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DCPD-202400503

Statement on the Federal Bureau of Investigation Quarterly Uniform Crime Report for the First Quarter of 2024

Administration of Joseph R. Biden, Jr., 2024 June 10, 2024 Violent crime is dropping at record levels in America. It's good news for our families and our communities. Today the FBI released preliminary data collected from over 11,000 law enforcement agencies around the country showing that, in the first quarter of this year, murders decreased by 26 percent, robberies by almost 18 percent, and violent crime overall by 15 percent. These large decreases follow major reductions in crime in nearly every category in 2023, including one of the lowest rates for all violent crime in 50 years and significant declines in murder. This progress we're seeing is no accident. My administration is putting more cops on the beat, holding violent criminals accountable, and getting illegal guns off the street, and we are doing it in partnership with communities. As a result, Americans are safer today than when I took office. After we saw the largest increase in murders ever recorded during the previous administration, my administration got to work protecting the American people. My America Rescue Plan—which every Republican voted against—delivered $15 billion to cities to hire and retain more cops and keep communities safe. I took on the gun lobby and signed the Bipartisan Safer Communities Act into law, the most significant gun violence legislation in nearly 30 years. But there is more to do. I will continue fighting for funding for 100,000 additional police officers, and crime prevention and community violence intervention programs. Every American deserves to feel safe in their community, which is why I will continue to invest in public safety. Categories: Statements by the President : Federal Bureau of Investigation Quarterly Uniform Crime Report for first quarter of 2024. Subjects: Community violence-interruption programs; Crime rates; Federal Bureau of Investigation; Gun violence, prevention efforts; Illegal firearms, antitrafficking efforts; State and local law enforcement, Federal support. DCPD Number: DCPD202400503. 1

usgpo

2024-06-24T00:12:21.670970

BILLS-118hconres27rfs

Condemning Russia’s unjust and arbitrary detention of Russian opposition leader Vladimir Kara-Murza who has stood up in defense of democracy, the rule of law, and free and fair elections in Russia.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Con. Res. 27 Referred in Senate (RFS)] <DOC> 118th CONGRESS 2d Session H. CON. RES. 27 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Received and referred to the Committee on Foreign Relations _______________________________________________________________________ CONCURRENT RESOLUTION Condemning Russia's unjust and arbitrary detention of Russian opposition leader Vladimir Kara-Murza who has stood up in defense of democracy, the rule of law, and free and fair elections in Russia. Whereas, on April 11, 2022, Vladimir Kara-Murza was unjustly detained by Russian authorities for spreading supposedly ``false information'' in a speech in March 2022 to the Arizona House of Representatives; Whereas Mr. Kara-Murza in his March 15, 2022, speech presented a defiant condemnation of Vladimir Putin's policies and leadership outlining his corruption and malign intentions, and condemning the illegal war of aggression Putin has unleashed against Ukraine; Whereas, prior to his arrest in April 2022, Mr. Kara-Murza was poisoned twice by agents of the Russian Government and the Russian Federation in 2015 and 2017 with a military-grade agent banned internationally, likely in retaliation for his defiant stance in support of rule of law and democracy in Russia; Whereas, despite having survived two assassination attempts and the subsequent side effects of these poisonings, Mr. Kara-Murza regularly returned to Russia to advocate for democratic representation in Russia; Whereas Mr. Kara-Murza has consistently advocated for democracy in Russia and insisted that democracy in Russia must be advanced by Russians for all those living in Russia; Whereas, in August 2022, new charges were brought against Mr. Kara-Murza for ``carrying out the activities'' of an ``undesirable foreign organization'' and his arrest was extended for his work as a leading member of Russian civil society; Whereas, in October 2022, Mr. Kara-Murza was further charged unjustly with ``high treason'' in part due to his public condemnations of the Kremlin's military aggression on Ukraine and domestic repressions; Whereas, in April 2023, Mr. Kara-Murza was unjustly sentenced to 25 years in prison; Whereas the state of Mr. Kara-Murza's health has deteriorated and in addition to losing over 45 pounds, he was diagnosed with polyneuropathy, a condition that under Russian law should have precluded him from detainment; Whereas, as a result of his diagnosis, he has lost feeling in both his feet and has experienced symptoms similar to those he experienced following his 2015 poisoning due to peripheral nerve damage; Whereas section 5599F of the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 (Public Law 117-263) condemned Mr. Kara-Murza's unjust detention, expressed solidarity with Mr. Kara-Murza, his family, and all individuals imprisoned in Russia for their beliefs, and urged the United States and other ally governments to work to secure the release of Mr. Kara-Murza and other citizens of the Russian Federation imprisoned for opposition to Vladimir Putin's regime and his illegal war in Ukraine; Whereas, in April 2022, Vladimir Kara-Murza was presented the McCain Institute's Courage and Leadership Award for his unwavering commitment to fundamental values and his acts of selfless courage which have inspired the world; Whereas, in October 2022, Mr. Kara-Murza was awarded the Vaclav Havel Prize honoring outstanding civil society action in defense of human rights; Whereas the late Senator John McCain said Mr. Kara-Murza ``is a brave, outspoken, and relentless advocate for freedom and democracy in Russia'' and introduced Mr. Kara-Murza as ``a personal hero whose courage, selflessness, and idealism I find awe-inspiring''; Whereas, in March 2023, the Department of the Treasury and the Department of State imposed Global Magnitsky and other targeted sanctions on six Russians involved in Mr. Kara-Murza's ongoing arbitrary detention, recognized his role as ``a major advocate for the adoption of Magnitsky- style sanctions authorities by the United States, Canada, European Union, and United Kingdom to target human rights abusers and corrupt actors in Russia'', and called for his immediate release; and Whereas Mr. Kara-Murza remains a political prisoner and a victim of Vladimir Putin's authoritarian state: Now, therefore, be it Resolved by the House of Representatives (the Senate concurring), That Congress-- (1) condemns in the strongest possible terms the unjust and arbitrary detention of Russian democratic opposition leader Vladimir Kara-Murza; (2) calls on the Russian Federation to immediately release Mr. Kara-Murza and all other Russian opposition leaders who are detained as a result of their opposition to the Putin regime; (3) calls on all Russian citizens to outright condemn Russia's illegal and unjust invasion of Ukraine in the spirit of Mr. Kara-Murza's defiant opposition stance in front of the Arizona House of Representatives in March 2022; (4) expresses solidarity and calls for the release of all political prisoners in Russia and Belarus, including Ukrainian citizens illegally held as prisoners by Putin's regime in violation of the rule of law as a result of their support for liberal democratic values, Radio Free Europe/Radio Liberty journalist Alsu Kurmasheva, and wrongfully-detained Americans Paul Whelan and Evan Gershkovich; (5) calls on the United States Government to designate Mr. Kara-Murza, as well as Radio Free Europe/Radio Liberty journalist Alsu Kurmasheva, as wrongfully detained under the Levinson Act; and (6) calls on the President of the United States and leaders from across the free world to work tirelessly for the release of political prisoners in Russia and increase support for those advocating for democracy in Russia as well as independent media and civil society which Mr. Kara-Murza has worked to further. Passed the House of Representatives June 11, 2024. Attest: KEVIN F. MCCUMBER, Clerk.

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2024-06-24T00:12:23.469209

BILLS-118s4320is

To provide for the establishment of the Bessie Coleman Women in Aviation Advisory Committee.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4320 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4320 To provide for the establishment of the Bessie Coleman Women in Aviation Advisory Committee. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Peters introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ A BILL To provide for the establishment of the Bessie Coleman Women in Aviation Advisory Committee. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. BESSIE COLEMAN WOMEN IN AVIATION ADVISORY COMMITTEE. (a) Establishment.--Not later than 6 months after the date of enactment of this Act, the Secretary shall establish the Bessie Coleman Women in Aviation Advisory Committee (in this section referred to as the ``Committee''). (b) Purpose.--The Committee shall advise the Secretary and the Administrator on matters and policies related to promoting the recruitment, retention, employment, education, training, career advancement, and well-being of women in the aviation industry and aviation-focused Federal civil service positions. (c) Form of Directives.--All activities carried out by the Committee, including special committees, shall be in response to written terms of work from the Secretary or taskings approved by a majority of the voting members of the Committee and may not duplicate the objectives of the Air Carrier Training Aviation Rulemaking Committee. (d) Functions.--In carrying out the directives described in subsection (c), the functions of the Committee are as follows: (1) Foster industry collaboration in an open and transparent manner by engaging, as prescribed by this section, with representatives of the private sector associated with an entity described in subsection (e)(1)(B). (2) Make recommendations for strategic objectives, priorities, and policies that would improve the recruitment, retention, training, and career advancement of women in aviation professions. (3) Evaluate opportunities for the FAA to improve the recruitment and retention of women in the FAA. (4) Periodically review and update the recommendations directed to the FAA and non-FAA entities produced by the Advisory Board created pursuant to section 612 of the FAA Reauthorization Act of 2018 (49 U.S.C. 40101 note) to improve the implementation of such recommendations. (5) Coordinate with the Office of Civil Rights of the Department of Transportation and the Federal Women's Program of the FAA to ensure directives described in subsection (c) do not duplicate objectives of such office or program. (e) Membership.-- (1) Voting members.--The Committee shall be composed of the following members: (A) The Administrator, or the designee of the Administrator. (B) At least 25 individuals, appointed by the Secretary, representing the following: (i) Aircraft manufacturers and aerospace companies. (ii) Public and private aviation labor organizations, including collective bargaining representatives of-- (I) aviation safety inspectors and safety engineers of the FAA; (II) air traffic controllers; (III) certified aircraft maintenance technicians; and (IV) commercial airline crewmembers. (iii) General aviation operators. (iv) Air carriers. (v) Business aviation operators, including powered-lift operators. (vi) Unmanned aircraft systems operators. (vii) Aviation safety management experts. (viii) Aviation maintenance, repair, and overhaul entities. (ix) Airport owners, operators, and employees. (x) Institutions of higher education (as defined in section 101 of the Higher Education Act of 1965 (20 U.S.C. 1001)), a postsecondary vocational institution (as defined in section 102(c) of the Higher Education Act of 1965 (20 U.S.C. 1002)), or a high school or secondary school (as such terms are defined in section 8101 of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7801)). (xi) A flight school that provides flight training, as defined in part 61 of title 14, Code of Federal Regulations, or that holds a pilot school certificate under part 141 of title 14, Code of Federal Regulations. (xii) Aviation maintenance technician schools governed under part 147 of title 14, Code of Federal Regulations. (xiii) Engineering business associations. (xiv) Civil Air Patrol. (xv) Nonprofit organizations within the aviation industry. (2) Nonvoting members.-- (A) In general.--In addition to the members appointed under paragraph (1), the Committee shall be composed of not more than 5 nonvoting members appointed by the Secretary from among officers or employees of the FAA, at least 1 of which shall be an employee of the Office of Civil Rights of the FAA. (B) Additional nonvoting members.--The Secretary may invite representatives from the Department of Education and Department of Labor to serve as nonvoting members on the Committee. (C) Duties.--The nonvoting members may-- (i) take part in deliberations of the Committee; and (ii) provide subject matter expertise with respect to reports and recommendations of the Committee. (D) Limitation.--The nonvoting members may not represent any stakeholder interest other than that of the respective Federal agency of the member. (3) Terms.--Each voting member and nonvoting member of the Committee appointed by the Secretary shall be appointed for a term that expires not later than the date on which the authorization of the Committee expires under subsection (l). (4) Committee characteristics.--The Committee shall have the following characteristics: (A) The ability to obtain necessary information from additional experts in the aviation and aerospace communities. (B) A membership that enables the Committee to have substantive discussions and reach consensus on issues in a timely manner. (C) Appropriate expertise, including expertise in human resources, human capital management, policy, labor relations, employment training, workforce development, and youth outreach. (5) Date.--Not later than 9 months after the date of enactment of this Act, the Secretary shall make the appointments described in this subsection. (f) Chairperson.-- (1) In general.--The Committee shall select a chairperson from among the voting members of the Committee. (2) Term.--The Chairperson shall serve a 2-year term. (g) Meetings.-- (1) Frequency.--The Committee shall meet at least twice each year at the call of the Chairperson or the Secretary. (2) Public attendance.--The meetings of the Committee shall be open and accessible to the public. (3) Administrative support.--The Secretary shall furnish the Committee with logistical and administrative support to enable the Committee to perform the duties of the Committee. (h) Special Committees.-- (1) Establishment.--The Committee may establish special committees composed of industry representatives, members of the public, labor representatives, and other relevant parties in complying with the consultation and participation requirements under subsection (d). (2) Applicable law.--Chapter 10 of title 5, United States Code, shall not apply to a special committee established by the Committee. (i) Personnel Matters.-- (1) No compensation of members.-- (A) Non-federal employees.--A member of the Committee who is not an officer or employee of the Government shall serve without compensation. (B) Federal employees.--A member of the Committee who is an officer or employee of the Federal Government shall serve without compensation in addition to the compensation received for the services of the member as an officer or employee of the Federal Government. (2) Death or resignation.--If a member of the Committee dies or resigns during the term of service of such member, the Secretary shall designate a successor for the unexpired term of such member. (j) Reports.-- (1) Task reports.--The Committee shall submit to the Secretary and the appropriate committees of Congress annual reports detailing the completion of each directive summarizing the-- (A) findings and associated recommendations of the Committee for any legislative and administrative actions the Committee considers appropriate to improve the advancement of women in aviation; and (B) planned activities of the Committee, as directed by the Secretary or approved by a majority of voting members of the Committee, and proposed terms of work to fulfill each activity. (2) Additional reports.--The Committee may submit to the appropriate committees of Congress, the Secretary, and the Administrator additional reports and recommendations related to education, training, recruitment, retention, and advancement of women in the aviation industry as the Committee determines appropriate. (k) Definitions.--In this section: (1) Administrator.--The term ``Administrator'' means the Administrator of the FAA. (2) Appropriate committees of congress.--The term ``appropriate committees of Congress'' means the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives. (3) FAA.--The term ``FAA'' means the Federal Aviation Administration. (4) Secretary.--The term ``Secretary'' means the Secretary of Transportation. (l) Sunset.--The authorization of the Committee shall expire on October 1, 2028. <all>

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2024-06-24T00:12:18.952947

BILLS-118hr537rfs

Forgotten Heroes of the Holocaust Congressional Gold Medal Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 537 Referred in Senate (RFS)] <DOC> 118th CONGRESS 2d Session H. R. 537 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ AN ACT To award a Congressional Gold Medal to 60 diplomats, in recognition of their bravery and heroism during the Holocaust. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Forgotten Heroes of the Holocaust Congressional Gold Medal Act''. SEC. 2. FINDINGS. Congress finds the following: (1) The following diplomats will be honored posthumously: Per Anger (Sweden), Jose Maria Barreto (Peru), Lars Berg (Sweden), Philippe Bernardini (Vatican / Italy), Hiram (Harry) Bingham IV (United States), Friedrich Born (Switzerland), Manuel Antonio Munoz Borrero (Ecuador), Carlos de Liz-Texeira Branquinho (Portugal), Eduardo Propper de Callejon (Spain), Samuel del Campo (Chile), Aracy Moebius Carvalho de Guimaraes Rosa (Brazil), Jose Arturo Castellanos (El Salvador), Carl Ivan Danielsson (Sweden), Luis Martins de Souza Dantas (Brazil), Georg Ferdinand Duckwitz (Germany), Harald Feller (Switzerland), Francis (Frank) Foley (United Kingdom), Jean- Edouard Friedrich (Switzerland), Carlos Almeida Afonseca de Sampaio Garrido (Portugal), Raymond Herman Geist (United States), Feng-Shan Ho (China), Constantin Karadja (Romania), Alexander Kasser (Sandor Kasza) (Sweden / Hungary), Elow Kihlgren (Sweden), Joseph Willem (Joop) Kolkman (Netherlands), Julius Kuhl (Switzerland), Aleksander 4ados (Poland), Valdemar Langlet (Sweden), Charles (Carl) Lutz (Switzerland), George Mandel-Mantello (El Salvador), Florian Manoliu (Romania), Aristides de Sousa Mendes (Portugal), Salomon Jacob (Sally) Noach (Netherlands), Giorgio (Jorge) Perlasca (Spain / Italy), Ernst Prodolliet (Switzerland), Franjo Puncuch (Yugoslavia / Slovenia), Sebastian de Romero Radigales (Spain), Konstanty Rokicki (Poland), Angelo Giuseppe Roncalli (Vatican / Italy), Angelo Rotta (Vatican / Italy), Albert Emile Routier (Turkey), Stefan Ryniewicz (Poland), Gilberto Bosques Saldivar (Mexico), Jose Ruiz Santaella (Spain), Angel Sanz-Briz (Spain), Abdol- Hossein Sardari (Iran), Henryk Slawik (Poland), Robert Smallbones (United Kingdom), Jan Spisiak (Slovakia), Chiune (Sempo) Sugihara (Japan), Ireanaeus Typaldos (Spain), Alexander (Sandor) Ujvary (Vatican / Hungary), Selahattin Ulkumen (Turkey), Gennaro Verolino (Vatican / Italy), Vladimir Vochoc (Czech Republic), Ernst Vonrufs (Switzerland), Raoul Wallenberg (Sweden), Guelfo Zamboni (Italy), Peter Zurcher (Switzerland), and Jan Zwartendijk (Holland). (2) On September 1, 1939, Adolf Hitler and the Nazis began their invasion of Europe, which started World War II and threw the world into chaos. The Nazi plan of mass murder of the Jewish population was in full motion. As battles were being fought between countries, Jews were being rounded up and sent to concentration camps throughout Europe. This process began a mass exodus of people out of Europe, especially those in the Jewish community. (3) During the war, members of the Jewish community used every tool and means at their disposal to flee Nazi tyranny. Thousands tried to flee on trains or boats to escape from Europe. (4) While the armies of countries were fighting each other, a handful of diplomats, from around the world, stepped forward and took heroic actions to save Jews fleeing Europe. This was an incredibly dangerous process. If the Nazis discovered the actions of these diplomats they would be expelled, as a few of them were. Also, while worrying about the Nazis, diplomats had to worry about their careers and livelihoods back home. Many of them had strict orders from their home countries to not aid the Jewish population in any way. (5) These diplomats used every means at their disposal to help Jews fleeing persecution. One of the most powerful tools the diplomats had to use was the issuing of passports and travel visas contrary to the instruction of the governments of the diplomats. This process alone is responsible for saving hundreds of thousands of Jewish families in Europe. This was not the only tool used as many of the diplomats were connected with the local populations and were great communicators for Jews trying to travel underground. They were able set up safehouses and getaways to hide Jews and especially Jewish children from Nazi authorities. In the most dangerous of times, several of these diplomats confronted the Nazis directly on behalf of the Jews and personally put themselves in grave danger. (6) Every diplomat knew the dangers and knew what they were up against, and still pushed forward to save those in the most danger. (7) The Congressional Gold Medal authorized under this Act will help remind humanity that when the diplomats were faced with terrible crises, they went beyond the fold, including risking their careers and the lives of themselves and their families, to engage in this humanitarian mission. The diplomats of today and future generations can look towards these heroes and be inspired by their lives of heroism and sacrifice. SEC. 3. CONGRESSIONAL GOLD MEDAL. (a) Presentation Authorized.--The Speaker of the House of Representatives and the President pro tempore of the Senate shall make appropriate arrangements for the presentation, on behalf of Congress, of a single gold medal of appropriate design in honor of the 60 diplomats identified in section 2(1), in recognition of their brave and vital service of saving Jews during World War II. (b) Design and Striking.--For purposes of the presentation referred to in subsection (a), the Secretary of the Treasury (referred to in this Act as the ``Secretary'') shall strike a gold medal with suitable emblems, devices, and inscriptions, to be determined by the Secretary. (c) Presentation of Medal.--The single gold medal presented under subsection (a) shall be presented collectively to the eldest next of kin of each of the 60 diplomats identified in section 2(1), who shall receive the medal as part of a delegation consisting of a senior official representative of the country that each diplomat served and the cochairs of the Forgotten Heroes of the Holocaust Committee. (d) United States Holocaust Memorial Museum.-- (1) In general.--Following the award of the gold medal in honor of the 60 diplomats identified in section 2(1), the gold medal shall be given to the United States Holocaust Memorial Museum, where it will be available for display as appropriate and available for research. (2) Sense of congress.--It is the sense of Congress that the United States Holocaust Memorial Museum should make the gold medal awarded pursuant to this Act available for display elsewhere, particularly at appropriate locations associated with Holocaust remembrance. SEC. 4. DUPLICATE MEDALS. The Secretary may strike and sell duplicates in bronze of the gold medal struck under section 3, at a price sufficient to cover the costs thereof, including labor, materials, dies, use of machinery, and overhead expenses. SEC. 5. STATUS OF MEDALS. (a) National Medal.--Medals struck pursuant to this Act are national medals for purposes of chapter 51 of title 31, United States Code. (b) Numismatic Items.--For purposes of sections 5134 and 5136 of title 31, United States Code, all medals struck under this Act shall be considered to be numismatic items. SEC. 6. AUTHORITY TO USE FUND AMOUNTS; PROCEEDS OF SALE. (a) Authority To Use Fund Amounts.--There is authorized to be charged against the United States Mint Public Enterprise Fund such amounts as may be necessary to pay for the costs of the medals struck under this Act. (b) Proceeds of Sale.--Amounts received from the sale of duplicate bronze medals authorized under section 4 shall be deposited into the United States Mint Public Enterprise Fund. Passed the House of Representatives June 11, 2024. Attest: KEVIN F. MCCUMBER, Clerk.

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2024-06-24T00:12:24.901977

BILLS-118sres737ats

Supporting Senate military-connected fellowship opportunities, and for other purposes.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 737 Agreed to Senate (ATS)] <DOC> 118th CONGRESS 2d Session S. RES. 737 Supporting Senate military-connected fellowship opportunities, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 17, 2024 Mrs. Fischer (for herself and Ms. Klobuchar) submitted the following resolution; which was considered and agreed to _______________________________________________________________________ RESOLUTION Supporting Senate military-connected fellowship opportunities, and for other purposes. Resolved, SECTION 1. STARS OF VALOR FELLOWSHIPS PROGRAM. (a) Definitions.--In this section-- (1) the term ``eligible individual'' means an individual who meets the eligibility criteria established under subsection (d)(1)(A); (2) the term ``Program'' means the Stars of Valor Fellowships Program established under subsection (b); and (3) the term ``Sergeant at Arms'' means the Sergeant at Arms and Doorkeeper of the Senate. (b) Establishment.-- (1) In general.--Not later than December 31, 2024, and subject to the availability of appropriations, the Sergeant at Arms shall establish a central program, to be known as the ``Stars of Valor Fellowships Program'', to enable eligible individuals to serve in the military-connected fellowship programs of the Senate. (2) Components.--The Program shall oversee and provide fellowships through-- (A) the SFC Sean Cooley and SPC Christopher Horton Congressional Gold Star Family Fellowship Program established under section 1 of Senate Resolution 442 (117th Congress), agreed to November 4, 2021; (B) the McCain-Mansfield Fellowship Program established under section 1 of Senate Resolution 443 (117th Congress), agreed to November 4, 2021; (C) the Active-Duty Military Spouses Fellowship Program established under section 2; and (D) any additional military-connected fellowship program for eligible individuals established in regulations promulgated by the Committee on Rules and Administration of the Senate. (c) Fellowships.--Under a fellowship in the Program, an eligible individual may serve a 24-month fellowship in the office of a Senator. (d) Administration.-- (1) In general.--The Committee on Rules and Administration of the Senate shall promulgate regulations for the administration of the Program, including establishing the criteria for-- (A) eligibility to participate in the fellowship programs described in subsection (b)(2); and (B) a method of prioritizing the assignment of fellowships to the offices of Senators under the Program, if the amount made available to carry out the Program for a fiscal year is not enough to provide fellowships in all offices requesting to participate in the Program for such fiscal year. (2) Placement.--An eligible individual may serve in a fellowship under the Program at the office of a Senator in the District of Columbia or at a State office of the Senator. (e) Exclusion of Appointees for Purposes of Compensation Limits.-- The compensation paid to any eligible individual serving in a fellowship under the Program in the office of a Senator shall not be included in the determination of the aggregate gross compensation for employees employed by the Senator under section 105(d)(1) of the Legislative Branch Appropriation Act, 1968 (2 U.S.C. 4575(d)(1)). (f) Applicability.--The requirements of this section shall apply to all fellowship programs described in subsection (b)(2). (g) Technical and Conforming Amendments.-- (1) SFC sean cooley and spc christopher horton congressional gold star family fellowship program.--Section 1(d) of Senate Resolution 442 (117th Congress), agreed to November 4, 2021, is amended by striking paragraph (3). (2) McCain-mansfield fellowship program.--Section 1(d) of Senate Resolution 443 (117th Congress), agreed to November 4, 2021, is amended by striking paragraph (3). SEC. 2. ACTIVE-DUTY MILITARY SPOUSES FELLOWSHIP PROGRAM. (a) Definitions.--In this section-- (1) the term ``eligible individual'' means an individual who-- (A) is, as of the date of application for the Program, a spouse of a member of the Armed Forces serving on active duty; and (B) meets any other eligibility criteria established for the Program by the Committee on Rules and Administration of the Senate under section 1(d)(1)(A); (2) the term ``Program'' means the Active-Duty Military Spouses Fellowship Program established under subsection (b); and (3) the term ``Sergeant at Arms'' means the Sergeant at Arms and Doorkeeper of the Senate. (b) Establishment.--Not later than December 31, 2024, and subject to the availability of appropriations, the Sergeant at Arms shall establish a fellowship program, to be known as the ``Active-Duty Military Spouses Fellowship Program'', for eligible individuals. (c) Administration.--The Sergeant at Arms shall carry out the Program through the Stars of Valor Fellowships Program under section 1. <all>

usgpo

2024-06-24T00:12:18.941518

BILLS-118hres1307ih

Expressing support for the designation of June 20, 2024, as World FSHD Day.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1307 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1307 Expressing support for the designation of June 20, 2024, as ``World FSHD Day''. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Mrs. Dingell (for herself and Mr. Kelly of Pennsylvania) submitted the following resolution; which was referred to the Committee on Energy and Commerce _______________________________________________________________________ RESOLUTION Expressing support for the designation of June 20, 2024, as ``World FSHD Day''. Whereas facioscapulohumeral muscular dystrophy (FSHD) is a genetic neuromuscular disease (NMD) that leads to the weakening of skeletal muscles; Whereas FSHD's name comes from the typical pattern of muscle weakness at onset, beginning with the face (facio), shoulder girdle (scapulo), and upper arms (humeral); Whereas FSHD Type 1 is the more common form of FSHD, accounting for approximately 95 percent of FSHD cases; results from deletions in the D4Z4 region on chromosome 4; and leads to abnormal expression of the DUX4 gene; Whereas, approximately 5 percent of FSHD cases, known as FSHD Type 2, are linked to mutations on a gene called SMCHD1, located on chromosome 18; Whereas there are still many FSHD cases of unknown genetic cause; Whereas FSHD is an inherited condition that can affect many family members across generations; Whereas FSHD is genetically transmissible in an autosomal dominant fashion, meaning that an affected parent has a 50 percent chance of passing the genetic defect on to each child; Whereas 30 percent of new FSHD patients have no prior family history of the disease and are affected as a result of congenital spontaneous genetic mutation; Whereas FSHD exists worldwide, affects both sexes equally, and has no particular racial, geographic, or ethnic distribution; Whereas an estimated 1 in 8,000 individuals, or 41,487 Americans, are living with FSHD; Whereas FSHD symptoms can develop at any age and can differ in the initial pattern of muscle weakness; Whereas weakness in abdominal muscles is common and can lead to lordosis, an exaggerated curve in the lower spine; Whereas the loss of upper body mobility is a debilitating symptom of FSHD that significantly impacts patients' ability to perform daily tasks necessary to care for themselves; Whereas lower leg weakness often occurs and can lead to a condition called foot drop, where the foot stays down after pushing off when walking; Whereas FSHD can reduce patients' ability to work and earn a living; Whereas asymmetrical muscle loss is a hallmark symptom of FSHD with an unknown cause, and most patients observe that one arm, shoulder blade, or lower leg is weakened while the other remains stronger; Whereas about 20 percent of FSHD patients will become dependent on a wheelchair or scooter; Whereas patients with FSHD may develop progressive weakness of the respiratory muscles or scoliosis, which can cause fatal respiratory insufficiency; Whereas more than 70 percent of FSHD patients experience debilitating pain and fatigue, which can severely limit daily activities; Whereas the loss of facial expression and mobility, as well as others' lack of understanding of FSHD, is emotionally distressing and can cause FSHD patients to withdraw socially; Whereas individuals with FSHD, like those with other rare disorders, experience challenges in obtaining a diagnosis, with the average time to receive an accurate FSHD diagnosis being 9 years; Whereas genetic testing is needed to definitively diagnose FSHD, and further investments in genetic testing are required to ensure access to testing for all Americans; Whereas, to date, the Food and Drug Administration (FDA) has yet to approve any treatments for FSHD; Whereas, as a result of the Orphan Drug Act, there have been important advances in research on and treatment for rare diseases, including efforts to develop treatments for FSHD; Whereas Congress and the FDA have affirmed the importance of incorporating patient perspectives throughout the drug review process through implementation of the 21st Century Cures Act, the HEART Act, and FDA guidance; Whereas the FDA's Patient-Focused Drug Development program is a critical resource that allows patients and caregivers to educate the FDA and other stakeholders on their lived experiences; Whereas there is a critical need for research and development to advance treatments for FSHD; Whereas the FSHD Society, a nonprofit organization established in 1991, is dedicated to increasing, engaging, and empowering stakeholders and aggressively leveraging and expanding resources, with the goal of developing treatments for FSHD by 2025 and eventually a cure; Whereas, on June 29, 2020, the FSHD community held its first-ever externally led patient-focused drug development meeting; and Whereas FSHD patient advocacy organizations, research funding nonprofits, biopharmaceutical industry partners, and other key stakeholders sponsor World FSHD Day in the United States to increase public awareness and generate additional support for FSHD: Now, therefore, be it Resolved, That the House of Representatives-- (1) supports the designation of ``World FSHD Day''; and (2) recognizes the importance of-- (A) improving awareness of and education about facioscapulohumeral muscular dystrophy (in this resolution referred to as ``FSHD''); (B) encouraging accurate and early diagnosis of FSHD through genetic screening; (C) supporting and funding future biomedical and scientific research to improve physical functioning and quality of life for individuals living with FSHD; (D) developing new treatments, diagnostics, and cures for FSHD; and (E) advancing programs and policies that support individuals living with FSHD and their caregivers. <all>

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2024-06-24T00:12:17.382259

BILLS-118hr7989rfs

ThinkDIFFERENTLY About Disability Employment Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 7989 Referred in Senate (RFS)] <DOC> 118th CONGRESS 2d Session H. R. 7989 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Received; read twice and referred to the Committee on Small Business and Entrepreneurship _______________________________________________________________________ AN ACT To provide for a memorandum of understanding between the Small Business Administration and the National Council on Disability to increase employment opportunities for individuals with disabilities, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``ThinkDIFFERENTLY About Disability Employment Act''. SEC. 2. MEMORANDUM OF UNDERSTANDING TO INCREASE EMPLOYMENT OPPORTUNITIES FOR INDIVIDUALS WITH DISABILITIES. (a) In General.--The Administrator of the Small Business Administration, in consultation with the Chair of the National Council on Disability, shall-- (1) provide assistance to individuals with disabilities who desire to become entrepreneurs or to be self-employed; (2) help individuals with disabilities find employment at small business concerns (as defined under section 3 of the Small Business Act (15 U.S.C. 632)); (3) assist small business concerns with hiring individuals with disabilities and with accessibility issues applicable to individuals with disabilities. (b) Memorandum of Understanding or Agreement.--The Administrator, in consultation with the Chair, shall carry out and coordinate the activities described in subsection (a) by entering into one or more memoranda of understanding or other appropriate agreements. (c) Outreach and Education.--In carrying out the activities described in subsection (a), the Administrator, in consultation with the Chair, shall conduct outreach and education about such activities. (d) Report.--Not later than two years after the date of the enactment of this Act, the Administrator, in consultation with the Chair, shall submit to Congress a report on activities carried out pursuant to any memorandum or agreement described in subsection (b) that includes the following: (1) A description of how the Administrator, in consultation with the Chair, carried out such activities. (2) An analysis of opportunities to expand the technical capabilities of the Small Business Administration in carrying out such activities. (3) A description of achievements under any such memorandum or agreement. (4) A description of the plans of the Administrator, in consultation with the Chair, to continue activities to expand employment opportunities for individuals with disabilities. SEC. 3. COMPLIANCE WITH CUTGO. No additional amounts are authorized to be appropriated to carry out this Act or the amendments made by this Act. Passed the House of Representatives June 11, 2024. Attest: KEVIN F. MCCUMBER, Clerk.

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2024-06-24T00:12:23.234133

BILLS-118s4318is

To provide for an unmanned aircraft system (UAS) integration strategy.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4318 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4318 To provide for an unmanned aircraft system (UAS) integration strategy. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Peters introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ A BILL To provide for an unmanned aircraft system (UAS) integration strategy. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. UAS INTEGRATION STRATEGY. (a) In General.--The Administrator shall implement the recommendations made by-- (1) the Comptroller General to the Secretary contained in the report of the Government Accountability Office titled ``Drones: FAA Should Improve Its Approach to Integrating Drones into the National Airspace System'', issued in January 2023 (GAO-23-105189); and (2) the inspector general of the Department of Transportation to the Administrator contained in the audit report of the inspector general titled ``FAA Made Progress Through Its UAS Integration Pilot Program, but FAA and Industry Challenges Remain To Achieve Full UAS Integration'', issued in April 2022 (Project ID: AV2022027). (b) Briefing.--Not later than 12 months after the date of enactment of this Act, and annually thereafter through 2028, the Administrator shall provide a briefing to the appropriate committees of Congress that-- (1) provides a status update on the-- (A) implementation of the recommendations described in subsection (a); (B) implementation of statutory provisions related to unmanned aircraft system integration under subtitle B of title III of division B of the FAA Reauthorization Act of 2018 (Public Law 115-254); and (C) actions taken by the Administrator to implement recommendations related to safe integration of unmanned aircraft systems into the national airspace system included in aviation rulemaking committee reports published after the date of enactment of the FAA Reauthorization Act of 2018 (Public Law 115-254); (2) provides a description of steps taken to achieve the safe integration of such systems into the national airspace system, including milestones and performance metrics to track results; (3) provides the costs of executing the integration described in paragraph (2), including any estimates of future Federal resources or investments required to complete such integration; and (4) identifies any regulatory or policy changes required to execute the integration described in paragraph (2). (c) Definitions.--In this section: (1) Administrator.--The term ``Administrator'' means the Administrator of the Federal Aviation Administration. (2) Appropriate committees of congress.--The term ``appropriate committees of Congress'' means the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives. (3) Comptroller general.--The term ``Comptroller General'' means the Comptroller General of the United States. (4) Secretary.--The term ``Secretary'' means the Secretary of Transportation. <all>

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2024-06-24T00:12:18.350054

BILLS-118hjres168ih

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Council on Environmental Quality relating to National Environmental Policy Act Implementing Regulations Revisions Phase 2.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.J. Res. 168 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. J. RES. 168 Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Council on Environmental Quality relating to ``National Environmental Policy Act Implementing Regulations Revisions Phase 2''. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Mr. Graves of Louisiana (for himself, Mr. Duarte, Mr. Curtis, Mrs. Miller-Meeks, Mr. Stauber, Mr. Armstrong, Mr. Golden of Maine, Mrs. Bice, Mr. Carter of Georgia, Mr. Burgess, Mr. Lamborn, Mr. Hudson, and Mr. Roy) submitted the following joint resolution; which was referred to the Committee on Natural Resources _______________________________________________________________________ JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Council on Environmental Quality relating to ``National Environmental Policy Act Implementing Regulations Revisions Phase 2''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the rule submitted by the Council on Environmental Quality relating to ``National Environmental Policy Act Implementing Regulations Revisions Phase 2'' (89 Fed. Reg. 35442 (May 1, 2024)), and such rule shall have no force or effect. <all>

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2024-06-24T00:12:17.419934

BILLS-118hres1312ih

Expressing support for the designation of July 2024 as Veterans Appreciation Month.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1312 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1312 Expressing support for the designation of July 2024 as Veterans Appreciation Month. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Mr. Van Drew submitted the following resolution; which was referred to the Committee on Oversight and Accountability _______________________________________________________________________ RESOLUTION Expressing support for the designation of July 2024 as Veterans Appreciation Month. Whereas United States veterans have answered the Nation's call to serve; Whereas veterans fought the Nation's battles in the air, on land, and on sea; Whereas the brave men and woman who served in the United States Armed Forces made great sacrifices to protect the freedom and democracy of the United States; Whereas United States veterans willingly placed the well-being of the Nation above their own; Whereas given their immense sacrifice and bravery, veterans deserve to be honored during the entire month of November and throughout the year; Whereas July, a time when America celebrates its independence and freedom, serves as a fitting occasion to recognize the pressing issues faced by veterans and the imperative to ensure that all individuals who have served in the United States Armed Forces are adequately cared for and protected; and Whereas the people of the United States are proud of the courageous service of all who served in the United States Armed Forces: Now, therefore, be it Resolved, That the House of Representatives supports the designation of Veterans Appreciation Month. <all>

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2024-06-24T00:12:16.371769

BILLS-118s4313is

Blair Holt Firearm Owner Licensing and Record of Sale Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4313 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4313 To provide for the implementation of a system of licensing for purchasers of certain firearms and for a record of sale system for those firearms, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Ms. Duckworth introduced the following bill; which was read twice and referred to the Committee on the Judiciary _______________________________________________________________________ A BILL To provide for the implementation of a system of licensing for purchasers of certain firearms and for a record of sale system for those firearms, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) Short Title.--This Act may be cited as the ``Blair Holt Firearm Owner Licensing and Record of Sale Act of 2024''. (b) Table of Contents.--The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Findings and purposes. Sec. 3. Definitions. TITLE I--LICENSING Sec. 101. Licensing requirement. Sec. 102. Issuance, revocation, and renewal of firearm owner licenses. Sec. 103. Relief from denial or revocation of firearm owner licenses. TITLE II--RECORD OF SALE OR TRANSFER Sec. 201. Sale or transfer requirements for qualifying firearms. Sec. 202. Firearm records. TITLE III--ADDITIONAL PROHIBITIONS Sec. 301. Firearms transfers. Sec. 302. Failure to maintain or permit inspection of records. Sec. 303. Failure to report loss or theft of firearm. Sec. 304. Failure to provide notice of change of address. Sec. 305. Child access prevention. TITLE IV--ENFORCEMENT Sec. 401. Criminal penalties. Sec. 402. Regulations. Sec. 403. Inspections. Sec. 404. Orders. Sec. 405. Injunctive enforcement. TITLE V--FIREARM INJURY INFORMATION AND RESEARCH Sec. 501. Duties of the Attorney General. TITLE VI--EFFECT ON STATE LAW Sec. 601. Effect on State law. Sec. 602. Certification of State firearm licensing systems and State firearm record of sale systems. TITLE VII--RELATIONSHIP TO OTHER LAW Sec. 701. Subordination to Arms Export Control Act. TITLE VIII--INAPPLICABILITY Sec. 801. Inapplicability to governmental authorities. TITLE IX--EFFECTIVE DATES OF AMENDMENTS Sec. 901. Effective dates of amendments. SEC. 2. FINDINGS AND PURPOSES. (a) Findings.--Congress finds that-- (1) the manufacture, distribution, and importation of firearms is inherently commercial in nature; (2) firearms regularly move in interstate commerce; (3) to the extent that firearms trafficking is intrastate in nature, it arises out of and is substantially connected with a commercial transaction that, when viewed in the aggregate, substantially affects interstate commerce; (4) because the intrastate and interstate trafficking of firearms are so commingled, full regulation of interstate commerce requires the incidental regulation of intrastate commerce; (5) firearm-related assaults in the United States during the 19-year period between 2001 and 2019 were-- (A) associated with the majority of homicides and half of all suicides; and (B) the seventh leading cause of nonfatal violent injuries; (6) on the afternoon of May 10, 2007, Blair Holt, a junior at Julian High School in Chicago, was killed on a public bus riding home from school when he used his body to shield a girl who was in the line of fire after a young man boarded the bus and started shooting; (7) since 2007, when 32 students and teachers were killed at Virginia Tech, 7 of the 11 most deadly mass shootings in the United States have taken place; (8) since 2012, when 20 first graders and teachers were murdered with an assault rifle at Sandy Hook Elementary School in Newtown, Connecticut, more than 230 school shootings have occurred in the United States; (9) in 2015, there were 335 mass shootings, including, notably, the shooting at Umpqua Community College in Oregon, the Charleston church shooting in South Carolina, the theater shooting in Lafayette, Louisiana, and the Isla Vista community shootings in California; (10) since 2016, the country has witnessed 4 of the 10 most deadly mass shootings in modern United States history; (11) in February 2018, 17 members of the Marjory Stoneman Douglas High School community in Parkland, Florida, lost their lives at the hands of a 19-year-old armed with an AR-15 semiautomatic assault rifle; (12) according to the Federal Bureau of Investigation, the criminal homicide rate increased from 5.1 per 100,000 people in 2019 to 6.5 per 100,000 people in 2020, the largest single year increase in at least the past 6 decades and approximately 73 percent of 2019 criminal homicides are estimated to have been firearms-related, while approximately 77 percent of 2020 criminal homicides are estimated to have been firearms-related; (13) communities of color suffer disproportionately from gun violence, with Black children and teens 14 percent more likely to die of gun violence than their White counterparts and Latino children and teens 3 times more likely to die of gun violence than their White counterparts; and (14) between 2015 and 2020, there were 2,429 mass shootings, including 611 in 2020 alone. (b) Sense of Congress.--It is the sense of Congress that-- (1) firearms trafficking is prevalent and widespread in and among the States, and it is usually impossible to distinguish between intrastate trafficking and interstate trafficking; and (2) it is in the national interest and within the role of the Federal Government to ensure that the regulation of firearms is uniform among the States, that law enforcement can quickly and effectively trace firearms used in crime, and that firearms owners know how to use and safely store their firearms. (c) Purposes.--The purposes of this Act and the amendments made by this Act are-- (1) to protect the public against the unreasonable risk of injury and negligent or reckless death associated with the unrecorded sale or transfer of qualifying firearms to criminals and youths; (2) to ensure that owners of qualifying firearms are knowledgeable in the safe use, handling, and storage of those firearms; (3) to restrict the availability of qualifying firearms to criminals, youth, and other persons prohibited by Federal law from receiving firearms; (4) to facilitate the tracing of qualifying firearms used in crime by Federal and State law enforcement agencies; and (5) to hold criminally and civilly liable those who facilitate the transfer of qualifying firearms, causing risk of injury and negligent or reckless death associated with the transfer of those qualifying firearms. SEC. 3. DEFINITIONS. (a) In General.--In this Act, the terms ``firearm'', ``qualifying firearm'', and ``State'' have the meanings given those terms in section 921(a) of title 18, United States Code, as amended by subsection (b). (b) Title 18, United States Code.--Section 921(a) of title 18, United States Code, is amended by adding at the end the following: ``(38) The term `detachable ammunition feeding device'-- ``(A) means a magazine, belt, drum, feed strip, or similar device that-- ``(i) is capable of being detached from a semiautomatic rifle; and ``(ii) has a capacity of, or that can be readily restored or converted to accept, more than 10 rounds of ammunition; and ``(B) does not include an attached tubular device designed to accept, and capable of operating only with, .22 caliber rimfire ammunition. ``(39) The term `firearm owner license' means a license issued under section 923(m). ``(40) The term `qualifying firearm'-- ``(A) means-- ``(i) a handgun; or ``(ii) a semiautomatic rifle that is capable of accepting a detachable ammunition feeding device; and ``(B) does not include an antique firearm.''. TITLE I--LICENSING SEC. 101. LICENSING REQUIREMENT. Section 922 of title 18, United States Code, is amended by adding at the end the following: ``(aa) Firearm Licensing Requirement.-- ``(1) In general.--Subject to paragraph (2), it shall be unlawful for any individual other than a licensed importer, licensed manufacturer, licensed dealer, or licensed collector to possess a qualifying firearm on or after the applicable date, unless that individual has a valid-- ``(A) firearm owner license; or ``(B) State firearm license. ``(2) Exemptions.-- ``(A) In general.--Paragraph (1) shall not apply to-- ``(i) a Federal, State, local, or Tribal law enforcement officer while engaged in the performance of official duties; ``(ii) a member of the Armed Forces or National Guard while engaged in the performance of official duties; ``(iii) a Federal employee who is required to carry a qualifying firearm in the capacity of that individual as a Federal employee while engaged in the performance of official duties; ``(iv) a member of a bona fide veterans organization that received the qualifying firearm directly from the Armed Forces, including a member of the color guard of the veterans organization, while using the qualifying firearm for a ceremonial purpose with blank ammunition; ``(v) an unemancipated minor who is under the direct supervision of an individual who-- ``(I) has a valid firearm owner license or State firearm license; and ``(II) is, with respect to the minor-- ``(aa) a parent; ``(bb) a legal guardian; or ``(cc) any other individual standing in loco parentis; ``(vi) an individual with a valid hunting license issued by a State while the individual is-- ``(I) hunting in the State that issued the license; and ``(II) accompanied by an individual who has a valid firearm owner license or State firearm license; or ``(vii) an individual who is-- ``(I)(aa) on a firing or shooting range; or ``(bb) participating in a firearms safety or training course recognized by-- ``(AA) a Federal, State, local, or Tribal law enforcement agency; or ``(BB) a national or statewide shooting sports organization; ``(II) otherwise eligible to obtain a firearm owner license; and ``(III) under the direct supervision of an individual who-- ``(aa) has a valid firearm owner license or State firearm license; and ``(bb) is not less than 21 years of age. ``(B) Individuals with state firearm licenses.--Not later than 60 days after the date on which an individual who has a State firearm license moves from the State in which the State firearm license of the individual was issued to a different State, the individual shall-- ``(i) if the State to which the individual has moved has a State firearm owner licensing system certified by the Attorney General under section 936, apply for-- ``(I) a State firearm license under that State system; or ``(II) a firearm owner license; or ``(ii) if the State to which the individual has moved does not have a State firearm licensing system certified by the Attorney General under section 936, apply for a firearm owner license. ``(3) Definitions.--In this subsection-- ``(A) the term `applicable date' means, with respect to a qualifying firearm that is acquired by the individual-- ``(i) before the date of enactment of the Blair Holt Firearm Owner Licensing and Record of Sale Act of 2024, 2 years after that date of enactment; and ``(ii) on or after the date of enactment of the Blair Holt Firearm Owner Licensing and Record of Sale Act of 2024, 1 year after that date of enactment; and ``(B) the term `State firearm license' means a firearm license issued under a firearm licensing system established by a State that has been certified by the Attorney General under section 936. ``(bb) Denial or Revocation of Firearm Owner Licenses.--It shall be unlawful for any individual who is denied a firearm owner license under paragraph (3)(D) of section 923(m) or receives a revocation notice under paragraph (5)(B)(i) of that section to knowingly-- ``(1) fail to surrender the firearm owner license of the individual in accordance with paragraph (6)(A)(i) of that section; ``(2) fail to submit a firearm disposition record in accordance with paragraph (6)(A)(ii) of that section; ``(3) make a false statement in a firearm disposition record submitted under paragraph (6)(A)(ii) of that section; or ``(4) fail to transfer any qualifying firearm of the individual in accordance with paragraph (6)(A)(iii) of that section.''. SEC. 102. ISSUANCE, REVOCATION, AND RENEWAL OF FIREARM OWNER LICENSES. Section 923 of title 18, United States Code, is amended-- (1) in subsection (d)(1)(F)(iii), by inserting ``under subsection (a) or (b)'' after ``Federal firearms license''; (2) in subsection (l), by inserting ``under subsection (a) or (b)'' after ``a firearms license is issued''; and (3) by adding at the end the following: ``(m) Firearm Owner Licenses.-- ``(1) Definitions.--In this subsection-- ``(A) the term `clinical psychologist' means a psychologist licensed or registered to practice psychology in the State in which the psychologist practices who-- ``(i) has-- ``(I) a doctoral degree from a regionally accredited university, college, or professional school; and ``(II) not less than 2 years of supervised experience in health services, of which-- ``(aa) not less than 1 year is of postdoctoral experience; and ``(bb) not less than 1 year is of experience in an organized health service program; or ``(ii) has-- ``(I) a graduate degree in psychology from a regionally accredited university or college; and ``(II) not less than 6 years of experience as a psychologist, of which not less than 2 years are of supervised experience in health services; ``(B) the term `covered offense' means battery, assault, aggravated assault, or violation of an order of protection, in which a firearm was used or possessed; ``(C) the term `identification document' has the meaning given the term in section 1028(d); ``(D) the term `licensed individual' means an individual issued a firearm owner license under paragraph (3); ``(E) the term `physician' means a doctor of medicine legally authorized to practice medicine by the State in which the physician performs that function or action; ``(F) the term `qualified examiner' means a medical professional authorized to conduct a qualifying mental health evaluation by the State in which the evaluation occurs; and ``(G) the term `qualifying mental health evaluation' means a mental evaluation by a physician, clinical psychologist, or qualified examiner resulting in a certification by the physician, clinical psychologist, or qualified examiner that an individual is not a clear and present danger to the individual or others. ``(2) Applications.-- ``(A) In general.--An individual applying for a firearm owner license under this subsection shall submit to the Attorney General, in accordance with the regulations promulgated under subparagraph (B), an application that includes-- ``(i) a current, passport-sized photograph of the applicant that provides a clear, accurate likeness of the applicant; ``(ii) the name, address, and date and place of birth of the applicant; ``(iii) any other name that the applicant has ever used or by which the applicant has ever been known; ``(iv) with respect to each category of person prohibited by Federal law, or by the law of the State of residence of the applicant, from obtaining a firearm, a statement that the applicant is not a person prohibited from receiving a firearm; ``(v)(I) a certification by the applicant that the applicant is not younger than 21 years old; or ``(II) in the case of an applicant who is younger than 21 years old-- ``(aa) written proof of the consent of the parent or legal guardian of the applicant for the applicant to possess and acquire a qualifying firearm, provided that the parent or legal guardian-- ``(AA) is not an individual prohibited by subsection (g) or (n) of section 922 from receiving a firearm; and ``(BB) submits an affidavit with the application affirming that the parent or legal guardian is not an individual prohibited by subsection (g) or (n) of section 922 from receiving a firearm; and ``(bb) a certification by the applicant that the applicant has not been convicted of a misdemeanor, other than a traffic offense, or adjudged delinquent; ``(vi) a certification by the applicant that the applicant-- ``(I) was not a patient in a mental health facility during the 5-year period preceding the date on which the application is submitted; ``(II) is not an individual with an intellectual or developmental disability; ``(III) is not subject to an order of protection prohibiting the applicant from possessing a firearm; ``(IV) has not been convicted of a covered offense during the 5-year period preceding the date on which the application is submitted; and ``(V) has not been adjudged delinquent for an act of juvenile delinquency that if committed by an adult would be a felony; ``(vii) if the individual was a patient in a mental health facility during a period ending more than 5 years before the date on which the application is submitted, a qualifying mental health evaluation; ``(viii) an authorization by the applicant to release to the Attorney General, or an authorized representative of the Attorney General, any mental health records pertaining to the applicant; ``(ix) the rolled fingerprints of the applicant; ``(x) the date on which the application was submitted; and ``(xi) the signature of the applicant. ``(B) Regulations governing submission.-- ``(i) In general.--The Attorney General shall promulgate regulations specifying procedures for the submission of an application under subparagraph (A) to the Attorney General that shall-- ``(I) provide for submission of the application through a licensed dealer or an office or agency of the Federal Government designated by the Attorney General; ``(II) require the applicant to provide a valid identification document of the applicant, containing a photograph of the applicant, to the licensed dealer or to the office or agency of the Federal Government, as applicable, at the time of submission of the application to that licensed dealer, office, or agency; and ``(III) require that a completed application be forwarded to the Attorney General not later than 48 hours after the application is submitted to the licensed dealer or office or agency of the Federal Government. ``(ii) Definition.--In this subparagraph, the term `agency' has the meaning given the term in section 551 of title 5. ``(C) Fees.-- ``(i) In general.--The Attorney General shall charge and collect from each applicant for a license under this subsection a fee in an amount determined in accordance with clause (ii). ``(ii) Fee amount.--The amount of the fee collected under this subparagraph shall be not less than the amount determined by the Attorney General to be necessary to ensure that the total amount of all fees collected under this subparagraph during a fiscal year is sufficient to cover the costs of carrying out this subsection during that fiscal year, except that such amount shall not exceed $10. ``(3) Issuance of licenses.-- ``(A) In general.--Not later than 30 days after the date on which an application is submitted under paragraph (2), the Attorney General shall issue a firearm owner license to an applicant who has submitted an application that meets the requirements under paragraph (2), if, after conducting a fingerprint-based nationwide criminal background check using the rolled fingerprints of the applicant submitted in the application, the Attorney General determines that the applicant-- ``(i) is not prohibited by subsection (g) or (n) of section 922 from receiving a qualifying firearm; ``(ii)(I) is not younger than 21 years old; or ``(II) is younger than 21 years old and-- ``(aa) has submitted written proof of the consent of the parent or legal guardian of the applicant required under paragraph (2)(A)(v)(II)(aa); and ``(bb) has not been convicted of a misdemeanor, other than a traffic offense, or adjudged delinquent; ``(iii) was not a patient in a mental health facility during the 5-year period preceding the date on which the application is submitted; ``(iv) is not an individual with an intellectual or developmental disability; ``(v) is not subject to an order of protection prohibiting the applicant from possessing a firearm; ``(vi) has not been convicted of a covered offense during the 5-year period preceding the date on which the application is submitted; ``(vii) has not been adjudged delinquent for an act of juvenile delinquency that if committed by an adult would be a felony; ``(viii) if the applicant was a patient in a mental health facility during a period ending more than 5 years before the date on which the application is submitted, has received a qualifying mental health evaluation; ``(ix) does not have a mental condition that makes the applicant a clear and present danger to the individual or others; and ``(x) has not intentionally made a false statement in the application under paragraph (2). ``(B) Effect of issuance to prohibited individuals.--A firearm owner license issued under this paragraph shall be null and void if issued to an individual who is prohibited by subsection (g) or (n) of section 922 from receiving a firearm. ``(C) Form of licenses.--A firearm owner license issued under this paragraph shall be in the form of a tamper-resistant card, and shall include-- ``(i) the photograph of the licensed individual submitted with the application under paragraph (2); ``(ii) the address of the licensed individual; ``(iii) the date of birth of the licensed individual; ``(iv) the sex of the licensed individual; ``(v) the height and weight of the licensed individual; ``(vi) a license number, unique to each licensed individual; ``(vii) the expiration date of the license, which shall be-- ``(I) the date that is 5 years after the initial anniversary of the date of birth of the licensed individual following the date on which the license is issued; or ``(II) in the case of a license renewed under paragraph (4), the date that is 5 years after the anniversary of the date of birth of the licensed individual following the date on which the license is renewed; ``(viii) a facsimile of the rolled fingerprints of the individual submitted in the application of the individual under paragraph (2)(A)(ix) in an encrypted, embedded, and machine-readable format; ``(ix) the signature of the licensed individual provided on the application under paragraph (2), or a facsimile of the signature; and ``(x) centered at the top of the license, capitalized, and in boldface type, the following: `FIREARM OWNER LICENSE--NOT VALID FOR ANY OTHER PURPOSE'. ``(D) Denial.-- ``(i) In general.--If the Attorney General determines that an applicant does not meet the requirements under subparagraph (A), the Attorney General shall provide written notice to the applicant that states-- ``(I) the specific grounds on which the denial is based; and ``(II) the requirements for issuance of a firearm owner license under subparagraph (A). ``(ii) Notice to local law enforcement.-- The Attorney General shall transmit a copy of the notice described in clause (i) to the sheriff and law enforcement agency having jurisdiction where the individual to whom the denial pertains resides. ``(E) Change of address.--A licensed individual shall immediately notify the Attorney General if the licensed individual moves from the residence address listed on the firearm owner license of that licensed individual. ``(4) Renewal of licenses.-- ``(A) Applications for renewal of licenses.-- ``(i) In general.--A licensed individual seeking to renew a firearm owner license shall, not later than 60 days before the expiration date of the firearm owner license, submit to the Attorney General, in accordance with the regulations promulgated under clause (iii), an application for renewal of the license. ``(ii) Contents.--An application submitted under clause (i) shall include-- ``(I) a current, passport-sized photograph of the licensed individual that provides a clear, accurate likeness of the licensed individual; ``(II) current proof of identity of the licensed individual; and ``(III) the address of the licensed individual. ``(iii) Regulations governing submission.-- The Attorney General shall promulgate regulations specifying procedures for the submission of applications under this subparagraph. ``(B) Issuance of renewed licenses.--Upon approval of an application submitted under subparagraph (A), the Attorney General shall issue a renewed license, which shall meet the requirements of paragraph (3)(C), except that the license shall include the current photograph and address of the licensed individual, as provided in the application submitted under subparagraph (A) of this paragraph, and the expiration date of the renewed license, in accordance with paragraph (3)(C)(vii)(II). ``(5) Revocation of licenses.-- ``(A) In general.--If a licensed individual becomes an individual who the Attorney General determines does not meet the requirements under paragraph (3)(A) of this subsection-- ``(i) the firearm owner license is revoked; and ``(ii) the individual shall surrender the firearm owner license to the Attorney General in accordance with paragraph (6)(A) of this subsection. ``(B) Notice.-- ``(i) In general.--Upon receipt by the Attorney General of notice that a licensed individual has become an individual described in subparagraph (A), the Attorney General shall provide written notice to the individual that-- ``(I) the firearm owner license is revoked; and ``(II) states the specific grounds on which the revocation is based. ``(ii) Notice to local law enforcement.-- The Attorney General shall transmit a copy of the notice described in clause (i) to the sheriff and law enforcement agency having jurisdiction where the individual to which the denial pertains resides. ``(6) Surrender of licenses and qualifying firearms.-- ``(A) In general.--Subject to subparagraph (D), an individual who is denied a firearm owner license under paragraph (3)(D) or receives a revocation notice under paragraph (5)(B)(i) shall, not later than 48 hours after receiving notice of the denial or revocation-- ``(i) in the case of an individual who receives a revocation notice, surrender the firearm owner license of the individual-- ``(I) by bringing the firearm owner license to an office of-- ``(aa) the Federal Bureau of Investigation; ``(bb) the Bureau of Alcohol, Tobacco, Firearms, and Explosives; or ``(cc) a United States Attorney; or ``(II) by mailing the firearm owner license to the Attorney General; ``(ii) if the individual owns or has custody and control of a qualifying firearm, complete a firearm disposition record described in subparagraph (B) and-- ``(I) in the case of an individual who receives a denial notice, submit that firearm disposition record to an entity described in clause (i); and ``(II) in the case of an individual who receives a revocation notice, submit that firearm disposition record at the same time that the individual surrenders the firearm owner license under clause (i); and ``(iii) transfer any qualifying firearm that is owned by or under the custody and control of the individual to-- ``(I) any location other than-- ``(aa) a location to which the individual has immediate access; ``(bb) a residence of the individual; ``(cc) a vehicle of the individual; or ``(dd) a storage space of the individual; or ``(II) if applicable, any person other than a member of the household of the individual. ``(B) Firearm disposition records.--The Attorney General shall prescribe a form for a firearm disposition record to be completed under subparagraph (A)(ii) that shall require an individual completing the firearm disposition record to disclose-- ``(i) the make, model, and serial number of each qualifying firearm that is owned by or under the custody and control of the individual on the date on which the firearm disposition record is completed by the individual; ``(ii) the location where each qualifying firearm described in clause (i) will be located after the individual submits the firearm disposition record; and ``(iii) if any qualifying firearm described in clause (i) will be transferred to the ownership or custody and control of another person, the name, address, and, if applicable, firearm owner license number of the transferee. ``(C) Responsibilities of receiving entities.--At the time at which an entity described in subparagraph (A)(i) receives a firearm owner license and firearm disposition record under subparagraph (A), the entity shall-- ``(i) provide to the individual surrendering the firearm owner license and submitting the firearm disposition record-- ``(I) a receipt showing that the individual surrendered the firearm owner license to the entity; and ``(II) a copy of the firearm disposition record submitted by the individual; and ``(ii) if the entity is an entity described in item (aa), (bb), or (cc) of subparagraph (A)(i)(I)-- ``(I) transmit to the Attorney General-- ``(aa) the firearm owner license; and ``(bb) the firearm disposition record; and ``(II) maintain a copy of the documents described in subclause (I) of this clause. ``(D) Right to reclaim firearm.--An individual who transfers a qualifying firearm under subparagraph (A)(iii) may reclaim the qualifying firearm after a successful application for relief or appeal under section 925(g).''. SEC. 103. RELIEF FROM DENIAL OR REVOCATION OF FIREARM OWNER LICENSES. Section 925 of title 18, United States Code, is amended by adding at the end the following: ``(g) Relief From Denial or Revocation of Firearm Owner Licenses.-- ``(1) Application to the attorney general.-- ``(A) In general.--If the Attorney General denies a firearm owner license to an individual under paragraph (3)(D) of section 923(m) or revokes the firearm owner license of an individual under paragraph (5) of that section, the individual may, not later than 60 days after the date on which the denial or revocation occurs, make an application to the Attorney General for relief from that denial or revocation. ``(B) Relief.--The Attorney General may grant relief to an applicant under subparagraph (A), if the applicant establishes to the satisfaction of the Attorney General that the circumstances relating to the denial or revocation, and the criminal record and personal reputation of the applicant, are such that-- ``(i) the applicant will not be likely to act in a manner dangerous to public safety; and ``(ii) relief under this subparagraph would not be contrary to the public interest. ``(C) Notice in the federal register.--If the Attorney General grants relief under subparagraph (B), the Attorney General shall promptly publish in the Federal Register a notice-- ``(i) that the relief was granted; and ``(ii) that describes the reasons for granting the relief. ``(2) Appeal.-- ``(A) In general.--An applicant who is denied relief under paragraph (1)(B) may file a petition for judicial review of the denial with the district court of the United States for the district in which the applicant resides. ``(B) Hearing.--A court that receives a petition under subparagraph (A) shall hold a hearing to determine whether to grant the petitioner relief described in paragraph (1)(A) not later than 72 hours after the petitioner files the petition. ``(C) Notice and opportunity to be heard.-- ``(i) In general.--The court shall provide the petitioner with notice and the opportunity to be heard at a hearing under this paragraph, sufficient to protect the due process rights of the petitioner. ``(ii) Right to counsel.-- ``(I) In general.--At a hearing under this paragraph, the petitioner may be represented by counsel who is-- ``(aa) chosen by the petitioner; and ``(bb) authorized to practice at such a hearing. ``(II) Court-provided counsel.--If the petitioner is financially unable to obtain representation by counsel, the court, at the request of the petitioner, shall ensure to the extent practicable that the petitioner is represented by an attorney for the Legal Services Corporation with respect to the petition. ``(D) Burden of proof; standard.--At a hearing under this paragraph, the Attorney General-- ``(i) shall have the burden of proving all material facts; and ``(ii) shall be required to demonstrate, by clear and convincing evidence, that the petitioner is prohibited under section 923(m)(3)(A) from receiving a firearm owner license.''. TITLE II--RECORD OF SALE OR TRANSFER SEC. 201. SALE OR TRANSFER REQUIREMENTS FOR QUALIFYING FIREARMS. Section 922 of title 18, United States Code, as amended by section 101 of this Act, is amended by adding at the end the following: ``(cc) Unauthorized Sale or Transfer of a Qualifying Firearm.--It shall be unlawful for any person to sell, deliver, or otherwise transfer a qualifying firearm to, or for, any person who is not a licensed importer, licensed manufacturer, licensed dealer, or licensed collector, or to receive a qualifying firearm from a person who is not a licensed importer, licensed manufacturer, licensed dealer, or licensed collector, unless, at the time and place of the transfer or receipt-- ``(1) the transferee presents to a licensed dealer a valid firearm owner license issued to the transferee-- ``(A) under section 923(m); or ``(B) pursuant to a State firearm licensing system certified under section 936 established by the State in which the transfer or receipt occurs; ``(2) the licensed dealer contacts the Attorney General or the head of the State agency that administers the certified system described in paragraph (1)(B), as applicable, and receives notice that the transferee has been issued a firearm owner license described in paragraph (1) and that the firearm owner license remains valid; and ``(3) the licensed dealer records on a document (which, in the case of a sale, shall be the sales receipt) a tracking authorization number provided by the Attorney General or the head of the State agency, as applicable, as evidence that the licensed dealer has verified the validity of the firearm owner license.''. SEC. 202. FIREARM RECORDS. (a) In General.--Chapter 44 of title 18, United States Code, is amended by adding at the end the following: ``Sec. 935. Firearm records ``(a) Submission of Sale or Transfer Reports.-- ``(1) In general.--Not later than 14 days after the date on which the transfer of a qualifying firearm is processed by a licensed dealer under section 922(cc), the licensed dealer shall submit to the Attorney General (or, in the case of a licensed dealer located in a State that has a State firearm licensing and record of sale system certified under section 936, to the head of the State agency that administers that system) a report of that transfer, which shall include information relating to-- ``(A) the manufacturer of the qualifying firearm; ``(B) the model name or number of the qualifying firearm; ``(C) the serial number of the qualifying firearm; ``(D) the date on which the qualifying firearm was received by the transferee; ``(E) the number of the valid firearm owner license issued to the transferee-- ``(i) under section 923(m); or ``(ii) in accordance with a State firearm licensing system certified under section 936 established by the State in which the transfer or receipt occurs; and ``(F) the name and address of the individual who transferred the firearm to the transferee. ``(2) Effective date.--This subsection shall take effect on the date that is 1 year after the date of enactment of the Blair Holt Firearm Owner Licensing and Record of Sale Act of 2024. ``(b) Federal Record of Sale System.--Not later than 270 days after the date of enactment of the Blair Holt Firearm Owner Licensing and Record of Sale Act of 2024, the Attorney General shall establish and maintain a Federal record of sale system, which shall include the information included in each report submitted to the Attorney General under subsection (a).''. (b) Elimination of Prohibition on Establishment of System of Registration.--Section 926(a) of title 18, United States Code, is amended by striking the second sentence. (c) Clerical Amendment.--The table of sections for chapter 44 of title 18, United States Code, is amended by adding at the end the following: ``935. Firearm records.''. TITLE III--ADDITIONAL PROHIBITIONS SEC. 301. FIREARMS TRANSFERS. (a) In General.--Section 922 of title 18, United States Code, as amended by sections 101 and 201 of this Act, is amended by adding at the end the following: ``(dd) Firearms Transfers.-- ``(1) In general.-- ``(A) Prohibition.--It shall be unlawful for any person who is not a licensed importer, licensed manufacturer, or licensed dealer to transfer a firearm to any other person who is not so licensed, unless a licensed importer, licensed manufacturer, or licensed dealer has first taken possession of the firearm for the purpose of complying with subsection (t). ``(B) Compliance.--Upon taking possession of a firearm under subparagraph (A), a licensee shall comply with all requirements of this chapter as if the licensee were transferring the firearm from the inventory of the licensee to the unlicensed transferee. ``(C) Return of firearms.--If a transfer of a firearm described in subparagraph (A) will not be completed for any reason after a licensee takes possession of the firearm (including because the transfer of the firearm to, or receipt of the firearm by, the transferee would violate this chapter), the return of the firearm to the transferor by the licensee shall not constitute the transfer of a firearm for purposes of this chapter. ``(2) Exceptions.--Paragraph (1) shall not apply to-- ``(A) a law enforcement agency or any law enforcement officer, armed private security professional, or member of the Armed Forces, to the extent the officer, professional, or member is acting within the course and scope of employment and official duties; ``(B) a transfer that is a loan or bona fide gift between-- ``(i) spouses; ``(ii) domestic partners; ``(iii) parents and their children, including step-parents and their step-children; ``(iv) siblings; ``(v) aunts or uncles and their nieces or nephews; or ``(vi) grandparents and their grandchildren; ``(C) a transfer to an executor, administrator, trustee, or personal representative of an estate or a trust that occurs by operation of law upon the death of another person; ``(D) a temporary transfer that is necessary to prevent imminent death or great bodily harm, including harm to self, family, household members, or others, if the possession by the transferee lasts only as long as immediately necessary to prevent the imminent death or great bodily harm, including the harm of domestic violence, dating partner violence, sexual assault, stalking, and domestic abuse; ``(E) a transfer that is approved by the Attorney General under section 5812 of the Internal Revenue Code of 1986; or ``(F) a temporary transfer if-- ``(i) the transferor has no reason to believe that the transferee-- ``(I) will use or intends to use the firearm in a crime; or ``(II) is prohibited from possessing a firearm under State or Federal law; and ``(ii) the transfer takes place and the possession of the firearm by the transferee is exclusively-- ``(I) at a shooting range or in a shooting gallery or other area designated for the purpose of target shooting; ``(II) reasonably necessary for the purposes of hunting, trapping, or fishing, if the transferor-- ``(aa) has no reason to believe that the transferee intends to use the firearm in a place where it is illegal; and ``(bb) has reason to believe that the transferee will comply with all licensing and permit requirements for such hunting, trapping, or fishing; or ``(III) in the presence of the transferor. ``(3) Notice.--It shall be unlawful for a licensed importer, licensed manufacturer, or licensed dealer to transfer possession of, or title to, a firearm to another person who is not so licensed unless-- ``(A) the importer, manufacturer, or dealer provides the person with notice of the prohibition under paragraph (1); and ``(B) the other person certifies that the importer, manufacturer, or dealer provided the person notice of the prohibition under paragraph (1) on a form prescribed by the Attorney General.''. (b) Amendment.--Section 924(a)(5) of title 18, United States Code, is amended by striking ``(s) or (t)'' and inserting ``(s), (t), or (dd)''. (c) Rules of Interpretation.--Nothing in this section, or any amendment made by this section, shall be construed to authorize the establishment, directly or indirectly, of a national firearms registry. SEC. 302. FAILURE TO MAINTAIN OR PERMIT INSPECTION OF RECORDS. Section 922 of title 18, United States Code, as amended by sections 101, 201, and 301 of this Act, is amended by adding at the end the following: ``(ee) Failure To Maintain or Permit Inspection of Records.--It shall be unlawful for a licensed manufacturer or a licensed dealer to fail to comply with section 935, or to fail to maintain such records or supply such information as the Attorney General may require in order to ascertain compliance with that section and the regulations and orders issued under that section.''. SEC. 303. FAILURE TO REPORT LOSS OR THEFT OF FIREARM. Section 922 of title 18, United States Code, as amended by sections 101, 201, 301, and 302 of this Act, is amended by adding at the end the following: ``(ff) Failure To Report Loss or Theft of Firearms.--It shall be unlawful for any person who owns a qualifying firearm to fail to report the loss or theft of the firearm to the Attorney General within 72 hours after the loss or theft is discovered by the person who owns the qualifying firearm.''. SEC. 304. FAILURE TO PROVIDE NOTICE OF CHANGE OF ADDRESS. Section 922 of title 18, United States Code, as amended by sections 101, 201, 301, 302, and 303 of this Act, is amended by adding at the end the following: ``(gg) Failure To Provide Notice of Change of Address.--It shall be unlawful for any individual to whom a firearm owner license has been issued under section 923(m) to fail to report to the Attorney General a change in the address of that individual within 60 days of that change of address.''. SEC. 305. CHILD ACCESS PREVENTION. Section 922 of title 18, United States Code, as amended by sections 101, 201, 301, 302, 303, and 304 of this Act, is amended by adding at the end the following: ``(hh) Child Access Prevention.-- ``(1) Definition of child.--In this subsection, the term `child' means an individual who has not attained 18 years of age. ``(2) Prohibition and penalties.--Except as provided in paragraph (3), it shall be unlawful for any person to keep a loaded firearm, or an unloaded firearm and ammunition for the firearm, any one of which has been shipped or transported in interstate or foreign commerce, within any premises that is under the custody or control of that person, if-- ``(A) that person-- ``(i) knows, or recklessly disregards the risk, that a child is capable of gaining access to the firearm; and ``(ii) either-- ``(I) knows, or recklessly disregards the risk, that a child will use the firearm to cause the death of, or serious bodily injury (as defined in section 1365) to, the child or any other individual; or ``(II) knows, or reasonably should know, that possession of the firearm by a child is unlawful under Federal or State law; and ``(B) a child uses the firearm and the use of that firearm causes the death of, or serious bodily injury to, the child or any other individual. ``(3) Exceptions.--Paragraph (2) shall not apply if-- ``(A) at the time the child obtained access, the firearm was secured with a secure gun storage or safety device; ``(B) the person is a peace officer, a member of the Armed Forces, or a member of the National Guard, and the child obtains the firearm during, or incidental to, the performance of the official duties of the person in that capacity; ``(C) the child uses the firearm in a lawful act of self-defense or defense of 1 or more other persons; or ``(D) the person has no reasonable expectation, based on objective facts and circumstances, that a child is likely to be present on the premises on which the firearm is kept.''. TITLE IV--ENFORCEMENT SEC. 401. CRIMINAL PENALTIES. (a) Failure To Possess Firearm Owner License; Failure To Comply With Denial and Revocation Requirements; Failure To Comply With Qualifying Firearm Sale or Transfer Requirements; Failure To Maintain or Permit Inspection of Records.--Section 924(a) of title 18, United States Code, is amended by adding at the end the following: ``(9) Whoever knowingly violates subsection (aa), (bb), (cc), or (ee) of section 922 shall be fined under this title, imprisoned not more than 10 years, or both.''. (b) Failure To Comply With Firearms Transfer Requirements; Failure To Timely Report Loss or Theft of a Qualifying Firearm; Failure To Provide Notice of Change of Address.--Section 924(a)(5) of title 18, United States Code, is amended by striking ``(s) or (t)'' and inserting ``(t), (dd), (ff), or (gg)''. (c) Child Access Prevention.--Section 924(a) of title 18, United States Code, as amended by subsection (a) of this section, is amended by adding at the end the following: ``(10) Whoever violates section 922(hh) shall be fined under this title, imprisoned not more than 5 years, or both.''. SEC. 402. REGULATIONS. (a) In General.--The Attorney General shall issue regulations governing the licensing of possessors of qualifying firearms and the recorded sale of qualifying firearms, consistent with this Act and the amendments made by this Act, as the Attorney General determines to be reasonably necessary to-- (1) reduce or prevent deaths or injuries resulting from qualifying firearms; and (2) assist law enforcement in the apprehension of owners or users of qualifying firearms used in criminal activity. (b) Maximum Interval Between Issuance of Proposed and Final Regulation.--Not later than 120 days after the date on which the Attorney General issues a proposed regulation under subsection (a) with respect to a matter, the Attorney General shall issue a final regulation with respect to the matter. SEC. 403. INSPECTIONS. In order to determine compliance with this Act, the amendments made by this Act, and the regulations and orders issued under this Act, the Attorney General may, during regular business hours, enter any place in which firearms or firearm products are manufactured, stored, or held, for distribution in commerce, and inspect those areas where the products are manufactured, stored, or held. SEC. 404. ORDERS. The Attorney General may issue an order prohibiting the sale or transfer of any firearm that the Attorney General finds has been transferred or distributed in violation of this Act, an amendment made by this Act, or a regulation issued under this Act. SEC. 405. INJUNCTIVE ENFORCEMENT. The Attorney General may bring an action to restrain any violation of this Act or an amendment made by this Act in the district court of the United States for any district in which-- (1) the violation occurs; or (2) the defendant is found or transacts business. TITLE V--FIREARM INJURY INFORMATION AND RESEARCH SEC. 501. DUTIES OF THE ATTORNEY GENERAL. (a) In General.--The Attorney General shall-- (1) establish and maintain a firearm injury information clearinghouse to collect, investigate, analyze, and disseminate data and information relating to the causes and prevention of death and injury associated with firearms; (2) conduct continuing studies and investigations of firearm-related deaths and injuries; (3) collect and maintain current production and sales figures for each licensed manufacturer; and (4) conduct a study on the efficacy of firearms that incorporate technology that prevents the use of those firearms by unauthorized users (commonly known as ``smart guns''), in the prevention of unintended firearm deaths. (b) Availability of Information.--Periodically, but not less frequently than annually, the Attorney General shall submit to Congress and make available to the public a report on the activities and findings of the Attorney General under subsection (a). TITLE VI--EFFECT ON STATE LAW SEC. 601. EFFECT ON STATE LAW. (a) In General.--This Act and the amendments made by this Act may not be construed to preempt any provision of the law of any State or political subdivision of that State, or prevent a State or political subdivision of that State from enacting any provision of law regulating or prohibiting conduct with respect to firearms, except to the extent that the provision of law is inconsistent with any provision of this Act or an amendment made by this Act, and then only to the extent of the inconsistency. (b) Rule of Interpretation.--A provision of State law is not inconsistent with this Act or an amendment made by this Act if the provision imposes a regulation or prohibition of greater scope or a penalty of greater severity than a corresponding prohibition or penalty imposed by this Act or an amendment made by this Act. SEC. 602. CERTIFICATION OF STATE FIREARM LICENSING SYSTEMS AND STATE FIREARM RECORD OF SALE SYSTEMS. (a) In General.--Chapter 44 of title 18, United States Code, as amended by section 202 of this Act, is amended by adding at the end the following: ``Sec. 936. Certification of State firearm licensing systems and State firearm record of sale systems ``Upon a written request of the chief executive officer of a State, the Attorney General may certify-- ``(1) a firearm licensing system established by a State, if State law requires the system to satisfy the requirements applicable to the Federal firearm licensing system established under section 923(m); and ``(2) a firearm record of sale system established by a State, if State law requires the head of the State agency that administers the system to submit to the Federal firearm record of sale system established under section 935(b) a copy of each report submitted to the head of the agency under section 935(a)(1), not later than 7 days after receipt of the report.''. (b) Clerical Amendment.--The table of sections for chapter 44 of title 18, United States Code, as amended by section 202 of this Act, is amended by adding at the end the following: ``936. Certification of State firearm licensing systems and State firearm record of sale systems.''. TITLE VII--RELATIONSHIP TO OTHER LAW SEC. 701. SUBORDINATION TO ARMS EXPORT CONTROL ACT. In the event of any conflict between any provision of this Act or an amendment made by this Act, and any provision of the Arms Export Control Act (22 U.S.C. 2751 et seq.), the provision of the Arms Export Control Act shall control. TITLE VIII--INAPPLICABILITY SEC. 801. INAPPLICABILITY TO GOVERNMENTAL AUTHORITIES. This Act and the amendments made by this Act shall not apply to any department or agency of the United States, of a State, or of a political subdivision of a State, or to any official conduct of any officer or employee of such a department or agency. TITLE IX--EFFECTIVE DATES OF AMENDMENTS SEC. 901. EFFECTIVE DATES OF AMENDMENTS. (a) In General.--Except as provided in subsections (b) and (c), the amendments made by this Act shall take effect 1 year after the date of enactment of this Act. (b) Firearm Records.--The amendments made by section 202 shall take effect on the date of enactment of this Act, except as otherwise provided in the amendments made by that section. (c) Firearm Transactions.--The amendments made by subsections (a) and (b) of section 301 shall take effect 180 days after the date of enactment of this Act. <all>

usgpo

2024-06-24T00:12:19.959348

BILLS-118hr8014rfs

Transparency and Predictability in Small Business Opportunities Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8014 Referred in Senate (RFS)] <DOC> 118th CONGRESS 2d Session H. R. 8014 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Received; read twice and referred to the Committee on Small Business and Entrepreneurship _______________________________________________________________________ AN ACT To require the Administrator of the Small Business Administration to issue rules for cancelled covered solicitations, to amend the Small Business Act to provide assistance to small business concerns relating to certain cancelled solicitations, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Transparency and Predictability in Small Business Opportunities Act''. SEC. 2. SMALL BUSINESS ADMINISTRATION RULES FOR CANCELLED COVERED SOLICITATIONS. (a) In General.--Not later than 180 days after the date of the enactment of this Act, the Administrator of the Small Business Administration shall issue rules to carry out the following actions: (1) Disclose information about a covered solicitation that was issued and cancelled that includes the following: (A) A justification for the cancellation of such covered solicitation. (B) Available information about any plans to reissue such covered solicitation and any associated timeframes for such reissuance. (C) Available information about any plans to include the requirements such covered solicitation in another contract or task order of the Federal agency. (2) With respect to a cancelled covered solicitation which the Federal agency does not intend to reissue, procedures for the referral of a small business concern that prepared a bid for such covered solicitation to the Director of Small and Disadvantaged Business Utilization (as defined in section 15(k) of the Small Business Act (15 U.S.C. 644(k))) of the Federal agency for assistance in identifying similar contracting opportunities. (b) Publication.--The information required under subsection (a) shall be made publicly accessible on the single governmentwide point of entry described under section 1708 of title 41, United States Code. (c) Covered Solicitation Defined.--The term ``covered solicitation'' means a solicitation of a Federal agency for a procurement for which two or more small business concerns were eligible to submit a bid. SEC. 3. DUTIES FOR DIRECTORS OF OFFICES OF SMALL AND DISADVANTAGED BUSINESS UTILIZATION RELATING TO CERTAIN CANCELLED SOLICITATIONS. Section 15(k) of the Small Business Act (15 U.S.C. 644(k)) is amended-- (1) in paragraph (21), by striking the period at the end and inserting ``; and''; and (2) by adding at the end the following new paragraph: ``(22) shall, when notified by a small business concern that a Federal agency cancelled a solicitation for which such concern prepared a bid and such Federal agency does not intend to reissue, assist such concern with identifying similar contracting opportunities.''. SEC. 4. COMPLIANCE WITH CUTGO. No additional amounts are authorized to be appropriated to carry out this Act or the amendments made by this Act. Passed the House of Representatives June 11, 2024. Attest: KEVIN F. MCCUMBER, Clerk.

usgpo

2024-06-24T00:12:22.956307

BILLS-118s4319is

To provide for progress reports on the national transition plan related to a fluorine-free firefighting foam.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4319 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4319 To provide for progress reports on the national transition plan related to a fluorine-free firefighting foam. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Peters introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ A BILL To provide for progress reports on the national transition plan related to a fluorine-free firefighting foam. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. PROGRESS REPORTS ON THE NATIONAL TRANSITION PLAN RELATED TO A FLUORINE-FREE FIREFIGHTING FOAM. (a) In General.--Not later than 180 days after the date of enactment of this Act, and every 180 days thereafter until the progress report termination date described in subsection (c), the Administrator, in consultation with the Administrator of the Environmental Protection Agency and the Secretary of Defense, shall submit to the appropriate committees of Congress a progress report on the development and implementation of a national transition plan related to a fluorine-free firefighting foam that meets the performance standards referenced in chapter 6 of the advisory circular of the FAA titled ``Aircraft Fire Extinguishing Agents'', issued on July 8, 2004 (Advisory Circular 150/ 5210-6D) and is acceptable under section 139.319(l) of title 14, Code of Federal Regulations, for use at part 139 airports. (b) Required Information.--Each progress report under subsection (a) shall include the following: (1) An assessment of the progress made by the FAA with respect to providing part 139 airports with-- (A) guidance from the Environmental Protection Agency on acceptable environmental limits relating to fluorine-free firefighting foam; (B) guidance from the Department of Defense on the transition of the Department of Defense to a fluorine- free firefighting foam; (C) best practices for the decontamination of existing aircraft rescue and firefighting vehicles, systems, and other equipment used to deploy firefighting foam at part 139 airports; and (D) timelines for the release of policy and guidance relating to the development of implementation plans for part 139 airports to obtain approved military specification products and firefighting personnel training. (2) A comprehensive list of the amount of aqueous film- forming firefighting foam at each part 139 airport as of the date of the submission of the progress report, including the amount of such firefighting foam held in firefighting equipment and the number of gallons regularly kept in reserve at each such airport. (3) An assessment of the progress made by the FAA with respect to providing airports that are not part 139 airports and local authorities with responsibility for inspection and oversight with guidance described in subparagraphs (A) and (B) of paragraph (1) as such guidance relates to the use of fluorine-free firefighting foam at such airports. (4) Any other information that the Administrator determines is appropriate. (c) Progress Report Termination Date.--The progress report termination date described in this subsection is the date on which the Administrator notifies the appropriate committees of Congress that development and implementation of the national transition plan described in subsection (a) is complete. (d) Definitions.--In this section: (1) Administrator.--The term ``Administrator'' means the Administrator of the Federal Aviation Administration. (2) Appropriate committees of congress.--The term ``appropriate committees of Congress'' means the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives. (3) FAA.--The term ``FAA'' means the Federal Aviation Administration. (4) Part 139 airport defined.--The term ``part 139 airport'' means an airport certified under part 139 of title 14, Code of Federal Regulations. <all>

usgpo

2024-06-24T00:12:18.345933

BILLS-118hres1309ih

Continuing the promise of Juneteenth: honoring, preserving, and investing in freedmen’s settlements.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1309 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1309 Continuing the promise of Juneteenth: honoring, preserving, and investing in freedmen's settlements. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Ms. Kamlager-Dove (for herself, Ms. Tlaib, Ms. Crockett, Mr. Espaillat, Mr. Jackson of Illinois, Ms. Jacobs, Mr. Johnson of Georgia, Ms. Williams of Georgia, Ms. Jackson Lee, Mr. Goldman of New York, Ms. Ocasio-Cortez, Ms. Pressley, Ms. Blunt Rochester, and Ms. Moore of Wisconsin) submitted the following resolution; which was referred to the Committee on the Judiciary _______________________________________________________________________ RESOLUTION Continuing the promise of Juneteenth: honoring, preserving, and investing in freedmen's settlements. Whereas, on June 18, 2021, the Biden-Harris administration proclaimed the Juneteenth Day of Observance a Federal holiday and defined it as a day to-- (1) commemorate the past; (2) celebrate the emancipation of the formerly enslaved; and (3) remind us of the Nation's capacity to ``heal, hope and emerge in new ways''; Whereas the Biden-Harris administration also signaled Juneteenth as a call to action to ``uplift our founding ideals and collective prosperity''; Whereas over 1,200 freedmen's settlements and Black towns were established throughout the South and across the Nation before and after emancipation by free and formerly enslaved African Americans to create safer, self- sustaining, and thriving communities away from racial violence and economic discrimination; Whereas the freedmen's settlements and towns are the embodiment of ``ground-up emancipation'' and the untold story of community resilience, collective economics, and community building of churches, schools, and enterprises rooted in the African ethic of Ubuntu (I am because you/we are); Whereas many of these freedmen's settlements and towns were destroyed by Southern domestic terrorists, or otherwise became impoverished by centuries of public and private divestment, which includes uncompensated enslaved labor, failed Reconstruction, and the unmet Freedmen's Bureau's postemancipation promises to transition people who were formerly enslaved into the United States economy, Jim Crow laws, economic and housing discrimination through redlining, public housing, and transportation policies, and environmental racism; Whereas, in acknowledgment of extreme economic and racial disparities, the Environmental Protection Agency launched the Environmental and Climate Justice Program in 2022 to provide financial and technical assistance to implement environmental and climate justice activities to benefit ``underserved and overburdened'' communities across the Nation, which have continued ``disproportionate environmental health burdens, population vulnerability, and limits to effective participation in decisions with environmental consequences''; Whereas the White House further recognized the need for greater investment in disadvantaged communities through the Justice40 Initiative in 2022, where the Federal Government set a goal to direct 40 percent of overall benefits of Federal investments to communities that lack clean water, sewer infrastructure, clean energy, clean transit, affordable and sustainable housing, training and workforce development, and remediation and mitigation of legacy pollution; Whereas, approximately 45 percent of the residents of the unincorporated community of Sand Branch, Texas, established as a freedmen's settlement in 1878, live below the poverty line, and the community is surrounded by environmentally polluting facilities such as cement plants and is also a dumping ground for tires and other trash, has no local school, no proximity to medical facilities, and has not had access to clean running water for over 30 years due to contamination of the local well system, and there is no access to municipal water or sewer system, and although hydropanels have recently been installed to provide drinking water, residents continue to rely on limited donations of bottled water to meet the majority of their water needs; Whereas the unincorporated community of Africatown, Alabama, established in the 1860s as a freedmen's settlement by West Africans brought to the United States illegally aboard the ship Clotilda, consists of 1,215 people, of which 34 percent live below the poverty line, and are surrounded by industry-zoned land and potential expansions of chemical plants, resulting in continued improper waste management, causing pollution, toxic exposure, contamination, and cancer in residents; Whereas the unincorporated community of Mossville, Louisiana, established in 1790, has been encircled by over a dozen petrochemical plants, refineries, and other industrial facilities that pollute the air and water, causing elevated rates of cancer and other diseases among residents as multinational corporations continue to expand in the area, displacing many Mossville families and threatening the community's long- term survival; Whereas the community of Edmondson, Arkansas, incorporated in 1911, emerged as a thriving hub of Black-owned businesses, churches, and cotton farming, with African Americans constituting its civic leadership from the outset, and despite the injustice faced in the 1930s by systematic White racism to steal hundreds of town lots from the original Black owners and the county sheriff making false declarations of the delinquent property tax status of Black families, the Edmondson community persisted and persevered, rebuilding churches, homes, and a sense of cohesion after floods, fires, and storms; Whereas the community of Allensworth, California, established in 1908 and the first town in California to be founded, funded, and governed by African Americans, was once a promising burgeoning town off a main railroad line, but faced racist disinvestment through the relocation of their train stop, seizure of water resources and subsequent drought and pollution of the aquifer, leaving the town underresourced and sparsely populated, and since then, the residents have organized to revitalize the town through agriculture and historic preservation, and are laying the groundwork for a full community revitalization using $40,000,000 of State funding allocated to the town in 2022; Whereas Oberlin Village, North Carolina, established in 1866, was once a prosperous free Black community with successful small businesses, schools, and university churches, and faced discrimination and displacement through the mid-20th century and is now undergoing vigorous efforts by the community-led Friends of Oberlin Village to restore historic buildings, preserve oral histories, and ensure that the community can continue to thrive in the future; Whereas Independence Heights, Texas, was first established in 1908 and became the first Black city in Texas in 1915, and the community built a municipal infrastructure and an ecosystem of 40 Black-owned small businesses, and now faces threats from natural disasters and gentrification that are displacing residents, including those who own property passed down through generations, leading the community to organize vehicles such as the Independence Heights Redevelopment Council to ensure community leadership in development projects and preserve its cultural and historic identity; Whereas communities such as Edmonson, Allensworth, Oberlin Village, and Independence Heights should not be exceptional cases of communities overcoming their circumstances, but rather models for the possibility of reparation, restoration, protection, and thriving of freedmen's settlement communities; Whereas it is difficult to fully quantify and understand the history and current status of all the freedmen's settlements in the United States due to lack of research and investment in analyzing, preserving, and supporting these historic settlements, towns, and communities, with a large part of this history held by the descendants of the founders and residents; Whereas these freedmen's settlements can serve as pillars of inspiration and modeling of land regeneration, ecobased economies organized around communal and collective land, and economic policies for divested communities; Whereas a handful of former freedmen's settlements have received State or local designation for their historic status, offering them an opportunity for preservation and public acknowledgment, such as the Freedmen's Town Historic District in Houston, Texas; Whereas there is an ongoing call, gaining much traction today, to preserve and document the history of freedmen's settlements, leading to projects such as the Texas Freedom Colonies Project, the Mapping Blackness Project, as well as the Freedmen's Bureau Search Portal created by the National Museum of African American History and Culture, among others; Whereas, with a greater focus and leveraging of the power of various Federal agencies' support, protection, and investment, transformation becomes possible for all these historic communities across the United States; and Whereas the current moment presents an opportunity for the Federal Government to expand on the promises made when Juneteenth was designated a Federal holiday by not only fulfilling the unmet promises and possibilities of the Freedmen's Bureau and the larger Reconstruction movement, but also to helping right the historic and present wrongs that have placed the freedmen's settlements and Black frontline communities in such chronically vulnerable positions: Now, therefore, be it Resolved, That the House of Representatives-- (1) affirms, that on Juneteenth 2024, 158 years after the 250,000 enslaved in Galveston Bay, Texas, received the news from Union troops that they were freed, that the efforts for racial justice after 250 years of United States slavery did not end on June 19, 1865; (2) acknowledges that following Juneteenth, many African Americans faced terror and repression which suppressed their ability to create stable and resilient communities or freedmen's settlements after the Civil War; (3) honors the rich history of emancipated African Americans who built communities by acquiring land and housing security for freedmen's settlements; (4) supports preserving freedmen's settlements through comprehensive documentation that utilizes oral histories and existing records as well as physical commemoration of settlement remnants; (5) encourages investing in the lasting legacies of freedmen's settlements with designated funding for historic preservation and funding economic justice initiatives to support the descendants and remaining residents of these communities; (6) recognizes the need for coordination amongst the Federal Government, State governments, agencies, and nonprofit organizations is warranted to better understand the power dynamics of the historical injustices that have taken place in the freedmen's settlements; (7) expresses a commitment to identify United States freedmen's settlements to enshrine their historic community preservation, including protecting communities from development, gentrification, and environmental hazards through strategic investment, external development regulation, community-led and driven economic development, small business creation, workforce development, and education; (8) urges the Federal Government, States, localities, nonprofit organizations, schools, and community organizations to provide ongoing support to the residents and descendants of the founders of freedmen's settlements who hold long-standing knowledge of the history of their communities to preserve the historical foundation of this Nation; (9) recognizes that coordination among the Federal Government, State governments, agencies, and nonprofit organizations is warranted to support freedmen's settlement communities and municipalities, including, but not limited to, the Environmental Protection Agency, the Department of Housing and Urban Development, food assistance programs, historic land preservation, and clean water foundations; (10) affirms that freedmen's settlements in the United States have fair standards of living, including sewage, roads, emergency services, climate-resilient infrastructure, and an overall focus on the health, well-being, sustainability, and resilience of these communities; (11) recognizes that recognizing and providing resources for freedmen's settlements will lead to greater equity and investment in historically disadvantaged communities that have faced centuries of racism, discrimination, environmental and climate injustices, and violence, as conceived since the colonization of the Americas and is continually built upon today; and (12) honors the legacies of freedom, ingenuity, resilience, and community care created by the communities in the freedmen's settlements and brings recognition and honor to the efforts of these formerly enslaved people on Juneteenth 2024. <all>

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2024-06-24T00:12:17.424784

BILLS-118s4315is

Baby Changing on Board Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4315 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4315 To require Amtrak to install baby changing tables in all ADA-accessible bathrooms on passenger rail cars. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Welch (for himself and Mrs. Blackburn) introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ A BILL To require Amtrak to install baby changing tables in all ADA-accessible bathrooms on passenger rail cars. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Baby Changing on Board Act''. SEC. 2. INSTALLATION OF BABY CHANGING TABLES ON AMTRAK TRAINS. (a) In General.--Chapter 243 of title 49, United States Code, is amended by inserting after section 24313 the following: ``Sec. 24314. Baby changing tables ``(a) Definitions.--In this section: ``(1) ADA-compliant restroom.--The term `ADA-compliant restroom' means a restroom that complies with the requirements set forth in section 242(a) of the Americans with Disabilities Act of 1990 (42 U.S.C. 12162(a)). ``(2) Baby changing table.--The term `baby changing table' means an elevated, freestanding structure generally designed to support and retain a child with a body weight of up to 30 pounds in a horizontal position for the purpose of allowing an individual to change the child's diaper, including pull-out or drop-down changing surfaces. ``(3) Covered passenger rail train.--The term `covered passenger rail train'-- ``(A) means a passenger rail train that-- ``(i) is owned and operated by the National Railroad Passenger Corporation (commonly known as `Amtrak'); and ``(ii) was solicited for purchase after the date of the enactment of the Baby Changing on Board Act for use by Amtrak; and ``(B) does not include any passenger rail train that Amtrak operates, but does not own. ``(b) Baby Changing Tables.-- ``(1) In general.--All covered passenger rail trains shall have a baby changing table in each ADA-compliant restroom. ``(2) Signage.--Each ADA-compliant restroom shall clearly indicate with signage the presence of a baby changing table and such baby changing tables shall be clearly identified with signage.''. (b) Clerical Amendment.--The chapter analysis for chapter 243 of title 49, United States Code, is amended by inserting after the item relating to section 24313 the following: ``24314. Baby changing tables.''. <all>

usgpo

2024-06-24T00:12:19.945118

BILLS-118hres1306ih

Expressing support for the designation of June 21, 2024, as National ASK (Asking Saves Kids) Day to promote children’s health and safe storage of guns in the home.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1306 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1306 Expressing support for the designation of June 21, 2024, as National ASK (Asking Saves Kids) Day to promote children's health and safe storage of guns in the home. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Mr. Crow (for himself, Mrs. McBath, Ms. McClellan, Ms. Kamlager-Dove, Mrs. Cherfilus-McCormick, Ms. Norton, Mr. Schiff, Mrs. Hayes, Ms. Brownley, Mr. Vargas, Mr. Krishnamoorthi, Mr. Goldman of New York, Ms. Kelly of Illinois, Ms. Stevens, Mr. Moulton, Mr. Raskin, Mr. Swalwell, Mr. Johnson of Georgia, and Mr. Peters) submitted the following resolution; which was referred to the Committee on Energy and Commerce _______________________________________________________________________ RESOLUTION Expressing support for the designation of June 21, 2024, as National ASK (Asking Saves Kids) Day to promote children's health and safe storage of guns in the home. Whereas firearm-related deaths are now the leading cause of death in United States children; Whereas, according to estimates from the Healthcare Cost and Utilization Project, on average, 22 children and teens per day were injured or killed from the discharge of a firearm; Whereas 4.6 million children in the United States live in homes with loaded and unlocked guns; Whereas, in States that collect data through the National Violent Death Reporting System, on average, 80 percent of unintentional firearm deaths of children under 15 occurred in a home; Whereas, in approximately 80 percent of school shootings by a student, the gun was brought from their home or the home of a family member and owned by an adult family member; Whereas the ASK Campaign encourages parents to add a question to a conversation before their child visits other homes, ``Is there a gun in your house?'', and follow affirmative answers with, ``Is it locked and unloaded?''; Whereas asking these simple questions about gun safety before sending your child to visit or play at another home could help save your child's life; Whereas asking these questions will raise awareness of the need for safe storage of guns in the home as a proven effective preventative safety measure; Whereas asking these questions will prevent incidents of family fire, in which an improperly stored or misused gun results in injury or death; Whereas the ASK Campaign was first established with the American Academy of Pediatrics (AAP) in 2000 and is currently administered by the Brady Campaign; Whereas the president of the AAP has said, ``Keeping children and teens safe from preventable injuries is one of the most important things we do as pediatricians.''; Whereas, a November 2017 Government Accountability Office report, ``Personal Firearms: Programs that Promote Safe Storage and Research on Their Effectiveness'', identified 16 public or nonprofit programs that promote safe gun storage, including the ASK program, and reported that the ASK program was the only national program to be evaluated and validated as effective; Whereas June 21, the first day of summer, the season in which kids typically spend more time at a friend's or family member's home, has traditionally been designated as National ASK Day; Whereas the Brady Center and Campaign, its more than 100 chapters in a majority of States throughout the Nation, and its many local, State, and national partners come together to highlight the ASK Campaign each year in communities across the Nation; and Whereas June 21 is designated by national organizations, as well as various local and State governments, including State legislatures, as the 20th annual National ASK Day: Now, therefore, be it Resolved, That the House of Representatives-- (1) supports the designation of National ASK (Asking Saves Kids) Day to encourage parents to begin asking this life-saving question; (2) encourages public health, medical, and other professionals to discuss gun ownership, gun safety, and safe storage in the home with their patients and parents and guardians of minors; and (3) supports the goals and ideals of National ASK Day. <all>

usgpo

2024-06-24T00:12:17.431823

BILLS-118hr8772rh

Legislative Branch Appropriations Act, 2025

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8772 Reported in House (RH)] <DOC> Union Calendar No. 458 118th CONGRESS 2d Session H. R. 8772 [Report No. 118-555] Making appropriations for the Legislative Branch for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 17, 2024 Mr. Valadao, from the Committee on Appropriations, reported the following bill; which was committed to the Committee of the Whole House on the State of the Union and ordered to be printed _______________________________________________________________________ A BILL Making appropriations for the Legislative Branch for the fiscal year ending September 30, 2025, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the following sums are appropriated, out of any money in the Treasury not otherwise appropriated, for the Legislative Branch for the fiscal year ending September 30, 2025, and for other purposes, namely: TITLE I LEGISLATIVE BRANCH HOUSE OF REPRESENTATIVES Payment to Widows and Heirs of Deceased Members of Congress For payment to Beatrice Y. Payne, widow of Donald M. Payne, Jr., late a Representative from the State of New Jersey, $174,000. Salaries and Expenses For salaries and expenses of the House of Representatives, $1,932,655,000, as follows: House Leadership Offices For salaries and expenses, as authorized by law, $36,560,000, including: Office of the Speaker, $10,499,000, including $35,000 for official expenses of the Speaker; Office of the Majority Floor Leader, $3,730,000, including $15,000 for official expenses of the Majority Leader; Office of the Minority Floor Leader, $10,499,000, including $17,500 for official expenses of the Minority Leader; Office of the Majority Whip, including the Chief Deputy Majority Whip, $3,099,000, including $5,000 for official expenses of the Majority Whip; Office of the Minority Whip, including the Chief Deputy Minority Whip, $2,809,000, including $5,000 for official expenses of the Minority Whip; Republican Conference, $2,962,000; Democratic Caucus, $2,962,000: Provided, That such amount for salaries and expenses shall remain available from January 3, 2025 until January 2, 2026. Members' Representational Allowances including members' clerk hire, official expenses of members, and official mail For Members' representational allowances, including Members' clerk hire, official expenses, and official mail, $843,605,000. Allowance for Compensation of Interns in Member Offices For the allowance established under section 120 of the Legislative Branch Appropriations Act, 2019 (2 U.S.C. 5322a) for the compensation of interns who serve in the offices of Members of the House of Representatives, $20,638,800, to remain available from January 3, 2025 until January 2, 2026: Provided, That notwithstanding section 120(b) of such Act, an office of a Member of the House of Representatives may use not more than $46,800 of the allowance available under this heading during legislative year 2025. Allowance for Compensation of Interns in House Leadership Offices For the allowance established under section 113 of the Legislative Branch Appropriations Act, 2020 (2 U.S.C. 5106) for the compensation of interns who serve in House leadership offices, $586,000, to remain available from January 3, 2025 until January 2, 2026: Provided, That of the amount provided under this heading, $322,300 shall be available for the compensation of interns who serve in House leadership offices of the majority, to be allocated among such offices by the Speaker of the House of Representatives, and $263,700 shall be available for the compensation of interns who serve in House leadership offices of the minority, to be allocated among such offices by the Minority Floor Leader. Allowance for Compensation of Interns in House Standing, Special and Select Committee Offices For the allowance established under section 113(a)(1) of the Legislative Branch Appropriations Act, 2022 (Public Law 117-103) for the compensation of interns who serve in offices of standing, special, and select committees (other than the Committee on Appropriations), $2,600,000, to remain available from January 3, 2025 until January 2, 2026: Provided, That of the amount provided under this heading, $1,300,000 shall be available for the compensation of interns who serve in offices of the majority, and $1,300,000 shall be available for the compensation of interns who serve in offices of the minority, to be allocated among such offices by the Chair, in consultation with the ranking minority member, of the Committee on House Administration. Allowance for Compensation of Interns in House Appropriations Committee Offices For the allowance established under section 113(a)(2) of the Legislative Branch Appropriations Act, 2022 (Public Law 117-103) for the compensation of interns who serve in offices of the Committee on Appropriations, $463,000: Provided, That of the amount provided under this heading, $231,500 shall be available for the compensation of interns who serve in offices of the majority, and $231,500 shall be available for the compensation of interns who serve in offices of the minority, to be allocated among such offices by the Chair, in consultation with the ranking minority member, of the Committee on Appropriations. Committee Employees Standing Committees, Special and Select For salaries and expenses of standing committees, special and select, authorized by House resolutions, $180,862,000: Provided, That such amount shall remain available for such salaries and expenses until December 31, 2026, except that $6,075,000 of such amount shall remain available until expended for committee room upgrading. Committee on Appropriations For salaries and expenses of the Committee on Appropriations, $31,294,000, including studies and examinations of executive agencies and temporary personal services for such committee, to be expended in accordance with section 202(b) of the Legislative Reorganization Act of 1946 and to be available for reimbursement to agencies for services performed: Provided, That such amount shall remain available for such salaries and expenses until December 31, 2026. Salaries, Officers and Employees For compensation and expenses of officers and employees, as authorized by law, $325,961,000, including: for salaries and expenses of the Office of the Clerk, including the positions of the Chaplain and the Historian, and including not more than $25,000 for official representation and reception expenses, of which not more than $20,000 is for the Family Room and not more than $2,000 is for the Office of the Chaplain, $44,984,000, of which $9,555,000 shall remain available until expended; for salaries and expenses of the Office of the Sergeant at Arms, including the position of Superintendent of Garages and the Office of Emergency Management, and including not more than $3,000 for official representation and reception expenses, $34,141,000, of which $12,625,000 shall remain available until expended; for salaries and expenses of the Office of the Chief Administrative Officer including not more than $5,000 for official representation and reception expenses, $213,072,000, of which $26,477,000 shall remain available until expended; for salaries and expenses of the Office of the Whistleblower Ombuds, $1,250,000; for salaries and expenses of the Office of the Inspector General, $5,772,000; for salaries and expenses of the Office of General Counsel, $2,048,000; for salaries and expenses of the Office of the Parliamentarian, including the Parliamentarian, $2,000 for preparing the Digest of Rules, and not more than $1,000 for official representation and reception expenses, $2,287,000; for salaries and expenses of the Office of the Law Revision Counsel of the House, $5,048,000, of which $1,000,000 shall remain available until expended; for salaries and expenses of the Office of the Legislative Counsel of the House, $15,300,000, of which $2,000,000 shall remain available until expended; for salaries and expenses of the Office of Interparliamentary Affairs, $994,000; for other authorized employees, $1,065,000. Allowances and Expenses For allowances and expenses as authorized by House resolution or law, $480,085,200, including: supplies, materials, administrative costs and Federal tort claims, $1,555,000; official mail for committees, leadership offices, and administrative offices of the House, $190,000; Government contributions for health, retirement, Social Security, contractor support for actuarial projections, and other applicable employee benefits, $428,960,200, to remain available until March 31, 2026, except that $37,000,000 of such amount shall remain available until expended; salaries and expenses for Business Continuity and Disaster Recovery, $27,428,000, of which $6,000,000 shall remain available until expended; transition activities for new members and staff, $15,786,000, to remain available until expended; Green and Gold Congressional Aide Program, $3,356,000, to remain available until expended; Office of Congressional Ethics, $1,810,000; and miscellaneous items including purchase, exchange, maintenance, repair and operation of House motor vehicles, interparliamentary receptions, and gratuities to heirs of deceased employees of the House, $1,000,000. House of Representatives Modernization Initiatives Account For the House of Representatives Modernization Initiatives Account established under section 115 of the Legislative Branch Appropriations Act, 2021 (2 U.S.C. 5513), $10,000,000, to remain available until expended: Provided, That disbursement from this account is subject to approval of the Committee on Appropriations of the House of Representatives: Provided further, That funds provided in this account shall only be used for initiatives approved by the Committee on House Administration. Administrative Provisions requiring amounts remaining in members' representational allowances to be used for deficit reduction or to reduce the federal debt Sec. 110. (a) Notwithstanding any other provision of law, any amounts appropriated under this Act for ``HOUSE OF REPRESENTATIVES-- Salaries and Expenses--members' representational allowances'' shall be available only for fiscal year 2025. Any amount remaining after all payments are made under such allowances for fiscal year 2025 shall be deposited in the Treasury and used for deficit reduction (or, if there is no Federal budget deficit after all such payments have been made, for reducing the Federal debt, in such manner as the Secretary of the Treasury considers appropriate). (b) The Committee on House Administration of the House of Representatives shall have authority to prescribe regulations to carry out this section. (c) As used in this section, the term ``Member of the House of Representatives'' means a Representative in, or a Delegate or Resident Commissioner to, the Congress. limitation on amount available to lease vehicles Sec. 111. None of the funds made available in this Act may be used by the Chief Administrative Officer of the House of Representatives to make any payments from any Members' Representational Allowance for the leasing of a vehicle, excluding mobile district offices, in an aggregate amount that exceeds $1,000 for the vehicle in any month. cybersecurity assistance for house of representatives Sec. 112. The head of any Federal entity that provides assistance to the House of Representatives in the House's efforts to deter, prevent, mitigate, or remediate cybersecurity risks to, and incidents involving, the information systems of the House shall take all necessary steps to ensure the constitutional integrity of the separate branches of the government at all stages of providing the assistance, including applying minimization procedures to limit the spread or sharing of privileged House and Member information. long term lease requirements Sec. 113. (a) Section 303(f) of the Energy Policy Act of 1992 (42 U.S.C. 13212(f)) is amended-- (1) in paragraph (2), by striking subparagraph (C); (2) in paragraph (1)(A), by striking ``branch, except that it does include the House of Representatives with respect to an acquisition described in paragraph (2)(C).'' and inserting ``branch.''; and (3) in paragraph (1), by striking subparagraph (C). (b) The amendments made by this section apply to fiscal year 2025 and each succeeding fiscal year. use of child care center revolving fund Sec. 114. (a) In General.--Section 312(d)(3) of the Legislative Branch Appropriations Act, 1992 (2 U.S.C. 2062 (d)(3)) is amended (1) by redesignating subparagraph (C) as subparagraph (D); and (2) by inserting after subparagraph (B) the following new subparagraph: ``(C) In order to ensure that the Center can receive and transmit critical and emergency communications in connection with the provision of child care services, the payment of telecom expenses for the Center, to include voicemail boxes, land lines, and official cellular devices of the Center issued to Center employees.''. (b) Effective Date.--The amendment made by subsection (a) shall apply with respect to fiscal year 2025 and each succeeding fiscal year. JOINT ITEMS For Joint Committees, as follows: Joint Economic Committee For salaries and expenses of the Joint Economic Committee, $4,283,000, to be disbursed by the Secretary of the Senate. Joint Committee on Taxation For salaries and expenses of the Joint Committee on Taxation, $14,450,000, to be disbursed by the Chief Administrative Officer of the House of Representatives. For other joint items, as follows: Office of the Attending Physician For medical supplies, equipment, and contingent expenses of the emergency rooms, and for the Attending Physician and their assistants, including: (1) an allowance of $3,500 per month to the Attending Physician; (2) an allowance of $2,500 per month to the Senior Medical Officer; (3) an allowance of $900 per month each to three medical officers while on duty in the Office of the Attending Physician; (4) an allowance of $900 per month to 2 assistants and $900 per month each not to exceed 11 assistants on the basis heretofore provided for such assistants; and (5) $3,145,000 for reimbursement to the Department of the Navy for expenses incurred for staff and equipment assigned to the Office of the Attending Physician, which shall be advanced and credited to the applicable appropriation or appropriations from which such salaries, allowances, and other expenses are payable and shall be available for all the purposes thereof, $4,416,000, to be disbursed by the Chief Administrative Officer of the House of Representatives. Office of Congressional Accessibility Services Salaries and Expenses For salaries and expenses of the Office of Congressional Accessibility Services, $1,814,000, to be disbursed by the Secretary of the Senate. CAPITOL POLICE Salaries For salaries of employees of the Capitol Police, including overtime, hazardous duty pay, and Government contributions for health, retirement, social security, professional liability insurance, and other applicable employee benefits, $619,257,000, of which overtime shall not exceed $74,976,000 unless the Committees on Appropriations of the House and Senate are notified, to be disbursed by the Chief of the Capitol Police or a duly authorized designee: Provided, That of the amount appropriated, $15,000,000 shall be available for tuition reimbursement, recruitment and retention bonuses and other retention focused salary related items. General Expenses For necessary expenses of the Capitol Police, including motor vehicles, communications and other equipment, security equipment and installation, uniforms, weapons, supplies, materials, training, medical services, forensic services, Member protection-related activities and equipment, stenographic services, personal and professional services, the employee assistance program, the awards program, postage, communication services, travel advances, relocation of instructor and liaison personnel for the Federal Law Enforcement Training Centers, and not more than $5,000 to be expended on the certification of the Chief of the Capitol Police in connection with official representation and reception expenses, $213,158,000, of which $5,848,000 shall remain available until expended to fund the Congressional Continuity of Operations (C-COOP), to be disbursed by the Chief of the Capitol Police or a duly authorized designee: Provided, That, notwithstanding any other provision of law, the cost of basic training for the Capitol Police at the Federal Law Enforcement Training Centers for fiscal year 2025 shall be paid by the Secretary of Homeland Security from funds available to the Department of Homeland Security: Provided further, That none of the amounts made available under this heading may be used to purchase a drone manufactured in the People's Republic of China or by a business affiliated with the People's Republic of China except for national security purposes. Administrative Provision authorizations regarding international training Sec. 115. (a) Section 4120 of title 5, United States Code, is amended by adding at the end the following new subsection: ``(c) An employee of the Capitol Police may receive training under this section outside of the United States only with the prior approval of the Capitol Police Board. In this subsection, the term `United States' means each of the several States of the United States, the District of Columbia, and the territories and possessions of the United States.''. (b) The amendment made by subsection (a) shall apply with respect to fiscal year 2025 and each succeeding fiscal year. OFFICE OF CONGRESSIONAL WORKPLACE RIGHTS Salaries and Expenses For salaries and expenses necessary for the operation of the Office of Congressional Workplace Rights, $8,150,000, of which $500,000 shall remain available until September 30, 2026, and of which not more than $1,000 may be expended on the certification of the Executive Director in connection with official representation and reception expenses. CONGRESSIONAL BUDGET OFFICE Salaries and Expenses For salaries and expenses necessary for operation of the Congressional Budget Office, including not more than $6,000 to be expended on the certification of the Director of the Congressional Budget Office in connection with official representation and reception expenses, $73,259,000: Provided, That the Director shall use not less than $500,000 of the amount made available under this heading for (1) improving technical systems, processes, and models for the purpose of improving the transparency of estimates of budgetary effects to Members of Congress, employees of Members of Congress, and the public, and (2) to increase the availability of models, economic assumptions, and data for Members of Congress, employees of Members of Congress, and the public. ARCHITECT OF THE CAPITOL Capital Construction and Operations For salaries for the Architect of the Capitol, and other personal services, at rates of pay provided by law; for all necessary expenses for surveys and studies, construction, operation, and general and administrative support in connection with facilities and activities under the care of the Architect of the Capitol, including the Botanic Garden, Senate and House office buildings, and other facilities under the jurisdiction of the Architect of the Capitol; for furnishings and office equipment; for official reception and representation expenses of not more than $5,000, to be expended as the Architect of the Capitol may approve; for purchase or exchange, maintenance, and operation of a passenger motor vehicle, $165,000,000, of which $1,000,000 shall remain available until September 30, 2029. Capitol Building For all necessary expenses for the maintenance, care and operation of the Capitol, $41,002,000, of which $6,599,000 shall remain available until September 30, 2029. Capitol Grounds For all necessary expenses for care and improvement of grounds surrounding the Capitol, the Senate and House office buildings, and the Capitol Power Plant, $33,922,000, of which $18,300,000 shall remain available until September 30, 2029. House Office Buildings For all necessary expenses for the maintenance, care, and operation of the House office buildings, $148,000,000, of which $64,050,000 shall remain available until September 30, 2029, and of which $5,000,000 shall remain available until expended for the restoration and renovation of the Cannon House Office Building: In addition, for a payment to the House Historic Buildings Revitalization Trust Fund, $5,500,000 to remain available until expended. Capitol Power Plant For all necessary expenses for the maintenance, care and operation of the Capitol Power Plant; and all electrical substations of the Capitol; lighting, heating, power (including the purchase of electrical energy) and water and sewer services for the Capitol, Senate and House office buildings, Library of Congress buildings, and the grounds about the same, Botanic Garden, Senate garage, and air conditioning refrigeration not supplied from plants in any of such buildings; heating the Government Publishing Office and Washington City Post Office, and heating and chilled water for air conditioning for the Supreme Court Building, the Union Station complex, the Thurgood Marshall Federal Judiciary Building and the Folger Shakespeare Library, expenses for which shall be advanced or reimbursed upon request of the Architect of the Capitol and amounts so received shall be deposited into the Treasury to the credit of this appropriation, $127,414,000, of which $21,000,000 shall remain available until September 30, 2029: Provided, That not more than $10,000,000 of the funds credited or to be reimbursed to this appropriation as herein provided shall be available for obligation during fiscal year 2025. Library Buildings and Grounds For all necessary expenses for the mechanical and structural maintenance, care and operation of the Library buildings and grounds, $86,043,000, of which $45,500,000 shall remain available until September 30, 2029. Capitol Police Buildings, Grounds and Security For all necessary expenses for the maintenance, care and operation of buildings, grounds and security enhancements of the United States Capitol Police, wherever located, the Alternate Computing Facility, and Architect of the Capitol security operations, $97,016,000, of which $28,200,000 shall remain available until September 30, 2029: Provided, That none of the amounts made available under this heading may be used to purchase a drone manufactured in the People's Republic of China or by a business affiliated with the People's Republic of China except for national security purposes. Botanic Garden For all necessary expenses for the maintenance, care and operation of the Botanic Garden and the nurseries, buildings, grounds, and collections; and purchase and exchange, maintenance, repair, and operation of a passenger motor vehicle; all under the direction of the Joint Committee on the Library, $21,214,000, of which $5,000,000 shall remain available until September 30, 2029: Provided, That, of the amount made available under this heading, the Architect of the Capitol may obligate and expend such sums as may be necessary for the maintenance, care and operation of the National Garden established under section 307E of the Legislative Branch Appropriations Act, 1989 (2 U.S.C. 2146), upon vouchers approved by the Architect of the Capitol or a duly authorized designee. Capitol Visitor Center For all necessary expenses for the operation of the Capitol Visitor Center, $29,127,000. Administrative Provision no bonuses for contractors behind schedule or over budget Sec. 116. None of the funds made available in this Act for the Architect of the Capitol may be used to make incentive or award payments to contractors for work on contracts or programs for which the contractor is behind schedule or over budget, unless the Architect of the Capitol, or agency-employed designee, determines that any such deviations are due to unforeseeable events, government-driven scope changes, or are not significant within the overall scope of the project and/or program. administration of public outreach and services for capitol grounds and arboretum Sec. 117. (a) Cooperative Agreements.--The Architect of the Capitol, subject to the approval of the Committees on Appropriations of the Senate and House of Representatives, may enter into cooperative agreements with entities under such terms as the Architect determines advisable, in order to support the Capitol Grounds and Arboretum in carrying out its duties, authorities and mission. (b) Plant Material Exchanges.--The Architect of the Capitol may engage in plant material exchanges between the Capitol Grounds and Arboretum and other entities including Federal, State, or local government agencies, botanic gardens, arboretums, educational institutions, non-profit organizations, municipal parks, and gardens. (c) Effective Date.--This section shall apply with respect to fiscal year 2025 and each succeeding fiscal year. LIBRARY OF CONGRESS Salaries and Expenses For all necessary expenses of the Library of Congress not otherwise provided for, including development and maintenance of the Library's catalogs; custody and custodial care of the Library buildings; information technology services provided centrally; special clothing; cleaning, laundering and repair of uniforms; preservation of motion pictures in the custody of the Library; operation and maintenance of the American Folklife Center in the Library; preparation and distribution of catalog records and other publications of the Library; hire or purchase of one passenger motor vehicle; and expenses of the Library of Congress Trust Fund Board not properly chargeable to the income of any trust fund held by the Board, $617,000,000, and, in addition, amounts credited to this appropriation during fiscal year 2025 under the Act of June 28, 1902 (chapter 1301; 32 Stat. 480; 2 U.S.C. 150), shall remain available until expended: Provided, That the Library of Congress may not obligate or expend any funds derived from collections under the Act of June 28, 1902, in excess of the amount authorized for obligation or expenditure in appropriations Acts: Provided further, That of the total amount appropriated, not more than $18,000 may be expended, on the certification of the Librarian of Congress, in connection with official representation and reception expenses, including for the Overseas Field Offices: Provided further, That of the total amount appropriated, no less than $10,698,000 shall remain available until expended for the Teaching with Primary Sources program, of which: Provided further, That of the total amount appropriated, $1,547,000 shall remain available until expended for upgrade of the Legislative Branch Financial Management System: Provided further, That of the total amount appropriated, $150,000 shall remain available until expended for the Surplus Books Program to promote the program and facilitate a greater number of donations to eligible entities across the United States: Provided further, That of the total amount appropriated, $4,409,000 shall remain available until expended for the Veterans History Project to continue digitization efforts of already collected materials, reach a greater number of veterans to record their stories, and promote public access to the Project. Copyright Office salaries and expenses For all necessary expenses of the Copyright Office, $105,642,000, of which not more than $38,025,000, to remain available until expended, shall be derived from collections credited to this appropriation during fiscal year 2025 under sections 708(d) and 1316 of title 17, United States Code: Provided, That the Copyright Office may not obligate or expend any funds derived from collections under such section in excess of the amount authorized for obligation or expenditure in appropriations Acts: Provided further, That not more than $7,870,000 shall be derived from collections during fiscal year 2025 under sections 111(d)(2), 119(b)(3), 803(e), and 1005 of such title: Provided further, That the total amount available for obligation shall be reduced by the amount by which collections are less than $45,895,000: Provided further, That of the funds provided under this heading, not less than $10,300,000 is for modernization initiatives, of which $9,300,000 shall remain available until September 30, 2026: Provided further, That not more than $100,000 of the amount appropriated is available for the maintenance of an ``International Copyright Institute'' in the Copyright Office of the Library of Congress for the purpose of training nationals of developing countries in intellectual property laws and policies: Provided further, That not more than $6,500 may be expended, on the certification of the Librarian of Congress, in connection with official representation and reception expenses for activities of the International Copyright Institute and for copyright delegations, visitors, and seminars: Provided further, That, notwithstanding any provision of chapter 8 of title 17, United States Code, any amounts made available under this heading which are attributable to royalty fees and payments received by the Copyright Office pursuant to sections 111, 119, and chapter 10 of such title may be used for the costs incurred in the administration of the Copyright Royalty Judges program, with the exception of the costs of salaries and benefits for the Copyright Royalty Judges and staff under section 802(e). Congressional Research Service salaries and expenses For all necessary expenses to carry out the provisions of section 203 of the Legislative Reorganization Act of 1946 (2 U.S.C. 166) and to revise and extend the Annotated Constitution of the United States of America, $141,487,000: Provided, That no part of such amount may be used to pay any salary or expense in connection with any publication, or preparation of material therefor (except the Digest of Public General Bills), to be issued by the Library of Congress unless such publication has obtained prior approval of either the Committee on House Administration of the House of Representatives or the Committee on Rules and Administration of the Senate: Provided further, That this prohibition does not apply to publication of non-confidential Congressional Research Service (CRS) products: Provided further, That a non-confidential CRS product includes any written product containing research or analysis that is currently available for general congressional access on the CRS Congressional Intranet, or that would be made available on the CRS Congressional Intranet in the normal course of business and does not include material prepared in response to Congressional requests for confidential analysis or research. National Library Service for the Blind and Print Disabled salaries and expenses For all necessary expenses to carry out the Act of March 3, 1931 (chapter 400; 46 Stat. 1487; 2 U.S.C. 135a), $65,205,000: Provided, That of the total amount appropriated, $650,000 shall be available to contract to provide newspapers to blind and print disabled residents at no cost to the individual. Administrative Provision reimbursable and revolving fund activities Sec. 118. (a) In General.--For fiscal year 2025, the obligational authority of the Library of Congress for the activities described in subsection (b) may not exceed $328,789,000. (b) Activities.--The activities referred to in subsection (a) are reimbursable and revolving fund activities that are funded from sources other than appropriations to the Library in appropriations Acts for the legislative branch. GOVERNMENT PUBLISHING OFFICE Congressional Publishing (including transfer of funds) For authorized publishing of congressional information and the distribution of congressional information in any format; publishing of Government publications authorized by law to be distributed to Members of Congress; and publishing, and distribution of Government publications authorized by law to be distributed without charge to the recipient, $83,000,000: Provided, That this appropriation shall not be available for paper copies of the permanent edition of the Congressional Record for individual Representatives, Resident Commissioners or Delegates authorized under section 906 of title 44, United States Code: Provided further, That this appropriation shall be available for the payment of obligations incurred under the appropriations for similar purposes for preceding fiscal years: Provided further, That notwithstanding the 2-year limitation under section 718 of title 44, United States Code, none of the funds appropriated or made available under this Act or any other Act for printing and binding and related services provided to Congress under chapter 7 of title 44, United States Code, may be expended to print a document, report, or publication after the 27-month period beginning on the date that such document, report, or publication is authorized by Congress to be printed, unless Congress reauthorizes such printing in accordance with section 718 of title 44, United States Code: Provided further, That unobligated or unexpended balances of expired discretionary funds made available under this heading in this Act for this fiscal year may be transferred to, and merged with, funds under the heading ``Government Publishing Office Business Operations Revolving Fund'' no later than the end of the fifth fiscal year after the last fiscal year for which such funds are available for the purposes for which appropriated, to be available for carrying out the purposes of this heading, subject to the approval of the Committees on Appropriations of the House of Representatives and the Senate: Provided further, That this appropriation shall be available for publishing congressionally mandated reports under the Access to Congressionally Mandated Reports Act, Pub. L. 117-263, div. G, title LXXII, subtitle D: Provided further, That notwithstanding sections 901, 902, and 906 of title 44, United States Code, this appropriation may be used to prepare indexes to the Congressional Record on only a monthly and session basis. Public Information Programs of the Superintendent of Documents salaries and expenses (including transfer of funds) For expenses of the public information programs of the Office of Superintendent of Documents necessary to provide for the cataloging and indexing of Government publications in any format, and their distribution to the public, Members of Congress, other Government agencies, and designated depository and international exchange libraries as authorized by law, $41,664,000: Provided, That amounts of not more than $2,000,000 from current year appropriations are authorized for producing and disseminating Congressional serial sets and other related publications for the preceding two fiscal years to depository and other designated libraries: Provided further, That unobligated or unexpended balances of expired discretionary funds made available under this heading in this Act for this fiscal year may be transferred to, and merged with, funds under the heading ``Government Publishing Office Business Operations Revolving Fund'' no later than the end of the fifth fiscal year after the last fiscal year for which such funds are available for the purposes for which appropriated, to be available for carrying out the purposes of this heading, subject to the approval of the Committees on Appropriations of the House of Representatives and the Senate. Government Publishing Office Business Operations Revolving Fund For payment to the Government Publishing Office Business Operations Revolving Fund, $11,425,000, to remain available until expended, for information technology development and facilities repair: Provided, That the Government Publishing Office is hereby authorized to make such expenditures, within the limits of funds available and in accordance with law, and to make such contracts and commitments without regard to fiscal year limitations as provided by section 9104 of title 31, United States Code, as may be necessary in carrying out the programs and purposes set forth in the budget for the current fiscal year for the Government Publishing Office Business Operations Revolving Fund: Provided further, That not more than $7,500 may be expended on the certification of the Director of the Government Publishing Office in connection with official representation and reception expenses: Provided further, That the Business Operations Revolving Fund shall be available for the hire or purchase of not more than 12 passenger motor vehicles: Provided further, That expenditures in connection with travel expenses of the advisory councils to the Director of the Government Publishing Office shall be deemed necessary to carry out the provisions of title 44, United States Code: Provided further, That the Business Operations Revolving Fund shall be available for temporary or intermittent services under section 3109(b) of title 5, United States Code, but at rates for individuals not more than the daily equivalent of the annual rate of basic pay for level V of the Executive Schedule under section 5316 of such title: Provided further, That activities financed through the Business Operations Revolving Fund may provide information in any format: Provided further, That the Business Operations Revolving Fund and the funds provided under the heading ``Public Information Programs of the Superintendent of Documents'' may not be used for contracted security services at Government Publishing Office's passport facility in the District of Columbia. GOVERNMENT ACCOUNTABILITY OFFICE Salaries and Expenses For necessary expenses of the Government Accountability Office, including not more than $12,500 to be expended on the certification of the Comptroller General of the United States in connection with official representation and reception expenses; temporary or intermittent services under section 3109(b) of title 5, United States Code, but at rates for individuals not more than the daily equivalent of the annual rate of basic pay for level IV of the Executive Schedule under section 5315 of such title; hire of one passenger motor vehicle; advance payments in foreign countries in accordance with section 3324 of title 31, United States Code; benefits comparable to those payable under sections 901(5), (6), and (8) of the Foreign Service Act of 1980 (22 U.S.C. 4081(5), (6), and (8)); and under regulations prescribed by the Comptroller General of the United States, rental of living quarters in foreign countries, $896,700,000, of which $5,000,000 shall remain available until expended: Provided, That, in addition, $33,424,000 of payments received under sections 782, 791, 3521, and 9105 of title 31, United States Code, shall be available without fiscal year limitation: Provided further, That this appropriation and appropriations for administrative expenses of any other department or agency which is a member of the National Intergovernmental Audit Forum or a Regional Intergovernmental Audit Forum shall be available to finance an appropriate share of either Forum's costs as determined by the respective Forum, including necessary travel expenses of non-Federal participants: Provided further, That payments hereunder to the Forum may be credited as reimbursements to any appropriation from which costs involved are initially financed. CONGRESSIONAL OFFICE FOR INTERNATIONAL LEADERSHIP FUND For a payment to the Congressional Office for International Leadership Fund for financing activities of the Congressional Office for International Leadership under section 313 of the Legislative Branch Appropriations Act, 2001 (2 U.S.C. 1151), $6,600,000: Provided, That funds made available to support Russian participants shall only be used for those engaging in free market development, humanitarian activities, and civic engagement, and shall not be used for officials of the central government of Russia. JOHN C. STENNIS CENTER FOR PUBLIC SERVICE TRAINING AND DEVELOPMENT For payment to the John C. Stennis Center for Public Service Development Trust Fund established under section 116 of the John C. Stennis Center for Public Service Training and Development Act (2 U.S.C. 1105), $430,000. TITLE II GENERAL PROVISIONS maintenance and care of private vehicles Sec. 201. No part of the funds appropriated in this Act shall be used for the maintenance or care of private vehicles, except for emergency assistance and cleaning as may be provided under regulations relating to parking facilities for the House of Representatives issued by the Committee on House Administration and for the Senate issued by the Committee on Rules and Administration. fiscal year limitation Sec. 202. No part of the funds appropriated in this Act shall remain available for obligation beyond fiscal year 2025 unless expressly so provided in this Act. rates of compensation and designation Sec. 203. Whenever in this Act any office or position not specifically established by the Legislative Pay Act of 1929 (46 Stat. 32 et seq.) is appropriated for or the rate of compensation or designation of any office or position appropriated for is different from that specifically established by such Act, the rate of compensation and the designation in this Act shall be the permanent law with respect thereto: Provided, That the provisions in this Act for the various items of official expenses of Members, officers, and committees of the Senate and House of Representatives, and clerk hire for Senators and Members of the House of Representatives shall be the permanent law with respect thereto. consulting services Sec. 204. The expenditure of any appropriation under this Act for any consulting service through procurement contract, under section 3109 of title 5, United States Code, shall be limited to those contracts where such expenditures are a matter of public record and available for public inspection, except where otherwise provided under existing law, or under existing Executive order issued under existing law. costs of legislative branch financial managers council Sec. 205. Amounts available for administrative expenses of any legislative branch entity which participates in the Legislative Branch Financial Managers Council (LBFMC) established by charter on March 26, 1996, shall be available to finance an appropriate share of LBFMC costs as determined by the LBFMC, except that the total LBFMC costs to be shared among all participating legislative branch entities (in such allocations among the entities as the entities may determine) may not exceed $2,000. limitation on transfers Sec. 206. None of the funds made available in this Act may be transferred to any department, agency, or instrumentality of the United States Government, except pursuant to a transfer made by, or transfer authority provided in, this Act or any other appropriation Act. guided tours of the capitol Sec. 207. (a) Except as provided in subsection (b), none of the funds made available to the Architect of the Capitol in this Act may be used to eliminate or restrict guided tours of the United States Capitol which are led by employees and interns of offices of Members of Congress and other offices of the House of Representatives and Senate, unless through regulations as authorized by section 402(b)(8) of the Capitol Visitor Center Act of 2008 (2 U.S.C. 2242(b)(8)). (b) At the direction of the Capitol Police Board, or at the direction of the Architect of the Capitol with the approval of the Capitol Police Board, guided tours of the United States Capitol which are led by employees and interns described in subsection (a) may be suspended temporarily or otherwise subject to restriction for security or related reasons to the same extent as guided tours of the United States Capitol which are led by the Architect of the Capitol. prohibition on certain operational expenses Sec. 208. (a) None of the funds made available in this Act may be used to maintain or establish a computer network unless such network blocks the viewing, downloading, and exchanging of pornography. (b) Nothing in subsection (a) shall limit the use of funds necessary for any Federal, State, tribal, or local law enforcement agency or any other entity carrying out criminal investigations, prosecution, or adjudication activities or other official government activities. prohibition on certain telecommunications equipment procurement Sec. 209. (a) Prohibition on Use or Procurement.-- (1) None of the funds appropriated or otherwise made available under this Act may be used by the head of an agency, office, or other entity to-- (A) procure or obtain or extend or renew a contract to procure or obtain any equipment, system, or service that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system; or (B) enter into a contract (or extend or renew a contract) with an entity that uses any equipment, system, or service that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system. (2) Nothing in paragraph (1) shall be construed to-- (A) prohibit the head of an agency, office, or other entity from procuring with an entity to provide a service that connects to the facilities of a third- party, such as backhaul, roaming, or interconnection arrangements; or (B) cover telecommunications equipment that cannot route or redirect user data traffic or permit visibility into any user data or packets that such equipment transmits or otherwise handles. (b) Prohibition of Loan and Grant Funds.-- (1) The head of an agency, office, or other entity may not obligate or expend loan or grant funds appropriated or otherwise made available under this Act to procure or obtain, extend or renew a contract to procure or obtain, or enter into a contract (or extend or renew a contract) to procure or obtain the equipment, services, or systems described in subsection (a). (2) In implementing the prohibition in paragraph (1), heads of agencies, offices, and entities administering loan, grant, or subsidy programs shall prioritize available funding and technical support to assist affected businesses, institutions, and organizations as is reasonably necessary for those affected agencies, offices, and entities to transition from covered communications equipment and services, to procure replacement equipment and services, and to ensure that communications service to users and customers is sustained. (3) Nothing in this subsection shall be construed to-- (A) prohibit the head of an agency, office, or entity from procuring with an entity to provide a service that connects to the facilities of a third- party, such as backhaul, roaming, or interconnection arrangements; or (B) cover telecommunications equipment that cannot route or redirect user data traffic or permit visibility into any user data or packets that such equipment transmits or otherwise handles. (c) Effective Dates.--The prohibition under subsection (a)(1)(A) shall apply with respect to fiscal year 2025 and each succeeding fiscal year, and the prohibitions under subsections (a)(1)(B) and (b)(1) shall apply with respect to fiscal year 2026 and each succeeding fiscal year. (d) Waiver Authority.--The head of an agency, office, or other entity may, on a one-time basis, waive the requirements under subsection (a) with respect to an agency, office, or entity that requests such a waiver. The waiver may be provided, for a period of not more than two years after the effective dates described in subsection (c), if the agency, office, or entity seeking the waiver-- (1) provides a compelling justification for the additional time to implement the requirements under such subsection, as determined by the head of the agency, office, or entity; and (2) submits to the head of the agency, office, or entity, who shall not later than 30 days thereafter submit to the appropriate congressional committees, a full and complete laydown of the presences of covered telecommunications or video surveillance equipment or services in the agency's, office's, or entity's supply chain and a phase-out plan to eliminate such covered telecommunications or video surveillance equipment or services from the agency's, office's, or entity's systems. (e) Definitions.--In this section, the following definitions apply: (1) The term ``appropriate congressional committees'' means the Committees on Appropriations of the House of Representatives and Senate. (2) The term ``covered telecommunications equipment or services'' means any of the following: (A) Telecommunications equipment produced by Huawei Technologies Company or ZTE Corporation (or any subsidiary or affiliate of such entities). (B) For the purpose of public safety, security of government facilities, physical security surveillance of critical infrastructure, and other national security purposes, video surveillance and telecommunications equipment produced by Hytera Communications Corporation, Hangzhou Hikvision Digital Technology Company, or Dahua Technology Company (or any subsidiary or affiliate of such entities). (C) Telecommunications or video surveillance services provided by such entities or using such equipment. (D) Telecommunications or video surveillance equipment or services produced or provided by an entity that the Secretary of Defense, in consultation with the Director of the National Intelligence or the Director of the Federal Bureau of Investigation, reasonably believes to be an entity owned or controlled by, or otherwise connected to, the government of a foreign adversary country. (3) The term ``foreign adversary country'' means a country specified in section 4872(d) of title 10, United States Code. annual rate of pay for personnel of certain legislative branch offices Sec. 210. (a) Any provision of law which prohibits an increase in the annual rate of pay which would otherwise apply during a calendar year for an employee serving in a position for which the rate of pay is fixed by statute at an Executive Schedule rate, or which prohibits the employee from receiving a rate increase during such calendar year, including section 747 of the Financial Services and General Government Appropriations Act, 2024 (division B of Public Law 118-47), shall not apply to the Director of the Government Publishing Office or the Librarian of Congress. (b) This section applies with respect to calendar year 2025 and each succeeding calendar year. limitation on treatment as fiduciary relationship Sec. 211. (a) Section 13144 of title 5, United States Code, is amended by adding at the end the following new subsection: ``(c) Limitation On Treatment As Fiduciary Relationship.--For purposes of this section, the relationship between a Member who is providing care directly to a patient in the form of medical services or dental services and the patient to whom such care is provided shall not be considered a fiduciary relationship.''. (b) The amendment made by subsection (a) shall apply with respect to compensation received in fiscal year 2025 or any succeeding fiscal year. Sec. 212. None of the funds made available by this Act may be used for any office, program, or activity for the purposes of diversity, equity, and inclusion training or implementation that promotes or perpetuates divisive concepts related to race or sex, such as the concepts that one race or sex is inherently superior to another, or that an individual's moral character or worth is determined by their race or sex. Sec. 213. (a) In General.--Notwithstanding section 7 of title 1, United States Code, section 1738C of title 28, United States Code, or any other provision of law, none of the funds provided by this Act, or previous appropriations Acts, shall be used in whole or in part to take any discriminatory action against a person, wholly or partially, on the basis that such person speaks, or acts, in accordance with a sincerely held religious belief, or moral conviction, that marriage is, or should be recognized as, a union of one man and one woman. (b) Discriminatory Action Defined.--As used in subsection (a), a discriminatory action means any action taken by the Federal Government to-- (1) alter in any way the Federal tax treatment of, or cause any tax, penalty, or payment to be assessed against, or deny, delay, or revoke an exemption from taxation under section 501(a) of the Internal Revenue Code of 1986 of, any person referred to in subsection (a) (2) disallow a deduction for Federal tax purposes of any charitable contribution made to or by such person; (3) withhold, reduce the amount or funding for, exclude, terminate, or otherwise make unavailable or deny, any Federal grant, contract, subcontract, cooperative agreement, guarantee, loan, scholarship, license, certification, accreditation, employment, or other similar position or status from or to such person; (4) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny, any entitlement or benefit under a Federal benefit program, including admission to, equal treatment in, or eligibility for a degree from an educational program, from or to such person; or (5) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny access or an entitlement to Federal property, facilities, educational institutions, speech fora (including traditional, limited, and nonpublic fora), or charitable fundraising campaigns from or to such person. (c) Accreditation; Licensure; Certification.--The Federal Government shall consider accredited, licensed, or certified for purposes of Federal law any person that would be accredited, licensed, or certified, respectively, for such purposes but for a determination against such person wholly or partially on the basis that the person speaks, or acts, in accordance with a sincerely held religious belief or moral conviction described in subsection (a). Sec. 214. Notwithstanding any other provision of law, no adjustment shall be made under section 601(a) of the Legislative Reorganization Act of 1946 (2 U.S.C. 4501) (relating to cost of living adjustments for Members of Congress) during fiscal year 2025. spending reduction account Sec. 215. $0. This Act may be cited as the ``Legislative Branch Appropriations Act, 2025''. Union Calendar No. 458 118th CONGRESS 2d Session H. R. 8772 [Report No. 118-555] _______________________________________________________________________ A BILL Making appropriations for the Legislative Branch for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ June 17, 2024 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

usgpo

2024-06-24T00:12:22.985149

BILLS-118s4541pcs

Ensuring Nationwide Access to a Better Life Experience Act; ENABLE Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4541 Placed on Calendar Senate (PCS)] <DOC> Calendar No. 419 118th CONGRESS 2d Session S. 4541 To amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 13, 2024 Mr. Schmitt (for himself and Mr. Casey) introduced the following bill; which was read the first time June 17, 2024 Read the second time and placed on the calendar _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Ensuring Nationwide Access to a Better Life Experience Act'' or the ``ENABLE Act''. SEC. 2. PERMANENT EXTENSION OF INCREASED CONTRIBUTIONS TO ABLE ACCOUNTS. (a) In General.--Section 529A(b)(2)(B)(ii) of the Internal Revenue Code of 1986 is amended by striking ``before January 1, 2026''. (b) Allowance of Savers Credit.--Section 25B(d)(1) of the Internal Revenue Code of 1986, as amended by section 103(e)(1) of the SECURE 2.0 Act of 2022, is amended by striking ``before January 1, 2026,''. (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. SEC. 3. PERMANENT EXTENSION OF ROLLOVERS TO ABLE PROGRAMS FROM 529 PROGRAMS. (a) In General.--Section 529(c)(3)(C)(i)(III) of the Internal Revenue Code of 1986 is amended by striking ``before January 1, 2026,''. (b) Effective Date.--The amendment made by this section shall apply to distributions made after the date which is 10 days after the date of the enactment of this Act. Calendar No. 419 118th CONGRESS 2d Session S. 4541 _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent. _______________________________________________________________________ June 17, 2024 Read the second time and placed on the calendar

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2024-06-24T00:12:18.934493

BILLS-118hres1305ih

Rescinding the subpoenas issued by the January 6th Select Committee on September 23, 2021, October 6, 2021, and February 9, 2022, and withdrawing the recommendations finding Stephen K. Bannon, Mark Randall Meadows, Daniel Scavino, Jr., and Peter K. Navarro in contempt of Congress.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1305 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1305 Rescinding the subpoenas issued by the January 6th Select Committee on September 23, 2021, October 6, 2021, and February 9, 2022, and withdrawing the recommendations finding Stephen K. Bannon, Mark Randall Meadows, Daniel Scavino, Jr., and Peter K. Navarro in contempt of Congress. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Mr. Burlison (for himself, Mr. Biggs, Mr. Massie, Mr. Roy, Mr. Ogles, Mr. Clyde, Mr. Gosar, Mr. Good of Virginia, Mrs. Harshbarger, Ms. Boebert, Mr. Brecheen, Mr. Higgins of Louisiana, Mrs. Miller of Illinois, Mr. Moore of Alabama, Mrs. Luna, Mr. Crane, Ms. Greene of Georgia, Mr. Banks, Mr. Cloud, Mr. Bishop of North Carolina, Mr. Rosendale, Mr. Gaetz, Mr. Davidson, and Mr. Gooden of Texas) submitted the following resolution; which was referred to the Committee on Rules, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ RESOLUTION Rescinding the subpoenas issued by the January 6th Select Committee on September 23, 2021, October 6, 2021, and February 9, 2022, and withdrawing the recommendations finding Stephen K. Bannon, Mark Randall Meadows, Daniel Scavino, Jr., and Peter K. Navarro in contempt of Congress. Whereas, on June 30, 2021, Representative Nancy Pelosi, then Speaker of the House of Representatives, established the Select Committee to Investigate the January 6th Attack on the United States Capitol (``Select Committee''); Whereas the Select Committee was deficient in its composition, as H. Res. 503, the resolution establishing the Committee stated, ``The Speaker shall appoint 13 Members to the Select Committee, 5 of whom shall be appointed after consultation with the minority leader;''; Whereas Speaker Pelosi refused to seat Republican members named by Minority Leader Kevin McCarthy to the Select Committee, resulting in a solely partisan exercise determined to vilify President Trump and his advisors for the January 6th breach of the U.S. Capitol; Whereas Speaker Pelosi refused the selections of Minority Leader McCarthy and named only Representatives Liz Cheney and Adam Kinzinger to the Select Committee, leaving the committee with nine members rather than the required thirteen; Whereas the Select Committee held hearings, issued subpoenas, and published a flawed report without the number of members required by H. Res. 503; Whereas shortly before hearings began, the Select Committee named Representative Cheney as ``Vice Chair'' and operated without a ranking minority member; Whereas the position of vice chair is distinct and different from a ranking minority member as clearly understood by House Rules, conference and caucus rules, and precedent; Whereas H. Res. 503 specifically required the Chair of the Select Committee to ``consult with the ranking minority member'' in certain circumstances; Whereas H. Res. 503 included the requirement that the Chair of the Select Committee could only issue a subpoena ``upon consultation with the ranking minority member''; Whereas House Democrats failed to draft and pass H. Res. 503 in a manner giving the Select Committee Chair unilateral authority to issue subpoenas, thereby rendering all subpoenas issued by the Select Committee legally insufficient; Whereas Representative Bennie Thompson, then Chair of the Select Committee, failed to ensure the preservation of all documents from the Select Committee as is required by House Rules, including documents, transcripts of witness interviews, and video recordings of the interviews; Whereas the Select Committee promoted numerous theories without first verifying the veracity of the allegations by interviewing witnesses with actual firsthand knowledge of the allegations; Whereas the Select Committee was a partisan exercise from the beginning and its hearings and final report are tainted by the unprecedented partisan decisions made by Speaker Pelosi; Whereas for nearly two years, the January 6th Committee presented uncorroborated evidence that fit its narrative with the intent of disgracing President Trump, his advisors, and supporters in an effort to influence future elections; Whereas members of the January 6th Committee withheld and destroyed information that would have provided evidence that former President Donald Trump did not engage in an ``insurrection''; and Whereas the imprisonment of Peter Navarro and the impending imprisonment of Steve Bannon represents an unprecedented attempt to silence and marginalize political opponents: Now, therefore, be it Resolved, That-- (1) it is the sense of the House of Representatives that the Select Committee to Investigate the January 6th Attack on the United States Capitol was illegitimate, that the conclusions and findings presented were predetermined due to the committee's partisan nature, and that the courts should set aside any convictions or commute any sentences stemming from contempt reports issued by the Select Committee; (2) the subpoenas issued on September 23, 2021, October 6, 2021, and February 9, 2022, for Stephen K. Bannon, Mark Randall Meadows, Daniel Scavino, Jr., and Peter K. Navarro are hereby rescinded; (3) H. Res. 730, recommending that the House of Representatives find Stephen K. Bannon in contempt of Congress, adopted on October 21, 2021, is withdrawn, dismissed, and otherwise ended and concluded without further proceedings or enforcement; (4) H. Res. 1037, recommending that the House of Representatives find Peter K. Navarro and Daniel Scavino, Jr. in contempt of Congress, adopted on April 6, 2022, is withdrawn, dismissed, and otherwise ended and concluded without further proceedings or enforcement; (5) H. Res. 851, recommending that the House of Representatives find Mark Randall Meadows in contempt of Congress, adopted on December 14, 2021, is withdrawn, dismissed, and otherwise ended and concluded without further proceedings or enforcement; and (6) pursuant to sections 192 and 194 of title 2, United States Code, the Speaker of the House of Representatives shall notify the Department of Justice that the subpoenas are hereby rescinded and shall be considered null and void. <all>

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2024-06-24T00:12:18.313970

BILLS-118hres1310ih

Expressing support for the designation of the month of June 2024 as National Post-Traumatic Stress Awareness Month and June 27, 2024, as National Post-Traumatic Stress Awareness Day.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1310 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1310 Expressing support for the designation of the month of June 2024 as ``National Post-Traumatic Stress Awareness Month'' and June 27, 2024, as ``National Post-Traumatic Stress Awareness Day''. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Mr. Peters (for himself, Mr. Mast, Mr. Trone, Mr. Moulton, and Mr. Thompson of California) submitted the following resolution; which was referred to the Committee on Armed Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ RESOLUTION Expressing support for the designation of the month of June 2024 as ``National Post-Traumatic Stress Awareness Month'' and June 27, 2024, as ``National Post-Traumatic Stress Awareness Day''. Whereas the brave men and women of the Armed Forces, who proudly serve the United States, risk their lives to protect the freedom, health, and welfare of the people of the United States, and deserve the investment of every possible resource to ensure their lasting physical, mental, and emotional well-being; Whereas nearly 2,800,000 members of the Armed Forces have deployed overseas since the events of September 11, 2001, and have served in places such as Afghanistan and Iraq; Whereas the current generation of men and women in the Armed Forces has sustained a high rate of operational deployments, with many members of the Armed Forces serving overseas multiple times, placing those members at high risk of enduring traumatic combat stress; Whereas, when left untreated, exposure to traumatic combat stress can lead to severe and chronic post-traumatic stress responses, commonly referred to as post-traumatic stress disorder (referred to in this preamble as ``PTSD'') or post-traumatic stress injury; Whereas many men and women of the Armed Forces and veterans who served before September 11, 2001, live with mental health needs from post-traumatic stress and remain at risk; Whereas the Secretary of Veterans Affairs reports that approximately-- (1) 11 to 20 percent of veterans who served in Operation Iraqi Freedom or Operation Enduring Freedom have PTSD in a given year; (2) 12 percent of veterans who served in the Persian Gulf war have PTSD in a given year; and (3) 30 percent of veterans who served in the Vietnam era have had PTSD in their lifetimes; Whereas the diagnosis known as PTSD was initially formulated in 1980 by the American Psychiatric Association to describe and categorize the symptoms and behavioral complications of severe traumatic stress; Whereas the symptoms and behavioral complications of severe traumatic stress have historically been unjustly portrayed in the media, stigmatizing individuals living with post traumatic stress; Whereas electro-magnetic imaging has shown that severe traumatic stress causes physical changes in the brain; Whereas many post-traumatic stress responses remain unreported, undiagnosed, and untreated due to-- (1) a lack of awareness about post-traumatic stress and the persistent stigma associated with mental health conditions; and (2) a lack of access to mental health treatment; Whereas, without timely redress, traumatic stress responses can worsen over time and lead to severe consequences, including self-destruction; Whereas exposure to trauma during service in the Armed Forces can lead to post- traumatic stress; Whereas post-traumatic stress significantly increases the risk of anxiety, depression, homelessness, substance abuse, and suicide, especially if left untreated; Whereas public perceptions of post-traumatic stress as a mental health disorder create unique challenges for veterans seeking employment; Whereas the Department of Defense, the Department of Veterans Affairs, and veterans service organizations, as well as the larger medical community, both private and public, have made significant advances in the identification, prevention, diagnosis, and treatment of post-traumatic stress and the symptoms of post-traumatic stress, but many challenges remain; Whereas increased understanding of post-traumatic stress can help to eliminate the stigma attached to the mental health issues of post-traumatic stress; Whereas additional efforts are needed to find further ways to eliminate the stigma associated with post-traumatic stress, including the recognition that post-traumatic stress is often a reparable injury, and examination of how post-traumatic stress is portrayed by the media; Whereas timely and appropriate treatment of post-traumatic stress responses can diminish complications and avert suicides; and Whereas the designation of a National Post-Traumatic Stress Awareness Month and a National Post-Traumatic Stress Awareness Day raises public awareness about issues related to post-traumatic stress, reduces the associated stigma, and helps ensure that those individuals suffering from the invisible wounds of war receive proper treatment: Now, therefore, be it Resolved, That the House of Representatives-- (1) supports the designation of ``National Post-Traumatic Stress Awareness Month'' and ``National Post-Traumatic Stress Awareness Day''; (2) supports the efforts of the Secretary of Veterans Affairs and the Secretary of Defense, as well as the entire medical community, to educate members of the Armed Forces, veterans, the families of members of the Armed Forces and veterans, and the public about the causes, symptoms, and treatment of post-traumatic stress; (3) supports efforts by the Secretary of Veterans Affairs and the Secretary of Defense to foster cultural change around the issue of post-traumatic stress, understanding that personal interactions can save lives and advance treatment; (4) welcomes the efforts of the National Center for Post- Traumatic Stress Disorder of the Department of Veterans Affairs and local Vet Centers (as defined in section 1712A(h) of title 38, United States Code) to provide assistance to veterans who are suffering from the effects of post-traumatic stress; (5) encourages the leadership of the Armed Forces to support appropriate treatment of men and women of the Armed Forces who suffer from post-traumatic stress; and (6) recognizes the impact of post-traumatic stress on the spouses and families of members of the Armed Forces and veterans. <all>

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2024-06-24T00:12:17.392084

BILLS-118sres710ats

Supporting the designation of May 29, 2024, as Mental Health Awareness in Agriculture Day to raise awareness around mental health in the agricultural industry and workforce and to continue to reduce stigma associated with mental illness.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 710 Agreed to Senate (ATS)] <DOC> 118th CONGRESS 2d Session S. RES. 710 Supporting the designation of May 29, 2024, as ``Mental Health Awareness in Agriculture Day'' to raise awareness around mental health in the agricultural industry and workforce and to continue to reduce stigma associated with mental illness. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 23, 2024 Mrs. Fischer (for herself, Mr. Bennet, and Ms. Stabenow) submitted the following resolution; which was referred to the Committee on the Judiciary June 17, 2024 Committee discharged; considered and agreed to _______________________________________________________________________ RESOLUTION Supporting the designation of May 29, 2024, as ``Mental Health Awareness in Agriculture Day'' to raise awareness around mental health in the agricultural industry and workforce and to continue to reduce stigma associated with mental illness. Whereas, according to the 2022 Census of Agriculture of the Department of Agriculture, 3,370,000 producers, less than 2 percent of the population of the United States, provide high-quality food, fuel, and fiber to the United States and abroad; Whereas, according to the Economic Policy Institute, there are approximately 1,600,000 farmworkers in the United States; Whereas, according to the National Rural Health Association, the rate of suicide among farmers is 3.5 times greater than among the general population; Whereas, according to the Mortality-Linked National Health Interview Survey, suicide rates among farmworkers are 1.4 times higher than rates across all other occupations; Whereas May is ``National Mental Health Awareness Month''; and Whereas the stigma surrounding mental and behavioral health persists and acknowledging this public health crisis and creating awareness is as important as ever: Now, therefore, be it Resolved, That the Senate-- (1) designates May 29, 2024, as ``Mental Health Awareness in Agriculture Day'' to raise awareness around mental health in the agricultural industry and reduce the stigma associated with mental illness; (2) recognizes the important role of individuals in agriculture as providers of high-quality products to the United States and the world; (3) seeks to create awareness for the unique challenges agricultural producers and workers face, such as weather unpredictability, labor intensity and shortages, farm succession, and fluctuating commodity and market prices; (4) highlights the resources available through the Farm and Ranch Stress Assistance Network (FRSAN) of the Department of Agriculture in connecting agricultural producers and workers to stress assistance programs; and (5) encourages all to observe Mental Health Awareness in Agriculture Day as an opportunity to promote mental well-being and awareness for current and future agricultural producers and workers. <all>

usgpo

2024-06-24T00:12:19.445208

BILLS-118hr8774rh

Department of Defense Appropriations Act, 2025

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8774 Reported in House (RH)] <DOC> Union Calendar No. 460 118th CONGRESS 2d Session H. R. 8774 [Report No. 118-557] Making appropriations for the Department of Defense for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 17, 2024 Mr. Calvert, from the Committee on Appropriations, reported the following bill; which was committed to the Committee of the Whole House on the State of the Union and ordered to be printed _______________________________________________________________________ A BILL Making appropriations for the Department of Defense for the fiscal year ending September 30, 2025, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the following sums are appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2025, for military functions administered by the Department of Defense and for other purposes, namely: TITLE I MILITARY PERSONNEL Military Personnel, Army For pay, allowances, individual clothing, subsistence, interest on deposits, gratuities, permanent change of station travel (including all expenses thereof for organizational movements), and expenses of temporary duty travel between permanent duty stations, for members of the Army on active duty (except members of reserve components provided for elsewhere), cadets, and aviation cadets; for members of the Reserve Officers' Training Corps; and for payments pursuant to section 156 of Public Law 97-377, as amended (42 U.S.C. 402 note), and to the Department of Defense Military Retirement Fund, $51,485,904,000. Military Personnel, Navy For pay, allowances, individual clothing, subsistence, interest on deposits, gratuities, permanent change of station travel (including all expenses thereof for organizational movements), and expenses of temporary duty travel between permanent duty stations, for members of the Navy on active duty (except members of the Reserve provided for elsewhere), midshipmen, and aviation cadets; for members of the Reserve Officers' Training Corps; and for payments pursuant to section 156 of Public Law 97-377, as amended (42 U.S.C. 402 note), and to the Department of Defense Military Retirement Fund, $39,103,278,000. Military Personnel, Marine Corps For pay, allowances, individual clothing, subsistence, interest on deposits, gratuities, permanent change of station travel (including all expenses thereof for organizational movements), and expenses of temporary duty travel between permanent duty stations, for members of the Marine Corps on active duty (except members of the Reserve provided for elsewhere); and for payments pursuant to section 156 of Public Law 97-377, as amended (42 U.S.C. 402 note), and to the Department of Defense Military Retirement Fund, $16,261,321,000. Military Personnel, Air Force For pay, allowances, individual clothing, subsistence, interest on deposits, gratuities, permanent change of station travel (including all expenses thereof for organizational movements), and expenses of temporary duty travel between permanent duty stations, for members of the Air Force on active duty (except members of reserve components provided for elsewhere), cadets, and aviation cadets; for members of the Reserve Officers' Training Corps; and for payments pursuant to section 156 of Public Law 97-377, as amended (42 U.S.C. 402 note), and to the Department of Defense Military Retirement Fund, $37,376,591,000. Military Personnel, Space Force For pay, allowances, individual clothing, subsistence, interest on deposits, gratuities, permanent change of station travel (including all expenses thereof for organizational movements), and expenses of temporary duty travel between permanent duty stations, for members of the Space Force on active duty and cadets; for members of the Reserve Officers' Training Corps; and for payments pursuant to section 156 of Public Law 97-377, as amended (42 U.S.C. 402 note), and to the Department of Defense Military Retirement Fund, $1,308,675,000. Reserve Personnel, Army For pay, allowances, clothing, subsistence, gratuities, travel, and related expenses for personnel of the Army Reserve on active duty under sections 10211, 10302, and 7038 of title 10, United States Code, or while serving on active duty under section 12301(d) of title 10, United States Code, in connection with performing duty specified in section 12310(a) of title 10, United States Code, or while undergoing reserve training, or while performing drills or equivalent duty or other duty, and expenses authorized by section 16131 of title 10, United States Code; and for payments to the Department of Defense Military Retirement Fund, $5,584,691,000. Reserve Personnel, Navy For pay, allowances, clothing, subsistence, gratuities, travel, and related expenses for personnel of the Navy Reserve on active duty under section 10211 of title 10, United States Code, or while serving on active duty under section 12301(d) of title 10, United States Code, in connection with performing duty specified in section 12310(a) of title 10, United States Code, or while undergoing reserve training, or while performing drills or equivalent duty, and expenses authorized by section 16131 of title 10, United States Code; and for payments to the Department of Defense Military Retirement Fund, $2,607,677,000. Reserve Personnel, Marine Corps For pay, allowances, clothing, subsistence, gratuities, travel, and related expenses for personnel of the Marine Corps Reserve on active duty under section 10211 of title 10, United States Code, or while serving on active duty under section 12301(d) of title 10, United States Code, in connection with performing duty specified in section 12310(a) of title 10, United States Code, or while undergoing reserve training, or while performing drills or equivalent duty, and for members of the Marine Corps platoon leaders class, and expenses authorized by section 16131 of title 10, United States Code; and for payments to the Department of Defense Military Retirement Fund, $948,708,000. Reserve Personnel, Air Force For pay, allowances, clothing, subsistence, gratuities, travel, and related expenses for personnel of the Air Force Reserve on active duty under sections 10211, 10305, and 9038 of title 10, United States Code, or while serving on active duty under section 12301(d) of title 10, United States Code, in connection with performing duty specified in section 12310(a) of title 10, United States Code, or while undergoing reserve training, or while performing drills or equivalent duty or other duty, and expenses authorized by section 16131 of title 10, United States Code; and for payments to the Department of Defense Military Retirement Fund, $2,619,717,000. National Guard Personnel, Army For pay, allowances, clothing, subsistence, gratuities, travel, and related expenses for personnel of the Army National Guard while on duty under sections 10211, 10302, or 12402 of title 10 or section 708 of title 32, United States Code, or while serving on duty under section 12301(d) of title 10 or section 502(f) of title 32, United States Code, in connection with performing duty specified in section 12310(a) of title 10, United States Code, or while undergoing training, or while performing drills or equivalent duty or other duty, and expenses authorized by section 16131 of title 10, United States Code; and for payments to the Department of Defense Military Retirement Fund, $9,975,860,000. National Guard Personnel, Air Force For pay, allowances, clothing, subsistence, gratuities, travel, and related expenses for personnel of the Air National Guard on duty under sections 10211, 10305, or 12402 of title 10 or section 708 of title 32, United States Code, or while serving on duty under section 12301(d) of title 10 or section 502(f) of title 32, United States Code, in connection with performing duty specified in section 12310(a) of title 10, United States Code, or while undergoing training, or while performing drills or equivalent duty or other duty, and expenses authorized by section 16131 of title 10, United States Code; and for payments to the Department of Defense Military Retirement Fund, $5,383,100,000. TITLE II OPERATION AND MAINTENANCE Operation and Maintenance, Army For expenses, not otherwise provided for, necessary for the operation and maintenance of the Army, as authorized by law, $59,178,129,000: Provided, That not to exceed $7,000,000 may be used for emergencies and extraordinary expenses, to be expended upon the approval or authority of the Secretary of the Army, and payments may be made upon the Secretary's certificate of necessity for confidential military purposes. Operation and Maintenance, Navy For expenses, not otherwise provided for, necessary for the operation and maintenance of the Navy and the Marine Corps, as authorized by law, $74,754,688,000: Provided, That not to exceed $7,000,000 may be used for emergencies and extraordinary expenses, to be expended upon the approval or authority of the Secretary of the Navy, and payments may be made upon the Secretary's certificate of necessity for confidential military purposes. Operation and Maintenance, Marine Corps For expenses, not otherwise provided for, necessary for the operation and maintenance of the Marine Corps, as authorized by law, $10,454,504,000. Operation and Maintenance, Air Force For expenses, not otherwise provided for, necessary for the operation and maintenance of the Air Force, as authorized by law, $64,560,558,000: Provided, That not to exceed $7,000,000 may be used for emergencies and extraordinary expenses, to be expended upon the approval or authority of the Secretary of the Air Force, and payments may be made upon the Secretary's certificate of necessity for confidential military purposes. Operation and Maintenance, Space Force For expenses, not otherwise provided for, necessary for the operation and maintenance of the Space Force, as authorized by law, $5,146,272,000. Operation and Maintenance, Defense-Wide (including transfer of funds) For expenses, not otherwise provided for, necessary for the operation and maintenance of activities and agencies of the Department of Defense (other than the military departments), as authorized by law, $53,074,990,000: Provided, That not more than $2,981,000 may be used for the Combatant Commander Initiative Fund authorized under section 166a of title 10, United States Code: Provided further, That not to exceed $10,000,000 may be used for emergencies and extraordinary expenses, to be expended upon the approval or authority of the Secretary of Defense, and payments may be made upon the Secretary's certificate of necessity for confidential military purposes: Provided further, That of the funds provided under this heading, not less than $22,738,000 shall be made available for the Procurement Technical Assistance Cooperative Agreement Program, of which not less than $5,000,000 shall be available for centers with eligible entities defined in 10 U.S.C. 4951(1)(D): Provided further, That none of the funds appropriated or otherwise made available by this Act may be used to plan or implement the consolidation of a budget or appropriations liaison office of the Office of the Secretary of Defense, the office of the Secretary of a military department, or the service headquarters of one of the Armed Forces into a legislative affairs or legislative liaison office: Provided further, That of the funds provided under this heading, $3,000,000, to remain available until September 30, 2026, shall be available only for expenses relating to certain classified activities: Provided further, That of the funds provided under this heading, $26,777,000, to remain available until expended, shall be available only for expenses relating to certain classified activities, and may be transferred as necessary by the Secretary of Defense to operation and maintenance appropriations or research, development, test and evaluation appropriations, to be merged with and to be available for the same time period as the appropriations to which transferred: Provided further, That any ceiling on the investment item unit cost of items that may be purchased with operation and maintenance funds shall not apply to the funds described in the preceding proviso: Provided further, That of the funds provided under this heading, $2,107,432,000, of which $1,423,630,000, to remain available until September 30, 2026, shall be available to provide support and assistance to foreign security forces or other groups or individuals to conduct, support or facilitate counterterrorism, crisis response, or other Department of Defense security cooperation programs: Provided further, That the Secretary of Defense shall provide quarterly reports to the Committees on Appropriations of the House of Representatives and the Senate on the use and status of funds made available in this paragraph: Provided further, That the transfer authority provided under this heading is in addition to any other transfer authority provided elsewhere in this Act. Counter-ISIS Train and Equip Fund For the ``Counter-Islamic State of Iraq and Syria Train and Equip Fund'', $528,699,000, to remain available until September 30, 2026: Provided, That such funds shall be available to the Secretary of Defense in coordination with the Secretary of State, to provide assistance, including training; equipment; logistics support, supplies, and services; stipends; infrastructure repair and renovation; construction for facility fortification and humane treatment; and sustainment, to foreign security forces, irregular forces, groups, or individuals participating, or preparing to participate in activities to counter the Islamic State of Iraq and Syria, and their affiliated or associated groups: Provided further, That amounts made available under this heading shall be available to provide assistance only for activities in a country designated by the Secretary of Defense, in coordination with the Secretary of State, as having a security mission to counter the Islamic State of Iraq and Syria, and following written notification to the congressional defense committees of such designation: Provided further, That the Secretary of Defense shall ensure that prior to providing assistance to elements of any forces or individuals, such elements or individuals are appropriately vetted, including at a minimum, assessing such elements for associations with terrorist groups or groups associated with the Government of Iran; and receiving commitments from such elements to promote respect for human rights and the rule of law: Provided further, That the Secretary of Defense shall, not fewer than 15 days prior to obligating from this appropriation account, notify the congressional defense committees in writing of the details of any such obligation: Provided further, That the Secretary of Defense may accept and retain contributions, including assistance in-kind, from foreign governments, including the Government of Iraq and other entities, to carry out assistance authorized under this heading: Provided further, That contributions of funds for the purposes provided herein from any foreign government or other entity may be credited to this Fund, to remain available until expended, and used for such purposes: Provided further, That the Secretary of Defense shall prioritize such contributions when providing any assistance for construction for facility fortification: Provided further, That the United States may accept equipment procured using funds provided under this heading that was transferred to security forces, irregular forces, or groups participating, or preparing to participate in activities to counter the Islamic State of Iraq and Syria and returned by such forces or groups to the United States, and such equipment may be treated as stocks of the Department of Defense upon written notification to the congressional defense committees: Provided further, That equipment procured using funds provided under this heading and not yet transferred to security forces, irregular forces, or groups participating, or preparing to participate in activities to counter the Islamic State of Iraq and Syria may be treated as stocks of the Department of Defense when determined by the Secretary to no longer be required for transfer to such forces or groups and upon written notification to the congressional defense committees: Provided further, That stipend support for the Kurdish Peshmerga may only be reduced commensurate with support provided from other sources, including Iraqi national funds: Provided further, That none of the funds made available under this heading may be used to procure or transfer man-portable air defense systems: Provided further, That the Secretary of Defense shall provide quarterly reports to the congressional defense committees on the use of funds provided under this heading, including, but not limited to, the number of individuals trained, the nature and scope of support and sustainment provided to each group or individual, the area of operations for each group, and the contributions of other countries, groups, or individuals. Operation and Maintenance, Army Reserve For expenses, not otherwise provided for, necessary for the operation and maintenance, including training, organization, and administration, of the Army Reserve; repair of facilities and equipment; hire of passenger motor vehicles; travel and transportation; care of the dead; recruiting; procurement of services, supplies, and equipment; and communications, $3,279,177,000. Operation and Maintenance, Navy Reserve For expenses, not otherwise provided for, necessary for the operation and maintenance, including training, organization, and administration, of the Navy Reserve; repair of facilities and equipment; hire of passenger motor vehicles; travel and transportation; care of the dead; recruiting; procurement of services, supplies, and equipment; and communications, $1,333,993,000. Operation and Maintenance, Marine Corps Reserve For expenses, not otherwise provided for, necessary for the operation and maintenance, including training, organization, and administration, of the Marine Corps Reserve; repair of facilities and equipment; hire of passenger motor vehicles; travel and transportation; care of the dead; recruiting; procurement of services, supplies, and equipment; and communications, $338,080,000. Operation and Maintenance, Air Force Reserve For expenses, not otherwise provided for, necessary for the operation and maintenance, including training, organization, and administration, of the Air Force Reserve; repair of facilities and equipment; hire of passenger motor vehicles; travel and transportation; care of the dead; recruiting; procurement of services, supplies, and equipment; and communications, $4,062,711,000. Operation and Maintenance, Army National Guard For expenses of training, organizing, and administering the Army National Guard, including medical and hospital treatment and related expenses in non-Federal hospitals; maintenance, operation, and repairs to structures and facilities; hire of passenger motor vehicles; personnel services in the National Guard Bureau; travel expenses (other than mileage), as authorized by law for Army personnel on active duty, for Army National Guard division, regimental, and battalion commanders while inspecting units in compliance with National Guard Bureau regulations when specifically authorized by the Chief, National Guard Bureau; supplying and equipping the Army National Guard as authorized by law; and expenses of repair, modification, maintenance, and issue of supplies and equipment (including aircraft), $8,591,745,000. Operation and Maintenance, Air National Guard For expenses of training, organizing, and administering the Air National Guard, including medical and hospital treatment and related expenses in non-Federal hospitals; maintenance, operation, and repairs to structures and facilities; transportation of things, hire of passenger motor vehicles; supplying and equipping the Air National Guard, as authorized by law; expenses for repair, modification, maintenance, and issue of supplies and equipment, including those furnished from stocks under the control of agencies of the Department of Defense; travel expenses (other than mileage) on the same basis as authorized by law for Air National Guard personnel on active Federal duty, for Air National Guard commanders while inspecting units in compliance with National Guard Bureau regulations when specifically authorized by the Chief, National Guard Bureau, $7,270,145,000. United States Court of Appeals for the Armed Forces For salaries and expenses necessary for the United States Court of Appeals for the Armed Forces, $21,035,000, of which not to exceed $10,000 may be used for official representation purposes. Environmental Restoration, Army (including transfer of funds) For the Department of the Army, $268,069,000, to remain available until transferred: Provided, That the Secretary of the Army shall, upon determining that such funds are required for environmental restoration, reduction and recycling of hazardous waste, removal of unsafe buildings and debris of the Department of the Army, or for similar purposes, transfer the funds made available by this appropriation to other appropriations made available to the Department of the Army, to be merged with and to be available for the same purposes and for the same time period as the appropriations to which transferred: Provided further, That upon a determination that all or part of the funds transferred from this appropriation are not necessary for the purposes provided herein, such amounts may be transferred back to this appropriation, to be merged with and to be available for the same purposes and for the same time period as this appropriation: Provided further, That amounts transferred back under the preceding proviso, and amounts credited to appropriations made under this heading pursuant to section 2703(e) of title 10, United States Code, are available until transferred under conditions set forth in the preceding provisos: Provided further, That the transfer authority provided under this heading is in addition to any other transfer authority provided elsewhere in this Act. Environmental Restoration, Navy (including transfer of funds) For the Department of the Navy, $343,591,000, to remain available until transferred: Provided, That the Secretary of the Navy shall, upon determining that such funds are required for environmental restoration, reduction and recycling of hazardous waste, removal of unsafe buildings and debris of the Department of the Navy, or for similar purposes, transfer the funds made available by this appropriation to other appropriations made available to the Department of the Navy, to be merged with and to be available for the same purposes and for the same time period as the appropriations to which transferred: Provided further, That upon a determination that all or part of the funds transferred from this appropriation are not necessary for the purposes provided herein, such amounts may be transferred back to this appropriation, to be merged with and to be available for the same purposes and for the same time period as this appropriation: Provided further, That amounts transferred back under the preceding proviso, and amounts credited to appropriations made under this heading pursuant to section 2703(e) of title 10, United States Code, are available until transferred under conditions set forth in the preceding provisos: Provided further, That the transfer authority provided under this heading is in addition to any other transfer authority provided elsewhere in this Act. Environmental Restoration, Air Force (including transfer of funds) For the Department of the Air Force, $320,256,000, to remain available until transferred: Provided, That the Secretary of the Air Force shall, upon determining that such funds are required for environmental restoration, reduction and recycling of hazardous waste, removal of unsafe buildings and debris of the Department of the Air Force, or for similar purposes, transfer the funds made available by this appropriation to other appropriations made available to the Department of the Air Force, to be merged with and to be available for the same purposes and for the same time period as the appropriations to which transferred: Provided further, That upon a determination that all or part of the funds transferred from this appropriation are not necessary for the purposes provided herein, such amounts may be transferred back to this appropriation, to be merged with and to be available for the same purposes and for the same time period as this appropriation: Provided further, That amounts transferred back under the preceding proviso, and amounts credited to appropriations made under this heading pursuant to section 2703(e) of title 10, United States Code, are available until transferred under conditions set forth in the preceding provisos: Provided further, That the transfer authority provided under this heading is in addition to any other transfer authority provided elsewhere in this Act. Environmental Restoration, Defense-Wide (including transfer of funds) For the Department of Defense, $8,800,000, to remain available until transferred: Provided, That the Secretary of Defense shall, upon determining that such funds are required for environmental restoration, reduction and recycling of hazardous waste, removal of unsafe buildings and debris of the Department of Defense, or for similar purposes, transfer the funds made available by this appropriation to other appropriations made available to the Department of Defense, to be merged with and to be available for the same purposes and for the same time period as the appropriations to which transferred: Provided further, That upon a determination that all or part of the funds transferred from this appropriation are not necessary for the purposes provided herein, such amounts may be transferred back to this appropriation, to be merged with and to be available for the same purposes and for the same time period as this appropriation: Provided further, That amounts transferred back under the preceding proviso, and amounts credited to appropriations made under this heading pursuant to section 2703(e) of title 10, United States Code, are available until transferred under conditions set forth in the preceding provisos: Provided further, That the transfer authority provided under this heading is in addition to any other transfer authority provided elsewhere in this Act. Environmental Restoration, Formerly Used Defense Sites (including transfer of funds) For the Department of the Army, $234,475,000, to remain available until transferred: Provided, That the Secretary of the Army shall, upon determining that such funds are required for environmental restoration, reduction and recycling of hazardous waste, removal of unsafe buildings and debris at sites formerly used by the Department of Defense, transfer the funds made available by this appropriation to other appropriations made available to the Department of the Army, to be merged with and to be available for the same purposes and for the same time period as the appropriations to which transferred: Provided further, That upon a determination that all or part of the funds transferred from this appropriation are not necessary for the purposes provided herein, such amounts may be transferred back to this appropriation, to be merged with and to be available for the same purposes and for the same time period as this appropriation: Provided further, That amounts transferred back under the preceding proviso, and amounts credited to appropriations made under this heading pursuant to section 2703(e) of title 10, United States Code, are available until transferred under conditions set forth in the preceding provisos: Provided further, That the transfer authority provided under this heading is in addition to any other transfer authority provided elsewhere in this Act. Overseas Humanitarian, Disaster, and Civic Aid For expenses relating to the Overseas Humanitarian, Disaster, and Civic Aid programs of the Department of Defense (consisting of the programs provided under sections 401, 402, 404, 407, 2557, and 2561 of title 10, United States Code), $115,335,000, to remain available until September 30, 2026. Cooperative Threat Reduction Account For assistance, including assistance provided by contract or by grants, under programs and activities of the Department of Defense Cooperative Threat Reduction Program authorized under the Department of Defense Cooperative Threat Reduction Act, $246,876,000, to remain available until September 30, 2027. Department of Defense Acquisition Workforce Development Account For the Department of Defense Acquisition Workforce Development Account, $56,176,000: Provided, That no other amounts may be otherwise credited or transferred to the Account, or deposited into the Account, in fiscal year 2025 pursuant to section 1705(d) of title 10, United States Code. TITLE III PROCUREMENT Aircraft Procurement, Army For construction, procurement, production, modification, and modernization of aircraft, equipment, including ordnance, ground handling equipment, spare parts, and accessories therefor; specialized equipment and training devices; expansion of public and private plants, including the land necessary therefor, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes, $3,518,727,000, to remain available for obligation until September 30, 2027. Missile Procurement, Army For construction, procurement, production, modification, and modernization of missiles, equipment, including ordnance, ground handling equipment, spare parts, and accessories therefor; specialized equipment and training devices; expansion of public and private plants, including the land necessary therefor, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes, $5,175,541,000, to remain available for obligation until September 30, 2027. Procurement of Weapons and Tracked Combat Vehicles, Army For construction, procurement, production, and modification of weapons and tracked combat vehicles, equipment, including ordnance, spare parts, and accessories therefor; specialized equipment and training devices; expansion of public and private plants, including the land necessary therefor, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes, $3,624,159,000, to remain available for obligation until September 30, 2027. Procurement of Ammunition, Army For construction, procurement, production, and modification of ammunition, and accessories therefor; specialized equipment and training devices; expansion of public and private plants, including ammunition facilities, authorized by section 2854 of title 10, United States Code, and the land necessary therefor, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes, $2,675,456,000, to remain available for obligation until September 30, 2027. Other Procurement, Army For construction, procurement, production, and modification of vehicles, including tactical, support, and non-tracked combat vehicles; the purchase of passenger motor vehicles for replacement only; communications and electronic equipment; other support equipment; spare parts, ordnance, and accessories therefor; specialized equipment and training devices; expansion of public and private plants, including the land necessary therefor, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes, $8,460,305,000, to remain available for obligation until September 30, 2027. Aircraft Procurement, Navy For construction, procurement, production, modification, and modernization of aircraft, equipment, including ordnance, spare parts, and accessories therefor; specialized equipment; expansion of public and private plants, including the land necessary therefor, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway, $17,073,401,000, to remain available for obligation until September 30, 2027. Weapons Procurement, Navy For construction, procurement, production, modification, and modernization of missiles, torpedoes, other weapons, and related support equipment including spare parts, and accessories therefor; expansion of public and private plants, including the land necessary therefor, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway, $6,049,095,000, to remain available for obligation until September 30, 2027. Procurement of Ammunition, Navy and Marine Corps For construction, procurement, production, and modification of ammunition, and accessories therefor; specialized equipment and training devices; expansion of public and private plants, including ammunition facilities, authorized by section 2854 of title 10, United States Code, and the land necessary therefor, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes, $1,599,221,000, to remain available for obligation until September 30, 2027. Shipbuilding and Conversion, Navy For expenses necessary for the construction, acquisition, or conversion of vessels as authorized by law, including armor and armament thereof, plant equipment, appliances, and machine tools and installation thereof in public and private plants; reserve plant and Government and contractor-owned equipment layaway; procurement of critical, long lead time components and designs for vessels to be constructed or converted in the future; and expansion of public and private plants, including land necessary therefor, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title, as follows: Columbia Class Submarine, $3,346,235,000; Columbia Class Submarine (AP), $6,215,939,000; Carrier Replacement Program (CVN-80), $1,123,124,000; Carrier Replacement Program (CVN-81), 674,930,000; Virginia Class Submarine, $3,615,904,000; Virginia Class Submarine (AP), $3,720,303,000; CVN Refueling Overhauls, $1,061,143,000; DDG-1000 Program, $61,100,000; DDG-51 Destroyer, $6,409,190,000; DDG-51 Destroyer (AP), $41,724,000; LPD Flight II, $1,561,963,000; LHA Replacement (AP), $61,118,000; TAO Fleet Oiler (AP), $334,461,000; Towing, Salvage, and Rescue Ship, $60,000,000; Medium Landing Ship, $29,668,000; Ship to Shore Connector, $417,000,000; Service Craft, $41,426,000; Auxiliary Personnel Lighter, $76,168,000; LCAC SLEP, $45,087,000; Auxiliary Vessels, $204,939,000; For outfitting, post delivery, conversions, and first destination transportation, $585,967,000; and Completion of Prior Year Shipbuilding Programs, $1,930,024,000. In all: $31,617,413,000, to remain available for obligation until September 30, 2029: Provided, That additional obligations may be incurred after September 30, 2029, for engineering services, tests, evaluations, and other such budgeted work that must be performed in the final stage of ship construction: Provided further, That none of the funds provided under this heading for the construction or conversion of any naval vessel to be constructed in shipyards in the United States shall be expended in foreign facilities for the construction of major components of such vessel: Provided further, That none of the funds provided under this heading shall be used for the construction of any naval vessel in foreign shipyards: Provided further, That funds appropriated or otherwise made available by this Act for Columbia Class Submarine (AP) may be available for the purposes authorized by subsections (f), (g), (h) or (i) of section 2218a of title 10, United States Code, only in accordance with the provisions of the applicable subsection. Other Procurement, Navy For procurement, production, and modernization of support equipment and materials not otherwise provided for, Navy ordnance (except ordnance for new aircraft, new ships, and ships authorized for conversion); the purchase of passenger motor vehicles for replacement only; expansion of public and private plants, including the land necessary therefor, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway, $15,510,478,000, to remain available for obligation until September 30, 2027: Provided, That such funds are also available for the maintenance, repair, and modernization of ships under a pilot program established for such purposes. Procurement, Marine Corps For expenses necessary for the procurement, manufacture, and modification of missiles, armament, military equipment, spare parts, and accessories therefor; plant equipment, appliances, and machine tools, and installation thereof in public and private plants; reserve plant and Government and contractor-owned equipment layaway; vehicles for the Marine Corps, including the purchase of passenger motor vehicles for replacement only; and expansion of public and private plants, including land necessary therefor, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title, $3,804,948,000, to remain available for obligation until September 30, 2027. Aircraft Procurement, Air Force For construction, procurement, and modification of aircraft and equipment, including armor and armament, specialized ground handling equipment, and training devices, spare parts, and accessories therefor; specialized equipment; expansion of public and private plants, Government-owned equipment and installation thereof in such plants, erection of structures, and acquisition of land, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes including rents and transportation of things, $20,842,652,000, to remain available for obligation until September 30, 2027. Missile Procurement, Air Force For construction, procurement, and modification of missiles, rockets, and related equipment, including spare parts and accessories therefor; ground handling equipment, and training devices; expansion of public and private plants, Government-owned equipment and installation thereof in such plants, erection of structures, and acquisition of land, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes including rents and transportation of things, $4,016,939,000, to remain available for obligation until September 30, 2027. Procurement of Ammunition, Air Force For construction, procurement, production, and modification of ammunition, and accessories therefor; specialized equipment and training devices; expansion of public and private plants, including ammunition facilities, authorized by section 2854 of title 10, United States Code, and the land necessary therefor, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; and procurement and installation of equipment, appliances, and machine tools in public and private plants; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes, $629,930,000, to remain available for obligation until September 30, 2027. Other Procurement, Air Force For procurement and modification of equipment (including ground guidance and electronic control equipment, and ground electronic and communication equipment), and supplies, materials, and spare parts therefor, not otherwise provided for; the purchase of passenger motor vehicles for replacement only; lease of passenger motor vehicles; and expansion of public and private plants, Government-owned equipment and installation thereof in such plants, erection of structures, and acquisition of land, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon, prior to approval of title; reserve plant and Government and contractor-owned equipment layaway, $29,865,521,000, to remain available for obligation until September 30, 2027. Procurement, Space Force For construction, procurement, and modification of spacecraft, rockets, and related equipment, including spare parts and accessories therefor; ground handling equipment, and training devices; expansion of public and private plants, Government-owned equipment and installation thereof in such plants, erection of structures, and acquisition of land, for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; reserve plant and Government and contractor-owned equipment layaway; and other expenses necessary for the foregoing purposes including rents and transportation of things, $3,933,719,000, to remain available for obligation until September 30, 2027. Procurement, Defense-Wide For expenses of activities and agencies of the Department of Defense (other than the military departments) necessary for procurement, production, and modification of equipment, supplies, materials, and spare parts therefor, not otherwise provided for; the purchase of passenger motor vehicles for replacement only; expansion of public and private plants, equipment, and installation thereof in such plants, erection of structures, and acquisition of land for the foregoing purposes, and such lands and interests therein, may be acquired, and construction prosecuted thereon prior to approval of title; reserve plant and Government and contractor-owned equipment layaway, $5,691,355,000, to remain available for obligation until September 30, 2027. Defense Production Act Purchases For activities by the Department of Defense pursuant to sections 108, 301, 302, and 303 of the Defense Production Act of 1950 (50 U.S.C. 4518, 4531, 4532, and 4533), $446,377,000, to remain available for obligation until expended, which shall be obligated and expended by the Secretary of Defense as if delegated the necessary authorities conferred by the Defense Production Act of 1950. National Guard and Reserve Equipment Account For procurement of rotary-wing aircraft; combat, tactical and support vehicles; other weapons; and other procurement items for the reserve components of the Armed Forces, $800,000,000, to remain available for obligation until September 30, 2027: Provided, That the Chiefs of National Guard and Reserve components shall, not later than 30 days after enactment of this Act, individually submit to the congressional defense committees the modernization priority assessment for their respective National Guard or Reserve component: Provided further, That none of the funds made available by this paragraph may be used to procure manned fixed wing aircraft, or procure or modify missiles, munitions, or ammunition. TITLE IV RESEARCH, DEVELOPMENT, TEST AND EVALUATION Research, Development, Test and Evaluation, Army For expenses necessary for basic and applied scientific research, development, test and evaluation, including maintenance, rehabilitation, lease, and operation of facilities and equipment, $15,335,703,000, to remain available for obligation until September 30, 2026. Research, Development, Test and Evaluation, Navy For expenses necessary for basic and applied scientific research, development, test and evaluation, including maintenance, rehabilitation, lease, and operation of facilities and equipment, $26,668,304,000, to remain available for obligation until September 30, 2026: Provided, That funds appropriated in this paragraph which are available for the V-22 may be used to meet unique operational requirements of the Special Operations Forces. Research, Development, Test and Evaluation, Air Force For expenses necessary for basic and applied scientific research, development, test and evaluation, including maintenance, rehabilitation, lease, and operation of facilities and equipment, $48,648,586,000, to remain available for obligation until September 30, 2026. Research, Development, Test and Evaluation, Space Force For expenses necessary for basic and applied scientific research, development, test and evaluation, including maintenance, rehabilitation, lease, and operation of facilities and equipment, $18,279,469,000, to remain available until September 30, 2026. Research, Development, Test and Evaluation, Defense-Wide For expenses of activities and agencies of the Department of Defense (other than the military departments), necessary for basic and applied scientific research, development, test and evaluation; advanced research projects as may be designated and determined by the Secretary of Defense, pursuant to law; maintenance, rehabilitation, lease, and operation of facilities and equipment, $36,742,144,000, to remain available for obligation until September 30, 2026. Operational Test and Evaluation, Defense For expenses, not otherwise provided for, necessary for the independent activities of the Director, Operational Test and Evaluation, in the direction and supervision of operational test and evaluation, including initial operational test and evaluation which is conducted prior to, and in support of, production decisions; joint operational testing and evaluation; and administrative expenses in connection therewith, $348,709,000, to remain available for obligation until September 30, 2026. TITLE V REVOLVING AND MANAGEMENT FUNDS Defense Working Capital Funds For the Defense Working Capital Funds, $1,712,921,000. National Defense Stockpile Transaction Fund For the National Defense Stockpile Transaction Fund, $7,629,000, for activities pursuant to the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). TITLE VI OTHER DEPARTMENT OF DEFENSE PROGRAMS Defense Health Program For expenses, not otherwise provided for, for medical and health care programs of the Department of Defense as authorized by law, $41,159,039,000; of which $38,521,736,000 shall be for operation and maintenance, of which not to exceed one percent shall remain available for obligation until September 30, 2026, and of which up to $20,299,477,000 may be available for contracts entered into under the TRICARE program; of which $398,867,000, to remain available for obligation until September 30, 2027, shall be for procurement; and of which $2,238,436,000, to remain available for obligation until September 30, 2026, shall be for research, development, test and evaluation: Provided, That of the funds provided under this heading for research, development, test and evaluation, not less than $1,164,000,000 shall be made available to the Defense Health Agency to carry out the congressionally directed medical research programs: Provided further, That, notwithstanding any other provision of law, of the amount made available under this heading for research, development, test and evaluation, not less than $12,000,000 shall be available for HIV prevention educational activities undertaken in connection with United States military training, exercises, and humanitarian assistance activities conducted primarily in African nations: Provided further, That the Secretary of Defense shall submit to the congressional defense committees quarterly reports on the current status of the electronic health record program: Provided further, That the Comptroller General of the United States shall perform quarterly performance reviews of the electronic health record program. Chemical Agents and Munitions Destruction, Defense For expenses, not otherwise provided for, necessary for the destruction of the United States stockpile of lethal chemical agents and munitions in accordance with the provisions of section 1412 of the Department of Defense Authorization Act, 1986 (50 U.S.C. 1521), $775,507,000, of which $20,745,000 shall be for operation and maintenance for the Chemical Stockpile Emergency Preparedness Program, consisting of $13,945,000 for activities on military installations and $6,800,000, to remain available until September 30, 2026, to assist State and local governments; and of which $754,762,000, to remain available until September 30, 2026, shall be for research, development, test and evaluation and shall only be for the Assembled Chemical Weapons Alternatives program. Drug Interdiction and Counter-Drug Activities, Defense (including transfer of funds) For drug interdiction and counter-drug activities of the Department of Defense, for transfer to appropriations available to the Department of Defense for military personnel of the reserve components serving under the provisions of title 10 and title 32, United States Code; for operation and maintenance; for procurement; and for research, development, test and evaluation, $1,143,269,000, of which $673,702,000 shall be for counter-narcotics support; $139,567,000 shall be for the drug demand reduction program; $305,000,000 shall be for the National Guard counter-drug program; and $25,000,000 shall be for the National Guard counter-drug schools program: Provided, That the funds appropriated under this heading shall be available for obligation for the same time period and for the same purpose as the appropriation to which transferred: Provided further, That upon a determination that all or part of the funds transferred from this appropriation are not necessary for the purposes provided herein, such amounts may be transferred back to this appropriation: Provided further, That the transfer authority provided under this heading is in addition to any other transfer authority provided elsewhere in this Act: Provided further, That funds appropriated under this heading may be used to support a new start program or project only after written prior notification to the Committees on Appropriations of the House of Representatives and the Senate. Office of the Inspector General For expenses and activities of the Office of the Inspector General in carrying out the provisions of the Inspector General Act of 1978, $539,769,000, of which $536,533,000 shall be for operation and maintenance, of which not to exceed $700,000 is available for emergencies and extraordinary expenses to be expended upon the approval or authority of the Inspector General, and payments may be made upon the Inspector General's certificate of necessity for confidential military purposes; of which $1,336,000, to remain available for obligation until September 30, 2027, shall be for procurement; and of which $1,900,000, to remain available until September 30, 2026, shall be for research, development, test and evaluation. TITLE VII RELATED AGENCIES Central Intelligence Agency Retirement and Disability System Fund For payment to the Central Intelligence Agency Retirement and Disability System Fund, to maintain the proper funding level for continuing the operation of the Central Intelligence Agency Retirement and Disability System, $514,000,000. Intelligence Community Management Account For necessary expenses of the Intelligence Community Management Account, $641,585,000. TITLE VIII GENERAL PROVISIONS Sec. 8001. No part of any appropriation contained in this Act shall be used for publicity or propaganda purposes not authorized by the Congress. Sec. 8002. During the current fiscal year, provisions of law prohibiting the payment of compensation to, or employment of, any person not a citizen of the United States shall not apply to personnel of the Department of Defense: Provided, That salary increases granted to direct and indirect hire foreign national employees of the Department of Defense funded by this Act shall not be at a rate in excess of the percentage increase authorized by law for civilian employees of the Department of Defense whose pay is computed under the provisions of section 5332 of title 5, United States Code, or at a rate in excess of the percentage increase provided by the appropriate host nation to its own employees, whichever is higher: Provided further, That this section shall not apply to Department of Defense foreign service national employees serving at United States diplomatic missions whose pay is set by the Department of State under the Foreign Service Act of 1980: Provided further, That the limitations of this provision shall not apply to foreign national employees of the Department of Defense in the Republic of Turkey. Sec. 8003. No part of any appropriation contained in this Act shall remain available for obligation beyond the current fiscal year, unless expressly so provided herein. Sec. 8004. No more than 20 percent of the appropriations in this Act which are limited for obligation during the current fiscal year shall be obligated during the last 2 months of the fiscal year: Provided, That this section shall not apply to obligations for support of active duty training of reserve components or summer camp training of the Reserve Officers' Training Corps. (transfer of funds) Sec. 8005. Upon determination by the Secretary of Defense that such action is necessary in the national interest, the Secretary may, with the approval of the Director of the Office of Management and Budget, transfer not to exceed $6,000,000,000 of working capital funds of the Department of Defense or funds made available in this Act to the Department of Defense for military functions (except military construction) between such appropriations or funds or any subdivision thereof, to be merged with and to be available for the same purposes, and for the same time period, as the appropriation or fund to which transferred: Provided, That such authority to transfer may not be used unless for higher priority items, based on unforeseen military requirements, than those for which originally appropriated and in no case where the item for which funds are requested has been denied by the Congress: Provided further, That the Secretary of Defense shall notify the Congress promptly of all transfers made pursuant to this authority or any other authority in this Act: Provided further, That no part of the funds in this Act shall be available to prepare or present a request to the Committees on Appropriations of the House of Representatives and the Senate for reprogramming of funds, unless for higher priority items, based on unforeseen military requirements, than those for which originally appropriated and in no case where the item for which reprogramming is requested has been denied by the Congress: Provided further, That a request for multiple reprogrammings of funds using authority provided in this section shall be made prior to June 30, 2025: Provided further, That transfers among military personnel appropriations shall not be taken into account for purposes of the limitation on the amount of funds that may be transferred under this section. Sec. 8006. (a) With regard to the list of specific programs, projects, and activities (and the dollar amounts and adjustments to budget activities corresponding to such programs, projects, and activities) contained in the tables titled Explanation of Project Level Adjustments in the explanatory statement regarding this Act and the tables contained in the classified annex accompanying this Act, the obligation and expenditure of amounts appropriated or otherwise made available in this Act for those programs, projects, and activities are hereby required by law to be carried out in the manner provided by such tables to the same extent as if the tables were included in the text of this Act. (b) Amounts specified in the referenced tables described in subsection (a) shall not be treated as subdivisions of appropriations for purposes of section 8005 of this Act: Provided, That section 8005 of this Act shall apply when transfers of the amounts described in subsection (a) occur between appropriation accounts, subject to the limitation in subsection (c): Provided further, That the transfer amount limitation provided in section 8005 of this Act shall not apply to transfers of amounts described in subsection (a) if such transfers are necessary for the proper execution of such funds. (c) During the current fiscal year, amounts specified in the referenced tables in titles III and IV of this Act described in subsection (a) may not be transferred pursuant to section 8005 of this Act other than for proper execution of such amounts, as provided in subsection (b). Sec. 8007. (a) Not later than 60 days after the date of the enactment of this Act, the Department of Defense shall submit a report to the congressional defense committees to establish the baseline for application of reprogramming and transfer authorities for fiscal year 2025: Provided, That the report shall include-- (1) a table for each appropriation with a separate column to display the President's budget request, adjustments made by Congress, adjustments due to enacted rescissions, if appropriate, and the fiscal year enacted level; (2) a delineation in the table for each appropriation both by budget activity and program, project, and activity as detailed in the Budget Appendix; and (3) an identification of items of special congressional interest. (b) Notwithstanding section 8005 of this Act, none of the funds provided in this Act shall be available for reprogramming or transfer until the report identified in subsection (a) is submitted to the congressional defense committees, unless the Secretary of Defense certifies in writing to the congressional defense committees that such reprogramming or transfer is necessary as an emergency requirement: Provided, That this subsection shall not apply to transfers from the following appropriations accounts: (1) ``Environmental Restoration, Army''; (2) ``Environmental Restoration, Navy''; (3) ``Environmental Restoration, Air Force''; (4) ``Environmental Restoration, Defense-Wide''; (5) ``Environmental Restoration, Formerly Used Defense Sites''; and (6) ``Drug Interdiction and Counter-drug Activities, Defense''. (transfer of funds) Sec. 8008. During the current fiscal year, cash balances in working capital funds of the Department of Defense established pursuant to section 2208 of title 10, United States Code, may be maintained in only such amounts as are necessary at any time for cash disbursements to be made from such funds: Provided, That transfers may be made between such funds: Provided further, That transfers may be made between working capital funds and the ``Foreign Currency Fluctuations, Defense'' appropriation and the ``Operation and Maintenance'' appropriation accounts in such amounts as may be determined by the Secretary of Defense, with the approval of the Director of the Office of Management and Budget, except that such transfers may not be made unless the Secretary of Defense has notified the Congress of the proposed transfer: Provided further, That except in amounts equal to the amounts appropriated to working capital funds in this Act, no obligations may be made against a working capital fund to procure or increase the value of war reserve material inventory, unless the Secretary of Defense has notified the Congress prior to any such obligation. Sec. 8009. Funds appropriated by this Act may not be used to initiate a special access program without prior notification 30 calendar days in advance to the congressional defense committees. Sec. 8010. None of the funds provided by this Act shall be available to initiate: (1) a multiyear contract that employs economic order quantity procurement in excess of $20,000,000 in any one year of the contract or that includes an unfunded contingent liability in excess of $20,000,000; or (2) a contract for advance procurement leading to a multiyear contract that employs economic order quantity procurement in excess of $20,000,000 in any one year, unless the congressional defense committees have been notified at least 30 days in advance of the proposed contract award: Provided, That no part of any appropriation contained in this Act shall be available to initiate a multiyear contract for which the economic order quantity advance procurement is not funded at least to the limits of the Government's liability: Provided further, That no part of any appropriation contained in this Act shall be available to initiate multiyear procurement contracts for any systems or component thereof if the value of the multiyear contract would exceed $500,000,000 unless specifically provided in this Act: Provided further, That no multiyear procurement contract can be terminated without 30-day prior notification to the congressional defense committees: Provided further, That the execution of multiyear authority shall require the use of a present value analysis to determine lowest cost compared to an annual procurement: Provided further, That none of the funds provided by this Act may be used for a multiyear contract executed after the date of the enactment of this Act unless in the case of any such contract-- (1) the Secretary of Defense has submitted to Congress a budget request for full funding of units to be procured through the contract and, in the case of a contract for procurement of aircraft, that includes, for any aircraft unit to be procured through the contract for which procurement funds are requested in that budget request for production beyond advance procurement activities in the fiscal year covered by the budget, full funding of procurement of such unit in that fiscal year; (2) cancellation provisions in the contract do not include consideration of recurring manufacturing costs of the contractor associated with the production of unfunded units to be delivered under the contract; (3) the contract provides that payments to the contractor under the contract shall not be made in advance of incurred costs on funded units; and (4) the contract does not provide for a price adjustment based on a failure to award a follow-on contract. Funds appropriated in title III of this Act may be used for multiyear procurement contracts for CH-53K Heavy Lift helicopters, and USS Virginia Class (SSN-774). Sec. 8011. Within the funds appropriated for the operation and maintenance of the Armed Forces, funds are hereby appropriated pursuant to section 401 of title 10, United States Code, for humanitarian and civic assistance costs under chapter 20 of title 10, United States Code: Provided, That such funds may also be obligated for humanitarian and civic assistance costs incidental to authorized operations and pursuant to authority granted in section 401 of title 10, United States Code, and these obligations shall be reported as required by section 401(d) of title 10, United States Code: Provided further, That funds available for operation and maintenance shall be available for providing humanitarian and similar assistance by using Civic Action Teams in the Trust Territories of the Pacific Islands and freely associated states of Micronesia, pursuant to the Compact of Free Association as authorized by Public Law 99-239: Provided further, That upon a determination by the Secretary of the Army that such action is beneficial for graduate medical education programs conducted at Army medical facilities located in Hawaii, the Secretary of the Army may authorize the provision of medical services at such facilities and transportation to such facilities, on a nonreimbursable basis, for civilian patients from American Samoa, the Commonwealth of the Northern Mariana Islands, the Marshall Islands, the Federated States of Micronesia, Palau, and Guam. Sec. 8012. (a) Not later than 180 days after the date of the enactment of this Act, the Secretary of Defense shall submit to the Committees on Appropriations of the House of Representatives and the Senate a report on excessive contractor payments that exceed the thresholds established in 10 U.S.C. chapter 271 ``Truthful Cost or Pricing Data (Truth in Negotiations)'' or 41 U.S.C. chapter 35 ``Truthful Cost or Pricing Data'' and with respect to which none of the exceptions to certified cost or pricing data requirements apply. (b) The report required by subsection (a) shall also include the following: (1) The amounts collected, adjusted, or offset from contractors as a result of providing defective cost and pricing data; (2) The mechanisms used to identify violations of 10 U.S.C. chapter 271 or 41 U.S.C. chapter 35; (3) Disciplinary actions taken by the Department of Defense when violations of 10 U.S.C. chapter 271 or 41 U.S.C. chapter 35 are identified, regardless of whether they are included in the System for Award Management; and (4) Any referrals made to the Department of Justice. Sec. 8013. None of the funds appropriated or otherwise made available by this Act shall be used in any way, directly or indirectly, to influence congressional action on any legislation or appropriation matters pending before the Congress. Sec. 8014. None of the funds available in this Act to the Department of Defense, other than appropriations made for necessary or routine refurbishments, upgrades, or maintenance activities, shall be used to reduce or to prepare to reduce the number of deployed and non- deployed strategic delivery vehicles and launchers below the levels set forth in the report submitted to Congress in accordance with section 1042 of the National Defense Authorization Act for Fiscal Year 2012. (transfer of funds) Sec. 8015. (a) Funds appropriated in title III of this Act for the Department of Defense Pilot Mentor-Protege Program may be transferred to any other appropriation contained in this Act solely for the purpose of implementing a Mentor-Protege Program developmental assistance agreement pursuant to section 4902 of title 10, United States Code, under the authority of this provision or any other transfer authority contained in this Act. (b) The Secretary of Defense shall include with the budget justification documents in support of the budget for fiscal year 2026 (as submitted to Congress pursuant to section 1105 of title 31, United States Code) a description of each transfer under this section that occurred during the last fiscal year before the fiscal year in which such budget is submitted. Sec. 8016. None of the funds appropriated or otherwise made available by this Act may be available for the purchase by the Department of Defense (and its departments and agencies) of welded shipboard anchor and mooring chain unless the anchor and mooring chain are manufactured in the United States from components which are substantially manufactured in the United States: Provided, That for the purpose of this section, the term ``manufactured'' shall include cutting, heat treating, quality control, and testing of chain and welding (including the forging and shot blasting process): Provided further, That for the purpose of this section substantially all of the components of anchor and mooring chain shall be considered to be produced or manufactured in the United States if the aggregate cost of the components produced or manufactured in the United States exceeds the aggregate cost of the components produced or manufactured outside the United States: Provided further, That when adequate domestic supplies are not available to meet Department of Defense requirements on a timely basis, the Secretary of the Service responsible for the procurement may waive this restriction on a case-by-case basis by certifying in writing to the Committees on Appropriations of the House of Representatives and the Senate that such an acquisition must be made in order to acquire capability for national security purposes. Sec. 8017. None of the funds appropriated or otherwise made available by this Act shall be used for the support of any nonappropriated funds activity of the Department of Defense that procures malt beverages and wine with nonappropriated funds for resale (including such alcoholic beverages sold by the drink) on a military installation located in the United States unless such malt beverages and wine are procured within that State, or in the case of the District of Columbia, within the District of Columbia, in which the military installation is located: Provided, That, in a case in which the military installation is located in more than one State, purchases may be made in any State in which the installation is located: Provided further, That such local procurement requirements for malt beverages and wine shall apply to all alcoholic beverages only for military installations in States which are not contiguous with another State: Provided further, That alcoholic beverages other than wine and malt beverages, in contiguous States and the District of Columbia shall be procured from the most competitive source, price and other factors considered. Sec. 8018. None of the funds available to the Department of Defense may be used to demilitarize or dispose of M-1 Carbines, M-1 Garand rifles, M-14 rifles, .22 caliber rifles, .30 caliber rifles, or M-1911 pistols, or to demilitarize or destroy small arms ammunition or ammunition components that are not otherwise prohibited from commercial sale under Federal law, unless the small arms ammunition or ammunition components are certified by the Secretary of the Army or designee as unserviceable or unsafe for further use. Sec. 8019. No more than $500,000 of the funds appropriated or made available in this Act shall be used during a single fiscal year for any single relocation of an organization, unit, activity or function of the Department of Defense into or within the National Capital Region: Provided, That the Secretary of Defense may waive this restriction on a case-by-case basis by certifying in writing to the congressional defense committees that such a relocation is required in the best interest of the Government. Sec. 8020. Of the funds made available in this Act under the heading ``Procurement, Defense-Wide'', $25,169,000 shall be available only for incentive payments authorized by section 504 of the Indian Financing Act of 1974 (25 U.S.C. 1544): Provided, That a prime contractor or a subcontractor at any tier that makes a subcontract award to any subcontractor or supplier as defined in section 1544 of title 25, United States Code, or a small business owned and controlled by an individual or individuals defined under section 4221(9) of title 25, United States Code, shall be considered a contractor for the purposes of being allowed additional compensation under section 504 of the Indian Financing Act of 1974 (25 U.S.C. 1544) whenever the prime contract or subcontract amount is over $500,000 and involves the expenditure of funds appropriated by an Act making appropriations for the Department of Defense with respect to any fiscal year: Provided further, That notwithstanding section 1906 of title 41, United States Code, this section shall be applicable to any Department of Defense acquisition of supplies or services, including any contract and any subcontract at any tier for acquisition of commercial items produced or manufactured, in whole or in part, by any subcontractor or supplier defined in section 1544 of title 25, United States Code, or a small business owned and controlled by an individual or individuals defined under section 4221(9) of title 25, United States Code. Sec. 8021. (a) Notwithstanding any other provision of law, the Secretary of the Air Force may convey at no cost to the Air Force, without consideration, to Indian tribes located in the States of Nevada, Idaho, North Dakota, South Dakota, Montana, Oregon, Minnesota, and Washington relocatable military housing units located at Grand Forks Air Force Base, Malmstrom Air Force Base, Mountain Home Air Force Base, Ellsworth Air Force Base, and Minot Air Force Base that are excess to the needs of the Air Force. (b) The Secretary of the Air Force shall convey, at no cost to the Air Force, military housing units under subsection (a) in accordance with the request for such units that are submitted to the Secretary by the Operation Walking Shield Program on behalf of Indian tribes located in the States of Nevada, Idaho, North Dakota, South Dakota, Montana, Oregon, Minnesota, and Washington. Any such conveyance shall be subject to the condition that the housing units shall be removed within a reasonable period of time, as determined by the Secretary. (c) The Operation Walking Shield Program shall resolve any conflicts among requests of Indian tribes for housing units under subsection (a) before submitting requests to the Secretary of the Air Force under subsection (b). (d) In this section, the term ``Indian tribe'' means any recognized Indian tribe included on the current list published by the Secretary of the Interior under section 104 of the Federally Recognized Indian Tribe Act of 1994 (Public Law 103-454; 108 Stat. 4792; 25 U.S.C. 5131). Sec. 8022. Of the funds appropriated to the Department of Defense under the heading ``Operation and Maintenance, Defense-Wide'', not less than $19,861,000 may be made available only for the mitigation of environmental impacts, including training and technical assistance to tribes, related administrative support, the gathering of information, documenting of environmental damage, and developing a system for prioritization of mitigation and cost to complete estimates for mitigation, on Indian lands resulting from Department of Defense activities. Sec. 8023. Funds appropriated by this Act for the Defense Media Activity may not be used for any national or international political or psychological activities. Sec. 8024. (a) Of the funds made available in this Act, not less than $73,500,000 shall be available for the Civil Air Patrol Corporation, of which-- (1) $56,500,000 shall be available from ``Operation and Maintenance, Air Force'' to support Civil Air Patrol Corporation operation and maintenance, readiness, counter-drug activities, and drug demand reduction activities involving youth programs; (2) $15,000,000 shall be available from ``Aircraft Procurement, Air Force''; and (3) $2,000,000 shall be available from ``Other Procurement, Air Force'' for vehicle procurement. (b) The Secretary of the Air Force should waive reimbursement for any funds used by the Civil Air Patrol for counter-drug activities in support of Federal, State, and local government agencies. Sec. 8025. (a) None of the funds appropriated or otherwise made available by this Act may be used to establish a new Department of Defense (department) federally funded research and development center (FFRDC), either as a new entity, or as a separate entity administrated by an organization managing another FFRDC, or as a nonprofit membership corporation consisting of a consortium of other FFRDCs and other nonprofit entities. (b) Except when acting in a technical advisory capacity, no member of a Board of Directors, Trustees, Overseers, Advisory Group, Special Issues Panel, Visiting Committee, or any similar entity of a defense FFRDC, or any entity that contracts with the Federal government to manage or operate one or more FFRDCs, or any paid consultant to a defense FFRDC shall receive funds appropriated by this Act as compensation for services as a member of such entity: Provided, That a member of any such entity shall be allowed travel expenses and per diem as authorized under the Federal Joint Travel Regulations, when engaged in the performance of membership duties: Provided further, That except when acting in a technical advisory capacity, no paid consultant shall receive funds appropriated by this Act as compensation by more than one FFRDC in a calendar year. (c) Notwithstanding any other provision of law, none of the funds available to the department from any source during the current fiscal year may be used by a defense FFRDC, through a fee or other payment mechanism, for construction of new buildings not located on a military installation, for payment of cost sharing for projects funded by Government grants, for absorption of contract overruns, or for certain charitable contributions, not to include employee participation in community service and/or development. (d) Notwithstanding any other provision of law, of the funds available to the department during fiscal year 2025, not more than $2,886,300,000 may be funded for professional technical staff-related costs of the defense FFRDCs: Provided, That within such funds, not more than $461,300,000 shall be available for the defense studies and analysis FFRDCs: Provided further, That this subsection shall not apply to staff years funded in the National Intelligence Program and the Military Intelligence Program: Provided further, That the Secretary of Defense shall, with the submission of the department's fiscal year 2026 budget request, submit a report presenting the specific amounts of staff years of technical effort to be allocated for each defense FFRDC by program during that fiscal year and the associated budget estimates, by appropriation account and program. Sec. 8026. For the purposes of this Act, the term ``congressional defense committees'' means the Armed Services Committee of the House of Representatives, the Armed Services Committee of the Senate, the Subcommittee on Defense of the Committee on Appropriations of the House of Representatives, and the Subcommittee on Defense of the Committee on Appropriations of the Senate. Sec. 8027. For the purposes of this Act, the term ``congressional intelligence committees'' means the Permanent Select Committee on Intelligence of the House of Representatives, the Select Committee on Intelligence of the Senate, the Subcommittee on Defense of the Committee on Appropriations of the House of Representatives, and the Subcommittee on Defense of the Committee on Appropriations of the Senate. Sec. 8028. During the current fiscal year, the Department of Defense may acquire the modification, depot maintenance and repair of aircraft, vehicles and vessels as well as the production of components and other Defense-related articles, through competition between Department of Defense depot maintenance activities and private firms: Provided, That the Senior Acquisition Executive of the military department or Defense Agency concerned, with power of delegation, shall certify that successful bids include comparable estimates of all direct and indirect costs for both public and private bids: Provided further, That Office of Management and Budget Circular A-76 shall not apply to competitions conducted under this section. Sec. 8029. (a) None of the funds appropriated in this Act may be expended by an entity of the Department of Defense unless the entity, in expending the funds, complies with the Buy American Act. For purposes of this subsection, the term ``Buy American Act'' means chapter 83 of title 41, United States Code. (b) If the Secretary of Defense determines that a person has been convicted of intentionally affixing a label bearing a ``Made in America'' inscription to any product sold in or shipped to the United States that is not made in America, the Secretary shall determine, in accordance with section 4658 of title 10, United States Code, whether the person should be debarred from contracting with the Department of Defense. (c) In the case of any equipment or products purchased with appropriations provided under this Act, it is the sense of the Congress that any entity of the Department of Defense, in expending the appropriation, purchase only American-made equipment and products, provided that American-made equipment and products are cost- competitive, quality competitive, and available in a timely fashion. Sec. 8030. None of the funds appropriated or made available in this Act shall be used to procure carbon, alloy, or armor steel plate for use in any Government-owned facility or property under the control of the Department of Defense which were not melted and rolled in the United States or Canada: Provided, That these procurement restrictions shall apply to any and all Federal Supply Class 9515, American Society of Testing and Materials (ASTM) or American Iron and Steel Institute (AISI) specifications of carbon, alloy or armor steel plate: Provided further, That the Secretary of the military department responsible for the procurement may waive this restriction on a case-by-case basis by certifying in writing to the Committees on Appropriations of the House of Representatives and the Senate that adequate domestic supplies are not available to meet Department of Defense requirements on a timely basis and that such an acquisition must be made in order to acquire capability for national security purposes: Provided further, That these restrictions shall not apply to contracts which are in being as of the date of the enactment of this Act. Sec. 8031. (a)(1) If the Secretary of Defense, after consultation with the United States Trade Representative, determines that a foreign country which is party to an agreement described in paragraph (2) has violated the terms of the agreement by discriminating against certain types of products produced in the United States that are covered by the agreement, the Secretary of Defense shall rescind the Secretary's blanket waiver of the Buy American Act with respect to such types of products produced in that foreign country. (2) An agreement referred to in paragraph (1) is any reciprocal defense procurement memorandum of understanding, between the United States and a foreign country pursuant to which the Secretary of Defense has prospectively waived the Buy American Act for certain products in that country. (b) The Secretary of Defense shall submit to the Congress a report on the amount of Department of Defense purchases from foreign entities in fiscal year 2025. Such report shall separately indicate the dollar value of items for which the Buy American Act was waived pursuant to any agreement described in subsection (a)(2), the Trade Agreements Act of 1979 (19 U.S.C. 2501 et seq.), or any international agreement to which the United States is a party. (c) For purposes of this section, the term ``Buy American Act'' means chapter 83 of title 41, United States Code. Sec. 8032. None of the funds appropriated by this Act may be used for the procurement of ball and roller bearings other than those produced by a domestic source and of domestic origin: Provided, That the Secretary of the military department responsible for such procurement may waive this restriction on a case-by-case basis by certifying in writing to the Committees on Appropriations of the House of Representatives and the Senate, that adequate domestic supplies are not available to meet Department of Defense requirements on a timely basis and that such an acquisition must be made in order to acquire capability for national security purposes: Provided further, That this restriction shall not apply to the purchase of ``commercial products'', as defined by section 103 of title 41, United States Code, except that the restriction shall apply to ball or roller bearings purchased as end items. Sec. 8033. None of the funds in this Act may be used to purchase any supercomputer which is not manufactured in the United States, unless the Secretary of Defense certifies to the congressional defense committees that such an acquisition must be made in order to acquire capability for national security purposes that is not available from United States manufacturers. Sec. 8034. (a) The Secretary of Defense may, on a case-by-case basis, waive with respect to a foreign country each limitation on the procurement of defense items from foreign sources provided in law if the Secretary determines that the application of the limitation with respect to that country would invalidate cooperative programs entered into between the Department of Defense and the foreign country, or would invalidate reciprocal trade agreements for the procurement of defense items entered into under section 4851 of title 10, United States Code, and the country does not discriminate against the same or similar defense items produced in the United States for that country. (b) Subsection (a) applies with respect to-- (1) contracts and subcontracts entered into on or after the date of the enactment of this Act; and (2) options for the procurement of items that are exercised after such date under contracts that are entered into before such date if the option prices are adjusted for any reason other than the application of a waiver granted under subsection (a). (c) Subsection (a) does not apply to a limitation regarding construction of public vessels, ball and roller bearings, food, and clothing or textile materials as defined by section XI (chapters 50-65) of the Harmonized Tariff Schedule of the United States and products classified under headings 4010, 4202, 4203, 6401 through 6406, 6505, 7019, 7218 through 7229, 7304.41 through 7304.49, 7306.40, 7502 through 7508, 8105, 8108, 8109, 8211, 8215, and 9404. Sec. 8035. None of the funds appropriated or otherwise made available by this Act may be used for the purchase or manufacture of a flag of the United States unless such flags are treated as covered items under section 4862(b) of title 10, United States Code. Sec. 8036. During the current fiscal year, amounts contained in the Department of Defense Overseas Military Facility Investment Recovery Account shall be available until expended for the payments specified by section 2687a(b)(2) of title 10, United States Code. Sec. 8037. During the current fiscal year, appropriations which are available to the Department of Defense for operation and maintenance may be used to purchase items having an investment item unit cost of not more than $350,000: Provided, That upon determination by the Secretary of Defense that such action is necessary to meet the operational requirements of a Commander of a Combatant Command engaged in a named contingency operation overseas, such funds may be used to purchase items having an investment item unit cost of not more than $500,000. Sec. 8038. Up to $8,132,000 of the funds appropriated under the heading ``Operation and Maintenance, Navy'' may be made available for the Asia Pacific Regional Initiative Program for the purpose of enabling the United States Indo-Pacific Command to execute Theater Security Cooperation activities such as humanitarian assistance, and payment of incremental and personnel costs of training and exercising with foreign security forces: Provided, That funds made available for this purpose may be used, notwithstanding any other funding authorities for humanitarian assistance, security assistance or combined exercise expenses: Provided further, That funds may not be obligated to provide assistance to any foreign country that is otherwise prohibited from receiving such type of assistance under any other provision of law. Sec. 8039. The Secretary of Defense shall issue regulations to prohibit the sale of any tobacco or tobacco-related products in military resale outlets in the United States, its territories and possessions at a price below the most competitive price in the local community: Provided, That such regulations shall direct that the prices of tobacco or tobacco-related products in overseas military retail outlets shall be within the range of prices established for military retail system stores located in the United States. Sec. 8040. (a) During the current fiscal year, none of the appropriations or funds available to the Department of Defense Working Capital Funds shall be used for the purchase of an investment item for the purpose of acquiring a new inventory item for sale or anticipated sale during the current fiscal year or a subsequent fiscal year to customers of the Department of Defense Working Capital Funds if such an item would not have been chargeable to the Department of Defense Business Operations Fund during fiscal year 1994 and if the purchase of such an investment item would be chargeable during the current fiscal year to appropriations made to the Department of Defense for procurement. (b) The fiscal year 2026 budget request for the Department of Defense as well as all justification material and other documentation supporting the fiscal year 2026 Department of Defense budget shall be prepared and submitted to the Congress on the basis that any equipment which was classified as an end item and funded in a procurement appropriation contained in this Act shall be budgeted for in a proposed fiscal year 2026 procurement appropriation and not in the supply management business area or any other area or category of the Department of Defense Working Capital Funds. Sec. 8041. None of the funds appropriated by this Act for programs of the Central Intelligence Agency shall remain available for obligation beyond the current fiscal year, except for funds appropriated for the Reserve for Contingencies, which shall remain available until September 30, 2026: Provided, That funds appropriated, transferred, or otherwise credited to the Central Intelligence Agency Central Services Working Capital Fund during this or any prior fiscal year shall remain available until expended: Provided further, That any funds appropriated or transferred to the Central Intelligence Agency for advanced research and development acquisition, for agent operations, and for covert action programs authorized by the President under section 503 of the National Security Act of 1947 (50 U.S.C. 3093) shall remain available until September 30, 2026: Provided further, That any funds appropriated or transferred to the Central Intelligence Agency for the construction, improvement, or alteration of facilities, including leased facilities, to be used primarily by personnel of the intelligence community, shall remain available until September 30, 2027. Sec. 8042. (a) Except as provided in subsections (b) and (c), none of the funds made available by this Act may be used-- (1) to establish a field operating agency; or (2) to pay the basic pay of a member of the Armed Forces or civilian employee of the Department of Defense who is transferred or reassigned from a headquarters activity if the member or employee's place of duty remains at the location of that headquarters. (b) The Secretary of Defense or Secretary of a military department may waive the limitations in subsection (a), on a case-by-case basis, if the Secretary determines, and certifies to the Committees on Appropriations of the House of Representatives and the Senate that the granting of the waiver will reduce the personnel requirements or the financial requirements of the department. (c) This section does not apply to-- (1) field operating agencies funded within the National Intelligence Program; (2) an Army field operating agency established to eliminate, mitigate, or counter the effects of improvised explosive devices, and, as determined by the Secretary of the Army, other similar threats; (3) an Army field operating agency established to improve the effectiveness and efficiencies of biometric activities and to integrate common biometric technologies throughout the Department of Defense; or (4) an Air Force field operating agency established to administer the Air Force Mortuary Affairs Program and Mortuary Operations for the Department of Defense and authorized Federal entities. Sec. 8043. (a) None of the funds appropriated or otherwise made available by this Act shall be available to convert to contractor performance an activity or function of the Department of Defense that, on or after the date of the enactment of this Act, is performed by Department of Defense civilian employees unless-- (1) the conversion is based on the result of a public- private competition that includes a most efficient and cost effective organization plan developed by such activity or function; (2) the Competitive Sourcing Official determines that, over all performance periods stated in the solicitation of offers for performance of the activity or function, the cost of performance of the activity or function by a contractor would be less costly to the Department of Defense by an amount that equals or exceeds the lesser of-- (A) 10 percent of the most efficient organization's personnel-related costs for performance of that activity or function by Federal employees; or (B) $10,000,000; and (3) the contractor does not receive an advantage for a proposal that would reduce costs for the Department of Defense by-- (A) not making an employer-sponsored health insurance plan available to the workers who are to be employed in the performance of that activity or function under the contract; or (B) offering to such workers an employer-sponsored health benefits plan that requires the employer to contribute less towards the premium or subscription share than the amount that is paid by the Department of Defense for health benefits for civilian employees under chapter 89 of title 5, United States Code. (b)(1) The Department of Defense, without regard to subsection (a) of this section or subsection (a), (b), or (c) of section 2461 of title 10, United States Code, and notwithstanding any administrative regulation, requirement, or policy to the contrary shall have full authority to enter into a contract for the performance of any commercial or industrial type function of the Department of Defense that-- (A) is included on the procurement list established pursuant to section 2 of the Javits-Wagner-O'Day Act (section 8503 of title 41, United States Code); (B) is planned to be converted to performance by a qualified nonprofit agency for the blind or by a qualified nonprofit agency for other severely handicapped individuals in accordance with that Act; or (C) is planned to be converted to performance by a qualified firm under at least 51 percent ownership by an Indian tribe, as defined in section 4(e) of the Indian Self- Determination and Education Assistance Act (25 U.S.C. 450b(e)), or a Native Hawaiian Organization, as defined in section 8(a)(15) of the Small Business Act (15 U.S.C. 637(a)(15)). (2) This section shall not apply to depot contracts or contracts for depot maintenance as provided in sections 2469 and 2474 of title 10, United States Code. (c) The conversion of any activity or function of the Department of Defense under the authority provided by this section shall be credited toward any competitive or outsourcing goal, target, or measurement that may be established by statute, regulation, or policy and is deemed to be awarded under the authority of, and in compliance with, subsection (h) of section 2304 of title 10, United States Code, for the competition or outsourcing of commercial activities. (rescissions) Sec. 8044. Of the funds appropriated in Department of Defense Appropriations Acts, the following funds are hereby rescinded from the following accounts and programs in the specified amounts: Provided, That no amounts may be rescinded from amounts that were designated by the Congress as an emergency requirement pursuant to a concurrent resolution on the budget or the Balanced Budget and Emergency Deficit Control Act of 1985: ``Aircraft Procurement, Navy'', 2023/2025, $49,963,000; ``Aircraft Procurement, Air Force'', 2023/2025, $201,420,000; ``Operation and Maintenance, Defense-Wide'', 2024/2025, $50,000,000; ``Counter-ISIS Train and Equip Fund'', 2024/2025, $50,000,000; ``Cooperative Threat Reduction Account'', 2024/2026, $91,000,000; ``Aircraft Procurement, Navy'', 2024/2026, $17,468,000; ``Other Procurement, Navy'', 2024/2026, $22,872,000 ``Procurement, Marine Corps'', 2024/2026, $71,257,000; ``Aircraft Procurement, Air Force'', 2024/2026, $90,000,000; ``Other Procurement, Air Force'', 2024/2026, $532,994,000; ``Procurement, Defense-Wide'', 2024/2026, $6,077,000; and ``Research, Development, Test and Evaluation, Navy'', 2024/ 2025, $25,000,000. Sec. 8045. None of the funds available in this Act may be used to reduce the authorized positions for military technicians (dual status) of the Army National Guard, Air National Guard, Army Reserve and Air Force Reserve for the purpose of applying any administratively imposed civilian personnel ceiling, freeze, or reduction on military technicians (dual status), unless such reductions are a direct result of a reduction in military force structure. Sec. 8046. None of the funds appropriated or otherwise made available in this Act may be obligated or expended for assistance to the Democratic People's Republic of Korea unless specifically appropriated for that purpose: Provided, That this restriction shall not apply to any activities incidental to the Defense POW/MIA Accounting Agency mission to recover and identify the remains of United States Armed Forces personnel from the Democratic People's Republic of Korea. Sec. 8047. In this fiscal year and each fiscal year thereafter, funds appropriated for operation and maintenance of the Military Departments, Combatant Commands and Defense Agencies shall be available for reimbursement of pay, allowances and other expenses which would otherwise be incurred against appropriations for the National Guard and Reserve when members of the National Guard and Reserve provide intelligence or counterintelligence support to Combatant Commands, Defense Agencies and Joint Intelligence Activities, including the activities and programs included within the National Intelligence Program and the Military Intelligence Program: Provided, That nothing in this section authorizes deviation from established Reserve and National Guard personnel and training procedures. Sec. 8048. (a) None of the funds available to the Department of Defense for any fiscal year for drug interdiction or counter-drug activities may be transferred to any other department or agency of the United States except as specifically provided in an appropriations law. (b) None of the funds available to the Central Intelligence Agency for any fiscal year for drug interdiction or counter-drug activities may be transferred to any other department or agency of the United States except as specifically provided in an appropriations law. Sec. 8049. In addition to the amounts appropriated or otherwise made available elsewhere in this Act, $49,000,000 is hereby appropriated to the Department of Defense: Provided, That upon the determination of the Secretary of Defense that it shall serve the national interest, the Secretary shall make grants in the amounts specified as follows: $24,000,000 to the United Service Organizations and $25,000,000 to the Red Cross. Sec. 8050. Notwithstanding any other provision in this Act, the Small Business Innovation Research program and the Small Business Technology Transfer program set-asides shall be taken proportionally from all programs, projects, or activities to the extent they contribute to the extramural budget. The Secretary of each military department, the Director of each Defense Agency, and the head of each other relevant component of the Department of Defense shall submit to the congressional defense committees, concurrent with submission of the budget justification documents to Congress pursuant to section 1105 of title 31, United States Code, a report with a detailed accounting of the Small Business Innovation Research program and the Small Business Technology Transfer program set-asides taken from programs, projects, or activities within such department, agency, or component during the most recently completed fiscal year. Sec. 8051. None of the funds available to the Department of Defense under this Act may be obligated or expended to pay a contractor under a contract with the Department of Defense for costs of any amount paid by the contractor to an employee when-- (1) such costs are for a bonus or otherwise in excess of the normal salary paid by the contractor to the employee; and (2) such bonus is part of restructuring costs associated with a business combination. (including transfer of funds) Sec. 8052. During the current fiscal year, no more than $30,000,000 of appropriations made in this Act under the heading ``Operation and Maintenance, Defense-Wide'' may be transferred to appropriations available for the pay of military personnel, to be merged with, and to be available for the same time period as the appropriations to which transferred, to be used in support of such personnel in connection with support and services for eligible organizations and activities outside the Department of Defense pursuant to section 2012 of title 10, United States Code. Sec. 8053. (a) Notwithstanding any other provision of law, the Chief of the National Guard Bureau may permit the use of equipment of the National Guard Distance Learning Project by any person or entity on a space-available, reimbursable basis. The Chief of the National Guard Bureau shall establish the amount of reimbursement for such use on a case-by-case basis. (b) Amounts collected under subsection (a) shall be credited to funds available for the National Guard Distance Learning Project and be available to defray the costs associated with the use of equipment of the project under that subsection. Such funds shall be available for such purposes without fiscal year limitation. Sec. 8054. (a) None of the funds appropriated or otherwise made available by this or prior Acts may be obligated or expended to retire, prepare to retire, or place in storage or on backup aircraft inventory status any C-40 aircraft. (b) The limitation under subsection (a) shall not apply to an individual C-40 aircraft that the Secretary of the Air Force determines, on a case-by-case basis, to be no longer mission capable due to a Class A mishap. (c) If the Secretary determines under subsection (b) that an aircraft is no longer mission capable, the Secretary shall submit to the congressional defense committees a certification in writing that the status of such aircraft is due to a Class A mishap and not due to lack of maintenance, repairs, or other reasons. (d) Not later than 90 days after the date of the enactment of this Act, the Secretary of Defense shall submit to the congressional defense committees a report on the necessary steps taken by the Department of Defense to meet the travel requirements for official or representational duties of members of Congress and the Cabinet in fiscal years 2025 and 2026. Sec. 8055. (a) None of the funds appropriated in title IV of this Act may be used to procure end-items for delivery to military forces for operational training, operational use, or inventory requirements: Provided, That this restriction does not apply to end-items used in development, prototyping in accordance with an approved test strategy, and test activities preceding and leading to acceptance for operational use. (b) If the number of end-items budgeted with funds appropriated in title IV of this Act exceeds the number required in an approved test strategy, the Under Secretary of Defense (Research and Engineering) and the Under Secretary of Defense (Acquisition and Sustainment), in coordination with the responsible Service Acquisition Executive, shall certify in writing to the congressional defense committees that there is a bonafide need for the additional end-items at the time of submittal to Congress of the budget of the President for fiscal year 2026 pursuant to section 1105 of title 31, United States Code: Provided, That this restriction does not apply to programs funded within the National Intelligence Program. (c) The Secretary of Defense shall, at the time of the submittal to Congress of the budget of the President for fiscal year 2026 pursuant to section 1105 of title 31, United States Code, submit to the congressional defense committees a report detailing the use of funds requested in research, development, test and evaluation accounts for end-items used in development, prototyping and test activities preceding and leading to acceptance for operational use: Provided, That the report shall set forth, for each end item covered by the preceding proviso, a detailed list of the statutory authorities under which amounts in the accounts described in that proviso were used for such item: Provided further, That the Secretary of Defense shall, at the time of the submittal to Congress of the budget of the President for fiscal year 2026 pursuant to section 1105 of title 31, United States Code, submit to the congressional defense committees a certification that funds requested for fiscal year 2026 in research, development, test and evaluation accounts are in compliance with this section: Provided further, That the Secretary of Defense may waive this restriction on a case-by-case basis by certifying in writing to the Subcommittees on Defense of the Committees on Appropriations of the House of Representatives and the Senate that it is in the national security interest to do so. Sec. 8056. None of the funds appropriated or otherwise made available by this or other Department of Defense Appropriations Acts may be obligated or expended for the purpose of performing repairs or maintenance to military family housing units of the Department of Defense, including areas in such military family housing units that may be used for the purpose of conducting official Department of Defense business. Sec. 8057. Notwithstanding any other provision of law, funds appropriated in this Act under the heading ``Research, Development, Test and Evaluation, Defense-Wide'' for any new start defense innovation acceleration or rapid prototyping program demonstration project with a value of more than $5,000,000 may only be obligated 15 days after a report, including a description of the project, the planned acquisition and transition strategy and its estimated annual and total cost, has been provided in writing to the congressional defense committees: Provided, That the Secretary of Defense may waive this restriction on a case-by-case basis by certifying to the congressional defense committees that it is in the national interest to do so. Sec. 8058. The Secretary of Defense shall continue to provide a classified quarterly report to the Committees on Appropriations of the House of Representatives and the Senate, Subcommittees on Defense on certain matters as directed in the classified annex accompanying this Act. Sec. 8059. Notwithstanding section 12310(b) of title 10, United States Code, a servicemember who is a member of the National Guard serving on full-time National Guard duty under section 502(f) of title 32, United States Code, may perform duties in support of the ground- based elements of the National Ballistic Missile Defense System. Sec. 8060. None of the funds provided in this Act may be used to transfer to any nongovernmental entity ammunition held by the Department of Defense that has a center-fire cartridge and a United States military nomenclature designation of ``armor penetrator'', ``armor piercing (AP)'', ``armor piercing incendiary (API)'', or ``armor-piercing incendiary tracer (API-T)'', except to an entity performing demilitarization services for the Department of Defense under a contract that requires the entity to demonstrate to the satisfaction of the Department of Defense that armor piercing projectiles are either: (1) rendered incapable of reuse by the demilitarization process; or (2) used to manufacture ammunition pursuant to a contract with the Department of Defense or the manufacture of ammunition for export pursuant to a License for Permanent Export of Unclassified Military Articles issued by the Department of State. Sec. 8061. Notwithstanding any other provision of law, the Chief of the National Guard Bureau, or their designee, may waive payment of all or part of the consideration that otherwise would be required under section 2667 of title 10, United States Code, in the case of a lease of personal property for a period not in excess of 1 year to any organization specified in section 508(d) of title 32, United States Code, or any other youth, social, or fraternal nonprofit organization as may be approved by the Chief of the National Guard Bureau, or their designee, on a case-by-case basis. (including transfer of funds) Sec. 8062. Of the amounts appropriated in this Act under the heading ``Operation and Maintenance, Army'', $194,452,598 shall remain available until expended: Provided, That, notwithstanding any other provision of law, the Secretary of Defense is authorized to transfer such funds to other activities of the Federal Government: Provided further, That the Secretary of Defense is authorized to enter into and carry out contracts for the acquisition of real property, construction, personal services, and operations related to projects carrying out the purposes of this section: Provided further, That contracts entered into under the authority of this section may provide for such indemnification as the Secretary determines to be necessary: Provided further, That projects authorized by this section shall comply with applicable Federal, State, and local law to the maximum extent consistent with the national security, as determined by the Secretary of Defense. Sec. 8063. (a) None of the funds appropriated in this or any other Act may be used to take any action to modify-- (1) the appropriations account structure for the National Intelligence Program budget, including through the creation of a new appropriation or new appropriation account; (2) how the National Intelligence Program budget request is presented in the unclassified P-1, R-1, and O-1 documents supporting the Department of Defense budget request; (3) the process by which the National Intelligence Program appropriations are apportioned to the executing agencies; or (4) the process by which the National Intelligence Program appropriations are allotted, obligated and disbursed. (b) Nothing in subsection (a) shall be construed to prohibit the merger of programs or changes to the National Intelligence Program budget at or below the Expenditure Center level, provided such change is otherwise in accordance with paragraphs (1)-(3) of subsection (a). (c) The Director of National Intelligence and the Secretary of Defense may jointly, only for the purposes of achieving auditable financial statements and improving fiscal reporting, study and develop detailed proposals for alternative financial management processes. Such study shall include a comprehensive counterintelligence risk assessment to ensure that none of the alternative processes will adversely affect counterintelligence. (d) Upon development of the detailed proposals defined under subsection (c), the Director of National Intelligence and the Secretary of Defense shall-- (1) provide the proposed alternatives to all affected agencies; (2) receive certification from all affected agencies attesting that the proposed alternatives will help achieve auditability, improve fiscal reporting, and will not adversely affect counterintelligence; and (3) not later than 30 days after receiving all necessary certifications under paragraph (2), present the proposed alternatives and certifications to the congressional defense and intelligence committees. (including transfer of funds) Sec. 8064. During the current fiscal year, not to exceed $11,000,000 from each of the appropriations made in title II of this Act for ``Operation and Maintenance, Army'', ``Operation and Maintenance, Navy'', and ``Operation and Maintenance, Air Force'' may be transferred by the military department concerned to its central fund established for Fisher Houses and Suites pursuant to section 2493(d) of title 10, United States Code. (including transfer of funds) Sec. 8065. In addition to amounts provided elsewhere in this Act, $5,000,000 is hereby appropriated to the Department of Defense, to remain available for obligation until expended: Provided, That notwithstanding any other provision of law, that upon the determination of the Secretary of Defense that it shall serve the national interest, these funds shall be available only for a grant to the Fisher House Foundation, Inc., only for the construction and furnishing of additional Fisher Houses to meet the needs of military family members when confronted with the illness or hospitalization of an eligible military beneficiary. (including transfer of funds) Sec. 8066. Of the amounts appropriated for ``Operation and Maintenance, Navy'', up to $1,000,000 shall be available for transfer to the John C. Stennis Center for Public Service Development Trust Fund established under section 116 of the John C. Stennis Center for Public Service Training and Development Act (2 U.S.C. 1105). Sec. 8067. None of the funds available to the Department of Defense may be obligated to modify command and control relationships to give Fleet Forces Command operational and administrative control of United States Navy forces assigned to the Pacific fleet: Provided, That the command and control relationships which existed on October 1, 2004, shall remain in force until a written modification has been proposed to the Committees on Appropriations of the House of Representatives and the Senate: Provided further, That the proposed modification may be implemented 30 days after the notification unless an objection is received from either the House or Senate Appropriations Committees: Provided further, That any proposed modification shall not preclude the ability of the commander of United States Indo-Pacific Command to meet operational requirements. Sec. 8068. Any notice that is required to be submitted to the Committees on Appropriations of the House of Representatives and the Senate under section 3601 of title 10, United States Code, as added by section 804(a) of the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 shall be submitted pursuant to that requirement concurrently to the Subcommittees on Defense of the Committees on Appropriations of the House of Representatives and the Senate. Sec. 8069. Of the amounts appropriated in this Act under the headings ``Procurement, Defense-Wide'' and ``Research, Development, Test and Evaluation, Defense-Wide'', $500,000,000 shall be for the Israeli Cooperative Programs: Provided, That of this amount, $110,000,000 shall be for the Secretary of Defense to provide to the Government of Israel for the procurement of the Iron Dome defense system to counter short-range rocket threats, subject to the U.S.- Israel Iron Dome Procurement Agreement, as amended; $127,000,000 shall be for the Short Range Ballistic Missile Defense (SRBMD) program, including cruise missile defense research and development under the SRBMD program; $40,000,000 shall be for co-production activities of SRBMD systems in the United States and in Israel to meet Israel's defense requirements consistent with each nation's laws, regulations, and procedures, subject to the U.S.-Israeli co-production agreement for SRBMD, as amended; $50,000,000 shall be for an upper-tier component to the Israeli Missile Defense Architecture, of which $50,000,000 shall be for co-production activities of Arrow 3 Upper Tier systems in the United States and in Israel to meet Israel's defense requirements consistent with each nation's laws, regulations, and procedures, subject to the U.S.-Israeli co-production agreement for Arrow 3 Upper Tier, as amended; and $173,000,000 shall be for the Arrow System Improvement Program including development of a long range, ground and airborne, detection suite. Sec. 8070. Of the amounts appropriated in this Act under the heading ``Shipbuilding and Conversion, Navy'', $1,930,024,000 shall be available until September 30, 2025, to fund prior year shipbuilding cost increases for the following programs: (1) Under the heading ``Shipbuilding and Conversion, Navy'', 2013/2025: Carrier Replacement Program, $236,000,000; (2) Under the heading ``Shipbuilding and Conversion, Navy'', 2016/2025 DDG 51 Program, $10,509,000; (3) Under the heading ``Shipbuilding and Conversion, Navy'', 2017/2025 Virginia Class Submarine Program, $219,370,000; (4) Under the heading ``Shipbuilding and Conversion, Navy'', 2017/2025 DDG 51 Program, $115,600,000; (5) Under the heading ``Shipbuilding and Conversion, Navy'', 2017/2025 Littoral Combat Ship Program, $8,100,000; (6) Under the heading ``Shipbuilding and Conversion, Navy'', 2017/2025 LHA Replacement Program, $115,397,000; (7) Under the heading ``Shipbuilding and Conversion, Navy'', 2018/2025 Virginia Class Submarine Program, $73,634,000; (8) Under the heading ``Shipbuilding and Conversion, Navy'', 2018/2025 DDG 51 Program, $107,405,000; (9) Under the heading ``Shipbuilding and Conversion, Navy'', 2018/2025 Littoral Combat Ship Program, $12,000,000; (10) Under the heading ``Shipbuilding and Conversion, Navy'', 2018/2025 LPD17 (Flight II) Amphibious Transport Dock Program, $19,158,000; (11) Under the heading ``Shipbuilding and Conversion, Navy'', 2018/2025 Oceanographic Ships Program, $18,000,000; (12) Under the heading ``Shipbuilding and Conversion, Navy'', 2018/2025 Ship to Shore Connector Program, $14,694,000; (13) Under the heading ``Shipbuilding and Conversion, Navy'', 2019/2025 Littoral Combat Ship Program, $27,900,000; (14) Under the heading ``Shipbuilding and Conversion, Navy'', 2019/2025 T-AO Fleet Oiler Program, $49,995,000; (15) Under the heading ``Shipbuilding and Conversion, Navy'', 2019/2025 Ship to Shore Connector Program, $33,345,000; (16) Under the heading ``Shipbuilding and Conversion, Navy'', 2020/2025 CVN Refueling Overhauls, $669,171,000; (17) Under the heading ``Shipbuilding and Conversion, Navy'', 2020/2025 T-AO Fleet Oiler Program, $151,837,000; (18) Under the heading ``Shipbuilding and Conversion, Navy'', 2020/2025 Towing, Salvage, and Rescue Ship Program, $978,000; (19) Under the heading ``Shipbuilding and Conversion, Navy'', 2021/2025 Towing, Salvage, and Rescue Ship Program, $17,375,000; (20) Under the heading ``Shipbuilding and Conversion, Navy'', 2022/2025 T-AO Fleet Oiler Program, $13,222,000; (21) Under the heading ``Shipbuilding and Conversion, Navy'', 2022/2025 Towing, Salvage, and Rescue Ship Program, $4,234,000; and (22) Under the heading ``Shipbuilding and Conversion, Navy'', 2023/2025 T-AO Fleet Oiler Program, $12,100,000. Sec. 8071. Funds appropriated by this Act for intelligence and intelligence-related activities are deemed to be specifically authorized by the Congress for purposes of section 504(a)(1) of the National Security Act of 1947 (50 U.S.C. 3094(a)(1)) until the enactment of the Intelligence Authorization Act for Fiscal Year 2025. Sec. 8072. None of the funds provided in this Act shall be available for obligation or expenditure through a reprogramming of funds that creates or initiates a new program, project, or activity unless such program, project, or activity must be undertaken immediately in the interest of national security and only after written prior notification to the congressional defense committees. Sec. 8073. None of the funds in this Act may be used for research, development, test, evaluation, procurement or deployment of nuclear armed interceptors of a missile defense system. Sec. 8074. None of the funds appropriated or otherwise made available by this Act may be obligated or expended for the purpose of decommissioning any Littoral Combat Ship or the U.S.S. Lake Erie. Sec. 8075. For purposes of section 1553(b) of title 31, United States Code, any subdivision of appropriations made in this Act under the heading ``Shipbuilding and Conversion, Navy'' shall be considered to be for the same purpose as any subdivision under the heading ``Shipbuilding and Conversion, Navy'' appropriations in any prior fiscal year, and the 1 percent limitation shall apply to the total amount of the appropriation. Sec. 8076. None of the funds appropriated or otherwise made available by this Act shall be used to reduce or disestablish the operation of the 53rd Weather Reconnaissance Squadron of the Air Force Reserve, if such action would reduce the WC-130 Weather Reconnaissance mission below the levels funded in this Act: Provided, That the Air Force shall allow the 53rd Weather Reconnaissance Squadron to perform other missions in support of national defense requirements during the non-hurricane season. Sec. 8077. None of the funds provided in this Act shall be available for integration of foreign intelligence information unless the information has been lawfully collected and processed during the conduct of authorized foreign intelligence activities: Provided, That information pertaining to United States persons shall only be handled in accordance with protections provided in the Fourth Amendment of the United States Constitution as implemented through Executive Order No. 12333. Sec. 8078. None of the funds appropriated by this Act for programs of the Office of the Director of National Intelligence shall remain available for obligation beyond the current fiscal year, except for funds appropriated for research and technology, which shall remain available until September 30, 2026. Sec. 8079. (a) Not later than 60 days after the date of enactment of this Act, the Director of National Intelligence shall submit a report to the congressional intelligence committees to establish the baseline for application of reprogramming and transfer authorities for fiscal year 2025: Provided, That the report shall include-- (1) a table for each appropriation with a separate column to display the President's budget request, adjustments made by Congress, adjustments due to enacted rescissions, if appropriate, and the fiscal year enacted level; (2) a delineation in the table for each appropriation by Expenditure Center and project; and (3) an identification of items of special congressional interest. (b) None of the funds provided for the National Intelligence Program in this Act shall be available for reprogramming or transfer until the report identified in subsection (a) is submitted to the congressional intelligence committees, unless the Director of National Intelligence certifies in writing to the congressional intelligence committees that such reprogramming or transfer is necessary as an emergency requirement. Sec. 8080. Any transfer of amounts appropriated to the Department of Defense Acquisition Workforce Development Account in or for fiscal year 2025 to a military department or Defense Agency pursuant to section 1705(e)(1) of title 10, United States Code, shall be covered by and subject to section 8005 of this Act. Sec. 8081. (a) None of the funds provided for the National Intelligence Program in this or any prior appropriations Act shall be available for obligation or expenditure through a reprogramming or transfer of funds in accordance with section 102A(d) of the National Security Act of 1947 (50 U.S.C. 3024(d)) that-- (1) creates a new start effort; (2) terminates a program with appropriated funding of $10,000,000 or more; (3) transfers funding into or out of the National Intelligence Program; or (4) transfers funding between appropriations, unless the congressional intelligence committees are notified 30 days in advance of such reprogramming of funds; this notification period may be reduced for urgent national security requirements. (b) None of the funds provided for the National Intelligence Program in this or any prior appropriations Act shall be available for obligation or expenditure through a reprogramming or transfer of funds in accordance with section 102A(d) of the National Security Act of 1947 (50 U.S.C. 3024(d)) that results in a cumulative increase or decrease of the levels specified in the classified annex accompanying the Act unless the congressional intelligence committees are notified 30 days in advance of such reprogramming of funds; this notification period may be reduced for urgent national security requirements. Sec. 8082. (a) Any agency receiving funds made available in this Act, shall, subject to subsections (b) and (c), post on the public website of that agency any report required to be submitted by the Congress in this or any other Act, upon the determination by the head of the agency that it shall serve the national interest. (b) Subsection (a) shall not apply to a report if-- (1) the public posting of the report compromises national security; or (2) the report contains proprietary information. (c) The head of the agency posting such report shall do so only after such report has been made available to the requesting Committee or Committees of Congress for no less than 45 days. Sec. 8083. (a) None of the funds appropriated or otherwise made available by this Act may be expended for any Federal contract for an amount in excess of $1,000,000, unless the contractor agrees not to-- (1) enter into any agreement with any of its employees or independent contractors that requires, as a condition of employment, that the employee or independent contractor agree to resolve through arbitration any claim under title VII of the Civil Rights Act of 1964 or any tort related to or arising out of sexual assault or harassment, including assault and battery, intentional infliction of emotional distress, false imprisonment, or negligent hiring, supervision, or retention; or (2) take any action to enforce any provision of an existing agreement with an employee or independent contractor that mandates that the employee or independent contractor resolve through arbitration any claim under title VII of the Civil Rights Act of 1964 or any tort related to or arising out of sexual assault or harassment, including assault and battery, intentional infliction of emotional distress, false imprisonment, or negligent hiring, supervision, or retention. (b) None of the funds appropriated or otherwise made available by this Act may be expended for any Federal contract unless the contractor certifies that it requires each covered subcontractor to agree not to enter into, and not to take any action to enforce any provision of, any agreement as described in paragraphs (1) and (2) of subsection (a), with respect to any employee or independent contractor performing work related to such subcontract. For purposes of this subsection, a ``covered subcontractor'' is an entity that has a subcontract in excess of $1,000,000 on a contract subject to subsection (a). (c) The prohibitions in this section do not apply with respect to a contractor's or subcontractor's agreements with employees or independent contractors that may not be enforced in a court of the United States. (d) The Secretary of Defense may waive the application of subsection (a) or (b) to a particular contractor or subcontractor for the purposes of a particular contract or subcontract if the Secretary or the Deputy Secretary personally determines that the waiver is necessary to avoid harm to national security interests of the United States, and that the term of the contract or subcontract is not longer than necessary to avoid such harm. The determination shall set forth with specificity the grounds for the waiver and for the contract or subcontract term selected, and shall state any alternatives considered in lieu of a waiver and the reasons each such alternative would not avoid harm to national security interests of the United States. The Secretary of Defense shall transmit to Congress, and simultaneously make public, any determination under this subsection not less than 15 business days before the contract or subcontract addressed in the determination may be awarded. (including transfer of funds) Sec. 8084. From within the funds appropriated for operation and maintenance for the Defense Health Program in this Act, up to $162,500,000, shall be available for transfer to the Joint Department of Defense-Department of Veterans Affairs Medical Facility Demonstration Fund in accordance with the provisions of section 1704 of the National Defense Authorization Act for Fiscal Year 2010, Public Law 111-84: Provided, That for purposes of section 1704(b), the facility operations funded are operations of the integrated Captain James A. Lovell Federal Health Care Center, consisting of the North Chicago Veterans Affairs Medical Center, the Navy Ambulatory Care Center, and supporting facilities designated as a combined Federal medical facility as described by section 706 of Public Law 110-417: Provided further, That additional funds may be transferred from funds appropriated for operation and maintenance for the Defense Health Program to the Joint Department of Defense-Department of Veterans Affairs Medical Facility Demonstration Fund upon written notification by the Secretary of Defense to the Committees on Appropriations of the House of Representatives and the Senate. Sec. 8085. None of the funds appropriated or otherwise made available by this Act may be used by the Department of Defense or a component thereof in contravention of the provisions of section 130h of title 10, United States Code. Sec. 8086. Notwithstanding price or other limitations applicable to the purchase of passenger carrying vehicles, appropriations available to the Department of Defense may be used for the purchase of: (1) heavy and light armored vehicles for the physical security of personnel or for force protection purposes up to a limit of $450,000 per vehicle; and (2) passenger motor vehicles up to a limit of $75,000 per vehicle for use by military and civilian employees of the Department of Defense in the United States Central Command area of responsibility. (including transfer of funds) Sec. 8087. Upon a determination by the Director of National Intelligence that such action is necessary and in the national interest, the Director may, with the approval of the Director of the Office of Management and Budget, transfer not to exceed $1,500,000,000 of the funds made available in this Act for the National Intelligence Program: Provided, That such authority to transfer may not be used unless for higher priority items, based on unforeseen intelligence requirements, than those for which originally appropriated and in no case where the item for which funds are requested has been denied by the Congress: Provided further, That a request for multiple reprogrammings of funds using authority provided in this section shall be made prior to June 30, 2025. Sec. 8088. Of the amounts appropriated in this Act for ``Shipbuilding and Conversion, Navy'', $204,939,000, to remain available for obligation until September 30, 2029, may be used for the purchase of two used sealift vessels for the National Defense Reserve Fleet, established under section 11 of the Merchant Ship Sales Act of 1946 (46 U.S.C. 57100): Provided, That such amounts are available for reimbursements to the Ready Reserve Force, Maritime Administration account of the United States Department of Transportation for programs, projects, activities, and expenses related to the National Defense Reserve Fleet: Provided further, That notwithstanding section 2218 of title 10, United States Code, none of these funds shall be transferred to the National Defense Sealift Fund for execution. Sec. 8089. The Secretary of Defense shall post grant awards on a public website in a searchable format. Sec. 8090. None of the funds made available by this Act may be used by the National Security Agency to-- (1) conduct an acquisition pursuant to section 702 of the Foreign Intelligence Surveillance Act of 1978 for the purpose of targeting a United States person; or (2) acquire, monitor, or store the contents (as such term is defined in section 2510(8) of title 18, United States Code) of any electronic communication of a United States person from a provider of electronic communication services to the public pursuant to section 501 of the Foreign Intelligence Surveillance Act of 1978. Sec. 8091. None of the funds made available in this or any other Act may be used to pay the salary of any officer or employee of any agency funded by this Act who approves or implements the transfer of administrative responsibilities or budgetary resources of any program, project, or activity financed by this Act to the jurisdiction of another Federal agency not financed by this Act without the express authorization of Congress: Provided, That this limitation shall not apply to transfers of funds expressly provided for in Department of Defense Appropriations Acts, or provisions of Acts providing supplemental appropriations for the Department of Defense. Sec. 8092. Of the amounts appropriated in this Act for ``Operation and Maintenance, Navy'', $769,047,000, to remain available until expended, may be used for any purposes related to the National Defense Reserve Fleet established under section 11 of the Merchant Ship Sales Act of 1946 (46 U.S.C. 57100): Provided, That such amounts are available for reimbursements to the Ready Reserve Force, Maritime Administration account of the United States Department of Transportation for programs, projects, activities, and expenses related to the National Defense Reserve Fleet. Sec. 8093. (a) None of the funds provided in this Act for the TAO Fleet Oiler program shall be used to award a new contract that provides for the acquisition of the following components unless those components are manufactured in the United States: Auxiliary equipment (including pumps) for shipboard services; propulsion equipment (including engines, reduction gears, and propellers); shipboard cranes; spreaders for shipboard cranes; and anchor chains, specifically for the seventh and subsequent ships of the fleet. (b) None of the funds provided in this Act for the FFG(X) Frigate program shall be used to award a new contract that provides for the acquisition of the following components unless those components are manufactured in the United States: Air circuit breakers; gyrocompasses; electronic navigation chart systems; steering controls; pumps; propulsion and machinery control systems; totally enclosed lifeboats; auxiliary equipment pumps; shipboard cranes; auxiliary chill water systems; and propulsion propellers: Provided, That the Secretary of the Navy shall incorporate United States manufactured propulsion engines and propulsion reduction gears into the FFG(X) Frigate program beginning not later than with the eleventh ship of the program. Sec. 8094. None of the funds provided in this Act for requirements development, performance specification development, concept design and development, ship configuration development, systems engineering, naval architecture, marine engineering, operations research analysis, industry studies, preliminary design, development of the Detailed Design and Construction Request for Proposals solicitation package, or related activities for the T-ARC(X) Cable Laying and Repair Ship or the T-AGOS(X) Oceanographic Surveillance Ship may be used to award a new contract for such activities unless these contracts include specifications that all auxiliary equipment, including pumps and propulsion shafts, are manufactured in the United States. Sec. 8095. No amounts credited or otherwise made available in this or any other Act to the Department of Defense Acquisition Workforce Development Account may be transferred to: (1) the Rapid Prototyping Fund established under section 804(d) of the National Defense Authorization Act for Fiscal Year 2016 (10 U.S.C. 2302 note); or (2) credited to a military-department specific fund established under section 804(d)(2) of the National Defense Authorization Act for Fiscal Year 2016 (as amended by section 897 of the National Defense Authorization Act for Fiscal Year 2017). Sec. 8096. None of the funds made available by this Act may be used for Government Travel Charge Card expenses by military or civilian personnel of the Department of Defense for gaming, or for entertainment that includes topless or nude entertainers or participants, as prohibited by Department of Defense Instruction 1015.10 (enclosures 3 and 14b). Sec. 8097. (a) None of the funds appropriated or otherwise made available by this Act may be used to maintain or establish a computer network unless such network is designed to block access to pornography websites. (b) Nothing in subsection (a) shall limit the use of funds necessary for any Federal, State, tribal, or local law enforcement agency or any other entity carrying out criminal investigations, prosecution, or adjudication activities, or for any activity necessary for the national defense, including intelligence activities. Sec. 8098. None of the funds provided for, or otherwise made available, in this or any other Act, may be obligated or expended by the Secretary of Defense to provide motorized vehicles, aviation platforms, munitions other than small arms and munitions appropriate for customary ceremonial honors, operational military units, or operational military platforms if the Secretary determines that providing such units, platforms, or equipment would undermine the readiness of such units, platforms, or equipment. Sec. 8099. (a) None of the funds made available by this or any other Act may be used to enter into a contract, memorandum of understanding, or cooperative agreement with, make a grant to, or provide a loan or loan guarantee to any corporation that has any unpaid Federal tax liability that has been assessed, for which all judicial and administrative remedies have been exhausted or have lapsed, and that is not being paid in a timely manner pursuant to an agreement with the authority responsible for collecting such tax liability, provided that the applicable Federal agency is aware of the unpaid Federal tax liability. (b) Subsection (a) shall not apply if the applicable Federal agency has considered suspension or debarment of the corporation described in such subsection and has made a determination that such suspension or debarment is not necessary to protect the interests of the Federal Government. Sec. 8100. (a) Amounts appropriated under title IV of this Act, as detailed in budget activity eight in the tables titled Explanation of Project Level Adjustments in the explanatory statement regarding this Act, may be used for expenses for the agile research, development, test and evaluation, procurement, production, modification, and operation and maintenance, only for the following Software and Digital Technology Pilot programs-- (1) Defensive CYBER (PE 0608041A); (2) Risk Management Information (PE 0608013N); (3) Maritime Tactical Command and Control (PE 0608231N); (4) Space Domain Awareness/Planning/Tasking SW (PE 1208248SF); (5) Global Command and Control System (PE 0303150K); (6) Acquisition Visibility (PE 0608648D8Z); and (7) Cyber Operations Technology Support (PE 0306250JCY). (b) None of the funds appropriated by this or prior Department of Defense Appropriations Acts may be obligated or expended to initiate additional Software and Digital Technology Pilot Programs in fiscal year 2025. Sec. 8101. None of the funds appropriated or otherwise made available by this Act may be used to transfer the National Reconnaissance Office to the Space Force: Provided, That nothing in this Act shall be construed to limit or prohibit cooperation, collaboration, and coordination between the National Reconnaissance Office and the Space Force or any other elements of the Department of Defense. Sec. 8102. None of the funds appropriated or otherwise made available by this Act may be used to transfer any Federal mission, covered member of the National Guard (as defined in section 1733(g) of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31)), or covered space function of the National Guard (as defined in section 924(e) of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31)), from the National Guard to the United States Space Force in contravention of section 104 of title 32, United States Code, or section 18238 of title 10, United States Code. Sec. 8103. None of the funds made available in this Act may be used in contravention of the following laws enacted or regulations promulgated to implement the United Nations Convention Against Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment (done at New York on December 10, 1984): (1) Section 2340A of title 18, United States Code. (2) Section 2242 of the Foreign Affairs Reform and Restructuring Act of 1998 (division G of Public Law 105-277; 112 Stat. 2681-822; 8 U.S.C. 1231 note) and regulations prescribed thereto, including regulations under part 208 of title 8, Code of Federal Regulations, and part 95 of title 22, Code of Federal Regulations. (3) Sections 1002 and 1003 of the Department of Defense, Emergency Supplemental Appropriations to Address Hurricanes in the Gulf of Mexico, and Pandemic Influenza Act, 2006 (Public Law 109-148). Sec. 8104. None of the funds appropriated or otherwise made available by this Act may be used to provide arms, training, intelligence, or other assistance to the Azov Battalion, the Third Separate Assault Brigade, or any successor organization. Sec. 8105. During the current fiscal year, the Department of Defense is authorized to incur obligations of not to exceed $350,000,000 for purposes specified in section 2350j(c) of title 10, United States Code, in anticipation of receipt of contributions, only from the Government of Kuwait, under that section: Provided, That, such contributions shall, upon receipt, be credited to the appropriations or fund which incurred such obligations. Sec. 8106. Of the amounts appropriated in this Act under the heading ``Operation and Maintenance, Defense-Wide'', for the Defense Security Cooperation Agency, $1,423,630,000, to remain available until September 30, 2026, shall be available for International Security Cooperation Programs and other programs to provide support and assistance to foreign security forces or other groups or individuals to conduct, support or facilitate counterterrorism, crisis response, or building partner capacity programs: Provided, That the Secretary of Defense shall, not less than 15 days prior to obligating funds made available in this section, notify the congressional defense committees in writing of the details of any planned obligation: Provided further, That the Secretary of Defense shall provide quarterly reports to the Committees on Appropriations of the House of Representatives and the Senate on the use and status of funds made available in this section. Sec. 8107. Of the amounts appropriated in this Act under the heading ``Operation and Maintenance, Defense-Wide'', for the Defense Security Cooperation Agency, $61,406,000, to remain available until September 30, 2026, shall be for payments to reimburse key cooperating nations for logistical, military, and other support, including access, provided to United States military and stability operations to counter the Islamic State of Iraq and Syria: Provided, That such reimbursement payments may be made in such amounts as the Secretary of Defense, with the concurrence of the Secretary of State, and in consultation with the Director of the Office of Management and Budget, may determine, based on documentation determined by the Secretary of Defense to adequately account for the support provided, and such determination is final and conclusive upon the accounting officers of the United States, and 15 days following written notification to the appropriate congressional committees: Provided further, That these funds may be used for the purpose of providing specialized training and procuring supplies and specialized equipment and providing such supplies and loaning such equipment on a non-reimbursable basis to coalition forces supporting United States military and stability operations to counter the Islamic State of Iraq and Syria, and 15 days following written notification to the appropriate congressional committees: Provided further, That the Secretary of Defense shall provide quarterly reports to the Committees on Appropriations of the House of Representatives and the Senate on the use and status of funds made available in this section. Sec. 8108. Of the amounts appropriated in this Act under the heading ``Operation and Maintenance, Defense-Wide'', for the Defense Security Cooperation Agency, $380,000,000, to remain available until September 30, 2026, shall be available for support authorized by subparagraphs (A) through (E) of section 1226(a)(1) of the National Defense Authorization Act for Fiscal Year 2016 (22 U.S.C. 2151 note), of which not less than $150,000,000 shall be for support authorized by subparagraph (A) of such section: Provided, That the Secretary of Defense shall, not less than 15 days prior to obligating funds made available in this section, notify the congressional defense committees in writing of the details of any planned obligation and the nature of the expenses incurred: Provided further, That the Secretary of Defense shall provide quarterly reports to the Committees on Appropriations of the House of Representatives and the Senate on the use and status of funds made available in this section. Sec. 8109. The Secretary of Defense shall, not less than 15 days prior to taking any action to pause, suspend, or eliminate assistance to a country made available by this Act or prior Acts making appropriations for the Department of Defense, notify the Committees on Appropriations of the House of Representatives and the Senate. Sec. 8110. None of the funds appropriated or otherwise made available by this Act may be used in contravention of the War Powers Resolution (50 U.S.C. 1541 et seq.). Sec. 8111. None of the funds appropriated or otherwise made available by this Act for excess defense articles, assistance under section 333 of title 10, United States Code, or peacekeeping operations for the countries designated annually to be in violation of the standards of the Child Soldiers Prevention Act of 2008 (Public Law 110- 457; 22 U.S.C. 2370c-1) may be used to support any military training or operation that includes child soldiers, as defined by the Child Soldiers Prevention Act of 2008, unless such assistance is otherwise permitted under section 404 of the Child Soldiers Prevention Act of 2008. Sec. 8112. None of the funds appropriated or otherwise made available by this Act may be made available for any member of Hamas, Hezbollah, the Houthis, or the Taliban. Sec. 8113. None of the funds appropriated or otherwise made available by this Act may be made available for the United Nations Relief and Works Agency. Sec. 8114. Notwithstanding any other provision of law, any transfer of funds, appropriated or otherwise made available by this Act, for support to friendly foreign countries in connection with the conduct of operations in which the United States is not participating, pursuant to section 331(d) of title 10, United States Code, shall be made in accordance with section 8005 of this Act. Sec. 8115. (a) None of the funds appropriated or otherwise made available by this or any other Act may be used by the Secretary of Defense, or any other official or officer of the Department of Defense, to enter into a contract, memorandum of understanding, or cooperative agreement with, or make a grant to, or provide a loan or loan guarantee to Rosoboronexport or any subsidiary of Rosoboronexport. (b) The Secretary of Defense may waive the limitation in subsection (a) if the Secretary, in consultation with the Secretary of State and the Director of National Intelligence, determines that it is in the vital national security interest of the United States to do so, and certifies in writing to the congressional defense committees that-- (1) Rosoboronexport has ceased the transfer of lethal military equipment to, and the maintenance of existing lethal military equipment for, the Government of the Syrian Arab Republic; (2) the armed forces of the Russian Federation have withdrawn from Ukraine; and (3) agents of the Russian Federation have ceased taking active measures to destabilize the control of the Government of Ukraine over eastern Ukraine. (c) The Inspector General of the Department of Defense shall conduct a review of any action involving Rosoboronexport with respect to a waiver issued by the Secretary of Defense pursuant to subsection (b), and not later than 90 days after the date on which such a waiver is issued by the Secretary of Defense, the Inspector General shall submit to the congressional defense committees a report containing the results of the review conducted with respect to such waiver. Sec. 8116. The Secretary of Defense shall notify the congressional defense committees in writing not more than 30 days after the receipt of any contribution of funds received from the government of a foreign country for any purpose relating to the stationing or operations of the United States Armed Forces: Provided, That such notification shall include the amount of the contribution; the purpose for which such contribution was made; and the authority under which such contribution was accepted by the Secretary of Defense: Provided further, That not fewer than 15 days prior to obligating such funds, the Secretary of Defense shall submit to the congressional defense committees in writing a notification of the planned use of such contributions, including whether such contributions would support existing or new stationing or operations of the United States Armed Forces. Sec. 8117. (a) The Chairman of the Joint Chiefs, in coordination with the Secretaries of the military departments and the Chiefs of the Armed Forces, shall submit to the congressional defense committees, not later than 30 days after the last day of each quarter of the fiscal year, a report on the use of operation and maintenance funds for activities or exercises in excess of $5,000,000 that have been designated by the Secretary of Defense as unplanned activities for fiscal year 2025. (b) Each report required by subsection (a) shall also include-- (1) the title, date, and location, of each activity and exercise covered by the report; (2) an identification of the military department and units that participated in each such activity or exercise (including an estimate of the number of participants); (3) the total cost of the activity or exercise, by budget line item (with a breakdown by cost element such as transportation); and (4) a short explanation of the objective of the activity or exercise. (c) The report required by subsection (a) shall be submitted in unclassified form, but may include a classified annex. Sec. 8118. Concurrent with any exercise of the drawdown authority provided by Section 506 of the Foreign Assistance Act of 1961 (22 U.S.C. 2318), the Secretary of Defense shall submit a written report to the Committees on Appropriations of the House of Representatives and the Senate that contains a description of the defense articles and defense services to be furnished, including the quantity, approximate value, and a timeline for the delivery of such defense articles and defense services, as well as an estimate of the cost to replace such article or an equivalent capability. Sec. 8119. Not later than 15 days after the date on which any foreign base that involves the stationing or operations of the United States Armed Forces, including a temporary base, permanent base, or base owned and operated by a foreign country, is opened or closed, the Secretary of Defense shall notify the congressional defense committees in writing of the opening or closing of such base: Provided, That such notification shall also include information on any personnel changes, costs, and savings associated with the opening or closing of such base. Sec. 8120. None of the funds appropriated or otherwise made available by this or any other Act shall be obligated or expended by the United States Government for any of the following purposes: (1) To establish any military installation or base for the purpose of providing for the permanent stationing of United States Armed Forces in Iraq. (2) To exercise United States control over any oil resource of Iraq or Syria. Sec. 8121. Up to $500,000,000 of the funds appropriated by this Act under the heading ``Operation and Maintenance, Defense-Wide'' for the Defense Security Cooperation Agency may be used to support the armed forces of Jordan. Sec. 8122. Not later than 180 days after the date of the enactment of this Act, United States Southern Command shall assume combatant command responsibility for activities related to Mexico. Sec. 8123. The total amount appropriated or otherwise made available in title II of this Act is hereby reduced by $500,000,000 to limit excessive growth in the procurement of advisory and assistance services, as follows: ``Operation and Maintenance, Army'', $138,000,000; ``Operation and Maintenance, Navy'', $68,000,000; ``Operation and Maintenance, Marine Corps'', $52,000,000; ``Operation and Maintenance, Air Force'', $77,000,000; ``Operation and Maintenance, Space Force'', $9,500,000; ``Operation and Maintenance, Defense-Wide'', $143,000,000; and ``Operation and Maintenance, Army National Guard'', $12,500,000: Provided, That this section shall not apply to appropriations for the National Intelligence Program and Military Intelligence Program. Sec. 8124. The total amount appropriated or otherwise made available in title II of this Act is hereby reduced by $100,000,000 to reflect savings attributable to efficiencies and management improvements in the funding of miscellaneous or other contracts in the military departments, as follows: ``Operation and Maintenance, Army'', $21,000,000; ``Operation and Maintenance, Navy'', $25,000,000; ``Operation and Maintenance, Marine Corps'', $3,500,000; ``Operation and Maintenance, Air Force'', $22,000,000; ``Operation and Maintenance, Space Force'', $1,700,000; and ``Operation and Maintenance, Defense-Wide'', $26,800,000: Provided, That this section shall not apply to appropriations for the National Intelligence Program and Military Intelligence Program. Sec. 8125. The amounts appropriated in title II of this Act are hereby reduced by $300,000,000 to reflect excess cash balances in Department of Defense Working Capital Funds, as follows: (1) From ``Operation and Maintenance, Army'', $150,000,000; and (2) From ``Operation and Maintenance, Navy'', $150,000,000. Sec. 8126. Notwithstanding any other provision of this Act, to reflect savings due to favorable foreign exchange rates, the total amount appropriated in this Act is hereby reduced by $250,000,000. Sec. 8127. (a) Within 45 days of enactment of this Act, the Secretary of Defense shall allocate amounts made available from the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Defense Fund for fiscal year 2025 pursuant to the transfer authority in section 102(b)(1) of the CHIPS Act of 2022 (division A of Public Law 117-167), to the account specified, in the amounts specified, and for the projects and activities specified, in the table titled ``Department of Defense Allocation of Funds: CHIPS and Science Act Fiscal Year 2025'' in the explanatory statement regarding this Act. (b) Neither the President nor his designee may allocate any amounts that are made available for any fiscal year under section 102(b)(2) of the CHIPS Act of 2022 if there is in effect an Act making or continuing appropriations for part of a fiscal year for the Department of Defense: Provided, That in any fiscal year, the matter preceding this proviso shall not apply to the allocation, apportionment, or allotment of amounts for continuing administration of programs allocated using funds transferred from the CHIPS for America Defense Fund, which may be allocated pursuant to the transfer authority in section 102(b)(1) of the CHIPS Act of 2022 only in amounts that are no more than the allocation for such purposes in subsection (a) of this section. (c) The Secretary of Defense may reallocate funds allocated by subsection (a) of this section, subject to the terms and conditions contained in the provisos in section 8005 of this Act: Provided, That amounts may be reallocated pursuant to this subsection only for those requirements necessary to carry out section 9903(b) of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283). (d) Concurrent with the annual budget submission of the President for fiscal year 2026, the Secretary of Defense shall submit to the Committees on Appropriations of the House of Representatives and the Senate proposed allocations by account and by program, project, or activity, with detailed justifications, for amounts made available under section 102(b)(2) of the CHIPS Act of 2022 for fiscal year 2026. (e) The Department of Defense shall provide the Committees on Appropriations of the House of Representatives and Senate quarterly reports on the status of balances of projects and activities funded by the CHIPS for America Defense Fund for amounts allocated pursuant to subsection (a) of this section, including all uncommitted, committed, and unobligated funds. Sec. 8128. In carrying out the program described in the memorandum on the subject of ``Policy for Assisted Reproductive Services for the Benefit of Seriously or Severely Ill/Injured (Category II or III) Active Duty Service Members'' issued by the Assistant Secretary of Defense for Health Affairs on April 3, 2012, and the guidance issued to implement such memorandum, the Secretary of Defense shall apply such policy and guidance, except that-- (1) the limitation on periods regarding embryo cryopreservation and storage set forth in part III(G) and in part IV(H) of such memorandum shall not apply; and (2) the term ``assisted reproductive technology'' shall include embryo cryopreservation and storage without limitation on the duration of such cryopreservation and storage. Sec. 8129. The Secretary of Defense may obligate funds made available in this Act for procurement or for research, development, test and evaluation for the F-35 Joint Strike Fighter to modify up to six F-35 aircraft, including up to two F-35 aircraft of each variant, to a test configuration: Provided, That the Secretary of Defense shall, with the concurrence of the Secretary of the Air Force and the Secretary of the Navy, notify the congressional defense committees not fewer than 30 days prior to obligating funds under this section: Provided further, That any transfer of funds pursuant to the authority provided in this section shall be made in accordance with section 8005 of this Act. Sec. 8130. None of the funds appropriated or otherwise made available by this or any other Act may be obligated to integrate an alternative engine on any F-35 aircraft. Sec. 8131. The Secretary of Defense may use up to $650,000,000 of the amounts appropriated or otherwise made available in this Act to the Department of Defense for the rapid acquisition and deployment of supplies and associated support services pursuant to section 3601 of title 10, United States Code, but only for the purposes specified in clauses (i), (ii), (iii), and (iv) of subsection (c)(3)(B) of such section and subject to the applicable limits specified in clauses (i), (ii), and (iii) of such subsection and, in the case of clause (iv) of such subsection, subject to a limit of $50,000,000, or for the purposes specified in section 229 of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31) and subject to a limit of $100,000,000: Provided, That the Secretary of Defense shall notify the congressional defense committees promptly of all uses of this authority. Sec. 8132. There is appropriated to the ``Department of Defense Credit Program Account'' established pursuant to section 903(b)(5) of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31), $89,049,000, to remain available until expended, for the cost of loans and loan guarantees pursuant to section 903(b) of such Act for a pilot program on capital assistance to support defense investment in the industrial base, of which up to $7,900,000 may be used for administrative expenses to carry out the capital assistance and technical assistance programs authorized by such section: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That such amounts are available to subsidize gross obligations for the principal amount of direct loans, and total loan principal, any part of which is to be guaranteed, not to exceed $8,000,000,000: Provided further, That the Secretary of Defense may assess administrative fees to recover all, or a portion, of the costs to administer loan and loan guarantees authorized under such section 903(b), and may credit fee receipts to the Department of Defense Credit Program Account, to be available until expended to cover such expenses: Provided further, That, for the purposes of carrying out the Congressional Budget Act of 1974, the Director of the Congressional Budget Office may request, and the Secretary shall promptly provide, documentation and information relating to a project identified by the Department of Defense pursuant to a Notice of Funding Availability for applications for credit assistance under such section 903(b). Sec. 8133. Notwithstanding section 8055 of this Act, amounts appropriated under the heading ``Research, Development, Test and Evaluation, Defense-Wide'' of this Act, as detailed in budget activity eight in the tables titled Explanation of Project Level Adjustments in the explanatory statement regarding this Act for ``Defense Innovation Unit (DIU) Fielding'' line 294A, that exceed the amounts requested may be used for expenses for agile research, development, test and evaluation, procurement, production, modification, and operation and maintenance requirements, including the initial acquisition of end- items for operational use: Provided, That none of these funds may be obligated or expended until 15 days after the Secretary of Defense provides the Committees on Appropriations of the House of Representatives and the Senate a detailed execution plan for such funds. Sec. 8134. None of the funds appropriated or otherwise made available by this Act may be used to support, directly or indirectly, the Wuhan Institute of Virology, or any laboratory owned or controlled by the governments of the People's Republic of China, the Republic of Cuba, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Russian Federation, the Bolivarian Republic of Venezuela under the Maduro regime, or any other country determined by the Secretary of Defense, with the concurrence of the Secretary of State, to be a foreign adversary. Sec. 8135. None of the funds appropriated or otherwise made available by this Act may be used to fund any work to be performed by EcoHealth Alliance, Inc. Sec. 8136. None of the funds appropriated or otherwise made available in this or any other Act may be used to transfer, release, or assist in the transfer or release to or within the United States, its territories, or possessions Khalid Sheikh Mohammed or any other detainee who-- (1) is not a United States citizen or a member of the Armed Forces of the United States; and (2) is or was held on or after June 24, 2009, at United States Naval Station, Guantanamo Bay, Cuba, by the Department of Defense. Sec. 8137. None of the funds appropriated or otherwise made available in this Act may be used to transfer any individual detained at United States Naval Station Guantanamo Bay, Cuba, to the custody or control of the individual's country of origin, any other foreign country, or any other foreign entity except in accordance with section 1034 of the National Defense Authorization Act for Fiscal Year 2016 (Public Law 114-92) and section 1035 of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (Public Law 115-232). Sec. 8138. (a) None of the funds appropriated or otherwise made available in this or any other Act may be used to construct, acquire, or modify any facility in the United States, its territories, or possessions to house any individual described in subsection (c) for the purposes of detention or imprisonment in the custody or under the effective control of the Department of Defense. (b) The prohibition in subsection (a) shall not apply to any modification of facilities at United States Naval Station, Guantanamo Bay, Cuba. (c) An individual described in this subsection is any individual who, as of June 24, 2009, is located at United States Naval Station, Guantanamo Bay, Cuba, and who-- (1) is not a citizen of the United States or a member of the Armed Forces of the United States; and (2) is-- (A) in the custody or under the effective control of the Department of Defense; or (B) otherwise under detention at United States Naval Station, Guantanamo Bay, Cuba. Sec. 8139. None of the funds made available by this Act may be used to carry out the closure or realignment of the United States Naval Station, Guantanamo Bay, Cuba. Sec. 8140. None of the funds appropriated or otherwise made available by this Act may be made available to remove a Chinese military company from the list required by section 1260H of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283), except in accordance with subsection (b)(3) of such section and 15 days following written notification to the congressional defense committees. Sec. 8141. None of the funds appropriated or otherwise made available by this Act may be used to enforce any COVID-19 mask mandates. Sec. 8142. None of the funds appropriated or otherwise made available by this Act may be used to require a member of the Armed Forces or a civilian employee of the Department of Defense to receive a vaccination against COVID-19. Sec. 8143. None of the funds appropriated or otherwise made available by this Act may be used to require vaccination against COVID- 19 as a prerequisite for student attendance at a Department of Defense Education Activity school. Sec. 8144. None of the funds appropriated or otherwise made available by this Act may be used, with regards to a member of the Armed Forces with a minor dependent child enrolled in an Exceptional Family Member Program (EFMP)-- (1) to provide gender transition procedures, including surgery or medication, to such child through such EFMP; (2) to provide a referral for a procedure described in paragraph (1) to such child through such EFMP; or (3) to approve a change of duty station for such member through such EFMP for the purpose of providing such child with access to procedures described in paragraph (1). Sec. 8145. (a) In General.--Notwithstanding section 7 of title 1, United States Code, section 1738C of title 28, United States Code, or any other provision of law, none of the funds provided by this Act, or previous appropriations Acts, shall be used in whole or in part to take any discriminatory action against a person, wholly or partially, on the basis that such person speaks, or acts, in accordance with a sincerely held religious belief, or moral conviction, that marriage is, or should be recognized as, a union of one man and one woman. (b) Discriminatory Action Defined.--As used in subsection (a), a discriminatory action means any action taken by the Federal Government to-- (1) alter in any way the Federal tax treatment of, or cause any tax, penalty, or payment to be assessed against, or deny, delay, or revoke an exemption from taxation under section 501(a) of the Internal Revenue Code of 1986 of, any person referred to in subsection (a); (2) disallow a deduction for Federal tax purposes of any charitable contribution made to or by such person; (3) withhold, reduce the amount or funding for, exclude, terminate, or otherwise make unavailable or deny, any Federal grant, contract, subcontract, cooperative agreement, guarantee, loan, scholarship, license, certification, accreditation, employment, or other similar position or status from or to such person; (4) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny, any entitlement or benefit under a Federal benefit program, including admission to, equal treatment in, or eligibility for a degree from an educational program, from or to such person; or (5) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny access or an entitlement to Federal property, facilities, educational institutions, speech fora (including traditional, limited, and nonpublic fora), or charitable fundraising campaigns from or to such person. (c) Accreditation; Licensure; Certification.--The Federal Government shall consider accredited, licensed, or certified for purposes of Federal law any person that would be accredited, licensed, or certified, respectively, for such purposes but for a determination against such person wholly or partially on the basis that the person speaks, or acts, in accordance with a sincerely held religious belief or moral conviction described in subsection (a). Sec. 8146. None of the funds appropriated or otherwise made available by this Act may be used to grant, renew, or maintain a security clearance for any individual listed as a signatory in the statement titled ``Public Statement on the Hunter Biden Emails'' dated October 19, 2020. Sec. 8147. None of the funds appropriated or otherwise made available by this Act may be used to-- (1) classify or facilitate the classification of any communications by a United States person as mis-, dis-, or mal- information; or (2) partner with or fund nonprofit or other organizations that pressure or recommend private companies to censor lawful and constitutionally protected speech of United States persons, including recommending the censoring or removal of content on social media platforms. Sec. 8148. None of the funds appropriated or otherwise made available by this Act may be used to carry out any program, project, or activity that promotes or advances Critical Race Theory, any concept associated with Critical Race Theory, or that teaches or trains any idea or concept that condones an individual being discriminated against or receiving adverse or beneficial treatment based on race or sex, that condones an individual feeling discomfort, guilt, anguish, or any other form of psychological distress on account of that individual's race or sex, as well as any idea or concept that regards one race as inherently superior to another race, the United States or its institutions as being systemically racist or sexist, an individual as being inherently racist, sexist, or oppressive by virtue of that individual's race or sex, an individual's moral character as being necessarily determined by race or sex, an individual as bearing responsibility for actions committed in the past by other members of the same race or sex, or meritocracy being racist, sexist, or having been created by a particular race to oppress another race. Sec. 8149. None of the funds appropriated or otherwise made available by this Act may be used to finalize, promulgate, or implement the rule proposed by the Department of Defense titled ``Federal Acquisition Regulation: Disclosure of Greenhouse Gas Emissions and Climate-Related Financial Risk'' (87 Fed. Reg. 68312; November 14, 2022), or to propose, promulgate, or implement any substantially similar rule or policy. Sec. 8150. None of the funds appropriated or otherwise made available by this Act shall be used to implement, administer, or otherwise carry out the Department of Defense memorandum dated October 20, 2022, or any successor to such memorandum, or to propose, promulgate, or implement any substantially similar rule or policy. Sec. 8151. None of the funds appropriated or otherwise made available by this Act may be used or transferred to another Federal agency, board, or commission to recruit, hire, or promote any person who has been convicted of a Federal or State child pornography charge, has been convicted of any other Federal or State sexual assault charge, or has been formally disciplined for using Federal resources to access, use, or sell child pornography. Sec. 8152. None of the funds appropriated or otherwise made available by this Act may be used to promote, host, facilitate, or support events on United States military installations or as part of military recruiting programs that violate the Department of Defense Joint Ethics Regulation or bring discredit upon the military, such as a drag queen story hour for children or the use of drag queens as military recruiters. Sec. 8153. None of the funds appropriated or otherwise made available by this Act may be used for surgical procedures or hormone therapies for the purposes of gender affirming care. Sec. 8154. None of the funds appropriated or otherwise made available by this Act may be used to carry out section 147 of title 10, United States Code, and sections 554(a) and 913(b) of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283). Sec. 8155. None of the funds appropriated or otherwise made available by this Act may be used to implement, administer, apply, enforce, or carry out the Diversity, Equity, Inclusion, and Accessibility Strategic Plan of the Department of Defense, or Executive Order 13985 of January 20, 2021 (86 Fed. Reg. 7009, relating to advancing racial equity and support for under-served communities through the Federal Government), Executive Order 14035 of June 25, 2021 (86 Fed. Reg. 34593, relating to diversity, equity, inclusion, and accessibility in the Federal workforce), Executive Order 14091 of February 16, 2023 (88 Fed. Reg. 10825, relating to further advancing racial equity and support for underserved communities through the Federal government), or shall be used to execute activities that promote or perpetuate divisive concepts related to race or sex, such as the concepts that one race or sex is inherently superior to another, or that an individual's moral character or worth is determined by their race or sex. Sec. 8156. None of the funds appropriated or otherwise made available by this Act may be used to pay for the costs of teleworking or remote working for any employee or contractor of the Department of Defense on a regular and recurring basis. Sec. 8157. None of the funds appropriated or otherwise made available by this Act may be used to provide assistance to the Department of Homeland Security to house persons on a military installation located in the United States. Sec. 8158. None of the funds appropriated or otherwise made available by this Act may be used for any office of diversity, equity, or inclusion. Sec. 8159. None of the funds appropriated or otherwise made available by this Act may be made available to NewsGuard Technologies Inc. Sec. 8160. None of the funds appropriated or otherwise made available by this Act may be used to implement any of the following executive orders: (1) Executive Order No. 13990, relating to Protecting Public Health and the Environment and Restoring Science To Tackle the Climate Crisis. (2) Executive Order No. 14008, relating to Tackling the Climate Crisis at Home and Abroad. (3) Section 6 of Executive Order No. 14013, relating to Rebuilding and Enhancing Programs To Resettle Refugees and Planning for the Impact of Climate Change on Migration. (4) Executive Order No. 14030, relating to Climate-Related Financial Risk. (5) Executive Order No. 14057, relating to Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability. (6) Executive Order No. 14082, relating to Implementation of the Energy and Infrastructure Provisions of the Inflation Reduction Act of 2022. (7) Executive Order No. 14096, relating to Revitalizing Our Nation's Commitment to Environmental Justice for All. Sec. 8161. None of the funds appropriated or otherwise made available by this Act may be used in contravention of Department of Defense Instruction 3216.01, ``Use of Animals in DoD Conducted and Supported Research and Training'', dated March 20, 2019. Sec. 8162. From amounts appropriated or otherwise made available by title II of this Act under the heading ``Operation and Maintenance, Air Force'', the Secretary of Defense may reimburse the Federated States of Micronesia in an amount not to exceed $34,000,000 for land acquisition costs for defense sites in Yap: Provided, That the Secretary shall, not less than 15 days prior to making such reimbursement, notify the Committees on Appropriations of the House of Representatives and the Senate in writing of the details of any proposed reimbursement. Sec. 8163. None of the funds appropriated or otherwise made available by this Act may be used to divest or prepare to divest any U- 2 aircraft. Sec. 8164. None of the funds appropriated or otherwise made available by this Act may be used to divest or prepare to divest any F- 15 aircraft unless the Secretary of Defense certifies to the Committees on Appropriations of the House of Representatives and the Senate that such aircraft will be replaced in a manner that maintains the current total aircraft assigned at a given unit and the readiness of such unit. (including transfer of funds) Sec. 8165. The Secretary of Defense may transfer funds from any available Department of the Navy appropriation (except military construction) to any available Navy ship construction appropriation for the purpose of liquidating necessary changes resulting from inflation, market fluctuations, or rate adjustments for any ship construction program appropriated in law: Provided, That the Secretary may transfer not to exceed $20,000,000 under the authority provided by this section: Provided further, That the Secretary shall, not less than 30 days prior to the transfer of any funds, notify the Committees on Appropriations of the House of Representatives and the Senate in writing of the details of any proposed transfer: Provided further, That any funds transferred pursuant to this section shall retain the same period of availability as when originally appropriated: Provided further, That the transfer authority provided under this section is in addition to any other transfer authority provided elsewhere in this Act. Sec. 8166. (a) None of the funds appropriated or otherwise made available by this Act may be made available to withhold, halt, reverse, or cancel the delivery of defense articles or defense services from the United States to Israel. (b) Any defense article and defense service withheld from delivery to Israel by the Department of Defense as of the date of the enactment of this Act shall be delivered to Israel not later than 15 days after the date of the enactment of this Act. (c) Notwithstanding any other provision of law, the Secretary of Defense shall obligate any remaining unobligated balances of funds appropriated or otherwise made available before the date of the enactment of this Act for the Department of Defense for assistance for Israel not later than 30 days after the date of the enactment of this Act. Sec. 8167. None of the funds made available by this Act or any other Act may be made available for-- (1) The Joint Logistics Over-the-Shore capabilities in the vicinity of Gaza; or (2) The construction, assembly, maintenance, or operation, of any pier, dock, landing, wharf, or any other structure in the vicinity of Gaza. Sec. 8168. None of the funds made available by this Act or any other Act may be used for hiring practices based on gender, religion, political affiliation, or race. Sec. 8169. None of the funds appropriated or otherwise made available by this Act may be used in contravention of section 1052 of the National Defense Authorization Act for Fiscal Year 2024. spending reduction account Sec. 8170. $0. This Act may be cited as the ``Department of Defense Appropriations Act, 2025''. Union Calendar No. 460 118th CONGRESS 2d Session H. R. 8774 [Report No. 118-557] _______________________________________________________________________ A BILL Making appropriations for the Department of Defense for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ June 17, 2024 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

usgpo

2024-06-24T00:12:21.681488

BILLS-118hr7984rfs

Rural Small Business Resilience Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 7984 Referred in Senate (RFS)] <DOC> 118th CONGRESS 2d Session H. R. 7984 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Received; read twice and referred to the Committee on Small Business and Entrepreneurship _______________________________________________________________________ AN ACT To require the Administrator of the Small Business Administration to improve access to disaster assistance for individuals located in rural areas, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Rural Small Business Resilience Act''. SEC. 2. ACCESS TO DISASTER ASSISTANCE FOR INDIVIDUALS LOCATED IN RURAL AREAS. Not later than one year after the date of the enactment of this Act, the Administrator of the Small Business Administration shall ensure that the Associate Administrator of the Office of Disaster Recovery and Resilience of the Administration takes such actions as necessary to ensure that individuals located in rural areas (as defined in paragraph (16) of section 7(b) of the Small Business Act (15 U.S.C. 636(b)(16))) for which a disaster declaration has been made under such section 7(b) have full access to assistance provided under such section, including by providing targeted outreach and marketing materials to such individuals. SEC. 3. TECHNICAL AMENDMENT. The second paragraph (16) (relating to statute of limitations) of section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is redesignated as paragraph (17). Passed the House of Representatives June 11, 2024. Attest: KEVIN F. MCCUMBER, Clerk.

usgpo

2024-06-24T00:12:24.988686

BILLS-118hres1304ih

Expressing support for the designation of June 19, 2024, as World Sickle Cell Awareness Day in order to increase public awareness across the United States and global community about sickle cell disease and the continued need for empirical research, early detection screenings, novel effective treatments leading to a cure, and preventative care programs with respect to complications from sickle cell anemia and conditions relating to sickle cell disease.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1304 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1304 Expressing support for the designation of June 19, 2024, as ``World Sickle Cell Awareness Day'' in order to increase public awareness across the United States and global community about sickle cell disease and the continued need for empirical research, early detection screenings, novel effective treatments leading to a cure, and preventative care programs with respect to complications from sickle cell anemia and conditions relating to sickle cell disease. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Mr. Davis of Illinois (for himself, Mr. Burgess, Ms. Lee of California, Mr. Carter of Georgia, Mr. Blumenauer, Mr. Thanedar, Ms. Wild, Mr. Jackson of Illinois, Mr. Johnson of Georgia, Ms. Crockett, Ms. Adams, Mrs. Ramirez, Mr. Davis of North Carolina, Mr. Carson, Ms. Jackson Lee, Mr. Grijalva, Ms. Norton, and Mr. Garamendi) submitted the following resolution; which was referred to the Committee on Energy and Commerce _______________________________________________________________________ RESOLUTION Expressing support for the designation of June 19, 2024, as ``World Sickle Cell Awareness Day'' in order to increase public awareness across the United States and global community about sickle cell disease and the continued need for empirical research, early detection screenings, novel effective treatments leading to a cure, and preventative care programs with respect to complications from sickle cell anemia and conditions relating to sickle cell disease. Whereas sickle cell disease (referred to in this preamble as ``SCD'') is a group of inherited red blood cell disorders, a genetic condition present at birth, and a major health problem in the United States and worldwide; Whereas the 2024 theme of World Sickle Cell Awareness Day, ``Hope Through Progress: Advancing Sickle Cell Care Globally'', is an immediate call to bring voices together to improve the health and quality of life for individuals living with SCD and their families; Whereas, in 1972, Dr. Charles Whitten cofounded the Sickle Cell Disease Association of America to improve research, education, and health care for SCD patients and which is now headquartered in Hanover, Maryland; Whereas, in 1972, Congress passed the National Sickle Cell Anemia Control Act (Public Law 92-294; 86 Stat. 136), which, for the first time, provided authority to establish education, information, screening, testing, counseling, research, and treatment programs for SCD; Whereas sickle cell trait (referred to in this preamble as ``SCT'') is a gene mutation that causes a single misspelling in the DNA instructions for hemoglobin, a protein that aids in carrying oxygen in the blood, and can result in chronic complications, including anemia, stroke, infections, organ failure, tissue damage, intense periods of pain referred to as vaso-occulsive crises, and even premature death in individuals living with SCD; Whereas SCT occurs when an individual inherits 1 copy of the sickle cell gene from 1 parent, and, although most individuals who have SCT live normal lives, when both parents have SCT, there is a 25-percent chance that any of their children will have SCD; Whereas there are an estimated 1,000,000 to 3,000,000 individuals with SCT in the United States, with many unaware of their status; Whereas an estimated 100,000 individuals have SCD in the United States, with 1 out of every 365 African-American births and 1 out of every 16,300 Hispanic-American births resulting in SCD, and nearly 1 out of 13 African-American babies are born with SCT; Whereas SCD affects millions of individuals throughout the world, especially individuals of genetic descent from certain countries in sub-Saharan Africa, South and Central America, the Caribbean, South Asia, the Middle East, and the Mediterranean basin; Whereas the variance relating to the prevalence of SCT ranges greatly by region and demography, with overall rates as high as 40 percent in parts of sub-Saharan Africa and among newborns in parts of India; Whereas, in many countries that are poor in resources, 90 percent of children with SCD do not live to see adulthood; Whereas, approximately 1,000 children in Africa are born with SCD each day, more than one half of whom will die before their fifth birthday; Whereas the high prevalence of SCD in the central and western regions of India results in approximately 20 percent of babies diagnosed with SCD in parts of the western region dying before the age of 2; Whereas, in 2006, the World Health Assembly passed a resolution, adopted by the United Nations in 2009, recognizing SCD as a public health priority with a call to action for each country to implement measures to tackle the disease, and in 2010, the World Health Assembly passed a resolution relating to preventing and managing birth defects, including SCD; Whereas screening newborns for SCD is a crucial first step for families to obtain a timely diagnosis, to obtain comprehensive care, and to decrease the mortality rate for children with respect to SCD; Whereas approved treatments for SCD are limited, with the Food and Drug Administration approving only 4 SCD therapies since 2017, but, as of the date of adoption of this resolution, there are more than 40 SCD therapies in development; Whereas there is an immediate need for lifesaving therapeutics that can improve the duration and quality of life for individuals with SCD; Whereas, in 2020, the National Academies of Sciences, Engineering, and Medicine developed a comprehensive strategic plan and blueprint for action to address SCD, which highlights the need to develop new innovative therapies and to address barriers to the equitable access of approved treatments; Whereas, in 2020, the Department of Health and Human Services, in partnership with the American Society of Hematology and the SickleInAfrica Consortium, and in collaboration with the World Health Organization, hosted a webinar for a joint effort to strengthen efforts to combat SCD during the COVID-19 pandemic and beyond; Whereas the late Kwaku Ohene-Frempong, M.D., Professor Emeritus of Pediatrics at the Perelman School of Medicine at the University of Pennsylvania, an American Society of Hematology member who founded and served as a member of the Global Sickle Cell Disease Network, was a leader in advancing the body of knowledge in SCD research, public health, and medicine and is recognized as immeasurably benefitting thousands of children worldwide; Whereas there are emerging genetic therapy technologies, including 2 therapies approved by the Food and Drug Administration in December of 2023, that can modify a patient's own hematopoietic stem cells to enable them to generate healthy red blood cells to prevent sickle cell crises; Whereas hematopoietic stem cell transplantation (commonly known as ``HSCT'') is currently the only cure for SCD, and while advancements in treatment for complications associated with SCD have been made, more research is needed to find widely available and accessible treatments and cures to help individuals with SCD; and Whereas, although June 19, 2024, has been designated as ``World Sickle Cell Awareness Day'' to increase public awareness across the United States and global community about SCD, there remains a continued need for empirical research, early detection screenings, novel effective treatments leading to a cure, and preventative care programs with respect to complications from sickle cell anemia and conditions relating to SCD: Now, therefore, be it Resolved, That the House of Representatives-- (1) supports the goals and ideals of World Sickle Cell Awareness Day; (2) commits to ensuring equitable access to new sickle cell disease (referred to in this resolution as ``SCD'') treatments by shining the light among all economic, racial, and ethnic groups to improve health outcomes for individuals living with SCD; (3) calls on the Department of Health and Human Services to create global policy solutions aimed at providing support for the global community with respect to SCD and, in partnership with local governments, the domestic resources needed to provide access to newborn screening programs, therapeutic interventions, and support services with respect to SCD; (4) supports eliminating barriers to equitable access to innovative SCD therapies, including cell, gene, and gene- editing therapies in the Medicare and Medicaid systems for the most vulnerable patients; (5) encourages the people of the United States and the world to hold appropriate programs, events, and activities on World Sickle Cell Awareness Day to raise public awareness of SCD traits, preventative-care programs, treatments, and other patient services for those suffering from SCD, complications from SCD, and conditions relating to SCD; (6) encourages the President to form a Sickle Cell Disease Interagency Group, which should include the Department of Health and Human Services, the Department of Veterans Affairs, the National Institutes of Health, the Food and Drug Administration, and the Centers for Medicare & Medicaid Services, to work toward policies that will support equitable and appropriate access to innovative SCD therapies; and (7) with respect to the policies described in paragraph (6), urges the interagency group described in that paragraph to consider options that not only address access to potential future curative treatments for SCD, but also address the bias that the population most affected by SCD continues to face within the United States and global health care systems. <all>

usgpo

2024-06-24T00:12:15.867616

BILLS-118s4314is

DOT Victim and Survivor Advocate Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4314 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4314 To establish the position of National Roadway Safety Advocate within the Department of Transportation, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Lujan introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ A BILL To establish the position of National Roadway Safety Advocate within the Department of Transportation, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``DOT Victim and Survivor Advocate Act''. SEC. 2. POSITION OF NATIONAL ROADWAY SAFETY ADVOCATE. (a) Definitions.--In this section: (1) Department.--The term ``Department'' means the Department of Transportation. (2) Secretary.--The term ``Secretary'' means the Secretary of Transportation. (3) Stakeholder.-- (A) In general.--The term ``stakeholder'' means-- (i) a victim or survivor of a road crash; or (ii) a family member of a victim or survivor of a road crash. (B) Family member.--For purposes of subparagraph (A)(ii), the term ``family member'' shall not be limited to a parent, parent-in-law, grandparent, grandparent-in-law, sibling, spouse, child, or step- child of a victim or survivor of a road crash. (b) Establishment.-- (1) In general.--Not later than 180 days after the date of enactment of this Act, the Secretary shall establish within the Office of the Under Secretary of Transportation for Policy of the Department a position, to be known as the ``National Roadway Safety Advocate''. (2) Career position.--The position of National Roadway Safety Advocate shall be filled by a career appointment. (c) Purposes of the Position.--The purposes of the position of the National Roadway Safety Advocate are-- (1) to document and communicate recommendations from stakeholders to the Secretary on needs, objectives, plans, approaches, content, and accomplishments of the programs and activities carried out by the Department relating to roadway safety; and (2) to serve as a resource and point of contact for stakeholders on relevant roadway safety issues. (d) Authority and Limitations.-- (1) Authority.--The National Roadway Safety Advocate may-- (A) provide-- (i) education on Department activities to stakeholders; and (ii) means for stakeholders to provide the perspective of the stakeholders on roadway safety issues to the Department; (B) explain Department processes, procedures, scientific principles, and technical information to stakeholders in plain language; (C) communicate the perspective of stakeholders within Department processes; (D) provide aggregated feedback on the regulatory agenda and activities of the Department from stakeholders to the Secretary; (E) build relationships with individual stakeholders, through establishing consistent outreach and dialogue for feedback, to enhance the engagement in the mission of the Department; (F) publish educational materials for enhancing stakeholder understanding of activities and procedures of the Department in accessible formats and venues, with clear and easy to understand wording, consistent with Department policy, in multiple languages; (G) consult with and make recommendations to the Secretary relating to the appointment of stakeholders who may be appropriate for roles in advisory roadway safety committees, in accordance with chapter 10 of title 5, United States Code; (H) meet not less frequently than once per quarter with the Secretary to highlight issues, make recommendations for resolving problems and alleviating stakeholder roadway safety concerns, and summarize input from stakeholders on proposed roadway safety initiatives; (I) refer questions to the Office of the General Counsel or the Office of the Under Secretary of Transportation for Policy, as appropriate; (J) work collaboratively with other offices in the Department that are working to educate and communicate with stakeholders on roadway safety issues; and (K) perform such other duties as may be determined by the Secretary. (2) Limitations.--The National Roadway Safety Advocate may not-- (A) provide legal notice, counsel, or determinations of any kind; (B) set or delay any agency deadlines; (C) make Department decisions; (D) create or authorize Department policies, priorities, or activities; (E) modify or interfere with any laws, regulations, related policies, practices, or procedures followed or enforced by the Department; (F) prevent other Department staff from working directly with stakeholders; (G) disclose or discuss any enforcement matters that are under investigation, in litigation, or the subject of a civil penalty investigation or any other pre-litigation or litigation proceeding; or (H) disclose or discuss any human resource matters with individuals outside of the Department. (e) Report to Office of the Under Secretary of Transportation for Policy.--The National Roadway Safety Advocate shall report within the Office of the Under Secretary of Transportation for Policy of the Department. (f) Support.--The Office of the Under Secretary of Transportation for Policy of the Department shall provide necessary funding, logistics, and administrative support to the National Roadway Safety Advocate as necessary. (g) Access to Documents.--The Department shall ensure that the National Roadway Safety Advocate has full and timely access to the documents of the Department, as necessary, to carry out the functions of the National Roadway Safety Advocate. (h) Reports Required.-- (1) Annual report.--Not later than November 15 of each year, the National Roadway Safety Advocate shall submit to the Secretary an annual report-- (A) highlighting systemic issues relating to roadway safety based on information provided by stakeholders; and (B) making recommendations on how to remedy the issues highlighted under subparagraph (A). (2) Additional reports.--In addition to the annual report required under paragraph (1), the National Roadway Safety Advocate may submit to the Secretary such additional reports, as determined necessary by the National Roadway Safety Advocate, in accordance with the requirements of that paragraph. <all>

usgpo

2024-06-24T00:12:19.414992

DCPD-202400501

Remarks at a State Dinner Hosted by President Emmanuel Macron of France in Paris, France

Administration of Joseph R. Biden, Jr., 2024 June 8, 2024 President Macron. Mr. President, dear Joe; Madam First Lady, Dr. Jill Biden. [At this point, President Macron spoke briefly in English as follows.] I want to reassure you, it's just a toast and not a speech—[*laughter*]—so I will be very short. [*President Macron continued in French, and his remarks were translated by an interpreter as follows.*] Ladies and gentlemen, dear friends, my wife and myself are very honored to be hosting you today here at the Élysée with all of your delegation and all of our guests, because every time there is an occasion to celebrate that brings together Americans and French people, the spirit of 1776 is never far, conjuring what is best in both of our countries. These warm feelings borne of a long and deep friendship is further enhanced by the joy today of hosting you today for your first official state visit to France with a very pleasant feeling of déjà vu. Indeed, a year and a half ago, you were hosting me in Washington in December 2022, thus demonstrating through regular visits how close we are in the reciprocal interests of our countries. And this year, 2024, for all people who are attached to the Franco relations—Franco- American relationship, there is something special to celebrate because there is a reciprocal sacrifice for our independence, for our freedom. Indeed, this year, we will celebrate the 200th anniversary of the farewell tour of the Marquis de Lafayette, a hero of the American Revolution. I know that he is close to the hearts of all Americans. We also commemorate the 80th anniversary of the landings in Normandy and in Provence. We stood side by side then, as we did 2 days ago in Normandy for the ceremonies on June 6, to bow our heads in the peaceful cemetery of Colleville to remember their courage on the Omaha Beach—Omaha the bloody—where so many of your countrymen gave their lives for a country they had never been to before. Never will we forget these heroes who, from Normandy to Berlin, helped to free a continent and our country. Their sacrifice has cemented our friendship. Amongst these heroes, there was a young man, Harold Terens. He was 18 when Pearl Harbor happened. At the age of 20, he was a radio operator working with your Air Force. He was at his duty post on D-Day, and then the war led him everywhere in France, in Morocco, and all the way to Ukraine. Today Harold has chosen our country to marry Jeanne Swerlin. They are with us today, and they are just making their marriage vows, so let us congratulate the young newlyweds. We're very pleased to be here for your wedding repast. On this foundation, so many relations have developed—from cinema to music, from literature to space, from energy to transport, agriculture and health—so many partnerships that have served to consolidate our bilateral relationship and that we have further strengthened recently. It's also this relation that make it possible to affirm our values faced with a war of aggression by Russia in Ukraine or today in the Middle East in Gaza, and once again, thank you for the initiative that you have just taken and that we support to be united in spite of our differences when the main values are at stake. This is what is our—lie across the Atlantic. When it comes to defending our values, we stand together, so, of course, there's something a bit special in our relationship, because you are—you're American; we are French. And there's something of a mutual fascination you find from Tocqueville all the way to Miller or, indeed, in our respective film industries. We love the American Dream, and you like the French *art de vivre*, the French lifestyle. And we tend to be maybe defending our singularities, but we love each other for what we are. And this applies to each and every one of us. And when I—we see the affection that you have for France, the way in which you have been prepared to attend the Olympic and Paralympic Games, I can see that more than ever you remain your best allies. United we stand, divided we fall—this is enshrined in the very name of your country. This should be the philosophy that should inspire us, that inspired the Greatest Generation to which you paid tribute yesterday at Pointe du Hoc. And indeed, that is what binds us together today. We are allies. We will remain allies. And these are the values which 80 years down the road keep us together. And this is why, Mr. President, dear Joe, dear Jill, it is such an honor to have you here in France on the occasion of this state visit that is an opportunity to celebrate the untrammeled vitality of our alliance and this very special relationship between our two nations and, indeed, our love for freedom. If I may, I would like to propose a toast to the United States of America, to France, and, indeed, to the friendship between the United States and France. [*President Macron offered a toast.*] President Biden. Mr. President, Brigitte, distinguished guests. You know, one of the things that's been a legend in my family is my middle name is Robinette. And allegedly, I've never—I've been told by my grandfather that this was established—I have not found it yet; maybe someone could help me—that I'm a son of the American Revolution, because Robinette came over with Lafayette and never went home. He stayed in the United States. So that makes me a son of the American Revolution. And—but I haven't been able to establish that yet. So maybe one of your genealogists can figure it out for me. Look, the—your—France is our first ally. And that's not insignificant. The fact of the matter is you were with us to help us secure our freedom, and we were with you 170 years later—— [*President Biden cleared his throat.*] Excuse me—to do the same. And ever since, we've remained united, unyielding, as well as unwavering in our partnership. That's what democracies do. That has been an extraordinary week here for us, for Jill and me. It's just been amazing to be here. I've been here a number of times over the years. I know I don't look it, but I'm only 40 years old. [*Laughter*] But, all kidding aside, been here many times, but this has been the most remarkable trip that I've ever made. Together, we celebrated D-Day, the heroes of D-Day, and told the story of the alliance and how, together, we saved Europe. And the people of France two—and two—and you two, personally, honored our veterans with such warmth and dignity. On behalf of all the American people, we want to say thank you, thank you, thank you from the bottom of our heart. I mean it. When the American troops came to these shores 80 years ago on an audacious mission to save the continent, they each carried a book given to them by the U.S. military. And the book was called "A Pocket Guide to France." Seriously. It included helpful hints like this: "No bragging; the French don't like it." [*Laughter*] Not a joke. "Be generous; it won't hurt you." "Avoid controversial topics, even if you took French in high school." [*Laughter*] And try to follow at least one—I tried my best to follow at least one of those. But you know—and then it said the French are allies who, quote—to quote: "happen to speak democracy in a different language. And we democracies aren't just doing favors; we're fighting for each other when history goes—gets through. We all are in the same boat," end of quote. France and the United States have always been there for one another. We stand together when the going gets tough, and that's a fact. We stand together to defend the values that lie at the soul, the very soul of both our nations, and I believe that to be the case today: liberty, equality, brotherhood. Generation after generation, people across both our nations have upheld these ideals because they know, when we stand as one, our countries are stronger and, literally, the world is safer. Emmanuel, you've heard me say it before. We stand at an inflection point in history. The decisions we make now will determine the course of our future for decades to come. We have a lot of opportunity, but a lot of responsibility. And it gives me hope to know France and the United States stand together now and always, or as the "Pocket Guide to France" given to the invading Americans might say, "We're rowing in the same boat." Ladies and gentlemen, to France, the United States, and to our people, may we continue to seek democracy. May we—in both our languages. And may we always stay together. It's been a great honor to be here. And I want to thank you. I'm going to raise my glass. [*President Biden offered a toast.*] To France. NOTE: The President spoke at approximately 8:20 p.m. at the Élysée Palace. In his remarks, he referred to Brigitte Macron, wife of President Macron. President Macron referred to Lake Worth, FL, residents Harold Terens and Jeanne Swerlin. Categories: Meetings With Foreign Leaders and International Officials : France, President Macron. Locations: Paris, France. Names: Biden, Jill T.; Macron, Brigitte; Macron, Emmanuel. Subjects: D-Day, 80th anniversary; France, President; France, President Biden's visit; France, relations with U.S. DCPD Number: DCPD202400501.

usgpo

2024-06-24T00:12:22.974369

BILLS-118hr8773rh

Financial Services and General Government Appropriations Act, 2025

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8773 Reported in House (RH)] <DOC> Union Calendar No. 459 118th CONGRESS 2d Session H. R. 8773 [Report No. 118-556] Making appropriations for financial services and general government for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 17, 2024 Mr. Joyce of Ohio, from the Committee on Appropriations, reported the following bill; which was committed to the Committee of the Whole House on the State of the Union and ordered to be printed _______________________________________________________________________ A BILL Making appropriations for financial services and general government for the fiscal year ending September 30, 2025, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the following sums are appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2025, and for other purposes, namely: TITLE I DEPARTMENT OF THE TREASURY Departmental Offices salaries and expenses For necessary expenses of the Departmental Offices including operation and maintenance of the Treasury Building and Freedman's Bank Building; hire of passenger motor vehicles; maintenance, repairs, and improvements of, and purchase of commercial insurance policies for, real properties leased or owned overseas, when necessary for the performance of official business; executive direction program activities; international affairs and economic policy activities; domestic finance and tax policy activities, including technical assistance to State, local, and territorial entities; and Treasury-wide management policies and programs activities, $244,424,000, of which not less than $9,000,000 shall be available for the administration of financial assistance, in addition to amounts otherwise available for such purposes: Provided, That of the amount appropriated under this heading-- (1) not to exceed $350,000 is for official reception and representation expenses; (2) not to exceed $258,000 is for unforeseen emergencies of a confidential nature to be allocated and expended under the direction of the Secretary of the Treasury and to be accounted for solely on the Secretary's certificate; and (3) not to exceed $34,000,000 shall remain available until September 30, 2026, for-- (A) the Treasury-wide Financial Statement Audit and Internal Control Program; (B) information technology modernization requirements; (C) the audit, oversight, and administration of the Gulf Coast Restoration Trust Fund; (D) the development and implementation of programs within the Office of Cybersecurity and Critical Infrastructure Protection, including entering into cooperative agreements; (E) operations and maintenance of facilities; and (F) international operations. committee on foreign investment in the united states fund (including transfer of funds) For necessary expenses of the Committee on Foreign Investment in the United States, $21,000,000, to remain available until expended: Provided, That the chairperson of the Committee may transfer such amounts to any department or agency represented on the Committee (excluding the Department of the Treasury) subject to advance notification to the Committees on Appropriations of the House of Representatives and the Senate: Provided further, That amounts so transferred shall remain available until expended for expenses of implementing section 721 of the Defense Production Act of 1950, (50 U.S.C. 4565), and shall be available in addition to any other funds available to any department or agency: Provided further, That fees authorized by section 721(p) of such Act shall be credited to this appropriation as offsetting collections: Provided further, That the total amount appropriated under this heading from the general fund shall be reduced as such offsetting collections are received during fiscal year 2025, so as to result in a total appropriation from the general fund estimated at not more than $0. office of terrorism and financial intelligence salaries and expenses For the necessary expenses of the Office of Terrorism and Financial Intelligence to safeguard the financial system against illicit use and to combat rogue nations, terrorist facilitators, weapons of mass destruction proliferators, human rights abusers, money launderers, drug kingpins, and other national security threats, $230,533,000, of which not less than $3,000,000 shall be available for addressing human rights violations and corruption, including activities authorized by the Global Magnitsky Human Rights Accountability Act (22 U.S.C. 2656 note): Provided, That of the amounts appropriated under this heading, up to $16,000,000 shall remain available until September 30, 2026. cybersecurity enhancement account For salaries and expenses for enhanced cybersecurity for systems operated by the Department of the Treasury, $99,000,000, to remain available until September 30, 2027: Provided, That such funds shall supplement and not supplant any other amounts made available to the Treasury offices and bureaus for cybersecurity: Provided further, That of the total amount made available under this heading, $7,000,000 shall be available for administrative expenses for the Treasury Chief Information Officer to provide oversight of the investments made under this heading: Provided further, That such funds shall supplement and not supplant any other amounts made available to the Treasury Chief Information Officer. department-wide systems and capital investments programs (including transfer of funds) For development and acquisition of automatic data processing equipment, software, and services and for repairs and renovations to buildings owned by the Department of the Treasury, $9,400,000, to remain available until September 30, 2027: Provided, That these funds shall be transferred to accounts and in amounts as necessary to satisfy the requirements of the Department's offices, bureaus, and other organizations: Provided further, That this transfer authority shall be in addition to any other transfer authority provided in this Act: Provided further, That none of the funds appropriated under this heading shall be used to support or supplement ``Internal Revenue Service, Operations Support'' or ``Internal Revenue Service, Business Systems Modernization''. office of inspector general salaries and expenses For necessary expenses of the Office of Inspector General in carrying out the provisions of chapter 4 of title 5, United States Code, $47,887,000, including hire of passenger motor vehicles; of which not to exceed $100,000 shall be available for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Inspector General of the Treasury; of which up to $2,800,000 to remain available until September 30, 2026, shall be for audits and investigations conducted pursuant to section 1608 of the Resources and Ecosystems Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 (33 U.S.C. 1321 note); and of which not to exceed $1,000 shall be available for official reception and representation expenses. treasury inspector general for tax administration salaries and expenses For necessary expenses of the Treasury Inspector General for Tax Administration in carrying out chapter 4 of title 5, United States Code, including purchase and hire of passenger motor vehicles (31 U.S.C. 1343(b)); and services authorized by 5 U.S.C. 3109, at such rates as may be determined by the Inspector General for Tax Administration; $170,000,000, of which $5,000,000 shall remain available until September 30, 2026; of which not to exceed $6,000,000 shall be available for official travel expenses; of which not to exceed $500,000 shall be available for unforeseen emergencies of a confidential nature, to be allocated and expended under the direction of the Inspector General for Tax Administration; and of which not to exceed $1,500 shall be available for official reception and representation expenses. Financial Crimes Enforcement Network salaries and expenses For necessary expenses of the Financial Crimes Enforcement Network, including hire of passenger motor vehicles; travel and training expenses of non-Federal and foreign government personnel to attend meetings and training concerned with domestic and foreign financial intelligence activities, law enforcement, and financial regulation; services authorized by 5 U.S.C. 3109; not to exceed $25,000 for official reception and representation expenses; and for assistance to Federal law enforcement agencies, with or without reimbursement, $170,193,000, of which not to exceed $55,000,000 shall remain available until September 30, 2027. Bureau of the Fiscal Service salaries and expenses For necessary expenses of operations of the Bureau of the Fiscal Service, $343,511,000; of which not to exceed $8,000,000, to remain available until September 30, 2027, is for information systems modernization initiatives; and of which $5,000 shall be available for official reception and representation expenses. In addition, $225,000, to be derived from the Oil Spill Liability Trust Fund to reimburse administrative and personnel expenses for financial management of the Fund, as authorized by section 1012 of Public Law 101-380. Alcohol and Tobacco Tax and Trade Bureau salaries and expenses For necessary expenses of carrying out section 1111 of the Homeland Security Act of 2002, including hire of passenger motor vehicles, $158,506,000; of which not to exceed $6,000 shall be available for official reception and representation expenses; and of which not to exceed $50,000 shall be available for cooperative research and development programs for laboratory services; and provision of laboratory assistance to State and local agencies with or without reimbursement: Provided, That of the amount appropriated under this heading, $5,000,000 shall be for the costs of accelerating the processing of formula and label applications: Provided further, That of the amount appropriated under this heading, $5,000,000, to remain available until September 30, 2026, shall be for the costs associated with enforcement of and education regarding the trade practice provisions of the Federal Alcohol Administration Act (27 U.S.C. 201 et seq.). United States Mint united states mint public enterprise fund Pursuant to section 5136 of title 31, United States Code, the United States Mint is provided funding through the United States Mint Public Enterprise Fund for costs associated with the production of circulating coins, numismatic coins, and protective services, including both operating expenses and capital investments: Provided, That the aggregate amount of new liabilities and obligations incurred during fiscal year 2025 under such section 5136 for circulating coinage and protective service capital investments of the United States Mint shall not exceed $50,000,000. Community Development Financial Institutions Fund Program Account To carry out the Riegle Community Development and Regulatory Improvement Act of 1994 (subtitle A of title I of Public Law 103-325), including services authorized by section 3109 of title 5, United States Code, but at rates for individuals not to exceed the per diem rate equivalent to the rate for EX-III, $276,600,000. Of the amount appropriated under this heading-- (1) not less than $170,000,000, notwithstanding section 108(e) of Public Law 103-325 (12 U.S.C. 4707(e)) with regard to Small and/or Emerging Community Development Financial Institutions Assistance awards, is available until September 30, 2026, for financial assistance and technical assistance under subparagraphs (A) and (B) of section 108(a)(1), respectively, of Public Law 103-325 (12 U.S.C. 4707(a)(1)(A) and (B)), of which up to $1,600,000 may be available for training and outreach under section 109 of Public Law 103-325 (12 U.S.C. 4708), of which up to $3,153,750 may be used for the cost of direct loans, of which up to $10,000,000, notwithstanding subsection (d) of section 108 of Public Law 103-325 (12 U.S.C. 4707(d)), may be available to provide financial assistance, technical assistance, training, and outreach to community development financial institutions to expand investments that benefit individuals with disabilities: Provided, That the cost of direct and guaranteed loans, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That these funds are available to subsidize gross obligations for the principal amount of direct loans not to exceed $25,000,000: Provided further, That of the funds provided under this paragraph, excluding those made to community development financial institutions to expand investments that benefit individuals with disabilities and those made to community development financial institutions that serve populations living in persistent poverty counties, the Community Development Financial Institutions Fund shall prioritize Financial Assistance awards to organizations that invest and lend in high-poverty areas: Provided further, That for purposes of this section, the term ``high-poverty area'' means any census tract with a poverty rate of at least 20 percent as measured by the 2016-2020 five-year data series available from the American Community Survey of the Bureau of the Census for all States and Puerto Rico or with a poverty rate of at least 20 percent as measured by the 2010 Island areas Decennial Census data for any territory or possession of the United States; (2) not less than $35,000,000, notwithstanding section 108(e) of Public Law 103-325 (12 U.S.C. 4707(e)), is available until September 30, 2026, for financial assistance, technical assistance, training, and outreach programs designed to benefit Native American, Native Hawaiian, and Alaska Native communities and provided primarily through qualified community development lender organizations with experience and expertise in community development banking and lending in Indian country, Native American organizations, Tribes and Tribal organizations, and other suitable providers; (3) not less than $35,000,000 is available until September 30, 2026, for the Bank Enterprise Award program; (4) not less than $3,000,000 is available until September 30, 2026, to provide grants for loan loss reserve funds and to provide technical assistance for small dollar loan programs under section 122 of Public Law 103-325 (12 U.S.C. 4719): Provided, That sections 108(d) and 122(b)(2) of such Public Law shall not apply to the provision of such grants and technical assistance; (5) up to $33,600,000 is available for administrative expenses, including administration of Community Development Financial Institutions Fund programs and the New Markets Tax Credit Program, of which not less than $1,000,000 is for the development of tools to better assess and inform Community Development Financial Institutions investment performance and Community Development Financial Institutions program impacts, and up to $300,000 is for administrative expenses to carry out the direct loan program; and (6) during fiscal year 2025, none of the funds available under this heading are available for the cost, as defined in section 502 of the Congressional Budget Act of 1974, of commitments to guarantee bonds and notes under section 114A of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4713a): Provided, That commitments to guarantee bonds and notes under such section 114A shall not exceed $500,000,000: Provided further, That such section 114A shall remain in effect until December 31, 2026: Provided further, That of the funds awarded under this heading, not less than 10 percent shall be used for awards that support investments that serve populations living in persistent poverty counties: Provided further, That for the purposes of this paragraph and paragraph (1), the term ``persistent poverty counties'' means any county, including county equivalent areas in Puerto Rico, that has had 20 percent or more of its population living in poverty over the past 30 years, as measured by the 1990 and 2000 decennial censuses and the 2016- 2020 five-year data series available from the American Community Survey of the Bureau of the Census or any other territory or possession of the United States that has had 20 percent or more of its population living in poverty over the past 30 years, as measured by the 1990, 2000 and 2010 Island Areas Decennial Censuses, or equivalent data, of the Bureau of the Census. Internal Revenue Service taxpayer services For necessary expenses of the Internal Revenue Service to provide taxpayer services, including pre-filing assistance and education, filing and account services, taxpayer advocacy services, and other services as authorized by 5 U.S.C. 3109, at such rates as may be determined by the Commissioner, $2,780,606,000, of which not to exceed $100,000,000 shall remain available until September 30, 2026, of which not less than $13,000,000 shall be for the Tax Counseling for the Elderly Program, of which not less than $30,000,000, to remain available until September 30, 2026 shall be available for low-income taxpayer clinic grants, including grants to individual clinics of up to $200,000, of which not less than $45,000,000, to remain available until September 30, 2026, shall be available for the Community Volunteer Income Tax Assistance Matching Grants Program for tax return preparation assistance, and of which not less than $291,200,000 shall be available for operating expenses of the Taxpayer Advocate Service: Provided, That of the amounts made available for the Taxpayer Advocate Service, not less than $7,000,000 shall be for identity theft and refund fraud casework. enforcement For necessary expenses for tax enforcement activities of the Internal Revenue Service to determine and collect owed taxes, to provide legal and litigation support, to conduct criminal investigations, to enforce criminal statutes related to violations of internal revenue laws and other financial crimes, to purchase and hire passenger motor vehicles (31 U.S.C. 1343(b)), and to provide other services as authorized by 5 U.S.C. 3109, at such rates as may be determined by the Commissioner, $3,437,622,000; of which not to exceed $250,000,000 shall remain available until September 30, 2026; of which not less than $65,257,000 shall be for the Interagency Crime and Drug Enforcement program; and of which not to exceed $35,000,000 shall be for investigative technology for the Criminal Investigation Division: Provided, That the amount made available for investigative technology for the Criminal Investigation Division shall be in addition to amounts made available for the Criminal Investigation Division under the ``Operations Support'' heading. operations support For necessary expenses to operate the Internal Revenue Service to support taxpayer services and enforcement programs, including rent payments; facilities services; printing; postage; physical security; headquarters and other IRS-wide administration activities; research and statistics of income; telecommunications; information technology development, enhancement, operations, maintenance and security; the hire of passenger motor vehicles (31 U.S.C. 1343(b)); the operations of the Internal Revenue Service Oversight Board; and other services as authorized by 5 U.S.C. 3109, at such rates as may be determined by the Commissioner; $3,750,826,000, of which not to exceed $275,000,000 shall remain available until September 30, 2026; of which not to exceed $10,000,000 shall remain available until expended for acquisition of equipment and construction, repair and renovation of facilities; of which not to exceed $1,000,000 shall remain available until September 30, 2027, for research; and of which not to exceed $20,000 shall be for official reception and representation expenses: Provided, That not later than 30 days after the end of each quarter, the Internal Revenue Service shall submit a report to the Committees on Appropriations of the House of Representatives and the Senate and the Comptroller General of the United States detailing major information technology investments in the Internal Revenue Service Integrated Modernization Business Plan portfolio, including detailed, plain language summaries on the status of plans, costs, and results; prior results and actual expenditures of the prior quarter; upcoming deliverables and costs for the fiscal year; risks and mitigation strategies associated with ongoing work; reasons for any cost or schedule variances; and total expenditures by fiscal year: Provided further, That the Internal Revenue Service shall include, in its budget justification for fiscal year 2026, a summary of cost and schedule performance information for its major information technology systems. business systems modernization For necessary expenses of the Internal Revenue Service's business systems modernization program, $150,000,000, to remain available until September 30, 2027, and shall be for the capital asset acquisition of information technology systems, including management and related contractual costs of said acquisitions, including related Internal Revenue Service labor costs, and contractual costs associated with operations authorized by 5 U.S.C. 3109: Provided, That not later than 30 days after the end of each quarter, the Internal Revenue Service shall submit a report to the Committees on Appropriations of the House of Representatives and the Senate and the Comptroller General of the United States detailing major information technology investments in the Internal Revenue Service Integrated Modernization Business Plan portfolio, including detailed, plain language summaries on the status of plans, costs, and results; prior results and actual expenditures of the prior quarter; upcoming deliverables and costs for the fiscal year; risks and mitigation strategies associated with ongoing work; reasons for any cost or schedule variances; and total expenditures by fiscal year. administrative provisions--internal revenue service (including transfer of funds) Sec. 101. Not to exceed 5 percent of an appropriation in this Act made available to the Internal Revenue Service may be transferred to any other Internal Revenue Service appropriation upon the advance approval of the Committee: Provided, That, no funds may be transferred to ``Enforcement''. Sec. 102. The Internal Revenue Service shall maintain an employee training program, which shall include the following topics: taxpayers' rights, dealing courteously with taxpayers, cross-cultural relations, ethics, and the impartial application of tax law. Sec. 103. The Internal Revenue Service shall institute and enforce policies and procedures that will safeguard the confidentiality of taxpayer information and protect taxpayers against identity theft. Sec. 104. Funds made available by this or any other Act to the Internal Revenue Service shall be available for improved facilities and increased staffing to provide sufficient and effective 1-800 help line service for taxpayers. The Commissioner shall continue to make improvements to the Internal Revenue Service 1-800 help line service a priority and allocate resources necessary to enhance the response time to taxpayer communications, particularly with regard to victims of tax- related crimes. Sec. 105. The Internal Revenue Service shall issue a notice of confirmation of any address change relating to an employer making employment tax payments, and such notice shall be sent to both the employer's former and new address and an officer or employee of the Internal Revenue Service shall give special consideration to an offer- in-compromise from a taxpayer who has been the victim of fraud by a third party payroll tax preparer. Sec. 106. None of the funds made available under this Act may be used by the Internal Revenue Service to target citizens of the United States for exercising any right guaranteed under the First Amendment to the Constitution of the United States. Sec. 107. None of the funds made available in this Act may be used by the Internal Revenue Service to target groups for regulatory scrutiny based on their ideological beliefs. Sec. 108. None of funds made available by this Act to the Internal Revenue Service shall be obligated or expended on conferences that do not adhere to the procedures, verification processes, documentation requirements, and policies issued by the Chief Financial Officer, Human Capital Office, and Agency-Wide Shared Services as a result of the recommendations in the report published on May 31, 2013, by the Treasury Inspector General for Tax Administration entitled ``Review of the August 2010 Small Business/Self-Employed Division's Conference in Anaheim, California'' (Reference Number 2013-10-037). Sec. 109. None of the funds made available in this Act to the Internal Revenue Service may be obligated or expended-- (1) to make a payment to any employee under a bonus, award, or recognition program; or (2) under any hiring or personnel selection process with respect to re-hiring a former employee; unless such program or process takes into account the conduct and Federal tax compliance of such employee or former employee. Sec. 110. None of the funds made available by this Act may be used in contravention of section 6103 of the Internal Revenue Code of 1986 (relating to confidentiality and disclosure of returns and return information). Sec. 111. The Secretary of the Treasury (or the Secretary's delegate) may use the funds made available in this Act, subject to such policies as the Secretary (or the Secretary's delegate) may establish, to utilize direct hire authority to recruit and appoint qualified applicants, without regard to any notice or preference requirements, directly to positions in the competitive service to process backlogged tax returns and return information. Sec. 112. Notwithstanding section 1344 of title 31, United States Code, funds appropriated to the Internal Revenue Service in this Act may be used to provide passenger carrier transportation and protection between the Commissioner of Internal Revenue's residence and place of employment. Sec. 113. None of the funds made available by this or any other Act may be used to develop or provide taxpayers a free, public electronic return-filing service option, without the prior approval of the Committees on Appropriations of the House and the Senate, House Ways and Means Committee, and Senate Finance Committee. Sec. 114. None of the funds in this Act may be used to purchase firearms or ammunition for the Internal Revenue Service above the levels in the possession of the Internal Revenue Service on December 22, 2022. Administrative Provisions--Department of the Treasury (including transfers of funds) Sec. 115. Appropriations to the Department of the Treasury in this Act shall be available for uniforms or allowances therefor, as authorized by law (5 U.S.C. 5901), including maintenance, repairs, and cleaning; purchase of insurance for official motor vehicles operated in foreign countries; purchase of motor vehicles without regard to the general purchase price limitations for vehicles purchased and used overseas for the current fiscal year; entering into contracts with the Department of State for the furnishing of health and medical services to employees and their dependents serving in foreign countries; and services authorized by 5 U.S.C. 3109. Sec. 116. Not to exceed 2 percent of any appropriations in this title made available under the headings ``Departmental Offices-- Salaries and Expenses'', ``Office of Inspector General'', ``Financial Crimes Enforcement Network'', ``Bureau of the Fiscal Service'', and ``Alcohol and Tobacco Tax and Trade Bureau'' may be transferred between such appropriations upon the advance approval of the Committees on Appropriations of the House of Representatives and the Senate: Provided, That no transfer under this section may increase or decrease any such appropriation by more than 2 percent. Sec. 117. Not to exceed 2 percent of any appropriation made available in this Act to the Internal Revenue Service may be transferred to the Treasury Inspector General for Tax Administration's appropriation upon the advance approval of the Committees on Appropriations of the House of Representatives and the Senate: Provided, That no transfer may increase or decrease any such appropriation by more than 2 percent. Sec. 118. None of the funds appropriated in this Act or otherwise available to the Department of the Treasury or the Bureau of Engraving and Printing may be used to redesign the $1 Federal Reserve note. Sec. 119. The Secretary of the Treasury may transfer funds from the ``Bureau of the Fiscal Service--Salaries and Expenses'' to the Debt Collection Fund as necessary to cover the costs of debt collection: Provided, That such amounts shall be reimbursed to such salaries and expenses account from debt collections received in the Debt Collection Fund. Sec. 120. None of the funds appropriated or otherwise made available by this or any other Act may be used by the United States Mint to construct or operate any museum without the explicit approval of the Committees on Appropriations of the House of Representatives and the Senate, the House Committee on Financial Services, and the Senate Committee on Banking, Housing, and Urban Affairs. Sec. 121. None of the funds appropriated or otherwise made available by this or any other Act or source to the Department of the Treasury, the Bureau of Engraving and Printing, and the United States Mint, individually or collectively, may be used to consolidate any or all functions of the Bureau of Engraving and Printing and the United States Mint without the explicit approval of the House Committee on Financial Services; the Senate Committee on Banking, Housing, and Urban Affairs; and the Committees on Appropriations of the House of Representatives and the Senate. Sec. 122. Funds appropriated by this Act, or made available by the transfer of funds in this Act, for the Department of the Treasury's intelligence or intelligence related activities are deemed to be specifically authorized by the Congress for purposes of section 504 of the National Security Act of 1947 (50 U.S.C. 414) during fiscal year 2025 until the enactment of the Intelligence Authorization Act for Fiscal Year 2025. Sec. 123. Not to exceed $5,000 shall be made available from the Bureau of Engraving and Printing's Industrial Revolving Fund for necessary official reception and representation expenses. Sec. 124. The Secretary of the Treasury shall submit a Capital Investment Plan to the Committees on Appropriations of the House of Representatives and the Senate not later than 30 days following the submission of the annual budget submitted by the President: Provided, That such Capital Investment Plan shall include capital investment spending from all accounts within the Department of the Treasury, including but not limited to the Department-wide Systems and Capital Investment Programs account, Treasury Franchise Fund account, and the Treasury Forfeiture Fund account: Provided further, That such Capital Investment Plan shall include expenditures occurring in previous fiscal years for each capital investment project that has not been fully completed. Sec. 125. During fiscal year 2025-- (1) none of the funds made available in this or any other Act may be used by the Department of the Treasury, including the Internal Revenue Service, to issue, revise, or finalize any regulation, revenue ruling, or other guidance not limited to a particular taxpayer relating to the standard which is used to determine whether an organization is operated exclusively for the promotion of social welfare for purposes of section 501(c)(4) of the Internal Revenue Code of 1986 (including the proposed regulations published at 78 Fed. Reg. 71535 (November 29, 2013)); and (2) the standard and definitions as in effect on January 1, 2010, which are used to make such determinations shall apply after the date of the enactment of this Act for purposes of determining status under section 501(c)(4) of such Code of organizations created on, before, or after such date. Sec. 126. Within 45 days after the date of enactment of this Act, the Secretary of the Treasury shall submit an itemized report to the Committees on Appropriations of the House of Representatives and the Senate on the amount of total funds charged to each office by the Franchise Fund including the amount charged for each service provided by the Franchise Fund to each office, a detailed description of the services, a detailed explanation of how each charge for each service is calculated, and a description of the role customers have in governing in the Franchise Fund. Sec. 127. (a) Not later than 60 days after the end of each quarter, the Office of Financial Research shall submit reports on the activities of the Office to the Committees on Appropriations of the House of Representatives and the Senate, the Committee on Financial Services of the House of Representatives, and the Senate Committee on Banking, Housing, and Urban Affairs. (b) The reports required under subsection (a) shall include-- (1) the obligations made during the previous quarter by object class, office, and activity; (2) the estimated obligations for the remainder of the fiscal year by object class, office, and activity; (3) the number of full-time equivalents within each office during the previous quarter; (4) the estimated number of full-time equivalents within each office for the remainder of the fiscal year; and (5) actions taken to achieve the goals, objectives, and performance measures of each office. (c) At the request of any such Committees specified in subsection (a), the Office of Financial Research shall make officials available to testify on the contents of the reports required under subsection (a). Sec. 128. In addition to amounts otherwise available, there is appropriated to the Special Inspector General for Pandemic Recovery, $5,000,000, to remain available until expended, for necessary expenses in carrying out section 4018 of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116-136). Sec. 129. None of the funds made available in this Act may be used to approve, license, facilitate, authorize, or otherwise allow, whether by general or specific license, travel-related or other transactions incident to non-educational exchanges described in section 515.565(b) of title 31, Code of Federal Regulations. Sec. 130. The Secretary of the Treasury and the Secretary of Homeland Security shall provide a joint report not later than 90 days after the enactment of this Act regarding travel pursuant to sections 515.565(b), 515.560(a)(1), 515.560(c)(4)(i), and 515.561 of title 31, Code of Federal Regulations. Sec. 131. None of the funds made available by this Act may be used by the Department of the Treasury to design, build, develop, or establish a United States Central Bank Digital Currency or discontinue circulation or use of paper currency as legal tender in the United States. Sec. 132. None of the funds made available by this Act may be used by the Financial Crimes Enforcement Network to implement or enforce beneficial ownership reporting rules pursuant to division F of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2020 (Public Law 116-283) that have been found by a Federal court to be unconstitutional or do not reflect Congressional intent, including reporting rules for small businesses and homeowners associations. Sec. 133. None of the funds made available by this Act may be used to finalize, implement, or enforce the rulemaking entitled, ``Exchange of Coin'' (89 Fed. Reg. 36721 (May 3, 2024)). Sec. 134. None of the funds made available by this Act may be used to implement or enforce the rule relating to ``Coronavirus State and Local Fiscal Recovery Funds'' (88 Fed. Reg. 80584 (November 20, 2023)) or any substantially similar rule. Sec. 135. None of the funds made available by this Act may be used by the Federal Insurance Office to implement, administer, or enforce subsection (e)(6) of section 313 of title 31, United States Code. Additionally, none of the funds made available by this Act may be used by the Office of Financial Research to implement, administer, or enforce section 5343(f) of title 12, United States Code. Sec. 136. None of the funds made available by this Act may be used to establish with the Department of Treasury an advisory committee with respect to any environmental, social, or governance matter. Sec. 137. Amounts made available under section 601(f)(3) of the Social Security Act (42 U.S.C. 801(f)(3)) shall be available for any necessary expenses of the Department of the Treasury Office of Inspector General with respect to section 601 of that Act, subtitle A of title V of division N of the Consolidated Appropriations Act, 2021, and section 3201 of the American Rescue Plan Act of 2021, in addition to amounts otherwise available for such purposes. Sec. 138. None of the funds made available by this Act may be used to carry out amendments published on May 29, 2024, with respect to sections 515.340, 515.570, 515.582, and 515.584 of title 31, Code of Federal Regulations. Sec. 139. None of the funds appropriated or otherwise made available by this Act may be used for bonuses, pay raises, or official travel by political appointees at the Office of Foreign Assets Control of the Department of the Treasury until the Office adds-- (1) all entities on the list, on the date of the enactment of this Act, of Chinese military companies produced by the Department of Defense in accordance with section 1260H of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (10 U.S.C. 113 note) to the Non-SDN Chinese Military-Industrial Complex Companies List (NS-CMIC List), that are not already on the NS-CMIC List; and (2) all subsidiaries and affiliates on the date of the enactment of this Act of companies on the NS-CMIC List, including of any entity added to such list pursuant to paragraph (1), to the NS-CMIC List. This title may be cited as the ``Department of the Treasury Appropriations Act, 2025''. TITLE II EXECUTIVE OFFICE OF THE PRESIDENT AND FUNDS APPROPRIATED TO THE PRESIDENT The White House salaries and expenses For necessary expenses for the White House as authorized by law, including not to exceed $3,850,000 for services as authorized by 5 U.S.C. 3109 and 3 U.S.C. 105; subsistence expenses as authorized by 3 U.S.C. 105, which shall be expended and accounted for as provided in that section; hire of passenger motor vehicles, and travel (not to exceed $100,000 to be expended and accounted for as provided by 3 U.S.C. 103); and not to exceed $19,000 for official reception and representation expenses, to be available for allocation within the Executive Office of the President; and for necessary expenses of the Office of Policy Development, including services as authorized by 5 U.S.C. 3109 and 3 U.S.C. 107, $60,000,000. Executive Residence at the White House operating expenses For necessary expenses of the Executive Residence at the White House, $15,000,000, to be expended and accounted for as provided by 3 U.S.C. 105, 109, 110, and 112-114. reimbursable expenses For the reimbursable expenses of the Executive Residence at the White House, such sums as may be necessary: Provided, That all reimbursable operating expenses of the Executive Residence shall be made in accordance with the provisions of this paragraph: Provided further, That, notwithstanding any other provision of law, such amount for reimbursable operating expenses shall be the exclusive authority of the Executive Residence to incur obligations and to receive offsetting collections, for such expenses: Provided further, That the Executive Residence shall require each person sponsoring a reimbursable political event to pay in advance an amount equal to the estimated cost of the event, and all such advance payments shall be credited to this account and remain available until expended: Provided further, That the Executive Residence shall require the national committee of the political party of the President to maintain on deposit $25,000, to be separately accounted for and available for expenses relating to reimbursable political events sponsored by such committee during such fiscal year: Provided further, That the Executive Residence shall ensure that a written notice of any amount owed for a reimbursable operating expense under this paragraph is submitted to the person owing such amount within 60 days after such expense is incurred, and that such amount is collected within 30 days after the submission of such notice: Provided further, That the Executive Residence shall charge interest and assess penalties and other charges on any such amount that is not reimbursed within such 30 days, in accordance with the interest and penalty provisions applicable to an outstanding debt on a United States Government claim under 31 U.S.C. 3717: Provided further, That each such amount that is reimbursed, and any accompanying interest and charges, shall be deposited in the Treasury as miscellaneous receipts: Provided further, That the Executive Residence shall prepare and submit to the Committees on Appropriations of the House of Representatives and the Senate, by not later than 90 days after the end of the fiscal year covered by this Act, a report setting forth the reimbursable operating expenses of the Executive Residence during the preceding fiscal year, including the total amount of such expenses, the amount of such total that consists of reimbursable official and ceremonial events, the amount of such total that consists of reimbursable political events, and the portion of each such amount that has been reimbursed as of the date of the report: Provided further, That the Executive Residence shall maintain a system for the tracking of expenses related to reimbursable events within the Executive Residence that includes a standard for the classification of any such expense as political or nonpolitical: Provided further, That no provision of this paragraph may be construed to exempt the Executive Residence from any other applicable requirement of subchapter I or II of chapter 37 of title 31, United States Code. White House Repair and Restoration For the repair, alteration, and improvement of the Executive Residence at the White House pursuant to 3 U.S.C. 105(d), $2,475,000, to remain available until expended, for required maintenance, resolution of safety and health issues, and continued preventative maintenance. Council of Economic Advisers salaries and expenses For necessary expenses of the Council of Economic Advisers in carrying out its functions under the Employment Act of 1946 (15 U.S.C. 1021 et seq.), $4,200,000. National Security Council and Homeland Security Council salaries and expenses For necessary expenses of the National Security Council and the Homeland Security Council, including services as authorized by 5 U.S.C. 3109, $12,500,000, of which not to exceed $10,000 shall be available for official reception and representation expenses. Office of Administration salaries and expenses For necessary expenses of the Office of Administration, including services as authorized by 5 U.S.C. 3109 and 3 U.S.C. 107, and hire of passenger motor vehicles, $106,500,000, of which not to exceed $12,800,000 shall remain available until expended for continued modernization of information resources within the Executive Office of the President: Provided, That of the amounts provided under this heading, up to $7,000,000 shall be available for a program to provide payments (such as stipends, subsistence allowances, cost reimbursements, or awards) to students, recent graduates, and veterans recently discharged from active duty who are performing voluntary services in the Executive Office of the President under section 3111(b) of title 5, United States Code, or comparable authority and shall be in addition to amounts otherwise available to pay or compensate such individuals: Provided further, That such payments shall not be considered compensation for purposes of such section 3111(b) and may be paid in advance. Office of Management and Budget salaries and expenses For necessary expenses of the Office of Management and Budget, including hire of passenger motor vehicles and services as authorized by 5 U.S.C. 3109, to carry out the provisions of chapter 35 of title 44, United States Code, and to prepare and submit the budget of the United States Government, in accordance with section 1105(a) of title 31, United States Code, $126,000,000, of which not to exceed $3,000 shall be available for official representation expenses: Provided, That none of the funds appropriated in this Act for the Office of Management and Budget may be used for the purpose of reviewing any agricultural marketing orders or any activities or regulations under the provisions of the Agricultural Marketing Agreement Act of 1937 (7 U.S.C. 601 et seq.): Provided further, That none of the funds made available for the Office of Management and Budget by this Act may be expended for the altering of the transcript of actual testimony of witnesses, except for testimony of officials of the Office of Management and Budget, before the Committees of the House of Representatives and the Senate on Appropriations or their subcommittees: Provided further, That none of the funds made available for the Office of Management and Budget by this Act may be expended for the altering of the annual work plan developed by the Corps of Engineers for submission to the Committees on Appropriations: Provided further, That none of the funds provided in this or prior Acts shall be used, directly or indirectly, by the Office of Management and Budget, for evaluating or determining if water resource project or study reports submitted by the Chief of Engineers acting through the Secretary of the Army are in compliance with all applicable laws, regulations, and requirements relevant to the Civil Works water resource planning process: Provided further, That the Office of Management and Budget shall have not more than 60 days in which to perform budgetary policy reviews of water resource matters on which the Chief of Engineers has reported: Provided further, That the Director of the Office of Management and Budget shall notify the appropriate authorizing and appropriating committees when the 60-day review is initiated: Provided further, That if water resource reports have not been transmitted to the appropriate authorizing and appropriating committees within 15 days after the end of the Office of Management and Budget review period based on the notification from the Director, Congress shall assume Office of Management and Budget concurrence with the report and act accordingly: Provided further, That no later than 14 days after the submission of the budget of the United States Government for fiscal year 2026, the Director of the Office of Management and Budget shall make publicly available on a website a tabular list for each agency that submits budget justification materials (as defined in section 3 of the Federal Funding Accountability and Transparency Act of 2006) that shall include, at minimum, the name of the agency, the date on which the budget justification materials of the agency were submitted to Congress, and a uniform resource locator where the budget justification materials are published on the website of the agency. Intellectual Property Enforcement Coordinator For necessary expenses of the Office of the Intellectual Property Enforcement Coordinator, as authorized by title III of the Prioritizing Resources and Organization for Intellectual Property Act of 2008 (Public Law 110-403), including services authorized by 5 U.S.C. 3109, $1,838,000. Office of the National Cyber Director salaries and expenses For necessary expenses of the Office of the National Cyber Director, as authorized by section 1752 of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283), $19,126,000, of which not to exceed $5,000 shall be available for official reception and representation expenses. Office of National Drug Control Policy salaries and expenses For necessary expenses of the Office of National Drug Control Policy; for research activities pursuant to the Office of National Drug Control Policy Reauthorization Act of 1998, as amended; not to exceed $10,000 for official reception and representation expenses; and for participation in joint projects or in the provision of services on matters of mutual interest with nonprofit, research, or public organizations or agencies, with or without reimbursement, $19,000,000: Provided, That the Office is authorized to accept, hold, administer, and utilize gifts, both real and personal, public and private, without fiscal year limitation, for the purpose of aiding or facilitating the work of the Office. federal drug control programs high intensity drug trafficking areas program (including transfers of funds) For necessary expenses of the Office of National Drug Control Policy's High Intensity Drug Trafficking Areas Program, $299,600,000, to remain available until September 30, 2026, for drug control activities consistent with the approved strategy for each of the designated High Intensity Drug Trafficking Areas (``HIDTAs''), of which not less than 51 percent shall be transferred to State and local entities for drug control activities and shall be obligated not later than 120 days after enactment of this Act: Provided, That up to 49 percent may be transferred to Federal agencies and departments in amounts determined by the Director of the Office of National Drug Control Policy, of which up to $4,000,000 may be used for auditing services and associated activities and $1,500,000 shall be for the Grants Management System for use by the Office of National Drug Control Policy: Provided further, That any unexpended funds obligated prior to fiscal year 2023 may be used for any other approved activities of that HIDTA, subject to reprogramming requirements: Provided further, That each HIDTA designated as of September 30, 2024, shall be funded at not less than the fiscal year 2024 base level, unless the Director submits to the Committees on Appropriations of the House of Representatives and the Senate justification for changes to those levels based on clearly articulated priorities and published Office of National Drug Control Policy performance measures of effectiveness: Provided further, That the Director shall notify the Committees on Appropriations of the initial allocation of fiscal year 2025 funding among HIDTAs not later than 45 days after enactment of this Act, and shall notify the Committees of planned uses of discretionary HIDTA funding, as determined in consultation with the HIDTA Directors, not later than 90 days after enactment of this Act: Provided further, That upon a determination that all or part of the funds so transferred from this appropriation are not necessary for the purposes provided herein and upon notification to the Committees on Appropriations of the House of Representatives and the Senate, such amounts may be transferred back to this appropriation. other federal drug control programs (including transfers of funds) For other drug control activities authorized by the Anti-Drug Abuse Act of 1988 and the Office of National Drug Control Policy Reauthorization Act of 1998, as amended, $134,950,000, to remain available until expended, which shall be available as follows: $109,000,000 for the Drug-Free Communities Program, of which not more than $12,780,000 is for administrative expenses, and of which $2,500,000 shall be made available as directed by section 4 of Public Law 107-82, as amended by section 8204 of Public Law 115-271; $3,000,000 for drug court training and technical assistance; $14,000,000 for anti-doping activities; up to $2,500,000 for the United States membership dues to the World Anti-Doping Agency; $1,250,000 for the Model Acts Program; and $5,200,000 for activities authorized by section 103 of Public Law 114-198: Provided, That amounts made available under this heading may be transferred to other Federal departments and agencies to carry out such activities: Provided further, That the Director of the Office of National Drug Control Policy shall, not fewer than 30 days prior to obligating funds under this heading for United States membership dues to the World Anti-Doping Agency, submit to the Committees on Appropriations of the House of Representatives and the Senate a spending plan and explanation of the proposed uses of these funds. Unanticipated Needs For expenses necessary to enable the President to meet unanticipated needs, in furtherance of the national interest, security, or defense which may arise at home or abroad during the current fiscal year, as authorized by 3 U.S.C. 108, $990,000, to remain available until September 30, 2025. Information Technology Oversight and Reform (including transfer of funds) For necessary expenses for the furtherance of integrated, efficient, secure, and effective uses of information technology in the Federal Government, $8,000,000, to remain available until expended: Provided, That the Director of the Office of Management and Budget may transfer these funds to one or more other agencies to carry out projects to meet these purposes. Special Assistance to the President salaries and expenses For necessary expenses to enable the Vice President to provide assistance to the President in connection with specially assigned functions; services as authorized by 5 U.S.C. 3109 and 3 U.S.C. 106, including subsistence expenses as authorized by 3 U.S.C. 106, which shall be expended and accounted for as provided in that section; and hire of passenger motor vehicles, $5,000,000. Official Residence of the Vice President operating expenses (including transfer of funds) For the care, operation, refurnishing, improvement, and to the extent not otherwise provided for, heating and lighting, including electric power and fixtures, of the official residence of the Vice President; the hire of passenger motor vehicles; and not to exceed $90,000 pursuant to 3 U.S.C. 106(b)(2), $315,000: Provided, That advances, repayments, or transfers from this appropriation may be made to any department or agency for expenses of carrying out such activities. Administrative Provisions--Executive Office Of the President and Funds Appropriated to the President (including transfer of funds) Sec. 201. From funds made available in this Act under the headings ``The White House'', ``Executive Residence at the White House'', ``White House Repair and Restoration'', ``Council of Economic Advisers'', ``National Security Council and Homeland Security Council'', ``Office of Administration'', ``Special Assistance to the President'', and ``Official Residence of the Vice President'', the Director of the Office of Management and Budget (or such other officer as the President may designate in writing), may, with advance approval of the Committees on Appropriations of the House of Representatives and the Senate, transfer not to exceed 10 percent of any such appropriation to any other such appropriation, to be merged with and available for the same time and for the same purposes as the appropriation to which transferred: Provided, That the amount of an appropriation shall not be increased by more than 50 percent by such transfers: Provided further, That no amount shall be transferred from ``Special Assistance to the President'' or ``Official Residence of the Vice President'' without the approval of the Vice President. Sec. 202. (a) During fiscal year 2025, any Executive order or Presidential memorandum issued or revoked by the President shall be accompanied by a written statement from the Director of the Office of Management and Budget on the budgetary impact, including costs, benefits, and revenues, of such order or memorandum. (b) Any such statement shall include-- (1) a narrative summary of the budgetary impact of such order or memorandum on the Federal Government; (2) the impact on mandatory and discretionary obligations and outlays as the result of such order or memorandum, listed by Federal agency, for each year in the 5-fiscal-year period beginning in fiscal year 2025; and (3) the impact on revenues of the Federal Government as the result of such order or memorandum over the 5-fiscal-year period beginning in fiscal year 2025. (c) If an Executive order or Presidential memorandum is issued during fiscal year 2025 due to a national emergency, the Director of the Office of Management and Budget may issue the statement required by subsection (a) not later than 15 days after the date that such order or memorandum is issued. (d) The requirement for cost estimates for Presidential memoranda shall only apply for Presidential memoranda estimated to have a regulatory cost in excess of $100,000,000. Sec. 203. Not later than 30 days after the date of enactment of this Act, the Director of the Office of Management and Budget shall issue a memorandum to all Federal departments, agencies, and corporations directing compliance with the provisions in title VII of this Act. Sec. 204. None of the funds made available by this Act may be used to develop or implement guidance related to the valuation of ecosystem and environmental services and natural assets in Federal regulatory decision-making, as directed by Executive Order No. 14072 of April 22, 2022 (87 Fed. Reg. 24851, relating to strengthening the Nation's forests, communities, and local economies). Sec. 205. None of the funds made available by this Act may be used to implement the proposed revisions, published on April 6, 2023, to OMB Circular A-4. This title may be cited as the ``Executive Office of the President Appropriations Act, 2025''. TITLE III THE JUDICIARY Supreme Court of the United States salaries and expenses For expenses necessary for the operation of the Supreme Court, as required by law, excluding care of the building and grounds, including purchase and hire of passenger motor vehicles as authorized by 31 U.S.C. 1343 and 1344; not to exceed $10,000 for official reception and representation expenses; and for miscellaneous expenses, to be expended as the Chief Justice may approve, $136,000,000, of which $1,500,000 shall remain available until expended. In addition, there are appropriated such sums as may be necessary under current law for the salaries of the chief justice and associate justices of the court. care of the building and grounds For such expenditures as may be necessary to enable the Architect of the Capitol to carry out the duties imposed upon the Architect by 40 U.S.C. 6111 and 6112 under the direction of the Chief Justice, $13,506,000, to remain available until expended. United States Court of Appeals for the Federal Circuit salaries and expenses For salaries of officers and employees, and for necessary expenses of the court, as authorized by law, $37,500,000. In addition, there are appropriated such sums as may be necessary under current law for the salaries of the chief judge and judges of the court. United States Court of International Trade salaries and expenses For salaries of officers and employees of the court, services, and necessary expenses of the court, as authorized by law, $21,700,000. In addition, there are appropriated such sums as may be necessary under current law for the salaries of the chief judge and judges of the court. Courts of Appeals, District Courts, and Other Judicial Services salaries and expenses For the salaries of judges of the United States Court of Federal Claims, magistrate judges, and all other officers and employees of the Federal Judiciary not otherwise specifically provided for, necessary expenses of the courts, and the purchase, rental, repair, and cleaning of uniforms for Probation and Pretrial Services Office staff, as authorized by law, $6,106,841,000 (including the purchase of firearms and ammunition); of which not to exceed $27,817,000 shall remain available until expended for space alteration projects and for furniture and furnishings related to new space alteration and construction projects. In addition, there are appropriated such sums as may be necessary under current law for the salaries of circuit and district judges (including judges of the territorial courts of the United States), bankruptcy judges, and justices and judges retired from office or from regular active service. In addition, for expenses of the United States Court of Federal Claims associated with processing cases under the National Childhood Vaccine Injury Act of 1986 (Public Law 99-660), not to exceed $11,686,000, to be appropriated from the Vaccine Injury Compensation Trust Fund. defender services For the operation of Federal Defender organizations; the compensation and reimbursement of expenses of attorneys appointed to represent persons under 18 U.S.C. 3006A and 3599, and for the compensation and reimbursement of expenses of persons furnishing investigative, expert, and other services for such representations as authorized by law; the compensation (in accordance with the maximums under 18 U.S.C. 3006A) and reimbursement of expenses of attorneys appointed to assist the court in criminal cases where the defendant has waived representation by counsel; the compensation and reimbursement of expenses of attorneys appointed to represent jurors in civil actions for the protection of their employment, as authorized by 28 U.S.C. 1875(d)(1); the compensation and reimbursement of expenses of attorneys appointed under 18 U.S.C. 983(b)(1) in connection with certain judicial civil forfeiture proceedings; the compensation and reimbursement of travel expenses of guardians ad litem appointed under 18 U.S.C. 4100(b); and for necessary training and general administrative expenses, $1,500,000,000, to remain available until expended. fees of jurors and commissioners For fees and expenses of jurors as authorized by 28 U.S.C. 1871 and 1876; compensation of jury commissioners as authorized by 28 U.S.C. 1863; and compensation of commissioners appointed in condemnation cases pursuant to rule 71.1(h) of the Federal Rules of Civil Procedure (28 U.S.C. Appendix Rule 71.1(h)), $38,555,000, to remain available until expended: Provided, That the compensation of land commissioners shall not exceed the daily equivalent of the highest rate payable under 5 U.S.C. 5332. court security (including transfer of funds) For necessary expenses, not otherwise provided for, incident to the provision of protective guard services for United States courthouses and other facilities housing Federal court or Administrative Office of the United States Courts operations, the procurement, installation, and maintenance of security systems and equipment for United States courthouses and other facilities housing Federal court or Administrative Office of the United States Courts operations, building ingress-egress control, inspection of mail and packages, directed security patrols, perimeter security, basic security services provided by the Federal Protective Service, and other similar activities as authorized by section 1010 of the Judicial Improvement and Access to Justice Act (Public Law 100-702), $777,361,000, of which not to exceed $20,000,000 shall remain available until expended, to be expended directly or transferred to the United States Marshals Service, which shall be responsible for administering the Judicial Facility Security Program consistent with standards or guidelines agreed to by the Director of the Administrative Office of the United States Courts and the Attorney General: Provided, That funds made available under this heading may be used for managing a Judiciary-wide program to facilitate security and emergency management services among the Judiciary, United States Marshals Service, Federal Protective Service, General Services Administration, other Federal agencies, state and local governments and the public; and for purposes authorized by the Daniel Anderl Judicial Security and Privacy Act of 2022 (Public Law 117-263, division C, title LIX, subtitle D) and 28 U.S.C. 604(a)(24). Administrative Office of the United States Courts salaries and expenses For necessary expenses of the Administrative Office of the United States Courts as authorized by law, including travel as authorized by 31 U.S.C. 1345, hire of a passenger motor vehicle as authorized by 31 U.S.C. 1343(b), advertising and rent in the District of Columbia and elsewhere, $104,578,000, of which not to exceed $8,500 is authorized for official reception and representation expenses. Federal Judicial Center salaries and expenses For necessary expenses of the Federal Judicial Center, as authorized by Public Law 90-219, $34,837,000; of which $1,800,000 shall remain available through September 30, 2026, to provide education and training to Federal court personnel; and of which not to exceed $1,500 is authorized for official reception and representation expenses. United States Sentencing Commission salaries and expenses For the salaries and expenses necessary to carry out the provisions of chapter 58 of title 28, United States Code, $22,050,000, of which not to exceed $1,000 is authorized for official reception and representation expenses. Administrative Provisions--the Judiciary (including transfer of funds) Sec. 301. Appropriations and authorizations made in this title which are available for salaries and expenses shall be available for services as authorized by 5 U.S.C. 3109. Sec. 302. Not to exceed 5 percent of any appropriation made available for the current fiscal year for the Judiciary in this Act may be transferred between such appropriations, but no such appropriation, except ``Courts of Appeals, District Courts, and Other Judicial Services, Defender Services'' and ``Courts of Appeals, District Courts, and Other Judicial Services, Fees of Jurors and Commissioners'', shall be increased by more than 10 percent by any such transfers: Provided, That any transfer pursuant to this section shall be treated as a reprogramming of funds under sections 604 and 608 of this Act and shall not be available for obligation or expenditure except in compliance with the procedures set forth in section 608. Sec. 303. Notwithstanding any other provision of law, the salaries and expenses appropriation for ``Courts of Appeals, District Courts, and Other Judicial Services'' shall be available for official reception and representation expenses of the Judicial Conference of the United States: Provided, That such available funds shall not exceed $11,000 and shall be administered by the Director of the Administrative Office of the United States Courts in the capacity as Secretary of the Judicial Conference. Sec. 304. Section 3315(a) of title 40, United States Code, shall be applied by substituting ``Federal'' for ``executive'' each place it appears. Sec. 305. In accordance with 28 U.S.C. 561-569, and notwithstanding any other provision of law, the United States Marshals Service shall provide, for such courthouses as its Director may designate in consultation with the Director of the Administrative Office of the United States Courts, for purposes of a pilot program, the security services that 40 U.S.C. 1315 authorizes the Department of Homeland Security to provide, except for the services specified in 40 U.S.C. 1315(b)(2)(E). For building-specific security services at these courthouses, the Director of the Administrative Office of the United States Courts shall reimburse the United States Marshals Service rather than the Department of Homeland Security. Sec. 306. (a) Section 203(c) of the Judicial Improvements Act of 1990 (Public Law 101-650; 28 U.S.C. 133 note), is amended in the matter following paragraph 12- (1) in the second sentence (relating to the District of Kansas), by striking ``33 years and 6 months'' and inserting ``34 years and 6 months''; and (2) in the sixth sentence (relating to the District of Hawaii), by striking ``30 years and 6 months'' and inserting ``31 years and 6 months''. (b) Section 406 of the Transportation, Treasury, Housing and Urban Development, the Judiciary, the District of Columbia, and Independent Agencies Appropriations Act, 2006 (Public Law 109-115; 119 Stat. 2470; 28 U.S.C. 133 note) is amended in the second sentence (relating to the eastern District of Missouri) by striking ``31 years and 6 months'' and inserting ``32 years and 6 months''. (c) Section 312(c)(2) of the 21st Century Department of Justice Appropriations Authorization Act (Public Law 107-273; 28 U.S.C. 133 note), is amended-- (1) in the first sentence by striking ``22 years'' and inserting ``23 years''; (2) in the second sentence (relating to the central District of California), by striking ``21 years and 6 months'' and inserting ``22 years and 6 months''; and (3) in the third sentence (relating to the western district of North Carolina), by striking ``20 years'' and inserting ``21 years''. This title may be cited as the ``Judiciary Appropriations Act, 2025''. TITLE IV DISTRICT OF COLUMBIA Federal Funds federal payment for resident tuition support For a Federal payment to the District of Columbia, to be deposited into a dedicated account, for a nationwide program to be administered by the Mayor, for District of Columbia resident tuition support, $20,000,000, to remain available until expended: Provided, That such funds, including any interest accrued thereon, may be used on behalf of eligible District of Columbia residents to pay an amount based upon the difference between in-State and out-of-State tuition at public institutions of higher education, or to pay up to $2,500 each year at eligible private institutions of higher education: Provided further, That the awarding of such funds may be prioritized on the basis of a resident's academic merit, the income and need of eligible students and such other factors as may be authorized: Provided further, That the District of Columbia government shall maintain a dedicated account for the Resident Tuition Support Program that shall consist of the Federal funds appropriated to the Program in this Act and any subsequent appropriations, any unobligated balances from prior fiscal years, and any interest earned in this or any fiscal year: Provided further, That the account shall be under the control of the District of Columbia Chief Financial Officer, who shall use those funds solely for the purposes of carrying out the Resident Tuition Support Program: Provided further, That the Office of the Chief Financial Officer shall provide a quarterly financial report to the Committees on Appropriations of the House of Representatives and the Senate for these funds showing, by object class, the expenditures made and the purpose therefor. federal payment for emergency planning and security costs in the district of columbia For a Federal payment of necessary expenses, as determined by the Mayor of the District of Columbia in written consultation with the elected county or city officials of surrounding jurisdictions, $77,000,000, to remain available until expended, for the costs of providing public safety at events related to the presence of the National Capital in the District of Columbia, including support requested by the Director of the United States Secret Service in carrying out protective duties under the direction of the Secretary of Homeland Security, and for the costs of providing support to respond to immediate and specific terrorist threats or attacks in the District of Columbia or surrounding jurisdictions: Provided, That, of the amount provided under this heading in this Act, up to $47,000,000 shall be used for costs associated with the Presidential Inauguration held in January 2025. federal payment to the district of columbia courts For salaries and expenses for the District of Columbia Courts, including the transfer and hire of motor vehicles, $300,000,000 to be allocated as follows: for the District of Columbia Court of Appeals, $15,283,000, of which not to exceed $2,500 is for official reception and representation expenses; for the Superior Court of the District of Columbia, $142,571,000, of which not to exceed $2,500 is for official reception and representation expenses; for the District of Columbia Court System, $91,896,000, of which not to exceed $2,500 is for official reception and representation expenses; and $50,250,000, to remain available until September 30, 2026, for capital improvements for District of Columbia courthouse facilities: Provided, That funds made available for capital improvements shall be expended consistent with the District of Columbia Courts master plan study and facilities condition assessment: Provided further, That, in addition to the amounts appropriated herein, fees received by the District of Columbia Courts for administering bar examinations and processing District of Columbia bar admissions may be retained and credited to this appropriation, to remain available until expended, for salaries and expenses associated with such activities, notwithstanding section 450 of the District of Columbia Home Rule Act (D.C. Official Code, sec. 1- 204.50): Provided further, That notwithstanding any other provision of law, all amounts under this heading shall be apportioned quarterly by the Office of Management and Budget and obligated and expended in the same manner as funds appropriated for salaries and expenses of other Federal agencies: Provided further, That 30 days after providing written notice to the Committees on Appropriations of the House of Representatives and the Senate, the District of Columbia Courts may reallocate not more than $9,000,000 of the funds provided under this heading among the items and entities funded under this heading: Provided further, That the Joint Committee on Judicial Administration in the District of Columbia may, by regulation, establish a program substantially similar to the program set forth in subchapter II of chapter 35 of title 5, United States Code, for employees of the District of Columbia Courts. federal payment for defender services in district of columbia courts (including rescission of funds) For payments authorized under section 11-2604 and section 11-2605, D.C. Official Code (relating to representation provided under the District of Columbia Criminal Justice Act), payments for counsel appointed in proceedings in the Family Court of the Superior Court of the District of Columbia under chapter 23 of title 16, D.C. Official Code, or pursuant to contractual agreements to provide guardian ad litem representation, training, technical assistance, and such other services as are necessary to improve the quality of guardian ad litem representation, payments for counsel appointed in adoption proceedings under chapter 3 of title 16, D.C. Official Code, and payments authorized under section 21-2060, D.C. Official Code (relating to services provided under the District of Columbia Guardianship, Protective Proceedings, and Durable Power of Attorney Act of 1986), $46,005,000, to remain available until expended: Provided, That funds provided under this heading shall be administered by the Joint Committee on Judicial Administration in the District of Columbia: Provided further, That, notwithstanding any other provision of law, this appropriation shall be apportioned quarterly by the Office of Management and Budget and obligated and expended in the same manner as funds appropriated for expenses of other Federal agencies: Provided further, That of the unobligated balances from prior year appropriations made available under this heading, $12,000,000, are hereby rescinded not later than September 30, 2025. federal payment to the court services and offender supervision agency for the district of columbia For salaries and expenses, including the transfer and hire of motor vehicles, of the Court Services and Offender Supervision Agency for the District of Columbia, as authorized by the National Capital Revitalization and Self-Government Improvement Act of 1997, $295,000,000, of which not to exceed $2,000 is for official reception and representation expenses related to Community Supervision and Pretrial Services Agency programs, and of which not to exceed $25,000 is for dues and assessments relating to the implementation of the Court Services and Offender Supervision Agency Interstate Supervision Act of 2002: Provided, That, of the funds appropriated under this heading, $208,034,000 shall be for necessary expenses of Community Supervision and Sex Offender Registration, to include expenses relating to the supervision of adults subject to protection orders or the provision of services for or related to such persons, of which up to $4,253,000 shall remain available until September 30, 2027, for costs associated with the relocation under replacement leases for headquarters offices, field offices, and related facilities: Provided further, That, of the funds appropriated under this heading, $86,966,000 shall be available to the Pretrial Services Agency, of which up to $2,503,000 shall remain available until September 30, 2027, for costs associated with relocation under a replacement lease for headquarters offices, field offices, and related facilities: Provided further, That notwithstanding any other provision of law, all amounts under this heading shall be apportioned quarterly by the Office of Management and Budget and obligated and expended in the same manner as funds appropriated for salaries and expenses of other Federal agencies: Provided further, That amounts under this heading may be used for programmatic incentives for defendants to successfully complete their terms of supervision. federal payment to the district of columbia public defender service For salaries and expenses, including the transfer and hire of motor vehicles, of the District of Columbia Public Defender Service, as authorized by the National Capital Revitalization and Self-Government Improvement Act of 1997, $59,000,000: Provided, That notwithstanding any other provision of law, all amounts under this heading shall be apportioned quarterly by the Office of Management and Budget and obligated and expended in the same manner as funds appropriated for salaries and expenses of Federal agencies: Provided further, That the District of Columbia Public Defender Service may establish for employees of the District of Columbia Public Defender Service a program substantially similar to the program set forth in subchapter II of chapter 35 of title 5, United States Code, except that the maximum amount of the payment made under the program to any individual may not exceed the amount referred to in section 3523(b)(3)(B) of title 5, United States Code: Provided further, That for the purposes of engaging with, and receiving services from, Federal Franchise Fund Programs established in accordance with section 403 of the Government Management Reform Act of 1994, as amended, the District of Columbia Public Defender Service shall be considered an agency of the United States Government: Provided further, That the District of Columbia Public Defender Service may enter into contracts for the procurement of severable services and multiyear contracts for the acquisition of property and services to the same extent and under the same conditions as an executive agency under sections 3902 and 3903 of title 41, United States Code. federal payment to the criminal justice coordinating council For a Federal payment to the Criminal Justice Coordinating Council, $2,450,000, to remain available until expended, to support initiatives related to the coordination of Federal and local criminal justice resources in the District of Columbia. federal payment for judicial commissions For a Federal payment, to remain available until September 30, 2026, to the Commission on Judicial Disabilities and Tenure, $330,000, and for the Judicial Nomination Commission, $300,000. federal payment for school improvement For a Federal payment for a school improvement program in the District of Columbia, $55,500,000, to remain available until expended, for payments authorized under the Scholarships for Opportunity and Results Act (division C of Public Law 112-10): Provided, That, to the extent that funds are available for opportunity scholarships and following the priorities included in section 3006 of such Act, the Secretary of Education shall make scholarships available to students eligible under section 3013(3) of such Act (Public Law 112-10; 125 Stat. 211) including students who were not offered a scholarship during any previous school year: Provided further, That within funds provided for opportunity scholarships, up to $1,750,000 shall be for the activities specified in sections 3007(b) through 3007(d) of the Act and up to $500,000 shall be for the activities specified in section 3009 of the Act. federal payment for the district of columbia national guard For a Federal payment to the District of Columbia National Guard, $600,000, to remain available until expended for the Major General David F. Wherley, Jr. District of Columbia National Guard Retention and College Access Program. federal payment for testing and treatment of hiv/aids For a Federal payment to the District of Columbia for the testing of individuals for, and the treatment of individuals with, human immunodeficiency virus and acquired immunodeficiency syndrome in the District of Columbia, $4,000,000. federal payment to the district of columbia water and sewer authority For a Federal payment to the District of Columbia Water and Sewer Authority, $8,000,000, to remain available until expended, to continue implementation of the Combined Sewer Overflow Long-Term Plan: Provided, That the District of Columbia Water and Sewer Authority provides a 100 percent match for this payment. district of columbia funds Local funds are appropriated for the District of Columbia for the current fiscal year out of the General Fund of the District of Columbia (``General Fund'') for programs and activities set forth under the heading ``District of Columbia Budget for the Fiscal Year ending September 30, 2025'' and at the rate set forth under such heading, as included in the Fiscal Year 2025 Local Budget Act of 2024 submitted to Congress by the District of Columbia, as amended as of the date of enactment of this Act: Provided, That notwithstanding any other provision of law, except as provided in section 450A of the District of Columbia Home Rule Act (section 1-204.50a, D.C. Official Code), sections 816 and 817 of the Financial Services and General Government Appropriations Act, 2009 (secs. 47-369.01 and 47-369.02, D.C. Official Code), and provisions of this Act, the total amount appropriated in this Act for operating expenses for the District of Columbia for fiscal year 2025 under this heading shall not exceed the estimates included in the Fiscal Year 2025 Budget Request Act of 2024 submitted to Congress by the District of Columbia, as amended as of the date of enactment of this Act or the sum of the total revenues of the District of Columbia for such fiscal year: Provided further, That the amount appropriated may be increased by proceeds of one-time transactions, which are expended for emergency or unanticipated operating or capital needs: Provided further, That such increases shall be approved by enactment of local District law and shall comply with all reserve requirements contained in the District of Columbia Home Rule Act: Provided further, That the Chief Financial Officer of the District of Columbia shall take such steps as are necessary to assure that the District of Columbia meets these requirements, including the apportioning by the Chief Financial Officer of the appropriations and funds made available to the District during fiscal year 2025, except that the Chief Financial Officer may not reprogram for operating expenses any funds derived from bonds, notes, or other obligations issued for capital projects. This title may be cited as the ``District of Columbia Appropriations Act, 2025''. TITLE V INDEPENDENT AGENCIES Administrative Conference of the United States salaries and expenses For necessary expenses of the Administrative Conference of the United States, authorized by 5 U.S.C. 591 et seq., $3,430,000, to remain available until September 30, 2026, of which not to exceed $1,000 is for official reception and representation expenses. Consumer Financial Protection Bureau salaries and expenses For necessary expenses to carry out the authorities of the Consumer Financial Protection Bureau, $650,000,000 to remain available until expended. administrative provisions--consumer financial protection bureau Sec. 500. Section 1017 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5497) is amended-- (1) in subsection (a)-- (A) by amending the heading of such subsection to read as follows: ``BUDGET, FINANCIAL MANAGEMENT, AND AUDIT.--''; (B) by striking paragraphs (1), (2), and (3); (C) by redesignating paragraphs (4) and (5) as paragraphs (1) and (2), respectively; and (D) by striking subparagraphs (E) and (F) of paragraph (1), as so redesignated; (2) by striking subsections (b) and (c); (3) by redesignating subsections (d) and (e) as subsections (b) and (c), respectively; and (4) in subsection (c), as so redesignated-- (A) by striking paragraphs (1), (2), and (3) and inserting the following: -- ``(1) AUTHORIZATION of appropriations.--There is authorized to be appropriated to the Bureau $650,000,000 for fiscal year 2025 to carry out the authorities of the Bureau.''; and (B) by redesignating paragraph (4) as paragraph (2). Sec. 501. (a) In General.--The Consumer Financial Protection Act of 2010 (12 U.S.C. 5481 et seq.) is amended-- (1) in section 1011--- (A) in subsection (a)-- (i) by striking ``in the Federal Reserve System,''; and (ii) by striking ``independent bureau'' and inserting ``independent agency''; (B) by striking subsections (b), (c), and (d); (C) by redesignating subsection (e) as subsection (j); (D) in subsection (j), as so redesignated, by striking ``, including in cities in which the Federal reserve banks, or branches of such banks, are located,''; and (E) by inserting after subsection (a) the following new subsections: ``(b) AUTHORITY TO PRESCRIBE REGULATIONS.--The commission of the Bureau may prescribe such regulations and issue such orders in accordance with this title as the Bureau may determine to be necessary for carrying out this title and all other laws within the Bureau's jurisdiction and shall exercise any authorities granted under this title and all other laws within the Bureau's jurisdiction. ``(c) COMPOSITION OF THE COMMISSION.-- ``(1) IN GENERAL.--The management of the Bureau shall be vested in a commission, which shall be composed of 5 members who shall be appointed by the President, by and with the advice and consent of the Senate, and at least 2 of whom shall have private sector experience in the provision of consumer financial products and services. ``(2) STAGGERING.--The members of the commission shall serve staggered terms, which initially shall be established by the President for terms of 1, 2, 3, 4, and 5 years, respectively. ``(3) TERMS.-- ``(A) IN general.--Except with respect to the initial staggered terms described under paragraph (2), each member of the commission, including the Chair, shall serve for a term of 5 years. ``(B) REMOVAL.--The President may remove any member of the commission for inefficiency, neglect of duty, or malfeasance in office. ``(C) VACANCIES.--Any member of the commission appointed to fill a vacancy occurring before the expiration of the term to which that member's predecessor was appointed (including the Chair) shall be appointed only for the remainder of the term. ``(D) CONTINUATION of service.--Each member of the commission may continue to serve after the expiration of the term of office to which that member was appointed until a successor has been appointed by the President and confirmed by the Senate, except that a member may not continue to serve more than 1 year after the date on which the term of that member would otherwise expire. ``(E) OTHER employment prohibited.--No member of the commission shall engage in any other business, vocation, or employment. ``(d) AFFILIATION.--Not more than three members of the commission shall be members of any one political party. ``(e) CHAIR OF THE COMMISSION.-- ``(1) INITIAL CHAIR.--The first member and Chair of the commission shall be the individual serving as Director of the Bureau of Consumer Financial Protection on the day before the date of the enactment of this subsection. Such individual shall serve until the President has appointed all 5 members of the commission in accordance with subsection (c). ``(2) SUBSEQUENT CHAIR.--Of the 5 members appointed in accordance with subsection (c), the President shall appoint 1 member to serve as the subsequent Chair of the commission. ``(3) AUTHORITY.--The Chair shall be the principal executive officer of the commission, and shall exercise all of the executive and administrative functions of the commission, including with respect to-- ``(A) the appointment and supervision of personnel employed under the commission (other than personnel employed regularly and full time in the immediate offices of members of the commission other than the Chair); ``(B) the distribution of business among personnel appointed and supervised by the Chair and among administrative units of the commission; and ``(C) the use and expenditure of funds. ``(4) LIMITATION.--In carrying out any of the Chair's functions under the provisions of this subsection, the Chair shall be governed by general policies of the commission and by such regulatory decisions, findings, and determinations as the commission may by law be authorized to make. ``(5) REQUESTS OR ESTIMATES RELATED TO APPROPRIATIONS.--Requests or estimates for regular, supplemental, or deficiency appropriations on behalf of the commission may not be submitted by the Chair without the prior approval of the commission. ``(6) DESIGNATION.--The Chair shall be known as both the `Chair of the commission' of the Bureau and the `Chair of the Bureau'. ``(f) INITIAL QUORUM ESTABLISHED.--For the 6 month period beginning on the date of enactment of this subsection, the first member and Chair of the commission described under subsection (e)(1) shall constitute a quorum for the transaction of business until the President has appointed all 5 members of the commission in accordance with subsection (c). Following such appointment of 5 members, the quorum requirements of subsection (g) shall apply. ``(g) NO IMPAIRMENT BY REASON OF VACANCIES.--No vacancy in the members of the commission after the establishment of an initial quorum under subsection (f) shall impair the right of the remaining members of the commission to exercise all the powers of the commission. Three members of the commission shall constitute a quorum for the transaction of business, except that if there are only 3 members serving on the commission because of vacancies in the commission, 2 members of the commission shall constitute a quorum for the transaction of business. If there are only 2 members serving on the commission because of vacancies in the commission, 2 members shall constitute a quorum for the 6-month period beginning on the date of the vacancy which caused the number of commission members to decline to 2. ``(h) SEAL.--The Bureau shall have an official seal. ``(i) COMPENSATION.-- ``(1) CHAIR.--The Chair shall receive compensation at the rate prescribed for level I of the Executive Schedule under section 5313 of title 5, United States Code. ``(2) OTHER MEMBERS OF THE COMMISSION.--The 4 other members of the commission shall each receive compensation at the rate prescribed for level II of the Executive Schedule under section 5314 of title 5, United States Code.''; (2) in section 1012(c)-- (A) in the heading, by striking ``AUTONOMY OF THE BUREAU'' and inserting ``COORDINATION WITH THE BOARD OF GOVERNORS''; (B) by striking ``(1) COORDINATION WITH THE BOARD OF GOVERNORS.--''; and (C) by striking paragraphs (2), (3), (4), and (5); and (3) in section 1014(b), by striking ``Not fewer than 6 members shall be appointed upon the recommendation of the regional Federal Reserve Bank Presidents, on a rotating basis.'' and inserting ``Not fewer than half of all members shall have private sector experience in the provision of consumer financial products and services.''. (b) DEEMING OF NAME.--Any reference in a law, regulation, document, paper, or other record of the United States to the Director of the Bureau of Consumer Financial Protection, except in subsection (e)(1) of section 1011 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5491), as added by this Act, shall be deemed a reference to the commission leading and governing the Bureau of Consumer Financial Protection, as described under section 1011 of the Consumer Financial Protection Act of 2010. (c) CONFORMING AMENDMENTS.-- (1) CONSUMER FINANCIAL PROTECTION ACT OF 2010.-- (A) IN general.--Except as provided under subparagraph (B), the Consumer Financial Protection Act of 2010 (12 U.S.C. 5481 et seq.) is amended-- (i) by striking ``Director of the Bureau'' each place such term appears, other than where such term is used to refer to a Director other than the Director of the Bureau of Consumer Financial Protection, and inserting ``Bureau''; (ii) by striking ``Director'' each place such term appears and inserting ``Bureau'', other than where such term is used to refer to a Director other than the Director of the Bureau of Consumer Financial Protection; and (iii) in section 1002, by striking paragraph (10). (B) EXCEPTIONS.-- (i) IN general.--The Consumer Financial Protection Act of 2010 (12 U.S.C. 5481 et seq.) is amended-- (I) in section 1013(c)(3)-- (aa) by striking ``Assistant Director of the Bureau for'' and inserting ``Head of the Office of''; and (bb) in subparagraph (B), by striking ``Assistant Director'' and inserting ``Head of the Office''; (II) in section 1013(g)(2)-- (aa) by striking ``ASSISTANT DIRECTOR'' and inserting ``HEAD OF THE OFFICE''; and (bb) by striking ``an assistant director'' and inserting ``a Head of the Office of Financial Protection for Older Americans''; (III) in section 1016(a), by striking ``Director of the Bureau'' and inserting ``Chair of the Bureau''; and (IV) by striking section 1066. (ii) CLERICAL amendment.--The table of contents for the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by striking the item relating to section 1066. (2) DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT.--The Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5301 et seq.) is amended-- (A) in section 111(b)(1)(D), by striking ``Director'' and inserting ``Chair''; and (B) in section 1447, by striking ``Director of the Bureau'' each place such term appears and inserting ``Chair of the Bureau''. (3) ELECTRONIC FUND TRANSFER ACT.--Section 921(a)(4)(C) of the Electronic Fund Transfer Act (15 U.S.C. 1693o-2(a)(4)(C)), as added by section 1075(a)(2) of the Consumer Financial Protection Act of 2010, is amended by striking ``Director of the Bureau of Consumer Financial Protection'' and inserting ``Chair of the Bureau of Consumer Financial Protection''. (4) EXPEDITED FUNDS AVAILABILITY ACT.--The Expedited Funds Availability Act (12 U.S.C. 4001 et seq.) is amended by striking ``Director of the Bureau'' each place such term appears and inserting ``Bureau''. (5) FEDERAL DEPOSIT INSURANCE ACT.--Section 2 of the Federal Deposit Insurance Act (12 U.S.C. 1812) is amended by striking ``Director of the Consumer Financial Protection Bureau'' each place such term appears and inserting ``Chair of the Bureau of Consumer Financial Protection''. (6) FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL ACT OF 1978.--Section 1004(a)(4) of the Federal Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3303(a)(4)) is amended by striking ``Director of the Consumer Financial Protection Bureau'' and inserting ``Chair of the Bureau of Consumer Financial Protection''. (7) FINANCIAL LITERACY AND EDUCATION IMPROVEMENT ACT.--Section 513 of the Financial Literacy and Education Improvement Act (20 U.S.C. 9702) is amended by striking ``Director'' each place such term appears and inserting ``Chair''. (8) HOME MORTGAGE DISCLOSURE ACT OF 1975.--Section 307 of the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2806 et seq) is amended by striking ``Director of the Bureau of Consumer Financial Protection'' each place such term appears and inserting ``Bureau of Consumer Financial Protection''. (9) INTERSTATE LAND SALES FULL DISCLOSURE ACT.--The Interstate Land Sales Full Disclosure Act (15 U.S.C. 1701 et seq) is amended-- (A) in section 1402-- (i) by striking paragraph (1); and (ii) by redesignating paragraphs (2) through (12) as paragraphs (1) through (11), respectively; (B) in section 1403(c)-- (i) by striking ``him'' and inserting ``the Bureau''; and (ii) by striking ``he'' and inserting ``the Bureau''; (C) in section 1407-- (i) in subsection (c), by striking ``he'' and inserting ``the Bureau''; and (ii) in subsection (e), by striking ``Director or anyone designated by him'' and inserting ``Bureau''; (D) in section 1411(a)-- (i) by striking ``his findings'' and inserting ``the findings of the Bureau''; and (ii) by striking ``his recommendation'' and inserting ``the recommendation of the Bureau''; (E) in section 1415-- (i) in subsection (a), by striking ``he may, in his discretion,'' and inserting ``the Bureau may, in the discretion of the Bureau,''; (ii) in subsection (b)-- (I) ) by striking ``in his discretion'' each place such term appears and inserting ``in the discretion of the Bureau''; (II) by striking ``he deems'' and inserting ``the Bureau determines''; and (III) by striking ``he may deem'' and inserting ``the Bureau may determine''; and (iii) in subsection (c), by striking ``the Director, or any officer designated by him,'' and inserting ``the Bureau''; (F) in section 1416(a)-- (i) by striking ``Director of the Bureau of Consumer Financial Protection who may delegate any of his'' and inserting ``Bureau of Consumer Financial Protection, which may delegate any''; (ii) by striking ``his administrative'' and inserting ``administrative''; and (iii) by striking ``himself'' and inserting ``the commission of the Bureau''; (G) in section 1418a(b)(4), by striking ``Secretary's determination'' and inserting ``determination of the Bureau''; and (H) by striking ``Director'' each place such term appears and inserting ``Bureau''. (10) REAL ESTATE SETTLEMENT PROCEDURES ACT OF 1974.--Section 5 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2604) is amended-- (A) by striking ``The Director of the Bureau of Consumer Financial Protection (hereafter in this section referred to as the `Director')'' and inserting ``The Bureau of Consumer Financial Protection (hereafter in this section referred to as the `Bureau')''; and (B) by striking ``Director'' each place such term appears and inserting ``Bureau''. (11) S.A.F.E. MORTGAGE LICENSING ACT OF 2008.--The S.A.F.E. Mortgage Licensing Act of 2008 (12 U.S.C. 5101 et seq.) is amended-- (A) by striking ``Director'' each place such term appears in headings and text and inserting ``Bureau of Consumer Financial Protection''; and (B) in section 1503, by striking paragraph (10). (12) TITLE 44, UNITED STATES CODE.--Section 3513(c) of title 44, United States Code, is amended by striking ``Director of the''. Sec. 502. None of the funds made available by this Act may be used to implement section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Sec. 503. None of the funds made available by this Act may be used to implement or enforce the Consumer Financial Protection Bureau's rule entitled ``Credit Card Penalty Fees (Regulation Z)''. Sec. 504. None of the funds made available by this Act may be used to implement or enforce the Consumer Financial Protection Bureau's rule entitled ``Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders''. Consumer Product Safety Commission salaries and expenses For necessary expenses of the Consumer Product Safety Commission, including hire of passenger motor vehicles, services as authorized by 5 U.S.C. 3109, but at rates for individuals not to exceed the per diem rate equivalent to the maximum rate payable under 5 U.S.C. 5376, purchase of nominal awards to recognize non-Federal officials' contributions to Commission activities, and not to exceed $4,000 for official reception and representation expenses, $142,000,000, of which $2,500,000 shall remain available until expended, to carry out the program, including administrative costs, authorized by section 1405 of the Virginia Graeme Baker Pool and Spa Safety Act (Public Law 110-140 as amended), and of which $2,000,000 shall remain available until expended, to carry out the program, including administrative costs, authorized by section 204 of the Nicholas and Zachary Burt Memorial Carbon Monoxide Poisoning Prevention Act of 2022 (title II of division Q of Public Law 117-103). administrative provisions--consumer product safety commission Sec. 510. During fiscal year 2025, none of the amounts made available by this Act may be used to finalize or implement the Safety Standard for Recreational Off-Highway Vehicles published by the Consumer Product Safety Commission in the Federal Register on November 19, 2014 (79 Fed. Reg. 68964) until after-- (1) the National Academy of Sciences, in consultation with the National Highway Traffic Safety Administration and the Department of Defense, completes a study to determine-- (A) the technical validity of the lateral stability and vehicle handling requirements proposed by such standard for purposes of reducing the risk of Recreational Off-Highway Vehicle (referred to in this section as ``ROV'') rollovers in the off-road environment, including the repeatability and reproducibility of testing for compliance with such requirements; (B) the number of ROV rollovers that would be prevented if the proposed requirements were adopted; (C) whether there is a technical basis for the proposal to provide information on a point-of-sale hangtag about a ROV's rollover resistance on a progressive scale; and (D) the effect on the utility of ROVs used by the United States military if the proposed requirements were adopted; and (2) a report containing the results of the study completed under paragraph (1) is delivered to-- (A) the Committee on Commerce, Science, and Transportation of the Senate; (B) the Committee on Energy and Commerce of the House of Representatives; (C) the Committee on Appropriations of the Senate; and (D) the Committee on Appropriations of the House of Representatives. Sec. 511. None of the funds made available by this Act may be used to promulgate, implement, administer, or enforce any regulation issued by the U.S. Consumer Product Safety Commission to ban gas stoves as a class of products. Sec. 512. None of the funds made available by this Act may be used to finalize or implement the Safety Standard Addressing Blade-Contact Injuries or Table Saws (CPSC Docket No. 2011-0074) published by the Consumer Product Safety Commission in the Federal Register on May 12, 2017 (82 FR 22190). Sec. 513. During fiscal year 2025, none of the amounts made available by this Act may be used to finalize or implement the Safety Standard for Debris Penetration Hazards in off-highway vehicles, including recreational off-highway vehicles (referred to in this section as ``ROVs'') and utility task vehicles (referred to in this section as ``UTVs''), published by the Consumer Product Safety Commission in the Federal Register on July 21, 2022 (87 Fed. Reg. 43688) until after-- (1) The National Academy of Sciences, in consultation with the National Highway Traffic Safety Administration and the Department of Defense, completes a study to determine-- (A) the technical validity of the debris penetration resistance requirements proposed by such standard for purposes of reducing the risk of ROV/UTV debris penetration in the off-road environment, including the repeatability and reproducibility of testing for compliance with such requirements; (B) the number of ROV/UTV debris penetrations that would be prevented if the proposed requirements were adopted; (C) the effect on the availability and utility of ROVs/UTVs used by the United States military if the proposed requirements were adopted; (D) the effect on the availability and utility of ROVs/UTVs used by consumers in the United States if the proposed requirements were adopted; and (2) a report containing the results of the study completed under paragraph (1) is delivered to-- (A) the Committee on Commerce, Science, and Transportation of the Senate; (B) the Committee on Energy and Commerce of the House of Representatives; (C) the Committee on Appropriations of the Senate; and (D) the Committee on Appropriations of the House of Representatives. Election Assistance Commission salaries and expenses For necessary expenses to carry out the Help America Vote Act of 2002 (Public Law 107-252), $20,000,000, of which $1,500,000 shall be made available to the National Institute of Standards and Technology for election reform activities authorized under the Help America Vote Act of 2002; of which not less than $2,324,429 shall be for necessary expenses of the Office of Inspector General; and of which not to exceed $8,000 shall be for official reception and representation expenses. Federal Communications Commission salaries and expenses For necessary expenses of the Federal Communications Commission, as authorized by law, including uniforms and allowances therefor, as authorized by 5 U.S.C. 5901-5902; not to exceed $4,000 for official reception and representation expenses; purchase and hire of motor vehicles; special counsel fees; and services as authorized by 5 U.S.C. 3109, $416,112,000, to remain available until expended: Provided, That $416,112,000 of offsetting collections shall be assessed and collected pursuant to section 9 of title I of the Communications Act of 1934, shall be retained and used for necessary expenses and shall remain available until expended: Provided further, That the sum herein appropriated shall be reduced as such offsetting collections are received during fiscal year 2025 so as to result in a final fiscal year 2025 appropriation estimated at $0: Provided further, That any offsetting collections received in excess of $416,112,000 in fiscal year 2025 shall not be available for obligation: Provided further, That remaining offsetting collections from prior years collected in excess of the amount specified for collection in each such year and otherwise be coming available on October 1, 2024, shall not be available for obligation: Provided further, That, notwithstanding 47 U.S.C. 309(j)(8)(B), proceeds from the use of a competitive bidding system that may be retained and made available for obligation shall not exceed $139,000,000 for fiscal year 2025: Provided further, That, of the amount appropriated under this heading, not less than $12,686,000 shall be for the salaries and expenses of the Office of Inspector General. administrative provisions--federal communications commission Sec. 520. Section 302 of the Universal Service Antideficiency Temporary Suspension Act is amended by striking ``December 31, 2024'' each place it appears and inserting ``December 31, 2025''. Sec. 521. None of the funds made available by this Act may be used by the Federal Communications Commission to modify, amend, or change its rules or regulations for universal service support payments to implement the February 27, 2004, recommendations of the Federal-State Joint Board on Universal Service regarding single connection or primary line restrictions on universal service support payments. Sec. 522. None of the funds made available by this Act may be used by the Federal Communications Commission or the Universal Service Administrative Company to update the currently applicable minimum service standards for fixed or mobile broadband Internet access services pursuant to 47 C.F.R. Sec. 54.408 without further consideration through notice and comment rulemaking procedures of the impact these minimum standards have on affordability and consumer choice and to reduce the support level pursuant to 47 C.F.R. Sec. 54.403(a)(2): Provided further, That, the FCC shall consider through notice and comment rulemaking procedures the impact that the support level for voice service as set forth in 47 C.F.R. Sec. 54.403(a)(2) has on low-income consumers' access to public safety. Sec. 523. None of the funds made available by this Act may be used to implement, administer, or enforce the final rule entitled ``The Infrastructure Investment and Jobs Act: Prevention and Elimination of Digital Discrimination,'' (89 Fed. Reg. 4128 (January 22, 2024)), or any substantially similar rule. Sec. 524. None of the funds made available by this Act may be used to implement, administer, or enforce the final rule entitled ``Safeguarding and Securing the Open Internet; Restoring Internet Freedom'' (89 Fed. Reg. 45404 (May 22, 2024)), or any substantially similar rule. Sec. 525. None of the funds made available by this Act may be used to establish within the Federal Communications Commission an advisory committee with respect to any environmental, social or governance matter. Federal Deposit Insurance Corporation office of the inspector general For necessary expenses of the Office of Inspector General in carrying out the provisions of chapter 4 of title 5, United States Code, $52,632,000, to be derived from the Deposit Insurance Fund or, only when appropriate, the FSLIC Resolution Fund. Federal Election Commission salaries and expenses For necessary expenses to carry out the provisions of the Federal Election Campaign Act of 1971, $76,500,000, of which not to exceed $5,000 shall be available for reception and representation expenses. Federal Labor Relations Authority salaries and expenses For necessary expenses to carry out functions of the Federal Labor Relations Authority, pursuant to Reorganization Plan Numbered 2 of 1978, and the Civil Service Reform Act of 1978, including services authorized by 5 U.S.C. 3109, and including hire of experts and consultants, hire of passenger motor vehicles, and including official reception and representation expenses (not to exceed $1,500) and rental of conference rooms in the District of Columbia and elsewhere, $29,500,000: Provided, That public members of the Federal Service Impasses Panel may be paid travel expenses and per diem in lieu of subsistence as authorized by law (5 U.S.C. 5703) for persons employed intermittently in the Government service, and compensation as authorized by 5 U.S.C. 3109: Provided further, That, notwithstanding 31 U.S.C. 3302, funds received from fees charged to non-Federal participants at labor-management relations conferences shall be credited to and merged with this account, to be available without further appropriation for the costs of carrying out these conferences. Federal Permitting Improvement Steering Council environmental review improvement fund For necessary expenses of the Environmental Review Improvement Fund established pursuant to section 41009(d) of Public Law 114-94, $4,000,000, to remain available until expended. Federal Trade Commission salaries and expenses For necessary expenses of the Federal Trade Commission, including uniforms or allowances therefor, as authorized by 5 U.S.C. 5901-5902; services as authorized by 5 U.S.C. 3109; hire of passenger motor vehicles; and not to exceed $2,000 for official reception and representation expenses, $388,700,000, to remain available until expended: Provided, That not to exceed $300,000 shall be available for use to contract with a person or persons for collection services in accordance with the terms of 31 U.S.C. 3718: Provided further, That, notwithstanding any other provision of law, not to exceed $304,000,000 of offsetting collections derived from fees collected for premerger notification filings under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (15 U.S.C. 18a), regardless of the year of collection, shall be retained and used for necessary expenses in this appropriation: Provided further, That, notwithstanding any other provision of law, not to exceed $15,000,000 in offsetting collections derived from fees to implement and enforce the Telemarketing Sales Rule, promulgated under the Telemarketing and Consumer Fraud and Abuse Prevention Act (15 U.S.C. 6101 et seq.), shall be credited to this account, and be retained and used for necessary expenses in this appropriation: Provided further, That the sum herein appropriated from the general fund shall be reduced as such offsetting collections are received during fiscal year 2025 so as to result in a final fiscal year 2025 appropriation from the general fund estimated at no more than $69,700,000: Provided further, That none of the funds made available to the Federal Trade Commission may be used to implement subsection (e)(2)(B) of section 43 of the Federal Deposit Insurance Act (12 U.S.C. 1831t). administrative provisions--federal trade commission Sec. 530. None of the funds made available by this Act may be used to implement or enforce the final rule entitled ``Combating Auto Retail Scams Trade Regulation Rule'' (89 Fed. Reg. 590 (January 4, 2024)). Sec. 531. None of the funds made available by this Act may be used to finalize or enforce the ``Trade Regulation on the Use of Earnings Claims'' or the ``Review of the Business Opportunity Rule'' rulemakings without a clear statement of need or unless overlapping rulemaking and improvements in self-regulation and consumer protection of industries that would be impacted is considered. Sec. 532. None of the funds made available by this Act may be used by employees of the Federal Trade Commission to conduct any activity with the European Union's European Commission, the United Kingdom's Competition and Markets Authority, or the People's Republic of China's State Administration for Market Regulation for any merger review, investigation, or enforcement action. Sec. 533. None of the funds made available by this Act may be used to implement, administer, or enforce any rule defining or describing unfair methods of competition for purposes of the Federal Trade Commission Act (15 U.S.C. 41 et seq.). Sec. 534. None of the funds made available by this Act may be used to implement, administer, or enforce the February 4, 2021, suspension of early termination to filings made under section 7A of the Clayton Act (15 U.S. C. 18a). Sec. 535. None of the funds made available by this Act may be used to implement administer, or enforce amendments to part 803 of the premerger notification rules that implement section 7A of the Clayton Act (15 U.S.C. 18a) and to the premerger notification and report form and instructions made after June 14, 2021. Sec. 536. None of the funds made available by this Act may be used to implement, administer, or enforce the October 25, 2021, Statement of the Commission on Use of Prior Approval Provisions in Merger Orders. Sec. 537. None of the funds made available by this Act may be used to implement, administer, or enforce the November 10, 2022, ``Policy Statement Regarding the Scope of Unfair Methods of Competition Under Section 5 of the Federal Trade Commission Act, Commission File No. P221202''. Sec. 538. None of the funds made available by this Act may be used to file a complaint unless all Commissioners certify that they have had access to review all relevant materials at least 10 business days prior to a Commission Meeting or vote on the matter. Sec. 539. None of the funds made available by this Act may be used for the Federal Trade Commission to pursue or continue a Civil Investigative Demand against a gaming or hospitality company if the action utilizes authority from the Safe Guards Rule (16 C.F.R. Part 314) or the Red Flags Rule (16 C.F.R Part 681). General Services Administration real property activities federal buildings fund limitations on availability of revenue (including transfers of funds) Amounts in the Fund, including revenues and collections deposited into the Fund, shall be available for necessary expenses of real property management and related activities not otherwise provided for, including operation, maintenance, and protection of Federally owned and leased buildings; rental of buildings in the District of Columbia; restoration of leased premises; moving governmental agencies (including space adjustments and telecommunications relocation expenses) in connection with the assignment, allocation, and transfer of space; contractual services incident to cleaning or servicing buildings, and moving; repair and alteration of Federally owned buildings, including grounds, approaches, and appurtenances; care and safeguarding of sites; maintenance, preservation, demolition, and equipment; acquisition of buildings and sites by purchase, condemnation, or as otherwise authorized by law; acquisition of options to purchase buildings and sites; conversion and extension of Federally owned buildings; preliminary planning and design of projects by contract or otherwise; construction of new buildings (including equipment for such buildings); and payment of principal, interest, and any other obligations for public buildings acquired by installment purchase and purchase contract; in the aggregate amount of $8,932,122,000, of which-- (1) $250,000,000 shall remain available until expended for repairs and alterations, including associated design and construction services, in addition to amounts otherwise provided for such purposes, of which-- (A) $200,000,000 is for Basic Repairs and Alterations; and (B) $50,000,000 is for Special Emphasis Programs: Provided, That funds made available in this or any previous Act in the Federal Buildings Fund for Repairs and Alterations shall, for prospectus projects, be limited to the amount identified for each project, except each project in this or any previous Act may be increased by an amount not to exceed 20 percent unless advance approval is obtained from the Committees on Appropriations of the House of Representatives and the Senate of a greater amount: Provided further, That additional projects for which prospectuses have been fully approved may be funded under this category only if advance approval is obtained from the Committees on Appropriations of the House of Representatives and the Senate: Provided further, That the amounts provided in this or any prior Act for ``Repairs and Alterations'' may be used to fund costs associated with implementing security improvements to buildings necessary to meet the minimum standards for security in accordance with current law and in compliance with the reprogramming guidelines of the appropriate Committees of the House and Senate: Provided further, That the difference between the funds appropriated and expended on any projects in this or any prior Act, under the heading ``Repairs and Alterations'', may be transferred to ``Basic Repairs and Alterations'' or used to fund authorized increases in prospectus projects: Provided further, That the amount provided in this or any prior Act for ``Basic Repairs and Alterations'' may be used to pay claims against the Government arising from any projects under the heading ``Repairs and Alterations'' or used to fund authorized increases in prospectus projects; (2) $5,606,122,000 for rental of space to remain available until expended; and (3) $3,076,000,000 for building operations to remain available until expended: Provided, That the total amount of funds made available from this Fund to the General Services Administration shall not be available for expenses of any construction, repair, alteration and acquisition project for which a prospectus, if required by 40 U.S.C. 3307(a), has not been approved, except that necessary funds may be expended for each project for required expenses for the development of a proposed prospectus: Provided further, That funds available in the Federal Buildings Fund may be expended for emergency repairs when advance approval is obtained from the Committees on Appropriations of the House of Representatives and the Senate: Provided further, That amounts necessary to provide reimbursable special services to other agencies under 40 U.S.C. 592(b)(2) and amounts to provide such reimbursable fencing, lighting, guard booths, and other facilities on private or other property not in Government ownership or control as may be appropriate to enable the United States Secret Service to perform its protective functions pursuant to 18 U.S.C. 3056, shall be available from such revenues and collections: Provided further, That revenues and collections and any other sums accruing to this Fund during fiscal year 2025, excluding reimbursements under 40 U.S.C. 592(b)(2), in excess of the aggregate new obligational authority authorized for Real Property Activities of the Federal Buildings Fund in this Act shall remain in the Fund and shall not be available for expenditure except as authorized in appropriations Acts. general activities government-wide policy For expenses authorized by law, not otherwise provided for, for Government-wide policy associated with the management of real and personal property assets and certain administrative services; Government-wide policy support responsibilities relating to acquisition, travel, motor vehicles, information technology management, and related technology activities; and services as authorized by 5 U.S.C. 3109; and evaluation activities as authorized by statute; $69,000,000. operating expenses For expenses authorized by law, not otherwise provided for, for Government-wide activities associated with utilization and donation of surplus personal property; disposal of real property; agency-wide policy direction and management; $52,000,000, of which not to exceed $7,500 is for official reception and representation expenses. civilian board of contract appeals For expenses authorized by law, not otherwise provided for, for the activities associated with the Civilian Board of Contract Appeals, $10,000,000, of which $2,000,000 shall remain available until expended. office of inspector general For necessary expenses of the Office of Inspector General and services as authorized by 5 U.S.C. 3109, $72,500,000: Provided, That not to exceed $1,500,000 shall be available for information technology enhancements related to providing a modern technology case management solutions: Provided further, That not to exceed $50,000 shall be available for payment for information and detection of fraud against the Government, including payment for recovery of stolen Government property: Provided further, That not to exceed $2,500 shall be available for awards to employees of other Federal agencies and private citizens in recognition of efforts and initiatives resulting in enhanced Office of Inspector General effectiveness. allowances and office staff for former presidents For carrying out the provisions of the Act of August 25, 1958 (3 U.S.C. 102 note), and Public Law 95-138, $5,500,000. federal citizen services fund (including transfer of funds) For necessary expenses authorized by 40 U.S.C. 323 and 44 U.S.C. 3604; and for necessary expenses authorized by law in support of interagency projects that enable the Federal Government to enhance its ability to conduct activities electronically, through the development and implementation of innovative uses of information technology; $55,000,000, to be deposited into the Federal Citizen Services Fund: Provided, That the previous amount may be transferred to Federal agencies to carry out the purpose of the Federal Citizen Services Fund: Provided further, That the appropriations, revenues, reimbursements, and collections deposited into the Fund shall be available until expended for necessary expenses in support of interagency projects that enable the Federal Government to enhance its ability to conduct activities electronically through the development and implementation of innovative uses of information technology in the aggregate amount not to exceed $150,000,000: Provided further, That appropriations, revenues, reimbursements, and collections accruing to this Fund during fiscal year 2025 in excess of such amount shall remain in the Fund and shall not be available for expenditure except as authorized in appropriations Acts: Provided further, That, of the total amount appropriated, up to $5,000,000 shall be available for support functions and full-time hires to support activities related to the Administration's requirements under title II of the Foundations for Evidence-Based Policymaking Act of 2018 (Public Law 115-435): Provided further, That the transfer authorities provided herein shall be in addition to any other transfer authority provided in this Act. presidential transition (including transfer of funds) For necessary expenses to carry out the Presidential Transition Act of 1963 (Public Law 88-277), as amended (in this heading referred to as ``the Act''), $10,202,314, of which $6,971,863 is available for activities authorized by sections 3(a)(1) through 3(a)(7) and 3(a)(10) of the Act; $2,730,451 is available for activities authorized by section 5 of the Act; and not to exceed $500,000 is available for activities authorized by subsections 3(a)(8) and 3(a)(9) of the Act: Provided, That such amounts may be transferred and credited to the ``Acquisition Services Fund'' or ``Federal Buildings Fund'' to reimburse obligations incurred prior to enactment of this Act for the purposes provided herein related to the Presidential election in 2024: Provided further, That in the case where the President-elect is the incumbent President or in the case where the Vice-President-elect is the incumbent Vice President, $10,202,314 is permanently cancelled, pursuant to subsection 3(g) of the Act: Provided further, That amounts available under this heading shall be in addition to any other amounts available for such purposes. working capital fund (including transfer of funds) For the Working Capital Fund of the General Services Administration, $4,000,000, to remain available until expended, for necessary costs incurred by the Administrator to modernize rulemaking systems and to provide support services for Federal rulemaking agencies. administrative provisions--general services administration (including transfer of funds) Sec. 540. Funds available to the General Services Administration shall be available for the hire of passenger motor vehicles. Sec. 541. Funds in the Federal Buildings Fund made available for fiscal year 2025 for Federal Buildings Fund activities may be transferred between such activities only to the extent necessary to meet program requirements: Provided, That any proposed transfers shall be approved in advance by the Committees on Appropriations of the House of Representatives and the Senate. Sec. 542. Except as otherwise provided in this title, funds made available by this Act shall be used to transmit a fiscal year 2026 request for United States Courthouse construction only if the request: (1) meets the design guide standards for construction as established and approved by the General Services Administration, the Judicial Conference of the United States, and the Office of Management and Budget; (2) reflects the priorities of the Judicial Conference of the United States as set out in its approved Courthouse Project Priorities plan; and (3) includes a standardized courtroom utilization study of each facility to be constructed, replaced, or expanded. Sec. 543. None of the funds provided in this Act may be used to increase the amount of occupiable square feet, provide cleaning services, security enhancements, or any other service usually provided through the Federal Buildings Fund, to any agency that does not pay the rate per square foot assessment for space and services as determined by the General Services Administration in consideration of the Public Buildings Amendments Act of 1972 (Public Law 92-313). Sec. 544. From funds made available under the heading ``Federal Buildings Fund, Limitations on Availability of Revenue'', claims against the Government of less than $250,000 arising from direct construction projects and acquisition of buildings may be liquidated from savings effected in other construction projects with prior notification to the Committees on Appropriations of the House of Representatives and the Senate. Sec. 545. In any case in which the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Environment and Public Works of the Senate adopt a resolution granting lease authority pursuant to a prospectus transmitted to Congress by the Administrator of the General Services Administration under 40 U.S.C. 3307, the Administrator shall ensure that the delineated area of procurement is identical to the delineated area included in the prospectus for all lease agreements, except that, if the Administrator determines that the delineated area of the procurement should not be identical to the delineated area included in the prospectus, the Administrator shall provide an explanatory statement to each of such committees and the Committees on Appropriations of the House of Representatives and the Senate prior to exercising any lease authority provided in the resolution. Sec. 546. With respect to projects funded under the heading ``Federal Citizen Services Fund'', the Administrator of General Services shall submit a spending plan and explanation for each project to be undertaken to the Committees on Appropriations of the House of Representatives and the Senate not later than 60 days after the date of enactment of this Act. Sec. 547. None of the funds appropriated or otherwise made available by this Act may be made available for the purchase of real property by the General Services Administration, unless as needed for a project authorized pursuant to 40 U.S.C. 3307. Sec. 548. None of the funds made available by this or any other appropriations Act under the heading ``General Services Administration--Federal Buildings Fund'' for the Federal Bureau of Investigation (in this section referred to as the ``FBI'') Headquarters Consolidation, may be obligated or expended until the General Services Administration provides the Committee with a detailed plan and timeline to support the District of Columbia-based personnel by-- (1) keeping the current FBI headquarters operational; or (2) identifying another Federally owned location in the District of Columbia that can serve as the FBI headquarters building. Sec. 549. None of the funds made available by this Act may be used to finalize, promulgate, or implement the rule proposed by the General Services Administration entitled ``Federal Acquisition Regulation: Disclosure of Greenhouse Gas Emissions and Climate-Related Financial Risk'' (87 Fed. Reg. 68312 (November 14, 2022)), or to propose, promulgate, or implement any substantially similar rule or policy. Harry S Truman Scholarship Foundation salaries and expenses For payment to the Harry S Truman Scholarship Foundation Trust Fund, established by section 10 of Public Law 93-642, $2,500,000, to remain available until expended. Merit Systems Protection Board salaries and expenses (including transfer of funds) For necessary expenses to carry out functions of the Merit Systems Protection Board pursuant to Reorganization Plan Numbered 2 of 1978, the Civil Service Reform Act of 1978, and the Whistleblower Protection Act of 1989 (5 U.S.C. 5509 note), including services as authorized by 5 U.S.C. 3109, rental of conference rooms in the District of Columbia and elsewhere, hire of passenger motor vehicles, direct procurement of survey printing, and not to exceed $2,000 for official reception and representation expenses, $49,135,000, to remain available until September 30, 2026, and in addition not to exceed $2,345,000, to remain available until September 30, 2026, for administrative expenses to adjudicate retirement appeals to be transferred from the Civil Service Retirement and Disability Fund in amounts determined by the Merit Systems Protection Board. Morris K. Udall and Stewart L. Udall Foundation morris k. udall and stewart l. udall trust fund (including transfer of funds) For payment to the Morris K. Udall and Stewart L. Udall Foundation, pursuant to the Morris K. Udall and Stewart L. Udall Foundation Act (20 U.S.C. 5601 et seq.), $1,782,000, to remain available for direct expenditure until expended, of which, notwithstanding sections 8 and 9 of such Act, up to $1,000,000 shall be available to carry out the activities authorized by section 6(7) of Public Law 102-259 and section 817(a) of Public Law 106-568 (20 U.S.C. 5604(7)): Provided, That all current and previous amounts transferred to the Office of Inspector General of the Department of the Interior will remain available until expended for audits and investigations of the Morris K. Udall and Stewart L. Udall Foundation, consistent with chapter 4 of title 5, United States Code, and for annual independent financial audits of the Morris K. Udall and Stewart L. Udall Foundation pursuant to the Accountability of Tax Dollars Act of 2002 (Public Law 107-289): Provided further, That previous amounts transferred to the Office of Inspector General of the Department of the Interior may be transferred to the Morris K. Udall and Stewart L. Udall Foundation for annual independent financial audits pursuant to the Accountability of Tax Dollars Act of 2002 (Public Law 107-289): Provided further, That any interest earned during fiscal year 2025 from investments made from discretionary appropriations to the Morris K. Udall and Stewart L. Udall Trust Fund after the date specified in 20 U.S.C. Sec. 5606(b)(1) shall be available until expended. environmental dispute resolution fund For payment to the Environmental Dispute Resolution Fund to carry out activities authorized in the Environmental Policy and Conflict Resolution Act of 1998, $3,904,000, to remain available until expended. National Archives and Records Administration operating expenses For necessary expenses in connection with the administration of the National Archives and Records Administration and archived Federal records and related activities, as provided by law, and for expenses necessary for the review and declassification of documents, the activities of the Public Interest Declassification Board, the operations and maintenance of the electronic records archives, the hire of passenger motor vehicles, and for uniforms or allowances therefor, as authorized by law (5 U.S.C. 5901), including maintenance, repairs, and cleaning, $427,250,000, of which $30,000,000 shall remain available until expended for expenses necessary to enhance the Federal Government's ability to electronically preserve, manage, and store Government records. office of inspector general For necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Reform Act of 2008, Public Law 110-409, 122 Stat. 4302-16 (2008), and chapter 4 of title 5, United States Code, and for the hire of passenger motor vehicles, $5,920,000. repairs and restoration For the repair, alteration, and improvement of archives facilities and museum exhibits, related equipment for public spaces, and to provide adequate storage for holdings, $10,000,000, to remain available until expended. national historical publications and records commission grants program For necessary expenses for allocations and grants for historical publications and records as authorized by 44 U.S.C. 2504, $5,000,000, to remain available until expended. National Credit Union Administration community development revolving loan fund For the Community Development Revolving Loan Fund program as authorized by 42 U.S.C. 9812, 9822, and 9910, $3,423,000 shall be available until September 30, 2025, for technical assistance to low- income designated credit unions. Office of Government Ethics salaries and expenses For necessary expenses to carry out functions of the Office of Government Ethics pursuant to the chapter 131 of title 5, United States Code, the Ethics Reform Act of 1989, and the Representative Louise McIntosh Slaughter Stop Trading on Congressional Knowledge Act of 2012, including services as authorized by 5 U.S.C. 3109, rental of conference rooms in the District of Columbia and elsewhere, hire of passenger motor vehicles, and not to exceed $1,500 for official reception and representation expenses, $22,386,000. Office of Personnel Management salaries and expenses (including transfers of trust funds) For necessary expenses to carry out functions of the Office of Personnel Management in this heading referred to as ``OPM'' pursuant to Reorganization Plan Numbered 2 of 1978 and the Civil Service Reform Act of 1978, including services as authorized by 5 U.S.C. 3109; medical examinations performed for veterans by private physicians on a fee basis; rental of conference rooms in the District of Columbia and elsewhere; hire of passenger motor vehicles; not to exceed $2,500 for official reception and representation expenses; and payment of per diem and/or subsistence allowances to employees where Voting Rights Act activities require an employee to remain overnight at his or her post of duty, $198,137,000: Provided, That of the total amount made available under this heading, $10,710,000 may remain available until expended, for information technology modernization, and shall be in addition to funds otherwise made available for such purposes: Provided further, That of the total amount made available under this heading, $1,445,000 may be made available for strengthening the capacity and capabilities of the acquisition workforce (as defined by the Office of Federal Procurement Policy Act, as amended (41 U.S.C. 4001 et seq.)), including the recruitment, hiring, training, and retention of such workforce and information technology in support of acquisition workforce effectiveness or for management solutions to improve acquisition management; and in addition $241,000,000 for administrative expenses, to be transferred from the appropriate trust funds of OPM without regard to other statutes, including direct procurement of printed materials, for the retirement and insurance programs: Provided further, That the provisions of this appropriation shall not affect the authority to use applicable trust funds as provided by sections 8348(a)(1)(B), 8958(f)(2)(A), 8988(f)(2)(A), and 9004(f)(2)(A) of title 5, United States Code: Provided further, That no part of this appropriation shall be available for salaries and expenses of the Legal Examining Unit of OPM established pursuant to Executive Order No. 9358 of July 1, 1943, or any successor unit of like purpose: Provided further, That the President's Commission on White House Fellows, established by Executive Order No. 11183 of October 3, 1964, may, during fiscal year 2025, accept donations of money, property, and personal services: Provided further, That such donations, including those from prior years, may be used for the development of publicity materials to provide information about the White House Fellows, except that no such donations shall be accepted for travel or reimbursement of travel expenses, or for the salaries of employees of such Commission: Provided further, That not to exceed 5 percent of amounts made available under this heading may be transferred to an information technology working capital fund established for purposes authorized by subtitle G of title X of division A of the National Defense Authorization Act for Fiscal Year 2018 (Public Law 115-91; 40 U.S.C. 11301 note): Provided further, That the OPM Director shall notify, and receive approval from, the Committees on Appropriations of the House of Representatives and the Senate at least 15 days in advance of any transfer under the preceding proviso: Provided further, That amounts transferred to such a fund under such transfer authority from any organizational category of OPM shall not exceed 5 percent of each such organizational category's budget as identified in the report required by section 608 of this Act: Provided further, That amounts transferred to such a fund shall remain available for obligation through September 30, 2028. office of inspector general salaries and expenses (including transfer of trust funds) For necessary expenses of the Office of Inspector General in carrying out the provisions of chapter 4 of title 5, United States Code, including services as authorized by 5 U.S.C. 3109, hire of passenger motor vehicles, $7,000,000, and in addition, not to exceed $31,000,000 for administrative expenses to audit, investigate, and provide other oversight of the Office of Personnel Management's retirement and insurance programs, to be transferred from the appropriate trust funds of the Office of Personnel Management, as determined by the Inspector General: Provided, That the Inspector General is authorized to rent conference rooms in the District of Columbia and elsewhere. Office of Special Counsel salaries and expenses For necessary expenses to carry out functions of the Office of Special Counsel, including services as authorized by 5 U.S.C. 3109, payment of fees and expenses for witnesses, rental of conference rooms in the District of Columbia and elsewhere, and hire of passenger motor vehicles, $31,585,000. Privacy and Civil Liberties Oversight Board salaries and expenses For necessary expenses of the Privacy and Civil Liberties Oversight Board, as authorized by section 1061 of the Intelligence Reform and Terrorism Prevention Act of 2004 (42 U.S.C. 2000ee), $13,700,000, to remain available until September 30, 2026. Public Buildings Reform Board salaries and expenses For salaries and expenses of the Public Buildings Reform Board in carrying out the Federal Assets Sale and Transfer Act of 2016 (Public Law 114-287), $3,605,000, to remain available until expended. Securities and Exchange Commission salaries and expenses For necessary expenses for the Securities and Exchange Commission, including services as authorized by 5 U.S.C. 3109, the rental of space (to include multiple year leases) in the District of Columbia and elsewhere, and not to exceed $3,500 for official reception and representation expenses, $2,004,663,000, to remain available until expended; of which not less than $20,050,000 shall be for the Office of Inspector General; of which not to exceed $275,000 shall be available for a permanent secretariat for the International Organization of Securities Commissions; and of which not to exceed $100,000 shall be available for expenses for consultations and meetings hosted by the Commission with foreign governmental and other regulatory officials, members of their delegations and staffs to exchange views concerning securities matters, such expenses to include necessary logistic and administrative expenses and the expenses of Commission staff and foreign invitees in attendance including: (1) incidental expenses such as meals; (2) travel and transportation; and (3) related lodging or subsistence; and of which not more than $644,719,000 shall be for the Division of Enforcement. In addition to the foregoing appropriation, for move, replication, and related costs associated with replacement leases for the Commission's office facilities, not to exceed $8,400,000, to remain available until expended. For purposes of calculating the fee rate under section 31(j) of the Securities Exchange Act of 1934 (15 U.S.C. 78ee(j)) for fiscal year 2025, all amounts appropriated under this heading shall be deemed to be the regular appropriation to the Commission for fiscal year 2025: Provided, That fees and charges authorized by section 31 of the Securities Exchange Act of 1934 (15 U.S.C. 78ee) shall be credited to this account as offsetting collections: Provided further, That not to exceed $2,004,663,000 of such offsetting collections shall be available until expended for necessary expenses of this account; not to exceed $8,400,000 of such offsetting collections shall be available until expended for move, replication, and related costs under this heading associated with replacement leases for the Commission's office facilities: Provided further, That the total amount appropriated under this heading from the general fund for fiscal year 2025 shall be reduced as such offsetting fees are received so as to result in a final total fiscal year 2025 appropriation from the general fund estimated at not more than $0: Provided further, That if any amount of the appropriation for move, replication, and related costs associated with replacement leases for the Commission's office facilities is subsequently de-obligated by the Commission, such amount that was derived from the general fund shall be returned to the general fund, and such amounts that were derived from fees or assessments collected for such purpose shall be paid to each national securities exchange and national securities association, respectively, in proportion to any fees or assessments paid by such national securities exchange or national securities association under section 31 of the Securities Exchange Act of 1934 (15 U.S.C. 78ee) in fiscal year 2025. administrative provisions--securities and exchange commission Sec. 550. None of the funds made available by this Act may be used to implement or enforce the final rule entitled ``The Enhancement and Standardization of Climate-Related Disclosures for Investors'' (89 Fed. Reg. 21668 (March 28, 2024)) or any substantially similar rule. Sec. 551. None of the funds made available by this Act may be used to finalize, implement, or enforce the rulemaking entitled ``Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting'' (87 Fed. Reg. 77172 (December 16, 2022)). Sec. 552. None of the funds made available by this Act may be used to finalize, implement, or enforce the rulemakings entitled ``Regulation Best Execution'', ``Order Competition Rule'', and ``Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency of Better Priced Order''. Sec. 553. None of the funds made available by this Act may be used to compel a private company to make a public offering under the Securities Act of 1933 by amending the ``held of record'' definition under section 12(g)(1) of the Securities Exchange Act of 1934. Sec. 554. None of the funds made available by this Act may be used to finalize, implement, or enforce the rulemaking entitled ``Safeguarding Advisory Client Assets'' (88 Fed. Reg. 14672 (March 9, 2023)). Sec. 555. None of the funds made available by this Act may be used to implement any program that requires a national securities exchange, a national securities association, or a member of such an exchange or association to collect and provide personally identifiable information with respect to a retail market participant to meet the requirements relating to an order or a reportable event under section 242.613(c)(7) of title 17, Code of Federal Regulations, or any successor regulations thereof. Sec. 556. None of the funds made available by this Act may be used to review or approve the budget for the Financial Accounting Standards Board (FASB) as described in 15 U.S.C. 7219, until the FASB withdraws the Accounting Standards Update on Income Tax Disclosures issued in December 2023 (No. 2023-09). Sec. 557. None of the funds made available by this Act may be used to develop, promulgate, finalize, implement, or enforce rulemaking that would, directly or indirectly, create new disclosure requirements under Regulation D or lower the amount of money an issuer can raise through Regulation D. Sec. 558. None of the funds made available by this Act may be used to implement or enforce ``Staff Accounting Bulletin No. 121'' (87 Fed. Reg. 21015 (April 11, 2022)). Sec. 559. None of the funds made available by this Act may be used to implement or enforce the final rule entitled ``Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure'' (88 Fed. Reg. 51896 (August 4, 2023)). Sec. 560. None of the funds made available by this Act may be used to carry out an enforcement action related to a digital asset transaction, except for enforcement actions related to fraud or market manipulation, unless (1) the Securities and Exchange Commission has promulgated a regulation that clarifies which digital assets are securities under existing law, or (2) Congress passes legislation that gives the Securities and Exchange Commission regulatory and enforcement jurisdiction over digital assets and it is signed into law by the President. Selective Service System salaries and expenses For necessary expenses of the Selective Service System, including expenses of attendance at meetings and of training for uniformed personnel assigned to the Selective Service System, as authorized by 5 U.S.C. 4101-4118 for civilian employees; hire of passenger motor vehicles; services as authorized by 5 U.S.C. 3109; and not to exceed $1,000 for official reception and representation expenses; $31,300,000: Provided, That during the current fiscal year, the President may exempt this appropriation from the provisions of 31 U.S.C. 1341, whenever the President deems such action to be necessary in the interest of national defense: Provided further, That none of the funds appropriated by this Act may be expended for or in connection with the induction of any person into the Armed Forces of the United States. Small Business Administration salaries and expenses For necessary expenses, not otherwise provided for, of the Small Business Administration, including hire of passenger motor vehicles as authorized by sections 1343 and 1344 of title 31, United States Code, and not to exceed $3,500 for official reception and representation expenses, $305,378,000, of which not less than $15,000,000 shall be available for examinations, reviews, and other lender oversight activities: Provided, That the Administrator is authorized to charge fees to cover the cost of publications developed by the Small Business Administration, and certain loan program activities, including fees authorized by section 5(b) of the Small Business Act: Provided further, That, notwithstanding 31 U.S.C. 3302, revenues received from all such activities shall be credited to this account, to remain available until expended, for carrying out these purposes without further appropriations: Provided further, That the Small Business Administration may accept gifts in an amount not to exceed $4,000,000 and may co-sponsor activities, each in accordance with section 132(a) of division K of Public Law 108-447, during fiscal year 2025: Provided further, That $6,100,000 shall be available for the Loan Modernization and Accounting System, to be available until September 30, 2026: Provided further, That $15,500,000 shall be available for costs associated with the certification of small business concerns owned and controlled by veterans or service-disabled veterans under sections 36A and 36 of the Small Business Act (15 U.S.C. 657f-1; 657f), respectively, and section 862 of Public Law 116-283, to be available until September 30, 2026. entrepreneurial development programs For necessary expenses of programs supporting entrepreneurial and small business development, $299,550,000, to remain available until September 30, 2026: Provided, That $140,000,000 shall be available to fund grants for performance in fiscal year 2025 or fiscal year 2026 as authorized by section 21 of the Small Business Act: Provided further, That $41,000,000 shall be for marketing, management, and technical assistance under section 7(m) of the Small Business Act (15 U.S.C. 636(m)(4)) by intermediaries that make microloans under the microloan program: Provided further, That $20,000,000 shall be available for grants to States to carry out export programs that assist small business concerns authorized under section 22(l) of the Small Business Act (15 U.S.C. 649(l)). office of inspector general For necessary expenses of the Office of Inspector General in carrying out the provisions of chapter 4 of title 5, United States Code, $42,020,000. office of advocacy For necessary expenses of the Office of Advocacy in carrying out the provisions of title II of Public Law 94-305 (15 U.S.C. 634a et seq.) and the Regulatory Flexibility Act of 1980 (5 U.S.C. 601 et seq.), $10,109,000, to remain available until expended. business loans program account (including transfer of funds) For the cost of direct loans, $3,000,000, to remain available until expended: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That subject to section 502 of the Congressional Budget Act of 1974, during fiscal year 2025 commitments to guarantee loans under section 503 of the Small Business Investment Act of 1958 and commitments for loans authorized under subparagraph (C) of section 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)) shall not exceed, in the aggregate, $12,500,000,000: Provided further, That during fiscal year 2025 commitments for general business loans authorized under paragraphs (1) through (35) of section 7(a) of the Small Business Act shall not exceed $32,500,000,000 for a combination of amortizing term loans and the aggregated maximum line of credit provided by revolving loans: Provided further, That during fiscal year 2025 commitments to guarantee loans for debentures under section 303(b) of the Small Business Investment Act of 1958 shall not exceed $6,000,000,000: Provided further, That during fiscal year 2025, guarantees of trust certificates authorized by section 5(g) of the Small Business Act shall not exceed a principal amount of $15,000,000,000. In addition, for administrative expenses to carry out the direct and guaranteed loan programs, $162,000,000, which may be transferred to and merged with the appropriations for Salaries and Expenses. disaster loans program account (including transfers of funds) For administrative expenses to carry out the direct loan program authorized by section 7(b) of the Small Business Act, $175,000,000, to be available until expended, of which $1,600,000 is for the Office of Inspector General of the Small Business Administration for audits and reviews of disaster loans and the disaster loan programs and shall be transferred to and merged with the appropriations for the Office of Inspector General; of which $165,000,000 is for direct administrative expenses of loan making and servicing to carry out the direct loan program, which may be transferred to and merged with the appropriations for Salaries and Expenses; and of which $8,400,000 is for indirect administrative expenses for the direct loan program, which may be transferred to and merged with the appropriations for Salaries and Expenses: Provided, That, of the funds provided under this heading, $143,000,000 shall be for major disasters declared pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5122(2)): Provided further, That the amount for major disasters under this heading is designated by the Congress as being for disaster relief pursuant to section 251(b)(2)(D) of the Balanced Budget and Emergency Deficit Control Act of 1985 (Public Law 99-177), as amended. administrative provisions--small business administration (including transfers of funds) Sec. 570. Not to exceed 5 percent of any appropriation made available for the current fiscal year for the Small Business Administration in this Act may be transferred between such appropriations, but no such appropriation shall be increased by more than 10 percent by any such transfers: Provided, That any transfer pursuant to this paragraph shall be treated as a reprogramming of funds under section 608 of this Act and shall not be available for obligation or expenditure except in compliance with the procedures set forth in that section. Sec. 571. Not to exceed 3 percent of any appropriation made available in this Act for the Small Business Administration under the headings ``Salaries and Expenses'' and ``Business Loans Program Account'' may be transferred to the Administration's information technology system modernization and working capital fund (IT WCF), as authorized by section 1077(b)(1) of title X of division A of the National Defense Authorization Act for Fiscal Year 2018, for the purposes specified in section 1077(b)(3) of such Act, upon the advance approval of the Committees on Appropriations of the House of Representatives and the Senate: Provided, That amounts transferred to the IT WCF under this section shall remain available for obligation through September 30, 2028. Sec. 572. None of the funds made available by this Act may be used to carry out an enforcement action against a recipient of Federal assistance for a major disaster or emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5121 et seq.) in any case in which such recipient-- (1) is unable to make monthly repayments for a duplication of benefits under section 312 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5155); and (2) has not yet received Community Development Block Grant funds for which such recipient is eligible. Sec. 573. None of the funds made available by this Act may be used by the Small Business Administration to further fund or transfer funds to the Community Navigator Pilot Program established under section 5004 of the American Rescue Plan Act of 2021 (15 U.S.C. 9013). Sec. 574. None of the funds made available by this Act may be used by the Small Business Administration to fund climate change initiatives. Sec. 575. None of the funds made available by this Act may be used to create, implement, administer, expand, or enforce a direct lending program by the Small Business Administration not in effect on January 1, 2024. Sec. 576. None of the funds made available by this Act may be used to hire staff at the District of Columbia office until the Small Business Administration senior area manager position at the Coachella Valley, California, satellite office is staffed by at least one individual. Sec. 577. None of the funds made available by this Act may be used to carry out the memorandum of understanding between the Small Business Administration and the Michigan Department of State, dated March 18, 2024, relating to the provision of voter registration services in Michigan. United States Postal Service payment to the postal service fund For payment to the Postal Service Fund for revenue forgone on free and reduced rate mail, pursuant to subsections (c) and (d) of section 2401 of title 39, United States Code, $49,750,000: Provided, That mail for overseas voting and mail for the blind shall continue to be free: Provided further, That none of the funds made available to the Postal Service by this Act shall be used to implement any rule, regulation, or policy of charging any officer or employee of any State or local child support enforcement agency, or any individual participating in a State or local program of child support enforcement, a fee for information requested or provided concerning an address of a postal customer: Provided further, That none of the funds provided in this Act shall be used to consolidate or close small rural and other small post offices: Provided further, That the Postal Service may not destroy, and shall continue to offer for sale, any copies of the Multinational Species Conservation Funds Semipostal Stamp, as authorized under the Multinational Species Conservation Funds Semipostal Stamp Act of 2010 (Public Law 111-241). office of inspector general salaries and expenses (including transfer of funds) For necessary expenses of the Office of Inspector General in carrying out the provisions of chapter 4 of title 5, United States Code, $274,000,000, to be derived by transfer from the Postal Service Fund and expended as authorized by section 603(b)(3) of the Postal Accountability and Enhancement Act (Public Law 109-435). United States Tax Court salaries and expenses For necessary expenses, including contract reporting and other services as authorized by 5 U.S.C. 3109, and not to exceed $3,000 for official reception and representation expenses, $55,000,000, of which $1,000,000 shall remain available until expended: Provided, That travel expenses of the judges shall be paid upon the written certificate of the judge. TITLE VI GENERAL PROVISIONS--THIS ACT Sec. 601. None of the funds in this Act shall be used for the planning or execution of any program to pay the expenses of, or otherwise compensate, non-Federal parties intervening in regulatory or adjudicatory proceedings funded in this Act. Sec. 602. None of the funds appropriated in this Act shall remain available for obligation beyond the current fiscal year, nor may any be transferred to other appropriations, except for transfers made pursuant to the authority in section 3173(d) of title 40, United States Code, unless expressly so provided herein. Sec. 603. The expenditure of any appropriation under this Act for any consulting service through procurement contract pursuant to 5 U.S.C. 3109, shall be limited to those contracts where such expenditures are a matter of public record and available for public inspection, except where otherwise provided under existing law, or under existing Executive order issued pursuant to existing law. Sec. 604. None of the funds made available in this Act may be transferred to any department, agency, or instrumentality of the United States Government, except pursuant to a transfer made by, or transfer authority provided in, this Act or any other appropriations Act. Sec. 605. None of the funds made available by this Act shall be available for any activity or for paying the salary of any Government employee where funding an activity or paying a salary to a Government employee would result in a decision, determination, rule, regulation, or policy that would prohibit the enforcement of section 307 of the Tariff Act of 1930 (19 U.S.C. 1307). Sec. 606. No funds appropriated pursuant to this Act may be expended by an entity unless the entity agrees that in expending the assistance the entity will comply with chapter 83 of title 41, United States Code. Sec. 607. No funds appropriated or otherwise made available under this Act shall be made available to any person or entity that has been convicted of violating chapter 83 of title 41, United States Code. Sec. 608. Except as otherwise provided in this Act, none of the funds provided in this Act, provided by previous appropriations Acts to the agencies or entities funded in this Act that remain available for obligation or expenditure in fiscal year 2025, or provided from any accounts in the Treasury derived by the collection of fees and available to the agencies funded by this Act, shall be available for obligation or expenditure through a reprogramming of funds that: (1) creates a new program; (2) eliminates a program, project, or activity; (3) increases funds or personnel for any program, project, or activity for which funds have been denied or restricted by the Congress; (4) proposes to use funds directed for a specific activity by the Committee on Appropriations of either the House of Representatives or the Senate for a different purpose; (5) augments existing programs, projects, or activities in excess of $5,000,000 or 10 percent, whichever is less; (6) reduces existing programs, projects, or activities by $5,000,000 or 10 percent, whichever is less; or (7) creates or reorganizes offices, programs, or activities unless prior approval is received from the Committees on Appropriations of the House of Representatives and the Senate: Provided, That prior to any significant reorganization, restructuring, relocation, or closing of offices, programs, or activities, each agency or entity funded in this Act shall consult with the Committees on Appropriations of the House of Representatives and the Senate: Provided further, That not later than 60 days after the date of enactment of this Act, each agency funded by this Act shall submit a report to the Committees on Appropriations of the House of Representatives and the Senate to establish the baseline for application of reprogramming and transfer authorities for the current fiscal year: Provided further, That at a minimum the report shall include: (1) a table for each appropriation, detailing both full-time employee equivalents and budget authority, with separate columns to display the prior year enacted level, the President's budget request, adjustments made by Congress, adjustments due to enacted rescissions, if appropriate, and the fiscal year enacted level; (2) a delineation in the table for each appropriation and its respective prior year enacted level by object class and program, project, and activity as detailed in this Act, in the accompanying report, or in the budget appendix for the respective appropriation, whichever is more detailed, and which shall apply to all items for which a dollar amount is specified and to all programs for which new budget authority is provided, as well as to discretionary grants and discretionary grant allocations; and (3) an identification of items of special congressional interest: Provided further, That the amount appropriated or limited for salaries and expenses for an agency shall be reduced by $100,000 per day for each day after the required date that the report has not been submitted to the Congress. Sec. 609. Except as otherwise specifically provided by law, not to exceed 50 percent of unobligated balances remaining available at the end of fiscal year 2025 from appropriations made available for salaries and expenses for fiscal year 2025 in this Act, shall remain available through September 30, 2026, for each such account for the purposes authorized: Provided, That a request shall be submitted to the Committees on Appropriations of the House of Representatives and the Senate for approval prior to the expenditure of such funds: Provided further, That these requests shall be made in compliance with reprogramming guidelines. Sec. 610. (a) None of the funds made available in this Act may be used by the Executive Office of the President to request-- (1) any official background investigation report on any individual from the Federal Bureau of Investigation; or (2) a determination with respect to the treatment of an organization as described in section 501(c) of the Internal Revenue Code of 1986 and exempt from taxation under section 501(a) of such Code from the Department of the Treasury or the Internal Revenue Service. (b) Subsection (a) shall not apply-- (1) in the case of an official background investigation report, if such individual has given express written consent for such request not more than 6 months prior to the date of such request and during the same presidential administration; or (2) if such request is required due to extraordinary circumstances involving national security. Sec. 611. The cost accounting standards promulgated under chapter 15 of title 41, United States Code shall not apply with respect to a contract under the Federal Employees Health Benefits Program established under chapter 89 of title 5, United States Code. Sec. 612. For the purpose of resolving litigation and implementing any settlement agreements regarding the nonforeign area cost-of-living allowance program, the Office of Personnel Management may accept and utilize (without regard to any restriction on unanticipated travel expenses imposed in an appropriations Act) funds made available to the Office of Personnel Management pursuant to court approval. Sec. 613. No funds appropriated by this Act shall be available to pay for an abortion, or the administrative expenses in connection with any health plan under the federal employees health benefits program which provides any benefits or coverage for abortions. Sec. 614. The provision of section 613 shall not apply where the life of the mother would be endangered if the fetus were carried to term, or the pregnancy is the result of an act of rape or incest. Sec. 615. In order to promote Government access to commercial information technology, the restriction on purchasing nondomestic articles, materials, and supplies set forth in chapter 83 of title 41, United States Code (popularly known as the Buy American Act), shall not apply to the acquisition by the Federal Government of information technology (as defined in section 11101 of title 40, United States Code), that is a commercial item (as defined in section 103 of title 41, United States Code). Sec. 616. Notwithstanding section 1353 of title 31, United States Code, no officer or employee of any regulatory agency or commission funded by this Act may accept on behalf of that agency, nor may such agency or commission accept, payment or reimbursement from a non- Federal entity for travel, subsistence, or related expenses for the purpose of enabling an officer or employee to attend and participate in any meeting or similar function relating to the official duties of the officer or employee when the entity offering payment or reimbursement is a person or entity subject to regulation by such agency or commission, or represents a person or entity subject to regulation by such agency or commission, unless the person or entity is an organization described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code. Sec. 617. (a)(1) Notwithstanding any other provision of law, an Executive agency covered by this Act otherwise authorized to enter into contracts for either leases or the construction or alteration of real property for office, meeting, storage, or other space must consult with the General Services Administration before issuing a solicitation for offers of new leases or construction contracts, and in the case of succeeding leases, before entering into negotiations with the current lessor. (2) Any such agency with authority to enter into an emergency lease may do so during any period declared by the President to require emergency leasing authority with respect to such agency. (b) For purposes of this section, the term ``Executive agency covered by this Act'' means any Executive agency provided funds by this Act, but does not include the General Services Administration or the United States Postal Service. Sec. 618. (a) There are appropriated for the following activities the amounts required under current law: (1) Compensation of the President (3 U.S.C. 102). (2) Payments to-- (A) the Judicial Officers' Retirement Fund (28 U.S.C. 377(o)); (B) the Judicial Survivors' Annuities Fund (28 U.S.C. 376(c)); and (C) the United States Court of Federal Claims Judges' Retirement Fund (28 U.S.C. 178(l)). (3) Payment of Government contributions-- (A) with respect to the health benefits of retired employees, as authorized by chapter 89 of title 5, United States Code, and the Retired Federal Employees Health Benefits Act (74 Stat. 849); and (B) with respect to the life insurance benefits for employees retiring after December 31, 1989 (5 U.S.C. ch. 87). (4) Payment to finance the unfunded liability of new and increased annuity benefits under the Civil Service Retirement and Disability Fund (5 U.S.C. 8348). (5) Payment of annuities authorized to be paid from the Civil Service Retirement and Disability Fund by statutory provisions other than subchapter III of chapter 83 or chapter 84 of title 5, United States Code. (b) Nothing in this section may be construed to exempt any amount appropriated by this section from any otherwise applicable limitation on the use of funds contained in this Act. Sec. 619. None of the funds made available in this Act may be used by the Federal Trade Commission to complete the draft report entitled ``Interagency Working Group on Food Marketed to Children: Preliminary Proposed Nutrition Principles to Guide Industry Self-Regulatory Efforts'' unless the Interagency Working Group on Food Marketed to Children complies with Executive Order No. 13563. Sec. 620. (a) The head of each executive branch agency funded by this Act shall ensure that the Chief Information Officer of the agency has the authority to participate in decisions regarding the budget planning process related to information technology. (b) Amounts appropriated for any executive branch agency funded by this Act that are available for information technology shall be allocated within the agency, consistent with the provisions of appropriations Acts and budget guidelines and recommendations from the Director of the Office of Management and Budget, in such manner as specified by, or approved by, the Chief Information Officer of the agency in consultation with the Chief Financial Officer of the agency and budget officials. Sec. 621. None of the funds made available in this Act may be used in contravention of chapter 29, 31, or 33 of title 44, United States Code. Sec. 622. None of the funds made available in this Act may be used by a governmental entity to require the disclosure by a provider of electronic communication service to the public or remote computing service of the contents of a wire or electronic communication that is in electronic storage with the provider (as such terms are defined in sections 2510 and 2711 of title 18, United States Code) in a manner that violates the Fourth Amendment to the Constitution of the United States. Sec. 623. No funds provided in this Act shall be used to deny an Inspector General funded under this Act timely access to any records, documents, or other materials available to the department or agency over which that Inspector General has responsibilities under chapter 4 of title 5, United States Code, or to prevent or impede that Inspector General's access to such records, documents, or other materials, under any provision of law, except a provision of law that expressly refers to the Inspector General and expressly limits the Inspector General's right of access. A department or agency covered by this section shall provide its Inspector General with access to all such records, documents, and other materials in a timely manner. Each Inspector General shall ensure compliance with statutory limitations on disclosure relevant to the information provided by the establishment over which that Inspector General has responsibilities under the chapter 4 of title 5, United States Code. Each Inspector General covered by this section shall report to the Committees on Appropriations of the House of Representatives and the Senate within five calendar days any failures to comply with this requirement. Sec. 624. None of the funds appropriated by this Act may be used by the Federal Communications Commission to modify, amend, or change the rules or regulations of the Commission for universal service high- cost support for competitive eligible telecommunications carriers in a way that is inconsistent with paragraph (e)(5) or (e)(6) of section 54.307 of title 47, Code of Federal Regulations, as in effect on July 15, 2015: Provided, That this section shall not prohibit the Commission from considering, developing, or adopting other support mechanisms as an alternative to Mobility Fund Phase II: Provided further, That any such alternative mechanism shall maintain existing high-cost support to competitive eligible telecommunications carriers until support under such mechanism commences. Sec. 625. (a) None of the funds made available in this Act may be used to maintain or establish a computer network unless such network blocks the viewing, downloading, and exchanging of pornography. (b) Nothing in subsection (a) shall limit the use of funds necessary for any Federal, State, Tribal, or local law enforcement agency or any other entity carrying out criminal investigations, prosecution, adjudication activities, or other law enforcement- or victim assistance-related activity. Sec. 626. None of the funds appropriated or other-wise made available by this Act may be used to pay award or incentive fees for contractors whose performance has been judged to be below satisfactory, behind schedule, over budget, or has failed to meet the basic requirements of a contract, unless the Agency determines that any such deviations are due to unforeseeable events, government-driven scope changes, or are not significant within the overall scope of the project and/or program and unless such awards or incentive fees are consistent with section 16.401(e)(2) of the Federal Acquisition Regulation. Sec. 627. (a) None of the funds made available under this Act may be used to pay for travel and conference activities that result in a total cost to an Executive branch department, agency, board, or commission funded by this Act of more than $500,000 at any single conference unless the agency or entity determines that such attendance is in the national interest and advance notice is transmitted to the Committees on Appropriations of the House of Representatives and the Senate that includes the basis of that determination. (b) None of the funds made available under this Act may be used to pay for the travel to or attendance of more than 50 employees, who are stationed in the United States, at any single conference occurring outside the United States unless the agency or entity determines that such attendance is in the national interest and advance notice is transmitted to the Committees on Appropriations of the House of Representatives and the Senate that includes the basis of that determination. Sec. 628. None of the funds made available by this Act may be used for first-class or business-class travel by the employees of executive branch agencies funded by this Act in contravention of sections 301- 10.122 through 301-10.125 of title 41, Code of Federal Regulations. Sec. 629. In addition to any amounts appropriated or otherwise made available for expenses related to enhancements to www.oversight.gov, $450,000, to remain available until expended, shall be provided for an additional amount for such purpose to the Inspectors General Council Fund established pursuant to section 11(c)(3)(B) of chapter 4 of title 5, United States Code: Provided, That these amounts shall be in addition to any amounts or any authority available to the Council of the Inspectors General on Integrity and Efficiency under section 424 of title 5, United States Code. Sec. 630. None of the funds made available by this Act may be obligated on contracts in excess of $5,000 for public relations, as that term is defined in Office and Management and Budget Circular A-87 (revised May 10, 2004), unless advance notice of such an obligation is transmitted to the Committees on Appropriations of the House of Representatives and the Senate. Sec. 631. Federal agencies funded under this Act shall clearly state within the text, audio, or video used for advertising or educational purposes, including emails or Internet postings, that the communication is printed, published, or produced and disseminated at U.S. taxpayer expense. The funds used by a Federal agency to carry out this requirement shall be derived from amounts made available to the agency for advertising or other communications regarding the programs and activities of the agency. Sec. 632. When issuing statements, press releases, requests for proposals, bid solicitations and other documents describing projects or programs funded in whole or in part with Federal money, all grantees receiving Federal funds included in this Act, shall clearly state-- (1) the percentage of the total costs of the program or project which will be financed with Federal money; (2) the dollar amount of Federal funds for the project or program; and (3) percentage and dollar amount of the total costs of the project or program that will be financed by non-governmental sources. Sec. 633. None of the funds made available by this Act shall be used by the Securities and Exchange Commission to finalize, issue, or implement any rule, regulation, or order regarding the disclosure of political contributions, contributions to tax exempt organizations, or dues paid to trade associations. Sec. 634. Not later than 45 days after the last day of each quarter, each agency funded in this Act shall submit to the Committees on Appropriations of the House of Representatives and the Senate a quarterly budget report that includes total obligations of the Agency for that quarter for each appropriation, by the source year of the appropriation. Sec. 635. None of the funds made available by this Act may be used to procure electric vehicles, electric vehicle batteries, electric vehicle charging stations or infrastructure. Sec. 636. None of the funds appropriated or otherwise made available by this Act may be used to implement, enforce, or otherwise carry out Executive Order No. 14037 of August 5, 2021 (86 Fed. Reg. 43583, relating to Strengthening American Leadership in Clean Cars and Trucks), Executive Order No. 14057 of December 8, 2021 (86 Fed. Reg. 70935, relating to Catalyzing Clean Energy Industries and Jobs through Federal Sustainability), Executive Order No. 14096 of April 21, 2023 (88 Fed. Reg. 25251, relating to Revitalizing Our Nation's Commitment to Environmental Justice for All), Executive Order No. 13990 of January 20, 2021 (86 Fed. Reg. 7037, relating to Protecting Public Health and the Environment and Restoring Science To Tackle the Climate Crisis), Executive Order No. 14008 of January 27, 2021 (86 Fed. Reg. 7619, relating to Tackling the Climate Crisis at Home and Abroad), Executive Order No. 14030 of May 20, 2021 (86 Fed. Reg. 27967, relating to Climate-Related Financial Risk), Executive Order No. 14082 of September 12, 2022 (87 Fed. Reg. 56861, relating to Implementation of the Energy and Infrastructure Provisions of the Inflation Reduction Act of 2022), and section 6 of Executive Order No. 14013 of February 4, 2021 (86 Fed. Reg 8839, relating to Rebuilding and Enhancing Programs To Resettle Refugees and Planning for the Impact of Climate Change on Migration). Sec. 637. None of the funds made available by this Act may be used to carry out any program, project, or activity that promotes or advances Critical Race Theory or any concept associated with Critical Race Theory. Sec. 638. None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, apply, enforce, or carry out the Equity Action Plans of the Department of Treasury, the Federal Communications Commission, the General Services Administration, the Office of Personnel Management or any other Federal agency diversity, equity, or inclusion initiative, as well as Executive Order No. 13985 of January 20, 2021 (86 Fed. Reg. 7009, relating to advancing racial equity and support for underserved communities through the Federal Government), Executive Order No. 14035 of June 21, 2021 (86 Fed. Reg. 34596, relating to diversity, equity, inclusion, and accessibility in the Federal workforce), or Executive Order No. 14091 of February 16, 2023 (88 Fed. Reg. 10825, relating to further advancing racial equity and support for underserved communities through the Federal Government). Sec. 639. None of the funds made available by this Act may be made available to support, directly or indirectly, the Wuhan Institute of Virology, or any laboratory owned or controlled by the governments of the People's Republic of China, the Republic of Cuba, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Russian Federation, the Bolivarian Republic of Venezuela under the regime of Nicolas Maduro Moros, or any other country determined by the Secretary of State to be a foreign adversary. Sec. 640. None of the funds made available by this Act may be used to enforce the requirements in section 316(b)(4)(D) of the Federal Election Campaign Act of 1971 (52 U.S.C. 30118(b)(4)(D)) that the solicitation of contributions from member corporations stockholders and executive or administrative personnel, and the families of such stockholders or personnel, by trade associations must be separately and specifically approved by the member corporation involved prior to such solicitation, and that such member corporation does not approve any such solicitation by more than one such trade association in any calendar year. Sec. 641. (a) In General.--Notwithstanding section 7 of title 1, United States Code, section 1738C of title 28, United States Code, or any other provision of law, none of the funds provided by this Act shall be used in whole or in part to take any discriminatory action against a person, wholly or partially, on the basis that such person speaks, or acts, in accordance with a sincerely held religious belief, or moral conviction, that marriage is, or should be recognized as, a union of one man and one woman. (b) Discriminatory Action Defined.--As used in subsection (a), a discriminatory action means any action taken by the Federal Government to-- (1) alter in any way the Federal tax treatment of, or cause any tax, penalty, or payment to be assessed against, or deny, delay, or revoke an exemption from taxation under section 501(a) of the Internal Revenue Code of 1986 of, any person referred to in subsection (a); (2) disallow a deduction for Federal tax purposes of any charitable contribution made to or by such person; (3) withhold, reduce the amount or funding for, exclude, terminate, or otherwise make unavailable or deny, any Federal grant, contract, subcontract, cooperative agreement, guarantee, loan, scholarship, license, certification, accreditation, employment, or other similar position or status from or to such person; or (4) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny, any entitlement or benefit under a Federal benefit program, including admission to, equal treatment in, or eligibility for a degree from an educational program, from or to such person. (c) Accreditation; Licensure; Certification.--The Federal Government shall consider accredited, licensed, or certified for purposes of Federal law any person that would be accredited, licensed, or certified, respectively, for such purposes but for a determination against such person wholly or partially on the basis that the person speaks, or acts, in accordance with a sincerely held religious belief or moral conviction described in subsection (a). Sec. 642. None of the funds made available by this Act may be used to develop, finalize, or implement the proposed regulation titled Revising Scope of the Mining Sector of Projects that are Eligible for Coverage Under title 41 of the Fixing America's Surface Transportation Act (88 Fed. Reg. 65350 (Sept. 22, 2023)). Sec. 643. The Postmaster General of the United States Postal Service shall notify in writing any Member of Congress at least 30 days before the Postal Service releases any stamp (including special stamps, semipostal stamps, and any other stamp) depicting a landmark in, a significant event or commemoration of an event that occurred in, or an individual from, in the case of a Member of the House of Representatives, the district or State the Member represents or, in the case of a Senator, the State the Senator represents. In this section, the term ``Member of Congress'' has the meaning given that term in section 2106 of title 5, United States Code, but does not include the Vice President. Sec. 644. None of the funds made available by this Act may be used to fly or display a flag over or within a facility of the Federal Government other than the flag of the United States, a flag bearing an official U.S. Government seal or insignia, or the Prisoner of War/ Missing in Action flag. Sec. 645. (a) None of the funds appropriated or otherwise made available to the United States Postal Service by this Act may be used to prevent any of the following persons from entering, for the purpose of conducting oversight, any facility owned or leased by the United States Postal Service used for the delivery of letters, printed materials, or mailable packages, including acceptance, collection, sorting, transportation, or other functions ancillary thereto, or to make any temporary modification at any such facility that in any way alters what is observed by a visiting member of Congress or such designated employee, compared to what would be observed in the absence of such modification: (1) A Member of Congress. (2) An employee of the United States House of Representatives or the United States Senate designated by such a Member for the purposes of this section. (b) Nothing in this section may be construed to require a Member of Congress to provide prior notice of the intent to enter a facility described in subsection (a) for the purpose of conducting oversight. TITLE VII GENERAL PROVISIONS--GOVERNMENT-WIDE Departments, Agencies, and Corporations (including transfers of funds) Sec. 701. No department, agency, or instrumentality of the United States receiving appropriated funds under this or any other Act for fiscal year 2025 shall obligate or expend any such funds, unless such department, agency, or instrumentality has in place, and will continue to administer in good faith, a written policy designed to ensure that all of its workplaces are free from the illegal use, possession, or distribution of controlled substances (as defined in the Controlled Substances Act (21 U.S.C. 802)) by the officers and employees of such department, agency, or instrumentality. Sec. 702. Unless otherwise specifically provided, the maximum amount allowable during the current fiscal year in accordance with section 1343(c) of title 31, United States Code, for the purchase of any passenger motor vehicle (exclusive of buses, ambulances, vans, law enforcement vehicles, protective vehicles, undercover surveillance vehicles, and police type), is hereby fixed at $40,000 except station wagons for which the maximum shall be $41,140: Provided, That these limits may be exceeded by not to exceed $7,775 for police-type vehicles: Provided further, That the limits set forth in this section may not be exceeded by more than 5 percent for electric or hybrid vehicles purchased for demonstration under the provisions of the Electric and Hybrid Vehicle Research, Development, and Demonstration Act of 1976: Provided further, That the limits set forth in this section may be exceeded by the incremental cost of clean alternative fuels vehicles acquired pursuant to Public Law 101-549 over the cost of comparable conventionally fueled vehicles: Provided further, That the limits set forth in this section shall not apply to any vehicle that is a commercial item and which operates on alternative fuel, including but not limited to electric, plug-in hybrid electric, and hydrogen fuel cell vehicles. Sec. 703. Appropriations of the executive departments and independent establishments for the current fiscal year available for expenses of travel, or for the expenses of the activity concerned, are hereby made available for quarters allowances and cost-of-living allowances, in accordance with 5 U.S.C. 5922-5924. Sec. 704. Unless otherwise specified in law during the current fiscal year, no part of any appropriation contained in this or any other Act shall be used to pay the compensation of any officer or employee of the Government of the United States (including any agency the majority of the stock of which is owned by the Government of the United States) whose post of duty is in the continental United States unless such person: (1) is a citizen of the United States; (2) is a person who is lawfully admitted for permanent residence and is seeking citizenship as outlined in 8 U.S.C. 1324b(a)(3)(B); (3) is a person who is admitted as a refugee under 8 U.S.C. 1157 or is granted asylum under 8 U.S.C. 1158 and has filed a declaration of intention to become a lawful permanent resident and then a citizen when eligible; or (4) is a person who owes allegiance to the United States: Provided, That for purposes of this section, affidavits signed by any such person shall be considered prima facie evidence that the requirements of this section with respect to his or her status are being complied with: Provided further, That for purposes of paragraphs (2) and (3) such affidavits shall be submitted prior to employment and updated thereafter as necessary: Provided further, That any person making a false affidavit shall be guilty of a felony, and upon conviction, shall be fined no more than $4,000 or imprisoned for not more than 1 year, or both: Provided further, That the above penal clause shall be in addition to, and not in substitution for, any other provisions of existing law: Provided further, That any payment made to any officer or employee contrary to the provisions of this section shall be recoverable in action by the Federal Government: Provided further, That this section shall not apply to any person who is an officer or employee of the Government of the United States on the date of enactment of this Act, or to international broadcasters employed by the Broadcasting Board of Governors, or to temporary employment of translators, or to temporary employment in the field service (not to exceed 60 days) as a result of emergencies: Provided further, That this section does not apply to the employment as Wildland firefighters for not more than 120 days of nonresident aliens employed by the Department of the Interior or the USDA Forest Service pursuant to an agreement with another country. Sec. 705. Appropriations available to any department or agency during the current fiscal year for necessary expenses, including maintenance or operating expenses, shall also be available for payment to the General Services Administration for charges for space and services and those expenses of renovation and alteration of buildings and facilities which constitute public improvements performed in accordance with the Public Buildings Act of 1959 (73 Stat. 479), the Public Buildings Amendments of 1972 (86 Stat. 216), or other applicable law. Sec. 706. In addition to funds provided in this or any other Act, all Federal agencies are authorized to receive and use funds resulting from the sale of materials, including Federal records disposed of pursuant to a records schedule recovered through recycling or waste prevention programs. Such funds shall be available until expended for the following purposes: (1) Acquisition, waste reduction and prevention, and recycling programs as described in Executive Order No. 14057 (December 8, 2021), including any such programs adopted prior to the effective date of the Executive order. (2) Other Federal agency environmental management programs, including, but not limited to, the development and implementation of hazardous waste management and pollution prevention programs. (3) Other employee programs as authorized by law or as deemed appropriate by the head of the Federal agency. Sec. 707. Funds made available by this or any other Act for administrative expenses in the current fiscal year of the corporations and agencies subject to chapter 91 of title 31, United States Code, shall be available, in addition to objects for which such funds are otherwise available, for rent in the District of Columbia; services in accordance with 5 U.S.C. 3109; and the objects specified under this head, all the provisions of which shall be applicable to the expenditure of such funds unless otherwise specified in the Act by which they are made available: Provided, That in the event any functions budgeted as administrative expenses are subsequently transferred to or paid from other funds, the limitations on administrative expenses shall be correspondingly reduced. Sec. 708. No part of any appropriation contained in this or any other Act shall be available for interagency financing of boards (except Federal Executive Boards), commissions, councils, committees, or similar groups (whether or not they are interagency entities) which do not have a prior and specific statutory approval to receive financial support from more than one agency or instrumentality. Sec. 709. None of the funds made available pursuant to the provisions of this or any other Act shall be used to implement, administer, or enforce any regulation which has been disapproved pursuant to a joint resolution duly adopted in accordance with the applicable law of the United States. Sec. 710. During the period in which the head of any department or agency, or any other officer or civilian employee of the Federal Government appointed by the President of the United States, holds office, no funds may be obligated or expended in excess of $5,000 to furnish or redecorate the office of such department head, agency head, officer, or employee, or to purchase furniture or make improvements for any such office, unless advance notice of such furnishing or redecoration is transmitted to the Committees on Appropriations of the House of Representatives and the Senate. For the purposes of this section, the term ``office'' shall include the entire suite of offices assigned to the individual, as well as any other space used primarily by the individual or the use of which is directly controlled by the individual. Sec. 711. Notwithstanding 31 U.S.C. 1346, or section 708 of this Act, funds made available for the current fiscal year by this or any other Act shall be available for the interagency funding of national security and emergency preparedness telecommunications initiatives which benefit multiple Federal departments, agencies, or entities, as provided by Executive Order No. 13618 (July 6, 2012). Sec. 712. (a) None of the funds made available by this or any other Act may be obligated or expended by any department, agency, or other instrumentality of the Federal Government to pay the salaries or expenses of any individual appointed to a position of a confidential or policy-determining character that is excepted from the competitive service under section 3302 of title 5, United States Code, (pursuant to schedule C of subpart C of part 213 of title 5 of the Code of Federal Regulations) unless the head of the applicable department, agency, or other instrumentality employing such schedule C individual certifies to the Director of the Office of Personnel Management that the schedule C position occupied by the individual was not created solely or primarily in order to detail the individual to the White House. (b) The provisions of this section shall not apply to Federal employees or members of the armed forces detailed to or from an element of the intelligence community (as that term is defined under section 3(4) of the National Security Act of 1947 (50 U.S.C. 3003(4))). Sec. 713. No part of any appropriation contained in this or any other Act shall be available for the payment of the salary of any officer or employee of the Federal Government, who-- (1) prohibits or prevents, or attempts or threatens to prohibit or prevent, any other officer or employee of the Federal Government from having any direct oral or written communication or contact with any Member, committee, or subcommittee of the Congress in connection with any matter pertaining to the employment of such other officer or employee or pertaining to the department or agency of such other officer or employee in any way, irrespective of whether such communication or contact is at the initiative of such other officer or employee or in response to the request or inquiry of such Member, committee, or subcommittee; or (2) removes, suspends from duty without pay, demotes, reduces in rank, seniority, status, pay, or performance or efficiency rating, denies promotion to, relocates, reassigns, transfers, disciplines, or discriminates in regard to any employment right, entitlement, or benefit, or any term or condition of employment of, any other officer or employee of the Federal Government, or attempts or threatens to commit any of the foregoing actions with respect to such other officer or employee, by reason of any communication or contact of such other officer or employee with any Member, committee, or subcommittee of the Congress as described in paragraph (1); (3) unjustifiably refuses to comply with a duly issued and valid congressional subpoena. Sec. 714. (a) None of the funds made available in this or any other Act may be obligated or expended for any employee training that-- (1) does not meet identified needs for knowledge, skills, and abilities bearing directly upon the performance of official duties; (2) contains elements likely to induce high levels of emotional response or psychological stress in some participants; (3) does not require prior employee notification of the content and methods to be used in the training and written end of course evaluation; (4) contains any methods or content associated with religious or quasi-religious belief systems or ``new age'' belief systems as defined in Equal Employment Opportunity Commission Notice N-915.022, dated September 2, 1988; or (5) is offensive to, or designed to change, participants' personal values or lifestyle outside the workplace. (b) Nothing in this section shall prohibit, restrict, or otherwise preclude an agency from conducting training bearing directly upon the performance of official duties. Sec. 715. No part of any funds appropriated in this or any other Act shall be used by an agency of the executive branch, other than for normal and recognized executive-legislative relationships, for publicity or propaganda purposes, and for the preparation, distribution or use of any kit, pamphlet, booklet, publication, radio, television, or film presentation designed to support or defeat legislation pending before the Congress, except in presentation to the Congress itself. Sec. 716. None of the funds appropriated by this or any other Act may be used by an agency to provide a Federal employee's home address to any labor organization except when the employee has authorized such disclosure or when such disclosure has been ordered by a court of competent jurisdiction. Sec. 717. None of the funds made available in this or any other Act may be used to provide any non-public information such as mailing, telephone, or electronic mailing lists to any person or any organization outside of the Federal Government without the approval of the Committees on Appropriations of the House of Representatives and the Senate. Sec. 718. No part of any appropriation contained in this or any other Act shall be used directly or indirectly, including by private contractor, for publicity or propaganda purposes within the United States not heretofore authorized by Congress. Sec. 719. (a) In this section, the term ``agency''-- (1) means an Executive agency, as defined under 5 U.S.C. 105; (2) includes a military department, as defined under section 102 of such title and includes the United States Postal Service. (b) Unless authorized in accordance with law or regulations to use such time for other purposes, an employee of an agency shall use official time in an honest effort to perform official duties. An employee not under a leave system, including a Presidential appointee exempted under 5 U.S.C. 6301(2), has an obligation to expend an honest effort and a reasonable proportion of such employee's time in the performance of official duties. Sec. 720. Notwithstanding 31 U.S.C. 1346 and section 708 of this Act, funds made available for the current fiscal year by this or any other Act to any department or agency, which is a member of the Federal Accounting Standards Advisory Board (FASAB), shall be available to finance an appropriate share of FASAB administrative costs. Sec. 721. Notwithstanding 31 U.S.C. 1346 and section 708 of this Act, the head of each Executive department and agency is hereby authorized to transfer to or reimburse ``General Services Administration, Government-wide Policy'' with the approval of the Director of the Office of Management and Budget, funds made available for the current fiscal year by this or any other Act, including rebates from charge card and other contracts: Provided, That these funds shall be administered by the Administrator of General Services to support Government-wide and other multi-agency financial, information technology, procurement, and other management innovations, initiatives, and activities, including improving coordination and reducing duplication, as approved by the Director of the Office of Management and Budget, in consultation with the appropriate interagency and multi- agency groups designated by the Director (including the President's Management Council for overall management improvement initiatives, the Chief Financial Officers Council for financial management initiatives, the Chief Information Officers Council for information technology initiatives, the Chief Human Capital Officers Council for human capital initiatives, the Chief Acquisition Officers Council for procurement initiatives, and the Performance Improvement Council for performance improvement initiatives): Provided further, That the total funds transferred or reimbursed shall not exceed $15,000,000 to improve coordination, reduce duplication, and for other activities related to Federal Government Priority Goals established by 31 U.S.C. 1120, and not to exceed $17,000,000 for Government-wide innovations, initiatives, and activities: Provided further, That the funds transferred to or for reimbursement of ``General Services Administration, Government-Wide Policy'' during fiscal year 2025 shall remain available for obligation through September 30, 2026: Provided further, That not later than 90 days after enactment of this Act, the Director of the Office of Management and Budget, in consultation with the Administrator of General Services, shall submit to the Committees on Appropriations of the House of Representatives and the Senate, the Committee on Homeland Security and Governmental Affairs of the Senate, and the Committee on Oversight and Accountability of the House of Representatives a detailed spend plan for the funds to be transferred or reimbursed: Provided further, That the spend plan shall, at a minimum, include: (i) the amounts currently in the funds authorized under this section and the estimate of amounts to be transferred or reimbursed in fiscal year 2025; (ii) a detailed breakdown of the purposes for all funds estimated to be transferred or reimbursed pursuant to this section (including total number of personnel and costs for all staff whose salaries are provided for by this section); (iii) where applicable, a description of the funds intended for use by or for the benefit of each executive council; and (iv) where applicable, a description of the funds intended for use by or for the implementation of specific laws passed by Congress: Provided further, That no transfers or reimbursements may be made pursuant to this section until 15 days following notification of the Committees on Appropriations of the House of Representatives and the Senate by the Director of the Office of Management and Budget. Sec. 722. Notwithstanding any other provision of law, a woman may breastfeed her child at any location in a Federal building or on Federal property, if the woman and her child are otherwise authorized to be present at the location. Sec. 723. Notwithstanding 31 U.S.C. 1346, or section 708 of this Act, funds made available for the current fiscal year by this or any other Act shall be available for the interagency funding of specific projects, workshops, studies, and similar efforts to carry out the purposes of the National Science and Technology Council (authorized by Executive Order No. 12881), which benefit multiple Federal departments, agencies, or entities: Provided, That the Office of Management and Budget shall provide a report describing the budget of and resources connected with the National Science and Technology Council to the Committees on Appropriations of the House of Representatives and the Senate, the House Committee on Science, Space, and Technology, and the Senate Committee on Commerce, Science, and Transportation 90 days after enactment of this Act. Sec. 724. Any request for proposals, solicitation, grant application, form, notification, press release, or other publications involving the distribution of Federal funds shall comply with any relevant requirements in part 200 of title 2, Code of Federal Regulations: Provided, That this section shall apply to direct payments, formula funds, and grants received by a State receiving Federal funds. Sec. 725. (a) Prohibition of Federal Agency Monitoring of Individuals' Internet Use.--None of the funds made available in this or any other Act may be used by any Federal agency-- (1) to collect, review, or create any aggregation of data, derived from any means, that includes any personally identifiable information relating to an individual's access to or use of any Federal Government Internet site of the agency; or (2) to enter into any agreement with a third party (including another government agency) to collect, review, or obtain any aggregation of data, derived from any means, that includes any personally identifiable information relating to an individual's access to or use of any nongovernmental Internet site. (b) Exceptions.--The limitations established in subsection (a) shall not apply to-- (1) any record of aggregate data that does not identify particular persons; (2) any voluntary submission of personally identifiable information; (3) any action taken for law enforcement, regulatory, or supervisory purposes, in accordance with applicable law; or (4) any action described in subsection (a)(1) that is a system security action taken by the operator of an Internet site and is necessarily incident to providing the Internet site services or to protecting the rights or property of the provider of the Internet site. (c) Definitions.--For the purposes of this section: (1) The term ``regulatory'' means agency actions to implement, interpret, or enforce authorities provided in law. (2) The term ``supervisory'' means examinations of the agency's supervised institutions, including assessing safety and soundness, overall financial condition, management practices and policies and compliance with applicable standards as provided in law. Sec. 726. (a) None of the funds appropriated by this Act may be used to enter into or renew a contract which includes a provision providing prescription drug coverage, except where the contract also includes a provision for contraceptive coverage. (b) Nothing in this section shall apply to a contract with-- (1) any of the following religious plans: (A) Personal Care's HMO; and (B) OSF HealthPlans, Inc.; and (2) any existing or future plan, if the carrier for the plan objects to such coverage on the basis of religious beliefs. (c) In implementing this section, any plan that enters into or renews a contract under this section may not subject any individual to discrimination on the basis that the individual refuses to prescribe or otherwise provide for contraceptives because such activities would be contrary to the individual's religious beliefs or moral convictions. (d) Nothing in this section shall be construed to require coverage of abortion or abortion-related services. Sec. 727. The United States is committed to ensuring the health of its Olympic, Pan American, and Paralympic athletes, and supports the strict adherence to anti-doping in sport through testing, adjudication, education, and research as performed by nationally recognized oversight authorities. Sec. 728. Notwithstanding any other provision of law, funds appropriated for official travel to Federal departments and agencies may be used by such departments and agencies, if consistent with Office of Management and Budget Circular A-126 regarding official travel for Government personnel, to participate in the fractional aircraft ownership pilot program. Sec. 729. Notwithstanding any other provision of law, none of the funds appropriated or made available under this or any other appropriations Act may be used to implement or enforce restrictions or limitations on the Coast Guard Congressional Fellowship Program, or to implement the proposed regulations of the Office of Personnel Management to add sections 300.311 through 300.316 to part 300 of title 5 of the Code of Federal Regulations, published in the Federal Register, volume 68, number 174, on September 9, 2003 (relating to the detail of executive branch employees to the legislative branch). Sec. 730. Notwithstanding any other provision of law, no executive branch agency shall purchase, construct, or lease any additional facilities, except within or contiguous to existing locations, to be used for the purpose of conducting Federal law enforcement training without the advance approval of the Committees on Appropriations of the House of Representatives and the Senate, except that the Federal Law Enforcement Training Centers is authorized to obtain the temporary use of additional facilities by lease, contract, or other agreement for training which cannot be accommodated in existing Centers facilities. Sec. 731. Unless otherwise authorized by existing law, none of the funds provided in this or any other Act may be used by an executive branch agency to produce any prepackaged news story intended for broadcast or distribution in the United States, unless the story includes a clear notification within the text or audio of the prepackaged news story that the prepackaged news story was prepared or funded by that executive branch agency. Sec. 732. None of the funds made available in this Act may be used in contravention of section 552a of title 5, United States Code (popularly known as the Privacy Act), and regulations implementing that section. Sec. 733. (a) In General.--None of the funds appropriated or otherwise made available by this or any other Act may be used for any Federal Government contract with any foreign incorporated entity which is treated as an inverted domestic corporation under section 835(b) of the Homeland Security Act of 2002 (6 U.S.C. 395(b)) or any subsidiary of such an entity. (b) Waivers.-- (1) In general.--Any Secretary shall waive subsection (a) with respect to any Federal Government contract under the authority of such Secretary if the Secretary determines that the waiver is required in the interest of national security. (2) Report to congress.--Any Secretary issuing a waiver under paragraph (1) shall report such issuance to Congress. (c) Exception.--This section shall not apply to any Federal Government contract entered into before the date of the enactment of this Act, or to any task order issued pursuant to such contract. Sec. 734. During fiscal year 2025, for each employee who-- (1) retires under section 8336(d)(2) or 8414(b)(1)(B) of title 5, United States Code; or (2) retires under any other provision of subchapter III of chapter 83 or chapter 84 of such title 5 and receives a payment as an incentive to separate, the separating agency shall remit to the Civil Service Retirement and Disability Fund an amount equal to the Office of Personnel Management's average unit cost of processing a retirement claim for the preceding fiscal year. Such amounts shall be available until expended to the Office of Personnel Management and shall be deemed to be an administrative expense under section 8348(a)(1)(B) of title 5, United States Code. Sec. 735. (a) None of the funds made available in this or any other Act may be used to recommend or require any entity submitting an offer for a Federal contract to disclose any of the following information as a condition of submitting the offer: (1) Any payment consisting of a contribution, expenditure, independent expenditure, or disbursement for an electioneering communication that is made by the entity, its officers or directors, or any of its affiliates or subsidiaries to a candidate for election for Federal office or to a political committee, or that is otherwise made with respect to any election for Federal office. (2) Any disbursement of funds (other than a payment described in paragraph (1)) made by the entity, its officers or directors, or any of its affiliates or subsidiaries to any person with the intent or the reasonable expectation that the person will use the funds to make a payment described in paragraph (1). (b) In this section, each of the terms ``contribution'', ``expenditure'', ``independent expenditure'', ``electioneering communication'', ``candidate'', ``election'', and ``Federal office'' has the meaning given such term in the Federal Election Campaign Act of 1971 (52 U.S.C. 30101 et seq.). Sec. 736. None of the funds made available in this or any other Act may be used to pay for the painting of a portrait of an officer or employee of the Federal Government, including the President, the Vice President, a Member of Congress (including a Delegate or a Resident Commissioner to Congress), the head of an executive branch agency (as defined in section 133 of title 41, United States Code), or the head of an office of the legislative branch. Sec. 737. (a)(1) Notwithstanding any other provision of law, and except as otherwise provided in this section, no part of any of the funds appropriated for fiscal year 2025, by this or any other Act, may be used to pay any prevailing rate employee described in section 5342(a)(2)(A) of title 5, United States Code-- (A) during the period from the date of expiration of the limitation imposed by the comparable section for the previous fiscal years until the normal effective date of the applicable wage survey adjustment that is to take effect in fiscal year 2025, in an amount that exceeds the rate payable for the applicable grade and step of the applicable wage schedule in accordance with such section; and (B) during the period consisting of the remainder of fiscal year 2025, in an amount that exceeds, as a result of a wage survey adjustment, the rate payable under subparagraph (A) by more than the sum of-- (i) the percentage adjustment taking effect in fiscal year 2025 under section 5303 of title 5, United States Code, in the rates of pay under the General Schedule; and (ii) the difference between the overall average percentage of the locality-based comparability payments taking effect in fiscal year 2025 under section 5304 of such title (whether by adjustment or otherwise), and the overall average percentage of such payments which was effective in the previous fiscal year under such section. (2) Notwithstanding any other provision of law, no prevailing rate employee described in subparagraph (B) or (C) of section 5342(a)(2) of title 5, United States Code, and no employee covered by section 5348 of such title, may be paid during the periods for which paragraph (1) is in effect at a rate that exceeds the rates that would be payable under paragraph (1) were paragraph (1) applicable to such employee. (3) For the purposes of this subsection, the rates payable to an employee who is covered by this subsection and who is paid from a schedule not in existence on September 30, 2024, shall be determined under regulations prescribed by the Office of Personnel Management. (4) Notwithstanding any other provision of law, rates of premium pay for employees subject to this subsection may not be changed from the rates in effect on September 30, 2024, except to the extent determined by the Office of Personnel Management to be consistent with the purpose of this subsection. (5) This subsection shall apply with respect to pay for service performed after September 30, 2024. (6) For the purpose of administering any provision of law (including any rule or regulation that provides premium pay, retirement, life insurance, or any other employee benefit) that requires any deduction or contribution, or that imposes any requirement or limitation on the basis of a rate of salary or basic pay, the rate of salary or basic pay payable after the application of this subsection shall be treated as the rate of salary or basic pay. (7) Nothing in this subsection shall be considered to permit or require the payment to any employee covered by this subsection at a rate in excess of the rate that would be payable were this subsection not in effect. (8) The Office of Personnel Management may provide for exceptions to the limitations imposed by this subsection if the Office determines that such exceptions are necessary to ensure the recruitment or retention of qualified employees. (b) Notwithstanding subsection (a), the adjustment in rates of basic pay for the statutory pay systems that take place in fiscal year 2025 under sections 5344 and 5348 of title 5, United States Code, shall be-- (1) not less than the percentage received by employees in the same location whose rates of basic pay are adjusted pursuant to the statutory pay systems under sections 5303 and 5304 of title 5, United States Code: Provided, That prevailing rate employees at locations where there are no employees whose pay is increased pursuant to sections 5303 and 5304 of title 5, United States Code, and prevailing rate employees described in section 5343(a)(5) of title 5, United States Code, shall be considered to be located in the pay locality designated as ``Rest of United States'' pursuant to section 5304 of title 5, United States Code, for purposes of this subsection; and (2) effective as of the first day of the first applicable pay period beginning after September 30, 2024. Sec. 738. (a) The head of any Executive branch department, agency, board, commission, or office funded by this or any other appropriations Act shall submit annual reports to the Inspector General or senior ethics official for any entity without an Inspector General, regarding the costs and contracting procedures related to each conference held by any such department, agency, board, commission, or office during fiscal year 2025 for which the cost to the United States Government was more than $100,000. (b) Each report submitted shall include, for each conference described in subsection (a) held during the applicable period-- (1) a description of its purpose; (2) the number of participants attending; (3) a detailed statement of the costs to the United States Government, including-- (A) the cost of any food or beverages; (B) the cost of any audio-visual services; (C) the cost of employee or contractor travel to and from the conference; and (D) a discussion of the methodology used to determine which costs relate to the conference; and (4) a description of the contracting procedures used including-- (A) whether contracts were awarded on a competitive basis; and (B) a discussion of any cost comparison conducted by the departmental component or office in evaluating potential contractors for the conference. (c) Within 15 days after the end of a quarter, the head of any such department, agency, board, commission, or office shall notify the Inspector General or senior ethics official for any entity without an Inspector General, of the date, location, and number of employees attending a conference held by any Executive branch department, agency, board, commission, or office funded by this or any other appropriations Act during fiscal year 2025 for which the cost to the United States Government was more than $20,000. (d) A grant or contract funded by amounts appropriated by this or any other appropriations Act may not be used for the purpose of defraying the costs of a conference described in subsection (c) that is not directly and programmatically related to the purpose for which the grant or contract was awarded, such as a conference held in connection with planning, training, assessment, review, or other routine purposes related to a project funded by the grant or contract. (e) None of the funds made available in this or any other appropriations Act may be used for travel and conference activities that are not in compliance with Office of Management and Budget Memorandum M-12-12 dated May 11, 2012 or any subsequent revisions to that memorandum. Sec. 739. None of the funds made available in this or any other appropriations Act may be used to increase, eliminate, or reduce funding for a program, project, or activity as proposed in the President's budget request for a fiscal year until such proposed change is subsequently enacted in an appropriation Act, or unless such change is made pursuant to the reprogramming or transfer provisions of this or any other appropriations Act. Sec. 740. None of the funds made available by this or any other Act may be used to implement, administer, enforce, or apply the rule entitled ``Competitive Area'' published by the Office of Personnel Management in the Federal Register on April 15, 2008 (73 Fed. Reg. 20180 et seq.). Sec. 741. None of the funds appropriated or otherwise made available by this or any other Act may be used to begin or announce a study or public-private competition regarding the conversion to contractor performance of any function performed by Federal employees pursuant to Office of Management and Budget Circular A-76 or any other administrative regulation, directive, or policy. Sec. 742. (a) None of the funds appropriated or otherwise made available by this or any other Act may be available for a contract, grant, or cooperative agreement with an entity that requires employees or contractors of such entity seeking to report fraud, waste, or abuse to sign internal confidentiality agreements or statements prohibiting or otherwise restricting such employees or contractors from lawfully reporting such waste, fraud, or abuse to a designated investigative or law enforcement representative of a Federal department or agency authorized to receive such information. (b) The limitation in subsection (a) shall not contravene requirements applicable to Standard Form 312, Form 4414, or any other form issued by a Federal department or agency governing the nondisclosure of classified information. Sec. 743. (a) No funds appropriated in this or any other Act may be used to implement or enforce the agreements in Standard Forms 312 and 4414 of the Government or any other nondisclosure policy, form, or agreement if such policy, form, or agreement does not contain the following provisions: ``These provisions are consistent with and do not supersede, conflict with, or otherwise alter the employee obligations, rights, or liabilities created by existing statute or Executive order relating to (1) classified information, (2) communications to Congress, (3) the reporting to an Inspector General or the Office of Special Counsel of a violation of any law, rule, or regulation, or mismanagement, a gross waste of funds, an abuse of authority, or a substantial and specific danger to public health or safety, or (4) any other whistleblower protection. The definitions, requirements, obligations, rights, sanctions, and liabilities created by controlling Executive orders and statutory provisions are incorporated into this agreement and are controlling.'': Provided, That notwithstanding the preceding provision of this section, a nondisclosure policy form or agreement that is to be executed by a person connected with the conduct of an intelligence or intelligence-related activity, other than an employee or officer of the United States Government, may contain provisions appropriate to the particular activity for which such document is to be used. Such form or agreement shall, at a minimum, require that the person will not disclose any classified information received in the course of such activity unless specifically authorized to do so by the United States Government. Such nondisclosure forms shall also make it clear that they do not bar disclosures to Congress, or to an authorized official of an executive agency or the Department of Justice, that are essential to reporting a substantial violation of law. (b) A nondisclosure agreement may continue to be implemented and enforced notwithstanding subsection (a) if it complies with the requirements for such agreement that were in effect when the agreement was entered into. (c) No funds appropriated in this or any other Act may be used to implement or enforce any agreement entered into during fiscal year 2014 which does not contain substantially similar language to that required in subsection (a). Sec. 744. None of the funds made available by this or any other Act may be used to enter into a contract, memorandum of understanding, or cooperative agreement with, make a grant to, or provide a loan or loan guarantee to, any corporation that has any unpaid Federal tax liability that has been assessed, for which all judicial and administrative remedies have been exhausted or have lapsed, and that is not being paid in a timely manner pursuant to an agreement with the authority responsible for collecting the tax liability, where the awarding agency is aware of the unpaid tax liability, unless a Federal agency has considered suspension or debarment of the corporation and has made a determination that this further action is not necessary to protect the interests of the Government. Sec. 745. None of the funds made available by this or any other Act may be used to enter into a contract, memorandum of understanding, or cooperative agreement with, make a grant to, or provide a loan or loan guarantee to, any corporation that was convicted of a felony criminal violation under any Federal law within the preceding 24 months, where the awarding agency is aware of the conviction, unless a Federal agency has considered suspension or debarment of the corporation and has made a determination that this further action is not necessary to protect the interests of the Government. Sec. 746. (a) Notwithstanding any official rate adjusted under section 104 of title 3, United States Code, the rate payable to the Vice President during calendar year 2025 shall be the rate payable to the Vice President on December 31, 2024, by operation of section 747 of division B of Public Law 118-47. (b) Notwithstanding any official rate adjusted under section 5318 of title 5, United States Code, or any other provision of law, the payable rate during calendar year 2025 for an employee serving in an Executive Schedule position, or in a position for which the rate of pay is fixed by statute at an Executive Schedule rate, shall be the rate payable for the applicable Executive Schedule level on December 31, 2024, by operation of section 747 of division B of Public Law 118-47. Such an employee may not receive a rate increase during calendar year 2025, except as provided in subsection (i). (c) Notwithstanding section 401 of the Foreign Service Act of 1980 (Public Law 96-465) or any other provision of law, a chief of mission or ambassador at large is subject to subsection (b) in the same manner as other employees who are paid at an Executive Schedule rate. (d)(1) This subsection applies to-- (A) a noncareer appointee in the Senior Executive Service paid a rate of basic pay at or above the official rate for level IV of the Executive Schedule; or (B) a limited term appointee or limited emergency appointee in the Senior Executive Service serving under a political appointment and paid a rate of basic pay at or above the official rate for level IV of the Executive Schedule. (2) Notwithstanding sections 5382 and 5383 of title 5, United States Code, an employee described in paragraph (1) may not receive a pay rate increase during calendar year 2025, except as provided in subsection (i). (e) Notwithstanding any other provision of law, any employee paid a rate of basic pay (including any locality based payments under section 5304 of title 5, United States Code, or similar authority) at or above the official rate for level IV of the Executive Schedule who serves under a political appointment may not receive a pay rate increase during calendar year 2025, except as provided in subsection (i). This subsection does not apply to employees in the General Schedule pay system or the Foreign Service pay system, to employees appointed under section 3161 of title 5, United States Code, or to employees in another pay system whose position would be classified at GS-15 or below if chapter 51 of title 5, United States Code, applied to them. (f) Nothing in subsections (b) through (e) shall prevent employees who do not serve under a political appointment from receiving pay increases as otherwise provided under applicable law. (g) This section does not apply to an individual who makes an election to retain Senior Executive Service basic pay under section 3392(c) of title 5, United States Code, for such time as that election is in effect. (h) This section does not apply to an individual who makes an election to retain Senior Foreign Service pay entitlements under section 302(b) of the Foreign Service Act of 1980 (Public Law 96-465) for such time as that election is in effect. (i) Notwithstanding subsections (b) through (e), an employee in a covered position may receive a pay rate increase upon an authorized movement to a different covered position only if that new position has higher-level duties and a pre-established level or range of pay higher than the level or range for the position held immediately before the movement. Any such increase must be based on the rates of pay and applicable limitations on payable rates of pay in effect on December 31, 2024, by operation of section 747 of division B of Public Law 118- 47. (j) Notwithstanding any other provision of law, for an individual who is newly appointed to a covered position during the period of time subject to this section, the initial pay rate shall be based on the rates of pay and applicable limitations on payable rates of pay in effect on December 31, 2024, by operation of section 747 of division B of Public Law 118-47. (k) If an employee affected by this section is subject to a biweekly pay period that begins in calendar year 2025 but ends in calendar year 2026, the bar on the employee's receipt of pay rate increases shall apply through the end of that pay period. (l) For the purpose of this section, the term ``covered position'' means a position occupied by an employee whose pay is restricted under this section. (m) This section takes effect on the first day of the first applicable pay period beginning on or after January 1, 2025. Sec. 747. In the event of a violation of the Impoundment Control Act of 1974, the President or the head of the relevant department or agency, as the case may be, shall report immediately to the Congress all relevant facts and a statement of actions taken: Provided, That a copy of each report shall also be transmitted to the Committees on Appropriations of the House of Representatives and the Senate and the Comptroller General on the same date the report is transmitted to the Congress. Sec. 748. (a) Each department or agency of the executive branch of the United States Government shall notify the Committees on Appropriations and the Budget of the House of Representatives and the Senate and any other appropriate congressional committees if-- (1) an apportionment is not made in the required time period provided in section 1513(b) of title 31, United States Code; (2) an approved apportionment received by the department or agency conditions the availability of an appropriation on further action; or (3) an approved apportionment received by the department or agency may hinder the prudent obligation of such appropriation or the execution of a program, project, or activity by such department or agency. (b) Any notification submitted to a congressional committee pursuant to this section shall contain information identifying the bureau, account name, appropriation name, and Treasury Appropriation Fund Symbol or fund account. Sec. 749. Notwithstanding section 1346 of title 31, United States Code, or section 708 of this Act, funds made available by this or any other Act to any Federal agency may be used by that Federal agency for interagency funding for coordination with, participation in, or recommendations involving, activities of the U.S. Army Medical Research and Development Command, the Congressionally Directed Medical Research Programs and the National Institutes of Health research programs. Sec. 750. Notwithstanding 31 U.S.C. 1346 and section 708 of this Act, the head of each Executive department and agency is hereby authorized to transfer to or reimburse ``General Services Administration, Federal Citizen Services Fund'' with the approval of the Director of the Office of Management and Budget, funds made available for the current fiscal year by this or any other Act, including rebates from charge card and other contracts: Provided, That these funds, in addition to amounts otherwise available, shall be administered by the Administrator of General Services to carry out the purposes of the Federal Citizen Services Fund and to support Government-wide and other multi-agency financial, information technology, procurement, and other activities, including services authorized by 44 U.S.C. 3604 and enabling Federal agencies to take advantage of information technology in sharing information: Provided further, That the total funds transferred or reimbursed shall not exceed $29,000,000 for such purposes: Provided further, That the funds transferred to or for reimbursement of ``General Services Administration, Federal Citizen Services Fund'' during fiscal year 2025 shall remain available for obligation through September 30, 2026: Provided further, That not later than 90 days after enactment of this Act, the Administrator of General Services, in consultation with the Director of the Office of Management and Budget, shall submit to the Committees on Appropriations of the House of Representatives and the Senate a detailed spend plan for the funds to be transferred or reimbursed: Provided further, That the spend plan shall, at a minimum, include: (i) the amounts currently in the funds authorized under this section and the estimate of amounts to be transferred or reimbursed in fiscal year 2025; (ii) a detailed breakdown of the purposes for all funds estimated to be transferred or reimbursed pursuant to this section (including total number of personnel and costs for all staff whose salaries are provided for by this section); and (iii) where applicable, a description of the funds intended for use by or for the implementation of specific laws passed by Congress: Provided further, That no transfers or reimbursements may be made pursuant to this section until 15 days following notification of the Committees on Appropriations of the House of Representatives and the Senate by the Director of the Office of Management and Budget. Sec. 751. (a) Any non-Federal entity receiving funds provided in this or any other appropriations Act for fiscal year 2025 that are specified in the disclosure table submitted in compliance with clause 9 of rule XXI of the Rules of the House of Representatives or Rule XLIV that is included in the report or explanatory statement accompanying any such Act shall be deemed to be a recipient of a Federal award with respect to such funds for purposes of the requirements of 2 CFR 200.334, regarding records retention, and 2 CFR 200.337, regarding access by the Comptroller General of the United States. (b) Nothing in this section shall be construed to limit, amend, supersede, or restrict in any manner any requirements otherwise applicable to non-Federal entities described in paragraph (1) or any existing authority of the Comptroller General. Sec. 752. None of the funds made available by this Act or any other Act may be provided to States, cities, or localities that allow non-citizens to vote in Federal elections. Sec. 753. None of the funds made available by this Act, or any other Act, may be used to make investments under the Thrift Savings Plan in certain mutual funds that make investment decisions based primarily on environmental, social, or governance criteria. Sec. 754. None of the funds appropriated or otherwise made available by this Act or any other Act may be available to-- (a) classify or facilitate the classification of any communications by a United States person as mis-, dis-, or mal- information; or (b) partner with or fund nonprofit or other organizations that pressure or recommend private companies to censor lawful and constitutionally protected speech of United States persons, including recommending the censoring or removal of content on social media platforms. Sec. 755. None of the funds made available by this Act or any other Act shall be used or transferred to another Federal agency, board, or commission to recruit, hire, promote, or retain any person who either has been convicted of a Federal or State child pornography charge, has been convicted of any other Federal or State sexual assault charge or has been formally disciplined for using Federal resources to access, use, or sell child pornography. Sec. 756. None of the funds made available by this or any other Act may be used to implement, administer, or otherwise carry out Executive Order No. 14019 (86 Fed. Reg. 13623; relating to promoting access to voting), except for sections 7, 8, and 10 of such Order. Sec. 757. None of the funds made available by this Act or any other Act may be used to implement, administer, or enforce any COVID-19 mask or vaccine mandates. Sec. 758. Notwithstanding 31 U.S.C. 1346 and section 708 of this Act, the head of each Executive agency (as that term is defined in section 105 of title 5, United States Code) may transfer to or reimburse the ``Information Technology Oversight and Reform'' account with funds made available for the current fiscal year by this or any other Act, including rebates from charge card and other contracts: Provided, That these funds, in addition to amounts otherwise available, shall be administered by the Director of the Office of Management and Budget for necessary expenses of the United States Digital Service: Provided further, That the total funds transferred or reimbursed pursuant to this authority shall not exceed $30,000,000 for such purposes: Provided further, That funds transferred or reimbursed pursuant to this authority during fiscal year 2025 shall remain available for obligation through September 30, 2027: Provided further, That not later than 90 days after the date of enactment of this Act, the Director of the Office of Management and Budget shall submit to the Committees on Appropriations of the House of Representatives and the Senate a detailed spend plan for the funds to be transferred or reimbursed: Provided further, That the spend plan shall, at a minimum, include: (i) the estimate of amounts to be transferred or reimbursed in fiscal year 2025; (ii) a detailed breakdown of the purposes for all funds estimated to be transferred or reimbursed pursuant to this section (including total number of personnel and costs for all staff whose salaries are provided for by this section); and (iii) where applicable, a description of the funds intended for use by or for the implementation of specific laws passed by Congress: Provided further, That no transfers or reimbursements may be made pursuant to this section until 15 days following notification of the Committees on Appropriations of the House of Representatives and the Senate by the Director of the Office of Management and Budget. Sec. 759. None of the funds made available by this Act or any other Act may be used to contract with, grant awards to, or otherwise obligate or expend to NewsGuard Technologies, Inc. (doing business as ``NewsGuard''); Disinformation Index, Inc., Disinformation Index, Ltd., or Global Disinformation Index gUG (collectively doing business as ``Global Disinformation Index''); or any other entity, including a nonprofit organization (as described by section 501(c)(3) of the Internal Revenue Code of 1986), that engages in operations or activities, or produces products, the function of which is to demonetize or rate the credibility of a domestic entity (including news and information outlets) based on lawful speech of such domestic entity under the stated function of ``fact-checking'', or otherwise exposing or correcting mis-information, dis-information, or mal-information. Sec. 760. Except as expressly provided otherwise, any reference to ``this Act'' contained in any title other than title IV or VIII shall not apply to such title IV or VIII. TITLE VIII GENERAL PROVISIONS--DISTRICT OF COLUMBIA (including transfers of funds) Sec. 801. There are appropriated from the applicable funds of the District of Columbia such sums as may be necessary for making refunds and for the payment of legal settlements or judgments that have been entered against the District of Columbia government. Sec. 802. None of the Federal funds provided in this Act shall be used for publicity or propaganda purposes or implementation of any policy including boycott designed to support or defeat legislation pending before Congress or any State legislature. Sec. 803. (a) None of the Federal funds provided under this Act to the agencies funded by this Act, both Federal and District government agencies, that remain available for obligation or expenditure in fiscal year 2025, or provided from any accounts in the Treasury of the United States derived by the collection of fees available to the agencies funded by this Act, shall be available for obligation or expenditures for an agency through a reprogramming of funds which-- (1) creates new programs; (2) eliminates a program, project, or responsibility center; (3) establishes or changes allocations specifically denied, limited or increased under this Act; (4) increases funds or personnel by any means for any program, project, or responsibility center for which funds have been denied or restricted; (5) re-establishes any program or project previously deferred through reprogramming; (6) augments any existing program, project, or responsibility center through a reprogramming of funds in excess of $3,000,000 or 10 percent, whichever is less; or (7) increases by 20 percent or more personnel assigned to a specific program, project or responsibility center, unless prior approval is received from the Committees on Appropriations of the House of Representatives and the Senate. (b) The District of Columbia government is authorized to approve and execute reprogramming and transfer requests of local funds under this title through November 7, 2025. Sec. 804. None of the Federal funds provided in this Act may be used by the District of Columbia to provide for salaries, expenses, or other costs associated with the offices of United States Senators or United States Representatives under section 4(d) of the District of Columbia Statehood Constitutional Convention Initiatives of 1979 (D.C. Law 3-171; D.C. Official Code, sec. 1-123). Sec. 805. Except as otherwise provided in this section, none of the funds made available by this Act or by any other Act may be used to provide any officer or employee of the District of Columbia with an official vehicle unless the officer or employee uses the vehicle only in the performance of the officer's or employee's official duties. For purposes of this section, the term ``official duties'' does not include travel between the officer's or employee's residence and workplace, except in the case of-- (1) an officer or employee of the Metropolitan Police Department who resides in the District of Columbia or is otherwise designated by the Chief of the Department; (2) at the discretion of the Fire Chief, an officer or employee of the District of Columbia Fire and Emergency Medical Services Department who resides in the District of Columbia and is on call 24 hours a day; (3) at the discretion of the Director of the Department of Corrections, an officer or employee of the District of Columbia Department of Corrections who resides in the District of Columbia and is on call 24 hours a day; (4) at the discretion of the Chief Medical Examiner, an officer or employee of the Office of the Chief Medical Examiner who resides in the District of Columbia and is on call 24 hours a day; (5) at the discretion of the Director of the Homeland Security and Emergency Management Agency, an officer or employee of the Homeland Security and Emergency Management Agency who resides in the District of Columbia and is on call 24 hours a day; (6) the Mayor of the District of Columbia; and (7) the Chairman of the Council of the District of Columbia. Sec. 806. (a) None of the Federal funds contained in this Act may be used by the District of Columbia Attorney General or any other officer or entity of the District government to provide assistance for any petition drive or civil action which seeks to require Congress to provide for voting representation in Congress for the District of Columbia. (b) Nothing in this section bars the District of Columbia Attorney General from reviewing or commenting on briefs in private lawsuits, or from consulting with officials of the District government regarding such lawsuits. Sec. 807. None of the Federal funds contained in this Act may be used to distribute any needle or syringe for the purpose of preventing the spread of blood borne pathogens in any location that has been determined by the local public health or local law enforcement authorities to be inappropriate for such distribution. Sec. 808. Nothing in this Act may be construed to prevent the Council or Mayor of the District of Columbia from addressing the issue of the provision of contraceptive coverage by health insurance plans, but it is the intent of Congress that any legislation enacted on such issue should include a ``conscience clause'' which provides exceptions for religious beliefs and moral convictions. Sec. 809. No funds available for obligation or expenditure by the District of Columbia government under any authority shall be expended for any abortion except where the life of the mother would be endangered if the fetus were carried to term or where the pregnancy is the result of an act of rape or incest. Sec. 810. (a) No later than 30 calendar days after the date of the enactment of this Act, the Chief Financial Officer for the District of Columbia shall submit to the appropriate committees of Congress, the Mayor, and the Council of the District of Columbia, a revised appropriated funds operating budget in the format of the budget that the District of Columbia government submitted pursuant to section 442 of the District of Columbia Home Rule Act (D.C. Official Code, sec. 1- 204.42), for all agencies of the District of Columbia government for fiscal year 2025 that is in the total amount of the approved appropriation and that realigns all budgeted data for personal services and other-than-personal services, respectively, with anticipated actual expenditures. (b) This section shall apply only to an agency for which the Chief Financial Officer for the District of Columbia certifies that a reallocation is required to address unanticipated changes in program requirements. Sec. 811. No later than 30 calendar days after the date of the enactment of this Act, the Chief Financial Officer for the District of Columbia shall submit to the appropriate committees of Congress, the Mayor, and the Council for the District of Columbia, a revised appropriated funds operating budget for the District of Columbia Public Schools that aligns schools' budgets to actual enrollment. The revised appropriated funds budget shall be in the format of the budget that the District of Columbia government submitted pursuant to section 442 of the District of Columbia Home Rule Act (D.C. Official Code, sec. 1- 204.42). Sec. 812. (a) Amounts appropriated in this Act as operating funds may be transferred to the District of Columbia's enterprise and capital funds and such amounts, once transferred, shall retain appropriation authority consistent with the provisions of this Act. (b) The District of Columbia government is authorized to reprogram or transfer for operating expenses any local funds transferred or reprogrammed in this or the four prior fiscal years from operating funds to capital funds, and such amounts, once transferred or reprogrammed, shall retain appropriation authority consistent with the provisions of this Act. (c) The District of Columbia government may not transfer or reprogram for operating expenses any funds derived from bonds, notes, or other obligations issued for capital projects. Sec. 813. None of the Federal funds appropriated in this Act shall remain available for obligation beyond the current fiscal year, nor may any be transferred to other appropriations, unless expressly so provided herein. Sec. 814. Except as otherwise specifically provided by law or under this Act, not to exceed 50 percent of unobligated balances remaining available at the end of fiscal year 2024 from appropriations of Federal funds made available for salaries and expenses for fiscal year 2025 in this Act, shall remain available through September 30, 2026, for each such account for the purposes authorized: Provided, That a request shall be submitted to the Committees on Appropriations of the House of Representatives and the Senate for approval prior to the expenditure of such funds: Provided further, That these requests shall be made in compliance with reprogramming guidelines outlined in section 803 of this Act. Sec. 815. (a)(1) During fiscal year 2026, during a period in which neither a District of Columbia continuing resolution or a regular District of Columbia appropriation bill is in effect, local funds are appropriated in the amount provided for any project or activity for which local funds are provided in the Act referred to in paragraph (2) (subject to any modifications enacted by the District of Columbia as of the beginning of the period during which this subsection is in effect) at the rate set forth by such Act. (2) The Act referred to in this paragraph is the Act of the Council of the District of Columbia pursuant to which a proposed budget is approved for fiscal year 2026 which (subject to the requirements of the District of Columbia Home Rule Act) will constitute the local portion of the annual budget for the District of Columbia government for fiscal year 2026 for purposes of section 446 of the District of Columbia Home Rule Act (sec. 1-204.46, D.C. Official Code). (b) Appropriations made by subsection (a) shall cease to be available-- (1) during any period in which a District of Columbia continuing resolution for fiscal year 2026 is in effect; or (2) upon the enactment into law of the regular District of Columbia appropriation bill for fiscal year 2026. (c) An appropriation made by subsection (a) is provided under the authority and conditions as provided under this Act and shall be available to the extent and in the manner that would be provided by this Act. (d) An appropriation made by subsection (a) shall cover all obligations or expenditures incurred for such project or activity during the portion of fiscal year 2026 for which this section applies to such project or activity. (e) This section shall not apply to a project or activity during any period of fiscal year 2026 if any other provision of law (other than an authorization of appropriations)-- (1) makes an appropriation, makes funds available, or grants authority for such project or activity to continue for such period; or (2) specifically provides that no appropriation shall be made, no funds shall be made available, or no authority shall be granted for such project or activity to continue for such period. (f) Nothing in this section shall be construed to affect obligations of the government of the District of Columbia mandated by other law. Sec. 816. (a) Section 244 of the Revised Statutes of the United States relating to the District of Columbia (sec. 9-1201.03, D.C. Official Code) does not apply with respect to any railroads installed pursuant to the Long Bridge Project. (b) In this section, the term ``Long Bridge Project'' means the project carried out by the District of Columbia and the Commonwealth of Virginia to construct a new Long Bridge adjacent to the existing Long Bridge over the Potomac River, including related infrastructure and other related projects, to expand commuter and regional passenger rail service and to provide bike and pedestrian access crossings over the Potomac River. Sec. 817. Not later than 45 days after the last day of each quarter, each Federal and District government agency appropriated Federal funds in this Act shall submit to the Committees on Appropriations of the House of Representatives and the Senate a quarterly budget report that includes total obligations of the Agency for that quarter for each Federal funds appropriation provided in this Act, by the source year of the appropriation. Sec. 818. None of the funds available for obligation or expenditure by the District of Columbia government under any authority may be used to carry out the Reproductive Health Non-Discrimination Amendment Act of 2014 (D.C. Law 20-261) or to implement any rule or regulation promulgated to carry out such Act. Sec. 819. (a) Section 602(a) of the District of Columbia Home Rule Act (sec. 1 206.02(a), D.C. Official Code) is amended-- (1) by striking ``or'' at the end of paragraph (9); (2) by striking the period at the end of paragraph (10) and inserting ``; or ;'' and (3) by adding at the end the following new paragraph: ``(11) enact any act, resolution, rule, regulation, guidance, or other law to permit any person to carry out any activity, or to reduce the penalties imposed with respect to any activity, to which subsection (a) of section 3 of the Assisted Suicide Funding Restriction Act of 1997 (42 U.S.C. 14402) applies (taking into consideration subsection (b) of such section).''. (b) The Death With Dignity Act of 2016 (D.C. Law 21 182) is hereby repealed. Sec. 820. (a) No later than 60 calendar days after the date of the enactment of this Act the District of Columbia shall submit a report to the Committees regarding the District of Columbia's enforcement of the Partial Birth Abortion Ban Act. (b) The report submitted shall include: (1) how health care providers within the District of Columbia are alerted to their responsibility to comply with the Partial Birth Abortion Ban Act; (2) how the District of Columbia responds to potential violations; (3) how many potential violations have been investigated in the District of Columbia in the past five years; (4) whether the District of Columbia preserved each child's remains for appropriate examination during the investigation; (5) whether the District of Columbia conducted a thorough investigation of the death of each child and what each investigation showed; (6) whether the Chief Medical Examiner was directed to perform an autopsy on each child to determine the method and cause of death in accordance with section 2906 of the Establishment of the Office of the Chief Medical Examiner Act of 2000(sec. 5-1405, D.C. Official Code; (7) whether the District of Columbia directed a subsequent autopsy to be completed by an independent, licensed pathologist to confirm the findings of the Chief Medical Examiner; and (8) whether the District of Columbia ensured the proper and respectful burial of each child. Sec. 821. None of the funds available for obligation or expenditure by the District of Columbia government under any authority may be used to enforce the District of Columbia Department of Energy and Environment's December 29, 2023, final rule relating to ``Adoption of California Vehicle Emission Standards''. Sec. 822. None of the funds available for obligation or expenditure by the District of Columbia government under any authority may be used by the District of Columbia to enact or carry out any law which prohibits motorists from making right turns on red, including the Safer Streets Amendment Act of 2022 (D.C. Law 24-214). Sec. 823. None of the funds available for obligation or expenditure by the District of Columbia government under any authority may be used to carry out title IX of the Fiscal Year 1997 Budget Support Act of 1996 (sec. 50-2209.01 et seq., D.C. Official Code). Sec. 824. (a) Section 5 of the Corrections Oversight Improvement Omnibus Amendment Act of 2022 (D.C. Law 24-344) is repealed, and the provision of law amended by such section (section 16-5505, D.C. Official Code) is restored as if such section had not been enacted into law. (b) Subsection (a) shall take effect as if included in the enactment of the Corrections Oversight Improvement Omnibus Amendment Act of 2022. Sec. 825. None of the funds available for obligation or expenditure by the District of Columbia government under any authority may be used to implement the Local Resident Voting Rights Amendment Act of 2022 (D. C. Law 24-344) or any activities related to enrolling or registering noncitizens into voter rolls for local elections. Sec. 826. An individual who has a valid weapons carry permit from any United States state or territory may possess and carry a concealed handgun in the area governed by the District of Columbia and Washington Metropolitan Area Transit Authority. Sec. 827. None of the funds available for obligation or expenditure by the District of Columbia government under any authority may be used to carry out the Comprehensive Policing and Justice Reform Amendment Act of 2022 (D.C. Law 24-345). Sec. 828. Sections 102(a)(3) and 102(c)(1)(B) of the Youth Rehabilitation Amendment Act of 2018 (D.C. Law 22-197) are hereby repealed, and any provision of law amended by these sections is hereby restored as if such sections had not been enacted into law. Sec. 829. None of the funds made available for obligation or expenditure by the District of Columbia under any authority may be used to implement, administer, or enforce any COVID-19 mask or vaccine mandate. Sec. 830. (a) None of the Federal funds contained in this Act may be used to enact or carry out any law, rule, or regulation to legalize or otherwise reduce penalties associated with the possession, use, or distribution of any Schedule I substance under the Controlled Substances Act (21 U.S.C. 801 et seq.) or any tetrahydrocannabinols derivative. (b) No funds available for obligation or expenditure by the District of Columbia government under any authority may be used to enact any law, rule, or regulation to legalize or otherwise reduce penalties associated with the possession, use, or distribution of any Schedule I substance under the Controlled Substances Act (21 U.S.C. 801 et seq.) or any tetrahydrocannabinols derivative for recreational purposes. Sec. 831. Except as expressly provided otherwise, any reference to ``this Act'' contained in this title or in title IV shall be treated as referring only to the provisions of this title or of title IV. TITLE IX ADDITIONAL GENERAL PROVISIONS spending reduction account Sec. 901. $0. This division may be cited as the ``Financial Services and General Government Appropriations Act, 2025''. Union Calendar No. 459 118th CONGRESS 2d Session H. R. 8773 [Report No. 118-556] _______________________________________________________________________ A BILL Making appropriations for financial services and general government for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ June 17, 2024 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

usgpo

2024-06-24T00:12:17.474396

BILLS-118hr2964rfs

Wastewater Infrastructure Pollution Prevention and Environmental Safety Act; WIPPES Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 2964 Referred in Senate (RFS)] <DOC> 118th CONGRESS 2d Session H. R. 2964 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Received; read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ AN ACT To require certain products to be labeled with `Do Not Flush' labeling, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Wastewater Infrastructure Pollution Prevention and Environmental Safety Act'' or the ``WIPPES Act''. SEC. 2. ``DO NOT FLUSH'' LABELING. (a) In General.--A covered entity shall label a covered product clearly and conspicuously with the label notice and symbol, in accordance with subsections (b) and (c). (b) Requirements.-- (1) Cylindrical packaging.--In the case of a covered product sold in cylindrical or near-cylindrical packaging, and intended to dispense individual wipes-- (A) the symbol and label notice shall be displayed on the principal display panel in a clear and conspicuous location reasonably visible to the user each time a wipe is dispensed; or (B) the symbol shall be displayed on the principal display panel and the label notice, or a combination of the label notice and symbol, shall be displayed on a flip lid in a manner that covers at least 8 percent of the surface area of the flip lid. (2) Flexible film packaging.--In the case of a covered product sold in flexible film packaging, and intended to dispense individual wipes-- (A) the symbol shall be displayed on the principal display panel and, if the principal display panel is not on the dispensing side of the packaging, on the dispensing side panel; and (B) the label notice shall be displayed on either the principal display panel or the dispensing side panel, in a clear and conspicuous location reasonably visible to the user each time a wipe is dispensed. (3) Rigid packaging.--In the case of a covered product sold in a refillable tub or other rigid packaging that may be reused by a customer, and that is intended to dispense individual wipes, the symbol and label notice shall be displayed on the principal display panel in a clear and conspicuous location reasonably visible to the user each time a wipe is dispensed. (4) Packaging not intended to dispense individual wipes.-- In the case of a covered product sold in packaging that is not intended to dispense individual wipes, the symbol and label notice shall be displayed on the principal display panel in a clear and conspicuous location reasonably visible to the user of the covered product. (5) Bulk packaging.-- (A) In general.--In the case of a covered product sold in bulk at retail, the symbol and label notice shall be displayed on both the outer packaging visible at retail and the individual packaging contained within the outer packaging. (B) Exemption.--The following shall be exempt from the requirements of subparagraph (A): (i) Individually packaged covered products that are contained within outer packaging, are not intended to dispense individual wipes, and have no retail labeling. (ii) Outer packaging that does not obscure the symbol and label notice on individually packaged covered products contained within. (6) Packaging of combined products.-- (A) Outer packaging.--The outer packaging of combined products shall be exempt from the symbol and label notice requirements of subsection (a). (B) Packages less than 3 by 3 inches.--In the case of a covered product in packaging smaller than 3 inches by 3 inches (such as an individually packaged wipe in tear-top packaging) and sold as part of a combined product, if a symbol and label notice are placed in a prominent location reasonably visible to the user of the covered product, such covered product shall be considered to be labeled clearly and conspicuously. (c) Reasonable Visibility of Symbol and Label Notice.-- (1) In general.--A covered entity shall ensure that-- (A) packaging seams or folds or other packaging design elements do not obscure the symbol or label notice; (B) the symbol and label notice are each equal in size to at least 2 percent of the surface area of the principal display panel; and (C) the symbol and label notice have high contrast with the immediate background of the packaging so that such symbol and label notice may be seen and read by an ordinary individual under customary conditions of purchase and use. (2) Proximity of symbol and label notice.--A covered entity may display a symbol and label notice either adjacent to or on separate areas of the principal display panel. (3) Exception.--Paragraph (1)(C) does not apply to an embossed symbol or label notice on the flip lid of a covered product sold in cylindrical or near-cylindrical packaging. (d) Representations of Flushability.--With respect to a covered product, a covered entity may not make any express or implied representation that such covered product can or should be flushed. (e) Enforcement by Federal Trade Commission.-- (1) Unfair or deceptive acts or practices.--A violation of this section or any regulation promulgated under this section shall be treated as a violation of a regulation under section 18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)) regarding unfair or deceptive acts or practices. (2) Powers of commission.--The Commission shall enforce this section and any regulations promulgated under this section by the same means, and with the same jurisdiction, powers, and duties, as though all applicable terms and provisions of the Federal Trade Commission Act (15 U.S.C. 41 et seq.) were incorporated into and made a part of this section, and any person who violates this section or any regulation promulgated under this section shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act. (3) Regulations.--The Commission may promulgate regulations under section 553 of title 5, United States Code, to implement this section. In developing the regulations, the Commission may consult with the Administrator of the Environmental Protection Agency, the Commissioner of Food and Drugs, the Consumer Product Safety Commission, or any other agency as appropriate. (4) Authority preserved.--Nothing in this section may be construed to limit the authority of the Commission under any other provision of law. (f) Preemption of State Laws.--No State or political subdivision of a State may directly or indirectly establish or continue in effect, under any authority, requirements with respect to the ``Do Not Flush'' labeling of covered products that are not identical to the requirements of this section and the regulations promulgated under this section. (g) Definitions.--In this section: (1) Combined product.--The term ``combined product'' means two or more products sold in shared retail packaging, of which-- (A) at least one of the products is a covered product; and (B) at least one of the products is another consumer product intended to be used in combination with such covered product. (2) Commission.--The term ``Commission'' means the Federal Trade Commission. (3) Covered entity.--The term ``covered entity'' means a manufacturer, wholesaler, supplier, individual or group of individuals, or retailer that is responsible for the labeling or retail packaging of a covered product that is sold or offered for retail sale in the United States. (4) Covered product.-- (A) In general.--The term ``covered product'' means a premoistened, nonwoven disposable wipe sold or offered for retail sale-- (i) that is marketed as a baby wipe or diapering wipe; or (ii) that is a household or personal care wipe (including a wipe described in subparagraph (B)) that-- (I) is composed entirely, or in part, of petrochemical-derived fibers; and (II) has significant potential to be flushed. (B) Inclusions.--The wipes described in this subparagraph are-- (i) antibacterial wipes and disinfecting wipes; (ii) wipes intended for general purpose cleaning or bathroom cleaning, including toilet cleaning and hard surface cleaning; and (iii) wipes intended for personal care use on the body, including hand sanitizing, makeup removal, feminine hygiene, adult hygiene (including incontinence hygiene), and body cleansing. (5) High contrast.--The term ``high contrast'' means, with respect to the symbol or label notice, that such symbol or label notice-- (A) is either light on a solid dark background or dark on a solid light background; and (B) has a contrast percentage of at least 70 percent between such symbol or label notice and the background, using the formula (B1 - B2) / B1 * 100 = contrast percentage, where B1 is the light reflectance value of the lighter area and B2 is the light reflectance value of the darker area. (6) Label notice.--The term ``label notice'' means the written phrase ``Do Not Flush''. (7) Principal display panel.--The term ``principal display panel'' means the side of a product package that is most likely to be displayed, presented, or shown under customary conditions of display for retail sale, and-- (A) in the case of a cylindrical or near- cylindrical package, the surface area of which constitutes at least 40 percent of the product package, as measured by multiplying the height by the circumference of the package; or (B) in the case of a flexible film package in which a rectangular prism or near-rectangular prism stack of wipes is housed within the film, the surface area of which is measured by multiplying the length by the width of the side of the package when the flexible packaging film is pressed flat against the stack of wipes on all sides of the stack. (8) State.--The term ``State'' means each State of the United States, the District of Columbia, and each commonwealth, territory, or possession of the United States. (9) Symbol.--The term ``symbol'' means the ``Do Not Flush'' symbol, as depicted in the most recent edition of the Guidelines for Assessing the Flushability of Disposable Nonwoven Products published by the Association of the Nonwoven Fabrics Industry (INDA) and the European Disposables And Nonwovens Association (EDANA), or an otherwise equivalent symbol adopted by the Commission through rulemaking under this section. (h) Effective Date.--This section shall apply to a covered entity beginning on the date that is 1 year after the date of the enactment of this Act. Passed the House of Representatives June 11, 2024. Attest: KEVIN F. MCCUMBER, Clerk.

usgpo

2024-06-24T00:12:23.788699

BILLS-118s4316is

Moving Transit Forward Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4316 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4316 To authorize urbanized area formula grants for service improvement and safety and security enhancement, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Van Hollen (for himself and Mr. Fetterman) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To authorize urbanized area formula grants for service improvement and safety and security enhancement, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Moving Transit Forward Act of 2024''. SEC. 2. URBANIZED AREA FORMULA GRANTS FOR SERVICE IMPROVEMENT AND SAFETY AND SECURITY ENHANCEMENT. (a) In General.--Chapter 53 of title 49, United States Code, is amended by inserting after section 5307 the following: ``Sec. 5308. Urbanized area formula grants for service improvement and safety and security enhancement ``(a) General Authority.--The Secretary may make grants under this section for-- ``(1) operating costs of equipment and facilities for use in public transportation in an urbanized area, if such costs increase or support the quality, frequency, or geographic availability of service; ``(2) planning of service adjustments to increase the quality, frequency, or geographic availability of service; ``(3) capital projects or operating costs to increase the security of an existing or planned public transportation system, including costs of law enforcement or security personnel; or ``(4) capital projects for safety risk mitigations that are identified and recommended by the safety committee of a recipient under section 5329. ``(b) Apportionments.-- ``(1) In general.--The Secretary shall apportion the amounts made available for each fiscal year to carry out this section so that each urbanized area is entitled to receive an amount equal to the amount apportioned under this section multiplied by a ratio equal to the urbanized area's operating expenses for the most recent year reported to the Secretary under section 5335, divided by the total operating expenses attributable to all urbanized areas. ``(2) Additional amounts.--Amounts apportioned to each urbanized area shall be added to amounts apportioned to that urbanized area under section 5336 and made available for eligible activities under this section in accordance with the requirements of section 5307, except as modified under this section. ``(c) Grant Requirements.-- ``(1) Certifications.-- ``(A) Grants for operating costs of equipment and facilities to increase or support service.--A recipient of assistance for operating costs under subsection (a)(1) shall certify to the Secretary that the recipient will-- ``(i) utilize the operating assistance to increase or support the total level of vehicle revenue service provided by the recipient; and ``(ii) ensure that the amount of non- Federal expenditures for operating expenses for each of the fiscal years for which the recipient proposes to use the operating assistance to increase or support vehicle revenue service is not less than the amount of non-Federal expenditures of the recipient for operating expenses for the most recent fiscal year. ``(B) Grants for capital projects or operating costs to increase security.--A recipient of assistance for capital projects or operating costs under subsection (a)(3) shall certify to the Secretary that the recipient will ensure that the amount of non- Federal expenditures for security expenses of the recipient for each of the fiscal years for which the recipient proposes to use assistance to increase the security of an existing or planned public transportation system is not less than the amount of non-Federal expenditures for security expenses of the recipient for the most recent fiscal year. ``(2) Other programs or plans.--Operating assistance under this section is not required to be included in a transportation improvement program, metropolitan transportation plan, Statewide transportation improvement program, or Statewide transportation plan under section 5303 or 5304. ``(3) Prohibition.--Operating assistance under subsection (a)(1) and assistance for planning under subsection (a)(2) shall not be made available for transitioning fixed route public transportation service provided as of the date of receipt of funds to services offered by a third-party contract provider providing on-demand service. ``(4) Other amounts.--Notwithstanding section 5307(a)(1)(D), an urbanized area may use not more than 10 percent of the apportionment for the area under section 5336 as if such amounts were made available originally under this section. ``(d) Government Share of Costs for Operating Expenses.-- ``(1) In general.--A grant under this section for operating expenses shall be for 80 percent of the net project cost of the project. ``(2) Additional matching amounts.--A recipient of a grant under this section for operating expenses may provide additional local matching amounts beyond the amount required under paragraph (1).''. (b) Technical and Conforming Amendment.--The table of sections for chapter 53 of title 49, United States Code, is amended by inserting after the item relating to section 5307 the following: ``5308. Urbanized area formula grants for service improvement and safety and security enhancement.''. <all>

usgpo

2024-06-24T00:12:19.344693

BILLS-118s4554pcs

Reproductive Freedom for Women Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4554 Placed on Calendar Senate (PCS)] <DOC> Calendar No. 420 118th CONGRESS 2d Session S. 4554 To express support for protecting access to reproductive health care after the Dobbs v. Jackson decision on June 24, 2022. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 17, 2024 Mrs. Murray (for herself, Mr. Schumer, Ms. Baldwin, Ms. Butler, Ms. Cantwell, Ms. Cortez Masto, Ms. Duckworth, Mrs. Gillibrand, Ms. Hassan, Ms. Hirono, Ms. Klobuchar, Ms. Rosen, Mrs. Shaheen, Ms. Smith, Ms. Stabenow, Ms. Warren, Mr. Bennet, Mr. Blumenthal, Mr. Booker, Mr. Brown, Mr. Carper, Mr. Coons, Mr. Durbin, Mr. Hickenlooper, Mr. Markey, Mr. Merkley, Mr. Padilla, Mr. Schatz, and Mr. Wyden) introduced the following bill; which was read the first time June 18, 2024 Read the second time and placed on the calendar _______________________________________________________________________ A BILL To express support for protecting access to reproductive health care after the Dobbs v. Jackson decision on June 24, 2022. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Reproductive Freedom for Women Act''. SEC. 2. SENSE OF CONGRESS. It is the sense of Congress that-- (1) protections for access to abortion rights and other reproductive health care after the Dobbs v. Jackson, 597 U.S. 215 (2022) decision on June 24, 2022, should be supported; and (2) the protections enshrined in Roe v. Wade, 410 U.S. 113 (1973) should be restored and built upon, moving towards a future where there is reproductive freedom for all. Calendar No. 420 118th CONGRESS 2d Session S. 4554 _______________________________________________________________________ A BILL To express support for protecting access to reproductive health care after the Dobbs v. Jackson decision on June 24, 2022. _______________________________________________________________________ June 18, 2024 Read the second time and placed on the calendar

usgpo

2024-06-24T00:12:16.377205

BILLS-118hres1308ih

Recognizing June 19, 2024, as this year’s observance of the historical significance of Juneteenth Independence Day.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1308 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1308 Recognizing June 19, 2024, as this year's observance of the historical significance of Juneteenth Independence Day. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Ms. Jackson Lee (for herself, Mr. Weber of Texas, Mrs. Watson Coleman, Mr. Bishop of Georgia, Mr. Lynch, Ms. Williams of Georgia, Ms. Tlaib, Mr. McGovern, Mr. Evans, Ms. Sewell, Mr. Thompson of Mississippi, Mr. Davis of Illinois, Mr. Johnson of Georgia, Mrs. Ramirez, Mr. Carter of Louisiana, Ms. Moore of Wisconsin, Mr. Swalwell, Ms. DelBene, Ms. Ocasio-Cortez, Mr. Landsman, Mr. Quigley, Ms. Dean of Pennsylvania, Mr. Cleaver, Mr. Smith of Washington, Ms. Norton, Mr. Castro of Texas, Mr. Horsford, Ms. Lee of California, Ms. Titus, Mrs. Beatty, Mr. Allred, Ms. Garcia of Texas, Ms. Brown, Ms. Velazquez, Mr. Kim of New Jersey, Mr. Green of Texas, Mr. Veasey, Mr. Torres of New York, Ms. Bush, Ms. Scanlon, Mr. Pascrell, Mr. DeSaulnier, Mr. Vargas, Ms. Sanchez, Mr. Trone, Ms. Blunt Rochester, Ms. Houlahan, Mr. Lieu, Mrs. Torres of California, Ms. Kaptur, Mr. Thanedar, Mr. Connolly, Ms. Chu, Ms. Bonamici, Mr. Cuellar, Mr. Suozzi, Ms. McCollum, Ms. Wilson of Florida, Mr. Menendez, Mr. Ivey, Ms. Kamlager-Dove, Ms. Strickland, Mr. Thompson of California, Ms. Adams, Ms. Crockett, Mr. Raskin, Mr. Carson, Mr. Schneider, Mr. Keating, Mrs. Dingell, Ms. Salinas, Mr. Phillips, Mr. Cardenas, Mr. Meeks, Ms. Kelly of Illinois, Mrs. Fletcher, Mr. Frost, Ms. Budzinski, Mr. Mfume, Mr. Ruiz, and Ms. Davids of Kansas) submitted the following resolution; which was referred to the Committee on Oversight and Accountability _______________________________________________________________________ RESOLUTION Recognizing June 19, 2024, as this year's observance of the historical significance of Juneteenth Independence Day. Whereas news of the end of slavery did not reach frontier areas of the United States, and in particular the Southwestern States, for more than 2\1/2\ years after President Lincoln's Emancipation Proclamation, which was issued on January 1, 1863, and months after the conclusion of the Civil War; Whereas, on June 19, 1865, Union soldiers led by Major General Gordon Granger arrived in Galveston, Texas, with news that the Civil War had ended and that the enslaved were free; Whereas African Americans who had been slaves in the Southwest celebrated June 19th, commonly known as ``Juneteenth Independence Day'', as the anniversary of their emancipation; Whereas African Americans from the Southwest continue the tradition of celebrating Juneteenth Independence Day as inspiration and encouragement for future generations; Whereas for more than 150 years, Juneteenth Independence Day celebrations have been held to honor African-American freedom while encouraging self- development and respect for all cultures; Whereas, on June 18, 2020, H.R. 7232, the Juneteenth National Independence Day Act was introduced and reintroduced as H.R. 1320, on February 25, 2021, in the House of Representatives, marking the first time in Congress a bill had been introduced to declare Juneteenth a Federal holiday; Whereas, on June 17, 2022, President Joseph R. Biden, Jr., signed into law the bill that established Juneteenth as a Federal holiday, one day before the first anniversary of the introduction of H.R. 7232, making it the most recent addition to the list of Federal holidays; and Whereas the faith and strength of character demonstrated by former slaves remains an example for all people of the United States, regardless of background, religion, or race: Now, therefore, be it Resolved, That-- (1) the House of Representatives-- (A) recognizes the historical significance of Juneteenth Independence Day to the Nation; (B) supports the continued celebration of Juneteenth Independence Day to provide an opportunity for the people of the United States to learn more about the past and to better understand the experiences that have shaped the Nation; and (C) encourages the people of the United States to observe Juneteenth Independence Day with appropriate ceremonies, activities, and programs; and (2) it is the sense of the House of Representatives that-- (A) the celebration of the end of slavery is an important and enriching part of the history and heritage of the United States; and (B) history should be regarded as a means for understanding the past and solving the challenges of the future. <all>

usgpo

2024-06-24T00:12:16.405567

DCPD-202400502

Remarks and an Exchange With Reporters at Aisne-Marne American Cemetery in Belleau, France

Administration of Joseph R. Biden, Jr., 2024 June 9, 2024 The President. Every marine I know knows about the battle in Belleau Woods. There were over 2,029—229 buried here. And, inside that chapel, there's names of 1,000 missing. They never recovered the bodies. And the idea that we should come to Normandy beach, celebrate and show reverence for those we lost—I'm probably not speaking loudly enough. I apologize. The—and not come here—you know, the idea—General—Colonel—excuse me, Captain Williams, when they arrived here to stop the Germans, the other team decided they had to retreat. And his comment was: "Hell no. We just got here. We just got here." They stopped the Germans. They stopped the Germans. And the idea that we were able to avoid being engaged in major battles in Europe is just not realistic. That's why it's so important that we continue to have the alliances we have, continue to beef up those alliances, continue to keep NATO strong, continue to do what we've been able to do for the last—since the end of World War II. And so I just wanted to—Jill and I wanted to come and pay our respects. And it matters a lot. The President's Visit to the Cemetery Q. How does it feel to be here, sir? The President. You know, I don't want to—I don't want to make this personal, but every time I show up at a military site where veterans are buried, it brings back memories of hearing my grandfather and my mother talk about the loss of their son and brother in the South Pacific. And I think about my son Beau after a year in Iraq. And so it—you know, I think it—as a measure of a country's support for democratic values, that they honor those who've risked their lives and lost their lives. And think about it. You had this—they were on their way to Paris—Germans. They stopped them here. They stopped them here, just like the Americans on Normandy—the Normandy beach stopped—turned the war around. And gives you both a sense of pride and, in my case—and my guess is you as well—a sense of reverence for what they did. And so, any rate. Q. You talked about—— Aisne-Marne American Cemetery Q. Why this particular cemetery, sir? The President. This is the most—more Americans—more marines were lost here than any battle until the middle of World War II. The idea that I'd come to Normandy and not make the short trip here to pay tribute—and it's the same story. Think about it. America showed up. America showed up to stop the Germans. America showed up to make sure that they did not prevail. And America shows up when we need it, just like our allies show up for us. Q. You've criticized President Trump for not coming here on his trip. What message are you hoping to send to voters by being here right now? The President. Any other questions? Pointe du Hoc in Cricqueville-en-Bessin, France Q. Mr. President, what's been the most memorable part of this trip so far? The President. I think the most memorable part of the trip was Pointe du Hoc. I think that was the most memorable because I've been there several times, and the last time I was here was a long while ago—in Normandy. And we came in on a landing craft. We got off a destroyer and got on a landing craft. And you're coming in and look at the—the depth of that beach and those cliffs behind it. You know, these guys just—how many of them drowned just getting off the—off the landing craft because they sank into the water with the heavy packs and got stuck. But they kept going. They did not quit. There's no quit in America. None. None. There's no quit in America. And that's what it shows me. United States Foreign Policy Q. Mr. President, what do you hope Americans take away from you coming on this trip? The President. The knowledge that the best way to avoid these kinds of battles in the future is to stay strong with our allies. Do not break. Do not break. Q. Do you feel that Americans—— Q. Did anything surprise you on this trip, sir? United States Leadership in Global Affairs Q. ——are slipping? Do you think that Americans are not holding that view anymore, that there's a—— The President. No, I don't. Q. ——slippage? The President. I think the Americans hold the view. I think there's a new—a rise in a sense of some within the—in the country wanting to let that slip. The idea that we become semi-isolationists now, which some are talking about—I mean, the idea we had to wait all those months just to get the money for Iraq [Ukraine; White House correction] that we—because we were waiting. I mean, it just—it just—it's not who we are. It's not who America is. Q. One—one policy—— Q. Sir, did anything surprise you on this trip? Q. One policy question, for you, sir. Did—I'm sorry. Go ahead. Go ahead, Michelle [Michelle Jamrisko, Bloomberg]. Q. Anything surprise you on this trip that you heard? The President's Visit to France The President. Even though I've been here before, it surprised me how much it awakened my sense of why it's so valuable to have these alliances, why it's so critical. That's the way you stop wars, not start wars. The President's Meetings With President Emmanuel Macron of France Q. One policy question. Did you discuss the Russian asset issue with President Macron yesterday? And did you come up with an agreement on how to use them? The President. Yes, and yes. Thank you. NOTE: The President spoke at 4:04 p.m. Categories: Interviews With the News Media : Exchanges with reporters, Belleau, France. Locations: Belleau, France. Names: Trump, Donald J. Subjects: France, Aisne-Marne American Cemetery in Belleau; France, Pointe du Hoc in Cricqueville-en-Bessin; France, President Biden's visit; France, relations with U.S.; News media, Presidential interviews; North Atlantic Treaty Organization; Russia, U.S. and international sanctions; Ukraine, U.S. assistance. DCPD Number: DCPD202400502.

usgpo

2024-06-24T00:12:22.070302

BILLS-118hres1311ih

Celebrating the historic anniversary of the June 24, 2022, decision of the Supreme Court of the United States in Dobbs v. Jackson Women’s Health Organization.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1311 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1311 Celebrating the historic anniversary of the June 24, 2022, decision of the Supreme Court of the United States in Dobbs v. Jackson Women's Health Organization. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 18, 2024 Mr. Smith of New Jersey submitted the following resolution; which was referred to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ RESOLUTION Celebrating the historic anniversary of the June 24, 2022, decision of the Supreme Court of the United States in Dobbs v. Jackson Women's Health Organization. Whereas the Declaration of Independence announces the self-evident truth that ``all men are created equal'' and ``are endowed by their Creator with certain unalienable Rights''; Whereas the first of those unalienable rights is the right to life; Whereas modern science has illuminated our understanding of the humanity of unborn life; Whereas the Supreme Court of the United States committed a grave injustice in Roe v. Wade, 410 U.S. 113 (1973) (referred to in this preamble as ``Roe''), by inventing a constitutional right to abortion, thereby denying a class of innocent people their right to life; Whereas more than 63,000,000 unborn lives were lost to abortion under Roe; Whereas, on June 24, 2022, the Supreme Court of the United States, in Dobbs v. Jackson Women's Health Organization, 142 S. Ct. 2228 (2022) (referred to in this preamble as ``Dobbs''), corrected the grave injustice committed in Roe, by holding that ``the Constitution does not confer a right to abortion'' and that ``Roe and Casey must be overruled, and the authority to regulate abortion must be returned to the people and their elected representatives''; Whereas many States have taken historic steps to protect unborn life since the ruling of the Supreme Court of the United States in Dobbs; and Whereas many millions of people in the United States continue to press to protect unborn life and strengthen support for families charged with protecting that life: Now, therefore, be it Resolved, That the House of Representatives-- (1) commemorates 2 years since the ruling of the Supreme Court of the United States in Dobbs v. Jackson Women's Health Organization, 142 S. Ct. 2228 (2022) (referred to in this resolution as ``Dobbs''); (2) celebrates the millions of lives that will be saved as a result of the ruling in Dobbs; (3) commits to protecting the unalienable right to life and guarding unborn lives against lethal violence; (4) commits to strengthening the support of the Federal Government for families, including for new and expectant mothers and their children; and (5) commits to proclaiming the humanity of the unborn, consistent with the findings of modern science and the unswerving demands of justice. <all>

usgpo

2024-06-24T00:12:16.366901

BILLS-118s4160is

Postal Operations Stay Timely and Local Act; POSTAL Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4160 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4160 To limit the closure or consolidation of any United States Postal Service processing and distribution center in States, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 18, 2024 Ms. Lummis (for herself, Ms. Hassan, Mr. Barrasso, and Mrs. Shaheen) introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs _______________________________________________________________________ A BILL To limit the closure or consolidation of any United States Postal Service processing and distribution center in States, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Postal Operations Stay Timely and Local Act'' or the ``POSTAL Act''. SEC. 2. LIMITATION ON CLOSING OR CONSOLIDATING POSTAL SERVICE PROCESSING AND DISTRIBUTION CENTERS IN STATES. (a) Definitions.--In this section: (1) Processing and distribution center.--The term ``processing and distribution center'' means a central mail facility that-- (A) distributes and dispatches part or all of both incoming mail and outgoing mail for a designated service area; (B) provides instructions on the preparation of collection mail, dispatch schedules, and sorting plan requirements to mailers; and (C) is a sectional center facility, a general mail facility, or a dedicated mail processing facility without a station or branch. (2) State.--The term ``State'' means a State or the District of Columbia. (b) Limitation.--The United States Postal Service may not close, consolidate, downgrade, or take any other similar action with respect to a processing and distribution center in a State if such action would result in there being no processing and distribution center located in that State or would negatively impact mail delivery. <all>

usgpo

2024-06-24T00:12:23.502364

BILLS-118s4317is

Secure and Affordable Broadband Extension Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4317 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4317 To appropriate funds for the Federal Communications Commission's ``rip and replace'' program and Affordable Connectivity Program, to improve the Affordable Connectivity Program, to require a spectrum auction, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Lujan introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ A BILL To appropriate funds for the Federal Communications Commission's ``rip and replace'' program and Affordable Connectivity Program, to improve the Affordable Connectivity Program, to require a spectrum auction, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Secure and Affordable Broadband Extension Act''. SEC. 2. ADDITIONAL ``RIP AND REPLACE'' FUNDING. (a) Increase in Expenditure Limit.--Section 4(k) of the Secure and Trusted Communications Networks Act of 2019 (47 U.S.C. 1603(k)) is amended by striking ``$1,900,000,000'' and inserting ``$4,980,000,000''. (b) Appropriation of Funds.--There is appropriated to the Federal Communications Commission for fiscal year 2024, out of amounts in the Treasury not otherwise appropriated, $3,080,000,000, to remain available until expended, to carry out section 4 of the Secure and Trusted Communications Networks Act of 2019 (47 U.S.C. 1603). SEC. 3. IMPROVING THE AFFORDABLE CONNECTIVITY PROGRAM. (a) Improving Verification of Eligibility.-- (1) Required use of national verifier to determine eligibility.--Section 904 of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752) is amended-- (A) in subsection (a)(6)(C), by striking ``or the participating provider verifies eligibility under subsection (a)(2)(B)''; and (B) in subsection (b)(2), by striking ``shall'' and all that follows and inserting the following: ``shall use the National Verifier and National Lifeline Accountability Database.''. (2) Repeal of eligibility through a provider's existing low-income program.--Section 904(a)(6) of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752(a)(6)) is amended-- (A) in subparagraph (C), by adding ``or'' at the end; (B) by striking subparagraph (D); and (C) by redesignating subparagraph (E) as subparagraph (D). (3) Limitation on eligibility through the community eligibility provision of the free lunch program and the free school breakfast program.--Section 904(a)(6) of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752(a)(6)) is amended by striking subparagraph (B) and inserting the following: ``(B) at least 1 member of the household-- ``(i) is eligible for and receives-- ``(I) free or reduced price lunch under the school lunch program established under the Richard B. Russell National School Lunch Act (42 U.S.C. 1751 et seq.); or ``(II) free or reduced price breakfast under the school breakfast program established under section 4 of the Child Nutrition Act of 1966 (42 U.S.C. 1773); and ``(ii) attends a school the local educational agency of which does not elect to receive special assistance payments under section 11(a)(1)(F) of the Richard B. Russell National School Lunch Act (42 U.S.C. 1759a(a)(1)(F)).''. (4) Reduction of eligible households.--Section 904(a)(6)(A) of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752(a)(6)(A)) is amended by striking ``except that'' and all that follows and inserting a semicolon. (5) Effective date; rules.-- (A) Definitions.--In this paragraph-- (i) the terms ``affordable connectivity benefit'', ``Commission'', ``eligible household'', and ``participating provider'' have the meanings given those terms in section 904(a) of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752(a)), as amended by this subsection; and (ii) the term ``Affordable Connectivity Program'' means the program established under section 904(b)(1) of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752(b)(1)). (B) Effective date.--Except as provided in subparagraph (C), the amendments made by this subsection shall take effect on the date of enactment of this Act. (C) Enrolled households.--A household that received the affordable connectivity benefit as of April 30, 2024, but is no longer an eligible household by reason of the amendments made by this subsection shall nonetheless be treated an eligible household until the date that is 180 days after the date of enactment of this Act. (D) Updating rules.--Not later than 180 days after the date of enactment of this Act, the Commission shall update the rules of the Commission relating to the Affordable Connectivity Program to implement the amendments made by this subsection. (E) Re-certification.--During the period beginning on the date on which the Commission updates the rules under subparagraph (D) and ending on the date that is 240 days after the date of enactment of this Act, a participating provider or the Administrator of the Universal Service Administrative Company, as applicable, shall re-certify the eligibility of a household for the Affordable Connectivity Program in accordance with section 54.1806(f) of title 47, Code of Federal Regulations, or any successor regulation, based on the amendments made by this subsection. (b) Repeal of Affordable Connectivity Program Device Subsidy.-- Section 904 of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752) is amended-- (1) in subsection (a)-- (A) by striking paragraph (4); and (B) by redesignating paragraphs (5) through (11) as paragraphs (4) through (10), respectively; and (2) in subsection (b)-- (A) in paragraph (1), by striking ``, or an affordable connectivity benefit and a connected device,''; (B) by striking paragraph (5); (C) by redesignating paragraphs (6) through (15) as paragraphs (5) through (14), respectively; (D) by amending paragraph (5), as so redesignated, to read as follows: ``(5) Certification required.--To receive a reimbursement under paragraph (4), a participating provider shall certify to the Commission that each eligible household for which the participating provider is seeking reimbursement for providing an internet service offering discounted by the affordable connectivity benefit-- ``(A) will not be required to pay an early termination fee if such eligible household elects to enter into a contract to receive such internet service offering if such household later terminates such contract; ``(B) was not, after December 27, 2020, subject to a mandatory waiting period for such internet service offering based on having previously received broadband internet access service from such participating provider; and ``(C) will otherwise be subject to the participating provider's generally applicable terms and conditions as applied to other customers.''; (E) in paragraph (11), as so redesignated-- (i) in subparagraph (D), by striking ``a connected device or a reimbursement for''; (ii) by striking subparagraph (E); (iii) by redesignating subparagraphs (F) and (G) as subparagraphs (E) and (F), respectively; and (iv) in subparagraph (F), as so redesignated, by striking ``subsection (a)(6)'' and inserting ``subsection (a)(5)''; and (F) in paragraph (13), as so redesignated, by striking ``paragraph (12)'' and inserting ``paragraph (11)''. (c) Antifraud Controls, Performance Goals, and Measures.--Section 904 of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752) is amended by adding at the end the following: ``(k) Antifraud Controls, Performance Goals, and Measures.-- ``(1) In general.--Not later than 180 days after the date of enactment of this subsection, the Commission shall develop and implement antifraud controls, performance goals, and performance measures for the Affordable Connectivity Program, and in doing so, shall consider the recommendations submitted by the Comptroller General of the United States to the Commission in the report entitled `Affordable Broadband: FCC Could Improve Performance Goals and Measures, Consumer Outreach, and Fraud Risk Management', publicly released January 25, 2023 (GAO-23-105399).''. (d) Report on Effectiveness.--Not later than 1 year after the date of enactment of this Act, the Inspector General of the Federal Communications Commission shall submit to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Energy and Commerce of the House of Representatives a report analyzing the effects of this section, including the amendments made by this section, with respect to improving the efficiency and quality of the Affordable Connectivity Program established under section 904(b)(1) of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752(b)(1)). (e) Appropriation of Funds.--Section 904(i)(2) of division N of the Consolidated Appropriations Act, 2021 (47 U.S.C. 1752(i)(2)) is amended-- (1) in the paragraph heading, by striking ``Appropriation'' and inserting ``Appropriations''; (2) by striking ``There is'' and inserting the following: ``(A) Fiscal year 2021.--There is''; and (3) by adding at the end the following: ``(B) Fiscal year 2024.--There is appropriated to the Affordable Connectivity Fund, out of any money in the Treasury not otherwise appropriated, $6,000,000,000 for fiscal year 2024, to remain available until expended.''. SEC. 4. REAUCTION OF CERTAIN LICENSES. (a) FCC Reauction Authority.--Not later than 2 years after the date of enactment of this Act, the Federal Communications Commission, without regard to whether the authority of the Commission under paragraph (11) of section 309(j) of the Communications Act of 1934 (47 U.S.C. 309(j)) has expired-- (1) shall initiate 1 or more systems of competitive bidding under that section to grant licenses for-- (A) the bands referred to by the Commission as the ``AWS-3 bands''; and (B) any other unassigned spectrum bands with respect to which the Commission previously offered licenses in competitive bidding, as determined appropriate by the Commission; and (2) shall initiate 1 or more systems of competitive bidding under that section to grant licenses for any unassigned spectrum bands, other than the bands auctioned under paragraph (1), with respect to which the Commission-- (A) previously offered licenses in competitive bidding; and (B) determines there is sufficient current demand. (b) Completion of Reauction.--The Federal Communications Commission shall complete each system of competitive bidding described in subsection (a), including receiving payments, processing applications, and granting licenses, without regard to whether the authority of the Commission under paragraph (11) of section 309(j) of the Communications Act of 1934 (47 U.S.C. 309(j)) has expired. <all>

usgpo

2024-06-24T00:12:19.380552

BILLS-118sres734is

Recognizing 30 years since the International Conference on Population and Development in Cairo, Egypt, and reaffirming the goals and ideals of the International Conference on Population and Development Programme of Action, including comprehensive sexual and reproductive health and rights.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 734 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. RES. 734 Recognizing 30 years since the International Conference on Population and Development in Cairo, Egypt, and reaffirming the goals and ideals of the International Conference on Population and Development Programme of Action, including comprehensive sexual and reproductive health and rights. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 13, 2024 Mrs. Shaheen (for herself and Ms. Duckworth) submitted the following resolution; which was referred to the Committee on Foreign Relations _______________________________________________________________________ RESOLUTION Recognizing 30 years since the International Conference on Population and Development in Cairo, Egypt, and reaffirming the goals and ideals of the International Conference on Population and Development Programme of Action, including comprehensive sexual and reproductive health and rights. Whereas the United States played a central role in the creation of the United Nations in 1945 following World War II to promote international cooperation; Whereas the United States encouraged the establishment of the United Nations Population Fund (in this preamble referred to as ``UNFPA'') in 1969 and continues to serve on the Executive Board of the UNFPA; Whereas the International Conference on Population and Development (in this preamble referred to as ``ICPD''), which was attended by officials from the Executive Office of the President, Congress, and United States civil society and private sector organizations, was convened by the UNFPA and the Population Division of the United Nations Department for Economic and Social Information and Policy Analysis in Cairo, Egypt, from September 5 to September 13, 1994, for the purpose of addressing critical issues regarding population, development, and human rights; Whereas the resulting ICPD Programme of Action, to which the United States is a signatory, asserts that the focus of development policy must be the human rights and dignity of individuals and the improvement of individual lives, measured by progress in addressing inequalities; Whereas civil society played an indispensable role in shaping and executing the ICPD Programme of Action and continues to do so today; Whereas, since the adoption of the ICPD Programme of Action in 1994, significant progress has been made towards universal access to sexual and reproductive health and rights, including-- (1) a global increase in voluntary access to modern contraception by 25 percent; (2) a decline in the number of deaths due to unsafe abortion from 69,000 in 1990 to 22,800 in 2014, due to liberalization of abortion laws and increased access to safe, and effective methods of abortion across the globe; (3) a decrease in maternal deaths by 34 percent globally; and (4) enhanced access to medical advances, such as the development of antiretroviral therapies, which 29,800,000 people living with human immunodeficiency virus (HIV) accessed in 2022, contributing to significant decreases in HIV acquisition and transmission; Whereas gaps and challenges in achieving the goals of the ICPD Programme of Action remain as progress has been unequal and fragmented and new challenges have emerged, such as-- (1) the 218,000,000 women globally who have unmet contraceptive needs; (2) the 287,000 women who die annually from complications during pregnancy and childbirth globally, nearly all of which are preventable and 1 out of 4 of which could be prevented by access to contraception; (3) the approximately 11 percent of maternal deaths that can be attributed to unsafe abortion; (4) the more than 1,000,000 sexually transmitted infections (STIs) that are-- G (A) acquired globally every day because access to education about STIs and STI testing is not universally available due to a lack of trained personnel, comprehensive sexual education, laboratory capacity, and medicines; G (B) too often untreated, as an estimated 133,000,000 women of reproductive age in low to middle income countries need but do not receive treatment for 1 of the 4 major curable STIs-- chlamydia, gonorrhea, syphilis, and trichomoniasis; and G (C) exacerbated by the separation of STI services from other services, such as primary health care or family planning; (5) the reduction in maternal mortality that has stalled in 133 countries and increase in maternal mortality in 17 countries from 2016 to 2020; (6) the individuals living with HIV or at risk of HIV transmission, including the-- G (A) 1,700,000 individuals who became newly infected with HIV in 2022, 54 percent of which are among key populations, and their sexual partners, whose risk of acquiring HIV is 22 times higher among men who have sex with men, 22 times higher among people who inject drugs, 21 times higher for sex workers, and 12 times higher for transgender individuals; and G (B) adolescent girls and young women (ages 15 to 24), who are at a higher risk of becoming infected with HIV and who account for 4 out of 5 new infections among all adolescents (aged 15 to 19) in sub-Saharan Africa; (7) the 35 percent of women globally who have experienced physical or sexual intimate partner violence or sexual violence, or sexual violence by a non-partner at some point in their lives, a vulnerability that may increase as a result of characteristics such as sexual orientation, disability status, HIV status, and pregnancy, or contextual factors, such as humanitarian crises and conflict; and (8) the 48,000,000 women and girls of reproductive age who are in need of humanitarian assistance; Whereas the ICPD Programme of Action and other international human rights standards recognize that access to evidence-based, comprehensive sexual and reproductive health care, including abortion, is an essential human right, and that ending gender-based violence and the prevention and treatment of HIV are key priorities to advancing sexual and reproductive health and rights for all people, and attaining the ICPD Programme of Action milestones and the Sustainable Development Goals of the United Nations Department of Economic and Social Affairs; Whereas the ICPD Programme of Action calls for the right of all people to have a satisfying and safe sex life, the capability to reproduce, and the freedom to decide if, when, and how often to do so; Whereas the ICPD Programme of Action calls for the right of all people to be informed and to have access to safe, effective, affordable and acceptable methods of family planning of their choice, free of coercion, violence, misinformation, and discrimination; Whereas the ICPD called on governments to commit, at the highest political level, to achieving the goals and objectives of the Programme of Action and to take a leading role in coordinating the implementation, monitoring, and evaluation of follow-up actions; Whereas the United Nations General Assembly-- (1) endorsed the ICPD Programme of Action in 1995; (2) affirmed that governments should commit themselves to the goals and objectives of the Programme of Action; and (3) called upon all governments to give the widest possible dissemination of the Programme of Action and seek public support for the goals, objectives, and actions of the Programme of Action; Whereas 400 youth delegates from 60 countries, including the United States-- (1) met for the ICPD30 Global Youth Dialogue in Cotonou, Benin, on April 4 to 5, 2024, to reaffirm the pivotal and active role young people have played globally in promoting, protecting, and delivering the ICPD Programme of Action and through the resulting Cotonou Youth Action Agenda; and (2) called on all United Nations Member States, duty bearers, and stakeholders to implement, resource, and institutionalize global commitments that provide youth-centered, accessible, safe, gender- responsive, quality sexual and reproductive health services, and supplies within universal health coverage programs, including menstrual health management, the full range of modern contraceptives, comprehensive abortion care services, HIV services, and self-managed care; Whereas members of parliament from all regions of the world, with presence from the House of Representatives, met in Oslo, Norway, on April 10 to 12, 2024, for the eighth International Parliamentarians' Conference on the Implementation (in this preamble referred to as ``IPCI'') of the International Conference on Population and Development and through the resulting Oslo Statement of Commitment, members expressed deep concern about the global backlash against the sexual and reproductive health and rights agenda that has been observed in multiple countries, including the lack of agency for women and girls, which deepens social inequalities and undermines human rights, democracy, gender equality, and the collective efforts to build more inclusive and resilient societies; Whereas, in the 2024 State of the World Population Report, UNFPA reviewed progress in achieving the ICPD Programme of Action, indicating that significant progress has been made, but entrenched inequalities deprive millions of individuals from fundamental sexual and reproductive health and rights; Whereas the inability of the international community to reach the most marginalized individuals globally is largely due to unwillingness to confront the legacies of gender inequality, racial discrimination, and misinformation that underlie health systems; Whereas the United States Government, in its Statement at UN Commission on Population and Development's 57th Annual Session on April 30, 2024, affirmed that reproductive rights are central to an inclusive, thriving society, and that seeking to achieve such rights unequivocally transforms the lives of women and girls, in all of their diversity, around the world, for the better; and Whereas the Blueprint for Sexual and Reproductive Health, Rights, and Justice calls on the United States Government to mark the 30th anniversary of ICPD with a high level event that recommits the United States Government to the ICPD Programme of Action and delivers sexual and reproductive health and rights for all through rhetoric and action on programs, policy, and funding: Now, therefore, be it Resolved, That the Senate-- (1) commends the notable progress made in achieving the goals set in 1994 at the International Conference on Population and Development (referred to in this resolution as the ``ICPD'') and the follow up and outcomes of subsequent review conferences; (2) recommits to the achievement of the goals of the ICPD; (3) champions the right to bodily autonomy and self- determination for all people; (4) recognizes that sexual and reproductive health and rights, including safe abortion, are human rights, and that sexual and reproductive health and rights are a precondition for the empowerment of women, gender equality, and the well- being and prosperity of all people; (5) commits to advocating for and providing comprehensive and factual information and a full range of sexual and reproductive health care services that are accessible, affordable, acceptable, of good quality, and convenient to all individuals; (6) acknowledges that without a clear commitment to a human rights-based approach to development, reproductive health, and gender equality, meeting the goals of either the ICPD or the Sustainable Development Goals will not be possible; (7) acknowledges and condemns the recent backsliding that-- (A) has occurred domestically and the egregious impact such backsliding has had globally, particularly regarding abortion access and the rights of the LGBTQIA+ community; and (B) is contrary to evidence-based health practices and established human rights norms and could set back the progress made on reducing unsafe abortions, reducing maternal mortality, and reducing stigma against treatment for the human immunodeficiency virus and acquired immunodeficiency syndrome; (8) accepts the responsibility of the United States, as the largest funder of global health, to uphold the goals of ICPD and set a global example through United States funding and policies, which affirmatively advance Federal development commitments and the realization of human rights; (9) supports the urgent need to scale up funding for bilateral international family planning and reproductive health programs and the United States contribution to United Nations Population Fund, which have been flat funded for 14 years, and to permanently end harmful policies like the global gag rule and Helms Amendment, which undermine global access to comprehensive health care information and services and the ability to achieve the vision laid out in the ICPD Programme of Action; (10) opposes and condemns reproductive coercion in all forms, consistent with the ICPD Programme of Action, including-- (A) the use of incentives or disincentives to lower or raise fertility; (B) the use of incentives or targets for the uptake of specific contraceptive methods; (C) withholding of information on reproductive health options; and (D) forced abortion, forced sterilization, and forced pregnancy; and (11) calls on the Administration of President Joseph R. Biden, Jr., to fully implement the National Strategy on Gender Equity and Equality, including the strategic priority to ``Protect, Improve, and Expand Access to Health Care, including Sexual and Reproductive Health Care''. <all>

usgpo

2024-06-24T00:12:26.177923

BILLS-118s4307is

Fair and Timely Citizen Suits Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4307 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4307 To amend the Clean Air Act, the Federal Water Pollution Control Act, and the Endangered Species Act of 1973 to modify requirements for citizen suits under those Acts, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Rubio (for himself and Mr. Cramer) introduced the following bill; which was read twice and referred to the Committee on Environment and Public Works _______________________________________________________________________ A BILL To amend the Clean Air Act, the Federal Water Pollution Control Act, and the Endangered Species Act of 1973 to modify requirements for citizen suits under those Acts, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Fair and Timely Citizen Suits Act of 2024''. SEC. 2. CITIZEN SUITS. (a) Clean Air Act.--Section 304 of the Clean Air Act (42 U.S.C. 7604) is amended-- (1) in subsection (b)-- (A) in paragraph (1)-- (i) in subparagraph (A), in the matter preceding clause (i), by striking ``60 days'' and inserting ``120 days''; and (ii) in subparagraph (B), by striking the period at the end and inserting a semicolon; (B) in paragraph (2)-- (i) by striking ``60 days'' and inserting ``120 days''; and (ii) by striking the comma at the end and inserting ``; and''; (C) by inserting after paragraph (2) the following: ``(3) under paragraph (1) or (2) of subsection (a) after the 120-day period beginning on the date on which the 120-day period described in paragraph (1)(A) or (2), as applicable, ends,''; and (D) in the undesignated matter following paragraph (3) (as added by subparagraph (C)), by adding at the end the following: ``If the 120-day period under paragraph (3) has elapsed with respect to a notice for an action under paragraph (1) or (2) of subsection (a) without commencing the action, the plaintiff may not resubmit the notice required under this section or commence the action.''; and (2) in subsection (c), by adding at the end the following: ``(4) District court judgment.--A district court of the United States shall render a final judgment on an action under this section as expeditiously as practicable. ``(5) Appellate review.--A court of appeals of the United States shall render final judgment on an action under this section subject to its original jurisdiction or an interlocutory order or final judgment, decree, or order of a district court of the United States in an action under this section-- ``(A) as expeditiously as practicable; and ``(B) not later than the date that is 1 year after the date on which the applicable interlocutory order or final judgment, decree, or order of the district court was issued.''. (b) Federal Water Pollution Control Act.--Section 505 of the Federal Water Pollution Control Act (33 U.S.C. 1365) is amended-- (1) in subsection (b)-- (A) in paragraph (1)-- (i) in subparagraph (A), in the matter preceding clause (i), by striking ``sixty days'' and inserting ``120 days''; and (ii) in subparagraph (B), by striking the period at the end and inserting a semicolon; (B) in paragraph (2)-- (i) by striking ``sixty days'' and inserting ``120 days''; and (ii) by striking the comma at the end and inserting ``; and''; (C) by inserting after paragraph (2) the following: ``(3) under paragraph (1) or (2) of subsection (a) after the 120-day period beginning on the date on which the 120-day period described in paragraph (1)(A) or (2), as applicable, ends,''; and (D) in the undesignated matter following paragraph (3) (as added by subparagraph (C)), by adding at the end the following: ``If the 120-day period under paragraph (3) has elapsed with respect to a notice for an action under paragraph (1) or (2) of subsection (a) without commencing the action, the plaintiff may not resubmit the notice required under this section or commence the action.''; and (2) in subsection (c), by adding at the end the following: ``(4) District court judgment.--A district court of the United States shall render a final judgment on an action under this section as expeditiously as practicable. ``(5) Appellate review.--A court of appeals of the United States shall render final judgment on an action under this section subject to its original jurisdiction or an interlocutory order or final judgment, decree, or order of a district court of the United States in an action under this section-- ``(A) as expeditiously as practicable; and ``(B) not later than the date that is 1 year after the date on which the applicable interlocutory order or final judgment, decree, or order of the district court was issued.''. (c) Endangered Species Act of 1973.--Section 11(g) of the Endangered Species Act of 1973 (16 U.S.C. 1540(g)) is amended-- (1) in paragraph (2)-- (A) in subparagraph (A)-- (i) in the matter preceding clause (i), by striking ``subparagraph (1)(A) of this section'' and inserting ``paragraph (1)(A)''; and (ii) in clause (i), by striking ``sixty days'' and inserting ``120 days''; (B) in subparagraph (B)-- (i) in the matter preceding clause (i), by striking ``subparagraph (1)(B) of this section'' and inserting ``paragraph (1)(B)''; and (ii) in clause (i), by striking ``sixty days'' and inserting ``120 days''; (C) in subparagraph (C), by striking ``subparagraph (1)(C) of this section prior to sixty days'' and inserting ``paragraph (1)(C) prior to 120 days''; and (D) by adding at the end the following: ``(D) No action may be commenced under subparagraph (A), (B), or (C) of paragraph (1) after the 120-day period beginning on the date on which the 120-day period described subparagraph (A)(i), (B)(i), or (C), as applicable, ends. ``(E) If the 120-day period under subparagraph (D) has elapsed with respect to a notice for an action under subparagraph (A), (B), or (C) of paragraph (1) without commencing the action, the plaintiff may not resubmit the notice required under this subsection or commence the action.''; and (2) by adding at the end the following: ``(6) District Court Judgment.--A district court of the United States shall render a final judgment on an action under this subsection as expeditiously as practicable. ``(7) Appellate Review.--A court of appeals of the United States shall render final judgment on an action under this subsection subject to its original jurisdiction or an interlocutory order or final judgment, decree, or order of a district court of the United States in an action under this subsection-- ``(A) as expeditiously as practicable; and ``(B) not later than the date that is 1 year after the date on which the applicable interlocutory order or final judgment, decree, or order of the district court was issued.''. <all>

usgpo

2024-06-24T00:12:26.115043

BILLS-118s4308is

Competition and Antitrust Law Enforcement Reform Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4308 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4308 To reform the antitrust laws to better protect competition in the American economy, to amend the Clayton Act to modify the standard for an unlawful acquisition, to deter anticompetitive exclusionary conduct that harms competition and consumers, to enhance the ability of the Department of Justice and the Federal Trade Commission to enforce the antitrust laws, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Ms. Klobuchar (for herself, Mr. Blumenthal, Mr. Whitehouse, Ms. Hirono, Mr. Booker, Mr. Welch, Mr. Warner, Mr. Wyden, Mr. Heinrich, Mr. Markey, Mr. Schatz, and Ms. Smith) introduced the following bill; which was read twice and referred to the Committee on the Judiciary _______________________________________________________________________ A BILL To reform the antitrust laws to better protect competition in the American economy, to amend the Clayton Act to modify the standard for an unlawful acquisition, to deter anticompetitive exclusionary conduct that harms competition and consumers, to enhance the ability of the Department of Justice and the Federal Trade Commission to enforce the antitrust laws, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Competition and Antitrust Law Enforcement Reform Act of 2024''. SEC. 2. FINDINGS AND PURPOSES. (a) Findings.--Congress finds that-- (1) competitive markets, in which multiple firms compete to buy and sell products and services, are critical to ensuring economic opportunity for all people in the United States and providing resilience to the economy during unpredictable times; (2) when companies compete, businesses offer the highest quality and choice of goods and services for the lowest possible prices to consumers and other businesses; (3) competition fosters small business growth, reduces economic inequality, and spurs innovation and job creation; (4) competitive markets are crucial for the United States global economic competitiveness and national security; (5) in the United States economy today, the presence and exercise of market power is substantial and growing; (6) the presence and exercise of market power makes it more difficult for people in the United States to start their own businesses, depresses wages, and increases economic inequality, with particularly damaging effects on historically disadvantaged communities; (7) market power and undue market concentration contribute to the consolidation of political power, undermining the health of democracy in the United States; (8) the anticompetitive effects of monopoly power or buyer market power include higher prices, lower quality, lessened choice, reduced innovation, foreclosure of competitors, and increased entry barriers; (9) monopsony power or seller market power allows a firm to force suppliers of goods or services to accept below market prices or to force workers to accept below market wages, resulting in lower quality products and services, reduced opportunities for suppliers and workers, reduced availability of products and services for consumers, reduced innovation, foreclosure of competitors, and increased entry barriers; (10) horizontal consolidation, vertical consolidation, and conglomerate mergers all have the potential to increase market power and cause anticompetitive harm; (11) extensive consolidation is reducing competition and threatens to place the American dream further out of reach for many consumers in the United States; (12) since 2008, firms in the United States have engaged in over $10,000,000,000,000 in mergers and acquisitions; (13) the acquisition of nascent or potential rivals by dominant firms can present significant long-term threats to competition and innovation and harm the global economic competitiveness of the United States; (14) the acquisition, by one of its competitors, of a maverick firm that plays a disruptive role in the market, by using an innovative business model or technology, offering lower prices or new, different products or services products, or by other means that benefit consumers, often presents a threat to competition; (15) section 7 of the Clayton Act (15 U.S.C. 18) is the primary line of defense against anticompetitive mergers; (16) in recent years, some court decisions and enforcement policies have limited the vitality of the Clayton Act to prevent harmful consolidation by-- (A) discounting previously accepted presumptions that certain acquisitions are anticompetitive; (B) focusing inordinately on the effect of an acquisition on price in the short term, to the exclusion of other potential anticompetitive effects; (C) underestimating the dangers that horizontal, vertical, and conglomerate mergers will lower quality, reduce choice, impede innovation, exclude competitors, increase entry barriers, or create buyer power, including monopsony power; (D) failing to properly account for direct evidence of competitive harm, including intent evidence; and (E) requiring the government to prove harmful effects of a proposed merger to a near certainty; (17) anticompetitive exclusionary conduct constitutes a particularly harmful exercise of market power and a substantial threat to the United States economy; (18) when dominant sellers exercise market power, they harm buyers by overcharging them, reducing product or service quality, limiting their choices, and impairing innovation; (19) when dominant buyers exercise market power, they harm suppliers by underpaying them, limiting their business opportunities, and impairing innovation; (20) when dominant employers exercise market power, they harm workers by paying them low wages, reducing their benefits, and limiting their future employment opportunities; (21) nascent or potential rivals, even those that are unprofitable or inefficient, are an important source of competitive discipline for dominant firms; (22) antitrust enforcement against anticompetitive exclusionary conduct has been impeded when courts have declined to rigorously examine the facts in favor of relying on inaccurate economic assumptions that are inconsistent with contemporary economic learning, such as presuming that market power is not durable and can be expected to self-correct, that monopolies can drive as much or more innovation than a competitive market, that above-cost pricing cannot harm competition, and other flawed assumptions; (23) the courts of the United States have improperly implied immunity from the antitrust laws based on Federal regulatory statutes, even limiting the application of statutory antitrust savings clauses passed by Congress; (24) the civil remedies currently available to cure violations of the Sherman Antitrust Act, including injunctions, equitable monetary relief, and private damages, have not proven sufficient, on their own, to deter anticompetitive conduct; (25) in some cases, effective deterrence requires the imposition of civil penalties, alone or in combination with existing remedies, including structural relief, behavioral relief, private damages, and equitable monetary relief, including disgorgement and restitution; and (26) Federal antitrust enforcement budgets have failed to keep pace with the growth of the economy and increasing demands on agency resources, significantly undermining the ability of the Federal antitrust agencies to fulfill their law enforcement missions and contributing to the rise of market power in the American economy. (b) Purposes.--The purposes of this Act are to-- (1) enhance competition throughout the American economy by strengthening antitrust enforcement by the Department of Justice, the Federal Trade Commission, the State enforcement agencies, and private parties; (2) revise the legal standard under section 7 of the Clayton Act to better enable enforcers to arrest the likely anticompetitive effects of harmful mergers in their incipiency, as Congress intended, by clarifying that the potential effects that may justify prohibiting a merger under the Clayton Act include lower quality, reduced choice, reduced innovation, the exclusion of competitors, or increased entry barriers, in addition to increased price to buyers or reduced price to sellers; (3) amend the Clayton Act to clarify that an acquisition that tends to create a monopsony violates the Clayton Act; (4) establish simple, cost-effective decision rules that require the parties to certain acquisitions that either significantly increase concentration or are extremely large bear the burden of establishing that the acquisition will not materially harm competition; (5) prohibit and deter exclusionary conduct that harms competition, particularly by dominant firms; (6) enable the Department of Justice and the Federal Trade Commission to seek civil monetary penalties, in addition to existing remedies, for violations of the Sherman Act; (7) give the Department of Justice and the Federal Trade Commission additional financial resources and enforcement tools to craft remedies for individual violations that are effective to deter future unlawful conduct and proportionate to the gravity of the violation; (8) provide further protections for those who provide evidence of anticompetitive conduct to government enforcers and potential financial rewards for whistleblowers who provide information to the government that leads to a criminal fine; and (9) grant successful antitrust plaintiffs the right to obtain prejudgment interest on damages awards to further deter anticompetitive conduct and increase compensation to injured parties. SEC. 3. DEFINITION. In this Act the term ``antitrust laws''-- (1) has the meaning given that term in the first section of the Clayton Act (15 U.S.C. 12); and (2) includes-- (A) section 5 of the Federal Trade Commission Act (15 U.S.C. 45) to the extent that such section applies to unfair methods of competition; and (B) this Act and the amendments made by this Act. SEC. 4. UNLAWFUL ACQUISITIONS. (a) Market Power.--Subsection (a) of the first section of the Clayton Act (15 U.S.C. 12) is amended by adding at the end the following: ``The term `market power' in this Act means the ability of a person, or a group of persons acting in concert, to profitably impose terms or conditions on counterparties, including terms regarding price, quantity, product or service quality, or other terms affecting the value of consideration exchanged in the transaction, that are more favorable to the person or group of persons imposing them than what the person or group of persons could obtain in a competitive market.''. (b) Unlawful Acquisitions.--Section 7 of the Clayton Act (15 U.S.C. 18) is amended-- (1) in the first and second undesignated paragraphs, by striking ``substantially to lessen'' each place that term appears and inserting ``to create an appreciable risk of materially lessening''; (2) by inserting ``or a monopsony'' after ``monopoly'' each place that term appears; and (3) by adding at the end the following: ``In a case brought by the United States, the Federal Trade Commission, or a State attorney general, a court shall determine that the effect of an acquisition described in this section may be to create an appreciable risk of materially lessening competition or to tend to create a monopoly or a monopsony, in or affecting commerce, if-- ``(1) the acquisition would lead to a significant increase in market concentration in any relevant market; ``(2) the acquisition would increase the ability and incentive to engage in exclusionary conduct, as defined in section 26A of the Clayton Act; ``(3)(A) the acquiring person has a market share of greater than 50 percent or otherwise has significant market power, as a seller or a buyer, in any relevant market, and as a result of the acquisition, the acquiring person would obtain control over entities or assets that compete or have a reasonable probability of competing with the acquiring person in the same relevant market; or ``(B) as a result of the acquisition, the acquiring person would obtain control over entities or assets that have a market share of greater than 50 percent or otherwise have significant market power, as a seller or a buyer, in any relevant market, and the acquiring person competes or has a reasonable probability of competing with the entities or assets over which it would obtain control, as a result of the acquisition, in the same relevant market; ``(4) the acquisition would lead to the combination of entities or assets that compete or have a reasonable probability of competing in a relevant market, and either the acquiring person or the entities or assets over which it would obtain control prevents, limits, or disrupts coordinated interaction among competitors in a relevant market or has a reasonable probability of doing so; ``(5) the acquisition-- ``(A) would likely enable the acquiring person to unilaterally and profitably exercise market power or materially increase its ability to do so; or ``(B) would materially increase the probability of coordinated interaction among competitors in any relevant market; or ``(6)(A) the acquisition is not a transaction that is described in section 7A(c); and ``(B)(i) as a result of such acquisition, the acquiring person would hold an aggregate total amount of the voting securities and assets of the acquired person in excess of $5,000,000,000 (as adjusted and published for each fiscal year beginning after September 30, 2024, in the same manner as provided in section 8(a)(5) to reflect the percentage change in the gross national product for such fiscal year compared to the gross national product for the year ending September 30, 2023; or ``(ii)(I) the person acquiring or the person being acquired has assets, net annual sales, or a market capitalization greater than $100,000,000,000 (as so adjusted and published); and ``(II) as a result of such acquisition, the acquiring person would hold an aggregate total amount of the voting securities and assets of the acquired person in excess of $50,000,000 (as so adjusted and published), unless the acquiring or acquired person establishes, by a preponderance of the evidence, that the effect of the acquisition will not be to create an appreciable risk of materially lessening competition or will not tend to create a monopoly or a monopsony. In this paragraph, the term `materially' means more than a de minimis amount''. SEC. 5. POST-PROCEEDING DATA. Section 7A of the Clayton Act (15 U.S.C. 18a) is amended by adding at the end the following: ``(l)(1) Each person who resolves a proceeding brought under the antitrust laws by the Federal Trade Commission or United States by entering into an agreement or by the final judgment in a Federal or administrative court regarding an acquisition with respect to which notification is required under this section shall, on an annual basis during the 5-year period beginning on the date on which the agreement is entered into, file with the Federal Trade Commission or the Assistant Attorney General, as applicable, and the Competition Advocate, information sufficient for the Federal Trade Commission or the United States, as applicable, to assess the competitive impact of the acquisition, including-- ``(A) the pricing, availability, and quality of any product or service, or inputs thereto, in any market, that was covered by the agreement; ``(B) the source, and the resulting magnitude and extent, of any cost-saving efficiencies or any benefits to consumers or trading partners that were claimed as a benefit of the acquisition and the extent to which any cost savings were passed on to consumers or trading partners; and ``(C) the effectiveness of any divestitures or any conditions placed on the acquisition in fully restoring competition. ``(2) The requirement to provide the information described in paragraph (1) shall be included in an agreement described in that paragraph. ``(3) The Federal Trade Commission, with the concurrence of the Assistant Attorney General, by rule in accordance with section 553 of title 5, United States Code, and consistent with the purposes of this section-- ``(A) shall require that the information described in paragraph (1) be in such form and contain such documentary material and information relevant to an acquisition as is necessary and appropriate to enable the Federal Trade Commission and the Assistant Attorney General to assess the competitive impact of the acquisition under paragraph (1); and ``(B) may-- ``(i) define the terms used in this subsection; ``(ii) exempt, from the requirements of this section, information not relevant in assessing the competitive impact of the acquisition under paragraph (1); and ``(iii) prescribe such other rules as may be necessary and appropriate to carry out the purposes of this section.''. ``(4) The chief executive officer, chief financial officer, general counsel, or a corporate officer of similar authority shall certify, under penalty of perjury, the accuracy of a report under this subsection.''. SEC. 6. FEDERAL TRADE COMMISSION STUDY. (a) In General.--Not later than 2 years after the date of enactment of this Act, the Federal Trade Commission, in consultation with the Securities and Exchange Commission, shall conduct and publish a study, pursuant to section 6(b) of the Federal Trade Commission Act, relying on public data and information if available and sufficient, and incorporating public comment on-- (1) the extent to which an institutional investor or related institutional investors have ownership or control interests in competitors in moderately concentrated or concentrated markets; (2) the impacts of such overlapping ownership or control on competition; and (3) the mechanisms by which an institutional investor could affect competition among the companies in which it invests and whether such mechanisms are prevalent. (b) Exemption From Paperwork Reduction Act.--Chapter 35 of title 44, United States Code, shall not apply to the collection of information under subsection (a). SEC. 7. GAO STUDIES. (a) In General.--Not later than 18 months after the date of enactment of this Act, the Comptroller General of the United States shall-- (1) conduct and publish a study to assess the success of merger remedies required by the Department of Justice or the Federal Trade Commission in consent decrees entered into during the 8-year period ending on the date on which the study is conducted, including the impact on maintaining competition, a comparison of structural and conduct remedies, and the viability of divested assets; and (2) conduct a study on the impact of mergers and acquisitions on wages, employment, innovation, and new business formation. (b) Update.--The Comptroller General of the United States shall-- (1) update the study under subsection (a)(1) every 4 years after the date of enactment of this Act, as added by section 5 of this Act; and (2) identify specific remedies or alleged merger benefits that require additional information or research. SEC. 8. OFFICE OF COMPETITION ADVOCATE. (a) Definitions.--In this section-- (1) the term ``agency'' has the meaning given that term in section 551 of title 5, United States Code; (2) the term ``Chair'' means the Chair of the Commission; (3) the term ``Commission'' means the Federal Trade Commission; (4) the term ``covered company'' means any company that has, at any time, been required to make a filing under section 7A of the Clayton Act (15 U.S.C. 18a); and (5) the term ``Office'' means the Office of the Competition Advocate established under subsection (b). (b) Establishment.--There is established within the Federal Trade Commission the Office of the Competition Advocate. (c) Competition Advocate.-- (1) In general.--The head of the Office shall be the Competition Advocate, who shall-- (A) report directly to, and be under the supervision of, the Chair, but the Chair shall not prevent or prohibit the Competition Advocate from initiating, carrying out, or completing any of its duties under this section; (B) be appointed by the Chair with the approval of the Commission, including at least 1 Commissioner who is not a member of the same political party as the Chair, from among individuals having experience in advocating for the promotion of competition; and (C) serve a term of 7 years and shall not be removable except upon a unanimous vote of the Commission. (2) Compensation.--The annual rate of pay for the Competition Advocate shall be equal to the highest rate of annual pay for other senior executives who report to the Chair of the Commission. (3) Limitation on service.--An individual who serves as the Competition Advocate may not be employed by the Commission-- (A) during the 2-year period ending on the date of appointment as Competition Advocate; and (B) during the 5-year period beginning on the date on which the person ceases to serve as the Competition Advocate. (d) Staff of Office.--The Commission shall allocate funds from the Commission budget to the Office of the Competition Advocate sufficient for the Competition Advocate to retain or employ such counsel, research staff, and service staff necessary to carry out the functions, powers, and duties of the Office. (e) Duties and Powers.--The Competition Advocate shall-- (1) recommend processes or procedures that will allow the Federal Trade Commission and the Antitrust Division of the Department of Justice to improve the ability of each agency to solicit reports from consumers, small businesses, and workers about possible anticompetitive practices or adverse effects of concentration; (2) provide recommendations to other agencies about agency actions that may have anticompetitive effects and the potential harm to competition; (3) provide recommendations to other agencies about agency actions that may have procompetitive effects and the potential benefit to competition; (4) publish periodic reports on-- (A) the effects of remedies required by the Department of Justice or the Federal Trade Commission in consent decrees; (B) the effects of law enforcement actions, whether successful or not, including settlements, preliminary injunctions, court-mandated remedies, or any other remedy imposed by a court or agreed to by the Department of Justice or Federal Trade Commission; (C) the effects of a decision by the Department of Justice or the Federal Trade Commission to allow any merger or transaction to move forward without a consent decree or bringing a law enforcement action; (D) the effects of decisions and opinions issues by State and Federal courts related to the antitrust laws on competition and the future enforcement of the antitrust laws; and (E) the effects of other agency actions, including rulemakings, on competition; (5) provide recommendations to the Federal Trade Commission and Department of Justice about the effectiveness of policy statements, guidelines, or practices to improve the enforcement of the antitrust laws; (6) report any evidence the Competition Advocate obtains that any person, partnership, or corporation has engaged in transactions or conduct that may constitute of a violation of the antitrust laws, or any settlement, agreement, or consent decree related to a potential violation of the antitrust laws, to the Commission, which may institute further investigation, initiate enforcement proceedings, or refer such evidence to the Attorney General; (7) request such information or assistance as may be necessary for carrying out the duties and powers described in this subsection from any agency or unit thereof, including the Commission. The head of any agency shall, insofar as is practicable and not in contravention of any existing statutory restriction or regulation of the agency from which the information is requested, furnish to the Competition Advocate such information or assistance; (8) have discretion to decide whether to release the recommendations of the Competition Advocate publicly; (9) have access to all information and data collected and retained by the Office of Market Analysis and Data; and (10) submit all recommendations or reports to the Committee on the Judiciary of the Senate and the Committee on the Judiciary of the House of Representatives. (f) Subpoena Authority.-- (1) In general.--The Competition Advocate may either accept voluntary submissions of periodic and other reports from any covered company, or compel the production of such a report by subpoena for the purpose of carrying out its duties and powers in subsection (e). (2) Independent subpoena authority.--Upon a finding that a covered company will not submit, or has not submitted, a sufficient report voluntarily, the Competition Advocate may, under its own independent authority, and notwithstanding any jurisdictional limitations in the Federal Trade Commission Act applicable to the Commission's investigative authority, compel the submission of a periodic or other reports from any covered company by issuing a subpoena. (3) Enforcement.--The Competition Advocate shall have independent authority to bring an action in any appropriate Federal court to enforce any subpoena issued under this subsection. (4) Written finding.--Before issuing a subpoena to collect the information described in paragraph (1), the Competition Advocate shall make a written finding that-- (A) the data is required to carry out the functions of the Competition Advocate; and (B) the information is not available from a public source, from the covered company on a voluntary basis, or another agency. (5) Mitigation of report burden.--Before requiring the submission of a report from any covered company, the Competition Advocate shall-- (A) coordinate with other agencies or authority; and (B) whenever possible, rely on information available from such agencies or authority. (6) Confidentiality.--Information reported to or otherwise obtained by the Competition Advocate shall be subject to the same confidentiality requirements and protection applicable to information reported to or otherwise obtained by the Commission. SEC. 9. OFFICE OF MARKET ANALYSIS AND DATA. (a) Establishment.--There is established, within the Federal Trade Commission, an Office of Market Analysis and Data. (b) Duties.--The Office of Market Analysis and Data shall, in consultation with the Bureau of Economics, assist the Federal Trade Commission in-- (1) collecting, validating, and maintaining data obtained from agencies, as defined in section 551 of title 5, United States Code, commercial data providers, publicly available data sources, any covered company, and any data obtained by the Commission pursuant to its authority under section 6(b) of the Federal Trade Commission Act (15 U.S.C. 46(b)), for the purpose of carrying out the functions in paragraphs (2) through (6); (2) preparing and publishing, in a manner that is easily accessible to the public-- (A) a concentration database; (B) a merger enforcement database; and (C) any other database that the Commission determines is necessary to carry out the duties of the Office; (3) collecting and publishing data regarding concentration levels across industries and the impact and degree of antitrust enforcement; (4) standardizing the types and formats of data reported and collected, including standards for reporting financial transaction and position data; (5) publishing reports regarding competitive conditions and dynamics affecting markets or industry sectors, in the United States, local geographic markets, different demographic and socioeconomic groups (including the effects that market concentration, mergers and acquisitions, certain types of agreements, and other forms of business conduct have on competition), consumers, workers, innovation, the economic competitiveness of the United States, economic resilience, and national security; and (6) publishing reports concerning the competitive effects of acquisitions, which shall include recommendations concerning appropriate enforcement action to remedy any anticompetitive effects discovered, and may include assessments of-- (A) the conditions of the relevant markets affected by the acquisition, over the period since the acquisition was consummated, including, but not limited to, the potential impact that the acquisition has had on-- (i) the prices of goods or services, including wages in any affected labor markets; (ii) the output and quality of goods and services; (iii) the entry or exit of competitors; (iv) innovation; (v) consumer choice and product variety; (vi) the opportunity of suppliers and vendors to sell their products or services; (vii) coordinated interaction between competitors; and (viii) subsequent mergers and acquisitions activity; (B) whether the acquiring person or its successors in interest-- (i) complied with all obligations under any agreement with the Federal Trade Commission, the United States, or State law enforcement authorities to resolve a proceeding brought under the antitrust laws; and (ii) achieved measurable, transaction- specific efficiencies, which did not arise from anticompetitive reductions of output, as a result of the acquisition; and (C) whether any agreements with the Federal Trade Commission or the United States or remedies imposed by a Federal court to resolve a proceeding brought under the antitrust laws regarding the acquisition was effective in mitigating the anticompetitive effects from the acquisition. (c) Information Security.--The Commission shall ensure that data collected and maintained by the Office of Market Analysis and Data is kept secure and protected against unauthorized disclosure. (d) Regulations.--The Commission may, under section 553 of title 5, United States Code, promulgate regulations relating to the collection and standardizing of data under subsection (b). SEC. 10. EXCLUSIONARY CONDUCT. (a) In General.--The Clayton Act (15 U.S.C. 12 et seq.) is amended by inserting after section 26 (15 U.S.C. 26a) the following: ``SEC. 26A. EXCLUSIONARY CONDUCT. ``(a) Definitions.--In this section: ``(1) Exclusionary conduct.-- ``(A) In general.--The term `exclusionary conduct' means conduct that-- ``(i) materially disadvantages 1 or more actual or potential competitors; or ``(ii) tends to foreclose or limit the ability or incentive of 1 or more actual or potential competitors to compete. ``(B) Limitations.-- ``(i) In general.--Applying for or enforcing a patent, trademark, or copyright, unless such applications or enforcement actions are baseless or made in bad faith or in violation of a legal obligation, shall not alone constitute exclusionary conduct, but such actions may be considered as part of a course of conduct that constitutes exclusionary conduct. ``(ii) Conduct.--Conduct that is necessary to comply with Federal or State law shall not alone constitute exclusionary conduct, but such actions may be considered as part of a course of conduct that constitutes exclusionary conduct. ``(2) Market power.--The term `market power' means the ability of a person, or a group of persons acting in concert, to profitably impose terms or conditions on counterparties, including terms regarding price, quantity, product or service quality, or other terms affecting the value of consideration exchanged in the transaction, that are more favorable to the person or group of persons imposing them than what the person or group of persons could obtain in a competitive market. ``(b) Violation.-- ``(1) In general.--It shall be unlawful for a person, acting alone or in concert with other persons, to engage in exclusionary conduct that presents an appreciable risk of harming competition. ``(2) Unfair method of competition.--A violation of paragraph (1) shall also constitute an unfair method of competition under section 5 of the Federal Trade Commission Act (15 U.S.C. 45). ``(c) Presumption.-- ``(1) In general.--Except as provided in paragraph (2), exclusionary conduct shall be presumed to present an appreciable risk of harming competition and shall be a violation of subsection (b)(1) if the exclusionary conduct is undertaken, with respect to a relevant market, by a person or by a group of more than 1 person acting in concert that-- ``(A) has a market share of greater than 50 percent as a seller or a buyer in the relevant market; or ``(B) otherwise has significant market power in the relevant market. ``(2) Exception.--Paragraph (1) shall not apply if the defendant establishes, by a preponderance of the evidence, that-- ``(A) distinct procompetitive benefits of the exclusionary conduct in the relevant market eliminate the risk of harming competition presented by the exclusionary conduct; ``(B) 1 or more persons, not including any person participating in or facilitating the exclusionary conduct, have entered or expanded their presence in the market with the effect of eliminating the risk of harming competition posed by the exclusionary conduct; or ``(C) the exclusionary conduct does not present an appreciable risk of harming competition. ``(d) Considerations.--If the presumption in subsection (c) does not apply, the determination of whether exclusionary conduct presents an appreciable risk of harming competition shall be based on the totality of the circumstances, which may include consideration of-- ``(1) the extent to which any distinct procompetitive benefits of the exclusionary conduct substantially eliminate the risk of harming competition presented by the exclusionary conduct; and ``(2) whether 1 or more persons, not including any person participating in or facilitating the exclusionary conduct, have entered or expanded their presence in the market, substantially eliminating the risk of harming competition presented by the exclusionary conduct. ``(e) Limitations.--Although the following circumstances may constitute evidence of a violation of subsection (b)(1), such violation does not require finding-- ``(1) that the unilateral conduct of the defendant altered or terminated a prior course of dealing between the defendant and a person subject to the exclusionary conduct; ``(2) that the defendant treated persons subject to the exclusionary conduct differently than the defendant treated other persons; ``(3) that any price of the defendant for a product or service was below any measure of the costs to the defendant of providing the product or service; ``(4) that a defendant with significant market power in a relevant market has recouped or is likely to recoup the losses it incurred or incurs from below-cost pricing for products or services in the relevant market; ``(5) that the conduct of the defendant makes no economic sense apart from its tendency to harm competition; ``(6) that the risk of harming competition presented by the conduct of the defendant or any resulting actual harm to competition have been quantified or proven with quantitative evidence; or ``(7) that when a defendant operates a multi-sided platform business, the conduct of the defendant presents an appreciable risk of harming competition on more than 1 side of the multi- sided platform. ``(f) Civil Penalties.--Any person who violates subsection (b)(1) shall be liable to the United States for a civil penalty, which may be recovered in a civil action brought by the Attorney General of the United States, of not more than the greater of-- ``(1) 15 percent of the total United States revenues of the person for the previous calendar year; or ``(2) 30 percent of the United States revenues of the person in any line of commerce affected or targeted by the unlawful conduct during the period of the unlawful conduct.''. (b) Federal Trade Commission Authority.-- (1) In general.--The Clayton Act (15 U.S.C. 12 et seq.) is amended by inserting after section 26A, as added by subsection (a), the following: ``SEC. 26B. CIVIL PENALTIES. ``(a) Civil Penalty for Violation of Section 26A of the Clayton Act.--The Commission may commence a civil action in a district court of the United States against any person, partnership, or corporation who violates section 26A(b)(1) to recover a civil penalty, which shall accrue to the United States, in an amount not more than the greater of-- ``(1) 15 percent of the total United States revenues of the person, partnership, or corporation for the previous calendar year; or ``(2) 30 percent of the United States revenues of the person, partnership, or corporation in any line of commerce affected or targeted by the unlawful conduct during the period of the unlawful conduct. ``(b) Commission Litigation Authority.--Except as otherwise provided in section 16(a)(3) of the Federal Trade Commission Act (15 U.S.C. 56(a)(3)), the Commission shall have exclusive authority to commence or defend, and supervise the litigation of, any civil action authorized under section 26A and any appeal of such action in its own name by any of its attorneys designated by it for such purpose, unless the Commission authorizes the Attorney General to do so. The Commission shall inform the Attorney General of the exercise of such authority, and such exercise shall not preclude the Attorney General from intervening on behalf of the United States in such action and any appeal of such action as may be otherwise provided by law.''. (c) Enforcement Guidelines.-- (1) In general.--Not later than 1 year after the date of enactment of this Act, the Attorney General and the Federal Trade Commission shall issue joint guidelines outlining policies, practices, and analytical techniques relating to agency enforcement under section 26A of the Clayton Act, as added by subsection (a) of this section, with the goal of promoting transparency and deterring violations of such section 26A. (2) Updates.--The Attorney General and the Federal Trade Commission shall update the joint guidelines issued under subsection (a), as needed to reflect current agency policies and practices, but not less frequently than once every 5 years beginning on the date of enactment of this Act. (3) Public notice and comment.-- (A) Guidelines.--Before issuing guidelines under paragraph (1) or (2), the Attorney General and the Federal Trade Commission shall publish proposed guidelines in draft form and provide public notice and opportunity for comment for not less than 60 days after the date on which the guidelines are published. (B) Inapplicability of rulemaking provisions.--The provisions of section 553 of title 5, United States Code, shall not apply to the guidelines issued under this section. SEC. 11. PENALTIES FOR SHERMAN ACT VIOLATIONS. (a) Civil Penalty Amendments.-- (1) Section 1 of the sherman act.--Section 1 of the Sherman Antitrust Act (15 U.S.C. 1) is amended-- (A) by striking ``Every'' and inserting ``(a) Every''; and (B) by adding at the end the following: ``(b)(1) Every person who violates this section shall be liable to the United States for a civil or criminal penalty of not more than the greater of-- ``(A) 15 percent of the total United States revenues of the person for the previous calendar year; or ``(B) 30 percent of the United States revenues of the person in any part of the trade or commerce related to or targeted by the unlawful conduct under this section during the period of the unlawful conduct. ``(2) A penalty under this section may be recovered in a civil or criminal action brought by the United States.''. (2) Section 2 of the sherman act.--Section 2 of the Sherman Antitrust Act (15 U.S.C. 2) is amended-- (A) by striking ``Every'' and inserting ``(a) Every''; and (B) by adding at the end the following ``(b)(1) Every person who violates this section shall be liable to the United States for a civil penalty of not more than the greater of-- ``(A) 15 percent of the total United States revenues of the person for the previous calendar year; or ``(B) 30 percent of the United States revenues of the person in any part of the trade or commerce related to or targeted by the unlawful conduct under this section during the period of the unlawful conduct. ``(2) A civil penalty under this section may be recovered in a civil action brought by the United States.''. (3) Section 5 of the federal trade commission act.--Section 5 of the Federal Trade Commission Act (15 U.S.C. 45) is amended by adding at the end the following: ``(o)(1) The Commission may commence a civil action in a district court of the United States against any person, partnership, or corporation for a violation of subsection (a)(1) respecting an unfair method of competition that constitutes a violation of sections 1 or 2 of the Sherman Act (15 U.S.C. 1, 2) and to recover a civil penalty for such violation. ``(2) In an action under paragraph (1), any person, partnership, or corporation found to have violated subsection (a)(1) respecting an unfair method of competition that constitutes a violation of section 1 or 2 of the Sherman Act (15 U.S.C. 1, 2) shall be liable for a civil penalty of not more than the greater of-- ``(A) 15 percent of the total United States revenues of the person, partnership, or corporation for the previous calendar year; or ``(B) 30 percent of the United States revenues of the person, partnership, or corporation in any line of commerce related to or targeted by the unlawful conduct described in paragraph (1) during the period of the unlawful conduct.''. (4) Section 16 of the federal trade commission act.-- Section 16(a)(2) of the Federal Trade Commission Act (15 U.S.C. 56(a)(2)) is amended-- (A) in subparagraph (D), by striking ``or'' at the end; (B) in subparagraph (E)-- (i) by moving the margins 2 ems to the left; and (ii) by striking the semicolon and inserting ``; or''; and (C) by inserting after subparagraph (E) the following: ``(F) to recover civil penalties under section 5(o);''. (b) Rule of Construction.--The civil penalties provided in subsection (b) of section 1 of the Sherman Act (15 U.S.C. 1), subsection (b) of section 2 of the Sherman Act (15 U.S.C. 2), and subsection (o) of section 5 of the Federal Trade Commission Act (15 U.S.C. 45), as added by subsection (a) of this section, are in addition to, and not in lieu of, any other remedy provided by Federal law, including under-- (1) section 4 or 16 of the Clayton Act (15 U.S.C. 15, 26); or (2) section 13(b) of the Federal Trade Commission Act (15 U.S.C. 53(b)). SEC. 12. JOINT CIVIL PENALTY GUIDELINES. (a) In General.--Not later than 1 year after the date of enactment of this Act, the Attorney General and the Federal Trade Commission shall issue joint guidelines reflecting agency policies for determining the appropriate amount of a civil penalty to be sought under sections 1(b) and 2(b) of the Sherman Act (15 U.S.C. 1, 2), section 26A(f) of the Clayton Act, as added by section 10(a) of this Act, and section 5(o) of the Federal Trade Commission Act (15 U.S.C. 45), as added by section 11(a) of this Act, with the goal of promoting transparency and seeking remedies for individual violations that are effective in deterring future unlawful conduct and proportionate to the gravity of the violation. (b) Considerations.--In determining civil penalty amounts under sections 1(b) and 2(b) of the Sherman Act (15 U.S.C. 1, 2), section 26A(f) of the Clayton Act, as added by section 10(a) of this Act, and section 5(o) of the Federal Trade Commission Act (15 U.S.C. 45), as added by section 11(a) of this Act, a district court of the United States shall consider-- (1) the volume of commerce affected; (2) the duration and severity of the unlawful conduct; (3) the intent of the person undertaking the unlawful conduct; (4) the extent to which the unlawful conduct was egregious or a clear violation of the law; (5) whether the civil penalty is to be applied in combination with other remedies, including-- (A) structural remedies, behavioral conditions, or equitable disgorgement; or (B) other remedies available under section 4, 4A, 15, or 16 of the Clayton Act (15 U.S.C. 15, 15a, 25, 26) or section 13(b) of the Federal Trade Commission Act (15 U.S.C. 53(b)); (6) whether the person has previously engaged in the same or similar anticompetitive conduct; (7) the extent to which the penalty will act to deter future violations of the antitrust laws; and (8) whether the person undertook the conduct in violation of a preexisting consent decree or court order. (c) Updates.--The Attorney General and the Federal Trade Commission shall update the joint guidelines issued under subsection (a), as needed to reflect current agency policies and practices, but not less frequently than once every 5 years beginning on the date of enactment of this Act. (d) Public Notice and Comment.-- (1) Guidelines.--Before issuing guidelines under subsection (a) or subsection (c), the Attorney General and the Federal Trade Commission shall publish proposed guidelines in draft form and provide public notice and opportunity for comment for not less than 60 days after the date on which the guidelines are published. (2) Inapplicability of rulemaking provisions.--The provisions of section 553 of title 5, United States Code, shall not apply to the guidelines issued under this section. SEC. 13. MARKET DEFINITION. (a) In General.--Establishing liability under the antitrust laws does not require the definition of a relevant market, except when the definition of a relevant market is required, to establish a presumption or to resolve a claim, under a statutory provision that explicitly references the terms ``relevant market'', ``market concentration'', or ``market share''. Statutory references to the term ``line of commerce'' shall not constitute an exception to the foregoing rule that establishing liability under the antitrust laws does not require the definition of a relevant market. (b) Direct Evidence.--If direct evidence in the record is sufficient to prove actual or likely harm to competition, an appreciable risk to competition sufficient to satisfy the applicable statutory standard, or that the effect of an acquisition subject to section 7 of the Clayton Act (15 U.S.C. 18) may be to create an appreciable risk of materially lessening competition or to tend to create a monopoly or a monopsony, neither a court nor the Federal Trade Commission shall require definition of a relevant market in order to evaluate the evidence, to find liability, or to find that a claim has been stated under the antitrust laws. (c) Rule of Construction.--Nothing in this section may be construed to prevent a court or the Federal Trade Commission from considering evidence relating to the definition of proposed relevant markets to evaluate the merits of a claim under the antitrust laws. SEC. 14. LIMITATIONS ON IMPLIED IMMUNITY FROM THE ANTITRUST LAWS. (a) In General.--In any action or proceeding to enforce the antitrust laws with respect to conduct that is regulated under Federal statute, no court or adjudicatory body may find that the Federal statute, or any rule or regulation promulgated in accordance with the Federal statute, implicitly precludes application of the antitrust laws to the conduct unless-- (1) a Federal agency or department actively regulates the conduct under the Federal statute; (2) the Federal statute does not include any provision preserving the rights, claims, or remedies under the applicable antitrust laws or under any area of law that includes the antitrust laws; and (3) Federal agency or department rules or regulations, adopted by rulemaking or adjudication, explicitly require or authorize the defendant to undertake the conduct. (b) Existing Federal Regulation.--In any action or proceeding described in subsection (a), the antitrust laws shall be applied fully and without qualification or limitation, and the scope of the antitrust laws shall not be defined more narrowly on account of the existence of Federal rules, regulations, or regulatory agencies or departments, unless application of the antitrust laws is precluded or limited by-- (1) an explicit exemption from the antitrust laws under a Federal statute; or (2) an implied immunity that satisfies the requirements under subsection (a). SEC. 15. WHISTLEBLOWER PROTECTIONS. (a) Protections for Civil Whistleblowers.--The Clayton Act (15 U.S.C. 12 et seq.) is amended by inserting after section 27 (15 U.S.C. 26b) the following: ``SEC. 27A. ANTI-RETALIATION PROTECTION FOR CIVIL WHISTLEBLOWERS. ``(a) Whistleblower Protections for Employees, Contractors, Subcontractors, and Agents.-- ``(1) In general.--No employer may discharge, demote, suspend, threaten, harass, or in any other manner discriminate against a covered individual in the terms and conditions of employment of the covered individual because of any lawful act done by the covered individual-- ``(A) to provide or cause to be provided to the Federal Government or a person with supervisory authority over the covered individual (or such other person working for the employer who has the authority to investigate, discover, or terminate misconduct) information relating to any violation of, or any act or omission the covered individual reasonably believes to be a violation of, the applicable antitrust laws; or ``(B) to cause to be filed, testify in, participate in, or otherwise assist a Federal Government investigation or a Federal Government proceeding filed or about to be filed (with any knowledge of the employer) relating to any violation of, or any act or omission the covered individual reasonably believes to be a violation of, the applicable antitrust laws. ``(2) Limitation on protections.--Paragraph (1) shall not apply to any covered individual if-- ``(A) the covered individual planned and initiated a violation or attempted violation of the applicable antitrust laws; ``(B) the covered individual planned and initiated a violation or attempted violation of a criminal law in conjunction with a violation or attempted violation of the applicable antitrust laws; or ``(C) the covered individual planned and initiated an obstruction or attempted obstruction of an investigation by the Federal Government of a violation of the applicable antitrust laws. ``(3) Definitions.--In this section: ``(A) Applicable antitrust laws.--The term `applicable antitrust laws' means section 1, 2, or 3 of the Sherman Act (15 U.S.C. 1, 2, and 3) or section 5 of the Federal Trade Commission Act (15 U.S.C. 45) to the extent that such section applies to unfair methods of competition. ``(B) Covered individual.--The term `covered individual' means an employee, contractor, subcontractor, or agent of an employer. ``(C) Employer.--The term `employer' means a person, or any officer, employee, contractor, subcontractor, or agent of such person. ``(D) Federal government.--The term `Federal Government' means-- ``(i) a Federal regulatory or law enforcement agency; or ``(ii) any Member of Congress or committee of Congress. ``(E) Person.--The term `person' has the same meaning as in subsection (a) of the first section of the Clayton Act (15 U.S.C. 12(a)). ``(b) Enforcement Action.-- ``(1) In general.--A covered individual who alleges discharge or other discrimination by any employer in violation of subsection (a) may seek relief under subsection (c) by-- ``(A) filing a complaint with the Secretary of Labor; or ``(B) if the Secretary of Labor has not issued a final decision within 180 days of the filing of the complaint and there is no showing that such delay is due to the bad faith of the claimant, bringing an action at law or equity for de novo review in the appropriate district court of the United States, which shall have jurisdiction over such an action without regard to the amount in controversy. ``(2) Procedure.-- ``(A) In general.--A complaint filed with the Secretary of Labor under paragraph (1)(A) shall be governed under the rules and procedures set forth in section 42121(b) of title 49, United States Code. ``(B) Exception.--Notification made under section 42121(b)(1) of title 49, United States Code, shall be made to any individual named in the complaint and to the employer. ``(C) Burdens of proof.--An action brought under paragraph (1)(B) shall be governed by the legal burdens of proof set forth in section 42121(b) of title 49, United States Code. ``(D) Statute of limitations.--A complaint under paragraph (1)(A) shall be filed with the Secretary of Labor not later than 180 days after the date on which the violation of this section occurs. ``(E) Civil actions to enforce.--If a person fails to comply with an order or preliminary order issued by the Secretary of Labor pursuant to the procedures set forth in section 42121(b) of title 49, United States Code, the Secretary of Labor or the person on whose behalf the order was issued may bring a civil action to enforce the order in the district court of the United States for the judicial district in which the violation occurred. ``(c) Remedies.-- ``(1) In general.--A covered individual prevailing in any action under subsection (b)(1) shall be entitled to all relief necessary to make the covered individual whole. ``(2) Compensatory damages.--Relief for any action under paragraph (1) shall include-- ``(A) reinstatement with the same seniority status that the covered individual would have had, but for the discrimination; ``(B) the amount of back pay, with interest; and ``(C) compensation for any special damages sustained as a result of the discrimination including litigation costs, expert witness fees, and reasonable attorney's fees. ``(d) Rights Retained by Whistleblowers.--Nothing in this section shall be deemed to diminish the rights, privileges, or remedies of any covered individual under any Federal or State law, or under any collective bargaining agreement.''. (b) Whistleblower Reward.--The Antitrust Criminal Penalty Enhancement and Reform Act of 2004 (15 U.S.C. 1 note) is amended by inserting after section 216 (15 U.S.C. 7a-3) the following: ``SEC. 217. CRIMINAL ANTITRUST WHISTLEBLOWER INCENTIVES. ``(a) Definitions.--In this section the following definitions shall apply: ``(1) Antitrust laws.--The term `antitrust laws' means section 1 or 3 of the Sherman Act (15 U.S.C. 1 and 3). ``(2) Collected proceeds.--The term `collected proceeds' means any sanctions, fines, penalties, or awards obtained in any covered enforcement action, whether by judgment, settlement, or a deferred prosecution agreement. ``(3) Covered enforcement action.--The term `covered enforcement action' means any criminal action brought by the Attorney General under the antitrust laws that results in collected proceeds exceeding $1,000,000. ``(4) Original information.--The term `original information' means information that-- ``(A) is derived from the personal knowledge of a whistleblower; ``(B) is not known to the Attorney General or the Department of Justice from any other source, unless the whistleblower is the original source of the information; ``(C) is not exclusively derived from an allegation made in a judicial or administrative hearing, in a governmental report, hearing, audit, or investigation, or from the news media, unless the whistleblower is a source of the information; and ``(D) is not already required to be disclosed to the Department of Justice or another Federal agency. ``(5) Related action.--The term `related action', when used with respect to any covered enforcement action brought by the Attorney General, means any criminal action brought by another United States entity that is based upon the original information provided by a whistleblower that led to the successful enforcement action by the Attorney General. ``(6) Whistleblower.--The term `whistleblower' means any individual who provides information relating to a violation of the antitrust laws to the Department of Justice, in a manner established by the Department of Justice. ``(b) Awards.-- ``(1) In general.--In a covered enforcement action, or related action, the Attorney General, subject to subsection (c), may pay an award or awards to a whistleblower who voluntarily provided original information to the Department of Justice that led to the successful enforcement of the covered enforcement action, or related action, in an amount not less than 10 percent and not more than 30 percent, in total, of what has been collected of the criminal fine imposed in the covered enforcement action or related action under the antitrust laws; ``(2) Payment.--Any amount paid under paragraph (1) shall be paid from the criminal fine collected in the covered enforcement action. ``(c) Determination of Amount of Award; Denial of Award.-- ``(1) Determination of amount of award.-- ``(A) Discretion.--The determination of the amount of an award made under subsection (b) shall be in the discretion of the Attorney General. ``(B) Criteria.--In determining the amount of an award made under subsection (b), the Attorney General shall take into consideration-- ``(i) the significance of the information provided by the whistleblower to the success of the covered enforcement action; ``(ii) the degree of assistance and cooperation provided by the whistleblower in a covered enforcement action; ``(iii) the interest of the Department of Justice in deterring criminal violations of the antitrust laws by making awards to whistleblowers who provide information that leads to the successful covered enforcement actions; and ``(iv) such additional relevant factors as the Attorney General may establish. ``(2) Denial of award.--No award under subsection (b) shall be made-- ``(A) to any whistleblower who is, or was at the time the whistleblower who acquired the original information submitted to the Commission, a member, officer, or employee of-- ``(i) any branch, agency, or instrumentality of the Federal Government; or ``(ii) any law enforcement organization; ``(B) to any whistleblower who is convicted of a criminal violation related to the covered enforcement action for which the whistleblower otherwise could receive an award under this section; ``(C) to any whistleblower who was an originator or leader of or who coerced any other party to participate in the activity giving rise to liability under the antitrust laws in the covered enforcement action for which the whistleblower otherwise could receive an award under this section; ``(D) to any whistleblower who fails to respond to provide timely, truthful, continuing, and complete cooperation to the Department of Justice relating to the original information or intentionally withholds information relating to the original information; ``(E) to any whistleblower who commits, participates in, or attempts to commit or participate in any crimes after disclosing the original information to the Department of Justice; ``(F) to any whistleblower who fails to submit information to the Department of Justice in such form as the Department may require, or failed to report relevant information to the Department known to the whistleblower when the whistleblower first reported the information to the Department; ``(G) to any whistleblower who fails to submit information to the Department of Justice in such form as the Department may require as prescribed by regulation; ``(H) to any whistleblower who planned and initiated an obstruction or attempted obstruction of an investigation by the Department of Justice of a violation of the antitrust laws; or ``(I) to any whistleblower who engages in conduct that would disqualify the whistleblower if the whistleblower were a leniency applicant under the Leniency Program of the Antitrust Division. ``(d) Representation.--Any whistleblower who makes a claim for an award under subsection (b) may be represented by counsel. ``(e) Appeals.--Any determination made under this section, including whether, to whom, or in what amount to make awards, shall be in the discretion of the Attorney General. Any such determination, except the determination of the amount of an award if the award was made in accordance with subsection (b), may be appealed to the appropriate court of appeals of the United States not more than 30 days after the determination is issued by the Attorney General. The court shall review the determination made by the Attorney General in accordance with section 706 of title 5, United States Code.''. SEC. 16. PREJUDGMENT INTEREST. Section 4 of the Clayton Act (15 U.S.C. 15) is amended by striking subsection (a) and inserting the following: ``(a) Except as provided in subsection (b), any person who shall be injured in his business or property by reason of anything forbidden in the antitrust laws may sue therefor in any district court of the United States in the district in which the defendant resides or is found or has an agent, without respect to the amount in controversy, and shall recover threefold the damages by him sustained, the cost of suit, including a reasonable attorney's fee, and simple interest on threefold the damages by him sustained for the period beginning on the date of service of such person's pleading setting forth a claim under the antitrust laws and ending on the date of judgment.''. SEC. 17. NO FORCED ARBITRATION FOR ANTITRUST DISPUTES. (a) In General.--Title 9, United States Code, is amended by adding at the end the following: ``CHAPTER 5--ARBITRATION ANTITRUST DISPUTES ``Sec. 501. Definitions ``In this chapter-- ``(1) the term `antitrust dispute' means a dispute-- ``(A) arising from an alleged violation of the antitrust laws (as defined in subsection (a) of the first section of the Clayton Act (15 U.S.C. 12(a))) or State antitrust laws; and ``(B) in which the plaintiffs seek certification as a class under rule 23 of the Federal Rules of Civil Procedure or a comparable rule or provision of State law; ``(2) the term `predispute arbitration agreement' means an agreement to arbitrate a dispute that has not yet arisen at the time of the making of the agreement; and ``(3) the term `predispute joint-action waiver' means an agreement, whether or not part of a predispute arbitration agreement, that would prohibit, or waive the right of, one of the parties to the agreement to participate in a joint, class, or collective action in a judicial, arbitral, administrative, or other forum, concerning a dispute that has not yet arisen at the time of the making of the agreement. ``Sec. 502. No validity or enforceability ``(a) In General.--Notwithstanding any other provision of this title, no predispute arbitration agreement or predispute joint-action waiver shall be valid or enforceable with respect to an antitrust dispute. ``(b) Applicability.--An issue as to whether this chapter applies with respect to a dispute shall be determined under Federal law. The applicability of this chapter to an agreement to arbitrate and the validity and enforceability of an agreement to which this chapter applies shall be determined by a court, rather than an arbitrator, irrespective of whether the party resisting arbitration challenges the arbitration agreement specifically or in conjunction with other terms of the contract containing such agreement, and irrespective of whether the agreement purports to delegate such determinations to an arbitrator.''. (b) Technical and Conforming Amendments.-- (1) In general.--Title 9 of the United States Code is amended-- (A) in section 2, by inserting ``or 5'' before the period at the end; (B) in section 208, by inserting ``or 5'' before the period at the end; and (C) in section 307, by inserting ``or 5'' before the period at the end. (2) Table of chapters.--The table of chapters for title 9, United States Code, is amended by adding at the end the following: ``5. Arbitration of antitrust disputes...................... 501''. SEC. 18. ADDITIONAL REMEDIES; RULES OF CONSTRUCTION. (a) Additional Remedies.--The rights and remedies provided under this Act are in addition to, not in lieu of, any other rights and remedies provided by Federal law, including under section 4, 4A, 15, or 16 of the Clayton Act (15 U.S.C. 15, 15a, 25, 26) or section 13(b) of the Federal Trade Commission Act (15 U.S.C. 53(b)). (b) Rules of Construction.--Nothing in this Act may be construed to-- (1) impair or limit the applicability of any of the antitrust laws; and (2) prohibit any other remedy provided by Federal law. SEC. 19. AUTHORIZATION OF APPROPRIATIONS. (a) Fiscal Year 2025.--There is authorized to be appropriated for fiscal year 2025-- (1) $535,000,000 for the Antitrust Division of the Department of Justice; and (2) $725,000,000 for the Federal Trade Commission. (b) Subsequent Years.--Beginning in fiscal year 2026, and each fiscal year thereafter, all premerger notification filing fees collected pursuant to section 7A of the Clayton Act (15 U.S.C. 18a) shall-- (1) be retained and used for expenses necessary for the enforcement of antitrust and kindred laws by the Antitrust Division of the Department of Justice and the Federal Trade Commission, to remain available until expended; and (2) shall be treated as direct spending described in section 250(c)(8)(A) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900(c)(8)(A)). <all>

usgpo

2024-06-24T00:12:26.096541

BILLS-118sres687is

Expressing the sense of the Senate regarding United Nations General Assembly Resolution 2758 (XXVI) and the harmful conflation of China’s One China Principle and the United States One China Policy.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 687 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. RES. 687 Expressing the sense of the Senate regarding United Nations General Assembly Resolution 2758 (XXVI) and the harmful conflation of China's ``One China Principle'' and the United States ``One China Policy''. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 15, 2024 Mr. Risch (for himself and Mrs. Shaheen) submitted the following resolution; which was referred to the Committee on Foreign Relations _______________________________________________________________________ RESOLUTION Expressing the sense of the Senate regarding United Nations General Assembly Resolution 2758 (XXVI) and the harmful conflation of China's ``One China Principle'' and the United States ``One China Policy''. Whereas, on October 25, 1971, United Nations General Assembly passed resolution 2758, which recognizes the Government of the People's Republic of China (referred to in this preamble as the ``PRC'') as the representative of the member state ``China'' in the United Nations; Whereas the purpose of resolution 2758 was to address the question of which government would represent the ``China'' seat at the United Nations, and not to address any other issues, including issues related to Taiwan's ultimate political status; Whereas the PRC has recently linked resolution 2758 with its ``One China Principle'' and has claimed that resolution 2758 addresses the matter of Taiwan's sovereignty; Whereas the ``One China Principle'' is a policy held by the Chinese Communist Party that-- (1) the PRC is the sole sovereign nation using the name ``China''; and (2) Taiwan is an inalienable part of China; Whereas resolution 2758 did not endorse and is not equivalent to the ``One China Principle'' and countries that supported resolution 2758 do not necessarily accept the ``One China Principle''; Whereas resolution 2758 does not represent an international consensus regarding the PRC's stance that Taiwan is part of China; Whereas PRC officials misrepresent resolution 2758 by claiming the adoption of resolution 2758 implies acceptance of the ``One China Principle'' and the PRC's claims to Taiwan; Whereas the PRC misleadingly claims that countries with a ``one China policy'' have accepted and abide by the PRC's ``One China Principle''; Whereas Daniel Kritenbrink, Assistant Secretary of State, Bureau of East Asia and Pacific Affairs, testified before the Committee on Foreign Relations of the Senate in 2024 that the PRC ``misused and misinterpreted'' resolution 2758 to influence countries to change their diplomatic recognition to the PRC; Whereas the ``one China policy'' of the United States acknowledges the PRC's ``One China Principle'', but affirms that-- (1) the United States does not take a position on Taiwan's status; and (2) this issue should be resolved peacefully by the people on both sides of the Taiwan Strait; Whereas, in 1982, during the administration of President Ronald Reagan, the United States conveyed Six Assurances to Taiwan's President Chiang Ching-kuo, including that the United States had not changed its stance on Taiwan's sovereignty, and each subsequent United States presidential administration has reaffirmed these Six Assurances; Whereas Taiwan has established representative offices in more than 60 countries and at the European Union and the World Trade Organization, which disproves the PRC's claim of a unified United Nations position or international consensus on Taiwan's status; Whereas the PRC has weaponized resolution 2758 and the ``One China Principle'' to isolate Taiwan and to prevent its meaningful participation at the United Nations, United Nations-affiliated agencies, and other international fora, including at the World Health Organization, the International Civil Aviation Organization, and Interpol; Whereas the PRC has bolstered its claims and engaged in revisionist history by successfully altering historic United Nations documents to changes references to ``Taiwan'' to ``Taiwan, Province of China''; Whereas, in 2005, the Secretary of the World Health Organization signed a memorandum of understanding with the PRC Ministry of Health regarding how the World Health Organization would engage with Taiwan, which included a requirement that communication with Taiwan go through the PRC; Whereas United Nations General Secretary Ban Ki-Moon cited resolution 2758 when refusing Taiwan's accession to the United Nations in 2007, based on the incorrect assertion that resolution 2758 supports China's claim that Taiwan is part of China; Whereas the United Nations has used resolution 2758 as a justification for requiring Taiwanese citizens, including those with official invitations to attend United Nations events, journalists, and representatives of nongovernmental organizations, to obtain PRC-issued Taiwan Compatriot Permits in addition to their passport or a PRC passport to gain entry to United Nations facilities; Whereas Secretary of State Antony Blinken released a statement in 2021, which identified the United Nations' exclusion of Taiwanese civil society members and emphasized that denying entry to such individuals undermines the work of the United Nations; Whereas, in 2022, Robert O'Brien, former United States National Security Advisor, stated that-- (1) the PRC manipulates resolution 2758 to make false claims regarding Taiwan's status in order ``to undermine the international order and the international system''; and (2) resolution 2758 ``relates solely to the occupancy of the China seat at the United Nations and nothing more''; Whereas, in August 2023, the Central American Parliament (also known as ``PARLACEN'') expelled Taiwan, after more than 20 years as a permanent observer, from holding such status at its sessions and falsely claimed that resolution 2758 deemed Taiwan a ``province of mainland China, which disqualifies it from participating as an Independent country''; Whereas, since 2016, the PRC has successfully induced or pressured 10 nations: Sao Tome and Principe, Panama, the Dominican Republic, El Salvador, Burkina Faso, Kiribati, Solomon Islands, Nicaragua, Honduras, and Nauru, to cut diplomatic ties with Taiwan; and Whereas the PRC cites resolution 2758 as a justification to coerce, intimidate, or punish sovereign nations for engagement and partnership with Taiwan: Now, therefore, be it Resolved, That the Senate-- (1) reaffirms that the longstanding ``one China policy'' of the United States does not affirmatively recognize the People's Republic of China's claim to control over Taiwan and its outlying islands, but rather ``acknowledges'' this position, reaffirms the interest of the United States in a peaceful resolution of cross-Strait issues, ``has not agreed to take any position regarding sovereignty over Taiwan'', and ``will not exert pressure on Taiwan to enter into negotiations with the PRC''; (2) reaffirms that the ``one China policy'' of the United States and the similar policies of its partners are not equivalent to the ``One China Principle'' of the Chinese Communist Party; (3) emphasizes that United Nations General Assembly resolution 2758 is not equivalent to, and does not endorse, the PRC's ``One China Principle''; (4) emphasizes further that resolution 2758 does not take a position on Taiwan's ultimate political status, as explicitly recognized by PRC leaders at the time, and does not represent a United Nations consensus on Taiwan's status; (5) opposes China's use of the ``One China Principle'' to coerce the United States, Taiwan, and other countries to accept its claims over Taiwan; (6) supports Taiwan's diplomatic allies in continuing official relationships with Taiwan, and other nations across the world in strengthening their partnership with Taiwan; (7) reaffirms support for Taiwan's membership in international organizations for which statehood is not a requirement for membership and encourages meaningful participation for Taiwan in organizations in which its membership is not possible; (8) encourages the United States Government to work with partners on joint efforts to counter China's false narratives about resolution 2758; and (9) supports the efforts of other countries to differentiate between their policies and the ``One China Principle'' to counter China's propaganda about international views of Taiwan. <all>

usgpo

2024-06-24T00:12:26.260483

BILLS-118hr6543rfs

No Hidden Fees on Extra Expenses for Stays Act of 2023; No Hidden FEES Act of 2023

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 6543 Referred in Senate (RFS)] <DOC> 118th CONGRESS 2d Session H. R. 6543 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Received; read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ AN ACT To prohibit unfair and deceptive advertising of prices for hotel rooms and other places of short-term lodging, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``No Hidden Fees on Extra Expenses for Stays Act of 2023'' or the ``No Hidden FEES Act of 2023''. SEC. 2. PROHIBITION ON UNFAIR AND DECEPTIVE ADVERTISING OF HOTEL ROOM AND OTHER SHORT-TERM LODGING PRICES. (a) In General.--A covered provider may not advertise, display, market, or otherwise offer for sale in interstate commerce, including through a direct offering, third-party distribution, or metasearch referral, a price of a reservation for a place of short-term lodging that does not include each mandatory fee. (b) Exclusion.--Subsection (a) does not prohibit a covered provider from displaying any individual component, including any fee or tax, that is part of the total price, if such total price is clearly and conspicuously disclosed to the consumer. SEC. 3. ENFORCEMENT. (a) Enforcement by Federal Trade Commission.-- (1) Unfair or deceptive acts or practices.--A violation of section 2(a) shall be treated as a violation of a regulation under section 18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)) regarding unfair or deceptive acts or practices. (2) Powers of commission.--The Commission shall enforce section 2(a) in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act (15 U.S.C. 41 et seq.) were incorporated into and made a part of this Act. Any covered provider who violates section 2(a) shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act. (3) Authority preserved.--Nothing in this Act may be construed to limit the authority of the Commission under any other provision of law. (b) Enforcement by States.-- (1) In general.--If the attorney general of a State, or an official or agency of a State, has reason to believe that an interest of the residents of the State has been or is being threatened or adversely affected by a practice that violates section 2(a), the State may bring a civil action on behalf of the residents of the State in an appropriate district court of the United States to obtain appropriate relief. (2) Rights of commission.-- (A) Notice to commission.-- (i) In general.--Except as provided in clause (iii), an attorney general, official, or agency of a State, before initiating a civil action under paragraph (1), shall provide written notification to the Commission that the attorney general, official, or agency intends to bring such civil action. (ii) Contents.--The notification required under clause (i) shall include a copy of the complaint to be filed to initiate the civil action. (iii) Exception.--If it is not feasible for an attorney general, official, or agency of a State to provide the notification required under clause (i) before initiating a civil action under paragraph (1), the attorney general, official, or agency shall notify the Commission immediately upon instituting the civil action. (B) Intervention by commission.--The Commission may-- (i) intervene in any civil action brought by an attorney general, official, or agency of a State under paragraph (1); and (ii) upon intervening-- (I) be heard on all matters arising in the civil action; and (II) appeal a decision in the civil action. (C) Limitation on state action while federal action is pending.--If the Commission or the Attorney General of the United States has instituted a civil action for violation of section 2(a) (referred to in this subparagraph as the ``Federal action''), no State attorney general, official, or agency may bring an action under paragraph (1) during the pendency of the Federal action against any defendant named in the complaint in the Federal action for any violation of such section alleged in such complaint. (3) Rule of construction.--Nothing in this subsection may be construed to prevent an attorney general, official, or agency of a State from exercising the powers conferred on the attorney general, official, or agency by the laws of the State to conduct investigations, to administer oaths or affirmations, or to compel the attendance of witnesses or the production of documentary or other evidence. SEC. 4. ONE NATIONAL STANDARD. (a) In General.--A State, or political subdivision of a State, may not maintain, enforce, prescribe, or continue in effect any law, rule, regulation, requirement, standard, or other provision having the force and effect of law of the State, or political subdivision of the State, that prohibits a covered provider from advertising, displaying, marketing, or otherwise offering, or otherwise affects the manner in which a covered provider may advertise, display, market, or otherwise offer, for sale in interstate commerce, including through a direct offering, third-party distribution, or metasearch referral, a price of a reservation for a place of short-term lodging that does not include each mandatory fee. (b) Rule of Construction.--This section may not be construed to-- (1) preempt any law of a State or political subdivision of a State relating to contracts or torts; or (2) preempt any law of a State or political subdivision of a State to the extent that such law relates to an act of fraud, unauthorized access to personal information, or notification of unauthorized access to personal information. SEC. 5. DEFINITIONS. In this Act: (1) Commission.--The term ``Commission'' means the Federal Trade Commission. (2) Corporate, government, or institutional travel management program.--The term ``corporate, government, or institutional travel management program'' means-- (A) a program used by a company, government entity, or not-for-profit institution for the travel of the officers, directors, or employees of such company, government entity, or not-for-profit institution; or (B) a program purchased by a company, government entity, or not-for-profit institution and used for the travel of the officers, directors, or employees of such company, government entity, or not-for-profit institution. (3) Covered provider.-- (A) In general.--The term ``covered provider'' means a provider of a place of short-term lodging, a provider of an internet website or other centralized platform, or any other entity who advertises, displays, markets, or otherwise offers a price of a reservation for a place of short-term lodging. (B) Exclusion.--The term ``covered provider'' does not include any entity who advertises, displays, markets, or otherwise offers a price of a reservation for a place of short-term lodging for purchase pursuant to a corporate, government, or institutional travel management program. (4) Mandatory fee.--The term ``mandatory fee''-- (A) means each mandatory fee required to complete the booking or stay that is assessed by the covered provider and paid directly by the consumer; and (B) does not include any tax or fee imposed on the consumer by a governmental or quasi-governmental entity or assessment fees of a government-created special district or program. (5) Place of short-term lodging.--The term ``place of short-term lodging'' means a hotel, motel, inn, short-term rental, or other place of lodging that advertises at a price that is a nightly, hourly, or weekly rate. (6) State.--The term ``State'' means each of the several States, the District of Columbia, and each territory or possession of the United States. SEC. 6. APPLICATION TO PRIOR BOOKINGS. Section 2(a) shall apply only to a reservation for a place of short-term lodging made on or after the effective date of this Act. SEC. 7. EFFECTIVE DATE. This Act shall take effect on the date that is 1 year after the date of the enactment of this Act. Passed the House of Representatives June 11, 2024. Attest: KEVIN F. MCCUMBER, Clerk.

usgpo

2024-06-24T00:12:26.884617

BILLS-118hr8335ih

Billion Dollar Boondoggle Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8335 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8335 To require the Director of the Office of Management and Budget to submit to Congress an annual report on projects that are over budget and behind schedule, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 10, 2024 Mrs. Miller-Meeks introduced the following bill; which was referred to the Committee on Oversight and Accountability, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To require the Director of the Office of Management and Budget to submit to Congress an annual report on projects that are over budget and behind schedule, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Billion Dollar Boondoggle Act of 2024''. SEC. 2. ANNUAL REPORT. (a) Definitions.--In this section-- (1) the term ``covered agency'' means-- (A) an Executive agency, as defined in section 105 of title 5, United States Code; and (B) an independent regulatory agency, as defined in section 3502 of title 44, United States Code; (2) the term ``covered project'' means a project funded by a covered agency-- (A) that is more than 5 years behind schedule, as measured against the original expected date for completion; or (B) for which the amount spent on the project is not less than $1,000,000,000 more than the original cost estimate for the project; and (3) the term ``project'' means a major acquisition, a major defense acquisition program (as defined in section 4201 of title 10, United States Code), a procurement, a construction project, a remediation or clean-up effort, or any other time- limited endeavor, that is not funded through direct spending (as defined in section 250(c) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 900(c))). (b) Requirement.--Not later than 1 year after the date of enactment of this Act, the Director of the Office of Management and Budget shall issue guidance requiring covered agencies to include, on an annual basis in a report described in paragraph (2) of section 3516(a) of title 31, United States Code, or a consolidated report described in paragraph (1) of such section, information relating to each covered project of the covered agency, which shall include-- (1) a brief description of the covered project, including-- (A) the purpose of the covered project; (B) each location in which the covered project is carried out; (C) the contract or award number of the covered project, where applicable; (D) the year in which the covered project was initiated; (E) the Federal share of the total cost of the covered project; and (F) each primary contractor, subcontractor, grant recipient, and subgrantee recipient of the covered project; (2) an explanation of any change to the original scope of the covered project, including by the addition or narrowing of the initial requirements of the covered project; (3) the original expected date for completion of the covered project; (4) the current expected date for completion of the covered project; (5) the original cost estimate for the covered project, as adjusted to reflect increases in the Consumer Price Index for All Urban Consumers, as published by the Bureau of Labor Statistics; (6) the current cost estimate for the covered project, as adjusted to reflect increases in the Consumer Price Index for All Urban Consumers, as published by the Bureau of Labor Statistics; (7) an explanation for a delay in completion or an increase in the original cost estimate for the covered project, including, where applicable, any impact of insufficient or delayed appropriations; and (8) the amount of and rationale for any award, incentive fee, or other type of bonus, if any, awarded for the covered project. <all>

usgpo

2024-06-24T00:12:26.959880

BILLS-118hr7988rfs

Small Business Procurement and Utilization Reform Act of 2024; SPUR Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 7988 Referred in Senate (RFS)] <DOC> 118th CONGRESS 2d Session H. R. 7988 _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Received; read twice and referred to the Committee on Small Business and Entrepreneurship _______________________________________________________________________ AN ACT To amend the Small Business Act to include requirements relating to new small business entrants in the scorecard program, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Small Business Procurement and Utilization Reform Act of 2024'' or the ``SPUR Act''. SEC. 2. MODIFICATIONS TO SCORECARD REQUIREMENTS. Section 15(y) of the Small Business Act (15 U.S.C. 644(y)) is amended-- (1) in paragraph (2)-- (A) by redesignating subparagraph (E) as subparagraph (F); and (B) by inserting after subparagraph (D) the following new subparagraph: ``(E) The number of new small business entrants, including new small business entrants that are small business concerns owned and controlled by service- disabled veterans, qualified HUBZone small business concerns, small business concerns owned and controlled by socially and economically disadvantaged individuals, and small business concerns owned and controlled by women awarded prime contracts in each North American Industry Classification System code during the fiscal year, and a comparison to the number awarded prime contracts during the prior fiscal year, if available.''; (2) in paragraph (3), by striking ``subparagraphs (B) through (E) of paragraph (2)'' and inserting ``subparagraphs (B) through (F) of paragraph (2)''; and (3) by amending paragraph (6) to read as follows: ``(6) Definitions.--In this subsection: ``(A) New small business entrant.--The term `new small business entrant' means a small business concern that-- ``(i) has been awarded a prime contract; and ``(ii) has not previously been awarded a prime contract by the Federal Government. ``(B) Scorecard.--The term `scorecard' means any summary using a rating system to evaluate the efforts of a Federal agency to meet goals established under subsection (g)(1)(B) that-- ``(i) includes the measures described in paragraph (2); and ``(ii) assigns a score to each Federal agency evaluated.''. SEC. 3. COMPLIANCE WITH CUTGO. No additional amounts are authorized to be appropriated to carry out this Act or the amendments made by this Act. Passed the House of Representatives June 11, 2024. Attest: KEVIN F. MCCUMBER, Clerk.

usgpo

2024-06-24T00:12:27.181486

BILLS-118hr8334ih

Grant Integrity and Border Security Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8334 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8334 To require any applicant for a Federal grant to submit a certification that such applicant is not in violation of section 274(a) of the Immigration and Nationality Act, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 10, 2024 Ms. Foxx (for herself and Mr. Tiffany) introduced the following bill; which was referred to the Committee on Oversight and Accountability _______________________________________________________________________ A BILL To require any applicant for a Federal grant to submit a certification that such applicant is not in violation of section 274(a) of the Immigration and Nationality Act, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Grant Integrity and Border Security Act''. SEC. 2. FEDERAL GRANT REQUIREMENT RELATED TO THE BRINGING IN AND HARBORING OF CERTAIN ALIENS. (a) Requirement.--The head of each agency shall require that any applicant for a Federal grant submit a certification that such applicant has not violated in the previous 10 years, is not in violation of, and will not violate during the term of the grant section 274(a) of the Immigration and Nationality Act (8 U.S.C. 1324(a)). (b) Authority To Withhold Funds.--The head of the relevant agency shall withhold any funds from a grantee determined by the head of an agency to be in violation of this section for a Federal grant. Such determination may be made based on the following: (1) Any information provided by the Secretary of Homeland Security and the Director to the head of the agency. (2) Any employee or former employee of the recipient of a Federal grant who is convicted of or admits to having committed a violation of section 274(a) of the Immigration and Nationality Act (8 U.S.C. 1324(a)) while performing official duties for that grantee. (3) Any other credible information received by the head of the agency. (c) Information on Conviction.--Not later than 90 days after the date of conviction, admission to a violation, or completion of an investigation under section 274(a) of the Immigration and Nationality Act (8 U.S.C. 1324(a)), the Attorney General shall submit to the Director information relating to any individual who was convicted or admitted to a violation under such section, or regarding whom the Attorney General otherwise believes there to be a reasonable basis to conclude that a violation of such section occurred. (d) Definitions.--In this section: (1) Agency.--The term ``agency'' has the meaning given that term in section 551 of title 5, United States Code. (2) Director.--The term ``Director'' means the Director of the Office of Management and Budget. (3) Federal grant.--The term ``Federal grant'' has the meaning given the term ``Federal award'' in section 6401 of title 31, United States Code. <all>

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2024-06-24T00:12:27.355419

BILLS-118hres1302ih

Providing for consideration of the bill (H.R. 396) to regulate bump stocks in the same manner as machineguns.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1302 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1302 Providing for consideration of the bill (H.R. 396) to regulate bump stocks in the same manner as machineguns. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 14, 2024 Ms. Titus submitted the following resolution; which was referred to the Committee on Rules _______________________________________________________________________ RESOLUTION Providing for consideration of the bill (H.R. 396) to regulate bump stocks in the same manner as machineguns. Resolved, That immediately upon adoption of this resolution, the House shall proceed to the consideration in the House of the bill (H.R. 396) to regulate bump stocks in the same manner as machineguns. All points of order against consideration of the bill are waived. The bill shall be considered as read. All points of order against provisions in the bill are waived. The previous question shall be considered as ordered on the bill and on any amendment thereto to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Ways and Means or their respective designees; and (2) one motion to recommit. Sec. 2. Clause 1(c) of rule XIX shall not apply to the consideration of H.R. 396. <all>

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2024-06-24T00:12:27.409359

BILLS-118hr8771rh

Department of State, Foreign Operations, and Related Programs Appropriations Act, 2025

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8771 Reported in House (RH)] <DOC> Union Calendar No. 457 118th CONGRESS 2d Session H. R. 8771 [Report No. 118-554] Making appropriations for the Department of State, foreign operations, and related programs for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 14, 2024 Mr. Diaz-Balart, from the Committee on Appropriations, reported the following bill; which was committed to the Committee of the Whole House on the State of the Union and ordered to be printed _______________________________________________________________________ A BILL Making appropriations for the Department of State, foreign operations, and related programs for the fiscal year ending September 30, 2025, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the following sums are appropriated, out of any money in the Treasury not otherwise appropriated, for the Department of State, foreign operations, and related programs for the fiscal year ending September 30, 2025, and for other purposes, namely: TITLE I DEPARTMENT OF STATE AND RELATED AGENCY DEPARTMENT OF STATE Administration of Foreign Affairs diplomatic programs For necessary expenses of the Department of State and the Foreign Service not otherwise provided for, including for training, human resources management, and salaries, including employment without regard to civil service and classification laws of persons on a temporary basis (not to exceed $700,000), as authorized by section 801 of the United States Information and Educational Exchange Act of 1948 (62 Stat. 11; Chapter 36); for the regional bureaus of the Department of State and overseas activities as authorized by law; for the functional bureaus of the Department of State, including representation to certain international organizations in which the United States participates pursuant to treaties ratified pursuant to the advice and consent of the Senate or specific Acts of Congress, general administration, and arms control, nonproliferation, and disarmament activities as authorized; and for security activities, $8,406,887,000, of which $671,726,000 may remain available until September 30, 2026, and of which $3,928,712,000 is for Worldwide Security Protection, which may remain available until expended, and of which up to $818,168,000 is for Diplomatic Policy and Support. consular and border security programs Of the amounts deposited in the Consular and Border Security Programs account in this or any prior fiscal year pursuant to section 7069(e) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2022 (division K of Public Law 117-103), $491,000,000 shall be available until expended for the purposes of such account, including to reduce passport backlogs and reduce visa wait times: Provided, That the Secretary of State may by regulation authorize State officials or the United States Postal Service to collect and retain the execution fee for each application for a passport accepted by such officials or by that Service. capital investment fund For necessary expenses of the Capital Investment Fund, as authorized, $389,000,000, to remain available until expended. office of inspector general For necessary expenses of the Office of Inspector General, $137,800,000, of which $28,650,000 may remain available until September 30, 2026, and of which $26,800,000 may remain available until September 30, 2026 for the Special Inspector General for Afghanistan Reconstruction (SIGAR): Provided, That funds appropriated under this heading are made available notwithstanding section 209(a)(1) of the Foreign Service Act of 1980 (22 U.S.C. 3929(a)(1)), as it relates to post inspections: Provided further, That funds appropriated under this heading that are made available for the printing and reproduction costs of SIGAR shall not exceed amounts for such costs during the prior fiscal year. educational and cultural exchange programs For necessary expenses of educational and cultural exchange programs, as authorized, $720,946,000, to remain available until expended, of which not less than $287,800,000 shall be for the Fulbright Program: Provided, That fees or other payments received from, or in connection with, English teaching, educational advising and counseling programs, and exchange visitor programs as authorized may be credited to this account, to remain available until expended: Provided further, That any substantive modifications from the prior fiscal year to programs funded under this heading in this Act shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. representation expenses For representation expenses as authorized, $7,415,000. protection of foreign missions and officials For necessary expenses, not otherwise provided, to enable the Secretary of State to provide for extraordinary protective services, as authorized, $30,890,000, to remain available until September 30, 2026. embassy security, construction, and maintenance For necessary expenses for carrying out the Foreign Service Buildings Act of 1926 (22 U.S.C. 292 et seq.), preserving, maintaining, repairing, and planning for real property that are owned or leased by the Department of State, and renovating, in addition to funds otherwise available, the Harry S Truman Building, $945,210,000, to remain available until September 30, 2029, of which not to exceed $25,000 may be used for overseas representation expenses as authorized: Provided, That none of the funds appropriated in this paragraph shall be available for acquisition of furniture, furnishings, or generators for other departments and agencies of the United States Government. In addition, for the costs of worldwide security upgrades, acquisition, and construction as authorized, $1,012,611,000, to remain available until expended. emergencies in the diplomatic and consular service For necessary expenses to enable the Secretary of State to meet unforeseen emergencies arising in the Diplomatic and Consular Service, as authorized, $8,885,000, to remain available until expended, of which not to exceed $1,000,000 may be transferred to, and merged with, funds appropriated by this Act under the heading ``Repatriation Loans Program Account''. repatriation loans program account For the cost of direct loans, $1,800,000, as authorized: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That such funds are available to subsidize gross obligations for the principal amount of direct loans not to exceed $5,823,626. payment to the american institute in taiwan For necessary expenses to carry out the Taiwan Relations Act (Public Law 96-8), $38,218,000. international center, washington, district of columbia Not to exceed $1,879,587 shall be derived from fees collected from other executive agencies for lease or use of facilities at the International Center in accordance with section 4 of the International Center Act (Public Law 90-553), and, in addition, as authorized by section 5 of such Act, $745,000, to be derived from the reserve authorized by such section, to be used for the purposes set out in that section. payment to the foreign service retirement and disability fund For payment to the Foreign Service Retirement and Disability Fund, as authorized, $60,000,000. International Organizations contributions to international organizations For necessary expenses, not otherwise provided for, to meet annual obligations of membership in international multilateral organizations, pursuant to treaties ratified pursuant to the advice and consent of the Senate, conventions, or specific Acts of Congress, $269,614,000: Provided, That the Secretary of State shall, at the time of the submission of the President's budget to Congress under section 1105(a) of title 31, United States Code, transmit to the Committees on Appropriations the most recent biennial budget prepared by the United Nations for the operations of the United Nations: Provided further, That the Secretary of State shall notify the Committees on Appropriations at least 15 days in advance (or in an emergency, as far in advance as is practicable) of any United Nations action to increase funding for any United Nations program without identifying an offsetting decrease elsewhere in the United Nations budget: Provided further, That any payment of arrearages under this heading shall be directed to activities that are mutually agreed upon by the United States and the respective international organization and shall be subject to the regular notification procedures of the Committees on Appropriations: Provided further, That none of the funds appropriated under this heading shall be available for a United States contribution to an international organization for the United States share of interest costs made known to the United States Government by such organization for loans incurred on or after October 1, 1984, through external borrowings. contributions for international peacekeeping activities For necessary expenses to pay assessed and other expenses of international peacekeeping activities directed to the maintenance or restoration of international peace and security, $1,068,900,000, of which $534,450,000 may remain available until September 30, 2026: Provided, That none of the funds made available by this Act shall be obligated or expended for any new or expanded United Nations peacekeeping mission unless, at least 15 days in advance of voting for such mission in the United Nations Security Council (or in an emergency as far in advance as is practicable), the Committees on Appropriations are notified of: (1) the estimated cost and duration of the mission, the objectives of the mission, the national interest that will be served, and the exit strategy; and (2) the sources of funds, including any reprogrammings or transfers, that will be used to pay the cost of the new or expanded mission, and the estimated cost in future fiscal years: Provided further, That none of the funds appropriated under this heading may be made available for obligation unless the Secretary of State certifies and reports to the Committees on Appropriations on a peacekeeping mission-by-mission basis that the United Nations is implementing effective policies and procedures to prevent United Nations employees, contractor personnel, and peacekeeping troops serving in such mission from trafficking in persons, exploiting victims of trafficking, or committing acts of sexual exploitation and abuse or other violations of human rights, and to hold accountable individuals who engage in such acts while participating in such mission, including prosecution in their home countries and making information about such prosecutions publicly available on the website of the United Nations: Provided further, That the Secretary of State shall work with the United Nations and foreign governments contributing peacekeeping troops to implement effective vetting procedures to ensure that such troops have not violated human rights: Provided further, That funds shall be available for peacekeeping expenses unless the Secretary of State determines that United States manufacturers and suppliers are not being given opportunities to provide equipment, services, and material for United Nations peacekeeping activities equal to those being given to foreign manufacturers and suppliers: Provided further, That none of the funds appropriated or otherwise made available under this heading may be used for any United Nations peacekeeping mission that will involve United States Armed Forces under the command or operational control of a foreign national, unless the President's military advisors have submitted to the President a recommendation that such involvement is in the national interest of the United States and the President has submitted to Congress such a recommendation: Provided further, That any payment of arrearages with funds appropriated by this Act shall be subject to the regular notification procedures of the Committees on Appropriations: Provided further, That the Secretary of State shall work with the United Nations and members of the United Nations Security Council to evaluate and prioritize peacekeeping missions, and to consider a draw down when mission goals have been substantially achieved. International Commissions For necessary expenses, not otherwise provided for, to meet obligations of the United States arising under treaties, or specific Acts of Congress, as follows: international boundary and water commission, united states and mexico For necessary expenses for the United States Section of the International Boundary and Water Commission, United States and Mexico, and to comply with laws applicable to the United States Section, including not to exceed $6,000 for representation expenses, as follows: salaries and expenses For salaries and expenses, not otherwise provided for, $81,800,000, of which $12,270,000 may remain available until September 30, 2026. construction For detailed plan preparation and construction of authorized projects, $168,550,000, to remain available until expended, as authorized: Provided, That of the funds appropriated under this heading in this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs for the United States Section, up to $5,000,000 may be transferred to, and merged with, funds appropriated under the heading ``Salaries and Expenses'' to carry out the purposes of the United States Section, which shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations: Provided further, That such transfer authority is in addition to any other transfer authority provided in this Act. american sections, international commissions For necessary expenses, not otherwise provided, for the International Joint Commission and the International Boundary Commission, United States and Canada, as authorized by treaties between the United States and Canada or Great Britain, and for grant programs of the North American Development Bank, including technical assistance grants and the Community Assistance Program, $17,300,000: Provided, That of the amount provided under this heading for the International Joint Commission, up to $1,250,000 may remain available until September 30, 2026, and up to $9,000 may be made available for representation expenses: Provided further, That of the amount provided under this heading for the International Boundary Commission, up to $1,000 may be made available for representation expenses. international fisheries commissions For necessary expenses for international fisheries commissions, not otherwise provided for, as authorized by law, $65,719,000: Provided, That the United States share of such expenses may be advanced to the respective commissions pursuant to section 3324 of title 31, United States Code. RELATED AGENCY United States Agency for Global Media international broadcasting operations For necessary expenses to enable the United States Agency for Global Media (USAGM), as authorized, to carry out international communication activities, and to make and supervise grants for radio, Internet, and television broadcasting to the Middle East, $798,196,000, of which $39,910,000 may remain available until September 30, 2026: Provided, That of the funds appropriated under this heading, not less than $35,000,000 shall be made available for the Office of Cuba Broadcasting (OCB): Provided further, That funds made available pursuant to the previous proviso shall be made available for medium- and short-wave broadcasting at not less than the fiscal year 2024 level and in a manner able to reach all provinces in Cuba with daily programming: Provided further, That in addition to amounts otherwise available for such purposes, up to $75,708,000 of the amount appropriated under this heading may remain available until expended for satellite transmissions, global network distribution, and Internet freedom programs, of which not less than $43,500,000 shall be for Internet freedom programs: Provided further, That of the funds appropriated under this heading and made available for the Open Technology Fund, not less than $5,000,000 shall be made available for grants for innovative methods to reach audiences inside of Cuba: Provided further, That such funds are in addition to amounts otherwise made available for such purposes: Provided further, That of the funds appropriated under this heading and made available for USAGM networks, not less than $5,000,000 shall be made available for programming produced about Cuba by OCB, which are in addition to funds otherwise made available for OCB: Provided further, That of the total amount appropriated under this heading, not to exceed $35,000 may be used for representation expenses, of which $10,000 may be used for such expenses within the United States as authorized, and not to exceed $30,000 may be used for representation expenses of Radio Free Europe/Radio Liberty: Provided further, That funds appropriated under this heading shall be made available in accordance with the principles and standards set forth in section 303(a) and (b) of the United States International Broadcasting Act of 1994 (22 U.S.C. 6202) and section 305(b) of such Act (22 U.S.C. 6204): Provided further, That the USAGM Chief Executive Officer shall notify the Committees on Appropriations within 15 days of any determination by the USAGM that any of its broadcast entities, including its grantee organizations, provides an open platform for international terrorists or those who support international terrorism, or is in violation of the principles and standards set forth in section 303(a) and (b) of such Act or the entity's journalistic code of ethics: Provided further, That in addition to funds made available under this heading, and notwithstanding any other provision of law, up to $5,000,000 in receipts from advertising and revenue from business ventures, up to $500,000 in receipts from cooperating international organizations, and up to $1,000,000 in receipts from privatization efforts of the Voice of America and the International Broadcasting Bureau, shall remain available until expended for carrying out authorized purposes: Provided further, That significant modifications to USAGM broadcast hours previously justified to Congress, including changes to transmission platforms (shortwave, medium wave, satellite, Internet, and television), for all USAGM language services shall be subject to the regular notification procedures of the Committees on Appropriations. broadcasting capital improvements For the purchase, rent, construction, repair, preservation, and improvement of facilities for radio, television, and digital transmission and reception; the purchase, rent, and installation of necessary equipment for radio, television, and digital transmission and reception, including to Cuba, as authorized; and physical security worldwide, in addition to amounts otherwise available for such purposes, $9,700,000, to remain available until expended, as authorized. RELATED PROGRAMS The Asia Foundation For a grant to The Asia Foundation, as authorized by The Asia Foundation Act (22 U.S.C. 4402), $19,580,000, to remain available until expended. United States Institute of Peace For necessary expenses of the United States Institute of Peace, as authorized by the United States Institute of Peace Act (22 U.S.C. 4601 et seq.), $55,000,000, to remain available until September 30, 2026, which shall not be used for construction activities. Center for Middle Eastern-Western Dialogue Trust Fund For necessary expenses of the Center for Middle Eastern-Western Dialogue Trust Fund, as authorized by section 633 of the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act, 2004 (22 U.S.C. 2078), the total amount of the interest and earnings accruing to such Fund on or before September 30, 2025, to remain available until expended. Eisenhower Exchange Fellowship Program For necessary expenses of Eisenhower Exchange Fellowships, Incorporated, as authorized by sections 4 and 5 of the Eisenhower Exchange Fellowship Act of 1990 (20 U.S.C. 5204-5205), all interest and earnings accruing to the Eisenhower Exchange Fellowship Program Trust Fund on or before September 30, 2025, to remain available until expended: Provided, That none of the funds appropriated herein shall be used to pay any salary or other compensation, or to enter into any contract providing for the payment thereof, in excess of the rate authorized by section 5376 of title 5, United States Code; or for purposes which are not in accordance with section 200 of title 2 of the Code of Federal Regulations, including the restrictions on compensation for personal services. Israeli Arab Scholarship Program For necessary expenses of the Israeli Arab Scholarship Program, as authorized by section 214 of the Foreign Relations Authorization Act, Fiscal Years 1992 and 1993 (22 U.S.C. 2452 note), all interest and earnings accruing to the Israeli Arab Scholarship Fund on or before September 30, 2025, to remain available until expended. East-West Center To enable the Secretary of State to provide for carrying out the provisions of the Center for Cultural and Technical Interchange Between East and West Act of 1960, by grant to the Center for Cultural and Technical Interchange Between East and West in the State of Hawaii, $19,580,000. National Endowment for Democracy For grants made by the Department of State to the National Endowment for Democracy, as authorized by the National Endowment for Democracy Act (22 U.S.C. 4412), $315,000,000, to remain available until expended, of which $210,316,000 shall be allocated in the traditional and customary manner, including for the core institutes, and $104,684,000 shall be for democracy programs: Provided, That the requirements of section 7062(a) of this Act shall not apply to funds made available under this heading. OTHER COMMISSIONS Commission for the Preservation of America's Heritage Abroad salaries and expenses For necessary expenses for the Commission for the Preservation of America's Heritage Abroad, as authorized by chapter 3123 of title 54, United States Code, $770,000, of which $115,500 may remain available until September 30, 2026: Provided, That the Commission may procure temporary, intermittent, and other services notwithstanding paragraph (3) of section 312304(b) of such chapter: Provided further, That such authority shall terminate on October 1, 2025: Provided further, That the Commission shall notify the Committees on Appropriations prior to exercising such authority. United States Commission on International Religious Freedom salaries and expenses For necessary expenses for the United States Commission on International Religious Freedom, as authorized by title II of the International Religious Freedom Act of 1998 (22 U.S.C. 6431 et seq.), $4,850,000, to remain available until September 30, 2026, including not more than $4,000 for representation expenses. Commission on Security and Cooperation in Europe salaries and expenses For necessary expenses of the Commission on Security and Cooperation in Europe, as authorized by Public Law 94-304 (22 U.S.C. 3001 et seq.), $3,059,000, including not more than $6,000 for representation expenses, to remain available until September 30, 2026. Congressional-Executive Commission on the People's Republic of China salaries and expenses For necessary expenses of the Congressional-Executive Commission on the People's Republic of China, as authorized by title III of the U.S.- China Relations Act of 2000 (22 U.S.C. 6911 et seq.), $2,300,000, including not more than $3,000 for representation expenses, to remain available until September 30, 2026. United States-China Economic and Security Review Commission salaries and expenses For necessary expenses of the United States-China Economic and Security Review Commission, as authorized by section 1238 of the Floyd D. Spence National Defense Authorization Act for Fiscal Year 2001 (22 U.S.C. 7002), $4,000,000, including not more than $4,000 for representation expenses, to remain available until September 30, 2026: Provided, That the authorities, requirements, limitations, and conditions contained in the second through fifth provisos under this heading in the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2010 (division F of Public Law 111-117) shall continue in effect during fiscal year 2025 and shall apply to funds appropriated under this heading. TITLE II UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT Funds Appropriated to the President operating expenses For necessary expenses to carry out the provisions of section 667 of the Foreign Assistance Act of 1961, $1,214,808,000, of which up to $182,221,000 may remain available until September 30, 2026: Provided, That none of the funds appropriated under this heading and under the heading ``Capital Investment Fund'' in this title may be made available to finance the construction (including architect and engineering services), purchase, or long-term lease of offices for use by the United States Agency for International Development, unless the USAID Administrator has identified such proposed use of funds in a report submitted to the Committees on Appropriations at least 15 days prior to the obligation of funds for such purposes: Provided further, That contracts or agreements entered into with funds appropriated under this heading may entail commitments for the expenditure of such funds through the following fiscal year: Provided further, That the authority of sections 610 and 109 of the Foreign Assistance Act of 1961 may be exercised by the Secretary of State to transfer funds appropriated to carry out chapter 1 of part I of such Act to ``Operating Expenses'' in accordance with the provisions of those sections: Provided further, That of the funds appropriated or made available under this heading, not to exceed $250,000 may be available for representation and entertainment expenses, of which not to exceed $5,000 may be available for entertainment expenses, and not to exceed $100,500 shall be for official residence expenses, for USAID during the current fiscal year: Provided further, That of the funds appropriated under this heading, up to $20,000,000 may be transferred to, and merged with, funds appropriated or otherwise made available in title II of this Act under the heading ``Capital Investment Fund'', subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. capital investment fund For necessary expenses for overseas construction and related costs, and for the procurement and enhancement of information technology and related capital investments, pursuant to section 667 of the Foreign Assistance Act of 1961, $259,100,000, to remain available until expended: Provided, That this amount is in addition to funds otherwise available for such purposes: Provided further, That funds appropriated under this heading shall be available subject to the regular notification procedures of the Committees on Appropriations. office of inspector general For necessary expenses to carry out the provisions of section 667 of the Foreign Assistance Act of 1961, $90,000,000, of which up to $19,500,000 may remain available until September 30, 2026, for the Office of Inspector General of the United States Agency for International Development. TITLE III BILATERAL ECONOMIC ASSISTANCE Funds Appropriated to the President For necessary expenses to enable the President to carry out the provisions of the Foreign Assistance Act of 1961, and for other purposes, as follows: global health programs For necessary expenses to carry out the provisions of chapters 1 and 10 of part I of the Foreign Assistance Act of 1961, for global health activities, in addition to funds otherwise available for such purposes, $3,623,712,000, to remain available until September 30, 2028, and which shall be apportioned directly to the United States Agency for International Development: Provided, That this amount shall be made available for training, equipment, and technical assistance to build the capacity of public health institutions and organizations in developing countries, and for such activities as: (1) child survival and maternal health programs; (2) immunization and oral rehydration programs; (3) other health, nutrition, water and sanitation programs which directly address the needs of mothers and children, and related education programs; (4) assistance for children displaced or orphaned by causes other than AIDS; (5) programs for the prevention, treatment, control of, and research on HIV/AIDS, tuberculosis, polio, malaria, and other infectious diseases including neglected tropical diseases, and for assistance to communities severely affected by HIV/AIDS, including children infected or affected by AIDS; (6) disaster preparedness training for health crises; (7) programs to prevent, prepare for, and respond to unanticipated and emerging global health threats; and (8) family planning/reproductive health: Provided further, That funds appropriated under this paragraph may be made available for a United States contribution to The GAVI Alliance: Provided further, That none of the funds made available in this Act nor any unobligated balances from prior appropriations Acts may be made available to any organization or program which, as determined by the President of the United States, supports or participates in the management of a program of coercive abortion or involuntary sterilization: Provided further, That any determination made under the previous proviso must be made not later than 6 months after the date of enactment of this Act, and must be accompanied by the evidence and criteria utilized to make the determination: Provided further, That none of the funds made available under this Act may be used to pay for the performance of abortion as a method of family planning or to motivate or coerce any person to practice abortions: Provided further, That nothing in this paragraph shall be construed to alter any existing statutory prohibitions against abortion under section 104 of the Foreign Assistance Act of 1961: Provided further, That none of the funds made available under this Act may be used to lobby for or against abortion: Provided further, That in order to reduce reliance on abortion in developing nations, funds shall be available only to voluntary family planning projects which offer, either directly or through referral to, or information about access to, a broad range of family planning methods and services, and that any such voluntary family planning project shall meet the following requirements: (1) service providers or referral agents in the project shall not implement or be subject to quotas, or other numerical targets, of total number of births, number of family planning acceptors, or acceptors of a particular method of family planning (this provision shall not be construed to include the use of quantitative estimates or indicators for budgeting and planning purposes); (2) the project shall not include payment of incentives, bribes, gratuities, or financial reward to: (A) an individual in exchange for becoming a family planning acceptor; or (B) program personnel for achieving a numerical target or quota of total number of births, number of family planning acceptors, or acceptors of a particular method of family planning; (3) the project shall not deny any right or benefit, including the right of access to participate in any program of general welfare or the right of access to health care, as a consequence of any individual's decision not to accept family planning services; (4) the project shall provide family planning acceptors comprehensible information on the health benefits and risks of the method chosen, including those conditions that might render the use of the method inadvisable and those adverse side effects known to be consequent to the use of the method; and (5) the project shall ensure that experimental contraceptive drugs and devices and medical procedures are provided only in the context of a scientific study in which participants are advised of potential risks and benefits; and, not less than 60 days after the date on which the USAID Administrator determines that there has been a violation of the requirements contained in paragraph (1), (2), (3), or (5) of this proviso, or a pattern or practice of violations of the requirements contained in paragraph (4) of this proviso, the Administrator shall submit to the Committees on Appropriations a report containing a description of such violation and the corrective action taken by the Agency: Provided further, That in awarding grants for natural family planning under section 104 of the Foreign Assistance Act of 1961 no applicant shall be discriminated against because of such applicant's religious or conscientious commitment to offer only natural family planning; and, additionally, all such applicants shall comply with the requirements of the previous proviso: Provided further, That for purposes of this or any other Act authorizing or appropriating funds for the Department of State, foreign operations, and related programs, the term ``motivate'', as it relates to family planning assistance, shall not be construed to prohibit the provision, consistent with local law, of information or counseling about all pregnancy options: Provided further, That information provided about the use of condoms as part of projects or activities that are funded from amounts appropriated by this Act shall be medically accurate and shall include the public health benefits and failure rates of such use. In addition, for necessary expenses to carry out the provisions of the Foreign Assistance Act of 1961 for the prevention, treatment, and control of, and research on, HIV/AIDS, $5,645,000,000, to remain available until September 30, 2029, which shall be apportioned directly to the Department of State: Provided, That funds appropriated under this paragraph may be made available, notwithstanding any other provision of law, except for the United States Leadership Against HIV/ AIDS, Tuberculosis, and Malaria Act of 2003 (Public Law 108-25), for a United States contribution to the Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund): Provided further, That the amount of such contribution shall be $1,250,000,000: Provided further, That up to 5 percent of the aggregate amount of funds made available to the Global Fund in fiscal year 2025 may be made available to USAID for technical assistance related to the activities of the Global Fund, subject to the regular notification procedures of the Committees on Appropriations: Provided further, That of the funds appropriated under this paragraph, up to $22,000,000 may be made available, in addition to amounts otherwise available for such purposes, for administrative expenses of the United States Global AIDS Coordinator, which, consistent with prior years, shall only be made available to support the prevention, treatment, and control of HIV/AIDS. development assistance For necessary expenses to carry out the provisions of sections 103, 105, 106, 214, and sections 251 through 255, and chapter 10 of part I of the Foreign Assistance Act of 1961, $3,000,000,000, to remain available until September 30, 2028: Provided, That funds made available under this heading shall be apportioned to the United States Agency for International Development. international disaster assistance For necessary expenses to carry out the provisions of section 491 of the Foreign Assistance Act of 1961 for international disaster relief, rehabilitation, and reconstruction assistance, $3,452,362,000, to remain available until expended: Provided, That funds made available under this heading shall be apportioned to the United States Agency for International Development not later than 60 days after the date of enactment of this Act. transition initiatives For necessary expenses for international disaster rehabilitation and reconstruction assistance administered by the Office of Transition Initiatives, United States Agency for International Development, pursuant to section 491 of the Foreign Assistance Act of 1961, and to support transition to democracy and long-term development of countries in crisis, $80,000,000, to remain available until expended: Provided, That such support may include assistance to develop, strengthen, or preserve democratic institutions and processes, revitalize basic infrastructure, and foster the peaceful resolution of conflict: Provided further, That the USAID Administrator shall submit a report to the Committees on Appropriations at least 5 days prior to beginning a new, or terminating a, program of assistance: Provided further, That if the Secretary of State determines that it is important to the national interest of the United States to provide transition assistance in excess of the amount appropriated under this heading, up to $15,000,000 of the funds appropriated by this Act to carry out the provisions of part I of the Foreign Assistance Act of 1961 may be used for purposes of this heading and under the authorities applicable to funds appropriated under this heading: Provided further, That funds made available pursuant to the previous proviso shall be made available subject to prior consultation with the Committees on Appropriations. complex crises fund For necessary expenses to carry out the provisions of section 509(b) of the Global Fragility Act of 2019 (title V of division J of Public Law 116-94), $30,000,000, to remain available until expended: Provided, That funds appropriated under this heading may be made available notwithstanding any other provision of law, except sections 7007, 7008, and 7018 of this Act and section 620M of the Foreign Assistance Act of 1961: Provided further, That funds appropriated under this heading shall be apportioned to the United States Agency for International Development. economic support fund For necessary expenses to carry out the provisions of chapter 4 of part II of the Foreign Assistance Act of 1961, $3,430,888,000, to remain available until September 30, 2028. democracy fund For necessary expenses to carry out the provisions of the Foreign Assistance Act of 1961 for the promotion of democracy globally, including to carry out the purposes of section 502(b)(3) and (5) of Public Law 98-164 (22 U.S.C. 4411), $205,200,000, to remain available until September 30, 2027, which shall be made available for the Human Rights and Democracy Fund of the Bureau of Democracy, Human Rights, and Labor, Department of State: Provided, That funds appropriated under this heading that are made available to the National Endowment for Democracy and its core institutes are in addition to amounts otherwise made available by this Act for such purposes: Provided further, That the Assistant Secretary for Democracy, Human Rights, and Labor, Department of State, shall consult with the Committees on Appropriations prior to the initial obligation of funds appropriated under this paragraph. For an additional amount for such purposes, $150,500,000, to remain available until September 30, 2027, which shall be made available for the Bureau for Democracy, Human Rights, and Governance, United States Agency for International Development. assistance for europe, eurasia and central asia For necessary expenses to carry out the provisions of the Foreign Assistance Act of 1961, the FREEDOM Support Act (Public Law 102-511), and the Support for Eastern European Democracy (SEED) Act of 1989 (Public Law 101-179), $770,334,000, to remain available until September 30, 2028, which shall be available, notwithstanding any other provision of law, except section 7047 of this Act, for assistance and related programs for countries identified in section 3 of the FREEDOM Support Act (22 U.S.C. 5801) and section 3(c) of the SEED Act of 1989 (22 U.S.C. 5402), in addition to funds otherwise available for such purposes: Provided, That funds appropriated by this Act under the headings ``Global Health Programs'', ``Economic Support Fund'', and ``International Narcotics Control and Law Enforcement'' that are made available for assistance for such countries shall be administered in accordance with the responsibilities of the coordinator designated pursuant to section 102 of the FREEDOM Support Act and section 601 of the SEED Act of 1989: Provided further, That funds appropriated under this heading shall be considered to be economic assistance under the Foreign Assistance Act of 1961 for purposes of making available the administrative authorities contained in that Act for the use of economic assistance: Provided further, That funds appropriated under this heading may be made available for contributions to multilateral initiatives to counter hybrid threats. Department of State migration and refugee assistance For necessary expenses not otherwise provided for, to enable the Secretary of State to carry out the provisions of section 2(a) and (b) of the Migration and Refugee Assistance Act of 1962 (22 U.S.C. 2601), and other activities to meet refugee and migration needs; salaries and expenses of personnel and dependents as authorized by the Foreign Service Act of 1980 (22 U.S.C. 3901 et seq.); allowances as authorized by sections 5921 through 5925 of title 5, United States Code; purchase and hire of passenger motor vehicles; and services as authorized by section 3109 of title 5, United States Code, $2,453,236,000, to remain available until expended: Provided, That of the funds appropriated under this heading, not less than $6,500,000 shall be made available for refugees resettling in Israel. Independent Agencies peace corps (including transfer of funds) For necessary expenses to carry out the provisions of the Peace Corps Act (22 U.S.C. 2501 et seq.), including the purchase of not to exceed five passenger motor vehicles for administrative purposes for use outside of the United States, $410,500,000, of which $7,300,000 is for the Office of Inspector General, to remain available until September 30, 2026: Provided, That the Director of the Peace Corps may transfer to the Foreign Currency Fluctuations Account, as authorized by section 16 of the Peace Corps Act (22 U.S.C. 2515), an amount not to exceed $5,000,000: Provided further, That funds transferred pursuant to the previous proviso may not be derived from amounts made available for Peace Corps overseas operations: Provided further, That of the funds appropriated under this heading, not to exceed $104,000 may be available for representation expenses, of which not to exceed $4,000 may be made available for entertainment expenses: Provided further, That in addition to the requirements under section 7015(a) of this Act, the Peace Corps shall consult with the Committees on Appropriations prior to any decision to open, close, or suspend a domestic or overseas office or a country program unless there is a substantial risk to volunteers or other Peace Corps personnel: Provided further, That none of the funds appropriated under this heading shall be used to pay for abortions: Provided further, That notwithstanding the previous proviso, section 614 of division E of Public Law 113-76 shall apply to funds appropriated under this heading. millennium challenge corporation For necessary expenses to carry out the provisions of the Millennium Challenge Act of 2003 (22 U.S.C. 7701 et seq.) (MCA), $937,000,000, to remain available until expended: Provided, That of the funds appropriated under this heading, up to $146,000,000 may be available for administrative expenses of the Millennium Challenge Corporation: Provided further, That section 605(e) of the MCA (22 U.S.C. 7704(e)) shall apply to funds appropriated under this heading: Provided further, That funds appropriated under this heading may be made available for a Millennium Challenge Compact entered into pursuant to section 609 of the MCA (22 U.S.C. 7708) only if such Compact obligates, or contains a commitment to obligate subject to the availability of funds and the mutual agreement of the parties to the Compact to proceed, the entire amount of the United States Government funding anticipated for the duration of the Compact: Provided further, That of the funds appropriated under this heading, not to exceed $100,000 may be available for representation and entertainment expenses, of which not to exceed $5,000 may be available for entertainment expenses. inter-american foundation For necessary expenses to carry out the functions of the Inter- American Foundation in accordance with the provisions of section 401 of the Foreign Assistance Act of 1969, $22,500,000, to remain available until September 30, 2026: Provided, That of the funds appropriated under this heading, not to exceed $2,000 may be available for representation expenses. united states african development foundation For necessary expenses to carry out the African Development Foundation Act (title V of Public Law 96-533; 22 U.S.C. 290h et seq.), $30,000,000, to remain available until September 30, 2026, of which not to exceed $2,000 may be available for representation expenses: Provided, That funds made available to grantees may be invested pending expenditure for project purposes when authorized by the Board of Directors of the United States African Development Foundation (USADF): Provided further, That interest earned shall be used only for the purposes for which the grant was made: Provided further, That notwithstanding section 505(a)(2) of the African Development Foundation Act (22 U.S.C. 290h-3(a)(2)), in exceptional circumstances the Board of Directors of the USADF may waive the $250,000 limitation contained in that section with respect to a project and a project may exceed the limitation by up to 10 percent if the increase is due solely to foreign currency fluctuation: Provided further, That the USADF shall submit a report to the appropriate congressional committees after each time such waiver authority is exercised: Provided further, That the USADF may make rent or lease payments in advance from appropriations available for such purpose for offices, buildings, grounds, and quarters in Africa as may be necessary to carry out its functions: Provided further, That the USADF may maintain bank accounts outside the United States Treasury and retain any interest earned on such accounts, in furtherance of the purposes of the African Development Foundation Act: Provided further, That the USADF may not withdraw any appropriation from the Treasury prior to the need of spending such funds for program purposes. Department of the Treasury international affairs technical assistance For necessary expenses to carry out the provisions of section 129 of the Foreign Assistance Act of 1961, $30,000,000, to remain available until expended: Provided, That amounts made available under this heading may be made available to contract for services as described in section 129(d)(3)(A) of the Foreign Assistance Act of 1961, without regard to the location in which such services are performed. debt restructuring For ``Bilateral Economic Assistance--Department of the Treasury-- Debt Restructuring'' there is appropriated $10,000,000, to remain available until September 30, 2028, for the costs, as defined in section 502 of the Congressional Budget Act of 1974, of modifying loans and loan guarantees for, or credits extended to, such countries as the President may determine, including the costs of selling, reducing, or canceling amounts owed to the United States pursuant to multilateral debt restructurings, including Paris Club debt restructurings and the ``Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative'': Provided, That such amounts may be used notwithstanding any other provision of law. TITLE IV INTERNATIONAL SECURITY ASSISTANCE Department of State international narcotics control and law enforcement For necessary expenses to carry out section 481 of the Foreign Assistance Act of 1961, $1,566,183,000, to remain available until September 30, 2028: Provided, That the Department of State may use the authority of section 608 of the Foreign Assistance Act of 1961, without regard to its restrictions, to receive excess property from an agency of the United States Government for the purpose of providing such property to a foreign country or international organization under chapter 8 of part I of such Act, subject to the regular notification procedures of the Committees on Appropriations: Provided further, That section 482(b) of the Foreign Assistance Act of 1961 shall not apply to funds appropriated under this heading, except that any funds made available notwithstanding such section shall be subject to the regular notification procedures of the Committees on Appropriations: Provided further, That funds appropriated under this heading shall be made available to support training and technical assistance for foreign law enforcement, corrections, judges, and other judicial authorities, utilizing regional partners: Provided further, That funds made available under this heading that are transferred to another department, agency, or instrumentality of the United States Government pursuant to section 632(b) of the Foreign Assistance Act of 1961 valued in excess of $5,000,000, and any agreement made pursuant to section 632(a) of such Act, shall be subject to the regular notification procedures of the Committees on Appropriations: Provided further, That funds made available under this heading for Program Development and Support may be made available notwithstanding pre-obligation requirements contained in this Act, except for the notification requirements of section 7015. nonproliferation, anti-terrorism, demining and related programs For necessary expenses for nonproliferation, anti-terrorism, demining and related programs and activities, $921,000,000, to remain available until September 30, 2028, to carry out the provisions of chapter 8 of part II of the Foreign Assistance Act of 1961 for anti- terrorism assistance, chapter 9 of part II of the Foreign Assistance Act of 1961, section 504 of the FREEDOM Support Act (22 U.S.C. 5854), section 23 of the Arms Export Control Act (22 U.S.C. 2763), or the Foreign Assistance Act of 1961 for demining activities, the clearance of unexploded ordnance, the destruction of small arms, and related activities, notwithstanding any other provision of law, including activities implemented through nongovernmental and international organizations, and section 301 of the Foreign Assistance Act of 1961 for a United States contribution to the Comprehensive Nuclear Test Ban Treaty Preparatory Commission, and for a voluntary contribution to the International Atomic Energy Agency (IAEA): Provided, That funds made available under this heading for the Nonproliferation and Disarmament Fund shall be made available, notwithstanding any other provision of law and subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations, to promote bilateral and multilateral activities relating to nonproliferation, disarmament, and weapons destruction, and shall remain available until expended: Provided further, That such funds may also be used for such countries other than the Independent States of the former Soviet Union and international organizations when it is in the national security interest of the United States to do so: Provided further, That funds appropriated under this heading may be made available for the IAEA unless the Secretary of State determines that Israel is being denied its right to participate in the activities of that Agency: Provided further, That funds made available for conventional weapons destruction programs, including demining and related activities, in addition to funds otherwise available for such purposes, may be used for administrative expenses related to the operation and management of such programs and activities, subject to the regular notification procedures of the Committees on Appropriations. peacekeeping operations For necessary expenses to carry out the provisions of section 551 of the Foreign Assistance Act of 1961, $420,458,000, to remain available until September 30, 2027: Provided, That funds appropriated under this heading may be used, notwithstanding section 660 of the Foreign Assistance Act of 1961, to provide assistance to enhance the capacity of foreign civilian security forces, including gendarmes, to participate in peacekeeping operations: Provided further, That of the funds appropriated under this heading, not less than $30,000,000 shall be made available for a United States contribution to the Multinational Force and Observers mission in the Sinai: Provided further, That funds appropriated under this heading may be made available to pay assessed expenses of international peacekeeping activities in Somalia under the same terms and conditions, as applicable, as funds appropriated by this Act under the heading ``Contributions for International Peacekeeping Activities'': Provided further, That funds appropriated under this heading shall be subject to the regular notification procedures of the Committees on Appropriations. Funds Appropriated to the President international military education and training For necessary expenses to carry out the provisions of section 541 of the Foreign Assistance Act of 1961, $125,425,000, to remain available until September 30, 2027: Provided, That the civilian personnel for whom military education and training may be provided under this heading may include civilians who are not members of a government whose participation would contribute to improved civil- military relations, civilian control of the military, or respect for human rights: Provided further, That of the funds appropriated under this heading, $3,500,000 shall remain available until expended to increase the participation of women in programs and activities funded under this heading, following consultation with the Committees on Appropriations: Provided further, That of the funds appropriated under this heading, not to exceed $50,000 may be available for entertainment expenses. foreign military financing program For necessary expenses for grants to enable the President to carry out the provisions of section 23 of the Arms Export Control Act (22 U.S.C. 2763), $6,828,049,000: Provided, That to expedite the provision of assistance to foreign countries and international organizations, the Secretary of State, following consultation with the Committees on Appropriations and subject to the regular notification procedures of such Committees, may use the funds appropriated under this heading to procure defense articles and services to enhance the capacity of foreign security forces: Provided further, That funds appropriated or otherwise made available under this heading shall be nonrepayable notwithstanding any requirement in section 23 of the Arms Export Control Act: Provided further, That funds made available under this heading shall be obligated upon apportionment in accordance with paragraph (5)(C) of section 1501(a) of title 31, United States Code. None of the funds made available under this heading shall be available to finance the procurement of defense articles, defense services, or design and construction services that are not sold by the United States Government under the Arms Export Control Act unless the foreign country proposing to make such procurement has first signed an agreement with the United States Government specifying the conditions under which such procurement may be financed with such funds: Provided, That all country and funding level increases in allocations shall be submitted through the regular notification procedures of section 7015 of this Act: Provided further, That funds made available under this heading may be used, notwithstanding any other provision of law, for demining, the clearance of unexploded ordnance, and related activities, and may include activities implemented through nongovernmental and international organizations: Provided further, That a country that is a member of the North Atlantic Treaty Organization (NATO) or is a major non-NATO ally designated by section 517(b) of the Foreign Assistance Act of 1961 may utilize funds made available under this heading for procurement of defense articles, defense services, or design and construction services that are not sold by the United States Government under the Arms Export Control Act: Provided further, That funds appropriated under this heading shall be expended at the minimum rate necessary to make timely payment for defense articles and services: Provided further, That not more than $77,000,000 of the funds appropriated under this heading may be obligated for necessary expenses, including the purchase of passenger motor vehicles for replacement only for use outside of the United States, for the general costs of administering military assistance and sales, except that this limitation may be exceeded only through the regular notification procedures of the Committees on Appropriations: Provided further, That the Secretary of State may use funds made available under this heading pursuant to the previous proviso for the administrative and other operational costs of the Department of State related to military assistance and sales, assistance under section 551 of the Foreign Assistance Act of 1961, and Department of Defense security assistance programs, in addition to funds otherwise available for such purposes: Provided further, That up to $2,000,000 of the funds made available pursuant to the previous proviso may be used for direct hire personnel, except that this limitation may be exceeded by the Secretary of State following consultation with the Committees on Appropriations: Provided further, That of the funds made available under this heading for general costs of administering military assistance and sales, not to exceed $4,000 may be available for entertainment expenses and not to exceed $130,000 may be available for representation expenses: Provided further, That not more than $1,487,254,020 of funds realized pursuant to section 21(e)(1)(A) of the Arms Export Control Act (22 U.S.C. 2761(e)(1)(A)) may be obligated for expenses incurred by the Department of Defense during fiscal year 2025 pursuant to section 43(b) of the Arms Export Control Act (22 U.S.C. 2792(b)), except that this limitation may be exceeded only through the regular notification procedures of the Committees on Appropriations. TITLE V MULTILATERAL ASSISTANCE International Financial Institutions global environment facility For payment to the International Bank for Reconstruction and Development as trustee for the Global Environment Facility by the Secretary of the Treasury, $139,575,000, to remain available until expended. contribution to the international bank for reconstruction and development For payment to the International Bank for Reconstruction and Development by the Secretary of the Treasury for the United States share of the paid-in portion of the increases in capital stock, $206,500,000, to remain available until expended. limitation on callable capital subscriptions The United States Governor of the International Bank for Reconstruction and Development may subscribe without fiscal year limitation to the callable capital portion of the United States share of increases in capital stock in an amount not to exceed $1,421,275,728.70. contribution to the international development association For payment to the International Development Association by the Secretary of the Treasury, $1,097,010,000, to remain available until expended. contribution to the asian development fund For payment to the Asian Development Bank's Asian Development Fund by the Secretary of the Treasury, $43,610,000, to remain available until expended. contribution to the african development bank For payment to the African Development Bank by the Secretary of the Treasury for the United States share of the paid-in portion of the increases in capital stock, $32,417,000, to remain available until expended. limitation on callable capital subscriptions The United States Governor of the African Development Bank may subscribe without fiscal year limitation to the callable capital portion of the United States share of increases in capital stock in an amount not to exceed $856,174,624. contribution to the african development fund For payment to the African Development Fund by the Secretary of the Treasury, $171,300,000, to remain available until expended. contribution to the international fund for agricultural development For payment to the International Fund for Agricultural Development by the Secretary of the Treasury, $30,000,000, to remain available until expended. TITLE VI EXPORT AND INVESTMENT ASSISTANCE Export-Import Bank of the United States inspector general For necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Act of 1978 (5 U.S.C. App.), $9,600,000, of which up to $1,440,000 may remain available until September 30, 2026. program account The Export-Import Bank of the United States is authorized to make such expenditures within the limits of funds and borrowing authority available to such corporation, and in accordance with law, and to make such contracts and commitments without regard to fiscal year limitations, as provided by section 9104 of title 31, United States Code, as may be necessary in carrying out the program for the current fiscal year for such corporation: Provided, That none of the funds available during the current fiscal year may be used to make expenditures, contracts, or commitments for the export of nuclear equipment, fuel, or technology to any country, other than a nuclear- weapon state as defined in Article IX of the Treaty on the Non- Proliferation of Nuclear Weapons eligible to receive economic or military assistance under this Act, that has detonated a nuclear explosive after the date of enactment of this Act. administrative expenses For administrative expenses to carry out the direct and guaranteed loan and insurance programs, including hire of passenger motor vehicles and services as authorized by section 3109 of title 5, United States Code, and not to exceed $30,000 for official reception and representation expenses for members of the Board of Directors, not to exceed $125,000,000, of which up to $18,750,000 may remain available until September 30, 2026: Provided, That the Export-Import Bank (the Bank) may accept, and use, payment or services provided by transaction participants for legal, financial, or technical services in connection with any transaction for which an application for a loan, guarantee or insurance commitment has been made: Provided further, That notwithstanding subsection (b) of section 117 of the Export Enhancement Act of 1992, subsection (a) of such section shall remain in effect until September 30, 2025: Provided further, That the Bank shall charge fees for necessary expenses (including special services performed on a contract or fee basis, but not including other personal services) in connection with the collection of moneys owed the Bank, repossession or sale of pledged collateral or other assets acquired by the Bank in satisfaction of moneys owed the Bank, or the investigation or appraisal of any property, or the evaluation of the legal, financial, or technical aspects of any transaction for which an application for a loan, guarantee or insurance commitment has been made, or systems infrastructure directly supporting transactions: Provided further, That in addition to other funds appropriated for administrative expenses, such fees shall be credited to this account for such purposes, to remain available until expended. program budget appropriations For the cost of direct loans, loan guarantees, insurance, and tied- aid grants as authorized by section 10 of the Export-Import Bank Act of 1945, as amended, not to exceed $15,000,000, to remain available until September 30, 2028: Provided, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That such funds shall remain available until September 30, 2040, for the disbursement of direct loans, loan guarantees, insurance and tied-aid grants obligated in fiscal years 2025 through 2028. receipts collected Receipts collected pursuant to the Export-Import Bank Act of 1945 (Public Law 79-173) and the Federal Credit Reform Act of 1990, in an amount not to exceed the amount appropriated herein, shall be credited as offsetting collections to this account: Provided, That the sums herein appropriated from the General Fund shall be reduced on a dollar- for-dollar basis by such offsetting collections so as to result in a final fiscal year appropriation from the General Fund estimated at $0. United States International Development Finance Corporation inspector general For necessary expenses of the Office of Inspector General in carrying out the provisions of the Inspector General Act of 1978 (5 U.S.C. App.), $8,000,000, to remain available until September 30, 2026. corporate capital account The United States International Development Finance Corporation (the Corporation) is authorized to make such expenditures and commitments within the limits of funds and borrowing authority available to the Corporation, and in accordance with the law, and to make such expenditures and commitments without regard to fiscal year limitations, as provided by section 9104 of title 31, United States Code, as may be necessary in carrying out the programs for the current fiscal year for the Corporation: Provided, That for necessary expenses of the activities described in subsections (b), (c), (e), (f), and (g) of section 1421 of the BUILD Act of 2018 (division F of Public Law 115- 254) and for administrative expenses to carry out authorized activities described in section 1434(d) of such Act, $769,029,000: Provided further, That of the amount provided-- (1) $198,000,000 shall remain available until September 30, 2027, for administrative expenses to carry out authorized activities (including an amount for official reception and representation expenses which shall not exceed $25,000); and (2) $571,029,000 shall remain available until September 30, 2027, for the activities described in subsections (b), (c), (e), (f), and (g) of section 1421 of the BUILD Act of 2018, except such amounts obligated in a fiscal year for activities described in section 1421(c) of such Act shall remain available for disbursement for the term of the underlying project: Provided further, That amounts made available under this paragraph may be paid to the ``United States International Development Finance Corporation--Program Account'' for programs authorized by subsections (b), (e), (f), and (g) of section 1421 of the BUILD Act of 2018: Provided further, That funds may only be obligated pursuant to section 1421(g) of the BUILD Act of 2018 subject to prior consultation with the appropriate congressional committees and the regular notification procedures of the Committees on Appropriations: Provided further, That funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs for support by the Corporation in upper-middle income countries shall be subject to prior consultation with the Committees on Appropriations: Provided further, That in fiscal year 2025 collections of amounts described in section 1434(h) of the BUILD Act of 2018 shall be credited as offsetting collections to this appropriation: Provided further, That such collections collected in fiscal year 2025 in excess of $769,029,000 shall be credited to this account and shall be available in future fiscal years only to the extent provided in advance in appropriations Acts: Provided further, That in fiscal year 2025, if such collections are less than $769,029,000, receipts collected pursuant to the BUILD Act of 2018 and the Federal Credit Reform Act of 1990, in an amount equal to such shortfall, shall be credited as offsetting collections to this appropriation: Provided further, That fees charged for project-specific transaction costs as described in section 1434(k) of the BUILD Act of 2018, and other direct costs associated with origination or monitoring services provided to specific or potential investors, shall not be considered administrative expenses for the purposes of this heading: Provided further, That such fees shall be credited to this account for such purposes, to remain available until expended: Provided further, That funds appropriated or otherwise made available under this heading may not be used to provide any type of assistance that is otherwise prohibited by any other provision of law or to provide assistance to any foreign country that is otherwise prohibited by any other provision of law: Provided further, That the sums herein appropriated from the General Fund shall be reduced on a dollar-for-dollar basis by the offsetting collections described under this heading so as to result in a final fiscal year appropriation from the General Fund estimated at $354,029,000. program account Amounts paid from ``United States International Development Finance Corporation--Corporate Capital Account'' (CCA) shall remain available until September 30, 2027: Provided, That amounts paid to this account from CCA or transferred to this account pursuant to section 1434(j) of the BUILD Act of 2018 (division F of Public Law 115-254) shall be available for the costs of direct and guaranteed loans provided by the Corporation pursuant to section 1421(b) of such Act and the costs of modifying loans and loan guarantees transferred to the Corporation pursuant to section 1463 of such Act: Provided further, That such costs, including the cost of modifying such loans, shall be as defined in section 502 of the Congressional Budget Act of 1974: Provided further, That such amounts obligated in a fiscal year shall remain available for disbursement for the following 8 fiscal years: Provided further, That funds made available in this Act and transferred to carry out the Foreign Assistance Act of 1961 pursuant to section 1434(j) of the BUILD Act of 2018 may remain available for obligation for 1 additional fiscal year: Provided further, That the total loan principal or guaranteed principal amount shall not exceed $12,000,000,000. Trade and Development Agency For necessary expenses to carry out the provisions of section 661 of the Foreign Assistance Act of 1961, $87,000,000, to remain available until September 30, 2027: Provided, That of the funds appropriated under this heading, not more than $5,000 may be available for representation and entertainment expenses: Provided further, That the United States Trade and Development Agency may promote United States private sector participation in development projects in any country in which the United States Government has strategic foreign policy goals or national security interests, subject to prior consultation with the Committees on Appropriations. TITLE VII GENERAL PROVISIONS allowances and differentials Sec. 7001. Funds appropriated under title I of this Act shall be available, except as otherwise provided, for allowances and differentials as authorized by subchapter 59 of title 5, United States Code; for services as authorized by section 3109 of such title and for hire of passenger transportation pursuant to section 1343(b) of title 31, United States Code. unobligated balances report Sec. 7002. Any department or agency of the United States Government to which funds are appropriated or otherwise made available by this Act shall provide to the Committees on Appropriations a quarterly accounting of cumulative unobligated balances and obligated, but unexpended, balances by program, project, and activity, and Treasury Account Fund Symbol of all funds received by such department or agency in fiscal year 2025 or any previous fiscal year, disaggregated by fiscal year: Provided, That the report required by this section shall be submitted not later than 30 days after the end of each fiscal quarter and should specify by account the amount of funds obligated pursuant to bilateral agreements which have not been further sub-obligated. consulting services Sec. 7003. The expenditure of any appropriation under title I of this Act for any consulting service through procurement contract, pursuant to section 3109 of title 5, United States Code, shall be limited to those contracts where such expenditures are a matter of public record and available for public inspection, except where otherwise provided under existing law, or under existing Executive order issued pursuant to existing law. diplomatic facilities Sec. 7004. (a) Capital Security Cost Sharing Exception.-- Notwithstanding paragraph (2) of section 604(e) of the Secure Embassy Construction and Counterterrorism Act of 1999 (title VI of division A of H.R. 3427, as enacted into law by section 1000(a)(7) of Public Law 106-113 and contained in appendix G of that Act), as amended by section 111 of the Department of State Authorities Act, Fiscal Year 2017 (Public Law 114-323), a project to construct a facility of the United States may include office space or other accommodations for members of the United States Marine Corps. (b) Consultation and Notifications.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs, which may be made available for the acquisition of property or award of construction contracts for overseas United States diplomatic facilities during fiscal year 2025, shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations: Provided, That notifications pursuant to this subsection shall include the information enumerated under this section in the report accompanying this Act: Provided further, That the Secretary of State shall consult with the Committees on Appropriations at the early project development stage for out-year construction projects, including to discuss security and non-security construction requirements, modifications to scope, and cost reductions identified for such projects, consistent with applicable laws and regulations: Provided further, That the Secretary shall submit a quarterly report to the Committees on Appropriations on contingency savings identified from funds appropriated under the heading ``Embassy Security, Construction, and Maintenance'' by prior Acts making appropriations for the Department of State, foreign operations, and related programs, and the obligation of funds made available by such savings shall be subject to prior consultation with the Committees on Appropriations. (c) Interim and Temporary Facilities Abroad.-- (1) Security vulnerabilities.--Funds appropriated by this Act under the heading ``Embassy Security, Construction, and Maintenance'' may be made available, following consultation with the appropriate congressional committees, to address security vulnerabilities at interim and temporary United States diplomatic facilities abroad, including physical security upgrades and local guard staffing. (2) Consultation.--Notwithstanding any other provision of law, the opening, closure, or any significant modification to an interim or temporary United States diplomatic facility shall be subject to prior consultation with the appropriate congressional committees and the regular notification procedures of the Committees on Appropriations, except that such consultation and notification may be waived if there is a security risk to personnel. (d) Soft Targets.--Funds appropriated by this Act under the heading ``Embassy Security, Construction, and Maintenance'' may be made available for security upgrades to soft targets, including schools, recreational facilities, residences, and places of worship used by United States diplomatic personnel and their dependents. (e) Facilities.--None of the funds appropriated or otherwise made available by this Act may be used to move the United States embassy in Israel to a location other than Jerusalem. personnel actions Sec. 7005. Any costs incurred by a department or agency funded under title I of this Act resulting from personnel actions taken in response to funding reductions included in this Act shall be absorbed within the total budgetary resources available under title I to such department or agency: Provided, That the authority to transfer funds between appropriations accounts as may be necessary to carry out this section is provided in addition to authorities included elsewhere in this Act: Provided further, That use of funds to carry out this section shall be treated as a reprogramming of funds under section 7015 of this Act. prohibition on publicity or propaganda Sec. 7006. No part of any appropriation contained in this Act shall be used for publicity or propaganda purposes within the United States not authorized before enactment of this Act by Congress: Provided, That up to $25,000 may be made available to carry out the provisions of section 316 of the International Security and Development Cooperation Act of 1980 (Public Law 96-533; 22 U.S.C. 2151a note). prohibition against direct funding for certain countries Sec. 7007. None of the funds appropriated or otherwise made available pursuant to titles III through VI of this Act shall be obligated or expended to finance directly any assistance or reparations for the governments of Cuba, North Korea, Iran, or Syria: Provided, That for purposes of this section, the prohibition on obligations or expenditures shall include direct loans, credits, insurance, and guarantees of the Export-Import Bank or its agents. coups d'etat Sec. 7008. (a) Prohibition.--None of the funds appropriated or otherwise made available pursuant to titles III through VI of this Act shall be obligated or expended to finance directly any assistance to the government of any country whose duly elected head of government is deposed by military coup d'etat or decree or, after the date of enactment of this Act, a coup d'etat or decree in which the military plays a decisive role: Provided, That assistance may be resumed to such government if the Secretary of State certifies and reports to the appropriate congressional committees that subsequent to the termination of assistance a democratically elected government has taken office: Provided further, That the provisions of this section shall not apply to assistance to promote democratic elections or public participation in democratic processes, or to support a democratic transition: Provided further, That funds made available pursuant to the previous provisos shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. (b) Waiver.--The Secretary of State, following consultation with the heads of relevant Federal agencies, may waive the restriction in this section on a program-by-program basis if the Secretary certifies and reports to the Committees on Appropriations that such waiver is in the national security interest of the United States: Provided, That funds made available pursuant to such waiver shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. transfer of funds authority Sec. 7009. (a) Department of State and United States Agency for Global Media.-- (1) Department of state.-- (A) In general.--Not to exceed 5 percent of any appropriation made available for the current fiscal year for the Department of State under title I of this Act may be transferred between, and merged with, such appropriations, but no such appropriation, except as otherwise specifically provided, shall be increased by more than 10 percent by any such transfers, and no such transfer may be made to increase the appropriation under the heading ``Representation Expenses''. (B) Embassy security.--Funds appropriated under the headings ``Diplomatic Programs'', including for Worldwide Security Protection, ``Embassy Security, Construction, and Maintenance'', and ``Emergencies in the Diplomatic and Consular Service'' in this Act may be transferred to, and merged with, funds appropriated under such headings if the Secretary of State determines and reports to the Committees on Appropriations that to do so is necessary to implement the recommendations of the Benghazi Accountability Review Board, for emergency evacuations, or to prevent or respond to security situations and requirements, subject to the regular notification procedures of such Committees. (C) Emergencies in the diplomatic and consular service.--Of the amount made available under the heading ``Diplomatic Programs'' for Worldwide Security Protection, not to exceed $50,000,000 may be transferred to, and merged with, funds made available by this Act under the heading ``Emergencies in the Diplomatic and Consular Service'', to be available only for emergency evacuations and rewards, as authorized. (D) Capital investment fund.--Of the amount made available under the heading, ``Diplomatic Programs'', up to $50,000,000 may be transferred to, and merged with, funds made available in title I of this Act under the heading ``Capital Investment Fund''. (E) Prior consultation.--The transfer authorities provided by subparagraphs (B), (C), and (D) are in addition to any transfer authority otherwise available in this Act and under any other provision of law and the exercise of such authority shall be subject to prior consultation with the Committees on Appropriations. (2) United states agency for global media.--Not to exceed 5 percent of any appropriation made available for the current fiscal year for the United States Agency for Global Media under title I of this Act may be transferred between, and merged with, such appropriations, but no such appropriation, except as otherwise specifically provided, shall be increased by more than 10 percent by any such transfers. (3) Treatment as reprogramming.--Any transfer pursuant to this subsection shall be treated as a reprogramming of funds under section 7015 of this Act and shall not be available for obligation or expenditure except in compliance with the procedures set forth in that section. (b) Limitation on Transfers of Funds Between Agencies.-- (1) In general.--None of the funds made available under titles II through V of this Act may be transferred to any department, agency, or instrumentality of the United States Government, except pursuant to a transfer made by, or transfer authority provided in, this Act or any other appropriations Act. (2) Allocation and transfers.--Notwithstanding paragraph (1), in addition to transfers made by, or authorized elsewhere in, this Act, funds appropriated by this Act to carry out the purposes of the Foreign Assistance Act of 1961 may be allocated or transferred to agencies of the United States Government pursuant to the provisions of sections 109, 610, and 632 of the Foreign Assistance Act of 1961, and section 1434(j) of the BUILD Act of 2018 (division F of Public Law 115-254). (3) Notification.--Any agreement entered into by the United States Agency for International Development or the Department of State with any department, agency, or instrumentality of the United States Government pursuant to section 632(b) of the Foreign Assistance Act of 1961 valued in excess of $1,000,000 and any agreement made pursuant to section 632(a) of such Act, with funds appropriated by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs under the headings ``Global Health Programs'', ``Development Assistance'', ``Economic Support Fund'', and ``Assistance for Europe, Eurasia and Central Asia'' shall be subject to the regular notification procedures of the Committees on Appropriations: Provided, That the requirement in the previous sentence shall not apply to agreements entered into between USAID and the Department of State. (c) United States International Development Finance Corporation.-- (1) Transfers.--Amounts transferred pursuant to section 1434(j) of the BUILD Act of 2018 (division F of Public Law 115- 254) may only be transferred from funds made available under title III of this Act: Provided, That any such transfers, or any other amounts transferred to the United States International Development Finance Corporation (the Corporation) pursuant to any provision of law, shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations: Provided further, That the Secretary of State, the Administrator of the United States Agency for International Development, and the Chief Executive Officer of the Corporation, as appropriate, shall ensure that the programs funded by such transfers are coordinated with, and complement, foreign assistance programs implemented by the Department of State and USAID. (2) Transfer of funds from millennium challenge corporation.--Funds appropriated under the heading ``Millennium Challenge Corporation'' in this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs may be transferred to accounts under the heading ``United States International Development Finance Corporation'' and, when so transferred, may be used for the costs of activities described in subsections (b) and (c) of section 1421 of the BUILD Act of 2018: Provided, That such funds shall be subject to the limitations provided in the second, third, and fifth provisos under the heading ``United States International Development Finance Corporation--Program Account'' in this Act: Provided further, That any transfer executed pursuant to the transfer authority provided in this paragraph shall not exceed 10 percent of an individual Compact awarded pursuant to section 609(a) of the Millennium Challenge Act of 2003 (title VI of Public Law 108-199): Provided further, That such funds shall not be available for administrative expenses of the United States International Development Finance Corporation: Provided further, That such authority shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations: Provided further, That the transfer authority provided in this section is in addition to any other transfer authority provided by law: Provided further, That within 60 days of the termination in whole or in part of the Compact from which funds were transferred under this authority to the United States International Development Finance Corporation, any unobligated balances shall be transferred back to the Millennium Challenge Corporation, subject to the regular notification procedures of the Committees on Appropriations. (d) Transfer of Funds Between Accounts.--None of the funds made available under titles II through V of this Act may be obligated under an appropriations account to which such funds were not appropriated, except for transfers specifically provided for in this Act, unless the President, not less than 5 days prior to the exercise of any authority contained in the Foreign Assistance Act of 1961 to transfer funds, consults with and provides a written policy justification to the Committees on Appropriations. (e) Audit of Inter-Agency Transfers of Funds.--Any agreement for the transfer or allocation of funds appropriated by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs entered into between the Department of State or USAID and another agency of the United States Government under the authority of section 632(a) of the Foreign Assistance Act of 1961, or any comparable provision of law, shall expressly provide that the Inspector General (IG) for the agency receiving the transfer or allocation of such funds, or other entity with audit responsibility if the receiving agency does not have an IG, shall perform periodic program and financial audits of the use of such funds and report to the Department of State or USAID, as appropriate, upon completion of such audits: Provided, That such audits shall be transmitted to the Committees on Appropriations by the Department of State or USAID, as appropriate: Provided further, That funds transferred under such authority may be made available for the cost of such audits. prohibition and limitation on certain expenses Sec. 7010. (a) First-Class Travel.--None of the funds made available by this Act may be used for first-class travel by employees of United States Government departments and agencies funded by this Act in contravention of section 301-10.122 through 301-10.124 of title 41, Code of Federal Regulations. (b) Computer Networks.--None of the funds made available by this Act for the operating expenses of any United States Government department or agency may be used to establish or maintain a computer network for use by such department or agency unless such network has filters designed to block access to sexually explicit websites: Provided, That nothing in this subsection shall limit the use of funds necessary for any Federal, State, Tribal, or local law enforcement agency, or any other entity carrying out the following activities: criminal investigations, prosecutions, and adjudications; administrative discipline; and the monitoring of such websites undertaken as part of official business. (c) Prohibition on Promotion of Tobacco.--None of the funds made available by this Act should be available to promote the sale or export of tobacco or tobacco products (including electronic nicotine delivery systems), or to seek the reduction or removal by any foreign country of restrictions on the marketing of tobacco or tobacco products (including electronic nicotine delivery systems), except for restrictions which are not applied equally to all tobacco or tobacco products (including electronic nicotine delivery systems) of the same type. (d) Email Servers Outside the .gov Domain.--None of the funds appropriated by this Act under the headings ``Diplomatic Programs'' and ``Capital Investment Fund'' in title I, and ``Operating Expenses'' and ``Capital Investment Fund'' in title II that are made available to the Department of State and the United States Agency for International Development may be made available to support the use or establishment of email accounts or email servers created outside the .gov domain or not fitted for automated records management as part of a Federal government records management program in contravention of the Presidential and Federal Records Act Amendments of 2014 (Public Law 113-187). (e) Representation and Entertainment Expenses.--Each Federal department, agency, or entity funded in titles I or II of this Act, and the Department of the Treasury and independent agencies funded in titles III or VI of this Act, shall take steps to ensure that domestic and overseas representation and entertainment expenses further official agency business and United States foreign policy interests, and-- (1) are primarily for fostering relations outside of the Executive Branch; (2) are principally for meals and events of a protocol nature; (3) are not for employee-only events; and (4) do not include activities that are substantially of a recreational character. (f) Limitations on Entertainment Expenses.--None of the funds appropriated or otherwise made available by this Act under the headings ``International Military Education and Training'' or ``Foreign Military Financing Program'' for Informational Program activities or under the headings ``Global Health Programs'', ``Development Assistance'', ``Economic Support Fund'', and ``Assistance for Europe, Eurasia and Central Asia'' may be obligated or expended to pay for-- (1) alcoholic beverages; or (2) entertainment expenses for activities that are substantially of a recreational character, including entrance fees at sporting events, theatrical and musical productions, and amusement parks. assistance effectiveness and transparency Sec. 7011. (a) Strategy.-- (1) In general.--Not later than 180 days after the date of enactment of this Act, the Secretary of State and the Administrator of the United States Agency for International Development shall develop and submit to the appropriate congressional committees a multi-year strategy to improve the effectiveness of United States foreign assistance. (2) Elements.--The strategy required by this subsection shall include-- (A) methods used to determine the effectiveness of United States assistance; (B) analysis on using outcomes to inform the allocation of such assistance; (C) results of impact evaluations carried out within the prior 12 months and a plan for incorporating the results of such evaluations into the design of future programs funded by such assistance; and (D) estimated costs associated with implementation of the strategy. (3) Concurrent recommendations.--The Secretary and Administrator shall-- (A) convene a panel of experts and practitioners to make recommendations for the strategy required by this subsection; and (B) include all such recommendations in an appendix to the strategy whether or not they were incorporated into the strategy. (4) Consultation.--Not later than 45 days after the date of enactment of this Act, the Secretary and Administrator shall consult with the Committees on Appropriations on the requirements of this subsection. (b) Beneficiary Feedback.--Funds appropriated by this Act that are made available for monitoring and evaluation of assistance under the headings ``Development Assistance'', ``International Disaster Assistance'', and ``Migration and Refugee Assistance'' shall be made available for the regular and systematic collection of feedback obtained directly from beneficiaries to enhance the quality and relevance of such assistance: Provided, That the Secretary of State and USAID Administrator shall regularly conduct oversight to ensure that such feedback is collected and used by implementing partners to maximize the cost-effectiveness and utility of such assistance. (c) Evaluations.--Of the funds appropriated by this Act under titles III and IV, not less than $25,000,000, to remain available until expended, shall be made available for impact evaluations, including ex- post evaluations, of the effectiveness and sustainability of United States Government-funded assistance programs: Provided, That of the funds made available pursuant to this paragraph, $20,000,000 shall be administered in coordination with the Office of the Chief Economist, USAID, and may be used for administrative expenses of such Office: Provided further, That funds made available pursuant to this paragraph are in addition to funds otherwise made available for such purposes. (d) Notification Requirement.--An obligation in excess of $2,000,000 from deobligated balances of funds appropriated by prior Acts making appropriations for the Department of State, foreign operations, and related programs that remain available due to the exercise of the authority in section 7011 of such Acts shall be subject to the regular notification procedures of the Committees on Appropriations. (e) Foreign Assistance Website.--Funds appropriated by this Act under titles I and II, and funds made available for any independent agency in title III, as appropriate, shall be made available to support the provision of additional information on United States Government foreign assistance on the ``ForeignAssistance.gov'' website: Provided, That all Federal agencies funded under this Act shall provide such information on foreign assistance, upon request and in a timely manner, to the Department of State and the United States Agency for International Development. limitation on assistance to countries in default Sec. 7012. No part of any appropriation provided under titles III through VI in this Act shall be used to furnish assistance to the government of any country which is in default during a period in excess of 1 calendar year in payment to the United States of principal or interest on any loan made to the government of such country by the United States pursuant to a program for which funds are appropriated under this Act unless the President determines, following consultation with the Committees on Appropriations, that assistance for such country is in the national interest of the United States. prohibition on taxation of united states assistance Sec. 7013. (a) Prohibition on Taxation.--None of the funds appropriated under titles III through VI of this Act may be made available to provide assistance for a foreign country under a new bilateral agreement governing the terms and conditions under which such assistance is to be provided unless such agreement includes a provision stating that assistance provided by the United States shall be exempt from taxation, or reimbursed, by the foreign government, and the Secretary of State and the Administrator of the United States Agency for International Development shall expeditiously seek to negotiate amendments to existing bilateral agreements, as necessary, to conform with this requirement. (b) Notification and Reimbursement of Foreign Taxes.--An amount equivalent to 200 percent of the total taxes assessed during fiscal year 2025 on funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs by a foreign government or entity against United States assistance programs, either directly or through grantees, contractors, and subcontractors, shall be withheld from obligation from funds appropriated for assistance for fiscal year 2026 and for prior fiscal years and allocated for the central government of such country or for the West Bank and Gaza program, as applicable, if, not later than September 30, 2026, such taxes have not been reimbursed. (c) De Minimis Exception.--Foreign taxes of a de minimis nature shall not be subject to the provisions of subsection (b). (d) Reprogramming of Funds.--Funds withheld from obligation for each foreign government or entity pursuant to subsection (b) shall be reprogrammed for assistance for countries which do not assess taxes on United States assistance or which have an effective arrangement that is providing substantial reimbursement of such taxes, and that can reasonably accommodate such assistance in a programmatically responsible manner. (e) Determinations.-- (1) In general.--The provisions of this section shall not apply to any foreign government or entity that assesses such taxes if the Secretary of State reports to the Committees on Appropriations that-- (A) such foreign government or entity has an effective arrangement that is providing substantial reimbursement of such taxes; or (B) the foreign policy interests of the United States outweigh the purpose of this section to ensure that United States assistance is not subject to taxation. (2) Consultation.--The Secretary of State shall consult with the Committees on Appropriations at least 15 days prior to exercising the authority of this subsection with regard to any foreign government or entity. (f) Implementation.--The Secretary of State shall issue and update rules, regulations, or policy guidance, as appropriate, to implement the prohibition against the taxation of assistance contained in this section. (g) Definitions.--As used in this section: (1) Bilateral agreement.--The term ``bilateral agreement'' refers to a framework bilateral agreement between the Government of the United States and the government of the country receiving assistance that describes the privileges and immunities applicable to United States foreign assistance for such country generally, or an individual agreement between the Government of the United States and such government that describes, among other things, the treatment for tax purposes that will be accorded the United States assistance provided under that agreement. (2) Taxes and taxation.--The term ``taxes and taxation'' shall include value added taxes and customs duties but shall not include individual income taxes assessed to local staff. reservations of funds Sec. 7014. (a) Extension of Availability.--The original period of availability of funds appropriated by this Act and administered by the Department of State or the United States Agency for International Development that are specifically designated for particular programs or activities by this or any other Act may be extended for an additional fiscal year if the Secretary of State or the USAID Administrator, as appropriate, determines and reports promptly to the Committees on Appropriations that the termination of assistance to a country or a significant change in circumstances makes it unlikely that such designated funds can be obligated during the original period of availability: Provided, That such designated funds that continue to be available for an additional fiscal year shall be obligated only for the purpose of such designation. (b) Other Acts.--Ceilings and specifically designated funding levels contained in this Act shall not be applicable to funds or authorities appropriated or otherwise made available by any subsequent Act unless such Act specifically so directs: Provided, That specifically designated funding levels or minimum funding requirements contained in any other Act shall not be applicable to funds appropriated by this Act. notification requirements Sec. 7015. (a) Notification of Changes in Programs, Projects, and Activities.--None of the funds made available in titles I, II, and VI, and under the headings ``Peace Corps'' and ``Millennium Challenge Corporation'', of this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs to the departments and agencies funded by this Act that remain available for obligation in fiscal year 2025, or provided from any accounts in the Treasury of the United States derived by the collection of fees or of currency reflows or other offsetting collections, or made available by transfer, to the departments and agencies funded by this Act, shall be available for obligation to-- (1) create new programs; (2) suspend or eliminate a program, project, or activity; (3) close, suspend, open, or reopen a mission or post; (4) create, close, reorganize, downsize, or rename bureaus, centers, or offices; or (5) contract out or privatize any functions or activities presently performed by Federal employees; unless previously justified to the Committees on Appropriations or such Committees are notified 15 days in advance of such obligation. (b) Notification of Reprogramming of Funds.--None of the funds provided under titles I, II, and VI of this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs, to the departments and agencies funded under such titles that remain available for obligation in fiscal year 2025, or provided from any accounts in the Treasury of the United States derived by the collection of fees available to the department and agency funded under title I of this Act, shall be available for obligation or expenditure for programs, projects, or activities through a reprogramming of funds in excess of $1,000,000 or 10 percent, whichever is less, that-- (1) augments or changes existing programs, projects, or activities; (2) relocates an existing office or employees; (3) reduces by 10 percent funding for any existing program, project, or activity, or numbers of personnel by 10 percent as approved by Congress; or (4) results from any general savings, including savings from a reduction in personnel, which would result in a change in existing programs, projects, or activities as approved by Congress; unless the Committees on Appropriations are notified 15 days in advance of such reprogramming of funds. (c) Notification Requirement.--None of the funds made available by this Act under the headings ``Global Health Programs'', ``Development Assistance'', ``Economic Support Fund'', ``Democracy Fund'', ``Assistance for Europe, Eurasia and Central Asia'', ``Peace Corps'', ``Millennium Challenge Corporation'', ``International Narcotics Control and Law Enforcement'', ``Nonproliferation, Anti-terrorism, Demining and Related Programs'', ``Peacekeeping Operations'', ``International Military Education and Training'', ``Foreign Military Financing Program'', ``United States International Development Finance Corporation'', and ``Trade and Development Agency'' shall be available for obligation for programs, projects, activities, type of materiel assistance, countries, or other operations not justified or in excess of the amount justified to the Committees on Appropriations for obligation under any of these specific headings unless the Committees on Appropriations are notified 15 days in advance of such obligation: Provided, That the President shall not enter into any commitment of funds appropriated for the purposes of section 23 of the Arms Export Control Act for the provision of major defense equipment, other than conventional ammunition, or other major defense items defined to be aircraft, ships, missiles, or combat vehicles, not previously justified to Congress or 20 percent in excess of the quantities justified to Congress unless the Committees on Appropriations are notified 15 days in advance of such commitment: Provided further, That requirements of this subsection or any similar provision of this or any other Act shall not apply to any reprogramming for a program, project, or activity for which funds are appropriated under titles III through VI of this Act of less than 10 percent of the amount previously justified to Congress for obligation for such program, project, or activity for the current fiscal year: Provided further, That any notification submitted pursuant to subsection (f) of this section shall include information (if known on the date of transmittal of such notification) on the use of notwithstanding authority. (d) Department of Defense Programs and Funding Notifications.-- (1) Programs.--None of the funds appropriated by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available to support or continue any program initially funded under any authority of title 10, United States Code, or any Act making or authorizing appropriations for the Department of Defense, unless the Secretary of State, in consultation with the Secretary of Defense and in accordance with the regular notification procedures of the Committees on Appropriations, submits a justification to such Committees that includes a description of, and the estimated costs associated with, the support or continuation of such program. (2) Funding.--Notwithstanding any other provision of law, funds transferred by the Department of Defense to the Department of State and the United States Agency for International Development for assistance for foreign countries and international organizations shall be subject to the regular notification procedures of the Committees on Appropriations. (3) Notification on excess defense articles.--Prior to providing excess Department of Defense articles in accordance with section 516(a) of the Foreign Assistance Act of 1961, the Department of Defense shall notify the Committees on Appropriations to the same extent and under the same conditions as other committees pursuant to subsection (f) of that section: Provided, That before issuing a letter of offer to sell excess defense articles under the Arms Export Control Act, the Department of Defense shall notify the Committees on Appropriations in accordance with the regular notification procedures of such Committees if such defense articles are significant military equipment (as defined in section 47(9) of the Arms Export Control Act) or are valued (in terms of original acquisition cost) at $7,000,000 or more, or if notification is required elsewhere in this Act for the use of appropriated funds for specific countries that would receive such excess defense articles: Provided further, That such Committees shall also be informed of the original acquisition cost of such defense articles. (e) Waiver.--The requirements of this section or any similar provision of this Act or any other Act, including any prior Act requiring notification in accordance with the regular notification procedures of the Committees on Appropriations, may be waived if failure to do so would pose a substantial risk to human health or welfare: Provided, That in case of any such waiver, notification to the Committees on Appropriations shall be provided as early as practicable, but in no event later than 3 days after taking the action to which such notification requirement was applicable, in the context of the circumstances necessitating such waiver: Provided further, That any notification provided pursuant to such a waiver shall contain an explanation of the emergency circumstances. (f) Country Notification Requirements.--None of the funds appropriated under titles III through VI of this Act may be obligated or expended for assistance for Afghanistan, Burma, Cambodia, Colombia, Cuba, El Salvador, Ethiopia, Guatemala, Haiti, Honduras, Iran, Iraq, Lebanon, Libya, Mexico, Nicaragua, Pakistan, the Russian Federation, Somalia, South Africa, South Sudan, Sudan, Syria, Tunisia, Ukraine, Venezuela, Yemen, and Zimbabwe except as provided through the regular notification procedures of the Committees on Appropriations. (g) Trust Funds.--Funds appropriated or otherwise made available in title III of this Act and prior Acts making funds available for the Department of State, foreign operations, and related programs that are made available for a trust fund held by an international financial institution shall be subject to the regular notification procedures of the Committees on Appropriations, and such notification shall include the information specified under this section in the report accompanying this Act. (h) Other Program Notification Requirements.-- (1) Other programs.--Funds appropriated by this Act that are made available for the following programs and activities shall be subject to the regular notification procedures of the Committees on Appropriations: (A) the Global Engagement Center; (B) the Power Africa and Prosper Africa initiatives; (C) funds made available under the headings ``International Disaster Assistance'' and ``Migration and Refugee Assistance'' that are made available to a country listed in section 7007 of this Act; (D) the Prevention and Stabilization Fund and the Multi-Donor Global Fragility Fund; (E) the Countering PRC Influence Fund and the Countering Russian Influence Fund; (F) assistance made available pursuant to section 7059 of this Act; and (G) funds specifically allocated for the Partnership for Global Infrastructure and Investment. (2) Democracy program policy and procedures.--Modifications to democracy program policy and procedures, including relating to the use of consortia, by the Department of State and USAID shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. (3) Arms sales.--The reports, notifications, and certifications, and any other documents, required to be submitted pursuant to section 36(a) of the Arms Export Control Act (22 U.S.C. 2776), and such documents submitted pursuant to section 36(b) through (d) of such Act with respect to countries that have received assistance provided with funds appropriated by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs, shall be concurrently submitted to the Committees on Appropriations and shall include information about the source of funds for any sale or transfer, as applicable, if known at the time of submission. (i) Withholding of Funds.--Funds appropriated by this Act under titles III and IV that are withheld from obligation or otherwise not programmed as a result of application of a provision of law in this or any other Act shall, if reprogrammed, be subject to the regular notification procedures of the Committees on Appropriations. (j) Requirement to Inform.--The Secretary of State and USAID Administrator, as applicable, shall promptly inform the appropriate congressional committees of each instance in which funds appropriated by this Act for assistance have been diverted or destroyed, to include the type and amount of assistance, a description of the incident and parties involved, and an explanation of the response of the Department of State or USAID, as appropriate. documents, report posting, records management, and related cybersecurity protections Sec. 7016. (a) Document Requests.--None of the funds appropriated or made available pursuant to titles III through VI of this Act shall be available to a nongovernmental organization, including any contractor, which fails to provide upon timely request any document, file, or record necessary to the auditing requirements of the Department of State and the United States Agency for International Development. (b) Public Posting of Reports.-- (1) Except as provided in paragraphs (2) and (3), any report required by this Act to be submitted to Congress by any Federal agency receiving funds made available by this Act shall be posted on the public website of such agency not later than 45 days following the receipt of such report by Congress. (2) Paragraph (1) shall not apply to a report if-- (A) the head of such agency determines and reports to the Committees on Appropriations in the transmittal letter accompanying such report that-- (i) the public posting of the report would compromise national security, including the conduct of diplomacy; or (ii) the report contains proprietary or other privileged information; or (B) the public posting of the report is specifically exempted in the report accompanying this Act. (3) The agency posting such report shall do so only after the report has been made available to the Committees on Appropriations. (4) The head of the agency posting such report shall do so in a central location on the public website of such agency. (c) Records Management and Related Cybersecurity Protections.--The Secretary of State and USAID Administrator shall-- (1) regularly review and update the policies, directives, and oversight necessary to comply with Federal statutes, regulations, and presidential executive orders and memoranda concerning the preservation of all records made or received in the conduct of official business, including record emails, instant messaging, and other online tools; (2) use funds appropriated by this Act under the headings ``Diplomatic Programs'' and ``Capital Investment Fund'' in title I, and ``Operating Expenses'' and ``Capital Investment Fund'' in title II, as appropriate, to improve Federal records management pursuant to the Federal Records Act (44 U.S.C. Chapters 21, 29, 31, and 33) and other applicable Federal records management statutes, regulations, or policies for the Department of State and USAID; (3) direct departing employees, including senior officials, that all Federal records generated by such employees belong to the Federal Government; (4) substantially reduce, compared to the previous fiscal year, the response time for identifying and retrieving Federal records, including requests made pursuant to section 552 of title 5, United States Code (commonly known as the ``Freedom of Information Act''); and (5) strengthen cybersecurity measures to mitigate vulnerabilities, including those resulting from the use of personal email accounts or servers outside the .gov domain, improve the process to identify and remove inactive user accounts, update and enforce guidance related to the control of national security information, and implement the recommendations of the applicable reports of the cognizant Office of Inspector General. use of funds in contravention of this act Sec. 7017. If the President makes a determination not to comply with any provision of this Act on constitutional grounds, the head of the relevant Federal agency shall notify the Committees on Appropriations in writing within 5 days of such determination, the basis for such determination and any resulting changes to program or policy. prohibition on funding for abortions and involuntary sterilization Sec. 7018. None of the funds made available to carry out part I of the Foreign Assistance Act of 1961, as amended, may be used to pay for the performance of abortions as a method of family planning or to motivate or coerce any person to practice abortions. None of the funds made available to carry out part I of the Foreign Assistance Act of 1961, as amended, may be used to pay for the performance of involuntary sterilization as a method of family planning or to coerce or provide any financial incentive to any person to undergo sterilizations. None of the funds made available to carry out part I of the Foreign Assistance Act of 1961, as amended, may be used to pay for any biomedical research which relates in whole or in part, to methods of, or the performance of, abortions or involuntary sterilization as a means of family planning. None of the funds made available to carry out part I of the Foreign Assistance Act of 1961, as amended, may be obligated or expended for any country or organization if the President certifies that the use of these funds by any such country or organization would violate any of the above provisions related to abortions and involuntary sterilizations. allocations and reports Sec. 7019. (a) Allocation Tables.--Subject to subsection (b), funds appropriated by this Act under titles III through V shall be made available in the amounts specifically designated in the respective tables included in the report accompanying this Act: Provided, That such designated amounts for foreign countries and international organizations shall serve as the amounts for such countries and international organizations transmitted to Congress in the report required by section 653(a) of the Foreign Assistance Act of 1961, and shall be made available for such foreign countries and international organizations notwithstanding the date of the transmission of such report. (b) Authorized Deviations.--Unless otherwise provided for by this Act, the Secretary of State and the Administrator of the United States Agency for International Development, as applicable, may only deviate up to 5 percent from the amounts specifically designated in the respective tables included in the report accompanying this Act. (c) Limitation.--For specifically designated amounts that are included, pursuant to subsection (a), in the report required by section 653(a) of the Foreign Assistance Act of 1961, deviations authorized by subsection (b) may only take place after submission of such report. (d) Exceptions.--Subsections (a) and (b) shall not apply to-- (1) funds for which the initial period of availability has expired; and (2) amounts designated by this Act as minimum funding requirements. (e) Reports.--The Secretary of State, USAID Administrator, and other designated officials, as appropriate, shall submit the reports required, in the manner described, in the report accompanying this Act. (f) Clarification.--Funds appropriated by this Act under the headings ``International Disaster Assistance'' and ``Migration and Refugee Assistance'' shall not be included for purposes of meeting amounts designated for countries in this Act, unless such headings are specifically designated as the source of funds. multi-year pledges Sec. 7020. None of the funds appropriated or otherwise made available by this Act may be used to make any pledge for future year funding for any multilateral or bilateral program funded in titles III through VI of this Act unless such pledge was: (1) previously justified, including the projected future year costs, in a congressional budget justification; (2) included in an Act making appropriations for the Department of State, foreign operations, and related programs or previously authorized by an Act of Congress; (3) notified in accordance with the regular notification procedures of the Committees on Appropriations, including the projected future year costs; or (4) the subject of prior consultation with the Committees on Appropriations and such consultation was conducted at least 7 days in advance of the pledge. prohibition on assistance to governments supporting international terrorism Sec. 7021. (a) Lethal Military Equipment Exports.-- (1) Prohibition.--None of the funds appropriated or otherwise made available under titles III through VI of this Act may be made available to any foreign government which provides lethal military equipment to a country the government of which the Secretary of State has determined supports international terrorism for purposes of section 1754(c) of the Export Reform Control Act of 2018 (50 U.S.C. 4813(c)): Provided, That the prohibition under this section with respect to a foreign government shall terminate 12 months after that government ceases to provide such military equipment: Provided further, That this section applies with respect to lethal military equipment provided under a contract entered into after October 1, 1997. (2) Determination.--Assistance restricted by paragraph (1) or any other similar provision of law, may be furnished if the President determines that to do so is important to the national interest of the United States. (3) Report.--Whenever the President makes a determination pursuant to paragraph (2), the President shall submit to the Committees on Appropriations a report with respect to the furnishing of such assistance, including a detailed explanation of the assistance to be provided, the estimated dollar amount of such assistance, and an explanation of how the assistance furthers the United States national interest. (b) Bilateral Assistance.-- (1) Limitations.--Funds appropriated for bilateral assistance in titles III through VI of this Act and funds appropriated under any such title in prior Acts making appropriations for the Department of State, foreign operations, and related programs, shall not be made available to any foreign government which the President determines-- (A) grants sanctuary from prosecution to any individual or group which has committed an act of international terrorism; (B) otherwise supports international terrorism; or (C) is controlled by an organization designated as a terrorist organization under section 219 of the Immigration and Nationality Act (8 U.S.C. 1189). (2) Waiver.--The President may waive the application of paragraph (1) to a government if the President determines that national security or humanitarian reasons justify such waiver: Provided, That the President shall publish each such waiver in the Federal Register and, at least 15 days before the waiver takes effect, shall notify the Committees on Appropriations of the waiver (including the justification for the waiver) in accordance with the regular notification procedures of the Committees on Appropriations. authorization requirements Sec. 7022. Funds appropriated by this Act, except funds appropriated under the heading ``Trade and Development Agency'', may be obligated and expended notwithstanding section 10 of Public Law 91-672 (22 U.S.C. 2412), section 15 of the State Department Basic Authorities Act of 1956 (22 U.S.C. 2680), section 313 of the Foreign Relations Authorization Act, Fiscal Years 1994 and 1995 (22 U.S.C. 6212), and section 504(a)(1) of the National Security Act of 1947 (50 U.S.C. 3094(a)(1)). definition of program, project, and activity Sec. 7023. For the purpose of titles II through VI of this Act, ``program, project, and activity'' shall be defined at the appropriations Act account level and shall include all appropriations and authorizations Acts funding directives, ceilings, and limitations with the exception that for the ``Economic Support Fund'', ``Assistance for Europe, Eurasia and Central Asia'', and ``Foreign Military Financing Program'' accounts, ``program, project, and activity'' shall also be considered to include country, regional, and central program level funding within each such account, and for the development assistance accounts of the United States Agency for International Development, ``program, project, and activity'' shall also be considered to include central, country, regional, and program level funding, either as-- (1) justified to Congress; or (2) allocated by the Executive Branch in accordance with the report required by section 653(a) of the Foreign Assistance Act of 1961 or as modified pursuant to section 7019 of this Act. authorities for the peace corps, inter-american foundation, and united states african development foundation Sec. 7024. Unless expressly provided to the contrary, provisions of this or any other Act, including provisions contained in prior Acts authorizing or making appropriations for the Department of State, foreign operations, and related programs, shall not be construed to prohibit activities authorized by or conducted under the Peace Corps Act, the Inter-American Foundation Act, or the African Development Foundation Act: Provided, That prior to conducting activities in a country for which assistance is prohibited, the agency shall consult with the Committees on Appropriations and report to such Committees within 15 days of taking such action. commerce, trade and surplus commodities Sec. 7025. (a) World Markets.--None of the funds appropriated or made available pursuant to titles III through VI of this Act for direct assistance and none of the funds otherwise made available to the Export-Import Bank and the United States International Development Finance Corporation shall be obligated or expended to finance any loan, any assistance, or any other financial commitments for establishing or expanding production of any commodity for export by any country other than the United States, if the commodity is likely to be in surplus on world markets at the time the resulting productive capacity is expected to become operative and if the assistance will cause substantial injury to United States producers of the same, similar, or competing commodity: Provided, That such prohibition shall not apply to the Export-Import Bank if in the judgment of its Board of Directors the benefits to industry and employment in the United States are likely to outweigh the injury to United States producers of the same, similar, or competing commodity, and the Chairman of the Board so notifies the Committees on Appropriations: Provided further, That this subsection shall not prohibit-- (1) activities in a country that is eligible for assistance from the International Development Association, is not eligible for assistance from the International Bank for Reconstruction and Development, and does not export on a consistent basis the agricultural commodity with respect to which assistance is furnished; or (2) activities in a country the President determines is recovering from widespread conflict, a humanitarian crisis, or a complex emergency. (b) Exports.--None of the funds appropriated by this or any other Act to carry out chapter 1 of part I of the Foreign Assistance Act of 1961 shall be available for any testing or breeding feasibility study, variety improvement or introduction, consultancy, publication, conference, or training in connection with the growth or production in a foreign country of an agricultural commodity for export which would compete with a similar commodity grown or produced in the United States: Provided, That this subsection shall not prohibit-- (1) activities designed to increase food security in developing countries where such activities will not have a significant impact on the export of agricultural commodities of the United States; (2) research activities intended primarily to benefit United States producers; (3) activities in a country that is eligible for assistance from the International Development Association, is not eligible for assistance from the International Bank for Reconstruction and Development, and does not export on a consistent basis the agricultural commodity with respect to which assistance is furnished; or (4) activities in a country the President determines is recovering from widespread conflict, a humanitarian crisis, or a complex emergency. (c) International Financial Institutions.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice and vote of the United States to oppose any assistance by such institution, using funds appropriated or otherwise made available by this Act, for the production or extraction of any commodity or mineral for export, if it is in surplus on world markets and if the assistance will cause substantial injury to United States producers of the same, similar, or competing commodity. separate accounts Sec. 7026. (a) Separate Accounts for Local Currencies.-- (1) Agreements.--If assistance is furnished to the government of a foreign country under chapters 1 and 10 of part I or chapter 4 of part II of the Foreign Assistance Act of 1961 under agreements which result in the generation of local currencies of that country, the Administrator of the United States Agency for International Development shall-- (A) require that local currencies be deposited in a separate account established by that government; (B) enter into an agreement with that government which sets forth-- (i) the amount of the local currencies to be generated; and (ii) the terms and conditions under which the currencies so deposited may be utilized, consistent with this section; and (C) establish by agreement with that government the responsibilities of USAID and that government to monitor and account for deposits into and disbursements from the separate account. (2) Uses of local currencies.--As may be agreed upon with the foreign government, local currencies deposited in a separate account pursuant to subsection (a), or an equivalent amount of local currencies, shall be used only-- (A) to carry out chapter 1 or 10 of part I or chapter 4 of part II of the Foreign Assistance Act of 1961 (as the case may be), for such purposes as-- (i) project and sector assistance activities; or (ii) debt and deficit financing; or (B) for the administrative requirements of the United States Government. (3) Programming accountability.--USAID shall take all necessary steps to ensure that the equivalent of the local currencies disbursed pursuant to subsection (a)(2)(A) from the separate account established pursuant to subsection (a)(1) are used for the purposes agreed upon pursuant to subsection (a)(2). (4) Termination of assistance programs.--Upon termination of assistance to a country under chapter 1 or 10 of part I or chapter 4 of part II of the Foreign Assistance Act of 1961 (as the case may be), any unencumbered balances of funds which remain in a separate account established pursuant to subsection (a) shall be disposed of for such purposes as may be agreed to by the government of that country and the United States Government. (b) Separate Accounts for Cash Transfers.-- (1) In general.--If assistance is made available to the government of a foreign country, under chapter 1 or 10 of part I or chapter 4 of part II of the Foreign Assistance Act of 1961, as cash transfer assistance or as nonproject sector assistance, that country shall be required to maintain such funds in a separate account and not commingle with any other funds. (2) Applicability of other provisions of law.--Such funds may be obligated and expended notwithstanding provisions of law which are inconsistent with the nature of this assistance, including provisions which are referenced in the Joint Explanatory Statement of the Committee of Conference accompanying House Joint Resolution 648 (House Report No. 98- 1159). (3) Notification.--At least 15 days prior to obligating any such cash transfer or nonproject sector assistance, the President shall submit a notification through the regular notification procedures of the Committees on Appropriations, which shall include a detailed description of how the funds proposed to be made available will be used, with a discussion of the United States interests that will be served by such assistance (including, as appropriate, a description of the economic policy reforms that will be promoted by such assistance). (4) Exemption.--Nonproject sector assistance funds may be exempt from the requirements of paragraph (1) only through the regular notification procedures of the Committees on Appropriations. eligibility for assistance Sec. 7027. (a) Assistance Through Nongovernmental Organizations.-- Restrictions contained in this or any other Act with respect to assistance for a country shall not be construed to restrict assistance in support of programs of nongovernmental organizations from funds appropriated by this Act to carry out the provisions of chapters 1, 10, 11, and 12 of part I and chapter 4 of part II of the Foreign Assistance Act of 1961 and from funds appropriated under the heading ``Assistance for Europe, Eurasia and Central Asia'': Provided, That before using the authority of this subsection to furnish assistance in support of programs of nongovernmental organizations, the President shall notify the Committees on Appropriations pursuant to the regular notification procedures, including a description of the program to be assisted, the assistance to be provided, and the reasons for furnishing such assistance: Provided further, That nothing in this subsection shall be construed to alter any existing statutory prohibitions against abortion or involuntary sterilizations contained in this or any other Act. (b) Public Law 480.--During fiscal year 2025, restrictions contained in this or any other Act with respect to assistance for a country shall not be construed to restrict assistance under the Food for Peace Act (Public Law 83-480; 7 U.S.C. 1721 et seq.): Provided, That none of the funds appropriated to carry out title I of such Act and made available pursuant to this subsection may be obligated or expended except as provided through the regular notification procedures of the Committees on Appropriations. (c) Exception.--This section shall not apply-- (1) with respect to section 620A of the Foreign Assistance Act of 1961 or any comparable provision of law prohibiting assistance to countries that support international terrorism; or (2) with respect to section 116 of the Foreign Assistance Act of 1961 or any comparable provision of law prohibiting assistance to the government of a country that violates internationally recognized human rights. promotion of united states economic interests Sec. 7028. (a) Diplomatic Engagement.--Consistent with section 704 of the Championing American Business Through Diplomacy Act of 2019 (title VII of division J of Public Law 116-94), the Secretary of State, in consultation with the Secretary of Commerce, shall prioritize the allocation of funds appropriated by this Act under the heading ``Diplomatic Programs'' for support of Chief of Mission diplomatic engagement to foster commercial relations and safeguard United States economic and business interests in the country in which each Chief of Mission serves, including activities and initiatives to create and maintain an enabling environment, promote and protect such interests, and resolve commercial disputes: Provided, That each Mission Resource Request and Bureau Resource Request shall include amounts required to prioritize the activities described in this subsection. (b) Training.--In carrying out section 705 of title VII of division J of Public Law 116-94, the Secretary of State shall annually assess training needs across the economic and commercial diplomacy issue areas and ensure, after a review of course offerings, course attendance records, and course evaluation results, that current offerings meet training needs. (c) Assistance.--The Secretary of State should direct each Chief of Mission to consider how best to advance and support commercial relations and the safeguarding of United States business interests in the development and execution of the applicable Integrated Country Strategy and the Mission Resource Request for each country receiving bilateral assistance from funds appropriated by this Act. international financial institutions Sec. 7029. (a) Compensation.--None of the funds appropriated under title V of this Act may be made as payment to any international financial institution while the United States executive director to such institution is compensated by the institution at a rate which, together with whatever compensation such executive director receives from the United States, is in excess of the rate provided for an individual occupying a position at level IV of the Executive Schedule under section 5315 of title 5, United States Code, or while any alternate United States executive director to such institution is compensated by the institution at a rate in excess of the rate provided for an individual occupying a position at level V of the Executive Schedule under section 5316 of title 5, United States Code. (b) Human Rights.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice and vote of the United States to promote human rights due diligence and risk management, as appropriate, in connection with any loan, grant, policy, or strategy of such institution. (c) Fraud and Corruption.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice of the United States to include in loan, grant, and other financing agreements improvements in borrowing countries' financial management and judicial capacity to investigate, prosecute, and punish fraud and corruption. (d) Beneficial Ownership Information.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice of the United States to encourage such institution to collect, verify, and publish, to the maximum extent practicable, beneficial ownership information (excluding proprietary information) for any corporation or limited liability company, other than a publicly listed company, that receives funds from any such financial institution. (e) Whistleblower Protections.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice of the United States to encourage such institution to effectively implement and enforce policies and procedures which meet or exceed best practices in the United States for the protection of whistleblowers from retaliation, including-- (1) protection against retaliation for internal and lawful public disclosure; (2) legal burdens of proof; (3) statutes of limitation for reporting retaliation; (4) access to binding independent adjudicative bodies, including shared cost and selection external arbitration; and (5) results that eliminate the effects of proven retaliation, including provision for the restoration of prior employment. (f) Grievance Mechanisms and Procedures.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice of the United States to support independent investigative and adjudicative mechanisms and procedures that meet or exceed best practices in the United States to provide due process and fair compensation, including the right to reinstatement, for employees who are subjected to harassment, discrimination, retaliation, false allegations, or other misconduct. (g) Capital Increases.--None of the funds appropriated by this Act may be made available to support a new capital increase for an international financial institution unless the President submits a budget request for such increase to Congress and the Secretary of the Treasury concurrent with such request determines and reports to the Committees on Appropriations that-- (1) the institution has completed a thorough analysis of the development challenges facing the relevant geographical region, the role of the institution in addressing such challenges and its role relative to other financing partners, and the steps to be taken to enhance the efficiency and effectiveness of the institution; (2) the capital increase does not increase the voting power of the People's Republic of China in such institution; and (3) the governors of such institution have approved the capital increase. (h) Opposition to Lending to the People's Republic of China.--The Secretary of the Treasury shall instruct the United States executive director at each multilateral development bank to use the voice and vote of the United States to oppose any loan, extension of financial assistance, or technical assistance by such bank to the People's Republic of China. (i) Contributions to Financial Intermediary Funds.--The Secretary of the Treasury shall ensure that no United States contribution to a financial intermediary fund overseen by the Department of the Treasury may be used to provide any loan, extension of financial assistance, or technical assistance to the People's Republic of China or to any country or region subject to comprehensive sanctions by the United States. (j) Report to Congress and Withholding.-- (1) Not later than 120 days after the date of enactment of this Act, the Secretary of the Treasury shall submit a report to the Committees on Appropriations indicating the amount of funds that a financial intermediary fund is budgeting for the year in which the report is submitted for a country or region described in subsection (i). (2) If a report under paragraph (1) indicates that a financial intermediary fund plans to spend funds for a country or region described under subsection (i), including through projects implemented by a multilateral development bank, then 10 percent of the United States contribution to such bank shall be withheld from obligation for the remainder of the fiscal year in which the report is submitted. (k) Guidance on Multilateral Development Banks.--None of the funds appropriated or otherwise made available by this Act under the heading ``Multilateral Assistance'' may be used to implement, administer, or otherwise carry out Executive Order 14008 (relating to Executive Order on Tackling the Climate Crisis at Home and Abroad), including the memorandum entitled ``Guidance on Fossil Fuel Energy at the Multilateral Development Banks'', issued by the Department of the Treasury on August 16, 2021. economic resilience initiative Sec. 7030. (a) Assistance.--Funds appropriated by this Act under the heading ``Economic Support Fund'' shall be made available for the Economic Resilience Initiative to enhance the economic security and stability of the United States and partner countries, including through efforts to counter economic coercion: Provided, That funds made available by this subsection may only be made available following consultation with, and the regular notification procedures of, the Committees on Appropriations, and shall include-- (1) strategic infrastructure investments, which shall be administered by the Secretary of State in consultation with the heads of other relevant Federal agencies: Provided, That such funds may be transferred to, and merged with, funds appropriated by this Act to the Export-Import Bank of the United States under the heading ``Program Account'', to the United States International Development Finance Corporation under the heading ``Corporate Capital Account'', and under the heading ``Trade and Development Agency'': Provided further, That such transfer authority is in addition to any other transfer authority provided by this Act or any other Act, and is subject to the regular notification procedures of the Committees on Appropriations; (2) activities to enhance critical mineral supply chain security, except that 50 percent of funds made available for such activities shall utilize United States-based entities following the submission of the report required under this subsection in the report accompanying this Act; (3) economic resilience programs administered by the Administrator of the United States Agency for International Development; and (4) the Cyberspace, Digital Connectivity, and Related Technologies Fund in accordance with Chapter 10 of Part II of the Foreign Assistance Act of 1961: Provided, That the authority of section 592(f) of such Act may apply to amounts made available for such Fund under the heading ``Economic Support Fund'' and such funds may be made available for the Digital Connectivity and Cybersecurity Partnership program consistent with section 6306 of the Department of State Authorization Act of 2023 (division F of Public Law 118-31): Provided further, That funds made available pursuant to this paragraph are in addition to funds otherwise made available for such purposes and shall be coordinated with the USAID Administrator, including for relevant USAID programming. (b) Loan Guarantees.--Funds appropriated under the headings ``Economic Support Fund'' and ``Assistance for Europe, Eurasia and Central Asia'' by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs, including funds made available pursuant to this section, may be made available for the costs, as defined in section 502 of the Congressional Budget Act of 1974, of loan guarantees for Costa Rica, Egypt, Jordan, Panama, Small Island Developing States, and Ukraine, which are authorized to be provided and which shall be administered by the United States Agency for International Development unless otherwise provided for by this Act or any other provision of law: Provided, That amounts made available under this subsection for the costs of such guarantees shall not be considered assistance for the purposes of provisions of law limiting assistance to a country: Provided further, That funds made available pursuant to the authorities of this subsection shall be subject to prior consultation with the appropriate congressional committees and the regular notification procedures of the Committees on Appropriations. (c) CHIPS for America International Technology Security and Innovation Fund.-- (1) Within 45 days of enactment of this Act, the Secretary of State shall allocate amounts made available from the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America International Technology Security and Innovation Fund for fiscal year 2025 pursuant to the transfer authority in section 102(c)(1) of the CHIPS Act of 2022 (division A of Public Law 117-167), to the accounts specified and in the amounts specified, in the table titled ``CHIPS for America International Technology Security and Innovation Fund'' in the report accompanying this Act: Provided, That such funds shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. (2) Neither the President nor his designee may allocate any amounts that are made available for any fiscal year under section 102(c)(2) of the CHIPS Act of 2022 if there is in effect an Act making or continuing appropriations for part of a fiscal year for the Department of State, Foreign Operations, and Related Programs: Provided, That in any fiscal year, the matter preceding this proviso shall not apply to the allocation, apportionment, or allotment of amounts for continuing administration of programs allocated using funds transferred from the CHIPS for America International Technology Security and Innovation Fund, which may be allocated pursuant to the transfer authority in section 102(c)(1) of the CHIPS Act of 2022 only in amounts that are no more than the allocation for such purposes in paragraph (1) of this subsection. (3) Concurrent with the annual budget submission of the President for fiscal year 2026, the Secretary of State shall submit to the Committees on Appropriations proposed allocations by account and by program, project, or activity, with detailed justifications, for amounts made available under section 102(c)(2) of the CHIPS Act of 2022 for fiscal year 2026. (4) The Secretary of State shall provide the Committees on Appropriations quarterly reports on the status of balances of projects and activities funded by the CHIPS for America International Technology Security and Innovation Fund for amounts allocated pursuant to paragraph (1) of this subsection, including all uncommitted, committed, and unobligated funds. (5) Amounts transferred to the Export-Import Bank and the United States International Development Finance Corporation pursuant to the transfer authority in section 102(c)(1) of the CHIPS Act of 2022 (division A of Public Law 117-167) may be made available for the costs of direct loans and loan guarantees, including the cost of modifying such loans, as defined in section 502 of the Congressional Budget Act of 1974. financial management, budget transparency, and anti-corruption Sec. 7031. (a) Limitation on Direct Government-to-Government Assistance.-- (1) Requirements.--Funds appropriated by this Act may be made available for direct government-to-government assistance only if-- (A) the requirements included in section 7031(a)(1)(A) through (E) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2019 (division F of Public Law 116-6) are fully met; and (B) the government of the recipient country is taking steps to reduce corruption. (2) Consultation and notification.--In addition to the requirements in paragraph (1), funds may only be made available for direct government-to-government assistance subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations: Provided, That such notification shall contain an explanation of how the proposed activity meets the requirements of paragraph (1): Provided further, That the requirements of this paragraph shall only apply to direct government-to-government assistance in excess of $10,000,000 and all funds available for cash transfer, budget support, and cash payments to individuals. (3) Suspension of assistance.--The Administrator of the United States Agency for International Development or the Secretary of State, as appropriate, shall suspend any direct government-to-government assistance if the Administrator or the Secretary has credible information of material misuse of such assistance, unless the Administrator or the Secretary reports to the Committees on Appropriations that it is in the national interest of the United States to continue such assistance, including a justification, or that such misuse has been appropriately addressed. (4) Submission of information.--The Secretary of State shall submit to the Committees on Appropriations, concurrent with the fiscal year 2026 congressional budget justification materials, amounts planned for assistance described in paragraph (1) by country, proposed funding amount, source of funds, and type of assistance. (5) Debt service payment prohibition.--None of the funds made available by this Act may be used by the government of any foreign country for debt service payments owed by any country to any international financial institution or to the Government of the People's Republic of China. (b) National Budget and Contract Transparency.-- (1) Minimum requirements of fiscal transparency.--The Secretary of State shall continue to update and strengthen the ``minimum requirements of fiscal transparency'' for each government receiving assistance appropriated by this Act, as identified in the report required by section 7031(b) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2014 (division K of Public Law 113-76). (2) Determination and report.--For each government identified pursuant to paragraph (1), the Secretary of State, not later than 180 days after the date of enactment of this Act, shall make or update any determination of ``significant progress'' or ``no significant progress'' in meeting the minimum requirements of fiscal transparency, and make such determinations publicly available in an annual ``Fiscal Transparency Report'' to be posted on the Department of State website. (3) Assistance.--Not less than $7,000,000 of the funds appropriated by this Act under the heading ``Economic Support Fund'' shall be made available for programs and activities to assist governments identified pursuant to paragraph (1) to improve budget transparency and to support civil society organizations in such countries that promote budget transparency. (c) Anti-Kleptocracy and Human Rights.-- (1) Ineligibility.-- (A) Officials of foreign governments and their immediate family members about whom the Secretary of State has credible information have been involved, directly or indirectly, in significant corruption, including corruption related to the extraction of natural resources, or a gross violation of human rights, including the wrongful detention of locally employed staff of a United States diplomatic mission or a United States citizen or national, shall be ineligible for entry into the United States. (B) Concurrent with the application of subparagraph (A), the Secretary shall, as appropriate, refer the matter to the Office of Foreign Assets Control, Department of the Treasury, to determine whether to apply sanctions authorities in accordance with United States law to block the transfer of property and interests in property, and all financial transactions, in the United States involving any person described in such subparagraph. (C) The Secretary shall also publicly or privately designate or identify the officials of foreign governments and their immediate family members about whom the Secretary has such credible information without regard to whether the individual has applied for a visa. (2) Exception.--Individuals shall not be ineligible for entry into the United States pursuant to paragraph (1) if such entry would further important United States law enforcement objectives or is necessary to permit the United States to fulfill its obligations under the United Nations Headquarters Agreement: Provided, That nothing in paragraph (1) shall be construed to derogate from United States Government obligations under applicable international agreements. (3) Waiver.--The Secretary may waive the application of paragraph (1) if the Secretary determines that the waiver would serve a compelling national interest or that the circumstances which caused the individual to be ineligible have changed sufficiently. (4) Report.--Not later than 30 days after the date of enactment of this Act, and every 90 days thereafter until September 30, 2026, the Secretary of State shall submit a report, including a classified annex if necessary, to the appropriate congressional committees and the Committees on the Judiciary describing the information related to corruption or violation of human rights concerning each of the individuals found ineligible in the previous 12 months pursuant to paragraph (1)(A) as well as the individuals who the Secretary designated or identified pursuant to paragraph (1)(B), or who would be ineligible but for the application of paragraph (2), a list of any waivers provided under paragraph (3), and the justification for each waiver. (5) Posting of report.--Any unclassified portion of the report required under paragraph (4) shall be posted on the Department of State website. (6) Clarification.--For purposes of paragraphs (1), (4), and (5), the records of the Department of State and of diplomatic and consular offices of the United States pertaining to the issuance or refusal of visas or permits to enter the United States shall not be considered confidential. (d) Extraction of Natural Resources.-- (1) Assistance.--Funds appropriated by this Act shall be made available to promote and support transparency and accountability of expenditures and revenues related to the extraction of natural resources, including by strengthening implementation and monitoring of the Extractive Industries Transparency Initiative, implementing and enforcing section 8204 of the Food, Conservation, and Energy Act of 2008 (Public Law 110-246; 122 Stat. 2052) and the amendments made by such section, and to prevent the sale of conflict minerals, and for technical assistance to promote independent audit mechanisms and support civil society participation in natural resource management. (2) Prohibition.--None of the funds appropriated by this Act under title III may be made available to support mining activities related to the extraction of minerals until the Secretary of State certifies and reports to the appropriate congressional committees that comparable mining activities are permitted in areas in the United States which were allowable prior to 2023: Provided, That the restriction in this paragraph shall not apply to United States entities. (3) Public disclosure and independent audits.-- (A) The Secretary of the Treasury shall instruct the executive director of each international financial institution to use the voice and vote of the United States to oppose any assistance by such institutions (including any loan, credit, grant, or guarantee) to any country for the extraction and export of a natural resource if the government of such country has in place laws, regulations, or procedures to prevent or limit the public disclosure of company payments as required by United States law, and unless such government has adopted laws, regulations, or procedures in the sector in which assistance is being considered that: (1) accurately account for and publicly disclose payments to the government by companies involved in the extraction and export of natural resources; (2) include independent auditing of accounts receiving such payments and the public disclosure of such audits; and (3) require public disclosure of agreement and bidding documents, as appropriate. (B) The requirements of subparagraph (A) shall not apply to assistance for the purpose of building the capacity of such government to meet the requirements of such subparagraph. democracy programs Sec. 7032. (a) Funding.--Of the funds appropriated by this Act under the headings ``Development Assistance'', ``Economic Support Fund'', ``Democracy Fund'', ``Assistance for Europe, Eurasia and Central Asia'', and ``International Narcotics Control and Law Enforcement'', $2,900,000,000 shall be made available for democracy programs. (b) Authorities.-- (1) Availability.--Funds made available by this Act for democracy programs pursuant to subsection (a) and under the heading ``National Endowment for Democracy'' may be made available notwithstanding any other provision of law, and with regard to the National Endowment for Democracy (NED), any regulation. (2) Beneficiaries.--Funds made available by this Act for the NED are made available pursuant to the authority of the National Endowment for Democracy Act (title V of Public Law 98- 164), including all decisions regarding the selection of beneficiaries. (c) Definition of Democracy Programs.--For purposes of funds appropriated by this Act, the term ``democracy programs'' means programs that support good governance, credible and competitive elections, freedom of expression, association, assembly, and religion, human rights, labor rights, independent media, and the rule of law, and that otherwise strengthen the capacity of democratic political parties, governments, nongovernmental organizations and institutions, and citizens to support the development of democratic states and institutions that are responsive and accountable to citizens. (d) Program Prioritization.--Funds made available pursuant to subsection (a) to strengthen ministries and agencies should be prioritized in countries that demonstrate a strong commitment to the separation of powers, checks and balances, the rule of law, and credible electoral processes. (e) Restrictions on Foreign Government Interference.-- (1) Prior approval.--With respect to the provision of assistance for democracy programs in this Act, the organizations implementing such assistance, the specific nature of the assistance, and the participants in such programs shall not be subject to prior approval by the government of any foreign country. (2) Disclosure of implementing partner information.--If the Secretary of State, in consultation with the Administrator of the United States Agency for International Development, determines that the government of the country is undemocratic or has engaged in or condoned harassment, threats, or attacks against organizations implementing democracy programs, any new bilateral agreement governing the terms and conditions under which assistance is provided to such country shall not require the disclosure of the names of implementing partners of democracy programs, and the Secretary of State and the USAID Administrator shall expeditiously seek to negotiate amendments to existing bilateral agreements, as necessary, to conform to this requirement. (f) Continuation of Current Practices.--USAID shall continue to implement civil society and political competition and consensus building programs abroad with funds appropriated by this Act in a manner that recognizes the unique benefits of grants and cooperative agreements in implementing such programs. international religious freedom Sec. 7033. (a) International Religious Freedom Office.--Funds appropriated by this Act under the heading ``Diplomatic Programs'' shall be made available for the Office of International Religious Freedom, Department of State. (b) Assistance.-- (1) Of the funds appropriated by this Act under the headings ``Economic Support Fund'', ``Democracy Fund'', and ``International Broadcasting Operations'', not less than $50,000,000 shall be made available for international religious freedom programs: Provided, That funds made available by this Act under the headings ``Economic Support Fund'' and ``Democracy Fund'' pursuant to this section shall be the responsibility of the Ambassador-at-Large for International Religious Freedom, in consultation with other relevant United States Government officials, and shall be subject to prior consultation with the Committees on Appropriations. (2) Funds appropriated by this Act under the headings ``International Disaster Assistance'' and ``Migration and Refugee Assistance'' shall be made available for humanitarian assistance for vulnerable and persecuted ethnic and religious minorities. (c) Authority.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the heading ``Economic Support Fund'' may be made available notwithstanding any other provision of law for assistance for ethnic and religious minorities in Iraq and Syria. (d) Designation of Non-State Actors.--Section 7033(e) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2017 (division J of Public Law 115-31) shall continue in effect during fiscal year 2025. special provisions Sec. 7034. (a) Victims of War, Displaced Children, and Displaced Burmese.--Funds appropriated in title III of this Act that are made available for victims of war, displaced children, displaced Burmese, and to combat trafficking in persons and assist victims of such trafficking may be made available notwithstanding any other provision of law. (b) Forensic Assistance.-- (1) Funds appropriated by this Act under the heading ``Economic Support Fund'' shall be made available for forensic anthropology assistance related to the exhumation and identification of victims of war crimes, crimes against humanity, and genocide, which shall be administered by the Assistant Secretary for Democracy, Human Rights, and Labor, Department of State: Provided, That such funds shall be in addition to funds made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs for assistance for countries. (2) Of the funds appropriated by this Act under the heading ``International Narcotics Control and Law Enforcement'', not less than $10,000,000 shall be made available for DNA forensic technology programs to combat human trafficking in Central America and Mexico. (c) World Food Programme.--Funds appropriated by this Act under the heading ``International Disaster Assistance'' may be made available as a general contribution to the World Food Programme. (d) Directives and Authorities.-- (1) Research and training.--Funds appropriated by this Act under the heading ``Assistance for Europe, Eurasia and Central Asia'' shall be made available to carry out the Program for Research and Training on Eastern Europe and the Independent States of the Former Soviet Union as authorized by the Soviet- Eastern European Research and Training Act of 1983 (22 U.S.C. 4501 et seq.). (2) Genocide victims memorial sites.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the headings ``Economic Support Fund'' and ``Assistance for Europe, Eurasia and Central Asia'' may be made available as contributions to establish and maintain memorial sites of genocide, subject to the regular notification procedures of the Committees on Appropriations. (3) Private sector partnerships.--Of the funds appropriated by this Act under the headings ``Development Assistance'' and ``Economic Support Fund'' that are made available for private sector partnerships, including partnerships with philanthropic foundations, up to $50,000,000 may remain available until September 30, 2026: Provided, That funds made available pursuant to this paragraph may only be made available following prior consultation with, and the regular notification procedures of, the Committees on Appropriations. (4) Innovation.--The USAID Administrator may use funds appropriated by this Act under title III to make innovation incentive awards in accordance with the terms and conditions of section 7034(e)(4) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2019 (division F of Public Law 116-6), except that each individual award may not exceed $500,000. (5) Exchange visitor program.--None of the funds made available by this Act may be used to modify the Exchange Visitor Program administered by the Department of State to implement the Mutual Educational and Cultural Exchange Act of 1961 (Public Law 87-256; 22 U.S.C. 2451 et seq.), except through the formal rulemaking process pursuant to the Administrative Procedure Act (5 U.S.C. 551 et seq.) and notwithstanding the exceptions to such rulemaking process in such Act: Provided, That funds made available for such purpose shall only be made available after consultation with, and subject to the regular notification procedures of, the Committees on Appropriations, regarding how any proposed modification would affect the public diplomacy goals of, and the estimated economic impact on, the United States: Provided further, That such consultation shall take place not later than 30 days prior to the publication in the Federal Register of any regulatory action modifying the Exchange Visitor Program. (6) Payments.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the headings ``Diplomatic Programs'' and ``Operating Expenses'', except for funds designated by Congress as an emergency requirement pursuant to a concurrent resolution on the budget or the Balanced Budget and Emergency Deficit Control Act of 1985, are available to provide payments pursuant to section 901(i)(2) of title IX of division J of the Further Consolidated Appropriations Act, 2020 (22 U.S.C. 2680b(i)(2)): Provided, That funds made available pursuant to this paragraph shall be subject to prior consultation with the Committees on Appropriations. (7) Exemption of transactions.--Financing for transactions related to civil nuclear facilities, material, and technologies, and related goods and services and for transactions under the program on China and Transformational Exports shall be excluded from the requirements of section 8(g) of the Export-Import Bank Act of 1945 (12 U.S.C. 635 (g)). (8) Special envoy for holocaust issues.--Funds appropriated by this Act under the heading ``Diplomatic Programs'' may be made available for the Special Envoy for Holocaust Issues notwithstanding the limitation of section 7064(c)(4) of this Act. (e) Partner Vetting.--Prior to initiating a partner vetting program, providing a direct vetting option, or making a significant change to the scope of an existing partner vetting program, the Secretary of State and USAID Administrator, as appropriate, shall consult with the Committees on Appropriations: Provided, That the Secretary and the Administrator shall provide a direct vetting option for prime awardees in any partner vetting program initiated or significantly modified after the date of enactment of this Act, unless the Secretary or Administrator, as applicable, informs the Committees on Appropriations on a case-by-case basis that a direct vetting option is not feasible for such program: Provided further, That the Secretary and the Administrator may restrict the award of, terminate, or cancel contracts, grants, or cooperative agreements or require an awardee to restrict the award of, terminate, or cancel a sub-award based on information in connection with a partner vetting program. (f) International Child Abductions.--The Secretary of State should withhold funds appropriated under title III of this Act for assistance for the central government of any country that is not taking appropriate steps to comply with the Convention on the Civil Aspects of International Child Abductions, done at the Hague on October 25, 1980: Provided, That the Secretary shall report to the Committees on Appropriations within 15 days of withholding funds under this subsection. (g) Transfer of Funds for Extraordinary Protection.--The Secretary of State may transfer to, and merge with, funds under the heading ``Protection of Foreign Missions and Officials'' unobligated balances of expired funds appropriated under the heading ``Diplomatic Programs'' for fiscal year 2025, at no later than the end of the fifth fiscal year after the last fiscal year for which such funds are available for the purposes for which appropriated: Provided, That not more than $50,000,000 may be transferred. (h) Impact on Jobs.--Section 7056 of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2021 (division K of Public Law 116-260) shall continue in effect during fiscal year 2025. (i) Extension of Authorities.-- (1) Incentives for critical posts.--The authority contained in section 1115(d) of the Supplemental Appropriations Act, 2009 (Public Law 111-32) shall remain in effect through September 30, 2025. (2) Special inspector general for afghanistan reconstruction competitive status.--Notwithstanding any other provision of law, any employee of the Special Inspector General for Afghanistan Reconstruction (SIGAR) who completes at least 12 months of continuous service after enactment of this Act or who is employed on the date on which SIGAR terminates, whichever occurs first, shall acquire competitive status for appointment to any position in the competitive service for which the employee possesses the required qualifications. (3) Transfer of balances.--Section 7081(h) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2017 (division J of Public Law 115-31) shall continue in effect during fiscal year 2025. (4) Protective services.--Section 7071 of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2022 (division K of Public Law 117-103) shall continue in effect during fiscal year 2025 and shall be applied to funds appropriated by this Act by substituting ``$40,000,000'' for ``$30,000,000''. (5) Extension of loan guarantees to israel.--Chapter 5 of title I of the Emergency Wartime Supplemental Appropriations Act, 2003 (Public Law 108-11; 117 Stat. 576) is amended under the heading ``Loan Guarantees to Israel''-- (A) in the matter preceding the first proviso, by striking ``September 30, 2029'' and inserting ``September 30, 2030''; and (B) in the second proviso, by striking ``September 30, 2029'' and inserting ``September 30, 2030''. (6) Extension of certain personal services contract authority.--The authority provided in section 2401 of division C of the Extending Government Funding and Delivering Emergency Assistance Act (Public Law 117-43) shall remain in effect through September 30, 2025. (j) HIV/AIDS Working Capital Fund.--Funds available in the HIV/AIDS Working Capital Fund established pursuant to section 525(b)(1) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 2005 (Public Law 108-447) may be made available for pharmaceuticals and other products for child survival, malaria, and tuberculosis to the same extent as HIV/AIDS pharmaceuticals and other products, subject to the terms and conditions in such section: Provided, That the authority in section 525(b)(5) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 2005 (Public Law 108-447) shall be exercised by the Assistant Administrator for Global Health, USAID, with respect to funds deposited for such non-HIV/AIDS pharmaceuticals and other products, and shall be subject to the regular notification procedures of the Committees on Appropriations: Provided further, That the Secretary of State shall include in the congressional budget justification an accounting of budgetary resources, disbursements, balances, and reimbursements related to such fund. (k) Local Works.-- (1) Funding.--Of the funds appropriated by this Act under the headings ``Development Assistance'' and ``Economic Support Fund'', not less than $50,000,000 shall be made available for Local Works pursuant to section 7080 of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (division J of Public Law 113-235), which may remain available until September 30, 2029. (2) Eligible entities.--For the purposes of section 7080 of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (division J of Public Law 113-235), ``eligible entities'' shall be defined as small local, international, and United States-based nongovernmental organizations, educational institutions, and other small entities that have received less than a total of $5,000,000 from USAID over the previous 5 fiscal years: Provided, That departments or centers of such educational institutions may be considered individually in determining such eligibility. (l) Definitions.-- (1) Appropriate congressional committees.--Unless otherwise defined in this Act, for purposes of this Act the term ``appropriate congressional committees'' means the Committees on Appropriations and Foreign Relations of the Senate and the Committees on Appropriations and Foreign Affairs of the House of Representatives. (2) Clarification.--In Acts making appropriations for the Department of State, foreign operations, and related programs, the term ``contribution, grant, or other payment'' with respect to the United Nations or any affiliated organization of the United Nations shall mean voluntary and assessed contributions and payments, including contributions and payments to the United Nations Regular Budget. (3) Funds appropriated by this act and prior acts.--Unless otherwise defined in this Act, for purposes of this Act the term ``funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs'' means funds that remain available for obligation, and have not expired. (4) International financial institutions.--In this Act ``international financial institutions'' means the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Inter-American Development Bank, the International Monetary Fund, the International Fund for Agricultural Development, the Asian Development Bank, the Asian Development Fund, the Inter-American Investment Corporation, the North American Development Bank, the European Bank for Reconstruction and Development, the African Development Bank, the African Development Fund, and the Multilateral Investment Guarantee Agency. (5) Pacific islands countries.--In this Act, the term ``Pacific Islands countries'' means the Cook Islands, the Republic of Fiji, the Republic of Kiribati, the Republic of the Marshall Islands, the Federated States of Micronesia, the Republic of Nauru, Niue, the Republic of Palau, the Independent State of Papua New Guinea, the Independent State of Samoa, the Solomon Islands, the Kingdom of Tonga, Tuvalu, and the Republic of Vanuatu. (6) Spend plan.--In this Act, the term ``spend plan'' means a plan for the uses of funds appropriated for a particular entity, country, program, purpose, or account and which shall include, at a minimum, a description of-- (A) realistic and sustainable goals, criteria for measuring progress, and a timeline for achieving such goals; (B) amounts and sources of funds by account; (C) how such funds will complement other ongoing or planned programs; and (D) implementing partners, to the maximum extent practicable. (7) Successor operating unit.--Any reference to a particular operating unit or office in this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs shall be deemed to include any successor operating unit performing the same or similar functions. (8) USAID.--In this Act, the term ``USAID'' means the United States Agency for International Development. law enforcement and security Sec. 7035. (a) Assistance.-- (1) Community-based police assistance.--Funds made available under titles III and IV of this Act to carry out the provisions of chapter 1 of part I and chapters 4 and 6 of part II of the Foreign Assistance Act of 1961, may be used, notwithstanding section 660 of that Act, to enhance the effectiveness and accountability of civilian police authority through training and technical assistance in human rights, the rule of law, anti-corruption, strategic planning, and through assistance to foster civilian police roles that support democratic governance, including assistance for programs to prevent conflict, respond to disasters, address gender-based violence, and foster improved police relations with the communities they serve. (2) Combat casualty care.-- (A) Consistent with the objectives of the Foreign Assistance Act of 1961 and the Arms Export Control Act, funds appropriated by this Act under the headings ``Peacekeeping Operations'' and ``Foreign Military Financing Program'' shall be made available for combat casualty training and equipment in an amount above the prior fiscal year. (B) The Secretary of State shall offer combat casualty care training and equipment as a component of any package of lethal assistance funded by this Act with funds appropriated under the headings ``Peacekeeping Operations'' and ``Foreign Military Financing Program'': Provided, That the requirement of this subparagraph shall apply to a country in conflict, unless the Secretary determines that such country has in place, to the maximum extent practicable, functioning combat casualty care treatment and equipment that meets or exceeds the standards recommended by the Committee on Tactical Combat Casualty Care: Provided further, That any such training and equipment for combat casualty care shall be made available through an open and competitive process. (b) Authorities.-- (1) Reconstituting civilian police authority.--In providing assistance with funds appropriated by this Act under section 660(b)(6) of the Foreign Assistance Act of 1961, support for a nation emerging from instability may be deemed to mean support for regional, district, municipal, or other sub-national entity emerging from instability, as well as a nation emerging from instability. (2) Disarmament, demobilization, and reintegration.-- Section 7034(d) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (division J of Public Law 113-235) shall continue in effect during fiscal year 2025. (3) Commercial leasing of defense articles.-- Notwithstanding any other provision of law, and subject to the regular notification procedures of the Committees on Appropriations, the authority of section 23(a) of the Arms Export Control Act (22 U.S.C. 2763) may be used to provide financing to Israel, Egypt, the North Atlantic Treaty Organization (NATO), and major non-NATO allies for the procurement by leasing (including leasing with an option to purchase) of defense articles from United States commercial suppliers, not including Major Defense Equipment (other than helicopters and other types of aircraft having possible civilian application), if the President determines that there are compelling foreign policy or national security reasons for those defense articles being provided by commercial lease rather than by government-to-government sale under such Act. (4) Special defense acquisition fund.--Not to exceed $900,000,000 may be obligated pursuant to section 51(c)(2) of the Arms Export Control Act (22 U.S.C. 2795(c)(2)) for the purposes of the Special Defense Acquisition Fund (the Fund), to remain available for obligation until September 30, 2027: Provided, That the provision of defense articles and defense services to foreign countries or international organizations from the Fund shall be subject to the concurrence of the Secretary of State. (5) War reserve stockpile authority.--For fiscal year 2025, section 514(b) of the Foreign Assistance Act of 1961 (22 U.S.C. 2321h(b)) shall not apply to defense articles to be set aside, earmarked, reserved, or intended for use as reserve stocks in stockpiles in the State of Israel. (6) Program clarification.--Notwithstanding section 503(a)(3) of Public Law 87-195 (22 U.S.C. 2311(a)(3)), the procurement of defense articles and services funded on a non- repayable basis under section 23 of the Arms Export Control Act may be priced to include the costs of salaries of members of the Armed Forces of the United States engaged in security assistance activities pursuant to 10 U.S.C. 341 (relating to the State Partnership Program): Provided, That this paragraph shall only apply to funds that remain available for obligation in fiscal year 2025. (7) Foreign military financing direct loans and loan guarantees.--Section 2606(a) of the Consolidated Appropriations Act, 2022 (Public Law 117-103) shall continue in effect during fiscal year 2025 and shall apply to funds made available by this Act under the heading ``Foreign Military Financing Program''. (c) Limitations.-- (1) Child soldiers.--Funds appropriated by this Act should not be used to support any military training or operations that include child soldiers. (2) Landmines and cluster munitions.-- (A) Landmines.--Notwithstanding any other provision of law, demining equipment available to the United States Agency for International Development and the Department of State and used in support of the clearance of landmines and unexploded ordnance for humanitarian purposes may be disposed of on a grant basis in foreign countries, subject to such terms and conditions as the Secretary of State may prescribe. (B) Cluster munitions.--No military assistance shall be furnished for cluster munitions, no defense export license for cluster munitions may be issued, and no cluster munitions or cluster munitions technology shall be sold or transferred, unless-- (i) the submunitions of the cluster munitions, after arming, do not result in more than 1 percent unexploded ordnance across the range of intended operational environments, and the agreement applicable to the assistance, transfer, or sale of such cluster munitions or cluster munitions technology specifies that the cluster munitions will only be used against clearly defined military targets and will not be used where civilians are known to be present or in areas normally inhabited by civilians; or (ii) such assistance, license, sale, or transfer is for the purpose of demilitarizing or permanently disposing of such cluster munitions. (3) Crowd control.--If the Secretary of State has information that a unit of a foreign security force uses excessive force to repress peaceful expression or assembly concerning corruption, harm to the environment or human health, or the fairness of electoral processes, or in countries that are undemocratic or undergoing democratic transition, the Secretary shall promptly determine if such information is credible: Provided, That if the information is determined to be credible, funds appropriated by this Act should not be used for tear gas, small arms, light weapons, ammunition, or other items for crowd control purposes for such unit, unless the Secretary of State determines that the foreign government is taking effective measures to bring the responsible members of such unit to justice. (4) Oversight and accountability.-- (A) Prior to the signing of a new Letter of Offer and Acceptance (LOA) involving funds appropriated under the heading ``Foreign Military Financing Program'', the Secretary of State shall consult with each recipient government to ensure that the LOA between the United States and such recipient government complies with the purposes of section 4 of the Arms Export Control Act (22 U.S.C. 2754) and that the defense articles, services, and training procured with funds appropriated under such heading are consistent with United States national security policy. (B) The Secretary of State shall promptly inform the appropriate congressional committees of any instance in which the Secretary of State has credible information that such assistance was used in a manner contrary to such agreement. (5) Delivery of withheld items.--Any defense article and defense service withheld from delivery to Israel by the Department of State as of the date of enactment of this Act, including those contracted through Direct Commercial Sales for the Ministry of Public Security, shall be delivered to Israel not later than 15 days after the date of the enactment of this Act: Provided, That 50 percent of the funds appropriated or otherwise made available by this Act under the heading ``Diplomatic Programs'' and made available for the Office of the Secretary shall be withheld from obligation until the Secretary of State certifies and reports to the Committees on Appropriations that the defense articles and services described in this paragraph have been delivered to Israel. (6) Obligation requirement.--The Secretary of State shall obligate any remaining unobligated balances of funds appropriated or otherwise made available before the date of enactment of this Act for assistance for Israel not later than 30 days after the date of enactment of this Act. (d) Reports.-- (1) Security assistance report.--Not later than 120 days after the date of enactment of this Act, the Secretary of State shall submit to the Committees on Appropriations a report on funds obligated and expended during fiscal year 2024, by country and purpose of assistance, under the headings ``Peacekeeping Operations'', ``International Military Education and Training'', and ``Foreign Military Financing Program''. (2) Annual foreign military training report.--For the purposes of implementing section 656 of the Foreign Assistance Act of 1961, the term ``military training provided to foreign military personnel by the Department of Defense and the Department of State'' shall be deemed to include all military training provided by foreign governments with funds appropriated to the Department of Defense or the Department of State, except for training provided by the government of a country designated by section 517(b) of such Act (22 U.S.C. 2321k(b)) as a major non-NATO ally: Provided, That such third- country training shall be clearly identified in the report submitted pursuant to section 656 of such Act. countering the flow of fentanyl and other synthetic drugs Sec. 7036. (a) Assistance.--Of the funds appropriated by this Act under the headings ``Economic Support Fund'' and ``International Narcotics Control and Law Enforcement'', not less than $175,000,000 shall be made available for programs to counter the flow of fentanyl, fentanyl precursors, and other synthetic drugs into the United States: Provided, That such funds shall be in addition to funds otherwise made available for such purposes. (b) Uses of Funds.--Funds made available pursuant to subsection (a) shall be made available to support-- (1) efforts to stop the flow of fentanyl, fentanyl precursors, and other synthetic drugs and their precursor materials to the United States from and through the People's Republic of China (PRC), Mexico, and other countries; (2) law enforcement cooperation and capacity building efforts aimed at disrupting and dismantling transnational criminal organizations involved in the production and trafficking of fentanyl, fentanyl precursors, and other synthetic drugs; (3) implementation of the Fighting Emerging Narcotics Through Additional Nations to Yield Lasting Results Act (part 7 of subtitle C of the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023, Public Law 117-263); and (4) engagement, including through multilateral organizations and frameworks, to catalyze collective action to address the public health and security threats posed by fentanyl, fentanyl precursors, and other synthetic drugs, including through the Global Coalition to Address Synthetic Drug Threats. (c) Reports.-- (1) The Secretary of State shall, in consultation with the heads of other relevant Federal agencies and not later than 90 days after the date of enactment of this Act, submit a report to the appropriate congressional committees detailing and assessing the cooperation of the PRC in countering the flow of fentanyl, fentanyl precursors, and other synthetic drugs, and describing actions taken by the United States in coordination with other countries to engage the PRC on taking concrete and measurable steps to stop the flow of fentanyl, fentanyl precursors, and other synthetic drugs from the PRC to other countries: Provided, That such report shall be updated and resubmitted quarterly thereafter until September 30, 2026. (2) Not later than 60 days after the date of enactment of this Act, the Secretary shall submit a report to the appropriate congressional committees detailing how assistance for Mexico is strategically aligned to address the proliferation of fentanyl, fentanyl precursors, and other synthetic drugs from Mexico to the United States. palestinian statehood Sec. 7037. (a) Limitation on Assistance.--None of the funds appropriated under titles III through VI of this Act may be provided to support a Palestinian state unless the Secretary of State determines and certifies to the appropriate congressional committees that-- (1) the governing entity of a new Palestinian state-- (A) has demonstrated a firm commitment to peaceful co-existence with the State of Israel; and (B) is taking appropriate measures to counter terrorism and terrorist financing in the West Bank and Gaza, including the dismantling of terrorist infrastructures, and is cooperating with appropriate Israeli and other appropriate security organizations; and (2) the Palestinian Authority (or the governing entity of a new Palestinian state) is working with other countries in the region to vigorously pursue efforts to establish a just, lasting, and comprehensive peace in the Middle East that will enable Israel and an independent Palestinian state to exist within the context of full and normal relationships, which should include-- (A) termination of all claims or states of belligerency; (B) respect for and acknowledgment of the sovereignty, territorial integrity, and political independence of every state in the area through measures including the establishment of demilitarized zones; (C) their right to live in peace within secure and recognized boundaries free from threats or acts of force; (D) freedom of navigation through international waterways in the area; and (E) a framework for achieving a just settlement of the refugee problem. (b) Sense of Congress.--It is the sense of Congress that the governing entity should enact a constitution assuring the rule of law, an independent judiciary, and respect for human rights for its citizens, and should enact other laws and regulations assuring transparent and accountable governance. (c) Waiver.--The President may waive subsection (a) if the President determines that it is important to the national security interest of the United States to do so. (d) Exemption.--The restriction in subsection (a) shall not apply to assistance intended to help reform the Palestinian Authority and affiliated institutions, or the governing entity, in order to help meet the requirements of subsection (a), consistent with the provisions of section 7040 of this Act (``Limitation on Assistance for the Palestinian Authority''). prohibition on assistance to the palestinian broadcasting corporation Sec. 7038. None of the funds appropriated or otherwise made available by this Act may be used to provide equipment, technical support, consulting services, or any other form of assistance to the Palestinian Broadcasting Corporation. oversight requirements for the west bank and gaza Sec. 7039. (a) Oversight.--For fiscal year 2025, 30 days prior to the initial obligation of funds for the bilateral West Bank and Gaza Program, the Secretary of State shall certify to the Committees on Appropriations that procedures have been established to assure the Comptroller General of the United States will have access to appropriate United States financial information in order to review the uses of United States assistance for the Program funded under the heading ``Economic Support Fund'' for the West Bank and Gaza. (b) Vetting.--Prior to the obligation of funds appropriated by this Act under the heading ``Economic Support Fund'' for assistance for the West Bank and Gaza, the Secretary of State shall take all appropriate steps to ensure that such assistance is not provided to or through any individual, private or government entity, or educational institution that the Secretary knows or has reason to believe advocates, plans, sponsors, engages in, or has engaged in, terrorist activity nor, with respect to private entities or educational institutions, those that have as a principal officer of the entity's governing board or governing board of trustees any individual that has been determined to be involved in, or advocating terrorist activity or determined to be a member of a designated foreign terrorist organization: Provided, That the Secretary of State shall, as appropriate, establish procedures specifying the steps to be taken in carrying out this subsection and shall terminate assistance to any individual, entity, or educational institution which the Secretary has determined to be involved in or advocating terrorist activity. (c) Prohibition.-- (1) Recognition of acts of terrorism.--None of the funds appropriated under titles III through VI of this Act for assistance under the West Bank and Gaza Program may be made available for-- (A) the purpose of recognizing or otherwise honoring individuals who commit, or have committed acts of terrorism; and (B) any educational institution located in the West Bank or Gaza that is named after an individual who the Secretary of State determines has committed an act of terrorism. (2) Security assistance and reporting requirement.-- Notwithstanding any other provision of law, none of the funds made available by this or prior appropriations Acts, including funds made available by transfer, may be made available for obligation for security assistance for the West Bank and Gaza until the Secretary of State reports to the Committees on Appropriations on-- (A) the benchmarks that have been established for security assistance for the West Bank and Gaza and on the extent of Palestinian compliance with such benchmarks; and (B) the steps being taken by the Palestinian Authority to end torture and other cruel, inhuman, and degrading treatment of detainees, including by bringing to justice members of Palestinian security forces who commit such crimes. (d) Oversight by the United States Agency for International Development.-- (1) The Administrator of the United States Agency for International Development shall ensure that Federal or non- Federal audits of all contractors and grantees, and significant subcontractors and sub-grantees, under the West Bank and Gaza Program, are conducted at least on an annual basis to ensure, among other things, compliance with this section. (2) Of the funds appropriated by this Act, up to $1,400,000 may be used by the Office of Inspector General of the United States Agency for International Development for audits, investigations, and other activities in furtherance of the requirements of this subsection: Provided, That such funds are in addition to funds otherwise available for such purposes. (e) Comptroller General of the United States Audit.--Subsequent to the certification specified in subsection (a), the Comptroller General of the United States shall conduct an audit and an investigation of the treatment, handling, and uses of all funds for the bilateral West Bank and Gaza Program, including all funds provided as cash transfer assistance, in fiscal year 2025 under the heading ``Economic Support Fund'', and such audit shall address-- (1) the extent to which such Program complies with the requirements of subsections (b) and (c); and (2) an examination of all programs, projects, and activities carried out under such Program, including both obligations and expenditures. (f) Notification Procedures.--Funds made available in this Act for West Bank and Gaza shall be subject to the regular notification procedures of the Committees on Appropriations. limitation on assistance for the palestinian authority Sec. 7040. (a) Prohibition of Funds.--None of the funds appropriated by this Act to carry out the provisions of chapter 4 of part II of the Foreign Assistance Act of 1961 may be obligated or expended with respect to providing funds to the Palestinian Authority. (b) Waiver.--The prohibition included in subsection (a) shall not apply if the President certifies in writing to the Speaker of the House of Representatives, the President pro tempore of the Senate, and the Committees on Appropriations that waiving such prohibition is important to the national security interest of the United States. (c) Period of Application of Waiver.--Any waiver pursuant to subsection (b) shall be effective for no more than a period of 6 months at a time and shall not apply beyond 12 months after the enactment of this Act. (d) Report.--Whenever the waiver authority pursuant to subsection (b) is exercised, the President shall submit a report to the Committees on Appropriations detailing the justification for the waiver, the purposes for which the funds will be spent, and the accounting procedures in place to ensure that the funds are properly disbursed: Provided, That the report shall also detail the steps the Palestinian Authority has taken to arrest terrorists, confiscate weapons and dismantle the terrorist infrastructure. (e) Certification.--If the President exercises the waiver authority under subsection (b), the Secretary of State must certify and report to the Committees on Appropriations prior to the obligation of funds that the Palestinian Authority has established a single treasury account for all Palestinian Authority financing and all financing mechanisms flow through this account, no parallel financing mechanisms exist outside of the Palestinian Authority treasury account, and there is a single comprehensive civil service roster and payroll, and the Palestinian Authority is acting to counter incitement of violence against Israelis and is supporting activities aimed at promoting peace, coexistence, and security cooperation with Israel. (f) Prohibition to Hamas and the Palestine Liberation Organization.-- (1) None of the funds appropriated in titles III through VI of this Act may be obligated for salaries of personnel of the Palestinian Authority located in Gaza or may be obligated or expended for assistance to Hamas or any entity effectively controlled by Hamas, any power-sharing government of which Hamas is a member, or that results from an agreement with Hamas and over which Hamas exercises undue influence. (2) Notwithstanding the limitation of paragraph (1), assistance may be provided to a power-sharing government only if the President certifies and reports to the Committees on Appropriations that such government, including all of its ministers or such equivalent, has publicly accepted and is complying with the principles contained in section 620K(b)(1)(A) and (B) of the Foreign Assistance Act of 1961, as amended. (3) The President may exercise the authority in section 620K(e) of the Foreign Assistance Act of 1961, as added by the Palestinian Anti-Terrorism Act of 2006 (Public Law 109-446) with respect to this subsection. (4) Whenever the certification pursuant to paragraph (2) is exercised, the Secretary of State shall submit a report to the Committees on Appropriations within 120 days of the certification and every quarter thereafter on whether such government, including all of its ministers or such equivalent are continuing to comply with the principles contained in section 620K(b)(1)(A) and (B) of the Foreign Assistance Act of 1961, as amended: Provided, That the report shall also detail the amount, purposes and delivery mechanisms for any assistance provided pursuant to the abovementioned certification and a full accounting of any direct support of such government. (5) None of the funds appropriated under titles III through VI of this Act may be obligated for assistance for the Palestine Liberation Organization. middle east and north africa Sec. 7041. (a) Egypt.-- (1) Assistance.--Of the funds appropriated by this Act, not less than $1,425,000,000 shall be made available for assistance for Egypt, of which-- (A) not less than $125,000,000 shall be made available from funds under the heading ``Economic Support Fund''; and (B) not less than $1,300,000,000 shall be made available from funds under the heading ``Foreign Military Financing Program'', to remain available until September 30, 2026: Provided, That such funds may be transferred to an interest bearing account in the Federal Reserve Bank of New York. (2) Additional security assistance.--In addition to amounts made available pursuant to paragraph (1), not less than $75,000,000 of the funds appropriated under the heading ``Foreign Military Financing Program'' shall be made available for assistance for Egypt. (3) Directive.--Funds made available pursuant to paragraph (1)(A) shall include support for higher education programs for scholarships for Egyptian students with high financial need to attend not-for-profit institutions of higher education in Egypt that are currently accredited by a regional accrediting agency recognized by the United States Department of Education, or meets standards equivalent to those required for United States institutional accreditation by a regional accrediting agency recognized by such Department, democracy programs, and for development programs in the Sinai. (4) Certification and report.--Funds appropriated by this Act that are available for assistance for Egypt may be made available notwithstanding any other provision of law restricting assistance for Egypt, except for this subsection and section 620M of the Foreign Assistance Act of 1961, and may only be made available for assistance for the Government of Egypt if the Secretary of State certifies and reports to the Committees on Appropriations that such government is-- (A) sustaining the strategic relationship with the United States; and (B) meeting its obligations under the 1979 Egypt- Israel Peace Treaty. (b) Iran.-- (1) Funding.--Funds appropriated by this Act under the headings ``Diplomatic Programs'', ``Economic Support Fund'', and ``Nonproliferation, Anti-terrorism, Demining and Related Programs'' shall be made available-- (A) to support the United States policy to prevent Iran from achieving the capability to produce or otherwise obtain a nuclear weapon; (B) to support an expeditious response to any violation of United Nations Security Council Resolutions or to efforts that advance Iran's nuclear program; (C) to support the implementation and enforcement of sanctions against Iran for support of nuclear weapons development, terrorism, human rights abuses, and ballistic missile and weapons proliferation; and (D) for democracy programs in support of the aspirations of the Iranian people. (2) Reports.-- (A) Semi-annual report.--The Secretary of State shall submit to the Committees on Appropriations the semi-annual report required by section 135(d)(4) of the Atomic Energy Act of 1954 (42 U.S.C. 2160e(d)(4)), as added by section 2 of the Iran Nuclear Agreement Review Act of 2015 (Public Law 114-17). (B) Sanctions report.--Not later than 180 days after the date of enactment of this Act, the Secretary of State, in consultation with the Secretary of the Treasury, shall submit to the appropriate congressional committees a report on-- (i) the status of United States bilateral sanctions on Iran; (ii) the reimposition and renewed enforcement of secondary sanctions; and (iii) the impact such sanctions have had on Iran's destabilizing activities throughout the Middle East. (3) Limitations.--None of the funds appropriated by this Act may be used to-- (A) implement an agreement with the Government of Iran relating to the nuclear program of Iran, or a renewal of the Joint Comprehensive Plan of Action adopted on October 18, 2015, in contravention of the Iran Nuclear Agreement Review Act of 2015 (42 U.S.C. 2160e); (B) made available to any foreign entity or person that is subject to United Nations or United States bilateral sanctions with respect to the Government of Iran; or (C) revoke the designation of the Islamic Revolutionary Guard Corps as a Foreign Terrorist Organization pursuant to section 219 of the Immigration and Nationality Act (8 U.S.C. 1189). (c) Iraq.-- (1) Funds appropriated under titles III and IV of this Act shall be made available for assistance for Iraq for-- (A) bilateral economic assistance and international security assistance, including in the Kurdistan Region of Iraq; (B) stabilization assistance, including in Anbar Province; (C) programs to support government transparency and accountability, support judicial independence, protect the right of due process, end the use of torture, and combat corruption; (D) humanitarian assistance, including in the Kurdistan Region of Iraq; (E) programs to protect and assist religious and ethnic minority populations; and (F) programs to increase United States private sector investment. (2) Limitation.--Funds appropriated by this Act under title III and made available for bilateral economic assistance for Iraq may not be made available to an organization or entity for which the Secretary of State has credible information is controlled by the Badr Organization. (d) Israel.--Of the funds appropriated by this Act under the heading ``Foreign Military Financing Program'', not less than $3,300,000,000 shall be available for grants only for Israel: Provided, That any funds appropriated by this Act under the heading ``Foreign Military Financing Program'' and made available for assistance for Israel shall be disbursed within 30 days of the date of enactment of this Act: Provided further, That to the extent that the Government of Israel requests that funds be used for such purposes, grants made available for Israel under this heading shall, as agreed by the United States and Israel, be available for advanced weapons systems, of which not less than $450,300,000 shall be available for the procurement in Israel of defense articles and defense services, including research and development. (e) Jordan.-- (1) Of the funds appropriated by this Act under titles III and IV, not less than $1,650,000,000 shall be made available for assistance for Jordan, of which not less than $845,100,000 shall be made available for budget support for the Government of Jordan and not less than $425,000,000 shall be made available under the heading ``Foreign Military Financing Program''. (2) In addition to amounts made available pursuant to paragraph (1), not less than $400,000,000 of the funds appropriated under the heading ``Economic Support Fund'' shall be made available for assistance for Jordan, which shall be made available for budget support, and not less than $50,000,000 of the funds appropriated under the heading ``Foreign Military Financing Program'' shall be made available for assistance for Jordan. (f) Lebanon.-- (1) Limitation.--None of the funds appropriated by this Act may be made available for the Lebanese Internal Security Forces (ISF) or the Lebanese Armed Forces (LAF) if the ISF or the LAF is controlled by a foreign terrorist organization, as designated pursuant to section 219 of the Immigration and Nationality Act (8 U.S.C. 1189). (2) Security assistance.-- (A) Funds appropriated by this Act under the headings ``International Narcotics Control and Law Enforcement'' and ``Foreign Military Financing Program'' that are made available for assistance for Lebanon may be made available for programs and equipment for the ISF and the LAF to address security and stability requirements in areas affected by conflict in Syria, following consultation with the appropriate congressional committees. (B) Funds appropriated by this Act under the heading ``Foreign Military Financing Program'' that are made available for assistance for Lebanon may only be made available for programs to-- (i) professionalize the LAF to mitigate internal and external threats from non-state actors, including Hizballah; (ii) strengthen the security of borders and combat terrorism, including training and equipping the LAF to secure the borders of Lebanon and address security and stability requirements in areas affected by conflict in Syria, interdicting arms shipments, and preventing the use of Lebanon as a safe haven for terrorist groups; and (iii) implement United Nations Security Council Resolution 1701: Provided, That prior to obligating funds made available by this subparagraph for assistance for the LAF, the Secretary of State shall submit to the Committees on Appropriations a spend plan, including actions to be taken to ensure equipment provided to the LAF is used only for the intended purposes, except such plan may not be considered as meeting the notification requirements under section 7015 of this Act or under section 634A of the Foreign Assistance Act of 1961: Provided further, That any notification submitted pursuant to such section shall include any funds specifically intended for lethal military equipment. (g) Morocco.--Funds appropriated under titles III and IV of this Act shall be made available for assistance for Morocco. (h) Saudi Arabia.-- (1) None of the funds appropriated by this Act under the heading ``International Military Education and Training'' should be made available for assistance for the Government of Saudi Arabia. (2) None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs should be obligated or expended by the Export-Import Bank of the United States to guarantee, insure, or extend (or participate in the extension of) credit in connection with the export of nuclear technology, equipment, fuel, materials, or other nuclear technology-related goods or services to Saudi Arabia unless the Government of Saudi Arabia-- (A) has in effect a nuclear cooperation agreement pursuant to section 123 of the Atomic Energy Act of 1954 (42 U.S.C. 2153); (B) has committed to renounce uranium enrichment and reprocessing on its territory under that agreement; and (C) has signed and implemented an Additional Protocol to its Comprehensive Safeguards Agreement with the International Atomic Energy Agency. (i) Syria.-- (1) Non-lethal assistance.--Funds appropriated by this Act under titles III and IV may be made available, notwithstanding any other provision of law, for non-lethal stabilization assistance for Syria, including for emergency medical and rescue response and chemical weapons investigations. (2) Limitations.--Funds made available pursuant to paragraph (1) of this subsection-- (A) may not be made available for a project or activity that supports or otherwise legitimizes the Government of Iran, foreign terrorist organizations (as designated pursuant to section 219 of the Immigration and Nationality Act (8 U.S.C. 1189)), or a proxy of Iran in Syria; (B) may not be made available for activities that further the strategic objectives of the Government of the Russian Federation that the Secretary of State determines may threaten or undermine United States national security interests; and (C) may not be used in areas of Syria controlled by a government led by Bashar al-Assad or associated forces or made available to an organization or entity effectively controlled by an official or immediate family member of an official of such government. (3) Monitoring, oversight, consultation, and notification.-- (A) Prior to the obligation of funds appropriated by this Act and made available for assistance for Syria, the Secretary of State shall take all practicable steps to ensure that mechanisms are in place for monitoring, oversight, and control of such assistance inside Syria. (B) Funds made available pursuant to this subsection may only be made available following consultation with the appropriate congressional committees and shall be subject to the regular notification procedures of the Committees on Appropriations: Provided, That such consultation shall include the steps taken to comply with subparagraph (A) and steps intended to be taken to comply with section 7015(j) of this Act. (j) West Bank and Gaza.-- (1) Limitations.-- (A) None of the funds appropriated under the heading ``Economic Support Fund'' in this Act may be made available for assistance for the Palestinian Authority, if after the date of enactment of this Act-- (i) the Palestinians obtain the same standing as member states or full membership as a state in the United Nations or any specialized agency thereof outside an agreement negotiated between Israel and the Palestinians; or (ii) the Palestinians initiate an International Criminal Court (ICC) judicially authorized investigation, or actively support such an investigation, that subjects Israeli nationals to an investigation for alleged crimes against Palestinians. (B)(i) The President may waive the provisions of section 1003 of the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 (Public Law 100-204) if the President determines and certifies in writing to the Speaker of the House of Representatives, the President pro tempore of the Senate, and the appropriate congressional committees that the Palestinians have not, after the date of enactment of this Act-- (I) obtained in the United Nations or any specialized agency thereof the same standing as member states or full membership as a state outside an agreement negotiated between Israel and the Palestinians; (II) initiated or actively supported an ICC investigation against Israeli nationals for alleged crimes against Palestinians; and (III) initiated any further action, whether directly or indirectly, based on an Advisory Opinion of the International Court of Justice that undermines direct negotiations to resolve the Israeli-Palestinian conflict, including matters related to final status and Israel's longstanding security rights and responsibilities. (ii) Not less than 90 days after the President is unable to make the certification pursuant to clause (i) of this subparagraph, the President may waive section 1003 of Public Law 100-204 if the President determines and certifies in writing to the Speaker of the House of Representatives, the President pro tempore of the Senate, and the Committees on Appropriations that the Palestinians have entered into direct and meaningful negotiations with Israel: Provided, That any waiver of the provisions of section 1003 of Public Law 100-204 under clause (i) of this subparagraph or under previous provisions of law must expire before the waiver under this clause may be exercised. (iii) Any waiver pursuant to this subparagraph shall be effective for no more than a period of 6 months at a time and shall not apply beyond 12 months after the enactment of this Act. (C) None of the funds appropriated or otherwise made available by this Act may be made available for the Office of Palestinian Affairs, Department of State. (2) Application of taylor force act.--Funds appropriated by this Act under the heading ``Economic Support Fund'' that are made available for assistance for the West Bank and Gaza shall be made available consistent with section 1004(a) of the Taylor Force Act (title X of division S of Public Law 115-141). (3) Security report.--The reporting requirements in section 1404 of the Supplemental Appropriations Act, 2008 (Public Law 110-252) shall apply to funds made available by this Act, including a description of modifications, if any, to the security strategy of the Palestinian Authority. (4) Incitement report.--Not later than 90 days after the date of enactment of this Act, the Secretary of State shall submit a report to the appropriate congressional committees detailing steps taken by the Palestinian Authority to counter incitement of violence against Israelis and to promote peace and coexistence with Israel. (5) Directive.--Beginning in fiscal year 2025, the Secretary of State shall bifurcate the budget operating unit of ``West Bank and Gaza'' into separate units. (k) Yemen.--None of the funds appropriated by this Act may be used to revoke the designation of Ansarallah as a Specially Designated Global Terrorist group. africa Sec. 7042. (a) Counter Illicit Armed Groups.--Funds appropriated by this Act shall be made available for programs and activities in areas affected by the Lord's Resistance Army (LRA) or other illicit armed groups in Eastern Democratic Republic of the Congo and the Central African Republic, including to improve physical access, telecommunications infrastructure, and early-warning mechanisms and to support the disarmament, demobilization, and reintegration of former LRA combatants, especially child soldiers. (b) Ethiopia.--Funds appropriated by this Act that are made available for assistance for Ethiopia should be used to support-- (1) political dialogue; (2) civil society and the protection of human rights; (3) investigations and prosecutions of gross violations of human rights; (4) efforts to provide unimpeded access to, and monitoring of, humanitarian assistance; and (5) the restoration of basic services in areas impacted by conflict. (c) Malawi.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs that are made available for higher education programs in Malawi shall be made available for higher education and workforce development programs in agriculture as described under this section in the report accompanying this Act. (d) Power Africa.--Prior to the initial obligation of funds appropriated by this Act and made available for the Power Africa program, the Administrator of the United States Agency for International Development shall submit the report required under this section in the report accompanying this Act: Provided, That such funds shall be used for all-of-the-above energy development consistent with the Electrify Africa Act of 2015 (Public Law 114-121). (e) South Sudan.--None of the funds appropriated by this Act under title IV may be made available for assistance for the central Government of South Sudan, except to support implementation of outstanding issues of the Comprehensive Peace Agreement, mutual arrangements related to post-referendum issues associated with such Agreement, or any other viable peace agreement in South Sudan. (f) Sudan.-- (1) Limitation.--None of the funds appropriated by this Act under title IV may be made available for assistance for the central Government of Sudan, except to support implementation of outstanding issues of the Comprehensive Peace Agreement, mutual arrangements related to post-referendum issues associated with such Agreement, or any other viable peace agreement in Sudan. (2) Consultation.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs that are made available for any new program, project, or activity in Sudan shall be subject to prior consultation with the appropriate congressional committees. (g) Zimbabwe.-- (1) Instruction.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to vote against any extension by the respective institution of any loan or grant to the Government of Zimbabwe, except to meet basic human needs or to promote democracy, unless the Secretary of State certifies and reports to the Committees on Appropriations that the rule of law has been restored, including respect for ownership and title to property, and freedoms of expression, association, and assembly. (2) Limitation.--None of the funds appropriated by this Act shall be made available for assistance for the central Government of Zimbabwe, except for health and education, unless the Secretary of State certifies and reports as required in paragraph (1). east asia and the pacific Sec. 7043. (a) Burma.-- (1) Uses of funds.--Funds appropriated by this Act under the heading ``Economic Support Fund'' may be made available for assistance for Burma for the purposes described in section 5575 of the Burma Act of 2022 (subtitle E of title LV of division E of Public Law 117-263) and section 7043(a) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2023 (division K of Public Law 117-328): Provided, That the authorities, limitations, and conditions contained in section 7043(a) of division K of Public Law 117-328 shall apply to funds made available for assistance for Burma under this Act, except for the minimum funding requirements and paragraph (1)(B): Provided further, That for the purposes of section 5575 of the Burma Act of 2022 and assistance for Burma made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs, ``non-lethal assistance'' shall include equipment and associated training to support-- (A) atrocities prevention; (B) the protection of civilians from military attack; (C) the delivery of humanitarian assistance; (D) investigations into genocide and human rights violations committed by the Burmese military; (E) local governance and the provision of services in areas outside the control of the Burmese military; and (F) medical trauma care, supplies, and training. (2) Deserter programs.--Pursuant to section 7043(a)(1)(A) of division K of Public Law 117-328, as continued in effect by this subsection, funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs that are made available for assistance for Burma shall be made available for programs and activities to support deserters from the military junta and its allied entities, following consultation with the appropriate congressional committees. (b) Cambodia.-- Not later than 90 days after the date of enactment of this Act but prior to the initial obligation of funds appropriated by this Act that are made available for assistance for Cambodia, the Secretary of State shall submit to the appropriate congressional committees an assessment of the extent of the influence of the People's Republic of China in Cambodia, including on the Government of Cambodia and with respect to the purposes and operations of Ream Naval Base. (c) Indo-Pacific Strategy.-- (1) Assistance.--Of the funds appropriated under titles III and IV of this Act, not less than $2,100,000,000 shall be made available to support implementation of the Indo-Pacific Strategy. (2) Countering prc influence fund.--Of the funds appropriated by this Act under the headings ``Development Assistance'', ``Economic Support Fund'', ``International Narcotics Control and Law Enforcement'', ``Nonproliferation, Anti-terrorism, Demining and Related Programs'', and ``Foreign Military Financing Program'', not less than $400,000,000 shall be made available for a Countering PRC Influence Fund to counter the influence of the Government of the People's Republic of China and the Chinese Communist Party and entities acting on their behalf globally, which shall be subject to prior consultation with the Committees on Appropriations: Provided, That such funds are in addition to amounts otherwise made available for such purposes: Provided further, That up to 10 percent of such funds shall be held in reserve to respond to unanticipated opportunities to counter PRC influence: Provided further, That funds made available pursuant to this paragraph under the heading ``Foreign Military Financing Program'' may remain available until September 30, 2026: Provided further, That funds appropriated by this Act for such Fund under the headings ``International Narcotics Control and Law Enforcement'', ``Nonproliferation, Anti-terrorism, Demining and Related Programs'', and ``Foreign Military Financing Program'' may be transferred to, and merged with, funds appropriated under such headings: Provided further, That such transfer authority is in addition to any other transfer authority provided by this Act or any other Act, and is subject to the regular notification procedures of the Committees on Appropriations. (3) Restriction on uses of funds.--None of the funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available for any project or activity that directly supports or promotes-- (A) the Belt and Road Initiative or any dual-use infrastructure projects of the People's Republic of China; or (B) the use of technology, including biotechnology, digital, telecommunications, and cyber, developed by the People's Republic of China unless the Secretary of State, in consultation with the USAID Administrator and the heads of other Federal agencies, as appropriate, determines that such use does not adversely impact the national security of the United States. (4) Maps.--None of the funds made available by this Act should be used to create, procure, or display any map that inaccurately depicts the territory and social and economic system of Taiwan and the islands or island groups administered by Taiwan authorities. (d) North Korea.-- (1) Cybersecurity.--None of the funds appropriated by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available for assistance for the central government of a country the Secretary of State determines and reports to the appropriate congressional committees engages in significant transactions contributing materially to the malicious cyber- intrusion capabilities of the Government of North Korea: Provided, That the Secretary of State shall submit the report required by section 209 of the North Korea Sanctions and Policy Enhancement Act of 2016 (Public Law 114-122; 22 U.S.C. 9229) to the Committees on Appropriations: Provided further, That the Secretary of State may waive the application of the restriction in this paragraph with respect to assistance for the central government of a country if the Secretary determines and reports to the appropriate congressional committees that to do so is important to the national security interest of the United States, including a description of such interest served. (2) Broadcasts.--Funds appropriated by this Act under the heading ``International Broadcasting Operations'' shall be made available to maintain broadcasting hours into North Korea at levels not less than the prior fiscal year. (3) Human rights.--Funds appropriated by this Act under the headings ``Economic Support Fund'' and ``Democracy Fund'' shall be made available for the promotion of human rights in North Korea: Provided, That the authority of section 7032(b)(1) of this Act shall apply to such funds. (4) Limitation on use of funds.--None of the funds made available by this Act under the heading ``Economic Support Fund'' may be made available for assistance for the Government of North Korea. (e) Pacific Islands Countries.-- (1) Operations.--Funds appropriated by this Act under the headings ``Diplomatic Programs'' for the Department of State and ``Operating Expenses'' for the United States Agency for International Development shall be made available to expand the United States diplomatic and development presence in Pacific Islands countries (PICs), including the number and location of facilities and personnel. (2) Assistance.--Of the funds appropriated by this Act under the headings ``Development Assistance'', ``Economic Support Fund'', ``International Narcotics Control and Law Enforcement'', ``Nonproliferation, Anti-terrorism, Demining and Related Programs'', and ``Foreign Military Financing Program'', not less than $175,000,000 shall be made available for assistance for PICs. (f) People's Republic of China.-- (1) Prohibition.-- (A) None of the funds appropriated by this Act may be made available for assistance for the Government of the People's Republic of China or the Chinese Communist Party. (B) None of the funds made available by this Act shall be used to implement, administer, carry out, modify, revise, or enforce any action that directly supports or facilitates forced labor or other violations of human rights, crimes against humanity, or genocide in the People's Republic of China. (2) Hong kong.--Of the funds appropriated by this Act under the first paragraph under the heading ``Democracy Fund'', not less than $5,000,000 shall be made available for democracy and Internet freedom programs for Hong Kong, including legal and other support for democracy activists. (g) Philippines.--Of the funds appropriated by this Act under titles III and IV, not less than $180,300,000 shall be made available for assistance for the Philippines, of which not less than $80,300,000 shall be made available under the heading ``Development Assistance'' and not less than $100,000,000 shall be made available under the heading ``Foreign Military Financing Program''. (h) Taiwan.-- (1) Global cooperation and training framework.--Of the funds appropriated by this Act under the heading ``Economic Support Fund'', not less than $4,000,000 shall be made available for the Global Cooperation and Training Framework, which shall be administered by the American Institute in Taiwan. (2) Foreign military financing program.--Of the funds appropriated by this Act under the heading ``Foreign Military Financing Program'', not less than $500,000,000 shall be made available for assistance for Taiwan: Provided, That the Secretary of State, in coordination with the Secretary of Defense, shall prioritize the delivery of defense articles and services for Taiwan, as authorized by section 5502(g) of the Taiwan Enhanced Resilience Act (subtitle A of title LV of division E of Public Law 117-263). (3) Foreign military financing program loan and loan guarantee authority.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the heading ``Foreign Military Financing Program'', except for amounts designated as an emergency requirement pursuant to a concurrent resolution on the budget or the Balanced Budget and Emergency Deficit Control Act of 1985, may be made available for the costs, as defined in section 502 of the Congressional Budget Act of 1974, of direct loans and loan guarantees for Taiwan, as authorized by section 5502(g) of the Taiwan Enhanced Resilience Act (subtitle A of title LV of division E of Public Law 117-263). (4) Fellowship program.--Funds appropriated by this Act under the heading ``Payment to the American Institute in Taiwan'' shall be made available for the Taiwan Fellowship Program. (5) Consultation.--Not later than 60 days after the date of enactment of this Act, the Secretary of State shall consult with the Committees on Appropriations on the uses of funds made available pursuant to this subsection: Provided, That such funds shall be subject to the regular notification procedures of the Committees on Appropriations. (i) Tibet.-- (1) Notwithstanding any other provision of law, of the funds appropriated by this Act under the heading ``Economic Support Fund'', not less than $10,000,000 shall be made available to nongovernmental organizations with experience working with Tibetan communities to support activities which preserve cultural traditions and promote sustainable development, education, and environmental conservation in Tibetan communities in the Tibet Autonomous Region and in other Tibetan communities in China, as authorized by section 346(d) of the Tibetan Policy and Support Act of 2020 (subtitle E of title III of division FF of Public Law 116-260). (2) Of the funds appropriated by this Act under the heading ``Economic Support Fund'', not less than $8,000,000 shall be made available for programs to promote and preserve Tibetan culture and language in the refugee and diaspora Tibetan communities, development, and the resilience of Tibetan communities and the Central Tibetan Administration in India and Nepal, and to assist in the education and development of the next generation of Tibetan leaders from such communities, as authorized by section 346(e) of the Tibetan Policy and Support Act of 2020 (subtitle E of title III of division FF of Public Law 116-260): Provided, That such funds are in addition to amounts made available in paragraph (1) for programs inside Tibet. (3) Of the funds appropriated by this Act under the heading ``Economic Support Fund'', not less than $5,000,000 shall be made available for programs to strengthen the capacity of the Central Tibetan Administration, as authorized by section 346(f) of the Tibetan Policy and Support Act of 2020 (subtitle E of title III of division FF of Public Law 116-260), of which up to $1,500,000 may be made available to address economic growth and capacity building activities, including for displaced Tibetan refugee families in India and Nepal to help meet basic needs, following consultation with the Committees on Appropriations: Provided, That such funds shall be administered by USAID. south and central asia Sec. 7044. (a) Afghanistan.-- (1) Restriction.--None of the funds appropriated by this Act that are made available for assistance for Afghanistan may be made available for assistance to the Taliban. (2) Afghan women.--Funds appropriated by this Act under the heading ``Economic Support Fund'' that are made available for assistance for Afghanistan shall be made available for-- (A) programs to investigate and document human rights abuses against women in Afghanistan; and (B) a program for Afghan women-led organizations to support education, human rights, and economic livelihoods in Afghanistan: Provided, That such program shall be co-designed by women in Afghanistan. (3) Afghan students.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs shall be made available to-- (A) support the higher education of students from Afghanistan studying outside of the country, including the costs of reimbursement to institutions hosting such students, as appropriate: Provided, That the Secretary of State and the Administrator of the United States Agency for International Development, as appropriate, shall consult with the Committees on Appropriations prior to the initial obligation of funds for such purposes; and (B) provide modified learning opportunities for women and girls in Afghanistan, including but not limited to, efforts to expand internet access, online schooling, and distribution of educational content. (b) Pakistan.-- (1) Limitation.--Funds appropriated by this Act under the heading ``Foreign Military Financing Program'' that are made available for assistance for Pakistan may only be made available to support counterterrorism and counterinsurgency capabilities in Pakistan. (2) Withholding.--Of the funds appropriated under titles III and IV of this Act that are made available for assistance for Pakistan, $33,000,000 shall be withheld from obligation until the Secretary of State reports to the Committees on Appropriations that Dr. Shakil Afridi has been released from prison and cleared of all charges relating to the assistance provided to the United States in locating Osama bin Laden. (c) Sri Lanka.-- (1) Assistance.--Funds appropriated under title III of this Act shall be made available for assistance for Sri Lanka for democracy and economic development programs, particularly in areas recovering from ethnic and religious conflict. (2) Certification.--Funds appropriated by this Act for assistance for the central Government of Sri Lanka may be made available only if the Secretary of State certifies and reports to the Committees on Appropriations that such Government is taking effective and consistent steps to-- (A) protect the rights and freedoms of the people of Sri Lanka regardless of ethnicity and religious belief, including by investigating violations of human rights and the laws of war and holding perpetrators of such violations accountable; (B) implement the necessary political, economic, military, and legal reforms to enable economic recovery and to prevent conflict and future economic crises; (C) increase transparency and accountability in governance and combat corruption, including bringing to justice public officials who have engaged in significant acts of corruption; (D) assert its sovereignty against influence by the People's Republic of China; and (E) promote reconciliation between ethnic and religious groups, particularly arising from past conflict in Sri Lanka, as described under this section in the report accompanying this Act: Provided, That the limitations of this paragraph shall not apply to funds made available for humanitarian assistance and disaster response; to protect human rights, locate and identify missing persons, and assist victims of torture and trauma; to promote justice, accountability, and reconciliation; to enhance maritime security and domain awareness; to promote fiscal transparency and sovereignty; and for International Military Education and Training. (3) Limitation.--Funds appropriated by this Act that are made available for assistance for the Sri Lankan armed forces may only be made available for-- (A) international peacekeeping operations training; (B) humanitarian assistance and disaster response; (C) instruction in human rights and related curricula development; (D) maritime security and domain awareness, including professionalization and training for the navy and coast guard; and (E) programs and activities under the heading ``International Military Education and Training''. (4) Consultation.--Funds made available for assistance for Sri Lanka for international peacekeeping operations training shall be subject to prior consultation with the Committees on Appropriations. latin america and the caribbean Sec. 7045. (a) Assistance for Latin America and the Caribbean.-- (1) Assistance.--Funds appropriated by this Act under titles III and IV and made available for countries in Latin America and the Caribbean shall be prioritized for countries and programs that are-- (A) countering fentanyl and other narcotics trafficking; (B) respecting norms of democracy, constitutional order, and human rights; (C) cooperating in the countering of regional and global authoritarian threats; and (D) demonstrating commitment and progress in offsetting large-scale migration and human trafficking from or through the Western Hemisphere. (2) Strategic Priorities.--Not later than 30 days after the date of enactment of this Act, the Secretary of State shall consult with the appropriate congressional committees on a hemispheric plan to further the strategic priorities contained in paragraph (1): Provided, That such plan shall include baseline definitions for the requirements in subparagraphs (A), (B), (C), and (D). (b) Central America.-- (1) Assistance.--Funds appropriated under titles III and IV of this Act shall be made available for assistance for countries in Central America, including Panama and Costa Rica, and shall be allocated to address the unique circumstances of each country in support of United States security interests in the region. (2) Limitation on assistance to certain central governments.-- (A) Of the funds made available pursuant to paragraph (1), 60 percent of such funds that are made available for assistance for each of the central governments of El Salvador, Guatemala, and Honduras may only be obligated after the Secretary of State certifies and reports to the Committees on Appropriations that such government is-- (i) cooperating with the United States to counter drug trafficking, human trafficking and smuggling, and other transnational crime; (ii) cooperating with the United States and other governments in the region to facilitate the return, repatriation, and reintegration of migrants arriving at the southwest border of the United States who do not qualify for asylum, consistent with international law; (iii) taking demonstrable actions to secure national borders and stem mass migration towards Mexico and the United States, including positive governance related to combating crime and violence, building economic opportunity, improving services, and protecting human rights; (iv) improving strategies to combat money laundering and other global financial crimes, and counter corruption, including investigating and prosecuting government officials, military personnel, and police officers credibly alleged to be corrupt; (v) improving rule of law and taking positive steps to counter impunity; and (vi) improving the conditions for businesses to operate and invest, including investment-friendly tax reform, transparent and expeditious dispute resolution, and legal frameworks protecting private property rights. (B) Exceptions.--The limitation of subparagraph (A) shall not apply to funds appropriated by this Act that are made available for-- (i) judicial entities to combat corruption and impunity; (ii) investigation of human rights abuses; (iii) support for women's economic empowerment; (iv) prevention of violence against women and girls; (v) security assistance to combat transnational crime, including narcotics trafficking; (vi) security assistance to protect national borders; and (vii) security assistance associated with migration protection. (c) Colombia.-- (1) Pre-obligation report.--Prior to the initial obligation of funds appropriated by this Act and made available for assistance for Colombia, the Secretary of State shall submit a report to the appropriate congressional committees on the status of United States bilateral relations with the Government of Colombia, including analysis of how such Government's current policies align with United States national interests such as mitigating irregular migration; supporting rule of law, democracy and strong institutions; and countering narcotics trafficking, terrorist organizations, human trafficking, and antisemitism. (2) Withholding of funds.--Of the funds appropriated by this Act under the heading ``International Narcotics Control and Law Enforcement'' that are made available for assistance for Colombia, 30 percent may be obligated only if the Secretary of State certifies and reports to the Committees on Appropriations that in the previous 12 months the Government of Colombia has-- (A) reduced overall coca cultivation, production, and drug trafficking; (B) continued cooperating with the United States on joint counternarcotics operations; and (C) maintained extradition cooperation with the United States. (3) Limitation.--None of the funds appropriated by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs that are made available for assistance for Colombia may be made available for-- (A) reparation payments; (B) alternative development assistance on properties where substances deemed illegal under the Controlled Substance Act of 1970 are grown, produced, imported, or distributed; (C) compensation awarded to demobilized combatants through the implementation of the 2016 peace agreement between the Government of Colombia and illegal armed groups; and (D) agrarian cash subsidies. (4) Oversight.--Of the funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the heading ``Economic Support Fund'', up to $1,000,000 may be used by the Inspector General of the United States Agency for International Development for audits and other activities related to compliance with the limitations in paragraph (3)(B): Provided, That such funds are in addition to funds otherwise available for such purposes. (5) Authority.--Aircraft supported by funds made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs and made available for assistance for Colombia may be used to transport personnel and supplies involved in drug eradication and interdiction, including security for such activities. (d) Cuba.-- (1) Democracy programs.--Of the funds appropriated by this Act under the heading ``Economic Support Fund'', not less than $35,000,000 shall be made available to promote democracy and strengthen civil society in Cuba, including to support political prisoners, and shall be administered by the United States Agency for International Development, the National Endowment for Democracy, and the Bureau for Democracy Human Rights and Labor, Department of State: Provided, That no funds shall be obligated for business promotion, economic reform, entrepreneurship, or any other assistance that is not democracy building as expressly authorized in the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 and the Cuban Democracy Act of 1992. (2) Public diplomacy limitation.--None of the funds appropriated by this Act in title I and made available for public diplomacy programs may be made available for business promotion, economic reform, entrepreneurship, or any other activity or exchange in Cuba, or with Cuban nationals abroad, that is not democracy building as expressly authorized in the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 and the Cuban Democracy Act of 1992. (3) Prohibitions.-- (A) None of the funds appropriated or otherwise made available by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs may be used to revoke the designation of Cuba as a State Sponsor of Terrorism. (B) None of the funds appropriated or otherwise made available by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs may be used to eliminate or diminish the Cuba Restricted List as maintained by the Department of State, or to otherwise allow, facilitate or encourage financial transactions with entities on the Cuba Restricted List, as well as other entities or individuals within the Cuban military or Cuban intelligence services, high level members of the Communist Party, those licensed by the Cuban government, or the immediate family members of these entities or individuals. (e) Cuban Doctors.-- (1) Report.--Not later than 90 days after the date of enactment of this Act, the Secretary of State shall submit a report to the appropriate congressional committees listing the countries and international organizations for which the Secretary has credible information are directly paying the Government of Cuba for coerced and trafficked labor of Cuban medical professionals: Provided, That such report shall be submitted in unclassified form but may include a classified annex. (2) Designation.--The Secretary of State shall apply the requirements of section 7031(c) of this Act to officials from countries and organizations identified in the report required pursuant to the previous paragraph. (3) Limitation.-- (A) None of the funds appropriated by this Act under title III may be made available for assistance for the central government of a country or international organization that is listed in the report required by paragraph (1). (B) The Secretary may resume assistance to the government of a country or international organization listed in the report required by paragraph (1) if the Secretary determines and reports to the appropriate congressional committees that such government or international organization no longer pays the Government of Cuba for coerced and trafficked labor of Cuban medical professionals. (f) Facilitating Irresponsible Migration.-- (1) None of the funds appropriated or otherwise made available by this Act may be used to encourage, mobilize, publicize, or manage mass-migration caravans towards the United States southwest border: Provided, That not later than 180 days after the date of enactment of this Act, the Secretary of State shall report to the appropriate congressional committees with analysis on the organization and funding of mass-migration caravans in the Western Hemisphere. (2) Unless expressly authorized by a subsequent Act of Congress, none of the funds appropriated or otherwise made available by this Act may be made available-- (A) to designate foreign nationals residing in Mexico and awaiting entry into the United States on the Mexico side of the United States border as of May 19, 2023 for Priority 2 processing under the refugee resettlement priority system; (B) for the Safe Mobility Offices; and (C) for the Welcome Corps or any successor programs. (3) Of the funds appropriated by this Act under the heading ``Diplomatic Programs'' and made available for the Office of the Secretary, 15 percent shall be withheld from obligation until the Secretary of State reports to the appropriate congressional committees that negotiations have begun with each of the governments listed in section 302 of H.R. 2, as passed by the House of Representatives on May 5, 2023, to carry out the directives of such section: Provided, That such report shall detail the status of such negotiations with each government. (g) Haiti.-- (1) Assistance.--Funds appropriated by this Act under titles III and IV shall be made available for assistance for Haiti to support the basic needs of the Haitian people. (2) Certification.--Funds appropriated by this Act that are made available for assistance for Haiti may only be made available for the central Government of Haiti if the Secretary of State certifies and reports to the appropriate congressional committees by January 1, 2025 that elections have been scheduled or held in Haiti and it is in the national interest of the United States to provide such assistance. (3) Exceptions.--Notwithstanding paragraph (2), funds may be made available to support-- (A) democracy programs; (B) anti-gang police, and administration of justice programs, including to reduce pre-trial detention and eliminate inhumane prison conditions; (C) public health, food security, subsistence farmers, water and sanitation, education, and other programs to meet basic human needs; and (D) disaster relief and recovery. (4) Consultation.--Funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs that are made available for any new program, project, or activity in Haiti shall be subject to prior consultation with the Committees on Appropriations: Provided, That the requirement of this paragraph shall also apply to any funds from such Acts that are made available for support for an international security force in Haiti. (5) Haitian coast guard.--The Government of Haiti shall be eligible to purchase defense articles and services under the Arms Export Control Act (22 U.S.C. 2751 et seq.) for the Coast Guard. (h) Mexico.-- (1) Water deliveries.--None of the funds appropriated or otherwise made available by this Act may be made available for assistance for Mexico until the Secretary of State certifies and reports to the Committees on Appropriations that the United States and Mexico have entered into an agreement to balance the deficit of water deliveries to the United States by Mexico, as prescribed by Article 4, Section B of the Treaty Between the United States of America and Mexico Relating to the Utilization of Waters of the Colorado and Tijuana Rivers and of the Rio Grande, February 3, 1944 (59 Stat. 1219): Provided, That the limitation of this paragraph shall not apply to funds made available to counter the flow of fentanyl, fentanyl precursors, and other synthetic drugs into the United States. (2) Counternarcotics.--Of the funds appropriated by this Act under title IV that are made available for assistance for Mexico, 30 percent may only be obligated after the Secretary of State certifies and reports to the Committees on Appropriations that in the previous 12 months the Government of Mexico has taken steps to-- (A) reduce the amount of fentanyl arriving at the United States-Mexico border; (B) dismantle and hold accountable transnational criminal organizations; (C) support joint counternarcotics operations and intelligence sharing with United States counterparts; (D) respect extradition requests for criminals sought by the United States; and (E) increase counternarcotics engagement at both federal and state levels. (i) Nicaragua.--Of the funds appropriated by this Act under the heading ``Development Assistance'', not less than $15,000,000 shall be made available for democracy and religious freedom programs for Nicaragua. (j) Organization of American States.-- (1) The Secretary of State shall instruct the United States Permanent Representative to the Organization of American States (OAS) to use the voice and vote of the United States to: (A) implement budgetary reforms and efficiencies within the Organization; (B) eliminate arrears, increase other donor contributions, and impose penalties for successive late payment of assessments; (C) prevent programmatic and organizational redundancies and consolidate duplicative activities and functions; (D) prioritize areas in which the OAS has expertise, such as strengthening democracy, monitoring electoral processes, and protecting human rights; and (E) implement reforms within the Office of the Inspector General (OIG) to ensure the OIG has the necessary leadership, integrity, professionalism, independence, policies, and procedures to properly carry out its responsibilities in a manner that meets or exceeds best practices in the United States. (2) Prior to the obligation of funds appropriated by this Act and made available for an assessed contribution to the Organization of American States, but not later than 90 days after the date of enactment of this Act, the Secretary of State shall submit a report to the appropriate congressional committees on actions taken or planned to be taken pursuant to paragraph (1) that are in addition to actions taken during the preceding fiscal year, and the results of such actions. (k) The Caribbean.--Of the funds appropriated by this Act under titles III and IV, not less than $97,500,000 shall be made available for the Caribbean Basin Security Initiative: Provided, That funds made available above the fiscal year 2024 level shall be prioritized for countries within the transit zones of illicit drug shipments toward the United States that have increased interdiction of illicit drugs and are most directly impacted by the crisis in Haiti. (l) Venezuela.-- (1) Assistance.-- (A) Of the funds appropriated by this Act under the heading ``Economic Support Fund'', $50,000,000 shall be made available for democracy programs for Venezuela. (B) Of the funds made available pursuant to subparagraph (A), an amount equal to 50 percent of the amount made available in the previous fiscal year for elections programming shall be withheld from obligation until the Secretary of State determines and reports to the appropriate congressional committees that elections in 2024-- (i) allowed for the diaspora from Venezuela to participate; (ii) permitted credible, unobstructed international observation; and (iii) permitted opposition candidates selected through credible and democratic processes to participate. (C) Funds appropriated by this Act shall be made available for assistance for communities in countries supporting or otherwise impacted by migrants from Venezuela: Provided, That such amounts are in addition to funds otherwise made available for assistance for such countries and are subject to the regular notification procedures of the Committees on Appropriations. (2) Limitation.--None of the funds appropriated by this Act may be used to negotiate the lifting of sanctions on the purchase or trade of gold extracted from Venezuela until the Secretary of State submits a report to the appropriate congressional committees on human rights abuses, crimes against humanity involving Indigenous peoples, environmental harm, and patrimonial theft associated with state-sponsored and illegal gold extraction from Venezuela's Orinoco Mining Arc and in national parks and reserves in Venezuela, including the Canaima National Park, and following consultation with such committees. europe and eurasia Sec. 7046. (a) Section 907 of the Freedom Support Act.--Section 907 of the FREEDOM Support Act (22 U.S.C. 5812 note) shall not apply to-- (1) activities to support democracy or assistance under title V of the FREEDOM Support Act (22 U.S.C. 5851 et seq.) and section 1424 of the Defense Against Weapons of Mass Destruction Act of 1996 (50 U.S.C. 2333) or non-proliferation assistance; (2) any assistance provided by the Trade and Development Agency under section 661 of the Foreign Assistance Act of 1961; (3) any activity carried out by a member of the United States and Foreign Commercial Service while acting within his or her official capacity; (4) any insurance, reinsurance, guarantee, or other assistance provided by the United States International Development Finance Corporation as authorized by the BUILD Act of 2018 (division F of Public Law 115-254); (5) any financing provided under the Export-Import Bank Act of 1945 (Public Law 79-173); or (6) humanitarian assistance. (b) Territorial Integrity.--None of the funds appropriated by this Act may be made available for assistance for a government of an Independent State of the former Soviet Union if such government directs any action in violation of the territorial integrity or national sovereignty of any other Independent State of the former Soviet Union, such as those violations included in the Helsinki Final Act: Provided, That except as otherwise provided in section 7047(a) of this Act, funds may be made available without regard to the restriction in this subsection if the President determines that to do so is in the national security interest of the United States: Provided further, That prior to executing the authority contained in the previous proviso, the Secretary of State shall consult with the Committees on Appropriations on how such assistance supports the national security interest of the United States. (c) Turkey.--None of the funds made available by this Act may be used to facilitate or support the sale of defense articles or defense services to the Turkish Presidential Protection Directorate (TPPD) under chapter 2 of the Arms Export Control Act (22 U.S.C. 2761 et seq.) unless the Secretary of State determines and reports to the appropriate congressional committees that members of the TPPD who are named in the July 17, 2017, indictment by the Superior Court of the District of Columbia, and against whom there are pending charges, have returned to the United States to stand trial in connection with the offenses contained in such indictment or have otherwise been brought to justice: Provided, That the limitation in this paragraph shall not apply to the use of funds made available by this Act for border security purposes, for North Atlantic Treaty Organization or coalition operations, or to enhance the protection of United States officials and facilities in Turkey. (d) Ukraine.-- (1) Cost matching.--Funds appropriated by this Act under the headings ``Economic Support Fund'' and ``Assistance for Europe, Eurasia and Central Asia'' that are made available for contributions to the Government of Ukraine may not exceed 50 percent of the total amount provided for such assistance by all sources: Provided, That the President may waive the limitation in this paragraph if the President determines and reports to the appropriate congressional committees that to do so is in the national security interest of the United States, including a detailed justification for such determination and an explanation as to why other donors to the Government of Ukraine are unable to meet or exceed such level: Provided further, That following such determination, the President shall submit a report to the Speaker and Minority Leader of the House of Representatives, the Majority and Minority Leaders of the Senate, and the appropriate congressional committees every 120 days while assistance is provided in reliance on the determination under the previous proviso detailing steps taken by the Department of State to increase other donor contributions and an update on the status of such contributions: Provided further, That the requirements of this paragraph shall continue in effect until funds made available by this Act pursuant to this paragraph have been expended. (2) Oversight.-- (A) Staffing.--Funds appropriated under titles I and II of this Act shall be made available to support the appropriate level of staff in Ukraine and neighboring countries to conduct effective monitoring and oversight of United States foreign assistance and ensure the safety and security of United States personnel, consistent with the strategy required in paragraph (1). (B) In-person monitoring.--The Secretary of State shall, to the maximum extent practicable, ensure that funds appropriated by this Act under the headings ``Economic Support Fund'', ``Assistance for Europe, Eurasia and Central Asia'', ``International Narcotics Control and Law Enforcement'', and ``Nonproliferation, Anti-terrorism, Demining and Related Programs'' and made available for project-based assistance for Ukraine are subject to in-person monitoring by United States personnel or by vetted third party monitors. (C) Certification.--Not later than 15 days prior to the initial obligation of funds appropriated by this Act and made available for assistance for Ukraine under the headings ``Economic Support Fund'', ``Assistance for Europe, Eurasia and Central Asia'', ``International Narcotics Control and Law Enforcement'', ``Nonproliferation, Anti-terrorism, Demining and Related Programs'', and ``Foreign Military Financing Program'', the Secretary of State and the USAID Administrator shall jointly certify and report to the appropriate congressional committees that mechanisms for monitoring and oversight of funds are in place and functioning to ensure accountability of such funds to prevent waste, fraud, abuse, diversion, and corruption, including mechanisms such as use of third-party monitors, enhanced end-use monitoring, external and independent audits and evaluations, randomized spot checks, and regular reporting on outcomes achieved and progress made toward stated program objectives, consistent with the strategy required in paragraph (1): Provided, That section 7015(e) of this Act shall apply to the certification requirement of this subparagraph. (D) Notification.--The requirements of section 1706 of the Additional Ukraine Supplemental Appropriations Act, 2023 (division M of Public Law 117-328) shall apply to funds appropriated by this Act under titles I through IV that are made available for assistance for Ukraine. (E) Reports.-- (i) Not later than 60 days after the date of enactment of this Act and every 90 days thereafter until all funds appropriated by this Act and made available for Ukraine have been expended, the Secretary of State and the USAID Administrator shall provide a comprehensive report to the appropriate congressional committees on assistance made available for Ukraine since February 24, 2022, in this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs: Provided, That such report shall include the total amount of such funds, disaggregated by account and fiscal year, that remain unobligated, are obligated but unexpended, and are committed but not yet notified. (ii) Not later than 90 days after the date of enactment of this Act and every 90 days thereafter until all funds appropriated by this Act and made available for Ukraine have been expended, the Secretary of State and the USAID Administrator shall jointly report to the appropriate congressional committees on the use and planned uses of funds made available during fiscal year 2025 for assistance for Ukraine, including categories and amounts, the intended results and the results achieved, a summary of other donor contributions, and a description of the efforts undertaken by the Secretary and Administrator to increase other donor contributions: Provided, That such reports shall also include the metrics established to measure such results, and determine effectiveness of funds provided, and a detailed description of coordination and information sharing with the Offices of the Inspectors General, including a full accounting of any reported allegations of waste, fraud, abuse, and corruption, steps taken to verify such allegations, and steps taken to address all verified allegations. (F) Transparency.--The reports required under this subsection shall be made publicly available consistent with the requirements of section 7016(b) of this Act. countering russian influence and aggression Sec. 7047. (a) Prohibition.--None of the funds appropriated by this Act may be made available for assistance for the central Government of the Russian Federation. (b) Annexation of Territory.-- (1) Prohibition.--None of the funds appropriated by this Act may be made available for assistance for the central government of a country that the Secretary of State determines and reports to the Committees on Appropriations has taken affirmative steps intended to support or be supportive of the Russian Federation annexation of Crimea or other territory in Ukraine: Provided, That except as otherwise provided in subsection (a), the Secretary may waive the restriction on assistance required by this paragraph if the Secretary determines and reports to such Committees that to do so is in the national interest of the United States, and includes a justification for such interest. (2) Limitation.--None of the funds appropriated by this Act may be made available for-- (A) the implementation of any action or policy that recognizes the sovereignty of the Russian Federation over Crimea or other territory in Ukraine; (B) the facilitation, financing, or guarantee of United States Government investments in Crimea or other territory in Ukraine under the control of the Russian Federation or Russian-backed forces, if such activity includes the participation of Russian Government officials, or other Russian owned or controlled financial entities; or (C) assistance for Crimea or other territory in Ukraine under the control of the Russian Federation or Russian-backed forces, if such assistance includes the participation of Russian Government officials, or other Russian owned or controlled financial entities. (3) International financial institutions.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice and vote of the United States to oppose any assistance by such institution (including any loan, credit, grant, or guarantee) for any program that violates the sovereignty or territorial integrity of Ukraine. (4) Duration.--The requirements and limitations of this subsection shall cease to be in effect if the Secretary of State determines and reports to the Committees on Appropriations that the Government of Ukraine has reestablished sovereignty over Crimea and other territory in Ukraine under the control of the Russian Federation or Russian-backed forces. (c) Occupation of the Georgian Territories of Abkhazia and Tskhinvali Region/South Ossetia.-- (1) Prohibition.--None of the funds appropriated by this Act may be made available for assistance for the central government of a country that the Secretary of State determines and reports to the Committees on Appropriations has recognized the independence of, or has established diplomatic relations with, the Russian Federation occupied Georgian territories of Abkhazia and Tskhinvali Region/South Ossetia: Provided, That the Secretary shall publish on the Department of State website a list of any such central governments in a timely manner: Provided further, That the Secretary may waive the restriction on assistance required by this paragraph if the Secretary determines and reports to the Committees on Appropriations that to do so is in the national interest of the United States, and includes a justification for such interest. (2) Limitation.--None of the funds appropriated by this Act may be made available to support the Russian Federation occupation of the Georgian territories of Abkhazia and Tskhinvali Region/South Ossetia. (3) International financial institutions.--The Secretary of the Treasury shall instruct the United States executive director of each international financial institution to use the voice and vote of the United States to oppose any assistance by such institution (including any loan, credit, grant, or guarantee) for any program that violates the sovereignty and territorial integrity of Georgia. (d) Countering Russian Influence Fund.--Of the funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the headings ``Assistance for Europe, Eurasia and Central Asia'', ``International Narcotics Control and Law Enforcement'', ``International Military Education and Training'', and ``Foreign Military Financing Program'', not less than $300,000,000 shall be made available to carry out the purposes of the Countering Russian Influence Fund, as authorized by section 254 of the Countering Russian Influence in Europe and Eurasia Act of 2017 (Public Law 115-44; 22 U.S.C. 9543) and notwithstanding the country limitation in subsection (b) of such section, and programs to enhance the capacity of law enforcement and security forces in countries in Europe, Eurasia, and Central Asia and strengthen security cooperation between such countries and the United States and the North Atlantic Treaty Organization, as appropriate: Provided, That funds made available pursuant to this paragraph under the heading ``Foreign Military Financing Program'' may remain available until September 30, 2026. united nations and other international organizations Sec. 7048. (a) Transparency and Accountability.--Of the funds appropriated by this Act that are available for contributions to the United Nations (including the Department of Peacekeeping Operations), international organizations, or any United Nations agency, 15 percent may not be obligated for such organization, department, or agency until the Secretary of State determines and reports to the appropriate congressional committees that the organization, department, or agency is-- (1) posting on a publicly available website, consistent with privacy regulations and due process, regular financial and programmatic audits of such organization, department, or agency, and providing the United States Government with necessary access to such financial and performance audits; (2) effectively implementing and enforcing policies and procedures which meet or exceed best practices in the United States for the protection of whistleblowers from retaliation, including-- (A) protection against retaliation for internal and lawful public disclosures; (B) legal burdens of proof; (C) statutes of limitation for reporting retaliation; (D) access to binding independent adjudicative bodies, including shared cost and selection of external arbitration; and (E) results that eliminate the effects of proven retaliation, including provision for the restoration of prior employment; and (3) effectively implementing and enforcing policies and procedures on the appropriate use of travel funds, including restrictions on first-class and business-class travel; (4) taking credible steps to combat anti-Israel bias; (5) developing and implementing mechanisms to inform donors of instances in which funds have been diverted or destroyed and an explanation of the response by the respective international organization; and (6) implementing policies and procedures to effectively vet staff for any affiliation with a terrorist organization. (b) Restrictions on United Nations Delegations and Organizations.-- (1) Restrictions on united states delegations.--None of the funds made available by this Act may be used to pay expenses for any United States delegation to any specialized agency, body, or commission of the United Nations if such agency, body, or commission is chaired or presided over by a country, the government of which the Secretary of State has determined, for purposes of section 1754(c) of the Export Reform Control Act of 2018 (50 U.S.C. 4813(c)), supports international terrorism. (2) Restrictions on contributions.--None of the funds made available by this Act may be used by the Secretary of State as a contribution to any organization, agency, commission, or program within the United Nations system if such organization, agency, commission, or program is chaired or presided over by a country the government of which the Secretary of State has determined, for purposes of section 620A of the Foreign Assistance Act of 1961, section 40 of the Arms Export Control Act, section 1754(c) of the Export Reform Control Act of 2018 (50 U.S.C. 4813(c)), or any other provision of law, is a government that has repeatedly provided support for acts of international terrorism. (c) United Nations Human Rights Council.-- (1) None of the funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available in support of the United Nations Human Rights Council unless the Secretary of State determines and reports to the appropriate congressional committees that participation in the Council is important to the national security interest of the United States and that such Council is taking significant steps to remove Israel as a permanent agenda item and ensure integrity in the election of members to such Council: Provided, That such report shall include a description of the national security interest served and provide a detailed reform agenda, including a timeline to remove Israel as a permanent agenda item and ensure integrity in the election of members to such Council: Provided further, That the Secretary of State shall withhold, from funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the heading ``Contributions to International Organizations'' for a contribution to the United Nations Regular Budget, the United States proportionate share of the total annual amount of the United Nations Regular Budget funding for the United Nations Human Rights Council until such determination and report is made: Provided further, That if the Secretary is unable to make such determination and report, such amounts may be reprogrammed for purposes other than the United Nations Regular Budget, subject to the regular notification procedures of the Committees on Appropriations: Provided further, That the Secretary shall report to the Committees on Appropriations not later than September 30, 2025, on the resolutions considered in the United Nations Human Rights Council during the previous 12 months, and on steps taken to remove Israel as a permanent agenda item and to improve the quality of membership through competitive elections. (2) None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available for a contribution, grant, or other payment to the United Nations International Commission of Inquiry on the Occupied Palestinian Territory, including East Jerusalem, and Israel, notwithstanding any other provision of law. (d) United Nations Relief And Works Agency.-- (1) None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available-- (A) for a contribution, grant, or other payment to the United Nations Relief and Works Agency (UNRWA), notwithstanding any other provision of law; or (B) to solicit or otherwise encourage funds for UNRWA from other donors and sources, notwithstanding any other provision of law. (2) Not later than 45 days after the date of enactment of this Act, the Secretary of State shall submit a transition plan to the appropriate congressional committees for providing assistance in the Middle East without direct or indirect funding to, or support from, UNRWA. (e) Prohibition of Payments to United Nations Members.--None of the funds appropriated or made available pursuant to titles III through VI of this Act for carrying out the Foreign Assistance Act of 1961, may be used to pay in whole or in part any assessments, arrearages, or dues of any member of the United Nations or, from funds appropriated by this Act to carry out chapter 1 of part I of the Foreign Assistance Act of 1961, the costs for participation of another country's delegation at international conferences held under the auspices of multilateral or international organizations. (f) Report.--Not later than 45 days after the date of enactment of this Act, the Secretary of State shall submit a report to the Committees on Appropriations detailing the amount of funds available for obligation or expenditure in fiscal year 2025 for contributions to any organization, department, agency, or program within the United Nations system or any international program that are withheld from obligation or expenditure due to any provision of law: Provided, That the Secretary shall update such report each time additional funds are withheld by operation of any provision of law: Provided further, That the reprogramming of any withheld funds identified in such report, including updates thereof, shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. (g) Sexual Exploitation and Abuse in Peacekeeping Operations.--The Secretary of State shall, to the maximum extent practicable, withhold assistance to any unit of the security forces of a foreign country if the Secretary has credible information that such unit has engaged in sexual exploitation or abuse, including while serving in a United Nations peacekeeping operation, until the Secretary determines that the government of such country is taking effective steps to hold the responsible members of such unit accountable and to prevent future incidents: Provided, That the Secretary shall promptly notify the government of each country subject to any withholding of assistance pursuant to this paragraph, and shall notify the appropriate congressional committees of such withholding not later than 10 days after a determination to withhold such assistance is made: Provided further, That the Secretary shall, to the maximum extent practicable, assist such government in bringing the responsible members of such unit to justice. (h) Additional Availability.--Subject to the regular notification procedures of the Committees on Appropriations, funds appropriated by this Act which are returned or not made available due to the second proviso under the heading ``Contributions for International Peacekeeping Activities'' in title I of this Act or section 307(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2227(a)), shall remain available for obligation until September 30, 2026: Provided, That the requirement to withhold funds for programs in Burma under section 307(a) of the Foreign Assistance Act of 1961 shall not apply to funds appropriated by this Act. (i) Procurement Restrictions.--None of the funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be used for the procurement by any entity of the United Nations system or any other multilateral organization of goods or services originating in, or produced by, any person in the Russian Federation, including any entity that is a shell or front company organized to disguise or obscure financial activity relating to such goods or services except when required for health and safety-related activities. (j) Accountability Requirement.--Prior to the initial obligation of funds appropriated by this Act and made available for any international organization that failed to enter into written agreements pursuant to section 7048(h) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2024 (division F of Public Law 118-47), the Secretary of State, in coordination with the Administrator of the United States Agency for International Development shall submit to the Committees on Appropriations a report justifying such obligation and the policies and procedures in place to provide enhanced oversight of such international organization. (k) World Health Organization.--None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available for a contribution, grant, or other payment to the World Health Organization. (l) International Conventions.-- (1) None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs shall be made available to implement or support any international convention, agreement, protocol, legal instrument, or agreed outcome with legal force drafted by the intergovernmental negotiating body of the World Health Assembly or any other United Nations body until such instrument has been subject to the requirements of Article II, Section 2, Clause 2 of the Constitution of the United States, which requires the advice and consent of the Senate, with two-thirds of Senators concurring. (2) None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs and designated for global health security may be obligated after such date the President, his designee, or any other United States official, signs, accedes to, accepts, approves, ratifies, or otherwise renders itself legally bound to, by executive agreement or otherwise, any convention, agreement, or other international instrument on pandemic prevention, preparedness, and response reached by the World Health Assembly without first submitting such convention, agreement, or instrument to the Senate as a treaty that is subject to the requirements of Article II, Section 2, Clause 2 of the Constitution of the United States, and receiving the advice and consent of the Senate to that instrument. (m) IVerify.--None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available to support iVerify or any other fact-checking tool of the United Nations Development Programme or any other international organization. (n) International Court of Justice.--None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available for a contribution, grant, or other payment to the International Court of Justice, notwithstanding any other provision of law. (o) International Criminal Court.--None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available for a contribution, grant, or other payment to the International Criminal Court, notwithstanding any other provision of law. (p) Arms Trade Treaty.--None of the funds appropriated or otherwise made available by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be obligated or expended to implement the Arms Trade Treaty until the Senate approves a resolution of ratification for the Treaty. prohibition on censorship Sec. 7049. (a) Restriction.--(1) Funds appropriated or otherwise made available by this Act for programs to counter foreign propaganda and disinformation, and for related purposes, may only be made available for the purpose of countering such efforts by foreign state and non-state actors abroad. (2) None of the funds made available for the programs described in paragraph (1) may be used to-- (A) characterize United States independent news media companies as creators of disinformation, misinformation, or malinformation; (B) advocate to, or act to, censor, filter, or remove content from a United States entity on social media platforms; or (C) take any action designed to influence consumer or advertising behavior toward United States media companies or social network platforms. (b) Global Engagement Center Limitation.--None of the funds appropriated by this Act under the heading ``Diplomatic Programs'' may be made available to carry out the functions of the Global Engagement Center established pursuant to section 1287 of the National Defense Authorization Act for Fiscal Year 2017 (22 U.S.C. 2656 note) beyond the termination date specified in subsection (j) of such Act unless expressly authorized by a subsequent Act of Congress. global internet freedom Sec. 7050. (a) Funding.--Of the funds available for obligation during fiscal year 2025 under the headings ``International Broadcasting Operations'', ``Economic Support Fund'', ``Democracy Fund'', and ``Assistance for Europe, Eurasia and Central Asia'', not less than $94,000,000 shall be made available for programs to promote Internet freedom globally, consistent with section 9707 of the Department of State Authorization Act of 2022 (title XCVII of division I of Public Law 117-263). (b) Coordination and Spend Plans.--After consultation among the relevant agency heads to coordinate and de-conflict planned activities, but not later than 90 days after the date of enactment of this Act, the Secretary of State and the Chief Executive Officer of the United States Agency for Global Media, in consultation with the President of the Open Technology Fund, shall submit to the Committees on Appropriations spend plans for funds made available by this Act for programs to promote Internet freedom globally, which shall include a description of safeguards established by relevant agencies to ensure that such programs are not used for illicit purposes: Provided, That the Department of State spend plan shall include funding for all such programs for all relevant Department of State and United States Agency for International Development offices and bureaus. torture and other cruel, inhuman, or degrading treatment or punishment Sec. 7051. None of the funds made available by this Act may be used to support or justify the use of torture and other cruel, inhuman, or degrading treatment or punishment by any official or contract employee of the United States Government. aircraft transfer, coordination, and use Sec. 7052. (a) Transfer Authority.--Notwithstanding any other provision of law or regulation, aircraft procured with funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the headings ``Diplomatic Programs'', ``International Narcotics Control and Law Enforcement'', ``Andean Counterdrug Initiative'', and ``Andean Counterdrug Programs'' may be used for any other program and in any region. (b) Property Disposal.--The authority provided in subsection (a) shall apply only after the Secretary of State determines and reports to the Committees on Appropriations that the equipment is no longer required to meet programmatic purposes in the designated country or region: Provided, That any such transfer shall be subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations. (c) Aircraft Coordination.-- (1) Authority.--The uses of aircraft purchased or leased by the Department of State and the United States Agency for International Development with funds made available in this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs shall be coordinated under the authority of the appropriate Chief of Mission: Provided, That such aircraft may be used to transport, on a reimbursable or non-reimbursable basis, Federal and non-Federal personnel supporting Department of State and USAID programs and activities: Provided further, That official travel for other agencies for other purposes may be supported on a reimbursable basis, or without reimbursement when traveling on a space available basis: Provided further, That funds received by the Department of State in connection with the use of aircraft owned, leased, or chartered by the Department of State may be credited to the Working Capital Fund of the Department and shall be available for expenses related to the purchase, lease, maintenance, chartering, or operation of such aircraft. (2) Scope.--The requirement and authorities of this subsection shall only apply to aircraft, the primary purpose of which is the transportation of personnel. (d) Aircraft Operations and Maintenance.--To the maximum extent practicable, the costs of operations and maintenance, including fuel, of aircraft funded by this Act shall be borne by the recipient country. parking fines and real property taxes owed by foreign governments Sec. 7053. The terms and conditions of section 7055 of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2010 (division F of Public Law 111-117) shall apply to this Act: Provided, That subsection (f)(2)(B) of such section shall be applied by substituting ``September 30, 2024'' for ``September 30, 2009''. international monetary fund Sec. 7054. (a) Extensions.--The terms and conditions of sections 7086(b)(1) and (2) and 7090(a) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2010 (division F of Public Law 111-117) shall apply to this Act. (b) Repayment.--The Secretary of the Treasury shall instruct the United States Executive Director of the International Monetary Fund (IMF) to seek to ensure that any loan will be repaid to the IMF before other private or multilateral creditors. extradition Sec. 7055. (a) Limitation.--None of the funds appropriated in this Act may be used to provide assistance (other than funds provided under the headings ``Development Assistance'', ``International Disaster Assistance'', ``Complex Crises Fund'', ``International Narcotics Control and Law Enforcement'', ``Migration and Refugee Assistance'', ``United States Emergency Refugee and Migration Assistance Fund'', and ``Nonproliferation, Anti-terrorism, Demining and Related Assistance'') for the central government of a country which has notified the Department of State of its refusal to extradite to the United States any individual indicted for a criminal offense for which the maximum penalty is life imprisonment without the possibility of parole or for killing a law enforcement officer, as specified in a United States extradition request. (b) Clarification.--Subsection (a) shall only apply to the central government of a country with which the United States maintains diplomatic relations and with which the United States has an extradition treaty and the government of that country is in violation of the terms and conditions of the treaty. (c) Waiver.--The Secretary of State may waive the restriction in subsection (a) on a case-by-case basis if the Secretary certifies to the Committees on Appropriations that such waiver is important to the national interest of the United States. enterprise funds Sec. 7056. (a) Notification.--None of the funds made available under titles III through VI of this Act may be made available for Enterprise Funds unless the appropriate congressional committees are notified at least 15 days in advance. (b) Distribution of Assets Plan.--Prior to the distribution of any assets resulting from any liquidation, dissolution, or winding up of an Enterprise Fund, in whole or in part, the President shall submit to the appropriate congressional committees a plan for the distribution of the assets of the Enterprise Fund. (c) Transition or Operating Plan.--Prior to a transition to and operation of any private equity fund or other parallel investment fund under an existing Enterprise Fund, the President shall submit such transition or operating plan to the appropriate congressional committees. limitations related to global health assistance Sec. 7057. (a) None of the funds appropriated or otherwise made available by this Act may be made available for the United Nations Population Fund. (b) None of the funds appropriated or otherwise made available by this Act for global health assistance may be made available to any foreign nongovernmental organization that promotes or performs abortion, except in cases of rape or incest or when the life of the mother would be endangered if the fetus were carried to term. global health activities Sec. 7058. (a) In General.--Funds appropriated by titles III and IV of this Act that are made available for bilateral assistance for child survival activities or disease programs including activities relating to research on, and the prevention, treatment and control of, HIV/AIDS may be made available notwithstanding any other provision of law except for provisions under the heading ``Global Health Programs'' and the United States Leadership Against HIV/AIDS, Tuberculosis, and Malaria Act of 2003 (117 Stat. 711; 22 U.S.C. 7601 et seq.), as amended. (b) Limitation.--Of the funds appropriated by this Act, not more than $461,000,000 may be made available for family planning/ reproductive health. (c) Pandemics and Other Infectious Disease Outbreaks.-- (1) Global health security.--Funds appropriated by this Act under the heading ``Global Health Programs'' shall be made available for global health security programs to accelerate the capacity of countries to prevent, detect, and respond to infectious disease outbreaks, including by strengthening public health capacity where there is a high risk of emerging zoonotic infectious diseases: Provided, That not later than 60 days after the date of enactment of this Act, the Administrator of the United States Agency for International Development and the Secretary of State, as appropriate, shall consult with the Committees on Appropriations on the planned uses of such funds. (2) Extraordinary measures.--If the Secretary of State determines and reports to the Committees on Appropriations that an international infectious disease outbreak is sustained, severe, and is spreading internationally, or that it is in the national interest to respond to a Public Health Emergency of International Concern, not to exceed an aggregate total of $200,000,000 of the funds appropriated by this Act under the headings ``Global Health Programs'', ``Development Assistance'', ``International Disaster Assistance'', ``Complex Crises Fund'', ``Economic Support Fund'', ``Democracy Fund'', ``Assistance for Europe, Eurasia and Central Asia'', ``Migration and Refugee Assistance'', and ``Millennium Challenge Corporation'' may be made available to combat such infectious disease or public health emergency, and may be transferred to, and merged with, funds appropriated under such headings for the purposes of this paragraph. (3) Emergency reserve fund.--Up to $50,000,000 of the funds made available under the heading ``Global Health Programs'' may be made available for the Emergency Reserve Fund established pursuant to section 7058(c)(1) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2017 (division J of Public Law 115-31): Provided, That such funds shall be made available under the same terms and conditions of such section. (4) Consultation and notification.--Funds made available by this subsection shall be subject to prior consultation with the appropriate congressional committees and the regular notification procedures of the Committees on Appropriations. (d) Limitation.--Notwithstanding any other provision of law, none of the funds made available by this Act may be made available to support directly or indirectly-- (1) the Wuhan Institute of Virology located in the City of Wuhan in the People's Republic of China; (2) the EcoHealth Alliance, Inc.; (3) any laboratory owned or controlled by the governments of the People's Republic of China, the Republic of Cuba, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Russian Federation, the Bolivarian Republic of Venezuela under the regime of Nicolas Maduro Moros, or any other country determined by the Secretary of State to be a foreign adversary; or (4) gain-of-function research. (e) Childhood Cancer.--Funds appropriated under titles III and VI of this Act may be made available for public-private partnerships, including in coordination with relevant multilateral organizations and research entities, to address childhood cancer: Provided, That the Secretary and Administrator shall consult with the appropriate congressional committees on uses of funds for such partnerships. women's equality and empowerment Sec. 7059. (a) In General.--Funds appropriated by this Act shall be made available to promote the equality and empowerment of women and girls in United States Government diplomatic and development efforts by raising the status, increasing the economic participation and opportunities for political leadership, and protecting the rights of women and girls worldwide. (b) Women's Economic Empowerment.--Of the funds appropriated under title III of this Act, $200,000,000 shall be made available to expand economic opportunities for women by increasing the number and capacity of women-owned enterprises, improving property rights for women, increasing women's access to financial services and capital, enhancing the role of women in economic decision-making at the local, national, and international levels, and improving women's ability to participate in the global economy, including through implementation of the Women's Entrepreneurship and Economic Empowerment Act of 2018 (Public Law 115- 428): Provided, That the Secretary of State and the Administrator of the United States Agency for International Development, as applicable, shall consult with the Committees on Appropriations on the uses of funds made available pursuant to this subsection. (c) Women's Leadership Program.--Of the funds appropriated under title III of this Act, not less than $50,000,000 shall be made available for the Madeleine K. Albright Women's Leadership Program, as established by section 7059(b) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2023 (division K of Public Law 117-328) for programs specifically designed to increase leadership opportunities for women in countries where women and girls suffer discrimination due to law, policy, or practice, by strengthening protections for women's political status, expanding women's participation in political parties and elections, and increasing women's opportunities for leadership positions in the public and private sectors at the local, provincial, and national levels. (d) Prevention of Violence Against Women and Girls.-- (1) Of the funds appropriated under titles III and IV of this Act, not less than $250,000,000 shall be made available to prevent and respond to violence against women and girls. (2) Funds appropriated under titles III and IV of this Act that are available to train foreign police, judicial, and military personnel, including for international peacekeeping operations, shall address, where appropriate, prevention and response to violence against women and girls and trafficking in persons, and shall promote the integration of women into the police and other security forces. (3) Funds made available pursuant to this subsection should include efforts to combat a variety of forms of violence against women and girls, including child marriage, rape, and female genital cutting and mutilation. (e) Women, Peace, and Security.--Of the funds appropriated by this Act under the headings ``Development Assistance'', ``Economic Support Fund'', ``Assistance for Europe, Eurasia and Central Asia'', and ``International Narcotics Control and Law Enforcement'', $150,000,000 should be made available to support a multi-year strategy to expand, and improve coordination of, United States Government efforts to empower women as equal partners in conflict prevention, peace building, transitional processes, and reconstruction efforts in countries affected by conflict or in political transition, and to ensure the equal provision of relief and recovery assistance to women and girls. (f) Prohibition.--None of the funds appropriated by this Act may be made available for the Gender Equity and Equality Action Fund. sector allocations Sec. 7060. (a) Basic Education and Higher Education.-- (1) Basic education.-- (A) Of the funds appropriated under title III of this Act, not less than $922,000,000 shall be made available for the Nita M. Lowey Basic Education Fund: Provided, That such funds shall also be used for secondary education activities: Provided further, That of the funds made available by this paragraph, $150,000,000 should be available for the education of girls in areas of conflict. (B) Of the funds appropriated under title III of this Act for assistance for basic education programs, not less than $152,000,000 shall be made available for contributions to multilateral partnerships that support education. (2) Higher education.--Of the funds appropriated by title III of this Act, not less than $271,000,000 shall be made available for assistance for higher education: Provided, That of such amount, not less than $33,000,000 shall be made available for new and ongoing partnerships between higher education institutions in the United States and developing countries focused on building the capacity of higher education institutions and systems in developing countries: Provided further, That of such amount and in addition to the previous proviso, not less than $50,000,000 shall be made available for higher education programs pursuant to section 7060(a)(3) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2021 (division K of Public Law 116-260). (b) Conservation.-- (1) Biodiversity.--Of the funds appropriated under title III of this Act, not less than $365,750,000 shall be made available for biodiversity conservation programs. (2) Wildlife Poaching and Trafficking.-- (A) Of the funds appropriated under titles III and IV of this Act, not less than $118,750,000 shall be made available to combat the transnational threat of wildlife poaching and trafficking. (B) None of the funds appropriated under title IV of this Act may be made available for training or other assistance for any military unit or personnel that the Secretary of State determines has been credibly alleged to have participated in wildlife poaching or trafficking, unless the Secretary reports to the appropriate congressional committees that to do so is in the national security interest of the United States. (c) Development Programs.--Of the funds appropriated by this Act under the heading ``Development Assistance'', not less than $18,500,000 shall be made available for United States Agency for International Development cooperative development programs and not less than $31,500,000 shall be made available for the American Schools and Hospitals Abroad program. (d) Disability Programs.--Funds appropriated by this Act under the heading ``Development Assistance'' shall be made available for programs and activities administered by USAID to address the needs of, and protect and promote the rights of, people with disabilities in developing countries. (e) Food Security and Agricultural Development.--Of the funds appropriated by title III of this Act, not less than $960,000,000 shall be made available for food security and agricultural development programs to carry out the purposes of the Global Food Security Act of 2016 (Public Law 114-195), including for the Feed the Future Innovation Labs: Provided, That funds may be made available for a contribution as authorized by section 3202 of the Food, Conservation, and Energy Act of 2008 (Public Law 110-246), as amended by section 3310 of the Agriculture Improvement Act of 2018 (Public Law 115-334). (f) Micro, Small, and Medium-Sized Enterprises.--Of the funds appropriated by this Act, not less than $252,000,000 shall be made available to support the development of, and access to financing for, micro, small, and medium-sized enterprises that benefit the poor, especially women. (g) Programs to Combat Trafficking in Persons.-- (1) In general.--Of the funds appropriated by this Act under the headings ``Development Assistance'', ``Economic Support Fund'', ``Assistance for Europe, Eurasia and Central Asia'', and ``International Narcotics Control and Law Enforcement'', not less than $123,400,000 shall be made available for activities to combat trafficking in persons internationally, including for the Program to End Modern Slavery, of which not less than $92,000,000 shall be from funds made available under the heading ``International Narcotics Control and Law Enforcement'': Provided, That funds made available by this Act under the headings ``Development Assistance'', ``Economic Support Fund'', and ``Assistance for Europe, Eurasia and Central Asia'' that are made available for activities to combat trafficking in persons should be obligated and programmed consistent with the country-specific recommendations included in the annual Trafficking in Persons Report, and shall be coordinated with the Office to Monitor and Combat Trafficking in Persons, Department of State: Provided further, That such funds are in addition to funds made available by this Act under the heading ``Diplomatic Programs'' for the Office to Monitor and Combat Trafficking in Persons: Provided further, That funds made available by this Act shall be made available to further develop, standardize, and update training for all United States Government personnel under Chief of Mission authority posted at United States embassies and consulates abroad on recognizing signs of human trafficking and protocols for reporting such cases. (2) Conferences.--Funds appropriated by this Act that are made available to organize or host international conferences should not be made available for such conferences in Tier 3 countries, as defined by section 104 of the Victims of Trafficking and Violence Protection Act of 2000 (Public Law 106-386), unless the purpose of such conference is to combat human trafficking or it is in the national interest of the United States, and any such use of funds shall be subject to prior consultation with the Committees on Appropriations. (3) Certification.--The Secretary of State shall certify and report to the appropriate congressional committees not later than 30 days after the date of enactment of this Act that-- (A) all employees of the Department of State and USAID were provided Counter Trafficking in Persons codes of conduct and training during fiscal year 2024; and (B) the Department of State and USAID included Counter Trafficking in Persons stipulations in all applicable binding funding and procurement documents with awardees, contractors, and grantees in fiscal year 2024: Provided, That the contractors and subcontractors of commercial items and services as defined in Part 2.101 of the Federal Acquisition Regulation are exempted. (4) Report.--Not later than 90 days after the date of enactment of this Act, the Secretary of State and the Administrator of USAID shall report to the appropriate congressional committees on how all grants and contracts awarded in the prior fiscal year are compliant with applicable requirements within title I of Public Law 106-386. (5) Oversight.--Of the funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the heading ``Economic Support Fund'', up to $1,000,000 may be used by the Inspectors General of the Department of State and the United States Agency for International Development for audits and other activities related to compliance with subparagraphs (A) and (B) of paragraph (3): Provided, That the Secretary of State and Administrator of USAID shall ensure that requirements related to title I of Public Law 106-386 flow down to awards, contracts, grants, and sub-derivatives of such funding relationships, subject to standard waiver exceptions. (h) Water and Sanitation.--Of the funds appropriated by this Act, not less than $451,000,000 shall be made available for water supply and sanitation projects pursuant to section 136 of the Foreign Assistance Act of 1961, of which not less than $225,500,000 shall be for programs in sub-Saharan Africa. (i) Deviation.--Unless otherwise provided for by this Act, the Secretary of State and the USAID Administrator, as applicable, may deviate below the minimum funding requirements designated in sections 7059 and 7060 of this Act by up to 10 percent, notwithstanding such designation: Provided, That such deviations shall only be exercised to address unforeseen or exigent circumstances: Provided further, That concurrent with the submission of the report required by section 653(a) of the Foreign Assistance Act of 1961, the Secretary shall submit to the Committees on Appropriations in writing any proposed deviations utilizing such authority that are planned at the time of submission of such report: Provided further, That any deviations proposed subsequent to the submission of such report shall be subject to prior consultation with such Committees: Provided further, That not later than November 1, 2026, the Secretary of State shall submit a report to the Committees on Appropriations on the use of the authority of this subsection. limitations related to environment programs Sec. 7061. (a) Green Climate Fund.--None of the funds appropriated or otherwise made available by this Act may be made available as a contribution, grant, or any other payment to the Green Climate Fund. (b) Clean Technology Fund.--None of the funds appropriated or otherwise made available by this Act may be made available as a contribution, grant, or any other payment to the Clean Technology Fund. (c) Climate Damages.--None of the funds appropriated or otherwise made available by this Act may be made available for the Loss and Damage Fund or to pay compensation to any country, organization, or individual for loss and damages attributed to climate change. (d) Attribution.--Funds appropriated by this Act and made available for the sectors and programs in sections 7032, 7059, and 7060 shall not be attributed to, or counted toward targets for, climate change programs. (e) Transit Pipelines.--None of the funds appropriated or otherwise made available by this Act may be used by the Secretary of State to impede the uninterrupted transmission of hydrocarbons by pipeline through the territory of one Party not originating in the territory of that Party, for delivery to the territory of the other Party as ratified by The Agreement between the Government of the United States of America and the Government of Canada concerning Transit Pipelines, signed at Washington on January 28, 1977. (f) United Nations Framework Convention on Climate Change.--None of the funds made available by this Act may be used to implement the decision by the United Nations Framework Convention on Climate Change's 21st Conference of Parties in Paris, France, adopted December 12, 2015, commonly known as the ``Paris Agreement''. (g) Climate Executive Orders.--None of the funds made available by this Act may be used to implement, enforce, or otherwise carry out the following-- (1) Executive Order 13990, relating to Protecting Public Health and the Environment and Restoring Science To Tackle the Climate Crisis; (2) Executive Order 14008, relating to Tackling the Climate Crisis at Home and Abroad; (3) Section 6 of Executive Order 14013, relating to Rebuilding and Enhancing Programs To Resettle Refugees and Planning for the Impact of Climate Change on Migration; (4) Executive Order 14030, relating to Climate-Related Financial Risk; (5) Executive Order 14037, relating to Strengthening American Leadership in Clean Cars and Trucks; (6) Executive Order 14057, relating to Catalyzing Clean Energy Industries and Jobs through Federal Sustainability; (7) Executive Order 14082, relating to Implementation of the Energy and Infrastructure Provisions of the Inflation Reduction Act of 2022; and (8) Executive Order 14096, relating to Revitalizing Our Nation's Commitment to Environmental Justice for All. (h) Study.--The Comptroller General of the United States shall conduct a study on funds appropriated in prior Acts making appropriations for the Department of State, foreign operations, and related programs from fiscal years 2020 through 2024 made available for climate change programs and whether the use of such funds have had a direct and measurable impact on lowering global temperatures or on projections of future global temperatures using the most plausible and accurate scenarios and models for future conditions. budget documents Sec. 7062. (a) Operating Plans.--Not later than 45 days after the date of enactment of this Act, each department, agency, or organization funded in titles I, II, and VI of this Act, and the Department of the Treasury and Independent Agencies funded in title III of this Act, including the Inter-American Foundation and the United States African Development Foundation, shall submit to the Committees on Appropriations an operating plan for funds appropriated to such department, agency, or organization in such titles of this Act, or funds otherwise available for obligation in fiscal year 2025, that provides details of the uses of such funds at the program, project, and activity level: Provided, That such plans shall include, as applicable, a comparison between the congressional budget justification funding levels, the most recent congressional directives or approved funding levels, and the funding levels proposed by the department or agency; and a clear, concise, and informative description/ justification: Provided further, That operating plans that include changes in levels of funding for programs, projects, and activities specified in the congressional budget justification, in this Act, or amounts designated in the tables in the report accompanying this Act, as applicable, shall be subject to the notification and reprogramming requirements of section 7015 of this Act. (b) Spend Plans.-- (1) Prior to the initial obligation of funds, the Secretary of State or Administrator of the United States Agency for International Development, as appropriate, shall submit to the Committees on Appropriations a spend plan for funds made available by this Act for-- (A) assistance for countries in Central America and the Caribbean, Colombia, Iraq, Pacific Islands countries, and Ukraine; (B) Caribbean Basin Security Initiative, Central America Regional Security Initiative, Indo-Pacific Strategy and the Countering PRC Influence Fund, Partnership for Global Infrastructure and Investment, Power Africa, and Trans-Sahara Counterterrorism Partnership; (C) assistance made available pursuant to the following sections in this Act: section 7032; section 7036; section 7047(d) (on a country-by-country basis); section 7059; and subsections (a), (b), (e), (g), and (h) of section 7060; and (D) implementation of the Global Fragility Act of 2019. (2) Not later than 90 days after the date of enactment of this Act, the Secretary of the Treasury shall submit to the Committees on Appropriations a detailed spend plan for funds made available by this Act under the heading ``Department of the Treasury, International Affairs Technical Assistance'' in title III. (3) Notwithstanding paragraph (1), up to 10 percent of the funds contained in a spend plan required by this subsection may be obligated prior to the submission of such spend plan if the Secretary of State, the USAID Administrator, or the Secretary of the Treasury, as applicable, determines that the obligation of such funds is necessary to avoid significant programmatic disruption: Provided, That not less than seven days prior to such obligation, the Secretary or Administrator, as appropriate, shall consult with the Committees on Appropriations on the justification for such obligation and the proposed uses of such funds. (c) Clarification.--The spend plans referenced in subsection (b) shall not be considered as meeting the notification requirements in this Act or under section 634A of the Foreign Assistance Act of 1961. (d) Congressional Budget Justification.--The congressional budget justification for Department of State operations and foreign operations shall be provided to the Committees on Appropriations concurrent with the date of submission of the President's budget for fiscal year 2026: Provided, That the appendices for such justification shall be provided to the Committees on Appropriations not later than 10 calendar days thereafter. reorganization Sec. 7063. (a) Prior Consultation and Notification.--Funds appropriated by this Act, prior Acts making appropriations for the Department of State, foreign operations, and related programs, or any other Act may not be used to implement a reorganization, redesign, or other plan described in subsection (b) by the Department of State, the United States Agency for International Development, or any other Federal department, agency, or organization funded by this Act without prior consultation by the head of such department, agency, or organization with the appropriate congressional committees: Provided, That such funds shall be subject to the regular notification procedures of the Committees on Appropriations: Provided further, That any such notification submitted to such Committees shall include a detailed justification for any proposed action: Provided further, That congressional notifications submitted in prior fiscal years pursuant to similar provisions of law in prior Acts making appropriations for the Department of State, foreign operations, and related programs may be deemed to meet the notification requirements of this section. (b) Description of Activities.--Pursuant to subsection (a), a reorganization, redesign, or other plan shall include any action to-- (1) expand, eliminate, consolidate, or downsize covered departments, agencies, or organizations, including bureaus and offices within or between such departments, agencies, or organizations, including the transfer to other agencies of the authorities and responsibilities of such bureaus and offices; (2) expand, eliminate, consolidate, or downsize the United States official presence overseas, including at bilateral, regional, and multilateral diplomatic facilities and other platforms; or (3) expand or reduce the size of the permanent Civil Service, Foreign Service, eligible family member, and locally employed staff workforce of the Department of State and USAID from the staffing levels previously justified to the Committees on Appropriations for fiscal year 2025. department of state matters Sec. 7064. (a) Working Capital Fund.--Funds appropriated by this Act or otherwise made available to the Department of State for payments to the Working Capital Fund that are made available for new service centers, shall be subject to the regular notification procedures of the Committees on Appropriations. (b) Certification.-- (1) Compliance.--Not later than 45 days after the initial obligation of funds appropriated under titles III and IV of this Act that are made available to a Department of State bureau or office with responsibility for the management and oversight of such funds, the Secretary of State shall certify and report to the Committees on Appropriations, on an individual bureau or office basis, that such bureau or office is in compliance with Department and Federal financial and grants management policies, procedures, and regulations, as applicable. (2) Considerations.--When making a certification required by paragraph (1), the Secretary of State shall consider the capacity of a bureau or office to-- (A) account for the obligated funds at the country and program level, as appropriate; (B) identify risks and develop mitigation and monitoring plans; (C) establish performance measures and indicators; (D) review activities and performance; and (E) assess final results and reconcile finances. (3) Plan.--If the Secretary of State is unable to make a certification required by paragraph (1), the Secretary shall submit a plan and timeline detailing the steps to be taken to bring such bureau or office into compliance. (c) Other Matters.-- (1) In addition to amounts appropriated or otherwise made available by this Act under the heading ``Diplomatic Programs''-- (A) as authorized by section 810 of the United States Information and Educational Exchange Act, not to exceed $5,000,000, to remain available until expended, may be credited to this appropriation from fees or other payments received from English teaching, library, motion pictures, and publication programs and from fees from educational advising and counseling and exchange visitor programs; and (B) not to exceed $15,000, which shall be derived from reimbursements, surcharges, and fees for use of Blair House facilities. (2) Funds appropriated or otherwise made available by this Act under the heading ``Diplomatic Programs'' are available for acquisition by exchange or purchase of passenger motor vehicles as authorized by law and, pursuant to section 1108(g) of title 31, United States Code, for the field examination of programs and activities in the United States funded from any account contained in title I of this Act. (3)(A) Prior to entering into a bilateral or multilateral agreement authorized by section 303(a) of the Convention on Cultural Property Implementation Act (19 U.S.C. 2602) or the extension of an agreement pursuant to section 303(e) of such Act, the Secretary of State shall ensure that any import restrictions authorized by such agreement comply with the provisions of sections 302 and 305 of such Act. (B) Reports required by section 303(g) of the Convention on Cultural Property Implementation Act (19 U.S.C. 2602) shall also be submitted to the Committees on Appropriations: Provided, That such reports shall also include information concerning compliance with section 303(c) of such Act. (4)(A) Notwithstanding any other provision of law, none of the funds appropriated or otherwise made available under the heading ``Diplomatic Programs'' in this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available for support of a Special Envoy, Special Representative, Special Coordinator, Special Negotiator, Envoy, Representative, Coordinator, Special Advisor, or other position performing a similar function unless such Special Envoy, Special Representative, Special Coordinator, Special Negotiator, Envoy, Representative, Coordinator, Special Advisor, or other position performing a similar function-- (i) is expressly authorized by statute; or (ii) has affirmatively received the advice and consent of the Senate. (B) The limitations of this paragraph shall be construed to include the applicable office personnel and bureau managed funds of such office. united states agency for international development management Sec. 7065. (a) Authority.--Up to $170,000,000 of the funds made available in title III of this Act pursuant to or to carry out the provisions of part I of the Foreign Assistance Act of 1961, including funds appropriated under the heading ``Assistance for Europe, Eurasia and Central Asia'', may be used by the United States Agency for International Development to hire and employ individuals in the United States and overseas on a limited appointment basis pursuant to the authority of sections 308 and 309 of the Foreign Service Act of 1980 (22 U.S.C. 3948 and 3949). (b) Restriction.--The authority to hire individuals contained in subsection (a) shall expire on September 30, 2026. (c) Program Account Charged.--The account charged for the cost of an individual hired and employed under the authority of this section shall be the account to which the responsibilities of such individual primarily relate: Provided, That funds made available to carry out this section may be transferred to, and merged with, funds appropriated by this Act in title II under the heading ``Operating Expenses''. (d) Foreign Service Limited Extensions.--Individuals hired and employed by USAID, with funds made available in this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs, pursuant to the authority of section 309 of the Foreign Service Act of 1980 (22 U.S.C. 3949), may be extended for a period of up to 4 years notwithstanding the limitation set forth in such section. (e) Disaster Surge Capacity.--Funds appropriated under title III of this Act to carry out part I of the Foreign Assistance Act of 1961, including funds appropriated under the heading ``Assistance for Europe, Eurasia and Central Asia'', may be used, in addition to funds otherwise available for such purposes, for the cost (including the support costs) of individuals detailed to or employed by USAID whose primary responsibility is to carry out programs in response to natural disasters or man-made disasters, subject to the regular notification procedures of the Committees on Appropriations. (f) Personal Services Contractors.--Funds appropriated by this Act to carry out chapter 1 of part I, chapter 4 of part II, and section 667 of the Foreign Assistance Act of 1961, and title II of the Food for Peace Act (Public Law 83-480; 7 U.S.C. 1721 et seq.), may be used by USAID to employ up to 40 personal services contractors in the United States, notwithstanding any other provision of law, for the purpose of providing direct, interim support for new or expanded overseas programs and activities managed by the agency until permanent direct hire personnel are hired and trained: Provided, That not more than 15 of such contractors shall be assigned to any bureau or office: Provided further, That such funds appropriated to carry out title II of the Food for Peace Act (Public Law 83-480; 7 U.S.C. 1721 et seq.), may be made available only for personal services contractors assigned to the Bureau for Humanitarian Assistance. (g) Small Business.--In entering into multiple award indefinite- quantity contracts with funds appropriated by this Act, USAID may provide an exception to the fair opportunity process for placing task orders under such contracts when the order is placed with any category of small or small disadvantaged business. (h) Senior Foreign Service Limited Appointments.--Individuals hired pursuant to the authority provided by section 7059(o) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2010 (division F of Public Law 111-117) may be assigned to or support programs in Afghanistan or Pakistan with funds made available in this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs. (i) Crisis Operations Staffing.--Up to $86,000,000 of the funds made available in title III of this Act pursuant to, or to carry out the provisions of, part I of the Foreign Assistance Act of 1961 and section 509(b) of the Global Fragility Act of 2019 (title V of division J of Public Law 116-94) may be made available for the United States Agency for International Development to appoint and employ personnel in the excepted service to prevent or respond to foreign crises and contexts with growing instability: Provided, That functions carried out by personnel hired under the authority of this subsection shall be related to the purpose for which the funds were appropriated: Provided further, That such funds are in addition to funds otherwise available for such purposes and may remain attributed to any minimum funding requirement for which they were originally made available: Provided further, That the USAID Administrator shall coordinate with the Director of the Office of Personnel Management and consult with the appropriate congressional committees on implementation of this provision. stabilization and development in regions impacted by extremism and conflict Sec. 7066. Of the funds appropriated by this Act under the headings ``Economic Support Fund'', ``International Narcotics Control and Law Enforcement'', ``Nonproliferation, Anti-terrorism, Demining and Related Programs'', ``Peacekeeping Operations'', and ``Foreign Military Financing Program'', not less than $135,000,000 shall be made available for the Prevention and Stabilization Fund for the purposes enumerated in section 509(a) of the Global Fragility Act of 2019 (title V of division J of Public Law 116-94): Provided, That such funds shall be prioritized for countries with national and local governments with the demonstrated political will and capacity to partner on strengthening government legitimacy: Provided further, That the Secretary of State and the Administrator of the United States Agency for International Development shall consult with the Committees on Appropriations on the intended prioritization and allocation of such funds not later than 60 days prior to submitting the pre-obligation spend plans required by section 7062(b) of this Act: Provided further, That funds appropriated under such headings may be transferred to, and merged with, funds appropriated under such headings for such purposes: Provided further, That such transfer authority is in addition to any other transfer authority provided by this Act or any other Act, and is subject to prior consultation with, and the regular notification procedures of, the Committees on Appropriations: Provided further, That funds made available pursuant to this subsection under the heading ``Foreign Military Financing Program'' may remain available until September 30, 2026. debt-for-development Sec. 7067. In order to enhance the continued participation of nongovernmental organizations in debt-for-development and debt-for- nature exchanges, a nongovernmental organization which is a grantee or contractor of the United States Agency for International Development may place in interest bearing accounts local currencies which accrue to that organization as a result of economic assistance provided under title III of this Act and, subject to the regular notification procedures of the Committees on Appropriations, any interest earned on such investment shall be used for the purpose for which the assistance was provided to that organization. extension of consular fees and related authorities Sec. 7068. (a) Section 1(b)(1) of the Passport Act of June 4, 1920 (22 U.S.C. 214(b)(1)) shall be applied through fiscal year 2025 by substituting ``the costs of providing consular services'' for ``such costs''. (b) Section 21009 of the Emergency Appropriations for Coronavirus Health Response and Agency Operations (division B of Public Law 116- 136; 134 Stat. 592) shall be applied during fiscal year 2025 by substituting ``2020 through 2025'' for ``2020 and 2021''. (c) Discretionary amounts made available to the Department of State under the heading ``Administration of Foreign Affairs'' of this Act, and discretionary unobligated balances under such heading from prior Acts making appropriations for the Department of State, foreign operations, and related programs, may be transferred to the Consular and Border Security Programs account if the Secretary of State determines and reports to the Committees on Appropriations that to do so is necessary to sustain consular operations, following consultation with such Committees: Provided, That such transfer authority is in addition to any transfer authority otherwise available in this Act and under any other provision of law: Provided further, That no amounts may be transferred from amounts designated as an emergency requirement pursuant to a concurrent resolution on the budget or the Balanced Budget and Emergency Deficit Control Act of 1985. (d) In addition to the uses permitted pursuant to section 286(v)(2)(A) of the Immigration and Nationality Act (8 U.S.C. 1356(v)(2)(A)), for fiscal year 2025, the Secretary of State may also use fees deposited into the Fraud Prevention and Detection Account for the costs of providing consular services. (e) Amounts repurposed pursuant to subsection (b) that were previously designated by the Congress as an emergency requirement pursuant to the Balanced Budget and Emergency Deficit Control Act of 1985 or a concurrent resolution on the budget are designated by the Congress as an emergency requirement pursuant to section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985. gaza oversight and other matters Sec. 7069. (a) Certification.--The Secretary of State shall certify and report to the appropriate congressional committees not later than 15 days after the date of enactment of this Act, that-- (1) oversight policies, processes, and procedures have been established by the Department of State and the United States Agency for International Development, as appropriate, and are in use to prevent the diversion to Hamas and other terrorist and extremist entities in Gaza and the misuse or destruction by such entities of assistance, including through international organizations; and (2) such policies, processes, and procedures have been developed in coordination with other bilateral and multilateral donors and the Government of Israel, as appropriate. (b) Oversight Policy and Procedures.--The Secretary of State and the USAID Administrator shall submit to the appropriate congressional committees, concurrent with the submission of the certification required in subsection (a), a written description of the oversight policies, processes, and procedures for funds appropriated by this Act that are made available for assistance for Gaza, including specific actions to be taken should such assistance be diverted, misused, or destroyed, and the role of the Government of Israel in the oversight of such assistance. (c) Requirement to Inform.--The Secretary of State and USAID Administrator shall promptly inform the appropriate congressional committees of each instance in which funds appropriated by this Act that are made available for assistance for Gaza have been diverted, misused, or destroyed, to include the type of assistance, a description of the incident and parties involved, and an explanation of the response of the Department of State or USAID, as appropriate. (d) Third Party Monitoring.--Funds appropriated by this Act shall be made available for third party monitoring of assistance for Gaza, including end use monitoring, following consultation with the appropriate congressional committees. (e) Report.--Not later than 90 days after the initial obligation of funds appropriated by this Act that are made available for assistance for Gaza, and every 90 days thereafter until all such funds are expended, the Secretary of State and the USAID Administrator shall jointly submit to the appropriate congressional committees a report detailing the amount and purpose of such assistance provided during each respective quarter, including a description of the specific entity implementing such assistance. (f) Assessment.--Not later than 90 days after the date of enactment of this Act and every 90 days thereafter until September 30, 2026, the Secretary of State, in consultation with the Director of National Intelligence and other heads of elements of the intelligence community that the Secretary considers relevant, shall submit to the appropriate congressional committees a report assessing whether funds appropriated by this Act and made available for assistance for the West Bank and Gaza have been diverted to or destroyed by Hamas or other terrorist and extremist entities in the West Bank and Gaza: Provided, That such report shall include details on the amount and how such funds were made available and used by such entities: Provided further, That such report may be submitted in classified form, if necessary. (g) Consultation.--Not later than 30 days after the date of enactment of this Act but prior to the initial obligation of funds made available by this Act for humanitarian assistance for Gaza, the Secretary of State and USAID Administrator, as appropriate, shall consult with the Committees on Appropriations on the amount and anticipated uses of such funds. (h) Inspectors General.--The Inspectors General of the Department of State and USAID shall conduct investigations of their respective agency's implementing partners that receive funds appropriated by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs and made available for assistance in the West Bank and Gaza, or entities that provide logistical support to implementing partners that receive such funds to determine if allegations or reports that such entities have employed staff or contractors that are members of, or affiliated with, a United States designated terrorist organization or have participated in any terrorist act, including before, on, or after October 7, 2023, are credible, and, as appropriate, refer their investigative findings for potential criminal, civil, or administrative enforcement remedies. (i) Limitation on Foreign Nationals From Gaza.--None of the funds appropriated by this Act and prior Acts making appropriations for the Department of State, foreign operations, and related programs under the headings ``Migration and Refugee Assistance'' and ``United States Emergency Refugee and Migration Fund'' may be used to support the admission and resettlement into the United States of a foreign national from Gaza. additional limitations on operations and assistance Sec. 7070. (a) None of the funds appropriated or otherwise made available by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs may be made available for drag queen workshops, performances, or documentaries. (b) None of the funds appropriated or otherwise made available by this Act may be used to carry out any program, project, or activity that teaches or trains any idea or concept that condones an individual being discriminated against or receiving adverse or beneficial treatment based on race or sex, that condones an individual feeling discomfort, guilt, anguish, or any other form of psychological distress on account of that individual's race or sex, as well as any idea or concept that regards one race as inherently superior to another race, the United States or its institutions as being systemically racist or sexist, an individual as being inherently racist, sexist, or oppressive by virtue of that individual's race or sex, an individual's moral character as being necessarily determined by race or sex, an individual as bearing responsibility for actions committed in the past by other members of the same race or sex, or meritocracy being racist, sexist, or having been created by a particular race to oppress another race. (c) None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, apply, enforce, or carry out Executive Order 13985 of January 20, 2021 (86 Fed. Reg. 7009), Executive Order 14035 of June 25, 2021 (86 Fed. Reg. 34593), or Executive Order 14091 of February 16, 2023 (88 Fed. Reg. 10825). (d) None of the funds made available by this Act or any other Act shall be used or transferred to another Federal Agency, board, or commission to fund any domestic or international non-governmental organization or any other program, organization, or association coordinated or operated by such non-governmental organization that either offers counseling regarding sex change surgeries, promotes sex change surgeries for any reason as an option, conducts or subsidizes sex change surgeries, promotes the use of medications or other substances to halt the onset of puberty or sexual development of minors, or otherwise promotes transgenderism. (e) None of the funds appropriated or otherwise made available by this Act may be obligated or expended to fly or display a flag over a facility of the United States Department of State other than the-- (1) United States flag; (2) Foreign Service flag pursuant to 2 FAM 154.2-1; (3) POW/MIA flag; (4) Hostage and Wrongful Detainee flag, pursuant to section 904 of title 36, United States Code; (5) flag of a State, insular area, or the District of Columbia at domestic locations; (6) flag of an Indian Tribal government; (7) official branded flag of a United States agency; or (8) sovereign flag of other countries. (f) None of the funds made available by this Act or prior Acts making appropriations for the Department of State, foreign operations, and related programs may be used to implement, administer, or enforce any COVID-19 mask or vaccine mandates, including for individuals traveling outside of the United States. (g) None of the funds made available by this Act may be used for diversity, equity and inclusion initiatives, training, programs, offices, officers, policies, or other executive agency functions. (h)(1) Notwithstanding section 7 of title 1, United States Code, section 1738C of title 28, United States Code, or any other provision of law, none of the funds provided by this Act shall be used in whole or in part to take any discriminatory action against a person, wholly or partially, on the basis that such person speaks, or acts, in accordance with a sincerely held religious belief, or moral conviction, that marriage is, or should be recognized as, a union of one man and one woman. (2) As used in paragraph (1), a discriminatory action means any action taken by the Federal Government to-- (A) alter in any way the Federal tax treatment of, or cause any tax, penalty, or payment to be assessed against, or deny, delay, or revoke an exemption from taxation under section 501(a) of the Internal Revenue Code of 1986 of, any person referred to in paragraph (1); (B) disallow a deduction for Federal tax purposes of any charitable contribution made to or by such person; (C) withhold, reduce the amount or funding for, exclude, terminate, or otherwise make unavailable or deny, any Federal grant, contract, subcontract, cooperative agreement, guarantee, loan, scholarship, license, certification, accreditation, employment, or other similar position or status from or to such person; (D) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny, any entitlement or benefit under a Federal benefit program, including admission to, equal treatment in, or eligibility for a degree from an educational program, from or to such person; or (E) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny access or an entitlement to Federal property, facilities, educational institutions, speech forum (including traditional, limited and nonpublic forum), or charitable fundraising campaigns from or to such person. (3) The Federal Government shall consider accredited, licensed, or certified for purposes of Federal law any person that would be accredited, licensed, or certified, respectively, for such purposes but for a determination against such person wholly or partially on the basis that the person speaks, or acts, in accordance with a sincerely held religious belief or moral conviction described in paragraph (1). (i) None of the funds appropriated or otherwise made available by this Act may be used for hiring practices based on gender, religion, political affiliation, or race. (j) None of the funds appropriated or otherwise made available by this Act may be made available to the Data Journalism Agency or the Global Disinformation Index. (k) None of the funds appropriated or otherwise made available by this Act may be made available to InterAction. (l) None of the funds appropriated or otherwise made available by this Act may be made available to a United States institution of higher education that has failed to take administrative action against any student, staff member, or student group that commits acts of antisemitism while utilizing the facilities, grounds, or resources of such institution. rescissions (including rescissions of funds) Sec. 7071. (a) Economic Support Fund.--Of the unobligated balances from amounts made available under the heading ``Economic Support Fund'' from prior Acts making appropriations for the Department of State, foreign operations, and related programs, $640,161,000 are rescinded. (b) International Narcotics Control and Law Enforcement.--Of the unobligated balances from amounts made available under the heading ``International Narcotics Control and Law Enforcement'' from prior Acts making appropriations for the Department of State, foreign operations, and related programs, $65,000,000 are rescinded. (c) Debt Restructuring.--Of the unobligated balances from amounts made available under the heading ``Debt Restructuring'' from prior Acts making appropriations for the Department of State, foreign operations, and related programs, $111,000,000 are rescinded. (d) Restriction.--No amounts may be rescinded from amounts that were previously designated by the Congress as an emergency requirement pursuant to a concurrent resolution on the budget or section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985. Sec. 7072. None of the funds appropriated or otherwise made available by this Act may be made available to the Republic of Maldives until the Secretary of State determines that the Republic of Maldives has revoked its ban on Israeli passport holders. TITLE VIII--ADDITIONAL GENERAL PROVISION spending reduction account Sec. 8001. $0. This Act may be cited as the ``Department of State, Foreign Operations, and Related Programs Appropriations Act, 2025''. Union Calendar No. 457 118th CONGRESS 2d Session H. R. 8771 [Report No. 118-554] _______________________________________________________________________ A BILL Making appropriations for the Department of State, foreign operations, and related programs for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ June 14, 2024 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

usgpo

2024-06-24T00:12:27.674368

BILLS-118hr8281rh

Safeguard American Voter Eligibility Act; SAVE Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8281 Reported in House (RH)] <DOC> Union Calendar No. 455 118th CONGRESS 2d Session H. R. 8281 [Report No. 118-552] To amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 7, 2024 Mr. Roy (for himself, Mr. Garbarino, Mr. Scalise, Mr. Emmer, Ms. Stefanik, Ms. Tenney, Mrs. Harshbarger, Mr. Donalds, Mrs. Miller of Illinois, Mr. Reschenthaler, Mr. Higgins of Louisiana, Mr. Graves of Louisiana, Mr. McClintock, Mr. Lawler, Ms. Boebert, Mr. Banks, Mr. Moore of Alabama, Mr. McCaul, Mr. Arrington, Mr. Williams of New York, Mr. Langworthy, Mr. Ellzey, Mr. Guest, Mr. Hern, Mrs. Houchin, Mr. Mike Garcia of California, Mr. Williams of Texas, Mr. Biggs, Mr. Palmer, Mr. Feenstra, Mr. Nehls, Mr. Babin, Mr. Self, Mr. Fallon, Mr. Cloud, Mr. Crenshaw, Mr. Hunt, Mr. Weber of Texas, Mr. Jordan, Mr. Austin Scott of Georgia, Mr. McCormick, Mr. Clyde, Mr. Brecheen, Mr. Bishop of North Carolina, Mr. Bost, Mrs. Fischbach, and Mr. Pfluger) introduced the following bill; which was referred to the Committee on House Administration June 14, 2024 Additional sponsors: Mr. Bilirakis, Mr. Issa, Mrs. Cammack, Mr. Wittman, Mr. Crane, Mr. Fulcher, Mr. Meuser, Mr. Ogles, Mr. Loudermilk, Mr. Mooney, Mr. Dunn of Florida, Mr. Good of Virginia, Mr. Steube, Mr. Edwards, Mr. Duncan, Mr. Burlison, Mr. Sessions, Mr. Finstad, Ms. Lee of Florida, Mrs. Lesko, Mr. Waltz, Mr. Owens, Mr. Gooden of Texas, Mr. Baird, Mr. Norman, Mr. Bergman, Mr. Moran, Mr. Rosendale, Mr. Timmons, Mr. Webster of Florida, Ms. Malliotakis, Mr. Collins, Ms. Hageman, Mr. Burchett, Mr. Estes, Mr. Jackson of Texas, Mr. Fleischmann, Ms. Mace, Mr. Scott Franklin of Florida, Ms. Letlow, Mr. Bean of Florida, Mr. Allen, Mr. Tiffany, Mr. Ferguson, Mr. Rouzer, Mr. Perry, Mr. Huizenga, Mr. Crawford, Mr. Cline, Mr. Mills, Mrs. McClain, Mr. Moolenaar, Mrs. Kiggans of Virginia, Mrs. Luna, Mr. Van Drew, Mr. Harris, Mr. Gosar, and Mr. Smith of New Jersey June 14, 2024 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed [Strike out all after the enacting clause and insert the part printed in italic] [For text of introduced bill, see copy of bill as introduced on May 7, 2024] _______________________________________________________________________ A BILL To amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Safeguard American Voter Eligibility Act'' or the ``SAVE Act''. SEC. 2. ENSURING ONLY CITIZENS ARE REGISTERED TO VOTE IN ELECTIONS FOR FEDERAL OFFICE. (a) Definition of Documentary Proof of United States Citizenship.-- Section 3 of the National Voter Registration Act of 1993 (52 U.S.C. 20502) is amended-- (1) by striking ``As used'' and inserting ``(a) In General.--As used''; and (2) by adding at the end the following: ``(b) Documentary Proof of United States Citizenship.--As used in this Act, the term `documentary proof of United States citizenship' means, with respect to an applicant for voter registration, any of the following: ``(1) A form of identification issued consistent with the requirements of the REAL ID Act of 2005 that indicates the applicant is a citizen of the United States. ``(2) A valid United States passport. ``(3) The applicant's official United States military identification card, together with a United States military record of service showing that the applicant's place of birth was in the United States. ``(4) A valid government-issued photo identification card issued by a Federal, State or Tribal government showing that the applicant's place of birth was in the United States. ``(5) A valid government-issued photo identification card issued by a Federal, State or Tribal government other than an identification described in paragraphs (1) through (4), but only if presented together with one or more of the following: ``(A) A certified birth certificate issued by a State, a unit of local government in a State, or a Tribal government which-- ``(i) was issued by the State, unit of local government, or Tribal government in which the applicant was born; ``(ii) was filed with the office responsible for keeping vital records in the State; ``(iii) includes the full name, date of birth, and place of birth of the applicant; ``(iv) lists the full names of one or both of the parents of the applicant; ``(v) has the signature of an individual who is authorized to sign birth certificates on behalf of the State, unit of local government, or Tribal government in which the applicant was born; ``(vi) includes the date that the certificate was filed with the office responsible for keeping vital records in the State; and ``(vii) has the seal of the State, unit of local government, or Tribal government that issued the birth certificate. ``(B) An extract from a United States hospital Record of Birth created at the time of the applicant's birth which indicates that the applicant's place of birth was in the United States. ``(C) A final adoption decree showing the applicant's name and that the applicant's place of birth was in the United States. ``(D) A Consular Report of Birth Abroad of a citizen of the United States or a certification of the applicant's Report of Birth of a United States citizen issued by the Secretary of State. ``(E) A Naturalization Certificate or Certificate of Citizenship issued by the Secretary of Homeland Security or any other document or method of proof of United States citizenship issued by the Federal government pursuant to the Immigration and Nationality Act. ``(F) An American Indian Card issued by the Department of Homeland Security with the classification `KIC'.''. (b) In General.--Section 4 of the National Voter Registration Act of 1993 (52 U.S.C. 20503) is amended-- (1) in subsection (a), by striking ``subsection (b)'' and inserting ``subsection (c)''; (2) by redesignating subsection (b) as subsection (c); and (3) by inserting after subsection (a) the following new subsection: ``(b) Requiring Applicants to Present Documentary Proof of United States Citizenship.--Under any method of voter registration in a State, the State shall not accept and process an application to register to vote in an election for Federal office unless the applicant presents documentary proof of United States citizenship with the application.''. (c) Registration With Application for Motor Vehicle Driver's License.--Section 5 of the National Voter Registration Act of 1993 (52 U.S.C. 20504) is amended-- (1) in subsection (a)(1), by striking ``Each State motor vehicle driver's license application'' and inserting ``Subject to the requirements under section 8(j), each State motor vehicle driver's license application''; (2) in subsection (c)(1), by striking ``Each State shall include'' and inserting ``Subject to the requirements under section 8(j), each State shall include''; (3) in subsection (c)(2)(B)-- (A) in clause (i), by striking ``and'' at the end; (B) in clause (ii), by adding ``and'' at the end; and (C) by adding at the end the following new clause: ``(iii) verify that the applicant is a citizen of the United States;''; (4) in subsection (c)(2)(C)(i), by striking ``(including citizenship)'' and inserting ``, including the requirement that the applicant provides documentary proof of United States citizenship''; and (5) in subsection (c)(2)(D)(iii), by striking ``; and'' and inserting the following: ``, other than as evidence in a criminal proceeding or immigration proceeding brought against an applicant who knowingly attempts to register to vote and knowingly makes a false declaration under penalty of perjury that the applicant meets the eligibility requirements to register to vote in an election for Federal office; and''. (d) Requiring Documentary Proof of United States Citizenship With National Mail Voter Registration Form.--Section 6 of the National Voter Registration Act of 1993 (52 U.S.C. 20505) is amended-- (1) in subsection (a)(1)-- (A) by striking ``Each State shall accept and use'' and inserting ``Subject to the requirements under section 8(j), each State shall accept and use''; and (B) by striking ``Federal Election Commission'' and inserting ``Election Assistance Commission''; (2) in subsection (b), by adding at the end the following: ``The chief State election official of a State shall take such steps as may be necessary to ensure that residents of the State are aware of the requirement to provide documentary proof of United States citizenship to register to vote in elections for Federal office in the State.''; (3) in subsection (c)(1)-- (A) in subparagraph (A), by striking ``and'' at the end; (B) in subparagraph (B) by striking the period at the end and inserting ``; and''; and (C) by adding at the end the following new subparagraph: ``(C) the person did not provide documentary proof of United States citizenship when registering to vote.''; and (4) by adding at the end the following new subsection: ``(e) Ensuring Proof of United States Citizenship.-- ``(1) Presenting proof of united states citizenship to election official.--An applicant who submits the mail voter registration application form prescribed by the Election Assistance Commission pursuant to section 9(a)(2) or a form described in paragraph (1) or (2) of subsection (a) shall not be registered to vote in an election for Federal office unless-- ``(A) the applicant presents documentary proof of United States citizenship in person to the office of the appropriate election official not later than the deadline provided by State law for the receipt of a completed voter registration application for the election; or ``(B) in the case of a State which permits an individual to register to vote in an election for Federal office at a polling place on the day of the election and on any day when voting, including early voting, is permitted for the election, the applicant presents documentary proof of United States citizenship to the appropriate election official at the polling place not later than the date of the election. ``(2) Notification of requirement.--Upon receiving an otherwise completed mail voter registration application form prescribed by the Election Assistance Commission pursuant to section 9(a)(2) or a form described in paragraph (1) or (2) of subsection (a), the appropriate election official shall transmit a notice to the applicant of the requirement to present documentary proof of United States citizenship under this subsection, and shall include in the notice instructions to enable the applicant to meet the requirement. ``(3) Accessibility.--Each State shall, in consultation with the Election Assistance Commission, ensure that reasonable accommodations are made to allow an individual with a disability who submits the mail voter registration application form prescribed by the Election Assistance Commission pursuant to section 9(a)(2) or a form described in paragraph (1) or (2) of subsection (a) to present documentary proof of United States citizenship to the appropriate election official.''. (e) Requirements for Voter Registration Agencies.--Section 7 of the National Voter Registration Act of 1993 (52 U.S.C. 20506) is amended-- (1) in subsection (a)-- (A) in paragraph (4)(A), by adding at the end the following new clause: ``(iv) Receipt of documentary proof of United States citizenship of each applicant to register to vote in elections for Federal office in the State.''; and (B) in paragraph (6)-- (i) in subparagraph (A)(i)(I), by striking ``(including citizenship)'' and inserting ``, including the requirement that the applicant provides documentary proof of United States citizenship''; and (ii) by redesignating subparagraph (B) as subparagraph (C); and (iii) by inserting after subparagraph (A) the following new subparagraph: ``(B) ask the applicant the question, `Are you a citizen of the United States?' and if the applicant answers in the affirmative require documentary proof of United States citizenship prior to providing the form under subparagraph (C);''; and (2) in subsection (c)(1), by inserting ``who are citizens of the United States'' after ``for persons''. (f) Requirements With Respect to Administration of Voter Registration.--Section 8 of the National Voter Registration Act of 1993 (52 U.S.C. 20507) is amended-- (1) in subsection (a)-- (A) by striking ``In the administration of voter registration'' and inserting ``Subject to the requirements of subsection (j), in the administration of voter registration''; and (B) in paragraph (3)-- (i) in subparagraph (B), by striking ``or'' at the end; and (ii) by adding at the end the following new subparagraphs: ``(D) based on documentary proof or verified information that the registrant is not a United States citizen; or ``(E) the registration otherwise fails to comply with applicable State law;''; (2) by redesignating subsection (j) as subsection (l); and (3) by inserting after subsection (i) the following new subsections: ``(j) Ensuring Only Citizens Are Registered to Vote.-- ``(1) In general.--Notwithstanding any other provision of this Act, a State may not register an individual to vote in elections for Federal office held in the State unless, at the time the individual applies to register to vote, the individual provides documentary proof of United States citizenship. ``(2) Additional processes in certain cases.-- ``(A) Process for those without documentary proof.-- ``(i) In general.--Subject to any relevant guidance adopted by the Election Assistance Commission, each State shall establish a process under which an applicant who cannot provide documentary proof of United States citizenship under paragraph (1) may, if the applicant signs an attestation under penalty of perjury that the applicant is a citizen of the United States and eligible to vote in elections for Federal office, submit such other evidence to the appropriate State or local official demonstrating that the applicant is a citizen of the United States and such official shall make a determination as to whether the applicant has sufficiently established United States citizenship for purposes of registering to vote in elections for Federal office in the State. ``(ii) Affidavit requirement.--If a State or local official makes a determination under clause (i) that an applicant has sufficiently established United States citizenship for purposes of registering to vote in elections for Federal office in the State, such determination shall be accompanied by an affidavit developed under clause (iii) signed by the official swearing or affirming the applicant sufficiently established United States citizenship for purposes of registering to vote. ``(iii) Development of affidavit by the election assistance commission.--The Election Assistance Commission shall develop a uniform affidavit for use by State and local officials under clause (ii), which shall-- ``(I) include an explanation of the minimum standards required for a State or local official to register an applicant who cannot provide documentary proof of United States citizenship to vote in elections for Federal office in the State; and ``(II) require the official to explain the basis for registering such applicant to vote in such elections. ``(B) Process in case of certain discrepancies in documentation.--Subject to any relevant guidance adopted by the Election Assistance Commission, each State shall establish a process under which an applicant can provide such additional documentation to the appropriate election official of the State as may be necessary to establish that the applicant is a citizen of the United States in the event of a discrepancy with respect to the applicant's documentary proof of United States citizenship. ``(3) State requirements.--Each State shall take affirmative steps on an ongoing basis to ensure that only United States citizens are registered to vote under the provisions of this Act, which shall include the establishment of a program described in paragraph (4) not later than 30 days after the date of the enactment of this subsection. ``(4) Program described.--A State may meet the requirements of paragraph (3) by establishing a program under which the State identifies individuals who are not United States citizens using information supplied by one or more of the following sources: ``(A) The Department of Homeland Security through the Systematic Alien Verification for Entitlements (`SAVE') or otherwise. ``(B) The Social Security Administration through the Social Security Number Verification Service, or otherwise. ``(C) State agencies that supply State identification cards or driver's licenses where the agency confirms the United States citizenship status of applicants. ``(D) Other sources, including databases, which provide confirmation of United States citizenship status. ``(5) Availability of information.-- ``(A) In general.--At the request of a State election official (including a request related to a process established by a State under paragraph (2)(A) or (2)(B)), any head of a Federal department or agency possessing information relevant to determining the eligibility of an individual to vote in elections for Federal office shall, not later than 24 hours after receipt of such request, provide the official with such information as may be necessary to enable the official to verify that an applicant for voter registration in elections for Federal office held in the State or a registrant on the official list of eligible voters in elections for Federal office held in the State is a citizen of the United States, which shall include providing the official with such batched information as may be requested by the official. ``(B) Use of save system.--The Secretary of Homeland Security may respond to a request received under paragraph (1) by using the system for the verification of immigration status under the applicable provisions of section 1137 of the Social Security Act (42 U.S.C. 1320b-7), as established pursuant to section 121(c) of the Immigration Reform and Control Act of 1986 (Public Law 99-603). ``(C) Sharing of information.--The heads of Federal departments and agencies shall share information with each other with respect to an individual who is the subject of a request received under paragraph (A) in order to enable them to respond to the request. ``(D) Investigation for purposes of removal.--The Secretary of Homeland Security shall conduct an investigation to determine whether to initiate removal proceedings under section 239 of the Immigration and Nationality Act (8 U.S.C. 1229) if it is determined pursuant to subparagraph (A) or (B) that an alien (as such term is defined in section 101 of the Immigration and Nationality Act (8 U.S.C. 1101)) is unlawfully registered to vote in elections for Federal office. ``(E) Prohibiting fees.--The head of a Federal department or agency may not charge a fee for responding to a State's request under paragraph (A). ``(k) Removal of Noncitizens From Registration Rolls.--A State shall remove an individual who is not a citizen of the United States from the official list of eligible voters for elections for Federal office held in the State at any time upon receipt of documentation or verified information that a registrant is not a United States citizen.''. (g) Clarification of Authority of State to Remove Noncitizens From Official List of Eligible Voters.-- (1) In general.--Section 8(a)(4) of the National Voter Registration Act of 1993 (52 U.S.C. 20507(a)(4)) is amended-- (A) by striking ``or'' at the end of subparagraph (A); (B) by adding ``or'' at the end of subparagraph (B); and (C) by adding at the end the following new subparagraph: ``(C) documentary proof or verified information that the registrant is not a United States citizen;''. (2) Conforming amendment.--Section 8(c)(2)(B)(i) of such Act (52 U.S.C. 20507(c)(2)(B)(i)) is amended by striking ``(4)(A)'' and inserting ``(4)(A) or (C)''. (h) Requirements With Respect to Federal Mail Voter Registration Form.-- (1) Contents of mail voter registration form.--Section 9(b) of such Act (52 U.S.C. 20508(b)) is amended-- (A) in paragraph (2)(A), by striking ``(including citizenship)'' and inserting ``(including an explanation of what is required to present documentary proof of United States citizenship)''; (B) in paragraph (3), by striking ``and'' at the end; (C) in paragraph (4), by striking the period at the end and inserting ``; and''; and (D) by adding at the end the following new paragraph: ``(5) shall include a section, for use only by a State or local election official, to record the type of document the applicant presented as documentary proof of United States citizenship, including the date of issuance, the date of expiration (if any), the office which issued the document, and any unique identification number associated with the document.''. (2) Information on mail voter registration form.--Section 9(b)(4) of such Act (52 U.S.C. 20508(b)(4)) is amended-- (A) by redesignating clauses (i) through (iii) as subparagraphs (A) through (C), respectively; and (B) in subparagraph (C) (as so redesignated and as amended by paragraph (1)(C)), by striking ``; and'' and inserting the following: ``, other than as evidence in a criminal proceeding or immigration proceeding brought against an applicant who attempts to register to vote and makes a false declaration under penalty of perjury that the applicant meets the eligibility requirements to register to vote in an election for Federal office; and''. (i) Private Right of Action.--Section 11(b)(1) of the National Voter Registration Act of 1993 (52 U.S.C. 20510(b)(1)) is amended by striking ``a violation of this Act'' and inserting ``a violation of this Act, including the act of an election official who registers an applicant to vote in an election for Federal office who fails to present documentary proof of United States citizenship,''. (j) Criminal Penalties.--Section 12(2) of such Act (52 U.S.C. 20511(2)) is amended-- (1) by striking ``or'' at the end of subparagraph (A); (2) by redesignating subparagraph (B) as subparagraph (D); and (3) by inserting after subparagraph (A) the following new subparagraphs: ``(B) in the case of an officer or employee of the executive branch, providing material assistance to a noncitizen in attempting to register to vote or vote in an election for Federal office; ``(C) registering an applicant to vote in an election for Federal office who fails to present documentary proof of United States citizenship; or''. (k) Applicability of Requirements to Certain States.-- (1) In general.--Subsection (c) of section 4 of the National Voter Registration Act of 1993 (52 U.S.C. 20503), as redesignated by subsection (b), is amended by striking ``This Act does not apply to a State'' and inserting ``Except with respect to the requirements under subsection (i) and (j) of section 8 in the case of a State described in paragraph (2), this Act does not apply to a State''. (2) Permitting states to adopt requirements after enactment.--Section 4 of such Act (52 U.S.C. 20503) is amended by adding at the end the following new subsection: ``(d) Permitting States to Adopt Certain Requirements After Enactment.--Subsections (i) and (j) of section 8 shall not apply to a State described in subsection (c)(2) if the State, by law or regulation, adopts requirements which are identical to the requirements under such subsections not later than 60 days prior to the date of the first election for Federal office which is held in the State after the date of the enactment of the SAVE Act.''. SEC. 3. ELECTION ASSISTANCE COMMISSION GUIDANCE. Not later than 10 days after the date of the enactment of this Act, the Election Assistance Commission shall adopt and transmit to the chief State election official of each State guidance with respect to the implementation of the requirements under the National Voter Registration Act of 1993 (52 U.S.C. 20501 et seq.), as amended by section 2. SEC. 4. INAPPLICABILITY OF PAPERWORK REDUCTION ACT. Subchapter I of chapter 35 of title 44 (commonly referred to as the ``Paperwork Reduction Act'') shall not apply with respect to the development or modification of voter registration materials under the National Voter Registration Act of 1993 (52 U.S.C. 20501 et seq.), as amended by section 2, including the development or modification of any voter registration application forms. SEC. 5. DUTY OF SECRETARY OF HOMELAND SECURITY TO NOTIFY ELECTION OFFICIALS OF NATURALIZATION. Upon receiving information that an individual has become a naturalized citizen of the United States, the Secretary of Homeland Security shall promptly provide notice of such information to the appropriate chief election official of the State in which such individual is domiciled. SEC. 6. RULE OF CONSTRUCTION REGARDING PROVISIONAL BALLOTS. Nothing in this Act or in any amendment made by this Act may be construed to supercede, restrict, or otherwise affect the ability of an individual to cast a provisional ballot in an election for Federal office or to have the ballot counted in the election if the individual is verified as a citizen of the United States pursuant to section 8(j) of the National Voter Registration Act of 1993 (as added by section 2(f)). SEC. 7. RULE OF CONSTRUCTION REGARDING EFFECT ON STATE EXEMPTIONS FROM OTHER FEDERAL LAWS. Nothing in this Act or in any amendment made by this Act may be construed to affect the exemption of a State from any requirement of any Federal law other than the National Voter Registration Act of 1993 (52 U.S.C. 20501 et seq.). SEC. 8. EFFECTIVE DATE. This Act and the amendments made by this Act shall take effect on the date of the enactment of this Act, and shall apply with respect to applications for voter registration which are submitted on or after such date. Union Calendar No. 455 118th CONGRESS 2d Session H. R. 8281 [Report No. 118-552] _______________________________________________________________________ A BILL To amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes. _______________________________________________________________________ June 14, 2024 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

usgpo

2024-06-24T00:12:27.752678

BILLS-118hres1303ih

Condemning the Biden administration’s politically motivated ban on liquefied natural gas exports to non-free trade agreement countries.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1303 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1303 Condemning the Biden administration's politically motivated ban on liquefied natural gas exports to non-free trade agreement countries. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 14, 2024 Mr. Weber of Texas (for himself, Mr. Meuser, Mrs. Bice, Mr. Cloud, Mr. Fulcher, Mr. Issa, Mr. Hudson, Mr. Self, Mr. Carter of Texas, Mr. Biggs, Mr. Higgins of Louisiana, Mr. Allen, Mr. Joyce of Pennsylvania, Mr. Guthrie, Mrs. Lesko, Mrs. Miller of Illinois, Mr. Armstrong, Mr. Bishop of North Carolina, Mr. Dunn of Florida, Mr. Fry, Mr. Kelly of Pennsylvania, Mr. Huizenga, Mr. Bacon, Mr. Estes, Mr. McCaul, Mr. Bilirakis, Mr. Duncan, Mr. Jackson of Texas, Mr. Bucshon, Mr. Baird, Mr. Rogers of Alabama, Mr. Babin, Mr. Arrington, Mr. Palmer, Mr. Nehls, Mr. Bean of Florida, Mr. Turner, Mr. Luetkemeyer, Mr. Lawler, and Mr. Scott Franklin of Florida) submitted the following resolution; which was referred to the Committee on Energy and Commerce, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ RESOLUTION Condemning the Biden administration's politically motivated ban on liquefied natural gas exports to non-free trade agreement countries. Whereas, on January 26, 2024, President Joe Biden and his administration announced a ban on pending approvals of liquefied natural gas (LNG) exports to non-free trade agreement countries until the Department of Energy can update the underlying analyses for authorizations; Whereas the Department of Energy has already commissioned 5 studies to examine the effects of United States LNG exports, and the results unanimously demonstrate the benefits to the United States economy and domestic natural gas prices; Whereas the Department of Energy is not required to halt pending LNG permits while conducting more environmental studies, as President Barack Obama and President Donald Trump conducted studies on liquefied natural gas without blocking export permits; Whereas data from the Energy Information Administration demonstrates that the United States exported more LNG than any other country in the first half of 2023, and the United States set a monthly record of 12,400,000,000 cubic feet per day in April 2024 as Freeport LNG increased its production; Whereas, according to the Department of Energy, the United States produces natural gas 41 percent more cleanly than Russian natural gas delivered to Europe; Whereas President Joe Biden campaigned on killing the fossil fuel industry, and this politically motivated decision has serious consequences for the United States and allies across the world; Whereas the United States ample, stable, and reliable production of natural gas helps enable exports and ensures United States natural gas can compete on the growing global market; Whereas the energy sector has historically been a pillar of strength for the United States economy, fostering innovation, driving technological advancements, and fueling prosperity across the Nation; Whereas many LNG companies proactively partner with local schools in communities where they operate to train and hire labor for high-paying jobs, with skills that are applicable to other jobs within the energy industry; and Whereas the Biden administration's disregard for the economic well-being of communities with LNG facilities and its residents demonstrates a lack of understanding of the critical role that energy plays in supporting United States families and communities: Now, therefore, be it Resolved, That the House of Representatives-- (1) condemns the Biden administration's reckless suspension of liquefied natural gas export permits; (2) calls for immediate action to lift the ban on liquefied natural gas export permits to restore confidence in the United States energy sector; (3) urges the Biden administration to prioritize the interests of United States workers and communities over partisan political agendas; and (4) shall transmit copies of this resolution to the President of the United States, the Secretary of Energy, and all relevant stakeholders to underscore the importance of preserving and advancing the United States liquefied natural gas industry. <all>

usgpo

2024-06-24T00:12:27.976602

BILLS-118hres1301ih

Expressing support for the inaugural Heart Recovery Awareness Day on February 20, 2025.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1301 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1301 Expressing support for the inaugural Heart Recovery Awareness Day on February 20, 2025. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 14, 2024 Mr. Moulton submitted the following resolution; which was referred to the Committee on Energy and Commerce _______________________________________________________________________ RESOLUTION Expressing support for the inaugural Heart Recovery Awareness Day on February 20, 2025. Whereas cardiovascular disease is the leading cause of death both globally and in the United States; Whereas one-third of all global deaths in 2021 were caused by a cardiovascular condition; Whereas cardiovascular disease accounted for 12 percent of total United States health expenditures from 2018-2019; Whereas heart recovery, which preserves the native heart, is a burgeoning field of medicine; Whereas heart recovery will positively impact Medicare resources through reduced hospital expenditures, reduced length of hospital stays, and fewer repeat hospital visits; Whereas heart recovery is increasingly helping patients live longer and fuller lives with their native hearts intact; and Whereas February 20, 2025, is designated to observe Heart Recovery Awareness Day: Now, therefore, be it Resolved, That the House of Representatives supports-- (1) the goals of Heart Recovery Awareness Day; (2) increasing awareness of innovative treatments available to patients with cardiovascular disease; (3) improving outcomes and quality of life for patients with heart failure; and (4) expanding access to treatments that change the standard of care for heart failure, such that all Americans regardless of age, gender, or geography can have an opportunity to preserve their native heart. <all>

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2024-06-24T00:12:28.013867

BILLS-118hr8752rh

Department of Homeland Security Appropriations Act, 2025

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8752 Reported in House (RH)] <DOC> Union Calendar No. 456 118th CONGRESS 2d Session H. R. 8752 [Report No. 118-553] Making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 14, 2024 Mr. Amodei, from the Committee on Appropriations, reported the following bill; which was committed to the Committee of the Whole House on the State of the Union and ordered to be printed _______________________________________________________________________ A BILL Making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2025, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the following sums are appropriated, out of any money in the Treasury not otherwise appropriated, for the Department of Homeland Security for the fiscal year ending September 30, 2025, and for other purposes, namely: TITLE I DEPARTMENTAL MANAGEMENT, INTELLIGENCE, SITUATIONAL AWARENESS, AND OVERSIGHT Office of the Secretary and Executive Management operations and support For necessary expenses of the Office of the Secretary and for executive management for operations and support, $281,358,000, of which $22,151,000 shall remain available until September 30, 2026: Provided, That $5,000,000 shall be withheld from obligation until the Secretary submits, to the Committees on Appropriations of the House of Representatives and the Senate, responses to all questions for the record for each hearing on the fiscal year 2026 budget submission for the Department of Homeland Security held by such Committees prior to July 1: Provided further, That not to exceed $30,000 shall be for official reception and representation expenses. Management Directorate operations and support For necessary expenses of the Management Directorate for operations and support, $1,637,290,000: Provided, That not to exceed $2,000 shall be for official reception and representation expenses. procurement, construction, and improvements For necessary expenses of the Management Directorate for procurement, construction, and improvements, $54,337,000, to remain available until September 30, 2027. federal protective service The revenues and collections of security fees credited to this account shall be available until expended for necessary expenses related to the protection of federally owned and leased buildings and for the operations of the Federal Protective Service. Intelligence, Analysis, and Situational Awareness operations and support For necessary expenses of the Office of Intelligence and Analysis and the Office of Homeland Security Situational Awareness for operations and support, $345,360,000, of which $105,701,000 shall remain available until September 30, 2026: Provided, That not to exceed $2,000,000 is available for facility needs associated with secure space at fusion centers, including improvements to buildings: Provided further, That not to exceed $3,825 shall be for official reception and representation expenses. Office of Inspector General operations and support For necessary expenses of the Office of Inspector General for operations and support, $225,294,000: Provided, That not to exceed $300,000 may be used for certain confidential operational expenses, including the payment of informants, to be expended at the direction of the Inspector General. Administrative Provisions Sec. 101. (a) The Secretary of Homeland Security shall submit a report not later than October 15, 2025, to the Inspector General of the Department of Homeland Security listing all grants and contracts awarded by any means other than full and open competition during fiscal years 2024 or 2025. (b) The Inspector General shall review the report required by subsection (a) to assess departmental compliance with applicable laws and regulations and report the results of that review to the Committees on Appropriations of the House of Representatives and the Senate not later than February 15, 2026. Sec. 102. Not later than 30 days after the last day of each month, the Chief Financial Officer of the Department of Homeland Security shall submit to the Committees on Appropriations of the House of Representatives and the Senate a monthly budget and staffing report that includes total obligations of the Department for that month and for the fiscal year at the appropriation and program, project, and activity levels, by the source year of the appropriation. Sec. 103. (a) The Secretary of Homeland Security, in consultation with the Secretary of the Treasury, shall notify the Committees on Appropriations of the House of Representatives and the Senate of any proposed transfers of funds available under section 9705(g)(4)(B) of title 31, United States Code, from the Department of the Treasury Forfeiture Fund to any agency within the Department of Homeland Security. (b) None of the funds identified for such a transfer may be obligated until the Committees on Appropriations of the House of Representatives and the Senate are notified of the proposed transfer. Sec. 104. All official costs associated with the use of Government aircraft by Department of Homeland Security personnel to support official travel of the Secretary and the Deputy Secretary shall be paid from amounts made available for the Office of the Secretary. Sec. 105. (a) The Under Secretary for Management shall brief the Committees on Appropriations of the House of Representatives and the Senate not later than 45 days after the end of each fiscal quarter on all Level 1 and Level 2 acquisition programs on the Master Acquisition Oversight list between Acquisition Decision Event and Full Operational Capability, including programs that have been removed from such list during the preceding quarter. (b) For each such program, the briefing described in subsection (a) shall include-- (1) a description of the purpose of the program, including the capabilities being acquired and the component(s) sponsoring the acquisition; (2) the total number of units, as appropriate, to be acquired annually until procurement is complete under the current acquisition program baseline; (3) the Acquisition Review Board status, including-- (A) the current acquisition phase by increment, as applicable; (B) the date of the most recent review; and (C) whether the program has been paused or is in breach status; (4) a comparison between the initial Department-approved acquisition program baseline cost, schedule, and performance thresholds and objectives and the program's current such thresholds and objectives, if applicable; (5) the lifecycle cost estimate, adjusted for comparison to the Future Years Homeland Security Program, including-- (A) the confidence level for the estimate; (B) the fiscal years included in the estimate; (C) a breakout of the estimate for the prior five years, the current year, and the budget year; (D) a breakout of the estimate by appropriation account or other funding source; and (E) a description of and rationale for any changes to the estimate as compared to the previously approved baseline, as applicable, and during the prior fiscal year; (6) a summary of the findings of any independent verification and validation of the items to be acquired or an explanation for why no such verification and validation has been performed; (7) a table displaying the obligation of all program funds by prior fiscal year, the estimated obligation of funds for the current fiscal year, and an estimate for the planned carryover of funds into the subsequent fiscal year; (8) a listing of prime contractors and major subcontractors; and (9) narrative descriptions of risks to cost, schedule, or performance that could result in a program breach if not successfully mitigated. (c) The Under Secretary for Management shall submit each approved Acquisition Decision Memorandum for programs described in this section to the Committees on Appropriations of the House of Representatives and the Senate not later than five business days after the date of approval of such memorandum by the Under Secretary for Management or the designee of the Under Secretary for Management. Sec. 106. (a) None of the funds made available to the Department of Homeland Security in this Act or prior appropriations Acts may be obligated for any new pilot or demonstration unless the component or office carrying out such pilot or demonstration has documented the information described in subsection (c). (b) Prior to the obligation of any such funds made available for ``Operations and Support'' for a new pilot or demonstration, the Under Secretary for Management shall provide a report to the Committees on Appropriations of the House of Representatives and the Senate on the information described in subsection (c). (c) The information required under subsections (a) and (b) for a pilot or demonstration shall include the following-- (1) documented objectives that are well-defined and measurable; (2) an assessment methodology that details-- (A) the type and source of assessment data; (B) the methods for, and frequency of, collecting such data; and (C) how such data will be analyzed; and (3) an implementation plan, including milestones, cost estimates, and implementation schedules, including a projected end date. (d) Not later than 90 days after the date of completion of a pilot or demonstration described in subsection (e), the Under Secretary for Management shall provide a report to the Committees on Appropriations of the House of Representatives and the Senate detailing lessons learned, actual costs, any planned expansion or continuation of the pilot or demonstration, and any planned transition of such pilot or demonstration into an enduring program or operation. (e) For the purposes of this section, a pilot or demonstration program is a study, demonstration, experimental program, or trial that-- (1) is a small-scale, short-term experiment conducted in order to evaluate feasibility, duration, costs, or adverse events, and improve upon the design of an effort prior to implementation of a larger scale effort; and (2) uses more than 10 full-time equivalents or obligates, or proposes to obligate, $5,000,000 or more, but does not include congressionally directed programs or enhancements and does not include programs that were in operation as of the date of the enactment of this Act. (f) For the purposes of this section, a pilot or demonstration does not include any testing, evaluation, or initial deployment phase executed under a procurement contract for the acquisition of information technology services or systems, or any pilot or demonstration carried out by a non-Federal recipient under any financial assistance agreement funded by the Department. TITLE II SECURITY, ENFORCEMENT, AND INVESTIGATIONS U.S. Customs and Border Protection operations and support (including transfer of funds) For necessary expenses of U.S. Customs and Border Protection for operations and support, including the transportation of unaccompanied alien minors; the provision of air and marine support to Federal, State, local, and international agencies in the enforcement or administration of laws enforced by the Department of Homeland Security; at the discretion of the Secretary of Homeland Security, the provision of such support to Federal, State, and local agencies in other law enforcement and emergency humanitarian efforts; the purchase and lease of up to 7,500 (6,500 for replacement only) police-type vehicles; the purchase, maintenance, or operation of marine vessels, aircraft, and unmanned aerial systems; and contracting with individuals for personal services abroad; $16,566,247,000; of which $3,274,000 shall be derived from the Harbor Maintenance Trust Fund for administrative expenses related to the collection of the Harbor Maintenance Fee pursuant to section 9505(c)(3) of the Internal Revenue Code of 1986 (26 U.S.C. 9505(c)(3)) and notwithstanding section 1511(e)(1) of the Homeland Security Act of 2002 (6 U.S.C. 551(e)(1)); of which $550,000,000 shall be available until September 30, 2026; and of which such sums as become available in the Customs User Fee Account, except sums subject to section 13031(f)(3) of the Consolidated Omnibus Budget Reconciliation Act of 1985 (19 U.S.C. 58c(f)(3)), shall be derived from that account: Provided, That not to exceed $34,425 shall be for official reception and representation expenses: Provided further, That not to exceed $150,000 shall be available for payment for rental space in connection with preclearance operations: Provided further, That not to exceed $2,000,000 shall be for awards of compensation to informants, to be accounted for solely under the certificate of the Secretary of Homeland Security: Provided further, That not to exceed $2,500,000 may be transferred to the Bureau of Indian Affairs for the maintenance and repair of roads on Native American reservations used by the U.S. Border Patrol. procurement, construction, and improvements For necessary expenses of U.S. Customs and Border Protection for procurement, construction, and improvements, including procurement of marine vessels, aircraft, and unmanned aerial systems, $1,390,338,000, of which $766,684,000 shall remain available until September 30, 2027, and of which $623,654,000 shall remain available until September 30, 2029. U.S. Immigration and Customs Enforcement operations and support For necessary expenses of U.S. Immigration and Customs Enforcement for operations and support, including the purchase and lease of up to 3,790 (2,350 for replacement only) police-type vehicles; overseas vetted units; and maintenance, minor construction, and minor leasehold improvements at owned and leased facilities; $10,497,243,000; of which not less than $6,000,000 shall remain available until expended for efforts to enforce laws against forced child labor; of which $46,696,000 shall remain available until September 30, 2026; of which not less than $2,000,000 is for paid apprenticeships for participants in the Human Exploitation Rescue Operative Child-Rescue Corps; of which not less than $15,000,000 shall be available for investigation of intellectual property rights violations, including operation of the National Intellectual Property Rights Coordination Center; and of which not less than $5,900,389,000 shall be for enforcement, detention, and removal operations, including transportation of unaccompanied alien minors, of which not less than $3,081,725,000 shall remain available until September 30, 2026: Provided, That not to exceed $11,475 shall be for official reception and representation expenses: Provided further, That not to exceed $10,000,000 shall be available until expended for conducting special operations under section 3131 of the Customs Enforcement Act of 1986 (19 U.S.C. 2081): Provided further, That not to exceed $2,000,000 shall be for awards of compensation to informants, to be accounted for solely under the certificate of the Secretary of Homeland Security: Provided further, That not to exceed $11,216,000 shall be available to fund or reimburse other Federal agencies for the costs associated with the care, maintenance, and repatriation of smuggled aliens unlawfully present in the United States: Provided further, That not less than $2,000,000 shall be for entering into new agreements for the delegation of law enforcement authority provided by section 287(g) of the Immigration and Nationality Act: Provided further, That funding made available under this heading shall maintain a level of not less than 50,000 detention beds. procurement, construction, and improvements For necessary expenses of U.S. Immigration and Customs Enforcement for procurement, construction, and improvements, $19,548,000, of which $6,548,000 shall remain available until September 30, 2027, and of which $13,000,000 shall remain available until September 30, 2029. Transportation Security Administration operations and support For necessary expenses of the Transportation Security Administration for operations and support, $10,817,225,000, of which $300,000,000 shall remain available until September 30, 2026: Provided, That not to exceed $7,650 shall be for official reception and representation expenses: Provided further, That security service fees authorized under section 44940 of title 49, United States Code, shall be credited to this appropriation as offsetting collections and shall be available only for aviation security: Provided further, That the sum appropriated under this heading from the general fund shall be reduced on a dollar-for-dollar basis as such offsetting collections are received during fiscal year 2025 so as to result in a final fiscal year appropriation from the general fund estimated at not more than $7,957,225,000. procurement, construction, and improvements For necessary expenses of the Transportation Security Administration for procurement, construction, and improvements, $198,428,000, to remain available until September 30, 2027. research and development For necessary expenses of the Transportation Security Administration for research and development, $17,990,000, to remain available until September 30, 2026. Coast Guard operations and support For necessary expenses of the Coast Guard for operations and support including the Coast Guard Reserve; purchase or lease of not to exceed 25 passenger motor vehicles, which shall be for replacement only; purchase or lease of small boats for contingent and emergent requirements (at a unit cost of not more than $700,000) and repairs and service-life replacements, not to exceed a total of $31,000,000; purchase, lease, or improvements of boats necessary for overseas deployments and activities; payments pursuant to section 156 of Public Law 97-377 (42 U.S.C. 402 note; 96 Stat. 1920); and recreation and welfare; $10,554,261,000, of which $530,000,000 shall be for defense- related activities; of which $24,500,000 shall be derived from the Oil Spill Liability Trust Fund to carry out the purposes of section 1012(a)(5) of the Oil Pollution Act of 1990 (33 U.S.C. 2712(a)(5)); of which $20,000,000 shall remain available until September 30, 2027; of which $24,359,000 shall remain available until September 30, 2029, for environmental compliance and restoration; and of which $100,000,000 shall remain available until September 30, 2026, which shall only be available for vessel depot level maintenance: Provided, That not to exceed $23,000 shall be for official reception and representation expenses. procurement, construction, and improvements For necessary expenses of the Coast Guard for procurement, construction, and improvements, including aids to navigation, shore facilities (including facilities at Department of Defense installations used by the Coast Guard), and vessels and aircraft, including equipment related thereto, $2,128,500,000, to remain available until September 30, 2029; of which $20,000,000 shall be derived from the Oil Spill Liability Trust Fund to carry out the purposes of section 1012(a)(5) of the Oil Pollution Act of 1990 (33 U.S.C. 2712(a)(5)). research and development For necessary expenses of the Coast Guard for research and development; and for maintenance, rehabilitation, lease, and operation of facilities and equipment; $6,763,000, to remain available until September 30, 2027, of which $500,000 shall be derived from the Oil Spill Liability Trust Fund to carry out the purposes of section 1012(a)(5) of the Oil Pollution Act of 1990 (33 U.S.C. 2712(a)(5)): Provided, That there may be credited to and used for the purposes of this appropriation funds received from State and local governments, other public authorities, private sources, and foreign countries for expenses incurred for research, development, testing, and evaluation. retired pay For retired pay, including the payment of obligations otherwise chargeable to lapsed appropriations for this purpose, payments under the Retired Serviceman's Family Protection and Survivor Benefits Plans, payment for career status bonuses, payment of continuation pay under section 356 of title 37, United States Code, concurrent receipts, combat-related special compensation, and payments for medical care of retired personnel and their dependents under chapter 55 of title 10, United States Code, $1,210,840,000, to remain available until expended. United States Secret Service operations and support For necessary expenses of the United States Secret Service for operations and support, including purchase of not to exceed 652 vehicles for police-type use; hire of passenger motor vehicles; purchase of motorcycles made in the United States; hire of aircraft; rental of buildings in the District of Columbia; fencing, lighting, guard booths, and other facilities on private or other property not in Government ownership or control, as may be necessary to perform protective functions; conduct of and participation in firearms matches; presentation of awards; conduct of behavioral research in support of protective intelligence and operations; payment in advance for commercial accommodations as may be necessary to perform protective functions; and payment, without regard to section 5702 of title 5, United States Code, of subsistence expenses of employees who are on protective missions, whether at or away from their duty stations; $3,017,524,000; of which $80,041,000 shall remain available until September 30, 2026, and of which $6,000,000 shall be for a grant for activities related to investigations of missing and exploited children; and of which up to $24,000,000 may be for calendar year 2024 premium pay in excess of the annual equivalent of the limitation on the rate of pay contained in section 5547(a) of title 5, United States Code, pursuant to section 2 of the Overtime Pay for Protective Services Act of 2016 (5 U.S.C. 5547 note), as last amended by Public Law 118-38: Provided, That not to exceed $19,125 shall be for official reception and representation expenses: Provided further, That not to exceed $100,000 shall be to provide technical assistance and equipment to foreign law enforcement organizations in criminal investigations within the jurisdiction of the United States Secret Service. procurement, construction, and improvements For necessary expenses of the United States Secret Service for procurement, construction, and improvements, $138,336,000, of which $53,436,000 shall remain available until September 30, 2027, and of which $84,900,000 shall remain available until September 30, 2029. research and development For necessary expenses of the United States Secret Service for research and development, $2,250,000, to remain available until September 30, 2026. Administrative Provisions Sec. 201. Section 201 of the Department of Homeland Security Appropriations Act, 2018 (division F of Public Law 115-141), related to overtime compensation limitations, shall apply with respect to funds made available in this Act in the same manner as such section applied to funds made available in that Act, except that ``fiscal year 2025'' shall be substituted for ``fiscal year 2018''. Sec. 202. Funding made available under the headings ``U.S. Customs and Border Protection--Operations and Support'' and ``U.S. Customs and Border Protection--Procurement, Construction, and Improvements'' shall be available for customs expenses when necessary to maintain operations and prevent adverse personnel actions in Puerto Rico and the U.S. Virgin Islands, in addition to funding provided by sections 740 and 1406i of title 48, United States Code. Sec. 203. As authorized by section 601(b) of the United States- Colombia Trade Promotion Agreement Implementation Act (Public Law 112- 42), fees collected from passengers arriving from Canada, Mexico, or an adjacent island pursuant to section 13031(a)(5) of the Consolidated Omnibus Budget Reconciliation Act of 1985 (19 U.S.C. 58c(a)(5)) shall be available until expended. Sec. 204. (a) For an additional amount for ``U.S. Customs and Border Protection--Operations and Support'', $31,000,000, to remain available until expended, to be reduced by amounts collected and credited to this appropriation in fiscal year 2025 from amounts authorized to be collected by section 286(i) of the Immigration and Nationality Act (8 U.S.C. 1356(i)), section 10412 of the Farm Security and Rural Investment Act of 2002 (7 U.S.C. 8311), and section 817 of the Trade Facilitation and Trade Enforcement Act of 2015 (Public Law 114-125), or other such authorizing language. (b) To the extent that amounts realized from such collections exceed $31,000,000, those amounts in excess of $31,000,000 shall be credited to this appropriation, to remain available until expended. Sec. 205. None of the funds made available in this Act for U.S. Customs and Border Protection may be used to prevent an individual not in the business of importing a prescription drug (within the meaning of section 801(g) of the Federal Food, Drug, and Cosmetic Act) from importing a prescription drug from Canada that complies with the Federal Food, Drug, and Cosmetic Act: Provided, That this section shall apply only to individuals transporting on their person a personal-use quantity of the prescription drug, not to exceed a 90-day supply: Provided further, That the prescription drug may not be-- (1) a controlled substance, as defined in section 102 of the Controlled Substances Act (21 U.S.C. 802); or (2) a biological product, as defined in section 351 of the Public Health Service Act (42 U.S.C. 262). Sec. 206. (a) Notwithstanding any other provision of law, none of the funds provided in this or any other Act shall be used to approve a waiver of the navigation and vessel-inspection laws pursuant to section 501(b) of title 46, United States Code, for the transportation of crude oil distributed from and to the Strategic Petroleum Reserve until the Secretary of Homeland Security, after consultation with the Secretaries of the Departments of Energy and Transportation and representatives from the United States flag maritime industry, takes adequate measures to ensure the use of United States flag vessels. (b) The Secretary shall notify the Committees on Appropriations of the House of Representatives and the Senate, the Committee on Transportation and Infrastructure of the House of Representatives, and the Committee on Commerce, Science, and Transportation of the Senate within 2 business days of any request for waivers of navigation and vessel-inspection laws pursuant to section 501(b) of title 46, United States Code, with respect to such transportation, and the disposition of such requests. Sec. 207. (a) Beginning on the date of enactment of this Act, the Secretary of Homeland Security shall not-- (1) establish, collect, or otherwise impose any new border crossing fee on individuals crossing the Southern border or the Northern border at a land port of entry; or (2) conduct any study relating to the imposition of a border crossing fee. (b) In this section, the term ``border crossing fee'' means a fee that every pedestrian, cyclist, and driver and passenger of a private motor vehicle is required to pay for the privilege of crossing the Southern border or the Northern border at a land port of entry. Sec. 208. (a) Not later than 90 days after the date of enactment of this Act, the Commissioner of U.S. Customs and Border Protection shall submit an expenditure plan for any amounts made available for ``U.S. Customs and Border Protection--Procurement, Construction, and Improvements'' in this Act and prior Acts to the Committees on Appropriations of the House of Representatives and the Senate. (b) No such amounts provided in this Act may be obligated prior to the submission of such plan. Sec. 209. Section 211 of the Department of Homeland Security Appropriations Act, 2021 (division F of Public Law 116-260), prohibiting the use of funds for the construction of fencing in certain areas, shall apply with respect to funds made available in this Act in the same manner as such section applied to funds made available in that Act. Sec. 210. (a) Funds made available in this Act may be used to alter operations within the National Targeting Center of U.S. Customs and Border Protection. (b) None of the funds provided by this Act, provided by previous appropriations Acts that remain available for obligation or expenditure in fiscal year 2025, or provided from any accounts in the Treasury of the United States derived by the collection of fees available to the components funded by this Act, may be used to reduce anticipated or planned vetting operations at existing locations unless specifically authorized by a statute enacted after the date of enactment of this Act. Sec. 211. (a) Of the total amount made available under ``U.S. Customs and Border Protection--Procurement, Construction, and Improvements'', $1,390,338,000 shall be available only as follows: (1) $600,000,000 for the acquisition and deployment of physical barriers; (2) $300,000,000 for the acquisition and deployment of border security technologies; (3) $305,000,000 for trade and travel assets and infrastructure; (4) $23,654,000 for facility construction and improvements; (5) $131,419,000 for integrated operations assets and infrastructure; and (6) $30,265,000 for mission support and infrastructure. (b) None of the funds allocated for pedestrian physical barriers may be made available for any purpose other than the construction of steel bollard pedestrian barrier built at least 18 to 30 feet in effective height and augmented with anti-climb and anti-dig features. (c) None of the funds allocated for pedestrian physical barriers may be made available for any purpose other than construction of pedestrian barriers consistent with the description in subsection (b) at locations identified in the Border Security Improvement Plan submitted to Congress on August 1, 2020. (d) The Commissioner of U.S. Customs and Border Protection may reprioritize the construction of physical barriers outlined in the Border Security Improvement Plan and, with prior approval of the Committees on Appropriations of the House of Representatives and the Senate, add additional miles of pedestrian physical barriers where no such barriers exist, prioritized by operational requirements developed in coordination with U.S. Border Patrol leadership. (e) The Secretary of Homeland Security shall begin to obligate amounts for physical barrier construction no later than 120 days after the date of enactment of this Act. (f) For purposes of this section, the term ``effective height'' refers to the height above the level of the adjacent terrain features. Sec. 212. None of the funds appropriated or otherwise made available by this Act may be obligated, expended, or transferred to another Federal agency, board, or commission to be used to dismantle, demolish, remove, or damage existing United States-Mexico physical barriers at any location where such barriers have been constructed as of the date of enactment of this Act unless such barrier is simultaneously being repaired or replaced. Sec. 213. None of the funds appropriated or otherwise made available by this Act may be made available to utilize the U.S. Customs and Border Protection CBP One Application, or any successor application, to facilitate the parole of any alien into the United States. Sec. 214. None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, or otherwise carry out the policies described in the directive issued by the Acting Commissioner of U.S. Customs and Border Protection on January 10, 2023, entitled ``Emergency Driving and Vehicular Pursuits''. Sec. 215. None of the funds appropriated or otherwise made available by this Act may be made available to admit an alien into the United States at a port of entry on an F or M visa if the college, university, or other institution of higher learning that the student will attend is not accredited by a nationally recognized accrediting agency or association recognized by the Secretary of Education pursuant to part H of title IV of the Higher Education Act of 1965 (20 U.S.C. 1099a et seq.). Sec. 216. None of the funds appropriated or otherwise made available by this Act may be made available to parole into the Commonwealth of the Northern Mariana Islands, for the purpose of temporary visit for business or pleasure without a visa, an alien who is a national of the People's Republic of China. Sec. 217. (a) None of the funds appropriated or otherwise made available by this Act may be used by U.S. Customs and Border Protection to admit into the United States any aerosol-dispensing unmanned aircraft system produced or manufactured in a foreign adversary country. (b) The term ``foreign adversary country'' means a country specified in section 4872(d)(2) of title 10, United States Code. Sec. 218. None of the funds appropriated or otherwise made available by this Act may be made available to reduce participation in or substantively diminish the delegation of law enforcement authority authorized under section 287(g) of the Immigration and Nationality Act (8 U.S.C. 1357(g)), except as provided in section 219 of this Act. Sec. 219. None of the funds provided under the heading ``U.S. Immigration and Customs Enforcement--Operations and Support'' may be used to continue a delegation of law enforcement authority authorized under section 287(g) of the Immigration and Nationality Act (8 U.S.C. 1357(g)) if the Department of Homeland Security Inspector General determines that the terms of the agreement governing the delegation of authority have been materially violated. Sec. 220. (a) None of the funds provided under the heading ``U.S. Immigration and Customs Enforcement--Operations and Support'' may be used to continue any contract for the provision of detention services if the two most recent overall performance evaluations received by the contracted facility are less than ``adequate'' or the equivalent median score in any subsequent performance evaluation system. (b) The performance evaluations referenced in subsection (a) shall be conducted by the U.S. Immigration and Customs Enforcement Office of Professional Responsibility. Sec. 221. Without regard to the limitation as to time and condition of section 503(d) of this Act, the Secretary may reprogram within and transfer funds to ``U.S. Immigration and Customs Enforcement--Operations and Support'' as necessary to ensure the detention of aliens prioritized for removal. Sec. 222. The reports required to be submitted under section 216 of the Department of Homeland Security Appropriations Act, 2021 (division F of Public Law 116-260) shall continue to be submitted semimonthly and each matter required to be included in such reports by such section 216 shall apply in the same manner and to the same extent during the period described in such section 216. Sec. 223. The terms and conditions of section 217 of the Department of Homeland Security Appropriations Act, 2020 (division D of Public Law 116-93) shall apply to this Act. Sec. 224. None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, or otherwise carry out the activities and policies described in the memorandum issued by the Secretary of Homeland Security on September 30, 2021, entitled ``Guidelines for the Enforcement of Civil Immigration Law'', or described in the memorandum issued by Kerry Doyle, Immigration and Customs Enforcement Principal Legal Advisor on April 3, 2022, entitled ``Guidance to OPLA Attorneys Regarding the Enforcement of Civil Immigration Laws and the Exercise of Prosecutorial Discretion'', or any successor or similar memorandum or policy. Sec. 225. (a) None of the funds appropriated or otherwise made available by this Act may be made available to transport aliens unlawfully present in, paroled into, or inadmissible to the United States into the interior of the United States for purposes other than enforcement of the immigration laws (as such term is defined in section 101 of the Immigration and Nationality Act (8 U.S.C. 1101)). (b) The limitation under subsection (a) shall not apply with respect to amounts made available to transport unaccompanied alien children (as such term is defined in section 462 of the Homeland Security Act of 2002 (6 U.S.C. 279)). Sec. 226. (a) None of the funds appropriated or otherwise made available by this Act for ``U.S. Immigration and Customs Enforcement'' may be used to pay for or facilitate an abortion, except where the life of the mother would be endangered if the fetus would be carried to term, or in the case of rape or incest. (b) None of the funds appropriated or otherwise made available by this Act for ``U.S. Immigration and Customs Enforcement'' may be used to require any person to perform, or facilitate in any way the performance of, any abortion. Sec. 227. None of the funds appropriated or otherwise made available by this Act may be made available to administer hormone therapy medication or perform or facilitate any surgery for any person in custody of U.S. Immigration and Customs Enforcement for the purpose of gender-affirming care. Sec. 228. The Secretary of Homeland Security shall allocate amounts appropriated or otherwise made available under the heading ``U.S. Immigration and Customs Enforcement--Operations and Support'' by this Act in order to-- (1) prioritize detention by using such amounts to ensure that the average daily population of detainees is maintained at the full capacity at all detention facilities funded by this Act throughout the fiscal year; and (2) ensure that every alien on the non-detained docket is enrolled into the Alternatives to Detention Program with mandatory GPS monitoring throughout the duration of all applicable immigration proceedings (including any appeals) and until removal, if ordered removed. Sec. 229. Not later than 45 days after the date of enactment of this Act, the Chief Financial Officer of U.S. Immigration and Customs Enforcement shall submit to the Committees on Appropriations of the House of Representatives and the Senate an obligation plan for amounts made available in this Act for ``U.S. Immigration and Customs Enforcement'', delineated by level II program, project, and activity. Sec. 230. None of the funds provided under the heading ``U.S. Immigration and Customs Enforcement--Operations and Support'' may be made available to develop or administer a physical identification card for purposes of alien identification, verification of immigration status, or immigration portal access. Sec. 231. None of the funds provided under the heading ``U.S. Immigration and Customs Enforcement--Operations and Support'' may be made available to develop, pilot, administer, or otherwise implement standards for management of the non-detained alien population or for the Alternatives to Detention Program beyond those incorporated in the Alternatives to Detention Handbook, issued on August 16, 2017. Sec. 232. None of the funds provided under the heading ``U.S. Immigration and Customs Enforcement--Operations and Support'' may be made available to implement, administer, or otherwise carry out the activities, policies, and guidelines described in the memorandum issued by the Secretary of Homeland Security on October 27, 2021, entitled ``Guidelines for Enforcement Actions in or Near Protected Areas''. Sec. 233. No law of any State or political subdivision thereof pertaining to a minimum rate of compensation or any other condition of employment shall apply in the case of any person held in Federal custody pursuant to the immigration laws (as such term is defined in section 101 of the Immigration and Nationality Act (8 U.S.C.1101)). Sec. 234. (a) Members of the United States House of Representatives and the United States Senate, including the leadership; the heads of Federal agencies and commissions, including the Secretary, Deputy Secretary, Under Secretaries, and Assistant Secretaries of the Department of Homeland Security; the United States Attorney General, Deputy Attorney General, Assistant Attorneys General, and the United States Attorneys; and senior members of the Executive Office of the President, including the Director of the Office of Management and Budget, shall not be exempt from Federal passenger and baggage screening. (b) None of the funds made available in this or any other Act, including prior Acts, or provided from any accounts in the Treasury of the United States derived by the collection of fees available to the components funded by this Act may be used to carry out legislation altering the applicability of the screening requirements outlined in subsection (a). Sec. 235. Notwithstanding section 44923 of title 49, United States Code, for fiscal year 2025, any funds in the Aviation Security Capital Fund established by section 44923(h) of title 49, United States Code, may be used for the procurement and installation of explosives detection systems or for the issuance of other transaction agreements for the purpose of funding projects described in section 44923(a) of such title. Sec. 236. Not later than 45 days after the submission of the President's budget proposal, the Administrator of the Transportation Security Administration shall submit to the Committees on Appropriations and Homeland Security of the House of Representatives and the Committees on Appropriations and Commerce, Science, and Transportation of the Senate a single report that fulfills the following requirements: (1) a Capital Investment Plan, both constrained and unconstrained, that includes a plan for continuous and sustained capital investment in new, and the replacement of aged, transportation security equipment; (2) the 5-year technology investment plan as required by section 1611 of title XVI of the Homeland Security Act of 2002, as amended by section 3 of the Transportation Security Acquisition Reform Act (Public Law 113-245); and (3) the Advanced Integrated Passenger Screening Technologies report as required by the Senate Report accompanying the Department of Homeland Security Appropriations Act, 2019 (Senate Report 115-283). Sec. 237. (a) None of the funds made available by this Act under the heading ``Coast Guard--Operations and Support'' shall be for expenses incurred for recreational vessels under section 12114 of title 46, United States Code, except to the extent fees are collected from owners of yachts and credited to the appropriation made available by this Act under the heading ``Coast Guard--Operations and Support''. (b) To the extent such fees are insufficient to pay expenses of recreational vessel documentation under such section 12114, and there is a backlog of recreational vessel applications, personnel performing non-recreational vessel documentation functions under subchapter II of chapter 121 of title 46, United States Code, may perform documentation under section 12114. Sec. 238. Notwithstanding any other provision of law, the Commandant of the Coast Guard shall submit to the Committees on Appropriations of the House of Representatives and the Senate a future- years capital investment plan as described in the second proviso under the heading ``Coast Guard--Acquisition, Construction, and Improvements'' in the Department of Homeland Security Appropriations Act, 2015 (Public Law 114-4), which shall be subject to the requirements in the third and fourth provisos under such heading. Sec. 239. None of the funds in this Act shall be used to reduce the Coast Guard's legacy Operations Systems Center mission or its government-employed or contract staff levels. Sec. 240. None of the funds appropriated by this Act may be used to conduct, or to implement the results of, a competition under Office of Management and Budget Circular A-76 for activities performed with respect to the Coast Guard National Vessel Documentation Center. Sec. 241. Funds made available in this Act may be used to alter operations within the Civil Engineering Program of the Coast Guard nationwide, including civil engineering units, facilities design and construction centers, maintenance and logistics commands, and the Coast Guard Academy, except that none of the funds provided in this Act may be used to reduce operations within any civil engineering unit unless specifically authorized by a statute enacted after the date of enactment of this Act. Sec. 242. Amounts deposited into the Coast Guard Housing Fund in fiscal year 2025 shall be available until expended to carry out the purposes of section 2946 of title 14, United States Code, and shall be in addition to funds otherwise available for such purposes. Sec. 243. None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, or enforce a Final Rule on ``Shipping Safety Fairways Along the Atlantic Coast'' (89 Fed. Reg. 3587) until the Coast Guard submits a report to the Committees on Appropriations of the House of Representatives and the Senate on the effect of offshore wind turbines on marine navigation radar, especially with regard to search and rescue interference. Sec. 244. None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, or enforce a Final Rule on ``Amendments to the North Atlantic Right Whale Vessel Strike Reduction Rule'' (87 Fed. Reg. 46920) or any restrictions on vessel speed for the Rice's whale that were not in place prior to January 20, 2021. Sec. 245. The United States Secret Service is authorized to obligate funds in anticipation of reimbursements from executive agencies, as defined in section 105 of title 5, United States Code, for personnel receiving training sponsored by the James J. Rowley Training Center, except that total obligations at the end of the fiscal year shall not exceed total budgetary resources available under the heading ``United States Secret Service--Operations and Support'' at the end of the fiscal year. Sec. 246. (a) None of the funds made available to the United States Secret Service by this Act or by previous appropriations Acts may be made available for the protection of the head of a Federal agency other than the Secretary of Homeland Security. (b) The Director of the United States Secret Service may enter into agreements to provide such protection on a fully reimbursable basis. Sec. 247. For purposes of section 503(a)(3) of this Act, up to $15,000,000 may be reprogrammed within ``United States Secret Service-- Operations and Support''. Sec. 248. Funding made available in this Act for ``United States Secret Service--Operations and Support'' is available for travel of United States Secret Service employees on protective missions without regard to the limitations on such expenditures in this or any other Act if the Director of the United States Secret Service or a designee notifies the Committees on Appropriations of the House of Representatives and the Senate 10 or more days in advance, or as early as practicable, prior to such expenditures. Sec. 249. None of the funds provided under the heading ``U.S. Immigration and Customs Enforcement--Operations and Support'' may be made available to terminate or substantively reduce the terms or conditions of a contract for the provision of detention services with any facility that was previously or is currently designated as a Family Residential Center. Sec. 250. (a) The Secretary of the department in which the Coast Guard is operating shall ensure that, during the fiscal year funded by this Act, the imposition or collection of cost-sharing for certain services is prohibited as follows-- (1) Notwithstanding subparagraphs (A), (B), and (C) of section 1074g(a)(6) of title 10, United States Code, cost- sharing may not be imposed or collected with respect to any eligible covered beneficiary for any prescription contraceptive on the uniform formulary provided through a retail pharmacy described in section 1074g(a)(2)(E)(ii) of such title or through the national mail-order pharmacy program of the TRICARE Program. (2) Notwithstanding any provision under section 1075 of title 10, United States Code, cost-sharing may not be imposed or collected for a covered service that is provided by a network provider under the TRICARE program to an eligible covered beneficiary under such section. (3) Notwithstanding subsections (a), (b), and (c) of section 1075a of title 10, United States Code, cost-sharing may not be imposed or collected for a covered service that is provided under TRICARE Prime to an eligible covered beneficiary under such section. (b) In this section-- (1) The term ``covered service'' means any method of contraception approved, granted, or cleared by the Food and Drug Administration, any contraceptive care (including with respect to insertion, removal, and follow up), any sterilization procedure, or any patient education or counseling service provided in connection with any such method, care, or procedure. (2) The term ``eligible covered beneficiary'' means an eligible covered beneficiary (as such term is used in section 1074g of title 10, United States Code) on the basis of being-- (A) a member of the Coast Guard; or (B) a dependent of such a member. (3) The terms ``TRICARE Program'' and ``TRICARE Prime'' have the meaning given such terms in section 1072 of title 10, United States Code. (c) This section shall become effective 30 days after the date of enactment of this Act. Sec. 251. (a) Contraceptive supplies of up to 365 days shall be covered for any eligible covered beneficiary to obtain, including in a single fill or refill, at the option of such beneficiary, the total days of supply (not to exceed a 365-day supply) for a contraceptive on the uniform formulary provided through a military treatment facility pharmacy, retail pharmacy described in section 1074g(a)(2)(E)(ii) of such title, or through the national mail-order pharmacy program of the TRICARE Program. (b) Beginning not later than 90 days after the implementation of coverage under subsection (a), the Secretary of the department in which the Coast Guard is operating shall conduct such outreach activities as are necessary to inform health care providers and individuals who are enrolled in the TRICARE program of such coverage and the requirements to receive such coverage. (c) In this section-- (1) The term ``covered Armed Force'' means the Coast Guard. (2) The term ``eligible covered beneficiary'' means an eligible covered beneficiary as such term is used in section 1074g of title 10, United States Code who is-- (A) a member of a covered Armed Force serving on active duty; or (B) a dependent of a member described in subparagraph (A). (3) The terms ``TRICARE Program'' and ``TRICARE Prime'' have the meaning given such terms in section 1072 of title 10, United States Code. (d) This section shall become effective 180 days after the date of enactment of this Act. TITLE III PROTECTION, PREPAREDNESS, RESPONSE, AND RECOVERY Cybersecurity and Infrastructure Security Agency operations and support For necessary expenses of the Cybersecurity and Infrastructure Security Agency for operations and support, $2,437,285,000, of which $23,698,000 shall remain available until September 30, 2026: Provided, That not to exceed $3,825 shall be for official reception and representation expenses. procurement, construction, and improvements For necessary expenses of the Cybersecurity and Infrastructure Security Agency for procurement, construction, and improvements, $493,572,000, to remain available until September 30, 2027. Federal Emergency Management Agency operations and support For necessary expenses of the Federal Emergency Management Agency for operations and support, $1,551,093,000: Provided, That not to exceed $2,250 shall be for official reception and representation expenses. procurement, construction, and improvements For necessary expenses of the Federal Emergency Management Agency for procurement, construction, and improvements, $94,827,000, of which $38,590,000 shall remain available until September 30, 2027, and of which $56,237,000 shall remain available until September 30, 2029. federal assistance For activities of the Federal Emergency Management Agency for Federal assistance through grants, contracts, cooperative agreements, and other activities, $3,758,992,810, which shall be allocated as follows: (1) $520,000,000 for the State Homeland Security Grant Program under section 2004 of the Homeland Security Act of 2002 (6 U.S.C. 605), of which $90,000,000 shall be for Operation Stonegarden and $15,000,000 shall be for Tribal Homeland Security Grants under section 2005 of the Homeland Security Act of 2002 (6 U.S.C. 606): Provided, That notwithstanding subsection (c)(4) of such section 2004, for fiscal year 2025, the Commonwealth of Puerto Rico shall make available to local and tribal governments amounts provided to the Commonwealth of Puerto Rico under this paragraph in accordance with subsection (c)(1) of such section 2004. (2) $615,000,000 for the Urban Area Security Initiative under section 2003 of the Homeland Security Act of 2002 (6 U.S.C. 604). (3) $305,000,000 for the Nonprofit Security Grant Program under section 2009 of the Homeland Security Act of 2002 (6 U.S.C. 609a), of which $152,500,000 is for eligible recipients located in high-risk urban areas that receive funding under section 2003 of such Act and $152,500,000 is for eligible recipients that are located outside such areas: Provided, That eligible recipients are those described in section 2009(b) of such Act (6 U.S.C. 609a(b)) or are an otherwise eligible recipient at risk of a terrorist or other extremist attack. (4) $105,000,000 for Public Transportation Security Assistance, Railroad Security Assistance, and Over-the-Road Bus Security Assistance under sections 1406, 1513, and 1532 of the Implementing Recommendations of the 9/11 Commission Act of 2007 (6 U.S.C. 1135, 1163, and 1182), of which $10,000,000 shall be for Amtrak security and $2,000,000 shall be for Over-the-Road Bus Security: Provided, That such public transportation security assistance shall be provided directly to public transportation agencies. (5) $100,000,000 for Port Security Grants in accordance with section 70107 of title 46, United States Code. (6) $720,000,000, to remain available until September 30, 2026, of which $360,000,000 shall be for Assistance to Firefighter Grants and $360,000,000 shall be for Staffing for Adequate Fire and Emergency Response Grants under sections 33 and 34 respectively of the Federal Fire Prevention and Control Act of 1974 (15 U.S.C. 2229 and 2229a). (7) $355,000,000 for emergency management performance grants under the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.), the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5121), the Earthquake Hazards Reduction Act of 1977 (42 U.S.C. 7701), section 762 of title 6, United States Code, and Reorganization Plan No. 3 of 1978 (5 U.S.C. App.). (8) $312,750,000 for necessary expenses for Flood Hazard Mapping and Risk Analysis, in addition to and to supplement any other sums appropriated under the National Flood Insurance Fund, and such additional sums as may be provided by States or other political subdivisions for cost-shared mapping activities under section 1360(f)(2) of the National Flood Insurance Act of 1968 (42 U.S.C. 4101(f)(2)), to remain available until expended. (9) $12,000,000 for Regional Catastrophic Preparedness Grants. (10) $130,000,000 for the emergency food and shelter program under title III of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11331), to remain available until September 30, 2026: Provided, That not to exceed 3.5 percent shall be for total administrative costs. (11) $40,000,000 for the Next Generation Warning System. (12) $221,343,810 for Community Project Funding grants, which shall be for the purposes, and the amounts, specified in the table entitled ``Homeland Security--Community Project Funding'' in the report accompanying this Act, of which-- (A) $81,771,896, in addition to amounts otherwise made available for such purpose, is for emergency operations center grants under section 614 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5196c); and (B) $139,571,914, in addition to amounts otherwise made available for such purpose, is for pre-disaster mitigation grants under section 203 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5133(e), notwithstanding subsections (f), (g), and (l) of that section (42 U.S.C. 5133(f), (g), (l)). (13) $322,899,000 to sustain current operations for training, exercises, technical assistance, and other programs. disaster relief fund For necessary expenses in carrying out the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5121 et seq.), $22,741,000,000, to remain available until expended: Provided, That such amount shall be for major disasters declared pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5121 et seq.) and is designated by the Congress as being for disaster relief pursuant to section 251(b)(2)(D) of the Balanced Budget and Emergency Deficit Control Act of 1985. national flood insurance fund For activities under the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.), the Flood Disaster Protection Act of 1973 (42 U.S.C. 4001 et seq.), the Biggert-Waters Flood Insurance Reform Act of 2012 (Public Law 112-141, 126 Stat. 916), and the Homeowner Flood Insurance Affordability Act of 2014 (Public Law 113-89; 128 Stat. 1020), $239,785,000, to remain available until September 30, 2026, which shall be derived from offsetting amounts collected under section 1308(d) of the National Flood Insurance Act of 1968 (42 U.S.C. 4015(d)); of which $14,578,000 shall be available for mission support associated with flood management; and of which $225,207,000 shall be available for flood plain management and flood mapping: Provided, That any additional fees collected pursuant to section 1308(d) of the National Flood Insurance Act of 1968 (42 U.S.C. 4015(d)) shall be credited as offsetting collections to this account, to be available for flood plain management and flood mapping: Provided further, That in fiscal year 2025, no funds shall be available from the National Flood Insurance Fund under section 1310 of the National Flood Insurance Act of 1968 (42 U.S.C. 4017) in excess of-- (1) $240,262,000 for operating expenses and salaries and expenses associated with flood insurance operations; (2) $1,382,000,000 for commissions and taxes of agents; (3) such sums as are necessary for interest on Treasury borrowings; and (4) $175,000,000, which shall remain available until expended, for flood mitigation actions and for flood mitigation assistance under section 1366 of the National Flood Insurance Act of 1968 (42 U.S.C. 4104c), notwithstanding sections 1366(e) and 1310(a)(7) of such Act (42 U.S.C. 4104c(e), 4017): Provided further, That the amounts collected under section 102 of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a) and section 1366(e) of the National Flood Insurance Act of 1968 (42 U.S.C. 4104c(e)), shall be deposited in the National Flood Insurance Fund to supplement other amounts specified as available for section 1366 of the National Flood Insurance Act of 1968, notwithstanding section 102(f)(8), section 1366(e) of the National Flood Insurance Act of 1968, and paragraphs (1) through (3) of section 1367(b) of such Act (42 U.S.C. 4012a(f)(8), 4104c(e), 4104d(b)(1)-(3)): Provided further, That total administrative costs shall not exceed 4 percent of the total appropriation: Provided further, That up to $6,102,000 is available to carry out section 24 of the Homeowner Flood Insurance Affordability Act of 2014 (42 U.S.C. 4033). Administrative Provisions (including transfers of funds) Sec. 301. Funds made available under the heading ``Cybersecurity and Infrastructure Security Agency--Operations and Support'' may be made available for the necessary expenses of procuring or providing access to cybersecurity threat feeds for branches, agencies, independent agencies, corporations, establishments, and instrumentalities of the Federal Government of the United States, state, local, tribal, and territorial entities, fusion centers as described in section 210A of the Homeland Security Act (6 U.S.C. 124h), and Information Sharing and Analysis Organizations. Sec. 302. (a) Notwithstanding section 2008(a)(12) of the Homeland Security Act of 2002 (6 U.S.C. 609(a)(12)) or any other provision of law, not more than 5 percent of the amount of a grant made available in paragraphs (1) through (5) under ``Federal Emergency Management Agency--Federal Assistance'', may be used by the recipient for expenses directly related to administration of the grant. (b) The authority provided in subsection (a) shall also apply to a state recipient for the administration of a grant under such paragraph (3). Sec. 303. Applications for grants under the heading ``Federal Emergency Management Agency--Federal Assistance'', for paragraphs (1) through (5), shall be made available to eligible applicants not later than 60 days after the date of enactment of this Act, eligible applicants shall submit applications not later than 80 days after the grant announcement, and the Administrator of the Federal Emergency Management Agency shall act within 65 days after the receipt of an application. Sec. 304. (a) Under the heading ``Federal Emergency Management Agency--Federal Assistance'', for grants under paragraphs (1) through (5) and (9), the Administrator of the Federal Emergency Management Agency shall brief the Committees on Appropriations of the House of Representatives and the Senate 5 full business days in advance of announcing publicly the intention of making an award. (b) If any such public announcement is made before 5 full business days have elapsed following such briefing, $1,000,000 of amounts appropriated by this Act for ``Federal Emergency Management Agency-- Operations and Support'' shall be rescinded. Sec. 305. Under the heading ``Federal Emergency Management Agency--Federal Assistance'', for grants under paragraphs (1) and (2), the installation of communications towers is not considered construction of a building or other physical facility. Sec. 306. The reporting requirements in paragraphs (1) and (2) under the heading ``Federal Emergency Management Agency--Disaster Relief Fund'' in the Department of Homeland Security Appropriations Act, 2015 (Public Law 114-4), related to reporting on the Disaster Relief Fund, shall be applied in fiscal year 2025 with respect to budget year 2026 and current fiscal year 2025, respectively-- (1) in paragraph (1) by substituting ``fiscal year 2026'' for ``fiscal year 2016''; and (2) in paragraph (2) by inserting ``business'' after ``fifth''. Sec. 307. In making grants under the heading ``Federal Emergency Management Agency--Federal Assistance'', for Staffing for Adequate Fire and Emergency Response grants, the Administrator of the Federal Emergency Management Agency may grant waivers from the requirements in subsections (a)(1)(A), (a)(1)(B), (a)(1)(E), (c)(1), (c)(2), and (c)(4) of section 34 of the Federal Fire Prevention and Control Act of 1974 (15 U.S.C. 2229a). Sec. 308. (a) The aggregate charges assessed during fiscal year 2025, as authorized in title III of the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999 (42 U.S.C. 5196e), shall not be less than 100 percent of the amounts anticipated by the Department of Homeland Security to be necessary for its Radiological Emergency Preparedness Program for the next fiscal year. (b) The methodology for assessment and collection of fees shall be fair and equitable and shall reflect costs of providing such services, including administrative costs of collecting such fees. (c) Such fees shall be deposited in a Radiological Emergency Preparedness Program account as offsetting collections and will become available for authorized purposes on October 1, 2025, and remain available until expended. Sec. 309. In making grants under the heading ``Federal Emergency Management Agency--Federal Assistance'', for Assistance to Firefighter Grants, the Administrator of the Federal Emergency Management Agency may waive subsection (k) of section 33 of the Federal Fire Prevention and Control Act of 1974 (15 U.S.C. 2229). Sec. 310. Any unobligated balances of funds appropriated in any prior Act for activities funded by the National Predisaster Mitigation Fund under section 203 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5133), as in effect on the day before the date of enactment of section 1234 of division D of Public Law 115-254, may be transferred to and merged with funds set aside pursuant to subsection (i)(1) of section 203 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5133), as in effect on the date of the enactment of this section. Sec. 311. Any unobligated balances of funds appropriated under the heading ``Federal Emergency Management Agency--Flood Hazard Mapping and Risk Analysis Program'' in any prior Act may be transferred to and merged with funds appropriated under the heading ``Federal Emergency Management Agency--Federal Assistance'' for necessary expenses for Flood Hazard Mapping and Risk Analysis: Provided, That funds transferred pursuant to this section shall be in addition to and supplement any other sums appropriated for such purposes under the National Flood Insurance Fund and such additional sums as may be provided by States or other political subdivisions for cost-shared mapping activities under section 1360(f)(2) of the National Flood Insurance Act of 1968 (42 U.S.C. 4101(f)(2)), to remain available until expended. TITLE IV RESEARCH, DEVELOPMENT, TRAINING, AND SERVICES U.S. Citizenship and Immigration Services operations and support For necessary expenses of U.S. Citizenship and Immigration Services for operations and support of the E-Verify Program, $112,431,000: Provided, That such amounts shall be in addition to any other amounts made available for such purposes, and shall not be construed to require any reduction of any fee described in section 286(m) of the Immigration and Nationality Act (8 U.S.C. 1356(m)). Federal Law Enforcement Training Centers operations and support For necessary expenses of the Federal Law Enforcement Training Centers for operations and support, including the purchase of not to exceed 117 vehicles for police-type use and hire of passenger motor vehicles, and services as authorized by section 3109 of title 5, United States Code, $360,752,000, of which $66,665,000 shall remain available until September 30, 2026: Provided, That not to exceed $7,180 shall be for official reception and representation expenses. procurement, construction, and improvements For necessary expenses of the Federal Law Enforcement Training Centers for procurement, construction, and improvements, $6,000,000, to remain available until September 30, 2029, for acquisition of necessary additional real property and facilities, construction and ongoing maintenance, facility improvements and related expenses of the Federal Law Enforcement Training Centers. Science and Technology Directorate operations and support For necessary expenses of the Science and Technology Directorate for operations and support, including the purchase or lease of not to exceed 5 vehicles, $375,238,000, of which $206,442,000 shall remain available until September 30, 2026: Provided, That not to exceed $10,000 shall be for official reception and representation expenses. procurement, construction, and improvements For necessary expenses of the Science and Technology Directorate for procurement, construction, and improvements, $30,000,000, to remain available until September 30, 2029. research and development For necessary expenses of the Science and Technology Directorate for research and development, $339,353,000, to remain available until September 30, 2027. Countering Weapons of Mass Destruction Office operations and support For necessary expenses of the Countering Weapons of Mass Destruction Office for operations and support, $159,252,000, of which $50,446,000 shall remain available until September 30, 2026: Provided, That not to exceed $2,250 shall be for official reception and representation expenses. procurement, construction, and improvements For necessary expenses of the Countering Weapons of Mass Destruction Office for procurement, construction, and improvements, $33,397,000, to remain available until September 30, 2027. research and development For necessary expenses of the Countering Weapons of Mass Destruction Office for research and development, $110,938,000, to remain available until September 30, 2027. federal assistance For necessary expenses of the Countering Weapons of Mass Destruction Office for Federal assistance through grants, contracts, cooperative agreements, and other activities, $57,726,000, to remain available until September 30, 2027. Administrative Provisions Sec. 401. (a) Notwithstanding any other provision of law, funds otherwise made available to U.S. Citizenship and Immigration Services may be used to acquire, operate, equip, and dispose of up to 5 vehicles, for replacement only, for areas where the Administrator of General Services does not provide vehicles for lease. (b) The Director of U.S. Citizenship and Immigration Services may authorize employees who are assigned to those areas to use such vehicles to travel between the employees' residences and places of employment. Sec. 402. None of the funds appropriated by this Act may be used to process or approve a competition under Office of Management and Budget Circular A-76 for services provided by employees (including employees serving on a temporary or term basis) of U.S. Citizenship and Immigration Services of the Department of Homeland Security who are known as Immigration Information Officers, Immigration Service Analysts, Contact Representatives, Investigative Assistants, or Immigration Services Officers. Sec. 403. Notwithstanding any other provision of law, any Federal funds made available to U.S. Citizenship and Immigration Services may be used for the collection and use of biometrics taken at a U.S. Citizenship and Immigration Services Application Support Center that is overseen virtually by U.S. Citizenship and Immigration Services personnel using appropriate technology. Sec. 404. None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, or enforce the rule entitled ``Procedures or Credible Fear Screening and Consideration of Asylum, Withholding of Removal, and CAT Protection Claims by Asylum Officers'' (87 Fed. Reg. 18078). Sec. 405. None of the funds appropriated or otherwise made available by this Act may be made available to issue any employment authorization document or similar document to any alien whose application for asylum in the United States has been denied, or who is convicted of a Federal or State crime while his or her application for asylum in the United States is pending. Sec. 406. Notwithstanding the numerical limitation set forth in section 214(g)(1)(B) of the Immigration and Nationality Act (8 U.S.C. 1184(g)(1)(B)), the Secretary of Homeland Security, after consultation with the Secretary of Labor, and upon determining that the needs of American businesses cannot be satisfied during fiscal year 2025 with United States workers who are willing, qualified, and able to perform temporary nonagricultural labor, shall increase the total number of visas available to qualifying aliens under section 101(a)(15)(H)(ii)(b) of such Act (8 U.S.C. 1101(a)(15)(H)(ii)(b)) in such fiscal year above such limitation by the highest number of H-2B nonimmigrants who participated in the H-2B returning worker program in any fiscal year in which returning workers were exempt from such numerical limitation. Sec. 407. Notwithstanding section 286(n) of the Immigration and Nationality Act (8 U.S.C. 1356(n)), the Director of U.S. Citizenship and Immigration Services may use not more than $2,500 of the amounts deposited in the Immigration Examinations Fee Account for official reception and representation expenses in fiscal year 2025. Sec. 408. No Federal funds made available to the Department of Homeland Security may be used for the consideration of a petition for a nonimmigrant visa under section 101(a)(15)(H)(i)(b) of the Immigration and Nationality Act, if the petitioner is any entity identified under section 1260H of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283) or any subsidiary of such entity. Sec. 409. The Director of the Federal Law Enforcement Training Centers is authorized to distribute funds to Federal law enforcement agencies for expenses incurred participating in training accreditation. Sec. 410. The Federal Law Enforcement Training Accreditation Board, including representatives from the Federal law enforcement community and non-Federal accreditation experts involved in law enforcement training, shall lead the Federal law enforcement training accreditation process to continue the implementation of measuring and assessing the quality and effectiveness of Federal law enforcement training programs, facilities, and instructors. Sec. 411. (a) The Director of the Federal Law Enforcement Training Centers may accept transfers to its ``Procurement, Construction, and Improvements'' account from Government agencies requesting the construction of special use facilities, as authorized by the Economy Act (31 U.S.C. 1535(b)). (b) The Federal Law Enforcement Training Centers shall maintain administrative control and ownership upon completion of such facilities. Sec. 412. The functions of the Federal Law Enforcement Training Centers instructor staff shall be classified as inherently governmental for purposes of the Federal Activities Inventory Reform Act of 1998 (31 U.S.C. 501 note). Sec. 413. In fiscal year 2025, nonimmigrants shall be admitted to the United States under section 101(a)(15)(H)(ii)(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a)(15)(H)(ii)(a)) to perform agricultural labor or services, without regard to whether such labor is, or services are, of a temporary or seasonal nature. Sec. 414. None of the funds made available in this Act may be made available to implement, administer, or enforce the ``Asylum Program Fee'' from the Final Rule entitled ``U.S. Citizenship and Immigration Services Fee Schedule and Changes to Certain Other Immigration Benefit Request Requirements'' (88 Fed. Reg. 6194). TITLE V GENERAL PROVISIONS (including transfers and rescissions of funds) Sec. 501. No part of any appropriation contained in this Act shall remain available for obligation beyond the current fiscal year unless expressly so provided herein. Sec. 502. Subject to the requirements of section 503 of this Act, the unexpended balances of prior appropriations provided for activities in this Act may be transferred to appropriation accounts for such activities established pursuant to this Act, may be merged with funds in the applicable established accounts, and thereafter may be accounted for as one fund for the same time period as originally enacted. Sec. 503. (a) None of the funds provided by this Act, provided by previous appropriations Acts to the components in or transferred to the Department of Homeland Security that remain available for obligation or expenditure in fiscal year 2025, or provided from any accounts in the Treasury of the United States derived by the collection of fees available to the components funded by this Act, shall be available for obligation or expenditure through a reprogramming of funds that-- (1) creates or eliminates a program, project, or activity, or increases funds for any program, project, or activity for which funds have been denied or restricted by the Congress; (2) contracts out any function or activity presently performed by Federal employees or any new function or activity proposed to be performed by Federal employees in the President's budget proposal for fiscal year 2025 for the Department of Homeland Security; (3) augments funding for existing programs, projects, or activities in excess of $5,000,000 or 10 percent, whichever is less; (4) reduces funding for any program, project, or activity, or numbers of personnel, by 10 percent or more; or (5) results from any general savings from a reduction in personnel that would result in a change in funding levels for programs, projects, or activities as approved by the Congress. (b) Subsection (a) shall not apply if the Committees on Appropriations of the House of Representatives and the Senate are notified at least 30 days in advance of such reprogramming. (c) Up to 5 percent of any appropriation made available for the current fiscal year for the Department of Homeland Security by this Act or provided by previous appropriations Acts may be transferred between such appropriations if the Committees on Appropriations of the House of Representatives and the Senate are notified at least 30 days in advance of such transfer, but no such appropriation, except as otherwise specifically provided, shall be increased by more than 10 percent by such transfer. (d) Notwithstanding subsections (a), (b), and (c), no funds shall be reprogrammed within or transferred between appropriations-- (1) based upon an initial notification provided after June 15, except in extraordinary circumstances that imminently threaten the safety of human life or the protection of property; (2) to increase or decrease funding for grant programs; or (3) to create a program, project, or activity pursuant to subsection (a)(1), including any new function or requirement within any program, project, or activity, not approved by Congress in the consideration of the enactment of this Act. (e) The notification thresholds and procedures set forth in subsections (a), (b), (c), and (d) shall apply to any use of deobligated balances of funds provided in previous Department of Homeland Security Appropriations Acts that remain available for obligation in the current year. (f) Notwithstanding subsection (c), the Secretary of Homeland Security may transfer to the fund established by 8 U.S.C. 1101 note, up to $20,000,000 from appropriations available to the Department of Homeland Security: Provided, That the Secretary shall notify the Committees on Appropriations of the House of Representatives and the Senate at least 5 days in advance of such transfer. Sec. 504. (a) Section 504 of the Department of Homeland Security Appropriations Act, 2017 (division F of Public Law 115-31), related to the operations of a working capital fund, shall apply with respect to funds made available in this Act in the same manner as such section applied to funds made available in that Act. (b) Funds from such working capital fund may be obligated and expended in anticipation of reimbursements from components of the Department of Homeland Security. Sec. 505. (a) Except as otherwise specifically provided by law, not to exceed 50 percent of unobligated balances remaining available at the end of fiscal year 2025, as recorded in the financial records at the time of a reprogramming notification, but not later than June 15, 2026, from appropriations for ``Operations and Support'' for fiscal year 2025 in this Act shall remain available through September 30, 2026, in the account and for the purposes for which the appropriations were provided. (b) Prior to the obligation of such funds, a notification shall be submitted to the Committees on Appropriations of the House of Representatives and the Senate in accordance with section 503 of this Act. Sec. 506. (a) Funds made available by this Act for intelligence activities are deemed to be specifically authorized by the Congress for purposes of section 504 of the National Security Act of 1947 (50 U.S.C. 414) during fiscal year 2025 until the enactment of an Act authorizing intelligence activities for fiscal year 2025. (b) Amounts described in subsection (a) made available for ``Intelligence, Analysis, and Situational Awareness--Operations and Support'' that exceed the amounts in such authorization for such account shall be transferred to and merged with amounts made available under the heading ``Management Directorate--Operations and Support''. (c) Prior to the obligation of any funds transferred under subsection (b), the Management Directorate shall brief the Committees on Appropriations of the House of Representatives and the Senate on a plan for the use of such funds. Sec. 507. (a) The Secretary of Homeland Security, or the designee of the Secretary, shall notify the Committees on Appropriations of the House of Representatives and the Senate at least 3 full business days in advance of-- (1) making or awarding a grant allocation or grant in excess of $1,000,000; (2) making or awarding a contract, other transaction agreement, or task or delivery order on a multiple award contract, or to issue a letter of intent totaling in excess of $4,000,000; (3) awarding a task or delivery order requiring an obligation of funds in an amount greater than $10,000,000 from multi-year Department of Homeland Security funds; (4) making a sole-source grant award; or (5) announcing publicly the intention to make or award items under paragraph (1), (2), (3), or (4), including a contract covered by the Federal Acquisition Regulation. (b) If the Secretary of Homeland Security determines that compliance with this section would pose a substantial risk to human life, health, or safety, an award may be made without notification, and the Secretary shall notify the Committees on Appropriations of the House of Representatives and the Senate not later than 5 full business days after such an award is made or letter issued. (c) A notification under this section-- (1) may not involve funds that are not available for obligation; and (2) shall include the amount of the award; the fiscal year for which the funds for the award were appropriated; the type of contract; and the account from which the funds are being drawn. Sec. 508. Notwithstanding any other provision of law, no agency shall purchase, construct, or lease any additional facilities, except within or contiguous to existing locations, to be used for the purpose of conducting Federal law enforcement training without advance notification to the Committees on Appropriations of the House of Representatives and the Senate, except that the Federal Law Enforcement Training Centers is authorized to obtain the temporary use of additional facilities by lease, contract, or other agreement for training that cannot be accommodated in existing Centers' facilities. Sec. 509. None of the funds appropriated or otherwise made available by this Act may be used for expenses for any construction, repair, alteration, or acquisition project for which a prospectus otherwise required under chapter 33 of title 40, United States Code, has not been approved, except that necessary funds may be expended for each project for required expenses for the development of a proposed prospectus. Sec. 510. Sections 522 and 530 of the Department of Homeland Security Appropriations Act, 2008 (division E of Public Law 110-161; 121 Stat. 2073 and 2074) shall apply with respect to funds made available in this Act in the same manner as such sections applied to funds made available in that Act. Sec. 511. (a) None of the funds made available in this Act may be used in contravention of the applicable provisions of the Buy American Act. (b) For purposes of subsection (a), the term ``Buy American Act'' means chapter 83 of title 41, United States Code. Sec. 512. None of the funds made available in this Act may be used to amend the oath of allegiance required by section 337 of the Immigration and Nationality Act (8 U.S.C. 1448). Sec. 513. None of the funds provided or otherwise made available in this Act shall be available to carry out section 872 of the Homeland Security Act of 2002 (6 U.S.C. 452) unless explicitly authorized by the Congress. Sec. 514. None of the funds made available in this Act may be used for planning, testing, piloting, or developing a national identification card. Sec. 515. Any official that is required by this Act to report or to certify to the Committees on Appropriations of the House of Representatives and the Senate may not delegate such authority to perform that act unless specifically authorized herein. Sec. 516. None of the funds made available in this Act may be used for first-class travel by the employees of agencies funded by this Act in contravention of sections 301-10.122 through 301-10.124 of title 41, Code of Federal Regulations. Sec. 517. None of the funds made available in this Act may be used to employ workers described in section 274A(h)(3) of the Immigration and Nationality Act (8 U.S.C. 1324a(h)(3)). Sec. 518. Notwithstanding any other provision of this Act, none of the funds appropriated or otherwise made available by this Act may be used to pay award or incentive fees for contractor performance that has been judged to be below satisfactory performance or performance that does not meet the basic requirements of a contract. Sec. 519. (a) None of the funds made available in this Act may be used to maintain or establish a computer network unless such network blocks the viewing, downloading, and exchanging of pornography. (b) Nothing in subsection (a) shall limit the use of funds necessary for any Federal, State, tribal, territorial, or local law enforcement agency or any other entity carrying out criminal investigations, prosecution, or adjudication activities. Sec. 520. None of the funds made available in this Act may be used by a Federal law enforcement officer to facilitate the transfer of an operable firearm to an individual if the Federal law enforcement officer knows or suspects that the individual is an agent of a drug cartel unless law enforcement personnel of the United States continuously monitor or control the firearm at all times. Sec. 521. (a) None of the funds made available in this Act may be used to pay for the travel to or attendance of more than 50 employees of a single component of the Department of Homeland Security, who are stationed in the United States, at a single international conference unless the Secretary of Homeland Security, or a designee, determines that such attendance is in the national interest and notifies the Committees on Appropriations of the House of Representatives and the Senate within at least 10 days of that determination and the basis for that determination. (b) For purposes of this section the term ``international conference'' shall mean a conference occurring outside of the United States attended by representatives of the United States Government and of foreign governments, international organizations, or nongovernmental organizations. (c) The total cost to the Department of Homeland Security of any such conference shall not exceed $500,000. (d) Employees who attend a conference virtually without travel away from their permanent duty station within the United States shall not be counted for purposes of this section, and the prohibition contained in this section shall not apply to payments for the costs of attendance for such employees. Sec. 522. None of the funds made available in this Act may be used to reimburse any Federal department or agency for its participation in a National Special Security Event. Sec. 523. (a) None of the funds made available to the Department of Homeland Security by this or any other Act may be obligated for the implementation of any structural pay reform or the introduction of any new position classification that will affect more than 100 full-time positions or costs more than $5,000,000 in a single year before the end of the 30-day period beginning on the date on which the Secretary of Homeland Security submits to Congress a notification that includes-- (1) the number of full-time positions affected by such change; (2) funding required for such change for the current fiscal year and through the Future Years Homeland Security Program; (3) justification for such change; and (4) for a structural pay reform, an analysis of compensation alternatives to such change that were considered by the Department. (b) Subsection (a) shall not apply to such change if-- (1) it was proposed in the President's budget proposal for the fiscal year funded by this Act; and (2) funds for such change have not been explicitly denied or restricted in this Act. Sec. 524. (a) Any agency receiving funds made available in this Act shall, subject to subsections (b) and (c), post on the public website of that agency any report required to be submitted by the Committees on Appropriations of the House of Representatives and the Senate in this Act, upon the determination by the head of the agency that it shall serve the national interest. (b) Subsection (a) shall not apply to a report if-- (1) the public posting of the report compromises homeland or national security; or (2) the report contains proprietary information. (c) The head of the agency posting such report shall do so only after such report has been made available to the Committees on Appropriations of the House of Representatives and the Senate for not less than 45 days except as otherwise specified in law. Sec. 525. (a) Funding provided in this Act for ``Operations and Support'' may be used for minor procurement, construction, and improvements. (b) For purposes of subsection (a), ``minor'' refers to end items with a unit cost of $250,000 or less for personal property, and $2,000,000 or less for real property. Sec. 526. The authority provided by section 532 of the Department of Homeland Security Appropriations Act, 2018 (Public Law 115-141) regarding primary and secondary schooling of dependents shall continue in effect during fiscal year 2025. Sec. 527. (a) None of the funds appropriated or otherwise made available to the Department of Homeland Security by this Act may be used to prevent any of the following persons from entering, for the purpose of conducting oversight, any facility operated by or for the Department of Homeland Security used to detain or otherwise house aliens, or to make any temporary modification at any such facility that in any way alters what is observed by a visiting Member of Congress or such designated employee, compared to what would be observed in the absence of such modification: (1) A Member of Congress; and (2) An employee of the United States House of Representatives or the United States Senate designated by such a Member for the purposes of this section. (b) Nothing in this section may be construed to require a Member of Congress to provide prior notice of the intent to enter a facility described in subsection (a) for the purpose of conducting oversight. (c) With respect to individuals described in subsection (a)(2), the Department of Homeland Security may require that a request be made at least 24 hours in advance of an intent to enter a facility described in subsection (a). Sec. 528. (a) Except as provided in subsection (b), none of the funds made available in this Act may be used to place restraints on a woman in the custody of the Department of Homeland Security (including during transport, in a detention facility, or at an outside medical facility) who is pregnant or in post-delivery recuperation. (b) Subsection (a) shall not apply with respect to a pregnant woman if-- (1) an appropriate official of the Department of Homeland Security makes an individualized determination that the woman-- (A) is a serious flight risk, and such risk cannot be prevented by other means; or (B) poses an immediate and serious threat to harm herself or others that cannot be prevented by other means; or (2) a medical professional responsible for the care of the pregnant woman determines that the use of therapeutic restraints is appropriate for the medical safety of the woman. (c) If a pregnant woman is restrained pursuant to subsection (b), only the safest and least restrictive restraints, as determined by the appropriate medical professional treating the woman, may be used. In no case may restraints be used on a woman who is in active labor or delivery, and in no case may a pregnant woman be restrained in a face- down position with four-point restraints, on her back, or in a restraint belt that constricts the area of the pregnancy. A pregnant woman who is immobilized by restraints shall be positioned, to the maximum extent feasible, on her left side. Sec. 529. (a) None of the funds made available by this Act may be used to destroy any document, recording, or other record pertaining to any-- (1) death of; (2) potential sexual assault or abuse perpetrated against; or (3) allegation of abuse, criminal activity, or disruption committed by an individual held in the custody of the Department of Homeland Security. (b) The records referred to in subsection (a) shall be made available, in accordance with applicable laws and regulations, and Federal rules governing disclosure in litigation, to an individual who has been charged with a crime, been placed into segregation, or otherwise punished as a result of an allegation described in paragraph (3), upon the request of such individual. Sec. 530. Section 519 of division F of Public Law 114-113, regarding a prohibition on funding for any position designated as a Principal Federal Official, shall apply with respect to any Federal funds in the same manner as such section applied to funds made available in that Act. Sec. 531. (a) Not later than 10 days after the date on which the budget of the President for a fiscal year is submitted to Congress pursuant to section 1105(a) of title 31, United States Code, the Under Secretary for Management of Homeland Security shall submit to the Committees on Appropriations of the House of Representatives and the Senate a report on the unfunded priorities, for the Department of Homeland Security and separately for each departmental component, for which discretionary funding would be classified as budget function 050. (b) Each report under this section shall specify, for each such unfunded priority-- (1) a summary description, including the objectives to be achieved if such priority is funded (whether in whole or in part); (2) the description, including the objectives to be achieved if such priority is funded (whether in whole or in part); (3) account information, including the following (as applicable): (A) appropriation account; and (B) program, project, or activity name; and (4) the additional number of full-time or part-time positions to be funded as part of such priority. (c) In this section, the term ``unfunded priority'', in the case of a fiscal year, means a requirement that-- (1) is not funded in the budget referred to in subsection (a); (2) is necessary to fulfill a requirement associated with an operational or contingency plan for the Department; and (3) would have been recommended for funding through the budget referred to in subsection (a) if-- (A) additional resources had been available for the budget to fund the requirement; (B) the requirement has emerged since the budget was formulated; or (C) the requirement is necessary to sustain prior- year investments. Sec. 532. (a) Not later than 10 days after a determination is made by the President to evaluate and initiate protection under any authority for a former or retired Government official or employee, or for an individual who, during the duration of the directed protection, will become a former or retired Government official or employee (referred to in this section as a ``covered individual''), the Secretary of Homeland Security shall submit a notification to congressional leadership and the Committees on Appropriations of the House of Representatives and the Senate, the Committees on the Judiciary of the House of Representatives and the Senate, the Committee on Homeland Security of the House of Representatives, the Committee on Homeland Security and Governmental Affairs of the Senate, and the Committee on Oversight and Reform of the House of Representatives (referred to in this section as the ``appropriate congressional committees''). (b) Such notification may be submitted in classified form, if necessary, and in consultation with the Director of National Intelligence or the Director of the Federal Bureau of Investigation, as appropriate, and shall include the threat assessment, scope of the protection, and the anticipated cost and duration of such protection. (c) Not later than 15 days before extending, or 30 days before terminating, protection for a covered individual, the Secretary of Homeland Security shall submit a notification regarding the extension or termination and any change to the threat assessment to the congressional leadership and the appropriate congressional committees. (d) Not later than 45 days after the date of enactment of this Act, and quarterly thereafter, the Secretary shall submit a report to the congressional leadership and the appropriate congressional committees, which may be submitted in classified form, if necessary, detailing each covered individual, and the scope and associated cost of protection. Sec. 533. (a) None of the funds provided to the Department of Homeland Security in this or any prior Act may be used by an agency to submit an initial project proposal to the Technology Modernization Fund (as authorized by section 1078 of subtitle G of title X of the National Defense Authorization Act for Fiscal Year 2018 (Public Law 115-91)) unless, concurrent with the submission of an initial project proposal to the Technology Modernization Board, the head of the agency-- (1) notifies the Committees on Appropriations of the House of Representatives and the Senate of the proposed submission of the project proposal; (2) submits to the Committees on Appropriations a copy of the project proposal; and (3) provides a detailed analysis of how the proposed project funding would supplement or supplant funding requested as part of the Department's most recent budget submission. (b) None of the funds provided to the Department of Homeland Security by the Technology Modernization Fund shall be available for obligation until 15 days after a report on such funds has been transmitted to the Committees on Appropriations of the House of Representatives and the Senate. (c) The report described in subsection (b) shall include-- (1) the full project proposal submitted to and approved by the Fund's Technology Modernization Board; (2) the finalized interagency agreement between the Department and the Fund including the project's deliverables and repayment terms, as applicable; (3) a detailed analysis of how the project will supplement or supplant existing funding available to the Department for similar activities; (4) a plan for how the Department will repay the Fund, including specific planned funding sources, as applicable; and (5) other information as determined by the Secretary. Sec. 534. Within 60 days of any budget submission for the Department of Homeland Security for fiscal year 2026 that assumes revenues or proposes a reduction from the previous year based on user fees proposals that have not been enacted into law prior to the submission of the budget, the Secretary of Homeland Security shall provide the Committees on Appropriations of the House of Representatives and the Senate specific reductions in proposed discretionary budget authority commensurate with the revenues assumed in such proposals in the event that they are not enacted prior to October 1, 2025. Sec. 535. None of the funds made available by this Act may be obligated or expended to implement the Arms Trade Treaty until the Senate approves a resolution of ratification for the Treaty. Sec. 536. No Federal funds made available to the Department of Homeland Security may be used to enter into a procurement contract, memorandum of understanding, or cooperative agreement with, or make a grant to, or provide a loan or guarantee to, any entity identified under section 1260H of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283) or any subsidiary of such entity. Sec. 537. None of the funds appropriated or otherwise made available in this or any other Act may be used to transfer, release, or assist in the transfer or release to or within the United States, its territories, or possessions Khalid Sheikh Mohammed or any other detainee who-- (1) is not a United States citizen or a member of the Armed Forces of the United States; and (2) is or was held on or after June 24, 2009, at the United States Naval Station, Guantanamo Bay, Cuba, by the Department of Defense. Sec. 538. (a) The Secretary of Homeland Security (in this section referred to as the ``Secretary'') shall, on a bimonthly basis beginning immediately after the date of enactment of this Act, develop estimates of the number of aliens anticipated to arrive at the southwest border of the United States. (b) The Secretary shall ensure that, at a minimum, the estimates developed pursuant to subsection (a)-- (1) cover the current fiscal year and the following fiscal year; (2) include a breakout by demographics, to include single adults, family units, and unaccompanied children; (3) undergo an independent validation and verification review; (4) are used to inform policy planning and budgeting processes within the Department of Homeland Security; and (5) are included in the budget materials submitted to Congress for each fiscal year beginning after the date of enactment of this Act and in support of-- (A) the President's annual budget request pursuant to section 1105 of title 31, United States Code; (B) any supplemental funding request submitted to Congress; (C) any reprogramming and transfer notification pursuant to section 503 of this Act; and (D) such budget materials shall include-- (i) the most recent bimonthly estimates developed pursuant to subsection (a); (ii) a description and quantification of the estimates used to justify funding requests for Department programs related to border security, immigration enforcement, and immigration services; (iii) a description and quantification of the anticipated workload and requirements resulting from such estimates; and (iv) a confirmation as to whether the budget requests for impacted agencies were developed using the same estimates. (c) The Secretary shall share the bimonthly estimates developed pursuant to subsection (a) with the Secretary of Health and Human Services, the Attorney General, the Secretary of State, and the Committees on Appropriations of the House of Representatives and the Senate. (d) If the bimonthly estimates described in subsection (b) are not provided for the purposes described, the reprogramming and transfer authority provided in section 503 of this Act shall be suspended until such time as the required estimates are provided to the Committees on Appropriations of the House of Representatives and the Senate. Sec. 539. (a) Prior to the Secretary of Homeland Security requesting assistance from the Department of Defense for border security operations, the Secretary shall ensure that an alternatives analysis and cost-benefit analysis is conducted before such request is made, which shall include an examination of obtaining such support through other means. (b) Not later than 30 days after the date on which a request for assistance is made, the Secretary of Homeland Security shall submit to the Committees on Appropriations of the House of Representatives and the Senate a report detailing the types of support requested, the alternatives analysis and cost-benefit analysis described in subsection (a), and the operational impact to Department of Homeland Security operations of any Department of Defense border security support requested by the Secretary. (c) Not later than 30 days after the date on which a request made for assistance is granted and quarterly thereafter through the duration of such assistance, the Secretary of Homeland Security shall submit to the Committees on Appropriations of the House of Representatives and the Senate, a report detailing the assistance provided and the operational impacts to border security operations. Sec. 540. Funds made available in this Act or any other Act for Operations and Support may be used for the necessary expenses of providing an employee emergency back-up care program. Sec. 541. (a) Not less than $5,000,000 made available in this Act shall be transferred to ``U.S. Immigration and Customs Enforcement-- Operations and Support'' to support and conduct necessary operations of the Blue Campaign for fiscal year 2025. (b) Prior to the obligation of funds made available by subsection (a), notification shall be submitted to the Committees on Appropriations of the House of Representatives and the Senate. Sec. 542. (a) None of the funds appropriated or otherwise made available by this Act or any other Act shall be used to execute an inspection of a detention facility that is in a contractual agreement with U.S. Immigration and Customs Enforcement for the provision of detention services and that is subject to the terms, conditions, and standards found within the National Detention Standards for Non- Dedicated Facilities, as revised in 2019 for U.S. Immigration and Customs Enforcement, except solely for compliance with the terms, conditions, and standards found within the National Detention Standards for Non-Dedicated Facilities, as revised in 2019. (b) Executions of inspections described in subsection (a) shall not occur within six months of a previous inspection of such facility, except with respect to inspections executed by the Office of Inspector General. Sec. 543. None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, or enforce the rule entitled ``Circumvention of Lawful Pathways'' (88 Fed. Reg. 11704). Sec. 544. None of the funds appropriated or otherwise made available by this Act may be made available to establish or support the activities of a Disinformation Governance Board at the Department of Homeland Security, or any other similar entity carrying out activities relating to disinformation in a similar manner or to a similar extent to such a Board. Sec. 545. None of the funds appropriated or otherwise made available by this Act may be made available to: (a) classify or facilitate the classification of any communications by a United States person as mis-, dis-, or mal- information; or (b) partner with or fund nonprofit or other organizations that pressure or recommend private companies to censor lawful and constitutionally protected speech of United States persons, including recommending the censoring or removal of content on social media platforms. (c) Any officer or employee of the Federal Government whose salary is funded by this Act and who conducts any activity described in (a) or (b) shall be removed from the Federal service. Sec. 546. None of the funds appropriated or otherwise made available by this Act may be made available to implement, administer, apply, enforce, or carry out the Equity Action Plan of the Department of Homeland Security, or Executive Order No. 13985 of January 20, 2021 (86 Fed. Reg. 7009, relating to advancing racial equity and support for underserved communities through the federal government), Executive Order No. 14035 of June 25, 2021 (86 Fed. Reg. 34593, relating to diversity, equity, inclusion, and accessibility in the federal workforce), Executive Order No. 14091 of February 16, 2023 (88 Fed. Reg. 10825 relating to further advancing racial equity and support for underserved communities through the federal government) or any program, project, or activity that promotes or advances Critical Race Theory or any concept associated with Critical Race Theory. Sec. 547. (a) In general.--Notwithstanding section 7 of title 1, United States Code, section 1738C of title 28, United States Code, or any other provision of law, none of the funds provided by this Act, or previous appropriations Acts, shall be used in whole or in part to take any discriminatory action against a person, wholly or partially, on the basis that such person speaks, or acts, in accordance with a sincerely held religious belief, or moral conviction, that marriage is, or should be recognized as, a union of one man and one woman. (b) Discriminatory action defined.--As used in subsection (a), a discriminatory action means any action taken by the Federal Government to-- (1) alter in any way the Federal tax treatment of, or cause any tax, penalty, or payment to be assessed against, or deny, delay, or revoke an exemption from taxation under section 501(a) of the Internal Revenue Code of 1986 of, any person referred to in subsection (a); (2) disallow a deduction for Federal tax purposes of any charitable contribution made to or by such person; (3) withhold, reduce the amount or funding for, exclude, terminate, or otherwise make unavailable or deny, any Federal grant, contract, subcontract, cooperative agreement, guarantee, loan, scholarship, license, certification, accreditation, employment, or other similar position or status from or to such person; (4) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny, any entitlement or benefit under a Federal benefit program, including admission to, equal treatment in, or eligibility for a degree from an educational program, from or to such person; or (5) withhold, reduce, exclude, terminate, or otherwise make unavailable or deny access or an entitlement to Federal property, facilities, educational institutions, speech fora (including traditional, limited, and nonpublic fora), or charitable fundraising campaigns from or to such person. (c) Accreditation; Licensure; Certification.--The Federal Government shall consider accredited, licensed, or certified for purposes of Federal law any person that would be accredited, licensed, or certified, respectively, for such purposes but for a determination against such person wholly or partially on the basis that the person speaks, or acts, in accordance with a sincerely held religious belief or moral conviction described in subsection (a). Sec. 548. (a) None of the funds appropriated or otherwise made available in this or any other Act may be used to license, facilitate, coordinate, or otherwise allow officials of a country designated as a state sponsor of terrorism within the past three fiscal years, to, in their capacity as an official, observe, tour, visit, or confer with the employees of the Department of Homeland Security. (b) The term ``state sponsor of terrorism'' means a country the government of which the Secretary of State determines has repeatedly provided support for international terrorism pursuant to section 1754(c)(1)(A) of the Export Control Reform Act of 2018 (50 U.S.C. 4813(c)(1)(A)); section 620A of the Foreign Assistance Act of 1961 (22 U.S.C. 2371); section 40 of the Arms Export Control Act (22 U.S.C. 2780); or any other provision of law. Sec. 549. None of the funds made available by this Act may be used to obligate or award funds to a political subdivision of a State that-- (a) has in effect any law, policy, or procedure, whether written or communicated orally, in contravention of, or which substantially limits compliance with, subsection (a) or (b) of section 642 of the Illegal Immigration Reform and Immigration Responsibility Act of 1996 (8 U.S.C. 1373); or (b) has in effect any law, policy, or procedure, whether written or communicated orally, the result of which hinders the federal government from enforcing the immigration laws as defined by 8 U.S.C. 101(a)(17). (rescissions of funds) Sec. 550. Of the funds appropriated to the Department of Homeland Security, the following funds are hereby rescinded from the following accounts and programs in the specified amounts: Provided, That no amounts may be rescinded from amounts that were designated by the Congress as an emergency requirement pursuant to a concurrent resolution on the budget or the Balanced Budget and Emergency Deficit Control Act of 1985: (1) $600,000,000 from the unobligated balances available under the heading ``U.S. Customs and Border Protection-- Procurement, Construction, and Improvements'' of the amounts provided by Public Law 116-260 for the construction of barrier system along the southwest border. Sec. 551. Of the unobligated balances in the ``Department of Homeland Security Nonrecurring Expenses Fund'' established in section 538 of division F of Public Law 117-103, $154,000,000 are hereby rescinded. SPENDING REDUCTION ACCOUNT Sec. 552. $0. This Act may be cited as the ``Department of Homeland Security Appropriations Act, 2025''. Union Calendar No. 456 118th CONGRESS 2d Session H. R. 8752 [Report No. 118-553] _______________________________________________________________________ A BILL Making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2025, and for other purposes. _______________________________________________________________________ June 14, 2024 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

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2024-06-24T00:12:28.348643

BILLS-118sres736is

Recognizing the importance of trademarks in the economy and the role of trademarks in protecting consumer safety, by designating the month of July as National Anti-Counterfeiting and Consumer Education and Awareness Month.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 736 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. RES. 736 Recognizing the importance of trademarks in the economy and the role of trademarks in protecting consumer safety, by designating the month of July as ``National Anti-Counterfeiting and Consumer Education and Awareness Month''. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 13, 2024 Mr. Coons (for himself, Mr. Grassley, Ms. Hirono, and Mr. Tillis) submitted the following resolution; which was referred to the Committee on the Judiciary _______________________________________________________________________ RESOLUTION Recognizing the importance of trademarks in the economy and the role of trademarks in protecting consumer safety, by designating the month of July as ``National Anti-Counterfeiting and Consumer Education and Awareness Month''. Whereas public awareness is crucial to safeguard consumers and businesses from unsafe and unreliable products that, through illicit activity, threaten intellectual property rights, the economic market, and even the health and well-being of consumers; Whereas Federal statutes such as the Act of July 5, 1946 (commonly referred to as the ``Trademark Act of 1946'' or the ``Lanham Act'') (60 Stat. 427, chapter 540; 15 U.S.C. 1051 et seq.) (referred to in this preamble as the ``Lanham Act'') and the Trademark Counterfeiting Act of 1984 (Public Law 98-473; 98 Stat. 2178) regulate the unlawful act of producing and selling counterfeit products; Whereas the Lanham Act provided the foundation for modern Federal trademark protection, creating legal rights and remedies for brand owners suffering from trademark infringement, helping consumers make informed choices by reducing the amount of confusingly similar products, and making the marketplace more fair, competitive, and safe for all; Whereas October 12, 2024, marks the 40th anniversary of the enactment of the Trademark Counterfeiting Act of 1984 (Public Law 98-473; 98 Stat. 2178); Whereas, according to the World Intellectual Property Organization, there was an estimated 82,500,000 active trademark registrations around the world in 2022, a 9.4 percent increase from the previous year; Whereas counterfeit products undermine laws, including the Lanham Act, that ensure the safety of consumers, businesses, and brand owners against illegitimate products in the marketplace, from which criminal groups and bad actors are benefitting at the expense of the public and private sector; Whereas counterfeiters use different online platforms to attract consumers to buy illegitimate goods, usually enticing consumers through cheaper prices; Whereas the growth of both global commerce and electronic commerce has expedited the evolving problem because it has given third-party actors an enhanced opportunity to reach consumers that they may have not previously been able to reach; Whereas the deceptive tactics of counterfeiters and their counterfeit products pose actual and potential harm to the health and safety of United States citizens, especially the most vulnerable consumers in society, such as senior citizens and children; Whereas, according to the 2024 Special 301 Report issued by the Office the United States Trade Representative, counterfeit items often do not comply with regulated safety standards, and as a result, vast amounts of unsafe products are constantly circulating the market and endangering the public; Whereas goods originating in China and Hong Kong account for more than 80 percent of all global customs seizures of dangerous counterfeit goods, including foodstuffs, pharmaceuticals, cosmetics, and other goods; Whereas counterfeit medical products pose a particular threat to the safety and health of consumers in the United States because the counterfeit product does not provide the same level of protection as an authentic article; Whereas, in September 2021, the Drug Enforcement Administration issued its first Public Safety Alert in 6 years to warn the public about the alarming increase in the availability and lethality of fake prescription pills in the United States, pills that often contain deadly doses of fentanyl, and in 2023, the Drug Enforcement Administration seized a staggering 80,000,000 fentanyl-laced prescription pills; Whereas counterfeit products threaten the United States economy and job creation, and according to United States Customs and Border Protection, counterfeiting and piracy cost businesses in the United States more than $275,000,000,000 per year and have led to the loss of more than 750,000 jobs; Whereas, in 2023, United States Customs and Border Protection seized more than 23,000,000 counterfeit goods, with an estimated manufacturer's suggested retail price of over $2,750,000,000 if the goods were genuine, which equates to about $7,534,246 in counterfeit goods seizures every day; Whereas the manufacturing, trade, and consumption of counterfeit products are on the rise; Whereas, according to the United States Patent and Trademark Office, as of 2020, at least 20 percent of counterfeit and pirated goods sold abroad displace sales in the United States, and of the $143,000,000,000 sold of such goods, the United States economy suffers a loss of around $29,000,000,000 per year; Whereas businesses of all sizes collectively spend millions of dollars to protect and enforce their own brand and products by removing counterfeit products from both online and physical marketplaces; Whereas businesses must devote resources to combating counterfeit products instead of using those resources to grow their business by hiring new employees and developing new products; Whereas one of the most effective ways to protect consumers from the dangers of counterfeit products is through educational campaigns and awareness programs; and Whereas organizations such as the Congressional Trademark Caucus, Federal enforcement agencies, the National Intellectual Property Rights Coordination Center, and State enforcement agencies are actively working to raise awareness of the value of trademarks and the impact and harms caused by counterfeit products on both the national and State economies: Now, therefore, be it Resolved, That the Senate-- (1) designates the month of July 2024 as ``National Anti- Counterfeiting and Consumer Education and Awareness Month''; (2) supports the goals and ideals of National Anti- Counterfeiting and Consumer Education and Awareness Month to educate the public and raise public awareness about the actual and potential dangers counterfeit products pose to consumer health and safety; (3) affirms the continuing importance and need for comprehensive Federal, State, and private sector-supported education and awareness efforts designed to equip the consumers of the United States with the information and tools needed to safeguard against illegal counterfeit products in traditional commerce, internet commerce, and other electronic commerce platforms; and (4) recognizes and reaffirms the commitment of the United States to combating counterfeiting by promoting awareness about the actual and potential harm of counterfeiting to consumers and brand owners and by promoting new education programs and campaigns designed to reduce the supply of, and demand for, counterfeit products. <all>

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2024-06-24T00:12:28.448759

BILLS-118sres735ats

Designating July 17, 2024, as Glioblastoma Awareness Day.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 735 Agreed to Senate (ATS)] <DOC> 118th CONGRESS 2d Session S. RES. 735 Designating July 17, 2024, as ``Glioblastoma Awareness Day''. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 13, 2024 Mr. Graham (for himself, Ms. Sinema, Mr. Scott of South Carolina, Mr. Kelly, Mr. Van Hollen, Mr. Warnock, Mr. Rubio, Mr. Markey, Ms. Warren, Mr. Coons, and Mr. Barrasso) submitted the following resolution; which was considered and agreed to _______________________________________________________________________ RESOLUTION Designating July 17, 2024, as ``Glioblastoma Awareness Day''. Whereas approximately 14,490 new cases of glioblastoma were diagnosed in the United States in 2023; Whereas glioblastoma is-- (1) the most common malignant (cancerous) brain tumor, accounting for approximately \1/2\ of all primary malignant brain tumors; and (2) the most aggressive, complex, difficult to treat, and deadly type of brain tumor; Whereas it is estimated that more than 10,000 individuals in the United States will succumb to glioblastoma each year; Whereas the 5-year survival rate for glioblastoma patients is only 6.9 percent, and the median length of survival for glioblastoma patients is only 8 months; Whereas glioblastoma is described as a disease that affects the ``essence of self'', as the treatment and removal of glioblastoma presents significant challenges due to the uniquely complex and fragile nature of the brain, the primary organ in the human body that controls not only cognitive ability, but also the actions of every organ and limb; Whereas patients and caregivers play a critical role in furthering research for glioblastoma; Whereas, relative to the patients of other types of cancers, brain cancer patients pay the second highest out-of-pocket costs for medical services in both the initial and end-of-life phases of care; Whereas, although research advances may fuel the development of new treatments for glioblastoma, challenging obstacles to accelerating progress toward new treatments for glioblastoma remain, and there are no screening or early detection methods; Whereas, in 2021, the World Health Organization reclassified brain tumors and made significant changes to the molecular characteristics of a glioblastoma diagnosis, necessitating critical biomarker testing for patients suspected of having glioblastoma; Whereas, although glioblastoma was first described in medical and scientific literature in the 1920s, and despite its devastating prognosis, only 5 drugs and 1 medical device have been approved by the Food and Drug Administration to specifically treat glioblastoma since the 1920s, and the mortality rates associated with glioblastoma have changed little during the past 30 years; Whereas, since the first Glioblastoma Awareness Day, the National Cancer Institute established the Glioblastoma Therapeutics Network in 2020, a network of multi-institutional teams that enhance and support the discovery and development of glioblastoma therapies by driving therapeutic agents through pre-clinical studies and early-phase clinical trials, which are necessary to rapidly evaluate potential treatments to advance toward cures and improved quality of life; and Whereas there is a need for greater public awareness of glioblastoma, including awareness of both-- (1) the urgent unmet medical needs of glioblastoma patients; and (2) the opportunities for research of, and treatment advances for, glioblastoma: Now, therefore, be it Resolved, That the Senate-- (1) designates July 17, 2024, as ``Glioblastoma Awareness Day''; (2) encourages increased public awareness of glioblastoma; (3) honors the individuals who have died from the devastating disease of glioblastoma or are currently living with the disease; (4) supports efforts to develop better treatments for glioblastoma that will improve the long-term prognosis for, and the quality of life of, individuals diagnosed with the disease; (5) recognizes the importance of molecular biomarker testing to the diagnosis and treatment of glioblastoma; (6) expresses support for the individuals who are battling brain tumors, as well as the families, friends, and caregivers of those individuals; (7) urges a collaborative approach to brain tumor research among governmental, private, and nonprofit organizations, which is a promising means of advancing the understanding and treatment of glioblastoma; and (8) encourages continued investments in glioblastoma research and treatments, including through the Glioblastoma Therapeutics Network and other existing brain tumor research resources. <all>

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2024-06-24T00:12:28.472912

BILLS-118sres730is

Designating June 23, 2024, as Social Media Harms Victim Remembrance Day.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 730 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. RES.730 Designating June 23, 2024, as ``Social Media Harms Victim Remembrance Day''. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Ms. Klobuchar (for herself and Mrs. Blackburn) submitted the following resolution; which was referred to the Committee on the Judiciary _______________________________________________________________________ RESOLUTION Designating June 23, 2024, as ``Social Media Harms Victim Remembrance Day''. Whereas the internet has revolutionized the ability to exchange information, improved the accessibility of education, reduced the costs of healthcare through telehealth, and stimulated the national economy by providing millions of jobs and trillions of dollars in gross product each year; Whereas social media has become central to modern communication, bringing together people from across the globe; Whereas teenagers spend at least 8 hours on screens per day, on average; Whereas 93 percent of teenagers use social media; Whereas 51 percent of teenagers spend nearly 5 hours on social media each day; Whereas social media presents significant risks, especially to adolescents, including the perpetuation and promotion of harmful and dangerous behaviors and connections; Whereas countless individuals and families have suffered harms, including death, because of experiences on social media platforms, including cyberbullying, harassment, exposure to sex trafficking, and exploitation; Whereas social media has been linked to an increase in illicit drug poisoning and overdose related deaths; Whereas social media use has been linked to self-harming behavior and suicidal ideation in youth; Whereas suicide has become one of the leading causes of death in children aged 15 to 19; Whereas it is vital to recognize and honor the experiences of those who have been harmed by social media, including the victims, survivors, and their families; Whereas commemorating Social Media Harms Victim Remembrance Day provides an opportunity to raise awareness about the detrimental effects of social media and to advocate for measures to effectively mitigate these harms; and Whereas establishing a designated day of remembrance fosters empathy, solidarity, and support for those who have endured social media-related trauma and encourages efforts to promote digital well-being and online safety: Now, therefore, be it Resolved, That the Senate-- (1) designates June 23, 2024, as ``Social Media Harms Victim Remembrance Day'' to honor the individuals who have lost their lives and have suffered harm because of social media; (2) reaffirms its commitment to protecting individuals from harm in digital spaces and promoting a culture of respect, empathy, and responsibility online by acknowledging the significance of Social Media Harms Victim Remembrance Day; (3) urges individuals, communities, organizations, and social media platforms to observe Social Media Harms Victim Remembrance Day through activities such as remembrance ceremonies, educational events, and advocacy efforts aimed at raising awareness about social media harms and supporting victims and survivors; (4) calls upon relevant government agencies, nonprofit organizations, and stakeholders to collaborate in developing and implementing initiatives to address social media harms effectively, including enhancing digital literacy, promoting online safety measures, and supporting victims' rights; and (5) respectfully requests that the Secretary of the Senate transmit enrolled copies of this resolution to the President of the United States, the Secretary of Health and Human Services, the Chair of the Federal Trade Commission, and the Assistant Secretary of Commerce for Communications and Information to promote awareness of Social Media Harms Victim Remembrance Day and encourage actions to prevent social media-related harm. <all>

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2024-06-24T00:12:28.537901

BILLS-118sres733is

Honoring the life and legacy of Patrick Gottsch.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 733 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. RES. 733 Honoring the life and legacy of Patrick Gottsch. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 13, 2024 Mrs. Hyde-Smith (for herself, Mrs. Fischer, Mr. Ricketts, Mr. Daines, Ms. Lummis, and Mr. Barrasso) submitted the following resolution; which was referred to the Committee on the Judiciary _______________________________________________________________________ RESOLUTION Honoring the life and legacy of Patrick Gottsch. Whereas Patrick Gene Gottsch was born on June 3, 1953, in Elkhorn, Nebraska; Whereas Mr. Gottsch was raised on his family's farm and cattle operation, which instilled in him the values of rural America; Whereas Mr. Gottsch obtained a wide array of career experiences that enabled him to be a trailblazer in the rural and agricultural programming space; Whereas Mr. Gottsch worked as a commodity broker on the Chicago Mercantile Exchange, in the home satellite dish industry, and as Director of Sales for the Superior Livestock Auction in the Fort Worth Stockyards; Whereas Mr. Gottsch launched Rural Free Delivery Television (RFD-TV) in 2002; Whereas Mr. Gottsch was the founder and president of Rural Media Group, Inc., which, in addition to RFD-TV, grew to consist of RFD-TV The Magazine, RFD HD, RURAL TV, RURAL RADIO, and The Cowboy Channel; Whereas millions of individuals in the United States have benefitted from Mr. Gottsch's innovative approach to educating the populace on rural and agricultural issues through the use of television and other mediums; and Whereas Mr. Gottsch's work to represent farmers, ranchers, and rural America through television was unprecedented and has left an indelible mark on the hearts of millions of individuals in the United States: Now, therefore, be it Resolved, That the Senate-- (1) honors the life and legacy of Patrick Gottsch, particularly the devotion of Mr. Gottsch-- (A) to rural America; (B) to espousing the values of rural America through agricultural and rural programming; and (C) to advocating for a greater understanding of the importance of rural America to the economy, culture, and progress of the nation; (2) extends its gratitude to Mr. Gottsch for a life well- lived, and will continue to remember his legacy; and (3) respectfully requests that the Secretary of the Senate transmit an enrolled copy of this resolution to the family of Mr. Gottsch. <all>

usgpo

2024-06-24T00:12:28.865562

BILLS-118sres731ats

Honoring the memory of the victims of the heinous attack at the Pulse nightclub on June 12, 2016.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 731 Agreed to Senate (ATS)] <DOC> 118th CONGRESS 2d Session S. RES. 731 Honoring the memory of the victims of the heinous attack at the Pulse nightclub on June 12, 2016. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Mr. Scott of Florida (for himself and Mr. Rubio) submitted the following resolution; which was considered and agreed to _______________________________________________________________________ RESOLUTION Honoring the memory of the victims of the heinous attack at the Pulse nightclub on June 12, 2016. Whereas, on June 12, 2016, a gunman inspired by the Islamic State of Iraq and Syria targeted the Pulse nightclub in Orlando, Florida, where he killed 49 innocent victims and wounded dozens more in a despicable attack; Whereas the attack at the Pulse nightclub was an attack on the LGBTQ community, the Hispanic community, the City of Orlando, the State of Florida, and the United States; Whereas the Orlando community continues to mourn the tragic loss of life but has demonstrated remarkable strength, unity, and resilience in the aftermath of the horrendous event; Whereas June 12 is designated as ``Pulse Remembrance Day'' in the State of Florida to honor the victims and survivors of the senseless attack; Whereas the people of the United States continue to pray for those affected by the tragedy; and Whereas June 12, 2024, marks 8 years since the lives of the 49 innocent victims were tragically cut short by this senseless act of terrorism: Now, therefore, be it Resolved, That the Senate-- (1) commemorates the 49 innocent victims killed in the attack at the Pulse nightclub in Orlando, Florida, on June 12, 2016, and offers heartfelt condolences to the families, loved ones, and friends of the victims; (2) honors the dozens of survivors of the attack and pledges continued resolve to stand against terrorism and hate; and (3) expresses gratitude to the brave law enforcement and emergency medical personnel who responded to the attack. <all>

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2024-06-24T00:12:28.957118

BILLS-118sres732ats

Celebrating the 247th anniversary of the creation of the flag of the United States and expressing support for the Pledge of Allegiance.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 732 Agreed to Senate (ATS)] <DOC> 118th CONGRESS 2nd Session S. RES. 732 Celebrating the 247th anniversary of the creation of the flag of the United States and expressing support for the Pledge of Allegiance. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 13, 2024 Mr. Braun (for himself, Mr. Budd, Mr. Scott of Florida, Mr. Schmitt, and Mr. Young) submitted the following resolution; which was considered and agreed to _______________________________________________________________________ RESOLUTION Celebrating the 247th anniversary of the creation of the flag of the United States and expressing support for the Pledge of Allegiance. Whereas, on June 14, 1777, the Continental Congress approved the design of the flag of the United States; Whereas, over the years, the flag of the United States has preserved the standards of the original design comprised of alternating red and white stripes accompanied by a union consisting of white stars on a field of blue; Whereas, on May 30, 1916, President Woodrow Wilson issued Presidential Proclamation 1335, an announcement asking the people of the United States to observe June 14 as Flag Day; Whereas, on August 3, 1949, President Harry Truman signed into law House Joint Resolution 170, 81st Congress, a joint resolution designating June 14 of each year as Flag Day; Whereas, on August 21, 1959, President Dwight Eisenhower issued Executive Order 10834 (24 Fed. Reg. 6865), an order establishing the most recent design of the flag of the United States; Whereas the Pledge of Allegiance was written by Francis Bellamy, a Baptist minister, and first published in the September 8, 1892, issue of The Youth's Companion; Whereas, in 1954, Congress added the words ``under God'' to the Pledge of Allegiance; Whereas, for more than 60 years, the Pledge of Allegiance has included references to the United States flag, to the United States having been established as a union ``under God'', and to the United States being dedicated to securing ``liberty and justice for all''; Whereas, in 1954, Congress believed it was acting constitutionally when it revised the Pledge of Allegiance; Whereas the United States was founded on principles of religious freedom by the Founders, many of whom were deeply religious; Whereas the First Amendment to the Constitution of the United States embodies principles intended to guarantee freedom of religion through protecting the free exercise thereof and by prohibiting the Government from establishing a religion; Whereas patriotic songs, engravings on United States legal tender, and engravings on Federal buildings also contain general references to ``God''; Whereas, in Elk Grove Unified School District v. Newdow, 542 U.S. 1 (2004), the Supreme Court of the United States overturned the decision of the United States Court of Appeals for the Ninth Circuit in Newdow v. U.S. Congress, 328 F.3d 466 (9th Cir. 2003), a case in which the Ninth Circuit concluded that recitation of the Pledge of Allegiance by a public school teacher violated the Establishment Clause of the First Amendment to the Constitution of the United States; Whereas the United States Court of Appeals for the Ninth Circuit subsequently concluded that-- (1) the previous opinion of that court in Newdow v. U.S. Congress, 328 F.3d 466 (9th Cir. 2003) was no longer binding precedent; (2) case law from the Supreme Court of the United States concerning the Establishment Clause of the First Amendment to the Constitution of the United States had subsequently changed after the decision in Elk Grove Unified School District v. Newdow, 542 U.S. 1 (2004); and (3) Congress, in passing the new version of the Pledge of Allegiance, had established a secular purpose for the use of the term ``under God''; and Whereas, in light of those conclusions, the United States Court of Appeals for the Ninth Circuit upheld the recitation of the Pledge of Allegiance by public school teachers: Now, therefore, be it Resolved, That the Senate-- (1) celebrates the 247th anniversary of the creation of the flag of the United States; (2) recognizes that the Pledge of Allegiance has been a valuable part of life for the people of the United States for generations; and (3) affirms that the Pledge of Allegiance is a constitutional expression of patriotism and strongly defends the constitutionality of the Pledge of Allegiance. <all>

usgpo

2024-06-24T00:12:28.981360

BILLS-118sres729is

Recognizing the contributions of African Americans to the musical heritage of the United States and the need for greater access to music education for African-American students and designating June 2024 as African-American Music Appreciation Month.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. Res. 729 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. RES. 729 Recognizing the contributions of African Americans to the musical heritage of the United States and the need for greater access to music education for African-American students and designating June 2024 as ``African-American Music Appreciation Month''. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Mr. Booker (for himself, Ms. Butler, Mr. Van Hollen, Mr. Durbin, Ms. Klobuchar, and Mr. Brown) submitted the following resolution; which was referred to the Committee on the Judiciary _______________________________________________________________________ RESOLUTION Recognizing the contributions of African Americans to the musical heritage of the United States and the need for greater access to music education for African-American students and designating June 2024 as ``African-American Music Appreciation Month''. Whereas spirituals, ragtime, blues, jazz, gospel, classical composition, and countless other categories of music have been created or enhanced by African Americans and are etched into the history and culture of the United States; Whereas the first Africans transported to the United States came from a variety of ethnic groups with a long history of distinct and cultivated musical traditions, brought musical instruments with them, and built new musical instruments in the United States; Whereas spirituals were a distinct response to the conditions of African slavery in the United States and expressed the longing of slaves for spiritual and bodily freedom, for safety from harm and evil, and for relief from the hardships of slavery; Whereas jazz, arguably the most creative and complex music that the United States has produced, combines the musical traditions of African Americans in New Orleans with the creative flexibility of blues music; Whereas masterful trumpeters Louis Armstrong and Miles Davis achieved national and international recognition with the success of ``West End Blues'' by Louis Armstrong in the 1920s and ``So What'' by Miles Davis in the late 1950s; Whereas Thomas Dorsey, the father of gospel music, used his composing talents to merge sacred and secular styles that created a revolution in music; Whereas talented jazz pianist and vocalist Nathaniel Adams Coles recorded more than 150 singles and sold more than 50,000,000 records; Whereas the talent of Ella Fitzgerald, a winner of 13 Grammy Awards, is epitomized by a rendition of ``Summertime'', a bluesy record accompanied by melodic vocals; Whereas Natalie Cole, the daughter of Nathaniel Adams Coles, achieved musical success in the mid-1970s as a rhythm and blues artist with the hits ``This Will Be'' and ``Unforgettable''; Whereas, in the 1940s, bebop evolved through jam sessions, which included trumpeter Dizzy Gillespie and the alto saxophonist Charlie Parker, that were held at clubs in Harlem, New York, such as Minton's Playhouse; Whereas earlier classical singers such as Elizabeth Taylor Greenfield, one of the first widely known African-American vocalists, and other early African-American singing pioneers, including Nellie Mitchell Brown, Marie Selika Williams, Rachel Walker Turner, Marian Anderson, and Flora Batson Bergen, paved the way for the female African-American concert singers who have achieved great popularity during the last 50 years; Whereas the term ``rhythm and blues'' originated in the late 1940s as a way to describe recordings marketed to African Americans and replaced the term ``race music''; Whereas lyrical themes in rhythm and blues often encapsulate the African- American experience of pain, the quest for freedom, joy, triumphs and failures, relationships, economics, and aspiration and were popularized by artists such as Ray Charles, Ruth Brown, Etta James, and Otis Redding; Whereas soul music originated in the African-American community in the late 1950s and early 1960s, combines elements of African-American gospel music, rhythm and blues, and jazz, and was popularized by artists such as Aretha Franklin, James Brown, Ray Charles, Sam Cooke, Bill Withers, and Jackie Wilson; Whereas Motown, founded as a record label in 1959, evolved into a distinctive style known for the ``Motown Sound'', a blend of pop and soul musical stylings made popular by prominent Black artists such as Marvin Gaye, James Mason, and Mary Wells; Whereas Go-Go, developed by African-American musicians in the mid-1960s, combines funk, soul, and Latin music, was popularized by artists such as Chuck Brown and Rare Essence, and is the ``official music of Washington, DC''; Whereas Harry Belafonte, a singer, actor, and activist, and a supporter and confidant of Martin Luther King, Jr., throughout the civil rights movement, influenced by his Caribbean roots, popularized Calypso music in the United States; Whereas, in the early 1970s, the musical style of disco emerged and was popularized by programs such as Soul Train and by artists such as Donna Summer; Whereas reggae is a genre of music that originated in Jamaica in the late 1960s and incorporates some of the musical elements of rhythm and blues, jazz, mento, calypso, and African music, and was popularized by artists such as Bob Marley; Whereas rock and roll was developed from African-American musical styles such as gospel and rhythm and blues and was popularized by artists such as Chuck Berry, Bo Diddley, Little Richard, and Jimi Hendrix; Whereas rap, arguably the most complex and influential form of hip-hop culture, combines blues, jazz, and soul and elements of the African-American musical tradition with Caribbean calypso, dub, and dance hall reggae; Whereas the development and popularity of old-style rap combined confident beats with wordplay and storytelling, highlighting the struggle of African- American youth growing up in underresourced neighborhoods; Whereas Dayton, Ohio, known as the ``Land of Funk'', helped give rise to the genre of funk as a mixture of soul, jazz, and rhythm and blues and popularized bands such as the Ohio Players, Heatwave, Roger and Zapp, and Lakeside; Whereas contemporary rhythm and blues, which originated in the late 1970s and combines elements of pop, rhythm and blues, soul, funk, hip hop, gospel, and electronic dance music, was popularized by artists such as Whitney Houston and Aaliyah; Whereas Prince Rogers Nelson, who was known for electric performances and a wide vocal range, pioneered music that integrated a wide variety of styles, including funk, rock, contemporary rhythm and blues, new wave, soul, psychedelia, and pop; Whereas the incredible Billie Holiday created a cultural reset by recording ``Strange Fruit'', originally a poem that depicted lynching in the southern United States, which became the first protest song of the civil rights era; Whereas the talented jazz artist Duke Ellington pushed boundaries with his hits ``It Don't Mean a Thing if It Ain't Got That Swing'' and ``Sophisticated Lady'' and received 13 Grammy Awards and the Presidential Gold Medal; Whereas Sister Rosetta Tharpe, known as the ``Godmother of Rock 'n' Roll'', combined her distinctive guitar style with melodic blues and traditional gospel music that influenced the likes of Aretha Franklin and Chuck Berry; Whereas Tina Turner, known as the ``Queen of Rock 'n' Roll'', stunned audiences with her powerful vocals, was the first woman or African-American musician to be featured on the cover of Rolling Stone, and received 12 Grammy Awards during her lifetime; Whereas trailblazer Florence Price was the first noted African-American female composer to gain national status and the first African-American woman to have her composed work performed by a major national symphony orchestra; Whereas the classical singer Marian Anderson broke down racial barriers by performing at the Lincoln Memorial in 1939 after being denied the opportunity to sing in front of an integrated audience at the Daughters of the American Revolution Constitution Hall in Washington, DC; Whereas country music singer Charley Pride was inducted into the Country Music Hall of Fame in 2000 and has had more than 40 hits reach number 1 on the country charts; Whereas Nina Simone, one of the most prominent and extraordinary soul singers, has music spanning more than 4 decades that impacted generations with detailed story-telling; Whereas musician Bobby McFerrin brought joy to audiences everywhere with his smash hit ``Don't Worry Be Happy''; Whereas famous saxophone player John Coltrane made his impact on genres like bebop, jazz, and rhythm and blues through his work such as ``A Love Supreme''; Whereas David Jolicoeur, also known as Trugoy the Dove, was a founding member of hip-hop groups De La Soul and Native Tongues and used his passion for rap music to spread positive messages within his community; Whereas musical force Marvin Gaye used his versatility as an artist to produce hits like ``I Heard It Through the Grapevine'' and ``Ain't No Mountain High Enough''; Whereas, a recent study by the National Arts Education Data Project found that 49 percent of all students attending schools with a predominately African-American student population do not participate in school music programs; Whereas African-American students scored the lowest of all ethnicities in the most recent National Assessment for Educational Progress arts assessment; Whereas African-American students often receive a music education that does not reflect their own culture; Whereas students who are eligible for the school lunch program established under the Richard B. Russell National School Lunch Act (42 U.S.C. 1751 et seq.) have significantly lower scores on the music portion of the National Assessment for Educational Progress arts assessment than students who are ineligible for that program, which suggests that students in low-income families are disadvantaged in the subject of music; Whereas a study found that-- (1) nearly \2/3\ of music ensemble students were White and middle class, and only 15 percent of those students were African American; and (2) only 7 percent of music teacher licensure candidates were African American; and Whereas students of color face many barriers to accessing music education and training, especially students in large urban public schools: Now, therefore, be it Resolved, That the Senate-- (1) recognizes-- (A) the contributions of African Americans to the musical heritage of the United States; (B) the wide array of talented and popular African- American musical artists, composers, songwriters, and musicians who are underrecognized for contributions to music; (C) the achievements, talent, and hard work of African-American pioneer artists and the obstacles that those artists overcame to gain recognition; (D) the need for African-American students to have greater access to, and participation in, culturally relevant music programs in schools across the United States; and (E) Black History Month and African-American Music Appreciation Month as an important time-- (i) to celebrate the impact of the African- American musical heritage on the musical heritage of the United States; and (ii) to encourage greater access to music education so that the next generation may continue to greatly contribute to the musical heritage of the United States; and (2) designates June 2024 as ``African-American Music Appreciation Month''. <all>

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2024-06-24T00:12:29.107281

BILLS-118sjres96is

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to Nondiscrimination on the Basis of Sex in Education Programs or Activities Receiving Federal Financial Assistance.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S.J. Res. 96 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. J. RES. 96 Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to ``Nondiscrimination on the Basis of Sex in Education Programs or Activities Receiving Federal Financial Assistance''. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 12, 2024 Mrs. Hyde-Smith (for herself, Mr. Cassidy, Ms. Lummis, Mrs. Blackburn, Mrs. Britt, Mrs. Fischer, Mr. Tuberville, Mr. Johnson, Mr. Marshall, Mr. Lee, Mr. Risch, Mr. Crapo, Mr. Barrasso, Mr. Cotton, Mr. Scott of South Carolina, Mr. Budd, Mr. Rounds, Mr. Braun, Mr. Wicker, Mr. Tillis, Mr. Daines, Mr. Cramer, Mr. Hoeven, Mr. Cornyn, Mr. Hawley, Mr. Grassley, Mr. Mullin, Mr. Kennedy, Mr. Rubio, Mr. Ricketts, Mr. Graham, Mr. Cruz, Mr. Schmitt, Mr. Lankford, and Mr. Vance) introduced the following joint resolution; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions _______________________________________________________________________ JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to ``Nondiscrimination on the Basis of Sex in Education Programs or Activities Receiving Federal Financial Assistance''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the rule submitted by the Department of Education relating to ``Nondiscrimination on the Basis of Sex in Education Programs or Activities Receiving Federal Financial Assistance'' (89 Fed. Reg. 33474 (April 29, 2024)), and such rule shall have no force or effect. <all>

usgpo

2024-06-24T00:12:29.402894

BILLS-118sjres97is

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S.J. Res. 97 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. J. RES. 97 Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ``Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees''. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 13, 2024 Mr. Braun (for himself, Mr. Cassidy, Mr. Tuberville, Mr. McConnell, Mr. Thune, Mr. Barrasso, Mrs. Blackburn, Mr. Boozman, Mrs. Britt, Mrs. Capito, Mr. Cornyn, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Daines, Mr. Graham, Mr. Grassley, Mr. Hagerty, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Kennedy, Mr. Lankford, Ms. Lummis, Mr. Marshall, Mr. Moran, Mr. Mullin, Mr. Ricketts, Mr. Risch, Mr. Scott of South Carolina, Mr. Wicker, and Mr. Young) introduced the following joint resolution; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions _______________________________________________________________________ JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ``Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the rule submitted by the Department of Labor relating to ``Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees'' (89 Fed. Reg. 32842 (April 26, 2024)), and such rule shall have no force or effect. <all>

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2024-06-24T00:12:29.460496

BILLS-118s4311is

No Official Palestine Entry Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4311 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4311 To limit funds to the United Nations and other organizations that provide any status, rights, or privileges beyond observer status to the Palestine Liberation Organization, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Risch (for himself, Mr. Barrasso, Mr. Graham, Mr. Cassidy, Mr. Lee, Mr. Cotton, Mr. Cornyn, Mr. Daines, Mr. Ricketts, Mr. Crapo, Mr. Hagerty, Mr. Cruz, Mrs. Fischer, Mrs. Hyde-Smith, Mr. Young, Mr. Romney, Mr. Hoeven, Mr. Scott of Florida, Ms. Lummis, Mr. Tillis, Mr. Rubio, Mr. Tuberville, Ms. Ernst, Mr. Thune, and Mr. Mullin) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations _______________________________________________________________________ A BILL To limit funds to the United Nations and other organizations that provide any status, rights, or privileges beyond observer status to the Palestine Liberation Organization, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``No Official Palestine Entry Act of 2024''. SEC. 2. MODIFICATION WITH RESPECT TO MEMBERSHIP OF PALESTINE LIBERATION ORGANIZATION IN UNITED NATIONS AGENCIES. Section 414(a) of the Foreign Relations Authorization Act, Fiscal Years 1990 and 1991 (22 U.S.C. 287e note; Public Law 101-246) is amended by striking ``the same standing as member states'' and inserting ``any status, rights, or privileges beyond observer status''. SEC. 3. AMENDMENTS TO LIMITATIONS ON CONTRIBUTIONS TO THE UNITED NATIONS AND AFFILIATED ORGANIZATIONS. Section 410 of the Foreign Relations Authorization Act, Fiscal Years 1994 and 1995 (22 U.S.C. 287e note; Public Law 103-236) is amended by striking ``full membership'' each place it appears and inserting ``any status, rights, or privileges beyond observer status''. SEC. 4. RULE OF CONSTRUCTION. Nothing is this Act shall be construed to apply to Taiwan. <all>

usgpo

2024-06-24T00:12:29.476996

BILLS-118s4548cps

Foreign Extortion Prevention Technical Corrections Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4548 Considered and Passed Senate (CPS)] <DOC> 118th CONGRESS 2d Session S. 4548 To make a technical correction to the National Defense Authorization Act for Fiscal Year 2024 by repealing section 5101 and enacting an updated version of the Foreign Extortion Prevention Act. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 13, 2024 Mr. Whitehouse (for himself and Mr. Tillis) introduced the following bill; which was read twice, considered, read the third time, and passed _______________________________________________________________________ A BILL To make a technical correction to the National Defense Authorization Act for Fiscal Year 2024 by repealing section 5101 and enacting an updated version of the Foreign Extortion Prevention Act. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Foreign Extortion Prevention Technical Corrections Act''. SEC. 2. TECHNICAL CORRECTION TO 2024 NDAA. (a) Repeal of Previous Version of FEPA.--Section 5101 of the National Defense Authorization Act for Fiscal Year 2024 (Public Law 118-31) is repealed, and each provision of law amended by that section is amended to read as it read on the day before the date of enactment of that Act. (b) Prohibition of Demand for Bribe.-- (1) In general.--Chapter 63 of title 18, United States Code, is amended by adding at the end the following: ``Sec. 1352. Demands by foreign officials for bribes ``(a) Definitions.--In this section: ``(1) Foreign official.--The term `foreign official' means-- ``(A)(i) any official or employee of a foreign government or any department, agency, or instrumentality thereof; or ``(ii) any senior foreign political figure, as defined in section 1010.605 of title 31, Code of Federal Regulations, or any successor regulation; ``(B) any official or employee of a public international organization; ``(C) any person acting in an official capacity for or on behalf of-- ``(i) a government, department, agency, or instrumentality described in subparagraph (A)(i); or ``(ii) a public international organization. ``(2) Public international organization.--The term `public international organization' means-- ``(A) an organization that is designated by Executive order pursuant to section 1 of the International Organizations Immunities Act (22 U.S.C. 288); or ``(B) any other international organization that is designated by the President by Executive order for the purposes of this section, effective as of the date of publication of the order in the Federal Register. ``(b) Prohibition of Demand for a Bribe.-- ``(1) Offense.--It shall be unlawful for any foreign official or person selected to be a foreign official to corruptly demand, seek, receive, accept, or agree to receive or accept, directly or indirectly, anything of value personally or for any other person or nongovernmental entity, by making use of the mails or any means or instrumentality of interstate commerce-- ``(A) from-- ``(i) any person (as defined in section 104A of the Foreign Corrupt Practices Act of 1977 (15 U.S.C. 78dd-3), except that that definition shall be applied without regard to whether the person is an offender) while the foreign official or person selected to be a foreign official, or a person acting on behalf of the foreign official or person selected to be a foreign official, is in the territory of the United States; ``(ii) an issuer (as defined in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a))), or any officer, director, employee, or agent of an issuer or any stockholder thereof acting on behalf of the issuer; or ``(iii) a domestic concern (as defined in section 104 of the Foreign Corrupt Practices Act of 1977 (15 U.S.C. 78dd-2)), or any officer, director, employee, or agent of a domestic concern or any stockholder thereof acting on behalf of the domestic concern; and ``(B) in return for-- ``(i) being influenced in the performance of any act or decision of the foreign official or person selected to be a foreign official in the official capacity of the foreign official or person selected to be a foreign official; ``(ii) being induced to do or omit to do any act in violation of the lawful duty of the foreign official or person selected to be a foreign official; ``(iii) conferring any improper advantage; or ``(iv) using the influence of the foreign official or person selected to be a foreign official with a foreign government or instrumentality thereof to affect or influence any act or decision of that government or instrumentality, in connection with obtaining or retaining business for or with, or directing business to, any person. ``(2) Penalties.--Any person who violates paragraph (1) shall be fined not more than $250,000 or 3 times the monetary equivalent of the thing of value, imprisoned for not more than 15 years, or both. ``(3) Jurisdiction.--An offense under paragraph (1) shall be subject to extraterritorial Federal jurisdiction. ``(4) Report.--Not later than 1 year after the date of enactment of this section, and annually thereafter, the Attorney General, in consultation with the Secretary of State as relevant, shall submit to the Committee on the Judiciary and the Committee on Foreign Relations of the Senate and the Committee on the Judiciary and the Committee on Foreign Affairs of the House of Representatives, and post on the publicly available website of the Department of Justice, a report-- ``(A) focusing, in part, on demands by foreign officials for bribes from entities domiciled or incorporated in the United States, and the efforts of foreign governments to prosecute such cases; ``(B) addressing United States diplomatic efforts to protect entities domiciled or incorporated in the United States from foreign bribery, and the effectiveness of those efforts in protecting such entities; ``(C) summarizing major actions taken under this section in the previous year, including enforcement actions taken and penalties imposed; ``(D) evaluating the effectiveness of the Department of Justice in enforcing this section; and ``(E) detailing what resources or legislative action the Department of Justice needs to ensure adequate enforcement of this section. ``(5) Rule of construction.--This subsection shall not be construed as encompassing conduct that would violate section 30A of the Securities Exchange Act of 1934 (15 U.S.C. 78dd-1) or section 104 or 104A of the Foreign Corrupt Practices Act of 1977 (15 U.S.C. 78dd-2; 15 U.S.C. 78dd-3) whether pursuant to a theory of direct liability, conspiracy, complicity, or otherwise.''. (2) Technical and conforming amendment.--The table of sections for chapter 63 of title 18, United States Code, is amended by adding at the end the following: ``1352. Demands by foreign officials for bribes.''. <all>

usgpo

2024-06-24T00:12:29.601985

BILLS-118s4312is

United States Senate Commission on Mental Health Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4312 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4312 To establish a United States Senate Commission on Mental Health for the purpose of providing to Congress and the President independent, expert policy recommendations to improve access to and affordability of mental health care services. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Fetterman (for himself and Ms. Smith) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions _______________________________________________________________________ A BILL To establish a United States Senate Commission on Mental Health for the purpose of providing to Congress and the President independent, expert policy recommendations to improve access to and affordability of mental health care services. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``United States Senate Commission on Mental Health Act of 2024''. SEC. 2. PURPOSES. The purposes of this section are as follows: (1) To establish the United States Senate Commission on Mental Health to review available data, research, policies, and other pertinent information regarding mental health care services and delivery. (2) To facilitate discussion among relevant stakeholders, including Federal agencies, to understand what policies have successfully improved mental health care services and delivery and to develop recommendations for congressional and executive action to improve access to, and affordability of, mental health care services. SEC. 3. ESTABLISHMENT OF UNITED STATES SENATE COMMISSION ON MENTAL HEALTH. (a) Establishment.--There is established a United States Senate Commission on Mental Health (referred to in this Act as the ``Commission''). (b) Purposes.--The purpose of the Commission is to provide Congress and the President independent, expert policy recommendations to improve mental health care services, including improving equitable access and affordability. (c) Membership.-- (1) In general.--The Commission shall be composed of 8 members, as follows: (A) Six shall be Members of the Senate appointed by the President of the Senate, of which-- (i) 3 shall be selected, after consultation with the majority leader of the Senate, from the majority party; and (ii) 3 shall be selected, after consultation with the minority leader of the Senate, from the minority party. (B) Two shall be experts with a demonstrated academic and professional background in mental health care, selected by the majority leader of the Senate, after consultation with the minority leader of the Senate. (2) Period of appointment.--Each member of the Commission shall be appointed for a term of 2 years. (3) Chair and vice chair.--On the commencement of each 2- year period of appointment of the members of the Commission, the members of the Commission shall select a Chair from among the members appointed under paragraph (1)(A)(i), and a Vice Chair from among the members appointed under paragraph (1)(A)(ii). (4) No compensation.--The members of the Commission shall serve without compensation for their work on the Commission. (5) Travel expenses.--A member of the Commission shall be allowed travel expenses, including per diem in lieu of subsistence, at rates authorized for employees of agencies under subchapter I of chapter 57 of title 5, United States Code, while away from their homes or regular places of business in the performance of services for the Commission. (d) Retention of Support.--The Commission shall retain and make use of such staff, materials, and infrastructure of the Senate as is necessary to carry out the duties of the Commission. (e) Meetings.--The Commission shall conduct meetings, not less frequently than every 90 days, with relevant stakeholders across the United States, including mental health care providers (such as physicians, psychiatrists, psychologists, counselors, and therapists), patients, and individuals representing advocacy groups, academic and research institutions, nonprofit organizations, industry, and other relevant stakeholders, as determined by the Commission. (f) Vacancies.--A vacancy in the Commission-- (1) shall not affect the powers of the Commission; and (2) shall be filled in the same manner as the original appointment. SEC. 4. DUTIES OF THE COMMISSION. (a) In General.--The Commission shall study relevant issues regarding mental health care services and delivery and issue reports, as required under subsection (b). (b) Topics Studied.-- (1) In general.--Each calendar year, the Commission shall study specific topics relating to improving mental health care services and delivery, including improving equitable access and affordability with respect to such services, in accordance with paragraphs (2) and (3), including by convening meetings described in section 3(e). (2) Initial topics.--In the first year following the establishment of the Commission, the Commission shall consider the following topics: (A) Mental health care services coverage, including mental health parity requirements, under the Medicare program under title XVIII of the Social Security Act (42 U.S.C. 1395 et seq.), the Medicaid program under title XIX of such Act (42 U.S.C. 1396 et seq.), the State Children's Health Insurance Program under title XXI of such Act (42 U.S.C. 1397aa et seq.), and, as the Commission determines appropriate, other health programs administered by the Federal Government, including-- (i) the extent to which mental health care services are covered under such programs; and (ii) the extent to which mental health parity requirements applicable to such programs are effective in meeting the mental health care needs of patients. (B) Reimbursement rates for mental health care services with respect to mental health care providers, including-- (i) the extent to which reimbursement rates under the programs described in subparagraph (A)(i), impact the affordability, accessibility, and availability of mental health care services; (ii) how reimbursement rates for all mental health care services differ from reimbursement rates for physical health care services under such programs; and (iii) the probable impact of increasing the rates of mental health reimbursement rates under such programs, including the cost to the Federal Government and the number of providers and patients who would be impacted. (C) Workforce challenges with respect to mental health care providers, including-- (i) challenges and barriers that prevent individuals, including students, from entering mental health care professions; (ii) challenges and barriers that students enrolled in mental health care professional training programs face while pursuing their degrees; (iii) the challenges and barriers professors and staff in such training programs face; (iv) challenges and barriers mental health care providers face; and (v) factors that contribute to mental health care providers leaving the field. (3) Topics in subsequent years.--After the submission of the first report under subsection (c) that addresses the topics described in paragraph (2), the Commission shall consider such topics each year as the Commission determines appropriate. (4) Definition.--In this subsection, the term ``mental health parity'' means-- (A) with respect to the Medicare program under title XVIII of the Social Security Act (42 U.S.C. 1395 et seq.), and other applicable plans administered by the Federal Government, efforts to ensure that reimbursement rates for mental health care services are equivalent to reimbursement rates for physical health care services under such program or such plans; and (B) with respect to the Medicaid program under title XIX of such Act (42 U.S.C. 1396 et seq.) and the State Children's Health Insurance Program under title XXI of such Act (42 U.S.C. 1397aa et seq.), the requirements set forth in the rule titled ``Medicaid and Children's Health Insurance Programs; Mental Health Parity and Addiction Equity Act of 2008; the Application of Mental Health Parity Requirements to Coverage Offered by Medicaid Managed Care Organizations, the Children's Health Insurance Program (CHIP), and Alternative Benefit Plans'' (81 Fed. Reg. 18390). (c) Annual Report.-- (1) In general.--Not later than January 1 each year, beginning with the first year that begins at least 2 years after the date of enactment of this Act, the Commission shall submit to Congress, the Secretary of Health and Human Services, and, as appropriate, the heads of other relevant Federal agencies a report, based on the studies carried out under subsection (b), regarding the state of mental health care services and delivery, including a needs and gap assessment across the continuum of mental health care. Each report shall include-- (A) an analysis of the current barriers to accessing affordable and equitable mental health care services, challenges facing the mental health care workforce, and successful efforts by State, local, or Tribal entities to improve mental health care services and delivery; and (B) policy recommendations for legislative and administrative actions to address issues identified through the report. (2) Contents of report.--Each report submitted under paragraph (1) shall include a discussion of the topics considered under subsection (b) for the applicable year and the following: (A) The most current and comprehensive data and research on the state of mental health care in the United States, including barriers to accessing mental health care. (B) A comprehensive needs and gap assessment across the continuum of mental health care services, using disaggregated data, for-- (i) different age groups, such as for children, adolescents, adults, and older adults; (ii) student status, for each of the primary, secondary, and postsecondary levels; (iii) people with disabilities; (iv) individuals with co-morbidities, including substance use; (v) racial and ethnic minorities; (vi) LGBTQ+ individuals; (vii) individuals residing in rural communities; and (viii) members of Tribal communities. (C) Prioritizing health equity through building and maintaining a culturally competent and diverse mental health care workforce across the continuum of care. SEC. 5. TERMINATION OF COMMISSION. The Commission shall terminate 10 years after the date of enactment of this Act. SEC. 6. AUTHORIZATION OF APPROPRIATIONS. To carry out this Act, there is authorized to be appropriated such sums as may be necessary for each of fiscal years 2025 through 2034. <all>

usgpo

2024-06-24T00:12:29.863484

BILLS-118s4309is

Relocation Assistance for Military Families Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4309 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4309 To require the Secretary of Defense to conduct an evaluation of relocation assistance programs available to members of the Armed Forces. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Rubio (for himself and Mr. Ossoff) introduced the following bill; which was read twice and referred to the Committee on Armed Services _______________________________________________________________________ A BILL To require the Secretary of Defense to conduct an evaluation of relocation assistance programs available to members of the Armed Forces. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Relocation Assistance for Military Families Act of 2024''. SEC. 2. EVALUATION OF RELOCATION ASSISTANCE PROGRAMS. (a) In General.--The Secretary of Defense shall conduct an in-depth evaluation of relocation assistance programs carried out under section 1056 of title 10, United States Code, and the use of such programs by members of the Armed Forces. (b) Elements.--The evaluation required by subsection (a) shall include the following: (1) An analysis of whether the relocation assistance programs offered by the Department of Defense as of the date of the enactment of this Act-- (A) conform to the requirements for such programs under section 1056 of title 10, United States Code; and (B) meet the needs of members of the Armed Forces. (2) An identification of the relocation assistance programs most frequently used by members, including an identification of the key factors that contribute to such usage. (3) An identification of-- (A) specific barriers faced by members in accessing effective relocation assistance; and (B) strategies to mitigate those barriers. (4) An identification of a representative sample of military installations located in high-cost areas and, with respect to such installations, an assessment of the following: (A) The success of relocation assistance programs at such installations. (B) Partnerships between such installations and local communities aimed at helping alleviate financial burdens for members, specifically related to housing. (C) Housing supply for members, both accompanied and unaccompanied by dependents, comparing supply with total need. (5) An analysis of the support mechanisms available as of the date of the enactment of this Act for military families facing significant financial burdens as a result of permanent changes of station to high-cost areas. (c) Consultations.--In conducting the evaluation required by subsection (a), the Secretary shall consult with the following: (1) Military family support organizations. (2) Members of the Armed Forces who have recently undergone permanent changes of station, both accompanied and unaccompanied by dependents. (3) Members who have used relocation assistance services, with a focus on those who have moved to or from high-cost areas. (4) Commanders of military installations. (5) A selection of State and local officials that represent areas in the vicinity of military installations. (6) The Office of Local Defense Community Cooperation of the Department of Defense. (7) Housing and urban development experts with expertise in accommodations in high-cost areas. (8) Such other individuals or organizations as the Secretary considers appropriate. (d) Best Practices Guide.-- (1) In general.--Not later than 180 days after the completion of the evaluation required by subsection (a), the Secretary of Defense, in coordination with the Secretaries of the military departments, shall publish a best practices guide to be used by the leadership of military installations and by local communities to assist members of the Armed Forces with accessing relocation assistance programs. (2) Elements.--The best practices guide required by paragraph (1) shall address access to relocation assistance programs determined, pursuant to the evaluation conducted under subsection (a), to be successful in assisting members who make permanent changes of station to high-cost areas. Such programs shall include programs offered both through the Department of Defense and through local communities. (e) Report Required.--Not later than one year after the date of the enactment of this Act, the Secretary of Defense shall submit to the congressional defense committees (as defined in section 101 of title 10, United States Code) a report that includes the following: (1) Detailed findings from the evaluation conducted under subsection (a). (2) The best practices guide required by subsection (d), not later than 30 days before publication of the guide. (3) Recommendations for legislative or policy changes to relocation assistance programs to better fulfill the objectives of section 1056 of title 10, United States Code. (4) A roadmap, including projected timelines and resources required, for-- (A) implementation and integration of the best practices set forth in the guide; and (B) addressing the needs of members of the Armed Forces making permanent changes of station to high-cost areas. (f) Review of Best Practices Guide Implementation.--Not later than 3 years after the best practices guide required by subsection (d) is published, the Comptroller General of the United States shall review the implementation of the guide, relocation assistance programs, and other resources provided to members of the Armed Forces to assist such members with permanent changes of station, specifically focusing on high-cost areas. (g) High-Cost Area Defined.-- (1) In general.--In this section, the term ``high-cost area'' shall have the meaning determined by the Secretary of Defense in regulations prescribed in accordance with paragraph (2). (2) Regulations.--In prescribing regulations defining the term ``high-cost area'' for purposes of this section, the Secretary shall-- (A) solicit and incorporate feedback from-- (i) appropriate officials of the General Services Administration who work on relevant matters; and (ii) individuals and entities described in subsection (c); and (B) consider relevant factors from across various Federal agencies that may indicate areas that are high cost, such as the non-standard per diem rates of the General Services Administration. <all>

usgpo

2024-06-24T00:12:29.972279

BILLS-118s4304is

Mamas First Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4304 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4304 To amend title XIX of the Social Security Act to provide coverage under the Medicaid program for services provided by doulas and midwives, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Ms. Warren (for herself, Mr. Booker, Mr. Casey, Mr. Padilla, Ms. Duckworth, Mr. Sanders, Mr. Heinrich, and Mr. Blumenthal) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend title XIX of the Social Security Act to provide coverage under the Medicaid program for services provided by doulas and midwives, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Mamas First Act''. SEC. 2. FINDINGS. Congress finds the following: (1) According to the Centers for Disease Control and Prevention, the maternal mortality rate varies drastically for women by race and ethnicity. On average, there are 26.6 deaths per 100,000 live births for White women, 69.9 deaths per 100,000 live births for Black women, 49.2 deaths for American Indian and Alaskan Native women, and 28 deaths per 100,000 live births for Hispanic women. While maternal mortality disparately impacts Black women and indigenous women, this urgent public health crisis traverses race, ethnicity, socioeconomic status, educational background, and geography. (2) United States maternal mortality rates are the highest in the developed world and are increasing rapidly. (3) Four out of five of these maternal deaths are likely preventable. (4) According to the National Institutes of Health, doula- assisted mothers are four times less likely to have a low- birth-weight baby, two times less likely to experience a birth complication involving themselves or their baby, and significantly more likely to initiate breastfeeding. (5) Midwife-led care is associated with cost savings, decreased rates of intervention, lower cesarean rates, lower preterm birth rates, and healthier outcomes for mothers and babies. (6) Midwives may practice in any setting, including the home, community, hospitals, birth centers, clinics, or health units. SEC. 3. MEDICAID COVERAGE OF SERVICES PROVIDED BY DOULAS AND MIDWIVES. (a) In General.--Section 1905 of the Social Security Act (42 U.S.C. 1396d) is amended-- (1) in subsection (a)-- (A) in paragraph (31), by striking ``and'' at the end; (B) by redesignating paragraph (32) as paragraph (33); and (C) by inserting after paragraph (31) the following new paragraph: ``(32) services and care, including prenatal, delivery, and postpartum care, that is provided in a culturally congruent manner by doulas, midwives, and tribal midwives (as those terms are defined in subsection (kk)), that is provided in the home, community, a hospital, birth center, clinic, health unit, or is furnished via telehealth to the extent authorized under State law; and''; and (2) by adding at the end the following: ``(kk) Doulas, Midwives, and Tribal Midwife Defined.--For purposes of subsection (a)(32): ``(1) Doulas defined.--The term `doula' means an individual who-- ``(A)(i) has completed 60 hours of foundational training; ``(ii) is certified by an organization, which has been established for not less than five years and which requires the completion of continuing education to maintain such certification, to provide non-medical advice, information, emotional support, and physical comfort to an individual during such individual's pregnancy, childbirth, and postpartum period; and ``(iii) maintains such certification by completing such required continuing education; ``(B) has received three letters of recommendation from former clients in the past 5 years; or ``(C) is already authorized to serve within the individual's State. ``(2) Midwives defined.--The term `midwife' means a midwife who meets at a minimum the international definition of the midwife and global standards for midwifery education as established by the International Confederation of Midwives. ``(3) Tribal midwife defined.--The term `tribal midwife' means an individual who is recognized by an Indian tribe (as defined in section 4 of the Indian Health Care Improvement Act (25 U.S.C. 1603)) to practice midwifery for such tribe.''. (b) Requiring Mandatory Coverage Under State Plan.--Section 1902(a)(10)(A) of the Social Security Act (42 U.S.C. 1396a(a)(10)(A)) is amended, in the matter preceding clause (i), by striking ``and (30)'' and inserting ``(30), and (32)''. (c) Effective Date.-- (1) In general.--Subject to paragraph (2), the amendments made by this section shall apply with respect to medical assistance furnished on or after January 1, 2024. (2) Exception for state legislation.--In the case of a State plan under title XIX of the Social Security Act (42 U.S.C. 1396 et seq.) that the Secretary of Health and Human Services determines requires State legislation in order for the respective plan to meet any requirement imposed by amendments made by this section, the respective plan shall not be regarded as failing to comply with the requirements of such title solely on the basis of its failure to meet such an additional requirement before the first day of the first calendar quarter beginning after the close of the first regular session of the State legislature that begins after the date of the enactment of this Act. For purposes of the previous sentence, in the case of a State that has a 2-year legislative session, each year of the session shall be considered to be a separate regular session of the State legislature. <all>

usgpo

2024-06-24T00:12:29.983748

BILLS-118s4310is

Chugach Alaska Land Exchange Oil Spill Recovery Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4310 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4310 To exchange non-Federal land held by the Chugach Alaska Corporation for certain Federal Land in the Chugach Region, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Ms. Murkowski (for herself and Mr. Sullivan) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources _______________________________________________________________________ A BILL To exchange non-Federal land held by the Chugach Alaska Corporation for certain Federal Land in the Chugach Region, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Chugach Alaska Land Exchange Oil Spill Recovery Act of 2024''. SEC. 2. PURPOSE; FINDINGS. (a) Purpose.--The purposes of this Act are-- (1) to authorize, direct, and expedite the exchange of land and interests in land between Chugach Alaska and the United States; and (2) to consolidate Federal ownership of the surface and subsurface estate of Federal land and interests acquired under the Program. (b) Findings.--Congress finds that-- (1) on March 24, 1989, the oil tanker Exxon Valdez ran aground in Prince William Sound, Alaska, spilling 11,000,000 gallons of crude oil, spreading in the months that followed and covering approximately 1,300 miles of coastline, with immense impact for fish and wildlife and their habitats, and for local industries and communities; (2) civil settlement funds of $900,000,000 paid by Exxon to the United States and the State of Alaska were used to establish the Exxon Valdez Oil Spill Trustee Council (referred to in this section as ``EVOSTC'') and to develop the Program; (3) through the Program, the EVOSTC dedicated nearly 60 percent of the funds to acquire fee title of, and conservation easements on, the surface estate of more than 600,000 acres in the area impacted by the oil spill, including 241,000 acres of surface estate land and conservation easements in the Chugach Region, giving the United States ownership of, and conservation easements on, 241,000 acres of formerly Native-owned land within the Chugach Region; (4) the conflict described in the Chugach Region Land Study Report and in this Act occurred when surface estate was purchased by the EVOSTC for conservation purposes while development rights remained for the subsurface (dominant estate) owned by Chugach Alaska, which shall be resolved by Chugach Alaska trading 231,036 acres of subsurface estate under surface fee and conservation easements on surface land owned by the Federal Government for 65,403 acres of fee simple land owned by the Federal Government; (5) most of the surface land and conservation easements on surface land in the Chugach Region described in paragraph (3) that were acquired by the EVOSTC were purchased from 4 Alaska Native Village Corporations-- (A) Chenega Corporation; (B) the English Bay (Nanwalek Corporation); (C) the Eyak Corporation; and (D) the Tatitlek Corporation; (6) in accordance with section 14 of the Alaska Native Claims Settlement Act (43 U.S.C. 1613), when a Village Corporation selects and receives title to the surface estate to fulfill its land entitlement, the Regional Corporation receives title to the subsurface, resulting in split ownership between Alaska Native entities from the same region; (7) Chugach Alaska holds the dominant subsurface estate to approximately 241,000 acres of surface land acquired by the EVOSTC from the Village Corporations under paragraph (5) that is protected under the Program; (8) none of the acquisitions described in paragraph (5) by the EVOSTC included the subsurface interests owned by Chugach Alaska, despite awareness by the EVOSTC of the provisions in the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.) creating split ownership and the existing right of the subsurface owner to use the surface if it constitutes reasonable use in the development of subsurface resources; (9) due to the split estate ownership described in paragraph (8), which became a split between Chugach Alaska and the Federal Government, there is a clear conflict with the preservation goal of the Program and the responsibility of Chugach Alaska, on behalf of the Alaska Native shareholders of Chugach Alaska, to develop the subsurface estate under the land; (10) recognizing the conflicts between the mandates in the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.) on Native Corporations and the goals of the Program, and the significant social and economic impact of the Program on the region and on Chugach Alaska and the land held by Chugach Alaska, Congress directed, in section 1113 of the John D. Dingell, Jr. Conservation, Management, and Recreation Act (Public Law 116-9; 133 Stat. 614), that the Bureau of Land Management conduct a study and identify accessible and economically viable Federal land that could be exchanged with Chugach Alaska, and to recommend exchange options that would consolidate ownership of the surface and subsurface estates of land in the Program; (11) the Bureau of Land Management submitted the Chugach Region Land Study Report to Congress in December 2022, over a year after the 18-month deadline; (12) in the Chugach Region Land Study Report, the Bureau of Land Management explained that the Program acquisitions have greatly increased the complexity and the costs of any development by Chugach Alaska of its subsurface interests, significantly reduced Native-owned land and Native control over management of land in the region, and, along with the larger oil spill cleanup effort, highly disrupted the socio-cultural environment and economies in the Alaska Native communities in the region; (13) the Chugach Region Land Study Report identifies land available for exchange from both the Federal Government and Chugach Alaska to inform a land exchange to address the impact of the Program on Chugach Alaska and the ability of Chugach Alaska to meet its responsibilities to its Native shareholders under the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.); (14) the land exchange between Chugach Alaska and the Federal Government in this Act-- (A) furthers objectives under the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.), including balancing land selections between areas that are significant in cultural history and traditions and areas that have potential economic value for development; and (B) facilitates more efficient Federal land management of the Program by Federal acquisition of nearly 231,000 acres of subsurface estate that underlies federally owned surface fee and conservation easements to perfect conservation of the surface, which is the purpose of the Program; and (15) the land exchange in this Act, based on the findings in this section, is in the public interest. SEC. 3. DEFINITIONS. In this Act: (1) ANSCA terms.--The terms ``Native Corporation'', ``Regional Corporation'', and ``Village Corporation'' have the meanings given those terms in section 3 of the Alaska Native Claims Settlement Act (43 U.S.C. 1602). (2) Chugach alaska.--The term ``Chugach Alaska'' means the Chugach Alaska Corporation, a Regional Corporation. (3) Chugach region land study report.--The term ``Chugach Region Land Study Report'' means the report and recommendations submitted to Congress by the Secretary pursuant to section 1113 of the John D. Dingell, Jr. Conservation, Management, and Recreation Act (Public Law 116-9; 133 Stat. 614). (4) Federal exchange land.--The term ``Federal exchange land'' means the approximately 65,403 acres of fee simple land located in the Chugach Region as described in section 4(e). (5) Non-federal land.--The term ``non-Federal land'' means the parcels of subsurface land comprising approximately 231,000 acres-- (A) owned by Chugach Alaska and conveyed to Chugach Alaska pursuant to the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.); (B) described in section 4(f); and (C) for which-- (i) the United States has acquired fee title to the surface estate or a conservation easement on the surface estate pursuant to the Program; or (ii) the State has acquired fee title to, and the United States has acquired a conservation easement in, the surface estate pursuant to the Program. (6) Program.--The term ``Program'' means the Exxon Valdez Oil Spill Habitat Protection and Acquisition Program of the Exxon Valdez Oil Spill Trustee Council. (7) Secretary.--The term ``Secretary'' means the Secretary of the Interior. (8) State.--The term ``State'' means the State of Alaska. SEC. 4. LAND EXCHANGE. (a) In General.--Not later than 1 year after the date of enactment of this Act, if Chugach Alaska offers to convey to the Secretary all rights, title, and interest in and to the non-Federal land, the Secretary shall accept the offer and convey in exchange all rights, title, and interest of the Federal Government in and to the Federal exchange land. (b) Condition on Acceptance.--Title to the non-Federal land exchanged in subsection (a) shall be in a form that is acceptable to the Secretary. (c) Treatment of Land Conveyed.--Except as otherwise provided, any land conveyed to Chugach Alaska under subsection (a) shall be considered to be land conveyed by the Secretary under the Alaska Native Claims Settlement Act (43 U.S.C. 1601 et seq.). (d) Valid Existing Rights.--The conveyances under subsection (a) shall be subject to any valid existing rights, reservations, rights-of- way, or other encumbrances of third parties in, to, or on the Federal exchange land or the non-Federal land as of the date of enactment of this Act. (e) Conveyance of Federal Exchange Land.--On receipt of title to the non-Federal land, the Secretary shall simultaneously convey to Chugach Alaska-- (1) all rights, title, and interest in and to the National Forest System land of the Forest Service identified in the Chugach Regional Land Study and Report, comprising approximately 63,443 total acres, comprising-- (A) T. 3 N., R. 10 E., Seward Meridian, Drier Bay Parcel, comprising approximately 2,996 acres of surface estate; (B) T. 17 and 18 S., R. 7 and 8 E., Copper River Meridian, Kushtaka Lake Parcel, comprising approximately 7,876 acres of surface and subsurface estate; (C) T. 2 N., R. 1 and 2 E., Seward Meridian, Snow River Parcel, comprising approximately 11,462 acres of surface and subsurface estate; (D) T. 17 and 18 S., R. 8 W., Copper River Meridian, Hinchinbrook Island Parcel, comprising approximately 2,646 acres of surface and subsurface estate; (E) T. 17 S., R. 7 E., secs. 5, 8, 18, 19, and 30 through 33, Copper River Meridian, Kushtaka Lake Parcel, comprising approximately 6,375 acres of surface and subsurface estate; (F) T. 18 S., R. 7 E., secs. 6 and 7, Copper River Meridian, Kushtaka Lake Parcel, comprising approximately 1,280 acres of surface and subsurface estate; (G) T. 16 S., R. 5 E., secs. 24 through 26 and 36, Copper River Meridian, Martin River Parcel, comprising approximately 2,240 acres of surface and subsurface estate; (H) T. 16, S., R. 6 E., secs. 16, 19 through 21, and 25 through 36, Copper River Meridian, Martin River Parcel, comprising approximately 8,305 acres of surface and subsurface estate; (I) T. 17 S., R. 6 E., secs. 1 through 4, and 10, Copper River Meridian, Martin River Parcel, comprising approximately 3,170 acres of surface and subsurface estate; (J) T. 16 S., R. 4 E., secs. 1 through 4, 9 through 13, and 24, Copper River Meridian, Johnson River Parcel, comprising approximately 5,200 acres of surface and subsurface estate; (K) T. 16 S., R. 5 E., secs. 5 through 9, and 15 through 22, Copper River Meridian, Johnson River Parcel, comprising approximately 6,165 acres of surface and subsurface estate; and (L) T. 19 S., R. 15 E., secs. 12 through 14, 23, 24, 26, 27, 33, and 34, Copper River Meridian, Robinson Mountains Parcel, comprising approximately 5,728 acres of surface and subsurface estate; and (2) all rights, title, and interest in and to the Federal land administered by the Bureau of Land Management and National Park Service identified in the Chugach Regional Land Study and Report, comprising approximately 1,960 total acres, comprising-- (A) T. 21 S., R. 24 E., Copper River Meridian, Taan Fjord Parcel, comprising approximately 450 acres of surface and subsurface estate; (B) T. 21 and 22 S., R. 24 E., Copper River Meridian, Kageet Point Parcel, comprising approximately 310 acres of surface and subsurface estate; and (C) T. 9 S., R. 2 W., secs. 5 and 6, Copper River Meridian, Thompson Pass Parcel, comprising 1,200 acres of surface and subsurface estate. (f) Conveyance of Non-Federal Land.-- (1) Conveyance.--The non-Federal land to which Chugach Alaska may convey to the Secretary all rights, title, and interest, that the Secretary determines to be applicable, includes-- (A) the approximately 130,469.93 subsurface acres, which comprises-- (i) T. 13 S., R. 1 W., sec. 19, Copper River Meridian, comprising approximately 467 acres; (ii) T. 13 S., R. 2 W., secs. 23 through 27, Copper River Meridian, comprising approximately 2,627 acres; (iii) T. 15 S., R. 2 W., secs. 3 through 9, 17 through 19, and 29 through 33, Copper River Meridian, comprising approximately 8,277.36 acres; (iv) T. 16 S., R. 2 W., secs. 1 through 4, and 6, Copper River Meridian, comprising approximately 2,373.34 acres; (v) T. 14 S., R. 3 W., secs. 32 and 33, Copper River Meridian, comprising approximately 240 acres; (vi) T. 15 S., R. 3 W., secs. 3 through 7, portions of secs. 8 and 9, and secs. 12, 13, 18, 19, 24, 25, 35, and 36, Copper River Meridian, comprising approximately 3,486.36 acres; (vii) T. 16 S., R. 3 W., secs. 1, 11, and 15, Copper River Meridian, comprising approximately 962 acres; (viii) T. 13 S., R. 4 W., secs. 26, 27, and 32 through 34, Copper River Meridian, comprising approximately 2,494.05 acres; (ix) T. 14 S., R. 4 W., secs. 1 through 11, 15 through 21, 25, 30, and 31, Copper River Meridian, comprising approximately 6,750.98 acres; (x) T. 15 S., R. 4 W., secs. 8 through 12, 16 through 22, and 24, Copper River Meridian, comprising approximately 5,839.15 acres; (xi) T. 13 S., R. 5 W., secs. 3, 9 through 11, 14 through 20, a portion of sec. 21, and secs. 31 and 36, Copper River Meridian, comprising approximately 4,216.36 acres; (xii) T. 14 S., R. 5 W., sec. 1, a portion of sec. 2, secs. 6 through 12, 14 through 21, 29, and 30, Copper River Meridian, comprising approximately 9,057.6 acres; (xiii) T. 15 S., R. 5 W., secs. 23 and 24, Copper River Meridian, comprising approximately 292.97 acres; (xiv) T. 12 S., R. 6 W., secs. 11, 13, 14, 23, and 24, Copper River Meridian, comprising approximately 1,980.69 acres; (xv) T. 12 S., R. 7 W., secs. 32, 34, 35, and 36, Copper River Meridian, comprising approximately 343 acres; (xvi) T. 13 S., R. 7 W., secs. 1 through 22, 24, 25, and 27 through 36, Copper River Meridian, comprising approximately 17,234.88 acres; (xvii) T. 14 S., R. 7 W., secs. 2, 3, and 6, Copper River Meridian, comprising approximately 203 acres; (xviii) T. 13 S., R. 8 W., secs. 1, 9 through 11, 13 through 29, and 32 through 36, Copper River Meridian, comprising approximately 9,282.25 acres; (xix) T. 14 S., R. 8 W., secs. 1 through 5, Copper River Meridian, comprising approximately 629.25 acres; (xx) T. 13 S., R. 9 W., sec. 24, Copper River Meridian, comprising approximately 10 acres; (xxi) T. 10 S., R. 10 W., sec. 32, Copper River Meridian, comprising approximately 1.19 acres; (xxii) T. 3 N., R. 7 E., secs. 1 through 4, 8 through 17, 20, 22, 23, 24, 26, 27, and 29, Seward Meridian, comprising approximately 9,314 acres; (xxiii) T. 4 N., R. 7 E., secs. 11, 14, 15, 21 through 28, and 33 through 36, Seward Meridian, comprising approximately 8,684.96 acres; (xxiv) T. 3 N., R. 8 E., secs. 4 through 7, 18, and 19, Seward Meridian, comprising approximately 1,120.50 acres; (xxv) T. 4 N., R. 8 E., secs. 29 through 32, and 36, Seward Meridian, comprising approximately 1,404.25 acres; (xxvi) T. 1 N., R. 10 E., secs. 5 and 8, Seward Meridian, comprising approximately 743 acres; (xxvii) T. 3 S., R. 2 W., secs. 22, 23, 25, 26, 33, 35, and 36, Seward Meridian, comprising approximately 2,125 acres; (xxviii) T. 4 S., R. 2 W., secs. 2, 3, 4, and 11, Seward Meridian, comprising approximately 1,225 acres; (xxix) T. 5 S., R. 3 W., secs. 18, 19, 20, 23, 26 through 29, and 32 through 36, Seward Meridian, comprising approximately 3,670 acres; (xxx) T. 5 S., R. 4 W., sec. 13, Seward Meridian, comprising approximately 380 acres; (xxxi) T. 6 S., R. 4 W., sec. 7, Seward Meridian, comprising approximately 613 acres; (xxxii) T. 5 S., R. 5 W., sec. 33, Seward Meridian, comprising approximately 620 acres; (xxxiii) T. 6 S., R. 5 W., secs. 4, 9, 28, 29, 32, and 33, Seward Meridian, comprising approximately 3,205 acres; (xxxiv) T. 7 S., R. 5 W., sec. 4, Seward Meridian, comprising approximately 230 acres; (xxxv) T. 8 S., R. 6 W., secs. 7 through 12, 14 through 22, and 27 through 34, Seward Meridian, comprising approximately 6,797.39 acres; (xxxvi) T. 7 S., R. 7 W., secs. 1, 2, 5, 6, 8, 9, 11 through 14, 16, 17, 23, and 24, Seward Meridian, comprising approximately 6,031.78 acres; (xxxvii) T. 8 S., R. 7 W., secs. 24, 25, 35, and 36, Seward Meridian, comprising approximately 705.65 acres; and (xxxviii) T. 7 S., R. 8 W., secs. 1, 5, 8, 12, 13, 14, 16, 17, 20, 21, 23, 26 (lots 1 through 4), 27, 28, and 29, Seward Meridian, comprising approximately 6,831.97 acres; (B) the approximately 24,911.65 subsurface acres in which the fee title to the surface estate has been acquired by the State, and a conservation easement in the surface estate has been acquired by the United States, pursuant to the Program, which comprises-- (i) T. 16 S., R. 4 W., sec. 6, Copper River Meridian, comprising approximately 157.49 acres; (ii) T. 15 S., R. 5 W., secs. 35 and 36, Copper River Meridian, comprising approximately 1,280 acres; (iii) T. 16 S., R. 5 W., secs. 3, 4, 10, 11, and 12, Copper River Meridian, comprising approximately 1,479 acres; (iv) T. 11 S., R. 8 W., secs. 4 and 9, Copper River Meridian, comprising approximately 579 acres; (v) T. 12 S., R. 8 W., sec. 1, Copper River Meridian, comprising approximately 130 acres; (vi) T. 9 S., R. 9 W., secs. 26, 27, 33, 34, and 35, Copper River Meridian, comprising approximately 1,524.26 acres; (vii) T. 10 S., R. 10 W., secs. 15, 16, 22, 23, 27, 28, 32, and 33, Copper River Meridian, comprising approximately 2,183.65 acres; (viii) T. 4 N., R. 7 E., secs. 12 and 13, Seward Meridian, comprising approximately 1,145 acres; (ix) T. 3 N., R. 8 E., secs. 12 and 13, Seward Meridian, comprising approximately 304 acres; (x) T. 4 N., R. 8 E., secs. 1 through 5, 7 through 30, and 33 through 35, Seward Meridian, comprising approximately 14,712.25 acres; and (xi) T. 4 N., R. 9 E., secs. 6, 7, 17, 18, and 19, Seward Meridian, comprising approximately 1,417 acres; and (C) the approximately 75,655.4 subsurface acres in which a conservation easement in the surface estate has been acquired by the United States pursuant to the Program, which comprises-- (i) T. 13 S., R. 2 W., secs. 33 and 34, Copper River Meridian, comprising approximately 1,131.75 acres; (ii) T. 14 S., R. 2 W., secs. 4 through 8, and 31, Copper River Meridian, comprising approximately 2,104.92 acres; (iii) T. 14 S., R. 3 W., secs. 12 through 16, 21 through 23, and 28 through 31, Copper River Meridian, comprising approximately 5,319.37 acres; (iv) T. 14 S., R. 3 W., secs. 6 through 8, and 17 through 20, Copper River Meridian, comprising approximately 3,899.44 acres; (v) T. 15 S., R. 3 W., secs. 8 and 9, and the southern part of sec. 13, Copper River Meridian, comprising approximately 125 acres; (vi) T. 16 S., R. 3 W., secs. 1, 11, 12, 14, and 15, Copper River Meridian, comprising approximately 506 acres; (vii) T. 14 S., R. 4 W., secs. 28 and 29, Copper River Meridian, comprising approximately 660.15 acres; (viii) T. 14 S., R. 4 W., secs. 1, 5 through 8, 10 through 15, 22 through 27, and 34 through 36, Copper River Meridian, comprising approximately 3,516 acres; (ix) T. 15 S., R. 5 W., secs. 27, 28, 33, and 34, Copper River Meridian, comprising approximately 1,455.63 acres; (x) T. 11 S., R. 6 W., secs. 25, 26, and 34 through 36, Copper River Meridian, comprising approximately 2,088.26 acres; (xi) T. 12 S., R. 6 W., secs. 1 through 3, 8 through 10, and 16 through 19, Copper River Meridian, comprising approximately 2,777.5 acres; (xii) T. 11 S., R. 7 W., sec. 31, Copper River Meridian, comprising approximately 577.8 acres; (xiii) T. 12 S., R. 7 W., sec. 5 through 7, 10 through 15, and 18 through 24, Copper River Meridian, comprising approximately 6,596.93 acres; (xiv) T. 13 S., R. 7 W., secs. 18 and 19, Copper River Meridian, comprising approximately 700 acres; (xv) T. 10 S., R. 8 W., secs. 33 and 34, Copper River Meridian, comprising approximately 1,197 acres; (xvi) T. 11 S., R. 8 W., secs. 1 through 4, 10 through 16, 21 through 26, 31, 35, and 36, Copper River Meridian, comprising approximately 7,647.41 acres; (xvii) T. 12 S., R. 8 W., secs. 1, 12 through 14, and 24, Copper River Meridian, comprising approximately 591.75 acres; (xviii) T. 12 S., R. 8 W., secs. 1 through 3, 10, 11, 14 through 16, 21 and 22, Copper River Meridian, comprising approximately 2,112 acres; (xix) T. 12 S., R. 8 W., secs. 5 through 8, 18, and 19, Copper River Meridian, comprising approximately 1,220.5 acres; (xx) T. 13 S., R. 8 W., secs. 13, 14, 17, 19 through 21, 23, 24, and 28 through 30, Copper River Meridian, comprising approximately 1,400 acres; (xxi) T. 11 S., R. 9 W., secs. 22, 23, 25, 26, 27, 34, 35, and 36, Copper River Meridian, comprising approximately 1,157.75 acres; (xxii) T. 12 S., R. 9 W., secs. 1 through 4, 9 through 15, 22, 23, 24, 26, and 27, Copper River Meridian, comprising approximately 6,445.71 acres; (xxiii) T. 13 S., R. 9 W., secs. 24 and 25, Copper River Meridian, comprising approximately 345.33 acres; (xxiv) T. 2 N., R. 7 E., sec. 1, Seward Meridian, comprising approximately 64.16 acres; (xxv) T. 3 N., R. 7 E., secs. 24, 25, and 36, Seward Meridian, comprising approximately 385.75 acres; (xxvi) T. 1 N., R. 8 E., secs. 11, 14, 15, 22, 23, 26, and 27, Seward Meridian, comprising approximately 1,667.65 acres; (xxvii) T. 2 N., R. 8 E., secs. 2 through 11, 26, 30, 31, 32, and 35, Seward Meridian, comprising approximately 4,339.84 acres; (xxviii) T. 3 N., R. 8 E., secs. 1 through 4, 8 through 11, 14 through 17, 19 through 23, and 26 through 35, Seward Meridian, comprising approximately 11,339.4 acres; (xxix) T. 4 N., R. 8 E., sec. 35, Seward Meridian, comprising approximately 1.5 acres; (xxx) T. 1 N., R. 9 E., secs. 1, 2, 11 through 14, and 24, Seward Meridian, comprising approximately 1,560.25 acres; and (xxxi) T. 1 N., R. 10 E., secs. 6, 7, 17 through 20, 29 and 30, Seward Meridian, comprising approximately 2,720.65 acres. (2) Management.--Land acquired by the Secretary under this subsection shall-- (A) become part of the unit of Federal land in which the land acquired by the Secretary is located; and (B) be administered in accordance with that unit of Federal land. SEC. 5. MAPS, ESTIMATES, AND DESCRIPTIONS. (a) Minor Errors.--The Secretary and Chugach Alaska may correct, by mutual agreement, any minor errors in any map, acreage estimate, or description of any land conveyed or exchanged under this Act. (b) Conflict.--If there is a conflict between a map, an acreage estimate, or a description of land in this Act, the map shall control unless the Secretary and Chugach Alaska mutually agree otherwise. <all>

usgpo

2024-06-24T00:12:30.119539

BILLS-118s4306is

Five AIs Act 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4306 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4306 To direct the Secretary of Defense to establish a working group to develop and coordinate an artificial intelligence initiative among the Five Eyes countries, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Ms. Rosen (for herself and Mr. Budd) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations _______________________________________________________________________ A BILL To direct the Secretary of Defense to establish a working group to develop and coordinate an artificial intelligence initiative among the Five Eyes countries, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Five AIs Act 2024''. SEC. 2. ESTABLISHMENT OF WORKING GROUP FOR ARTIFICIAL INTELLIGENCE INITIATIVE AMONG FIVE EYES COUNTRIES. (a) Establishment.--Not later than 90 days after the date of the enactment of this Act, the Secretary of Defense, in coordination with the Director of National Intelligence, shall establish a working group to be known as the ``Five AIs Strategic Artificial Intelligence Working Group'' (in this section referred to as the ``Working Group''). (b) Purpose.--The purpose of the Working Group shall be to develop and coordinate an artificial intelligence initiative among the Five Eyes countries. (c) Organization.-- (1) Designation of head.--The Secretary of Defense, in coordination with the Director of National Intelligence, shall designate a senior civilian officer of the Department of Defense or senior military officer with experience leading relevant efforts, as determined by the Secretary, to serve as the head of the Working Group. (2) Participation by other member countries.--The Secretary of Defense, in coordination with the Director of National Intelligence, shall encourage participation in the Working Group by the members of the Five Eyes Intelligence Oversight and Review Council. (d) Responsibilities.--The responsibilities of the Working Group shall be to develop and coordinate efforts to implement an artificial intelligence initiative between the Department of Defense, the Office of the Intelligence Community Inspector General of the United States, and the other members of the Five Eyes Intelligence Oversight and Review Council to-- (1) compare-- (A) the various artificial intelligence systems and the elements thereof (including machine learning and generative artificial intelligence such as large language models) used for covered operational uses by such members; and (B) the respective practices associated with the employment of such systems for covered operational uses by such members; (2) identify (including by experimenting, testing, and evaluating) potential solutions to advance and accelerate the interoperability of artificial intelligence systems used for intelligence sharing, battlespace awareness, and other covered operational uses; (3) test and evaluate the effects of artificial intelligence model redundancy, including the risks and safety measures associated with operating multiple artificial intelligence systems, including in tandem with one another; (4) develop a shared strategy for the research, development, test, evaluation, and employment of artificial intelligence systems for covered operational uses carried out jointly by the Five Eyes countries; (5) develop a shared strategy for-- (A) managing data-informed artificial intelligence systems; and (B) testing and evaluating artificial intelligence systems with combined data sets at the unclassified and classified levels; (6) test and evaluate the capabilities of the defense industrial base of the Five Eyes countries to incorporate artificial intelligence systems into systems used for covered operational uses; (7) compare and use ethical frameworks to accelerate technological advancements with respect to artificial intelligence systems; (8) expand innovation efforts by the Five Eyes countries and share among such countries best practices for the accelerated procurement and adoption of artificial intelligence technologies for covered operational uses; (9) leverage commercially available artificial intelligence technologies to advance near-term jointness between the armed forces and intelligence components of the Five Eyes countries; (10) jointly identify and source artificial intelligence systems, as practicable, and advise Five Eyes countries with respect to export controls applicable to such systems; (11) share, to the extent practicable and as agreed upon by the Working Group, the results, opportunities, and frameworks assessed or otherwise identified by the Working Group for the informed use of artificial intelligence with allies and partners of the United States other than Five Eyes countries; and (12) carry out such other activities as the Secretary of Defense, in consultation with the Director of National Intelligence and any members of the Five Eyes Intelligence Oversight and Review Council participating in the Working Group, determines to be relevant to such responsibilities. (e) Control of Knowledge and Technical Data.--The Secretary of Defense shall seek to ensure that any knowledge or technical data produced by a Five Eyes country under any cooperative project carried out by the Working Group shall be controlled by that country under the export control laws and regulations of that country and shall not be subject to the jurisdiction or control of any other Five Eyes country. (f) Plan and Reports.-- (1) Plan.-- (A) Submission.--Not later than 60 days after the date of the enactment of this Act, the Secretary of Defense, in coordination with the Director of National Intelligence, shall submit to the appropriate congressional committees a plan for the establishment and activities of the Working Group. (B) Elements.--The plan under subparagraph (A) shall include-- (i) a plan for the establishment of the Working Group, including for efforts to engage with the members of the Five Eyes Intelligence Oversight and Review Council with respect to such establishment; (ii) a description of any funding requirements or administrative support necessary to carry out this section; (iii) a description of any additional statutory authorities necessary to carry out this section; (iv) a plan for the fulfilment of responsibilities under subsection (c) by the Working Group; (v) an evaluation of existing joint efforts by the Five Eyes countries to fulfill similar responsibilities; (vi) a plan for the integration of the artificial intelligence initiative developed and coordinated by the Working Group with other programs and initiatives of the elements of the Department of Defense or the Office of Director of National Intelligence with responsibilities relating to mutual security and artificial intelligence efforts among the Five Eyes countries; (vii) performance indicators by which the activities of the Working Group will be assessed; and (viii) a description of how efforts of the commanders of the combatant commands relating to military interoperability and test and evaluation of artificial intelligence systems will be tasked and executed by and through the Working Group. (2) Biannual report.--Not later than 180 days after the date of the enactment of this Act, and on a semiannual basis thereafter until the date of termination under subsection (f), the Secretary of Defense shall submit to the appropriate congressional committees a report on the activities and milestones of the Working Group. Each such report shall include, with respect to the period covered by the report-- (A) an assessment of the activities of the Working Group based on the performance indicators set forth in the plan under paragraph (1)(B)(vii); and (B) a description of any efforts of the commanders of the combatant commands taken in support of the responsibilities of the Working Group. (g) Termination.-- (1) In general.--Except as provided in paragraph (2), the Working Group shall terminate on September 30, 2028. (2) Authority to extend.--The Secretary of Defense may extend the termination date under paragraph (1) if the Secretary determines such extension to be in the national security interests of the United States. (h) Definitions.--In this section: (1) The term ``appropriate congressional committees'' means-- (A) the congressional defense committees, as such term is defined in section 101 of title 10, United States Code; and (B) the congressional intelligence committees, as such term is defined in section 3 of the National Security Act of 1947 (50 U.S.C. 3003). (2) The term ``battlespace awareness'' has the meaning given that term in the Joint Publication 1-02 of the Department of Defense, titled ``Department of Defense Dictionary of Military and Associated Terms'', or successor publication. (3) The term ``covered operational use'' means use by a government for operations in a defense or intelligence context. (4) The term ``Five Eyes countries'' means the following: (A) Australia. (B) Canada. (C) New Zealand. (D) The United Kingdom. (E) The United States. (5) The term ``Five Eyes Intelligence Oversight and Review Council'' means the council established pursuant to the agreement entered into between the Inspector General of the Intelligence Community of the United States and the relevant foreign counterparts of the governments of the Five Eyes countries, titled ``Charter of the Five Eyes Intelligence Oversight and Review Council'', done on October 2, 2017. <all>

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2024-06-24T00:12:30.334763

BILLS-118s4301is

To grant States and Indian Tribes the authority to waive the 2-year foreign residence requirement for educators in rural and Tribal areas, and for other purposes.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4301 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4301 To grant States and Indian Tribes the authority to waive the 2-year foreign residence requirement for educators in rural and Tribal areas, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Thune (for himself, Mr. Heinrich, Mr. Rounds, and Mr. Lujan) introduced the following bill; which was read twice and referred to the Committee on the Judiciary _______________________________________________________________________ A BILL To grant States and Indian Tribes the authority to waive the 2-year foreign residence requirement for educators in rural and Tribal areas, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. MODIFICATION OF DEFINITIONS TO INCLUDE INDIAN TRIBES. Section 101(a) of the Immigration and Nationality Act (8 U.S.C. 1101(a)) is amended-- (1) in paragraph (36), by striking ``and the Commonwealth of the Northern Mariana Islands'' and inserting ``the Commonwealth of the Northern Mariana Islands, and each Indian Tribe''; and (2) by adding at the end the following: ``(53) The term `Indian Tribe' has the meaning given that term in section 4(e) of the Indian Self-Determination and Education Assistance Act (25 U.S.C. 5304(e)). ``(54) The terms `Tribal government' and `Tribal entity' mean the recognized governing body of an Indian Tribe. ``(55) The term `State educational agency' has the meaning given that term in section 8101(49) of the Elementary and Secondary Education Act of 1965 (20 U.S.C. 7801(49))''. SEC. 2. EXCHANGE VISITOR VISA EXTENSION FOR EDUCATORS IN RURAL AND TRIBAL AREAS. Section 214 of the Immigration and Nationality Act (8 U.S.C. 1184) is amended by adding at the end the following: ``(s)(1) If the Governor of a State or a Tribal government requests a waiver of the 2-year foreign residence requirement under section 212(e) on behalf of an alien described in clause (i) or (ii) of that section who is a primary or secondary school teacher or an education specialist in that State, the Secretary of Homeland Security may not grant such a waiver unless-- ``(A) in the case of an alien who is otherwise contractually obligated to return to a foreign country, the government of such country furnishes the Director of the United States Information Agency with a statement in writing that it has no objection to such waiver; ``(B) the grant of such waiver would not cause the number of waivers allotted for that State for that fiscal year to exceed 30; ``(C) the alien demonstrates a bona fide offer of full-time employment as a teacher or an education specialist at a primary or secondary school in a rural or Tribal area in that State; and ``(D)(i) in the case of a request made by a Governor, the alien agrees to begin employment with such a primary or secondary school not later than 90 days after receiving such waiver, and agrees to continue to work for a total of not less than 3 years (unless the Secretary of Homeland Security determines that extenuating circumstances exist, such as closure of the school or hardship to the alien, which would justify a lesser period of employment at the school, in which case the alien must demonstrate another bona fide offer of employment at a primary or secondary school for the remainder of such 3-year period), in rural and underserved area (as defined by the State educational agency); or ``(ii) in the case of a request made by a Tribal government, the alien-- ``(I) agrees to begin employment with such a primary or secondary school of an Indian Tribe, including any Bureau of Indian Education funded school operated pursuant to a grant under the Tribally Controlled Schools Act of 1988 (25 U.S.C. 2501 et seq.) or a contract under the Indian Self-Determination and Education Assistance Act (25 U.S.C. 5301 et seq.), not later than 90 days after receiving such waiver; and ``(II) agrees to continue to work for a total of not less than 3 years (unless the Secretary of Homeland Security determines that extenuating circumstances exist, such as closure of the school or hardship to the alien, which would justify a lesser period of employment at the school, in which case the alien must demonstrate another bona fide offer of employment at a primary or secondary school for the remainder of such 3-year period). ``(2)(A) Notwithstanding section 248(a)(2), the Secretary of Homeland Security may change the status of an alien who qualifies under this subsection and section 212(e) to that of an alien described in section 101(a)(15)(H)(i)(b). The numerical limitations contained in subsection (g)(1)(A) shall not apply to any alien whose status is changed pursuant to this subparagraph, if the alien obtained a waiver of the 2-year foreign residence requirement upon a request by an interested Federal agency or an interested State agency. ``(B) No person who has obtained a change of status under subparagraph (A) and who has failed to fulfill the terms of the contract with the primary or secondary school named in the waiver application shall be eligible to apply for an immigrant visa, for permanent residence, or for any other change of nonimmigrant status, until such person has resided and been physically present in the country of his or her nationality or his or her last residence for an aggregate of at least 2 years following his or here departure from the United States. ``(3) Notwithstanding any other provision of this subsection, the 2-year foreign residence requirement under section 212(e) shall apply with respect to an alien described in clause (i) or (ii) of such section who has not otherwise been accorded status under section 101(a)(27)(H), if at any time the alien ceases to comply with any agreement entered into under pursuant to paragraph (1)(C). ``(4) Any spouse or children of an alien granted a waiver under this subsection shall be included in such waiver. ``(5) In the case of a request submitted under paragraph (1) by a Tribal entity, the Governor of the State in which the Tribal entity is located may endorse such request.''. <all>

usgpo

2024-06-24T00:12:30.384866

BILLS-118hr8137ih

Patient Access to End of Life Care Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8137 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8137 To provide for an exception to the restrictions described in the Assisted Suicide Funding Restriction Act of 1997 with respect to certain States. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 26, 2024 Ms. Pettersen (for herself and Mr. Peters) introduced the following bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, the Judiciary, Education and the Workforce, Oversight and Accountability, Natural Resources, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To provide for an exception to the restrictions described in the Assisted Suicide Funding Restriction Act of 1997 with respect to certain States. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Patient Access to End of Life Care Act''. SEC. 2. FINDINGS. Congress finds the following: (1) Medical aid-in-dying is a medical practice in which a mentally capable, terminally ill adult with less than six months to live requests a prescription from their qualified clinician for medication to bring about a peaceful death to ingest at any point if their suffering becomes unbearable. (2) Medical aid-in-dying, an authorized medical practice, is not euthanasia, mercy killing, or assisted suicide. (3) Oregon was the first jurisdiction to authorize medical aid-in-dying through a 1994 ballot initiative. Oregon's Death With Dignity Act was officially implemented in 1997. (4) Subsequently, Congress passed the Assisted Suicide Funding Restriction Act of 1997 which, as Federal lawmakers interpret it, prevents any Federal money from being used to help terminally ill patients who want medical aid-in-dying, such as veterans and other vulnerable populations. (5) Since then, 11 jurisdictions have adopted medical aid- in-dying laws: California, Colorado, District of Columbia, Hawaii, Maine, Montana (via a State Supreme Court ruling), New Jersey, New Mexico, Oregon, Vermont, and Washington (1 in 5 residents of the United States). SEC. 3. EXCEPTION TO RESTRICTIONS DESCRIBED IN THE ASSISTED SUICIDE FUNDING RESTRICTION ACT OF 1997. Beginning January 1, 2025, in the case of a State that permits medical aid-in-dying programs (in accordance with the laws of such State), the restrictions described in the Assisted Suicide Funding Restriction Act of 1997 (Public Law 105-12) shall not apply to any information, referrals, guidance, or medical care provided consistent with such programs. <all>

usgpo

2024-06-24T00:12:30.530562

BILLS-118hr7736ih

Curbing Online Non-consensual Sexually Explicit Nudity Transfers Act; CONSENT Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 7736 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 7736 To establish a private right of action against a person who sends unsolicited visual depictions of sexually explicit conduct. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 20, 2024 Ms. McClellan (for herself and Mr. Moran) introduced the following bill; which was referred to the Committee on the Judiciary _______________________________________________________________________ A BILL To establish a private right of action against a person who sends unsolicited visual depictions of sexually explicit conduct. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Curbing Online Non-consensual Sexually Explicit Nudity Transfers Act'' or the ``CONSENT Act''. SEC. 2. TRANSMISSION OF UNSOLICITED VISUAL DEPICTIONS OF SEXUALLY EXPLICIT CONDUCT. (a) Definitions.-- (1) In general.--In this section: (A) Consent.--The term ``consent'' has the meaning given the term in section 1309 of the Violence Against Women Act Reauthorization Act of 2022 (15 U.S.C. 6851). (B) Machine-manipulated media.--The term ``machine- manipulated media'' means a video, image, or audio recording generated or substantially modified using machine-learning techniques in order to-- (i) falsely depict-- (I) an event; or (II) the speech or conduct of an individual; or (ii) depict an individual who does not exist. (C) Sexually explicit conduct.--The term ``sexually explicit conduct'' has the meaning given the term in section 2256(2)(B) of title 18, United States Code. (D) Third-party provider.--The term ``third-party provider'' means-- (i) a provider of an interactive computer service (as defined in section 230 of the Communications Act of 1934 (47 U.S.C. 230)); or (ii) any other entity that transmits, routes, or provides connections of electronic communications. (E) Visual depiction.--The term ``visual depiction''-- (i) has the meaning given the term in section 1466A of title 18, United States Code; and (ii) includes machine-manipulated media. (2) Rule of construction.--Notwithstanding the application of the terms ``sexually explicit conduct'' and ``visual depiction'' to only minors in chapter 110 and section 1466A, respectively, of title 18, United States Code, the applicability of those terms shall not be limited to minors for purposes of this section. (b) Civil Action.-- (1) Right of action.-- (A) Prohibition.--If an individual 18 years of age or older, or any person that is not an individual, (referred to in this subparagraph as the ``sender'') knowingly sends an individual (referred to in this subparagraph as the ``recipient'') a visual depiction of sexually explicit conduct, in or affecting interstate or foreign commerce or using any means or facility of interstate or foreign commerce, without the consent of the recipient, knowing that, or recklessly disregarding whether, the recipient has not provided consent to receive the visual depiction, the recipient may bring a civil action against the sender in an appropriate district court of the United States for relief under paragraph (2). (B) Rights on behalf of certain individuals.--If an individual who receives a visual depiction of sexually explicit conduct as described in subparagraph (A) is under 18 years of age, incompetent, or incapacitated, a legal guardian of the individual may bring a civil action under that subparagraph on behalf of the individual. (C) Privacy protection for minors.-- (i) In general.--If a civil action is brought under subparagraph (A) on behalf of an individual who is a minor when the complaint is filed or by an individual who was a minor when the acts giving rise to the civil action took place, the plaintiff may elect to use the plaintiff's initials in all filings with the court. (ii) Requirement.--If a plaintiff elects to proceed using the plaintiff's initials under clause (i), the court and each other party to the action shall use the plaintiff's initials in-- (I) any order, filing, or other such document; and (II) any proceeding that is transcribed by a court reporter. (D) Exceptions.--A civil action under subparagraph (A) may not be brought against-- (i) a third-party provider, to the extent that the provider is transmitting, routing, or providing connections of electronic communications initiated by or at the direction of another person; (ii) a person who sends a visual depiction for a good faith medical, educational, or law enforcement purpose; or (iii) a person who lawfully publishes a visual depiction of sexually explicit conduct on a website that requires users to be not less than 18 years of age. (2) Relief.--In a civil action brought under paragraph (1), an individual may obtain-- (A) either-- (i) statutory damages of not more than $500; or (ii) compensatory damages for emotional distress; (B) reasonable attorney fees and costs; and (C) a temporary restraining order, a preliminary injunction, or a permanent injunction ordering the defendant to cease sending visual depictions of sexually explicit conduct to the plaintiff without consent. (3) Relation to criminal laws.--Nothing in this subsection shall be construed to modify, impair, or supersede any provision of criminal law. (c) Severability.--If any provision of this section, or the application of such provision to any person or circumstance, is held to be unconstitutional, the remainder of this section, and the application of the provision to any other person or circumstance, shall not be affected. <all>

usgpo

2024-06-24T00:12:30.761336

BILLS-118s4303is

Baby Food Safety Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4303 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4303 To amend the Federal Food, Drug, and Cosmetic Act to ensure the safety of food and limit the presence of contaminants in infant and toddler food, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Ms. Klobuchar (for herself and Ms. Duckworth) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and Pensions _______________________________________________________________________ A BILL To amend the Federal Food, Drug, and Cosmetic Act to ensure the safety of food and limit the presence of contaminants in infant and toddler food, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Baby Food Safety Act of 2024''. SEC. 2. DEFINITION OF INFANT AND TODDLER FOOD. Section 201 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 321) is amended by adding at the end the following: ``(tt) The term `infant and toddler food' means food that purports to be, or is represented as being, specifically for infants or children up to the age of 24 months.''. SEC. 3. CONTAMINANTS IN FOOD, INCLUDING INFANT AND TODDLER FOOD. (a) In General.--Chapter IV of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 341 et seq.) is amended by adding at the end the following: ``SEC. 425. CONTAMINANTS IN FOOD, INCLUDING INFANT AND TODDLER FOOD. ``(a) Administrative Orders for Contaminants in Food.-- ``(1) In general.--Within the applicable timeframe specified in paragraph (4), the Secretary, by administrative order-- ``(A) shall establish limits on-- ``(i) lead, cadmium, mercury, and total arsenic in infant and toddler food; ``(ii) lead, cadmium, mercury, and total arsenic in food pouches made with fruit or vegetable puree or juice; and ``(iii) lead and arsenic in juice; and ``(B) if the Secretary determines appropriate upon review of relevant health data and other relevant available information, may-- ``(i) establish limits for additional contaminants in infant and toddler food; ``(ii) establish limits for additional contaminants in juice; ``(iii) establish limits for additional contaminants in food pouches made with fruit or vegetable puree or juice; and ``(iv) revise limits established pursuant to subparagraph (A). ``(2) Procedure.--In establishing or revising any limit under paragraph (1), the Secretary shall-- ``(A) evaluate relevant health data and other information the Secretary considers relevant; ``(B) take into account relevant differences among food types, groups, and categories, as appropriate, including the extent to which the presence of a contaminant cannot be avoided; and ``(C) notwithstanding the requirements of subchapter II of chapter 5 of title 5, United States Code, and chapter 6 of title 5, United States Code-- ``(i) publish any administrative order under paragraph (1) in the Federal Register following-- ``(I) publication of a proposed order in the Federal Register; and ``(II) consideration of comments to a public docket open for not fewer than 45 calendar days; and ``(ii) set forth in any proposed or final administrative order under paragraph (1) a substantive summary of the valid scientific evidence concerning the proposed or final limit. ``(3) Additional contaminants; changes to limits.--If the Secretary determines appropriate after review of relevant data and available health information, the Secretary may revise any limit established under this subsection by administrative order published in the Federal Register in accordance with paragraph (2)(C). ``(4) Timeframe for initial limits.-- ``(A) Proposed orders.--Subject to the requirements of paragraph (2)(C), the Secretary shall issue proposed orders for limits under paragraph (1)(A) as follows: ``(i) For lead, not later than December 31, 2025. ``(ii) For total arsenic, not later than December 31, 2025. ``(iii) For cadmium, not later than April 30, 2026. ``(iv) For mercury, not later than April 30, 2028. ``(B) Final orders.--The Secretary shall issue each final administrative order for a limit established pursuant to paragraph (1)(A) not later than the earlier of-- ``(i) the applicable deadline for a final order specified in paragraph (1); or ``(ii) 18 months after issuance of the respective proposed order. ``(5) Criteria.--The limits established under this section shall represent the level at which the Secretary finds necessary for the protection of public health. In determining such limits the Secretary shall take into account the extent to which the use of such substance is required or cannot be avoided in the production of each such article, and the other ways in which a consumer may be affected by the same or other contaminants, taking into consideration relevant information and data that has been made available. ``(6) Adulterated food.--A food may be determined adulterated, at the final product stage, under section 402(j), if such food bears or contains any contaminant in excess of a limit established under this subsection when considering variability of the validated method of analysis. ``(7) Periodic review.--The Secretary shall periodically review the limits established under this subsection, taking into consideration relevant information and available data to consider whether such limits should be revised, following the procedure described in paragraph (2), in accordance with the criteria specified in paragraph (5). ``(b) Sampling and Testing for Contaminants in Food, Including Infant and Toddler Food.-- ``(1) In general.--Beginning not later than 180 days after the date of enactment of the Baby Food Safety Act of 2024, the owner, operator, or agent in charge of a facility engaged in manufacturing or processing infant and toddler food, food pouches made with fruit or vegetable puree or juice, or juice for consumption in the United States shall-- ``(A) have a control program pursuant to section 418 in place for contaminants subject to ordered limits under subsection (a), or be in compliance with the Juice Hazard Analysis Critical Control Points Program of the Food and Drug Administration, as applicable; ``(B) be in compliance with regulations promulgated under section 420(b); ``(C) collect representative samples of each such food in final product form in accordance with a sampling plan described in paragraph (2); and ``(D) conduct testing of the samples collected from the final food product for contaminants, in accordance with such sampling plan. ``(2) Requirements for sampling plan.-- ``(A) In general.--The owner, operator, or agent in charge of a facility described in paragraph (1) shall-- ``(i) prepare a written sampling plan for all sampling and testing required under this subsection; and ``(ii) ensure that all sampling and testing conducted under this subsection is conducted in accordance with the sampling plan. ``(B) Sampling plan.--A sampling plan required by subparagraph (A) shall identify-- ``(i) the number of sampling units and sample unit size based upon appropriate criteria for identifying, in a representative fashion, the levels of contaminants in each food; and ``(ii) one or more appropriate test methods and procedures to be used to analyze the samples. ``(C) Guidance.--Not later than 18 months after the date of enactment of the Baby Food Safety Act of 2024, the Secretary shall issue guidance to assist facilities described under paragraph (1) with developing sampling plans. Such guidance may, as the Secretary determines appropriate, address when samples should be tested for specific species of contaminants. ``(3) Contaminants to be tested.--In carrying out the sampling and testing under this subsection, the owner, operator, or agent in charge of a facility described in paragraph (1) shall ensure that each sample is tested for levels of-- ``(A) lead, cadmium, mercury, and total arsenic; ``(B) any other contaminant that the Secretary may specify by regulation, and in accordance with the sampling plan under paragraph (2). ``(4) Foods to be tested.--The sampling and testing conducted under this subsection shall be conducted for-- ``(A) infant and toddler foods, in final product form; ``(B) pouches made with fruit and vegetable puree or juice; ``(C) juice; and ``(D) such other foods in final product form as the Secretary may specify, by regulation, as appropriate to protect the public health. ``(5) Recordkeeping.-- ``(A) In general.--The owner, operator, or agent in charge of a facility described in paragraph (1) shall maintain, for not less than 2 years or the shelf-life of each food product manufactured or processed by the facility, whichever is longer, records documenting the sampling plan and results of testing conducted under this subsection with respect to the food. The owner, operator, or agent in charge of such a facility shall make such records available for inspection by the Secretary upon request by the Secretary. ``(B) Requirements.--The records maintained as required under subparagraph (A) shall include-- ``(i) a detailed description of the foods sampled and tested; ``(ii) the number of samples and tests performed; ``(iii) the size and number of items in each sample unit; ``(iv) a copy of the sampling plan required under paragraph (2); ``(v) identification of the entity conducting the sampling; ``(vi) identification of the entity conducting the testing; and ``(vii) identification of the analytical methods used to perform the sampling and testing. ``(C) Applicability.--The requirements of this paragraph shall apply to all records of sampling and testing conducted pursuant to this subsection, regardless of the findings. ``(6) Laboratory accreditation.--The owner, operator, or agent in charge of a facility described in paragraph (1) shall ensure that testing required pursuant to this subsection is performed in accordance with international standards by a laboratory that is accredited by an accreditation body that conforms to international accreditation standards. Testing conducted under this subsection is not subject to the requirements regarding laboratory accreditation described in section 422. ``(7) Sampling and testing program.--The Secretary shall develop and implement a sampling and testing program for infant and toddler food for sale to consumers that is sufficient to-- ``(A) support the periodic review under subsection (a)(7) of limits on lead, cadmium, mercury, and arsenic in infant and toddler food; and ``(B) independently verify the effectiveness of the sampling and testing conducted pursuant to this subsection by the owner, operator, or agent in charge of a food facility. ``(8) Guidance.--The Secretary shall issue guidance to assist food facilities in complying with this subsection. ``(c) Record Availability.-- ``(1) In general.--Upon request by the Secretary, the owner, operator, or agent in charge of a facility described in subsection (b)(1) shall-- ``(A) make all records required under this section available promptly to the Secretary for inspection and copying; and ``(B) provide within a reasonable time an English translation of such records maintained in a language other than English. ``(2) Record availability in lieu of an inspection.--Any records that the Secretary may inspect under this section shall, upon the request of the Secretary, be provided to the Secretary by the owner, operator, or agent in charge of a facility described in subsection (b)(1), in advance of or in lieu of an inspection, within a reasonable timeframe, within reasonable limits, and in a reasonable manner, and in either electronic or physical form, at the expense of such owner, operator, or agent. The Secretary's request shall include a sufficient description of the records requested. ``(3) Confirmation.--Upon receipt of records requested under paragraph (1) or (2), the Secretary shall provide to the owner, operator, or agent described in paragraph (2) confirmation of the receipt. ``(4) Authority of the secretary.--Nothing in this subsection supplants the authority of the Secretary to conduct sampling, testing, or inspections otherwise permitted under this Act in order to ensure compliance with this Act. ``(d) Delayed Applicability.--The requirements for sampling and testing under this section shall apply beginning on the date that is 2 years after the date of enactment of this subsection. ``(e) Preemption of State and Local Requirements Regarding Food Ingredients and Contaminants in Food, Including Infant and Toddler Food.--No State or political subdivision of a State may establish or continue in effect with respect to contaminants in food, including infant and toddler food, food pouches made with fruit or vegetable puree or juice, and juice, any requirement that is different from, or in addition to, or not identical with any requirement under this section, and relates to contaminant sampling and testing, contaminant limits, disclosure of contaminant test results, contaminant labeling, contaminant warnings, or any other matter related to contaminants in food.''. (b) Importer Requirements.--Section 805(c)(4) of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 384a(c)(4)) is amended, by inserting ``, including as described in section 425(b)'' before the period at the end. (c) Enforcement.-- (1) Adulteration.--Section 402 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 342) is amended by adding at the end the following: ``(j) If it is an article of food in final product form that is an infant and toddler food, a food pouch made with fruit or vegetable puree or juice, or juice and-- ``(1) such food bears or contains any contaminant in excess of limits established under section 425(a); or ``(2) the owner, operator, or agent in charge of a facility that manufactures or processes the food is not in compliance with subsection (b) or (c) of section 425.''. (2) Prohibited act.--Section 301 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 331) is amended by adding at the end the following: ``(jjj) The failure of an owner, operator, or agent in charge of a facility that manufactures or processes food to comply with applicable requirements under subsection (b) or (c) of section 425.''. SEC. 4. IMPLEMENTATION OF FOOD TRACEABILITY PLAN; STUDY ON INSPECTIONS; REPORTING ON INSPECTIONS. (a) Implementation Plan.--The Secretary of Health and Human Services (referred to in this section as the ``Secretary''), acting through the Commissioner of Food and Drugs, in coordination with the FDA Human Foods Program and the Center for Food Safety and Applied Nutrition, shall finalize an implementation plan for the Food and Drug Administration to achieve its goal of compliance, not later than January 20, 2026, with the rule issued by the Food and Drug Administration titled, ``Requirements for Additional Traceability Records for Certain Foods'' (87 Fed. Reg. 70910 (November 21, 2022)). Such plan shall include a description of-- (1) any resource needs of the Food and Drug Administration; (2) strategies for facilitating compliance with the rule; and (3) detailed plans for communicating with and educating regulated entities, non-Federal regulatory partners, and regulatory staff of the Food and Drug Administration about the requirements under the rule. (b) Study on Inspections.--The Secretary shall-- (1) conduct a study to-- (A) determine the annual number of facility inspections that is sufficient to determine that imported foods are held to the same safety standards as domestic food; and (B) identify whether such inspection targets are consistent with the targets in the most recent annual report regarding food conducted under section 1003(h) of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 393(h)); and (2) not later than 1 year after the date of enactment of this Act, submit a report to Congress on the findings of such study, and, if applicable, any factors preventing the Secretary from meeting its goal for the number of inspections and a plan to ensure that such goal is met in the next 2 years. (c) Annual Report Regarding Food.--Section 1003(h)(1) of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 393(h)(1)) is amended-- (1) in subparagraph (E), by striking ``and'' at the end; (2) in subparagraph (F), by striking the period and inserting ``; and''; and (3) by adding at the end the following: ``(G) the nature of domestic facility and foreign facility inspections described in subparagraph (C), the aggregate inspection findings of such inspections, and the compliance rate of foreign food importers with certification standards;''. SEC. 5. RECORDS FOR OR IN LIEU OF CERTAIN INSPECTIONS. Section 704(a)(4) of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 374(a)(4)) is amended-- (1) by redesignating subparagraphs (B) through (D) as subparagraphs (C) through (E), respectively; (2) by inserting after subparagraph (A) the following new subparagraph: ``(B)(i) Any records or other information that the Secretary may inspect under authority of this Act from a person that owns or operates, or is an agent in charge of, an establishment that is engaged in any of the activities described in clause (ii) shall, upon the request of the Secretary, be provided to the Secretary by such person, in advance of or in lieu of an inspection, within a reasonable timeframe, within reasonable limits, and in a reasonable manner, and in either electronic or physical form, at the expense of such person. The Secretary's request shall include a sufficient description of the records requested. ``(ii) The activities described in this clause are records relating to-- ``(I) the manufacturing, processing, packing, transporting, distributing, receiving, holding, or importing of an article of food; or ``(II) the distribution or use of animal feed bearing or containing a veterinary feed directive drug, or the issuance of a veterinary feed directive.''; and (3) by adding at the end the following: ``(F) Section 703 does not apply to records or other information obtained pursuant to a request made under this section.''. SEC. 6. MANDATORY RECALL AUTHORITY. Section 423(a) of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 350l(a)) is amended by inserting after ``animals,'' the following: ``or if the Secretary determines through any means that an article of infant and toddler food (other than infant formula) bears or contains a contaminant that renders the product adulterated under section 402(a)(1),''. SEC. 7. ENVIRONMENTAL MONITORING. Chapter IV of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 341 et seq.), as amended by section 3, is further amended by adding the following: ``SEC. 426. ENVIRONMENTAL MONITORING OF INFANT AND TODDLER FOOD. ``(a) In General.--A manufacturer of infant and toddler food shall establish and implement an environmental monitoring program to verify the effectiveness of sanitation and hygiene controls where the food has the potential to be exposed to environment pathogens during the manufacturing and packing process. The environmental monitoring program shall be written and include procedures for determining sample location, number of samples to be taken, and timing and frequency of sample collection and testing. ``(b) Organisms Sampled.--The environmental monitoring program under subsection (a) shall include testing for environmental pathogens, lead, arsenic, mercury, or a reliable indicator organism. ``(c) Sampling Location and Number of Samples.--A manufacturer of infant and toddler food shall ensure that the sampling locations from which samples will be taken, and the number of sites to be tested during routine environmental monitoring are adequate to determine whether sanitation and hygiene controls are effective. ``(d) Timing and Frequency.--The timing and frequency for collecting and testing samples shall be adequate to determine whether sanitation and hygiene controls are effective. ``(e) Records.-- ``(1) Availability to the secretary.--A manufacturer shall make all the records required under this section available promptly to the Secretary, upon request, for inspection and copying. ``(2) Maintenance.--Records of environmental monitoring conducted pursuant to this section shall be established and maintained by the manufacturer for not less than 2 years or the shelf-life of the food, whichever is longer. ``(3) Conditions of inspection.--Any records that the Secretary may inspect under this section shall, upon the request of the Secretary, be provided to the Secretary by the manufacturer, in advance of or in lieu of an inspection, within a reasonable timeframe, within reasonable limits, and in a reasonable manner, and in either electronic or physical form, at the expense of such manufacturer. The Secretary's request shall include a sufficient description of the records requested. ``(4) Confirmation of receipt.--Upon receipt of the records requested under paragraph (3), the Secretary shall provide to the manufacturer confirmation of receipt. ``(f) Authority of the Secretary.--Nothing in this section supplants the authority of the Secretary to conduct inspections otherwise permitted under this Act in order to ensure compliance with this Act. ``(g) Effective Date.--The requirements of this section shall apply beginning on the date that is 2 years after the date of enactment of the Baby Food Safety Act of 2024. ``(h) Rule of Construction.--Nothing in this section shall be construed to exempt any manufacturer from the requirements of this Act, including the requirements under section 418.''. <all>

usgpo

2024-06-24T00:12:30.845166

BILLS-118s4300is

United States Call Center Worker and Consumer Protection Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4300 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4300 To require the Secretary of Labor to maintain a publicly available list of all employers that relocate a call center or contract call center work overseas, to make such companies ineligible for Federal grants or guaranteed loans, and to require disclosure of the physical location of business agents engaging in customer service communications, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 9, 2024 Mr. Casey (for himself, Ms. Baldwin, Mr. Blumenthal, Ms. Butler, Mr. Cardin, Mr. Durbin, Mr. Fetterman, Mrs. Gillibrand, Ms. Hassan, Mr. Markey, Mr. Merkley, Mr. Padilla, Mr. Peters, Ms. Rosen, Mr. Sanders, Ms. Stabenow, Mr. Van Hollen, and Ms. Warren) introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation _______________________________________________________________________ A BILL To require the Secretary of Labor to maintain a publicly available list of all employers that relocate a call center or contract call center work overseas, to make such companies ineligible for Federal grants or guaranteed loans, and to require disclosure of the physical location of business agents engaging in customer service communications, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) Short Title.--This Act may be cited as the ``United States Call Center Worker and Consumer Protection Act of 2024''. (b) Table of Contents.--The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. Definitions. TITLE I--CONSEQUENCES FOR RELOCATING OR CONTRACTING OUT CALL CENTER WORK OVERSEAS Sec. 101. List of call centers relocating or contracting call center work overseas and ineligibility for grants or guaranteed loans. Sec. 102. Rule of construction related to Federal benefits for workers. Sec. 103. Report regarding Federal call center work locations. Sec. 104. Requirement that call center work under a Federal contract be performed inside the United States. TITLE II--REQUIRED DISCLOSURE OF PHYSICAL LOCATIONS IN CUSTOMER SERVICE COMMUNICATIONS Sec. 201. Required disclosure by business entities engaged in customer service communications of physical location. Sec. 202. Enforcement. SEC. 2. DEFINITIONS. In this Act: (1) Agency.--The term ``agency'' means a Federal or State executive agency or a military department. (2) Business entity.--The term ``business entity'' means any organization, corporation, trust, partnership, sole proprietorship, unincorporated association, or venture established to make a profit, in whole or in part, by purposefully availing itself of the privilege of conducting commerce in the United States. (3) Call center.--The term ``call center'' means a facility or other operation whereby employees receive incoming telephone calls, emails, or other electronic communication for the purpose of providing customer assistance or other service. (4) Consumer.--The term ``consumer'' means any individual within the territorial jurisdiction of the United States who purchases, transacts, or contracts for the purchase or transaction of any goods, merchandise, or services, not for resale in the ordinary course of the individual's trade or business, but for the individual's use or that of a member of the individual's household. (5) Contracting call center work overseas.--The term ``contracting call center work overseas'' means transferring the work of a call center, or of one or more facilities or operating units within a call center comprising at least 30 percent of the total volume of the call center or operating unit when measured against the previous 12-month average call volume of operations or substantially similar operations, through a contract or other agreement to another entity who will perform that work outside of the United States. (6) Customer service communication.--The term ``customer service communication'' means any telecommunication or wire communication between a consumer and a business entity in furtherance of commerce. (7) Employer.--The term ``employer'' means any business enterprise that employs in a call center-- (A) 50 or more employees, excluding part-time employees; or (B) 50 or more employees who in the aggregate work at least 1,500 hours per week (exclusive of hours of overtime). (8) Part-time employee.--The term ``part-time employee'' means an employee who is employed for an average of fewer than 20 hours per week or who has been employed for fewer than 6 of the 12 months preceding the date on which notice is required. (9) Relocating and relocation.--The terms ``relocating'' and ``relocation'' refer to the closure of a call center, or the cessation of operations of a call center, or one or more facilities or operating units within a call center comprising at least 30 percent of the total volume of the call center or operating unit, when measured against the previous 12-month average call volume of operations or substantially similar operations, and the transferring of the operations of the call center (or facilities or operating units) to another location outside of the United States. (10) Secretary.--The term ``Secretary'' means the Secretary of Labor. (11) Telecommunication.--The term ``telecommunication'' means the transmission, between or among points specified by the communicator, of information of the communicator's choosing, without change in the form or content of the information as sent and received. (12) Wire communication.--The term ``wire communication'' means the transmission of writing, signs, signals, pictures, and sounds of all kinds by aid of wire, cable, or other like connection between the points of origin and reception of such transmission, including all instrumentalities, facilities, apparatus, and services (among other things, the receipt, forwarding, and delivery of communications) incidental to such transmission. TITLE I--CONSEQUENCES FOR RELOCATING OR CONTRACTING OUT CALL CENTER WORK OVERSEAS SEC. 101. LIST OF CALL CENTERS RELOCATING OR CONTRACTING CALL CENTER WORK OVERSEAS AND INELIGIBILITY FOR GRANTS OR GUARANTEED LOANS. (a) List.-- (1) Notice requirement.-- (A) In general.--Not fewer than 120 days before relocating a call center outside of the United States, or contracting call center work overseas, an employer shall notify the Secretary of such relocation or contracting. (B) Penalty.--A person who violates subparagraph (A) shall be subject to a civil penalty not to exceed $10,000 for each day of violation. (2) Establishment and maintenance of list.-- (A) In general.--The Secretary shall establish, maintain, and make available to the public a list of all employers who relocate a call center or contract call center work overseas, as described in paragraph (1)(A). (B) Term.--Each employer included in the list required by subparagraph (A) shall remain on the list for a period not to exceed 5 years after each instance of relocating a call center or contracting call center work overseas. (C) Removal.--The Secretary may remove an employer from the list required by subparagraph (A) if the Secretary determines that-- (i)(I) the employer has relocated a call center from a location outside of the United States to a location in the United States; and (II) the new call center in the United States employs a number of employees equal to or greater than the number of employees who worked at the original call center that was relocated to a location outside of the United States; or (ii) in the case of an employer who contracted call center work overseas, the employer demonstrates that the contract or agreement has been amended to require that all employees performing call center work under the contract or agreement will be located in the United States. (b) Ineligibility for Grants or Guaranteed Loans.-- (1) Ineligibility.--Except as provided in paragraph (2) and notwithstanding any other provision of law, an employer who appears on the list required by subsection (a)(2)(A) shall be ineligible for any direct or indirect Federal grants or Federal guaranteed loans for 5 years after the date such employer was added to the list. (2) Exceptions.--The Secretary, in consultation with the appropriate agency providing a loan or grant, may waive the eligibility restriction provided under paragraph (1) if the employer applying for such loan or grant demonstrates that a lack of such loan or grant would-- (A) threaten national security; (B) result in substantial job loss in the United States; or (C) harm the environment. (c) Preference in Federal Contracting for Not Relocating or Contracting Call Center Work Overseas.--The head of an agency, when awarding a civilian or defense-related Federal contract, shall give preference to a United States employer that does not appear on the list required by subsection (a)(2)(A). (d) Effective Date.--This section shall take effect on the date that is 1 year after the date of the enactment of this Act. SEC. 102. RULE OF CONSTRUCTION RELATED TO FEDERAL BENEFITS FOR WORKERS. No provision of this title shall be construed to permit withholding or denial of payments, compensation, or benefits under any provision of Federal law (including Federal unemployment compensation, disability payments, or worker retraining or readjustment funds) to workers employed by employers that relocate operations outside the United States. SEC. 103. REPORT REGARDING FEDERAL CALL CENTER WORK LOCATIONS. By not later than 1 year after the date of enactment of this Act, the Secretary of Labor shall prepare and submit to Congress a report that documents the location, and amount, of call center work conducted by or for the Federal Government, including-- (1) a determination of the amount of such Federal call center work that is conducted by Federal employees, and the amount conducted by Federal contractors; and (2) all locations at which such Federal call center work is being conducted, whether by Federal employees or through Federal contracts. SEC. 104. REQUIREMENT THAT CALL CENTER WORK UNDER A FEDERAL CONTRACT BE PERFORMED INSIDE THE UNITED STATES. The head of an agency, when awarding a civilian or defense-related Federal contract, shall require as a condition of the contract that any call center work performed in connection with the contract or any subcontract under the contract shall be performed inside the United States. TITLE II--REQUIRED DISCLOSURE OF PHYSICAL LOCATIONS IN CUSTOMER SERVICE COMMUNICATIONS SEC. 201. REQUIRED DISCLOSURE BY BUSINESS ENTITIES ENGAGED IN CUSTOMER SERVICE COMMUNICATIONS OF PHYSICAL LOCATION. (a) In General.--Except as provided in subsection (b), a business entity that either initiates or receives a customer service communication shall require that each of its employees or agents participating in the communication disclose their physical location at the beginning of each customer service communication so initiated or received. (b) Exceptions.-- (1) Business entities located in the united states.--The requirements of subsection (a) shall not apply to a customer service communication involving a business entity if all of the employees or agents of the business entity participating in such communication are physically located in the United States. (2) Communication initiated by consumer knowingly to foreign entity or address.--The requirements of subsection (a) shall not apply to an employee or agent of a business entity participating in a customer service communication with a consumer if-- (A) the customer service communication was initiated by the consumer; (B) the employee or agent is physically located outside the United States; and (C) the consumer knows or reasonably should know that the employee or agent is physically located outside the United States. (3) Emergency services.--The requirements of subsection (a) shall not apply to a customer service communication relating to the provision of emergency services (as defined by the Federal Trade Commission). (4) Business entities and customer service communications excluded by federal trade commission.--The Federal Trade Commission may exclude certain classes or types of business entities or customer service communications from the requirements of subsection (a) if the Commission finds exceptionally compelling circumstances that justify such exclusion. (c) Transfer to U.S.-Based Customer Service Center.--A business entity that is subject to the requirements of subsection (a) shall, at the request of a customer, transfer the customer to a customer service agent who is physically located in the United States. (d) Certification Requirement.--Each year, each business entity that participates in a customer service communication shall certify to the Federal Trade Commission that it has complied or failed to comply with the requirements of subsections (a) and (c). (e) Regulations.--Not later than 1 year after the date of the enactment of this Act, the Federal Trade Commission shall promulgate such regulations as may be necessary to carry out the provisions of this section. (f) Effective Date.--The requirements of subsection (a) shall apply with respect to customer service communications occurring on or after the date that is 1 year after the date of the enactment of this Act. SEC. 202. ENFORCEMENT. (a) In General.--Any failure to comply with the provisions of section 201 shall be treated as a violation of a regulation under section 18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C. 57a(a)(1)(B)) regarding unfair or deceptive acts or practices. (b) Powers of Federal Trade Commission.-- (1) In general.--The Federal Trade Commission shall prevent any person from violating section 201 and any regulation promulgated thereunder, in the same manner, by the same means, and with the same jurisdiction, powers, and duties as though all applicable terms and provisions of the Federal Trade Commission Act (15 U.S.C. 41 et seq.) were incorporated into and made a part of this Act. (2) Penalties.--Any person who violates regulations promulgated under section 201 shall be subject to the penalties and entitled to the privileges and immunities provided in the Federal Trade Commission Act in the same manner, by the same means, and with the same jurisdiction, power, and duties as though all applicable terms and provisions of the Federal Trade Commission Act were incorporated into and made part of this Act. (c) Authority Preserved.--Nothing in this section or section 201 shall be construed to limit the authority of the Federal Trade Commission under any other provision of law. <all>

usgpo

2024-06-24T00:12:30.860852

DCPD-202400490

Proclamation 10774-National Day of Remembrance of the 80th Anniversary of D-Day

Administration of Joseph R. Biden, Jr., 2024 June 5, 2024 By the President of the United States of America A Proclamation On the evening of June 6, 1944, President Franklin D. Roosevelt broadcast a prayer for the Nation. At the time, war was raging in Europe, and Hitler controlled most of it. Freedom and democracy were under assault around the world. But on that day, hope had landed on the beaches of Normandy when 73,000 Americans joined the Allied forces to carry out one of the greatest military missions of all time—a mission that would become known as D-Day. Knowing the fate of the free world rested in their hands, President Roosevelt asked our Nation to pray for these courageous service members' strength as they "set upon a mighty endeavor, a struggle to preserve our Republic, our religion, and our civilization, and to set free a suffering humanity." On the 80th anniversary of D-Day, may we thank these service members for their bravery and sacrifice. May we honor their heroism, which liberated a continent and saved the world. And may we recommit to the future they fought and which many died for. The brave Airmen, Coast Guardsmen, Sailors, Soldiers, and Marines who fought on D-Day faced unparalleled resistance. Nazi Germany had reinforced the Atlantic Wall, lining miles of dangerous cliffs and rocky coastlines with landmines, beach and water obstacles, and machine gunners while also reinforcing its bunkers. So, when 7,000 vessels carrying nearly 160,000 service members from eight Allied countries approached Normandy, victory was never guaranteed. Our paratroopers that jumped behind enemy lines in the night and other military forces had to endure barrages of gunfire, trek through barbed wire, and climb steep sea walls. Over 2,500 Americans made the ultimate sacrifice, giving their lives so that the whole world might know freedom. Today, we remember all the Americans who laid down their lives on D-Day to help end the tyranny of fascism across Europe, liberate oppressed peoples, and ensure the flame of liberty would burn bright around the world. Their success marked the beginning of the end of Nazi brutality, World War II, and the Holocaust—one of the darkest chapters in human history. It set the foundations of an enduring peace that still helps guide international cooperation and affairs today. We owe these service members, who represent the greatest of the Greatest Generation, as well as their families a debt of gratitude that we can never fully repay. As we reflect on the sacrifices made on D-Day, we are reminded that freedom is not free and it has never been guaranteed. Every generation has to earn it, fight for it, and defend it in the battle between autocracy and democracy—between the greed of a few and the rights of many. Eighty years after our Nation's brave Airmen, Coast Guardsmen, Sailors, Soldiers, and Marines embarked on D-Day—and as Americans everywhere answered the call to prayer and filled their hearts and homes with hope—may we honor the faith they kept in our Nation and their legacy by upholding the future that they died for—one grounded in freedom, democracy, opportunity, and equality for all. Now, Therefore, I, Joseph R. Biden Jr., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim June 6, 2024, as a National Day of Remembrance of the 80th Anniversary of D-Day. I call upon all Americans to observe this day with programs, ceremonies, and activities that honor those who fought and died so that men and women they had never met might know what it is to be free. In Witness Whereof, I have hereunto set my hand this fifth day of June, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-eighth. Joseph R. Biden, Jr. [Filed with the Office of the Federal Register, 8:45 a.m., June 10, 2024] NOTE: This proclamation was published in the *Federal Register *on June 11. Categories: Proclamations : National Day of Remembrance of the 80th Anniversary of D-Day. Subjects: Day of Remembrance of the 80th Anniversary of D-Day, National; U.S. servicemembers, service and dedication. DCPD Number: DCPD202400490.

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2024-06-24T00:12:31.365425

DCPD-202400497

Proclamation 10775-Flag Day and National Flag Week, 2024

Administration of Joseph R. Biden, Jr., 2024 June 7, 2024 By the President of the United States of America A Proclamation For people across America, our flag is a reminder of our Nation's founding principle. It stands for the sacred idea that we are all created equal and deserve to be treated equally throughout our lives. Our flag is also a reminder of our shared calling: to stand for the ideals our country was founded on—democracy, freedom, and justice for all. On Flag Day and during National Flag Week, we take pride in the promise and purpose represented by our Nation's flag. Our country's flag was created in 1777, when America was still a new idea. Americans flew it at their homes during the Revolutionary War as brave troops fought for our country's independence from British rule—representing the resolve and resilience of our Nation's 13 colonies with 13 stripes and stars. As our Nation evolved, so too did our flag—with every new star added to Old Glory, we were reminded that the work of forging a more perfect Union never ends. Ever since, our flag has served as a source of pride and inspiration. It has flown high on many battlefields, acting as a beacon of light and purpose at home and around the globe. It flies over military cemeteries where our country's service members have been laid to rest, reminding us of the unmoving faith they had in our Nation and the ultimate sacrifice they made. It flies over buildings, classrooms, and courthouses—across small towns, in big cities, and around the world—a constant reminder that democracy begins and will be preserved in the habits and the hearts of ordinary people and that we all share a responsibility to stand up for it each and every day. Across the country, Americans are writing the greatest comeback story our Nation has ever known. They are finding new ways to lead America into a future of possibilities, helping build a democracy with dignity—one worthy of our dreams. On Flag Day and during National Flag Week, we honor all that the flag means to the American people and continue working to ensure that America is a land of possibilities for all. No matter how dark the night, Americans will always pursue our Nation's North Star—our flag will always be there. To commemorate the adoption of our flag in 1777, the Congress, by joint resolution approved on August 3, 1949, as amended (63 Stat. 492), designated June 14 of each year as "Flag Day" and requested the President issue an annual proclamation calling for its observance and for the display of the flag of the United States on all Federal Government buildings. The Congress also requested, by joint resolution approved June 9, 1966, as amended (80 Stat. 194), that the President issue annually a proclamation designating the week in which June 14 occurs as "National Flag Week" and calling upon all citizens of the United States to display the flag during that week. Now, Therefore, I, Joseph R. Biden Jr., President of the United States of America, do hereby proclaim June 14, 2024, as Flag Day and the week starting June 9, 2024, as National Flag Week. I direct the appropriate officials to display the flag on all Federal Government buildings during this week, and I urge all Americans to observe Flag Day and National Flag Week by displaying the flag and honoring all of our brave service members and revering those who gave their last full measure of devotion defending our freedoms. I encourage the people of the United States to observe with pride and all due ceremony those days from Flag Day through Independence Day, set aside by the Congress (89 Stat. 211), as a time to honor the American spirit, to celebrate our history and the foundational values we strive to uphold, and to publicly recite the Pledge of Allegiance to the Flag of the United States of America. In Witness Whereof, I have hereunto set my hand this seventh day of June, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-eighth. Joseph R. Biden, Jr. [Filed with the Office of the Federal Register, 11:15 a.m., June 11, 2024] NOTE: This proclamation was published in the *Federal Register *on June 12. Categories: Proclamations : Flag Day and National Flag Week. Subjects: Flag Day and National Flag Week; U.S. servicemembers, service and dedication. DCPD Number: DCPD202400497.

usgpo

2024-06-24T00:12:31.378277

DCPD-202400499

Remarks to Members of the Press With President Emmanuel Macron of France in Paris, France

Administration of Joseph R. Biden, Jr., 2024 June 8, 2024 President Biden. It's beautiful. President Macron. Mr. President, dear Joe, ladies and gentlemen, Ambassadors, ladies and gentlemen. Mr. President, you are honoring us with a state visit to France after—your presence and that of your wife, Dr. Jill Biden, after the 80th anniversary of D-Day in Normandy. And I believe your veterans, our veterans, and those of all the Allies were honored by your presence and that of other leaders on the 6th of June and by the warm welcome they enjoyed while they were there. But this says a lot about the strength of our alliance and what binds France and the United States of America. This is a unity of blood, shed to address the great challenges of the day, but it is this bloodline that is the connection between our two flags, our two nations. So, once again, thank you for your presence. Together with the President, we discussed the great issues that we are facing, the first of which being Ukraine. Today, in Ukraine, men and women are fighting with remarkable courage, determined not to give in faced with the Russian aggression, the unjustifiable aggression. Jointly, we responded to extend our support to this European nations, which is fighting for its survival and its freedom, and we will continue to this as intensely and as long as is necessary. And I would like to thank you, sir, for the commitment of the United States of America and the recent decisions you've recently confirmed whereby you came to our sides and played a critical role in this conflict. This conflict is all about the security and stability of Old Europe. Many thanks again. And I think we see eye to eye on this war raging in Ukraine. We took joint decisions authorizing Ukraine to fight back, strike its aggressor when defending its territory. We are, of course, making great efforts to arm, train, equip the Ukrainian army. And we made remarkable decisions. We mentioned the—well, the details of the war, as I said, raging out there. But during the G–7, we hope—both hope that all members of the G–7 will agree to a 50 billion solidarity fund for Ukraine. And, in the peace conference in Switzerland, you will be represented there. This will be a critical stage as well. And of course, the NATO summit in Washington, DC. As regards the Ukrainian issue, as I said, we do see eye to eye: respect for international law, the freedom of peoples to determine their own future to self-determination. And thank you for being at Europe's side. This close cooperation between France and the United States concerns other crises as well. There should be no dual standards, and although there are many crises around the world, we're still applying the self-same principles with the self-same determination. In Gaza, we want to obtain the immediate liberation of hostages, and we can only welcome the liberation of four hostages by the Israeli army. We want to achieve the immediate cease-fire and open up the prospect of a political solution, which is the only one that can bring about a fair and lasting peace and meet the security of concerns of both people. And that is why we are supporting the comprehensive proposal of the United States of America. After 9 months of conflict, the situation in Rafah and the human consequences are unacceptable. It is not acceptable that Israel should not open all checkpoints to humanitarian aid as requested by the united—international community for months. Operations—Israeli operations should stop there, and the United Nations Security Council has a role to play. But of course, jointly, we will double down to avoid a regional escalation, in particular, in Lebanon, where we are working on deescalation on the Blue Line and on the institutional aspect in both countries, working with both—and indeed, all—stakeholders to assure that all parties come back to their senses. Regarding Iran, we know the same thing. There is an all-out escalation: unprecedented attacks against Israel, operations of regional destabilization, and, of course, the Iranian nuclear program. Both our countries are determined to bring pressure to bear to counter this trend. And this was demonstrated recently enough, a few days ago, by jointly adopting a resolution at the International Atomic Energy Agency. The self-same determination is there. We do not wish to apply double standards. And that is why we coordinate our efforts in Africa, the crisis in Sudan, in the east of the Democratic Republic of Congo, throughout the region. And, over and beyond this, our two countries, with a mean sense of leadership, will address the challenges of our time, especially those touching the most vulnerable countries. We do wish to achieve a fairer international order. That is the meaning of the Paris Pact for the People and the Planet, but also initiatives for a more efficient tax system. We are stepping up the exit from the coal—from coal energy. There will be the conference on the ocean. And indeed, we are mobilizing efforts on global health. And indeed, we will be both involved in organizing the Gavi conference here in Paris. That is also what lies behind this proposition of an Olympic Truce, which was proposed by the U.N. just a few days ago. On the economic front, we are both concerned about China's unfair trade practices, which bring about overcapacity. This is of such importance for the global economy that we have to act in a coordinated fashion. During my visit in December '22, I explained the consequences of the Inflation Reduction Act on the European economy. We discussed this again. That piece of legislation is useful because it makes it possible—indeed, it steps up the decarbonization of the American economy and, therefore, the implementation of the Paris Agreements. But of course, we want to reset, as it were, both our economies—that is the European economy and the—that of the United States of America—in terms of regulation, investment, and on such issues as clean tech, artificial intelligence, and indeed, agrifood issues. But of course, we want to work on the bilateral level for better cooperation. American students, American scientists, American entrepreneurs are more than welcome in this country. We wish there would be more of them. We also have cooperation based, since the state visit of December 2022, around the civilian nuclear industry. In the space industry, we want to go further. Indeed, a number of agreements were signed between CNES and NASA on Earth observation or, indeed, the Artemis program. And also proud to announce that the first high-speed—American high-speed train, built by Alstom, will be commissioned in the United States by year's end. And that is also a sign of increased cooperation between our railroad industries, and this is a sign of economical cooperation, but also a step towards the energy transition resorting to France's technological excellence. I would also like to signal the importance of American investors in France. There was the Choose France Summit in France. France will start a new foundation worth 100 million euros to promote university exchanges and exchange programs of research between our two countries. I would like to thank the companies that joined this. In particular, CMA–CGM was very much involved. This new initiative comes after the success of the Villa Albertine project, where several cities in your country received as many as 180 creators and intellectuals in a matter of 2 years in about 50 cities. I shan't speak longer. But I would like to say that—regarding the wars around the world inflicting pain around the world on big international issues and on the bilateral front—together with President Biden, we want to have a joint roadmap. We need to trust in the future, trust in progress, trust in innovation, the determination to create jobs not just in the U.S., but in Europe as well. We want to be there when the economy is properly decarbonized, but we want to build peace. We mustn't be naive. We must be on the side of those who resist. We must not be naive. In other words, we need to find demanding solutions. But I would like to thank you, Mr. President, to be not—the President not just of the first— of the greatest world power, but you being clear and loyal partner who respects Europeans and who wants to build on these agreements from the Ukraine to the Middle East, through what we're taking up today on the economic front. Thank you. Thank you for being with us today. And thank you for honoring Paris, Normandy, and France during the celebrations with your state visit. Thank you. President Biden. Well, Mr. President, thank you. It's been a great honor to be here, not only the Normandy events, but it was a moving experience for a student of French history to be—the Champs-Élysées today. I—it was a moving experience for us, for the whole delegation. You know, France was our first friend and remains our—one of our best friends. This week, we reaffirmed that friendship in a deeply meaningful way. But, before I begin my remarks, I want to echo President Macron's comments welcoming the safe rescue of four hostages that were returned to their families in Israel. We won't stop working until all the hostages come home and a cease-fire is reached. That is essential to happen. You know, together we marked the 80th anniversary of the Allied operation that saved Europe and an—incredible heroes who carried it out. I found it—180 brave men—happened to be all men at the time—who came back to Normandy this week with such pride and sense of devotion. I don't think anyone who got to meet them, shake their hands, or hear their stories will ever forget their stories or the look in their eyes and the pride they took with what they did. But you could also see they were remembering the lost comrades at the same time. You know, the fact is that I know I won't forget it. And I want to thank President Macron, Mrs. Macron for—and the people of France for making our heroes feel so welcome, because they did feel welcome. You could feel it. You could see it. And we'll never forget—we'll never forget—what they did. And this week, we have showed the world once again the power of allies and what we can achieve when we stand together. That's what this relationship between France and the United States exemplifies. You know, we see it in Ukraine, where our two countries are standing with the Ukrainian people as they fight off Putin's brutal aggression. And yesterday I announced $225 million in new security assistance to Ukraine. And it's the sixth package we've provided since we signed the national security legislation earlier this year—I wish we could have done it when we wanted to 6 months earlier, but we got it done—with $61 billion in additional aid to Ukraine. And I commend France and our European allies for their leadership as well. The EU has proved that—provided over a—107 billion—$107 billion in assistance to Ukraine since the war began, because we know what happens if Putin succeeds in subjugating Ukraine, and it won't— we won't stop—you know—you know, Putin not going to stop at Ukraine. It's not just Ukraine; it's about much more than Ukraine. All of Europe will be threatened, but we're not going to let that happen. The United States is standing strong with Ukraine. We're standing with our allies. And we're standing with France. We will not—we will not—say it again—walk away. And around the world, France and the United States are working together to strengthen security and shared prosperity. In the Indo-Pacific, we stand together for freedom of navigation, transparent governments, as well as fair economic practices. In the Middle East and North Africa, we work together on issues critical to peace and stability, like food security and counterterrorism. And the existential threat of climate change, which is just growing greater, we're working together to accelerate the global transition to net-zero. It is the existential threat to humanity, among—the only existential threat to humanity, including nuclear weapons, is if we do nothing on climate change. I could go on. Every day, the French people and the American people are connected in countless ways through economic ties, collaboration in science and technology, educational exchanges. The reason we don't have more Americans coming, we were afraid they won't come home. [*Laughter*] It's such a beautiful—I mean it. This is such an incredible country, such a beautiful country. And you know, the fact is that these cherished ties between our families and friends continues to grow. The bonds between our nations are strong, vast, and rooted in the most important element: shared values. That's true today, as it's been from the very start. In a few weeks, the United States will celebrate the Fourth of July, our day of independence. That feat would not have been possible—it's not hyperbole—would not have been possible were it not for France coming to our aid. We're the—we're a nation because of France, in large part. You stepped up when we needed help, and you did it. That's what the Fourth of July is about. That feat would not have been possible, again, without your support, without France's support. Today I proudly stand with France to support freedom and democracy around the world. That's what this spectacular week is all about. Mr. President, there is much more we had the chance to talk about. We're going to continue to talk. You've become a good friend, and I really appreciate your cooperation and your insights. Thank you, thank you, thank you. President Macron. Merci beaucoup. Thank you, President. President Biden. Thank you. Q. Mr. President, can you give us an update on the Russian assets? Did you discuss that today? NOTE: The President spoke at approximately 4:20 p.m. at the Élysée Palace. In his remarks, he referred to Noa Argamani, Almog Meir Jan, Andrey Kozlov, and Shlomi Ziv, Israeli citizens who were kidnapped by Palestinian militants at the Nova music festival near Kibbutz Re'im during the Hamas-led attacks of October 7, 2023; and President Vladimir Vladimirovich Putin of Russia. President Macron spoke in French, and his remarks were translated by an interpreter. Categories: Interviews With the News Media : Joint news conferences, President Macron of France. Locations: Paris, France. Names: Argamani, Noa; Jan, Almog Meir; Kozlov, Andrey; Macron, Emmanuel; Putin, Vladimir Vladimirovich; Ziv, Shlomi. Subjects: Climate change; D-Day, 80th anniversary; France, President; France, President Biden's visit; France, relations with U.S.; Gaza, conflict with Israel; Gaza, hostages held by Hamas; Indo- Pacific, economic and security cooperation; Israel, military operations in Gaza; Middle East, international security cooperation; Russia, conflict in Ukraine; Russia, President; Ukraine, international military aid; Ukraine, Russian invasion and airstrikes; Ukraine, U.S. assistance. DCPD Number: DCPD202400499.

usgpo

2024-06-24T00:12:31.786420

DCPD-202400500

Joint Statement by President Biden and President Emmanuel Macron of France- French-American Roadmap

Administration of Joseph R. Biden, Jr., 2024 June 8, 2024 Following the ceremonies of the 80th anniversary of the Normandy landings, the President of the French Republic Emmanuel Macron hosted the President of the United States Joseph R. Biden Jr. in Paris for a State visit, highlighting the deep historic ties and the shared values between France and the United States. Reflecting on their historical relationship and recalling the price for peace and freedom paid by past generations in both countries, the Presidents reaffirm their commitment to a Europe, whole, free, and at peace. Ukraine The Presidents reaffirm their strong condemnation of Russia's war against Ukraine and reject Russia's attempted annexation of sovereign Ukrainian territory, in clear violation of international law, including the United Nations Charter. Russia's irresponsible nuclear rhetoric and disregard of arms control regimes are unacceptable. In that context, France and the United States reaffirm their continued support for Ukraine's defense of its sovereignty and territorial integrity, including through the continued provision of political, security, humanitarian, and economic assistance to Ukraine. The United States and France confirm their support for a comprehensive, just, and durable peace, respectful of international law, and will continue working with partners and allies to coordinate assistance efforts to allow Ukraine to fully exercize its right of self-defense, as reflected in Article 51 of the UN Charter. The Presidents discussed options to do more to support Ukraine; Euro-atlantic security as a whole is at stake in this war. France and the United States co-chair the artillery coalition at the Ukraine Defense Contact Group and intend to take new steps to provide the necessary support to Ukraine in the current phase and in the longer term. France and the United States remain determined to dispel any false notion that time is on Russia's side; the Presidents commit to support efforts within the European Union and by the G7 to bring forward the extraordinary profits from the immobilized Russian sovereign assets for the benefit of Ukraine, consistent with international law and our respective legal systems and decision-making processes. The Presidents also expressed strong concern about transfers of weapons, especially from Iran and Democratic People's Republic of Korea, and dual-use materials and components for military production from businesses in the People's Republic of China and other countries, that Russia is using to rebuild its military and defense industrial base to pursue its war against Ukraine. The United States and France support actions to curtail access to the U.S. and French financial systems for those who engage in such transfers. France and the United States share a common commitment to support the Organization for Security and Cooperation in Europe's work to spotlight and document abuses of human rights and violations of international humanitarian law by Russia's forces. The United States and France remain committed to mitigating the tragic humanitarian and human rights consequences of the war as well as its effects on global food security, energy, nuclear safety and security, and the environment. NATO France and the United States reaffirm their intent to defend each other and every inch of Allied territory at all times, protect their citizens, and safeguard freedom and democracy, in accordance with their commitments as NATO Allies. France and the United States are strengthening their collective defense, based on a 360-degree approach, against all threats and from all directions. The leaders reaffirmed the importance of strengthening the NATO-EU strategic partnership and promoting a stronger and more capable European defense underpinning the European pillar of transatlantic security that contributes positively to collective security. The United States supports European Allies' and partners' growing investments in military capabilities that enable our shared defense, in complementarity with NATO. Moldova, Western Balkans, and South Caucasus France and the United States intend to continue to work with Moldova and other partners to strengthen Moldova's resilience to Russia's destabilization attempts, diversify its energy supply, and fortify its democratic institutions and human rights protections, to advance its European integration. France and the United States welcomed continued close cooperation on the integration of the Western Balkans into the European Union in order to increase prosperity and fortify democratic governance and the rule of law. They welcome the opportunity to strengthen joint engagement in the Western Balkans, including through cooperation between the European Union (EU) and NATO, the EU-facilitated dialogue on the normalization of relations between Kosovo and Serbia, and by supporting key reforms for EU integration. As witness of the Dayton-Paris Agreements, France and United States reaffirm their support for the Office of the High Representative and will continue to firmly protect Bosnia and Herzegovina's sovereignty, territorial integrity, and multiethnic character. They call on leaders in Bosnia and Herzegovina to reject the path of division and secession and instead work together to make the reforms needed to join the EU. They urge the new government in North Macedonia to stay focused on the EU path and abide by their international commitments. The United States and France affirm their commitment to standing with the people of Georgia in their Euro-Atlantic aspirations. The Presidents urge the Georgian Dream ruling party to respect the public's wishes by returning to the Euro-Atlantic path. The United States and France support the establishment of a fair and lasting peace in the South Caucasus, based on the respect of international law as well as the principles of sovereignty, inviolability of borders and territorial integrity. They support further regional integration in the South Caucasus for the benefit of all the region's people. Middle East In the Middle East, France and the United States are committed to pursue their joint efforts to de-escalate and avoid regional conflagration. France and the United States call for an immediate ceasefire in Gaza and reiterate that all hostages are to be released immediately, without preconditions. The Presidents reiterate their grave concern for the dire humanitarian crisis in Gaza, and call for the delivery of vital humanitarian aid at scale to the civilian population and unhindered and sustained humanitarian access through all routes into and inside Gaza. They also reiterate the need for Israel to do more to effectively protect Palestinian civilians and humanitarian workers. They reaffirm their commitment to a two-state solution, the only way to ensure lasting peace between Israelis and Palestinians. They particularly underline the utmost importance of preserving the stability of Lebanon and de-escalation on the Blue Line, and will work together to reach this goal. Both countries call on all parties to exert maximum restraint and responsibility consistent with UNSCR1701. In this context, France and the United States underline the urgency to bring an end to Lebanon's 18- month long presidential vacuum and to proceed without further delay with the election of a president, the formation of a government, and the implementation of the reforms necessary to stabilize the Lebanese economy and lay the foundations for recovery and sustainable inclusive growth. They reaffirmed their determination to increase pressure on Iran to curb its destabilizing regional activities, nuclear escalation and missile proliferation, halt its support to Russia's war of aggression against Ukraine, secure its full cooperation with the International Atomic Energy Agency, and pave the way for a future negotiated solution that ensures its nuclear program is exclusively peaceful. They stand ready to adopt further sanctions and take other measures to counter Iranian destabilising activities and to prevent transfers of Iranian missiles to Russia. They also reiterate deep concern over Iran's human rights violations and abuses, especially against women, girls, and minority groups. We call on Iran's leadership to end all arbitrary detentions. Africa France and the United States are committed to partnering with African countries on shared global priorities, including inclusive global economic growth, combatting the climate crisis, digital transformation, good governance and security, food security, and global health. They welcomed the African Union as a permanent member of the G20 and will work with African countries to ensure they are fully represented in international institutions. They support African partners and regional organizations in their efforts to bring peace, stability and good governance to the region, while investing in inclusive and sustainable development, human capital, and infrastructure as a key driver of economic growth. The United States and France are also deeply concerned by the deterioration of the governance, security, and humanitarian situation in Sudan, the Sahel, Great Lakes, and other crises. They strongly condemn ongoing human rights violations committed by multiple parties including Russian proxies as well as national armed forces, the shrinking of democratic space and rise in disinformation. France and the United States call on all belligerents in the Democratic Republic of Congo (DRC) to immediately cease hostilities, for Rwanda to withdraw and stop supporting M23, for DRC to stop any collaboration with FDLR and other armed groups, and for all actors to respect international humanitarian law. The Presidents continue to be supportive of regional diplomatic efforts and commend in particular the mediation led by the President of Angola, and call on all parties to de-escalate, protect civilian populations, and participate constructively in dialogue to create conditions for a negotiated solution leading to a lasting peace. The Presidents commit to consulting on their respective approaches in Western Africa, including in the Sahel. The United States and France are committed to advancing mediation efforts to find a political solution to the Sudan crisis as well as to support increased, sustained and vital humanitarian assistance to the Sudanese population. Indo-Pacific The United States and France are strengthening their cooperation in the Indo-Pacific to advance prosperity, security, and universal values based on a rules-based international order, transparent governance, fair economic practices, and respect for international law, including freedom of navigation. In line with their shared commitment to the security and stability of the region and building on their comparative advantages, the United States and France also aim to expand concrete cooperation in areas such as maritime security, humanitarian assistance and disaster response, climate, biodiversity, and sustainable ocean management. The Presidents recall and fully support G7 statements on PRC and will closely coordinate on the different challenges related to PRC's measures and policies. Regarding the DPRK, they continue to strongly condemn the DPRK's provision of ballistic missiles and munitions to Russia for use in Ukraine and, they will coordinate their efforts in the UNSC on all DPRK related issues. They reaffirmed their support for the people of Myanmar in their quest for peace, freedom, and democracy. The United States and France are deepening their regional diplomatic, development, and economic engagement, including with regional institutions like ASEAN, the Pacific Islands Forum, and the Indian Ocean Rim Association, to support prosperity and security and the transition to sustainable renewable energy in Southeast Asia, the Pacific Islands, South Asia, and across the Indo-Pacific region. Western Hemisphere The United States and France are supporting the swift deployment of the United Nations Security Council authorized Multinational Security Support mission to Haiti and thank Kenya for leading this critical mission. The Presidents stand with other international partners in their readiness to support the electoral process in Haiti. France and the United States support the Venezuelan people's desire for competitive presidential elections July 28 to peacefully restore their democracy. They urge President Maduro to respect the commitments made in Barbados in October 2023 and to reconsider his decision to revoke the EU's invitation to participate as an election observation mission and to allow unimpeded access to election observation missions from the EU, United Nations, and Carter Center. They also call on President Maduro to continue to allow unified opposition candidate Edmundo González to run, to end repression of the political opposition, and to release political prisoners immediately. Transnational Issues Security Council reform France and the United States are committed to enlarging the Security Council to ensure a greater presence of underrepresented regions, including African States. France and the United States are convinced that expansion of the Security Council in both permanent and non- permanent categories is possible. Fight against foreign interference and manipulation of information Both countries are committed to promoting the right to freedom of opinion and expression, both offline and online, including the freedom to seek, receive and impart information and ideas of all kinds, with information integrity in a manner consistent with democratic values human rights. Together, France and the United State co-chair the Organization for Economic Cooperation and Development's (OECD) Information Integrity Hub to promote cooperation and knowledge sharing on practical approaches to advance information integrity. Both countries welcome the publication by the OECD of the report "Facts not fakes" in March 2024 and its contribution to the benchmark of public policies related to information integrity and improving the transparency and responsibility of very large online platforms. Both leaders commit to intensify global exchanges, including through the Partnership for Information and Democracy, strengthen capacity building, and sharing of information regarding disinformation, particularly during crises. Both countries support the International Fund. They also commit to a fruitful cooperation at the United Nations and via the Partnership for Public Interest Media, as an effective new tool to promote quality, trustworthy and reliable information throughout the world. The United States and France intend to collaborate on building partner countries' resilience to foreign information manipulation on key dimensions: National Strategies and Policies; Governance Structures and Institutions; Human and Technical Capacity; Civil Society, Independent Media, and Academia; and Multilateral Engagement. Together, France and the United States intend to work on operationalizing relevant actions through new and existing multilateral mechanisms, such as the G7 Rapid Response Mechanism, and in coordination with other likeminded partners and multilateral organizations. The United States and France condemn the scourge of transnational repression (TNR). The United States welcomed France's participation in the U.S.-chaired G7 Rapid Response Mechanism Working Group on TNR, launched in Juuly 2023, and the countries will continue to deepen cooperation to prevent and combat TNR moving forward, including in the fight against TNR in digital spaces. Digital Governance and Emerging Technologies France and the United States are committed to promoting an open, interoperable, reliable and secure Internet. This includes a secure, stable, accessible and peaceful cyberspace and multi- stakeholder Internet governance. The reshaping of the international digital agenda should lead to close bilateral and multilateral collaboration, particularly at the UN, with the ongoing negotiation of the Global Digital Compact to be adopted during the Summit for the Future. France, alongside the EU, and the United States have pursued domestic governance and regulatory frameworks on artificial intelligence (AI). They stress the importance of international discussions on AI governance and their interoperability, given the global economic potential and social impacts of this technological revolution. In doing so, France and the United States recognize the importance of promoting safe, secure, and trustworthy AI in line with a risk-based, human-centric and innovation-friendly approach. In particular, they reiterate their commitment to work together in the G7 to advance the International Code of Conduct for Organizations Developing Advanced AI Systems. This will include a reporting framework to foster accountability in the development of advanced AI systems and to understand the extent to which the Code of Conduct is encouraging improved security and risk management practices. They commend cooperation via the Global Partnership on AI with 29 members from all geographies. They support the ambition to strengthen the mandate of the Partnership, meant to become an inclusive forum to both engage in joint research projects of public interest and support meaningful discussions among partners on standards and interoperability of their respective AI regulations. In particular, they underline the need for close cooperation on AI technical standards to ensure the safe and trustworthy development of AI systems. The United States intends to participate in the AI Action Summit in France in 2025, and contribute to its preparation as part of the steering committee, with a view to promoting safe, secure and trustworthy AI at the service of the general interest and economic and social prosperity for all regions of the world. France and the United States encourage the participation of civil society, academia, technical community and businesses in multi-stakeholder initiatives promoting a safe and accountable online space, notably within the Christchurch Call to Action to eliminate terrorist and violent extremist content online, the Children Online Protection Lab, the Paris Call for trust and security in cyberspace, and the Global Partnership for Action on Gender-Based Online Harassment and Abuse to which France is also contributing with the creation of the Laboratory for women's rights online focusing on online and technology-facilitated gender-based violence. As France and the United States continue to enhance their cooperation regarding the promotion of critical and emerging technologies, they continue to acknowledge that certain of these technologies have implications for global peace and security. To this end, France and the United States have a shared objective of ensuring our technology ecosystems cannot be exploited to undermine international peace and security. France and the United States continue to ensure that our tools, including related to trade, investment, and exports, are fit for purpose to address such security implications while avoiding undue restrictions on international trade and investment. France and the United States recognize the importance of promoting transatlantic academic research collaboration in critical and emerging technologies, to include, quantum, AI, and biotechnology. France and the United States believe that working with likeminded countries on emerging technologies reinforces a global vision for how these technologies can be used for good. Cybersecurity The two Presidents pledge to continue coordinating efforts to tackle the proliferation and MISUSE of commercial cyber intrusion capabilities, including commercial spyware, to strengthen cyber-capacity buildings efforts, and increase their cooperation against malicious cyber activities, including state-sponsored ones. They also reaffirmed support for the Joint Statement on Efforts to Counter the Proliferation and Misuse of Commercial Spyware and the Pall Mall Process. The two Presidents underscore the importance of the International Counter Ransomware Initiative, and welcome the growing participation of members, demonstrating ongoing cooperative efforts to neutralize ransomware on a global scale. Pacific Undersea Cables The United States and France underline the strategic location of French overseas territories, for the undersea cables network, its development as a digital hub in the south Pacific, and will continue to collaborate with the private sector, including French companies, and like- minded partners to build trusted and more resilient networks to expand digital connectivity and economic development in the Pacific region and beyond. Climate, Plastic pollution, Biodiversity and Ocean Protection France and the United States call for scaled up efforts to reduce global greenhouse gas emissions, in a deep, timely, and sustained manner, during this critical decade to keep our goal of limiting the temperature increase to 1.5C alive. Together, they are committed to submitting new and ambitious Nationally Determined Contributions with absolute reduction targets, covering all sectors and categories of the economy and all greenhouse gases, including methane by February 2025, as well as revising their long-term low greenhouse gas emission development strategies towards just transitions to net zero emissions, as required by the Paris Agreement and the outcome of the first Global Stocktake (GST). France and the United States reiterate the need to reach a 75% reduction in global methane emissions from fossil fuels, including by reducing methane emissions intensity of oil and gas operations by 2030, leveraging instruments like the International Methane Emissions Observatory, the Global Methane Pledge and national instruments. They committed to continue robust bilateral coordination on climate negotiations through regular meetings. Recognizing the key role of nuclear energy as a clean/zero-emissions energy source in achieving global net-zero greenhouse gas emissions, both France and the United States reiterate their endorsement of the declaration to triple nuclear energy capacity globally by 2050, which they launched along with more than 20 other countries from four continents at COP28, and welcome additional endorsers in advance of COP29. They express their intention to achieve meaningful results at COP29 and COP30, including on climate finance and the implementation of the GST's "1.5-degree roadmap," as well as building upon the COP28 pledges to triple renewable energy capacity globally and double the global average annual rate of energy efficiency improvements by 2030, through companion efforts such as increasing total energy storage and grids expansion, turning this added renewable capacity into baseload power. France and the United States emphasize the urgency to effectively, concretely, and rapidly implement the CMA.5 GST decision, including on the transition away from fossil fuels in energy systems in a just, orderly, and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050. They recalled the commitment of the G7 to phase out existing unabated coal power generation in our energy systems during the first half of 2030s and make intensive efforts to reduce demand for and use of fossil fuels. France and the United States welcome the OECD confirmation that developed countries fully met their goal of jointly mobilizing 100 billion USD per year for climate action in developing countries for the first time in 2022, and expressed the need for an ambitious new collective quantified goal, set from a floor of USD 100 billion per year, which contributes to keep 1.5°C within reach, and build a net-zero GHG emissions and climate resilient future. They will continue to support developing and emerging economies through such measures as implementation of partnerships like the Just Energy Transition Partnerships and climate finance, particularly increased use of blended finance and mobilizing private finance. This will include a joint initiative to encourage multilateral development banks to explore their potential role in nuclear energy financing and technical assistance, according to each bank's capacity and comparative advantages. They will continue their efforts to make finance flows consistent with with a pathway towards low greenhouse gas emissions gas and climate-resilient development. Following the launch by France of the Coal Transition Accelerator at COP28, both presidents support the ongoing work of the OECD to recommend financial institution policies, informed by risk analysis, for phasing out private sector investment in new coal capacities and accelerating the transition towards renewable energies of existing capacities. The Presidents are committed to taking ambitious actions throughout the full life cycle of plastics to end plastic pollution and call upon the global community to do the same, with the aspiration to reduce the global production and consumption of primary plastic polymers. They urge the global community to finalize, by the end of 2024, an ambitious and effective international legally-binding instrument on plastic pollution, including in the marine environment, based on a comprehensive approach that addresses the full lifecycle of plastics. France and the United States emphasized the need to take urgent action to halt and reverse biodiversity loss by 2030 and conserve, protect and restore critical ecosystems, including forests and other wooded land, wetlands such as peatlands and mangroves and ocean, that are the main natural carbon sinks and biodiversity reservoirs. In particular, they committed to work together towards the conservation of 30 percent of terrestrial and marine areas by 2030, both at bilateral and multilateral levels, in line with the Global Biodiversity Framework adopted by Parties to the Convention on Biological Diversity at the Fifteenth Conference of Parties and to the achievement of its goals and targets. France and the United States call on the world to reach the highest level of ambition regarding the protection of the ocean at the next Our Ocean Conference in April 2025 and the UN Ocean Conference in Nice in June 2025. In order to cope with the absolute urgency facing the ocean, the Our Ocean Conference and the UNOC are critical opportunities to mobilize ambitious action and concrete commitments for the ocean. France and the United States support entry into force of the Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction before the next UN Ocean Conference in Nice, June 2025. France and the United States remain actively engaged in ensuring effective protection of the marine environment from harmful effects which may arise from deep seabed mineral exploitation and reaffirm their commitment to taking a precautionary approach to potential mining of marine minerals. The Presidents commend both countries' efforts to promote a healthy, sustainable, and resilient Atlantic Ocean, including the United States' leadership on the Partnership for Atlantic Cooperation, and France's leadership on the 2025 UN Ocean Conference. France and the United States affirm they will address water security challenges as part of combating climate change. They will cooperate on this issue, including at the next One Water Summit organized by France and Kazakhstan. France and the United States reaffirm their engagement to work towards the decarbonisation and climate resilience of buildings as part of the follow up to the implementation of the Chaillot declaration and the developpement of the buildings breakthrough priority actions. France and the Unites States also reaffirm their support to the implementation of the India—Middle East—Europe Corridor (IMEC), which will significantly contribute to fostering sustainable growth trajectories and access to clean energy across these regions. Global Development, Health, Food Security and International Financial Architecture France and the United States reaffirmed their commitment to evolve the international financial architecture to make it fit for the challenges of today's world. The United States and France commit to support discussions within the G20 as well as through the governance bodies of the international financial institutions to increase public and private resources to accelerate progress toward the Sustainable Development Goals, reduce emissions with a view to keeping 1.5C within reach, build climate resilience, and address other global challenges, including fragility and pandemics. This includes their commitment to build better, bigger, more effective multilateral development banks (MDB) and their efforts to boost MDB financial capacity. It includes supporting efforts to build complementarity and coherence in the climate finance architecture, as well as facilitating private investment through changes to incentives frameworks, more efficient and agile processes, a complete review of regulatory barriers, and the improvement of blended finance and guarantee instruments, including World Bank Group's Multilateral Investment Guarantee Agency. It also includes improving debt sustainability assessments to account for climate vulnerabilities and for scaled investment needs required by the ecological transition. They support the intention of all financial institutions to work as a system within the *Finance in Common *coalition. They support the ambition of the Paris Pact for People and Planet (4P) and its efforts to foster collaboration between key global stakeholders determined to work together to deliver additional financing for development, climate and nature. They note the need to support high-ambition developing countries that are facing financing challenges amid mounting debt burdens. In this regard, France welcomes the *Nairobi- Washington Vision, *which is a call to the international community to bring together its tools to support these countries, and looks forward to working on its implementation with the US, Kenya, and all the other stakeholders. France and the United States commit to continue leading a succesful and impactful replenishment of the resources of major multilateral instruments to fight against poverty and inequality, including the International Fund for Agricultural Development, the International Development Association, as well as of Gavi, the Vaccine Alliance, before the end of this year. International Taxation France and the United States reaffirmed their agenda for the Multilateral Convention to Implement Amount A of Pillar One, including discussing a partial reallocation of taxing rights on the profits of the largest and most profitable multinational enterprises as well as more tax certainty and simpler rules with a view to open the Multilateral Convention for signature by the end of June 2024. France and the United States also welcome the initiative taken by the G20 Brazilian presidency to prioritize discussions of international cooperation on taxation, and intend to work to increase efforts aimed at progressive and fair taxation of individuals. Bilateral Cooperation Defense and Security The Presidents praise the density and breadth of the U.S.-France defense relationship, both at the political and operational levels. Building on the joint Statement of Intent signed by the U.S. Secretary of Defense and the French Minister for the Armed Forces on November 30, 2022, this cooperation has deepened and extended in critical domains such as space, cyberspace, intelligence and informational warfare. The Presidents look forward to continuing dialogue on preserving and enhancing interoperability between U.S. and French forces and intend to advance this dynamic even further. They commend progress made by the U.S.-France Defense Trade Strategic Dialogue on the efficiency of their respective defense export authorization process and bilateral engagement on market access issues, and intend to sustain this momentum. This dialogue has allowed each partner to acknowledge the high standards of their respective export control regimes and discuss issues that affect our respective defense industrial bases. As adversaries intensify hybrid, cyber, and other forms of threats against our nations, France and the United States are committed to working together to counter these actions. Bilateral Partnership on Clean Energy As part of the third High-Level Meeting of the U.S.-France Bilateral Clean Energy Partnership, that recently convened in France, the two countries reaffirmed a common resolve to work towards achieving the goals of the Paris Agreement, including by leveraging cutting-edge research and science to accelerate the development and responsible deployment of clean energy technologies, breakthrough innovations, and policies that revitalize the energy sector and pioneer clean industries. Recognizing opportunities to further our bilateral energy cooperation, they identified areas of engagement including geological hydrogen, industrial decarbonization, and electricity grids and flexibility, as well as continued bilateral discussion on nuclear energy, critical minerals and critical raw materials, inclusive of accelerating implementation of the Minerals Security Partnership and the IEA Voluntary Critical Minerals Security Program. Civil Nuclear Energy The Presidents welcome the establishment of the Nuclear Energy Small Group under the umbrella of the Bilateral partnership. They intend to ensure reciprocal and mutually beneficial cooperation on the research and development of advanced nuclear technologies, including next generation reactors, small modular reactors, nuclear fuels technology, and sustainable solutions for back end fuel management. The United States and France will also promote the responsible deployment of nuclear reactors to meet decarbonization goals consistent with the highest standards of nuclear safety, security, and nonproliferation. Recognizing the importance of diversifying civilian nuclear fuel supply chains and developing nuclear fuel services free from Russian influence, the United States and France praise the progress made by the "Sapporo 5," including Canada, Japan, and the United Kingdom to exceed their COP28 goal to mobilize $4.2 billion in government-led investments to set a secure, reliable global nuclear energy fuel supply chain. France and the United States pledge to work together to mobilize further investment into the expansion of safe, secure, and reliable nuclear supply chains and sufficient to support the growth of carbon-free nuclear power consistent with a 1.5 degree limit on global warming by 2050. France and the United States are in full alignment to reduce dependencies on and cooperation with Russian civil nuclear industry. Space Cooperation The United States and France have established a Comprehensive Dialogue on Space to advance bilateral space cooperation across the civil, commercial, multilateral and national security dimensions of space. On civil space, the United States and France are committed to advancing cooperation on human spaceflight in Low Earth Orbit on the International Space Station, in deep space on and around the Moon within the Artemis program, and beyond. On top of the cooperation through the European Space Agency, mostly on the Lunar Gateway, the United States and France seek to develop bilateral lunar exploration cooperation. The United States and France cooperate on the Space for Climate Observatory (SCO) initiative to leverage space data to model and track climate change and develop operational tools to adapt to its impacts. In the frame of the SCO, the United States and France commit to develop a common Coastal Zone Digital Twin to monitor climate change and flood mapping. The U.S. and French oceanographers and hydrologists and international partners have also joined forces to develop and operate the Surface Water Ocean Topography mission, which is making the first global survey of Earth's surface water, observe the fine details of the ocean's surface topography, and measure how water bodies change over time. In addition, the National Aeronautics and Space Administration and the French Space Agency are committed to pursuing cooperation on the Atmosphere Observing System, along with other international partners, which will deliver key data for improved forecasts of weather, air quality, and climate. Transportation The U.S. Department of Transportation and French ministry in charge of transportation intend to reinforce their cooperation in the railway sector, sharing knowledge and best practices and encourage Amtrak and French companies such as SNCF and Alstom to exchange experience on rail projects and technologies. They encourage in particular these exchanges to faciliate completion of the on-going certification of Alstom's new Avelia Liberty high-speed train set for use by Amtrak's Acela service on the Northeast Corridor. Scientific Cooperation France and the United States are committed to developing their top-level and mutually beneficial scientific relationship. The French Ministry of Higher Education and Research and the U.S. Department of State will organize the 2025 Joint Committee for Science and Technology in order to intensify the bilateral cooperation on topics of common interest such as French-American round tables between scientists, will be organized to prepare this joint committee and identify cooperation priorities. Food Security Cooperation France and the United States are committed to working together to improve global food and nutrition security, including through mutual support the 2025 Nutrition for Growth Summit, furthering food security in key partner countries and as a part of the U.S. Feed the Future Flagship efforts, France and the United States commit to the World Bank's Global Agriculture and Food Security Program, the International Fund for International Development (IFAD), the global partnership for agricultural research CGIAR and the Great Green Wall Accelerator. With France hosting the 2025 Nutrition for Growth Summit and the United States hosting the subsequent summit in 2026, the Presidents intend to work together to coordinate efforts to strengthen global food security and nutrition for the most vulnerable people around the world, including through the school meals coalition of more than 100 countries, which France and the United States are sponsoring as part of the leading task force. France and the United States will continue to promote the integration and effective implementation of the One Health approach to prevent the emergence, re-emergence and spread of zoonotic diseases and to tackle antimicrobial resistance. France and the United States intend to work closely together to achieve their agricultural trade goals. Global Health Collaboration The United States and France continue to discuss ways to advance shared global health priorities, in particular in multilateral venues and with a focus on common regional priorities such as Africa. France and the United States are committed to supporting the new World Health Organization Academy in Lyon, which will greatly improve global training access for multisectoral health professionals. The United States and France are committed to strengthening the global health architecture and to increasing global efforts for pandemic prevention, preparedness and response, such as through the African Vaccine Manufacturing Accelerator as well as efforts to expand equitable access to immunization through our continued support for Gavi, the Vaccine Alliance, as it prepares to launch its next replenishment this month. As members of the Alliance for Transformative Action on Climate and Health, France and the United States have reiterated their desire to work together towards strengthening the resilience of health systems to climate change and mitigating the environmental footprint of health systems. France and the United States will continue to promote the integration and effective implementation of the One Health approach to prevent the emergence, re-emergence and spread of zoonotic diseases and to tackle antimicrobial resistance. The United States and France support efforts to transform the financing architecture associated with pandemic prevention, preparedness, and response. This includes helping to mobilize $2 billion in new financing and equal in catalytic financing for the Pandemic Fund at the pledging event in October 2024 and delivering on the MCM Surge Financing Initiative that relevant G7 DFIs are developing. France and the United States are also working together to fulfill the G7 commitment to assist at least 100 low- and middle-income countries in implementing the core capacities required in the International Health Regulations. In March 2024, France joined the United States in the Foreign Ministers Channel for Global Health Security launch event, which gathers Ministries of Foreign Affairs to bring diplomatic attention and action on critical global health security issues. As expressed in the recent G7 Foreign Ministers' Statement, they will also work together to raise the bar globally on biosafety and biosecurity. Cultural Cooperation France and the United States, recognizing their deep-rooted historical connections and shared democratic values, are eager to expand their cultural cooperation in the lead-up to the 250th anniversary of the signing of the Declaration of Independence of the United States in 2026. This historic milestone will offer a unique opportunity to reaffirm the longstanding democratic and people-to-people ties that have united France and the United States, through joint celebrations and cultural exchanges. France and the United States are committed to ensure the success of the UNESCO World Heritage nomination made by France for the historic D-Day landing sites at Utah, Omaha, Gold, Juno, and Sword beaches. By securing this recognition, France and the United States aim to preserve these sacred grounds for future generations, honoring the bravery and sacrifice of those who fought for freedom. This effort symbolizes both countries' enduring commitment to peace, remembrance, and international cooperation. Gender Equality and the Fight against Discrimination Advancing gender equity and equality and promoting the rights and opportunities of women and girls are priorities for France and the United States. The Presidents are committed to defending sexual and reproductive health and rights, strengthening women's economic empowerment, investing in childcare, addressing gender-based violence, working with and uplifting women's civil society organizations, and promoting women's representation, leadership, and political participation. Both countries commit to support women's economic empowerment by partnering together to close the gender digital divide including through the women in digital economy initiative and to support the investment in care, including through efforts such as the World Bank's Invest in Childcare Initiative. France and the United States welcome the OECD's Contribution to Promoting Gender Equality and the organization's commitment to providing data informed policy recommendations to close critical gender gaps, especially in green, energy, and digital transitions. France and the United States promote the DAC Recommendation on Gender Equality and the Empowerment of All Women and Girls in Development Co-operation and Humanitarian Assistance and reaffirm their commitment to prevent and combat sexual exploitation, abuse and harassment. As members of the Global Partnership for Action on Gender- Based Online Harassment and Abuse, France and the United States are committed to addressing all forms of technology-facilitated gender-based violence, and countering gendered disinformation and its growing threat to women leaders and democracies globally. France is also contributing with the creation of the Laboratory for women's rights online focusing on online and technology-facilitated gender-based violence. France and the United States share an affirmative vision of technology to help bridge the gender digital divide and empower women and girls in the online space. Both countries intend to work together on AI and gender issues, specifically in the view of the AI Summit hosted in Paris in 2025. France and the United States affirm their support for sexual and reproductive health and rights. Women can access reproductive health care, including contraception and safe abortion. Both countries defend sexual and reproductive health and rights in multilateral and bilateral relations, advocate for ambitious language in international negotiating bodies, and engage in existing coalitions, such as Generation Equality Forum coalition of action on bodily autonomy and sexual and reproductive health and rights. Both countries also provide bilateral and multilateral assistance for partner countries, international organizations, and local civil society actors, in order to support access to family planning and other critical, high quality sexual and reproductive health services. France and the United States call the international community to strengthen the efforts to promote and defend women's rights, including through bolstering UN Women and other relevant international entities. Countering Antisemitism France and the United States are committed to fight against all discrimination and to fight against all forms of hatred. In the context of surging antisemitism around the world, the two governments pledge to form an annual dialogue on combating antisemitism, and to further reinforce their role in broader coalitions to fight against all forms of discrimination and to fight antisemitism, to include coordination on strategies to mitigate online antisemitism and to promote education and a better understanding between all the various components of our societies. France and the United States continue to work together on preserving history and remembrance of the Holocaust, including accurate education and commemoration and restitution or compensation for art confiscated by the Nazis and their collaborators. Sport France and the United States, as host countries of the next Summer Olympic and Paralympics Games in 2024 and 2028, respectively, are committed to promoting cooperation between the institutions and groups involved in the organization of the Olympic and Paralympics Games, with the aim of making these events more sustainable, responsible, and inclusive. They will partner at the Paris and Los Angeles Games to demonstrate that these major universal sports events are a unique opportunity to pursue shared Sustainable Development Goals, and to promote efforts and investments in the health and education of future generations. They both recall the resolution adopted by the General Assembly on the Olympic Truce. NOTE: An original was not available for verification of the content of this joint statement. Categories: Joint Statements : France, President Macron. Names: González Urrutia, Edmundo; Macron, Emmanuel; Maduro Moro, Nicolas. Subjects: Africa, economic growth and development; Anti-Semitism; Arab-Israeli conflict, peace process; Artificial intelligence and other emerging technologies; Biodiversity preservation efforts; Broadband and wireless technologies; Burma, political unrest and violence; Carbon emissions, reduction efforts; China, trade and economic policies; Climate finance, international assistance for developing countries; Congo, Democratic Republic of the, political unrest and violence; Cybersecurity, strengthening efforts; D-Day, 80th anniversary; Food security, strengthening efforts; France, 2024 Summer Olympics in Paris; France, defense relationship with U.S.; France, nuclear energy cooperation with U.S.; France, President; France, relations with U.S.; France, science and technology, cooperation with U.S.; France, space cooperation with U.S.; Gaza, conflict with Israel; Gaza, humanitarian situation; Gaza, international assistance; Georgia, Republic of, European integration efforts; Group of Seven (G–7) nations; Group of Twenty (G– 20) nations; Haiti, U.N. security mission; Indo-Pacific, economic and security cooperation; International Atomic Energy Agency; Iran, human rights issues; Iran, nuclear weapons development; Iran, regional involvement; Israel, military operations in Gaza; Kenya, role in Haiti; Lebanon, stabilization efforts; Methane emissions, reduction efforts; Moldova, Russian involvement; North Atlantic Treaty Organization; North Korea, trade with Russia; Ocean pollution and plastic debris; Olympic and Paralympic Games; Organisation for Economic Co- operation and Development (OECD); Organization for Security and Cooperation in Europe; Pandemic disease prevention, international cooperation; Paris Agreement on climate change; Poverty reduction efforts; Rail infrastructure, improvement efforts; Renewable energy sources and technologies; Reproductive health care; Russia, conflict in Ukraine; Russia, U.S. and international sanctions; Sexual assault and harassment; Sudan, civil war and sectarian conflict; Ukraine, humanitarian situation; Ukraine, international military aid; Ukraine, Russian invasion and airstrikes; Ukraine, U.S. assistance; United Nations Security Council; United Nations sustainable development goals; Vaccine research and development; Venezuela, democracy efforts; Venezuela, President; Western Balkans, international security cooperation; Women's rights and gender equality; World Bank. DCPD Number: DCPD202400500.

usgpo

2024-06-24T00:12:31.805957

DCPD-202400496

Letter to Congressional Leaders on the Global Deployment of United States Combat-Equipped Armed Forces

Administration of Joseph R. Biden, Jr., 2024 June 7, 2024 Dear Mr. Speaker: (Dear Madam President:) I am providing this supplemental consolidated report, prepared by my Administration and consistent with the War Powers Resolution (Public Law 93–148), as part of my efforts to keep the Congress informed about deployments of United States Armed Forces equipped for combat. MILITARY OPERATIONS IN SUPPORT OF UNITED STATES COUNTERTERRORISM EFFORTS In furtherance of counterterrorism efforts, the United States continues to work with partners around the globe, with a particular focus on the United States Central and Africa Commands' areas of responsibility. In this context, the United States has deployed forces to conduct counterterrorism operations and to advise, assist, and accompany security forces of select foreign partners on counterterrorism operations. In the majority of these locations, the mission of United States military personnel is to facilitate counterterrorism operations of foreign partner forces and does not include routine engagement in combat. In many of these locations, the security environment is such that United States military personnel may be required to defend themselves against threats or attacks, and, to that end, the United States may deploy United States military personnel with weapons and other appropriate equipment for force protection. Specific information about counterterrorism deployments to select countries is provided below, and a classified annex to this report provides further information. Military Operations Conducted Pursuant to the 2001 Authorization for Use of Military Force and in Support of Related United States Counterterrorism Objectives Since October 7, 2001, United States Armed Forces, including Special Operations Forces, have conducted counterterrorism combat operations, including against al-Qa'ida and associated forces. Since August 2014, these operations have included targeting the Islamic State of Iraq and Syria (ISIS), also known as the Islamic State of Iraq and the Levant (ISIL), which was formerly known as al-Qa'ida in Iraq. In support of these and other overseas operations, the United States has deployed combat-equipped forces to several locations in the United States Central, European, Africa, Southern, and Indo-Pacific Commands' areas of responsibility. Such operations and deployments have been reported previously, consistent with Public Law 107–40, Public Law 107–243, the War Powers Resolution, and other statutes. These ongoing operations, which the United States has carried out with the assistance of numerous international partners, have been successful in seriously degrading ISIS capabilities in Syria and Iraq. If necessary, in response to terrorist threats, I will direct additional measures to protect the people and interests of the United States. It is not possible to know at this time the precise scope or the duration of the deployments of United States Armed Forces that are or will be necessary to counter terrorist threats to the United States. Afghanistan. United States military personnel remain postured outside Afghanistan to address threats to the United States homeland and United States interests that may arise from inside Afghanistan. Iraq and Syria. As part of a comprehensive strategy to defeat ISIS, United States Armed Forces are working by, with, and through local partners to conduct operations against ISIS forces in Iraq and Syria and against al-Qa'ida in Syria to limit the potential for resurgence of these groups and to mitigate threats to the United States homeland. A small presence of United States Armed Forces remains in strategically significant locations in Syria to conduct operations, in partnership with local, vetted ground forces, to address continuing terrorist threats emanating from Syria. United States Armed Forces in Iraq continue to advise, assist, and enable select elements of the Iraqi security forces, including Iraqi Kurdish security forces. United States Armed Forces also provide limited support to the North Atlantic Treaty Organization mission in Iraq. United States Armed Forces, as part of the Global Coalition to Defeat ISIS, remain present in Iraq at the invitation of the Government of Iraq. As reported on December 27, 2023, I directed United States forces to conduct discrete strikes on the night of December 25, 2023, against three facilities in Iraq used by Iran's Islamic Revolutionary Guard Corps (IRGC) and IRGC-affiliated groups for training, logistics support, and other purposes. As reported on January 25, 2024, I directed United States forces to conduct discrete strikes on the night of January 23, 2024, against facilities in Iraq used by IRGC-affiliated militia groups for training, logistics support, and other purposes. As reported on February 4, 2024, I directed United States forces to conduct discrete strikes against facilities in Syria and Iraq used by the IRGC and affiliated militia groups for headquarters and command and control, weapons storage, training, logistics support, and other purposes. These strikes followed attacks perpetrated by the IRGC and affiliated militia groups against United States personnel and facilities in Iraq and Syria that threatened the lives of United States personnel and Coalition forces operating alongside United States forces. These included an attack in northeastern Jordan, where an attack by IRGC-affiliated militia groups killed three United States service members. I directed these discrete military actions consistent with my responsibility to protect United States citizens both at home and abroad and in furtherance of United States national security and foreign policy interests, pursuant to my constitutional authority as Commander in Chief and Chief Executive and to conduct United States foreign relations and in accordance with the 2001 Authorization for Use of Military Force (Public Law 107–40) and the Authorization for Use of Military Force Against Iraq (Public Law 107–243). Arabian Peninsula Region. The United States military continues to work closely with the Republic of Yemen government and regional partner forces to degrade the terrorist threat posed by al-Qa'ida in the Arabian Peninsula and ISIS. United States Armed Forces, in a non-combat role, continue to provide military advice and limited information to the Saudi-led Coalition for defensive and training purposes only as they relate to territorial defense. Such support does not involve United States Armed Forces in hostilities with the Houthis for the purposes of the War Powers Resolution. United States Armed Forces are deployed to the Kingdom of Saudi Arabia to protect United States forces and interests in the region against hostile action by Iran and Iran-backed groups. These forces, operating in coordination with the Government of the Kingdom of Saudi Arabia, provide air and missile defense capabilities and support the operation of United States military aircraft. The total number of United States forces in the Kingdom of Saudi Arabia is approximately 2,321. Since at least November 2023, Yemen-based Houthi militants have engaged in a series of attacks against United States military forces, including ships and aircraft, and against maritime commercial shipping, operating in the Red Sea, the Bab al-Mandeb Strait, and the Gulf of Aden. These attacks have posed a threat to the safety of United States forces and commercial ships and their crews, regional political and economic stability, and navigational rights and freedoms. The Houthi militants continue to pose a threat of future attacks against United States forces and military vessels and against other maritime traffic in the region. As previously reported on January 12, 2024, January 24, 2024, February 5, 2024, and February 26, 2024, I directed United States forces, as part of a multinational operation, to conduct discrete strikes on January 11, 2024, January 22, 2024, February 3, 2024, and February 24, 2024, against targets in Yemen that facilitate Houthi militants' attacks in the Red Sea region. I directed the strikes in order to protect and defend United States personnel and assets, to degrade and disrupt the ability of the Houthi militants to carry out future attacks against the United States and against vessels operating in the Red Sea region that could further destabilize the region and threaten United States strategic interests. The strikes were conducted in a manner designed to limit the risk of escalation and avoid civilian casualties. Jordan. At the request of the Government of Jordan, approximately 3,813 United States military personnel are deployed to Jordan to support Defeat-ISIS operations, to enhance Jordan's security, and to promote regional stability. Lebanon. At the request of the Government of Lebanon, approximately 75 United States military personnel are deployed to Lebanon to enhance the government's counterterrorism capabilities and to support the counterterrorism operations of Lebanese security forces. Turkey. United States Armed Forces remain deployed to Turkey, at the Turkish government's request, to support Defeat-ISIS operations and to enhance Turkey's security. East Africa Region. United States Armed Forces continue to counter the terrorist threat posed by ISIS and al-Shabaab, one of al-Qa'ida's most well-resourced affiliates. Since the last periodic report, United States Armed Forces have conducted two strikes against al-Shabaab high- value targets and a number of airstrikes in Somalia against al-Shabaab in defense of our Somali partner forces when engaged with al-Shabaab and our support is requested to defend them against attack. United States Armed Forces remain prepared to conduct airstrikes in Somalia against ISIS and al-Shabaab terrorists. United States military personnel conduct periodic engagements in Somalia to train, advise, and assist regional forces, including Somali and African Union Transition Mission in Somalia forces, in connection with counterterrorism operations. United States military personnel are deployed to Kenya to support counterterrorism operations in East Africa. United States military personnel continue to partner with the Government of Djibouti, which has permitted use of Djiboutian territory for basing of United States Armed Forces. United States military personnel remain deployed to Djibouti, including for purposes of staging for counterterrorism and counter-piracy operations in the vicinity of the Horn of Africa and the Arabian Peninsula, and to provide contingency support for embassy security augmentation in East Africa, as necessary. Lake Chad Basin and Sahel Region. United States military personnel in the Lake Chad Basin and Sahel Region continue to monitor violent extremist organizations and provide support to African and European partners conducting counterterrorism activities in the region, including by advising, assisting, and accompanying these partner forces. Approximately 700 United States military personnel are currently deployed to Niger. However, the Department of Defense is in the process of withdrawing United States military personnel from Niger, and the withdrawal will be completed over the next several months. Cuba. United States Armed Forces continue to conduct humane and secure detention operations for detainees held at Guantanamo Bay, Cuba, under the authority provided by the 2001 Authorization for Use of Military Force (Public Law 107–40), as informed by the law of war. There are 30 such detainees as of the date of this report. Philippines. United States military personnel deployed to the Philippines are providing support to the counterterrorism operations of the armed forces of the Philippines. MILITARY OPERATIONS IN EGYPT IN SUPPORT OF THE MULTINATIONAL FORCE AND OBSERVERS Approximately 363 United States military personnel are assigned to or are supporting the United States contingent of the Multinational Force and Observers, which have been present in Egypt since 1981. UNITED STATES AND NORTH ATLANTIC TREATY ORGANIZATION OPERATIONS IN KOSOVO The United States continues to contribute forces to the Kosovo Force (KFOR), led by the North Atlantic Treaty Organization in cooperation with local authorities, bilateral partners, and international institutions, to deter renewed hostilities in Kosovo. Approximately 576 United States military personnel are among KFOR's approximately 4,500 personnel. UNITED STATES ARMED FORCES IN NORTH ATLANTIC TREATY ORGANIZATION COUNTRIES Approximately 80,000 United States Armed Forces personnel are assigned or deployed to North Atlantic Treaty Organization countries in Europe, including those deployed to reassure our allies and to deter further Russian aggression. UNITED STATES ARMED FORCES IN HAITI TO AUGMENT SECURITY OF THE UNITED STATES EMBASSY As reported on March 14, 2024, I directed a security force of military personnel to deploy to Port-au-Prince, Haiti, on March 12, 2024, to strengthen United States Embassy security in light of the instability in the country. Although this military security force was equipped for combat, its movement was undertaken as a precautionary measure solely for the purpose of protecting United States diplomatic facilities and diplomatic personnel. The forces equipped for combat have since departed Haiti. I have directed the participation of United States Armed Forces in all of the above-described operations pursuant to my constitutional and statutory authority as Commander in Chief and as Chief Executive (including the authority to carry out Public Law 107–40, Public Law 107–243, and other statutes), as well as my constitutional and statutory authority to conduct the foreign relations of the United States. Officials of my Administration and I communicate regularly with congressional leadership, relevant congressional committees, and other Members of Congress with regard to these deployments, and we will continue to do so. Sincerely, Joseph R. Biden Jr. NOTE: Identical letters were sent to J. Michael Johnson, Speaker of the House of Representatives, and Patricia L. Murray, President pro tempore of the Senate. An original was not available for verification of the content of this letter. Categories: Communications to Congress : Combat-equipped U.S. Armed Forces, letter on global deployment. Subjects: Al Qaida terrorist organization; al-Shabaab terrorist organization; Armed Forces, U.S., deployment of servicemembers; Counterterrorism and homeland security; Egypt, U.S. military detachment; Guantanamo Bay, U.S. Naval Base in Cuba, detention of alleged terrorists; Haiti, political unrest and violence; Iran, Islamic Revolutionary Guard Corps; Iran, regional involvement; Iraq, U.S. counterterrorism operations; Islamic State of Iraq and Syria (ISIS) terrorist organization; Jordan, security cooperation with U.S.; Kosovo, KFOR international security force; Lebanon, U.S. military detachment; Niger, U.S. military detachment; North Atlantic Treaty Organization; Philippines, U.S. counterterrorism operations; Red Sea attacks on commercial shipping; Somalia, U.S. counterterrorism operations; Syria, U.S. counterterrorism operations; Turkey, security cooperation with U.S.; Yemen, Houthi militant organization; Yemen, U.S. and coalition airstrikes. DCPD Number: DCPD202400496.

usgpo

2024-06-24T00:12:33.581457

PLAW-118publ11

Pala Band of Mission Indians Land Transfer Act of 2023

[118th Congress Public Law 11] [From the U.S. Government Publishing Office] [[Page 137 STAT. 62]] Public Law 118-11 118th Congress An Act To take certain land located in San Diego County, California, into trust for the benefit of the Pala Band of Mission Indians, and for other purposes. <<NOTE: July 28, 2023 - [H.R. 423]>> Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, <<NOTE: Pala Band of Mission Indians Land Transfer Act of 2023.>> SECTION 1. SHORT TITLE. This Act may be cited as the ``Pala Band of Mission Indians Land Transfer Act of 2023''. SEC. 2. TRANSFER OF LAND IN TRUST FOR THE PALA BAND OF MISSION INDIANS. (a) Transfer and Administration.-- (1) Transfer of lands into trust.-- <<NOTE: Deadline.>> If, not later than 180 days after the date of the enactment of this Act, the Tribe transfers title to the land referred to in subsection (b) to the United States, the Secretary, not later than 180 days after such transfer, shall take that land into trust for the benefit of the Tribe. (2) Administration.--The land transferred under paragraph (1) shall be part of the Pala Indian Reservation and administered in accordance with the laws and regulations generally applicable to land held in trust by the United States for an Indian Tribe. (b) Land Description.--The land referred to in subsection (a)(1) is the approximately 721.12 acres of land located in San Diego County, California, generally depicted as ``Gregory Canyon Property Boundary'' on the map titled ``Pala Gregory Canyon Property Boundary and Parcels''. (c) Rules of Construction.--Nothing in this Act shall-- (1) enlarge, impair, or otherwise affect any right or claim of the Tribe to any land or interest in land that is in existence before the date of the enactment of this Act; (2) affect any water right of the Tribe in existence before the date of the enactment of this Act; or (3) terminate or limit any access in any way to any right- of-way or right-of-use issued, granted, or permitted before the date of the enactment of this Act. (d) Restricted Use of Transferred Lands.--The Tribe may not conduct, on the land taken into trust for the Tribe pursuant to this Act, gaming activities-- (1) as a matter of claimed inherent authority; or [[Page 137 STAT. 63]] (2) under any Federal law, including the Indian Gaming Regulatory Act (25 U.S.C. 2701 et seq.) and regulations promulgated by the Secretary or the National Indian Gaming Commission under that Act. (e) Definitions.--For the purposes of this section: (1) Secretary.--The term ``Secretary'' means the Secretary of the Interior. (2) Tribe.--The term ``Tribe'' means the Pala Band of Mission Indians. Approved July 28, 2023. LEGISLATIVE HISTORY--H.R. 423 (S. 277): --------------------------------------------------------------------------- SENATE REPORTS: No. 118-2 (Comm. on Indian Affairs) accompanying S. 277. CONGRESSIONAL RECORD, Vol. 169 (2023): Feb. 6, considered and passed House. July 18, considered and passed Senate. <all>

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2024-06-24T00:12:33.679171

PLAW-117publ273

War Crimes Rewards Expansion Act

[117th Congress Public Law 273] [From the U.S. Government Publishing Office] [[Page 136 STAT. 4250]] Public Law 117-273 117th Congress An Act To amend the State Department Basic Authorities Act of 1956 to provide for rewards for the arrest or conviction of certain foreign nationals who have committed genocide or war crimes, and for other purposes. <<NOTE: Dec. 27, 2022 - [H.R. 4250]>> Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, <<NOTE: War Crimes Rewards Expansion Act.>> SECTION 1. <<NOTE: 22 USC 2651 note.>> SHORT TITLE. This Act may be cited as the ``War Crimes Rewards Expansion Act''. SEC. 2. DEPARTMENT OF STATE REWARDS PROGRAM. Paragraph (10) of section 36(b) of the State Department Basic Authorities Act of 1956 (22 U.S.C. 2708(b)) is amended by striking ``defined under the statute of such tribunal;'' and inserting the following: ``defined under-- ``(A) the statute of such country or tribunal, as the case may be; or ``(B) United States law;''. Approved December 27, 2022. LEGISLATIVE HISTORY--H.R. 4250: --------------------------------------------------------------------------- CONGRESSIONAL RECORD: Vol. 167 (2021): Sept. 28, considered and passed House. Vol. 168 (2022): Dec. 15, considered and passed Senate. <all>

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2024-06-24T00:12:34.094023

PLAW-118publ45

I-27 Numbering Act of 2023

[118th Congress Public Law 45] [From the U.S. Government Publishing Office] Public Law 118-45 118th Congress An Act To amend the Intermodal Surface Transportation Efficiency Act of 1991 to designate the Texas and New Mexico portions of the future Interstate- designated segments of the Port-to-Plains Corridor as Interstate Route 27, and for other purposes. <<NOTE: Mar. 22, 2024 - [S. 992]>> Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, <<NOTE: I-27 Numbering Act of 2023.>> SECTION 1. SHORT TITLE. This Act may be cited as the ``I-27 Numbering Act of 2023''. SEC. 2. NUMBERING OF DESIGNATED FUTURE INTERSTATE. (a) In General.--Section 1105(e)(5)(C)(i) of the Intermodal Surface Transportation Efficiency Act of 1991 <<NOTE: 109 Stat. 598.>> (Public Law 102-240) is amended by inserting ``The routes referred to in clause (i) (other than subclauses (V)(aa) and (V)(bb) and subclause (IX)(aa) of that clause) and clause (iv) of subsection (c)(38)(A) are designated as Interstate Route I-27. The route referred to in subsection (c)(38)(A)(i)(V)(aa) is designated as Interstate Route I-27E. The route referred to in subsection (c)(38)(A)(i)(V)(bb) is designated as Interstate Route I-27W. The route referred to in subsection (c)(38)(A)(i)(IX)(aa) is designated as Interstate Route I-127N.'' before ``The route referred to in subsection (c)(45)''. (b) Conforming Amendments.--Section 1105(c)(38)(A)(i) of the Intermodal Surface Transportation Efficiency Act of 1991 (Public Law 102-240) <<NOTE: 114 Stat. 2763A-201; 116 Stat. 1741.>> is amended-- (1) in subclause (V)-- (A) by striking ``Lamesa, the Corridor'' and inserting the following: ``Lamesa-- ``(aa) the Corridor''; and (B) in item (aa) (as so redesignated), by striking ``87 and, the Corridor'' and inserting the following: ``87; and ``(bb) the Corridor''; and (2) in subclause (IX)-- (A) by striking ``(IX) United States Route 287'' and inserting the following: ``(IX)(aa) United States Route 287''; and (B) in item (aa) (as so redesignated), by striking ``Oklahoma, and also United States Route 87'' and inserting the following: ``Oklahoma; and ``(bb) United States Route 87''. Approved March 22, 2024. LEGISLATIVE HISTORY--S. 992 (H.R. 3209): --------------------------------------------------------------------------- HOUSE REPORTS: No. 118-285 (Comm. on Transportation and Infrastructure) accompanying H.R. 3209. CONGRESSIONAL RECORD: Vol. 169 (2023): July 27, considered and passed Senate. Dec. 4, considered and passed House, amended. Vol. 170 (2024): Mar. 7, Senate concurred in House amendment. <all>

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2024-06-24T00:12:34.118151

PLAW-118publ3

Joint resolution relating to a national emergency declared by the President on March 13, 2020.

[118th Congress Public Law 3] [From the U.S. Government Publishing Office] Public Law 118-3 118th Congress Joint Resolution Relating to a national emergency declared by the President on March 13, 2020. <<NOTE: Apr. 10, 2023 - [H.J. Res. 7]>> Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, <<NOTE: 50 USC 1621 note.>> That, pursuant to section 202 of the National Emergencies Act (50 U.S.C. 1622), the national emergency declared by the finding of the President on March 13, 2020, in Proclamation 9994 (85 Fed. Reg. 15337) is hereby terminated. Approved April 10, 2023. LEGISLATIVE HISTORY--H.J. Res. 7: --------------------------------------------------------------------------- CONGRESSIONAL RECORD, Vol. 169 (2023): Feb. 1, considered and passed House. Mar. 29, considered and passed Senate. <all>

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2024-06-24T00:12:34.677962

PLAW-117publ121

American Fisheries Advisory Committee Act

[117th Congress Public Law 121] [From the U.S. Government Publishing Office] [[Page 1187]] AMERICAN FISHERIES ADVISORY COMMITTEE ACT [[Page 131 STAT. 1188]] Public Law 117-121 117th Congress An Act To establish the American Fisheries Advisory Committee to assist in the awarding of fisheries research and development grants, and for other purposes. <<NOTE: May 12, 2022 - [S. 497]>> Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, <<NOTE: American Fisheries Advisory Committee Act.>> SECTION 1. <<NOTE: 15 USC 701 note.>> SHORT TITLE. This Act may be cited as the ``American Fisheries Advisory Committee Act''. SEC. 2. AMERICAN FISHERIES ADVISORY COMMITTEE. (a) Establishment.--Section 2 of the Act of August 11, 1939 (15 U.S.C. 713c-3), is amended-- (1) by redesignating subsection (e) as subsection (f); and (2) by inserting after subsection (d) the following: ``(e) American Fisheries Advisory Committee.-- ``(1) Definitions.--In this subsection: ``(A) Committee.--The term `Committee' means the American Fisheries Advisory Committee established under paragraph (2). ``(B) Fishing community.--The term `fishing community' means harvesters, marketers, growers, processors, recreational fishermen, charter fishermen, and persons providing them with goods and services. ``(C) Marketing and promotion.--The term `marketing and promotion' means an activity aimed at encouraging the consumption of seafood or expanding or maintaining commercial markets for seafood. ``(D) Processor.--The term `processor' means any person in the business of preparing or packaging seafood (including seafood of the processor's own harvesting) for sale. ``(E) Seafood.--The term `seafood' means farm-raised and wild-caught fish, shellfish, or marine algae harvested in the United States or by a United States flagged vessel for human consumption. ``(2) <<NOTE: Deadline. Regions.>> Establishment.--Not later than 90 days after the date of the enactment of the American Fisheries Advisory Committee Act, the Secretary shall establish 6 regions within the American Fisheries Advisory Committee as follows: ``(A) Region 1 shall consist of Alaska, Hawaii, the Commonwealth of the Northern Mariana Islands, and the Territories of Guam and American Samoa. ``(B) Region 2 shall consist of Maine, New Hampshire, Massachusetts, Rhode Island, and Connecticut. [[Page 131 STAT. 1189]] ``(C) Region 3 shall consist of Texas, Alabama, Louisiana, Mississippi, Florida, Arkansas, Puerto Rico, and the Territory of the Virgin Islands of the United States. ``(D) Region 4 shall consist of California, Washington, Oregon, and Idaho. ``(E) Region 5 shall consist of New Jersey, New York, Delaware, Maryland, Virginia, North Carolina, South Carolina, and Georgia. ``(F) Region 6 shall consist of Michigan, Minnesota, Wisconsin, Illinois, Indiana, Ohio, and Pennsylvania. ``(3) Membership.--The Committee shall be composed of the following members: ``(A) Regional representation.--Each of the regions listed in subparagraphs (A) through (F) of paragraph (2) shall be represented on the Committee by 3 members-- ``(i) <<NOTE: Appointments.>> who are appointed by the Secretary; ``(ii) who reside in a State or territory in the region that the member will represent; ``(iii) of which-- ``(I) one shall have experience as a seafood harvester or processor; ``(II) one shall have experience as recreational or commercial fisher or have experience growing seafood; and ``(III) one shall be an individual who represents the fisheries science community or the relevant Regional Fishery Management Council; and ``(iv) that are selected so that the members of the Committee have experience or expertise with as many seafood species as practicable. ``(B) <<NOTE: Appointments.>> At-large members.-- The Secretary shall appoint to the Committee at-large members as follows: ``(i) One individual with experience in food distribution, marketing, retail, or food service. ``(ii) One individual with experience in the recreational fishing industry supply chain, such as fishermen, manufacturers, retailers, and distributors. ``(iii) One individual with experience in the commercial fishing industry supply chain, such as fishermen, manufacturers, retailers, and distributors. ``(iv) One individual who is an employee of the National Marine Fisheries Service with expertise in fisheries research. ``(C) Balanced representation.--In selecting the members described in subparagraphs (A) and (B), the Secretary shall seek to maximize on the Committee, to the extent practicable, a balanced representation of expertise in United States fisheries, seafood production, and science. ``(4) Member terms.--The term for a member of the Committee shall be 3 years, except that the Secretary shall designate staggered terms for the members initially appointed to the Committee. ``(5) Responsibilities.--The Committee shall be responsible for-- ``(A) identifying needs of the fishing community that may be addressed by a project funded with a grant under subsection (c); [[Page 131 STAT. 1190]] ``(B) developing the request for proposals for such grants; ``(C) reviewing applications for such grants; and ``(D) selecting applications for approval under subsection (c)(2)(B). ``(6) Chair.--The Committee shall elect a chair by a majority of those voting, if a quorum is present. ``(7) Quorum.--A simple majority of members of the Committee shall constitute a quorum, but a lesser number may hold hearings. ``(8) Meetings.-- ``(A) Frequency.--The Committee shall meet not more than 2 times each year. ``(B) Location.--The meetings of the Committee shall rotate between the geographic regions described under paragraph (2). ``(C) Minimizing costs.--The Committee shall seek to minimize the operational costs associated with meetings, hearings, or other business of the Committee, including through the use of video or teleconference. ``(9) Designation of staff member.--The Secretary shall designate a staff member to coordinate the activities of the Committee and to assist with administrative and other functions as requested by the Committee. ``(10) <<NOTE: Reimbursements.>> Per diem and expenses and funding.-- ``(A) In general.--A member of the Committee shall serve without compensation, but shall be reimbursed in accordance with section 5703 of title 5, United States Code, for reasonable travel costs and expenses incurred in performing duties as a member of the Committee. ``(B) Funding.--The costs of reimbursements under subparagraph (A) and the other costs associated with the Committee shall be paid from funds made available to carry out this section (which may include funds described in subsection (f)(1)(B)), except that no funds allocated for grants under subsection (f)(1)(A) shall be expended for any purpose under this subsection. ``(11) <<NOTE: Applicability.>> Conflict of interest.--The conflict of interest and recusal provisions set out in section 302(j) of the Magnuson-Stevens Fishery Conservation and Management Act (16 U.S.C. 1852(j)) shall apply to any decision by the Committee and to all members of the Committee as if each member of the Committee is an affected individual within the meaning of such section 302(j), except that in addition to the disclosure requirements of section 302(j)(2)(C) of such Act (16 U.S.C. 1852(j)(2)(C)), each member of the Committee shall disclose any financial interest or relationship in an organization or with an individual that is applying for a grant under subsection (c) held by the member of the Committee, including an interest as an officer, director, trustee, partner, employee, contractor, agent, or other representative. ``(12) Technical review of applications.-- ``(A) <<NOTE: Evaluation.>> In general.--Prior to review of an application for a grant under subsection (c) by the Committee, the Secretary shall obtain an independent written technical evaluation from 3 or more appropriate Federal, private, [[Page 131 STAT. 1191]] or public sector experts (such as industry, academia, or governmental experts) who-- ``(i) have subject matter expertise to determine the technical merit of the proposal in the application; ``(ii) shall independently evaluate each such proposal; and ``(iii) <<NOTE: Certification.>> shall certify that the expert does not have a conflict of interest concerning the application that the expert is reviewing. ``(B) Guidance. <<NOTE: Deadlines.>> --Not later than 180 days after the date of enactment of the American Fisheries Advisory Committee Act, the Secretary shall issue guidance related to carrying out the technical evaluations under subparagraph (A). <<NOTE: Criteria.>> Such guidance shall include criteria for the elimination by the National Oceanic and Atmospheric Administration of applications that fail to meet a minimum level of technical merit as determined by the review described in subparagraph (A).''. (b) Role in Approval of Grants.--Section 2(c)(3) of the Act of August 11, 1939 (15 U.S.C. 713c-3(c)(3)), is amended to read as follows: ``(3)(A) No application for a grant under this subsection may be approved unless the Secretary-- ``(i) is satisfied that the applicant has the requisite technical and financial capability to carry out the project; and ``(ii) <<NOTE: Recommenda- tions. Evaluation.>> based on the recommendations of the American Fisheries Advisory Committee established in subsection (e), evaluates the proposed project as to-- ``(I) soundness of design; ``(II) the possibilities of securing productive results; ``(III) minimization of duplication with other fisheries research and development projects; ``(IV) the organization and management of the project; ``(V) methods proposed for monitoring and evaluating the success or failure of the project; and ``(VI) such other criteria as the Secretary may require. ``(B) <<NOTE: Document.>> If the Secretary fails to provide funds to a grant selected by the American Fisheries Advisory Committee, the Secretary shall provide a written document to the Committee justifying the decision.''. SEC. 3. EXPANSION OF SPECIFIED PURPOSES OF FISHERIES RESEARCH AND DEVELOPMENT PROJECTS GRANTS PROGRAM TO INCLUDE FISHERIES RESEARCH AND DEVELOPMENT PROJECTS. Section 2(c)(1) of the Act of August 11, 1939 (15 U.S.C. 713c- 3(c)(1)), is amended by inserting ``fisheries science, recreational fishing,'' before ``harvesting,''. SEC. 4. PUBLIC AVAILABILITY OF GRANTS PROPOSALS. Section 2(c) of the Act of August 11, 1939 (15 U.S.C. 713c-3(c)), is amended by adding at the end the following: ``(6) <<NOTE: Statement.>> Any person awarded a grant under this subsection shall make publicly available a title and abstract of the project to be carried out by the grant funds that serves as the public justification for funding the project that includes a statement describing how the project serves to enhance United States [[Page 131 STAT. 1192]] fisheries, including harvesting, processing, marketing, and associated infrastructures, if applicable.''. Approved May 12, 2022. LEGISLATIVE HISTORY--S. 497: --------------------------------------------------------------------------- SENATE REPORTS: No. 117-68 (Comm. on Commerce, Science, and Transportation). CONGRESSIONAL RECORD, Vol. 168 (2022): Mar. 10, considered and passed Senate. Apr. 26, considered and passed House. <all>

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2024-06-24T00:12:34.810339

BILLS-118hr8346ih

Return to Work Awareness Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8346 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8346 To assist survivors of stroke and other debilitating health occurrences in returning to work. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 10, 2024 Mrs. Beatty (for herself and Mr. Smith of New Jersey) introduced the following bill; which was referred to the Committee on Education and the Workforce _______________________________________________________________________ A BILL To assist survivors of stroke and other debilitating health occurrences in returning to work. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Return to Work Awareness Act''. SEC. 2. ASSISTING SURVIVORS OF STROKE AND OTHER DEBILITATING HEALTH OCCURRENCES IN RETURNING TO WORK. The Secretary of Labor, acting through the Job Accommodation Network, may disseminate information and promote awareness among survivors of stroke and other debilitating health occurrences, such as traumatic brain injury and heart attack, and the families of such survivors, as well as among private employers, government agencies, employee representatives, and service providers to-- (1) assist survivors of stroke and such other debilitating health occurrences in returning to work; (2) improve survivor's employability and demonstrate to employers the most effective ways to capitalize on the value and talent that these survivors add to the workplace; and (3) enhance self-employment and entrepreneurship options for survivors. <all>

usgpo

2024-06-24T00:12:35.345897

BILLS-118hr8333ih

BIOSECURE Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8333 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8333 To prohibit contracting with certain biotechnology providers, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 10, 2024 Mr. Wenstrup (for himself, Mr. Krishnamoorthi, Mr. Moolenaar, Ms. Eshoo, Mr. Dunn of Florida, Mr. Moulton, Ms. Stefanik, and Mr. Davis of North Carolina) introduced the following bill; which was referred to the Committee on Oversight and Accountability, and in addition to the Permanent Select Committee on Intelligence, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To prohibit contracting with certain biotechnology providers, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``BIOSECURE Act''. SEC. 2. PROHIBITION ON CONTRACTING WITH CERTAIN BIOTECHNOLOGY PROVIDERS. (a) In General.--The head of an executive agency may not-- (1) procure or obtain any biotechnology equipment or service produced or provided by a biotechnology company of concern; or (2) enter into a contract or extend or renew a contract with any entity that-- (A) uses biotechnology equipment or services produced or provided by a biotechnology company of concern and acquired after the applicable effective date in subsection (c) in performance of the contract with the executive agency; or (B) enters into any contract the performance of which such entity knows or has reason to believe will require, in performance of the contract with the executive agency, the use of biotechnology equipment or services produced or provided by a biotechnology company of concern and acquired after the applicable effective date in subsection (c). (b) Prohibition on Loan and Grant Funds.--The head of an executive agency may not obligate or expend loan or grant funds to, and a loan or grant recipient may not use loan or grant funds to-- (1) procure, obtain, or use any biotechnology equipment or services produced or provided by a biotechnology company of concern; or (2) enter into a contract or extend or renew a contract with an entity described in subsection (a)(2). (c) Effective Dates.-- (1) Certain entities.--With respect to the biotechnology companies of concern covered by subsection (f)(2)(A), the prohibitions under subsections (a) and (b) shall take effect 60 days after the issuance of the regulation in subsection (h). (2) Other entities.--With respect to the biotechnology companies of concern covered by subsection (f)(2)(B), the prohibitions under subsections (a) and (b) shall take effect 180 days after the issuance of the regulation in subsection (h). (3) Rules of construction.-- (A) Certain entities.--Prior to January 1, 2032, with respect to biotechnology companies of concern covered by subsections (f)(2)(A), (a)(2), and (b)(2) shall not apply to biotechnology equipment or services produced or provided under a contract or agreement, including currently negotiated contract option years, entered into before the effective date under subsection (c)(1). (B) Other entities.--Prior to the date that is five years after the identification of a biotechnology company of concern covered by subsections (f)(2)(B), (a)(2), and (b)(2) shall not apply to biotechnology equipment or services produced or provided under a contract or agreement entered into before the effective date under subsection (c)(2). (C) Safe harbor.--The term ``biotechnology equipment or services produced or provided by a biotechnology company of concern'' shall not be construed to refer to any biotechnology equipment or services that were formerly, but are no longer, produced or provided by biotechnology companies of concern. (d) Waiver Authorities.-- (1) Specific biotechnology exception.-- (A) Waiver.--The head of the applicable executive agency may waive the prohibition under subsections (a) and (b) on a case-by-case basis-- (i) with the approval of the Director of the Office of Management and Budget, in coordination with the Secretary of Defense; and (ii) if such head submits a notification and justification to the appropriate congressional committees not later than 30 days after granting such waiver. (B) Duration.-- (i) In general.--Except as provided in clause (ii), a waiver granted under subparagraph (A) shall last for a period of not more than 365 days. (ii) Extension.--The head of the applicable executive agency, with the approval of the Director of the Office of Management and Budget, and in coordination with the Secretary of Defense, may extend a waiver granted under subparagraph (A) one time, for a period up to 180 days after the date on which the waiver would otherwise expire, if such an extension is in the national security interests of the United States and if such head submits a notification and justification to the appropriate congressional committees not later than 10 days after granting such waiver extension. (2) Overseas health care services.--The head of an executive agency may waive the prohibitions under subsections (a) and (b) with respect to a contract, subcontract, or transaction for the acquisition or provision of health care services overseas on a case-by-case basis-- (A) if the head of such executive agency determines that the waiver is-- (i) necessary to support the mission or activities of the employees of such executive agency described in subsection (e)(2)(A); and (ii) in the interest of the United States; (B) with the approval of the Director of the Office of Management and Budget, in consultation with the Secretary of Defense; and (C) if such head submits a notification and justification to the appropriate congressional committees not later than 30 days after granting such waiver. (e) Exceptions.--The prohibitions under subsections (a) and (b) shall not apply to-- (1) any activity subject to the reporting requirements under title V of the National Security Act of 1947 (50 U.S.C. 3091 et seq.) or any authorized intelligence activities of the United States; (2) the acquisition or provision of health care services overseas for-- (A) employees of the United States, including members of the uniformed services (as defined in section 101(a) of title 10, United States Code), whose official duty stations are located overseas or are on permissive temporary duty travel overseas; or (B) employees of contractors or subcontractors of the United States-- (i) who are performing under a contract that directly supports the missions or activities of individuals described in subparagraph (A); and (ii) whose primary duty stations are located overseas or are on permissive temporary duty travel overseas; or (3) the acquisition, use, or distribution of human multiomic data, lawfully compiled, that is commercially or publicly available. (f) Evaluation of Certain Biotechnology Entities.-- (1) Entity consideration.--Not later than 365 days after the date of the enactment of this Act, the Director of the Office of Management and Budget shall publish a list of the entities that constitute biotechnology companies of concern based on a list of suggested entities that shall be provided by the Secretary of Defense in coordination with the Attorney General, the Secretary of Health and Human Services, the Secretary of Commerce, the Director of National Intelligence, the Secretary of Homeland Security, the Secretary of State, and the National Cyber Director. (2) Biotechnology companies of concern defined.--The term ``biotechnology company of concern'' means-- (A) BGI, MGI, Complete Genomics, WuXi AppTec, and WuXi Biologics; (B) any entity that is determined by the process established in paragraph (1) to meet the following criteria-- (i) is subject to the administrative governance structure, direction, control, or operates on behalf of the government of a foreign adversary; (ii) is to any extent involved in the manufacturing, distribution, provision, or procurement of a biotechnology equipment or service; and (iii) poses a risk to the national security of the United States based on-- (I) engaging in joint research with, being supported by, or being affiliated with a foreign adversary's military, internal security forces, or intelligence agencies; (II) providing multiomic data obtained via biotechnology equipment or services to the government of a foreign adversary; or (III) obtaining human multiomic data via the biotechnology equipment or services without express and informed consent; and (C) any subsidiary, parent, affiliate, or successor of entities listed in subparagraphs (A) and (B), provided they meet the criteria in subparagraph (B)(i). (3) Guidance.--Not later than 120 days after the date of the enactment of this Act for the biotechnology companies of concern named in paragraph (2)(A), and not later than 180 days after the development of the list pursuant to paragraph (1) and any update to the list pursuant to paragraph (4), the Director of the Office of Management and Budget, in coordination with the Secretary of Defense, the Attorney General, the Secretary of Health and Human Services, the Secretary of Commerce, the Director of National Intelligence, the Secretary of Homeland Security, and the Secretary of State, shall establish guidance as necessary to implement the requirements of this section. (4) Updates.--The Director of the Office of Management and Budget, in coordination with or based on a recommendation provided by the Secretary of Defense, the Attorney General, the Secretary of Health and Human Services, the Secretary of Commerce, the Director of National Intelligence, the Secretary of Homeland Security, and the Secretary of State, shall periodically, though not less than annually, review and, as appropriate, modify the list of biotechnology companies of concern, and notify the appropriate congressional committees of any such modifications. (5) Notice of a designation and review.-- (A) In general.--A notice of a designation as a biotechnology company of concern under paragraph (2)(B) shall be issued to any biotechnology company of concern named in the designation-- (i) advising that a designation has been made; (ii) identifying the criteria relied upon under such subparagraph and, to the extent consistent with national security and law enforcement interests, the information that formed the basis for the designation; (iii) advising that, within 90 days after receipt of notice, the biotechnology company of concern may submit information and argument in opposition to the designation; (iv) describing the procedures governing the review and possible issuance of a designation pursuant to paragraph (1); and (v) where practicable, identifying mitigation steps that could be taken by the biotechnology company of concern that may result in the rescission of the designation. (B) Congressional notification requirements.-- (i) Notice of designation.--The Director of the Office of Management and Budget shall submit the notice required under subparagraph (A) to the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Oversight and Accountability of the House of Representatives. (ii) Information and argument in opposition to designations.--Not later than 7 days after receiving any information and argument in opposition to a designation pursuant to subparagraph (A)(iii), the Director of the Office of Management and Budget shall submit such information to the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Oversight and Accountability of the House of Representatives. (C) Exceptions.--The provisions under subparagraphs (A) and (B) shall not apply to an entity listed under paragraph (2)(A). (6) No immediate public release.--Any designation made under paragraph (1) or paragraph (4) shall not be made publicly available until the Director of the Office of Management and Budget, in coordination with appropriate agencies, reviews all information submitted under paragraph (5)(A)(iii) and issues a final determination that a company shall remain listed as a biotechnology company of concern. (g) Evaluation of National Security Risks Posed by Foreign Adversary Acquisition of American Multiomic Data.-- (1) Assessment.--Not later than 270 days after the enactment of this Act, the Director of National Intelligence, in consultation with the Secretary of Defense, the Attorney General of the United States, the Secretary of Health and Human Services, the Secretary of Commerce, the Secretary of Homeland Security, and the Secretary of State, shall complete an assessment of risks to national security posed by human multiomic data from United States citizens that is collected or stored by a foreign adversary from the provision of biotechnology equipment or services. (2) Report requirement.--Not later than 30 days after the completion of the assessment developed under paragraph (1), the Director of National Intelligence shall submit a report with such assessment to the appropriate congressional committees. (3) Form.--The report required under paragraph (2) shall be in unclassified form accompanied by a classified annex. (h) Regulations.--Not later than one year after the date of establishment of guidance required under subsection (f)(3), and as necessary for subsequent updates, the Federal Acquisition Regulatory Council shall revise the Federal Acquisition Regulation as necessary to implement the requirements of this section. (i) Reporting on Intelligence on Nefarious Activities of Biotechnology Companies With Human Multiomic Data.--Not later than 180 days after the date of the enactment of this Act, and annually thereafter, the Director of National Intelligence, in consultation with the heads of executive agencies, shall submit to the appropriate congressional committees a report on any intelligence in possession of such agencies related to nefarious activities conducted by biotechnology companies with human multiomic data. The report shall include information pertaining to potential threats to national security or public safety from the selling, reselling, licensing, trading, transferring, sharing, or otherwise providing or making available to any foreign country of any forms of multiomic data of a United States citizen. (j) No Additional Funds.--No additional funds are authorized to be appropriated for the purpose of carrying out this section. (k) Definitions.--In this section: (1) Appropriate congressional committees.--The term ``appropriate congressional committees'' means-- (A) the Committee on Armed Services and the Committee on Homeland Security and Governmental Affairs of the Senate; and (B) the Committee on Armed Services, the Committee on Foreign Affairs, the Committee on Oversight and Accountability, the Committee on Energy and Commerce, and the Select Committee on Strategic Competition between the United States and the Chinese Communist Party of the House of Representatives. (2) Biotechnology equipment or service.--The term ``biotechnology equipment or service'' means-- (A) equipment, including genetic sequencers, combined mass spectrometry technologies, polymerase chain reaction machines, or any other instrument, apparatus, machine, or device, including components and accessories thereof, that is designed for use in the research, development, production, or analysis of biological materials as well as any software, firmware, or other digital components that are specifically designed for use in, and necessary for the operation of, such equipment; (B) any service for the research, development, production, analysis, detection, or provision of information, including data storage and transmission related to biological materials, including-- (i) advising, consulting, or support services with respect to the use or implementation of a instrument, apparatus, machine, or device described in subparagraph (A); and (ii) disease detection, genealogical information, and related services; and (C) any other service, instrument, apparatus, machine, component, accessory, device, software, or firmware that is designed for use in the research, development, production, or analysis of biological materials that the Director of the Office of Management and Budget, in consultation with the heads of Executive agencies, as determined appropriate by the Director of the Office of Management and Budget, determines appropriate in the interest of national security. (3) Contract.--The term ``contract'' means any contract subject to the Federal Acquisition Regulation issued under section 1303(a)(1) of title 41, United States Code. (4) Control.--The term ``control'' has the meaning given to that term in section 800.208 of title 31, Code of Federal Regulations, or any successor regulations. (5) Executive agency.--The term ``executive agency'' has the meaning given the term ``Executive agency'' in section 105 of title 5, United States Code. (6) Foreign adversary.--The term ``foreign adversary'' has the meaning given the term ``covered nation'' in section 4872(d) of title 10, United States Code. (7) Multiomic.--The term ``multiomic'' means data types that include genomics, epigenomics, transcriptomics, proteomics, and metabolomics. (8) Overseas.--The term ``overseas'' means any area outside of the United States, the Commonwealth of Puerto Rico, or a territory or possession of the United States. <all>

usgpo

2024-06-24T00:12:35.357641

CFR-2023-title12-vol2

Banks and Banking

[Title 12 CFR ] [Code of Federal Regulations (annual edition) - January 1, 2023 Edition] [From the U.S. Government Publishing Office] [[Page i]] Title 12 Banks and Banking ________________________ Parts 200 to 219 Revised as of January 1, 2023 Containing a codification of documents of general applicability and future effect As of January 1, 2023 Published by the Office of the Federal Register National Archives and Records Administration as a Special Edition of the Federal Register [[Page ii]] U.S. GOVERNMENT OFFICIAL EDITION NOTICE Legal Status and Use of Seals and Logos The seal of the National Archives and Records Administration (NARA) authenticates the Code of Federal Regulations (CFR) as the official codification of Federal regulations established under the Federal Register Act. Under the provisions of 44 U.S.C. 1507, the contents of the CFR, a special edition of the Federal Register, shall be judicially noticed. The CFR is prima facie evidence of the original documents published in the Federal Register (44 U.S.C. 1510). It is prohibited to use NARA's official seal and the stylized Code of Federal Regulations logo on any republication of this material without the express, written permission of the Archivist of the United States or the Archivist's designee. Any person using NARA's official seals and logos in a manner inconsistent with the provisions of 36 CFR part 1200 is subject to the penalties specified in 18 U.S.C. 506, 701, and 1017. Use of ISBN Prefix This is the Official U.S. Government edition of this publication and is herein identified to certify its authenticity. Use of the 0-16 ISBN prefix is for U.S. Government Publishing Office Official Editions only. The Superintendent of Documents of the U.S. Government Publishing Office requests that any reprinted edition clearly be labeled as a copy of the authentic work with a new ISBN. U . S . G O V E R N M E N T P U B L I S H I N G O F F I C E ------------------------------------------------------------------ U.S. Superintendent of Documents Washington, DC 20402-0001 http://bookstore.gpo.gov Phone: toll-free (866) 512-1800; DC area (202) 512-1800 [[Page iii]] Table of Contents Page Explanation................................................. v Title 12: Chapter II--Federal Reserve System 3 Finding Aids: Table of CFR Titles and Chapters........................ 663 Alphabetical List of Agencies Appearing in the CFR...... 683 List of CFR Sections Affected........................... 693 [[Page iv]] ---------------------------- Cite this Code: CFR To cite the regulations in this volume use title, part and section number. Thus, 12 CFR 201.1 refers to title 12, part 201, section 1. ---------------------------- [[Page v]] EXPLANATION The Code of Federal Regulations is a codification of the general and permanent rules published in the Federal Register by the Executive departments and agencies of the Federal Government. The Code is divided into 50 titles which represent broad areas subject to Federal regulation. Each title is divided into chapters which usually bear the name of the issuing agency. Each chapter is further subdivided into parts covering specific regulatory areas. Each volume of the Code is revised at least once each calendar year and issued on a quarterly basis approximately as follows: Title 1 through Title 16.................................as of January 1 Title 17 through Title 27..................................as of April 1 Title 28 through Title 41...................................as of July 1 Title 42 through Title 50................................as of October 1 The appropriate revision date is printed on the cover of each volume. LEGAL STATUS The contents of the Federal Register are required to be judicially noticed (44 U.S.C. 1507). The Code of Federal Regulations is prima facie evidence of the text of the original documents (44 U.S.C. 1510). HOW TO USE THE CODE OF FEDERAL REGULATIONS The Code of Federal Regulations is kept up to date by the individual issues of the Federal Register. These two publications must be used together to determine the latest version of any given rule. To determine whether a Code volume has been amended since its revision date (in this case, January 1, 2023), consult the ``List of CFR Sections Affected (LSA),'' which is issued monthly, and the ``Cumulative List of Parts Affected,'' which appears in the Reader Aids section of the daily Federal Register. These two lists will identify the Federal Register page number of the latest amendment of any given rule. EFFECTIVE AND EXPIRATION DATES Each volume of the Code contains amendments published in the Federal Register since the last revision of that volume of the Code. Source citations for the regulations are referred to by volume number and page number of the Federal Register and date of publication. Publication dates and effective dates are usually not the same and care must be exercised by the user in determining the actual effective date. In instances where the effective date is beyond the cut-off date for the Code a note has been inserted to reflect the future effective date. In those instances where a regulation published in the Federal Register states a date certain for expiration, an appropriate note will be inserted following the text. OMB CONTROL NUMBERS The Paperwork Reduction Act of 1980 (Pub. L. 96-511) requires Federal agencies to display an OMB control number with their information collection request. [[Page vi]] Many agencies have begun publishing numerous OMB control numbers as amendments to existing regulations in the CFR. These OMB numbers are placed as close as possible to the applicable recordkeeping or reporting requirements. PAST PROVISIONS OF THE CODE Provisions of the Code that are no longer in force and effect as of the revision date stated on the cover of each volume are not carried. Code users may find the text of provisions in effect on any given date in the past by using the appropriate List of CFR Sections Affected (LSA). For the convenience of the reader, a ``List of CFR Sections Affected'' is published at the end of each CFR volume. For changes to the Code prior to the LSA listings at the end of the volume, consult previous annual editions of the LSA. For changes to the Code prior to 2001, consult the List of CFR Sections Affected compilations, published for 1949-1963, 1964-1972, 1973-1985, and 1986-2000. ``[RESERVED]'' TERMINOLOGY The term ``[Reserved]'' is used as a place holder within the Code of Federal Regulations. An agency may add regulatory information at a ``[Reserved]'' location at any time. Occasionally ``[Reserved]'' is used editorially to indicate that a portion of the CFR was left vacant and not dropped in error. INCORPORATION BY REFERENCE What is incorporation by reference? Incorporation by reference was established by statute and allows Federal agencies to meet the requirement to publish regulations in the Federal Register by referring to materials already published elsewhere. For an incorporation to be valid, the Director of the Federal Register must approve it. The legal effect of incorporation by reference is that the material is treated as if it were published in full in the Federal Register (5 U.S.C. 552(a)). This material, like any other properly issued regulation, has the force of law. What is a proper incorporation by reference? The Director of the Federal Register will approve an incorporation by reference only when the requirements of 1 CFR part 51 are met. Some of the elements on which approval is based are: (a) The incorporation will substantially reduce the volume of material published in the Federal Register. (b) The matter incorporated is in fact available to the extent necessary to afford fairness and uniformity in the administrative process. (c) The incorporating document is drafted and submitted for publication in accordance with 1 CFR part 51. What if the material incorporated by reference cannot be found? If you have any problem locating or obtaining a copy of material listed as an approved incorporation by reference, please contact the agency that issued the regulation containing that incorporation. If, after contacting the agency, you find the material is not available, please notify the Director of the Federal Register, National Archives and Records Administration, 8601 Adelphi Road, College Park, MD 20740-6001, or call 202-741-6010. CFR INDEXES AND TABULAR GUIDES A subject index to the Code of Federal Regulations is contained in a separate volume, revised annually as of January 1, entitled CFR Index and Finding Aids. This volume contains the Parallel Table of Authorities and Rules. A list of CFR titles, chapters, subchapters, and parts and an alphabetical list of agencies publishing in the CFR are also included in this volume. An index to the text of ``Title 3--The President'' is carried within that volume. [[Page vii]] The Federal Register Index is issued monthly in cumulative form. This index is based on a consolidation of the ``Contents'' entries in the daily Federal Register. A List of CFR Sections Affected (LSA) is published monthly, keyed to the revision dates of the 50 CFR titles. REPUBLICATION OF MATERIAL There are no restrictions on the republication of material appearing in the Code of Federal Regulations. INQUIRIES For a legal interpretation or explanation of any regulation in this volume, contact the issuing agency. The issuing agency's name appears at the top of odd-numbered pages. For inquiries concerning CFR reference assistance, call 202-741-6000 or write to the Director, Office of the Federal Register, National Archives and Records Administration, 8601 Adelphi Road, College Park, MD 20740-6001 or e-mail fedreg.info@nara.gov. SALES The Government Publishing Office (GPO) processes all sales and distribution of the CFR. For payment by credit card, call toll-free, 866-512-1800, or DC area, 202-512-1800, M-F 8 a.m. to 4 p.m. e.s.t. or fax your order to 202-512-2104, 24 hours a day. For payment by check, write to: US Government Publishing Office - New Orders, P.O. Box 979050, St. Louis, MO 63197-9000. ELECTRONIC SERVICES The full text of the Code of Federal Regulations, the LSA (List of CFR Sections Affected), The United States Government Manual, the Federal Register, Public Laws, Public Papers of the Presidents of the United States, Compilation of Presidential Documents and the Privacy Act Compilation are available in electronic format via www.govinfo.gov. For more information, contact the GPO Customer Contact Center, U.S. Government Publishing Office. Phone 202-512-1800, or 866-512-1800 (toll- free). E-mail, ContactCenter@gpo.gov. The Office of the Federal Register also offers a free service on the National Archives and Records Administration's (NARA) website for public law numbers, Federal Register finding aids, and related information. Connect to NARA's website at www.archives.gov/federal-register. The eCFR is a regularly updated, unofficial editorial compilation of CFR material and Federal Register amendments, produced by the Office of the Federal Register and the Government Publishing Office. It is available at www.ecfr.gov. Oliver A. Potts, Director, Office of the Federal Register January 1, 2023 [[Page ix]] THIS TITLE Title 12--Banks and Banking is composed of ten volumes. The parts in these volumes are arranged in the following order: Parts 1-199, 200-219, 220-229, 230-299, 300-346, 347-599, 600-899, 900-1025, 1026-1099, and 1100-End. The contents of these volumes represent all current regulations codified under this title of the CFR as of January 1, 2023. For this volume, Gabrielle E. Burns was Chief Editor. The Code of Federal Regulations publication program is under the direction of John Hyrum Martinez, assisted by Stephen J. Frattini. [[Page 1]] TITLE 12--BANKS AND BANKING (This book contains parts 200 to 219) -------------------------------------------------------------------- Part chapter ii--Federal Reserve System.......................... 201 [[Page 3]] CHAPTER II--FEDERAL RESERVE SYSTEM -------------------------------------------------------------------- SUBCHAPTER A--BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Part Page 200 [Reserved] 201 Extensions of credit by Federal Reserve banks (Regulation A).................... 5 202 Equal Credit Opportunity Act (Regulation B). 17 203 [Reserved] 204 Reserve requirements of depository institutions (Regulation D)............. 74 205 Electronic fund transfers (Regulation E).... 108 206 Limitations on interbank liabilities (Regulation F).......................... 171 207 Disclosure and reporting of CRA-related agreements (Regulation G)............... 175 208 Membership of State banking institutions in the Federal Reserve System (Regulation H)...................................... 188 209 Federal Reserve Bank capital stock (Regulation I).......................... 259 210 Collection of checks and other items by Federal Reserve banks and funds transfers through the FEDWIRE funds service and the FEDNOW service (Regulation J).......................... 264 211 International banking operations (Regulation K)...................................... 313 212 Management official interlocks.............. 362 213 Consumer leasing (Regulation M)............. 366 214 Relations with foreign banks and bankers (Regulation N).......................... 393 215 Loans to executive officers, directors, and principal shareholders of member banks (Regulation O).......................... 395 216 [Reserved] 217 Capital adequacy of bank holding companies, savings and loan holding companies, and state member banks (Regulation Q)....... 406 218 Exceptions for banks from the definition of broker in the Securities Exchange Act of 1934 (Regulation R)..................... 640 219 Reimbursement for providing financial records; recordkeeping requirements for certain financial records (Regulation S) 654 [[Page 4]] Supplementary Publications: The Federal Reserve Act, as amended through December 31, 1976, with an Appendix containing provisions of certain other statutes affecting the Federal Reserve System. Rules of Organization and Procedure--Board of Governors of the Federal Reserve System. Regulations of the Board of Governors of the Federal Reserve System. The Federal Reserve System--Purposes and Functions. Annual Report. Federal Reserve Bulletin. Monthly. Federal Reserve Chart Book Quarterly; Historical Chart Book issued in September. [[Page 5]] SUBCHAPTER A_BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM PART 200 [RESERVED] PART 201_EXTENSIONS OF CREDIT BY FEDERAL RESERVE BANKS (REGULATION A)- -Table of Contents Sec. 201.1 Authority, purpose and scope. 201.2 Definitions. 201.3 Extensions of credit generally. 201.4 Availability and terms of credit. 201.5 Limitations on availability and assessments. 201.51 Interest rates applicable to credit extended by a Federal Reserve Bank. Interpretations 201.104 Eligibility of consumer loans and finance company paper. 201.107 Eligibility of demand paper for discount and as security for advances by Reserve Banks. 201.108 Obligations eligible as collateral for advances. 201.109 Eligibility for discount of mortgage company notes. 201.110 Goods held by persons employed by owner. Authority: 12 U.S.C. 248(i)-(j), 343 et seq., 347a, 347b, 347c, 348 et seq., 357, 374, 374a, and 461. Source: 45 FR 54010, Aug. 14, 1980, unless otherwise noted. Sec. 201.1 Authority, purpose and scope. (a) Authority. This part is issued under the authority of sections 10A, 10B, 11(i), 11(j), 13, 13A, 14(d), and 19 of the Federal Reserve Act (12 U.S.C. 248(i)-(j), 343 et seq., 347a, 347b, 347c, 348 et seq., 357, 374, 374a, and 461). (b) Purpose and scope. This part establishes rules under which a Federal Reserve Bank may extend credit to depository institutions and others. Except as otherwise provided, this part applies to United States branches and agencies of foreign banks that are subject to reserve requirements under Regulation D (12 CFR part 204) in the same manner and to the same extent as this part applies to depository institutions. The Federal Reserve System extends credit with due regard to the basic objectives of monetary policy and the maintenance of a sound and orderly financial system. [Reg. A, 67 FR 67785, Nov. 7, 2002] Sec. 201.2 Definitions. For purposes of this part, the following definitions shall apply: (a) Appropriate federal banking agency has the same meaning as in section 3 of the Federal Deposit Insurance Act (FDI Act) (12 U.S.C. 1813(q)). (b) Critically undercapitalized insured depository institution means any insured depository institution as defined in section 3 of the FDI Act (12 U.S.C. 1813(c)(2)) that is deemed to be critically undercapitalized under section 38 of the FDI Act (12 U.S.C. 1831o(b)(1)(E)) and its implementing regulations. (c)(1) Depository institution means an institution that maintains reservable transaction accounts or nonpersonal time deposits and is: (i) An insured bank as defined in section 3 of the FDI Act (12 U.S.C. 1813(h)) or a bank that is eligible to make application to become an insured bank under section 5 of such act (12 U.S.C. 1815); (ii) A mutual savings bank as defined in section 3 of the FDI Act (12 U.S.C. 1813(f)) or a bank that is eligible to make application to become an insured bank under section 5 of such act (12 U.S.C. 1815); (iii) A savings bank as defined in section 3 of the FDI Act (12 U.S.C. 1813(g)) or a bank that is eligible to make application to become an insured bank under section 5 of such act (12 U.S.C. 1815); (iv) An insured credit union as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752(7)) or a credit union that is eligible to make application to become an insured credit union pursuant to section 201 of such act (12 U.S.C. 1781); (v) A member as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422(4)); or (vi) A savings association as defined in section 3 of the FDI Act (12 U.S.C. 1813(b)) that is an insured depository [[Page 6]] institution as defined in section 3 of the act (12 U.S.C. 1813(c)(2)) or is eligible to apply to become an insured depository institution under section 5 of the act (12 U.S.C. 15(a)). (2) The term depository institution does not include a financial institution that is not required to maintain reserves under Sec. 204.1(c)(4) of Regulation D (12 CFR 204.1(c)(4)) because it is organized solely to do business with other financial institutions, is owned primarily by the financial institutions with which it does business, and does not do business with the general public. (d) Transaction account and nonpersonal time deposit have the meanings specified in Regulation D (12 CFR part 204). (e) Undercapitalized insured depository institution means any insured depository institution as defined in section 3 of the FDI Act (12 U.S.C. 1813(c)(2)) that: (1) Is not a critically undercapitalized insured depository institution; and (2)(i) Is deemed to be undercapitalized under section 38 of the FDI Act (12 U.S.C. 1831o(b)(1)(C)) and its implementing regulations; or (ii) Has received from its appropriate federal banking agency a composite CAMELS rating of 5 under the Uniform Financial Institutions Rating System (or an equivalent rating by its appropriate federal banking agency under a comparable rating system) as of the most recent examination of such institution. (f) Viable, with respect to a depository institution, means that the Board of Governors or the appropriate federal banking agency has determined, giving due regard to the economic conditions and circumstances in the market in which the institution operates, that the institution is not critically undercapitalized, is not expected to become critically undercapitalized, and is not expected to be placed in conservatorship or receivership. Although there are a number of criteria that may be used to determine viability, the Board of Governors believes that ordinarily an undercapitalized insured depository institution is viable if the appropriate federal banking agency has accepted a capital restoration plan for the depository institution under 12 U.S.C. 1831o(e)(2) and the depository institution is complying with that plan. [Reg. A, 67 FR 67785, Nov. 7, 2002] Sec. 201.3 Extensions of credit generally. (a) Advances to and discounts for a depository institution. (1) A Federal Reserve Bank may lend to a depository institution either by making an advance secured by acceptable collateral under Sec. 201.4 of this part or by discounting certain types of paper. A Federal Reserve Bank generally extends credit by making an advance. (2) An advance to a depository institution must be secured to the satisfaction of the Federal Reserve Bank that makes the advance. Satisfactory collateral generally includes United States government and federal-agency securities, and, if of acceptable quality, mortgage notes covering one-to four-family residences, state and local government securities, and business, consumer, and other customer notes. (3) If a Federal Reserve Bank concludes that a discount would meet the needs of a depository institution or an institution described in section 13A of the Federal Reserve Act (12 U.S.C. 349) more effectively, the Reserve Bank may discount any paper indorsed by the institution, provided the paper meets the requirements specified in the Federal Reserve Act. (b) No obligation to make advances or discounts. This section does not entitle any person or entity to obtain any credit or any increase, renewal or extension of maturity of any credit from a Federal Reserve Bank. (c) Information requirements. (1) Before extending credit to a depository institution, a Federal Reserve Bank should determine if the institution is an undercapitalized insured depository institution or a critically undercapitalized insured depository institution and, if so, follow the lending procedures specified in Sec. 201.5. (2) Each Federal Reserve Bank shall require any information it believes appropriate or desirable to ensure that assets tendered as collateral for advances or for discount are acceptable and that the borrower uses the credit provided in a manner consistent with this part. [[Page 7]] (3) Each Federal Reserve Bank shall: (i) Keep itself informed of the general character and amount of the loans and investments of a depository institution as provided in section 4(8) of the Federal Reserve Act (12 U.S.C. 301); and (ii) Consider such information in determining whether to extend credit. (d) Indirect credit for others. Except for depository institutions that receive primary credit as described in Sec. 201.4(a), no depository institution shall act as the medium or agent of another depository institution in receiving Federal Reserve credit except with the permission of the Federal Reserve Bank extending credit. [Reg. A, 67 FR 67786, Nov. 7, 2002, as amended at 74 FR 65016, Dec. 9, 2009; 80 FR 78965, Dec. 18, 2015; 83 FR 21168, May 9, 2018] Sec. 201.4 Availability and terms of credit. (a) Primary credit. A Federal Reserve Bank may extend primary credit on a very short-term basis, usually overnight, as a backup source of funding to a depository institution that is in generally sound financial condition in the judgment of the Reserve Bank. Such primary credit ordinarily is extended with minimal administrative burden on the borrower. A Federal Reserve Bank also may extend primary credit with maturities up to a few weeks as a backup source of funding to a depository institution if, in the judgment of the Reserve Bank, the depository institution is in generally sound financial condition and cannot obtain such credit in the market on reasonable terms. Credit extended under the primary credit program is granted at the primary credit rate. (b) Secondary credit. A Federal Reserve Bank may extend secondary credit on a very short-term basis, usually overnight, as a backup source of funding to a depository institution that is not eligible for primary credit if, in the judgment of the Reserve Bank, such a credit extension would be consistent with a timely return to a reliance on market funding sources. A Federal Reserve Bank also may extend longer-term secondary credit if the Reserve Bank determines that such credit would facilitate the orderly resolution of serious financial difficulties of a depository institution. Credit extended under the secondary credit program is granted at a rate above the primary credit rate. (c) Seasonal credit. A Federal Reserve Bank may extend seasonal credit for periods longer than those permitted under primary credit to assist a smaller depository institution in meeting regular needs for funds arising from expected patterns of movement in its deposits and loans. An interest rate that varies with the level of short-term market interest rates is applied to seasonal credit. (1) A Federal Reserve Bank may extend seasonal credit only if: (i) The depository institution's seasonal needs exceed a threshold that the institution is expected to meet from other sources of liquidity (this threshold is calculated as a certain percentage, established by the Board of Governors, of the institution's average total deposits in the preceding calendar year); and (ii) The Federal Reserve Bank is satisfied that the institution's qualifying need for funds is seasonal and will persist for at least four weeks. (2) The Board may establish special terms for seasonal credit when depository institutions are experiencing unusual seasonal demands for credit in a period of liquidity strain. (d) Emergency credit for others--(1) Authorization to extend credit. In unusual and exigent circumstances, the Board, by the affirmative vote of not less than five members,\1\ may authorize any Federal Reserve Bank, subject to such conditions and during such periods as the Board may determine, to extend credit to any participant in a program or facility with broad-based eligibility established and operated in accordance with this paragraph (d). --------------------------------------------------------------------------- \1\ Unless fewer are authorized pursuant to section 11(r) of the Federal Reserve Act. 12 U.S.C. 248(r). --------------------------------------------------------------------------- (2) Approval of the Secretary of the Treasury. A program or facility may not be established under this paragraph (d) without obtaining the prior approval of the Secretary of the Treasury. (3) Disclosure of justification and terms. As soon as is reasonably practicable, [[Page 8]] and no later than 7 days after a program or facility is authorized under this paragraph (d), the Board and the authorized Federal Reserve Bank or Federal Reserve Banks, as appropriate, will make publicly available a description of the program or facility, a description of the market or sector of the financial system to which the program or facility is intended to provide liquidity, a description of the unusual and exigent circumstances that exist, the intended effect of the program or facility, and the terms and conditions for participation in the program or facility. In addition, within the same 7-day period, the Board will provide a copy of this information to the Committee on Banking, Housing and Urban Affairs of the U.S. Senate and the Committee on Financial Services of the U.S. House of Representatives. (4) Broad-based eligibility. (i) A program or facility established under this paragraph (d) must have broad-based eligibility in accordance with terms established by the Board. (ii) For purposes of this paragraph (d), a program or facility has broad-based eligibility only if the program or facility is designed to provide liquidity to an identifiable market or sector of the financial system; (iii) A program or facility will not be considered to have broad- based eligibility for purposes of this paragraph (d) if: (A) The program or facility is designed for the purpose of assisting one or more specific companies avoid bankruptcy, resolution under Title II of Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203, 12 U.S.C. 5381 et seq.), or any other Federal or State insolvency proceeding, including by removing assets from the balance sheet of one or more such company; (B) The program or facility is designed for the purpose of aiding one or more failing financial companies; or (C) Fewer than five persons or entities would be eligible to participate in the program or facility. (iv) A Federal Reserve Bank may extend credit through a program or facility with broad-based eligibility established under this paragraph (d) through such mechanism or vehicle as the Board determines would facilitate the extension of such credit. (5) Insolvency. (i) A Federal Reserve Bank may not extend credit through a program or facility established under this paragraph (d) to any person or entity that is insolvent or to any person or entity that is borrowing for the purpose of lending the proceeds of the loan to a person or entity that is insolvent. (ii) Before extending credit through a program or facility established under this paragraph (d) to any person or entity, the Federal Reserve Bank must obtain evidence that the person or entity is not insolvent. (iii) A person or entity is ``insolvent'' for purposes of this paragraph (d) if: (A) The person or entity is in bankruptcy, resolution under Title II of Public Law 111-203 (12 U.S.C. 5381 et seq.) or any other Federal or State insolvency proceeding; (B) The person or entity is generally not paying its undisputed debts as they become due during the 90 days preceding the date of borrowing under the program or facility; or (C) The Board or Federal Reserve Bank otherwise determines that the person or entity is insolvent. (iv) For purposes of meeting the requirements of this paragraph (d)(5), the Board or Federal Reserve Bank, as relevant, may rely on: (A) A written certification from the person or from the chief executive officer or other authorized officer of the entity, at the time the person or entity initially borrows under the program or facility, that the person or entity is not in bankruptcy, resolution under Title II of Public Law 111-203 (12 U.S.C. 5381 et seq.) or any other Federal or State insolvency proceeding, and has not failed to generally pay its undisputed debts as they become due during the 90 days preceding the date of borrowing under the program or facility; (B) Recent audited financial statements of the person or entity; or (C) Other information that the Board or the Federal Reserve Bank may determine to be relevant. (v) A person or officer (or successor of either) that submits a written certification under this subparagraph must immediately notify the lending [[Page 9]] Federal Reserve Bank if the information in the certification changes. (vi) Upon a finding by the Board or a Federal Reserve Bank that a participant, including a participant that has provided a certification under this paragraph (d)(5), is or has become insolvent, that participant is not eligible for any new extension of credit from a program or facility established under this paragraph (d) until such time as the Board or a Federal Reserve Bank determines that such participant is no longer insolvent. (vii) If a participant or person has provided a certification under this paragraph (d)(5) or paragraph (d)(8)(ii) of this section that includes a knowing material misrepresentation in the certification, all extensions of credit made pursuant to this paragraph (d) that are outstanding to the relevant participant shall become immediately due and payable, and all accrued interest, fees and penalties shall become immediately due and payable. The Board or the lending Federal Reserve Bank will also refer the matter to the relevant law enforcement authorities for investigation and action in accordance with applicable criminal and civil law. (6) Indorsement or other security. (i) All credit extended under a program or facility established under this paragraph (d) must be indorsed or otherwise secured, in each case, to the satisfaction of the lending Federal Reserve Bank. (ii) In determining whether an extension of credit under any program or facility established under this paragraph (d) is secured to its satisfaction, a Federal Reserve Bank must, prior to or at the time the credit is initially extended, assign a lendable value to all collateral for the program or facility, consistent with sound risk management practices and to ensure protection for the taxpayer. (7) Penalty rate and fees. (i) The Board will determine the interest rate to be charged on any credit extended through a program or facility established under this section in accordance with this paragraph (d) and the provisions of section 14, subdivision (d) of the Federal Reserve Act (12 U.S.C. 357). The Board may determine the interest rate by auction or such other method as the Board determines in accordance with section 14, subdivision (d) of the Federal Reserve Act (12 U.S.C. 357). (ii) The interest rate established for credit extended through a program or facility established under this section will be set at a penalty level that: (A) Is a premium to the market rate in normal circumstances; (B) Affords liquidity in unusual and exigent circumstances; and (C) Encourages repayment of the credit and discourages use of the program or facility as the unusual and exigent circumstances that motivated the program or facility recede and economic conditions normalize. (iii) In determining the rate, the Board will consider the condition of affected markets and the financial system generally, the historical rate of interest for loans of comparable terms and maturity during normal times, the purpose of the program or facility, the risk of repayment, the collateral supporting the credit, the duration, terms and amount of the credit, and any other factor that the Board determines to be relevant to ensuring that the taxpayer is appropriately compensated for the risks associated with the credit extended under the program or facility and the purposes of this paragraph (d) are fulfilled. (iv) In addition to the rate established and charged under this paragraph (d)(7), the Board may require the payment of any fees, penalties, charges or other consideration the Board determines to be appropriate to protect and appropriately compensate the taxpayer for the risks associated with the credit extended under the program or facility. (8) Evidence regarding unavailability of adequate credit accommodation. (i) Each lending Federal Reserve Bank must obtain evidence that, under the prevailing circumstances, participants in a program or facility established under this paragraph (d) are unable to secure adequate credit accommodations from other banking institutions. (ii) Evidence required under this paragraph (d)(8) may be based on economic conditions in the market or markets intended to be addressed by the program or facility, a written certification from the person or from the chief executive officer or other authorized officer of the entity at the time [[Page 10]] the person or entity initially borrows under the program or facility, or other evidence from participants or other sources. (9) Termination of program or facility. (i) A program or facility established under this paragraph (d) shall cease extending new credit no later than one year after the date of the first extension of credit under the program or facility or the date of any extension of the program or facility by the Board under paragraph (d)(9)(ii) of this section. (ii) A program or facility may be renewed upon the vote of not less than five members of the Board \2\ that unusual and exigent circumstances continue to exist and the program or facility continues to appropriately provide liquidity to the financial system, and the approval of the Secretary of the Treasury. --------------------------------------------------------------------------- \2\ Unless fewer are authorized pursuant to section 11(r) of the Federal Reserve Act. 12 U.S.C. 248(r). --------------------------------------------------------------------------- (iii) The Board shall make the disclosures required under paragraph (d)(3) of this section to the public and the relevant congressional committees no later than 7 days after renewing a program or facility under this paragraph (d)(9). (iv) The Board may at any time terminate a program or facility established under this paragraph (d). To ensure that the program or facility under this paragraph (d) is terminated in a timely and orderly fashion, the Board will periodically review, no less frequently than once every 6 months, the existence of unusual and exigent circumstances, the extent of usage of the program or facility, the extent to which the continuing authorization of the program or facility facilitates restoring or sustaining confidence in the identified financial markets, the ongoing need for the liquidity support provided by such program or facility, and such other factors as the Board may deem to be appropriate. The Board will terminate lending under a program or facility promptly upon finding that conditions no longer warrant the continuation of the program or facility or that continuation of the program or facility is no longer appropriate. (v) A program or facility that has been terminated will cease extending new credit and will collect existing loans pursuant to the applicable terms and conditions. (10) Reporting requirements. The Board will comply with the reporting requirements of 12 U.S.C. 248(s) and 12 U.S.C. 343(3)(C) pursuant to their terms. (11) No obligation to extend credit. This paragraph (d) does not entitle any person or entity to obtain any credit or any increase, renewal or extension of maturity of any credit from a Federal Reserve Bank. (12) Participation in programs and facilities and vendor selection. (i) Participation in any program or facility under this paragraph (d) shall not be limited or conditioned on the basis of any legally prohibited basis, such as the race, religion, color, gender, national origin, age or disability of the borrower. (ii) The selection of any third-party vendor used in the design, marketing or implementation of any program or facility under this paragraph (d) shall be without regard to the race, religion, color, gender, national origin, age or disability of the vendor or any principal shareholder of the vendor, and, to the extent possible and consistent with law, shall involve a process designed to support equal opportunity and diversity. (13) Short-term emergency credit secured solely by United States or agency obligations. In unusual and exigent circumstances and after consultation with the Board, a Federal Reserve Bank may extend credit under section 13(13) of the Federal Reserve Act if the collateral used to secure such credit consists solely of obligations of, or obligations fully guaranteed as to principal and interest by, the United States or an agency thereof. Prior to extending credit under this paragraph (d)(13), the Federal Reserve Bank must obtain evidence that credit is not available from other sources and failure to obtain such credit would adversely affect the economy. Credit extended under this paragraph (d)(13) may not be extended for a term exceeding 90 days, must be extended at a rate above the highest rate in effect for advances to depository institutions as determined in accordance with section 14(d) of the [[Page 11]] Federal Reserve Act, and is subject to such limitations and conditions as provided by the Board. (e) Term auction facility. (1) A Federal Reserve Bank may make an advance to a depository institution pursuant to an auction conducted under this paragraph and at the rate specified in Sec. 201.51(e) if, in the judgment of the Reserve Bank, the depository institution is in generally sound financial condition and is expected to remain in that condition during the term of the advance. An auction under this paragraph shall be conducted subject to such conditions, including conditions regarding the participants, size and duration of the facility, minimum bid amount, maximum bid amount, term of advance, minimum bid rate, use of proceeds, and schedule of auction dates, as the Board may establish from time to time in connection with the term auction facility. The Board may appoint one or more Reserve Banks or others to conduct the auction. (2) Authorization for the term auction facility established by Sec. 201.4(e)(1) shall expire on such date as set by the Board. [Reg. A, 67 FR 67786, Nov. 7, 2002, as amended at 72 FR 71203, Dec. 17, 2007; 80 FR 78965, Dec. 18, 2015] Sec. 201.5 Limitations on availability and assessments. (a) Lending to undercapitalized insured depository institutions. A Federal Reserve Bank may make or have outstanding advances to or discounts for a depository institution that it knows to be an undercapitalized insured depository institution, only: (1) If, in any 120-day period, advances or discounts from any Federal Reserve Bank to that depository institution are not outstanding for more than 60 days during which the institution is an undercapitalized insured depository institution; or (2) During the 60 calendar days after the receipt of a written certification from the chairman of the Board of Governors or the head of the appropriate federal banking agency that the borrowing depository institution is viable; or (3) After consultation with the Board of Governors. In unusual circumstances, when prior consultation with the Board is not possible, a Federal Reserve Bank should consult with the Board as soon as possible after extending credit that requires consultation under this paragraph (a)(3). (b) Lending to critically undercapitalized insured depository institutions. A Federal Reserve Bank may make or have outstanding advances to or discounts for a depository institution that it knows to be a critically undercapitalized insured depository institution only: (1) During the 5-day period beginning on the date the institution became a critically undercapitalized insured depository institution; or (2) After consultation with the Board of Governors. In unusual circumstances, when prior consultation with the Board is not possible, a Federal Reserve Bank should consult with the Board as soon as possible after extending credit that requires consultation under this paragraph (b)(2). (c) Assessments. The Board of Governors will assess the Federal Reserve Banks for any amount that the Board pays to the FDIC due to any excess loss in accordance with section 10B(b) of the Federal Reserve Act. Each Federal Reserve Bank shall be assessed that portion of the amount that the Board of Governors pays to the FDIC that is attributable to an extension of credit by that Federal Reserve Bank, up to 1 percent of its capital as reported at the beginning of the calendar year in which the assessment is made. The Board of Governors will assess all of the Federal Reserve Banks for the remainder of the amount it pays to the FDIC in the ratio that the capital of each Federal Reserve Bank bears to the total capital of all Federal Reserve Banks at the beginning of the calendar year in which the assessment is made, provided, however, that if any assessment exceeds 50 percent of the total capital and surplus of all Federal Reserve Banks, whether to distribute the excess over such 50 percent shall be made at the discretion of the Board of Governors. [Reg. A, 67 FR 67787, Nov. 7, 2002] [[Page 12]] Sec. 201.51 Interest rates applicable to credit extended by a Federal Reserve Bank. \3\ --------------------------------------------------------------------------- \3\ The primary, secondary, and seasonal credit rates described in this section apply to both advances and discounts made under the primary, secondary, and seasonal credit programs, respectively. --------------------------------------------------------------------------- (a) Primary credit. The interest rate at each Federal Reserve Bank for primary credit provided to depository institutions under Sec. 201.4(a) is 4.00 percent. (b) Secondary credit. The interest rate at each Federal Reserve Bank for secondary credit provided to depository institutions under Sec. 201.4(b) is 4.50 percent. (c) Seasonal credit. The rate for seasonal credit extended to depository institutions under Sec. 201.4(c) is a flexible rate that takes into account rates on market sources of funds. (d) Primary credit rate in a financial emergency. (1) The primary credit rate at a Federal Reserve Bank is the target federal funds rate of the Federal Open Market Committee or, if the Federal Open Market Committee has set a target range for the federal funds rate, the rate corresponding to the top of the target range, if: (i) In a financial emergency the Reserve Bank has established the primary credit rate at that rate; and (ii) The Chairman of the Board of Governors (or, in the Chairman's absence, his authorized designee) certifies that a quorum of the Board is not available to act on the Reserve Bank's rate establishment. (2) For purposes of this paragraph (d), a financial emergency is a significant disruption to the U.S. money markets resulting from an act of war, military or terrorist attack, natural disaster, or other catastrophic event. (e) Term auction facility. The interest rate on advances to depository institutions made pursuant to an auction under Sec. 201.4(e) is the rate at which all bids at that auction may be fulfilled, up to the maximum auction amount and subject to any minimum bid rate and other conditions as set by the Board. [Reg. A, 67 FR 67787, Nov. 7, 2002] Editorial Note: For Federal Register citations affecting Sec. 201.51, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Interpretations Sec. 201.104 Eligibility of consumer loans and finance company paper. (a) The Board of Governors has clarified and modified its position with respect to the eligibility of consumer loans and finance company paper for discount with and as collateral for advances by the reserve banks. (b) Section 13, paragraph 2, of the Federal Reserve Act authorizes a Federal Reserve Bank, under certain conditions, to discount for member banks * * * notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial, or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Board of Governors of the Federal Reserve System to have the right to determine or define the character of the paper thus eligible for discount, within the meaning of this Act. (c) It continues to be the opinion of the Board that borrowing for the purpose of purchasing goods is borrowing for a commercial purpose, whether the borrower intends to use the goods himself or to resell them. Hence, loans made to enable consumers to purchase automobiles or other goods should be included under commercial, agricultural, and industrial paper within the meaning of the Federal Reserve Act, and as such are eligible for discounting with the Reserve Banks and as security for advances from the Reserve Banks under section 13, paragraph 8, of the Federal Reserve Act as long as they conform to requirements with respect to maturity and other matters. This applies equally to loans made directly by banks to consumers and to paper accepted by banks from dealers or finance companies. It also applies to notes of finance companies themselves as long as the proceeds of such notes are used to finance the purchase of consumer goods or for other purposes which are eligible within the meaning of the Federal Reserve Act. [[Page 13]] (d) If there is any question as to whether the proceeds of a note of a finance company have been or are to be used for a commercial, agricultural, or industrial purpose, a financial statement of the finance company reflecting an excess of notes receivable which appear eligible for rediscount (without regard to maturity) over total current liabilities (i.e., notes due within 1 year) may be taken as an indication of eligibility. Where information is lacking as to whether direct consumer loans by a finance company are for eligible purposes, it may be assumed that 50 percent of such loans are ``notes receivable which appear eligible for rediscount''. In addition, that language should be regarded as including notes given for the purchase of mobile homes that are acquired by a finance company from a dealer-seller of such homes. (e) The principles stated above apply not only to notes of a finance company engaged in making consumer loans but also to notes of a finance company engaged in making loans for other eligible purposes, including business and agricultural loans. Under section 13a of the Federal Reserve Act, paper representing loans to finance the production, marketing, and carrying of agricultural products or the breeding, raising, fattening, or marketing of livestock is eligible for discount if the paper has a maturity of not exceeding 9 months. Consequently, a note of a finance company the proceeds of which are used by it to make loans for such purposes is eligible for discount or as security for a Federal Reserve advance, and such a note, unlike the note of a finance company making consumer loans, may have a maturity of up to 9 months. [37 FR 4701, Mar. 4, 1972] Sec. 201.107 Eligibility of demand paper for discount and as security for advances by Reserve Banks. (a) The Board of Governors has reconsidered a ruling made in 1917 that demand notes are ineligible for discount under the provisions of the Federal Reserve Act. (1917 Federal Reserve Bulletin 378.) (b) The basis of that ruling was the provision in the second paragraph of section 13 of the Federal Reserve Act that notes, drafts, and bills of exchange must have a maturity at the time of discount of not more than 90 days, exclusive of grace. The ruling stated that a demand note or bill is not eligible under the provisions of the act, since it is not in terms payable within the prescribed 90 days, but, at the option of the holder, may not be presented for payment until after that time. (c) It is well settled as a matter of law, however, that demand paper is due and payable on the date of its issue. The generally accepted legal view is stated in Beutel's Brannan on Negotiable Instruments Law, at page 305, as follows: The words on demand serve the same purpose as words making instruments payable at a specified time. They fix maturity of the obligation and do not make demand necessary, but mean that the instrument is due, payable and matured when made and delivered. (d) Accordingly, the Board has concluded that, since demand paper is due and payable on the date of its issue, it satisfies the maturity requirements of the statute. Demand paper which otherwise meets the eligibility requirements of the Federal Reserve Act and this part Regulation A, therefore, is eligible for discount and as security for advances by Reserve Banks. [31 FR 5443, Apr. 16, 1966] Sec. 201.108 Obligations eligible as collateral for advances. (a) Section 3(a) of Pub. L. 90-505, approved September 21, 1968, amended the eighth paragraph of section 13 of the Federal Reserve Act (12 U.S.C. 347) to authorize advances thereunder to member banks ``secured by such obligations as are eligible for purchase under section 14(b) of this Act.'' The relevant part of such paragraph had previously referred only to ``notes * * * eligible * * * for purchase'', which the Board had construed as not including obligations generally regarded as securities. (See 1962 Federal Reserve Bulletin 690, Sec. 201.103(d).) (b) Under section 14(b) direct obligations of, and obligations fully guaranteed as to principal and interest by, the United States are eligible for purchase [[Page 14]] by Reserve Banks. Such obligations include certificates issued by the trustees of Penn Central Transportation Co. that are fully guaranteed by the Secretary of Transportation. Under section 14(b) direct obligations of, and obligations fully guaranteed as to principal and interest by, any agency of the United States are also eligible for purchase by Reserve Banks. Following are the principal agency obligations eligible as collateral for advances: (1) Federal Intermediate Credit Bank debentures; (2) Federal Home Loan Bank notes and bonds; (3) Federal Land Bank bonds; (4) Bank for Cooperative debentures; (5) Federal National Mortgage Association notes, debentures and guaranteed certificates of participation; (6) Obligations of or fully guaranteed by the Government National Mortgage Association; (7) Merchant Marine bonds; (8) Export-Import Bank notes and guaranteed participation certificates; (9) Farmers Home Administration insured notes; (10) Notes fully guaranteed as to principal and interest by the Small Business Administration; (11) Federal Housing Administration debentures; (12) District of Columbia Armory Board bonds; (13) Tennessee Valley Authority bonds and notes; (14) Bonds and notes of local urban renewal or public housing agencies fully supported as to principal and interest by the full faith and credit of the United States pursuant to section 302 of the Housing Act of 1961 (42 U.S.C. 1421a(c), 1452(c)). (15) Commodity Credit Corporation certificates of interest in a price-support loan pool. (16) Federal Home Loan Mortgage Corporation notes, debentures, and guaranteed certificates of participation. (17) U.S. Postal Service obligations. (18) Participation certificates evidencing undivided interests in purchase contracts entered into by the General Services Administration. (19) Obligations entered into by the Secretary of Health, Education, and Welfare under the Public Health Service Act, as amended by the Medical Facilities Construction and Modernization Amendments of 1970. (20) Obligations guaranteed by the Overseas Private Investment Corp., pursuant to the provisions of the Foreign Assistance Act of 1961, as amended. (c) Nothing less than a full guarantee of principal and interest by a Federal agency will make an obligation eligible. For example, mortgage loans insured by the Federal Housing Administration are not eligible since the insurance contract is not equivalent to an unconditional guarantee and does not fully cover interest payable on the loan. Obligations of international institutions, such as the Inter-American Development Bank and the International Bank for Reconstruction and Development, are also not eligible, since such institutions are not agencies of the United States. (d) Also eligible for purchase under section 14(b) are ``bills, notes, revenue bonds, and warrants with a maturity from date of purchase of not exceeding 6 months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage and reclamation districts.''\5\ In determining the eligibility of such obligations as collateral for advances, but the Reserve Bank will satisfy itself that sufficient tax or other assured revenues earmarked for payment of such obligations will be available for that purpose at maturity, or within 6 months from the date of the advance if no maturity is stated. Payments due from Federal, State or other governmental units may, in the Reserve Bank's discretion, be regarded as ``other assured revenues''; but neither the proceeds of a prospective issue of securities nor future tolls, rents or similar collections for the voluntary use of government property for non- [[Page 15]] governmental purposes will normally be so regarded. Obligations with original maturities exceeding 1 year would not ordinarily be self- liquidating as contemplated by the statute, unless at the time of issue provision is made for a redemption or sinking fund that will be sufficient to pay such obligations at maturity. --------------------------------------------------------------------------- \4\ [Reserved] \5\ Paragraph 3 of section 1 of the Federal Reserve Act (12 U.S.C. 221) defines the continental United States to mean ``the States of the United States and the District of Columbia'', thus including Alaska and Hawaii. [Reg. A, 33 FR 17231, Nov. 21, 1968, as amended at 34 FR 1113, Jan. 24, 1969; 34 FR 6417, Apr. 12, 1969; 36 FR 8441, May 6, 1971; 37 FR 24105, Nov. 14, 1972; 43 FR 53709, Nov. 17, 1978; 58 FR 68515, Dec. 28, 1993; 80 FR 78965, Dec. 18, 2015] Sec. 201.109 Eligibility for discount of mortgage company notes. (a) The question has arisen whether notes issued by mortgage banking companies to finance their acquisition and temporary holding of real estate mortgages are eligible for discount by Reserve Banks. (b) Under section 13 of the Federal Reserve Act the Board has authority to define what are ``agricultural, industrial, or commercial purposes'', which is the statutory criterion for determining the eligibility of notes and drafts for discount. However, such definition may not include paper ``covering merely investments or issued or drawn for the purpose of carrying or trading in stocks, bonds, or other investment securities''. (c) The legislative history of section 13 suggests that Congress intended to make eligible for discount ``any paper drawn for a legitimate business purpose of any kind'' \6\ and that the Board, in determining what paper is eligible, should place a ``broad and adaptable construction'' \7\ upon the terms in section 13. It may also be noted that Congress apparently considered paper issued to carry investment securities as paper issued for a ``commercial purpose'', since it specifically prohibited the Board from making such paper eligible for discount. If ``commercial'' is broad enough to encompass investment banking, it would also seem to include mortgage banking. --------------------------------------------------------------------------- \6\ House Report No. 69, 63d Cong., p. 48. \7\ 50 Cong. Rec. 4675 (1913) (remarks of Rep. Phelan). --------------------------------------------------------------------------- (d) In providing for the discount of commercial paper by Reserve Banks, Congress obviously intended to facilitate the current financing of agriculture, industry, and commerce, as opposed to long-term investment. \8\ In the main, trading in stocks and bonds is investment- oriented; most securities transactions do not directly affect the production or distribution of goods and services. Mortgage banking, on the other hand, is essential to the construction industry and thus more closely related to industry and commerce. Although investment bankers also perform similar functions with respect to newly issued securities, Congress saw fit to deny eligibility to all paper issued to finance the carrying of securities. Congress did not distinguish between newly issued and outstanding securities, perhaps covering the larger area in order to make certain that the area of principal concern (i.e., trading in outstanding stocks and bonds) was fully included. Speculation was also a major Congressional concern, but speculation is not a material element in mortgage banking operations. Mortgage loans would not therefore seem to be within the purpose underlying the exclusions from eligibility in section 13. --------------------------------------------------------------------------- \8\ 50 Cong. Rec. 5021 (1913) (remarks of Rep. Thompson of Oklahoma); 50 Cong. Rec. 4731-32 (1913) (remarks of Rep. Borland). --------------------------------------------------------------------------- (e) Section 201.3(a) provides that a negotiable note maturing in 90 days or less is not eligible for discount if the proceeds are used ``for permanent or fixed investments of any kind, such as land, buildings or machinery, or for any other fixed capital purpose''. However, the proceeds of a mortgage company's commercial paper are not used by it for any permanent or fixed capital purpose, but only to carry temporarily an inventory of mortgage loans pending their ``packaging'' for sale to permanent investors that are usually recurrent customers. (f) In view of the foregoing considerations the Board concluded that notes issued to finance such temporary ``warehousing'' of real estate mortgage loans are notes issued for an industrial or commercial purpose, that such [[Page 16]] mortgage loans do not constitute ``investment securities'', as that term is used in section 13, and that the temporary holding of such mortgages in these circumstances is not a permanent investment by the mortgage banking company. Accordingly, the Board held that notes having not more than 90 days to run which are issued to finance the temporary holding of mortgage loans are eligible for discount by Reserve Banks. [35 FR 527, Jan. 15, 1970, as amended at 58 FR 68515, Dec. 28, 1993; 80 FR 78965, Dec. 18, 2015] Sec. 201.110 Goods held by persons employed by owner. (a) The Board has been asked to review an Interpretation it issued in 1933 concerning the eligibility for rediscount by a Federal Reserve Bank of bankers' acceptances issued against field warehouse receipts where the custodian of the goods is a present or former employee of the borrower. [] 1445 Published Interpretations, 1933 BULLETIN 188] The Board determined at that time that the acceptances were not eligible because such receipts do not comply with the requirement of section 13 of the Federal Reserve Act that a banker's acceptance be ``secured at the time of acceptance by a warehouse receipt or other such document conveying or securing title covering readily marketable staples,'' nor with the requirement of section XI of the Board's Regulation A that it be ``secured at the time of acceptance by a warehouse, terminal, or other similar receipt, conveying security title to such staples, issued by a party independent of the customer.'' The requirement that the receipt be ``issued by a party independent of the customer'' was deleted from Regulation A in 1973, and thus the primary issue for the Board's consideration is whether a field warehouse receipt is a document ``securing title'' to readily marketable staples. (b) While bankers' acceptances secured by field warehouse receipts are rarely offered for rediscount or as collateral for an advance, the issue of ``eligibility'' is still significant. If an ineligible acceptance is discounted and then sold by a member bank, the proceeds are deemed to be ``deposits'' under Sec. 204.1(f) of Regulation D and are subject to reserve requirements. (c) In reviewing this matter, the Board has taken into consideration the changes that have occurred in commercial law and practice since 1933. Modern commercial law, embodied in the Uniform Commercial Code, refers to ``perfecting security interests'' rather than ``securing title'' to goods. The Board believes that if, under State law, the issuance of a field warehouse receipt provides the lender with a perfected security interest in the goods, the receipt should be regarded as a document ``securing title'' to goods for the purposes of section 13 of the Federal Reserve Act. It should be noted, however, that the mere existence of a perfected security interest alone is not sufficient; the Act requires that the acceptance be secured by a warehouse receipt or its equivalent. (d) Under the U.C.C., evidence of an agreement between the secured party and the debtor must exist before a security interest can attach. [U.C.C. section 9-202.] This agreement may be evidence by: (1) A written security agreement signed by the debtor, or (2) the collateral being placed in the possession of the secured party or his agent [U.C.C. section 9-203]. Generally, a security interest is perfected by the filing of a financing statement, [U.C.C. section 9-302.] However, if the collateral is in the possession of a bailee, then perfection can be achieved by: (1) Having warehouse receipts issued in the name of the secured party; (2) notifying the bailee of the secured party's interest; or (3) having a financing statement filed. [U.C.C. section 9-304(3).] (e) If the field warehousing operation is properly conducted, a security interest in the goods is perfected when a warehouse receipt is issued in the name of the secured party (the lending bank). Therefore, warehouse receipts issued pursuant to a bona fide field warehousing operation satisfy the legal requirements of section 13 of the Federal Reserve Act. Moreover, in a properly conducted field warehousing operation, the warehouse manager will be trained, bonded, supervised and audited by the field warehousing company. This procedure tends to insure that he [[Page 17]] will not be impermissibly controlled by his former (or sometimes present) employer, the borrower, even though he may look to the borrower for reemployment at some future time. A prudent lender will, of course, carefully review the field warehousing operation to ensure that stated procedures are satisfactory and that they are actually being followed. The lender may also wish to review the field warehousing company's fidelity bonds and legal liability insurance policies to ensure that they provide satisfactory protection to the lender. (f) If the warehousing operation is not conducted properly, however, and the manager remains under the control of the borrower, the security interest may be lost. Consequently, the lender may wish to require a written security agreement and the filing of a financing statement to insure that the lender will have a perfected security interest even if it is later determined that the field warehousing operation was not properly conducted. It should be noted however, that the Federal Reserve Act clearly requires that the bankers' acceptance be secured by a warehouse receipt in order to satisfy the requirements of eligibility, and a written security agreement and a filed financing statement, while desirable, cannot serve as a substitute for a warehouse receipt. (g) This Interpretation is based on facts that have been presented in regard to field warehousing operations conducted by established, professional field warehouse companies, and it does not necessarily apply to all field warehousing operations. Thus ] 1430 and ] 1440 of the Published Interpretations [1918 BULLETIN 31 and 1918 BULLETIN 862] maintain their validity with regard to corporations formed for the purpose of conducting limited field warehousing operations. Furthermore, the prohibition contained in ] 1435 Published Interpretations [1918 BULLETIN 634] that ``the borrower shall not have access to the premises and shall exercise no control over the goods stored'' retains its validity, except that access for inspection purposes is still permitted under ] 1450 [1926 BULLETIN 666]. The purpose for the acceptance transaction must be proper and cannot be for speculation [] 1400, 1919 BULLETIN 858] or for the purpose of furnishing working capital [] 1405, 1922 BULLETIN 52]. (h) This interpretation supersedes only the previous ] 1445 of the Published Interpretations [1933 BULLETIN 188], and is not intended to affect any other Board Interpretation regarding field warehousing. (12 U.S.C. 342 et seq.) [43 FR 21434, May 18, 1978] PART 202_EQUAL CREDIT OPPORTUNITY ACT (REGULATION B)--Table of Contents Regulation B (Equal Credit Opportunity) Sec. 202.1 Authority, scope and purpose. 202.2 Definitions. 202.3 Limited exceptions for certain classes of transactions. 202.4 General rules. 202.5 Rules concerning requests for information. 202.6 Rules concerning evaluation of applications. 202.7 Rules concerning extensions of credit. 202.8 Special purpose credit programs. 202.9 Notifications. 202.10 Furnishing of credit information. 202.11 Relation to state law. 202.12 Record retention. 202.13 Information for monitoring purposes. 202.14 Rules on providing appraisal reports. 202.15 Incentives for self-testing and self-correction. 202.16 Enforcement, penalties and liabilities. 202.17 Data collection for credit applications by women-owned, minority- owned, or small businesses. Appendix A to Part 202--Federal Enforcement Agencies Appendix B to Part 202--Model Application Forms Appendix C to Part 202--Sample Notification Forms Appendix D to Part 202--Issuance of Staff Interpretations Supplement I to Part 202--Official Staff Interpretations Authority: 15 U.S.C. 1691-1691f; Pub. L. 111-203, 124 Stat. 1376. Source: Reg. B, 68 FR 13161, Mar. 18, 2003, unless otherwise noted. Sec. 202.1 Authority, scope and purpose. (a) Authority and scope. This regulation is issued by the Board of Governors of the Federal Reserve System [[Page 18]] pursuant to title VII (Equal Credit Opportunity Act) of the Consumer Credit Protection Act, as amended (15 U.S.C. 1601 et seq.). Except as otherwise provided herein, this regulation applies to all persons who are creditors, as defined in Sec. 202.2(1). Information collection requirements contained in this regulation have been approved by the Office of Management and Budget under the provisions of 44 U.S.C. 3501 et seq. and have been assigned OMB No. 7100-0201. (b) Purpose. The purpose of this regulation is to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to the fact that all or part of the applicant's income derives from a public assistance program; or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The regulation prohibits creditor practices that discriminate on the basis of any of these factors. The regulation also requires creditors to notify applicants of action taken on their applications; to report credit history in the names of both spouses on an account; to retain records of credit applications; to collect information about the applicant's race and other personal characteristics in applications for certain dwelling- related loans; and to provide applicants with copies of appraisal reports used in connection with credit transactions. Sec. 202.2 Definitions. For the purposes of this regulation, unless the context indicates otherwise, the following definitions apply. (a) Account means an extension of credit. When employed in relation to an account, the word use refers only to open-end credit. (b) Act means the Equal Credit Opportunity Act (title VII of the Consumer Credit Protection Act). (c) Adverse action. (1) The term means: (i) A refusal to grant credit in substantially the amount or on substantially the terms requested in an application unless the creditor makes a counteroffer (to grant credit in a different amount or on other terms) and the applicant uses or expressly accepts the credit offered; (ii) A termination of an account or an unfavorable change in the terms of an account that does not affect all or substantially all of a class of the creditor's accounts; or (iii) A refusal to increase the amount of credit available to an applicant who has made an application for an increase. (2) The term does not include: (i) A change in the terms of an account expressly agreed to by an applicant. (ii) Any action or forbearance relating to an account taken in connection with inactivity, default, or delinquency as to that account; (iii) A refusal or failure to authorize an account transaction at point of sale or loan, except when the refusal is a termination or an unfavorable change in the terms of an account that does not affect all or substantially all of a class of the creditor's accounts, or when the refusal is a denial of an application for an increase in the amount of credit available under the account; (iv) A refusal to extend credit because applicable law prohibits the creditor from extending the credit requested; or (v) A refusal to extend credit because the creditor does not offer the type of credit or credit plan requested. (3) An action that falls within the definition of both paragraphs (c)(1) and (c)(2) of this section is governed by paragraph (c)(2) of this section. (d) Age refers only to the age of natural persons and means the number of fully elapsed years from the date of an applicant's birth. (e) Applicant means any person who requests or who has received an extension of credit from a creditor, and includes any person who is or may become contractually liable regarding an extension of credit. For purposes of Sec. 202.7(d), the term includes guarantors, sureties, endorsers, and similar parties. (f) Application means an oral or written request for an extension of credit that is made in accordance with procedures used by a creditor for the type of credit requested. The term application does not include the use of an account [[Page 19]] or line of credit to obtain an amount of credit that is within a previously established credit limit. A completed application means an application in connection with which a creditor has received all the information that the creditor regularly obtains and considers in evaluating applications for the amount and type of credit requested (including, but not limited to, credit reports, any additional information requested from the applicant, and any approvals or reports by governmental agencies or other persons that are necessary to guarantee, insure, or provide security for the credit or collateral). The creditor shall exercise reasonable diligence in obtaining such information. (g) Business credit refers to extensions of credit primarily for business or commercial (including agricultural) purposes, but excluding extensions of credit of the types described in Sec. 202.3(a)-(d). (h) Consumer credit means credit extended to a natural person primarily for personal, family, or household purposes. (i) Contractually liable means expressly obligated to repay all debts arising on an account by reason of an agreement to that effect. (j) Credit means the right granted by a creditor to an applicant to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment therefor. (k) Credit card means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain money, property, or services on credit. (l) Creditor means a person who, in the ordinary course of business, regularly participates in a credit decision, including setting the terms of the credit. The term creditor includes a creditor's assignee, transferee, or subrogee who so participates. For purposes of Sec. 202.4(a) and (b), the term creditor also includes a person who, in the ordinary course of business, regularly refers applicants or prospective applicants to creditors, or selects or offers to select creditors to whom requests for credit may be made. A person is not a creditor regarding any violation of the Act or this regulation committed by another creditor unless the person knew or had reasonable notice of the act, policy, or practice that constituted the violation before becoming involved in the credit transaction. The term does not include a person whose only participation in a credit transaction involves honoring a credit card. (m) Credit transaction means every aspect of an applicant's dealings with a creditor regarding an application for credit or an existing extension of credit (including, but not limited to, information requirements; investigation procedures; standards of creditworthiness; terms of credit; furnishing of credit information; revocation, alteration, or termination of credit; and collection procedures). (n) Discriminate against an applicant means to treat an applicant less favorably than other applicants. (o) Elderly means age 62 or older. (p) Empirically derived and other credit scoring systems--(1) A credit scoring system is a system that evaluates an applicant's creditworthiness mechanically, based on key attributes of the applicant and aspects of the transaction, and that determines, alone or in conjunction with an evaluation of additional information about the applicant, whether an applicant is deemed creditworthy. To qualify as an empirically derived, demonstrably and statistically sound, credit scoring system, the system must be: (i) Based on data that are derived from an empirical comparison of sample groups or the population of creditworthy and noncreditworthy applicants who applied for credit within a reasonable preceding period of time; (ii) Developed for the purpose of evaluating the creditworthiness of applicants with respect to the legitimate business interests of the creditor utilizing the system (including, but not limited to, minimizing bad debt losses and operating expenses in accordance with the creditor's business judgment); (iii) Developed and validated using accepted statistical principles and methodology; and (iv) Periodically revalidated by the use of appropriate statistical principles and methodology and adjusted as necessary to maintain predictive ability. [[Page 20]] (2) A creditor may use an empirically derived, demonstrably and statistically sound, credit scoring system obtained from another person or may obtain credit experience from which to develop such a system. Any such system must satisfy the criteria set forth in paragraph (p)(1)(i) through (iv) of this section; if the creditor is unable during the development process to validate the system based on its own credit experience in accordance with paragraph (p)(1) of this section, the system must be validated when sufficient credit experience becomes available. A system that fails this validity test is no longer an empirically derived, demonstrably and statistically sound, credit scoring system for that creditor. (q) Extend credit and extension of credit mean the granting of credit in any form (including, but not limited to, credit granted in addition to any existing credit or credit limit; credit granted pursuant to an open-end credit plan; the refinancing or other renewal of credit, including the issuance of a new credit card in place of an expiring credit card or in substitution for an existing credit card; the consolidation of two or more obligations; or the continuance of existing credit without any special effort to collect at or after maturity). (r) Good faith means honesty in fact in the conduct or transaction. (s) Inadvertent error means a mechanical, electronic, or clerical error that a creditor demonstrates was not intentional and occurred notwithstanding the maintenance of procedures reasonably adapted to avoid such errors. (t) Judgmental system of evaluating applicants means any system for evaluating the creditworthiness of an applicant other than an empirically derived, demonstrably and statistically sound, credit scoring system. (u) Marital status means the state of being unmarried, married, or separated, as defined by applicable state law. The term ``unmarried'' includes persons who are single, divorced, or widowed. (v) Negative factor or value, in relation to the age of elderly applicants, means utilizing a factor, value, or weight that is less favorable regarding elderly applicants than the creditor's experience warrants or is less favorable than the factor, value, or weight assigned to the class of applicants that are not classified as elderly and are most favored by a creditor on the basis of age. (w) Open-end credit means credit extended under a plan in which a creditor may permit an applicant to make purchases or obtain loans from time to time directly from the creditor or indirectly by use of a credit card, check, or other device. (x) Person means a natural person, corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. (y) Pertinent element of creditworthiness, in relation to a judgmental system of evaluating applicants, means any information about applicants that a creditor obtains and considers and that has a demonstrable relationship to a determination of creditworthiness. (z) Prohibited basis means race, color, religion, national origin, sex, marital status, or age (provided that the applicant has the capacity to enter into a binding contract); the fact that all or part of the applicant's income derives from any public assistance program; or the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act or any state law upon which an exemption has been granted by the Board. (aa) State means any state, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession of the United States. Sec. 202.3 Limited exceptions for certain classes of transactions. (a) Public utilities credit--(1) Definition. Public utilities credit refers to extensions of credit that involve public utility services provided through pipe, wire, or other connected facilities, or radio or similar transmission (including extensions of such facilities), if the charges for service, delayed payment, and any discount for prompt payment are filed with or regulated by a government unit. (2) Exceptions. The following provisions of this regulation do not apply to public utilities credit: (i) Section 202.5(d)(1) concerning information about marital status; and [[Page 21]] (ii) Section 202.12(b) relating to record retention. (b) Securities credit--(1) Definition. Securities credit refers to extensions of credit subject to regulation under section 7 of the Securities Exchange Act of 1934 or extensions of credit by a broker or dealer subject to regulation as a broker or dealer under the Securities Exchange Act of 1934. (2) Exceptions. The following provisions of this regulation do not apply to securities credit: (i) Section 202.5(b) concerning information about the sex of an applicant; (ii) Section 202.5(c) concerning information about a spouse or former spouse; (iii) Section 202.5(d)(1) concerning information about marital status; (iv) Section 202.7(b) relating to designation of name to the extent necessary to comply with rules regarding an account in which a broker or dealer has an interest, or rules regarding the aggregation of accounts of spouses to determine controlling interests, beneficial interests, beneficial ownership, or purchase limitations and restrictions; (v) Section 202.7(c) relating to action concerning open-end accounts, to the extent the action taken is on the basis of a change of name or marital status; (vi) Section 202.7(d) relating to the signature of a spouse or other person; (vii) Section 202.10 relating to furnishing of credit information; and (viii) Section 202.12(b) relating to record retention. (c) Incidental credit--(1) Definition. Incidental credit refers to extensions of consumer credit other than the types described in paragraphs (a) and (b) of this section: (i) That are not made pursuant to the terms of a credit card account; (ii) That are not subject to a finance charge (as defined in Regulation Z, 12 CFR 226.4); and (iii) That are not payable by agreement in more than four installments. (2) Exceptions. The following provisions of this regulation do not apply to incidental credit: (i) Section 202.5(b) concerning information about the sex of an applicant, but only to the extent necessary for medical records or similar purposes; (ii) Section 202.5(c) concerning information about a spouse or former spouse; (iii) Section 202.5(d)(1) concerning information about marital status; (iv) Section 202.5(d)(2) concerning information about income derived from alimony, child support, or separate maintenance payments; (v) Section 202.7(d) relating to the signature of a spouse or other person; (vi) Section 202.9 relating to notifications; (vii) Section 202.10 relating to furnishing of credit information; and (viii) Section 202.12(b) relating to record retention. (d) Government credit--(1) Definition. Government credit refers to extensions of credit made to governments or governmental subdivisions, agencies, or instrumentalities. (2) Applicability of regulation. Except for Sec. 202.4(a), the general rule against discrimination on a prohibited basis, the requirements of this regulation do not apply to government credit. Sec. 202.4 General rules. (a) Discrimination. A creditor shall not discriminate against an applicant on a prohibited basis regarding any aspect of a credit transaction. (b) Discouragement. A creditor shall not make any oral or written statement, in advertising or otherwise, to applicants or prospective applicants that would discourage on a prohibited basis a reasonable person from making or pursuing an application. (c) Written applications. A creditor shall take written applications for the dwelling-related types of credit covered by Sec. 202.13(a). (d) Form of disclosures--(1) General rule. A creditor that provides in writing any disclosures or information required by this regulation must provide the disclosures in a clear and conspicuous manner and, except for the disclosures required by Sec. Sec. 202.5 and 202.13, in a form the applicant may retain. (2) Disclosures in electronic form. The disclosures required by this part that are required to be given in writing may be provided to the applicant in electronic form, subject to compliance with the consumer consent and other [[Page 22]] applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.). Where the disclosures under Sec. Sec. 202.5(b)(1), 202.5(b)(2), 202.5(d)(1), 202.5(d)(2), 202.13, and 202.14(a)(2)(i) accompany an application accessed by the applicant in electronic form, these disclosures may be provided to the applicant in electronic form on or with the application form, without regard to the consumer consent or other provisions of the E-Sign Act. (e) Foreign-language disclosures. Disclosures may be made in languages other than English, provided they are available in English upon request. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 72 FR 63451, Nov. 9, 2007] Sec. 202.5 Rules concerning requests for information. (a) General rules--(1) Requests for information. Except as provided in paragraphs (b) through (d) of this section, a creditor may request any information in connection with a credit transaction. \1\ --------------------------------------------------------------------------- \1\ This paragraph does not limit or abrogate any Federal or State law regarding privacy, privileged information, credit reporting limitations, or similar restrictions on obtainable information. --------------------------------------------------------------------------- (2) Required collection of information. Notwithstanding paragraphs (b) through (d) of this section, a creditor shall request information for monitoring purposes as required by Sec. 202.13 for credit secured by the applicant's dwelling. In addition, a creditor may obtain information required by a regulation, order, or agreement issued by, or entered into with, a court or an enforcement agency (including the Attorney General of the United States or a similar state official) to monitor or enforce compliance with the Act, this regulation, or other federal or state statutes or regulations. (3) Special-purpose credit. A creditor may obtain information that is otherwise restricted to determine eligibility for a special purpose credit program, as provided in Sec. 202.8(b), (c), and (d). (b) Limitation on information about race, color, religion, national origin, or sex. A creditor shall not inquire about the race, color, religion, national origin, or sex of an applicant or any other person in connection with a credit transaction, except as provided in paragraphs (b)(1) and (b)(2) of this section. (1) Self-test. A creditor may inquire about the race, color, religion, national origin, or sex of an applicant or any other person in connection with a credit transaction for the purpose of conducting a self-test that meets the requirements of Sec. 202.15. A creditor that makes such an inquiry shall disclose orally or in writing, at the time the information is requested, that: (i) The applicant will not be required to provide the information; (ii) The creditor is requesting the information to monitor its compliance with the federal Equal Credit Opportunity Act; (iii) Federal law prohibits the creditor from discriminating on the basis of this information, or on the basis of an applicant's decision not to furnish the information; and (iv) If applicable, certain information will be collected based on visual observation or surname if not provided by the applicant or other person. (2) Sex. An applicant may be requested to designate a title on an application form (such as Ms., Miss, Mr., or Mrs.) if the form discloses that the designation of a title is optional. An application form shall otherwise use only terms that are neutral as to sex. (c) Information about a spouse or former spouse--(1) General rule. Except as permitted in this paragraph, a creditor may not request any information concerning the spouse or former spouse of an applicant. (2) Permissible inquiries. A creditor may request any information concerning an applicant's spouse (or former spouse under paragraph (c)(2)(v) of this section) that may be requested about the applicant if: (i) The spouse will be permitted to use the account; (ii) The spouse will be contractually liable on the account; (iii) The applicant is relying on the spouse's income as a basis for repayment of the credit requested; (iv) The applicant resides in a community property state or is relying on property located in such a state as a [[Page 23]] basis for repayment of the credit requested; or (v) The applicant is relying on alimony, child support, or separate maintenance payments from a spouse or former spouse as a basis for repayment of the credit requested. (3) Other accounts of the applicant. A creditor may request that an applicant list any account on which the applicant is contractually liable and to provide the name and address of the person in whose name the account is held. A creditor may also ask an applicant to list the names in which the applicant has previously received credit. (d) Other limitations on information requests--(1) Marital status. If an applicant applies for individual unsecured credit, a creditor shall not inquire about the applicant's marital status unless the applicant resides in a community property state or is relying on property located in such a state as a basis for repayment of the credit requested. If an application is for other than individual unsecured credit, a creditor may inquire about the applicant's marital status, but shall use only the terms married, unmarried, and separated. A creditor may explain that the category unmarried includes single, divorced, and widowed persons. (2) Disclosure about income from alimony, child support, or separate maintenance. A creditor shall not inquire whether income stated in an application is derived from alimony, child support, or separate maintenance payments unless the creditor discloses to the applicant that such income need not be revealed if the applicant does not want the creditor to consider it in determining the applicant's creditworthiness. (3) Childbearing, childrearing. A creditor shall not inquire about birth control practices, intentions concerning the bearing or rearing of children, or capability to bear children. A creditor may inquire about the number and ages of an applicant's dependents or about dependent- related financial obligations or expenditures, provided such information is requested without regard to sex, marital status, or any other prohibited basis. (e) Permanent residency and immigration status. A creditor may inquire about the permanent residency and immigration status of an applicant or any other person in connection with a credit transaction. Sec. 202.6 Rules concerning evaluation of applications. (a) General rule concerning use of information. Except as otherwise provided in the Act and this regulation, a creditor may consider any information obtained, so long as the information is not used to discriminate against an applicant on a prohibited basis. \2\ --------------------------------------------------------------------------- \2\ The legislative history of the Act indicates that the Congress intended an ``effects test'' concept, as outlined in the employment field by the Supreme Court in the cases of Griggs v. Duke Power Co., 401 U.S. 424 (1971), and Albemarle Paper Co. v. Moody, 422 U.S. 405 (1975), to be applicable to a creditor's determination of creditworthiness. --------------------------------------------------------------------------- (b) Specific rules concerning use of information. (1) Except as provided in the Act and this regulation, a creditor shall not take a prohibited basis into account in any system of evaluating the creditworthiness of applicants. (2) Age, receipt of public assistance. (i) Except as permitted in this paragraph, a creditor shall not take into account an applicant's age (provided that the applicant has the capacity to enter into a binding contract) or whether an applicant's income derives from any public assistance program. (ii) In an empirically derived, demonstrably and statistically sound, credit scoring system, a creditor may use an applicant's age as a predictive variable, provided that the age of an elderly applicant is not assigned a negative factor or value. (iii) In a judgmental system of evaluating creditworthiness, a creditor may consider an applicant's age or whether an applicant's income derives from any public assistance program only for the purpose of determining a pertinent element of creditworthiness. (iv) In any system of evaluating creditworthiness, a creditor may consider the age of an elderly applicant when such age is used to favor the elderly applicant in extending credit. (3) Childbearing, childrearing. In evaluating creditworthiness, a creditor [[Page 24]] shall not make assumptions or use aggregate statistics relating to the likelihood that any category of persons will bear or rear children or will, for that reason, receive diminished or interrupted income in the future. (4) Telephone listing. A creditor shall not take into account whether there is a telephone listing in the name of an applicant for consumer credit but may take into account whether there is a telephone in the applicant's residence. (5) Income. A creditor shall not discount or exclude from consideration the income of an applicant or the spouse of an applicant because of a prohibited basis or because the income is derived from part-time employment or is an annuity, pension, or other retirement benefit; a creditor may consider the amount and probable continuance of any income in evaluating an applicant's creditworthiness. When an applicant relies on alimony, child support, or separate maintenance payments in applying for credit, the creditor shall consider such payments as income to the extent that they are likely to be consistently made. (6) Credit history. To the extent that a creditor considers credit history in evaluating the creditworthiness of similarly qualified applicants for a similar type and amount of credit, in evaluating an applicant's creditworthiness a creditor shall consider: (i) The credit history, when available, of accounts designated as accounts that the applicant and the applicant's spouse are permitted to use or for which both are contractually liable; (ii) On the applicant's request, any information the applicant may present that tends to indicate the credit history being considered by the creditor does not accurately reflect the applicant's creditworthiness; and (iii) On the applicant's request, the credit history, when available, of any account reported in the name of the applicant's spouse or former spouse that the applicant can demonstrate accurately reflects the applicant's creditworthiness. (7) Immigration status. A creditor may consider the applicant's immigration status or status as a permanent resident of the United States, and any additional information that may be necessary to ascertain the creditor's rights and remedies regarding repayment. (8) Marital status. Except as otherwise permitted or required by law, a creditor shall evaluate married and unmarried applicants by the same standards; and in evaluating joint applicants, a creditor shall not treat applicants differently based on the existence, absence, or likelihood of a marital relationship between the parties. (9) Race, color, religion, national origin, sex. Except as otherwise permitted or required by law, a creditor shall not consider race, color, religion, national origin, or sex (or an applicant's or other person's decision not to provide the information) in any aspect of a credit transaction. (c) State property laws. A creditor's consideration or application of state property laws directly or indirectly affecting creditworthiness does not constitute unlawful discrimination for the purposes of the Act or this regulation. Sec. 202.7 Rules concerning extensions of credit. (a) Individual accounts. A creditor shall not refuse to grant an individual account to a creditworthy applicant on the basis of sex, marital status, or any other prohibited basis. (b) Designation of name. A creditor shall not refuse to allow an applicant to open or maintain an account in a birth-given first name and a surname that is the applicant's birth-given surname, the spouse's surname, or a combined surname. (c) Action concerning existing open-end accounts--(1) Limitations. In the absence of evidence of the applicant's inability or unwillingness to repay, a creditor shall not take any of the following actions regarding an applicant who is contractually liable on an existing open- end account on the basis of the applicant's reaching a certain age or retiring or on the basis of a change in the applicant's name or marital status: (i) Require a reapplication, except as provided in paragraph (c)(2) of this section; (ii) Change the terms of the account; or (iii) Terminate the account. [[Page 25]] (2) Requiring reapplication. A creditor may require a reapplication for an open-end account on the basis of a change in the marital status of an applicant who is contractually liable if the credit granted was based in whole or in part on income of the applicant's spouse and if information available to the creditor indicates that the applicant's income may not support the amount of credit currently available. (d) Signature of spouse or other person--(1) Rule for qualified applicant. Except as provided in this paragraph, a creditor shall not require the signature of an applicant's spouse or other person, other than a joint applicant, on any credit instrument if the applicant qualifies under the creditor's standards of creditworthiness for the amount and terms of the credit requested. A creditor shall not deem the submission of a joint financial statement or other evidence of jointly held assets as an application for joint credit. (2) Unsecured credit. If an applicant requests unsecured credit and relies in part upon property that the applicant owns jointly with another person to satisfy the creditor's standards of creditworthiness, the creditor may require the signature of the other person only on the instrument(s) necessary, or reasonably believed by the creditor to be necessary, under the law of the state in which the property is located, to enable the creditor to reach the property being relied upon in the event of the death or default of the applicant. (3) Unsecured credit--community property states. If a married applicant requests unsecured credit and resides in a community property state, or if the applicant is relying on property located in such a state, a creditor may require the signature of the spouse on any instrument necessary, or reasonably believed by the creditor to be necessary, under applicable state law to make the community property available to satisfy the debt in the event of default if: (i) Applicable state law denies the applicant power to manage or control sufficient community property to qualify for the credit requested under the creditor's standards of creditworthiness; and (ii) The applicant does not have sufficient separate property to qualify for the credit requested without regard to community property. (4) Secured credit. If an applicant requests secured credit, a creditor may require the signature of the applicant's spouse or other person on any instrument necessary, or reasonably believed by the creditor to be necessary, under applicable state law to make the property being offered as security available to satisfy the debt in the event of default, for example, an instrument to create a valid lien, pass clear title, waive inchoate rights, or assign earnings. (5) Additional parties. If, under a creditor's standards of creditworthiness, the personal liability of an additional party is necessary to support the credit requested, a creditor may request a cosigner, guarantor, endorser, or similar party. The applicant's spouse may serve as an additional party, but the creditor shall not require that the spouse be the additional party. (6) Rights of additional parties. A creditor shall not impose requirements upon an additional party that the creditor is prohibited from imposing upon an applicant under this section. (e) Insurance. A creditor shall not refuse to extend credit and shall not terminate an account because credit life, health, accident, disability, or other credit-related insurance is not available on the basis of the applicant's age. Sec. 202.8 Special purpose credit programs. (a) Standards for programs. Subject to the provisions of paragraph (b) of this section, the Act and this regulation permit a creditor to extend special purpose credit to applicants who meet eligibility requirements under the following types of credit programs: (1) Any credit assistance program expressly authorized by federal or state law for the benefit of an economically disadvantaged class of persons; (2) Any credit assistance program offered by a not-for-profit organization, as defined under section 501(c) of the Internal Revenue Code of 1954, as amended, for the benefit of its members or for the benefit of an economically disadvantaged class of persons; or [[Page 26]] (3) Any special purpose credit program offered by a for-profit organization, or in which such an organization participates to meet special social needs, if: (i) The program is established and administered pursuant to a written plan that identifies the class of persons that the program is designed to benefit and sets forth the procedures and standards for extending credit pursuant to the program; and (ii) The program is established and administered to extend credit to a class of persons who, under the organization's customary standards of creditworthiness, probably would not receive such credit or would receive it on less favorable terms than are ordinarily available to other applicants applying to the organization for a similar type and amount of credit. (b) Rules in other sections--(1) General applicability. All the provisions of this regulation apply to each of the special purpose credit programs described in paragraph (a) of this section except as modified by this section. (2) Common characteristics. A program described in paragraph (a)(2) or (a)(3) of this section qualifies as a special purpose credit program only if it was established and is administered so as not to discriminate against an applicant on any prohibited basis; however, all program participants may be required to share one or more common characteristics (for example, race, national origin, or sex) so long as the program was not established and is not administered with the purpose of evading the requirements of the Act or this regulation. (c) Special rule concerning requests and use of information. If participants in a special purpose credit program described in paragraph (a) of this section are required to possess one or more common characteristics (for example, race, national origin, or sex) and if the program otherwise satisfies the requirements of paragraph (a) of this section, a creditor may request and consider information regarding the common characteristic(s) in determining the applicant's eligibility for the program. (d) Special rule in the case of financial need. If financial need is one of the criteria under a special purpose credit program described in paragraph (a) of this section, the creditor may request and consider, in determining an applicant's eligibility for the program, information regarding the applicant's marital status; alimony, child support, and separate maintenance income; and the spouse's financial resources. In addition, a creditor may obtain the signature of an applicant's spouse or other person on an application or credit instrument relating to a special purpose credit program if the signature is required by federal or state law. Sec. 202.9 Notifications. (a) Notification of action taken, ECOA notice, and statement of specific reasons--(1) When notification is required. A creditor shall notify an applicant of action taken within: (i) 30 days after receiving a completed application concerning the creditor's approval of, counteroffer to, or adverse action on the application; (ii) 30 days after taking adverse action on an incomplete application, unless notice is provided in accordance with paragraph (c) of this section; (iii) 30 days after taking adverse action on an existing account; or (iv) 90 days after notifying the applicant of a counteroffer if the applicant does not expressly accept or use the credit offered. (2) Content of notification when adverse action is taken. A notification given to an applicant when adverse action is taken shall be in writing and shall contain a statement of the action taken; the name and address of the creditor; a statement of the provisions of Sec. 701(a) of the Act; the name and address of the federal agency that administers compliance with respect to the creditor; and either: (i) A statement of specific reasons for the action taken; or (ii) A disclosure of the applicant's right to a statement of specific reasons within 30 days, if the statement is requested within 60 days of the creditor's notification. The disclosure shall include the name, address, and telephone number of the person or office from which the statement of reasons can be obtained. If the creditor chooses to provide the reasons orally, the creditor [[Page 27]] shall also disclose the applicant's right to have them confirmed in writing within 30 days of receiving the applicant's written request for confirmation. (3) Notification to business credit applicants. For business credit, a creditor shall comply with the notification requirements of this section in the following manner: (i) With regard to a business that had gross revenues of $1 million or less in its preceding fiscal year (other than an extension of trade credit, credit incident to a factoring agreement, or other similar types of business credit), a creditor shall comply with paragraphs (a)(1) and (2) of this section, except that: (A) The statement of the action taken may be given orally or in writing, when adverse action is taken; (B) Disclosure of an applicant's right to a statement of reasons may be given at the time of application, instead of when adverse action is taken, provided the disclosure contains the information required by paragraph (a)(2)(ii) of this section and the ECOA notice specified in paragraph (b)(1) of this section; (C) For an application made entirely by telephone, a creditor satisfies the requirements of paragraph (a)(3)(i) of this section by an oral statement of the action taken and of the applicant's right to a statement of reasons for adverse action. (ii) With regard to a business that had gross revenues in excess of $1 million in its preceding fiscal year or an extension of trade credit, credit incident to a factoring agreement, or other similar types of business credit, a creditor shall: (A) Notify the applicant, within a reasonable time, orally or in writing, of the action taken; and (B) Provide a written statement of the reasons for adverse action and the ECOA notice specified in paragraph (b)(1) of this section if the applicant makes a written request for the reasons within 60 days of the creditor's notification. (b) Form of ECOA notice and statement of specific reasons--(1) ECOA notice. To satisfy the disclosure requirements of paragraph (a)(2) of this section regarding section 701(a) of the Act, the creditor shall provide a notice that is substantially similar to the following: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is [name and address as specified by the appropriate agency listed in appendix A of this regulation]. (2) Statement of specific reasons. The statement of reasons for adverse action required by paragraph (a)(2)(i) of this section must be specific and indicate the principal reason(s) for the adverse action. Statements that the adverse action was based on the creditor's internal standards or policies or that the applicant, joint applicant, or similar party failed to achieve a qualifying score on the creditor's credit scoring system are insufficient. (c) Incomplete applications--(1) Notice alternatives. Within 30 days after receiving an application that is incomplete regarding matters that an applicant can complete, the creditor shall notify the applicant either: (i) Of action taken, in accordance with paragraph (a) of this section; or (ii) Of the incompleteness, in accordance with paragraph (c)(2) of this section. (2) Notice of incompleteness. If additional information is needed from an applicant, the creditor shall send a written notice to the applicant specifying the information needed, designating a reasonable period of time for the applicant to provide the information, and informing the applicant that failure to provide the information requested will result in no further consideration being given to the application. The creditor shall have no further obligation under this section if the applicant fails to respond within the designated time period. If the applicant supplies the requested information within the designated time period, the [[Page 28]] creditor shall take action on the application and notify the applicant in accordance with paragraph (a) of this section. (3) Oral request for information. At its option, a creditor may inform the applicant orally of the need for additional information. If the application remains incomplete the creditor shall send a notice in accordance with paragraph (c)(1) of this section. (d) Oral notifications by small-volume creditors. In the case of a creditor that did not receive more than 150 applications during the preceding calendar year, the requirements of this section (including statements of specific reasons) are satisfied by oral notifications. (e) Withdrawal of approved application. When an applicant submits an application and the parties contemplate that the applicant will inquire about its status, if the creditor approves the application and the applicant has not inquired within 30 days after applying, the creditor may treat the application as withdrawn and need not comply with paragraph (a)(1) of this section. (f) Multiple applicants. When an application involves more than one applicant, notification need only be given to one of them but must be given to the primary applicant where one is readily apparent. (g) Applications submitted through a third party. When an application is made on behalf of an applicant to more than one creditor and the applicant expressly accepts or uses credit offered by one of the creditors, notification of action taken by any of the other creditors is not required. If no credit is offered or if the applicant does not expressly accept or use the credit offered, each creditor taking adverse action must comply with this section, directly or through a third party. A notice given by a third party shall disclose the identity of each creditor on whose behalf the notice is given. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 72 FR 63451, Nov. 9, 2007] Sec. 202.10 Furnishing of credit information. (a) Designation of accounts. A creditor that furnishes credit information shall designate: (1) Any new account to reflect the participation of both spouses if the applicant's spouse is permitted to use or is contractually liable on the account (other than as a guarantor, surety, endorser, or similar party); and (2) Any existing account to reflect such participation, within 90 days after receiving a written request to do so from one of the spouses. (b) Routine reports to consumer reporting agency. If a creditor furnishes credit information to a consumer reporting agency concerning an account designated to reflect the participation of both spouses, the creditor shall furnish the information in a manner that will enable the agency to provide access to the information in the name of each spouse. (c) Reporting in response to inquiry. If a creditor furnishes credit information in response to an inquiry, concerning an account designated to reflect the participation of both spouses, the creditor shall furnish the information in the name of the spouse about whom the information is requested. Sec. 202.11 Relation to state law. (a) Inconsistent state laws. Except as otherwise provided in this section, this regulation alters, affects, or preempts only those state laws that are inconsistent with the Act and this regulation and then only to the extent of the inconsistency. A state law is not inconsistent if it is more protective of an applicant. (b) Preempted provisions of state law. (1) A state law is deemed to be inconsistent with the requirements of the Act and this regulation and less protective of an applicant within the meaning of section 705(f) of the Act to the extent that the law: (i) Requires or permits a practice or act prohibited by the Act or this regulation; (ii) Prohibits the individual extension of consumer credit to both parties to a marriage if each spouse individually and voluntarily applies for such credit; (iii) Prohibits inquiries or collection of data required to comply with the Act or this regulation; [[Page 29]] (iv) Prohibits asking about or considering age in an empirically derived, demonstrably and statistically sound, credit scoring system to determine a pertinent element of creditworthiness, or to favor an elderly applicant; or (v) Prohibits inquiries necessary to establish or administer a special purpose credit program as defined by Sec. 202.8. (2) A creditor, state, or other interested party may request that the Board determine whether a state law is inconsistent with the requirements of the Act and this regulation. (c) Laws on finance charges, loan ceilings. If married applicants voluntarily apply for and obtain individual accounts with the same creditor, the accounts shall not be aggregated or otherwise combined for purposes of determining permissible finance charges or loan ceilings under any federal or state law. Permissible loan ceiling laws shall be construed to permit each spouse to become individually liable up to the amount of the loan ceilings, less the amount for which the applicant is jointly liable. (d) State and federal laws not affected. This section does not alter or annul any provision of state property laws, laws relating to the disposition of decedents' estates, or federal or state banking regulations directed only toward insuring the solvency of financial institutions. (e) Exemption for state-regulated transactions--(1) Applications. A state may apply to the Board for an exemption from the requirements of the Act and this regulation for any class of credit transactions within the state. The Board will grant such an exemption if the Board determines that: (i) The class of credit transactions is subject to state law requirements substantially similar to those of the Act and this regulation or that applicants are afforded greater protection under state law; and (ii) There is adequate provision for state enforcement. (2) Liability and enforcement. (i) No exemption will extend to the civil liability provisions of section 706 of the Act or the administrative enforcement provisions of section 704 of the Act. (ii) After an exemption has been granted, the requirements of the applicable state law (except for additional requirements not imposed by federal law) will constitute the requirements of the Act and this regulation. Sec. 202.12 Record retention. (a) Retention of prohibited information. A creditor may retain in its files information that is prohibited by the Act or this regulation for use in evaluating applications, without violating the Act or this regulation, if the information was obtained: (1) From any source prior to March 23, 1977; (2) From consumer reporting agencies, an applicant, or others without the specific request of the creditor; or (3) As required to monitor compliance with the Act and this regulation or other federal or state statutes or regulations. (b) Preservation of records--(1) Applications. For 25 months (12 months for business credit, except as provided in paragraph (b)(5) of this section) after the date that a creditor notifies an applicant of action taken on an application or of incompleteness, the creditor shall retain in original form or a copy thereof: (i) Any application that it receives, any information required to be obtained concerning characteristics of the applicant to monitor compliance with the Act and this regulation or other similar law, and any other written or recorded information used in evaluating the application and not returned to the applicant at the applicant's request; (ii) A copy of the following documents if furnished to the applicant in written form (or, if furnished orally, any notation or memorandum made by the creditor): (A) The notification of action taken; and (B) The statement of specific reasons for adverse action; and (iii) Any written statement submitted by the applicant alleging a violation of the Act or this regulation. (2) Existing accounts. For 25 months (12 months for business credit, except as provided in paragraph (b)(5) of this section) after the date that a creditor [[Page 30]] notifies an applicant of adverse action regarding an existing account, the creditor shall retain as to that account, in original form or a copy thereof: (i) Any written or recorded information concerning the adverse action; and (ii) Any written statement submitted by the applicant alleging a violation of the Act or this regulation. (3) Other applications. For 25 months (12 months for business credit, except as provided in paragraph (b)(5) of this section) after the date that a creditor receives an application for which the creditor is not required to comply with the notification requirements of Sec. 202.9, the creditor shall retain all written or recorded information in its possession concerning the applicant, including any notation of action taken. (4) Enforcement proceedings and investigations. A creditor shall retain the information beyond 25 months (12 months for business credit, except as provided in paragraph (b)(5) of this section) if the creditor has actual notice that it is under investigation or is subject to an enforcement proceeding for an alleged violation of the Act or this part, by the Attorney General of the United States or by an enforcement agency charged with monitoring that creditor's compliance with the Act and this regulation, or if it has been served with notice of an action filed pursuant to section 706 of the Act and Sec. 202.16 of this part. The creditor shall retain the information until final disposition of the matter, unless an earlier time is allowed by order of the agency or court. (5) Special rule for certain business credit applications. With regard to a business that had gross revenues in excess of $1 million in its preceding fiscal year, or an extension of trade credit, credit incident to a factoring agreement, or other similar types of business credit, the creditor shall retain records for at least 60 days after notifying the applicant of the action taken. If within that time period the applicant requests in writing the reasons for adverse action or that records be retained, the creditor shall retain records for 12 months. (6) Self-tests. For 25 months after a self-test (as defined in Sec. 202.15) has been completed, the creditor shall retain all written or recorded information about the self-test. A creditor shall retain information beyond 25 months if it has actual notice that it is under investigation or is subject to an enforcement proceeding for an alleged violation, or if it has been served with notice of a civil action. In such cases, the creditor shall retain the information until final disposition of the matter, unless an earlier time is allowed by the appropriate agency or court order. (7) Prescreened solicitations. For 25 months after the date on which an offer of credit is made to potential customers (12 months for business credit, except as provided in paragraph (b)(5) of this section), the creditor shall retain in original form or a copy thereof: (i) The text of any prescreened solicitation; (ii) The list of criteria the creditor used to select potential recipients of the solicitation; and (iii) Any correspondence related to complaints (formal or informal) about the solicitation. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 76 FR 41599, July 15, 2011] Sec. 202.13 Information for monitoring purposes. (a) Information to be requested. (1) A creditor that receives an application for credit primarily for the purchase or refinancing of a dwelling occupied or to be occupied by the applicant as a principal residence, where the extension of credit will be secured by the dwelling, shall request as part of the application the following information regarding the applicant(s): (i) Ethnicity, using the categories Hispanic or Latino, and not Hispanic or Latino; and race, using the categories American Indian or Alaska Native, Asian, Black or African American, Native Hawaiian or Other Pacific Islander, and White; (ii) Sex; (iii) Marital status, using the categories married, unmarried, and separated; and (iv) Age. (2) Dwelling means a residential structure that contains one to four units, whether or not that structure is [[Page 31]] attached to real property. The term includes, but is not limited to, an individual condominium or cooperative unit and a mobile or other manufactured home. (b) Obtaining information. Questions regarding ethnicity, race, sex, marital status, and age may be listed, at the creditor's option, on the application form or on a separate form that refers to the application. The applicant(s) shall be asked but not required to supply the requested information. If the applicant(s) chooses not to provide the information or any part of it, that fact shall be noted on the form. The creditor shall then also note on the form, to the extent possible, the ethnicity, race, and sex of the applicant(s) on the basis of visual observation or surname. (c) Disclosure to applicant(s). The creditor shall inform the applicant(s) that the information regarding ethnicity, race, sex, marital status, and age is being requested by the federal government for the purpose of monitoring compliance with federal statutes that prohibit creditors from discriminating against applicants on those bases. The creditor shall also inform the applicant(s) that if the applicant(s) chooses not to provide the information, the creditor is required to note the ethnicity, race and sex on the basis of visual observation or surname. (d) Substitute monitoring program. A monitoring program required by an agency charged with administrative enforcement under section 704 of the Act may be substituted for the requirements contained in paragraphs (a), (b), and (c) of this section. Sec. 202.14 Rules on providing appraisal reports. (a) Providing appraisals. A creditor shall provide a copy of an appraisal report used in connection with an application for credit that is to be secured by a lien on a dwelling. A creditor shall comply with either paragraph (a)(1) or (a)(2) of this section. (1) Routine delivery. A creditor may routinely provide a copy of an appraisal report to an applicant (whether credit is granted or denied or the application is withdrawn). (2) Upon request. A creditor that does not routinely provide appraisal reports shall provide a copy upon an applicant's written request. (i) Notice. A creditor that provides appraisal reports only upon request shall notify an applicant in writing of the right to receive a copy of an appraisal report. The notice may be given at any time during the application process but no later than when the creditor provides notice of action taken under Sec. 202.9 of this regulation. The notice shall specify that the applicant's request must be in writing, give the creditor's mailing address, and state the time for making the request as provided in paragraph (a)(2)(ii) of this section. (ii) Delivery. A creditor shall mail or deliver a copy of the appraisal report promptly (generally within 30 days) after the creditor receives an applicant's request, receives the report, or receives reimbursement from the applicant for the report, whichever is last to occur. A creditor need not provide a copy when the applicant's request is received more than 90 days after the creditor has provided notice of action taken on the application under Sec. 202.9 of this regulation or 90 days after the application is withdrawn. (b) Credit unions. A creditor that is subject to the regulations of the National Credit Union Administration on making copies of appraisal reports available is not subject to this section. (c) Definitions. For purposes of paragraph (a) of this section, the term dwelling means a residential structure that contains one to four units whether or not that structure is attached to real property. The term includes, but is not limited to, an individual condominium or cooperative unit, and a mobile or other manufactured home. The term appraisal report means the document(s) relied upon by a creditor in evaluating the value of the dwelling. Sec. 202.15 Incentives for self-testing and self-correction. (a) General rules--(1) Voluntary self-testing and correction. The report or results of a self-test that a creditor voluntarily conducts (or authorizes) are privileged as provided in this section. Data collection required by law or by any governmental authority is not a voluntary self-test. [[Page 32]] (2) Corrective action required. The privilege in this section applies only if the creditor has taken or is taking appropriate corrective action. (3) Other privileges. The privilege created by this section does not preclude the assertion of any other privilege that may also apply. (b) Self-test defined--(1) Definition. A self-test is any program, practice, or study that: (i) Is designed and used specifically to determine the extent or effectiveness of a creditor's compliance with the Act or this regulation; and (ii) Creates data or factual information that is not available and cannot be derived from loan or application files or other records related to credit transactions. (2) Types of information privileged. The privilege under this section applies to the report or results of the self-test, data or factual information created by the self-test, and any analysis, opinions, and conclusions pertaining to the self-test report or results. The privilege covers workpapers or draft documents as well as final documents. (3) Types of information not privileged. The privilege under this section does not apply to: (i) Information about whether a creditor conducted a self-test, the methodology used or the scope of the self-test, the time period covered by the self-test, or the dates it was conducted; or (ii) Loan and application files or other business records related to credit transactions, and information derived from such files and records, even if the information has been aggregated, summarized, or reorganized to facilitate analysis. (c) Appropriate corrective action--(1) General requirement. For the privilege in this section to apply, appropriate corrective action is required when the self-test shows that it is more likely than not that a violation occurred, even though no violation has been formally adjudicated. (2) Determining the scope of appropriate corrective action. A creditor must take corrective action that is reasonably likely to remedy the cause and effect of a likely violation by: (i) Identifying the policies or practices that are the likely cause of the violation; and (ii) Assessing the extent and scope of any violation. (3) Types of relief. Appropriate corrective action may include both prospective and remedial relief, except that to establish a privilege under this section: (i) A creditor is not required to provide remedial relief to a tester used in a self-test; (ii) A creditor is only required to provide remedial relief to an applicant identified by the self-test as one whose rights were more likely than not violated; and (iii) A creditor is not required to provide remedial relief to a particular applicant if the statute of limitations applicable to the violation expired before the creditor obtained the results of the self- test or the applicant is otherwise ineligible for such relief. (4) No admission of violation. Taking corrective action is not an admission that a violation occurred. (d) Scope of privilege--(1) General rule. The report or results of a privileged self-test may not be obtained or used: (i) By a government agency in any examination or investigation relating to compliance with the Act or this regulation; or (ii) By a government agency or an applicant (including a prospective applicant who alleges a violation of Sec. 202.4(b)) in any proceeding or civil action in which a violation of the Act or this regulation is alleged. (2) Loss of privilege. The report or results of a self-test are not privileged under paragraph (d)(1) of this section if the creditor or a person with lawful access to the report or results: (i) Voluntarily discloses any part of the report or results, or any other information privileged under this section, to an applicant or government agency or to the public; (ii) Discloses any part of the report or results, or any other information privileged under this section, as a defense to charges that the creditor has violated the Act or regulation; or (iii) Fails or is unable to produce written or recorded information about [[Page 33]] the self-test that is required to be retained under Sec. 202.12(b)(6) when the information is needed to determine whether the privilege applies. This paragraph does not limit any other penalty or remedy that may be available for a violation of Sec. 202.12. (3) Limited use of privileged information. Notwithstanding paragraph (d)(1) of this section, the self-test report or results and any other information privileged under this section may be obtained and used by an applicant or government agency solely to determine a penalty or remedy after a violation of the Act or this regulation has been adjudicated or admitted. Disclosures for this limited purpose may be used only for the particular proceeding in which the adjudication or admission was made. Information disclosed under this paragraph (d)(3) remains privileged under paragraph (d)(1) of this section. Sec. 202.16 Enforcement, penalties and liabilities. (a) Administrative enforcement. (1) As set forth more fully in section 704 of the Act, administrative enforcement of the Act and this regulation regarding certain creditors is assigned to the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Board of Directors of the Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration, Surface Transportation Board, Secretary of Agriculture, Farm Credit Administration, Securities and Exchange Commission, Small Business Administration, and Secretary of Transportation. (2) Except to the extent that administrative enforcement is specifically assigned to other authorities, compliance with the requirements imposed under the Act and this regulation is enforced by the Federal Trade Commission. (b) Penalties and liabilities. (1) Sections 702(g) and 706(a) and (b) of the Act provide that any creditor that fails to comply with a requirement imposed by the Act or this regulation is subject to civil liability for actual and punitive damages in individual or class actions. Pursuant to sections 702(g) and 704(b), (c), and (d) of the Act, violations of the Act or this regulation also constitute violations of other federal laws. Liability for punitive damages can apply only to nongovernmental entities and is limited to $10,000 in individual actions and the lesser of $500,000 or 1 percent of the creditor's net worth in class actions. Section 706(c) provides for equitable and declaratory relief and section 706(d) authorizes the awarding of costs and reasonable attorney's fees to an aggrieved applicant in a successful action. (2) As provided in section 706(f), a civil action under the Act or this regulation may be brought in the appropriate United States district court without regard to the amount in controversy or in any other court of competent jurisdiction within two years after the date of the occurrence of the violation, or within one year after the commencement of an administrative enforcement proceeding or of a civil action brought by the Attorney General of the United States within two years after the alleged violation. (3) If an agency responsible for administrative enforcement is unable to obtain compliance with the Act or this regulation, it may refer the matter to the Attorney General of the United States. If the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, or the National Credit Union Administration has reason to believe that one or more creditors have engaged in a pattern or practice of discouraging or denying applications in violation of the Act or this regulation, the agency shall refer the matter to the Attorney General. If the agency has reason to believe that one or more creditors violated section 701(a) of the Act, the agency may refer a matter to the Attorney General. (4) On referral, or whenever the Attorney General has reason to believe that one or more creditors have engaged in a pattern or practice in violation of the Act or this regulation, the Attorney General may bring a civil action for such relief as may be appropriate, including actual and punitive damages and injunctive relief. (5) If the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, or the National [[Page 34]] Credit Union Administration has reason to believe (as a result of a consumer complaint, a consumer compliance examination, or some other basis) that a violation of the Act or this regulation has occurred which is also a violation of the Fair Housing Act, and the matter is not referred to the Attorney General, the agency shall: (i) Notify the Secretary of Housing and Urban Development; and (ii) Inform the applicant that the Secretary of Housing and Urban Development has been notified and that remedies may be available under the Fair Housing Act. (c) Failure of compliance. A creditor's failure to comply with Sec. Sec. 202.6(b)(6), 202.9, 202.10, 202.12 or 202.13 is not a violation if it results from an inadvertent error. On discovering an error under Sec. Sec. 202.9 and 202.10, the creditor shall correct it as soon as possible. If a creditor inadvertently obtains the monitoring information regarding the ethnicity, race, and sex of the applicant in a dwelling-related transaction not covered by Sec. 202.13, the creditor may retain information and act on the application without violating the regulation. [Reg. B, 68 FR 13161, Mar. 18, 2003. Redesignated at 72 FR 63451, Nov. 9, 2007] Sec. 202.17 Data collection for credit applications by women-owned, minority-owned, or small businesses. No motor vehicle dealer covered by section 1029(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 12 U.S.C. 5519(a), shall be required to comply with the requirements of section 704B of the Equal Credit Opportunity Act, 15 U.S.C. 1691c-2, until the effective date of final rules issued by the Board to implement section 704B of the Act, 15 U.S.C. 1691c-2. This paragraph shall not be construed to affect the effective date of section 704B of the Act for any person other than a motor vehicle dealer covered by section 1029(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. [Reg. B, 76 FR 59239, Sept. 26, 2011] Sec. Appendix A to Part 202--Federal Enforcement Agencies The following list indicates the federal agencies that enforce Regulation B for particular classes of creditors. Any questions concerning a particular creditor should be directed to its enforcement agency. Terms that are not defined in the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in the International Banking Act of 1978 (12 U.S.C. 3101). National banks, and federal branches and federal agencies of foreign banks: Office of the Comptroller of the Currency, Customer Assistance Group, 1301 McKinney Street, Suite 3450, Houston, TX 77010-9050 State member banks, branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act: Federal Reserve Consumer Help Center, P.O. Box 1200, Minneapolis, MN 55480. Nonmember Insured Banks and Insured State Branches of Foreign Banks: FDIC Consumer Response Center, 1100 Walnut Street, Box 11, Kansas City, MO 64106. Savings institutions under the Savings Association Insurance Fund of the FDIC and federally chartered savings banks insured under the Bank Insurance Fund of the FDIC (but not including state-chartered savings banks insured under the Bank Insurance Fund): Office of Thrift Supervision, Consumer Response Unit, 1700 G Street, NW., Washington, DC 20552. Federal Credit Unions: Regional office of the National Credit Union Administration serving the area in which the federal credit union is located. Air carriers: Assistant General Counsel for Aviation Enforcement and Proceedings, Department of Transportation, 400 Seventh Street, SW., Washington, DC 20590 Creditors Subject to Surface Transportation Board: Office of Proceedings, Surface Transportation Board, Department of Transportation, 1925 K Street NW., Washington, DC 20423 Creditors Subject to Packers and Stockyards Act: Nearest Packers and Stockyards Administration area supervisor. Small Business Investment Companies: Associate Deputy Administrator for Capital Access, United States Small Business Administration, 409 Third Street, SW., 8th Floor, Washington, DC 20416. Brokers and Dealers: Securities and Exchange Commission, Washington, DC 20549. Federal Land Banks, Federal Land Bank Associations, Federal Intermediate Credit Banks, and Production Credit Associations: Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090. [[Page 35]] Retailers, Finance Companies, and All Other Creditors Not Listed Above: FTC Regional Office for region in which the creditor operates or Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 71 FR 11296, Mar. 7, 2006; 71 FR 28563, May 17, 2006; 72 FR 55020, Sept. 28, 2007; 73 FR 33663, June 13, 2008; 73 FR 53685, Sept. 17, 2008; 76 FR 31451, June 1, 2011] Sec. Appendix B to Part 202--Model Application Forms 1. This appendix contains five model credit application forms, each designated for use in a particular type of consumer credit transaction as indicated by the bracketed caption on each form. The first sample form is intended for use in open-end, unsecured transactions; the second for closed-end, secured transactions; the third for closed-end transactions, whether unsecured or secured; the fourth in transactions involving community property or occurring in community property states; and the fifth in residential mortgage transactions which contains a model disclosure for use in complying with Sec. 202.13 for certain dwelling-related loans. All forms contained in this appendix are models; their use by creditors is optional. 2. The use or modification of these forms is governed by the following instructions. A creditor may change the forms: by asking for additional information not prohibited by Sec. 202.5; by deleting any information request; or by rearranging the format without modifying the substance of the inquiries. In any of these three instances, however, the appropriate notices regarding the optional nature of courtesy titles, the option to disclose alimony, child support, or separate maintenance, and the limitation concerning marital status inquiries must be included in the appropriate places if the items to which they relate appear on the creditor's form. 3. If a creditor uses an appropriate Appendix B model form, or modifies a form in accordance with the above instructions, that creditor shall be deemed to be acting in compliance with the provisions of paragraphs (b), (c) and (d) of Sec. 202.5 of this regulation. [[Page 36]] [GRAPHIC] [TIFF OMITTED] TR18MR03.096 [[Page 37]] [GRAPHIC] [TIFF OMITTED] TR18MR03.097 [[Page 38]] [GRAPHIC] [TIFF OMITTED] TR18MR03.098 [[Page 39]] [GRAPHIC] [TIFF OMITTED] TR18MR03.099 [[Page 40]] [GRAPHIC] [TIFF OMITTED] TR18MR03.100 [[Page 41]] [GRAPHIC] [TIFF OMITTED] TR18MR03.101 [[Page 42]] [GRAPHIC] [TIFF OMITTED] TR18MR03.102 [[Page 43]] [GRAPHIC] [TIFF OMITTED] TR18MR03.103 [[Page 44]] [GRAPHIC] [TIFF OMITTED] TR11SE03.045 [[Page 45]] [GRAPHIC] [TIFF OMITTED] TR11SE03.046 [[Page 46]] [GRAPHIC] [TIFF OMITTED] TR11SE03.047 [[Page 47]] [GRAPHIC] [TIFF OMITTED] TR11SE03.048 [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 68 FR 53491, Sept. 11, 2003] [[Page 48]] Sec. Appendix C to Part 202--Sample Notification Forms 1. This appendix contains ten sample notification forms. Forms C-1 through C-4 are intended for use in notifying an applicant that adverse action has been taken on an application or account under Sec. Sec. 202.9(a)(1) and (2)(i) of this regulation. Form C-5 is a notice of disclosure of the right to request specific reasons for adverse action under Sec. Sec. 202.9(a)(1) and (2)(ii). Form C-6 is designed for use in notifying an applicant, under Sec. 202.9(c)(2), that an application is incomplete. Forms C-7 and C-8 are intended for use in connection with applications for business credit under Sec. 202.9(a)(3). Form C-9 is designed for use in notifying an applicant of the right to receive a copy of an appraisal under Sec. 202.14. Form C-10 is designed for use in notifying an applicant for nonmortgage credit that the creditor is requesting applicant characteristic information. 2. Form C-1 contains the Fair Credit Reporting Act disclosure as required by sections 615(a) and (b) of that act. Forms C-2 through C-5 contain only the section 615(a) disclosure (that a creditor obtained information from a consumer reporting agency that was considered in the credit decision and, as applicable, a credit score used in taking adverse action along with related information). A creditor must provide the section 615(a) disclosure when adverse action is taken against a consumer based on information from a consumer reporting agency. A creditor must provide the section 615(b) disclosure when adverse action is taken based on information from an outside source other than a consumer reporting agency. In addition, a creditor must provide the section 615(b) disclosure if the creditor obtained information from an affiliate other than information in a consumer report or other than information concerning the affiliate's own transactions or experiences with the consumer. Creditors may comply with the disclosure requirements for adverse action based on information in a consumer report obtained from an affiliate by providing either the section 615(a) or section 615(b) disclosure. Optional language in Forms C-1 through C-5 may be used to direct the consumer to the entity that provided the credit score for any questions about the credit score, along with the entity's contact information. Creditors may use or not use this additional language without losing the safe harbor, since the language is optional. 3. The sample forms are illustrative and may not be appropriate for all creditors. They were designed to include some of the factors that creditors most commonly consider. If a creditor chooses to use the checklist of reasons provided in one of the sample forms in this appendix and if reasons commonly used by the creditor are not provided on the form, the creditor should modify the checklist by substituting or adding other reasons. For example, if ``inadequate down payment'' or ``no deposit relationship with us'' are common reasons for taking adverse action on an application, the creditor ought to add or substitute such reasons for those presently contained on the sample forms. 4. If the reasons listed on the forms are not the factors actually used, a creditor will not satisfy the notice requirement by simply checking the closest identifiable factor listed. For example, some creditors consider only references from banks or other depository institutions and disregard finance company references altogether; their statement of reasons should disclose ``insufficient bank references,'' not ``insufficient credit references.'' Similarly, a creditor that considers bank references and other credit references as distinct factors should treat the two factors separately and disclose them as appropriate. The creditor should either add such other factors to the form or check ``other'' and include the appropriate explanation. The creditor need not, however, describe how or why a factor adversely affected the application. For example, the notice may say ``length of residence'' rather than ``too short a period of residence.'' 5. A creditor may design its own notification forms or use all or a portion of the forms contained in this appendix. Proper use of Forms C-1 through C-4 will satisfy the requirement of Sec. 202.9(a)(2)(i). Proper use of Forms C-5 and C-6 constitutes full compliance with Sec. Sec. 202.9(a)(2)(ii) and 202.9(c)(2), respectively. Proper use of Forms C-7 and C-8 will satisfy the requirements of Sec. 202.9(a)(2)(i) and (ii), respectively, for applications for business credit. Proper use of Form C-9 will satisfy the requirements of Sec. 202.14 of this part. Proper use of Form C-10 will satisfy the requirements of Sec. 202.5(b)(1). Form C-1--Sample Notice of Action Taken and Statement of Reasons Statement of Credit Denial, Termination or Change Date:___________________________________________________________________ Applicant's Name:_______________________________________________________ Applicant's Address:____________________________________________________ Description of Account, Transaction, or Requested Credit: ________________________________________________________________________ ________________________________________________________________________ Description of Action Taken: ________________________________________________________________________ ________________________________________________________________________ Part I--Principal Reason(s) for Credit Denial, Termination, or Other Action Taken Concerning Credit This section must be completed in all instances. [[Page 49]] ____Credit application incomplete ____Insufficient number of credit references provided ____Unacceptable type of credit references provided ____Unable to verify credit references ____Temporary or irregular employment ____Unable to verify employment ____Length of employment ____Income insufficient for amount of credit requested ____Excessive obligations in relation to income ____Unable to verify income ____Length of residence ____Temporary residence ____Unable to verify residence ____No credit file ____Limited credit experience ____Poor credit performance with us ____Delinquent past or present credit obligations with others ____Collection action or judgment ____Garnishment or attachment ____Foreclosure or repossession ____Bankruptcy ____Number of recent inquiries on credit bureau report ____Value or type of collateral not sufficient ____Other, specify:____________ Part II--Disclosure of Use of Information Obtained From an Outside Source This section should be completed if the credit decision was based in whole or in part on information that has been obtained from an outside source. ____Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. Name:___________________________________________________________________ Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number___________________________________________ [We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:____________ Date:____________ Scores range from a low of____________to a high of____________ Key factors that adversely affected your credit score: ____________ ____________ ____________ ____________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:___________________________________________ ____Our credit decision was based in whole or in part on information obtained from an affiliate or from an outside source other than a consumer reporting agency. Under the Fair Credit Reporting Act, you have the right to make a written request, no later than 60 days after you receive this notice, for disclosure of the nature of this information. If you have any questions regarding this notice, you should contact: Creditor's name:________________________________________________________ Creditor's address:_____________________________________________________ Creditor's telephone number:____________________________________________ Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is (name and address as specified by the appropriate agency listed in appendix A). Form C-2--Sample Notice of Action Taken and Statement of Reasons Date Dear Applicant: Thank you for your recent application. Your request for [a loan/a credit card/an increase in your credit limit] was carefully considered, and we regret that we are unable to approve your application at this time, for the following reason(s): Your Income: ____is below our minimum requirement. ____is insufficient to sustain payments on the amount of credit requested. ____could not be verified. Your Employment: ____is not of sufficient length to qualify. ____could not be verified. [[Page 50]] Your Credit History: ____of making payments on time was not satisfactory. ____could not be verified. Your Application: ____lacks a sufficient number of credit references. ____lacks acceptable types of credit references. ____reveals that current obligations are excessive in relation to income. Other:__________________________________________________________________ The consumer reporting agency contacted that provided information that influenced our decision in whole or in part was [name, address and [toll-free] telephone number of the reporting agency]. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. Any questions regarding such information should be directed to [consumer reporting agency]. If you have any questions regarding this letter, you should contact us at [creditor's name, address and telephone number]. [We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:______________________________________________________ Date:___________________________________________________________________ Scores range from a low of____________to a high of____________ Key factors that adversely affected your credit score: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: ddress:_________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:____________________]] Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is (name and address as specified by the appropriate agency listed in appendix A). Form C-3--Sample Notice of Action Taken and Statement of Reasons [(Credit Scoring)] Date Dear Applicant: Thank you for your recent application for ________. We regret that we are unable to approve your request. [Reasons for Denial of Credit] Your application was processed by a [credit scoring] system that assigns a numerical value to the various items of information we consider in evaluating an application. These numerical values are based upon the results of analyses of repayment histories of large numbers of customers. The information you provided in your application did not score a sufficient number of points for approval of the application. The reasons you did not score well compared with other applicants were Insufficient bank references Type of occupation Insufficient credit experience Number of recent inquiries on credit bureau report [Your Right to Get Your Consumer Report] In evaluating your application the consumer reporting agency listed below provided us with information that in whole or in part influenced our decision. The consumer reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. It can be obtained by contacting: [name, address, and [toll-free] telephone number of the consumer reporting agency]. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. [Information about Your Credit Score] We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit [[Page 51]] score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:______________________________________________________ Date:___________________________________________________________________ Scores range from a low of ________to a high of________ Key factors that adversely affected your credit score: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:____________________]] If you have any questions regarding this letter, you should contact us at Creditor's Name:________________________________________________________ Address:________________________________________________________________ ________________________________________________________________________ Telephone:______________________________________________________________ Sincerely, Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (with certain limited exceptions); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is (name and address as specified by the appropriate agency listed in appendix A). Form C-4--Sample Notice of Action Taken, Statement of Reasons and Counteroffer Date Dear Applicant: Thank you for your application for ________. We are unable to offer you credit on the terms that you requested for the following reason(s): ________________________________________________________________________ We can, however, offer you credit on the following terms: ________________________________________________________________________ If this offer is acceptable to you, please notify us within [amount of time] at the following address: ________. Our credit decision on your application was based in whole or in part on information obtained in a report from [name, address and [toll- free] telephone number of the consumer reporting agency]. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. [We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:______________________________________________________ Date____________________________________________________________________ Scores range from a low of ____________ to a high of ____________ Key factors that adversely affected your credit score: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:____________________]] You should know that the federal Equal Credit Opportunity Act prohibits creditors, such as ourselves, from discriminating against credit applicants on the basis of their race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract), because they receive income from a public assistance program, or because they may have exercised their rights under the Consumer Credit Protection Act. If you believe there has been discrimination in handling your application you should contact the [name and address of the appropriate federal enforcement agency listed in appendix A]. Sincerely, [[Page 52]] Form C-5--Sample Disclosure of Right to Request Specific Reasons for Credit Denial Date Dear Applicant: Thank you for applying to us for ________. After carefully reviewing your application, we are sorry to advise you that we cannot [open an account for you/grant a loan to you/increase your credit limit] at this time. If you would like a statement of specific reasons why your application was denied, please contact [our credit service manager] shown below within 60 days of the date of this letter. We will provide you with the statement of reasons within 30 days after receiving your request. Creditor's Name Address Telephone Number If we obtained information from a consumer reporting agency as part of our consideration of your application, its name, address, and [toll- free] telephone number is shown below. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. [You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency.] You have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you received is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. You can find out about the information contained in your file (if one was used) by contacting: Consumer reporting agency's name Address [Toll-free] Telephone number [We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:______________________________________________________ Date:___________________________________________________________________ Scores range from a low of ____________ to a high of ____________ Key factors that adversely affected your credit score: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:____________________]] Sincerely, Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is (name and address as specified by the appropriate agency listed in appendix A). Form C-6--Sample Notice of Incomplete Application and Request for Additional Information Creditor's name Address Telephone number Date Dear Applicant: Thank you for your application for credit. The following information is needed to make a decision on your application: __________ ________________________________________________________________________ We need to receive this information by __________(date). If we do not receive it by that date, we will regrettably be unable to give further consideration to your credit request. Sincerely, Form C-7--Sample Notice of Action Taken and Statement of Reasons (Business Credit) Creditor's Name Creditor's address Date Dear Applicant: Thank you for applying to us for credit. We have given your request careful consideration, and regret that we are unable to extend credit to you at this time for the following reasons: (Insert appropriate reason, such as: Value or type of collateral not sufficient; Lack of established earnings record; Slow or past due in trade or loan payments) Sincerely, Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant [[Page 53]] has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is [name and address as specified by the appropriate agency listed in appendix A]. Form C-8--Sample Disclosure of Right To Request Specific Reasons for Credit Denial Given at Time of Application (Business Credit) Creditor's name Creditor's address If your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please contact [name, address and telephone number of the person or office from which the statement of reasons can be obtained] within 60 days from the date you are notified of our decision. We will send you a written statement of reasons for the denial within 30 days of receiving your request for the statement. Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is [name and address as specified by the appropriate agency listed in appendix A]. Form C-9--Sample Disclosure of Right To Receive a Copy of an Appraisal You have the right to a copy of the appraisal report used in connection with your application for credit. If you wish a copy, please write to us at the mailing address we have provided. We must hear from you no later than 90 days after we notify you about the action taken on your credit application or you withdraw your application. [In your letter, give us the following information:] Form C-10--Sample Disclosure About Voluntary Data Notation We are requesting the following information to monitor our compliance with the federal Equal Credit Opportunity Act, which prohibits unlawful discrimination. You are not required to provide this information. We will not take this information (or your decision not to provide this information) into account in connection with your application or credit transaction. The law provides that a creditor may not discriminate based on this information, or based on whether or not you choose to provide it. [If you choose not to provide the information, we will note it by visual observation or surname]. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 76 FR 41600, July 15, 2011] Sec. Appendix D to Part 202--Issuance of Staff Interpretations 1. Official Staff Interpretations. Officials in the Board's Division of Consumer and Community Affairs are authorized to issue official staff interpretations of this regulation. These interpretations provide the protection afforded under section 706(e) of the Act. Except in unusual circumstances, such interpretations will not be issued separately but will be incorporated in an official commentary to the regulation, which will be amended periodically. 2. Requests for Issuance of Official Staff Interpretations. A request for an official staff interpretation should be in writing and addressed to the Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551. The request should contain a complete statement of all relevant facts concerning the issue, including copies of all pertinent documents. 3. Scope of Interpretations. No staff interpretations will be issued approving creditors' forms or statements. This restriction does not apply to forms or statements whose use is required or sanctioned by a government agency. Sec. Supplement I to Part 202--Official Staff Interpretations Following is an official staff interpretation of Regulation B (12 CFR part 202) issued under authority delegated by the Federal Reserve Board to officials in the Division of Consumer and Community Affairs. References are to sections of the regulation or the Equal Credit Opportunity Act (15 U.S.C. 1601 et seq.). Introduction 1. Official status. Section 706(e) of the Equal Credit Opportunity Act protects a creditor from civil liability for any act done or omitted in good faith in conformity with an interpretation issued by a duly authorized official of the Federal Reserve Board. This commentary is the means by which the Division of Consumer and Community Affairs of the Federal Reserve Board issues official staff interpretations of Regulation B. Good-faith compliance with this commentary affords a [[Page 54]] creditor protection under section 706(e) of the Act. 2. Issuance of interpretations. Under Appendix D to the regulation, any person may request an official staff interpretation. Interpretations will be issued at the discretion of designated officials and incorporated in this commentary following publication for comment in the Federal Register. Except in unusual circumstances, official staff interpretations will be issued only by means of this commentary. 3. Status of previous interpretations. Interpretations of Regulation B previously issued by the Federal Reserve Board and its staff have been incorporated into this commentary as appropriate. All other previous Board and staff interpretations, official and unofficial, are superseded by this commentary. 4. Footnotes. Footnotes in the regulation have the same legal effect as the text of the regulation, whether they are explanatory or illustrative in nature. 5. Comment designations. The comments are designated with as much specificity as possible according to the particular regulatory provision addressed. Each comment in the commentary is identified by a number and the regulatory section or paragraph that it interprets. For example, comments to Sec. 202.2(c) are further divided by subparagraph, such as comment 2(c)(1)(ii)-1 and comment 2(c)(2)(ii)-1. Section 202.1--Authority, Scope, and Purpose 1(a) Authority and scope. 1. Scope. The Equal Credit Opportunity Act and Regulation B apply to all credit--commercial as well as personal--without regard to the nature or type of the credit or the creditor. If a transaction provides for the deferral of the payment of a debt, it is credit covered by Regulation B even though it may not be a credit transaction covered by Regulation Z (Truth in Lending) (12 CFR part 226). Further, the definition of creditor is not restricted to the party or person to whom the obligation is initially payable, as is the case under Regulation Z. Moreover, the Act and regulation apply to all methods of credit evaluation, whether performed judgmentally or by use of a credit scoring system. 2. Foreign applicability. Regulation B generally does not apply to lending activities that occur outside the United States. The regulation does apply to lending activities that take place within the United States (as well as the Commonwealth of Puerto Rico and any territory or possession of the United States), whether or not the applicant is a citizen. 3. Board. The term Board, as used in this regulation, means the Board of Governors of the Federal Reserve System. Section 202.2--Definitions 2(c) Adverse action. Paragraph 2(c)(1)(i) 1. Application for credit. If the applicant applied in accordance with the creditor's procedures, a refusal to refinance or extend the term of a business or other loan is adverse action. Paragraph 2(c)(1)(ii) 1. Move from service area. If a credit card issuer terminates the open-end account of a customer because the customer has moved out of the card issuer's service area, the termination is adverse action unless termination on this ground was explicitly provided for in the credit agreement between the parties. In cases where termination is adverse action, notification is required under Sec. 202.9. 2. Termination based on credit limit. If a creditor terminates credit accounts that have low credit limits (for example, under $400) but keeps open accounts with higher credit limits, the termination is adverse action and notification is required under Sec. 202.9. Paragraph 2(c)(2)(ii) 1. Default--exercise of due-on-sale clause. If a mortgagor sells or transfers mortgaged property without the consent of the mortgagee, and the mortgagee exercises its contractual right to accelerate the mortgage loan, the mortgagee may treat the mortgagor as being in default. An adverse action notice need not be given to the mortgagor or the transferee. (See comment 2(e)-1 for treatment of a purchaser who requests to assume the loan.) 2. Current delinquency or default. The term adverse action does not include a creditor's termination of an account when the accountholder is currently in default or delinquent on that account. Notification in accordance with Sec. 202.9 of the regulation generally is required, however, if the creditor's action is based on a past delinquency or default on the account. Paragraph 2(c)(2)(iii) 1. Point-of-sale transactions. Denial of credit at point of sale is not adverse action except under those circumstances specified in the regulation. For example, denial at point of sale is not adverse action in the following situations: i. A credit cardholder presents an expired card or a card that has been reported to the card issuer as lost or stolen. ii. The amount of a transaction exceeds a cash advance or credit limit. iii. The circumstances (such as excessive use of a credit card in a short period of time) suggest that fraud is involved. [[Page 55]] iv. The authorization facilities are not functioning. v. Billing statements have been returned to the creditor for lack of a forwarding address. 2. Application for increase in available credit. A refusal or failure to authorize an account transaction at the point of sale or loan is not adverse action except when the refusal is a denial of an application, submitted in accordance with the creditor's procedures, for an increase in the amount of credit. Paragraph 2(c)(2)(v) 1. Terms of credit versus type of credit offered. When an applicant applies for credit and the creditor does not offer the credit terms requested by the applicant (for example, the interest rate, length of maturity, collateral, or amount of downpayment), a denial of the application for that reason is adverse action (unless the creditor makes a counteroffer that is accepted by the applicant) and the applicant is entitled to notification under Sec. 202.9. 2(e) Applicant. 1. Request to assume loan. If a mortgagor sells or transfers the mortgaged property and the buyer makes an application to the creditor to assume the mortgage loan, the mortgagee must treat the buyer as an applicant unless its policy is not to permit assumptions. 2(f) Application. 1. General. A creditor has the latitude under the regulation to establish its own application process and to decide the type and amount of information it will require from credit applicants. 2. Procedures used. The term ``procedures'' refers to the actual practices followed by a creditor for making credit decisions as well as its stated application procedures. For example, if a creditor's stated policy is to require all applications to be in writing on the creditor's application form, but the creditor also makes credit decisions based on oral requests, the creditor's procedures are to accept both oral and written applications. 3. When an inquiry or prequalification request becomes an application. A creditor is encouraged to provide consumers with information about loan terms. However, if in giving information to the consumer the creditor also evaluates information about the consumer, decides to decline the request, and communicates this to the consumer, the creditor has treated the inquiry or prequalification request as an application and must then comply with the notification requirements under Sec. 202.9. Whether the inquiry or prequalification request becomes an application depends on how the creditor responds to the consumer, not on what the consumer says or asks. (See comment 9-5 for further discussion of prequalification requests; see comment 2(f)-5 for a discussion of preapproval requests.) 4. Examples of inquiries that are not applications. The following examples illustrate situations in which only an inquiry has taken place: i. A consumer calls to ask about loan terms and an employee explains the creditor's basic loan terms, such as interest rates, loan-to-value ratio, and debt-to-income ratio. ii. A consumer calls to ask about interest rates for car loans, and, in order to quote the appropriate rate, the loan officer asks for the make and sales price of the car and the amount of the downpayment, then gives the consumer the rate. iii. A consumer asks about terms for a loan to purchase a home and tells the loan officer her income and intended downpayment, but the loan officer only explains the creditor's loan-to-value ratio policy and other basic lending policies, without telling the consumer whether she qualifies for the loan. iv. A consumer calls to ask about terms for a loan to purchase vacant land and states his income and the sales price of the property to be financed, and asks whether he qualifies for a loan; the employee responds by describing the general lending policies, explaining that he would need to look at all of the consumer's qualifications before making a decision, and offering to send an application form to the consumer. 5. Examples of an application. An application for credit includes the following situations: i. A person asks a financial institution to ``preapprove'' her for a loan (for example, to finance a house or a vehicle she plans to buy) and the institution reviews the request under a program in which the institution, after a comprehensive analysis of her creditworthiness, issues a written commitment valid for a designated period of time to extend a loan up to a specified amount. The written commitment may not be subject to conditions other than conditions that require the identification of adequate collateral, conditions that require no material change in the applicant's financial condition or creditworthiness prior to funding the loan, and limited conditions that are not related to the financial condition or creditworthiness of the applicant that the lender ordinarily attaches to a traditional application (such as certification of a clear termite inspection for a home purchase loan, or a maximum mileage requirement for a used car loan). But if the creditor's program does not provide for giving written commitments, requests for preapprovals are treated as prequalification requests for purposes of the regulation. ii. Under the same facts as above, the financial institution evaluates the person's [[Page 56]] creditworthiness and determines that she does not qualify for a preapproval. 6. Completed application--diligence requirement. The regulation defines a completed application in terms that give a creditor the latitude to establish its own information requirements. Nevertheless, the creditor must act with reasonable diligence to collect information needed to complete the application. For example, the creditor should request information from third parties, such as a credit report, promptly after receiving the application. If additional information is needed from the applicant, such as an address or a telephone number to verify employment, the creditor should contact the applicant promptly. (But see comment 9(a)(1)-3, which discusses the creditor's option to deny an application on the basis of incompleteness.) 2(g) Business credit. 1. Definition. The test for deciding whether a transaction qualifies as business credit is one of primary purpose. For example, an open-end credit account used for both personal and business purposes is not business credit unless the primary purpose of the account is business- related. A creditor may rely on an applicant's statement of the purpose for the credit requested. 2(j) Credit. 1. General. Regulation B covers a wider range of credit transactions than Regulation Z (Truth in Lending). Under Regulation B, a transaction is credit if there is a right to defer payment of a debt--regardless of whether the credit is for personal or commercial purposes, the number of installments required for repayment, or whether the transaction is subject to a finance charge. 2(l) Creditor. 1. Assignees. The term creditor includes all persons participating in the credit decision. This may include an assignee or a potential purchaser of the obligation who influences the credit decision by indicating whether or not it will purchase the obligation if the transaction is consummated. 2. Referrals to creditors. For certain purposes, the term creditor includes persons such as real estate brokers, automobile dealers, home builders, and home-improvement contractors who do not participate in credit decisions but who only accept applications and refer applicants to creditors, or select or offer to select creditors to whom credit requests can be made. These persons must comply with Sec. 202.4(a), the general rule prohibiting discrimination, and with Sec. 202.4(b), the general rule against discouraging applications. 2(p) Empirically derived and other credit scoring systems. 1. Purpose of definition. The definition under Sec. 202.2(p)(1)(i) through (iv) sets the criteria that a credit system must meet in order to use age as a predictive factor. Credit systems that do not meet these criteria are judgmental systems and may consider age only for the purpose of determining a ``pertinent element of creditworthiness.'' (Both types of systems may favor an elderly applicant. See Sec. 202.6(b)(2).) 2. Periodic revalidation. The regulation does not specify how often credit scoring systems must be revalidated. The credit scoring system must be revalidated frequently enough to ensure that it continues to meet recognized professional statistical standards for statistical soundness. To ensure that predictive ability is being maintained, the creditor must periodically review the performance of the system. This could be done, for example, by analyzing the loan portfolio to determine the delinquency rate for each score interval, or by analyzing population stability over time to detect deviations of recent applications from the applicant population used to validate the system. If this analysis indicates that the system no longer predicts risk with statistical soundness, the system must be adjusted as necessary to reestablish its predictive ability. A creditor is responsible for ensuring its system is validated and revalidated based on the creditor's own data. 3. Pooled data scoring systems. A scoring system or the data from which to develop such a system may be obtained from either a single credit grantor or multiple credit grantors. The resulting system will qualify as an empirically derived, demonstrably and statistically sound, credit scoring system provided the criteria set forth in paragraph (p)(1)(i) through (iv) of this section are met. A creditor is responsible for ensuring its system is validated and revalidated based on the creditor's own data when it becomes available. 4. Effects test and disparate treatment. An empirically derived, demonstrably and statistically sound, credit scoring system may include age as a predictive factor (provided that the age of an elderly applicant is not assigned a negative factor or value). Besides age, no other prohibited basis may be used as a variable. Generally, credit scoring systems treat all applicants objectively and thus avoid problems of disparate treatment. In cases where a credit scoring system is used in conjunction with individual discretion, disparate treatment could conceivably occur in the evaluation process. In addition, neutral factors used in credit scoring systems could nonetheless be subject to challenge under the effects test. (See comment 6(a)-2 for a discussion of the effects test). 2(w) Open-end credit. 1. Open-end real estate mortgages. The term ``open-end credit'' does not include negotiated advances under an open-end real estate mortgage or a letter of credit. 2(z) Prohibited basis. [[Page 57]] 1. Persons associated with applicant. As used in this regulation, prohibited basis refers not only to characteristics--the race, color, religion, national origin, sex, marital status, or age--of an applicant (or officers of an applicant in the case of a corporation) but also to the characteristics of individuals with whom an applicant is affiliated or with whom the applicant associates. This means, for example, that under the general rule stated in Sec. 202.4(a), a creditor may not discriminate against an applicant because of that person's personal or business dealings with members of a certain religion, because of the national origin of any persons associated with the extension of credit (such as the tenants in the apartment complex being financed), or because of the race of other residents in the neighborhood where the property offered as collateral is located. 2. National origin. A creditor may not refuse to grant credit because an applicant comes from a particular country but may take the applicant's immigration status into account. A creditor may also take into account any applicable law, regulation, or executive order restricting dealings with citizens (or the government) of a particular country or imposing limitations regarding credit extended for their use. 3. Public assistance program. Any federal, state, or local governmental assistance program that provides a continuing, periodic income supplement, whether premised on entitlement or need, is ``public assistance'' for purposes of the regulation. The term includes (but is not limited to) Temporary Aid to Needy Families, food stamps, rent and mortgage supplement or assistance programs, social security and supplemental security income, and unemployment compensation. Only physicians, hospitals, and others to whom the benefits are payable need consider Medicare and Medicaid as public assistance. Section 202.3--Limited Exceptions for Certain Classes of Transactions 1. Scope. Under this section, procedural requirements of the regulation do not apply to certain types of credit. All classes of transactions remain subject to Sec. 202.4(a), the general rule barring discrimination on a prohibited basis, and to any other provision not specifically excepted. 3(a) Public-utilities credit. 1. Definition. This definition applies only to credit for the purchase of a utility service, such as electricity, gas, or telephone service. Credit provided or offered by a public utility for some other purpose--such as for financing the purchase of a gas dryer, telephone equipment, or other durable goods, or for insulation or other home improvements--is not excepted. 2. Security deposits. A utility company is a creditor when it supplies utility service and bills the user after the service has been provided. Thus, any credit term (such as a requirement for a security deposit) is subject to the regulation's bar against discrimination on a prohibited basis. 3. Telephone companies. A telephone company's credit transactions qualify for the exceptions provided in Sec. 202.3(a)(2) only if the company is regulated by a government unit or files the charges for service, delayed payment, or any discount for prompt payment with a government unit. 3(c) Incidental credit. 1. Examples. If a service provider (such as a hospital, doctor, lawyer, or merchant) allows the client or customer to defer the payment of a bill, this deferral of debt is credit for purposes of the regulation, even though there is no finance charge and no agreement for payment in installments. Because of the exceptions provided by this section, however, these particular credit extensions are excepted from compliance with certain procedural requirements as specified in Sec. 202.3(c). 3(d) Government credit. 1. Credit to governments. The exception relates to credit extended to (not by) governmental entities. For example, credit extended to a local government is covered by this exception, but credit extended to consumers by a federal or state housing agency does not qualify for special treatment under this category. Section 202.4--General Rules Paragraph 4(a) 1. Scope of rule. The general rule stated in Sec. 202.4(a) covers all dealings, without exception, between an applicant and a creditor, whether or not addressed by other provisions of the regulation. Other provisions of the regulation identify specific practices that the Board has decided are impermissible because they could result in credit discrimination on a basis prohibited by the Act. The general rule covers, for example, application procedures, criteria used to evaluate creditworthiness, administration of accounts, and treatment of delinquent or slow accounts. Thus, whether or not specifically prohibited elsewhere in the regulation, a credit practice that treats applicants differently on a prohibited basis violates the law because it violates the general rule. Disparate treatment on a prohibited basis is illegal whether or not it results from a conscious intent to discriminate. 2. Examples. i. Disparate treatment would exist, for example, in the following situations: A. A creditor provides information only on ``subprime'' and similar products to minority applicants who request information about the creditor's mortgage products, but provides information on a wider variety of [[Page 58]] mortgage products to similarly situated nonminority applicants. B. A creditor provides more comprehensive information to men than to similarly situated women. C. A creditor requires a minority applicant to provide greater documentation to obtain a loan than a similarly situated nonminority applicant. D. A creditor waives or relaxes credit standards for a nonminority applicant but not for a similarly situated minority applicant. ii. Treating applicants differently on a prohibited basis is unlawful if the creditor lacks a legitimate nondiscriminatory reason for its action, or if the asserted reason is found to be a pretext for discrimination. Paragraph 4(b) 1. Prospective applicants. Generally, the regulation's protections apply only to persons who have requested or received an extension of credit. In keeping with the purpose of the Act--to promote the availability of credit on a nondiscriminatory basis--Sec. 202.4(b) covers acts or practices directed at prospective applicants that could discourage a reasonable person, on a prohibited basis, from applying for credit. Practices prohibited by this section include: i. A statement that the applicant should not bother to apply, after the applicant states that he is retired. ii. The use of words, symbols, models or other forms of communication in advertising that express, imply, or suggest a discriminatory preference or a policy of exclusion in violation of the Act. iii. The use of interview scripts that discourage applications on a prohibited basis. 2. Affirmative advertising. A creditor may affirmatively solicit or encourage members of traditionally disadvantaged groups to apply for credit, especially groups that might not normally seek credit from that creditor. Paragraph 4(c) 1. Requirement for written applications. Model application forms are provided in Appendix B to the regulation, although use of a printed form is not required. A creditor will satisfy the requirement by writing down the information that it normally considers in making a credit decision. The creditor may complete an application on behalf of an applicant and need not require the applicant to sign the application. 2. Telephone applications. A creditor that accepts applications by telephone for dwelling-related credit covered by Sec. 202.13 can meet the requirement for written applications by writing down pertinent information that is provided by the applicant. 3. Computerized entry. Information entered directly into and retained by a computerized system qualifies as a written application under this paragraph. (See the commentary to Sec. 202.13(b), Applications through electronic media and Applications through video.) Paragraph 4(d) 1. Clear and conspicuous. This standard requires that disclosures be presented in a reasonably understandable format in a way that does not obscure the required information. No minimum type size is mandated, but the disclosures must be legible, whether typewritten, handwritten, or printed by computer. 2. Form of disclosures. Whether the disclosures required to be on or with an application must be in electronic form depends upon the following: i. If an applicant accesses a credit application electronically (other than as described under ii below), such as online at a home computer, the creditor must provide the disclosures in electronic form (such as with the application form on its website) in order to meet the requirement to provide disclosures in a timely manner on or with the application. If the creditor instead mailed paper disclosures to the applicant, this requirement would not be met. ii. In contrast, if an applicant is physically present in the creditor's office, and accesses a credit application electronically, such as via a terminal or kiosk (or if the applicant uses a terminal or kiosk located on the premises of an affiliate or third party that has arranged with the creditor to provide applications to consumers), the creditor may provide disclosures in either electronic or paper form, provided the creditor complies with the timing, delivery, and retainability requirements of the regulation. Section 202.5--Rules Concerning Requests for Information 5(a) General rules. Paragraph 5(a)(1) 1. Requests for information. This section governs the types of information that a creditor may gather. Section 202.6 governs how information may be used. Paragraph 5(a)(2) 1. Local laws. Information that a creditor is allowed to collect pursuant to a ``state'' statute or regulation includes information required by a local statute, regulation, or ordinance. 2. Information required by Regulation C. Regulation C generally requires creditors covered by the Home Mortgage Disclosure Act (HMDA) to collect and report information about the race, ethnicity, and sex of applicants for home-improvement loans and home-purchase loans, including some types of loans not covered by Sec. 202.13. [[Page 59]] 3. Collecting information on behalf of creditors. Persons such as loan brokers and correspondents do not violate the ECOA or Regulation B if they collect information that they are otherwise prohibited from collecting, where the purpose of collecting the information is to provide it to a creditor that is subject to the Home Mortgage Disclosure Act or another federal or state statute or regulation requiring data collection. 5(d) Other limitations on information requests. Paragraph 5(d)(1) 1. Indirect disclosure of prohibited information. The fact that certain credit-related information may indirectly disclose marital status does not bar a creditor from seeking such information. For example, the creditor may ask about: i. The applicant's obligation to pay alimony, child support, or separate maintenance income. ii. The source of income to be used as the basis for repaying the credit requested, which could disclose that it is the income of a spouse. iii. Whether any obligation disclosed by the applicant has a co- obligor, which could disclose that the co-obligor is a spouse or former spouse. iv. The ownership of assets, which could disclose the interest of a spouse. Paragraph 5(d)(2) 1. Disclosure about income. The sample application forms in appendix B to the regulation illustrate how a creditor may inform an applicant of the right not to disclose alimony, child support, or separate maintenance income. 2. General inquiry about source of income. Since a general inquiry about the source of income may lead an applicant to disclose alimony, child support, or separate maintenance income, a creditor making such an inquiry on an application form should preface the request with the disclosure required by this paragraph. 3. Specific inquiry about sources of income. A creditor need not give the disclosure if the inquiry about income is specific and worded in a way that is unlikely to lead the applicant to disclose the fact that income is derived from alimony, child support, or separate maintenance payments. For example, an application form that asks about specific types of income such as salary, wages, or investment income need not include the disclosure. Section 202.6--Rules Concerning Evaluation of Applications 6(a) General rule concerning use of information. 1. General. When evaluating an application for credit, a creditor generally may consider any information obtained. However, a creditor may not consider in its evaluation of creditworthiness any information that it is barred by Sec. 202.5 from obtaining or from using for any purpose other than to conduct a self-test under Sec. 202.15. 2. Effects test. The effects test is a judicial doctrine that was developed in a series of employment cases decided by the U.S. Supreme Court under title VII of the Civil Rights Act of 1964 (42 U.S.C. 2000e et seq.), and the burdens of proof for such employment cases were codified by Congress in the Civil Rights Act of 1991 (42 U.S.C. 2000e- 2). Congressional intent that this doctrine apply to the credit area is documented in the Senate Report that accompanied H.R. 6516, No. 94-589, pp. 4-5; and in the House Report that accompanied H.R. 6516, No. 94-210, p.5. The Act and regulation may prohibit a creditor practice that is discriminatory in effect because it has a disproportionately negative impact on a prohibited basis, even though the creditor has no intent to discriminate and the practice appears neutral on its face, unless the creditor practice meets a legitimate business need that cannot reasonably be achieved as well by means that are less disparate in their impact. For example, requiring that applicants have income in excess of a certain amount to qualify for an overdraft line of credit could mean that women and minority applicants will be rejected at a higher rate than men and nonminority applicants. If there is a demonstrable relationship between the income requirement and creditworthiness for the level of credit involved, however, use of the income standard would likely be permissible. 6(b) Specific rules concerning use of information. Paragraph 6(b)(1) 1. Prohibited basis--special purpose credit. In a special purpose credit program, a creditor may consider a prohibited basis to determine whether the applicant possesses a characteristic needed for eligibility. (See Sec. 202.8.) Paragraph 6(b)(2) 1. Favoring the elderly. Any system of evaluating creditworthiness may favor a credit applicant who is age 62 or older. A credit program that offers more favorable credit terms to applicants age 62 or older is also permissible; a program that offers more favorable credit terms to applicants at an age lower than 62 is permissible only if it meets the special-purpose credit requirements of Sec. 202.8. 2. Consideration of age in a credit scoring system. Age may be taken directly into account in a credit scoring system that is ``demonstrably and statistically sound,'' as defined in Sec. 202.2(p), with one limitation: applicants age 62 years or older must be treated at least as favorably as applicants who are under age [[Page 60]] 62. If age is scored by assigning points to an applicant's age category, elderly applicants must receive the same or a greater number of points as the most favored class of nonelderly applicants. i. Age-split scorecards. Some credit systems segment the population and use different scorecards based on the age of an applicant. In such a system, one card may cover a narrow age range (for example, applicants in their twenties or younger) who are evaluated under attributes predictive for that age group. A second card may cover all other applicants, who are evaluated under the attributes predictive for that broader class. When a system uses a card covering a wide age range that encompasses elderly applicants, the credit scoring system is not deemed to score age. Thus, the system does not raise the issue of assigning a negative factor or value to the age of elderly applicants. But if a system segments the population by age into multiple scorecards, and includes elderly applicants in a narrower age range, the credit scoring system does score age. To comply with the Act and regulation in such a case, the creditor must ensure that the system does not assign a negative factor or value to the age of elderly applicants as a class. 3. Consideration of age in a judgmental system. In a judgmental system, defined in Sec. 202.2(t), a creditor may not decide whether to extend credit or set the terms and conditions of credit based on age or information related exclusively to age. Age or age-related information may be considered only in evaluating other ``pertinent elements of creditworthiness'' that are drawn from the particular facts and circumstances concerning the applicant. For example, a creditor may not reject an application or terminate an account because the applicant is 60 years old. But a creditor that uses a judgmental system may relate the applicant's age to other information about the applicant that the creditor considers in evaluating creditworthiness. As the following examples illustrate, the evaluation must be made in an individualized, case-by-case manner: i. A creditor may consider the applicant's occupation and length of time to retirement to ascertain whether the applicant's income (including retirement income) will support the extension of credit to its maturity. ii. A creditor may consider the adequacy of any security offered when the term of the credit extension exceeds the life expectancy of the applicant and the cost of realizing on the collateral could exceed the applicant's equity. An elderly applicant might not qualify for a 5 percent down, 30-year mortgage loan but might qualify with a larger downpayment or a shorter loan maturity. iii. A creditor may consider the applicant's age to assess the significance of length of employment (a young applicant may have just entered the job market) or length of time at an address (an elderly applicant may recently have retired and moved from a long-term residence). 4. Consideration of age in a reverse mortgage. A reverse mortgage is a home-secured loan in which the borrower receives payments from the creditor, and does not become obligated to repay these amounts (other than in the case of default) until the borrower dies, moves permanently from the home, or transfers title to the home, or upon a specified maturity date. Disbursements to the borrower under a reverse mortgage typically are determined by considering the value of the borrower's home, the current interest rate, and the borrower's life expectancy. A reverse mortgage program that requires borrowers to be age 62 or older is permissible under Sec. 202.6(b)(2)(iv). In addition, under Sec. 202.6(b)(2)(iii), a creditor may consider a borrower's age to evaluate a pertinent element of creditworthiness, such as the amount of the credit or monthly payments that the borrower will receive, or the estimated repayment date. 5. Consideration of age in a combined system. A creditor using a credit scoring system that qualifies as ``empirically derived'' under Sec. 202.2(p) may consider other factors (such as a credit report or the applicant's cash flow) on a judgmental basis. Doing so will not negate the classification of the credit scoring component of the combined system as ``demonstrably and statistically sound.'' While age could be used in the credit scoring portion, however, in the judgmental portion age may not be considered directly. It may be used only for the purpose of determining a ``pertinent element of creditworthiness.'' (See comment 6(b)(2)-3.) 6. Consideration of public assistance. When considering income derived from a public assistance program, a creditor may take into account, for example: i. The length of time an applicant will likely remain eligible to receive such income. ii. Whether the applicant will continue to qualify for benefits based on the status of the applicant's dependents (as in the case of Temporary Aid to Needy Families, or social security payments to a minor). iii. Whether the creditor can attach or garnish the income to assure payment of the debt in the event of default. Paragraph 6(b)(5) 1. Consideration of an individual applicant. A creditor must evaluate income derived from part-time employment, alimony, child support, separate maintenance payments, retirement benefits, or public assistance on an [[Page 61]] individual basis, not on the basis of aggregate statistics; and must assess its reliability or unreliability by analyzing the applicant's actual circumstances, not by analyzing statistical measures derived from a group. 2. Payments consistently made. In determining the likelihood of consistent payments of alimony, child support, or separate maintenance, a creditor may consider factors such as whether payments are received pursuant to a written agreement or court decree; the length of time that the payments have been received; whether the payments are regularly received by the applicant; the availability of court or other procedures to compel payment; and the creditworthiness of the payor, including the credit history of the payor when it is available to the creditor. 3. Consideration of income. i. A creditor need not consider income at all in evaluating creditworthiness. If a creditor does consider income, there are several acceptable methods, whether in a credit scoring or a judgmental system: A. A creditor may score or take into account the total sum of all income stated by the applicant without taking steps to evaluate the income for reliability. B. A creditor may evaluate each component of the applicant's income, and then score or take into account income determined to be reliable separately from other income; or the creditor may disregard that portion of income that is not reliable when it aggregates reliable income. C. A creditor that does not evaluate all income components for reliability must treat as reliable any component of protected income that is not evaluated. ii. In considering the separate components of an applicant's income, the creditor may not automatically discount or exclude from consideration any protected income. Any discounting or exclusion must be based on the applicant's actual circumstances. 4. Part-time employment, sources of income. A creditor may score or take into account the fact that an applicant has more than one source of earned income--a full-time and a part-time job or two part-time jobs. A creditor may also score or treat earned income from a secondary source differently than earned income from a primary source. The creditor may not, however, score or otherwise take into account the number of sources for income such as retirement income, social security, supplemental security income, and alimony. Nor may the creditor treat negatively the fact that an applicant's only earned income is derived from, for example, a part-time job. Paragraph 6(b)(6) 1. Types of credit references. A creditor may restrict the types of credit history and credit references that it will consider, provided that the restrictions are applied to all credit applicants without regard to sex, marital status, or any other prohibited basis. On the applicant's request, however, a creditor must consider credit information not reported through a credit bureau when the information relates to the same types of credit references and history that the creditor would consider if reported through a credit bureau. Paragraph 6(b)(7) 1. National origin--immigration status. The applicant's immigration status and ties to the community (such as employment and continued residence in the area) could have a bearing on a creditor's ability to obtain repayment. Accordingly, the creditor may consider immigration status and differentiate, for example, between a noncitizen who is a long-time resident with permanent resident status and a noncitizen who is temporarily in this country on a student visa. 2. National origin--citizenship. A denial of credit on the ground that an applicant is not a United States citizen is not per se discrimination based on national origin. Paragraph 6(b)(8) 1. Prohibited basis--marital status. A creditor may consider the marital status of an applicant or joint applicant for the purpose of ascertaining the creditor's rights and remedies applicable to the particular extension of credit. For example, in a secured transaction involving real property, a creditor could take into account whether state law gives the applicant's spouse an interest in the property being offered as collateral. Section 202.7--Rules Concerning Extensions of Credit 7(a) Individual accounts. 1. Open-end credit--authorized user. A creditor may not require a creditworthy applicant seeking an individual credit account to provide additional signatures. But the creditor may condition the designation of an authorized user by the account holder on the authorized user's becoming contractually liable for the account, as long as the creditor does not differentiate on any prohibited basis in imposing this requirement. 2. Open-end credit--choice of authorized user. A creditor that permits an account holder to designate an authorized user may not restrict this designation on a prohibited basis. For example, if the creditor allows the designation of spouses as authorized users, the creditor may not refuse to accept a nonspouse as an authorized user. 3. Overdraft authority on transaction accounts. If a transaction account (such as a checking account or NOW account) includes an overdraft line of credit, the creditor may require that all persons authorized to draw [[Page 62]] on the transaction account assume liability for any overdraft. 7(b) Designation of name. 1. Single name on account. A creditor may require that joint applicants on an account designate a single name for purposes of administering the account and that a single name be embossed on any credit cards issued on the account. But the creditor may not require that the name be the husband's name. (See Sec. 202.10 for rules governing the furnishing of credit history on accounts held by spouses.) 7(c) Action concerning existing open-end accounts. Paragraph 7(c)(1) 1. Termination coincidental with marital status change. When an account holder's marital status changes, a creditor generally may not terminate the account unless it has evidence that the account holder is now unable or unwilling to repay. But the creditor may terminate an account on which both spouses are jointly liable, even if the action coincides with a change in marital status, when one or both spouses: i. Repudiate responsibility for future charges on the joint account. ii. Request separate accounts in their own names. iii. Request that the joint account be closed. 2. Updating information. A creditor may periodically request updated information from applicants but may not use events related to a prohibited basis--such as an applicant's retirement or reaching a particular age, or a change in name or marital status--to trigger such a request. Paragraph 7(c)(2) 1. Procedure pending reapplication. A creditor may require a reapplication from an account holder, even when there is no evidence of unwillingness or inability to repay, if (1) the credit was based on the qualifications of a person who is no longer available to support the credit and (2) the creditor has information indicating that the account holder's income may be insufficient to support the credit. While a reapplication is pending, the creditor must allow the account holder full access to the account under the existing contract terms. The creditor may specify a reasonable time period within which the account holder must submit the required information. 7(d) Signature of spouse or other person. 1. Qualified applicant. The signature rules ensure that qualified applicants are able to obtain credit in their own names. Thus, when an applicant requests individual credit, a creditor generally may not require the signature of another person unless the creditor has first determined that the applicant alone does not qualify for the credit requested. 2. Unqualified applicant. When an applicant requests individual credit but does not meet a creditor's standards, the creditor may require a cosigner, guarantor, endorser, or similar partie--but cannot require that it be the spouse. (See commentary to Sec. 202.7(d)(5) and (6).) Paragraph 7(d)(1) 1. Signature of another person. It is impermissible for a creditor to require an applicant who is individually creditworthy to provide a cosigner--even if the creditor applies the requirement without regard to sex, marital status, or any other prohibited basis. (But see comment 7(d)(6)-1 concerning guarantors of closely held corporations.) 2. Joint applicant. The term ``joint applicant'' refers to someone who applies contemporaneously with the applicant for shared or joint credit. It does not refer to someone whose signature is required by the creditor as a condition for granting the credit requested. 3. Evidence of joint application. A person's intent to be a joint applicant must be evidenced at the time of application. Signatures on a promissory note may not be used to show intent to apply for joint credit. On the other hand, signatures or initials on a credit application affirming applicants' intent to apply for joint credit may be used to establish intent to apply for joint credit. (See Appendix B). The method used to establish intent must be distinct from the means used by individuals to affirm the accuracy of information. For example, signatures on a joint financial statement affirming the veracity of information are not sufficient to establish intent to apply for joint credit. Paragraph 7(d)(2) 1. Jointly owned property. If an applicant requests unsecured credit, does not own sufficient separate property, and relies on joint property to establish creditworthiness, the creditor must value the applicant's interest in the jointly owned property. A creditor may not request that a nonapplicant joint owner sign any instrument as a condition of the credit extension unless the applicant's interest does not support the amount and terms of the credit sought. i. Valuation of applicant's interest. In determining the value of an applicant's interest in jointly owned property, a creditor may consider factors such as the form of ownership and the property's susceptibility to attachment, execution, severance, or partition; the value of the applicant's interest after such action; and the cost associated with the action. This determination must be based on the existing form of ownership, and not on the possibility of a subsequent change. For [[Page 63]] example, in determining whether a married applicant's interest in jointly owned property is sufficient to satisfy the creditor's standards of creditworthiness for individual credit, a creditor may not consider that the applicant's separate property could be transferred into tenancy by the entirety after consummation. Similarly, a creditor may not consider the possibility that the couple may divorce. Accordingly, a creditor may not require the signature of the nonapplicant spouse in these or similar circumstances. ii. Other options to support credit. If the applicant's interest in jointly owned property does not support the amount and terms of credit sought, the creditor may offer the applicant other options to qualify for the extension of credit. For example: A. Providing a co-signer or other party (Sec. 202.7(d)(5)); B. Requesting that the credit be granted on a secured basis (Sec. 202.7(d)(4)); or C. Providing the signature of the joint owner on an instrument that ensures access to the property in the event of the applicant's death or default, but does not impose personal liability unless necessary under state law (such as a limited guarantee). A creditor may not routinely require, however, that a joint owner sign an instrument (such as a quitclaim deed) that would result in the forfeiture of the joint owner's interest in the property. 2. Need for signature--reasonable belief. A creditor's reasonable belief as to what instruments need to be signed by a person other than the applicant should be supported by a thorough review of pertinent statutory and decisional law or an opinion of the state attorney general. Paragraph 7(d)(3) 1. Residency. In assessing the creditworthiness of a person who applies for credit in a community property state, a creditor may assume that the applicant is a resident of the state unless the applicant indicates otherwise. Paragraph 7(d)(4) 1. Creation of enforceable lien. Some state laws require that both spouses join in executing any instrument by which real property is encumbered. If an applicant offers such property as security for credit, a creditor may require the applicant's spouse to sign the instruments necessary to create a valid security interest in the property. The creditor may not require the spouse to sign the note evidencing the credit obligation if signing only the mortgage or other security agreement is sufficient to make the property available to satisfy the debt in the event of default. However, if under state law both spouses must sign the note to create an enforceable lien, the creditor may require the signatures. 2. Need for signature--reasonable belief. Generally, a signature to make the secured property available will only be needed on a security agreement. A creditor's reasonable belief that, to ensure access to the property, the spouse's signature is needed on an instrument that imposes personal liability should be supported by a thorough review of pertinent statutory and decisional law or an opinion of the state attorney general. 3. Integrated instruments. When a creditor uses an integrated instrument that combines the note and the security agreement, the spouse cannot be asked to sign the integrated instrument if the signature is only needed to grant a security interest. But the spouse could be asked to sign an integrated instrument that makes clear--for example, by a legend placed next to the spouse's signature--that the spouse's signature is only to grant a security interest and that signing the instrument does not impose personal liability. Paragraph 7(d)(5) 1. Qualifications of additional parties. In establishing guidelines for eligibility of guarantors, cosigners, or similar additional parties, a creditor may restrict the applicant's choice of additional parties but may not discriminate on the basis of sex, marital status, or any other prohibited basis. For example, the creditor could require that the additional party live in the creditor's market area. 2. Reliance on income of another person--individual credit. An applicant who requests individual credit relying on the income of another person (including a spouse in a non-community property state) may be required to provide the signature of the other person to make the income available to pay the debt. In community property states, the signature of a spouse may be required if the applicant relies on the spouse's separate income. If the applicant relies on the spouse's future earnings that as a matter of state law cannot be characterized as community property until earned, the creditor may require the spouse's signature, but need not do so--even if it is the creditor's practice to require the signature when an applicant relies on the future earnings of a person other than a spouse. (See Sec. 202.6(c) on consideration of state property laws.) 3. Renewals. If the borrower's creditworthiness is reevaluated when a credit obligation is renewed, the creditor must determine whether an additional party is still warranted and, if not warranted, release the additional party. [[Page 64]] Paragraph 7(d)(6) 1. Guarantees. A guarantee on an extension of credit is part of a credit transaction and therefore subject to the regulation. A creditor may require the personal guarantee of the partners, directors, or officers of a business, and the shareholders of a closely held corporation, even if the business or corporation is creditworthy. The requirement must be based on the guarantor's relationship with the business or corporation, however, and not on a prohibited basis. For example, a creditor may not require guarantees only for women-owned or minority-owned businesses. Similarly, a creditor may not require guarantees only of the married officers of a business or the married shareholders of a closely held corporation. 2. Spousal guarantees. The rules in Sec. 202.7(d) bar a creditor from requiring the signature of a guarantor's spouse just as they bar the creditor from requiring the signature of an applicant's spouse. For example, although a creditor may require all officers of a closely held corporation to personally guarantee a corporate loan, the creditor may not automatically require that spouses of married officers also sign the guarantee. If an evaluation of the financial circumstances of an officer indicates that an additional signature is necessary, however, the creditor may require the signature of another person in appropriate circumstances in accordance with Sec. 202.7(d)(2). 7(e) Insurance. 1. Differences in terms. Differences in the availability, rates, and other terms on which credit-related casualty insurance or credit life, health, accident, or disability insurance is offered or provided to an applicant does not violate Regulation B. 2. Insurance information. A creditor may obtain information about an applicant's age, sex, or marital status for insurance purposes. The information may only be used for determining eligibility and premium rates for insurance, however, and not in making the credit decision. Section 202.8--Special Purpose Credit Programs 8(a) Standards for programs. 1. Determining qualified programs. The Board does not determine whether individual programs qualify for special purpose credit status, or whether a particular program benefits an ``economically disadvantaged class of persons.'' The agency or creditor administering or offering the loan program must make these decisions regarding the status of its program. 2. Compliance with a program authorized by federal or state law. A creditor does not violate Regulation B when it complies in good faith with a regulation promulgated by a government agency implementing a special purpose credit program under Sec. 202.8(a)(1). It is the agency's responsibility to promulgate a regulation that is consistent with federal and state law. 3. Expressly authorized. Credit programs authorized by federal or state law include programs offered pursuant to federal, state, or local statute, regulation or ordinance, or pursuant to judicial or administrative order. 4. Creditor liability. A refusal to grant credit to an applicant is not a violation of the Act or regulation if the applicant does not meet the eligibility requirements under a special purpose credit program. 5. Determining need. In designing a special purpose credit program under Sec. 202.8(a), a for-profit organization must determine that the program will benefit a class of people who would otherwise be denied credit or would receive it on less favorable terms. This determination can be based on a broad analysis using the organization's own research or data from outside sources, including governmental reports and studies. For example, a creditor might design new products to reach consumers who would not meet, or have not met, its traditional standards of creditworthiness due to such factors as credit inexperience or the use of credit sources that may not report to consumer reporting agencies. Or, a bank could review Home Mortgage Disclosure Act data along with demographic data for its assessment area and conclude that there is a need for a special purpose credit program for low-income minority borrowers. 6. Elements of the program. The written plan must contain information that supports the need for the particular program. The plan also must either state a specific period of time for which the program will last, or contain a statement regarding when the program will be reevaluated to determine if there is a continuing need for it. 8(b) Rules in other sections. 1. Applicability of rules. A creditor that rejects an application because the applicant does not meet the eligibility requirements (common characteristic or financial need, for example) must nevertheless notify the applicant of action taken as required by Sec. 202.9. 8(c) Special rule concerning requests and use of information. 1. Request of prohibited basis information. This section permits a creditor to request and consider certain information that would otherwise be prohibited by Sec. Sec. 202.5 and 202.6 to determine an applicant's eligibility for a particular program. 2. Examples. Examples of programs under which the creditor can ask for and consider information about a prohibited basis are: i. Energy conservation programs to assist the elderly, for which the creditor must consider the applicant's age. [[Page 65]] ii. Programs under a Minority Enterprise Small Business Investment Corporation, for which a creditor must consider the applicant's minority status. 8(d) Special rule in the case of financial need. 1. Request of prohibited basis information. This section permits a creditor to request and consider certain information that would otherwise be prohibited by Sec. Sec. 202.5 and 202.6, and to require signatures that would otherwise be prohibited by Sec. 202.7(d). 2. Examples. Examples of programs in which financial need is a criterion are: i. Subsidized housing programs for low- to moderate-income households, for which a creditor may have to consider the applicant's receipt of alimony or child support, the spouse's or parents' income, etc. ii. Student loan programs based on the family's financial need, for which a creditor may have to consider the spouse's or parents' financial resources. 3. Student loans. In a guaranteed student loan program, a creditor may obtain the signature of a parent as a guarantor when required by federal or state law or agency regulation, or when the student does not meet the creditor's standards of creditworthiness. (See Sec. 202.7(d)(1) and (5).) The creditor may not require an additional signature when a student has a work or credit history that satisfies the creditor's standards. Section 202.9--Notifications 1. Use of the term adverse action. The regulation does not require that a creditor use the term adverse action in communicating to an applicant that a request for an extension of credit has not been approved. In notifying an applicant of adverse action as defined by Sec. 202.2(c)(1), a creditor may use any words or phrases that describe the action taken on the application. 2. Expressly withdrawn applications. When an applicant expressly withdraws a credit application, the creditor is not required to comply with the notification requirements under Sec. 202.9. (The creditor must comply, however, with the record retention requirements of the regulation. See Sec. 202.12(b)(3).) 3. When notification occurs. Notification occurs when a creditor delivers or mails a notice to the applicant's last known address or, in the case of an oral notification, when the creditor communicates the credit decision to the applicant. 4. Location of notice. The notifications required under Sec. 202.9 may appear on either or both sides of a form or letter. 5. Prequalification requests. Whether a creditor must provide a notice of action taken for a prequalification request depends on the creditor's response to the request, as discussed in comment 2(f)-3. For instance, a creditor may treat the request as an inquiry if the creditor evaluates specific information about the consumer and tells the consumer the loan amount, rate, and other terms of credit the consumer could qualify for under various loan programs, explaining the process the consumer must follow to submit a mortgage application and the information the creditor will analyze in reaching a credit decision. On the other hand, a creditor has treated a request as an application, and is subject to the adverse action notice requirements of Sec. 202.9 if, after evaluating information, the creditor decides that it will not approve the request and communicates that decision to the consumer. For example, if the creditor tells the consumer that it would not approve an application for a mortgage because of a bankruptcy in the consumer's record, the creditor has denied an application for credit. 9(a) Notification of action taken, ECOA notice, and statement of specific reasons. Paragraph 9(a)(1) 1. Timing of notice--when an application is complete. Once a creditor has obtained all the information it normally considers in making a credit decision, the application is complete and the creditor has 30 days in which to notify the applicant of the credit decision. (See also comment 2(f)-6.) 2. Notification of approval. Notification of approval may be express or by implication. For example, the creditor will satisfy the notification requirement when it gives the applicant the credit card, money, property, or services requested. 3. Incomplete application--denial for incompleteness. When an application is incomplete regarding information that the applicant can provide and the creditor lacks sufficient data for a credit decision, the creditor may deny the application giving as the reason for denial that the application is incomplete. The creditor has the option, alternatively, of providing a notice of incompleteness under Sec. 202.9(c). 4. Incomplete application--denial for reasons other than incompleteness. When an application is missing information but provides sufficient data for a credit decision, the creditor may evaluate the application, make its credit decision, and notify the applicant accordingly. If credit is denied, the applicant must be given the specific reasons for the credit denial (or notice of the right to receive the reasons); in this instance missing information or ``incomplete application'' cannot be given as the reason for the denial. 5. Length of counteroffer. Section 202.9(a)(1)(iv) does not require a creditor to hold a counteroffer open for 90 days or any other particular length of time. 6. Counteroffer combined with adverse action notice. A creditor that gives the applicant a combined counteroffer and adverse action notice that complies with Sec. 202.9(a)(2) need not send a second adverse action notice if the applicant does not accept the [[Page 66]] counteroffer. A sample of a combined notice is contained in form C-4 of Appendix C to the regulation. 7. Denial of a telephone application. When an application is made by telephone and adverse action is taken, the creditor must request the applicant's name and address in order to provide written notification under this section. If the applicant declines to provide that information, then the creditor has no further notification responsibility. Paragraph 9(a)(3) 1. Coverage. In determining which rules in this paragraph apply to a given business credit application, a creditor may rely on the applicant's assertion about the revenue size of the business. (Applications to start a business are governed by the rules in Sec. 202.9(a)(3)(i).) If an applicant applies for credit as a sole proprietor, the revenues of the sole proprietorship will determine which rules govern the application. However, if an applicant applies for business credit as an individual, the rules in Sec. 202.9(a)(3)(i) apply unless the application is for trade or similar credit. 2. Trade credit. The term trade credit generally is limited to a financing arrangement that involves a buyer and a seller--such as a supplier who finances the sale of equipment, supplies, or inventory; it does not apply to an extension of credit by a bank or other financial institution for the financing of such items. 3. Factoring. Factoring refers to a purchase of accounts receivable, and thus is not subject to the Act or regulation. If there is a credit extension incident to the factoring arrangement, the notification rules in Sec. 202.9(a)(3)(ii) apply, as do other relevant sections of the Act and regulation. 4. Manner of compliance. In complying with the notice provisions of the Act and regulation, creditors offering business credit may follow the rules governing consumer credit. Similarly, creditors may elect to treat all business credit the same (irrespective of revenue size) by providing notice in accordance with Sec. 202.9(a)(3)(i). 5. Timing of notification. A creditor subject to Sec. 202.9(a)(3)(ii)(A) is required to notify a business credit applicant, orally or in writing, of action taken on an application within a reasonable time of receiving a completed application. Notice provided in accordance with the timing requirements of Sec. 202.9(a)(1) is deemed reasonable in all instances. 9(b) Form of ECOA notice and statement of specific reasons. Paragraph 9(b)(1) 1. Substantially similar notice. The ECOA notice sent with a notification of a credit denial or other adverse action will comply with the regulation if it is ``substantially similar'' to the notice contained in Sec. 202.9(b)(1). For example, a creditor may add a reference to the fact that the ECOA permits age to be considered in certain credit scoring systems, or add a reference to a similar state statute or regulation and to a state enforcement agency. Paragraph 9(b)(2) 1. Number of specific reasons. A creditor must disclose the principal reasons for denying an application or taking other adverse action. The regulation does not mandate that a specific number of reasons be disclosed, but disclosure of more than four reasons is not likely to be helpful to the applicant. 2. Source of specific reasons. The specific reasons disclosed under Sec. Sec. 202.9(a)(2) and (b)(2) must relate to and accurately describe the factors actually considered or scored by a creditor. 3. Description of reasons. A creditor need not describe how or why a factor adversely affected an applicant. For example, the notice may say ``length of residence'' rather than ``too short a period of residence.'' 4. Credit scoring system. If a creditor bases the denial or other adverse action on a credit scoring system, the reasons disclosed must relate only to those factors actually scored in the system. Moreover, no factor that was a principal reason for adverse action may be excluded from disclosure. The creditor must disclose the actual reasons for denial (for example, ``age of automobile'') even if the relationship of that factor to predicting creditworthiness may not be clear to the applicant. 5. Credit scoring--method for selecting reasons. The regulation does not require that any one method be used for selecting reasons for a credit denial or other adverse action that is based on a credit scoring system. Various methods will meet the requirements of the regulation. One method is to identify the factors for which the applicant's score fell furthest below the average score for each of those factors achieved by applicants whose total score was at or slightly above the minimum passing score. Another method is to identify the factors for which the applicant's score fell furthest below the average score for each of those factors achieved by all applicants. These average scores could be calculated during the development or use of the system. Any other method that produces results substantially similar to either of these methods is also acceptable under the regulation. 6. Judgmental system. If a creditor uses a judgmental system, the reasons for the denial or other adverse action must relate to those factors in the applicant's record actually reviewed by the person making the decision. [[Page 67]] 7. Combined credit scoring and judgmental system. If a creditor denies an application based on a credit evaluation system that employs both credit scoring and judgmental components, the reasons for the denial must come from the component of the system that the applicant failed. For example, if a creditor initially credit scores an application and denies the credit request as a result of that scoring, the reasons disclosed to the applicant must relate to the factors scored in the system. If the application passes the credit scoring stage but the creditor then denies the credit request based on a judgmental assessment of the applicant's record, the reasons disclosed must relate to the factors reviewed judgmentally, even if the factors were also considered in the credit scoring component. If the application is not approved or denied as a result of the credit scoring, but falls into a gray band, and the creditor performs a judgmental assessment and denies the credit after that assessment, the reasons disclosed must come from both components of the system. The same result applies where a judgmental assessment is the first component of the combined system. As provided in comment 9(b)(2)-1, disclosure of more than a combined total of four reasons is not likely to be helpful to the applicant. 8. Automatic denial. Some credit decision methods contain features that call for automatic denial because of one or more negative factors in the applicant's record (such as the applicant's previous bad credit history with that creditor, the applicant's declaration of bankruptcy, or the fact that the applicant is a minor). When a creditor denies the credit request because of an automatic-denial factor, the creditor must disclose that specific factor. 9. Combined ECOA-FCRA disclosures. The ECOA requires disclosure of the principal reasons for denying or taking other adverse action on an application for an extension of credit. The Fair Credit Reporting Act (FCRA) requires a creditor to disclose when it has based its decision in whole or in part on information from a source other than the applicant or its own files. Disclosing that a consumer report was obtained and used in the denial of the application, as the FCRA requires, does not satisfy the ECOA requirement to disclose specific reasons. For example, if the applicant's credit history reveals delinquent credit obligations and the application is denied for that reason, to satisfy Sec. 202.9(b)(2) the creditor must disclose that the application was denied because of the applicant's delinquent credit obligations. The FCRA also requires a creditor to disclose, as applicable, a credit score it used in taking adverse action along with related information, including up to four key factors that adversely affected the consumer's credit score (or up to five factors if the number of inquiries made with respect to that consumer report is a key factor). Disclosing the key factors that adversely affected the consumer's credit score does not satisfy the ECOA requirement to disclose specific reasons for denying or taking other adverse action on an application or extension of credit. Sample forms C- 1 through C-5 of appendix C of the regulation provide for both the ECOA and FCRA disclosures. See also comment 9(a)(2)-1. 9(c) Incomplete applications. Paragraph 9(c)(1) 1. Exception for preapprovals. The requirement to provide a notice of incompleteness does not apply to preapprovals that constitute applications under Sec. 202.2(f). Paragraph 9(c)(2) 1. Reapplication. If information requested by a creditor is submitted by an applicant after the expiration of the time period designated by the creditor, the creditor may require the applicant to make a new application. Paragraph 9(c)(3) 1. Oral inquiries for additional information. If an applicant fails to provide the information in response to an oral request, a creditor must send a written notice to the applicant within the 30-day period specified in Sec. 202.9(c)(1) and (2). If the applicant provides the information, the creditor must take action on the application and notify the applicant in accordance with Sec. 202.9(a). 9(g) Applications submitted through a third party. 1. Third parties. The notification of adverse action may be given by one of the creditors to whom an application was submitted, or by a noncreditor third party. If one notification is provided on behalf of multiple creditors, the notice must contain the name and address of each creditor. The notice must either disclose the applicant's right to a statement of specific reasons within 30 days, or give the primary reasons each creditor relied upon in taking the adverse action--clearly indicating which reasons relate to which creditor. 2. Third party notice--enforcement agency. If a single adverse action notice is being provided to an applicant on behalf of several creditors and they are under the jurisdiction of different federal enforcement agencies, the notice need not name each agency; disclosure of any one of them will suffice. 3. Third-party notice--liability. When a notice is to be provided through a third party, a creditor is not liable for an act or omission of the third party that constitutes a violation of the regulation if the creditor accurately and in a timely manner provided the third party with the information necessary [[Page 68]] for the notification and maintains reasonable procedures adapted to prevent such violations. Section 202.10--Furnishing of Credit Information 1. Scope. The requirements of Sec. 202.10 for designating and reporting credit information apply only to consumer credit transactions. Moreover, they apply only to creditors that opt to furnish credit information to credit bureaus or to other creditors; there is no requirement that a creditor furnish credit information on its accounts. 2. Reporting on all accounts. The requirements of Sec. 202.10 apply only to accounts held or used by spouses. However, a creditor has the option to designate all joint accounts (or all accounts with an authorized user) to reflect the participation of both parties, whether or not the accounts are held by persons married to each other. 3. Designating accounts. In designating accounts and reporting credit information, a creditor need not distinguish between accounts on which the spouse is an authorized user and accounts on which the spouse is a contractually liable party. 4. File and index systems. The regulation does not require the creation or maintenance of separate files in the name of each participant on a joint or user account, or require any other particular system of recordkeeping or indexing. It requires only that a creditor be able to report information in the name of each spouse on accounts covered by Sec. 202.10. Thus, if a creditor receives a credit inquiry about the wife, it should be able to locate her credit file without asking the husband's name. 10(a) Designation of accounts. 1. New parties. When new parties who are spouses undertake a legal obligation on an account, as in the case of a mortgage loan assumption, the creditor must change the designation on the account to reflect the new parties and must furnish subsequent credit information on the account in the new names. 2. Request to change designation of account. A request to change the manner in which information concerning an account is furnished does not alter the legal liability of either spouse on the account and does not require a creditor to change the name in which the account is maintained. Section 202.11--Relation to State Law 11(a) Inconsistent state laws. 1. Preemption determination--New York. The Board has determined that the following provisions in the state law of New York are preempted by the federal law, effective November 11, 1988: i. Article 15, section 296a(1)(b)--Unlawful discriminatory practices in relation to credit on the basis of race, creed, color, national origin, age, sex, marital status, or disability. This provision is preempted to the extent that it bars taking a prohibited basis into account when establishing eligibility for certain special-purpose credit programs. ii. Article 15, section 296a(1)(c)'Unlawful discriminatory practice to make any record or inquiry based on race, creed, color, national origin, age, sex, marital status, or disability. This provision is preempted to the extent that it bars a creditor from requesting and considering information regarding the particular characteristics (for example, race, national origin, or sex) required for eligibility for special-purpose credit programs. 2. Preemption determination--Ohio. The Board has determined that the following provision in the state law of Ohio is preempted by the federal law, effective July 23, 1990: i. Section 4112.021(B)(1)--Unlawful discriminatory practices in credit transactions. This provision is preempted to the extent that it bars asking or favorably considering the age of an elderly applicant; prohibits the consideration of age in a credit scoring system; permits without limitation the consideration of age in real estate transactions; and limits the consideration of age in special-purpose credit programs to certain government-sponsored programs identified in the state law. Section 202.12--Record Retention 12(a) Retention of prohibited information. 1. Receipt of prohibited information. Unless the creditor specifically requested such information, a creditor does not violate this section when it receives prohibited information from a consumer reporting agency. 2. Use of retained information. Although a creditor may keep in its files prohibited information as provided in Sec. 202.12(a), the creditor may use the information in evaluating credit applications only if permitted to do so by Sec. 202.6. 12(b) Preservation of records. 1. Copies. Copies of the original record include carbon copies, photocopies, microfilm or microfiche copies, or copies produced by any other accurate retrieval system, such as documents stored and reproduced by computer. A creditor that uses a computerized or mechanized system need not keep a paper copy of a document (for example, of an adverse action notice) if it can regenerate all pertinent information in a timely manner for examination or other purposes. 2. Computerized decisions. A creditor that enters information items from a written application into a computerized or mechanized system and makes the credit decision mechanically, based only on the items of information entered into the system, may comply with Sec. 202.12(b) by retaining the information actually entered. It is not required to store the complete written application, nor is it [[Page 69]] required to enter the remaining items of information into the system. If the transaction is subject to Sec. 202.13, however, the creditor is required to enter and retain the data on personal characteristics in order to comply with the requirements of that section. Paragraph 12(b)(3) 1. Withdrawn and brokered applications. In most cases, the 25-month retention period for applications runs from the date a notification is sent to the applicant granting or denying the credit requested. In certain transactions, a creditor is not obligated to provide a notice of the action taken. (See, for example, comment 9-2.) In such cases, the 25-month requirement runs from the date of application, as when: i. An application is withdrawn by the applicant. ii. An application is submitted to more than one creditor on behalf of the applicant, and the application is approved by one of the other creditors. 12(b)(6) Self-tests 1. The rule requires all written or recorded information about a self-test to be retained for 25 months after a self-test has been completed. For this purpose, a self-test is completed after the creditor has obtained the results and made a determination about what corrective action, if any, is appropriate. Creditors are required to retain information about the scope of the self-test, the methodology used and time period covered by the self-test, the report or results of the self- test including any analysis or conclusions, and any corrective action taken in response to the self-test. 12(b)(7) Preapplication marketing information. 1. Prescreened credit solicitations. The rule requires creditors to retain copies of prescreened credit solicitations. For purposes of this regulation, a prescreened solicitation is an ``offer of credit'' as described in 15 U.S.C. 1681a(1) of the Fair Credit Reporting Act. A creditor complies with this rule if it retains a copy of each solicitation mailing that contains different terms, such as the amount of credit offered, annual percentage rate, or annual fee. 2. List of criteria. A creditor must retain the list of criteria used to select potential recipients. This includes the criteria used by the creditor both to determine the potential recipients of the particular solicitation and to determine who will actually be offered credit. 3. Correspondence. A creditor may retain correspondence relating to consumers' complaints about prescreened solicitations in any manner that is reasonably accessible and is understandable to examiners. There is no requirement to establish a separate database or set of files for such correspondence, or to match consumer complaints with specific solicitation programs. Section 202.13--Information for Monitoring Purposes 13(a) Information to be requested. 1. Natural person. Section 202.13 applies only to applications from natural persons. 2. Principal residence. The requirements of Sec. 202.13 apply only if an application relates to a dwelling that is or will be occupied by the applicant as the principal residence. A credit application related to a vacation home or a rental unit is not covered. In the case of a two- to four-unit dwelling, the application is covered if the applicant intends to occupy one of the units as a principal residence. 3. Temporary financing. An application for temporary financing to construct a dwelling is not subject to Sec. 202.13. But an application for both a temporary loan to finance construction of a dwelling and a permanent mortgage loan to take effect upon the completion of construction is subject to Sec. 202.13. 4. New principal residence. A person can have only one principal residence at a time. However, if a person buys or builds a new dwelling that will become that person's principal residence within a year or upon completion of construction, the new dwelling is considered the principal residence for purposes of Sec. 202.13. 5. Transactions not covered. The information-collection requirements of this section apply to applications for credit primarily for the purchase or refinancing of a dwelling that is or will become the applicant's principal residence. Therefore, applications for credit secured by the applicant's principal residence but made primarily for a purpose other than the purchase or refinancing of the principal residence (such as loans for home improvement and debt consolidation) are not subject to the information-collection requirements. An application for an open-end home equity line of credit is not subject to this section unless it is readily apparent to the creditor when the application is taken that the primary purpose of the line is for the purchase or refinancing of a principal dwelling. 6. Refinancings. A refinancing occurs when an existing obligation is satisfied and replaced by a new obligation undertaken by the same borrower. A creditor that receives an application to refinance an existing extension of credit made by that creditor for the purchase of the applicant's dwelling may request the monitoring information again but is not required to do so if it was obtained in the earlier transaction. 7. Data collection under Regulation C. See comment 5(a)(2)-2. 13(b) Obtaining of information. 1. Forms for collecting data. A creditor may collect the information specified in Sec. 202.13(a) [[Page 70]] either on an application form or on a separate form referring to the application. The applicant must be offered the option to select more than one racial designation. 2. Written applications. The regulation requires written applications for the types of credit covered by Sec. 202.13. A creditor can satisfy this requirement by recording on paper or by means of computer the information that the applicant provides orally and that the creditor normally considers in a credit decision. 3. Telephone, mail applications. i. A creditor that accepts an application by telephone or mail must request the monitoring information. ii. A creditor that accepts an application by mail need not make a special request for the monitoring information if the applicant has failed to provide it on the application form returned to the creditor. iii. If it is not evident on the face of an application that it was received by mail, telephone, or via an electronic medium, the creditor should indicate on the form or other application record how the application was received. 4. Video and other electronic-application processes. i. If a creditor takes an application through an electronic medium that allows the creditor to see the applicant, the creditor must treat the application as taken in person. The creditor must note the monitoring information on the basis of visual observation or surname, if the applicant chooses not to provide the information. ii. If an applicant applies through an electronic medium without video capability, the creditor treats the application as if it were received by mail. 5. Applications through loan-shopping services. When a creditor receives an application through an unaffiliated loan-shopping service, it does not have to request the monitoring information for purposes of the ECOA or Regulation B. Creditors subject to the Home Mortgage Disclosure Act should be aware, however, that data collection may be called for under Regulation C (12 CFR part 203), which generally requires creditors to report, among other things, the sex and race of an applicant on brokered applications or applications received through a correspondent. 6. Inadvertent notation. If a creditor inadvertently obtains the monitoring information in a dwelling-related transaction not covered by Sec. 202.13, the creditor may process and retain the application without violating the regulation. 13(c) Disclosure to applicants. 1. Procedures for providing disclosures. The disclosure to an applicant regarding the monitoring information may be provided in writing. Appendix B contains a sample disclosure. A creditor may devise its own disclosure so long as it is substantially similar. The creditor need not orally request the monitoring information if it is requested in writing. 13(d) Substitute monitoring program. 1. Substitute program. An enforcement agency may adopt, under its established rulemaking or enforcement procedures, a program requiring creditors under its jurisdiction to collect information in addition to information required by this section. Section 202.14--Rules on Providing Appraisal Reports 14(a) Providing appraisals. 1. Coverage. This section covers applications for credit to be secured by a lien on a dwelling, as that term is defined in Sec. 202.14(c), whether the credit is for a business purpose (for example, a loan to start a business) or a consumer purpose (for example, a loan to finance a child's education). 2. Renewals. This section applies when an applicant requests the renewal of an existing extension of credit and the creditor obtains a new appraisal report. This section does not apply when a creditor uses the appraisal report previously obtained to evaluate the renewal request. 14(a)(2)(i) Notice. 1. Multiple applicants. When an application that is subject to this section involves more than one applicant, the notice about the appraisal report need only be given to one applicant, but it must be given to the primary applicant where one is readily apparent. 14(a)(2)(ii) Delivery. 1. Reimbursement. Creditors may charge for photocopy and postage costs incurred in providing a copy of the appraisal report, unless prohibited by state or other law. If the consumer has already paid for the report--for example, as part of an application fee--the creditor may not require additional fees for the appraisal (other than photocopy and postage costs). 14(c) Definitions. 1. Appraisal reports. Examples of appraisal reports are: i. A report prepared by an appraiser (whether or not licensed or certified), including written comments and other documents submitted to the creditor in support of the appraiser's estimate or opinion of the property's value. ii. A document prepared by the creditor's staff that assigns value to the property, if a third-party appraisal report has not been used. iii. An internal review document reflecting that the creditor's valuation is different from a valuation in a third party's appraisal report (or different from valuations that are publicly available or valuations such as manufacturers' invoices for mobile homes). 2. Other reports. The term ``appraisal report'' does not cover all documents relating [[Page 71]] to the value of the applicant's property. Examples of reports not covered are: i. Internal documents, if a third-party appraisal report was used to establish the value of the property. ii. Governmental agency statements of appraised value. iii. Valuations lists that are publicly available (such as published sales prices or mortgage amounts, tax assessments, and retail price ranges) and valuations such as manufacturers' invoices for mobile homes. Section 202.15--Incentives for Self-Testing and Self-Correction 15(a) General rules. 15(a)(1) Voluntary self-testing and correction. 1. Activities required by any governmental authority are not voluntary self-tests. A governmental authority includes both administrative and judicial authorities for federal, state, and local governments. 15(a)(2) Corrective action required. 1. To qualify for the privilege, appropriate corrective action is required when the results of a self-test show that it is more likely than not that there has been a violation of the ECOA or this regulation. A self-test is also privileged when it identifies no violations. 2. In some cases, the issue of whether certain information is privileged may arise before the self-test is complete or corrective actions are fully under way. This would not necessarily prevent a creditor from asserting the privilege. In situations where the self-test is not complete, for the privilege to apply the lender must satisfy the regulation's requirements within a reasonable period of time. To assert the privilege where the self-test shows a likely violation, the rule requires, at a minimum, that the creditor establish a plan for corrective action and a method to demonstrate progress in implementing the plan. Creditors must take appropriate corrective action on a timely basis after the results of the self-test are known. 3. A creditor's determination about the type of corrective action needed, or a finding that no corrective action is required, is not conclusive in determining whether the requirements of this paragraph have been satisfied. If a creditor's claim of privilege is challenged, an assessment of the need for corrective action or the type of corrective action that is appropriate must be based on a review of the self-testing results, which may require an in camera inspection of the privileged documents. 15(a)(3) Other privileges. 1. A creditor may assert the privilege established under this section in addition to asserting any other privilege that may apply, such as the attorney-client privilege or the work-product privilege. Self-testing data may be privileged under this section whether or not the creditor's assertion of another privilege is upheld. 15(b) Self-test defined. 15(b)(1) Definition. Paragraph 15(b)(1)(i) 1. To qualify for the privilege, a self-test must be sufficient to constitute a determination of the extent or effectiveness of the creditor's compliance with the Act and Regulation B. Accordingly, a self-test is only privileged if it was designed and used for that purpose. A self-test that is designed or used to determine compliance with other laws or regulations or for other purposes is not privileged under this rule. For example, a self-test designed to evaluate employee efficiency or customers' satisfaction with the level of service provided by the creditor is not privileged even if evidence of discrimination is uncovered incidentally. If a self-test is designed for multiple purposes, only the portion designed to determine compliance with the ECOA is eligible for the privilege. Paragraph 15(b)(1)(ii) 1. The principal attribute of self-testing is that it constitutes a voluntary undertaking by the creditor to produce new data or factual information that otherwise would not be available and could not be derived from loan or application files or other records related to credit transactions. Self-testing includes, but is not limited to, the practice of using fictitious applicants for credit (testers), either with or without the use of matched pairs. A creditor may elect to test a defined segment of its business, for example, loan applications processed by a specific branch or loan officer, or applications made for a particular type of credit or loan program. A creditor also may use other methods of generating information that is not available in loan and application files, such as surveying mortgage loan applicants. To the extent permitted by law, creditors might also develop new methods that go beyond traditional pre-application testing, such as hiring testers to submit fictitious loan applications for processing. 2. The privilege does not protect a creditor's analysis performed as part of processing or underwriting a credit application. A creditor's evaluation or analysis of its loan files, Home Mortgage Disclosure Act data, or similar types of records (such as broker or loan officer compensation records) does not produce new information about a creditor's compliance and is not a self-test for purposes of this section. Similarly, a statistical analysis of data derived from existing loan files is not privileged. 15(b)(3) Types of information not privileged. [[Page 72]] Paragraph 15(b)(3)(i) 1. The information listed in this paragraph is not privileged and may be used to determine whether the prerequisites for the privilege have been satisfied. Accordingly, a creditor might be asked to identify the self-testing method, for example, whether preapplication testers were used or data were compiled by surveying loan applicants. Information about the scope of the self-test (such as the types of credit transactions examined, or the geographic area covered by the test) also is not privileged. Paragraph 15(b)(3)(ii) 1. Property appraisal reports, minutes of loan committee meetings or other documents reflecting the basis for a decision to approve or deny an application, loan policies or procedures, underwriting standards, and broker compensation records are examples of the types of records that are not privileged. If a creditor arranges for testers to submit loan applications for processing, the records are not related to actual credit transactions for purposes of this paragraph and may be privileged self-testing records. 15(c) Appropriate corrective action. 1. The rule only addresses the corrective actions required for a creditor to take advantage of the privilege in this section. A creditor may be required to take other actions or provide additional relief if a formal finding of discrimination is made. 15(c)(1) General requirement. 1. Appropriate corrective action is required even though no violation has been formally adjudicated or admitted by the creditor. In determining whether it is more likely than not that a violation occurred, a creditor must treat testers as if they are actual applicants for credit. A creditor may not refuse to take appropriate corrective action under this section because the self-test used fictitious loan applicants. The fact that a tester's agreement with the creditor waives the tester's legal right to assert a violation does not eliminate the requirement for the creditor to take corrective action, although no remedial relief for the tester is required under paragraph 15(c)(3). 15(c)(2) Determining the scope of appropriate corrective action. 1. Whether a creditor has taken or is taking corrective action that is appropriate will be determined on a case-by-case basis. Generally, the scope of the corrective action that is needed to preserve the privilege is governed by the scope of the self-test. For example, a creditor that self-tests mortgage loans and discovers evidence of discrimination may focus its corrective actions on mortgage loans, and is not required to expand its testing to other types of loans. 2. In identifying the policies or practices that are a likely cause of the violation, a creditor might identify inadequate or improper lending policies, failure to implement established policies, employee conduct, or other causes. The extent and scope of a likely violation may be assessed by determining which areas of operations are likely to be affected by those policies and practices, for example, by determining the types of loans and stages of the application process involved and the branches or offices where the violations may have occurred. 3. Depending on the method and scope of the self-test and the results of the test, appropriate corrective action may include one or more of the following: i. If the self-test identifies individuals whose applications were inappropriately processed, offering to extend credit if the application was improperly denied and compensating such persons for out-of-pocket costs and other compensatory damages; ii. Correcting institutional policies or procedures that may have contributed to the likely violation, and adopting new policies as appropriate; iii. Identifying and then training and/or disciplining the employees involved; iv. Developing outreach programs, marketing strategies, or loan products to serve more effectively segments of the lender's markets that may have been affected by the likely discrimination; and v. Improving audit and oversight systems to avoid a recurrence of the likely violations. 15(c)(3) Types of relief. Paragraph 15(c)(3)(ii) 1. The use of pre-application testers to identify policies and practices that illegally discriminate does not require creditors to review existing loan files for the purpose of identifying and compensating applicants who might have been adversely affected. 2. If a self-test identifies a specific applicant who was discriminated against on a prohibited basis, to qualify for the privilege in this section the creditor must provide appropriate remedial relief to that applicant; the creditor is not required to identify other applicants who might also have been adversely affected. Paragraph 15(c)(3)(iii) 1. A creditor is not required to provide remedial relief to an applicant that would not be available by law. An applicant might also be ineligible for certain types of relief due to changed circumstances. For example, a creditor is not required to offer credit to a denied applicant if the applicant no longer qualifies for the credit due to a change in financial circumstances, although some other type of relief might be appropriate. 15(d)(1) Scope of privilege. [[Page 73]] 1. The privilege applies with respect to any examination, investigation or proceeding by federal, state, or local government agencies relating to compliance with the Act or this regulation. Accordingly, in a case brought under the ECOA, the privilege established under this section preempts any inconsistent laws or court rules to the extent they might require disclosure of privileged self-testing data. The privilege does not apply in other cases (such as in litigation filed solely under a state's fair lending statute). In such cases, if a court orders a creditor to disclose self-test results, the disclosure is not a voluntary disclosure or waiver of the privilege for purposes of paragraph 15(d)(2); a creditor may protect the information by seeking a protective order to limit availability and use of the self-testing data and prevent dissemination beyond what is necessary in that case. Paragraph 15(d)(1) precludes a party who has obtained privileged information from using it in a case brought under the ECOA, provided the creditor has not lost the privilege through voluntary disclosure under paragraph 15(d)(2). 15(d)(2) Loss of privilege. Paragraph 15(d)(2)(i) 1. A creditor's corrective action, by itself, is not considered a voluntary disclosure of the self-test report or results. For example, a creditor does not disclose the results of a self-test merely by offering to extend credit to a denied applicant or by inviting the applicant to reapply for credit. Voluntary disclosure could occur under this paragraph, however, if the creditor disclosed the self-test results in connection with a new offer of credit. 2. The disclosure of self-testing results to an independent contractor acting as an auditor or consultant for the creditor on compliance matters does not result in loss of the privilege. Paragraph 15(d)(2)(ii) 1. The privilege is lost if the creditor discloses privileged information, such as the results of the self-test. The privilege is not lost if the creditor merely reveals or refers to the existence of the self-test. Paragraph 15(d)(2)(iii) 1. A creditor's claim of privilege may be challenged in a court or administrative law proceeding with appropriate jurisdiction. In resolving the issue, the presiding officer may require the creditor to produce privileged information about the self-test. Paragraph 15(d)(3) Limited use of privileged information 1. A creditor may be required to produce privileged documents for the purpose of determining a penalty or remedy after a violation of the ECOA or Regulation B has been formally adjudicated or admitted. A creditor's compliance with such a requirement does not evidence the creditor's intent to forfeit the privilege. Section 202.16--Enforcement, Penalties, and Liabilities 17(c) Failure of compliance. 1. Inadvertent errors. Inadvertent errors include, but are not limited to, clerical mistake, calculation error, computer malfunction, and printing error. An error of legal judgment is not an inadvertent error under the regulation. 2. Correction of error. For inadvertent errors that occur under Sec. Sec. 202.12 and 202.13, this section requires that they be corrected prospectively. Appendix B--Model Application Forms 1. Freddie Mac/Fannie Mae form--residential loan application. The uniform residential loan application form (Freddie Mac 65/Fannie Mae 1003), including supplemental form (Freddie Mac 65A/Fannie Mae 1003A), prepared by the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association and dated October 1992 may be used by creditors without violating this regulation. Creditors that are governed by the monitoring requirements of this regulation (which limits collection to applications primarily for the purchase or refinancing of the applicant's principal residence) should delete, strike, or modify the data-collection section on the form when using it for transactions not covered by Sec. 202.13(a) to ensure that they do not collect the information. Creditors that are subject to more extensive collection requirements by a substitute monitoring program under Sec. 202.13(d) or by the Home Mortgage Disclosure Act (HMDA) may use the form as issued, in compliance with the substitute program or HMDA. 2. FHLMC/FNMA form--home improvement loan application. The home- improvement and energy loan application form (FHLMC 703/FNMA 1012), prepared by the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association and dated October 1986, complies with the requirements of the regulation for some creditors but not others because of the form's section ``Information for Government Monitoring Purposes.'' Creditors that are governed by Sec. 202.13(a) of the regulation (which limits collection to applications primarily for the purchase or refinancing of the applicant's principal residence) should delete, strike, or modify the data-collection section on the form when using it for transactions not covered by Sec. 202.13(a) to ensure that they do not collect the information. Creditors that are subject to more extensive collection requirements by a substitute monitoring program [[Page 74]] under Sec. 202.13(d) may use the form as issued, in compliance with that substitute program. Appendix C--Sample Notification Forms 1. Form C-9. Creditors may design their own form, add to, or modify the model form to reflect their individual policies and procedures. For example, a creditor may want to add: i. A telephone number that applicants may call to leave their name and the address to which an appraisal report should be sent. ii. A notice of the cost the applicant will be required to pay the creditor for the appraisal or a copy of the report. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 72 FR 63451, Nov. 9, 2007; 72 FR 71057, Dec. 14, 2007; 76 FR 41602, July 15, 2011] PART 203 [RESERVED] PART 204_RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D)- -Table of Contents Sec. 204.1 Authority, purpose and scope. 204.2 Definitions. 204.3 Reporting and location. 204.4 Computation of required services. 204.5 Maintenance of required reserves. 204.6 Charges for deficiencies. 204.7 Supplemental reserve requirement. 204.8 International banking facilities. 204.9 Emergency reserve requirement. 204.10 Payment of interest on balances. Interpretations 204.121 Bankers' banks. 204.122 Secondary market activities of international banking facilities. 204.123 Sale of Federal funds by investment companies or trusts in which the entire beneficial interest is held exclusively by depository institutions. 204.124 Repurchase agreement involving shares of a money market mutual fund whose portfolio consists wholly of United States Treasury and Federal agency securities. 204.125 Foreign, international, and supranational entities referred to in Sec. Sec. 204.2(c)(1)(iv)(E) and 204.8(a)(2)(i)(B)(5). 204.126 Depository institution participation in ``Federal funds'' market. 204.127 Nondepository participation in ``Federal funds'' market. 204.128 Deposits at foreign branches guaranteed by domestic office of a depository institution. 204.130 Eligibility for NOW accounts. 204.131 Participation by a depository institution in the secondary market for its own time deposits. 204.132 Treatment of loan strip participations. 204.133 Multiple savings deposits treated as a transaction account. 204.134 Linked time deposits and transaction accounts. 204.135 Shifting funds between depository institutions to make use of the low reserve tranche. 204.136 Treatment of trust overdrafts for reserve requirement reporting purposes. Authority: 12 U.S.C. 248(a), 248(c), 461, 601, 611, and 3105. Sec. 204.1 Authority, purpose and scope. (a) Authority. This part is issued under the authority of section 19 (12 U.S.C. 461 et seq.) and other provisions of the Federal Reserve Act and of section 7 of the International Banking Act of 1978 (12 U.S.C. 3105). (b) Purpose. This part relates to reserve requirements imposed on depository institutions for the purpose of facilitating the implementation of monetary policy by the Federal Reserve System. (c) Scope. (1) The following depository institutions are required to maintain reserves in accordance with this part: (i) Any insured bank as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(h)) or any bank that is eligible to apply to become an insured bank under section 5 of such Act (12 U.S.C. 1815); (ii) Any savings bank or mutual savings bank as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(f), (g)); (iii) Any insured credit union as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752(7)) or any credit union that is eligible to apply to become an insured credit union under section 201 of such Act (12 U.S.C. 1781); (iv) Any member as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422(4)); and (v) Any insured institution as defined in section 401 of the National Housing Act (12 U.S.C. 1724(a)) or any institution which is eligible to apply to become an insured institution under section 403 of such Act (12 U.S.C. 1726). (2) Except as may be otherwise provided by the Board, a foreign bank's branch or agency located in the United States is required to comply with the provisions of this part in the same [[Page 75]] manner and to the same extent as if the branch or agency were a member bank, if its parent foreign bank (i) has total worldwide consolidated bank assets in excess of $1 billion; or (ii) is controlled by a foreign company or by a group of foreign companies that own or control foreign banks that in the aggregate have total worldwide consolidated bank assets in excess of $1 billion. In addition, any other foreign bank's branch located in the United States that is eligible to apply to become an insured bank under section 5 of the Federal Deposit Insurance Act (12 U.S.C. 1815) is required to maintain reserves in accordance with this part as a nonmember depository institution. (3) Except as may be otherwise provided by the Board, an Edge Corporation (12 U.S.C. 611 et seq.) or an Agreement Corporation (12 U.S.C. 601 et seq.) is required to comply with the provisions of this part in the same manner and to the same extent as a member bank. (4) This part does not apply to any financial institution that (i) is organized solely to do business with other financial institutions; (ii) is owned primarily by the financial institutions with which it does business; and (iii) does not do business with the general public. (5) The provisions of this part do not apply to any deposit that is payable only at an office located outside the United States. [45 FR 56018, Aug. 22, 1980, as amended by Reg. D, 77 FR 21852, Apr. 12, 2012] Sec. 204.2 Definitions. For purposes of this part, the following definitions apply unless otherwise specified: (a)(1) Deposit means: (i) The unpaid balance of money or its equivalent received or held by a depository institution in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to an account, including interest credited, or which is evidenced by an instrument on which the depository institution is primarily liable; (ii) Money received or held by a depository institution, or the credit given for money or its equivalent received or held by the depository institution in the usual course of business for a special or specific purpose, regardless of the legal relationships established thereby, including escrow funds, funds held as security for securities loaned by the depository institution, funds deposited as advance payment on subscriptions to United States government securities, and funds held to meet its acceptances; (iii) An outstanding teller's check, or an outstanding draft, certified check, cashier's check, money order, or officer's check drawn on the depository institution, issued in the usual course of business for any purpose, including payment for services, dividends or purchases; (iv) Any due bill or other liability or undertaking on the part of a depository institution to sell or deliver securities to, or purchase securities for the account of, any customer (including another depository institution), involving either the receipt of funds by the depository institution, regardless of the use of the proceeds, or a debit to an account of the customer before the securities are delivered. A deposit arises thereafter, if after three business days from the date of issuance of the obligation, the depository institution does not deliver the securities purchased or does not fully collateralize its obligation with securities similar to the securities purchased. A security is similar if it is of the same type and if it is of comparable maturity to that purchased by the customer; (v) Any liability of a depository institution's affiliate that is not a depository institution, on any promissory note, acknowledgment of advance, due bill, or similar obligation (written or oral), with a maturity of less than one and one-half years, to the extent that the proceeds are used to supply or to maintain the availability of funds (other than capital) to the depository institution, except any such obligation that, had it been issued directly by the depository institution, would not constitute a deposit. If an obligation of an affiliate of a depository institution is regarded as a deposit and is used to purchase assets from the depository institution, the maturity of the deposit [[Page 76]] is determined by the shorter of the maturity of the obligation issued or the remaining maturity of the assets purchased. If the proceeds from an affiliate's obligation are placed in the depository institution in the form of a reservable deposit, no reserves need be maintained against the obligation of the affiliate since reserves are required to be maintained against the deposit issued by the depository institution. However, the maturity of the deposit issued to the affiliate shall be the shorter of the maturity of the affiliate's obligation or the maturity of the deposit; (vi) Credit balances; (vii) Any liability of a depository institution on any promissory note, acknowledgment of advance, bankers' acceptance, or similar obligation (written or oral), including mortgage-backed bonds, that is issued or undertaken by a depository institution as a means of obtaining funds, except any such obligation that: (A) Is issued or undertaken and held for the account of: (1) An office located in the United States of another depository institution, foreign bank, Edge or Agreement Corporation, or New York Investment (Article XII) Company; (2) The United States government or an agency thereof; or (3) The Export-Import Bank of the United States, Minbanc Capital Corporation, the Government Development Bank for Puerto Rico, a Federal Reserve Bank, a Federal Home Loan Bank, or the National Credit Union Administration Central Liquidity Facility; (B) Arises from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States Government or any agency thereof that the depository institution is obligated to repurchase; (C) Is not insured by a Federal agency, is subordinated to the claims of depositors, has a weighted average maturity of five years or more, and is issued by a depository institution with the approval of, or under the rules and regulations of, its primary Federal supervisor; (D) Arises from a borrowing by a depository institution from a dealer in securities, for one business day, of proceeds of a transfer of deposit credit in a Federal Reserve Bank or other immediately available funds (commonly referred to as Federal funds), received by such dealer on the date of the loan in connection with clearance of securities transactions; or (E) Arises from the creation, discount and subsequent sale by a depository institution of its bankers' acceptance of the type described in paragraph 7 of section 13 of the Federal Reserve Act (12 U.S.C. 372). (viii) Any liability of a depository institution that arises from the creation after June 20, 1983, of a bankers' acceptance that is not of the type described in paragraph 7 of section 13 of the Federal Reserve Act (12 U.S.C. 372) except any such liability held for the account of an entity specified in Sec. 204.2(a)(1)(vii)(A); or (2) Deposit does not include: (i) Trust funds received or held by the depository institution that it keeps properly segregated as trust funds and apart from its general assets or which it deposits in another institution to the credit of itself as trustee or other fiduciary. If trust funds are deposited with the commercial department of the depository institution or otherwise mingled with its general assets, a deposit liability of the institution is created; (ii) An obligation that represents a conditional, contingent or endorser's liability; (iii) Obligations, the proceeds of which are not used by the depository institution for purposes of making loans, investments, or maintaining liquid assets such as cash or ``due from'' depository institutions or other similar purposes. An obligation issued for the purpose of raising funds to purchase business premises, equipment, supplies, or similar assets is not a deposit; (iv) Accounts payable; (v) Hypothecated deposits created by payments on an installment loan where (A) the amounts received are not used immediately to reduce the unpaid balance due on the loan until the sum of the payments equals the entire amount of loan principal and interest; (B) and [[Page 77]] where such amounts are irrevocably assigned to the depository institution and cannot be reached by the borrower or creditors of the borrower; (vi) Dealer reserve and differential accounts that arise from the financing of dealer installment accounts receivable, and which provide that the dealer may not have access to the funds in the account until the installment loans are repaid, as long as the depository institution is not actually (as distinguished from contingently) obligated to make credit or funds available to the dealer; (vii) A dividend declared by a depository institution for the period intervening between the date of the declaration of the dividend and the date on which it is paid; (viii) An obligation representing a pass through account, as defined in this section; (ix) An obligation arising from the retention by the depository institution of no more than a 10 per cent interest in a pool of conventional 1-4 family mortgages that are sold to third parties; (x) An obligation issued to a State or municipal housing authority under a loan-to-lender program involving the issuance of tax exempt bonds and the subsequent lending of the proceeds to the depository institution for housing finance purposes; (xi) Shares of a credit union held by the National Credit Union Administration or the National Credit Union Administration Central Liquidity Facility under a statutorily authorized assistance program; and (xii) Any liability of a United States branch or agency of a foreign bank to another United States branch or agency of the same foreign bank, or the liability of the United States office of an Edge Corporation to another United States office of the same Edge Corporation. (b)(1) Demand deposit means a deposit that is payable on demand, or a deposit issued with an original maturity or required notice period of less than seven days, or a deposit representing funds for which the depository institution does not reserve the right to require at least seven days' written notice of an intended withdrawal. Demand deposits may be in the form of: (i) Checking accounts; (ii) Certified, cashier's, teller's, and officer's checks (including such checks issued in payment of dividends); (iii) Traveler's checks and money orders that are primary obligations of the issuing institution; (iv) Checks or drafts drawn by, or on behalf of, a non-United States office of a depository institution on an account maintained at any of the institution's United States offices; (v) Letters of credit sold for cash or its equivalent; (vi) Withheld taxes, withheld insurance and other withheld funds; (vii) Time deposits that have matured or time deposits upon which the contractually required notice of withdrawal as given and the notice period has expired and which have not been renewed (either by action of the depositor or automatically under the terms of the deposit agreement); and (viii) An obligation to pay, on demand or within six days, a check (or other instrument, device, or arrangement for the transfer of funds) drawn on the depository institution, where the account of the institution's customer already has been debited. (2) The term demand deposit also means deposits or accounts on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and from which the depositor is authorized to make withdrawals or transfers in excess of the withdrawal or transfer limitations specified in paragraph (d)(2) of this section for such an account and the account is not a NOW account, or an ATS account or other account that meets the criteria specified in either paragraph (b)(3)(ii) or (iii) of this section. (3) Demand deposit does not include: (i) Any account that is a time deposit or a savings deposit under this part; (ii) Any deposit or account on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and either-- (A) Is subject to check, draft, negotiable order of withdrawal, share draft, [[Page 78]] or similar item, such as an account authorized by 12 U.S.C. 1832(a) (NOW account) and a savings deposit described in Sec. 204.2(d)(2), provided that the depositor is eligible to hold a NOW account; or (B) From which the depositor is authorized to make transfers by preauthorized transfer or telephonic (including data transmission) agreement, order or instruction to another account or to a third party, provided that the depositor is eligible to hold a NOW account; (iii) Any deposit or account on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and from which withdrawals may be made automatically through payment to the depository institution itself or through transfer of credit to a demand deposit or other account in order to cover checks or drafts drawn upon the institution or to maintain a specified balance in, or to make periodic transfers to such other account, such as accounts authorized by 12 U.S.C. 371a (automatic transfer account or ATS account), provided that the depositor is eligible to hold an ATS account; or (iv) IBF time deposits meeting the requirements of Sec. 204.8(a)(2). (c)(1) Time deposit means: (i) A deposit that the depositor does not have a right and is not permitted to make withdrawals from within six days after the date of deposit unless the deposit is subject to an early withdrawal penalty of at least seven days' simple interest on amounts withdrawn within the first six days after deposit. \1\ A time deposit from which partial early withdrawals are permitted must impose additional early withdrawal penalties of at least seven days' simple interest on amounts withdrawn within six days after each partial withdrawal. If such additional early withdrawal penalties are not imposed, the account ceases to be a time deposit. The account may become a savings deposit if it meets the requirements for a saving deposit; otherwise it becomes a transaction account. Time deposit includes funds-- --------------------------------------------------------------------------- \1\ A time deposit, or a portion thereof, may be paid during the period when an early withdrawal penalty would otherwise be required under this part without imposing an early withdrawal penalty specified by this part: (a) Where the time deposit is maintained in an individual retirement account established in accordance with 26 U.S.C. 408 and is paid within seven days after establishment of the individual retirement account pursuant to 26 CFR 1.408-6(d)(4), where it is maintained in a Keogh (H.R. 10) plan, or where it is maintained in a 401(k) plan under 26 U.S.C. 401(k); Provided that the depositor forfeits an amount at least equal to the simple interest earned on the amount withdrawn; (b) Where the depository institution pays all or a portion of a time deposit representing funds contributed to an individual retirement account or a Keogh (H.R.10) plan established pursuant to 26 U.S.C. 408 or 26 U.S.C. 401 or to a 401(k) plan established pursuant to 26 U.S.C. 401(k) when the individual for whose benefit the account is maintained attains age 59\1/2\ or is disabled (as defined in 26 U.S.C. 72(m)(7)) or thereafter; (c) Where the depository institution pays that portion of a time deposit on which federal deposit insurance has been lost as a result of the merger of two or more federally insured banks in which the depositor previously maintained separate time deposits, for a period of one year from the date of the merger; (d) Upon the death of any owner of the time deposit funds; (e) When any owner of the time deposit is determined to be legally incompetent by a court or other administrative body of competent jurisdiction; or (f) Where a time deposit is withdrawn within ten days after a specified maturity date even though the deposit contract provided for automatic renewal at the maturity date. --------------------------------------------------------------------------- (A) Payable on a specified date not less than seven days after the date of deposit; (B) Payable at the expiration of a specified time not less than seven days after the date of deposit; (C) Payable only upon written notice that is actually required to be given by the depositor not less than seven days prior to withdrawal; (D) Held in club accounts (such as Christmas club accounts and vacation club accounts that are not maintained as savings deposits) that are deposited under written contracts providing that no withdrawal shall be made until a certain number of periodic deposits have been made during a period of not less than three months even though [[Page 79]] some of the deposits may be made within six days from the end of the period; or (E) Share certificates and certificates of indebtedness issued by credit unions, and certificate accounts and notice accounts issued by savings and loan associations; (ii) An IBF time deposit meeting the requirements of Sec. 204.8(a)(2); and (iii) Borrowings, regardless of maturity, represented by a promissory note, an acknowledgment of advance, or similar obligation described in Sec. 204.2(a)(1)(vii) that is issued to, or any bankers' acceptance (other than the type described in 12 U.S.C. 372) of the depository institution held by-- (A) Any office located outside the United States of another depository institution or Edge or agreement corporation organized under the laws of the United States; (B) Any office located outside the United States of a foreign bank; (C) A foreign national government, or an agency or instrumentality thereof, \2\ engaged principally in activities which are ordinarily performed in the United States by governmental entities; --------------------------------------------------------------------------- \2\ Other than states, provinces, municipalities, or other regional or local governmental units or agencies or instrumentalities thereof. --------------------------------------------------------------------------- (D) An international entity of which the United States is a member; or (E) Any other foreign, international, or supranational entity specifically designated by the Board. \3\ --------------------------------------------------------------------------- \3\ The designated entities are specified in 12 CFR 204.125. --------------------------------------------------------------------------- (2) A time deposit may be represented by a transferable or nontransferable, or a negotiable or nonnegotiable, certificate, instrument, passbook, or statement, or by book entry or otherwise. (d)(1) Savings deposit means a deposit or account with respect to which the depositor is not required by the deposit contract but may at any time be required by the depository institution to give written notice of an intended withdrawal not less than seven days before withdrawal is made, and that is not payable on a specified date or at the expiration of a specified time after the date of deposit. The term savings deposit includes a regular share account at a credit union and a regular account at a savings and loan association. (2) The term ``savings deposit'' also means: A deposit or account, such as an account commonly known as a passbook savings account, a statement savings account, or as a money market deposit account (MMDA), that otherwise meets the requirements in paragraph (d)(1) of this section and from which, under the terms of the deposit contract or by practice of the depository institution, the depositor may be permitted or authorized to make transfers and withdrawals to another account (including a transaction account) of the depositor at the same institution or to a third party, regardless of the number of such transfers and withdrawals or the manner in which such transfers and withdrawals are made. (3) A deposit may continue to be classified as a savings deposit even if the depository institution exercises its right to require notice of withdrawal. (4) Savings deposit does not include funds deposited to the credit of the depository institution's own trust department where the funds involved are utilized to cover checks or drafts. Such funds are transaction accounts. (e) Transaction account means a deposit or account from which the depositor or account holder is permitted to make transfers or withdrawals by negotiable or transferable instrument, payment order of withdrawal, telephone transfer, or other similar device for the purpose of making payments or transfers to third persons or others or from which the depositor may make third party payments at an automated teller machine (ATM) or a remote service unit, or other electronic device, including by debit card. Transaction account includes: (1) Demand deposits; (2) Deposits or accounts on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and that are subject to check, draft, negotiable order of withdrawal, share draft, or other similar item, including accounts described in paragraph (d)(2) of this section (savings deposits) and including accounts authorized by 12 U.S.C. 1832(a) (NOW accounts). [[Page 80]] (3) Deposits or accounts on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and from which withdrawals may be made automatically through payment to the depository institution itself or through transfer or credit to a demand deposit or other account in order to cover checks or drafts drawn upon the institution or to maintain a specified balance in, or to make periodic transfers to such accounts, including accounts authorized by 12 U.S.C. 371a (automatic transfer accounts or ATS accounts). (4) Deposits or accounts on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and under the terms of which, or by practice of the depository institution, the depositor is permitted or authorized to make withdrawals for the purposes of transferring funds to another account of the depositor at the same institution (including transaction account) or for making payment to a third party, regardless of the number of such transfers and withdrawals and regardless of the manner in which such transfers and withdrawals are made. (5) Deposits or accounts maintained in connection with an arrangement that permits the depositor to obtain credit directly or indirectly through the drawing of a negotiable or nonnegotiable check, draft, order or instruction or other similar device (including telephone or electronic order or instruction) on the issuing institution that can be used for the purpose of making payments or transfers to third persons or others or to a deposit account of the depositor. (6) All deposits other than time deposits, including those accounts that are time deposits in form but that the Board has determined, by rule or order, to be transaction accounts. (f)(1) Nonpersonal time deposit means: (i) A time deposit, including an MMDA or any other savings deposit, representing funds in which any beneficial interest is held by a depositor which is not a natural person; (ii) A time deposit, including an MMDA or any other savings deposit, that represents funds deposited to the credit of a depositor that is not a natural person, other than a deposit to the credit of a trustee or other fiduciary if the entire beneficial interest in the deposit is held by one or more natural persons; (iii) A transferable time deposit. A time deposit is transferable unless it contains a specific statement on the certificate, instrument, passbook, statement or other form representing the account that it is not transferable. A time deposit that contains a specific statement that it is not transferable is not regarded as transferable even if the following transactions can be effected: a pledge as collateral for a loan, a transaction that occurs due to circumstances arising from death, incompetency, marriage, divorce, attachment, or otherwise by operation of law or a transfer on the books or records of the institution; and (iv) A time deposit represented by a promissory note, an acknowledgment of advance, or similar obligation described in paragraph (a)(1)(vii) of this section that is issued to, or any bankers' acceptance (other than the type described in 12 U.S.C. 372) of the depository institution held by: (A) Any office located outside the United States of another depository institution or Edge or agreement corporation organized under the laws of the United States; (B) Any office located outside the United States of a foreign bank; (C) A foreign national government, or an agency or instrumentality thereof, \5\ engaged principally in activities which are ordinarily performed in the United States by governmental entities; --------------------------------------------------------------------------- \5\ Other than states, provinces, municipalities, or other regional or local governmental units or agencies or instrumentalities thereof. --------------------------------------------------------------------------- (D) An international entity of which the United States is a member; or (E) Any other foreign, international, or supranational entity specifically designated by the Board. \6\ --------------------------------------------------------------------------- \6\ The designated entities are specified in 12 CFR 217.126. --------------------------------------------------------------------------- (2) Nonpersonal time deposit does not include nontransferable time deposits [[Page 81]] to the credit of or in which the entire beneficial interest is held by an individual pursuant to an individual retirement account or Keogh (H.R. 10) plan under 26 U.S.C. 408, 401, or non-transferable time deposits held by an employer as part of an unfunded deferred- compensation plan established pursuant to subtitle D of the Revenue Act of 1978 (Pub. L. 95-600, 92 Stat. 2763), or a 401(k) plan under 26 U.S.C. 401(k). (g) Natural person means an individual or a sole proprietorship. The term does not mean a corporation owned by an individual, a partnership or other association. (h) Eurocurrency liabilities means: (1) For a depository institution or an Edge or Agreement Corporation organized under the laws of the United States, the sum, if positive, of the following: (i) Net balances due to its non-United States offices and its international banking facilities (IBFs) from its United States offices; (ii)(A) For a depository institution organized under the laws of the United States, assets (including participations) acquired from its United States offices and held by its non-United States offices, by its IBF, or by non-United States offices of an affiliated Edge or Agreement Corporation; \7\ or --------------------------------------------------------------------------- \7\ This paragraph does not apply to assets that were acquired by an IBF from its establishing entity before the end of the second reserve computation period after its establishment. --------------------------------------------------------------------------- (B) For an Edge or Agreement Corporation, assets (including participations) acquired from its United States offices and held by its non-United States offices, by its IBF, by non-United States offices of its U.S. or foreign parent institution, or by non-United States offices of an affiliated Edge or Agreement Corporation; and (iii) Credit outstanding from its non-United States offices to United States residents (other than assets acquired and net balances due from its United States offices), except credit extended (A) from its non-United States offices in the aggregate amount of $100,000 or less to any United States resident, (B) by a non-United States office that at no time during the computation period had credit outstanding to United States residents exceeding $1 million, (C) to an international banking facility, or (D) to an institution that will be maintaining reserves on such credit pursuant to this part. Credit extended from non-United States offices or from IBFs to a foreign branch, office, subsidiary, affiliate of other foreign establishment (foreign affiliate) controlled by one or more domestic corporations is not regarded as credit extended to a United States resident if the proceeds will be used to finance the operations outside the United States of the borrower or of other foreign affiliates of the controlling domestic corporation(s). (2) For a United States branch or agency of a foreign bank, the sum, if positive, of the following: (i) Net balances due to its foreign bank (including offices thereof located outside the United States) and its international banking facility after deducting an amount equal to 8 per cent of the following: the United States branch's or agency's total assets less the sum of (A) cash items in process of collection; (B) unposted debits; (C) demand balances due from depository institutions organized under the laws of the United States and from other foreign banks; (D) balances due from foreign central banks; and (E) positive net balances due from its IBF, its foreign bank, and the foreign bank's United States and non-United States offices; and (ii) Assets (including participations) acquired from the United States branch or agency (other than assets required to be sold by Federal or State supervisory authorities) and held by its foreign bank (including offices thereof located outside the United States), by its parent holding company, by non-United States offices or an IBF of an affiliated Edge or Agreement Corporation, or by its IBFs. \8\ --------------------------------------------------------------------------- \8\ See footnote 7. --------------------------------------------------------------------------- (i)(1) Cash item in process of collection means: (i) Checks in the process of collection, drawn on a bank or other depository institution that are payable immediately upon presentation in the United States, including checks forwarded to a Federal Reserve Bank in [[Page 82]] process of collection and checks on hand that will be presented for payment or forwarded for collection on the following business day; (ii) Government checks drawn on the Treasury of the United States that are in the process of collection; and (iii) Such other items in the process of collection, that are payable immediately upon presentation in the United States and that are customarily cleared or collected by depository institutions as cash items, including: (A) Drafts payable through another depository institution; (B) Matured bonds and coupons (including bonds and coupons that have been called and are payable on presentation); (C) Food coupons and certificates; (D) Postal and other money orders, and traveler's checks; (E) Amounts credited to deposit accounts in connection with automated payment arrangements where such credits are made one business day prior to the scheduled payment date to insure that funds are available on the payment date; (F) Commodity or bill of lading drafts payable immediately upon presentation in the United States; (G) Returned items and unposted debits; and (H) Broker security drafts. (2) Cash item in process of collection does not include items handled as noncash collections and credit card sales slips and drafts. (j) Net transaction accounts means the total amount of a depository institution's transaction accounts less the deductions allowed under the provisions of Sec. 204.3. (k)(1) Vault cash means United States currency and coin owned and booked as an asset by a depository institution that may, at any time, be used to satisfy claims of that depository institution's depositors and that meets the requirements of paragraph (k)(2)(i) or (k)(2)(ii) of this section. (2) Vault cash must be either: (i) Held at a physical location of the depository institution (including the depository institution's proprietary ATMs) from which the institution's depositors may make cash withdrawals; or (ii) Held at an alternate physical location if-- (A) The depository institution claiming the currency and coin as vault cash at all times retains full rights of ownership in and to the currency and coin held at the alternate physical location; (B) The depository institution claiming the currency and coin as vault cash at all times books the currency and coin held at the alternate physical location as an asset of the depository institution; (C) No other depository institution claims the currency and coin held at the alternate physical location as vault cash in satisfaction of that other depository institution's reserve requirements; (D) The currency and coin held at the alternate physical location is reasonably nearby a location of the depository institution claiming the currency and coin as vault cash at which its depositors may make cash withdrawals (an alternate physical location is considered ``reasonably nearby'' if the depository institution that claims the currency and coin as vault cash can recall the currency and coin from the alternate physical location by 10 a.m. and, relying solely on ground transportation, receive the currency and coin not later than 4 p.m. on the same calendar day at a location of the depository institution at which its depositors may make cash withdrawals); and (E) The depository institution claiming the currency and coin as vault cash has in place a written cash delivery plan and written contractual arrangements necessary to implement that plan that demonstrate that the currency and coin can be recalled and received in accordance with the requirements of paragraph (k)(2)(ii)(D) of this section at any time. The depository institution shall provide copies of the written cash delivery plan and written contractual arrangements to the Federal Reserve Bank that holds its account or to the Board upon request. (3) ``Vault cash'' includes United States currency and coin in transit to a Federal Reserve Bank or a correspondent depository institution for which the reporting depository institution has not yet received credit, and United States currency and coin in [[Page 83]] transit from a Federal Reserve Bank or a correspondent depository institution when the reporting depository institution's account at the Federal Reserve or correspondent bank has been charged for such shipment. (4) Silver and gold coin and other currency and coin whose numismatic or bullion value is substantially in excess of face value is not vault cash for purposes of this part. (l) Pass-through account means a balance maintained by a depository institution with a correspondent institution under Sec. 204.5(d). (m)(1) Depository institution means: (i) Any insured bank as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(h)) or any bank that is eligible to apply to become an insured bank under section 5 of such Act (12 U.S.C. 1815); (ii) Any savings bank or mutual savings bank as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(f), (g)); (iii) Any insured credit union as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752(7)) or any credit union that is eligible to apply to become an insured credit union under section 201 of such Act (12 U.S.C. 1781); (iv) Any member as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422(4)); and (v) Any insured institution as defined in section 401 of the National Housing Act (12 U.S.C. 1724(a)) or any institution which is eligible to apply to become an insured institution under section 403 of such Act (12 U.S.C. 1726). (2) Depository institution does not include international organizations such as the World Bank, the Inter-American Development Bank, and the Asian Development Bank. (n) Member bank means a depository institution that is a member of the Federal Reserve System. (o) Foreign bank means any bank or other similar institution organized under the laws of any country other than the United States or organized under the laws of Puerto Rico, Guam, American Samoa, the Virgin Islands, or other territory or possession of the United States. (p) [Reserved] (q) Affiliate includes any corporation, association, or other organization: (1) Of which a depository institution, directly or indirectly, owns or controls either a majority of the voting shares or more than 50 percent of the numbers of shares voted for the election of its directors, trustees, or other persons exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions; (2) Of which control is held, directly or indirectly, through stock ownership or in any other manner, by the shareholders of a depository institution who own or control either a majority of the shares of such depository institution or more than 50 percent of the number of shares voted for the election of directors of such depository institution at the preceding election, or by trustees for the benefit of the shareholders of any such depository institution; (3) Of which a majority of its directors, trustees, or other persons exercising similar functions are directors of any one depository institution; or (4) Which owns or controls, directly or indirectly, either a majority of the shares of capital stock of a depository institution or more than 50 percent of the number of shares voted for the election of directors, trustees or other persons exercising similar functions of a depository institution at the preceding election, or controls in any manner the election of a majority of the directors, trustees, or other persons exercising similar functions of a depository institution, or for the benefit of whose shareholders or members all or substantially all the capital stock of a depository institution is held by trustees. (r) United States means the States of the United States and the District of Columbia. (s) United States resident means (1) any individual residing (at the time of the transaction) in the United States; (2) any corporation, partnership, association or other entity organized in the United States (domestic corporation); and (3) any branch or office located in the United States of any entity that is not organized in the United States. [[Page 84]] (t) Any deposit that is payable only at an office located outside the United States means (1) a deposit of a United States resident \9\ that is in a denomination of $100,000 or more, and as to which the depositor is entitled, under the agreement with the institution, to demand payment only outside the United States or (2) a deposit of a person who is not a United States resident \9\ as to which the depositor is entitled, under the agreement with the institution, to demand payment only outside the United States. --------------------------------------------------------------------------- \9\ A deposit of a foreign branch, office, subsidiary, affiliate or other foreign establishment (foreign affiliate) controlled by one or more domestic corporations is not regarded as a deposit of a United States resident if the funds serve a purpose in connection with its foreign or international business or that of other foreign affiliates of the controlling domestic corporation(s). --------------------------------------------------------------------------- (u) Teller's check means a check drawn by a depository institution on another depository institution, a Federal Reserve Bank, or a Federal Home Loan Bank, or payable at or through a depository institution, a Federal Reserve Bank, or a Federal Home Loan Bank, and which the drawing depository institution engages or is obliged to pay upon dishonor. (v)-(x) [Reserved] (y) Eligible institution means-- (1) Any depository institution as described in Sec. 204.1(c) of this part; (2) Any trust company; (3) Any corporation organized under section 25A of the Federal Reserve Act (12 U.S.C. 611 et seq.) or having an agreement with the Board under section 25 of the Federal Reserve Act (12 U.S.C. 601 et seq.); and (4) Any branch or agency of a foreign bank (as defined in section 1(b) of the International Banking Act of 1978, 12 U.S.C. 3101(b)). (z) Excess balance means the average balance maintained in an account at a Federal Reserve Bank by or on behalf of an institution over a reserve maintenance period that exceeds the top of the penalty-free band. (aa) Excess balance account means an account at a Reserve Bank pursuant to Sec. 204.10(d) of this chapter that is established by one or more eligible institutions through an agent and in which only balances of the participating eligible institutions may at any time be maintained. An excess balance account is not a ``pass-through account'' for purposes of this part. (bb) Balance maintained to satisfy a reserve balance requirement means the average balance held in an account at a Federal Reserve Bank by or on behalf of an institution over a reserve maintenance period to satisfy a reserve balance requirement of this part. (cc) Targeted federal funds rate means the federal funds rate established from time to time by the Federal Open Market Committee. (dd) Term deposit means those funds of an eligible institution that are maintained by that institution for a specified maturity at a Federal Reserve Bank pursuant to section 204.10(e) of this part. (ee) Reserve balance requirement means the balance that a depository institution is required to maintain on average over a reserve maintenance period in an account at a Federal Reserve Bank if vault cash does not fully satisfy the depository institution's reserve requirement imposed by this part. (ff) Deficiency means the bottom of the penalty-free band less the average balance maintained in an account at a Federal Reserve Bank by or on behalf of an institution over a reserve maintenance period. (gg) Top of the penalty-free band means an amount equal to an institution's reserve balance requirement plus an amount that is the greater of 10 percent of the institution's reserve balance requirement or $50,000. The top of the penalty-free band for a pass-through correspondent is an amount equal to the aggregate reserve balance requirement of the correspondent (if any) and all of its respondents plus an amount that is the greater of 10 percent of that aggregate reserve balance requirement or $50,000. (hh) Bottom of the penalty-free band means an amount equal to an institution's reserve balance requirement less an amount that is the greater of 10 percent of the institution's reserve balance requirement or $50,000. The bottom of the penalty-free band for a pass-through correspondent is an amount equal to the aggregate reserve balance [[Page 85]] requirement of the correspondent (if any) and all of its respondents less an amount that is the greater of 10 percent of that aggregate reserve balance requirement or $50,000. In no case will the penalty-free band be less than zero. [Reg. D, 45 FR 56018, Aug. 22, 1980] Editorial Note: For Federal Register citations affecting Sec. 204.2, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Sec. 204.3 Reporting and location. (a) Every depository institution, U.S. branch or agency of a foreign bank, and Edge or Agreement corporation shall file a report of deposits (or any other form or statement that may be required by the Board or by a Federal Reserve Bank) with the Federal Reserve Bank in the Federal Reserve District in which it is located, regardless of the manner in which it chooses to maintain required reserve balances. (b) A foreign bank's U.S. branches and agencies and an Edge or Agreement corporation's offices operating within the same State and the same Federal Reserve District shall prepare and file a report of deposits on an aggregated basis. (c) For purposes of this part, the obligations of a majority-owned (50 percent or more) U.S. subsidiary (except an Edge or Agreement corporation) of a depository institution shall be regarded as obligations of the parent depository institution. (d) A depository institution, a foreign bank, or an Edge or Agreement corporation shall, if possible, assign the low reserve tranche and reserve requirement exemption prescribed in Sec. 204.4(f) to only one office or to a group of offices filing a single aggregated report of deposits. The amount of the reserve requirement exemption allocated to an office or group of offices may not exceed the amount of the low reserve tranche allocated to such office or offices. If the low reserve tranche or reserve requirement exemption cannot be fully utilized by a single office or by a group of offices filing a single report of deposits, the unused portion of the tranche or exemption may be assigned to other offices or groups of offices of the same institution until the amount of the tranche (or net transaction accounts) or exemption (or reservable liabilities) is exhausted. The tranche or exemption may be reallocated each year concurrent with implementation of the indexed tranche and exemption, or, if necessary during the course of the year to avoid underutilization of the tranche or exemption, at the beginning of a reserve computation period. (e) Computation of transaction accounts. Overdrafts in demand deposit or other transaction accounts are not to be treated as negative demand deposits or negative transaction accounts and shall not be netted since overdrafts are properly reflected on an institution's books as assets. However, where a customer maintains multiple transaction accounts with a depository institution, overdrafts in one account pursuant to a bona fide cash management arrangement are permitted to be netted against balances in other related transaction accounts for reserve requirement purposes. (f) The Board and the Federal Reserve Banks will not hold a pass- through correspondent responsible for guaranteeing the accuracy of the reports of deposits submitted by its respondents. (g)(1) For purposes of this section, a depository institution, a U.S. branch or agency of a foreign bank, or an Edge or Agreement corporation is located in the Federal Reserve District that contains the location specified in the institution's charter, organizing certificate, license, or articles of incorporation, or as specified by the institution's primary regulator, or if no such location is specified, the location of its head office, unless otherwise determined by the Board under paragraph (g)(2) of this section. (2) If the location specified in paragraph (g)(1) of this section, in the Board's judgment, is ambiguous, would impede the ability of the Board or the Federal Reserve Banks to perform their functions under the Federal Reserve Act, or would impede the ability of the institution to operate efficiently, the Board will determine the Federal Reserve District in which the [[Page 86]] institution is located, after consultation with the institution and the relevant Federal Reserve Banks. The relevant Federal Reserve Banks are the Federal Reserve Bank whose District contains the location specified in paragraph (g)(1) of this section and the Federal Reserve Bank in whose District the institution is proposed to be located. In making this determination, the Board will consider any applicable laws, the business needs of the institution, the location of the institution's head office, the locations where the institution performs its business, and the locations that would allow the institution, the Board, and the Federal Reserve Banks to perform their functions efficiently and effectively. [45 FR 56018, Aug. 22, 1980] Editorial Note: For Federal Register citations affecting Sec. 204.3, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Sec. 204.4 Computation of required reserves. (a) In determining the reserve requirement under this part, the amount of cash items in process of collection and balances subject to immediate withdrawal due from other depository institutions located in the United States (including such amounts due from United States branches and agencies of foreign banks and Edge and Agreement corporations) may be deducted from the amount of gross transaction accounts. The amount that may be deducted may not exceed the amount of gross transaction accounts. (b) United States branches and agencies of a foreign bank may not deduct balances due from another United States branch or agency of the same foreign bank, and United States offices of an Edge or Agreement Corporation may not deduct balances due from another United States office of the same Edge or Agreement Corporation. (c) Balances ``due from other depository institutions'' do not include balances due from Federal Reserve Banks, pass-through accounts, or balances (payable in dollars or otherwise) due from banking offices located outside the United States. An institution exercising fiduciary powers may not include in balances ``due from other depository institutions'' amounts of trust funds deposited with other banks and due to it as a trustee or other fiduciary. (d) For institutions that file a report of deposits weekly, reserve requirements are computed on the basis of the institution's daily average balances of deposits and Eurocurrency liabilities during a 14- day computation period ending every second Monday. (e) For institutions that file a report of deposits quarterly, reserve requirements are computed on the basis of the institution's daily average balances of deposits and Eurocurrency liabilities during the 7-day computation period that begins on the third Tuesday of March, June, September, and December. (f) For all depository institutions, Edge and Agreement corporations, and United States branches and agencies of foreign banks, required reserves are computed by applying the reserve requirement ratios in table 1 to this paragraph (f) to net transaction accounts, nonpersonal time deposits, and Eurocurrency liabilities of the institution during the computation period. Table 1 to Paragraph (f) ------------------------------------------------------------------------ Reservable liability Reserve requirement ------------------------------------------------------------------------ Net Transaction Accounts: $0 to reserve requirement exemption 0 percent of amount. amount ($32.4 million). Over reserve requirement exemption 0 percent of amount. amount ($32.4 million) and up to low reserve tranche ($640.6 million). Over low reserve tranche ($640.6 $0 plus 0 percent of amount million). over $640.6 million. Nonpersonal time deposits.......... 0 percent. Eurocurrency liabilities........... 0 percent. ------------------------------------------------------------------------ [Reg. D, 74 FR 25637, May 29, 2009] Editorial Note: For Federal Register citations affecting Sec. 204.4, see the List of CFR [[Page 87]] Sections Affected, which appears in the Finding Aids section of the printed volume and at www.fdsys.gov. Effective Date Note: At 87 FR 73634, Dec. 1, 2022, Sec. 204.4 was amended by revising paragraph (f), effective Jan. 3, 2023. For the convenience of the user, the revised text is set forth as follows: Sec. 204.4 Computation of required reserves. * * * * * (f) For all depository institutions, Edge and Agreement corporations, and United States branches and agencies of foreign banks, required reserves are computed by applying the reserve requirement ratios in table 1 to this paragraph (f) to net transaction accounts, nonpersonal time deposits, and Eurocurrency liabilities of the institution during the computation period. Table 1 to Paragraph (f) ------------------------------------------------------------------------ Reservable liability Reserve requirement ------------------------------------------------------------------------ Net Transaction Accounts: $0 to reserve requirement exemption amount 0 percent of amount. ($36.1 million). Over reserve requirement exemption amount 0 percent of amount. ($36.1 million) and up to low reserve tranche ($691.7 million). Over low reserve tranche ($691.7 million)... $0 plus 0 percent of amount over $691.7 million. Nonpersonal time deposits................... 0 percent. Eurocurrency liabilities.................... 0 percent. ------------------------------------------------------------------------ Sec. 204.5 Maintenance of required reserves. (a)(1) A depository institution, a U.S. branch or agency of a foreign bank, and an Edge or Agreement corporation shall satisfy reserve requirements by maintaining vault cash and, if vault cash does not fully satisfy the institution's reserve requirement, in the form of a balance maintained (i) In the institution's account at the Federal Reserve Bank in the Federal Reserve District in which the institution is located, or (ii) With a pass-through correspondent in accordance with Sec. 204.5(d). (2) Each individual institution subject to this part is responsible for satisfying its reserve balance requirement, if any, either directly with a Federal Reserve Bank or through a pass-through correspondent. (b)(1) For institutions that file a report of deposits weekly, the balances maintained to satisfy reserve balance requirements shall be maintained during a 14-day maintenance period that begins on the third Thursday following the end of a given computation period. (2) For institutions that file a report of deposits quarterly, the balances maintained to satisfy reserve balance requirements shall be maintained during an interval of either six or seven consecutive 14-day maintenance periods, depending on when the interval begins and ends. The interval will begin on the fourth Thursday following the end of each quarterly reporting period if that Thursday is the first day of a 14-day maintenance period. If the fourth Thursday following the end of a quarterly reporting period is not the first day of a 14-day maintenance period, then the interval will begin on the fifth Thursday following the end of the quarterly reporting period. The interval will end on the fourth Wednesday following the end of the subsequent quarterly reporting period if that Wednesday is the last day of a 14-day maintenance period. If the fourth Wednesday following the end of the subsequent quarterly reporting period is not the last day of a 14-day maintenance period, then the interval will conclude on the fifth Wednesday following the end of the subsequent quarterly reporting period. (c) Cash items forwarded to a Federal Reserve Bank for collection and credit are not included in an institution's balance maintained to satisfy its reserve balance requirement until the expiration of the time specified in the appropriate time schedule established under Regulation J, ``Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through [[Page 88]] Fedwire'' (12 CFR part 210). If a depository institution draws against items before that time, the charge will be made to its account if the balance is sufficient to pay it; any resulting deficiency in balances maintained to satisfy the institution's reserve balance requirement will be subject to the penalties provided by law and to the deficiency charges provided by this part. However, the Federal Reserve Bank may, at its discretion, refuse to permit the withdrawal or other use of credit given in an account for any time for which the Federal Reserve Bank has not received payment in actually and finally collected funds. (d)(1) A depository institution, a U.S. branch or agency of a foreign bank, or an Edge or Agreement corporation with a reserve balance requirement (``respondent'') may select only one pass-through correspondent under this section, unless otherwise permitted by the Federal Reserve Bank in whose District the respondent is located. Eligible pass-through correspondents are Federal Home Loan Banks, the National Credit Union Administration Central Liquidity Facility, and depository institutions, U.S. branches or agencies of foreign banks, and Edge and Agreement corporations that maintain balances to satisfy their own reserve balance requirements which may be zero, in an account at a Federal Reserve Bank. In addition, the Board reserves the right to permit other institutions, on a case-by-case basis, to serve as pass- through correspondents. (2) Respondents or correspondents may institute, terminate, or change pass-through correspondent agreements by providing all documentation required for the establishment of the new agreement or termination of or change to the existing agreement to the Federal Reserve Banks involved within the time period specified by those Reserve Banks. (3) Balances maintained to satisfy reserve balance requirements of a correspondent's respondents shall be maintained along with the balances maintained to satisfy a correspondent's reserve balance requirement (if any), in a single commingled account of the correspondent at the Federal Reserve Bank in whose District the correspondent is located. Balances maintained in the correspondent's account are the property of the correspondent and represent a liability of the Reserve Bank solely to the correspondent, regardless of whether the funds represent the balances maintained to satisfy the reserve balance requirement of a respondent. (4)(i) A pass-through correspondent shall be responsible for maintaining balances to satisfy its own reserve balance requirement (if any) and the reserve balance requirements of all of its respondents. A charge for any deficiency in the correspondent's account will be imposed by the Reserve Bank on the correspondent maintaining the account. (ii) Each correspondent is required to maintain detailed records for each of its respondents that permit Reserve Banks to determine whether the respondent has provided a sufficient funds to the correspondent to satisfy the reserve balance requirement of the respondent. The correspondent shall maintain such records and make such reports as the Board or Reserve Bank may requires in order to ensure the correspondent's compliance with its responsibilities under this section and shall make them available to the Board or Reserve Bank as required. (iii) The Federal Reserve Bank may terminate any pass-through agreement under which the correspondent is deficient in its recordkeeping or other responsibilities. (iv) Interest paid on supplemental reserves (if such reserves are required under Sec. 204.7) held by a respondent will be credited to the account maintained by the correspondent. [Reg. D, 74 FR 25638, May 29, 2009, as amended at 77 FR 21853, Apr. 12, 2012] Sec. 204.6 Charges for deficiencies. (a) Federal Reserve Banks are authorized to assess charges for deficiencies at a rate of 1 percentage point per year above the primary credit rate, as provided in Sec. 201.51(a) of this chapter, in effect for borrowings from the Federal Reserve Bank on the first day of [[Page 89]] the calendar month in which the deficiencies occurred. Charges shall be assessed on the basis of daily average deficiencies during each maintenance period. (b) Reserve Banks may waive the charges for deficiencies based on an evaluation of the circumstances in each individual case. (c) In individual cases, where a Federal supervisory authority waives a liquidity requirement, or waives the penalty for failing to satisfy a liquidity requirement, the Reserve Bank in the District where the involved depository institution is located shall waive the reserve requirement imposed under this part for such depository institution when requested by the Federal supervisory authority involved. (d) Violations of this part may be subject to assessment of civil money penalties by the Board under authority of Section 19(1) of the Federal Reserve Act (12 U.S.C. 505) as implemented in 12 CFR part 263. In addition, the Board and any other Federal financial institution supervisory authority may enforce this part with respect to depository institutions subject to their jurisdiction under authority conferred by law to undertake cease and desist proceedings. [Reg. D, 74 FR 25639, May 29, 2009, as amended at 77 FR 21854, Apr. 12, 2012] Sec. 204.7 Supplemental reserve requirement. (a) Finding by Board. Upon the affirmative vote of at least five members of the Board and after consultation with the Board of Directors of the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the National Credit Union Administration Board, the Board may impose a supplemental reserve requirement on every depository institution of not more than 4 percent of its total transaction accounts. A supplemental reserve requirement may be imposed if: (1) The sole purpose of the requirement is to increase the amount of reserves maintained to a level essential for the conduct of monetary policy; (2) The requirement is not imposed for the purpose of reducing the cost burdens resulting from the imposition of basic reserve requirements; (3) Such requirement is not imposed for the purpose of increasing the amount of balances needed for clearing purposes; and (4) On the date on which supplemental reserve requirements are imposed, the total amount of basic reserve requirements is not less than the amount of reserves that would be required on transaction accounts and nonpersonal time deposits under the initial reserve ratios established by the Monetary Control Act of 1980 (Pub. L. 96-221) in effect on September 1, 1980. (b) Term. (1) If a supplemental reserve requirement has been imposed for a period of one year or more, the Board shall review and determine the need for continued maintenance of supplemental reserves and shall transmit annual reports to the Congress regarding the need for continuing such requirement. (2) Any supplemental reserve requirement shall terminate at the close of the first 90-day period after the requirement is imposed during which the average amount of supplemental reserves required are less than the amount of reserves which would be required if the ratios in effect on September 1, 1980, were applied. (c) Earnings Participation Account. A depository institutions's supplemental reserve requirement shall be maintained by the Federal Reserve Banks in an Earnings Participation Account. Such balances shall receive earnings to be paid by the Federal Reserve Banks during each calendar quarter at a rate not to exceed the rate earned on the securities portfolio of the Federal Reserve System during the previous calendar quarter. Additional rules and regulations maybe prescribed by the Board concerning the payment of earnings on Earnings Participation Accounts by Federal Reserve Banks. (d) Report to Congress. The Board shall transmit promptly to the Congress a report stating the basis for exercising its authority to require a supplemental reserve under this section. (e) Reserve requirements. At present, there are no supplemental reserve requirements imposed under this section. [45 FR 56018, Aug. 22, 1980, as amended at 45 FR 81537, Dec. 11, 1980. Redesignated at 74 FR 25639, May 29, 2009] [[Page 90]] Sec. 204.8 International banking facilities. (a) Definitions. For purposes of this part, the following definitions apply: (1) International banking facility or IBF means a set of asset and liability accounts segregated on the books and records of a depository institution, United States branch or agency of a foreign bank, or an Edge or Agreement Corporation that includes only international banking facility time deposits and international banking facility extensions of credit. (2) International banking facility time deposit or IBF time deposit means a deposit, placement, borrowing or similar obligation represented by a promissory note, acknowledgment of advance, or similar instrument that is not issued in negotiable or bearer form, and (i)(A) That must remain on deposit at the IBF at least overnight; and (B) That is issued to (1) Any office located outside the United States of another depository institution organized under the laws of the United States or of an Edge or Agreement Corporation; (2) Any office located outside the United States of a foreign bank; (3) A United States office or a non-United States office of the entity establishing the IBF; (4) Another IBF; or (5) A foreign national government, or an agency or instrumentality thereof, \10\ engaged principally in activities which are ordinarily performed in the United States by governmental entities; an international entity of which the United States is a member; or any other foreign international or supranational entity specifically designated by the Board;\11\ or --------------------------------------------------------------------------- \10\ Other than states, provinces, municipalities, or other regional or local governmental units or agencies or instrumentalities thereof. \11\ The designated entities are specified in 12 CFR 204.125. --------------------------------------------------------------------------- (ii) (A) That is payable (1) On a specified date not less than two business days after the date of deposit; (2) Upon expiration of a specified period of time not less than two business days after the date of deposit; or (3) Upon written notice that actually is required to be given by the depositor not less than two business days prior to the date of withdrawal; (B) That represents funds deposited to the credit of a non-United States resident or a foreign branch, office, subsidiary, affiliate, or other foreign establishment (foreign affiliate) controlled by one or more domestic corporations provided that such funds are used only to support the operations outside the United States of the depositor or of its affiliates located outside the United States; and (C) That is maintained under an agreement or arrangement under which no deposit or withdrawal of less than $100,000 is permitted, except that a withdrawal of less than $100,000 is permitted if such withdrawal closes an account. (3) International banking facility extension of credit or IBF loan means any transaction where an IBF supplies funds by making a loan, or placing funds in a deposit account. Such transactions may be represented by a promissory note, security, acknowledgment of advance, due bill, repurchase agreement, or any other form of credit transaction. Such credit may be extended only to: (i) Any office located outside the United States of another depository institution organized under the laws of the United States or of an Edge or Agreement Corporation; (ii) Any office located outside the United States of a foreign bank; (iii) A United States or a non-United States office of the institution establishing the IBF; (iv) Another IBF; (v) A foreign national government, or an agency or instrumentality thereof, \12\ engaged principally in activities which are ordinarily performed in the United States by governmental entities; an international entity of which the United States is a member; or any other foreign international or supranational entity specifically designated by the Board; \13\ or --------------------------------------------------------------------------- \12\ See footnote 10. \13\ See footnote 11. --------------------------------------------------------------------------- [[Page 91]] (vi) A non-United States resident or a foreign branch, office, subsidiary, affiliate or other foreign establishment (foreign affiliate) controlled by one or more domestic corporations provided that the funds are used only to finance the operations outside the United States of the borrower or of its affiliates located outside the United States. (b) Acknowledgment of use of IBF deposits and extensions of credit. An IBF shall provide written notice to each of its customers (other than those specified in Sec. 204.8(a)(2)(i)(B) and Sec. 204.8(a)(3) (i) through (v)) at the time a deposit relationship or a credit relationship is first established that it is the policy of the Board of Governors of the Federal Reserve System that deposits received by international banking facilities may be used only to support the depositor's operations outside the United States as specified in Sec. 204.8(a)(2)(ii)(B) and that extensions of credit by IBFs may be used only to finance operations outside of the United States as specified in Sec. 204.8(a)(3)(vi). In the case of loans to or deposits from foreign affiliates of U.S. residents, receipt of such notice must be acknowledged in writing whenever a deposit or credit relationship is first established with the IBF. (c) Exemption from reserve requirements. An institution that is subject to the reserve requirements of this part is not required to maintain reserves against its IBF time deposits or IBF loans. Deposit- taking activities of IBFs are limited to accepting only IBF time deposits and lending activities of IBFs are restricted to making only IBF loans. (d) Establishment of an international banking facility. A depository institution, an Edge or Agreement Corporation or a United States branch or agency of a foreign bank may establish an IBF in any location where it is legally authorized to engage in IBF business. However, only one IBF may be established for each reporting entity that is required to submit a Report of Transaction Accounts, Other Deposits and Vault Cash (Form FR 2900). (e) Notification to Federal Reserve. At least fourteen days prior to the first reserve computation period that an institution intends to establish an IBF it shall notify the Federal Reserve Bank of the district in which it is located of its intent. Such notification shall include a statement of intention by the institution that it will comply with the rules of this part concerning IBFs, including restrictions on sources and uses of funds, and recordkeeping and accounting requirements. Failure to comply with the requirements of this part shall subject the institution to reserve requirements under this part or result in the revocation of the institution's ability to operate an IBF. (f) Recordkeeping requirements. A depository institution shall segregate on its books and records the asset and liability accounts of its IBF and submit reports concerning the operations of its IBF as required by the Board. [46 FR 32429, June 23, 1981, as amended at 51 FR 9636, Mar. 20, 1986; 56 FR 15495, Apr. 17, 1991; 61 FR 69025, Dec. 31, 1996] Sec. 204.9 Emergency reserve requirement. (a) Finding by Board. The Board may impose, after consulting with the appropriate committees of Congress, additional reserve requirements on depository institutions at any ratio on any liability upon a finding by at least five members of the Board that extraordinary circumstances require such action. (b) Term. Any action taken under this section shall be valid for a period not exceeding 180 days, and may be extended for further periods of up to 180 days each by affirmative action of at least five members of the Board for each extension. (c) Reports to Congress. The Board shall transmit promptly to Congress a report of any exercise of its authority under this paragraph and the reasons for the exercise of authority. (d) Reserve requirements. At present, there are no emergency reserve requirements imposed under this section. [45 FR 56018, Aug. 22, 1980. Redesignated at 74 FR 25638, May 29, 2009] Sec. 204.10 Payment of interest on balances. (a) General. (1) Except as provided in paragraph (c) of this section, interest [[Page 92]] on balances maintained at Federal Reserve Banks by or on behalf of an eligible institution shall be established by the Board in accordance with this section, at a rate or rates not to exceed the general level of short-term interest rates. (2) For purposes of this section, the amount of a ``balance'' in an account maintained by or on behalf of an eligible institution at a Federal Reserve Bank is determined at the close of the Federal Reserve Bank's business day. (3) For purposes of this section, ``short-term interest rates'' are rates on obligations with maturities of no more than one year, such as the primary credit rate and rates on term federal funds, term repurchase agreements, commercial paper, term Eurodollar deposits, and other similar instruments. (4) The payment of interest on balances under this section shall be subject to such other terms and conditions as the Board may prescribe. (b) Payment of interest. Interest on balances maintained at Federal Reserve Banks by or on behalf of an eligible institution is established as set forth in paragraphs (b)(1) and (2) of this section. (1) For balances maintained in an eligible institution's master account, interest is the amount equal to the interest on reserve balances rate (``IORB rate'') on a day multiplied by the total balances maintained on that day. The IORB rate is 3.90 percent. (2) For term deposits, interest is: (i) The amount equal to the principal amount of the term deposit multiplied by a rate specified in advance by the Board, in light of existing short-term market rates, to maintain the federal funds rate at a level consistent with monetary policy objectives; or (ii) The amount equal to the principal amount of the term deposit multiplied by a rate determined by the auction through which such term deposits are offered. (3) For purposes of Sec. 204.10(b), a ``master account'' is the record maintained by a Federal Reserve Bank of the debtor-creditor relationship between the Federal Reserve Bank and a single eligible institution with respect to deposit balances of the eligible institution that are maintained with the Federal Reserve Bank. A ``master account'' is not a ``term deposit,'' an ``excess balance account,'' a ``joint account,'' or any deposit account maintained with a Federal Reserve Bank governed by an agreement that states the account is not a master account. (c) Pass-through balances. A pass-through correspondent that is an eligible institution may pass back to its respondent interest paid on balances maintained to satisfy a reserve balance requirement of that respondent. In the case of balances maintained by a pass-through correspondent that is not an eligible institution, a Reserve Bank may pay interest only on the balances maintained to satisfy a reserve balance requirement of one or more respondents up to the top of the penalty-free band, and the correspondent shall pass back to its respondents interest paid on balances in the correspondent's account. (d) Excess balance accounts. (1) A Reserve Bank may establish an excess balance account for eligible institutions under the provisions of this paragraph (d). Notwithstanding any other provisions of this part, the balances maintained by eligible institutions in an excess balance account represent a liability of the Reserve Bank solely to those participating eligible institutions. (2) The participating eligible institutions in an excess balance account shall authorize another institution to act as agent of the participating institutions for purposes of general account management, including but not limited to transferring the balances of participating institutions in and out of the excess balance account. An excess balance account must be established at the Reserve Bank where the agent maintains its master account, unless otherwise determined by the Board. The agent may not commingle its own funds in the excess balance account. (3) Balances maintained in an excess balance account may not be used for general payments or other activities. (4) Interest on balances of eligible institutions maintained in an excess balance account is the amount equal to [[Page 93]] the IORB rate in effect on a day multiplied by the total balances maintained on that day. (5) A Reserve Bank may establish additional terms and conditions consistent with this part with respect to the operation of an excess balance account, including, but not limited to, terms of and fees for services, conditions under which an institution may act as agent for an account, restrictions on the agent with respect to account management, penalties for noncompliance with this section or any terms and conditions, and account termination. (e) Term deposits. (1) A Federal Reserve Bank may accept term deposits from eligible institutions under the provisions of this paragraph (e) subject to such terms and conditions as the Board may establish from time to time, including but not limited to conditions regarding the maturity of the term deposits being offered, maximum and minimum amounts that may be maintained by an eligible institution in a term deposit, the interest rate or rates offered, early withdrawal of term deposits, pledging term deposits as collateral and, if term deposits are offered through an auction mechanism, the size of the offering, maximum and minimum bid amounts, and other relevant terms. (2) A term deposit will not satisfy any institution's reserve balance requirement. (3) A term deposit may not be used for general payments or settlement activities. (f) Procedure for determination of rates. The Board anticipates that notice and public participation with respect to changes in the rate or rates of interest to be paid under this section will generally be impracticable, unnecessary, contrary to the public interest, or otherwise not required in the public interest, and that there will generally be reason and good cause in the public interest why the effective date should not be deferred for 30 days. The reason or reasons in such cases are generally expected to include that such notice, public participation, or deferment of effective date would prevent the action from becoming effective as promptly as necessary in the public interest, would permit speculators or others to reap unfair profits or to interfere with the Board's actions taken with a view to accommodating commerce and business and with regard to their bearing upon the general credit situation of the country, would provoke other consequences contrary to the public interest, would not aid the persons affected, or would otherwise serve no useful purpose. [Reg. D, 74 FR 25629, May 29, 2009] Editorial Note: For Federal Register citations affecting Sec. 204.10, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.fdsys.gov. Interpretations Sec. 204.121 Bankers' banks. (a)(1) The Federal Reserve Act, as amended by the Monetary Control Act of 1980 (title I of Pub. L. 96-221), imposes Federal reserve requirements on depository institutions that maintain transaction accounts or nonpersonal time deposits. Under section 19(b)(9), however, a depository institution is not required to maintain reserves if it: (i) Is organized solely to do business with other financial institutions; (ii) Is owned primarily by the financial institutions with which it does business; and (iii) Does not do business with the general public. Depository institutions that satisfy all of these requirements are regarded as bankers' banks. (2) In its application of these requirements to specific institutions, the Board will use the following standards: (i) A depository institution may be regarded as organized solely to do business with other depository institutions even if, as an incidental part to its activities, it does business to a limited extent with entities other than depository institutions. The extent to which the institution may do business with other entities and continue to be regarded as a bankers' bank is specified in paragraph (a)(2)(iii) of this section. (ii) A depository institution will be regarded as being owned primarily by the institutions with which it does business if 75 per cent or more of its capital is owned by other depository [[Page 94]] institutions. The 75 per cent or more ownership rule applies regardless of the type of depository institution. (iii) A depository institution will not be regarded as doing business with the general public if it meets two conditions. First, the range of customers with which the institution does business must be limited to depository institutions, including subsidiaries or organizations owned by depository institutions; directors, officers or employees of the same or other depository institutions; individuals whose accounts are acquired at the request of the institution's supervisory authority due to the actual or impending failure of another depository institution; share insurance funds; depository institution trade associations; and such others as the Board may determine on a case-by-case basis consistent with the purposes of the Act and the bankers' bank exemption. Second, the extent to which the depository institution makes loans to, or investments in, the above entities (other than depository institutions) cannot exceed 10 per cent of total assets, and the extent to which it receives deposits (or shares if the institution does not receive deposits) from or issues other liabilities to the above entities (other than depository institutions) cannot exceed 10 per cent of total liabilities (or net worth if the institution does not receive deposits). If a depository institution is unable to meet all of these requirements on a continuing basis, it will not be regarded as a bankers' bank and will be required to satisfy Federal reserve requirements on all of its transaction accounts and nonpersonal time deposits. (b) (1) Section 19(c)(1) of the Federal Reserve Act, as amended by the Monetary Control Act of 1980 (title I of Pub. L. 96-221) provides that Federal reserve requirements may be satisfied by the maintenance of vault cash or balances in a Federal Reserve Bank. Depository institutions that are not members of the Federal Reserve System may also satisfy reserve requirements by maintaining a balance in another depository institution that maintains required reserve balances at a Federal Reserve Bank, in a Federal Home Loan Bank, or in the National Credit Union Administration Central Liquidity Facility if the balances maintained by such institutions are subsequently passed through to the Federal Reserve Bank. (2) On August 27, 1980, the Board announced the procedures that will apply to such pass-through arrangements (45 FR 58099). Section 204.3(i)(1) provides that the Board may permit, on a case-by-case basis, depository institutions that are not themselves required to maintain reserves (bankers' banks) to act as pass-through correspondents if certain criteria are satisfied. The Board has determined that a bankers' bank may act as a pass-through correspondent if it enters into an agreement with the Federal Reserve to accept responsibility for the maintenance of pass-through reserve accounts in accordance with Regulation D (12 CFR 204.3(i)) and if the Federal Reserve is satisfied that the quality of management and financial resources of the institution are adequate in order to enable the institution to serve as a pass-through correspondent in accordance with Regulation D. Satisfaction of these criteria will assure that pass-through arrangements are maintained properly without additional financial risk to the Federal Reserve. (3) In order to determine uniformly the adequacy of managerial and financial resources, the Board will consult with the Federal supervisor for the type of institution under consideration. Because the Board does not possess direct experience with supervising depository institutions other than commercial banks, and does not intend to involve itself in the direct supervision of such institutions, it will request the National Credit Union Administration to review requests from credit unions that qualify as bankers' banks and the Federal Home Loan Bank Board to review requests from savings and loan associations that qualify as bankers' banks, regardless of charter or insurance status. (The Board, itself, will consider requests from all commercial banks that qualify as bankers' banks.) If the Federal supervisor does not find the institution's managerial or financial resources to be adequate, the Board will not permit the institution to act as a pass-through correspondent. In order to assure the continued adequacy of managerial and [[Page 95]] financial resources, it is anticipated that the appropriate Federal supervisor will, on a periodic basis, review and evaluate the managerial and financial resources of the institution in order to determine whether it should continue to be permitted to act as a pass-through correspondent. It is anticipated that, with respect to state chartered institutions, the Federal supervisor may discuss the request with the institute State supervisor. The Board believes that this procedure will promote uniformity of treatment for all types of bankers' banks, and provide consistent advice concerning managerial ability and financial strength from supervisory authorities that are in a better position to evaluate these criteria for depository institutions that are not commercial banks. (4) Requests for a determination as to whether a depository institution will be regarded as a bankers' bank for purposes of the Federal Reserve Act or for permission to act as a pass-through correspondent may be addressed to the Federal Reserve Bank in whose District the main office of the depository institution is located or to the Secretary, Board of Governors of the Federal Reserve System, Washington, DC 20551. The Board will act promptly on all requests received directly or through Federal Reserve Banks. [45 FR 69879, Oct. 22, 1980, as amended by Reg. D, 72 FR 16990, Apr. 6, 2007] Sec. 204.122 Secondary market activities of international banking facilities. (a) Questions have been raised concerning the extent to which international banking facilities may purchase (or sell) IBF-eligible assets such as loans (including loan participations), securities, CDs, and bankers' acceptances from (or to) third parties. Under the Board's regulations, as specified in Sec. 204.8 of Regulation D, IBFs are limited, with respect to making loans and accepting deposits, to dealing only with certain customers, such as other IBFs and foreign offices of other organizations, and with the entity establishing the IBF. In addition, an IBF may extend credit to a nonbank customer only to finance the borrower's non-U.S. operations and may accept deposits from a nonbank customer that are used only to support the depositor's non-U.S. business. (b) Consistent with the Board's intent, IBFs may purchase IBF- eligible assets \1\ from, or sell such assets to, any domestic or foreign customer provided that the transactions are at arm's length without recourse. However, an IBF of a U.S. depository institution may not purchase assets from, or sell such assets to, any U.S. affiliate of the institution establishing the IBF; an IBF of an Edge or Agreement corporation may not purchase assets from, or sell assets to, any U.S. affiliate of the Edge or Agreement corporation or to U.S. branches of the Edge or Agreement corporation or to U.S. branches of the Edge or Agreement corporation other than the branch \2\ establishing the IBF; and an IBF of a U.S. branch or agency of a foreign bank may not purchase assets from, or sell assets to any U.S. affiliates of the foreign bank or to any other U.S. branch or agency of the same foreign bank. \2\ (This would not prevent an IBF from purchasing (or selling) assets directly from (or to) any IBF, including an IBF of an affiliate, or to the institution establishing the IBF; such purchases from the institution establishing the IBF would continue to be subject to Eurocurrency reserve requirements except during the initial four-week transition period.) Since repurchase agreements are regarded as loans, transactions involving repurchase agreements are permitted only with customers who are otherwise eligible to deal with IBFs, as specified in Regulation D. --------------------------------------------------------------------------- \1\ In order for an asset to be eligible to be held by an IBF, the obligor or issuer of the instrument, or in the case of bankers' acceptances, the customer and any endorser or acceptor, must be an IBF- eligible customer. \2\ Branches of Edge or Agreement corporations and agencies and branches of foreign banks that file a consolidated report for reserve requirements purposes (FR 2900) are considered to be the establishing entity of an IBF. --------------------------------------------------------------------------- (c) In the case of purchases of assets, in order to determine that the Board's use-of-proceeds requirement has been met, it is necessary for the IBF (1) to ascertain that the applicable IBF notices and acknowledgments have been provided, or (2) in the case of loans or [[Page 96]] securities, to review the documentation underlying the loan or security, or accompanying the security (e.g., the prospectus or offering statement), to determine that the proceeds are being used only to finance the obligor's operations outside the U.S., or (3) in the case of loans, to obtain a statement from either the seller or borrower that the proceeds are being used only to finance operations outside the U.S., or in the case of securities, to obtain such a statement from the obligor, or (4) in the case of bankers' acceptances, to review the underlying documentation to determine that the proceeds are being used only to finance the parties' operations outside the United States. (d) Under the Board's regulations, IBFs are not permitted to issue negotiable Euro-CDs, bankers' acceptances, or similar instruments. Accordingly, consistent with the Board's intent in this area, IBFs may sell such instruments issued by third parties that qualify as IBF- eligible assets provided that the IBF, its establishing institution and any affiliate of the institution establishing the IBF do not endorse, accept, or otherwise guarantee the instrument. [46 FR 62812, Dec. 29, 1981, as amended at 52 FR 47694, Dec. 16, 1987] Sec. 204.123 Sale of Federal funds by investment companies or trusts in which the entire beneficial interest is held exclusively by depository institutions. (a) The Federal Reserve Act, as amended by the Monetary Control Act of 1980 (Title I of Pub. L. 96-221) imposes Federal Reserve requirements on transaction accounts and nonpersonnel time deposits held by depository institutions. The Board is empowered under the Act to determine what types of obligations shall be deemed a deposit. Regulation D--Reserve Requirements of Depository Institutions exempts from the definition of deposit those obligations of a depository institution that are issued or undertaken and held for the account of a domestic office of another depository institution (12 CFR 204.2(a)(1)(vii)(A)(1)). These exemptions from the definition of deposit are known collectively as the Federal funds or interbank exemption. (b) Title IV of the Depository Institutions Deregulation and Monetary Control Act of 1980 authorizes Federal savings and loan associations to invest in open-ended management investment companies provided the funds' investment portfolios are limited to the types of investments that a Federal savings and loan association could hold without limit as to percentage of assets (12 U.S.C. 1464(c)(1)(Q)). Such investments include mortgages, U.S. Government and agency securities, securities of states and political subdivisions, sales of Federal funds and deposits held at banks insured by the Federal Deposit Insurance Corporation. The Federal Credit Union Act authorizes Federal credit unions to aggregate their funds in trusts provided the trust is limited to such investments that Federal credit unions could otherwise make. Such investments include loans to credit union members, obligations of the U.S. government or secured by the U.S. government, loans to other credit unions, shares or accounts held at savings and loan associations or mutual savings banks insured by FSLIC or FDIC, sales of Federal funds and shares of any central credit union whose investments are specifically authorized by the board of directors of the Federal credit union making the investment (12 U.S.C. 1757(7)). (c) The Board has considered whether an investment company or trust whose entire beneficial interest is held by depository institutions, as defined in Regulation D, would be eligible for the Federal funds exemption from Reserve requirements and interest rate limitations. The Board has determined that such investment companies or trusts are eligible to participate in the Federal funds market because, in effect, they act as mere conduits for the holders of their beneficial interest. To be regarded by the Board as acting as a conduit and, thus, be eligible for participation in the Federal funds market, an investment company or trust must meet each of the following conditions: (1) The entire beneficial interest in the investment company or trust must be held by depository institutions, as defined in Regulation D. These institutions presently may participate directly in the Federal funds market. If [[Page 97]] the entire beneficial interest in the investment company or trust is held only by depository institutions, the Board will regard the investment company or trust as a mere conduit for the holders of its beneficial interest. (2) The assets of the investment company or trust must be limited to investments that all of the holders of the beneficial interest could make directly without limit. (3) Holders of the beneficial interest in the investment company or trust must not be allowed to make third party payments from their accounts with the investment company or trust. The Board does not regard an investment company or trust that offers third party payment capabilities or other similar services which actively transform the nature of the funds passing between the holders of the beneficial interest and the Federal funds market as mere conduits. The Board expects that the above conditions will be included in materials filed by an investment company or trust with the appropriate regulatory agencies. (d) The Board believes that permitting sales of Federal funds by investment companies or trusts whose beneficial interests are held exclusively by depository institutions, that invest solely in assets that the holders of their beneficial interests can otherwise invest in without limit, and do not provide third party payment capabilities offer the potential for an increased yield for thrifts. This is consistent with Congressional intent to provide thrifts with convenient liquidity vehicles. [47 FR 8987, Mar. 3, 1982, as amended at 52 FR 47695, Dec. 16, 1987] Sec. 204.124 Repurchase agreement involving shares of a money market mutual fund whose portfolio consists wholly of United States Treasury and Federal agency securities. (a) The Federal Reserve Act, as amended by the Monetary Control Act of 1980 (title I of Pub. L. 96-221) imposes Federal reserve requirements on transaction accounts and nonpersonal time deposits held by depository institutions. The Board is empowered under the Act to determine what types of obligations shall be deemed a deposit (12 U.S.C. 461). Regulation D--Reserve Requirements of Depository Institutions exempts from the definition of deposit those obligations of a depository institution that arise from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States government or any agency thereof that the depository institution is obligated to repurchase (12 CFR 204.2(a)(1)(vii)(B)). (b) The National Bank Act provides that a national bank may purchase for its own account investment securities under limitations and restrictions as the Comptroller may prescribe (12 U.S.C. 24, ] 7). The statute defines investment securities to mean marketable obligations evidencing indebtedness of any person in the form of bonds, notes, and debentures. The Act further limits a national bank's holdings of any one security to no more than an amount equal to 10 percent of the bank's capital stock and surplus. However, these limitations do not apply to obligations issued by the United States, general obligations of any state and certain obligations of Federal agencies. In addition, generally a national bank is not permitted to purchase for its own account stock of any corporation. These restrictions also apply to state member banks (12 U.S.C. 335). (c) The Comptroller of the Currency has permitted national banks to purchase for their own accounts shares of open-end investment companies that are purchased and sold at par (i.e., money market mutual funds) provided the portfolios of such companies consist solely of securities that a national bank may purchase directly (Banking Bulletin B-83-58). The Board of Governors has permitted state member banks to purchase, to the extent permitted under applicable state law, shares of money market mutual funds (MMMF) whose portfolios consist solely of securities that the state member bank may purchase directly (12 CFR 208.123). (d) The Board has determined that an obligation arising from a repurchase agreement involving shares of a MMMF whose portfolio consists wholly [[Page 98]] of securities of the United States government or any agency thereof \1\ would not be a deposit for purposes of Regulations D and Q. The Board believes that a repurchase agreement involving shares of such a MMMF is the functional equivalent of a repurchase agreement directly involving United States government or agency obligations. A purchaser of shares of a MMMF obtains an interest in a pro rata portion of the assets that comprise the MMMF's portfolio. Accordingly, regardless of whether the repurchase agreement involves United States government or agency obligations directly or shares in a MMMF whose portfolio consists entirely of United States government or agency obligations, an equitable and undivided interest in United States and agency government obligations is being transferred. Moreover, the Board believes that this interpretation will further the purpose of the exemption in Regulations D and Q for repurchase agreements involving United States government or Federal obligations by enhancing the market for such obligations. --------------------------------------------------------------------------- \1\ The term United States government or any agency thereof as used herein shall have the same meaning as in Sec. 204.2(a)(1)(vii)(B) of Regulation D, 12 CFR 204.2(a)(1)(vii)(B). [50 FR 13011, Apr. 2, 1985, as amended at 52 FR 47695, Dec. 16, 1987] Sec. 204.125 Foreign, international, and supranational entities referred to in Sec. Sec. 204.2(c)(1)(iv)(E) and 204.8(a)(2)(i)(B)(5). The entities referred to in Sec. Sec. 204.2(c)(1)(iv)(E) and 204.8(a)(2)(i)(B)(5) are: Europe Bank for International Settlements. European Atomic Energy Community. European Central Bank. European Coal and Steel Community. The European Communities. European Development Fund. European Economic Community. European Free Trade Association. European Fund. European Investment Bank. Latin America Andean Development Corporation. Andean Subregional Group. Caribbean Development Bank. Caribbean Free Trade Association Caribbean Regional Development Agency. Central American Bank for Economic Integration. The Central American Institute for Industrial Research and Technology. Central American Monetary Stabilization Fund. East Caribbean Common Market. Latin American Free Trade Association. Organization for Central American States. Permanent Secretariat of the Central American General Treaty of Economic Integration. River Plate Basin Commission. Africa African Development Bank. Banque Centrale des Etats de l'Afrique Equatorial et du Cameroun. Banque Centrale des Etats d'Afrique del'Ouest. Conseil de l'Entente. East African Community. Organisation Commune Africaine et Malagache. Organization of African Unity. Union des Etats de l'Afrique Centrale. Union Douaniere et Economique de l'Afrique Centrale. Union Douaniere des Etats de l'Afrique de l'Ouest. Asia Asia and Pacific Council. Association of Southeast Asian Nations. Bank of Taiwan. Korea Exchange Bank. Middle East Central Treaty Organization. Regional Cooperation for Development. [Reg. D, 52 FR 47695, Dec. 16, 1987, as amended at 56 FR 15495, Apr. 17, 1991; 65 FR 12917, Mar. 10, 2000] Sec. 204.126 Depository institution participation in ``Federal funds'' market. (a) Under Sec. 204.2(a)(1)(vii)(A), there is an exemption from Regulation D for member bank obligations in nondeposit form to another bank. To assure the effectiveness of the limitations on persons who sell Federal funds to depository institutions, Regulation D applies to nondocumentary obligations undertaken by a depository institution to obtain funds for use in its banking business, as well as to documentary obligations. Under Sec. 204.2(a)(1)(vii) of Regulation D, a depository institution's liability under informal arrangements as [[Page 99]] well as those formally embodied in a document are within the coverage of Regulation D. (b) The exemption in Sec. 204.2(a)(1)(vii)(A) applies to obligations owed by a depository institution to a domestic office of any entity listed in that section (the exempt institutions). The exempt institutions explicitly include another depository institution, foreign bank, Edge or agreement corporation, New York Investment (article XII) Company, the Export-Import Bank of the United States, Minbanc Capital Corp., and certain other credit sources. The term exempt institutions also includes subsidiaries of depository institutions: (1) That engage in businesses in which their parents are authorized to engage; or (2) The stock of which by statute is explicitly eligible for purchase by national banks. (c) To assure that this exemption for liabilities to exempt institutions is not used as a means by which nondepository institutions may arrange through an exempt institution to sell Federal funds to a depository institution, obligations within the exemption must be issued to an exempt institution for its own account. In view of this requirement, a depository institution that purchases Federal funds should ascertain the character (not necessarily the identity) of the actual seller in order to justify classification of its liability on the transaction as Federal funds purchased rather than as a deposit. Any exempt institution that has given general assurance to the purchasing depository institution that sales by it of Federal funds ordinarily will be for its own account and thereafter executes such transactions for the account of others, should disclose the nature of the actual lender with respect to each such transaction. If it fails to do so, the depository institution would be deemed by the Board as indirectly violating section 19 of the Federal Reserve Act and Regulation D. [52 FR 47695, Dec. 16, 1987] Sec. 204.127 Nondepository participation in ``Federal funds'' market. (a) The Board has considered whether the use of interdepository institution loan participations (IDLPs) which involve participation by third parties other than depository institutions in Federal funds transactions, comes within the exemption from deposit classification for certain obligations owed by a depository institution to an institution exempt in Sec. 204.2(a)(1)(vii)(A) of Regulation D. An IDLP transaction is one through which an institution that has sold Federal funds to a depository institution, subsequently sells or participates out that obligation to a nondepository third party without notifying the obligated institution. (b) The Board's interpretation regarding Federal funds transactions (12 CFR 204.126) clarified that a depository institutions's liability must be issued to an exempt institution described in Sec. 204.2(a)(1)(vii)(A) of Regulation D for its own account in order to come within the nondeposit exemption for interdepository liabilities. The Board regards transactions which result in third parties gaining access to the Federal funds market as contrary to the exemption contained in Sec. 204.2(a)(1)(vii)(A) of Regulation D regardless of whether the nondepository institution third party is a party to the initial transaction or thereafter becomes a participant in the transaction through purchase of all or part of the obligation held by the selling depository institution. (c) The Board regards the notice requirements set out in 12 CFR 204.126 as applicable to IDLP-type transactions as described herein so that a depository institution selling Federal funds must provide to the purchaser-- (1) Notice of its intention, at the time of the initial transaction, to sell or participate out its loan contract to a nondepository third party, and (2) Full and prompt notice whenever it (the selling depository institution) subsequently sells or participates out its loan contract to a non-depository third party. [52 FR 47695, Dec. 16, 1987] Sec. 204.128 Deposits at foreign branches guaranteed by domestic office of a depository institution. (a) In accepting deposits at branches abroad, some depository institutions may enter into agreements from time [[Page 100]] to time with depositors that in effect guarantee payment of such deposits in the United States if the foreign branch is precluded from making payment. The question has arisen whether such deposits are subject to Regulation D, and this interpretation is intended as clarification. (b) Section 19 of the Federal Reserve Act which establishes reserve requirements does not apply to deposits of a depository institution ``payable only at an office thereof located outside of the States of the United States and the District of Columbia'' (12 U.S.C. 371a; 12 CFR 204.1(c)(5)). The Board rule in 1918 that the requirements of section 19 as to reserves to be carried by member banks do not apply to foreign branches (1918 Fed. Res. Bull. 1123). The Board has also defined the phrase Any deposit that is payable only at an office located outside the United States, in Sec. 204.2(t) of Regulation D, 12 CFR 204.2(t). (c) The Board believes that this exemption from reserve requirements should be limited to deposits in foreign branches as to which the depositor is entitled, under his agreement with the depository institution, to demand payment only outside the United States, regardless of special circumstances. The exemption is intended principally to enable foreign branches of U.S. depository institutions to compete on a more nearly equal basis with banks in foreign countries in accordance with the laws and regulations of those countries. A customer who makes a deposit that is payable solely at a foreign branch of the depository institution assumes whatever risk may exist that the foreign country in which a branch is located might impose restrictions on withdrawals. When payment of a deposit in a foreign branch is guaranteed by a promise of payment at an office in the United States if not paid at the foreign office, the depositor no longer assumes this risk but enjoys substantially the same rights as if the deposit had been made in a U.S. office of the depository institution. To assure the effectiveness of Regulation D and to prevent evasions thereof, the Board considers that such guaranteed foreign-branch deposits must be subject to that regulation. (d) Accordingly, a deposit in a foreign branch of a depository institution that is guaranteed by a domestic office is subject to the reserve requirements of Regulation D the same as if the deposit had been made in the domestic office. This interpretation is not designed in any respect to prevent the head office of a U.S. bank from repaying borrowings from, making advances to, or supplying capital funds to its foreign branches, subject to Eurocurrency liability reserve requirements. [52 FR 47696, Dec. 16, 1987] Sec. 204.130 Eligibility for NOW accounts. (a) Summary. In response to many requests for rulings, the Board has determined to clarify the types of entities that may maintain NOW accounts at member banks. (b) Individuals. (1) Any individual may maintain a NOW account regardless of the purposes that the funds will serve. Thus, deposits of an individual used in his or her business including a sole proprietor or an individual doing business under a trade name is eligible to maintain a NOW account in the individual's name or in the ``DBA'' name. However, other entities organized or operated to make a profit such as corporations, partnerships, associations, business trusts, or other organizations may not maintain NOW accounts. (2) Pension funds, escrow accounts, security deposits, and other funds held under various agency agreements may also be classified as NOW accounts if the entire beneficial interest is held by individuals or other entities eligible to maintain NOW accounts directly. The Board believes that these accounts are similar in nature to trust accounts and should be accorded identical treatment. Therefore, such funds may be regarded as eligible for classification as NOW accounts. (c) Nonprofit organizations. (1) A nonprofit organization that is operated primarily for religious, philanthropic, charitable, educational, political or other similar purposes may maintain a NOW account. The Board regards the following kinds of organizations as eligible for NOW accounts under this standard if they are not operated for profit: [[Page 101]] (i) Organizations described in section 501(c)(3) through (13), and (19) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(3) through (13) and (19)); (ii) Political organizations described in section 527 of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 527); and (iii) Homeowners and condominium owners associations described in section 528 of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 528), including housing cooperative associations that perform similar functions. (2) All organizations that are operated for profit are not eligible to maintain NOW accounts at depository institutions. (3) The following types of organizations described in the cited provisions of the Internal Revenue Code are among those not eligible to maintain NOW accounts: (i) Credit unions and other mutual depository institutions described in section 501(c)(14) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(14)); (ii) Mutual insurance companies described in section 501(c)(15) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(15)); (iii) Crop financing organizations described in section 501(c)(16) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(16)); (iv) Organizations created to function as part of a qualified group legal services plan described in section 501(c)(20) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(20)); or (v) Farmers' cooperatives described in section 521 of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 521). (d) Governmental units. Governmental units are generally eligible to maintain NOW accounts at member banks. NOW accounts may consist of funds in which the entire beneficial interest is held by the United States, any State of the United States, county, municipality, or political subdivision thereof, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, Guam, any territory or possession of the United States, or any political subdivision thereof. (e) Funds held by a fiduciary. Under current provisions, funds held in a fiduciary capacity (either by an individual fiduciary or by a corporate fiduciary such as a bank trust department or a trustee in bankruptcy), including those awaiting distribution or investment, may be held in the form of NOW accounts if all of the beneficiaries are otherwise eligible to maintain NOW accounts. The Board believes that such a classification should continue since fiduciaries are required to invest even temporarily idle balances to the greatest extent feasible in order to responsibly carry out their fiduciary duties. The availability of NOW accounts provides a convenient vehicle for providing a short-term return on temporarily idle trust funds of beneficiaries eligible to maintain accounts in their own names. (f) Grandfather provision. In order to avoid unduly disrupting account relationships, a NOW account established at a member bank on or before August 31, 1981, that represents funds of a nonqualifying entity that previously qualified to maintain a NOW account may continue to be maintained in a NOW account. [52 FR 47697, Dec. 16, 1987] Sec. 204.131 Participation by a depository institution in the secondary market for its own time deposits. (a) Background. In 1982, the Board issued an interpretation concerning the effect of a member bank's purchase of its own time deposits in the secondary market in order to ensure compliance with regulatory restrictions on the payment of interest on time deposits, with the prohibition against payment of interest on demand deposits, and with regulatory requirements designed to distinguish between time deposits and demand deposits for federal reserve requirement purposes (47 FR 37878, Aug. 27, 1982). The interpretation was designed to ensure that the regulatory early withdrawal penalties in Regulation Q used to achieve these three purposes were not evaded through the purchase by a member bank or its affiliate of a time deposit of the member bank prior to the maturity of the deposit. (b) Because the expiration of the Depository Institutions Deregulation Act [[Page 102]] (title II of Pub. L. 96-221) on April 1, 1986, removed the authority to set interest rate ceilings on deposits, one of the purposes for adopting the interpretation was eliminated. The removal of the authority to set interest rate ceilings on deposits required the Board to revise the early withdrawal penalties which were also used to distinguish between types of deposits for reserve requirement purposes. Effective April 1, 1986, the Board amended its Regulation D to incorporate early withdrawal penalties applicable to all depository institutions for this purpose (51 FR 9629, Mar. 20, 1986). Although the new early withdrawal penalties differ from the penalties used to enforce interest rate ceilings, secondary market purchases still effectively shorten the maturities of deposits and may be used to evade reserve requirements. This interpretation replaces the prior interpretation and states the application of the new early withdrawal penalties to purchases by depository institutions and their affiliates of the depository institution's time deposits. The interpretation applies only to situations in which the Board's regulatory penalties apply. (c) Secondary market purchases under the rule. The Board has determined that a depository institution purchasing a time deposit it has issued should be regarded as having paid the time deposit prior to maturity. The effect of the transaction is that the depository institution has cancelled a liability as opposed to having acquired an asset for its portfolio. Thus, the depository institution is required to impose any early withdrawal penalty required by Regulation D on the party from whom it purchases the instrument by deducting the amount of the penalty from the purchase price. The Board recognizes, however, that secondary market sales of time deposits are often done without regard to the identity of the original owner of the deposit. Such sales typically involve a pool of time deposits with the price based on the aggregate face value and average rate of return on the deposits. A depository institution purchasing time deposits from persons other than the person to whom the deposit was originally issued should be aware of the parties named on each of the deposits it is purchasing but through failure to inspect the deposits prior to the purchase may not be aware at the time it purchases a pool of time deposits that it originally issued one or more of the deposits in the pool. In such cases, if a purchasing depository institution does not wish to assess an applicable early withdrawal penalty, the deposit may be sold immediately in the secondary market as an alternative to imposing the early withdrawal penalty. (d) Purchases by affiliates. On a consolidated basis, if an affiliate (as defined in Sec. 204.2(q) of Regulation D) of a depository institution purchases a CD issued by the depository institution, the purchase does not reduce their consolidated liabilities and could be accomplished primarily to assist the depository institution in avoiding the requirements of the Board's Regulation D. Because the effect of the early withdrawal penalty rule could be easily circumvented by purchases of time deposits by affiliates, such purchases are also regarded as an early withdrawals of the time deposit, and the purchase should be treated as if the depository institution made the purchase directly. Thus, the regulatory requirements for early withdrawal penalties apply to affiliates of a depository institution as well as to the institution itself. (e) Depository institution acting as broker. The Board believes that it is permissible for a depository institution to facilitate the secondary market for its own time deposits by finding a purchaser for a time deposit that a customer is trying to sell. In such instances, the depository institution will not be paying out any of its own funds, and the depositor does not have a guarantee that the depository institution will actually be able to find a buyer. (f) Third-party market-makers. A depository institution may also establish and advertise arrangements whereby an unaffiliated third party agrees in advance to purchase time deposits issued by the institution. The Board would not regard these transactions as inconsistent with the purposes that the early withdrawal penalty is intended to serve unless a depository institution pays a fee to the third party purchaser [[Page 103]] as compensation for making the purchases or to remove the risk from purchasing the deposits. In this regard, any interim financing provided to such a third party by a depository institution in connection with the institution's secondary market activity involving the institution's time deposits must be made substantially on the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions with other similarly situated persons and may not involve more than the normal risk of repayment. (g) Reciprocal arrangements. Finally, while a depository institution may enter into an arrangement with an unaffiliated third party wherein the third party agrees to stand ready to purchase time deposits held by the depository institution's customers, the Board will regard a reciprocal arrangement with another depository institution for purchase of each other's time deposits as a circumvention of the early withdrawal penalty rule and the purposes it is designed to serve. [52 FR 47697, Dec. 16, 1987] Sec. 204.132 Treatment of loan strip participations. (a) Effective March 31, 1988, the glossary section of the instructions for the Report of Condition and Income (FFIEC 031-034; OMB control number 7100-0036; available from a depository institution's primary federal regulator) (Call Report) was amended to clarify that certain short-term loan participation arrangements (sometimes known or styled as loan strips or strip participations) are regarded as borrowings rather than sales for Call Report purposes in certain circumstances. Through this interpretation, the Board is clarifying that such transactions should be treated as deposits for purposes of Regulation D. (b) These transactions involve the sale (or placement) of a short- term loan by a depository institution that has been made under a long- term commitment of the depository institution to advance funds. For example, a 90-day loan made under a five-year revolving line of credit may be sold to or placed with a third party by the depository institution originating the loan. The depository institution originating the loan is obligated to renew the 90-day note itself (by advancing funds to its customer at the end of the 90-day period) in the event the original participant does not wish to renew the credit. Since, under these arrangements, the depository institution is obligated to make another loan at the end of 90 days (absent any event of default on the part of the borrower), the depository institution selling the loan or participation in effect must buy back the loan or participation at the maturity of the 90-day loan sold to or funded by the purchaser at the option of the purchaser. Accordingly, these transactions bear the essential characteristics of a repurchase agreement and, therefore, are reportable and reservable under Regulation D. (c) Because many of these transactions give rise to deposit liabilities in the form of promissory notes, acknowledgments of advance or similar obligations (written or oral) as described in Sec. 204.2(a)(1)(vii) of Regulation D, the exemptions from the definition of deposit incorporated in that section may apply to the liability incurred by a depository institution when it offers or originates a loan strip facility. Thus, for example, loan strips sold to domestic offices of other depository institutions are exempt from Regulation D under Sec. 204.2(a)(1)(vii)(A)(1) because they are obligations issued or undertaken and held for the account of a U.S. office of another depository institution. Similarly, some of these transactions result in Eurocurrency liabilities and are reportable and reservable as such. [53 FR 24931, July 1, 1988] Sec. 204.133 Multiple savings deposits treated as a transaction account. (a) Authority. Under section 19(a) of the Federal Reserve Act, the Board is authorized to define the terms used in section 19, and to prescribe regulations to implement and prevent evasions of the requirements of that section. Section 19(b) establishes general reserve requirements on transaction accounts and nonpersonal time deposits. Under section 19(b)(1)(F), the Board also is authorized to determine, by regulation or order, that an account or deposit is a [[Page 104]] transaction account if such account is used directly or indirectly for the purpose of making payments to third persons or others. This interpretation is adopted under these authorities. (b) Background. Under Regulation D, 12 CFR 204.2(d)(2), the term ``savings deposit'' includes a deposit or an account that meets the requirements of Sec. 204.2(d)(1) and from which, under the terms of the deposit contract or by practice of the depository institution, the depositor is permitted or authorized to make up to six transfers or withdrawals per month or statement cycle of at least four weeks. The depository institution may authorize up to three of these six transfers to be made by check, draft, debit card, or similar order drawn by the depositor and payable to third parties. If more than six transfers (or more than three third party transfers by check, etc.) are permitted or authorized per month or statement cycle, the depository institution may not classify the account as a savings deposit. If the depositor, during the period, makes more than six transfers or withdrawals (or more than three third party transfers by check, etc.), the depository institution may, depending upon the facts and circumstances, be required by Regulation D (Footnote 5 at Sec. 204.2(d)(2)) to reclassify or close the account. (c) Use of multiple savings deposits. Depository institutions have asked for guidance as to when a depositor may maintain more than one savings deposit and be permitted to make all the transfers or withdrawals authorized for savings deposits under Regulation D from each savings deposit. The Board has determined that, if a depository institution suggests or otherwise promotes the establishment of or operation of multiple savings accounts with transfer capabilities in order to permit transfers and withdrawals in excess of those permitted by Regulation D for an individual savings account, the accounts generally should be considered to be transaction accounts. This determination applies regardless of whether the deposits have entirely separate account numbers or are subsidiary accounts of a master deposit account. Multiple savings accounts, however, should not be considered to be transaction accounts if there is a legitimate purpose, other than increasing the number of transfers or withdrawals, for opening more than one savings deposit. (d) Examples. The distinction between appropriate and inappropriate uses of multiple accounts is illustrated by the following examples: Example 1. (i) X wishes to open an account that maximizes his interest earnings but also permits X to draw up to ten checks a month against the account. X's Bank suggests an arrangement under which X establishes four savings deposits at Bank. Under the arrangement, X deposits funds in the first account and then draws three checks against that account. X then instructs Bank to transfer all funds in excess of the amount of the three checks to the second account and draws an additional three checks. Funds are continually shifted between accounts when additional checks are drawn so that no more than three checks are drawn against each account each month. (ii) Suggesting the use of four savings accounts in the name of X in this example is designed solely to permit the customer to exceed the transfer limitations on savings accounts. Accordingly, the savings accounts should be classified as transaction accounts. Example 2. (i) X is trustee of separate trusts for each of his four children. X's Bank suggests that X, as trustee, open a savings deposit in a depository institution for each of his four children in order to ensure an independent accounting of the funds held by each trust. (ii) X's Bank's suggestion to use four savings deposits in the name of X in this example is appropriate, and the third party transfers from one account should not be considered in determining whether the transfer and withdrawal limit was exceeded on any other account. X established a legitimate purpose, the segregation of the trust assets, for each account separate from the need to make third party transfers. Furthermore, there is no indication, such as by the direct or indirect transfer of funds from one account to another, that the accounts are being used for any purpose other than to make transfers to the appropriate trust. Example 3. (i) X opens four savings accounts with Bank. X regularly draws up to three checks against each account and transfers funds between the accounts in order to ensure that the checks on the separate accounts are covered. X's Bank did not suggest or otherwise promote the arrangement. (ii) X's Bank may treat the multiple accounts as savings deposits for Regulation D purposes, even if it discovers that X is using the accounts to increase the transfer limits applicable to savings accounts because X's Bank did not suggest or otherwise promote [[Page 105]] the establishment of or operation of the arrangement. [57 FR 38427, Aug. 25, 1992] Sec. 204.134 Linked time deposits and transaction accounts. (a) Authority. Under section 19(a) of the Federal Reserve Act (12 U.S.C. 461(a)), the Board is authorized to define the terms used in section 19, and to prescribe regulations to implement and prevent evasions of the requirements of that section. Section 19(b)(2) establishes general reserve requirements on transaction accounts and nonpersonal time deposits. Under section 19(b)(1)(F), the Board also is authorized to determine, by regulation or order, that an account or deposit is a transaction account if such account is used directly or indirectly for the purpose of making payments to third persons or others. This interpretation is adopted under these authorities. (b) Linked time deposits and transaction accounts. Some depository institutions are offering or proposing to offer account arrangements under which a group of participating depositors maintain transaction accounts and time deposits with a depository institution in an arrangement under which each depositor may draw checks up to the aggregate amount held by that depositor in these accounts. Under this account arrangement, at the end of the day funds over a specified balance in each depositor's transaction account are swept from the transaction account into a commingled time deposit. A separate time deposit is opened on each business day with the balance of deposits received that day, as well as the proceeds of any time deposit that has matured that day that are not used to pay checks or withdrawals from the transaction accounts. The time deposits, which generally have maturities of seven days, are staggered so that one or more time deposits mature each business day. Funds are apportioned among the various time deposits in a manner calculated to minimize the possibility that the funds available on any given day would be insufficient to pay all items presented. (1) The time deposits involved in such an arrangement may be held directly by the depositor or indirectly through a trust or other arrangement. The individual depositor's interest in time deposits may be identifiable, with an agreement by the depositors that balances held in the arrangement may be used to pay checks drawn by other depositors participating in the arrangement, or the depositor may have an undivided interest in a series of time deposits. (2) Each day funds from the maturing time deposits are available to pay checks or other charges to the depositor's transaction account. The depository institution's decision concerning whether to pay checks drawn on an individual depositor's transaction account is based on the aggregate amount of funds that the depositor has invested in the arrangement, including any amount that may be invested in unmatured time deposits. Only if checks drawn by all participants in the arrangement exceed the total balance of funds available that day (i.e. funds from the time deposit that has matured that day as well as any deposits made to participating accounts during the day) is a time deposit withdrawn prior to maturity so as to incur an early withdrawal penalty. The arrangement may be marketed as providing the customer unlimited access to its funds with a high rate of interest. (c) Determination. In these arrangements, the aggregate deposit balances of all participants generally vary by a comparatively small amount, allowing the time deposits maturing on any day safely to cover any charges to the depositors' transaction accounts and avoiding any early withdrawal penalties. Thus, this arrangement substitutes time deposit balances for transaction accounts balances with no practical restrictions on the depositors' access to their funds, and serves no business purpose other than to allow the payment of higher interest through the avoidance of reserve requirements. As the time deposits may be used to provide funds indirectly for the purposes of making payments or transfers to third persons, the Board has determined that the time deposits should be considered to be transaction [[Page 106]] accounts for the purposes of Regulation D. [57 FR 38428, Aug. 25, 1992] Sec. 204.135 Shifting funds between depository institutions to make use of the low reserve tranche. (a) Authority. Under section 19(a) of the Federal Reserve Act (12 U.S.C. 461(a)) the Board is authorized to define terms used in section 19, and to prescribe regulations to implement and to prevent evasions of the requirements of that section. Section 19(b)(2) establishes general reserve requirements on transaction accounts and nonpersonal time deposits. In addition to its authority to define terms under section 19(a), section 19(g) of the Federal Reserve Act also give the Board the specific authority to define terms relating to deductions allowed in reserve computation, including ``balances due from other banks.'' This interpretation is adopted under these authorities. (b) Background. (1) Currently, the Board requires reserves of zero, three, or ten percent on transaction accounts, depending upon the amount of transaction deposits in the depository institution, and of zero percent on nonpersonal time deposits. In determining its reserve balance under Regulation D, a depository institution may deduct the balances it maintains in another depository institution located in the United States if those balances are subject to immediate withdrawal by the depositing depository institution (Sec. 204.3(f)). This deduction is commonly known as the ``due from'' deduction. In addition, Regulation D at Sec. 204.2(a)(1)(vii)(A) exempts from the definition of ``deposit'' any liability of a depository institution on a promissory note or similar obligation that is issued or undertaken and held for the account of an office located in the United States of another depository institution. Transactions falling within this exemption from the definition of ``deposit'' include federal funds or ``fed funds'' transactions. (2) Under section 19(b)(2) of the Federal Reserve Act (12 U.S.C. 461(b)(2)), the Board is required to impose reserves of three percent on total transaction deposits at or below an amount determined under a formula. Transaction deposits falling within this amount are in the ``low reserve tranche.'' Currently the low reserve tranche runs up to $42.2 million. Under section 19(b)(11) of the Federal Reserve Act (12 U.S.C. 461(b)(11)) the Board is also required to impose reserves of zero percent on reservable liabilities at or below an amount determined under a formula. Currently that amount is $3.6 million. (c) Shifting funds between depository institutions. The Board is aware that certain depository institutions with transaction account balances in an amount greater than the low reserve tranche have entered into transactions with affiliated depository institutions that have transaction account balances below the maximum low reserve tranche amount. These transactions are intended to lower the transaction reserves of the larger depository institution and leave the economic position of the smaller depository institutions unaffected, and have no apparent purpose other than to reduce required reserves of the larger institution. The larger depository institution places funds in a demand deposit at a small domestic depository institution. The larger depository institution considers those funds to be subject to the ``due from'' deduction, and accordingly reduces its transaction reserves in the amount of the demand deposit. The larger depository institution then reduces its transaction account reserves by 10 percent of the deposited amount. The small depository institution, because it is within the low reserve tranche, must maintain transaction account reserves of 3 percent on the funds deposited by the larger depository institution. The small depository institution then transfers all but 3 percent of the funds deposited by the larger depository institution back to the larger depository institution in a transaction that qualifies as a ``fed funds'' transaction. The 3 percent not transferred to the larger depository institution is the amount of the larger depository institution's deposit that the small depository institution must maintain as transaction account reserves. Because the larger depository institution books this second part of the transaction as a ``fed funds'' transaction, the larger depository institution does not maintain [[Page 107]] reserves on the funds that it receives back from the small depository institution. As a consequence, the larger depository institution has available for its use 97 percent of the amount transferred to the small depository institution. Had the larger depository institution not entered into the transaction, it would have maintained transaction account reserves of 10 percent on that amount, and would have had only 90 percent of that amount for use in its business. (d) Determination. The Board believes that the practice described above generally is a device to evade the reserves imposed by Regulation D. Consequently, the Board has determined that, in the circumstances described above, the larger depository institution depositing funds in the smaller institution may not take a ``due from'' deduction on account of the funds in the demand deposit account if, and to the extent that, funds flow back to the larger depository institution from the small depository institution by means of a transaction that is exempt from transaction account reserve requirements. [57 FR 38429, Aug. 25, 1992] Sec. 204.136 Treatment of trust overdrafts for reserve requirement reporting purposes. (a) Authority. Under section 19(a) of the Federal Reserve Act (12 U.S.C. 461(a)), the Board is authorized to define the terms used in section 19, and to prescribe regulations to implement and prevent evasions of the requirements of that section. Section 19(b) establishes general reserve requirements on transaction accounts and nonpersonal time deposits. Under section 19(b)(1)(F), the Board also is authorized to determine, by regulation or order, that an account or deposit is a transaction account if such account is used directly or indirectly for the purpose of making payments to third persons or others. This interpretation is adopted under these authorities. (b) Netting of trust account balances. (1) Not all depository institutions have treated overdrafts in trust accounts administered by a trust department in the same manner when calculating the balance in a commingled transaction account in the depository institution for the account of the trust department of the institution. In some cases, depository institutions carry the aggregate of the positive balances in the individual trust accounts as the balance on which reserves are computed for the commingled account. In other cases depository institutions net positive balances in some trust accounts against negative balances in other trust accounts, thus reducing the balance in the commingled account and lowering the reserve requirements. Except in limited circumstances, negative balances in individual trust accounts should not be netted against positive balances in other trust accounts when determining the balance in a trust department's commingled transaction account maintained in a depository institution's commercial department. The netting of positive and negative balances has the effect of reducing the aggregate of a commingled transaction account reported by the depository institution to the Federal Reserve and reduces the reserves the institution must hold against transaction accounts under Regulation D. Unless the governing trust agreement or state law authorizes the depository institution, as trustee, to lend money in one trust to another trust, the negative balances in effect, for purposes of Regulation D, represent a loan from the depository institution. Consequently, negative balances in individual trust accounts should not be netted against positive balances in other individual trust accounts, and the balance in any transaction account containing commingled trust balances should reflect positive or zero balances for each individual trust. (2) For example, where a trust department engages in securities lending activities for trust accounts, overdrafts might occur because of the trust department's attempt to ``normalize'' the effects of timing delays between the depository institution's receipt of the cash collateral from the broker and the trust department's posting of the transaction to the lending trust account. When securities are lent from a trust customer to a broker that pledges cash as collateral, the broker usually transfers the cash collateral to the depository institution on the day that [[Page 108]] the securities are made available. While the institution has the use of the funds from the time of the transfer, the trust department's normal posting procedures may not reflect receipt of the cash collateral by the individual account until the next day. On the day that the loan is terminated, the broker returns the securities to the lending trust account and the trust customer's account is debited for the amount of the cash collateral that is returned by the depository institution to the broker. The trust department, however, often does not liquidate the investment made with the cash collateral until the day after the loan terminates, a delay that normally causes a one day overdraft in the trust account. Regulation D requires that, on the day the loan is terminated, the depository institution regard the negative balance in the customer's account as zero for reserve requirement reporting purposes and not net the overdraft against positive balances in other accounts. (c) Procedures. In order to meet the requirements of Regulation D, a depository institution must have procedures to determine the aggregate of trust department transaction account balances for Regulation D on a daily basis. The procedures must consider only the positive balances in individual trust accounts without netting negative balances except in those limited circumstances where loans are legally permitted from one trust to another, or where offsetting is permitted pursuant to trust law or written agreement, or where the amount that caused the overdraft is still available in a settlement, suspense or other trust account within the trust department and may be used to offset the overdraft. [57 FR 38429, Aug. 25, 1992] PART 205_ELECTRONIC FUND TRANSFERS (REGULATION E)--Table of Contents Sec. 205.1 Authority and purpose. 205.2 Definitions. 205.3 Coverage. 205.4 General disclosure requirements; jointly offered services. 205.5 Issuance of access devices. 205.6 Liability of consumer for unauthorized transfers. 205.7 Initial disclosures. 205.8 Change in terms notice; error resolution notice. 205.9 Receipts at electronic terminals; periodic statements. 205.10 Preauthorized transfers. 205.11 Procedures for resolving errors. 205.12 Relation to other laws. 205.13 Administrative enforcement; record retention. 205.14 Electronic fund transfer service provider not holding consumer's account. 205.15 Electronic fund transfer of government benefits. 205.16 Disclosures at automated teller machines. 205.17 Requirements for overdraft services. 205.18 Requirements for financial institutions offering payroll card accounts. 205.20 Requirements for gift cards and gift certificates. Appendix A to Part 205--Model Disclosure Clauses and Forms Appendix B to Part 205--Federal Enforcement Agencies Appendix C to Part 205--Issuance of Staff Interpretations Supplement I to Part 205--Official Staff Interpretations Authority: 15 U.S.C. 1693b. Source: Reg. E, 61 FR 19669, May 2, 1996, unless otherwise noted. Sec. 205.1 Authority and purpose. (a) Authority. The regulation in this part, known as Regulation E, is issued by the Board of Governors of the Federal Reserve System pursuant to the Electronic Fund Transfer Act (15 U.S.C. 1693 et seq.). The information-collection requirements have been approved by the Office of Management and Budget under 44 U.S.C. 3501 et seq. and have been assigned OMB No. 7100-0200. (b) Purpose. This part carries out the purposes of the Electronic Fund Transfer Act, which establishes the basic rights, liabilities, and responsibilities of consumers who use electronic fund transfer services and of financial institutions that offer these services. The primary objective of the act and this part is the protection of individual consumers engaging in electronic fund transfers. Sec. 205.2 Definitions. For purposes of this part, the following definitions apply: [[Page 109]] (a)(1) Access device means a card, code, or other means of access to a consumer's account, or any combination thereof, that may be used by the consumer to initiate electronic fund transfers. (2) An access device becomes an accepted access device when the consumer: (i) Requests and receives, or signs, or uses (or authorizes another to use) the access device to transfer money between accounts or to obtain money, property, or services; (ii) Requests validation of an access device issued on an unsolicited basis; or (iii) Receives an access device in renewal of, or in substitution for, an accepted access device from either the financial institution that initially issued the device or a successor. (b)(1) Account means a demand deposit (checking), savings, or other consumer asset account (other than an occasional or incidental credit balance in a credit plan) held directly or indirectly by a financial institution and established primarily for personal, family, or household purposes. (2) The term includes a ``payroll card account'' which is an account that is directly or indirectly established through an employer and to which electronic fund transfers of the consumer's wages, salary, or other employee compensation (such as commissions), are made on a recurring basis, whether the account is operated or managed by the employer, a third-party payroll processor, a depository institution or any other person. For rules governing payroll card accounts, see Sec. 205.18. (3) The term does not include an account held by a financial institution under a bona fide trust agreement. (c) Act means the Electronic Fund Transfer Act (title IX of the Consumer Credit Protection Act, 15 U.S.C. 1693 et seq.). (d) Business day means any day on which the offices of the consumer's financial institution are open to the public for carrying on substantially all business functions. (e) Consumer means a natural person. (f) Credit means the right granted by a financial institution to a consumer to defer payment of debt, incur debt and defer its payment, or purchase property or services and defer payment therefor. (g) Electronic fund transfer is defined in Sec. 205.3. (h) Electronic terminal means an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic fund transfer. The term includes, but is not limited to, point-of-sale terminals, automated teller machines, and cash dispensing machines. (i) Financial institution means a bank, savings association, credit union, or any other person that directly or indirectly holds an account belonging to a consumer, or that issues an access device and agrees with a consumer to provide electronic fund transfer services. (j) Person means a natural person or an organization, including a corporation, government agency, estate, trust, partnership, proprietorship, cooperative, or association. (k) Preauthorized electronic fund transfer means an electronic fund transfer authorized in advance to recur at substantially regular intervals. (l) State means any state, territory, or possession of the United States; the District of Columbia; the Commonwealth of Puerto Rico; or any political subdivision of the above in this paragraph (l). (m) Unauthorized electronic fund transfer means an electronic fund transfer from a consumer's account initiated by a person other than the consumer without actual authority to initiate the transfer and from which the consumer receives no benefit. The term does not include an electronic fund transfer initiated: (1) By a person who was furnished the access device to the consumer's account by the consumer, unless the consumer has notified the financial institution that transfers by that person are no longer authorized; (2) With fraudulent intent by the consumer or any person acting in concert with the consumer; or (3) By the financial institution or its employee. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 71 FR 1481, Jan. 10, 2006; 71 FR 51449, Aug. 30, 2006] [[Page 110]] Sec. 205.3 Coverage. (a) General. This part applies to any electronic fund transfer that authorizes a financial institution to debit or credit a consumer's account. Generally, this part applies to financial institutions. For purposes of Sec. Sec. 205.3(b)(2) and (b)(3), 205.10(b), (d), and (e), 205.13, and 205.20, this part applies to any person. (b) Electronic fund transfer--(1) Definition. The term electronic fund transfer means any transfer of funds that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumer's account. The term includes, but is not limited to-- (i) Point-of-sale transfers; (ii) Automated teller machine transfers; (iii) Direct deposits or withdrawals of funds; (iv) Transfers initiated by telephone; and (v) Transfers resulting from debit card transactions, whether or not initiated through an electronic terminal. (2) Electronic fund transfer using information from a check. (i) This part applies where a check, draft, or similar paper instrument is used as a source of information to initiate a one-time electronic fund transfer from a consumer's account. The consumer must authorize the transfer. (ii) The person initiating an electronic fund transfer using the consumer's check as a source of information for the transfer must provide a notice that the transaction will or may be processed as an EFT, and obtain a consumer's authorization for each transfer. A consumer authorizes a one-time electronic fund transfer (in providing a check to a merchant or other payee for the MICR encoding, that is, the routing number of the financial institution, the consumer's account number and the serial number) when the consumer receives notice and goes forward with the underlying transaction. For point-of-sale transfers, the notice must be posted in a prominent and conspicuous location, and a copy thereof, or a substantially similar notice, must be provided to the consumer at the time of the transaction. (iii) The person that initiates an electronic fund transfer using the consumer's check as a source of information for the transfer shall also provide a notice to the consumer at the same time it provides the notice required under paragraph (b)(2)(ii) that when a check is used to initiate an electronic fund transfer, funds may be debited from the consumer's account as soon as the same day payment is received, and, as applicable, that the consumer's check will not be returned by the financial institution holding the consumer's account. For point-of-sale transfers, the person initiating the transfer may post the notice required in this paragraph (b)(2)(iii) in a prominent and conspicuous location and need not include this notice on the copy of the notice given to the consumer under paragraph (b)(2)(ii). The requirements in this paragraph (b)(2)(iii) shall remain in effect until December 31, 2009. (iv) A person may provide notices that are substantially similar to those set forth in appendix A-6 to comply with the requirements of this paragraph (b)(2). (3) Collection of returned item fees via electronic fund transfer-- (i) General. The person initiating an electronic fund transfer to collect a fee for the return of an electronic fund transfer or a check that is unpaid, including due to insufficient or uncollected funds in the consumer's account, must obtain the consumer's authorization for each transfer. A consumer authorizes a one-time electronic fund transfer from his or her account to pay the fee for the returned item or transfer if the person collecting the fee provides notice to the consumer stating that the person may electronically collect the fee, and the consumer goes forward with the underlying transaction. The notice must state that the fee will be collected by means of an electronic fund transfer from the consumer's account if the payment is returned unpaid and must disclose the dollar amount of the fee. If the fee may vary due to the amount of the transaction or due to other factors, then, except as otherwise provided in paragraph (b)(3)(ii) of this section, the person collecting the fee [[Page 111]] may disclose, in place of the dollar amount of the fee, an explanation of how the fee will be determined. (ii) Point-of-sale transactions. If a fee for an electronic fund transfer or check returned unpaid may be collected electronically in connection with a point-of-sale transaction, the person initiating an electronic fund transfer to collect the fee must post the notice described in paragraph (b)(3)(i) of this section in a prominent and conspicuous location. The person also must either provide the consumer with a copy of the posted notice (or a substantially similar notice) at the time of the transaction, or mail the copy (or a substantially similar notice) to the consumer's address as soon as reasonably practicable after the person initiates the electronic fund transfer to collect the fee. If the amount of the fee may vary due to the amount of the transaction or due to other factors, the posted notice may explain how the fee will be determined, but the notice provided to the consumer must state the dollar amount of the fee if the amount can be calculated at the time the notice is provided or mailed to the consumer. (iii) Delayed compliance date for fee disclosure. Through December 31, 2007, the notice required to be provided to consumers under paragraph (b)(3)(ii) of this section in connection with a point-of-sale transaction, whether given to the consumer at the time of the transaction or subsequently mailed to the consumer, need not include either the dollar amount of any fee collected electronically for a check or electronic fund transfer returned unpaid or an explanation of how the amount of the fee will be determined. (c) Exclusions from coverage. The term electronic fund transfer does not include: (1) Checks. Any transfer of funds originated by check, draft, or similar paper instrument; or any payment made by check, draft, or similar paper instrument at an electronic terminal. (2) Check guarantee or authorization. Any transfer of funds that guarantees payment or authorizes acceptance of a check, draft, or similar paper instrument but that does not directly result in a debit or credit to a consumer's account. (3) Wire or other similar transfers. Any transfer of funds through Fedwire or through a similar wire transfer system that is used primarily for transfers between financial institutions or between businesses. (4) Securities and commodities transfers. Any transfer of funds the primary purpose of which is the purchase or sale of a security or commodity, if the security or commodity is: (i) Regulated by the Securities and Exchange Commission or the Commodity Futures Trading Commission; (ii) Purchased or sold through a broker-dealer regulated by the Securities and Exchange Commission or through a futures commission merchant regulated by the Commodity Futures Trading Commission; or (iii) Held in book-entry form by a Federal Reserve Bank or federal agency. (5) Automatic transfers by account-holding institution. Any transfer of funds under an agreement between a consumer and a financial institution which provides that the institution will initiate individual transfers without a specific request from the consumer: (i) Between a consumer's accounts within the financial institution; (ii) From a consumer's account to an account of a member of the consumer's family held in the same financial institution; or (iii) Between a consumer's account and an account of the financial institution, except that these transfers remain subject to Sec. 205.10(e) regarding compulsory use and sections 915 and 916 of the act regarding civil and criminal liability. (6) Telephone-initiated transfers. Any transfer of funds that: (i) Is initiated by a telephone communication between a consumer and a financial institution making the transfer; and (ii) Does not take place under a telephone bill-payment or other written plan in which periodic or recurring transfers are contemplated. (7) Small institutions. Any preauthorized transfer to or from an account if the assets of the account-holding financial institution were $100 [[Page 112]] million or less on the preceding December 31. If assets of the account- holding institution subsequently exceed $100 million, the institution's exemption for preauthorized transfers terminates one year from the end of the calendar year in which the assets exceed $100 million. Preauthorized transfers exempt under this paragraph (c)(7) remain subject to Sec. 205.10(e) regarding compulsory use and sections 915 and 916 of the act regarding civil and criminal liability. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 71 FR 1659, Jan. 10, 2006; 71 FR 51456, Aug. 30, 2006; 75 FR 16613, Apr. 1, 2010] Sec. 205.4 General disclosure requirements; jointly offered services. (a)(1) Form of disclosures. Disclosures required under this part shall be clear and readily understandable, in writing, and in a form the consumer may keep, except as otherwise provided in this part. The disclosures required by this part may be provided to the consumer in electronic form, subject to compliance with the consumer-consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.). A financial institution may use commonly accepted or readily understandable abbreviations in complying with the disclosure requirements of this part. (2) Foreign language disclosures. Disclosures required under this part may be made in a language other than English, provided that the disclosures are made available in English upon the consumer's request. (b) Additional information; disclosures required by other laws. A financial institution may include additional information and may combine disclosures required by other laws (such as the Truth in Lending Act (15 U.S.C. 1601 et seq.) or the Truth in Savings Act (12 U.S.C. 4301 et seq.)) with the disclosures required by this part. (c) Multiple accounts and account holders--(1) Multiple accounts. A financial institution may combine the required disclosures into a single statement for a consumer who holds more than one account at the institution. (2) Multiple account holders. For joint accounts held by two or more consumers, a financial institution need provide only one set of the required disclosures and may provide them to any of the account holders. (d) Services offered jointly. Financial institutions that provide electronic fund transfer services jointly may contract among themselves to comply with the requirements that this part imposes on any or all of them. An institution need make only the disclosures required by Sec. Sec. 205.7 and 205.8 that are within its knowledge and within the purview of its relationship with the consumer for whom it holds an account. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 63 FR 14532, Mar. 25, 1998; 66 FR 17793, Apr. 4, 2001; 72 FR 63456, Nov. 9, 2007; 75 FR 16613, Apr. 1, 2010] Sec. 205.5 Issuance of access devices. (a) Solicited issuance. Except as provided in paragraph (b) of this section, a financial institution may issue an access device to a consumer only: (1) In response to an oral or written request for the device; or (2) As a renewal of, or in substitution for, an accepted access device whether issued by the institution or a successor. (b) Unsolicited issuance. A financial institution may distribute an access device to a consumer on an unsolicited basis if the access device is: (1) Not validated, meaning that the institution has not yet performed all the procedures that would enable a consumer to initiate an electronic fund transfer using the access device; (2) Accompanied by a clear explanation that the access device is not validated and how the consumer may dispose of it if validation is not desired; (3) Accompanied by the disclosures required by Sec. 205.7, of the consumer's rights and liabilities that will apply if the access device is validated; and (4) Validated only in response to the consumer's oral or written request for validation, after the institution has verified the consumer's identity by a reasonable means. Sec. 205.6 Liability of consumer for unauthorized transfers. (a) Conditions for liability. A consumer may be held liable, within the limitations described in paragraph (b) of this [[Page 113]] section, for an unauthorized electronic fund transfer involving the consumer's account only if the financial institution has provided the disclosures required by Sec. 205.7(b)(1), (2), and (3). If the unauthorized transfer involved an access device, it must be an accepted access device and the financial institution must have provided a means to identify the consumer to whom it was issued. (b) Limitations on amount of liability. A consumer's liability for an unauthorized electronic fund transfer or a series of related unauthorized transfers shall be determined as follows: (1) Timely notice given. If the consumer notifies the financial institution within two business days after learning of the loss or theft of the access device, the consumer's liability shall not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice to the financial institution. (2) Timely notice not given. If the consumer fails to notify the financial institution within two business days after learning of the loss or theft of the access device, the consumer's liability shall not exceed the lesser of $500 or the sum of: (i) $50 or the amount of unauthorized transfers that occur within the two business days, whichever is less; and (ii) The amount of unauthorized transfers that occur after the close of two business days and before notice to the institution, provided the institution establishes that these transfers would not have occurred had the consumer notified the institution within that two-day period. (3) Periodic statement; timely notice not given. A consumer must report an unauthorized electronic fund transfer that appears on a periodic statement within 60 days of the financial institution's transmittal of the statement to avoid liability for subsequent transfers. If the consumer fails to do so, the consumer's liability shall not exceed the amount of the unauthorized transfers that occur after the close of the 60 days and before notice to the institution, and that the institution establishes would not have occurred had the consumer notified the institution within the 60-day period. When an access device is involved in the unauthorized transfer, the consumer may be liable for other amounts set forth in paragraphs (b)(1) or (b)(2) of this section, as applicable. (4) Extension of time limits. If the consumer's delay in notifying the financial institution was due to extenuating circumstances, the institution shall extend the times specified above to a reasonable period. (5) Notice to financial institution. (i) Notice to a financial institution is given when a consumer takes steps reasonably necessary to provide the institution with the pertinent information, whether or not a particular employee or agent of the institution actually receives the information. (ii) The consumer may notify the institution in person, by telephone, or in writing. (iii) Written notice is considered given at the time the consumer mails the notice or delivers it for transmission to the institution by any other usual means. Notice may be considered constructively given when the institution becomes aware of circumstances leading to the reasonable belief that an unauthorized transfer to or from the consumer's account has been or may be made. (6) Liability under state law or agreement. If state law or an agreement between the consumer and the financial institution imposes less liability than is provided by this section, the consumer's liability shall not exceed the amount imposed under the state law or agreement. Sec. 205.7 Initial disclosures. (a) Timing of disclosures. A financial institution shall make the disclosures required by this section at the time a consumer contracts for an electronic fund transfer service or before the first electronic fund transfer is made involving the consumer's account. (b) Content of disclosures. A financial institution shall provide the following disclosures, as applicable: (1) Liability of consumer. A summary of the consumer's liability, under Sec. 205.6 or under state or other applicable law or agreement, for unauthorized electronic fund transfers. (2) Telephone number and address. The telephone number and address of the [[Page 114]] person or office to be notified when the consumer believes that an unauthorized electronic fund transfer has been or may be made. (3) Business days. The financial institution's business days. (4) Types of transfers; limitations. The type of electronic fund transfers that the consumer may make and any limitations on the frequency and dollar amount of transfers. Details of the limitations need not be disclosed if confidentiality is essential to maintain the security of the electronic fund transfer system. (5) Fees. Any fees imposed by the financial institution for electronic fund transfers or for the right to make transfers. (6) Documentation. A summary of the consumer's right to receipts and periodic statements, as provided in Sec. 205.9, and notices regarding preauthorized transfers as provided in Sec. Sec. 205.10(a), and 205.10(d). (7) Stop payment. A summary of the consumer's right to stop payment of a preauthorized electronic fund transfer and the procedure for placing a stop-payment order, as provided in Sec. 205.10(c). (8) Liability of institution. A summary of the financial institution's liability to the consumer under section 910 of the act for failure to make or to stop certain transfers. (9) Confidentiality. The circumstances under which, in the ordinary course of business, the financial institution may provide information concerning the consumer's account to third parties. (10) Error resolution. A notice that is substantially similar to Model Form A-3 as set out in appendix A of this part concerning error resolution. (11) ATM fees. A notice that a fee may be imposed by an automated teller machine operator as defined in Sec. 205.16(a)(1), when the consumer initiates an electronic fund transfer or makes a balance inquiry, and by any network used to complete the transaction. (c) Addition of electronic fund transfer services. If an electronic fund transfer service is added to a consumer's account and is subject to terms and conditions different from those described in the initial disclosures, disclosures for the new service are required. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 66 FR 13412, Mar. 6, 2001; 71 FR 1659, Jan. 10, 2006] Sec. 205.8 Change in terms notice; error resolution notice. (a) Change in terms notice--(1) Prior notice required. A financial institution shall mail or deliver a written notice to the consumer, at least 21 days before the effective date, of any change in a term or condition required to be disclosed under Sec. 205.7(b) if the change would result in: (i) Increased fees for the consumer; (ii) Increased liability for the consumer; (iii) Fewer types of available electronic fund transfers; or (iv) Stricter limitations on the frequency or dollar amount of transfers. (2) Prior notice exception. A financial institution need not give prior notice if an immediate change in terms or conditions is necessary to maintain or restore the security of an account or an electronic fund transfer system. If the institution makes such a change permanent and disclosure would not jeopardize the security of the account or system, the institution shall notify the consumer in writing on or with the next regularly scheduled periodic statement or within 30 days of making the change permanent. (b) Error resolution notice. For accounts to or from which electronic fund transfers can be made, a financial institution shall mail or deliver to the consumer, at least once each calendar year, an error resolution notice substantially similar to the model form set forth in appendix A of this part (Model Form A-3). Alternatively, an institution may include an abbreviated notice substantially similar to the model form error resolution notice set forth in Appendix A of this part (Model Form A-3), on or with each periodic statement required by Sec. 205.9(b). [[Page 115]] Sec. 205.9 Receipts at electronic terminals; periodic statements. (a) Receipts at electronic terminals--General. Except as provided in paragraph (e) of this section, a financial institution shall make a receipt available to a consumer at the time the consumer initiates an electronic fund transfer at an electronic terminal. The receipt shall set forth the following information, as applicable: (1) Amount. The amount of the transfer. A transaction fee may be included in this amount, provided the amount of the fee is disclosed on the receipt and displayed on or at the terminal. (2) Date. The date the consumer initiates the transfer. (3) Type. The type of transfer and the type of the consumer's account(s) to or from which funds are transferred. The type of account may be omitted if the access device used is able to access only one account at that terminal. (4) Identification. A number or code that identifies the consumer's account or accounts, or the access device used to initiate the transfer. The number or code need not exceed four digits or letters to comply with the requirements of this paragraph (a)(4). (5) Terminal location. The location of the terminal where the transfer is initiated, or an identification such as a code or terminal number. Except in limited circumstances where all terminals are located in the same city or state, if the location is disclosed, it shall include the city and state or foreign country and one of the following: (i) The street address; or (ii) A generally accepted name for the specific location; or (iii) The name of the owner or operator of the terminal if other than the account-holding institution. (6) Third party transfer. The name of any third party to or from whom funds are transferred. (b) Periodic statements. For an account to or from which electronic fund transfers can be made, a financial institution shall send a periodic statement for each monthly cycle in which an electronic fund transfer has occurred; and shall send a periodic statement at least quarterly if no transfer has occurred. The statement shall set forth the following information, as applicable: (1) Transaction information. For each electronic fund transfer occurring during the cycle: (i) The amount of the transfer; (ii) The date the transfer was credited or debited to the consumer's account; (iii) The type of transfer and type of account to or from which funds were transferred; (iv) For a transfer initiated by the consumer at an electronic terminal (except for a deposit of cash or a check, draft, or similar paper instrument), the terminal location described in paragraph (a)(5) of this section; and (v) The name of any third party to or from whom funds were transferred. (2) Account number. The number of the account. (3) Fees. The amount of any fees assessed against the account during the statement period for electronic fund transfers, for the right to make transfers, or for account maintenance. (4) Account balances. The balance in the account at the beginning and at the close of the statement period. (5) Address and telephone number for inquiries. The address and telephone number to be used for inquiries or notice of errors, preceded by ``Direct inquiries to'' or similar language. The address and telephone number provided on an error resolution notice under Sec. 205.8(b) given on or with the statement satisfies this requirement. (6) Telephone number for preauthorized transfers. A telephone number the consumer may call to ascertain whether preauthorized transfers to the consumer's account have occurred, if the financial institution uses the telephone-notice option under Sec. 205.10(a)(1)(iii). (c) Exceptions to the periodic statement requirement for certain accounts--(1) Preauthorized transfers to accounts. For accounts that may be accessed only by preauthorized transfers to the account the following rules apply: (i) Passbook accounts. For passbook accounts, the financial institution need not provide a periodic statement if the institution updates the passbook upon presentation or enters on a separate document the amount and date of each electronic fund transfer since the passbook was last presented. [[Page 116]] (ii) Other accounts. For accounts other than passbook accounts, the financial institution must send a periodic statement at least quarterly. (2) Intra-institutional transfers. For an electronic fund transfer initiated by the consumer between two accounts of the consumer in the same institution, documenting the transfer on a periodic statement for one of the two accounts satisfies the periodic statement requirement. (3) Relationship between paragraphs (c)(1) and (c)(2) of this section. An account that is accessed by preauthorized transfers to the account described in paragraph (c)(1) of this section and by intra- institutional transfers described in paragraph (c)(2) of this section, but by no other type of electronic fund transfers, qualifies for the exceptions provided by paragraph (c)(1) of this section . (d) Documentation for foreign-initiated transfers. The failure by a financial institution to provide a terminal receipt for an electronic fund transfer or to document the transfer on a periodic statement does not violate this part if: (1) The transfer is not initiated within a state; and (2) The financial institution treats an inquiry for clarification or documentation as a notice of error in accordance with Sec. 205.11. (e) Exception for receipts in small-value transfers. A financial institution is not subject to the requirement to make available a receipt under paragraph (a) of this section if the amount of the transfer is $15 or less. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 72 FR 36593, July 5, 2007] Sec. 205.10 Preauthorized transfers. (a) Preauthorized transfers to consumer's account--(1) Notice by financial institution. When a person initiates preauthorized electronic fund transfers to a consumer's account at least once every 60 days, the account-holding financial institution shall provide notice to the consumer by: (i) Positive notice. Providing oral or written notice of the transfer within two business days after the transfer occurs; or (ii) Negative notice. Providing oral or written notice, within two business days after the date on which the transfer was scheduled to occur, that the transfer did not occur; or (iii) Readily-available telephone line. Providing a readily available telephone line that the consumer may call to determine whether the transfer occurred and disclosing the telephone number on the initial disclosure of account terms and on each periodic statement. (2) Notice by payor. A financial institution need not provide notice of a transfer if the payor gives the consumer positive notice that the transfer has been initiated. (3) Crediting. A financial institution that receives a preauthorized transfer of the type described in paragraph (a)(1) of this section shall credit the amount of the transfer as of the date the funds for the transfer are received. (b) Written authorization for preauthorized transfers from consumer's account. Preauthorized electronic fund transfers from a consumer's account may be authorized only by a writing signed or similarly authenticated by the consumer. The person that obtains the authorization shall provide a copy to the consumer. (c) Consumer's right to stop payment--(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer. (2) Written confirmation. The financial institution may require the consumer to give written confirmation of a stop-payment order within 14 days of an oral notification. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification. An oral stop-payment order ceases to be binding after 14 days if the consumer fails to provide the required written confirmation. (d) Notice of transfers varying in amount--(1) Notice. When a preauthorized electronic fund transfer from the consumer's account will vary in amount from the previous transfer under the same authorization or from [[Page 117]] the preauthorized amount, the designated payee or the financial institution shall send the consumer written notice of the amount and date of the transfer at least 10 days before the scheduled date of transfer. (2) Range. The designated payee or the institution shall inform the consumer of the right to receive notice of all varying transfers, but may give the consumer the option of receiving notice only when a transfer falls outside a specified range of amounts or only when a transfer differs from the most recent transfer by more than an agreed- upon amount. (e) Compulsory use--(1) Credit. No financial institution or other person may condition an extension of credit to a consumer on the consumer's repayment by preauthorized electronic fund transfers, except for credit extended under an overdraft credit plan or extended to maintain a specified minimum balance in the consumer's account. (2) Employment or government benefit. No financial institution or other person may require a consumer to establish an account for receipt of electronic fund transfers with a particular institution as a condition of employment or receipt of a government benefit. Sec. 205.11 Procedures for resolving errors. (a) Definition of error--(1) Types of transfers or inquiries covered. The term error means: (i) An unauthorized electronic fund transfer; (ii) An incorrect electronic fund transfer to or from the consumer's account; (iii) The omission of an electronic fund transfer from a periodic statement; (iv) A computational or bookkeeping error made by the financial institution relating to an electronic fund transfer; (v) The consumer's receipt of an incorrect amount of money from an electronic terminal; (vi) An electronic fund transfer not identified in accordance with Sec. Sec. 205.9 or 205.10(a); or (vii) The consumer's request for documentation required by Sec. Sec. 205.9 or 205.10(a) or for additional information or clarification concerning an electronic fund transfer, including a request the consumer makes to determine whether an error exists under paragraphs (a)(1) (i) through (vi) of this section. (2) Types of inquiries not covered. The term error does not include: (i) A routine inquiry about the consumer's account balance; (ii) A request for information for tax or other recordkeeping purposes; or (iii) A request for duplicate copies of documentation. (b) Notice of error from consumer--(1) Timing; contents. A financial institution shall comply with the requirements of this section with respect to any oral or written notice of error from the consumer that: (i) Is received by the institution no later than 60 days after the institution sends the periodic statement or provides the passbook documentation, required by Sec. 205.9, on which the alleged error is first reflected; (ii) Enables the institution to identify the consumer's name and account number; and (iii) Indicates why the consumer believes an error exists and includes to the extent possible the type, date, and amount of the error, except for requests described in paragraph (a)(1)(vii) of this section. (2) Written confirmation. A financial institution may require the consumer to give written confirmation of an error within 10 business days of an oral notice. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification. (3) Request for documentation or clarifications. When a notice of error is based on documentation or clarification that the consumer requested under paragraph (a)(1)(vii) of this section, the consumer's notice of error is timely if received by the financial institution no later than 60 days after the institution sends the information requested. (c) Time limits and extent of investigation--(1) Ten-day period. A financial institution shall investigate promptly and, except as otherwise provided in [[Page 118]] this paragraph (c), shall determine whether an error occurred within 10 business days of receiving a notice of error. The institution shall report the results to the consumer within three business days after completing its investigation. The institution shall correct the error within one business day after determining that an error occurred. (2) Forty-five day period. If the financial institution is unable to complete its investigation within 10 business days, the institution may take up to 45 days from receipt of a notice of error to investigate and determine whether an error occurred, provided the institution does the following: (i) Provisionally credits the consumer's account in the amount of the alleged error (including interest where applicable) within 10 business days of receiving the error notice. If the financial institution has a reasonable basis for believing that an unauthorized electronic fund transfer has occurred and the institution has satisfied the requirements of Sec. 205.6(a), the institution may withhold a maximum of $50 from the amount credited. An institution need not provisionally credit the consumer's account if: (A) The institution requires but does not receive written confirmation within 10 business days of an oral notice of error; or (B) The alleged error involves an account that is subject to Regulation T (Securities Credit by Brokers and Dealers, 12 CFR part 220); (ii) Informs the consumer, within two business days after the provisional crediting, of the amount and date of the provisional crediting and gives the consumer full use of the funds during the investigation; (iii) Corrects the error, if any, within one business day after determining that an error occurred; and (iv) Reports the results to the consumer within three business days after completing its investigation (including, if applicable, notice that a provisional credit has been made final). (3) Extension of time periods. The time periods in paragraphs (c)(1) and (c)(2) of this section are extended as follows: (i) The applicable time is 20 business days in place of 10 business days under paragraphs (c)(1) and (c)(2) of this section if the notice of error involves an electronic fund transfer to or from the account within 30 days after the first deposit to the account was made. (ii) The applicable time is 90 days in place of 45 days under paragraph (c)(2) of this section, for completing an investigation, if a notice of error involves an electronic fund transfer that: (A) Was not initiated within a state; (B) Resulted from a point-of-sale debit card transaction; or (C) Occurred within 30 days after the first deposit to the account was made. (4) Investigation. With the exception of transfers covered by Sec. 205.14, a financial institution's review of its own records regarding an alleged error satisfies the requirements of this section if: (i) The alleged error concerns a transfer to or from a third party; and (ii) There is no agreement between the institution and the third party for the type of electronic fund transfer involved. (d) Procedures if financial institution determines no error or different error occurred. In addition to following the procedures specified in paragraph (c) of this section, the financial institution shall follow the procedures set forth in this paragraph (d) if it determines that no error occurred or that an error occurred in a manner or amount different from that described by the consumer: (1) Written explanation. The institution's report of the results of its investigation shall include a written explanation of the institution's findings and shall note the consumer's right to request the documents that the institution relied on in making its determination. Upon request, the institution shall promptly provide copies of the documents. (2) Debiting provisional credit. Upon debiting a provisionally credited amount, the financial institution shall: (i) Notify the consumer of the date and amount of the debiting; (ii) Notify the consumer that the institution will honor checks, drafts, or similar instruments payable to third parties and preauthorized transfers from the consumer's account (without charge to the consumer as a result of an overdraft) for five business days [[Page 119]] after the notification. The institution shall honor items as specified in the notice, but need honor only items that it would have paid if the provisionally credited funds had not been debited. (e) Reassertion of error. A financial institution that has fully complied with the error resolution requirements has no further responsibilities under this section should the consumer later reassert the same error, except in the case of an error asserted by the consumer following receipt of information provided under paragraph (a)(1)(vii) of this section. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 63 FR 52118, Sept. 29, 1998] Sec. 205.12 Relation to other laws. (a) Relation to Truth in Lending. (1) The Electronic Fund Transfer Act and this part govern-- (i) The addition to an accepted credit card as defined in Regulation Z (12 CFR 226.12, comment 12-2), of the capability to initiate electronic fund transfers; (ii) The issuance of an access device that permits credit extensions (under a preexisting agreement between a consumer and a financial institution) only when the consumer's account is overdrawn or to maintain a specified minimum balance in the consumer's account, or under an overdraft service, as defined in Sec. 205.17(a); (iii) The addition of an overdraft service, as defined in Sec. 205.17(a), to an accepted access device; and (iv) A consumer's liability for an unauthorized electronic fund transfer and the investigation of errors involving an extension of credit that occurs under an agreement between the consumer and a financial institution to extend credit when the consumer's account is overdrawn or to maintain a specified minimum balance in the consumer's account, or under an overdraft service, as defined in Sec. 205.17(a). (2) The Truth in Lending Act and Regulation Z (12 CFR part 226), which prohibit the unsolicited issuance of credit cards, govern-- (i) The addition of a credit feature to an accepted access device; and (ii) Except as provided in paragraph (a)(1)(ii) of this section, the issuance of a credit card that is also an access device. (b) Preemption of inconsistent state laws--(1) Inconsistent requirements. The Board shall determine, upon its own motion or upon the request of a state, financial institution, or other interested party, whether the act and this part preempt state law relating to electronic fund transfers, or dormancy, inactivity, or service fees, or expiration dates in the case of gift certificates, store gift cards, or general-use prepaid cards. (2) Standards for determination. State law is inconsistent with the requirements of the act and this part if it: (i) Requires or permits a practice or act prohibited by the federal law; (ii) Provides for consumer liability for unauthorized electronic fund transfers that exceeds the limits imposed by the federal law; (iii) Allows longer time periods than the federal law for investigating and correcting alleged errors, or does not require the financial institution to credit the consumer's account during an error investigation in accordance with Sec. 205.11(c)(2)(i); or (iv) Requires initial disclosures, periodic statements, or receipts that are different in content from those required by the federal law except to the extent that the disclosures relate to consumer rights granted by the state law and not by the federal law. (c) State exemptions--(1) General rule. Any state may apply for an exemption from the requirements of the act or this part for any class of electronic fund transfers within the state. The Board shall grant an exemption if it determines that: (i) Under state law the class of electronic fund transfers is subject to requirements substantially similar to those imposed by the federal law; and (ii) There is adequate provision for state enforcement. (2) Exception. To assure that the federal and state courts continue to have concurrent jurisdiction, and to aid in implementing the act: (i) No exemption shall extend to the civil liability provisions of section 915 of the act; and (ii) When the Board grants an exemption, the state law requirements shall constitute the requirements of the federal law for purposes of section 915 of [[Page 120]] the act, except for state law requirements not imposed by the federal law. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 74 FR 59052, Nov. 17, 2009; 75 FR 16614, Apr. 1, 2010] Sec. 205.13 Administrative enforcement; record retention. (a) Enforcement by federal agencies. Compliance with this part is enforced by the agencies listed in Appendix B of this part. (b) Record retention. (1) Any person subject to the act and this part shall retain evidence of compliance with the requirements imposed by the act and this part for a period of not less than two years from the date disclosures are required to be made or action is required to be taken. (2) Any person subject to the act and this part having actual notice that it is the subject of an investigation or an enforcement proceeding by its enforcement agency, or having been served with notice of an action filed under sections 910, 915, or 916(a) of the act, shall retain the records that pertain to the investigation, action, or proceeding until final disposition of the matter unless an earlier time is allowed by court or agency order. Sec. 205.14 Electronic fund transfer service provider not holding consumer's account. (a) Provider of electronic fund transfer service. A person that provides an electronic fund transfer service to a consumer but that does not hold the consumer's account is subject to all requirements of this part if the person: (1) Issues a debit card (or other access device) that the consumer can use to access the consumer's account held by a financial institution; and (2) Has no agreement with the account-holding institution regarding such access. (b) Compliance by service provider. In addition to the requirements generally applicable under this part, the service provider shall comply with the following special rules: (1) Disclosures and documentation. The service provider shall give the disclosures and documentation required by Sec. Sec. 205.7, 205.8, and 205.9 that are within the purview of its relationship with the consumer. The service provider need not furnish the periodic statement required by Sec. 205.9(b) if the following conditions are met: (i) The debit card (or other access device) issued to the consumer bears the service provider's name and an address or telephone number for making inquiries or giving notice of error; (ii) The consumer receives a notice concerning use of the debit card that is substantially similar to the notice contained in appendix A of this part; (iii) The consumer receives, on or with the receipts required by Sec. 205.9(a), the address and telephone number to be used for an inquiry, to give notice of an error, or to report the loss or theft of the debit card; (iv) The service provider transmits to the account-holding institution the information specified in Sec. 205.9(b)(1), in the format prescribed by the automated clearinghouse system used to clear the fund transfers; (v) The service provider extends the time period for notice of loss or theft of a debit card, set forth in Sec. 205.6(b) (1) and (2), from two business days to four business days after the consumer learns of the loss or theft; and extends the time periods for reporting unauthorized transfers or errors, set forth in Sec. Sec. 205.6(b)(3) and 205.11(b)(1)(i), from 60 days to 90 days following the transmittal of a periodic statement by the account-holding institution. (2) Error resolution. (i) The service provider shall extend by a reasonable time the period in which notice of an error must be received, specified in Sec. 205.11(b)(1)(i), if a delay resulted from an initial attempt by the consumer to notify the account-holding institution. (ii) The service provider shall disclose to the consumer the date on which it initiates a transfer to effect a provisional credit in accordance with Sec. 205.11(c)(2)(ii). (iii) If the service provider determines an error occurred, it shall transfer funds to or from the consumer's account, in the appropriate amount and within the applicable time period, in accordance with Sec. 205.11(c)(2)(i). (iv) If funds were provisionally credited and the service provider determines no error occurred, it may reverse the credit. The service provider shall [[Page 121]] notify the account-holding institution of the period during which the account-holding institution must honor debits to the account in accordance with Sec. 205.11(d)(2)(ii). If an overdraft results, the service provider shall promptly reimburse the account-holding institution in the amount of the overdraft. (c) Compliance by account-holding institution. The account-holding institution need not comply with the requirements of the act and this part with respect to electronic fund transfers initiated through the service provider except as follows: (1) Documentation. The account-holding institution shall provide a periodic statement that describes each electronic fund transfer initiated by the consumer with the access device issued by the service provider. The account-holding institution has no liability for the failure to comply with this requirement if the service provider did not provide the necessary information; and (2) Error resolution. Upon request, the account-holding institution shall provide information or copies of documents needed by the service provider to investigate errors or to furnish copies of documents to the consumer. The account-holding institution shall also honor debits to the account in accordance with Sec. 205.11(d)(2)(ii). Sec. 205.15 Electronic fund transfer of government benefits. (a) Government agency subject to regulation. (1) A government agency is deemed to be a financial institution for purposes of the act and this part if directly or indirectly it issues an access device to a consumer for use in initiating an electronic fund transfer of government benefits from an account, other than needs-tested benefits in a program established under state or local law or administered by a state or local agency. The agency shall comply with all applicable requirements of the act and this part, except as provided in this section. (2) For purposes of this section, the term account means an account established by a government agency for distributing government benefits to a consumer electronically, such as through automated teller machines or point-of-sale terminals, but does not include an account for distributing needs-tested benefits in a program established under state or local law or administered by a state or local agency. (b) Issuance of access devices. For purposes of this section, a consumer is deemed to request an access device when the consumer applies for government benefits that the agency disburses or will disburse by means of an electronic fund transfer. The agency shall verify the identity of the consumer receiving the device by reasonable means before the device is activated. (c) Alternative to periodic statement. A government agency need not furnish the periodic statement required by Sec. 205.9(b) if the agency makes available to the consumer: (1) The consumer's account balance, through a readily available telephone line and at a terminal (such as by providing balance information at a balance-inquiry terminal or providing it, routinely or upon request, on a terminal receipt at the time of an electronic fund transfer); and (2) A written history of the consumer's account transactions that is provided promptly in response to an oral or written request and that covers at least 60 days preceding the date of a request by the consumer. (d) Modified requirements. A government agency that does not furnish periodic statements, in accordance with paragraph (c) of this section, shall comply with the following special rules: (1) Initial disclosures. The agency shall modify the disclosures under Sec. 205.7(b) by disclosing: (i) Account balance. The means by which the consumer may obtain information concerning the account balance, including a telephone number. The agency provides a notice substantially similar to the notice contained in paragraph A-5 in appendix A of this part. (ii) Written account history. A summary of the consumer's right to receive a written account history upon request, in place of the periodic statement required by Sec. 205.7(b)(6), and the telephone number to call to request an account history. This disclosure may [[Page 122]] be made by providing a notice substantially similar to the notice contained in paragraph A-5 in appendix A of this part. (iii) Error resolution. A notice concerning error resolution that is substantially similar to the notice contained in paragraph A-5 in appendix A of this part, in place of the notice required by Sec. 205.7(b)(10). (2) Annual error resolution notice. The agency shall provide an annual notice concerning error resolution that is substantially similar to the notice contained in paragraph A-5 in appendix A, in place of the notice required by Sec. 205.8(b). (3) Limitations on liability. For purposes of Sec. 205.6(b)(3), regarding a 60-day period for reporting any unauthorized transfer that appears on a periodic statement, the 60-day period shall begin with transmittal of a written account history or other account information provided to the consumer under paragraph (c) of this section. (4) Error resolution. The agency shall comply with the requirements of Sec. 205.11 in response to an oral or written notice of an error from the consumer that is received no later than 60 days after the consumer obtains the written account history or other account information, under paragraph (c) of this section, in which the error is first reflected. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 62 FR 43469, Aug. 14, 1997] Sec. 205.16 Disclosures at automated teller machines. (a) Definition. Automated teller machine operator means any person that operates an automated teller machine at which a consumer initiates an electronic fund transfer or a balance inquiry and that does not hold the account to or from which the transfer is made, or about which an inquiry is made. (b) General. An automated teller machine operator that imposes a fee on a consumer for initiating an electronic fund transfer or a balance inquiry shall: (1) Provide notice that a fee will be imposed for providing electronic fund transfer services or a balance inquiry; and (2) Disclose the amount of the fee. (c) Notice requirement. To meet the requirements of paragraph (b) of this section, an automated teller machine operator must comply with the following: (1) On the machine. Post in a prominent and conspicuous location on or at the automated teller machine a notice that: (i) A fee will be imposed for providing electronic fund transfer services or for a balance inquiry; or (ii) A fee may be imposed for providing electronic fund transfer services or for a balance inquiry, but the notice in this paragraph (c)(1)(ii) may be substituted for the notice in paragraph (c)(1)(i) only if there are circumstances under which a fee will not be imposed for such services; and (2) Screen or paper notice. Provide the notice required by paragraphs (b)(1) and (b)(2) of this section either by showing it on the screen of the automated teller machine or by providing it on paper, before the consumer is committed to paying a fee. (d) Temporary exemption. Through December 31, 2004, the notice requirement in paragraph (c)(2) of this section does not apply to any automated teller machine that lacks the technical capability to provide such information. (e) Imposition of fee. An automated teller machine operator may impose a fee on a consumer for initiating an electronic fund transfer or a balance inquiry only if (1) The consumer is provided the notices required under paragraph (c) of this section, and (2) The consumer elects to continue the transaction or inquiry after receiving such notices. [Reg. E, 66 FR 13412, Mar. 6, 2001, as amended at 71 FR 1659, Jan. 10, 2006] Sec. 205.17 Requirements for overdraft services. (a) Definition. For purposes of this section, the term ``overdraft service'' means a service under which a financial institution assesses a fee or charge on a consumer's account held by the institution for paying a transaction (including a check or other item) when the consumer has insufficient or unavailable funds in the account. The [[Page 123]] term ``overdraft service'' does not include any payment of overdrafts pursuant to-- (1) A line of credit subject to the Federal Reserve Board's Regulation Z (12 CFR part 226), including transfers from a credit card account, home equity line of credit, or overdraft line of credit; (2) A service that transfers funds from another account held individually or jointly by a consumer, such as a savings account; or (3) A line of credit or other transaction exempt from the Federal Reserve Board's Regulation Z (12 CFR part 226) pursuant to 12 CFR 226.3(d). (b) Opt-in requirement--(1) General. Except as provided under paragraph (c) of this section, a financial institution holding a consumer's account shall not assess a fee or charge on a consumer's account for paying an ATM or one-time debit card transaction pursuant to the institution's overdraft service, unless the institution: (i) Provides the consumer with a notice in writing, or if the consumer agrees, electronically, segregated from all other information, describing the institution's overdraft service; (ii) Provides a reasonable opportunity for the consumer to affirmatively consent, or opt in, to the service for ATM and one-time debit card transactions; (iii) Obtains the consumer's affirmative consent, or opt-in, to the institution's payment of ATM or one-time debit card transactions; and (iv) Provides the consumer with confirmation of the consumer's consent in writing, or if the consumer agrees, electronically, which includes a statement informing the consumer of the right to revoke such consent. (2) Conditioning payment of other overdrafts on consumer's affirmative consent. A financial institution shall not: (i) Condition the payment of any overdrafts for checks, ACH transactions, and other types of transactions on the consumer affirmatively consenting to the institution's payment of ATM and one- time debit card transactions pursuant to the institution's overdraft service; or (ii) Decline to pay checks, ACH transactions, and other types of transactions that overdraw the consumer's account because the consumer has not affirmatively consented to the institution's overdraft service for ATM and one-time debit card transactions. (3) Same account terms, conditions, and features. A financial institution shall provide to consumers who do not affirmatively consent to the institution's overdraft service for ATM and one-time debit card transactions the same account terms, conditions, and features that it provides to consumers who affirmatively consent, except for the overdraft service for ATM and one-time debit card transactions. (c) Timing--(1) Existing account holders. For accounts opened prior to July 1, 2010, the financial institution must not assess any fees or charges on a consumer's account on or after August 15, 2010 for paying an ATM or one-time debit card transaction pursuant to the overdraft service, unless the institution has complied with Sec. 205.17(b)(1) and obtained the consumer's affirmative consent. (2) New account holders. For accounts opened on or after July 1, 2010, the financial institution must comply with Sec. 205.17(b)(1) and obtain the consumer's affirmative consent before the institution assesses any fee or charge on the consumer's account for paying an ATM or one-time debit card transaction pursuant to the institution's overdraft service. (d) Content and format. The notice required by paragraph (b)(1)(i) of this section shall be substantially similar to Model Form A-9 set forth in Appendix A of this part, include all applicable items in this paragraph, and may not contain any information not specified in or otherwise permitted by this paragraph. (1) Overdraft service. A brief description of the financial institution's overdraft service and the types of transactions for which a fee or charge for paying an overdraft may be imposed, including ATM and one-time debit card transactions. (2) Fees imposed. The dollar amount of any fees or charges assessed by the financial institution for paying an ATM or one-time debit card transaction pursuant to the institution's overdraft service, including any daily or other overdraft fees. If the amount of the fee [[Page 124]] is determined on the basis of the number of times the consumer has overdrawn the account, the amount of the overdraft, or other factors, the institution must disclose the maximum fee that may be imposed. (3) Limits on fees charged. The maximum number of overdraft fees or charges that may be assessed per day, or, if applicable, that there is no limit. (4) Disclosure of opt-in right. An explanation of the consumer's right to affirmatively consent to the financial institution's payment of overdrafts for ATM and one-time debit card transactions pursuant to the institution's overdraft service, including the methods by which the consumer may consent to the service; and (5) Alternative plans for covering overdrafts. If the institution offers a line of credit subject to the Board's Regulation Z (12 CFR part 226) or a service that transfers funds from another account of the consumer held at the institution to cover overdrafts, the institution must state that fact. An institution may, but is not required to, list additional alternatives for the payment of overdrafts. (6) Permitted modifications and additional content. If applicable, the institution may modify the content required by Sec. 205.17(d) to indicate that the consumer has the right to opt into, or opt out of, the payment of overdrafts under the institution's overdraft service for other types of transactions, such as checks, ACH transactions, or automatic bill payments; to provide a means for the consumer to exercise this choice; and to disclose the associated returned item fee and that additional merchant fees may apply. The institution may also disclose the consumer's right to revoke consent. For notices provided to consumers who have opened accounts prior to July 1, 2010, the financial institution may describe the institution's overdraft service with respect to ATM and one-time debit card transactions with a statement such as ``After August 15, 2010, we will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below).'' (e) Joint relationships. If two or more consumers jointly hold an account, the financial institution shall treat the affirmative consent of any of the joint consumers as affirmative consent for that account. Similarly, the financial institution shall treat a revocation of affirmative consent by any of the joint consumers as revocation of consent for that account. (f) Continuing right to opt in or to revoke the opt-in. A consumer may affirmatively consent to the financial institution's overdraft service at any time in the manner described in the notice required by paragraph (b)(1)(i) of this section. A consumer may also revoke consent at any time in the manner made available to the consumer for providing consent. A financial institution must implement a consumer's revocation of consent as soon as reasonably practicable. (g) Duration and revocation of opt-in. A consumer's affirmative consent to the institution's overdraft service is effective until revoked by the consumer, or unless the financial institution terminates the service. [Reg. E, 74 FR 59052, Nov. 17, 2009, as amended at 75 FR 31671, June 4, 2010] Sec. 205.18 Requirements for financial institutions offering payroll card accounts. (a) Coverage. A financial institution shall comply with all applicable requirements of the act and this part with respect to payroll card accounts except as provided in this section. (b) Alternative to periodic statements. (1) A financial institution need not furnish periodic statements required by Sec. 205.9(b) if the institution makes available to the consumer-- (i) The consumer's account balance, through a readily available telephone line; (ii) An electronic history of the consumer's account transactions, such as through an Internet Web site, that covers at least 60 days preceding the date the consumer electronically accesses the account; and (iii) A written history of the consumer's account transactions that is provided promptly in response to an oral or written request and that covers at least 60 days preceding the date the financial institution receives the consumer's request. [[Page 125]] (2) The history of account transactions provided under paragraphs (b)(1)(ii) and (iii) of this section must include the information set forth in Sec. 205.9(b). (c) Modified requirements. A financial institution that provides information under paragraph (b) of this section, shall comply with the following: (1) Initial disclosures. The financial institution shall modify the disclosures under Sec. 205.7(b) by disclosing-- (i) Account information. A telephone number that the consumer may call to obtain the account balance, the means by which the consumer can obtain an electronic account history, such as the address of an Internet Web site, and a summary of the consumer's right to receive a written account history upon request (in place of the summary of the right to receive a periodic statement required by Sec. 205.7(b)(6)), including a telephone number to call to request a history. The disclosure required by this paragraph (c)(1)(i) may be made by providing a notice substantially similar to the notice contained in paragraph A-7(a) in appendix A of this part. (ii) Error resolution. A notice concerning error resolution that is substantially similar to the notice contained in paragraph A-7(b) in appendix A of this part, in place of the notice required by Sec. 205.7(b)(10). (2) Annual error resolution notice. The financial institution shall provide an annual notice concerning error resolution that is substantially similar to the notice contained in paragraph A-7(b) in appendix A of this part, in place of the notice required by Sec. 205.8(b). Alternatively, a financial institution may include on or with each electronic and written history provided in accordance with Sec. 205.18(b)(1), a notice substantially similar to the abbreviated notice for periodic statements contained in paragraph A-3(b) in appendix A of this part, modified as necessary to reflect the error resolution provisions set forth in this section. (3) Limitations on liability. (i) For purposes of Sec. 205.6(b)(3), the 60-day period for reporting any unauthorized transfer shall begin on the earlier of: (A) The date the consumer electronically accesses the consumer's account under paragraph (b)(1)(ii) of this section, provided that the electronic history made available to the consumer reflects the transfer; or (B) The date the financial institution sends a written history of the consumer's account transactions requested by the consumer under paragraph (b)(1)(iii) of this section in which the unauthorized transfer is first reflected. (ii) A financial institution may comply with paragraph (c)(3)(i) of this section by limiting the consumer's liability for an unauthorized transfer as provided under Sec. 205.6(b)(3) for any transfer reported by the consumer within 120 days after the transfer was credited or debited to the consumer's account. (4) Error resolution. (i) The financial institution shall comply with the requirements of Sec. 205.11 in response to an oral or written notice of an error from the consumer that is received by the earlier of-- (A) Sixty days after the date the consumer electronically accesses the consumer's account under paragraph (b)(1)(ii) of this section, provided that the electronic history made available to the consumer reflects the alleged error; or (B) Sixty days after the date the financial institution sends a written history of the consumer's account transactions requested by the consumer under paragraph (b)(1)(iii) of this section in which the alleged error is first reflected. (ii) In lieu of following the procedures in paragraph (c)(4)(i) of this section, a financial institution complies with the requirements for resolving errors in Sec. 205.11 if it investigates any oral or written notice of an error from the consumer that is received by the institution within 120 days after the transfer allegedly in error was credited or debited to the consumer's account. [Reg. E, 71 FR 51449, Aug. 30, 2006] Sec. 205.20 Requirements for gift cards and gift certificates. (a) Definitions. For purposes of this section, except as excluded under paragraph (b), the following definitions apply: (1) Gift certificate means a card, code, or other device that is: [[Page 126]] (i) Issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in a specified amount that may not be increased or reloaded in exchange for payment; and (ii) Redeemable upon presentation at a single merchant or an affiliated group of merchants for goods or services. (2) Store gift card means a card, code, or other device that is: (i) Issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in a specified amount, whether or not that amount may be increased or reloaded, in exchange for payment; and (ii) Redeemable upon presentation at a single merchant or an affiliated group of merchants for goods or services. (3) General-use prepaid card means a card, code, or other device that is: (i) Issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in a specified amount, whether or not that amount may be increased or reloaded, in exchange for payment; and (ii) Redeemable upon presentation at multiple, unaffiliated merchants for goods or services, or usable at automated teller machines. (4) Loyalty, award, or promotional gift card means a card, code, or other device that: (i) Is issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in connection with a loyalty, award, or promotional program; (ii) Is redeemable upon presentation at one or more merchants for goods or services, or usable at automated teller machines; and (iii) Sets forth the following disclosures, as applicable: (A) A statement indicating that the card, code, or other device is issued for loyalty, award, or promotional purposes, which must be included on the front of the card, code, or other device; (B) The expiration date for the underlying funds, which must be included on the front of the card, code, or other device; (C) The amount of any fees that may be imposed in connection with the card, code, or other device, and the conditions under which they may be imposed, which must be provided on or with the card, code, or other device; and (D) A toll-free telephone number and, if one is maintained, a Web site, that a consumer may use to obtain fee information, which must be included on the card, code, or other device. (5) Dormancy or inactivity fee. The terms ``dormancy fee'' and ``inactivity fee'' mean a fee for non-use of or inactivity on a gift certificate, store gift card, or general-use prepaid card. (6) Service fee. The term ``service fee'' means a periodic fee for holding or use of a gift certificate, store gift card, or general-use prepaid card. A periodic fee includes any fee that may be imposed on a gift certificate, store gift card, or general-use prepaid card from time to time for holding or using the certificate or card. (7) Activity. The term ``activity'' means any action that results in an increase or decrease of the funds underlying a certificate or card, other than the imposition of a fee, or an adjustment due to an error or a reversal of a prior transaction. (b) Exclusions. The terms ``gift certificate,'' ``store gift card,'' and ``general-use prepaid card'', as defined in paragraph (a) of this section, do not include any card, code, or other device that is: (1) Useable solely for telephone services; (2) Reloadable and not marketed or labeled as a gift card or gift certificate. For purposes of this paragraph (b)(2), the term ``reloadable'' includes a temporary non-reloadable card issued solely in connection with a reloadable card, code, or other device; (3) A loyalty, award, or promotional gift card; (4) Not marketed to the general public; (5) Issued in paper form only; or (6) Redeemable solely for admission to events or venues at a particular location or group of affiliated locations, or to obtain goods or services in conjunction with admission to such events or venues, at the event or venue or at specific locations affiliated with and in geographic proximity to the event or venue. [[Page 127]] (c) Form of disclosures--(1) Clear and conspicuous. Disclosures made under this section must be clear and conspicuous. The disclosures may contain commonly accepted or readily understandable abbreviations or symbols. (2) Format. Disclosures made under this section generally must be provided to the consumer in written or electronic form. Except for the disclosures in paragraphs (c)(3) and (h)(2), written and electronic disclosures made under this section must be in a retainable form. Only disclosures provided under paragraphs (c)(3) and (h)(2) of this section may be given orally. (3) Disclosures prior to purchase. Before a gift certificate, store gift card, or general-use prepaid card is purchased, a person that issues or sells such certificate or card must disclose to the consumer the information required by paragraphs (d)(2), (e)(3), and (f)(1) of this section. The fees and terms and conditions of expiration that are required to be disclosed prior to purchase may not be changed after purchase. (4) Disclosures on the certificate or card. Disclosures required by paragraphs (a)(4)(iii), (d)(2), (e)(3), and (f)(2) of this section must be made on the certificate or card, or in the case of a loyalty, award, or promotional gift card, on the card, code, or other device. A disclosure made in an accompanying terms and conditions document, on packaging surrounding a certificate or card, or on a sticker or other label affixed to the certificate or card does not constitute a disclosure on the certificate or card. For an electronic certificate or card, disclosures must be provided electronically on the certificate or card provided to the consumer. An issuer that provides a code or confirmation to a consumer orally must provide to the consumer a written or electronic copy of the code or confirmation promptly, and the applicable disclosures must be provided on the written copy of the code or confirmation. (d) Prohibition on imposition of fees or charges. No person may impose a dormancy, inactivity, or service fee with respect to a gift certificate, store gift card, or general-use prepaid card, unless: (1) There has been no activity with respect to the certificate or card, in the one-year period ending on the date on which the fee is imposed; (2) The following are stated, as applicable, clearly and conspicuously on the gift certificate, store gift card, or general-use prepaid card: (i) The amount of any dormancy, inactivity, or service fee that may be charged; (ii) How often such fee may be assessed; and (iii) That such fee may be assessed for inactivity; and (3) Not more than one dormancy, inactivity, or service fee is imposed in any given calendar month. (e) Prohibition on sale of gift certificates or cards with expiration dates. No person may sell or issue a gift certificate, store gift card, or general-use prepaid card with an expiration date, unless: (1) The person has established policies and procedures to provide consumers with a reasonable opportunity to purchase a certificate or card with at least five years remaining until the certificate or card expiration date; (2) The expiration date for the underlying funds is at least the later of: (i) Five years after the date the gift certificate was initially issued, or the date on which funds were last loaded to a store gift card or general-use prepaid card; or (ii) The certificate or card expiration date, if any; (3) The following disclosures are provided on the certificate or card, as applicable: (i) The expiration date for the underlying funds or, if the underlying funds do not expire, that fact; (ii) A toll-free telephone number and, if one is maintained, a Web site that a consumer may use to obtain a replacement certificate or card after the certificate or card expires if the underlying funds may be available; and (iii) Except where a non-reloadable certificate or card bears an expiration date that is at least seven years from the date of manufacture, a statement, disclosed with equal prominence and in close proximity to the certificate or card expiration date, that: [[Page 128]] (A) The certificate or card expires, but the underlying funds either do not expire or expire later than the certificate or card, and; (B) The consumer may contact the issuer for a replacement card; and (4) No fee or charge is imposed on the cardholder for replacing the gift certificate, store gift card, or general-use prepaid card or for providing the certificate or card holder with the remaining balance in some other manner prior to the funds expiration date, unless such certificate or card has been lost or stolen. (f) Additional disclosure requirements for gift certificates or cards. The following disclosures must be provided in connection with a gift certificate, store gift card, or general-use prepaid card, as applicable: (1) Fee disclosures. For each type of fee that may be imposed in connection with the certificate or card (other than a dormancy, inactivity, or service fee subject to the disclosure requirements under paragraph (d)(2) of this section), the following information must be provided on or with the certificate or card: (i) The type of fee; (ii) The amount of the fee (or an explanation of how the fee will be determined); and (iii) The conditions under which the fee may be imposed. (2) Telephone number for fee information. A toll-free telephone number and, if one is maintained, a Web site, that a consumer may use to obtain information about fees described in paragraphs (d)(2) and (f)(1) of this section must be disclosed on the certificate or card. (g) Compliance dates--(1) Effective date for gift certificates, store gift cards, and general-use prepaid cards. Except as provided in paragraph (h), the requirements of this section apply to any gift certificate, store gift card, or general-use prepaid card sold to a consumer on or after August 22, 2010, or provided to a consumer as a replacement for such certificate or card. (2) Effective date for loyalty, award, or promotional gift cards. The requirements in paragraph (a)(4)(iii) apply to any card, code, or other device provided to a consumer in connection with a loyalty, award, or promotional program if the period of eligibility for such program began on or after August 22, 2010. (h) Temporary exemption--(1) Delayed effective date. For any gift certificate, store gift card, or general-use prepaid card produced prior to April 1, 2010, the effective date of the requirements of paragraphs (c)(3), (d)(2), (e)(1), (e)(3), and (f) of this section is January 31, 2011, provided that an issuer of such certificate or card: (i) Complies with all other provisions of this section; (ii) Does not impose an expiration date with respect to the funds underlying such certificate or card; (iii) At the consumer's request, replaces such certificate or card if it has funds remaining at no cost to the consumer; and (iv) Satisfies the requirements of paragraph (h)(2) of this section. (2) Additional disclosures. Issuers relying on the delayed effective date in Sec. 205.20(h)(1) must disclose through in-store signage, messages during customer service calls, Web sites, and general advertising, that: (i) The underlying funds of such certificate or card do not expire; (ii) Consumers holding such certificate or card have a right to a free replacement certificate or card, which must be accompanied by the packaging and materials typically associated with such certificate or card; and (iii) Any dormancy, inactivity, or service fee for such certificate or card that might otherwise be charged will not be charged if such fees do not comply with Section 915 of the Electronic Fund Transfer Act. (3) Expiration of additional disclosure requirements. The disclosures in paragraph (h)(2) of this section: (i) Are not required to be provided on or after January 31, 2011, with respect to in-store signage and general advertising. (ii) Are not required to be provided on or after January 31, 2013, with respect to messages during customer service calls and Web sites. [Reg. E, 75 FR 16614, Apr. 1, 2010, as amended at 75 FR 50687, Aug. 17, 2010; 75 FR 66648, Oct. 29, 2010] [[Page 129]] Sec. Appendix A to Part 205--Model Disclosure Clauses and Forms Table of Contents A-1--Model Clauses for unsolicited issuance (Sec. 205.5(b)(2)) A-2--Model clauses for initial disclosures (Sec. 205.7(b)) A-3--Model forms for error resolution notice (Sec. Sec. 205.7(b)(10) and 205.8(b)) A-4--Model form for service-providing institutions (Sec. 205.14(b)(1)(ii)) A-5--Model forms for government agencies (Sec. 205.15(d)(1) and (2)) A-9 Model Consent Form for Overdraft Services (Sec. 205.17) A-1--Model Clauses For Unsolicited Issuance (Sec. 205.5(b)(2)) (a) Accounts using cards. You cannot use the enclosed card to transfer money into or out of your account until we have validated it. If you do not want to use the card, please (destroy it at once by cutting it in half). [Financial institution may add validation instructions here.] (b) Accounts using codes. You cannot use the enclosed code to transfer money into or out of your account until we have validated it. If you do not want to use the code, please (destroy this notice at once). [Financial institution may add validation instructions here.] A-2--Model Clauses For Initial Disclosures (Sec. 205.7(b)) (a) Consumer Liability (Sec. 205.7(b)(1)). (Tell us AT ONCE if you believe your [card] [code] has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your [card] [code], you can lose no more than $50 if someone used your [card][code] without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your [card] [code], and we can prove we could have stopped someone from using your [card] [code] without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. (b) Contact in event of unauthorized transfer (Sec. 205.7(b)(2)). If you believe your [card] [code] has been lost or stolen, call: [Telephone number] or write: [Name of person or office to be notified] [Address] You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission. (c) Business days (Sec. 205.7(b)(3)). For purposes of these disclosures, our business days are (Monday through Friday) (Monday through Saturday) (any day including Saturdays and Sundays). Holidays are (not) included. (d) Transfer types and limitations (Sec. 205.7(b)(4))--(1) Account access. You may use your [card][code] to: (i) Withdraw cash from your [checking] [or] [savings] account. (ii) Make deposits to your [checking] [or] [savings] account. (iii) Transfer funds between your checking and savings accounts whenever you request. (iv) Pay for purchases at places that have agreed to accept the [card] [code]. (v) Pay bills directly [by telephone] from your [checking] [or] [savings] account in the amounts and on the days you request. Some of these services may not be available at all terminals. (2) Electronic check conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to: (i) Pay for purchases. (ii) Pay bills. (3) Limitations on frequency of transfers. (i) You may make only [insert number, e.g., 3] cash withdrawals from our terminals each [insert time period, e.g., week]. (ii) You can use your telephone bill-payment service to pay [insert number] bills each [insert time period] [telephone call]. (iii) You can use our point-of-sale transfer service for [insert number] transactions each [insert time period]. (iv) For security reasons, there are limits on the number of transfers you can make using our [terminals] [telephone bill-payment service] [point-of-sale transfer service]. (4) Limitations on dollar amounts of transfers. (i) You may withdraw up to [insert dollar amount] from our terminals each [insert time period] time you use the [card] [code]. (ii) You may buy up to [insert dollar amount] worth of goods or services each [insert time period] time you use the [card] [code] in our point-of-sale transfer service. (e) Fees (Sec. 205.7(b)(5))--(1) Per transfer charge. We will charge you [insert dollar amount] for each transfer you make using our [automated teller machines] [telephone [[Page 130]] bill-payment service] [point-of-sale transfer service]. (2) Fixed charge. We will charge you [insert dollar amount] each [insert time period] for our [automated teller machine service] [telephone bill-payment service] [point-of-sale transfer service]. (3) Average or minimum balance charge. We will only charge you for using our [automated teller machines] [telephone bill-payment service] [point-of-sale transfer service] if the [average] [minimum] balance in your [checking account] [savings account] [accounts] falls below [insert dollar amount]. If it does, we will charge you [insert dollar amount] each [transfer] [insert time period]. (f) Confidentiality (Sec. 205.7(b)(9)). We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) If you give us your written permission. (g) Documentation (Sec. 205.7(b)(6))--(1) Terminal transfers. You can get a receipt at the time you make any transfer to or from your account using one of our [automated teller machines] [or] [point-of-sale terminals]. (2) Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, (we will let you know if the deposit is [not] made.) [the person or company making the deposit will tell you every time they send us the money] [you can call us at (insert telephone number) to find out whether or not the deposit has been made]. (3) Periodic statements. You will get a [monthly] [quarterly] account statement (unless there are no transfers in a particular month. In any case you will get the statement at least quarterly). (4) Passbook account where the only possible electronic fund transfers are preauthorized credits. If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook. (h) Preauthorized payments (Sec. 205.7(b) (6), (7) and (8); Sec. 205.10(d))--(1) Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here's how: Call us at [insert telephone number], or write us at [insert address], in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. (We will charge you [insert amount] for each stop- payment order you give.) (2) Notice of varying amounts. If these regular payments may vary in amount, [we] [the person you are going to pay] will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.) (3) Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. (i) Financial institution's liability (Sec. 205.7(b)(8)). If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the [terminal] [system] was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken. (6) There may be other exceptions stated in our agreement with you. (j) ATM fees (Sec. 205.7(b)(11)). When you use an ATM not owned by us, you may be charged a fee by the ATM operator [or any network used] (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer). A-3--Model Forms For Error Resolution Notice (Sec. Sec. 205.7(b)(10) and 205.8(b)) (a) Initial and annual error resolution notice (Sec. Sec. 205.7(b)(10) and 205.8(b)). In Case of Errors or Questions About Your Electronic Transfers Telephone us at [insert telephone number] Write us at [insert address] [or E-mail us at [insert electronic mail address]] as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. (1) Tell us your name and account number (if any). [[Page 131]] (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign- initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements (Sec. 205.8(b)). In Case of Errors or Questions About Your Electronic Transfers Telephone us at [insert telephone number] or Write us at [insert address] as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. A-4--Model Form For Service-providing Institutions (Sec. 205.14(b)(1)(ii)) ALL QUESTIONS ABOUT TRANSACTIONS MADE WITH YOUR (NAME OF CARD) CARD MUST BE DIRECTED TO US (NAME OF SERVICE PROVIDER), AND NOT TO THE BANK OR OTHER FINANCIAL INSTITUTION WHERE YOU HAVE YOUR ACCOUNT. We are responsible for the [name of service] service and for resolving any errors in transactions made with your [name of card] card. We will not send you a periodic statement listing transactions that you make using your [name of card] card. The transactions will appear only on the statement issued by your bank or other financial institution. SAVE THE RECEIPTS YOU ARE GIVEN WHEN YOU USE YOUR [NAME OF CARD] CARD, AND CHECK THEM AGAINST THE ACCOUNT STATEMENT YOU RECEIVE FROM YOUR BANK OR OTHER FINANCIAL INSTITUTION. If you have any questions about one of these transactions, call or write us at [telephone number and address] [the telephone number and address indicated below]. IF YOUR [NAME OF CARD] CARD IS LOST OR STOLEN, NOTIFY US AT ONCE by calling or writing to us at [telephone number and address]. A-5--Model Forms For Government Agencies(Sec. 205.15(d)(1) and (2)) (a) Disclosure by government agencies of information about obtaining account balances and account histories (Sec. 205.15(d)(1)(i) and (ii)). You may obtain information about the amount of benefits you have remaining by calling [telephone number]. That information is also available [on the receipt you get when you make a transfer with your card at (an ATM)(a POS terminal)][when you make a balance inquiry at an ATM][when you make a balance inquiry at specified locations]. You also have the right to receive a written summary of transactions for the 60 days preceding your request by calling [telephone number]. [Optional: Or you may request the summary by contacting your caseworker.] (b) Disclosure of error resolution procedures for government agencies that do not provide periodic statements (Sec. 205.15(d)(1)(iii) and (d)(2)). In Case of Errors or Questions About Your Electronic Transfers Telephone us at [telephone number] Write us at [insert address] [or E- mail us at [insert electronic mail address]] as soon as you can, if you think an error has occurred in your [EBT][agency's name for program] account. We must hear from you no later than 60 days after you learn of the error. You will need to tell us: Your name and [case] [file] number. [[Page 132]] Why you believe there is an error, and the dollar amount involved. Approximately when the error took place. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign- initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. If you need more information about our error resolution procedures, call us at [telephone number][the telephone number shown above]. A-6 Model Clauses for Authorizing One-Time Electronic Fund Transfers Using Information From a Check (Sec. 205.3(b)(2)) (a)--Notice About Electronic Check Conversion When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction. (b)--Alternative Notice About Electronic Check Conversion (Optional) When you provide a check as payment, you authorize us to use information from your check to make a one-time electronic fund transfer from your account. In certain circumstances, such as for technical or processing reasons, we may process your payment as a check transaction. [Specify other circumstances (at payee's option).] (c)--Notice For Providing Additional Information About Electronic Check Conversion When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day [you make] [we receive] your payment[, and you will not receive your check back from your financial institution]. A-7--Model Clauses for Financial Institutions Offering Payroll Card Accounts (Sec. 205.18(c)) (a)--Disclosure by financial institutions of information about obtaining account information for payroll card accounts. Sec. 205.18(c)(1). You may obtain information about the amount of money you have remaining in your payroll card account by calling [telephone number]. This information, along with a 60-day history of account transactions, is also available on-line at [Internet address]. You also have the right to obtain a 60-day written history of account transactions by calling [telephone number], or by writing us at [address]. (b)--Disclosure of error-resolution procedures for financial institutions that provide alternative means of obtaining payroll card account information (Sec. 205.18(c)(1)(ii) and (c)(2)). In Case of Errors or Questions About Your Payroll Card Account Telephone us at [telephone number] or Write us at [address] [or E-mail us at [electronic mail address]] as soon as you can, if you think an error has occurred in your payroll card account. We must allow you to report an error until 60 days after the earlier of the date you electronically access your account, if the error could be viewed in your electronic history, or the date we sent the FIRST written history on which the error appeared. You may request a written history of your transactions at any time by calling us at [telephone number] or writing us at [address]. You will need to tell us: Your name and [payroll card account] number. Why you believe there is an error, and the dollar amount involved. Approximately when the error took place. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. [[Page 133]] For errors involving new accounts, point-of-sale, or foreign- initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. If you need more information about our error-resolution procedures, call us at [telephone number] [the telephone number shown above] [or visit [Internet address]]. A-8 Model Clause for Electronic Collection of Returned Item Fees (Sec. 205.3(b)(3)) If your payment is returned unpaid, you authorize [us/ name of person collecting the fee electronically] to make a one-time electronic fund transfer from your account to collect a fee of [$____]. [If your payment is returned unpaid, you authorize [us/ name of person collecting the fee electronically] to make a one-time electronic fund transfer from your account to collect a fee. The fee will be determined [by]/ [as follows]: [________________].] A-9 Model Consent Form for Overdraft Services (Sec. 205.17) [[Page 134]] [GRAPHIC] [TIFF OMITTED] TR17NO09.010 [Reg. E, 61 FR 19669, May 2, 1996, as amended at 63 FR 52118, Sept. 29, 1998; 66 FR 13412, Mar. 6, 2001; 66 FR 17793, Apr. 4, 2001; 71 FR 1659, Jan. 10, 2006; 71 FR 51456, Aug. 30, 2006; 71 FR 69437, Dec. 1, 2006; 72 FR 51450, Aug. 30, 2006; 74 FR 59053, Nov. 17, 2009] Sec. Appendix B to Part 205--Federal Enforcement Agencies The following list indicates which Federal agency enforces Regulation E (12 CFR part 205) for particular classes of institutions. Any questions concerning compliance by a particular institution should be directed to the appropriate enforcing agency. Terms that are not defined in the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in the International Banking Act of 1978 (12 U.S.C. 3101). [[Page 135]] National banks, and Federal branches and Federal agencies of foreign banks District office of the Office of the Comptroller of the Currency where the institution is located. State member banks, branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25(a) of the Federal Reserve Act Federal Reserve Bank serving the District in which the institution is located. Nonmember insured banks and insured state branches of foreign banks Federal Deposit Insurance Corporation regional director for the region in which the institution is located. Savings institutions insured under the Savings Association Insurance Fund of the FDIC and federally-chartered savings banks insured under the Bank Insurance Fund of the FDIC (but not including state-chartered savings banks insured under the Bank Insurance Fund) Office of Thrift Supervision Regional Director for the region in which the institution is located. Federal Credit Unions Division of Consumer Affairs, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428 Air Carriers Assistant General Counsel for Aviation Enforcement and Proceedings, Department of Transportation, 400 Seventh Street, S.W., Washington, D.C. 20590. Brokers and Dealers Division of Market Regulation, Securities and Exchange Commission, Washington, D.C. 20549. Retailers, Consumer Finance Companies, Certain Other Financial Institutions, and all others not covered above Federal Trade Commission, Electronic Fund Transfers, Washington, D.C. 20580. Sec. Appendix C to Part 205--Issuance of Staff Interpretations Official Staff Interpretations Pursuant to section 915(d) of the act, the Board has designated the director and other officials of the Division of Consumer and Community Affairs as officials ``duly authorized'' to issue, at their discretion, official staff interpretations of this part. Except in unusual circumstances, such interpretations will not be issued separately but will be incorporated in an official commentary to this part, which will be amended periodically. Requests for Issuance of Official Staff Interpretations A request for an official staff interpretation shall be in writing and addressed to the Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. The request shall contain a complete statement of all relevant facts concerning the issue, including copies of all pertinent documents. Scope of Interpretations No staff interpretations will be issued approving financial institutions' forms or statements. This restriction does not apply to forms or statements whose use is required or sanctioned by a government agency. Sec. Supplement I to Part 205--Official Staff Interpretations Section 205.2--Definitions 2(a) Access Device 1. Examples. The term access device includes debit cards, personal identification numbers (PINs), telephone transfer and telephone bill payment codes, and other means that may be used by a consumer to initiate an electronic fund transfer (EFT) to or from a consumer account. The term does not include magnetic tape or other devices used internally by a financial institution to initiate electronic transfers. 2. Checks used to capture information. The term ``access device'' does not include a check or draft used to capture the MICR (Magnetic Ink Character Recognition) encoding to initiate a one-time ACH debit. For example, if a consumer authorizes a one-time ACH debit from the consumer's account using a blank, partially completed, or fully completed and signed check for the merchant to capture the routing, account, and serial numbers to initiate the debit, the check is not an access device. (Although the check is not an access device under Regulation E, the transaction is nonetheless covered by the regulation. See comment 3(b)(1)-1.v.) 2(b) Account 1. Consumer asset account. The term consumer asset account includes: i. Club accounts, such as vacation clubs. In many cases, however, these accounts are exempt from the regulation under Sec. 205.3(c)(5) because all electronic transfers to or from the account have been preauthorized by the [[Page 136]] consumer and involve another account of the consumer at the same institution. ii. A retail repurchase agreement (repo), which is a loan made to a financial institution by a consumer that is collateralized by government or government-insured securities. 2. Certain employment-related cards not covered. The term ``payroll card account'' does not include a card used solely to disburse incentive-based payments (other than commissions which can represent the primary means through which a consumer is paid), such as bonuses, which are unlikely to be a consumer's primary source of salary or other compensation. The term also does not include a card used solely to make disbursements unrelated to compensation, such as petty cash reimbursements or travel per diem payments. Similarly, a payroll card account does not include a card that is used in isolated instances to which an employer typically does not make recurring payments, such as when providing final payments or in emergency situations when other payment methods are unavailable. However, all transactions involving the transfer of funds to or from a payroll card account are covered by the regulation, even if a particular transaction involves payment of a bonus, other incentive-based payment, or reimbursement, or the transaction does not represent a transfer of wages, salary, or other employee compensation. 3. Examples of accounts not covered by Regulation E (12 CFR part 205) include: i. Profit-sharing and pension accounts established under a trust agreement, which are exempt under Sec. 205.2(b)(2). ii. Escrow accounts, such as those established to ensure payment of items such as real estate taxes, insurance premiums, or completion of repairs or improvements. iii. Accounts for accumulating funds to purchase U.S. savings bonds. Paragraph 2(b)(2) 1. Bona fide trust agreements. The term bona fide trust agreement is not defined by the act or regulation; therefore, financial institutions must look to state or other applicable law for interpretation. 2. Custodial agreements. An account held under a custodial agreement that qualifies as a trust under the Internal Revenue Code, such as an individual retirement account, is considered to be held under a trust agreement for purposes of Regulation E. 2(d) Business Day 1. Duration. A business day includes the entire 24-hour period ending at midnight, and a notice required by the regulation is effective even if given outside normal business hours. The regulation does not require, however, that a financial institution make telephone lines available on a 24-hour basis. 2. Substantially all business functions. ``Substantially all business functions'' include both the public and the back-office operations of the institution. For example, if the offices of an institution are open on Saturdays for handling some consumer transactions (such as deposits, withdrawals, and other teller transactions), but not for performing internal functions (such as investigating account errors), then Saturday is not a business day for that institution. In this case, Saturday does not count toward the business-day standard set by the regulation for reporting lost or stolen access devices, resolving errors, etc. 3. Short hours. A financial institution may determine, at its election, whether an abbreviated day is a business day. For example, if an institution engages in substantially all business functions until noon on Saturdays instead of its usual 3:00 p.m. closing, it may consider Saturday a business day. 4. Telephone line. If a financial institution makes a telephone line available on Sundays for reporting the loss or theft of an access device, but performs no other business functions, Sunday is not a business day under the ``substantially all business functions'' standard. 2(h) Electronic Terminal 1. Point-of-sale (POS) payments initiated by telephone. Because the term electronic terminal excludes a telephone operated by a consumer, a financial institution need not provide a terminal receipt when: i. A consumer uses a debit card at a public telephone to pay for the call. ii. A consumer initiates a transfer by a means analogous in function to a telephone, such as by home banking equipment or a facsimile machine. 2. POS terminals. A POS terminal that captures data electronically, for debiting or crediting to a consumer's asset account, is an electronic terminal for purposes of Regulation E even if no access device is used to initiate the transaction. (See Sec. 205.9 for receipt requirements.) 3. Teller-operated terminals. A terminal or other computer equipment operated by an employee of a financial institution is not an electronic terminal for purposes of the regulation. However, transfers initiated at such terminals by means of a consumer's access device (using the consumer's PIN, for example) are EFTs and are subject to other requirements of the regulation. If an access device is used only for identification purposes or for determining the account balance, the transfers are not EFTs for purposes of the regulation. [[Page 137]] 2(k) Preauthorized Electronic Fund Transfer 1. Advance authorization. A ``preauthorized electronic fund transfer'' under Regulation E is one authorized by the consumer in advance of a transfer that will take place on a recurring basis, at substantially regular intervals, and will require no further action by the consumer to initiate the transfer. In a bill-payment system, for example, if the consumer authorizes a financial institution to make monthly payments to a payee by means of EFTs, and the payments take place without further action by the consumer, the payments are preauthorized EFTs. In contrast, if the consumer must take action each month to initiate a payment (such as by entering instructions on a touch-tone telephone or home computer), the payments are not preauthorized EFTs. 2(m) Unauthorized Electronic Fund Transfer 1. Transfer by institution's employee. A consumer has no liability for erroneous or fraudulent transfers initiated by an employee of a financial institution. 2. Authority. If a consumer furnishes an access device and grants authority to make transfers to a person (such as a family member or co- worker) who exceeds the authority given, the consumer is fully liable for the transfers unless the consumer has notified the financial institution that transfers by that person are no longer authorized. 3. Access device obtained through robbery or fraud. An unauthorized EFT includes a transfer initiated by a person who obtained the access device from the consumer through fraud or robbery. 4. Forced initiation. An EFT at an automated teller machine (ATM) is an unauthorized transfer if the consumer has been induced by force to initiate the transfer. 5. Reversal of direct deposits. The reversal of a direct deposit made in error is not an unauthorized EFT when it involves: i. A credit made to the wrong consumer's account; ii. A duplicate credit made to a consumer's account; or iii. A credit in the wrong amount (for example, when the amount credited to the consumer's account differs from the amount in the transmittal instructions). Section 205.3--Coverage 3(a) General 1. Accounts covered. The requirements of the regulation apply only to an account for which an agreement for EFT services to or from the account has been entered into between: i. The consumer and the financial institution (including an account for which an access device has been issued to the consumer, for example); ii. The consumer and a third party (for preauthorized debits or credits, for example), when the account-holding institution has received notice of the agreement and the fund transfers have begun. 2. Automated clearing house (ACH) membership. The fact that membership in an ACH requires a financial institution to accept EFTs to accounts at the institution does not make every account of that institution subject to the regulation. 3. Foreign applicability. Regulation E applies to all persons (including branches and other offices of foreign banks located in the United States) that offer EFT services to residents of any state, including resident aliens. It covers any account located in the United States through which EFTs are offered to a resident of a state. This is the case whether or not a particular transfer takes place in the United States and whether or not the financial institution is chartered in the United States or a foreign country. The regulation does not apply to a foreign branch of a U.S. bank unless the EFT services are offered in connection with an account in a state as defined in Sec. 205.2(l). 3(b) Electronic Fund Transfer Paragraph 3(b)(1)--Definition 1. Fund transfers covered. The term electronic fund transfer includes: i. A deposit made at an ATM or other electronic terminal (including a deposit in cash or by check) provided a specific agreement exists between the financial institution and the consumer for EFTs to or from the account to which the deposit is made. ii. A transfer sent via ACH. For example, social security benefits under the U.S. Treasury's direct-deposit program are covered, even if the listing of payees and payment amounts reaches the account-holding institution by means of a computer printout from a correspondent bank. iii. A preauthorized transfer credited or debited to an account in accordance with instructions contained on magnetic tape, even if the financial institution holding the account sends or receives a composite check. iv. A transfer from the consumer's account resulting from a debit- card transaction at a merchant location, even if no electronic terminal is involved at the time of the transaction, if the consumer's asset account is subsequently debited for the amount of the transfer. v. A transfer via ACH where a consumer has provided a check to enable the merchant or other payee to capture the routing, account, and serial numbers to initiate the transfer, whether the check is blank, partially completed, or fully completed and signed; whether the check is presented at POS or is mailed to a merchant or other payee or lockbox and later converted to an [[Page 138]] EFT; or whether the check is retained by the consumer, the merchant or other payee, or the payee's financial institution. vi. A payment made by a bill payer under a bill-payment service available to a consumer via computer or other electronic means, unless the terms of the bill-payment service explicitly state that all payments, or all payments to a particular payee or payees, will be solely by check, draft, or similar paper instrument drawn on the consumer's account, and the payee or payees that will be paid in this manner are identified to the consumer. 2. Fund transfers not covered. The term electronic fund transfer does not include: i. A payment that does not debit or credit a consumer asset account, such as a payroll allotment to a creditor to repay a credit extension (which is deducted from salary). ii. A payment made in currency by a consumer to another person at an electronic terminal. iii. A preauthorized check drawn by the financial institution on the consumer's account (such as an interest or other recurring payment to the consumer or another party), even if the check is computer-generated. iv. Transactions arising from the electronic collection, presentment, or return of checks through the check collection system, such as through transmission of electronic check images. Paragraph 3(b)(2)--Electronic Fund Transfer Using Information From a Check 1. Notice at POS not furnished due to inadvertent error. If the copy of the notice under section 205.3(b)(2)(ii) for ECK transactions is not provided to the consumer at POS because of a bona fide unintentional error, such as when a terminal printing mechanism jams, no violation results if the payee maintains procedures reasonably adapted to avoid such occurrences. 2. Authorization to process a transaction as an EFT or as a check. In order to process a transaction as an EFT or alternatively as a check, the payee must obtain the consumer's authorization to do so. A payee may, at its option, specify the circumstances under which a check may not be converted to an EFT. (See model clauses in Appendix A-6.) 3. Notice for each transfer. Generally, a notice to authorize an electronic check conversion transaction must be provided for each transaction. For example, a consumer must receive a notice that the transaction will be processed as an EFT for each transaction at POS or each time a consumer mails a check in an accounts receivable (ARC) transaction to pay a bill, such as a utility bill, if the payee intends to convert a check received as payment. Similarly, the consumer must receive notice if the payee intends to collect a service fee for insufficient or uncollected funds via an EFT for each transaction whether at POS or if the consumer mails a check to pay a bill. The notice about when funds may be debited from a consumer's account and the non-return of consumer checks by the consumer's financial institution must also be provided for each transaction. However, if in an ARC transaction, a payee provides a coupon book to a consumer, for example, for mortgage loan payments, and the payment dates and amounts are set out in the coupon book, the payee may provide a single notice on the coupon book stating all of the required disclosures under paragraph (b)(2) of this section in order to obtain authorization for each conversion of a check and any debits via EFT to the consumer's account to collect any service fees imposed by the payee for insufficient or uncollected funds in the consumer's account. The notice must be placed on a conspicuous location of the coupon book that a consumer can retain--for example, on the first page, or inside the front cover. 4. Multiple payments/multiple consumers. If a merchant or other payee will use information from a consumer's check to initiate an EFT from the consumer's account, notice to a consumer listed on the billing account that a check provided as payment during a single billing cycle or after receiving an invoice or statement will be processed as a one- time EFT or as a check transaction constitutes notice for all checks provided in payment for the billing cycle or the invoice for which notice has been provided, whether the check(s) is submitted by the consumer or someone else. The notice applies to all checks provided in payment for the billing cycle or invoice until the provision of notice on or with the next invoice or statement. Thus, if a merchant or other payee receives a check as payment for the consumer listed on the billing account after providing notice that the check will be processed as a one-time EFT, the authorization from that consumer constitutes authorization to convert any other checks provided for that invoice or statement. Other notices required under this paragraph (b)(2) (for example, to collect a service fee for insufficient or uncollected funds via an EFT) provided to the consumer listed on the billing account also constitutes notice to any other consumer who may provide a check for the billing cycle or invoice. 5. Additional disclosures about ECK transactions at POS. When a payee initiates an EFT at POS using information from the consumer's check, and returns the check to the consumer at POS, the payee need not provide a notice to the consumer that the check will not be returned by the consumer's financial institution. [[Page 139]] Paragraph 3(b)(3)--Collection of Returned Item Fees via Electronic Fund Transfer 1. Fees imposed by account-holding institution. The requirement to obtain a consumer's authorization to collect a fee via EFT for the return of an EFT or check unpaid applies only to the person that intends to initiate an EFT to collect the returned item fee from the consumer's account. The authorization requirement does not apply to any fees assessed by the consumer's account-holding financial institution when it returns the unpaid underlying EFT or check or pays the amount of an overdraft. 2. Accounts receivable transactions. In an accounts receivable (ARC) transaction where a consumer sends in a payment for amounts owed (or makes an in-person payment at a biller's physical location, such as when a consumer makes a loan payment at a bank branch or places a payment in a dropbox), a person seeking to electronically collect a fee for items returned unpaid must obtain the consumer's authorization to collect the fee in this manner. A consumer authorizes a person to electronically collect a returned item fee when the consumer receives notice, typically on an invoice or statement, that the person may collect the fee through an EFT to the consumer's account, and the consumer goes forward with the underlying transaction by providing payment. The notice must also state the dollar amount of the fee. However, an explanation of how that fee will be determined may be provided in place of the dollar amount of the fee if the fee may vary due to the amount of the transaction or due to other factors, such as the number of days the underlying transaction is left outstanding. For example, if a state law permits a maximum fee of $30 or 10% of the underlying transaction, whichever is greater, the person collecting the fee may explain how the fee is determined, rather than state a specific dollar amount for the fee. 3. Disclosure of dollar amount of fee for POS transactions. The notice provided to the consumer in connection with a POS transaction under Sec. 205.3(b)(3)(ii) must state the amount of the fee for a returned item if the dollar amount of the fee can be calculated at the time the notice is provided or mailed. For example, if notice is provided to the consumer at the time of the transaction, if the applicable state law sets a maximum fee that may be collected for a returned item based on the amount of the underlying transaction (such as where the amount of the fee is expressed as a percentage of the underlying transaction), the person collecting the fee must state the actual dollar amount of the fee on the notice provided to the consumer. Alternatively, if the amount of the fee to be collected cannot be calculated at the time of the transaction (for example, where the amount of the fee will depend on the number of days a debt continues to be owed), the person collecting the fee may provide a description of how the fee will be determined on both the posted notice as well as on the notice provided at the time of the transaction. However, if the person collecting the fee elects to send the consumer notice after the person has initiated an EFT to collect the fee, that notice must state the amount of the fee to be collected. 4. Third party providing notice. The person initiating an EFT to a consumer's account to electronically collect a fee for an item returned unpaid may obtain the authorization and provide the notices required under Sec. 205.3(b)(3) through third parties, such as merchants. 3(c) Exclusions From Coverage Paragraph 3(c)(1)--Checks 1. Re-presented checks. The electronic re-presentment of a returned check is not covered by Regulation E because the transaction originated by check. Regulation E does apply, however, to any fee debited via an EFT from a consumer's account by the payee because the check was returned for insufficient or uncollected funds. The person debiting the fee electronically must obtain the consumer's authorization. 2. Check used to capture information for a one-time EFT. See comment 3(b)(1)-1.v. Paragraph 3(c)(2)--Check Guarantee or Authorization 1. Memo posting. Under a check guarantee or check authorization service, debiting of the consumer's account occurs when the check or draft is presented for payment. These services are exempt from coverage, even when a temporary hold on the account is memo-posted electronically at the time of authorization. Paragraph 3(c)(3)--Wire or Other Similar Transfers 1. Fedwire and ACH. If a financial institution makes a fund transfer to a consumer's account after receiving funds through Fedwire or a similar network, the transfer by ACH is covered by the regulation even though the Fedwire or network transfer is exempt. 2. Article 4A. Financial institutions that offer telephone-initiated Fedwire payments are subject to the requirements of UCC section 4A-202, which encourages verification of Fedwire payment orders pursuant to a security procedure established by agreement between the consumer and the receiving bank. These transfers are not subject to Regulation E and the agreement is not considered a telephone plan if the service is offered separately from a telephone bill-payment or other prearranged plan subject to Regulation [[Page 140]] E. The Board's Regulation J (12 CFR part 210) specifies the rules applicable to funds handled by Federal Reserve Banks. To ensure that the rules for all fund transfers through Fedwire are consistent, the Board used its preemptive authority under UCC section 4A-107 to determine that subpart B of Regulation J (12 CFR part 210), including the provisions of Article 4A, applies to all fund transfers through Fedwire, even if a portion of the fund transfer is governed by the EFTA. The portion of the fund transfer that is governed by the EFTA is not governed by subpart B of Regulation J (12 CFR part 210). 3. Similar fund transfer systems. Fund transfer systems that are similar to Fedwire include the Clearing House Interbank Payments System (CHIPS), Society for Worldwide Interbank Financial Telecommunication (SWIFT), Telex, and transfers made on the books of correspondent banks. Paragraph 3(c)(4)--Securities and Commodities Transfers 1. Coverage. The securities exemption applies to securities and commodities that may be sold by a registered broker-dealer or futures commission merchant, even when the security or commodity itself is not regulated by the Securities and Exchange Commission or the Commodity Futures Trading Commission. 2. Example of exempt transfer. The exemption applies to a transfer involving a transfer initiated by a telephone order to a stockbroker to buy or sell securities or to exercise a margin call. 3. Examples of nonexempt transfers. The exemption does not apply to a transfer involving: i. A debit card or other access device that accesses a securities or commodities account such as a money market mutual fund and that the consumer uses for purchasing goods or services or for obtaining cash. ii. A payment of interest or dividends into the consumer's account (for example, from a brokerage firm or from a Federal Reserve Bank for government securities). Paragraph 3(c)(5)--Automatic Transfers by Account-Holding Institution 1. Automatic transfers exempted. The exemption applies to: i. Electronic debits or credits to consumer accounts for check charges, stop-payment charges, NSF charges, overdraft charges, provisional credits, error adjustments, and similar items that are initiated automatically on the occurrence of certain events. ii. Debits to consumer accounts for group insurance available only through the financial institution and payable only by means of an aggregate payment from the institution to the insurer. iii. EFTs between a thrift institution and its paired commercial bank in the state of Rhode Island, which are deemed under state law to be intra-institutional. iv. Automatic transfers between a consumer's accounts within the same financial institution, even if the account holders on the two accounts are not identical. 2. Automatic transfers not exempted. Transfers between accounts of the consumer at affiliated institutions (such as between a bank and its subsidiary or within a holding company) are not intra-institutional transfers, and thus do not qualify for the exemption. Paragraph 3(c)(6)--Telephone-Initiated Transfers 1. Written plan or agreement. A transfer that the consumer initiates by telephone is covered by Regulation E if the transfer is made under a written plan or agreement between the consumer and the financial institution making the transfer. A written statement available to the public or to account holders that describes a service allowing a consumer to initiate transfers by telephone constitutes a plan--for example, a brochure, or material included with periodic statements. The following, however, do not by themselves constitute a written plan or agreement: i. A hold-harmless agreement on a signature card that protects the institution if the consumer requests a transfer. ii. A legend on a signature card, periodic statement, or passbook that limits the number of telephone-initiated transfers the consumer can make from a savings account because of reserve requirements under Regulation D (12 CFR part 204). iii. An agreement permitting the consumer to approve by telephone the rollover of funds at the maturity of an instrument. 2. Examples of covered transfers. When a written plan or agreement has been entered into, a transfer initiated by a telephone call from a consumer is covered even though: i. An employee of the financial institution completes the transfer manually (for example, by means of a debit memo or deposit slip). ii. The consumer is required to make a separate request for each transfer. iii. The consumer uses the plan infrequently. iv. The consumer initiates the transfer via a facsimile machine. v. The consumer initiates the transfer using a financial institution's audio-response or voice-response telephone system. Paragraph 3(c)(7)--Small Institutions 1. Coverage. This exemption is limited to preauthorized transfers; institutions that offer other EFTs must comply with the applicable sections of the regulation as to such services. The preauthorized transfers remain [[Page 141]] subject to sections 913, 915, and 916 of the act and Sec. 205.10(e), and are therefore exempt from UCC Article 4A. Section 205.4--General Disclosure Requirements; Jointly Offered Services 4(a) Form of Disclosures 1. General. Although no particular rules govern type size, number of pages, or the relative conspicuousness of various terms, the disclosures must be in a clear and readily understandable written form that the consumer may retain. Numbers or codes are considered readily understandable if explained elsewhere on the disclosure form. 2. Foreign language disclosures. Disclosures may be made in languages other than English, provided they are available in English upon request. Section 205.5--Issuance of Access Devices 1. Coverage. The provisions of this section limit the circumstances under which a financial institution may issue an access device to a consumer. Making an additional account accessible through an existing access device is equivalent to issuing an access device and is subject to the limitations of this section. 5(a) Solicited Issuance Paragraph 5(a)(1) 1. Joint account. For a joint account, a financial institution may issue an access device to each account holder if the requesting holder specifically authorizes the issuance. 2. Permissible forms of request. The request for an access device may be written or oral (for example, in response to a telephone solicitation by a card issuer). Paragraph 5(a)(2) 1. One-for-one rule. In issuing a renewal or substitute access device, only one renewal or substitute device may replace a previously issued device. For example, only one new card and PIN may replace a card and PIN previously issued. A financial institution may provide additional devices at the time it issues the renewal or substitute access device, however, provided the institution complies with Sec. 205.5(b). (See comment 5(b)-5.) If the replacement device or the additional device permits either fewer or additional types of electronic fund transfer services, a change-in-terms notice or new disclosures are required. 2. Renewal or substitution by a successor institution. A successor institution is an entity that replaces the original financial institution (for example, following a corporate merger or acquisition) or that acquires accounts or assumes the operation of an EFT system. 5(b) Unsolicited Issuance 1. Compliance. A financial institution may issue an unsolicited access device (such as the combination of a debit card and PIN) if the institution's ATM system has been programmed not to accept the access device until after the consumer requests and the institution validates the device. Merely instructing a consumer not to use an unsolicited debit card and PIN until after the institution verifies the consumer's identity does not comply with the regulation. 2. PINS. A financial institution may impose no liability on a consumer for unauthorized transfers involving an unsolicited access device until the device becomes an ``accepted access device'' under the regulation. A card and PIN combination may be treated as an accepted access device once the consumer has used it to make a transfer. 3. Functions of PIN. If an institution issues a PIN at the consumer's request, the issuance may constitute both a way of validating the debit card and the means to identify the consumer (required as a condition of imposing liability for unauthorized transfers). 4. Verification of identity. To verify the consumer's identity, a financial institution may use any reasonable means, such as a photograph, fingerprint, personal visit, signature comparison, or personal information about the consumer. However, even if reasonable means were used, if an institution fails to verify correctly the consumer's identity and an imposter succeeds in having the device validated, the consumer is not liable for any unauthorized transfers from the account. 5. Additional access devices in a renewal or substitution. A financial institution may issue more than one access device in connection with the renewal or substitution of a previously issued accepted access device, provided that any additional access device (beyond the device replacing the accepted access device) is not validated at the time it is issued, and the institution complies with the other requirements of Sec. 205.5(b). The institution may, if it chooses, set up the validation procedure such that both the device replacing the previously issued device and the additional device are not validated at the time they are issued, and validation will apply to both devices. If the institution sets up the validation procedure in this way, the institution should provide a clear and readily understandable disclosure to the consumer that both devices are unvalidated and that validation will apply to both devices. Section 205.6--Liability of Consumer for Unauthorized Transfers 6(a) Conditions for Liability 1. Means of identification. A financial institution may use various means for identifying [[Page 142]] the consumer to whom the access device is issued, including but not limited to: i. Electronic or mechanical confirmation (such as a PIN). ii. Comparison of the consumer's signature, fingerprint, or photograph. 2. Multiple users. When more than one access device is issued for an account, the financial institution may, but need not, provide a separate means to identify each user of the account. 6(b) Limitations on Amount of Liability 1. Application of liability provisions. There are three possible tiers of consumer liability for unauthorized EFTs depending on the situation. A consumer may be liable for (1) up to $50; (2) up to $500; or (3) an unlimited amount depending on when the unauthorized EFT occurs. More than one tier may apply to a given situation because each corresponds to a different (sometimes overlapping) time period or set of conditions. 2. Consumer negligence. Negligence by the consumer cannot be used as the basis for imposing greater liability than is permissible under Regulation E. Thus, consumer behavior that may constitute negligence under state law, such as writing the PIN on a debit card or on a piece of paper kept with the card, does not affect the consumer's liability for unauthorized transfers. (However, refer to comment 2(m)-2 regarding termination of the authority of given by the consumer to another person.) 3. Limits on liability. The extent of the consumer's liability is determined solely by the consumer's promptness in reporting the loss or theft of an access device. Similarly, no agreement between the consumer and an institution may impose greater liability on the consumer for an unauthorized transfer than the limits provided in Regulation E. Paragraph 6(b)(1)--Timely Notice Given 1. $50 limit applies. The basic liability limit is $50. For example, the consumer's card is lost or stolen on Monday and the consumer learns of the loss or theft on Wednesday. If the consumer notifies the financial institution within two business days of learning of the loss or theft (by midnight Friday), the consumer's liability is limited to $50 or the amount of the unauthorized transfers that occurred before notification, whichever is less. 2. Knowledge of loss or theft of access device. The fact that a consumer has received a periodic statement that reflects unauthorized transfers may be a factor in determining whether the consumer had knowledge of the loss or theft, but cannot be deemed to represent conclusive evidence that the consumer had such knowledge. 3. Two-business-day rule. The two-business-day period does not include the day the consumer learns of the loss or theft or any day that is not a business day. The rule is calculated based on two 24-hour periods, without regard to the financial institution's business hours or the time of day that the consumer learns of the loss or theft. For example, a consumer learns of the loss or theft at 6 p.m. on Friday. Assuming that Saturday is a business day and Sunday is not, the two- business-day period begins on Saturday and expires at 11:59 p.m. on Monday, not at the end of the financial institution's business day on Monday. Paragraph 6(b)(2)--Timely Notice Not Given 1. $500 limit applies. The second tier of liability is $500. For example, the consumer's card is stolen on Monday and the consumer learns of the theft that same day. The consumer reports the theft on Friday. The $500 limit applies because the consumer failed to notify the financial institution within two business days of learning of the theft (which would have been by midnight Wednesday). How much the consumer is actually liable for, however, depends on when the unauthorized transfers take place. In this example, assume a $100 unauthorized transfer was made on Tuesday and a $600 unauthorized transfer on Thursday. Because the consumer is liable for the amount of the loss that occurs within the first two business days (but no more than $50), plus the amount of the unauthorized transfers that occurs after the first two business days and before the consumer gives notice, the consumer's total liability is $500 ($50 of the $100 transfer plus $450 of the $600 transfer, in this example). But if $600 was taken on Tuesday and $100 on Thursday, the consumer's maximum liability would be $150 ($50 of the $600 plus $100). Paragraph 6(b)(3)--Periodic Statement; Timely Notice Not Given 1. Unlimited liability applies. The standard of unlimited liability applies if unauthorized transfers appear on a periodic statement, and may apply in conjunction with the first two tiers of liability. If a periodic statement shows an unauthorized transfer made with a lost or stolen debit card, the consumer must notify the financial institution within 60 calendar days after the periodic statement was sent; otherwise, the consumer faces unlimited liability for all unauthorized transfers made after the 60-day period. The consumer's liability for unauthorized transfers before the statement is sent, and up to 60 days following, is determined based on the first two tiers of liability: up to $50 if the consumer notifies the financial institution within two business days of learning of the loss or theft of the card and up to $500 if the consumer notifies the institution after two business days of learning of the loss or theft. [[Page 143]] 2. Transfers not involving access device. The first two tiers of liability do not apply to unauthorized transfers from a consumer's account made without an access device. If, however, the consumer fails to report such unauthorized transfers within 60 calendar days of the financial institution's transmittal of the periodic statement, the consumer may be liable for any transfers occurring after the close of the 60 days and before notice is given to the institution. For example, a consumer's account is electronically debited for $200 without the consumer's authorization and by means other than the consumer's access device. If the consumer notifies the institution within 60 days of the transmittal of the periodic statement that shows the unauthorized transfer, the consumer has no liability. However, if in addition to the $200, the consumer's account is debited for a $400 unauthorized transfer on the 61st day and the consumer fails to notify the institution of the first unauthorized transfer until the 62nd day, the consumer may be liable for the full $400. Paragraph 6(b)(4)--Extension of Time Limits 1. Extenuating circumstances. Examples of circumstances that require extension of the notification periods under this section include the consumer's extended travel or hospitalization. Paragraph 6(b)(5)--Notice to Financial Institution 1. Receipt of notice. A financial institution is considered to have received notice for purposes of limiting the consumer's liability if notice is given in a reasonable manner, even if the consumer notifies the institution but uses an address or telephone number other than the one specified by the institution. 2. Notice by third party. Notice to a financial institution by a person acting on the consumer's behalf is considered valid under this section. For example, if a consumer is hospitalized and unable to report the loss or theft of an access device, notice is considered given when someone acting on the consumer's behalf notifies the bank of the loss or theft. A financial institution may require appropriate documentation from the person representing the consumer to establish that the person is acting on the consumer's behalf. 3. Content of notice. Notice to a financial institution is considered given when a consumer takes reasonable steps to provide the institution with the pertinent account information. Even when the consumer is unable to provide the account number or the card number in reporting a lost or stolen access device or an unauthorized transfer, the notice effectively limits the consumer's liability if the consumer otherwise identifies sufficiently the account in question. For example, the consumer may identify the account by the name on the account and the type of account in question. Section 205.7--Initial Disclosures 7(a) Timing of Disclosures 1. Early disclosures. Disclosures given by a financial institution earlier than the regulation requires (for example, when the consumer opens a checking account) need not be repeated when the consumer later enters into an agreement with a third party to initiate preauthorized transfers to or from the consumer's account, unless the terms and conditions differ from those that the institution previously disclosed. This interpretation also applies to any notice provided about one-time EFTs from a consumer's account initiated using information from the consumer's check. On the other hand, if an agreement for EFT services to be provided by an account-holding institution is directly between the consumer and the account-holding institution, disclosures must be given in close proximity to the event requiring disclosure, for example, when the consumer contracts for a new service. 2. Lack of advance notice of a transfer. Where a consumer authorizes a third party to debit or credit the consumer's account, an account- holding institution that has not received advance notice of the transfer or transfers must provide the required disclosures as soon as reasonably possible after the first debit or credit is made, unless the institution has previously given the disclosures. 3. Addition of new accounts. If a consumer opens a new account permitting EFTs at a financial institution, and the consumer already has received Regulation E disclosures for another account at that institution, the institution need only disclose terms and conditions that differ from those previously given. 4. Addition of service in interchange systems. If a financial institution joins an interchange or shared network system (which provides access to terminals operated by other institutions), disclosures are required for additional EFT services not previously available to consumers if the terms and conditions differ from those previously disclosed. 5. Disclosures covering all EFT services offered. An institution may provide disclosures covering all EFT services that it offers, even if some consumers have not arranged to use all services. 7(b) Content of Disclosures Paragraph 7(b)(1)--Liability of Consumer 1. No liability imposed by financial institution. If a financial institution chooses to impose zero liability for unauthorized EFTs, it need not provide the liability disclosures. If [[Page 144]] the institution later decides to impose liability, however, it must first provide the disclosures. 2. Preauthorized transfers. If the only EFTs from an account are preauthorized transfers, liability could arise if the consumer fails to report unauthorized transfers reflected on a periodic statement. To impose such liability on the consumer, the institution must have disclosed the potential liability and the telephone number and address for reporting unauthorized transfers. 3. Additional information. At the institution's option, the summary of the consumer's liability may include advice on promptly reporting unauthorized transfers or the loss or theft of the access device. Paragraph 7(b)(2)--Telephone Number and Address 1. Disclosure of telephone numbers. An institution may use the same or different telephone numbers in the disclosures for the purpose of: i. Reporting the loss or theft of an access device or possible unauthorized transfers; ii. Inquiring about the receipt of a preauthorized credit; iii. Stopping payment of a preauthorized debit; iv. Giving notice of an error. 2. Location of telephone number. The telephone number need not be incorporated into the text of the disclosure; for example, the institution may instead insert a reference to a telephone number that is readily available to the consumer, such as ``Call your branch office. The number is shown on your periodic statement.'' However, an institution must provide a specific telephone number and address, on or with the disclosure statement, for reporting a lost or stolen access device or a possible unauthorized transfer. Paragraph 7(b)(4)--Types of Transfers; Limitations 1. Security limitations. Information about limitations on the frequency and dollar amount of transfers generally must be disclosed in detail, even if related to security aspects of the system. If the confidentiality of certain details is essential to the security of an account or system, these details may be withheld (but the fact that limitations exist must still be disclosed). For example, an institution limits cash ATM withdrawals to $100 per day. The institution may disclose that daily withdrawal limitations apply and need not disclose that the limitations may not always be in force (such as during periods when its ATMs are off-line). 2. Restrictions on certain deposit accounts. A limitation on account activity that restricts the consumer's ability to make EFTs must be disclosed even if the restriction also applies to transfers made by nonelectronic means. For example, Regulation D (12 CFR Part 204) restricts the number of payments to third parties that may be made from a money market deposit account; an institution that does not execute fund transfers in excess of those limits must disclose the restriction as a limitation on the frequency of EFTs. 3. Preauthorized transfers. Financial institutions are not required to list preauthorized transfers among the types of transfers that a consumer can make. 4. One-time EFTs initiated using information from a check. Financial institutions must disclose the fact that one-time EFTs initiated using information from a consumer's check are among the types of transfers that a consumer can make. (See Appendix A-2.) Paragraph 7(b)(5)--Fees 1. Disclosure of EFT fees. An institution is required to disclose all fees for EFTs or the right to make them. Others fees (for example, minimum-balance fees, stop-payment fees, or account overdrafts) may, but need not, be disclosed (but see Regulation DD, 12 CFR Part 230. An institution is not required to disclose fees for inquiries made at an ATM since no transfer of funds is involved. 2. Fees also applicable to non-EFT. A per-item fee for EFTs must be disclosed even if the same fee is imposed on nonelectronic transfers. If a per-item fee is imposed only under certain conditions, such as when the transactions in the cycle exceed a certain number, those conditions must be disclosed. Itemization of the various fees may be provided on the disclosure statement or on an accompanying document that is referenced in the statement. 3. Interchange system fees. Fees paid by the account-holding institution to the operator of a shared or interchange ATM system need not be disclosed, unless they are imposed on the consumer by the account-holding institution. Fees for use of an ATM that are debited directly from the consumer's account by an institution other than the account-holding institution (for example, fees included in the transfer amount) need not be disclosed. (See Sec. 205.7(b)(11) for the general notice requirement regarding fees that may be imposed by ATM operators and by a network used to complete the transfer.) Paragraph 7(b)(9)--Confidentiality 1. Information provided to third parties. An institution must describe the circumstances under which any information relating to an account to or from which EFTs are permitted will be made available to third parties, not just information concerning those EFTs. The term ``third parties'' includes affiliates such as other subsidiaries of the same holding company. [[Page 145]] Paragraph 7(b)(10)--Error Resolution 1. Substantially similar. The error resolution notice must be substantially similar to the model form in appendix A of part 205. An institution may use different wording so long as the substance of the notice remains the same, may delete inapplicable provisions (for example, the requirement for written confirmation of an oral notification), and may substitute substantive state law requirements affording greater consumer protection than Regulation E. 2. Extended time-period for certain transactions. To take advantage of the longer time periods for resolving errors under Sec. 205.11(c)(3) (for new accounts as defined in Regulation CC (12 CFR part 229), transfers initiated outside the United States, or transfers resulting from POS debit-card transactions), a financial institution must have disclosed these longer time periods. Similarly, an institution that relies on the exception from provisional crediting in Sec. 205.11(c)(2) for accounts subject to Regulation T (12 CFR part 220) must have disclosed accordingly. 7(c) Addition of Electronic Fund Transfer Services 1. Addition of electronic check conversion services. One-time EFTs initiated using information from a consumer's check are a new type of transfer requiring new disclosures, as applicable. (See Appendix A-2.) Section 205.8--Change-in-Terms Notice; Error Resolution Notice 8(a) Change-in-Terms Notice 1. Form of notice. No specific form or wording is required for a change-in-terms notice. The notice may appear on a periodic statement, or may be given by sending a copy of a revised disclosure statement, provided attention is directed to the change (for example, in a cover letter referencing the changed term). 2. Changes not requiring notice. The following changes do not require disclosure: i. Closing some of an institution's ATMs; ii. Cancellation of an access device. 3. Limitations on transfers. When the initial disclosures omit details about limitations because secrecy is essential to the security of the account or system, a subsequent increase in those limitations need not be disclosed if secrecy is still essential. If, however, an institution had no limits in place when the initial disclosures were given and now wishes to impose limits for the first time, it must disclose at least the fact that limits have been adopted. (See also Sec. 205.7(b)(4) and the related commentary.) 4. Change in telephone number or address. When a financial institution changes the telephone number or address used for reporting possible unauthorized transfers, a change-in-terms notice is required only if the institution will impose liability on the consumer for unauthorized transfers under Sec. 205.6. (See also Sec. 205.6(a) and the related commentary.) 8(b) Error Resolution Notice 1. Change between annual and periodic notice. If an institution switches from an annual to a periodic notice, or vice versa, the first notice under the new method must be sent no later than 12 months after the last notice sent under the old method. 2. Exception for new accounts. For new accounts, disclosure of the longer error resolution time periods under Sec. 205.11(c)(3) is not required in the annual error resolution notice or in the notice that may be provided with each periodic statement as an alternative to the annual notice. Section 205.9--Receipts at Electronic Terminals; Periodic Statements 9(a) Receipts at Electronic Terminals 1. Receipts furnished only on request. The regulation requires that a receipt be ``made available.'' A financial institution may program its electronic terminals to provide a receipt only to consumers who elect to receive one. 2. Third party providing receipt. An account-holding institution may make terminal receipts available through third parties such as merchants or other financial institutions. 3. Inclusion of promotional material. A financial institution may include promotional material on receipts if the required information is set forth clearly (for example, by separating it from the promotional material). In addition, a consumer may not be required to surrender the receipt or that portion containing the required disclosures in order to take advantage of a promotion. 4. Transfer not completed. The receipt requirement does not apply to a transfer that is initiated but not completed (for example, if the ATM is out of currency or the consumer decides not to complete the transfer). 5. Receipts not furnished due to inadvertent error. If a receipt is not provided to the consumer because of a bona fide unintentional error, such as when a terminal runs out of paper or the mechanism jams, no violation results if the financial institution maintains procedures reasonably adapted to avoid such occurrences. 6. Multiple transfers. If the consumer makes multiple transfers at the same time, the financial institution may document them on a single or on separate receipts. Paragraph 9(a)(1)--Amount 1. Disclosure of transaction fee. The required display of a fee amount on or at the terminal [[Page 146]] may be accomplished by displaying the fee on a sign at the terminal or on the terminal screen for a reasonable duration. Displaying the fee on a screen provides adequate notice, as long as a consumer is given the option to cancel the transaction after receiving notice of a fee. (See Sec. 205.16 for the notice requirements applicable to ATM operators that impose a fee for providing EFT services.) 2. Relationship between Sec. 205.9(a)(1) and Sec. 205.16. The requirements of Sec. Sec. 205.9(a)(1) and 205.16 are similar but not identical. i. Section 205.9(a)(1) requires that if the amount of the transfer as shown on the receipt will include the fee, then the fee must be disclosed either on a sign on or at the terminal, or on the terminal screen. Section 205.16 requires disclosure both on a sign on or at the terminal (in a prominent and conspicuous location) and on the terminal screen. Section 205.16 permits disclosure on a paper notice as an alternative to the on-screen disclosure. ii. The disclosure of the fee on the receipt under Sec. 205.9(a)(1) cannot be used to comply with the alternative paper disclosure procedure under Sec. 205.16, if the receipt is provided at the completion of the transaction because, pursuant to the statute, the paper notice must be provided before the consumer is committed to paying the fee. iii. Section 205.9(a)(1) applies to any type of electronic terminal as defined in Regulation E (for example, to POS terminals as well as to ATMs), while Sec. 205.16 applies only to ATMs. Paragraph 9(a)(2)--Date 1. Calendar date. The receipt must disclose the calendar date on which the consumer uses the electronic terminal. An accounting or business date may be disclosed in addition if the dates are clearly distinguished. Paragraph 9(a)(3)--Type 1. Identifying transfer and account. Examples identifying the type of transfer and the type of the consumer's account include ``withdrawal from checking,'' ``transfer from savings to checking,'' or ``payment from savings.'' 2. Exception. Identification of an account is not required when the consumer can access only one asset account at a particular time or terminal, even if the access device can normally be used to access more than one account. For example, the consumer may be able to access only one particular account at terminals not operated by the account-holding institution, or may be able to access only one particular account when the terminal is off-line. The exception is available even if, in addition to accessing one asset account, the consumer also can access a credit line. 3. Access to multiple accounts. If the consumer can use an access device to make transfers to or from different accounts of the same type, the terminal receipt must specify which account was accessed, such as ``withdrawal from checking I'' or ``withdrawal from checking II.'' If only one account besides the primary checking account can be debited, the receipt can identify the account as ``withdrawal from other account.'' 4. Generic descriptions. Generic descriptions may be used for accounts that are similar in function, such as share draft or NOW accounts and checking accounts. In a shared system, for example, when a credit union member initiates transfers to or from a share draft account at a terminal owned or operated by a bank, the receipt may identify a withdrawal from the account as a ``withdrawal from checking.'' 5. Point-of-sale transactions. There is no prescribed terminology for identifying a transfer at a merchant's POS terminal. A transfer may be identified, for example, as a purchase, a sale of goods or services, or a payment to a third party. When a consumer obtains cash from a POS terminal in addition to purchasing goods, or obtains cash only, the documentation need not differentiate the transaction from one involving the purchase of goods. Paragraph 9(a)(5)--Terminal Location 1. Options for identifying terminal. The institution may provide either: i. The city, state or foreign country, and the information in Sec. Sec. 205.9(a)(5) (i), (ii), or (iii), or ii. A number or a code identifying the terminal. If the institution chooses the second option, the code or terminal number identifying the terminal where the transfer is initiated may be given as part of a transaction code. 2. Omission of city name. The city may be omitted if the generally accepted name (such as a branch name) contains the city name. 3. Omission of a state. A state may be omitted from the location information on the receipt if: i. All the terminals owned or operated by the financial institution providing the statement (or by the system in which it participates) are located in that state, or ii. All transfers occur at terminals located within 50 miles of the financial institutions's main office. 4. Omission of a city and state. A city and state may be omitted if all the terminals owned or operated by the financial institution providing the statement (or by the system in which it participates) are located in the same city. Paragraph 9(a)(5)(i) 1. Street address. The address should include number and street (or intersection); the [[Page 147]] number (or intersecting street) may be omitted if the street alone uniquely identifies the terminal location. Paragraph 9(a)(5)(ii) 1. Generally accepted name. Examples of a generally accepted name for a specific location include a branch of the financial institution, a shopping center, or an airport. Paragraph 9(a)(5)(iii) 1. Name of owner or operator of terminal. Examples of an owner or operator of a terminal are a financial institution or a retail merchant. Paragraph 9(a)(6)--Third Party Transfer 1. Omission of third-party name. The receipt need not disclose the third-party name if the name is provided by the consumer in a form that is not machine readable (for example, if the consumer indicates the payee by depositing a payment stub into the ATM). If, on the other hand, the consumer keys in the identity of the payee, the receipt must identify the payee by name or by using a code that is explained elsewhere on the receipt. 2. Receipt as proof of payment. Documentation required under the regulation constitutes prima facie proof of a payment to another person, except in the case of a terminal receipt documenting a deposit. 9(b) Periodic Statements 1. Periodic cycles. Periodic statements may be sent on a cycle that is shorter than monthly. The statements must correspond to periodic cycles that are reasonably equal, that is, do not vary by more than four days from the regular cycle. The requirement of reasonably equal cycles does not apply when an institution changes cycles for operational or other reasons, such as to establish a new statement day or date. 2. Interim statements. Generally, a financial institution must provide periodic statements for each monthly cycle in which an EFT occurs, and at least quarterly if a transfer has not occurred. Where EFTs occur between regularly-scheduled cycles, interim statements must be provided. For example, if an institution issues quarterly statements at the end of March, June, September and December, and the consumer initiates an EFT in February, an interim statement for February must be provided. If an interim statement contains interest or rate information, the institution must comply with Regulation DD, 12 CFR 230.6. 3. Inactive accounts. A financial institution need not send statements to consumers whose accounts are inactive as defined by the institution. 4. Statement pickup. A financial institution may permit, but may not require, consumers to pick up their periodic statements at the financial institution. 5. Periodic statements limited to EFT activity. A financial institution that uses a passbook as the primary means for displaying account activity, but also allows the account to be debited electronically, may provide a periodic statement requirement that reflects only the EFTs and other required disclosures (such as charges, account balances, and address and telephone number for inquiries). (See Sec. 205.9(c)(1)(i) for the exception applicable to preauthorized transfers for passbook accounts.) 6. Codes and accompanying documents. To meet the documentation requirements for periodic statements, a financial institution may: i. Include copies of terminal receipts to reflect transfers initiated by the consumer at electronic terminals; ii. Enclose posting memos, deposit slips, and other documents that, together with the statement, disclose all the required information; iii. Use codes for names of third parties or terminal locations and explain the information to which the codes relate on an accompanying document. Paragraph 9(b)(1)--Transaction Information 1. Information obtained from others. While financial institutions must maintain reasonable procedures to ensure the integrity of data obtained from another institution, a merchant, or other third parties, verification of each transfer that appears on the periodic statement is not required. Paragraph 9(b)(1)(i) 1. Incorrect deposit amount. If a financial institution determines that the amount actually deposited at an ATM is different from the amount entered by the consumer, the institution need not immediately notify the consumer of the discrepancy. The periodic statement reflecting the deposit may show either the correct amount of the deposit or the amount entered by the consumer along with the institution's adjustment. Paragraph 9(b)(1)(iii) 1. Type of transfer. There is no prescribed terminology for describing a type of transfer. Placement of the amount of the transfer in the debit or the credit column is sufficient if other information on the statement, such as a terminal location or third-party name, enables the consumer to identify the type of transfer. Paragraph 9(b)(1)(iv) 1. Nonproprietary terminal in network. An institution need not reflect on the periodic statement the street addresses, identification codes, or terminal numbers for transfers [[Page 148]] initiated in a shared or interchange system at a terminal operated by an institution other than the account-holding institution. The statement must, however, specify the entity that owns or operates the terminal, plus the city and state. Paragraph 9(b)(1)(v) 1. Recurring payments by government agency. The third-party name for recurring payments from federal, state, or local governments need not list the particular agency. For example, ``U.S. gov't'' or ``N.Y. sal'' will suffice. 2. Consumer as third-party payee. If a consumer makes an electronic fund transfer to another consumer, the financial institution must identify the recipient by name (not just by an account number, for example). 3. Terminal location/third party. A single entry may be used to identify both the terminal location and the name of the third party to or from whom funds are transferred. For example, if a consumer purchases goods from a merchant, the name of the party to whom funds are transferred (the merchant) and the location of the terminal where the transfer is initiated will be satisfied by a disclosure such as ``XYZ Store, Anytown, Ohio.'' 4. Account-holding institution as third party. Transfers to the account-holding institution (by ATM, for example) must show the institution as the recipient, unless other information on the statement (such as, ``loan payment from checking'') clearly indicates that the payment was to the account-holding institution. 5. Consistency in third-party identity. The periodic statement must disclose a third-party name as it appeared on the receipt, whether it was, for example, the ``dba'' (doing business as) name of the third party or the parent corporation's name. 6. Third-party identity on deposits at electronic terminal. A financial institution need not identify third parties whose names appear on checks, drafts, or similar paper instruments deposited to the consumer's account at an electronic terminal. Paragraph 9(b)(3)--Fees 1. Disclosure of fees. The fees disclosed may include fees for EFTs and for other nonelectronic services, and both fixed fees and per-item fees; they may be given as a total or may be itemized in part or in full. 2. Fees in interchange system. An account-holding institution must disclose any fees it imposes on the consumer for EFTs, including fees for ATM transactions in an interchange or shared ATM system. Fees for use of an ATM imposed on the consumer by an institution other than the account-holding institution and included in the amount of the transfer by the terminal-operating institution need not be separately disclosed on the periodic statement. 3. Finance charges. The requirement to disclose any fees assessed against the account does not include a finance charge imposed on the account during the statement period. Paragraph 9(b)(4)--Account Balances 1. Opening and closing balances. The opening and closing balances must reflect both EFTs and other account activity. Paragraph 9(b)(5)--Address and Telephone Number for Inquiries 1. Telephone number. A single telephone number, preceded by the ``direct inquiries to'' language, will satisfy the requirements of Sec. 205.9(b)(5) and (6). Paragraph 9(b)(6)--Telephone Number for Preauthorized Transfers 1. Telephone number. See comment 9(b)(5)-1. 9(c) Exceptions to the Periodic Statement Requirements for Certain Accounts 1. Transfers between accounts. The regulation provides an exception from the periodic statement requirement for certain intra-institutional transfers between a consumer's accounts. The financial institution must still comply with the applicable periodic statement requirements for any other EFTs to or from the account. For example, a Regulation E statement must be provided quarterly for an account that also receives payroll deposits electronically, or for any month in which an account is also accessed by a withdrawal at an ATM. Paragraph 9(c)(1)--Preauthorized Transfers to Accounts 1. Accounts that may be accessed only by preauthorized transfers to the account. The exception for ``accounts that may be accessed only by preauthorized transfers to the account'' includes accounts that can be accessed by means other than EFTs, such as checks. If, however, an account may be accessed by any EFT other than preauthorized credits to the account, such as preauthorized debits or ATM transactions, the account does not qualify for the exception. 2. Reversal of direct deposits. For direct-deposit-only accounts, a financial institution must send a periodic statement at least quarterly. A reversal of a direct deposit to correct an error does not trigger the monthly statement requirement when the error represented a credit to the wrong consumer's account, a duplicate credit, or a credit in the wrong amount. (See also comment 2(m)-5.) [[Page 149]] 9(d) Documentation for Foreign-Initiated Transfers 1. Foreign-initiated transfers. An institution must make a good faith effort to provide all required information for foreign-initiated transfers. For example, even if the institution is not able to provide a specific terminal location, it should identify the country and city in which the transfer was initiated. Section 205.10--Preauthorized Transfers 10(a) Preauthorized Transfers to Consumer's Account Paragraph 10(a)(1)--Notice by Financial Institution 1. Content. No specific language is required for notice regarding receipt of a preauthorized transfer. Identifying the deposit is sufficient; however, simply providing the current account balance is not. 2. Notice of credit. A financial institution may use different methods of notice for various types or series of preauthorized transfers, and the institution need not offer consumers a choice of notice methods. 3. Positive notice. A periodic statement sent within two business days of the scheduled transfer, showing the transfer, can serve as notice of receipt. 4. Negative notice. The absence of a deposit entry (on a periodic statement sent within two business days of the scheduled transfer date) will serve as negative notice. 5. Telephone notice. If a financial institution uses the telephone notice option, it should be able in most instances to verify during a consumer's initial call whether a transfer was received. The institution must respond within two business days to any inquiry not answered immediately. 6. Phone number for passbook accounts. The financial institution may use any reasonable means necessary to provide the telephone number to consumers with passbook accounts that can only be accessed by preauthorized credits and that do not receive periodic statements. For example, it may print the telephone number in the passbook, or include the number with the annual error resolution notice. 7. Telephone line availability. To satisfy the readily-available standard, the financial institution must provide enough telephone lines so that consumers get a reasonably prompt response. The institution need only provide telephone service during normal business hours. Within its primary service area, an institution must provide a local or toll-free telephone number. It need not provide a toll-free number or accept collect long-distance calls from outside the area where it normally conducts business. 10(b) Written Authorization for Preauthorized Transfers From Consumer's Account 1. Preexisting authorizations. The financial institution need not require a new authorization before changing from paper-based to electronic debiting when the existing authorization does not specify that debiting is to occur electronically or specifies that the debiting will occur by paper means. A new authorization also is not required when a successor institution begins collecting payments. 2. Authorization obtained by third party. The account-holding financial institution does not violate the regulation when a third-party payee fails to obtain the authorization in writing or fails to give a copy to the consumer; rather, it is the third-party payee that is in violation of the regulation. 3. Written authorization for preauthorized transfers. The requirement that preauthorized EFTs be authorized by the consumer ``only by a writing'' cannot be met by a payee's signing a written authorization on the consumer's behalf with only an oral authorization from the consumer. 4. Use of a confirmation form. A financial institution or designated payee may comply with the requirements of this section in various ways. For example, a payee may provide the consumer with two copies of a preauthorization form, and ask the consumer to sign and return one and to retain the second copy. 5. Similarly authenticated. The similarly authenticated standard permits signed, written authorizations to be provided electronically. The writing and signature requirements of this section are satisfied by complying with the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., which defines electronic records and electronic signatures. Examples of electronic signatures include, but are not limited to, digital signatures and security codes. A security code need not originate with the account-holding institution. The authorization process should evidence the consumer's identity and assent to the authorization. The person that obtains the authorization must provide a copy of the terms of the authorization to the consumer either electronically or in paper form. Only the consumer may authorize the transfer and not, for example, a third-party merchant on behalf of the consumer. 6. Requirements of an authorization. An authorization is valid if it is readily identifiable as such and the terms of the preauthorized transfer are clear and readily understandable. 7. Bona fide error. Consumers sometimes authorize third-party payees, by telephone or on-line, to submit recurring charges against a credit card account. If the consumer indicates use of a credit card account [[Page 150]] when in fact a debit card is being used, the payee does not violate the requirement to obtain a written authorization if the failure to obtain written authorization was not intentional and resulted from a bona fide error, and if the payee maintains procedures reasonably adapted to avoid any such error. Procedures reasonably adapted to avoid error will depend upon the circumstances. Generally, requesting the consumer to specify whether the card to be used for the authorization is a debit (or check) card or a credit card is a reasonable procedure. Where the consumer has indicated that the card is a credit card (or that the card is not a debit or check card), the payee may rely on the consumer's statement without seeking further information about the type of card. If the payee believes, at the time of the authorization, that a credit card is involved, and later finds that the card used is a debit card (for example, because the consumer later brings the matter to the payee's attention), the payee must obtain a written and signed or (where appropriate) a similarly authenticated authorization as soon as reasonably possible, or cease debiting the consumer's account. 10(c) Consumer's Right To Stop Payment 1. Stop-payment order. The financial institution must honor an oral stop-payment order made at least three business days before a scheduled debit. If the debit item is resubmitted, the institution must continue to honor the stop-payment order (for example, by suspending all subsequent payments to the payee-originator until the consumer notifies the institution that payments should resume). 2. Revocation of authorization. Once a financial institution has been notified that the consumer's authorization is no longer valid, it must block all future payments for the particular debit transmitted by the designated payee-originator. (However, see comment 10(c)-3.) The institution may not wait for the payee-originator to terminate the automatic debits. The institution may confirm that the consumer has informed the payee-originator of the revocation (for example, by requiring a copy of the consumer's revocation as written confirmation to be provided within 14 days of an oral notification). If the institution does not receive the required written confirmation within the 14-day period, it may honor subsequent debits to the account. 3. Alternative procedure for processing a stop-payment request. If an institution does not have the capability to block a preauthorized debit from being posted to the consumer's account--as in the case of a preauthorized debit made through a debit card network or other system, for example--the institution may instead comply with the stop-payment requirements by using a third party to block the transfer(s), as long as the consumer's account is not debited for the payment. 10(d) Notice of Transfers Varying in Amount Paragraph 10(d)(1)--Notice 1. Preexisting authorizations. A financial institution holding the consumer's account does not violate the regulation if the designated payee fails to provide notice of varying amounts. Paragraph 10(d)(2)--Range 1. Range. A financial institution or designated payee that elects to offer the consumer a specified range of amounts for debiting (in lieu of providing the notice of transfers varying in amount) must provide an acceptable range that could be anticipated by the consumer. For example, if the transfer is for payment of a gas bill, an appropriate range might be based on the highest bill in winter and the lowest bill in summer. 2. Transfers to an account of the consumer held at another institution. A financial institution need not provide a consumer the option of receiving notice with each varying transfer, and may instead provide notice only when a debit to an account of the consumer falls outside a specified range or differs by more than a specified amount from the most recent transfer, if the funds are transferred and credited to an account of the consumer held at another financial institution. The specified range or amount, however, must be one that reasonably could be anticipated by the consumer, and the institution must notify the consumer of the range or amount at the time the consumer provides authorization for the preauthorized transfers. For example, if the transfer is for payment of interest for a fixed-rate certificate of deposit account, an appropriate range might be based on a month containing 28 days and a month containing 31 days. 10(e) Compulsory Use Paragraph 10(e)(1)--Credit 1. Loan payments. Creditors may not require repayment of loans by electronic means on a preauthorized, recurring basis. A creditor may offer a program with a reduced annual percentage rate or other cost- related incentive for an automatic repayment feature, provided the program with the automatic payment feature is not the only loan program offered by the creditor for the type of credit involved. Examples include: i. Mortgages with graduated payments in which a pledged savings account is automatically debited during an initial period to supplement the monthly payments made by the borrower. ii. Mortgage plans calling for preauthorized biweekly payments that are [[Page 151]] debited electronically to the consumer's account and produce a lower total finance charge. 2. Overdraft. A financial institution may require the automatic repayment of an overdraft credit plan even if the overdraft extension is charged to an open-end account that may be accessed by the consumer in ways other than by overdrafts. Paragraph 10(e)(2)--Employment or Government Benefit 1. Payroll. An employer (including a financial institution) may not require its employees to receive their salary by direct deposit to any particular institution. An employer may require direct deposit of salary by electronic means if employees are allowed to choose the institution that will receive the direct deposit. Alternatively, an employer may give employees the choice of having their salary deposited at a particular institution (designated by the employer) or receiving their salary by another means, such as by check or cash. Section 205.11--Procedures for Resolving Errors 11(a) Definition of Error 1. Terminal location. With regard to deposits at an ATM, a consumer's request for the terminal location or other information triggers the error resolution procedures, but the financial institution need only provide the ATM location if it has captured that information. 2. Verifying an account debit or credit. If the consumer contacts the financial institution to ascertain whether a payment (for example, in a home-banking or bill-payment program) or any other type of EFT was debited to the account, or whether a deposit made via ATM, preauthorized transfer, or any other type of EFT was credited to the account, without asserting an error, the error resolution procedures do not apply. 3. Loss or theft of access device. A financial institution is required to comply with the error resolution procedures when a consumer reports the loss or theft of an access device if the consumer also alleges possible unauthorized use as a consequence of the loss or theft. 4. Error asserted after account closed. The financial institution must comply with the error resolution procedures when a consumer properly asserts an error, even if the account has been closed. 5. Request for documentation or information. A request for documentation or other information must be treated as an error unless it is clear that the consumer is requesting a duplicate copy for tax or other record-keeping purposes. 6. Terminal receipts for transfers of $15 or less. The fact that an institution does not make a terminal receipt available for a transfer of $15 or less in accordance with Sec. 205.9(e) is not an error for purposes of Sec. Sec. 205.11(a)(1)(vi) or (vii). 11(b) Notice of Error From Consumer Paragraph 11(b)(1)--Timing; Contents 1. Content of error notice. The notice of error is effective even if it does not contain the consumer's account number, so long as the financial institution is able to identify the account in question. For example, the consumer could provide a Social Security number or other unique means of identification. 2. Investigation pending receipt of information. While a financial institution may request a written, signed statement from the consumer relating to a notice of error, it may not delay initiating or completing an investigation pending receipt of the statement. 3. Statement held for consumer. When a consumer has arranged for periodic statements to be held until picked up, the statement for a particular cycle is deemed to have been transmitted on the date the financial institution first makes the statement available to the consumer. 4. Failure to provide statement. When a financial institution fails to provide the consumer with a periodic statement, a request for a copy is governed by this section if the consumer gives notice within 60 days from the date on which the statement should have been transmitted. 5. Discovery of error by institution. The error resolution procedures of this section apply when a notice of error is received from the consumer, and not when the financial institution itself discovers and corrects an error. 6. Notice at particular phone number or address. A financial institution may require the consumer to give notice only at the telephone number or address disclosed by the institution, provided the institution maintains reasonable procedures to refer the consumer to the specified telephone number or address if the consumer attempts to give notice to the institution in a different manner. 7. Effect of late notice. An institution is not required to comply with the requirements of this section for any notice of error from the consumer that is received by the institution later than 60 days from the date on which the periodic statement first reflecting the error is sent. Where the consumer's assertion of error involves an unauthorized EFT, however, the institution must comply with Sec. 205.6 before it may impose any liability on the consumer. Paragraph 11(b)(2)--Written Confirmation 1. Written confirmation-of-error notice. If the consumer sends a written confirmation of [[Page 152]] error to the wrong address, the financial institution must process the confirmation through normal procedures. But the institution need not provisionally credit the consumer's account if the written confirmation is delayed beyond 10 business days in getting to the right place because it was sent to the wrong address. 11(c) Time Limits and Extent of Investigation 1. Notice to consumer. Unless otherwise indicated in this section, the financial institution may provide the required notices to the consumer either orally or in writing. 2. Written confirmation of oral notice. A financial institution must begin its investigation promptly upon receipt of an oral notice. It may not delay until it has received a written confirmation. 3. Charges for error resolution. If a billing error occurred, whether as alleged or in a different amount or manner, the financial institution may not impose a charge related to any aspect of the error- resolution process (including charges for documentation or investigation). Since the act grants the consumer error-resolution rights, the institution should avoid any chilling effect on the good- faith assertion of errors that might result if charges are assessed when no billing error has occurred. 4. Correction without investigation. A financial institution may make, without investigation, a final correction to a consumer's account in the amount or manner alleged by the consumer to be in error, but must comply with all other applicable requirements of Sec. 205.11. 5. Correction notice. A financial institution may include the notice of correction on a periodic statement that is mailed or delivered within the 10-business-day or 45-calendar-day time limits and that clearly identifies the correction to the consumer's account. The institution must determine whether such a mailing will be prompt enough to satisfy the requirements of this section, taking into account the specific facts involved. 6. Correction of an error. If the financial institution determines an error occurred, within either the 10-day or 45-day period, it must correct the error (subject to the liability provisions of Sec. Sec. 205.6 (a) and (b)) including, where applicable, the crediting of interest and the refunding of any fees imposed by the institution. In a combined credit/EFT transaction, for example, the institution must refund any finance charges incurred as a result of the error. The institution need not refund fees that would have been imposed whether or not the error occurred. 7. Extent of required investigation. A financial institution complies with its duty to investigate, correct, and report its determination regarding an error described in Sec. 205.11(a)(1)(vii) by transmitting the requested information, clarification, or documentation within the time limits set forth in Sec. 205.11(c). If the institution has provisionally credited the consumer's account in accordance with Sec. 205.11(c)(2), it may debit the amount upon transmitting the requested information, clarification, or documentation. Paragraph 11(c)(2)(i) 1. Compliance with all requirements. Financial institutions exempted from provisionally crediting a consumer's account under Sec. 205.11(c)(2)(i) (A) and (B) must still comply with all other requirements of Sec. 205.11. Paragraph 11(c)(3)--Extension of Time Periods 1. POS debit card transactions. The extended deadlines for investigating errors resulting from POS debit card transactions apply to all debit card transactions, including those for cash only, at merchants' POS terminals, and also including mail and telephone orders. The deadlines do not apply to transactions at an ATM, however, even though the ATM may be in a merchant location. Paragraph 11(c)(4)--Investigation 1. Third parties. When information or documentation requested by the consumer is in the possession of a third party with whom the financial institution does not have an agreement, the institution satisfies the error resolution requirement by so advising the consumer within the specified time period. 2. Scope of investigation. When an alleged error involves a payment to a third party under the financial institution's telephone bill- payment plan, a review of the institution's own records is sufficient, assuming no agreement exists between the institution and the third party concerning the bill-payment service. 3. POS transfers. When a consumer alleges an error involving a transfer to a merchant via a POS terminal, the institution must verify the information previously transmitted when executing the transfer. For example, the financial institution may request a copy of the sales receipt to verify that the amount of the transfer correctly corresponds to the amount of the consumer's purchase. 4. Agreement. An agreement that a third party will honor an access device is an agreement for purposes of this paragraph. A financial institution does not have an agreement for purposes of Sec. 205.11(c)(4)(ii) solely because it participates in transactions that occur under the federal recurring payments programs, or that are cleared through an ACH or similar arrangement for the clearing and settlement of fund transfers generally, or because it agrees to be bound by the rules of such an arrangement. 5. No EFT agreement. When there is no agreement between the institution and the [[Page 153]] third party for the type of EFT involved, the financial institution must review any relevant information within the institution's own records for the particular account to resolve the consumer's claim. The extent of the investigation required may vary depending on the facts and circumstances. However, a financial institution may not limit its investigation solely to the payment instructions where additional information within its own records pertaining to the particular account in question could help to resolve a consumer's claim. Information that may be reviewed as part of an investigation might include: i. The ACH transaction records for the transfer; ii. The transaction history of the particular account for a reasonable period of time immediately preceding the allegation of error; iii. Whether the check number of the transaction in question is notably out-of-sequence; iv. The location of either the transaction or the payee in question relative to the consumer's place of residence and habitual transaction area; v. Information relative to the account in question within the control of the institution's third-party service providers if the financial institution reasonably believes that it may have records or other information that could be dispositive; or vi. Any other information appropriate to resolve the claim. 11(d) Procedures if Financial Institution Determines No Error or Different Error Occurred 1. Error different from that alleged. When a financial institution determines that an error occurred in a manner or amount different from that described by the consumer, it must comply with the requirements of both Sec. 205.11 (c) and (d), as relevant. The institution may give the notice of correction and the explanation separately or in a combined form. Paragraph 11(d)(1)--Written Explanation 1. Request for documentation. When a consumer requests copies of documents, the financial institution must provide the copies in an understandable form. If an institution relied on magnetic tape it must convert the applicable data into readable form, for example, by printing it and explaining any codes. Paragraph 11(d)(2)--Debiting Provisional Credit 1. Alternative procedure for debiting of credited funds. The financial institution may comply with the requirements of this section by notifying the consumer that the consumer's account will be debited five business days from the transmittal of the notification, specifying the calendar date on which the debiting will occur. 2. Fees for overdrafts. The financial institution may not impose fees for items it is required to honor under Sec. 205.11. It may, however, impose any normal transaction or item fee that is unrelated to an overdraft resulting from the debiting. If the account is still overdrawn after five business days, the institution may impose the fees or finance charges to which it is entitled, if any, under an overdraft credit plan. 11(e) Reassertion of Error 1. Withdrawal of error; right to reassert. The financial institution has no further error resolution responsibilities if the consumer voluntarily withdraws the notice alleging an error. A consumer who has withdrawn an allegation of error has the right to reassert the allegation unless the financial institution had already complied with all of the error resolution requirements before the allegation was withdrawn. The consumer must do so, however, within the original 60-day period. Section 205.12--Relation to Other Laws 12(a) Relation to Truth in Lending 1. Determining applicable regulation. i. For transactions involving access devices that also function as credit cards, whether Regulation E or Regulation Z (12 CFR part 226) applies depends on the nature of the transaction. For example, if the transaction solely involves an extension of credit, and does not include a debit to a checking account (or other consumer asset account), the liability limitations and error resolution requirements of Regulation Z apply. If the transaction debits a checking account only (with no credit extended), the provisions of Regulation E apply. If the transaction debits a checking account but also draws on an overdraft line of credit attached to the account, Regulation E's liability limitations apply, in addition to Sec. Sec. 226.13 (d) and (g) of Regulation Z (which apply because of the extension of credit associated with the overdraft feature on the checking account). If a consumer's access device is also a credit card and the device is used to make unauthorized withdrawals from a checking account, but also is used to obtain unauthorized cash advances directly from a line of credit that is separate from the checking account, both Regulation E and Regulation Z apply. ii. The following examples illustrate these principles: A. A consumer has a card that can be used either as a credit card or a debit card. When used as a debit card, the card draws on the consumer's checking account. When used as a credit card, the card draws only on a separate line of credit. If the card is stolen and used as a credit card to make purchases or to [[Page 154]] get cash advances at an ATM from the line of credit, the liability limits and error resolution provisions of Regulation Z apply; Regulation E does not apply. B. In the same situation, if the card is stolen and is used as a debit card to make purchases or to get cash withdrawals at an ATM from the checking account, the liability limits and error resolution provisions of Regulation E apply; Regulation Z does not apply. C. In the same situation, assume the card is stolen and used both as a debit card and as a credit card; for example, the thief makes some purchases using the card as a debit card, and other purchases using the card as a credit card. Here, the liability limits and error resolution provisions of Regulation E apply to the unauthorized transactions in which the card was used as a debit card, and the corresponding provisions of Regulation Z apply to the unauthorized transactions in which the card was used as a credit card. D. Assume a somewhat different type of card, one that draws on the consumer's checking account and can also draw on an overdraft line of credit attached to the checking account. There is no separate line of credit, only the overdraft line, associated with the card. In this situation, if the card is stolen and used, the liability limits and the error resolution provisions of Regulation E apply. In addition, if the use of the card has resulted in accessing the overdraft line of credit, the error resolution provisions of Sec. 226.13(d) and (g) of Regulation Z also apply, but not the other error resolution provisions of Regulation Z. 2. Issuance rules. For access devices that also constitute credit cards, the issuance rules of Regulation E apply if the only credit feature is a preexisting credit line attached to the asset account to cover overdrafts (or to maintain a specified minimum balance) or an overdraft service, as defined in Sec. 205.17(a). Regulation Z (12 CFR part 226) rules apply if there is another type of credit feature; for example, one permitting direct extensions of credit that do not involve the asset account. 3. Overdraft service. The addition of an overdraft service, as that term is defined in Sec. 205.17(a), to an accepted access device does not constitute the addition of a credit feature subject to Regulation Z. Instead, the provisions of Regulation E apply, including the liability limitations (Sec. 205.6) and the requirement to obtain consumer consent to the service before any fees or charges for paying an overdraft may be assessed on the account (Sec. 205.17). 12(b) Preemption of Inconsistent State Laws 1. Specific determinations. The regulation prescribes standards for determining whether state laws that govern EFTs, and state laws regarding gift certificates, store gift cards, or general-use prepaid cards that govern dormancy, inactivity, or service fees, or expiration dates, are preempted by the act and the regulation. A state law that is inconsistent may be preempted even if the Board has not issued a determination. However, nothing in Sec. 205.12(b) provides a financial institution with immunity for violations of state law if the institution chooses not to make state disclosures and the Board later determines that the state law is not preempted. 2. Preemption determination. The Board determined that certain provisions in the state law of Michigan are preempted by the federal law, effective March 30, 1981: i. Definition of unauthorized use. Section 5(4) is preempted to the extent that it relates to the section of state law governing consumer liability for unauthorized use of an access device. ii. Consumer liability for unauthorized use of an account. Section 14 is inconsistent with Sec. 205.6 and is less protective of the consumer than the federal law. The state law places liability on the consumer for the unauthorized use of an account in cases involving the consumer's negligence. Under the federal law, a consumer's liability for unauthorized use is not related to the consumer's negligence and depends instead on the consumer's promptness in reporting the loss or theft of the access device. iii. Error resolution. Section 15 is preempted because it is inconsistent with Sec. 205.11 and is less protective of the consumer than the federal law. The state law allows financial institutions up to 70 days to resolve errors, whereas the federal law generally requires errors to be resolved within 45 days. iv. Receipts and periodic statements. Sections 17 and 18 are preempted because they are inconsistent with Sec. 205.9. The state provisions require a different disclosure of information than does the federal law. The receipt provision is also preempted because it allows the consumer to be charged for receiving a receipt if a machine cannot furnish one at the time of a transfer. Section 205.13--Administrative Enforcement; Record Retention 13(b) Record Retention 1. Requirements. A financial institution need not retain records that it has given disclosures and documentation to each consumer; it need only retain evidence demonstrating that its procedures reasonably ensure the consumers' receipt of required disclosures and documentation. [[Page 155]] Section 205.14--Electronic Fund Transfer Service Provider Not Holding Consumer's Account 14(a) Electronic Fund Transfer Service Providers Subject to Regulation 1. Applicability. This section applies only when a service provider issues an access device to a consumer for initiating transfers to or from the consumer's account at a financial institution and the two entities have no agreement regarding this EFT service. If the service provider does not issue an access device to the consumer for accessing an account held by another institution, it does not qualify for the treatment accorded by Sec. 205.14. For example, this section does not apply to an institution that initiates preauthorized payroll deposits to consumer accounts on behalf of an employer. By contrast, Sec. 205.14 can apply to an institution that issues a code for initiating telephone transfers to be carried out through the ACH from a consumer's account at another institution. This is the case even if the consumer has accounts at both institutions. 2. ACH agreements. The ACH rules generally do not constitute an agreement for purposes of this section. However, an ACH agreement under which members specifically agree to honor each other's debit cards is an ``agreement,'' and thus this section does not apply. 14(b) Compliance by Electronic Fund Transfer Service Provider 1. Liability. The service provider is liable for unauthorized EFTs that exceed limits on the consumer's liability under Sec. 205.6. Paragraph 14(b)(1)--Disclosures and Documentation 1. Periodic statements from electronic fund transfer service provider. A service provider that meets the conditions set forth in this paragraph does not have to issue periodic statements. A service provider that does not meet the conditions need only include on periodic statements information about transfers initiated with the access device it has issued. Paragraph 14(b)(2)--Error Resolution 1. Error resolution. When a consumer notifies the service provider of an error, the EFT service provider must investigate and resolve the error in compliance with Sec. 205.11 as modified by Sec. 205.14(b)(2). If an error occurred, any fees or charges imposed as a result of the error, either by the service provider or by the account-holding institution (for example, overdraft or dishonor fees) must be reimbursed to the consumer by the service provider. 14(c) Compliance by Account-Holding Institution Paragraph 14(c)(1) 1. Periodic statements from account-holding institution. The periodic statement provided by the account-holding institution need only contain the information required by Sec. 205.9(b)(1). Section 205.16--Disclosures at Automated Teller Machines 16(b) General Paragraph 16(b)(1) 1. Specific notices. An ATM operator that imposes a fee for a specific type of transaction--such as for a cash withdrawal, but not for a balance inquiry, or for some cash withdrawals, but not for others (such as where the card was issued by a foreign bank or by a card issuer that has entered into a special contractual relationship with the ATM operator regarding surcharges)--may provide a notice on or at the ATM that a fee will be imposed or a notice that a fee may be imposed for providing EFT services or may specify the type of EFT for which a fee is imposed. If, however, a fee will be imposed in all instances, the notice must state that a fee will be imposed. Section 205.17--Requirements for Overdraft Services 17(a) Definition 1. Exempt securities- and commodities-related lines of credit. The definition of ``overdraft service'' does not include the payment of transactions in a securities or commodities account pursuant to which credit is extended by a broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission. 17(b) Opt-In Requirement 1. Scope. i. Account-holding institutions. Section 205.17(b) applies to ATM and one-time debit card transactions made with a debit card issued by or on behalf of the account-holding institution. Section 205.17(b) does not apply to ATM and one-time debit card transactions made with a debit card issued by or through a third party unless the debit card is issued on behalf of the account-holding institution. ii. Coding of transactions. A financial institution complies with the rule if it adapts its systems to identify debit card transactions as either one-time or recurring. If it does so, the financial institution may rely on the transaction's coding by merchants, other institutions, and other third parties as a one-time or a preauthorized or recurring debit card transaction. [[Page 156]] iii. One-time debit card transactions. The opt-in applies to any one-time debit card transaction, whether the card is used, for example, at a point-of-sale, in an on-line transaction, or in a telephone transaction. iv. Application of fee prohibition. The prohibition on assessing overdraft fees under Sec. 205.17(b)(1) applies to all institutions. For example, the prohibition applies to an institution that has a policy and practice of declining to authorize and pay any ATM or one-time debit card transactions when the institution has a reasonable belief at the time of the authorization request that the consumer does not have sufficient funds available to cover the transaction. However, the institution is not required to comply with Sec. Sec. 205.17(b)(1)(i)- (iv), including the notice and opt-in requirements, if it does not assess overdraft fees for paying ATM or one-time debit card transactions that overdraw the consumer's account. Assume an institution does not provide an opt-in notice, but authorizes an ATM or one-time debit card transaction on the reasonable belief that the consumer has sufficient funds in the account to cover the transaction. If, at settlement, the consumer has insufficient funds in the account (for example, due to intervening transactions that post to the consumer's account), the institution is not permitted to assess an overdraft fee or charge for paying that transaction. 2. No affirmative consent. A financial institution may pay overdrafts for ATM and one-time debit card transactions even if a consumer has not affirmatively consented or opted in to the institution's overdraft service. If the institution pays such an overdraft without the consumer's affirmative consent, however, it may not impose a fee or charge for doing so. These provisions do not limit the institution's ability to debit the consumer's account for the amount overdrawn if the institution is permitted to do so under applicable law. 3. Overdraft transactions not required to be authorized or paid. Section 205.17 does not require a financial institution to authorize or pay an overdraft on an ATM or one-time debit card transaction even if the consumer has affirmatively consented to an institution's overdraft service for such transactions. 4. Reasonable opportunity to provide affirmative consent. A financial institution provides a consumer with a reasonable opportunity to provide affirmative consent when, among other things, it provides reasonable methods by which the consumer may affirmatively consent. A financial institution provides such reasonable methods, if-- i. By mail. The institution provides a form for the consumer to fill out and mail to affirmatively consent to the service. ii. By telephone. The institution provides a readily-available telephone line that consumers may call to provide affirmative consent. iii. By electronic means. The institution provides an electronic means for the consumer to affirmatively consent. For example, the institution could provide a form that can be accessed and processed at its Web site, where the consumer may click on a check box to provide consent and confirm that choice by clicking on a button that affirms the consumer's consent. iv. In person. The institution provides a form for the consumer to complete and present at a branch or office to affirmatively consent to the service. 5. Implementing opt-in at account-opening. A financial institution may provide notice regarding the institution's overdraft service prior to or at account-opening. A financial institution may require a consumer, as a necessary step to opening an account, to choose whether or not to opt into the payment of ATM or one-time debit card transactions pursuant to the institution's overdraft service. For example, the institution could require the consumer, at account opening, to sign a signature line or check a box on a form (consistent with comment 17(b)-6) indicating whether or not the consumer affirmatively consents at account opening. If the consumer does not check any box or provide a signature, the institution must assume that the consumer does not opt in. Or, the institution could require the consumer to choose between an account that does not permit the payment of ATM or one-time debit card transactions pursuant to the institution's overdraft service and an account that permits the payment of such overdrafts, provided that the accounts comply with Sec. 205.17(b)(2) and Sec. 205.17(b)(3). 6. Affirmative consent required. A consumer's affirmative consent, or opt-in, to a financial institution's overdraft service must be obtained separately from other consents or acknowledgements obtained by the institution, including a consent to receive disclosures electronically. An institution may obtain a consumer's affirmative consent by providing a blank signature line or check box that the consumer could sign or select to affirmatively consent, provided that the signature line or check box is used solely for purposes of evidencing the consumer's choice whether or not to opt into the overdraft service and not for other purposes. An institution does not obtain a consumer's affirmative consent by including preprinted language about the overdraft service in an account disclosure provided with a signature card or contract that the consumer must sign to open the account and that acknowledges the consumer's acceptance of the account terms. Nor does an institution obtain a consumer's affirmative consent by providing a signature card that contains a pre-selected check box indicating that the consumer is requesting the service. [[Page 157]] 7. Confirmation. A financial institution may comply with the requirement in Sec. 205.17(b)(1)(iv) to provide confirmation of the consumer's affirmative consent by mailing or delivering to the consumer a copy of the consumer's completed opt-in notice, or by mailing or delivering a letter or notice to the consumer acknowledging that the consumer has elected to opt into the institution's service. The confirmation, which must be provided in writing, or electronically if the consumer agrees, must include a statement informing the consumer of the right to revoke the opt-in at any time. See Sec. 205.17(d)(6), which permits institutions to include the revocation statement on the initial opt-in notice. An institution complies with the confirmation requirement if it has adopted reasonable procedures designed to ensure that overdraft fees are assessed only in connection with transactions paid after the confirmation has been mailed or delivered to the consumer. 8. Outstanding Negative Balance. If a fee or charge is based on the amount of the outstanding negative balance, an institution is prohibited from assessing any such fee if the negative balance is solely attributable to an ATM or one-time debit card transaction, unless the consumer has opted into the institution's overdraft service for ATM or one-time debit card transactions. However, the rule does not prohibit an institution from assessing such a fee if the negative balance is attributable in whole or in part to a check, ACH, or other type of transaction not subject to the prohibition on assessing overdraft fees in Sec. 205.17(b)(1). 9. Daily or Sustained Overdraft, Negative Balance, or Similar Fee or Charge i. Daily or sustained overdraft, negative balance, or similar fees or charges. If a consumer has not opted into the institution's overdraft service for ATM or one-time debit card transactions, the fee prohibition in Sec. 205.17(b)(1) applies to all overdraft fees or charges for paying those transactions, including but not limited to daily or sustained overdraft, negative balance, or similar fees or charges. Thus, where a consumer's negative balance is solely attributable to an ATM or one-time debit card transaction, the rule prohibits the assessment of such fees unless the consumer has opted in. However, the rule does not prohibit an institution from assessing daily or sustained overdraft, negative balance, or similar fees or charges if a negative balance is attributable in whole or in part to a check, ACH, or other type of transaction not subject to the fee prohibition. When the negative balance is attributable in part to an ATM or one-time debit card transaction, and in part to a check, ACH, or other type of transaction not subject to the fee prohibition, the date on which such a fee may be assessed is based on the date on which the check, ACH, or other type of transaction is paid into overdraft. ii. Examples. The following examples illustrate how an institution complies with the fee prohibition. For each example, assume the following: (a) The consumer has not opted into the payment of ATM or one-time debit card overdrafts; (b) these transactions are paid into overdraft because the amount of the transaction at settlement exceeded the amount authorized or the amount was not submitted for authorization; (c) under the account agreement, the institution may charge a per-item fee of $20 for each overdraft, and a one-time sustained overdraft fee of $20 on the fifth consecutive day the consumer's account remains overdrawn; (d) the institution posts ATM and debit card transactions before other transactions; and (e) the institution allocates deposits to account debits in the same order in which it posts debits. a. Assume that a consumer has a $50 account balance on March 1. That day, the institution posts a one-time debit card transaction of $60 and a check transaction of $40. The institution charges an overdraft fee of $20 for the check overdraft but cannot assess an overdraft fee for the debit card transaction. At the end of the day, the consumer has an account balance of negative $70. The consumer does not make any deposits to the account, and no other transactions occur between March 2 and March 6. Because the consumer's negative balance is attributable in part to the $40 check (and associated overdraft fee), the institution may charge a sustained overdraft fee on March 6 in connection with the check. b. Same facts as in a., except that on March 3, the consumer deposits $40 in the account. The institution allocates the $40 to the debit card transaction first, consistent with its posting order policy. At the end of the day on March 3, the consumer has an account balance of negative $30, which is attributable to the check transaction (and associated overdraft fee). The consumer does not make any further deposits to the account, and no other transactions occur between March 4 and March 6. Because the remaining negative balance is attributable to the March 1 check transaction, the institution may charge a sustained overdraft fee on March 6 in connection with the check. c. Assume that a consumer has a $50 account balance on March 1. That day, the institution posts a one-time debit card transaction of $60. At the end of that day, the consumer has an account balance of negative $10. The institution may not assess an overdraft fee for the debit card transaction. On March 3, the institution pays a check transaction of $100 and charges an overdraft fee of $20. At the end of that day, the consumer has [[Page 158]] an account balance of negative $130. The consumer does not make any deposits to the account, and no other transactions occur between March 4 and March 8. Because the consumer's negative balance is attributable in part to the check, the institution may assess a $20 sustained overdraft fee. However, because the check was paid on March 3, the institution must use March 3 as the start date for determining the date on which the sustained overdraft fee may be assessed. Thus, the institution may charge a $20 sustained overdraft fee on March 8. iii. Alternative approach. For a consumer who does not opt into the institution's overdraft service for ATM and one-time debit card transactions, an institution may also comply with the fee prohibition in Sec. 205.17(b)(1) by not assessing daily or sustained overdraft, negative balance, or similar fees or charges unless a consumer's negative balance is attributable solely to check, ACH or other types of transactions not subject to the fee prohibition while that negative balance remains outstanding. In such case, the institution would not have to determine how to allocate subsequent deposits that reduce but do not eliminate the negative balance. For example, if a consumer has a negative balance of $30, of which $10 is attributable to a one-time debit card transaction, an institution complies with the fee prohibition if it does not assess a sustained overdraft fee while that negative balance remains outstanding. Paragraph 17(b)(2)--Conditioning Payment of Other Overdrafts on Consumer's Affirmative Consent 1. Application of the same criteria. The prohibitions on conditioning in Sec. 205.17(b)(2) generally require an institution to apply the same criteria for deciding when to pay overdrafts for checks, ACH transactions, and other types of transactions, whether or not the consumer has affirmatively consented to the institution's overdraft service with respect to ATM and one-time debit card overdrafts. For example, if an institution's internal criteria would lead the institution to pay a check overdraft if the consumer had affirmatively consented to the institution's overdraft service for ATM and one-time debit card transactions, it must also apply the same criteria in a consistent manner in determining whether to pay the check overdraft if the consumer has not opted in. 2. No requirement to pay overdrafts on checks, ACH transactions, or other types of transactions. The prohibition on conditioning in Sec. 205.17(b)(2) does not require an institution to pay overdrafts on checks, ACH transactions, or other types of transactions in all circumstances. Rather, the rule simply prohibits institutions from considering the consumer's decision not to opt in when deciding whether to pay overdrafts for checks, ACH transactions, or other types of transactions. Paragraph 17(b)(3)--Same Account Terms, Conditions, and Features 1. Variations in terms, conditions, or features. A financial institution may not vary the terms, conditions, or features of an account provided to a consumer who does not affirmatively consent to the payment of ATM or one-time debit card transactions pursuant to the institution's overdraft service. This includes, but is not limited to: i. Interest rates paid and fees assessed; ii. The type of ATM or debit card provided to the consumer. For instance, an institution may not provide consumers who do not opt in a PIN-only card while providing a debit card with both PIN and signature- debit functionality to consumers who opt in; iii. Minimum balance requirements; or iv. Account features such as on-line bill payment services. 2. Limited-feature bank accounts. Section 205.17(b)(3) does not prohibit institutions from offering deposit account products with limited features, provided that a consumer is not required to open such an account because the consumer did not opt in. For example, Sec. 205.17(b)(3) does not prohibit an institution from offering a checking account designed to comply with state basic banking laws, or designed for consumers who are not eligible for a checking account because of their credit or checking account history, which may include features limiting the payment of overdrafts. However, a consumer who applies, and is otherwise eligible, for a full-service or other particular deposit account product may not be provided instead with the account with more limited features because the consumer has declined to opt in. Paragraph 17(b)(4)--Exception to the Notice and Opt-In Requirement 17(c) Timing 1. Early compliance. A financial institution may provide the notice required by Sec. 205(b)(1)(i) and obtain the consumer's affirmative consent to the financial institution's overdraft service for ATM and one-time debit card transactions prior to July 1, 2010, provided that the financial institution complies with all of the requirements of this section. 2. Permitted fees or charges. Fees or charges for ATM and one-time debit card overdrafts may be assessed only for overdrafts paid on or after the date the financial institution receives the consumer's affirmative consent to the institution's overdraft service. See also comment 17(b)-7. [[Page 159]] 17(d) Content and Format 1. Overdraft service. The description of the institution's overdraft service should indicate that the consumer has the right to affirmatively consent, or opt into payment of overdrafts for ATM and one-time debit card transactions. The description should also disclose the institution's policies regarding the payment of overdrafts for other transactions, including checks, ACH transactions, and automatic bill payments, provided that this content is not more prominent than the description of the consumer's right to opt into payment of overdrafts for ATM and one-time debit card transactions. As applicable, the institution also should indicate that it pays overdrafts at its discretion, and should briefly explain that if the institution does not authorize and pay an overdraft, it may decline the transaction. 2. Maximum fee. If the amount of a fee may vary from transaction to transaction, the financial institution may indicate that the consumer may be assessed a fee ``up to'' the maximum fee. The financial institution must disclose all applicable overdraft fees, including but not limited to: i. Per item or per transaction fees; ii. Daily overdraft fees; iii. Sustained overdraft fees, where fees are assessed when the consumer has not repaid the amount of the overdraft after some period of time (for example, if an account remains overdrawn for five or more business days); or iv. Negative balance fees. 3. Opt-in methods. The opt-in notice must include the methods by which the consumer may consent to the overdraft service for ATM and one- time debit card transactions. Institutions may tailor Model Form A-9 to the methods offered to consumers for affirmatively consenting to the service. For example, an institution need not provide the tear-off portion of Model Form A-9 if it is only permitting consumers to opt-in telephonically or electronically. Institutions may, but are not required, to provide a signature line or check box where the consumer can indicate that he or she declines to opt in. 4. Identification of consumer's account. An institution may use any reasonable method to identify the account for which the consumer submits the opt-in notice. For example, the institution may include a line for a printed name and an account number, as shown in Model Form A-9. Or, the institution may print a bar code or use other tracking information. See also comment 17(b)-6, which describes how an institution obtains a consumer's affirmative consent. 5. Alternative plans for covering overdrafts. If the institution offers both a line of credit subject to the Board's Regulation Z (12 CFR part 226) and a service that transfers funds from another account of the consumer held at the institution to cover overdrafts, the institution must state in its opt-in notice that both alternative plans are offered. For example, the notice might state ``We also offer overdraft protection plans, such as a link to a savings account or to an overdraft line of credit, which may be less expensive than our standard overdraft practices.'' If the institution offers one, but not the other, it must state in its opt-in notice the alternative plan that it offers. If the institution does not offer either plan, it should omit the reference to the alternative plans. 17(f) Continuing Right To Opt-In or To Revoke the Opt-In 1. Fees or charges for overdrafts incurred prior to revocation. Section 205.17(f)(1) provides that a consumer may revoke his or her prior consent at any time. If a consumer does so, this provision does not require the financial institution to waive or reverse any overdraft fees assessed on the consumer's account prior to the institution's implementation of the consumer's revocation request. 17(g) Duration of Opt-In. 1. Termination of overdraft service. A financial institution may, for example, terminate the overdraft service when the consumer makes excessive use of the service. Sec. 205.18 Requirements for Financial Institutions Offering Payroll Card Accounts. 18(a) Coverage 1. Issuance of access device. Consistent with Sec. 205.5(a), a financial institution may issue an access device only in response to an oral or written request for the device, or as a renewal or substitute for an accepted access device. A consumer is deemed to request an access device for a payroll card account when the consumer chooses to receive salary or other compensation through a payroll card account. 2. Application to employers and service providers. Typically, employers and third-party service providers do not meet the definition of a ``financial institution'' subject to the regulation because they neither hold payroll card accounts nor issue payroll cards and agree with consumers to provide EFT services in connection with payroll card accounts. However, to the extent an employer or a service provider undertakes either of these functions, it would be deemed a financial institution under the regulation. 18(b) Alternative to Periodic Statements 1. Posted transactions. A history of transactions provided under Sec. Sec. 205.18(b)(1)(ii) and (iii) shall reflect transfers once they have been posted to the account. Thus, an institution does not need to include transactions [[Page 160]] that have been authorized, but that have not yet posted to the account. 2. Electronic history. The electronic history required under Sec. 205.18(b)(1)(ii) must be provided in a form that the consumer may keep, as required under Sec. 205.4(a)(1). Financial institutions may satisfy this requirement if they make the electronic history available in a format that is capable of being retained. For example, an institution satisfies the requirement if it provides a history at an Internet Web site in a format that is capable of being printed or stored electronically using an Internet web browser. 18(c) Modified Requirements 1. Error resolution safe harbor provision. Institutions that choose to investigate notices of error provided up to 120 days from the date a transaction has posted to a consumer's account may still disclose the error resolution time period required by the regulation (as set forth in the Model Form in Appendix A-7). Specifically, an institution may disclose to payroll card account holders that the institution will investigate any notice of error provided within 60 days of the consumer electronically accessing an account or receiving a written history upon request that reflects the error, even if, for some or all transactions, the institution investigates any notice of error provided up to 120 days from the date that the transaction alleged to be in error has posted to the consumer's account. Similarly, an institution's summary of the consumer's liability (as required under Sec. 205.7(b)(1)) may disclose that liability is based on the consumer providing notice of error within 60 days of the consumer electronically accessing an account or receiving a written history reflecting the error, even if, for some or all transactions, the institution allows a consumer to assert a notice of error up to 120 days from the date of posting of the alleged error. 2. Electronic access. A consumer is deemed to have accessed a payroll card account electronically when the consumer enters a user identification code or password or otherwise complies with a security procedure used by an institution to verify the consumer's identity. An institution is not required to determine whether a consumer has in fact accessed information about specific transactions to trigger the beginning of the 60-day periods for liability limits and error resolution under Sec. Sec. 205.6 and 205.11. 3. Untimely notice of error. An institution that provides a transaction history under Sec. 205.18(b)(1) is not required to comply with the requirements of Sec. 205.11 for any notice of error from the consumer pertaining to a transfer that occurred more than 60 days prior to the earlier of the date the consumer electronically accesses the account or the date the financial institution sends a written history upon the consumer's request. (Alternatively, as provided in Sec. 205.18(c)(4)(ii), an institution need not comply with the requirements of Sec. 205.11 with respect to any notice of error received from the consumer more than 120 days after the date of posting of the transfer allegedly in error.) Where the consumer's assertion of error involves an unauthorized EFT, however, the institution must comply with Sec. 205.6 before it may impose any liability on the consumer. Section 205.20--Requirements for Gift Cards and Gift Certificates 20(a) Definitions 1. Form of card, code, or device. Section 205.20 applies to any card, code, or other device that meets one of the definitions in Sec. 205.20(a)(1) through (a)(3) (and is not otherwise excluded by Sec. 205.20(b)), even if it is not issued in card form. Section 205.20 applies, for example, to an account number or bar code that can be used to access underlying funds. Similarly, Sec. 205.20 applies to a device with a chip or other embedded mechanism that links the device to stored funds, such as a mobile phone or sticker containing a contactless chip that enables the consumer to access the stored funds. A card, code, or other device that meets the definition in Sec. 205.20(a)(1) through (a)(3) includes an electronic promise (see comment 20(a)-2) as well as a promise that is not electronic. See, however, Sec. 205.20(b)(5). In addition, Sec. 205.20 applies if a merchant issues a code that entitles a consumer to redeem the code for goods or services, regardless of the medium in which the code is issued (see, however, Sec. 205.20(b)(5)), and whether or not it may be redeemed electronically or in the merchant's store. Thus, for example, if a merchant e-mails a code that a consumer may redeem in a specified amount either on-line or in the merchant's store, that code is covered under Sec. 205.20, unless one of the exclusions in Sec. 205.20(b) apply. 2. Electronic promise. The term ``electronic promise'' as used in EFTA Sections 915(a)(2)(B), (a)(2)(C), and (a)(2)(D) means a person's commitment or obligation communicated or stored in electronic form made to a consumer to provide payment for goods or services for transactions initiated by the consumer. The electronic promise is itself represented by a card, code or other device that is issued or honored by the person, reflecting the person's commitment or obligation to pay. For example, if a merchant issues a code that can be given as a gift and that entitles the recipient to redeem the code in an on-line transaction for goods or services, that code represents an electronic promise by the merchant and is a card, code, or other device covered by Sec. 205.20. 3. Cards, codes, or other devices redeemable for specific goods or services. Certain cards, codes, or other devices may be redeemable [[Page 161]] upon presentation for a specific good or service, or ``experience,'' such as a spa treatment, hotel stay, or airline flight. In other cases, a card, code, or other device may entitle the consumer to a certain percentage off the purchase of a good or service, such as 20% off of any purchase in a store. Such cards, codes, or other devices generally are not subject to the requirements of this section because they are not issued to a consumer ``in a specified amount'' as required under the definitions of ``gift certificate,'' ``store gift card,'' or ``general- use prepaid card.'' However, if the card, code, or other device is issued in a specified or denominated amount that can be applied toward the purchase of a specific good or service, such as a certificate or card redeemable for a spa treatment up to $50, the card, code, or other device is subject to this section, unless one of the exceptions in Sec. 205.20(b) apply. See, e.g., Sec. 205.20(b)(3). Similarly, if the card, code, or other device states a specific monetary value, such as ``a $50 value,'' the card, code, or other device is subject to this section, unless an exclusion in Sec. 205.20(b) applies. 4. Issued primarily for personal, family, or household purposes. Section 205.20 only applies to cards, codes, or other devices that are sold or issued to a consumer primarily for personal, family, or household purposes. A card, code, or other device initially purchased by a business is subject to this section if the card, code, or other device is purchased for redistribution or resale to consumers primarily for personal, family, or household purposes. Moreover, the fact that a card, code, or other device may be primarily funded by a business, for example, in the case of certain rewards or incentive cards, does not mean the card, code, or other device is outside the scope of Sec. 205.20, if the card, code, or other device will be provided to a consumer primarily for personal, family, or household purposes. But see Sec. 205.20(b)(3). Whether a card, code, or other device is issued to a consumer primarily for personal, family, or household purposes will depend on the facts and circumstances. For example, if a program manager purchases store gift cards directly from an issuing merchant and sells those cards through the program manager's retail outlets, such gift cards are subject to the requirements of Sec. 205.20 because the store gift cards are sold to consumers primarily for personal, family, or household purposes. In contrast, a card, code, or other device generally would not be issued to consumers primarily for personal, family, or household purposes, and therefore would fall outside the scope of Sec. 205.20, if the purchaser of the card, code, or device is contractually prohibited from reselling or redistributing the card, code, or device to consumers primarily for personal, family, or household purposes, and reasonable policies and procedures are maintained to avoid such sale or distribution for such purposes. However, if an entity that has purchased cards, codes, or other devices for business purposes sells or distributes such cards, codes, or other devices to consumers primarily for personal, family, or household purposes, that entity does not comply with Sec. 205.20 if it has not otherwise met the substantive and disclosure requirements of the rule or unless an exclusion in Sec. 205.20(b) applies. 5. Examples of cards, codes, or other devices issued for business purposes. Examples of cards, codes, or other devices that are issued and used for business purposes and therefore excluded from the definitions of ``gift certificate,'' ``store gift card,'' or ``general-use prepaid card'' include i. Cards, codes, or other devices to reimburse employees for travel or moving expenses. ii. Cards, codes, or other devices for employees to use to purchase office supplies and other business-related items. Paragraph 20(a)(2)--Store Gift Card 1. Relationship between ``gift certificate'' and ``store gift card''. The term ``store gift card'' in Sec. 205.20(a)(2) includes ``gift certificate'' as defined in Sec. 205.20(a)(1). For example, a numeric or alphanumeric code representing a specified dollar amount or value that is electronically sent to a consumer as a gift which can be redeemed or exchanged by the recipient to obtain goods or services may be both a ``gift certificate'' and a ``store gift card'' if the specified amount or value cannot be increased. 2. Affiliated group of merchants. The term ``affiliated group of merchants'' means two or more affiliated merchants or other persons that are related by common ownership or common corporate control (see, e.g., 12 CFR 227.3(b) and 12 CFR 223.2) and that share the same name, mark, or logo. For example, the term includes franchisees that are subject to a common set of corporate policies or practices under the terms of their franchise licenses. The term also applies to two or more merchants or other persons that agree among themselves, by contract or otherwise, to redeem cards, codes, or other devices bearing the same name, mark, or logo (other than the mark, logo, or brand of a payment network), for the purchase of goods or services solely at such merchants or persons. For example, assume a movie theatre chain and a restaurant chain jointly agree to issue cards that share the same ``Flix and Food'' logo that can be redeemed solely towards the purchase of movie tickets or concessions at any of the participating movie theatres, or towards the purchase of food or beverages at any of the participating restaurants. For purposes of Sec. 205.20, the movie theatre chain and the restaurant chain would be considered to be an affiliated group of merchants, and the cards are considered to be ``store gift [[Page 162]] cards.'' However, merchants or other persons are not considered to be affiliated merely because they agree to accept a card that bears the mark, logo, or brand of a payment network. 3. Mall gift cards. See comment 20(a)(3)-2. Paragraph 20(a)(3)--General-Use Prepaid Card 1. Redeemable upon presentation at multiple, unaffiliated merchants. A card, code, or other device is redeemable upon presentation at multiple, unaffiliated merchants if, for example, such merchants agree to honor the card, code, or device if it bears the mark, logo, or brand of a payment network, pursuant to the rules of the payment network. 2. Mall gift cards. Mall gift cards that are intended to be used or redeemed for goods or services at participating retailers within a shopping mall may be considered store gift cards or general-use prepaid cards depending on the merchants with which the cards may be redeemed. For example, if a mall card may only be redeemed at merchants within the mall itself, the card is more likely to be redeemable at an affiliated group of merchants and considered a store gift card. However, certain mall cards also carry the brand of a payment network and can be used at any retailer that accepts that card brand, including retailers located outside of the mall. Such cards are considered general-use prepaid cards. Paragraph 20(a)(4)--Loyalty, Award, or Promotional Gift Card 1. Examples of loyalty, award, or promotional programs. Examples of loyalty, award or promotional programs under Sec. 205.20(a)(4) include, but are not limited to i. Consumer retention programs operated or administered by a merchant or other person that provide to consumers cards or coupons redeemable for or towards goods or services or other monetary value as a reward for purchases made or for visits to the participating merchant; ii. Sales promotions operated or administered by a merchant or product manufacturer that provide coupons or discounts redeemable for or towards goods or services or other monetary value. iii. Rebate programs operated or administered by a merchant or product manufacturer that provide cards redeemable for or towards goods or services or other monetary value to consumers in connection with the consumer's purchase of a product or service and the consumer's completion of the rebate submission process. iv. Sweepstakes or contests that distribute cards redeemable for or towards goods or services or other monetary value to consumers as an invitation to enter into the promotion for a chance to win a prize. v. Referral programs that provide cards redeemable for or towards goods or services or other monetary value to consumers in exchange for referring other potential consumers to a merchant. vi. Incentive programs through which an employer provides cards redeemable for or towards goods or services or other monetary value to employees, for example, to recognize job performance, such as increased sales, or to encourage employee wellness and safety. vii. Charitable or community relations programs through which a company provides cards redeemable for or towards goods or services or other monetary value to a charity or community group for their fundraising purposes, for example, as a reward for a donation or as a prize in a charitable event. 2. Issued for loyalty, award, or promotional purposes. To indicate that a card, code, or other device is issued for loyalty, award, or promotional purposes as required by Sec. 205.20(a)(4)(iii), it is sufficient for the card, code, or other device to state on the front, for example, ``Reward'' or ``Promotional.'' 3. Reference to toll-free number and Web site. If a card, code, or other device issued in connection with a loyalty, award, or promotional program does not have any fees, the disclosure under Sec. 205.20(a)(4)(iii)(D) is not required on the card, code, or other device. Paragraph 20(a)(6)--Service Fee 1. Service fees. Under Sec. 205.20(a)(6), a service fee includes a periodic fee for holding or use of a gift certificate, store gift card, or general-use prepaid card. A periodic fee includes any fee that may be imposed on a gift certificate, store gift card, or general-use prepaid card from time to time for holding or using the certificate or card, such as a monthly maintenance fee, a transaction fee, an ATM fee, a reload fee, a foreign currency transaction fee, or a balance inquiry fee, whether or not the fee is waived for a certain period of time or is only imposed after a certain period of time. A service fee does not include a one-time fee or a fee that is unlikely to be imposed more than once while the underlying funds are still valid, such as an initial issuance fee, a cash-out fee, a supplemental card fee, or a lost or stolen certificate or card replacement fee. Paragraph 20(a)(7)--Activity 1. Activity. Under Sec. 205.20(a)(7), any action that results in an increase or decrease of the funds underlying a gift certificate, store gift card, or general-use prepaid card, other than the imposition of a fee, or an adjustment due to an error or a reversal of a prior transaction, constitutes activity for purposes of Sec. 205.20. For example, the purchase and activation of a certificate or card, the use of the [[Page 163]] certificate or card to purchase a good or service, or the reloading of funds onto a store gift card or general-use prepaid card constitutes activity. However, the imposition of a fee, the replacement of an expired, lost, or stolen certificate or card, and a balance inquiry do not constitute activity. In addition, if a consumer attempts to engage in a transaction with a gift certificate, store gift card, or general- use prepaid card, but the transaction cannot be completed due to technical or other reasons, such attempt does not constitute activity. Furthermore, if the funds underlying a gift certificate, store gift card, or general-use prepaid card are adjusted because there was an error or the consumer has returned a previously purchased good, the adjustment also does not constitute activity with respect to the certificate or card. 20(b) Exclusions 1. Application of exclusion. A card, code, or other device is excluded from the definition of ``gift certificate,'' ``store gift card,'' or ``general-use prepaid card'' if it meets any of the exclusions in Sec. 205.20(b). An excluded card, code, or other device generally is not subject to any of the requirements of this section. (See, however, Sec. 205.20(a)(4)(iii), requiring certain disclosures for loyalty, award, or promotional gift cards.) 2. Eligibility for multiple exclusions. A card, code, or other device may qualify for one or more exclusions. For example, a corporation may give its employees a gift card that is marketed solely to businesses for incentive-related purposes, such as to reward job performance or promote employee safety. In this case, the card may qualify for the exclusion for loyalty, award, or promotional gift cards under Sec. 205.20(b)(3), or for the exclusion for cards, codes, or other devices not marketed to the general public under Sec. 205.20(b)(4). In addition, as long as any one of the exclusions applies, a card, code, or other device is not covered by Sec. 205.20, even if other exclusions do not apply. In the above example, the corporation may give its employees a type of gift card that can also be purchased by a consumer directly from a merchant. Under these circumstances, while the card does not qualify for the exclusion for cards, codes, or other devices not marketed to the general public under Sec. 205.20(b)(4) because the card can also be obtained through retail channels, it is nevertheless exempt from the substantive requirements of Sec. 205.20 because it is a loyalty, award, or promotional gift card. (See, however, Sec. 205.20(a)(4)(iii), requiring certain disclosures for loyalty, award, or promotional gift cards.) Similarly, a person may market a reloadable card to teenagers for occasional expenses that enables parents to monitor spending. Although the card does not qualify for the exclusion for cards, codes, or other devices not marketed to the general public under Sec. 205.20(b)(4), it may nevertheless be exempt from the requirements of Sec. 205.20 under Sec. 205.20(b)(2) if it is reloadable and not marketed or labeled as a gift card or gift certificate. Paragraph 20(b)(1)--Usable Solely for Telephone Services 1. Examples of excluded products. The exclusion for products usable solely for telephone services applies to prepaid cards for long-distance telephone service, prepaid cards for wireless telephone service and prepaid cards for other services that function similar to telephone services, such as prepaid cards for voice over internet protocol (VoIP) access time. Paragraph 20(b)(2)--Reloadable and Not Marketed or Labeled as a Gift Card or Gift Certificate 1. Reloadable. A card, code, or other device is ``reloadable'' if the terms and conditions of the agreement permit funds to be added to the card, code, or other device after the initial purchase or issuance. A card, code, or other device is not ``reloadable'' merely because the issuer or processor is technically able to add functionality that would otherwise enable the card, code, or other device to be reloaded. 2. Marketed or labeled as a gift card or gift certificate. The term ``marketed or labeled as a gift card or gift certificate'' means directly or indirectly offering, advertising or otherwise suggesting the potential use of a card, code or other device, as a gift for another person. Whether the exclusion applies generally does not depend on the type of entity that makes the promotional message. For example, a card may be marketed or labeled as a gift card or gift certificate if anyone (other than the purchaser of the card), including the issuer, the retailer, the program manager that may distribute the card, or the payment network on which a card is used, promotes the use of the card as a gift card or gift certificate. A card, code, or other device, including a general-purpose reloadable card, is marketed or labeled as a gift card or gift certificate even if it is only occasionally marketed as a gift card or gift certificate. For example, a network-branded general purpose reloadable card would be marketed or labeled as a gift card or gift certificate if the issuer principally advertises the card as a less costly alternative to a bank account but promotes the card in a television, radio, newspaper, or Internet advertisement, or on signage as ``the perfect gift'' during the holiday season. However, the mere mention of the availability of gift cards or gift certificates in an advertisement or on a sign that [[Page 164]] also indicates the availability of other excluded prepaid cards does not by itself cause the excluded prepaid cards to be marketed as a gift card or a gift certificate. For example, the posting of a sign in a store that refers to the availability of gift cards does not by itself constitute the marketing of otherwise excluded prepaid cards that may also be sold in the store as gift cards or gift certificates, provided that a consumer acting reasonably under the circumstances would not be led to believe that the sign applies to all prepaid cards sold in the store. (See, however, comment 20(b)(2)-4.ii.) 3. Examples of marketed or labeled as a gift card or gift certificate. i. Examples of marketed or labeled as a gift card or gift certificate include A. Using the word ``gift'' or ``present'' on a card, certificate, or accompanying material, including documentation, packaging and promotional displays; B. Representing or suggesting that a certificate or card can be given to another person, for example, as a ``token of appreciation'' or a ``stocking stuffer,'' or displaying a congratulatory message on the card, certificate or accompanying material; C. Incorporating gift-giving or celebratory imagery or motifs, such as a bow, ribbon, wrapped present, candle, or congratulatory message, on a card, certificate, accompanying documentation, or promotional material; ii. The term does not include A. Representing that a card or certificate can be used as a substitute for a checking, savings, or deposit account; B. Representing that a card or certificate can be used to pay for a consumer's health-related expenses--for example, a card tied to a health savings account; C. Representing that a card or certificate can be used as a substitute for travelers checks or cash; D. Representing that a card or certificate can be used as a budgetary tool, for example, by teenagers, or to cover emergency expenses. 4. Reasonable policies and procedures to avoid marketing as a gift card. The exclusion for a card, code, or other device that is reloadable and not marketed or labeled as a gift card or gift certificate in Sec. 205.20(b)(2) applies if a reloadable card, code, or other device is not marketed or labeled as a gift card or gift certificate and if persons subject to the rule, including issuers, program managers, and retailers, maintain policies and procedures reasonably designed to avoid such marketing. Such policies and procedures may include contractual provisions prohibiting a reloadable card, code, or other device from being marketed or labeled as a gift card or gift certificate, merchandising guidelines or plans regarding how the product must be displayed in a retail outlet, and controls to regularly monitor or otherwise verify that the card, code or other device is not being marketed as a gift card. Whether a reloadable card, code, or other device has been marketed as a gift card or gift certificate will depend on the facts and circumstances, including whether a reasonable consumer would be led to believe that the card, code, or other device is a gift card or gift certificate. The following examples illustrate the application of Sec. 205.20(b)(2) i. An issuer or program manager of prepaid cards agrees to sell general-purpose reloadable cards through a retailer. The contract between the issuer or program manager and the retailer establishes the terms and conditions under which the cards may be sold and marketed at the retailer. The terms and conditions prohibit the general-purpose reloadable cards from being marketed as a gift card or gift certificate, and require policies and procedures to regularly monitor or otherwise verify that the cards are not being marketed as such. The issuer or program manager sets up one promotional display at the retailer for gift cards and another physically separated display for excluded products under Sec. 205.20(b), including general-purpose reloadable cards and wireless telephone cards, such that a reasonable consumer would not believe that the excluded cards are gift cards. The exclusion in Sec. 205.20(b)(2) applies because policies and procedures reasonably designed to avoid the marketing of the general-purpose reloadable cards as gift cards or gift certificates are maintained, even if a retail clerk inadvertently stocks or a consumer inadvertently places a general- purpose reloadable card on the gift card display. ii. Same facts as in i., except that the issuer or program manager sets up a single promotional display at the retailer on which a variety of prepaid cards are sold, including store gift cards and general- purpose reloadable cards. A sign stating ``Gift Cards'' appears prominently at the top of the display. The exclusion in Sec. 205.20(b)(2) does not apply with respect to the general-purpose reloadable cards because policies and procedures reasonably designed to avoid the marketing of excluded cards as gift cards or gift certificates are not maintained. iii. Same facts as in i., except that the issuer or program manager sets up a single promotional multi-sided display at the retailer on which a variety of prepaid card products, including store gift cards and general-purpose reloadable cards are sold. Gift cards are segregated from excluded cards, with gift cards on one side of the display and excluded cards on a different side of a display. Signs of equal prominence at the top of each side of the display clearly differentiate between gift cards and the other types of prepaid cards that are available for sale. The retailer does not use any more conspicuous [[Page 165]] signage suggesting the general availability of gift cards, such as a large sign stating ``Gift Cards'' at the top of the display or located near the display. The exclusion in Sec. 205.20(b)(2) applies because policies and procedures reasonably designed to avoid the marketing of the general-purpose reloadable cards as gift cards or gift certificates are maintained, even if a retail clerk inadvertently stocks or a consumer inadvertently places a general-purpose reloadable card on the gift card display. iv. Same facts as in i., except that the retailer sells a variety of prepaid card products, including store gift cards and general-purpose reloadable cards, arranged side-by-side in the same checkout lane. The retailer does not affirmatively indicate or represent that gift cards are available, such as by displaying any signage or other indicia at the checkout lane suggesting the general availability of gift cards. The exclusion in Sec. 205.20(b)(2) applies because policies and procedures reasonably designed to avoid marketing the general-purpose reloadable cards as gift cards or gift certificates are maintained. 5. On-line sales of prepaid cards. Some Web sites may prominently advertise or promote the availability of gift cards or gift certificates in a manner that suggests to a consumer that the Web site exclusively sells gift cards or gift certificates. For example, a Web site may display a banner advertisement or a graphic on the home page that prominently states ``Gift Cards,'' ``Gift Giving,'' or similar language without mention of other available products, or use a Web address that includes only a reference to gift cards or gift certificates in the address. In such a case, a consumer acting reasonably under the circumstances could be led to believe that all prepaid products sold on the Web site are gift cards or gift certificates. Under these facts, the Web site has marketed all such products, including general-purpose reloadable cards, as gift cards or gift certificates, and the exclusion in Sec. 205.20(b)(2) does not apply. 6. Temporary non-reloadable cards issued in connection with a general-purpose reloadable card. Certain general-purpose reloadable cards that are typically marketed as an account substitute initially may be sold or issued in the form of a temporary non-reloadable card. After the card is purchased, the cardholder is typically required to call the issuer to register the card and to provide identifying information in order to obtain a reloadable replacement card. In most cases, the temporary non-reloadable card can be used for purchases until the replacement reloadable card arrives and is activated by the cardholder. Because the temporary non-reloadable card may only be obtained in connection with the general-purpose reloadable card, the exclusion in Sec. 205.20(b)(2) applies so long as the card is not marketed as a gift card or gift certificate. Paragraph 20(b)(4)--Not Marketed to the General Public 1. Marketed to the general public. A card, code, or other device is marketed to the general public if the potential use of the card, code, or other device is directly or indirectly offered, advertised, or otherwise promoted to the general public. A card, code, or other device may be marketed to the general public through any advertising medium, including television, radio, newspaper, the Internet, or signage. However, the posting of a company policy that funds may be disbursed by prepaid card (such as a sign posted at a cash register or customer service center stating that store credit will be issued by prepaid card) does not constitute the marketing of a card, code, or other device to the general public. In addition, the method of distribution by itself is not dispositive in determining whether a card, code, or other device is marketed to the general public. Factors that may be considered in determining whether the exclusion applies to a particular card, code, or other device include the means or channel through which the card, code, or device may be obtained by a consumer, the subset of consumers that are eligible to obtain the card, code, or device, and whether the availability of the card, code, or device is advertised or otherwise promoted in the marketplace. 2. Examples. The following examples illustrate the application of the exclusion in Sec. 205.20(b)(4) i. A merchant sells its gift cards at a discount to a business which may give them to employees or loyal consumers as incentives or rewards. In determining whether the gift card falls within the exclusion in Sec. 205.20(b)(4), the merchant must consider whether the card is of a type that is advertised or made available to consumers generally or can be obtained elsewhere. If the card can also be purchased through retail channels, the exclusion in Sec. 205.20(b)(4) does not apply, even if the consumer obtained the card from the business as an incentive or reward. See, however, Sec. 205.20(b)(3). ii. A national retail chain decides to market its gift cards only to members of its frequent buyer program. Similarly, a bank may decide to sell gift cards only to its customers. If a member of the general public may become a member of the program or a customer of the bank, the card does not fall within the exclusion in Sec. 205.20(b)(4) because the general public has the ability to obtain the cards. See, however, Sec. 205.20(b)(3). iii. A card issuer advertises a reloadable card to teenagers and their parents promoting the card for use by teenagers for occasional expenses, schoolbooks and emergencies and by parents to monitor spending. [[Page 166]] Because the card is marketed to and may be sold to any member of the general public, the exclusion in Sec. 205.20(b)(4) does not apply. See, however, Sec. 205.20(b)(2). iv. An insurance company settles a policyholder's claim and distributes the insurance proceeds to the consumer by means of a prepaid card. Because the prepaid card is simply the means for providing the insurance proceeds to the consumer and the availability of the card is not advertised to the general public, the exclusion in Sec. 205.20(b)(4) applies. v. A merchant provides store credit to a consumer following a merchandise return by issuing a prepaid card that clearly indicates that the card contains funds for store credit. Because the prepaid card is issued for the stated purpose of providing store credit to the consumer and the ability to receive refunds by a prepaid card is not advertised to the general public, the exclusion in Sec. 205.20(b)(4) applies. vi. A tax preparation company elects to distribute tax refunds to its clients by issuing prepaid cards, but does not advertise or otherwise promote the ability to receive proceeds in this manner. Because the prepaid card is simply the mechanism for providing the tax refund to the consumer, and the tax preparer does not advertise the ability to obtain tax refunds by a prepaid card, the exclusion in Sec. 205.20(b)(4) applies. However, if the tax preparer promotes the ability to receive tax refund proceeds through a prepaid card as a way to obtain ``faster'' access to the proceeds, the exclusion in Sec. 205.20(b)(4) does not apply. Paragraph 20(b)(5)--Issued in Paper Form Only 1. Exclusion explained. To qualify for the exclusion in Sec. 205.20(b)(5), the sole means of issuing the card, code, or other device must be in a paper form. Thus, the exclusion generally applies to certificates issued in paper form where solely the paper itself may be used to purchase goods or services. A card, code or other device is not issued solely in paper form simply because it may be reproduced or printed on paper. For example, a bar code, card or certificate number, or certificate or coupon electronically provided to a consumer and redeemable for goods and services is not issued in paper form, even if it may be reproduced or otherwise printed on paper by the consumer. In this circumstance, although the consumer might hold a paper facsimile of the card, code, or other device, the exclusion does not apply because the information necessary to redeem the value was initially issued in electronic form. A paper certificate is within the exclusion regardless of whether it may be redeemed electronically. For example, a paper certificate or receipt that bears a bar code, code, or account number falls within the exclusion in Sec. 205.20(b)(5) if the bar code, code, or account number is not issued in any form other than on the paper. In addition, the exclusion in Sec. 205.20(b)(5) continues to apply in circumstances where an issuer replaces a gift certificate that was initially issued in paper form with a card or electronic code (for example, to replace a lost paper certificate). 2. Examples. The following examples illustrate the application of the exclusion in Sec. 205.20(b)(5) i. A merchant issues a paper gift certificate that entitles the bearer to a specified dollar amount that can be applied towards a future meal. The merchant fills in the certificate with the name of the certificate holder and the amount of the certificate. The certificate falls within the exclusion in Sec. 205.20(b)(5) because it is issued in paper form only. ii. A merchant allows a consumer to prepay for a good or service, such as a car wash or time at a parking meter, and issues a paper receipt bearing a numerical or bar code that the consumer may redeem to obtain the good or service. The exclusion in Sec. 205.20(b)(5) applies because the code is issued in paper form only. iii. A merchant issues a paper certificate or receipt bearing a bar code or certificate number that can later be scanned or entered into the merchant's system and redeemed by the certificate or receipt holder towards the purchase of goods or services. The bar code or certificate number is not issued by the merchant in any form other than paper. The exclusion in Sec. 205.20(b)(5) applies because the bar code or certificate number is issued in paper form only. iv. An on-line merchant electronically provides a bar code, card or certificate number, or certificate or coupon to a consumer that the consumer may print on a home printer and later redeem towards the purchase of goods or services. The exclusion in Sec. 205.20(b)(5) does not apply because the bar code or card or certificate number was issued to the consumer in electronic form, even though it can be reproduced or otherwise printed on paper by the consumer. Paragraph 20(b)(6)--Redeemable Solely for Admission to Events or Venues 1. Exclusion explained. The exclusion for cards, codes, or other devices that are redeemable solely for admission to events or venues at a particular location or group of affiliated locations generally applies to cards, codes, or other devices that are not redeemed for a specified monetary value, but rather solely for admission or entry to an event or venue. The exclusion also covers a card, code, or other device that is usable to purchase goods or services in addition to entry into the event or the venue, either at the event or venue or at an affiliated location or location in geographic proximity to the event or venue. [[Page 167]] 2. Examples. The following examples illustrate the application of the exclusion in Sec. 205.20(b)(6) i. A consumer purchases a prepaid card that entitles the holder to a ticket for entry to an amusement park. The prepaid card may only be used for entry to the park. The card qualifies for the exclusion in Sec. 205.20(b)(6) because it is redeemable for admission or entry and for goods or services in conjunction with that admission. In addition, if the prepaid card does not have a monetary value, and therefore is not ``issued in a specified amount,'' the card does not meet the definitions of ``gift certificate,'' ``store gift card,'' or ``general-use prepaid card'' in Sec. 205.20(a). See comment 20(a)-3. ii. Same facts as in i., except that the gift card also entitles the holder of the gift card to a dollar amount that can be applied towards the purchase of food and beverages or goods or services at the park or at nearby affiliated locations. The card qualifies for the exclusion in Sec. 205.20(b)(6) because it is redeemable for admission or entry and for goods or services in conjunction with that admission. iii. A consumer purchases a $25 gift card that the holder of the gift card can use to make purchases at a merchant, or, alternatively, can apply towards the cost of admission to the merchant's affiliated amusement park. The card is not eligible for the exclusion in Sec. 205.20(b)(6) because it is not redeemable solely for the admission or ticket itself (or for goods and services purchased in conjunction with such admission). The card meets the definition of ``store gift card'' and is therefore subject to Sec. 205.20, unless a different exclusion applies. 20(c) Form of Disclosures Paragraph 20(c)(1)--Clear and Conspicuous 1. Clear and conspicuous standard. All disclosures required by this section must be clear and conspicuous. Disclosures are clear and conspicuous for purposes of this section if they are readily understandable and, in the case of written and electronic disclosures, the location and type size are readily noticeable to consumers. Disclosures need not be located on the front of the certificate or card, except where otherwise required, to be considered clear and conspicuous. Disclosures are clear and conspicuous for the purposes of this section if they are in a print that contrasts with and is otherwise not obstructed by the background on which they are printed. For example, disclosures on a card or computer screen are not likely to be conspicuous if obscured by a logo printed in the background. Similarly, disclosures on the back of a card that are printed on top of indentations from embossed type on the front of the card are not likely to be conspicuous if the indentations obstruct the readability of the disclosures. To the extent permitted, oral disclosures meet the standard when they are given at a volume and speed sufficient for a consumer to hear and comprehend them. 2. Abbreviations and symbols. Disclosures may contain commonly accepted or readily understandable abbreviations or symbols, such as ``mo.'' for month or a ``/'' to indicate ``per.'' Under the clear and conspicuous standard, it is sufficient to state, for example, that a particular fee is charged ``$2.50/mo. after 12 mos.'' Paragraph 20(c)(2)--Format 1. Electronic disclosures. Disclosures provided electronically pursuant to this section are not subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.). Electronic disclosures must be in a retainable form. For example, a person may satisfy the requirement if it provides an online disclosure in a format that is capable of being printed. Electronic disclosures may not be provided through a hyperlink or in another manner by which the purchaser can bypass the disclosure. A person is not required to confirm that the consumer has read the electronic disclosures. Paragraph 20(c)(3)--Disclosure Prior to Purchase 1. Method of purchase. The disclosures required by this paragraph must be provided before a certificate or card is purchased regardless of whether the certificate or card is purchased in person, online, by telephone, or by other means. 2. Electronic disclosures. Section 205.20(c)(3) provides that the disclosures required by this section must be provided to the consumer prior to purchase. For certificates or cards purchased electronically, disclosures made to the consumer after a consumer has initiated an online purchase of a certificate or card, but prior to completing the purchase of the certificate or card, would satisfy the prior-to-purchase requirement. However, electronic disclosures made available on a person's Web site that may or may not be accessed by the consumer are not provided to the consumer and therefore would not satisfy the prior- to-purchase requirement. 3. Non-physical certificates and cards. If no physical certificate or card is issued, the disclosures must be provided to the consumer before the certificate or card is purchased. For example, where a gift certificate or card is a code that is provided by telephone, the required disclosures may be provided orally prior to purchase. See also Sec. 205.20(c)(2). [[Page 168]] Paragraph 20(c)(4)--Disclosures on the Certificate or Card 1. Non-physical certificates and cards. If no physical certificate or card is issued, the disclosures required by this paragraph must be disclosed on the code, confirmation, or other written or electronic document provided to the consumer. For example, where a gift certificate or card is a code or confirmation that is provided to a consumer on-line or sent to a consumer's e-mail address, the required disclosures may be provided electronically on the same document as the code or confirmation. 2. No disclosures on a certificate or card. Disclosures required by Sec. 205.20(c)(4) need not be made on a certificate or card if it is accompanied by a certificate or card that complies with this section. For example, a person may issue or sell a supplemental gift card that is smaller than a standard size and that does not bear the applicable disclosures if it is accompanied by a fully compliant certificate or card. See also comment 20(c)(2)-2. 20(d) Prohibition on Imposition of Fees or Charges 1. One-year period. Section 205.20(d) provides that a person may impose a dormancy, inactivity, or service fee only if there has been no activity with respect to a certificate or card for one year. The following examples illustrate this rule i. A certificate or card is purchased on January 15 of year one. If there has been no activity on the certificate or card since the certificate or card was purchased, a dormancy, inactivity, or service fee may be imposed on the certificate or card on January 15 of year two. ii. Same facts as i., and a fee was imposed on January 15 of year two. Because no more than one dormancy, inactivity, or service fee may be imposed in any given calendar month, the earliest date that another dormancy, inactivity, or service fee may be imposed, assuming there continues to be no activity on the certificate or card, is February 1 of year two. A dormancy, inactivity, or service fee is permitted to be imposed on February 1 of year two because there has been no activity on the certificate or card for the preceding year (February 1 of year one through January 31 of year two), and February is a new calendar month. The imposition of a fee on January 15 of year two is not activity for purposes of Sec. 205.20(d). See comment 20(a)(7)-1. iii. Same facts as i., and a fee was imposed on January 15 of year two. On January 31 of year two, the consumer uses the card to make a purchase. Another dormancy, inactivity, or service fee could not be imposed until January 31 of year three, assuming there has been no activity on the certificate or card since January 31 of year two. 2. Relationship between Sec. Sec. 205.20(d)(2) and (c)(3). Sections 205.20(d)(2) and (c)(3) contain similar, but not identical, disclosure requirements. Section 205.20(d)(2) requires the disclosure of dormancy, inactivity, and service fees on a certificate or card. Section 205.20(c)(3) requires that vendor person that issues or sells such certificate or card disclose to a consumer any dormancy, inactivity, and service fees associated with the certificate or card before such certificate or card may be purchased. Depending on the context, a single disclosure that meets the clear and conspicuous requirements of both Sec. Sec. 205.20(d)(2) and (c)(3) may be used to disclose a dormancy, inactivity, or service fee. For example, if the disclosures on a certificate or card, required by Sec. 205.20(d)(2), are visible to the consumer without having to remove packaging or other materials sold with the certificate or card, for a purchase made in person, the disclosures also meet the requirements of Sec. 205.20(c)(3). Otherwise, a dormancy, inactivity, or service fee may need to be disclosed multiple times to satisfy the requirements of Sec. Sec. 205.20(d)(2) and (c)(3). For example, if the disclosures on a certificate or card, required by Sec. 205.20(d)(2), are obstructed by packaging sold with the certificate or card, for a purchase made in person, they also must be disclosed on the packaging sold with the certificate or card to meet the requirements of Sec. 205.20(c)(3). 3. Relationship between Sec. Sec. 205.20(d)(2), (e)(3), and (f)(2). In addition to any disclosures required under Sec. 205.20(d)(2), any applicable disclosures under Sec. Sec. 205.20(e)(3) and (f)(2) of this section must also be provided on the certificate or card. 4. One fee per month. Under Sec. 205.20(d)(3), no more than one dormancy, inactivity, or service fee may be imposed in any given calendar month. For example, if a dormancy fee is imposed on January 1, following a year of inactivity, and a consumer makes a balance inquiry on January 15, a balance inquiry fee may not be imposed at that time because a dormancy fee was already imposed earlier that month and a balance inquiry fee is a type of service fee. If, however, the dormancy fee could be imposed on January 1, following a year of inactivity, and the consumer makes a balance inquiry on the same date, the person assessing the fees may choose whether to impose the dormancy fee or the balance inquiry fee on January 1. The restriction in Sec. 205.20(d)(3) does not apply to any fee that is not a dormancy, inactivity, or service fee. For example, assume a service fee is imposed on a general-use prepaid card on January 1, following a year of inactivity. If a consumer cashes out the remaining funds by check on January 15, a cash-out fee, to the extent such cash-out fee is permitted under Sec. 205.20(e)(4), may be imposed at that time because a cash-out fee is not a dormancy, inactivity, or service fee. [[Page 169]] 5. Accumulation of fees. Section 205.20(d) prohibits the accumulation of dormancy, inactivity, or service fees for previous periods into a single fee because such a practice would circumvent the limitation in Sec. 205.20(d)(3) that only one fee may be charged per month. For example, if a consumer purchases and activates a store gift card on January 1 but never uses the card, a monthly maintenance fee of $2.00 a month may not be accumulated such that a fee of $24 is imposed on January 1 the following year. 20(e) Prohibition on Sale of Gift Certificates or Cards With Expiration Dates 1. Reasonable opportunity. Under Sec. 205.20(e)(1), no person may sell or issue a gift certificate, store gift card, or general-use prepaid card with an expiration date, unless there are policies and procedures in place to provide consumers with a reasonable opportunity to purchase a certificate or card with at least five years remaining until the certificate or card expiration date. Consumers are deemed to have a reasonable opportunity to purchase a certificate or card with at least five years remaining until the certificate or card expiration date if i. There are policies and procedures established to prevent the sale of a certificate or card unless the certificate or card expiration date is at least five years after the date the certificate or card was sold or initially issued to a consumer; or ii. A certificate or card is available to consumers to purchase five years and six months before the certificate or card expiration date. 2. Applicability to replacement certificates or cards. Section 205.20(e)(1) applies solely to the purchase of a certificate or card. Therefore, Sec. 205.20(e)(1) does not apply to the replacement of such certificates or cards. Certificates or cards issued as a replacement may bear a certificate or card expiration date of less than five years from the date of issuance of the replacement certificate or card. If the certificate or card expiration date for a replacement certificate or card is later than the date set forth in Sec. 205.20(e)(2)(i), then pursuant to Sec. 205.20(e)(2), the expiration date for the underlying funds at the time the replacement certificate or card is issued must be no earlier than the expiration date for the replacement certificate or card. For purposes of Sec. 205.20(e)(2), funds are not considered to be loaded to a store gift card or general-use prepaid card solely because a replacement card has been issued or activated for use. 3. Disclosure of funds expiration--date not required. Section 205.20(e)(3)(i) does not require disclosure of the precise date the funds will expire. It is sufficient to disclose, for example, ``Funds expire 5 years from the date funds last loaded to the card.''; ``Funds can be used 5 years from the date money was last added to the card.''; or ``Funds do not expire.'' 4. Disclosure not required if no expiration date. If the certificate or card and underlying funds do not expire, the disclosure required by Sec. 205.20(e)(3)(i) need not be stated on the certificate or card. If the certificate or card and underlying funds expire at the same time, only one expiration date need be disclosed on the certificate or card. 5. Reference to toll-free telephone number and Web site. If a certificate or card does not expire, or if the underlying funds are not available after the certificate or card expires, the disclosure required by Sec. 205.20(e)(3)(ii) need not be stated on the certificate or card. See, however, Sec. 205.20(f)(2). 6. Relationship to Sec. 226.20(f)(2). The same toll-free telephone number and Web site may be used to comply with Sec. Sec. 226.20(e)(3)(ii) and (f)(2). Neither a toll-free number nor a Web site must be maintained or disclosed if no fees are imposed in connection with a certificate or card, and the certificate or card and the underlying funds do not expire. 7. Distinguishing between certificate or card expiration and funds expiration. If applicable, a disclosure must be made on the certificate or card that notifies a consumer that the certificate or card expires, but the funds either do not expire or expire later than the certificate or card, and that the consumer may contact the issuer for a replacement card. The disclosure must be made with equal prominence and in close proximity to the certificate or card expiration date. The close proximity requirement does not apply to oral disclosures. In the case of a certificate or card, close proximity means that the disclosure must be on the same side as the certificate or card expiration date. For example, if the disclosure is the same type size and is located immediately next to or directly above or below the certificate or card expiration date, without any intervening text or graphical displays, the disclosures would be deemed to be equally prominent and in close proximity. The disclosure need not be embossed on the certificate or card to be deemed equally prominent, even if the expiration date is embossed on the certificate or card. The disclosure may state on the front of the card, for example, ``Funds expire after card. Call for replacement card.'' or ``Funds do not expire. Call for new card after 09/2016.'' Disclosures made pursuant to Sec. 205.20(e)(3)(iii)(A) may also fulfill the requirements of Sec. 205.20(e)(3)(i). For example, making a disclosure that ``Funds do not expire'' to comply with Sec. 205.20(e)(3)(iii)(A) also fulfills the requirements of Sec. 205.20(e)(3)(i). 8. Expiration date safe harbor. A non-reloadable certificate or card that bears an expiration date that is at least seven years from the date of manufacture need not state the disclosure required by Sec. 205.20(e)(3)(iii). [[Page 170]] However, Sec. 205.20(e)(1) still prohibits the sale or issuance of such certificate or card unless there are policies and procedures in place to provide a consumer with a reasonable opportunity to purchase the certificate or card with at least five years remaining until the certificate or card expiration date. In addition, under Sec. 205.20(e)(2), the funds may not expire before the certificate or card expiration date, even if the expiration date of the certificate or card bears an expiration date that is more than five years at the date of purchase. For purposes of this safe harbor, the date of manufacture is the date on which the certificate or card expiration date is printed on the certificate or card. 9. Relationship between Sec. Sec. 205.20(d)(2), (e)(3), and (f)(2). In addition to any disclosures required to be made under Sec. 205.20(e)(3), any applicable disclosures under Sec. Sec. 205.20(d)(2) and (f)(2) must also be provided on the certificate or card. 10. Replacement or remaining balance of an expired certificate or card. When a certificate or card expires, but the underlying funds have not expired, an issuer, at its option in accordance with applicable state law, may provide either a replacement certificate or card or otherwise provide the certificate or card holder, for example, by check, with the remaining balance on the certificate or card. In either case, the issuer may not charge a fee for the service. 11. Replacement of a lost or stolen certificate or card not required. Section 205.20(e)(4) does not require the replacement of a certificate or card that has been lost or stolen. 12. Date of issuance or loading. For purposes of Sec. 205.20(e)(2)(i), a certificate or card is not issued or loaded with funds until the certificate or card is activated for use. 13. Application of expiration date provisions after redemption of certificate or card. The requirement that funds underlying a certificate or card must not expire for at least five years from the date of issuance or date of last load ceases to apply once the certificate or card has been fully redeemed, even if the underlying funds are not used to contemporaneously purchase a specific good or service. For example, some certificates or cards can be used to purchase music, media, or virtual goods. Once redeemed by a consumer, the entire balance on the certificate or card is debited from the certificate or card and credited or transferred to another ``account'' established by the merchant of such goods or services. The consumer can then make purchases of songs, media, or virtual goods from the merchant using that ``account'' either at the time the value is transferred from the certificate or card or at a later time. Under these circumstances, once the card has been fully redeemed and the ``account'' credited with the amount of the underlying funds, the five-year minimum expiration term no longer applies to the underlying funds. However, if the consumer only partially redeems the value of the certificate or card, the five-year minimum expiration term requirement continues to apply to the funds remaining on the certificate or card. 20(f) Additional Disclosure Requirements for Gift Certificates or Cards 1. Reference to toll-free telephone number and Web site. If a certificate or card does not have any fees, the disclosure under Sec. 205.20(f)(2) is not required on the certificate or card. See, however, Sec. 205.20(e)(3)(ii). 2. Relationship to Sec. 226.20(e)(3)(ii). The same toll-free telephone number and Web site may be used to comply with Sec. Sec. 226.20(e)(3)(ii) and (f)(2). Neither a toll-free number nor a Web site must be maintained or disclosed if no fees are imposed in connection with a certificate or card, and both the certificate or card and underlying funds do not expire. 3. Relationship between Sec. Sec. 205.20(d)(2), (e)(3), and (f)(2). In addition to any disclosures required pursuant to Sec. 205.20(f)(2), any applicable disclosures under Sec. Sec. 205.20(d)(2) and (e)(3) must also be provided on the certificate or card. 20(g) Compliance Dates 1. Period of eligibility for loyalty, award, or promotional programs. For purposes of Sec. 205.20(g)(2), the period of eligibility is the time period during which a consumer must engage in a certain action or actions to meet the terms of eligibility for a loyalty, award, or promotional program and obtain the card, code, or other device. Under Sec. 205.20(g)(2), a gift card issued pursuant to a loyalty, award, or promotional program that began prior to August 22, 2010 need not state the disclosures in Sec. 205.20(a)(4)(iii) regardless of whether the consumer became eligible to receive the gift card prior to August 22, 2010, or after that date. For example, a product manufacturer may provide a $20 rebate card to a consumer if the consumer purchases a particular product and submits a fully completed entry between January 1, 2010 and December 31, 2010. Similarly, a merchant may provide a $20 gift card to a consumer if the consumer makes $200 worth of qualifying purchases between June 1, 2010 and October 30, 2010. Under both examples, gift cards provided pursuant to these loyalty, award, or promotional programs need not state the disclosures in Sec. 205.20(a)(4)(iii) to qualify for the exclusion in Sec. 205.20(b)(3) for loyalty, award, or promotional gift cards because the period of eligibility for each program began prior to August 22, 2010. 20(h) Temporary Exemption 20(h)(1)--Delayed Effective Date 1. Application to certificates or cards produced prior to April 1, 2010. Certificates or [[Page 171]] cards produced prior to April 1, 2010 may be sold to a consumer on or after August 22, 2010 without satisfying the requirements of Sec. 205.20(c)(3), (d)(2), (e)(1), (e)(3), and (f) through January 30, 2011, provided that issuers of such certificates or cards comply with the additional substantive and disclosure requirements of Sec. Sec. 205.20(h)(1)(i) through (iv). Issuers of certificates or cards produced prior to April 1, 2010 need not satisfy these additional requirements if the certificates or cards fully comply with the rule (Sec. Sec. 205.20(a) through (f)). For example, the in-store signage and other disclosures required by Sec. 205.20(h)(2) do not apply to gift cards produced prior to April 1, 2010 that do not have fees and do not expire, and which otherwise comply with the rule. 2. Expiration of temporary exemption. Certificates or cards produced prior to April 1, 2010 that do not fully comply with Sec. Sec. 205.20(a) through (f) may not be issued or sold to consumers on or after January 31, 2011. 20(h)(2)--Additional Disclosures 1. Disclosures through third parties. Issuers may make the disclosures required by Sec. 205.20(h)(2) through a third party, such as a retailer or merchant. For example, an issuer may have a merchant install in-store signage with the disclosures required by Sec. 205.20(h)(2) on the issuer's behalf. 2. General advertising disclosures. Section 205.20(h)(2) does not impose an obligation on the issuer to advertise gift certificates, store gift cards, or general-use prepaid cards. Appendix A--Model Disclosure Clauses and Forms 1. Review of forms. The Board will not review or approve disclosure forms or statements for financial institutions. However, the Board has issued model clauses for institutions to use in designing their disclosures. If an institution uses these clauses accurately to reflect its service, the institution is protected from liability for failure to make disclosures in proper form. 2. Use of forms. The appendix contains model disclosure clauses for optional use by financial institutions to facilitate compliance with the disclosure requirements of sections 205.5(b)(2) and (b)(3), 205.6(a), 205.7, 205.8(b), 205.14(b)(1)(ii), 205.15(d)(1) and (d)(2), and 205.18(c)(1) and (c)(2). The use of appropriate clauses in making disclosures will protect a financial institution from liability under sections 915 and 916 of the act provided the clauses accurately reflect the institution's EFT services. 3. Altering the clauses. Financial institutions may use clauses of their own design in conjunction with the Board's model clauses. The inapplicable words or portions of phrases in parentheses should be deleted. The catchlines are not part of the clauses and need not be used. Financial institutions may make alterations, substitutions, or additions in the clauses to reflect the services offered, such as technical changes (including the substitution of a trade name for the word ``card,'' deletion of inapplicable services, or substitution of lesser liability limits). Several of the model clauses include references to a telephone number and address. Where two or more of these clauses are used in a disclosure, the telephone number and address may be referenced and need not be repeated. [Reg. E, 61 FR 19686, May 2, 1996, as amended at 66 FR 13412, Mar. 6, 2001; 66 FR 15192, Mar. 16, 2001; 66 FR 17794, Apr. 4, 2001; 71 FR 1661, Jan. 10, 2006; 71 FR 69437, Dec. 1, 2006; 71 FR 1482, Jan. 10, 2006, 71 FR 51450, Aug. 30, 2006; 72 FR 36593, July 5, 2007; 72 FR 63456, Nov. 9, 2007; 74 FR 59055, Nov. 17, 2009; 75 FR 31671, June 4, 2010; 75 FR 16615, Apr. 1, 2010; 75 FR 50688, Aug. 17, 2010; 75 FR 66649, Oct. 29, 2010] PART 206_LIMITATIONS ON INTERBANK LIABILITIES (REGULATION F)- -Table of Contents Sec. 206.1 Authority, purpose, and scope. 206.2 Definitions. 206.3 Prudential standards. 206.4 Credit exposure. 206.5 Capital levels of correspondents. 206.6 Waiver. Authority: 12 U.S.C. 371b-2 Source: Reg. F, 57 FR 60106, Dec. 18, 1992, unless otherwise noted. Sec. 206.1 Authority, purpose, and scope. (a) Authority and purpose. This part (Regulation F, 12 CFR part 206) is issued by the Board of Governors of the Federal Reserve System (Board) under authority of section 23 of the Federal Reserve Act (12 U.S.C. 371b-2). The purpose of this part is to limit the risks that the failure of a depository institution would pose to insured depository institutions. (b) Scope. This part applies to all depository institutions insured by the Federal Deposit Insurance Corporation. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003] Sec. 206.2 Definitions. As used in this part, unless the context requires otherwise: (a) Bank means an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act (12 [[Page 172]] U.S.C. 1813), and includes an insured national bank, state bank, District bank, or savings association, and an insured branch of a foreign bank. (b) Commonly-controlled correspondent means a correspondent that is commonly controlled with the bank and for which the bank is subject to liability under section 5(e) of the Federal Deposit Insurance Act. A correspondent is considered to be commonly controlled with the bank if: (1) 25 percent or more of any class of voting securities of the bank and the correspondent are owned, directly or indirectly, by the same depository institution or company; or (2) Either the bank or the correspondent owns 25 percent or more of any class of voting securities of the other. (c) Correspondent means a U.S. depository institution or a foreign bank, as defined in this part, to which a bank has exposure, but does not include a commonly controlled correspondent. (d) Exposure means the potential that an obligation will not be paid in a timely manner or in full. ``Exposure'' includes credit and liquidity risks, including operational risks, related to intraday and interday transactions. (e) Foreign bank means an institution that: (1) Is organized under the laws of a country other than the United States; (2) Engages in the business of banking; (3) Is recognized as a bank by the bank supervisory or monetary authorities of the country of the bank's organization; (4) Receives deposits to a substantial extent in the regular course of business; and (5) Has the power to accept demand deposits. (f) Primary federal supervisor has the same meaning as the term ``appropriate Federal banking agency'' in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (g) Total capital means the total of a bank's Tier 1 and Tier 2 capital under the risk-based capital guidelines provided by the bank's primary federal supervisor. For a qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), total capital means the bank's Tier 1 capital (as defined in Sec. 217.2 of this chapter and calculated in accordance with Sec. 217.12(b) of this chapter). For an insured branch of a foreign bank organized under the laws of a country that subscribes to the principles of the Basel Capital Accord, ``total capital'' means total Tier 1 and Tier 2 capital as calculated under the standards of that country. For an insured branch of a foreign bank organized under the laws of a country that does not subscribe to the principles of the Basel Capital Accord (Accord), ``total capital'' means total Tier 1 and Tier 2 capital as calculated under the provisions of the Accord. (h) U.S. depository institution means a bank, as defined in Sec. 206.2(a) of this part, other than an insured branch of a foreign bank. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003; 84 FR 61796, Nov. 13, 2019] Sec. 206.3 Prudential standards. (a) General. A bank shall establish and maintain written policies and procedures to prevent excessive exposure to any individual correspondent in relation to the condition of the correspondent. (b) Standards for selecting correspondents. (1) A bank shall establish policies and procedures that take into account credit and liquidity risks, including operational risks, in selecting correspondents and terminating those relationships. (2) Where exposure to a correspondent is significant, the policies and procedures shall require periodic reviews of the financial condition of the correspondent and shall take into account any deterioration in the correspondent's financial condition. Factors bearing on the financial condition of the correspondent include the capital level of the correspondent, level of nonaccrual and past due loans and leases, level of earnings, and other factors affecting the financial condition of the correspondent. Where public information on the financial condition of the correspondent is available, a bank may base its review of the financial [[Page 173]] condition of a correspondent on such information, and is not required to obtain non-public information for its review. However, for those foreign banks for which there is no public source of financial information, a bank will be required to obtain information for its review. (3) A bank may rely on another party, such as a bank rating agency or the bank's holding company, to assess the financial condition of or select a correspondent, provided that the bank's board of directors has reviewed and approved the general assessment or selection criteria used by that party. (c) Internal limits on exposure. (1) Where the financial condition of the correspondent and the form or maturity of the exposure create a significant risk that payments will not be made in full or in a timely manner, a bank's policies and procedures shall limit the bank's exposure to the correspondent, either by the establishment of internal limits or by other means. Limits shall be consistent with the risk undertaken, considering the financial condition and the form and maturity of exposure to the correspondent. Limits may be fixed as to amount or flexible, based on such factors as the monitoring of exposure and the financial condition of the correspondent. Different limits may be set for different forms of exposure, different products, and different maturities. (2) A bank shall structure transactions with a correspondent or monitor exposure to a correspondent, directly or through another party, to ensure that its exposure ordinarily does not exceed the bank's internal limits, including limits established for credit exposure, except for occasional excesses resulting from unusual market disturbances, market movements favorable to the bank, increases in activity, operational problems, or other unusual circumstances. Generally, monitoring may be done on a retrospective basis. The level of monitoring required depends on: (i) The extent to which exposure approaches the bank's internal limits; (ii) The volatility of the exposure; and (iii) The financial condition of the correspondent. (3) A bank shall establish appropriate procedures to address excesses over its internal limits. (d) Review by board of directors. The policies and procedures established under this section shall be reviewed and approved by the bank's board of directors at least annually. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003] Sec. 206.4 Credit exposure. (a) Limits on credit exposure. (1) The policies and procedures on exposure established by a bank under Sec. 206.3(c) of this part shall limit a bank's interday credit exposure to an individual correspondent to not more than 25 percent of the bank's total capital, unless the bank can demonstrate that its correspondent is at least adequately capitalized, as defined in Sec. 206.5(a) of this part. (2) Where a bank is no longer able to demonstrate that a correspondent is at least adequately capitalized for the purposes of Sec. 206.4(a) of this part, including where the bank cannot obtain adequate information concerning the capital ratios of the correspondent, the bank shall reduce its credit exposure to comply with the requirements of Sec. 206.4(a)(1) of this part within 120 days after the date when the current Report of Condition and Income or other relevant report normally would be available. (b) Calculation of credit exposure. Except as provided in Sec. Sec. 206.4 (c) and (d) of this part, the credit exposure of a bank to a correspondent shall consist of the bank's assets and off-balance sheet items that are subject to capital requirements under the capital adequacy guidelines of the bank's primary federal supervisor, and that involve claims on the correspondent or capital instruments issued by the correspondent. For this purpose, off-balance sheet items shall be valued on the basis of current exposure. The term ``credit exposure'' does not include exposure related to the settlement of transactions, intraday exposure, transactions in an agency or similar capacity where losses will be passed back to the principal or other party, or other [[Page 174]] sources of exposure that are not covered by the capital adequacy guidelines. (c) Netting. Transactions covered by netting agreements that are valid and enforceable under all applicable laws may be netted in calculating credit exposure. (d) Exclusions. A bank may exclude the following from the calculation of credit exposure to a correspondent: (1) Transactions, including reverse repurchase agreements, to the extent that the transactions are secured by government securities or readily marketable collateral, as defined in paragraph (f) of this section, based on the current market value of the collateral; (2) The proceeds of checks and other cash items deposited in an account at a correspondent that are not yet available for withdrawal; (3) Quality assets, as defined in paragraph (f) of this section, on which the correspondent is secondarily liable, or obligations of the correspondent on which a creditworthy obligor in addition to the correspondent is available, including but not limited to: (i) Loans to third parties secured by stock or debt obligations of the correspondent; (ii) Loans to third parties purchased from the correspondent with recourse; (iii) Loans or obligations of third parties backed by stand-by letters of credit issued by the correspondent; or (iv) Obligations of the correspondent backed by stand-by letters of credit issued by a creditworthy third party; (4) exposure that results from the merger with or acquisition of another bank for one year after that merger or acquisition is consummated; and (5) The portion of the bank's exposure to the correspondent that is covered by federal deposit insurance. (e) Credit exposure of subsidiaries. In calculating credit exposure to a correspondent under this part, a bank shall include credit exposure to the correspondent of any entity that the bank is required to consolidate on its Report of Condition and Income or Thrift Financial Report. (f) Definitions. As used in this section: (1) Government securities means obligations of, or obligations fully guaranteed as to principal and interest by, the United States government or any department, agency, bureau, board, commission, or establishment of the United States, or any corporation wholly owned, directly or indirectly, by the United States. (2) Readily marketable collateral means financial instruments or bullion that may be sold in ordinary circumstances with reasonable promptness at a fair market value determined by quotations based on actual transactions on an auction or a similarly available daily bid- ask-price market. (3)(i) Quality asset means an asset: (A) That is not in a nonaccrual status; (B) On which principal or interest is not more than thirty days past due; and (C) Whose terms have not been renegotiated or compromised due to the deteriorating financial conditions of the additional obligor. (ii) An asset is not considered a ``quality asset'' if any other loans to the primary obligor on the asset have been classified as ``substandard,'' ``doubtful,'' or ``loss,'' or treated as ``other loans specially mentioned'' in the most recent report of examination or inspection of the bank or an affiliate prepared by either a federal or a state supervisory agency. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003] Sec. 206.5 Capital levels of correspondents. (a) Adequately capitalized correspondents.\1\ For the purpose of this part, a correspondent is considered adequately capitalized if the correspondent has: --------------------------------------------------------------------------- \1\ As used in this part, the term ``adequately capitalized'' is similar but not identical to the definition of that term as used for the purposes of the prompt corrective action standards. See, e.g. 12 CFR part 208, subpart D. --------------------------------------------------------------------------- (1) A total risk-based capital ratio, as defined in paragraph (e)(1) of this section, of 8.0 percent or greater; (2) A Tier 1 risk-based capital ratio, as defined in paragraph (e)(2) of this section, of 4.0 percent or greater; and (3) A leverage ratio, as defined in paragraph (e)(3) of this section, of 4.0 percent or greater. [[Page 175]] (4) Notwithstanding paragraphs (a)(1) through (3) of this section, a qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio (as defined in Sec. 217.12 of this chapter) is considered to have met the minimum capital requirements in this paragraph (a). (b) Frequency of monitoring capital levels. A bank shall obtain information to demonstrate that a correspondent is at least adequately capitalized on a quarterly basis, either from the most recently available Report of Condition and Income, Thrift Financial Report, financial statement, or bank rating report for the correspondent. For a foreign bank correspondent for which quarterly financial statements or reports are not available, a bank shall obtain such information on as frequent a basis as such information is available. Information obtained directly from a correspondent for the purpose of this section should be based on the most recently available Report of Condition and Income, Thrift Financial Report, or financial statement of the correspondent. (c) Foreign banks. A correspondent that is a foreign bank may be considered adequately capitalized under this section without regard to the minimum leverage ratio required under paragraph (a)(3) of this section. (d) Reliance on information. A bank may rely on information as to the capital levels of a correspondent obtained from the correspondent, a bank rating agency, or other party that it reasonably believes to be accurate. (e) Definitions. For the purposes of this section: (1) Total risk-based capital ratio means the ratio of qualifying total capital to weighted risk assets. (2) Tier 1 risk-based capital ratio means the ratio of Tier 1 capital to weighted risk assets. (3) Leverage ratio means the ratio of Tier 1 capital to average total consolidated assets, as calculated in accordance with the capital adequacy guidelines of the correspondent's primary federal supervisor. (f) Calculation of capital ratios. (1) For a correspondent that is a U.S. depository institution, the ratios shall be calculated in accordance with the capital adequacy guidelines of the correspondent's primary federal supervisor. (2) For a correspondent that is a foreign bank organized in a country that has adopted the risk-based framework of the Basel Capital Accord, the ratios shall be calculated in accordance with the capital adequacy guidelines of the appropriate supervisory authority of the country in which the correspondent is chartered. (3) For a correspondent that is a foreign bank organized in a country that has not adopted the risk-based framework of the Basel Capital Accord, the ratios shall be calculated in accordance with the provisions of the Basel Capital Accord. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003; 84 FR 61796, Nov. 13, 2019] Sec. 206.6 Waiver. The Board may waive the application of Sec. 206.4(a) of this part to a bank if the primary Federal supervisor of the bank advises the Board that the bank is not reasonably able to obtain necessary services, including payment-related services and placement of funds, without incurring exposure to a correspondent in excess of the otherwise applicable limit. PART 207_DISCLOSURE AND REPORTING OF CRA-RELATED AGREEMENTS (REGULATION G)- -Table of Contents Sec. 207.1 Purpose and scope of this part. 207.2 Definition of covered agreement. 207.3 CRA communications. 207.4 Fulfillment of the CRA. 207.5 Related agreements considered a single agreement. 207.6 Disclosure of covered agreements. 207.7 Annual reports. 207.8 Release of information under FOIA. 207.9 Compliance provisions. 207.10 Transition provisions. 207.11 Other definitions and rules of construction used in this part. Authority: 12 U.S.C. 1831y. Source: Reg. G, 66 FR 2092, Jan. 10, 2001, unless otherwise noted. [[Page 176]] Sec. 207.1 Purpose and scope of this part. (a) General. This part implements section 711 of the Gramm-Leach- Bliley Act (12 U.S.C. 1831y). That section requires any nongovernmental entity or person, insured depository institution, or affiliate of an insured depository institution that enters into a covered agreement to-- (1) Make the covered agreement available to the public and the appropriate Federal banking agency; and (2) File an annual report with the appropriate Federal banking agency concerning the covered agreement. (b) Scope of this part. The provisions of this part apply to-- (1) State member banks and their subsidiaries; (2) Bank holding companies; (3) Savings and loan holding companies; (4) Affiliates of bank holding companies and savings and loan holding companies, other than banks, savings associations and subsidiaries of banks and savings associations; and (5) Nongovernmental entities or persons that enter into covered agreements with any company listed in paragraph (b)(1) through (4) of this section. (c) Relation to Community Reinvestment Act. This part does not affect in any way the Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.), the Board's Regulation BB (12 CFR part 228), or the Board's interpretations or administration of that Act or regulation. (d) Examples. (1) The examples in this part are not exclusive. Compliance with an example, to the extent applicable, constitutes compliance with this part. (2) Examples in a paragraph illustrate only the issue described in the paragraph and do not illustrate any other issues that may arise in this part. [Reg. G, 66 FR 2092, Jan. 10, 2001, as amended at 76 FR 56530, Sept. 13, 2011] Sec. 207.2 Definition of covered agreement. (a) General definition of covered agreement. A covered agreement is any contract, arrangement, or understanding that meets all of the following criteria-- (1) The agreement is in writing. (2) The parties to the agreement include-- (i) One or more insured depository institutions or affiliates of an insured depository institution; and (ii) One or more nongovernmental entities or persons (referred to hereafter as NGEPs). (3) The agreement provides for the insured depository institution or any affiliate to-- (i) Provide to one or more individuals or entities (whether or not parties to the agreement) cash payments, grants, or other consideration (except loans) that have an aggregate value of more than $10,000 in any calendar year; or (ii) Make to one or more individuals or entities (whether or not parties to the agreement) loans that have an aggregate principal amount of more than $50,000 in any calendar year. (4) The agreement is made pursuant to, or in connection with, the fulfillment of the Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) (CRA), as defined in Sec. 207.4. (5) The agreement is with a NGEP that has had a CRA communication as described in Sec. 207.3 prior to entering into the agreement. (b) Examples concerning written arrangements or understandings--(1) Example 1. A NGEP meets with an insured depository institution and states that the institution needs to make more community development investments in the NGEP's community. The NGEP and insured depository institution do not reach an agreement concerning the community development investments the institution should make in the community, and the parties do not reach any mutual arrangement or understanding. Two weeks later, the institution unilaterally issues a press release announcing that it has established a general goal of making $100 million of community development grants in low- and moderate-income neighborhoods served by the insured depository institution over the next 5 years. The NGEP is not identified in the press release. The press release is not a written arrangement or understanding. [[Page 177]] (2) Example 2. A NGEP meets with an insured depository institution and states that the institution needs to offer new loan programs in the NGEP's community. The NGEP and the insured depository institution reach a mutual arrangement or understanding that the institution will provide additional loans in the NGEP's community. The institution tells the NGEP that it will issue a press release announcing the program. Later, the insured depository institution issues a press release announcing the loan program. The press release incorporates the key terms of the understanding reached between the NGEP and the insured depository institution. The written press release reflects the mutual arrangement or understanding of the NGEP and the insured depository institution and is, therefore, a written arrangement or understanding. (3) Example 3. An NGEP sends a letter to an insured depository institution requesting that the institution provide a $15,000 grant to the NGEP. The insured depository institution responds in writing and agrees to provide the grant in connection with its annual grant program. The exchange of letters constitutes a written arrangement or understanding. (c) Loan agreements that are not covered agreements. A covered agreement does not include-- (1) Any individual loan that is secured by real estate; or (2) Any specific contract or commitment for a loan or extension of credit to an individual, business, farm, or other entity, or group of such individuals or entities, if-- (i) The funds are loaned at rates that are not substantially below market rates; and (ii) The loan application or other loan documentation does not indicate that the borrower intends or is authorized to use the borrowed funds to make a loan or extension of credit to one or more third parties. (d) Examples concerning loan agreements--(1) Example 1. An insured depository institution provides an organization with a $1 million loan that is documented in writing and is secured by real estate owned or to- be-acquired by the organization. The agreement is an individual mortgage loan and is exempt from coverage under paragraph (c)(1) of this section, regardless of the interest rate on the loan or whether the organization intends or is authorized to re-loan the funds to a third party. (2) Example 2. An insured depository institution commits to provide a $500,000 line of credit to a small business that is documented by a written agreement. The loan is made at rates that are within the range of rates offered by the institution to similarly situated small businesses in the market and the loan documentation does not indicate that the small business intends or is authorized to re-lend the borrowed funds. The agreement is exempt from coverage under paragraph (c)(2) of this section. (3) Example 3. An insured depository institution offers small business loans that are guaranteed by the Small Business Administration (SBA). A small business obtains a $75,000 loan, documented in writing, from the institution under the institution's SBA loan program. The loan documentation does not indicate that the borrower intends or is authorized to re-lend the funds. Although the rate charged on the loan is well below that charged by the institution on commercial loans, the rate is within the range of rates that the institution would charge a similarly situated small business for a similar loan under the SBA loan program. Accordingly, the loan is not made at substantially below market rates and is exempt from coverage under paragraph (c)(2) of this section. (4) Example 4. A bank holding company enters into a written agreement with a community development organization that provides that insured depository institutions owned by the bank holding company will make $250 million in small business loans in the community over the next 5 years. The written agreement is not a specific contract or commitment for a loan or an extension of credit and, thus, is not exempt from coverage under paragraph (c)(2) of this section. Each small business loan made by the insured depository institution pursuant to this general commitment would, however, be exempt from coverage if the loan is [[Page 178]] made at rates that are not substantially below market rates and the loan documentation does not indicate that the borrower intended or was authorized to re-lend the funds. (e) Agreements that include exempt loan agreements. If an agreement includes a loan, extension of credit or loan commitment that, if documented separately, would be exempt under paragraph (c) of this section, the exempt loan, extension of credit or loan commitment may be excluded for purposes of determining whether the agreement is a covered agreement. (f) Determining annual value of agreements that lack schedule of disbursements. For purposes of paragraph (a)(3) of this section, a multi-year agreement that does not include a schedule for the disbursement of payments, grants, loans or other consideration by the insured depository institution or affiliate, is considered to have a value in the first year of the agreement equal to all payments, grants, loans and other consideration to be provided at any time under the agreement. Sec. 207.3 CRA communications. (a) Definition of CRA communication. A CRA communication is any of the following-- (1) Any written or oral comment or testimony provided to a Federal banking agency concerning the adequacy of the performance under the CRA of the insured depository institution, any affiliated insured depository institution, or any CRA affiliate. (2) Any written comment submitted to the insured depository institution that discusses the adequacy of the performance under the CRA of the institution and must be included in the institution's CRA public file. (3) Any discussion or other contact with the insured depository institution or any affiliate about-- (i) Providing (or refraining from providing) written or oral comments or testimony to any Federal banking agency concerning the adequacy of the performance under the CRA of the insured depository institution, any affiliated insured depository institution, or any CRA affiliate; (ii) Providing (or refraining from providing) written comments to the insured depository institution that concern the adequacy of the institution's performance under the CRA and must be included in the institution's CRA public file; or (iii) The adequacy of the performance under the CRA of the insured depository institution, any affiliated insured depository institution, or any CRA affiliate. (b) Discussions or contacts that are not CRA communications--(1) Timing of contacts with a Federal banking agency. An oral or written communication with a Federal banking agency is not a CRA communication if it occurred more than 3 years before the parties entered into the agreement. (2) Timing of contacts with insured depository institutions and affiliates. A communication with an insured depository institution or affiliate is not a CRA communication if the communication occurred-- (i) More than 3 years before the parties entered into the agreement, in the case of any written communication; (ii) More than 3 years before the parties entered into the agreement, in the case of any oral communication in which the NGEP discusses providing (or refraining from providing) comments or testimony to a Federal banking agency or written comments that must be included in the institution's CRA public file in connection with a request to, or agreement by, the institution or affiliate to take (or refrain from taking) any action that is in fulfillment of the CRA; or (iii) More than 1 year before the parties entered into the agreement, in the case of any other oral communication not described in paragraph (b)(2)(ii) of this section. (3) Knowledge of communication by insured depository institution or affiliate. (i) A communication is only a CRA communication under paragraph (a) of this section if the insured depository institution or its affiliate has knowledge of the communication under this paragraph (b)(3)(ii) or (b)(3)(iii) of this section. (ii) Communication with insured depository institution or affiliate. An insured depository institution or affiliate has knowledge of a communication by the NGEP to the institution or its affiliate [[Page 179]] under this paragraph only if one of the following representatives of the insured depository institution or any affiliate has knowledge of the communication. (A) An employee who approves, directs, authorizes, or negotiates the agreement with the NGEP; or (B) An employee designated with responsibility for compliance with the CRA or executive officer if the employee or executive officer knows that the institution or affiliate is negotiating, intends to negotiate, or has been informed by the NGEP that it expects to request that the institution or affiliate negotiate an agreement with the NGEP. (iii) Other communications. An insured depository institution or affiliate is deemed to have knowledge of-- (A) Any testimony provided to a Federal banking agency at a public meeting or hearing; (B) Any comment submitted to a Federal banking agency that is conveyed in writing by the agency to the insured depository institution or affiliate; and (C) Any written comment submitted to the insured depository institution that must be and is included in the institution's CRA public file. (4) Communication where NGEP has knowledge. A NGEP has a CRA communication with an insured depository institution or affiliate only if any of the following individuals has knowledge of the communication-- (i) A director, employee, or member of the NGEP who approves, directs, authorizes, or negotiates the agreement with the insured depository institution or affiliate; (ii) A person who functions as an executive officer of the NGEP and who knows that the NGEP is negotiating or intends to negotiate an agreement with the insured depository institution or affiliate; or (iii) Where the NGEP is an individual, the NGEP. (c) Examples of CRA communications--(1) Examples of actions that are CRA communications. The following are examples of CRA communications. These examples are not exclusive and assume that the communication occurs within the relevant time period as described in paragraph (b)(1) or (b)(2) of this section and the appropriate representatives have knowledge of the communication as specified in paragraphs (b)(3) and (b)(4) of this section. (i) Example 1. A NGEP files a written comment with a Federal banking agency that states than an insured depository institution successfully addresses the credit needs of its community. The written comment is in response to a general request from the agency for comments on an application of the insured depository institution to open a new branch and a copy of the comment is provided to the institution. (ii) Example 2. A NGEP meets with an executive officer of an insured depository institution and states that the institution must improve its CRA performance. (iii) Example 3. A NGEP meets with an executive officer of an insured depository institution and states that the institution needs to make more mortgage loans in low- and moderate-income neighborhoods in its community. (iv) Example 4. A bank holding company files an application with a Federal banking agency to acquire an insured depository institution. Two weeks later, the NGEP meets with an executive officer of the bank holding company to discuss the adequacy of the performance under the CRA of the target insured depository institution. The insured depository institution was an affiliate of the bank holding company at the time the NGEP met with the target institution. (See Sec. 207.11(a).) Accordingly, the NGEP had a CRA communication with an affiliate of the bank holding company. (2) Examples of actions that are not CRA communications. The following are examples of actions that are not by themselves CRA communications. These examples are not exclusive. (i) Example 1. A NGEP provides to a Federal banking agency comments or testimony concerning an insured depository institution or affiliate in response to a direct request by the agency for comments or testimony from that NGEP. Direct requests for comments or testimony do not include a general invitation by a Federal banking agency for comments or testimony from the public in connection with a [[Page 180]] CRA performance evaluation of, or application for a deposit facility (as defined in section 803 of the CRA (12 U.S.C. 2902(3)) by, an insured depository institution or an application by a company to acquire an insured depository institution. (ii) Example 2. A NGEP makes a statement concerning an insured depository institution or affiliate at a widely attended conference or seminar regarding a general topic. A public or private meeting, public hearing, or other meeting regarding one or more specific institutions, affiliates or transactions involving an application for a deposit facility is not considered a widely attended conference or seminar. (iii) Example 3. A NGEP, such as a civil rights group, community group providing housing and other services in low- and moderate-income neighborhoods, veterans organization, community theater group, or youth organization, sends a fundraising letter to insured depository institutions and to other businesses in its community. The letter encourages all businesses in the community to meet their obligation to assist in making the local community a better place to live and work by supporting the fundraising efforts of the NGEP. (iv) Example 4. A NGEP discusses with an insured depository institution or affiliate whether particular loans, services, investments, community development activities, or other activities are generally eligible for consideration by a Federal banking agency under the CRA. The NGEP and insured depository institution or affiliate do not discuss the adequacy of the CRA performance of the insured depository institution or affiliate. (v) Example 5. A NGEP engaged in the sale or purchase of loans in the secondary market sends a general offering circular to financial institutions offering to sell or purchase a portfolio of loans. An insured depository institution that receives the offering circular discusses with the NGEP the types of loans included in the loan pool, whether such loans are generally eligible for consideration under the CRA, and which loans are made to borrowers in the institution's local community. The NGEP and insured depository institution do not discuss the adequacy of the institution's CRA performance. (d) Multiparty covered agreements. (1) A NGEP that is a party to a covered agreement that involves multiple NGEPs is not required to comply with the requirements of this part if-- (i) The NGEP has not had a CRA communication; and (ii) No representative of the NGEP identified in paragraph (b)(4) of this section has knowledge at the time of the agreement that another NGEP that is a party to the agreement has had a CRA communication. (2) An insured depository institution or affiliate that is a party to a covered agreement that involves multiple insured depository institutions or affiliates is not required to comply with the disclosure and annual reporting requirements in Sec. Sec. 207.6 and 207.7 if-- (i) No NGEP that is a party to the agreement has had a CRA communication concerning the insured depository institution or any affiliate; and (ii) No representative of the insured depository institution or any affiliate identified in paragraph (b)(3) of this section has knowledge at the time of the agreement that an NGEP that is a party to the agreement has had a CRA communication concerning any other insured depository institution or affiliate that is a party to the agreement. Sec. 207.4 Fulfillment of the CRA. (a) List of factors that are in fulfillment of the CRA. Fulfillment of the CRA, for purposes of this part, means the following list of factors-- (1) Comments to a Federal banking agency or included in CRA public file. Providing or refraining from providing written or oral comments or testimony to any Federal banking agency concerning the performance under the CRA of an insured depository institution or CRA affiliate that is a party to the agreement or an affiliate of a party to the agreement or written comments that are required to be included in the CRA public file of any such insured depository institution; or (2) Activities given favorable CRA consideration. Performing any of the following activities if the activity is of [[Page 181]] the type that is likely to receive favorable consideration by a Federal banking agency in evaluating the performance under the CRA of the insured depository institution that is a party to the agreement or an affiliate of a party to the agreement-- (i) Home-purchase, home-improvement, small business, small farm, community development, and consumer lending, as described in Sec. 228.22 of Regulation BB (12 CFR 228.22), including loan purchases, loan commitments, and letters of credit; (ii) Making investments, deposits, or grants, or acquiring membership shares, that have as their primary purpose community development, as described in Sec. 228.23 of Regulation BB (12 CFR 228.23); (iii) Delivering retail banking services, as described in Sec. 228.24(d) of Regulation BB (12 CFR 228.24(d)); (iv) Providing community development services, as described in Sec. 228.24(e) of Regulation BB (12 CFR 228.24(e)); (v) In the case of a wholesale or limited-purpose insured depository institution, community development lending, including originating and purchasing loans and making loan commitments and letters of credit, making qualified investments, or providing community development services, as described in Sec. 228.25(c) of Regulation BB (12 CFR 228.25(c)); (vi) In the case of a small insured depository institution, any lending or other activity described in Sec. 228.26(a) of Regulation BB (12 CFR 228.26(a)); or (vii) In the case of an insured depository institution that is evaluated on the basis of a strategic plan, any element of the strategic plan, as described in Sec. 228.27(f) of Regulation BB (12 CFR 228.27(f)). (b) Agreements relating to activities of CRA affiliates. An insured depository institution or affiliate that is a party to a covered agreement that concerns any activity described in paragraph (a) of this section of a CRA affiliate must, prior to the time the agreement is entered into, notify each NGEP that is a party to the agreement that the agreement concerns a CRA affiliate. Sec. 207.5 Related agreements considered a single agreement. The following rules must be applied in determining whether an agreement is a covered agreement under Sec. 207.2. (a) Agreements entered into by same parties. All written agreements to which an insured depository institution or an affiliate of the insured depository institution is a party shall be considered to be a single agreement if the agreements-- (1) Are entered into with the same NGEP; (2) Were entered into within the same 12-month period; and (3) Are each in fulfillment of the CRA. (b) Substantively related contracts. All written contracts to which an insured depository institution or an affiliate of the insured depository institution is a party shall be considered to be a single agreement, without regard to whether the other parties to the contracts are the same or whether each such contract is in fulfillment of the CRA, if the contracts were negotiated in a coordinated fashion and a NGEP is a party to each contract. Sec. 207.6 Disclosure of covered agreements. (a) Applicability date. This section applies only to covered agreements entered into after November 12, 1999. (b) Disclosure of covered agreements to the public--(1) Disclosure required. Each NGEP and each insured depository institution or affiliate that enters into a covered agreement must promptly make a copy of the covered agreement available to any individual or entity upon request. (2) Nondisclosure of confidential and proprietary information permitted. In responding to a request for a covered agreement from any individual or entity under paragraph (b)(1) of this section, a NGEP, insured depository institution, or affiliate may withhold from public disclosure confidential or proprietary information that the party believes the relevant supervisory agency could withhold from disclosure under the Freedom of Information Act (5 U.S.C. 552 et seq.) (FOIA). (3) Information that must be disclosed. Notwithstanding paragraph (b)(2) of [[Page 182]] this section, a party must disclose any of the following information that is contained in a covered agreement-- (i) The names and addresses of the parties to the agreement; (ii) The amount of any payments, fees, loans, or other consideration to be made or provided by any party to the agreement; (iii) Any description of how the funds or other resources provided under the agreement are to be used; (iv) The term of the agreement (if the agreement establishes a term); and (v) Any other information that the relevant supervisory agency determines is not properly exempt from public disclosure. (4) Request for review of withheld information. Any individual or entity may request that the relevant supervisory agency review whether any information in a covered agreement withheld by a party must be disclosed. Any requests for agency review of withheld information must be filed, and will be processed in accordance with, the relevant supervisory agency's rules concerning the availability of information (see Sec. 261.12 of the Board's Rules Regarding the Availability of Information (12 CFR 261.12)). (5) Duration of obligation. The obligation to disclose a covered agreement to the public terminates 12 months after the end of the term of the agreement. (6) Reasonable copy and mailing fees. Each NGEP and each insured depository institution or affiliate may charge an individual or entity that requests a copy of a covered agreement a reasonable fee not to exceed the cost of copying and mailing the agreement. (7) Use of CRA public file by insured depository institution or affiliate. An insured depository institution and any affiliate of an insured depository institution may fulfill its obligation under this paragraph (b) by placing a copy of the covered agreement in the insured depository institution's CRA public file if the institution makes the agreement available in accordance with the procedures set forth in Sec. 228.43 of Regulation BB (12 CFR 228.43). (c) Disclosure by NGEPs of covered agreements to the relevant supervisory agency. (1) Each NGEP that is a party to a covered agreement must provide the following within 30 days of receiving a request from the relevant supervisory agency-- (i) A complete copy of the agreement; and (ii) In the event the NGEP proposes the withholding of any information contained in the agreement in accordance with paragraph (b)(2) of this section, a public version of the agreement that excludes such information and an explanation justifying the exclusions. Any public version must include the information described in paragraph (b)(3) of this section. (2) The obligation of a NGEP to provide a covered agreement to the relevant supervisory agency terminates 12 months after the end of the term of the covered agreement. (d) Disclosure by insured depository institution or affiliate of covered agreements to the relevant supervisory agency--(1) In general. Within 60 days of the end of each calendar quarter, each insured depository institution and affiliate must provide each relevant supervisory agency with-- (i)(A) A complete copy of each covered agreement entered into by the insured depository institution or affiliate during the calendar quarter; and (B) In the event the institution or affiliate proposes the withholding of any information contained in the agreement in accordance with paragraph (b)(2) of this section, a public version of the agreement that excludes such information (other than any information described in paragraph (b)(3) of this section) and an explanation justifying the exclusions; or (ii) A list of all covered agreements entered into by the insured depository institution or affiliate during the calendar quarter that contains-- (A) The name and address of each insured depository institution or affiliate that is a party to the agreement; (B) The name and address of each NGEP that is a party to the agreement; (C) The date the agreement was entered into; (D) The estimated total value of all payments, fees, loans and other consideration to be provided by the institution or any affiliate of the institution under the agreement; and [[Page 183]] (E) The date the agreement terminates. (2) Prompt filing of covered agreements contained in list required. (i) If an insured depository institution or affiliate files a list of the covered agreements entered into by the institution or affiliate pursuant to paragraph (d)(1)(ii) of this section, the institution or affiliate must provide any relevant supervisory agency a complete copy and public version of any covered agreement referenced in the list within 7 calendar days of receiving a request from the agency for a copy of the agreement. (ii) The obligation of an insured depository institution or affiliate to provide a covered agreement to the relevant supervisory agency under this paragraph (d)(2) terminates 36 months after the end of the term of the agreement. (3) Joint filings. In the event that 2 or more insured depository institutions or affiliates are parties to a covered agreement, the insured depository institution(s) and affiliate(s) may jointly file the documents required by this paragraph (d). Any joint filing must identify the insured depository institution(s) and affiliate(s) for whom the filings are being made. Sec. 207.7 Annual reports. (a) Applicability date. This section applies only to covered agreements entered into on or after May 12, 2000. (b) Annual report required. Each NGEP and each insured depository institution or affiliate that is a party to a covered agreement must file an annual report with each relevant supervisory agency concerning the disbursement, receipt, and uses of funds or other resources under the covered agreement. (c) Duration of reporting requirement--(1) NGEPs. A NGEP must file an annual report for a covered agreement for any fiscal year in which the NGEP receives or uses funds or other resources under the agreement. (2) Insured depository institutions and affiliates. An insured depository institution or affiliate must file an annual report for a covered agreement for any fiscal year in which the institution or affiliate-- (i) provides or receives any payments, fees, or loans under the covered agreement that must be reported under paragraphs (e)(1)(iii) and (iv) of this section; or (ii) has data to report on loans, investments, and services provided by a party to the covered agreement under the covered agreement under paragraph (e)(1)(vi) of this section. (d) Annual reports filed by NGEP--(1) Contents of report. The annual report filed by a NGEP under this section must include the following-- (i) The name and mailing address of the NGEP filing the report; (ii) Information sufficient to identify the covered agreement for which the annual report is being filed, such as by providing the names of the parties to the agreement and the date the agreement was entered into or by providing a copy of the agreement; (iii) The amount of funds or resources received under the covered agreement during the fiscal year; and (iv) A detailed, itemized list of how any funds or resources received by the NGEP under the covered agreement were used during the fiscal year, including the total amount used for-- (A) Compensation of officers, directors, and employees; (B) Administrative expenses; (C) Travel expenses; (D) Entertainment expenses; (E) Payment of consulting and professional fees; and (F) Other expenses and uses (specify expense or use). (2) More detailed reporting of uses of funds or resources permitted--(i) In general. If a NGEP allocated and used funds received under a covered agreement for a specific purpose, the NGEP may fulfill the requirements of paragraph (d)(1)(iv) of this section with respect to such funds by providing-- (A) A brief description of each specific purpose for which the funds or other resources were used; and (B) The amount of funds or resources used during the fiscal year for each specific purpose. (ii) Specific purpose defined. A NGEP allocates and uses funds for a specific purpose if the NGEP receives and uses the funds for a purpose that is more [[Page 184]] specific and limited than the categories listed in paragraph (d)(1)(iv) of this section. (3) Use of other reports. The annual report filed by a NGEP may consist of or incorporate a report prepared for any other purpose, such as the Internal Revenue Service Return of Organization Exempt From Income Tax on Form 990, or any other Internal Revenue Service form, state tax form, report to members or shareholders, audited or unaudited financial statements, audit report, or other report, so long as the annual report filed by the NGEP contains all of the information required by this paragraph (d). (4) Consolidated reports permitted. A NGEP that is a party to 2 or more covered agreements may file with each relevant supervisory agency a single consolidated annual report covering all the covered agreements. Any consolidated report must contain all the information required by this paragraph (d). The information reported under paragraphs (d)(1)(iv) and (d)(2) of this section may be reported on an aggregate basis for all covered agreements. (5) Examples of annual report requirements for NGEPs--(i) Example 1. A NGEP receives an unrestricted grant of $15,000 under a covered agreement, includes the funds in its general operating budget and uses the funds during its fiscal year. The NGEP's annual report for the fiscal year must provide the name and mailing address of the NGEP, information sufficient to identify the covered agreement, and state that the NGEP received $15,000 during the fiscal year. The report must also indicate the total expenditures made by the NGEP during the fiscal year for compensation, administrative expenses, travel expenses, entertainment expenses, consulting and professional fees, and other expenses and uses. The NGEP's annual report may provide this information by submitting an Internal Revenue Service Form 990 that includes the required information. If the Internal Revenue Service Form does not include information for all of the required categories listed in this part, the NGEP must report the total expenditures in the remaining categories either by providing that information directly or by providing another form or report that includes the required information. (ii) Example 2. An organization receives $15,000 from an insured depository institution under a covered agreement and allocates and uses the $15,000 during the fiscal year to purchase computer equipment to support its functions. The organization's annual report must include the name and address of the organization, information sufficient to identify the agreement, and a statement that the organization received $15,000 during the year. In addition, since the organization allocated and used the funds for a specific purpose that is more narrow and limited than the categories of expenses included in the detailed, itemized list of expenses, the organization would have the option of providing either the total amount it used during the year for each category of expenses included in paragraph (d)(1)(iv) of this section, or a statement that it used the $15,000 to purchase computer equipment and a brief description of the equipment purchased. (iii) Example 3. A community group receives $50,000 from an insured depository institution under a covered agreement. During its fiscal year, the community group specifically allocates and uses $5,000 of the funds to pay for a particular business trip and uses the remaining $45,000 for general operating expenses. The group's annual report for the fiscal year must include the name and address of the group, information sufficient to identify the agreement, and a statement that the group received $50,000. Because the group did not allocate and use all of the funds for a specific purpose, the group's annual report must provide the total amount of funds it used during the year for each category of expenses included in paragraph (d)(1)(iv) of this section. The group's annual report also could state that it used $5,000 for a particular business trip and include a brief description of the trip. (iv) Example 4. A community development organization is a party to two separate covered agreements with two unaffiliated insured depository institutions. Under each agreement, the organization receives $15,000 during its fiscal year and uses the funds to support [[Page 185]] its activities during that year. If the organization elects to file a consolidated annual report, the consolidated report must identify the organization and the two covered agreements, state that the organization received $15,000 during the fiscal year under each agreement, and provide the total amount that the organization used during the year for each category of expenses included in paragraph (d)(1)(iv) of this section. (e) Annual report filed by insured depository institution or affiliate--(1) General. The annual report filed by an insured depository institution or affiliate must include the following-- (i) The name and principal place of business of the insured depository institution or affiliate filing the report; (ii) Information sufficient to identify the covered agreement for which the annual report is being filed, such as by providing the names of the parties to the agreement and the date the agreement was entered into or by providing a copy of the agreement; (iii) The aggregate amount of payments, aggregate amount of fees, and aggregate amount of loans provided by the insured depository institution or affiliate under the covered agreement to any other party to the agreement during the fiscal year; (iv) The aggregate amount of payments, aggregate amount of fees, and aggregate amount of loans received by the insured depository institution or affiliate under the covered agreement from any other party to the agreement during the fiscal year; (v) A general description of the terms and conditions of any payments, fees, or loans reported under paragraphs (e)(1)(iii) and (iv) of this section, or, in the event such terms and conditions are set forth-- (A) In the covered agreement, a statement identifying the covered agreement and the date the agreement (or a list identifying the agreement) was filed with the relevant supervisory agency; or (B) In a previous annual report filed by the insured depository institution or affiliate, a statement identifying the date the report was filed with the relevant supervisory agency; and (vi) The aggregate amount and number of loans, aggregate amount and number of investments, and aggregate amount of services provided under the covered agreement to any individual or entity not a party to the agreement-- (A) By the insured depository institution or affiliate during its fiscal year; and (B) By any other party to the agreement, unless such information is not known to the insured depository institution or affiliate filing the report or such information is or will be contained in the annual report filed by another party under this section. (2) Consolidated reports permitted--(i) Party to multiple agreements. An insured depository institution or affiliate that is a party to 2 or more covered agreements may file a single consolidated annual report with each relevant supervisory agency concerning all the covered agreements. (ii) Affiliated entities party to the same agreement. An insured depository institution and its affiliates that are parties to the same covered agreement may file a single consolidated annual report relating to the agreement with each relevant supervisory agency for the covered agreement. (iii) Content of report. Any consolidated annual report must contain all the information required by this paragraph (e). The amounts and data required to be reported under paragraphs (e)(1)(iv) and (vi) of this section may be reported on an aggregate basis for all covered agreements. (f) Time and place of filing--(1) General. Each party must file its annual report with each relevant supervisory agency for the covered agreement no later than six months following the end of the fiscal year covered by the report. (2) Alternative method of fulfilling annual reporting requirement for a NGEP. (i) A NGEP may fulfill the filing requirements of this section by providing the following materials to an insured depository institution or affiliate that is a party to the agreement no later than six months following the end of the NGEP's fiscal year-- (A) A copy of the NGEP's annual report required under paragraph (d) of this section for the fiscal year; and [[Page 186]] (B) Written instructions that the insured depository institution or affiliate promptly forward the annual report to the relevant supervisory agency or agencies on behalf of the NGEP. (ii) An insured depository institution or affiliate that receives an annual report from a NGEP pursuant to paragraph (f)(2)(i) of this section must file the report with the relevant supervisory agency or agencies on behalf of the NGEP within 30 days. Sec. 207.8 Release of information under FOIA. The Board will make covered agreements and annual reports available to the public in accordance with the Freedom of Information Act (5 U.S.C. 552 et seq.) and the Board's Rules Regarding the Availability of Information (12 CFR part 261). A party to a covered agreement may request confidential treatment of proprietary and confidential information in a covered agreement or an annual report under those procedures. Sec. 207.9 Compliance provisions. (a) Willful failure to comply with disclosure and reporting obligations. (1) If the Board determines that a NGEP has willfully failed to comply in a material way with Sec. Sec. 207.6 or 207.7, the Board will notify the NGEP in writing of that determination and provide the NGEP a period of 90 days (or such longer period as the Board finds to be reasonable under the circumstances) to comply. (2) If the NGEP does not comply within the time period established by the Board, the agreement shall thereafter be unenforceable by that NGEP by operation of section 48 of the Federal Deposit Insurance Act (12 U.S.C. 1831y). (3) The Board may assist any insured depository institution or affiliate that is a party to a covered agreement that is unenforceable by a NGEP by operation of section 48 of the Federal Deposit Insurance Act (12 U.S.C. 1831y) in identifying a successor to assume the NGEP's responsibilities under the agreement. (b) Diversion of funds. If a court or other body of competent jurisdiction determines that funds or resources received under a covered agreement have been diverted contrary to the purposes of the covered agreement for an individual's personal financial gain, the Board may take either or both of the following actions-- (1) Order the individual to disgorge the diverted funds or resources received under the agreement; (2) Prohibit the individual from being a party to any covered agreement for a period not to exceed 10 years. (c) Notice and opportunity to respond. Before making a determination under paragraph (a)(1) of this section, or taking any action under paragraph (b) of this section, the Board will provide written notice and an opportunity to present information to the Board concerning any relevant facts or circumstances relating to the matter. (d) Inadvertent or de minimis errors. Inadvertent or de minimis errors in annual reports or other documents filed with the Board under Sec. 207.6 or Sec. 207.7 will not subject the reporting party to any penalty. (e) Enforcement of provisions in covered agreements. No provision of this part shall be construed as authorizing the Board to enforce the provisions of any covered agreement. Sec. 207.10 Transition provisions. (a) Disclosure of covered agreements entered into before the effective date of this part. The following disclosure requirements apply to covered agreements that were entered into after November 12, 1999, and that terminated before April 1, 2001. (1) Disclosure to the public. Each NGEP and each insured depository institution or affiliate that was a party to the agreement must make the agreement available to the public under Sec. 207.6 until at least April 1, 2002. (2) Disclosure to the relevant supervisory agency. (i) Each NGEP that was a party to the agreement must make the agreement available to the relevant supervisory agency under Sec. 207.6 until at least April 1, 2002. (ii) Each insured depository institution or affiliate that was a party to the agreement must, by June 30, 2001, provide each relevant supervisory agency either-- (A) A copy of the agreement under Sec. 207.6(d)(1)(i); or [[Page 187]] (B) The information described in Sec. 207.6(d)(1)(ii) for each agreement. (b) Filing of annual reports that relate to fiscal years ending on or before December 31, 2000. In the event that a NGEP, insured depository institution or affiliate has any information to report under Sec. 207.7 for a fiscal year that ends on or before December 31, 2000, and that concerns a covered agreement entered into between May 12, 2000, and December 31, 2000, the annual report for that fiscal year must be provided no later than June 30, 2001, to-- (1) Each relevant supervisory agency; or (2) In the case of a NGEP, to an insured depository institution or affiliate that is a party to the agreement in accordance with Sec. 207.7(f)(2). Sec. 207.11 Other definitions and rules of construction used in this part. (a) Affiliate. ``Affiliate'' means-- (1) Any company that controls, is controlled by, or is under common control with another company; and (2) For the purpose of determining whether an agreement is a covered agreement under Sec. 207.2, an ``affiliate'' includes any company that would be under common control or merged with another company on consummation of any transaction pending before a Federal banking agency at the time-- (i) The parties enter into the agreement; and (ii) The NGEP that is a party to the agreement makes a CRA communication, as described in Sec. 207.3. (b) Control. ``Control'' is defined in section 2(a) of the Bank Holding Company Act (12 U.S.C. 1841(a)). (c) CRA affiliate. A ``CRA affiliate'' of an insured depository institution is any company that is an affiliate of an insured depository institution to the extent, and only to the extent, that the activities of the affiliate were considered by the appropriate Federal banking agency when evaluating the CRA performance of the institution at its most recent CRA examination prior to the agreement. An insured depository institution or affiliate also may designate any company as a CRA affiliate at any time prior to the time a covered agreement is entered into by informing the NGEP that is a party to the agreement of such designation. (d) CRA public file. ``CRA public file'' means the public file maintained by an insured depository institution and described in Sec. 228.43 of Regulation BB (12 CFR 228.43). (e) Executive officer. The term ``executive officer'' has the same meaning as in Sec. 215.2(e)(1) of the Board's Regulation O (12 CFR 215.2(e)(1)). (f) Federal banking agency; appropriate Federal banking agency. The terms ``Federal banking agency'' and ``appropriate Federal banking agency'' have the same meanings as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (g) Fiscal year. (1) The fiscal year for a NGEP that does not have a fiscal year shall be the calendar year. (2) Any NGEP, insured depository institution, or affiliate that has a fiscal year may elect to have the calendar year be its fiscal year for purposes of this part. (h) Insured depository institution. ``Insured depository institution'' has the same meaning as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) NGEP. ``NGEP'' means a nongovernmental entity or person. (j) Nongovernmental entity or person--(1) General. A ``nongovernmental entity or person'' is any partnership, association, trust, joint venture, joint stock company, corporation, limited liability corporation, company, firm, society, other organization, or individual. (2) Exclusions. A nongovernmental entity or person does not include-- (i) The United States government, a state government, a unit of local government (including a county, city, town, township, parish, village, or other general-purpose subdivision of a state) or an Indian tribe or tribal organization established under Federal, state or Indian tribal law (including the Department of Hawaiian Home Lands), or a department, agency, or instrumentality of any such entity; (ii) A federally-chartered public corporation that receives Federal funds appropriated specifically for that corporation; [[Page 188]] (iii) An insured depository institution or affiliate of an insured depository institution; or (iv) An officer, director, employee, or representative (acting in his or her capacity as an officer, director, employee, or representative) of an entity listed in paragraphs (i)(2)(i) through (iii) of this section. (k) Party. The term ``party'' with respect to a covered agreement means each NGEP and each insured depository institution or affiliate that entered into the agreement. (l) Relevant supervisory agency. The ``relevant supervisory agency'' for a covered agreement means the appropriate Federal banking agency for-- (1) Each insured depository institution (or subsidiary thereof) that is a party to the covered agreement; (2) Each insured depository institution (or subsidiary thereof) or CRA affiliate that makes payments or loans or provides services that are subject to the covered agreement; and (3) Any company (other than an insured depository institution or subsidiary thereof) that is a party to the covered agreement. (m) Term of agreement. An agreement that does not have a fixed termination date is considered to terminate on the last date on which any party to the agreement makes any payment or provides any loan or other resources under the agreement, unless the relevant supervisory agency for the agreement otherwise notifies each party in writing. PART 208_MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM (REGULATION H)--Table of Contents Subpart A_General Membership and Branching Requirements Sec. 208.1 Authority, purpose, and scope. 208.2 Definitions. 208.3 Application and conditions for membership in the Federal Reserve System. 208.4 Capital adequacy. 208.5 Dividends and other distributions. 208.6 Establishment and maintenance of branches. 208.7 Prohibition against use of interstate branches primarily for deposit production. Subpart B_Investments and Loans 208.20 Authority, purpose, and scope. 208.21 Investments in premises and securities. 208.22 Community development and public welfare investments. 208.23 Agricultural loan loss amortization. 208.24 Letters of credit and acceptances. 208.25 Loans in areas having special flood hazards. Subpart C_Bank Securities and Securities-Related Activities 208.30 Authority, purpose, and scope. 208.31 State member banks as transfer agents. 208.32 Notice of disciplinary sanctions imposed by registered clearing agency. 208.33 Application for stay or review of disciplinary sanctions imposed by registered clearing agency. 208.34 Recordkeeping and confirmation of certain securities transactions effected by State member banks. 208.35 Qualification requirements for transactions in certain securities. [Reserved] 208.36 Reporting requirements for State member banks subject to the Securities Exchange Act of 1934. 208.37 Government securities sales practices. Subpart D_Prompt Corrective Action 208.40 Authority, purpose, scope, other supervisory authority, and disclosure of capital categories. 208.41 Definitions for purposes of this subpart. 208.42 Notice of capital category. 208.43 Capital measures and capital category definitions. 208.44 Capital restoration plans. 208.45 Mandatory and discretionary supervisory actions under section 38. Subpart E_Real Estate Lending, Appraisal Standards, and Minimum Requirements for Appraisal Management Companies 208.50 Authority, purpose, and scope. 208.51 Real estate lending standards. Subpart F_Miscellaneous Requirements 208.60 Authority, purpose, and scope. 208.61 Bank security procedures. 208.62 Suspicious activity reports. 208.63 Procedures for monitoring Bank Secrecy Act compliance. 208.64 Frequency of examination. [[Page 189]] Subpart G_Financial Subsidiaries of State Member Banks 208.71 What are the requirements to invest in or control a financial subsidiary? 208.72 What activities may a financial subsidiary conduct? 208.73 What additional provisions are applicable to state member banks with financial subsidiaries? 208.74 What happens if the state member bank or a depository institution affiliate fails to continue to meet certain requirements? 208.75 What happens if the state member bank or any of its insured depository institution affiliates receives less than a ``satisfactory'' CRA rating? 208.76 What Federal Reserve approvals are necessary for financial subsidiaries? 208.77 Definitions. Subpart H_Consumer Protection in Sales of Insurance 208.81 Purpose and scope. 208.82 Definitions for purposes of this subpart. 208.83 Prohibited practices. 208.84 What you must disclose. 208.85 Where insurance activities may take place. 208.86 Qualification and licensing requirements for insurance sales personnel. Appendix A to Subpart H of Part 208--Consumer Grievance Process Subpart I [Reserved] Subpart J_Interpretations 208.110 Sale of bank's money orders off premises as establishment of branch office. 208.111 Obligations concerning institutional customers. Subpart K_Forms, Instructions and Reports 208.120 Authority, purpose, and scope. 208.121 Definitions. 208.122 Reporting. 208.123 Reduced reporting. 208.124 Reservation of authority. Appendixes A-B to Part 208 [Reserved] Appendix C to Part 208--Interagency Guidelines for Real Estate Lending Policies Appendix D-1 to Part 208--Interagency Guidelines Establishing Standards for Safety and Soundness Appendix D-2 to Part 208--Interagency Guidelines Establishing Information Security Standards Appendixes E-F to Part 208 [Reserved] Authority: 12 U.S.C. 24, 36, 92a, 93a, 248(a), 248(c), 321-338a, 371d, 461, 481-486, 601, 611, 1814, 1816, 1817(a)(3), 1817(a)(12), 1818, 1820(d)(9), 1833(j), 1828(o), 1831, 1831o, 1831p-1, 1831r-1, 1831w, 1831x, 1835a, 1882, 2901-2907, 3105, 3310, 3331-3351, 3905-3909, 5371, and 5371 note; 15 U.S.C. 78b, 78I(b), 78l(i), 780-4(c)(5), 78q, 78q-1, 78w, 1681s, 1681w, 6801, and 6805; 31 U.S.C. 5318; 42 U.S.C. 4012a, 4104a, 4104b, 4106, and 4128. Source: Reg. H, 17 FR 8006, Sept. 4, 1952, unless otherwise noted. Subpart A_General Membership and Branching Requirements Source: 63 FR 37637, July 13, 1998, unless otherwise noted. Sec. 208.1 Authority, purpose, and scope. (a) Authority. Subpart A of Regulation H (12 CFR part 208, Subpart A) is issued by the Board of Governors of the Federal Reserve System (Board) under 12 U.S.C. 24, 36; sections 9, 11, 21, 25 and 25A of the Federal Reserve Act (12 U.S.C. 321-338a, 248(a), 248(c), 481-486, 601 and 611); sections 1814, 1816, 1818, 1831o, 1831p-1, 1831r-1 and 1835a of the Federal Deposit Insurance Act (FDI Act) (12 U.S.C. 1814, 1816, 1818, 1831o, 1831p-1, 1831r-1, and 1835); and 12 U.S.C. 3906-3909. (b) Purpose and scope of Part 208. The requirements of this part 208 govern State member banks and state banks applying for admission to membership in the Federal Reserve System (System) under section 9 of the Federal Reserve Act (Act), except for Sec. 208.7, which also applies to certain foreign banks licensed by a State. This part 208 does not govern banks eligible for membership under section 2 or 19 of the Act. \1\ Any bank desiring to be admitted to [[Page 190]] the System under the provisions of section 2 or 19 should communicate with the Federal Reserve Bank with which it would like to become a member. --------------------------------------------------------------------------- \1\ Under section 2 of the Federal Reserve Act, every national bank in any state shall, upon commencing business, or within 90 days after admission into the Union of the State in which it is located, become a member of the System. Under section 19 of the Federal Reserve Act, national banks and banks organized under local laws, located in a dependency or insular possession or any part of the United States outside of the States of the United States and the District of Columbia, are not required to become members of the System but may, with the consent of the board, become members of the System. --------------------------------------------------------------------------- (c) Purpose and scope of Subpart A. This Subpart A describes the eligibility requirements for membership of state-chartered banking institutions in the System, the general conditions imposed upon members, including capital and dividend requirements, as well as the requirements for establishing and maintaining branches. Sec. 208.2 Definitions. For the purposes of this part: (a) Board of Directors means the governing board of any institution performing the usual functions of a board of directors. (b) Board means the Board of Governors of the Federal Reserve System. (c) Branch. (1) Branch means any branch bank, branch office, branch agency, additional office, or any branch place of business that receives deposits, pays checks, or lends money. A branch may include a temporary, seasonal, or mobile facility that meets these criteria. (2) Branch does not include: (i) A loan origination facility where the proceeds of loans are not disbursed; (ii) An office of an affiliated or unaffiliated institution that provides services to customers of the member bank on behalf of the member bank so long as the institution is not established or operated by the bank; (iii) An automated teller machine; (iv) A remote service unit; (v) A facility to which the bank does not permit members of the public to have physical access for purposes of making deposits, paying checks, or borrowing money (such as an office established by the bank that receives deposits only through the mail); or (vi) A facility that is located at the site of, or is an extension of, an approved main office or branch. The Board determines whether a facility is an extension of an existing main or branch office on a case- by-case basis. (d) Capital stock and surplus means, unless otherwise provided in this part, or by statute: (1) Tier 1 and tier 2 capital included in a member bank's risk-based capital (as defined in Sec. 217.2 of Regulation Q); and (2) The balance of a member bank's allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, not included in its tier 2 capital for calculation of risk-based capital, based on the bank's most recent Report of Condition and Income filed under 12 U.S.C. 324. (3) For a qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), capital stock and surplus means the bank's Tier 1 capital (as defined in Sec. 217.2 of this chapter and calculated in accordance with Sec. 217.12(b) of this chapter) plus allowance for loan and lease losses or adjusted allowance for credit losses, as applicable. (e) Eligible bank means a member bank that: (1) Is well capitalized as defined in subpart D of this part; (2) Has a composite Uniform Financial Institutions Rating System (CAMELS) rating of 1 or 2; (3) Has a Community Reinvestment Act (CRA) (12 U.S.C. 2906) rating of ``Outstanding'' or ``Satisfactory;'' (4) Has a compliance rating of 1 or 2; and (5) Has no major unresolved supervisory issues outstanding (as determined by the Board or appropriate Federal Reserve Bank in its discretion). (f) State bank means any bank incorporated by special law of any State, or organized under the general laws of any State, or of the United States, including a Morris Plan bank, or other incorporated banking institution engaged in a similar business. (g) State member bank or member bank means a state bank that is a member of the Federal Reserve System. [63 FR 37637, July 13, 1998, as amended by Reg. H, 78 FR 62281, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015; 84 FR 4240, Feb. 14, 2019; 84 FR 61796, Nov. 13, 2019] Sec. 208.3 Application and conditions for membership in the Federal Reserve System. (a) Applications for membership and stock. (1) State banks applying for membership in the Federal Reserve [[Page 191]] System shall file with the appropriate Federal Reserve Bank an application for membership in the Federal Reserve System and for stock in the Reserve Bank, \2\ in accordance with this part and Sec. 262.3 of the Rules of Procedure, located at 12 CFR 262.3. --------------------------------------------------------------------------- \2\ A mutual savings bank not authorized to purchase Federal Reserve Bank stock may apply for membership evidenced initially by a deposit, but if the laws under which the bank is organized are not amended at the first session of the legislature after its admission to authorize the purchase, or if the bank fails to purchase the stock within six months of the amendment, its membership shall be terminated. --------------------------------------------------------------------------- (2) Board approval. If an applying bank conforms to all the requirements of the Federal Reserve Act and this section, and is otherwise qualified for membership, the Board may approve its application subject to such conditions as the Board may prescribe. (3) Effective date of membership. A State bank becomes a member of the Federal Reserve System on the date its Federal Reserve Bank stock is credited to its account (or its deposit is accepted, if it is a mutual savings bank not authorized to purchase Reserve Bank stock) in accordance with the Board's Regulation I (12 CFR part 209). (b) Factors considered in approving applications for membership. Factors given special consideration by the Board in passing upon an application are: (1) Financial condition and management. The financial history and condition of the applying bank and the general character of its management. (2) Capital. The adequacy of the bank's capital in accordance with Sec. 208.4, and its future earnings prospects. (3) Convenience and needs. The convenience and needs of the community. (4) Corporate powers. Whether the bank's corporate powers are consistent with the purposes of the Federal Reserve Act. (c) Expedited approval for eligible banks and bank holding companies--(1) Availability of expedited treatment. The expedited membership procedures described in paragraph (c)(2) of this section are available to: (i) An eligible bank; and (ii) A bank that cannot be determined to be an eligible bank because it has not received CAMELS compliance or CRA ratings from a bank regulatory authority, if it is controlled by a bank holding company that meets the criteria for expedited processing under Sec. 225.14(c) of Regulation Y (12 CFR 225.14(c)). (2) Expedited procedures. A completed membership application filed with the appropriate Reserve Bank will be deemed approved on the fifteenth day after receipt of the complete application by the Board or appropriate Reserve Bank, unless the Board or the appropriate Reserve Bank notifies the bank that the application is approved prior to that date or the Board or the appropriate Federal Reserve Bank notifies the bank that the application is not eligible for expedited review for any reason, including, without limitation, that: (i) The bank will offer banking services that are materially different from those currently offered by the bank, or by the affiliates of the proposed bank; (ii) The bank or bank holding company does not meet the criteria under Sec. 208.3(c)(1); (iii) The application contains a material error or is otherwise deficient; or (iv) The application raises significant supervisory, compliance, policy or legal issues that have not been resolved, or a timely substantive adverse comment is submitted. A comment will be considered substantive unless it involves individual complaints, or raises frivolous, previously considered, or wholly unsubstantiated claims or irrelevant issues. (d) Conditions of membership--(1) Safety and soundness. Each member bank shall at all times conduct its business and exercise its powers with due regard to safety and soundness. Each member bank shall comply with the Interagency Guidelines Establishing Standards for Safety and Soundness prescribed pursuant to section 39 of the FDI Act (12 U.S.C. 1831p-1), set forth in appendix D-1 to this part, and the Interagency Guidelines Establishing Information Security Standards prescribed pursuant to sections 501 and 505 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801 and 6805) and section 216 of [[Page 192]] the Fair and Accurate Credit Transactions Act of 2003 (15 U.S.C. 1681w), set forth in appendix D-2 to this part. (2) General character of bank's business. A member bank may not, without the permission of the Board, cause or permit any change in the general character of its business or in the scope of the corporate powers it exercises at the time of admission to membership. (3) Compliance with conditions of membership. Each member bank shall comply at all times with this Regulation H (12 CFR part 208) and any other conditions of membership prescribed by the Board. (e) Waivers--(1) Conditions of membership. A member bank may petition the Board to waive a condition of membership. The Board may grant a waiver of a condition of membership upon a showing of good cause and, in its discretion, may limit, among other items, the scope, duration, and timing of the waiver. (2) Reports of affiliates. Pursuant to section 21 of the Federal Reserve Act (12 U.S.C. 486), the Board waives the requirement for the submission of reports of affiliates of member banks, unless such reports are specifically requested by the Board. (f) Voluntary withdrawal from membership. Voluntary withdrawal from membership becomes effective upon cancellation of the Federal Reserve Bank stock held by the member bank, and after the bank has made due provision to pay any indebtedness due or to become due to the Federal Reserve Bank in accordance with the Board's Regulation I (12 CFR part 209). [Reg. H, 63 FR 37637, July 13, 1998, as amended at 63 FR 58620, Nov. 2, 1998; 66 FR 8634, Feb. 1, 2001; 69 FR 77617, Dec. 28, 2004; 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.4 Capital adequacy. (a) Adequacy. A member bank's capital, calculated in accordance with part 217, shall be at all times adequate in relation to the character and condition liabilities and other corporate responsibilities. If at any time, in light of all the circumstances, the bank's capital appears inadequate in relation to its assets, liabilities, and responsibilities, the bank shall increase the amount of its capital, within such period as the Board deems reasonable, to an amount which, in the judgment of the Board, shall be adequate. (b) Standards for evaluating capital adequacy. Standards and measures, by which the Board evaluates the capital adequacy of member banks for risk-based capital purposes and for leverage measurement purposes, are located in part 217 of this chapter. [Regulation H, 78 FR 62282, Oct. 11, 2013, as amended at 80 FR 70672, Nov. 16, 2015] Sec. 208.5 Dividends and other distributions. (a) Definitions. For the purposes of this section: (1) Capital surplus means the total of surplus as reportable in the bank's Reports of Condition and Income and surplus on perpetual preferred stock. (2) Permanent capital means the total of the bank's perpetual preferred stock and related surplus, common stock and surplus, and minority interest in consolidated subsidiaries, as reportable in the Reports of Condition and Income. (b) Limitations. The limitations in this section on the payment of dividends and withdrawal of capital apply to all cash and property dividends or distributions on common or preferred stock. The limitations do not apply to dividends paid in the form of common stock. (c) Earnings limitations on payment of dividends. (1) A member bank may not declare or pay a dividend if the total of all dividends declared during the calendar year, including the proposed dividend, exceeds the sum of the bank's net income (as reportable in its Reports of Condition and Income) during the current calendar year and the retained net income of the prior two calendar years, unless the dividend has been approved by the Board. (2) ``Retained net income'' in a calendar year is equal to the bank's net income (as reported in its Report of Condition and Income for such year), less any dividends declared during such year. \3\ The bank's net income during [[Page 193]] the current year and its retained net income from the prior two calendar years is reduced by any net losses incurred in the current or prior two years and any required transfers to surplus or to a fund for the retirement of preferred stock. \4\ --------------------------------------------------------------------------- \3\ In the case of dividends in excess of net income for the year, a bank generally is not required to carry forward negative amounts resulting from such excess. Instead, the bank may attribute the excess to the prior two years, attributing the excess first to the earlier year and then to the immediately preceding year. If the excess is greater than the bank's previously undistributed net income for the preceding two years, prior Board approval of the dividend is required and a negative amount would be carried forward in future dividend calculations. However, in determining any such request for approval, the Board could consider any request for different treatment of such negative amount, including advance waivers for future periods. This applies only to earnings deficits that result from dividends declared in excess of net income for the year and does not apply to other types of current earnings deficits. \4\ State member banks are required to comply with state law provisions concerning the maintenance of surplus funds in addition to common capital. Where the surplus of a State member bank is less than what applicable state law requires the bank to maintain relative to its capital stock account, the bank may be required to transfer amounts from its undivided profits account to surplus. --------------------------------------------------------------------------- (d) Limitation on withdrawal of capital by dividend or otherwise. (1) A member bank may not declare or pay a dividend if the dividend would exceed the bank's undivided profits as reportable on its Reports of Condition and Income, unless the bank has received the prior approval of the Board and of at least two-thirds of the shareholders of each class of stock outstanding. (2) A member bank may not permit any portion of its permanent capital to be withdrawn unless the withdrawal has been approved by the Board and by at least two-thirds of the shareholders of each class of stock outstanding. (3) If a member bank has capital surplus in excess of that required by law, the excess amount may be transferred to the bank's undivided profits account and be available for the payment of dividends if: (i) The amount transferred came from the earnings of prior periods, excluding earnings transferred as a result of stock dividends; (ii) The bank's board of directors approves the transfer of funds; and (iii) The transfer has been approved by the Board. (e) Payment of capital distributions. All member banks also are subject to the restrictions on payment of capital distributions contained in Sec. 208.45 of subpart D of this part implementing section 38 of the FDI Act (12 U.S.C. 1831o). (f) Compliance. A member bank shall use the date a dividend is declared to determine compliance with this section. [63 FR 37637, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.6 Establishment and maintenance of branches. (a) Branching. (1) To the extent authorized by state law, a member bank may establish and maintain branches (including interstate branches) subject to the same limitations and restrictions that apply to the establishment and maintenance of national bank branches (12 U.S.C. 36 and 1831u), except that approval of such branches shall be obtained from the Board rather than from the Comptroller of the Currency. (2) Branch applications. A State member bank wishing to establish a branch in the United States or its territories must file an application in accordance with the Board's Rules of Procedure, located at 12 CFR 262.3, and must comply with the public notice and comment rules contained in paragraphs (a)(3) and (a)(4) of this section. Branches of member banks located in foreign nations, in the overseas territories, dependencies, and insular possessions of those nations and of the United States, and in the Commonwealth of Puerto Rico, are subject to the Board's Regulation K (12 CFR part 211). (3) Public notice of branch applications--(i) Location of publication. A State member bank wishing to establish a branch in the United States or its territories must publish notice in a newspaper of general circulation in the form and at the locations specified in Sec. 262.3 of the Rules of Procedure (12 CFR 262.3). (ii) Contents of notice. The newspaper notice referred to in paragraph (a)(3) of [[Page 194]] this section shall provide an opportunity for interested persons to comment on the application for a period of at least 15 days. (iii) Timing of publication. Each newspaper notice shall be published no more than 7 calendar days before and no later than the calendar day on which an application is filed with the appropriate Reserve Bank. (4) Public comment--(i) Timely comments. Interested persons may submit information and comments regarding a branch application under Sec. 208.6. A comment shall be considered timely for purposes of this subpart if the comment, together with all supplemental information, is submitted in writing in accordance with the Board's Rules of Procedure (12 CFR 262.3) and received by the Board or the appropriate Reserve Bank prior to the expiration of the public comment period provided in paragraph (a)(3)(ii) of this section. (ii) Extension of comment period. The Board may, in its discretion, extend the public comment period regarding any application under Sec. 208.6. In the event that an interested person requests a copy of an application submitted under Sec. 208.6, the Board may, in its discretion and based on the facts and circumstances, grant such person an extension of the comment period for up to 15 calendar days. (b) Factors considered in approving domestic branch applications. Factors given special consideration by the Board in passing upon a branch application are: (1) Financial condition and management. The financial history and condition of the applying bank and the general character of its management; (2) Capital. The adequacy of the bank's capital in accordance with Sec. 208.4, and its future earnings prospects; (3) Convenience and needs. The convenience and needs of the community to be served by the branch; (4) CRA performance. In the case of branches with deposit-taking capability, the bank's performance under the Community Reinvestment Act (12 U.S.C. 2901 et seq.) and Regulation BB (12 CFR part 228); and (5) Investment in bank premises. Whether the bank's investment in bank premises in establishing the branch is consistent with Sec. 208.21. (c) Expedited approval for eligible banks and bank holding companies--(1) Availability of expedited treatment. The expedited branch application procedures described in paragraph (c)(2) of this section are available to: (i) An eligible bank; and (ii) A bank that cannot be determined to be an eligible bank because it has not received CAMELS compliance or CRA ratings from a bank regulatory authority, if it is controlled by a bank holding company that meets the criteria for expedited processing under Sec. 225.14(c) of Regulation Y (12 CFR 225.14(c)). (2) Expedited procedures. A completed domestic branch application filed with the appropriate Reserve Bank will be deemed approved on the fifth day after the close of the comment period, unless the Board or the appropriate Reserve Bank notifies the bank that the application is approved prior to that date (but in no case will an application be approved before the third day after the close of the public comment period) or the Board or the appropriate Federal Reserve Bank notifies the bank that the application is not eligible for expedited review for any reason, including, without limitation, that: (i) The bank or bank holding company does not meet the criteria under Sec. 208.6(c)(1); (ii) The application contains a material error or is otherwise deficient; or (iii) The application or the notice required under paragraph (a)(3) of this section, raises significant supervisory, Community Reinvestment Act, compliance, policy or legal issues that have not been resolved, or a timely substantive adverse comment is submitted. A comment will be considered substantive unless it involves individual complaints, or raises frivolous, previously considered, or wholly unsubstantiated claims or irrelevant issues. (d) Consolidated Applications--(1) Proposed branches; notice of branch opening. A member bank may seek approval in a single application or notice for any branches that it proposes to establish within one year after the approval date. The bank shall, unless notification is waived, notify the appropriate [[Page 195]] Reserve Bank not later than 30 days after opening any branch approved under a consolidated application. A bank is not required to open a branch approved under either a consolidated or single branch application. (2) Duration of branch approval. Branch approvals remain valid for one year unless the Board or the appropriate Reserve Bank notifies the bank that in its judgment, based on reports of condition, examinations, or other information, there has been a change in the bank's condition, financial or otherwise, that warrants reconsideration of the approval. (e) Branch closings. A member bank shall comply with section 42 of the FDI Act (FDI Act), 12 U.S.C. 1831r-1, with regard to branch closings. (f) Branch relocations. A relocation of an existing branch does not require filing a branch application. A relocation of an existing branch, for purposes of determining whether to file a branch application, is a movement that does not substantially affect the nature of the branch's business or customers served. [63 FR 37639, July 13, 1998, as amended at 63 FR 58621, Nov. 2, 1998] Sec. 208.7 Prohibition against use of interstate branches primarily for deposit production. (a) Purpose and scope--(1) Purpose. The purpose of this section is to implement section 109 (12 U.S.C. 1835a) of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act). (2) Scope. (i) This section applies to any State member bank that has operated a covered interstate branch for a period of at least one year, and any foreign bank that has operated a covered interstate branch licensed by a State for a period of at least one year. (ii) This section describes the requirements imposed under 12 U.S.C. 1835a, which requires the appropriate Federal banking agencies (the Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation) to prescribe uniform rules that prohibit a bank from using any authority to engage in interstate branching pursuant to the Interstate Act, or any amendment made by the Interstate Act to any other provision of law, primarily for the purpose of deposit production. (b) Definitions. For purposes of this section, the following definitions apply: (1) Bank means, unless the context indicates otherwise: (i) A State member bank as that term is defined in 12 U.S.C. 1813(d)(2); and (ii) A foreign bank as that term is defined in 12 U.S.C. 3101(7) and 12 CFR 211.21. (2) Covered interstate branch means: (i) Any branch of a State member bank, and any uninsured branch of a foreign bank licensed by a State, that: (A) Is established or acquired outside the bank's home State pursuant to the interstate branching authority granted by the Interstate Act or by any amendment made by the Interstate Act to any other provision of law; or (B) Could not have been established or acquired outside of the bank's home State but for the establishment or acquisition of a branch described in paragraph (b)(2)(i) of this section; and (ii) Any bank or branch of a bank controlled by an out-of-State bank holding company. (3) Home State means: (i) With respect to a State bank, the State that chartered the bank; (ii) With respect to a national bank, the State in which the main office of the bank is located; (iii) With respect to a bank holding company, the State in which the total deposits of all banking subsidiaries of such company are the largest on the later of: (A) July 1, 1966; or (B) The date on which the company becomes a bank holding company under the Bank Holding Company Act. (iv) With respect to a foreign bank: (A) For purposes of determining whether a U.S. branch of a foreign bank is a covered interstate branch, the home State of the foreign bank as determined in accordance with 12 U.S.C. 3103(c) and 12 CFR 211.22; and (B) For purposes of determining whether a branch of a U.S. bank controlled by a foreign bank is a covered interstate branch, the State in which [[Page 196]] the total deposits of all banking subsidiaries of such foreign bank are the largest on the later of: (1) July 1, 1966; or (2) The date on which the foreign bank becomes a bank holding company under the Bank Holding Company Act. (4) Host State means a State in which a covered interstate branch is established or acquired. (5) Host state loan-to-deposit ratio generally means, with respect to a particular host state, the ratio of total loans in the host state relative to total deposits from the host state for all banks (including institutions covered under the definition of ``bank'' in 12 U.S.C. 1813(a)(1)) that have that state as their home state, as determined and updated periodically by the appropriate Federal banking agencies and made available to the public. (6) Out-of-State bank holding company means, with respect to any State, a bank holding company whose home State is another State. (7) State means state as that term is defined in 12 U.S.C. 1813(a)(3). (8) Statewide loan-to-deposit ratio means, with respect to a bank, the ratio of the bank's loans to its deposits in a state in which the bank has one or more covered interstate branches, as determined by the Board. (c)(1) Application of screen. Beginning no earlier than one year after a covered interstate branch is acquired or established, the Board will consider whether the bank's statewide loan-to-deposit ratio is less than 50 percent of the relevant host State loan-to-deposit ratio. (2) Results of screen. (i) If the Board determines that the bank's statewide loan-to-deposit ratio is 50 percent or more of the host state loan-to-deposit ratio, no further consideration under this section is required. (ii) If the Board determines that the bank's statewide loan-to- deposit ratio is less than 50 percent of the host state loan-to-deposit ratio, or if reasonably available data are insufficient to calculate the bank's statewide loan-to-deposit ratio, the Board will make a credit needs determination for the bank as provided in paragraph (d) of this section. (d) Credit needs determination--(1) In general. The Board will review the loan portfolio of the bank and determine whether the bank is reasonably helping to meet the credit needs of the communities in the host state that are served by the bank. (2) Guidelines. The Board will use the following considerations as guidelines when making the determination pursuant to paragraph (d)(1) of this section: (i) Whether covered interstate branches were formerly part of a failed or failing depository institution; (ii) Whether covered interstate branches were acquired under circumstances where there was a low loan-to-deposit ratio because of the nature of the acquired institution's business or loan portfolio; (iii) Whether covered interstate branches have a high concentration of commercial or credit card lending, trust services, or other specialized activities, including the extent to which the covered interstate branches accept deposits in the host state; (iv) The Community Reinvestment Act ratings received by the bank, if any, under 12 U.S.C. 2901 et seq.; (v) Economic conditions, including the level of loan demand, within the communities served by the covered interstate branches; (vi) The safe and sound operation and condition of the bank; and (vii) The Board's Regulation BB--Community Reinvestment (12 CFR part 228) and interpretations of that regulation. (e) Sanctions--(1) In general. If the Board determines that a bank is not reasonably helping to meet the credit needs of the communities served by the bank in the host state, and that the bank's statewide loan-to-deposit ratio is less than 50 percent of the host state loan-to- deposit ratio, the Board: (i) May order that a bank's covered interstate branch or branches be closed unless the bank provides reasonable assurances to the satisfaction of the Board, after an opportunity for public comment, that the bank has an acceptable plan under which the bank will reasonably help to meet the credit needs of the communities served by the bank in the host state; and (ii) Will not permit the bank to open a new branch in the host state that would be considered to be a covered [[Page 197]] interstate branch unless the bank provides reasonable assurances to the satisfaction of the Board, after an opportunity for public comment, that the bank will reasonably help to meet the credit needs of the community that the new branch will serve. (2) Notice prior to closure of a covered interstate branch. Before exercising the Board's authority to order the bank to close a covered interstate branch, the Board will issue to the bank a notice of the Board's intent to order the closure and will schedule a hearing within 60 days of issuing the notice. (3) Hearing. The Board will conduct a hearing scheduled under paragraph (e)(2) of this section in accordance with the provisions of 12 U.S.C. 1818(h) and 12 CFR part 263. [63 FR 37637, July 13, 1998, as amended at 67 FR 38848, June 6, 2002] Subpart B_Investments and Loans Source: 63 FR 37641, July 13, 1998, unless otherwise noted. Sec. 208.20 Authority, purpose, and scope. (a) Authority. Subpart B of Regulation H (12 CFR part 208, subpart B) is issued by the Board of Governors of the Federal Reserve System under 12 U.S.C. 24; sections 9, 11 and 21 of the Federal Reserve Act (12 U.S.C. 321-338a, 248(a), 248(c), and 481-486); sections 1814, 1816, 1818, 1823(j), 1831o, 1831p-1 and 1831r-1 of the FDI Act (12 U.S.C. 1814, 1816, 1818, 1823(j), 1831o, 1831p-1 and 1831r-1); and the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4001-4129). (b) Purpose and scope. This subpart B describes certain investment limitations on member banks, statutory requirements for amortizing losses on agricultural loans and extending credit in areas having special flood hazards, as well as the requirements for issuing letters of credit and acceptances. Sec. 208.21 Investments in premises and securities. (a) Investment in bank premises. No state member bank shall invest in bank premises, or in the stock, bonds, debentures, or other such obligations of any corporation holding the premises of such bank, or make loans to or upon the security of any such corporation unless: (1) The bank notifies the appropriate Reserve Bank at least fifteen days prior to such investment and has not received notice that the investment is subject to further review by the end of the fifteen day notice period; (2) The aggregate of all such investments and loans, together with the amount of any indebtedness incurred by any such corporation that is an affiliate of the bank (as defined in section 2 of the Banking Act of 1933, as amended, 12 U.S.C. 221a), is less than or equal to the bank's perpetual preferred stock and related surplus plus common stock plus surplus, as those terms are defined in the FFIEC Consolidated Reports of Condition and Income; or (3)(i) The aggregate of all such investments and loans, together with the amount of any indebtedness incurred by any such corporation that is an affiliate of the bank, is less than or equal to 150 percent of the bank's perpetual preferred stock and related surplus plus common stock plus surplus, as those terms are defined in the FFIEC Consolidated Reports of Condition and Income; and (ii) The bank: (A) Has a CAMELS composite rating of 1 or 2 under the Uniform Interagency Bank Rating System \5\ (or an equivalent rating under a comparable rating system) as of the most recent examination of the bank; and --------------------------------------------------------------------------- \5\ See FRRS 3-1575 for an explanation of the Uniform Interagency Bank Rating System. (For availability, see 12 CFR 261.10(f).) --------------------------------------------------------------------------- (B) Is well capitalized and will continue to be well capitalized, in accordance with subpart D of this part, after the investment or loan. (b) Investments in securities. Member banks are subject to the same limitations and conditions with respect to purchasing, selling, underwriting, and holding investment securities and stocks as are national banks under 12 U.S.C. 24, ] 7th. To determine whether an obligation qualifies as an investment security for the purposes of 12 U.S.C. 24, ] 7th, and to calculate the limits with respect to the purchase of [[Page 198]] such obligations, a state member bank may look to part 1 of the rules of the Comptroller of the Currency (12 CFR part 1) and interpretations thereunder. A state member bank may consult the Board for a determination with respect to the application of 12 U.S.C. 24, ] 7th, with respect to issues not addressed in 12 CFR part 1. The provisions of 12 CFR part 1 do not provide authority for a state member bank to purchase securities of a type or amount that the bank is not authorized to purchase under applicable state law. [63 FR 37641, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.22 Community development and public welfare investments. (a) Definitions. For purposes of this section: (1) Low- or moderate-income area means: (i) One or more census tracts in a Metropolitan Statistical Area where the median family income adjusted for family size in each census tract is less than 80 percent of the median family income adjusted for family size of the Metropolitan Statistical Area; or (ii) If not in a Metropolitan Statistical Area, one or more census tracts or block-numbered areas where the median family income adjusted for family size in each census tract or block-numbered area is less than 80 percent of the median family income adjusted for family size of the State. (2) Low- and moderate-income persons has the same meaning as low- and moderate-income persons as defined in 42 U.S.C. 5302(a)(20)(A). (3) Small business means a business that meets the size-eligibility standards of 13 CFR 121.802(a)(2). (b) Investments not requiring prior Board approval. Notwithstanding the provisions of section 5136 of the Revised Statutes (12 U.S.C. 24, ] 7th) made applicable to member banks by paragraph 20 of section 9 of the Federal Reserve Act (12 U.S.C. 335), a member bank may make an investment, without prior Board approval, if the following conditions are met: (1) The investment is in a corporation, limited partnership, or other entity, and: (i) The Board has determined that an investment in that entity or class of entities is a public welfare investment under paragraph 23 of section 9 of the Federal Reserve Act (12 U.S.C. 338a), or a community development investment under Regulation Y (12 CFR 225.25(b)(6)); or (ii) The Comptroller of the Currency has determined, by order or regulation, that an investment in that entity by a national bank is a public welfare investment under section 5136 of the Revised Statutes (12 U.S.C. 24 (Eleventh)); or (iii) The entity is a community development financial institution as defined in section 103(5) of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702(5)); or (iv) The entity, directly or indirectly, engages solely in or makes loans solely for the purposes of one or more of the following community development activities: (A) Investing in, developing, rehabilitating, managing, selling, or renting residential property if a majority of the units will be occupied by low- and moderate-income persons, or if the property is a ``qualified low-income building'' as defined in section 42(c)(2) of the Internal Revenue Code (26 U.S.C. 42(c)(2)); (B) Investing in, developing, rehabilitating, managing, selling, or renting nonresidential real property or other assets located in a low- or moderate-income area and targeted towards low- and moderate-income persons; (C) Investing in one or more small businesses located in a low- or moderate-income area to stimulate economic development; (D) Investing in, developing, or otherwise assisting job training or placement facilities or programs that will be targeted towards low- and moderate-income persons; (E) Investing in an entity located in a low- or moderate-income area if the entity creates long-term employment opportunities, a majority of which (based on full-time equivalent positions) will be held by low- and moderate-income persons; and [[Page 199]] (F) Providing technical assistance, credit counseling, research, and program development assistance to low- and moderate-income persons, small businesses, or nonprofit corporations to help achieve community development; (2) The investment is permitted by state law; (3) The investment will not expose the member bank to liability beyond the amount of the investment; (4) The aggregate of all such investments of the member bank does not exceed the sum of five percent of its capital stock and surplus; (5) The member bank is well capitalized or adequately capitalized under Sec. Sec. 208.43(b) (1) and (2); (6) The member bank received a composite CAMELS rating of ``1'' or ``2'' under the Uniform Financial Institutions Rating System as of its most recent examination and an overall rating of ``1'' or ``2'' as of its most recent consumer compliance examination; and (7) The member bank is not subject to any written agreement, cease- and-desist order, capital directive, prompt-corrective-action directive, or memorandum of understanding issued by the Board or a Federal Reserve Bank. (c) Notice to Federal Reserve Bank. Not more than 30 days after making an investment under paragraph (b) of this section, the member bank shall advise its Federal Reserve Bank of the investment, including the amount of the investment and the identity of the entity in which the investment is made. (d) Investments requiring Board approval. (1) With prior Board approval, a member bank may make public welfare investments under paragraph 23 of section 9 of the Federal Reserve Act (12 U.S.C. 338a), other than those specified in paragraph (b) of this section. (2) Requests for Board approval under this paragraph (d) shall include, at a minimum: (i) The amount of the proposed investment; (ii) A description of the entity in which the investment is to be made; (iii) An explanation of why the investment is a public welfare investment under paragraph 23 of section 9 of the Federal Reserve Act (12 U.S.C. 338a); (iv) A description of the member bank's potential liability under the proposed investment; (v) The amount of the member bank's aggregate outstanding public welfare investments under paragraph 23 of section 9 of the Federal Reserve Act; (vi) The amount of the member bank's capital stock and surplus; and (vii) If the bank investment is not eligible under paragraph (b) of this section, explain the reason or reasons why it is ineligible. (3) The Board shall act on a request under this paragraph (d) within 60 calendar days of receipt of a request that meets the requirements of paragraph (d)(2) of this section, unless the Board notifies the requesting member bank that a longer time period will be required. (e) Divestiture of investments. A member bank shall divest itself of an investment made under paragraph (b) or (d) of this section to the extent that the investment exceeds the scope of, or ceases to meet, the requirements of paragraphs (b)(1) through (b)(4) or paragraph (d) of this section. The divestiture shall be made in the manner specified in 12 CFR 225.140, Regulation Y, for interests acquired by a lending subsidiary of a bank holding company or the bank holding company itself in satisfaction of a debt previously contracted. Sec. 208.23 Agricultural loan loss amortization. (a) Definitions. For purposes of this section: (1) Accepting official means: (i) The Reserve Bank in whose district the bank is located; or (ii) The Director of the Division of Banking Supervision and Regulation in cases in which the Reserve Bank cannot determine that the bank qualifies. (2) Agriculturally related other property means any property, real or personal, that the bank owned on January 1, 1983, and any additional property that it acquired prior to January 1, 1992, in connection with a qualified agricultural loan. For the purposes of paragraph (d) of this section, the value of such property shall include the amount previously charged off as a loss. [[Page 200]] (3) Participating bank means an agricultural bank (as defined in 12 U.S.C. 1823(j)(4)(A)) that, as of January 1, 1992, had a proposal for a capital restoration plan accepted by an accepting official and received permission from the accepting official, subject to paragraphs (d) and (e) of this section, to amortize losses in accordance with paragraphs (b) and (c) of this section. (4) Qualified agricultural loan means: (i) Loans that finance agricultural production or are secured by farm land for purposes of Schedule RC-C of the FFIEC Consolidated Report of Condition or such other comparable schedule; (ii) Loans secured by farm machinery; (iii) Other loans that a bank proves to be sufficiently related to agriculture for classification as an agricultural loan by the Board; and (iv) The remaining unpaid balance of any loans described in paragraphs (a)(4) (i), (ii) and (iii) of this section that have been charged off since January 1, 1984, and that qualify for deferral under this section. (b)(1) Provided there is no evidence that the loss resulted from fraud or criminal abuse on the part of the bank, the officers, directors, or principal shareholders, a participating bank may amortize in its Reports of Condition and Income: (i) Any loss on a qualified agricultural loan that the bank would be required to reflect in its financial statements for any period between and including 1984 and 1991; or (ii) Any loss that the bank would be required to reflect in its financial statements for any period between and including 1983 and 1991 resulting from a reappraisal or sale of agriculturally-related other property. (2) Amortization under this section shall be computed over a period not to exceed seven years on a quarterly straight-line basis commencing in the first quarter after the loan was or is charged off so as to be fully amortized not later than December 31, 1998. (c) Accounting for amortization. Any bank that is permitted to amortize losses in accordance with paragraph (b) of this section may restate its capital and other relevant accounts and account for future authorized deferrals and authorization in accordance with the instructions to the FFIEC Consolidated Reports of Condition and Income. Any resulting increase in the capital account shall be included in capital pursuant to part 217 of this chapter. (d) Conditions of participation. In order for a bank to maintain its status as a participating bank, it shall: (1) Adhere to the approved capital plan and obtain the prior approval of the accepting official before making any modifications to the plan; (2) Maintain accounting records for each asset subject to loss deferral under the program that document the amount and timing of the deferrals, repayments, and authorizations; (3) Maintain the financial condition of the bank so that it does not deteriorate to the point where it is no longer a viable, fundamentally sound institution; (4) Make a reasonable effort, consistent with safe and sound banking practices, to maintain in its loan portfolio a percentage of agricultural loans, including agriculturally-related other property, not less than the percentage of such loans in its loan portfolio on January 1, 1986; and (5) Provide the accepting official, upon request, with any information the accepting official deems necessary to monitor the bank's amortization, its compliance with the conditions of participation, and its continued eligibility. (e) Revocation of eligibility for loss amortization. The failure to comply with any condition in an acceptance, with the capital restoration plan, or with the conditions stated in paragraph (d) of this section, is grounds for revocation of acceptance for loss amortization and for an administrative action against the bank under 12 U.S.C. 1818(b). In addition, acceptance of a bank for loss amortization shall not foreclose any administrative action against the bank that the Board may deem appropriate. (f) Expiration date. The terms of this section will no longer be in effect as of January 1, 1999. [63 FR 37641, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013] [[Page 201]] Sec. 208.24 Letters of credit and acceptances. (a) Standby letters of credit. For the purpose of this section, standby letters of credit include every letter of credit (or similar arrangement however named or designated) that represents an obligation to the beneficiary on the part of the issuer: (1) To repay money borrowed by or advanced to or for the account of the account party; or (2) To make payment on account of any evidence of indebtedness undertaken by the account party; or (3) To make payment on account of any default by the party procuring the issuance of the letter of credit in the performance of an obligation. \6\ --------------------------------------------------------------------------- \6\ A standby letter of credit does not include: (1) Commercial letters of credit and similar instruments, where the issuing bank expects the beneficiary to draw upon the issuer, and which do not guaranty payment of a money obligation; or (2) a guaranty or similar obligation issued by a foreign branch in accordance with and subject to the limitations of 12 CFR part 211 (Regulation K). --------------------------------------------------------------------------- (b) Ineligible acceptance. An ineligible acceptance is a time draft accepted by a bank, which does not meet the requirements for discount with a Federal Reserve Bank. (c) Bank's lending limits. Standby letters of credit and ineligible acceptances count toward member banks' lending limits imposed by state law. (d) Exceptions. A standby letter of credit or ineligible acceptance is not subject to the restrictions set forth in paragraph (c) of this section if prior to or at the time of issuance of the credit: (1) The issuing bank is paid an amount equal to the bank's maximum liability under the standby letter of credit; or (2) The party procuring the issuance of a letter of credit or ineligible acceptance has set aside sufficient funds in a segregated, clearly earmarked deposit account to cover the bank's maximum liability under the standby letter of credit or ineligible acceptance. [63 FR 37641, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.25 Loans in areas having special flood hazards. (a) Purpose and scope--(1) Purpose. The purpose of this section is to implement the requirements of the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4001-4129). (2) Scope. This section, except for paragraphs (f) and (h) of this section, applies to loans secured by buildings or mobile homes located or to be located in areas determined by the Administrator of the Federal Emergency Management Agency to have special flood hazards. Paragraphs (f) and (h) of this section apply to loans secured by buildings or mobile homes, regardless of location. (b) Definitions. For purposes of this section: (1) Act means the National Flood Insurance Act of 1968, as amended (42 U.S.C. 4001-4129). (2) Administrator of FEMA means the Administrator of the Federal Emergency Management Agency. (3) Building means a walled and roofed structure, other than a gas or liquid storage tank, that is principally above ground and affixed to a permanent site, and a walled and roofed structure while in the course of construction, alteration, or repair. (4) Community means a State or a political subdivision of a State that has zoning and building code jurisdiction over a particular area having special flood hazards. (5) Designated loan means a loan secured by a building or mobile home that is located or to be located in a special flood hazard area in which flood insurance is available under the Act. (6) Mobile home means a structure, transportable in one or more sections, that is built on a permanent chassis and designed for use with or without a permanent foundation when attached to the required utilities. The term mobile home does not include a recreational vehicle. For purposes of this section, the term mobile home means a mobile home on a permanent foundation. The term mobile home includes a manufactured home as that term is used in the NFIP. (7) Mutual aid society means an organization-- [[Page 202]] (i) Whose members share a common religious, charitable, educational, or fraternal bond; (ii) That covers losses caused by damage to members' property pursuant to an agreement, including damage caused by flooding, in accordance with this common bond; and (iii) That has a demonstrated history of fulfilling the terms of agreements to cover losses to members' property caused by flooding. (8) NFIP means the National Flood Insurance Program authorized under the Act. (9) Private flood insurance means an insurance policy that: (i) Is issued by an insurance company that is: (A) Licensed, admitted, or otherwise approved to engage in the business of insurance by the insurance regulator of the State or jurisdiction in which the property to be insured is located; or (B) Recognized, or not disapproved, as a surplus lines insurer by the insurance regulator of the State or jurisdiction in which the property to be insured is located in the case of a policy of difference in conditions, multiple peril, all risk, or other blanket coverage insuring nonresidential commercial property; (ii) Provides flood insurance coverage that is at least as broad as the coverage provided under an SFIP for the same type of property, including when considering deductibles, exclusions, and conditions offered by the insurer. To be at least as broad as the coverage provided under an SFIP, the policy must, at a minimum: (A) Define the term ``flood'' to include the events defined as a ``flood'' in an SFIP; (B) Contain the coverage specified in an SFIP, including that relating to building property coverage; personal property coverage, if purchased by the insured mortgagor(s); other coverages; and increased cost of compliance coverage; (C) Contain deductibles no higher than the specified maximum, and include similar non-applicability provisions, as under an SFIP, for any total policy coverage amount up to the maximum available under the NFIP at the time the policy is provided to the lender; (D) Provide coverage for direct physical loss caused by a flood and may only exclude other causes of loss that are excluded in an SFIP. Any exclusions other than those in an SFIP may pertain only to coverage that is in addition to the amount and type of coverage that could be provided by an SFIP or have the effect of providing broader coverage to the policyholder; and (E) Not contain conditions that narrow the coverage provided in an SFIP; (iii) Includes all of the following: (A) A requirement for the insurer to give written notice 45 days before cancellation or non-renewal of flood insurance coverage to: (1) The insured; and (2) The member bank that made the designated loan secured by the property covered by the flood insurance, or the servicer acting on its behalf; (B) Information about the availability of flood insurance coverage under the NFIP; (C) A mortgage interest clause similar to the clause contained in an SFIP; and (D) A provision requiring an insured to file suit not later than one year after the date of a written denial of all or part of a claim under the policy; and (iv) Contains cancellation provisions that are as restrictive as the provisions contained in an SFIP. (10) Residential improved real estate means real estate upon which a home or other residential building is located or to be located. (11) Servicer means the person responsible for: (i) Receiving any scheduled, periodic payments from a borrower under the terms of a loan, including amounts for taxes, insurance premiums, and other charges with respect to the property securing the loan; and (ii) Making payments of principal and interest and any other payments from the amounts received from the borrower as may be required under the terms of the loan. (12) SFIP means, for purposes of paragraph (b)(9) of this section, a standard flood insurance policy issued under the NFIP in effect as of the date private [[Page 203]] flood insurance is provided to a member bank. (13) Special flood hazard area means the land in the flood plain within a community having at least a one percent chance of flooding in any given year, as designated by the Administrator of FEMA. (14) Table funding means a settlement at which a loan is funded by a contemporaneous advance of loan funds and an assignment of the loan to the person advancing the funds. (c) Requirement to purchase flood insurance where available--(1) In general. A member bank shall not make, increase, extend, or renew any designated loan unless the building or mobile home and any personal property securing the loan is covered by flood insurance for the term of the loan. The amount of insurance must be at least equal to the lesser of the outstanding principal balance of the designated loan or the maximum limit of coverage available for the particular type of property under the Act. Flood insurance coverage under the Act is limited to the building or mobile home and any personal property that secures a loan and not the land itself. (2) Table funded loans. A member bank that acquires a loan from a mortgage broker or other entity through table funding shall be considered to be making a loan for the purposes of this section. (3) Private flood insurance--(i) Mandatory acceptance. A member bank must accept private flood insurance, as defined in paragraph (b)(9) of this section, in satisfaction of the flood insurance purchase requirement in paragraph (c)(1) of this section if the policy meets the requirements for coverage in paragraph (c)(1) of this section. (ii) Compliance aid for mandatory acceptance. A member bank may determine that a policy meets the definition of private flood insurance in paragraph (b)(9) of this section, without further review of the policy, if the following statement is included within the policy or as an endorsement to the policy: ``This policy meets the definition of private flood insurance contained in 42 U.S.C. 4012a(b)(7) and the corresponding regulation.'' (iii) Discretionary acceptance. A member bank may accept a flood insurance policy issued by a private insurer that is not issued under the NFIP and that does not meet the definition of private flood insurance in paragraph (b)(9) of this section in satisfaction of the flood insurance purchase requirement in paragraph (c)(1) of this section if the policy: (A) Provides coverage in the amount required by paragraph (c)(1) of this section; (B) Is issued by an insurer that is licensed, admitted, or otherwise approved to engage in the business of insurance by the insurance regulator of the State or jurisdiction in which the property to be insured is located; or in the case of a policy of difference in conditions, multiple peril, all risk, or other blanket coverage insuring nonresidential commercial property, is issued by a surplus lines insurer recognized, or not disapproved, by the insurance regulator of the State or jurisdiction where the property to be insured is located; (C) Covers both the mortgagor(s) and the mortgagee(s) as loss payees, except in the case of a policy that is provided by a condominium association, cooperative, homeowners association, or other applicable group and for which the premium is paid by the condominium association, cooperative, homeowners association, or other applicable group as a common expense; and (D) Provides sufficient protection of the designated loan, consistent with general safety and soundness principles, and the member bank documents its conclusion regarding sufficiency of the protection of the loan in writing. (iv) Mutual aid societies. Notwithstanding the requirements of paragraph (c)(3)(iii) of this section, a member bank may accept a plan issued by a mutual aid society, as defined in paragraph (b)(7) of this section, in satisfaction of the flood insurance purchase requirement in paragraph (c)(1) of this section if: (A) The Board has determined that such plans qualify as flood insurance for purposes of the Act. [[Page 204]] (B) The plan provides coverage in the amount required by paragraph (c)(1) of this section; (C) The plan covers both the mortgagor(s) and the mortgagee(s) as loss payees; and (D) The plan provides sufficient protection of the designated loan, consistent with general safety and soundness principles, and the member bank documents its conclusion regarding sufficiency of the protection of the loan in writing. (d) Exemptions. The flood insurance requirement prescribed by paragraph (c) of this section does not apply with respect to: (1) Any State-owned property covered under a policy of self- insurance satisfactory to the Administrator of FEMA, who publishes and periodically revises the list of States falling within this exemption; (2) Property securing any loan with an original principal balance of $5,000 or less and a repayment term of one year or less; or (3) Any structure that is a part of any residential property but is detached from the primary residential structure of such property and does not serve as a residence. For purposes of this paragraph (d)(3): (i) ``A structure that is a part of a residential property'' is a structure used primarily for personal, family, or household purposes, and not used primarily for agricultural, commercial, industrial, or other business purposes; (ii) A structure is ``detached'' from the primary residential structure if it is not joined by any structural connection to that structure; and (iii) ``Serve as a residence'' shall be based upon the good faith determination of the member bank that the structure is intended for use or actually used as a residence, which generally includes sleeping, bathroom, or kitchen facilities. (e) Escrow requirement--(1) In general--(i) Applicability. Except as provided in paragraphs (e)(1)(ii) or (e)(3) of this section, a member bank, or a servicer acting on its behalf, shall require the escrow of all premiums and fees for any flood insurance required under paragraph (c) of this section for any designated loan secured by residential improved real estate or a mobile home that is made, increased, extended, or renewed on or after January 1, 2016, payable with the same frequency as payments on the designated loan are required to be made for the duration of the loan. (ii) Exceptions. Paragraph (e)(1)(i) of this section does not apply if: (A) The loan is an extension of credit primarily for business, commercial, or agricultural purposes; (B) The loan is in a subordinate position to a senior lien secured by the same residential improved real estate or mobile home for which the borrower has obtained flood insurance coverage that meets the requirements of paragraph (c) of this section; (C) Flood insurance coverage for the residential improved real estate or mobile home is provided by a policy that: (1) Meets the requirements of paragraph (c) of this section; (2) Is provided by a condominium association, cooperative, homeowners association, or other applicable group; and (3) The premium for which is paid by the condominium association, cooperative, homeowners association, or other applicable group as a common expense; (D) The loan is a home equity line of credit; (E) The loan is a nonperforming loan, which is a loan that is 90 or more days past due and remains nonperforming until it is permanently modified or until the entire amount past due, including principal, accrued interest, and penalty interest incurred as the result of past due status, is collected or otherwise discharged in full; or (F) The loan has a term of not longer than 12 months. (iii) Duration of exception. If a member bank, or a servicer acting on behalf of the bank, determines at any time during the term of a designated loan secured by residential improved real estate or a mobile home that is made, increased, extended, or renewed on or after January 1, 2016, that an exception under paragraph (e)(1)(ii) of this section does not apply, then the bank or its servicer shall require the escrow of all premiums and fees for any flood insurance required under paragraph (c) of [[Page 205]] this section as soon as reasonably practicable and, if applicable, shall provide any disclosure required under section 10 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2609) (RESPA). (iv) Escrow account. The member bank, or a servicer acting on its behalf, shall deposit the flood insurance premiums and fees on behalf of the borrower in an escrow account. This escrow account will be subject to escrow requirements adopted pursuant to section 10 of RESPA, which generally limits the amount that may be maintained in escrow accounts for certain types of loans and requires escrow account statements for those accounts, only if the loan is otherwise subject to RESPA. Following receipt of a notice from the Administrator of FEMA or other provider of flood insurance that premiums are due, the member bank, or a servicer acting on its behalf, shall pay the amount owed to the insurance provider from the escrow account by the date when such premiums are due. (2) Notice. For any loan for which a member bank is required to escrow under paragraphs (e)(1) or (e)(3)(ii) of this section or may be required to escrow under paragraph (e)(1)(iii) of this section during the term of the loan, the member bank, or a servicer acting on its behalf, shall mail or deliver a written notice with the notice provided under paragraph (i) of this section informing the borrower that the member bank is required to escrow all premiums and fees for required flood insurance, using language that is substantially similar to model clauses on the escrow requirement in appendix A to this section. (3) Small lender exception--(i) Qualification. Except as may be required under applicable State law, paragraphs (e)(1), (2), and (4) of this section do not apply to a member bank: (A) That has total assets of less than $1 billion as of December 31 of either of the two prior calendar years; and (B) On or before July 6, 2012: (1) Was not required under Federal or State law to deposit taxes, insurance premiums, fees, or any other charges in an escrow account for the entire term of any loan secured by residential improved real estate or a mobile home; and (2) Did not have a policy of consistently and uniformly requiring the deposit of taxes, insurance premiums, fees, or any other charges in an escrow account for any loans secured by residential improved real estate or a mobile home. (ii) Change in status. If a member bank previously qualified for the exception in paragraph (e)(3)(i) of this section, but no longer qualifies for the exception because it had assets of $1 billion or more for two consecutive calendar year ends, the member bank must escrow premiums and fees for flood insurance pursuant to paragraph (e)(1) of this section for any designated loan made, increased, extended, or renewed on or after July 1 of the first calendar year of changed status. (4) Option to escrow--(i) In general. A member bank, or a servicer acting on its behalf, shall offer and make available to the borrower the option to escrow all premiums and fees for any flood insurance required under paragraph (c) of this section for any loan secured by residential improved real estate or a mobile home that is outstanding on January 1, 2016, or July 1 of the first calendar year in which the member bank has had a change in status pursuant to paragraph (e)(3)(ii) of this section, unless: (A) The loan or the member bank qualifies for an exception from the escrow requirement under paragraphs (e)(1)(ii) or (e)(3) of this section, respectively; (B) The borrower is already escrowing all premiums and fees for flood insurance for the loan; or (C) The member bank is required to escrow flood insurance premiums and fees pursuant to paragraph (e)(1) of this section. (ii) Notice. For any loan subject to paragraph (e)(4)(i) of this section, the member bank, or a servicer acting on its behalf, shall mail or deliver to the borrower no later than June 30, 2016, or September 30 of the first calendar year in which the member bank has had a change in status pursuant to paragraph (e)(3)(ii) of this section, a notice in writing, or if the borrower agrees, electronically, informing the borrower of [[Page 206]] the option to escrow all premiums and fees for any required flood insurance and the method(s) by which the borrower may request the escrow, using language similar to the model clause in appendix B to this section. (iii) Timing. The member bank or servicer must begin escrowing premiums and fees for flood insurance as soon as reasonably practicable after the member bank or servicer receives the borrower's request to escrow. (f) Required use of standard flood hazard determination form--(1) Use of form. A state member bank shall use the standard flood hazard determination form developed by the Administrator of FEMA when determining whether the building or mobile home offered as collateral security for a loan is or will be located in a special flood hazard area in which flood insurance is available under the Act. The standard flood hazard determination form may be used in a printed, computerized, or electronic manner. A state member bank may obtain the standard flood hazard determination form from FEMA's Web site at www.fema.gov. (2) Retention of form. A state member bank shall retain a copy of the completed standard flood hazard determination form, in either hard copy or electronic form, for the period of time the state member bank owns the loan. (g) Force placement of flood insurance--(1) Notice and purchase of coverage. If a member bank, or a servicer acting on behalf of the bank, determines at any time during the term of a designated loan, that the building or mobile home and any personal property securing the designated loan is not covered by flood insurance or is covered by flood insurance in an amount less than the amount required under paragraph (c) of this section, then the member bank or its servicer shall notify the borrower that the borrower should obtain flood insurance, at the borrower's expense, in an amount at least equal to the amount required under paragraph (c) of this section, for the remaining term of the loan. If the borrower fails to obtain flood insurance within 45 days after notification, then the member bank or its servicer shall purchase insurance on the borrower's behalf. The member bank or its servicer may charge the borrower for the cost of premiums and fees incurred in purchasing the insurance, including premiums or fees incurred for coverage beginning on the date on which flood insurance coverage lapsed or did not provide a sufficient coverage amount. (2) Termination of force-placed insurance--(i) Termination and refund. Within 30 days of receipt by a member bank, or a servicer acting on its behalf, of a confirmation of a borrower's existing flood insurance coverage, the member bank or its servicer shall: (A) Notify the insurance provider to terminate any insurance purchased by the member bank or its servicer under paragraph (g)(1) of this section; and (B) Refund to the borrower all premiums paid by the borrower for any insurance purchased by the member bank or its servicer under paragraph (g)(1) of this section during any period during which the borrower's flood insurance coverage and the insurance coverage purchased by the member bank or its servicer were each in effect, and any related fees charged to the borrower with respect to the insurance purchased by the member bank or its servicer during such period. (ii) Sufficiency of demonstration. For purposes of confirming a borrower's existing flood insurance coverage under paragraph (g)(2) of this section, a member bank or its servicer shall accept from the borrower an insurance policy declarations page that includes the existing flood insurance policy number and the identity of, and contact information for, the insurance company or agent. (h) Determination fees.--(1) General. Notwithstanding any Federal or State law other than the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4001-4129), any member bank, or a servicer acting on behalf of the bank, may charge a reasonable fee for determining whether the building or mobile home securing the loan is located or will be located in a special flood hazard area. A determination fee may also include, but is not limited to, a fee for life-of-loan monitoring. (2) Borrower fee. The determination fee authorized by paragraph (h)(1) of this section may be charged to the borrower if the determination: [[Page 207]] (i) Is made in connection with a making, increasing, extending, or renewing of the loan that is initiated by the borrower; (ii) Reflects the Administrator of FEMA's revision or updating of flood plain areas or flood-risk zones; (iii) Reflects the Administrator of FEMA's publication of a notice or compendium that: (A) Affects the area in which the building or mobile home securing the loan is located; or (B) By determination of the Administrator of FEMA, may reasonably require a determination whether the building or mobile home securing the loan is located in a special flood hazard area; or (iv) Results in the purchase of flood insurance coverage by the lender or its servicer on behalf of the borrower under paragraph (g) of this section. (3) Purchaser or transferee fee. The determination fee authorized by paragraph (h)(1) of this section may be charged to the purchaser or transferee of a loan in the case of the sale or transfer of the loan. (i) Notice of special flood hazards and availability of Federal disaster relief assistance. When a member bank makes, increases, extends, or renews a loan secured by a building or a mobile home located or to be located in a special flood hazard area, the bank shall mail or deliver a written notice to the borrower and to the servicer in all cases whether or not flood insurance is available under the Act for the collateral securing the loan. (1) Contents of notice. The written notice must include the following information: (i) A warning, in a form approved by the Administrator of FEMA, that the building or the mobile home is or will be located in a special flood hazard area; (ii) A description of the flood insurance purchase requirements set forth in section 102(b) of the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4012a(b)); (iii) A statement, where applicable, that flood insurance coverage is available from private insurance companies that issue standard flood insurance policies on behalf of the NFIP or directly from the NFIP; (iv) A statement that flood insurance that provides the same level of coverage as a standard flood insurance policy under the NFIP also may be available from a private insurance company that issues policies on behalf of the company; (v) A statement that the borrower is encouraged to compare the flood insurance coverage, deductibles, exclusions, conditions, and premiums associated with flood insurance policies issued on behalf of the NFIP and policies issued on behalf of private insurance companies and that the borrower should direct inquiries regarding the availability, cost, and comparisons of flood insurance coverage to an insurance agent; and (vi) A statement whether Federal disaster relief assistance may be available in the event of damage to the building or mobile home caused by flooding in a Federally declared disaster. (2) Timing of notice. The member bank shall provide the notice required by paragraph (i)(1) of this section to the borrower within a reasonable time before the completion of the transaction, and to the servicer as promptly as practicable after the bank provides notice to the borrower and in any event no later than the time the bank provides other similar notices to the servicer concerning hazard insurance and taxes. Notice to the servicer may be made electronically or may take the form of a copy of the notice to the borrower. (3) Record of receipt. The member bank shall retain a record of the receipt of the notices by the borrower and the servicer for the period of time the bank owns the loan. (4) Alternate method of notice. Instead of providing the notice to the borrower required by paragraph (i)(1) of this section, a member bank may obtain satisfactory written assurance from a seller or lessor that, within a reasonable time before the completion of the sale or lease transaction, the seller or lessor has provided such notice to the purchaser or lessee. The member bank shall retain a record of the written assurance from the seller or lessor for the period of time the bank owns the loan. [[Page 208]] (5) Use of sample form of notice. A member bank will be considered to be in compliance with the requirement for notice to the borrower of this paragraph (i) of this section by providing written notice to the borrower containing the language presented in appendix A of this section within a reasonable time before the completion of the transaction. The notice presented in appendix A of this section satisfies the borrower notice requirements of the Act. (j) Notice of servicer's identity--(1) Notice requirement. When a member bank makes, increases, extends, renews, sells, or transfers a loan secured by a building or mobile home located or to be located in a special flood hazard area, the bank shall notify the Administrator of FEMA (or the Administrator's designee) in writing of the identity of the servicer of the loan. The Administrator of FEMA has designated the insurance provider to receive the member bank's notice of the servicer's identity. This notice may be provided electronically if electronic transmission is satisfactory to the Administrator of FEMA's designee. (2) Transfer of servicing rights. The member bank shall notify the Administrator of FEMA (or the Administrator's designee) of any change in the servicer of a loan described in paragraph (j)(1) of this section within 60 days after the effective date of the change. This notice may be provided electronically if electronic transmission is satisfactory to the Administrator of FEMA's designee. Upon any change in the servicing of a loan described in paragraph (j)(1) of this section, the duty to provide notice under this paragraph (j)(2) of this section shall transfer to the transferee servicer. Appendix A to Sec. 208.25--Sample Form of Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance We are giving you this notice to inform you that: The building or mobile home securing the loan for which you have applied is or will be located in an area with special flood hazards. The area has been identified by the Administrator of the Federal Emergency Management Agency (FEMA) as a special flood hazard area using FEMA's Flood Insurance Rate Map or the Flood Hazard Boundary Map for the following community: ______. This area has a one percent (1%) chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year. During the life of a 30-year mortgage loan, the risk of a 100-year flood in a special flood hazard area is 26 percent (26%). Federal law allows a lender and borrower jointly to request the Administrator of FEMA to review the determination of whether the property securing the loan is located in a special flood hazard area. If you would like to make such a request, please contact us for further information. ____ The community in which the property securing the loan is located participates in the National Flood Insurance Program (NFIP). Federal law will not allow us to make you the loan that you have applied for if you do not purchase flood insurance. The flood insurance must be maintained for the life of the loan. If you fail to purchase or renew flood insurance on the property, Federal law authorizes and requires us to purchase the flood insurance for you at your expense. At a minimum, flood insurance purchased must cover the lesser of: (1) the outstanding principal balance of the loan; or (2) the maximum amount of coverage allowed for the type of property under the NFIP. Flood insurance coverage under the NFIP is limited to the building or mobile home and any personal property that secures your loan and not the land itself. Federal disaster relief assistance (usually in the form of a low-interest loan) may be available for damages incurred in excess of your flood insurance if your community's participation in the NFIP is in accordance with NFIP requirements. Although you may not be required to maintain flood insurance on all structures, you may still wish to do so, and your mortgage lender may still require you to do so to protect the collateral securing the mortgage. If you choose not to maintain flood insurance on a structure and it floods, you are responsible for all flood losses relating to that structure. Availability of Private Flood Insurance Coverage Flood insurance coverage under the NFIP may be purchased through an insurance agent who will obtain the policy either directly through the NFIP or through an insurance company that participates in the NFIP. Flood insurance that provides the [[Page 209]] same level of coverage as a standard flood insurance policy under the NFIP may be available from private insurers that do not participate in the NFIP. You should compare the flood insurance coverage, deductibles, exclusions, conditions, and premiums associated with flood insurance policies issued on behalf of the NFIP and policies issued on behalf of private insurance companies and contact an insurance agent as to the availability, cost, and comparisons of flood insurance coverage. [Escrow Requirement for Residential Loans Federal law may require a lender or its servicer to escrow all premiums and fees for flood insurance that covers any residential building or mobile home securing a loan that is located in an area with special flood hazards. If your lender notifies you that an escrow account is required for your loan, then you must pay your flood insurance premiums and fees to the lender or its servicer with the same frequency as you make loan payments for the duration of your loan. These premiums and fees will be deposited in the escrow account, which will be used to pay the flood insurance provider.] ____ Flood insurance coverage under the NFIP is not available for the property securing the loan because the community in which the property is located does not participate in the NFIP. In addition, if the non-participating community has been identified for at least one year as containing a special flood hazard area, properties located in the community will not be eligible for Federal disaster relief assistance in the event of a Federally declared flood disaster. Appendix B to Sec. 208.25--Sample Clause for Option to Escrow for Outstanding Loans Escrow Option Clause You have the option to escrow all premiums and fees for the payment on your flood insurance policy that covers any residential building or mobile home that is located in an area with special flood hazards and that secures your loan. If you choose this option: Your payments will be deposited in an escrow account to be paid to the flood insurance provider. The escrow amount for flood insurance will be added to the regular mortgage payment that you make to your lender or its servicer. The payments you make into the escrow account will accumulate over time and the funds will be used to pay your flood insurance policy when your lender or servicer receives a notice from your flood insurance provider that the flood insurance premium is due. To choose this option, follow the instructions below. If you have any questions about the option, contact [Insert Name of Lender or Servicer] at [Insert Contact Information]. [Insert Instructions for Selecting to Escrow] [Reg. H, 80 FR 43245, July 21, 2015, as amended at 80 FR 43247, July 21, 2015; 84 FR 4970, Feb. 20, 2019] Subpart C_Bank Securities and Securities-Related Activities Source: 63 FR 37646, July 13, 1998, unless otherwise noted. Sec. 208.30 Authority, purpose, and scope. (a) Authority. Subpart C of Regulation H (12 CFR part 208, subpart C) is issued by the Board of Governors of the Federal Reserve System under 12 U.S.C. 24, 92a, 93a; sections 1818 and 1831p-1(a)(2) of the FDI Act (12 U.S.C. 1818, 1831p-1(a)(2)); and sections 78b, 78l(b), 78l(g), 78l(i), 78o-4(c)(5), 78o-5, 78q, 78q-1, and 78w of the Securities Exchange Act of 1934 (15 U.S.C. 78b, 78l(b), 78l(g), 78l(i), 78o- 4(c)(5), 78o-5, 78q, 78q-1, 78w). (b) Purpose and scope. This subpart C describes the requirements imposed upon member banks acting as transfer agents, registered clearing agencies, or sellers of securities under the Securities Exchange Act of 1934. This subpart C also describes the reporting requirements imposed on member banks whose securities are subject to registration under the Securities Exchange Act of 1934. Sec. 208.31 State member banks as transfer agents. (a) The rules adopted by the Securities and Exchange Commission (SEC) pursuant to section 17A of the Securities Exchange Act of 1934 (15 U.S.C. 78q-l) prescribing procedures for registration of transfer agents for which the SEC is the appropriate regulatory agency (17 CFR 240.17Ac2-1) apply to member bank transfer agents. References to the ``Commission'' are deemed to refer to the Board. (b) The rules adopted by the SEC pursuant to section 17A prescribing operational and reporting requirements for transfer agents (17 CFR 240.17Ac2-2 and 240.17Ad-1 through 240.17Ad-16) apply to member bank transfer agents. [[Page 210]] Sec. 208.32 Notice of disciplinary sanctions imposed by registered clearing agency. (a) Notice requirement. Any member bank or any of its subsidiaries that is a registered clearing agency pursuant to section 17A(b) of the Securities Exchange Act of 1934 (the Act), and that: (1) Imposes any final disciplinary sanction on any participant therein; (2) Denies participation to any applicant; or (3) Prohibits or limits any person in respect to access to services offered by the clearing agency, shall file with the Board (and the appropriate regulatory agency, if other than the Board, for a participant or applicant) notice thereof in the manner prescribed in this section. (b) Notice of final disciplinary actions. (1) Any registered clearing agency for which the Board is the appropriate regulatory agency that takes any final disciplinary action with respect to any participant shall promptly file a notice thereof with the Board in accordance with paragraph (c) of this section. For the purposes of this paragraph (b), final disciplinary action means the imposition of any disciplinary sanction pursuant to section 17A(b)(3)(G) of the Act, or other action of a registered clearing agency which, after notice and opportunity for hearing, results in final disposition of charges of: (i) One or more violations of the rules of the registered clearing agency; or (ii) Acts or practices constituting a statutory disqualification of a type defined in paragraph (iv) or (v) (except prior convictions) of section 3(a)(39) of the Act. (2) However, if a registered clearing agency fee schedule specifies certain charges for errors made by its participants in giving instructions to the registered clearing agency which are de minimis on a per error basis, and whose purpose is, in part, to provide revenues to the clearing agency to compensate it for effort expended in beginning to process an erroneous instruction, such error charges shall not be considered a final disciplinary action for purposes of this paragraph (b). (c) Contents of final disciplinary action notice. Any notice filed pursuant to paragraph (b) of this section shall consist of the following, as appropriate: (1) The name of the respondent and the respondent's last known address, as reflected on the records of the clearing agency, and the name of the person, committee, or other organizational unit that brought the charges. However, identifying information as to any respondent found not to have violated a provision covered by a charge may be deleted insofar as the notice reports the disposition of that charge and, prior to the filing of the notice, the respondent does not request that identifying information be included in the notice; (2) A statement describing the investigative or other origin of the action; (3) As charged in the proceeding, the specific provision or provisions of the rules of the clearing agency violated by the respondent, or the statutory disqualification referred to in paragraph (b)(2) of this section, and a statement describing the answer of the respondent to the charges; (4) A statement setting forth findings of fact with respect to any act or practice in which the respondent was charged with having engaged in or omitted; the conclusion of the clearing agency as to whether the respondent violated any rule or was subject to a statutory disqualification as charged; and a statement of the clearing agency in support of its resolution of the principal issues raised in the proceedings; (5) A statement describing any sanction imposed, the reasons therefor, and the date upon which the sanction became or will become effective; and (6) Such other matters as the clearing agency may deem relevant. (d) Notice of final denial, prohibition, termination or limitation based on qualification or administrative rules. (1) Any registered clearing agency, for which the Board is the appropriate regulatory agency, that takes any final action that denies or conditions the participation of any person, or prohibits or limits access, to services offered by the clearing agency, shall promptly file notice thereof with the Board (and the appropriate regulatory agency, if other than the Board, for the affected person) in accordance with paragraph (e) of this section; but such action shall not [[Page 211]] be considered a final disciplinary action for purposes of paragraph (b) of this section where the action is based on an alleged failure of such person to: (i) Comply with the qualification standards prescribed by the rules of the registered clearing agency pursuant to section 17A(b)(4)(B) of the Act; or (ii) Comply with any administrative requirements of the registered clearing agency (including failure to pay entry or other dues or fees, or to file prescribed forms or reports) not involving charges of violations that may lead to a disciplinary sanction. (2) However, no such action shall be considered final pursuant to this paragraph (d) that results merely from a notice of such failure to comply to the person affected, if such person has not sought an adjudication of the matter, including a hearing, or otherwise exhausted the administrative remedies within the registered clearing agency with respect to such a matter. (e) Contents of notice required by paragraph (d) of this section. Any notice filed pursuant to paragraph (d) of this section shall consist of the following, as appropriate: (1) The name of each person concerned and each person's last known address, as reflected in the records of the clearing agency; (2) The specific grounds upon which the action of the clearing agency was based, and a statement describing the answer of the person concerned; (3) A statement setting forth findings of fact and conclusions as to each alleged failure of the person to comply with qualification standards or administrative obligations, and a statement of the clearing agency in support of its resolution of the principal issues raised in the proceeding; (4) The date upon which such action became or will become effective; and (5) Such other matters as the clearing agency deems relevant. (f) Notice of final action based on prior adjudicated statutory disqualifications. Any registered clearing agency for which the Board is the appropriate regulatory agency that takes any final action shall promptly file notice thereof with the Board (and the appropriate regulatory agency, if other than the Board, for the affected person) in accordance with paragraph (g) of this section, where the final action: (1) Denies or conditions participation to any person, or prohibits or limits access to services offered by the clearing agency; and (2) Is based upon a statutory disqualification of a type defined in paragraph (A), (B) or (C) of section 3(a)(39) of the Act, consisting of a prior conviction, as described in subparagraph (E) of section 3(a)(39) of the Act. However, no such action shall be considered final pursuant to this paragraph (f) that results merely from a notice of such disqualification to the person affected, if such person has not sought an adjudication of the matter, including a hearing, or otherwise exhausted the administrative remedies within the clearing agency with respect to such a matter. (g) Contents of notice required by paragraph (f) of this section. Any notice filed pursuant to paragraph (f) of this section shall consist of the following, as appropriate: (1) The name of each person concerned and each person's last known address, as reflected in the records of the clearing agency; (2) A statement setting forth the principal issues raised, the answer of any person concerned, and a statement of the clearing agency in support of its resolution of the principal issues raised in the proceeding; (3) Any description furnished by or on behalf of the person concerned of the activities engaged in by the person since the adjudication upon which the disqualification is based; (4) A copy of the order or decision of the court, appropriate regulatory agency, or self-regulatory organization that adjudicated the matter giving rise to the statutory disqualification; (5) The nature of the action taken and the date upon which such action is to be made effective; and (6) Such other matters as the clearing agency deems relevant. (h) Notice of summary suspension of participation. Any registered clearing agency for which the Board is the appropriate regulatory agency that summarily suspends or closes the accounts of a participant pursuant to the provisions of section 17A(b)(5)(C) of the Act [[Page 212]] shall, within one business day after such action becomes effective, file notice thereof with the Board and the appropriate regulatory agency for the participant, if other than the Board, of such action in accordance with paragraph (i) of this section. (i) Contents of notice of summary suspension. Any notice pursuant to paragraph (h) of this section shall contain at least the following information, as appropriate: (1) The name of the participant concerned and the participant's last known address, as reflected in the records of the clearing agency; (2) The date upon which the summary action became or will become effective; (3) If the summary action is based upon the provisions of section 17A(b)(5)(C)(i) of the Act, a copy of the relevant order or decision of the self-regulatory organization, if available to the clearing agency; (4) If the summary action is based upon the provisions of section 17A(b)(5)(C)(ii) of the Act, a statement describing the default of any delivery of funds or securities to the clearing agency; (5) If the summary action is based upon the provisions of section 17A(b)(5)(C)(iii) of the Act, a statement describing the financial or operating difficulty of the participant based upon which the clearing agency determined that the suspension and closing of accounts was necessary for the protection of the clearing agency, its participants, creditors, or investors; (6) The nature and effective date of the suspension; and (7) Such other matters as the clearing agency deems relevant. Sec. 208.33 Application for stay or review of disciplinary sanctions imposed by registered clearing agency. (a) Stays. The rules adopted by the Securities and Exchange Commission (SEC) pursuant to section 19 of the Securities Exchange Act of 1934 (15 U.S.C. 78s) regarding applications by persons for whom the SEC is the appropriate regulatory agency for stays of disciplinary sanctions or summary suspensions imposed by registered clearing agencies (17 CFR 240.19d-2) apply to applications by member banks. References to the ``Commission'' are deemed to refer to the Board. (b) Reviews. The regulations adopted by the Securities and Exchange Commission pursuant to section 19 of the Securities and Exchange Act of 1934 (15 U.S.C. 78s) regarding applications by persons for whom the SEC is the appropriate regulatory agency for reviews of final disciplinary sanctions, denials of participation, or prohibitions or limitations of access to services imposed by registered clearing agencies (17 CFR 240.19d-3(a)-(f)) apply to applications by member banks. References to the ``Commission'' are deemed to refer to the Board. The Board's Uniform Rules of Practice and Procedure (12 CFR part 263) apply to review proceedings under this Sec. 208.33 to the extent not inconsistent with this Sec. 208.33. Sec. 208.34 Recordkeeping and confirmation of certain securities transactions effected by State member banks. (a) Exceptions and safe and sound operations. (1) A State member bank may be excepted from one or more of the requirements of this section if it meets one of the following conditions of paragraphs (a)(1)(i) through (a)(1)(iv) of this section: (i) De minimis transactions. The requirements of paragraphs (c)(2) through (c)(4) and paragraphs (e)(1) through (e)(3) of this section shall not apply to banks having an average of less than 200 securities transactions per year for customers over the prior three calendar year period, exclusive of transactions in government securities; (ii) Government securities. The recordkeeping requirements of paragraph (c) of this section shall not apply to banks effecting fewer than 500 government securities brokerage transactions per year; provided that this exception shall not apply to government securities transactions by a State member bank that has filed a written notice, or is required to file notice, with the Federal Reserve Board that it acts as a government securities broker or a government securities dealer; (iii) Municipal securities. The municipal securities activities of a State member bank that are subject to regulations promulgated by the Municipal [[Page 213]] Securities Rulemaking Board shall not be subject to the requirements of this section; and (iv) Foreign branches. The requirements of this section shall not apply to the activities of foreign branches of a State member bank. (2) Every State member bank qualifying for an exemption under paragraph (a)(1) of this section that conducts securities transactions for customers shall, to ensure safe and sound operations, maintain effective systems of records and controls regarding its customer securities transactions that clearly and accurately reflect appropriate information and provide an adequate basis for an audit of the information. (b) Definitions. For purposes of this section: (1) Asset-backed security shall mean a security that is serviced primarily by the cash flows of a discrete pool of receivables or other financial assets, either fixed or revolving, that by their terms convert into cash within a finite time period plus any rights or other assets designed to assure the servicing or timely distribution of proceeds to the security holders. (2) Collective investment fund shall mean funds held by a State member bank as fiduciary and, consistent with local law, invested collectively as follows: (i) In a common trust fund maintained by such bank exclusively for the collective investment and reinvestment of monies contributed thereto by the bank in its capacity as trustee, executor, administrator, guardian, or custodian under the Uniform Gifts to Minors Act; or (ii) In a fund consisting solely of assets of retirement, pension, profit sharing, stock bonus or similar trusts which are exempt from Federal income taxation under the Internal Revenue Code (26 U.S.C.). (3) Completion of the transaction effected by or through a state member bank shall mean: (i) For purchase transactions, the time when the customer pays the bank any part of the purchase price (or the time when the bank makes the book-entry for any part of the purchase price if applicable); however, if the customer pays for the security prior to the time payment is requested or becomes due, then the transaction shall be completed when the bank transfers the security into the account of the customer; and (ii) For sale transactions, the time when the bank transfers the security out of the account of the customer or, if the security is not in the bank's custody, then the time when the security is delivered to the bank; however, if the customer delivers the security to the bank prior to the time delivery is requested or becomes due then the transaction shall be completed when the banks makes payment into the account of the customer. (4) Crossing of buy and sell orders shall mean a security transaction in which the same bank acts as agent for both the buyer and the seller. (5) Customer shall mean any person or account, including any agency, trust, estate, guardianship, or other fiduciary account, for which a State member bank effects or participates in effecting the purchase or sale of securities, but shall not include a broker, dealer, bank acting as a broker or dealer, municipal securities broker or dealer, or issuer of the securities which are the subject of the transactions. (6) Debt security as used in paragraph (c) of this section shall mean any security, such as a bond, debenture, note or any other similar instrument which evidences a liability of the issuer (including any security of this type that is convertible into stock or similar security) and fractional or participation interests in one or more of any of the foregoing; provided, however, that securities issued by an investment company registered under the Investment Company Act of 1940, 15 U.S.C. 80a-1 et seq., shall not be included in this definition. (7) Government security shall mean: (i) A security that is a direct obligation of, or obligation guaranteed as to principal and interest by, the United States; (ii) A security that is issued or guaranteed by a corporation in which the United States has a direct or indirect interest and which is designated by the Secretary of the Treasury for exemption as necessary or appropriate in the [[Page 214]] public interest or for the protection of investors; (iii) A security issued or guaranteed as to principal and interest by any corporation whose securities are designated, by statute specifically naming the corporation, to constitute exempt securities within the meaning of the laws administered by the Securities and Exchange Commission; or (iv) Any put, call, straddle, option, or privilege on a security as described in paragraphs (b)(7) (i), (ii), or (iii) of this section other than a put, call, straddle, option, or privilege that is traded on one or more national securities exchanges, or for which quotations are disseminated though an automated quotation system operated by a registered securities association. (8) Investment discretion with respect to an account shall mean if the State member bank, directly or indirectly, is authorized to determine what securities or other property shall be purchased or sold by or for the account, or makes decisions as to what securities or other property shall be purchased or sold by or for the account even though some other person may have responsibility for such investment decisions. (9) Municipal security shall mean a security which is a direct obligation of, or obligation guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in 26 U.S.C. 103(c)(2) the interest on which is excludable from gross income under 26 U.S.C. 103(a)(1), by reason of the application of paragraph (4) or (6) of 26 U.S.C. 103(c) (determined as if paragraphs (4)(A), (5) and (7) were not included in 26 U.S.C. 103(c)), paragraph (1) of 26 U.S.C. 103(c) does not apply to such security. (10) Periodic plan shall mean: (i) A written authorization for a State member bank to act as agent to purchase or sell for a customer a specific security or securities, in a specific amount (calculated in security units or dollars) or to the extent of dividends and funds available, at specific time intervals, and setting forth the commission or charges to be paid by the customer or the manner of calculating them (including dividend reinvestment plans, automatic investment plans, and employee stock purchase plans); or (ii) Any prearranged, automatic transfer or sweep of funds from a deposit account to purchase a security, or any prearranged, automatic redemption or sale of a security with the funds being transferred into a deposit account (including cash management sweep services). (11) Security shall mean: (i) Any note, stock, treasury stock, bond, debenture, certificate of interest or participation in any profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, for a security, any put, call, straddle, option, or privilege on any security, or group or index of securities (including any interest therein or based on the value thereof), any instrument commonly known as a ``security''; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing. (ii) But does not include a deposit or share account in a federally or state insured depository institution, a loan participation, a letter of credit or other form of bank indebtedness incurred in the ordinary course of business, currency, any note, draft, bill of exchange, or bankers acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited, units of a collective investment fund, interests in a variable amount (master) note of a borrower of prime credit, or U.S. Savings Bonds. (c) Recordkeeping. Except as provided in paragraph (a) of this section, every State member bank effecting securities transactions for customers, including transactions in government securities, and municipal securities transactions by banks not subject to registration as municipal securities dealers, shall maintain the following records with respect to such transactions for at least [[Page 215]] three years. Nothing contained in this section shall require a bank to maintain the records required by this paragraph in any given manner, provided that the information required to be shown is clearly and accurately reflected and provides an adequate basis for the audit of such information. Records may be maintained in hard copy, automated, or electronic form provided the records are easily retrievable, readily available for inspection, and capable of being reproduced in a hard copy. A bank may contract with third party service providers, including broker/dealers, to maintain records required under this part. (1) Chronological records of original entry containing an itemized daily record of all purchases and sales of securities. The records of original entry shall show the account or customer for which each such transaction was effected, the description of the securities, the unit and aggregate purchase or sale price (if any), the trade date and the name or other designation of the broker/dealer or other person from whom purchased or to whom sold; (2) Account records for each customer which shall reflect all purchases and sales of securities, all receipts and deliveries of securities, and all receipts and disbursements of cash with respect to transactions in securities for such account and all other debits and credits pertaining to transactions in securities; (3) A separate memorandum (order ticket) of each order to purchase or sell securities (whether executed or canceled), which shall include: (i) The account(s) for which the transaction was effected; (ii) Whether the transaction was a market order, limit order, or subject to special instructions; (iii) The time the order was received by the trader or other bank employee responsible for effecting the transaction; (iv) The time the order was placed with the broker/dealer, or if there was no broker/dealer, the time the order was executed or canceled; (v) The price at which the order was executed; and (vi) The broker/dealer utilized; (4) A record of all broker/dealers selected by the bank to effect securities transactions and the amount of commissions paid or allocated to each such broker during the calendar year; and (5) A copy of the written notification required by paragraphs (d) and (e) of this section. (d) Content and time of notification. Every State member bank effecting a securities transaction for a customer shall give or send to such customer either of the following types of notifications at or before completion of the transaction or; if the bank uses a broker/ dealer's confirmation, within one business day from the bank's receipt of the broker/dealer's confirmation: (1) A copy of the confirmation of a broker/dealer relating to the securities transaction; and if the bank is to receive remuneration from the customer or any other source in connection with the transaction, and the remuneration is not determined pursuant to a prior written agreement between the bank and the customer, a statement of the source and the amount of any remuneration to be received; or (2) A written notification disclosing: (i) The name of the bank; (ii) The name of the customer; (iii) Whether the bank is acting as agent for such customer, as agent for both such customer and some other person, as principal for its own account, or in any other capacity; (iv) The date of execution and a statement that the time of execution will be furnished within a reasonable time upon written request of such customer specifying the identity, price and number of shares or units (or principal amount in the case of debt securities) of such security purchased or sold by such customer; (v) The amount of any remuneration received or to be received, directly or indirectly, by any broker/dealer from such customer in connection with the transaction; (vi) The amount of any remuneration received or to be received by the bank from the customer and the source and amount of any other remuneration to be received by the bank in connection [[Page 216]] with the transaction, unless remuneration is determined pursuant to a written agreement between the bank and the customer, provided, however, in the case of Government securities and municipal securities, this paragraph (d)(2)(vi) shall apply only with respect to remuneration received by the bank in an agency transaction. If the bank elects not to disclose the source and amount of remuneration it has or will receive from a party other than the customer pursuant to this paragraph (d)(2)(vi), the written notification must disclose whether the bank has received or will receive remuneration from a party other than the customer, and that the bank will furnish within a reasonable time the source and amount of this remuneration upon written request of the customer. This election is not available, however, if, with respect to a purchase, the bank was participating in a distribution of that security; or with respect to a sale, the bank was participating in a tender offer for that security; (vii) The name of the broker/dealer utilized; or, where there is no broker/dealer, the name of the person from whom the security was purchased or to whom it was sold, or the fact that such information will be furnished within a reasonable time upon written request; (viii) In the case of a transaction in a debt security subject to redemption before maturity, a statement to the effect that the debt security may be redeemed in whole or in part before maturity, that the redemption could affect the yield represented and that additional information is available on request; (ix) In the case of a transaction in a debt security effected exclusively on the basis of a dollar price: (A) The dollar price at which the transaction was effected; (B) The yield to maturity calculated from the dollar price; provided, however, that this paragraph (c)(2)(ix)(B) shall not apply to a transaction in a debt security that either has a maturity date that may be extended by the issuer with a variable interest payable thereon, or is an asset-backed security that represents an interest in or is secured by a pool of receivables or other financial assets that are subject to continuous prepayment; (x) In the case of a transaction in a debt security effected on the basis of yield: (A) The yield at which the transaction was effected, including the percentage amount and its characterization (e.g., current yield, yield to maturity, or yield to call) and if effected at yield to call, the type of call, the call date, and the call price; and (B) The dollar price calculated from the yield at which the transaction was effected; and (C) If effected on a basis other than yield to maturity and the yield to maturity is lower than the represented yield, the yield to maturity as well as the represented yield; provided, however, that this paragraph (c)(2)(x)(C) shall not apply to a transaction in a debt security that either has a maturity date that may be extended by the issuer with a variable interest rate payable thereon, or is an asset- backed security that represents an interest in or is secured by a pool of receivables or other financial assets that are subject to continuous prepayment; (xi) In the case of a transaction in a debt security that is an asset-backed security which represents an interest in or is secured by a pool of receivables or other financial assets that are subject continuously to prepayment, a statement indicating that the actual yield of such asset-backed security may vary according to the rate at which the underlying receivables or other financial assets are prepaid and a statement of the fact that information concerning the factors that affect yield (including at a minimum, the estimated yield, weighted average life, and the prepayment assumptions underlying yield) will be furnished upon written request of such customer; and (xii) In the case of a transaction in a debt security, other than a government security, that the security is unrated by a nationally recognized statistical rating organization, if that is the case. (e) Notification by agreement; alternative forms and times of notification. A State member bank may elect to use the following alternative procedures if a transaction is effected for: [[Page 217]] (1) Accounts (except periodic plans) where the bank does not exercise investment discretion and the bank and the customer agree in writing to a different arrangement as to the time and content of the notification; provided, however, that such agreement makes clear the customer's right to receive the written notification pursuant to paragraph (c) of this section at no additional cost to the customer; (2) Accounts (except collective investment funds) where the bank exercises investment discretion in other than an agency capacity, in which instance the bank shall, upon request of the person having the power to terminate the account or, if there is no such person, upon the request of any person holding a vested beneficial interest in such account, give or send to such person the written notification within a reasonable time. The bank may charge such person a reasonable fee for providing this information; (3) Accounts, where the bank exercises investment discretion in an agency capacity, in which instance: (i) The bank shall give or send to each customer not less frequently than once every three months an itemized statement which shall specify the funds and securities in the custody or possession of the bank at the end of such period and all debits, credits and transactions in the customer's accounts during such period; and (ii) If requested by the customer, the bank shall give or send to each customer within a reasonable time the written notification described in paragraph (c) of this section. The bank may charge a reasonable fee for providing the information described in paragraph (c) of this section; (4) A collective investment fund, in which instance the bank shall at least annually furnish a copy of a financial report of the fund, or provide notice that a copy of such report is available and will be furnished upon request, to each person to whom a regular periodic accounting would ordinarily be rendered with respect to each participating account. This report shall be based upon an audit made by independent public accountants or internal auditors responsible only to the board of directors of the bank; (5) A periodic plan, in which instance the bank: (i) Shall (except for a cash management sweep service) give or send to the customer a written statement not less than every three months if there are no securities transactions in the account, showing the customer's funds and securities in the custody or possession of the bank; all service charges and commissions paid by the customer in connection with the transaction; and all other debits and credits of the customer's account involved in the transaction; or (ii) Shall for a cash management sweep service or similar periodic plan as defined in Sec. 208.34(b)(10)(ii) give or send its customer a written statement in the same form as prescribed in paragraph (e)(3) above for each month in which a purchase or sale of a security takes place in a deposit account and not less than once every three months if there are no securities transactions in the account subject to any other applicable laws or regulations; (6) Upon the written request of the customer the bank shall furnish the information described in paragraph (d) of this section, except that any such information relating to remuneration paid in connection with the transaction need not be provided to the customer when paid by a source other than the customer. The bank may charge a reasonable fee for providing the information described in paragraph (d) of this section. (f) Settlement of securities transactions. All contracts for the purchase or sale of a security shall provide for completion of the transaction within the number of business days in the standard settlement cycle for the security followed by registered broker dealers in the United States unless otherwise agreed to by the parties at the time of the transaction. (g) Securities trading policies and procedures. Every State member bank effecting securities transactions for customers shall establish written policies and procedures providing: (1) Assignment of responsibility for supervision of all officers or employees who: (i) Transmit orders to or place orders with broker/dealers; [[Page 218]] (ii) Execute transactions in securities for customers; or (iii) Process orders for notification and/or settlement purposes, or perform other back office functions with respect to securities transactions effected for customers; provided that procedures established under this paragraph (g)(1)(iii) should provide for supervision and reporting lines that are separate from supervision of personnel under paragraphs (g)(1)(i) and (g)(1)(ii) of this section; (2) For the fair and equitable allocation of securities and prices to accounts when orders for the same security are received at approximately the same time and are placed for execution either individually or in combination; (3) Where applicable and where permissible under local law, for the crossing of buy and sell orders on a fair and equitable basis to the parties to the transaction; and (4) That bank officers and employees who make investment recommendations or decisions for the accounts of customers, who participate in the determination of such recommendations or decisions, or who, in connection with their duties, obtain information concerning which securities are being purchased or sold or recommended for such action, must report to the bank, within ten days after the end of the calendar quarter, all transactions in securities made by them or on their behalf, either at the bank or elsewhere in which they have a beneficial interest. The report shall identify the securities purchased or sold and indicate the dates of the transactions and whether the transactions were purchases or sales. Excluded from this requirement are transactions for the benefit of the officer or employee over which the officer or employee has no direct or indirect influence or control, transactions in mutual fund shares, and all transactions involving in the aggregate $10,000 or less during the calendar quarter. For purposes of this paragraph (g)(4), the term securities does not include government securities. Sec. 208.35 Qualification requirements for transactions in certain securities. [Reserved] Sec. 208.36 Reporting requirements for State member banks subject to the Securities Exchange Act of 1934. (a) Filing, disclosure and other requirements--(1) General. Except as otherwise provided in this section, a member bank whose securities are subject to registration pursuant to section 12(b) or section 12(g) of the Securities Exchange Act of 1934 (the 1934 Act) (15 U.S.C. 78l(b) and (g)) shall comply with the rules, regulations and forms adopted by the Securities and Exchange Commission (Commission) pursuant to-- (i) Sections 10A(m), 12, 13, 14(a), 14(c), 14(d), 14(f) and 16 of the 1934 Act (15 U.S.C. 78f(m), 78l, 78m, 78n(a), (c), (d) and (f), and 78p); and (ii) Sections 302, 303, 304, 306, 401(b), 404, 406 and 407 of the Sarbanes-Oxley Act of 2002 (codified at 15 U.S.C. 7241, 7242, 7243, 7244, 7261, 7262, 7264 and 7265). (2) References to the Commission. Any references to the ``Securities and Exchange Commission'' or the ``Commission'' in the rules, regulations and forms described in paragraph (a)(1) of this section shall with respect to securities issued by member banks be deemed to refer to the Board unless the context otherwise requires. (b) Elections permitted for member banks with total assets of $150 million or less. (1) Notwithstanding paragraph (a) of this section or the rules and regulations promulgated by the Commission pursuant to the 1934 Act a member bank that has total assets of $150 million or less as of the end of its most recent fiscal year, and no foreign offices, may elect to substitute for the financial statements required by the Commission's Form 10-Q, the balance sheet and income statement from the quarterly report of condition required to be filed by the bank with the Board under section 9 of the Federal Reserve Act (12 U.S.C. 324) (Federal Financial Institutions Examination Council Form 033 or 034). (2) A member bank qualifying for and electing to file financial statements from its quarterly report of condition [[Page 219]] pursuant to paragraph (b)(1) of this section in its form 10-Q shall include earnings per share or net loss per share data prepared in accordance with GAAP and disclose any material contingencies, as required by Article 10 of the Commission's Regulation S-X (17 CFR 210.10-01), in the Management's Discussion and Analysis of Financial Condition and Results of Operations section of Form 10-Q. (3) Notwithstanding paragraph (b)(1) of this section, a member bank may, from December 2, 2020, through December 31, 2021, make the election described in paragraph (b)(1) of this section if it has no foreign offices and had total assets of $150 million or less, determined based on the lesser of total assets as of December 31, 2019, and total assets as of the end of the bank's most recent fiscal year. The relief provided under this paragraph (b)(3) of this section does not apply to a member bank if the Board determines that permitting the member bank to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the member bank. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the member bank since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the member bank has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the member bank. In making a determination pursuant to this paragraph (b)(3), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (c) Required filings--(1) Place and timing of filing. All papers required to be filed with the Board, pursuant to the 1934 Act or regulations thereunder, shall be submitted to the Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, NW., Washington, DC 20551. Material may be filed by delivery to the Board, through the mails, or otherwise. The date on which papers are actually received by the Board shall be the date of filing thereof if all of the requirements with respect to the filing have been complied with. (2) Filing fees. No filing fees specified by the Commission's rules shall be paid to the Board. (3) Public inspection. Copies of the registration statement, definitive proxy solicitation materials, reports, and annual reports to shareholders required by this section (exclusive of exhibits) shall be available for public inspection at the Board's offices in Washington, DC, as well as at the Federal Reserve Banks of New York, Chicago, and San Francisco and at the Reserve Bank in the district in which the reporting bank is located. (d) Confidentiality of filing. Any person filing any statement, report, or document under the 1934 Act may make written objection to the public disclosure of any information contained therein in accordance with the following procedure: (1) The person shall omit from the statement, report, or document, when it is filed, the portion thereof that the person desires to keep undisclosed (hereinafter called the confidential portion). The person shall indicate at the appropriate place in the statement, report, or document that the confidential portion has been omitted and filed separately with the Board. (2) The person shall file the following with the copies of the statement, report, or document filed with the Board: (i) As many copies of the confidential portion, each clearly marked ``CONFIDENTIAL TREATMENT,'' as there are copies of the statement, report, or document filed with the Board. Each copy of the confidential portion shall contain the complete text of the item and, notwithstanding that the confidential portion does not constitute the whole of the answer, the entire answer thereto; except that in case the confidential portion is part of a financial statement or schedule, only the particular financial statement or schedule need be included. All copies of the confidential portion shall be in the same form as the remainder of the statement, report, or document; and [[Page 220]] (ii) An application making objection to the disclosure of the confidential portion. The application shall be on a sheet or sheets separate from the confidential portion, and shall: (A) Identify the portion of the statement, report, or document that has been omitted; (B) Include a statement of the grounds of objection; and (C) Include the name of each exchange, if any, with which the statement, report, or document is filed. (3) The copies of the confidential portion and the application filed in accordance with this paragraph shall be enclosed in a separate envelope marked ``CONFIDENTIAL TREATMENT,'' and addressed to Secretary, Board of Governors of the Federal Reserve System, Washington, DC 20551. (4) Pending determination by the Board on the objection filed in accordance with this paragraph, the confidential portion shall not be disclosed by the Board. (5) If the Board determines to sustain the objection, a notation to that effect shall be made at the appropriate place in the statement, report, or document. (6) If the Board determines not to sustain the objection because disclosure of the confidential portion is in the public interest, a finding and determination to that effect shall be entered and notice of the finding and determination sent by registered or certified mail to the person. (7) If the Board determines not to sustain the objection, pursuant to paragraph (d)(6) of this section, the confidential portion shall be made available to the public: (i) 15 days after notice of the Board's determination not to sustain the objection has been given, as required by paragraph (d)(6) of this section, provided that the person filing the objection has not previously filed with the Board a written statement that he intends, in good faith, to seek judicial review of the finding and determination; or (ii) 60 days after notice of the Board's determination not to sustain the objection has been given as required by paragraph (d)(6) of this section and the person filing the objection has filed with the Board a written statement of intent to seek judicial review of the finding and determination, but has failed to file a petition for judicial review of the Board's determination; or (iii) Upon final judicial determination, if adverse to the party filing the objection. (8) If the confidential portion is made available to the public, a copy thereof shall be attached to each copy of the statement, report, or document filed with the Board. [63 FR 37646, July 13, 1998, as amended at 67 FR 57941, Sept. 13, 2002; 68 FR 4096, Jan. 28, 2003; 85 FR 77360, Dec. 2, 2020] Sec. 208.37 Government securities sales practices. (a) Scope. This subpart is applicable to state member banks that have filed notice as, or are required to file notice as, government securities brokers or dealers pursuant to section 15C of the Securities Exchange Act (15 U.S.C. 78o-5) and Department of the Treasury rules under section 15C (17 CFR 400.1(d) and part 401). (b) Definitions. For purposes of this section: (1) Bank that is a government securities broker or dealer means a state member bank that has filed notice, or is required to file notice, as a government securities broker or dealer pursuant to section 15C of the Securities Exchange Act (15 U.S.C. 78o-5) and Department of the Treasury rules under section 15C (17 CFR 400.1(d) and Part 401). (2) Customer does not include a broker or dealer or a government securities broker or dealer. (3) Government security has the same meaning as this term has in section 3(a)(42) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(42)). (4) Non-institutional customer means any customer other than: (i) A bank, savings association, insurance company, or registered investment company; (ii) An investment adviser registered under section 203 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-3); or (iii) Any entity (whether a natural person, corporation, partnership, trust, or otherwise) with total assets of at least $50 million. (c) Business conduct. A bank that is a government securities broker or dealer [[Page 221]] shall observe high standards of commercial honor and just and equitable principles of trade in the conduct of its business as a government securities broker or dealer. (d) Recommendations to customers. In recommending to a customer the purchase, sale or exchange of a government security, a bank that is a government securities broker or dealer shall have reasonable grounds for believing that the recommendation is suitable for the customer upon the basis of the facts, if any, disclosed by the customer as to the customer's other security holdings and as to the customer's financial situation and needs. (e) Customer information. Prior to the execution of a transaction recommended to a non-institutional customer, a bank that is a government securities broker or dealer shall make reasonable efforts to obtain information concerning: (1) The customer's financial status; (2) The customer's tax status; (3) The customer's investment objectives; and (4) Such other information used or considered to be reasonable by the bank in making recommendations to the customer. Subpart D_Prompt Corrective Action Source: 63 FR 37652, July 13, 1998, unless otherwise noted. Sec. 208.40 Authority, purpose, scope, other supervisory authority, and disclosure of capital categories. (a) Authority. Subpart D of Regulation H (12 CFR part 208, Subpart D) is issued by the Board of Governors of the Federal Reserve System (Board) under section 38 (section 38) of the FDI Act as added by section 131 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (Pub. L. 102-242, 105 Stat. 2236 (1991)) (12 U.S.C. 1831o). (b) Purpose and scope. This subpart D defines the capital measures and capital levels that are used for determining the supervisory actions authorized under section 38 of the FDI Act. (Section 38 of the FDI Act establishes a framework of supervisory actions for insured depository institutions that are not adequately capitalized.) This subpart also establishes procedures for submission and review of capital restoration plans and for issuance and review of directives and orders pursuant to section 38. Certain of the provisions of this subpart apply to officers, directors, and employees of state member banks. Other provisions apply to any company that controls a member bank and to the affiliates of the member bank. (c) Other supervisory authority. Neither section 38 nor this subpart in any way limits the authority of the Board under any other provision of law to take supervisory actions to address unsafe or unsound practices or conditions, deficient capital levels, violations of law, or other practices. Action under section 38 of the FDI Act and this subpart may be taken independently of, in conjunction with, or in addition to any other enforcement action available to the Board, including issuance of cease and desist orders, capital directives, approval or denial of applications or notices, assessment of civil money penalties, or any other actions authorized by law. (d) Disclosure of capital categories. The assignment of a bank under this subpart within a particular capital category is for purposes of implementing and applying the provisions of section 38. Unless permitted by the Board or otherwise required by law, no bank may state in any advertisement or promotional material its capital category under this subpart or that the Board or any other Federal banking agency has assigned the bank to a particular capital category. (e) Timing. The calculation of the definitions of common equity tier 1 capital, the common equity tier 1 risk-based capital ratio, the leverage ratio, the supplementary leverage ratio, tangible equity, tier 1 capital, the tier 1 risk-based capital ratio, total assets, total leverage exposure, the total risk-based capital ratio, and total risk- weighted assets under this subpart is subject to the timing provisions at 12 CFR 217.1(f) and the transitions at 12 CFR part 217, subpart G. [63 FR 37652, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] [[Page 222]] Sec. 208.41 Definitions for purposes of this subpart. For purposes of this subpart, except as modified in this section or unless the context otherwise requires, the terms used have the same meanings as set forth in section 38 and section 3 of the FDI Act. (a) Advanced approaches bank means a bank that is described in Sec. 217.100(b)(1) of Regulation Q (12 CFR 217.100(b)(1)). (b) Bank means an insured depository institution as defined in section 3 of the FDI Act (12 U.S.C. 1813). (c) Common equity tier 1 capital means the amount of capital as defined in Sec. 217.2 of Regulation Q (12 CFR 217.2). (d) Common equity tier 1 risk-based capital ratio means the ratio of common equity tier 1 capital to total risk-weighted assets, as calculated in accordance with Sec. 217.10(b)(1) or Sec. 217.10(c)(1) of Regulation Q (12 CFR 217.10(b)(1), 12 CFR 217.10(c)(1)), as applicable. (e) Control--(1) Control has the same meaning assigned to it in section 2 of the Bank Holding Company Act (12 U.S.C. 1841), and the term controlled shall be construed consistently with the term control. (2) Exclusion for fiduciary ownership. No insured depository institution or company controls another insured depository institution or company by virtue of its ownership or control of shares in a fiduciary capacity. Shares shall not be deemed to have been acquired in a fiduciary capacity if the acquiring insured depository institution or company has sole discretionary authority to exercise voting rights with respect to the shares. (3) Exclusion for debts previously contracted. No insured depository institution or company controls another insured depository institution or company by virtue of its ownership or control of shares acquired in securing or collecting a debt previously contracted in good faith, until two years after the date of acquisition. The two-year period may be extended at the discretion of the appropriate Federal banking agency for up to three one-year periods. (f) Controlling person means any person having control of an insured depository institution and any company controlled by that person. (g) Global systemically important BHC has the same meaning as in Sec. 217.2 of Regulation Q (12 CFR 217.2). (h) Leverage ratio means the ratio of tier 1 capital to average total consolidated assets, as calculated in accordance with Sec. 217.10 of Regulation Q (12 CFR 217.10). (i) Management fee means any payment of money or provision of any other thing of value to a company or individual for the provision of management services or advice to the bank, or related overhead expenses, including payments related to supervisory, executive, managerial, or policy making functions, other than compensation to an individual in the individual's capacity as an officer or employee of the bank. (j) Supplementary leverage ratio means the ratio of tier 1 capital to total leverage exposure, as calculated in accordance with Sec. 217.10 of Regulation Q (12 CFR 217.10). (k) Tangible equity means the amount of tier 1 capital, plus the amount of outstanding perpetual preferred stock (including related surplus) not included in tier 1 capital. (l) Tier 1 capital means the amount of capital as defined in Sec. 217.20 of Regulation Q (12 CFR 217.20). (m) Tier 1 risk-based capital ratio means the ratio of tier 1 capital to total risk-weighted assets, as calculated in accordance with Sec. 217.10(b)(2) or Sec. 217.10(c)(2) of Regulation Q (12 CFR 217.10(b)(2), 12 CFR 217.10(c)(2)), as applicable. (n) Total assets means quarterly average total assets as reported in a bank's Call Report, minus items deducted from tier 1 capital. At its discretion the Federal Reserve may calculate total assets using a bank's period-end assets rather than quarterly average assets. (o) Total leverage exposure means the total leverage exposure, as calculated in accordance with Sec. 217.11 of Regulation Q (12 CFR 217.11). (p) Total risk-based capital ratio means the ratio of total capital to total risk-weighted assets, as calculated in accordance with Sec. 217.10(b)(3) or Sec. 217.10(c)(3) of Regulation Q (12 CFR [[Page 223]] 217.10(b)(3), 12 CFR 217.10(c)(3)), as applicable. (q) Total risk-weighted assets means standardized total risk- weighted assets, and for an advanced approaches bank also includes advanced approaches total risk-weighted assets, as defined in Sec. 217.2 of Regulation Q (12 CFR 217.2). [Regulation H, 78 FR 62282, Oct. 11, 2013, as amended at 80 FR 49102, Aug. 14, 2015; 80 FR 70672, Nov. 16, 2015] Sec. 208.42 Notice of capital category. (a) Effective date of determination of capital category. A member bank shall be deemed to be within a given capital category for purposes of section 38 of the FDI Act and this subpart as of the date the bank is notified of, or is deemed to have notice of, its capital category, pursuant to paragraph (b) of this section. (b) Notice of capital category. A member bank shall be deemed to have been notified of its capital levels and its capital category as of the most recent date: (1) A Report of Condition and Income (Call Report) is required to be filed with the Board; (2) A final report of examination is delivered to the bank; or (3) Written notice is provided by the Board to the bank of its capital category for purposes of section 38 of the FDI Act and this subpart or that the bank's capital category has changed as provided in paragraph (c) of this section or Sec. 208.43(c). (c) Adjustments to reported capital levels and capital category--(1) Notice of adjustment by bank. A member bank shall provide the Board with written notice that an adjustment to the bank's capital category may have occurred no later than 15 calendar days following the date that any material event occurred that would cause the bank to be placed in a lower capital category from the category assigned to the bank for purposes of section 38 and this subpart on the basis of the bank's most recent Call Report or report of examination. (2) Determination by Board to change capital category. After receiving notice pursuant to paragraph (c)(1) of this section, the Board shall determine whether to change the capital category of the bank and shall notify the bank of the Board's determination. Sec. 208.43 Capital measures and capital category definitions. (a) Capital measures. (1) For purposes of section 38 of the FDI Act and this subpart, the relevant capital measures are: (i) Total Risk-Based Capital Measure: The total risk-based capital ratio; (ii) Tier 1 Risk-Based Capital Measure: The tier 1 risk-based capital ratio; (iii) Common Equity Tier 1 Capital Measure: The common equity tier 1 risk-based capital ratio; and (iv) Leverage Measure: (A) The leverage ratio; and (B) With respect to an advanced approaches bank, on January 1, 2018, and thereafter, the supplementary leverage ratio. (C) With respect to any bank that is a subsidiary (as defined in Sec. 217.2 of this chapter) of a global systemically important BHC, on Jan. 1, 2018, and thereafter, the supplementary leverage ratio. (2) For a qualifying community banking organization (as defined in Sec. 217.12 of this chapter), that has elected to use the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), the leverage ratio calculated in accordance with Sec. 217.12(b) of this chapter is used to determine the well capitalized capital category under paragraph (b)(1)(i)(A) through (D) of this section. (b) Capital categories. For purposes of section 38 of the FDI Act and this subpart, a member bank is deemed to be: (1)(i) ``Well capitalized'' if: (A) Total Risk-Based Capital Measure: The bank has a total risk- based capital ratio of 10.0 percent or greater; and (B) Tier 1 Risk-Based Capital Measure: The bank has a tier 1 risk- based capital ratio of 8.0 percent or greater; and (C) Common Equity Tier 1 Capital Measure: The bank has a common equity tier 1 risk-based capital ratio of 6.5 percent or greater; and (D) Leverage Measure: (1) The bank has a leverage ratio of 5.0 percent or greater; and [[Page 224]] (2) Beginning on January 1, 2018, with respect to any bank that is a subsidiary of a global systemically important BHC under the definition of ``subsidiary'' in Sec. 217.2 of this chapter, the bank has a supplementary leverage ratio of 6.0 percent or greater; and (E) The bank is not subject to any written agreement, order, capital directive, or prompt corrective action directive issued by the Board pursuant to section 8 of the FDI Act, the International Lending Supervision Act of 1983 (12 U.S.C. 3907), or section 38 of the FDI Act, or any regulation thereunder, to meet and maintain a specific capital level for any capital measure. (ii) A qualifying community banking organization, as defined in Sec. 217.12 of this chapter, that has elected to use the community bank leverage ratio framework under Sec. 217.12 of this chapter, shall be considered to have met the capital ratio requirements for the well capitalized capital category in paragraph (b)(1)(i)(A) through (D) of this section. (2) ``Adequately capitalized'' if: (i) Total Risk-Based Capital Measure: the bank has a total risk- based capital ratio of 8.0 percent or greater; (ii) Tier 1 Risk-Based Capital Measure: the bank has a tier 1 risk- based capital ratio of 6.0 percent or greater; (iii) Common Equity Tier 1 Capital Measure: the bank has a common equity tier 1 risk-based capital ratio of 4.5 percent or greater; (iv) Leverage Measure: (A) The bank has a leverage ratio of 4.0 percent or greater; and (B) With respect to an advanced approaches bank or bank that is a Category III Board-regulated institution (as defined in Sec. 217.2 of this chapter), the bank has a supplementary leverage ratio of 3.0 percent or greater; and (v) The bank does not meet the definition of a ``well capitalized'' bank. (3) ``Undercapitalized'' if: (i) Total Risk-Based Capital Measure: the bank has a total risk- based capital ratio of less than 8.0 percent; (ii) Tier 1 Risk-Based Capital Measure: the bank has a tier 1 risk- based capital ratio of less than 6.0 percent; (iii) Common Equity Tier 1 Capital Measure: the bank has a common equity tier 1 risk-based capital ratio of less than 4.5 percent; or (iv) Leverage Measure: (A) The bank has a leverage ratio of less than 4.0 percent; or (B) With respect to an advanced approaches bank or bank that is a Category III Board-regulated institution (as defined in Sec. 217.2 of this chapter), the bank has a supplementary leverage ratio of less than 3.0 percent. (4) ``Significantly undercapitalized'' if: (i) Total Risk-Based Capital Measure: the bank has a total risk- based capital ratio of less than 6.0 percent; (ii) Tier 1 Risk-Based Capital Measure: the bank has a tier 1 risk- based capital ratio of less than 4.0 percent; (iii) Common Equity Tier 1 Capital Measure: the bank has a common equity tier 1 risk-based capital ratio of less than 3.0 percent; or (iv) Leverage Measure: the bank has a leverage ratio of less than 3.0 percent. (5) ``Critically undercapitalized'' if the bank has a ratio of tangible equity to total assets that is equal to or less than 2.0 percent. (c) Reclassification based on supervisory criteria other than capital. The Board may reclassify a well capitalized member bank as adequately capitalized and may require an adequately-capitalized or an undercapitalized member bank to comply with certain mandatory or discretionary supervisory actions as if the bank were in the next lower capital category (except that the Board may not reclassify a significantly undercapitalized bank as critically undercapitalized) (each of these actions are hereinafter referred to generally as ``reclassifications'') in the following circumstances: (1) Unsafe or unsound condition. The Board has determined, after notice and opportunity for hearing pursuant to 12 CFR 263.203, that the bank is in unsafe or unsound condition; or (2) Unsafe or unsound practice. The Board has determined, after notice and opportunity for hearing pursuant to 12 CFR 263.203, that, in the most recent examination of the bank, the bank received and has not corrected, a less-than-satisfactory rating for any of the [[Page 225]] categories of asset quality, management, earnings, liquidity, or sensitivity to market risk. [63 FR 37652, July 13, 1998, as amended by Reg. H, 78 FR 62283, Oct. 11, 2013; 79 FR 24540, May 1, 2014; 80 FR 49102, Aug. 14, 2015; 80 FR 70672, Nov. 16, 2015; 84 FR 61796, Nov. 13, 2019; 84 FR 70887, Dec. 26, 2019; 85 FR 32989, June 1, 2020] Sec. 208.44 Capital restoration plans. (a) Schedule for filing plan--(1) In general. A member bank shall file a written capital restoration plan with the appropriate Reserve Bank within 45 days of the date that the bank receives notice or is deemed to have notice that the bank is undercapitalized, significantly undercapitalized, or critically undercapitalized, unless the Board notifies the bank in writing that the plan is to be filed within a different period. An adequately capitalized bank that has been required, pursuant to Sec. 208.43(c), to comply with supervisory actions as if the bank were undercapitalized is not required to submit a capital restoration plan solely by virtue of the reclassification. (2) Additional capital restoration plans. Notwithstanding paragraph (a)(1) of this section, a bank that has already submitted and is operating under a capital restoration plan approved under section 38 and this subpart is not required to submit an additional capital restoration plan based on a revised calculation of its capital measures or a reclassification of the institution under Sec. 208.43(c), unless the Board notifies the bank that it must submit a new or revised capital plan. A bank that is notified that it must submit a new or revised capital restoration plan shall file the plan in writing with the appropriate Reserve Bank within 45 days of receiving such notice, unless the Board notifies the bank in writing that the plan is to be filed within a different period. (b) Contents of plan. All financial data submitted in connection with a capital restoration plan shall be prepared in accordance with the instructions provided on the Call Report, unless the Board instructs otherwise. The capital restoration plan shall include all of the information required to be filed under section 38(e)(2) of the FDI Act. A bank that is required to submit a capital restoration plan as the result of a reclassification of the bank pursuant to Sec. 208.43(c) shall include a description of the steps the bank will take to correct the unsafe or unsound condition or practice. No plan shall be accepted unless it includes any performance guarantee described in section 38(e)(2)(C) of that Act by each company that controls the bank. (c) Review of capital restoration plans. Within 60 days after receiving a capital restoration plan under this subpart, the Board shall provide written notice to the bank of whether the plan has been approved. The Board may extend the time within which notice regarding approval of a plan shall be provided. (d) Disapproval of capital plan. If the Board does not approve a capital restoration plan, the bank shall submit a revised capital restoration plan within the time specified by the Board. Upon receiving notice that its capital restoration plan has not been approved, any undercapitalized member bank (as defined in Sec. 208.43(b)(3)) shall be subject to all of the provisions of section 38 and this subpart applicable to significantly undercapitalized institutions. These provisions shall be applicable until such time as the Board approves a new or revised capital restoration plan submitted by the bank. (e) Failure to submit capital restoration plan. A member bank that is undercapitalized (as defined in Sec. 208.43(b)(3)) and that fails to submit a written capital restoration plan within the period provided in this section shall, upon the expiration of that period, be subject to all of the provisions of section 38 and this subpart applicable to significantly undercapitalized institutions. (f) Failure to implement capital restoration plan. Any undercapitalized member bank that fails in any material respect to implement a capital restoration plan shall be subject to all of the provisions of section 38 and this subpart applicable to significantly undercapitalized institutions. (g) Amendment of capital plan. A bank that has filed an approved capital restoration plan may, after prior written notice to and approval by the Board, amend the plan to reflect a change in [[Page 226]] circumstance. Until such time as a proposed amendment has been approved, the bank shall implement the capital restoration plan as approved prior to the proposed amendment. (h) Notice to FDIC. Within 45 days of the effective date of Board approval of a capital restoration plan, or any amendment to a capital restoration plan, the Board shall provide a copy of the plan or amendment to the Federal Deposit Insurance Corporation. (i) Performance guarantee by companies that control a bank--(1) Limitation on Liability--(i) Amount limitation. The aggregate liability under the guarantee provided under section 38 and this subpart for all companies that control a specific member bank that is required to submit a capital restoration plan under this subpart shall be limited to the lesser of: (A) An amount equal to 5.0 percent of the bank's total assets at the time the bank was notified or deemed to have notice that the bank was undercapitalized; or (B) The amount necessary to restore the relevant capital measures of the bank to the levels required for the bank to be classified as adequately capitalized, as those capital measures and levels are defined at the time that the bank initially fails to comply with a capital restoration plan under this subpart. (ii) Limit on duration. The guarantee and limit of liability under section 38 and this subpart shall expire after the Board notifies the bank that it has remained adequately capitalized for each of four consecutive calendar quarters. The expiration or fulfillment by a company of a guarantee of a capital restoration plan shall not limit the liability of the company under any guarantee required or provided in connection with any capital restoration plan filed by the same bank after expiration of the first guarantee. (iii) Collection on guarantee. Each company that controls a bank shall be jointly and severally liable for the guarantee for such bank as required under section 38 and this subpart, and the Board may require and collect payment of the full amount of that guarantee from any or all of the companies issuing the guarantee. (2) Failure to provide guarantee. In the event that a bank that is controlled by a company submits a capital restoration plan that does not contain the guarantee required under section 38(e)(2) of the FDI Act, the bank shall, upon submission of the plan, be subject to the provisions of section 38 and this subpart that are applicable to banks that have not submitted an acceptable capital restoration plan. (3) Failure to perform guarantee. Failure by any company that controls a bank to perform fully its guarantee of any capital plan shall constitute a material failure to implement the plan for purposes of section 38(f) of the FDI Act. Upon such failure, the bank shall be subject to the provisions of section 38 and this subpart that are applicable to banks that have failed in a material respect to implement a capital restoration plan. Sec. 208.45 Mandatory and discretionary supervisory actions under section 38. (a) Mandatory supervisory actions--(1) Provisions applicable to all banks. All member banks are subject to the restrictions contained in section 38(d) of the FDI Act on payment of capital distributions and management fees. (2) Provisions applicable to undercapitalized, significantly undercapitalized, and critically undercapitalized banks. Immediately upon receiving notice or being deemed to have notice, as provided in Sec. 208.42 or Sec. 208.44, that the bank is undercapitalized, significantly undercapitalized, or critically undercapitalized, the bank shall become subject to the provisions of section 38 of the FDI Act: (i) Restricting payment of capital distributions and management fees (section 38(d)); (ii) Requiring that the Board monitor the condition of the bank (section 38(e)(1)); (iii) Requiring submission of a capital restoration plan within the schedule established in this subpart (section 38(e)(2)); (iv) Restricting the growth of the bank's assets (section 38(e)(3)); and (v) Requiring prior approval of certain expansion proposals (section 3(e)(4)). [[Page 227]] (3) Additional provisions applicable to significantly undercapitalized, and critically undercapitalized banks. In addition to the provisions of section 38 of the FDI Act described in paragraph (a)(2) of this section, immediately upon receiving notice or being deemed to have notice, as provided in Sec. 208.42 or Sec. 208.44, that the bank is significantly undercapitalized, or critically undercapitalized, or that the bank is subject to the provisions applicable to institutions that are significantly undercapitalized because the bank failed to submit or implement in any material respect an acceptable capital restoration plan, the bank shall become subject to the provisions of section 38 of the FDI Act that restrict compensation paid to senior executive officers of the institution (section 38(f)(4)). (4) Additional provisions applicable to critically undercapitalized banks. In addition to the provisions of section 38 of the FDI Act described in paragraphs (a)(2) and (a)(3) of this section, immediately upon receiving notice or being deemed to have notice, as provided in Sec. 208.32, that the bank is critically undercapitalized, the bank shall become subject to the provisions of section 38 of the FDI Act: (i) Restricting the activities of the bank (section 38(h)(1)); and (ii) Restricting payments on subordinated debt of the bank (section 38(h)(2)). (b) Discretionary supervisory actions. In taking any action under section 38 that is within the Board's discretion to take in connection with: A member bank that is deemed to be undercapitalized, significantly undercapitalized, or critically undercapitalized, or has been reclassified as undercapitalized, or significantly undercapitalized; an officer or director of such bank; or a company that controls such bank, the Board shall follow the procedures for issuing directives under 12 CFR 263.202 and 263.204, unless otherwise provided in section 38 or this subpart. Subpart E_Real Estate Lending, Appraisal Standards, and Minimum Requirements for Appraisal Management Companies Sec. 208.50 Authority, purpose, and scope. (a) Authority. Subpart E of Regulation H (12 CFR part 208, subpart E) is issued by the Board of Governors of the Federal Reserve System pursuant to section 304 of the Federal Deposit Insurance Corporation Improvement Act of 1991, (12 U.S.C 1828(o)), Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act, (12 U.S.C 3331- 3351), and section 1473 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, (12 U.S.C. 3353). (b) Purpose and scope. This subpart prescribes standards for real estate lending to be used by state member banks in adopting internal real estate lending policies. The standards applicable to appraisals rendered in connection with Federally related transactions entered into by member banks and the minimum requirements for appraisal management companies are set forth in 12 CFR part 225, subparts G and M respectively (Regulation Y). [80 FR 32681, June 9, 2015] Sec. 208.51 Real estate lending standards. (a) Adoption of written policies. Each state bank that is a member of the Federal Reserve System shall adopt and maintain written policies that establish appropriate limits and standards for extensions of credit that are secured by liens on or interests in real estate, or that are made for the purpose of financing permanent improvements to real estate. (b) Requirements of lending policies. (1) Real estate lending policies adopted pursuant to this section shall be: (i) Consistent with safe and sound banking practices; (ii) Appropriate to the size of the institution and the nature and scope of its operations; and (iii) Reviewed and approved by the bank's board of directors at least annually. (2) The lending policies shall establish: [[Page 228]] (i) Loan portfolio diversification standards; (ii) Prudent underwriting standards, including loan-to-value limits, that are clear and measurable; (iii) Loan administration procedures for the bank's real estate portfolio; and (iv) Documentation, approval, and reporting requirements to monitor compliance with the bank's real estate lending policies. (c) Monitoring conditions. Each member bank shall monitor conditions in the real estate market in its lending area to ensure that its real estate lending policies continue to be appropriate for current market conditions. (d) Interagency guidelines. The real estate lending policies adopted pursuant to this section should reflect consideration of the Interagency Guidelines for Real Estate Lending Policies (contained in appendix C of this part) established by the Federal bank and thrift supervisory agencies. Subpart F_Miscellaneous Requirements Source: 63 FR 37655, July 13, 1998, unless otherwise noted. Sec. 208.60 Authority, purpose, and scope. (a) Authority. Subpart F of Regulation H (12 CFR part 208, subpart F) is issued by the Board of Governors of the Federal Reserve System under sections 9, 11, 21, 25 and 25A of the Federal Reserve Act (12 U.S.C. 321-338a, 248(a), 248(c), 481-486, 601 and 611), section 7 of the International Banking Act (12 U.S.C. 3105), section 3 of the Bank Protection Act of 1968 (12 U.S.C. 1882), sections 1814, 1816, 1818, 1831o, 1831p-1 and 1831r-1 of the FDI Act (12 U.S.C. 1814, 1816, 1818, 1831o, 1831p-1 and 1831r-1), and the Bank Secrecy Act (31 U.S.C. 5318). (b) Purpose and scope. This subpart F describes a member bank's obligation to implement security procedures to discourage certain crimes, to file suspicious activity reports, and to comply with the Bank Secrecy Act's requirements for reporting and recordkeeping of currency and foreign transactions. It also describes the examination schedule for certain small insured member banks. Sec. 208.61 Bank security procedures. (a) Authority, purpose, and scope. Pursuant to section 3 of the Bank Protection Act of 1968 (12 U.S.C. 1882), member banks are required to adopt appropriate security procedures to discourage robberies, burglaries, and larcenies, and to assist in the identification and prosecution of persons who commit such acts. It is the responsibility of the member bank's board of directors to comply with the provisions of this section and ensure that a written security program for the bank's main office and branches is developed and implemented. (b) Designation of security officer. Upon becoming a member of the Federal Reserve System, a member bank's board of directors shall designate a security officer who shall have the authority, subject to the approval of the board of directors, to develop, within a reasonable time, but no later than 180 days, and to administer a written security program for each banking office. (c) Security program. (1) The security program shall: (i) Establish procedures for opening and closing for business and for the safekeeping of all currency, negotiable securities, and similar valuables at all times; (ii) Establish procedures that will assist in identifying persons committing crimes against the institution and that will preserve evidence that may aid in their identification and prosecution. Such procedures may include, but are not limited to: maintaining a camera that records activity in the banking office; using identification devices, such as prerecorded serial-numbered bills, or chemical and electronic devices; and retaining a record of any robbery, burglary, or larceny committed against the bank; (iii) Provide for initial and periodic training of officers and employees in their responsibilities under the security program and in proper employee conduct during and after a burglary, robbery, or larceny; and (iv) Provide for selecting, testing, operating, and maintaining appropriate security devices, as specified in paragraph (c)(2) of this section. [[Page 229]] (2) Security devices. Each member bank shall have, at a minimum, the following security devices: (i) A means of protecting cash and other liquid assets, such as a vault, safe, or other secure space; (ii) A lighting system for illuminating, during the hours of darkness, the area around the vault, if the vault is visible from outside the banking office; (iii) Tamper-resistant locks on exterior doors and exterior windows that may be opened; (iv) An alarm system or other appropriate device for promptly notifying the nearest responsible law enforcement officers of an attempted or perpetrated robbery or burglary; and (v) Such other devices as the security officer determines to be appropriate, taking into consideration: the incidence of crimes against financial institutions in the area; the amount of currency and other valuables exposed to robbery, burglary, or larceny; the distance of the banking office from the nearest responsible law enforcement officers; the cost of the security devices; other security measures in effect at the banking office; and the physical characteristics of the structure of the banking office and its surroundings. (d) Annual reports. The security officer for each member bank shall report at least annually to the bank's board of directors on the implementation, administration, and effectiveness of the security program. (e) Reserve Banks. Each Reserve Bank shall develop and maintain a written security program for its main office and branches subject to review and approval of the Board. Sec. 208.62 Suspicious activity reports. (a) Purpose. This section ensures that a member bank files a Suspicious Activity Report when it detects a known or suspected violation of Federal law, or a suspicious transaction related to a money laundering activity or a violation of the Bank Secrecy Act. This section applies to all member banks. (b) Definitions. For the purposes of this section: (1) FinCEN means the Financial Crimes Enforcement Network of the Department of the Treasury. (2) Institution-affiliated party means any institution-affiliated party as that term is defined in 12 U.S.C. 1786(r), or 1813(u) and 1818(b) (3), (4) or (5). (3) SAR means a Suspicious Activity Report on the form prescribed by the Board. (c) SARs required. A member bank shall file a SAR with the appropriate Federal law enforcement agencies and the Department of the Treasury in accordance with the form's instructions by sending a completed SAR to FinCEN in the following circumstances: (1) Insider abuse involving any amount. Whenever the member bank detects any known or suspected Federal criminal violation, or pattern of criminal violations, committed or attempted against the bank or involving a transaction or transactions conducted through the bank, where the bank believes that it was either an actual or potential victim of a criminal violation, or series of criminal violations, or that the bank was used to facilitate a criminal transaction, and the bank has a substantial basis for identifying one of its directors, officers, employees, agents or other institution-affiliated parties as having committed or aided in the commission of a criminal act regardless of the amount involved in the violation. (2) Violations aggregating $5,000 or more where a suspect can be identified. Whenever the member bank detects any known or suspected Federal criminal violation, or pattern of criminal violations, committed or attempted against the bank or involving a transaction or transactions conducted through the bank and involving or aggregating $5,000 or more in funds or other assets, where the bank believes that it was either an actual or potential victim of a criminal violation, or series of criminal violations, or that the bank was used to facilitate a criminal transaction, and the bank has a substantial basis for identifying a possible suspect or group of suspects. If it is determined prior to filing this report that the identified suspect or group of suspects has used an ``alias,'' then information regarding the true identity of the suspect or group of suspects, as well as alias identifiers, such as drivers' licenses or [[Page 230]] social security numbers, addresses and telephone numbers, must be reported. (3) Violations aggregating $25,000 or more regardless of a potential suspect. Whenever the member bank detects any known or suspected Federal criminal violation, or pattern of criminal violations, committed or attempted against the bank or involving a transaction or transactions conducted through the bank and involving or aggregating $25,000 or more in funds or other assets, where the bank believes that it was either an actual or potential victim of a criminal violation, or series of criminal violations, or that the bank was used to facilitate a criminal transaction, even though there is no substantial basis for identifying a possible suspect or group of suspects. (4) Transactions aggregating $5,000 or more that involve potential money laundering or violations of the Bank Secrecy Act. Any transaction (which for purposes of this paragraph (c)(4) means a deposit, withdrawal, transfer between accounts, exchange of currency, loan, extension of credit, purchase or sale of any stock, bond, certificate of deposit, or other monetary instrument or investment security, or any other payment, transfer, or delivery by, through, or to a financial institution, by whatever means effected) conducted or attempted by, at or through the member bank and involving or aggregating $5,000 or more in funds or other assets, if the bank knows, suspects, or has reason to suspect that: (i) The transaction involves funds derived from illegal activities or is intended or conducted in order to hide or disguise funds or assets derived from illegal activities (including, without limitation, the ownership, nature, source, location, or control of such funds or assets) as part of a plan to violate or evade any law or regulation or to avoid any transaction reporting requirement under federal law; (ii) The transaction is designed to evade any regulations promulgated under the Bank Secrecy Act; or (iii) The transaction has no business or apparent lawful purpose or is not the sort in which the particular customer would normally be expected to engage, and the bank knows of no reasonable explanation for the transaction after examining the available facts, including the background and possible purpose of the transaction. (d) Time for reporting. A member bank is required to file a SAR no later than 30 calendar days after the date of initial detection of facts that may constitute a basis for filing a SAR. If no suspect was identified on the date of detection of the incident requiring the filing, a member bank may delay filing a SAR for an additional 30 calendar days to identify a suspect. In no case shall reporting be delayed more than 60 calendar days after the date of initial detection of a reportable transaction. In situations involving violations requiring immediate attention, such as when a reportable violation is on-going, the financial institution shall immediately notify, by telephone, an appropriate law enforcement authority and the Board in addition to filing a timely SAR. (e) Reports to state and local authorities. Member banks are encouraged to file a copy of the SAR with state and local law enforcement agencies where appropriate. (f) Exceptions. (1) A member bank need not file a SAR for a robbery or burglary committed or attempted that is reported to appropriate law enforcement authorities. (2) A member bank need not file a SAR for lost, missing, counterfeit, or stolen securities if it files a report pursuant to the reporting requirements of 17 CFR 240.17f-1. (g) Retention of records. A member bank shall maintain a copy of any SAR filed and the original or business record equivalent of any supporting documentation for a period of five years from the date of the filing of the SAR. Supporting documentation shall be identified and maintained by the bank as such, and shall be deemed to have been filed with the SAR. A member bank must make all supporting documentation available to appropriate law enforcement agencies upon request. (h) Notification to board of directors. The management of a member bank shall promptly notify its board of directors, or a committee thereof, of any report filed pursuant to this section. [[Page 231]] (i) Compliance. Failure to file a SAR in accordance with this section and the instructions may subject the member bank, its directors, officers, employees, agents, or other institution affiliated parties to supervisory action. (j) Confidentiality of SARs. SARs are confidential. Any member bank subpoenaed or otherwise requested to disclose a SAR or the information contained in a SAR shall decline to produce the SAR or to provide any information that would disclose that a SAR has been prepared or filed citing this section, applicable law (e.g., 31 U.S.C. 5318(g)), or both, and notify the Board. (k) Safe harbor. The safe harbor provisions of 31 U.S.C. 5318(g), which exempts any member bank that makes a disclosure of any possible violation of law or regulation from liability under any law or regulation of the United States, or any constitution, law or regulation of any state or political subdivision, covers all reports of suspected or known criminal violations and suspicious activities to law enforcement and financial institution supervisory authorities, including supporting documentation, regardless of whether such reports are filed pursuant to this section or are filed on a voluntary basis. Sec. 208.63 Procedures for monitoring Bank Secrecy Act compliance. (a) Purpose. This section is issued to assure that all state member banks establish and maintain procedures reasonably designed to assure and monitor their compliance with the provisions of the Bank Secrecy Act (31 U.S.C. 5311, et seq.) and the implementing regulations promulgated thereunder by the Department of Treasury at 31 CFR part 103, requiring recordkeeping and reporting of currency transactions. (b) Establishment of BSA compliance program--(1) Program requirement. Each bank shall develop and provide for the continued administration of a program reasonably designed to ensure and monitor compliance with the recordkeeping and reporting requirements set forth in subchapter II of chapter 53 of title 31, United States Code, the Bank Secrecy Act, and the implementing regulations promulgated thereunder by the Department of the Treasury at 31 CFR part 103. The compliance program shall be reduced to writing, approved by the board of directors, and noted in the minutes. (2) Customer identification program. Each bank is subject to the requirements of 31 U.S.C. 5318(l) and the implementing regulation jointly promulgated by the Board and the Department of the Treasury at 31 CFR 103.121, which require a customer identification program to be implemented as part of the BSA compliance program required under this section. (c) Contents of compliance program. The compliance program shall, at a minimum: (1) Provide for a system of internal controls to assure ongoing compliance; (2) Provide for independent testing for compliance to be conducted by bank personnel or by an outside party; (3) Designate an individual or individuals responsible for coordinating and monitoring day-to-day compliance; and (4) Provide training for appropriate personnel. [63 FR 37655, July 13, 1998, as amended at 68 FR 25111, May 9, 2003] Sec. 208.64 Frequency of examination. (a) General. The Federal Reserve examines insured member banks pursuant to authority conferred by 12 U.S.C. 325 and the requirements of 12 U.S.C. 1820(d). The Federal Reserve is required to conduct a full- scope, on-site examination of every insured member bank at least once during each 12-month period. (b) 18-month rule for certain small institutions. The Federal Reserve may conduct a full-scope, on-site examination of an insured member bank at least once during each 18-month period, rather than each 12-month period as provided in paragraph (a) of this section, if the following conditions are satisfied: (1) The bank has total assets of less than $3 billion; (2) The bank is well capitalized as defined in subpart D of this part (Sec. 208.43); (3) At the most recent examination conducted by either the Federal Reserve or applicable State banking agency, the Federal Reserve-- [[Page 232]] (i) Assigned the bank a rating of 1 or 2 for management as part of the bank's rating under the Uniform Financial Institutions Rating System (commonly referred to as CAMELS); and (ii) Assigned the bank a composite CAMELS rating of 1 or 2 under the Uniform Financial Institutions Rating System; (4) The bank currently is not subject to a formal enforcement proceeding or order by the Federal Reserve or the FDIC; and (5) No person acquired control of the bank during the preceding 12- month period in which a full-scope examination would have been required but for this paragraph (b). (c) Authority to conduct more frequent examinations. This section does not limit the authority of the Federal Reserve to examine any member bank as frequently as the agency deems necessary. (d)(1) Except as provided in paragraph (c) of this section, from December 2, 2020, through December 31, 2021, for purposes of determining eligibility for the extended examination cycle described in paragraph (b) of this section, the total assets of a member bank shall be determined based on the lesser of: (i) The assets of the member bank as of December 31, 2019; and (ii) The assets of the member bank as of the end of the most recent calendar quarter. (2) Nothing in paragraph (d)(1) of this section limits the authority of the Federal Reserve to examine any member bank as frequently as the agency deems necessary pursuant to paragraph (c) of this section. [63 FR 37655, July 13, 1998, as amended at 72 FR 17802, Apr. 10, 2007; 81 FR 10069, Feb. 29, 2016; 83 FR 43965, Aug. 29, 2018; 85 FR 77360, Dec. 2, 2020] Subpart G_Financial Subsidiaries of State Member Banks Source: Reg. H, 66 FR 42933, Aug. 16, 2001, unless otherwise noted. Sec. 208.71 What are the requirements to invest in or control a financial subsidiary? (a) In general. A state member bank may control, or hold an interest in, a financial subsidiary only if: (1) The state member bank and each depository institution affiliate of the state member bank are well capitalized and well managed; (2) The aggregate consolidated total assets of all financial subsidiaries of the state member bank do not exceed the lesser of: (i) 45 percent of the consolidated total assets of the parent bank; or (ii) $50 billion, which dollar amount shall be adjusted according to an indexing mechanism jointly established by the Board and the Secretary of the Treasury; (3) The state member bank, if it is one of the largest 100 insured banks (based on consolidated total assets as of the end of the previous calendar year), meets the debt rating or alternative requirement of paragraph (b) of this section, if applicable; and (4) The Board or the appropriate Reserve Bank has approved the bank to acquire the interest in or control the financial subsidiary under Sec. 208.76. (b) Debt rating or alternative requirement for 100 largest insured banks--(1) General. A state member bank meets the debt rating or alternative requirement of this paragraph (b) if: (i) The bank has at least one issue of eligible debt outstanding that is currently rated in one of the three highest investment grade rating categories by a nationally recognized statistical rating organization; or (ii) If the bank is one of the second 50 largest insured banks (based on consolidated total assets as of the end of the previous calendar year), the bank has a current long-term issuer credit rating from at least one nationally recognized statistical rating organization that is within the three highest investment grade rating categories used by the organization. (2) Financial subsidiaries engaged in financial activities only as agent. This paragraph (b) does not apply to a state member bank if the financial subsidiaries of the bank engage in financial activities described in Sec. 208.72(a)(1) and [[Page 233]] (2) only in an agency capacity and not directly or indirectly as principal. Sec. 208.72 What activities may a financial subsidiary conduct? (a) Authorized activities. A financial subsidiary of a state member bank may engage in only the following activities: (1) Any financial activity listed in Sec. 225.86(a), (b), or (c) of the Board's Regulation Y (12 CFR 225.86(a), (b), or (c)); (2) Any activity that the Secretary of the Treasury, in consultation with the Board, has determined to be financial in nature or incidental to a financial activity and permissible for financial subsidiaries pursuant to Section 5136A(b) of the Revised Statutes of the United States (12 U.S.C. 24a(b)); and (3) Any activity that the state member bank is permitted to engage in directly (subject to the same terms and conditions that govern the conduct of the activity by the state member bank). (b) Impermissible activities. Notwithstanding paragraph (a) of this section, a financial subsidiary may not engage as principal in the following activities: (1) Insuring, guaranteeing, or indemnifying against loss, harm, damage, illness, disability or death (except to the extent permitted under applicable state law and section 302 or 303(c) of the Gramm-Leach- Bliley Act (15 U.S.C. 6712 or 6713(c)); (2) Providing or issuing annuities the income of which is subject to tax treatment under section 72 of the Internal Revenue Code of 1986 (26 U.S.C. 72); (3) Real estate development or real estate investment, unless otherwise expressly authorized by applicable state and Federal law; and (4) Any merchant banking or insurance company investment activity permitted for financial holding companies by section 4(k)(4)(H) or (I) of the Bank Holding Company Act (12 U.S.C. 1843(k)(4)(H) and (I)). Sec. 208.73 What additional provisions are applicable to state member banks with financial subsidiaries? (a) Capital deduction required prior to January 1, 2015, for state member banks that are not advanced approaches banks (as defined in Sec. 208.41). A state member bank that controls or holds an interest in a financial subsidiary must comply with the following rules in determining its compliance with applicable regulatory capital standards (including the well capitalized standard of Sec. 208.71(a)(1)): (1) The bank must not consolidate the assets and liabilities of any financial subsidiary with those of the bank. (2) For purposes of determining the bank's risk-based capital ratios under appendix A of this part, the bank must-- (i) Deduct 50 percent of the aggregate amount of its outstanding equity investment (including retained earnings) in all financial subsidiaries from both the bank's Tier 1 capital and Tier 2 capital; and (ii) Deduct the entire amount of the bank's outstanding equity investment (including retained earnings) in all financial subsidiaries from the bank's risk-weighted assets. (3) For purposes of determining the bank's leverage capital ratio under appendix B of this part, the bank must-- (i) Deduct 50 percent of the aggregate amount of its outstanding equity investment (including retained earnings) in all financial subsidiaries from the bank's Tier 1 capital; and (ii) Deduct the entire amount of the bank's outstanding equity investment (including retained earnings) in all financial subsidiaries from the bank's average total assets. (4) For purposes of determining the bank's ratio of tangible equity to total assets under Sec. 208.43(b)(5), the bank must deduct the entire amount of the bank's outstanding equity investment (including retained earnings) in all financial subsidiaries from the bank's tangible equity and total assets. (5) If the deduction from Tier 2 capital required by paragraph (a)(2)(i) of this section exceeds the bank's Tier 2 capital, any excess must be deducted from the bank's Tier 1 capital. (b) Capital requirements for advanced approaches banks (as defined in Sec. 208.41) and, after January 1, 2015, all state member banks. Beginning on January 1, 2014, for a state member bank that is an advanced approaches bank, and beginning on January 1, 2015 for all state member banks, a state member bank that controls or holds an interest in a financial [[Page 234]] subsidiary must comply with the rules set forth in Sec. 217.22(a)(7) of Regulation Q (12 CFR 217.22(a)(7)) in determining its compliance with applicable regulatory capital standards (including the well capitalized standard of Sec. 208.71(a)(1)). (c) Financial statement disclosure of capital deduction. Any published financial statement of a state member bank that controls or holds an interest in a financial subsidiary must, in addition to providing information prepared in accordance with generally accepted accounting principles, separately present financial information for the bank reflecting the capital deduction and adjustments required by paragraph (a) of this section. (d) Safeguards for the bank. A state member bank that establishes, controls or holds an interest in a financial subsidiary must: (1) Establish and maintain procedures for identifying and managing financial and operational risks within the state member bank and the financial subsidiary that adequately protect the state member bank from such risks; and (2) Establish and maintain reasonable policies and procedures to preserve the separate corporate identity and limited liability of the state member bank and the financial subsidiary. (e) Application of Sections 23A and 23B of the Federal Reserve Act. For purposes of sections 23A and 23B of the Federal Reserve Act (12 U.S.C. 371c, 371c-1): (1) A financial subsidiary of a state member bank shall be deemed an affiliate, and not a subsidiary, of the bank; (2) The restrictions contained in section 23A(a)(1)(A) of the Federal Reserve Act (12 U.S.C. 371c(a)(1)(A)) shall not apply with respect to covered transactions between the bank and any individual financial subsidiary of the bank; (3) The bank's investment in a financial subsidiary shall not include retained earnings of the financial subsidiary; (4) Any purchase of, or investment in, the securities of a financial subsidiary by an affiliate of the bank will be considered to be a purchase of, or investment in, such securities by the bank; and (5) Any extension of credit by an affiliate of the bank to a financial subsidiary of the bank will be considered to be an extension of credit by the bank to the financial subsidiary if the Board determines that such treatment is necessary or appropriate to prevent evasions of the Federal Reserve Act and the Gramm-Leach-Bliley Act. (f) Application of anti-tying prohibitions. A financial subsidiary of a state member bank shall be deemed a subsidiary of a bank holding company and not a subsidiary of the bank for purposes of the anti-tying prohibitions of section 106 of the Bank Holding Company Act Amendments of 1970 (12 U.S.C. 1971 et seq.). [Reg. H, 66 FR 42933, Aug. 16, 2001, as amended at 78 FR 62284, Oct. 11, 2013] Sec. 208.74 What happens if the state member bank or a depository institution affiliate fails to continue to meet certain requirements? (a) Qualifications and safeguards. The following procedures apply to a state member bank that controls or holds an interest in a financial subsidiary. (1) Notice by Board. If the Board finds that a state member bank or any of its depository institution affiliates fails to continue to be well capitalized and well managed, or the state member bank is not in compliance with the asset limitation set forth in Sec. 208.71(a)(2) or the safeguards set forth in Sec. 208.73(c), the Board will notify the state member bank in writing and identify the areas of noncompliance. The Board may provide this notice at any time before or after receiving notice from the state member bank under paragraph (a)(2) of this section. (2) Notification by state member bank. A state member bank must notify the appropriate Reserve Bank in writing within 15 calendar days of becoming aware that any depository institution affiliate of the bank has ceased to be well capitalized or well managed. The notification must identify the depository institution affiliate and the area(s) of noncompliance. (3) Execution of agreement. Within 45 days after receiving a notice from the Board under paragraph (a)(1) of this section, or such additional period of time as the Board may permit, the: [[Page 235]] (i) State member bank must execute an agreement acceptable to the Board to comply with all applicable capital, management, asset and safeguard requirements; and (ii) Any relevant depository institution affiliate of the state member bank must execute an agreement acceptable to its appropriate Federal banking agency to comply with all applicable capital and management requirements. (4) Agreement requirements. Any agreement required by paragraph (a)(3)(i) of this section must: (i) Explain the specific actions that the state member bank will take to correct all areas of noncompliance; (ii) Provide a schedule within which each action will be taken; and (iii) Provide any other information the Board may require. (5) Imposition of limits. Until the Board determines that the conditions described in the notice under paragraph (a)(1) of this section are corrected: (i) The Board may impose any limitations on the conduct or activities of the state member bank or any subsidiary of the bank as the Board determines to be appropriate under the circumstances and consistent with the purposes of section 121 of the Gramm-Leach-Bliley Act, including requiring the Board's prior approval for any financial subsidiary of the bank to acquire any company or engage in any additional activity; and (ii) The appropriate Federal banking agency for any relevant depository institution affiliate may impose any limitations on the conduct or activities of the depository institution or any subsidiary of that institution as the agency determines to be appropriate under the circumstances and consistent with the purposes of section 121 of the Gramm-Leach-Bliley Act. (6) Divestiture. The Board may require a state member bank to divest control of any financial subsidiary if the conditions described in a notice under paragraph (a)(1) of this section are not corrected within 180 days of receipt of the notice or such additional period of time as the Board may permit. Any divestiture must be completed in accordance with any terms and conditions established by the Board. (7) Consultation. The Board will consult with all relevant Federal and state regulatory authorities in taking any action under this paragraph (a). (b) Debt rating or alternative requirement. If a state member bank does not continue to meet any applicable debt rating or alternative requirement of Sec. 208.71(b), the bank may not, directly or through a subsidiary, purchase or acquire any additional equity capital of any financial subsidiary until the bank restores its compliance with the requirements of that section. For purposes of this paragraph (b), the term ``equity capital'' includes, in addition to any equity instrument, any debt instrument issued by the financial subsidiary if the debt instrument qualifies as capital of the subsidiary under any Federal or state law, regulation or interpretation applicable to the subsidiary. Sec. 208.75 What happens if the state member bank or any of its insured depository institution affiliates receives less than a ``satisfactory'' CRA rating? (a) Limits on establishment of financial subsidiaries and expansion of existing financial subsidiaries. If a state member bank, or any insured depository institution affiliate of the bank, has received less than a ``satisfactory'' rating in meeting community credit needs in its most recent examination under the Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.): (1) The state member bank may not, directly or indirectly, acquire control of any financial subsidiary; and (2) Any financial subsidiary controlled by the state member bank may not commence any additional activity or acquire control, including all or substantially all of the assets, of any company. (b) Exception for certain activities. The prohibition in paragraph (a)(2) of this section does not apply to any activity, or to the acquisition of control of any company that is engaged only in activities, that the state member bank is permitted to conduct directly and that are conducted on the same terms and conditions that govern the conduct of the activity by the state member bank. (c) Duration of prohibitions. The prohibitions described in paragraph (a) of [[Page 236]] this section shall continue in effect until such time as the state member bank and each insured depository institution affiliate of the state member bank has achieved at least a ``satisfactory'' rating in meeting community credit needs in its most recent examination under the Community Reinvestment Act. Sec. 208.76 What Federal Reserve approvals are necessary for financial subsidiaries? (a) Notice requirements. (1) A state member bank may not acquire control of, or an interest in, a financial subsidiary unless it files a notice (in letter form, with enclosures) with the appropriate Reserve Bank. (2) A state member bank may not engage in any additional activity pursuant to Sec. 208.72(a)(1) or (2) through an existing financial subsidiary unless the state member bank files a notice (in letter form, with enclosures) with the appropriate Reserve Bank. (b) Contents of Notice. Any notice required by paragraph (a) of this section must: (1) In the case of a notice filed under paragraph (a)(1) of this section, describe the transaction(s) through which the bank proposes to acquire control of, or an interest in, the financial subsidiary; (2) Provide the name and head office address of the financial subsidiary; (3) Provide a description of the current and proposed activities of the financial subsidiary and the specific authority permitting each activity; (4) Provide the capital ratios as of the close of the previous calendar quarter for all relevant capital measures, as defined in section 38 of the Federal Deposit Insurance Act (12 U.S.C. 1831o), for the bank and each of its depository institution affiliates; (5) Certify that the bank and each of its depository institution affiliates was well capitalized at the close of the previous calendar quarter and is well capitalized as of the date the bank files its notice; (6) Certify that the bank and each of its depository institution affiliates is well managed as of the date the bank files its notice; (7) Certify that the bank meets the debt rating or alternative requirement of Sec. 208.71(b), if applicable; and (8) Certify that the bank and its financial subsidiaries are in compliance with the asset limit set forth in Sec. 208.71(a)(2) both before the proposal and on a pro forma basis. (c) Insurance activities. (1) If a notice filed under paragraph (a) of this section relates to the initial affiliation of the bank with a company engaged in insurance activities, the notice must describe the type of insurance activity that the company is engaged in or plans to conduct and identify each state where the company holds an insurance license and the state insurance regulatory authority that issued the license. (2) The appropriate Reserve Bank will send a copy of any notice described in paragraph (c)(1) of this section to the appropriate state insurance regulatory authorities and provide such authorities with an opportunity to comment on the proposal. (d) Approval procedures. A notice filed with the appropriate Reserve Bank under paragraph (a) of this section will be deemed approved on the fifteenth day after receipt of a complete notice by the appropriate Reserve Bank, unless prior to that date the Board or the appropriate Reserve Bank notifies the bank that the notice is approved, that the notice will require additional review, or that the bank does not meet the requirements of this subpart. Any notification of early approval of a notice must be in writing. Sec. 208.77 Definitions. The following definitions shall apply for purposes of this subpart: (a) Affiliate, Company, Control, and Subsidiary. The terms ``affiliate'', ``company'', ``control'', and ``subsidiary'' have the meanings given those terms in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841). (b) Appropriate Federal Banking Agency, Depository Institution, Insured Bank and Insured Depository Institution. The terms ``appropriate Federal banking agency'', ``depository institution'', ``insured bank'' and ``insured depository institution'' have the meanings given those terms in section 3 of the [[Page 237]] Federal Deposit Insurance Act (12 U.S.C. 1813). (c) [Reserved] (d) Eligible Debt. The term ``eligible debt'' means unsecured debt with an initial maturity of more than 360 days that: (1) Is not supported by any form of credit enhancement, including a guarantee or standby letter of credit; and (2) Is not held in whole or in any significant part by any affiliate, officer, director, principal shareholder, or employee of the bank or any other person acting on behalf of or with funds from the bank or an affiliate of the bank. (e) Financial Subsidiary--(1) In general. The term ``financial subsidiary'' means any company that is controlled by one or more insured depository institutions other than: (i) A subsidiary that engages only in activities that the state member bank is permitted to engage in directly and that are conducted on the same terms and conditions that govern the conduct of the activities by the state member bank; or (ii) A subsidiary that the state member bank is specifically authorized by the express terms of a Federal statute (other than section 9 of the Federal Reserve Act (12 U.S.C. 335)), and not by implication or interpretation, to control, such as by section 25 or 25A of the Federal Reserve Act (12 U.S.C. 601-604a, 611-631) or the Bank Service Company Act (12 U.S.C. 1861 et seq.). (2) Subsidiaries of financial subsidiaries. A financial subsidiary includes any company that is directly or indirectly controlled by the financial subsidiary. (f) Long-term Issuer Credit Rating. The term ``long-term issuer credit rating'' means a written opinion issued by a nationally recognized statistical rating organization of the bank's overall capacity and willingness to pay on a timely basis its unsecured, dollar- denominated financial obligations maturing in not less than one year. (g) Well Capitalized--(1) Insured depository institutions. An insured depository institution is ``well capitalized'' if it has and maintains at least the capital levels required to be well capitalized under the capital adequacy regulations or guidelines adopted by the institution's appropriate Federal banking agency under section 38 of the Federal Deposit Insurance Act (12 U.S.C. 1831o). (2) Uninsured depository institutions. A depository institution the deposits of which are not insured by the Federal Deposit Insurance Corporation is ``well capitalized'' if the institution has and maintains at least the capital levels required for an insured depository institution to be well capitalized. (h) Well Managed--(1) In general. The term ``well managed'' means: (i) Unless otherwise determined in writing by the appropriate Federal banking agency, the institution has received a composite rating of 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under an equivalent rating system) and at least a rating of 2 for management (if such rating is given) in connection with its most recent examination or subsequent review by the institution's appropriate Federal banking agency (or the appropriate state banking agency in an examination described in section 10(d) of the Federal Deposit Insurance Act (12 U.S.C. 1820(d)); or (ii) In the case of any depository institution that has not been examined by its appropriate Federal banking agency or been subject to an examination by its appropriate state banking agency that meets the requirements of section 10(d) of the Federal Deposit Insurance Act (18 U.S.C. 1820(d)), the existence and use of managerial resources that the appropriate Federal banking agency determines are satisfactory. (2) Merged depository institutions--(i) Merger involving well managed institutions. A depository institution that results from the merger of two or more depository institutions that are well managed will be considered to be well managed unless the appropriate Federal banking agency for the resulting depository institution determines otherwise. (ii) Merger involving a poorly rated institution. A depository institution that results from the merger of a well managed depository institution with one or more depository institutions that are not well managed or that have not been examined shall be considered to be well managed if the appropriate [[Page 238]] Federal banking agency for the resulting depository institution determines that the institution is well managed. [Reg. H, 66 FR 42933, Aug. 16, 2001, as amended at 78 FR 62284, Oct. 11, 2013] Subpart H_Consumer Protection in Sales of Insurance Source: 65 FR 75841, Dec. 4, 2000, unless otherwise noted. Sec. 208.81 Purpose and scope. This subpart establishes consumer protections in connection with retail sales practices, solicitations, advertising, or offers of any insurance product or annuity to a consumer by: (a) Any state member bank; or (b) Any other person that is engaged in such activities at an office of the bank or on behalf of the bank. Sec. 208.82 Definitions for purposes of this subpart. As used in this subpart: (a) Affiliate means a company that controls, is controlled by, or is under common control with another company. (b) Bank means a state member bank. (c) Company means any corporation, partnership, business trust, association or similar organization, or any other trust (unless by its terms the trust must terminate within twenty-five years or not later than twenty-one years and ten months after the death of individuals living on the effective date of the trust). It does not include any corporation the majority of the shares of which are owned by the United States or by any State, or a qualified family partnership, as defined in section 2(o)(10) of the Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841(o)(10)). (d) Consumer means an individual who purchases, applies to purchase, or is solicited to purchase from you insurance products or annuities primarily for personal, family, or household purposes. (e) Control of a company has the same meaning as in section 3(w)(5) of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)(5)). (f) Domestic violence means the occurrence of one or more of the following acts by a current or former family member, household member, intimate partner, or caretaker: (1) Attempting to cause or causing or threatening another person physical harm, severe emotional distress, psychological trauma, rape, or sexual assault; (2) Engaging in a course of conduct or repeatedly committing acts toward another person, including following the person without proper authority, under circumstances that place the person in reasonable fear of bodily injury or physical harm; (3) Subjecting another person to false imprisonment; or (4) Attempting to cause or causing damage to property so as to intimidate or attempt to control the behavior of another person. (g) Electronic media includes any means for transmitting messages electronically between you and a consumer in a format that allows visual text to be displayed on equipment, for example, a personal computer monitor. (h) Office means the premises of a bank where retail deposits are accepted from the public. (i) Subsidiary has the same meaning as in section 3(w)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)(4)). (j)(1) You means: (i) A bank; or (ii) Any other person only when the person sells, solicits, advertises, or offers an insurance product or annuity to a consumer at an office of the bank or on behalf of a bank. (2) For purposes of this definition, activities on behalf of a bank include activities where a person, whether at an office of the bank or at another location sells, solicits, advertises, or offers an insurance product or annuity and at least one of the following applies: (i) The person represents to a consumer that the sale, solicitation, advertisement, or offer of any insurance product or annuity is by or on behalf of the bank; (ii) If the bank refers a consumer to a seller of insurance products or annuities and the bank has a contractual arrangement to receive commissions or [[Page 239]] fees derived from the sale of an insurance product or annuity resulting from that referral; or (iii) Documents evidencing the sale, solicitation, advertising, or offer of an insurance product or annuity identify or refer to the bank. Sec. 208.83 Prohibited practices. (a) Anticoercion and antitying rules. You may not engage in any practice that would lead a consumer to believe that an extension of credit, in violation of section 106(b) of the Bank Holding Company Act Amendments of 1970 (12 U.S.C. 1972), is conditional upon either: (1) The purchase of an insurance product or annuity from the bank or any of its affiliates; or (2) An agreement by the consumer not to obtain, or a prohibition on the consumer from obtaining, an insurance product or annuity from an unaffiliated entity. (b) Prohibition on misrepresentations generally. You may not engage in any practice or use any advertisement at any office of, or on behalf of, the bank or a subsidiary of the bank that could mislead any person or otherwise cause a reasonable person to reach an erroneous belief with respect to: (1) The fact that an insurance product or annuity sold or offered for sale by you or any subsidiary of the bank is not backed by the Federal government or the bank or the fact that the insurance product or annuity is not insured by the Federal Deposit Insurance Corporation; (2) In the case of an insurance product or annuity that involves investment risk, the fact that there is an investment risk, including the potential that principal may be lost and that the product may decline in value; or (3) In the case of a bank or subsidiary of the bank at which insurance products or annuities are sold or offered for sale, the fact that: (i) The approval of an extension of credit to a consumer by the bank or subsidiary may not be conditioned on the purchase of an insurance product or annuity by the consumer from the bank or a subsidiary of the bank; and (ii) The consumer is free to purchase the insurance product or annuity from another source. (c) Prohibition on domestic violence discrimination. You may not sell or offer for sale, as principal, agent, or broker, any life or health insurance product if the status of the applicant or insured as a victim of domestic violence or as a provider of services to victims of domestic violence is considered as a criterion in any decision with regard to insurance underwriting, pricing, renewal, or scope of coverage of such product, or with regard to the payment of insurance claims on such product, except as required or expressly permitted under State law. Sec. 208.84 What you must disclose. (a) Insurance disclosures. In connection with the initial purchase of an insurance product or annuity by a consumer from you, you must disclose to the consumer, except to the extent the disclosure would not be accurate, that: (1) The insurance product or annuity is not a deposit or other obligation of, or guaranteed by, the bank or an affiliate of the bank; (2) The insurance product or annuity is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States, the bank, or (if applicable) an affiliate of the bank; and (3) In the case of an insurance product or annuity that involves an investment risk, there is investment risk associated with the product, including the possible loss of value. (b) Credit disclosure. In the case of an application for credit in connection with which an insurance product or annuity is solicited, offered, or sold, you must disclose that the bank may not condition an extension of credit on either: (1) The consumer's purchase of an insurance product or annuity from the bank or any of its affiliates; or (2) The consumer's agreement not to obtain, or a prohibition on the consumer from obtaining, an insurance product or annuity from an unaffiliated entity. (c) Timing and method of disclosures--(1) In general. The disclosures required by paragraph (a) of this section must be provided orally and in writing before the completion of the initial sale of an [[Page 240]] insurance product or annuity to a consumer. The disclosure required by paragraph (b) of this section must be made orally and in writing at the time the consumer applies for an extension of credit in connection with which insurance is solicited, offered, or sold. (2) Exceptions for transactions by mail. If a sale of an insurance product or annuity is conducted by mail, you are not required to make the oral disclosures required by paragraph (a) of this section. If you take an application for credit by mail, you are not required to make the oral disclosure required by paragraph (b) of this section. (3) Exception for transactions by telephone. If a sale of an insurance product or annuity is conducted by telephone, you may provide the written disclosures required by paragraph (a) of this section by mail within 3 business days beginning on the first business day after the sale, excluding Sundays and the legal public holidays specified in 5 U.S.C 6103(a). If you take an application for such credit by telephone, you may provide the written disclosure required by paragraph (b) of this section by mail, provided you mail it to the consumer within three days beginning the first business day after the application is taken, excluding Sundays and the legal public holidays specified in 5 U.S.C. 6103(a). (4) Electronic form of disclosures. (i) Subject to the requirements of section 101(c) of the Electronic Signatures in Global and National Commerce Act (12 U.S.C. 7001(c)), you may provide the written disclosures required by paragraphs (a) and (b) of this section through electronic media instead of on paper, if the consumer affirmatively consents to receiving the disclosures electronically and if the disclosures are provided in a format that the consumer may retain or obtain later, for example, by printing or storing electronically (such as by downloading). (ii) Any disclosures required by paragraphs (a) or (b) of this section that are provided by electronic media are not required to be provided orally. (5) Disclosures must be readily understandable. The disclosures provided shall be conspicuous, simple, direct, readily understandable, and designed to call attention to the nature and significance of the information provided. For instance, you may use the following disclosures, in visual media, such as television broadcasting, ATM screens, billboards, signs, posters and written advertisements and promotional materials, as appropriate and consistent with paragraphs (a) and (b) of this section: NOT A DEPOSIT NOT FDIC-INSURED NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NOT GUARANTEED BY THE BANK MAY GO DOWN IN VALUE (6) Disclosures must be meaningful. (i) You must provide the disclosures required by paragraphs (a) and (b) of this section in a meaningful form. Examples of the types of methods that could call attention to the nature and significance of the information provided include: (A) A plain-language heading to call attention to the disclosures; (B) A typeface and type size that are easy to read; (C) Wide margins and ample line spacing; (D) Boldface or italics for key words; and (E) Distinctive type size, style, and graphic devices, such as shading or sidebars, when the disclosures are combined with other information. (ii) You have not provided the disclosures in a meaningful form if you merely state to the consumer that the required disclosures are available in printed material, but you do not provide the printed material when required and do not orally disclose the information to the consumer when required. (iii) With respect to those disclosures made through electronic media for which paper or oral disclosures are not required, the disclosures are not meaningfully provided if the consumer may bypass the visual text of the disclosures before purchasing an insurance product or annuity. (7) Consumer acknowledgment. You must obtain from the consumer, at the time a consumer receives the disclosures required under paragraphs (a) or (b) of this section, or at the time of the initial purchase by the consumer of an [[Page 241]] insurance product or annuity, a written acknowledgment by the consumer that the consumer received the disclosures. You may permit a consumer to acknowledge receipt of the disclosures electronically or in paper form. If the disclosures required under paragraphs (a) or (b) of this section are provided in connection with a transaction that is conducted by telephone, you must: (i) Obtain an oral acknowledgment of receipt of the disclosures and maintain sufficient documentation to show that the acknowledgment was given; and (ii) Make reasonable efforts to obtain a written acknowledgment from the consumer. (d) Advertisements and other promotional material for insurance products or annuities. The disclosures described in paragraph (a) of this section are required in advertisements and promotional material for insurance products or annuities unless the advertisements and promotional materials are of a general nature describing or listing the services or products offered by the bank. Sec. 208.85 Where insurance activities may take place. (a) General rule. A bank must, to the extent practicable, keep the area where the bank conducts transactions involving insurance products or annuities physically segregated from areas where retail deposits are routinely accepted from the general public, identify the areas where insurance product or annuity sales activities occur, and clearly delineate and distinguish those areas from the areas where the bank's retail deposit-taking activities occur. (b) Referrals. Any person who accepts deposits from the public in an area where such transactions are routinely conducted in the bank may refer a consumer who seeks to purchase an insurance product or annuity to a qualified person who sells that product only if the person making the referral receives no more than a one-time, nominal fee of a fixed dollar amount for each referral that does not depend on whether the referral results in a transaction. Sec. 208.86 Qualification and licensing requirements for insurance sales personnel. A bank may not permit any person to sell or offer for sale any insurance product or annuity in any part of its office or on its behalf, unless the person is at all times appropriately qualified and licensed under applicable State insurance licensing standards with regard to the specific products being sold or recommended. Sec. Appendix A to Subpart H of Part 208--Consumer Grievance Process Any consumer who believes that any bank or any other person selling, soliciting, advertising, or offering insurance products or annuities to the consumer at an office of the bank or on behalf of the bank has violated the requirements of this subpart should contact the Consumer Complaints Section, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System at the following address: 20th & C Streets, NW, Washington, D.C. 20551. Subpart I [Reserved] Subpart J_Interpretations Source: Reg. H, 63 FR 37658, July 13, 1998, unless otherwise noted. Redesignated at 65 FR 14814, Mar. 20, 2000. Redesignated further at 65 FR 75841, Dec. 4, 2000. Redesignated further at 75 FR 44688, July 28, 2010. Sec. 208.110 Sale of bank's money orders off premises as establishment of branch office. (a) The Board of Governors has been asked to consider whether the appointment by a member bank of an agent to sell the bank's money orders, at a location other than the premises of the bank, constitutes the establishment of a branch office. (b) Section 5155 of the Revised Statutes (12 U.S.C. 36), which is also applicable to member banks, defines the term branch as including ``any branch bank, branch office, branch agency, additional office, or any branch place of business * * * at which deposits are received, or checks paid, or money lent.'' The basic question is whether the sale of a bank's money orders by an agent amounts to the receipt of deposits at a branch place of business within the meaning of this statute. [[Page 242]] (c) Money orders are classified as deposits for certain purposes. However, they bear a strong resemblance to traveler's checks that are issued by banks and sold off premises. In both cases, the purchaser does not intend to establish a deposit account in the bank, although a liability on the bank's part is created. Even though they result in a deposit liability, the Board is of the opinion that the issuance of a bank's money orders by an authorized agent does not involve the receipt of deposits at a ``branch place of business'' and accordingly does not require the Board's permission to establish a branch. Sec. 208.111 Obligations concerning institutional customers. (a) As a result of broadened authority provided by the Government Securities Act Amendments of 1993 (15 U.S.C. 78o-3 and 78o-5), the Board is adopting sales practice rules for the government securities market, a market with a particularly broad institutional component. Accordingly, the Board believes it is appropriate to provide further guidance to banks on their suitability obligations when making recommendations to institutional customers. (b) The Board's Suitability Rule, Sec. 208.37(d), is fundamental to fair dealing and is intended to promote ethical sales practices and high standards of professional conduct. Banks' responsibilities include having a reasonable basis for recommending a particular security or strategy, as well as having reasonable grounds for believing the recommendation is suitable for the customer to whom it is made. Banks are expected to meet the same high standards of competence, professionalism, and good faith regardless of the financial circumstances of the customer. (c) In recommending to a customer the purchase, sale, or exchange of any government security, the bank shall have reasonable grounds for believing that the recommendation is suitable for the customer upon the basis of the facts, if any, disclosed by the customer as to the customer's other security holdings and financial situation and needs. (d) The interpretation in this section concerns only the manner in which a bank determines that a recommendation is suitable for a particular institutional customer. The manner in which a bank fulfills this suitability obligation will vary, depending on the nature of the customer and the specific transaction. Accordingly, the interpretation in this section deals only with guidance regarding how a bank may fulfill customer-specific suitability obligations under Sec. 208.37(d). \8\ --------------------------------------------------------------------------- \8\ The interpretation in this section does not address the obligation related to suitability that requires that a bank have''* * * a `reasonable basis' to believe that the recommendation could be suitable for at least some customers.'' In the Matter of the Application of F.J. Kaufman and Company of Virginia and Frederick J. Kaufman, Jr., 50 SEC 164 (1989). --------------------------------------------------------------------------- (e) While it is difficult to define in advance the scope of a bank's suitability obligation with respect to a specific institutional customer transaction recommended by a bank, the Board has identified certain factors that may be relevant when considering compliance with Sec. 208.37(d). These factors are not intended to be requirements or the only factors to be considered but are offered merely as guidance in determining the scope of a bank's suitability obligations. (f) The two most important considerations in determining the scope of a bank's suitability obligations in making recommendations to an institutional customer are the customer's capability to evaluate investment risk independently and the extent to which the customer is exercising independent judgement in evaluating a bank's recommendation. A bank must determine, based on the information available to it, the customer's capability to evaluate investment risk. In some cases, the bank may conclude that the customer is not capable of making independent investment decisions in general. In other cases, the institutional customer may have general capability, but may not be able to understand a particular type of instrument or its risk. This is more likely to arise with relatively new types of instruments, or those [[Page 243]] with significantly different risk or volatility characteristics than other investments generally made by the institution. If a customer is either generally not capable of evaluating investment risk or lacks sufficient capability to evaluate the particular product, the scope of a bank's customer-specific obligations under Sec. 208.37(d) would not be diminished by the fact that the bank was dealing with an institutional customer. On the other hand, the fact that a customer initially needed help understanding a potential investment need not necessarily imply that the customer did not ultimately develop an understanding and make an independent investment decision. (g) A bank may conclude that a customer is exercising independent judgement if the customer's investment decision will be based on its own independent assessment of the opportunities and risks presented by a potential investment, market factors and other investment considerations. Where the bank has reasonable grounds for concluding that the institutional customer is making independent investment decisions and is capable of independently evaluating investment risk, then a bank's obligations under Sec. 208.25(d) for a particular customer are fulfilled. \9\ Where a customer has delegated decision- making authority to an agent, such as an investment advisor or a bank trust department, the interpretation in this section shall be applied to the agent. --------------------------------------------------------------------------- \9\ See footnote 8 in paragraph (d) of this section. --------------------------------------------------------------------------- (h) A determination of capability to evaluate investment risk independently will depend on an examination of the customer's capability to make its own investment decisions, including the resources available to the customer to make informed decisions. Relevant considerations could include: (1) The use of one or more consultants, investment advisers, or bank trust departments; (2) The general level of experience of the institutional customer in financial markets and specific experience with the type of instruments under consideration; (3) The customer's ability to understand the economic features of the security involved; (4) The customer's ability to independently evaluate how market developments would affect the security; and (5) The complexity of the security or securities involved. (i) A determination that a customer is making independent investment decisions will depend on the nature of the relationship that exists between the bank and the customer. Relevant considerations could include: (1) Any written or oral understanding that exists between the bank and the customer regarding the nature of the relationship between the bank and the customer and the services to be rendered by the bank; (2) The presence or absence of a pattern of acceptance of the bank's recommendations; (3) The use by the customer of ideas, suggestions, market views and information obtained from other government securities brokers or dealers or market professionals, particularly those relating to the same type of securities; and (4) The extent to which the bank has received from the customer current comprehensive portfolio information in connection with discussing recommended transactions or has not been provided important information regarding its portfolio or investment objectives. (j) Banks are reminded that these factors are merely guidelines that will be utilized to determine whether a bank has fulfilled its suitability obligation with respect to a specific institutional customer transaction and that the inclusion or absence of any of these factors is not dispositive of the determination of suitability. Such a determination can only be made on a case-by-case basis taking into consideration all the facts and circumstances of a particular bank/ customer relationship, assessed in the context of a particular transaction. (k) For purposes of the interpretation in this section, an institutional customer shall be any entity other than a natural person. In determining the applicability of the interpretation in this section to an institutional customer, [[Page 244]] the Board will consider the dollar value of the securities that the institutional customer has in its portfolio and/or under management. While the interpretation in this section is potentially applicable to any institutional customer, the guidance contained in this section is more appropriately applied to an institutional customer with at least $10 million invested in securities in the aggregate in its portfolio and/or under management. [Reg. H, 63 FR 37658, July 13, 1998. Redesignated at 65 FR 14814, Mar. 20, 2000. Redesignated further at 65 FR 75841, Dec. 4, 2000. Redesignated further at 75 FR 44688, July 28, 2010; 75 FR 44692, July 28, 2010; 78 FR 62284, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Subpart K_Forms, Instructions and Reports Source: Reg. H, 84 FR 29051, June 21, 2019, unless otherwise noted. Sec. 208.120 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board under section 7 of the Federal Deposit Insurance Act, 12 U.S.C. 1817(a)(3) and (12), and section 9 of the Federal Reserve Act, 12 U.S.C. 324. (b) Purpose and scope. This subpart informs a state member bank where it may obtain forms and instructions for reports of conditions and implements 12 U.S.C. 1817(a)(12) to allow reduced reporting for a covered depository institution when such institution makes its reports of condition for the first and third calendar quarters of a year. Sec. 208.121 Definitions. Covered depository institution means a state member bank that meets all of the following criteria: (1) Has less than $5 billion in total consolidated assets as reported in its report of condition for the second calendar quarter of the preceding year, except that, during the calendar year 2021, a state member bank shall determine whether it meets the requirement in paragraph (1) of this section by using the lesser of its total consolidated assets as reported in its report of condition as of December 31, 2019, and its total consolidated assets as reported in its report of condition for the second calendar quarter of 2020. The relief provided under this paragraph (1) of this section does not apply to a state member bank if the Board determines that permitting the state member bank to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the state member bank. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the state member bank since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the state member bank has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the state member bank. In making a determination pursuant to this paragraph (1), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (2) Has no foreign offices, as defined in this section; (3) Is not required to or has not elected to use 12 CFR part 217, subpart E, to calculate its risk-based capital requirements; and (4) Is not a large institution or highly complex institution, as such terms are defined in 12 CFR 327.8, or treated as a large institution, as requested under 12 CFR 327.16(f). Foreign country refers to one or more foreign nations, and includes the overseas territories, dependencies, and insular possessions of those nations and of the United States. Foreign office means: (1) A branch or consolidated subsidiary in a foreign country, unless the branch is located on a U.S. military facility; (2) An international banking facility as such term is defined in 12 CFR 204.8; (3) A majority-owned Edge Act or Agreement subsidiary including both its U.S. and its foreign offices; and (4) For an institution chartered or headquartered in any U.S. state or the [[Page 245]] District of Columbia, a branch or consolidated subsidiary located in a U.S. territory or possession. Report of condition means the FFIEC 031, FFIEC 041, or FFIEC 051 versions of the Consolidated Report of Condition and Income (Call Report) or the FFIEC 002 (Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks), as applicable, and as they may be amended or superseded from time to time in accordance with the Paperwork Reduction Act of 1995, 44 U.S.C. chapter 35. Total consolidated assets means total assets as reported in a state member bank's report of condition. [Reg. H, 84 FR 29051, June 21, 2019, as amended at 85 FR 77360, Dec. 2, 2020] Sec. 208.122 Reporting. (a) A state member bank is required to file the report of condition (Call Report) in accordance with the instructions for these reports. All assets and liabilities, including contingent assets and liabilities, must be reported in, or otherwise taken into account in the preparation of, the Call Report. The Board uses Call Report data to monitor the condition, performance, and risk profile of individual state member banks and the banking industry. Reporting state member banks must also submit annually such information on small business and small farm lending as the Board may need to assess the availability of credit to these sectors of the economy. The report forms and instructions can be obtained from Federal Reserve District Banks or through the website of the Federal Financial Institutions Examination Council, http:// www.ffiec.gov/. (b) Every insured U.S. branch of a foreign bank is required to file the FFIEC 002 version of the report of condition (Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks) in accordance with the instructions for the report. All assets and liabilities, including contingent assets and liabilities, must be reported in, or otherwise taken into account in the preparation of the report. The Board uses the reported data to monitor the condition, performance, and risk profile of individual insured branches and the banking industry. Insured branches must also submit annually such information on small business and small farm lending as the Board may need to assess the availability of credit to these sectors of the economy. The report forms and instructions can be obtained from Federal Reserve District Banks or through the website of the Federal Financial Institutions Examination Council, http://www.ffiec.gov/. Sec. 208.123 Reduced reporting. A covered depository institution may file the FFIEC 051 version of the report of condition, or any successor thereto, which shall provide for reduced reporting for the reports of condition for the first and third calendar quarters for a year. Sec. 208.124 Reservation of authority. (a) Notwithstanding Sec. 208.123, the Board in consultation with the applicable state chartering authority may require an otherwise eligible covered depository institution to file the FFIEC 041 version of the report of condition, or any successor thereto, based on an institution-specific determination. In making this determination, the Board may consider criteria including, but not limited to, whether the institution is significantly engaged in one or more complex, specialized, or other higher risk activities, such as those for which limited information is reported in the FFIEC 051 version of the report of condition compared to the FFIEC 041 version of the report of condition. Nothing in this part shall be construed to limit the Board's authority to obtain information from a state member bank. (b) Nothing in this subpart limits the authority of the Board under any other provision of law or regulation to take supervisory or enforcement action, including action to address unsafe or unsound practices or conditions or violations of law. Sec. Appendixes A-B to Part 208 [Reserved] Sec. Appendix C to Part 208--Interagency Guidelines for Real Estate Lending Policies The agencies' regulations require that each insured depository institution adopt and [[Page 246]] maintain a written policy that establishes appropriate limits and standards for all extensions of credit that are secured by liens on or interests in real estate or made for the purpose of financing the construction of a building or other improvements. \1\ These guidelines are intended to assist institutions in the formulation and maintenance of a real estate lending policy that is appropriate to the size of the institution and the nature and scope of its individual operations, as well as satisfies the requirements of the regulation. --------------------------------------------------------------------------- \1\ The agencies have adopted a uniform rule on real estate lending. See 12 CFR part 365 (FDIC); 12 CFR part 208, subpart E (FRB); 12 CFR part 34, subpart D (OCC); and 12 CFR 563.100-101 (OTS). --------------------------------------------------------------------------- Each institution's policies must be comprehensive, and consistent with safe and sound lending practices, and must ensure that the institution operates within limits and according to standards that are reviewed and approved at least annually by the board of directors. Real estate lending is an integral part of many institutions' business plans and, when undertaken in a prudent manner, will not be subject to examiner criticism. Loan Portfolio Management Considerations The lending policy should contain a general outline of the scope and distribution of the institution's credit facilities and the manner in which real estate loans are made, serviced, and collected. In particular, the institution's policies on real estate lending should: Identify the geographic areas in which the institution will consider lending. Establish a loan portfolio diversification policy and set limits for real estate loans by type and geographic market (e.g., limits on higher risk loans). Identify appropriate terms and conditions by type of real estate loan. Establish loan origination and approval procedures, both generally and by size and type of loan. Establish prudent underwriting standards that are clear and measurable, including loan-to-value limits, that are consistent with these supervisory guidelines. Establish review and approval procedures for exception loans, including loans with loan-to-value percentages in excess of supervisory limits. Establish loan administration procedures, including documentation, disbursement, collateral inspection, collection, and loan review. Establish real estate appraisal and evaluation programs. Require that management monitor the loan portfolio and provide timely and adequate reports to the board of directors. The institution should consider both internal and external factors in the formulation of its loan policies and strategic plan. Factors that should be considered include: The size and financial condition of the institution. The expertise and size of the lending staff. The need to avoid undue concentrations of risk. Compliance with all real estate related laws and regulations, including the Community Reinvestment Act, anti- discrimination laws, and for savings associations, the Qualified Thrift Lender test. Market conditions. The institution should monitor conditions in the real estate markets in its lending area so that it can react quickly to changes in market conditions that are relevant to its lending decisions. Market supply and demand factors that should be considered include: Demographic indicators, including population and employment trends. Zoning requirements. Current and projected vacancy, construction, and absorption rates. Current and projected lease terms, rental rates, and sales prices, including concessions. Current and projected operating expenses for different types of projects. Economic indicators, including trends and diversification of the lending area. Valuation trends, including discount and direct capitalization rates. Underwriting Standards Prudently underwritten real estate loans should reflect all relevant credit factors, including: The capacity of the borrower, or income from the underlying property, to adequately service the debt. The value of the mortgaged property. The overall creditworthiness of the borrower. The level of equity invested in the property. Any secondary sources of repayment. Any additional collateral or credit enhancements (such as guarantees, mortgage insurance or takeout commitments). The lending policies should reflect the level of risk that is acceptable to the board of directors and provide clear and measurable underwriting standards that enable the institution's lending staff to evaluate these credit factors. The underwriting standards should address: [[Page 247]] The maximum loan amount by type of property. Maximum loan maturities by type of property. Amortization schedules. Pricing structure for different types of real estate loans. Loan-to-value limits by type of property. For development and construction projects, and completed commercial properties, the policy should also establish, commensurate with the size and type of the project or property: Requirements for feasibility studies and sensitivity and risk analyses (e.g., sensitivity of income projections to changes in economic variables such as interest rates, vacancy rates, or operating expenses). Minimum requirements for initial investment and maintenance of hard equity by the borrower (e.g., cash or unencumbered investment in the underlying property). Minimum standards for net worth, cash flow, and debt service coverage of the borrower or underlying property. Standards for the acceptability of and limits on non-amortizing loans. Standards for the acceptability of and limits on the use of interest reserves. Pre-leasing and pre-sale requirements for income- producing property. Pre-sale and minimum unit release requirements for non-income-producing property loans. Limits on partial recourse or nonrecourse loans and requirements for guarantor support. Requirements for takeout commitments. Minimum covenants for loan agreements. Loan Administration The institution should also establish loan administration procedures for its real estate portfolio that address: Documentation, including: Type and frequency of financial statements, including requirements for verification of information provided by the borrower; Type and frequency of collateral evaluations (appraisals and other estimates of value). Loan closing and disbursement. Payment processing. Escrow administration. Collateral administration. Loan payoffs. Collections and foreclosure, including: Delinquency follow-up procedures; Foreclosure timing; Extensions and other forms of forbearance; Acceptance of deeds in lieu of foreclosure. Claims processing (e.g., seeking recovery on a defaulted loan covered by a government guaranty or insurance program). Servicing and participation agreements. Supervisory Loan-to-Value Limits Institutions should establish their own internal loan-to-value limits for real estate loans. These internal limits should not exceed the following supervisory limits: ------------------------------------------------------------------------ Loan-to- value Loan category limit (percent) ------------------------------------------------------------------------ Raw land.................................................... 65 Land development............................................ 75 Construction: Commercial, multifamily, \1\ and other nonresidential... 80 1- to 4-family residential.............................. 85 Improved property........................................... 85 Owner-occupied 1- to 4-family and home equity............... (\2\) ------------------------------------------------------------------------ \1\ Multifamily construction includes condominiums and cooperatives. \2\ A loan-to-value limit has not been established for permanent mortgage or home equity loans on owner-occupied, 1- to 4-family residential property. However, for any such loan with a loan-to-value ratio that equals or exceeds 90 percent at origination, an institution should require appropriate credit enhancement in the form of either mortgage insurance or readily marketable collateral. The supervisory loan-to-value limits should be applied to the underlying property that collateralizes the loan. For loans that fund multiple phases of the same real estate project (e.g., a loan for both land development and construction of an office building), the appropriate loan-to-value limit is the limit applicable to the final phase of the project funded by the loan; however, loan disbursements should not exceed actual development or construction outlays. In situations where a loan is fully cross-collateralized by two or more properties or is secured by a collateral pool of two or more properties, the appropriate maximum loan amount under supervisory loan-to-value limits is the sum of the value of each property, less senior liens, multiplied by the appropriate loan-to-value limit for each property. To ensure that collateral margins remain within the supervisory limits, lenders should redetermine conformity whenever collateral substitutions are made to the collateral pool. In establishing internal loan-to-value limits, each lender is expected to carefully consider the institution-specific and market factors listed under ``Loan Portfolio Management Considerations,'' as well as any other relevant factors, such as the particular subcategory or type of loan. For any subcategory of loans that exhibits greater credit risk than the overall category, a lender should consider the establishment of an internal loan-to-value limit for that subcategory that is lower than the limit for the overall category. [[Page 248]] The loan-to-value ratio is only one of several pertinent credit factors to be considered when underwriting a real estate loan. Other credit factors to be taken into account are highlighted in the ``Underwriting Standards'' section above. Because of these other factors, the establishment of these supervisory limits should not be interpreted to mean that loans at these levels will automatically be considered sound. Loans in Excess of the Supervisory Loan-to-Value Limits The agencies recognize that appropriate loan-to-value limits vary not only among categories of real estate loans but also among individual loans. Therefore, it may be appropriate in individual cases to originate or purchase loans with loan-to-value ratios in excess of the supervisory loan-to-value limits, based on the support provided by other credit factors. Such loans should be identified in the institutions's records, and their aggregate amount reported at least quarterly to the institution's board of directors. (See additional reporting requirements described under ``Exceptions to the General Policy.'') The aggregate amount of all loans in excess of the supervisory loan- to-value limits should not exceed 100 percent of total capital. \2\ Moreover, within the aggregate limit, total loans for all commercial, agricultural, multifamily or other non-1-to-4 family residential properties should not exceed 30 percent of total capital. An institution will come under increased supervisory scrutiny as the total of such loans approaches these levels. --------------------------------------------------------------------------- \2\ For advanced approaches banks (as defined in 12 CFR 208.41) and, after January 1, 2015, for all state member banks, the term ``total capital'' refers to that term as defined in subpart A of 12 CFR part 217. For insured state nonmember banks and state savings associations, ``total capital'' refers to that term defined in subpart A of 12 CFR part 324. For national banks and Federal savings associations, the term ``total capital'' refers to that term as defined in subpart A of 12 CFR part 3. Prior to January 1, 2015, for state member banks that are not advanced approaches banks (as defined in 12 CFR 208.41), the term ``total capital'' means ``total risk-based capital'' as defined in appendix A to 12 CFR part 208. For insured state non-member banks, ``total capital'' refers to that term described in table I of appendix A to 12 CFR part 325. For national banks, the term ``total capital'' is defined at 12 CFR 3.2(e). For savings associations, the term ``total capital'' is defined at 12 CFR 567.5(c). --------------------------------------------------------------------------- In determining the aggregate amount of such loans, institutions should: (a) Include all loans secured by the same property if any one of those loans exceeds the supervisory loan-to-value limits; and (b) include the recourse obligation of any such loan sold with recourse. Conversely, a loan should no longer be reported to the directors as part of aggregate totals when reduction in principal or senior liens, or additional contribution of collateral or equity (e.g., improvements to the real property securing the loan), bring the loan-to-value ratio into compliance with supervisory limits. Excluded Transactions The agencies also recognize that there are a number of lending situations in which other factors significantly outweigh the need to apply the supervisory loan-to-value limits. These include: Loans guaranteed or insured by the U.S. government or its agencies, provided that the amount of the guaranty or insurance is at least equal to the portion of the loan that exceeds the supervisory loan-to-value limit. Loans backed by the full faith and credit of a state government, provided that the amount of the assurance is at least equal to the portion of the loan that exceeds the supervisory loan-to- value limit. Loans guaranteed or insured by a state, municipal or local government, or an agency thereof, provided that the amount of the guaranty or insurance is at least equal to the portion of the loan that exceeds the supervisory loan-to-value limit, and provided that the lender has determined that the guarantor or insurer has the financial capacity and willingness to perform under the terms of the guaranty or insurance agreement. Loans that are to be sold promptly after origination, without recourse, to a financially responsible third party. Loans that are renewed, refinanced, or restructured without the advancement of new funds or an increase in the line of credit (except for reasonable closing costs), or loans that are renewed, refinanced, or restructured in connection with a workout situation, either with or without the advancement of new funds, where consistent with safe and sound banking practices and part of a clearly defined and well-documented program to achieve orderly liquidation of the debt, reduce risk of loss, or maximize recovery on the loan. Loans that facilitate the sale of real estate acquired by the lender in the ordinary course of collecting a debt previously contracted in good faith. Loans for which a lien on or interest in real property is taken as additional collateral through an abundance of caution by the lender (e.g., the institution takes a blanket lien on all or substantially all of the assets of the borrower, and the value of the real property is low relative to the aggregate value of all other collateral). [[Page 249]] Loans, such as working capital loans, where the lender does not rely principally on real estate as security and the extension of credit is not used to acquire, develop, or construct permanent improvements on real property. Loans for the purpose of financing permanent improvements to real property, but not secured by the property, if such security interest is not required by prudent underwriting practice. Exceptions to the General Lending Policy Some provision should be made for the consideration of loan requests from creditworthy borrowers whose credit needs do not fit within the institution's general lending policy. An institution may provide for prudently underwritten exceptions to its lending policies, including loan-to-value limits, on a loan-by-loan basis. However, any exceptions from the supervisory loan-to-value limits should conform to the aggregate limits on such loans discussed above. The board of directors is responsible for establishing standards for the review and approval of exception loans. Each institution should establish an appropriate internal process for the review and approval of loans that do not conform to its own internal policy standards. The approval of any such loan should be supported by a written justification that clearly sets forth all of the relevant credit factors that support the underwriting decision. The justification and approval documents for such loans should be maintained as a part of the permanent loan file. Each institution should monitor compliance with its real estate lending policy and individually report exception loans of a significant size to its board of directors. Supervisory Review of Real Estate Lending Policies and Practices The real estate lending policies of institutions will be evaluated by examiners during the course of their examinations to determine if the policies are consistent with safe and sound lending practices, these guidelines, and the requirements of the regulation. In evaluating the adequacy of the institution's real estate lending policies and practices, examiners will take into consideration the following factors: The nature and scope of the institution's real estate lending activities. The size and financial condition of the institution. The quality of the institution's management and internal controls. The expertise and size of the lending and loan administration staff. Market conditions. Lending policy exception reports will also be reviewed by examiners during the course of their examinations to determine whether the institutions' exceptions are adequately documented and appropriate in light of all of the relevant credit considerations. An excessive volume of exceptions to an institution's real estate lending policy may signal a weakening of its underwriting practices, or may suggest a need to revise the loan policy. Definitions For the purposes of these Guidelines: Construction loan means an extension of credit for the purpose of erecting or rehabilitating buildings or other structures, including any infrastructure necessary for development. Extension of credit or loan means: (1) The total amount of any loan, line of credit, or other legally binding lending commitment with respect to real property; and (2) The total amount, based on the amount of consideration paid, of any loan, line of credit, or other legally binding lending commitment acquired by a lender by purchase, assignment, or otherwise. Improved property loan means an extension of credit secured by one of the following types of real property: (1) Farmland, ranchland or timberland committed to ongoing management and agricultural production; (2) 1- to 4-family residential property that is not owner-occupied; (3) Residential property containing five or more individual dwelling units; (4) Completed commercial property; or (5) Other income-producing property that has been completed and is available for occupancy and use, except income-producing owner-occupied 1- to 4-family residential property. Land development loan means an extension of credit for the purpose of improving unimproved real property prior to the erection of structures. The improvement of unimproved real property may include the laying or placement of sewers, water pipes, utility cables, streets, and other infrastructure necessary for future development. Loan origination means the time of inception of the obligation to extend credit (i.e., when the last event or prerequisite, controllable by the lender, occurs causing the lender to become legally bound to fund an extension of credit). Loan-to-value or loan-to-value ratio means the percentage or ratio that is derived at the time of loan origination by dividing an extension of credit by the total value of the property(ies) securing or being improved by the extension of credit plus the amount of any readily marketable collateral and other acceptable collateral that secures the extension of credit. The total amount of all senior liens on or interests in such property(ies) should be included in determining the loan-to-value ratio. When mortgage insurance or collateral is used in the calculation of the [[Page 250]] loan-to-value ratio, and such credit enhancement is later released or replaced, the loan-to-value ratio should be recalculated. Other acceptable collateral means any collateral in which the lender has a perfected security interest, that has a quantifiable value, and is accepted by the lender in accordance with safe and sound lending practices. Other acceptable collateral should be appropriately discounted by the lender consistent with the lender's usual practices for making loans secured by such collateral. Other acceptable collateral includes, among other items, unconditional irrevocable standby letters of credit for the benefit of the lender. Owner-occupied, when used in conjunction with the term 1- to 4- family residential property means that the owner of the underlying real property occupies at least one unit of the real property as a principal residence of the owner. Readily marketable collateral means insured deposits, financial instruments, and bullion in which the lender has a perfected interest. Financial instruments and bullion must be salable under ordinary circumstances with reasonable promptness at a fair market value determined by quotations based on actual transactions, on an auction or similarly available daily bid and ask price market. Readily marketable collateral should be appropriately discounted by the lender consistent with the lender's usual practices for making loans secured by such collateral. Value means an opinion or estimate, set forth in an appraisal or evaluation, whichever may be appropriate, of the market value of real property, prepared in accordance with the agency's appraisal regulations and guidance. For loans to purchase an existing property, the term ``value'' means the lesser of the actual acquisition cost or the estimate of value. 1- to 4-family residential property means property containing fewer than five individual dwelling units, including manufactured homes permanently affixed to the underlying property (when deemed to be real property under state law). [57 FR 62896, 62900, Dec. 31, 1992; 58 FR 4460, Jan. 14, 1993; 63 FR 58621, Nov. 2, 1998; 78 FR 62284, Oct. 11, 2013] Sec. Appendix D-1 to Part 208--Interagency Guidelines Establishing Standards for Safety and Soundness Table of Contents I. Introduction A. Preservation of existing authority. B. Definitions. II. Operational and Managerial Standards A. Internal controls and information systems. B. Internal audit system. C. Loan documentation. D. Credit underwriting. E. Interest rate exposure. F. Asset growth. G. Asset quality. H. Earnings. I. Compensation, fees and benefits. III. Prohibition on Compensation That Constitutes an Unsafe and Unsound Practice A. Excessive compensation. B. Compensation leading to material financial loss. I. Introduction i. Section 39 of the Federal Deposit Insurance Act \1\ (FDI Act) requires each Federal banking agency (collectively, the agencies) to establish certain safety and soundness standards by regulation or by guideline for all insured depository institutions. Under section 39, the agencies must establish three types of standards: (1) Operational and managerial standards; (2) compensation standards; and (3) such standards relating to asset quality, earnings, and stock valuation as they determine to be appropriate. --------------------------------------------------------------------------- \1\ Section 39 of the Federal Deposit Insurance Act (12 U.S.C. 1831p-1) was added by section 132 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), Pub. L. 102-242, 105 Stat. 2236 (1991), and amended by section 956 of the Housing and Community Development Act of 1992, Pub. L. 102-550, 106 Stat. 3895 (1992) and section 318 of the Riegle Community Development and Regulatory Improvement Act of 1994, Pub. L. 103-325, 108 Stat. 2160 (1994). --------------------------------------------------------------------------- ii. Section 39(a) requires the agencies to establish operational and managerial standards relating to: (1) Internal controls, information systems and internal audit systems, in accordance with section 36 of the FDI Act (12 U.S.C. 1831m); (2) loan documentation; (3) credit underwriting; (4) interest rate exposure; (5) asset growth; and (6) compensation, fees, and benefits, in accordance with subsection (c) of section 39. Section 39(b) requires the agencies to establish standards relating to asset quality, earnings, and stock valuation that the agencies determine to be appropriate. iii. Section 39(c) requires the agencies to establish standards prohibiting as an unsafe and unsound practice any compensatory arrangement that would provide any executive officer, employee, director, or principal shareholder of the institution with excessive compensation, fees or benefits and any compensatory arrangement that could lead to [[Page 251]] material financial loss to an institution. Section 39(c) also requires that the agencies establish standards that specify when compensation is excessive. iv. If an agency determines that an institution fails to meet any standard established by guideline under subsection (a) or (b) of section 39, the agency may require the institution to submit to the agency an acceptable plan to achieve compliance with the standard. In the event that an institution fails to submit an acceptable plan within the time allowed by the agency or fails in any material respect to implement an accepted plan, the agency must, by order, require the institution to correct the deficiency. The agency may, and in some cases must, take other supervisory actions until the deficiency has been corrected. v. The agencies have adopted amendments to their rules and regulations to establish deadlines for submission and review of compliance plans. \2\ --------------------------------------------------------------------------- \2\ For the Office of the Comptroller of the Currency, these regulations appear at 12 CFR Part 30; for the Board of Governors of the Federal Reserve System, these regulations appear at 12 CFR Part 263; for the Federal Deposit Insurance Corporation, these regulations appear at 12 CFR Part 308, subpart R, and for the Office of Thrift Supervision, these regulations appear at 12 CFR Part 570. --------------------------------------------------------------------------- vi. The following Guidelines set out the safety and soundness standards that the agencies use to identify and address problems at insured depository institutions before capital becomes impaired. The agencies believe that the standards adopted in these Guidelines serve this end without dictating how institutions must be managed and operated. These standards are designed to identify potential safety and soundness concerns and ensure that action is taken to address those concerns before they pose a risk to the deposit insurance funds. A. Preservation of Existing Authority Neither section 39 nor these Guidelines in any way limits the authority of the agencies to address unsafe or unsound practices, violations of law, unsafe or unsound conditions, or other practices. Action under section 39 and these Guidelines may be taken independently of, in conjunction with, or in addition to any other enforcement action available to the agencies. Nothing in these Guidelines limits the authority of the FDIC pursuant to section 38(i)(2)(F) of the FDI Act (12 U.S.C. 1831(o)) and Part 325 of title 12 of the Code of Federal Regulations. B. Definitions 1. In general. For purposes of these Guidelines, except as modified in the Guidelines or unless the context otherwise requires, the terms used have the same meanings as set forth in sections 3 and 39 of the FDI Act (12 U.S.C. 1813 and 1831p-1). 2. Board of directors, in the case of a state-licensed insured branch of a foreign bank and in the case of a federal branch of a foreign bank, means the managing official in charge of the insured foreign branch. 3. Compensation means all direct and indirect payments or benefits, both cash and non-cash, granted to or for the benefit of any executive officer, employee, director, or principal shareholder, including but not limited to payments or benefits derived from an employment contract, compensation or benefit agreement, fee arrangement, perquisite, stock option plan, postemployment benefit, or other compensatory arrangement. 4. Director shall have the meaning described in 12 CFR 215.2(c). \3\ --------------------------------------------------------------------------- \3\ In applying these definitions for savings associations, pursuant to 12 U.S.C. 1464, savings associations shall use the terms ``savings association'' and ``insured savings association'' in place of the terms ``member bank'' and ``insured bank''. --------------------------------------------------------------------------- 5. Executive officer shall have the meaning described in 12 CFR 215.2(d). \4\ --------------------------------------------------------------------------- \4\ See footnote 3 in section I.B.4. of this appendix. --------------------------------------------------------------------------- 6. Principal shareholder shall have the meaning described in 12 CFR 215.2(l). \5\ --------------------------------------------------------------------------- \5\ See footnote 3 in section I.B.4. of this appendix. --------------------------------------------------------------------------- II. Operational and Managerial Standards A. Internal controls and information systems. An institution should have internal controls and information systems that are appropriate to the size of the institution and the nature, scope and risk of its activities and that provide for: 1. An organizational structure that establishes clear lines of authority and responsibility for monitoring adherence to established policies; 2. Effective risk assessment; 3. Timely and accurate financial, operational and regulatory reports; 4. Adequate procedures to safeguard and manage assets; and 5. Compliance with applicable laws and regulations. B. Internal audit system. An institution should have an internal audit system that is appropriate to the size of the institution and the nature and scope of its activities and that provides for: 1. Adequate monitoring of the system of internal controls through an internal audit function. For an institution whose size, complexity or scope of operations does not warrant a full scale internal audit function, a [[Page 252]] system of independent reviews of key internal controls may be used; 2. Independence and objectivity; 3. Qualified persons; 4. Adequate testing and review of information systems; 5. Adequate documentation of tests and findings and any corrective actions; 6. Verification and review of management actions to address material weaknesses; and 7. Review by the institution's audit committee or board of directors of the effectiveness of the internal audit systems. C. Loan documentation. An institution should establish and maintain loan documentation practices that: 1. Enable the institution to make an informed lending decision and to assess risk, as necessary, on an ongoing basis; 2. Identify the purpose of a loan and the source of repayment, and assess the ability of the borrower to repay the indebtedness in a timely manner; 3. Ensure that any claim against a borrower is legally enforceable; 4. Demonstrate appropriate administration and monitoring of a loan; and 5. Take account of the size and complexity of a loan. D. Credit underwriting. An institution should establish and maintain prudent credit underwriting practices that: 1. Are commensurate with the types of loans the institution will make and consider the terms and conditions under which they will be made; 2. Consider the nature of the markets in which loans will be made; 3. Provide for consideration, prior to credit commitment, of the borrower's overall financial condition and resources, the financial responsibility of any guarantor, the nature and value of any underlying collateral, and the borrower's character and willingness to repay as agreed; 4. Establish a system of independent, ongoing credit review and appropriate communication to management and to the board of directors; 5. Take adequate account of concentration of credit risk; and 6. Are appropriate to the size of the institution and the nature and scope of its activities. E. Interest rate exposure. An institution should: 1. Manage interest rate risk in a manner that is appropriate to the size of the institution and the complexity of its assets and liabilities; and 2. Provide for periodic reporting to management and the board of directors regarding interest rate risk with adequate information for management and the board of directors to assess the level of risk. F. Asset growth. An institution's asset growth should be prudent and consider: 1. The source, volatility and use of the funds that support asset growth; 2. Any increase in credit risk or interest rate risk as a result of growth; and 3. The effect of growth on the institution's capital. G. Asset quality. An insured depository institution should establish and maintain a system that is commensurate with the institution's size and the nature and scope of its operations to identify problem assets and prevent deterioration in those assets. The institution should: 1. Conduct periodic asset quality reviews to identify problem assets; 2. Estimate the inherent losses in those assets and establish reserves that are sufficient to absorb estimated losses; 3. Compare problem asset totals to capital; 4. Take appropriate corrective action to resolve problem assets; 5. Consider the size and potential risks of material asset concentrations; and 6. Provide periodic asset reports with adequate information for management and the board of directors to assess the level of asset risk. H. Earnings. An insured depository institution should establish and maintain a system that is commensurate with the institution's size and the nature and scope of its operations to evaluate and monitor earnings and ensure that earnings are sufficient to maintain adequate capital and reserves. The institution should: 1. Compare recent earnings trends relative to equity, assets, or other commonly used benchmarks to the institution's historical results and those of its peers; 2. Evaluate the adequacy of earnings given the size, complexity, and risk profile of the institution's assets and operations; 3. Assess the source, volatility, and sustainability of earnings, including the effect of nonrecurring or extraordinary income or expense; 4. Take steps to ensure that earnings are sufficient to maintain adequate capital and reserves after considering the institution's asset quality and growth rate; and 5. Provide periodic earnings reports with adequate information for management and the board of directors to assess earnings performance. I. Compensation, fees and benefits. An institution should maintain safeguards to prevent the payment of compensation, fees, and benefits that are excessive or that could lead to material financial loss to the institution. III. Prohibition on Compensation That Constitutes an Unsafe and Unsound Practice A. Excessive Compensation Excessive compensation is prohibited as an unsafe and unsound practice. Compensation [[Page 253]] shall be considered excessive when amounts paid are unreasonable or disproportionate to the services performed by an executive officer, employee, director, or principal shareholder, considering the following: 1. The combined value of all cash and non-cash benefits provided to the individual; 2. The compensation history of the individual and other individuals with comparable expertise at the institution; 3. The financial condition of the institution; 4. Comparable compensation practices at comparable institutions, based upon such factors as asset size, geographic location, and the complexity of the loan portfolio or other assets; 5. For postemployment benefits, the projected total cost and benefit to the institution; 6. Any connection between the individual and any fraudulent act or omission, breach of trust or fiduciary duty, or insider abuse with regard to the institution; and 7. Any other factors the agencies determines to be relevant. B. Compensation Leading to Material Financial Loss Compensation that could lead to material financial loss to an institution is prohibited as an unsafe and unsound practice. [60 FR 35678, 35682, July 10, 1995, as amended by Reg. H, 61 FR 43951, Aug. 27, 1996] Sec. Appendix D-2 to Part 208--Interagency Guidelines Establishing Information Security Standards Table of Contents I. Introduction A. Scope B. Preservation of Existing Authority C. Definitions II. Standards for Safeguarding Customer Information A. Information Security Program B. Objectives III. Development and Implementation of Customer Information Security Program A. Involve the Board of Directors B. Assess Risk C. Manage and Control Risk D. Oversee Service Provider Arrangements E. Adjust the Program F. Report to the Board G. Implement the Standards I. Introduction These Interagency Guidelines Establishing Standards for Safeguarding Customer Information (Guidelines) set forth standards pursuant to sections 501 and 505 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801 and 6805), in the same manner, to the extent practicable, as standards prescribed pursuant to section 39 of the Federal Deposit Insurance Act (12 U.S.C. 1831p-1). These Guidelines address standards for developing and implementing administrative, technical, and physical safeguards to protect the security, confidentiality, and integrity of customer information. These Guidelines also address standards with respect to the proper disposal of consumer information, pursuant to sections 621 and 628 of the Fair Credit Reporting Act (15 U.S.C. 1681s and 1681w). A. Scope. The Guidelines apply to customer information maintained by or on behalf of state member banks (banks) and their nonbank subsidiaries, except for brokers, dealers, persons providing insurance, investment companies, and investment advisors. Pursuant to Sec. Sec. 211.9 and 211.24 of this chapter, these guidelines also apply to customer information maintained by or on behalf of Edge corporations, agreement corporations, and uninsured state-licensed branches or agencies of a foreign bank. These Guidelines also apply to the proper disposal of consumer information by or on behalf of such entities. B. Preservation of Existing Authority. Neither section 39 nor these Guidelines in any way limit the authority of the Board to address unsafe or unsound practices, violations of law, unsafe or unsound conditions, or other practices. The Board may take action under section 39 and these Guidelines independently of, in conjunction with, or in addition to, any other enforcement action available to the Board. C. Definitions. 1. Except as modified in the Guidelines, or unless the context otherwise requires, the terms used in these Guidelines have the same meanings as set forth in sections 3 and 39 of the Federal Deposit Insurance Act (12 U.S.C. 1813 and 1831p-1). 2. For purposes of the Guidelines, the following definitions apply: a. Board of directors, in the case of a branch or agency of a foreign bank, means the managing official in charge of the branch or agency. b. Consumer information means any record about an individual, whether in paper, electronic, or other form, that is a consumer report or is derived from a consumer report and that is maintained or otherwise possessed by or on behalf of the bank for a business purpose. Consumer information also means a compilation of such records. The term does not include any record that does not identify an individual. i. Examples. (1) Consumer information includes: (A) A consumer report that a bank obtains; (B) Information from a consumer report that the bank obtains from its affiliate after the consumer has been given a notice and has elected not to opt out of that sharing; [[Page 254]] (C) Information from a consumer report that the bank obtains about an individual who applies for but does not receive a loan, including any loan sought by an individual for a business purpose; (D) Information from a consumer report that the bank obtains about an individual who guarantees a loan (including a loan to a business entity); or (E) Information from a consumer report that the bank obtains about an employee or prospective employee. (2) Consumer information does not include: (A) Aggregate information, such as the mean credit score, derived from a group of consumer reports; or (B) Blind data, such as payment history on accounts that are not personally identifiable, that may be used for developing credit scoring models or for other purposes. c. Consumer report has the same meaning as set forth in the Fair Credit Reporting Act, 15 U.S.C. 1681a(d). d. Customer means any customer of the bank as defined in Sec. 1016.3(i) of this chapter. e. Customer information means any record containing nonpublic personal information, as defined in Sec. 1016.3(p) of this chapter, about a customer, whether in paper, electronic, or other form, that is maintained by or on behalf of the bank. f. Customer information systems means any methods used to access, collect, store, use, transmit, protect, or dispose of customer information. g. Service provider means any person or entity that maintains, processes, or otherwise is permitted access to customer information or consumer information through its provision of services directly to the bank. h. Subsidiary means any company controlled by a bank, except a broker, dealer, person providing insurance, investment company, investment advisor, insured depository institution, or subsidiary of an insured depository institution. II. Standards for Information Security A. Information Security Program. Each bank shall implement a comprehensive written information security program that includes administrative, technical, and physical safeguards appropriate to the size and complexity of the bank and the nature and scope of its activities. While all parts of the bank are not required to implement a uniform set of policies, all elements of the information security program must be coordinated. A bank also shall ensure that each of its subsidiaries is subject to a comprehensive information security program. The bank may fulfill this requirement either by including a subsidiary within the scope of the bank's comprehensive information security program or by causing the subsidiary to implement a separate comprehensive information security program in accordance with the standards and procedures in sections II and III of this appendix that apply to banks. B. Objectives. A bank's information security program shall be designed to: 1. Ensure the security and confidentiality of customer information; 2. Protect against any anticipated threats or hazards to the security or integrity of such information; 3. Protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer; and 4. Ensure the proper disposal of customer information and consumer information. III. Development and Implementation of Information Security Program A. Involve the Board of Directors. The board of directors or an appropriate committee of the board of each bank shall: 1. Approve the bank's written information security program; and 2. Oversee the development, implementation, and maintenance of the bank's information security program, including assigning specific responsibility for its implementation and reviewing reports from management. B. Assess Risk. Each bank shall: 1. Identify reasonably foreseeable internal and external threats that could result in unauthorized disclosure, misuse, alteration, or destruction of customer information or customer information systems. 2. Assess the likelihood and potential damage of these threats, taking into consideration the sensitivity of customer information. 3. Assess the sufficiency of policies, procedures, customer information systems, and other arrangements in place to control risks. C. Manage and Control Risk. Each bank shall: 1. Design its information security program to control the identified risks, commensurate with the sensitivity of the information as well as the complexity and scope of the bank's activities. Each bank must consider whether the following security measures are appropriate for the bank and, if so, adopt those measures the bank concludes are appropriate: a. Access controls on customer information systems, including controls to authenticate and permit access only to authorized individuals and controls to prevent employees from providing customer information to unauthorized individuals who may seek to obtain this information through fraudulent means. b. Access restrictions at physical locations containing customer information, such as buildings, computer facilities, and records storage facilities to permit access only to authorized individuals; [[Page 255]] c. Encryption of electronic customer information, including while in transit or in storage on networks or systems to which unauthorized individuals may have access; d. Procedures designed to ensure that customer information system modifications are consistent with the bank's information security program; e. Dual control procedures, segregation of duties, and employee background checks for employees with responsibilities for or access to customer information; f. Monitoring systems and procedures to detect actual and attempted attacks on or intrusions into customer information systems; g. Response programs that specify actions to be taken when the bank suspects or detects that unauthorized individuals have gained access to customer information systems, including appropriate reports to regulatory and law enforcement agencies; and h. Measures to protect against destruction, loss, or damage of customer information due to potential environmental hazards, such as fire and water damage or technological failures. 2. Train staff to implement the bank's information security program. 3. Regularly test the key controls, systems and procedures of the information security program. The frequency and nature of such tests should be determined by the bank's risk assessment. Tests should be conducted or reviewed by independent third parties or staff independent of those that develop or maintain the security programs. 4. Develop, implement, and maintain, as part of its information security program, appropriate measures to properly dispose of customer information and consumer information in accordance with each of the requirements in this paragraph III. D. Oversee Service Provider Arrangements. Each bank shall: 1. Exercise appropriate due diligence in selecting its service providers; 2. Require its service providers by contract to implement appropriate measures designed to meet the objectives of these Guidelines; and 3. Where indicated by the bank's risk assessment, monitor its service providers to confirm that they have satisfied their obligations as required by paragraph D.2. As part of this monitoring, a bank should review audits, summaries of test results, or other equivalent evaluations of its service providers. E. Adjust the Program. Each bank shall monitor, evaluate, and adjust, as appropriate, the information security program in light of any relevant changes in technology, the sensitivity of its customer information, internal or external threats to information, and the bank's own changing business arrangements, such as mergers and acquisitions, alliances and joint ventures, outsourcing arrangements, and changes to customer information systems. F. Report to the Board. Each bank shall report to its board or an appropriate committee of the board at least annually. This report should describe the overall status of the information security program and the bank's compliance with these Guidelines. The reports should discuss material matters related to its program, addressing issues such as: risk assessment; risk management and control decisions; service provider arrangements; results of testing; security breaches or violations and management's responses; and recommendations for changes in the information security program. G. Implement the Standards. 1. Effective date. Each bank must implement an information security program pursuant to these Guidelines by July 1, 2001. 2. Two-year grandfathering of agreements with service providers. Until July 1, 2003, a contract that a bank has entered into with a service provider to perform services for it or functions on its behalf satisfies the provisions of section III.D., even if the contract does not include a requirement that the servicer maintain the security and confidentiality of customer information, as long as the bank entered into the contract on or before March 5, 2001. 3. Effective date for measures relating to the disposal of consumer information. Each bank must satisfy these Guidelines with respect to the proper disposal of consumer information by July 1, 2005. 4. Exception for existing agreements with service providers relating to the disposal of consumer information. Notwithstanding the requirement in paragraph III.G.3., a bank's contracts with its service providers that have access to consumer information and that may dispose of consumer information, entered into before July 1, 2005, must comply with the provisions of the Guidelines relating to the proper disposal of consumer information by July 1, 2006. Supplement A to Appendix D-2 to Part 208--Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice I. Background This Guidance \1\ interprets section 501(b) of the Gramm-Leach- Bliley Act (``GLBA'') and [[Page 256]] the Interagency Guidelines Establishing Information Security Standards (the ``Security Guidelines'') \2\ and describes response programs, including customer notification procedures, that a financial institution should develop and implement to address unauthorized access to or use of customer information that could result in substantial harm or inconvenience to a customer. The scope of, and definitions of terms used in, this Guidance are identical to those of the Security Guidelines. For example, the term ``customer information'' is the same term used in the Security Guidelines, and means any record containing nonpublic personal information about a customer, whether in paper, electronic, or other form, maintained by or on behalf of the institution. --------------------------------------------------------------------------- \1\ This Guidance is being jointly issued by the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). \2\ 12 CFR part 30, app. B (OCC); 12 CFR part 208, app. D-2 and part 225, app. F (Board); 12 CFR part 364, app. B (FDIC); and 12 CFR part 570, app. B (OTS). The ``Interagency Guidelines Establishing Information Security Standards'' were formerly known as ``The Interagency Guidelines Establishing Standards for Safeguarding Customer Information.'' --------------------------------------------------------------------------- A. Interagency Security Guidelines Section 501(b) of the GLBA required the Agencies to establish appropriate standards for financial institutions subject to their jurisdiction that include administrative, technical, and physical safeguards, to protect the security and confidentiality of customer information. Accordingly, the Agencies issued Security Guidelines requiring every financial institution to have an information security program designed to: 1. Ensure the security and confidentiality of customer information; 2. Protect against any anticipated threats or hazards to the security or integrity of such information; and 3. Protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer. B. Risk Assessment and Controls 1. The Security Guidelines direct every financial institution to assess the following risks, among others, when developing its information security program: a. Reasonably foreseeable internal and external threats that could result in unauthorized disclosure, misuse, alteration, or destruction of customer information or customer information systems; b. The likelihood and potential damage of threats, taking into consideration the sensitivity of customer information; and c. The sufficiency of policies, procedures, customer information systems, and other arrangements in place to control risks. \3\ --------------------------------------------------------------------------- \3\ See Security Guidelines, III.B. --------------------------------------------------------------------------- 2. Following the assessment of these risks, the Security Guidelines require a financial institution to design a program to address the identified risks. The particular security measures an institution should adopt will depend upon the risks presented by the complexity and scope of its business. At a minimum, the financial institution is required to consider the specific security measures enumerated in the Security Guidelines, \4\ and adopt those that are appropriate for the institution, including: --------------------------------------------------------------------------- \4\ See Security Guidelines, III.C. --------------------------------------------------------------------------- a. Access controls on customer information systems, including controls to authenticate and permit access only to authorized individuals and controls to prevent employees from providing customer information to unauthorized individuals who may seek to obtain this information through fraudulent means; b. Background checks for employees with responsibilities for access to customer information; and c. Response programs that specify actions to be taken when the financial institution suspects or detects that unauthorized individuals have gained access to customer information systems, including appropriate reports to regulatory and law enforcement agencies. \5\ --------------------------------------------------------------------------- \5\ See Security Guidelines, III.C. --------------------------------------------------------------------------- C. Service Providers The Security Guidelines direct every financial institution to require its service providers by contract to implement appropriate measures designed to protect against unauthorized access to or use of customer information that could result in substantial harm or inconvenience to any customer. \6\ --------------------------------------------------------------------------- \6\ See Security Guidelines, II.B. and III.D. Further, the Agencies note that, in addition to contractual obligations to a financial institution, a service provider may be required to implement its own comprehensive information security program in accordance with the Safeguards Rule promulgated by the Federal Trade Commission (``FTC''), 16 CFR part 314. --------------------------------------------------------------------------- II. Response Program Millions of Americans, throughout the country, have been victims of identity theft. \7\ Identity thieves misuse personal information they obtain from a number of [[Page 257]] sources, including financial institutions, to perpetrate identity theft. Therefore, financial institutions should take preventative measures to safeguard customer information against attempts to gain unauthorized access to the information. For example, financial institutions should place access controls on customer information systems and conduct background checks for employees who are authorized to access customer information. \8\ However, every financial institution should also develop and implement a risk-based response program to address incidents of unauthorized access to customer information in customer information systems \9\ that occur nonetheless. A response program should be a key part of an institution's information security program. \10\ The program should be appropriate to the size and complexity of the institution and the nature and scope of its activities. --------------------------------------------------------------------------- \7\ The FTC estimates that nearly 10 million Americans discovered they were victims of some form of identity theft in 2002. See The Federal Trade Commission, Identity Theft Survey Report, (September 2003), available at http://www.ftc.gov/os/2003/09/synovatereport.pdf. \8\ Institutions should also conduct background checks of employees to ensure that the institution does not violate 12 U.S.C. 1829, which prohibits an institution from hiring an individual convicted of certain criminal offenses or who is subject to a prohibition order under 12 U.S.C. 1818(e)(6). \9\ Under the Guidelines, an institution's customer information systems consist of all of the methods used to access, collect, store, use, transmit, protect, or dispose of customer information, including the systems maintained by its service providers. See Security Guidelines, I.C.2.d (I.C.2.c for OTS). \10\ See FFIEC Information Technology Examination Handbook, Information Security Booklet, Dec. 2002 available at http:// www.ffiec.gov/ffiecinfobase/html_pages/infosec_book_frame.htm. Federal Reserve SR 97-32, Sound Practice Guidance for Information Security for Networks, Dec. 4, 1997; OCC Bulletin 2000-14, ``Infrastructure Threats-- Intrusion Risks'' (May 15, 2000), for additional guidance on preventing, detecting, and responding to intrusions into financial institution computer systems. --------------------------------------------------------------------------- In addition, each institution should be able to address incidents of unauthorized access to customer information in customer information systems maintained by its domestic and foreign service providers. Therefore, consistent with the obligations in the Guidelines that relate to these arrangements, and with existing guidance on this topic issued by the Agencies, \11\ an institution's contract with its service provider should require the service provider to take appropriate actions to address incidents of unauthorized access to the financial institution's customer information, including notification to the institution as soon as possible of any such incident, to enable the institution to expeditiously implement its response program. --------------------------------------------------------------------------- \11\ See Federal Reserve SR Ltr. 00-04, Outsourcing of Information and Transaction Processing, Feb. 9, 2000; OCC Bulletin 2001-47, ``Third- Party Relationships Risk Management Principles,'' Nov. 1, 2001; FDIC FIL 68-99, Risk Assessment Tools and Practices for Information System Security, July 7, 1999; OTS Thrift Bulletin 82a, Third Party Arrangements, Sept. 1, 2004. --------------------------------------------------------------------------- A. Components of a Response Program 1. At a minimum, an institution's response program should contain procedures for the following: a. Assessing the nature and scope of an incident, and identifying what customer information systems and types of customer information have been accessed or misused; b. Notifying its primary Federal regulator as soon as possible when the institution becomes aware of an incident involving unauthorized access to or use of sensitive customer information, as defined below; c. Consistent with the Agencies' Suspicious Activity Report (``SAR'') regulations, \12\ notifying appropriate law enforcement authorities, in addition to filing a timely SAR in [[Page 258]] situations involving Federal criminal violations requiring immediate attention, such as when a reportable violation is ongoing; --------------------------------------------------------------------------- \12\ An institution's obligation to file a SAR is set out in the Agencies' SAR regulations and Agency guidance. See 12 CFR 21.11 (national banks, Federal branches and agencies); 12 CFR 208.62 (State member banks); 12 CFR 211.5(k) (Edge and agreement corporations); 12 CFR 211.24(f) (uninsured State branches and agencies of foreign banks); 12 CFR 225.4(f) (bank holding companies and their nonbank subsidiaries); 12 CFR part 353 (State non-member banks); and 12 CFR 563.180 (savings associations). National banks must file SARs in connection with computer intrusions and other computer crimes. See OCC Bulletin 2000-14, ``Infrastructure Threats--Intrusion Risks'' (May 15, 2000); Advisory Letter 97-9, ``Reporting Computer Related Crimes'' (November 19, 1997) (general guidance still applicable though instructions for new SAR form published in 65 FR 1229, 1230 (January 7, 2000)). See also Federal Reserve SR 01-11, Identity Theft and Pretext Calling, Apr. 26, 2001; SR 97-28, Guidance Concerning Reporting of Computer Related Crimes by Financial Institutions, Nov. 6, 1997; FDIC FIL 48-2000, Suspicious Activity Reports, July 14, 2000; FIL 47-97, Preparation of Suspicious Activity Reports, May 6, 1997; OTS CEO Memorandum 139, Identity Theft and Pretext Calling, May 4, 2001; CEO Memorandum 126, New Suspicious Activity Report Form, July 5, 2000; http://www.ots.treas.gov/BSA (for the latest SAR form and filing instructions required by OTS as of July 1, 2003). --------------------------------------------------------------------------- d. Taking appropriate steps to contain and control the incident to prevent further unauthorized access to or use of customer information, for example, by monitoring, freezing, or closing affected accounts, while preserving records and other evidence;\13\ and --------------------------------------------------------------------------- \13\ See FFIEC Information Technology Examination Handbook, Information Security Booklet, Dec. 2002, pp. 68-74. --------------------------------------------------------------------------- e. Notifying customers when warranted. 2. Where an incident of unauthorized access to customer information involves customer information systems maintained by an institution's service providers, it is the responsibility of the financial institution to notify the institution's customers and regulator. However, an institution may authorize or contract with its service provider to notify the institution's customers or regulator on its behalf. III. Customer Notice Financial institutions have an affirmative duty to protect their customers' information against unauthorized access or use. Notifying customers of a security incident involving the unauthorized access or use of the customer's information in accordance with the standard set forth below is a key part of that duty. Timely notification of customers is important to manage an institution's reputation risk. Effective notice also may reduce an institution's legal risk, assist in maintaining good customer relations, and enable the institution's customers to take steps to protect themselves against the consequences of identity theft. When customer notification is warranted, an institution may not forgo notifying its customers of an incident because the institution believes that it may be potentially embarrassed or inconvenienced by doing so. A. Standard for Providing Notice When a financial institution becomes aware of an incident of unauthorized access to sensitive customer information, the institution should conduct a reasonable investigation to promptly determine the likelihood that the information has been or will be misused. If the institution determines that misuse of its information about a customer has occurred or is reasonably possible, it should notify the affected customer as soon as possible. Customer notice may be delayed if an appropriate law enforcement agency determines that notification will interfere with a criminal investigation and provides the institution with a written request for the delay. However, the institution should notify its customers as soon as notification will no longer interfere with the investigation. 1. Sensitive Customer Information Under the Guidelines, an institution must protect against unauthorized access to or use of customer information that could result in substantial harm or inconvenience to any customer. Substantial harm or inconvenience is most likely to result from improper access to sensitive customer information because this type of information is most likely to be misused, as in the commission of identity theft. For purposes of this Guidance, sensitive customer information means a customer's name, address, or telephone number, in conjunction with the customer's social security number, driver's license number, account number, credit or debit card number, or a personal identification number or password that would permit access to the customer's account. Sensitive customer information also includes any combination of components of customer information that would allow someone to log onto or access the customer's account, such as user name and password or password and account number. 2. Affected Customers If a financial institution, based upon its investigation, can determine from its logs or other data precisely which customers' information has been improperly accessed, it may limit notification to those customers with regard to whom the institution determines that misuse of their information has occurred or is reasonably possible. However, there may be situations where the institution determines that a group of files has been accessed improperly, but is unable to identify which specific customers' information has been accessed. If the circumstances of the unauthorized access lead the institution to determine that misuse of the information is reasonably possible, it should notify all customers in the group. B. Content of Customer Notice 1. Customer notice should be given in a clear and conspicuous manner. The notice should describe the incident in general terms and the type of customer information that was the subject of unauthorized access or use. It also should generally describe what the institution has done to protect the customers' information from further unauthorized access. In addition, it should include a telephone number that customers can call for further information and assistance. \14\ The notice also should remind customers of the [[Page 259]] need to remain vigilant over the next twelve to twenty-four months, and to promptly report incidents of suspected identity theft to the institution. The notice should include the following additional items, when appropriate: --------------------------------------------------------------------------- \14\ The institution should, therefore, ensure that it has reasonable policies and procedures in place, including trained personnel, to respond appropriately to customer inquiries and requests for assistance. --------------------------------------------------------------------------- a. A recommendation that the customer review account statements and immediately report any suspicious activity to the institution; b. A description of fraud alerts and an explanation of how the customer may place a fraud alert in the customer's consumer reports to put the customer's creditors on notice that the customer may be a victim of fraud; c. A recommendation that the customer periodically obtain credit reports from each nationwide credit reporting agency and have information relating to fraudulent transactions deleted; d. An explanation of how the customer may obtain a credit report free of charge; and e. Information about the availability of the FTC's online guidance regarding steps a consumer can take to protect against identity theft. The notice should encourage the customer to report any incidents of identity theft to the FTC, and should provide the FTC's Web site address and toll-free telephone number that customers may use to obtain the identity theft guidance and report suspected incidents of identity theft. \15\ --------------------------------------------------------------------------- \15\ Currently, the FTC Web site for the ID Theft brochure and the FTC Hotline phone number are http://www.consumer.gov/idtheft and 1-877- IDTHEFT. The institution may also refer customers to any materials developed pursuant to section 151(b) of the FACT Act (educational materials developed by the FTC to teach the public how to prevent identity theft). --------------------------------------------------------------------------- 2. The Agencies encourage financial institutions to notify the nationwide consumer reporting agencies prior to sending notices to a large number of customers that include contact information for the reporting agencies. C. Delivery of Customer Notice Customer notice should be delivered in any manner designed to ensure that a customer can reasonably be expected to receive it. For example, the institution may choose to contact all customers affected by telephone or by mail, or by electronic mail for those customers for whom it has a valid e-mail address and who have agreed to receive communications electronically. [Reg. H, 66 FR 8634, Feb. 1, 2001, as amended at 69 FR 77617, Dec. 28, 2004; 70 FR 15753, Mar. 29, 2005; 71 FR 5780, Feb. 3, 2006; 79 FR 37166, July 1, 2014] Sec. Appendixes E-F to Part 208 [Reserved] PART 209_FEDERAL RESERVE BANK CAPITAL STOCK (REGULATION I)--Table of Contents Effective Date Note: At 87 FR 73635, Dec. 1, 2022, part 209 was amended by removing all references to ``$11,229,000,000'' and adding in their place ``$12,124,000,000'' wherever they appear, effective Jan. 3, 2023. Sec. 209.1 Authority, purpose, scope, and definitions. 209.2 Banks desiring to become member banks. 209.3 Cancellation of Reserve Bank stock; mergers involving member banks. 209.4 Amounts and payments for subscriptions and cancellations; timing and rate of dividends. 209.5 The share register. Authority: 12 U.S.C. 12 U.S.C. 222, 248, 282, 286-288, 289, 321, 323, 327-328, and 466. Source: 63 FR 37663, July 13, 1998, unless otherwise noted. Sec. 209.1 Authority, purpose, scope, and definitions. (a) Authority. This part is issued pursuant to 12 U.S.C. 222, 248, 282, 286-288, 289, 321, 323, 327-328, and 466. (b) Purpose. The purpose of this part is to implement the provisions of the Federal Reserve Act relating to the issuance and cancellation of Federal Reserve Bank stock upon becoming or ceasing to be a member bank, or upon changes in the capital and surplus of a member bank, of the Federal Reserve System. This part also implements the provisions of the Federal Reserve Act relating to the payment of dividends to member banks. (c) Scope. This part applies to member banks of the Federal Reserve System, to national banks in process of organization, and to state banks applying for membership. National banks and locally-incorporated banks located in United States dependencies and possessions are eligible (with the consent of the Board) but not required to apply for membership under section 19(h) of the Federal Reserve Act, 12 U.S.C. 466.\1\ --------------------------------------------------------------------------- \1\ A bank located in the Virgin Islands or Puerto Rico should communicate with the Federal Reserve Bank of New York regarding applications for membership under the provisions of section 19(h) of the Federal Reserve Act. A bank located in Guam, American Samoa, or the Northern Mariana Islands should communicate with the Federal Reserve Bank of San Francisco regarding applications for membership under the provisions of section 19(h) of the Federal Reserve Act. --------------------------------------------------------------------------- [[Page 260]] (d) Definitions. For purposes of this part-- (1) Capital Stock and Surplus. Capital stock and surplus of a member bank means the paid-in capital stock \2\ and paid-in surplus of the bank, less any deficit in the aggregate of its retained earnings, gains (losses) on available for sale securities, and foreign currency translation accounts, all as shown on the bank's most recent report of condition. Paid-in capital stock and paid-in surplus of a bank in organization means the amount which is to be paid in at the time the bank commences business. --------------------------------------------------------------------------- \2\ Capital stock includes common stock and preferred stock (including sinking fund preferred stock). --------------------------------------------------------------------------- (2) Dividend proration basis means the use of a 360-day year of 12 30-day months for purposes of computing dividend payments. (3) Total consolidated assets means the total assets on the stockholder's balance sheet as reported by the stockholder on its Consolidated Report of Condition and Income (Call Report) as of the most recent December 31, except in the case of: (i) A new member ``total consolidated assets'' means (until the next December 31 Call Report becomes available) the total consolidated assets of the new member at the time of its application for capital stock; and (ii) A surviving stockholder after a merger ``total consolidated assets'' means (until the next December 31 Call Report becomes available) the total consolidated assets reported by that stockholder pursuant to Sec. 209.3(d)(5). [63 FR 37663, July 13, 1998, as amended by Reg. I, 81 FR 9087, Feb. 24, 2016; 87 FR 2030, Jan. 13, 2022] Sec. 209.2 Banks desiring to become member banks. (a) Application for stock or deposit. Each national bank in process of organization,\3\ each nonmember state bank converting into a national bank, and each nonmember state bank applying for membership in the Federal Reserve System under Regulation H, 12 CFR part 208, shall file with the Federal Reserve Bank (Reserve Bank) in whose district it is located an application for stock (or deposit in the case of mutual savings banks not authorized to purchase Reserve Bank stock \4\) in the Reserve Bank. This application for stock must state whether the applicant's total consolidated assets exceed $11,229,000,000. The bank shall pay for the stock (or deposit) in accordance with Sec. 209.4 of this part. --------------------------------------------------------------------------- \3\ A new national bank organized by the Federal Deposit Insurance Corporation under section 11(n) of the Federal Deposit Insurance Act (12 U.S.C. 1821(n)) should not apply until in the process of issuing stock pursuant to section 11(n)(15) of that act. Reserve Bank approval of such an application shall not be effective until the issuance of a certificate by the Comptroller of the Currency pursuant to section 11(n)(16) of that act. \4\ A mutual savings bank not authorized to purchase Federal Reserve Bank stock may apply for membership evidenced initially by a deposit. (See Sec. 208.3(a) of Regulation H, 12 CFR part 208.) The membership of the savings bank shall be terminated if the laws under which it is organized are not amended to authorize such purchase at the first session of the legislature after its admission, or if it fails to purchase such stock within six months after such an amendment. --------------------------------------------------------------------------- (b) Issuance of stock; acceptance of deposit. Upon authorization to commence business by the Comptroller of the Currency in the case of a national bank in organization or upon approval of conversion by the Comptroller of the Currency in the case of a state nonmember bank converting to a national bank, or when all applicable requirements have been complied with in the case of a state bank approved for membership, the Reserve Bank shall issue the appropriate number of shares by crediting the bank with the appropriate number of shares on its books. In the case of a national or state member bank in organization, such issuance shall be as of the date the bank opens for business. In the case of a mutual savings bank not authorized to purchase Reserve Bank shares, the Reserve Bank shall accept the deposit in place of issuing [[Page 261]] shares. The bank's membership shall become effective on the date of such issuance or acceptance. (c) Location of bank--(1) General rule. For purposes of this part, a national bank or a State bank is located in the Federal Reserve District that contains the location specified in the bank's charter or organizing certificate, or as specified by the institution's primary regulator, or if no such location is specified, the location of its head office, unless otherwise determined by the Board under paragraph (c)(2) of this section. (2) Board determination. If the location of a bank as specified in paragraph (c)(1) of this section, in the judgment of the Board of Governors of the Federal Reserve System (Board), is ambiguous, would impede the ability of the Board or the Reserve Banks to perform their functions under the Federal Reserve Act, or would impede the ability of the bank to operate efficiently, the Board will determine the Federal Reserve District in which the bank is located, after consultation with the bank and the relevant Reserve Banks. The relevant Reserve Banks are the Reserve Bank whose District contains the location specified in paragraph (c)(1) of this section and the Reserve Bank in whose District the bank is proposed to be located. In making this determination, the Board will consider any applicable laws, the business needs of the bank, the location of the bank's head office, the locations where the bank performs its business, and the locations that would allow the bank, the Board, and the Reserve Banks to perform their functions efficiently and effectively. [63 FR 37663, July 13, 1998, as amended at 74 FR 25639, May 29, 2009; Reg. I, 81 FR 9087, Feb. 24, 2016; 82 FR 11502, Feb. 24, 2017; 82 FR 52174, Nov. 13, 2017; 83 FR 58467, Nov. 20, 2018; 84 FR 68326, Dec. 16, 2019; 85 FR 79390, Dec. 10, 2020; 86 FR 69579, Dec. 8, 2021] Sec. 209.3 Cancellation of Reserve Bank stock; mergers involving member banks. (a) Application for cancellation. Any bank that desires to withdraw from membership in the Federal Reserve System (including a national bank that wants to convert into a nonmember bank), voluntarily liquidates or ceases business, is merged or consolidated into a nonmember bank, or is involuntarily liquidated by a receiver or conservator or otherwise, shall promptly file with its Reserve Bank an application for cancellation of all its Reserve Bank stock (or withdrawal of its deposit, as the case may be) and payment therefor in accordance with Sec. 209.4. (b) Involuntary termination of membership. If an application is not filed promptly after a cessation of business by a state member bank, a vote to place a member bank in voluntary liquidation, or the appointment of a receiver for (or a determination to liquidate the bank by a conservator of) a member bank, the Board may, after notice and an opportunity for hearing where required under Section 9(9) of the Federal Reserve Act (12 U.S.C. 327), order the membership of the bank terminated and all of its Reserve Bank stock canceled. (c) Effective date of cancellation. Cancellation in whole of a bank's Reserve Bank capital stock shall be effective, in the case of: (1) Voluntary withdrawal from membership by a state bank, as of the date of such withdrawal; (2) Merger into, consolidation with, or (for a national bank) conversion into, a nonmember bank, as of the effective date of the merger, consolidation, or conversion; and (3) Involuntary termination of membership, as of the date the Board issues the order of termination. (d) Exchange of stock on merger or change in location; stock adjustment upon merger with a nonmember bank; reporting of total consolidated assets following merger--(1) Applications. (i) Before a merger or consolidation of member banks, the nonsurviving member bank shall file an application with the appropriate Reserve Bank to cancel its shares of Reserve Bank stock (or in the case of a mutual savings bank not authorized to purchase Reserve Bank stock, shall file an application to transfer its deposit to the account of the surviving bank) and the surviving member bank shall file an application with the appropriate Reserve Bank for issue of a corresponding number of shares of Reserve Bank stock (or in the [[Page 262]] case of a mutual savings bank not authorized to purchase Reserve Bank stock, shall file an application to increase its deposit obligation). (ii) Before a merger or consolidation of a member bank and a nonmember bank, a surviving member bank shall file an application with the appropriate Reserve Bank to adjust its Reserve Bank capital stock subscription to equal six percent of the member bank's anticipated post- merger capital and surplus, or, in the case of member bank that is a mutual savings bank, six-tenths of 1 percent of the member bank's anticipated post-merger total deposit liabilities. A mutual savings bank not authorized to purchase Reserve Bank stock shall file an application to adjust its deposit obligation in a like manner. (2) Merger of member banks in the same Federal Reserve District. Upon a merger or consolidation of member banks located in the same Federal Reserve District, the Reserve Bank shall cancel the shares of the nonsurviving bank (or in the case of a mutual savings bank not authorized to purchase Reserve Bank stock, shall credit the deposit to the account of the surviving bank) and shall credit the appropriate number of shares on its books to (or in the case of a mutual savings bank not authorized to purchase Reserve Bank stock, shall accept an appropriate increase in the deposit of) the surviving bank, subject to paragraph (d)(3) of Sec. 209.4. (3) Change of location or merger of member banks in different Federal Reserve Districts. Upon a determination under paragraph (c)(2) of Sec. 209.2 that a member bank is located in a Federal Reserve District other than the District of the Reserve Bank of which it is a member, or upon a merger or consolidation of member banks located in different Federal Reserve Districts,-- (i) The Reserve Bank of the member bank's former District, or of the nonsurviving member bank, shall cancel the bank's shares and transfer the amount paid in for those shares, plus accrued dividends (as specified in paragraph (d)(1)(ii) of Sec. 209.4) and subject to paragraph (d)(3) of Sec. 209.4 (or, in the case of a mutual savings bank member not authorized to purchase Federal Reserve Bank stock, the amount of its deposit, adjusted in a like manner), to the Reserve Bank of the bank's new District or of the surviving bank; and (ii) The Reserve Bank of the member bank's new District or of the surviving bank shall issue the appropriate number of shares by crediting the bank with the appropriate number of shares on its books (or, in the case of a mutual savings bank, by accepting the deposit or an appropriate increase in the deposit). (4) Merger with a nonmember bank. Upon a merger or consolidation of a member bank and a nonmember bank, the Reserve Bank will adjust the surviving member bank's stock subscription to equal six percent of the member bank's capital and surplus, or, in the case of a member bank that is a mutual savings bank, six-tenths of 1 percent of the member bank's total deposit liabilities. If a mutual savings bank has a deposit with the appropriate Reserve Bank in lieu of Reserve Bank capital stock, its deposit obligation shall be adjusted in a like manner. (5) Statement of total consolidated assets. When a member bank merges or consolidates with another bank and the surviving bank remains a Reserve Bank stockholder, the surviving stockholder must report whether its total consolidated assets exceed $11,229,000,000 in the application described in paragraph (d)(1) of this section. (e) Voluntary withdrawal. Any bank withdrawing voluntarily from membership shall give 6 months written notice, and shall not cause the withdrawal of more than 25 percent of any Reserve Bank's capital stock in any calendar year, unless the Board waives these requirements. [63 FR 37663, July 13, 1998, as amended by Reg. I, 81 FR 9087, Feb. 24, 2016; 82 FR 11502, Feb. 24, 2017; 82 FR 52174, Nov. 13, 2017; 83 FR 58467, Nov. 20, 2018; 84 FR 68326, Dec. 16, 2019; 85 FR 79390, Dec. 10, 2020; 86 FR 69579, Dec. 8, 2021; 87 FR 2030, Jan. 13, 2022] Sec. 209.4 Amounts and payments for subscriptions and cancellations; timing and rate of dividends. (a) Amount of subscription. The total subscription of a member bank (other than a mutual savings bank) shall [[Page 263]] equal six percent of its capital and surplus as shown on its most recent Call Report. After a member bank files a Call Report, the appropriate Reserve Bank will adjust the member bank's Reserve Bank capital stock subscription to equal six percent of the member bank's capital and surplus. (b) Mutual savings banks. The total subscription of a member bank that is a mutual savings bank shall equal six-tenths of 1 percent of its total deposit liabilities as shown on its most recent Call Report. After a member bank that is a mutual savings bank files a Call Report, the appropriate Reserve Bank will adjust the member bank's Reserve Bank capital stock subscription to equal six-tenths of 1 percent of the member bank's total deposit liabilities. If a mutual savings bank has a deposit with the appropriate Reserve Bank in lieu of Reserve Bank capital stock, its deposit obligation shall be adjusted in a like manner. (c) Payment for subscriptions. (1) When a Reserve Bank issues capital stock to a member bank (or accepts a deposit in lieu thereof), the member bank shall pay the Reserve Bank-- (i) One-half of the subscription amount; and (ii) Accrued dividends equal to the paid-in subscription amount in paragraph (c)(1)(i) of this section multiplied by-- (A) In the case of a bank with total consolidated assets of more than $11,229,000,000, an annual rate equal to the lesser of the high yield of the 10-year Treasury note auctioned at the last auction held prior to the date of the last dividend payment and 6 percent, adjusted to reflect the period from the last dividend payment date to the subscription date according to the dividend proration basis. (B) In the case of a bank with total consolidated assets of $11,229,000,000 or less, 6 percent, adjusted to reflect the period from the last dividend payment date to the subscription date according to the dividend proration basis. (2) A Reserve Bank shall obtain settlement for the payment described in paragraph (c)(1) of this section by debit to an account on the Reserve Bank's books or other form of settlement to which the Reserve Bank agrees. (3) Upon payment (and in the case of a national banks in organization or state nonmember bank converting into a national bank, upon authorization or approval by the Comptroller of the Currency), the Reserve Bank shall issue the appropriate number of shares by crediting the bank with the appropriate number of shares on its books. In the case of a mutual savings bank not authorized to purchase Reserve Bank stock, the Reserve Bank will accept the deposit or addition to the deposit in place of issuing shares. The remaining half of the subscription or additional subscription (including subscriptions for deposits or additions to deposits) shall be subject to call by the Board. (4) If the dividend rate applied at the next scheduled dividend payment date is based on a different annual rate than the rate used to compute the amount of the accrued dividend payment pursuant to paragraph (c)(1)(ii) of this section, the amount of the dividends paid at the next scheduled dividend payment date should be adjusted accordingly. The amount of the adjustment should equal the difference between-- (i) The accrued dividend payment pursuant paragraph (c)(1)(ii) of this section, and (ii) The result of multiplying the subscription amount paid pursuant to paragraph (c)(1)(i) of this section by the dividend rate applied at the next scheduled dividend payment, adjusted to reflect the period from the last dividend payment date to the subscription date according to the dividend proration basis. (d) Payment for cancellations. (1) When a Reserve Bank cancels Reserve Bank capital stock of a member bank, or (in the case of involuntary termination of membership) upon the effective date of cancellation specified in Sec. 209.3(c)(3), the Reserve Bank shall-- (i) Reduce the bank's shareholding on the Reserve Bank's books by the number of shares required to be canceled and shall pay the paid-in subscription of the canceled stock; and (ii) Pay accrued dividends equal to the paid-in subscription of the canceled stock in paragraph (d)(1)(i) of this section multiplied by-- [[Page 264]] (A) In the case of a bank with total consolidated assets of more than $11,229,000,000, an annual rate equal to the lesser of the high yield of the 10-year Treasury note auctioned at the last auction held prior to the date of cancellation and 6 percent, adjusted to reflect the period from the last dividend payment date to the cancellation date according to the dividend proration basis; or (B) In the case of a bank with total consolidated assets of $11,229,000,000 or less, 6 percent, adjusted to reflect the period from the last dividend payment date to the cancellation date according to the dividend proration basis. (2) The sum of the payments under paragraph (d)(1) of this section cannot exceed the book value of the stock.\5\ --------------------------------------------------------------------------- \5\ Under sections 6 and 9(10) of the Act, a Reserve Bank is under no obligation to pay unearned accrued dividends on redemption of its capital stock from an insolvent member bank for which a receiver has been appointed or from state member banks on voluntary withdrawal from or involuntary termination of membership. --------------------------------------------------------------------------- (3) In the case of any cancellation of Reserve Bank stock under this Part, the Reserve Bank may first apply such sum to any liability of the bank to the Reserve Bank and pay over the remainder to the bank (or receiver or conservator, as appropriate). (e) Dividend. (1) After all necessary expenses of a Reserve Bank have been paid or provided for, the stockholders of a Reserve Bank shall be entitled to receive a dividend on paid-in capital stock of-- (i) in the case of a bank with total consolidated assets of more than $11,229,000,000, the lesser of the annual rate equal to the high yield of the 10-year Treasury note auctioned at the last auction held prior to the payment of such dividend and an annual rate of 6 percent, or (ii) in the case of a bank with total consolidated assets of $11,229,000,000 or less, an annual rate of 6 percent. (2) The dividend pursuant to paragraph (e)(1) of this section will be adjusted to reflect the period from the last dividend payment date to the current dividend payment date according to the dividend proration basis. (3) The entitlement to dividends under paragraph (e)(1) of this section shall be cumulative. (f) Annual adjustment to total consolidated assets. The dollar amounts for total consolidated assets specified in paragraphs (c), (d), and (e) of this section and Sec. Sec. 209.2 and 209.3 shall be adjusted annually to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis. [63 FR 37663, July 13, 1998, as amended by Reg. I, 81 FR 9088, Feb. 24, 2016; 82 FR 11502, Feb. 24, 2017; 82 FR 52174, Nov. 13, 2017; 83 FR 58467, Nov. 20, 2018; 84 FR 68326, Dec. 16, 2019; 85 FR 79390, Dec. 10, 2020; 86 FR 69579, Dec. 8, 2021; 87 FR 2030, Jan. 13, 2022] Sec. 209.5 The share register. (a) Electronic or written record. A member bank's holding of Reserve Bank capital stock shall be represented by one (or at the option of the Reserve Bank, more than one) notation on the Reserve Bank's books. Such books may be electronic or in writing. Upon any issue or cancellation of Reserve Bank capital stock, the Reserve Bank shall record the member bank's new share position in its books (or eliminate the bank's share position from its books, as the case may be). (b) Certification. A Reserve Bank may certify on request as to the number of shares held by a member bank and purchased before March 28, 1942, or as to the purchase and cancellation dates and prices of shares cancelled, as the case may be. PART 210_COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS AND FUNDS TRANSFERS THROUGH THE FEDWIRE FUNDS SERVICE AND THE FEDNOW SERVICE (REGULATION J)--Table of Contents Subpart A_Collection of Checks and Other Items By Federal Reserve Banks Sec. 210.1 Authority, purpose, and scope. 210.2 Definitions. 210.3 General provisions. 210.4 Sending items to Reserve Banks. 210.5 Sender's agreement; recovery by Reserve Bank. [[Page 265]] 210.6 Status, warranties, and liability of Reserve Bank. 210.7 Presenting items for payment. 210.8 Presenting noncash items for acceptance. 210.9 Settlement and payment. 210.10 Time schedule and availability of credits for cash items and returned checks. 210.11 Availability of proceeds of noncash items; time schedule 210.12 Return of cash items and handling of returned checks. 210.13 Unpaid items. 210.14 Extension of time limits. 210.15 Direct presentment of certain warrants. Subpart B_Funds Transfers Through the Fedwire Funds Service 210.25 Authority, purpose, and scope. 210.26 Definitions. 210.27 Reliance on identifying number. 210.28 Agreement of sender. 210.29 Agreement of receiving bank. 210.30 Payment orders. 210.31 Payment by a Federal Reserve Bank to a receiving bank or beneficiary. 210.32 Federal Reserve Bank liability; payment of compensation. Appendix A to Subpart B of Part 210--Commentary Subpart C_Funds Transfers Through the FedNow Service 210.40 Authority, purpose, and scope. 210.41 Definitions. 210.42 Reliance on identifying number. 210.43 Agreement of sender. 210.44 Agreement of receiving bank. 210.45 Payment orders. 210.46 Payment by a Federal Reserve Bank to a receiving bank or beneficiary. 210.47 Federal Reserve Bank liability; payment of compensation. Appendix A to Subpart C of Part 210--Commentary Appendix A to Part 210--Article 4A, Funds Transfers Authority: 12 U.S.C. 248(i), (j), and 248-1, 342, 360, 464, 4001- 4010, and 5001-5018. Source: 45 FR 68634, Oct. 16, 1980, unless otherwise noted. Subpart A_Collection of Checks and Other Items By Federal Reserve Banks Sec. 210.1 Authority, purpose, and scope. The Board of Governors of the Federal Reserve System (Board) has issued this subpart pursuant to the Federal Reserve Act, sections 11 (i) and (j) (12 U.S.C. 248 (i) and (j)), section 13 (12 U.S.C. 342), section 16 (12 U.S.C. 248(o) and 360), and section 19(f) (12 U.S.C. 464); the Expedited Funds Availability Act (12 U.S.C. 4001 et seq.); the Check Clearing for the 21st Century Act (12 U.S.C. 5001-5018) and other laws. This subpart governs the collection of checks and other cash and noncash items and the handling of returned checks by Federal Reserve Banks. Its purpose is to provide rules for collecting and returning items and settling balances. [53 FR 21984, June 13, 1988, as amended at Reg. J, 59 FR 22965, May 4, 1994; Reg. J, 69 FR 62557, Oct. 27, 2004] Sec. 210.2 Definitions. As used in this subpart, unless the context otherwise requires: Account means an account on the books of a Federal Reserve Bank. A subaccount is an informational record of a subset of transactions that affect an account and is not a separate account. Actually and finally collected funds means cash or any other form of payment that is, or has become, final and irrevocable. Administrative Reserve Bank with respect to an entity means the Reserve Bank in whose District the entity is located, as determined under the procedure described in Sec. 204.3(g) of this chapter (Regulation D), even if the entity is not otherwise subject to that section. Bank means any person engaged in the business of banking. A branch or separate office of a bank is a separate bank to the extent provided in the Uniform Commercial Code. Bank draft means a check drawn by one bank on another bank. Banking day means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. Cash item means-- (1) A check other than one classified as a noncash item under this section; or (2) Any other item payable on demand and collectible at par that the Reserve Bank that receives the item is willing to accept as a cash item. Cash item does not include a returned check. [[Page 266]] Check means a check or an electronic check, as those terms are defined in Sec. 229.2 of this chapter (Regulation CC). Clock hour and clock half-hour. (1) Clock hour means a time that is on the hour, such as 1:00, 2:00, etc. (2) Clock half-hour means a time that is on the half-hour, such as 1:30, 2:30, etc. Fedwire Funds Service and Fedwire have the same meaning as that set forth in Sec. 210.26. Item. (1) Means-- (i) An instrument or a promise or order to pay money, whether negotiable or not, that is-- (A) Payable in a Federal Reserve District \1\ (District); --------------------------------------------------------------------------- \1\ For purposes of this subpart, the Virgin Islands and Puerto Rico are deemed to be in the Second District, and Guam, American Samoa, and the Northern Mariana Islands in the Twelfth District. --------------------------------------------------------------------------- (B) Sent by a sender to a Reserve Bank for handling under this subpart; and (C) Collectible in funds acceptable to the Reserve Bank of the District in which the instrument is payable; or (ii) A check. (2) Unless otherwise indicated, item includes both a cash and a noncash item, and includes a returned check sent by a paying or returning bank. Item does not include a check that cannot be collected at par, or a payment order as defined in Sec. 210.26(i) and handled under subpart B of this part. The term also does not include an electronically-created item as defined in Sec. 229.2 of this chapter (Regulation CC). Nonbank payor means a payor of an item, other than a bank. Noncash item means an item that a receiving Reserve Bank classifies in its operating circulars as requiring special handling. The term also means an item normally received as a cash item if a Reserve Bank decides that special conditions require that it handle the item as a noncash item. Paying bank means-- (1) The bank by which an item is payable unless the item is payable or collectible at or through another bank and is sent to the other bank for payment or collection; (2) The bank at or through which an item is payable or collectible and to which it sent for payment or collection; or (3) The bank whose routing number appears on a check in the MICR line or in fractional form (or in the MICR-line information that accompanies an electronic item) and to which the check is sent for payment or collection. Returned check means a cash item returned by a paying bank, including an electronic returned check as defined in Sec. 229.2 of this chapter (Regulation CC) and a notice of nonpayment in lieu of a returned check, whether or not a Reserve Bank handled the check for collection. Sender means any of the following entities that sends an item to a Reserve Bank for forward collection-- (1) A depository institution, as defined in section 19(b) of the Federal Reserve Act (12 U.S.C. 461(b)); (2) A member bank, as defined in section 1 of the Federal Reserve Act (12 U.S.C. 221); (3) A clearing institution, defined as-- (i) An institution that is not a depository institution but that maintains with a Reserve Bank the balance referred to in the first paragraph of section 13 of the Federal Reserve Act (12 U.S.C. 342); or (ii) An Edge corporation or agreement corporation that maintains an account with a Reserve Bank in conformity with part 211 of this chapter (Regulation K); (4) Another Reserve Bank; (5) An international organization for which a Reserve Bank is empowered to act as depositary or fiscal agent and maintains an account; (6) A foreign correspondent, defined as any of the following entities for which a Reserve Bank maintains an account: A foreign bank or banker, a foreign state as defined in section 25(b) of the Federal Reserve Act (12 U.S.C. 632), or a foreign correspondent or agency referred to in section 14(e) of that act (12 U.S.C. 358); or (7) A branch or agency of a foreign bank maintaining reserves under section 7 of the International Banking Act of 1978 (12 U.S.C. 347d, 3105). [[Page 267]] State means a State of the United States, the District of Columbia, Puerto Rico, or a territory, possession, or dependency of the United States. Uniform Commercial Code and U.C.C. mean the Uniform Commercial Code as adopted in a state Terms not defined in this section. Unless the context otherwise requires-- (1) The terms not defined herein have the meanings set forth in Sec. 229.2 of this chapter applicable to subpart C or D of part 229 of this chapter (Regulation CC), as appropriate; and (2) The terms not defined herein or in Sec. 229.2 of this chapter have the meanings set forth in the Uniform Commercial Code. [Reg. J, 87 FR 34357, June 6, 2022] Sec. 210.3 General provisions. (a) General. Each Reserve Bank shall receive and handle items in accordance with this subpart, and shall issue operating circulars governing the details of its handling of items and other matters deemed appropriate by the Reserve Bank. The circulars may, among other things, classify cash items and noncash items, require separate sorts and letters, provide different closing times for the receipt of different classes or types of items, provide for instructions by an Administrative Reserve Bank to other Reserve Banks, set forth terms of services, and establish procedures for adjustments on a Reserve Bank's books, including amounts, waiver of expenses, and payment of compensation. As deemed appropriate by the Reserve Bank, the circulars may also require the sender to provide warranties and indemnities that only items and any noncash items the Reserve Banks have agreed to handle will be sent to the Reserve Banks. The Reserve Banks may provide to a subsequent collecting bank and to the paying bank any warranties and indemnities provided by the sender pursuant to this paragraph (a). (b) Binding effect. This subpart, together with subparts C and D of part 229 and the operating circulars of the Reserve Banks, are binding on all parties interested in an item handled by any Reserve Bank. (c) Government items. As depositaries and fiscal agents of the United States, Reserve Banks handle certain items payable by the United States or certain Federal agencies as cash or noncash items. To the extent provided by regulations issued by, and arrangements made with, the United States Treasury Department and other Government departments and agencies, the handling of such items is governed by this subpart. The Reserve Banks shall include in their operating circulars such information regarding these regulations and arrangements as the Reserve Banks deem appropriate. (d) Government senders. Except as otherwise provided by statutes of the United States, or regulations issued or arrangements made thereunder, this subpart and the operating circulars of the Reserve Banks apply to the following when acting as a sender: a department, agency, instrumentality, independent establishment, or office of the United States, or a wholly owned or controlled Government corporation, that maintains or uses an account with a Reserve Bank. (e) Foreign items. A Reserve Bank also may receive and handle certain items payable outside a Federal Reserve District, as provided in its operating circulars. The handling of such items in a state is governed by this subpart, and the handling of such items outside a state is governed by the local law. (f) Relation to other law. The provisions of this subpart supersede any inconsistent provisions of the Uniform Commercial Code, of any other state law, or of part 229 of this title, but only to the extent of the inconsistency. [45 FR 68634, Oct. 16, 1980, as amended at 51 FR 21744, June 16, 1986; 53 FR 21984, June 13, 1988; Reg. J, 59 FR 22965, May 4, 1994; 62 FR 48171, Sept. 15, 1997; Reg. J, 69 FR 62558, Oct. 27, 2004; 77 FR 21858, Apr. 12, 2012; 83 FR 61518, Nov. 30, 2018] Sec. 210.4 Sending items to Reserve Banks. (a) Sending of items. A sender's Administrative Reserve Bank may direct a sender other than a Reserve Bank to send any item to a specified Reserve Bank, whether or not the item is payable in the Reserve Bank's district. (b) Handling of items. (1) The following parties, in the following order, are deemed to have handled an item [[Page 268]] that is sent to a Reserve Bank for collection: (i) The initial sender; (ii) The initial sender's Administrative Reserve Bank (which is deemed to have accepted deposit of the item from the initial sender); (iii) The Reserve Bank that receives the item from the initial sender (if different from the initial sender's Administrative Reserve Bank); and (iv) Another Reserve Bank, if any, that receives the item from a Reserve Bank. (2) A Reserve Bank that is not described in paragraph (b)(1) of this section is not a person that handles an item and is not a collecting bank with respect to an item. (3) The identity and order of the parties under paragraph (b)(1) of this section determine the relationships and the rights and liabilities of the parties under this subpart, part 229 of this chapter (Regulation CC), section 13(1) and section 16(13) of the Federal Reserve Act, and the Uniform Commercial Code. An initial sender's Administrative Reserve Bank that is deemed to accept an item for deposit or handle an item is also deemed to be a sender with respect to that item. The Reserve Banks that are deemed to handle an item are deemed to be agents or subagents of the owner of the item, as provided in Sec. 210.6(a). (c) Checks received at par. The Reserve Banks shall receive cash items and other checks at par. [Reg. J, 77 FR 21858, Apr. 12, 2012; 83 FR 61518, Nov. 30, 2018] Sec. 210.5 Sender's agreement; recovery by Reserve Bank. (a) Sender's agreement. The warranties, indemnities, authorizations, and agreements made pursuant to this paragraph (a) may not be disclaimed and are made whether or not the item bears an indorsement of the sender. By sending an item to a Reserve Bank, the sender does all of the following. (1) Authorization to handle item. The sender authorizes the sender's Administrative Reserve Bank and any other Reserve Bank or collecting bank to which the item is sent to handle the item (and authorizes any Reserve Bank that handles settlement for the item to make accounting entries), subject to this subpart and to the Reserve Banks' operating circulars, and warrants its authority to give this authorization. (2) Warranties for all items. The sender warrants to each Reserve Bank handling the item that-- (i) The sender is a person entitled to enforce the item or authorized to obtain payment of the item on behalf of a person entitled to enforce the item; (ii) The item has not been altered; and (iii) The item bears all indorsements applied by parties that previously handled the item for forward collection or return. (3) Warranties and indemnities as set forth in Regulation CC and U.C.C. As applicable and unless otherwise provided, the sender of an item makes to each Reserve Bank that handles the item all the warranties and indemnities set forth in and subject to the terms of subparts C and D of part 229 of this chapter (Regulation CC) and Article 4 of the U.C.C. The sender makes all the warranties set forth in and subject to the terms of 4-207 of the U.C.C. for an electronic check as if it were an item subject to the U.C.C. (4) Warranties and indemnities as set forth in Reserve Bank operating circulars. The sender makes any warranties and indemnities regarding the sending of items as set forth in an operating circular issued in accordance with Sec. 210.3(a). (5) Sender's liability to Reserve Bank. (i) Except as provided in paragraphs (a)(5)(ii) and (iii) of this section, the sender agrees to indemnify each Reserve Bank for any loss or expense sustained (including attorneys' fees and expenses of litigation) resulting from-- (A) The sender's lack of authority to make the warranty in paragraph (a)(1) of this section; (B) Any action taken by the Reserve Bank within the scope of its authority in handling the item; or (C) Any warranty or indemnity made by the Reserve Bank under Sec. 210.6(b), part 229 of this chapter, the U.C.C., or, regarding the sending of items, an operating circular issued in accordance with Sec. 210.3(a). (ii) A sender's liability for warranties and indemnities that the Reserve Bank [[Page 269]] makes for a substitute check, a paper or electronic representation thereof, or for an electronic check is subject to the following conditions and limitations-- (A) A sender of an original check shall not be liable under paragraph (a)(5)(i) of this section for any amount that the Reserve Bank pays under subpart D of part 229 of this chapter, or under Sec. 229.34 of this chapter with respect to an electronic check, absent the sender's agreement to the contrary; and (B) Nothing in this subpart alters the liability of a sender of a substitute check or paper or electronic representation of a substitute check under subpart D of part 229 of this chapter, or a sender of an electronic check under Sec. 229.34 of this chapter. (iii) A sender shall not be liable for any amount that the Reserve Bank pays under this subpart or part 229 of this chapter that is attributable to the Reserve Bank's own lack of good faith or failure to exercise ordinary care. (b) Sender's liability under other law. Nothing in paragraph (a) of this section limits any warranty or indemnity by a sender (or a person that handled an item prior to the sender) arising under state law or regulation (such as the U.C.C.), other federal law or regulation (such as part 229 of this chapter), or an agreement with a Reserve Bank. (c) Recovery by Reserve Bank. (1) A Reserve Bank that has handled an item may recover as provided in paragraph (c)(2) of this section if an action or proceeding is brought against (or if defense is tendered to) the Reserve Bank based on-- (i) The alleged failure of the sender to have the authority to make the warranty and agreement in paragraph (a)(1) of this section; (ii) Any action by the Reserve Bank within the scope of its authority in handling the item; or (iii) Any warranty or indemnity made by the Reserve Bank under Sec. 210.6(b), part 229 of this chapter, or the U.C.C. (2) Upon entry of a final judgment or decree in an action or proceeding described in paragraph (c)(1) of this section, a Reserve Bank may recover from the sender the amount of attorneys' fees and other expenses of litigation incurred, as well as any amount the Reserve Bank is required to pay because of the judgment or decree or the tender of defense, together with interest thereon. (d) Methods of recovery. (1) The Reserve Bank may recover the amount stated in paragraph (c) of this section by charging any account on its books that is maintained or used by the sender (or by charging a Reserve Bank sender), if-- (i) The Reserve Bank made seasonable written demand on the sender to assume defense of the action or proceeding; and (ii) The sender has not made any other arrangement for payment that is acceptable to the Reserve Bank. (2) The Reserve Bank is not responsible for defending the action or proceeding before using this method of recovery. A Reserve Bank that has been charged under this paragraph (d) may recover from its sender in the manner and under the circumstances set forth in this paragraph (d). (3) A Reserve Bank's failure to avail itself of the remedy provided in this paragraph (d) does not prejudice its enforcement in any other manner of the indemnity agreement referred to in paragraph (a)(5) of this section. (e) Security interest. When a sender sends an item to a Reserve Bank, the sender and any prior collecting bank grant to the sender's Administrative Reserve Bank a security interest in all of their respective assets in the possession of, or held for the account of, any Reserve Bank to secure their respective obligations due or to become due to the Administrative Reserve Bank under this subpart or subpart C or D of part 229 of this chapter (Regulation CC). The security interest attaches when a warranty is breached or any other obligation to the Reserve Bank is incurred. If the Reserve Bank, in its sole discretion, deems itself insecure and gives notice thereof to the sender or prior collecting bank, or if the sender or prior collecting bank suspends payments or is closed, the Reserve Bank may take any action authorized by law to recover the amount of an obligation, including, but not limited to, [[Page 270]] the exercise of rights of set off, the realization on any available collateral, and any other rights it may have as a creditor under applicable law. [45 FR 68634, Oct. 16, 1980, as amended at 51 FR 21745, June 16, 1986; Reg. J, 59 FR 22965, May 4, 1994; 62 FR 48171, Sept. 15, 1997, Reg. J, 69 FR 62558, Oct. 27, 2004; 70 FR 71224, Nov. 28, 2005; 83 FR 61518, Nov. 30, 2018] Sec. 210.6 Status, warranties, and liability of Reserve Bank. (a)(1) Status. A Reserve Bank that handles an item shall act as agent or subagent of the owner with respect to the item. This agency terminates when a Reserve Bank receives final payment for the item in actually and finally collected funds, a Reserve Bank makes the proceeds available for use by the sender, and the time for commencing all actions against the Reserve Bank has expired. (2) Limitations on Reserve Bank liability. A Reserve Bank shall not have or assume any liability with respect to an item or its proceeds except-- (i) For the Reserve Bank's own lack of good faith or failure to exercise ordinary care; (ii) As provided in paragraph (b) of this section; (iii) As provided in an operating circular issued in accordance with Sec. 210.3(a) regarding the sending of items; and (iv) As provided in subparts C and D of part 229 of this chapter (Regulation CC). (3) Reliance on routing designation appearing on item. A Reserve Bank may present or send an item based on the routing number or other designation of a paying bank or nonbank payor appearing in any form on the item when the Reserve Bank receives it. A Reserve Bank shall not be responsible for any delay resulting from its acting on any designation, whether inscribed by magnetic ink or by other means, and whether or not the designation acted on is consistent with any other designation appearing on the item. (b) Warranties and liability. The following provisions apply when a Reserve Bank presents or sends an item. (1) Warranties for all items. The Reserve Bank warrants to a subsequent collecting bank and to the paying bank and any other payor that-- (i) The Reserve Bank is a person entitled to enforce the item (or is authorized to obtain payment of the item on behalf of a person that is either entitled to enforce the item or authorized to obtain payment on behalf of a person entitled to enforce the item); (ii) The item has not been altered; and (iii) The item bears all indorsements applied by parties that previously handled the item for forward collection or return. (2) Warranties and indemnities as set forth in Reserve Bank operating circulars. The Reserve Bank makes any warranties and indemnities regarding the sending of items as set forth in an operating circular issued in accordance with Sec. 210.3(a). (3) Warranties and indemnities as set forth in Regulation CC and U.C.C. As applicable and unless otherwise provided, the Reserve Bank makes all the warranties and indemnities set forth in and subject to the terms of subparts C and D of part 229 of this chapter (Regulation CC) and Article 4 of the U.C.C. The Reserve Bank makes all the warranties set forth in and subject to the terms of 4-207 of the U.C.C. for an electronic check as if it were an item subject to the U.C.C. (4) Indemnity for substitute check created from an electronic check. (i) Except as provided in paragraph (b)(4)(ii) of this section, the Reserve Bank shall indemnify the bank to which it transfers or presents an electronic check (the recipient bank) for the amount of any losses that the recipient bank incurs under subpart D of part 229 of this chapter (Regulation CC) for an indemnity that the recipient bank was required to make under subpart D of part 229 of this chapter in connection with a substitute check later created from the electronic check. (ii) The Reserve Bank shall not be liable under paragraph (b)(4)(i) of this section for any amount that the recipient bank pays under subpart D of part 229 of this chapter that is attributable to the lack of good faith or failure to exercise ordinary care of the recipient bank or a person that handled the [[Page 271]] item, in any form, after the recipient bank. (c) Time for commencing action against Reserve Bank. (1) A claim against a Reserve Bank for lack of good faith or failure to exercise ordinary care shall be barred unless the action on the claim is commenced within two years after the claim accrues. Such a claim accrues on the date when a Reserve Bank's alleged failure to exercise ordinary care or to act in good faith first results in damages to the claimant. (2) A claim that arises under paragraph (b)(3) of this section shall be barred unless the action on the claim is commenced within one year after the claim accrues. Such a claim accrues as of the date on which the claimant first learns, or by which the claimant reasonably should have learned, of the facts and circumstances giving rise to the claim. (3) This paragraph (c) does not alter the time limit for claims under Sec. 229.38(g) of this chapter (which include claims for breach of warranty under Sec. 229.34 of this chapter) or subpart D of part 229 of this chapter. [45 FR 68634, Oct. 16, 1980, as amended at 51 FR 21745, June 16, 1986; 53 FR 21984, June 13, 1988; Reg. J, 59 FR 22966, May 4, 1994; 62 FR 48172, Sept. 15, 1997; Reg. J, 69 FR 62559, Oct. 27, 2004; 70 FR 71225, Nov. 28, 2005; 83 FR 61519, Nov. 30, 2018] Sec. 210.7 Presenting items for payment. (a) Presenting or sending. As provided under State law or as otherwise permitted by this section: (1) A Reserve Bank or a subsequent collecting bank may present an item for payment or send the item for presentment and payment; and (2) A Reserve Bank may send an item to a subsequent collecting bank with authority to present it for payment or to send it for presentment and payment. (b) Place of presentment. A Reserve Bank or subsequent collecting bank may present an item-- (1) At a place requested by the paying bank; (2) In accordance with Sec. 229.36 of this chapter (Regulation CC); (3) At a place requested by the nonbank payor, if the item is payable by a nonbank payor other than through or at a paying bank; (4) Under a special collection agreement consistent with this subpart; or (5) Through a clearinghouse and subject to its rules and practices. (c) Presenting or sending direct. A Reserve Bank or subsequent collecting bank may, with respect to an item that may be sent to the paying bank or nonbank payor in the Reserve Bank's District-- (1) Present or send the item direct to the paying bank, or to a place requested by the paying bank; or (2) If the item is payable by a nonbank payor other than through a paying bank, present it direct to the nonbank payor. Documents, securities, or other papers accompanying a noncash item shall not be delivered to the nonbank payor before the item is paid unless the sender specifically authorizes delivery. (d) Item sent to another district. A Reserve Bank receiving an item that may be sent to a paying bank or nonbank payor in another District ordinarily sends the item to the Reserve Bank of the other District, but with the agreement of the other Reserve Bank, may present or send the item as if it were sent to a paying bank or nonbank payor in its own District. [45 FR 68634, Oct. 16, 1980, as amended at 53 FR 21985, June 13, 1988; 62 FR 48172, Sept. 15, 1997; Reg. J, 83 FR 61520, Nov. 30, 2018] Sec. 210.8 Presenting noncash items for acceptance. (a) A Reserve Bank or a subsequent collecting bank may, if instructed by the sender, present a noncash item for acceptance in any manner authorized by law if-- (1) The item provides that it must be presented for acceptance; (2) The item may be presented elsewhere than at the residence or place of business of the payor; or (3) The date of payment of the item depends on presentment for acceptance. (b) Documents accompanying a noncash item shall not be delivered to the payor upon acceptance of the item unless the sender specifically authorizes delivery. A Reserve Bank shall not have or assume any other obligation to [[Page 272]] present or to send for presentment for acceptance any noncash item. [62 FR 48172, Sept. 15, 1997] Sec. 210.9 Settlement and payment. (a) Settlement through Administrative Reserve Bank. A paying bank shall settle for an item under this subpart with its Administrative Reserve Bank, whether or not the paying bank received the item from that Reserve Bank. A paying bank's settlement with its Administrative Reserve Bank is deemed to be settlement with the Reserve Bank from which the paying bank received the item. A paying bank may settle for an item using any account on a Reserve Bank's books by agreement with its Administrative Reserve Bank, any other Reserve Bank holding the settlement account, and the account-holder. The paying bank remains responsible for settlement if the Reserve Bank holding the settlement account does not, for any reason, obtain settlement in that account. (b) Cash items--(1) Settlement obligation. On the day a paying bank receives \2\ a cash item from a Reserve Bank, it shall settle for the item such that the proceeds of the settlement are available to its Administrative Reserve Bank by the close of Fedwire on that day, or it shall return the item by the later of the close of its banking day or the close of Fedwire. If the paying bank fails to settle for or return a cash item in accordance with this paragraph (b)(1), it is accountable for the amount of the item as of the close of its banking day or the close of Fedwire on the day it receives the item, whichever is earlier. --------------------------------------------------------------------------- \2\ A paying bank is deemed to receive a cash item on its next banking day if it receives the item-- (1) On a day other than a banking day for it; or (2) On a banking day for it, but after a ``cut-off hour'' established by it in accordance with state law. --------------------------------------------------------------------------- (2) Time of settlement. (i) On the day a paying bank receives a cash item from a Reserve Bank, it shall settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank, or return the item, by the latest of-- (A) The next clock hour or clock half-hour that is at least one half-hour after the paying bank receives the item; (B) 8:30 a.m. eastern time; or (C) Such later time as provided in the Reserve Banks' operating circulars. (ii) If the paying bank fails to settle for or return a cash item in accordance with paragraph (b)(2)(i) of this section, it shall be subject to any applicable overdraft charges. Settlement under paragraph (b)(2)(i) of this section satisfies the settlement requirements of paragraph (b)(1) of this section. (3) Paying bank closes voluntarily. (i) If a paying bank closes voluntarily so that it does not receive a cash item on a day that is a banking day for a Reserve Bank, and the Reserve Bank makes a cash item available to the paying bank on that day, the paying bank shall either-- (A) On that day, settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank, or return the item, by the latest of the next clock hour or clock half-hour that is at least one half-hour after it ordinarily would have received the item, 8:30 a.m. eastern time, or such later time as provided in the Reserve Banks' operating circulars; or (B) On the next day that is a banking day for both the paying bank and the Reserve Bank, settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank by 8:30 a.m. eastern time on that day or such later time as provided in the Reserve Banks' operating circulars; and compensate the Reserve Bank for the value of the float associated with the item in accordance with procedures provided in the Reserve Bank's operating circular. (ii) If a paying bank closes voluntarily so that it does not receive a cash item on a day that is a banking day for a Reserve Bank, and the Reserve Bank makes a cash item available to the paying bank on that day, the paying bank is not considered to have received the item until its next banking day, but it shall be subject to any applicable overdraft charges if it fails to settle for or return the item in accordance with paragraph (b)(3)(i) of this section. The settlement requirements of paragraphs [[Page 273]] (b)(1) and (2) of this section do not apply to a paying bank that settles in accordance with paragraph (b)(3)(i) of this section. (4) Reserve Bank closed. If a paying bank receives a cash item from a Reserve Bank on a banking day that is not a banking day for the Reserve Bank, the paying bank shall-- (i) Settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank by the close of the Fedwire Funds Service on the Reserve Bank's next banking day, or return the item by midnight of the day it receives the item (if the paying bank fails to settle for or return a cash item in accordance with this paragraph (b)(4)(i), it shall become accountable for the amount of the item as of the close of its banking day on the day it receives the item); and (ii) Settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank by 8:30 a.m. eastern time on the Reserve Bank's next banking day or such later time as provided in the Reserve Bank's operating circular, or return the item by midnight of the day it receives the item. If the paying bank fails to settle for or return a cash item in accordance with this paragraph (b)(4)(ii), it shall be subject to any applicable overdraft charges. Settlement under this paragraph (b)(4)(ii) satisfies the settlement requirements of paragraph (b)(4)(i) of this section. (5) Manner of settlement. Settlement with a Reserve Bank under paragraphs (b)(1) through (4) of this section shall be made by debit to an account on the Reserve Bank's books or other form of settlement to which the Reserve Bank agrees, except that the Reserve Bank may, in its discretion, obtain settlement by charging the paying bank's account. A paying bank may not set off against the amount of a settlement under this section the amount of a claim with respect to another cash item, cash letter, or other claim under Sec. 229.34 of this chapter (Regulation CC) or other law. (6) Notice in lieu of return. If a cash item is unavailable for return, the paying bank may send a notice in lieu of return as provided in Sec. 229.31(f) of this chapter (Regulation CC). (c) Noncash items. A Reserve Bank may require the paying or collecting bank to which it has presented or sent a noncash item to pay for the item by a debit to an account maintained or used by the paying or collecting bank on the Reserve Bank's books or by any other form of settlement acceptable to the Reserve Bank. (d) Nonbank payor. A Reserve Bank may require a nonbank payor to which it has presented an item to pay for it by debit to an account on the Reserve Bank's books or other form of settlement acceptable to the Reserve Bank. (e) Liability of Reserve Bank. Except as set forth in Sec. 229.35(b) of this chapter (Regulation CC), a Reserve Bank shall not be liable for the failure of a collecting bank, paying bank, or nonbank payor to pay for an item, or for any loss resulting from the Reserve Bank's acceptance of any form of payment other than cash authorized in paragraphs (b), (c), and (d) of this section. A Reserve Bank that acts in good faith and exercises ordinary care shall not be liable for the nonpayment of, or failure to realize upon, any non-cash form of payment that it accepts under paragraphs (b), (c), and (d) of this section. [45 FR 68634, Oct. 16, 1980, as amended at 49 FR 4200, Feb. 3, 1984; 51 FR 21745, June 16, 1986; 53 FR 21985, June 13, 1988; 57 FR 46955, Oct. 14, 1992; Reg. J, 59 FR 22966, May 4, 1994; 62 FR 48172, Sept. 15, 1997; 70 FR 71225, Nov. 28, 2005; 79 FR 72111, Dec. 5, 2014; 83 FR 61520, Nov. 30, 2018] Sec. 210.10 Time schedule and availability of credits for cash items and returned checks. (a) Each Reserve Bank shall publish a time schedule indicating when the amount of any cash item or returned check received by it is counted toward the balance maintained to satisfy a reserve balance requirement for purposes of part 204 of this chapter (Regulation D) and becomes available for use by the sender or paying or returning bank. The Reserve Bank that holds the settlement account shall give either immediate or deferred credit to a sender, a paying bank, or a returning bank (other than a foreign correspondent) in accordance with the time schedule of the receiving Reserve Bank. A Reserve [[Page 274]] Bank ordinarily gives credit to a foreign correspondent only when the Reserve Bank receives payment of the item in actually and finally collected funds, but, in its discretion, a Reserve Bank may give immediate or deferred credit in accordance with its time schedule. (b) Notwithstanding its time schedule, a Reserve Bank may refuse at any time to permit the use of credit given by it for any cash item or returned check, and may defer availability after credit is received by the Reserve Bank for a period of time that is reasonable under the circumstances. [62 FR 48173, Sept. 15, 1997, as amended by Reg. J, 77 FR 21858, Apr. 12, 2012; 83 FR 61520, Nov. 30, 2018] Sec. 210.11 Availability of proceeds of noncash items; time schedule. (a) Availability of credit. A Reserve Bank shall give credit to the sender for the proceeds of a noncash item when it receives payment in actually and finally collected funds (or advice from another Reserve Bank of such payment to it). The amount of the item is counted toward the balance maintained to satisfy a reserve balance requirement for purposes of part 204 of this chapter (Regulation D) and becomes available for use by the sender when the Reserve Bank receives the payment or advice, except as provided in paragraph (b) of this section. (b) Time schedule. A Reserve Bank may give credit for the proceeds of a noncash item subject to payment in actually and finally collected funds in accordance with a published time schedule. The time schedule shall indicate when the proceeds of the noncash item will be counted toward the balance maintained to satisfy a reserve balance requirement for purposes of part 204 of this chapter (Regulation D) and become available for use by the sender. A Reserve Bank may, however, refuse at any time to permit the use of credit given by it for a noncash item for which the Reserve Bank has not yet received payment in actually and finally collected funds. [Reg. J, 77 FR 21858, Apr. 12, 2012, as amended at 83 FR 61521, Nov. 30, 2018] Sec. 210.12 Return of cash items and handling of returned checks. (a) Return of items--(1) Return of cash items handled by Reserve Banks. A paying bank that receives a cash item from a Reserve Bank, other than for immediate payment over the counter, and that settles for the item as provided in Sec. 210.9(b), may, before it has finally paid the item, return the item to any Reserve Bank (unless its Administrative Reserve Bank directs it to return the item to a specific Reserve Bank) in accordance with subpart C of part 229 of this chapter (Regulation CC), the Uniform Commercial Code, and the Reserve Banks' operating circulars. A paying bank that receives a cash item from a Reserve Bank also may return the item prior to settlement, in accordance with Sec. 210.9(b) and the Reserve Banks' operating circulars. The rules or practices of a clearinghouse through which the item was presented, or a special collection agreement under which the item was presented, may not extend these return times, but may provide for a shorter return time. (2) Return of checks not handled by Reserve Banks. A paying bank that receives a check, other than from a Reserve Bank, and that determines not to pay the check, may send the returned check to any Reserve Bank (unless its Administrative Reserve Bank directs it to send the returned check to a specific Reserve Bank) in accordance with subpart C of part 229 of this chapter (Regulation CC), the Uniform Commercial Code, and the Reserve Banks' operating circulars. A returning bank may send a returned check to any Reserve Bank (unless its Administrative Reserve Bank directs it to send the returned check to a specific Reserve Bank) in accordance with subpart C of part 229 of this chapter (Regulation CC), the Uniform Commercial Code, and the Reserve Banks' operating circulars. (b) Handling of returned checks. (1) The following parties, in the following order, are deemed to have handled a returned check sent to a Reserve Bank under paragraph (a) of this section-- (i) The paying or returning bank; (ii) The paying bank's or returning bank's Administrative Reserve Bank; [[Page 275]] (iii) The Reserve Bank that receives the returned check from the paying or returning bank (if different from the paying bank's or returning bank's Administrative Reserve Bank); and (iv) Another Reserve Bank, if any, that receives the returned check from a Reserve Bank. (2) A Reserve Bank that is not described in paragraph (b)(1) of this section is not a person that handles a returned check and is not a returning bank with respect to a returned check. (3) The identity and order of the parties under paragraph (b)(1) of this section determine the relationships and the rights and liabilities of the parties under this subpart, part 229 of this chapter (Regulation CC), and the Uniform Commercial Code. (c) Paying bank's and returning bank's agreement. The warranties, indemnities, authorizations, and agreements made pursuant to this paragraph (c) may not be disclaimed and are made whether or not the returned check bears an indorsement of the paying bank or returning bank. By sending a returned check to a Reserve Bank, the paying bank or returning bank does all of the following. (1) Authorization to handle returned check. The paying bank or returning bank authorizes the paying bank's or returning bank's Administrative Reserve Bank, and any other Reserve Bank or returning bank to which the returned check is sent, to handle the returned check (and authorizes any Reserve Bank that handles settlement for the returned check to make accounting entries) subject to this subpart and to the Reserve Banks' operating circulars. (2) Warranties for all returned checks. The paying bank or returning bank warrants to each Reserve Bank handling a returned check that the returned check bears all indorsements applied by parties that previously handled the returned check for forward collection or return. (3) Warranties and indemnities as set forth in Regulation CC. As applicable and unless otherwise provided, a paying bank or returning bank makes to each Reserve Bank that handles the returned check all the warranties and indemnities set forth in and subject to the terms of subparts C and D of part 229 of this chapter (Regulation CC). (4) Paying bank or returning bank's liability to Reserve Bank. (i) Except as provided in paragraph (c)(4)(ii) and (iii) of this section, a paying bank or returning bank agrees to indemnify each Reserve Bank for any loss or expense (including attorneys' fees and expenses of litigation) resulting from-- (A) The paying or returning bank's lack of authority to give the authorization in paragraph (c)(1) of this section; (B) Any action taken by a Reserve Bank within the scope of its authority in handling the returned check; or (C) Any warranty or indemnity made by the Reserve Bank under paragraph (e) of this section or part 229 of this chapter. (ii) A paying bank's or returning bank's liability for warranties and indemnities that a Reserve Bank makes for a returned check that is a substitute check, a paper or electronic representation thereof, or an electronic returned check is subject to the following conditions and limitations-- (A) A paying bank or returning bank that sent an original returned check shall not be liable for any amount that a Reserve Bank pays under subpart D of part 229 of this chapter, or under Sec. 229.34 of this chapter with respect to an electronic returned check, absent the paying bank's or returning bank's agreement to the contrary; and (B) Nothing in this subpart alters the liability under subpart D of part 229 of this chapter of a paying bank or returning bank that sent a substitute check or a paper or electronic representation of a substitute check or under Sec. 229.34 of this chapter of a paying bank or returning bank that sent an electronic returned check; and (iii) A paying bank or returning bank shall not be liable for any amount that the Reserve Bank pays under this subpart or part 229 of this chapter that is attributable to the Reserve Bank's own lack of good faith or failure to exercise ordinary care. (d) Paying bank or returning bank's liability under other law. Nothing in paragraph (c) of this section limits any warranty or indemnity by a returning bank or paying bank (or a person that handled an item prior to that bank) [[Page 276]] arising under state law or regulation (such as the U.C.C.), other federal law or regulation (such as part 229 of this chapter), or an agreement with a Reserve Bank. (e) Warranties by and liability of Reserve Bank--(1) Warranties and indemnities. The following provisions apply when a Reserve Bank handles a returned check under this subpart. (i) Warranties for all items. The Reserve Bank warrants to the bank to which it sends the returned check that the returned check bears all indorsements applied by parties that previously handled the returned check for forward collection or return. (ii) Warranties and indemnities as set forth in Regulation CC. As applicable and unless otherwise provided, the Reserve Bank makes all the warranties and indemnities set forth in and subject to the terms of subparts C and D of part 229 of this chapter (Regulation CC). (2) Indemnity for substitute check created from electronic returned check. (i) Except as provided in paragraph (e)(2)(ii) of this section, the Reserve Bank shall indemnify the bank to which it transfers or presents an electronic returned check (the recipient bank) for the amount of any losses that the recipient bank incurs under subpart D of part 229 of this chapter (Regulation CC) for an indemnity that the recipient bank was required to make under subpart D of part 229 of this chapter in connection with a substitute check later created from the electronic returned check. (ii) The Reserve Bank shall not be liable under paragraph (e)(2)(i) of this section for any amount that the recipient bank pays under subpart D of part 229 of this chapter that is attributable to the lack of good faith or failure to exercise ordinary care of the recipient bank or a person that handled the item, in any form, after the recipient bank. (3) Liability of Reserve Bank. A Reserve Bank shall not have or assume any other liability to any person except-- (i) For the Reserve Bank's own lack of good faith or failure to exercise ordinary care; (ii) As provided in this paragraph (e); and (iii) As provided in subparts C and D of part 229 of this chapter (Regulation CC). (f) Recovery by Reserve Bank. (1) A Reserve Bank that has handled a returned check may recover as provided in paragraph (f)(2) of this section if an action or proceeding is brought against (or if defense is tendered to) the Reserve Bank based on-- (i) The alleged failure of the paying bank or returning bank to have the authority to give the authorization in paragraph (c)(1) of this section; (ii) Any action by the Reserve Bank within the scope of its authority in handling the returned check; or (iii) Any warranty or indemnity made by the Reserve Bank under paragraph (e) of this section or part 229 of this chapter; and (2) Upon entry of a final judgment or decree in an action or proceeding described in paragraph (f)(1) of this section, a Reserve Bank may recover from the paying bank or returning bank the amount of attorneys' fees and other expenses of litigation incurred, as well as any amount the Reserve Bank is required to pay because of the judgment or decree or the tender of defense, together with interest thereon. (g) Methods of recovery. (1) The Reserve Bank may recover the amount stated in paragraph (f) of this section by charging any account on its books that is maintained or used by the paying bank or returning bank (or by charging another returning Reserve Bank), if-- (i) The Reserve Bank made seasonable written demand on the paying bank or returning bank to assume defense of the action or proceeding; and (ii) The paying bank or returning bank has not made any other arrangement for payment that is acceptable to the Reserve Bank. (2) The Reserve Bank is not responsible for defending the action or proceeding before using this method of recovery. A Reserve Bank that has been charged under this paragraph (g) may recover from the paying or returning bank in the manner and under the circumstances set forth in this paragraph (g). [[Page 277]] (3) A Reserve Bank's failure to avail itself of the remedy provided in this paragraph (g) does not prejudice its enforcement in any other manner of the indemnity agreement referred to in paragraph (c)(4) of this section. (h) Reserve Bank's responsibility. A Reserve Bank shall handle a returned check, or a notice of nonpayment, in accordance with subpart C of part 229 and its operating circular. (i) Settlement. A subsequent returning bank or depositary bank shall settle with its Administrative Reserve Bank for returned checks in the same manner and by the same time as for cash items presented for payment under this subpart. Settlement with its Administrative Reserve Bank is deemed to be settlement with the Reserve Bank from which the returning bank or depositary bank received the item. (j) Security interest. When a paying or returning bank sends a returned check to a Reserve Bank, the paying bank, returning bank, and any prior returning bank grant to the paying bank's or returning bank's Administrative Reserve Bank a security interest in all of their respective assets in the possession of, or held for the account of, any Reserve Bank, to secure their respective obligations due or to become due to the Administrative Reserve Bank under this subpart or subpart C of part 229 of this chapter (Regulation CC). The security interest attaches when a warranty is breached or any other obligation to the Reserve Bank is incurred. If the Reserve Bank, in its sole discretion, deems itself insecure and gives notice thereof to the paying bank, returning bank, or prior returning bank, or if the paying bank, returning bank, or prior returning bank suspends payments or is closed, the Reserve Bank may take any action authorized by law to recover the amount of an obligation, including, but not limited to, the exercise of rights of set off, the realization on any available collateral, and any other rights it may have as a creditor under applicable law. [53 FR 21985, June 13, 1988, as amended at Reg. J, 59 FR 22966, May 4, 1994; 62 FR 48173, Sept. 15, 1997; Reg, J, 69 FR 62560, Oct. 27, 2004; 83 FR 61521, Nov. 30, 2018] Sec. 210.13 Unpaid items. (a) Right of recovery. If a Reserve Bank does not receive payment in actually and finally collected funds for an item, the Reserve Bank shall recover by charge-back or otherwise the amount of the item from the sender, prior collecting bank, paying bank, or returning bank from or through which it was received, whether or not the item itself can be sent back. In the event of recovery from such a person, no person, including the owner or holder of the item, shall, for the purpose of obtaining payment of the amount of the item, have any interest in any reserve balance or other funds or property in the Reserve Bank's possession of the bank that failed to make payment in actually and finally collected funds. (b) Suspension or closing of bank. A Reserve Bank shall not pay or act on a draft, authorization to charge (including a charge authorized by Sec. 210.9(b)(5)), or other order on a reserve balance or other funds in its possession for the purpose of settling for items under Sec. 210.9 or Sec. 210.12 after it receives notice of suspension or closing of the bank making the settlement for that bank's own or another's account. [Reg. J, 59 FR 22966, May 4, 1994, as amended at Reg. J, 69 FR 62561, Oct. 27, 2004] Sec. 210.14 Extension of time limits. If a bank (including a Reserve Bank) or nonbank payor is delayed in acting on an item beyond applicable time limits because of interruption of communication or computer facilities, suspension of payments by a bank or nonbank payor, war, emergency conditions, failure of equipment, or other circumstances beyond its control, its time for acting is extended for the time necessary to complete the action, if it exercises such diligence as the circumstances require. [Reg. J, 59 FR 22967, May 4, 1994] Sec. 210.15 Direct presentment of certain warrants. If a Reserve Bank elects to present direct to the payor a bill, note, or warrant that is issued and payable by a State or a political subdivision and [[Page 278]] that is a cash item not payable or collectible through a bank: (a) Sections 210.9, 210.12, and 210.13 and the operating circulars of the Reserve Banks apply to the payor as if it were a paying bank; (b) Sec. 210.14 applies to the payor as if it were a bank; and (c) under Sec. 210.9 each day on which the payor is open for the regular conduct of its affairs or the accommodation of the public is considered a banking day. Subpart B_Funds Transfers Through the Fedwire Funds Service Source: 55 FR 40801, Oct. 5, 1990, unless otherwise noted. Sec. 210.25 Authority, purpose, and scope. (a) Authority and purpose. This subpart provides rules to govern funds transfers through the Fedwire Funds Service, and has been issued pursuant to the Federal Reserve Act--section 13 (12 U.S.C. 342), paragraph (f) of section 19 (12 U.S.C. 464), paragraph 14 of section 16 (12 U.S.C. 248(o)), and paragraphs (i) and (j) of section 11 (12 U.S.C. 248(i) and (j))--and other laws and has the force and effect of federal law. This subpart is not a funds-transfer system rule as defined in Section 4A-501(b) of Article 4A. (b) Scope. (1) This subpart incorporates the provisions of Article 4A set forth in appendix A of this part. In the event of an inconsistency between the provisions of the sections of this subpart and appendix A of this part, the provisions of the sections of this subpart shall prevail. In the event of an inconsistency between the provisions this subpart and section 919 of the Electronic Fund Transfer Act, section 919 of the Electronic Fund Transfer Act shall prevail. (2) Except as otherwise provided in paragraphs (b)(3) and (4) of this section, this subpart, including Article 4A as set forth in appendix A of this part and operating circulars of the Federal Reserve Banks issued in accordance with paragraph (c) of this section, governs the rights and obligations of the following parties with respect to the Fedwire Funds Service: (i) Federal Reserve Banks that send or receive payment orders; (ii) Senders that send payment orders directly to a Federal Reserve Bank; (iii) Receiving banks that receive payment orders directly from a Federal Reserve Bank; (iv) Beneficiaries that receive payment for payment orders by means of credit to an account maintained or used at a Federal Reserve Bank; and (v) Other parties to a funds transfer any part of which is carried out through the Fedwire Funds Service to the same extent as if this subpart were considered a funds-transfer system rule under Article 4A. (3) This subpart governs a funds transfer that is sent through the Fedwire Funds Service, as provided in paragraph (b)(2) of this section, even though a portion of the funds transfer is governed by the Electronic Fund Transfer Act, but the portion of such funds transfer that is governed by the Electronic Fund Transfer Act (other than section 919 governing remittance transfers) is not governed by this subpart. (4) In the event that any portion of this Subpart establishes rights or obligations with respect to the availability of funds that are also governed by the Expedited Funds Availability Act or the Board's Regulation CC, Availability of Funds and Collection of Checks, those provisions of the Expedited Funds Availability Act or Regulation CC shall apply and the portion of this Subpart, including Article 4A as incorporated herein, shall not apply. (c) Operating Circulars. Each Federal Reserve Bank shall issue an Operating Circular consistent with this subpart that governs the details of its funds-transfer operations in connection with the Fedwire Funds Service and other matters it deems appropriate. Among other things, the Operating Circular may set cut-off times and funds-transfer business days; address security procedures offered by the Federal Reserve Banks to verify the authenticity of a payment order; specify format and media requirements for payment orders; specify the time and method of receipt, execution, and acceptance of a payment order and settlement of a Federal Reserve Bank's payment obligation for purposes of Article 4A; specify service terms governing ancillary [[Page 279]] features of the Fedwire Funds Service; provide for the acceptance of documents in electronic form to the extent any provision in Article 4A requires an agreement or other document to be in writing; identify messages that are not payment orders; and impose charges for funds- transfer services. (d) Government senders, receiving banks, and beneficiaries. Except as otherwise expressly provided by the statutes of the United States, the parties specified in paragraphs (b)(2)(ii) through (v) of this section include: (1) A department, agency, instrumentality, independent establishment, or office of the United States, or a wholly-owned or controlled Government corporation; (2) An international organization; (3) A foreign central bank; and (4) A department, agency, instrumentality, independent establishment, or office of a foreign government, or a wholly-owned or controlled corporation of a foreign government. (e) Financial messaging standards. Financial messaging standards (e.g., ISO 20022), including the financial messaging components, elements, technical documentation, tags, and terminology used to implement those standards, do not confer or connote legal status or responsibilities. This subpart, including Article 4A as set forth in appendix A of this part, and the operating circulars of the Reserve Banks issued in accordance with paragraph (c) of this section govern the rights and obligations of parties to funds transfers sent through the Fedwire Funds Service as provided in paragraph (b) of this section. To the extent there is any inconsistency between a financial messaging standard adopted by the Fedwire Funds Service and this subpart, this subpart shall prevail. [55 FR 40801, Oct. 5, 1990; 55 FR 47428, Nov. 13, 1990, as amended by Reg. J, 77 FR 21859, Apr. 12, 2012; 83 FR 61517, 61522, Nov. 30, 2018; 87 FR 34358, June 6, 2022] Sec. 210.26 Definitions. As used in this subpart, the following definitions apply: Article 4A means Article 4A of the Uniform Commercial Code as set forth in appendix A of this part, which is incorporated into this subpart in accordance with Sec. 210.25(b). Automated clearing house transfer means any transfer designated as an automated clearing house transfer in an operating circular issued by the Federal Reserve Banks. Beneficiary has the same meaning as in Article 4A except that the term is limited to a beneficiary in a funds transfer any portion of which is sent through the Fedwire Funds Service. Beneficiary's bank has the same meaning as in Article 4A, except that: (1) The term is limited to a beneficiary's bank in a funds transfer any portion of which is sent through the Fedwire Funds Service; (2) A Federal Reserve Bank need not be identified in the payment order in order to be the beneficiary's bank; and (3) The term includes a Federal Reserve Bank when that Federal Reserve Bank is the beneficiary of a payment order. Fedwire Funds Service means the funds-transfer system owned and operated by the Federal Reserve Banks that is used primarily for the transmission and settlement of payment orders governed by this subpart. The Fedwire Funds Service does not include the FedNow Service or the system for making automated clearing house transfers. Interdistrict transfer means a funds transfer involving entries to accounts maintained at two Federal Reserve Banks. Intradistrict transfer means a funds transfer involving entries to accounts maintained at one Federal Reserve Bank. Off-line bank means a bank that sends payment orders to and receives payment orders from a Federal Reserve Bank by telephone orally or by other means other than electronic data transmission. Payment order has the same meaning as in Article 4A except that the term includes only instructions sent or received through the Fedwire Funds Service and does not include automated clearing house transfers or any communication designated in an operating circular issued by a Federal Reserve Bank under this subpart as not being a payment order. [[Page 280]] Receiving bank has the same meaning as in Article 4A except that the term is limited to a receiving bank in a funds transfer any portion of which is sent through the Fedwire Funds Service. Sender has the same meaning as in Article 4A except that the term is limited to a sender in a funds transfer any portion of which is sent through the Fedwire Funds Service. Sender's account, receiving bank's account, and beneficiary's account mean the reserve, clearing, or other funds deposit account at a Federal Reserve Bank maintained or used by the sender, receiving bank, or beneficiary, respectively. Sender's Federal Reserve Bank and receiving bank's Federal Reserve Bank mean the Federal Reserve Bank at which the sender or receiving bank, respectively, maintains or uses an account. [Reg. J, 87 FR 34358, June 6, 2022] Sec. 210.27 Reliance on identifying number. (a) Reliance by a Federal Reserve Bank on number to identify an intermediary bank or beneficiary's bank. A Federal Reserve Bank may rely on the number in a payment order that identifies the intermediary bank or beneficiary's bank, even if it identifies a bank different from the bank identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification. (b) Reliance by a Federal Reserve Bank on number to identify beneficiary. A Federal Reserve Bank, acting as a beneficiary's bank, may rely on the number in a payment order that identifies the beneficiary, even if it identifies a person different from the person identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification. Sec. 210.28 Agreement of sender. (a) Payment of sender's obligation to a Federal Reserve Bank. A sender (other than a Federal Reserve Bank), by maintaining or using an account with a Federal Reserve Bank, authorizes the sender's Federal Reserve Bank to obtain payment for the sender's payment orders by debiting the amount of the payment order from the sender's account. (b) Overdrafts. (1) A sender does not have the right to an overdraft in the sender's account. In the event an overdraft is created, the overdraft shall be due and payable immediately, without the need for a demand by the Federal Reserve Bank, at the earliest of the following times: (i) At the end of the Fedwire Funds Service funds-transfer business day; (ii) At the time the Federal Reserve Bank, in its sole discretion, deems itself insecure and gives notice thereof to the sender; or (iii) At the time the sender suspends payments or is closed. (2) The sender shall have in its account, at the time the overdraft is due and payable, a balance of actually and finally collected funds sufficient to cover the aggregate amount of all its obligations to the Federal Reserve Bank, whether the obligations result from the execution of a payment order or otherwise. (3) To secure any overdraft, as well as any other obligation due or to become due to its Federal Reserve Bank, each sender, by sending a payment order to a Federal Reserve Bank that is accepted by the Federal Reserve Bank, grants to the Federal Reserve Bank a security interest in all of the sender's assets in the possession or control of, or held for the account of, the Federal Reserve Bank. The security interest attaches when an overdraft, or any other obligation to the Federal Reserve Bank, becomes due and payable. (4) A Federal Reserve Bank may take any action authorized by law to recover the amount of an overdraft that is due and payable, including, but not limited to, the exercise of rights of set off, the realization on any available collateral, and any other rights it may have as a creditor under applicable law. (5) If a sender, other than a government sender described in Sec. 210.25(d), incurs an overdraft in its account as a result of a debit to the account by a Federal Reserve Bank under paragraph (a) [[Page 281]] of this section, the account will be subject to any applicable overdraft charges, regardless of whether the overdraft has become due and payable. A Federal Reserve Bank may debit a sender's account under paragraph (a) of this section immediately on acceptance of the payment order. (c) Review of payment orders. A sender, by sending a payment order to a Federal Reserve Bank, agrees that for the purposes of sections 4A- 204(a) and 4A-304 of Article 4A, a reasonable time to notify a Federal Reserve Bank of the relevant facts concerning an unauthorized or erroneously executed payment order is within 30 calendar days after the sender receives notice that the payment order was accepted or executed, or that the sender's account was debited with respect to the payment order. [55 FR 40801, Oct. 5, 1990, as amended at 57 FR 46956, Oct. 14, 1992; Reg. J, 87 FR 34359, June 6, 2022] Sec. 210.29 Agreement of receiving bank. (a) Payment. A receiving bank (other than a Federal Reserve Bank) that receives a payment order from its Federal Reserve Bank authorizes that Federal Reserve Bank to pay for the payment order by crediting the amount of the payment order to the receiving bank's account. (b) Off-line banks. An off-line bank that does not expressly notify its Federal Reserve Bank in writing that it maintains an account for another bank warrants to that Federal Reserve Bank that the off-line bank does not act as an intermediary bank or a beneficiary's bank with respect to payment orders received through the Fedwire Funds Service for a beneficiary that is a bank. [55 FR 40801, Oct. 5, 1990; 55 FR 47428, Nov. 13, 1990, as amended by Reg. J, 83 FR 61522, Nov. 30, 2018] Sec. 210.30 Payment orders. (a) Rejection. A sender shall not send a payment order to a Federal Reserve Bank unless authorized to do so by the Federal Reserve Bank. A Federal Reserve Bank may reject, or impose conditions that must be satisfied before it will accept, a payment order for any reason. (b) Selection of an intermediary bank. For an interdistrict transfer through the Fedwire Funds Service, a Federal Reserve Bank is authorized and directed to execute a payment order through another Federal Reserve Bank. A sender shall not send a payment order to a Federal Reserve Bank that requires the Federal Reserve Bank to send a payment order to an intermediary bank (other than a Federal Reserve Bank) unless that intermediary bank is designated in the sender's payment order. A sender shall not send to a Federal Reserve Bank a payment order through the Fedwire Funds Service that instructs use by a Federal Reserve Bank of a funds-transfer system or means of transmission other than the Fedwire Funds Service unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions. (c) Execution date and payment date. A sender shall not send a payment order through the Fedwire Funds Service that instructs a Federal Reserve Bank to execute the payment order or to pay the beneficiary on a funds-transfer business day that is later than the Fedwire Funds Service funds-transfer business day on which the order is received by the Federal Reserve Bank, unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions. [55 FR 40801, Oct. 5, 1990, as amended by Reg. J, 87 FR 34359, June 6, 2022] Sec. 210.31 Payment by a Federal Reserve Bank to a receiving bank or beneficiary. (a) Payment to a receiving bank. Payment of a Federal Reserve Bank's obligation to pay a receiving bank (other than a Federal Reserve Bank) occurs at the earlier of the time when the amount of the payment order is credited to the receiving bank's account or when the payment order is sent to the receiving bank. (b) Payment to a beneficiary. Payment by a Federal Reserve Bank to a beneficiary of a payment order, where the Federal Reserve Bank is the beneficiary's bank, occurs at the earlier of [[Page 282]] the time when the amount of the payment order is credited to the beneficiary's account or when notice of the credit is sent to the beneficiary. Sec. 210.32 Federal Reserve Bank liability; payment of compensation. (a) Damages. In connection with its handling of a payment order under this subpart, a Federal Reserve Bank shall not be liable to a sender, receiving bank, beneficiary, or other Federal Reserve Bank, governed by this subpart, for any damages other than those payable under Article 4A. A Federal Reserve Bank shall not agree to be liable to a sender, receiving bank, beneficiary, or other Federal Reserve Bank for consequential damages under section 4A-305(d) of Article 4A. (b) Payment of compensation. (1) A Federal Reserve Bank shall satisfy its obligation, or that of another Federal Reserve Bank, to pay compensation in the form of interest under Article 4A by paying such compensation in the form of interest to a sender, receiving bank, beneficiary, or another party to the funds transfer that is entitled to such payment in an amount that is calculated in accordance with section 4A-506 of Article 4A. (2) If the sender or receiving bank that is the recipient of the payment of compensation is not the party entitled to compensation under Article 4A, the sender or receiving bank shall pass through the benefit of the compensation by making an interest payment, as of the day the compensation was paid by the Federal Reserve Bank, to the party entitled to compensation. The interest payment that is made to the party entitled to compensation shall not be less than the value of the compensation that was paid by the Federal Reserve Bank to the sender or receiving bank. The party entitled to compensation may agree to accept compensation in a form other than a direct interest payment, provided that such an alternative form of compensation is not less than the value of the interest payment that otherwise would be made. (c) Nonwaiver of right of recovery. Nothing in this subpart or any Operating Circular issued hereunder shall constitute, or be construed as constituting, a waiver by a Federal Reserve Bank of a cause of action for recovery under any applicable law of mistake and restitution. [55 FR 40801, Oct. 5, 1990, as amended by Reg. J, 77 FR 21859, Apr. 12, 2012; 83 FR 61517, Nov. 30, 2018; 87 FR 34359, June 6, 2022] Sec. Appendix A to Subpart B of Part 210--Commentary The Commentary provides background material to explain the intent of the Board of Governors of the Federal Reserve System (Board) in adopting a particular provision in the subpart and to help readers interpret that provision. In some comments, examples are offered. The Commentary constitutes an official Board interpretation of subpart B of this part. Commentary is not provided for every provision of subpart B of this part, as some provisions are self-explanatory. Section 210.25--Authority, Purpose, and Scope (a) Authority and purpose. Section 210.25(a) states that the purpose of subpart B of this part is to provide rules to govern funds transfers through the Fedwire Funds Service and recites the Board's rulemaking authority for this subpart. Subpart B of this part is Federal law and is not a ``funds-transfer system rule'' as defined in section 4A-501(b) of Article 4A, Funds Transfers, of the Uniform Commercial Code (UCC), as set forth in appendix A of this part. Certain provisions of Article 4A may not be varied by a funds-transfer system rule, but under section 4A- 107, regulations of the Board and operating circulars of the Federal Reserve Banks supersede inconsistent provisions of Article 4A to the extent of the inconsistency. In addition, regulations of the Board may preempt inconsistent provisions of state law. Accordingly, subpart B of this part supersedes or preempts inconsistent provisions of state law. It does not affect state law governing funds transfers that does not conflict with the provisions of subpart B of this part, such as Article 4A as enacted in any state, as such state law may apply to parties to funds transfers through the Fedwire Funds Service whose rights and obligations are not governed by subpart B of this part. (b) Scope. (1) Subpart B of this part incorporates the provisions of Article 4A set forth in appendix A of this part. The provisions set forth expressly in the sections of subpart B of this part supersede or preempt any inconsistent provisions of Article 4A as set forth in appendix A of this part or as enacted in any state. The official comments to Article 4A are not incorporated in subpart B of this part or this commentary to subpart B of this part, but the official comments may be useful in interpreting Article 4A as set forth in [[Page 283]] appendix A of this part. Because section 4A-105 refers to other provisions of the Uniform Commercial Code (e.g., definitions in article 1 of the UCC), these other provisions of the UCC, as approved by the National Conference of Commissioners on Uniform State Laws, which is now also known as the Uniform Law Commission, and the American Law Institute, from time to time, are also incorporated into subpart B of this part. Subpart B of this part applies to any party to a funds transfer over the Fedwire Funds Service that is in privity with a Federal Reserve Bank. These parties include a sender (bank or nonbank) that sends a payment order directly to a Federal Reserve Bank, a receiving bank that receives a payment order directly from a Federal Reserve Bank, and a beneficiary that receives credit to an account that it uses or maintains at a Federal Reserve Bank as payment for a payment order accepted by a Federal Reserve Bank. Other parties to a funds transfer over the Fedwire Funds Service are covered by subpart B of this part to the same extent subpart B would apply to them if subpart B were a ``funds-transfer system rule'' under Article 4A that selected subpart B of this part as the governing law. (2) The scope of the applicability of a funds-transfer system rule under Article 4A is specified in section 4A-501(b), and the scope of the choice of law provision is specified in section 4A-507(c). Under section 4A-507(c), a choice of law provision is binding on the participants in a funds-transfer system and certain other parties having notice that the funds-transfer system might be used for the funds transfer and of the choice of law provision. The Uniform Commercial Code provides that a person has notice of a fact when the person has actual knowledge of it, receives a notice or notification of it, or has reason to know that it exists from all the facts and circumstances known to the person at the time in question. (See UCC section 1-202.) However, under sections 4A- 507(b) and 4A-507(d), a choice of law by agreement of the parties takes precedence over a choice of law made by funds-transfer system rule. (3) If originators, receiving banks, and beneficiaries that are not in privity with a Federal Reserve Bank have the notice contemplated by section 4A-507(c) or if those parties agree to be bound by subpart B of this part, subpart B of this part generally would apply to payment orders between those remote parties, including participants in other funds-transfer systems. For example, a payment order may be sent from an originator's bank through a funds-transfer system other than the Fedwire Funds Service to a receiving bank which, in turn, executes that payment order by sending a payment order through the Fedwire Funds Service. Similarly, a Federal Reserve Bank may send a payment order through the Fedwire Funds Service to a receiving bank that sends it through a funds- transfer system other than the Fedwire Funds Service to the beneficiary's bank. In the first example, if the originator's bank has notice that the Fedwire Funds Service may be used to effect part of the funds transfer, the sending of the payment order through the other funds-transfer system to the receiving bank will be governed by subpart B of this part unless the parties to the payment order have agreed otherwise. In the second example, if the beneficiary's bank has notice that the Fedwire Funds Service may be used to effect part of the funds transfer, the sending of the payment order to the beneficiary's bank through the other funds-transfer system will be governed by subpart B of this part unless the parties have agreed otherwise. In both cases, the other funds-transfer system's rules would also apply to, at a minimum, the portion of these funds transfers being made through that funds transfer system. Because subpart B of this part is Federal law, subpart B of this part will take precedence over any funds-transfer system rule applicable to the remote sender or receiving bank or to a Federal Reserve Bank to the extent of any inconsistency. If remote parties to a funds transfer, a portion of which is sent through the Fedwire Funds Service, have expressly selected by agreement, in accordance with section 4A-507(b), a law other than subpart B of this part, subpart B of this part would not take precedence over the choice of law made by the agreement even though the remote parties had notice that the Fedwire Funds Service might be used and of the governing law. (See section 4A- 507(d).) In addition, subpart B of this part would not apply to a funds transfer sent through another funds-transfer system where no Federal Reserve Bank handles the funds transfer, even though settlement for the funds transfer is made by means of a separate net settlement or funds transfer through the Fedwire Funds Service. (4) Under section 4A-108, Article 4A does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act (EFTA) (15 U.S.C. 1693 et seq.). In general, Fedwire funds transfers to or from consumer accounts are exempt from the EFTA and Regulation E (12 CFR part 1005). A funds transfer from a consumer originator or a funds transfer to a consumer beneficiary could be carried out in part through the Fedwire Funds Service and in part through an automated clearinghouse or other means that is subject to the EFTA or Regulation E. In these cases, subpart B would not govern the portion of the funds transfer that is governed by the EFTA or Regulation E. (See the commentary to Sec. 210.26 in this appendix, ``Payment Order''.) (5) Section 919 of the EFTA, however, governs ``remittance transfers,'' which may include funds transfers over the Fedwire Funds [[Page 284]] Service. Section 919 of the EFTA sets out the obligations of remittance transfer providers with respect to consumer senders of remittance transfers. Section 919 of the EFTA generally does not affect the rights and obligations of financial institutions involved in a remittance transfer. To the extent that a Fedwire funds transfer is a ``remittance transfer'' governed by section 919 of the EFTA, it continues to be governed by subpart B of this part, except that, in the event of an inconsistency between the provisions of subpart B of this part and section 919 of the EFTA, section 919 of the EFTA shall prevail. For example, a consumer may initiate a remittance transfer governed by EFTA section 919 from the consumer's account at a depository institution, and the depository institution may initiate that transfer by sending a payment order to a Federal Reserve Bank through the Fedwire Funds Service. If the consumer subsequently exercised the right to cancel the remittance transfer and obtain a refund under the terms of section 919 of the EFTA, the depository institution would be required to comply with section 919 even if the institution does not have a right to reverse the payment order sent to the Federal Reserve Bank under subpart B of this part. (6) Finally, section 4A-404(a) provides that a beneficiary's bank is obliged to pay the amount of a payment order to the beneficiary on the payment date unless acceptance of the payment order occurs on the payment date after the close of the funds-transfer business day of the bank. The Expedited Funds Availability Act provides that funds received by a bank by wire transfer shall be available for withdrawal not later than the business day after the business day on which such funds are received (12 U.S.C. 4002(a)). That act also preempts any provision of state law that was not effective on September 1, 1989, that is inconsistent with that act or its implementing Regulation CC (12 CFR part 229). Accordingly, the Expedited Funds Availability Act and Regulation CC may preempt section 4A-404(a) as enacted in any state. In order to ensure that section 4A-404(a), or other provisions of Article 4A, as incorporated in subpart B of this part, do not take precedence over provisions of the Expedited Funds Availability Act, this section 210.25(b)(4) provides that where subpart B of this part establishes rights or obligations that are also governed by the Expedited Funds Availability Act or Regulation CC, the Expedited Funds Availability Act or Regulation CC provision shall apply and subpart B of this part shall not apply. (c) Operating Circulars. The Federal Reserve Banks issue Operating Circulars consistent with this subpart that contain additional provisions applicable to payment orders and other messages sent through the Fedwire Funds Service. Under section 4A-107, these Operating Circulars supersede inconsistent provisions of Article 4A, both as set forth in appendix A of this part and as enacted in any state. These Operating Circulars are not funds-transfer system rules, but, by their terms, they are binding on all parties covered by this subpart. (d) Government senders, receiving banks, and beneficiaries. This section clarifies that unless a statute of the United States provides otherwise, subpart B of this part applies to governmental entities, domestic or foreign, including foreign central banks as specified in paragraph (b)(1) of this section. (e) Financial messaging standards. This paragraph makes clear that financial messaging standards, including the financial messaging components, elements, technical documentation, tags, and terminology used to implement those standards, do not confer or connote legal status or responsibilities. Instead, subpart B of this part and Federal Reserve Bank operating circulars govern the rights and obligations of parties to funds transfers sent through the Fedwire Funds Service as provided in Sec. 210.25(b). Thus, to the extent there is any inconsistency between a financial messaging standard adopted by the Fedwire Funds Service and subpart B of this part, subpart B of this part, including Article 4A as adopted in appendix B to subpart B of this part, will prevail. In the ISO 20022 financial messaging standard, for example, the term agent is used to refer to a variety of bank parties to a funds transfer (e.g., debtor agent, creditor agent, intermediary agent). Notwithstanding use of that term in the standard and in message tags, such banks are not the agents of any party to a funds transfer and owe no duty to any other party to such a funds transfer except as provided in subpart B of this part (including Article 4A) or by express agreement. The ISO 20022 financial messaging standard also permits information to be carried in a funds-transfer message regarding persons that are not parties to that funds transfer (e.g., ultimate debtor, ultimate creditor, initiating party) for regulatory, compliance, remittance, or other purposes. An ``ultimate debtor'' is not an ``originator'' as defined in Article 4A. The relationship between the ultimate debtor and the originator (what the ISO 20022 standard calls the ``debtor'') is determined by law other than Article 4A. Section 210.26--Definitions Article 4A defines many terms (e.g., beneficiary, intermediary bank, receiving bank, security procedure) used in subpart B of this part. These terms are defined or listed in sections 4A-103 through 4A-105. These terms, such as the term bank (defined in section 4A-105(d)(2)), may differ from comparable terms in subpart A and subpart C of this part. As [[Page 285]] subpart B of this part incorporates consistent provisions of Article 4A, it incorporates these definitions unless these terms are expressly defined otherwise in subpart B of this part. Subpart B modifies the definitions of five Article 4A terms, beneficiary, beneficiary's bank, payment order, receiving bank, and sender. Subpart B also defines terms not defined in Article 4A. Article 4A. Article 4A means the version of that article of the Uniform Commercial Code set forth in appendix A of this part. It does not refer to the law of any particular state unless the context indicates otherwise. Subject to the express provisions of this subpart, this version of Article 4A is incorporated into this subpart and made Federal law for transactions covered by subpart B of this part. (See Sec. 210.25(b)(1) and accompanying commentary.) Because section 4A-105 refers to other provisions of the Uniform Commercial Code (e.g., definitions in article 1 of the UCC), these other provisions of the UCC, as approved by the National Conference of Commissioners on Uniform State Laws, which is now also known as the Uniform Law Commission, and the American Law Institute, from time to time, are also incorporated into subpart B of this part. Beneficiary, beneficiary's bank, receiving bank, and sender. The definitions of ``beneficiary,'' ``beneficiary's bank,'' ``receiving bank,'' and ``sender'' in subpart B of this part differ from the definitions in sections 4A-103(a)(2) through (4). The subpart B definitions clarify that, for the purposes of subpart B of this part, these terms are limited to parties in a funds transfer that is sent through the Fedwire Funds Service. For example, the parties to a funds transfer that is sent through the FedNow Service would be governed by subpart C of this part, and would not be a ``beneficiary,'' ``beneficiary's bank,'' ``receiving bank,'' or ``sender'' governed by subpart B of this part. The subpart B definition of ``beneficiary's bank'' further clarifies that where a Federal Reserve Bank functions as the beneficiary's bank, it need not be identified in the payment order as the beneficiary's bank and that a Federal Reserve Bank that receives a payment order as beneficiary is also the beneficiary's bank with respect to that payment order. Fedwire Funds Service. This term refers to the funds-transfer system owned and operated by the Federal Reserve Banks that is governed by this subpart. The term does not refer to any particular computer, telecommunications facility, or funds transfer, but rather to the system as a whole, which may include transfers by telephone or by written instrument in particular circumstances. The term does not include the FedNow Service or the system used for automated clearing house transfers. Off-line bank. Most Fedwire payment orders are sent electronically from a sender to a Federal Reserve Bank or from a Federal Reserve Bank to a receiving bank. Banks that send payment orders to Federal Reserve Banks electronically are often referred to as on-line banks. Some Fedwire Funds Service participants, however, send payment orders to a Federal Reserve Bank or receive payment orders from a Federal Reserve Bank orally by telephone or, in unusual circumstances, in writing. A bank that does not use either a terminal or a computer that links it electronically to a terminal or computer at its Federal Reserve Bank to send payment orders through the Fedwire Funds Service is an off-line bank. Payment Order. (1) The definition of ``payment order'' in subpart B of this part differs from the section 4A-103(a)(1) definition. The subpart B definition clarifies that, for the purposes of subpart B of this part, the term includes only instructions transmitted through the Fedwire Funds Service. For example, instructions transmitted through the FedNow Service would be governed by subpart C of this part, and not subpart B of this part. Additionally, the subpart B definition provides that certain messages that are transmitted through the Fedwire Funds Service are not payment orders. Federal Reserve Banks and banks participating in the Fedwire Funds Service send various types of messages relating to payment orders or to other matters, through the Fedwire Funds Service, that are not intended to be payment orders. In some cases, messages sent through the Fedwire Funds Service, such as certain requests for credit transfer, may be payment orders under Article 4A, but are not treated as payment orders under subpart B because they are not an instruction to a Federal Reserve Bank to pay or cause another bank to pay money. Under the subpart B definition, these messages are not ``payment orders'' governed by subpart B of this part. The operating circulars of the Federal Reserve Banks may specify those messages that may be transmitted through the Fedwire Funds Service but that are not payment orders. (2) Subpart B of this part, including its incorporation of Article 4A, governs a payment order even though the originator's or beneficiary's account may be a consumer account established primarily for personal, family, or household purposes. Under section 4A-108, Article 4A does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act. That act and Regulation E (12 CFR part 1005) implementing it do not apply to funds transfers through the Fedwire Funds Service (see 15 U.S.C. 1693a(7)(B) and 12 CFR 1005.3(c)(3)), except that section 919 of the Electronic Fund Transfer Act may govern a Fedwire funds transfer that is a ``remittance transfer.'' Such remittance transfers that are Fedwire funds transfers continue to be governed by subpart B. Thus, subpart B applies to all [[Page 286]] funds transfers through the Fedwire Funds Service even though some such transfers involve originators or beneficiaries who are consumers. (See also Sec. 210.25(b) and accompanying commentary.) Section 210.27--Reliance on Identifying Number (a) Reliance by a Federal Reserve Bank on number to identify intermediary bank or beneficiary's bank. Section 4A-208 provides that a receiving bank, such as a Federal Reserve Bank, may rely on the routing number of an intermediary bank or the beneficiary's bank specified in a payment order as identifying the appropriate intermediary bank or beneficiary's bank, even if the payment order identifies another bank by name, provided that the receiving bank does not know of the inconsistency. Under section 4A-208(b)(2), if the sender of the payment order is not a bank, a receiving bank may rely on the number only if the sender had notice before the receiving bank accepted the sender's order that the receiving bank might rely on the number. This section provides this notice to entities that are not banks, such as the Department of the Treasury, that send payment orders directly to a Federal Reserve Bank. (b) Reliance by a Federal Reserve Bank on number to identify beneficiary. Section 4A-207 provides that a beneficiary's bank, such as a Federal Reserve Bank, may rely on the number identifying a beneficiary, such as the beneficiary's account number, specified in a payment order as identifying the appropriate beneficiary, even if the payment order identifies another beneficiary by name, provided that the beneficiary's bank does not know of the inconsistency. Under section 4A- 207(c)(2), if the originator is not a bank, an originator is not obliged to pay for a payment order if the originator did not have notice that the beneficiary's bank might rely on the identifying number and the person paid on the basis of the identifying number was not entitled to receive payment. This section of subpart B provides this notice to entities that are not banks, such as the Department of the Treasury, that are originators of payment orders sent directly by the originators to a Federal Reserve Bank, where that Federal Reserve Bank or another Federal Reserve Bank is the beneficiary's bank (see also section 4A- 402(b), providing that a sender must pay a beneficiary's bank for a payment order accepted by the beneficiary's bank). Section 210.28--Agreement of Sender (a) Payment of sender's obligation to a Federal Reserve Bank. When a sender sends a payment order to a Federal Reserve Bank and the Federal Reserve Bank accepts the payment order by issuing a conforming order executing the sender's payment order, under section 4A-402 the sender is indebted to the Federal Reserve Bank for the amount of the payment order. Section 4A-403 specifies the various methods by which a sender may settle the obligation under section 4A-402. With respect to a payment order sent through the Fedwire Funds Service, the obligation of a sender (other than a Federal Reserve Bank) is settled by a debit to the account of the sender at a Federal Reserve Bank. Section 210.28(a) provides that a sender, other than a Federal Reserve Bank, that maintains or uses an account at a Federal Reserve Bank authorizes the Federal Reserve Bank to debit that account so that the Federal Reserve Bank can obtain payment for the payment order. (b) Overdrafts. (1) In some cases, debits to a sender's account will create an overdraft in the sender's account. The Board and the Federal Reserve Banks have established policies concerning when a Federal Reserve Bank will permit a bank to incur an overdraft in its account at a Federal Reserve Bank. These policies do not give a bank or other sender a right to an overdraft in its account. Subpart B clarifies that a sender does not have a right to such an overdraft. If an overdraft arises, it becomes immediately due and payable at the earliest of the following times: The end of the Fedwire Funds Service funds-transfer business day; the time the Federal Reserve Bank, in its sole discretion, deems itself insecure and gives notice to the sender; or the time that the sender suspends payments or is closed by governmental action, such as the appointment of a receiver. In some cases, a Federal Reserve Bank extends its Fedwire Funds Service operations beyond the standard cut-off time for that funds-transfer business day. For the purposes of this section, unless otherwise specified by the Federal Reserve Bank making such an extension, an overdraft becomes due and payable at the end of the extended operating hours. An overdraft becomes due and payable prior to a Federal Reserve Bank's cut-off time if the Federal Reserve Bank deems itself insecure and gives notice to the sender. A Federal Reserve Bank that deems itself insecure may give such notice in accordance with the provisions on notice in section 1-202(d) of the UCC, in accordance with any other applicable law or agreement, or by any other reasonable means. An overdraft also becomes due and payable at the time that a bank is closed or suspends payments. For example, an overdraft becomes due and payable if a receiver is appointed for the bank or the bank is prevented from making payments by governmental order. The Federal Reserve Bank need not make demand on the sender for the overdraft to become due and payable. (2) A sender must cover any overdraft and any other obligation of the sender to the Federal Reserve Bank by the time the overdraft becomes due and payable. By sending a payment order to a Federal Reserve Bank, [[Page 287]] the sender grants a security interest to the Federal Reserve Bank in all of the assets of the sender possessed or controlled by, or held for the account of, the Federal Reserve Bank in order to secure all obligations due or to become due to the Federal Reserve Bank. The security interest attaches when the overdraft, or other obligation of the sender to the Federal Reserve Bank, becomes due and payable. The security interest does not apply to assets held by the sender as custodian or trustee for the sender's customers or third parties. Once an overdraft is due and payable, a Federal Reserve Bank may exercise its right of setoff, liquidate collateral, or take other similar action to satisfy the obligation the sender owes to the Federal Reserve Bank. (c) Review of payment orders. (1) Under section 4A-204, a receiving bank is required to refund the principal amount of an unauthorized payment order that the sender was not obliged to pay, together with interest on the refundable amount calculated from the date that the receiving bank received payment to the date of the refund. The sender is not entitled to compensation in the form of interest if the sender fails to exercise ordinary care to determine that the order was not authorized and to notify the receiving bank within a reasonable period of time after the sender receives a notice that the payment order was accepted or that the sender's account was debited with respect to the order. Similarly, under section 4A-304, if a sender of a payment order that was erroneously executed does not notify the bank receiving the payment order within a reasonable time, the bank is not liable to the sender for compensation in the form of interest on any amount refundable to the sender. Section 210.28(c) establishes 30 calendar days as the reasonable period of time for the purposes of these provisions of Article 4A. (2) Section 4A-505 provides that, in order for a customer to assert a claim objecting to a debit to its account by a receiving bank, the customer must notify the receiving bank of its objection within one year after the customer received notification reasonably identifying the payment order. Subpart B of this part does not vary this one-year claim preclusion period. Section 210.29--Agreement of Receiving Bank (b) Off-line banks. (1) Generally, an on-line bank receiving payment orders or advices of credit for payment orders from a Federal Reserve Bank receives the payment orders or advices electronically a short time after the corresponding payment orders are received by the on-line bank's Federal Reserve Bank. An off-line bank receiving payment orders or advices of credit from a Federal Reserve Bank does not have an electronic connection with the Federal Reserve Bank; therefore, payment orders or advices are transmitted either by telephone on the day the payment order is received by the receiving bank's Federal Reserve Bank, or sent by courier or mail along with the off-line bank's daily account statement, on the funds-transfer business day following the day the payment order is received by the off-line bank's Federal Reserve Bank. (2) Under section 4A-302(a)(2), a Federal Reserve Bank must transmit payment orders at a time and by means reasonably necessary to allow payment to the beneficiary on the payment date, or as soon thereafter as is feasible. Therefore, where an off-line receiving bank is an intermediary bank or beneficiary's bank in a payment order, its Federal Reserve Bank attempts to transmit the payment order to the off-line bank by telephone on the day the payment order is received by the Federal Reserve Bank. A Federal Reserve Bank can generally identify these payment orders from the type code designated in the payment order. (3) Under section 4A-404(b), if a payment order instructs payment to the account of the beneficiary, the beneficiary's bank must notify the beneficiary of the receipt of a payment order before midnight of the next funds-transfer business day following the payment date. Where an off-line bank is the beneficiary of a payment order, telephone notice by a Federal Reserve Bank to the off-line bank of the receipt of the order is not required by Article 4A because the Federal Reserve Bank sends notice to the off-line bank by courier or mail, along with its daily account statement, on the day after the payment order is received by its Federal Reserve Bank. Payment orders for which an off-line bank is the beneficiary of the order are generally designated as settlement transactions. (4) If an off-line receiving bank maintains an account for another bank, the off-line bank may receive payment orders designated as settlement transactions in its capacity as beneficiary's bank or intermediary bank. A Federal Reserve Bank cannot readily distinguish these payment orders from settlement transactions for which the off-line bank is the beneficiary of the order. If an off-line bank notifies its Federal Reserve Bank that it maintains an account for another bank, the Federal Reserve Bank will attempt to telephone the off-line bank with respect to all settlement transactions received by such bank, whether the off-line bank is the beneficiary, the beneficiary's bank, or an intermediary bank in the payment order. Under this section, an off-line bank that does not expressly notify its Federal Reserve Bank in writing that it maintains an account for another bank warrants to that Federal Reserve Bank that it does not act as an intermediary bank or a beneficiary's bank for a bank beneficiary with respect to payment orders received through Fedwire. [[Page 288]] Section 210.30--Payment Orders (a) Rejection. (1) A sender must make arrangements with its Federal Reserve Bank before it can send payment orders to the Federal Reserve Bank. Federal Reserve Banks reserve the right to reject or impose conditions on the acceptance of payment orders for any reason. For example, a Federal Reserve Bank might reject or impose conditions on accepting a payment order where a sender does not have sufficient funds in its account with the Federal Reserve Bank to cover the amount of the sender's payment order and other obligations of the sender due or to become due to the Federal Reserve Bank. A Federal Reserve Bank may require a sender to execute a written agreement concerning security procedures or other matters before the sender may send payment orders to the Federal Reserve Bank. (b) Selection of an intermediary bank. (1) Under section 4A-302, if a receiving bank (other than a beneficiary's bank), such as a Federal Reserve Bank, accepts a payment order, it must issue a payment order that complies with the sender's order. The sender's order may include instructions concerning an intermediary bank to be used that must be followed by a receiving bank (see section 4A-302(a)(1)). If the sender does not designate any intermediary bank in its payment order, the receiving bank may select an intermediary bank through which the sender's payment order can be expeditiously issued to the beneficiary's bank so long as the receiving bank exercises ordinary care in selecting the intermediary bank (see section 4A-302(b)). (2) This section provides that in an interdistrict transfer, a Federal Reserve Bank is authorized and directed to select another Federal Reserve Bank as an intermediary bank. A sender may, however, instruct a Federal Reserve Bank to use a particular intermediary bank by designating that bank as the bank to be credited by that Federal Reserve Bank (or the second Federal Reserve Bank in the case of an interdistrict transfer) in its payment order, in which case the Federal Reserve Bank will send the payment order to that bank if that bank receives payment orders through the Fedwire Funds Service. A sender may not instruct a Federal Reserve Bank to use its discretion to select an intermediary bank other than a Federal Reserve Bank or an intermediary bank designated by the sender. In addition, a sender may not send a payment order through the Fedwire Funds Service that instructs a Federal Reserve Bank to use a funds-transfer system or means of transmission other than the Fedwire Funds Service unless the sender and the Federal Reserve Bank agree in writing to the use of that funds-transfer system or means of transmission. (c) Execution date and payment date. Generally, the Fedwire Funds Service is a same-day value transfer system through which funds may be transferred from the originator to the beneficiary on the same funds- transfer business day. A sender may not send a payment order to a Federal Reserve Bank that specifies an execution date or payment date later than the day on which the payment order is issued, unless the sender of the order and the Federal Reserve Bank agree in writing to the arrangement. Section 210.31--Payment by a Federal Reserve Bank to a Receiving Bank or Beneficiary (a) Payment to a receiving bank. (1) Under section 4A-402, when a Federal Reserve Bank executes a sender's payment order by issuing a conforming order to a receiving bank that accepts the payment order, the Federal Reserve Bank must pay the receiving bank the amount of the payment order. Section 210.29(a) authorizes a Federal Reserve Bank to make the payment by crediting the account at the Federal Reserve Bank maintained or used by the receiving bank. Section 210.31(a) provides that the payment occurs when the receiving bank's account is credited or when the payment order is sent by the Federal Reserve Bank to the receiving bank, whichever is earlier. Ordinarily, payment will occur during the funds-transfer business day a short time after the payment order is received, even if the receiving bank is an off-line bank. This credit is final and irrevocable when made and constitutes final settlement under section 4A-403. Payment does not waive a Federal Reserve Bank's right of recovery under the applicable law of mistake and restitution (see Sec. 210.32(c)), affect a Federal Reserve Bank's right to apply the funds to any obligation due or to become due to the Federal Reserve Bank, or affect legal process or claims by third parties on the funds. (2) This section on final payment does not apply to settlement for payment orders between Federal Reserve Banks. These payment orders are settled by other means. (b) Payment to a beneficiary. Section 210.31(b) specifies when a Federal Reserve Bank makes payment to a beneficiary for which it is the beneficiary's bank. As in the case of payment to a receiving bank, this payment occurs at the earlier of the time that the Federal Reserve Bank credits the beneficiary's account or sends notice of the credit to the beneficiary, and is final and irrevocable when made. Section 210.32--Federal Reserve Bank Liability; Payment of Compensation (a) Damages. (1) Under section 4A-305(d), damages for failure of a receiving bank to execute a payment order that it was obligated to execute by express agreement are [[Page 289]] limited to expenses in the transaction and incidental expenses and interest and do not include additional damages, including consequential damages, unless they are provided for in an express written agreement of the receiving bank. This section clarifies that in connection with the handling of payment orders, Federal Reserve Banks may not agree to be liable for consequential damages under this provision and shall not be liable for damages other than those that may be due under Article 4A to parties governed by this subpart. Any agreement in conflict with these provisions would not be effective, because it would be in violation of subpart B. (2) This section does not affect the ability of other parties to a funds transfer to agree to be liable for consequential damages, the liability of a Federal Reserve Bank under section 4A-404 (relating to obligation of beneficiary's bank to pay and give notice to beneficiary), or the liability to parties governed by subpart B for claims not based on the handling of a payment order under subpart B. (b) Payment of compensation. (1) Under article 4A, a Federal Reserve Bank may be required to pay compensation in the form of interest to another party in connection with its handling of a funds transfer. For example, payment of compensation in the form of interest is required in certain situations pursuant to sections 4A-204 (relating to refund of payment and duty of customer to report with respect to unauthorized payment order), 4A-209 (relating to acceptance of payment order), 4A-210 (relating to rejection of payment order), 4A-304 (relating to duty of sender to report erroneously executed payment order), 4A-305 (relating to liability for late or improper execution or failure to execute a payment order), 4A-402 (relating to obligation of sender to pay receiving bank), and 4A-404 (relating to obligation of beneficiary's bank to pay and give notice to beneficiary). (2) Section 210.32(b) requires Federal Reserve Banks to provide compensation through payment in the form of interest. Under section 4A- 506(a), the amount of such interest may be determined by agreement between the sender and receiving bank or by funds-transfer system rule. If there is no such agreement, under section 4A-506(b), the amount of interest is based on the Federal funds rate. Similarly, compensation in the form of interest will be paid to government senders, receiving banks, or beneficiaries described in Sec. 210.25(d) if they are entitled to interest under subpart B. A Federal Reserve Bank may also, in its discretion, pay compensation in the form of interest directly to a remote party to a Fedwire funds transfer that is entitled to interest, rather than providing compensation to its sender or receiving bank. (3) If a sender or receiving bank that received a payment of compensation is not the party entitled to compensation under Article 4A, the sender or receiving bank must pass the benefit of the payment made to it to the party that is entitled to compensation. The benefit may be passed on either in the form of a direct payment of interest or in the form of a compensating balance if the party entitled to interest agrees to accept the other form of compensation. In the latter case, the value of the compensating balance must be at least equivalent to the value of the interest payment that otherwise would have been provided. (c) Nonwaiver of right of recovery. Several sections of Article 4A allow a party to a funds transfer to make a claim pursuant to the applicable law of mistake and restitution. Nothing in subpart B of this part or any operating circular issued in accordance with subpart B of this part waives any such claim by a Federal Reserve Bank. A Federal Reserve Bank, however, may waive such a claim by express written agreement in order to settle litigation or for other purposes. [55 FR 40801, Oct. 5, 1990; 55 FR 47428, Nov. 13, 1990, as amended by Reg. J, 77 FR 21859, Apr. 12, 2012; 83 FR 61517, 61522, Nov. 30, 2018; 87 FR 34359, June 6, 2022] Subpart C_Funds Transfers Through the FedNow Service Source: Reg. J, 87 FR 34362, June 6, 2022, unless otherwise noted. Sec. 210.40 Authority, purpose, and scope. (a) Authority and purpose. This subpart provides rules to govern funds transfers through the FedNow Service, and has been issued pursuant to the Federal Reserve Act--section 13 (12 U.S.C. 342), paragraph (f) of section 19 (12 U.S.C. 464), paragraph 14 of section 16 (12 U.S.C. 248(o)), and paragraphs (i) and (j) of section 11 (12 U.S.C. 248(i) and (j))--and other laws and has the force and effect of Federal law. This subpart is not a funds-transfer system rule as defined in Section 4A- 501(b) of Article 4A. (b) Scope. (1) This subpart incorporates the provisions of Article 4A set forth in appendix A of this part. In the event of an inconsistency between the provisions of the sections of this subpart and appendix A of this part, the provisions of the sections of this subpart shall prevail. (2) Except as otherwise provided in paragraphs (b)(3) and (4) of this section, [[Page 290]] this subpart, including Article 4A as incorporated herein and operating circulars of the Federal Reserve Banks issued in accordance with paragraph (c) of this section, governs the rights and obligations of the following parties with respect to the FedNow Service: (i) Federal Reserve Banks that send or receive payment orders; (ii) Senders that send payment orders directly to a Federal Reserve Bank; (iii) Receiving banks that receive payment orders directly from a Federal Reserve Bank; (iv) Beneficiaries that receive payment for payment orders by means of credit to the beneficiary's settlement account; and (v) Other parties to a funds transfer any part of which is carried out through the FedNow Service to the same extent as if this subpart were considered a funds-transfer system rule under Article 4A. (3) A Federal Reserve Bank that is not the sender's Federal Reserve Bank, receiving bank's Federal Reserve Bank, or beneficiary's Federal Reserve Bank is not a party to the funds transfer for purposes of this subpart and Article 4A. (4) This subpart governs a funds transfer that is sent through the FedNow Service, even if a portion of the funds transfer is governed by the Electronic Fund Transfer Act, but in the event of an inconsistency between the provisions this subpart and the Electronic Fund Transfer Act, the Electronic Fund Transfer Act shall prevail to the extent of the inconsistency. (c) Operating Circulars. Each Federal Reserve Bank shall issue an Operating Circular consistent with this subpart that governs the details of its funds-transfer operations in connection with the FedNow Service and other matters it deems appropriate. Among other things, the Operating Circular may: set cut-off times and funds-transfer business days; address security procedures offered by the Federal Reserve Banks to verify the authenticity of a payment order; specify format and media requirements for payment orders; specify the time and method of receipt, execution, and acceptance of a payment order and settlement of a Federal Reserve Bank's payment obligation for purposes of Article 4A; prescribe time limits for the processing of payment orders; specify service terms governing ancillary features of the FedNow Service; provide for the acceptance of documents in electronic form to the extent any provision in Article 4A requires an agreement or other document to be in writing; identify messages that are not payment orders; and impose charges for funds-transfer services. (d) Government senders, receiving banks, and beneficiaries. Except as otherwise expressly provided by the statutes of the United States, the parties specified in paragraphs (b)(2)(ii) through (v) of this section include a department, agency, instrumentality, independent establishment, or office of the United States, or a wholly-owned or controlled government corporation. (e) Financial messaging standards. Financial messaging standards (e.g., ISO 20022), including the financial messaging components, elements, technical documentation, tags, and terminology used to implement those standards, do not confer or connote legal status or responsibilities. This subpart, including Article 4A as incorporated herein, and the operating circulars of the Federal Reserve Banks issued in accordance with paragraph (c) of this section govern the rights and obligations of parties to funds transfers sent through the FedNow Service as provided in paragraph (b) of this section. To the extent there is any inconsistency between a financial messaging standard adopted by the Federal Reserve Banks for the FedNow Service and this subpart, this subpart shall prevail. Sec. 210.41 Definitions. As used in this subpart, the following definitions apply: Article 4A means Article 4A of the Uniform Commercial Code as set forth in appendix A of this part, which is incorporated into this subpart in accordance with Sec. 210.40(b). Beneficiary has the same meaning as in Article 4A, except that the term is limited to a beneficiary in a funds transfer that is sent through the FedNow Service. Beneficiary's bank has the same meaning as in Article 4A, except that: [[Page 291]] (1) The term is limited to a beneficiary's bank in a funds transfer that is sent through the FedNow Service; (2) A Federal Reserve Bank need not be identified in the payment order in order to be the beneficiary's bank; and (3) The term includes a Federal Reserve Bank when that Federal Reserve Bank is the beneficiary of a payment order. Federal Reserve Bank with respect to an entity means the Federal Reserve Bank in whose District the entity is located, as determined under the procedure described in Part 204 of this chapter (Regulation D), even if the entity is not otherwise subject to that section, or, if the entity maintains an account on the books of a different Federal Reserve Bank, the Federal Reserve Bank at which the entity maintains an account. FedNow Service means the funds-transfer system owned and operated by the Federal Reserve Banks to support instant payments that is used primarily for the transmission and settlement of payment orders governed by this subpart. The FedNow Service does not include the Fedwire Funds Service. Interdistrict transfer means a funds transfer involving entries to settlement accounts maintained at two Federal Reserve Banks. Payment order has the same meaning as in Article 4A, except that the term includes only instructions sent or received through the FedNow Service, and does not include automated clearing house transfers or any communication designated as not being a payment order in an Operating Circular issued by a Federal Reserve Bank under this subpart. Receiving bank has the same meaning as in Article 4A, except that the term is limited to a receiving bank in a funds transfer that is sent through the FedNow Service. Sender has the same meaning as in Article 4A, except that the term is limited to a sender in a funds transfer that is sent through the FedNow Service. Sender's settlement account, receiving bank's settlement account, and beneficiary's settlement account mean an account on the books of a Federal Reserve Bank maintained by the sender, receiving bank, or beneficiary, respectively. The term also includes any account on a Federal Reserve Bank's books used with respect to the FedNow Service by the sender, receiving bank, or beneficiary, respectively, by agreement with its Federal Reserve Bank, any other Federal Reserve Bank on whose books the settlement account is maintained, and the account-holder. Sec. 210.42 Reliance on identifying number. (a) Reliance by a Federal Reserve Bank on number to identify a beneficiary's bank. A Federal Reserve Bank that receives a payment order from a sender containing a number that identifies the beneficiary's bank may rely on the number, even if it identifies a bank different from the bank identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification. (b) Reliance by a Federal Reserve Bank on number to identify beneficiary. A Federal Reserve Bank, acting as a beneficiary's bank, that receives a payment order from a sender containing a number that identifies the beneficiary may rely on the number, even if it identifies a person different from the person identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification. Sec. 210.43 Agreement of sender. (a) Payment of sender's obligation to a Federal Reserve Bank. A sender (other than a Federal Reserve Bank), by maintaining or using a settlement account with a Federal Reserve Bank, authorizes the sender's Federal Reserve Bank to obtain payment for the sender's payment orders by debiting, or causing any other Federal Reserve Bank on whose books the settlement account is maintained to debit, the amount of the payment order from the settlement account. The sender remains responsible for payment if the Federal Reserve Bank on whose books the settlement account is maintained [[Page 292]] does not, for any reason, obtain payment by debiting that account. (b) Overdrafts. (1) A sender does not have the right to an overdraft in its settlement account. In the event an overdraft is created, the overdraft shall be due and payable immediately, without the need for a demand by the Federal Reserve Bank, at the earliest of the following times: (i) At the end of the FedNow funds-transfer business day; (ii) At the time the Federal Reserve Bank, in its sole discretion, deems itself insecure and gives notice thereof to the sender; or (iii) At the time the sender suspends payments or is closed. (2) The sender shall have in its settlement account, at the time the overdraft is due and payable, a balance of actually and finally collected funds sufficient to cover the aggregate amount of all its obligations to the Federal Reserve Bank, whether the obligations result from the acceptance of a payment order or otherwise. (3) To secure any overdraft, as well as any other obligation due or to become due to its Federal Reserve Bank, a sender, by sending a payment order to a Federal Reserve Bank that is accepted by the Federal Reserve Bank, grants to the Federal Reserve Bank a security interest in all of its assets in the possession or control of, or held for the account of, the Federal Reserve Bank. The security interest attaches when an overdraft, or any other obligation to the Federal Reserve Bank, becomes due and payable. (4) A Federal Reserve Bank may take any action authorized by law to recover the amount of an overdraft that is due and payable, including, but not limited to, the exercise of rights of set off, the realization on any available collateral, and any other rights it may have as a creditor under applicable law. (5) If a sender, other than a government sender described in Sec. 210.40(d), incurs an overdraft in its settlement account as a result of a debit to the account by a Federal Reserve Bank under paragraph (a) of this section, the settlement account will be subject to any applicable overdraft charges, regardless of whether the overdraft has become due and payable. A Federal Reserve Bank may debit the settlement account under paragraph (a) of this section immediately on acceptance of the payment order. (c) Review of payment orders. A sender, by sending a payment order to a Federal Reserve Bank, agrees that for the purposes of sections 4A- 204(a) and 4A-304 of Article 4A, a reasonable time to notify a Federal Reserve Bank of the relevant facts concerning an unauthorized or erroneously executed payment order is within 60 calendar days after the sender receives notice that the payment order was accepted or that the sender's settlement account was debited with respect to the payment order. Sec. 210.44 Agreement of receiving bank. (a) Payment. A receiving bank (other than a Federal Reserve Bank) that receives a payment order from its Federal Reserve Bank authorizes that Federal Reserve Bank to pay for the payment order by crediting, or causing any other Federal Reserve Bank on whose books the settlement account is maintained to credit, the amount of the payment order to the settlement account. (b) Funds availability. (1) A beneficiary's bank (other than a Federal Reserve Bank) that accepts a payment order over the FedNow Service is obliged to pay the amount of the order to the beneficiary of the order immediately after its acceptance of the payment order, by crediting an account of the beneficiary in accordance with section 4A- 405(a) of Article 4A. The rights and obligations with respect to the availability of funds are also governed by the Expedited Funds Availability Act and the Board's Regulation CC, Availability of Funds and Collection of Checks. (2) Nothing in paragraph (b)(1) of this section or any Operating Circular issued hereunder shall create any rights that the beneficiary or any party other than a Federal Reserve Bank may assert against the beneficiary's bank, or affect any liability of the beneficiary's bank to the beneficiary or any party other than a Federal Reserve Bank under Article 4A or other law. (3) In circumstances where the beneficiary's bank (other than a Federal [[Page 293]] Reserve Bank) has reasonable cause to believe that the beneficiary is not entitled or permitted to receive payment, the beneficiary's bank may notify its Federal Reserve Bank that it requires additional time to determine whether to accept the payment order. In the event the beneficiary's bank gives such notice to its Federal Reserve Bank, for purposes of this subpart and Article 4A the beneficiary's bank does not accept the payment order upon its receipt of payment in the amount of the payment order by a Federal Reserve Bank. Sec. 210.45 Payment orders. (a) Rejection. A sender shall not send a payment order to a Federal Reserve Bank unless authorized to do so by the Federal Reserve Bank. A Federal Reserve Bank may reject, or impose conditions that must be satisfied before it will accept, a payment order for any reason. (b) Selection of an intermediary bank. For an interdistrict transfer through the FedNow Service, a Federal Reserve Bank is authorized and directed to execute a payment order through another Federal Reserve Bank. A sender shall not send a payment order to a Federal Reserve Bank that requires the Federal Reserve Bank to send a payment order to an intermediary bank (other than a Federal Reserve Bank). A sender shall not send to a Federal Reserve Bank a payment order through the FedNow Service that instructs use by a Federal Reserve Bank of a funds-transfer system or means of transmission other than the FedNow Service, unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions. (c) Execution date and payment date. A sender shall not issue a payment order through the FedNow Service that instructs a Federal Reserve Bank to execute the payment order or to pay the beneficiary on a FedNow funds-transfer business day that is later than the funds-transfer business day on which the order is received by the Federal Reserve Bank, unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions. Sec. 210.46 Payment by a Federal Reserve Bank to a receiving bank or beneficiary. (a) Payment to a receiving bank. Payment of a Federal Reserve Bank's obligation to pay a receiving bank (other than a Federal Reserve Bank) occurs at the earlier of the time when the amount of the payment order is credited to the receiving bank's settlement account or when the payment order is sent to the receiving bank. (b) Payment to a beneficiary. Payment by a Federal Reserve Bank to a beneficiary of a payment order, where the Federal Reserve Bank is the beneficiary's bank, occurs at the earlier of the time when the amount of the payment order is credited to the beneficiary's settlement account or when notice of the credit is sent to the beneficiary. Sec. 210.47 Federal Reserve Bank liability; payment of compensation. (a) Damages. In connection with its handling of a payment order under this subpart, a Federal Reserve Bank shall not be liable to a sender, receiving bank, beneficiary, or other Federal Reserve Bank, governed by this subpart, for any damages other than those payable under Article 4A. A Federal Reserve Bank shall not agree to be liable to a sender, receiving bank, beneficiary, or other Federal Reserve Bank for consequential damages under section 4A-305(d) of Article 4A. (b) Payment of compensation. (1) A Federal Reserve Bank shall satisfy its obligation, or that of another Federal Reserve Bank, to pay compensation in the form of interest under Article 4A by paying such compensation to a sender, receiving bank, beneficiary, or another party to the funds transfer that is entitled to such payment in an amount that is calculated in accordance with section 4A-506 of Article 4A. (2) If the sender or receiving bank that is the recipient of the payment of compensation is not the party entitled to compensation under Article 4A, the sender or receiving bank shall pass through the benefit of the compensation by making an interest payment, as of the day the compensation was paid by the Federal Reserve Bank, to the party entitled to compensation. [[Page 294]] The interest payment that is made to the party entitled to compensation shall not be less than the value of the compensation that was paid by the Federal Reserve Bank to the sender or receiving bank. The party entitled to compensation may agree to accept compensation in a form other than a direct interest payment, provided that such an alternative form of compensation is not less than the value of the interest payment that otherwise would be made. (c) Nonwaiver of right of recovery. Nothing in this subpart or any operating circular issued hereunder shall constitute, or be construed as constituting, a waiver by a Federal Reserve Bank of a cause of action for recovery under any applicable law of mistake and restitution. Sec. Appendix A to Subpart C of Part 210--Commentary The Commentary provides background material to explain the intent of the Board of Governors of the Federal Reserve System (Board) in adopting a particular provision in the subpart and to help readers interpret that provision. In some comments, examples are offered. The Commentary constitutes an official Board interpretation of subpart C of this part. Commentary is not provided for every provision of subpart C of this part, as some provisions are self-explanatory. Section 210.40--Authority, Purpose, and Scope (a) Authority and purpose. Section 210.40(a) states that the purpose of subpart C of this part is to provide rules to govern funds transfers through the FedNow Service and recites the Board's rulemaking authority for this subpart. Subpart C of this part is Federal law and is not a ``funds-transfer system rule,'' as defined in section 4A-501(b) of Article 4A, Funds Transfers, of the Uniform Commercial Code (UCC), as set forth in appendix A of this part. Certain provisions of Article 4A may not be varied by a funds-transfer system rule, but under section 4A- 107, regulations of the Board and Operating Circulars of the Federal Reserve Banks supersede inconsistent provisions of Article 4A to the extent of the inconsistency. In addition, regulations of the Board may preempt inconsistent provisions of state law. Accordingly, subpart C of this part supersedes or preempts inconsistent provisions of state law. It does not affect state law governing funds transfers that does not conflict with the provisions of subpart C of this part, such as Article 4A, as enacted in any state, as such state law may apply to parties to funds transfers through the FedNow Service whose rights and obligations are not governed by subpart C of this part. (b) Scope. (1) Subpart C of this part incorporates the provisions of Article 4A set forth in appendix A of this part. The provisions set forth expressly in the sections of subpart C of this part supersede or preempt any inconsistent provisions of Article 4A as set forth in appendix A of this part or as enacted in any state. The official comments to Article 4A are not incorporated in subpart C of this part or this commentary to subpart C of this part, but the official comments may be useful in interpreting Article 4A as set forth in appendix A of this part. Because section 4A-105 refers to other provisions of the Uniform Commercial Code (e.g., definitions in article 1 of the UCC), these other provisions of the UCC, as approved by the National Conference of Commissioners on Uniform State Laws, which is now also known as the Uniform Law Commission, and the American Law Institute, from time to time, are also incorporated into subpart C of this part. Subpart C of this part applies to any party to a funds transfer sent through the FedNow Service that is in privity with a Federal Reserve Bank. These parties include a sender (bank or nonbank) that sends a payment order to a Federal Reserve Bank through the FedNow Service, a receiving bank that receives a payment order from a Federal Reserve Bank, and a beneficiary that receives credit to an account that it uses or maintains at a Federal Reserve Bank as payment for a payment order accepted by a Federal Reserve Bank. Subpart C of this part also applies to Federal Reserve Banks that send or receive payment orders over the FedNow Service. For example, if a sender settles its activity over the FedNow Service in the account of a correspondent bank, the sender's Federal Reserve Bank would be a bank in the funds transfer chain, but the Federal Reserve Bank of the correspondent bank would not be a sender or receiving bank with respect to the payment order and would not be a party to the funds transfer. Other parties to a funds transfer sent through the FedNow Service are covered by this subpart to the same extent that this subpart would apply to them if this subpart were a ``funds-transfer system rule'' under Article 4A that selected subpart C of this part as the governing law. (2) The scope of the applicability of a funds-transfer system rule under Article 4A is specified in section 4A-501(b), and the scope of the choice of law provision is specified in section 4A-507(c). Under section 4A-507(c), a choice of law provision is binding on the participants in a funds-transfer system and certain other parties having notice that the funds-transfer system might be used for the funds transfer and of the choice of law provision. The Uniform Commercial Code provides that a person has notice of a fact [[Page 295]] when the person has actual knowledge of it, receives a notice or notification of it, or has reason to know that it exists from all the facts and circumstances known to the person at the time in question. (See UCC sec. 1-202.) However, under sections 4A-507(b) and 4A-507(d), a choice of law by agreement of the parties takes precedence over a choice of law made by funds-transfer system rule. (3) With respect to funds transfers sent through the FedNow Service, if originators and beneficiaries that are not in privity with a Federal Reserve Bank have the notice contemplated by Section 4A-507(c) or if those parties agree to be bound by subpart C of this part, subpart C of this part generally would apply to those remote parties. If remote parties to a funds transfer, a portion of which is sent through the FedNow Service, have expressly selected by agreement a law other than subpart C of this part under section 4A-507(b), subpart C of this part would not take precedence over the choice of law made by the agreement even though the remote parties had notice that the FedNow Service may be used and of the governing law. (See 4A-507(d).) In addition, subpart C of this part would not apply to a funds transfer sent through a funds- transfer system other than the FedNow Service, even though settlement for the funds transfer is made by means of a separate funds transfer through the FedNow Service. (4) Under section 4A-108, Article 4A does not apply to a funds transfer, any part of which is governed by the Electronic Fund Transfer Act (EFTA) (15 U.S.C. 1693 et seq.). A funds transfer from a consumer originator or a funds transfer to a consumer beneficiary could be carried out through the FedNow Service and could potentially be subject to the EFTA and Regulation E (12 CFR part 1005) implementing it. If so, the funds transfer continues to also be governed by subpart C, except that, in the event of an inconsistency between the provisions of subpart C and the EFTA, the EFTA shall prevail to the extent of the inconsistency. (See also the commentary to section 210.41 in this appendix, ``Payment Order.'') For example, a funds transfer may be initiated from a consumer's account at a depository institution, and the depository institution may execute that payment order by sending a conforming payment order to a Reserve Bank through the FedNow Service. If that transfer is subject to the EFTA, then examples of how the provisions of subpart C may govern the transfer include, but are not limited to, the following: (i) Where the consumer subsequently gives timely notice that the transfer was an unauthorized electronic fund transfer to its depository institution and exercises the right to obtain a refund under the EFTA, the depository institution would be required to comply with the EFTA and the applicable provisions of the EFTA would govern the institution's obligations to its customer, even if under subpart C the institution does not have a right to receive a refund or reverse the payment order sent to the Reserve Bank through the FedNow Service. (ii) Where the customer properly asserts an error under the EFTA with respect to the transfer and exercises the right to obtain a refund to correct the error under the EFTA, the depository institution would be required to comply with the EFTA and the applicable provisions of the EFTA would govern the institution's obligations to its customer, even if under subpart C the institution is obliged to pay its payment order sent to the Reserve Bank through the FedNow Service. (c) Operating Circulars. The Federal Reserve Banks issue Operating Circulars consistent with this subpart that contain additional provisions applicable to payment orders and other messages sent through the FedNow Service. Under section 4A-107, this Operating Circular supersedes inconsistent provisions of Article 4A, both as set forth in appendix A of this part and as enacted in any state. These Operating Circulars are not funds-transfer system rules, but, by their terms, they are binding on all parties covered by this subpart. (d) Government senders, receiving banks, and beneficiaries. This section clarifies that unless a statute of the United States provides otherwise, subpart C of this part applies to governmental entities. (e) Financial messaging standards. This paragraph makes clear that financial messaging standards, including the financial messaging components, elements, technical documentation, tags, and terminology used to implement those standards, do not confer or connote legal status or responsibilities. Instead, subpart C of this part and Federal Reserve Bank operating circulars govern the rights and obligations of parties to funds transfers sent through the FedNow Service as provided in Sec. 210.40(b). Thus, to the extent there is any inconsistency between a financial messaging standard adopted by the FedNow Service and subpart C of this part, subpart C of this part, including Article 4A as set forth in appendix A of this part, will prevail. In the ISO 20022 financial messaging standard, for example, the term agent is used to refer to a variety of bank parties to a funds transfer (e.g., debtor agent, creditor agent, intermediary agent). Notwithstanding use of that term in the standard and in message tags, such banks are not the agents of any party to a funds transfer and owe no duty to any other party to such a funds transfer except as provided in subpart C of this part (including Article 4A) or by express agreement. The ISO 20022 financial messaging standard also permits information to be carried in a funds-transfer message regarding persons that are not parties to that [[Page 296]] funds transfer (e.g., ultimate debtor, ultimate creditor, initiating party) for regulatory, compliance, remittance, or other purposes. An ``ultimate debtor'' is not an ``originator'' as defined in Article 4A. The relationship between the ultimate debtor and the originator (what the ISO 20022 standard calls the ``debtor'') is determined by law other than Article 4A. Section 210.41-- Definitions Article 4A defines many terms (e.g., beneficiary, intermediary bank, receiving bank, security procedure) used in this subpart. These terms are defined or listed in sections 4A-103 through 4A-105. These terms, such as the term bank (defined in section 4A-105(d)(2)), may differ from comparable terms in subpart A and subpart B of this part. As subpart C of this part incorporates consistent provisions of Article 4A, it incorporates these definitions unless these terms are expressly defined otherwise in subpart C of this part. This subpart modifies the definitions of five Article 4A terms: beneficiary, beneficiary's bank, payment order, receiving bank, and sender. This subpart also defines terms not defined in Article 4A. Article 4A. Article 4A means the version of that article of the Uniform Commercial Code set forth in appendix A of this part. It does not refer to the law of any particular state unless the context indicates otherwise. Subject to the express provisions of this Subpart, this version of Article 4A is incorporated into this subpart and made Federal law for transactions covered by this subpart. (See Sec. 210.40(b)(1) and accompanying commentary.) Because section 4A-105 refers to other provisions of the Uniform Commercial Code (e.g., definitions in article 1 of the UCC) these other provisions of the UCC, as approved by the National Conference of Commissioners on Uniform State Laws, which is now also known as the Uniform Law Commission, and the American Law Institute, from time to time, are also incorporated in subpart C of this part. Beneficiary, beneficiary's bank, receiving bank, and sender. The definitions of ``beneficiary,'' ``beneficiary's bank,'' ``receiving bank,'' and ``sender'' in subpart C of this part differ from the definitions in sections 4A-103(a)(2)-(4). The subpart C definition clarifies that, for the purposes of subpart C of this part, these terms are limited to parties in a funds transfer that is sent through the FedNow Service. For example, the parties to a funds transfer that is sent through the Fedwire Funds Service would be governed by subpart B of this part, and would not be a ``beneficiary,'' ``beneficiary's bank,'' ``receiving bank,'' or ``sender'' governed by subpart C. The definition of ``beneficiary's bank'' in subpart C further clarifies that where a Federal Reserve Bank functions as the beneficiary's bank, it need not be identified in the payment order as the beneficiary's bank and that a Federal Reserve Bank that receives a payment order as beneficiary is also the beneficiary's bank with respect to that payment order. The FedNow Service. The FedNow Service refers to the funds-transfer system owned and operated by the Federal Reserve Banks to support instant payments that is governed by this Subpart. The term does not refer to any particular computer, telecommunications facility, or funds transfer, but rather to the system as a whole. The FedNow Service does not include the Fedwire Funds Service or the system used for automated clearing house transfers. Payment Order. (1) The definition of ``payment order'' in subpart C of this part differs from the section 4A-103(a)(1) definition. The subpart C definition clarifies that, for the purposes of subpart C of this part, the term includes only instructions transmitted through the FedNow Service. For example, instructions transmitted through the Fedwire Funds Service would be governed by subpart B of this part, and not subpart C. Additionally, the subpart C definition provides that certain messages that are transmitted through the FedNow Service are not payment orders. Federal Reserve Banks and banks participating in the FedNow Service send various types of messages relating to payment orders or to other matters, through the FedNow Service, that are not intended to be payment orders. In some cases, messages sent through the FedNow Service, such as certain requests for payment, may be payment orders under Article 4A, but are not treated as payment orders under subpart C because they are not an instruction to a Federal Reserve Bank to pay or cause another bank to pay money. Under the subpart C definition, these messages are not ``payment orders'' governed by this subpart. The operating circulars of the Federal Reserve Banks may specify those messages that may be transmitted through the FedNow Service but that are not payment orders. (2) Subpart C, including its incorporation of Article 4A, governs a payment order even though the originator's or beneficiary's account may be a consumer account established primarily for personal, family, or household purposes. Under section 4A-108, Article 4A does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act. That Act, and Regulation E (12 CFR part 1005) implementing it, may govern a transfer through the FedNow Service that is from a consumer originator or to a consumer beneficiary. In the event that a transfer through the FedNow Service is subject to the EFTA, the transfer continues to also be governed by this subpart, except that, in the event of an [[Page 297]] inconsistency between the provisions of subpart C and the EFTA, the EFTA shall prevail to the extent of the inconsistency. (See also Sec. 210.40(b) and accompanying commentary.) Thus, this subpart applies to all funds transfers through the FedNow Service even though some such transfers involve originators or beneficiaries that are consumers. Sender's settlement account, receiving bank's settlement account, and beneficiary's settlement account. A FedNow participant must designate an account on the books of a Federal Reserve Bank that the Federal Reserve Banks may use to settle the participant's activity over the FedNow Service. A FedNow participant may settle its activity over the FedNow Service in its master account. Alternatively, it may designate the account of a correspondent bank that the Federal Reserve Banks may use to settle activity through the service, subject to the correspondent bank's agreement to any such designation. Section 210.42--Reliance on Identifying Number (a) Reliance by a Federal Reserve Bank on number to identify intermediary bank or beneficiary's bank. Section 4A-208 provides that a receiving bank, such as a Federal Reserve Bank, may rely on the routing number of an intermediary bank or the beneficiary's bank specified in a payment order as identifying the appropriate intermediary bank or beneficiary's bank, even if the payment order identifies another bank by name, provided that the receiving bank does not know of the inconsistency. Under section 4A-208(b)(2), if the sender of the payment order is not a bank, a receiving bank may rely on the number only if the sender had notice before the receiving bank accepted the sender's order that the receiving bank might rely on the number. This section provides this notice to entities that are not banks, such as the Department of the Treasury, that send payment orders directly to a Federal Reserve Bank through the FedNow Service. (b) Reliance by a Federal Reserve Bank on number to identify beneficiary. Section 4A-207 provides that a beneficiary's bank, such as a Federal Reserve Bank, may rely on the number identifying a beneficiary, such as the beneficiary's account number, specified in a payment order as identifying the appropriate beneficiary, even if the payment order identifies another beneficiary by name, provided that the beneficiary's bank does not know of the inconsistency. Under section 4A- 207(c)(2), if the originator is not a bank, an originator is not obliged to pay for a payment order if the originator did not have notice that the beneficiary's bank might rely on the identifying number and the person paid on the basis of the identifying number was not entitled to receive payment. This section of subpart C provides this notice to entities that are not banks, such as the Department of the Treasury, that are originators of payment orders sent directly by the originators to a Federal Reserve Bank through the FedNow Service, where that Federal Reserve Bank or another Federal Reserve Bank is the beneficiary's bank (see also section 4A-402(b), providing that a sender must pay a beneficiary's bank for a payment order accepted by the beneficiary's bank). Section 210.43--Agreement of Sender (a) Payment of sender's obligation to a Federal Reserve Bank. When a sender sends a payment order to a Federal Reserve Bank and the Federal Reserve Bank accepts the payment order by issuing a conforming order executing the sender's payment order, under section 4A-402, the sender is indebted to the Federal Reserve Bank for the amount of the payment order. Section 4A-403 specifies the various methods by which a sender may settle the obligation under section 4A-402. With respect to a payment order sent through the FedNow Service, the obligation of a sender (other than a Federal Reserve Bank) is settled by a debit to the account of the sender at a Federal Reserve Bank. Section 210.43(a) provides that a sender, other than a Federal Reserve Bank, that maintains or uses a settlement account at a Federal Reserve Bank authorizes its Federal Reserve Bank to debit, or cause any other Federal Reserve Bank on whose books the settlement account is maintained to debit, that account, so that the Federal Reserve Bank can obtain payment for the payment order. (b) Overdrafts. (1) In some cases, debits to a sender's settlement account will create an overdraft in the settlement account. The Board and the Federal Reserve Banks have established policies concerning when a Federal Reserve Bank will permit a bank to incur an overdraft in its account at a Federal Reserve Bank. These policies do not give a bank or other sender a right to an overdraft in its account. Subpart C clarifies that a sender does not have a right to such an overdraft. If an overdraft arises, it becomes immediately due and payable at the earliest of the following times: The end of the FedNow funds-transfer business day; the time the Federal Reserve Bank in its sole discretion, deems itself insecure and gives notice to the sender; or the time that the sender suspends payments or is closed by governmental action, such as the appointment of a receiver. In some cases, a Federal Reserve Bank extends its FedNow operations beyond the standard cut-off time for that FedNow funds-transfer business day. For the purposes of this section, unless otherwise specified by the Federal Reserve Bank making such an extension, an overdraft becomes due and payable at the end of the extended operating hours. An overdraft becomes due and payable prior to a Federal Reserve [[Page 298]] Bank's cut-off time if the Federal Reserve Bank deems itself insecure and gives notice to the sender. A Federal Reserve Bank that deems itself insecure may give such notice in accordance with the provisions on notice in section 1-202(d) of the UCC, in accordance with any other applicable law or agreement, or by any other reasonable means. An overdraft also becomes due and payable at the time that a bank is closed or suspends payments. For example, an overdraft becomes due and payable if a receiver is appointed for the bank or the bank is prevented from making payments by governmental order. The Federal Reserve Bank need not make demand on the sender for the overdraft to become due and payable. (2) A sender must cover any overdraft and any other obligation of the sender to the Federal Reserve Bank by the time the overdraft becomes due and payable. By sending a payment order to a Federal Reserve Bank, the sender grants a security interest to the Federal Reserve Bank in all of the assets of the sender possessed or controlled by, or held for the account of, the Federal Reserve Bank in order to secure all obligations due or to become due to the Federal Reserve Bank. The security interest attaches when the overdraft, or other obligation of the sender to the Federal Reserve Bank, becomes due and payable. The security interest does not apply to assets held by the sender as custodian or trustee for the sender's customers or third parties. Once an overdraft is due and payable, a Federal Reserve Bank may exercise its right of set off, liquidate collateral, or take other similar action to satisfy the obligation the sender owes to the Federal Reserve Bank. (c) Review of payment orders. (1) Under section 4A-204, a receiving bank is required to refund the principal amount of an unauthorized payment order that the sender was not obliged to pay, together with interest on the refundable amount calculated from the date that the receiving bank received payment to the date of the refund. The sender is not entitled to compensation in the form of interest if the sender fails to exercise ordinary care to determine that the order was not authorized and to notify the receiving bank within a reasonable time after the sender receives a notice that the payment order was accepted or that the sender's account was debited with respect to the order. Similarly, under section 4A-304, if a sender of a payment order that was erroneously executed does not notify the bank receiving the payment order within a reasonable time, the bank is not liable to the sender for compensation in the form of interest on any amount refundable to the sender. Section 210.43(c) establishes 60 calendar days as the reasonable period of time for the purposes of these provisions of Article 4A. (2) Section 4A-505 provides that in order for a customer to assert a claim objecting to a debit to its account by a receiving bank, the customer must notify the receiving bank of its objection within one year after the customer received notification reasonably identifying the payment order. Subpart C of this part does not vary this one-year claim preclusion period. Section 210.44--Agreement of Receiving Bank (b) Funds availability. (1) Section 4A-209(b) provides that a beneficiary's bank accepts a payment order at the earliest of certain specified events, including when the bank receives payment for the entire amount of the order from the sender (see section 4A-209(b)(2)). Section 4A-404(a) provides that if a beneficiary's bank accepts a payment order, it is obliged to pay the amount of a payment order to the beneficiary on the payment date unless acceptance of the payment order occurs on the payment date after the close of the funds-transfer business day of the bank. Section 4A-405(a) provides that if a beneficiary's bank pays the beneficiary by crediting an account of the beneficiary on its own books, payment of the bank's obligation under Section 4A-404(a) occurs when and to the extent (i) the bank notifies the beneficiary that it may withdraw the amount of the credit, (ii) the bank lawfully applies the credit to a debt of the beneficiary, or (iii) funds with respect to the payment order are otherwise made available to the beneficiary by the bank. (2) Section 210.44(b)(1) provides that if a FedNow participant that is the beneficiary's bank accepts a payment order, it must pay the beneficiary by credit to the beneficiary's account in accordance with section 4A-405(a) of Article 4A, and it must do so immediately after its acceptance of the payment order. This section further clarifies that the provisions of the Expedited Funds Availability Act (12 U.S.C. 4002(a)) and its implementing regulation, Regulation CC (12 CFR part 229), also govern. Regulation CC provides that funds received by a bank by an electronic payment shall be available for withdrawal not later than the business day after the banking day on which such funds are received. (12 CFR 229.10(b).) Because Subpart C of this part requires funds to be made available on a more prompt basis than the availability requirements of the Expedited Funds Availability Act and Regulation CC, that act and Regulation CC do not preempt or invalidate subpart C. For example, if a beneficiary's bank accepts a payment order through the FedNow Service at 10 a.m. but does not make funds available to the beneficiary until 5 p.m., the bank has failed to satisfy its obligations under subpart C of this part even if it has satisfied its obligations under Regulation CC. [[Page 299]] (3) Section 210.44(b)(2) clarifies that the obligation for the beneficiary's bank to provide immediate funds availability to the beneficiary under Sec. 210.44(b)(1), and any Operating Circular issued in accordance with subpart C, should not be construed as creating any rights that the beneficiary or any party other than a Federal Reserve Bank may assert against the beneficiary's bank, or affect any liability of the beneficiary's bank to the beneficiary or any party other than a Federal Reserve Bank under Article 4A or other law. In the example above, where the beneficiary's bank accepts a payment order through the FedNow Service at 10 a.m. but does not make funds available to the beneficiary until 5 p.m., the bank has failed to satisfy its obligations under Sec. 210.44(b)(1) but the beneficiary would not have a claim or right to assert against the bank under that provision. (4) Section 210.46(a) provides that payment by a Federal Reserve Bank to a receiving bank occurs when the receiving bank's settlement account is credited or when the payment order is sent by the Federal Reserve Bank to the receiving bank, whichever is earlier, and would ordinarily be considered acceptance of the payment order by the beneficiary's bank under section 4A-209(b). Section 210.44(b)(3) provides that notwithstanding section 4A-209(b), in certain circumstances a beneficiary's bank is not deemed to accept a payment order at such time as it receives payment from its Federal Reserve Bank. Specifically, where the beneficiary's bank has reasonable cause to believe that the beneficiary is not entitled or permitted to receive payment and the beneficiary's bank notifies its Federal Reserve Bank that it requires additional time to determine whether to accept the payment order, this section provides that for purposes of subpart C and Article 4A, the beneficiary's bank does not accept the payment order even if it has received payment for the entire amount of the order from its Federal Reserve Bank as provided in Sec. 210.46. For example, if the beneficiary's bank has reasonable cause to believe that making funds available to the beneficiary may violate applicable U.S. sanctions, the beneficiary's bank may notify its Federal Reserve Bank that it requires additional time to determine whether to accept the payment order, including to investigate if the beneficiary is subject to applicable sanctions. As an additional example, if the beneficiary's bank has reasonable cause to believe that a particular payment order may be related to fraudulent activity, the beneficiary's bank may notify its Federal Reserve Bank that it requires additional time to determine whether to accept the payment order, including to investigate the suspected fraudulent activity. In both examples, in the event the beneficiary's bank gives such notice, the beneficiary's bank would not be deemed to have accepted the payment order at the time it receives payment from its Federal Reserve Bank. Section 210.45--Payment Orders (a) Rejection. (1) A sender must make arrangements with its Federal Reserve Bank before it can send payment orders to the Federal Reserve Bank. Federal Reserve Banks reserve the right to reject or impose conditions on the acceptance of payment orders for any reason. For example, a Federal Reserve Bank might reject or impose conditions on accepting a payment order where a sender does not have sufficient funds in its settlement account with the Federal Reserve Bank to cover the amount of the sender's payment order and other obligations of the sender due or to become due to the Federal Reserve Bank. As a further example, a Federal Reserve Bank may reject a payment order that is not successfully processed within time limits established by the Federal Reserve Banks. A Federal Reserve Bank may require a sender to execute a written agreement concerning security procedures or other matters before the sender may send payment orders to the Federal Reserve Bank. (b) Selection of an intermediary bank. (1) Under section 4A-302, if a receiving bank (other than a beneficiary's bank), such as a Federal Reserve Bank, accepts a payment order, it must issue a payment order that complies with the sender's order. The sender's order may include instructions concerning an intermediary bank to be used that must be followed by a receiving bank (see section 4A-302(a)(1)). If the sender does not designate any intermediary bank in its payment order, the receiving bank may select an intermediary bank through which the sender's payment order can be expeditiously issued to the beneficiary's bank so long as the receiving bank exercises ordinary care in selecting the intermediary bank (see section 4A-302(b)). (2) This section provides that in an interdistrict transfer, a Federal Reserve Bank is authorized and directed to select another Federal Reserve Bank as an intermediary bank. A sender may not instruct a Federal Reserve Bank to use a particular intermediary bank or to use its discretion to select an intermediary bank other than a Federal Reserve Bank. In addition, a sender may not send a payment order through the FedNow Service that instructs a Federal Reserve Bank to use a funds- transfer system or means of transmission other than the FedNow Service, unless the sender and the Federal Reserve Bank agree in writing to the use of that funds-transfer system or means of transmission. (c) Execution date and payment date. (1) Under 4A-301(b), the ``execution date'' of a [[Page 300]] payment order means the day on which the receiving bank may properly issue a payment order in execution of the sender's order. Under section 4A-401, the ``payment date'' of a payment order is the day on which the amount of the order is payable to the beneficiary by the beneficiary's bank. The execution date and the payment date may be determined by instruction of the sender but cannot be earlier than the day the order is received and, unless otherwise determined, is the day the order is received (see sections 4A-301(b) and 4A-401). Section 4A-106, provides for the time that a payment order is received, including in the event that a receiving bank fixes a cut-off time for the receipt and processing of payment orders. If the bank receives a payment order after its cut-off time, the bank may treat the payment order as received at the opening of the next funds-transfer business day (see section 4A- 106(a)). (2) The FedNow Service is designed to be an instant value transfer system through which funds may be transferred from the originator to the beneficiary on the same funds-transfer business day. This section provides that a sender may not send a payment order to a Federal Reserve Bank that specifies an execution date or payment date later than the day on which the payment order is issued, unless the sender of the order and the Federal Reserve Bank agree in writing to the arrangement. Section 210.46--Payment by a Federal Reserve Bank to a Receiving Bank or Beneficiary (a) Payment to a receiving bank. (1) Under section 4A-402, when a Federal Reserve Bank executes a sender's payment order by issuing a conforming order to a receiving bank that accepts the payment order, the Federal Reserve Bank must pay the receiving bank the amount of the payment order. Section 210.44(a) authorizes a Federal Reserve Bank to make the payment by crediting, or causing any other Federal Reserve Bank on whose books the settlement account is maintained to credit, the settlement account of the receiving bank. Section 210.46(a) provides that the payment occurs when the receiving bank's settlement account is credited or when the payment order is sent by the Federal Reserve Bank to the receiving bank, whichever is earlier. Ordinarily, payment will occur during the FedNow funds-transfer business day a short time after the payment order is received. This credit is final and irrevocable when made and constitutes final settlement under section 4A-403. Payment does not waive a Federal Reserve Bank's right of recovery under the applicable law of mistake and restitution (see Sec. 210.47(c)), affect a Federal Reserve Bank's right to apply the funds to any obligation due or to become due to the Federal Reserve Bank, or affect legal process or claims by third parties on the funds. (2) This section on final payment does not apply to settlement for payment orders between Federal Reserve Banks. These payment orders are settled by other means. (b) Payment to a beneficiary. Section 210.46(b) specifies when a Federal Reserve Bank makes payment to a beneficiary for which it is the beneficiary's bank. As in the case of payment to a receiving bank, this payment occurs at the earlier of the time that the Federal Reserve Bank credits the beneficiary's settlement account or sends notice of the credit to the beneficiary, and is final and irrevocable when made. Section 210.47--Federal Reserve Bank Liability; Payment of Compensation (a) Damages. (1) Under section 4A-305(d), damages for failure of a receiving bank to execute a payment order that it was obligated to execute by express agreement are limited to expenses in the transaction and incidental expenses and interest and do not include additional damages, including consequential damages, unless they are provided for in an express written agreement of the receiving bank. This section clarifies that in connection with the handling of payment orders, Federal Reserve Banks may not agree to be liable for consequential damages under this provision and shall not be liable for damages other than those that may be due under Article 4A to parties governed by this subpart. Any agreement in conflict with these provisions would not be effective, because it would be in violation of subpart C. (2) This section does not affect the ability of other parties to a funds transfer to agree to be liable for consequential damages, the liability of a Federal Reserve Bank under section 4A-404 (relating to obligation of beneficiary's bank to pay and give notice to beneficiary), or the liability to parties governed by subpart C for claims not based on the handling of a payment order under subpart C. (b) Payment of compensation. (1) Under Article 4A, a Federal Reserve Bank may be required to pay compensation in the form of interest to another party in connection with its handling of a funds transfer. For example, payment of compensation in the form of interest is required in certain situations pursuant to sections 4A-204 (relating to refund of payment and duty of customer to report with respect to unauthorized payment order), 4A-209 (relating to acceptance of payment order), 4A-210 (relating to rejection of payment order), 4A-304 (relating to duty of sender to report erroneously executed payment order), 4A-305 (relating to liability for late or improper execution or failure to execute a payment order), 4A-402 (relating to obligation of sender to pay receiving bank), [[Page 301]] and 4A-404 (relating to obligation of beneficiary's bank to pay and give notice to beneficiary). (2) Section 210.47(b) requires Federal Reserve Banks to provide compensation through payment in the form of interest. Under section 4A- 506(a), the amount of such interest may be determined by agreement between the sender and receiving bank or by funds-transfer system rule. If there is no such agreement, under section 4A-506(b), the amount of interest is based on the Federal funds rate. Similarly, compensation in the form of interest will be paid to government senders, receiving banks, or beneficiaries described in Sec. 210.40(d) if they are entitled to interest under subpart C. A Federal Reserve Bank may also, in its discretion, pay compensation in the form of interest directly to a remote party to a transfer through the FedNow Service that is entitled to interest, rather than providing compensation to its sender or receiving bank. (3) If a sender or receiving bank that received a payment of compensation is not the party entitled to compensation under Article 4A, the sender or receiving bank must pass the benefit of the compensation payment made to it to the party that is entitled to compensation. The benefit may be passed on either in the form of a direct payment of interest or in the form of a compensating balance, if the party entitled to interest agrees to accept the other form of compensation. In the latter case, the value of the compensating balance must be at least equivalent to the value of the interest payment that otherwise would have been provided. (c) Nonwaiver of right of recovery. Several sections of Article 4A allow a party to a funds transfer to make a claim pursuant to the applicable law of mistake and restitution. Nothing in subpart C of this part or any Operating Circular issued in accordance with subpart C of this part waives any such claim by a Federal Reserve Bank. A Federal Reserve Bank, however, may waive such a claim by express written agreement in order to settle litigation or for other purposes. Sec. Appendix A to Part 210--Article 4A, Funds Transfers Part 1--Subject Matter and Definitions Section 4A-101. Short Title This Article may be cited as Uniform Commercial Code--Funds Transfers. Section 4A-102. Subject Matter Except as otherwise provided in section 4A-108, this Article applies to funds transfers defined in section 4A-104. Section 4A-103. Payment Order--Definitions (a) In this Article: (1) Payment order means an instruction of a sender to a receiving bank, transmitted orally, electronically, or in writing, to pay, or to cause another bank to pay, a fixed or determinable amount of money to a beneficiary if: (i) The instruction does not state a condition to payment to the beneficiary other than time of payment, (ii) The receiving bank is to be reimbursed by debiting an account of, or otherwise receiving payment from, the sender, and (iii) The instruction is transmitted by the sender directly to the receiving bank or to an agent, funds-transfer system, or communication system for transmittal to the receiving bank. (2) Beneficiary means the person to be paid by the beneficiary's bank. (3) ``Beneficiary's bank'' means the bank identified in a payment order in which an account of the beneficiary is to be credited pursuant to the order or which otherwise is to make payment to the beneficiary if the order does not provide for payment to an account. (4) Receiving bank means the bank to which the sender's instruction is addressed. (5) Sender means the person giving the instruction to the receiving bank. (b) If an instruction complying with paragraph (a)(1) of this section is to make more than one payment to a beneficiary, the instruction is a separate payment order with respect to each payment. (c) A payment order is issued when it is sent to the receiving bank. Section 4A-104. Funds Transfer--Definitions In this Article: (a) Funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order. (b) Intermediary bank means a receiving bank other than the originator's bank or the beneficiary's bank. (c) Originator means the sender of the first payment order in a funds transfer. (d) Originator's bank means: (1) The receiving bank to which the payment order of the originator is issued if the originator is not a bank; or (2) The originator if the originator is a bank. Section 4A-105. Other Definitions (a) In this Article: [[Page 302]] (1) Authorized account means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, any account of the customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of that account. (2) Bank means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company. A branch or separate office of a bank is a separate bank for purposes of this Article. (3) Customer means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders. (4) Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders. (5) Funds-transfer system means a wire transfer network, automated clearing house, or other communication system of a clearing house or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed. (6) Good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing. (7) Prove with respect to a fact means to meet the burden of establishing the fact (Section 1-201(8)). (b) Other definitions applying to this Article and the sections in which they appear are: ``Acceptance'' .....Sec. 4A-209 ``Beneficiary'' .....Sec. 4A-103 ``Beneficiary's bank'' .....Sec. 4A-103 ``Executed'' .....Sec. 4A-301 ``Execution date'' .....Sec. 4A-301 ``Funds transfer'' .....Sec. 4A-104 ``Funds-transfer system rule'' .....Sec. 4A-501 ``Intermediary bank'' .....Sec. 4A-104 ``Originator'' .....Sec. 4A-104 ``Originator's bank'' .....Sec. 4A-104 ``Payment by beneficiary's bank to beneficiary'' .....Sec. 4A-405 ``Payment by originator to beneficiary'' .....Sec. 4A-406 ``Payment by sender to receiving bank'' .....Sec. 4A-403 ``Payment date'' .....Sec. 4A-401 ``Payment order'' .....Sec. 4A-103 ``Receiving bank'' .....Sec. 4A-103 ``Security procedure'' .....Sec. 4A-201 ``Sender'' .....Sec. 4A-103 (c) The following definitions in Article 4 apply to this Article: ``Clearing house'' .....Sec. 4-104 ``Item'' .....Sec. 4-104 ``Suspends payments'' .....Sec. 4-104 (d) In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article. Section 4A-106. Time Payment Order Is Received (a) The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice stated in Section 1-201(27). A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and communications canceling or amending payment orders. Different cut-off times may apply to payment orders, cancellations, or amendments, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off times may apply to different senders or categories of payment orders. If a payment order or communication canceling or amending a payment order is received after the close of a funds-transfer business day or after the appropriate cut-off time on a funds-transfer business day, the receiving bank may treat the payment order or communication as received at the opening of the next funds-transfer business day. (b) If this Article refers to an execution date or payment date or states a day on which a receiving bank is required to take action, and the date or day does not fall on a funds-transfer business day, the next day that is a funds-transfer business day is treated as the date or day stated, unless the contrary is stated in this Article. Section 4A-107. Federal Reserve Regulations and Operating Circulars Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent provision of this Article to the extent of the inconsistency. Section 4A-108. Relationship to Electronic Fund Transfer Act (a) Except as provided in subsection (b), this Article does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act of 1978 (Title XX, Pub. L. 95-630, 92 Stat. 3728, 15 U.S.C. 1693 et seq.) as amended from time to time. (b) This Article applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. 1693o-1) as amended from time to time, unless the remittance transfer is an electronic fund transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. 1693a) as amended from time to time. [[Page 303]] (c) In a funds transfer to which this Article applies, in the event of an inconsistency between an applicable provision of this Article and an applicable provision of the Electronic Fund Transfer Act, the provision of the Electronic Fund Transfer Act governs to the extent of the inconsistency. Part 2--Issue and Acceptance of Payment Order Section 4A-201. Security Procedure Security procedure means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment order or communication amending or canceling a payment order is that of the customer, or (ii) detecting error in the transmission or the content of the payment order or communication. A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure. Section 4A-202. Authorized and Verified Payment Orders (a) A payment order received by the receiving bank is the authorized order of the person identified as sender if that person authorized the order or is otherwise bound by it under the law of agency. (b) If a bank and its customer have agreed that the authenticity of payment orders issued to the bank in the name of the customer as sender will be verified pursuant to a security procedure, a payment order received by the receiving bank is effective as the order of the customer, whether or not authorized, if (i) the security procedure is a commercially reasonable method of providing security against unauthorized payment orders, and (ii) the bank proves that it accepted the payment order in good faith and in compliance with the security procedure and any written agreement or instruction of the customer restricting acceptance of payment orders issued in the name of the customer. The bank is not required to follow an instruction that violates a written agreement with the customer or notice of which is not received at a time and in a manner affording the bank a reasonable opportunity to act on it before the payment order is accepted. (c) Commercial reasonableness of a security procedure is a question of law to be determined by considering the wishes of the customer expressed to the bank, the circumstances of the customer known to the bank, including the size, type, and frequency of payment orders normally issued by the customer to the bank, alternative security procedures offered to the customer, and security procedures in general use by customers and receiving banks similarly situated. A security procedure is deemed to be commercially reasonable if (i) the security procedure was chosen by the customer after the bank offered, and the customer refused, a security procedure that was commercially reasonable for that customer, and (ii) the customer expressly agreed in writing to be bound by any payment order, whether or not authorized, issued in its name and accepted by the bank in compliance with the security procedure chosen by the customer. (d) The term sender in this Article includes the customer in whose name a payment order is issued if the order is the authorized order of the customer under subsection (a) of this section, or it is effective as the order of the customer under subsection (b) of this section. (e) This section applies to amendments and cancellations of payment orders to the same extent it applies to payment orders. (f) Except as provided in this section and in section 4A-203(a)(1), rights and obligations arising under this section or section 4A-203 may not be varied by agreement. Section 4A-203. Unenforceability of Certain Verified Payment Orders (a) If an accepted payment order is not, under section 4A-202(a), an authorized order of a customer identified as sender, but is effective as an order of the customer pursuant to section 4A-202(b), the following rules apply: (1) By express written agreement, the receiving bank may limit the extent to which it is entitled to enforce or retain payment of the payment order. (2) The receiving bank is not entitled to enforce or retain payment of the payment order if the customer proves that the order was not caused, directly or indirectly, by a person (i) entrusted at any time with duties to act for the customer with respect to payment orders or the security procedure, or (ii) who obtained access to transmitting facilities of the customer or who obtained, from a source controlled by the customer and without authority of the receiving bank, information facilitating breach of the security procedure, regardless of how the information was obtained or whether the customer was at fault. Information includes any access device, computer software, or the like. (b) This section applies to amendments of payment orders to the same extent it applies to payment orders. Section 4A-204. Refund of Payment and Duty of Customer To Report With Respect to Unauthorized Payment Order (a) If a receiving bank accepts a payment order issued in the name of its customer as [[Page 304]] sender which is (i) not authorized and not effective as the order of the customer under section 4A-202, or (ii) not enforceable, in whole or in part, against the customer under section 4A-203, the bank shall refund any payment of the payment order received from the customer to the extent the bank is not entitled to enforce payment and shall pay interest on the refundable amount calculated from the date the bank received payment to the date of the refund. However, the customer is not entitled to interest from the bank on the amount to be refunded if the customer fails to exercise ordinary care to determine that the order was not authorized by the customer and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the date the customer received notification from the bank that the order was accepted or that the customer's account was debited with respect to the order The bank is not entitled to any recovery from the customer on account of a failure by the customer to give notification as stated in this section. (b) Reasonable time under subsection (a) of this section may be fixed by agreement as stated in section 1-204(1), but the obligation of a receiving bank to refund payment as stated in subsection (a) may not otherwise be varied by agreement. Section 4A-205. Erroneous Payment Orders (a) If an accepted payment order was transmitted pursuant to a security procedure for the detection of error and the payment order (i) erroneously instructed payment to a beneficiary not intended by the sender, (ii) erroneously instructed payment in an amount greater than the amount intended by the sender, or (iii) was an erroneously transmitted duplicate of a payment order previously sent by the sender, the following rules apply: (1) If the sender proves that the sender or a person acting on behalf of the sender pursuant to section 4A-206 complied with the security procedure and that the error would have been detected if the receiving bank had also complied, the sender is not obliged to pay the order to the extent stated in this paragraphs (2) and (3). (2) If the funds transfer is completed on the basis of an erroneous payment order described in clause (i) or (iii) of subsection (a), the sender is not obliged to pay the order and the receiving bank is entitled to recover from the beneficiary any amount paid to the beneficiary to the extent allowed by the law governing mistake and restitution. (3) If the funds transfer is completed on the basis of a payment order described in clause (ii) of subsection (a), the sender is not obliged to pay the order to the extent the amount received by the beneficiary is greater than the amount intended by the sender. In that case, the receiving bank is entitled to recover from the beneficiary the excess amount received to the extent allowed by the law governing mistake and restitution. (b) If (i) the sender of an erroneous payment order described in subsection (a) is not obliged to pay all or part of the order, and (ii) the sender receives notification from the receiving bank that the order was accepted by the bank or that the sender's account was debited with respect to the order, the sender has a duty to exercise ordinary care, on the basis of information available to the sender, to discover the error with respect to the order and to advise the bank of the relevant facts within a reasonable time, not exceeding 90 days, after the bank's notification was received by the sender. If the bank proves that the sender failed to perform that duty, the sender is liable to the bank for the loss the bank proves it incurred as a result of the failure, but the liability of the sender may not exceed the amount of the sender's order. (c) This section applies to amendments to payment orders to the same extent it applies to payment orders. Section 4A-206. Transmission of Payment Order Through Funds-Transfer or Other Communication System (a) If a payment order addressed to a receiving bank is transmitted to a funds-transfer system or other third-party communication system for transmittal to the bank, the system is deemed to be an agent of the sender for the purpose of transmitting the payment order to the bank. If there is a discrepancy between the terms of the payment order transmitted to the system and the terms of the payment order transmitted by the system to the bank, the terms of the payment order of the sender are those transmitted by the system. This section does not apply to a funds-transfer system of the Federal Reserve Banks. (b) This section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders. Section 4A-207. Misdescription of Beneficiary (a) Subject to subsection (b), if, in a payment order received by the beneficiary's bank, the name, bank account number, or other identification of the beneficiary refers to a nonexistent or unidentifiable person or account, no person has rights as a beneficiary of the order and acceptance of the order cannot occur. (b) If a payment order received by the beneficiary's bank identifies the beneficiary both by name and by an identifying or bank account number and the name and number identify different persons, the following rules apply: (1) Except as otherwise provided in subsection (c), if the beneficiary's bank does not [[Page 305]] know that the name and number refer to different persons, it may rely on the number as the proper identification of the beneficiary of the order. The beneficiary's bank need not determine whether the name and number refer to the same person. (2) If the beneficiary's bank pays the person identified by name or knows that the name and number identify different persons, no person has rights as beneficiary except the person paid by the beneficiary's bank if that person was entitled to receive payment from the originator of the funds transfer. If no person has rights as beneficiary, acceptance of the order cannot occur. (c) If (i) a payment order described in subsection (b) is accepted, (ii) the originator's payment order described the beneficiary inconsistently by name and number, and (iii) the beneficiary's bank pays the person identified by number as permitted by subsection (b)(1), the following rules apply: (1) If the originator is a bank, the originator is obliged to pay its order. (2) If the originator is not a bank and proves that the person identified by number was not entitled to receive payment from the originator, the originator is not obliged to pay its order unless the originator's bank proves that the originator, before acceptance of the originator's order, had notice that payment of a payment order issued by the originator might be made by the beneficiary's bank on the basis of an identifying or bank account number even if it identifies a person different from the named beneficiary. Proof of notice may be made by any admissible evidence. The originator's bank satisfies the burden of proof if it proves that the originator, before the payment order was accepted, signed a writing stating the information to which the notice relates. (d) In a case governed by subsection (b)(1), if the beneficiary's bank rightfully pays the person identified by number and that person was not entitled to receive payment from the originator, the amount paid may be recovered from that person to the extent allowed by the law governing mistake and restitution as follows: (1) If the originator is obliged to pay its payment order as stated in subsection (c), the originator has the right to recover. (2) If the originator is not a bank and is not obliged to pay its payment order, the originator's bank has the right to recover. Section 4A-208. Misdescription of Intermediary Bank or Beneficiary's Bank (a) This subsection applies to a payment order identifying an intermediary bank or the beneficiary's bank only by an identifying number. (1) The receiving bank may rely on the number as the proper identification of the intermediary or beneficiary's bank and need not determine whether the number identifies a bank. (2) The sender is obliged to compensate the receiving bank for any loss and expenses incurred by the receiving bank as a result of its reliance on the number in executing or attempting to execute the order. (b) This subsection applies to a payment order identifying an intermediary bank or the beneficiary's bank both by name and an identifying number if the name and number identify different persons. (1) If the sender is a bank, the receiving bank may rely on the number as the proper identification of the intermediary or beneficiary's bank if the receiving bank, when it executes the sender's order, does not know that the name and number identify different persons. The receiving bank need not determine whether the name and number refer to the same person or whether the number refers to a bank. The sender is obliged to compensate the receiving bank for any loss and expenses incurred by the receiving bank as a result of its reliance on the number in executing or attempting to execute the order. (2) If the sender is not a bank and the receiving bank proves that the sender, before the payment order was accepted, had notice that the receiving bank might rely on the number as the proper identification of the intermediary or beneficiary's bank even if it identifies a person different from the bank identified by name, the rights and obligations of the sender and the receiving bank are governed by subsection (b)(1), as though the sender were a bank. Proof of notice may be made by any admissible evidence. The receiving bank satisfies the burden of proof if it proves that the sender, before the payment order was accepted, signed a writing stating the information to which the notice relates. (3) Regardless of whether the sender is a bank, the receiving bank may rely on the name as the proper identification of the intermediary or beneficiary's bank if the receiving bank, at the time it executes the sender's order, does not know that the name and number identify different persons. The receiving bank need not determine whether the name and number refer to the same person. (4) If the receiving bank knows that the name and number identify different persons, reliance on either the name or the number in executing the sender's payment order is a breach of the obligation stated in section 4A-302(a)(1). Section 4A-209. Acceptance of Payment Order (a) Subject to subsection (d), a receiving bank other than the beneficiary's bank accepts a payment order when it executes the order. [[Page 306]] (b) Subject to subsections (c) and (d), a beneficiary's bank accepts a payment order at the earliest of the following times: (1) When the bank (i) pays the beneficiary as stated in section 4A- 405(a) or 4A-405(b), or (ii) notifies the beneficiary of receipt of the order or that the account of the beneficiary has been credited with respect to the order unless the notice indicates that the bank is rejecting the order or that funds with respect to the order may not be withdrawn or used until receipt of payment from the sender of the order; (2) When the bank receives payment of the entire amount of the sender's order pursuant to section 4A-403(a)(1) or (2); or (3) The opening of the next funds-transfer business day of the bank following the payment date of the order if, at that time, the amount of the sender's order is fully covered by a withdrawable credit balance in an authorized account of the sender or the bank has otherwise received full payment from the sender, unless the order was rejected before that time or is rejected within (i) one hour after that time, or (ii) one hour after the opening of the next business day of the sender following the payment date if that time is later. If notice of rejection is received by the sender after the payment date and the authorized account of the sender does not bear interest, the bank is obliged to pay interest to the sender on the amount of the order for the number of days elapsing after the payment date to the day the sender receives notice or learns that the order was not accepted, counting that day as an elapsed day. If the withdrawable credit balance during that period falls below the amount of the order, the amount of interest payable is reduced accordingly. (c) Acceptance of a payment order cannot occur before the order is received by the receiving bank. Acceptance does not occur under subsection (b)(2) or (3) if the beneficiary of the payment order does not have an account with the receiving bank, the account has been closed, or the receiving bank is not permitted by law to receive credits for the beneficiary's account. (d) A payment order issued to the originator's bank cannot be accepted until the payment date if the bank is the beneficiary's bank, or the execution date if the bank is not the beneficiary's bank. If the originator's bank executes the originator's payment order before the execution date or pays the beneficiary of the originator's payment order before the payment date and the payment order is subsequently canceled pursuant to section 4A-211(b), the bank may recover from the beneficiary any payment received to the extent allowed by the law governing mistake and restitution. Section 4A-210. Rejection of Payment Order (a) A payment order is rejected by the receiving bank by a notice of rejection transmitted to the sender orally, electronically, or in writing. A notice of rejection need not use any particular words and is sufficient if it indicates that the receiving bank is rejecting the order or will not execute or pay the order. Rejection is effective when the notice is given if transmission is by a means that is reasonable in the circumstances. If notice of rejection is given by a means that is not reasonable, rejection is effective when the notice is received. If an agreement of the sender and receiving bank establishes the means to be used to reject a payment order, (i) any means complying with the agreement is reasonable, and (ii) any means not complying is not reasonable unless no significant delay in receipt of the notice resulted from the use of the noncomplying means. (b) This subsection applies if a receiving bank other than the beneficiary's bank fails to execute a payment order despite the existence on the execution date of a withdrawable credit balance in an authorized account of the sender sufficient to cover the order. If the sender does not receive notice of rejection of the order on the execution date and the authorized account of the sender does not bear interest, the bank is obliged to pay interest to the sender on the amount of the order for the number of days elapsing after the execution date to the earlier of the day the order is canceled pursuant to section 4A-211(d) or the day the sender receives notice or learns that the order was not executed, counting the final day of the period as an elapsed day. If the withdrawable credit balance during that period falls below the amount of the order, the amount of interest is reduced accordingly. (c) If a receiving bank suspends payments, all unaccepted payment orders issued to it are deemed rejected at the time the bank suspends payments. (d) Acceptance of a payment order precludes a later rejection of the order. Rejection of a payment order precludes a later acceptance of the order. Section 4A-211. Cancellation and Amendment of Payment Order (a) A communication of the sender of a payment order canceling or amending the order may be transmitted to the receiving bank orally, electronically, or in writing. If a security procedure is in effect between the sender and the receiving bank, the communication is not effective to cancel or amend the order unless the communication is verified pursuant to the security procedure or the bank agrees to the cancellation or amendment. (b) Subject to subsection (a), a communication by the sender canceling or amending a [[Page 307]] payment order is effective to cancel or amend the order if notice of the communication is received at a time and in a manner affording the receiving bank a reasonable opportunity to act on the communication before the bank accepts the payment order. (c) After a payment order has been accepted, cancellation or amendment of the order is not effective unless the receiving bank agrees or a funds-transfer system rule allows cancellation or amendment without agreement of the bank. (1) With respect to a payment order accepted by a receiving bank other than the beneficiary's bank, cancellation or amendment is not effective unless a conforming cancellation or amendment of the payment order issued by the receiving bank is also made. (2) With respect to a payment order accepted by the beneficiary's bank, cancellation or amendment is not effective unless the order was issued in execution of an unauthorized payment order, or because of a mistake by a sender in the funds transfer which resulted in the issuance of a payment order (i) that is a duplicate of a payment order previously issued by the sender, (ii) that orders payment to a beneficiary not entitled to receive payment from the originator, or (iii) that orders payment in an amount greater than the amount the beneficiary was entitled to receive from the originator. If the payment order is canceled or amended, the beneficiary's bank is entitled to recover from the beneficiary any amount paid to the beneficiary to the extent allowed by the law governing mistake and restitution. (d) An unaccepted payment order is canceled by operation of law at the close of the fifth funds-transfer business day of the receiving bank after the execution date or payment date of the order. (e) A canceled payment order cannot be accepted. If an accepted payment order is canceled, the acceptance is nullified and no person has any right or obligation based on the acceptance. Amendment of a payment order is deemed to be cancellation of the original order at the time of amendment and issue of a new payment order in the amended form at the same time. (f) Unless otherwise provided in an agreement of the parties or in a funds-transfer system rule, if the receiving bank, after accepting a payment order, agrees to cancellation or amendment of the order by the sender or is bound by a funds-transfer system rule allowing cancellation or amendment without the bank's agreement, the sender, whether or not cancellation or amendment is effective, is liable to the bank for any loss and expenses, including reasonable attorney's fees, incurred by the bank as a result of the cancellation or amendment or attempted cancellation or amendment. (g) A payment order is not revoked by the death or legal incapacity of the sender unless the receiving bank knows of the death or of an adjudication of incapacity by a court of competent jurisdiction and has reasonable opportunity to act before acceptance of the order. (h) A funds-transfer system rule is not effective to the extent it conflicts with subsection (c)(2) of this section. Section 4A-212. Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or in this Article, but does not otherwise have any duty to accept a payment order or, before acceptance, to take any action, or refrain from taking action, with respect to the order except as provided in this Article or by express agreement. Liability based on acceptance arises only when acceptance occurs as stated in section 4A-209, and liability is limited to that provided in this Article. A receiving bank is not the agent of the sender or beneficiary of the payment order it accepts, or of any other party to the funds transfer, and the bank owes no duty to any party to the funds transfer except as provided in this Article or by express agreement. Part 3--Execution of Sender's Payment Order by Receiving Bank Section 4A-301. Execution and Execution Date (a) A payment order is ``executed'' by the receiving bank when it issues a payment order intended to carry out the payment order received by the bank. A payment order received by the beneficiary's bank can be accepted but cannot be executed. (b) Execution date of a payment order means the day on which the receiving bank may properly issue a payment order in execution of the sender's order. The execution date may be determined by instruction of the sender but cannot be earlier than the day the order is received and, unless otherwise determined, is the day the order is received. If the sender's instruction states a payment date, the execution date is the payment date or an earlier date on which execution is reasonably necessary to allow payment to the beneficiary on the payment date. Section 4A-302. Obligations of Receiving Bank in Execution of Payment Order (a) Except as provided in subsections (b) through (d), if the receiving bank accepts a payment order pursuant to section 4A-209(a), the bank has the following obligations in executing the order: [[Page 308]] (1) The receiving bank is obliged to issue, on the execution date, a payment order complying with the sender's order and to follow the sender's instructions concerning (i) any intermediary bank or funds- transfer system to be used in carrying out the funds transfer, or (ii) the means by which payment orders are to be transmitted in the funds transfer. If the originator's bank issues a payment order to an intermediary bank, the originator's bank is obliged to instruct the intermediary bank according to the instruction of the originator. An intermediary bank in the funds transfer is similarly bound by an instruction given to it by the sender of the payment order it accepts. (2) If the sender's instruction states that the funds transfer is to be carried out telephonically or by wire transfer or otherwise indicates that the funds transfer is to be carried out by the most expeditious means, the receiving bank is obliged to transmit its payment order by the most expeditious available means, and to instruct any intermediary bank accordingly. If a sender's instruction states a payment date, the receiving bank is obliged to transmit its payment order at a time and by means reasonably necessary to allow payment to the beneficiary on the payment date or as soon thereafter as is feasible. (b) Unless otherwise instructed, a receiving bank executing a payment order may (i) use any funds-transfer system if use of that system is reasonable in the circumstances, and (ii) issue a payment order to the beneficiary's bank or to an intermediary bank through which a payment order conforming to the sender's order can expeditiously be issued to the beneficiary's bank if the receiving bank exercises ordinary care in the selection of the intermediary bank. A receiving bank is not required to follow an instruction of the sender designating a funds-transfer system to be used in carrying out the funds transfer if the receiving bank, in good faith, determines that it is not feasible to follow the instruction or that following the instruction would unduly delay completion of the funds transfer. (c) Unless subsection (a)(2) applies or the receiving bank is otherwise instructed, the bank may execute a payment order by transmitting its payment order by first class mail or by any means reasonable in the circumstances. If the receiving bank is instructed to execute the sender's order by transmitting its payment order by the means stated or by any means as expeditious as the means stated. (d) Unless instructed by the sender, (i) the receiving bank may not obtain payment of its charges for services and expenses in connection with the execution of the sender's order by issuing a payment order in an amount equal to the amount of the sender's order less the amount of the charges, and (ii) may not instruct a subsequent receiving bank to obtain payment of its charges in the same manner. Section 4A-303. Erroneous Execution of Payment Order (a) A receiving bank that (i) executes the payment order of the sender by issuing a payment order in an amount greater than the amount of the sender's order, or (ii) issues a payment order in execution of the sender's order and then issues a duplicate order, is entitled to payment of the amount of the sender's order under section 4A-402(c) if that subsection is otherwise satisfied. The bank is entitled to recover from the beneficiary of the erroneous order the excess payment received to the extent allowed by the law governing mistake and restitution. (b) A receiving bank that executes the payment order of the sender by issuing a payment order in an amount less than the amount of the sender's order is entitled to payment of the amount of the sender's order under section 4A-402(c) if (i) that subsection is otherwise satisfied and (ii) the bank corrects its mistake by issuing an additional payment order for the benefit of the beneficiary of the sender's order. If the error is not corrected, the issuer of the erroneous order is entitled to receive or retain payment from the sender of the order it accepted only to the extent of the amount of the erroneous order. This subsection does not apply if the receiving bank executes the sender's payment order by issuing a payment order in an amount less than the amount of the sender's order for the purpose of obtaining payment of its charges for services and expenses pursuant to instruction of the sender. (c) If a receiving bank executes the payment order of the sender by issuing a payment order to a beneficiary different from the beneficiary of the sender's order and the funds transfer is completed on the basis of that error, the sender of the payment order that was erroneously executed and all previous senders in the funds transfer are not obliged to pay the payment orders they issued. The issuer of the erroneous order is entitled to recover from the beneficiary of the order the payment received to the extent allowed by the law governing mistake and restitution. Section 4A-304. Duty of Sender To Report Erroneously Executed Payment Order If the sender of a payment order that is erroneously executed as stated in section 4A-303 receives notification from the receiving bank that the order was executed or that the sender's account was debited with respect to the order, the sender has a duty to exercise ordinary care to determine, on the basis of information available to the sender, that the [[Page 309]] order was erroneously executed and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the notification from the bank was received by the sender. If the sender fails to perform that duty, the bank is not obliged to pay interest on any amount refundable to the sender under section 4A-402(d) for the period before the bank learns of the execution error. The bank is not entitled to any recovery from the sender on account of a failure by the sender to perform the duty stated in this section. Section 4A-305. Liability for Late or Improper Execution or Failure To Execute Payment Order (a) If a funds transfer is completed but execution of a payment order by the receiving bank in breach of section 4A-302 results in delay in payment to the beneficiary, the bank is obliged to pay interest to either the originator or the beneficiary of the funds transfer for the period of delay caused by the improper execution. Except as provided in subsection (c), additional damages are not recoverable. (b) If execution of a payment order by a receiving bank in breach of section 4A-302 results in (i) noncompletion of the funds transfer, (ii) failure to use an intermediary bank designated by the originator, or (iii) issuance of a payment order that does not comply with the terms of the payment order of the originator, the bank is liable to the originator for its expenses in the funds transfer and for incidental expenses and interest losses, to the extent not covered by subsection (a), resulting from the improper execution. Except as provided in subsection (c), additional damages are not recoverable. (c) In addition to the amounts payable under subsections (a) and (b), damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank. (d) If a receiving bank fails to execute a payment order it was obliged by express agreement to execute, the receiving bank is liable to the sender for its expenses in the transaction and for incidential expenses and interest losses resulting from the failure to execute. Additional damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank, but are not otherwise recoverable. (e) Reasonable attorney's fees are recoverable if demand for compensation under subsection (a) or (b) of this section is made and refused before an action is brought on the claim. If a claim is made for breach of an agreement under subsection (d) and the agreement does not provide for damages, reasonable attorney's fees are recoverable if demand for compensation under subsection (d) is made and refused before an action is brought on the claim. (f) Except as stated in this section, the liability of a receiving bank under subsections (a) and (b) of this section may not be varied by agreement. Part 4--Payment Section 4A-401. Payment Date Payment date of a payment order means the day on which the amount of the order is payable to the beneficiary by the beneficiary's bank. The payment date may be determined by instruction of the sender but cannot be earlier than the day the order is received by the beneficiary's bank and, unless otherwise determined, is the day the order is received by the beneficiary's bank. Section 4A-402. Obligation of Sender To Pay Receiving Bank (a) This section is subject to sections 4A-205 and 4A-207. (b) With respect to a payment order issued to the beneficiary's bank, acceptance of the order by the bank obliges the sender to pay the bank the amount of the order, but payment is not due until the payment date of the order. (c) This subsection is subject to subsection (e) and to section 4A- 303. With respect to a payment order issued to a receiving bank other than the beneficiary's bank, acceptance of the order by the receiving bank obliges the sender to pay the bank the amount of the sender's order. Payment by the sender is not due until the execution date of the sender's order. The obligation of that sender to pay its payment order is excused if the funds transfer is not completed by acceptance by the beneficiary's bank of a payment order instructing payment to the beneficiary of that sender's payment order. (d) If the sender of a payment order pays the order and was not obliged to pay all or part of the amount paid, the bank receiving payment is obliged to refund payment to the extent the sender was not obliged to pay. Except as provided in sections 4A-204 and 4A-304, interest is payable on the refundable amount from the date of payment. (e) If a funds transfer is not completed as stated in subsection (c) and an intermediary bank is obliged to refund payment as stated in subsection (d) but is unable to do so because not permitted by applicable law or because the bank suspends payments, a sender in the funds transfer that executed a payment order in compliance with an instruction, as stated in section 4A-302(a)(1), to route the funds transfer through that intermediary bank is entitled to receive or retain payment from the sender of the payment order that it accepted. The first sender in the funds transfer that issued an instruction requiring routing through that intermediary [[Page 310]] bank is subrogated to the right of the bank that paid the intermediary bank to refund as stated in subsection (d) of this section. (f) The right of the sender of a payment order to be excused from the obligation to pay the order as stated in this subsection (c) or to receive refund under subsection (d) may not be varied by agreement. Section 4A-403. Payment by Sender to Receiving Bank (a) Payment of the sender's obligation under section 4A-402 to pay the receiving bank occurs as follows: (1) If the sender is a bank, payment occurs when the receiving bank receives final settlement of the obligation through a Federal Reserve Bank or through a funds-transfer system. (2) If the sender is a bank and the sender (i) credited an account of the receiving bank with the sender, or (ii) caused an account of the receiving bank in another bank to be credited, payment occurs when the credit is withdrawn or, if not withdrawn, at midnight of the day on which the credit is withdrawable and the receiving bank learns of that fact. (3) If the receiving bank debits an account of the sender with the receiving bank, payment occurs when the debit is made to the extent the debit is covered by a withdrawable credit balance in the account. (b) If the sender and receiving bank are members of a funds-transfer system that nets obligations multilaterally among participants, the receiving bank receives final settlement when settlement is complete in accordance with the rules of the system. The obligation of the sender to pay the amount of a payment order transmitted through the funds-transfer system may be satisfied, to the extent permitted by the rules of the system, by setting off and applying against the sender's obligation the right of the sender to receive payment from the receiving bank of the amount of any other payment order transmitted to the sender by the receiving bank through the funds-transfer system. The aggregate balance of obligations owed by each sender to each receiving bank in the funds- transfer system may be satisfied, to the extent permitted by the rules of the system, by setting off and applying against that balance the aggregate balance of obligations owed to the sender by other members of the system. The aggregate balance is determined after the right of setoff stated in the second sentence of this subsection has been exercised. (c) If two banks transmit payment orders to each other under an agreement that settlement of the obligations of each bank to the other under section 4A-402 will be made at the end of the day or other period, the total amount owed with respect to all orders transmitted by one bank shall be set off against the total amount owed with respect to all orders transmitted by the other bank. To the extent of the setoff, each bank has made payment to the other. (d) In a case not covered by paragraph (a) of this section, the time when payment of the sender's obligation under section 4A-402(b) or 4A- 402(c) occurs is governed by applicable principles of law that determine when an obligation is satisfied. Section 4A-404. Obligation of Beneficiary's Bank to Pay and Give Notice to Beneficiary (a) Subject to sections 4A-211(e), 4A-405(d), and 4A-405(e), if a beneficiary's bank accepts a payment order, the bank is obliged to pay the amount of the order to the beneficiary of the order. Payment is due on the payment date of the order, but if acceptance occurs on the payment date after the close of the funds-transfer business day of the bank, payment is due on the next funds-transfer business day. If the bank refuses to pay after demand by the beneficiary and receipt of notice of particular circumstances that will give rise to consequential damages as a result of nonpayment, the beneficiary may recover damages resulting from the refusal to pay to the extent the bank had notice of the damages, unless the bank proves that it did not pay because of a reasonable doubt concerning the right of the beneficiary to payment. (b) If a payment order accepted by the beneficiary's bank instructs payment to an account of the beneficiary, the bank is obliged to notify the beneficiary of receipt of the order before midnight of the next funds-transfer business day following the payment date. If the payment order does not instruct payment to an account of the beneficiary, the bank is required to notify the beneficiary only if notice is required by the order. Notice may be given by first class mail or any other means reasonable in the circumstances. If the bank fails to give the required notice, the bank is obliged to pay interest to the beneficiary on the amount of the payment order from the day notice should have been given until the day the beneficiary learned of receipt of the payment order by the bank. No other damages are recoverable. Reasonable attorney's fees are also recoverable if demand for interest is made and refused before an action is brought on the claim. (c) The right of a beneficiary to receive payment and damages as stated in subsection (a) may not be varied by agreement or a funds- transfer system rule. The right of a beneficiary to be notified as stated in subsection (b) of this section may be varied by agreement of the beneficiary or by a funds-transfer system rule if the beneficiary is notified of the rule before initiation of the funds transfer. [[Page 311]] Section 4A-405. Payment by Beneficiary's Bank To Beneficiary (a) If the beneficiary's bank credits an account of the beneficiary of a payment order, payment of the bank's obligation under section 4A- 404(a) occurs when and to the extent (i) the beneficiary is notified of the right to withdraw the credit, (ii) the bank lawfully applies the credit to a debt of the beneficiary, or (iii) funds with respect to the order are otherwise made available to the beneficiary by the bank. (b) If the beneficiary's bank does not credit an account of the beneficiary of a payment order, the time when payment of the bank's obligation under section 4A-404(a) occurs is governed by principles of law that determine when an obligation is satisfied. (c) Except as stated in paragraphs (d) and (e) of this section, if the beneficiary's bank pays the beneficiary of a payment order under a condition to payment or agreement of the beneficiary giving the bank the right to recover payment from the beneficiary if the bank does not receive payment of the order, the condition to payment or agreement is not enforceable. (d) A funds-transfer system rule may provide that payments made to beneficiaries of funds transfer made through the system are provisional until receipt of payment by the beneficiary's bank of the payment order it accepted. A beneficiary's bank that makes a payment that is provisional under the rule is entitled to refund from the beneficiary if (i) the rule requires that both the beneficiary and the originator be given notice of the provisional nature of the payment before the funds transfer is initiated, (ii) the beneficiary, the beneficiary's bank and the originator's bank agreed to be bound by the rule, and (iii) the beneficiary's bank did not receive payment of the payment order that it accepted. If the beneficiary is obliged to refund payment to the beneficiary's bank, acceptance of the payment order by the beneficiary's bank is nullified and no payment by the originator of the funds transfer to the beneficiary occurs under section 4A-406. (e) This paragraph applies to a funds transfer that includes a payment order transmitted over a funds-transfer system that (i) nets obligations-multilaterally among participants, and (ii) has in effect a loss-sharing agreement among participants for the purpose of providing funds necessary to complete settlement of the obligations of one or more participants that do not meet their settlement obligations. If the beneficiary's bank in the funds transfer accepts a payment order and the system fails to complete settlement pursuant to its rules with respect to any payment order in the funds transfer, (i) the acceptance by the beneficiary's bank is nullified and no person has any right or obligation based on the acceptance, (ii) the beneficiary's bank is entitled to recover payment from the beneficiary, (iii) no payment by the originator to the beneficiary occurs under section 4A-406, and (iv) subject to section 4A-402(e), each sender in the funds transfer is excused from its obligation to pay its payment order under section 4A- 402(c) because the funds transfer has not been completed. Section 4A-406. Payment by Originator to Beneficiary; Discharge of Underlying Obligation (a) Subject to sections 4A-211(e), 4A-405(d), and 4A-405(e), the originator of a funds transfer pays the beneficiary of the originator's payment order (i) at the time a payment order for the benefit of the beneficiary is accepted by the beneficiary's bank in the funds transfer and (ii) in an amount equal to the amount of the order *40813 accepted by the beneficiary's bank, but not more than the amount of the originator's order. (b) If payment under paragraph (a) of this section is made to satisfy an obligation, the obligation is discharged to the same extent discharge would result from payment to the beneficiary of the same amount in money, unless (i) the payment under subsection (a) was made by a means prohibited by the contract of the beneficiary with respect to the obligation; (ii) the beneficiary, within a reasonable time after receiving notice of receipt of the order by the beneficiary's bank, notified the originator of the beneficiary's refusal of the payment; (iii) funds with respect to the order were not withdrawn by the beneficiary or applied to a debt of the beneficiary; and (iv) the beneficiary would suffer a loss that could reasonably have been avoided if payment had been made by a means complying with the contract. If payment by the originator does not result in discharge under this section, the originator is subrogated to the rights of the beneficiary to receive payment from the beneficiary's bank under section 4A-404(a). (c) For the purpose of determining whether discharge of an obligation occurs under paragraph (b) of this section, if the beneficiary's bank accepts a payment order in an amount equal to the amount of the originator's payment order less charges of one or more receiving banks in the funds transfer, payment to the beneficiary is deemed to be in the amount of the originator's order unless upon demand by the beneficiary the originator does not pay the beneficiary the amount of the deducted charges. (d) Rights of the originator or of the beneficiary of a funds transfer under this section may be varied only by agreement of the originator and the beneficiary. [[Page 312]] Part 5--Miscellaneous Provisions Section 4A-501. Variation by Agreement and Effect of Funds-Transfer System Rule (a) Except as otherwise provided in this Article, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party. (b) Funds-transfer system rule means a rule of an association of banks (i) governing transmission of payment orders by means of a funds- transfer system of the association or rights and obligations with respect to those orders, or (ii) to the extent the rule governs rights and obligations between banks that are parties to a funds transfer in which a Federal Reserve Bank, acting as an intermediary bank, sends a payment order to the beneficiary's bank. Except as otherwise provided in this Article, a funds-transfer system rule governing rights and obligations between participating banks using the system may be effective even if the rule conflicts with this Article and indirectly affects another party to the funds transfer who does not consent to the rule. A funds-transfer system rule may also govern rights and obligations of parties other than participating banks using the system to the extent stated in sections 4A-404(c), 4A-405(d), and 4A-507(c). Section 4A-502. Creditor Process Served on Receiving Bank; Setoff by Beneficiary's Bank (a) As used in this section, creditor process means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant with respect to an account. (b) This subsection applies to creditor process with respect to an authorized account of the sender of a payment order if the creditor process is served on the receiving bank. For the purpose of determining rights with respect to the creditor process, if the receiving bank accepts the payment order the balance in the authorized account is deemed to be reduced by the amount of the payment order to the extent the bank did not otherwise receive payment of the order, unless the creditor process is served at a time and in a manner affording the bank a reasonable opportunity to act on it before the bank accepts the payment order. (c) If a beneficiary's bank has received a payment order for payment to the beneficiary's account in the bank, the following rules apply: (1) The bank may credit the beneficiary's account. The amount credited may be set off against an obligation owed by the beneficiary to the bank or may be applied to satisfy creditor process served on the bank with respect to the account. (2) The bank may credit the beneficiary's account and allow withdrawal of the amount credited unless creditor process with respect to the account is served at a time and in a manner affording the bank a reasonable opportunity to act to prevent withdrawal. (3) If creditor process with respect to the beneficiary's account has been served and the bank has had a reasonable opportunity to act on it, the bank may not reject the payment order except for a reason unrelated to the service of process. (d) Creditor process with respect to a payment by the originator to the beneficiary pursuant to a funds transfer may be served only on the beneficiary's bank with respect to the debt owned by that bank to the beneficiary. Any other bank served with the creditor process is not obliged to act with respect to the process. Section 4A-503. Injunction or Restraining Order With Respect to Funds Transfer For proper cause and in compliance with applicable law, a court may restrain: (i) a person from issuing a payment order to initiate a funds transfer, (ii) an originator's bank from executing the payment order of the originator, or (iii) the beneficiary's bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds. A court may not otherwise restrain a person from issuing a payment order, paying or receiving payment of a payment order, or otherwise acting with respect to a funds transfer. Section 4A-504. Order In Which Items and Payment Orders May Be Charged to Account; Order of Withdrawals from Account (a) If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender's account, the bank may charge the sender's account with respect to the various orders and items in any sequence. (b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied. Section 4A-505. Preclusion of Objection to Debit of Customer's Account If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank, and the customer received notification reasonably identifying the order, the customer is precluded from asserting that the bank is not entitled to retain the payment unless the customer notifies the bank of the customer's objection to the payment within one year [[Page 313]] after the notification was received by the customer. Section 4A-506. Rate of Interest (a) If, under this Article, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may be determined (i) by agreement of the sender and receiving bank, or (ii) by a funds-transfer system rule if the payment order is transmitted through a funds-transfer system. (b) If the amount of interest is not determined by an agreement or rule as stated in subsection (a), the amount is calculated by multiplying the applicable Federal Funds rate by the amount on which interest is payable, and then multiplying the product by the number of days for which interest is payable. The applicable Federal Funds rate is the average of the Federal Funds rates published by the Federal Reserve Bank of New York for each of the days for which interest is payable divided by 360. The Federal Funds rate for any day on which a published rate is not available is the same as the published rate for the next preceding day for which there is a published rate. If a receiving bank that accepted a payment order is required to refund payment to the sender of the order because the funds transfer was not completed, but the failure to complete was not due to any fault by the bank, the interest payable is reduced by a percentage equal to the reserve requirement on deposits of the receiving bank. Section 4A-507. Choice of Law (a) The following rules apply unless the affected parties otherwise agree or paragraph (c) of this section applies: (1) The rights and obligations between the sender of a payment order and the receiving bank are governed by the law of the jurisdiction in which the receiving bank is located. (2) The rights and obligations between the beneficiary's bank and the beneficiary are governed by the law of the jurisdiction in which the beneficiary's bank is located. (3) The issue of when payment is made pursuant to a funds transfer by the originator to the beneficiary is governed by the law of the jurisdiction in which the beneficiary's bank is located. (b) If the parties described in each subsection of paragraph (a) of this section have made an agreement selecting the law of a particular jurisdiction to govern rights and obligations between each other, the law of that jurisdiction governs those rights and obligations, whether or not the payment order or the funds transfer bears a reasonable relation to that jurisdiction. (c) A funds-transfer system rule may select the law of a particular jurisdiction to govern (i) rights and obligations between participating banks with respect to payment orders transmitted or processed through the system, or (ii) the rights and obligations of some or all parties to a funds transfer any part of which is carried out by means of the system. A choice of law made pursuant to clause (i) is binding on participating banks. A choice of law made pursuant to clause (ii) is binding on the originator, other sender, or a receiving bank having notice that the funds-transfer system might be used in the funds transfer and of the choice of law by the system when the originator, other sender, or receiving bank issued or accepted a payment order. The beneficiary of a funds transfer is bound by the choice of law if, when the funds transfer is initiated, the beneficiary has notice that the funds-transfer system might be used in the funds transfer and of the choice of law by the system. The law of a jurisdiction selected pursuant to this subsection may govern, whether or not that law bears a reasonable relation to the matter in issue. (d) In the event of inconsistency between an agreement under paragraph (b) of this section and a choice-of-law rule under paragraph (c) of this section, the agreement under paragraph (b) prevails. (e) If a funds transfer is made by use of more than one funds- transfer system and there is inconsistency between choice-of-law rules of the systems, the matter in issue is governed by the law of the selected jurisdiction that has the most significant relationship to the matter in issue. [Reg. J, 87 FR 34369, June 6, 2022] PART 211_INTERNATIONAL BANKING OPERATIONS (REGULATION K)--Table of Contents Subpart A_International Operations of U.S. Banking Organizations Sec. 211.1 Authority, purpose, and scope. 211.2 Definitions. 211.3 Foreign branches of U.S. banking organizations. 211.4 Permissible investments and activities of foreign branches of member banks. 211.5 Edge and agreement corporations. 211.6 Permissible activities of Edge and agreement corporations in the United States. 211.7 Voluntary liquidation of Edge and agreement corporations. 211.8 Investments and activities abroad. 211.9 Investment procedures. 211.10 Permissible activities abroad. 211.11 Advisory opinions under Regulation K. 211.12 Lending limits and capital requirements. 211.13 Supervision and reporting. [[Page 314]] Subpart B_Foreign Banking Organizations 211.20 Authority, purpose, and scope. 211.21 Definitions. 211.22 Interstate banking operations of foreign banking organizations. 211.23 Nonbanking activities of foreign banking organizations. 211.24 Approval of offices of foreign banks; procedures for applications; standards for approval; representative office activities and standards for approval; preservation of existing authority. 211.25 Termination of offices of foreign banks. 211.26 Examination of offices and affiliates of foreign banks. 211.27 Disclosure of supervisory information to foreign supervisors. 211.28 Provisions applicable to branches and agencies: limitation on loans to one borrower. 211.29 Applications by state branches and state agencies to conduct activities not permissible for federal branches. 211.30 Criteria for evaluating the U.S. operations of foreign banks not subject to consolidated supervision. Subpart C_Export Trading Companies 211.31 Authority, purpose, and scope. 211.32 Definitions. 211.33 Investments and extensions of credit. 211.34 Procedures for filing and processing notices. Subpart D_International Lending Supervision 211.41 Authority, purpose, and scope. 211.42 Definitions. 211.43 Allocated transfer risk reserve. 211.44 Reporting and disclosure of international assets. 211.45 Accounting for fees on international loans. Interpretations 211.601 Status of certain offices for purposes of the International Banking Act restrictions on interstate banking operations. 211.602 Investments by United States banking organizations in foreign companies that transact business in the United States. 211.603 Commodity swap transactions. 211.604 Data processing activities. 211.605 Permissible underwriting activities of foreign banks. Authority: 12 U.S.C. 221 et seq., 1818, 1835a, 1841 et seq., 3101 et seq., 3901 et seq., and 5101 et seq.; 15 U.S.C. 1681s, 1681w, 6801 and 6805. Subpart A_International Operations of U.S. Banking Organizations Source: Reg. K, 66 FR 54374, Oct. 26, 2001, unless otherwise noted. Sec. 211.1 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board of Governors of the Federal Reserve System (Board) under the authority of the Federal Reserve Act (FRA) (12 U.S.C. 221 et seq.); the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1841 et seq.); and the International Banking Act of 1978 (IBA) (12 U.S.C. 3101 et seq.). (b) Purpose. This subpart sets out rules governing the international and foreign activities of U.S. banking organizations, including procedures for establishing foreign branches and Edge and agreement corporations to engage in international banking, and for investments in foreign organizations. (c) Scope. This subpart applies to: (1) Member banks with respect to their foreign branches and investments in foreign banks under section 25 of the FRA (12 U.S.C. 601- 604a);\1\ and --------------------------------------------------------------------------- \1\ Section 25 of the FRA (12 U.S.C. 601-604a), which refers to national banking associations, also applies to state member banks of the Federal Reserve System by virtue of section 9 of the FRA (12 U.S.C. 321) --------------------------------------------------------------------------- (2) Corporations organized under section 25A of the FRA (12 U.S.C. 611-631) (Edge corporations); (3) Corporations having an agreement or undertaking with the Board under section 25 of the FRA (12 U.S.C. 601-604a) (agreement corporations); and (4) Bank holding companies with respect to the exemption from the nonbanking prohibitions of the BHC Act afforded by section 4(c)(13) of that act (12 U.S.C. 1843(c)(13)). Sec. 211.2 Definitions. Unless otherwise specified, for purposes of this subpart: (a) An affiliate of an organization means: (1) Any entity of which the organization is a direct or indirect subsidiary; or (2) Any direct or indirect subsidiary of the organization or such entity. [[Page 315]] (b) Capital and surplus means, unless otherwise provided in this part: (1) For organizations subject to the capital rule: (i) Tier 1 and tier 2 capital included in an organization's risk- based capital (under the capital rule); and (ii) The balance of allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, not included in an organization's tier 2 capital for calculation of risk-based capital, based on the organization's most recent consolidated Report of Condition and Income. (iii) For qualifying community banking organizations (as defined in Sec. 217.12 of this chapter) that are subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), tier 1 capital (as defined in Sec. 217.2 of this chapter and calculated in accordance with Sec. 217.12(b) of this chapter) plus allowances for loan and lease losses or adjusted allowance for credit losses, as applicable. (2) For all other organizations, paid-in and unimpaired capital and surplus, and includes undivided profits but does not include the proceeds of capital notes or debentures. (c) Capital rule means part 217 of this chapter. (d) Directly or indirectly, when used in reference to activities or investments of an organization, means activities or investments of the organization or of any subsidiary of the organization. (e) Eligible country means any country: (1) For which an allocated transfer risk reserve is required pursuant to Sec. 211.43 of this part and that has restructured its sovereign debt held by foreign creditors; and (2) Any other country that the Board deems to be eligible. (f) An Edge corporation is engaged in banking if it is ordinarily engaged in the business of accepting deposits in the United States from nonaffiliated persons. (g) Engaged in business or engaged in activities in the United States means maintaining and operating an office (other than a representative office) or subsidiary in the United States. (h) Equity means an ownership interest in an organization, whether through: (1) Voting or nonvoting shares; (2) General or limited partnership interests; (3) Any other form of interest conferring ownership rights, including warrants, debt, or any other interests that are convertible into shares or other ownership rights in the organization; or (4) Loans that provide rights to participate in the profits of an organization, unless the investor receives a determination that such loans should not be considered equity in the circumstances of the particular investment. (i) Foreign or foreign country refers to one or more foreign nations, and includes the overseas territories, dependencies, and insular possessions of those nations and of the United States, and the Commonwealth of Puerto Rico. (j) Foreign bank means an organization that: (1) Is organized under the laws of a foreign country; (2) Engages in the business of banking; (3) Is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking operations; (4) Receives deposits to a substantial extent in the regular course of its business; and (5) Has the power to accept demand deposits. (k) Foreign branch means an office of an organization (other than a representative office) that is located outside the country in which the organization is legally established and at which a banking or financing business is conducted. (l) Foreign person means an office or establishment located outside the United States, or an individual residing outside the United States. (m) Investment means: (1) The ownership or control of equity; (2) Binding commitments to acquire equity; (3) Contributions to the capital and surplus of an organization; or [[Page 316]] (4) The holding of an organization's subordinated debt when the investor and the investor's affiliates hold more than 5 percent of the equity of the organization. (n) Investment grade means a security that is rated in one of the four highest rating categories by: (1) Two or more NRSROs; or (2) One NRSRO if the security has been rated by only one NRSRO. (o) Investor means an Edge corporation, agreement corporation, bank holding company, or member bank. (p) Joint venture means an organization that has 20 percent or more of its voting shares held directly or indirectly by the investor or by an affiliate of the investor under any authority, but which is not a subsidiary of the investor or of an affiliate of the investor. (q) Loans and extensions of credit means all direct and indirect advances of funds to a person made on the basis of any obligation of that person to repay the funds. (r) NRSRO means a nationally recognized statistical rating organization as designated by the Securities and Exchange Commission. (s) Organization means a corporation, government, partnership, association, or any other entity. (t) Person means an individual or an organization. (u) Portfolio investment means an investment in an organization other than a subsidiary or joint venture. (v) Representative office means an office that: (1) Engages solely in representational and administrative functions (such as soliciting new business or acting as liaison between the organization's head office and customers in the United States); and (2) Does not have authority to make any business decision (other than decisions relating to its premises or personnel) for the account of the organization it represents, including contracting for any deposit or deposit-like liability on behalf of the organization. (w) Subsidiary means an organization that has more than 50 percent of its voting shares held directly or indirectly, or that otherwise is controlled or capable of being controlled, by the investor or an affiliate of the investor under any authority. Among other circumstances, an investor is considered to control an organization if: (1) The investor or an affiliate is a general partner of the organization; or (2) The investor and its affiliates directly or indirectly own or control more than 50 percent of the equity of the organization. (x) Tier 1 capital has the same meaning as provided in Sec. 217.2 of this chapter. A qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), calculates its tier 1 capital in accordance with Sec. 217.12(b) of this chapter. (y) Well capitalized means: (1) In relation to a parent member or insured bank, that the standards set out in Sec. 208.43(b)(1) of Regulation H (12 CFR 208.43(b)(1)) are satisfied; (2) In relation to a bank holding company, that the standards set out in Sec. 225.2(r)(1) of Regulation Y (12 CFR 225.2(r)(1)) are satisfied; and (3) In relation to an Edge or agreement corporation, that it has tier 1 and total risk-based capital ratios of 6.0 and 10.0 percent, respectively, or greater. (z) Well managed means that the Edge or agreement corporation, any parent insured bank, and the bank holding company either received a composite rating of 1 or 2 or is considered satisfactory under the applicable rating system, and has at least a satisfactory rating for management if such a rating is given, at their most recent examination or review. [Reg. K, 66 FR 54374, Oct. 26, 2001, as amended at 83 FR 58734, Nov. 21, 2018; 84 FR 4241, Feb. 14, 2019; 84 FR 61797, Nov. 13, 2019] Sec. 211.3 Foreign branches of U.S. banking organizations. (a) General--(1) Definition of banking organization. For purposes of this section, a banking organization is defined as a member bank and its affiliates. (2) A banking organization is considered to be operating a branch in a foreign country if it has an affiliate that is a member bank, Edge or agreement [[Page 317]] corporation, or foreign bank that operates an office (other than a representative office) in that country. (3) For purposes of this subpart, a foreign office of an operating subsidiary of a member bank shall be treated as a foreign branch of the member bank and may engage only in activities permissible for a branch of a member bank. (4) At any time upon notice, the Board may modify or suspend branching authority conferred by this section with respect to any banking organization. (b)(1) Establishment of foreign branches. (i) Foreign branches may be established by any member bank having capital and surplus of $1,000,000 or more, an Edge corporation, an agreement corporation, any subsidiary the shares of which are held directly by the member bank, or any other subsidiary held pursuant to this subpart. (ii) The Board grants its general consent under section 25 of the FRA (12 U.S.C. 601-604a) for a member bank to establish a branch in the Commonwealth of Puerto Rico and the overseas territories, dependencies, and insular possessions of the United States. (2) Prior notice. Unless otherwise provided in this section, the establishment of a foreign branch requires 30 days' prior written notice to the Board. (3) Branching into additional foreign countries. After giving the Board 12 business days prior written notice, a banking organization that operates branches in two or more foreign countries may establish a branch in an additional foreign country. (4) Additional branches within a foreign country. No prior notice is required to establish additional branches in any foreign country where the banking organization operates one or more branches. (5) Branching by nonbanking affiliates. No prior notice is required for a nonbanking affiliate of a banking organization (i.e., an organization that is not a member bank, an Edge or agreement corporation, or foreign bank) to establish branches within a foreign country or in additional foreign countries. (6) Expiration of branching authority. Authority to establish branches, when granted following prior written notice to the Board, shall expire one year from the earliest date on which the authority could have been exercised, unless extended by the Board. (c) Reporting. Any banking organization that opens, closes, or relocates a branch shall report such change in a manner prescribed by the Board. (d) Reserves of foreign branches of member banks. Member banks shall maintain reserves against foreign branch deposits when required by Regulation D (12 CFR part 204). (e) Conditional approval; access to information. The Board may impose such conditions on authority granted by it under this section as it deems necessary, and may require termination of any activities conducted under authority of this section if a member bank is unable to provide information on its activities or those of its affiliates that the Board deems necessary to determine and enforce compliance with U.S. banking laws. Sec. 211.4 Permissible activities and investments of foreign branches of member banks. (a) Permissible activities and investments. In addition to its general banking powers, and to the extent consistent with its charter, a foreign branch of a member bank may engage in the following activities and make the following investments, so far as is usual in connection with the business of banking in the country where it transacts business: (1) Guarantees. Guarantee debts, or otherwise agree to make payments on the occurrence of readily ascertainable events (including, but not limited to, nonpayment of taxes, rentals, customs duties, or costs of transport, and loss or nonconformance of shipping documents) if the guarantee or agreement specifies a maximum monetary liability; however, except to the extent that the member bank is fully secured, it may not have liabilities outstanding for any person on account of such guarantees or agreements which, when aggregated with other unsecured obligations of the same person, exceed the limit contained in section 5200(a)(1) of the Revised Statutes (12 U.S.C. 84) for loans and extensions of credit; [[Page 318]] (2) Government obligations. (i) Underwrite, distribute, buy, sell, and hold obligations of: (A) The national government of the country where the branch is located and any political subdivision of that country; (B) An agency or instrumentality of the national government of the country where the branch is located where such obligations are supported by the taxing authority, guarantee, or full faith and credit of that government; (C) The national government or political subdivision of any country, where such obligations are rated investment grade; and (D) An agency or instrumentality of any national government where such obligations are rated investment grade and are supported by the taxing authority, guarantee or full faith and credit of that government. (ii) No member bank, under authority of this paragraph (a)(2), may hold, or be under commitment with respect to, such obligations for its own account in relation to any one country in an amount exceeding the greater of: (A) 10 percent of its tier 1 capital; or (B) 10 percent of the total deposits of the bank's branches in that country on the preceding year-end call report date (or the date of acquisition of the branch, in the case of a branch that has not been so reported); (3) Other investments. (i) Invest in: (A) The securities of the central bank, clearinghouses, governmental entities other than those authorized under paragraph (a)(2) of this section, and government-sponsored development banks of the country where the foreign branch is located; (B) Other debt securities eligible to meet local reserve or similar requirements; and (C) Shares of automated electronic-payments networks, professional societies, schools, and the like necessary to the business of the branch; (ii) The total investments of a bank's branches in a country under this paragraph (a)(3) (exclusive of securities held as required by the law of that country or as authorized under section 5136 of the Revised Statutes (12 U.S.C. 24, Seventh)) may not exceed 1 percent of the total deposits of the bank's branches in that country on the preceding year- end call report date (or on the date of acquisition of the branch, in the case of a branch that has not been so reported); (4) Real estate loans. Take liens or other encumbrances on foreign real estate in connection with its extensions of credit, whether or not of first priority and whether or not the real estate has been improved; (5) Insurance. Act as insurance agent or broker; (6) Employee benefits program. Pay to an employee of the branch, as part of an employee benefits program, a greater rate of interest than that paid to other depositors of the branch; (7) Repurchase agreements. Engage in repurchase agreements involving securities and commodities that are the functional equivalents of extensions of credit; (8) Investment in subsidiaries. With the Board's prior approval, acquire all of the shares of a company (except where local law requires other investors to hold directors' qualifying shares or similar types of instruments) that engages solely in activities: (i) In which the member bank is permitted to engage; or (ii) That are incidental to the activities of the foreign branch. (b) Other activities. With the Board's prior approval, engage in other activities that the Board determines are usual in connection with the transaction of the business of banking in the places where the member bank's branches transact business. Sec. 211.5 Edge and agreement corporations. (a) Board Authority. The Board shall have the authority to approve: (1) The establishment of Edge corporations; (2) Investments in agreement corporations; and (3) A member bank's proposal to invest more than 10 percent of its capital and surplus in the aggregate amount of stock held in all Edge and agreement corporations. (b) Organization of an Edge corporation--(1) Permit. A proposed Edge corporation shall become a body corporate [[Page 319]] when the Board issues a permit approving its proposed name, articles of association, and organization certificate. (2) Name. The name of the Edge corporation shall include international, foreign, overseas, or a similar word, but may not resemble the name of another organization to an extent that might mislead or deceive the public. (3) Federal Register notice. The Board shall publish in the Federal Register notice of any proposal to organize an Edge corporation and shall give interested persons an opportunity to express their views on the proposal. (4) Factors considered by Board. The factors considered by the Board in acting on a proposal to organize an Edge corporation include: (i) The financial condition and history of the applicant; (ii) The general character of its management; (iii) The convenience and needs of the community to be served with respect to international banking and financing services; and (iv) The effects of the proposal on competition. (5) Authority to commence business. After the Board issues a permit, the Edge corporation may elect officers and otherwise complete its organization, invest in obligations of the U.S. government, and maintain deposits with depository institutions, but it may not exercise any other powers until at least 25 percent of the authorized capital stock specified in the articles of association has been paid in cash, and each shareholder has paid in cash at least 25 percent of that shareholder's stock subscription. (6) Expiration of unexercised authority. Unexercised authority to commence business as an Edge corporation shall expire one year after issuance of the permit, unless the Board extends the period. (c) Other provisions regarding Edge corporations--(1) Amendments to articles of association. No amendment to the articles of association shall become effective until approved by the Board. (2) Shareholders' meeting. An Edge corporation shall provide in its bylaws that: (i) A shareholders' meeting shall be convened at the request of the Board within five business days after the Board gives notice of the request to the Edge corporation; (ii) Any shareholder or group of shareholders that owns or controls 25 percent or more of the shares of the Edge corporation shall attend such a meeting in person or by proxy; and (iii) Failure by a shareholder or authorized representative to attend such meeting in person or by proxy may result in removal or barring of the shareholder or representative from further participation in the management or affairs of the Edge corporation. (3) Nature and ownership of shares--(i) Shares. Shares of stock in an Edge corporation may not include no-par-value shares and shall be issued and transferred only on its books and in compliance with section 25A of the FRA (12 U.S.C. 611 et seq.) and this subpart. (ii) Contents of share certificates. The share certificates of an Edge corporation shall: (A) Name and describe each class of shares, indicating its character and any unusual attributes, such as preferred status or lack of voting rights; and (B) Conspicuously set forth the substance of: (1) Any limitations on the rights of ownership and transfer of shares imposed by section 25A of the FRA (12 U.S.C. 611 et seq.); and (2) Any rules that the Edge corporation prescribes in its bylaws to ensure compliance with this paragraph (c). (4) Change in status of shareholder. Any change in status of a shareholder that causes a violation of section 25A of the FRA (12 U.S.C. 611 et seq.) shall be reported to the Board as soon as possible, and the Edge corporation shall take such action as the Board may direct. (d) Ownership of Edge corporations by foreign institutions--(1) Prior Board approval. One or more foreign or foreign-controlled domestic institutions referred to in section 25A(11) of the FRA (12 U.S.C. 619) may apply for the Board's prior approval to acquire, directly or indirectly, a majority of the shares of the capital stock of an Edge corporation. (2) Conditions and requirements. Such an institution shall: [[Page 320]] (i) Provide the Board with information related to its financial condition and activities and such other information as the Board may require; (ii) Ensure that any transaction by an Edge corporation with an affiliate \2\ is on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions by the Edge corporation with nonaffiliated persons, and does not involve more than the normal risk of repayment or present other unfavorable features; --------------------------------------------------------------------------- \2\ For purposes of this paragraph (d)(2), affiliate means any organization that would be an affiliate under section 23A of the FRA (12 U.S.C. 371c) if the Edge corporation were a member bank. --------------------------------------------------------------------------- (iii) Ensure that the Edge corporation will not provide funding on a continual or substantial basis to any affiliate or office of the foreign institution through transactions that would be inconsistent with the international and foreign business purposes for which Edge corporations are organized; and (iv) Comply with the limitation on aggregate investments in all Edge and agreement corporations set forth in paragraph (h) of this section. (3) Foreign institutions not subject to the BHC Act. In the case of a foreign institution not subject to section 4 of the BHC Act (12 U.S.C. 1843), that institution shall: (i) Comply with any conditions that the Board may impose that are necessary to prevent undue concentration of resources, decreased or unfair competition, conflicts of interest, or unsound banking practices in the United States; and (ii) Give the Board 30 days' prior written notice before engaging in any nonbanking activity in the United States, or making any initial or additional investments in another organization, that would require prior Board approval or notice by an organization subject to section 4 of the BHC Act (12 U.S.C. 1843); in connection with such notice, the Board may impose conditions necessary to prevent adverse effects that may result from such activity or investment. (e) Change in control of an Edge corporation--(1) Prior notice. (i) Any person shall give the Board 60 days' prior written notice before acquiring, directly or indirectly, 25 percent or more of the voting shares, or otherwise acquiring control, of an Edge corporation. (ii) The Board may extend the 60-day period for an additional 30 days by notifying the acquiring party. (iii) A notice under this paragraph (e) need not be filed where a change in control is effected through a transaction requiring the Board's approval under section 3 of the BHC Act (12 U.S.C. 1842). (2) Board review. In reviewing a notice filed under this paragraph (e), the Board shall consider the factors set forth in paragraph (b)(4) of this section, and may disapprove a notice or impose any conditions that it finds necessary to assure the safe and sound operation of the Edge corporation, to assure the international character of its operation, and to prevent adverse effects, such as decreased or unfair competition, conflicts of interest, or undue concentration of resources. (f) Domestic branching by Edge corporations--(1) Prior notice. (i) An Edge corporation may establish branches in the United States 30 days after the Edge corporation has given written notice of its intention to do so to its Reserve Bank, unless the Edge corporation is notified to the contrary within that time. (ii) The notice to the Reserve Bank shall include a copy of the notice of the proposal published in a newspaper of general circulation in the communities to be served by the branch. (iii) The newspaper notice may appear no earlier than 90 calendar days prior to submission of notice of the proposal to the Reserve Bank. The newspaper notice shall provide an opportunity for the public to give written comment on the proposal to the appropriate Federal Reserve Bank for at least 30 days after the date of publication. (2) Factors considered. The factors considered in acting upon a proposal to establish a branch are enumerated in paragraph (b)(4) of this section. (3) Expiration of authority. Authority to establish a branch under prior notice shall expire one year from the earliest date on which that authority [[Page 321]] could have been exercised, unless the Board extends the period. (g) Agreement corporations--(1) General. With the prior approval of the Board, a member bank or bank holding company may invest in a federally or state-chartered corporation that has entered into an agreement or undertaking with the Board that it will not exercise any power that is impermissible for an Edge corporation under this subpart. (2) Factors considered by Board. The factors considered in acting upon a proposal to establish an agreement corporation are enumerated in paragraph (b)(4) of this section. (h)(1) Limitation on investment in Edge and agreement corporations. A member bank may invest up to 10 percent of its capital and surplus in the capital stock of Edge and agreement corporations or, with the prior approval of the Board, up to 20 percent of its capital and surplus in such stock. (2) Factors considered by Board. The factors considered by the Board in acting on a proposal under paragraph (h)(1) of this section shall include: (i) The composition of the assets of the bank's Edge and agreement corporations; (ii) The total capital invested by the bank in its Edge and agreement corporations when combined with retained earnings of the Edge and agreement corporations (including amounts invested in and retained earnings of any foreign bank subsidiaries) as a percentage of the bank's capital; (iii) Whether the bank, bank holding company, and Edge and agreement corporations are well-capitalized and well-managed; (iv) Whether the bank is adequately capitalized after deconsolidating and deducting the aggregate investment in and assets of all Edge or agreement corporations and all foreign bank subsidiaries; and (v) Any other factor the Board deems relevant to the safety and soundness of the member bank. (i) Reserve requirements and interest rate limitations. The deposits of an Edge or agreement corporation are subject to Regulations D and Q (12 CFR parts 204 and 217) in the same manner and to the same extent as if the Edge or agreement corporation were a member bank. (j) Liquid funds. Funds of an Edge or agreement corporation that are not currently employed in its international or foreign business, if held or invested in the United States, shall be in the form of: (1) Cash; (2) Deposits with depository institutions, as described in Regulation D (12 CFR part 204), and other Edge and agreement corporations; (3) Money-market instruments (including repurchase agreements with respect to such instruments), such as bankers' acceptances, federal funds sold, and commercial paper; and (4) Short- or long-term obligations of, or fully guaranteed by, federal, state, and local governments and their instrumentalities. (k) Reports by Edge and agreement corporations of crimes and suspected crimes. An Edge or agreement corporation, or any branch or subsidiary thereof, shall file a suspicious-activity report in accordance with the provisions of Sec. 208.62 of Regulation H (12 CFR 208.62). (l) Protection of customer information and consumer information. An Edge or agreement corporation shall comply with the Interagency Guidelines Establishing Information Security Standards prescribed pursuant to sections 501 and 505 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801 and 6805) and, with respect to the proper disposal of consumer information, section 216 of the Fair and Accurate Credit Transactions Act of 2003 (15 U.S.C. 1681w), set forth in appendix D-2 to part 208 of this chapter. (m) Procedures for monitoring Bank Secrecy Act compliance. (1) Establishment of Compliance Program. Each Edge corporation and each agreement corporation shall, in accordance with the provisions of Sec. 208.63 of the Board's Regulation H, 12 CFR 208.63, develop and provide for the continued administration of a program reasonably designed to assure and monitor compliance with the provisions of subchapter II of chapter 53 of title 31, United States Code, the Bank Secrecy Act, and the implementing regulations promulgated thereunder by the Department of the Treasury at 31 CFR part 103. The compliance program shall be [[Page 322]] reduced to writing, approved by the board of directors, and noted in the minutes. (2) Customer identification program. Each Edge or agreement corporation is subject to the requirements of 31 U.S.C. 5318(l) and the implementing regulation jointly promulgated by the Board and the Department of the Treasury at 31 CFR 103.121, which require a customer identification program. [66 FR 54374, Oct. 26, 2001, as amended at 66 FR 58655, Nov. 23, 2001; 68 FR 25112, May 9, 2003; 69 FR 77618, Dec. 28, 2004; 71 FR 13936, Mar. 20, 2006] Sec. 211.6 Permissible activities of Edge and agreement corporations in the United States. (a) Activities incidental to international or foreign business. An Edge or agreement corporation may engage, directly or indirectly, in activities in the United States that are permitted by section 25A(6) of the FRA (12 U.S.C. 615) and are incidental to international or foreign business, and in such other activities as the Board determines are incidental to international or foreign business. The following activities will ordinarily be considered incidental to an Edge or agreement corporation's international or foreign business: (1) Deposit-taking activities--(i) Deposits from foreign governments and foreign persons. An Edge or agreement corporation may receive in the United States transaction accounts, savings, and time deposits (including issuing negotiable certificates of deposits) from foreign governments and their agencies and instrumentalities, and from foreign persons. (ii) Deposits from other persons. An Edge or agreement corporation may receive from any other person in the United States transaction accounts, savings, and time deposits (including issuing negotiable certificates of deposit) if such deposits: (A) Are to be transmitted abroad; (B) Consist of funds to be used for payment of obligations to the Edge or agreement corporation or collateral securing such obligations; (C) Consist of the proceeds of collections abroad that are to be used to pay for exported or imported goods or for other costs of exporting or importing or that are to be periodically transferred to the depositor's account at another financial institution; (D) Consist of the proceeds of extensions of credit by the Edge or agreement corporation; (E) Represent compensation to the Edge or agreement corporation for extensions of credit or services to the customer; (F) Are received from Edge or agreement corporations, foreign banks, and other depository institutions (as described in Regulation D (12 CFR part 204)); or (G) Are received from an organization that by its charter, license, or enabling law is limited to business that is of an international character, including foreign sales corporations, as defined in 26 U.S.C. 922; transportation organizations engaged exclusively in the international transportation of passengers or in the movement of goods, wares, commodities, or merchandise in international or foreign commerce; and export trading companies established under subpart C of this part. (2) Borrowings. An Edge or agreement corporation may: (i) Borrow from offices of other Edge and agreement corporations, foreign banks, and depository institutions (as described in Regulation D (12 CFR part 204)); (ii) Issue obligations to the United States or any of its agencies or instrumentalities; (iii) Incur indebtedness from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States or any agency or instrumentality thereof that the Edge or agreement corporation is obligated to repurchase; and (iv) Issue long-term subordinated debt that does not qualify as a deposit under Regulation D (12 CFR part 204). (3) Credit activities. An Edge or agreement corporation may: (i) Finance the following: (A) Contracts, projects, or activities performed substantially abroad; (B) The importation into or exportation from the United States of goods, whether direct or through brokers or other intermediaries; [[Page 323]] (C) The domestic shipment or temporary storage of goods being imported or exported (or accumulated for export); and (D) The assembly or repackaging of goods imported or to be exported; (ii) Finance the costs of production of goods and services for which export orders have been received or which are identifiable as being directly for export; (iii) Assume or acquire participations in extensions of credit, or acquire obligations arising from transactions the Edge or agreement corporation could have financed, including acquisition of obligations of foreign governments; (iv) Guarantee debts, or otherwise agree to make payments on the occurrence of readily ascertainable events (including, but not limited to, nonpayment of taxes, rentals, customs duties, or cost of transport, and loss or nonconformance of shipping documents), so long as the guarantee or agreement specifies the maximum monetary liability thereunder and is related to a type of transaction described in paragraphs (a)(3)(i) and (ii) of this section; and (v) Provide credit and other banking services for domestic and foreign purposes to foreign governments and their agencies and instrumentalities, foreign persons, and organizations of the type described in paragraph (a)(1)(ii)(G) of this section. (4) Payments and collections. An Edge or agreement corporation may receive checks, bills, drafts, acceptances, notes, bonds, coupons, and other instruments for collection abroad, and collect such instruments in the United States for a customer abroad; and may transmit and receive wire transfers of funds and securities for depositors. (5) Foreign exchange. An Edge or agreement corporation may engage in foreign exchange activities. (6) Fiduciary and investment advisory activities. An Edge or agreement corporation may: (i) Hold securities in safekeeping for, or buy and sell securities upon the order and for the account and risk of, a person, provided such services for U.S. persons are with respect to foreign securities only; (ii) Act as paying agent for securities issued by foreign governments or other entities organized under foreign law; (iii) Act as trustee, registrar, conversion agent, or paying agent with respect to any class of securities issued to finance foreign activities and distributed solely outside the United States; (iv) Make private placements of participations in its investments and extensions of credit; however, except to the extent permissible for member banks under section 5136 of the Revised Statutes (12 U.S.C. 24(Seventh)), no Edge or agreement corporation otherwise may engage in the business of underwriting, distributing, or buying or selling securities in the United States; (v) Act as investment or financial adviser by providing portfolio investment advice and portfolio management with respect to securities, other financial instruments, real-property interests, and other investment assets, \3\ and by providing advice on mergers and acquisitions, provided such services for U.S. persons are with respect to foreign assets only; and --------------------------------------------------------------------------- \3\ For purposes of this section, management of an investment portfolio does not include operational management of real property, or industrial or commercial assets. --------------------------------------------------------------------------- (vi) Provide general economic information and advice, general economic statistical forecasting services, and industry studies, provided such services for U.S. persons shall be with respect to foreign economies and industries only. (7) Banking services for employees. Provide banking services, including deposit services, to the officers and employees of the Edge or agreement corporation and its affiliates; however, extensions of credit to such persons shall be subject to the restrictions of Regulation O (12 CFR part 215) as if the Edge or agreement corporation were a member bank. (b) Other activities. With the Board's prior approval, an Edge or agreement corporation may engage, directly or indirectly, in other activities in the United States that the Board determines are incidental to their international or foreign business. [[Page 324]] Sec. 211.7 Voluntary liquidation of Edge and agreement corporations. (a) Prior notice. An Edge or agreement corporation desiring voluntarily to discontinue normal business and dissolve, shall provide the Board with 45 days' prior written notice of its intent to do so. (b) Waiver of notice period. The Board may waive the 45-day period if it finds that immediate action is required by the circumstances presented. Sec. 211.8 Investments and activities abroad. (a) General policy. Activities abroad, whether conducted directly or indirectly, shall be confined to activities of a banking or financial nature and those that are necessary to carry on such activities. In doing so, investors \4\ shall at all times act in accordance with high standards of banking or financial prudence, having due regard for diversification of risks, suitable liquidity, and adequacy of capital. Subject to these considerations and the other provisions of this section, it is the Board's policy to allow activities abroad to be organized and operated as best meets corporate policies. --------------------------------------------------------------------------- \4\ For purposes of this section and Sec. Sec. 211.9 and 211.10 of this part, a direct subsidiary of a member bank is deemed to be an investor. --------------------------------------------------------------------------- (b) Direct investments by member banks. A member bank's direct investments under section 25 of the FRA (12 U.S.C. 601 et seq.) shall be limited to: (1) Foreign banks; (2) Domestic or foreign organizations formed for the sole purpose of holding shares of a foreign bank; (3) Foreign organizations formed for the sole purpose of performing nominee, fiduciary, or other banking services incidental to the activities of a foreign branch or foreign bank affiliate of the member bank; and (4) Subsidiaries established pursuant to Sec. 211.4(a)(8) of this part. (c) Eligible investments. Subject to the limitations set out in paragraphs (b) and (d) of this section, an investor may, directly or indirectly: (1) Investment in subsidiary. Invest in a subsidiary that engages solely in activities listed in Sec. 211.10 of this part, or in such other activities as the Board has determined in the circumstances of a particular case are permissible; provided that, in the case of an acquisition of a going concern, existing activities that are not otherwise permissible for a subsidiary may account for not more than 5 percent of either the consolidated assets or consolidated revenues of the acquired organization; (2) Investment in joint venture. Invest in a joint venture; provided that, unless otherwise permitted by the Board, not more than 10 percent of the joint venture's consolidated assets or consolidated revenues are attributable to activities not listed in Sec. 211.10 of this part; and (3) Portfolio investments. Make portfolio investments in an organization, provided that: (i) Individual investment limits. The total direct and indirect portfolio investments by the investor and its affiliates in an organization engaged in activities that are not permissible for joint ventures, when combined with all other shares in the organization held under any other authority, do not exceed: (A) 40 percent of the total equity of the organization; or (B) 19.9 percent of the organization's voting shares. (ii) Aggregate Investment Limit. Portfolio investments made under authority of this subpart shall be subject to the aggregate equity limit of Sec. 211.10(a)(15)(iii). (iii) Loans and extensions of credit. Any loans and extensions of credit made by an investor or its affiliates to the organization are on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions between the investor or its affiliates and nonaffiliated persons; and (iv) Protecting shareholder rights. Nothing in this paragraph (c)(3) shall prohibit an investor from otherwise exercising rights it may have as shareholder to protect the value of its investment, so long as the exercise of such rights does not result in the investor's direct or indirect control of the organization. (d) Investment limit. In calculating the amount that may be invested in any [[Page 325]] organization under this section and Sec. Sec. 211.9 and 211.10 of this part, there shall be included any unpaid amount for which the investor is liable and any investments in the same organization held by affiliates under any authority. (e) Divestiture. An investor shall dispose of an investment promptly (unless the Board authorizes retention) if: (1) The organization invested in: (i) Engages in impermissible activities to an extent not permitted under paragraph (c) of this section; or (ii) Engages directly or indirectly in other business in the United States that is not permitted to an Edge corporation in the United States; provided that an investor may: (A) Retain portfolio investments in companies that derive no more than 10 percent of their total revenue from activities in the United States; and (B) Hold up to 5 percent of the shares of a foreign company that engages directly or indirectly in business in the United States that is not permitted to an Edge corporation; or (2) After notice and opportunity for hearing, the investor is advised by the Board that such investment is inappropriate under the FRA, the BHC Act, or this subpart. (f) Debts previously contracted. Shares or other ownership interests acquired to prevent a loss upon a debt previously contracted in good faith are not subject to the limitations or procedures of this section; provided that such interests shall be disposed of promptly but in no event later than two years after their acquisition, unless the Board authorizes retention for a longer period. (g) Investments made through debt-for-equity conversions--(1) Permissible investments. A bank holding company may make investments through the conversion of sovereign-or private-debt obligations of an eligible country, either through direct exchange of the debt obligations for the investment, or by a payment for the debt in local currency, the proceeds of which, including an additional cash investment not exceeding in the aggregate more than 10 percent of the fair value of the debt obligations being converted as part of such investment, are used to purchase the following investments: (i) Public-sector companies. A bank holding company may acquire up to and including 100 percent of the shares of (or other ownership interests in) any foreign company located in an eligible country, if the shares are acquired from the government of the eligible country or from its agencies or instrumentalities. (ii) Private-sector companies. A bank holding company may acquire up to and including 40 percent of the shares, including voting shares, of (or other ownership interests in) any other foreign company located in an eligible country subject to the following conditions: (A) A bank holding company may acquire more than 25 percent of the voting shares of the foreign company only if another shareholder or group of shareholders unaffiliated with the bank holding company holds a larger block of voting shares of the company; (B) The bank holding company and its affiliates may not lend or otherwise extend credit to the foreign company in amounts greater than 50 percent of the total loans and extensions of credit to the foreign company; and (C) The bank holding company's representation on the board of directors or on management committees of the foreign company may be no more than proportional to its shareholding in the foreign company. (2) Investments by bank subsidiary of bank holding company. Upon application, the Board may permit an indirect investment to be made pursuant to this paragraph (g) through an insured bank subsidiary of the bank holding company, where the bank holding company demonstrates that such ownership is consistent with the purposes of the FRA. In granting its consent, the Board may impose such conditions as it deems necessary or appropriate to prevent adverse effects, including prohibiting loans from the bank to the company in which the investment is made. (3) Divestiture--(i) Time limits for divestiture. A bank holding company shall divest the shares of, or other ownership interests in, any company acquired pursuant to this paragraph (g) within the longer of: [[Page 326]] (A) Ten years from the date of acquisition of the investment, except that the Board may extend such period if, in the Board's judgment, such an extension would not be detrimental to the public interest; or (B) Two years from the date on which the bank holding company is permitted to repatriate in full the investment in the foreign company. (ii) Maximum retention period. Notwithstanding the provisions of paragraph (g)(3)(i) of this section: (A) Divestiture shall occur within 15 years of the date of acquisition of the shares of, or other ownership interests in, any company acquired pursuant to this paragraph (g); and (B) A bank holding company may retain such shares or ownership interests if such retention is otherwise permissible at the time required for divestiture. (iii) Report to Board. The bank holding company shall report to the Board on its plans for divesting an investment made under this paragraph (g) two years prior to the final date for divestiture, in a manner to be prescribed by the Board. (iv) Other conditions requiring divestiture. All investments made pursuant to this paragraph (g) are subject to paragraph (e) of this section requiring prompt divestiture (unless the Board upon application authorizes retention), if the company invested in engages in impermissible business in the United States that exceeds in the aggregate 10 percent of the company's consolidated assets or revenues calculated on an annual basis; provided that such company may not engage in activities in the United States that consist of banking or financial operations (as defined in Sec. 211.23(f)(5)(iii)(B)) of this part, or types of activities permitted by regulation or order under section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)), except under regulations of the Board or with the prior approval of the Board. (4) Investment procedures--(i) General consent. Subject to the other limitations of this paragraph (g), the Board grants its general consent for investments made under this paragraph (g) if the total amount invested does not exceed the greater of $25 million or 1 percent of the tier 1 capital of the investor. (ii) All other investments shall be made in accordance with the procedures of Sec. 211.9(f) and (g) of this part, requiring prior notice or specific consent. (5) Conditions--(i) Name. Any company acquired pursuant to this paragraph (g) shall not bear a name similar to the name of the acquiring bank holding company or any of its affiliates. (ii) Confidentiality. Neither the bank holding company nor its affiliates shall provide to any company acquired pursuant to this paragraph (g) any confidential business information or other information concerning customers that are engaged in the same or related lines of business as the company. [66 FR 54374, Oct. 26, 2001, as amended at 66 FR 58655, Nov. 23, 2001] Sec. 211.9 Investment procedures. (a) General provisions.\1\ Direct and indirect investments shall be made in accordance with the general consent, limited general consent, prior notice, or specific consent procedures contained in this section. --------------------------------------------------------------------------- \1\ When necessary, the provisions of this section relating to general consent and prior notice constitute the Board's approval under section 25A(8) of the FRA (12 U.S.C. 615) for investments in excess of the limitations therein based on capital and surplus. --------------------------------------------------------------------------- (1) Minimum capital adequacy standards. Except as the Board may otherwise determine, in order for an investor to make investments pursuant to the procedures set out in this section, the investor, the bank holding company, and the member bank shall be in compliance with applicable minimum standards for capital adequacy set out in the capital rule; provided that, if the investor is an Edge or agreement corporation, the minimum capital required is total and tier 1 capital ratios of 8 percent and 4 percent, respectively. (2) Composite rating. Except as the Board may otherwise determine, in order for an investor to make investments under the general consent or limited general consent procedures of paragraphs (b) and (c) of this section, [[Page 327]] at the most recent examination the investor and any parent insured bank must have either received a composite rating of at least 2 or be considered satisfactory under the applicable rating system. (3) Board's authority to modify or suspend procedures. The Board, at any time upon notice, may modify or suspend the procedures contained in this section with respect to any investor or with respect to the acquisition of shares of organizations engaged in particular kinds of activities. (4) Long-range investment plan. Any investor may submit to the Board for its specific consent a long-range investment plan. Any plan so approved shall be subject to the other procedures of this section only to the extent determined necessary by the Board to assure safety and soundness of the operations of the investor and its affiliates. (5) Prior specific consent for initial investment. An investor shall apply for and receive the prior specific consent of the Board for its initial investment under this subpart in its first subsidiary or joint venture, unless an affiliate previously has received approval to make such an investment. (6) Expiration of investment authority. Authority to make investments granted under prior notice or specific consent procedures shall expire one year from the earliest date on which the authority could have been exercised, unless the Board determines a longer period shall apply. (7) Conditional approval; Access to information. The Board may impose such conditions on authority granted by it under this section as it deems necessary, and may require termination of any activities conducted under authority of this subpart if an investor is unable to provide information on its activities or those of its affiliates that the Board deems necessary to determine and enforce compliance with U.S. banking laws. (b) General consent. The Board grants its general consent for a well capitalized and well managed investor to make investments, subject to the following: (1) Well capitalized and well managed investor. In order to qualify for making investments under authority of this paragraph (b), both before and immediately after the proposed investment, the investor, any parent insured bank, and any parent bank holding company shall be well capitalized and well managed. (2) Individual limit for investment in subsidiary. In the case of an investment in a subsidiary, the total amount invested directly or indirectly in such subsidiary (in one transaction or a series of transactions) does not exceed: (i) 10 percent of the investor's tier 1 capital, where the investor is a bank holding company; or (ii) 2 percent of the investor's tier 1 capital, where the investor is a member bank; or (iii) The lesser of 2 percent of the tier 1 capital of any parent insured bank or 10 percent of the investor's tier 1 capital, for any other investor. (3) Individual limit for investment in joint venture. In the case of an investment in a joint venture, the total amount invested directly or indirectly in such joint venture (in one transaction or a series of transactions) does not exceed: (i) 5 percent of the investor's tier 1 capital, where the investor is a bank holding company; or (ii) 1 percent of the investor's tier 1 capital, where the investor is a member bank; or (iii) The lesser of 1 percent of the tier 1 capital of any parent insured bank or 5 percent of the investor's tier 1 capital, for any other investor. (4) Individual limit for portfolio investment. In the case of a portfolio investment, the total amount invested directly or indirectly in such company (in one transaction or a series of transactions) does not exceed the lesser of $25 million, or (i) 5 percent of the investor's tier 1 capital in the case of a bank holding company or its subsidiary, or Edge corporation engaged in banking; or (ii) 25 percent of the investor's tier 1 capital in the case of an Edge corporation not engaged in banking. (5) Investment in a general partnership or unlimited liability company. An investment in a general partnership or unlimited liability company may be made under authority of paragraph (b) [[Page 328]] of this section, subject to the limits set out in paragraph (c) of this section. (6) Aggregate investment limits--(i) Investment limits. All investments made, directly or indirectly, during the previous 12-month period under authority of this section, when aggregated with the proposed investment, shall not exceed: (A) 20 percent of the investor's tier 1 capital, where the investor is a bank holding company; (B) 10 percent of the investor's tier 1 capital, where the investor is a member bank; or (C) The lesser of 10 percent of the tier 1 capital of any parent insured bank or 50 percent of the tier 1 capital of the investor, for any other investor. (ii) Downstream investments. In determining compliance with the aggregate limits set out in this paragraph (b), an investment by an investor in a subsidiary shall be counted only once, notwithstanding that such subsidiary may, within 12 months of the date of making the investment, downstream all or any part of such investment to another subsidiary. (7) Application of limits. In determining compliance with the limits set out in this paragraph (b), an investor is not required to combine the value of all shares of an organization held in trading or dealing accounts under Sec. 211.10(a)(15) of this part with investments in the same organization. (c) Limited general consent--(1) Individual limit. The Board grants its general consent for an investor that is not well capitalized and well managed to make an investment in a subsidiary or joint venture, or to make a portfolio investment, if the total amount invested directly or indirectly (in one transaction or in a series of transactions) does not exceed the lesser of $25 million or: (i) 5 percent of the investor's tier 1 capital, where the investor is a bank holding company; (ii) 1 percent of the investor's tier 1 capital, where the investor is a member bank; or (iii) The lesser of 1 percent of any parent insured bank's tier 1 capital or 5 percent of the investor's tier 1 capital, for any other investor. (2) Aggregate limit. The amount of general consent investments made by any investor directly or indirectly under authority of this paragraph (c) during the previous 12-month period, when aggregated with the proposed investment, shall not exceed: (i) 10 percent of the investor's tier 1 capital, where the investor is a bank holding company; (ii) 5 percent of the investor's tier 1 capital, where the investor is a member bank; and (iii) The lesser of 5 percent of any parent insured bank's tier 1 capital or 25 percent of the investor's tier 1 capital, for any other investor. (3) Application of limits. In calculating compliance with the limits of this paragraph (c), the rules set forth in paragraphs (b)(6)(ii) and (b)(7) of this section shall apply. (d) Other eligible investments under general consent. In addition to the authority granted under paragraphs (b) and (c) of this section, the Board grants its general consent for any investor to make the following investments: (1) Investment in organization equal to cash dividends. Any investment in an organization in an amount equal to cash dividends received from that organization during the preceding 12 calendar months; and (2) Investment acquired from affiliate. Any investment that is acquired from an affiliate at net asset value or through a contribution of shares. (e) Investments ineligible for general consent. An investment in a foreign bank may not be made under authority of paragraphs (b) or (c) of this section if: (1) After the investment, the foreign bank would be an affiliate of a member bank; and (2) The foreign bank is located in a country in which the member bank and its affiliates have no existing banking presence. (f) Prior notice. An investment that does not qualify for general consent under paragraph (b), (c), or (d) of this section may be made after the investor has given the Board 30 days' prior written notice, such notice period to commence at the time the notice is received, provided that: [[Page 329]] (1) The Board may waive the 30-day period if it finds the full period is not required for consideration of the proposed investment, or that immediate action is required by the circumstances presented; and (2) The Board may suspend the 30-day period or act on the investment under the Board's specific consent procedures. (g) Specific consent. Any investment that does not qualify for either the general consent or the prior notice procedure may not be consummated without the specific consent of the Board. [66 FR 54374, Oct. 26, 2001, as amended at 66 FR 58655, Nov. 23, 2001; Reg. K, 83 FR 58734, Nov. 21, 2018; 84 FR 61797, Nov. 13, 2019] Sec. 211.10 Permissible activities abroad. (a) Activities usual in connection with banking. The Board has determined that the following activities are usual in connection with the transaction of banking or other financial operations abroad: (1) Commercial and other banking activities; (2) Financing, including commercial financing, consumer financing, mortgage banking, and factoring; (3) Leasing real or personal property, or acting as agent, broker, or advisor in leasing real or personal property consistent with the provisions of Regulation Y (12 CFR part 225); (4) Acting as fiduciary; (5) Underwriting credit life insurance and credit accident and health insurance; (6) Performing services for other direct or indirect operations of a U.S. banking organization, including representative functions, sale of long-term debt, name-saving, holding assets acquired to prevent loss on a debt previously contracted in good faith, and other activities that are permissible domestically for a bank holding company under sections 4(a)(2)(A) and 4(c)(1)(C) of the BHC Act (12 U.S.C. 1843(a)(2)(A), (c)(1)(C)); (7) Holding the premises of a branch of an Edge or agreement corporation or member bank or the premises of a direct or indirect subsidiary, or holding or leasing the residence of an officer or employee of a branch or subsidiary; (8) Providing investment, financial, or economic advisory services; (9) General insurance agency and brokerage; (10) Data processing; (11) Organizing, sponsoring, and managing a mutual fund, if the fund's shares are not sold or distributed in the United States or to U.S. residents and the fund does not exercise managerial control over the firms in which it invests; (12) Performing management consulting services, if such services, when rendered with respect to the U.S. market, shall be restricted to the initial entry; (13) Underwriting, distributing, and dealing in debt securities outside the United States; (14) Underwriting and distributing equity securities outside the United States as follows: (i) Limits for well-capitalized and well-managed investor--(A) General. After providing 30 days' prior written notice to the Board, an investor that is well capitalized and well managed may underwrite equity securities, provided that commitments by an investor and its subsidiaries for the shares of a single organization do not, in the aggregate, exceed: (1) 15 percent of the bank holding company's tier 1 capital, where the investor is a bank holding company; (2) 3 percent of the investor's tier 1 capital, where the investor is a member bank; or (3) The lesser of 3 percent of any parent insured bank's tier 1 capital or 15 percent of the investor's tier 1 capital, for any other investor; (B) Qualifying criteria. An investor will be considered well- capitalized and well-managed for purposes of paragraph (a)(14)(i) of this section only if each of the bank holding company, member bank, and Edge or agreement corporation qualify as well-capitalized and well- managed. (ii) Limits for investor that is not well capitalized and well managed. After providing 30 days' prior written notice to the Board, an investor that is not well capitalized and well managed may underwrite equity securities, provided that commitments by the investor and [[Page 330]] its subsidiaries for the shares of an organization do not, in the aggregate, exceed $60 million; and (iii) Application of limits. For purposes of determining compliance with the limitations of this paragraph (a)(14), the investor may subtract portions of an underwriting that are covered by binding commitments obtained by the investor or its affiliates from sub- underwriters or other purchasers; (15) Dealing in equity securities outside the United States as follows: (i) Grandfathered authority. By an investor, or an affiliate, that had commenced such activities prior to March 27, 1991, and subject to the limitations in effect at that time (See 12 CFR part 211, revised January 1, 1991); or (ii) Limit on shares of a single issuer. After providing 30 days' prior written notice to the Board, an investor may deal in the shares of an organization where the shares held in the trading or dealing accounts of an investor and its affiliates under authority of this paragraph (a)(15) do not in the aggregate exceed the lesser of: (A) $40 million; or (B) 10 percent of the investor's tier 1 capital; (iii) Aggregate equity limit. The total shares held directly and indirectly by the investor and its affiliates under authority of this paragraph (a)(15) and Sec. 211.8(c)(3) of this part in organizations engaged in activities that are not permissible for joint ventures do not exceed: (A) 25 percent of the bank holding company's tier 1 capital, where the investor is a bank holding company; (B) 20 percent of the investor's tier 1 capital, where the investor is a member bank; \6\ and --------------------------------------------------------------------------- \6\ For this purpose, a direct subsidiary of a member bank is deemed to be an investor. --------------------------------------------------------------------------- (C) The lesser of 20 percent of any parent insured bank's tier 1 capital or 100 percent of the investor's tier 1 capital, for any other investor; (iv) Determining compliance with limits--(A) General. For purposes of determining compliance with all limits set out in this paragraph (a)(15): (1) Long and short positions in the same security may be netted; and (2) Except as provided in paragraph (a)(15)(iv)(B)(4) of this section, equity securities held in order to hedge bank permissible equity derivatives contracts shall not be included. (B) Use of internal hedging models. After providing 30 days' prior written notice to the Board the investor may use an internal hedging model that: (1) Nets long and short positions in the same security and offsets positions in a security by futures, forwards, options, and other similar instruments referenced to the same security, for purposes of determining compliance with the single issuer limits of paragraph (a)(15)(ii) of this section;\7\ and --------------------------------------------------------------------------- \7\ A basket of stocks, specifically segregated as an offset to a position in a stock index derivative product, as computed by the investor's internal model, may be offset against the stock index. --------------------------------------------------------------------------- (2) Offsets its long positions in equity securities by futures, forwards, options, and similar instruments, on a portfolio basis, and for purposes of determining compliance with the aggregate equity limits of paragraph (a)(15)(iii) of this section. (3) With respect to all equity securities held under authority of paragraph (a)(15) of this section, no net long position in a security shall be deemed to have been reduced by more than 75 percent through use of internal hedging models under this paragraph (a)(15)(iv)(B); and (4) With respect to equity securities acquired to hedge bank permissible equity derivatives contracts under authority of paragraph (a)(1) of this section, any residual position that remains in the securities of a single issuer after netting and offsetting of positions relating to the security under the investor's internal hedging models shall be included in calculating compliance with the limits of this paragraph (a)(15)(ii) and (iii). (C) Underwriting commitments. Any shares acquired pursuant to an underwriting commitment that are held for longer than 90 days after the payment date for such underwriting shall be subject to the limits set out in paragraph (a)(15) of this section and the investment provisions of Sec. Sec. 211.8 and 211.9 of this part. [[Page 331]] (v) Authority to deal in shares of U.S. organization. The authority to deal in shares under paragraph (a)(15) of this section includes the authority to deal in the shares of a U.S. organization: (A) With respect to foreign persons only; and (B) Subject to the limitations on owning or controlling shares of a company in section 4(c)(6) of the BHC Act (12 U.S.C. 1843(c)(6)) and Regulation Y (12 CFR part 225). (vi) Report to senior management. Any shares held in trading or dealing accounts for longer than 90 days shall be reported to the senior management of the investor; (16) Operating a travel agency, but only in connection with financial services offered abroad by the investor or others; (17) Underwriting life, annuity, pension fund-related, and other types of insurance, where the associated risks have been previously determined by the Board to be actuarially predictable; provided that: (i) Investments in, and loans and extensions of credit (other than loans and extensions of credit fully secured in accordance with the requirements of section 23A of the FRA (12 U.S.C. 371c), or with such other standards as the Board may require) to, the company by the investor or its affiliates are deducted from the capital of the investor (with 50 percent of such capital deduction to be taken from tier 1 capital); and (ii) Activities conducted directly or indirectly by a subsidiary of a U.S. insured bank are excluded from the authority of this paragraph (a)(17), unless authorized by the Board; (18) Providing futures commission merchant services (including clearing without executing and executing without clearing) for nonaffiliated persons with respect to futures and options on futures contracts for financial and nonfinancial commodities; provided that prior notice under Sec. 211.9(f) of this part shall be provided to the Board before any subsidiaries of a member bank operating pursuant to this subpart may join a mutual exchange or clearinghouse, unless the potential liability of the investor to the exchange, clearinghouse, or other members of the exchange, as the case may be, is legally limited by the rules of the exchange or clearinghouse to an amount that does not exceed applicable general consent limits under Sec. 211.9 of this part; (19) Acting as principal or agent in commodity-swap transactions in relation to: (i) Swaps on a cash-settled basis for any commodity, provided that the investor's portfolio of swaps contracts is hedged in a manner consistent with safe and sound banking practices; and (ii) Contracts that require physical delivery of a commodity, provided that: (A) Such contracts are entered into solely for the purpose of hedging the investor's positions in the underlying commodity or derivative contracts based on the commodity; (B) The contract allows for assignment, termination or offset prior to expiration; and (C) Reasonable efforts are made to avoid delivery. (b) Regulation Y activities. An investor may engage in activities that the Board has determined in Sec. 225.28(b) of Regulation Y (12 CFR 225.28(b)) are closely related to banking under section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)). (c) Specific approval. With the Board's specific approval, an investor may engage in other activities that the Board determines are usual in connection with the transaction of the business of banking or other financial operations abroad and are consistent with the FRA or the BHC Act. Sec. 211.11 Advisory opinions under Regulation K. (a) Request for advisory opinion. Any person may submit a request to the Board for an advisory opinion regarding the scope of activities permissible under any subpart of this part. (b) Form and content of the request. Any request for an advisory opinion under this section shall be: (1) Submitted in writing to the Board; (2) Contain a clear description of the proposed parameters of the activity, or the service or product, at issue; and (3) Contain a concise explanation of the grounds on which the submitter contends the activity is or should be [[Page 332]] considered by the Board to be permissible under this part. (c) Response to request. In response to a request received under this section, the Board shall: (1) Direct the submitter to provide such additional information as the Board may deem necessary to complete the record for a full consideration of the issue presented; and (2) Provide an advisory opinion within 45 days after the record on the request has been determined to be complete. Sec. 211.12 Lending limits and capital requirements. (a) Acceptances of Edge corporations. (1) Limitations. An Edge corporation shall be and remain fully secured for acceptances of the types described in section 13(7) of the FRA (12 U.S.C. 372), as follows: (i) All acceptances outstanding in excess of 200 percent of its tier 1 capital; and (ii) All acceptances outstanding for any one person in excess of 10 percent of its tier 1 capital. (2) Exceptions. These limitations do not apply if the excess represents the international shipment of goods, and the Edge corporation is: (i) Fully covered by primary obligations to reimburse it that are guaranteed by banks or bankers; or (ii) Covered by participation agreements from other banks, as described in 12 CFR 250.165. (b) Loans and extensions of credit to one person--(1) Loans and extensions of credit defined. Loans and extensions of credit has the meaning set forth in Sec. 211.2(q) of this part \8\ and, for purposes of this paragraph (b), also include: --------------------------------------------------------------------------- \8\ In the case of a foreign government, these includes loans and extensions of credit to the foreign government's departments or agencies deriving their current funds principally from general tax revenues. In the case of a partnership or firm, these include loans and extensions of credit to its members and, in the case of a corporation, these include loans and extensions of credit to the corporation's affiliates, where the affiliate incurs the liability for the benefit of the corporation. --------------------------------------------------------------------------- (i) Acceptances outstanding that are not of the types described in section 13(7) of the FRA (12 U.S.C. 372); (ii) Any liability of the lender to advance funds to or on behalf of a person pursuant to a guarantee, standby letter of credit, or similar agreements; (iii) Investments in the securities of another organization other than a subsidiary; and (iv) Any underwriting commitments to an issuer of securities, where no binding commitments have been secured from subunderwriters or other purchasers. (2) Limitations. Except as the Board may otherwise specify: (i) The total loans and extensions of credit outstanding to any person by an Edge corporation engaged in banking, and its direct or indirect subsidiaries, may not exceed 15 percent of the Edge corporation's tier 1 capital;\9\ and --------------------------------------------------------------------------- \9\ For purposes of this paragraph (b), subsidiaries includes subsidiaries controlled by the Edge corporation, but does not include companies otherwise controlled by affiliates of the Edge corporation. --------------------------------------------------------------------------- (ii) The total loans and extensions of credit to any person by a foreign bank or Edge corporation subsidiary of a member bank, and by majority-owned subsidiaries of a foreign bank or Edge corporation, when combined with the total loans and extensions of credit to the same person by the member bank and its majority-owned subsidiaries, may not exceed the member bank's limitation on loans and extensions of credit to one person. (3) Exceptions. The limitations of paragraph (b)(2) of this section do not apply to: (i) Deposits with banks and federal funds sold; (ii) Bills or drafts drawn in good faith against actual goods and on which two or more unrelated parties are liable; (iii) Any banker's acceptance, of the kind described in section 13(7) of the FRA (12 U.S.C. 372), that is issued and outstanding; (iv) Obligations to the extent secured by cash collateral or by bonds, notes, certificates of indebtedness, or Treasury bills of the United States; (v) Loans and extensions of credit that are covered by bona fide participation agreements; and (vi) Obligations to the extent supported by the full faith and credit of the following: [[Page 333]] (A) The United States or any of its departments, agencies, establishments, or wholly owned corporations (including obligations, to the extent insured against foreign political and credit risks by the Export-Import Bank of the United States or the Foreign Credit Insurance Association), the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, or the European Bank for Reconstruction and Development; (B) Any organization, if at least 25 percent of such an obligation or of the total credit is also supported by the full faith and credit of, or participated in by, any institution designated in paragraph (b)(3)(vi)(A) of this section in such manner that default to the lender would necessarily include default to that entity. The total loans and extensions of credit under this paragraph (b)(3)(vi)(B) to any person shall at no time exceed 100 percent of the tier 1 capital of the Edge corporation. (c) Capitalization. (1) An Edge corporation shall at all times be capitalized in an amount that is adequate in relation to the scope and character of its activities. (2) In the case of an Edge corporation engaged in banking, the minimum ratio of qualifying total capital to risk-weighted assets, as determined under the capital rule, shall not be less than 10 percent, of which at least 50 percent shall consist of tier 1 capital. (3) For purposes of this paragraph (c), no limitation shall apply on the inclusion of subordinated debt that qualifies as tier 2 capital under the capital rule. [Reg. K, 66 FR 54374, Oct. 26, 2001, as amended at 84 FR 61797, Nov. 13, 2019] Sec. 211.13 Supervision and reporting. (a) Supervision--(1) Foreign branches and subsidiaries. U.S. banking organizations conducting international operations under this subpart shall supervise and administer their foreign branches and subsidiaries in such a manner as to ensure that their operations conform to high standards of banking and financial prudence. (i) Effective systems of records, controls, and reports shall be maintained to keep management informed of their activities and condition. (ii) Such systems shall provide, in particular, information on risk assets, exposure to market risk, liquidity management, operations, internal controls, legal and operational risk, and conformance to management policies. (iii) Reports on risk assets shall be sufficient to permit an appraisal of credit quality and assessment of exposure to loss, and, for this purpose, provide full information on the condition of material borrowers. (iv) Reports on operations and controls shall include internal and external audits of the branch or subsidiary. (2) Joint ventures. Investors shall maintain sufficient information with respect to joint ventures to keep informed of their activities and condition. (i) Such information shall include audits and other reports on financial performance, risk exposure, management policies, operations, and controls. (ii) Complete information shall be maintained on all transactions with the joint venture by the investor and its affiliates. (3) Availability of reports and information to examiners. The reports specified in paragraphs (a)(1) and (2) of this section and any other information deemed necessary to determine compliance with U.S. banking law shall be made available to examiners of the appropriate bank supervisory agencies. (b) Examinations. Examiners appointed by the Board shall examine each Edge corporation once a year. An Edge or agreement corporation shall make available to examiners information sufficient to assess its condition and operations and the condition and activities of any organization whose shares it holds. (c) Reports--(1) Reports of condition. Each Edge or agreement corporation shall make reports of condition to the Board at such times and in such form as the Board may prescribe. The Board may require that statements of condition or other reports be published or made available for public inspection. (2) Foreign operations. Edge and agreement corporations, member banks, and [[Page 334]] bank holding companies shall file such reports on their foreign operations as the Board may require. (3) Acquisition or disposition of shares. Member banks, Edge and agreement corporations, and bank holding companies shall report, in a manner prescribed by the Board, any acquisition or disposition of shares. (d) Filing and processing procedures--(1) Place of filing. Unless otherwise directed by the Board, applications, notices, and reports required by this part shall be filed with the Federal Reserve Bank of the District in which the parent bank or bank holding company is located or, if none, the Reserve Bank of the District in which the applying or reporting institution is located. Instructions and forms for applications, notices, and reports are available from the Reserve Banks. (2) Timing. The Board shall act on an application under this subpart within 60 calendar days after the Reserve Bank has received the application, unless the Board notifies the investor that the 60-day period is being extended and states the reasons for the extension. Subpart B_Foreign Banking Organizations Source: Reg. K, 66 FR 54374, Oct. 26, 2001, unless otherwise noted. Sec. 211.20 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board of Governors of the Federal Reserve System (Board) under the authority of the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1841 et seq.) and the International Banking Act of 1978 (IBA) (12 U.S.C. 3101 et seq.). (b) Purpose and scope. This subpart is in furtherance of the purposes of the BHC Act and the IBA. It applies to foreign banks and foreign banking organizations with respect to: (1) The limitations on interstate banking under section 5 of the IBA (12 U.S.C. 3103); (2) The exemptions from the nonbanking prohibitions of the BHC Act and the IBA afforded by sections 2(h) and 4(c)(9) of the BHC Act (12 U.S.C. 1841(h), 1843(c)(9)); (3) Board approval of the establishment of an office of a foreign bank in the United States under sections 7(d) and 10(a) of the IBA (12 U.S.C. 3105(d), 3107(a)); (4) The termination by the Board of a foreign bank's representative office, state branch, state agency, or commercial lending company subsidiary under sections 7(e) and 10(b) of the IBA (12 U.S.C. 3105(e), 3107(b)), and the transmission of a recommendation to the Comptroller to terminate a federal branch or federal agency under section 7(e)(5) of the IBA (12 U.S.C. 3105(e)(5)); (5) The examination of an office or affiliate of a foreign bank in the United States as provided in sections 7(c) and 10(c) of the IBA (12 U.S.C. 3105(c), 3107(c)); (6) The disclosure of supervisory information to a foreign supervisor under section 15 of the IBA (12 U.S.C. 3109); (7) The limitations on loans to one borrower by state branches and state agencies of a foreign bank under section 7(h)(2) of the IBA (12 U.S.C. 3105(h)(2)); (8) The limitation of a state branch and a state agency to conducting only activities that are permissible for a federal branch under section (7)(h)(1) of the IBA (12 U.S.C. 3105(h)(1)); and (9) The deposit insurance requirement for retail deposit taking by a foreign bank under section 6 of the IBA (12 U.S.C. 3104). (10) The management of shell branches (12 U.S.C. 3105(k)). (c) Additional requirements. Compliance by a foreign bank with the requirements of this subpart and the laws administered and enforced by the Board does not relieve the foreign bank of responsibility to comply with the laws and regulations administered by the licensing authority. Sec. 211.21 Definitions. The definitions contained in Sec. Sec. 211.1 and 211.2 apply to this subpart, except as a term is otherwise defined in this section: (a) Affiliate of a foreign bank or of a parent of a foreign bank means any company that controls, is controlled by, or is under common control with, the foreign bank or the parent of the foreign bank. [[Page 335]] (b) Agency means any place of business of a foreign bank, located in any state, at which credit balances are maintained, checks are paid, money is lent, or, to the extent not prohibited by state or federal law, deposits are accepted from a person or entity that is not a citizen or resident of the United States. Obligations shall not be considered credit balances unless they are: (1) Incidental to, or arise out of the exercise of, other lawful banking powers; (2) To serve a specific purpose; (3) Not solicited from the general public; (4) Not used to pay routine operating expenses in the United States such as salaries, rent, or taxes; (5) Withdrawn within a reasonable period of time after the specific purpose for which they were placed has been accomplished; and (6) Drawn upon in a manner reasonable in relation to the size and nature of the account. (c)(1) Appropriate Federal Reserve Bank means, unless the Board designates a different Federal Reserve Bank: (i) For a foreign banking organization, the Reserve Bank assigned to the foreign banking organization in Sec. 225.3(b)(2) of Regulation Y (12 CFR 225.3(b)(2)); (ii) For a foreign bank that is not a foreign banking organization and proposes to establish an office, an Edge corporation, or an agreement corporation, the Reserve Bank of the Federal Reserve District in which the foreign bank proposes to establish such office or corporation; and (iii) In all other cases, the Reserve Bank designated by the Board. (2) The appropriate Federal Reserve Bank need not be the Reserve Bank of the Federal Reserve District in which the foreign bank's home state is located. (d) Banking subsidiary, with respect to a specified foreign bank, means a bank that is a subsidiary as the terms bank and subsidiary are defined in section 2 of the BHC Act (12 U.S.C. 1841). (e) Branch means any place of business of a foreign bank, located in any state, at which deposits are received, and that is not an agency, as that term is defined in paragraph (b) of this section. (f) Change the status of an office means to convert a representative office into a branch or agency, or an agency or limited branch into a branch, but does not include renewal of the license of an existing office. (g) Commercial lending company means any organization, other than a bank or an organization operating under section 25 of the Federal Reserve Act (FRA) (12 U.S.C. 601-604a), organized under the laws of any state, that maintains credit balances permissible for an agency, and engages in the business of making commercial loans. Commercial lending company includes any company chartered under article XII of the banking law of the State of New York. (h) Comptroller means the Office of the Comptroller of the Currency. (i) Control has the same meaning as in section 2(a) of the BHC Act (12 U.S.C. 1841(a)), and the terms controlled and controlling shall be construed consistently with the term control. (j) Domestic branch means any place of business of a foreign bank, located in any state, that may accept domestic deposits and deposits that are incidental to or for the purpose of carrying out transactions in foreign countries. (k) A foreign bank engages directly in the business of banking outside the United States if the foreign bank engages directly in banking activities usual in connection with the business of banking in the countries where it is organized or operating. (l) To establish means: (1) To open and conduct business through an office; (2) To acquire directly, through merger, consolidation, or similar transaction with another foreign bank, the operations of an office that is open and conducting business; (3) To acquire an office through the acquisition of a foreign bank subsidiary that will cease to operate in the same corporate form following the acquisition; (4) To change the status of an office; or (5) To relocate an office from one state to another. (m) Federal agency, federal branch, state agency, and state branch have the [[Page 336]] same meanings as in section 1 of the IBA (12 U.S.C. 3101). (n) Foreign bank means an organization that is organized under the laws of a foreign country and that engages directly in the business of banking outside the United States. The term foreign bank does not include a central bank of a foreign country that does not engage or seek to engage in a commercial banking business in the United States through an office. (o) Foreign banking organization means: (1) A foreign bank, as defined in section 1(b)(7) of the IBA (12 U.S.C. 3101(7)), that: (i) Operates a branch, agency, or commercial lending company subsidiary in the United States; (ii) Controls a bank in the United States; or (iii) Controls an Edge corporation acquired after March 5, 1987; and (2) Any company of which the foreign bank is a subsidiary. (p) Home country, with respect to a foreign bank, means the country in which the foreign bank is chartered or incorporated. (q) Home country supervisor, with respect to a foreign bank, means the governmental entity or entities in the foreign bank's home country with responsibility for the supervision and regulation of the foreign bank. (r) Licensing authority means: (1) The relevant state supervisor, with respect to an application to establish a state branch, state agency, commercial lending company, or representative office of a foreign bank; or (2) The Comptroller, with respect to an application to establish a federal branch or federal agency. (s) Limited branch means a branch of a foreign bank that receives only such deposits as would be permitted for a corporation organized under section 25A of the Federal Reserve Act (12 U.S.C. 611-631). (t) Office or office of a foreign bank means any branch, agency, representative office, or commercial lending company subsidiary of a foreign bank in the United States. (u) A parent of a foreign bank means a company of which the foreign bank is a subsidiary. An immediate parent of a foreign bank is a company of which the foreign bank is a direct subsidiary. An ultimate parent of a foreign bank is a parent of the foreign bank that is not the subsidiary of any other company. (v) Regional administrative office means a representative office that: (1) Is established by a foreign bank that operates two or more branches, agencies, commercial lending companies, or banks in the United States; (2) Is located in the same city as one or more of the foreign bank's branches, agencies, commercial lending companies, or banks in the United States; (3) Manages, supervises, or coordinates the operations of the foreign bank or its affiliates, if any, in a particular geographic area that includes the United States or a region thereof, including by exercising credit approval authority in that area pursuant to written standards, credit policies, and procedures established by the foreign bank; and (4) Does not solicit business from actual or potential customers of the foreign bank or its affiliates. (w) Relevant state supervisor means the state entity that is authorized to supervise and regulate a state branch, state agency, commercial lending company, or representative office. (x) Representative office means any office of a foreign bank which is located in any state and is not a Federal branch, Federal agency, State branch, State agency, or commercial lending company subsidiary. (y) State means any state of the United States or the District of Columbia. (z) Subsidiary means any organization that: (1) Has 25 percent or more of its voting shares directly or indirectly owned, controlled, or held with the power to vote by a company, including a foreign bank or foreign banking organization; or (2) Is otherwise controlled, or capable of being controlled, by a foreign bank or foreign banking organization. Sec. 211.22 Interstate banking operations of foreign banking organizations. (a) Determination of home state. (1) A foreign bank that, as of December 10, 1997, had declared a home state or had [[Page 337]] a home state determined pursuant to the law and regulations in effect prior to that date shall have that state as its home state. (2) A foreign bank that has any branches, agencies, commercial lending company subsidiaries, or subsidiary banks in one state, and has no such offices or subsidiaries in any other states, shall have as its home state the state in which such offices or subsidiaries are located. (b) Change of home state--(1) Prior notice. A foreign bank may change its home state once, if it files 30 days' prior notice of the proposed change with the Board. (2) Application to change home state. (i) A foreign bank, in addition to changing its home state by filing prior notice under paragraph (b)(1) of this section, may apply to the Board to change its home state, upon showing that a national bank or state-chartered bank with the same home state as the foreign bank would be permitted to change its home state to the new home state proposed by the foreign bank. (ii) A foreign bank may apply to the Board for such permission one or more times. (iii) In determining whether to grant the request of a foreign bank to change its home state, the Board shall consider whether the proposed change is consistent with competitive equity between foreign and domestic banks. (3) Effect of change in home state. The home state of a foreign bank and any change in its home state by a foreign bank shall not affect which Federal Reserve Bank or Reserve Banks supervise the operations of the foreign bank, and shall not affect the obligation of the foreign bank to file required reports and applications with the appropriate Federal Reserve Bank. (4) Conforming branches to new home state. Upon any change in home state by a foreign bank under paragraph (b)(1) or (b)(2) of this section, the domestic branches of the foreign bank established in reliance on any previous home state of the foreign bank shall be conformed to those which a foreign bank with the new home state could permissibly establish or operate as of the date of such change. (c) Prohibition against interstate deposit production offices. A covered interstate branch of a foreign bank may not be used as a deposit production office in accordance with the provisions in Sec. 208.7 of Regulation H (12 CFR 208.7). Sec. 211.23 Nonbanking activities of foreign banking organizations. (a) Qualifying foreign banking organizations. Unless specifically made eligible for the exemptions by the Board, a foreign banking organization shall qualify for the exemptions afforded by this section only if, disregarding its United States banking, more than half of its worldwide business is banking; and more than half of its banking business is outside the United States. \10\ In order to qualify, a foreign banking organization shall: --------------------------------------------------------------------------- \10\ None of the assets, revenues, or net income, whether held or derived directly or indirectly, of a subsidiary bank, branch, agency, commercial lending company, or other company engaged in the business of banking in the United States (including any territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands) shall be considered held or derived from the business of banking ``outside the United States''. --------------------------------------------------------------------------- (1) Meet at least two of the following requirements: (i) Banking assets held outside the United States exceed total worldwide nonbanking assets; (ii) Revenues derived from the business of banking outside the United States exceed total revenues derived from its worldwide nonbanking business; or (iii) Net income derived from the business of banking outside the United States exceeds total net income derived from its worldwide nonbanking business; and (2) Meet at least two of the following requirements: (i) Banking assets held outside the United States exceed banking assets held in the United States; (ii) Revenues derived from the business of banking outside the United States exceed revenues derived from the business of banking in the United States; or (iii) Net income derived from the business of banking outside the United States exceeds net income derived from [[Page 338]] the business of banking in the United States. (b) Determining assets, revenues, and net income. (1)(i) For purposes of paragraph (a) of this section, the total assets, revenues, and net income of an organization may be determined on a consolidated or combined basis. (ii) The foreign banking organization shall include assets, revenues, and net income of companies in which it owns 50 percent or more of the voting shares when determining total assets, revenues, and net income. (iii) The foreign banking organization may include assets, revenues, and net income of companies in which it owns 25 percent or more of the voting shares, if all such companies within the organization are included. (2) Assets devoted to, or revenues or net income derived from, activities listed in Sec. 211.10(a) shall be considered banking assets, or revenues or net income derived from the banking business, when conducted within the foreign banking organization by a foreign bank or its subsidiaries. (c) Limited exemptions available to foreign banking organizations in certain circumstances. The following shall apply where a foreign bank meets the requirements of paragraph (a) of this section but its ultimate parent does not: (1) Such foreign bank shall be entitled to the exemptions available to a qualifying foreign banking organization if its ultimate parent meets the requirements set forth in paragraph (a)(2) of this section and could meet the requirements in paragraph (a)(1) of this section but for the requirement in paragraph (b)(2) of this section that activities must be conducted by the foreign bank or its subsidiaries in order to be considered derived from the banking business; (2) An ultimate parent as described in paragraph (c)(1) of this section shall be eligible for the exemptions available to a qualifying foreign banking organization except for those provided in Sec. 211.23(f)(5)(iii). (d) Loss of eligibility for exemptions--(1) Failure to meet qualifying test. A foreign banking organization that qualified under paragraph (a) or (c) of this section shall cease to be eligible for the exemptions of this section if it fails to meet the requirements of paragraphs (a) or (c) of this section for two consecutive years, as reflected in its annual reports (FR Y-7) filed with the Board. (2) Continuing activities and investments. (i) A foreign banking organization that ceases to be eligible for the exemptions of this section may continue to engage in activities or retain investments commenced or acquired prior to the end of the first fiscal year for which its annual report reflects nonconformance with paragraph (a) or (c) of this section. (ii) Termination or divestiture. Activities commenced or investments made after that date shall be terminated or divested within three months of the filing of the second annual report, or at such time as the Board may determine upon request by the foreign banking organization to extend the period, unless the Board grants consent to continue the activity or retain the investment under paragraph (e) of this section. (3) Request for specific determination of eligibility. (i) A foreign banking organization that ceases to qualify under paragraph (a) or (c) of this section, or an affiliate of such foreign banking organization, that requests a specific determination of eligibility under paragraph (e) of this section may, prior to the Board's determination on eligibility, continue to engage in activities and make investments under the provisions of paragraphs (f)(1), (2), (3), and (4) of this section. (ii) The Board may grant consent for the foreign banking organization or its affiliate to make investments under paragraph (f)(5) of this section. (e) Specific determination of eligibility for organizations that do not qualify for the exemptions--(1) Application. (i) A foreign organization that is not a foreign banking organization or a foreign banking organization that does not qualify under paragraph (a) or (c) of this section for some or all of the exemptions afforded by this section, or that has lost its eligibility for the exemptions under paragraph (d) of this section, may apply to the Board for a specific determination of eligibility for some or all of the exemptions. [[Page 339]] (ii) A foreign banking organization may apply for a specific determination prior to the time it ceases to be eligible for the exemptions afforded by this section. (2) Factors considered by Board. In determining whether eligibility for the exemptions would be consistent with the purposes of the BHC Act and in the public interest, the Board shall consider: (i) The history and the financial and managerial resources of the foreign organization or foreign banking organization; (ii) The amount of its business in the United States; (iii) The amount, type, and location of its nonbanking activities, including whether such activities may be conducted by U.S. banks or bank holding companies; (iv) Whether eligibility of the foreign organization or foreign banking organization would result in undue concentration of resources, decreased or unfair competition, conflicts of interests, or unsound banking practices; and (v) The extent to which the foreign banking organization is subject to comprehensive supervision or regulation on a consolidated basis or the foreign organization is subject to oversight by regulatory authorities in its home country. (3) Conditions and limitations. The Board may impose any conditions and limitations on a determination of eligibility, including requirements to cease activities or dispose of investments. (4) Eligibility not granted. Determinations of eligibility generally would not be granted where a majority of the business of the foreign organization or foreign banking organization derives from commercial or industrial activities. (f) Permissible activities and investments. A foreign banking organization that qualifies under paragraph (a) of this section may: (1) Engage in activities of any kind outside the United States; (2) Engage directly in activities in the United States that are incidental to its activities outside the United States; (3) Own or control voting shares of any company that is not engaged, directly or indirectly, in any activities in the United States, other than those that are incidental to the international or foreign business of such company; (4) Own or control voting shares of any company in a fiduciary capacity under circumstances that would entitle such shareholding to an exemption under section 4(c)(4) of the BHC Act (12 U.S.C. 1843(c)(4)) if the shares were held or acquired by a bank; (5) Own or control voting shares of a foreign company that is engaged directly or indirectly in business in the United States other than that which is incidental to its international or foreign business, subject to the following limitations: (i) More than 50 percent of the foreign company's consolidated assets shall be located, and consolidated revenues derived from, outside the United States; provided that, if the foreign company fails to meet the requirements of this paragraph (f)(5)(i) for two consecutive years (as reflected in annual reports (FR Y-7) filed with the Board by the foreign banking organization), the foreign company shall be divested or its activities terminated within one year of the filing of the second consecutive annual report that reflects nonconformance with the requirements of this paragraph (f)(5)(i), unless the Board grants consent to retain the investment under paragraph (g) of this section; (ii) The foreign company shall not directly underwrite, sell, or distribute, nor own or control more than 10 percent of the voting shares of a company that underwrites, sells, or distributes securities in the United States, except to the extent permitted bank holding companies; (iii) If the foreign company is a subsidiary of the foreign banking organization, the foreign company must be, or must control, an operating company, and its direct or indirect activities in the United States shall be subject to the following limitations: (A) The foreign company's activities in the United States shall be the same kind of activities, or related to the activities, engaged in directly or indirectly by the foreign company abroad, as measured by the ``establishment'' categories of the Standard Industrial [[Page 340]] Classification (SIC). An activity in the United States shall be considered related to an activity outside the United States if it consists of supply, distribution, or sales in furtherance of the activity; (B) The foreign company may engage in activities in the United States that consist of banking, securities, insurance, or other financial operations, or types of activities permitted by regulation or order under section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)), only under regulations of the Board or with the prior approval of the Board, subject to the following; (1) Activities within Division H (Finance, Insurance, and Real Estate) of the SIC shall be considered banking or financial operations for this purpose, with the exception of acting as operators of nonresidential buildings (SIC 6512), operators of apartment buildings (SIC 6513), operators of dwellings other than apartment buildings (SIC 6514), and operators of residential mobile home sites (SIC 6515); and operating title abstract offices (SIC 6541); and (2) The following activities shall be considered financial activities and may be engaged in only with the approval of the Board under paragraph (g) of this section: credit reporting services (SIC 7323); computer and data processing services (SIC 7371, 7372, 7373, 7374, 7375, 7376, 7377, 7378, and 7379); armored car services (SIC 7381); management consulting (SIC 8732, 8741, 8742, and 8748); certain rental and leasing activities (SIC 4741, 7352, 7353, 7359, 7513, 7514, 7515, and 7519); accounting, auditing, and bookkeeping services (SIC 8721); courier services (SIC 4215 and 4513); and arrangement of passenger transportation (SIC 4724, 4725, and 4729). (g) Exemptions under section 4(c)(9) of the BHC Act. A foreign banking organization that is of the opinion that other activities or investments may, in particular circumstances, meet the conditions for an exemption under section 4(c)(9) of the BHC Act (12 U.S.C. 1843(c)(9)) may apply to the Board for such a determination by submitting to the appropriate Federal Reserve Bank a letter setting forth the basis for that opinion. (h) Reports. The foreign banking organization shall report in a manner prescribed by the Board any direct activities in the United States by a foreign subsidiary of the foreign banking organization and the acquisition of all shares of companies engaged, directly or indirectly, in activities in the United States that were acquired under the authority of this section. (i) Availability of information. If any information required under this section is unknown and not reasonably available to the foreign banking organization (either because obtaining it would involve unreasonable effort or expense, or because it rests exclusively within the knowledge of a company that is not controlled by the organization) the organization shall: (1) Give such information on the subject as it possesses or can reasonably acquire, together with the sources thereof; and (2) Include a statement showing that unreasonable effort or expense would be involved, or indicating that the company whose shares were acquired is not controlled by the organization, and stating the result of a request for information. Sec. 211.24 Approval of offices of foreign banks; procedures for applications; standards for approval; representative office activities and standards for approval; preservation of existing authority. (a) Board approval of offices of foreign banks--(1) Prior Board approval of branches, agencies, commercial lending companies, or representative offices of foreign banks. (i) Except as otherwise provided in paragraphs (a)(2) and (a)(3) of this section, a foreign bank shall obtain the approval of the Board before it: (A) Establishes a branch, agency, commercial lending company subsidiary, or representative office in the United States; or (B) Acquires ownership or control of a commercial lending company subsidiary. (2) Prior notice for certain offices. (i) After providing 45 days' prior written notice to the Board, a foreign bank may establish: (A) An additional office (other than a domestic branch outside the home state of the foreign bank established pursuant to section 5(a)(3) of the IBA [[Page 341]] (12 U.S.C. 3103(a)(3))), provided that the Board has previously determined the foreign bank to be subject to comprehensive supervision or regulation on a consolidated basis by its home country supervisor (comprehensive consolidated supervision or CCS); or (B) A representative office, if: (1) The Board has not yet determined the foreign bank to be subject to consolidated comprehensive supervision, but the foreign bank is subject to the BHC Act, either directly or through section 8(a) of the IBA (12 U.S.C. 3106(a)); or (2) The Board previously has approved an application by the foreign bank to establish a branch or agency pursuant to the standard set forth in paragraph (c)(1)(iii) of this section; or (3) The Board previously has approved an application by the foreign bank to establish a representative office. (ii) The Board may waive the 45-day notice period if it finds that immediate action is required by the circumstances presented. The notice period shall commence at the time the notice is received by the appropriate Federal Reserve Bank. The Board may suspend the period or require Board approval prior to the establishment of such office if the notification raises significant policy or supervisory concerns. (3) General consent for certain representative offices. (i) The Board grants its general consent for a foreign bank that is subject to the BHC Act, either directly or through section 8(a) of the IBA (12 U.S.C. 3106(a)), to establish: (A) A representative office, but only if the Board has previously determined that the foreign bank proposing to establish a representative office is subject to consolidated comprehensive supervision; (B) A regional administrative office; or (C) An office that solely engages in limited administrative functions (such as separately maintaining back-office support systems) that: (1) Are clearly defined; (2) Are performed in connection with the U.S. banking activities of the foreign bank; and (3) Do not involve contact or liaison with customers or potential customers, beyond incidental contact with existing customers relating to administrative matters (such as verification or correction of account information). (4) Suspension of general consent or prior notice procedures. The Board may, at any time, upon notice, modify or suspend the prior notice and general consent procedures in paragraphs (a)(2) and (3) of this section for any foreign bank with respect to the establishment by such foreign bank of any U.S. office of such foreign bank. (5) Temporary offices. The Board may, in its discretion, determine that a foreign bank has not established an office if the foreign bank temporarily operates at one or more additional locations in the same city of an existing branch or agency due to renovations, an expansion of activities, a merger or consolidation of the operations of affiliated foreign banks or companies, or other similar circumstances. The foreign bank must provide reasonable advance notice of its intent temporarily to utilize additional locations, and the Board may impose such conditions in connection with its determination as it deems necessary. (6) After-the-fact Board approval. Where a foreign bank proposes to establish an office in the United States through the acquisition of, or merger or consolidation with, another foreign bank with an office in the United States, the Board may, in its discretion, allow the acquisition, merger, or consolidation to proceed before an application to establish the office has been filed or acted upon under this section if: (i) The foreign bank or banks resulting from the acquisition, merger, or consolidation, will not directly or indirectly own or control more than 5 percent of any class of the voting securities of, or control, a U.S. bank; (ii) The Board is given reasonable advance notice of the proposed acquisition, merger, or consolidation; and (iii) Prior to consummation of the acquisition, merger, or consolidation, each foreign bank, as appropriate, commits in writing either: (A) To comply with the procedures for an application under this section within a reasonable period of time; to engage in no new lines of business, or [[Page 342]] otherwise to expand its U.S. activities until the disposition of the application; and to abide by the Board's decision on the application, including, if necessary, a decision to terminate the activities of any such U.S. office, as the Board or the Comptroller may require; or (B) Promptly to wind-down and close any office, the establishment of which would have required an application under this section; and to engage in no new lines of business or otherwise to expand its U.S. activities prior to the closure of such office. (7) Notice of change in ownership or control or conversion of existing office or establishment of representative office under general- consent authority. A foreign bank with a U.S. office shall notify the Board in writing within 10 days of the occurrence of any of the following events: (i) A change in the foreign bank's ownership or control, where the foreign bank is acquired or controlled by another foreign bank or company and the acquired foreign bank with a U.S. office continues to operate in the same corporate form as prior to the change in ownership or control; (ii) The conversion of a branch to an agency or representative office; an agency to a representative office; or a branch or agency from a federal to a state license, or a state to a federal license; or (iii) The establishment of a representative office under general- consent authority. (8) Transactions subject to approval under Regulation Y. Subpart B of Regulation Y (12 CFR 225.11-225.17) governs the acquisition by a foreign banking organization of direct or indirect ownership or control of any voting securities of a bank or bank holding company in the United States if the acquisition results in the foreign banking organization's ownership or control of more than 5 percent of any class of voting securities of a U.S. bank or bank holding company, including through acquisition of a foreign bank or foreign banking organization that owns or controls more than 5 percent of any class of the voting securities of a U.S. bank or bank holding company. (b) Procedures for application--(1) Filing application. An application for the Board's approval pursuant to this section shall be filed in the manner prescribed by the Board. (2) Publication requirement--(i) Newspaper notice. Except with respect to a proposed transaction where more extensive notice is required by statute or as otherwise provided in paragraphs (b)(2)(ii) and (iii) of this section, an applicant under this section shall publish a notice in a newspaper of general circulation in the community in which the applicant proposes to engage in business. (ii) Contents of notice. The newspaper notice shall: (A) State that an application is being filed as of the date of the newspaper notice; and (B) Provide the name of the applicant, the subject matter of the application, the place where comments should be sent, and the date by which comments are due, pursuant to paragraph (b)(3) of this section. (iii) Copy of notice with application. The applicant shall furnish with its application to the Board a copy of the newspaper notice, the date of its publication, and the name and address of the newspaper in which it was published. (iv) Exception. The Board may modify the publication requirement of paragraphs (b)(2)(i) and (ii) of this section in appropriate circumstances. (v) Federal branch or federal agency. In the case of an application to establish a federal branch or federal agency, compliance with the publication procedures of the Comptroller shall satisfy the publication requirement of this section. Comments regarding the application should be sent to the Board and the Comptroller. (3) Written comments. (i) Within 30 days after publication, as required in paragraph (b)(2) of this section, any person may submit to the Board written comments and data on an application. (ii) The Board may extend the 30-day comment period if the Board determines that additional relevant information is likely to be provided by interested persons, or if other extenuating circumstances exist. (4) Board action on application--(i) Time limits. (A) The Board shall act on [[Page 343]] an application from a foreign bank to establish a branch, agency, or commercial lending company subsidiary within 180 calendar days after the receipt of the application. (B) The Board may extend for an additional 180 calendar days the period within which to take final action, after providing notice of and reasons for the extension to the applicant and the licensing authority. (C) The time periods set forth in this paragraph (b)(4)(i) may be waived by the applicant. (ii) Additional information. The Board may request any information in addition to that supplied in the application when the Board believes that the information is necessary for its decision, and may deny an application if it does not receive the information requested from the applicant or its home country supervisor in sufficient time to permit adequate evaluation of the information within the time periods set forth in paragraph (b)(4)(i) of this section. (5) Coordination with other regulators. Upon receipt of an application by a foreign bank under this section, the Board shall promptly notify, consult with, and consider the views of the licensing authority. (c) Standards for approval of U.S. offices of foreign banks--(1) Mandatory standards--(i) General. As specified in section 7(d) of the IBA (12 U.S.C. 3105(d)), the Board may not approve an application to establish a branch or an agency, or to establish or acquire ownership or control of a commercial lending company, unless it determines that: (A) Each of the foreign bank and any parent foreign bank engages directly in the business of banking outside the United States and, except as provided in paragraph (c)(1)(iii) of this section, is subject to comprehensive supervision or regulation on a consolidated basis by its home country supervisor; and (B) The foreign bank has furnished to the Board the information that the Board requires in order to assess the application adequately. (ii) Basis for determining comprehensive consolidated supervision. In determining whether a foreign bank and any parent foreign bank is subject to comprehensive consolidated supervision, the Board shall determine whether the foreign bank is supervised or regulated in such a manner that its home country supervisor receives sufficient information on the worldwide operations of the foreign bank (including the relationships of the bank to any affiliate) to assess the foreign bank's overall financial condition and compliance with law and regulation. In making such a determination, the Board shall assess, among other factors, the extent to which the home country supervisor: (A) Ensures that the foreign bank has adequate procedures for monitoring and controlling its activities worldwide; (B) Obtains information on the condition of the foreign bank and its subsidiaries and offices outside the home country through regular reports of examination, audit reports, or otherwise; (C) Obtains information on the dealings and relationship between the foreign bank and its affiliates, both foreign and domestic; (D) Receives from the foreign bank financial reports that are consolidated on a worldwide basis, or comparable information that permits analysis of the foreign bank's financial condition on a worldwide, consolidated basis; (E) Evaluates prudential standards, such as capital adequacy and risk asset exposure, on a worldwide basis. (iii) Determination of comprehensive consolidated supervision not required in certain circumstances. (A) If the Board is unable to find, under paragraph (c)(1)(i) of this section, that a foreign bank is subject to comprehensive consolidated supervision, the Board may, nevertheless, approve an application by the foreign bank if: (1) The home country supervisor is actively working to establish arrangements for the consolidated supervision of such bank; and (2) All other factors are consistent with approval. (B) In deciding whether to use its discretion under this paragraph (c)(1)(iii), the Board also shall consider whether the foreign bank has adopted and implemented procedures to combat money laundering. The Board also may take into account whether the home country supervisor is developing a [[Page 344]] legal regime to address money laundering or is participating in multilateral efforts to combat money laundering. In approving an application under this paragraph (c)(1)(iii), the Board, after requesting and taking into consideration the views of the licensing authority, may impose any conditions or restrictions relating to the activities or business operations of the proposed branch, agency, or commercial lending company subsidiary, including restrictions on sources of funding. The Board shall coordinate with the licensing authority in the implementation of such conditions or restrictions. (2) Additional standards. In acting on any application under this subpart, the Board may take into account: (i) Consent of home country supervisor. Whether the home country supervisor of the foreign bank has consented to the proposed establishment of the branch, agency, or commercial lending company subsidiary; (ii) Financial resources. The financial resources of the foreign bank (including the foreign bank's capital position, projected capital position, profitability, level of indebtedness, and future prospects) and the condition of any U.S. office of the foreign bank; (iii) Managerial resources. The managerial resources of the foreign bank, including the competence, experience, and integrity of the officers and directors; the integrity of its principal shareholders; management's experience and capacity to engage in international banking; and the record of the foreign bank and its management of complying with laws and regulations, and of fulfilling any commitments to, and any conditions imposed by, the Board in connection with any prior application; (iv) Sharing information with supervisors. Whether the foreign bank's home country supervisor and the home country supervisor of any parent of the foreign bank share material information regarding the operations of the foreign bank with other supervisory authorities; (v) Assurances to Board. (A) Whether the foreign bank has provided the Board with adequate assurances that information will be made available to the Board on the operations or activities of the foreign bank and any of its affiliates that the Board deems necessary to determine and enforce compliance with the IBA, the BHC Act, and other applicable federal banking statutes. (B) These assurances shall include a statement from the foreign bank describing the laws that would restrict the foreign bank or any of its parents from providing information to the Board; (vi) Measures for prevention of money laundering. Whether the foreign bank has adopted and implemented procedures to combat money laundering, whether there is a legal regime in place in the home country to address money laundering, and whether the home country is participating in multilateral efforts to combat money laundering; (vii) Compliance with U.S. law. Whether the foreign bank and its U.S. affiliates are in compliance with applicable U.S. law, and whether the applicant has established adequate controls and procedures in each of its offices to ensure continuing compliance with U.S. law, including controls directed to detection of money laundering and other unsafe or unsound banking practices; and (viii) The needs of the community and the history of operation of the foreign bank and its relative size in its home country, provided that the size of the foreign bank is not the sole factor in determining whether an office of a foreign bank should be approved. (3) Additional standards for certain interstate applications. (i) As specified in section 5(a)(3) of the IBA (12 U.S.C. 3103(a)(3)), the Board may not approve an application by a foreign bank to establish a branch, other than a limited branch, outside the home state of the foreign bank under section 5(a)(1) or (2) of the IBA (12 U.S.C. 3103(a)(1), (2)) unless the Board: (A) Determines that the foreign bank's financial resources, including the capital level of the bank, are equivalent to those required for a domestic bank to be approved for branching under section 5155 of the Revised Statutes (12 U.S.C. 36) and section 44 of the Federal Deposit Insurance Act (FDIA) (12 U.S.C. 1831u); (B) Consults with the Department of the Treasury regarding capital equivalency; [[Page 345]] (C) Applies the standards specified in section 7(d) of the IBA (12 U.S.C. 3105(d)) and this paragraph (c); and (D) Applies the same requirements and conditions to which an application by a domestic bank for an interstate merger is subject under section 44(b)(1), (3), and (4) of the FDIA (12 U.S.C. 1831u(b)(1), (3), (4)); and (ii) As specified in section 5(a)(7) of the IBA (12 U.S.C. 3103(a)(7)), the Board may not approve an application to establish a branch through a change in status of an agency or limited branch outside the foreign bank's home state unless: (A) The establishment and operation of such branch is permitted by such state; and (B) Such agency or branch has been in operation in such state for a period of time that meets the state's minimum age requirement permitted under section 44(a)(5) of the Federal Deposit Insurance Act (12 U.S.C. 183u(a)(5)). (4) Board conditions on approval. The Board may impose any conditions on its approval as it deems necessary, including a condition which may permit future termination by the Board of any activities or, in the case of a federal branch or a federal agency, by the Comptroller, based on the inability of the foreign bank to provide information on its activities or those of its affiliates that the Board deems necessary to determine and enforce compliance with U.S. banking laws. (d) Representative offices--(1) Permissible activities. A representative office may engage in: (i) Representational and administrative functions. Representational and administrative functions in connection with the banking activities of the foreign bank, which may include soliciting new business for the foreign bank; conducting research; acting as liaison between the foreign bank's head office and customers in the United States; performing preliminary and servicing steps in connection with lending; \11\ or performing back-office functions; but shall not include contracting for any deposit or deposit-like liability, lending money, or engaging in any other banking activity for the foreign bank; --------------------------------------------------------------------------- \11\ See 12 CFR 250.141(h) for activities that constitute preliminary and servicing steps. --------------------------------------------------------------------------- (ii) Credit approvals under certain circumstances. Making credit decisions if the foreign bank also operates one or more branches or agencies in the United States, the loans approved at the representative office are made by a U.S. office of the bank, and the loan proceeds are not disbursed in the representative office; and (iii) Other functions. Other functions for or on behalf of the foreign bank or its affiliates, such as operating as a regional administrative office of the foreign bank, but only to the extent that these other functions are not banking activities and are not prohibited by applicable federal or state law, or by ruling or order of the Board. (2) Standards for approval of representative offices. As specified in section 10(a)(2) of the IBA (12 U.S.C. 3107(a)(2)), in acting on the application of a foreign bank to establish a representative office, the Board shall take into account, to the extent it deems appropriate, the standards for approval set out in paragraph (c) of this section. The standard regarding supervision by the foreign bank's home country supervisor (as set out in paragraph (c)(1)(i)(A) of this section) will be met, in the case of a representative office application, if the Board makes a finding that the applicant bank is subject to a supervisory framework that is consistent with the activities of the proposed representative office, taking into account the nature of such activities and the operating record of the applicant. (3) Special-purpose foreign government-owned banks. A foreign government-owned organization engaged in banking activities in its home country that are not commercial in nature may apply to the Board for a determination that the organization is not a foreign bank for purposes of this section. A written request setting forth the basis for such a determination may be submitted to the Reserve Bank of the District in which the foreign organization's representative office is located in the United States, or to the Board, in the case of [[Page 346]] a proposed establishment of a representative office. The Board shall review and act upon each request on a case-by-case basis. (4) Additional requirements. The Board may impose any additional requirements that it determines to be necessary to carry out the purposes of the IBA. (e) Preservation of existing authority. Nothing in this subpart shall be construed to relieve any foreign bank or foreign banking organization from any otherwise applicable requirement of federal or state law, including any applicable licensing requirement. (f) Reports of crimes and suspected crimes. Except for a federal branch or a federal agency or a state branch that is insured by the Federal Deposit Insurance Corporation (FDIC), a branch, agency, or representative office of a foreign bank operating in the United States shall file a suspicious activity report in accordance with the provisions of Sec. 208.62 of Regulation H (12 CFR 208.62). (g) Management of shell branches. (1) A state-licensed branch or agency shall not manage, through an office of the foreign bank which is located outside the United States and is managed or controlled by such state-licensed branch or agency, any type of activity that a bank organized under the laws of the United States or any state is not permitted to manage at any branch or subsidiary of such bank which is located outside the United States. (2) For purposes of this paragraph (g), an office of a foreign bank located outside the United States is ``managed or controlled'' by a state-licensed branch or agency if a majority of the responsibility for business decisions, including but not limited to decisions with regard to lending or asset management or funding or liability management, or the responsibility for recordkeeping in respect of assets or liabilities for that non-U.S. office, resides at the state-licensed branch or agency. (3) The types of activities that a state-licensed branch or agency may manage through an office located outside the United States that it manage or controls include the types of activities authorized to a U.S. bank by state or federal charters, regulations issued by chartering or regulatory authorities, and other U.S. banking laws, including the Federal Reserve Act, and the implementing regulations, but U.S. procedural or quantitative requirements that may be applicable to the conduct of such activities by U.S. banks shall not apply. (h) Government securities sales practices. An uninsured state- licensed branch or agency of a foreign bank that is required to give notice to the Board under section 15C of the Securities Exchange Act of 1934 (15 U.S.C. 78o-5) and the Department of the Treasury rules under section 15C (17 CFR 400.1(d) and part 401) shall be subject to the provisions of 12 CFR 208.37 to the same extent as a state member bank that is required to give such notice. (i) Protection of customer information and consumer information. An uninsured state-licensed branch or agency of a foreign bank shall comply with the Interagency Guidelines Establishing Information Security Standards prescribed pursuant to sections 501 and 505 of the Gramm- Leach-Bliley Act (15 U.S.C. 6801 and 6805) and, with respect to the proper disposal of consumer information, section 216 of the Fair and Accurate Credit Transactions Act of 2003 (15 U.S.C. 1681w), set forth in appendix D-2 to part 208 of this chapter. (j) Procedures for monitoring Bank Secrecy Act compliance--(1) Establishment of Compliance Program. Except for a Federal branch or a Federal agency or a state branch that is insured by the FDIC, a branch, agency, or representative office of a foreign bank operating in the United States shall, in accordance with the provisions of Sec. 208.63 of the Board's Regulation H, 12 CFR 208.63, develop and provide for the continued administration of a program reasonably designed to assure and monitor compliance with the provisions of subchapter II of chapter 53 of title 31, United States Code, the Bank Secrecy Act, and the implementing regulations promulgated thereunder by the Department of the Treasury at 31 CFR part 103. The compliance program shall be reduced to writing, and either: (i) Approved by the foreign bank's board of directors and noted in the minutes, or [[Page 347]] (ii) Approved by a delegee acting under the express authority of the board of directors to approve the Bank Secrecy Act compliance program. (2) Customer identification program. Except for a federal branch or a federal agency or a state branch that is insured by the FDIC, a branch, agency, or representative office of a foreign bank operating in the United States is subject to the requirements of 31 U.S.C. 5318(l) and the implementing regulation jointly promulgated by the Board and the Department of the Treasury at 31 CFR 103.121, which require a customer identification program. [66 FR 53474, Oct. 26, 2001, as amended at 68 FR 35112, May 9, 2003; 69 FR 77618, Dec. 28, 2004; 71 FR 13936, Mar. 20, 2006; 75 FR 44692, July 28, 2010; 84 FR 21692, May 15, 2019] Sec. 211.25 Termination of offices of foreign banks. (a) Grounds for termination--(1) General. Under sections 7(e) and 10(b) of the IBA (12 U.S.C. 3105(d), 3107(b)), the Board may order a foreign bank to terminate the activities of its representative office, state branch, state agency, or commercial lending company subsidiary if the Board finds that: (i) The foreign bank is not subject to comprehensive consolidated supervision in accordance with Sec. 211.24(c)(1), and the home country supervisor is not making demonstrable progress in establishing arrangements for the consolidated supervision of the foreign bank; or (ii) Both of the following criteria are met: (A) There is reasonable cause to believe that the foreign bank, or any of its affiliates, has committed a violation of law or engaged in an unsafe or unsound banking practice in the United States; and (B) As a result of such violation or practice, the continued operation of the foreign bank's representative office, state branch, state agency, or commercial lending company subsidiary would not be consistent with the public interest, or with the purposes of the IBA, the BHC Act, or the FDIA. (2) Additional ground. The Board also may enforce any condition imposed in connection with an order issued under Sec. 211.24. (b) Factor. In making its findings under this section, the Board may take into account the needs of the community, the history of operation of the foreign bank, and its relative size in its home country, provided that the size of the foreign bank shall not be the sole determining factor in a decision to terminate an office. (c) Consultation with relevant state supervisor. Except in the case of termination pursuant to the expedited procedure in paragraph (d)(3) of this section, the Board shall request and consider the views of the relevant state supervisor before issuing an order terminating the activities of a state branch, state agency, representative office, or commercial lending company subsidiary under this section. (d) Termination procedures--(1) Notice and hearing. Except as otherwise provided in paragraph (d)(3) of this section, an order issued under paragraph (a)(1) of this section shall be issued only after notice to the relevant state supervisor and the foreign bank and after an opportunity for a hearing. (2) Procedures for hearing. Hearings under this section shall be conducted pursuant to the Board's Rules of Practice for Hearings (12 CFR part 263). (3) Expedited procedure. The Board may act without providing an opportunity for a hearing, if it determines that expeditious action is necessary in order to protect the public interest. When the Board finds that it is necessary to act without providing an opportunity for a hearing, the Board, solely in its discretion, may: (i) Provide the foreign bank that is the subject of the termination order with notice of the intended termination order; (ii) Grant the foreign bank an opportunity to present a written submission opposing issuance of the order; or (iii) Take any other action designed to provide the foreign bank with notice and an opportunity to present its views concerning the order. (e) Termination of federal branch or federal agency. The Board may transmit to the Comptroller a recommendation that the license of a federal branch or federal agency be terminated if the [[Page 348]] Board has reasonable cause to believe that the foreign bank or any affiliate of the foreign bank has engaged in conduct for which the activities of a state branch or state agency may be terminated pursuant to this section. (f) Voluntary termination. A foreign bank shall notify the Board at least 30 days prior to terminating the activities of any office. Notice pursuant to this paragraph (f) is in addition to, and does not satisfy, any other federal or state requirements relating to the termination of an office or the requirement for prior notice of the closing of a branch, pursuant to section 39 of the FDIA (12 U.S.C. 1831p). Sec. 211.26 Examination of offices and affiliates of foreign banks. (a) Conduct of examinations--(1) Examination of branches, agencies, commercial lending companies, and affiliates. The Board may examine: (i) Any branch or agency of a foreign bank; (ii) Any commercial lending company or bank controlled by one or more foreign banks, or one or more foreign companies that control a foreign bank; and (iii) Any other office or affiliate of a foreign bank conducting business in any state. (2) Examination of representative offices. The Board may examine any representative office in the manner and with the frequency it deems appropriate. (b) Coordination of examinations. To the extent possible, the Board shall coordinate its examinations of the U.S. offices and U.S. affiliates of a foreign bank with the licensing authority and, in the case of an insured branch, the Federal Deposit Insurance Corporation (FDIC), including through simultaneous examinations of the U.S. offices and U.S. affiliates of a foreign bank. (c) Frequency of on-site examination--(1) General. Each branch or agency of a foreign bank shall be examined on-site at least once during each 12-month period (beginning on the date the most recent examination of the office ended) by-- (i) The Board; (ii) The FDIC, if the branch of the foreign bank accepts or maintains insured deposits; (iii) The Comptroller, if the branch or agency of the foreign bank is licensed by the Comptroller; or (iv) The state supervisor, if the office of the foreign bank is licensed or chartered by the state. (2) 18-month cycle for certain small institutions--(i) Mandatory standards. The Board may conduct a full-scope, on-site examination at least once during each 18-month period, rather than each 12-month period as required in paragraph (c)(1) of this section, if the branch or agency-- (A) Has total assets of less than $3 billion; (B) Has received a composite ROCA supervisory rating (which rates risk management, operational controls, compliance, and asset quality) of 1 or 2 at its most recent examination; (C) Satisfies the requirement of either the following paragraph (c)(2)(i)(C)(1) or (2): (1) The foreign bank's most recently reported capital adequacy position consists of, or is equivalent to, tier 1 and total risk-based capital ratios of at least 6 percent and 10 percent, respectively, on a consolidated basis; or (2) The branch or agency has maintained on a daily basis, over the past three quarters, eligible assets in an amount not less than 108 percent of the preceding quarter's average third-party liabilities (determined consistent with applicable federal and state law) and sufficient liquidity is currently available to meet its obligations to third parties; (D) Is not subject to a formal enforcement action or order by the Board, FDIC, or OCC; and (E) Has not experienced a change in control during the preceding 12- month period in which a full-scope, on-site examination would have been required but for this section. (ii) Discretionary standards. In determining whether a branch or agency of a foreign bank that meets the standards of paragraph (c)(2)(i) of this section should not be eligible for an 18-month examination cycle pursuant to this paragraph (c)(2), the Board may [[Page 349]] consider additional factors, including whether-- (A) Any of the individual components of the ROCA supervisory rating of a branch or agency of a foreign bank is rated ``3'' or worse; (B) The results of any off-site surveillance indicate a deterioration in the condition of the office; (C) The size, relative importance, and role of a particular office when reviewed in the context of the foreign bank's entire U.S. operations otherwise necessitate an annual examination; and (D) The condition of the foreign bank gives rise to such a need. (iii)(A) Except as provided in paragraph (c)(2)(iii)(B) of this section, from December 2, 2020 through December 31, 2021, for purposes of determining eligibility for the extended examination cycle described in paragraph (c)(2) of this section, the total assets of a branch or agency shall be determined based on the lesser of: (1) The total assets of the branch or agency as of December 31, 2019; and (2) The total assets of the branch or agency as of the end of the most recent calendar quarter. (B) The relief provided under paragraph (c)(2)(iii)(A) of this section does not apply to a branch or agency if the Board determines that permitting the branch or agency to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the branch or agency. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the branch or agency since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the branch or agency has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the branch or agency. In making a determination pursuant to this paragraph (c)(2)(iii)(B), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (3) Authority to conduct more frequent examinations. Nothing in paragraphs (c)(1) and (2) of this section limits the authority of the Board to examine any U.S. branch or agency of a foreign bank as frequently as it deems necessary. [Reg. K, 66 FR 54374, Oct. 26, 2001, as amended at 72 FR 17802, Apr. 10, 2007; 81 FR 10069, Feb. 29, 2016; 83 FR 43965, Aug. 29, 2018; 85 FR 77360, Dec. 2, 2020] Sec. 211.27 Disclosure of supervisory information to foreign supervisors. (a) Disclosure by Board. The Board may disclose information obtained in the course of exercising its supervisory or examination authority to a foreign bank regulatory or supervisory authority, if the Board determines that disclosure is appropriate for bank supervisory or regulatory purposes and will not prejudice the interests of the United States. (b) Confidentiality. Before making any disclosure of information pursuant to paragraph (a) of this section, the Board shall obtain, to the extent necessary, the agreement of the foreign bank regulatory or supervisory authority to maintain the confidentiality of such information to the extent possible under applicable law. Sec. 211.28 Provisions applicable to branches and agencies: limitation on loans to one borrower. (a) Limitation on loans to one borrower. Except as provided in paragraph (b) of this section, the total loans and extensions of credit by all the state branches and state agencies of a foreign bank outstanding to a single borrower at one time shall be aggregated with the total loans and extensions of credit by all federal branches and federal agencies of the same foreign bank outstanding to such borrower at the time; and shall be subject to the limitations and other provisions of section 5200 of the Revised Statutes (12 U.S.C. 84), and the regulations promulgated thereunder, in the same manner that extensions of credit by a federal branch or federal agency are subject to section 4(b) of the IBA (12 U.S.C. 3102(b)) as if such state branches and state agencies were federal branches and federal agencies. (b) Preexisting loans and extensions of credit. Any loans or extensions of credit [[Page 350]] to a single borrower that were originated prior to December 19, 1991, by a state branch or state agency of the same foreign bank and that, when aggregated with loans and extensions of credit by all other branches and agencies of the foreign bank, exceed the limits set forth in paragraph (a) of this section, may be brought into compliance with such limitations through routine repayment, provided that any new loans or extensions of credit (including renewals of existing unfunded credit lines, or extensions of the maturities of existing loans) to the same borrower shall comply with the limits set forth in paragraph (a) of this section. Sec. 211.29 Applications by state branches and state agencies to conduct activities not permissible for federal branches. (a) Scope. A state branch or state agency shall file with the Board a prior written application for permission to engage in or continue to engage in any type of activity that: (1) Is not permissible for a federal branch, pursuant to statute, regulation, official bulletin or circular, or order or interpretation issued in writing by the Comptroller; or (2) Is rendered impermissible due to a subsequent change in statute, regulation, official bulletin or circular, written order or interpretation, or decision of a court of competent jurisdiction. (b) Exceptions. No application shall be required by a state branch or state agency to conduct any activity that is otherwise permissible under applicable state and federal law or regulation and that: (1) Has been determined by the FDIC, pursuant to 12 CFR 362.4(c)(3)(i) through (c)(3)(ii)(A), not to present a significant risk to the affected deposit insurance fund; (2) Is permissible for a federal branch, but the Comptroller imposes a quantitative limitation on the conduct of such activity by the federal branch; (3) Is conducted as agent rather than as principal, provided that the activity is one that could be conducted by a state-chartered bank headquartered in the same state in which the branch or agency is licensed; or (4) Any other activity that the Board has determined may be conducted by any state branch or state agency of a foreign bank without further application to the Board. (c) Contents of application. An application submitted pursuant to paragraph (a) of this section shall be in letter form and shall contain the following information: (1) A brief description of the activity, including the manner in which it will be conducted, and an estimate of the expected dollar volume associated with the activity; (2) An analysis of the impact of the proposed activity on the condition of the U.S. operations of the foreign bank in general, and of the branch or agency in particular, including a copy, if available, of any feasibility study, management plan, financial projections, business plan, or similar document concerning the conduct of the activity; (3) A resolution by the applicant's board of directors or, if a resolution is not required pursuant to the applicant's organizational documents, evidence of approval by senior management, authorizing the conduct of such activity and the filing of this application; (4) If the activity is to be conducted by a state branch insured by the FDIC, statements by the applicant: (i) Of whether or not it is in compliance with 12 CFR 346.19 (Pledge of Assets) and 12 CFR 346.20 (Asset Maintenance); (ii) That it has complied with all requirements of the FDIC concerning an application to conduct the activity and the status of the application, including a copy of the FDIC's disposition of such application, if available; and (iii) Explaining why the activity will pose no significant risk to the deposit insurance fund; and (5) Any other information that the Reserve Bank deems appropriate. (d) Factors considered in determination. (1) The Board shall consider the following factors in determining whether a proposed activity is consistent with sound banking practice: (i) The types of risks, if any, the activity poses to the U.S. operations of the foreign banking organization in [[Page 351]] general, and the branch or agency in particular; (ii) If the activity poses any such risks, the magnitude of each risk; and (iii) If a risk is not de minimis, the actual or proposed procedures to control and minimize the risk. (2) Each of the factors set forth in paragraph (d)(1) of this section shall be evaluated in light of the financial condition of the foreign bank in general and the branch or agency in particular and the volume of the activity. (e) Application procedures. Applications pursuant to this section shall be filed with the appropriate Federal Reserve Bank. An application shall not be deemed complete until it contains all the information requested by the Reserve Bank and has been accepted. Approval of such an application may be conditioned on the applicant's agreement to conduct the activity subject to specific conditions or limitations. (f) Divestiture or cessation. (1) If an application for permission to continue to conduct an activity is not approved by the Board or, if applicable, the FDIC, the applicant shall submit a detailed written plan of divestiture or cessation of the activity to the appropriate Federal Reserve Bank within 60 days of the disapproval. (i) The divestiture or cessation plan shall describe in detail the manner in which the applicant will divest itself of or cease the activity, and shall include a projected timetable describing how long the divestiture or cessation is expected to take. (ii) Divestiture or cessation shall be complete within one year from the date of the disapproval, or within such shorter period of time as the Board shall direct. (2) If a foreign bank operating a state branch or state agency chooses not to apply to the Board for permission to continue to conduct an activity that is not permissible for a federal branch, or which is rendered impermissible due to a subsequent change in statute, regulation, official bulletin or circular, written order or interpretation, or decision of a court of competent jurisdiction, the foreign bank shall submit a written plan of divestiture or cessation, in conformance with paragraph (f)(1) of this section within 60 days of the effective date of this part or of such change or decision. Sec. 211.30 Criteria for evaluating U.S. operations of foreign banks not subject to consolidated supervision. (a) Development and publication of criteria. Pursuant to the Foreign Bank Supervision Enhancement Act, Pub. L. 102-242, 105 Stat. 2286 (1991), the Board shall develop and publish criteria to be used in evaluating the operations of any foreign bank in the United States that the Board has determined is not subject to comprehensive consolidated supervision. (b) Criteria considered by Board. Following a determination by the Board that, having taken into account the standards set forth in Sec. 211.24(c)(1), a foreign bank is not subject to CCS, the Board shall consider the following criteria in determining whether the foreign bank's U.S. operations should be permitted to continue and, if so, whether any supervisory constraints should be placed upon the bank in connection with those operations: (1) The proportion of the foreign bank's total assets and total liabilities that are located or booked in its home country, as well as the distribution and location of its assets and liabilities that are located or booked elsewhere; (2) The extent to which the operations and assets of the foreign bank and any affiliates are subject to supervision by its home country supervisor; (3) Whether the home country supervisor of such foreign bank is actively working to establish arrangements for comprehensive consolidated supervision of the bank, and whether demonstrable progress is being made; (4) Whether the foreign bank has effective and reliable systems of internal controls and management information and reporting, which enable its management properly to oversee its worldwide operations; (5) Whether the foreign bank's home country supervisor has any objection to the bank continuing to operate in the United States; (6) Whether the foreign bank's home country supervisor and the home country supervisor of any parent of the foreign bank share material information regarding the operations of the foreign [[Page 352]] bank with other supervisory authorities; (7) The relationship of the U.S. operations to the other operations of the foreign bank, including whether the foreign bank maintains funds in its U.S. offices that are in excess of amounts due to its U.S. offices from the foreign bank's non-U.S. offices; (8) The soundness of the foreign bank's overall financial condition; (9) The managerial resources of the foreign bank, including the competence, experience, and integrity of the officers and directors, and the integrity of its principal shareholders; (10) The scope and frequency of external audits of the foreign bank; (11) The operating record of the foreign bank generally and its role in the banking system in its home country; (12) The foreign bank's record of compliance with relevant laws, as well as the adequacy of its anti-money-laundering controls and procedures, in respect of its worldwide operations; (13) The operating record of the U.S. offices of the foreign bank; (14) The views and recommendations of the Comptroller or the relevant state supervisors in those states in which the foreign bank has operations, as appropriate; (15) Whether the foreign bank, if requested, has provided the Board with adequate assurances that such information will be made available on the operations or activities of the foreign bank and any of its affiliates as the Board deems necessary to determine and enforce compliance with the IBA, the BHC Act, and other U.S. banking statutes; and (16) Any other information relevant to the safety and soundness of the U.S. operations of the foreign bank. (c) Restrictions on U.S. operations--(1) Terms of agreement. Any foreign bank that the Board determines is not subject to CCS may be required to enter into an agreement to conduct its U.S. operations subject to such restrictions as the Board, having considered the criteria set forth in paragraph (b) of this section, determines to be appropriate in order to ensure the safety and soundness of its U.S. operations. (2) Failure to enter into or comply with agreement. A foreign bank that is required by the Board to enter into an agreement pursuant to paragraph (c)(1) of this section and either fails to do so, or fails to comply with the terms of such agreement, may be subject to: (i) Enforcement action, in order to ensure safe and sound banking operations, under 12 U.S.C. 1818; or (ii) Termination or a recommendation for termination of its U.S. operations, under Sec. 211.25(a) and (e) and section (7)(e) of the IBA (12 U.S.C. 3105(e)). Subpart C_Export Trading Companies Source: Reg. K, 66 FR 54374, Oct. 26, 2001, unless otherwise noted. Sec. 211.31 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board of Governors of the Federal Reserve System (Board) under the authority of the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1841 et seq.), the Bank Export Services Act (title II, Pub. L. 97-290, 96 Stat. 1235 (1982)) (BESA), and the Export Trading Company Act Amendments of 1988 (title III, Pub. L. 100-418, 102 Stat. 1384 (1988)) (ETC Act Amendments). (b) Purpose and scope. This subpart is in furtherance of the purposes of the BHC Act, the BESA, and the ETC Act Amendments, the latter two statutes being designed to increase U.S. exports by encouraging investments and participation in export trading companies by bank holding companies and the specified investors. The provisions of this subpart apply to eligible investors as defined in this subpart. Sec. 211.32 Definitions. The definitions in Sec. Sec. 211.1 and 211.2 of subpart A apply to this subpart, subject to the following: (a) Appropriate Federal Reserve Bank has the same meaning as in Sec. 211.21(c). (b) Bank has the same meaning as in section 2(c) of the BHC Act (12 U.S.C. 1841(c)). (c) Company has the same meaning as in section 2(b) of the BHC Act (12 U.S.C. 1841(b)). (d) Eligible investors means: (1) Bank holding companies, as defined in section 2(a) of the BHC Act (12 U.S.C. 1841(a)); [[Page 353]] (2) Edge and agreement corporations that are subsidiaries of bank holding companies but are not subsidiaries of banks; (3) Banker's banks, as described in section 4(c)(14)(F)(iii) of the BHC Act (12 U.S.C. 1843(c)(14)(F)(iii)); and (4) Foreign banking organizations, as defined in Sec. 211.21(o). (e) Export trading company means a company that is exclusively engaged in activities related to international trade and, by engaging in one or more export trade services, derives: (1) At least one-third of its revenues in each consecutive four-year period from the export of, or from facilitating the export of, goods and services produced in the United States by persons other than the export trading company or its subsidiaries; and (2) More revenues in each four-year period from export activities as described in paragraph (e)(1) of this section than it derives from the import, or facilitating the import, into the United States of goods or services produced outside the United States. The four-year period within which to calculate revenues derived from its activities under this section shall be deemed to have commenced with the first fiscal year after the respective export trading company has been in operation for two years. (f) Revenues shall include net sales revenues from exporting, importing, or third-party trade in goods by the export trading company for its own account and gross revenues derived from all other activities of the export trading company. (g) Subsidiary has the same meaning as in section 2(d) of the BHC Act (12 U.S.C. 1841(d)). (h) Well capitalized has the same meaning as in Sec. 225.2(r) of Regulation Y (12 CFR 225.2(r)). (i) Well managed has the same meaning as in Sec. 225.2(s) of Regulation Y (12 CFR 225.2(s)). Sec. 211.33 Investments and extensions of credit. (a) Amount of investments. In accordance with the procedures of Sec. 211.34, an eligible investor may invest no more than 5 percent of its consolidated capital and surplus in one or more export trading companies, except that an Edge or agreement corporation not engaged in banking may invest as much as 25 percent of its consolidated capital and surplus but no more than 5 percent of the consolidated capital and surplus of its parent bank holding company. (b) Extensions of credit--(1) Amount. An eligible investor in an export trading company or companies may extend credit directly or indirectly to the export trading company or companies in a total amount that at no time exceeds 10 percent of the investor's consolidated capital and surplus. (2) Terms. (i) An eligible investor in an export trading company may not extend credit directly or indirectly to the export trading company or any of its customers or to any other investor holding 10 percent or more of the shares of the export trading company on terms more favorable than those afforded similar borrowers in similar circumstances, and such extensions of credit shall not involve more than the normal risk of repayment or present other unfavorable features. (ii) For the purposes of this section, an investor in an export trading company includes any affiliate of the investor. (3) Collateral requirements. Covered transactions between a bank and an affiliated export trading company in which a bank holding company has invested pursuant to this subpart are subject to the collateral requirements of section 23A of the Federal Reserve Act (12 U.S.C. 371c), except where a bank issues a letter of credit or advances funds to an affiliated export trading company solely to finance the purchase of goods for which: (i) The export trading company has a bona fide contract for the subsequent sale of the goods; and (ii) The bank has a security interest in the goods or in the proceeds from their sale at least equal in value to the letter of credit or the advance. Sec. 211.34 Procedures for filing and processing notices. (a) General policy. Direct and indirect investments by eligible investors in export trading companies shall be made in accordance with the general consent or prior notice procedures contained in [[Page 354]] this section. The Board may at any time, upon notice, modify or suspend the general-consent procedures with respect to any eligible investor. (b) General consent--(1) Eligibility for general consent. Subject to the other limitations of this subpart, the Board grants its general consent for any investment an export trading company: (i) If the eligible investor is well capitalized and well managed; (ii) In an amount equal to cash dividends received from that export trading company during the preceding 12 calendar months; or (iii) That is acquired from an affiliate at net asset value or through a contribution of shares. (2) Post-investment notice. By the end of the month following the month in which the investment is made, the investor shall provide the Board with the following information: (i) The amount of the investment and the source of the funds with which the investment was made; and (ii) In the case of an initial investment, a description of the activities in which the export trading company proposes to engage and projections for the export trading company for the first year following the investment. (c) Filing notice--(1) Prior notice. An eligible investor shall give the Board 60 days' prior written notice of any investment in an export trading company that does not qualify under the general consent procedure. (2) Notice of change of activities. (i) An eligible investor shall give the Board 60 days' prior written notice of changes in the activities of an export trading company that is a subsidiary of the investor if the export trading company expands its activities beyond those described in the initial notice to include: (A) Taking title to goods where the export trading company does not have a firm order for the sale of those goods; (B) Product research and design; (C) Product modification; or (D) Activities not specifically covered by the list of activities contained in section 4(c)(14)(F)(ii) of the BHC Act (12 U.S.C. 1843(c)(14)(F)(ii)). (ii) Such an expansion of activities shall be regarded as a proposed investment under this subpart. (d) Time period for Board action. (1) A proposed investment that has not been disapproved by the Board may be made 60 days after the appropriate Federal Reserve Bank accepts the notice for processing. A proposed investment may be made before the expiration of the 60-day period if the Board notifies the investor in writing of its intention not to disapprove the investment. (2) The Board may extend the 60-day period for an additional 30 days if the Board determines that the investor has not furnished all necessary information or that any material information furnished is substantially inaccurate. The Board may disapprove an investment if the necessary information is provided within a time insufficient to allow the Board reasonably to consider the information received. (3) Within three days of a decision to disapprove an investment, the Board shall notify the investor in writing and state the reasons for the disapproval. (e) Time period for investment. An investment in an export trading company that has not been disapproved shall be made within one year from the date of the notice not to disapprove, unless the time period is extended by the Board or by the appropriate Federal Reserve Bank. Subpart D_International Lending Supervision Source: 49 FR 5592, Feb. 13, 1984, unless otherwise noted. Sec. 211.41 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board of Governors of the Federal Reserve System (Board) under the authority of the International Lending Supervision Act of 1983 (Pub. L. 98-181, title IX, 97 Stat. 1153) (International Lending Supervision Act); the Federal Reserve Act (12 U.S.C. 221 et seq.) (FRA), and the Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841 et seq.) (BHC Act). (b) Purpose and scope. This subpart is issued in furtherance of the purposes of the International Lending Supervision Act. It applies to State banks that are members of the Federal Reserve System (State member banks); corporations organized under section 25A of [[Page 355]] the FRA (12 U.S.C. 611 through 631) (Edge Corporations); corporations operating subject to an agreement with the Board under section 25 of the FRA (12 U.S.C. 601 through 604a) (Agreement Corporations); and bank holding companies (as defined in section 2 of the BHC Act (12 U.S.C. 1841(a)) but not including a bank holding company that is a foreign banking organization as defined in Sec. 211.21(o). [Reg. K, 68 FR 1159, Jan. 9, 2003] Sec. 211.42 Definitions. For the purposes of this subpart: (a) Administrative cost means those costs which are specifically identified with negotiating, processing and consummating the loan. These costs include, but are not necessarily limited to: legal fees; costs of preparing and processing loan documents; and an allocable portion of salaries and related benefits of employees engaged in the international lending function. No portion of supervisory and administrative expenses or other indirect expenses such as occupancy and other similar overhead costs shall be included. (b) Banking institution means a State member bank; bank holding company; Edge Corporation and Agreement Corporation engaged in banking. Banking institution does not include a foreign banking organization as defined in Sec. 211.21(o). (c) Federal banking agencies means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. (d) International assets means those assets required to be included in banking institutions' Country Exposure Report forms (FFIEC No. 009). (e) International loan means a loan as defined in the instructions to the Report of Condition and Income for the respective banking institution (FFIEC Nos. 031 and 041) and made to a foreign government, or to an individual, a corporation, or other entity not a citizen of, resident in, or organized or incorporated in the United States. (f) Restructured international loan means a loan that meets the following criteria: (1) The borrower is unable to service the existing loan according to its terms and is a resident of a foreign country in which there is a generalized inability of public and private sector obligors to meet their external debt obligations on a timely basis because of a lack of, or restraints on the availability of, needed foreign exchange in the country; and (2) The terms of the existing loan are amended to reduce stated interest or extend the schedule of payments; or (3) A new loan is made to, or for the benefit of, the borrower, enabling the borrower to service or refinance the existing debt. (g) Transfer risk means the possibility that an asset cannot be serviced in the currency of payment because of a lack of, or restraints on the availability of, needed foreign exchange in the country of the obligor. [Reg. K, 68 FR 1159, Jan. 9, 2003] Sec. 211.43 Allocated transfer risk reserve. (a) Establishment of Allocated Transfer Risk Reserve. A banking institution shall establish an allocated transfer risk reserve (ATRR) for specified international assets when required by the Board in accordance with this section. (b) Procedures and standards--(1) Joint agency determination. At least annually, the Federal banking agencies shall determine jointly, based on the standards set forth in paragraph (b)(2) of this section, the following: (i) Which international assets subject to transfer risk warrant establishment of an ATRR; (ii) The amount of the ATRR for the specified assets; and (iii) Whether an ATRR established for specified assets may be reduced. (2) Standards for requiring ATRR--(i) Evaluation of assets. The Federal banking agencies shall apply the following criteria in determining whether an ATRR is required for particular international assets: (A) Whether the quality of a banking institution's assets has been impaired by a protracted inability of public or private obligors in a foreign country to make payments on their external indebtedness as indicated by such factors, among others, as whether: (1) Such obligors have failed to make full interest payments on external indebtedness; or [[Page 356]] (2) Such obligors have failed to comply with the terms of any restructured indebtedness; or (3) A foreign country has failed to comply with any International Monetary Fund or other suitable adjustment program; or (B) Whether no definite prospects exist for the orderly restoration of debt service. (ii) Determination of amount of ATRR. (A) In determining the amount of the ATRR, the Federal banking agencies shall consider: (1) The length of time the quality of the asset has been impaired; (2) Recent actions taken to restore debt service capability; (3) Prospects for restored asset quality; and (4) Such other factors as the Federal banking agencies may consider relevant to the quality of the asset. (B) The initial year's provision for the ATRR shall be ten percent of the principal amount of each specified international asset, or such greater or lesser percentage determined by the Federal banking agencies. Additional provision, if any, for the ATRR in subsequent years shall be fifteen percent of the principal amount of each specified international asset, or such greater or lesser percentage determined by the Federal banking agencies. (3) Board notification. Based on the joint agency determinations under paragraph (b)(1) of this section, the Board shall notify each banking institution holding assets subject to an ATRR: (i) Of the amount of the ATRR to be established by the institution for specified international assets; and (ii) That an ATRR established for specified assets may be reduced. (c) Accounting treatment of ATRR--(1) Charge to current income. A banking institution shall establish an ATRR by a charge to current income and the amounts so charged shall not be included in the banking institution's capital or surplus. (2) Separate accounting. A banking institution shall account for an ATRR separately from the Allowance for Loan and Lease Losses, and shall deduct the ATRR from ``gross loans and leases'' to arrive at ``net loans and leases.'' The ATRR must be established for each asset subject to the ATRR in the percentage amount specified. (3) Consolidation. A banking institution shall establish an ATRR, as required, on a consolidated basis. For banks, consolidation should be in accordance with the procedures and tests of significance set forth in the instructions for preparation of Consolidated Reports of Condition and Income (FFIEC 031 and 041). For bank holding companies, the consolidation shall be in accordance with the principles set forth in the ``Instructions to Consolidated Financial Statements for Bank Holding Companies'' (Form F.R. Y-9C). Edge and Agreement corporations engaged in banking shall report in accordance with instructions for preparation of the Report of Condition for Edge and Agreement Corporations (Form F.R. 2886b). (4) Alternative accounting treatment. A banking institution is not required to establish an ATRR if it writes down in the period in which the ATRR is required, or has written down in prior periods, the value of the specified international assets in the requisite amount for each such asset. For purposes of this paragraph, international assets may be written down by a charge to the Allowance for Loan and Lease Losses or the allowance for credit losses, as applicable, to the extent permitted under U.S. generally accepted accounting principles, or a reduction in the principal amount of the asset by application of interest payments or other collections on the asset. However, the Allowance for Loan and Lease Losses or allowance for credit losses, as applicable, must be replenished in such amount necessary to restore it to a level which adequately provides for the estimated losses inherent in the banking institution's loan portfolio. (5) Reduction of ATRR. A banking institution may reduce an ATRR when notified by the Board or, at any time, by writing down such amount of the international asset for which the ATRR was established. [Reg. K, 68 FR 1159, Jan. 9, 2003, as amended at 84 FR 4241, Feb. 14, 2019] [[Page 357]] Sec. 211.44 Reporting and disclosure of international assets. (a) Requirements. (1) Pursuant to section 907(a) of the International Lending Supervision Act of 1983 (Title IX, Pub. L. 98-181, 97 Stat. 1153) (ILSA), a banking institution shall submit to the Board, at least quarterly, information regarding the amounts and composition of its holdings of international assets. (2) Pursuant to section 907(b) of ILSA, a banking institution shall submit to the Board information regarding concentrations in its holdings of international assets that are material in relation to total assets and to capital of the institution, such information to be made publicly available by the Board on request. (b) Procedures. The format, content and reporting and filing dates of the reports required under paragraph (a) of this section shall be determined jointly by the Federal banking agencies. The requirements to be prescribed by the Federal banking agencies may include changes to existing reporting forms (such as the Country Exposure Report, form FFIEC No. 009) or such other requirements as the Federal banking agencies deem appropriate. The Federal banking agencies also may determine to exempt from the requirements of paragraph (a) of this section banking institutions that, in the Federal banking agencies' judgment, have de minimis holdings of international assets. (c) Reservation of authority. Nothing contained in this rule shall preclude the Board from requiring from a banking institution such additional or more frequent information on the institution's holding of international assets as the Board may consider necessary. [Reg. K, 68 FR 1159, Jan. 9, 2003] Sec. 211.45 Accounting for fees on international loans. (a) Restrictions on fees for restructured international loans. No banking institution shall charge, in connection with the restructuring of an international loan, any fee exceeding the administrative cost of the restructuring unless it amortizes the amount of the fee exceeding the administrative cost over the effective life of the loan. (b) Accounting treatment. Subject to paragraph (a) of this section, banking institutions shall account for fees on international loans in accordance with generally accepted accounting principles. [Reg. K, 68 FR 1159, Jan. 9, 2003] Interpretations Sec. 211.601 Status of certain offices for purposes of the International Banking Act restrictions on interstate banking operations. The Board has considered the question of whether a foreign bank's California office that may accept deposits from certain foreign sources (e.g., a United States citizen residing abroad) is a branch or an agency for the purposes of the grandfather provisions of section 5 of the International Banking Act of 1978 (12 U.S.C. 3103(b)). The question has arisen as a result of the definitions in the International Banking Act of branch and agency, and the limited deposit-taking capabilities of certain California offices of foreign banks. The International Banking Act defines agency as ``any office * * * at which deposits may not be accepted from citizens or residents of the United States,'' and defines branch as ``any office * * * of a foreign bank * * * at which deposits are received'' (12 U.S.C. 3101(1) and (3)). Offices of foreign banks in California prior to the International Banking Act were generally prohibited from accepting deposits by the requirement of State law that such offices obtain Federal deposit insurance (Cal. Fin. Code 1756); until the passage of the International Banking Act an office of a foreign bank could not obtain such insurance. California law, however, permits offices of foreign banks, with the approval of the Banking Department, to accept deposits from any person that resides, is domiciled, and maintains its principal place of business in a foreign country (Cal. Fin. Code 1756.2). Thus, under a literal reading of the definitions of branch and agency contained in the International Banking Act, a foreign bank's California office that accepts deposits from certain foreign sources (e.g., a U.S. citizen residing abroad), is a branch rather than an agency. [[Page 358]] Section 5 of the International Banking Act establishes certain limitations on the expansion of the domestic deposit-taking capabilities of a foreign bank outside its home State. It also grandfathers offices established or applied for prior to July 27, 1978, and permits a foreign bank to select its home State from among the States in which it operated branches and agencies on the grandfather date. If a foreign bank's office that was established or applied for prior to June 27, 1978, is a branch as defined in the International Banking Act, then it is grandfathered as a branch. Accordingly, a foreign bank could designate a State other than California as its home State and subsequently convert its California office to a full domestic deposit-taking facility by obtaining Federal deposit insurance. If, however, the office is determined to be an agency, then it is grandfathered as such and the foreign bank may not expand its deposit-taking capabilities in California without declaring California its home State. In the Board's view, it would be inconsistent with the purposes and the legislative history of the International Banking Act to enable a foreign bank to expand its domestic interstate deposit-taking capabilities by grandfathering these California offices as branches because of their ability to receive certain foreign source deposits. The Board also notes that such deposits are of the same general type that may be received by an Edge Corporation and, hence in accordance with section 5(a) of the International Banking Act, by branches established and operated outside a foreign bank's home State. It would be inconsistent with the structure of the interstate banking provisions of the International Banking Act to grandfather as full deposit-taking offices those facilities whose activities have been determined by Congress to be appropriate for a foreign bank's out-of-home State branches. Accordingly, the Board, in administering the interstate banking provisions of the IBA, regards as agencies those offices of foreign banks that do not accept domestic deposits but that may accept deposits from any person that resides, is domiciled, and maintains its principal place of business in a foreign country. [45 FR 67309, Oct. 10, 1980] Sec. 211.602 Investments by United States Banking Organizations in foreign companies that transact business in the United States. Section 25(a) of the Federal Reserve Act (12 U.S.C. 611, the ``Edge Act'') provides for the establishment of corporations to engage in international or foreign banking or other international or foreign financial operations (``Edge Corporations''). Congress has declared that Edge Corporations are to serve the purpose of stimulating the provision of international banking and financing services throughout the United States and are to have powers sufficiently broad to enable them to compete effectively with foreign-owned institutions in the United States and abroad. The Board was directed by the International Banking Act of 1978 (12 U.S.C. 3101) to revise its regulations governing Edge Corporations in order to accomplish these and other objectives and was further directed to modify or eliminate any interpretations that impede the attainment of these purposes. One of the powers of Edge Corporations is that of investing in foreign companies. Under the relevant statutes, however, an Edge Corporation is prohibited from investing in foreign companies that engage in the general business of buying or selling goods, wares, merchandise or commodities in the United States. In addition, an Edge Corporation may not invest in foreign companies that transact any business in the United States that is not, in the Board's judgment, ``incidental'' to its international or foreign business. The latter limitation also applies to investments by bank holding companies (12 U.S.C. 1843(c)(13)) and member banks (12 U.S.C. 601). The Board has been asked to determine whether an Edge Corporation's minority investment (involving less than 25 percent of the voting shares) in a foreign company would continue to be permissible after the foreign company establishes or acquires a United States subsidiary that engages in domestic activities that are closely related to banking. The Board has also [[Page 359]] been asked to determine whether an Edge Corporation's minority investment in a foreign bank would continue to be permissible after the foreign bank establishes a branch in the United States that engages in domestic banking activities. In the latter case, the branch would be located outside the State in which the Edge Corporation and its parent bank are located. In the past the Board, in exercising its discretionary authority to determine those activities that are permissible in the United States, has followed the policy that an Edge Corporation could not hold even a minority interest in a foreign company that engaged, directly or indirectly, in any purely domestic business in the United States. The United States activities considered permissible were those internationally related activities that Edge Corporations may engage in directly. If this policy were applied to the subject requests, the Edge Corporations would be required to divest their interests in the foreign companies notwithstanding the fact that, in each case, the Edge Corporation, as a minority investor, did not control the decision to undertake activities in the United States, and that even after the United States activities are undertaken the business of the foreign company will remain predominantly outside the United States. International banking and finance have undergone considerable growth and change in recent years. It is increasingly common, for example, for United States institutions to have direct or indirect offices in foreign countries and to engage in activities at those offices that are domestically as well as internationally oriented. In this climate, United States banking organizations would be placed at a competitive disadvantage if their minority investments in foreign companies were limited to those companies that do no domestic business in the United States. Moreover, continued adherence to the existing policy would be contrary to the declaration in the International Banking Act of 1978 that Edge Corporations' powers are to be sufficiently broad to enable them to compete effectively in the United States and abroad. Furthermore, where the activities to be conducted in the United States by the foreign company are banking or closely related to banking, it does not appear that any regulatory or supervisory purpose would be served by prohibiting a minority investment in the foreign firm by a United States banking organization. In view of these considerations, the Board has reviewed its policy relating to the activities that may be engaged in the United States by foreign companies (including foreign banks) in which Edge Corporations, member banks, and bank holding companies invest. As a result of that review, the Board has determined that it would be appropriate to interpret sections 25 and 25(a)of the Federal Reserve Act (12 U.S.C. 601, 611) and section 4(c)(13) of the Bank Holding Company Act (12 U.S.C. 1843(c)(13)) generally to allow United States banking organizations, with the prior consent of the Board, to acquire and hold investments in foreign companies that do business in the United States subject to the following conditions: (1) The foreign company is engaged predominantly in business outside the United States or in internationally related activities in the United States;* --------------------------------------------------------------------------- *This condition would ordinarily not be met where a foreign company merely maintains a majority of its business in international activities. Each case will be scrutinized to ensure that the activities in the United States do not alter substantially the international orientation of the foreign company's business. --------------------------------------------------------------------------- (2) The direct or indirect activities of the foreign company in the United States are either banking or closely related to banking; and (3) The United States banking organization does not own 25 percent or more of the voting stock of, or otherwise control, the foreign company. In considering whether to grant its consent for such investments, the Board would also review the proposals to ensure that they are consistent with the purposes of the Bank Holding Company Act and the Federal Reserve Act. [46 FR 8437, Jan. 27, 1981] [[Page 360]] Sec. 211.603 Commodity swap transactions. For text of interpretation relating to this subject, see Sec. 208.128 of this chapter. [56 FR 63408, Dec. 4, 1991] Sec. 211.604 Data processing activities. (a) Introduction. As a result of a recent proposal by a bank holding company to engage in data processing activities abroad, the Board has considered the scope of permissible data processing activities under Regulation K (12 CFR part 211). This question has arisen as a result of the fact that Sec. 211.5(d)(10) of Regulation K does not specifically indicate the scope of data processing as a permissible activity abroad. (b) Scope of data processing activities. (1) Prior to 1979, the Board authorized specific banking organizations to engage in data processing activities abroad with the expectation that such activity would be primarily related to financial activities. When Regulation K was issued in 1979, data processing was included as a permissible activity abroad. Although the regulation did not provide specific guidance on the scope of this authority, the Board has considered such authority to be coextensive with the authority granted in specific cases prior to the issuance of Regulation K, which relied on the fact that most of the activity would relate to financial data. Regulation K does not address related activities such as the manufacture of hardware or the provision of software or related or incidental services. (2) In 1979, when the activity was included in Regulation K for the first time, the data processing authority in Regulation K was somewhat broader than that permissible in the United States under Regulation Y (12 CFR part 225) at that time, as the Regulation K authority permitted limited non-financial data processing. In 1979, Regulation Y authorized only financial data processing activities for third parties, with very limited exceptions. By 1997, however, the scope of data processing activities under Regulation Y was expanded such that bank holding companies are permitted to derive up to 30 percent of their data processing revenues from processing data that is not financial, banking, or economic. Moreover, in other respects, the Regulation Y provision is broader than the data processing provision in Regulation K. (3) In light of the fact that the permissible scope of data processing activities under Regulation Y is now equal to, and in some respects, broader than the activity originally authorized under Regulation K, the Board believes that Sec. 211.5(d)(10) should be read to encompass all of the activities permissible under Sec. 225.28(b)(14) of Regulation Y. In addition, the limitations of that section would also apply to Sec. 211.5(d)(10). (c) Applications. If a U.S. banking organization wishes to engage abroad in data processing or data transmission activities beyond those described in Regulation Y, it must apply for the Board's prior consent under Sec. 211.5(d)(20) of Regulation K. In addition, if any investor has commenced activities beyond those permitted under Sec. 225.28(b)(14) of Regulation Y in reliance on Regulation K, it should consult with staff of the Board to determine whether such activities have been properly authorized under Regulation K. [Reg. K, 64 FR 58781, Nov. 1, 1999] Sec. 211.605 Permissible underwriting activities of foreign banks. (a) Introduction. A number of foreign banks that are subject to the Bank Holding Company Act (``BHC Act'') have participated as co-managers in the underwriting of securities to be distributed in the United States despite the fact that the foreign banks in question do not have authority to engage in underwriting activity in the United States under either the Gramm-Leach-Bliley Act (``GLB Act'') or section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)). This interpretation clarifies the scope of existing restrictions on underwriting by such foreign banks with respect to securities that are distributed in the United States. (b) Underwriting transactions engaged in by foreign banks. (1) In the transactions in question, a foreign bank [[Page 361]] typically becomes a member of the underwriting syndicate for securities that are registered and intended to be distributed in the United States. The lead underwriter, usually a registered U.S. broker-dealer not affiliated with the foreign bank, agrees to be responsible for distributing the securities being underwritten. The underwriting obligation is assumed by a foreign office or affiliate of the foreign bank. (2) The foreign banks have used their U.S. offices or affiliates to act as liaison with the U.S. issuer and the lead underwriter in the United States, to prepare documentation and to provide other services in connection with the underwriting. In some cases, the U.S. offices or affiliates that assisted the foreign bank with the underwriting receive a substantial portion of the revenue generated by the foreign bank's participation in the underwriting. In other cases, the U.S. offices receive ``credit'' from the head office of the foreign bank for their assistance in generating profits arising from the underwriting. (3) By assuming the underwriting risk and booking the underwriting fees in their foreign offices or affiliates, the foreign banks are able to take advantage of an exemption under U.S. securities laws; a foreign underwriter is not required to register in the United States if the underwriter either does not distribute any of the securities in the United States or distributes them only through a registered broker- dealer. (c) Permissible scope of underwriting activities. (1) A foreign bank that is subject to the BHC Act may engage in underwriting activities in the United States only if it has been authorized under section 4 of the Act. The foreign banks in question have argued that they are not engaged in underwriting activity in the United States because the underwriting activity takes place only outside the United States where the transaction is booked. The foreign banks refer to Regulation K, which defines ``engaged in business'' or ``engaged in activities'' to mean conducting an activity through an office or subsidiary in the United States. Because the underwriting is not booked in a U.S. office or subsidiary, the banks assert that the activity cannot be considered conducted in the United States. (2) The Board believes that the position taken by the foreign banks is not supported by the Board's regulations or policies. Section 225.124 of the Board's Regulation Y (12 CFR 225.124(d)) states that a foreign bank will not be considered to be engaged in the activity of underwriting in the United States if the shares to be underwritten are distributed outside the United States. In the transactions in question, all of the securities to be underwritten by the foreign banks are distributed in the United States. (3) Regulation K (12 CFR part 211) was amended in 1985 to provide clarification that a foreign bank may not own or control voting shares of a foreign company that directly underwrites, sells or distributes securities in the United States (emphasis added). 12 CFR 211.23(f)(5)(ii). In proposing this latter provision, the Board clarified that no part of the prohibited underwriting process may take place in the United States and that the prohibition on the activity does not depend on the activity being conducted through an office or subsidiary in the United States. Moreover, in the transactions in question, there was significant participation by U.S. offices and affiliates of the foreign banks in the underwriting process. In some transactions, the foreign office at which the transactions were booked did not have any documentation on the particular transactions; all documentation was maintained in the United States office. In all cases, the U.S. offices or affiliates provided virtually all technical support for participation in the underwriting process and benefitted from profits generated by the activity. (4) The fact that some technological and regulatory constraints on the delivery of cross-border services into the United States have been eliminated since the Regulation K definition of ``engaged in business'' was adopted in 1979 creates greater scope for banking organizations to deal with customers outside the U.S. bank regulatory framework. The definition in Regulation K, however, does not authorize foreign banking organizations to evade regulatory restrictions on securities [[Page 362]] activities in the United States by directly underwriting securities to be distributed in the United States or by using U.S. offices and affiliates to facilitate the prohibited activity. In the GLB Act, Congress established a framework within which both domestic and foreign banking organizations may underwrite and deal in securities in the United States. The GLB Act requires that banking organizations meet certain financial and managerial requirements in order to be able to engage in these activities in the United States. The Board believes the practices described above undermine this legislative framework and constitute an evasion of the requirements of the GLB Act and the Board's Regulation K. Foreign banking organizations that wish to conduct securities underwriting activity in the United States have long had the option of obtaining section 20 authority and now have the option of obtaining financial holding company status. (d) Conclusion. The Board finds that the underwriting of securities to be distributed in the United States is an activity conducted in the United States, regardless of the location at which the underwriting risk is assumed and the underwriting fees are booked. Consequently, any banking organization that wishes to engage in such activity must either be a financial holding company under the GLB Act or have authority to engage in underwriting activity under section 4(c)(8) of the BHC Act (so-called ``section 20 authority''). Revenue generated by underwriting bank-ineligible securities in such transactions should be attributed to the section 20 company for those foreign banks that operate under section 20 authority. [Reg. K, 68 FR 7899, Feb. 19, 2003] PART 212_MANAGEMENT OFFICIAL INTERLOCKS--Table of Contents Sec. 212.1 Authority, purpose, and scope. 212.2 Definitions. 212.3 Prohibitions. 212.4 Interlocking relationships permitted by statute. 212.5 Small market share exemption. 212.6 General exemption. 212.7 Change in circumstances. 212.8 Enforcement. 212.9 Effect of Interlocks Act on Clayton Act. Authority: 12 U.S.C. 3201-3208; 15 U.S.C. 19. Source: 61 FR 40302, Aug. 2, 1996, unless otherwise noted. Sec. 212.1 Authority, purpose, and scope. (a) Authority. This part is issued under the provisions of the Depository Institution Management Interlocks Act (Interlocks Act) (12 U.S.C. 3201 et seq.), as amended. (b) Purpose. The purpose of the Interlocks Act and this part is to foster competition by generally prohibiting a management official from serving two nonaffiliated depository organizations in situations where the management interlock likely would have an anticompetitive effect. (c) Scope. This part applies to management officials of state member banks, bank holding companies, and their affiliates. Sec. 212.2 Definitions. For purposes of this part, the following definitions apply: (a) Affiliate. (1) The term affiliate has the meaning given in section 202 of the Interlocks Act (12 U.S.C. 3201). For purposes of that section 202, shares held by an individual include shares held by members of his or her immediate family. ``Immediate family'' means spouse, mother, father, child, grandchild, sister, brother, or any of their spouses, whether or not any of their shares are held in trust. (2) For purposes of section 202(3)(B) of the Interlocks Act (12 U.S.C. 3201(3)(B)), an affiliate relationship based on common ownership does not exist if the Board determines, after giving the affected persons the opportunity to respond, that the asserted affiliation was established in order to avoid the prohibitions of the Interlocks Act and does not represent a true commonality of interest between the depository organizations. In making this determination, the Board considers, among other things, whether a person, including members of his or her immediate family, whose shares are necessary to constitute the group owns a nominal percentage of the shares of [[Page 363]] one of the organizations and the percentage is substantially disproportionate to that person's ownership of shares in the other organization. (b) Area median income means: (1) The median family income for the metropolitan statistical area (MSA), if a depository organization is located in an MSA; or (2) The statewide nonmetropolitan median family income, if a depository organization is located outside an MSA. (c) Community means a city, town, or village, and contiguous and adjacent cities, towns, or villages. (d) Contiguous or adjacent cities, towns, or villages means cities, towns, or villages whose borders touch each other or whose borders are within 10 road miles of each other at their closest points. The property line of an office located in an unincorporated city, town, or village is the boundary line of that city, town, or village for the purpose of this definition. (e) Depository holding company means a bank holding company or a savings and loan holding company (as more fully defined in section 202 of the Interlocks Act (12 U.S.C. 3201)) having its principal office located in the United States. (f) Depository institution means a commercial bank (including a private bank), a savings bank, a trust company, a savings and loan association, a building and loan association, a homestead association, a cooperative bank, an industrial bank, or a credit union, chartered under the laws of the United States and having a principal office located in the United States. Additionally, a United States office, including a branch or agency, of a foreign commercial bank is a depository institution. (g) Depository institution affiliate means a depository institution that is an affiliate of a depository organization. (h) Depository organization means a depository institution or a depository holding company. (i) Low- and moderate-income areas means census tracts (or, if an area is not in a census tract, block numbering areas delineated by the United States Bureau of the Census) where the median family income is less than 100 percent of the area median income. (j) Management official. (1) The term management official means: (i) A director; (ii) An advisory or honorary director of a depository institution with total assets of $100 million or more; (iii) A senior executive officer as that term is defined in 12 CFR 225.71(c); (iv) A branch manager; (v) A trustee of a depository organization under the control of trustees; and (vi) Any person who has a representative or nominee, as defined in paragraph (n) of this section, serving in any of the capacities in this paragraph (j)(1). (2) The term management official does not include: (i) A person whose management functions relate exclusively to the business of retail merchandising or manufacturing; (ii) A person whose management functions relate principally to a foreign commercial bank's business outside the United States; or (iii) A person described in the provisos of section 202(4) of the Interlocks Act (referring to an officer of a State-chartered savings bank, cooperative bank, or trust company that neither makes real estate mortgage loans nor accepts savings). (k) Office means a principal or branch office of a depository institution located in the United States. Office does not include a representative office of a foreign commercial bank, an electronic terminal, a loan production office, or any office of a depository holding company. (l) Person means a natural person, corporation, or other business entity. (m) Relevant metropolitan statistical area (RMSA) means an MSA, a primary MSA, or a consolidated MSA that is not comprised of designated Primary MSAs to the extent that these terms are defined and applied by the Office of Management and Budget. (n) Representative or nominee means a natural person who serves as a management official and has an obligation to act on behalf of another person with respect to management responsibilities. The Board will find that a person has [[Page 364]] an obligation to act on behalf of another person only if the first person has an agreement, express or implied, to act on behalf of the second person with respect to management responsibilities. The Board will determine, after giving the affected persons an opportunity to respond, whether a person is a representative or nominee. (o) Total assets. (1) The term total assets means assets measured on a consolidated basis and reported in the most recent fiscal year-end Consolidated Report of Condition and Income. (2) The term total assets does not include: (i) Assets of a diversified savings and loan holding company as defined by section 10(a)(1)(F) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)(1)(F)) other than the assets of its depository institution affiliate; (ii) Assets of a bank holding company that is exempt from the prohibitions of section 4 of the Bank Holding Company Act of 1956 pursuant to an order issued under section 4(d) of that Act (12 U.S.C. 1843(d)) other than the assets of its depository institution affiliate; or (iii) Assets of offices of a foreign commercial bank other than the assets of its United States branch or agency. (3)(i) Notwithstanding paragraph (o)(1) of this section, and except as provided in paragraph (o)(3)(ii) of this section, from December 2, 2020, through December 31, 2021, the term total assets, with respect to a depository organization, means the lesser of assets of the depository organization reported on a consolidated basis as of December 31, 2019, and assets reported as of the end of the depository organization's most recent fiscal year on a consolidated basis as of December 31, 2020. (ii) The relief provided under paragraph (o)(3)(i) of this section does not apply to a depository organization if the Board determines that permitting the depository organization to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the depository organization. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the depository organization since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the depository organization has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the depository organization. In making a determination pursuant to this paragraph (o)(3)(ii), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (p) United States means the United States of America, any State or territory of the United States of America, the District of Columbia, Puerto Rico, Guam, American Samoa, and the Virgin Islands. [61 FR 40302, Aug. 2, 1996, as amended at 64 FR 51679, Sept. 24, 1999; Reg. L, 72 FR 1276, Jan. 11, 2007; 85 FR 77361, Dec. 2, 2020] Sec. 212.3 Prohibitions. (a) Community. A management official of a depository organization may not serve at the same time as a management official of an unaffiliated depository organization if the depository organizations in question (or a depository institution affiliate thereof) have offices in the same community. (b) RMSA. A management official of a depository organization may not serve at the same time as a management official of an unaffiliated depository organization if the depository organizations in question (or a depository institution affiliate thereof) have offices in the same RMSA and, in the case of depository institutions, each depository organization has total assets of $50 million or more. (c) Major assets. A management official of a depository organization with total assets exceeding $10 billion (or any affiliate of such an organization) may not serve at the same time as a management official of an unaffiliated depository organization with total assets exceeding $10 billion (or any affiliate of such an organization), regardless of the location of the two depository organizations. The Board will adjust these thresholds, as necessary, based on the year-to-year change in the average of the Consumer Price Index [[Page 365]] for the Urban Wage Earners and Clerical Workers, not seasonally adjusted, with rounding to the nearest $100 million. The Board will announce the revised thresholds by publishing a final rule without notice and comment in the Federal Register. [61 FR 40302, Aug. 2, 1996, as amended at 64 FR 51679, Sept. 24, 1999; Reg. L, 72 FR 1276, Jan. 11, 2007; 84 FR 54471, Oct. 10, 2019] Sec. 212.4 Interlocking relationships permitted by statute. The prohibitions of Sec. 212.3 do not apply in the case of any one or more of the following organizations or to a subsidiary thereof: (a) A depository organization that has been placed formally in liquidation, or which is in the hands of a receiver, conservator, or other official exercising a similar function; (b) A corporation operating under section 25 or section 25A of the Federal Reserve Act (12 U.S.C. 601 et seq. and 12 U.S.C. 611 et seq., respectively) (Edge Corporations and Agreement Corporations); (c) A credit union being served by a management official of another credit union; (d) A depository organization that does not do business within the United States except as an incident to its activities outside the United States; (e) A State-chartered savings and loan guaranty corporation; (f) A Federal Home Loan Bank or any other bank organized solely to serve depository institutions (a bankers' bank) or solely for the purpose of providing securities clearing services and services related thereto for depository institutions and securities companies; (g) A depository organization that is closed or is in danger of closing as determined by the appropriate Federal depository institution's regulatory agency and is acquired by another depository organization. This exemption lasts for five years, beginning on the date the depository organization is acquired; and (h)(1) A diversified savings and loan holding company (as defined in section 10(a)(1)(F) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)(1)(F)) with respect to the service of a director of such company who also is a director of an unaffiliated depository organization if: (i) Both the diversified savings and loan holding company and the unaffiliated depository organization notify their appropriate Federal depository institutions regulatory agency at least 60 days before the dual service is proposed to begin; and (ii) The appropriate regulatory agency does not disapprove the dual service before the end of the 60-day period. (2) The Board may disapprove a notice of proposed service if it finds that: (i) The service cannot be structured or limited so as to preclude an anticompetitive effect in financial services in any part of the United States; (ii) The service would lead to substantial conflicts of interest or unsafe or unsound practices; or (iii) The notificant failed to furnish all the information required by the Board. (3) The Board may require that any interlock permitted under this paragraph (h) be terminated if a change in circumstances occurs with respect to one of the interlocked depository organizations that would have provided a basis for disapproval of the interlock during the notice period. Sec. 212.5 Small market share exemption. (a) Exemption. A management interlock that is prohibited by Sec. 212.3 is permissible, if: (1) The interlock is not prohibited by Sec. 212.3(c); and (2) The depository organizations (and their depository institution affiliates) hold, in the aggregate, no more than 20 percent of the deposits in each RMSA or community in which both depository organizations (or their depository institution affiliates) have offices. The amount of deposits shall be determined by reference to the most recent annual Summary of Deposits published by the FDIC for the RMSA or community. (b) Confirmation and records. Each depository organization must maintain records sufficient to support its determination of eligibility for the exemption under paragraph (a) of this section, and must reconfirm that determination on an annual basis. [64 FR 51679, Sept. 24, 1999] [[Page 366]] Sec. 212.6 General exemption. (a) Exemption. The Board may, by agency order, exempt an interlock from the prohibitions in Sec. 212.3, if the Board finds that the interlock would not result in a monopoly or substantial lessening of competition, and would not present safety and soundness concerns. (b) Presumptions. In reviewing an application for an exemption under this section, the Board will apply a rebuttable presumption that an interlock will not result in a monopoly or substantial lessening of competition if the depository organization seeking to add a management official: (1) Primarily serves low- and moderate-income areas; (2) Is controlled or managed by persons who are members of a minority group, or women; (3) Is a depository institution that has been chartered for less than two years; or (4) Is deemed to be in ``troubled condition'' as defined in 12 CFR 225.71. (c) Duration. Unless a shorter expiration period is provided in the Board approval, an exemption permitted by paragraph (a) of this section may continue so long as it does not result in a monopoly or substantial lessening of competition, or is unsafe or unsound. If the Board grants an interlock exemption in reliance upon a presumption under paragraph (b) of this section, the interlock may continue for three years, unless otherwise provided by the Board in writing. [64 FR 51679, Sept. 24, 1999] Sec. 212.7 Change in circumstances. (a) Termination. A management official shall terminate his or her service or apply for an exemption if a change in circumstances causes the service to become prohibited. A change in circumstances may include an increase in asset size of an organization, a change in the delineation of the RMSA or community, the establishment of an office, an increase in the aggregate deposits of the depository organization, or an acquisition, merger, consolidation, or reorganization of the ownership structure of a depository organization that causes a previously permissible interlock to become prohibited. (b) Transition period. A management official described in paragraph (a) of this section may continue to serve the state member bank or bank holding company involved in the interlock for 15 months following the date of the change in circumstances. The Board may shorten this period under appropriate circumstances. [61 FR 40302, Aug. 2, 1996, as amended at 64 FR 51679, Sept. 24, 1999] Sec. 212.8 Enforcement. Except as provided in this section, the Board administers and enforces the Interlocks Act with respect to state member banks, bank holding companies, and affiliates of either, and may refer any case of a prohibited interlocking relationship involving these entities to the Attorney General of the United States to enforce compliance with the Interlocks Act and this part. If an affiliate of a state member bank or a bank holding company is subject to the primary regulation of another Federal depository organization supervisory agency, then the Board does not administer and enforce the Interlocks Act with respect to that affiliate. Sec. 212.9 Effect of Interlocks Act on Clayton Act. The Board regards the provisions of the first three paragraphs of section 8 of the Clayton Act (15 U.S.C. 19) to have been supplanted by the revised and more comprehensive prohibitions on management official interlocks between depository organizations in the Interlocks Act. PART 213_CONSUMER LEASING (REGULATION M)--Table of Contents Sec. 213.1 Authority, scope, purpose, and enforcement. 213.2 Definitions. 213.3 General disclosure requirements. 213.4 Content of disclosures. 213.5 Renegotiations, extensions, and assumptions. 213.6 [Reserved] 213.7 Advertising. 213.8 Record retention. 213.9 Relation to state laws. Appendix A to Part 213--Model Forms [[Page 367]] Appendix B to Part 213--Federal Enforcement Agencies Appendix C to Part 213--Issuance of Staff Interpretations Supplement I to Part 213--Official Staff Commentary to Regulation M Authority: 15 U.S.C. 1604 and 1667f; Pub. L. No. 111-203 section 1100E, 124 Stat. 1376. Source: Reg. M, 61 FR 52258, Oct. 7, 1996, unless otherwise noted. Sec. 213.1 Authority, scope, purpose, and enforcement. (a) Authority. The regulation in this part, known as Regulation M, is issued by the Board of Governors of the Federal Reserve System to implement the consumer leasing provisions of the Truth in Lending Act, which is title I of the Consumer Credit Protection Act, as amended (15 U.S.C. 1601 et seq.). Information collection requirements contained in this regulation have been approved by the Office of Management and Budget under the provisions of 44 U.S.C. 3501 et seq. and have been assigned OMB control number 7100-0202. (b) Scope and purpose. This part applies to all persons that are lessors of personal property under consumer leases as those terms are defined in Sec. 213.2(e)(1) and (h). The purpose of this part is: (1) To ensure that lessees of personal property receive meaningful disclosures that enable them to compare lease terms with other leases and, where appropriate, with credit transactions; (2) To limit the amount of balloon payments in consumer lease transactions; and (3) To provide for the accurate disclosure of lease terms in advertising. (c) Enforcement and liability. Section 108 of the act contains the administrative enforcement provisions. Sections 112, 130, 131, and 185 of the act contain the liability provisions for failing to comply with the requirements of the act and this part. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15367, Apr. 1, 1997] Sec. 213.2 Definitions. For the purposes of this part the following definitions apply: (a) Act means the Truth in Lending Act (15 U.S.C. 1601 et seq.) and the Consumer Leasing Act is chapter 5 of the Truth in Lending Act. (b) Advertisement means a commercial message in any medium that directly or indirectly promotes a consumer lease transaction. (c) Board refers to the Board of Governors of the Federal Reserve System. (d) Closed-end lease means a consumer lease other than an open-end lease as defined in this section. (e)(1) Consumer lease means a contract in the form of a bailment or lease for the use of personal property by a natural person primarily for personal, family, or household purposes, for a period exceeding four months and for a total contractual obligation not exceeding the applicable threshold amount, whether or not the lessee has the option to purchase or otherwise become the owner of the property at the expiration of the lease. The threshold amount is adjusted annually to reflect increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as applicable. See the official staff commentary to this paragraph (e) for the threshold amount applicable to a specific consumer lease. Unless the context indicates otherwise, in this part ``lease'' means ``consumer lease.'' (2) The term does not include a lease that meets the definition of a credit sale in Regulation Z (12 CFR 226.2(a)). It also does not include a lease for agricultural, business, or commercial purposes or a lease made to an organization. (3) This part does not apply to a lease transaction of personal property which is incident to the lease of real property and which provides that: (i) The lessee has no liability for the value of the personal property at the end of the lease term except for abnormal wear and tear; and (ii) The lessee has no option to purchase the leased property. (f) Gross capitalized cost means the amount agreed upon by the lessor and the lessee as the value of the leased property and any items that are capitalized or amortized during the lease term, including but not limited to taxes, insurance, service agreements, and any outstanding prior credit or lease balance. Capitalized cost reduction means the total amount of any rebate, [[Page 368]] cash payment, net trade-in allowance, and noncash credit that reduces the gross capitalized cost. The adjusted capitalized cost equals the gross capitalized cost less the capitalized cost reduction, and is the amount used by the lessor in calculating the base periodic payment. (g) Lessee means a natural person who enters into or is offered a consumer lease. (h) Lessor means a person who regularly leases, offers to lease, or arranges for the lease of personal property under a consumer lease. A person who has leased, offered, or arranged to lease personal property more than five times in the preceding calendar year or more than five times in the current calendar year is subject to the act and this part. (i) Open-end lease means a consumer lease in which the lessee's liability at the end of the lease term is based on the difference between the residual value of the leased property and its realized value. (j) Organization means a corporation, trust, estate, partnership, cooperative, association, or government entity or instrumentality. (k) Person means a natural person or an organization. (l) Personal property means any property that is not real property under the law of the state where the property is located at the time it is offered or made available for lease. (m) Realized value means: (1) The price received by the lessor for the leased property at disposition; (2) The highest offer for disposition of the leased property; or (3) The fair market value of the leased property at the end of the lease term. (n) Residual value means the value of the leased property at the end of the lease term, as estimated or assigned at consummation by the lessor, used in calculating the base periodic payment. (o) Security interest and security mean any interest in property that secures the payment or performance of an obligation. (p) State means any state, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession of the United States. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15367, Apr. 1, 1997; 76 FR 18353, Apr. 4, 2011] Sec. 213.3 General disclosure requirements. (a) General requirements. A lessor shall make the disclosures required by Sec. 213.4, as applicable. The disclosures shall be made clearly and conspicuously in writing in a form the consumer may keep, in accordance with this section. The disclosures required by this part may be provided to the lessee in electronic form, subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. Sec. 7001 et seq.). For an advertisement accessed by the consumer in electronic form, the disclosures required by Sec. 213.7 may be provided to the consumer in electronic form in the advertisement, without regard to the consumer consent or other provisions of the E-Sign Act. (1) Form of disclosures. The disclosures required by Sec. 213.4 shall be given to the lessee together in a dated statement that identifies the lessor and the lessee; the disclosures may be made either in a separate statement that identifies the consumer lease transaction or in the contract or other document evidencing the lease. Alternatively, the disclosures required to be segregated from other information under paragraph (a)(2) of this section may be provided in a separate dated statement that identifies the lease, and the other required disclosures may be provided in the lease contract or other document evidencing the lease. In a lease of multiple items, the property description required by Sec. 213.4(a) may be given in a separate statement that is incorporated by reference in the disclosure statement required by this paragraph. (2) Segregation of certain disclosures. The following disclosures shall be segregated from other information and shall contain only directly related information: Sec. Sec. 213.4(b) through (f), (g)(2), (h)(3), (i)(1), (j), and (m)(1). The headings, content, and format for the disclosures referred to in this paragraph [[Page 369]] (a)(2) shall be provided in a manner substantially similar to the applicable model form in appendix A of this part. (3) Timing of disclosures. A lessor shall provide the disclosures to the lessee prior to the consummation of a consumer lease. (4) Language of disclosures. The disclosures required by Sec. 213.4 may be made in a language other than English provided that they are made available in English upon the lessee's request. (b) Additional information; nonsegregated disclosures. Additional information may be provided with any disclosure not listed in paragraph (a)(2) of this section, but it shall not be stated, used, or placed so as to mislead or confuse the lessee or contradict, obscure, or detract attention from any disclosure required by this part. (c) Multiple lessors or lessees. When a transaction involves more than one lessor, the disclosures required by this part may be made by one lessor on behalf of all the lessors. When a lease involves more than one lessee, the lessor may provide the disclosures to any lessee who is primarily liable on the lease. (d) Use of estimates. If an amount or other item needed to comply with a required disclosure is unknown or unavailable after reasonable efforts have been made to ascertain the information, the lessor may use a reasonable estimate that is based on the best information available to the lessor, is clearly identified as an estimate, and is not used to circumvent or evade any disclosures required by this part. (e) Effect of subsequent occurrence. If a required disclosure becomes inaccurate because of an event occurring after consummation, the inaccuracy is not a violation of this part. (f) Minor variations. A lessor may disregard the effects of the following in making disclosures: (1) That payments must be collected in whole cents; (2) That dates of scheduled payments may be different because a scheduled date is not a business day; (3) That months have different numbers of days; and (4) That February 29 occurs in a leap year. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 66 FR 17328, Mar. 30, 2001; 72 FR 63461, Nov. 9, 2007] Sec. 213.4 Content of disclosures. For any consumer lease subject to this part, the lessor shall disclose the following information, as applicable: (a) Description of property. A brief description of the leased property sufficient to identify the property to the lessee and lessor. (b) Amount due at lease signing or delivery. The total amount to be paid prior to or at consummation or by delivery, if delivery occurs after consummation, using the term ``amount due at lease signing or delivery.'' The lessor shall itemize each component by type and amount, including any refundable security deposit, advance monthly or other periodic payment, and capitalized cost reduction; and in motor-vehicle leases, shall itemize how the amount due will be paid, by type and amount, including any net trade-in allowance, rebates, noncash credits, and cash payments in a format substantially similar to the model forms in appendix A of this part. (c) Payment schedule and total amount of periodic payments. The number, amount, and due dates or periods of payments scheduled under the lease, and the total amount of the periodic payments. (d) Other charges. The total amount of other charges payable to the lessor, itemized by type and amount, that are not included in the periodic payments. Such charges include the amount of any liability the lease imposes upon the lessee at the end of the lease term; the potential difference between the residual and realized values referred to in paragraph (k) of this section is excluded. (e) Total of payments. The total of payments, with a description such as ``the amount you will have paid by the end of the lease.'' This amount is the sum of the amount due at lease signing (less any refundable amounts), the total amount of periodic payments (less any portion of the periodic payment paid at lease signing), and other charges under paragraphs (b), (c), and [[Page 370]] (d) of this section. In an open-end lease, a description such as ``you will owe an additional amount if the actual value of the vehicle is less than the residual value'' shall accompany the disclosure. (f) Payment calculation. In a motor-vehicle lease, a mathematical progression of how the scheduled periodic payment is derived, in a format substantially similar to the applicable model form in appendix A of this part, which shall contain the following: (1) Gross capitalized cost. The gross capitalized cost, including a disclosure of the agreed upon value of the vehicle, a description such as ``the agreed upon value of the vehicle [state the amount] and any items you pay for over the lease term (such as service contracts, insurance, and any outstanding prior credit or lease balance),'' and a statement of the lessee's option to receive a separate written itemization of the gross capitalized cost. If requested by the lessee, the itemization shall be provided before consummation. (2) Capitalized cost reduction. The capitalized cost reduction, with a description such as ``the amount of any net trade-in allowance, rebate, noncash credit, or cash you pay that reduces the gross capitalized cost.'' (3) Adjusted capitalized cost. The adjusted capitalized cost, with a description such as ``the amount used in calculating your base [periodic] payment.'' (4) Residual value. The residual value, with a description such as ``the value of the vehicle at the end of the lease used in calculating your base [periodic] payment.'' (5) Depreciation and any amortized amounts. The depreciation and any amortized amounts, which is the difference between the adjusted capitalized cost and the residual value, with a description such as ``the amount charged for the vehicle's decline in value through normal use and for any other items paid over the lease term.'' (6) Rent charge. The rent charge, with a description such as ``the amount charged in addition to the depreciation and any amortized amounts.'' This amount is the difference between the total of the base periodic payments over the lease term minus the depreciation and any amortized amounts. (7) Total of base periodic payments. The total of base periodic payments with a description such as ``depreciation and any amortized amounts plus the rent charge.'' (8) Lease payments. The lease payments with a description such as ``the number of payments in your lease.'' (9) Base periodic payment. The total of the base periodic payments divided by the number of payment periods in the lease. (10) Itemization of other charges. An itemization of any other charges that are part of the periodic payment. (11) Total periodic payment. The sum of the base periodic payment and any other charges that are part of the periodic payment. (g) Early termination--(1) Conditions and disclosure of charges. A statement of the conditions under which the lessee or lessor may terminate the lease prior to the end of the lease term; and the amount or a description of the method for determining the amount of any penalty or other charge for early termination, which must be reasonable. (2) Early-termination notice. In a motor-vehicle lease, a notice substantially similar to the following: ``Early Termination. You may have to pay a substantial charge if you end this lease early. The charge may be up to several thousand dollars. The actual charge will depend on when the lease is terminated. The earlier you end the lease, the greater this charge is likely to be.'' (h) Maintenance responsibilities. The following provisions are required: (1) Statement of responsibilities. A statement specifying whether the lessor or the lessee is responsible for maintaining or servicing the leased property, together with a brief description of the responsibility; (2) Wear and use standard. A statement of the lessor's standards for wear and use (if any), which must be reasonable; and (3) Notice of wear and use standard. In a motor-vehicle lease, a notice regarding wear and use substantially similar to the following: ``Excessive Wear and Use. You may be charged for excessive wear based on our standards for normal use.'' The notice shall also specify the [[Page 371]] amount or method for determining any charge for excess mileage. (i) Purchase option. A statement of whether or not the lessee has the option to purchase the leased property, and: (1) End of lease term. If at the end of the lease term, the purchase price; and (2) During lease term. If prior to the end of the lease term, the purchase price or the method for determining the price and when the lessee may exercise this option. (j) Statement referencing nonsegregated disclosures. A statement that the lessee should refer to the lease documents for additional information on early termination, purchase options and maintenance responsibilities, warranties, late and default charges, insurance, and any security interests, if applicable. (k) Liability between residual and realized values. A statement of the lessee's liability, if any, at early termination or at the end of the lease term for the difference between the residual value of the leased property and its realized value. (l) Right of appraisal. If the lessee's liability at early termination or at the end of the lease term is based on the realized value of the leased property, a statement that the lessee may obtain, at the lessee's expense, a professional appraisal by an independent third party (agreed to by the lessee and the lessor) of the value that could be realized at sale of the leased property. The appraisal shall be final and binding on the parties. (m) Liability at end of lease term based on residual value. If the lessee is liable at the end of the lease term for the difference between the residual value of the leased property and its realized value: (1) Rent and other charges. The rent and other charges, paid by the lessee and required by the lessor as an incident to the lease transaction, with a description such as ``the total amount of rent and other charges imposed in connection with your lease [state the amount].'' (2) Excess liability. A statement about a rebuttable presumption that, at the end of the lease term, the residual value of the leased property is unreasonable and not in good faith to the extent that the residual value exceeds the realized value by more than three times the base monthly payment (or more than three times the average payment allocable to a monthly period, if the lease calls for periodic payments other than monthly); and that the lessor cannot collect the excess amount unless the lessor brings a successful court action and pays the lessee's reasonable attorney's fees, or unless the excess of the residual value over the realized value is due to unreasonable or excessive wear or use of the leased property (in which case the rebuttable presumption does not apply). (3) Mutually agreeable final adjustment. A statement that the lessee and lessor are permitted, after termination of the lease, to make any mutually agreeable final adjustment regarding excess liability. (n) Fees and taxes. The total dollar amount for all official and license fees, registration, title, or taxes required to be paid in connection with the lease. (o) Insurance. A brief identification of insurance in connection with the lease including: (1) Through the lessor. If the insurance is provided by or paid through the lessor, the types and amounts of coverage and the cost to the lessee; or (2) Through a third party. If the lessee must obtain the insurance, the types and amounts of coverage required of the lessee. (p) Warranties or guarantees. A statement identifying all express warranties and guarantees from the manufacturer or lessor with respect to the leased property that apply to the lessee. (q) Penalties and other charges for delinquency. The amount or the method of determining the amount of any penalty or other charge for delinquency, default, or late payments, which must be reasonable. (r) Security interest. A description of any security interest, other than a security deposit disclosed under paragraph (b) of this section, held or to be retained by the lessor; and a clear identification of the property to which the security interest relates. (s) Limitations on rate information. If a lessor provides a percentage rate in an advertisement or in documents evidencing the lease transaction, a notice [[Page 372]] stating that ``this percentage may not measure the overall cost of financing this lease'' shall accompany the rate disclosure. The lessor shall not use the term ``annual percentage rate,'' ``annual lease rate,'' or any equivalent term. (t) Non-motor vehicle open-end leases. Non-motor vehicle open-end leases remain subject to section 182(10) of the act regarding end of term liability. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15367, Apr. 1, 1997; 63 FR 52109, Sept. 29, 1998] Sec. 213.5 Renegotiations, extensions, and assumptions. (a) Renegotiation. A renegotiation occurs when a consumer lease subject to this part is satisfied and replaced by a new lease undertaken by the same consumer. A renegotiation requires new disclosures, except as provided in paragraph (d) of this section. (b) Extension. An extension is a continuation, agreed to by the lessor and the lessee, of an existing consumer lease beyond the originally scheduled end of the lease term, except when the continuation is the result of a renegotiation. An extension that exceeds six months requires new disclosures, except as provided in paragraph (d) of this section. (c) Assumption. New disclosures are not required when a consumer lease is assumed by another person, whether or not the lessor charges an assumption fee. (d) Exceptions. New disclosures are not required for the following, even if they meet the definition of a renegotiation or an extension: (1) A reduction in the rent charge; (2) The deferment of one or more payments, whether or not a fee is charged; (3) The extension of a lease for not more than six months on a month-to-month basis or otherwise; (4) A substitution of leased property with property that has a substantially equivalent or greater economic value, provided no other lease terms are changed; (5) The addition, deletion, or substitution of leased property in a multiple-item lease, provided the average periodic payment does not change by more than 25 percent; or (6) An agreement resulting from a court proceeding. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15367, Apr. 1, 1997] Sec. 213.6 [Reserved] Sec. 213.7 Advertising. (a) General rule. An advertisement for a consumer lease may state that a specific lease of property at specific amounts or terms is available only if the lessor usually and customarily leases or will lease the property at those amounts or terms. (b) Clear and conspicuous standard. Disclosures required by this section shall be made clearly and conspicuously. (1) Amount due at lease signing or delivery. Except for the statement of a periodic payment, any affirmative or negative reference to a charge that is a part of the disclosure required under paragraph (d)(2)(ii) of this section shall not be more prominent than that disclosure. (2) Advertisement of a lease rate. If a lessor provides a percentage rate in an advertisement, the rate shall not be more prominent than any of the disclosures in Sec. 213.4, with the exception of the notice in Sec. 213.4(s) required to accompany the rate; and the lessor shall not use the term ``annual percentage rate,'' ``annual lease rate,'' or equivalent term. (c) Catalogs or other multipage advertisements; electronic advertisements. A catalog or other multipage advertisement , or an electronic advertisement (such as an advertisement appearing on an Internet Web site), that provides a table or schedule of the required disclosures shall be considered a single advertisement if, for lease terms that appear without all the required disclosures, the advertisement refers to the page or pages on which the table or schedule appears. (d) Advertisement of terms that require additional disclosure--(1) Triggering terms. An advertisement that states any of the following items shall contain the disclosures required by paragraph (d)(2) of this section, except as provided in paragraphs (e) and (f) of this section: (i) The amount of any payment; or [[Page 373]] (ii) A statement of any capitalized cost reduction or other payment (or that no payment is required) prior to or at consummation or by delivery, if delivery occurs after consummation. (2) Additional terms. An advertisement stating any item listed in paragraph (d)(1) of this section shall also state the following items: (i) That the transaction advertised is a lease; (ii) The total amount due prior to or at consummation or by delivery, if delivery occurs after consummation; (iii) The number, amounts, and due dates or periods of scheduled payments under the lease; (iv) A statement of whether or not a security deposit is required; and (v) A statement that an extra charge may be imposed at the end of the lease term where the lessee's liability (if any) is based on the difference between the residual value of the leased property and its realized value at the end of the lease term. (e) Alternative disclosures--merchandise tags. A merchandise tag stating any item listed in paragraph (d)(1) of this section may comply with paragraph (d)(2) of this section by referring to a sign or display prominently posted in the lessor's place of business that contains a table or schedule of the required disclosures. (f) Alternative disclosures--television or radio advertisements--(1) Toll-free number or print advertisement. An advertisement made through television or radio stating any item listed in paragraph (d)(1) of this section complies with paragraph (d)(2) of this section if the advertisement states the items listed in paragraphs (d)(2)(i) through (iii) of this section, and: (i) Lists a toll-free telephone number along with a reference that such number may be used by consumers to obtain the information required by paragraph (d)(2) of this section; or (ii) Directs the consumer to a written advertisement in a publication of general circulation in the community served by the media station, including the name and the date of the publication, with a statement that information required by paragraph (d)(2) of this section is included in the advertisement. The written advertisement shall be published beginning at least three days before and ending at least ten days after the broadcast. (2) Establishment of toll-free number. (i) The toll-free telephone number shall be available for no fewer than ten days, beginning on the date of the broadcast. (ii) The lessor shall provide the information required by paragraph (d)(2) of this section orally, or in writing upon request. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15368, Apr. 1, 1997; 63 FR 52109, Sept. 29, 1998; 72 FR 63461, Nov. 9, 2007] Sec. 213.8 Record retention. A lessor shall retain evidence of compliance with the requirements imposed by this part, other than the advertising requirements under Sec. 213.7, for a period of not less than two years after the date the disclosures are required to be made or an action is required to be taken. Sec. 213.9 Relation to state laws. (a) Inconsistent state law. A state law that is inconsistent with the requirements of the act and this part is preempted to the extent of the inconsistency. If a lessor cannot comply with a state law without violating a provision of this part, the state law is inconsistent within the meaning of section 186(a) of the act and is preempted, unless the state law gives greater protection and benefit to the consumer. A state, through an official having primary enforcement or interpretative responsibilities for the state consumer leasing law, may apply to the Board for a preemption determination. (b) Exemptions--(1) Application. A state may apply to the Board for an exemption from the requirements of the act and this part for any class of lease transactions within the state. The Board will grant such an exemption if the Board determines that: (i) The class of leasing transactions is subject to state law requirements substantially similar to the act and this part or that lessees are afforded greater protection under state law; and (ii) There is adequate provision for state enforcement. (2) Enforcement and liability. After an exemption has been granted, the requirements of the applicable state law [[Page 374]] (except for additional requirements not imposed by federal law) will constitute the requirements of the act and this part. No exemption will extend to the civil liability provisions of sections 130, 131, and 185 of the act. Sec. Appendix A to Part 213--Model Forms A-1 Model Open-End or Finance Vehicle Lease Disclosures A-2 Model Closed-End or Net Vehicle Lease Disclosures A-3 Model Furniture Lease Disclosures [[Page 375]] [GRAPHIC] [TIFF OMITTED] TR29SE98.000 [[Page 376]] [GRAPHIC] [TIFF OMITTED] TR29SE98.001 [[Page 377]] [GRAPHIC] [TIFF OMITTED] TR29SE98.002 [[Page 378]] [GRAPHIC] [TIFF OMITTED] TR29SE98.003 [[Page 379]] [GRAPHIC] [TIFF OMITTED] TR29SE98.004 [[Page 380]] [GRAPHIC] [TIFF OMITTED] TR29SE98.005 [Reg. M, 63 FR 52110, Sept. 29, 1998] Sec. Appendix B to Part 213--Federal Enforcement Agencies The following list indicates which federal agency enforces Regulation M (12 CFR Part 213) for particular classes of business. Any questions concerning compliance by a particular business should be directed to the appropriate enforcement agency. Terms that are not defined in the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in the International Banking Act of 1978 (12 U.S.C. 3101). 1. National banks and federal branches and federal agencies of foreign banks District office of the Office of the Comptroller of the Currency for the district in which the institution is located. 2. State member banks, branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act Federal Reserve Bank serving the District in which the institution is located. 3. Nonmember insured banks and insured state branches of foreign banks Federal Deposit Insurance Corporation Regional Director for the region in which the institution is located. 4. Savings institutions insured under the Savings Association Insurance Fund of the FDIC and federally chartered savings banks insured under the Bank Insurance Fund of the FDIC (but not including state-chartered savings banks insured under the Bank Insurance Fund) Office of Thrift Supervision regional director for the region in which the institution is located. 5. Federal credit unions Regional office of the National Credit Union Administration serving the area in which the federal credit union is located. 6. Air carriers Assistant General Counsel for Aviation Enforcement and Proceedings, Department of Transportation, 400 Seventh Street, S.W., Washington, DC 20590 7. Those subject to Packers and Stockyards Act Nearest Packers and Stockyards Administration area supervisor. 8. Federal Land Banks, Federal Land Bank Associations, Federal Intermediate Credit Banks, and Production Credit Associations Farm Credit Administration, 490 L'Enfant Plaza, S.W., Washington, DC 20578 9. All other lessors (lessors operating on a local or regional basis should use the address of the FTC regional office in which they operate) Division of Credit Practices, Bureau of Consumer Protection, Federal Trade Commission, Washington, DC 20580 Sec. Appendix C to Part 213--Issuance of Staff Interpretations Officials in the Board's Division of Consumer and Community Affairs are authorized to issue official staff interpretations of this Regulation M (12 CFR Part 213). These interpretations provide the formal protection afforded under section 130(f) of the act. Except in unusual circumstances, interpretations will not be issued separately but will be incorporated in an official commentary to Regulation M (Supplement I of this part), which will be amended periodically. No staff interpretations will be issued approving lessor's forms, statements, or calculation tools or methods. Sec. Supplement I to Part 213--Official Staff Commentary to Regulation M Introduction 1. Official status. The commentary in Supplement I is the vehicle by which the Division of Consumer and Community Affairs of [[Page 381]] the Federal Reserve Board issues official staff interpretations of Regulation M (12 CFR part 213). Good faith compliance with this commentary affords protection from liability under section 130(f) of the Truth in Lending Act (15 U.S.C. 1640(f)). Section 130(f) protects lessors from civil liability for any act done or omitted in good faith in conformity with any interpretation issued by a duly authorized official or employee of the Federal Reserve System. 2. Procedures for requesting interpretations. Under appendix C of Regulation M, anyone may request an official staff interpretation. Interpretations that are adopted will be incorporated in this commentary following publication in the Federal Register. No official staff interpretations are expected to be issued other than by means of this commentary. 3. Comment designations. Each comment in the commentary is identified by a number and the regulatory section or paragraph that it interprets. The comments are designated with as much specificity as possible according to the particular regulatory provision addressed. For example, some of the comments to Sec. 213.4(f) are further divided by subparagraph, such as comment 4(f)(1)-1 and comment 4(f)(2)-1. In other cases, comments have more general application and are designated, for example, as comment 4(a)-1. This introduction may be cited as comments I-1 through I-4. An appendix may be cited as comment app. A-1. 4. Illustrations. Lists that appear in the commentary may be exhaustive or illustrative; the appropriate construction should be clear from the context. Illustrative lists are introduced by phrases such as ``including,'' ``such as,'' ``to illustrate,'' and ``for example.'' Section 213.1--Authority, Scope, Purpose, and Enforcement 1. Foreign applicability. Regulation M applies to all persons (including branches of foreign banks or leasing companies located in the United States) that offer consumer leases to residents of any state (including foreign nationals) as defined in Sec. 213.2(p). The regulation does not apply to a foreign branch of a U.S. bank or to a leasing company leasing to a U.S. citizen residing or visiting abroad or to a foreign national abroad. Section 213.2--Definitions 2(b) Advertisement 1. Coverage. The term advertisement includes messages inviting, offering, or otherwise generally announcing to prospective customers the availability of consumer leases, whether in visual, oral, print or electronic media. Examples include: i. Messages in newspapers, magazines, leaflets, catalogs, and fliers. ii. Messages on radio, television, and public address systems. iii. Direct mail literature. iv. Printed material on any interior or exterior sign or display, in any window display, in any point-of-transaction literature or price tag that is delivered or made available to a lessee or prospective lessee in any manner whatsoever. v. Telephone solicitations. vi. On-line messages, such as those on the Internet. 2. Exclusions. The term does not apply to the following: i. Direct personal contacts, including follow-up letters, cost estimates for individual lessees, or oral or written communications relating to the negotiation of a specific transaction. ii. Informational material distributed only to businesses. iii. Notices required by federal or state law, if the law mandates that specific information be displayed and only the mandated information is included in the notice. iv. News articles controlled by the news medium. v. Market research or educational materials that do not solicit business. 3. Persons covered. See the commentary to Sec. 213.7(a). 2(d) Closed-End Lease 1. General. In closed-end leases, sometimes referred to as ``walk- away'' leases, the lessee is not responsible for the residual value of the leased property at the end of the lease term. 2(e) Consumer Lease. 1. Primary purposes. A lessor must determine in each case if the leased property will be used primarily for personal, family, or household purposes. If a question exists as to the primary purpose for a lease, the fact that a lessor gives disclosures is not controlling on the question of whether the transaction is covered. The primary purpose of a lease is determined before or at consummation and a lessor need not provide Regulation M disclosures where there is a subsequent change in the primary use. 2. Period of time. To be a consumer lease, the initial term of the lease must be more than four months. Thus, a lease of personal property for four months, three months or on a month-to-month or week-to-week basis (even though the lease actually extends beyond four months) is not a consumer lease and is not subject to the disclosure requirements of the regulation. However, a lease that imposes a penalty for not continuing the lease beyond four months is considered to have a term of more than four months. To illustrate: [[Page 382]] i. A three-month lease extended on a month-to-month basis and terminated after one year is not subject to the regulation. ii. A month-to-month lease with a penalty, such as the forfeiture of a security deposit for terminating before one year, is subject to the regulation. 3. Total contractual obligation. The total contractual obligation is not necessarily the same as the total of payments disclosed under Sec. 213.4(e). The total contractual obligation includes nonrefundable amounts a lessee is contractually obligated to pay to the lessor, but excludes items such as: i. Residual value amounts or purchase-option prices; ii. Amounts collected by the lessor but paid to a third party, such as taxes, licenses, and registration fees. 4. Credit sale. The regulation does not cover a lease that meets the definition of a credit sale in Regulation Z, 12 CFR 226.2(a)(16), which is defined, in part, as a bailment or lease (unless terminable without penalty at any time by the consumer) under which the consumer: i. Agrees to pay as compensation for use a sum substantially equivalent to, or in excess of, the total value of the property and services involved; and ii. Will become (or has the option to become), for no additional consideration or for nominal consideration, the owner of the property upon compliance with the agreement. 5. Agricultural purpose. Agricultural purpose means a purpose related to the production, harvest, exhibition, marketing, transportation, processing, or manufacture of agricultural products by a natural person who cultivates, plants, propagates, or nurtures those agricultural products, including but not limited to the acquisition of personal property and services used primarily in farming. Agricultural products include horticultural, viticultural, and dairy products, livestock, wildlife, poultry, bees, forest products, fish and shellfish, and any products thereof, including processed and manufactured products, and any and all products raised or produced on farms and any processed or manufactured products thereof. 6. Organization or other entity. A consumer lease does not include a lease made to an organization such as a corporation or a government agency or instrumentality. Such a lease is not covered by the regulation even if the leased property is used (by an employee, for example) primarily for personal, family or household purposes, or is guaranteed by or subsequently assigned to a natural person. 7. Leases of personal property incidental to a service. The following leases of personal property are deemed incidental to a service and thus are not subject to the regulation: i. Home entertainment systems requiring the consumer to lease equipment that enables a television to receive the transmitted programming. ii. Security alarm systems requiring the installation of leased equipment intended to monitor unlawful entries into a home and in some cases to provide fire protection. iii. Propane gas service where the consumer must lease a propane tank to receive the service. 8. Safe deposit boxes. The lease of a safe deposit box is not a consumer lease under Sec. 213.2(e). 9. Threshold amount. A consumer lease is exempt from the requirements of this part if the total contractual obligation exceeds the threshold amount in effect at the time of consummation. The threshold amount in effect during a particular time period is the amount stated in comment 2(e)-11 for that period. The threshold amount is adjusted effective January 1 of each year by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) that was in effect on the preceding June 1. Comment 2(e)-11 will be amended to provide the threshold amount for the upcoming year after the annual percentage change in the CPI-W that was in effect on June 1 becomes available. Any increase in the threshold amount will be rounded to the nearest $100 increment. For example, if the annual percentage increase in the CPI-W would result in a $950 increase in the threshold amount, the threshold amount will be increased by $1,000. However, if the annual percentage increase in the CPI-W would result in a $949 increase in the threshold amount, the threshold amount will be increased by $900. If a consumer lease is exempt from the requirements of this part because the total contractual obligation exceeds the threshold amount in effect at the time of consummation, the lease remains exempt regardless of a subsequent increase in the threshold amount. 10. No increase in the CPI-W. If the CPI-W in effect on June 1 does not increase from the CPI-W in effect on June 1 of the previous year, the threshold amount effective the following January 1 through December 31 will not change from the previous year. When this occurs, for the years that follow, the threshold is calculated based on the annual percentage change in the CPI-W applied to the dollar amount that would have resulted, after rounding, if decreases and any subsequent increases in the CPI-W had been taken into account. i. Net increases. If the resulting amount calculated, after rounding, is greater than the current threshold, then the threshold effective January 1 the following year will increase accordingly. ii. Net decreases. If the resulting amount calculated, after rounding, is equal to or less than the current threshold, then the threshold effective January 1 the following year [[Page 383]] will not change, but future increases will be calculated based on the amount that would have resulted. 11. Threshold. For purposes of Sec. 213.2(e)(1), the threshold amount in effect during a particular period is the amount stated below for that period. i. Prior to July 21, 2011, the threshold amount is $25,000. ii. From July 21, 2011 through December 31, 2011, the threshold amount is $50,000. iii. From January 1, 2012 through December 31, 2012, the threshold amount is $51,800. iv. From January 1, 2013 through December 31, 2013, the threshold amount is $53,000. v. From January 1, 2014 through December 31, 2014, the threshold amount is $53,500. vi. From January 1, 2015 through December 31, 2015, the threshold amount is $54,600. vii. From January 1, 2016 through December 31, 2016, the threshold amount is $54,600. viii. From January 1, 2017 through December 31, 2017, the threshold amount is $54,600. ix. From January 1, 2018 through December 31, 2018, the threshold amount is $55,800. x. From January 1, 2019 through December 31, 2019, the threshold amount is $57,200. xi. From January 1, 2020 through December 31, 2020, the threshold amount is $58,300. xii. From January 1, 2021 through December 31, 2021, the threshold amount is $58,300. xiii. From January 1, 2022 through December 31, 2022, the threshold amount is $61,000. xiv. From January 1, 2023 through December 31, 2023, the threshold amount is $66,400. 2(g) Lessee 1. Guarantors. Guarantors are not lessees for purposes of the regulation. 2(h) Lessor 1. Arranger of a lease. To ``arrange'' for the lease of personal property means to provide or offer to provide a lease that is or will be extended by another person under a business or other relationship pursuant to which the person arranging the lease (a) receives or will receive a fee, compensation, or other consideration for the service or (b) has knowledge of the lease terms and participates in the preparation of the contract documents required in connection with the lease. To illustrate: i. An automobile dealer who, pursuant to a business relationship, completes the necessary lease agreement before forwarding it for execution to the leasing company (to whom the obligation is payable on its face) is ``arranging'' for the lease. ii. An automobile dealer who, without receiving a fee for the service, refers a customer to a leasing company that will prepare all relevant contract documents is not ``arranging'' for the lease. 2. Consideration. The term ``other consideration'' as used in comment 2(h)-1 refers to an actual payment corresponding to a fee or similar compensation and not to intangible benefits, such as the advantage of increased business, which may flow from the relationship between the parties. 3. Assignees. An assignee may be a lessor for purposes of the regulation in circumstances where the assignee has substantial involvement in the lease transaction. See cf. Ford Motor Credit Co. v. Cenance, 452 U.S. 155 (1981) (held that an assignee was a creditor for purposes of the pre-1980 Truth in Lending Act and Regulation Z because of its substantial involvement in the credit transaction). 4. Multiple lessors. See the commentary to Sec. 213.3(c). 2(j) Organization 1. Coverage. The term ``organization'' includes joint ventures and persons operating under a business name. 2(l) Personal Property 1. Coverage. Whether property is personal property depends on state or other applicable law. For example, a mobile home or houseboat may be considered personal property in one state but real property in another. 2(m) Realized Value 1. General. Realized value refers to either the retail or wholesale value of the leased property at early termination or at the end of the lease term. It is not a required disclosure. Realized value is relevant only to leases in which the lessee's liability at early termination or at the end of the lease term typically is based on the difference between the residual value (or the adjusted lease balance) of the leased property and its realized value. 2. Options. Subject to the contract and to state or other applicable law, the lessor may calculate the realized value in determining the lessee's liability at the end of the lease term or at early termination in one of the three ways stated in Sec. 213.2(m). If the lessor sells the property prior to making the determination about liability, the price received for the property (or the fair market value) is the realized value. If the lessor does not sell the property prior to making that determination, the highest offer or the fair market value is the realized value. 3. Determination of realized value. Disposition charges are not subtracted in determining the realized value but amounts attributable to taxes may be subtracted. 4. Offers. In determining the highest offer for disposition, the lessor may disregard offers that an offeror has withdrawn or is unable or unwilling to perform. 5. Lessor's appraisal. See commentary to Sec. 213.4(l). [[Page 384]] 2(o) Security Interest and Security 1. Disclosable interests. For purposes of disclosure, a security interest is an interest taken by the lessor to secure performance of the lessee's obligation. For example, if a bank that is not a lessor makes a loan to a leasing company and takes assignments of consumer leases generated by that company to secure the loan, the bank's security interest in the lessor's receivables is not a security interest for purposes of this regulation. 2. General coverage. An interest the lessor may have in leased property must be disclosed only if it is considered a security interest under state or other applicable law. The term includes, but is not limited to, security interests under the Uniform Commercial Code; real property mortgages, deeds of trust, and other consensual or confessed liens whether or not recorded; mechanic's, materialman's, artisan's, and other similar liens; vendor's liens in both real and personal property; liens on property arising by operation of law; and any interest in a lease when used to secure payment or performance of an obligation. 3. Insurance exception. The lessor's right to insurance proceeds or unearned insurance premiums is not a security interest for purposes of this regulation. Section 213.3--General Disclosure Requirements 3(a) General Requirements 1. Basis of disclosures. Disclosures must reflect the terms of the legal obligation between the parties. For example: i. In a three-year lease with no penalty for termination after a one-year minimum term, disclosures are based on the full three-year term of the lease. The one-year minimum term is only relevant to the early termination provisions of Sec. Sec. 213.4 (g)(1), (k) and (l). 2. Clear and conspicuous standard. The clear and conspicuous standard requires that disclosures be reasonably understandable. For example, the disclosures must be presented in a way that does not obscure the relationship of the terms to each other; appendix A of this part contains model forms that meet this standard. In addition, although no minimum typesize is required, the disclosures must be legible, whether typewritten, handwritten, or printed by computer. 3. Multipurpose disclosure forms. A lessor may use a multipurpose disclosure form provided the lessor is able to designate the specific disclosures applicable to a given transaction, consistent with the requirement that disclosures be clearly and conspicuously provided. 4. Number of transactions. Lessors have flexibility in handling lease transactions that may be viewed as multiple transactions. For example: i. When a lessor leases two items to the same lessee on the same day, the lessor may disclose the leases as either one or two lease transactions. ii. When a lessor sells insurance or other incidental services in connection with a lease, the lessor may disclose in one of two ways: as a single lease transaction (in which case Regulation M, not Regulation Z, disclosures are required) or as a lease transaction and a credit transaction. iii. When a lessor includes an outstanding lease or credit balance in a lease transaction, the lessor may disclose the outstanding balance as part of a single lease transaction (in which case Regulation M, not Regulation Z, disclosures are required) or as a lease transaction and a credit transaction. 3(a)(1) Form of Disclosures 1. Cross-references. Lessors may include in the nonsegregated disclosures a cross-reference to items in the segregated disclosures rather than repeat those items. A lessor may include in the segregated disclosures numeric or alphabetic designations as cross-references to related information so long as such references do not obscure or detract from the segregated disclosures. 2. Identification of parties. While disclosures must be made clearly and conspicuously, lessors are not required to use the word ``lessor'' and ``lessee'' to identify the parties to the lease transaction. 3. Lessor's address. The lessor must be identified by name; an address (and telephone number) may be provided. 4. Multiple lessors and lessees. In transactions involving multiple lessors and multiple lessees, a single lessor may make all the disclosures to a single lessee as long as the disclosure statement identifies all the lessors and lessees. 5. Lessee's signature. The regulation does not require that the lessee sign the disclosure statement, whether disclosures are separately provided or are part of the lease contract. Nevertheless, to provide evidence that disclosures are given before a lessee becomes obligated on the lease transaction, the lessor may, for example, ask the lessee to sign the disclosure statement or an acknowledgement of receipt, may place disclosures that are included in the lease documents above the lessee's signature, or include instructions alerting a lessee to read the disclosures prior to signing the lease. 3(a)(2) Segregation of Certain Disclosures 1. Location. The segregated disclosures referred to in Sec. 213.3(a)(2) may be provided on a separate document and the other required disclosures may be provided in the lease contract, so long as all disclosures are given at the same time. Alternatively, all disclosures [[Page 385]] may be provided in a separate document or in the lease contract. 2. Additional information among segregated disclosures. The disclosures required to be segregated may contain only the information required or permitted to be included among the segregated disclosures. 3. Substantially similar. See commentary to appendix A of this part. 3(a)(3) Timing of Disclosures 1. Consummation. When a contractual relationship is created between the lessor and the lessee is a matter to be determined under state or other applicable law. 3(b) Additional Information; Nonsegregated Disclosures 1. State law disclosures. A lessor may include in the nonsegregated disclosures any state law disclosures that are not inconsistent with the act and regulation under Sec. 213.9 as long as, in accordance with the standard set forth in Sec. 213.3(b) for additional information, the state law disclosures are not used or placed to mislead or confuse or detract from any disclosure required by the regulation. 3(c) Multiple Lessors or Lessees 1. Multiple lessors. If a single lessor provides disclosures to a lessee on behalf of several lessors, all disclosures for the transaction must be given, even if the lessor making the disclosures would not otherwise have been obligated to make a particular disclosure. 3(d) Use of Estimates 3(d)(1) Standard 1. Time of estimated disclosure. The lessor may, after making a reasonable effort to obtain information, use estimates to make disclosures if necessary information is unknown or unavailable at the time the disclosures are made. 2. Basis of estimates. Estimates must be made on the basis of the best information reasonably available at the time disclosures are made. The ``reasonably available'' standard requires that the lessor, acting in good faith, exercise due diligence in obtaining information. The lessor may rely on the representations of other parties. For example, the lessor might look to the consumer to determine the purpose for which leased property will be used, to insurance companies for the cost of insurance, or to an automobile manufacturer or dealer for the date of delivery. See commentary to Sec. 213.4(n) for estimating official fees and taxes. 3. Residual value of leased property at termination. In an open-end lease where the lessee's liability at the end of the lease term is based on the residual value of the leased property as determined at consummation, the estimate of the residual value must be reasonable and based on the best information reasonably available to the lessor (see Sec. 213.4(m)). A lessor should generally use an accepted trade publication listing estimated current or future market prices for the leased property unless other information or a reasonable belief based on its experience provides the better information. For example: i. An automobile lessor offering a three-year open-end lease assigns a wholesale value to the vehicle at the end of the lease term. The lessor may disclose as an estimate a wholesale value derived from a generally accepted trade publication listing current wholesale values. ii. Same facts as above, except that the lessor discloses an estimated value derived by adjusting the residual value quoted in the trade publication because, in its experience, the trade publication values either understate or overstate the prices actually received in local used-vehicle markets. The lessor may adjust estimated values quoted in trade publications if the lessor reasonably believes based on its experience that the values are understated or overstated. 4. Retail or wholesale value. The lessor may choose either a retail or a wholesale value in estimating the value of leased property at termination of an open-end lease provided the choice is consistent with the lessor's general practice when determining the value of the property at the end of the lease term. The lessor should indicate whether the value disclosed is a retail or wholesale value. 5. Labelling estimates. Generally, only the disclosure for which the exact information is unknown is labelled as an estimate. Nevertheless, when several disclosures are affected because of the unknown information, the lessor has the option of labelling as an estimate every affected disclosure or only the disclosure primarily affected. 3(e) Effect of Subsequent Occurrence 1. Subsequent occurrences. Examples of subsequent occurrences include: i. An agreement between the lessee and lessor to change from a monthly to a weekly payment schedule. ii. An increase in official fees or taxes. iii. An increase in insurance premiums or coverage caused by a change in the law. iv. Late delivery of an automobile caused by a strike. 2. Redisclosure. When a disclosure becomes inaccurate because of a subsequent occurrence, the lessor need not make new disclosures unless new disclosures are required under Sec. 213.5. 3. Lessee's failure to perform. The lessor does not violate the regulation if a previously given disclosure becomes inaccurate when a lessee fails to perform obligations under the contract and a lessor takes actions that are [[Page 386]] necessary and proper in such circumstances to protect its interest. For example, the addition of insurance or a security interest by the lessor because the lessee has not performed obligations contracted for in the lease is not a violation of the regulation. Section 213.4--Content of Disclosures 4(a) Description of Property 1. Placement of description. Although the description of leased property may not be included among the segregated disclosures, a lessor may choose to place the description directly above the segregated disclosures. 4(b) Amount Due at Lease Signing or Delivery 1. Consummation. See commentary to Sec. 213.3(a)(3). 2. Capitalized cost reduction. A capitalized cost reduction is a payment in the nature of a downpayment on the leased property that reduces the amount to be capitalized over the term of the lease. This amount does not include any amounts included in a periodic payment paid at lease signing or delivery. 3. ``Negative'' equity trade-in allowance. If an amount owed on a prior lease or credit balance exceeds the agreed upon value of a trade- in, the difference is not reflected as a negative trade-in allowance under Sec. 213.4(b). The lessor may disclose the trade-in allowance as zero or not applicable, or may leave a blank line. 4. Rebates. Only rebates applied toward an amount due at lease signing or delivery are required to be disclosed under Sec. 213.4(b). 5. Balance sheet approach. In motor-vehicle leases, the total for the column labeled ``total amount due at lease signing or delivery'' must equal the total for the column labeled ``how the amount due at lease signing or delivery will be paid.'' 6. Amounts to be paid in cash. The term cash is intended to include payments by check or other payment methods in addition to currency; however, a lessor may add a line item under the column ``how the amount due at lease signing or delivery will be paid'' for non-currency payments such as credit cards. 4(c) Payment Schedule and Total Amount of Periodic Payments 1. Periodic payments. The phrase ``number, amount, and due dates or periods of payments'' requires the disclosure of all payments that are made at regular or irregular intervals and generally derived from rent, capitalized or amortized amounts such as depreciation, and other amounts that are collected by the lessor at the same interval(s), including, for example, taxes, maintenance, and insurance charges. Other periodic payments may, but need not, be disclosed under Sec. 213.4(c). 4(d) Other charges 1. Coverage. Section 213.4(d) requires the disclosure of charges that are anticipated by the parties incident to the normal operation of the lease agreement. If a lessor is unsure whether a particular fee is an ``other charge,'' the lessor may disclose the fee as such without violating Sec. 213.4(d) or the segregation rule under Sec. 213.3(a)(2). 2. Excluded charges. This section does not require disclosure of charges that are imposed when the lessee terminates early, fails to abide by, or modifies the terms of the existing lease agreement, such as charges for: i. Late payment. ii. Default. iii. Early termination. iv. Deferral of payments. v. Extension of the lease. 3. Third-party fees and charges. Third-party fees or charges collected by the lessor on behalf of third parties, such as taxes, are not disclosed under Sec. 213.4(d). 4. Relationship to other provisions. The other charges mentioned in this paragraph are charges that are not required to be disclosed under some other provision of Sec. 213.4. To illustrate: i. The price of a mechanical breakdown protection (MBP) contract is sometimes disclosed as an ``other charge.'' Nevertheless, the price of MBP is sometimes reflected in the periodic payment disclosure under Sec. 213.4(c) or in states where MBP is regarded as insurance, the cost is be disclosed in accordance with Sec. 213.4(o). 5. Lessee's liabilities at the end of the lease term. Liabilities that the lessor imposes upon the lessee at the end of the scheduled lease term and that must be disclosed under Sec. 213.4(d) include disposition and ``pick-up'' charges. 6. Optional ``disposition'' charges. Disposition and similar charges that are anticipated by the parties as an incident to the normal operation of the lease agreement must be disclosed under Sec. 213.4(d). If, under a lease agreement, a lessee may return leased property to various locations, and the lessor charges a disposition fee depending upon the location chosen, under Sec. 213.4(d), the lessor must disclose the highest amount charged. In such circumstances, the lessor may also include a brief explanation of the fee structure in the segregated disclosure. For example, if no fee or a lower fee is imposed for returning a leased vehicle to the originating dealer as opposed to another location, that fact may be disclosed. By contrast, if the terms of the lease treat the return of the leased property to a location outside the lessor's service area as a default, the fee imposed is not disclosed as an ``other charge,'' although it may be required to be disclosed under Sec. 213.4(q). [[Page 387]] 4(e) Total of payments 1. Open-end lease. The additional statement is required under Sec. 213.4(e) for open-end leases because, with some limitations, a lessee is liable at the end of the lease term for the difference between the residual and realized values of the leased property. 4(f) Payment Calculation 1. Motor-vehicle lease. Whether leased property is a motor vehicle is determined by state or other applicable law. 2. Multiple-items. If a lease transaction involves multiple items of leased property, one of which is not a motor vehicle under state law, at their option, lessors may include all items in the disclosures required under Sec. 213.4(f). See comment 3(a)-4 regarding disclosure of multiple transactions. 4(f)(1) Gross Capitalized Cost 1. Agreed upon value of the vehicle. The agreed upon value of a motor vehicle includes the amount of capitalized items such as charges for vehicle accessories and options, and delivery or destination charges. The lessor may also include taxes and fees for title, licenses, and registration that are capitalized. Charges for service or maintenance contracts, insurance products, guaranteed automobile protection, or an outstanding balance on a prior lease or credit transaction are not included in the agreed upon value. 2. Itemization of the gross capitalized cost. The lessor may choose to provide the itemization of the gross capitalized cost only on request or may provide the itemization as a matter of course. In the latter case, the lessor need not provide a statement of the lessee's option to receive an itemization. The gross capitalized cost must be itemized by type and amount. The lessor may include in the itemization an identification of the items and amounts of some or all of the items contained in the agreed upon value of the vehicle. The itemization must be provided at the same time as the other disclosures required by Sec. 213.4, but it may not be included among the segregated disclosures. 4(f)(7) Total of Base Periodic Payment 1. Accuracy of disclosure. If the periodic payment calculation under Sec. 213.4(f) has been calculated correctly, the amount disclosed under Sec. 213.4(f)(7)--the total of base periodic payments--is correct for disclosure purposes even if that amount differs from the base periodic payment disclosed under Sec. 213.4(f)(9) multiplied by the number of lease payments disclosed under Sec. 213.4(f)(8), when the difference is due to rounding. 4(f)(8) Lease Payment 1. Lease Term. The lease term may be disclosed among the segregated disclosures. 4(g) Early Termination 4(g)(1) Conditions and Disclosure of Charges 1. Reasonableness of charges. See the commentary to Sec. 213.4(q). 2. Description of the method. Section 213.4(g)(1) requires a full description of the method of determining an early termination charge. The lessor should attempt to provide consumers with clear and understandable descriptions of its early termination charges. Descriptions that are full, accurate, and not intended to be misleading will comply with Sec. 213.4(g)(1), even if the descriptions are complex. In providing a full description of an early termination method, a lessor may use the name of a generally accepted method of computing the unamortized cost portion (also known as the ``adjusted lease balance'') of its early termination charges. For example, a lessor may state that the ``constant yield'' method will be utilized in obtaining the adjusted lease balance, but must specify how that figure, and any other term or figure, is used in computing the total early termination charge imposed upon the consumer. Additionally, if a lessor refers to a named method in this manner, the lessor must provide a written explanation of that method if requested by the consumer. The lessor has the option of providing the explanation as a matter of course in the lease documents or on a separate document. 3. Timing of written explanation of a named method. While a lessor may provide an address or telephone number for the consumer to request a written explanation of the named method used to calculate the adjusted leased balance, if at consummation a consumer requests such an explanation, the lessor must provide a written explanation at that time. If a consumer requests an explanation after consummation, the lessor must provide a written explanation within a reasonable time after the request is made. 4. Default. When default is a condition for early termination of a lease, default charges must be disclosed under Sec. 213.4(g)(1). See the commentary to Sec. 213.4(q). 5. Lessee's liability at early termination. When the lessee is liable for the difference between the unamortized cost and the realized value at early termination, the method of determining the amount of the difference must be disclosed under Sec. 213.4(g)(1). 4(h) Maintenance Responsibilities 1. Standards for wear and use. No disclosure is required if a lessor does not set standards or impose charges for wear and use (such as excess mileage). [[Page 388]] 4(i) Purchase Option 1. Mandatory disclosure of no purchase option. Generally the lessor need only make the specific required disclosures that apply to a transaction. In the case of a purchase option disclosure, however, a lessor must disclose affirmatively that the lessee has no option to purchase the leased property if the purchase option is inapplicable. 2. Existence of purchase option. Whether a purchase option exists under the lease is determined by state or other applicable law. The lessee's right to submit a bid to purchase property at termination of the lease is not an option to purchase under Sec. 213.4(i) if the lessor is not required to accept the lessee's bid and the lessee does not receive preferential treatment. 3. Purchase-option fee. A purchase-option fee is disclosed under Sec. 213.4(i), not Sec. 213.4(d). The fee may be separately itemized or disclosed as part of the purchase-option price. 4. Official fees and taxes. Official fees such as those for taxes, licenses, and registration charged in connection with the exercise of a purchase option may be disclosed under Sec. 213.4(i) as part of the purchase-option price (with or without a reference to their inclusion in that price) or may be separately disclosed and itemized by category. Alternatively, a lessor may provide a statement indicating that the purchase-option price does not include fees for tags, taxes, and registration. 5. Purchase-option price. Lessors must disclose the purchase-option price as a sum certain or as a sum certain to be determined at a future date by reference to a readily available independent source. The reference should provide sufficient information so that the lessee will be able to determine the actual price when the option becomes available. Statements of a purchase price as the ``negotiated price'' or the ``fair market value'' do not comply with the requirements of Sec. 213.4(i). 4(j) Statement referencing nonsegregated disclosures 1. Content. A lessor may delete inapplicable items from the disclosure. For example, if a lease contract does not include a security interest, the reference to a security interest may be omitted. 4(l) Right of appraisal 1. Disclosure inapplicable. The lessee does not have the right to an independent appraisal merely because the lessee is liable at the end of the lease term or at early termination for unreasonable wear or use. Thus, the disclosure under Sec. 213.4(l) does not apply. For example: i. The automobile lessor might expect a lessee to return an undented car with four good tires at the end of the lease term. Even though it may hold the lessee liable for the difference between a dented car with bald tires and the value of a car in reasonably good repair, the disclosure under Sec. 213.4(l) is not required. 2. Lessor's appraisal. If the lessor obtains an appraisal of the leased property to determine its realized value, that appraisal does not suffice for purposes of section 183(c) of the act; the lessor must disclose the lessee's right to an independent appraisal under Sec. 213.4(l). 3. Retail or wholesale. In providing the disclosures in Sec. 213.4(l), a lessor must indicate whether the wholesale or retail appraisal value will be used. 4. Time restriction on appraisal. The regulation does not specify a time period in which the lessee must exercise the appraisal right. The lessor may require a lessee to obtain the appraisal within a reasonable time after termination of the lease. 4(m) Liability at end of Lease Term Based on Residual Value 1. Open-end leases. Section 213.4(m) applies only to open-end leases. 2. Lessor's payment of attorney's fees. Section 183(a) of the act requires that the lessor pay the lessee's attorney's fees in all actions under Sec. 213.4(m), whether successful or not. 4(m)(1) Rent and other charges 1. General. This disclosure is intended to represent the cost of financing an open-end lease based on charges and fees that the lessor requires the lessee to pay. Examples of disclosable charges, in addition to the rent charge, include acquisition, disposition, or assignment fees. Charges imposed by a third party whose services are not required by the lessor (such as official fees and voluntary insurance) are not included in the Sec. 213.4(m)(1) disclosure. 4(m)(2) Excess liability 1. Coverage. The disclosure limiting the lessee's liability for the value of the leased property does not apply in the case of early termination. 2. Leases with a minimum term. If a lease has an alternative minimum term, the disclosures governing the liability limitation are not applicable for the minimum term. 3. Charges not subject to rebuttable presumption. The limitation on liability applies only to liability at the end of the lease term that is based on the difference between the residual value of the leased property and its realized value. The regulation does not preclude a lessor from recovering other charges from the lessee at the end of the lease term. Examples of such charges include: i. Disposition charges. ii. Excess mileage charges. iii. Late payment and default charges. [[Page 389]] iv. In simple-interest accounting leases, amount by which the unamortized cost exceeds the residual value because the lessee has not made timely payments. 4(n) Fees and taxes 1. Treatment of certain taxes. Taxes paid in connection with the lease are generally disclosed under Sec. 213.4(n), but there are exceptions. To illustrate: i. Taxes paid by lease signing or delivery are disclosed under Sec. 213.4(b) and Sec. 213.4(n). ii. Taxes that are part of the scheduled payments are reflected in the disclosure under Sec. 213.4(c), (f), and (n). iii. A tax payable by the lessor that is passed on to the consumer and is reflected in the lease documentation must be disclosed under Sec. 213.4(n). A tax payable by the lessor and absorbed as a cost of doing business need not be disclosed. iv. Taxes charged in connection with the exercise of a purchase option are disclosed under Sec. 213.4(i), not Sec. 213.4(n). 2. Estimates. In disclosing the total amount of fees and taxes under Sec. 213.4(n), lessors may need to base the disclosure on estimated tax rates or amounts and are afforded great flexibility in doing so. Where a rate is applied to the future value of leased property, lessors have flexibility in estimating that value, including, but not limited to, using the mathematical average of the agreed upon value and the residual value or published valuation guides; or a lessor could prepare estimates using the agreed upon value and disclose a reasonable estimate of the total fees and taxes. Lessors may include a statement that the actual total of fees and taxes may be higher or lower depending on the tax rates in effect or the value of the leased property at the time a fee or tax is assessed. 4(o) Insurance 1. Coverage. If insurance is obtained through the lessor, information on the type and amount of insurance coverage (whether voluntary or required) as well as the cost, must be disclosed. 2. Lessor's insurance. Insurance purchased by the lessor primarily for its own benefit, and absorbed as a business expense and not separately charged to the lessee, need not be disclosed under Sec. 213.4(o) even if it provides an incidental benefit to the lessee. 3. Mechanical breakdown protection and other products. Whether products purchased in conjunction with a lease, such as mechanical breakdown protection (MBP) or guaranteed automobile protection (GAP), should be treated as insurance is determined by state or other applicable law. In states that do not treat MBP or GAP as insurance, Sec. 213.4(o) disclosures are not required. In such cases the lessor may, however, disclose this information in accordance with the additional information provision in Sec. 213.3(b). For MBP insurance contracts not capped by a dollar amount, lessors may describe coverage by referring to a limitation by mileage or time period, for example, by indicating that the mechanical breakdown contract insures parts of the automobile for up to 100,000 miles. 4(p) Warranties or Guarantees 1. Brief identification. The statement identifying warranties may be brief and need not describe or list all warranties applicable to specific parts such as for air conditioning, radio, or tires in an automobile. For example, manufacturer's warranties may be identified simply by a reference to the standard manufacturer's warranty. If a lessor provides a comprehensive list of warranties that may not all apply, to comply with Sec. 213.4(p) the lessor must indicate which warranties apply or, alternatively, which warranties do not apply. 2. Warranty disclaimers. Although a disclaimer of warranties is not required by the regulation, the lessor may give a disclaimer as additional information in accordance with Sec. 213.3(b). 3. State law. Whether an express warranty or guaranty exists is determined by state or other law. 4(q) Penalties and Other Charges for Delinquency 1. Collection costs. The automatic imposition of collection costs or attorney fees upon default must be disclosed under Sec. 213.4(q). Collection costs or attorney fees that are not imposed automatically, but are contingent upon expenditures in conjunction with a collection proceeding or upon the employment of an attorney to effect collection, need not be disclosed. 2. Charges for early termination. When default is a condition for early termination of a lease, default charges must also be disclosed under Sec. 213.4(g)(1). The Sec. 213.4(q) and (g)(1) disclosures may, but need not, be combined. Examples of combined disclosures are provided in the model lease disclosure forms in appendix A. 3. Simple-interest leases. In a simple-interest accounting lease, the additional rent charge that accrues on the lease balance when a periodic payment is made after the due date does not constitute a penalty or other charge for late payment. Similarly, continued accrual of the rent charge after termination of the lease because the lessee fails to return the leased property does not constitute a default charge. But in either case, if the additional charge accrues at a rate higher than the normal rent charge, the lessor must disclose the amount of or the method of determining the additional charge under Sec. 213.4(q). [[Page 390]] 4. Extension charges. Extension charges that exceed the rent charge in a simple-interest accounting lease or that are added separately are disclosed under Sec. 213.4(q). 5. Reasonableness of charges. Pursuant to section 183(b) of the act, penalties or other charges for delinquency, default, or early termination may be specified in the lease but only in an amount that is reasonable in light of the anticipated or actual harm caused by the delinquency, default, or early termination, the difficulties of proof of loss, and the inconvenience or nonfeasibility of otherwise obtaining an adequate remedy. 4(r) Security Interest 1. Disclosable security interests. See Sec. 213.2(o) and accompanying commentary to determine what security interests must be disclosed. 4(s) Limitations on Rate Information 1. Segregated disclosures. A lease rate may not be included among the segregated disclosures referenced in Sec. 213.3(a)(2). Section 213.5--Renegotiations, Extensions and Assumptions 1. Coverage. Section 213.5 applies only to existing leases that are covered by the regulation. It does not apply to the renegotiation or extension of leases with an initial term of four months or less, because such leases are not covered by the definition of consumer lease in. Sec. 213.2(e). Whether and when a lease is satisfied and replaced by a new lease is determined by state or other applicable law. 5(a) Renegotiations 1. Basis of disclosures. Lessors have flexibility in making disclosures so long as they reflect the legal obligation under the renegotiated lease. For example, assume that a 24-month lease is replaced by a 36-month lease. The initial lease began on January 1, 1998, and was renegotiated and replaced on July 1, 1998, so that the new lease term ends on January 1, 2001. i. If the renegotiated lease covers the 36-month period beginning January 1, 1998, the new disclosures would reflect all payments made by the lessee on the initial lease and all payments on the renegotiated lease. In this example, since the renegotiated lease covers a 36-month period beginning January 1, 1998, the disclosures must reflect payments made since that date. On the model form, the ``total of base periodic payments'' disclosed under Sec. 213.4(f)(7) should reflect periodic payments to be made over the entire 36-month term. Payments received since January 1, 1998, are added as a new line item disclosed as ``total of payments received'' and are subtracted from the ``total of base periodic payments'' in calculating a new item disclosed as the ``total of base periodic payments remaining.'' For example, if 6 monthly payments of $300 were received since January 1, 1998, the disclosure form should include a ``total of base periodic payments'' line from which $1,800 is subtracted to arrive at the ``total of base periodic payments remaining.'' The remainder of the disclosures would not change. ii. If the renegotiated lease covers only the remaining 30 months, from July 1, 1998, to January 1, 2001, the disclosures would reflect only the charges incurred in connection with the renegotiation and the payments for the remaining period. 5(b) Extensions 1. Time of extension disclosures. If a consumer lease is extended for a specified term greater than six months, new disclosures are required at the time the extension is agreed upon. If the lease is extended on a month-to-month basis and the cumulative extensions exceed six months, new disclosures are required at the commencement of the seventh month and at the commencement of each seventh month thereafter for as long as the extensions continue. If a consumer lease is extended for terms of varying durations, one of which will exceed six months beyond the originally scheduled termination date of the lease, new disclosures are required at the commencement of the term that will exceed six months beyond the originally scheduled termination date. 2. Content of disclosures for month-to-month extensions. The disclosures for a lease extended on a month-to-month basis for more than six months should reflect the month-to-month nature of the transaction. 3. Basis of disclosures. The disclosures should be based on the extension period, including any upfront costs paid in connection with the extension. For example, assume that initially a lease ends on March 1, 1999. In January 1999, agreement is reached to extend the lease until October 1, 1999. The disclosure would include any extension fee paid in January and the periodic payments for the seven-month extension period beginning in March. Section 213.6 [Reserved] Section 213.7--Advertising 7(a) General Rule 1. Persons covered. All ``persons'' must comply with the advertising provisions in this section, not just those that meet the definition of a lessor in Sec. 213.2(h). Thus, automobile dealers, merchants, and others who are not themselves lessors must comply with the advertising provisions of the regulation if they advertise consumer lease transactions. Pursuant to section 184(b) of the act, however, owners and personnel of the media in which [[Page 391]] an advertisement appears or through which it is disseminated are not subject to civil liability for violations under section 185(b) of the act. 2. ``Usually and customarily.'' Section 213.7(a) does not prohibit the advertising of a single item or the promotion of a new leasing program, but prohibits the advertising of terms that are not and will not be available. Thus, an advertisement may state terms that will be offered for only a limited period or terms that will become available at a future date. 3. Total contractual obligation of advertised lease. Section 213.7 applies to advertisements for consumer leases, as defined in Sec. 213.2(e). Under Sec. 213.2(e), a consumer lease is exempt from the requirements of this Part if the total contractual obligation exceeds the threshold amount in effect at the time of consummation. See comment 2(e)-9. Accordingly, Sec. 213.7 does not apply to an advertisement for a specific consumer lease if the total contractual obligation for that lease exceeds the threshold amount in effect when the advertisement is made. If a lessor promotes multiple consumer leases in a single advertisement, the entire advertisement must comply with Sec. 213.7 unless all of the advertised leases are exempt under Sec. 213.2(e). For example A. Assume that, in an advertisement, a lessor states that certain terms apply to a consumer lease for a specific automobile. The total contractual obligation of the advertised lease exceeds the threshold amount in effect when the advertisement is made. Although the advertisement does not refer to any other lease, some or all of the advertised terms for the exempt lease also apply to other leases offered by the lessor with total contractual obligations that do not exceed the applicable threshold amount. The advertisement is not required to comply with Sec. 213.7 because it refers only to an exempt lease. B. Assume that, in an advertisement, a lessor states certain terms (such as the amount due at lease signing) that will apply to consumer leases for automobiles of a particular brand. However, the advertisement does not refer to a specific lease. The total contractual obligations of the leases for some of the automobiles will exceed the threshold amount in effect when the advertisement is made, but the total contractual obligations of the leases for other automobiles will not exceed the threshold. The entire advertisement must comply with Sec. 213.7 because it refers to terms for consumer leases that are not exempt. C. Assume that, in a single advertisement, a lessor states that certain terms apply to consumer leases for two different automobiles. The total contractual obligation of the lease for the first automobile exceeds the threshold amount in effect when the advertisement is made, but the total contractual obligation of the lease for the second automobile does not exceed the threshold. The entire advertisement must comply with Sec. 213.7 because it refers to a consumer lease that is not exempt. 7(b) Clear and Conspicuous Standard 1. Standard. The disclosures in an advertisement in any media must be reasonably understandable. For example, very fine print in a television advertisement or detailed and very rapidly stated information in a radio advertisement does not meet the clear and conspicuous standard if consumers cannot see and read or hear, and cannot comprehend, the information required to be disclosed. 7(b)(1) Amount due at Lease Signing or Delivery 1. Itemization not required. Only a total of amounts due at lease signing or delivery is required to be disclosed, not an itemization of its component parts. Such an itemization is provided in any transaction- specific disclosures provided under Sec. 213.4. 2. Prominence rule. Except for a periodic payment, oral or written references to components of the total due at lease signing or delivery (for example, a reference to a capitalized cost reduction, where permitted) may not be more prominent than the disclosure of the total amount due at lease signing or delivery. 7(b)(2) Advertisement of a Lease Rate 1. Location of statement. The notice required to accompany a percentage rate stated in an advertisement must be placed in close proximity to the rate without any other intervening language or symbols. For example, a lessor may not place an asterisk next to the rate and place the notice elsewhere in the advertisement. In addition, with the exception of the notice required by Sec. 213.4(s), the rate cannot be more prominent than any other Sec. 213.4 disclosure stated in the advertisement. 7(c) Catalogs or Other Multi-Page Advertisements; Electronic Advertisements 1. General rule. The multiple-page advertisements referred to in Sec. 213.7(c) are advertisements consisting of a series of numbered pages--for example, a supplement to a newspaper. A mailing comprising several separate flyers or pieces of promotional material in a single envelope is not a single multiple-page advertisement. 2. Cross references. A catalog or other multiple-page advertisement or an electronic advertisement (such as an advertisement appearing on an Internet Web site) is a single advertisement (requiring only one set of lease disclosures) if it contains a table, [[Page 392]] chart, or schedule with the disclosures required under Sec. 213.7(d)(2)(i) through (v). If one of the triggering terms listed in Sec. 213.7(d)(1) appears in a catalog, or in a multiple-page or electronic advertisement, it must clearly direct the consumer to the page or location where the table, chart, or schedule begins. For example, in an electronic advertisement, a term triggering additional disclosures may be accompanied by a link that directly connects the consumer to the additional information. 7(d)(1) Triggering Terms 1. Typical example. When any triggering term appears in a lease advertisement, the additional terms enumerated in Sec. 213.7(d)(2) (i) through (v) must also appear. In a multi-lease advertisement, an example of one or more typical leases with a statement of all the terms applicable to each may be used. The examples must be labeled as such and must reflect representative lease terms that are made available by the lessor to consumers. 7(d)(2) Additional Terms 1. Third-party fees that vary by state or locality. The disclosure of a periodic payment or total amount due at lease signing or delivery may: i. Exclude third-party fees, such as taxes, licenses, and registration fees and disclose that fact; or ii. Provide a periodic payment or total that includes third-party fees based on a particular state or locality as long as that fact and the fact that fees may vary by state or locality are disclosed. 7(e) Alternative Disclosures--Merchandise Tags 1. Multiple-item leases. Multiple-item leases that utilize merchandise tags requiring additional disclosures may use the alternate disclosure rule. 7(f) Alternative Disclosures--Television or Radio Advertisements 7(f)(1) Toll-Free Number or Print Advertisement 1. Publication in general circulation. A reference to a written advertisement appearing in a newspaper circulated nationally, for example, USA Today or the Wall Street Journal, may satisfy the general circulation requirement in Sec. 213.7(f)(1)(ii). 2. Toll-free number, local or collect calls. In complying with the disclosure requirements of Sec. 213.7(f)(1)(i), a lessor must provide a toll-free number for nonlocal calls made from an area code other than the one used in the lessor's dialing area. Alternatively, a lessor may provide any telephone number that allows a consumer to reverse the phone charges when calling for information. 3. Multi-purpose number. When an advertised toll-free number responds with a recording, lease disclosures must be provided early in the sequence to ensure that the consumer receives the required disclosures. For example, in providing several dialing options--such as providing directions to the lessor's place of business--the option allowing the consumer to request lease disclosures should be provided early in the telephone message to ensure that the option to request disclosures is not obscured by other information. 4. Statement accompanying toll free number. Language must accompany a telephone and television number indicating that disclosures are available by calling the toll-free number, such as ``call 1-800-000-0000 for details about costs and terms.'' Section 213.8--Record Retention 1. Manner of retaining evidence. A lessor must retain evidence of having performed required actions and of having made required disclosures. Such records may be retained in paper form, on microfilm, microfiche, or computer, or by any other method designed to reproduce records accurately. The lessor need retain only enough information to reconstruct the required disclosures or other records. Section 213.9--Relation to State Laws 1. Exemptions granted. Effective October 1, 1982, the Board granted the following exemptions from portions of the Consumer Leasing Act: i. Maine. Lease transactions subject to the Maine Consumer Credit Code and its implementing regulations are exempt from chapters 2, 4, and 5 of the federal act. (The exemption does not apply to transactions in which a federally chartered institution is a lessor.) ii. Oklahoma. Lease transactions subject to the Oklahoma Consumer Credit Code are exempt from chapters 2 and 5 of the federal act. (The exemption does not apply to sections 132 through 135 of the federal act, nor does it apply to transactions in which a federally chartered institution is a lessor.) Appendix A--Model Forms 1. Permissible changes. Although use of the model forms is not required, lessors using them properly will be deemed to be in compliance with the regulation. Generally, lessors may make certain changes in the format or content of the forms and may delete any disclosures that are inapplicable to a transaction without losing the act's protection from liability. For example, the model form based on monthly periodic payments may be modified for single-payment lease [[Page 393]] transactions or for quarterly or other regular or irregular periodic payments. The model form may also be modified to reflect that a transaction is an extension. The content, format, and headings for the segregated disclosures must be substantially similar to those contained in the model forms; therefore, any changes should be minimal. The changes to the model forms should not be so extensive as to affect the substance and the clarity of the disclosures. 2. Examples of acceptable changes. i. Using the first person, instead of the second person, in referring to the lessee. ii. Using ``lessee,'' ``lessor,'' or names instead of pronouns. iii. Rearranging the sequence of the nonsegregated disclosures. iv. Incorporating certain state ``plain English'' requirements. v. Deleting or blocking out inapplicable disclosures, filling in ``N/A'' (not applicable) or ``0,'' crossing out, leaving blanks, checking a box for applicable items, or circling applicable items (this should facilitate use of multipurpose standard forms). vi. Adding language or symbols to indicate estimates. vii. Adding numeric or alphabetic designations. viii. Rearranging the disclosures into vertical columns, except for Sec. 213.4 (b) through (e) disclosures. ix. Using icons and other graphics. 3. Model closed-end or net vehicle lease disclosure. Model A-2 is designed for a closed-end or net vehicle lease. Under the ``Early Termination and Default'' provision a reference to the lessee's right to an independent appraisal of the leased vehicle under Sec. 213.4(l) is included for those closed-end leases in which the lessee's liability at early termination is based on the vehicle's realized value. 4. Model furniture lease disclosures. Model A-3 is a closed-end lease disclosure statement designed for a typical furniture lease. It does not include a disclosure of the appraisal right at early termination required under Sec. 213.4(l) because few closed-end furniture leases base the lessee's liability at early termination on the realized value of the leased property. The disclosure should be added if it is applicable. [Reg. M, 62 FR 16058, Apr. 4, 1997] Editorial Note: For Federal Register citations affecting supplement I to part 213, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.fdsys.gov. PART 214_RELATIONS WITH FOREIGN BANKS AND BANKERS (REGULATION N)- -Table of Contents Regulations Sec. 214.1 Scope of part. 214.2 Information to be furnished to the Board. 214.3 Conferences and negotiations with foreign banks, bankers, or States. 214.4 Agreements with foreign banks, bankers, or States, and participation in foreign accounts. 214.5 Accounts with foreign banks. 214.6 Amendments. Authority: 12 U.S.C. 248, 348a, 358, 632. Source: Reg. N, 8 FR 17290, Dec. 24, 1943, unless otherwise noted. Regulations Sec. 214.1 Scope of part. Pursuant to the authority conferred upon it by section 14 of the Federal Reserve Act, as amended (40 Stat. 235, 48 Stat. 181; 12 U.S.C. 358, 348a), and by other provisions of law, the Board of Governors of the Federal Reserve System prescribes the following regulations governing relationships and transactions between Federal Reserve Banks and foreign banks or bankers or groups of foreign banks, or bankers, or a foreign State as defined in section 25(b) of the Federal Reserve Act (55 Stat. 131; 12 U.S.C. 632). Sec. 214.2 Information to be furnished to the Board. In order that the Board of Governors of the Federal Reserve System may perform its statutory duty of exercising special supervision over all relationships and transactions of any kind entered into by any Federal Reserve Bank with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State, each Federal Reserve Bank shall promptly submit to the Board of Governors of the Federal Reserve System in writing full information concerning all existing relationships and transactions of any kind heretofore entered into by such Federal Reserve Bank with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State and [[Page 394]] copies of all written agreements between it and any foreign bank or banker or any group of foreign banks or bankers or any foreign State which are now in force, unless copies have heretofore been furnished to the Board. Each Federal Reserve Bank shall also keep the Board of Governors of the Federal Reserve System promptly and fully advised of all transactions with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State, except transactions of a routine character. Sec. 214.3 Conferences and negotiations with foreign banks, bankers, or States. (a) Without first obtaining the permission of the Board of Governors of the Federal Reserve System, no officer or other representative of any Federal Reserve Bank shall conduct negotiations of any kind with the officers or representatives of any foreign bank or banker or any group of foreign banks or bankers of any foreign State, except communications in the ordinary course of business in connection with transactions pursuant to agreements previously approved by the Board of Governors of the Federal Reserve System. Any request for the Board's permission to conduct any such negotiations shall be submitted in writing and shall include a full statement of the occasion and objects of the proposed negotiations. (b) The Board of Governors of the Federal Reserve System reserves the right, in its discretion, to be represented by such representatives as it may designate in any negotiations between any officer or other representative of any Federal Reserve Bank and any officers or representatives of any foreign bank or banker or any group of foreign banks or bankers or any foreign State; and the Board shall be given reasonable notice in advance of the time and place of any such negotiations; and may itself designate the time and place of any such negotiations. (c) A full report of all such conferences or negotiations and all understandings or agreements arrived at or transactions agreed upon and all other material facts appertaining to such conferences or negotiations shall be filed with the Board of Governors of the Federal Reserve System in writing by a duly authorized officer of each Federal Reserve Bank which shall have participated in such conferences or negotiations, including copies of all correspondence appertaining thereto. Sec. 214.4 Agreements with foreign banks, bankers, or States, and participation in foreign accounts. (a) No Federal Reserve Bank shall enter into any agreement, contract, or understanding with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State without first obtaining the permission of the Board of Governors of the Federal Reserve System. (b) When any Federal Reserve Bank, with the approval of the Board of Governors of the Federal Reserve System, has opened an account for any foreign bank or banker or group of foreign banks or bankers or for any foreign State, or has entered into any agreement, contract, or understanding with reference to opening or maintaining such an account, or with reference to any other matter or matters, any other Federal Reserve Bank may participate in such account, or in such agreement, contract, or understanding, and in operations and transactions performed therein or pursuant thereto, with the approval of the Board of Governors of the Federal Reserve System. Sec. 214.5 Accounts with foreign banks. (a) Any Federal Reserve Bank, with the consent of the Board, may open and maintain accounts payable in foreign currencies with such foreign banks as may be designated by the Board. (b) Notwithstanding other provisions of this part, any officer or other representatives of the Federal Reserve Bank which maintains an account with a foreign bank may conduct such negotiations and enter into such agreements, contracts, or understandings with such foreign bank as may be authorized or directed by the Federal Open Market Committee in order to effectuate the conduct of open market transactions of the Federal Reserve Banks incident to the opening, maintenance, operation, increase, reduction, or discontinuance of such account; and, [[Page 395]] in any such case, such negotiations, agreements, contracts, or understandings shall be subject to such authorizations, directions, regulations, and limitations as may be prescribed by, or pursuant to authority of, the Federal Open Market Committee. (c) Any Federal Reserve Bank may, when authorized or directed so to do by, or under the authority of, the Federal Open Market Committee, carry on or conduct, through any other Federal Reserve Bank which maintains an account with a foreign bank, any open market transactions authorized by section 14 of the Federal Reserve Act. Transactions authorized by section 14 which are not open market transactions may be carried on or conducted through such other Federal Reserve Bank only with the approval of the Board. (d) Notwithstanding other provisions of this part, reports with respect to any accounts opened and maintained, and negotiations, agreements, contracts, and understandings entered into, pursuant to this section shall be made to the Board at least quarterly, and more frequently if so requested by the Board, by a duly authorized officer of the Federal Reserve Bank involved. [Reg. N, 27 FR 1719, Feb. 22, 1962] Sec. 214.6 Amendments. The Board of Governors of the Federal Reserve System reserves the right, in its discretion, to alter, amend or repeal these regulations and to prescribe such additional regulations, conditions, and limitations as it may deem desirable, respecting relationships and transactions of any kind entered into by any Federal Reserve Bank with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State. [Reg. N, 8 FR 17290, Dec. 24, 1943. Redesignated at 27 FR 1719, Feb. 22, 1962] PART 215_LOANS TO EXECUTIVE OFFICERS, DIRECTORS, AND PRINCIPAL SHAREHOLDERS OF MEMBER BANKS (REGULATION O)--Table of Contents Sec. 215.1 Authority, purpose, and scope. 215.2 Definitions. 215.3 Extension of credit. 215.4 General prohibitions. 215.5 Additional restrictions on loans to executive officers of member banks. 215.6 Prohibition on knowingly receiving unauthorized extension of credit. 215.7 Extensions of credit outstanding on March 10, 1979. 215.8 Records of member banks. 215.9 Disclosure of credit from member banks to executive officers and principal shareholders. 215.10 Reporting requirement for credit secured by certain bank stock. 215.11 Civil penalties. 215.12 Application to savings associations. Appendix to Part 215--Section 5200 of the Revised Statutes Total Loans and Extensions of Credit Authority: 12 U.S.C. 248(a), 375a(10), 375b(9) and (10), 1468, 1817(k), 5412; and Pub. L. 102-242, 105 Stat. 2236 (1991) (12 U.S.C. 1811 note). Source: Reg. O, 59 FR 8837, Feb. 24, 1994, unless otherwise noted. Sec. 215.1 Authority, purpose, and scope. (a) Authority. This part is issued pursuant to sections 11(a), 22(g), and 22(h) of the Federal Reserve Act (12 U.S.C. 248(a), 375a, and 375b), 12 U.S.C. 1817(k), section 306 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (Pub. L. 102-242, 105 Stat. 2236 (1991)), section 11 of the Home Owners' Loan Act (12 U.S.C. 1468), and section 312(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5412). (b) Purpose and scope. (1) This part governs any extension of credit made by a member bank to an executive officer, director, or principal shareholder of the member bank, of any company of which the member bank is a subsidiary, and of any other subsidiary of that company. (2) This part also applies to any extension of credit made by a member bank to a company controlled by such a person, or to a political or campaign committee that benefits or is controlled by such a person. (3) This part also implements the reporting requirements of 12 U.S.C. 1817(k) concerning extensions of credit by a member bank to its executive officers or principal shareholders (or to the related interests of such persons). (4) Extensions of credit made to an executive officer, director, or principal [[Page 396]] shareholder of a bank (or to a related interest of such person) by a correspondent bank also are subject to restrictions set forth in 12 U.S.C. 1972(2). [Reg. O, 71 FR 71474, Dec. 11, 2006, as amended at 76 FR 56530, Sept. 13, 2011] Sec. 215.2 Definitions. For purposes of this part, the following definitions apply unless otherwise specified: (a) Affiliate means any company of which a member bank is a subsidiary or any other subsidiary of that company. (b) Company means any corporation, partnership, trust (business or otherwise), association, joint venture, pool syndicate, sole proprietorship, unincorporated organization, or any other form of business entity not specifically listed herein. However, the term does not include: (1) An insured depository institution (as defined in 12 U.S.C. 1813); or (2) A corporation the majority of the shares of which are owned by the United States or by any State. (c)(1) Control of a company or bank means that a person directly or indirectly, or acting through or in concert with one or more persons: (i) Owns, controls, or has the power to vote 25 percent or more of any class of voting securities of the company or bank; (ii) Controls in any manner the election of a majority of the directors of the company or bank; or (iii) Has the power to exercise a controlling influence over the management or policies of the company or bank. (2) A person is presumed to have control, including the power to exercise a controlling influence over the management or policies, of a company or bank if: (i) The person is: (A) An executive officer or director of the company or bank; and (B) Directly or indirectly owns, controls, or has the power to vote more than 10 percent of any class of voting securities of the company or bank; or (ii)(A) The person directly or indirectly owns, controls, or has the power to vote more than 10 percent of any class of voting securities of the company or bank; and (B) No other person owns, controls, or has the power to vote a greater percentage of that class of voting securities. (3) An individual is not considered to have control, including the power to exercise a controlling influence over the management or policies, of a company or bank solely by virtue of the individual's position as an officer or director of the company or bank. (4) A person may rebut a presumption established by paragraph (c)(2) of this section by submitting to the appropriate Federal banking agency (as defined in 12 U.S.C. 1813(q)) written materials that, in the agency's judgment, demonstrate an absence of control. (d)(1) Director of a company or bank means any director of the company or bank, whether or not receiving compensation. An advisory director is not considered a director if the advisory director: (i) Is not elected by the shareholders of the company or bank; (ii) Is not authorized to vote on matters before the board of directors; and (iii) Provides solely general policy advice to the board of directors. (2) Extensions of credit to a director of an affiliate of a bank are not subject to Sec. Sec. 215.4, 215.6, and 215.8 if-- (i) The director of the affiliate is excluded, by resolution of the board of directors or by the bylaws of the bank, from participation in major policymaking functions of the bank, and the director does not actually participate in such functions; (ii) The affiliate does not control the bank; (iii) As determined annually, the assets of the affiliate do not constitute more than 10 percent of the consolidated assets of the company that-- (A) Controls the bank; and (B) Is not controlled by any other company; and (iv) The director of the affiliate is not otherwise subject to Sec. Sec. 215.4, 215.6, and 215.8. (3) For purposes of paragraph (d)(2)(i) of this section, a resolution of the board of directors or a corporate bylaw may-- [[Page 397]] (i) Include the director (by name or by title) in a list of persons excluded from participation in such functions; or (ii) Not include the director in a list of persons authorized (by name or by title) to participate in such functions. (e)(1) Executive officer of a company or bank means a person who participates or has authority to participate (other than in the capacity of a director) in major policymaking functions of the company or bank, whether or not: the officer has an official title; the title designates the officer an assistant; or the officer is serving without salary or other compensation. \1\ The chairman of the board, the president, every vice president, the cashier, the secretary, and the treasurer of a company or bank are considered executive officers, unless the officer is excluded, by resolution of the board of directors or by the bylaws of the bank or company, from participation (other than in the capacity of a director) in major policymaking functions of the bank or company, and the officer does not actually participate therein. --------------------------------------------------------------------------- \1\ The term is not intended to include persons who may have official titles and may exercise a certain measure of discretion in the performance of their duties, including discretion in the making of loans, but who do not participate in the determination of major policies of the bank or company and whose decisions are limited by policy standards fixed by the senior management of the bank or company. For example, the term does not include a manager or assistant manager of a branch of a bank unless that individual participates, or is authorized to participate, in major policymaking functions of the bank or company. --------------------------------------------------------------------------- (2) Extensions of credit to an executive officer of an affiliate of a bank are not subject to Sec. Sec. 215.4, 215.6, and 215.8 if-- (i) The executive officer is excluded, by resolution of the board of directors or by the bylaws of the bank, from participation in major policymaking functions of the bank, and the executive officer does not actually participate in such functions; (ii) The affiliate does not control the bank; (iii) As determined annually, the assets of the affiliate do not constitute more than 10 percent of the consolidated assets of the company that-- (A) Controls the bank; and (B) Is not controlled by any other company; and (iv) The executive officer of the affiliate is not otherwise subject to Sec. Sec. 215.4, 215.6, and 215.8. (3) For purposes of paragraphs (e)(1) and (e)(2)(i) of this section, a resolution of the board of directors or a corporate bylaw may-- (i) Include the executive officer (by name or by title) in a list of persons excluded from participation in such functions; or (ii) Not include the executive officer in a list of persons authorized (by name or by title) to participate in such functions. (f) Foreign bank has the meaning given in 12 U.S.C. 3101(7). (g) Immediate family means the spouse of an individual, the individual's minor children, and any of the individual's children (including adults) residing in the individual's home. (h) Insider means an executive officer, director, or principal shareholder, and includes any related interest of such a person. (i) Lending limit. The lending limit for a member bank is an amount equal to the limit of loans to a single borrower established by section 5200 of the Revised Statutes,\2\ 12 U.S.C. 84. This amount is 15 percent of the bank's unimpaired capital and unimpaired surplus in the case of loans that are not fully secured, and an additional 10 percent of the bank's unimpaired capital and unimpaired surplus in the case of loans that are fully secured by readily marketable collateral having a market value, as determined by reliable and continuously available price quotations, at least equal to the amount of the loan. The lending limit also includes any higher amounts that are permitted by section 5200 of the Revised Statutes for the types of obligations listed therein as exceptions to [[Page 398]] the limit. A member bank's unimpaired capital and unimpaired surplus equals: --------------------------------------------------------------------------- \2\ Where State law establishes a lending limit for a State member bank that is lower than the amount permitted in section 5200 of the Revised Statutes, the lending limit established by applicable State laws shall be the lending limit for the State member bank. --------------------------------------------------------------------------- (1) The bank's tier 1 and tier 2 capital included in the bank's risk-based capital under the capital rule of the appropriate Federal banking agency, based on the bank's most recent consolidated report of condition filed under 12 U.S.C. 1817(a)(3); and (2) The balance of the bank's allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, not included in the bank's tier 2 capital for purposes of the calculation of risk-based capital under the capital rule of the appropriate Federal banking agency, based on the bank's most recent consolidated reports of condition filed under 12 U.S.C. 1817(a)(3). (3) Notwithstanding paragraphs (i)(1) and (2) of this section, for a member bank that is a qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), unimpaired capital and unimpaired surplus equals Tier 1 capital (as defined in Sec. 217.12 of this chapter and calculated in accordance with Sec. 217.12(b) of this chapter) plus allowances for loan and lease losses or adjusted allowance for credit losses, as applicable. (j) Member bank means any banking institution that is a member of the Federal Reserve System, including any subsidiary of a member bank. The term does not include any foreign bank that maintains a branch in the United States, whether or not the branch is insured (within the meaning of 12 U.S.C. 1813(s)) and regardless of the operation of 12 U.S.C. 1813(h) and 12 U.S.C. 1828(j)(3)(B). (k) Pay an overdraft on an account means to pay an amount upon the order of an account holder in excess of funds on deposit in the account. (l) Person means an individual or a company. (m)(1) Principal shareholder means a person (other than an insured bank) that directly or indirectly, or acting through or in concert with one or more persons, owns, controls, or has the power to vote more than 10 percent of any class of voting securities of a member bank or company. Shares owned or controlled by a member of an individual's immediate family are considered to be held by the individual. (2) A principal shareholder of a member bank does not include a company of which a member bank is a subsidiary. (n) Related interest of a person means: (1) A company that is controlled by that person; or (2) A political or campaign committee that is controlled by that person or the funds or services of which will benefit that person. (o) Subsidiary has the meaning given in 12 U.S.C. 1841(d), but does not include a subsidiary of a member bank. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994, as amended at 60 FR 31054, June 13, 1995; 61 FR 57770, Nov. 8, 1996; 62 FR 13298, Mar. 20, 1997; 71 FR 71474, Dec. 11, 2006; 84 FR 4241, Feb. 14, 2019; 84 FR 61797, Nov. 13, 2019] Sec. 215.3 Extension of credit. (a) An extension of credit is a making or renewal of any loan, a granting of a line of credit, or an extending of credit in any manner whatsoever, and includes: (1) A purchase under repurchase agreement of securities, other assets, or obligations; (2) An advance by means of an overdraft, cash item, or otherwise; (3) Issuance of a standby letter of credit (or other similar arrangement regardless of name or description) or an ineligible acceptance, as those terms are defined in Sec. 208.24 of this chapter; (4) An acquisition by discount, purchase, exchange, or otherwise of any note, draft, bill of exchange, or other evidence of indebtedness upon which an insider may be liable as maker, drawer, endorser, guarantor, or surety; (5) An increase of an existing indebtedness, but not if the additional funds are advanced by the bank for its own protection for: (i) Accrued interest; or (ii) Taxes, insurance, or other expenses incidental to the existing indebtedness; (6) An advance of unearned salary or other unearned compensation for a period in excess of 30 days; and [[Page 399]] (7) Any other similar transaction as a result of which a person becomes obligated to pay money (or its equivalent) to a bank, whether the obligation arises directly or indirectly, or because of an endorsement on an obligation or otherwise, or by any means whatsoever. (b) An extension of credit does not include: (1) An advance against accrued salary or other accrued compensation, or an advance for the payment of authorized travel or other expenses incurred or to be incurred on behalf of the bank; (2) A receipt by a bank of a check deposited in or delivered to the bank in the usual course of business unless it results in the carrying of a cash item for or the granting of an overdraft (other than an inadvertent overdraft in a limited amount that is promptly repaid, as described in Sec. 215.4(e) of this part); (3) An acquisition of a note, draft, bill of exchange, or other evidence of indebtedness through: (i) A merger or consolidation of banks or a similar transaction by which a bank acquires assets and assumes liabilities of another bank or similar organization; or (ii) Foreclosure on collateral or similar proceeding for the protection of the bank, provided that such indebtedness is not held for a period of more than three years from the date of the acquisition, subject to extension by the appropriate Federal banking agency for good cause; (4)(i) An endorsement or guarantee for the protection of a bank of any loan or other asset previously acquired by the bank in good faith; or (ii) Any indebtedness to a bank for the purpose of protecting the bank against loss or of giving financial assistance to it; (5) Indebtedness of $15,000 or less arising by reason of any general arrangement by which a bank: (i) Acquires charge or time credit accounts; or (ii) Makes payments to or on behalf of participants in a bank credit card plan, check credit plan, or similar open-end credit plan, provided: (A) The indebtedness does not involve prior individual clearance or approval by the bank other than for the purposes of determining authority to participate in the arrangement and compliance with any dollar limit under the arrangement; and (B) The indebtedness is incurred under terms that are not more favorable than those offered to the general public; (6) Indebtedness of $5,000 or less arising by reason of an interest- bearing overdraft credit plan of the type specified in Sec. 215.4(e); (7) A discount of promissory notes, bills of exchange, conditional sales contracts, or similar paper, without recourse; or (8) Except for purposes of Sec. 215.5 of this part, a loan: (i) Made pursuant to the ``Paycheck Protection Program'' in which the participation by the Small Business Administration on a deferred basis is 100 percent; (ii) For which material terms, including the maturity and the interest rate, are set by the Small Business Administration; (iii) That is made during the ``covered period,'' as that term is defined in 15 U.S.C. 636(a)(36)(A)(iii), but in no case later than March 31, 2022; and (iv) That would not be prohibited by 13 CFR 120.110(o) or rules or interpretations thereof issued by the Small Business Administration. (c) Non-interest-bearing deposits to the credit of a bank are not considered loans, advances, or extensions of credit to the bank of deposit; nor is the giving of immediate credit to a bank upon uncollected items received in the ordinary course of business considered to be a loan, advance or extension of credit to the depositing bank. (d) For purposes of Sec. 215.4 of this part, an extension of credit by a member bank is considered to have been made at the time the bank enters into a binding commitment to make the extension of credit. (e) A participation without recourse is considered to be an extension of credit by the participating bank, not by the originating bank. (f) Tangible economic benefit rule--(1) In general. An extension of credit is considered made to an insider to the [[Page 400]] extent that the proceeds are transferred to the insider or are used for the tangible economic benefit of the insider. (2) Exception. An extension of credit is not considered made to an insider under paragraph (f)(1) of this section if: (i) The credit is extended on terms that would satisfy the standard set forth in Sec. 215.4(a) of this part for extensions of credit to insiders; and (ii) The proceeds of the extension of credit are used in a bona fide transaction to acquire property, goods, or services from the insider. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994; 63 FR 58621, Nov. 2, 1998; 85 FR 22349, Apr. 22, 2020; 85 FR 43121, July 16, 2020; 86 FR 9839, Feb. 17, 2021; 86 FR 27509, May 21, 2021] Sec. 215.4 General prohibitions. (a) Terms and creditworthiness--(1) In general. No member bank may extend credit to any insider of the bank or insider of its affiliates unless the extension of credit: (i) Is made on substantially the same terms (including interest rates and collateral) as, and following credit underwriting procedures that are not less stringent than, those prevailing at the time for comparable transactions by the bank with other persons that are not covered by this part and who are not employed by the bank; and (ii) Does not involve more than the normal risk of repayment or present other unfavorable features. (2) Exception. Nothing in this paragraph (a) or paragraph (e)(2)(ii) of this section shall prohibit any extension of credit made pursuant to a benefit or compensation program-- (i) That is widely available to employees of the member bank and, in the case of extensions of credit to an insider of its affiliates, is widely available to employees of the affiliates at which that person is an insider; and (ii) That does not give preference to any insider of the member bank over other employees of the member bank and, in the case of extensions of credit to an insider of its affiliates, does not give preference to any insider of its affiliates over other employees of the affiliates at which that person is an insider. (b) Prior approval. (1) No member bank may extend credit (which term includes granting a line of credit) to any insider of the bank or insider of its affiliates in an amount that, when aggregated with the amount of all other extensions of credit to that person and to all related interests of that person, exceeds the higher of $25,000 or 5 percent of the member bank's unimpaired capital and unimpaired surplus, unless: (i) The extension of credit has been approved in advance by a majority of the entire board of directors of that bank; and (ii) The interested party has abstained from participating directly or indirectly in the voting. (2) In no event may a member bank extend credit to any insider of the bank or insider of its affiliates in an amount that, when aggregated with all other extensions of credit to that person, and all related interests of that person, exceeds $500,000, except by complying with the requirements of this paragraph (b). (3) Approval by the board of directors under paragraphs (b)(1) and (b)(2) of this section is not required for an extension of credit that is made pursuant to a line of credit that was approved under paragraph (b)(1) of this section within 14 months of the date of the extension of credit. The extension of credit must also be in compliance with the requirements of Sec. 215.4(a) of this part. (4) Participation in the discussion, or any attempt to influence the voting, by the board of directors regarding an extension of credit constitutes indirect participation in the voting by the board of directors on an extension of credit. (c) Individual lending limit. No member bank may extend credit to any insider of the bank or insider of its affiliates in an amount that, when aggregated with the amount of all other extensions of credit by the member bank to that person and to all related interests of that person, exceeds the lending limit of the member bank specified in Sec. 215.2(i) of this part. This prohibition does not apply to an extension of credit by a member bank to a company of which the member bank is a subsidiary [[Page 401]] or to any other subsidiary of that company. (d) Aggregate lending limit--(1) General limit. A member bank may not extend credit to any insider of the bank or insider of its affiliates unless the extension of credit is in an amount that, when aggregated with the amount of all outstanding extensions of credit by that bank to all such insiders, does not exceed the bank's unimpaired capital and unimpaired surplus (as defined in Sec. 215.2(i) of this part). (2) Member banks with deposits of less than $100,000,000. (i) A member bank with deposits of less than $100,000,000 may by an annual resolution of its board of directors increase the general limit specified in paragraph (d)(1) of this section to a level not to exceed two times the bank's unimpaired capital and unimpaired surplus, if: (A) The board of directors determines that such higher limit is consistent with prudent, safe, and sound banking practices in light of the bank's experience in lending to its insiders and is necessary to attract or retain directors or to prevent restricting the availability of credit in small communities; (B) The resolution sets forth the facts and reasoning on which the board of directors bases the finding, including the amount of the bank's lending to its insiders as a percentage of the bank's unimpaired capital and unimpaired surplus as of the date of the resolution; (C) The bank meets or exceeds, on a fully-phased in basis, all applicable capital requirements established by the appropriate Federal banking agency; and (D) The bank received a satisfactory composite rating in its most recent report of examination. (ii) If a member bank has adopted a resolution authorizing a higher limit pursuant to paragraph (d)(2)(i) of this section and subsequently fails to meet the requirements of paragraph (d)(2)(i)(C) or (d)(2)(i)(D) of this section, the member bank shall not extend any additional credit (including a renewal of any existing extension of credit) to any insider of the bank or its affiliates unless such extension or renewal is consistent with the general limit in paragraph (d)(1) of this section. (3) Exceptions. (i) The general limit specified in paragraph (d)(1) of this section does not apply to the following: (A) Extensions of credit secured by a perfected security interest in bonds, notes, certificates of indebtedness, or Treasury bills of the United States or in other such obligations fully guaranteed as to principal and interest by the United States; (B) Extensions of credit to or secured by unconditional takeout commitments or guarantees of any department, agency, bureau, board, commission or establishment of the United States or any corporation wholly owned directly or indirectly by the United States; (C) Extensions of credit secured by a perfected security interest in a segregated deposit account in the lending bank; or (D) Extensions of credit arising from the discount of negotiable or nonnegotiable installment consumer paper that is acquired from an insider and carries a full or partial recourse endorsement or guarantee by the insider, provided that: (1) The financial condition of each maker of such consumer paper is reasonably documented in the bank's files or known to its officers; (2) An officer of the bank designated for that purpose by the board of directors of the bank certifies in writing that the bank is relying primarily upon the responsibility of each maker for payment of the obligation and not upon any endorsement or guarantee by the insider; and (3) The maker of the instrument is not an insider. (ii) The exceptions in paragraphs (d)(3)(i)(A) through (d)(3)(i)(C) of this section apply only to the amounts of such extensions of credit that are secured in the manner described therein. (e) Overdrafts. (1) No member bank may pay an overdraft of an executive officer or director of the bank or executive officer or director of its affiliates \3\ [[Page 402]] on an account at the bank, unless the payment of funds is made in accordance with: --------------------------------------------------------------------------- \3\ This prohibition does not apply to the payment by a member bank of an overdraft of a principal shareholder of the member bank, unless the principal shareholder is also an executive officer or director. This prohibition also does not apply to the payment by a member bank of an overdraft of a related interest of an executive officer, director, or principal shareholder of the member bank or executive officer, director, or principal shareholder of its affiliates. --------------------------------------------------------------------------- (i) A written, preauthorized, interest-bearing extension of credit plan that specifies a method of repayment; or (ii) A written, preauthorized transfer of funds from another account of the account holder at the bank. (2) The prohibition in paragraph (e)(1) of this section does not apply to payment of inadvertent overdrafts on an account in an aggregate amount of $1,000 or less, provided: (i) The account is not overdrawn for more than 5 business days; and (ii) The member bank charges the executive officer or director the same fee charged any other customer of the bank in similar circumstances. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994, as amended at 61 FR 57770, Nov. 8, 1996; 62 FR 13298, Mar. 20, 1997] Sec. 215.5 Additional restrictions on loans to executive officers of member banks. The following restrictions on extensions of credit by a member bank to any of its executive officers apply in addition to any restrictions on extensions of credit by a member bank to insiders of itself or its affiliates set forth elsewhere in this part. The restrictions of this section apply only to executive officers of the member bank and not to executive officers of its affiliates. (a) No member bank may extend credit to any of its executive officers, and no executive officer of a member bank shall borrow from or otherwise become indebted to the bank, except in the amounts, for the purposes, and upon the conditions specified in paragraphs (c) and (d) of this section. (b) No member bank may extend credit in an aggregate amount greater than the amount permitted in paragraph (c)(4) of this section to a partnership in which one or more of the bank's executive officers are partners and, either individually or together, hold a majority interest. For the purposes of paragraph (c)(4) of this section, the total amount of credit extended by a member bank to such partnership is considered to be extended to each executive officer of the member bank who is a member of the partnership. (c) A member bank is authorized to extend credit to any executive officer of the bank: (1) In any amount to finance the education of the executive officer's children; (2) In any amount to finance or refinance the purchase, construction, maintenance, or improvement of a residence of the executive officer, provided: (i) The extension of credit is secured by a first lien on the residence and the residence is owned (or expected to be owned after the extension of credit) by the executive officer; and (ii) In the case of a refinancing, that only the amount thereof used to repay the original extension of credit, together with the closing costs of the refinancing, and any additional amount thereof used for any of the purposes enumerated in this paragraph (c)(2), are included within this category of credit; (3) In any amount, if the extension of credit is secured in a manner described in Sec. 215.4(d)(3)(i)(A) through (d)(3)(i)(C) of this part; and (4) For any other purpose not specified in paragraphs (c)(1) through (c)(3) of this section, if the aggregate amount of extensions of credit to that executive officer under this paragraph does not exceed at any one time the higher of 2.5 per cent of the bank's unimpaired capital and unimpaired surplus or $25,000, but in no event more than $100,000. (d) Any extension of credit by a member bank to any of its executive officers shall be: (1) Promptly reported to the member bank's board of directors; (2) In compliance with the requirements of Sec. 215.4(a) of this part; (3) Preceded by the submission of a detailed current financial statement of the executive officer; and (4) Made subject to the condition in writing that the extension of credit will, at the option of the member bank, become due and payable at any time that the officer is indebted to any [[Page 403]] other bank or banks in an aggregate amount greater than the amount specified for a category of credit in paragraph (c) of this section. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994; 60 FR 17636, Apr. 7, 1995] Sec. 215.6 Prohibition on knowingly receiving unauthorized extension of credit. No executive officer, director, or principal shareholder of a member bank or any of its affiliates shall knowingly receive (or knowingly permit any of that person's related interests to receive) from a member bank, directly or indirectly, any extension of credit not authorized under this part. Sec. 215.7 Extensions of credit outstanding on March 10, 1979. (a) Any extension of credit that was outstanding on March 10, 1979, and that would, if made on or after March 10, 1979, violate Sec. 215.4(c) of this part, shall be reduced in amount by March 10, 1980, to be in compliance with the lending limit in Sec. 215.4(c) of this part. Any renewal or extension of such an extension of credit on or after March 10, 1979, shall be made only on terms that will bring the extension of credit into compliance with the lending limit of Sec. 215.4(c) of this part by March 10, 1980. However, any extension of credit made before March 10, 1979, that bears a specific maturity date of March 10, 1980, or later, shall be repaid in accordance with its repayment schedule in existence on or before March 10, 1979. (b) If a member bank is unable to bring all extensions of credit outstanding on March 10, 1979, into compliance as required by paragraph (a) of this section, the member bank shall promptly report that fact to the Comptroller of the Currency, in the case of a national bank, or to the appropriate Federal Reserve Bank, in the case of a State member bank, and explain the reasons why all the extensions of credit cannot be brought into compliance. The Comptroller or the Reserve Bank, as the case may be, is authorized, on the basis of good cause shown, to extend the March 10, 1980, date for compliance for any extension of credit for not more than two additional one-year periods. Sec. 215.8 Records of member banks. (a) In general. Each member bank shall maintain records necessary for compliance with the requirements of this part. (b) Recordkeeping for insiders of the member bank. Any recordkeeping method adopted by a member bank shall: (1) Identify, through an annual survey, all insiders of the bank itself; and (2) Maintain records of all extensions of credit to insiders of the bank itself, including the amount and terms of each such extension of credit. (c) Recordkeeping for insiders of the member bank's affiliates. Any recordkeeping method adopted by a member bank shall maintain records of extensions of credit to insiders of the member bank's affiliates by: (1) Survey method. (i) Identifying, through an annual survey, each insider of the member bank's affiliates; and (ii) Maintaining records of the amount and terms of each extension of credit by the member bank to such insiders; or (2) Borrower inquiry method. (i) Requiring as part of each extension of credit that the borrower indicate whether the borrower is an insider of an affiliate of the member bank; and (ii) Maintaining records that identify the amount and terms of each extension of credit by the member bank to borrowers so identifying themselves. (3) Alternative recordkeeping methods for insiders of affiliates. A member bank may employ a recordkeeping method other than those identified in paragraphs (c)(1) and (c)(2) of this section if the appropriate Federal banking agency determines that the bank's method is at least as effective as the identified methods. (d) Special rule for non-commercial lenders. A member bank that is prohibited by law or by an express resolution of the board of directors of the bank from making an extension of credit to any company or other entity that is covered by this part as a company is not required to maintain any records of the related interests of the insiders of the bank or its affiliates or to inquire of borrowers whether they are related interests of the insiders of the bank or its affiliates. [[Page 404]] Sec. 215.9 Disclosure of credit from member banks to executive officers and principal shareholders. (a) Definitions. For the purposes of this section, the following definitions apply: (1) Principal shareholder of a member bank means any person other than an insured bank, or a foreign bank as defined in 12 U.S.C. 3101(7), that, directly or indirectly, owns, controls, or has power to vote more than 10 percent of any class of voting securities of the member bank. The term includes a person that controls a principal shareholder (e.g., a person that controls a bank holding company). Shares of a bank (including a foreign bank), bank holding company, savings and loan holding company or other company owned or controlled by a member of an individual's immediate family are presumed to be owned or controlled by the individual for the purposes of determining principal shareholder status. (2) Related interest means: (i) Any company controlled by a person; or (ii) Any political or campaign committee the funds or services of which will benefit a person or that is controlled by a person. For the purpose of this section, a related interest does not include a bank or a foreign bank (as defined in 12 U.S.C. 3101(7)). (b) Public disclosure. (1) Upon receipt of a written request from the public, a member bank shall make available the names of each of its executive officers and each of its principal shareholders to whom, or to whose related interests, the member bank had outstanding as of the end of the latest previous quarter of the year, an extension of credit that, when aggregated with all other outstanding extensions of credit at such time from the member bank to such person and to all related interests of such person, equaled or exceeded 5 percent of the member bank's capital and unimpaired surplus or $500,000, whichever amount is less. No disclosure under this paragraph is required if the aggregate amount of all extensions of credit outstanding at such time from the member bank to the executive officer or principal shareholder of the member bank and to all related interests of such a person does not exceed $25,000. (2) A member bank is not required to disclose the specific amounts of individual extensions of credit. (c) Maintaining records. Each member bank shall maintain records of all requests for the information described in paragraph (b) of this section and the disposition of such requests. These records may be disposed of after two years from the date of the request. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994. Redesignated and amended at 71 FR 71474, Dec. 11, 2006, as amended at 76 FR 56530, Sept. 13, 2011] Sec. 215.10 Reporting requirement for credit secured by certain bank stock. Each executive officer or director of a member bank the shares of which are not publicly traded shall report annually to the board of directors of the member bank the outstanding amount of any credit that was extended to the executive officer or director and that is secured by shares of the member bank. [Reg. O, 59 FR 8837, Feb. 24, 1994. Redesignated at 71 FR 71474, Dec. 11, 2006] Sec. 215.11 Civil penalties. Any member bank, or any officer, director, employee, agent, or other person participating in the conduct of the affairs of the bank, that violates any provision of this part (other than Sec. 215.9) is subject to civil penalties as specified in section 29 of the Federal Reserve Act (12 U.S.C. 504). [Reg. O, 71 FR 71475, Dec. 11, 2006] Sec. 215.12 Application to savings associations. The requirements of this part apply to savings associations, as defined in 12 CFR 238.2(l) (including any subsidiary of a savings association), in the same manner and to the same extent as if the savings association were a member bank; provided that a savings association's unimpaired capital and unimpaired surplus will be determined under regulatory capital rules applicable to that savings association. [Reg. O, 76 FR 56530, Sept. 13, 2011] [[Page 405]] Sec. Appendix to Part 215--Section 5200 of the Revised Statutes Total Loans and Extensions of Credit (a)(1) The total loans and extensions of credit by a national banking association to a person outstanding at one time and not fully secured, as determined in a manner consistent with paragraph (2) of this subsection, by collateral having a market value at least equal to the amount of the loan or extension of credit shall not exceed 15 per centum of the unimpaired capital and unimpaired surplus of the association. (2) The total loans and extensions of credit by a national banking association to a person outstanding at one time and fully secured by readily marketable collateral having a market value, as determined by reliable and continuously available price quotations, at least equal to the amount of the funds outstanding shall not exceed 10 per centum of the unimpaired capital and unimpaired surplus of the association. This limitation shall be separate from and in addition to the limitations contained in paragraph (1) of this subsection. Definitions (b) For the purposes of this section-- (1) The term loans and extensions of credit shall include all direct or indirect advances of funds to a person made on the basis of any obligation of that person to repay the funds or repayable from specific property pledged by or on behalf of the person, and to the extent specified by the Comptroller of the Currency, such term shall also include any liability of a national banking association to advance funds to or on behalf of a person pursuant to a contractual commitment; and (2) The term person shall include an individual, sole proprietorship, partnership, joint venture, association, trust, estate, business trust, corporation, sovereign government, or agency, instrumentality, or political subdivision thereof, or any similar entity or organization. Exceptions (c) The limitations contained in subsection (a) of this section shall be subject to the following exceptions: (1) Loans or extensions of credit arising from the discount of commercial or business paper evidencing an obligation to the person negotiating it with recourse shall not be subject to any limitation based on capital and surplus. (2) The purchase of bankers' acceptances of the kind described in section 372 of this title and issued by other banks shall not be subject to any limitation based on capital and surplus. (3) Loans and extensions of credit secured by bills of lading, warehouse receipts, or similar documents transferring or securing title to readily marketable staples shall be subject to a limitation of 35 per centum of capital and surplus in addition to the general limitations if the market value of the staples securing each additional loan or extension of credit at all times equals or exceeds 115 per centum of the outstanding amount of such loan or extension of credit. The staples shall be fully covered by insurance whenever it is customary to insure such staples. (4) Loans or extensions of credit secured by bonds, notes, certificates of indebtedness, or Treasury bills of the United States or by other such obligations fully guaranteed as to principal and interest by the United States shall not be subject to any limitation based on capital and surplus. (5) Loans or extensions of credit to or secured by unconditional takeout commitments or guarantees of any department, agency, bureau, board, commission, or establishment of the United States or any corporation wholly owned directly or indirectly by the United States shall not be subject to any limitation based on capital and surplus. (6) Loans or extensions of credit secured by a segregated deposit account in the lending bank shall not be subject to any limitation based on capital and surplus. (7) Loans or extensions of credit to any financial institution or to any receiver, conservator, superintendent of banks, or other agent in charge of the business and property of such financial institution, when such loans or extensions of credit are approved by the Comptroller of the Currency, shall not be subject to any limitation based on capital and surplus. (8)(A) Loans and extensions of credit arising from the discount of negotiable or nonnegotiable installment consumer paper which carries a full recourse endorsement or unconditional guarantee by the person transferring the paper shall be subject under this section to a maximum limitation equal to 25 per centum of such capital and surplus, notwithstanding the collateral requirements set forth in subsection (a)(2) of this section. (B) If the bank's files or the knowledge of its officers of the financial condition of each maker of such consumer paper is reasonably adequate, and an officer of the bank designated for that purpose by the board of directors of the bank certifies in writing that the bank is relying primarily upon the responsibility of each maker for payment of such loans or extensions of credit and not upon any full or partial recourse endorsement or guarantee by the transferor, the limitations of this section as to the loans or extensions of credit of each such maker shall be the sole applicable loan limitations. (9)(A) Loans and extensions of credit secured by shipping documents or instruments transferring or securing title covering livestock or giving a lien on livestock when the [[Page 406]] market value of the livestock securing the obligation is not at any time less than 115 per centum of the face amount of the note covered, shall be subject under this section notwithstanding the collateral requirements set forth in subsection (a)(2) of this section, to a maximum limitation equal to 25 per centum of such capital and surplus. (B) Loans and extensions of credit which arise from the discount by dealers in dairy cattle of paper given in payment for dairy cattle, which paper carries a full recourse endorsement or unconditional guarantee of the seller, and which are secured by the cattle being sold, shall be subject under this section, notwithstanding the collateral requirements set forth in paragraph (a)(2) of this section, to a limitation of 25 per centum of such capital and surplus. (10) Loans or extensions of credit to the Student Loan Marketing Association shall not be subject to any limitation based on capital and surplus. Authority of Comptroller of the Currency (d)(1) The Comptroller of the Currency may prescribe rules and regulations to administer and carry out the purposes of this section, including rules or regulations to define or further define terms used in this section and to establish limits or requirements other than those specified in this section for particular classes or categories of loans or extensions of credit. (2) The Comptroller of the Currency also shall have authority to determine when a loan putatively made to a person shall for purposes of this section be attributed to another person. [48 FR 42806, Sept. 20, 1983] PART 216 [RESERVED] PART 217_CAPITAL ADEQUACY OF BANK HOLDING COMPANIES, SAVINGS AND LOAN HOLDING COMPANIES, AND STATE MEMBER BANKS (REGULATION Q)- -Table of Contents Subpart A_General Provisions Sec. 217.1 Purpose, applicability, reservations of authority, and timing. 217.2 Definitions. 217.3 Operational requirements for certain exposures. 217.4-217.9 [Reserved] Subpart B_Capital Ratio Requirements and Buffers 217.10 Minimum capital requirements. 217.11 Capital conservation buffer, countercyclical capital buffer amount, and GSIB surcharge. 217.12 Community bank leverage ratio framework. 217.13-217.19 [Reserved] Subpart C_Definition of Capital 217.20 Capital components and eligibility criteria for regulatory capital instruments. 217.21 Minority interest. 217.22 Regulatory capital adjustments and deductions. 217.23-217.29 [Reserved] Subpart D_Risk-weighted Assets_Standardized Approach 217.30 Applicability. Risk-Weighted Assets for General Credit Risk 217.31 Mechanics for calculating risk-weighted assets for general credit risk. 217.32 General risk weights. 217.33 Off-balance sheet exposures. 217.34 Derivative contracts. 217.35 Cleared transactions. 217.36 Guarantees and credit derivatives: Substitution treatment. 217.37 Collateralized transactions. Risk-Weighted Assets for Unsettled Transactions 217.38 Unsettled transactions. 217.39-217.40 [Reserved] Risk-Weighted Assets for Securitization Exposures 217.41 Operational requirements for securitization exposures. 217.42 Risk-weighted assets for securitization exposures. 217.43 Simplified supervisory formula approach (SSFA) and the gross-up approach. 217.44 Securitization exposures to which the SSFA and gross-up approach do not apply. 217.45 Recognition of credit risk mitigants for securitization exposures. 217.46-217.50 [Reserved] Risk-Weighted Assets for Equity Exposures 217.51 Introduction and exposure measurement. 217.52 Simple risk-weight approach (SRWA). 217.53 Equity exposures to investment funds. 217.54-217.60 [Reserved] Disclosures 217.61 Purpose and scope. [[Page 407]] 217.62 Disclosure requirements. 217.63 Disclosures by Board-regulated institutions described in Sec. 217.61. 217.64-217.99 [Reserved] Subpart E_Risk-Weighted Assets_Internal Ratings-Based and Advanced Measurement Approaches 217.100 Purpose, applicability, and principle of conservatism. 217.101 Definitions. 217.102-217.120 [Reserved] Qualification 217.121 Qualification process. 217.122 Qualification requirements. 217.123 Ongoing qualification. 217.124 Merger and acquisition transitional arrangements. 217.125-217.130 [Reserved] Risk-Weighted Assets For General Credit Risk 217.131 Mechanics for calculating total wholesale and retail risk- weighted assets. 217.132 Counterparty credit risk of repo-style transactions, eligible margin loans, and OTC derivative contracts. 217.133 Cleared transactions. 217.134 Guarantees and credit derivatives: PD substitution and LGD adjustment approaches. 217.135 Guarantees and credit derivatives: Double default treatment. 217.136 Unsettled transactions. 217.137-217.140 [Reserved] Risk-Weighted Assets for Securitization Exposures 217.141 Operational criteria for recognizing the transfer of risk. 217.142 Risk-based capital requirement for securitization exposures. 217.143 Supervisory formula approach (SFA). 217.144 Simplified supervisory formula approach (SSFA). 217.145 Recognition of credit risk mitigants for securitization exposures. 217.146-217.150 [Reserved] Risk-Weighted Assets For Equity Exposures 217.151 Introduction and exposure measurement. 217.152 Simple risk weight approach (SRWA). 217.153 Internal models approach (IMA). 217.154 Equity exposures to investment funds. 217.155 Equity derivative contracts. 217.156-217.160 [Reserved] Risk-Weighted Assets For Operational Risk 217.161 Qualification requirements for incorporation of operational risk mitigants. 217.162 Mechanics of risk-weighted asset calculation. 217.163-217.170 [Reserved] Disclosures 217.171 Purpose and scope. 217.172 Disclosure requirements. 217.173 Disclosures by certain advanced approaches Board-regulated institutions and Category III Board-regulated institutions. 217.174-217.200 [Reserved] Subpart F_Risk-weighted Assets_Market Risk 217.201 Purpose, applicability, and reservation of authority. 217.202 Definitions. 217.203 Requirements for application of this subpart F. 217.204 Measure for market risk. 217.205 VaR-based measure. 217.206 Stressed VaR-based measure. 217.207 Specific risk. 217.208 Incremental risk. 217.209 Comprehensive risk. 217.210 Standardized measurement method for specific risk. 217.211 Simplified supervisory formula approach (SSFA). 217.212 Market risk disclosures. 217.213-217.299 [Reserved] Subpart G_Transition Provisions 217.300 Transitions. 217.301 Current expected credit losses (CECL) transition. 217.302 Exposures Related the Money Market Mutual Fund Liquidity Facility. 217.303 Temporary exclusions from total leverage exposure. 217.304 Temporary changes to the community bank leverage ratio framework. 217.305 Exposures related to the Paycheck Protection Program Lending Facility. Subpart H_Risk-based Capital Surcharge for Global Systemically Important Bank Holding Companies 217.400 Purpose and applicability. 217.401 Definitions. 217.402 Identification as a global systemically important BHC. 217.403 GSIB surcharge. 217.404 Method 1 score. 217.405 Method 2 score. 217.406 Short-term wholesale funding score. [[Page 408]] Subpart I_Application of Capital Rules 217.501 The Board's Regulatory Capital Framework for Depository Institution Holding Companies Organized as Non-Stock Companies. 217.502 Application of the Board's Regulatory Capital Framework to Employee Stock Ownership Plans that are Depository Institution Holding Companies and Certain Trusts that are Savings and Loan Holding Companies. Appendix A to Part 217--The Federal Reserve Board's Framework for Implementing the Countercyclical Capital Buffer Authority: 12 U.S.C. 248(a), 321-338a, 481-486, 1462a, 1467a, 1818, 1828, 1831n, 1831o, 1831p-1, 1831w, 1835, 1844(b), 1851, 3904, 3906- 3909, 4808, 5365, 5368, 5371, 5371 note, and sec. 4012, Pub. L. 116-136, 134 Stat. 281. Source: Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, unless otherwise noted. Subpart A_General Provisions Sec. 217.1 Purpose, applicability, reservations of authority, and timing. (a) Purpose. This part establishes minimum capital requirements and overall capital adequacy standards for entities described in paragraph (c)(1) of this section. This part includes methodologies for calculating minimum capital requirements, public disclosure requirements related to the capital requirements, and transition provisions for the application of this part. (b) Limitation of authority. Nothing in this part shall be read to limit the authority of the Board to take action under other provisions of law, including action to address unsafe or unsound practices or conditions, deficient capital levels, or violations of law or regulation, under section 8 of the Federal Deposit Insurance Act, section 8 of the Bank Holding Company Act, or section 10 of the Home Owners' Loan Act. (c) Applicability. (1) This part applies on a consolidated basis to every Board-regulated institution that is: (i) A state member bank; (ii) A bank holding company domiciled in the United States that is not subject to 12 CFR part 225, appendix C, provided that the Board may by order apply any or all of this part 217 to any bank holding company, based on the institution's size, level of complexity, risk profile, scope of operations, or financial condition; or (iii) A covered savings and loan holding company domiciled in the United States, other than a savings and loan holding company that meets the requirements of 12 CFR part 225, appendix C, as if the savings and loan holding company were a bank holding company and the savings association were a bank. For purposes of compliance with the capital adequacy requirements and calculations in this part, savings and loan holding companies that do not file the FR Y-9C should follow the instructions to the FR Y-9C. (2) Minimum capital requirements and overall capital adequacy standards. Each Board-regulated institution must calculate its minimum capital requirements and meet the overall capital adequacy standards in subpart B of this part. (3) Regulatory capital. Each Board-regulated institution must calculate its regulatory capital in accordance with subpart C of this part. (4) Risk-weighted assets. (i) Each Board-regulated institution must use the methodologies in subpart D of this part (and subpart F of this part for a market risk Board-regulated institution) to calculate standardized total risk-weighted assets. (ii) Each advanced approaches Board-regulated institution must use the methodologies in subpart E (and subpart F of this part for a market risk Board-regulated institution) to calculate advanced approaches total risk-weighted assets. (5) Disclosures. (i) Except for an advanced approaches Board- regulated institution that is making public disclosures pursuant to the requirements in subpart E of this part, each Board-regulated institution with total consolidated assets of $50 billion or more must make the public disclosures described in subpart D of this part. (ii) Each market risk Board-regulated institution must make the public disclosures described in subpart F of this part. (iii) Each advanced approaches Board-regulated institution must make the public disclosures described in subpart E of this part. [[Page 409]] (d) Reservation of authority--(1) Additional capital in the aggregate. The Board may require a Board-regulated institution to hold an amount of regulatory capital greater than otherwise required under this part if the Board determines that the Board-regulated institution's capital requirements under this part are not commensurate with the Board-regulated institution's credit, market, operational, or other risks. (2) Regulatory capital elements. (i) If the Board determines that a particular common equity tier 1, additional tier 1, or tier 2 capital element has characteristics or terms that diminish its ability to absorb losses, or otherwise present safety and soundness concerns, the Board may require the Board-regulated institution to exclude all or a portion of such element from common equity tier 1 capital, additional tier 1 capital, or tier 2 capital, as appropriate. (ii) Notwithstanding the criteria for regulatory capital instruments set forth in subpart C of this part, the Board may find that a capital element may be included in a Board-regulated institution's common equity tier 1 capital, additional tier 1 capital, or tier 2 capital on a permanent or temporary basis consistent with the loss absorption capacity of the element and in accordance with Sec. 217.20(e). (3) Risk-weighted asset amounts. If the Board determines that the risk-weighted asset amount calculated under this part by the Board- regulated institution for one or more exposures is not commensurate with the risks associated with those exposures, the Board may require the Board-regulated institution to assign a different risk-weighted asset amount to the exposure(s) or to deduct the amount of the exposure(s) from its regulatory capital. (4) Total leverage. If the Board determines that the total leverage exposure, or the amount reflected in the Board-regulated institution's reported average total consolidated assets, for an on- or off-balance sheet exposure calculated by a Board-regulated institution under Sec. 217.10 is inappropriate for the exposure(s) or the circumstances of the Board-regulated institution, the Board may require the Board-regulated institution to adjust this exposure amount in the numerator and the denominator for purposes of the leverage ratio calculations. (5) Consolidation of certain exposures. The Board may determine that the risk-based capital treatment for an exposure or the treatment provided to an entity that is not consolidated on the Board-regulated institution's balance sheet is not commensurate with the risk of the exposure and the relationship of the Board-regulated institution to the entity. Upon making this determination, the Board may require the Board- regulated institution to treat the exposure or entity as if it were consolidated on the balance sheet of the Board-regulated institution for purposes of determining the Board-regulated institution's risk-based capital requirements and calculating the Board-regulated institution's risk-based capital ratios accordingly. The Board will look to the substance of, and risk associated with, the transaction, as well as other relevant factors the Board deems appropriate in determining whether to require such treatment. (6) Other reservation of authority. With respect to any deduction or limitation required under this part, the Board may require a different deduction or limitation, provided that such alternative deduction or limitation is commensurate with the Board-regulated institution's risk and consistent with safety and soundness. (e) Notice and response procedures. In making a determination under this section, the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (f) Timing. (1) Subject to the transition provisions in subpart G of this part, an advanced approaches Board-regulated institution that is not a savings and loan holding company must: (i) Except as described in paragraph (f)(1)(ii) of this section, beginning on January 1, 2014, calculate advanced approaches total risk- weighted assets in accordance with subpart E and, if applicable, subpart F of this part and, beginning on January 1, 2015, calculate standardized total risk-weighted assets [[Page 410]] in accordance with subpart D and, if applicable, subpart F of this part; (ii) From January 1, 2014 to December 31, 2014: (A) Calculate risk-weighted assets in accordance with the general risk-based capital rules under 12 CFR parts 208 or 225, appendix A, and, if applicable, appendix E (state member banks or bank holding companies, respectively) \1\ and substitute such risk-weighted assets for standardized total risk-weighted assets for purposes of Sec. 217.10; --------------------------------------------------------------------------- \1\ For the purpose of calculating its general risk-based capital ratios from January 1, 2014 to December 31, 2014, an advanced approaches Board-regulated institution shall adjust, as appropriate, its risk- weighted asset measure (as that amount is calculated under 12 CFR parts 208 and 225, and, if applicable, appendix E (state member banks or bank holding companies, respectively) in the general risk-based capital rules) by excluding those assets that are deducted from its regulatory capital under Sec. 217.22. --------------------------------------------------------------------------- (B) If applicable, calculate general market risk equivalent assets in accordance with 12 CFR parts 208 or 225, appendix E, section 4(a)(3) (state member banks or bank holding companies, respectively) and substitute such general market risk equivalent assets for standardized market risk-weighted assets for purposes of Sec. 217.20(d)(3); and (C) Substitute the corresponding provision or provisions of 12 CFR parts 208 or 225, appendix A, and, if applicable, appendix E (state member banks or bank holding companies, respectively) for any reference to subpart D of this part in: Sec. 217.121(c); Sec. 217.124(a) and (b); Sec. 217.144(b); Sec. 217.154(c) and (d); Sec. 217.202(b) (definition of covered position in paragraph (b)(3)(iv)); and Sec. 217.211(b); \2\ --------------------------------------------------------------------------- \2\ In addition, for purposes of Sec. 217.201(c)(3), from January 1, 2014 to December 31, 2014, for any circumstance in which the Board may require a Board-regulated institution to calculate risk-based capital requirements for specific positions or portfolios under subpart D of this part, the Board will instead require the Board-regulated institution to make such calculations according to 12 CFR parts 208 and 225, appendix A and, if applicable, appendix E (state member banks or bank holding companies, respectively). --------------------------------------------------------------------------- (iii) Beginning on January 1, 2014, calculate and maintain minimum capital ratios in accordance with subparts A, B, and C of this part, provided, however, that such Board-regulated institution must: (A) From January 1, 2014 to December 31, 2014, maintain a minimum common equity tier 1 capital ratio of 4 percent, a minimum tier 1 capital ratio of 5.5 percent, a minimum total capital ratio of 8 percent, and a minimum leverage ratio of 4 percent; and (B) From January 1, 2015 to December 31, 2017, an advanced approaches Board-regulated institution: (1) Is not required to maintain a supplementary leverage ratio; and (2) Must calculate a supplementary leverage ratio in accordance with Sec. 217.10(c), and must report the calculated supplementary leverage ratio on any applicable regulatory reports. (2) Subject to the transition provisions in subpart G of this part, a Board-regulated institution that is not an advanced approaches Board- regulated institution or a savings and loan holding company that is an advanced approaches Board-regulated institution must: (i) Beginning on January 1, 2015, calculate standardized total risk- weighted assets in accordance with subpart D, and if applicable, subpart F of this part; and (ii) Beginning on January 1, 2015, calculate and maintain minimum capital ratios in accordance with subparts A, B and C of this part, provided, however, that from January 1, 2015 to December 31, 2017, a savings and loan holding company that is an advanced approaches Board- regulated institution: (A) Is not required to maintain a supplementary leverage ratio; and (B) Must calculate a supplementary leverage ratio in accordance with Sec. 217.10(c), and must report the calculated supplementary leverage ratio on any applicable regulatory reports. (3) Beginning on January 1, 2016, and subject to the transition provisions in subpart G of this part, a Board-regulated institution is subject to limitations on distributions and discretionary bonus payments with respect to its capital conservation buffer, any applicable countercyclical capital buffer amount, and any applicable GSIB surcharge, in accordance with subpart B of this part. [[Page 411]] (4) Beginning Jan. 1, 2018, a global systemically important BHC (as defined in Sec. 217.2) is subject to limitations on distributions and discretionary bonus payments in accordance with the lower of the maximum payout amount as determined under Sec. 217.11(a)(2)(iii) and the maximum leverage payout amount as determined under Sec. 217.11(a)(2)(vi). (5) A depository institution holding company, a U.S. intermediate holding company, or a state member bank that changes from one category of Board-regulated institution to another of such categories must comply with the requirements of its category in this part, including applicable transition provisions of the requirements in this part, no later than on the first day of the second quarter following the change in the company's category. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 24540, May 1, 2014; 79 FR 57744, Sept. 26, 2014; 80 FR 5670, Feb. 3, 2015; 80 FR 20157, Apr. 15, 2015; 80 FR 49103, Aug. 14, 2015; 83 FR 44198, Aug. 30, 2018; 84 FR 59269, Nov. 1, 2019] Sec. 217.2 Definitions. As used in this part: Additional tier 1 capital is defined in Sec. 217.20(c). Adjusted allowances for credit losses (AACL) means, with respect to a Board-regulated institution that has adopted CECL, valuation allowances that have been established through a charge against earnings or retained earnings for expected credit losses on financial assets measured at amortized cost and a lessor's net investment in leases that have been established to reduce the amortized cost basis of the assets to amounts expected to be collected as determined in accordance with GAAP. For purposes of this part, adjusted allowances for credit losses include allowances for expected credit losses on off-balance sheet credit exposures not accounted for as insurance as determined in accordance with GAAP. Adjusted allowances for credit losses exclude ``allocated transfer risk reserves'' and allowances created that reflect credit losses on purchased credit deteriorated assets and available-for- sale debt securities. Advanced approaches Board-regulated institution means a Board- regulated institution that is described in Sec. 217.100(b)(1). Advanced approaches total risk-weighted assets means: (1) The sum of: (i) Credit-risk-weighted assets; (ii) Credit valuation adjustment (CVA) risk-weighted assets; (iii) Risk-weighted assets for operational risk; and (iv) For a market risk Board-regulated institution only, advanced market risk-weighted assets; minus (2) Excess eligible credit reserves not included in the Board- regulated institution's tier 2 capital. Advanced market risk-weighted assets means the advanced measure for market risk calculated under Sec. 217.204 multiplied by 12.5. Affiliate with respect to a company, means any company that controls, is controlled by, or is under common control with, the company. Allocated transfer risk reserves means reserves that have been established in accordance with section 905(a) of the International Lending Supervision Act, against certain assets whose value U.S. supervisory authorities have found to be significantly impaired by protracted transfer risk problems. Allowances for loan and lease losses (ALLL) means valuation allowances that have been established through a charge against earnings to cover estimated credit losses on loans, lease financing receivables or other extensions of credit as determined in accordance with GAAP. ALLL excludes ``allocated transfer risk reserves.'' For purposes of this part, ALLL includes allowances that have been established through a charge against earnings to cover estimated credit losses associated with off-balance sheet credit exposures as determined in accordance with GAAP. Asset-backed commercial paper (ABCP) program means a program established primarily for the purpose of issuing commercial paper that is investment grade and backed by underlying exposures held in a bankruptcy-remote special purpose entity (SPE). Asset-backed commercial paper (ABCP) program sponsor means a Board- regulated institution that: [[Page 412]] (1) Establishes an ABCP program; (2) Approves the sellers permitted to participate in an ABCP program; (3) Approves the exposures to be purchased by an ABCP program; or (4) Administers the ABCP program by monitoring the underlying exposures, underwriting or otherwise arranging for the placement of debt or other obligations issued by the program, compiling monthly reports, or ensuring compliance with the program documents and with the program's credit and investment policy. Bank holding company means a bank holding company as defined in section 2 of the Bank Holding Company Act. Bank Holding Company Act means the Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841 et seq.). Bankruptcy remote means, with respect to an entity or asset, that the entity or asset would be excluded from an insolvent entity's estate in receivership, insolvency, liquidation, or similar proceeding. Basis derivative contract means a non-foreign-exchange derivative contract (i.e., the contract is denominated in a single currency) in which the cash flows of the derivative contract depend on the difference between two risk factors that are attributable solely to one of the following derivative asset classes: Interest rate, credit, equity, or commodity. Board means the Board of Governors of the Federal Reserve System. Board-regulated institution means a state member bank, bank holding company, or savings and loan holding company. Call Report means Consolidated Reports of Condition and Income. Carrying value means, with respect to an asset, the value of the asset on the balance sheet of a Board-regulated institution as determined in accordance with GAAP. For all assets other than available- for-sale debt securities or purchased credit deteriorated assets, the carrying value is not reduced by any associated credit loss allowance that is determined in accordance with GAAP. Category II Board-regulated institution means: (1) A depository institution holding company that is identified as a Category II banking organization pursuant to 12 CFR 252.5 or 12 CFR 238.10, as applicable; (2) A U.S. intermediate holding company that is identified as a Category II banking organization pursuant to 12 CFR 252.5; (3) A state member bank that is a subsidiary of a company identified in paragraph (1) of this definition; or (4) A state member bank that: (i) Is not a subsidiary of a depository institution holding company; and (ii)(A) Has total consolidated assets, calculated based on the average of the state member bank's total consolidated assets for the four most recent calendar quarters as reported on the Call Report, equal to $700 billion or more. If the state member bank has not filed the Call Report for each of the four most recent calendar quarters, total consolidated assets is calculated based on its total consolidated assets, as reported on the Call Report, for the most recent quarter or average of the most recent quarters, as applicable; or (B) Has: (1) Total consolidated assets, calculated based on the average of the state member bank's total consolidated assets for the four most recent calendar quarters as reported on the Call Report, of $100 billion or more but less than $700 billion. If the state member bank has not filed the Call Report for each of the four most recent quarters, total consolidated assets is based on its total consolidated assets, as reported on the Call Report, for the most recent quarter or average of the most recent quarters, as applicable; and (2) Cross-jurisdictional activity, calculated based on the average of its cross-jurisdictional activity for the four most recent calendar quarters, of $75 billion or more. Cross-jurisdictional activity is the sum of cross-jurisdictional claims and cross-jurisdictional liabilities, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form. (iii) After meeting the criteria in paragraph (4)(i) of this section, a state member bank continues to be a Category II Board- regulated institution until the state member bank: (A) Has: [[Page 413]] (1) Less than $700 billion in total consolidated assets, as reported on the Call Report, for each of the four most recent calendar quarters; and (2) Less than $75 billion in cross-jurisdictional activity for each of the four most recent calendar quarters. Cross-jurisdictional activity is the sum of cross-jurisdictional claims and cross-jurisdictional liabilities, calculated in accordance with the instructions to the FR Y- 15 or equivalent reporting form; or (B) Has less than $100 billion in total consolidated assets, as reported on the Call Report, for each of the four most recent calendar quarters. Category III Board-regulated institution means: (1) A depository institution holding company that is identified as a Category III banking organization pursuant to 12 CFR 252.5 or 12 CFR 238.10, as applicable; (2) A U.S. intermediate holding company that is identified as a Category III banking organization pursuant to 12 CFR 252.5; (3) A state member bank that is a subsidiary of a company identified in paragraph (1) of this definition; (4) A depository institution that: (i) Is not a subsidiary of a depository institution holding company; (ii)(A) Has total consolidated assets, calculated based on the average of the state member bank's total consolidated assets for the four most recent calendar quarters as reported on the Call Report, equal to $250 billion or more. If the state member bank has not filed the Call Report for each of the four most recent calendar quarters, total consolidated assets is calculated based on its total consolidated assets, as reported on the Call Report, for the most recent quarter or average of the most recent quarters, as applicable; or (B) Has: (1) Total consolidated assets, calculated based on the average of the state member bank's total consolidated assets for the four most recent calendar quarters as reported on the Call Report, of $100 billion or more but less than $250 billion. If the state member bank has not filed the Call Report for each of the four most recent calendar quarters, total consolidated assets is calculated based its total consolidated assets, as reported on the Call Report, for the most recent quarter or average of the most recent quarters, as applicable; and (2) At least one of the following in paragraphs (4)(i)(B)(2)(i) through (iii) of this definition, each calculated as the average of the four most recent calendar quarters: (i) Total nonbank assets, calculated in accordance with the instructions to the FR Y-9LP or equivalent reporting form, equal to $75 billion or more; (ii) Off-balance sheet exposure equal to $75 billion or more. Off- balance sheet exposure is a state member bank's total exposure, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form, minus the total consolidated assets of the state member bank, as reported on the Call Report; or (iii) Weighted short-term wholesale funding, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form, equal to $75 billion or more; or (iii) [Reserved] (iv) After meeting the criteria in paragraph (4)(ii) of this definition, a state member bank continues to be a Category III Board- regulated institution until the state member bank: (A) Has: (1) Less than $250 billion in total consolidated assets, as reported on the Call Report, for each of the four most recent calendar quarters; (2) Less than $75 billion in total nonbank assets, calculated in accordance with the instructions to the FR Y-9LP or equivalent reporting form, for each of the four most recent calendar quarters; (3) Less than $75 billion in weighted short-term wholesale funding, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form, for each of the four most recent calendar quarters; and (4) Less than $75 billion in off-balance sheet exposure for each of the four most recent calendar quarters. Off-balance sheet exposure is a state member bank's total exposure, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form, minus the total consolidated assets of [[Page 414]] the state member bank, as reported on the Call Report; or (B) Has less than $100 billion in total consolidated assets, as reported on the Call Report, for each of the four most recent calendar quarters; or (C) Is a Category II Board-regulated institution. Central counterparty (CCP) means a counterparty (for example, a clearing house) that facilitates trades between counterparties in one or more financial markets by either guaranteeing trades or novating contracts. CFTC means the U.S. Commodity Futures Trading Commission. Clean-up call means a contractual provision that permits an originating Board-regulated institution or servicer to call securitization exposures before their stated maturity or call date. Cleared transaction means an exposure associated with an outstanding derivative contract or repo-style transaction that a Board-regulated institution or clearing member has entered into with a central counterparty (that is, a transaction that a central counterparty has accepted). (1) The following transactions are cleared transactions: (i) A transaction between a CCP and a Board-regulated institution that is a clearing member of the CCP where the Board-regulated institution enters into the transaction with the CCP for the Board- regulated institution's own account; (ii) A transaction between a CCP and a Board-regulated institution that is a clearing member of the CCP where the Board-regulated institution is acting as a financial intermediary on behalf of a clearing member client and the transaction offsets another transaction that satisfies the requirements set forth in Sec. 217.3(a); (iii) A transaction between a clearing member client Board-regulated institution and a clearing member where the clearing member acts as a financial intermediary on behalf of the clearing member client and enters into an offsetting transaction with a CCP, provided that the requirements set forth in Sec. 217.3(a) are met; or (iv) A transaction between a clearing member client Board-regulated institution and a CCP where a clearing member guarantees the performance of the clearing member client Board-regulated institution to the CCP and the transaction meets the requirements of Sec. 217.3(a)(2) and (3). (2) The exposure of a Board-regulated institution that is a clearing member to its clearing member client is not a cleared transaction where the Board-regulated institution is either acting as a financial intermediary and enters into an offsetting transaction with a CCP or where the Board-regulated institution provides a guarantee to the CCP on the performance of the client.\3\ --------------------------------------------------------------------------- \3\ For the standardized approach treatment of these exposures, see Sec. 217.34(e) (OTC derivative contracts) or Sec. 217.37(c) (repo- style transactions). For the advanced approaches treatment of these exposures, see Sec. Sec. 217.132(c)(8) and (d) (OTC derivative contracts) or Sec. Sec. 217.132(b) and Sec. 217.132(d) (repo-style transactions) and for calculation of the margin period of risk, see Sec. Sec. 217.132(d)(5)(iii)(C) (OTC derivative contracts) and Sec. 217.132(d)(5)(iii)(A) (repo-style transactions). --------------------------------------------------------------------------- Clearing member means a member of, or direct participant in, a CCP that is entitled to enter into transactions with the CCP. Clearing member client means a party to a cleared transaction associated with a CCP in which a clearing member acts either as a financial intermediary with respect to the party or guarantees the performance of the party to the CCP. Client-facing derivative transaction means a derivative contract that is not a cleared transaction where the Board-regulated institution is either acting as a financial intermediary and enters into an offsetting transaction with a qualifying central counterparty (QCCP) or where the Board-regulated institution provides a guarantee on the performance of a client on a transaction between the client and a QCCP. Collateral agreement means a legal contract that specifies the time when, and circumstances under which, a counterparty is required to pledge collateral to a Board-regulated institution for a single financial contract or for all financial contracts in a netting set and confers upon the Board-regulated institution a perfected, first-priority security interest (notwithstanding the [[Page 415]] prior security interest of any custodial agent), or the legal equivalent thereof, in the collateral posted by the counterparty under the agreement. This security interest must provide the Board-regulated institution with a right to close-out the financial positions and liquidate the collateral upon an event of default of, or failure to perform by, the counterparty under the collateral agreement. A contract would not satisfy this requirement if the Board-regulated institution's exercise of rights under the agreement may be stayed or avoided: (1) Under applicable law in the relevant jurisdictions, other than: (i) In receivership, conservatorship, or resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs, or laws of foreign jurisdictions that are substantially similar \4\ to the U.S. laws referenced in this paragraph (1)(i) in order to facilitate the orderly resolution of the defaulting counterparty; --------------------------------------------------------------------------- \4\ The Board expects to evaluate jointly with the OCC and Federal Deposit Insurance Corporation whether foreign special resolution regimes meet the requirements of this paragraph. --------------------------------------------------------------------------- (ii) Where the agreement is subject by its terms to, or incorporates, any of the laws referenced in paragraph (1)(i) of this definition; or (2) Other than to the extent necessary for the counterparty to comply with the requirements of subpart I of the Board's Regulation YY (part 252 of this chapter), part 47 of this title, or part 382 of this title, as applicable. Commercial end-user means an entity that: (1)(i) Is using derivative contracts to hedge or mitigate commercial risk; and (ii)(A) Is not an entity described in section 2(h)(7)(C)(i)(I) through (VIII) of the Commodity Exchange Act (7 U.S.C. 2(h)(7)(C)(i)(I) through (VIII)); or (B) Is not a ``financial entity'' for purposes of section 2(h)(7) of the Commodity Exchange Act (7 U.S.C. 2(h)) by virtue of section 2(h)(7)(C)(iii) of the Act (7 U.S.C. 2(h)(7)(C)(iii)); or (2)(i) Is using derivative contracts to hedge or mitigate commercial risk; and (ii) Is not an entity described in section 3C(g)(3)(A)(i) through (viii) of the Securities Exchange Act of 1934 (15 U.S.C. 78c- 3(g)(3)(A)(i) through (viii)); or (3) Qualifies for the exemption in section 2(h)(7)(A) of the Commodity Exchange Act (7 U.S.C. 2(h)(7)(A)) by virtue of section 2(h)(7)(D) of the Act (7 U.S.C. 2(h)(7)(D)); or (4) Qualifies for an exemption in section 3C(g)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78c-3(g)(1)) by virtue of section 3C(g)(4) of the Act (15 U.S.C. 78c-3(g)(4)). Commitment means any legally binding arrangement that obligates a Board-regulated institution to extend credit or to purchase assets. Commodity derivative contract means a commodity-linked swap, purchased commodity-linked option, forward commodity-linked contract, or any other instrument linked to commodities that gives rise to similar counterparty credit risks. Commodity Exchange Act means the Commodity Exchange Act of 1936 (7 U.S.C. 1 et seq.) Common equity tier 1 capital is defined in Sec. 217.20(b). Common equity tier 1 minority interest means the common equity tier 1 capital of a depository institution or foreign bank that is: (1) A consolidated subsidiary of a Board-regulated institution; and (2) Not owned by the Board-regulated institution. Company means a corporation, partnership, limited liability company, depository institution, business trust, special purpose entity, association, or similar organization. Control. A person or company controls a company if it: (1) Owns, controls, or holds with power to vote 25 percent or more of a class of voting securities of the company; or (2) Consolidates the company for financial reporting purposes. Corporate exposure means an exposure to a company that is not: (1) An exposure to a sovereign, the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, a multi-lateral [[Page 416]] development bank (MDB), a depository institution, a foreign bank, a credit union, or a public sector entity (PSE); (2) An exposure to a GSE; (3) A residential mortgage exposure; (4) A pre-sold construction loan; (5) A statutory multifamily mortgage; (6) A high volatility commercial real estate (HVCRE) exposure; (7) A cleared transaction; (8) A default fund contribution; (9) A securitization exposure; (10) An equity exposure; or (11) An unsettled transaction. (12) A policy loan; (13) A separate account; or (14) A Paycheck Protection Program covered loan as defined in section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)). Country risk classification (CRC) with respect to a sovereign, means the most recent consensus CRC published by the Organization for Economic Cooperation and Development (OECD) as of December 31st of the prior calendar year that provides a view of the likelihood that the sovereign will service its external debt. Covered debt instrument means an unsecured debt instrument that is: (1) Issued by a global systemically important BHC and that is an eligible debt security, as defined in 12 CFR 252.61, or that is pari passu or subordinated to any eligible debt security issued by the global systemically important BHC; or (2) Issued by a Covered IHC, as defined in 12 CFR 252.161, and that is an eligible Covered IHC debt security, as defined in 12 CFR 252.161, or that is pari passu or subordinated to any eligible Covered IHC debt security issued by the Covered IHC; or (3) Issued by a global systemically important banking organization, as defined in 12 CFR 252.2 other than a global systemically important BHC; or issued by a subsidiary of a global systemically important banking organization that is not a global systemically important BHC, other than a Covered IHC, as defined in 12 CFR 252.161; and where, (i) The instrument is eligible for use to comply with an applicable law or regulation requiring the issuance of a minimum amount of instruments to absorb losses or recapitalize the issuer or any of its subsidiaries in connection with a resolution, receivership, insolvency, or similar proceeding of the issuer or any of its subsidiaries; or (ii) The instrument is pari passu or subordinated to any instrument described in paragraph (3)(i) of this definition; for purposes of this paragraph (3)(ii) of this definition, if the issuer may be subject to a special resolution regime, in its jurisdiction of incorporation or organization, that addresses the failure or potential failure of a financial company and any instrument described in paragraph (3)(i) of this definition is eligible under that special resolution regime to be written down or converted into equity or any other capital instrument, then an instrument is pari passu or subordinated to any instrument described in paragraph (3)(i) of this definition if that instrument is eligible under that special resolution regime to be written down or converted into equity or any other capital instrument ahead of or proportionally with any instrument described in paragraph (3)(i) of this definition; and (4) Provided that, for purposes of this definition, covered debt instrument does not include a debt instrument that qualifies as tier 2 capital pursuant to 12 CFR 217.20(d) or that is otherwise treated as regulatory capital by the primary supervisor of the issuer. Covered savings and loan holding company means a top-tier savings and loan holding company other than: (1) A top-tier savings and loan holding company that is: (i) An institution that meets the requirements of section 10(c)(9)(C) of HOLA (12 U.S.C. 1467a(c)(9)(C)); and (ii) As of June 30 of the previous calendar year, derived 50 percent or more of its total consolidated assets or 50 percent of its total revenues on an enterprise-wide basis (as calculated under GAAP) from activities that are not financial in nature under section 4(k) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)); (2) A top-tier savings and loan holding company that is an insurance underwriting company; or (3)(i) A top-tier savings and loan holding company that, as of June 30 of [[Page 417]] the previous calendar year, held 25 percent or more of its total consolidated assets in subsidiaries that are insurance underwriting companies (other than assets associated with insurance for credit risk); and (ii) For purposes of paragraph (3)(i) of this definition, the company must calculate its total consolidated assets in accordance with GAAP, or if the company does not calculate its total consolidated assets under GAAP for any regulatory purpose (including compliance with applicable securities laws), the company may estimate its total consolidated assets, subject to review and adjustment by the Board. Credit derivative means a financial contract executed under standard industry credit derivative documentation that allows one party (the protection purchaser) to transfer the credit risk of one or more exposures (reference exposure(s)) to another party (the protection provider) for a certain period of time. Credit-enhancing interest-only strip (CEIO) means an on-balance sheet asset that, in form or in substance: (1) Represents a contractual right to receive some or all of the interest and no more than a minimal amount of principal due on the underlying exposures of a securitization; and (2) Exposes the holder of the CEIO to credit risk directly or indirectly associated with the underlying exposures that exceeds a pro rata share of the holder's claim on the underlying exposures, whether through subordination provisions or other credit-enhancement techniques. Credit-enhancing representations and warranties means representations and warranties that are made or assumed in connection with a transfer of underlying exposures (including loan servicing assets) and that obligate a Board-regulated institution to protect another party from losses arising from the credit risk of the underlying exposures. Credit-enhancing representations and warranties include provisions to protect a party from losses resulting from the default or nonperformance of the counterparties of the underlying exposures or from an insufficiency in the value of the collateral backing the underlying exposures. Credit-enhancing representations and warranties do not include: (1) Early default clauses and similar warranties that permit the return of, or premium refund clauses covering, 1-4 family residential first mortgage loans that qualify for a 50 percent risk weight for a period not to exceed 120 days from the date of transfer. These warranties may cover only those loans that were originated within 1 year of the date of transfer; (2) Premium refund clauses that cover assets guaranteed, in whole or in part, by the U.S. Government, a U.S. Government agency or a GSE, provided the premium refund clauses are for a period not to exceed 120 days from the date of transfer; or (3) Warranties that permit the return of underlying exposures in instances of misrepresentation, fraud, or incomplete documentation. Credit risk mitigant means collateral, a credit derivative, or a guarantee. Credit-risk-weighted assets means 1.06 multiplied by the sum of: (1) Total wholesale and retail risk-weighted assets as calculated under Sec. 217.131; (2) Risk-weighted assets for securitization exposures as calculated under Sec. 217.142; and (3) Risk-weighted assets for equity exposures as calculated under Sec. 217.151. Credit union means an insured credit union as defined under the Federal Credit Union Act (12 U.S.C. 1752 et seq.). Current Expected Credit Losses (CECL) means the current expected credit losses methodology under GAAP. Current exposure means, with respect to a netting set, the larger of zero or the fair value of a transaction or portfolio of transactions within the netting set that would be lost upon default of the counterparty, assuming no recovery on the value of the transactions. Current exposure methodology means the method of calculating the exposure amount for over-the-counter derivative contracts in Sec. 217.34(b). Custodial banking organization means: (1) A Board-regulated institution that is: (i) A top-tier depository institution holding company domiciled in the United States that has assets under custody that are at least 30 times the [[Page 418]] amount of the depository institution holding company's total assets; or (ii) A state member bank that is a subsidiary of a depository institution holding company described in paragraph (1)(i) of this definition. (2) For purposes of this definition, total assets are equal to the average of the banking organization's total consolidated assets for the four most recent calendar quarters. Assets under custody are equal to the average of the Board-regulated institution's assets under custody for the four most recent calendar quarters. Custodian means a financial institution that has legal custody of collateral provided to a CCP. Default fund contribution means the funds contributed or commitments made by a clearing member to a CCP's mutualized loss sharing arrangement. Depository institution means a depository institution as defined in section 3 of the Federal Deposit Insurance Act. Depository institution holding company means a bank holding company or savings and loan holding company. Derivative contract means a financial contract whose value is derived from the values of one or more underlying assets, reference rates, or indices of asset values or reference rates. Derivative contracts include interest rate derivative contracts, exchange rate derivative contracts, equity derivative contracts, commodity derivative contracts, credit derivative contracts, and any other instrument that poses similar counterparty credit risks. Derivative contracts also include unsettled securities, commodities, and foreign exchange transactions with a contractual settlement or delivery lag that is longer than the lesser of the market standard for the particular instrument or five business days. Discretionary bonus payment means a payment made to an executive officer of a Board-regulated institution, where: (1) The Board-regulated institution retains discretion as to whether to make, and the amount of, the payment until the payment is awarded to the executive officer; (2) The amount paid is determined by the Board-regulated institution without prior promise to, or agreement with, the executive officer; and (3) The executive officer has no contractual right, whether express or implied, to the bonus payment. Distribution means: (1) A reduction of tier 1 capital through the repurchase of a tier 1 capital instrument or by other means, except when a Board-regulated institution, within the same quarter when the repurchase is announced, fully replaces a tier 1 capital instrument it has repurchased by issuing another capital instrument that meets the eligibility criteria for: (i) A common equity tier 1 capital instrument if the instrument being repurchased was part of the Board-regulated institution's common equity tier 1 capital, or (ii) A common equity tier 1 or additional tier 1 capital instrument if the instrument being repurchased was part of the Board-regulated institution's tier 1 capital; (2) A reduction of tier 2 capital through the repurchase, or redemption prior to maturity, of a tier 2 capital instrument or by other means, except when a Board-regulated institution, within the same quarter when the repurchase or redemption is announced, fully replaces a tier 2 capital instrument it has repurchased by issuing another capital instrument that meets the eligibility criteria for a tier 1 or tier 2 capital instrument; (3) A dividend declaration or payment on any tier 1 capital instrument; (4) A dividend declaration or interest payment on any tier 2 capital instrument if the Board-regulated institution has full discretion to permanently or temporarily suspend such payments without triggering an event of default; or (5) Any similar transaction that the Board determines to be in substance a distribution of capital. Dodd-Frank Act means the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Pub. L. 111-203, 124 Stat. 1376). Early amortization provision means a provision in the documentation governing a securitization that, when triggered, causes investors in the securitization exposures to be repaid [[Page 419]] before the original stated maturity of the securitization exposures, unless the provision: (1) Is triggered solely by events not directly related to the performance of the underlying exposures or the originating Board- regulated institution (such as material changes in tax laws or regulations); or (2) Leaves investors fully exposed to future draws by borrowers on the underlying exposures even after the provision is triggered. Effective notional amount means for an eligible guarantee or eligible credit derivative, the lesser of the contractual notional amount of the credit risk mitigant and the exposure amount (or EAD for purposes of subpart E of this part) of the hedged exposure, multiplied by the percentage coverage of the credit risk mitigant. Eligible ABCP liquidity facility means a liquidity facility supporting ABCP, in form or in substance, that is subject to an asset quality test at the time of draw that precludes funding against assets that are 90 days or more past due or in default. Notwithstanding the preceding sentence, a liquidity facility is an eligible ABCP liquidity facility if the assets or exposures funded under the liquidity facility that do not meet the eligibility requirements are guaranteed by a sovereign that qualifies for a 20 percent risk weight or lower. Eligible clean-up call means a clean-up call that: (1) Is exercisable solely at the discretion of the originating Board-regulated institution or servicer; (2) Is not structured to avoid allocating losses to securitization exposures held by investors or otherwise structured to provide credit enhancement to the securitization; and (3)(i) For a traditional securitization, is only exercisable when 10 percent or less of the principal amount of the underlying exposures or securitization exposures (determined as of the inception of the securitization) is outstanding; or (ii) For a synthetic securitization, is only exercisable when 10 percent or less of the principal amount of the reference portfolio of underlying exposures (determined as of the inception of the securitization) is outstanding. Eligible credit derivative means a credit derivative in the form of a credit default swap, n\th\-to-default swap, total return swap, or any other form of credit derivative approved by the Board, provided that: (1) The contract meets the requirements of an eligible guarantee and has been confirmed by the protection purchaser and the protection provider; (2) Any assignment of the contract has been confirmed by all relevant parties; (3) If the credit derivative is a credit default swap or n\th\-to- default swap, the contract includes the following credit events: (i) Failure to pay any amount due under the terms of the reference exposure, subject to any applicable minimal payment threshold that is consistent with standard market practice and with a grace period that is closely in line with the grace period of the reference exposure; and (ii) Receivership, insolvency, liquidation, conservatorship or inability of the reference exposure issuer to pay its debts, or its failure or admission in writing of its inability generally to pay its debts as they become due, and similar events; (4) The terms and conditions dictating the manner in which the contract is to be settled are incorporated into the contract; (5) If the contract allows for cash settlement, the contract incorporates a robust valuation process to estimate loss reliably and specifies a reasonable period for obtaining post-credit event valuations of the reference exposure; (6) If the contract requires the protection purchaser to transfer an exposure to the protection provider at settlement, the terms of at least one of the exposures that is permitted to be transferred under the contract provide that any required consent to transfer may not be unreasonably withheld; (7) If the credit derivative is a credit default swap or n\th\-to- default swap, the contract clearly identifies the parties responsible for determining whether a credit event has occurred, specifies that this determination is not the sole [[Page 420]] responsibility of the protection provider, and gives the protection purchaser the right to notify the protection provider of the occurrence of a credit event; and (8) If the credit derivative is a total return swap and the Board- regulated institution records net payments received on the swap as net income, the Board-regulated institution records offsetting deterioration in the value of the hedged exposure (either through reductions in fair value or by an addition to reserves). Eligible credit reserves means: (1) For a Board-regulated institution that has not adopted CECL, all general allowances that have been established through a charge against earnings to cover estimated credit losses associated with on- or off- balance sheet wholesale and retail exposures, including the ALLL associated with such exposures, but excluding allocated transfer risk reserves established pursuant to 12 U.S.C. 3904 and other specific reserves created against recognized losses; and (2) For a Board-regulated institution that has adopted CECL, all general allowances that have been established through a charge against earnings or retained earnings to cover expected credit losses associated with on- or off-balance sheet wholesale and retail exposures, including AACL associated with such exposures. Eligible credit reserves exclude allocated transfer risk reserves established pursuant to 12 U.S.C. 3904, allowances that reflect credit losses on purchased credit deteriorated assets and available-for-sale debt securities, and other specific reserves created against recognized losses. Eligible guarantee means a guarantee that: (1) Is written; (2) Is either: (i) Unconditional, or (ii) A contingent obligation of the U.S. government or its agencies, the enforceability of which is dependent upon some affirmative action on the part of the beneficiary of the guarantee or a third party (for example, meeting servicing requirements); (3) Covers all or a pro rata portion of all contractual payments of the obligated party on the reference exposure; (4) Gives the beneficiary a direct claim against the protection provider; (5) Is not unilaterally cancelable by the protection provider for reasons other than the breach of the contract by the beneficiary; (6) Except for a guarantee by a sovereign, is legally enforceable against the protection provider in a jurisdiction where the protection provider has sufficient assets against which a judgment may be attached and enforced; (7) Requires the protection provider to make payment to the beneficiary on the occurrence of a default (as defined in the guarantee) of the obligated party on the reference exposure in a timely manner without the beneficiary first having to take legal actions to pursue the obligor for payment; (8) Does not increase the beneficiary's cost of credit protection on the guarantee in response to deterioration in the credit quality of the reference exposure; (9) Is not provided by an affiliate of the Board-regulated institution, unless the affiliate is an insured depository institution, foreign bank, securities broker or dealer, or insurance company that: (i) Does not control the Board-regulated institution; and (ii) Is subject to consolidated supervision and regulation comparable to that imposed on depository institutions, U.S. securities broker-dealers, or U.S. insurance companies (as the case may be); and (10) For purposes of Sec. Sec. 217.141 through 217.145 and subpart D of this part, is provided by an eligible guarantor. Eligible guarantor means: (1) A sovereign, the Bank for International Settlements, the International Monetary Fund, the European Central Bank, the European Commission, a Federal Home Loan Bank, Federal Agricultural Mortgage Corporation (Farmer Mac), the European Stability Mechanism, the European Financial Stability Facility, a multilateral development bank (MDB), a depository institution, a bank holding company, a savings and loan holding company, a [[Page 421]] credit union, a foreign bank, or a qualifying central counterparty; or (2) An entity (other than a special purpose entity): (i) That at the time the guarantee is issued or anytime thereafter, has issued and outstanding an unsecured debt security without credit enhancement that is investment grade; (ii) Whose creditworthiness is not positively correlated with the credit risk of the exposures for which it has provided guarantees; and (iii) That is not an insurance company engaged predominately in the business of providing credit protection (such as a monoline bond insurer or re-insurer). Eligible margin loan means: (1) An extension of credit where: (i) The extension of credit is collateralized exclusively by liquid and readily marketable debt or equity securities, or gold; (ii) The collateral is marked-to-fair value daily, and the transaction is subject to daily margin maintenance requirements; and (iii) The extension of credit is conducted under an agreement that provides the Board-regulated institution the right to accelerate and terminate the extension of credit and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, insolvency, liquidation, conservatorship, or similar proceeding, of the counterparty, provided that, in any such case: (A) Any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than: (1) In receivership, conservatorship, or resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs,\5\ or laws of foreign jurisdictions that are substantially similar \6\ to the U.S. laws referenced in this paragraph (1)(iii)(A)(1) in order to facilitate the orderly resolution of the defaulting counterparty; or --------------------------------------------------------------------------- \5\ This requirement is met where all transactions under the agreement are (i) executed under U.S. law and (ii) constitute ``securities contracts'' under section 555 of the Bankruptcy Code (11 U.S.C. 555), qualified financial contracts under section 11(e)(8) of the Federal Deposit Insurance Act, or netting contracts between or among financial institutions under sections 401-407 of the Federal Deposit Insurance Corporation Improvement Act or the Federal Reserve Board's Regulation EE (12 CFR part 231). \6\ The Board expects to evaluate jointly with the OCC and Federal Deposit Insurance Corporation whether foreign special resolution regimes meet the requirements of this paragraph. --------------------------------------------------------------------------- (2) Where the agreement is subject by its terms to, or incorporates, any of the laws referenced in paragraph (1)(iii)(A)(1) of this definition; and (B) The agreement may limit the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default of the counterparty to the extent necessary for the counterparty to comply with the requirements of subpart I of the Board's Regulation YY (part 252 of this chapter), part 47 of this title, or part 382 of this title, as applicable. (2) In order to recognize an exposure as an eligible margin loan for purposes of this subpart, a Board-regulated institution must comply with the requirements of Sec. 217.3(b) with respect to that exposure. Eligible servicer cash advance facility means a servicer cash advance facility in which: (1) The servicer is entitled to full reimbursement of advances, except that a servicer may be obligated to make non-reimbursable advances for a particular underlying exposure if any such advance is contractually limited to an insignificant amount of the outstanding principal balance of that exposure; (2) The servicer's right to reimbursement is senior in right of payment to all other claims on the cash flows from the underlying exposures of the securitization; and (3) The servicer has no legal obligation to, and does not make advances to the securitization if the servicer concludes the advances are unlikely to be repaid. Employee stock ownership plan has the same meaning as in 29 CFR 2550.407d-6. [[Page 422]] Equity derivative contract means an equity-linked swap, purchased equity-linked option, forward equity-linked contract, or any other instrument linked to equities that gives rise to similar counterparty credit risks. Equity exposure means: (1) A security or instrument (whether voting or non-voting) that represents a direct or an indirect ownership interest in, and is a residual claim on, the assets and income of a company, unless: (i) The issuing company is consolidated with the Board-regulated institution under GAAP; (ii) The Board-regulated institution is required to deduct the ownership interest from tier 1 or tier 2 capital under this part; (iii) The ownership interest incorporates a payment or other similar obligation on the part of the issuing company (such as an obligation to make periodic payments); or (iv) The ownership interest is a securitization exposure; (2) A security or instrument that is mandatorily convertible into a security or instrument described in paragraph (1) of this definition; (3) An option or warrant that is exercisable for a security or instrument described in paragraph (1) of this definition; or (4) Any other security or instrument (other than a securitization exposure) to the extent the return on the security or instrument is based on the performance of a security or instrument described in paragraph (1) of this definition. ERISA means the Employee Retirement Income and Security Act of 1974 (29 U.S.C. 1001 et seq.). Exchange rate derivative contract means a cross-currency interest rate swap, forward foreign-exchange contract, currency option purchased, or any other instrument linked to exchange rates that gives rise to similar counterparty credit risks. Excluded covered debt instrument means an investment in a covered debt instrument held by a global systemically important BHC or a Board- regulated institution that is a subsidiary of a global systemically important BHC that: (1) Is held in connection with market making-related activities permitted under 12 CFR 248.4, provided that a direct exposure or an indirect exposure to a covered debt instrument is held for 30 business days or less; and (2) Has been designated as an excluded covered debt instrument by the global systemically important BHC or the subsidiary of a global systemically important BHC pursuant to 12 CFR 217.22(c)(5)(iv)(A). Executive officer means a person who holds the title or, without regard to title, salary, or compensation, performs the function of one or more of the following positions: President, chief executive officer, executive chairman, chief operating officer, chief financial officer, chief investment officer, chief legal officer, chief lending officer, chief risk officer, or head of a major business line, and other staff that the board of directors of the Board-regulated institution deems to have equivalent responsibility. Expected credit loss (ECL) means: (1) For a wholesale exposure to a non-defaulted obligor or segment of non-defaulted retail exposures that is carried at fair value with gains and losses flowing through earnings or that is classified as held- for-sale and is carried at the lower of cost or fair value with losses flowing through earnings, zero. (2) For all other wholesale exposures to non-defaulted obligors or segments of non-defaulted retail exposures, the product of the probability of default (PD) times the loss given default (LGD) times the exposure at default (EAD) for the exposure or segment. (3) For a wholesale exposure to a defaulted obligor or segment of defaulted retail exposures, the Board-regulated institution's impairment estimate for allowance purposes for the exposure or segment. (4) Total ECL is the sum of expected credit losses for all wholesale and retail exposures other than exposures for which the Board-regulated institution has applied the double default treatment in Sec. 217.135. Exposure amount means: (1) For the on-balance sheet component of an exposure (other than an available-for-sale or held-to-maturity [[Page 423]] security, if the Board-regulated institution has made an AOCI opt-out election (as defined in Sec. 217.22(b)(2)); an OTC derivative contract; a repo-style transaction or an eligible margin loan for which the Board- regulated institution determines the exposure amount under Sec. 217.37; a cleared transaction; a default fund contribution; or a securitization exposure), the Board-regulated institution's carrying value of the exposure. (2) For a security (that is not a securitization exposure, equity exposure, or preferred stock classified as an equity security under GAAP) classified as available-for-sale or held-to-maturity if the Board- regulated institution has made an AOCI opt-out election (as defined in Sec. 217.22(b)(2)), the Board-regulated institution's carrying value (including net accrued but unpaid interest and fees) for the exposure less any net unrealized gains on the exposure and plus any net unrealized losses on the exposure. (3) For available-for-sale preferred stock classified as an equity security under GAAP if the Board-regulated institution has made an AOCI opt-out election (as defined in Sec. 217.22(b)(2)), the Board-regulated institution's carrying value of the exposure less any net unrealized gains on the exposure that are reflected in such carrying value but excluded from the Board-regulated institution's regulatory capital components. (4) For the off-balance sheet component of an exposure (other than an OTC derivative contract; a repo-style transaction or an eligible margin loan for which the Board-regulated institution calculates the exposure amount under Sec. 217.37; a cleared transaction; a default fund contribution; or a securitization exposure), the notional amount of the off-balance sheet component multiplied by the appropriate credit conversion factor (CCF) in Sec. 217.33. (5) For an exposure that is an OTC derivative contract, the exposure amount determined under Sec. 217.34. (6) For an exposure that is a cleared transaction, the exposure amount determined under Sec. 217.35. (7) For an exposure that is an eligible margin loan or repo-style transaction for which the bank calculates the exposure amount as provided in Sec. 217.37, the exposure amount determined under Sec. 217.37. (8) For an exposure that is a securitization exposure, the exposure amount determined under Sec. 217.42. Federal Deposit Insurance Act means the Federal Deposit Insurance Act (12 U.S.C. 1813). Federal Deposit Insurance Corporation Improvement Act means the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 4401). Fiduciary or custodial and safekeeping account means, for purposes of Sec. 217.10(c)(2)(x), an account administered by a custodial banking organization for which the custodial banking organization provides fiduciary or custodial and safekeeping services, as authorized by applicable Federal or state law. Financial collateral means collateral: (1) In the form of: (i) Cash on deposit with the Board-regulated institution (including cash held for the Board-regulated institution by a third-party custodian or trustee); (ii) Gold bullion; (iii) Long-term debt securities that are not resecuritization exposures and that are investment grade; (iv) Short-term debt instruments that are not resecuritization exposures and that are investment grade; (v) Equity securities that are publicly traded; (vi) Convertible bonds that are publicly traded; or (vii) Money market fund shares and other mutual fund shares if a price for the shares is publicly quoted daily; and (2) In which the Board-regulated institution has a perfected, first- priority security interest or, outside of the United States, the legal equivalent thereof, (with the exception of cash on deposit; and notwithstanding the prior security interest of any custodial agent or any priority security interest granted to a CCP in connection with collateral posted to that CCP). Financial institution means: (1) A bank holding company; savings and loan holding company; nonbank financial institution supervised by the Board under Title I of the Dodd-Frank Act; depository institution; foreign bank; credit union; industrial loan [[Page 424]] company, industrial bank, or other similar institution described in section 2 of the Bank Holding Company Act; national association, state member bank, or state non-member bank that is not a depository institution; insurance company; securities holding company as defined in section 618 of the Dodd-Frank Act; broker or dealer registered with the SEC under section 15 of the Securities Exchange Act; futures commission merchant as defined in section 1a of the Commodity Exchange Act; swap dealer as defined in section 1a of the Commodity Exchange Act; or security-based swap dealer as defined in section 3 of the Securities Exchange Act; (2) Any designated financial market utility, as defined in section 803 of the Dodd-Frank Act; (3) Any entity not domiciled in the United States (or a political subdivision thereof) that is supervised and regulated in a manner similar to entities described in paragraphs (1) or (2) of this definition; or (4) Any other company: (i) Of which the Board-regulated institution owns: (A) An investment in GAAP equity instruments of the company with an adjusted carrying value or exposure amount equal to or greater than $10 million; or (B) More than 10 percent of the company's issued and outstanding common shares (or similar equity interest), and (ii) Which is predominantly engaged in the following activities: (A) Lending money, securities or other financial instruments, including servicing loans; (B) Insuring, guaranteeing, indemnifying against loss, harm, damage, illness, disability, or death, or issuing annuities; (C) Underwriting, dealing in, making a market in, or investing as principal in securities or other financial instruments; or (D) Asset management activities (not including investment or financial advisory activities). (5) For the purposes of this definition, a company is ``predominantly engaged'' in an activity or activities if: (i) 85 percent or more of the total consolidated annual gross revenues (as determined in accordance with applicable accounting standards) of the company is either of the two most recent calendar years were derived, directly or indirectly, by the company on a consolidated basis from the activities; or (ii) 85 percent or more of the company's consolidated total assets (as determined in accordance with applicable accounting standards) as of the end of either of the two most recent calendar years were related to the activities. (6) Any other company that the Board may determine is a financial institution based on activities similar in scope, nature, or operation to those of the entities included in paragraphs (1) through (4) of this definition. (7) For purposes of this part, ``financial institution'' does not include the following entities: (i) GSEs; (ii) Small business investment companies, as defined in section 102 of the Small Business Investment Act of 1958 (15 U.S.C. 662); (iii) Entities designated as Community Development Financial Institutions (CDFIs) under 12 U.S.C. 4701 et seq. and 12 CFR part 1805; (iv) Entities registered with the SEC under the Investment Company Act of 1940 (15 U.S.C. 80a-1) or foreign equivalents thereof; (v) Entities to the extent that the Board-regulated institution's investment in such entities would qualify as a community development investment under section 24 (Eleventh) of the National Bank Act; and (vi) An employee benefit plan as defined in paragraphs (3) and (32) of section 3 of ERISA, a ``governmental plan'' (as defined in 29 U.S.C. 1002(32)) that complies with the tax deferral qualification requirements provided in the Internal Revenue Code, or any similar employee benefit plan established under the laws of a foreign jurisdiction. First-lien residential mortgage exposure means a residential mortgage exposure secured by a first lien. Foreign bank means a foreign bank as defined in Sec. 211.2 of the Federal Reserve Board's Regulation K (12 CFR 211.2) (other than a depository institution). [[Page 425]] Forward agreement means a legally binding contractual obligation to purchase assets with certain drawdown at a specified future date, not including commitments to make residential mortgage loans or forward foreign exchange contracts. FR Y-9LP means the Parent Company Only Financial Statements for Large Holding Companies. FR Y-15 means the Systemic Risk Report. GAAP means generally accepted accounting principles as used in the United States. Gain-on-sale means an increase in the equity capital of a Board- regulated institution (as reported on [Schedule RC of the Call Report or Schedule HC of the FR Y-9C]) resulting from a traditional securitization (other than an increase in equity capital resulting from the Board- regulated institution's receipt of cash in connection with the securitization or reporting of a mortgage servicing asset on [Schedule RC of the Call Report or Schedule HC of the FRY-9C]). General obligation means a bond or similar obligation that is backed by the full faith and credit of a public sector entity (PSE). Global systemically important BHC means a bank holding company that is identified as a global systemically important BHC pursuant to Sec. 217.402. Government-sponsored enterprise (GSE) means an entity established or chartered by the U.S. government to serve public purposes specified by the U.S. Congress but whose debt obligations are not explicitly guaranteed by the full faith and credit of the U.S. government. GSIB surcharge means the capital surcharge applicable to a global systemically important BHC calculated pursuant to Sec. 217.403. Guarantee means a financial guarantee, letter of credit, insurance, or other similar financial instrument (other than a credit derivative) that allows one party (beneficiary) to transfer the credit risk of one or more specific exposures (reference exposure) to another party (protection provider). High volatility commercial real estate (HVCRE) exposure means: (1) A credit facility secured by land or improved real property that, prior to being reclassified by the Board-regulated institution as a non-HVCRE exposure pursuant to paragraph (6) of this definition-- (i) Primarily finances, has financed, or refinances the acquisition, development, or construction of real property; (ii) Has the purpose of providing financing to acquire, develop, or improve such real property into income-producing real property; and (iii) Is dependent upon future income or sales proceeds from, or refinancing of, such real property for the repayment of such credit facility. (2) An HVCRE exposure does not include a credit facility financing-- (i) The acquisition, development, or construction of properties that are-- (A) One- to four-family residential properties. Credit facilities that do not finance the construction of one- to four-family residential structures, but instead solely finance improvements such as the laying of sewers, water pipes, and similar improvements to land, do not qualify for the one- to four-family residential properties exclusion; (B) Real property that would qualify as an investment in community development; or (C) Agricultural land; (ii) The acquisition or refinance of existing income-producing real property secured by a mortgage on such property, if the cash flow being generated by the real property is sufficient to support the debt service and expenses of the real property, in accordance with the Board- regulated institution's applicable loan underwriting criteria for permanent financings; (iii) Improvements to existing income-producing improved real property secured by a mortgage on such property, if the cash flow being generated by the real property is sufficient to support the debt service and expenses of the real property, in accordance with the Board- regulated institution's applicable loan underwriting criteria for permanent financings; or (iv) Commercial real property projects in which-- [[Page 426]] (A) The loan-to-value ratio is less than or equal to the applicable maximum supervisory loan-to-value ratio as determined by the Board; (B) The borrower has contributed capital of at least 15 percent of the real property's appraised, `as completed' value to the project in the form of-- (1) Cash; (2) Unencumbered readily marketable assets; (3) Paid development expenses out-of-pocket; or (4) Contributed real property or improvements; and (C) The borrower contributed the minimum amount of capital described under paragraph (2)(iv)(B) of this definition before the Board-regulated institution advances funds (other than the advance of a nominal sum made in order to secure the Board-regulated institution's lien against the real property) under the credit facility, and such minimum amount of capital contributed by the borrower is contractually required to remain in the project until the HVCRE exposure has been reclassified by the Board-regulated institution as a non-HVCRE exposure under paragraph (6) of this definition; (3) An HVCRE exposure does not include any loan made prior to January 1, 2015; (4) An HVCRE exposure does not include a credit facility reclassified as a non-HVCRE exposure under paragraph (6) of this definition. (5) Value of contributed real property: For the purposes of this definition of HVCRE exposure, the value of any real property contributed by a borrower as a capital contribution is the appraised value of the property as determined under standards prescribed pursuant to section 1110 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3339), in connection with the extension of the credit facility or loan to such borrower. (6) Reclassification as a non-HVCRE exposure: For purposes of this definition of HVCRE exposure and with respect to a credit facility and a Board-regulated institution, a Board-regulated institution may reclassify an HVCRE exposure as a non-HVCRE exposure upon-- (i) The substantial completion of the development or construction of the real property being financed by the credit facility; and (ii) Cash flow being generated by the real property being sufficient to support the debt service and expenses of the real property, in accordance with the Board-regulated institution's applicable loan underwriting criteria for permanent financings. (7) For purposes of this definition, a Board-regulated institution is not required to reclassify a credit facility that was originated on or after January 1, 2015 and prior to April 1, 2020. Home country means the country where an entity is incorporated, chartered, or similarly established. Independent collateral means financial collateral, other than variation margin, that is subject to a collateral agreement, or in which a Board-regulated institution has a perfected, first-priority security interest or, outside of the United States, the legal equivalent thereof (with the exception of cash on deposit; notwithstanding the prior security interest of any custodial agent or any prior security interest granted to a CCP in connection with collateral posted to that CCP), and the amount of which does not change directly in response to the value of the derivative contract or contracts that the financial collateral secures. Indirect exposure means an exposure that arises from the Board- regulated institution's investment in an investment fund which holds an investment in the Board-regulated institution's own capital instrument or an investment in the capital of an unconsolidated financial institution. For an advanced approaches Board-regulated institution, indirect exposure also includes an investment in an investment fund that holds a covered debt instrument. Insurance company means an insurance company as defined in section 201 of the Dodd-Frank Act (12 U.S.C. 5381). Insurance underwriting company means an insurance company as defined in section 201 of the Dodd-Frank Act (12 U.S.C. 5381) that engages in insurance underwriting activities. [[Page 427]] Insured depository institution means an insured depository institution as defined in section 3 of the Federal Deposit Insurance Act. Interest rate derivative contract means a single-currency interest rate swap, basis swap, forward rate agreement, purchased interest rate option, when-issued securities, or any other instrument linked to interest rates that gives rise to similar counterparty credit risks. International Lending Supervision Act means the International Lending Supervision Act of 1983 (12 U.S.C. 3901 et seq.). Investing bank means, with respect to a securitization, a Board- regulated institution that assumes the credit risk of a securitization exposure (other than an originating Board-regulated institution of the securitization). In the typical synthetic securitization, the investing Board-regulated institution sells credit protection on a pool of underlying exposures to the originating Board-regulated institution. Investment fund means a company: (1) Where all or substantially all of the assets of the company are financial assets; and (2) That has no material liabilities. Investment grade means that the entity to which the Board-regulated institution is exposed through a loan or security, or the reference entity with respect to a credit derivative, has adequate capacity to meet financial commitments for the projected life of the asset or exposure. Such an entity or reference entity has adequate capacity to meet financial commitments if the risk of its default is low and the full and timely repayment of principal and interest is expected. Investment in a covered debt instrument means a Board-regulated institution's net long position calculated in accordance with Sec. 217.22(h) in a covered debt instrument, including direct, indirect, and synthetic exposures to the debt instrument, excluding any underwriting positions held by the Board-regulated institution for five or fewer business days. Investment in the capital of an unconsolidated financial institution means a net long position calculated in accordance with Sec. 217.22(h) in an instrument that is recognized as capital for regulatory purposes by the primary supervisor of an unconsolidated regulated financial institution or is an instrument that is part of the GAAP equity of an unconsolidated unregulated financial institution, including direct, indirect, and synthetic exposures to capital instruments, excluding underwriting positions held by the Board-regulated institution for five or fewer business days. Investment in the Board-regulated institution's own capital instrument means a net long position calculated in accordance with Sec. 217.22(h) in the Board-regulated institution's own common stock instrument, own additional tier 1 capital instrument or own tier 2 capital instrument, including direct, indirect, or synthetic exposures to such capital instruments. An investment in the Board-regulated institution's own capital instrument includes any contractual obligation to purchase such capital instrument. Junior-lien residential mortgage exposure means a residential mortgage exposure that is not a first-lien residential mortgage exposure. Main index means the Standard & Poor's 500 Index, the FTSE All-World Index, and any other index for which the Board-regulated institution can demonstrate to the satisfaction of the Board that the equities represented in the index have comparable liquidity, depth of market, and size of bid-ask spreads as equities in the Standard & Poor's 500 Index and FTSE All-World Index. Market risk Board-regulated institution means a Board-regulated institution that is described in Sec. 217.201(b). Minimum transfer amount means the smallest amount of variation margin that may be transferred between counterparties to a netting set pursuant to the variation margin agreement. Money market fund means an investment fund that is subject to 17 CFR 270.2a-7 or any foreign equivalent thereof. Mortgage servicing assets (MSAs) means the contractual rights owned by a Board-regulated institution to service for a fee mortgage loans that are owned by others. [[Page 428]] Multilateral development bank (MDB) means the International Bank for Reconstruction and Development, the Multilateral Investment Guarantee Agency, the International Finance Corporation, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the European Investment Fund, the Nordic Investment Bank, the Caribbean Development Bank, the Islamic Development Bank, the Council of Europe Development Bank, and any other multilateral lending institution or regional development bank in which the U.S. government is a shareholder or contributing member or which the Board determines poses comparable credit risk. National Bank Act means the National Bank Act (12 U.S.C. 24). Net independent collateral amount means the fair value amount of the independent collateral, as adjusted by the standard supervisory haircuts under Sec. 217.132(b)(2)(ii), as applicable, that a counterparty to a netting set has posted to a Board-regulated institution less the fair value amount of the independent collateral, as adjusted by the standard supervisory haircuts under Sec. 217.132(b)(2)(ii), as applicable, posted by the Board-regulated institution to the counterparty, excluding such amounts held in a bankruptcy remote manner or posted to a QCCP and held in conformance with the operational requirements in Sec. 217.3. Netting set means a group of transactions with a single counterparty that are subject to a qualifying master netting agreement. For derivative contracts, netting set also includes a single derivative contract between a Board-regulated institution and a single counterparty. For purposes of the internal model methodology under Sec. 217.132(d), netting set also includes a group of transactions with a single counterparty that are subject to a qualifying cross-product master netting agreement and does not include a transaction: (1) That is not subject to such a master netting agreement; or (2) Where the Board-regulated institution has identified specific wrong-way risk. Non-guaranteed separate account means a separate account where the insurance company: (1) Does not contractually guarantee either a minimum return or account value to the contract holder; and (2) Is not required to hold reserves (in the general account) pursuant to its contractual obligations to a policyholder. Non-significant investment in the capital of an unconsolidated financial institution means an investment by an advanced approaches Board-regulated institution in the capital of an unconsolidated financial institution where the advanced approaches Board-regulated institution owns 10 percent or less of the issued and outstanding common stock of the unconsolidated financial institution. N\th\-to-default credit derivative means a credit derivative that provides credit protection only for the n\th\-defaulting reference exposure in a group of reference exposures. Operating entity means a company established to conduct business with clients with the intention of earning a profit in its own right. Original maturity with respect to an off-balance sheet commitment means the length of time between the date a commitment is issued and: (1) For a commitment that is not subject to extension or renewal, the stated expiration date of the commitment; or (2) For a commitment that is subject to extension or renewal, the earliest date on which the Board-regulated institution can, at its option, unconditionally cancel the commitment. Originating Board-regulated institution, with respect to a securitization, means a Board-regulated institution that: (1) Directly or indirectly originated or securitized the underlying exposures included in the securitization; or (2) Serves as an ABCP program sponsor to the securitization. Over-the-counter (OTC) derivative contract means a derivative contract that is not a cleared transaction. An OTC derivative includes a transaction: [[Page 429]] (1) Between a Board-regulated institution that is a clearing member and a counterparty where the Board-regulated institution is acting as a financial intermediary and enters into a cleared transaction with a CCP that offsets the transaction with the counterparty; or (2) In which a Board-regulated institution that is a clearing member provides a CCP a guarantee on the performance of the counterparty to the transaction. Performance standby letter of credit (or performance bond) means an irrevocable obligation of a Board-regulated institution to pay a third- party beneficiary when a customer (account party) fails to perform on any contractual nonfinancial or commercial obligation. To the extent permitted by law or regulation, performance standby letters of credit include arrangements backing, among other things, subcontractors' and suppliers' performance, labor and materials contracts, and construction bids. Policy loan means a loan by an insurance company to a policy holder pursuant to the provisions of an insurance contract that is secured by the cash surrender value or collateral assignment of the related policy or contract. A policy loan includes: (1) A cash loan, including a loan resulting from early payment benefits or accelerated payment benefits, on an insurance contract when the terms of contract specify that the payment is a policy loan secured by the policy; and (2) An automatic premium loan, which is a loan that is made in accordance with policy provisions which provide that delinquent premium payments are automatically paid from the cash value at the end of the established grace period for premium payments. Pre-sold construction loan means any one-to-four family residential construction loan to a builder that meets the requirements of section 618(a)(1) or (2) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 (12 U.S.C. 1831n note) and the following criteria: (1) The loan is made in accordance with prudent underwriting standards, meaning that the Board-regulated institution has obtained sufficient documentation that the buyer of the home has a legally binding written sales contract and has a firm written commitment for permanent financing of the home upon completion; (2) The purchaser is an individual(s) that intends to occupy the residence and is not a partnership, joint venture, trust, corporation, or any other entity (including an entity acting as a sole proprietorship) that is purchasing one or more of the residences for speculative purposes; (3) The purchaser has entered into a legally binding written sales contract for the residence; (4) The purchaser has not terminated the contract; however, if the purchaser terminates the sales contract, the Board must immediately apply a 100 percent risk weight to the loan and report the revised risk weight in the next quarterly Call Report, for a state member bank, or the FR Y-9C, for a bank holding company or savings and loan holding company, as applicable, (5) The purchaser has made a substantial earnest money deposit of no less than 3 percent of the sales price, which is subject to forfeiture if the purchaser terminates the sales contract; provided that, the earnest money deposit shall not be subject to forfeiture by reason of breach or termination of the sales contract on the part of the builder; (6) The earnest money deposit must be held in escrow by the Board- regulated institution or an independent party in a fiduciary capacity, and the escrow agreement must provide that in an event of default arising from the cancellation of the sales contract by the purchaser of the residence, the escrow funds shall be used to defray any cost incurred by the Board-regulated institution; (7) The builder must incur at least the first 10 percent of the direct costs of construction of the residence (that is, actual costs of the land, labor, and material) before any drawdown is made under the loan; (8) The loan may not exceed 80 percent of the sales price of the presold residence; and (9) The loan is not more than 90 days past due, or on nonaccrual. [[Page 430]] Protection amount (P) means, with respect to an exposure hedged by an eligible guarantee or eligible credit derivative, the effective notional amount of the guarantee or credit derivative, reduced to reflect any currency mismatch, maturity mismatch, or lack of restructuring coverage (as provided in Sec. Sec. 217.36 or 217.134, as appropriate). Publicly-traded means traded on: (1) Any exchange registered with the SEC as a national securities exchange under section 6 of the Securities Exchange Act; or (2) Any non-U.S.-based securities exchange that: (i) Is registered with, or approved by, a national securities regulatory authority; and (ii) Provides a liquid, two-way market for the instrument in question. Public sector entity (PSE) means a state, local authority, or other governmental subdivision below the sovereign level. Qualifying central bank means: (1) A Federal Reserve Bank; (2) The European Central Bank; and (3) The central bank of any member country of the Organisation for Economic Co-operation and Development, if: (i) Sovereign exposures to the member country would receive a zero percent risk-weight under Sec. 217.32; and (ii) The sovereign debt of the member country is not in default or has not been in default during the previous 5 years. Qualifying central counterparty (QCCP) means a central counterparty that: (1)(i) Is a designated financial market utility (FMU) under Title VIII of the Dodd-Frank Act; (ii) If not located in the United States, is regulated and supervised in a manner equivalent to a designated FMU; or (iii) Meets the following standards: (A) The central counterparty requires all parties to contracts cleared by the counterparty to be fully collateralized on a daily basis; (B) The Board-regulated institution demonstrates to the satisfaction of the Board that the central counterparty: (1) Is in sound financial condition; (2) Is subject to supervision by the Board, the CFTC, or the Securities Exchange Commission (SEC), or, if the central counterparty is not located in the United States, is subject to effective oversight by a national supervisory authority in its home country; and (3) Meets or exceeds the risk-management standards for central counterparties set forth in regulations established by the Board, the CFTC, or the SEC under Title VII or Title VIII of the Dodd-Frank Act; or if the central counterparty is not located in the United States, meets or exceeds similar risk-management standards established under the law of its home country that are consistent with international standards for central counterparty risk management as established by the relevant standard setting body of the Bank of International Settlements; and (2)(i) Provides the Board-regulated institution with the central counterparty's hypothetical capital requirement or the information necessary to calculate such hypothetical capital requirement, and other information the Board-regulated institution is required to obtain under Sec. Sec. 217.35(d)(3) and 217.133(d)(3); (ii) Makes available to the Board and the CCP's regulator the information described in paragraph (2)(i) of this definition; and (iii) Has not otherwise been determined by the Board to not be a QCCP due to its financial condition, risk profile, failure to meet supervisory risk management standards, or other weaknesses or supervisory concerns that are inconsistent with the risk weight assigned to qualifying central counterparties under Sec. Sec. 217.35 and 217.133. (3) Exception. A QCCP that fails to meet the requirements of a QCCP in the future may still be treated as a QCCP under the conditions specified in Sec. 217.3(f). Qualifying master netting agreement means a written, legally enforceable agreement provided that: (1) The agreement creates a single legal obligation for all individual transactions covered by the agreement upon an event of default following any stay permitted by paragraph (2) of this [[Page 431]] definition, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty; (2) The agreement provides the Board-regulated institution the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty, provided that, in any such case: (i) Any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than: (A) In receivership, conservatorship, or resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs, or laws of foreign jurisdictions that are substantially similar \7\ to the U.S. laws referenced in this paragraph (2)(i)(A) in order to facilitate the orderly resolution of the defaulting counterparty; or --------------------------------------------------------------------------- \7\ The Board expects to evaluate jointly with the OCC and Federal Deposit Insurance Corporation whether foreign special resolution regimes meet the requirements of this paragraph. --------------------------------------------------------------------------- (B) Where the agreement is subject by its terms to, or incorporates, any of the laws referenced in paragraph (2)(i)(A) of this definition; and (ii) The agreement may limit the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default of the counterparty to the extent necessary for the counterparty to comply with the requirements of subpart I of the Board's Regulation YY (part 252 of this chapter), part 47 of this title, or part 382 of this title, as applicable; Regulated financial institution means a financial institution subject to consolidated supervision and regulation comparable to that imposed on the following U.S. financial institutions: Depository institutions, depository institution holding companies, nonbank financial companies supervised by the Board, designated financial market utilities, securities broker-dealers, credit unions, or insurance companies. Repo-style transaction means a repurchase or reverse repurchase transaction, or a securities borrowing or securities lending transaction, including a transaction in which the Board-regulated institution acts as agent for a customer and indemnifies the customer against loss, provided that: (1) The transaction is based solely on liquid and readily marketable securities, cash, or gold; (2) The transaction is marked-to-fair value daily and subject to daily margin maintenance requirements; (3)(i) The transaction is a ``securities contract'' or ``repurchase agreement'' under section 555 or 559, respectively, of the Bankruptcy Code (11 U.S.C. 555 or 559), a qualified financial contract under section 11(e)(8) of the Federal Deposit Insurance Act, or a netting contract between or among financial institutions under sections 401-407 of the Federal Deposit Insurance Corporation Improvement Act or the Federal Reserve Board's Regulation EE (12 CFR part 231); or (ii) If the transaction does not meet the criteria set forth in paragraph (3)(i) of this definition, then either: (A) The transaction is executed under an agreement that provides the Board-regulated institution the right to accelerate, terminate, and close-out the transaction on a net basis and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, insolvency, liquidation, or similar proceeding, of the counterparty, provided that, in any such case: (1) Any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than: (i) In receivership, conservatorship, or resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs, or laws of foreign jurisdictions that are substantially similar \8\ to the U.S. laws referenced in this paragraph (3)(ii)(A)(1)(i) [[Page 432]] in order to facilitate the orderly resolution of the defaulting counterparty; --------------------------------------------------------------------------- \8\ The Board expects to evaluate jointly with the OCC and Federal Deposit Insurance Corporation whether foreign special resolution regimes meet the requirements of this paragraph. --------------------------------------------------------------------------- (ii) Where the agreement is subject by its terms to, or incorporates, any of the laws referenced in paragraph (3)(ii)(A)(1)(i) of this definition; and (2) The agreement may limit the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default of the counterparty to the extent necessary for the counterparty to comply with the requirements of subpart I of the Board's Regulation YY (part 252 of this chapter), part 47 of this title, or part 382 of this title, as applicable; or (B) The transaction is: (1) Either overnight or unconditionally cancelable at any time by the Board-regulated institution; and (2) Executed under an agreement that provides the Board-regulated institution the right to accelerate, terminate, and close-out the transaction on a net basis and to liquidate or set-off collateral promptly upon an event of counterparty default; and (4) In order to recognize an exposure as a repo-style transaction for purposes of this subpart, a Board-regulated institution must comply with the requirements of Sec. 217.3(e) of this part with respect to that exposure. Resecuritization means a securitization which has more than one underlying exposure and in which one or more of the underlying exposures is a securitization exposure. Resecuritization exposure means: (1) An on- or off-balance sheet exposure to a resecuritization; (2) An exposure that directly or indirectly references a resecuritization exposure. (3) An exposure to an asset-backed commercial paper program is not a resecuritization exposure if either: (i) The program-wide credit enhancement does not meet the definition of a resecuritization exposure; or (ii) The entity sponsoring the program fully supports the commercial paper through the provision of liquidity so that the commercial paper holders effectively are exposed to the default risk of the sponsor instead of the underlying exposures. Residential mortgage exposure means an exposure (other than a securitization exposure, equity exposure, statutory multifamily mortgage, or presold construction loan): (1)(i) That is primarily secured by a first or subsequent lien on one-to-four family residential property; or (ii) With an original and outstanding amount of $1 million or less that is primarily secured by a first or subsequent lien on residential property that is not one-to-four family; and (2) For purposes of calculating capital requirements under subpart E of this part, managed as part of a segment of exposures with homogeneous risk characteristics and not on an individual-exposure basis. Revenue obligation means a bond or similar obligation that is an obligation of a PSE, but which the PSE is committed to repay with revenues from the specific project financed rather than general tax funds. Savings and loan holding company means a savings and loan holding company as defined in section 10 of the Home Owners' Loan Act (12 U.S.C. 1467a). Securities and Exchange Commission (SEC) means the U.S. Securities and Exchange Commission. Securities Exchange Act means the Securities Exchange Act of 1934 (15 U.S.C. 78). Securitization exposure means: (1) An on-balance sheet or off-balance sheet credit exposure (including credit-enhancing representations and warranties) that arises from a traditional securitization or synthetic securitization (including a resecuritization), or (2) An exposure that directly or indirectly references a securitization exposure described in paragraph (1) of this definition. Securitization special purpose entity (securitization SPE) means a corporation, trust, or other entity organized for the specific purpose of holding underlying exposures of a securitization, the activities of which are limited to those appropriate to accomplish this [[Page 433]] purpose, and the structure of which is intended to isolate the underlying exposures held by the entity from the credit risk of the seller of the underlying exposures to the entity. Separate account means a legally segregated pool of assets owned and held by an insurance company and maintained separately from the insurance company's general account assets for the benefit of an individual contract holder. To be a separate account: (1) The account must be legally recognized as a separate account under applicable law; (2) The assets in the account must be insulated from general liabilities of the insurance company under applicable law in the event of the insurance company's insolvency; (3) The insurance company must invest the funds within the account as directed by the contract holder in designated investment alternatives or in accordance with specific investment objectives or policies; and (4) All investment gains and losses, net of contract fees and assessments, must be passed through to the contract holder, provided that the contract may specify conditions under which there may be a minimum guarantee but must not include contract terms that limit the maximum investment return available to the policyholder. Servicer cash advance facility means a facility under which the servicer of the underlying exposures of a securitization may advance cash to ensure an uninterrupted flow of payments to investors in the securitization, including advances made to cover foreclosure costs or other expenses to facilitate the timely collection of the underlying exposures. Significant investment in the capital of an unconsolidated financial institution means an investment by an advanced approaches Board- regulated institution in the capital of an unconsolidated financial institution where the advanced approaches Board-regulated institution owns more than 10 percent of the issued and outstanding common stock of the unconsolidated financial institution. Small Business Act means the Small Business Act (15 U.S.C. 632). Small Business Investment Act means the Small Business Investment Act of 1958 (15 U.S.C. 682). Sovereign means a central government (including the U.S. government) or an agency, department, ministry, or central bank of a central government. Sovereign default means noncompliance by a sovereign with its external debt service obligations or the inability or unwillingness of a sovereign government to service an existing loan according to its original terms, as evidenced by failure to pay principal and interest timely and fully, arrearages, or restructuring. Sovereign exposure means: (1) A direct exposure to a sovereign; or (2) An exposure directly and unconditionally backed by the full faith and credit of a sovereign. Specific wrong-way risk means wrong-way risk that arises when either: (1) The counterparty and issuer of the collateral supporting the transaction; or (2) The counterparty and the reference asset of the transaction, are affiliates or are the same entity. Speculative grade means the reference entity has adequate capacity to meet financial commitments in the near term, but is vulnerable to adverse economic conditions, such that should economic conditions deteriorate, the reference entity would present an elevated default risk. Standardized market risk-weighted assets means the standardized measure for market risk calculated under Sec. 217.204 multiplied by 12.5. Standardized total risk-weighted assets means: (1) The sum of: (i) Total risk-weighted assets for general credit risk as calculated under Sec. 217.31; (ii) Total risk-weighted assets for cleared transactions and default fund contributions as calculated under Sec. 217.35; (iii) Total risk-weighted assets for unsettled transactions as calculated under Sec. 217.38; (iv) Total risk-weighted assets for securitization exposures as calculated under Sec. 217.42; [[Page 434]] (v) Total risk-weighted assets for equity exposures as calculated under Sec. Sec. 217.52 and 217.53; and (vi) For a market risk Board-regulated institution only, standardized market risk-weighted assets; minus (2) Any amount of the Board-regulated institution's allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, that is not included in tier 2 capital and any amount of ``allocated transfer risk reserves.'' State bank means any bank incorporated by special law of any State, or organized under the general laws of any State, or of the United States, including a Morris Plan bank, or other incorporated banking institution engaged in a similar business. State member bank or member bank means a state bank that is a member of the Federal Reserve System. Statutory multifamily mortgage means a loan secured by a multifamily residential property that meets the requirements under section 618(b)(1) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991, and that meets the following criteria: \9\ --------------------------------------------------------------------------- \9\ The types of loans that qualify as loans secured by multifamily residential properties are listed in the instructions for preparation of the Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable. --------------------------------------------------------------------------- (1) The loan is made in accordance with prudent underwriting standards; (2) The principal amount of the loan at origination does not exceed 80 percent of the value of the property (or 75 percent of the value of the property if the loan is based on an interest rate that changes over the term of the loan) where the value of the property is the lower of the acquisition cost of the property or the appraised (or, if appropriate, evaluated) value of the property; (3) All principal and interest payments on the loan must have been made on a timely basis in accordance with the terms of the loan for at least one year prior to applying a 50 percent risk weight to the loan, or in the case where an existing owner is refinancing a loan on the property, all principal and interest payments on the loan being refinanced must have been made on a timely basis in accordance with the terms of the loan for at least one year prior to applying a 50 percent risk weight to the loan; (4) Amortization of principal and interest on the loan must occur over a period of not more than 30 years and the minimum original maturity for repayment of principal must not be less than 7 years; (5) Annual net operating income (before making any payment on the loan) generated by the property securing the loan during its most recent fiscal year must not be less than 120 percent of the loan's current annual debt service (or 115 percent of current annual debt service if the loan is based on an interest rate that changes over the term of the loan) or, in the case of a cooperative or other not-for-profit housing project, the property must generate sufficient cash flow to provide comparable protection to the Board-regulated institution; and (6) The loan is not more than 90 days past due, or on nonaccrual. Sub-speculative grade means the reference entity depends on favorable economic conditions to meet its financial commitments, such that should such economic conditions deteriorate the reference entity likely would default on its financial commitments. Subsidiary means, with respect to a company, a company controlled by that company. Synthetic exposure means an exposure whose value is linked to the value of an investment in the Board-regulated institution's own capital instrument or to the value of an investment in the capital of an unconsolidated financial institution. For an advanced approaches Board- regulated institution, synthetic exposure includes an exposure whose value is linked to the value of an investment in a covered debt instrument. Synthetic securitization means a transaction in which: (1) All or a portion of the credit risk of one or more underlying exposures is retained or transferred to one or more third parties through the use of one or more credit derivatives or guarantees (other than a guarantee that transfers [[Page 435]] only the credit risk of an individual retail exposure); (2) The credit risk associated with the underlying exposures has been separated into at least two tranches reflecting different levels of seniority; (3) Performance of the securitization exposures depends upon the performance of the underlying exposures; and (4) All or substantially all of the underlying exposures are financial exposures (such as loans, commitments, credit derivatives, guarantees, receivables, asset-backed securities, mortgage-backed securities, other debt securities, or equity securities). Tier 1 capital means the sum of common equity tier 1 capital and additional tier 1 capital. Tier 1 minority interest means the tier 1 capital of a consolidated subsidiary of a Board-regulated institution that is not owned by the Board-regulated institution. Tier 2 capital is defined in Sec. 217.20(d). Total capital means the sum of tier 1 capital and tier 2 capital. Total capital minority interest means the total capital of a consolidated subsidiary of a Board-regulated institution that is not owned by the Board-regulated institution. Total leverage exposure is defined in Sec. 217.10(c)(2). Traditional securitization means a transaction in which: (1) All or a portion of the credit risk of one or more underlying exposures is transferred to one or more third parties other than through the use of credit derivatives or guarantees; (2) The credit risk associated with the underlying exposures has been separated into at least two tranches reflecting different levels of seniority; (3) Performance of the securitization exposures depends upon the performance of the underlying exposures; (4) All or substantially all of the underlying exposures are financial exposures (such as loans, commitments, credit derivatives, guarantees, receivables, asset-backed securities, mortgage-backed securities, other debt securities, or equity securities); (5) The underlying exposures are not owned by an operating company; (6) The underlying exposures are not owned by a small business investment company defined in section 302 of the Small Business Investment Act; (7) The underlying exposures are not owned by a firm an investment in which qualifies as a community development investment under section 24(Eleventh) of the National Bank Act; (8) The Board may determine that a transaction in which the underlying exposures are owned by an investment firm that exercises substantially unfettered control over the size and composition of its assets, liabilities, and off-balance sheet exposures is not a traditional securitization based on the transaction's leverage, risk profile, or economic substance; (9) The Board may deem a transaction that meets the definition of a traditional securitization, notwithstanding paragraph (5), (6), or (7) of this definition, to be a traditional securitization based on the transaction's leverage, risk profile, or economic substance; and (10) The transaction is not: (i) An investment fund; (ii) A collective investment fund (as defined in 12 CFR 208.34); (iii) An employee benefit plan (as defined in paragraphs (3) and (32) of section 3 of ERISA), a ``governmental plan'' (as defined in 29 U.S.C. 1002(32)) that complies with the tax deferral qualification requirements provided in the Internal Revenue Code, or any similar employee benefit plan established under the laws of a foreign jurisdiction; (iv) A synthetic exposure to the capital of a financial institution to the extent deducted from capital under Sec. 217.22; or (v) Registered with the SEC under the Investment Company Act of 1940 (15 U.S.C. 80a-1) or foreign equivalents thereof. Tranche means all securitization exposures associated with a securitization that have the same seniority level. Two-way market means a market where there are independent bona fide offers to buy and sell so that a price reasonably related to the last sales price or current bona fide competitive bid and offer quotations can be determined within one day and settled at that price within a relatively short [[Page 436]] time frame conforming to trade custom. Unconditionally cancelable means with respect to a commitment, that a Board-regulated institution may, at any time, with or without cause, refuse to extend credit under the commitment (to the extent permitted under applicable law). Underlying exposures means one or more exposures that have been securitized in a securitization transaction. Unregulated financial institution means, for purposes of Sec. 217.131, a financial institution that is not a regulated financial institution, including any financial institution that would meet the definition of ``financial institution'' under this section but for the ownership interest thresholds set forth in paragraph (4)(i) of that definition. U.S. Government agency means an instrumentality of the U.S. Government whose obligations are fully and explicitly guaranteed as to the timely payment of principal and interest by the full faith and credit of the U.S. Government. U.S. intermediate holding company means the company that is required to be established or designated pursuant to 12 CFR 252.153. Value-at-Risk (VaR) means the estimate of the maximum amount that the value of one or more exposures could decline due to market price or rate movements during a fixed holding period within a stated confidence interval. Variation margin means financial collateral that is subject to a collateral agreement provided by one party to its counterparty to meet the performance of the first party's obligations under one or more transactions between the parties as a result of a change in value of such obligations since the last time such financial collateral was provided. Variation margin agreement means an agreement to collect or post variation margin. Variation margin amount means the fair value amount of the variation margin, as adjusted by the standard supervisory haircuts under Sec. 217.132(b)(2)(ii), as applicable, that a counterparty to a netting set has posted to a Board-regulated institution less the fair value amount of the variation margin, as adjusted by the standard supervisory haircuts under Sec. 217.132(b)(2)(ii), as applicable, posted by the Board-regulated institution to the counterparty. Variation margin threshold means the amount of credit exposure of a Board-regulated institution to its counterparty that, if exceeded, would require the counterparty to post variation margin to the Board-regulated institution pursuant to the variation margin agreement. Volatility derivative contract means a derivative contract in which the payoff of the derivative contract explicitly depends on a measure of the volatility of an underlying risk factor to the derivative contract. Wrong-way risk means the risk that arises when an exposure to a particular counterparty is positively correlated with the probability of default of such counterparty itself. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013] Editorial Note: For Federal Register citations affecting Sec. 217.2, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.fdsys.gov. Sec. 217.3 Operational requirements for counterparty credit risk. For purposes of calculating risk-weighted assets under subparts D and E of this part: (a) Cleared transaction. In order to recognize certain exposures as cleared transactions pursuant to paragraphs (1)(ii), (iii) or (iv) of the definition of ``cleared transaction'' in Sec. 217.2, the exposures must meet the applicable requirements set forth in this paragraph (a). (1) The offsetting transaction must be identified by the CCP as a transaction for the clearing member client. (2) The collateral supporting the transaction must be held in a manner that prevents the Board-regulated institution from facing any loss due to an event of default, including from a liquidation, receivership, insolvency, or similar proceeding of either the clearing member or the clearing member's other clients. Omnibus accounts established under 17 CFR parts 190 and 300 satisfy the requirements of this paragraph (a). [[Page 437]] (3) The Board-regulated institution must conduct sufficient legal review to conclude with a well-founded basis (and maintain sufficient written documentation of that legal review) that in the event of a legal challenge (including one resulting from a default or receivership, insolvency, liquidation, or similar proceeding) the relevant court and administrative authorities would find the arrangements of paragraph (a)(2) of this section to be legal, valid, binding and enforceable under the law of the relevant jurisdictions. (4) The offsetting transaction with a clearing member must be transferable under the transaction documents and applicable laws in the relevant jurisdiction(s) to another clearing member should the clearing member default, become insolvent, or enter receivership, insolvency, liquidation, or similar proceedings. (b) Eligible margin loan. In order to recognize an exposure as an eligible margin loan as defined in Sec. 217.2, a Board-regulated institution must conduct sufficient legal review to conclude with a well-founded basis (and maintain sufficient written documentation of that legal review) that the agreement underlying the exposure: (1) Meets the requirements of paragraph (1)(iii) of the definition of eligible margin loan in Sec. 217.2, and (2) Is legal, valid, binding, and enforceable under applicable law in the relevant jurisdictions. (c) Qualifying cross-product master netting agreement. In order to recognize an agreement as a qualifying cross-product master netting agreement as defined in Sec. 217.101, a Board-regulated institution must obtain a written legal opinion verifying the validity and enforceability of the agreement under applicable law of the relevant jurisdictions if the counterparty fails to perform upon an event of default, including upon receivership, insolvency, liquidation, or similar proceeding. (d) Qualifying master netting agreement. In order to recognize an agreement as a qualifying master netting agreement as defined in Sec. 217.2, a Board-regulated institution must: (1) Conduct sufficient legal review to conclude with a well-founded basis (and maintain sufficient written documentation of that legal review) that: (i) The agreement meets the requirements of paragraph (2) of the definition of qualifying master netting agreement in Sec. 217.2; and (ii) In the event of a legal challenge (including one resulting from default or from receivership, insolvency, liquidation, or similar proceeding) the relevant court and administrative authorities would find the agreement to be legal, valid, binding, and enforceable under the law of the relevant jurisdictions; and (2) Establish and maintain written procedures to monitor possible changes in relevant law and to ensure that the agreement continues to satisfy the requirements of the definition of qualifying master netting agreement in Sec. 217.2. (e) Repo-style transaction. In order to recognize an exposure as a repo-style transaction as defined in Sec. 217.2, a Board-regulated institution must conduct sufficient legal review to conclude with a well-founded basis (and maintain sufficient written documentation of that legal review) that the agreement underlying the exposure: (1) Meets the requirements of paragraph (3) of the definition of repo-style transaction in Sec. 217.2, and (2) Is legal, valid, binding, and enforceable under applicable law in the relevant jurisdictions. (f) Failure of a QCCP to satisfy the rule's requirements. If a Board-regulated institution determines that a CCP ceases to be a QCCP due to the failure of the CCP to satisfy one or more of the requirements set forth in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP in Sec. 217.2, the Board-regulated institution may continue to treat the CCP as a QCCP for up to three months following the determination. If the CCP fails to remedy the relevant deficiency within three months after the initial determination, or the CCP fails to satisfy the requirements set forth in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP continuously for a three-month period after remedying the relevant deficiency, a Board-regulated institution may not treat the CCP as a QCCP for the purposes of this part until after the [[Page 438]] Board-regulated institution has determined that the CCP has satisfied the requirements in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP for three continuous months. Sec. Sec. 217.4-217.9 [Reserved] Subpart B_Capital Ratio Requirements and Buffers Sec. 217.10 Minimum capital requirements. (a) Minimum capital requirements. (1) A Board-regulated institution must maintain the following minimum capital ratios: (i) A common equity tier 1 capital ratio of 4.5 percent. (ii) A tier 1 capital ratio of 6 percent. (iii) A total capital ratio of 8 percent. (iv) A leverage ratio of 4 percent. (v) For advanced approaches Board-regulated institutions or, for Category III Board-regulated institutions, a supplementary leverage ratio of 3 percent. (2) A qualifying community banking organization (as defined in Sec. 217.12), that is subject to the community bank leverage ratio framework (as defined Sec. 217.12), is considered to have met the minimum capital requirements in this paragraph (a) of this section. (b) Standardized capital ratio calculations. Other than as provided in paragraph (c) of this section: (1) Common equity tier 1 capital ratio. A Board-regulated institution's common equity tier 1 capital ratio is the ratio of the Board-regulated institution's common equity tier 1 capital to standardized total risk-weighted assets; (2) Tier 1 capital ratio. A Board-regulated institution's tier 1 capital ratio is the ratio of the Board-regulated institution's tier 1 capital to standardized total risk-weighted assets; (3) Total capital ratio. A Board-regulated institution's total capital ratio is the ratio of the Board-regulated institution's total capital to standardized total risk-weighted assets; and (4) Leverage ratio. A Board-regulated institution's leverage ratio is the ratio of the Board-regulated institution's tier 1 capital to the Board-regulated institution's average total consolidated assets as reported on the Board-regulated institution's Call Report, for a state member bank, or the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C), for a bank holding company or savings and loan holding company, as applicable minus amounts deducted from tier 1 capital under Sec. 217.22(a), (c) and (d). (c) Supplementary leverage ratio. (1) A Category III Board-regulated institution or advanced approaches Board-regulated institution must determine its supplementary leverage ratio in accordance with this paragraph, beginning with the calendar quarter immediately following the quarter in which the Board-regulated institution is identified as a Category III Board-regulated institution. An advanced approaches Board- regulated institution's or a Category III Board-regulated institution's supplementary leverage ratio is the ratio of its tier 1 capital to total leverage exposure, the latter of which is calculated as the sum of: (i) The mean of the on-balance sheet assets calculated as of each day of the reporting quarter; and (ii) The mean of the off-balance sheet exposures calculated as of the last day of each of the most recent three months, minus the applicable deductions under Sec. 217.22(a), (c), and (d). (2) For purposes of this part, total leverage exposure means the sum of the items described in paragraphs (c)(2)(i) through (viii) of this section, as adjusted pursuant to paragraph (c)(2)(ix) of this section for a clearing member Board-regulated institution and paragraph (c)(2)(x) of this section for a custodial banking organization: (i) The balance sheet carrying value of all of the Board-regulated institution's on-balance sheet assets, plus the value of securities sold under a repurchase transaction or a securities lending transaction that qualifies for sales treatment under GAAP, less amounts deducted from tier 1 capital under Sec. 217.22(a), (c), and (d), and less the value of securities received in security-for-security repo-style transactions, where the Board-regulated institution acts as a securities lender and includes the securities received in its on-balance sheet assets but has not sold or [[Page 439]] re-hypothecated the securities received, and, for a Board-regulated institution that uses the standardized approach for counterparty credit risk under Sec. 217.132(c) for its standardized risk-weighted assets, less the fair value of any derivative contracts; (ii)(A) For a Board-regulated institution that uses the current exposure methodology under Sec. 217.34(b) for its standardized risk- weighted assets, the potential future credit exposure (PFE) for each derivative contract or each single-product netting set of derivative contracts (including a cleared transaction except as provided in paragraph (c)(2)(ix) of this section and, at the discretion of the Board-regulated institution, excluding a forward agreement treated as a derivative contract that is part of a repurchase or reverse repurchase or a securities borrowing or lending transaction that qualifies for sales treatment under GAAP), to which the Board-regulated institution is a counterparty as determined under Sec. 217.34, but without regard to Sec. 217.34(c), provided that: (1) A Board-regulated institution may choose to exclude the PFE of all credit derivatives or other similar instruments through which it provides credit protection when calculating the PFE under Sec. 217.34, but without regard to Sec. 217.34(c), provided that it does not adjust the net-to-gross ratio (NGR); and (2) A Board-regulated institution that chooses to exclude the PFE of credit derivatives or other similar instruments through which it provides credit protection pursuant to paragraph (c)(2)(ii)(A) of this section must do so consistently over time for the calculation of the PFE for all such instruments; or (B)(1) For a Board-regulated institution that uses the standardized approach for counterparty credit risk under section Sec. 217.132(c) for its standardized risk-weighted assets, the PFE for each netting set to which the Board-regulated institution is a counterparty (including cleared transactions except as provided in paragraph (c)(2)(ix) of this section and, at the discretion of the Board-regulated institution, excluding a forward agreement treated as a derivative contract that is part of a repurchase or reverse repurchase or a securities borrowing or lending transaction that qualifies for sales treatment under GAAP), as determined under Sec. 217.132(c)(7), in which the term C in Sec. 217.132(c)(7)(i) equals zero, and, for any counterparty that is not a commercial end-user, multiplied by 1.4. For purposes of this paragraph (c)(2)(ii)(B)(1), a Board-regulated institution may set the value of the term C in Sec. 217.132(c)(7)(i) equal to the amount of collateral posted by a clearing member client of the Board-regulated institution in connection with the client-facing derivative transactions within the netting set; and (2) A Board-regulated institution may choose to exclude the PFE of all credit derivatives or other similar instruments through which it provides credit protection when calculating the PFE under Sec. 217.132(c), provided that it does so consistently over time for the calculation of the PFE for all such instruments; (iii)(A)(1) For a Board-regulated institution that uses the current exposure methodology under Sec. 217.34(b) for its standardized risk- weighted assets, the amount of cash collateral that is received from a counterparty to a derivative contract and that has offset the mark-to- fair value of the derivative asset, or cash collateral that is posted to a counterparty to a derivative contract and that has reduced the Board- regulated institution's on-balance sheet assets, unless such cash collateral is all or part of variation margin that satisfies the conditions in paragraphs (c)(2)(iii)(C) through (G) of this section; and (2) The variation margin is used to reduce the current credit exposure of the derivative contract, calculated as described in Sec. 217.34(b), and not the PFE; and (3) For the purpose of the calculation of the NGR described in Sec. 217.34(b)(2)(ii)(B), variation margin described in paragraph (c)(2)(iii)(A)(2) of this section may not reduce the net current credit exposure or the gross current credit exposure; or (B)(1) For a Board-regulated institution that uses the standardized approach for counterparty credit risk under Sec. 217.132(c) for its standardized [[Page 440]] risk-weighted assets, the replacement cost of each derivative contract or single product netting set of derivative contracts to which the Board-regulated institution is a counterparty, calculated according to the following formula, and, for any counterparty that is not a commercial end-user, multiplied by 1.4: Replacement Cost = max{V-CVMr + CVMp;0{time} Where: V equals the fair value for each derivative contract or each single- product netting set of derivative contracts (including a cleared transaction except as provided in paragraph (c)(2)(ix) of this section and, at the discretion of the Board-regulated institution, excluding a forward agreement treated as a derivative contract that is part of a repurchase or reverse repurchase or a securities borrowing or lending transaction that qualifies for sales treatment under GAAP); CVMr equals the amount of cash collateral received from a counterparty to a derivative contract and that satisfies the conditions in paragraphs (c)(2)(iii)(C) through (G) of this section, or, in the case of a client-facing derivative transaction, the amount of collateral received from the clearing member client; and CVMp equals the amount of cash collateral that is posted to a counterparty to a derivative contract and that has not offset the fair value of the derivative contract and that satisfies the conditions in paragraphs (c)(2)(iii)(C) through (G) of this section, or, in the case of a client-facing derivative transaction, the amount of collateral posted to the clearing member client; (2) Notwithstanding paragraph (c)(2)(iii)(B)(1) of this section, where multiple netting sets are subject to a single variation margin agreement, a Board-regulated institution must apply the formula for replacement cost provided in Sec. 217.132(c)(10)(i), in which the term CMA may only include cash collateral that satisfies the conditions in paragraphs (c)(2)(iii)(C) through (G) of this section; and (3) For purposes of paragraph (c)(2)(iii)(B)(1), a Board-regulated institution must treat a derivative contract that references an index as if it were multiple derivative contracts each referencing one component of the index if the Board-regulated institution elected to treat the derivative contract as multiple derivative contracts under Sec. 217.132(c)(5)(vi); (C) For derivative contracts that are not cleared through a QCCP, the cash collateral received by the recipient counterparty is not segregated (by law, regulation, or an agreement with the counterparty); (D) Variation margin is calculated and transferred on a daily basis based on the mark-to-fair value of the derivative contract; (E) The variation margin transferred under the derivative contract or the governing rules of the CCP or QCCP for a cleared transaction is the full amount that is necessary to fully extinguish the net current credit exposure to the counterparty of the derivative contracts, subject to the threshold and minimum transfer amounts applicable to the counterparty under the terms of the derivative contract or the governing rules for a cleared transaction; (F) The variation margin is in the form of cash in the same currency as the currency of settlement set forth in the derivative contract, provided that for the purposes of this paragraph (c)(2)(iii)(F), currency of settlement means any currency for settlement specified in the governing qualifying master netting agreement and the credit support annex to the qualifying master netting agreement, or in the governing rules for a cleared transaction; and (G) The derivative contract and the variation margin are governed by a qualifying master netting agreement between the legal entities that are the counterparties to the derivative contract or by the governing rules for a cleared transaction, and the qualifying master netting agreement or the governing rules for a cleared transaction must explicitly stipulate that the counterparties agree to settle any payment obligations on a net basis, taking into account any variation margin received or provided under the contract if a credit event involving either counterparty occurs; (iv) The effective notional principal amount (that is, the apparent or stated notional principal amount multiplied by any multiplier in the derivative contract) of a credit derivative, or other similar instrument, through which the Board-regulated institution [[Page 441]] provides credit protection, provided that: (A) The Board-regulated institution may reduce the effective notional principal amount of the credit derivative by the amount of any reduction in the mark-to-fair value of the credit derivative if the reduction is recognized in common equity tier 1 capital; (B) The Board-regulated institution may reduce the effective notional principal amount of the credit derivative by the effective notional principal amount of a purchased credit derivative or other similar instrument, provided that the remaining maturity of the purchased credit derivative is equal to or greater than the remaining maturity of the credit derivative through which the Board-regulated institution provides credit protection and that: (1) With respect to a credit derivative that references a single exposure, the reference exposure of the purchased credit derivative is to the same legal entity and ranks pari passu with, or is junior to, the reference exposure of the credit derivative through which the Board- regulated institution provides credit protection; or (2) With respect to a credit derivative that references multiple exposures, the reference exposures of the purchased credit derivative are to the same legal entities and rank pari passu with the reference exposures of the credit derivative through which the Board-regulated institution provides credit protection, and the level of seniority of the purchased credit derivative ranks pari passu to the level of seniority of the credit derivative through which the Board-regulated institution provides credit protection; (3) Where a Board-regulated institution has reduced the effective notional amount of a credit derivative through which the Board-regulated institution provides credit protection in accordance with paragraph (c)(2)(iv)(A) of this section, the Board-regulated institution must also reduce the effective notional principal amount of a purchased credit derivative used to offset the credit derivative through which the Board- regulated institution provides credit protection, by the amount of any increase in the mark-to-fair value of the purchased credit derivative that is recognized in common equity tier 1 capital; and (4) Where the Board-regulated institution purchases credit protection through a total return swap and records the net payments received on a credit derivative through which the Board-regulated institution provides credit protection in net income, but does not record offsetting deterioration in the mark-to-fair value of the credit derivative through which the Board-regulated institution provides credit protection in net income (either through reductions in fair value or by additions to reserves), the Board-regulated institution may not use the purchased credit protection to offset the effective notional principal amount of the related credit derivative through which the Board- regulated institution provides credit protection; (v) Where a Board-regulated institution acting as a principal has more than one repo-style transaction with the same counterparty and has offset the gross value of receivables due from a counterparty under reverse repurchase transactions by the gross value of payables under repurchase transactions due to the same counterparty, the gross value of receivables associated with the repo-style transactions less any on- balance sheet receivables amount associated with these repo-style transactions included under paragraph (c)(2)(i) of this section, unless the following criteria are met: (A) The offsetting transactions have the same explicit final settlement date under their governing agreements; (B) The right to offset the amount owed to the counterparty with the amount owed by the counterparty is legally enforceable in the normal course of business and in the event of receivership, insolvency, liquidation, or similar proceeding; and (C) Under the governing agreements, the counterparties intend to settle net, settle simultaneously, or settle according to a process that is the functional equivalent of net settlement, (that is, the cash flows of the transactions are equivalent, in effect, to a single net amount on the settlement date), where both transactions are settled through the same settlement system, the settlement arrangements are supported by [[Page 442]] cash or intraday credit facilities intended to ensure that settlement of both transactions will occur by the end of the business day, and the settlement of the underlying securities does not interfere with the net cash settlement; (vi) The counterparty credit risk of a repo-style transaction, including where the Board-regulated institution acts as an agent for a repo-style transaction and indemnifies the customer with respect to the performance of the customer's counterparty in an amount limited to the difference between the fair value of the security or cash its customer has lent and the fair value of the collateral the borrower has provided, calculated as follows: (A) If the transaction is not subject to a qualifying master netting agreement, the counterparty credit risk (E*) for transactions with a counterparty must be calculated on a transaction by transaction basis, such that each transaction i is treated as its own netting set, in accordance with the following formula, where Ei is the fair value of the instruments, gold, or cash that the Board-regulated institution has lent, sold subject to repurchase, or provided as collateral to the counterparty, and Ci is the fair value of the instruments, gold, or cash that the Board-regulated institution has borrowed, purchased subject to resale, or received as collateral from the counterparty: Ei* = max {0, [Ei - Ci]{time} ; and (B) If the transaction is subject to a qualifying master netting agreement, the counterparty credit risk (E*) must be calculated as the greater of zero and the total fair value of the instruments, gold, or cash that the Board-regulated institution has lent, sold subject to repurchase or provided as collateral to a counterparty for all transactions included in the qualifying master netting agreement ([Sigma]Ei), less the total fair value of the instruments, gold, or cash that the Board-regulated institution borrowed, purchased subject to resale or received as collateral from the counterparty for those transactions ([Sigma]Ci), in accordance with the following formula: E* = max {0, [[Sigma]Ei - [Sigma]Ci]{time} (vii) If a Board-regulated institution acting as an agent for a repo-style transaction provides a guarantee to a customer of the security or cash its customer has lent or borrowed with respect to the performance of the customer's counterparty and the guarantee is not limited to the difference between the fair value of the security or cash its customer has lent and the fair value of the collateral the borrower has provided, the amount of the guarantee that is greater than the difference between the fair value of the security or cash its customer has lent and the value of the collateral the borrower has provided; (viii) The credit equivalent amount of all off-balance sheet exposures of the Board-regulated institution, excluding repo-style transactions, repurchase or reverse repurchase or securities borrowing or lending transactions that qualify for sales treatment under GAAP, and derivative transactions, determined using the applicable credit conversion factor under Sec. 217.33(b), provided, however, that the minimum credit conversion factor that may be assigned to an off-balance sheet exposure under this paragraph is 10 percent; and (ix) For a Board-regulated institution that is a clearing member: (A) A clearing member Board-regulated institution that guarantees the performance of a clearing member client with respect to a cleared transaction must treat its exposure to the clearing member client as a derivative contract for purposes of determining its total leverage exposure; (B) A clearing member Board-regulated institution that guarantees the performance of a CCP with respect to a transaction cleared on behalf of a clearing member client must treat its exposure to the CCP as a derivative contract for purposes of determining its total leverage exposure; (C) A clearing member Board-regulated institution that does not guarantee the performance of a CCP with respect to a transaction cleared on behalf of a clearing member client may exclude its exposure to the CCP for purposes of determining its total leverage exposure; [[Page 443]] (D) A Board-regulated institution that is a clearing member may exclude from its total leverage exposure the effective notional principal amount of credit protection sold through a credit derivative contract, or other similar instrument, that it clears on behalf of a clearing member client through a CCP as calculated in accordance with paragraph (c)(2)(iv) of this section; and (E) Notwithstanding paragraphs (c)(2)(ix)(A) through (C) of this section, a Board-regulated institution may exclude from its total leverage exposure a clearing member's exposure to a clearing member client for a derivative contract, if the clearing member client and the clearing member are affiliates and consolidated for financial reporting purposes on the Board-regulated institution's balance sheet. (x) A custodial banking organization shall exclude from its total leverage exposure the lesser of: (A) The amount of funds that the custodial banking organization has on deposit at a qualifying central bank; and (B) The amount of funds in deposit accounts at the custodial banking organization that are linked to fiduciary or custodial and safekeeping accounts at the custodial banking organization. For purposes of this paragraph (c)(2)(x), a deposit account is linked to a fiduciary or custodial and safekeeping account if the deposit account is provided to a client that maintains a fiduciary or custodial and safekeeping account with the custodial banking organization, and the deposit account is used to facilitate the administration of the fiduciary or custodial and safekeeping account. (d) Advanced approaches capital ratio calculations. An advanced approaches Board-regulated institution that has completed the parallel run process and received notification from the Board pursuant to Sec. 217.121(d) must determine its regulatory capital ratios as described in paragraphs (d)(1) through (3) of this section. (1) Common equity tier 1 capital ratio. The Board-regulated institution's common equity tier 1 capital ratio is the lower of: (i) The ratio of the Board-regulated institution's common equity tier 1 capital to standardized total risk-weighted assets; and (ii) The ratio of the Board-regulated institution's common equity tier 1 capital to advanced approaches total risk-weighted assets. (2) Tier 1 capital ratio. The Board-regulated institution's tier 1 capital ratio is the lower of: (i) The ratio of the Board-regulated institution's tier 1 capital to standardized total risk-weighted assets; and (ii) The ratio of the Board-regulated institution's tier 1 capital to advanced approaches total risk-weighted assets. (3) Total capital ratio. The Board-regulated institution's total capital ratio is the lower of: (i) The ratio of the Board-regulated institution's total capital to standardized total risk-weighted assets; and (ii) The ratio of the Board-regulated institution's advanced- approaches-adjusted total capital to advanced approaches total risk- weighted assets. A Board-regulated institution's advanced-approaches- adjusted total capital is the Board-regulated institution's total capital after being adjusted as follows: (A) An advanced approaches Board-regulated institution must deduct from its total capital any allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, included in its tier 2 capital in accordance with Sec. 217.20(d)(3); and (B) An advanced approaches Board-regulated institution must add to its total capital any eligible credit reserves that exceed the Board- regulated institution's total expected credit losses to the extent that the excess reserve amount does not exceed 0.6 percent of the Board- regulated institution's credit risk-weighted assets. (e) Capital adequacy. (1) Notwithstanding the minimum requirements in this part, a Board-regulated institution must maintain capital commensurate with the level and nature of all risks to which the Board- regulated institution is exposed. The supervisory evaluation of the Board-regulated institution's capital adequacy is based on an individual assessment of numerous factors, including the character and condition [[Page 444]] of the institution's assets and its existing and prospective liabilities and other corporate responsibilities. (2) A Board-regulated institution must have a process for assessing its overall capital adequacy in relation to its risk profile and a comprehensive strategy for maintaining an appropriate level of capital. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62286, Oct. 11, 2013; 79 FR 57744, Sept. 26, 2014; 80 FR 41419, July 15, 2015; 84 FR 4242, Feb. 14, 2019; 84 FR 35259, July 22, 2019; 84 FR 59271, Nov. 1, 2019; 84 FR 61797, Nov. 13, 2019; 85 FR 4416, Jan. 24, 2020; 85 FR 4578, Jan. 27, 2020; 85 FR 57961, Sept. 17, 2020; 86 FR 732, Jan. 6, 2021] Sec. 217.11 Capital conservation buffer, countercyclical capital buffer amount, and GSIB surcharge. (a) Capital conservation buffer--(1) Composition of the capital conservation buffer. The capital conservation buffer is composed solely of common equity tier 1 capital. (2) Definitions. For purposes of this section, the following definitions apply: (i) Eligible retained income. The eligible retained income of a Board-regulated institution is the greater of: (A) The Board-regulated institution's net income, calculated in accordance with the instructions to the FR Y-9C or Call Report, as applicable, for the four calendar quarters preceding the current calendar quarter, net of any distributions and associated tax effects not already reflected in net income; and (B) The average of the Board-regulated institution's net income, calculated in accordance with the instructions to the FR Y-9C or Call Report, as applicable, for the four calendar quarters preceding the current calendar quarter. (ii) Maximum payout amount. A Board-regulated institution's maximum payout amount for the current calendar quarter is equal to the Board- regulated institution's eligible retained income, multiplied by its maximum payout ratio. (iii) Maximum payout ratio. The maximum payout ratio is the percentage of eligible retained income that a Board-regulated institution can pay out in the form of distributions and discretionary bonus payments during the current calendar quarter. For a Board- regulated institution that is not subject to 12 CFR 225.8 or 238.170, the maximum payout ratio is determined by the Board-regulated institution's capital conservation buffer, calculated as of the last day of the previous calendar quarter, as set forth in Table 1 to paragraph (a)(4)(iv) of this section. For a Board-regulated institution that is subject to 12 CFR 225.8 or 238.170, the maximum payout ratio is determined under paragraph (c)(1)(ii) of this section. (iv) Private sector credit exposure. Private sector credit exposure means an exposure to a company or an individual that is not an exposure to a sovereign, the Bank for International Settlements, the European Central Bank, the European Commission, the European Stability Mechanism, the European Financial Stability Facility, the International Monetary Fund, a MDB, a PSE, or a GSE. (v) Leverage buffer requirement. A bank holding company's leverage buffer requirement is 2.0 percent. (vi) Stress capital buffer requirement. (A) The stress capital buffer requirement for a Board-regulated institution subject to 12 CFR 225.8 or 238.170 is the stress capital buffer requirement determined under 12 CFR 225.8 or 238.170 except as provided in paragraph (a)(2)(vi)(B) of this section. (B) If a Board-regulated institution subject to 12 CFR 225.8 or 238.170 has not yet received a stress capital buffer requirement, its stress capital buffer requirement for purposes of this part is 2.5 percent. (3) Calculation of capital conservation buffer. (i) A Board- regulated institution that is not subject to 12 CFR 225.8 or 238.170 has a capital conservation buffer equal to the lowest of the following ratios, calculated as of the last day of the previous calendar quarter: (A) The Board-regulated institution's common equity tier 1 capital ratio minus the Board-regulated institution's minimum common equity tier 1 capital ratio requirement under Sec. 217.10; (B) The Board-regulated institution's tier 1 capital ratio minus the Board-regulated institution's minimum tier 1 [[Page 445]] capital ratio requirement under Sec. 217.10; and (C) The Board-regulated institution's total capital ratio minus the Board-regulated institution's minimum total capital ratio requirement under Sec. 217.10; or (ii) Notwithstanding paragraphs (a)(3)(i)(A) through (C) of this section, if a Board-regulated institution's common equity tier 1, tier 1 or total capital ratio is less than or equal to the Board-regulated institution's minimum common equity tier 1, tier 1 or total capital ratio requirement under Sec. 217.10, respectively, the Board-regulated institution's capital conservation buffer is zero. (4) Limits on distributions and discretionary bonus payments. (i) A Board-regulated institution that is not subject 12 CFR 225.8 or 238.170 shall not make distributions or discretionary bonus payments or create an obligation to make such distributions or payments during the current calendar quarter that, in the aggregate, exceed its maximum payout amount. (ii) A Board-regulated institution that is not subject 12 CFR 225.8 or 238.170 and that has a capital conservation buffer that is greater than 2.5 percent plus 100 percent of its applicable countercyclical capital buffer amount in accordance with paragraph (b) of this section is not subject to a maximum payout amount under paragraph (a)(2)(ii) of this section. (iii) Except as provided in paragraph (a)(4)(iv) of this section, a Board-regulated institution that is not subject to 12 CFR 225.8 or 238.170 may not make distributions or discretionary bonus payments during the current calendar quarter if the Board-regulated institution's: (A) Eligible retained income is negative; and (B) Capital conservation buffer was less than 2.5 percent as of the end of the previous calendar quarter. (iv) Prior approval--notwithstanding the limitations in paragraphs (a)(4)(i) through (iii) of this section, the Board may permit a Board- regulated institution that is not subject to 12 CFR 225.8 or 238.170 to make a distribution or discretionary bonus payment upon a request of the Board-regulated institution, if the Board determines that the distribution or discretionary bonus payment would not be contrary to the purposes of this section, or to the safety and soundness of the Board- regulated institution. In making such a determination, the Board will consider the nature and extent of the request and the particular circumstances giving rise to the request. Table 1 to Sec. 217.11(a)(4)(iv)--Calculation of Maximum Payout Amount ------------------------------------------------------------------------ Capital conservation buffer Maximum payout ratio ------------------------------------------------------------------------ Greater than 2.5 percent plus 100 percent of the No payout ratio Board-regulated institution's applicable limitation applies. countercyclical capital buffer amount. Less than or equal to 2.5 percent plus 100 60 percent. percent of the Board-regulated institution's applicable countercyclical capital buffer amount, and greater than 1.875 percent plus 75 percent of the Board-regulated institution's applicable countercyclical capital buffer amount. Less than or equal to 1.875 percent plus 75 40 percent. percent of the Board-regulated institution's applicable countercyclical capital buffer amount, and greater than 1.25 percent plus 50 percent of the Board-regulated institution's applicable countercyclical capital buffer amount. Less than or equal to 1.25 percent plus 50 20 percent. percent of the Board-regulated institution's applicable countercyclical capital buffer amount and greater than 0.625 percent plus 25 percent of the Board-regulated institution's applicable countercyclical capital buffer amount. Less than or equal to 0.625 percent plus 25 0 percent. percent of the Board-regulated institution's applicable countercyclical capital buffer amount. ------------------------------------------------------------------------ (v) Other limitations on distributions. Additional limitations on distributions may apply under 12 CFR 225.4 and 263.202 to a Board- regulated institution that is not subject to 12 CFR 225.8 or 238.170. (b) Countercyclical capital buffer amount--(1) General. An advanced approaches Board-regulated institution or a Category III Board-regulated institution must calculate a countercyclical capital buffer amount in accordance with this paragraph (b) for [[Page 446]] purposes of determining its maximum payout ratio under Table 1 to Sec. 217.11(a)(4)(iv) and, if applicable, Table 2 to Sec. 217.11(c)(4)(iii). (i) Extension of capital conservation buffer. The countercyclical capital buffer amount is an extension of the capital conservation buffer as described in paragraph (a) or (c) of this section, as applicable. (ii) Amount. An advanced approaches Board-regulated institution or a Category III Board-regulated institution has a countercyclical capital buffer amount determined by calculating the weighted average of the countercyclical capital buffer amounts established for the national jurisdictions where the Board-regulated institution's private sector credit exposures are located, as specified in paragraphs (b)(2) and (3) of this section. (iii) Weighting. The weight assigned to a jurisdiction's countercyclical capital buffer amount is calculated by dividing the total risk-weighted assets for the Board-regulated institution's private sector credit exposures located in the jurisdiction by the total risk- weighted assets for all of the Board-regulated institution's private sector credit exposures. The methodology a Board-regulated institution uses for determining risk-weighted assets for purposes of this paragraph (b) must be the methodology that determines its risk-based capital ratios under Sec. 217.10. Notwithstanding the previous sentence, the risk-weighted asset amount for a private sector credit exposure that is a covered position under subpart F of this part is its specific risk add-on as determined under Sec. 217.210 multiplied by 12.5. (iv) Location. (A) Except as provided in paragraphs (b)(1)(iv)(B) and (C) of this section, the location of a private sector credit exposure is the national jurisdiction where the borrower is located (that is, where it is incorporated, chartered, or similarly established or, if the borrower is an individual, where the borrower resides). (B) If, in accordance with subpart D or E of this part, the Board- regulated institution has assigned to a private sector credit exposure a risk weight associated with a protection provider on a guarantee or credit derivative, the location of the exposure is the national jurisdiction where the protection provider is located. (C) The location of a securitization exposure is the location of the underlying exposures, or, if the underlying exposures are located in more than one national jurisdiction, the national jurisdiction where the underlying exposures with the largest aggregate unpaid principal balance are located. For purposes of this paragraph (b), the location of an underlying exposure shall be the location of the borrower, determined consistent with paragraph (b)(1)(iv)(A) of this section. (2) Countercyclical capital buffer amount for credit exposures in the United States--(i) Initial countercyclical capital buffer amount with respect to credit exposures in the United States. The initial countercyclical capital buffer amount in the United States is zero. (ii) Adjustment of the countercyclical capital buffer amount. The Board will adjust the countercyclical capital buffer amount for credit exposures in the United States in accordance with applicable law.\1\ --------------------------------------------------------------------------- \1\ The Board expects that any adjustment will be based on a determination made jointly by the Board, OCC, and FDIC. --------------------------------------------------------------------------- (iii) Range of countercyclical capital buffer amount. The Board will adjust the countercyclical capital buffer amount for credit exposures in the United States between zero percent and 2.5 percent of risk-weighted assets. (iv) Adjustment determination. The Board will base its decision to adjust the countercyclical capital buffer amount under this section on a range of macroeconomic, financial, and supervisory information indicating an increase in systemic risk including, but not limited to, the ratio of credit to gross domestic product, a variety of asset prices, other factors indicative of relative credit and liquidity expansion or contraction, funding spreads, credit condition surveys, indices based on credit default swap spreads, options implied volatility, and measures of systemic risk. (v) Effective date of adjusted countercyclical capital buffer amount--(A) Increase adjustment. A determination by the Board under paragraph (b)(2)(ii) of [[Page 447]] this section to increase the countercyclical capital buffer amount will be effective 12 months from the date of announcement, unless the Board establishes an earlier effective date and includes a statement articulating the reasons for the earlier effective date. (B) Decrease adjustment. A determination by the Board to decrease the established countercyclical capital buffer amount under paragraph (b)(2)(ii) of this section will be effective on the day following announcement of the final determination or the earliest date permissible under applicable law or regulation, whichever is later. (vi) Twelve month sunset. The countercyclical capital buffer amount will return to zero percent 12 months after the effective date that the adjusted countercyclical capital buffer amount is announced, unless the Board announces a decision to maintain the adjusted countercyclical capital buffer amount or adjust it again before the expiration of the 12-month period. (3) Countercyclical capital buffer amount for foreign jurisdictions. The Board will adjust the countercyclical capital buffer amount for private sector credit exposures to reflect decisions made by foreign jurisdictions consistent with due process requirements described in paragraph (b)(2) of this section. (c) Calculation of buffers for Board-regulated institutions subject to 12 CFR 225.8 or 238.170--(1) Limits on distributions and discretionary bonus payments. (i) A Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 shall not make distributions or discretionary bonus payments or create an obligation to make such distributions or payments during the current calendar quarter that, in the aggregate, exceed its maximum payout amount. (ii) Maximum payout ratio. The maximum payout ratio of a Board- regulated institution that is subject to 12 CFR 225.8 or 238.170 is the lowest of the payout ratios determined by its standardized approach capital conservation buffer; if applicable, advanced approaches capital conservation buffer; and, if applicable, leverage buffer; as set forth in table 2 to Sec. 217.11(c)(4)(iii). (iii) Capital conservation buffer requirements. A Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 has: (A) A standardized approach capital conservation buffer requirement equal to its stress capital buffer requirement plus its applicable countercyclical capital buffer amount in accordance with paragraph (b) of this section plus its applicable GSIB surcharge in accordance with paragraph (d) of this section; and (B) If the Board-regulated institution calculates risk-weighted assets under subpart E of this part, an advanced approaches capital conservation buffer requirement equal to 2.5 percent plus the Board- regulated institution's countercyclical capital buffer amount in accordance with paragraph (b) of this section plus its applicable GSIB surcharge in accordance with paragraph (d) of this section. (iv) No maximum payout amount limitation. A Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 is not subject to a maximum payout amount under paragraph (a)(2)(ii) of this section if it has: (A) A standardized approach capital conservation buffer, calculated under paragraph (c)(2) of this section, that is greater than its standardized approach capital conservation buffer requirement calculated under paragraph (c)(1)(iii)(A) of this section; (B) If applicable, an advanced approaches capital conservation buffer, calculated under paragraph (c)(3) of this section, that is greater than the Board-regulated institution's advanced approaches capital conservation buffer requirement calculated under paragraph (c)(1)(iii)(B) of this section; and (C) If applicable, a leverage buffer, calculated under paragraph (c)(4) of this section, that is greater than its leverage buffer requirement as calculated under paragraph (a)(2)(v) of this section. (v) Negative eligible retained income. Except as provided in paragraph (c)(1)(vi) of this section, a Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 may not make distributions or discretionary bonus payments during the current calendar quarter if, as of the end of the previous calendar quarter, the Board-regulated institution's: [[Page 448]] (A) Eligible retained income is negative; and (B)(1) Standardized approach capital conservation buffer was less than its stress capital buffer requirement; or (2) If applicable, advanced approaches capital conservation buffer was less than 2.5 percent; or (3) If applicable, leverage buffer was less than its leverage buffer requirement. (vi) Prior approval. Notwithstanding the limitations in paragraphs (c)(1)(i) through (v) of this section, the Board may permit a Board- regulated institution that is subject to 12 CFR 225.8 or 238.170 to make a distribution or discretionary bonus payment upon a request of the Board-regulated institution, if the Board determines that the distribution or discretionary bonus payment would not be contrary to the purposes of this section, or to the safety and soundness of the Board- regulated institution. In making such a determination, the Board will consider the nature and extent of the request and the particular circumstances giving rise to the request. (vii) Other limitations on distributions. Additional limitations on distributions may apply under 12 CFR 225.4, 225.8, 238.170, 252.63, 252.165, and 263.202 to a Board-regulated institution that is subject to 12 CFR 225.8 or 238.170. (2) Standardized approach capital conservation buffer. (i) The standardized approach capital conservation buffer for Board-regulated institutions subject to 12 CFR 225.8 or 238.170 is composed solely of common equity tier 1 capital. (ii) A Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 has a standardized approach capital conservation buffer that is equal to the lowest of the following ratios, calculated as of the last day of the previous calendar quarter: (A) The ratio calculated by the Board-regulated institution under Sec. 217.10(b)(1) or (c)(1)(i), as applicable, minus the Board- regulated institution's minimum common equity tier 1 capital ratio requirement under Sec. 217.10(a); (B) The ratio calculated by the Board-regulated institution under Sec. 217.10(b)(2) or (c)(2)(i), as applicable, minus the Board- regulated institution's minimum tier 1 capital ratio requirement under Sec. 217.10(a); and (C) The ratio calculated by the Board-regulated institution under Sec. 217.10(b)(3) or (c)(3)(i), as applicable, minus the Board- regulated institution's minimum total capital ratio requirement under Sec. 217.10(a). (iii) Notwithstanding paragraph (c)(2)(ii) of this section, if any of the ratios calculated by the Board-regulated institution under Sec. 217.10(b)(1), (2), or (3), or if applicable Sec. 217.10(c)(1)(i), (c)(2)(i), or (c)(3)(i) is less than or equal to the Board-regulated institution's minimum common equity tier 1 capital ratio, tier 1 capital ratio, or total capital ratio requirement under Sec. 217.10(a), respectively, the Board-regulated institution's capital conservation buffer is zero. (3) Advanced approaches capital conservation buffer. (i) The advanced approaches capital conservation buffer is composed solely of common equity tier 1 capital. (ii) A Board-regulated institution that calculates risk-weighted assets under subpart E has an advanced approaches capital conservation buffer that is equal to the lowest of the following ratios, calculated as of the last day of the previous calendar quarter: (A) The ratio calculated by the Board-regulated institution under Sec. 217.10(c)(1)(ii) minus the Board-regulated institution's minimum common equity tier 1 capital ratio requirement under Sec. 217.10(a); (B) The ratio calculated by the Board-regulated institution under Sec. 217.10(c)(2)(ii) minus the Board-regulated institution's minimum tier 1 capital ratio requirement under Sec. 217.10(a); and (C) The ratio calculated by the Board-regulated institution under Sec. 217.10(c)(3)(ii) minus the Board-regulated institution's minimum total capital ratio requirement under Sec. 217.10(a). (iii) Notwithstanding paragraph (c)(3)(ii) of this section, if any of the ratios calculated by the Board-regulated institution under Sec. 217.10(c)(1)(ii), (c)(2)(ii), or (c)(3)(ii) is less than or equal to the Board-regulated institution's minimum common equity tier 1 capital ratio, tier 1 capital ratio, or [[Page 449]] total capital ratio requirement under Sec. 217.10(a), respectively, the Board-regulated institution's advanced approaches capital conservation buffer is zero. (4) Leverage buffer. (i) The leverage buffer is composed solely of tier 1 capital. (ii) A global systemically important BHC has a leverage buffer that is equal to the global systemically important BHC's supplementary leverage ratio minus 3 percent, calculated as of the last day of the previous calendar quarter. (iii) Notwithstanding paragraph (c)(4)(ii) of this section, if the global systemically important BHC's supplementary leverage ratio is less than or equal to 3 percent, the global systemically important BHC's leverage buffer is zero. Table 2 to Sec. 217.11(c)(4)(iii)--Calculation of Maximum Payout Ratio ------------------------------------------------------------------------ Capital buffer \1\ Payout ratio ------------------------------------------------------------------------ Greater than the Board-regulated institution's No payout ratio buffer requirement \2\. limitation applies. Less than or equal to 100 percent of the Board- 60 percent. regulated institution's buffer requirement, and greater than 75 percent of the Board-regulated institution's buffer requirement. Less than or equal to 75 percent of the Board- 40 percent. regulated institution's buffer requirement, and greater than 50 percent of the bank holding company's buffer requirement. Less than or equal to 50 percent of the Board- 20 percent. regulated institution's buffer requirement, and greater than 25 percent of the Board-regulated institution's buffer requirement. Less than or equal to 25 percent of the Board- 0 percent. regulated institution's buffer requirement. ------------------------------------------------------------------------ \1\ A Board-regulated institution's ``capital buffer'' means each of, as applicable, its standardized approach capital conservation buffer, advanced approaches capital conservation buffer, and leverage buffer. \2\ A Board-regulated institution's ``buffer requirement'' means each of, as applicable, its standardized approach capital conservation buffer requirement, advanced approaches capital conservation buffer requirement, and leverage buffer requirement. (d) GSIB surcharge. A global systemically important BHC must use its GSIB surcharge calculated in accordance with subpart H of this part for purposes of determining its maximum payout ratio under Table 2 to Sec. 217.11(c)(4)(iii). [Reg. Q, 85 FR 15596, Mar. 18, 2020, as amended at 86 FR 3762, Jan. 15, 2021; 86 FR 7938, Feb. 3, 2021; 86 FR 9261, Feb. 12, 2021] Sec. 217.12 Community bank leverage ratio framework. (a) Community bank leverage ratio framework. (1) Notwithstanding any other provision in this part, a qualifying community banking organization that has made an election to use the community bank leverage ratio framework under paragraph (a)(3) of this section shall be considered to have met the minimum capital requirements under Sec. 217.10, the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1) of this chapter, and any other capital or leverage requirements to which the qualifying community banking organization is subject, if it has a leverage ratio greater than 9 percent. (2) For purposes of this section, a qualifying community banking organization means a Board-regulated institution that is not an advanced approaches Board-regulated institution and that satisfies all of the following criteria: (i) Has a leverage ratio of greater than 9 percent; (ii) Has total consolidated assets of less than $10 billion, calculated in accordance with the reporting instructions to the Call Report or to Form FR Y-9C, as applicable, as of the end of the most recent calendar quarter; (iii) Has off-balance sheet exposures of 25 percent or less of its total consolidated assets as of the end of the most recent calendar quarter, calculated as the sum of the notional amounts of the exposures listed in paragraphs (a)(2)(iii)(A) through (I) of this section, divided by total consolidated assets, each as of the end of the most recent calendar quarter: (A) The unused portion of commitments (except for unconditionally cancellable commitments); (B) Self-liquidating, trade-related contingent items that arise from the movement of goods; (C) Transaction-related contingent items, including performance bonds, [[Page 450]] bid bonds, warranties, and performance standby letters of credit; (D) Sold credit protection through guarantees and credit derivatives; (E) Credit-enhancing representations and warranties; (F) Securities lent and borrowed, calculated in accordance with the reporting instructions to the Call Report or to Form FR Y-9C, as applicable; (G) Financial standby letters of credit; (H) Forward agreements that are not derivative contracts; and (I) Off-balance sheet securitization exposures; and (iv) Has total trading assets and trading liabilities, calculated in accordance with the reporting instructions to the Call Report or to Form FR Y-9C, as applicable, of 5 percent or less of the Board-regulated institution's total consolidated assets, each as of the end of the most recent calendar quarter. (3)(i) A qualifying community banking organization may elect to use the community bank leverage ratio framework if it makes an opt-in election under this paragraph (a)(3). (ii) For purposes of this paragraph (a)(3), a qualifying community banking organization makes an election to use the community bank leverage ratio framework by completing the applicable reporting requirements of its Call Report or of its Form FR Y-9C, as applicable. (iii)(A) A qualifying community banking organization that has elected to use the community bank leverage ratio framework may opt out of the community bank leverage ratio framework by completing the applicable risk-based and leverage ratio reporting requirements necessary to demonstrate compliance with Sec. 217.10(a)(1) in its Call Report or its Form FR Y-9C, as applicable, or by otherwise providing the information to the Board. (B) A qualifying community banking organization that opts out of the community bank leverage ratio framework pursuant to paragraph (a)(3)(iii)(A) of this section must comply with Sec. 217.10(a)(1) immediately. (4) Temporary relief for 2020 and 2021. (i) Except as provided in paragraph (a)(4)(ii) of this section, from December 2, 2020, through December 31, 2021, for purposes of determining whether a Board-regulated institution satisfies the criterion in paragraph (a)(2)(ii) of this section, the total consolidated assets of a Board-regulated institution for purposes of paragraph (a)(2)(ii) of this section shall be determined based on the lesser of: (A) The total consolidated assets reported by the institution in the Call Report, FR Y-9C, or FR Y-9SP, as applicable, as of December 31, 2019; and (B) The total consolidated assets calculated in accordance with the reporting instructions to the Call Report or to Form FR Y-9C, as applicable, as of the end of the most recent calendar quarter. (ii) The relief provided under this paragraph (a)(4)(i) does not apply to a Board-regulated institution if the Board determines that permitting the Board-regulated institution to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the Board-regulated institution. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the Board-regulated institution since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the Board-regulated institution has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the Board-regulated institution. In making a determination pursuant to this paragraph (a)(4)(ii), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (b) Calculation of the leverage ratio. A qualifying community banking organization's leverage ratio is calculated in accordance with Sec. 217.10(b)(4), except that a qualifying community banking organization is not required to: (1) Make adjustments and deductions from tier 2 capital for purposes of Sec. 217.22(c); or [[Page 451]] (2) Calculate and deduct from tier 1 capital an amount resulting from insufficient tier 2 capital under Sec. 217.22(f). (c) Treatment when ceasing to meet the qualifying community banking organization requirements. (1) Except as provided in paragraphs (c)(5) and (6) of this section, if an Board-regulated institution ceases to meet the definition of a qualifying community banking organization, the Board-regulated institution has two reporting periods under its Call Report or Form FR Y-9C, as applicable (grace period) either to satisfy the requirements to be a qualifying community banking organization or to comply with Sec. 217.10(a)(1) and report the required capital measures under Sec. 217.10(a)(1) on its Call Report or its Form FR Y-9C, as applicable. (2) The grace period begins as of the end of the calendar quarter in which the Board-regulated institution ceases to satisfy the criteria to be a qualifying community banking organization provided in paragraph (a)(2) of this section. The grace period ends on the last day of the second consecutive calendar quarter following the beginning of the grace period. (3) During the grace period, the Board-regulated institution continues to be treated as a qualifying community banking organization for the purpose of this part and must continue calculating and reporting its leverage ratio under this section unless the Board-regulated institution has opted out of using the community bank leverage ratio framework under paragraph (a)(3) of this section. (4) During the grace period, the qualifying community banking organization continues to be considered to have met the minimum capital requirements under Sec. 217.10(a)(1), the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1)(i)(A) through (D) of this chapter, and any other capital or leverage requirements to which the qualifying community banking organization is subject, and must continue calculating and reporting its leverage ratio under this section. (5) Notwithstanding paragraphs (c)(1) through (4) of this section, a Board-regulated institution that no longer meets the definition of a qualifying community banking organization as a result of a merger or acquisition has no grace period and immediately ceases to be a qualifying community banking organization. Such a Board-regulated institution must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it ceases to be a qualifying community banking organization. (6) Notwithstanding paragraphs (c)(1) through (4) of this section, a Board-regulated institution that has a leverage ratio of 8 percent or less does not have a grace period and must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it reports a leverage ratio of 8 percent or less. [Reg. Q, 84 FR 61797, Nov. 13, 2019, as amended at 85 FR 77361, Dec. 2, 2020] Sec. Sec. 217.13-217.19 [Reserved] Subpart C_Definition of Capital Sec. 217.20 Capital components and eligibility criteria for regulatory capital instruments. (a) Regulatory capital components. A Board-regulated institution's regulatory capital components are: (1) Common equity tier 1 capital; (2) Additional tier 1 capital; and (3) Tier 2 capital. (b) Common equity tier 1 capital. Common equity tier 1 capital is the sum of the common equity tier 1 capital elements in this paragraph (b), minus regulatory adjustments and deductions in Sec. 217.22. The common equity tier 1 capital elements are: (1) Any common stock instruments (plus any related surplus) issued by the Board-regulated institution, net of treasury stock, and any capital instruments issued by mutual banking organizations, that meet all the following criteria: [[Page 452]] (i) The instrument is paid-in, issued directly by the Board- regulated institution, and represents the most subordinated claim in a receivership, insolvency, liquidation, or similar proceeding of the Board-regulated institution; (ii) The holder of the instrument is entitled to a claim on the residual assets of the Board-regulated institution that is proportional with the holder's share of the Board-regulated institution's issued capital after all senior claims have been satisfied in a receivership, insolvency, liquidation, or similar proceeding; (iii) The instrument has no maturity date, can only be redeemed via discretionary repurchases with the prior approval of the Board to the extent otherwise required by law or regulation, and does not contain any term or feature that creates an incentive to redeem; (iv) The Board-regulated institution did not create at issuance of the instrument through any action or communication an expectation that it will buy back, cancel, or redeem the instrument, and the instrument does not include any term or feature that might give rise to such an expectation; (v) Any cash dividend payments on the instrument are paid out of the Board-regulated institution's net income, retained earnings, or surplus related to common stock, and are not subject to a limit imposed by the contractual terms governing the instrument. State member banks are subject to other legal restrictions on reductions in capital resulting from cash dividends, including out of the capital surplus account, under 12 U.S.C. 324 and 12 CFR 208.5. (vi) The Board-regulated institution has full discretion at all times to refrain from paying any dividends and making any other distributions on the instrument without triggering an event of default, a requirement to make a payment-in-kind, or an imposition of any other restrictions on the Board-regulated institution; (vii) Dividend payments and any other distributions on the instrument may be paid only after all legal and contractual obligations of the Board-regulated institution have been satisfied, including payments due on more senior claims; (viii) The holders of the instrument bear losses as they occur equally, proportionately, and simultaneously with the holders of all other common stock instruments before any losses are borne by holders of claims on the Board-regulated institution with greater priority in a receivership, insolvency, liquidation, or similar proceeding; (ix) The paid-in amount is classified as equity under GAAP; (x) The Board-regulated institution, or an entity that the Board- regulated institution controls, did not purchase or directly or indirectly fund the purchase of the instrument; (xi) The instrument is not secured, not covered by a guarantee of the Board-regulated institution or of an affiliate of the Board- regulated institution, and is not subject to any other arrangement that legally or economically enhances the seniority of the instrument; (xii) The instrument has been issued in accordance with applicable laws and regulations; and (xiii) The instrument is reported on the Board-regulated institution's regulatory financial statements separately from other capital instruments. (2) Retained earnings. (3) Accumulated other comprehensive income (AOCI) as reported under GAAP.\11\ --------------------------------------------------------------------------- \11\ See Sec. 217.22 for specific adjustments related to AOCI. --------------------------------------------------------------------------- (4) Any common equity tier 1 minority interest, subject to the limitations in Sec. 217.21. (5) Notwithstanding the criteria for common stock instruments referenced above, a Board-regulated institution's common stock issued and held in trust for the benefit of its employees as part of an employee stock ownership plan does not violate any of the criteria in paragraph (b)(1)(iii), paragraph (b)(1)(iv) or paragraph (b)(1)(xi) of this section, provided that any repurchase of the stock is required solely by virtue of ERISA for an instrument of a Board-regulated institution that is not publicly-traded. In addition, an instrument issued by a Board-regulated institution [[Page 453]] to its employee stock ownership plan does not violate the criterion in paragraph (b)(1)(x) of this section. (c) Additional tier 1 capital. Additional tier 1 capital is the sum of additional tier 1 capital elements and any related surplus, minus the regulatory adjustments and deductions in Sec. 217.22. Additional tier 1 capital elements are: (1) Instruments (plus any related surplus) that meet the following criteria: (i) The instrument is issued and paid-in; (ii) The instrument is subordinated to depositors, general creditors, and subordinated debt holders of the Board-regulated institution in a receivership, insolvency, liquidation, or similar proceeding; (iii) The instrument is not secured, not covered by a guarantee of the Board-regulated institution or of an affiliate of the Board- regulated institution, and not subject to any other arrangement that legally or economically enhances the seniority of the instrument; (iv) The instrument has no maturity date and does not contain a dividend step-up or any other term or feature that creates an incentive to redeem; and (v) If callable by its terms, the instrument may be called by the Board-regulated institution only after a minimum of five years following issuance, except that the terms of the instrument may allow it to be called earlier than five years upon the occurrence of a regulatory event that precludes the instrument from being included in additional tier 1 capital, a tax event, or if the issuing entity is required to register as an investment company pursuant to the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.). In addition: (A) The Board-regulated institution must receive prior approval from the Board to exercise a call option on the instrument. (B) The Board-regulated institution does not create at issuance of the instrument, through any action or communication, an expectation that the call option will be exercised. (C) Prior to exercising the call option, or immediately thereafter, the Board-regulated institution must either: Replace the instrument to be called with an equal amount of instruments that meet the criteria under paragraph (b) of this section or this paragraph (c); \12\ or demonstrate to the satisfaction of the Board that following redemption, the Board-regulated institution will continue to hold capital commensurate with its risk. --------------------------------------------------------------------------- \12\ Replacement can be concurrent with redemption of existing additional tier 1 capital instruments. --------------------------------------------------------------------------- (vi) Redemption or repurchase of the instrument requires prior approval from the Board. (vii) The Board-regulated institution has full discretion at all times to cancel dividends or other distributions on the instrument without triggering an event of default, a requirement to make a payment- in-kind, or an imposition of other restrictions on the Board-regulated institution except in relation to any distributions to holders of common stock or instruments that are pari passu with the instrument. (viii) Any distributions on the instrument are paid out of the Board-regulated institution's net income, retained earnings, or surplus related to other additional tier 1 capital instruments. State member banks are subject to other legal restrictions on reductions in capital resulting from cash dividends, including out of the capital surplus account, under 12 U.S.C. 324 and 12 CFR 208.5. (ix) The instrument does not have a credit-sensitive feature, such as a dividend rate that is reset periodically based in whole or in part on the Board-regulated institution's credit quality, but may have a dividend rate that is adjusted periodically independent of the Board- regulated institution's credit quality, in relation to general market interest rates or similar adjustments. (x) The paid-in amount is classified as equity under GAAP. (xi) The Board-regulated institution, or an entity that the Board- regulated institution controls, did not purchase or directly or indirectly fund the purchase of the instrument. (xii) The instrument does not have any features that would limit or discourage additional issuance of capital by the Board-regulated institution, [[Page 454]] such as provisions that require the Board-regulated institution to compensate holders of the instrument if a new instrument is issued at a lower price during a specified time frame. (xiii) If the instrument is not issued directly by the Board- regulated institution or by a subsidiary of the Board-regulated institution that is an operating entity, the only asset of the issuing entity is its investment in the capital of the Board-regulated institution, and proceeds must be immediately available without limitation to the Board-regulated institution or to the Board-regulated institution's top-tier holding company in a form which meets or exceeds all of the other criteria for additional tier 1 capital instruments.\13\ --------------------------------------------------------------------------- \13\ De minimis assets related to the operation of the issuing entity can be disregarded for purposes of this criterion. --------------------------------------------------------------------------- (xiv) For an advanced approaches Board-regulated institution, the governing agreement, offering circular, or prospectus of an instrument issued after the date upon which the Board-regulated institution becomes subject to this part as set forth in Sec. 217.1(f) must disclose that the holders of the instrument may be fully subordinated to interests held by the U.S. government in the event that the Board-regulated institution enters into a receivership, insolvency, liquidation, or similar proceeding. (2) Tier 1 minority interest, subject to the limitations in Sec. 217.21, that is not included in the Board-regulated institution's common equity tier 1 capital. (3)(i) Any and all instruments that qualified as tier 1 capital under the Board's general risk-based capital rules under 12 CFR part 208, appendix A or 12 CFR part 225, appendix A, as then in effect, that were issued under the Small Business Jobs Act of 2010 \14\ or prior to October 4, 2010, under the Emergency Economic Stabilization Act of 2008.\15\ --------------------------------------------------------------------------- \14\ Public Law 111-240; 124 Stat. 2504 (2010). \15\ Public Law 110-343, 122 Stat. 3765 (2008). --------------------------------------------------------------------------- (ii) Any preferred stock instrument issued under the U.S. Department of the Treasury's Emergency Capital Investment Program pursuant to section 104A of the Community Development Banking and Financial Institutions Act of 1994, added by the Consolidated Appropriations Act, 2021.\16\ --------------------------------------------------------------------------- \16\ Public Law 116-260. --------------------------------------------------------------------------- (4) Notwithstanding the criteria for additional tier 1 capital instruments referenced above: (i) An instrument issued by a Board-regulated institution and held in trust for the benefit of its employees as part of an employee stock ownership plan does not violate any of the criteria in paragraph (c)(1)(iii) of this section, provided that any repurchase is required solely by virtue of ERISA for an instrument of a Board-regulated institution that is not publicly-traded. In addition, an instrument issued by a Board-regulated institution to its employee stock ownership plan does not violate the criteria in paragraph (c)(1)(v) or paragraph (c)(1)(xi) of this section; and (ii) An instrument with terms that provide that the instrument may be called earlier than five years upon the occurrence of a rating agency event does not violate the criterion in paragraph (c)(1)(v) of this section provided that the instrument was issued and included in a Board- regulated institution's tier 1 capital prior to January 1, 2014, and that such instrument satisfies all other criteria under this Sec. 217.20(c). (d) Tier 2 Capital. Tier 2 capital is the sum of tier 2 capital elements and any related surplus, minus regulatory adjustments and deductions in Sec. 217.22. Tier 2 capital elements are: (1) Instruments (plus related surplus) that meet the following criteria: (i) The instrument is issued and paid-in; (ii) The instrument is subordinated to depositors and general creditors of the Board-regulated institution; (iii) The instrument is not secured, not covered by a guarantee of the Board-regulated institution or of an affiliate of the Board- regulated institution, and not subject to any other arrangement that legally or economically enhances the seniority of the instrument in relation to more senior claims; (iv) The instrument has a minimum original maturity of at least five years. At the beginning of each of the last five years of the life of the instrument, [[Page 455]] the amount that is eligible to be included in tier 2 capital is reduced by 20 percent of the original amount of the instrument (net of redemptions) and is excluded from regulatory capital when the remaining maturity is less than one year. In addition, the instrument must not have any terms or features that require, or create significant incentives for, the Board-regulated institution to redeem the instrument prior to maturity; \16\ and --------------------------------------------------------------------------- \16\ An instrument that by its terms automatically converts into a tier 1 capital instrument prior to five years after issuance complies with the five-year maturity requirement of this criterion. --------------------------------------------------------------------------- (v) The instrument, by its terms, may be called by the Board- regulated institution only after a minimum of five years following issuance, except that the terms of the instrument may allow it to be called sooner upon the occurrence of an event that would preclude the instrument from being included in tier 2 capital, a tax event, or if the issuing entity is required to register as an investment company pursuant to the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.). In addition: (A) The Board-regulated institution must receive the prior approval of the Board to exercise a call option on the instrument. (B) The Board-regulated institution does not create at issuance, through action or communication, an expectation the call option will be exercised. (C) Prior to exercising the call option, or immediately thereafter, the Board-regulated institution must either: Replace any amount called with an equivalent amount of an instrument that meets the criteria for regulatory capital under this section; \17\ or demonstrate to the satisfaction of the Board that following redemption, the Board-regulated institution would continue to hold an amount of capital that is commensurate with its risk. --------------------------------------------------------------------------- \17\ A Board-regulated institution may replace tier 2 capital instruments concurrent with the redemption of existing tier 2 capital instruments. --------------------------------------------------------------------------- (vi) The holder of the instrument must have no contractual right to accelerate payment of principal or interest on the instrument, except in the event of a receivership, insolvency, liquidation, or similar proceeding of the state member bank or depository institution holding company, as applicable, or of a major subsidiary depository institution of the depository institution holding company. (vii) The instrument has no credit-sensitive feature, such as a dividend or interest rate that is reset periodically based in whole or in part on the Board-regulated institution's credit standing, but may have a dividend rate that is adjusted periodically independent of the Board-regulated institution's credit standing, in relation to general market interest rates or similar adjustments. (viii) The Board-regulated institution, or an entity that the Board- regulated institution controls, has not purchased and has not directly or indirectly funded the purchase of the instrument. (ix) If the instrument is not issued directly by the Board-regulated institution or by a subsidiary of the Board-regulated institution that is an operating entity, the only asset of the issuing entity is its investment in the capital of the Board-regulated institution, and proceeds must be immediately available without limitation to the Board- regulated institution or the Board-regulated institution's top-tier holding company in a form that meets or exceeds all the other criteria for tier 2 capital instruments under this section.\18\ --------------------------------------------------------------------------- \18\ A Board-regulated institution may disregard de minimis assets related to the operation of the issuing entity for purposes of this criterion. --------------------------------------------------------------------------- (x) Redemption of the instrument prior to maturity or repurchase requires the prior approval of the Board. (xi) For an advanced approaches Board-regulated institution, the governing agreement, offering circular, or prospectus of an instrument issued after the date on which the advanced approaches Board-regulated institution becomes subject to this part under Sec. 217.1(f) must disclose that the holders of the instrument may be fully subordinated to interests held by the U.S. government in the event that the Board- [[Page 456]] regulated institution enters into a receivership, insolvency, liquidation, or similar proceeding. (2) Total capital minority interest, subject to the limitations set forth in Sec. 217.21, that is not included in the Board-regulated institution's tier 1 capital. (3) ALLL or AACL, as applicable, up to 1.25 percent of the Board- regulated institution's standardized total risk-weighted assets not including any amount of the ALLL or AACL, as applicable (and excluding in the case of a market risk Board-regulated institution, its standardized market risk-weighted assets). (4)(i) Any instrument that qualified as tier 2 capital under the Board's general risk-based capital rules under 12 CFR part 208, appendix A, 12 CFR part 225, appendix A as then in effect, that were issued under the Small Business Jobs Act of 2010,\19\ or prior to October 4, 2010, under the Emergency Economic Stabilization Act of 2008.\20\ --------------------------------------------------------------------------- \19\ Public Law 111-240; 124 Stat. 2504 (2010). \20\ Public Law 110-343, 122 Stat. 3765 (2008). --------------------------------------------------------------------------- (ii) Any debt instrument issued under the U.S. Department of the Treasury's Emergency Capital Investment Program pursuant to section 104A of the Community Development Banking and Financial Institutions Act of 1994, added by the Consolidated Appropriations Act, 2021.\21\ --------------------------------------------------------------------------- \21\ Public Law 116-260. --------------------------------------------------------------------------- (5) For a Board-regulated institution that makes an AOCI opt-out election (as defined in paragraph (b)(2) of Sec. 217.22), 45 percent of pretax net unrealized gains on available-for-sale preferred stock classified as an equity security under GAAP and available-for-sale equity exposures. (6) Notwithstanding the criteria for tier 2 capital instruments referenced above, an instrument with terms that provide that the instrument may be called earlier than five years upon the occurrence of a rating agency event does not violate the criterion in paragraph (d)(1)(v) of this section provided that the instrument was issued and included in a Board-regulated institution's tier 1 or tier 2 capital prior to January 1, 2014, and that such instrument satisfies all other criteria under this paragraph (d). (e) Board approval of a capital element. (1) A Board-regulated institution must receive Board prior approval to include a capital element (as listed in this section) in its common equity tier 1 capital, additional tier 1 capital, or tier 2 capital unless the element: (i) Was included in a Board-regulated institution's tier 1 capital or tier 2 capital prior to May 19, 2010 in accordance with the Board's risk-based capital rules that were effective as of that date and the underlying instrument may continue to be included under the criteria set forth in this section; or (ii) Is equivalent, in terms of capital quality and ability to absorb losses with respect to all material terms, to a regulatory capital element the Board determined may be included in regulatory capital pursuant to paragraph (e)(3) of this section. (2) When considering whether a Board-regulated institution may include a regulatory capital element in its common equity tier 1 capital, additional tier 1 capital, or tier 2 capital, the Federal Reserve Board will consult with the FDIC and OCC. (3) After determining that a regulatory capital element may be included in a Board-regulated institution's common equity tier 1 capital, additional tier 1 capital, or tier 2 capital, the Board will make its decision publicly available, including a brief description of the material terms of the regulatory capital element and the rationale for the determination. (f) A Board-regulated institution may not repurchase or redeem any common equity tier 1 capital, additional tier 1, or tier 2 capital instrument without the prior approval of the Board to the extent such prior approval is required by paragraph (b), (c), or (d) of this section, as applicable. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62286, Oct. 11, 2013; 78 FR 76973, Dec. 20, 2013; 79 FR 78295, Dec. 30, 2014; 84 FR 4242, Feb. 14, 2019; 84 FR 35260, July 22, 2019; 86 FR 15080, Mar. 22, 2021] Sec. 217.21 Minority interest. (a)(1) Applicability. For purposes of Sec. 217.20, a Board- regulated institution that is not an advanced approaches [[Page 457]] Board-regulated institution is subject to the minority interest limitations in this paragraph (a) if a consolidated subsidiary of the Board-regulated institution has issued regulatory capital that is not owned by the Board-regulated institution. (2) Common equity tier 1 minority interest includable in the common equity tier 1 capital of the Board-regulated institution. The amount of common equity tier 1 minority interest that a Board-regulated institution may include in common equity tier 1 capital must be no greater than 10 percent of the sum of all common equity tier 1 capital elements of the Board-regulated institution (not including the common equity tier 1 minority interest itself), less any common equity tier 1 capital regulatory adjustments and deductions in accordance with Sec. 217.22 (a) and (b). (3) Tier 1 minority interest includable in the tier 1 capital of the Board-regulated institution. The amount of tier 1 minority interest that a Board-regulated institution may include in tier 1 capital must be no greater than 10 percent of the sum of all tier 1 capital elements of the Board-regulated institution (not including the tier 1 minority interest itself), less any tier 1 capital regulatory adjustments and deductions in accordance with Sec. 217.22(a) and (b). (4) Total capital minority interest includable in the total capital of the Board-regulated institution. The amount of total capital minority interest that a Board-regulated institution may include in total capital must be no greater than 10 percent of the sum of all total capital elements of the Board-regulated institution (not including the total capital minority interest itself), less any total capital regulatory adjustments and deductions in accordance with Sec. 217.22(a) and (b). (b)(1) Applicability. For purposes of Sec. 217.20, an advanced approaches Board-regulated institution is subject to the minority interest limitations in this paragraph (b) if: (i) A consolidated subsidiary of the advanced approaches Board- regulated institution has issued regulatory capital that is not owned by the Board-regulated institution; and (ii) For each relevant regulatory capital ratio of the consolidated subsidiary, the ratio exceeds the sum of the subsidiary's minimum regulatory capital requirements plus its capital conservation buffer. (2) Difference in capital adequacy standards at the subsidiary level. For purposes of the minority interest calculations in this section, if the consolidated subsidiary issuing the capital is not subject to capital adequacy standards similar to those of the advanced approaches Board-regulated institution, the advanced approaches Board- regulated institution must assume that the capital adequacy standards of the advanced approaches Board-regulated institution apply to the subsidiary. (3) Common equity tier 1 minority interest includable in the common equity tier 1 capital of the Board-regulated institution. For each consolidated subsidiary of an advanced approaches Board-regulated institution, the amount of common equity tier 1 minority interest the advanced approaches Board-regulated institution may include in common equity tier 1 capital is equal to: (i) The common equity tier 1 minority interest of the subsidiary; minus (ii) The percentage of the subsidiary's common equity tier 1 capital that is not owned by the advanced approaches Board-regulated institution, multiplied by the difference between the common equity tier 1 capital of the subsidiary and the lower of: (A) The amount of common equity tier 1 capital the subsidiary must hold, or would be required to hold pursuant this paragraph (b), to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor; or (B)(1) The standardized total risk-weighted assets of the advanced approaches Board-regulated institution that relate to the subsidiary multiplied by (2) The common equity tier 1 capital ratio the subsidiary must maintain to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor. (4) Tier 1 minority interest includable in the tier 1 capital of the advanced approaches Board-regulated institution. For [[Page 458]] each consolidated subsidiary of the advanced approaches Board-regulated institution, the amount of tier 1 minority interest the advanced approaches Board-regulated institution may include in tier 1 capital is equal to: (i) The tier 1 minority interest of the subsidiary; minus (ii) The percentage of the subsidiary's tier 1 capital that is not owned by the advanced approaches Board-regulated institution multiplied by the difference between the tier 1 capital of the subsidiary and the lower of: (A) The amount of tier 1 capital the subsidiary must hold, or would be required to hold pursuant to this paragraph (b), to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor, or (B)(1) The standardized total risk-weighted assets of the advanced approaches Board-regulated institution that relate to the subsidiary multiplied by (2) The tier 1 capital ratio the subsidiary must maintain to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor. (5) Total capital minority interest includable in the total capital of the Board-regulated institution. For each consolidated subsidiary of the advanced approaches Board-regulated institution, the amount of total capital minority interest the advanced approaches Board-regulated institution may include in total capital is equal to: (i) The total capital minority interest of the subsidiary; minus (ii) The percentage of the subsidiary's total capital that is not owned by the advanced approaches Board-regulated institution multiplied by the difference between the total capital of the subsidiary and the lower of: (A) The amount of total capital the subsidiary must hold, or would be required to hold pursuant to this paragraph (b), to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor, or (B)(1) The standardized total risk-weighted assets of the advanced approaches Board-regulated institution that relate to the subsidiary multiplied by (2) The total capital ratio the subsidiary must maintain to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor. [Reg. Q, 84 FR 35260, July 22, 2019] Sec. 217.22 Regulatory capital adjustments and deductions. (a) Regulatory capital deductions from common equity tier 1 capital. A Board-regulated institution must deduct from the sum of its common equity tier 1 capital elements the items set forth in this paragraph (a): (1) Goodwill, net of associated deferred tax liabilities (DTLs) in accordance with paragraph (e) of this section, including goodwill that is embedded in the valuation of a significant investment in the capital of an unconsolidated financial institution in the form of common stock (and that is reflected in the consolidated financial statements of the Board-regulated institution), in accordance with paragraph (d) of this section; (2) Intangible assets, other than MSAs, net of associated DTLs in accordance with paragraph (e) of this section; (3) Deferred tax assets (DTAs) that arise from net operating loss and tax credit carryforwards net of any related valuation allowances and net of DTLs in accordance with paragraph (e) of this section; (4) Any gain-on-sale in connection with a securitization exposure; (5)(i) Any defined benefit pension fund net asset, net of any associated DTL in accordance with paragraph (e) of this section, held by a depository institution holding company. With the prior approval of the Board, this deduction is not required for any defined benefit pension fund net asset to the extent the depository institution holding company has unrestricted and unfettered access to the assets in that fund. [[Page 459]] (ii) For an insured depository institution, no deduction is required. (iii) A Board-regulated institution must risk weight any portion of the defined benefit pension fund asset that is not deducted under paragraphs (a)(5)(i) or (a)(5)(ii) of this section as if the Board- regulated institution directly holds a proportional ownership share of each exposure in the defined benefit pension fund. (6) For an advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to Sec. 217.121(d), the amount of expected credit loss that exceeds its eligible credit reserves; and (7) Financial subsidiaries. (i) A state member bank must deduct the aggregate amount of its outstanding equity investment, including retained earnings, in its financial subsidiaries (as defined in 12 CFR 208.77) and may not consolidate the assets and liabilities of a financial subsidiary with those of the state member bank. (ii) No other deduction is required under Sec. 217.22(c) for investments in the capital instruments of financial subsidiaries. (b) Regulatory adjustments to common equity tier 1 capital. (1) A Board-regulated institution must adjust the sum of common equity tier 1 capital elements pursuant to the requirements set forth in this paragraph (b). Such adjustments to common equity tier 1 capital must be made net of the associated deferred tax effects. (i) A Board-regulated institution that makes an AOCI opt-out election (as defined in paragraph (b)(2) of this section), must make the adjustments required under Sec. 217.22(b)(2)(i). (ii) A Board-regulated institution that is an advanced approaches Board-regulated institution, and a Board-regulated institution that has not made an AOCI opt-out election (as defined in paragraph (b)(2) of this section), must deduct any accumulated net gains and add any accumulated net losses on cash flow hedges included in AOCI that relate to the hedging of items that are not recognized at fair value on the balance sheet. (iii) A Board-regulated institution must deduct any net gain and add any net loss related to changes in the fair value of liabilities that are due to changes in the Board-regulated institution's own credit risk. An advanced approaches Board-regulated institution must deduct the difference between its credit spread premium and the risk-free rate for derivatives that are liabilities as part of this adjustment. (2) AOCI opt-out election. (i) A Board-regulated institution that is not an advanced approaches Board-regulated institution may make a one- time election to opt out of the requirement to include all components of AOCI (with the exception of accumulated net gains and losses on cash flow hedges related to items that are not fair-valued on the balance sheet) in common equity tier 1 capital (AOCI opt-out election). A Board- regulated institution that makes an AOCI opt-out election in accordance with this paragraph (b)(2) must adjust common equity tier 1 capital as follows: (A) Subtract any net unrealized gains and add any net unrealized losses on available-for-sale securities; (B) Subtract any net unrealized losses on available-for-sale preferred stock classified as an equity security under GAAP and available-for-sale equity exposures; (C) Subtract any accumulated net gains and add any accumulated net losses on cash flow hedges; (D) Subtract any amounts recorded in AOCI attributed to defined benefit postretirement plans resulting from the initial and subsequent application of the relevant GAAP standards that pertain to such plans (excluding, at the Board-regulated institution's option, the portion relating to pension assets deducted under paragraph (a)(5) of this section); and (E) Subtract any net unrealized gains and add any net unrealized losses on held-to-maturity securities that are included in AOCI. (ii) A Board-regulated institution that is not an advanced approaches Board-regulated institution must make its AOCI opt-out election in the Call Report, for a state member bank, FR Y-9C, for bank holding companies or savings and loan holding companies: [[Page 460]] (A) If the Board-regulated institution is a Category III Board- regulated institution or Category IV Board-regulated institution, during the first reporting period after the Board-regulated institution meets the definition of a Category III Board-regulated institution or Category IV Board-regulated institution in Sec. 217.2; or (B) If the A Board-regulated institution is not a Category III Board-regulated institution and not a Category IV Board-regulated institution, during the first reporting period after the Board-regulated institution is required to comply with subpart A of this part as set forth in Sec. 217.1(f). (iii) Each depository institution subsidiary of a Board-regulated institution that is not an advanced approaches Board-regulated institution must elect the same option as the Board-regulated institution pursuant to paragraph (b)(2). (iv) With prior notice to the Board, a Board-regulated institution resulting from a merger, acquisition, or purchase transaction may make a new AOCI opt-out election in the Call Report (for a state member bank), or FR Y-9C or FR Y-9SP, as applicable (for bank holding companies or savings and loan holding companies) filed by the resulting Board- regulated institution for the first reporting period after it is required to comply with subpart A of this part as set forth in Sec. 217.1(f) if: (A) Other than as set forth in paragraph (b)(2)(iv)(C) of this section, the merger, acquisition, or purchase transaction involved the acquisition or purchase of all or substantially all of either the assets or voting stock of another banking organization that is subject to regulatory capital requirements issued by the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, or the Office of the Comptroller of the Currency; \22\ --------------------------------------------------------------------------- \22\ These rules include the regulatory capital requirements set forth at 12 CFR part 3 (OCC); 12 CFR part 225 (Board); 12 CFR part 325, and 12 CFR part 390 (FDIC). --------------------------------------------------------------------------- (B) Prior to the merger, acquisition, or purchase transaction, only one of the banking organizations involved in the transaction made an AOCI opt-out election under this section; and (C) A Board-regulated institution may, with the prior approval of the Board, change its AOCI opt-out election under this paragraph (b) in the case of a merger, acquisition, or purchase transaction that meets the requirements set forth at paragraph (b)(2)(iv)(B) of this section, but does not meet the requirements of paragraph (b)(2)(iv)(A). In making such a determination, the Board may consider the terms of the merger, acquisition, or purchase transaction, as well as the extent of any changes to the risk profile, complexity, and scope of operations of the Board-regulated institution resulting from the merger, acquisition, or purchase transaction. (3) Regulatory capital requirement for insurance underwriting risks. A bank holding company or savings and loan holding company must deduct an amount equal to the regulatory capital requirement for insurance underwriting risks established by the regulator of any insurance underwriting activities of the company. The bank holding company or savings and loan holding company must take the deduction 50 percent from tier 1 capital and 50 percent from tier 2 capital. If the amount deductible from tier 2 capital exceeds the Board-regulated institution's tier 2 capital, the Board-regulated institution must deduct the excess from tier 1 capital. (c) Deductions from regulatory capital related to investments in capital instruments or covered debt instruments \23\--(1) Investment in the Board-regulated institution's own capital or covered debt instruments. A Board-regulated institution must deduct an investment in the Board-regulated institution's own capital instruments, and an advanced approaches Board-regulated institution also must deduct an investment in the Board-regulated institution's own covered debt instruments, as follows: --------------------------------------------------------------------------- \23\ The Board-regulated institution must calculate amounts deducted under paragraphs (c) through (f) of this section after it calculates the amount of ALLL or AACL, as applicable, includable in tier 2 capital under Sec. 217.20(d)(3). --------------------------------------------------------------------------- (i) A Board-regulated institution must deduct an investment in the [[Page 461]] Board-regulated institution's own common stock instruments from its common equity tier 1 capital elements to the extent such instruments are not excluded from regulatory capital under Sec. 217.20(b)(1); (ii) A Board-regulated institution must deduct an investment in the Board-regulated institution's own additional tier 1 capital instruments from its additional tier 1 capital elements; (iii) A Board-regulated institution must deduct an investment in the Board-regulated institution's own tier 2 capital instruments from its tier 2 capital elements; and (iv) An advanced approaches Board-regulated institution must deduct an investment in the institution's own covered debt instruments from its tier 2 capital elements, as applicable. If the advanced approaches Board-regulated institution does not have a sufficient amount of tier 2 capital to effect this deduction, the institution must deduct the shortfall amount from the next higher (that is, more subordinated) component of regulatory capital. (2) Corresponding deduction approach. For purposes of subpart C of this part, the corresponding deduction approach is the methodology used for the deductions from regulatory capital related to reciprocal cross holdings (as described in paragraph (c)(3) of this section), investments in the capital of unconsolidated financial institutions for a Board- regulated institution that is not an advanced approaches Board-regulated institution (as described in paragraph (c)(4) of this section), non- significant investments in the capital of unconsolidated financial institutions for an advanced approaches Board-regulated institution (as described in paragraph (c)(5) of this section), and non-common stock significant investments in the capital of unconsolidated financial institutions for an advanced approaches Board-regulated institution (as described in paragraph (c)(6) of this section). Under the corresponding deduction approach, a Board-regulated institution must make deductions from the component of capital for which the underlying instrument would qualify if it were issued by the Board-regulated institution itself, as described in paragraphs (c)(2)(i) through (iii) of this section. If the Board-regulated institution does not have a sufficient amount of a specific component of capital to effect the required deduction, the shortfall must be deducted according to paragraph (f) of this section. (i) If an investment is in the form of an instrument issued by a financial institution that is not a regulated financial institution, the Board-regulated institution must treat the instrument as: (A) A common equity tier 1 capital instrument if it is common stock or represents the most subordinated claim in a liquidation of the financial institution; and (B) An additional tier 1 capital instrument if it is subordinated to all creditors of the financial institution and is senior in liquidation only to common shareholders. (ii) If an investment is in the form of an instrument issued by a regulated financial institution and the instrument does not meet the criteria for common equity tier 1, additional tier 1 or tier 2 capital instruments under Sec. 217.20, the Board-regulated institution must treat the instrument as: (A) A common equity tier 1 capital instrument if it is common stock included in GAAP equity or represents the most subordinated claim in liquidation of the financial institution; (B) An additional tier 1 capital instrument if it is included in GAAP equity, subordinated to all creditors of the financial institution, and senior in a receivership, insolvency, liquidation, or similar proceeding only to common shareholders; (C) A tier 2 capital instrument if it is not included in GAAP equity but considered regulatory capital by the primary supervisor of the financial institution; and (D) For an advanced approaches Board-regulated institution, a tier 2 capital instrument if it is a covered debt instrument. (iii) If an investment is in the form of a non-qualifying capital instrument (as defined in Sec. 217.300(c)), the Board-regulated institution must treat the instrument as: [[Page 462]] (A) An additional tier 1 capital instrument if such instrument was included in the issuer's tier 1 capital prior to May 19, 2010; or (B) A tier 2 capital instrument if such instrument was included in the issuer's tier 2 capital (but not includable in tier 1 capital) prior to May 19, 2010. (3) Reciprocal cross holdings in the capital of financial institutions. (i) A Board-regulated institution must deduct an investment in the capital of other financial institutions that it holds reciprocally, where such reciprocal cross holdings result from a formal or informal arrangement to swap, exchange, or otherwise intend to hold each other's capital instruments, by applying the corresponding deduction approach in paragraph (c)(2) of this section. (ii) An advanced approaches Board-regulated institution must deduct an investment in any covered debt instrument that the institution holds reciprocally with another financial institution, where such reciprocal cross holdings result from a formal or informal arrangement to swap, exchange, or otherwise intend to hold each other's capital or covered debt instruments, by applying the corresponding deduction approach in paragraph (c)(2) of this section. (4) Investments in the capital of unconsolidated financial institutions. A Board-regulated institution that is not an advanced approaches Board-regulated institution must deduct its investments in the capital of unconsolidated financial institutions (as defined in Sec. 217.2) that exceed 25 percent of the sum of the Board-regulated institution's common equity tier 1 capital elements minus all deductions from and adjustments to common equity tier 1 capital elements required under paragraphs (a) through (c)(3) of this section by applying the corresponding deduction approach in paragraph (c)(2) of this section.\24\ The deductions described in this section are net of associated DTLs in accordance with paragraph (e) of this section. In addition, with the prior written approval of the Board, a Board- regulated institution that underwrites a failed underwriting, for the period of time stipulated by the Board, is not required to deduct an investment in the capital of an unconsolidated financial institution pursuant to this paragraph (c) to the extent the investment is related to the failed underwriting.\25\ --------------------------------------------------------------------------- \24\ With the prior written approval of the Board, for the period of time stipulated by the Board, a Board-regulated institution that is not an advanced approaches Board-regulated institution is not required to deduct an investment in the capital of an unconsolidated financial institution pursuant to this paragraph if the financial institution is in distress and if such investment is made for the purpose of providing financial support to the financial institution, as determined by the Board. \25\ Any investments in the capital of unconsolidated financial institutions that do not exceed the 25 percent threshold for investments in the capital of unconsolidated financial institutions under this section must be assigned the appropriate risk weight under subparts D or F of this part, as applicable. --------------------------------------------------------------------------- (5) Non-significant investments in the capital of unconsolidated financial institutions. (i) An advanced approaches Board-regulated institution must deduct its non-significant investments in the capital of unconsolidated financial institutions (as defined in Sec. 217.2) that, in the aggregate and together with any investment in a covered debt instrument (as defined in Sec. 217.2) issued by a financial institution in which the Board-regulated institution does not have a significant investment in the capital of the unconsolidated financial institution (as defined in Sec. 217.2), exceeds 10 percent of the sum of the advanced approaches Board-regulated institution's common equity tier 1 capital elements minus all deductions from and adjustments to common equity tier 1 capital elements required under paragraphs (a) through (c)(3) of this section (the 10 percent threshold for non- significant investments) by applying the corresponding deduction approach in paragraph (c)(2) of this section.\26\ The deductions described in this [[Page 463]] paragraph are net of associated DTLs in accordance with paragraph (e) of this section. In addition, with the prior written approval of the Board, an advanced approaches Board-regulated institution that underwrites a failed underwriting, for the period of time stipulated by the Board, is not required to deduct from capital a non-significant investment in the capital of an unconsolidated financial institution or an investment in a covered debt instrument pursuant to this paragraph (c)(5) to the extent the investment is related to the failed underwriting.\27\ For any calculation under this paragraph (c)(5)(i), an advanced approaches Board-regulated institution may exclude the amount of an investment in a covered debt instrument under paragraph (c)(5)(iii) or (iv) of this section, as applicable. --------------------------------------------------------------------------- \26\ With the prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution is not required to deduct a non-significant investment in the capital of an unconsolidated financial institution or an investment in a covered debt instrument pursuant to this paragraph if the financial institution is in distress and if such investment is made for the purpose of providing financial support to the financial institution, as determined by the Board. \27\ Any non-significant investment in the capital of an unconsolidated financial institution or any investment in a covered debt instrument that is not required to be deducted under this paragraph (c)(5) or otherwise under this section must be assigned the appropriate risk weight under subparts D, E, or F of this part, as applicable. --------------------------------------------------------------------------- (ii) For an advanced approaches Board-regulated institution, the amount to be deducted under this paragraph (c)(5) from a specific capital component is equal to: (A) The advanced approaches Board-regulated institution's aggregate non-significant investments in the capital of an unconsolidated financial institution and, if applicable, any investments in a covered debt instrument subject to deduction under this paragraph (c)(5), exceeding the 10 percent threshold for non-significant investments, multiplied by (B) The ratio of the advanced approaches Board-regulated institution's aggregate non-significant investments in the capital of an unconsolidated financial institution (in the form of such capital component) to the advanced approaches Board-regulated institution's total non-significant investments in unconsolidated financial institutions, with an investment in a covered debt instrument being treated as tier 2 capital for this purpose. (iii) For purposes of applying the deduction under paragraph (c)(5)(i) of this section, an advanced approaches Board-regulated institution that is not a global systemically important BHC or a subsidiary of a global systemically important banking organization, as defined in 12 CFR 252.2, may exclude from the deduction the amount of the Board-regulated institution's gross long position, in accordance with Sec. 217.22(h)(2), in investments in covered debt instruments issued by financial institutions in which the Board-regulated institution does not have a significant investment in the capital of the unconsolidated financial institutions up to an amount equal to 5 percent of the sum of the Board-regulated institution's common equity tier 1 capital elements minus all deductions from and adjustments to common equity tier 1 capital elements required under paragraphs (a) through (c)(3) of this section, net of associated DTLs in accordance with paragraph (e) of this section. (iv) Prior to applying the deduction under paragraph (c)(5)(i) of this section: (A) A global systemically important BHC or a Board-regulated institution that is a subsidiary of a global systemically important BHC may designate any investment in a covered debt instrument as an excluded covered debt instrument, as defined in Sec. 217.2. (B) A global systemically important BHC or a Board-regulated institution that is a subsidiary of a global systemically important BHC must deduct, according to the corresponding deduction approach in paragraph (c)(2) of this section, its gross long position, calculated in accordance with paragraph (h)(2) of this section, in a covered debt instrument that was originally designated as an excluded covered debt instrument, in accordance with paragraph (c)(5)(iv)(A) of this section, but no longer qualifies as an excluded covered debt instrument. (C) A global systemically important BHC or a Board-regulated institution that is a subsidiary of a global systemically important BHC must deduct according to the corresponding deduction approach in paragraph (c)(2) of this section the amount of its gross long position, calculated in accordance with [[Page 464]] paragraph (h)(2) of this section, in a direct or indirect investment in a covered debt instrument that was originally designated as an excluded covered debt instrument, in accordance with paragraph (c)(5)(iv)(A) of this section, and has been held for more than thirty business days. (D) A global systemically important BHC or a Board-regulated institution that is a subsidiary of a global systemically important BHC must deduct according to the corresponding deduction approach in paragraph (c)(2) of this section its gross long position, calculated in accordance with paragraph (h)(2) of this section, of its aggregate position in excluded covered debt instruments that exceeds 5 percent of the sum of the Board-regulated institution's common equity tier 1 capital elements minus all deductions from and adjustments to common equity tier 1 capital elements required under paragraphs (a) through (c)(3) of this section, net of associated DTLs in accordance with paragraph (e) of this section. (6) Significant investments in the capital of unconsolidated financial institutions that are not in the form of common stock. If an advanced approaches Board-regulated institution has a significant investment in the capital of an unconsolidated financial institution, the advanced approaches Board-regulated institution must deduct from capital any such investment issued by the unconsolidated financial institution that is held by the Board-regulated institution other than an investment in the form of common stock, as well as any investment in a covered debt instrument issued by the unconsolidated financial institution, by applying the corresponding deduction approach in paragraph (c)(2) of this section.\28\ The deductions described in this section are net of associated DTLs in accordance with paragraph (e) of this section. In addition, with the prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution that underwrites a failed underwriting is not required to deduct the significant investment in the capital of an unconsolidated financial institution or an investment in a covered debt instrument pursuant to this paragraph (c)(6) if such investment is related to such failed underwriting. --------------------------------------------------------------------------- \28\ With prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution is not required to deduct a significant investment in the capital of an unconsolidated financial institution, including an investment in a covered debt instrument, under this paragraph (c)(6) or otherwise under this section if such investment is made for the purpose of providing financial support to the financial institution as determined by the Board. --------------------------------------------------------------------------- (d) MSAs and certain DTAs subject to common equity tier 1 capital deduction thresholds. (1) A Board-regulated institution that is not an advanced approaches Board-regulated institution must make deductions from regulatory capital as described in this paragraph (d)(1). (i) The Board-regulated institution must deduct from common equity tier 1 capital elements the amount of each of the items set forth in this paragraph (d)(1) that, individually, exceeds 25 percent of the sum of the Board-regulated institution's common equity tier 1 capital elements, less adjustments to and deductions from common equity tier 1 capital required under paragraphs (a) through (c)(3) of this section (the 25 percent common equity tier 1 capital deduction threshold).\29\ --------------------------------------------------------------------------- \29\ The amount of the items in paragraph (d)(1) of this section that is not deducted from common equity tier 1 capital must be included in the risk-weighted assets of the Board-regulated institution and assigned a 250 percent risk weight. --------------------------------------------------------------------------- (ii) The Board-regulated institution must deduct from common equity tier 1 capital elements the amount of DTAs arising from temporary differences that the Board-regulated institution could not realize through net operating loss carrybacks, net of any related valuation allowances and net of DTLs, in accordance with paragraph (e) of this section. A Board-regulated institution is not required to deduct from the sum of its common equity tier 1 capital elements DTAs (net of any related valuation allowances and net of DTLs, in accordance with Sec. 217.22(e)) arising from timing differences that the Board-regulated institution could realize through net operating loss [[Page 465]] carrybacks. The Board-regulated institution must risk weight these assets at 100 percent. For a state member bank that is a member of a consolidated group for tax purposes, the amount of DTAs that could be realized through net operating loss carrybacks may not exceed the amount that the state member bank could reasonably expect to have refunded by its parent holding company. (iii) The Board-regulated institution must deduct from common equity tier 1 capital elements the amount of MSAs net of associated DTLs, in accordance with paragraph (e) of this section. (iv) For purposes of calculating the amount of DTAs subject to deduction pursuant to paragraph (d)(1) of this section, a Board- regulated institution may exclude DTAs and DTLs relating to adjustments made to common equity tier 1 capital under paragraph (b) of this section. A Board-regulated institution that elects to exclude DTAs relating to adjustments under paragraph (b) of this section also must exclude DTLs and must do so consistently in all future calculations. A Board-regulated institution may change its exclusion preference only after obtaining the prior approval of the Board. (2) An advanced approaches Board-regulated institution must make deductions from regulatory capital as described in this paragraph (d)(2). (i) An advanced approaches Board-regulated institution must deduct from common equity tier 1 capital elements the amount of each of the items set forth in this paragraph (d)(2) that, individually, exceeds 10 percent of the sum of the advanced approaches Board-regulated institution's common equity tier 1 capital elements, less adjustments to and deductions from common equity tier 1 capital required under paragraphs (a) through (c) of this section (the 10 percent common equity tier 1 capital deduction threshold). (A) DTAs arising from temporary differences that the advanced approaches Board-regulated institution could not realize through net operating loss carrybacks, net of any related valuation allowances and net of DTLs, in accordance with paragraph (e) of this section. An advanced approaches Board-regulated institution is not required to deduct from the sum of its common equity tier 1 capital elements DTAs (net of any related valuation allowances and net of DTLs, in accordance with Sec. 217.22(e)) arising from timing differences that the advanced approaches Board-regulated institution could realize through net operating loss carrybacks. The advanced approaches Board-regulated institution must risk weight these assets at 100 percent. For a state member bank that is a member of a consolidated group for tax purposes, the amount of DTAs that could be realized through net operating loss carrybacks may not exceed the amount that the state member bank could reasonably expect to have refunded by its parent holding company. (B) MSAs net of associated DTLs, in accordance with paragraph (e) of this section. (C) Significant investments in the capital of unconsolidated financial institutions in the form of common stock, net of associated DTLs in accordance with paragraph (e) of this section.\30\ Significant investments in the capital of unconsolidated financial institutions in the form of common stock subject to the 10 percent common equity tier 1 capital deduction threshold may be reduced by any goodwill embedded in the valuation of such investments deducted by the advanced approaches Board-regulated institution pursuant to paragraph (a)(1) of this section. In addition, with the prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution that underwrites a failed underwriting is not required to deduct a significant investment in the capital of an unconsolidated financial institution in the form of common stock pursuant to this paragraph (d)(2) [[Page 466]] if such investment is related to such failed underwriting. --------------------------------------------------------------------------- \30\ With the prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution is not required to deduct a significant investment in the capital instrument of an unconsolidated financial institution in distress in the form of common stock pursuant to this section if such investment is made for the purpose of providing financial support to the financial institution as determined by the Board. --------------------------------------------------------------------------- (ii) An advanced approaches Board-regulated institution must deduct from common equity tier 1 capital elements the items listed in paragraph (d)(2)(i) of this section that are not deducted as a result of the application of the 10 percent common equity tier 1 capital deduction threshold, and that, in aggregate, exceed 17.65 percent of the sum of the advanced approaches Board-regulated institution's common equity tier 1 capital elements, minus adjustments to and deductions from common equity tier 1 capital required under paragraphs (a) through (c) of this section, minus the items listed in paragraph (d)(2)(i) of this section (the 15 percent common equity tier 1 capital deduction threshold). Any goodwill that has been deducted under paragraph (a)(1) of this section can be excluded from the significant investments in the capital of unconsolidated financial institutions in the form of common stock.\31\ --------------------------------------------------------------------------- \31\ The amount of the items in paragraph (d)(2) of this section that is not deducted from common equity tier 1 capital pursuant to this section must be included in the risk-weighted assets of the advanced approaches Board-regulated institution and assigned a 250 percent risk weight. --------------------------------------------------------------------------- (iii) For purposes of calculating the amount of DTAs subject to the 10 and 15 percent common equity tier 1 capital deduction thresholds, an advanced approaches Board-regulated institution may exclude DTAs and DTLs relating to adjustments made to common equity tier 1 capital under paragraph (b) of this section. An advanced approaches Board-regulated institution that elects to exclude DTAs relating to adjustments under paragraph (b) of this section also must exclude DTLs and must do so consistently in all future calculations. An advanced approaches Board- regulated institution may change its exclusion preference only after obtaining the prior approval of the Board. (e) Netting of DTLs against assets subject to deduction. (1) Except as described in paragraph (e)(3) of this section, netting of DTLs against assets that are subject to deduction under this section is permitted, but not required, if the following conditions are met: (i) The DTL is associated with the asset; and (ii) The DTL would be extinguished if the associated asset becomes impaired or is derecognized under GAAP. (2) A DTL may only be netted against a single asset. (3) For purposes of calculating the amount of DTAs subject to the threshold deduction in paragraph (d) of this section, the amount of DTAs that arise from net operating loss and tax credit carryforwards, net of any related valuation allowances, and of DTAs arising from temporary differences that the Board-regulated institution could not realize through net operating loss carrybacks, net of any related valuation allowances, may be offset by DTLs (that have not been netted against assets subject to deduction pursuant to paragraph (e)(1) of this section) subject to the conditions set forth in this paragraph (e). (i) Only the DTAs and DTLs that relate to taxes levied by the same taxation authority and that are eligible for offsetting by that authority may be offset for purposes of this deduction. (ii) The amount of DTLs that the Board-regulated institution nets against DTAs that arise from net operating loss and tax credit carryforwards, net of any related valuation allowances, and against DTAs arising from temporary differences that the Board-regulated institution could not realize through net operating loss carrybacks, net of any related valuation allowances, must be allocated in proportion to the amount of DTAs that arise from net operating loss and tax credit carryforwards (net of any related valuation allowances, but before any offsetting of DTLs) and of DTAs arising from temporary differences that the Board-regulated institution could not realize through net operating loss carrybacks (net of any related valuation allowances, but before any offsetting of DTLs), respectively. (4) A Board-regulated institution may offset DTLs embedded in the carrying value of a leveraged lease portfolio acquired in a business combination that are not recognized under GAAP against DTAs that are subject to paragraph (d) of this section in accordance with this paragraph (e). [[Page 467]] (5) A Board-regulated institution must net DTLs against assets subject to deduction under this section in a consistent manner from reporting period to reporting period. A Board-regulated institution may change its preference regarding the manner in which it nets DTLs against specific assets subject to deduction under this section only after obtaining the prior approval of the Board. (f) Insufficient amounts of a specific regulatory capital component to effect deductions. Under the corresponding deduction approach, if a Board-regulated institution does not have a sufficient amount of a specific component of capital to effect the full amount of any deduction from capital required under paragraph (d) of this section, the Board- regulated institution must deduct the shortfall amount from the next higher (that is, more subordinated) component of regulatory capital. Any investment by an advanced approaches Board-regulated institution in a covered debt instrument must be treated as an investment in the tier 2 capital for purposes of this paragraph (f). Notwithstanding any other provision of this section, a qualifying community banking organization (as defined in Sec. 217.12) that has elected to use the community bank leverage ratio framework pursuant to Sec. 217.12 is not required to deduct any shortfall of tier 2 capital from its additional tier 1 capital or common equity tier 1 capital. (g) Treatment of assets that are deducted. A Board-regulated institution must exclude from standardized total risk-weighted assets and, as applicable, advanced approaches total risk-weighted assets any item that is required to be deducted from regulatory capital. (h) Net long position--(1) In general. For purposes of calculating the amount of a Board-regulated institution's investment in the Board regulated institution's own capital instrument, investment in the capital of an unconsolidated financial institution, and investment in a covered debt instrument under this section, the institution's net long position is the gross long position in the underlying instrument determined in accordance with paragraph (h)(2) of this section, as adjusted to recognize any short position by the Board-regulated institution in the same instrument subject to paragraph (h)(3) of this section. (2) Gross long position. A gross long position is determined as follows: (i) For an equity exposure that is held directly by the Board- regulated institution, the adjusted carrying value of the exposure as that term is defined in Sec. 217.51(b); (ii) For an exposure that is held directly and that is not an equity exposure or a securitization exposure, the exposure amount as that term is defined in Sec. 217.2; (iii) For each indirect exposure, the Board-regulated institution's carrying value of its investment in an investment fund or, alternatively: (A) A Board-regulated institution may, with the prior approval of the Board, use a conservative estimate of the amount of its indirect investment in the Board-regulated institution's own capital instruments, its indirect investment in the capital of an unconsolidated financial institution, or its indirect investment in a covered debt instrument held through a position in an index, as applicable; or (B) A Board-regulated institution may calculate the gross long position for an indirect exposure to the Board-regulated institution's own capital instruments, the capital of an unconsolidated financial institution, or a covered debt instrument by multiplying the Board- regulated institution's carrying value of its investment in the investment fund by either: (1) The highest stated investment limit (in percent) for an investment in the Board-regulated institution's own capital instruments, an investment in the capital of an unconsolidated financial institution, or an investment in a covered debt instrument, as applicable, as stated in the prospectus, partnership agreement, or similar contract defining permissible investments of the investment fund; or (2) The investment fund's actual holdings (in percent) of the investment in the Board-regulated institution's own capital instruments, investment in the capital of an unconsolidated financial institution, or investment in a covered debt instrument, as applicable; and [[Page 468]] (iv) For a synthetic exposure, the amount of the Board-regulated institution's loss on the exposure if the reference capital or covered debt instrument were to have a value of zero. (3) Adjustments to reflect a short position. In order to adjust the gross long position to recognize a short position in the same instrument under paragraph (h)(1) of this section, the following criteria must be met: (i) The maturity of the short position must match the maturity of the long position, or the short position must have a residual maturity of at least one year (maturity requirement); or (ii) For a position that is a trading asset or trading liability (whether on- or off-balance sheet) as reported on the Board-regulated institution's Call Report, for a state member bank, or FR Y-9C, for a bank holding company, savings and loan holding company, or intermediate holding company, as applicable, if the Board-regulated institution has a contractual right or obligation to sell the long position at a specific point in time and the counterparty to the contract has an obligation to purchase the long position if the Board-regulated institution exercises its right to sell, this point in time may be treated as the maturity of the long position such that the maturity of the long position and short position are deemed to match for purposes of the maturity requirement, even if the maturity of the short position is less than one year; and (iii) For an investment in a Board-regulated institution's own capital instrument under paragraph (c)(1) of this section, an investment in the capital of an unconsolidated financial institution under paragraphs (c)(4) through (6) and (d) of this section (as applicable), and an investment in a covered debt instrument under paragraphs (c)(1), (5), and (6) of this section: (A) The Board-regulated institution may only net a short position against a long position in an investment in the Board-regulated institution's own capital instrument or own covered debt instrument under paragraph (c)(1) of this section if the short position involves no counterparty credit risk; (B) A gross long position in an investment in the Board-regulated institution's own capital instrument, an investment in the capital of an unconsolidated financial institution, or an investment in a covered debt instrument due to a position in an index may be netted against a short position in the same index; (C) Long and short positions in the same index without maturity dates are considered to have matching maturities; and (D) A short position in an index that is hedging a long cash or synthetic position in an investment in the Board-regulated institution's own capital instrument, an investment in the capital instrument of an unconsolidated financial institution, or an investment in a covered debt instrument can be decomposed to provide recognition of the hedge. More specifically, the portion of the index that is composed of the same underlying instrument that is being hedged may be used to offset the long position if both the long position being hedged and the short position in the index are reported as a trading asset or trading liability (whether on- or off-balance sheet) on the Board-regulated institution's Call Report, for a state member bank, or FR Y-9C, for a bank holding company, savings and loan holding company, or intermediate holding company, as applicable, and the hedge is deemed effective by the Board-regulated institution's internal control processes, which have not been found to be inadequate by the Board. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62287, Oct. 11, 2013; 79 FR 78295, Dec. 30, 2014; 80 FR 41419, July 15, 2015; 84 FR 4242, Feb. 14, 2019; 84 FR 35261, July 22, 2019; 84 FR 59271, Nov. 1, 2019; 84 FR 61798, Nov. 13, 2019; 86 FR 735, Jan. 6, 2021] Editorial Note: At 84 FR 35261, July 22, 2019, Sec. 217.22 was amended in part by revising (a)(1)(i); however, the amendment could not be incorporated due to inaccurate amendatory instruction. Sec. Sec. 217.23-217.29 [Reserved] Subpart D_Risk-Weighted Assets_Standardized Approach Sec. 217.30 Applicability. (a) This subpart sets forth methodologies for determining risk- weighted assets for purposes of the generally [[Page 469]] applicable risk-based capital requirements for all Board-regulated institutions. (b) Notwithstanding paragraph (a) of this section, a market risk Board-regulated institution must exclude from its calculation of risk- weighted assets under this subpart the risk-weighted asset amounts of all covered positions, as defined in subpart F of this part (except foreign exchange positions that are not trading positions, OTC derivative positions, cleared transactions, and unsettled transactions). Risk-Weighted Assets For General Credit Risk Sec. 217.31 Mechanics for calculating risk-weighted assets for general credit risk. (a) General risk-weighting requirements. A Board-regulated institution must apply risk weights to its exposures as follows: (1) A Board-regulated institution must determine the exposure amount of each on-balance sheet exposure, each OTC derivative contract, and each off-balance sheet commitment, trade and transaction-related contingency, guarantee, repo-style transaction, financial standby letter of credit, forward agreement, or other similar transaction that is not: (i) An unsettled transaction subject to Sec. 217.38; (ii) A cleared transaction subject to Sec. 217.35; (iii) A default fund contribution subject to Sec. 217.35; (iv) A securitization exposure subject to Sec. Sec. 217.41 through 217.45; or (v) An equity exposure (other than an equity OTC derivative contract) subject to Sec. Sec. 217.51 through 217.53. (2) The Board-regulated institution must multiply each exposure amount by the risk weight appropriate to the exposure based on the exposure type or counterparty, eligible guarantor, or financial collateral to determine the risk-weighted asset amount for each exposure. (b) Total risk-weighted assets for general credit risk equals the sum of the risk-weighted asset amounts calculated under this section. Sec. 217.32 General risk weights. (a) Sovereign exposures--(1) Exposures to the U.S. government. (i) Notwithstanding any other requirement in this subpart, a Board-regulated institution must assign a zero percent risk weight to: (A) An exposure to the U.S. government, its central bank, or a U.S. government agency; and (B) The portion of an exposure that is directly and unconditionally guaranteed by the U.S. government, its central bank, or a U.S. government agency. This includes a deposit or other exposure, or the portion of a deposit or other exposure, that is insured or otherwise unconditionally guaranteed by the FDIC or National Credit Union Administration. (ii) A Board-regulated institution must assign a 20 percent risk weight to the portion of an exposure that is conditionally guaranteed by the U.S. government, its central bank, or a U.S. government agency. This includes an exposure, or the portion of an exposure, that is conditionally guaranteed by the FDIC or National Credit Union Administration. (iii) A Board-regulated institution must assign a zero percent risk weight to a Paycheck Protection Program covered loan as defined in section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)). (2) Other sovereign exposures. In accordance with Table 1 to Sec. 217.32, a Board-regulated institution must assign a risk weight to a sovereign exposure based on the CRC applicable to the sovereign or the sovereign's OECD membership status if there is no CRC applicable to the sovereign. Table 1 to Sec. 217.32--Risk Weights for Sovereign Exposures ------------------------------------------------------------------------ Risk weight (in percent) ------------------------------------------------------------------------ CRC: 0-1................................................... 0 2..................................................... 20 3..................................................... 50 4-6................................................... 100 7..................................................... 150 OECD Member with No CRC................................. 0 Non-OECD Member with No CRC............................. 100 Sovereign Default....................................... 150 ------------------------------------------------------------------------ [[Page 470]] (3) Certain sovereign exposures. Notwithstanding paragraph (a)(2) of this section, a Board-regulated institution may assign to a sovereign exposure a risk weight that is lower than the applicable risk weight in Table 1 to Sec. 217.32 if: (i) The exposure is denominated in the sovereign's currency; (ii) The Board-regulated institution has at least an equivalent amount of liabilities in that currency; and (iii) The risk weight is not lower than the risk weight that the home country supervisor allows Board-regulated institutions under its jurisdiction to assign to the same exposures to the sovereign. (4) Exposures to a non-OECD member sovereign with no CRC. Except as provided in paragraphs (a)(3), (a)(5) and (a)(6) of this section, a Board-regulated institution must assign a 100 percent risk weight to an exposure to a sovereign if the sovereign does not have a CRC. (5) Exposures to an OECD member sovereign with no CRC. Except as provided in paragraph (a)(6) of this section, a Board-regulated institution must assign a 0 percent risk weight to an exposure to a sovereign that is a member of the OECD if the sovereign does not have a CRC. (6) Sovereign default. A Board-regulated institution must assign a 150 percent risk weight to a sovereign exposure immediately upon determining that an event of sovereign default has occurred, or if an event of sovereign default has occurred during the previous five years. (b) Certain supranational entities and multilateral development banks (MDBs). A Board-regulated institution must assign a zero percent risk weight to an exposure to the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, or an MDB. (c) Exposures to GSEs. (1) A Board-regulated institution must assign a 20 percent risk weight to an exposure to a GSE other than an equity exposure or preferred stock. (2) A Board-regulated institution must assign a 100 percent risk weight to preferred stock issued by a GSE. (d) Exposures to depository institutions, foreign banks, and credit unions--(1) Exposures to U.S. depository institutions and credit unions. A Board-regulated institution must assign a 20 percent risk weight to an exposure to a depository institution or credit union that is organized under the laws of the United States or any state thereof, except as otherwise provided under paragraph (d)(3) of this section. (2) Exposures to foreign banks. (i) Except as otherwise provided under paragraphs (d)(2)(iii), (d)(2)(v), and (d)(3) of this section, a Board-regulated institution must assign a risk weight to an exposure to a foreign bank, in accordance with Table 2 to Sec. 217.32, based on the CRC that corresponds to the foreign bank's home country or the OECD membership status of the foreign bank's home country if there is no CRC applicable to the foreign bank's home country. Table 2 to Sec. 217.32--Risk Weights for Exposures to Foreign Banks ------------------------------------------------------------------------ Risk weight (in percent) ------------------------------------------------------------------------ CRC: 0-1................................................... 20 2..................................................... 50 3..................................................... 100 4-7................................................... 150 OECD Member with No CRC................................. 20 Non-OECD Member with No CRC............................. 100 Sovereign Default....................................... 150 ------------------------------------------------------------------------ (ii) A Board-regulated institution must assign a 20 percent risk weight to an exposure to a foreign bank whose home country is a member of the OECD and does not have a CRC. (iii) A Board-regulated institution must assign a 20 percent risk- weight to an exposure that is a self-liquidating, trade-related contingent item that arises from the movement of goods and that has a maturity of three months or less to a foreign bank whose home country has a CRC of 0, 1, 2, or 3, or is an OECD member with no CRC. (iv) A Board-regulated institution must assign a 100 percent risk weight to an exposure to a foreign bank whose home country is not a member of the OECD and does not have a CRC, with [[Page 471]] the exception of self-liquidating, trade-related contingent items that arise from the movement of goods, and that have a maturity of three months or less, which may be assigned a 20 percent risk weight. (v) A Board-regulated institution must assign a 150 percent risk weight to an exposure to a foreign bank immediately upon determining that an event of sovereign default has occurred in the bank's home country, or if an event of sovereign default has occurred in the foreign bank's home country during the previous five years. (3) A Board-regulated institution must assign a 100 percent risk weight to an exposure to a financial institution if the exposure may be included in that financial institution's capital unless the exposure is: (i) An equity exposure; (ii) A significant investment in the capital of an unconsolidated financial institution in the form of common stock pursuant to Sec. 217.22(d)(2)(i)(c); (iii) Deducted from regulatory capital under Sec. 217.22; or (iv) Subject to a 150 percent risk weight under paragraph (d)(2)(iv) or Table 2 of paragraph (d)(2) of this section. (e) Exposures to public sector entities (PSEs)--(1) Exposures to U.S. PSEs. (i) A Board-regulated institution must assign a 20 percent risk weight to a general obligation exposure to a PSE that is organized under the laws of the United States or any state or political subdivision thereof. (ii) A Board-regulated institution must assign a 50 percent risk weight to a revenue obligation exposure to a PSE that is organized under the laws of the United States or any state or political subdivision thereof. (2) Exposures to foreign PSEs. (i) Except as provided in paragraphs (e)(1) and (e)(3) of this section, a Board-regulated institution must assign a risk weight to a general obligation exposure to a PSE, in accordance with Table 3 to Sec. 217.32, based on the CRC that corresponds to the PSE's home country or the OECD membership status of the PSE's home country if there is no CRC applicable to the PSE's home country. (ii) Except as provided in paragraphs (e)(1) and (e)(3) of this section, a Board-regulated institution must assign a risk weight to a revenue obligation exposure to a PSE, in accordance with Table 4 to Sec. 217.32, based on the CRC that corresponds to the PSE's home country; or the OECD membership status of the PSE's home country if there is no CRC applicable to the PSE's home country. (3) A Board-regulated institution may assign a lower risk weight than would otherwise apply under Tables 3 or 4 to Sec. 217.32 to an exposure to a foreign PSE if: (i) The PSE's home country supervisor allows banks under its jurisdiction to assign a lower risk weight to such exposures; and (ii) The risk weight is not lower than the risk weight that corresponds to the PSE's home country in accordance with Table 1 to Sec. 217.32. Table 3 to Sec. 217.32--Risk Weights for Non-U.S. PSE General Obligations ------------------------------------------------------------------------ Risk weight (in percent) ------------------------------------------------------------------------ CRC: 0-1................................................... 20 2..................................................... 50 3..................................................... 100 4-7................................................... 150 OECD Member with No CRC................................. 20 Non-OECD Member with No CRC............................. 100 Sovereign Default....................................... 150 ------------------------------------------------------------------------ Table 4 to Sec. 217.32--Risk Weights for Non-U.S. PSE Revenue Obligations ------------------------------------------------------------------------ Risk weight (in percent) ------------------------------------------------------------------------ CRC: 0-1................................................... 50 2-3................................................... 100 4-7................................................... 150 OECD Member with No CRC................................. 50 Non-OECD Member with No CRC............................. 100 Sovereign Default....................................... 150 ------------------------------------------------------------------------ (4) Exposures to PSEs from an OECD member sovereign with no CRC. (i) A Board-regulated institution must assign a 20 percent risk weight to a general obligation exposure to a PSE whose home country is an OECD member sovereign with no CRC. (ii) A Board-regulated institution must assign a 50 percent risk weight to a revenue obligation exposure to a PSE whose home country is an OECD member sovereign with no CRC. [[Page 472]] (5) Exposures to PSEs whose home country is not an OECD member sovereign with no CRC. A Board-regulated institution must assign a 100 percent risk weight to an exposure to a PSE whose home country is not a member of the OECD and does not have a CRC. (6) A Board-regulated institution must assign a 150 percent risk weight to a PSE exposure immediately upon determining that an event of sovereign default has occurred in a PSE's home country or if an event of sovereign default has occurred in the PSE's home country during the previous five years. (f) Corporate exposures. (1) A Board-regulated institution must assign a 100 percent risk weight to all its corporate exposures, except as provided in paragraphs (f)(2) and (f)(3) of this section. (2) A Board-regulated institution must assign a 2 percent risk weight to an exposure to a QCCP arising from the Board-regulated institution posting cash collateral to the QCCP in connection with a cleared transaction that meets the requirements of Sec. 217.35(b)(3)(i)(A) and a 4 percent risk weight to an exposure to a QCCP arising from the Board-regulated institution posting cash collateral to the QCCP in connection with a cleared transaction that meets the requirements of Sec. 217.35(b)(3)(i)(B). (3) A Board-regulated institution must assign a 2 percent risk weight to an exposure to a QCCP arising from the Board-regulated institution posting cash collateral to the QCCP in connection with a cleared transaction that meets the requirements of Sec. 217.35(c)(3)(i). (g) Residential mortgage exposures. (1) A Board-regulated institution must assign a 50 percent risk weight to a first-lien residential mortgage exposure that: (i) Is secured by a property that is either owner-occupied or rented; (ii) Is made in accordance with prudent underwriting standards, including relating to the loan amount as a percent of the appraised value of the property; A Board-regulated institution must base all estimates of a property's value on an appraisal or evaluation of the property that satisfies subpart E of 12 CFR part 208. (iii) Is not 90 days or more past due or carried in nonaccrual status; and (iv) Is not restructured or modified. (2) A Board-regulated institution must assign a 100 percent risk weight to a first-lien residential mortgage exposure that does not meet the criteria in paragraph (g)(1) of this section, and to junior-lien residential mortgage exposures. (3) For the purpose of this paragraph (g), if a Board-regulated institution holds the first-lien and junior-lien(s) residential mortgage exposures, and no other party holds an intervening lien, the Board- regulated institution must combine the exposures and treat them as a single first-lien residential mortgage exposure. (4) A loan modified or restructured solely pursuant to the U.S. Treasury's Home Affordable Mortgage Program is not modified or restructured for purposes of this section. (h) Pre-sold construction loans. A Board-regulated institution must assign a 50 percent risk weight to a pre-sold construction loan unless the purchase contract is cancelled, in which case a Board-regulated institution must assign a 100 percent risk weight. (i) Statutory multifamily mortgages. A Board-regulated institution must assign a 50 percent risk weight to a statutory multifamily mortgage. (j) High-volatility commercial real estate (HVCRE) exposures. A Board-regulated institution must assign a 150 percent risk weight to an HVCRE exposure. (k) Past due exposures. Except for an exposure to a sovereign entity or a residential mortgage exposure or a policy loan, if an exposure is 90 days or more past due or on nonaccrual: (1) A Board-regulated institution must assign a 150 percent risk weight to the portion of the exposure that is not guaranteed or that is unsecured; (2) A Board-regulated institution may assign a risk weight to the guaranteed portion of a past due exposure based on the risk weight that applies under Sec. 217.36 if the guarantee or credit derivative meets the requirements of that section; and (3) A Board-regulated institution may assign a risk weight to the collateralized portion of a past due exposure based on the risk weight that [[Page 473]] applies under Sec. 217.37 if the collateral meets the requirements of that section. (l) Other assets. (1)(i) A bank holding company or savings and loan holding company must assign a zero percent risk weight to cash owned and held in all offices of subsidiary depository institutions or in transit, and to gold bullion held in a subsidiary depository institution's own vaults, or held in another depository institution's vaults on an allocated basis, to the extent the gold bullion assets are offset by gold bullion liabilities. (ii) A state member bank must assign a zero percent risk weight to cash owned and held in all offices of the state member bank or in transit; to gold bullion held in the state member bank's own vaults or held in another depository institution's vaults on an allocated basis, to the extent the gold bullion assets are offset by gold bullion liabilities; and to exposures that arise from the settlement of cash transactions (such as equities, fixed income, spot foreign exchange and spot commodities) with a central counterparty where there is no assumption of ongoing counterparty credit risk by the central counterparty after settlement of the trade and associated default fund contributions. (2) A Board-regulated institution must assign a 20 percent risk weight to cash items in the process of collection. (3) A Board-regulated institution must assign a 100 percent risk weight to DTAs arising from temporary differences that the Board- regulated institution could realize through net operating loss carrybacks. (4) A Board-regulated institution must assign a 250 percent risk weight to the portion of each of the following items to the extent it is not deducted from common equity tier 1 capital pursuant to Sec. 217.22(d): (i) MSAs; and (ii) DTAs arising from temporary differences that the Board- regulated institution could not realize through net operating loss carrybacks. (5) A Board-regulated institution must assign a 100 percent risk weight to all assets not specifically assigned a different risk weight under this subpart and that are not deducted from tier 1 or tier 2 capital pursuant to Sec. 217.22. (6) Notwithstanding the requirements of this section, a state member bank may assign an asset that is not included in one of the categories provided in this section to the risk weight category applicable under the capital rules applicable to bank holding companies and savings and loan holding companies under this part, provided that all of the following conditions apply: (i) The Board-regulated institution is not authorized to hold the asset under applicable law other than debt previously contracted or similar authority; and (ii) The risks associated with the asset are substantially similar to the risks of assets that are otherwise assigned to a risk weight category of less than 100 percent under this subpart. (m) Insurance assets--(1) Assets held in a separate account. (i) A bank holding company or savings and loan holding company must risk- weight the individual assets held in a separate account that does not qualify as a non-guaranteed separate account as if the individual assets were held directly by the bank holding company or savings and loan holding company. (ii) A bank holding company or savings and loan holding company must assign a zero percent risk weight to an asset that is held in a non- guaranteed separate account. (2) Policy loans. A bank holding company or savings and loan holding company must assign a 20 percent risk weight to a policy loan. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62287, Oct. 11, 2013; 84 FR 35264, July 22, 2019; 85 FR 4417, Jan. 24, 2020; 85 FR 20393, Apr. 13, 2020; 85 FR 57961, Sept. 17, 2020] Sec. 217.33 Off-balance sheet exposures. (a) General. (1) A Board-regulated institution must calculate the exposure amount of an off-balance sheet exposure using the credit conversion factors (CCFs) in paragraph (b) of this section. (2) Where a Board-regulated institution commits to provide a commitment, the Board-regulated institution may apply the lower of the two applicable CCFs. [[Page 474]] (3) Where a Board-regulated institution provides a commitment structured as a syndication or participation, the Board-regulated institution is only required to calculate the exposure amount for its pro rata share of the commitment. (4) Where a Board-regulated institution provides a commitment, enters into a repurchase agreement, or provides a credit-enhancing representation and warranty, and such commitment, repurchase agreement, or credit-enhancing representation and warranty is not a securitization exposure, the exposure amount shall be no greater than the maximum contractual amount of the commitment, repurchase agreement, or credit- enhancing representation and warranty, as applicable. (b) Credit conversion factors--(1) Zero percent CCF. A Board- regulated institution must apply a zero percent CCF to the unused portion of a commitment that is unconditionally cancelable by the Board- regulated institution. (2) 20 percent CCF. A Board-regulated institution must apply a 20 percent CCF to the amount of: (i) Commitments with an original maturity of one year or less that are not unconditionally cancelable by the Board-regulated institution; and (ii) Self-liquidating, trade-related contingent items that arise from the movement of goods, with an original maturity of one year or less. (3) 50 percent CCF. A Board-regulated institution must apply a 50 percent CCF to the amount of: (i) Commitments with an original maturity of more than one year that are not unconditionally cancelable by the Board-regulated institution; and (ii) Transaction-related contingent items, including performance bonds, bid bonds, warranties, and performance standby letters of credit. (4) 100 percent CCF. A Board-regulated institution must apply a 100 percent CCF to the amount of the following off-balance-sheet items and other similar transactions: (i) Guarantees; (ii) Repurchase agreements (the off-balance sheet component of which equals the sum of the current fair values of all positions the Board- regulated institution has sold subject to repurchase); (iii) Credit-enhancing representations and warranties that are not securitization exposures; (iv) Off-balance sheet securities lending transactions (the off- balance sheet component of which equals the sum of the current fair values of all positions the Board-regulated institution has lent under the transaction); (v) Off-balance sheet securities borrowing transactions (the off- balance sheet component of which equals the sum of the current fair values of all non-cash positions the Board-regulated institution has posted as collateral under the transaction); (vi) Financial standby letters of credit; and (vii) Forward agreements. Sec. 217.34 Derivative contracts. (a) Exposure amount for derivative contracts--(1) Board-regulated institution that is not an advanced approaches Board-regulated institution. (i) A Board-regulated institution that is not an advanced approaches Board-regulated institution must use the current exposure methodology (CEM) described in paragraph (b) of this section to calculate the exposure amount for all its OTC derivative contracts, unless the Board-regulated institution makes the election provided in paragraph (a)(1)(ii) of this section. (ii) A Board-regulated institution that is not an advanced approaches Board-regulated institution may elect to calculate the exposure amount for all its OTC derivative contracts under the standardized approach for counterparty credit risk (SA-CCR) in Sec. 217.132(c) by notifying the Board, rather than calculating the exposure amount for all its derivative contracts using CEM. A Board-regulated institution that elects under this paragraph (a)(1)(ii) to calculate the exposure amount for its OTC derivative contracts under SA-CCR must apply the treatment of cleared transactions under Sec. 217.133 to its derivative contracts that are cleared transactions and to all default fund contributions associated with such derivative contracts, rather than applying Sec. 217.35. A Board-regulated institution that is not [[Page 475]] an advanced approaches Board-regulated institution must use the same methodology to calculate the exposure amount for all its derivative contracts and, if a Board-regulated institution has elected to use SA- CCR under this paragraph (a)(1)(ii), the Board-regulated institution may change its election only with prior approval of the Board. (2) Advanced approaches Board-regulated institution. An advanced approaches Board-regulated institution must calculate the exposure amount for all its derivative contracts using SA-CCR in Sec. 217.132(c) for purposes of standardized total risk-weighted assets. An advanced approaches Board-regulated institution must apply the treatment of cleared transactions under Sec. 217.133 to its derivative contracts that are cleared transactions and to all default fund contributions associated with such derivative contracts for purposes of standardized total risk-weighted assets. (b) Current exposure methodology exposure amount--(1) Single OTC derivative contract. Except as modified by paragraph (c) of this section, the exposure amount for a single OTC derivative contract that is not subject to a qualifying master netting agreement is equal to the sum of the Board-regulated institution's current credit exposure and potential future credit exposure (PFE) on the OTC derivative contract. (i) Current credit exposure. The current credit exposure for a single OTC derivative contract is the greater of the fair value of the OTC derivative contract or zero. (ii) PFE. (A) The PFE for a single OTC derivative contract, including an OTC derivative contract with a negative fair value, is calculated by multiplying the notional principal amount of the OTC derivative contract by the appropriate conversion factor in Table 1 to this section. (B) For purposes of calculating either the PFE under this paragraph (b)(1)(ii) or the gross PFE under paragraph (b)(2)(ii)(A) of this section for exchange rate contracts and other similar contracts in which the notional principal amount is equivalent to the cash flows, notional principal amount is the net receipts to each party falling due on each value date in each currency. (C) For an OTC derivative contract that does not fall within one of the specified categories in Table 1 to this section, the PFE must be calculated using the appropriate ``other'' conversion factor. (D) A Board-regulated institution must use an OTC derivative contract's effective notional principal amount (that is, the apparent or stated notional principal amount multiplied by any multiplier in the OTC derivative contract) rather than the apparent or stated notional principal amount in calculating PFE. (E) The PFE of the protection provider of a credit derivative is capped at the net present value of the amount of unpaid premiums. Table 1 to Sec. 217.34--Conversion Factor Matrix for Derivative Contracts \1\ -------------------------------------------------------------------------------------------------------------------------------------------------------- Credit Interest Foreign (investment Credit (non- Precious Remaining maturity \2\ rate exchange rate grade reference investment-grade Equity metals (except Other and gold asset) \3\ reference asset) gold) -------------------------------------------------------------------------------------------------------------------------------------------------------- One year or less......................................... 0.00 0.01 0.05 0.10 0.06 0.07 0.10 Greater than one year and less than or equal to five 0.005 0.05 0.05 0.10 0.08 0.07 0.12 years................................................... Greater than five years.................................. 0.015 0.075 0.05 0.10 0.10 0.08 0.15 -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ For a derivative contract with multiple exchanges of principal, the conversion factor is multiplied by the number of remaining payments in the derivative contract. \2\ For an OTC derivative contract that is structured such that on specified dates any outstanding exposure is settled and the terms are reset so that the fair value of the contract is zero, the remaining maturity equals the time until the next reset date. For an interest rate derivative contract with a remaining maturity of greater than one year that meets these criteria, the minimum conversion factor is 0.005. \3\ A Board-regulated institution must use the column labeled ``Credit (investment-grade reference asset)'' for a credit derivative whose reference asset is an outstanding unsecured long-term debt security without credit enhancement that is investment grade. A Board-regulated institution must use the column labeled ``Credit (non-investment-grade reference asset)'' for all other credit derivatives. [[Page 476]] (2) Multiple OTC derivative contracts subject to a qualifying master netting agreement. Except as modified by paragraph (c) of this section, the exposure amount for multiple OTC derivative contracts subject to a qualifying master netting agreement is equal to the sum of the net current credit exposure and the adjusted sum of the PFE amounts for all OTC derivative contracts subject to the qualifying master netting agreement. (i) Net current credit exposure. The net current credit exposure is the greater of the net sum of all positive and negative fair values of the individual OTC derivative contracts subject to the qualifying master netting agreement or zero. (ii) Adjusted sum of the PFE amounts. The adjusted sum of the PFE amounts, Anet, is calculated as Anet = (0.4 x Agross) + (0.6 x NGR x Agross), where: (A) Agross = the gross PFE (that is, the sum of the PFE amounts as determined under paragraph (b)(1)(ii) of this section for each individual derivative contract subject to the qualifying master netting agreement); and (B) Net-to-gross Ratio (NGR) = the ratio of the net current credit exposure to the gross current credit exposure. In calculating the NGR, the gross current credit exposure equals the sum of the positive current credit exposures (as determined under paragraph (b)(1)(i) of this section) of all individual derivative contracts subject to the qualifying master netting agreement. (c) Recognition of credit risk mitigation of collateralized OTC derivative contracts. (1) A Board-regulated institution using CEM under paragraph (b) of this section may recognize the credit risk mitigation benefits of financial collateral that secures an OTC derivative contract or multiple OTC derivative contracts subject to a qualifying master netting agreement (netting set) by using the simple approach in Sec. 217.37(b). (2) As an alternative to the simple approach, a Board-regulated institution using CEM under paragraph (b) of this section may recognize the credit risk mitigation benefits of financial collateral that secures such a contract or netting set if the financial collateral is marked-to- fair value on a daily basis and subject to a daily margin maintenance requirement by applying a risk weight to the uncollateralized portion of the exposure, after adjusting the exposure amount calculated under paragraph (b)(1) or (2) of this section using the collateral haircut approach in Sec. 217.37(c). The Board-regulated institution must substitute the exposure amount calculated under paragraph (b)(1) or (2) of this section for [Sigma]E in the equation in Sec. 217.37(c)(2). (d) Counterparty credit risk for credit derivatives--(1) Protection purchasers. A Board-regulated institution that purchases a credit derivative that is recognized under Sec. 217.36 as a credit risk mitigant for an exposure that is not a covered position under subpart F of this part is not required to compute a separate counterparty credit risk capital requirement under this subpart provided that the Board- regulated institution does so consistently for all such credit derivatives. The Board-regulated institution must either include all or exclude all such credit derivatives that are subject to a qualifying master netting agreement from any measure used to determine counterparty credit risk exposure to all relevant counterparties for risk-based capital purposes. (2) Protection providers. (i) A Board-regulated institution that is the protection provider under a credit derivative must treat the credit derivative as an exposure to the underlying reference asset. The Board- regulated institution is not required to compute a counterparty credit risk capital requirement for the credit derivative under this subpart, provided that this treatment is applied consistently for all such credit derivatives. The Board-regulated institution must either include all or exclude all such credit derivatives that are subject to a qualifying master netting agreement from any measure used to determine counterparty credit risk exposure. (ii) The provisions of this paragraph (d)(2) apply to all relevant counterparties for risk-based capital purposes unless the Board- regulated institution is treating the credit derivative as a covered position under subpart F of this part, in which case the Board-regulated [[Page 477]] institution must compute a supplemental counterparty credit risk capital requirement under this section. (e) Counterparty credit risk for equity derivatives. (1) A Board- regulated institution must treat an equity derivative contract as an equity exposure and compute a risk-weighted asset amount for the equity derivative contract under Sec. Sec. 217.51 through 217.53 (unless the Board-regulated institution is treating the contract as a covered position under subpart F of this part). (2) In addition, the Board-regulated institution must also calculate a risk-based capital requirement for the counterparty credit risk of an equity derivative contract under this section if the Board-regulated institution is treating the contract as a covered position under subpart F of this part. (3) If the Board-regulated institution risk weights the contract under the Simple Risk-Weight Approach (SRWA) in Sec. 217.52, the Board- regulated institution may choose not to hold risk-based capital against the counterparty credit risk of the equity derivative contract, as long as it does so for all such contracts. Where the equity derivative contracts are subject to a qualified master netting agreement, a Board- regulated institution using the SRWA must either include all or exclude all of the contracts from any measure used to determine counterparty credit risk exposure. (f) Clearing member Board-regulated institution's exposure amount. The exposure amount of a clearing member Board-regulated institution using CEM under paragraph (b) of this section for a client-facing derivative transaction or netting set of client-facing derivative transactions equals the exposure amount calculated according to paragraph (b)(1) or (2) of this section multiplied by the scaling factor the square root of \1/2\ (which equals 0.707107). If the Board-regulated institution determines that a longer period is appropriate, the Board- regulated institution must use a larger scaling factor to adjust for a longer holding period as follows: [GRAPHIC] [TIFF OMITTED] TR24JA20.024 Where H = the holding period greater than or equal to five days. Additionally, the Board may require the Board-regulated institution to set a longer holding period if the Board determines that a longer period is appropriate due to the nature, structure, or characteristics of the transaction or is commensurate with the risks associated with the transaction. [Reg. Q, 85 FR 4417, Jan. 24, 2020] Sec. 217.35 Cleared transactions. (a) General requirements--(1) Clearing member clients. A Board- regulated institution that is a clearing member client must use the methodologies described in paragraph (b) of this section to calculate risk-weighted assets for a cleared transaction. (2) Clearing members. A Board-regulated institution that is a clearing member must use the methodologies described in paragraph (c) of this section to calculate its risk-weighted assets for a cleared transaction and paragraph (d) of this section to calculate its risk- weighted assets for its default fund contribution to a CCP. (3) Alternate requirements. Notwithstanding any other provision of this section, an advanced approaches Board-regulated institution or a Board-regulated institution that is not an advanced approaches Board- regulated institution and that has elected to use SA-CCR under Sec. 217.34(a)(1) must apply Sec. 217.133 to its derivative contracts that are cleared transactions rather than this section. (b) Clearing member client Board-regulated institutions--(1) Risk- weighted assets for cleared transactions. (i) To determine the risk- weighted asset amount for a cleared transaction, a Board-regulated institution that is a clearing [[Page 478]] member client must multiply the trade exposure amount for the cleared transaction, calculated in accordance with paragraph (b)(2) of this section, by the risk weight appropriate for the cleared transaction, determined in accordance with paragraph (b)(3) of this section. (ii) A clearing member client Board-regulated institution's total risk-weighted assets for cleared transactions is the sum of the risk- weighted asset amounts for all its cleared transactions. (2) Trade exposure amount. (i) For a cleared transaction that is either a derivative contract or a netting set of derivative contracts, the trade exposure amount equals: (A) The exposure amount for the derivative contract or netting set of derivative contracts, calculated using the methodology used to calculate exposure amount for OTC derivative contracts under Sec. 217.34; plus (B) The fair value of the collateral posted by the clearing member client Board-regulated institution and held by the CCP, clearing member, or custodian in a manner that is not bankruptcy remote. (ii) For a cleared transaction that is a repo-style transaction or netting set of repo-style transactions, the trade exposure amount equals: (A) The exposure amount for the repo-style transaction calculated using the methodologies under Sec. 217.37(c); plus (B) The fair value of the collateral posted by the clearing member client Board-regulated institution and held by the CCP, clearing member, or custodian in a manner that is not bankruptcy remote. (3) Cleared transaction risk weights. (i) For a cleared transaction with a QCCP, a clearing member client Board-regulated institution must apply a risk weight of: (A) 2 percent if the collateral posted by the Board-regulated institution to the QCCP or clearing member is subject to an arrangement that prevents any losses to the clearing member client Board-regulated institution due to the joint default or a concurrent insolvency, liquidation, or receivership proceeding of the clearing member and any other clearing member clients of the clearing member; and the clearing member client Board-regulated institution has conducted sufficient legal review to conclude with a well-founded basis (and maintains sufficient written documentation of that legal review) that in the event of a legal challenge (including one resulting from an event of default or from liquidation, insolvency, or receivership proceedings) the relevant court and administrative authorities would find the arrangements to be legal, valid, binding and enforceable under the law of the relevant jurisdictions; or (B) 4 percent if the requirements of Sec. 217.35(b)(3)(A) are not met. (ii) For a cleared transaction with a CCP that is not a QCCP, a clearing member client Board-regulated institution must apply the risk weight appropriate for the CCP according to this subpart D. (4) Collateral. (i) Notwithstanding any other requirements in this section, collateral posted by a clearing member client Board-regulated institution that is held by a custodian (in its capacity as custodian) in a manner that is bankruptcy remote from the CCP, clearing member, and other clearing member clients of the clearing member, is not subject to a capital requirement under this section. (ii) A clearing member client Board-regulated institution must calculate a risk-weighted asset amount for any collateral provided to a CCP, clearing member, or custodian in connection with a cleared transaction in accordance with the requirements under this subpart D. (c) Clearing member Board-regulated institutions--(1) Risk-weighted assets for cleared transactions. (i) To determine the risk-weighted asset amount for a cleared transaction, a clearing member Board-regulated institution must multiply the trade exposure amount for the cleared transaction, calculated in accordance with paragraph (c)(2) of this section, by the risk weight appropriate for the cleared transaction, determined in accordance with paragraph (c)(3) of this section. (ii) A clearing member Board-regulated institution's total risk- weighted assets for cleared transactions is the sum of the risk-weighted asset [[Page 479]] amounts for all of its cleared transactions. (2) Trade exposure amount. A clearing member Board-regulated institution must calculate its trade exposure amount for a cleared transaction as follows: (i) For a cleared transaction that is either a derivative contract or a netting set of derivative contracts, the trade exposure amount equals: (A) The exposure amount for the derivative contract, calculated using the methodology to calculate exposure amount for OTC derivative contracts under Sec. 217.34; plus (B) The fair value of the collateral posted by the clearing member Board-regulated institution and held by the CCP in a manner that is not bankruptcy remote. (ii) For a cleared transaction that is a repo-style transaction or netting set of repo-style transactions, trade exposure amount equals: (A) The exposure amount for repo-style transactions calculated using methodologies under Sec. 217.37(c); plus (B) The fair value of the collateral posted by the clearing member Board-regulated institution and held by the CCP in a manner that is not bankruptcy remote. (3) Cleared transaction risk weight. (i) A clearing member Board- regulated institution must apply a risk weight of 2 percent to the trade exposure amount for a cleared transaction with a QCCP. (ii) For a cleared transaction with a CCP that is not a QCCP, a clearing member Board-regulated institution must apply the risk weight appropriate for the CCP according to this subpart D. (iii) Notwithstanding paragraphs (c)(3)(i) and (ii) of this section, a clearing member Board-regulated institution may apply a risk weight of zero percent to the trade exposure amount for a cleared transaction with a CCP where the clearing member Board-regulated institution is acting as a financial intermediary on behalf of a clearing member client, the transaction offsets another transaction that satisfies the requirements set forth in Sec. 217.3(a), and the clearing member Board-regulated institution is not obligated to reimburse the clearing member client in the event of the CCP default. (4) Collateral. (i) Notwithstanding any other requirement in this section, collateral posted by a clearing member Board-regulated institution that is held by a custodian in a manner that is bankruptcy remote from the CCP is not subject to a capital requirement under this section. (ii) A clearing member Board-regulated institution must calculate a risk-weighted asset amount for any collateral provided to a CCP, clearing member, or a custodian in connection with a cleared transaction in accordance with requirements under this subpart D. (d) Default fund contributions--(1) General requirement. A clearing member Board-regulated institution must determine the risk-weighted asset amount for a default fund contribution to a CCP at least quarterly, or more frequently if, in the opinion of the Board-regulated institution or the Board, there is a material change in the financial condition of the CCP. (2) Risk-weighted asset amount for default fund contributions to non-qualifying CCPs. A clearing member Board-regulated institution's risk-weighted asset amount for default fund contributions to CCPs that are not QCCPs equals the sum of such default fund contributions multiplied by 1,250 percent, or an amount determined by the Board, based on factors such as size, structure and membership characteristics of the CCP and riskiness of its transactions, in cases where such default fund contributions may be unlimited. (3) Risk-weighted asset amount for default fund contributions to QCCPs. A clearing member Board-regulated institution's risk-weighted asset amount for default fund contributions to QCCPs equals the sum of its capital requirement, KCM for each QCCP, as calculated under the methodology set forth in paragraphs (d)(3)(i) through (iii) of this section (Method 1), multiplied by 1,250 percent or in paragraphs (d)(3)(iv) of this section (Method 2). (i) Method 1. The hypothetical capital requirement of a QCCP (KCCP) equals: [[Page 480]] [GRAPHIC] [TIFF OMITTED] TR11OC13.058 Where: (A) EBRMi = the exposure amount for each transaction cleared through the QCCP by clearing member i, calculated in accordance with Sec. 217.34 for OTC derivative contracts and Sec. 217.37(c)(2) for repo-style transactions, provided that: (1) For purposes of this section, in calculating the exposure amount the Board-regulated institution may replace the formula provided in Sec. 217.34(a)(2)(ii) with the following: Anet = (0.15 x Agross) + (0.85 x NGR x Agross); and (2) For option derivative contracts that are cleared transactions, the PFE described in Sec. 217.34(a)(1)(ii) must be adjusted by multiplying the notional principal amount of the derivative contract by the appropriate conversion factor in Table 1 to Sec. 217.34 and the absolute value of the option's delta, that is, the ratio of the change in the value of the derivative contract to the corresponding change in the price of the underlying asset. (3) For repo-style transactions, when applying Sec. 217.37(c)(2), the Board-regulated institution must use the methodology in Sec. 217.37(c)(3); (B) VMi = any collateral posted by clearing member i to the QCCP that it is entitled to receive from the QCCP, but has not yet received, and any collateral that the QCCP has actually received from clearing member i; (C) IMi = the collateral posted as initial margin by clearing member i to the QCCP; (D) DFi = the funded portion of clearing member i's default fund contribution that will be applied to reduce the QCCP's loss upon a default by clearing member i; (E) RW = 20 percent, except when the Board has determined that a higher risk weight is more appropriate based on the specific characteristics of the QCCP and its clearing members; and (F) Where a QCCP has provided its KCCP, a Board-regulated institution must rely on such disclosed figure instead of calculating KCCP under this paragraph (d), unless the Board-regulated institution determines that a more conservative figure is appropriate based on the nature, structure, or characteristics of the QCCP. (ii) For a Board-regulated institution that is a clearing member of a QCCP with a default fund supported by funded commitments, KCM equals: [GRAPHIC] [TIFF OMITTED] TR11OC13.016 [[Page 481]] Subscripts 1 and 2 denote the clearing members with the two largest ANet values. For purposes of this paragraph (d), for derivatives ANet is defined in Sec. 217.34(a)(2)(ii) and for repo-style transactions, ANet means the exposure amount as defined in Sec. 217.37(c)(2) using the methodology in Sec. 217.37(c)(3); (B) N = the number of clearing members in the QCCP; (C) DFCCP = the QCCP's own funds and other financial resources that would be used to cover its losses before clearing members' default fund contributions are used to cover losses; (D) DFCM = funded default fund contributions from all clearing members and any other clearing member contributed financial resources that are available to absorb mutualized QCCP losses; (E) DF = DFCCP + DFCM (that is, the total funded default fund contribution); [[Page 482]] [GRAPHIC] [TIFF OMITTED] TR11OC13.017 Where: (1) DFi = the Board-regulated institution's unfunded commitment to the default fund; (2) DFCM = the total of all clearing members' unfunded commitment to the default fund; and (3) K*CM as defined in paragraph (d)(3)(ii) of this section. (B) For a Board-regulated institution that is a clearing member of a QCCP with a default fund supported by unfunded commitments and is unable to calculate KCM using the methodology described in paragraph (d)(3)(iii) of this section, KCM equals: [[Page 483]] [GRAPHIC] [TIFF OMITTED] TR11OC13.018 Where: (1) IMi = the Board-regulated institution's initial margin posted to the QCCP; (2) IMCM = the total of initial margin posted to the QCCP; and (3)K*CM as defined in paragraph (d)(3)(ii) of this section. (iv) Method 2. A clearing member Board-regulated institution's risk- weighted asset amount for its default fund contribution to a QCCP, RWADF, equals: RWADF = Min {12.5 * DF; 0.18 * TE{time} Where: (A) TE = the Board-regulated institution's trade exposure amount to the QCCP, calculated according to section 35(c)(2); (B) DF = the funded portion of the Board-regulated institution's default fund contribution to the QCCP. (4) Total risk-weighted assets for default fund contributions. Total risk-weighted assets for default fund contributions is the sum of a clearing member Board-regulated institution's risk-weighted assets for all of its default fund contributions to all CCPs of which the Board- regulated institution is a clearing member. [Reg. Q, 78 FR 62157, Oct. 11, 2013, as amended at 84 FR 35266, July 22, 2019; 85 FR 4419, Jan. 24, 2020] Sec. 217.36 Guarantees and credit derivatives: substitution treatment. (a) Scope--(1) General. A Board-regulated institution may recognize the credit risk mitigation benefits of an eligible guarantee or eligible credit derivative by substituting the risk weight associated with the protection provider for the risk weight assigned to an exposure, as provided under this section. (2) This section applies to exposures for which: (i) Credit risk is fully covered by an eligible guarantee or eligible credit derivative; or (ii) Credit risk is covered on a pro rata basis (that is, on a basis in which the Board-regulated institution and the protection provider share losses proportionately) by an eligible guarantee or eligible credit derivative. (3) Exposures on which there is a tranching of credit risk (reflecting at least two different levels of seniority) generally are securitization exposures subject to Sec. Sec. 217.41 through 217.45. (4) If multiple eligible guarantees or eligible credit derivatives cover a single exposure described in this section, a Board-regulated institution may treat the hedged exposure as multiple separate exposures each covered by a single eligible guarantee or eligible credit derivative and may calculate a separate risk-weighted asset amount for each separate exposure as described in paragraph (c) of this section. (5) If a single eligible guarantee or eligible credit derivative covers multiple hedged exposures described in paragraph (a)(2) of this section, a Board-regulated institution must treat each hedged exposure as covered by a separate eligible guarantee or eligible credit derivative and must calculate a separate risk-weighted asset amount for each exposure as described in paragraph (c) of this section. (b) Rules of recognition. (1) A Board-regulated institution may only recognize the credit risk mitigation benefits of eligible guarantees and eligible credit derivatives. (2) A Board-regulated institution may only recognize the credit risk mitigation benefits of an eligible credit derivative to hedge an exposure that is different from the credit derivative's reference exposure used for determining the derivative's cash settlement value, deliverable obligation, or occurrence of a credit event if: (i) The reference exposure ranks pari passu with, or is subordinated to, the hedged exposure; and (ii) The reference exposure and the hedged exposure are to the same legal entity, and legally enforceable cross- [[Page 484]] default or cross-acceleration clauses are in place to ensure payments under the credit derivative are triggered when the obligated party of the hedged exposure fails to pay under the terms of the hedged exposure. (c) Substitution approach--(1) Full coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is greater than or equal to the exposure amount of the hedged exposure, a Board-regulated institution may recognize the guarantee or credit derivative in determining the risk-weighted asset amount for the hedged exposure by substituting the risk weight applicable to the guarantor or credit derivative protection provider under this subpart D for the risk weight assigned to the exposure. (2) Partial coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is less than the exposure amount of the hedged exposure, the Board-regulated institution must treat the hedged exposure as two separate exposures (protected and unprotected) in order to recognize the credit risk mitigation benefit of the guarantee or credit derivative. (i) The Board-regulated institution may calculate the risk-weighted asset amount for the protected exposure under this subpart D, where the applicable risk weight is the risk weight applicable to the guarantor or credit derivative protection provider. (ii) The Board-regulated institution must calculate the risk- weighted asset amount for the unprotected exposure under this subpart D, where the applicable risk weight is that of the unprotected portion of the hedged exposure. (iii) The treatment provided in this section is applicable when the credit risk of an exposure is covered on a partial pro rata basis and may be applicable when an adjustment is made to the effective notional amount of the guarantee or credit derivative under paragraphs (d), (e), or (f) of this section. (d) Maturity mismatch adjustment. (1) A Board-regulated institution that recognizes an eligible guarantee or eligible credit derivative in determining the risk-weighted asset amount for a hedged exposure must adjust the effective notional amount of the credit risk mitigant to reflect any maturity mismatch between the hedged exposure and the credit risk mitigant. (2) A maturity mismatch occurs when the residual maturity of a credit risk mitigant is less than that of the hedged exposure(s). (3) The residual maturity of a hedged exposure is the longest possible remaining time before the obligated party of the hedged exposure is scheduled to fulfil its obligation on the hedged exposure. If a credit risk mitigant has embedded options that may reduce its term, the Board-regulated institution (protection purchaser) must use the shortest possible residual maturity for the credit risk mitigant. If a call is at the discretion of the protection provider, the residual maturity of the credit risk mitigant is at the first call date. If the call is at the discretion of the Board-regulated institution (protection purchaser), but the terms of the arrangement at origination of the credit risk mitigant contain a positive incentive for the Board- regulated institution to call the transaction before contractual maturity, the remaining time to the first call date is the residual maturity of the credit risk mitigant. (4) A credit risk mitigant with a maturity mismatch may be recognized only if its original maturity is greater than or equal to one year and its residual maturity is greater than three months. (5) When a maturity mismatch exists, the Board-regulated institution must apply the following adjustment to reduce the effective notional amount of the credit risk mitigant: Pm = E x (t-0.25)/(T-0.25), where: (i) Pm = effective notional amount of the credit risk mitigant, adjusted for maturity mismatch; (ii) E = effective notional amount of the credit risk mitigant; (iii) t = the lesser of T or the residual maturity of the credit risk mitigant, expressed in years; and [[Page 485]] (iv) T = the lesser of five or the residual maturity of the hedged exposure, expressed in years. (e) Adjustment for credit derivatives without restructuring as a credit event. If a Board-regulated institution recognizes an eligible credit derivative that does not include as a credit event a restructuring of the hedged exposure involving forgiveness or postponement of principal, interest, or fees that results in a credit loss event (that is, a charge-off, specific provision, or other similar debit to the profit and loss account), the Board-regulated institution must apply the following adjustment to reduce the effective notional amount of the credit derivative: Pr = Pm x 0.60, where: (1) Pr = effective notional amount of the credit risk mitigant, adjusted for lack of restructuring event (and maturity mismatch, if applicable); and (2) Pm = effective notional amount of the credit risk mitigant (adjusted for maturity mismatch, if applicable). (f) Currency mismatch adjustment. (1) If a Board-regulated institution recognizes an eligible guarantee or eligible credit derivative that is denominated in a currency different from that in which the hedged exposure is denominated, the Board-regulated institution must apply the following formula to the effective notional amount of the guarantee or credit derivative: Pc = Pr x (1- HFX), where: (i) Pc = effective notional amount of the credit risk mitigant, adjusted for currency mismatch (and maturity mismatch and lack of restructuring event, if applicable); (ii) Pr = effective notional amount of the credit risk mitigant (adjusted for maturity mismatch and lack of restructuring event, if applicable); and (iii) HFX = haircut appropriate for the currency mismatch between the credit risk mitigant and the hedged exposure. (2) A Board-regulated institution must set HFX equal to eight percent unless it qualifies for the use of and uses its own internal estimates of foreign exchange volatility based on a ten- business-day holding period. A Board-regulated institution qualifies for the use of its own internal estimates of foreign exchange volatility if it qualifies for the use of its own-estimates haircuts in Sec. 217.37(c)(4). (3) A Board-regulated institution must adjust HFX calculated in paragraph (f)(2) of this section upward if the Board- regulated institution revalues the guarantee or credit derivative less frequently than once every 10 business days using the following square root of time formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.021 [Reg. Q, 78 FR 62157, Oct. 11, 2013, as amended at 84 FR 35266, July 22, 2019] Sec. 217.37 Collateralized transactions. (a) General. (1) To recognize the risk-mitigating effects of financial collateral, a Board-regulated institution may use: (i) The simple approach in paragraph (b) of this section for any exposure; or (ii) The collateral haircut approach in paragraph (c) of this section for repo-style transactions, eligible margin loans, collateralized derivative contracts, and single-product netting sets of such transactions. (2) A Board-regulated institution may use any approach described in this section that is valid for a particular type of exposure or transaction; however, it must use the same approach for similar exposures or transactions. (b) The simple approach--(1) General requirements. (i) A Board- regulated institution may recognize the credit risk mitigation benefits of financial collateral that secures any exposure. [[Page 486]] (ii) To qualify for the simple approach, the financial collateral must meet the following requirements: (A) The collateral must be subject to a collateral agreement for at least the life of the exposure; (B) The collateral must be revalued at least every six months; and (C) The collateral (other than gold) and the exposure must be denominated in the same currency. (2) Risk weight substitution. (i) A Board-regulated institution may apply a risk weight to the portion of an exposure that is secured by the fair value of financial collateral (that meets the requirements of paragraph (b)(1) of this section) based on the risk weight assigned to the collateral under this subpart D. For repurchase agreements, reverse repurchase agreements, and securities lending and borrowing transactions, the collateral is the instruments, gold, and cash the Board-regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty under the transaction. Except as provided in paragraph (b)(3) of this section, the risk weight assigned to the collateralized portion of the exposure may not be less than 20 percent. (ii) A Board-regulated institution must apply a risk weight to the unsecured portion of the exposure based on the risk weight applicable to the exposure under this subpart. (3) Exceptions to the 20 percent risk-weight floor and other requirements. Notwithstanding paragraph (b)(2)(i) of this section: (i) A Board-regulated institution may assign a zero percent risk weight to an exposure to an OTC derivative contract that is marked-to- market on a daily basis and subject to a daily margin maintenance requirement, to the extent the contract is collateralized by cash on deposit. (ii) A Board-regulated institution may assign a 10 percent risk weight to an exposure to an OTC derivative contract that is marked-to- market daily and subject to a daily margin maintenance requirement, to the extent that the contract is collateralized by an exposure to a sovereign that qualifies for a zero percent risk weight under Sec. 217.32. (iii) A Board-regulated institution may assign a zero percent risk weight to the collateralized portion of an exposure where: (A) The financial collateral is cash on deposit; or (B) The financial collateral is an exposure to a sovereign that qualifies for a zero percent risk weight under Sec. 217.32, and the Board-regulated institution has discounted the fair value of the collateral by 20 percent. (c) Collateral haircut approach--(1) General. A Board-regulated institution may recognize the credit risk mitigation benefits of financial collateral that secures an eligible margin loan, repo-style transaction, collateralized derivative contract, or single-product netting set of such transactions, and of any collateral that secures a repo-style transaction that is included in the Board-regulated institution's VaR-based measure under subpart F of this part by using the collateral haircut approach in this section. A Board-regulated institution may use the standard supervisory haircuts in paragraph (c)(3) of this section or, with prior written approval of the Board, its own estimates of haircuts according to paragraph (c)(4) of this section. (2) Exposure amount equation. A Board-regulated institution must determine the exposure amount for an eligible margin loan, repo-style transaction, collateralized derivative contract, or a single-product netting set of such transactions by setting the exposure amount equal to max {0, [([Sigma]E - [Sigma]C) + [Sigma](Es x Hs) + [Sigma](Efx x Hfx)]{time} , where: (i)(A) For eligible margin loans and repo-style transactions and netting sets thereof, [Sigma]E equals the value of the exposure (the sum of the current fair values of all instruments, gold, and cash the Board- regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty under the transaction (or netting set)); and (B) For collateralized derivative contracts and netting sets thereof, [Sigma]E equals the exposure amount of the OTC derivative contract (or netting set) calculated under Sec. 217.34(b)(1) or (2). (ii) [Sigma]C equals the value of the collateral (the sum of the current fair values of all instruments, gold and cash the [[Page 487]] Board-regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty under the transaction (or netting set)); (iii) Es equals the absolute value of the net position in a given instrument or in gold (where the net position in the instrument or gold equals the sum of the current fair values of the instrument or gold the Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty minus the sum of the current fair values of that same instrument or gold the Board-regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty); (iv) Hs equals the market price volatility haircut appropriate to the instrument or gold referenced in Es; (v) Efx equals the absolute value of the net position of instruments and cash in a currency that is different from the settlement currency (where the net position in a given currency equals the sum of the current fair values of any instruments or cash in the currency the Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty minus the sum of the current fair values of any instruments or cash in the currency the Board- regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty); and (vi) Hfx equals the haircut appropriate to the mismatch between the currency referenced in Efx and the settlement currency. (3) Standard supervisory haircuts. (i) A Board-regulated institution must use the haircuts for market price volatility (Hs) provided in Table 1 to Sec. 217.37, as adjusted in certain circumstances in accordance with the requirements of paragraphs (c)(3)(iii) and (iv) of this section. Table 1 to Sec. 217.37--Standard Supervisory Market Price Volatility Haircuts \1\ ---------------------------------------------------------------------------------------------------------------- Haircut (in percent) assigned based on: ------------------------------------------------------------ Investment Sovereign issuers risk Non-sovereign issuers risk grade Residual maturity weight under Sec. 217.32 weight under Sec. 217.32 securitization (in percent) \2\ (in percent) exposures (in ------------------------------------------------------------ percent) Zero 20 or 50 100 20 50 100 ---------------------------------------------------------------------------------------------------------------- Less than or equal to 1 year........ 0.5 1.0 15.0 1.0 2.0 4.0 4.0 Greater than 1 year and less than or 2.0 3.0 15.0 4.0 6.0 8.0 12.0 equal to 5 years................... Greater than 5 years................ 4.0 6.0 15.0 8.0 12.0 16.0 24.0 ---------------------------------------------------------------------------------------------------------------- Main index equities (including convertible bonds) and g15.0....... ---------------------------------------------------------------------------------------------------------------- Other publicly traded equities (including convertible b25.0)...... ---------------------------------------------------------------------------------------------------------------- Mutual funds.............................Highest haircut applicable to any security in which the fund can invest. ---------------------------------------------------------------------------------------------------------------- Cash collateral held...................................Zero....... ---------------------------------------------------------------------------------------------------------------- Other exposure types...................................25.0....... ---------------------------------------------------------------------------------------------------------------- \1\ The market price volatility haircuts in Table 1 to Sec. 217.37 are based on a 10 business-day holding period. \2\ Includes a foreign PSE that receives a zero percent risk weight. (ii) For currency mismatches, a Board-regulated institution must use a haircut for foreign exchange rate volatility (Hfx) of 8.0 percent, as adjusted in certain circumstances under paragraphs (c)(3)(iii) and (iv) of this section. (iii) For repo-style transactions and client-facing derivative transactions, a Board-regulated institution may multiply the standard supervisory haircuts provided in paragraphs (c)(3)(i) and (ii) of this section by the square root of \1/2\ (which equals 0.707107). For client- facing derivative transactions, if a larger scaling factor is applied under Sec. 217.34(f), the same factor must be used to adjust the supervisory haircuts. (iv) If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must adjust the supervisory [[Page 488]] haircuts provided in paragraphs (c)(3)(i) and (ii) of this section upward on the basis of a holding period of twenty business days for the following quarter except in the calculation of the exposure amount for purposes of Sec. 217.35. If a netting set contains one or more trades involving illiquid collateral or an OTC derivative that cannot be easily replaced, a Board-regulated institution must adjust the supervisory haircuts upward on the basis of a holding period of twenty business days. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the holding period, then the Board-regulated institution must adjust the supervisory haircuts upward for that netting set on the basis of a holding period that is at least two times the minimum holding period for that netting set. A Board-regulated institution must adjust the standard supervisory haircuts upward using the following formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.022 (A) TM equals a holding period of longer than 10 business days for eligible margin loans and derivative contracts other than client-facing derivative transactions or longer than 5 business days for repo-style transactions and client-facing derivative transactions; (B) HS equals the standard supervisory haircut; and (C) TS equals 10 business days for eligible margin loans and derivative contracts other than client-facing derivative transactions or 5 business days for repo-style transactions and client- facing derivative transactions. (v) If the instrument a Board-regulated institution has lent, sold subject to repurchase, or posted as collateral does not meet the definition of financial collateral, the Board-regulated institution must use a 25.0 percent haircut for market price volatility (Hs). (4) Own internal estimates for haircuts. With the prior written approval of the Board, a Board-regulated institution may calculate haircuts (Hs and Hfx) using its own internal estimates of the volatilities of market prices and foreign exchange rates: (i) To receive Board approval to use its own internal estimates, a Board-regulated institution must satisfy the following minimum standards: (A) A Board-regulated institution must use a 99th percentile one- tailed confidence interval. (B) The minimum holding period for a repo-style transaction and client-facing derivative transaction is five business days and for an eligible margin loan and a derivative contract other than a client- facing derivative transaction is ten business days except for transactions or netting sets for which paragraph (c)(4)(i)(C) of this section applies. When a Board-regulated institution calculates an own- estimates haircut on a TN-day holding period, which is different from the minimum holding period for the transaction type, the applicable haircut (HM) is calculated using the following square root of time formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.023 (1) TM equals 5 for repo-style transactions and client- facing derivative transactions and 10 for eligible margin loans and derivative contracts other than client-facing derivative transactions; [[Page 489]] (2) TN equals the holding period used by the Board- regulated institution to derive HN; and (3) HN equals the haircut based on the holding period TN. (C) If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must calculate the haircut using a minimum holding period of twenty business days for the following quarter except in the calculation of the exposure amount for purposes of Sec. 217.35. If a netting set contains one or more trades involving illiquid collateral or an OTC derivative that cannot be easily replaced, a Board-regulated institution must calculate the haircut using a minimum holding period of twenty business days. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the holding period, then the Board- regulated institution must calculate the haircut for transactions in that netting set on the basis of a holding period that is at least two times the minimum holding period for that netting set. (D) A Board-regulated institution is required to calculate its own internal estimates with inputs calibrated to historical data from a continuous 12-month period that reflects a period of significant financial stress appropriate to the security or category of securities. (E) A Board-regulated institution must have policies and procedures that describe how it determines the period of significant financial stress used to calculate the Board-regulated institution's own internal estimates for haircuts under this section and must be able to provide empirical support for the period used. The Board-regulated institution must obtain the prior approval of the Board for, and notify the Board if the Board-regulated institution makes any material changes to, these policies and procedures. (F) Nothing in this section prevents the Board from requiring a Board-regulated institution to use a different period of significant financial stress in the calculation of own internal estimates for haircuts. (G) A Board-regulated institution must update its data sets and calculate haircuts no less frequently than quarterly and must also reassess data sets and haircuts whenever market prices change materially. (ii) With respect to debt securities that are investment grade, a Board-regulated institution may calculate haircuts for categories of securities. For a category of securities, the Board-regulated institution must calculate the haircut on the basis of internal volatility estimates for securities in that category that are representative of the securities in that category that the Board- regulated institution has lent, sold subject to repurchase, posted as collateral, borrowed, purchased subject to resale, or taken as collateral. In determining relevant categories, the Board-regulated institution must at a minimum take into account: (A) The type of issuer of the security; (B) The credit quality of the security; (C) The maturity of the security; and (D) The interest rate sensitivity of the security. (iii) With respect to debt securities that are not investment grade and equity securities, a Board-regulated institution must calculate a separate haircut for each individual security. (iv) Where an exposure or collateral (whether in the form of cash or securities) is denominated in a currency that differs from the settlement currency, the Board-regulated institution must calculate a separate currency mismatch haircut for its net position in each mismatched currency based on estimated volatilities of foreign exchange rates between the mismatched currency and the settlement currency. (v) A Board-regulated institution's own estimates of market price and foreign exchange rate volatilities may not take into account the correlations among securities and foreign exchange rates on either the exposure or collateral side of a transaction (or netting set) or the correlations among securities and foreign exchange rates between the exposure and collateral sides of the transaction (or netting set). [Reg. Q, 78 FR 62157, Oct. 11, 2013, as amended at 84 FR 35266, July 22, 2019; 85 FR 4419, Jan. 24, 2020; 85 FR 57961, Sept. 17, 2020] [[Page 490]] Risk-Weighted Assets for Unsettled Transactions Sec. 217.38 Unsettled transactions. (a) Definitions. For purposes of this section: (1) Delivery-versus-payment (DvP) transaction means a securities or commodities transaction in which the buyer is obligated to make payment only if the seller has made delivery of the securities or commodities and the seller is obligated to deliver the securities or commodities only if the buyer has made payment. (2) Payment-versus-payment (PvP) transaction means a foreign exchange transaction in which each counterparty is obligated to make a final transfer of one or more currencies only if the other counterparty has made a final transfer of one or more currencies. (3) A transaction has a normal settlement period if the contractual settlement period for the transaction is equal to or less than the market standard for the instrument underlying the transaction and equal to or less than five business days. (4) Positive current exposure of a Board-regulated institution for a transaction is the difference between the transaction value at the agreed settlement price and the current market price of the transaction, if the difference results in a credit exposure of the Board-regulated institution to the counterparty. (b) Scope. This section applies to all transactions involving securities, foreign exchange instruments, and commodities that have a risk of delayed settlement or delivery. This section does not apply to: (1) Cleared transactions that are marked-to-market daily and subject to daily receipt and payment of variation margin; (2) Repo-style transactions, including unsettled repo-style transactions; (3) One-way cash payments on OTC derivative contracts; or (4) Transactions with a contractual settlement period that is longer than the normal settlement period (which are treated as OTC derivative contracts as provided in Sec. 217.34). (c) System-wide failures. In the case of a system-wide failure of a settlement, clearing system or central counterparty, the Board may waive risk-based capital requirements for unsettled and failed transactions until the situation is rectified. (d) Delivery-versus-payment (DvP) and payment-versus-payment (PvP) transactions. A Board-regulated institution must hold risk-based capital against any DvP or PvP transaction with a normal settlement period if the Board-regulated institution's counterparty has not made delivery or payment within five business days after the settlement date. The Board- regulated institution must determine its risk-weighted asset amount for such a transaction by multiplying the positive current exposure of the transaction for the Board-regulated institution by the appropriate risk weight in Table 1 to Sec. 217.38. Table 1 to Sec. 217.38--Risk Weights for Unsettled DvP and PvP Transactions ------------------------------------------------------------------------ Risk weight to be applied to Number of business days after contractual settlement positive current date exposure (in percent) ------------------------------------------------------------------------ From 5 to 15.......................................... 100.0 From 16 to 30......................................... 625.0 From 31 to 45......................................... 937.5 46 or more............................................ 1,250.0 ------------------------------------------------------------------------ (e) Non-DvP/non-PvP (non-delivery-versus-payment/non-payment-versus- payment) transactions. (1) A Board-regulated institution must hold risk- based capital against any non-DvP/non-PvP transaction with a normal settlement period if the Board-regulated institution has delivered cash, securities, commodities, or currencies to its counterparty but has not received its corresponding deliverables by the end of the same business day. The Board-regulated institution must continue to hold risk-based capital against the transaction until the Board-regulated institution has received its corresponding deliverables. (2) From the business day after the Board-regulated institution has made its delivery until five business days after the counterparty delivery is due, the Board-regulated institution must calculate the risk-weighted asset [[Page 491]] amount for the transaction by treating the current fair value of the deliverables owed to the Board-regulated institution as an exposure to the counterparty and using the applicable counterparty risk weight under this subpart D. (3) If the Board-regulated institution has not received its deliverables by the fifth business day after counterparty delivery was due, the Board-regulated institution must assign a 1,250 percent risk weight to the current fair value of the deliverables owed to the Board- regulated institution. (f) Total risk-weighted assets for unsettled transactions. Total risk-weighted assets for unsettled transactions is the sum of the risk- weighted asset amounts of all DvP, PvP, and non-DvP/non-PvP transactions. [Reg. Q, 78 FR 62157, Oct. 11, 2013, as amended at 84 FR 35266, July 22, 2019] Sec. Sec. 217.39-217.40 [Reserved] Risk-Weighted Assets for Securitization Exposures Sec. 217.41 Operational requirements for securitization exposures. (a) Operational criteria for traditional securitizations. A Board- regulated institution that transfers exposures it has originated or purchased to a securitization SPE or other third party in connection with a traditional securitization may exclude the exposures from the calculation of its risk-weighted assets only if each condition in this section is satisfied. A Board-regulated institution that meets these conditions must hold risk-based capital against any credit risk it retains in connection with the securitization. A Board-regulated institution that fails to meet these conditions must hold risk-based capital against the transferred exposures as if they had not been securitized and must deduct from common equity tier 1 capital any after- tax gain-on-sale resulting from the transaction. The conditions are: (1) The exposures are not reported on the Board-regulated institution's consolidated balance sheet under GAAP; (2) The Board-regulated institution has transferred to one or more third parties credit risk associated with the underlying exposures; (3) Any clean-up calls relating to the securitization are eligible clean-up calls; and (4) The securitization does not: (i) Include one or more underlying exposures in which the borrower is permitted to vary the drawn amount within an agreed limit under a line of credit; and (ii) Contain an early amortization provision. (b) Operational criteria for synthetic securitizations. For synthetic securitizations, a Board-regulated institution may recognize for risk-based capital purposes the use of a credit risk mitigant to hedge underlying exposures only if each condition in this paragraph (b) is satisfied. A Board-regulated institution that meets these conditions must hold risk-based capital against any credit risk of the exposures it retains in connection with the synthetic securitization. A Board- regulated institution that fails to meet these conditions or chooses not to recognize the credit risk mitigant for purposes of this section must instead hold risk-based capital against the underlying exposures as if they had not been synthetically securitized. The conditions are: (1) The credit risk mitigant is: (i) Financial collateral; (ii) A guarantee that meets all criteria as set forth in the definition of ``eligible guarantee'' in Sec. 217.2, except for the criteria in paragraph (3) of that definition; or (iii) A credit derivative that meets all criteria as set forth in the definition of ``eligible credit derivative'' in Sec. 217.2, except for the criteria in paragraph (3) of the definition of ``eligible guarantee'' in Sec. 217.2. (2) The Board-regulated institution transfers credit risk associated with the underlying exposures to one or more third parties, and the terms and conditions in the credit risk mitigants employed do not include provisions that: (i) Allow for the termination of the credit protection due to deterioration in the credit quality of the underlying exposures; [[Page 492]] (ii) Require the Board-regulated institution to alter or replace the underlying exposures to improve the credit quality of the underlying exposures; (iii) Increase the Board-regulated institution's cost of credit protection in response to deterioration in the credit quality of the underlying exposures; (iv) Increase the yield payable to parties other than the Board- regulated institution in response to a deterioration in the credit quality of the underlying exposures; or (v) Provide for increases in a retained first loss position or credit enhancement provided by the Board-regulated institution after the inception of the securitization; (3) The Board-regulated institution obtains a well-reasoned opinion from legal counsel that confirms the enforceability of the credit risk mitigant in all relevant jurisdictions; and (4) Any clean-up calls relating to the securitization are eligible clean-up calls. (c) Due diligence requirements for securitization exposures. (1) Except for exposures that are deducted from common equity tier 1 capital and exposures subject to Sec. 217.42(h), if a Board-regulated institution is unable to demonstrate to the satisfaction of the Board a comprehensive understanding of the features of a securitization exposure that would materially affect the performance of the exposure, the Board- regulated institution must assign the securitization exposure a risk weight of 1,250 percent. The Board-regulated institution's analysis must be commensurate with the complexity of the securitization exposure and the materiality of the exposure in relation to its capital. (2) A Board-regulated institution must demonstrate its comprehensive understanding of a securitization exposure under paragraph (c)(1) of this section, for each securitization exposure by: (i) Conducting an analysis of the risk characteristics of a securitization exposure prior to acquiring the exposure, and documenting such analysis within three business days after acquiring the exposure, considering: (A) Structural features of the securitization that would materially impact the performance of the exposure, for example, the contractual cash flow waterfall, waterfall-related triggers, credit enhancements, liquidity enhancements, fair value triggers, the performance of organizations that service the exposure, and deal-specific definitions of default; (B) Relevant information regarding the performance of the underlying credit exposure(s), for example, the percentage of loans 30, 60, and 90 days past due; default rates; prepayment rates; loans in foreclosure; property types; occupancy; average credit score or other measures of creditworthiness; average LTV ratio; and industry and geographic diversification data on the underlying exposure(s); (C) Relevant market data of the securitization, for example, bid-ask spread, most recent sales price and historic price volatility, trading volume, implied market rating, and size, depth and concentration level of the market for the securitization; and (D) For resecuritization exposures, performance information on the underlying securitization exposures, for example, the issuer name and credit quality, and the characteristics and performance of the exposures underlying the securitization exposures; and (ii) On an on-going basis (no less frequently than quarterly), evaluating, reviewing, and updating as appropriate the analysis required under paragraph (c)(1) of this section for each securitization exposure. Sec. 217.42 Risk-weighted assets for securitization exposures. (a) Securitization risk weight approaches. Except as provided elsewhere in this section or in Sec. 217.41: (1) A Board-regulated institution must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from a securitization and apply a 1,250 percent risk weight to the portion of a CEIO that does not constitute after-tax gain-on-sale. (2) If a securitization exposure does not require deduction under paragraph (a)(1) of this section, a Board-regulated institution may assign a risk weight to the securitization exposure using the simplified supervisory formula approach (SSFA) in accordance with [[Page 493]] Sec. Sec. 217.43(a) through 217.43(d) and subject to the limitation under paragraph (e) of this section. Alternatively, a Board-regulated institution that is not subject to subpart F of this part may assign a risk weight to the securitization exposure using the gross-up approach in accordance with Sec. 217.43(e), provided, however, that such Board- regulated institution must apply either the SSFA or the gross-up approach consistently across all of its securitization exposures, except as provided in paragraphs (a)(1), (a)(3), and (a)(4) of this section. (3) If a securitization exposure does not require deduction under paragraph (a)(1) of this section and the Board-regulated institution cannot, or chooses not to apply the SSFA or the gross-up approach to the exposure, the Board-regulated institution must assign a risk weight to the exposure as described in Sec. 217.44. (4) If a securitization exposure is a derivative contract (other than protection provided by a Board-regulated institution in the form of a credit derivative) that has a first priority claim on the cash flows from the underlying exposures (notwithstanding amounts due under interest rate or currency derivative contracts, fees due, or other similar payments), a Board-regulated institution may choose to set the risk-weighted asset amount of the exposure equal to the amount of the exposure as determined in paragraph (c) of this section. (b) Total risk-weighted assets for securitization exposures. A Board-regulated institution's total risk-weighted assets for securitization exposures equals the sum of the risk-weighted asset amount for securitization exposures that the Board-regulated institution risk weights under Sec. Sec. 217.41(c), 217.42(a)(1), and 217.43, 217.44, or 217.45, and paragraphs (e) through (j) of this section, as applicable. (c) Exposure amount of a securitization exposure--(1) On-balance sheet securitization exposures. The exposure amount of an on-balance sheet securitization exposure (excluding an available-for-sale or held- to-maturity security where the Board-regulated institution has made an AOCI opt-out election under Sec. 217.22(b)(2), a repo-style transaction, eligible margin loan, OTC derivative contract, or cleared transaction) is equal to the carrying value of the exposure. (2) On-balance sheet securitization exposures held by a Board- regulated institution that has made an AOCI opt-out election. The exposure amount of an on-balance sheet securitization exposure that is an available-for-sale or held-to-maturity security held by a Board- regulated institution that has made an AOCI opt-out election under Sec. 217.22(b)(2) is the Board-regulated institution's carrying value (including net accrued but unpaid interest and fees), less any net unrealized gains on the exposure and plus any net unrealized losses on the exposure. (3) Off-balance sheet securitization exposures. (i) Except as provided in paragraph (j) of this section, the exposure amount of an off-balance sheet securitization exposure that is not a repo-style transaction, eligible margin loan, cleared transaction (other than a credit derivative), or an OTC derivative contract (other than a credit derivative) is the notional amount of the exposure. For an off-balance sheet securitization exposure to an ABCP program, such as an eligible ABCP liquidity facility, the notional amount may be reduced to the maximum potential amount that the Board-regulated institution could be required to fund given the ABCP program's current underlying assets (calculated without regard to the current credit quality of those assets). (ii) A Board-regulated institution must determine the exposure amount of an eligible ABCP liquidity facility for which the SSFA does not apply by multiplying the notional amount of the exposure by a CCF of 50 percent. (iii) A Board-regulated institution must determine the exposure amount of an eligible ABCP liquidity facility for which the SSFA applies by multiplying the notional amount of the exposure by a CCF of 100 percent. (4) Repo-style transactions, eligible margin loans, and derivative contracts. The exposure amount of a securitization exposure that is a repo-style transaction, eligible margin loan, or derivative contract (other than a credit derivative) is the exposure amount of the transaction [[Page 494]] as calculated under Sec. 217.34 or Sec. 217.37, as applicable. (d) Overlapping exposures. If a Board-regulated institution has multiple securitization exposures that provide duplicative coverage to the underlying exposures of a securitization (such as when a Board- regulated institution provides a program-wide credit enhancement and multiple pool-specific liquidity facilities to an ABCP program), the Board-regulated institution is not required to hold duplicative risk- based capital against the overlapping position. Instead, the Board- regulated institution may apply to the overlapping position the applicable risk-based capital treatment that results in the highest risk-based capital requirement. (e) Implicit support. If a Board-regulated institution provides support to a securitization in excess of the Board-regulated institution's contractual obligation to provide credit support to the securitization (implicit support): (1) The Board-regulated institution must include in risk-weighted assets all of the underlying exposures associated with the securitization as if the exposures had not been securitized and must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from the securitization; and (2) The Board-regulated institution must disclose publicly: (i) That it has provided implicit support to the securitization; and (ii) The risk-based capital impact to the Board-regulated institution of providing such implicit support. (f) Undrawn portion of a servicer cash advance facility. (1) Notwithstanding any other provision of this subpart, a Board-regulated institution that is a servicer under an eligible servicer cash advance facility is not required to hold risk-based capital against potential future cash advance payments that it may be required to provide under the contract governing the facility. (2) For a Board-regulated institution that acts as a servicer, the exposure amount for a servicer cash advance facility that is not an eligible servicer cash advance facility is equal to the amount of all potential future cash advance payments that the Board-regulated institution may be contractually required to provide during the subsequent 12 month period under the contract governing the facility. (g) Interest-only mortgage-backed securities. Regardless of any other provisions in this subpart, the risk weight for a non-credit- enhancing interest-only mortgage-backed security may not be less than 100 percent. (h) Small-business loans and leases on personal property transferred with retained contractual exposure. (1) Regardless of any other provision of this subpart, a Board-regulated institution that has transferred small-business loans and leases on personal property (small- business obligations) with recourse must include in risk-weighted assets only its contractual exposure to the small-business obligations if all the following conditions are met: (i) The transaction must be treated as a sale under GAAP. (ii) The Board-regulated institution establishes and maintains, pursuant to GAAP, a non-capital reserve sufficient to meet the Board- regulated institution's reasonably estimated liability under the contractual obligation. (iii) The small-business obligations are to businesses that meet the criteria for a small-business concern established by the Small Business Administration under section 3(a) of the Small Business Act (15 U.S.C. 632 et seq.). (iv)(A) In the case of a state member bank, the bank is well capitalized, as defined in 12 CFR 208.43. For purposes of determining whether a state member bank is well capitalized for purposes of this paragraph (h), the state member bank's capital ratios must be calculated without regard to the capital treatment for transfers of small-business obligations under this paragraph (h). (B) In the case of a bank holding company or savings and loan holding company, the bank holding company or savings and loan holding company is well capitalized, as defined in 12 CFR 225.2. For purposes of determining whether a bank holding company or savings and loan holding company is well capitalized for purposes of this paragraph (h), the bank holding company or savings and loan holding company's capital ratios must be calculated without regard to the capital [[Page 495]] treatment for transfers of small-business obligations with recourse specified in paragraph (k)(1) of this section. (2) The total outstanding amount of contractual exposure retained by a Board-regulated institution on transfers of small-business obligations receiving the capital treatment specified in paragraph (h)(1) of this section cannot exceed 15 percent of the Board-regulated institution's total capital. (3) If a Board-regulated institution ceases to be well capitalized under 12 CFR 208.43 or exceeds the 15 percent capital limitation provided in paragraph (h)(2) of this section, the capital treatment under paragraph (h)(1) of this section will continue to apply to any transfers of small-business obligations with retained contractual exposure that occurred during the time that the Board-regulated institution was well capitalized and did not exceed the capital limit. (4) The risk-based capital ratios of the Board-regulated institution must be calculated without regard to the capital treatment for transfers of small-business obligations specified in paragraph (h)(1) of this section for purposes of: (i) Determining whether a Board-regulated institution is adequately capitalized, undercapitalized, significantly undercapitalized, or critically undercapitalized under the Board's prompt corrective action regulations; and (ii) Reclassifying a well-capitalized Board-regulated institution to adequately capitalized and requiring an adequately capitalized Board- regulated institution to comply with certain mandatory or discretionary supervisory actions as if the Board-regulated institution were in the next lower prompt-corrective-action category. (i) Nth-to-default credit derivatives--(1) Protection provider. A Board-regulated institution may assign a risk weight using the SSFA in Sec. 217.43 to an n\th\-to-default credit derivative in accordance with this paragraph (i). A Board-regulated institution must determine its exposure in the n\th\-to-default credit derivative as the largest notional amount of all the underlying exposures. (2) For purposes of determining the risk weight for an n\th\-to- default credit derivative using the SSFA, the Board-regulated institution must calculate the attachment point and detachment point of its exposure as follows: (i) The attachment point (parameter A) is the ratio of the sum of the notional amounts of all underlying exposures that are subordinated to the Board-regulated institution's exposure to the total notional amount of all underlying exposures. The ratio is expressed as a decimal value between zero and one. In the case of a first-to-default credit derivative, there are no underlying exposures that are subordinated to the Board-regulated institution's exposure. In the case of a second-or- subsequent-to-default credit derivative, the smallest (n-1) notional amounts of the underlying exposure(s) are subordinated to the Board- regulated institution's exposure. (ii) The detachment point (parameter D) equals the sum of parameter A plus the ratio of the notional amount of the Board-regulated institution's exposure in the n\th\-to-default credit derivative to the total notional amount of all underlying exposures. The ratio is expressed as a decimal value between zero and one. (3) A Board-regulated institution that does not use the SSFA to determine a risk weight for its n\th\-to-default credit derivative must assign a risk weight of 1,250 percent to the exposure. (4) Protection purchaser--(i) First-to-default credit derivatives. A Board-regulated institution that obtains credit protection on a group of underlying exposures through a first-to-default credit derivative that meets the rules of recognition of Sec. 217.36(b) must determine its risk-based capital requirement for the underlying exposures as if the Board-regulated institution synthetically securitized the underlying exposure with the smallest risk-weighted asset amount and had obtained no credit risk mitigant on the other underlying exposures. A Board- regulated institution must calculate a risk-based capital requirement for counterparty credit risk according to Sec. 217.34 for a first-to- default credit derivative that does not meet the rules of recognition of Sec. 217.36(b). [[Page 496]] (ii) Second-or-subsequent-to-default credit derivatives. (A) A Board-regulated institution that obtains credit protection on a group of underlying exposures through a n\th\-to-default credit derivative that meets the rules of recognition of Sec. 217.36(b) (other than a first- to-default credit derivative) may recognize the credit risk mitigation benefits of the derivative only if: (1) The Board-regulated institution also has obtained credit protection on the same underlying exposures in the form of first- through-(n-1)-to-default credit derivatives; or (2) If n-1 of the underlying exposures have already defaulted. (B) If a Board-regulated institution satisfies the requirements of paragraph (i)(4)(ii)(A) of this section, the Board-regulated institution must determine its risk-based capital requirement for the underlying exposures as if the Board-regulated institution had only synthetically securitized the underlying exposure with the n\th\ smallest risk- weighted asset amount and had obtained no credit risk mitigant on the other underlying exposures. (C) A Board-regulated institution must calculate a risk-based capital requirement for counterparty credit risk according to Sec. 217.34 for a n\th\-to-default credit derivative that does not meet the rules of recognition of Sec. 217.36(b). (j) Guarantees and credit derivatives other than nth-to-default credit derivatives--(1) Protection provider. For a guarantee or credit derivative (other than an n\th\-to-default credit derivative) provided by a Board-regulated institution that covers the full amount or a pro rata share of a securitization exposure's principal and interest, the Board-regulated institution must risk weight the guarantee or credit derivative as if it holds the portion of the reference exposure covered by the guarantee or credit derivative. (2) Protection purchaser. (i) A Board-regulated institution that purchases a guarantee or OTC credit derivative (other than an n\th\-to- default credit derivative) that is recognized under Sec. 217.45 as a credit risk mitigant (including via collateral recognized under Sec. 217.37) is not required to compute a separate counterparty credit risk capital requirement under Sec. 217.31, in accordance with 34(c). (ii) If a Board-regulated institution cannot, or chooses not to, recognize a purchased credit derivative as a credit risk mitigant under Sec. 217.45, the Board-regulated institution must determine the exposure amount of the credit derivative under Sec. 217.34. (A) If the Board-regulated institution purchases credit protection from a counterparty that is not a securitization SPE, the Board- regulated institution must determine the risk weight for the exposure according to this subpart D. (B) If the Board-regulated institution purchases the credit protection from a counterparty that is a securitization SPE, the Board- regulated institution must determine the risk weight for the exposure according to section Sec. 217.42, including Sec. 217.42(a)(4) for a credit derivative that has a first priority claim on the cash flows from the underlying exposures of the securitization SPE (notwithstanding amounts due under interest rate or currency derivative contracts, fees due, or other similar payments). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62288, Oct. 11, 2013; 84 FR 35266, July 22, 2019] Sec. 217.43 Simplified supervisory formula approach (SSFA) and the gross-up approach. (a) General requirements for the SSFA. To use the SSFA to determine the risk weight for a securitization exposure, a Board-regulated institution must have data that enables it to assign accurately the parameters described in paragraph (b) of this section. Data used to assign the parameters described in paragraph (b) of this section must be the most currently available data; if the contracts governing the underlying exposures of the securitization require payments on a monthly or quarterly basis, the data used to assign the parameters described in paragraph (b) of this section must be no more than 91 calendar days old. A Board-regulated institution that does not have the appropriate data to assign the parameters described in paragraph (b) of this section must assign a risk weight of 1,250 percent to the exposure. [[Page 497]] (b) SSFA parameters. To calculate the risk weight for a securitization exposure using the SSFA, a Board-regulated institution must have accurate information on the following five inputs to the SSFA calculation: (1) KG is the weighted-average (with unpaid principal used as the weight for each exposure) total capital requirement of the underlying exposures calculated using this subpart. KG is expressed as a decimal value between zero and one (that is, an average risk weight of 100 percent represents a value of KG equal to 0.08). (2) Parameter W is expressed as a decimal value between zero and one. Parameter W is the ratio of the sum of the dollar amounts of any underlying exposures of the securitization that meet any of the criteria as set forth in paragraphs (b)(2)(i) through (vi) of this section to the balance, measured in dollars, of underlying exposures: (i) Ninety days or more past due; (ii) Subject to a bankruptcy or insolvency proceeding; (iii) In the process of foreclosure; (iv) Held as real estate owned; (v) Has contractually deferred payments for 90 days or more, other than principal or interest payments deferred on: (A) Federally-guaranteed student loans, in accordance with the terms of those guarantee programs; or (B) Consumer loans, including non-federally-guaranteed student loans, provided that such payments are deferred pursuant to provisions included in the contract at the time funds are disbursed that provide for period(s) of deferral that are not initiated based on changes in the creditworthiness of the borrower; or (vi) Is in default. (3) Parameter A is the attachment point for the exposure, which represents the threshold at which credit losses will first be allocated to the exposure. Except as provided in Sec. 217.42(i) for n\th\-to- default credit derivatives, parameter A equals the ratio of the current dollar amount of underlying exposures that are subordinated to the exposure of the Board-regulated institution to the current dollar amount of underlying exposures. Any reserve account funded by the accumulated cash flows from the underlying exposures that is subordinated to the Board-regulated institution's securitization exposure may be included in the calculation of parameter A to the extent that cash is present in the account. Parameter A is expressed as a decimal value between zero and one. (4) Parameter D is the detachment point for the exposure, which represents the threshold at which credit losses of principal allocated to the exposure would result in a total loss of principal. Except as provided in section 42(i) for n\th\-to-default credit derivatives, parameter D equals parameter A plus the ratio of the current dollar amount of the securitization exposures that are pari passu with the exposure (that is, have equal seniority with respect to credit risk) to the current dollar amount of the underlying exposures. Parameter D is expressed as a decimal value between zero and one. (5) A supervisory calibration parameter, p, is equal to 0.5 for securitization exposures that are not resecuritization exposures and equal to 1.5 for resecuritization exposures. (c) Mechanics of the SSFA. KG and W are used to calculate KA, the augmented value of KG, which reflects the observed credit quality of the underlying exposures. KA is defined in paragraph (d) of this section. The values of parameters A and D, relative to KA determine the risk weight assigned to a securitization exposure as described in paragraph (d) of this section. The risk weight assigned to a securitization exposure, or portion of a securitization exposure, as appropriate, is the larger of the risk weight determined in accordance with this paragraph (c) or paragraph (d) of this section and a risk weight of 20 percent. (1) When the detachment point, parameter D, for a securitization exposure is less than or equal to KA, the exposure must be assigned a risk weight of 1,250 percent. (2) When the attachment point, parameter A, for a securitization exposure is greater than or equal to KA, the Board-regulated institution must calculate the risk weight in accordance with paragraph (d) of this section. (3) When A is less than KA and D is greater than KA, the risk weight is a [[Page 498]] weighted-average of 1,250 percent and 1,250 percent times KSSFA calculated in accordance with paragraph (d) of this section. For the purpose of this weighted-average calculation: [GRAPHIC] [TIFF OMITTED] TR11OC13.024 (e) Gross-up approach--(1) Applicability. A Board-regulated institution that is not subject to subpart F of this part may apply the gross-up approach set forth in this section instead of the SSFA to determine the risk weight of its securitization exposures, provided that it applies the gross-up approach to all of its securitization exposures, except as otherwise provided for certain [[Page 499]] securitization exposures in Sec. Sec. 217.44 and 217.45. (2) To use the gross-up approach, a Board-regulated institution must calculate the following four inputs: (i) Pro rata share, which is the par value of the Board-regulated institution's securitization exposure as a percent of the par value of the tranche in which the securitization exposure resides; (ii) Enhanced amount, which is the par value of tranches that are more senior to the tranche in which the Board-regulated institution's securitization resides; (iii) Exposure amount of the Board-regulated institution's securitization exposure calculated under Sec. 217.42(c); and (iv) Risk weight, which is the weighted-average risk weight of underlying exposures of the securitization as calculated under this subpart. (3) Credit equivalent amount. The credit equivalent amount of a securitization exposure under this section equals the sum of: (i) The exposure amount of the Board-regulated institution's securitization exposure; and (ii) The pro rata share multiplied by the enhanced amount, each calculated in accordance with paragraph (e)(2) of this section. (4) Risk-weighted assets. To calculate risk-weighted assets for a securitization exposure under the gross-up approach, a Board-regulated institution must apply the risk weight required under paragraph (e)(2) of this section to the credit equivalent amount calculated in paragraph (e)(3) of this section. (f) Limitations. Notwithstanding any other provision of this section, a Board-regulated institution must assign a risk weight of not less than 20 percent to a securitization exposure. Sec. 217.44 Securitization exposures to which the SSFA and gross-up approach do not apply. (a) General requirement. A Board-regulated institution must assign a 1,250 percent risk weight to all securitization exposures to which the Board-regulated institution does not apply the SSFA or the gross-up approach under Sec. 217.43, except as set forth in this section. (b) Eligible ABCP liquidity facilities. A Board-regulated institution may determine the risk-weighted asset amount of an eligible ABCP liquidity facility by multiplying the exposure amount by the highest risk weight applicable to any of the individual underlying exposures covered by the facility. (c) A securitization exposure in a second loss position or better to an ABCP program--(1) Risk weighting. A Board-regulated institution may determine the risk-weighted asset amount of a securitization exposure that is in a second loss position or better to an ABCP program that meets the requirements of paragraph (c)(2) of this section by multiplying the exposure amount by the higher of the following risk weights: (i) 100 percent; and (ii) The highest risk weight applicable to any of the individual underlying exposures of the ABCP program. (2) Requirements. (i) The exposure is not an eligible ABCP liquidity facility; (ii) The exposure must be economically in a second loss position or better, and the first loss position must provide significant credit protection to the second loss position; (iii) The exposure qualifies as investment grade; and (iv) The Board-regulated institution holding the exposure must not retain or provide protection to the first loss position. Sec. 217.45 Recognition of credit risk mitigants for securitization exposures. (a) General. (1) An originating Board-regulated institution that has obtained a credit risk mitigant to hedge its exposure to a synthetic or traditional securitization that satisfies the operational criteria provided in Sec. 217.41 may recognize the credit risk mitigant under Sec. Sec. 217.36 or 217.37, but only as provided in this section. (2) An investing Board-regulated institution that has obtained a credit risk mitigant to hedge a securitization exposure may recognize the credit risk mitigant under Sec. Sec. 217.36 or 217.37, but only as provided in this section. [[Page 500]] (b) Mismatches. A Board-regulated institution must make any applicable adjustment to the protection amount of an eligible guarantee or credit derivative as required in Sec. 217.36(d), (e), and (f) for any hedged securitization exposure. In the context of a synthetic securitization, when an eligible guarantee or eligible credit derivative covers multiple hedged exposures that have different residual maturities, the Board-regulated institution must use the longest residual maturity of any of the hedged exposures as the residual maturity of all hedged exposures. Sec. Sec. 217.46-217.50 [Reserved] Risk-Weighted Assets for Equity Exposures Sec. 217.51 Introduction and exposure measurement. (a) General. (1) To calculate its risk-weighted asset amounts for equity exposures that are not equity exposures to an investment fund, a Board-regulated institution must use the Simple Risk-Weight Approach (SRWA) provided in 217.52. A Board-regulated institution must use the look-through approaches provided in Sec. 217.53 to calculate its risk- weighted asset amounts for equity exposures to investment funds. (2) A Board-regulated institution must treat an investment in a separate account (as defined in Sec. 217.2) as if it were an equity exposure to an investment fund as provided in Sec. 217.53. (3) Stable value protection. (i) Stable value protection means a contract where the provider of the contract is obligated to pay: (A) The policy owner of a separate account an amount equal to the shortfall between the fair value and cost basis of the separate account when the policy owner of the separate account surrenders the policy; or (B) The beneficiary of the contract an amount equal to the shortfall between the fair value and book value of a specified portfolio of assets. (ii) A Board-regulated institution that purchases stable value protection on its investment in a separate account must treat the portion of the carrying value of its investment in the separate account attributable to the stable value protection as an exposure to the provider of the protection and the remaining portion of the carrying value of its separate account as an equity exposure to an investment fund. (iii) A Board-regulated institution that provides stable value protection must treat the exposure as an equity derivative with an adjusted carrying value determined as the sum of paragraphs (b)(1) and (3) of this section. (b) Adjusted carrying value. For purposes of Sec. Sec. 217.51 through 217.53, the adjusted carrying value of an equity exposure is: (1) For the on-balance sheet component of an equity exposure (other than an equity exposure that is classified as available-for-sale where the Board-regulated institution has made an AOCI opt-out election under Sec. 217.22(b)(2)), the Board-regulated institution's carrying value of the exposure; (2) For the on-balance sheet component of an equity exposure that is classified as available-for-sale where the Board-regulated institution has made an AOCI opt-out election under Sec. 217.22(b)(2), the Board- regulated institution's carrying value of the exposure less any net unrealized gains on the exposure that are reflected in such carrying value but excluded from the Board-regulated institution's regulatory capital components; (3) For the off-balance sheet component of an equity exposure that is not an equity commitment, the effective notional principal amount of the exposure, the size of which is equivalent to a hypothetical on- balance sheet position in the underlying equity instrument that would evidence the same change in fair value (measured in dollars) given a small change in the price of the underlying equity instrument, minus the adjusted carrying value of the on-balance sheet component of the exposure as calculated in paragraph (b)(1) of this section; and (4) For a commitment to acquire an equity exposure (an equity commitment), the effective notional principal amount of the exposure is multiplied by the following conversion factors (CFs): (i) Conditional equity commitments with an original maturity of one year or less receive a CF of 20 percent. [[Page 501]] (ii) Conditional equity commitments with an original maturity of over one year receive a CF of 50 percent. (iii) Unconditional equity commitments receive a CF of 100 percent. Sec. 217.52 Simple risk-weight approach (SRWA). (a) General. Under the SRWA, a Board-regulated institution's total risk-weighted assets for equity exposures equals the sum of the risk- weighted asset amounts for each of the Board-regulated institution's individual equity exposures (other than equity exposures to an investment fund) as determined under this section and the risk-weighted asset amounts for each of the Board-regulated institution's individual equity exposures to an investment fund as determined under Sec. 217.53. (b) SRWA computation for individual equity exposures. A Board- regulated institution must determine the risk-weighted asset amount for an individual equity exposure (other than an equity exposure to an investment fund) by multiplying the adjusted carrying value of the equity exposure or the effective portion and ineffective portion of a hedge pair (as defined in paragraph (c) of this section) by the lowest applicable risk weight in this paragraph (b). (1) Zero percent risk weight equity exposures. An equity exposure to a sovereign, the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, an MDB, and any other entity whose credit exposures receive a zero percent risk weight under Sec. 217.32 may be assigned a zero percent risk weight. (2) 20 percent risk weight equity exposures. An equity exposure to a PSE, Federal Home Loan Bank or the Federal Agricultural Mortgage Corporation (Farmer Mac) must be assigned a 20 percent risk weight. (3) 100 percent risk weight equity exposures. The equity exposures set forth in this paragraph (b)(3) must be assigned a 100 percent risk weight. (i) Community development equity exposures. (A) For state member banks and bank holding companies, an equity exposure that qualifies as a community development investment under 12 U.S.C. 24 (Eleventh), excluding equity exposures to an unconsolidated small business investment company and equity exposures held through a consolidated small business investment company described in section 302 of the Small Business Investment Act of 1958 (15 U.S.C. 682). (B) For savings and loan holding companies, an equity exposure that is designed primarily to promote community welfare, including the welfare of low- and moderate-income communities or families, such as by providing services or employment, and excluding equity exposures to an unconsolidated small business investment company and equity exposures held through a small business investment company described in section 302 of the Small Business Investment Act of 1958 (15 U.S.C. 682). (ii) Effective portion of hedge pairs. The effective portion of a hedge pair. (iii) Non-significant equity exposures. Equity exposures, excluding significant investments in the capital of an unconsolidated financial institution in the form of common stock and exposures to an investment firm that would meet the definition of a traditional securitization were it not for the application of paragraph (8) of that definition in Sec. 217.2 and has greater than immaterial leverage, to the extent that the aggregate adjusted carrying value of the exposures does not exceed 10 percent of the Board-regulated institution's total capital. (A) To compute the aggregate adjusted carrying value of a Board- regulated institution's equity exposures for purposes of this section, the Board-regulated institution may exclude equity exposures described in paragraphs (b)(1), (b)(2), (b)(3)(i), and (b)(3)(ii) of this section, the equity exposure in a hedge pair with the smaller adjusted carrying value, and a proportion of each equity exposure to an investment fund equal to the proportion of the assets of the investment fund that are not equity exposures or that meet the criterion of paragraph (b)(3)(i) of this section. If a Board-regulated institution does not know the actual holdings [[Page 502]] of the investment fund, the Board-regulated institution may calculate the proportion of the assets of the fund that are not equity exposures based on the terms of the prospectus, partnership agreement, or similar contract that defines the fund's permissible investments. If the sum of the investment limits for all exposure classes within the fund exceeds 100 percent, the Board-regulated institution must assume for purposes of this section that the investment fund invests to the maximum extent possible in equity exposures. (B) When determining which of a Board-regulated institution's equity exposures qualify for a 100 percent risk weight under this paragraph (b), a Board-regulated institution first must include equity exposures to unconsolidated small business investment companies or held through consolidated small business investment companies described in section 302 of the Small Business Investment Act, then must include publicly traded equity exposures (including those held indirectly through investment funds), and then must include non-publicly traded equity exposures (including those held indirectly through investment funds). (4) 250 percent risk weight equity exposures. Significant investments in the capital of unconsolidated financial institutions in the form of common stock that are not deducted from capital pursuant to Sec. 217.22(d)(2) are assigned a 250 percent risk weight. (5) 300 percent risk weight equity exposures. A publicly traded equity exposure (other than an equity exposure described in paragraph (b)(7) of this section and including the ineffective portion of a hedge pair) must be assigned a 300 percent risk weight. (6) 400 percent risk weight equity exposures. An equity exposure (other than an equity exposure described in paragraph (b)(7)) of this section that is not publicly traded must be assigned a 400 percent risk weight. (7) 600 percent risk weight equity exposures. An equity exposure to an investment firm must be assigned a 600 percent risk weight, provided that the investment firm: (i) Would meet the definition of a traditional securitization were it not for the application of paragraph (8) of that definition; and (ii) Has greater than immaterial leverage. (c) Hedge transactions--(1) Hedge pair. A hedge pair is two equity exposures that form an effective hedge so long as each equity exposure is publicly traded or has a return that is primarily based on a publicly traded equity exposure. (2) Effective hedge. Two equity exposures form an effective hedge if the exposures either have the same remaining maturity or each has a remaining maturity of at least three months; the hedge relationship is formally documented in a prospective manner (that is, before the Board- regulated institution acquires at least one of the equity exposures); the documentation specifies the measure of effectiveness (E) the Board- regulated institution will use for the hedge relationship throughout the life of the transaction; and the hedge relationship has an E greater than or equal to 0.8. A Board-regulated institution must measure E at least quarterly and must use one of three alternative measures of E as set forth in this paragraph (c). (i) Under the dollar-offset method of measuring effectiveness, the Board-regulated institution must determine the ratio of value change (RVC). The RVC is the ratio of the cumulative sum of the changes in value of one equity exposure to the cumulative sum of the changes in the value of the other equity exposure. If RVC is positive, the hedge is not effective and E equals 0. If RVC is negative and greater than or equal to -1 (that is, between zero and -1), then E equals the absolute value of RVC. If RVC is negative and less than -1, then E equals 2 plus RVC. (ii) Under the variability-reduction method of measuring effectiveness: [[Page 503]] [GRAPHIC] [TIFF OMITTED] TR11OC13.027 (iii) Under the regression method of measuring effectiveness, E equals the coefficient of determination of a regression in which the change in value of one exposure in a hedge pair is the dependent variable and the change in value of the other exposure in a hedge pair is the independent variable. However, if the estimated regression coefficient is positive, then E equals zero. (3) The effective portion of a hedge pair is E multiplied by the greater of the adjusted carrying values of the equity exposures forming a hedge pair. (4) The ineffective portion of a hedge pair is (1-E) multiplied by the greater of the adjusted carrying values of the equity exposures forming a hedge pair. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62288, Oct. 11, 2013; 84 FR 35266, July 22, 2019] Sec. 217.53 Equity exposures to investment funds. (a) Available approaches. (1) Unless the exposure meets the requirements for a community development equity exposure under Sec. 217.52(b)(3)(i), a Board-regulated institution must determine the risk- weighted asset amount of an equity exposure to an investment fund under the full look-through approach described in paragraph (b) of this section, the simple modified look-through approach described in paragraph (c) of this section, or the alterative modified look-through approach described paragraph (d) of this section, provided, however, that the minimum risk weight that may be assigned to an equity exposure under this section is 20 percent. (2) The risk-weighted asset amount of an equity exposure to an investment fund that meets the requirements for a community development equity exposure in Sec. 217.52(b)(3)(i) is its adjusted carrying value. (3) If an equity exposure to an investment fund is part of a hedge pair and the Board-regulated institution does not use the full look- through approach, the Board-regulated institution must use the ineffective portion of the hedge pair as determined under Sec. 217.52(c) as the adjusted carrying value for the equity exposure to the investment fund. The risk-weighted asset amount of the effective portion of the hedge pair is equal to its adjusted carrying value. (b) Full look-through approach. A Board-regulated institution that is able to calculate a risk-weighted asset amount for its proportional ownership share of each exposure held by the investment fund (as calculated under this subpart as if the proportional ownership share of the adjusted carrying value of each exposure were held directly by the Board-regulated institution) may set the risk-weighted asset amount of the Board-regulated institution's exposure to the fund equal to the product of: (1) The aggregate risk-weighted asset amounts of the exposures held by the fund as if they were held directly by the Board-regulated institution; and [[Page 504]] (2) The Board-regulated institution's proportional ownership share of the fund. (c) Simple modified look-through approach. Under the simple modified look-through approach, the risk-weighted asset amount for a Board- regulated institution's equity exposure to an investment fund equals the adjusted carrying value of the equity exposure multiplied by the highest risk weight that applies to any exposure the fund is permitted to hold under the prospectus, partnership agreement, or similar agreement that defines the fund's permissible investments (excluding derivative contracts that are used for hedging rather than speculative purposes and that do not constitute a material portion of the fund's exposures). (d) Alternative modified look-through approach. Under the alternative modified look-through approach, a Board-regulated institution may assign the adjusted carrying value of an equity exposure to an investment fund on a pro rata basis to different risk weight categories under this subpart based on the investment limits in the fund's prospectus, partnership agreement, or similar contract that defines the fund's permissible investments. The risk-weighted asset amount for the Board-regulated institution's equity exposure to the investment fund equals the sum of each portion of the adjusted carrying value assigned to an exposure type multiplied by the applicable risk weight under this subpart. If the sum of the investment limits for all exposure types within the fund exceeds 100 percent, the Board-regulated institution must assume that the fund invests to the maximum extent permitted under its investment limits in the exposure type with the highest applicable risk weight under this subpart and continues to make investments in order of the exposure type with the next highest applicable risk weight under this subpart until the maximum total investment level is reached. If more than one exposure type applies to an exposure, the Board-regulated institution must use the highest applicable risk weight. A Board-regulated institution may exclude derivative contracts held by the fund that are used for hedging rather than for speculative purposes and do not constitute a material portion of the fund's exposures. Sec. Sec. 217.54-217.60 [Reserved] Disclosures Sec. 217.61 Purpose and scope. Sections 217.61 through 217.63 of this subpart establish public disclosure requirements related to the capital requirements described in subpart B of this part for a Board-regulated institution with total consolidated assets of $50 billion or more as reported on the Board- regulated institution's most recent year-end Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable that is not an advanced approaches Board- regulated institution making public disclosures pursuant to Sec. 217.172. An advanced approaches Board-regulated institution that has not received approval from the Board to exit parallel run pursuant to Sec. 217.121(d) is subject to the disclosure requirements described in Sec. Sec. 217.62 and 217.63. A Board-regulated institution with total consolidated assets of $50 billion or more as reported on the Board- regulated institution's most recent year-end Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable, that is not an advanced approaches Board-regulated institution making public disclosures subject to Sec. 217.172 must comply with Sec. 217.62 unless it is a consolidated subsidiary of a bank holding company, savings and loan holding company, or depository institution that is subject to the disclosure requirements of Sec. 217.62 or a subsidiary of a non-U.S. banking organization that is subject to comparable public disclosure requirements in its home jurisdiction. For purposes of this section, total consolidated assets are determined based on the average of the Board-regulated institution's total consolidated assets in the four most recent quarters as reported on the Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable; or the average of the Board-regulated institution's total [[Page 505]] consolidated assets in the most recent consecutive quarters as reported quarterly on the Board-regulated institution's Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable if the Board-regulated institution has not filed such a report for each of the most recent four quarters. [Reg. Q, 84 FR 35266, July 22, 2019] Sec. 217.62 Disclosure requirements. (a) A Board-regulated institution described in Sec. 217.61 must provide timely public disclosures each calendar quarter of the information in the applicable tables in Sec. 217.63. If a significant change occurs, such that the most recent reported amounts are no longer reflective of the Board-regulated institution's capital adequacy and risk profile, then a brief discussion of this change and its likely impact must be disclosed as soon as practicable thereafter. Qualitative disclosures that typically do not change each quarter (for example, a general summary of the Board-regulated institution's risk management objectives and policies, reporting system, and definitions) may be disclosed annually after the end of the fourth calendar quarter, provided that any significant changes are disclosed in the interim. The Board-regulated institution's management may provide all of the disclosures required by Sec. Sec. 217.61 through 217.63 in one place on the Board-regulated institution's public Web site or may provide the disclosures in more than one public financial report or other regulatory reports, provided that the Board-regulated institution publicly provides a summary table specifically indicating the location(s) of all such disclosures. (b) A Board-regulated institution described in Sec. 217.61 must have a formal disclosure policy approved by the board of directors that addresses its approach for determining the disclosures it makes. The policy must address the associated internal controls and disclosure controls and procedures. The board of directors and senior management are responsible for establishing and maintaining an effective internal control structure over financial reporting, including the disclosures required by this subpart, and must ensure that appropriate review of the disclosures takes place. One or more senior officers of the Board- regulated institution must attest that the disclosures meet the requirements of this subpart. (c) If a Board-regulated institution described in Sec. 217.61 concludes that specific commercial or financial information that it would otherwise be required to disclose under this section would be exempt from disclosure by the Board under the Freedom of Information Act (5 U.S.C. 552), then the Board-regulated institution is not required to disclose that specific information pursuant to this section, but must disclose more general information about the subject matter of the requirement, together with the fact that, and the reason why, the specific items of information have not been disclosed. Sec. 217.63 Disclosures by Board-regulated institutions described in Sec. 217.61. (a) Except as provided in Sec. 217.62, a Board-regulated institution described in Sec. 217.61 must make the disclosures described in Tables 1 through 10 of this section. The Board-regulated institution must make these disclosures publicly available for each of the last three years (that is, twelve quarters) or such shorter period beginning on January 1, 2015. (b) A Board-regulated institution must publicly disclose each quarter the following: (1) Common equity tier 1 capital, additional tier 1 capital, tier 2 capital, tier 1 and total capital ratios, including the regulatory capital elements and all the regulatory adjustments and deductions needed to calculate the numerator of such ratios; (2) Total risk-weighted assets, including the different regulatory adjustments and deductions needed to calculate total risk-weighted assets; (3) Regulatory capital ratios during any transition periods, including a description of all the regulatory capital elements and all regulatory adjustments and deductions needed to calculate the numerator and denominator of each capital ratio during any transition period; and [[Page 506]] (4) A reconciliation of regulatory capital elements as they relate to its balance sheet in any audited consolidated financial statements. Table 1 to Sec. 217.63--Scope of Application ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The name of the top corporate entity in the group to which subpart D of this part applies. (b)........................ A brief description of the differences in the basis for consolidating entities \1\ for accounting and regulatory purposes, with a description of those entities: (1) That are fully consolidated; (2) That are deconsolidated and deducted from total capital; (3) For which the total capital requirement is deducted; and (4) That are neither consolidated nor deducted (for example, where the investment in the entity is assigned a risk weight in accordance with this subpart). (c)........................ Any restrictions, or other major impediments, on transfer of funds or total capital within the group. (d)........................ The aggregate amount of surplus capital of insurance subsidiaries included in the total capital of the consolidated group. (e)........................ The aggregate amount by which actual total capital is less than the minimum total capital requirement in all subsidiaries, with total capital requirements and the name(s) of the subsidiaries with such deficiencies. ---------------------------------------------------------------------------------------------------------------- \1\ Entities include securities, insurance and other financial subsidiaries, commercial subsidiaries (where permitted), and significant minority equity investments in insurance, financial and commercial entities. Table 2 to Sec. 217.63--Capital Structure ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ Summary information on the terms and conditions of the main features of all regulatory capital instruments. Quantitative Disclosures................ (b)........................ The amount of common equity tier 1 capital, with separate disclosure of: (1) Common stock and related surplus; (2) Retained earnings; (3) Common equity minority interest; (4) AOCI; and (5) Regulatory adjustments and deductions made to common equity tier 1 capital. (c)........................ The amount of tier 1 capital, with separate disclosure of: (1) Additional tier 1 capital elements, including additional tier 1 capital instruments and tier 1 minority interest not included in common equity tier 1 capital; and (2) Regulatory adjustments and deductions made to tier 1 capital. (d)........................ The amount of total capital, with separate disclosure of: (1) Tier 2 capital elements, including tier 2 capital instruments and total capital minority interest not included in tier 1 capital; and (2) Regulatory adjustments and deductions made to total capital. ---------------------------------------------------------------------------------------------------------------- Table 3 to Sec. 217.63--Capital Adequacy ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ A summary discussion of the Board- regulated institution's approach to assessing the adequacy of its capital to support current and future activities. Quantitative disclosures................ (b)........................ Risk-weighted assets for: (1) Exposures to sovereign entities; (2) Exposures to certain supranational entities and MDBs; (3) Exposures to depository institutions, foreign banks, and credit unions; (4) Exposures to PSEs; (5) Corporate exposures; (6) Residential mortgage exposures; (7) Statutory multifamily mortgages and pre-sold construction loans; (8) HVCRE exposures; (9) Past due loans; (10) Other assets; (11) Cleared transactions; (12) Default fund contributions; (13) Unsettled transactions; (14) Securitization exposures; and (15) Equity exposures. (c)........................ Standardized market risk-weighted assets as calculated under subpart F of this part. (d)........................ Common equity tier 1, tier 1 and total risk-based capital ratios: (1) For the top consolidated group; and (2) For each depository institution subsidiary. (e)........................ Total standardized risk-weighted assets. ---------------------------------------------------------------------------------------------------------------- Table 4 to Sec. 217.63--Capital Conservation Buffer ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Quantitative Disclosures................ (a)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose the capital conservation buffer as described under Sec. 217.11. [[Page 507]] (b)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose the eligible retained income of the Board-regulated institution, as described under Sec. 217.11. (c)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose any limitations it has on distributions and discretionary bonus payments resulting from the capital conservation buffer framework described under Sec. 217.11, including the maximum payout amount for the quarter. ---------------------------------------------------------------------------------------------------------------- (c) General qualitative disclosure requirement. For each separate risk area described in Tables 5 through 10, the Board-regulated institution must describe its risk management objectives and policies, including: Strategies and processes; the structure and organization of the relevant risk management function; the scope and nature of risk reporting and/or measurement systems; policies for hedging and/or mitigating risk and strategies and processes for monitoring the continuing effectiveness of hedges/mitigants. Table 5 to Sec. 217.63 \1\--Credit Risk: General Disclosures ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to credit risk (excluding counterparty credit risk disclosed in accordance with Table 6), including the: (1) Policy for determining past due or delinquency status; (2) Policy for placing loans on nonaccrual; (3) Policy for returning loans to accrual status; (4) Definition of and policy for identifying impaired loans (for financial accounting purposes); (5) Description of the methodology that the Board-regulated institution uses to estimate its allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, including statistical methods used where applicable; (6) Policy for charging-off uncollectible amounts; and (7) Discussion of the Board-regulated institution's credit risk management policy. Quantitative Disclosures................ (b)........................ Total credit risk exposures and average credit risk exposures, after accounting offsets in accordance with GAAP, without taking into account the effects of credit risk mitigation techniques (for example, collateral and netting not permitted under GAAP), over the period categorized by major types of credit exposure. For example, Board-regulated institutions could use categories similar to that used for financial statement purposes. Such categories might include, for instance (1) Loans, off-balance sheet commitments, and other non-derivative off-balance sheet exposures; (2) Debt securities; and (3) OTC derivatives.\2\ (c)........................ Geographic distribution of exposures, categorized in significant areas by major types of credit exposure.\3\ (d)........................ Industry or counterparty type distribution of exposures, categorized by major types of credit exposure. (e)........................ By major industry or counterparty type: (1) Amount of impaired loans for which there was a related allowance under GAAP; (2) Amount of impaired loans for which there was no related allowance under GAAP; (3) Amount of loans past due 90 days and on nonaccrual; (4) Amount of loans past due 90 days and still accruing; \4\ (5) The balance in the allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, at the end of each period, disaggregated on the basis of the Board-regulated institution's impairment method. To disaggregate the information required on the basis of impairment methodology, an entity shall separately disclose the amounts based on the requirements in GAAP; and (6) Charge-offs during the period. (f)........................ Amount of impaired loans and, if available, the amount of past due loans categorized by significant geographic areas including, if practical, the amounts of allowances related to each geographical area,\5\ further categorized as required by GAAP. (g)........................ Reconciliation of changes in ALLL or AACL, as applicable.\6\ (h)........................ Remaining contractual maturity delineation (for example, one year or less) of the whole portfolio, categorized by credit exposure. ---------------------------------------------------------------------------------------------------------------- \1\ Table 5 does not cover equity exposures, which should be reported in Table 9. \2\ See, for example, ASC Topic 815-10 and 210, as they may be amended from time to time. \3\ Geographical areas may consist of individual countries, groups of countries, or regions within countries. A Board-regulated institution might choose to define the geographical areas based on the way the Board-regulated institution's portfolio is geographically managed. The criteria used to allocate the loans to geographical areas must be specified. \4\ A Board-regulated institution is encouraged also to provide an analysis of the aging of past-due loans. \5\ The portion of the general allowance that is not allocated to a geographical area should be disclosed separately. \6\ The reconciliation should include the following: A description of the allowance; the opening balance of the allowance; charge-offs taken against the allowance during the period; amounts provided (or reversed) for estimated probable loan losses during the period; any other adjustments (for example, exchange rate differences, business combinations, acquisitions and disposals of subsidiaries), including transfers between allowances; and the closing balance of the allowance. Charge-offs and recoveries that have been recorded directly to the income statement should be disclosed separately. [[Page 508]] Table 6 to Sec. 217.63--General Disclosure for Counterparty Credit Risk-Related Exposures ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to OTC derivatives, eligible margin loans, and repo-style transactions, including a discussion of: (1) The methodology used to assign credit limits for counterparty credit exposures; (2) Policies for securing collateral, valuing and managing collateral, and establishing credit reserves; (3) The primary types of collateral taken; and (4) The impact of the amount of collateral the Board-regulated institution would have to provide given a deterioration in the Board-regulated institution's own creditworthiness. Quantitative Disclosures................ (b)........................ Gross positive fair value of contracts, collateral held (including type, for example, cash, government securities), and net unsecured credit exposure.\1\ A Board-regulated institution also must disclose the notional value of credit derivative hedges purchased for counterparty credit risk protection and the distribution of current credit exposure by exposure type.\2\ (c)........................ Notional amount of purchased and sold credit derivatives, segregated between use for the Board-regulated institution's own credit portfolio and in its intermediation activities, including the distribution of the credit derivative products used, categorized further by protection bought and sold within each product group. ---------------------------------------------------------------------------------------------------------------- \1\ Net unsecured credit exposure is the credit exposure after considering both the benefits from legally enforceable netting agreements and collateral arrangements without taking into account haircuts for price volatility, liquidity, etc. \2\ This may include interest rate derivative contracts, foreign exchange derivative contracts, equity derivative contracts, credit derivatives, commodity or other derivative contracts, repo-style transactions, and eligible margin loans. Table 7 to Sec. 217.63--Credit Risk Mitigation \1 2\ ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to credit risk mitigation, including: (1) Policies and processes for collateral valuation and management; (2) A description of the main types of collateral taken by the Board-regulated institution; (3) The main types of guarantors/credit derivative counterparties and their creditworthiness; and (4) Information about (market or credit) risk concentrations with respect to credit risk mitigation. Quantitative Disclosures................ (b)........................ For each separately disclosed credit risk portfolio, the total exposure that is covered by eligible financial collateral, and after the application of haircuts. (c)........................ For each separately disclosed portfolio, the total exposure that is covered by guarantees/credit derivatives and the risk-weighted asset amount associated with that exposure. ---------------------------------------------------------------------------------------------------------------- \1\ At a minimum, a Board-regulated institution must provide the disclosures in Table 7 in relation to credit risk mitigation that has been recognized for the purposes of reducing capital requirements under this subpart. Where relevant, Board-regulated institutions are encouraged to give further information about mitigants that have not been recognized for that purpose. \2\ Credit derivatives that are treated, for the purposes of this subpart, as synthetic securitization exposures should be excluded from the credit risk mitigation disclosures and included within those relating to securitization (Table 8). Table 8 to Sec. 217.63--Securitization ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to a securitization (including synthetic securitizations), including a discussion of: (1) The Board-regulated institution's objectives for securitizing assets, including the extent to which these activities transfer credit risk of the underlying exposures away from the Board- regulated institution to other entities and including the type of risks assumed and retained with resecuritization activity; \1\ (2) The nature of the risks (e.g., liquidity risk) inherent in the securitized assets; (3) The roles played by the Board- regulated institution in the securitization process \2\ and an indication of the extent of the Board- regulated institution's involvement in each of them; (4) The processes in place to monitor changes in the credit and market risk of securitization exposures including how those processes differ for resecuritization exposures; (5) The Board-regulated institution's policy for mitigating the credit risk retained through securitization and resecuritization exposures; and (6) The risk-based capital approaches that the Board-regulated institution follows for its securitization exposures including the type of securitization exposure to which each approach applies. (b)........................ A list of: (1) The type of securitization SPEs that the Board-regulated institution, as sponsor, uses to securitize third-party exposures. The Board-regulated institution must indicate whether it has exposure to these SPEs, either on- or off-balance sheet; and (2) Affiliated entities: (i) That the Board-regulated institution manages or advises; and (ii) That invest either in the securitization exposures that the Board- regulated institution has securitized or in securitization SPEs that the Board- regulated institution sponsors.\3\ (c)........................ Summary of the Board-regulated institution's accounting policies for securitization activities, including: (1) Whether the transactions are treated as sales or financings; [[Page 509]] (2) Recognition of gain-on-sale; (3) Methods and key assumptions applied in valuing retained or purchased interests; (4) Changes in methods and key assumptions from the previous period for valuing retained interests and impact of the changes; (5) Treatment of synthetic securitizations; (6) How exposures intended to be securitized are valued and whether they are recorded under subpart D of this part; and (7) Policies for recognizing liabilities on the balance sheet for arrangements that could require the Board-regulated institution to provide financial support for securitized assets. (d)........................ An explanation of significant changes to any quantitative information since the last reporting period. Quantitative Disclosures................ (e)........................ The total outstanding exposures securitized by the Board-regulated institution in securitizations that meet the operational criteria provided in Sec. 217.41 (categorized into traditional and synthetic securitizations), by exposure type, separately for securitizations of third- party exposures for which the bank acts only as sponsor.\4\ (f)........................ For exposures securitized by the Board- regulated institution in securitizations that meet the operational criteria in Sec. 217.41: (1) Amount of securitized assets that are impaired/past due categorized by exposure type; \5\ and (2) Losses recognized by the Board- regulated institution during the current period categorized by exposure type.\6\ (g)........................ The total amount of outstanding exposures intended to be securitized categorized by exposure type. (h)........................ Aggregate amount of: (1) On-balance sheet securitization exposures retained or purchased categorized by exposure type; and (2) Off-balance sheet securitization exposures categorized by exposure type. (i)........................ (1) Aggregate amount of securitization exposures retained or purchased and the associated capital requirements for these exposures, categorized between securitization and resecuritization exposures, further categorized into a meaningful number of risk weight bands and by risk-based capital approach (e.g., SSFA); and (2) Aggregate amount disclosed separately by type of underlying exposure in the pool of any: (i) After-tax gain-on-sale on a securitization that has been deducted from common equity tier 1 capital; and (ii) Credit-enhancing interest-only strip that is assigned a 1,250 percent risk weight. (j)........................ Summary of current year's securitization activity, including the amount of exposures securitized (by exposure type), and recognized gain or loss on sale by exposure type. (k)........................ Aggregate amount of resecuritization exposures retained or purchased categorized according to: (1) Exposures to which credit risk mitigation is applied and those not applied; and (2) Exposures to guarantors categorized according to guarantor creditworthiness categories or guarantor name. ---------------------------------------------------------------------------------------------------------------- \1\ The Board-regulated institution should describe the structure of resecuritizations in which it participates; this description should be provided for the main categories of resecuritization products in which the Board- regulated institution is active. \2\ For example, these roles may include originator, investor, servicer, provider of credit enhancement, sponsor, liquidity provider, or swap provider. \3\ Such affiliated entities may include, for example, money market funds, to be listed individually, and personal and private trusts, to be noted collectively. \4\ ``Exposures securitized'' include underlying exposures originated by the bank, whether generated by them or purchased, and recognized in the balance sheet, from third parties, and third-party exposures included in sponsored transactions. Securitization transactions (including underlying exposures originally on the bank's balance sheet and underlying exposures acquired by the bank from third-party entities) in which the originating bank does not retain any securitization exposure should be shown separately but need only be reported for the year of inception. Banks are required to disclose exposures regardless of whether there is a capital charge under this part. \5\ Include credit-related other than temporary impairment (OTTI). \6\ For example, charge-offs/allowances (if the assets remain on the bank's balance sheet) or credit-related OTTI of interest-only strips and other retained residual interests, as well as recognition of liabilities for probable future financial support required of the bank with respect to securitized assets. Table 9 to Sec. 217.63--Equities Not Subject to Subpart F of This Part ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to equity risk for equities not subject to subpart F of this part, including: (1) Differentiation between holdings on which capital gains are expected and those taken under other objectives including for relationship and strategic reasons; and (2) Discussion of important policies covering the valuation of and accounting for equity holdings not subject to subpart F of this part. This includes the accounting techniques and valuation methodologies used, including key assumptions and practices affecting valuation as well as significant changes in these practices. Quantitative Disclosures................ (b)........................ Value disclosed on the balance sheet of investments, as well as the fair value of those investments; for securities that are publicly traded, a comparison to publicly-quoted share values where the share price is materially different from fair value. (c)........................ The types and nature of investments, including the amount that is: (1) Publicly traded; and (2) Non publicly traded. [[Page 510]] (d)........................ The cumulative realized gains (losses) arising from sales and liquidations in the reporting period. (e)........................ (1) Total unrealized gains (losses).\1\ (2) Total latent revaluation gains (losses).\2\ (3) Any amounts of the above included in tier 1 or tier 2 capital. (f)........................ Capital requirements categorized by appropriate equity groupings, consistent with the Board-regulated institution's methodology, as well as the aggregate amounts and the type of equity investments subject to any supervisory transition regarding regulatory capital requirements. ---------------------------------------------------------------------------------------------------------------- \1\ Unrealized gains (losses) recognized on the balance sheet but not through earnings. \2\ Unrealized gains (losses) not recognized either on the balance sheet or through earnings. Table 10 to Sec. 217.63--Interest Rate Risk for Non-Trading Activities ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement, including the nature of interest rate risk for non-trading activities and key assumptions, including assumptions regarding loan prepayments and behavior of non-maturity deposits, and frequency of measurement of interest rate risk for non-trading activities. Quantitative disclosures................ (b)........................ The increase (decline) in earnings or economic value (or relevant measure used by management) for upward and downward rate shocks according to management's method for measuring interest rate risk for non-trading activities, categorized by currency (as appropriate). ---------------------------------------------------------------------------------------------------------------- (d) A Category III Board-regulated institution that is required to publicly disclose its supplementary leverage ratio pursuant to Sec. 217.172(d) is subject to the supplementary leverage ratio disclosure requirement at Sec. 217.173(a)(2). (e) A Category III Board-regulated institution that is required to calculate a countercyclical capital buffer pursuant to Sec. 217.11 is subject to the disclosure requirement at Table 4 to Sec. 217.173, ``Capital Conservation and Countercyclical Capital Buffers,'' and not to the disclosure requirement at Table 4 to this section, ``Capital Conservation Buffer.'' [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 84 FR 4242, Feb. 14, 2019; 84 FR 35267, July 22, 2019; 84 FR 59271, Nov. 1, 2019] Sec. Sec. 217.64-217.99 [Reserved] Subpart E_Risk-Weighted Assets_Internal Ratings-Based and Advanced Measurement Approaches Sec. 217.100 Purpose, applicability, and principle of conservatism. (a) Purpose. This subpart E establishes: (1) Minimum qualifying criteria for Board-regulated institutions using institution-specific internal risk measurement and management processes for calculating risk-based capital requirements; and (2) Methodologies for such Board-regulated institutions to calculate their total risk-weighted assets. (b) Applicability. (1) This subpart applies to: (i) A top-tier bank holding company or savings and loan holding company domiciled in the United States that: (A) Is not a consolidated subsidiary of another bank holding company or savings and loan holding company that uses this subpart to calculate its risk-based capital requirements; and (B) That: (1) Is identified as a global systemically important BHC pursuant to Sec. 217.402; (2) Is identified as a Category II banking organization pursuant to 12 CFR 252.5 or 12 CFR 238.10; or (3) Has a subsidiary depository institution that is required, or has elected, to use 12 CFR part 3, subpart E (OCC), this subpart (Board), or 12 CFR part 324, subpart E (FDIC), to calculate its risk-based capital requirements; (ii) A state member bank that: (A) Is a subsidiary of a global systemically important BHC; (B) Is a Category II Board-regulated institution; (C) Is a subsidiary of a depository institution that uses 12 CFR part 3, subpart E (OCC), this subpart (Board), or 12 CFR part 324, subpart E (FDIC), to calculate its risk-based capital requirements; or [[Page 511]] (D) Is a subsidiary of a bank holding company or savings and loan holding company that uses this subpart to calculate its risk-based capital requirements; or (iii) Any Board-regulated institution that elects to use this subpart to calculate its risk-based capital requirements. (2) A market risk Board-regulated institution must exclude from its calculation of risk-weighted assets under this subpart the risk-weighted asset amounts of all covered positions, as defined in subpart F of this part (except foreign exchange positions that are not trading positions, over-the-counter derivative positions, cleared transactions, and unsettled transactions). (c) Principle of conservatism. Notwithstanding the requirements of this subpart, a Board-regulated institution may choose not to apply a provision of this subpart to one or more exposures provided that: (1) The Board-regulated institution can demonstrate on an ongoing basis to the satisfaction of the Board that not applying the provision would, in all circumstances, unambiguously generate a risk-based capital requirement for each such exposure greater than that which would otherwise be required under this subpart; (2) The Board-regulated institution appropriately manages the risk of each such exposure; (3) The Board-regulated institution notifies the Board in writing prior to applying this principle to each such exposure; and (4) The exposures to which the Board-regulated institution applies this principle are not, in the aggregate, material to the Board- regulated institution. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62288, Oct. 11, 2013; 80 FR 41419, July 15, 2015; 84 FR 59271, Nov. 1, 2019] Sec. 217.101 Definitions. (a) Terms that are set forth in Sec. 217.2 and used in this subpart have the definitions assigned thereto in Sec. 217.2. (b) For the purposes of this subpart, the following terms are defined as follows: Advanced internal ratings-based (IRB) systems means an advanced approaches Board-regulated institution's internal risk rating and segmentation system; risk parameter quantification system; data management and maintenance system; and control, oversight, and validation system for credit risk of wholesale and retail exposures. Advanced systems means an advanced approaches Board-regulated institution's advanced IRB systems, operational risk management processes, operational risk data and assessment systems, operational risk quantification systems, and, to the extent used by the Board- regulated institution, the internal models methodology, advanced CVA approach, double default excessive correlation detection process, and internal models approach (IMA) for equity exposures. Backtesting means the comparison of a Board-regulated institution's internal estimates with actual outcomes during a sample period not used in model development. In this context, backtesting is one form of out- of-sample testing. Benchmarking means the comparison of a Board-regulated institution's internal estimates with relevant internal and external data or with estimates based on other estimation techniques. Bond option contract means a bond option, bond future, or any other instrument linked to a bond that gives rise to similar counterparty credit risk. Business environment and internal control factors means the indicators of a Board-regulated institution's operational risk profile that reflect a current and forward-looking assessment of the Board- regulated institution's underlying business risk factors and internal control environment. Credit default swap (CDS) means a financial contract executed under standard industry documentation that allows one party (the protection purchaser) to transfer the credit risk of one or more exposures (reference exposure(s)) to another party (the protection provider) for a certain period of time. Credit valuation adjustment (CVA) means the fair value adjustment to reflect counterparty credit risk in valuation of OTC derivative contracts. Default--For the purposes of calculating capital requirements under this subpart: [[Page 512]] (1) Retail. (i) A retail exposure of a Board-regulated institution is in default if: (A) The exposure is 180 days past due, in the case of a residential mortgage exposure or revolving exposure; (B) The exposure is 120 days past due, in the case of retail exposures that are not residential mortgage exposures or revolving exposures; or (C) The Board-regulated institution has taken a full or partial charge-off, write-down of principal, or material negative fair value adjustment of principal on the exposure for credit-related reasons. (ii) Notwithstanding paragraph (1)(i) of this definition, for a retail exposure held by a non-U.S. subsidiary of the Board-regulated institution that is subject to an internal ratings-based approach to capital adequacy consistent with the Basel Committee on Banking Supervision's ``International Convergence of Capital Measurement and Capital Standards: A Revised Framework'' in a non-U.S. jurisdiction, the Board-regulated institution may elect to use the definition of default that is used in that jurisdiction, provided that the Board-regulated institution has obtained prior approval from the Board to use the definition of default in that jurisdiction. (iii) A retail exposure in default remains in default until the Board-regulated institution has reasonable assurance of repayment and performance for all contractual principal and interest payments on the exposure. (2) Wholesale. (i) A Board-regulated institution's wholesale obligor is in default if: (A) The Board-regulated institution determines that the obligor is unlikely to pay its credit obligations to the Board-regulated institution in full, without recourse by the Board-regulated institution to actions such as realizing collateral (if held); or (B) The obligor is past due more than 90 days on any material credit obligation(s) to the Board-regulated institution.\29\ --------------------------------------------------------------------------- \29\ Overdrafts are past due once the obligor has breached an advised limit or been advised of a limit smaller than the current outstanding balance. --------------------------------------------------------------------------- (ii) An obligor in default remains in default until the Board- regulated institution has reasonable assurance of repayment and performance for all contractual principal and interest payments on all exposures of the Board-regulated institution to the obligor (other than exposures that have been fully written-down or charged-off). Dependence means a measure of the association among operational losses across and within units of measure. Economic downturn conditions means, with respect to an exposure held by the Board-regulated institution, those conditions in which the aggregate default rates for that exposure's wholesale or retail exposure subcategory (or subdivision of such subcategory selected by the Board- regulated institution) in the exposure's national jurisdiction (or subdivision of such jurisdiction selected by the Board-regulated institution) are significantly higher than average. Effective maturity (M) of a wholesale exposure means: (1) For wholesale exposures other than repo-style transactions, eligible margin loans, and OTC derivative contracts described in paragraph (2) or (3) of this definition: (i) The weighted-average remaining maturity (measured in years, whole or fractional) of the expected contractual cash flows from the exposure, using the undiscounted amounts of the cash flows as weights; or (ii) The nominal remaining maturity (measured in years, whole or fractional) of the exposure. (2) For repo-style transactions, eligible margin loans, and OTC derivative contracts subject to a qualifying master netting agreement for which the Board-regulated institution does not apply the internal models approach in section 132(d), the weighted-average remaining maturity (measured in years, whole or fractional) of the individual transactions subject to the qualifying master netting agreement, with the weight of each individual transaction set equal to the notional amount of the transaction. (3) For repo-style transactions, eligible margin loans, and OTC derivative contracts for which the Board-regulated institution applies the internal [[Page 513]] models approach in Sec. 217.132(d), the value determined in Sec. 217.132(d)(4). Eligible double default guarantor, with respect to a guarantee or credit derivative obtained by a Board-regulated institution, means: (1) U.S.-based entities. A depository institution, a bank holding company, a savings and loan holding company, or a securities broker or dealer registered with the SEC under the Securities Exchange Act, if at the time the guarantee is issued or anytime thereafter, has issued and outstanding an unsecured debt security without credit enhancement that is investment grade. (2) Non-U.S.-based entities. A foreign bank, or a non-U.S.-based securities firm if the Board-regulated institution demonstrates that the guarantor is subject to consolidated supervision and regulation comparable to that imposed on U.S. depository institutions, or securities broker-dealers) if at the time the guarantee is issued or anytime thereafter, has issued and outstanding an unsecured debt security without credit enhancement that is investment grade. Eligible operational risk offsets means amounts, not to exceed expected operational loss, that: (1) Are generated by internal business practices to absorb highly predictable and reasonably stable operational losses, including reserves calculated consistent with GAAP; and (2) Are available to cover expected operational losses with a high degree of certainty over a one-year horizon. Eligible purchased wholesale exposure means a purchased wholesale exposure that: (1) The Board-regulated institution or securitization SPE purchased from an unaffiliated seller and did not directly or indirectly originate; (2) Was generated on an arm's-length basis between the seller and the obligor (intercompany accounts receivable and receivables subject to contra-accounts between firms that buy and sell to each other do not satisfy this criterion); (3) Provides the Board-regulated institution or securitization SPE with a claim on all proceeds from the exposure or a pro rata interest in the proceeds from the exposure; (4) Has an M of less than one year; and (5) When consolidated by obligor, does not represent a concentrated exposure relative to the portfolio of purchased wholesale exposures. Expected exposure (EE) means the expected value of the probability distribution of non-negative credit risk exposures to a counterparty at any specified future date before the maturity date of the longest term transaction in the netting set. Any negative fair values in the probability distribution of fair values to a counterparty at a specified future date are set to zero to convert the probability distribution of fair values to the probability distribution of credit risk exposures. Expected operational loss (EOL) means the expected value of the distribution of potential aggregate operational losses, as generated by the Board-regulated institution's operational risk quantification system using a one-year horizon. Expected positive exposure (EPE) means the weighted average over time of expected (non-negative) exposures to a counterparty where the weights are the proportion of the time interval that an individual expected exposure represents. When calculating risk-based capital requirements, the average is taken over a one-year horizon. Exposure at default (EAD) means: (1) For the on-balance sheet component of a wholesale exposure or segment of retail exposures (other than an OTC derivative contract, a repo-style transaction or eligible margin loan for which the Board- regulated institution determines EAD under Sec. 217.132, a cleared transaction, or default fund contribution), EAD means the Board- regulated institution's carrying value (including net accrued but unpaid interest and fees) for the exposure or segment less any allocated transfer risk reserve for the exposure or segment. (2) For the off-balance sheet component of a wholesale exposure or segment of retail exposures (other than an OTC derivative contract, a repo-style transaction or eligible margin loan for which the Board- regulated institution determines EAD under Sec. 217.132, cleared [[Page 514]] transaction, or default fund contribution) in the form of a loan commitment, line of credit, trade-related letter of credit, or transaction-related contingency, EAD means the Board-regulated institution's best estimate of net additions to the outstanding amount owed the Board-regulated institution, including estimated future additional draws of principal and accrued but unpaid interest and fees, that are likely to occur over a one-year horizon assuming the wholesale exposure or the retail exposures in the segment were to go into default. This estimate of net additions must reflect what would be expected during economic downturn conditions. For the purposes of this definition: (i) Trade-related letters of credit are short-term, self-liquidating instruments that are used to finance the movement of goods and are collateralized by the underlying goods. (ii) Transaction-related contingencies relate to a particular transaction and include, among other things, performance bonds and performance-based letters of credit. (3) For the off-balance sheet component of a wholesale exposure or segment of retail exposures (other than an OTC derivative contract, a repo-style transaction, or eligible margin loan for which the Board- regulated institution determines EAD under Sec. 217.132, cleared transaction, or default fund contribution) in the form of anything other than a loan commitment, line of credit, trade-related letter of credit, or transaction-related contingency, EAD means the notional amount of the exposure or segment. (4) EAD for OTC derivative contracts is calculated as described in Sec. 217.132. A Board-regulated institution also may determine EAD for repo-style transactions and eligible margin loans as described in Sec. 217.132. Exposure category means any of the wholesale, retail, securitization, or equity exposure categories. External operational loss event data means, with respect to a Board- regulated institution, gross operational loss amounts, dates, recoveries, and relevant causal information for operational loss events occurring at organizations other than the Board-regulated institution. IMM exposure means a repo-style transaction, eligible margin loan, or OTC derivative for which a Board-regulated institution calculates its EAD using the internal models methodology of Sec. 217.132(d). Internal operational loss event data means, with respect to a Board- regulated institution, gross operational loss amounts, dates, recoveries, and relevant causal information for operational loss events occurring at the Board-regulated institution. Loss given default (LGD) means: (1) For a wholesale exposure, the greatest of: (i) Zero; (ii) The Board-regulated institution's empirically based best estimate of the long-run default-weighted average economic loss, per dollar of EAD, the Board-regulated institution would expect to incur if the obligor (or a typical obligor in the loss severity grade assigned by the Board-regulated institution to the exposure) were to default within a one-year horizon over a mix of economic conditions, including economic downturn conditions; or (iii) The Board-regulated institution's empirically based best estimate of the economic loss, per dollar of EAD, the Board-regulated institution would expect to incur if the obligor (or a typical obligor in the loss severity grade assigned by the Board-regulated institution to the exposure) were to default within a one-year horizon during economic downturn conditions. (2) For a segment of retail exposures, the greatest of: (i) Zero; (ii) The Board-regulated institution's empirically based best estimate of the long-run default-weighted average economic loss, per dollar of EAD, the Board-regulated institution would expect to incur if the exposures in the segment were to default within a one-year horizon over a mix of economic conditions, including economic downturn conditions; or (iii) The Board-regulated institution's empirically based best estimate of the economic loss, per dollar of EAD, the Board-regulated institution would expect to incur if the exposures in the [[Page 515]] segment were to default within a one-year horizon during economic downturn conditions. (3) The economic loss on an exposure in the event of default is all material credit-related losses on the exposure (including accrued but unpaid interest or fees, losses on the sale of collateral, direct workout costs, and an appropriate allocation of indirect workout costs). Where positive or negative cash flows on a wholesale exposure to a defaulted obligor or a defaulted retail exposure (including proceeds from the sale of collateral, workout costs, additional extensions of credit to facilitate repayment of the exposure, and draw-downs of unused credit lines) occur after the date of default, the economic loss must reflect the net present value of cash flows as of the default date using a discount rate appropriate to the risk of the defaulted exposure. Obligor means the legal entity or natural person contractually obligated on a wholesale exposure, except that a Board-regulated institution may treat the following exposures as having separate obligors: (1) Exposures to the same legal entity or natural person denominated in different currencies; (2)(i) An income-producing real estate exposure for which all or substantially all of the repayment of the exposure is reliant on the cash flows of the real estate serving as collateral for the exposure; the Board-regulated institution, in economic substance, does not have recourse to the borrower beyond the real estate collateral; and no cross-default or cross-acceleration clauses are in place other than clauses obtained solely out of an abundance of caution; and (ii) Other credit exposures to the same legal entity or natural person; and (3)(i) A wholesale exposure authorized under section 364 of the U.S. Bankruptcy Code (11 U.S.C. 364) to a legal entity or natural person who is a debtor-in-possession for purposes of Chapter 11 of the Bankruptcy Code; and (ii) Other credit exposures to the same legal entity or natural person. Operational loss means a loss (excluding insurance or tax effects) resulting from an operational loss event. Operational loss includes all expenses associated with an operational loss event except for opportunity costs, forgone revenue, and costs related to risk management and control enhancements implemented to prevent future operational losses. Operational loss event means an event that results in loss and is associated with any of the following seven operational loss event type categories: (1) Internal fraud, which means the operational loss event type category that comprises operational losses resulting from an act involving at least one internal party of a type intended to defraud, misappropriate property, or circumvent regulations, the law, or company policy excluding diversity- and discrimination-type events. (2) External fraud, which means the operational loss event type category that comprises operational losses resulting from an act by a third party of a type intended to defraud, misappropriate property, or circumvent the law. Retail credit card losses arising from non- contractual, third-party-initiated fraud (for example, identity theft) are external fraud operational losses. All other third-party-initiated credit losses are to be treated as credit risk losses. (3) Employment practices and workplace safety, which means the operational loss event type category that comprises operational losses resulting from an act inconsistent with employment, health, or safety laws or agreements, payment of personal injury claims, or payment arising from diversity- and discrimination-type events. (4) Clients, products, and business practices, which means the operational loss event type category that comprises operational losses resulting from the nature or design of a product or from an unintentional or negligent failure to meet a professional obligation to specific clients (including fiduciary and suitability requirements). (5) Damage to physical assets, which means the operational loss event type category that comprises operational losses resulting from the loss of or damage to physical assets from natural disaster or other events. [[Page 516]] (6) Business disruption and system failures, which means the operational loss event type category that comprises operational losses resulting from disruption of business or system failures. (7) Execution, delivery, and process management, which means the operational loss event type category that comprises operational losses resulting from failed transaction processing or process management or losses arising from relations with trade counterparties and vendors. Operational risk means the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events (including legal risk but excluding strategic and reputational risk). Operational risk exposure means the 99.9th percentile of the distribution of potential aggregate operational losses, as generated by the Board-regulated institution's operational risk quantification system over a one-year horizon (and not incorporating eligible operational risk offsets or qualifying operational risk mitigants). Other retail exposure means an exposure (other than a securitization exposure, an equity exposure, a residential mortgage exposure, a pre- sold construction loan, a qualifying revolving exposure, or the residual value portion of a lease exposure) that is managed as part of a segment of exposures with homogeneous risk characteristics, not on an individual-exposure basis, and is either: (1) An exposure to an individual for non-business purposes; or (2) An exposure to an individual or company for business purposes if the Board-regulated institution's consolidated business credit exposure to the individual or company is $1 million or less. Probability of default (PD) means: (1) For a wholesale exposure to a non-defaulted obligor, the Board- regulated institution's empirically based best estimate of the long-run average one-year default rate for the rating grade assigned by the Board-regulated institution to the obligor, capturing the average default experience for obligors in the rating grade over a mix of economic conditions (including economic downturn conditions) sufficient to provide a reasonable estimate of the average one-year default rate over the economic cycle for the rating grade. (2) For a segment of non-defaulted retail exposures, the Board- regulated institution's empirically based best estimate of the long-run average one-year default rate for the exposures in the segment, capturing the average default experience for exposures in the segment over a mix of economic conditions (including economic downturn conditions) sufficient to provide a reasonable estimate of the average one-year default rate over the economic cycle for the segment. (3) For a wholesale exposure to a defaulted obligor or segment of defaulted retail exposures, 100 percent. Qualifying cross-product master netting agreement means a qualifying master netting agreement that provides for termination and close-out netting across multiple types of financial transactions or qualifying master netting agreements in the event of a counterparty's default, provided that the underlying financial transactions are OTC derivative contracts, eligible margin loans, or repo-style transactions. In order to treat an agreement as a qualifying cross-product master netting agreement for purposes of this subpart, a Board-regulated institution must comply with the requirements of Sec. 217.3(c) of this part with respect to that agreement. Qualifying revolving exposure (QRE) means an exposure (other than a securitization exposure or equity exposure) to an individual that is managed as part of a segment of exposures with homogeneous risk characteristics, not on an individual-exposure basis, and: (1) Is revolving (that is, the amount outstanding fluctuates, determined largely by a borrower's decision to borrow and repay up to a pre-established maximum amount, except for an outstanding amount that the borrower is required to pay in full every month); (2) Is unsecured and unconditionally cancelable by the Board- regulated institution to the fullest extent permitted by Federal law; and (3)(i) Has a maximum contractual exposure amount (drawn plus undrawn) of up to $100,000; or [[Page 517]] (ii) With respect to a product with an outstanding amount that the borrower is required to pay in full every month, the total outstanding amount does not in practice exceed $100,000. (4) A segment of exposures that contains one or more exposures that fails to meet paragraph (3)(ii) of this definition must be treated as a segment of other retail exposures for the 24 month period following the month in which the total outstanding amount of one or more exposures individually exceeds $100,000. Retail exposure means a residential mortgage exposure, a qualifying revolving exposure, or an other retail exposure. Retail exposure subcategory means the residential mortgage exposure, qualifying revolving exposure, or other retail exposure subcategory. Risk parameter means a variable used in determining risk-based capital requirements for wholesale and retail exposures, specifically probability of default (PD), loss given default (LGD), exposure at default (EAD), or effective maturity (M). Scenario analysis means a systematic process of obtaining expert opinions from business managers and risk management experts to derive reasoned assessments of the likelihood and loss impact of plausible high-severity operational losses. Scenario analysis may include the well-reasoned evaluation and use of external operational loss event data, adjusted as appropriate to ensure relevance to a Board-regulated institution's operational risk profile and control structure. Total wholesale and retail risk-weighted assets means the sum of: (1) Risk-weighted assets for wholesale exposures that are not IMM exposures, cleared transactions, or default fund contributions to non- defaulted obligors and segments of non-defaulted retail exposures; (2) Risk-weighted assets for wholesale exposures to defaulted obligors and segments of defaulted retail exposures; (3) Risk-weighted assets for assets not defined by an exposure category; (4) Risk-weighted assets for non-material portfolios of exposures; (5) Risk-weighted assets for IMM exposures (as determined in Sec. 217.132(d)); (6) Risk-weighted assets for cleared transactions and risk-weighted assets for default fund contributions (as determined in Sec. 217.133); and (7) Risk-weighted assets for unsettled transactions (as determined in Sec. 217.136). Unexpected operational loss (UOL) means the difference between the Board-regulated institution's operational risk exposure and the Board- regulated institution's expected operational loss. Unit of measure means the level (for example, organizational unit or operational loss event type) at which the Board-regulated institution's operational risk quantification system generates a separate distribution of potential operational losses. Wholesale exposure means a credit exposure to a company, natural person, sovereign, or governmental entity (other than a securitization exposure, retail exposure, pre-sold construction loan, or equity exposure). Wholesale exposure subcategory means the HVCRE or non-HVCRE wholesale exposure subcategory. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 78295, Dec. 30, 2014] Sec. Sec. 217.102-217.120 [Reserved] Qualification Sec. 217.121 Qualification process. (a) Timing. (1) A Board-regulated institution that is described in Sec. 217.100(b)(1)(i) and (ii) must adopt a written implementation plan no later than six months after the date the Board-regulated institution meets a criterion in that section. The implementation plan must incorporate an explicit start date no later than 36 months after the date the Board-regulated institution meets at least one criterion under Sec. 217.100(b)(1)(i) and (ii). The Board may extend the start date. (2) A Board-regulated institution that elects to be subject to this subpart under Sec. 217.101(b)(1)(iii) must adopt a written implementation plan. (b) Implementation plan. (1) The Board-regulated institution's implementation plan must address in detail [[Page 518]] how the Board-regulated institution complies, or plans to comply, with the qualification requirements in Sec. 217.122. The Board-regulated institution also must maintain a comprehensive and sound planning and governance process to oversee the implementation efforts described in the plan. At a minimum, the plan must: (i) Comprehensively address the qualification requirements in Sec. 217.122 for the Board-regulated institution and each consolidated subsidiary (U.S. and foreign-based) of the Board-regulated institution with respect to all portfolios and exposures of the Board-regulated institution and each of its consolidated subsidiaries; (ii) Justify and support any proposed temporary or permanent exclusion of business lines, portfolios, or exposures from the application of the advanced approaches in this subpart (which business lines, portfolios, and exposures must be, in the aggregate, immaterial to the Board-regulated institution); (iii) Include the Board-regulated institution's self-assessment of: (A) The Board-regulated institution's current status in meeting the qualification requirements in Sec. 217.122; and (B) The consistency of the Board-regulated institution's current practices with the Board's supervisory guidance on the qualification requirements; (iv) Based on the Board-regulated institution's self-assessment, identify and describe the areas in which the Board-regulated institution proposes to undertake additional work to comply with the qualification requirements in Sec. 217.122 or to improve the consistency of the Board-regulated institution's current practices with the Board's supervisory guidance on the qualification requirements (gap analysis); (v) Describe what specific actions the Board-regulated institution will take to address the areas identified in the gap analysis required by paragraph (b)(1)(iv) of this section; (vi) Identify objective, measurable milestones, including delivery dates and a date when the Board-regulated institution's implementation of the methodologies described in this subpart will be fully operational; (vii) Describe resources that have been budgeted and are available to implement the plan; and (viii) Receive approval of the Board-regulated institution's board of directors. (2) The Board-regulated institution must submit the implementation plan, together with a copy of the minutes of the board of directors' approval, to the Board at least 60 days before the Board-regulated institution proposes to begin its parallel run, unless the Board waives prior notice. (c) Parallel run. Before determining its risk-weighted assets under this subpart and following adoption of the implementation plan, the Board-regulated institution must conduct a satisfactory parallel run. A satisfactory parallel run is a period of no less than four consecutive calendar quarters during which the Board-regulated institution complies with the qualification requirements in Sec. 217.122 to the satisfaction of the Board. During the parallel run, the Board-regulated institution must report to the Board on a calendar quarterly basis its risk-based capital ratios determined in accordance with Sec. 217.10(b)(1) through (3) and Sec. 217.10(d)(1) through (3). During this period, the Board- regulated institution's minimum risk-based capital ratios are determined as set forth in subpart D of this part. (d) Approval to calculate risk-based capital requirements under this subpart. The Board will notify the Board-regulated institution of the date that the Board-regulated institution must begin to use this subpart for purposes of Sec. 217.10 if the Board determines that: (1) The Board-regulated institution fully complies with all the qualification requirements in Sec. 217.122; (2) The Board-regulated institution has conducted a satisfactory parallel run under paragraph (c) of this section; and (3) The Board-regulated institution has an adequate process to ensure ongoing compliance with the qualification requirements in Sec. 217.122. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62288, Oct. 11, 2013; 86 FR 738, Jan. 6, 2021] [[Page 519]] Sec. 217.122 Qualification requirements. (a) Process and systems requirements. (1) A Board-regulated institution must have a rigorous process for assessing its overall capital adequacy in relation to its risk profile and a comprehensive strategy for maintaining an appropriate level of capital. (2) The systems and processes used by a Board-regulated institution for risk-based capital purposes under this subpart must be consistent with the Board-regulated institution's internal risk management processes and management information reporting systems. (3) Each Board-regulated institution must have an appropriate infrastructure with risk measurement and management processes that meet the qualification requirements of this section and are appropriate given the Board-regulated institution's size and level of complexity. Regardless of whether the systems and models that generate the risk parameters necessary for calculating a Board-regulated institution's risk-based capital requirements are located at any affiliate of the Board-regulated institution, the Board-regulated institution itself must ensure that the risk parameters and reference data used to determine its risk-based capital requirements are representative of long run experience with respect to its own credit risk and operational risk exposures. (b) Risk rating and segmentation systems for wholesale and retail exposures. (1)(i) A Board-regulated institution must have an internal risk rating and segmentation system that accurately, reliably, and meaningfully differentiates among degrees of credit risk for the Board- regulated institution's wholesale and retail exposures. When assigning an internal risk rating, a Board-regulated institution may consider a third-party assessment of credit risk, provided that the Board-regulated institution's internal risk rating assignment does not rely solely on the external assessment. (ii) If a Board-regulated institution uses multiple rating or segmentation systems, the Board-regulated institution's rationale for assigning an obligor or exposure to a particular system must be documented and applied in a manner that best reflects the obligor or exposure's level of risk. A Board-regulated institution must not inappropriately allocate obligors or exposures across systems to minimize regulatory capital requirements. (iii) In assigning ratings to wholesale obligors and exposures, including loss severity ratings grades to wholesale exposures, and assigning retail exposures to retail segments, a Board-regulated institution must use all relevant and material information and ensure that the information is current. (iv) When assigning an obligor to a PD rating or retail exposure to a PD segment, a Board-regulated institution must assess the obligor or retail borrower's ability and willingness to contractually perform, taking a conservative view of projected information. (2) For wholesale exposures: (i) A Board-regulated institution must have an internal risk rating system that accurately and reliably assigns each obligor to a single rating grade (reflecting the obligor's likelihood of default). A Board- regulated institution may elect, however, not to assign to a rating grade an obligor to whom the Board-regulated institution extends credit based solely on the financial strength of a guarantor, provided that all of the Board-regulated institution's exposures to the obligor are fully covered by eligible guarantees, the Board-regulated institution applies the PD substitution approach in Sec. 217.134(c)(1) to all exposures to that obligor, and the Board-regulated institution immediately assigns the obligor to a rating grade if a guarantee can no longer be recognized under this part. The Board-regulated institution's wholesale obligor rating system must have at least seven discrete rating grades for non- defaulted obligors and at least one rating grade for defaulted obligors. (ii) Unless the Board-regulated institution has chosen to directly assign LGD estimates to each wholesale exposure, the Board-regulated institution must have an internal risk rating system that accurately and reliably assigns each wholesale exposure to a loss severity rating grade (reflecting the Board-regulated institution's estimate of the LGD of the exposure). A Board- [[Page 520]] regulated institution employing loss severity rating grades must have a sufficiently granular loss severity grading system to avoid grouping together exposures with widely ranging LGDs. (iii) A Board-regulated institution must have an effective process to obtain and update in a timely manner relevant and material information on obligor and exposure characteristics that affect PD, LGD and EAD. (3) For retail exposures: (i) A Board-regulated institution must have an internal system that groups retail exposures into the appropriate retail exposure subcategory and groups the retail exposures in each retail exposure subcategory into separate segments with homogeneous risk characteristics that provide a meaningful differentiation of risk. The Board-regulated institution's system must identify and group in separate segments by subcategories exposures identified in Sec. 217.131(c)(2)(ii) and (iii). (ii) A Board-regulated institution must have an internal system that captures all relevant exposure risk characteristics, including borrower credit score, product and collateral types, as well as exposure delinquencies, and must consider cross-collateral provisions, where present. (iii) The Board-regulated institution must review and, if appropriate, update assignments of individual retail exposures to segments and the loss characteristics and delinquency status of each identified risk segment. These reviews must occur whenever the Board- regulated institution receives new material information, but generally no less frequently than quarterly, and, in all cases, at least annually. (4) The Board-regulated institution's internal risk rating policy for wholesale exposures must describe the Board-regulated institution's rating philosophy (that is, must describe how wholesale obligor rating assignments are affected by the Board-regulated institution's choice of the range of economic, business, and industry conditions that are considered in the obligor rating process). (5) The Board-regulated institution's internal risk rating system for wholesale exposures must provide for the review and update (as appropriate) of each obligor rating and (if applicable) each loss severity rating whenever the Board-regulated institution obtains relevant and material information on the obligor or exposure that affects PD, LGD and EAD, but no less frequently than annually. (c) Quantification of risk parameters for wholesale and retail exposures. (1) The Board-regulated institution must have a comprehensive risk parameter quantification process that produces accurate, timely, and reliable estimates of the risk parameters on a consistent basis for the Board-regulated institution's wholesale and retail exposures. (2) A Board-regulated institution's estimates of PD, LGD, and EAD must incorporate all relevant, material, and available data that is reflective of the Board-regulated institution's actual wholesale and retail exposures and of sufficient quality to support the determination of risk-based capital requirements for the exposures. In particular, the population of exposures in the data used for estimation purposes, the lending standards in use when the data were generated, and other relevant characteristics, should closely match or be comparable to the Board-regulated institution's exposures and standards. In addition, a Board-regulated institution must: (i) Demonstrate that its estimates are representative of long run experience, including periods of economic downturn conditions, whether internal or external data are used; (ii) Take into account any changes in lending practice or the process for pursuing recoveries over the observation period; (iii) Promptly reflect technical advances, new data, and other information as they become available; (iv) Demonstrate that the data used to estimate risk parameters support the accuracy and robustness of those estimates; and (v) Demonstrate that its estimation technique performs well in out- of-sample tests whenever possible. (3) The Board-regulated institution's risk parameter quantification process must produce appropriately conservative risk parameter estimates where the Board-regulated institution has [[Page 521]] limited relevant data, and any adjustments that are part of the quantification process must not result in a pattern of bias toward lower risk parameter estimates. (4) The Board-regulated institution's risk parameter estimation process should not rely on the possibility of U.S. government financial assistance, except for the financial assistance that the U.S. government has a legally binding commitment to provide. (5) The Board-regulated institution must be able to demonstrate which variables have been found to be statistically significant with regard to EAD. The Board-regulated institution's EAD estimates must reflect its specific policies and strategies with regard to account management, including account monitoring and payment processing, and its ability and willingness to prevent further drawdowns in circumstances short of payment default. The Board-regulated institution must have adequate systems and procedures in place to monitor current outstanding amounts against committed lines, and changes in outstanding amounts per obligor and obligor rating grade and per retail segment. The Board- regulated institution must be able to monitor outstanding amounts on a daily basis. (6) At a minimum, PD estimates for wholesale obligors and retail segments must be based on at least five years of default data. LGD estimates for wholesale exposures must be based on at least seven years of loss severity data, and LGD estimates for retail segments must be based on at least five years of loss severity data. EAD estimates for wholesale exposures must be based on at least seven years of exposure amount data, and EAD estimates for retail segments must be based on at least five years of exposure amount data. If the Board-regulated institution has relevant and material reference data that span a longer period of time than the minimum time periods specified above, the Board- regulated institution must incorporate such data in its estimates, provided that it does not place undue weight on periods of favorable or benign economic conditions relative to periods of economic downturn conditions. (7) Default, loss severity, and exposure amount data must include periods of economic downturn conditions, or the Board-regulated institution must adjust its estimates of risk parameters to compensate for the lack of data from periods of economic downturn conditions. (8) The Board-regulated institution's PD, LGD, and EAD estimates must be based on the definition of default in Sec. 217.101. (9) If a Board-regulated institution uses internal data obtained prior to becoming subject to this subpart E or external data to arrive at PD, LGD, or EAD estimates, the Board-regulated institution must demonstrate to the Board that the Board-regulated institution has made appropriate adjustments if necessary to be consistent with the definition of default in Sec. 217.101. Internal data obtained after the Board-regulated institution becomes subject to this subpart E must be consistent with the definition of default in Sec. 217.101. (10) The Board-regulated institution must review and update (as appropriate) its risk parameters and its risk parameter quantification process at least annually. (11) The Board-regulated institution must, at least annually, conduct a comprehensive review and analysis of reference data to determine relevance of the reference data to the Board-regulated institution's exposures, quality of reference data to support PD, LGD, and EAD estimates, and consistency of reference data to the definition of default in Sec. 217.101. (d) Counterparty credit risk model. A Board-regulated institution must obtain the prior written approval of the Board under Sec. 217.132 to use the internal models methodology for counterparty credit risk and the advanced CVA approach for the CVA capital requirement. (e) Double default treatment. A Board-regulated institution must obtain the prior written approval of the Board under Sec. 217.135 to use the double default treatment. (f) Equity exposures model. A Board-regulated institution must obtain the prior written approval of the Board [[Page 522]] under Sec. 217.153 to use the internal models approach for equity exposures. (g) Operational risk. (1) Operational risk management processes. A Board-regulated institution must: (i) Have an operational risk management function that: (A) Is independent of business line management; and (B) Is responsible for designing, implementing, and overseeing the Board-regulated institution's operational risk data and assessment systems, operational risk quantification systems, and related processes; (ii) Have and document a process (which must capture business environment and internal control factors affecting the Board-regulated institution's operational risk profile) to identify, measure, monitor, and control operational risk in the Board-regulated institution's products, activities, processes, and systems; and (iii) Report operational risk exposures, operational loss events, and other relevant operational risk information to business unit management, senior management, and the board of directors (or a designated committee of the board). (2) Operational risk data and assessment systems. A Board-regulated institution must have operational risk data and assessment systems that capture operational risks to which the Board-regulated institution is exposed. The Board-regulated institution's operational risk data and assessment systems must: (i) Be structured in a manner consistent with the Board-regulated institution's current business activities, risk profile, technological processes, and risk management processes; and (ii) Include credible, transparent, systematic, and verifiable processes that incorporate the following elements on an ongoing basis: (A) Internal operational loss event data. The Board-regulated institution must have a systematic process for capturing and using internal operational loss event data in its operational risk data and assessment systems. (1) The Board-regulated institution's operational risk data and assessment systems must include a historical observation period of at least five years for internal operational loss event data (or such shorter period approved by the Board to address transitional situations, such as integrating a new business line). (2) The Board-regulated institution must be able to map its internal operational loss event data into the seven operational loss event type categories. (3) The Board-regulated institution may refrain from collecting internal operational loss event data for individual operational losses below established dollar threshold amounts if the Board-regulated institution can demonstrate to the satisfaction of the Board that the thresholds are reasonable, do not exclude important internal operational loss event data, and permit the Board-regulated institution to capture substantially all the dollar value of the Board-regulated institution's operational losses. (B) External operational loss event data. The Board-regulated institution must have a systematic process for determining its methodologies for incorporating external operational loss event data into its operational risk data and assessment systems. (C) Scenario analysis. The Board-regulated institution must have a systematic process for determining its methodologies for incorporating scenario analysis into its operational risk data and assessment systems. (D) Business environment and internal control factors. The Board- regulated institution must incorporate business environment and internal control factors into its operational risk data and assessment systems. The Board-regulated institution must also periodically compare the results of its prior business environment and internal control factor assessments against its actual operational losses incurred in the intervening period. (3) Operational risk quantification systems. (i) The Board-regulated institution's operational risk quantification systems: (A) Must generate estimates of the Board-regulated institution's operational risk exposure using its operational risk data and assessment systems; [[Page 523]] (B) Must employ a unit of measure that is appropriate for the Board- regulated institution's range of business activities and the variety of operational loss events to which it is exposed, and that does not combine business activities or operational loss events with demonstrably different risk profiles within the same loss distribution; (C) Must include a credible, transparent, systematic, and verifiable approach for weighting each of the four elements, described in paragraph (g)(2)(ii) of this section, that a Board-regulated institution is required to incorporate into its operational risk data and assessment systems; (D) May use internal estimates of dependence among operational losses across and within units of measure if the Board-regulated institution can demonstrate to the satisfaction of the Board that its process for estimating dependence is sound, robust to a variety of scenarios, and implemented with integrity, and allows for uncertainty surrounding the estimates. If the Board-regulated institution has not made such a demonstration, it must sum operational risk exposure estimates across units of measure to calculate its total operational risk exposure; and (E) Must be reviewed and updated (as appropriate) whenever the Board-regulated institution becomes aware of information that may have a material effect on the Board-regulated institution's estimate of operational risk exposure, but the review and update must occur no less frequently than annually. (ii) With the prior written approval of the Board, a state member bank may generate an estimate of its operational risk exposure using an alternative approach to that specified in paragraph (g)(3)(i) of this section. A state member bank proposing to use such an alternative operational risk quantification system must submit a proposal to the Board. In determining whether to approve a state member bank's proposal to use an alternative operational risk quantification system, the Board will consider the following principles: (A) Use of the alternative operational risk quantification system will be allowed only on an exception basis, considering the size, complexity, and risk profile of the state member bank; (B) The state member bank must demonstrate that its estimate of its operational risk exposure generated under the alternative operational risk quantification system is appropriate and can be supported empirically; and (C) A state member bank must not use an allocation of operational risk capital requirements that includes entities other than depository institutions or the benefits of diversification across entities. (h) Data management and maintenance. (1) A Board-regulated institution must have data management and maintenance systems that adequately support all aspects of its advanced systems and the timely and accurate reporting of risk-based capital requirements. (2) A Board-regulated institution must retain data using an electronic format that allows timely retrieval of data for analysis, validation, reporting, and disclosure purposes. (3) A Board-regulated institution must retain sufficient data elements related to key risk drivers to permit adequate monitoring, validation, and refinement of its advanced systems. (i) Control, oversight, and validation mechanisms. (1) The Board- regulated institution's senior management must ensure that all components of the Board-regulated institution's advanced systems function effectively and comply with the qualification requirements in this section. (2) The Board-regulated institution's board of directors (or a designated committee of the board) must at least annually review the effectiveness of, and approve, the Board-regulated institution's advanced systems. (3) A Board-regulated institution must have an effective system of controls and oversight that: (i) Ensures ongoing compliance with the qualification requirements in this section; (ii) Maintains the integrity, reliability, and accuracy of the Board-regulated institution's advanced systems; and (iii) Includes adequate governance and project management processes. (4) The Board-regulated institution must validate, on an ongoing basis, its [[Page 524]] advanced systems. The Board-regulated institution's validation process must be independent of the advanced systems' development, implementation, and operation, or the validation process must be subjected to an independent review of its adequacy and effectiveness. Validation must include: (i) An evaluation of the conceptual soundness of (including developmental evidence supporting) the advanced systems; (ii) An ongoing monitoring process that includes verification of processes and benchmarking; and (iii) An outcomes analysis process that includes backtesting. (5) The Board-regulated institution must have an internal audit function or equivalent function that is independent of business-line management that at least annually: (i) Reviews the Board-regulated institution's advanced systems and associated operations, including the operations of its credit function and estimations of PD, LGD, and EAD; (ii) Assesses the effectiveness of the controls supporting the Board-regulated institution's advanced systems; and (iii) Documents and reports its findings to the Board-regulated institution's board of directors (or a committee thereof). (6) The Board-regulated institution must periodically stress test its advanced systems. The stress testing must include a consideration of how economic cycles, especially downturns, affect risk-based capital requirements (including migration across rating grades and segments and the credit risk mitigation benefits of double default treatment). (j) Documentation. The Board-regulated institution must adequately document all material aspects of its advanced systems. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013; 80 FR 41419, July 15, 2015] Sec. 217.123 Ongoing qualification. (a) Changes to advanced systems. A Board-regulated institution must meet all the qualification requirements in Sec. 217.122 on an ongoing basis. A Board-regulated institution must notify the Board when the Board-regulated institution makes any change to an advanced system that would result in a material change in the Board-regulated institution's advanced approaches total risk-weighted asset amount for an exposure type or when the Board-regulated institution makes any significant change to its modeling assumptions. (b) Failure to comply with qualification requirements. (1) If the Board determines that a Board-regulated institution that uses this subpart and that has conducted a satisfactory parallel run fails to comply with the qualification requirements in Sec. 217.122, the Board will notify the Board-regulated institution in writing of the Board- regulated institution's failure to comply. (2) The Board-regulated institution must establish and submit a plan satisfactory to the Board to return to compliance with the qualification requirements. (3) In addition, if the Board determines that the Board-regulated institution's advanced approaches total risk-weighted assets are not commensurate with the Board-regulated institution's credit, market, operational, or other risks, the Board may require such a Board- regulated institution to calculate its advanced approaches total risk- weighted assets with any modifications provided by the Board. Sec. 217.124 Merger and acquisition transitional arrangements. (a) Mergers and acquisitions of companies without advanced systems. If a Board-regulated institution merges with or acquires a company that does not calculate its risk-based capital requirements using advanced systems, the Board-regulated institution may use subpart D of this part to determine the risk-weighted asset amounts for the merged or acquired company's exposures for up to 24 months after the calendar quarter during which the merger or acquisition consummates. The Board may extend this transition period for up to an additional 12 months. Within 90 days of consummating the merger or acquisition, the Board-regulated institution must submit to the Board an implementation plan for using its advanced systems for [[Page 525]] the acquired company. During the period in which subpart D of this part applies to the merged or acquired company, any ALLL or AACL, as applicable, net of allocated transfer risk reserves established pursuant to 12 U.S.C. 3904, associated with the merged or acquired company's exposures may be included in the acquiring Board-regulated institution's tier 2 capital up to 1.25 percent of the acquired company's risk- weighted assets. All general allowances of the merged or acquired company must be excluded from the Board-regulated institution's eligible credit reserves. In addition, the risk-weighted assets of the merged or acquired company are not included in the Board-regulated institution's credit-risk-weighted assets but are included in total risk-weighted assets. If a Board-regulated institution relies on this paragraph (a), the Board-regulated institution must disclose publicly the amounts of risk-weighted assets and qualifying capital calculated under this subpart for the acquiring Board-regulated institution and under subpart D of this part for the acquired company. (b) Mergers and acquisitions of companies with advanced systems. (1) If a Board-regulated institution merges with or acquires a company that calculates its risk-based capital requirements using advanced systems, the Board-regulated institution may use the acquired company's advanced systems to determine total risk-weighted assets for the merged or acquired company's exposures for up to 24 months after the calendar quarter during which the acquisition or merger consummates. The Board may extend this transition period for up to an additional 12 months. Within 90 days of consummating the merger or acquisition, the Board- regulated institution must submit to the Board an implementation plan for using its advanced systems for the merged or acquired company. (2) If the acquiring Board-regulated institution is not subject to the advanced approaches in this subpart at the time of acquisition or merger, during the period when subpart D of this part applies to the acquiring Board-regulated institution, the ALLL or AACL, as applicable, associated with the exposures of the merged or acquired company may not be directly included in tier 2 capital. Rather, any excess eligible credit reserves associated with the merged or acquired company's exposures may be included in the Board-regulated institution's tier 2 capital up to 0.6 percent of the credit-risk-weighted assets associated with those exposures. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 84 FR 4242, Feb. 14, 2019] Sec. Sec. 217.125-217.130 [Reserved] Risk-Weighted Assets for General Credit Risk Sec. 217.131 Mechanics for calculating total wholesale and retail risk-weighted assets. (a) Overview. A Board-regulated institution must calculate its total wholesale and retail risk-weighted asset amount in four distinct phases: (1) Phase 1--categorization of exposures; (2) Phase 2--assignment of wholesale obligors and exposures to rating grades and segmentation of retail exposures; (3) Phase 3--assignment of risk parameters to wholesale exposures and segments of retail exposures; and (4) Phase 4--calculation of risk-weighted asset amounts. (b) Phase 1--Categorization. The Board-regulated institution must determine which of its exposures are wholesale exposures, retail exposures, securitization exposures, or equity exposures. The Board- regulated institution must categorize each retail exposure as a residential mortgage exposure, a QRE, or another retail exposure. The Board-regulated institution must identify which wholesale exposures are HVCRE exposures, sovereign exposures, OTC derivative contracts, repo- style transactions, eligible margin loans, eligible purchased wholesale exposures, cleared transactions, default fund contributions, and unsettled transactions to which Sec. 217.136 applies, and eligible guarantees or eligible credit derivatives that are used as credit risk mitigants. The Board-regulated institution must identify any on-balance sheet asset that does not meet the definition of a wholesale, retail, equity, or [[Page 526]] securitization exposure, any non-material portfolio of exposures described in paragraph (e)(4) of this section, and for bank holding companies and savings and loan holding companies, any on-balance sheet asset that is held in a non-guaranteed separate account. (c) Phase 2--Assignment of wholesale obligors and exposures to rating grades and retail exposures to segments--(1) Assignment of wholesale obligors and exposures to rating grades. (i) The Board-regulated institution must assign each obligor of a wholesale exposure to a single obligor rating grade and must assign each wholesale exposure to which it does not directly assign an LGD estimate to a loss severity rating grade. (ii) The Board-regulated institution must identify which of its wholesale obligors are in default. (2) Segmentation of retail exposures. (i) The Board-regulated institution must group the retail exposures in each retail subcategory into segments that have homogeneous risk characteristics. (ii) The Board-regulated institution must identify which of its retail exposures are in default. The Board-regulated institution must segment defaulted retail exposures separately from non-defaulted retail exposures. (iii) If the Board-regulated institution determines the EAD for eligible margin loans using the approach in Sec. 217.132(b), the Board- regulated institution must identify which of its retail exposures are eligible margin loans for which the Board-regulated institution uses this EAD approach and must segment such eligible margin loans separately from other retail exposures. (3) Eligible purchased wholesale exposures. A Board-regulated institution may group its eligible purchased wholesale exposures into segments that have homogeneous risk characteristics. A Board-regulated institution must use the wholesale exposure formula in Table 1 of this section to determine the risk-based capital requirement for each segment of eligible purchased wholesale exposures. (d) Phase 3--Assignment of risk parameters to wholesale exposures and segments of retail exposures--(1) Quantification process. Subject to the limitations in this paragraph (d), the Board-regulated institution must: (i) Associate a PD with each wholesale obligor rating grade; (ii) Associate an LGD with each wholesale loss severity rating grade or assign an LGD to each wholesale exposure; (iii) Assign an EAD and M to each wholesale exposure; and (iv) Assign a PD, LGD, and EAD to each segment of retail exposures. (2) Floor on PD assignment. The PD for each wholesale obligor or retail segment may not be less than 0.03 percent, except for exposures to or directly and unconditionally guaranteed by a sovereign entity, the Bank for International Settlements, the International Monetary Fund, the European Commission, the European Central Bank, the European Stability Mechanism, the European Financial Stability Facility, or a multilateral development bank, to which the Board-regulated institution assigns a rating grade associated with a PD of less than 0.03 percent. (3) Floor on LGD estimation. The LGD for each segment of residential mortgage exposures may not be less than 10 percent, except for segments of residential mortgage exposures for which all or substantially all of the principal of each exposure is either: (i) Directly and unconditionally guaranteed by the full faith and credit of a sovereign entity; or (ii) Guaranteed by a contingent obligation of the U.S. government or its agencies, the enforceability of which is dependent upon some affirmative action on the part of the beneficiary of the guarantee or a third party (for example, meeting servicing requirements). (4) Eligible purchased wholesale exposures. A Board-regulated institution must assign a PD, LGD, EAD, and M to each segment of eligible purchased wholesale exposures. If the Board-regulated institution can estimate ECL (but not PD or LGD) for a segment of eligible purchased wholesale exposures, the Board-regulated institution must assume that the LGD of the segment equals 100 percent and that the PD of the segment equals ECL divided by [[Page 527]] EAD. The estimated ECL must be calculated for the exposures without regard to any assumption of recourse or guarantees from the seller or other parties. (5) Credit risk mitigation: credit derivatives, guarantees, and collateral. (i) A Board-regulated institution may take into account the risk reducing effects of eligible guarantees and eligible credit derivatives in support of a wholesale exposure by applying the PD substitution or LGD adjustment treatment to the exposure as provided in Sec. 217.134 or, if applicable, applying double default treatment to the exposure as provided in Sec. 217.135. A Board-regulated institution may decide separately for each wholesale exposure that qualifies for the double default treatment under Sec. 217.135 whether to apply the double default treatment or to use the PD substitution or LGD adjustment treatment without recognizing double default effects. (ii) A Board-regulated institution may take into account the risk reducing effects of guarantees and credit derivatives in support of retail exposures in a segment when quantifying the PD and LGD of the segment. In doing so, a Board-regulated institution must consider all relevant available information. (iii) Except as provided in paragraph (d)(6) of this section, a Board-regulated institution may take into account the risk reducing effects of collateral in support of a wholesale exposure when quantifying the LGD of the exposure, and may take into account the risk reducing effects of collateral in support of retail exposures when quantifying the PD and LGD of the segment. In order to do so, a Board- regulated institution must have established internal requirements for collateral management, legal certainty, and risk management processes. (6) EAD for OTC derivative contracts, repo-style transactions, and eligible margin loans. A Board-regulated institution must calculate its EAD for an OTC derivative contract as provided in Sec. 217.132 (c) and (d). A Board-regulated institution may take into account the risk- reducing effects of financial collateral in support of a repo-style transaction or eligible margin loan and of any collateral in support of a repo-style transaction that is included in the Board-regulated institution's VaR-based measure under subpart F of this part through an adjustment to EAD as provided in Sec. 217.132(b) and (d). A Board- regulated institution that takes collateral into account through such an adjustment to EAD under Sec. 217.132 may not reflect such collateral in LGD. (7) Effective maturity. An exposure's M must be no greater than five years and no less than one year, except that an exposure's M must be no less than one day if the exposure is a trade related letter of credit, or if the exposure has an original maturity of less than one year and is not part of a Board-regulated institution's ongoing financing of the obligor. An exposure is not part of a Board-regulated institution's ongoing financing of the obligor if the Board-regulated institution: (i) Has a legal and practical ability not to renew or roll over the exposure in the event of credit deterioration of the obligor; (ii) Makes an independent credit decision at the inception of the exposure and at every renewal or roll over; and (iii) Has no substantial commercial incentive to continue its credit relationship with the obligor in the event of credit deterioration of the obligor. (8) EAD for exposures to certain central counterparties. A Board- regulated institution may attribute an EAD of zero to exposures that arise from the settlement of cash transactions (such as equities, fixed income, spot foreign exchange, and spot commodities) with a central counterparty where there is no assumption of ongoing counterparty credit risk by the central counterparty after settlement of the trade and associated default fund contributions. (e) Phase 4--Calculation of risk-weighted assets--(1) Non-defaulted exposures. (i) A Board-regulated institution must calculate the dollar risk-based capital requirement for each of its wholesale exposures to a non-defaulted obligor (except for eligible guarantees and eligible credit derivatives that hedge another wholesale exposure, IMM exposures, cleared transactions, default fund contributions, unsettled transactions, and exposures to which the Board-regulated institution applies the [[Page 528]] double default treatment in Sec. 217.135) and segments of non-defaulted retail exposures by inserting the assigned risk parameters for the wholesale obligor and exposure or retail segment into the appropriate risk-based capital formula specified in Table 1 and multiplying the output of the formula (K) by the EAD of the exposure or segment. Alternatively, a Board-regulated institution may apply a 300 percent risk weight to the EAD of an eligible margin loan if the Board-regulated institution is not able to meet the Board's requirements for estimation of PD and LGD for the margin loan. [GRAPHIC] [TIFF OMITTED] TR11OC13.028 [[Page 529]] [GRAPHIC] [TIFF OMITTED] TR11OC13.029 (ii) The sum of all the dollar risk-based capital requirements for each wholesale exposure to a non-defaulted obligor and segment of non- defaulted retail exposures calculated in paragraph (e)(1)(i) of this section and in Sec. 217.135(e) equals the total dollar risk-based capital requirement for those exposures and segments. (iii) The aggregate risk-weighted asset amount for wholesale exposures to non-defaulted obligors and segments of non-defaulted retail exposures equals the total dollar risk-based capital requirement in paragraph (e)(1)(ii) of this section multiplied by 12.5. (2) Wholesale exposures to defaulted obligors and segments of defaulted retail exposures--(i) Not covered by an eligible U.S. government guarantee: The dollar risk-based capital requirement for each wholesale exposure not covered by an eligible guarantee from the U.S. government to a defaulted obligor and each segment of defaulted retail exposures not covered by an eligible guarantee from the U.S. government equals 0.08 multiplied by the EAD of the exposure or segment. (ii) Covered by an eligible U.S. government guarantee: The dollar risk-based capital requirement for each wholesale exposure to a defaulted obligor covered by an eligible guarantee from the U.S. government and each segment of defaulted retail exposures covered by an eligible guarantee from the U.S. government equals the sum of: [[Page 530]] (A) The sum of the EAD of the portion of each wholesale exposure to a defaulted obligor covered by an eligible guarantee from the U.S. government plus the EAD of the portion of each segment of defaulted retail exposures that is covered by an eligible guarantee from the U.S. government and the resulting sum is multiplied by 0.016, and (B) The sum of the EAD of the portion of each wholesale exposure to a defaulted obligor not covered by an eligible guarantee from the U.S. government plus the EAD of the portion of each segment of defaulted retail exposures that is not covered by an eligible guarantee from the U.S. government and the resulting sum is multiplied by 0.08. (iii) The sum of all the dollar risk-based capital requirements for each wholesale exposure to a defaulted obligor and each segment of defaulted retail exposures calculated in paragraph (e)(2)(i) of this section plus the dollar risk-based capital requirements each wholesale exposure to a defaulted obligor and for each segment of defaulted retail exposures calculated in paragraph (e)(2)(ii) of this section equals the total dollar risk-based capital requirement for those exposures and segments. (iv) The aggregate risk-weighted asset amount for wholesale exposures to defaulted obligors and segments of defaulted retail exposures equals the total dollar risk-based capital requirement calculated in paragraph (e)(2)(iii) of this section multiplied by 12.5. (3) Assets not included in a defined exposure category. (i) A bank holding company or savings and loan holding company may assign a risk- weighted asset amount of zero to cash owned and held in all offices of subsidiary depository institutions or in transit; and for gold bullion held in a subsidiary depository institution's own vaults, or held in another depository institution's vaults on an allocated basis, to the extent the gold bullion assets are offset by gold bullion liabilities. (ii) A state member bank may assign a risk-weighted asset amount to cash owned and held in all offices of the state member bank or in transit and for gold bullion held in the state member bank's own vaults, or held in another depository institution's vaults on an allocated basis, to the extent the gold bullion assets are offset by gold bullion liabilities. (iii) A Board-regulated institution must assign a risk-weighted asset amount equal to 50 percent of the carrying value to a pre-sold construction loan unless the purchase contract is cancelled, in which case a Board-regulated institution must assign a risk-weighted asset amount equal to a 100 percent of the carrying value of the pre-sold construction loan. (iv) The risk-weighted asset amount for the residual value of a retail lease exposure equals such residual value. (v) The risk-weighted asset amount for DTAs arising from temporary differences that the Board-regulated institution could realize through net operating loss carrybacks equals the carrying value, netted in accordance with Sec. 217.22. (vi) The risk-weighted asset amount for MSAs, DTAs arising from temporary timing differences that the Board-regulated institution could not realize through net operating loss carrybacks, and significant investments in the capital of unconsolidated financial institutions in the form of common stock that are not deducted pursuant to Sec. 217.22(d) equals the amount not subject to deduction multiplied by 250 percent. (vii) The risk-weighted asset amount for any other on-balance-sheet asset that does not meet the definition of a wholesale, retail, securitization, IMM, or equity exposure, cleared transaction, or default fund contribution and is not subject to deduction under Sec. 217.22(a), (c), or (d) equals the carrying value of the asset. (viii) The risk-weighted asset amount for a Paycheck Protection Program covered loan as defined in section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) equals zero. (4) Non-material portfolios of exposures. The risk-weighted asset amount of a portfolio of exposures for which the Board-regulated institution has demonstrated to the Board's satisfaction that the portfolio (when combined with all other portfolios of exposures that the Board-regulated institution seeks to treat under this paragraph (e)) is not [[Page 531]] material to the Board-regulated institution is the sum of the carrying values of on-balance sheet exposures plus the notional amounts of off- balance sheet exposures in the portfolio. For purposes of this paragraph (e)(4), the notional amount of an OTC derivative contract that is not a credit derivative is the EAD of the derivative as calculated in Sec. 217.132. (5) Assets held in non-guaranteed separate accounts. The risk- weighted asset amount for an on-balance sheet asset that is held in a non-guaranteed separate account is zero percent of the carrying value of the asset. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013; 80 FR 41420, July 15, 2015; 84 FR 35268, July 22, 2019; 85 FR 20393, Apr. 13, 2020] Sec. 217.132 Counterparty credit risk of repo-style transactions, eligible margin loans, and OTC derivative contracts. (a) Methodologies for collateral recognition. (1) Instead of an LGD estimation methodology, a Board-regulated institution may use the following methodologies to recognize the benefits of financial collateral in mitigating the counterparty credit risk of repo-style transactions, eligible margin loans, collateralized OTC derivative contracts and single product netting sets of such transactions, and to recognize the benefits of any collateral in mitigating the counterparty credit risk of repo-style transactions that are included in a Board- regulated institution's VaR-based measure under subpart F of this part: (i) The collateral haircut approach set forth in paragraph (b)(2) of this section; (ii) The internal models methodology set forth in paragraph (d) of this section; and (iii) For single product netting sets of repo-style transactions and eligible margin loans, the simple VaR methodology set forth in paragraph (b)(3) of this section. (2) A Board-regulated institution may use any combination of the three methodologies for collateral recognition; however, it must use the same methodology for transactions in the same category. (3) A Board-regulated institution must use the methodology in paragraph (c) of this section, or with prior written approval of the Board, the internal model methodology in paragraph (d) of this section, to calculate EAD for an OTC derivative contract or a set of OTC derivative contracts subject to a qualifying master netting agreement. To estimate EAD for qualifying cross-product master netting agreements, a Board-regulated institution may only use the internal models methodology in paragraph (d) of this section. (4) A Board-regulated institution must also use the methodology in paragraph (e) of this section to calculate the risk-weighted asset amounts for CVA for OTC derivatives. (b) EAD for eligible margin loans and repo-style transactions--(1) General. A Board-regulated institution may recognize the credit risk mitigation benefits of financial collateral that secures an eligible margin loan, repo-style transaction, or single-product netting set of such transactions by factoring the collateral into its LGD estimates for the exposure. Alternatively, a Board-regulated institution may estimate an unsecured LGD for the exposure, as well as for any repo-style transaction that is included in the Board-regulated institution's VaR- based measure under subpart F of this part, and determine the EAD of the exposure using: (i) The collateral haircut approach described in paragraph (b)(2) of this section; (ii) For netting sets only, the simple VaR methodology described in paragraph (b)(3) of this section; or (iii) The internal models methodology described in paragraph (d) of this section. (2) Collateral haircut approach--(i) EAD equation. A Board-regulated institution may determine EAD for an eligible margin loan, repo-style transaction, or netting set by setting EAD equal to max {0, [([Sigma]E - [Sigma]C) + [Sigma](Es x Hs) + [Sigma](Efx x Hfx)]{time} , where: (A) [Sigma]E equals the value of the exposure (the sum of the current fair values of all instruments, gold, and cash the [[Page 532]] Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty under the transaction (or netting set)); (B) [Sigma]C equals the value of the collateral (the sum of the current fair values of all instruments, gold, and cash the Board- regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty under the transaction (or netting set)); (C) Es equals the absolute value of the net position in a given instrument or in gold (where the net position in a given instrument or in gold equals the sum of the current fair values of the instrument or gold the Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty minus the sum of the current fair values of that same instrument or gold the Board-regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty); (D) Hs equals the market price volatility haircut appropriate to the instrument or gold referenced in Es; (E) Efx equals the absolute value of the net position of instruments and cash in a currency that is different from the settlement currency (where the net position in a given currency equals the sum of the current fair values of any instruments or cash in the currency the Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty minus the sum of the current fair values of any instruments or cash in the currency the Board- regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty); and (F) Hfx equals the haircut appropriate to the mismatch between the currency referenced in Efx and the settlement currency. (ii) Standard supervisory haircuts. (A) Under the standard supervisory haircuts approach: (1) A Board-regulated institution must use the haircuts for market price volatility (Hs) in Table 1 to Sec. 217.132, as adjusted in certain circumstances as provided in paragraphs (b)(2)(ii)(A)(3) and (4) of Sec. 217.132; Table 1 to Sec. 217.132--Standard Supervisory Market Price Volatility Haircuts \1\ -------------------------------------------------------------------------------------------------------------------------------------------------------- Haircut (in percent) assigned based on: ------------------------------------------------------------------------------ Investment Sovereign issuers risk weight under Non-sovereign issuers risk weight grade Residual maturity Sec. 217.132 \2\ (in percent) under Sec. 217.132 (in percent) securitization ------------------------------------------------------------------------------ exposures (in Zero 20 or 50 100 20 50 100 percent) -------------------------------------------------------------------------------------------------------------------------------------------------------- Less than or equal to 1 year.............................. 0.5 1.0 15.0 1.0 2.0 4.0 4.0 Greater than 1 year and less than or equal to 5 years..... 2.0 3.0 15.0 4.0 6.0 8.0 12.0 Greater than 5 years...................................... 4.0 6.0 15.0 8.0 12.0 16.0 24.0 -------------------------------------------------------------------------------------------------------------------------------------------------------- Main index equities (including convertible bonds) and gold.........................15.0.......... -------------------------------------------------------------------------------------------------------------------------------------------------------- Other publicly traded equities (including convertible bonds).......................25.0.......... -------------------------------------------------------------------------------------------------------------------------------------------------------- Mutual funds...................................................Highest haircut applicable to any security in which the fund can invest. -------------------------------------------------------------------------------------------------------------------------------------------------------- Cash collateral held...............................................................Zero.......... -------------------------------------------------------------------------------------------------------------------------------------------------------- Other exposure types...............................................................25.0 ......... -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ The market price volatility haircuts in Table 1 to Sec. 217.132 are based on a 10 business-day holding period. \2\ Includes a foreign PSE that receives a zero percent risk weight. (2) For currency mismatches, a Board-regulated institution must use a haircut for foreign exchange rate volatility (Hfx) of 8 percent, as adjusted in certain circumstances as provided in paragraphs (b)(2)(ii)(A)(3) and (4) of this section. (3) For repo-style transactions and client-facing derivative transactions, a [[Page 533]] Board-regulated institution may multiply the supervisory haircuts provided in paragraphs (b)(2)(ii)(A)(1) and (2) of this section by the square root of \1/2\ (which equals 0.707107). If the Board-regulated institution determines that a longer holding period is appropriate for client-facing derivative transactions, then it must use a larger scaling factor to adjust for the longer holding period pursuant to paragraph (b)(2)(ii)(A)(6) of this section. (4) A Board-regulated institution must adjust the supervisory haircuts upward on the basis of a holding period longer than ten business days (for eligible margin loans) or five business days (for repo-style transactions), using the formula provided in paragraph (b)(2)(ii)(A)(6) of this section where the conditions in this paragraph (b)(2)(ii)(A)(4) apply. If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must adjust the supervisory haircuts upward on the basis of a minimum holding period of twenty business days for the following quarter (except when a Board-regulated institution is calculating EAD for a cleared transaction under Sec. 217.133). If a netting set contains one or more trades involving illiquid collateral, a Board-regulated institution must adjust the supervisory haircuts upward on the basis of a minimum holding period of twenty business days. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted longer than the holding period, then the Board-regulated institution must adjust the supervisory haircuts upward for that netting set on the basis of a minimum holding period that is at least two times the minimum holding period for that netting set. (5)(i) A Board-regulated institution must adjust the supervisory haircuts upward on the basis of a holding period longer than ten business days for collateral associated with derivative contracts (five business days for client-facing derivative contracts) using the formula provided in paragraph (b)(2)(ii)(A)(6) of this section where the conditions in this paragraph (b)(2)(ii)(A)(5)(i) apply. For collateral associated with a derivative contract that is within a netting set that is composed of more than 5,000 derivative contracts that are not cleared transactions, a Board-regulated institution must use a minimum holding period of twenty business days. If a netting set contains one or more trades involving illiquid collateral or a derivative contract that cannot be easily replaced, a Board-regulated institution must use a minimum holding period of twenty business days. (ii) Notwithstanding paragraph (b)(2)(ii)(A)(1) or (3) or (b)(2)(ii)(A)(5)(i) of this section, for collateral associated with a derivative contract in a netting set under which more than two margin disputes that lasted longer than the holding period occurred during the two previous quarters, the minimum holding period is twice the amount provided under paragraph (b)(2)(ii)(A)(1) or (3) or (b)(2)(ii)(A)(5)(i) of this section. (6) A Board-regulated institution must adjust the standard supervisory haircuts upward, pursuant to the adjustments provided in paragraphs (b)(2)(ii)(A)(3) through (5) of this section, using the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.025 Where: TM equals a holding period of longer than 10 business days for eligible margin loans and derivative contracts other than client-facing derivative transactions or longer than 5 business days for repo-style [[Page 534]] transactions and client-facing derivative transactions; Hs equals the standard supervisory haircut; and Ts equals 10 business days for eligible margin loans and derivative contracts other than client-facing derivative transactions or 5 business days for repo-style transactions and client-facing derivative transactions. (7) If the instrument a Board-regulated institution has lent, sold subject to repurchase, or posted as collateral does not meet the definition of financial collateral, the Board-regulated institution must use a 25.0 percent haircut for market price volatility (Hs). (iii) Own internal estimates for haircuts. With the prior written approval of the Board, a Board-regulated institution may calculate haircuts (Hs and Hfx) using its own internal estimates of the volatilities of market prices and foreign exchange rates. (A) To receive Board approval to use its own internal estimates, a Board-regulated institution must satisfy the following minimum quantitative standards: (1) A Board-regulated institution must use a 99th percentile one- tailed confidence interval. (2) The minimum holding period for a repo-style transaction is five business days and for an eligible margin loan is ten business days except for transactions or netting sets for which paragraph (b)(2)(iii)(A)(3) of this section applies. When a Board-regulated institution calculates an own-estimates haircut on a TN-day holding period, which is different from the minimum holding period for the transaction type, the applicable haircut (HM) is calculated using the following square root of time formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.031 (i) TM equals 5 for repo-style transactions and 10 for eligible margin loans; (ii) TN equals the holding period used by the Board- regulated institution to derive HN; and (iii) HN equals the haircut based on the holding period TN (3) If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must calculate the haircut using a minimum holding period of twenty business days for the following quarter (except when a Board-regulated institution is calculating EAD for a cleared transaction under Sec. 217.133). If a netting set contains one or more trades involving illiquid collateral or an OTC derivative that cannot be easily replaced, a Board-regulated institution must calculate the haircut using a minimum holding period of twenty business days. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the holding period, then the Board-regulated institution must calculate the haircut for transactions in that netting set on the basis of a holding period that is at least two times the minimum holding period for that netting set. (4) A Board-regulated institution is required to calculate its own internal estimates with inputs calibrated to historical data from a continuous 12-month period that reflects a period of significant financial stress appropriate to the security or category of securities. (5) A Board-regulated institution must have policies and procedures that describe how it determines the period of significant financial stress used to calculate the Board-regulated institution's own internal estimates for haircuts under this section and must be able to provide empirical support for the period used. The Board-regulated institution must obtain the prior approval of the Board for, and notify the Board if the Board-regulated institution makes any material changes to, these policies and procedures. [[Page 535]] (6) Nothing in this section prevents the Board from requiring a Board-regulated institution to use a different period of significant financial stress in the calculation of own internal estimates for haircuts. (7) A Board-regulated institution must update its data sets and calculate haircuts no less frequently than quarterly and must also reassess data sets and haircuts whenever market prices change materially. (B) With respect to debt securities that are investment grade, a Board-regulated institution may calculate haircuts for categories of securities. For a category of securities, the Board-regulated institution must calculate the haircut on the basis of internal volatility estimates for securities in that category that are representative of the securities in that category that the Board- regulated institution has lent, sold subject to repurchase, posted as collateral, borrowed, purchased subject to resale, or taken as collateral. In determining relevant categories, the Board-regulated institution must at a minimum take into account: (1) The type of issuer of the security; (2) The credit quality of the security; (3) The maturity of the security; and (4) The interest rate sensitivity of the security. (C) With respect to debt securities that are not investment grade and equity securities, a Board-regulated institution must calculate a separate haircut for each individual security. (D) Where an exposure or collateral (whether in the form of cash or securities) is denominated in a currency that differs from the settlement currency, the Board-regulated institution must calculate a separate currency mismatch haircut for its net position in each mismatched currency based on estimated volatilities of foreign exchange rates between the mismatched currency and the settlement currency. (E) A Board-regulated institution's own estimates of market price and foreign exchange rate volatilities may not take into account the correlations among securities and foreign exchange rates on either the exposure or collateral side of a transaction (or netting set) or the correlations among securities and foreign exchange rates between the exposure and collateral sides of the transaction (or netting set). (3) Simple VaR methodology. With the prior written approval of the Board, a Board-regulated institution may estimate EAD for a netting set using a VaR model that meets the requirements in paragraph (b)(3)(iii) of this section. In such event, the Board-regulated institution must set EAD equal to max {0, [([Sigma]E - [Sigma]C) + PFE]{time} , where: (i) [Sigma]E equals the value of the exposure (the sum of the current fair values of all instruments, gold, and cash the Board- regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty under the netting set); (ii) [Sigma]C equals the value of the collateral (the sum of the current fair values of all instruments, gold, and cash the Board- regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty under the netting set); and (iii) PFE (potential future exposure) equals the Board-regulated institution's empirically based best estimate of the 99th percentile, one-tailed confidence interval for an increase in the value of ([Sigma]E - [Sigma]C) over a five-business-day holding period for repo-style transactions, or over a ten-business-day holding period for eligible margin loans except for netting sets for which paragraph (b)(3)(iv) of this section applies using a minimum one-year historical observation period of price data representing the instruments that the Board- regulated institution has lent, sold subject to repurchase, posted as collateral, borrowed, purchased subject to resale, or taken as collateral. The Board-regulated institution must validate its VaR model by establishing and maintaining a rigorous and regular backtesting regime. (iv) If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must use a twenty- business-day holding period for the following quarter (except when a Board-regulated institution is calculating EAD for a cleared transaction under Sec. 217.133). If a netting set contains one or more trades involving illiquid collateral, a Board- [[Page 536]] regulated institution must use a twenty-business-day holding period. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the holding period, then the Board-regulated institution must set its PFE for that netting set equal to an estimate over a holding period that is at least two times the minimum holding period for that netting set. (c) EAD for derivative contracts--(1) Options for determining EAD. A Board-regulated institution must determine the EAD for a derivative contract using the standardized approach for counterparty credit risk (SA-CCR) under paragraph (c)(5) of this section or using the internal models methodology described in paragraph (d) of this section. If a Board-regulated institution elects to use SA-CCR for one or more derivative contracts, the exposure amount determined under SA-CCR is the EAD for the derivative contract or derivatives contracts. A Board- regulation institution must use the same methodology to calculate the exposure amount for all its derivative contracts and may change its election only with prior approval of the Board. A Board-regulated institution may reduce the EAD calculated according to paragraph (c)(5) of this section by the credit valuation adjustment that the Board- regulated institution has recognized in its balance sheet valuation of any derivative contracts in the netting set. For purposes of this paragraph (c)(1), the credit valuation adjustment does not include any adjustments to common equity tier 1 capital attributable to changes in the fair value of the Board-regulated institution's liabilities that are due to changes in its own credit risk since the inception of the transaction with the counterparty. (2) Definitions. For purposes of this paragraph (c) of this section, the following definitions apply: (i) End date means the last date of the period referenced by an interest rate or credit derivative contract or, if the derivative contract references another instrument, by the underlying instrument, except as otherwise provided in paragraph (c) of this section. (ii) Start date means the first date of the period referenced by an interest rate or credit derivative contract or, if the derivative contract references the value of another instrument, by underlying instrument, except as otherwise provided in paragraph (c) of this section. (iii) Hedging set means: (A) With respect to interest rate derivative contracts, all such contracts within a netting set that reference the same reference currency; (B) With respect to exchange rate derivative contracts, all such contracts within a netting set that reference the same currency pair; (C) With respect to credit derivative contract, all such contracts within a netting set; (D) With respect to equity derivative contracts, all such contracts within a netting set; (E) With respect to a commodity derivative contract, all such contracts within a netting set that reference one of the following commodity categories: Energy, metal, agricultural, or other commodities; (F) With respect to basis derivative contracts, all such contracts within a netting set that reference the same pair of risk factors and are denominated in the same currency; or (G) With respect to volatility derivative contracts, all such contracts within a netting set that reference one of interest rate, exchange rate, credit, equity, or commodity risk factors, separated according to the requirements under paragraphs (c)(2)(iii)(A) through (E) of this section. (H) If the risk of a derivative contract materially depends on more than one of interest rate, exchange rate, credit, equity, or commodity risk factors, the Board may require a Board-regulated institution to include the derivative contract in each appropriate hedging set under paragraphs (c)(1)(iii)(A) through (E) of this section. (3) Credit derivatives. Notwithstanding paragraphs (c)(1) and (c)(2) of this section: (i) A Board-regulated institution that purchases a credit derivative that is recognized under Sec. 217.134 or Sec. 217.135 as a credit risk mitigant for an exposure that is not a covered position under subpart F of this part is not required to [[Page 537]] calculate a separate counterparty credit risk capital requirement under this section so long as the Board-regulated institution does so consistently for all such credit derivatives and either includes or excludes all such credit derivatives that are subject to a master netting agreement from any measure used to determine counterparty credit risk exposure to all relevant counterparties for risk-based capital purposes. (ii) A Board-regulated institution that is the protection provider in a credit derivative must treat the credit derivative as a wholesale exposure to the reference obligor and is not required to calculate a counterparty credit risk capital requirement for the credit derivative under this section, so long as it does so consistently for all such credit derivatives and either includes all or excludes all such credit derivatives that are subject to a master netting agreement from any measure used to determine counterparty credit risk exposure to all relevant counterparties for risk-based capital purposes (unless the Board-regulated institution is treating the credit derivative as a covered position under subpart F of this part, in which case the Board- regulated institution must calculate a supplemental counterparty credit risk capital requirement under this section). (4) Equity derivatives. A Board-regulated institution must treat an equity derivative contract as an equity exposure and compute a risk- weighted asset amount for the equity derivative contract under Sec. Sec. 217.151-217.155 (unless the Board-regulated institution is treating the contract as a covered position under subpart F of this part). In addition, if the Board-regulated institution is treating the contract as a covered position under subpart F of this part, and under certain other circumstances described in Sec. 217.155, the Board- regulated institution must also calculate a risk-based capital requirement for the counterparty credit risk of an equity derivative contract under this section. (5) Exposure amount. (i) The exposure amount of a netting set, as calculated under paragraph (c) of this section, is equal to 1.4 multiplied by the sum of the replacement cost of the netting set, as calculated under paragraph (c)(6) of this section, and the potential future exposure of the netting set, as calculated under paragraph (c)(7) of this section. (ii) Notwithstanding the requirements of paragraph (c)(5)(i) of this section, the exposure amount of a netting set subject to a variation margin agreement, excluding a netting set that is subject to a variation margin agreement under which the counterparty to the variation margin agreement is not required to post variation margin, is equal to the lesser of the exposure amount of the netting set calculated under paragraph (c)(5)(i) of this section and the exposure amount of the netting set calculated under paragraph (c)(5)(i) of this section as if the netting set were not subject to a variation margin agreement. (iii) Notwithstanding the requirements of paragraph (c)(5)(i) of this section, the exposure amount of a netting set that consists of only sold options in which the premiums have been fully paid by the counterparty to the options and where the options are not subject to a variation margin agreement is zero. (iv) Notwithstanding the requirements of paragraph (c)(5)(i) of this section, the exposure amount of a netting set in which the counterparty is a commercial end-user is equal to the sum of replacement cost, as calculated under paragraph (c)(6) of this section, and the potential future exposure of the netting set, as calculated under paragraph (c)(7) of this section. (v) For purposes of the exposure amount calculated under paragraph (c)(5)(i) of this section and all calculations that are part of that exposure amount, a Board-regulated institution may elect to treat a derivative contract that is a cleared transaction that is not subject to a variation margin agreement as one that is subject to a variation margin agreement, if the derivative contract is subject to a requirement that the counterparties make daily cash payments to each other to account for changes in the fair value of the derivative contract and to reduce the net position of the contract [[Page 538]] to zero. If a Board-regulated institution makes an election under this paragraph (c)(5)(v) for one derivative contract, it must treat all other derivative contracts within the same netting set that are eligible for an election under this paragraph (c)(5)(v) as derivative contracts that are subject to a variation margin agreement. (vi) For purposes of the exposure amount calculated under paragraph (c)(5)(i) of this section and all calculations that are part of that exposure amount, a Board-regulated institution may elect to treat a credit derivative contract, equity derivative contract, or commodity derivative contract that references an index as if it were multiple derivative contracts each referencing one component of the index. (6) Replacement cost of a netting set--(i) Netting set subject to a variation margin agreement under which the counterparty must post variation margin. The replacement cost of a netting set subject to a variation margin agreement, excluding a netting set that is subject to a variation margin agreement under which the counterparty is not required to post variation margin, is the greater of: (A) The sum of the fair values (after excluding any valuation adjustments) of the derivative contracts within the netting set less the sum of the net independent collateral amount and the variation margin amount applicable to such derivative contracts; (B) The sum of the variation margin threshold and the minimum transfer amount applicable to the derivative contracts within the netting set less the net independent collateral amount applicable to such derivative contracts; or (C) Zero. (ii) Netting sets not subject to a variation margin agreement under which the counterparty must post variation margin. The replacement cost of a netting set that is not subject to a variation margin agreement under which the counterparty must post variation margin to the Board- regulated institution is the greater of: (A) The sum of the fair values (after excluding any valuation adjustments) of the derivative contracts within the netting set less the sum of the net independent collateral amount and variation margin amount applicable to such derivative contracts; or (B) Zero. (iii) Multiple netting sets subject to a single variation margin agreement. Notwithstanding paragraphs (c)(6)(i) and (ii) of this section, the replacement cost for multiple netting sets subject to a single variation margin agreement must be calculated according to paragraph (c)(10)(i) of this section. (iv) Netting set subject to multiple variation margin agreements or a hybrid netting set. Notwithstanding paragraphs (c)(6)(i) and (ii) of this section, the replacement cost for a netting set subject to multiple variation margin agreements or a hybrid netting set must be calculated according to paragraph (c)(11)(i) of this section. (7) Potential future exposure of a netting set. The potential future exposure of a netting set is the product of the PFE multiplier and the aggregated amount. (i) PFE multiplier. The PFE multiplier is calculated according to the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.026 Where: V is the sum of the fair values (after excluding any valuation adjustments) of the derivative contracts within the netting set; C is the sum of the net independent collateral amount and the variation margin amount applicable to the derivative contracts within the netting set; and A is the aggregated amount of the netting set. (ii) Aggregated amount. The aggregated amount is the sum of all hedging [[Page 539]] set amounts, as calculated under paragraph (c)(8) of this section, within a netting set. (iii) Multiple netting sets subject to a single variation margin agreement. Notwithstanding paragraphs (c)(7)(i) and (ii) of this section and when calculating the potential future exposure for purposes of total leverage exposure under Sec. 217.10(c)(2)(ii)(B), the potential future exposure for multiple netting sets subject to a single variation margin agreement must be calculated according to paragraph (c)(10)(ii) of this section. (iv) Netting set subject to multiple variation margin agreements or a hybrid netting set. Notwithstanding paragraphs (c)(7)(i) and (ii) of this section and when calculating the potential future exposure for purposes of total leverage exposure under Sec. 217.10(c)(2)(ii)(B), the potential future exposure for a netting set subject to multiple variation margin agreements or a hybrid netting set must be calculated according to paragraph (c)(11)(ii) of this section. (8) Hedging set amount--(i) Interest rate derivative contracts. To calculate the hedging set amount of an interest rate derivative contract hedging set, a Board-regulated institution may use either of the formulas provided in paragraphs (c)(8)(i)(A) and (B) of this section: (A) Formula 1 is as follows: [GRAPHIC] [TIFF OMITTED] TR24JA20.027 (B) Formula 2 is as follows: Hedging set amount = [verbar]AddOnIRTB1[verbar] + [verbar]AddOnIRTB2[verbar] + [verbar]AddOnIRTB3[verbar]. Where in paragraphs (c)(8)(i)(A) and (B) of this section: AddOnIRTB1 is the sum of the adjusted derivative contract amounts, as calculated under paragraph (c)(9) of this section, within the hedging set with an end date of less than one year from the present date; AddOnIRTB2 is the sum of the adjusted derivative contract amounts, as calculated under paragraph (c)(9) of this section, within the hedging set with an end date of one to five years from the present date; and AddOnIRTB3 is the sum of the adjusted derivative contract amounts, as calculated under paragraph (c)(9) of this section, within the hedging set with an end date of more than five years from the present date. (ii) Exchange rate derivative contracts. For an exchange rate derivative contract hedging set, the hedging set amount equals the absolute value of the sum of the adjusted derivative contract amounts, as calculated under paragraph (c)(9) of this section, within the hedging set. (iii) Credit derivative contracts and equity derivative contracts. The hedging set amount of a credit derivative contract hedging set or equity derivative contract hedging set within a netting set is calculated according to the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.028 Where: k is each reference entity within the hedging set. [[Page 540]] K is the number of reference entities within the hedging set. AddOn(Refk) equals the sum of the adjusted derivative contract amounts, as determined under paragraph (c)(9) of this section, for all derivative contracts within the hedging set that reference reference entity k. [rho]k equals the applicable supervisory correlation factor, as provided in Table 3 to this section. (iv) Commodity derivative contracts. The hedging set amount of a commodity derivative contract hedging set within a netting set is calculated according to the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.029 Where: k is each commodity type within the hedging set. K is the number of commodity types within the hedging set. AddOn(Typek) equals the sum of the adjusted derivative contract amounts, as determined under paragraph (c)(9) of this section, for all derivative contracts within the hedging set that reference reference commodity type. [rho] equals the applicable supervisory correlation factor, as provided in Table 3 to this section. (v) Basis derivative contracts and volatility derivative contracts. Notwithstanding paragraphs (c)(8)(i) through (iv) of this section, a Board-regulated institution must calculate a separate hedging set amount for each basis derivative contract hedging set and each volatility derivative contract hedging set. A Board-regulated institution must calculate such hedging set amounts using one of the formulas under paragraphs (c)(8)(i) through (iv) that corresponds to the primary risk factor of the hedging set being calculated. (9) Adjusted derivative contract amount--(i) Summary. To calculate the adjusted derivative contract amount of a derivative contract, a Board-regulated institution must determine the adjusted notional amount of derivative contract, pursuant to paragraph (c)(9)(ii) of this section, and multiply the adjusted notional amount by each of the supervisory delta adjustment, pursuant to paragraph (c)(9)(iii) of this section, the maturity factor, pursuant to paragraph (c)(9)(iv) of this section, and the applicable supervisory factor, as provided in Table 3 to this section. (ii) Adjusted notional amount. (A)(1) For an interest rate derivative contract or a credit derivative contract, the adjusted notional amount equals the product of the notional amount of the derivative contract, as measured in U.S. dollars using the exchange rate on the date of the calculation, and the supervisory duration, as calculated by the following formula: [[Page 541]] [GRAPHIC] [TIFF OMITTED] TR17SE20.013 Where: S is the number of business days from the present day until the start date of the derivative contract, or zero if the start date has already passed; and E is the number of business days from the present day until the end date of the derivative contract. (2) For purposes of paragraph (c)(9)(ii)(A)(1) of this section: (i) For an interest rate derivative contract or credit derivative contract that is a variable notional swap, the notional amount is equal to the time-weighted average of the contractual notional amounts of such a swap over the remaining life of the swap; and (ii) For an interest rate derivative contract or a credit derivative contract that is a leveraged swap, in which the notional amount of all legs of the derivative contract are divided by a factor and all rates of the derivative contract are multiplied by the same factor, the notional amount is equal to the notional amount of an equivalent unleveraged swap. (B)(1) For an exchange rate derivative contract, the adjusted notional amount is the notional amount of the non-U.S. denominated currency leg of the derivative contract, as measured in U.S. dollars using the exchange rate on the date of the calculation. If both legs of the exchange rate derivative contract are denominated in currencies other than U.S. dollars, the adjusted notional amount of the derivative contract is the largest leg of the derivative contract, as measured in U.S. dollars using the exchange rate on the date of the calculation. (2) Notwithstanding paragraph (c)(9)(ii)(B)(1) of this section, for an exchange rate derivative contract with multiple exchanges of principal, the Board-regulated institution must set the adjusted notional amount of the derivative contract equal to the notional amount of the derivative contract multiplied by the number of exchanges of principal under the derivative contract. (C)(1) For an equity derivative contract or a commodity derivative contract, the adjusted notional amount is the product of the fair value of one unit of the reference instrument underlying the derivative contract and the number of such units referenced by the derivative contract. (2) Notwithstanding paragraph (c)(9)(ii)(C)(1) of this section, when calculating the adjusted notional amount for an equity derivative contract or a commodity derivative contract that is a volatility derivative contract, the Board-regulated institution must replace the unit price with the underlying volatility referenced by the volatility derivative contract and replace the number of units with the notional amount of the volatility derivative contract. (iii) Supervisory delta adjustments. (A) For a derivative contract that is not an option contract or collateralized debt obligation tranche, the supervisory delta adjustment is 1 if the fair value of the derivative contract increases when the value of the primary risk factor increases and -1 if the fair value of the derivative contract decreases when the value of the primary risk factor increases. (B)(1) For a derivative contract that is an option contract, the supervisory delta adjustment is determined by the following formulas, as applicable: [[Page 542]] [GRAPHIC] [TIFF OMITTED] TR24JA20.031 (2) As used in the formulas in Table 2 to this section: (i) [PHgr] is the standard normal cumulative distribution function; (ii) P equals the current fair value of the instrument or risk factor, as applicable, underlying the option; (iii) K equals the strike price of the option; (iv) T equals the number of business days until the latest contractual exercise date of the option; (v) [lgr] equals zero for all derivative contracts except interest rate options for the currencies where interest rates have negative values. The same value of [lgr] must be used for all interest rate options that are denominated in the same currency. To determine the value of [lgr] for a given currency, a Board-regulated institution must find the lowest value L of P and K of all interest rate options in a given currency that the Board-regulated institution has with all counterparties. Then, [lgr] is set according to this formula:[lgr] = max{-L + 0.1%, 0{time} ; and (vi) [sigma] equals the supervisory option volatility, as provided in Table 3 to this section. (C)(1) For a derivative contract that is a collateralized debt obligation tranche, the supervisory delta adjustment is determined by the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.032 (2) As used in the formula in paragraph (c)(9)(iii)(C)(1) of this section: (i) A is the attachment point, which equals the ratio of the notional amounts of all underlying exposures that are subordinated to the Board-regulated institution's exposure to the total notional amount of all underlying exposures, expressed as a decimal value between zero and one; \30\ --------------------------------------------------------------------------- \30\ In the case of a first-to-default credit derivative, there are no underlying exposures that are subordinated to the Board-regulated institution's exposure. In the case of a second-or-subsequent-to-default credit derivative, the smallest (n-1) notional amounts of the underlying exposures are subordinated to the Board-regulated institution's exposure. --------------------------------------------------------------------------- (ii) D is the detachment point, which equals one minus the ratio of the notional amounts of all underlying exposures that are senior to the Board-regulated institution's exposure to the total notional amount of all underlying exposures, expressed as a decimal value between zero and one; and (iii) The resulting amount is designated with a positive sign if the [[Page 543]] collateralized debt obligation tranche was purchased by the Board- regulated institution and is designated with a negative sign if the collateralized debt obligation tranche was sold by the Board-regulated institution. (iv) Maturity factor. (A)(1) The maturity factor of a derivative contract that is subject to a variation margin agreement, excluding derivative contracts that are subject to a variation margin agreement under which the counterparty is not required to post variation margin, is determined by the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.033 Where MPOR refers to the period from the most recent exchange of collateral covering a netting set of derivative contracts with a defaulting counterparty until the derivative contracts are closed out and the resulting market risk is re-hedged. (2) Notwithstanding paragraph (c)(9)(iv)(A)(1) of this section: (i) For a derivative contract that is not a client-facing derivative transaction, MPOR cannot be less than ten business days plus the periodicity of re-margining expressed in business days minus one business day; (ii) For a derivative contract that is a client-facing derivative transaction, cannot be less than five business days plus the periodicity of re-margining expressed in business days minus one business day; and (iii) For a derivative contract that is within a netting set that is composed of more than 5,000 derivative contracts that are not cleared transactions, or a netting set that contains one or more trades involving illiquid collateral or a derivative contract that cannot be easily replaced, MPOR cannot be less than twenty business days. (3) Notwithstanding paragraphs (c)(9)(iv)(A)(1) and (2) of this section, for a netting set subject to more than two outstanding disputes over margin that lasted longer than the MPOR over the previous two quarters, the applicable floor is twice the amount provided in paragraphs (c)(9)(iv)(A)(1) and (2) of this section. (B) The maturity factor of a derivative contract that is not subject to a variation margin agreement, or derivative contracts under which the counterparty is not required to post variation margin, is determined by the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.034 Where M equals the greater of 10 business days and the remaining maturity of the contract, as measured in business days. (C) For purposes of paragraph (c)(9)(iv) of this section, if a Board-regulated institution has elected pursuant to paragraph (c)(5)(v) of this section to treat a derivative contract that is a cleared transaction that is not subject to a variation margin agreement as one that is subject to a variation margin agreement, the Board-regulated institution must treat the derivative contract as subject to a variation margin agreement with maturity factor as determined according to (c)(9)(iv)(A) of this section, and daily settlement does not change the end date of the period referenced by the derivative contract. (v) Derivative contract as multiple effective derivative contracts. A Board-regulated institution must separate a derivative contract into separate derivative [[Page 544]] contracts, according to the following rules: (A) For an option where the counterparty pays a predetermined amount if the value of the underlying asset is above or below the strike price and nothing otherwise (binary option), the option must be treated as two separate options. For purposes of paragraph (c)(9)(iii)(B) of this section, a binary option with strike K must be represented as the combination of one bought European option and one sold European option of the same type as the original option (put or call) with the strikes set equal to 0.95 * K and 1.05 * K so that the payoff of the binary option is reproduced exactly outside the region between the two strikes. The absolute value of the sum of the adjusted derivative contract amounts of the bought and sold options is capped at the payoff amount of the binary option. (B) For a derivative contract that can be represented as a combination of standard option payoffs (such as collar, butterfly spread, calendar spread, straddle, and strangle), a Board-regulated institution must treat each standard option component as a separate derivative contract. (C) For a derivative contract that includes multiple-payment options, (such as interest rate caps and floors), a Board-regulated institution may represent each payment option as a combination of effective single-payment options (such as interest rate caplets and floorlets). (D) A Board-regulated institution may not decompose linear derivative contracts (such as swaps) into components. (10) Multiple netting sets subject to a single variation margin agreement--(i) Calculating replacement cost. Notwithstanding paragraph (c)(6) of this section, a Board-regulated institution shall assign a single replacement cost to multiple netting sets that are subject to a single variation margin agreement under which the counterparty must post variation margin, calculated according to the following formula: Replacement Cost = max{[Sigma]NSmax{VNS; 0{time} - max{CMA; 0{time} ; 0{time} + max{[Sigma]NSmin{VNS; 0{time} - min{CMA; 0{time} ; 0{time} Where: NS is each netting set subject to the variation margin agreement MA; VNS is the sum of the fair values (after excluding any valuation adjustments) of the derivative contracts within the netting set NS; and CMA is the sum of the net independent collateral amount and the variation margin amount applicable to the derivative contracts within the netting sets subject to the single variation margin agreement. (ii) Calculating potential future exposure. Notwithstanding paragraph (c)(5) of this section, a Board-regulated institution shall assign a single potential future exposure to multiple netting sets that are subject to a single variation margin agreement under which the counterparty must post variation margin equal to the sum of the potential future exposure of each such netting set, each calculated according to paragraph (c)(7) of this section as if such nettings sets were not subject to a variation margin agreement. (11) Netting set subject to multiple variation margin agreements or a hybrid netting set--(i) Calculating replacement cost. To calculate replacement cost for either a netting set subject to multiple variation margin agreements under which the counterparty to each variation margin agreement must post variation margin, or a netting set composed of at least one derivative contract subject to variation margin agreement under which the counterparty must post variation margin and at least one derivative contract that is not subject to such a variation margin agreement, the calculation for replacement cost is provided under paragraph (c)(6)(i) of this section, except that the variation margin threshold equals the sum of the variation margin thresholds of all variation margin agreements within the netting set and the minimum transfer amount equals the sum of the minimum transfer amounts of all the variation margin agreements within the netting set. (ii) Calculating potential future exposure. (A) To calculate potential future exposure for a netting set subject to multiple variation margin agreements under which the counterparty to each variation margin agreement must post variation margin, or a netting set composed of at least one derivative contract subject to variation margin [[Page 545]] agreement under which the counterparty to the derivative contract must post variation margin and at least one derivative contract that is not subject to such a variation margin agreement, a Board-regulated institution must divide the netting set into sub-netting sets (as described in paragraph (c)(11)(ii)(B) of this section) and calculate the aggregated amount for each sub-netting set. The aggregated amount for the netting set is calculated as the sum of the aggregated amounts for the sub-netting sets. The multiplier is calculated for the entire netting set. (B) For purposes of paragraph (c)(11)(ii)(A) of this section, the netting set must be divided into sub-netting sets as follows: (1) All derivative contracts within the netting set that are not subject to a variation margin agreement or that are subject to a variation margin agreement under which the counterparty is not required to post variation margin form a single sub-netting set. The aggregated amount for this sub-netting set is calculated as if the netting set is not subject to a variation margin agreement. (2) All derivative contracts within the netting set that are subject to variation margin agreements in which the counterparty must post variation margin and that share the same value of the MPOR form a single sub-netting set. The aggregated amount for this sub-netting set is calculated as if the netting set is subject to a variation margin agreement, using the MPOR value shared by the derivative contracts within the netting set. Table 3 to Sec. 217.132--Supervisory Option Volatility, Supervisory Correlation Parameters, and Supervisory Factors for Derivative Contracts ---------------------------------------------------------------------------------------------------------------- Supervisory Supervisory option correlation Supervisory Asset class Category Type volatility factor factor \1\ (percent) (percent) (percent) ---------------------------------------------------------------------------------------------------------------- Interest rate................ N/A............. N/A............ 50 N/A 0.50 Exchange rate................ N/A............. N/A............ 15 N/A 4.0 Credit, single name.......... Investment grade N/A............ 100 50 0.46 Speculative N/A............ 100 50 1.3 grade. Sub-speculative N/A............ 100 50 6.0 grade. Credit, index................ Investment Grade N/A............ 80 80 0.38 Speculative N/A............ 80 80 1.06 Grade. Equity, single name.......... N/A............. N/A............ 120 50 32 Equity, index................ N/A............. N/A............ 75 80 20 Commodity.................... Energy.......... Electricity.... 150 40 40 Other.......... 70 40 18 Metals.......... N/A............ 70 40 18 Agricultural.... N/A............ 70 40 18 Other........... N/A............ 70 40 18 ---------------------------------------------------------------------------------------------------------------- \1\ The applicable supervisory factor for basis derivative contract hedging sets is equal to one-half of the supervisory factor provided in this Table 3, and the applicable supervisory factor for volatility derivative contract hedging sets is equal to 5 times the supervisory factor provided in this Table 3. (d) Internal models methodology. (1)(i) With prior written approval from the Board, a Board-regulated institution may use the internal models methodology in this paragraph (d) to determine EAD for counterparty credit risk for derivative contracts (collateralized or uncollateralized) and single-product netting sets thereof, for eligible margin loans and single-product netting sets thereof, and for repo-style transactions and single-product netting sets thereof. (ii) A Board-regulated institution that uses the internal models methodology for a particular transaction type (derivative contracts, eligible margin loans, or repo-style transactions) must use the internal models methodology for all transactions of that transaction type. A Board-regulated institution may choose to use the internal models methodology for one or two of these three types of exposures and not the other types. [[Page 546]] (iii) A Board-regulated institution may also use the internal models methodology for derivative contracts, eligible margin loans, and repo- style transactions subject to a qualifying cross-product netting agreement if: (A) The Board-regulated institution effectively integrates the risk mitigating effects of cross-product netting into its risk management and other information technology systems; and (B) The Board-regulated institution obtains the prior written approval of the Board. (iv) A Board-regulated institution that uses the internal models methodology for a transaction type must receive approval from the Board to cease using the methodology for that transaction type or to make a material change to its internal model. (2) Risk-weighted assets using IMM. Under the IMM, a Board-regulated institution uses an internal model to estimate the expected exposure (EE) for a netting set and then calculates EAD based on that EE. A Board-regulated institution must calculate two EEs and two EADs (one stressed and one unstressed) for each netting set as follows: (i) EADunstressed is calculated using an EE estimate based on the most recent data meeting the requirements of paragraph (d)(3)(vii) of this section; (ii) EADstressed is calculated using an EE estimate based on a historical period that includes a period of stress to the credit default spreads of the Board-regulated institution's counterparties according to paragraph (d)(3)(viii) of this section; (iii) The Board-regulated institution must use its internal model's probability distribution for changes in the fair value of a netting set that are attributable to changes in market variables to determine EE; and (iv) Under the internal models methodology, EAD = Max (0, [alpha] x effective EPE - CVA), or, subject to the prior written approval of Board as provided in paragraph (d)(10) of this section, a more conservative measure of EAD. (A) CVA equals the credit valuation adjustment that the Board- regulated institution has recognized in its balance sheet valuation of any OTC derivative contracts in the netting set. For purposes of this paragraph (d), CVA does not include any adjustments to common equity tier 1 capital attributable to changes in the fair value of the Board- regulated institution's liabilities that are due to changes in its own credit risk since the inception of the transaction with the counterparty. [GRAPHIC] [TIFF OMITTED] TR11OC13.033 [[Page 547]] (C) [alpha] = 1.4 except as provided in paragraph (d)(6) of this section, or when the Board has determined that the Board-regulated institution must set [alpha] higher based on the Board-regulated institution's specific characteristics of counterparty credit risk or model performance. (v) A Board-regulated institution may include financial collateral currently posted by the counterparty as collateral (but may not include other forms of collateral) when calculating EE. (vi) If a Board-regulated institution hedges some or all of the counterparty credit risk associated with a netting set using an eligible credit derivative, the Board-regulated institution may take the reduction in exposure to the counterparty into account when estimating EE. If the Board-regulated institution recognizes this reduction in exposure to the counterparty in its estimate of EE, it must also use its internal model to estimate a separate EAD for the Board-regulated institution's exposure to the protection provider of the credit derivative. (3) Prior approval relating to EAD calculation. To obtain Board approval to calculate the distributions of exposures upon which the EAD calculation is based, the Board-regulated institution must demonstrate to the satisfaction of the Board that it has been using for at least one year an internal model that broadly meets the following minimum standards, with which the Board-regulated institution must maintain compliance: (i) The model must have the systems capability to estimate the expected exposure to the counterparty on a daily basis (but is not expected to estimate or report expected exposure on a daily basis); (ii) The model must estimate expected exposure at enough future dates to reflect accurately all the future cash flows of contracts in the netting set; (iii) The model must account for the possible non-normality of the exposure distribution, where appropriate; (iv) The Board-regulated institution must measure, monitor, and control current counterparty exposure and the exposure to the counterparty over the whole life of all contracts in the netting set; (v) The Board-regulated institution must be able to measure and manage current exposures gross and net of collateral held, where appropriate. The Board-regulated institution must estimate expected exposures for OTC derivative contracts both with and without the effect of collateral agreements; (vi) The Board-regulated institution must have procedures to identify, monitor, and control wrong-way risk throughout the life of an exposure. The procedures must include stress testing and scenario analysis; (vii) The model must use current market data to compute current exposures. The Board-regulated institution must estimate model parameters using historical data from the most recent three-year period and update the data quarterly or more frequently if market conditions warrant. The Board-regulated institution should consider using model parameters based on forward-looking measures, where appropriate; (viii) When estimating model parameters based on a stress period, the Board-regulated institution must use at least three years of historical data that include a period of stress to the credit default spreads of the Board-regulated institution's counterparties. The Board- regulated institution must review the data set and update the data as necessary, particularly for any material changes in its counterparties. The Board-regulated institution must demonstrate, at least quarterly, and maintain documentation of such demonstration, that the stress period coincides with increased CDS or other credit spreads of the Board- regulated institution's counterparties. The Board-regulated institution must have procedures to evaluate the effectiveness of its stress calibration that include a process for using benchmark portfolios that are vulnerable to the same risk factors as the Board-regulated institution's portfolio. The Board may require the Board-regulated institution to modify its stress calibration to better reflect actual historic losses of the portfolio; (ix) A Board-regulated institution must subject its internal model to an [[Page 548]] initial validation and annual model review process. The model review should consider whether the inputs and risk factors, as well as the model outputs, are appropriate. As part of the model review process, the Board-regulated institution must have a backtesting program for its model that includes a process by which unacceptable model performance will be determined and remedied; (x) A Board-regulated institution must have policies for the measurement, management and control of collateral and margin amounts; and (xi) A Board-regulated institution must have a comprehensive stress testing program that captures all credit exposures to counterparties, and incorporates stress testing of principal market risk factors and creditworthiness of counterparties. (4) Calculating the maturity of exposures. (i) If the remaining maturity of the exposure or the longest-dated contract in the netting set is greater than one year, the Board-regulated institution must set M for the exposure or netting set equal to the lower of five years or M(EPE), where: [GRAPHIC] [TIFF OMITTED] TR11OC13.034 (ii) If the remaining maturity of the exposure or the longest-dated contract in the netting set is one year or less, the Board-regulated institution must set M for the exposure or netting set equal to one year, except as provided in Sec. 217.131(d)(7). (iii) Alternatively, a Board-regulated institution that uses an internal model to calculate a one-sided credit valuation adjustment may use the effective credit duration estimated by the model as M(EPE) in place of the formula in paragraph (d)(4)(i) of this section. (5) Effects of collateral agreements on EAD. A Board-regulated institution may capture the effect on EAD of a collateral agreement that requires receipt of collateral when exposure to the counterparty increases, but may not capture the effect on EAD of a collateral agreement that requires receipt of collateral when counterparty credit quality deteriorates. Two methods are available to capture the effect of a collateral agreement, as set forth in paragraphs (d)(5)(i) and (ii) of this section: (i) With prior written approval from the Board, a Board-regulated institution may include the effect of a collateral agreement within its internal model used to calculate EAD. The Board-regulated institution may set EAD equal to the expected exposure at the end of the margin period of risk. The margin period of risk means, with respect to a netting set subject to a collateral agreement, the time period from the most recent exchange of collateral with a counterparty until the next required exchange of collateral, plus the period of time required to sell and realize the proceeds of the least liquid collateral that can be delivered under the terms of the collateral agreement and, where applicable, the period of time required to re-hedge the resulting market risk upon the default of the counterparty. The minimum margin period of risk is set according to paragraph (d)(5)(iii) of this section; or [[Page 549]] (ii) As an alternative to paragraph (d)(5)(i) of this section, a Board-regulated institution that can model EPE without collateral agreements but cannot achieve the higher level of modeling sophistication to model EPE with collateral agreements can set effective EPE for a collateralized netting set equal to the lesser of: (A) An add-on that reflects the potential increase in exposure of the netting set over the margin period of risk, plus the larger of: (1) The current exposure of the netting set reflecting all collateral held or posted by the Board-regulated institution excluding any collateral called or in dispute; or (2) The largest net exposure including all collateral held or posted under the margin agreement that would not trigger a collateral call. For purposes of this section, the add-on is computed as the expected increase in the netting set's exposure over the margin period of risk (set in accordance with paragraph (d)(5)(iii) of this section); or (B) Effective EPE without a collateral agreement plus any collateral the Board-regulated institution posts to the counterparty that exceeds the required margin amount. (iii) For purposes of this part, including paragraphs (d)(5)(i) and (ii) of this section, the margin period of risk for a netting set subject to a collateral agreement is: (A) Five business days for repo-style transactions subject to daily remargining and daily marking-to-market, and ten business days for other transactions when liquid financial collateral is posted under a daily margin maintenance requirement, or (B) Twenty business days if the number of trades in a netting set exceeds 5,000 at any time during the previous quarter (except if the Board-regulated institution is calculating EAD for a cleared transaction under Sec. 217.133) or contains one or more trades involving illiquid collateral or any derivative contract that cannot be easily replaced. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the margin period of risk, then the Board-regulated institution must use a margin period of risk for that netting set that is at least two times the minimum margin period of risk for that netting set. If the periodicity of the receipt of collateral is N-days, the minimum margin period of risk is the minimum margin period of risk under this paragraph (d) plus N minus 1. This period should be extended to cover any impediments to prompt re- hedging of any market risk. (C) Five business days for an OTC derivative contract or netting set of OTC derivative contracts where the Board-regulated institution is either acting as a financial intermediary and enters into an offsetting transaction with a CCP or where the Board-regulated institution provides a guarantee to the CCP on the performance of the client. A Board- regulated institution must use a longer holding period if the Board- regulated institution determines that a longer period is appropriate. Additionally, the Board may require the Board-regulated institution to set a longer holding period if the Board determines that a longer period is appropriate due to the nature, structure, or characteristics of the transaction or is commensurate with the risks associated with the transaction. (6) Own estimate of alpha. With prior written approval of the Board, a Board-regulated institution may calculate alpha as the ratio of economic capital from a full simulation of counterparty exposure across counterparties that incorporates a joint simulation of market and credit risk factors (numerator) and economic capital based on EPE (denominator), subject to a floor of 1.2. For purposes of this calculation, economic capital is the unexpected losses for all counterparty credit risks measured at a 99.9 percent confidence level over a one-year horizon. To receive approval, the Board-regulated institution must meet the following minimum standards to the satisfaction of the Board: (i) The Board-regulated institution's own estimate of alpha must capture in the numerator the effects of: (A) The material sources of stochastic dependency of distributions of fair values of transactions or portfolios of transactions across counterparties; [[Page 550]] (B) Volatilities and correlations of market risk factors used in the joint simulation, which must be related to the credit risk factor used in the simulation to reflect potential increases in volatility or correlation in an economic downturn, where appropriate; and (C) The granularity of exposures (that is, the effect of a concentration in the proportion of each counterparty's exposure that is driven by a particular risk factor). (ii) The Board-regulated institution must assess the potential model uncertainty in its estimates of alpha. (iii) The Board-regulated institution must calculate the numerator and denominator of alpha in a consistent fashion with respect to modeling methodology, parameter specifications, and portfolio composition. (iv) The Board-regulated institution must review and adjust as appropriate its estimates of the numerator and denominator of alpha on at least a quarterly basis and more frequently when the composition of the portfolio varies over time. (7) Risk-based capital requirements for transactions with specific wrong-way risk. A Board-regulated institution must determine if a repo- style transaction, eligible margin loan, bond option, or equity derivative contract or purchased credit derivative to which the Board- regulated institution applies the internal models methodology under this paragraph (d) has specific wrong-way risk. If a transaction has specific wrong-way risk, the Board-regulated institution must treat the transaction as its own netting set and exclude it from the model described in Sec. 217.132(d)(2) and instead calculate the risk-based capital requirement for the transaction as follows: (i) For an equity derivative contract, by multiplying: (A) K, calculated using the appropriate risk-based capital formula specified in Table 1 of Sec. 217.131 using the PD of the counterparty and LGD equal to 100 percent, by (B) The maximum amount the Board-regulated institution could lose on the equity derivative. (ii) For a purchased credit derivative by multiplying: (A) K, calculated using the appropriate risk-based capital formula specified in Table 1 of Sec. 217.131 using the PD of the counterparty and LGD equal to 100 percent, by (B) The fair value of the reference asset of the credit derivative. (iii) For a bond option, by multiplying: (A) K, calculated using the appropriate risk-based capital formula specified in Table 1 of Sec. 217.131 using the PD of the counterparty and LGD equal to 100 percent, by (B) The smaller of the notional amount of the underlying reference asset and the maximum potential loss under the bond option contract. (iv) For a repo-style transaction or eligible margin loan by multiplying: (A) K, calculated using the appropriate risk-based capital formula specified in Table 1 of Sec. 217.131 using the PD of the counterparty and LGD equal to 100 percent, by (B) The EAD of the transaction determined according to the EAD equation in Sec. 217.132(b)(2), substituting the estimated value of the collateral assuming a default of the counterparty for the value of the collateral in [Sigma]c of the equation. (8) Risk-weighted asset amount for IMM exposures with specific wrong-way risk. The aggregate risk-weighted asset amount for IMM exposures with specific wrong-way risk is the sum of a Board-regulated institution's risk-based capital requirement for purchased credit derivatives that are not bond options with specific wrong-way risk as calculated under paragraph (d)(7)(ii) of this section, a Board-regulated institution's risk-based capital requirement for equity derivatives with specific wrong-way risk as calculated under paragraph (d)(7)(i) of this section, a Board-regulated institution's risk-based capital requirement for bond options with specific wrong-way risk as calculated under paragraph (d)(7)(iii) of this section, and a Board-regulated institution's risk-based capital requirement for repo-style transactions and eligible margin loans with specific wrong-way risk as calculated under paragraph (d)(7)(iv) of this section, multiplied by 12.5. [[Page 551]] (9) Risk-weighted assets for IMM exposures. (i) The Board-regulated institution must insert the assigned risk parameters for each counterparty and netting set into the appropriate formula specified in Table 1 of Sec. 217.131 and multiply the output of the formula by the EADunstressed of the netting set to obtain the unstressed capital requirement for each netting set. A Board-regulated institution that uses an advanced CVA approach that captures migrations in credit spreads under paragraph (e)(3) of this section must set the maturity adjustment (b) in the formula equal to zero. The sum of the unstressed capital requirement calculated for each netting set equals Kunstressed. (ii) The Board-regulated institution must insert the assigned risk parameters for each wholesale obligor and netting set into the appropriate formula specified in Table 1 of Sec. 217.131 and multiply the output of the formula by the EADstressed of the netting set to obtain the stressed capital requirement for each netting set. A Board-regulated institution that uses an advanced CVA approach that captures migrations in credit spreads under paragraph (e)(6) of this section must set the maturity adjustment (b) in the formula equal to zero. The sum of the stressed capital requirement calculated for each netting set equals Kstressed. (iii) The Board-regulated institution's dollar risk-based capital requirement under the internal models methodology equals the larger of Kunstressed and Kstressed. A Board-regulated institution's risk-weighted assets amount for IMM exposures is equal to the capital requirement multiplied by 12.5, plus risk-weighted assets for IMM exposures with specific wrong-way risk in paragraph (d)(8) of this section and those in paragraph (d)(10) of this section. (10) Other measures of counterparty exposure. (i) With prior written approval of the Board, a Board-regulated institution may set EAD equal to a measure of counterparty credit risk exposure, such as peak EAD, that is more conservative than an alpha of 1.4 times the larger of EPEunstressed and EPEstressed for every counterparty whose EAD will be measured under the alternative measure of counterparty exposure. The Board-regulated institution must demonstrate the conservatism of the measure of counterparty credit risk exposure used for EAD. With respect to paragraph (d)(10)(i) of this section: (A) For material portfolios of new OTC derivative products, the Board-regulated institution may assume that the standardized approach for counterparty credit risk pursuant to paragraph (c) of this section meets the conservatism requirement of this section for a period not to exceed 180 days. (B) For immaterial portfolios of OTC derivative contracts, the Board-regulated institution generally may assume that the standardized approach for counterparty credit risk pursuant to paragraph (c) of this section meets the conservatism requirement of this section. (ii) To calculate risk-weighted assets for purposes of the approach in paragraph (d)(10)(i) of this section, the Board-regulated institution must insert the assigned risk parameters for each counterparty and netting set into the appropriate formula specified in Table 1 of Sec. 217.131, multiply the output of the formula by the EAD for the exposure as specified above, and multiply by 12.5. (e) Credit valuation adjustment (CVA) risk-weighted assets--(1) In general. With respect to its OTC derivative contracts, a Board-regulated institution must calculate a CVA risk-weighted asset amount for its portfolio of OTC derivative transactions that are subject to the CVA capital requirement using the simple CVA approach described in paragraph (e)(5) of this section or, with prior written approval of the Board, the advanced CVA approach described in paragraph (e)(6) of this section. A Board-regulated institution that receives prior Board approval to calculate its CVA risk-weighted asset amounts for a class of counterparties using the advanced CVA approach must continue to use that approach for that class of counterparties until it notifies the Board in writing that the Board-regulated institution expects to begin calculating its CVA risk-weighted asset amount using the simple CVA approach. Such notice must include an explanation of the Board-regulated institution's rationale and the date upon [[Page 552]] which the Board-regulated institution will begin to calculate its CVA risk-weighted asset amount using the simple CVA approach. (2) Market risk Board-regulated institutions. Notwithstanding the prior approval requirement in paragraph (e)(1) of this section, a market risk Board-regulated institution may calculate its CVA risk-weighted asset amount using the advanced CVA approach if the Board-regulated institution has Board approval to: (i) Determine EAD for OTC derivative contracts using the internal models methodology described in paragraph (d) of this section; and (ii) Determine its specific risk add-on for debt positions issued by the counterparty using a specific risk model described in Sec. 217.207(b). (3) Recognition of hedges. (i) A Board-regulated institution may recognize a single name CDS, single name contingent CDS, any other equivalent hedging instrument that references the counterparty directly, and index credit default swaps (CDSind) as a CVA hedge under paragraph (e)(5)(ii) of this section or paragraph (e)(6) of this section, provided that the position is managed as a CVA hedge in accordance with the Board-regulated institution's hedging policies. (ii) A Board-regulated institution shall not recognize as a CVA hedge any tranched or n\th\-to-default credit derivative. (4) Total CVA risk-weighted assets. Total CVA risk-weighted assets is the CVA capital requirement, KCVA, calculated for a Board- regulated institution's entire portfolio of OTC derivative counterparties that are subject to the CVA capital requirement, multiplied by 12.5. (5) Simple CVA approach. (i) Under the simple CVA approach, the CVA capital requirement, KCVA, is calculated according to the following formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.035 (A) wi = the weight applicable to counterparty i under Table 4 to this section; (B) Mi = the EAD-weighted average of the effective maturity of each netting set with counterparty i (where each netting set's effective maturity can be no less than one year.) (C) EADitotal = the sum of the EAD for all netting sets of OTC derivative contracts with counterparty i calculated using the standardized approach to counterparty credit risk described in paragraph (c) of this section or the internal models methodology described in paragraph (d) of this section. When the Board-regulated institution calculates EAD under paragraph (c) of this section, such EAD may be adjusted for purposes of calculating EADitotal by multiplying EAD by (1- exp(-0.05 x Mi))/(0.05 x Mi), where ``exp'' is the exponential function. When the Board-regulated institution calculates EAD under paragraph (d) of this section, EADitotal equals EADunstressed. (D) Mihedge = the notional weighted average maturity of the hedge instrument. (E) Bi = the sum of the notional amounts of any purchased single name CDS referencing counterparty i that is used to hedge CVA risk to counterparty i multiplied by (1-exp(-0.05 x Mihedge))/(0.05 x Mihedge). (F) Mind = the maturity of the CDSind or the notional weighted average maturity of any CDSind purchased to hedge CVA risk of counterparty i. (G) Bind = the notional amount of one or more CDSind purchased to hedge CVA [[Page 553]] risk for counterparty i multiplied by (1-exp(-0.05 x Mind))/(0.05 x Mind) (H) wind = the weight applicable to the CDSind based on the average weight of the underlying reference names that comprise the index under Table 4 to this section. (ii) The Board-regulated institution may treat the notional amount of the index attributable to a counterparty as a single name hedge of counterparty i (Bi,) when calculating KCVA, and subtract the notional amount of Bi from the notional amount of the CDSind. A Board-regulated institution must treat the CDSind hedge with the notional amount reduced by Bi as a CVA hedge. Table 4 to Sec. 217.132--Assignment of Counterparty Weight ------------------------------------------------------------------------ Weight wi (in Internal PD (in percent) percent) ------------------------------------------------------------------------ 0.00-0.07............................................... 0.70 0.070-0.15................................... 0.80 0.15-0.40.................................... 1.00 0.40-2.00.................................... 2.00 2.00-6.00.................................... 3.00 6.00......................................... 10.00 ------------------------------------------------------------------------ (6) Advanced CVA approach. (i) A Board-regulated institution may use the VaR model that it uses to determine specific risk under Sec. 217.207(b) or another VaR model that meets the quantitative requirements of Sec. 217.205(b) and Sec. 217.207(b)(1) to calculate its CVA capital requirement for a counterparty by modeling the impact of changes in the counterparties' credit spreads, together with any recognized CVA hedges, on the CVA for the counterparties, subject to the following requirements: (A) The VaR model must incorporate only changes in the counterparties' credit spreads, not changes in other risk factors. The VaR model does not need to capture jump-to-default risk; (B) A Board-regulated institution that qualifies to use the advanced CVA approach must include in that approach any immaterial OTC derivative portfolios for which it uses the standardized approach to counterparty credit risk in paragraph (c) of this section according to paragraph (e)(6)(viii) of this section; and (C) A Board-regulated institution must have the systems capability to calculate the CVA capital requirement for a counterparty on a daily basis (but is not required to calculate the CVA capital requirement on a daily basis). (ii) Under the advanced CVA approach, the CVA capital requirement, KCVA, is calculated according to the following formulas: [GRAPHIC] [TIFF OMITTED] TR11OC13.037 Where (A) ti = the time of the i-th revaluation time bucket starting from t0 = 0. (B) tT = the longest contractual maturity across the OTC derivative contracts with the counterparty. [[Page 554]] (C) si = the CDS spread for the counterparty at tenor ti used to calculate the CVA for the counterparty. If a CDS spread is not available, the Board-regulated institution must use a proxy spread based on the credit quality, industry and region of the counterparty. (D) LGDMKT = the loss given default of the counterparty based on the spread of a publicly traded debt instrument of the counterparty, or, where a publicly traded debt instrument spread is not available, a proxy spread based on the credit quality, industry, and region of the counterparty. Where no market information and no reliable proxy based on the credit quality, industry, and region of the counterparty are available to determine LGDMKT, a Board-regulated institution may use a conservative estimate when determining LGDMKT, subject to approval by the Board. (E) EEi = the sum of the expected exposures for all netting sets with the counterparty at revaluation time ti, calculated according to paragraphs (e)(6)(iv)(A) and (e)(6)(v)(A) of this section. (F) Di = the risk-free discount factor at time ti, where D0 = 1. (G) Exp is the exponential function. (H) The subscript j refers either to a stressed or an unstressed calibration as described in paragraphs (e)(6)(iv) and (v) of this section. (iii) Notwithstanding paragraphs (e)(6)(i) and (e)(6)(ii) of this section, a Board-regulated institution must use the formulas in paragraphs (e)(6)(iii)(A) or (e)(6)(iii)(B) of this section to calculate credit spread sensitivities if its VaR model is not based on full repricing. (A) If the VaR model is based on credit spread sensitivities for specific tenors, the Board-regulated institution must calculate each credit spread sensitivity according to the following formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.039 (iv) To calculate the CVAUnstressed measure for purposes of paragraph (e)(6)(ii) of this section, the Board-regulated institution must: (A) Use the EEi calculated using the calibration of paragraph (d)(3)(vii) of this section, except as provided in Sec. 217.132(e)(6)(vi), and (B) Use the historical observation period required under Sec. 217.205(b)(2). (v) To calculate the CVAStressed measure for purposes of paragraph (e)(6)(ii) [[Page 555]] of this section, the Board-regulated institution must: (A) Use the EEi calculated using the stress calibration in paragraph (d)(3)(viii) of this section except as provided in paragraph (e)(6)(vi) of this section. (B) Calibrate VaR model inputs to historical data from the most severe twelve-month stress period contained within the three-year stress period used to calculate EEi. The Board may require a Board- regulated institution to use a different period of significant financial stress in the calculation of the CVAStressed measure. (vi) If a Board-regulated institution captures the effect of a collateral agreement on EAD using the method described in paragraph (d)(5)(ii) of this section, for purposes of paragraph (e)(6)(ii) of this section, the Board-regulated institution must calculate EEi using the method in paragraph (d)(5)(ii) of this section and keep that EE constant with the maturity equal to the maximum of: (A) Half of the longest maturity of a transaction in the netting set, and (B) The notional weighted average maturity of all transactions in the netting set. (vii) For purposes of paragraph (e)(6) of this section, the Board- regulated institution's VaR model must capture the basis between the spreads of any CDSind that is used as the hedging instrument and the hedged counterparty exposure over various time periods, including benign and stressed environments. If the VaR model does not capture that basis, the Board-regulated institution must reflect only 50 percent of the notional amount of the CDSind hedge in the VaR model. (viii) If a Board-regulated institution uses the standardized approach for counterparty credit risk pursuant to paragraph (c) of this section to calculate the EAD for any immaterial portfolios of OTC derivative contracts, the Board-regulated institution must use that EAD as a constant EE in the formula for the calculation of CVA with the maturity equal to the maximum of: (A) Half of the longest maturity of a transaction in the netting set; and (B) The notional weighted average maturity of all transactions in the netting set. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 80 FR 41421, July 15, 2015; 85 FR 4419, Jan. 24, 2020; 85 FR 57961, Sept. 17, 2020; 86 FR 738, Jan. 6, 2021] Sec. 217.133 Cleared transactions. (a) General requirements--(1) Clearing member clients. A Board- regulated institution that is a clearing member client must use the methodologies described in paragraph (b) of this section to calculate risk-weighted assets for a cleared transaction. (2) Clearing members. A Board-regulated institution that is a clearing member must use the methodologies described in paragraph (c) of this section to calculate its risk-weighted assets for a cleared transaction and paragraph (d) of this section to calculate its risk- weighted assets for its default fund contribution to a CCP. (b) Clearing member client Board-regulated institutions--(1) Risk- weighted assets for cleared transactions. (i) To determine the risk- weighted asset amount for a cleared transaction, a Board-regulated institution that is a clearing member client must multiply the trade exposure amount for the cleared transaction, calculated in accordance with paragraph (b)(2) of this section, by the risk weight appropriate for the cleared transaction, determined in accordance with paragraph (b)(3) of this section. (ii) A clearing member client Board-regulated institution's total risk-weighted assets for cleared transactions is the sum of the risk- weighted asset amounts for all of its cleared transactions. (2) Trade exposure amount. (i) For a cleared transaction that is a derivative contract or a netting set of derivative contracts, trade exposure amount equals the EAD for the derivative contract or netting set of derivative contracts calculated using the methodology used to calculate EAD for derivative contracts set forth in Sec. 217.132(c) or (d), plus the fair value of the collateral posted by the clearing member client Board-regulated institution and held by the CCP or a clearing member in a manner that is not bankruptcy remote. When the Board- regulated institution [[Page 556]] calculates EAD for the cleared transaction using the methodology in Sec. 217.132(d), EAD equals EADunstressed. (ii) For a cleared transaction that is a repo-style transaction or netting set of repo-style transactions, trade exposure amount equals the EAD for the repo-style transaction calculated using the methodology set forth in Sec. 217.132(b)(2) or (3) or (d), plus the fair value of the collateral posted by the clearing member client Board-regulated institution and held by the CCP or a clearing member in a manner that is not bankruptcy remote. When the Board-regulated institution calculates EAD for the cleared transaction under Sec. 217.132(d), EAD equals EADunstressed. (3) Cleared transaction risk weights. (i) For a cleared transaction with a QCCP, a clearing member client Board-regulated institution must apply a risk weight of: (A) 2 percent if the collateral posted by the Board-regulated institution to the QCCP or clearing member is subject to an arrangement that prevents any loss to the clearing member client Board-regulated institution due to the joint default or a concurrent insolvency, liquidation, or receivership proceeding of the clearing member and any other clearing member clients of the clearing member; and the clearing member client Board-regulated institution has conducted sufficient legal review to conclude with a well-founded basis (and maintains sufficient written documentation of that legal review) that in the event of a legal challenge (including one resulting from an event of default or from liquidation, insolvency, or receivership proceedings) the relevant court and administrative authorities would find the arrangements to be legal, valid, binding, and enforceable under the law of the relevant jurisdictions. (B) 4 percent, if the requirements of paragraph (b)(3)(i)(A) of this section are not met. (ii) For a cleared transaction with a CCP that is not a QCCP, a clearing member client Board-regulated institution must apply the risk weight applicable to the CCP under subpart D of this part. (4) Collateral. (i) Notwithstanding any other requirement of this section, collateral posted by a clearing member client Board-regulated institution that is held by a custodian (in its capacity as a custodian) in a manner that is bankruptcy remote from the CCP, clearing member, and other clearing member clients of the clearing member, is not subject to a capital requirement under this section. (ii) A clearing member client Board-regulated institution must calculate a risk-weighted asset amount for any collateral provided to a CCP, clearing member or a custodian in connection with a cleared transaction in accordance with requirements under subparts E or F of this part, as applicable. (c) Clearing member Board-regulated institution--(1) Risk-weighted assets for cleared transactions. (i) To determine the risk-weighted asset amount for a cleared transaction, a clearing member Board- regulated institution must multiply the trade exposure amount for the cleared transaction, calculated in accordance with paragraph (c)(2) of this section by the risk weight appropriate for the cleared transaction, determined in accordance with paragraph (c)(3) of this section. (ii) A clearing member Board-regulated institution's total risk- weighted assets for cleared transactions is the sum of the risk-weighted asset amounts for all of its cleared transactions. (2) Trade exposure amount. A clearing member Board-regulated institution must calculate its trade exposure amount for a cleared transaction as follows: (i) For a cleared transaction that is a derivative contract or a netting set of derivative contracts, trade exposure amount equals the EAD calculated using the methodology used to calculate EAD for derivative contracts set forth in Sec. 217.132(c) or (d), plus the fair value of the collateral posted by the clearing member Board-regulated institution and held by the CCP in a manner that is not bankruptcy remote. When the clearing member Board-regulated institution calculates EAD for the cleared transaction using the methodology in Sec. 217.132(d), EAD equals EADunstressed. (ii) For a cleared transaction that is a repo-style transaction or netting set [[Page 557]] of repo-style transactions, trade exposure amount equals the EAD calculated under Sec. 217.132(b)(2) or (3) or (d), plus the fair value of the collateral posted by the clearing member Board-regulated institution and held by the CCP in a manner that is not bankruptcy remote. When the clearing member Board-regulated institution calculates EAD for the cleared transaction under Sec. 217.132(d), EAD equals EADunstressed. (3) Cleared transaction risk weights. (i) A clearing member Board- regulated institution must apply a risk weight of 2 percent to the trade exposure amount for a cleared transaction with a QCCP. (ii) For a cleared transaction with a CCP that is not a QCCP, a clearing member Board-regulated institution must apply the risk weight applicable to the CCP according to subpart D of this part. (iii) Notwithstanding paragraphs (c)(3)(i) and (ii) of this section, a clearing member Board-regulated institution may apply a risk weight of zero percent to the trade exposure amount for a cleared transaction with a QCCP where the clearing member Board-regulated institution is acting as a financial intermediary on behalf of a clearing member client, the transaction offsets another transaction that satisfies the requirements set forth in Sec. 217.3(a), and the clearing member Board-regulated institution is not obligated to reimburse the clearing member client in the event of the QCCP default. (4) Collateral. (i) Notwithstanding any other requirement of this section, collateral posted by a clearing member Board-regulated institution that is held by a custodian (in its capacity as a custodian) in a manner that is bankruptcy remote from the CCP, clearing member, and other clearing member clients of the clearing member, is not subject to a capital requirement under this section. (ii) A clearing member Board-regulated institution must calculate a risk-weighted asset amount for any collateral provided to a CCP, clearing member or a custodian in connection with a cleared transaction in accordance with requirements under subparts E or F of this part, as applicable. (d) Default fund contributions--(1) General requirement. A clearing member Board-regulated institution must determine the risk-weighted asset amount for a default fund contribution to a CCP at least quarterly, or more frequently if, in the opinion of the Board-regulated institution or the Board, there is a material change in the financial condition of the CCP. (2) Risk-weighted asset amount for default fund contributions to nonqualifying CCPs. A clearing member Board-regulated institution's risk-weighted asset amount for default fund contributions to CCPs that are not QCCPs equals the sum of such default fund contributions multiplied by 1,250 percent, or an amount determined by the Board, based on factors such as size, structure, and membership characteristics of the CCP and riskiness of its transactions, in cases where such default fund contributions may be unlimited. (3) Risk-weighted asset amount for default fund contributions to QCCPs. A clearing member Board-regulated institution's risk-weighted asset amount for default fund contributions to QCCPs equals the sum of its capital requirement, KCM for each QCCP, as calculated under the methodology set forth in paragraph (d)(4) of this section, multiplied by 12.5. (4) Capital requirement for default fund contributions to a QCCP. A clearing member Board-regulated institution's capital requirement for its default fund contribution to a QCCP (KCM) is equal to: [[Page 558]] [GRAPHIC] [TIFF OMITTED] TR17SE20.014 (5) Hypothetical capital requirement of a QCCP. Where a QCCP has provided its KCCP, a Board-regulated institution must rely on such disclosed figure instead of calculating KCCP under this paragraph (d)(5), unless the Board-regulated institution determines that a more conservative figure is appropriate based on the nature, structure, or characteristics of the QCCP. The hypothetical capital requirement of a QCCP (KCCP), as determined by the Board-regulated institution, is equal to: KCCP = [Sigma]CMi EADi * 1.6 percent Where: CMi is each clearing member of the QCCP; and EADi is the exposure amount of the QCCP to each clearing member of the QCCP, as determined under paragraph (d)(6) of this section. (6) EAD of a QCCP to a clearing member. (i) The EAD of a QCCP to a clearing member is equal to the sum of the EAD for derivative contracts determined under paragraph (d)(6)(ii) of this section and the EAD for repo-style transactions determined under paragraph (d)(6)(iii) of this section. (ii) With respect to any derivative contracts between the QCCP and the clearing member that are cleared transactions and any guarantees that the clearing member has provided to the QCCP with respect to performance of a clearing member client on a derivative contract, the EAD is equal to the exposure amount of the QCCP to the clearing member for all such derivative contracts and guarantees of derivative contracts calculated under SA-CCR in Sec. 217.132(c) (or, with respect to a QCCP located outside the United States, under a substantially identical methodology in effect in the jurisdiction) using a value of 10 business days for purposes of Sec. 217.132(c)(9)(iv); less the value of all collateral held by the QCCP posted by the clearing member or a client of the clearing member in connection with a derivative contract for which the clearing member has provided a guarantee to the QCCP and the amount of the prefunded default fund contribution of the clearing member to the QCCP. (iii) With respect to any repo-style transactions between the QCCP and a [[Page 559]] clearing member that are cleared transactions, EAD is equal to: EADi = max{EBRMi-IMi-DFi;0{time} Where: EBRMi is the exposure amount of the QCCP to each clearing member for all repo-style transactions between the QCCP and the clearing member, as determined under Sec. 217.132(b)(2) and without recognition of the initial margin collateral posted by the clearing member to the QCCP with respect to the repo-style transactions or the prefunded default fund contribution of the clearing member institution to the QCCP; IMi is the initial margin collateral posted by each clearing member to the QCCP with respect to the repo-style transactions; and DFi is the prefunded default fund contribution of each clearing member to the QCCP that is not already deducted in paragraph (d)(6)(ii) of this section. (iv) EAD must be calculated separately for each clearing member's sub-client accounts and sub-house account (i.e., for the clearing member's proprietary activities). If the clearing member's collateral and its client's collateral are held in the same default fund contribution account, then the EAD of that account is the sum of the EAD for the client-related transactions within the account and the EAD of the house-related transactions within the account. For purposes of determining such EADs, the independent collateral of the clearing member and its client must be allocated in proportion to the respective total amount of independent collateral posted by the clearing member to the QCCP. (v) If any account or sub-account contains both derivative contracts and repo-style transactions, the EAD of that account is the sum of the EAD for the derivative contracts within the account and the EAD of the repo-style transactions within the account. If independent collateral is held for an account containing both derivative contracts and repo-style transactions, then such collateral must be allocated to the derivative contracts and repo-style transactions in proportion to the respective product specific exposure amounts, calculated, excluding the effects of collateral, according to Sec. 217.132(b) for repo-style transactions and to Sec. 217.132(c)(5) for derivative contracts. (vi) Notwithstanding any other provision of paragraph (d) of this section, with the prior approval of the Board, a Board-regulated institution may determine the risk-weighted asset amount for a default fund contribution to a QCCP according to Sec. 217.35(d)(3)(ii). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 80 FR 41421, July 15, 2015; 84 FR 35269, July 22, 2019; 85 FR 4426, Jan. 24, 2020; 85 FR 57962, Sept. 17, 2020] Sec. 217.134 Guarantees and credit derivatives: PD substitution and LGD adjustment approaches. (a) Scope. (1) This section applies to wholesale exposures for which: (i) Credit risk is fully covered by an eligible guarantee or eligible credit derivative; or (ii) Credit risk is covered on a pro rata basis (that is, on a basis in which the Board-regulated institution and the protection provider share losses proportionately) by an eligible guarantee or eligible credit derivative. (2) Wholesale exposures on which there is a tranching of credit risk (reflecting at least two different levels of seniority) are securitization exposures subject to Sec. 217.141 through Sec. 217.145. (3) A Board-regulated institution may elect to recognize the credit risk mitigation benefits of an eligible guarantee or eligible credit derivative covering an exposure described in paragraph (a)(1) of this section by using the PD substitution approach or the LGD adjustment approach in paragraph (c) of this section or, if the transaction qualifies, using the double default treatment in Sec. 217.135. A Board- regulated institution's PD and LGD for the hedged exposure may not be lower than the PD and LGD floors described in Sec. 217.131(d)(2) and (d)(3). (4) If multiple eligible guarantees or eligible credit derivatives cover a single exposure described in paragraph (a)(1) of this section, a Board-regulated institution may treat the hedged exposure as multiple separate exposures each covered by a single eligible guarantee or eligible credit derivative and may calculate a separate risk-based capital requirement for each separate [[Page 560]] exposure as described in paragraph (a)(3) of this section. (5) If a single eligible guarantee or eligible credit derivative covers multiple hedged wholesale exposures described in paragraph (a)(1) of this section, a Board-regulated institution must treat each hedged exposure as covered by a separate eligible guarantee or eligible credit derivative and must calculate a separate risk-based capital requirement for each exposure as described in paragraph (a)(3) of this section. (6) A Board-regulated institution must use the same risk parameters for calculating ECL as it uses for calculating the risk-based capital requirement for the exposure. (b) Rules of recognition. (1) A Board-regulated institution may only recognize the credit risk mitigation benefits of eligible guarantees and eligible credit derivatives. (2) A Board-regulated institution may only recognize the credit risk mitigation benefits of an eligible credit derivative to hedge an exposure that is different from the credit derivative's reference exposure used for determining the derivative's cash settlement value, deliverable obligation, or occurrence of a credit event if: (i) The reference exposure ranks pari passu (that is, equally) with or is junior to the hedged exposure; and (ii) The reference exposure and the hedged exposure are exposures to the same legal entity, and legally enforceable cross-default or cross- acceleration clauses are in place to assure payments under the credit derivative are triggered when the obligor fails to pay under the terms of the hedged exposure. (c) Risk parameters for hedged exposures--(1) PD substitution approach--(i) Full coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is greater than or equal to the EAD of the hedged exposure, a Board-regulated institution may recognize the guarantee or credit derivative in determining the Board-regulated institution's risk-based capital requirement for the hedged exposure by substituting the PD associated with the rating grade of the protection provider for the PD associated with the rating grade of the obligor in the risk-based capital formula applicable to the guarantee or credit derivative in Table 1 of Sec. 217.131 and using the appropriate LGD as described in paragraph (c)(1)(iii) of this section. If the Board-regulated institution determines that full substitution of the protection provider's PD leads to an inappropriate degree of risk mitigation, the Board-regulated institution may substitute a higher PD than that of the protection provider. (ii) Partial coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and P of the guarantee or credit derivative is less than the EAD of the hedged exposure, the Board-regulated institution must treat the hedged exposure as two separate exposures (protected and unprotected) in order to recognize the credit risk mitigation benefit of the guarantee or credit derivative. (A) The Board-regulated institution must calculate its risk-based capital requirement for the protected exposure under Sec. 217.131, where PD is the protection provider's PD, LGD is determined under paragraph (c)(1)(iii) of this section, and EAD is P. If the Board- regulated institution determines that full substitution leads to an inappropriate degree of risk mitigation, the Board-regulated institution may use a higher PD than that of the protection provider. (B) The Board-regulated institution must calculate its risk-based capital requirement for the unprotected exposure under Sec. 217.131, where PD is the obligor's PD, LGD is the hedged exposure's LGD (not adjusted to reflect the guarantee or credit derivative), and EAD is the EAD of the original hedged exposure minus P. (C) The treatment in paragraph (c)(1)(ii) of this section is applicable when the credit risk of a wholesale exposure is covered on a partial pro rata basis or when an adjustment is made to the effective notional amount of the guarantee or credit derivative under paragraphs (d), (e), or (f) of this section. [[Page 561]] (iii) LGD of hedged exposures. The LGD of a hedged exposure under the PD substitution approach is equal to: (A) The lower of the LGD of the hedged exposure (not adjusted to reflect the guarantee or credit derivative) and the LGD of the guarantee or credit derivative, if the guarantee or credit derivative provides the Board-regulated institution with the option to receive immediate payout upon triggering the protection; or (B) The LGD of the guarantee or credit derivative, if the guarantee or credit derivative does not provide the Board-regulated institution with the option to receive immediate payout upon triggering the protection. (2) LGD adjustment approach--(i) Full coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is greater than or equal to the EAD of the hedged exposure, the Board-regulated institution's risk-based capital requirement for the hedged exposure is the greater of: (A) The risk-based capital requirement for the exposure as calculated under Sec. 217.131, with the LGD of the exposure adjusted to reflect the guarantee or credit derivative; or (B) The risk-based capital requirement for a direct exposure to the protection provider as calculated under Sec. 217.131, using the PD for the protection provider, the LGD for the guarantee or credit derivative, and an EAD equal to the EAD of the hedged exposure. (ii) Partial coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is less than the EAD of the hedged exposure, the Board- regulated institution must treat the hedged exposure as two separate exposures (protected and unprotected) in order to recognize the credit risk mitigation benefit of the guarantee or credit derivative. (A) The Board-regulated institution's risk-based capital requirement for the protected exposure would be the greater of: (1) The risk-based capital requirement for the protected exposure as calculated under Sec. 217.131, with the LGD of the exposure adjusted to reflect the guarantee or credit derivative and EAD set equal to P; or (2) The risk-based capital requirement for a direct exposure to the guarantor as calculated under Sec. 217.131, using the PD for the protection provider, the LGD for the guarantee or credit derivative, and an EAD set equal to P. (B) The Board-regulated institution must calculate its risk-based capital requirement for the unprotected exposure under Sec. 217.131, where PD is the obligor's PD, LGD is the hedged exposure's LGD (not adjusted to reflect the guarantee or credit derivative), and EAD is the EAD of the original hedged exposure minus P. (3) M of hedged exposures. For purposes of this paragraph (c), the M of the hedged exposure is the same as the M of the exposure if it were unhedged. (d) Maturity mismatch. (1) A Board-regulated institution that recognizes an eligible guarantee or eligible credit derivative in determining its risk-based capital requirement for a hedged exposure must adjust the effective notional amount of the credit risk mitigant to reflect any maturity mismatch between the hedged exposure and the credit risk mitigant. (2) A maturity mismatch occurs when the residual maturity of a credit risk mitigant is less than that of the hedged exposure(s). (3) The residual maturity of a hedged exposure is the longest possible remaining time before the obligor is scheduled to fulfil its obligation on the exposure. If a credit risk mitigant has embedded options that may reduce its term, the Board-regulated institution (protection purchaser) must use the shortest possible residual maturity for the credit risk mitigant. If a call is at the discretion of the protection provider, the residual maturity of the credit risk mitigant is at the first call date. If the call is at the discretion of the Board-regulated institution (protection purchaser), but the terms of the arrangement at origination of the credit risk mitigant contain a positive [[Page 562]] incentive for the Board-regulated institution to call the transaction before contractual maturity, the remaining time to the first call date is the residual maturity of the credit risk mitigant.\31\ --------------------------------------------------------------------------- \31\ For example, where there is a step-up in cost in conjunction with a call feature or where the effective cost of protection increases over time even if credit quality remains the same or improves, the residual maturity of the credit risk mitigant will be the remaining time to the first call. --------------------------------------------------------------------------- (4) A credit risk mitigant with a maturity mismatch may be recognized only if its original maturity is greater than or equal to one year and its residual maturity is greater than three months. (5) When a maturity mismatch exists, the Board-regulated institution must apply the following adjustment to the effective notional amount of the credit risk mitigant: Pm = E x (t - 0.25)/(T - 0.25), where: (i) Pm = effective notional amount of the credit risk mitigant, adjusted for maturity mismatch; (ii) E = effective notional amount of the credit risk mitigant; (iii) t = the lesser of T or the residual maturity of the credit risk mitigant, expressed in years; and (iv) T = the lesser of five or the residual maturity of the hedged exposure, expressed in years. (e) Credit derivatives without restructuring as a credit event. If a Board-regulated institution recognizes an eligible credit derivative that does not include as a credit event a restructuring of the hedged exposure involving forgiveness or postponement of principal, interest, or fees that results in a credit loss event (that is, a charge-off, specific provision, or other similar debit to the profit and loss account), the Board-regulated institution must apply the following adjustment to the effective notional amount of the credit derivative: Pr = Pm x 0.60, where: (1) Pr = effective notional amount of the credit risk mitigant, adjusted for lack of restructuring event (and maturity mismatch, if applicable); and (2) Pm = effective notional amount of the credit risk mitigant adjusted for maturity mismatch (if applicable). (f) Currency mismatch. (1) If a Board-regulated institution recognizes an eligible guarantee or eligible credit derivative that is denominated in a currency different from that in which the hedged exposure is denominated, the Board-regulated institution must apply the following formula to the effective notional amount of the guarantee or credit derivative: Pc = Pr x (1 - HFX), where: (i) Pc = effective notional amount of the credit risk mitigant, adjusted for currency mismatch (and maturity mismatch and lack of restructuring event, if applicable); (ii) Pr = effective notional amount of the credit risk mitigant (adjusted for maturity mismatch and lack of restructuring event, if applicable); and (iii) HFX = haircut appropriate for the currency mismatch between the credit risk mitigant and the hedged exposure. (2) A Board-regulated institution must set HFX equal to 8 percent unless it qualifies for the use of and uses its own internal estimates of foreign exchange volatility based on a ten-business-day holding period and daily marking-to-market and remargining. A Board- regulated institution qualifies for the use of its own internal estimates of foreign exchange volatility if it qualifies for: (i) The own-estimates haircuts in Sec. 217.132(b)(2)(iii); (ii) The simple VaR methodology in Sec. 217.132(b)(3); or (iii) The internal models methodology in Sec. 217.132(d). (3) A Board-regulated institution must adjust HFX calculated in paragraph (f)(2) of this section upward if the Board- regulated institution revalues the guarantee or credit derivative less frequently than once every ten business days using the square root of time formula provided in Sec. 217.132(b)(2)(iii)(A)(2). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 78295, Dec. 30, 2014; 85 FR 4419, Jan. 24, 2020] [[Page 563]] Sec. 217.135 Guarantees and credit derivatives: double default treatment. (a) Eligibility and operational criteria for double default treatment. A Board-regulated institution may recognize the credit risk mitigation benefits of a guarantee or credit derivative covering an exposure described in Sec. 217.134(a)(1) by applying the double default treatment in this section if all the following criteria are satisfied: (1) The hedged exposure is fully covered or covered on a pro rata basis by: (i) An eligible guarantee issued by an eligible double default guarantor; or (ii) An eligible credit derivative that meets the requirements of Sec. 217.134(b)(2) and that is issued by an eligible double default guarantor. (2) The guarantee or credit derivative is: (i) An uncollateralized guarantee or uncollateralized credit derivative (for example, a credit default swap) that provides protection with respect to a single reference obligor; or (ii) An n\th\-to-default credit derivative (subject to the requirements of Sec. 217.142(m). (3) The hedged exposure is a wholesale exposure (other than a sovereign exposure). (4) The obligor of the hedged exposure is not: (i) An eligible double default guarantor or an affiliate of an eligible double default guarantor; or (ii) An affiliate of the guarantor. (5) The Board-regulated institution does not recognize any credit risk mitigation benefits of the guarantee or credit derivative for the hedged exposure other than through application of the double default treatment as provided in this section. (6) The Board-regulated institution has implemented a process (which has received the prior, written approval of the Board) to detect excessive correlation between the creditworthiness of the obligor of the hedged exposure and the protection provider. If excessive correlation is present, the Board-regulated institution may not use the double default treatment for the hedged exposure. (b) Full coverage. If a transaction meets the criteria in paragraph (a) of this section and the protection amount (P) of the guarantee or credit derivative is at least equal to the EAD of the hedged exposure, the Board-regulated institution may determine its risk-weighted asset amount for the hedged exposure under paragraph (e) of this section. (c) Partial coverage. If a transaction meets the criteria in paragraph (a) of this section and the protection amount (P) of the guarantee or credit derivative is less than the EAD of the hedged exposure, the Board-regulated institution must treat the hedged exposure as two separate exposures (protected and unprotected) in order to recognize double default treatment on the protected portion of the exposure: (1) For the protected exposure, the Board-regulated institution must set EAD equal to P and calculate its risk-weighted asset amount as provided in paragraph (e) of this section; and (2) For the unprotected exposure, the Board-regulated institution must set EAD equal to the EAD of the original exposure minus P and then calculate its risk-weighted asset amount as provided in Sec. 217.131. (d) Mismatches. For any hedged exposure to which a Board-regulated institution applies double default treatment under this part, the Board- regulated institution must make applicable adjustments to the protection amount as required in Sec. 217.134(d), (e), and (f). (e) The double default dollar risk-based capital requirement. The dollar risk-based capital requirement for a hedged exposure to which a Board-regulated institution has applied double default treatment is KDD multiplied by the EAD of the exposure. KDD is calculated according to the following formula: KDD = Ko x (0.15 + 160 x PDg), Where: (1) [[Page 564]] [GRAPHIC] [TIFF OMITTED] TR11OC13.048 (2) PDg = PD of the protection provider. (3) PDo = PD of the obligor of the hedged exposure. (4) LGDg = (i) The lower of the LGD of the hedged exposure (not adjusted to reflect the guarantee or credit derivative) and the LGD of the guarantee or credit derivative, if the guarantee or credit derivative provides the Board-regulated institution with the option to receive immediate payout on triggering the protection; or (ii) The LGD of the guarantee or credit derivative, if the guarantee or credit derivative does not provide the Board-regulated institution with the option to receive immediate payout on triggering the protection; and (5) [rho]os (asset value correlation of the obligor) is calculated according to the appropriate formula for (R) provided in Table 1 in Sec. 217.131, with PD equal to PDo. (6) b (maturity adjustment coefficient) is calculated according to the formula for b provided in Table 1 in Sec. 217.131, with PD equal to the lesser of PDo and PDg; and (7) M (maturity) is the effective maturity of the guarantee or credit derivative, which may not be less than one year or greater than five years. Sec. 217.136 Unsettled transactions. (a) Definitions. For purposes of this section: (1) Delivery-versus-payment (DvP) transaction means a securities or commodities transaction in which the buyer is obligated to make payment only if the seller has made delivery of the securities or commodities and the seller is obligated to deliver the securities or commodities only if the buyer has made payment. (2) Payment-versus-payment (PvP) transaction means a foreign exchange transaction in which each counterparty is obligated to make a final transfer of one or more currencies only if the other counterparty has made a final transfer of one or more currencies. (3) A transaction has a normal settlement period if the contractual settlement period for the transaction is equal to or less than the market standard for the instrument underlying the transaction and equal to or less than five business days. (4) The positive current exposure of a Board-regulated institution for a transaction is the difference between the transaction value at the agreed settlement price and the current market price of the transaction, if the difference results in a credit exposure of the Board-regulated institution to the counterparty. (b) Scope. This section applies to all transactions involving securities, foreign exchange instruments, and commodities that have a risk of delayed settlement or delivery. This section does not apply to: (1) Cleared transactions that are subject to daily marking-to-market and daily receipt and payment of variation margin; (2) Repo-style transactions, including unsettled repo-style transactions (which are addressed in Sec. Sec. 217.131 and 132); (3) One-way cash payments on OTC derivative contracts (which are addressed in Sec. Sec. 217. 131 and 132); or (4) Transactions with a contractual settlement period that is longer than the normal settlement period (which are treated as OTC derivative contracts and addressed in Sec. Sec. 217.131 and 132). (c) System-wide failures. In the case of a system-wide failure of a settlement or clearing system, or a central counterparty, the Board may waive risk-based capital requirements for unsettled and failed transactions until the situation is rectified. (d) Delivery-versus-payment (DvP) and payment-versus-payment (PvP) transactions. A Board-regulated institution must hold risk-based capital against any DvP or PvP transaction with a normal settlement period if the Board- [[Page 565]] regulated institution's counterparty has not made delivery or payment within five business days after the settlement date. The Board-regulated institution must determine its risk-weighted asset amount for such a transaction by multiplying the positive current exposure of the transaction for the Board-regulated institution by the appropriate risk weight in Table 1 to Sec. 217.136. Table 1 to Sec. 217.136--Risk Weights for Unsettled DvP and PvP Transactions ------------------------------------------------------------------------ Risk weight to be applied to Number of business days after contractual settlement positive date current exposure (in percent) ------------------------------------------------------------------------ From 5 to 15............................................ 100 From 16 to 30........................................... 625 From 31 to 45........................................... 937.5 46 or more.............................................. 1,250 ------------------------------------------------------------------------ (e) Non-DvP/non-PvP (non-delivery-versus-payment/non-payment-versus- payment) transactions. (1) A Board-regulated institution must hold risk- based capital against any non-DvP/non-PvP transaction with a normal settlement period if the Board-regulated institution has delivered cash, securities, commodities, or currencies to its counterparty but has not received its corresponding deliverables by the end of the same business day. The Board-regulated institution must continue to hold risk-based capital against the transaction until the Board-regulated institution has received its corresponding deliverables. (2) From the business day after the Board-regulated institution has made its delivery until five business days after the counterparty delivery is due, the Board-regulated institution must calculate its risk-based capital requirement for the transaction by treating the current fair value of the deliverables owed to the Board-regulated institution as a wholesale exposure. (i) A Board-regulated institution may use a 45 percent LGD for the transaction rather than estimating LGD for the transaction provided the Board-regulated institution uses the 45 percent LGD for all transactions described in paragraphs (e)(1) and (2) of this section. (ii) A Board-regulated institution may use a 100 percent risk weight for the transaction provided the Board-regulated institution uses this risk weight for all transactions described in paragraphs (e)(1) and (2) of this section. (3) If the Board-regulated institution has not received its deliverables by the fifth business day after the counterparty delivery was due, the Board-regulated institution must apply a 1,250 percent risk weight to the current fair value of the deliverables owed to the Board- regulated institution. (f) Total risk-weighted assets for unsettled transactions. Total risk-weighted assets for unsettled transactions is the sum of the risk- weighted asset amounts of all DvP, PvP, and non-DvP/non-PvP transactions. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 80 FR 41421, July 15, 2015] Sec. Sec. 217.137-217.140 [Reserved] Risk-Weighted Assets for Securitization Exposures Sec. 217.141 Operational criteria for recognizing the transfer of risk. (a) Operational criteria for traditional securitizations. A Board- regulated institution that transfers exposures it has originated or purchased to a securitization SPE or other third party in connection with a traditional securitization may exclude the exposures from the calculation of its risk-weighted assets only if each of the conditions in this paragraph (a) is satisfied. A Board-regulated institution that meets these conditions must hold risk-based capital against any securitization exposures it retains in connection with the securitization. A Board-regulated institution that fails to meet these conditions must hold risk-based capital against the transferred exposures as if they had not been securitized and must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from the transaction. The conditions are: (1) The exposures are not reported on the Board-regulated institution's consolidated balance sheet under GAAP; (2) The Board-regulated institution has transferred to one or more third [[Page 566]] parties credit risk associated with the underlying exposures; (3) Any clean-up calls relating to the securitization are eligible clean-up calls; and (4) The securitization does not: (i) Include one or more underlying exposures in which the borrower is permitted to vary the drawn amount within an agreed limit under a line of credit; and (ii) Contain an early amortization provision. (b) Operational criteria for synthetic securitizations. For synthetic securitizations, a Board-regulated institution may recognize for risk-based capital purposes under this subpart the use of a credit risk mitigant to hedge underlying exposures only if each of the conditions in this paragraph (b) is satisfied. A Board-regulated institution that meets these conditions must hold risk-based capital against any credit risk of the exposures it retains in connection with the synthetic securitization. A Board-regulated institution that fails to meet these conditions or chooses not to recognize the credit risk mitigant for purposes of this section must hold risk-based capital under this subpart against the underlying exposures as if they had not been synthetically securitized. The conditions are: (1) The credit risk mitigant is: (i) Financial collateral; or (ii) A guarantee that meets all of the requirements of an eligible guarantee in Sec. 217.2 except for paragraph (3) of the definition; or (iii) A credit derivative that meets all of the requirements of an eligible credit derivative except for paragraph (3) of the definition of eligible guarantee in Sec. 217.2. (2) The Board-regulated institution transfers credit risk associated with the underlying exposures to third parties, and the terms and conditions in the credit risk mitigants employed do not include provisions that: (i) Allow for the termination of the credit protection due to deterioration in the credit quality of the underlying exposures; (ii) Require the Board-regulated institution to alter or replace the underlying exposures to improve the credit quality of the underlying exposures; (iii) Increase the Board-regulated institution's cost of credit protection in response to deterioration in the credit quality of the underlying exposures; (iv) Increase the yield payable to parties other than the Board- regulated institution in response to a deterioration in the credit quality of the underlying exposures; or (v) Provide for increases in a retained first loss position or credit enhancement provided by the Board-regulated institution after the inception of the securitization; (3) The Board-regulated institution obtains a well-reasoned opinion from legal counsel that confirms the enforceability of the credit risk mitigant in all relevant jurisdictions; and (4) Any clean-up calls relating to the securitization are eligible clean-up calls. (c) Due diligence requirements for securitization exposures. (1) Except for exposures that are deducted from common equity tier 1 capital and exposures subject to Sec. 217.142(k), if a Board-regulated institution is unable to demonstrate to the satisfaction of the Board a comprehensive understanding of the features of a securitization exposure that would materially affect the performance of the exposure, the Board- regulated institution must assign a 1,250 percent risk weight to the securitization exposure. The Board-regulated institution's analysis must be commensurate with the complexity of the securitization exposure and the materiality of the position in relation to regulatory capital according to this part. (2) A Board-regulated institution must demonstrate its comprehensive understanding of a securitization exposure under paragraph (c)(1) of this section, for each securitization exposure by: (i) Conducting an analysis of the risk characteristics of a securitization exposure prior to acquiring the exposure and document such analysis within three business days after acquiring the exposure, considering: (A) Structural features of the securitization that would materially [[Page 567]] impact the performance of the exposure, for example, the contractual cash flow waterfall, waterfall-related triggers, credit enhancements, liquidity enhancements, fair value triggers, the performance of organizations that service the position, and deal-specific definitions of default; (B) Relevant information regarding the performance of the underlying credit exposure(s), for example, the percentage of loans 30, 60, and 90 days past due; default rates; prepayment rates; loans in foreclosure; property types; occupancy; average credit score or other measures of creditworthiness; average loan-to-value ratio; and industry and geographic diversification data on the underlying exposure(s); (C) Relevant market data of the securitization, for example, bid-ask spreads, most recent sales price and historical price volatility, trading volume, implied market rating, and size, depth and concentration level of the market for the securitization; and (D) For resecuritization exposures, performance information on the underlying securitization exposures, for example, the issuer name and credit quality, and the characteristics and performance of the exposures underlying the securitization exposures; and (ii) On an on-going basis (no less frequently than quarterly), evaluating, reviewing, and updating as appropriate the analysis required under this section for each securitization exposure. Sec. 217.142 Risk-based capital requirement for securitization exposures. (a) Hierarchy of approaches. Except as provided elsewhere in this section and in Sec. 217.141: (1) A Board-regulated institution must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from a securitization and must apply a 1,250 percent risk weight to the portion of any CEIO that does not constitute after tax gain-on-sale; (2) If a securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (a)(1) of this section, the Board-regulated institution must apply the supervisory formula approach in Sec. 217.143 to the exposure if the Board-regulated institution and the exposure qualify for the supervisory formula approach according to Sec. 217.143(a); (3) If a securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (a)(1) of this section and does not qualify for the supervisory formula approach, the Board- regulated institution may apply the simplified supervisory formula approach under Sec. 217.144; (4) If a securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (a)(1) of this section, does not qualify for the supervisory formula approach in Sec. 217.143, and the Board-regulated institution does not apply the simplified supervisory formula approach in Sec. 217.144, the Board-regulated institution must apply a 1,250 percent risk weight to the exposure; and (5) If a securitization exposure is a derivative contract (other than protection provided by a Board-regulated institution in the form of a credit derivative) that has a first priority claim on the cash flows from the underlying exposures (notwithstanding amounts due under interest rate or currency derivative contracts, fees due, or other similar payments), a Board-regulated institution may choose to set the risk-weighted asset amount of the exposure equal to the amount of the exposure as determined in paragraph (e) of this section rather than apply the hierarchy of approaches described in paragraphs (a)(1) through (4) of this section. (b) Total risk-weighted assets for securitization exposures. A Board-regulated institution's total risk-weighted assets for securitization exposures is equal to the sum of its risk-weighted assets calculated using Sec. Sec. 217.141 through 146. (c) Deductions. A Board-regulated institution may calculate any deduction from common equity tier 1 capital for a securitization exposure net of any DTLs associated with the securitization exposure. (d) Maximum risk-based capital requirement. Except as provided in Sec. 217.141(c), unless one or more underlying exposures does not meet the definition of a wholesale, retail, securitization, or equity exposure, the total risk-based capital requirement for all securitization [[Page 568]] exposures held by a single Board-regulated institution associated with a single securitization (excluding any risk-based capital requirements that relate to the Board-regulated institution's gain-on-sale or CEIOs associated with the securitization) may not exceed the sum of: (1) The Board-regulated institution's total risk-based capital requirement for the underlying exposures calculated under this subpart as if the Board-regulated institution directly held the underlying exposures; and (2) The total ECL of the underlying exposures calculated under this subpart. (e) Exposure amount of a securitization exposure. (1) The exposure amount of an on-balance sheet securitization exposure that is not a repo-style transaction, eligible margin loan, OTC derivative contract, or cleared transaction is the Board-regulated institution's carrying value. (2) Except as provided in paragraph (m) of this section, the exposure amount of an off-balance sheet securitization exposure that is not an OTC derivative contract (other than a credit derivative), repo- style transaction, eligible margin loan, or cleared transaction (other than a credit derivative) is the notional amount of the exposure. For an off-balance-sheet securitization exposure to an ABCP program, such as an eligible ABCP liquidity facility, the notional amount may be reduced to the maximum potential amount that the Board-regulated institution could be required to fund given the ABCP program's current underlying assets (calculated without regard to the current credit quality of those assets). (3) The exposure amount of a securitization exposure that is a repo- style transaction, eligible margin loan, or OTC derivative contract (other than a credit derivative) or cleared transaction (other than a credit derivative) is the EAD of the exposure as calculated in Sec. 217.132 or Sec. 217.133. (f) Overlapping exposures. If a Board-regulated institution has multiple securitization exposures that provide duplicative coverage of the underlying exposures of a securitization (such as when a Board- regulated institution provides a program-wide credit enhancement and multiple pool-specific liquidity facilities to an ABCP program), the Board-regulated institution is not required to hold duplicative risk- based capital against the overlapping position. Instead, the Board- regulated institution may assign to the overlapping securitization exposure the applicable risk-based capital treatment under this subpart that results in the highest risk-based capital requirement. (g) Securitizations of non-IRB exposures. Except as provided in Sec. 217.141(c), if a Board-regulated institution has a securitization exposure where any underlying exposure is not a wholesale exposure, retail exposure, securitization exposure, or equity exposure, the Board- regulated institution: (1) Must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from the securitization and apply a 1,250 percent risk weight to the portion of any CEIO that does not constitute gain-on- sale, if the Board-regulated institution is an originating Board- regulated institution; (2) May apply the simplified supervisory formula approach in Sec. 217.144 to the exposure, if the securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (g)(1) of this section; (3) Must assign a 1,250 percent risk weight to the exposure if the securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (g)(1) of this section, does not qualify for the supervisory formula approach in Sec. 217.143, and the Board- regulated institution does not apply the simplified supervisory formula approach in Sec. 217.144 to the exposure. (h) Implicit support. If a Board-regulated institution provides support to a securitization in excess of the Board-regulated institution's contractual obligation to provide credit support to the securitization (implicit support): (1) The Board-regulated institution must calculate a risk-weighted asset amount for underlying exposures associated with the securitization as if the exposures had not been securitized and must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from the securitization; and [[Page 569]] (2) The Board-regulated institution must disclose publicly: (i) That it has provided implicit support to the securitization; and (ii) The regulatory capital impact to the Board-regulated institution of providing such implicit support. (i) Undrawn portion of a servicer cash advance facility. (1) Notwithstanding any other provision of this subpart, a Board-regulated institution that is a servicer under an eligible servicer cash advance facility is not required to hold risk-based capital against potential future cash advance payments that it may be required to provide under the contract governing the facility. (2) For a Board-regulated institution that acts as a servicer, the exposure amount for a servicer cash advance facility that is not an eligible servicer cash advance facility is equal to the amount of all potential future cash advance payments that the Board-regulated institution may be contractually required to provide during the subsequent 12 month period under the contract governing the facility. (j) Interest-only mortgage-backed securities. Regardless of any other provisions in this part, the risk weight for a non-credit- enhancing interest-only mortgage-backed security may not be less than 100 percent. (k) Small-business loans and leases on personal property transferred with recourse. (1) Notwithstanding any other provisions of this subpart E, a Board-regulated institution that has transferred small-business loans and leases on personal property (small-business obligations) with recourse must include in risk-weighted assets only the contractual amount of retained recourse if all the following conditions are met: (i) The transaction is a sale under GAAP. (ii) The Board-regulated institution establishes and maintains, pursuant to GAAP, a non-capital reserve sufficient to meet the Board- regulated institution's reasonably estimated liability under the recourse arrangement. (iii) The loans and leases are to businesses that meet the criteria for a small-business concern established by the Small Business Administration under section 3(a) of the Small Business Act (15 U.S.C. 632 et seq.); and (iv)(A) In the case of a state member bank, the bank is well capitalized, as defined in section 208.43 of this chapter. For purposes of determining whether a state member bank is well capitalized for purposes of this paragraph, the state member bank's capital ratios must be calculated without regard to the capital treatment for transfers of small-business obligations with recourse specified in this paragraph (k)(1). (B) In the case of a bank holding company or savings and loan holding company, the bank holding company or savings and loan holding company is well capitalized, as defined in 12 CFR 225.2. For purposes of determining whether a bank holding company or savings and loan holding company is well capitalized for purposes of this paragraph, the bank holding company or savings and loan holding company's capital ratios must be calculated without regard to the capital treatment for transfers of small-business obligations with recourse specified in this paragraph (k)(1). (2) The total outstanding amount of recourse retained by a Board- regulated institution on transfers of small-business obligations subject to paragraph (k)(1) of this section cannot exceed 15 percent of the Board-regulated institution's total capital. (3) If a Board-regulated institution ceases to be well capitalized or exceeds the 15 percent capital limitation in paragraph (k)(2) of this section, the preferential capital treatment specified in paragraph (k)(1) of this section will continue to apply to any transfers of small- business obligations with recourse that occurred during the time that the Board-regulated institution was well capitalized and did not exceed the capital limit. (4) The risk-based capital ratios of a Board-regulated institution must be calculated without regard to the capital treatment for transfers of small-business obligations with recourse specified in paragraph (k)(1) of this section. (l) Nth-to-default credit derivatives--(1) Protection provider. A Board-regulated institution must determine a risk [[Page 570]] weight using the supervisory formula approach (SFA) pursuant to Sec. 217.143 or the simplified supervisory formula approach (SSFA) pursuant to Sec. 217.144 for an nth-to-default credit derivative in accordance with this paragraph (l). In the case of credit protection sold, a Board- regulated institution must determine its exposure in the n\th\-to- default credit derivative as the largest notional amount of all the underlying exposures. (2) For purposes of determining the risk weight for an n\th\-to- default credit derivative using the SFA or the SSFA, the Board-regulated institution must calculate the attachment point and detachment point of its exposure as follows: (i) The attachment point (parameter A) is the ratio of the sum of the notional amounts of all underlying exposures that are subordinated to the Board-regulated institution's exposure to the total notional amount of all underlying exposures. For purposes of the SSFA, parameter A is expressed as a decimal value between zero and one. For purposes of using the SFA to calculate the risk weight for its exposure in an n\th\- to-default credit derivative, parameter A must be set equal to the credit enhancement level (L) input to the SFA formula. In the case of a first-to-default credit derivative, there are no underlying exposures that are subordinated to the Board-regulated institution's exposure. In the case of a second-or-subsequent-to-default credit derivative, the smallest (n-1) risk-weighted asset amounts of the underlying exposure(s) are subordinated to the Board-regulated institution's exposure. (ii) The detachment point (parameter D) equals the sum of parameter A plus the ratio of the notional amount of the Board-regulated institution's exposure in the n\th\-to-default credit derivative to the total notional amount of all underlying exposures. For purposes of the SSFA, parameter W is expressed as a decimal value between zero and one. For purposes of the SFA, parameter D must be set to equal L plus the thickness of tranche T input to the SFA formula. (3) A Board-regulated institution that does not use the SFA or the SSFA to determine a risk weight for its exposure in an n\th\-to-default credit derivative must assign a risk weight of 1,250 percent to the exposure. (4) Protection purchaser--(i) First-to-default credit derivatives. A Board-regulated institution that obtains credit protection on a group of underlying exposures through a first-to-default credit derivative that meets the rules of recognition of Sec. 217.134(b) must determine its risk-based capital requirement under this subpart for the underlying exposures as if the Board-regulated institution synthetically securitized the underlying exposure with the lowest risk-based capital requirement and had obtained no credit risk mitigant on the other underlying exposures. A Board-regulated institution must calculate a risk-based capital requirement for counterparty credit risk according to Sec. 217.132 for a first-to-default credit derivative that does not meet the rules of recognition of Sec. 217.134(b). (ii) Second-or-subsequent-to-default credit derivatives. (A) A Board-regulated institution that obtains credit protection on a group of underlying exposures through a n\th\-to-default credit derivative that meets the rules of recognition of Sec. 217.134(b) (other than a first- to-default credit derivative) may recognize the credit risk mitigation benefits of the derivative only if: (1) The Board-regulated institution also has obtained credit protection on the same underlying exposures in the form of first- through-(n-1)-to-default credit derivatives; or (2) If n-1 of the underlying exposures have already defaulted. (B) If a Board-regulated institution satisfies the requirements of paragraph (l)(3)(ii)(A) of this section, the Board-regulated institution must determine its risk-based capital requirement for the underlying exposures as if the bank had only synthetically securitized the underlying exposure with the n\th\ smallest risk-based capital requirement and had obtained no credit risk mitigant on the other underlying exposures. (C) A Board-regulated institution must calculate a risk-based capital requirement for counterparty credit risk according to Sec. 217.132 for a n\th\-to-default credit derivative that does not [[Page 571]] meet the rules of recognition of Sec. 217.134(b). (m) Guarantees and credit derivatives other than nth-to-default credit derivatives--(1) Protection provider. For a guarantee or credit derivative (other than an n\th\-to-default credit derivative) provided by a Board-regulated institution that covers the full amount or a pro rata share of a securitization exposure's principal and interest, the Board-regulated institution must risk weight the guarantee or credit derivative as if it holds the portion of the reference exposure covered by the guarantee or credit derivative. (2) Protection purchaser. (i) A Board-regulated institution that purchases an OTC credit derivative (other than an n\th\-to-default credit derivative) that is recognized under Sec. 217.145 as a credit risk mitigant (including via recognized collateral) is not required to compute a separate counterparty credit risk capital requirement under Sec. 217.131 in accordance with Sec. 217.132(c)(3). (ii) If a Board-regulated institution cannot, or chooses not to, recognize a purchased credit derivative as a credit risk mitigant under Sec. 217.145, the Board-regulated institution must determine the exposure amount of the credit derivative under Sec. 217.132(c). (A) If the Board-regulated institution purchases credit protection from a counterparty that is not a securitization SPE, the Board- regulated institution must determine the risk weight for the exposure according Sec. 217.131. (B) If the Board-regulated institution purchases the credit protection from a counterparty that is a securitization SPE, the Board- regulated institution must determine the risk weight for the exposure according to this section, including paragraph (a)(5) of this section for a credit derivative that has a first priority claim on the cash flows from the underlying exposures of the securitization SPE (notwithstanding amounts due under interest rate or currency derivative contracts, fees due, or other similar payments. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013] Sec. 217.143 Supervisory formula approach (SFA). (a) Eligibility requirements. A Board-regulated institution must use the SFA to determine its risk-weighted asset amount for a securitization exposure if the Board-regulated institution can calculate on an ongoing basis each of the SFA parameters in paragraph (e) of this section. (b) Mechanics. The risk-weighted asset amount for a securitization exposure equals its SFA risk-based capital requirement as calculated under paragraph (c) and (d) of this section, multiplied by 12.5. (c) The SFA risk-based capital requirement. (1) If KIRB is greater than or equal to L + T, an exposure's SFA risk-based capital requirement equals the exposure amount. (2) If KIRB is less than or equal to L, an exposure's SFA risk-based capital requirement is UE multiplied by TP multiplied by the greater of: (i) F [middot] T (where F is 0.016 for all securitization exposures); or (ii) S[L + T]-S[L]. (3) If KIRB is greater than L and less than L + T, the Board-regulated institution must apply a 1,250 percent risk weight to an amount equal to UE [middot] TP (KIRB-L), and the exposure's SFA risk-based capital requirement is UE multiplied by TP multiplied by the greater of: (i) F [middot] (T-(KIRB-L)) (where F is 0.016 for all other securitization exposures); or (ii) S[L + T]-S[KIRB]. (d) The supervisory formula: [[Page 572]] [GRAPHIC] [TIFF OMITTED] TR11OC13.049 (e) SFA parameters. For purposes of the calculations in paragraphs (c) and (d) of this section: (1) Amount of the underlying exposures (UE). UE is the EAD of any underlying exposures that are wholesale and retail exposures (including the amount of any funded spread accounts, cash collateral accounts, and other similar funded credit enhancements) plus the amount of any underlying exposures that are securitization exposures (as defined in Sec. 217.142(e)) plus the adjusted carrying value of any underlying exposures that are equity exposures (as defined in Sec. 217.151(b)). (2) Tranche percentage (TP). TP is the ratio of the amount of the Board-regulated institution's securitization exposure to the amount of the tranche that contains the securitization exposure. (3) Capital requirement on underlying exposures (KIRB). (i) KIRB is the ratio of: (A) The sum of the risk-based capital requirements for the underlying exposures plus the expected credit losses of the underlying exposures (as determined under this subpart E as if the [[Page 573]] underlying exposures were directly held by the Board-regulated institution); to (B) UE. (ii) The calculation of KIRB must reflect the effects of any credit risk mitigant applied to the underlying exposures (either to an individual underlying exposure, to a group of underlying exposures, or to all of the underlying exposures). (iii) All assets related to the securitization are treated as underlying exposures, including assets in a reserve account (such as a cash collateral account). (4) Credit enhancement level (L). (i) L is the ratio of: (A) The amount of all securitization exposures subordinated to the tranche that contains the Board-regulated institution's securitization exposure; to (B) UE. (ii) A Board-regulated institution must determine L before considering the effects of any tranche-specific credit enhancements. (iii) Any gain-on-sale or CEIO associated with the securitization may not be included in L. (iv) Any reserve account funded by accumulated cash flows from the underlying exposures that is subordinated to the tranche that contains the Board-regulated institution's securitization exposure may be included in the numerator and denominator of L to the extent cash has accumulated in the account. Unfunded reserve accounts (that is, reserve accounts that are to be funded from future cash flows from the underlying exposures) may not be included in the calculation of L. (v) In some cases, the purchase price of receivables will reflect a discount that provides credit enhancement (for example, first loss protection) for all or certain tranches of the securitization. When this arises, L should be calculated inclusive of this discount if the discount provides credit enhancement for the securitization exposure. (5) Thickness of tranche (T). T is the ratio of: (i) The amount of the tranche that contains the Board-regulated institution's securitization exposure; to (ii) UE. (6) Effective number of exposures (N). (i) Unless the Board- regulated institution elects to use the formula provided in paragraph (f) of this section, [GRAPHIC] [TIFF OMITTED] TR11OC13.050 where EADi represents the EAD associated with the ith instrument in the underlying exposures. (ii) Multiple exposures to one obligor /must be treated as a single underlying exposure. (iii) In the case of a resecuritization, the Board-regulated institution must treat each underlying exposure as a single underlying exposure and must not look through to the originally securitized underlying exposures. (7) Exposure-weighted average loss given default (EWALGD). EWALGD is calculated as: [GRAPHIC] [TIFF OMITTED] TR11OC13.051 [[Page 574]] where LGDi represents the average LGD associated with all exposures to the ith obligor. In the case of a resecuritization, an LGD of 100 percent must be assumed for the underlying exposures that are themselves securitization exposures. (f) Simplified method for computing N and EWALGD. (1) If all underlying exposures of a securitization are retail exposures, a Board- regulated institution may apply the SFA using the following simplifications: (i) h = 0; and (ii) v = 0. (2) Under the conditions in Sec. Sec. 217.143(f)(3) and (f)(4), a Board-regulated institution may employ a simplified method for calculating N and EWALGD. (3) If C1 is no more than 0.03, a Board-regulated institution may set EWALGD = 0.50 if none of the underlying exposures is a securitization exposure, or may set EWALGD = 1 if one or more of the underlying exposures is a securitization exposure, and may set N equal to the following amount: [GRAPHIC] [TIFF OMITTED] TR11OC13.052 where: (i) Cm is the ratio of the sum of the amounts of the `m' largest underlying exposures to UE; and (ii) The level of m is to be selected by the Board-regulated institution. (4) Alternatively, if only C1 is available and C1 is no more than 0.03, the Board-regulated institution may set EWALGD = 0.50 if none of the underlying exposures is a securitization exposure, or may set EWALGD = 1 if one or more of the underlying exposures is a securitization exposure and may set N = 1/ C1. Sec. 217.144 Simplified supervisory formula approach (SSFA). (a) General requirements for the SSFA. To use the SSFA to determine the risk weight for a securitization exposure, a Board-regulated institution must have data that enables it to assign accurately the parameters described in paragraph (b) of this section. Data used to assign the parameters described in paragraph (b) of this section must be the most currently available data; if the contracts governing the underlying exposures of the securitization require payments on a monthly or quarterly basis, the data used to assign the parameters described in paragraph (b) of this section must be no more than 91 calendar days old. A Board-regulated institution that does not have the appropriate data to assign the parameters described in paragraph (b) of this section must assign a risk weight of 1,250 percent to the exposure. (b) SSFA parameters. To calculate the risk weight for a securitization exposure using the SSFA, a Board-regulated institution must have accurate information on the following five inputs to the SSFA calculation: (1) KG is the weighted-average (with unpaid principal used as the weight for each exposure) total capital requirement of the underlying exposures calculated using subpart D of this part. KG is expressed as a decimal value between zero and one (that is, an average risk weight of 100 percent represents a value of KG equal to 0.08). (2) Parameter W is expressed as a decimal value between zero and one. Parameter W is the ratio of the sum of the dollar amounts of any underlying exposures of the securitization that meet any of the criteria as set forth in paragraphs (b)(2)(i) through (vi) of this section to the balance, measured in dollars, of underlying exposures: (i) Ninety days or more past due; (ii) Subject to a bankruptcy or insolvency proceeding; (iii) In the process of foreclosure; (iv) Held as real estate owned; (v) Has contractually deferred payments for 90 days or more, other than [[Page 575]] principal or interest payments deferred on: (A) Federally-guaranteed student loans, in accordance with the terms of those guarantee programs; or (B) Consumer loans, including non-federally-guaranteed student loans, provided that such payments are deferred pursuant to provisions included in the contract at the time funds are disbursed that provide for period(s) of deferral that are not initiated based on changes in the creditworthiness of the borrower; or (vi) Is in default. (3) Parameter A is the attachment point for the exposure, which represents the threshold at which credit losses will first be allocated to the exposure. Except as provided in section 142(l) for n\th\-to- default credit derivatives, parameter A equals the ratio of the current dollar amount of underlying exposures that are subordinated to the exposure of the Board-regulated institution to the current dollar amount of underlying exposures. Any reserve account funded by the accumulated cash flows from the underlying exposures that is subordinated to the Board-regulated institution's securitization exposure may be included in the calculation of parameter A to the extent that cash is present in the account. Parameter A is expressed as a decimal value between zero and one. (4) Parameter D is the detachment point for the exposure, which represents the threshold at which credit losses of principal allocated to the exposure would result in a total loss of principal. Except as provided in section 142(l) for n\th\-to-default credit derivatives, parameter D equals parameter A plus the ratio of the current dollar amount of the securitization exposures that are pari passu with the exposure (that is, have equal seniority with respect to credit risk) to the current dollar amount of the underlying exposures. Parameter D is expressed as a decimal value between zero and one. (5) A supervisory calibration parameter, p, is equal to 0.5 for securitization exposures that are not resecuritization exposures and equal to 1.5 for resecuritization exposures. (c) Mechanics of the SSFA. KG and W are used to calculate KA, the augmented value of KG, which reflects the observed credit quality of the underlying exposures. KA is defined in paragraph (d) of this section. The values of parameters A and D, relative to KA determine the risk weight assigned to a securitization exposure as described in paragraph (d) of this section. The risk weight assigned to a securitization exposure, or portion of a securitization exposure, as appropriate, is the larger of the risk weight determined in accordance with this paragraph (c), paragraph (d) of this section, and a risk weight of 20 percent. (1) When the detachment point, parameter D, for a securitization exposure is less than or equal to KA, the exposure must be assigned a risk weight of 1,250 percent; (2) When the attachment point, parameter A, for a securitization exposure is greater than or equal to KA, the Board-regulated institution must calculate the risk weight in accordance with paragraph (d) of this section; (3) When A is less than KA and D is greater than KA, the risk weight is a weighted-average of 1,250 percent and 1,250 percent times KSSFA calculated in accordance with paragraph (d) of this section. For the purpose of this weighted-average calculation: [[Page 576]] [GRAPHIC] [TIFF OMITTED] TR11OC13.053 Sec. 217.145 Recognition of credit risk mitigants for securitization exposures. (a) General. An originating Board-regulated institution that has obtained a credit risk mitigant to hedge its securitization exposure to a synthetic or traditional securitization that satisfies the operational criteria in Sec. 217.141 may recognize the credit risk mitigant, but only as provided in this section. An investing Board-regulated institution that has obtained a credit risk mitigant to hedge a securitization exposure may recognize the credit risk mitigant, but only as provided in this section. (b) Collateral--(1) Rules of recognition. A Board-regulated institution may recognize financial collateral in determining the Board- regulated institution's risk-weighted asset amount for a securitization exposure (other than a repo-style transaction, an eligible margin loan, or an OTC derivative contract for which the Board-regulated institution has reflected collateral in its determination of exposure amount under Sec. 217.132) as follows. The Board-regulated institution's risk- weighted asset [[Page 577]] amount for the collateralized securitization exposure is equal to the risk-weighted asset amount for the securitization exposure as calculated under the SSFA in Sec. 217.144 or under the SFA in Sec. 217.143 multiplied by the ratio of adjusted exposure amount (SE*) to original exposure amount (SE), Where: (i) SE* = max {0, [SE-C x (1-Hs-Hfx)]{time} ; (ii) SE = the amount of the securitization exposure calculated under Sec. 217.142(e); (iii) C = the current fair value of the collateral; (iv) Hs = the haircut appropriate to the collateral type; and (v) Hfx = the haircut appropriate for any currency mismatch between the collateral and the exposure. [GRAPHIC] [TIFF OMITTED] TR11OC13.054 (3) Standard supervisory haircuts. Unless a Board-regulated institution qualifies for use of and uses own-estimates haircuts in paragraph (b)(4) of this section: (i) A Board-regulated institution must use the collateral type haircuts (Hs) in Table 1 to Sec. 217.132 of this subpart; (ii) A Board-regulated institution must use a currency mismatch haircut (Hfx) of 8 percent if the exposure and the collateral are denominated in different currencies; (iii) A Board-regulated institution must multiply the supervisory haircuts obtained in paragraphs (b)(3)(i) and (ii) of this section by the square root of 6.5 (which equals 2.549510); and (iv) A Board-regulated institution must adjust the supervisory haircuts upward on the basis of a holding period longer than 65 business days where and as appropriate to take into account the illiquidity of the collateral. (4) Own estimates for haircuts. With the prior written approval of the Board, a Board-regulated institution may calculate haircuts using its own internal estimates of market price volatility and foreign exchange volatility, subject to Sec. 217.132(b)(2)(iii). The minimum holding period (TM) for securitization exposures is 65 business days. (c) Guarantees and credit derivatives--(1) Limitations on recognition. A Board-regulated institution may only recognize an eligible guarantee or eligible credit derivative provided by an eligible guarantor in determining the Board-regulated institution's risk-weighted asset amount for a securitization exposure. (2) ECL for securitization exposures. When a Board-regulated institution recognizes an eligible guarantee or eligible credit derivative provided by an eligible guarantor in determining the Board- regulated institution's risk-weighted asset amount for a securitization exposure, the Board-regulated institution must also: (i) Calculate ECL for the protected portion of the exposure using the same risk parameters that it uses for calculating the risk-weighted asset amount of the exposure as described in paragraph (c)(3) of this section; and (ii) Add the exposure's ECL to the Board-regulated institution's total ECL. (3) Rules of recognition. A Board-regulated institution may recognize an eligible guarantee or eligible credit derivative provided by an eligible guarantor [[Page 578]] in determining the Board-regulated institution's risk-weighted asset amount for the securitization exposure as follows: (i) Full coverage. If the protection amount of the eligible guarantee or eligible credit derivative equals or exceeds the amount of the securitization exposure, the Board-regulated institution may set the risk-weighted asset amount for the securitization exposure equal to the risk-weighted asset amount for a direct exposure to the eligible guarantor (as determined in the wholesale risk weight function described in Sec. 217.131), using the Board-regulated institution's PD for the guarantor, the Board-regulated institution's LGD for the guarantee or credit derivative, and an EAD equal to the amount of the securitization exposure (as determined in Sec. 217.142(e)). (ii) Partial coverage. If the protection amount of the eligible guarantee or eligible credit derivative is less than the amount of the securitization exposure, the Board-regulated institution may set the risk-weighted asset amount for the securitization exposure equal to the sum of: (A) Covered portion. The risk-weighted asset amount for a direct exposure to the eligible guarantor (as determined in the wholesale risk weight function described in Sec. 217.131), using the Board-regulated institution's PD for the guarantor, the Board-regulated institution's LGD for the guarantee or credit derivative, and an EAD equal to the protection amount of the credit risk mitigant; and (B) Uncovered portion. (1) 1.0 minus the ratio of the protection amount of the eligible guarantee or eligible credit derivative to the amount of the securitization exposure); multiplied by (2) The risk-weighted asset amount for the securitization exposure without the credit risk mitigant (as determined in Sec. Sec. 217.142 through 146). (4) Mismatches. The Board-regulated institution must make applicable adjustments to the protection amount as required in Sec. 217.134(d), (e), and (f) for any hedged securitization exposure and any more senior securitization exposure that benefits from the hedge. In the context of a synthetic securitization, when an eligible guarantee or eligible credit derivative covers multiple hedged exposures that have different residual maturities, the Board-regulated institution must use the longest residual maturity of any of the hedged exposures as the residual maturity of all the hedged exposures. Sec. Sec. 217.146-217.150 [Reserved] Risk-Weighted Assets for Equity Exposures Sec. 217.151 Introduction and exposure measurement. (a) General. (1) To calculate its risk-weighted asset amounts for equity exposures that are not equity exposures to investment funds, a Board-regulated institution may apply either the Simple Risk Weight Approach (SRWA) in Sec. 217.152 or, if it qualifies to do so, the Internal Models Approach (IMA) in Sec. 217.153. A Board-regulated institution must use the look-through approaches provided in Sec. 217.154 to calculate its risk-weighted asset amounts for equity exposures to investment funds. (2) A Board-regulated institution must treat an investment in a separate account (as defined in Sec. 217.2), as if it were an equity exposure to an investment fund as provided in Sec. 217.154. (3) Stable value protection. (i) Stable value protection means a contract where the provider of the contract is obligated to pay: (A) The policy owner of a separate account an amount equal to the shortfall between the fair value and cost basis of the separate account when the policy owner of the separate account surrenders the policy, or (B) The beneficiary of the contract an amount equal to the shortfall between the fair value and book value of a specified portfolio of assets. (ii) A Board-regulated institution that purchases stable value protection on its investment in a separate account must treat the portion of the carrying value of its investment in the separate account attributable to the stable value protection as an exposure to the provider of the protection and the remaining portion of the carrying value of its separate account as an equity exposure to an investment fund. (iii) A Board-regulated institution that provides stable value protection [[Page 579]] must treat the exposure as an equity derivative with an adjusted carrying value determined as the sum of Sec. 217.151(b)(1) and (2). (b) Adjusted carrying value. For purposes of this subpart, the adjusted carrying value of an equity exposure is: (1) For the on-balance sheet component of an equity exposure, the Board-regulated institution's carrying value of the exposure; (2) For the off-balance sheet component of an equity exposure, the effective notional principal amount of the exposure, the size of which is equivalent to a hypothetical on-balance sheet position in the underlying equity instrument that would evidence the same change in fair value (measured in dollars) for a given small change in the price of the underlying equity instrument, minus the adjusted carrying value of the on-balance sheet component of the exposure as calculated in paragraph (b)(1) of this section. (3) For unfunded equity commitments that are unconditional, the effective notional principal amount is the notional amount of the commitment. For unfunded equity commitments that are conditional, the effective notional principal amount is the Board-regulated institution's best estimate of the amount that would be funded under economic downturn conditions. Sec. 217.152 Simple risk weight approach (SRWA). (a) General. Under the SRWA, a Board-regulated institution's aggregate risk-weighted asset amount for its equity exposures is equal to the sum of the risk-weighted asset amounts for each of the Board- regulated institution's individual equity exposures (other than equity exposures to an investment fund) as determined in this section and the risk-weighted asset amounts for each of the Board-regulated institution's individual equity exposures to an investment fund as determined in Sec. 217.154. (b) SRWA computation for individual equity exposures. A Board- regulated institution must determine the risk-weighted asset amount for an individual equity exposure (other than an equity exposure to an investment fund) by multiplying the adjusted carrying value of the equity exposure or the effective portion and ineffective portion of a hedge pair (as defined in paragraph (c) of this section) by the lowest applicable risk weight in this section. (1) Zero percent risk weight equity exposures. An equity exposure to an entity whose credit exposures are exempt from the 0.03 percent PD floor in Sec. 217.131(d)(2) is assigned a zero percent risk weight. (2) 20 percent risk weight equity exposures. An equity exposure to a Federal Home Loan Bank or the Federal Agricultural Mortgage Corporation (Farmer Mac) is assigned a 20 percent risk weight. (3) 100 percent risk weight equity exposures. The following equity exposures are assigned a 100 percent risk weight: (i) Community development equity exposures. (A) For state member banks and bank holding companies, an equity exposure that qualifies as a community development investment under 12 U.S.C. 24 (Eleventh), excluding equity exposures to an unconsolidated small business investment company and equity exposures held through a consolidated small business investment company described in section 302 of the Small Business Investment Act of 1958 (15 U.S.C. 682). (B) For savings and loan holding companies, an equity exposure that is designed primarily to promote community welfare, including the welfare of low- and moderate-income communities or families, such as by providing services or employment, and excluding equity exposures to an unconsolidated small business investment company and equity exposures held through a small business investment company described in section 302 of the Small Business Investment Act of 1958 (15 U.S.C. 682). (ii) Effective portion of hedge pairs. The effective portion of a hedge pair. (iii) Non-significant equity exposures. Equity exposures, excluding significant investments in the capital of an unconsolidated institution in the form of common stock and exposures to an investment firm that would meet the definition of a traditional securitization were it not for the Board's application of paragraph (8) of that definition in [[Page 580]] Sec. 217.2 and has greater than immaterial leverage, to the extent that the aggregate adjusted carrying value of the exposures does not exceed 10 percent of the Board-regulated institution's total capital. (A) To compute the aggregate adjusted carrying value of a Board- regulated institution's equity exposures for purposes of this section, the Board-regulated institution may exclude equity exposures described in paragraphs (b)(1), (b)(2), (b)(3)(i), and (b)(3)(ii) of this section, the equity exposure in a hedge pair with the smaller adjusted carrying value, and a proportion of each equity exposure to an investment fund equal to the proportion of the assets of the investment fund that are not equity exposures or that meet the criterion of paragraph (b)(3)(i) of this section. If a Board-regulated institution does not know the actual holdings of the investment fund, the Board-regulated institution may calculate the proportion of the assets of the fund that are not equity exposures based on the terms of the prospectus, partnership agreement, or similar contract that defines the fund's permissible investments. If the sum of the investment limits for all exposure classes within the fund exceeds 100 percent, the Board-regulated institution must assume for purposes of this section that the investment fund invests to the maximum extent possible in equity exposures. (B) When determining which of a Board-regulated institution's equity exposures qualifies for a 100 percent risk weight under this section, a Board-regulated institution first must include equity exposures to unconsolidated small business investment companies or held through consolidated small business investment companies described in section 302 of the Small Business Investment Act, then must include publicly traded equity exposures (including those held indirectly through investment funds), and then must include non-publicly traded equity exposures (including those held indirectly through investment funds). (4) 250 percent risk weight equity exposures. Significant investments in the capital of unconsolidated financial institutions in the form of common stock that are not deducted from capital pursuant to Sec. 217.22(b)(4) are assigned a 250 percent risk weight. (5) 300 percent risk weight equity exposures. A publicly traded equity exposure (other than an equity exposure described in paragraph (b)(7) of this section and including the ineffective portion of a hedge pair) is assigned a 300 percent risk weight. (6) 400 percent risk weight equity exposures. An equity exposure (other than an equity exposure described in paragraph (b)(7) of this section) that is not publicly traded is assigned a 400 percent risk weight. (7) 600 percent risk weight equity exposures. An equity exposure to an investment firm that: (i) Would meet the definition of a traditional securitization were it not for the Board's application of paragraph (8) of that definition in Sec. 217.2; and (ii) Has greater than immaterial leverage is assigned a 600 percent risk weight. (c) Hedge transactions--(1) Hedge pair. A hedge pair is two equity exposures that form an effective hedge so long as each equity exposure is publicly traded or has a return that is primarily based on a publicly traded equity exposure. (2) Effective hedge. Two equity exposures form an effective hedge if the exposures either have the same remaining maturity or each has a remaining maturity of at least three months; the hedge relationship is formally documented in a prospective manner (that is, before the Board- regulated institution acquires at least one of the equity exposures); the documentation specifies the measure of effectiveness (E) the Board- regulated institution will use for the hedge relationship throughout the life of the transaction; and the hedge relationship has an E greater than or equal to 0.8. A Board-regulated institution must measure E at least quarterly and must use one of three alternative measures of E: (i) Under the dollar-offset method of measuring effectiveness, the Board-regulated institution must determine the ratio of value change (RVC). The RVC is the ratio of the cumulative sum of the periodic changes in value of one equity exposure to the cumulative sum of [[Page 581]] the periodic changes in the value of the other equity exposure. If RVC is positive, the hedge is not effective and E equals zero. If RVC is negative and greater than or equal to -1 (that is, between zero and -1), then E equals the absolute value of RVC. If RVC is negative and less than -1, then E equals 2 plus RVC. (ii) Under the variability-reduction method of measuring effectiveness: [GRAPHIC] [TIFF OMITTED] TR11OC13.055 (iii) Under the regression method of measuring effectiveness, E equals the coefficient of determination of a regression in which the change in value of one exposure in a hedge pair is the dependent variable and the change in value of the other exposure in a hedge pair is the independent variable. However, if the estimated regression coefficient is positive, then the value of E is zero. (3) The effective portion of a hedge pair is E multiplied by the greater of the adjusted carrying values of the equity exposures forming a hedge pair. (4) The ineffective portion of a hedge pair is (1-E) multiplied by the greater of the adjusted carrying values of the equity exposures forming a hedge pair. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013; 84 FR 35269, July 22, 2019] Sec. 217.153 Internal models approach (IMA). (a) General. A Board-regulated institution may calculate its risk- weighted asset amount for equity exposures using the IMA by modeling publicly traded and non-publicly traded equity exposures (in accordance with paragraph (c) of this section) or by modeling only publicly traded equity exposures (in accordance with paragraphs (c) and (d) of this section). (b) Qualifying criteria. To qualify to use the IMA to calculate risk-weighted assets for equity exposures, a Board-regulated institution must receive prior written approval from the Board. To receive such approval, the Board-regulated institution must demonstrate to the Board's satisfaction that the Board-regulated institution meets the following criteria: (1) The Board-regulated institution must have one or more models that: (i) Assess the potential decline in value of its modeled equity exposures; (ii) Are commensurate with the size, complexity, and composition of the Board-regulated institution's modeled equity exposures; and (iii) Adequately capture both general market risk and idiosyncratic risk. (2) The Board-regulated institution's model must produce an estimate of potential losses for its modeled equity exposures that is no less than the estimate of potential losses produced by a VaR methodology employing a 99th [[Page 582]] percentile one-tailed confidence interval of the distribution of quarterly returns for a benchmark portfolio of equity exposures comparable to the Board-regulated institution's modeled equity exposures using a long-term sample period. (3) The number of risk factors and exposures in the sample and the data period used for quantification in the Board-regulated institution's model and benchmarking exercise must be sufficient to provide confidence in the accuracy and robustness of the Board-regulated institution's estimates. (4) The Board-regulated institution's model and benchmarking process must incorporate data that are relevant in representing the risk profile of the Board-regulated institution's modeled equity exposures, and must include data from at least one equity market cycle containing adverse market movements relevant to the risk profile of the Board-regulated institution's modeled equity exposures. In addition, the Board-regulated institution's benchmarking exercise must be based on daily market prices for the benchmark portfolio. If the Board-regulated institution's model uses a scenario methodology, the Board-regulated institution must demonstrate that the model produces a conservative estimate of potential losses on the Board-regulated institution's modeled equity exposures over a relevant long-term market cycle. If the Board-regulated institution employs risk factor models, the Board-regulated institution must demonstrate through empirical analysis the appropriateness of the risk factors used. (5) The Board-regulated institution must be able to demonstrate, using theoretical arguments and empirical evidence, that any proxies used in the modeling process are comparable to the Board-regulated institution's modeled equity exposures and that the Board-regulated institution has made appropriate adjustments for differences. The Board- regulated institution must derive any proxies for its modeled equity exposures and benchmark portfolio using historical market data that are relevant to the Board-regulated institution's modeled equity exposures and benchmark portfolio (or, where not, must use appropriately adjusted data), and such proxies must be robust estimates of the risk of the Board-regulated institution's modeled equity exposures. (c) Risk-weighted assets calculation for a Board-regulated institution using the IMA for publicly traded and non-publicly traded equity exposures. If a Board-regulated institution models publicly traded and non-publicly traded equity exposures, the Board-regulated institution's aggregate risk-weighted asset amount for its equity exposures is equal to the sum of: (1) The risk-weighted asset amount of each equity exposure that qualifies for a 0 percent, 20 percent, or 100 percent risk weight under Sec. 217.152(b)(1) through (b)(3)(i) (as determined under Sec. 217.152) and each equity exposure to an investment fund (as determined under Sec. 217.154); and (2) The greater of: (i) The estimate of potential losses on the Board-regulated institution's equity exposures (other than equity exposures referenced in paragraph (c)(1) of this section) generated by the Board-regulated institution's internal equity exposure model multiplied by 12.5; or (ii) The sum of: (A) 200 percent multiplied by the aggregate adjusted carrying value of the Board-regulated institution's publicly traded equity exposures that do not belong to a hedge pair, do not qualify for a 0 percent, 20 percent, or 100 percent risk weight under Sec. 217.152(b)(1) through (b)(3)(i), and are not equity exposures to an investment fund; (B) 200 percent multiplied by the aggregate ineffective portion of all hedge pairs; and (C) 300 percent multiplied by the aggregate adjusted carrying value of the Board-regulated institution's equity exposures that are not publicly traded, do not qualify for a 0 percent, 20 percent, or 100 percent risk weight under Sec. 217.152(b)(1) through (b)(3)(i), and are not equity exposures to an investment fund. (d) Risk-weighted assets calculation for a Board-regulated institution using the IMA only for publicly traded equity exposures. If a Board-regulated institution [[Page 583]] models only publicly traded equity exposures, the Board-regulated institution's aggregate risk-weighted asset amount for its equity exposures is equal to the sum of: (1) The risk-weighted asset amount of each equity exposure that qualifies for a 0 percent, 20 percent, or 100 percent risk weight under Sec. Sec. 217.152(b)(1) through (b)(3)(i) (as determined under Sec. 217.152), each equity exposure that qualifies for a 400 percent risk weight under Sec. 217.152(b)(5) or a 600 percent risk weight under Sec. 217.152(b)(6) (as determined under Sec. 217.152), and each equity exposure to an investment fund (as determined under Sec. 217.154); and (2) The greater of: (i) The estimate of potential losses on the Board-regulated institution's equity exposures (other than equity exposures referenced in paragraph (d)(1) of this section) generated by the Board-regulated institution's internal equity exposure model multiplied by 12.5; or (ii) The sum of: (A) 200 percent multiplied by the aggregate adjusted carrying value of the Board-regulated institution's publicly traded equity exposures that do not belong to a hedge pair, do not qualify for a 0 percent, 20 percent, or 100 percent risk weight under Sec. 217.152(b)(1) through (b)(3)(i), and are not equity exposures to an investment fund; and (B) 200 percent multiplied by the aggregate ineffective portion of all hedge pairs. Sec. 217.154 Equity exposures to investment funds. (a) Available approaches. (1) Unless the exposure meets the requirements for a community development equity exposure in Sec. 217.152(b)(3)(i), a Board-regulated institution must determine the risk- weighted asset amount of an equity exposure to an investment fund under the full look-through approach in paragraph (b) of this section, the simple modified look-through approach in paragraph (c) of this section, or the alternative modified look-through approach in paragraph (d) of this section. (2) The risk-weighted asset amount of an equity exposure to an investment fund that meets the requirements for a community development equity exposure in Sec. 217.152(b)(3)(i) is its adjusted carrying value. (3) If an equity exposure to an investment fund is part of a hedge pair and the Board-regulated institution does not use the full look- through approach, the Board-regulated institution may use the ineffective portion of the hedge pair as determined under Sec. 217.152(c) as the adjusted carrying value for the equity exposure to the investment fund. The risk-weighted asset amount of the effective portion of the hedge pair is equal to its adjusted carrying value. (b) Full look-through approach. A Board-regulated institution that is able to calculate a risk-weighted asset amount for its proportional ownership share of each exposure held by the investment fund (as calculated under this subpart E of this part as if the proportional ownership share of each exposure were held directly by the Board- regulated institution) may either: (1) Set the risk-weighted asset amount of the Board-regulated institution's exposure to the fund equal to the product of: (i) The aggregate risk-weighted asset amounts of the exposures held by the fund as if they were held directly by the Board-regulated institution; and (ii) The Board-regulated institution's proportional ownership share of the fund; or (2) Include the Board-regulated institution's proportional ownership share of each exposure held by the fund in the Board-regulated institution's IMA. (c) Simple modified look-through approach. Under this approach, the risk-weighted asset amount for a Board-regulated institution's equity exposure to an investment fund equals the adjusted carrying value of the equity exposure multiplied by the highest risk weight assigned according to subpart D of this part that applies to any exposure the fund is permitted to hold under its prospectus, partnership agreement, or similar contract that defines the fund's permissible investments (excluding derivative contracts that are used for hedging rather than speculative purposes and that do not constitute a material portion of the fund's exposures). (d) Alternative modified look-through approach. Under this approach, a Board-regulated institution may assign [[Page 584]] the adjusted carrying value of an equity exposure to an investment fund on a pro rata basis to different risk weight categories assigned according to subpart D of this part based on the investment limits in the fund's prospectus, partnership agreement, or similar contract that defines the fund's permissible investments. The risk-weighted asset amount for the Board-regulated institution's equity exposure to the investment fund equals the sum of each portion of the adjusted carrying value assigned to an exposure class multiplied by the applicable risk weight. If the sum of the investment limits for all exposure types within the fund exceeds 100 percent, the Board-regulated institution must assume that the fund invests to the maximum extent permitted under its investment limits in the exposure type with the highest risk weight under subpart D of this part, and continues to make investments in order of the exposure type with the next highest risk weight under subpart D of this part until the maximum total investment level is reached. If more than one exposure type applies to an exposure, the Board-regulated institution must use the highest applicable risk weight. A Board- regulated institution may exclude derivative contracts held by the fund that are used for hedging rather than for speculative purposes and do not constitute a material portion of the fund's exposures. Sec. 217.155 Equity derivative contracts. (a) Under the IMA, in addition to holding risk-based capital against an equity derivative contract under this part, a Board-regulated institution must hold risk-based capital against the counterparty credit risk in the equity derivative contract by also treating the equity derivative contract as a wholesale exposure and computing a supplemental risk-weighted asset amount for the contract under Sec. 217.132. (b) Under the SRWA, a Board-regulated institution may choose not to hold risk-based capital against the counterparty credit risk of equity derivative contracts, as long as it does so for all such contracts. Where the equity derivative contracts are subject to a qualified master netting agreement, a Board-regulated institution using the SRWA must either include all or exclude all of the contracts from any measure used to determine counterparty credit risk exposure. Sec. Sec. 217.156-217.160 [Reserved] Risk-Weighted Assets for Operational Risk Sec. 217.161 Qualification requirements for incorporation of operational risk mitigants. (a) Qualification to use operational risk mitigants. A Board- regulated institution may adjust its estimate of operational risk exposure to reflect qualifying operational risk mitigants if: (1) The Board-regulated institution's operational risk quantification system is able to generate an estimate of the Board- regulated institution's operational risk exposure (which does not incorporate qualifying operational risk mitigants) and an estimate of the Board-regulated institution's operational risk exposure adjusted to incorporate qualifying operational risk mitigants; and (2) The Board-regulated institution's methodology for incorporating the effects of insurance, if the Board-regulated institution uses insurance as an operational risk mitigant, captures through appropriate discounts to the amount of risk mitigation: (i) The residual term of the policy, where less than one year; (ii) The cancellation terms of the policy, where less than one year; (iii) The policy's timeliness of payment; (iv) The uncertainty of payment by the provider of the policy; and (v) Mismatches in coverage between the policy and the hedged operational loss event. (b) Qualifying operational risk mitigants. Qualifying operational risk mitigants are: (1) Insurance that: (i) Is provided by an unaffiliated company that the Board-regulated institution deems to have strong capacity to meet its claims payment obligations and the obligor rating category to which the Board-regulated institution assigns the company is assigned a PD equal to or less than 10 basis points; [[Page 585]] (ii) Has an initial term of at least one year and a residual term of more than 90 days; (iii) Has a minimum notice period for cancellation by the provider of 90 days; (iv) Has no exclusions or limitations based upon regulatory action or for the receiver or liquidator of a failed depository institution; and (v) Is explicitly mapped to a potential operational loss event; (2) Operational risk mitigants other than insurance for which the Board has given prior written approval. In evaluating an operational risk mitigant other than insurance, the Board will consider whether the operational risk mitigant covers potential operational losses in a manner equivalent to holding total capital. Sec. 217.162 Mechanics of risk-weighted asset calculation. (a) If a Board-regulated institution does not qualify to use or does not have qualifying operational risk mitigants, the Board-regulated institution's dollar risk-based capital requirement for operational risk is its operational risk exposure minus eligible operational risk offsets (if any). (b) If a Board-regulated institution qualifies to use operational risk mitigants and has qualifying operational risk mitigants, the Board- regulated institution's dollar risk-based capital requirement for operational risk is the greater of: (1) The Board-regulated institution's operational risk exposure adjusted for qualifying operational risk mitigants minus eligible operational risk offsets (if any); or (2) 0.8 multiplied by the difference between: (i) The Board-regulated institution's operational risk exposure; and (ii) Eligible operational risk offsets (if any). (c) The Board-regulated institution's risk-weighted asset amount for operational risk equals the Board-regulated institution's dollar risk- based capital requirement for operational risk determined under sections 162(a) or (b) multiplied by 12.5. Sec. Sec. 217.163-217.170 [Reserved] Disclosures Sec. 217.171 Purpose and scope. Sec. Sec. 217.171 through 217.173 establish public disclosure requirements related to the capital requirements of a Board-regulated institution that is an advanced approaches Board-regulated institution. Sec. 217.172 Disclosure requirements. (a) A Board-regulated institution that is an advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to section 121(d) of subpart E of this part must publicly disclose each quarter its total and tier 1 risk-based capital ratios and their components as calculated under this subpart (that is, common equity tier 1 capital, additional tier 1 capital, tier 2 capital, total qualifying capital, and total risk-weighted assets). (b) A Board-regulated institution that is an advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to section 121(d) of subpart E of this part must comply with paragraph (c) of this section unless it is a consolidated subsidiary of a bank holding company, savings and loan holding company, or depository institution that is subject to these disclosure requirements or a subsidiary of a non-U.S. banking organization that is subject to comparable public disclosure requirements in its home jurisdiction. (c)(1) A Board-regulated institution described in paragraph (b) of this section must provide timely public disclosures each calendar quarter of the information in the applicable tables in Sec. 217.173. If a significant change occurs, such that the most recent reported amounts are no longer reflective of the Board-regulated institution's capital adequacy and risk profile, then a brief discussion of this change and its likely impact must be disclosed as soon as practicable thereafter. Qualitative disclosures that typically do not change each quarter (for example, a general [[Page 586]] summary of the Board-regulated institution's risk management objectives and policies, reporting system, and definitions) may be disclosed annually after the end of the fourth calendar quarter, provided that any significant changes to these are disclosed in the interim. Management may provide all of the disclosures required by this subpart in one place on the Board-regulated institution's public Web site or may provide the disclosures in more than one public financial report or other regulatory reports, provided that the Board-regulated institution publicly provides a summary table specifically indicating the location(s) of all such disclosures. (2) A Board-regulated institution described in paragraph (b) of this section must have a formal disclosure policy approved by the board of directors that addresses its approach for determining the disclosures it makes. The policy must address the associated internal controls and disclosure controls and procedures. The board of directors and senior management are responsible for establishing and maintaining an effective internal control structure over financial reporting, including the disclosures required by this subpart, and must ensure that appropriate review of the disclosures takes place. One or more senior officers of the Board-regulated institution must attest that the disclosures meet the requirements of this subpart. (3) If a Board-regulated institution described in paragraph (b) of this section believes that disclosure of specific commercial or financial information would prejudice seriously its position by making public information that is either proprietary or confidential in nature, the Board-regulated institution is not required to disclose those specific items, but must disclose more general information about the subject matter of the requirement, together with the fact that, and the reason why, the specific items of information have not been disclosed. (d)(1) A Board-regulated institution that meets any of the criteria in Sec. 217.100(b)(1) before January 1, 2015, must publicly disclose each quarter its supplementary leverage ratio and the components thereof (that is, tier 1 capital and total leverage exposure) as calculated under subpart B of this part, beginning with the first quarter in 2015. This disclosure requirement applies without regard to whether the Board- regulated institution has completed the parallel run process and received notification from the Board pursuant to Sec. 217.121(d). (2) A Board-regulated that meets any of the criteria in Sec. 217.100(b)(1) on or after January 1, 2015, or a Category III Board- regulated institution must publicly disclose each quarter its supplementary leverage ratio and the components thereof (that is, tier 1 capital and total leverage exposure) as calculated under subpart B of this part beginning with the calendar quarter immediately following the quarter in which the Board-regulated institution becomes an advanced approaches Board-regulated institution or a Category III Board-regulated institution. This disclosure requirement applies without regard to whether the Board-regulated institution has completed the parallel run process and has received notification from the Board pursuant to Sec. 217.121(d). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 57746, Sept. 26, 2014; 80 FR 41421, July 15, 2015; 84 FR 59271, Nov. 1, 2019] Sec. 217.173 Disclosures by certain advanced approaches Board-regulated institutions and Category III Board-regulated institutions. (a)(1) An advanced approaches Board-regulated institution described in Sec. 217.172(b) must make the disclosures described in Tables 1 through 12 to Sec. 217.173. (2) An advanced approaches Board-regulated institution and a Category III Board-regulated institution that is required to publicly disclose its supplementary leverage ratio pursuant to Sec. 217.172(d) must make the disclosures required under Table 13 to this section unless the Board-regulated institution is a consolidated subsidiary of a bank holding company, savings and loan holding company, or depository institution that is subject to these disclosure requirements or a subsidiary of a non-U.S. banking organization that is subject to comparable public disclosure requirements in its home jurisdiction. [[Page 587]] (3) The disclosures described in Tables 1 through 12 to Sec. 217.173 must be made publicly available for twelve consecutive quarters beginning on January 1, 2014, or a shorter period, as applicable, for the quarters after the Board-regulated institution has completed the parallel run process and received notification from the Board pursuant to Sec. 217.121(d). The disclosures described in Table 13 to Sec. 217.173 must be made publicly available for twelve consecutive quarters beginning on January 1, 2015, or a shorter period, as applicable, for the quarters after the Board-regulated institution becomes subject to the disclosure of the supplementary leverage ratio pursuant to Sec. 217.172(d) and Sec. 217.173(a)(2). Table 1 to Sec. 217.173--Scope of Application ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The name of the top corporate entity in the group to which subpart E of this part applies. (b)........................ A brief description of the differences in the basis for consolidating entities\1\ for accounting and regulatory purposes, with a description of those entities: (1) That are fully consolidated; (2) That are deconsolidated and deducted from total capital; (3) For which the total capital requirement is deducted; and (4) That are neither consolidated nor deducted (for example, where the investment in the entity is assigned a risk weight in accordance with this subpart). (c)........................ Any restrictions, or other major impediments, on transfer of funds or total capital within the group. Quantitative disclosures................ (d)........................ The aggregate amount of surplus capital of insurance subsidiaries included in the total capital of the consolidated group. (e)........................ The aggregate amount by which actual total capital is less than the minimum total capital requirement in all subsidiaries, with total capital requirements and the name(s) of the subsidiaries with such deficiencies. ---------------------------------------------------------------------------------------------------------------- \1\ Such entities include securities, insurance and other financial subsidiaries, commercial subsidiaries (where permitted), and significant minority equity investments in insurance, financial and commercial entities. Table 2 to Sec. 217.173--Capital Structure ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ Summary information on the terms and conditions of the main features of all regulatory capital instruments. Quantitative disclosures................ (b)........................ The amount of common equity tier 1 capital, with separate disclosure of: (1) Common stock and related surplus; (2) Retained earnings; (3) Common equity minority interest; (4) AOCI (net of tax) and other reserves; and (5) Regulatory adjustments and deductions made to common equity tier 1 capital. (c)........................ The amount of tier 1 capital, with separate disclosure of: (1) Additional tier 1 capital elements, including additional tier 1 capital instruments and tier 1 minority interest not included in common equity tier 1 capital; and (2) Regulatory adjustments and deductions made to tier 1 capital. (d)........................ The amount of total capital, with separate disclosure of: (1) Tier 2 capital elements, including tier 2 capital instruments and total capital minority interest not included in tier 1 capital; and (2) Regulatory adjustments and deductions made to total capital. (e)........................ (1) Whether the Board-regulated institution has elected to phase in recognition of the transitional amounts as defined in Sec. 217.300(f). (2) The Board-regulated institution's common equity tier 1 capital, tier 1 capital, and total capital without including the transitional amounts as defined in Sec. 217.300(f). ---------------------------------------------------------------------------------------------------------------- Table 3 to Sec. 217.173--Capital Adequacy ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ A summary discussion of the Board- regulated institution's approach to assessing the adequacy of its capital to support current and future activities. Quantitative disclosures................ (b)........................ Risk-weighted assets for credit risk from: (1) Wholesale exposures; (2) Residential mortgage exposures; (3) Qualifying revolving exposures; (4) Other retail exposures; (5) Securitization exposures; (6) Equity exposures: (7) Equity exposures subject to the simple risk weight approach; and (8) Equity exposures subject to the internal models approach. (c)........................ Standardized market risk-weighted assets and advanced market risk-weighted assets as calculated under subpart F of this part: (1) Standardized approach for specific risk; and (2) Internal models approach for specific risk. [[Page 588]] (d)........................ Risk-weighted assets for operational risk. (e)........................ (1) Common equity tier 1, tier 1 and total risk-based capital ratios reflecting the transition provisions described in Sec. 217.300(f): (A) For the top consolidated group; and (2) For each depository institution subsidiary. (f)........................ Common equity tier 1, tier 1 and total risk-based capital ratios reflecting the full adoption of CECL: ........................... (1) For the top consolidated group; and ........................... (2) For each depository institution subsidiary. (g)........................ Total risk-weighted assets. ---------------------------------------------------------------------------------------------------------------- Table 4 to Sec. 217.173--Capital Conservation and Countercyclical Capital Buffers ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The Board-regulated institution must publicly disclose the geographic breakdown of its private sector credit exposures used in the calculation of the countercyclical capital buffer. Quantitative disclosures................ (b)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose the capital conservation buffer and the countercyclical capital buffer as described under Sec. 217.11 of subpart B. (c)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose the buffer retained income of the Board-regulated institution, as described under Sec. 217.11 of subpart B. (d)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose any limitations it has on distributions and discretionary bonus payments resulting from the capital conservation buffer and the countercyclical capital buffer framework described under Sec. 217.11 of subpart B, including the maximum payout amount for the quarter. ---------------------------------------------------------------------------------------------------------------- (b) General qualitative disclosure requirement. For each separate risk area described in Tables 5 through 12 to Sec. 217.173, the Board- regulated institution must describe its risk management objectives and policies, including: (1) Strategies and processes; (2) The structure and organization of the relevant risk management function; (3) The scope and nature of risk reporting and/or measurement systems; and (4) Policies for hedging and/or mitigating risk and strategies and processes for monitoring the continuing effectiveness of hedges/ mitigants. Table 5 \1\ to Sec. 217.173--Credit Risk: General Disclosures ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement with respect to credit risk (excluding counterparty credit risk disclosed in accordance with Table 7 to Sec. 217.173), including: (1) Policy for determining past due or delinquency status; (2) Policy for placing loans on nonaccrual; (3) Policy for returning loans to accrual status; (4) Definition of and policy for identifying impaired loans (for financial accounting purposes). (5) Description of the methodology that the entity uses to estimate its allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, including statistical methods used where applicable; (6) Policy for charging-off uncollectible amounts; and (7) Discussion of the Board-regulated institution's credit risk management policy. Quantitative disclosures................ (b)........................ Total credit risk exposures and average credit risk exposures, after accounting offsets in accordance with GAAP,\2\ without taking into account the effects of credit risk mitigation techniques (for example, collateral and netting not permitted under GAAP), over the period categorized by major types of credit exposure. For example, Board-regulated institutions could use categories similar to that used for financial statement purposes. Such categories might include, for instance: (1) Loans, off-balance sheet commitments, and other non-derivative off-balance sheet exposures; (2) Debt securities; and (3) OTC derivatives. (c)........................ Geographic \3\ distribution of exposures, categorized in significant areas by major types of credit exposure. (d)........................ Industry or counterparty type distribution of exposures, categorized by major types of credit exposure. (e)........................ By major industry or counterparty type: (1) Amount of impaired loans for which there was a related allowance under GAAP; (2) Amount of impaired loans for which there was no related allowance under GAAP; (3) Amount of loans past due 90 days and on nonaccrual; [[Page 589]] (4) Amount of loans past due 90 days and still accruing; \4\ (5) The balance in the allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, at the end of each period, disaggregated on the basis of the entity's impairment method. To disaggregate the information required on the basis of impairment methodology, an entity shall separately disclose the amounts based on the requirements in GAAP; and (6) Charge-offs during the period. (f)........................ Amount of impaired loans and, if available, the amount of past due loans categorized by significant geographic areas including, if practical, the amounts of allowances related to each geographical area,\5\ further categorized as required by GAAP. (g)........................ Reconciliation of changes in ALLL or AACL, as applicable.\6\ (h)........................ Remaining contractual maturity breakdown (for example, one year or less) of the whole portfolio, categorized by credit exposure. ---------------------------------------------------------------------------------------------------------------- \1\ Table 5 to Sec. 217.173 does not cover equity exposures, which should be reported in Table 9. \2\ See, for example, ASC Topic 815-10 and 210-20 as they may be amended from time to time. \3\ Geographical areas may comprise individual countries, groups of countries, or regions within countries. A Board-regulated institution might choose to define the geographical areas based on the way the company's portfolio is geographically managed. The criteria used to allocate the loans to geographical areas must be specified. \4\ A Board-regulated institution is encouraged also to provide an analysis of the aging of past-due loans. \5\ The portion of the general allowance that is not allocated to a geographical area should be disclosed separately. \6\ The reconciliation should include the following: A description of the allowance; the opening balance of the allowance; charge-offs taken against the allowance during the period; amounts provided (or reversed) for estimated probable loan losses during the period; any other adjustments (for example, exchange rate differences, business combinations, acquisitions and disposals of subsidiaries), including transfers between allowances; and the closing balance of the allowance. Charge-offs and recoveries that have been recorded directly to the income statement should be disclosed separately. Table 6 to Sec. 217.173--Credit Risk: Disclosures for Portfolios Subject to IRB Risk-Based Capital Formulas ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ Explanation and review of the: (1) Structure of internal rating systems and if the Board-regulated institution considers external ratings, the relation between internal and external ratings; (2) Use of risk parameter estimates other than for regulatory capital purposes; (3) Process for managing and recognizing credit risk mitigation (see Table 8 to Sec. 217.173); and (4) Control mechanisms for the rating system, including discussion of independence, accountability, and rating systems review. (b)........................ Description of the internal ratings process, provided separately for the following: (1) Wholesale category; (2) Retail subcategories; (i) Residential mortgage exposures; (ii) Qualifying revolving exposures; and (iii) Other retail exposures. For each category and subcategory above the description should include: (A) The types of exposure included in the category/subcategories; and (B) The definitions, methods and data for estimation and validation of PD, LGD, and EAD, including assumptions employed in the derivation of these variables.\1\ Quantitative disclosures: risk (c)........................ (1) For wholesale exposures, present the assessment. following information across a sufficient number of PD grades (including default) to allow for a meaningful differentiation of credit risk: \2\ (i) Total EAD; \3\ (ii) Exposure-weighted average LGD (percentage); (iii) Exposure-weighted average risk weight; and (iv) Amount of undrawn commitments and exposure-weighted average EAD including average drawdowns prior to default for wholesale exposures. (2) For each retail subcategory, present the disclosures outlined above across a sufficient number of segments to allow for a meaningful differentiation of credit risk. Quantitative disclosures: historical (d)........................ Actual losses in the preceding period for results. each category and subcategory and how this differs from past experience. A discussion of the factors that impacted the loss experience in the preceding period--for example, has the Board- regulated institution experienced higher than average default rates, loss rates or EADs. (e)........................ The Board-regulated institution's estimates compared against actual outcomes over a longer period.\4\ At a minimum, this should include information on estimates of losses against actual losses in the wholesale category and each retail subcategory over a period sufficient to allow for a meaningful assessment of the performance of the internal rating processes for each category/subcategory.\5\ Where appropriate, the Board-regulated institution should further decompose this to provide analysis of PD, LGD, and EAD outcomes against estimates provided in the quantitative risk assessment disclosures above.\6\ ---------------------------------------------------------------------------------------------------------------- \1\ This disclosure item does not require a detailed description of the model in full--it should provide the reader with a broad overview of the model approach, describing definitions of the variables and methods for estimating and validating those variables set out in the quantitative risk disclosures below. This should be done for each of the four category/subcategories. The Board-regulated institution must disclose any significant differences in approach to estimating these variables within each category/subcategories. [[Page 590]] \2\ The PD, LGD and EAD disclosures in Table 6 (c) to Sec. 217.173 should reflect the effects of collateral, qualifying master netting agreements, eligible guarantees and eligible credit derivatives as defined under this part. Disclosure of each PD grade should include the exposure-weighted average PD for each grade. Where a Board-regulated institution aggregates PD grades for the purposes of disclosure, this should be a representative breakdown of the distribution of PD grades used for regulatory capital purposes. \3\ Outstanding loans and EAD on undrawn commitments can be presented on a combined basis for these disclosures. \4\ These disclosures are a way of further informing the reader about the reliability of the information provided in the ``quantitative disclosures: Risk assessment'' over the long run. The disclosures are requirements from year-end 2010; in the meantime, early adoption is encouraged. The phased implementation is to allow a Board-regulated institution sufficient time to build up a longer run of data that will make these disclosures meaningful. \5\ This disclosure item is not intended to be prescriptive about the period used for this assessment. Upon implementation, it is expected that a Board-regulated institution would provide these disclosures for as long a set of data as possible--for example, if a Board-regulated institution has 10 years of data, it might choose to disclose the average default rates for each PD grade over that 10-year period. Annual amounts need not be disclosed. \6\ A Board-regulated institution must provide this further decomposition where it will allow users greater insight into the reliability of the estimates provided in the ``quantitative disclosures: Risk assessment.'' In particular, it must provide this information where there are material differences between its estimates of PD, LGD or EAD compared to actual outcomes over the long run. The Board-regulated institution must also provide explanations for such differences. Table 7 to Sec. 217.173--General Disclosure for Counterparty Credit Risk of OTC Derivative Contracts, Repo- Style Transactions, and Eligible Margin Loans ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to OTC derivatives, eligible margin loans, and repo-style transactions, including: (1) Discussion of methodology used to assign economic capital and credit limits for counterparty credit exposures; (2) Discussion of policies for securing collateral, valuing and managing collateral, and establishing credit reserves; (3) Discussion of the primary types of collateral taken; (4) Discussion of policies with respect to wrong-way risk exposures; and (5) Discussion of the impact of the amount of collateral the Board-regulated institution would have to provide if the Board-regulated institution were to receive a credit rating downgrade. Quantitative Disclosures................ (b)........................ Gross positive fair value of contracts, netting benefits, netted current credit exposure, collateral held (including type, for example, cash, government securities), and net unsecured credit exposure.\1\ Also report measures for EAD used for regulatory capital for these transactions, the notional value of credit derivative hedges purchased for counterparty credit risk protection, and, for Board-regulated institutions not using the internal models methodology in Sec. 217.132(d) , the distribution of current credit exposure by types of credit exposure.\2\ (c)........................ Notional amount of purchased and sold credit derivatives, segregated between use for the Board-regulated institution's own credit portfolio and for its intermediation activities, including the distribution of the credit derivative products used, categorized further by protection bought and sold within each product group. (d)........................ The estimate of alpha if the Board- regulated institution has received supervisory approval to estimate alpha. ---------------------------------------------------------------------------------------------------------------- \1\ Net unsecured credit exposure is the credit exposure after considering the benefits from legally enforceable netting agreements and collateral arrangements, without taking into account haircuts for price volatility, liquidity, etc. \2\ This may include interest rate derivative contracts, foreign exchange derivative contracts, equity derivative contracts, credit derivatives, commodity or other derivative contracts, repo-style transactions, and eligible margin loans. Table 8 To Sec. 217.173--Credit Risk Mitigation \1 2\ ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement with respect to credit risk mitigation, including: (1) Policies and processes for, and an indication of the extent to which the Board-regulated institution uses, on- or off-balance sheet netting; (2) Policies and processes for collateral valuation and management; (3) A description of the main types of collateral taken by the Board-regulated institution; (4) The main types of guarantors/credit derivative counterparties and their creditworthiness; and (5) Information about (market or credit) risk concentrations within the mitigation taken. Quantitative disclosures................ (b)........................ For each separately disclosed portfolio, the total exposure (after, where applicable, on- or off-balance sheet netting) that is covered by guarantees/ credit derivatives. ---------------------------------------------------------------------------------------------------------------- \1\ At a minimum, a Board-regulated institution must provide the disclosures in Table 8 in relation to credit risk mitigation that has been recognized for the purposes of reducing capital requirements under this subpart. Where relevant, Board-regulated institutions are encouraged to give further information about mitigants that have not been recognized for that purpose. \2\ Credit derivatives and other credit mitigation that are treated for the purposes of this subpart as synthetic securitization exposures should be excluded from the credit risk mitigation disclosures (in Table 8 to Sec. 217.173) and included within those relating to securitization (in Table 9 to Sec. 217.173). Table 9 to Sec. 217.173--Securitization ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement with respect to securitization (including synthetic securitizations), including a discussion of: [[Page 591]] (1) The Board-regulated institution's objectives for securitizing assets, including the extent to which these activities transfer credit risk of the underlying exposures away from the Board- regulated institution to other entities and including the type of risks assumed and retained with resecuritization activity; \1\ (2) The nature of the risks (e.g. liquidity risk) inherent in the securitized assets; (3) The roles played by the Board- regulated institution in the securitization process \2\ and an indication of the extent of the Board- regulated institution's involvement in each of them; (4) The processes in place to monitor changes in the credit and market risk of securitization exposures including how those processes differ for resecuritization exposures; (5) The Board-regulated institution's policy for mitigating the credit risk retained through securitization and resecuritization exposures; and (6) The risk-based capital approaches that the Board-regulated institution follows for its securitization exposures including the type of securitization exposure to which each approach applies. (b)........................ A list of: (1) The type of securitization SPEs that the Board-regulated institution, as sponsor, uses to securitize third-party exposures. The Board-regulated institution must indicate whether it has exposure to these SPEs, either on- or off- balance sheet; and (2) Affiliated entities: (i) That the Board-regulated institution manages or advises; and (ii) That invest either in the securitization exposures that the Board- regulated institution has securitized or in securitization SPEs that the Board- regulated institution sponsors.\3\ (c)........................ Summary of the Board-regulated institution's accounting policies for securitization activities, including: (1) Whether the transactions are treated as sales or financings; (2) Recognition of gain-on-sale; (3) Methods and key assumptions and inputs applied in valuing retained or purchased interests; (4) Changes in methods and key assumptions and inputs from the previous period for valuing retained interests and impact of the changes; (5) Treatment of synthetic securitizations; (6) How exposures intended to be securitized are valued and whether they are recorded under subpart E of this part; and (7) Policies for recognizing liabilities on the balance sheet for arrangements that could require the Board-regulated institution to provide financial support for securitized assets. (d)........................ An explanation of significant changes to any of the quantitative information set forth below since the last reporting period. Quantitative disclosures................ (e)........................ The total outstanding exposures securitized \4\ by the Board-regulated institution in securitizations that meet the operational criteria in Sec. 217.141 (categorized into traditional/ synthetic), by underlying exposure type \5\ separately for securitizations of third-party exposures for which the bank acts only as sponsor. (f)........................ For exposures securitized by the Board- regulated institution in securitizations that meet the operational criteria in Sec. 217.141: (1) Amount of securitized assets that are impaired \6\/past due categorized by exposure type; and (2) Losses recognized by the Board- regulated institution during the current period categorized by exposure type.\7\ (g)........................ The total amount of outstanding exposures intended to be securitized categorized by exposure type. (h)........................ Aggregate amount of: (1) On-balance sheet securitization exposures retained or purchased categorized by exposure type; and (2) Off-balance sheet securitization exposures categorized by exposure type. (i)........................ (1) Aggregate amount of securitization exposures retained or purchased and the associated capital requirements for these exposures, categorized between securitization and resecuritization exposures, further categorized into a meaningful number of risk weight bands and by risk-based capital approach (e.g. SA, SFA, or SSFA). (2) Aggregate amount disclosed separately by type of underlying exposure in the pool of any: (i) After-tax gain-on-sale on a securitization that has been deducted from common equity tier 1 capital; and (ii) Credit-enhancing interest-only strip that is assigned a 1,250 percent risk weight. (j)........................ Summary of current year's securitization activity, including the amount of exposures securitized (by exposure type), and recognized gain or loss on sale by asset type. (k)........................ Aggregate amount of resecuritization exposures retained or purchased categorized according to: (1) Exposures to which credit risk mitigation is applied and those not applied; and (2) Exposures to guarantors categorized according to guarantor creditworthiness categories or guarantor name. ---------------------------------------------------------------------------------------------------------------- \1\ The Board-regulated institution must describe the structure of resecuritizations in which it participates; this description must be provided for the main categories of resecuritization products in which the Board- regulated institution is active. \2\ For example, these roles would include originator, investor, servicer, provider of credit enhancement, sponsor, liquidity provider, or swap provider. \3\ For example, money market mutual funds should be listed individually, and personal and private trusts, should be noted collectively. [[Page 592]] \4\ ``Exposures securitized'' include underlying exposures originated by the bank, whether generated by them or purchased, and recognized in the balance sheet, from third parties, and third-party exposures included in sponsored transactions. Securitization transactions (including underlying exposures originally on the bank's balance sheet and underlying exposures acquired by the bank from third-party entities) in which the originating bank does not retain any securitization exposure should be shown separately but need only be reported for the year of inception. \5\ A Board-regulated institution is required to disclose exposures regardless of whether there is a capital charge under this part. \6\ A Board-regulated institution must include credit-related other than temporary impairment (OTTI). \7\ For example, charge-offs/allowances (if the assets remain on the bank's balance sheet) or credit-related OTTI of I/O strips and other retained residual interests, as well as recognition of liabilities for probable future financial support required of the bank with respect to securitized assets. Table 10 to Sec. 217.173--Operational Risk ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement for operational risk. (b)........................ Description of the AMA, including a discussion of relevant internal and external factors considered in the Board- regulated institution's measurement approach. (c)........................ A description of the use of insurance for the purpose of mitigating operational risk. ---------------------------------------------------------------------------------------------------------------- Table 11 to Sec. 217.173--Equities Not Subject to Subpart F of This Part ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement with respect to the equity risk of equity holdings not subject to subpart F of this part, including: (1) Differentiation between holdings on which capital gains are expected and those held for other objectives, including for relationship and strategic reasons; and (2) Discussion of important policies covering the valuation of and accounting for equity holdings not subject to subpart F of this part. This includes the accounting methodology and valuation methodologies used, including key assumptions and practices affecting valuation as well as significant changes in these practices. Quantitative disclosures................ (b)........................ Carrying value on the balance sheet of equity investments, as well as the fair value of those investments. (c)........................ The types and nature of investments, including the amount that is: (1) Publicly traded; and (2) Non-publicly traded. (d)........................ The cumulative realized gains (losses) arising from sales and liquidations in the reporting period. (e)........................ (1) Total unrealized gains (losses) \1\ (2) Total latent revaluation gains (losses) \2\ (3) Any amounts of the above included in tier 1 and/or tier 2 capital. (f)........................ Capital requirements categorized by appropriate equity groupings, consistent with the Board-regulated institution's methodology, as well as the aggregate amounts and the type of equity investments subject to any supervisory transition regarding total capital requirements.\3\ ---------------------------------------------------------------------------------------------------------------- \1\ Unrealized gains (losses) recognized in the balance sheet but not through earnings. \2\ Unrealized gains (losses) not recognized either in the balance sheet or through earnings. \3\ This disclosure must include a breakdown of equities that are subject to the 0 percent, 20 percent, 100 percent, 300 percent, 400 percent, and 600 percent risk weights, as applicable. Table 12 to Sec. 217.173--Interest Rate Risk for Non-Trading Activities ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement, including the nature of interest rate risk for non-trading activities and key assumptions, including assumptions regarding loan prepayments and behavior of non-maturity deposits, and frequency of measurement of interest rate risk for non-trading activities. Quantitative disclosures................ (b)........................ The increase (decline) in earnings or economic value (or relevant measure used by management) for upward and downward rate shocks according to management's method for measuring interest rate risk for non-trading activities, categorized by currency (as appropriate). ---------------------------------------------------------------------------------------------------------------- (c) Except as provided in Sec. 217.172(b), a Board-regulated institution described in Sec. 217.172(d) must make the disclosures described in Table 13 to Sec. 217.173; provided, however, the disclosures required under this paragraph are required without regard to whether the Board-regulated institution has completed the parallel run process and has received notification from the Board pursuant to Sec. 217.121(d). The Board-regulated institution must make these disclosures publicly available beginning on January 1, 2015. [[Page 593]] Table 13 to Sec. 217.173--Supplementary Leverage Ratio ------------------------------------------------------------------------ Dollar amounts in thousands --------------------------------------- Tril Bil Mil Thou ------------------------------------------------------------------------ Part 1: Summary comparison of accounting assets and total leverage exposure ------------------------------------------------------------------------ 1 Total consolidated assets as reported in published financial statements..................... 2 Adjustment for investments in banking, financial, insurance or commercial entities that are consolidated for accounting purposes but outside the scope of regulatory consolidation.... 3 Adjustment for fiduciary assets recognized on balance sheet but excluded from total leverage exposure.............. 4 Adjustment for derivative exposures...................... 5 Adjustment for repo-style transactions................... 6 Adjustment for off-balance sheet exposures (that is, conversion to credit equivalent amounts of off-balance sheet exposures)..................... 7 Other adjustments............. 8 Total leverage exposure....... ------------------------------------------------------------------------ Part 2: Supplementary leverage ratio ------------------------------------------------------------------------ On-balance sheet exposures 1 On-balance sheet assets (excluding on-balance sheet assets for repo-style transactions and derivative exposures, but including cash collateral received in derivative transactions)....... 2 LESS: Amounts deducted from tier 1 capital................. 3 Total on-balance sheet exposures (excluding on-balance sheet assets for repo-style transactions and derivative exposures, but including cash collateral received in derivative transactions) (sum of lines 1 and 2).............. Derivative exposures 4 Current exposure for derivative exposures (that is, net of cash variation margin).. 5 Add-on amounts for potential future exposure (PFE) for derivative exposures........... 6 Gross-up for cash collateral posted if deducted from the on- balance sheet assets, except for cash variation margin...... 7 LESS: Deductions of receivable assets for cash variation margin posted in derivative transactions, if included in on- balance sheet assets........... 8 LESS: Exempted CCP leg of client-cleared transactions.... 9 Effective notional principal amount of sold credit protection..................... 10 LESS: Effective notional principal amount offsets and PFE adjustments for sold credit protection..................... 11 Total derivative exposures (sum of lines 4 to 10)......... Repo-style transactions 12 On-balance sheet assets for repo-style transactions, except include the gross value of receivables for reverse repurchase transactions. Exclude from this item the value of securities received in a security-for-security repo- style transaction where the securities lender has not sold or re-hypothecated the securities received. Include in this item the value of securities that qualified for sales treatment that must be reversed....................... 13 LESS: Reduction of the gross value of receivables in reverse repurchase transactions by cash payables in repurchase transactions under netting agreements..................... 14 Counterparty credit risk for all repo-style transactions.... 15 Exposure for repo-style transactions where a banking organization acts as an agent.. 16 Total exposures for repo- style transactions (sum of lines 12 to 15)................ Other off-balance sheet exposures 17 Off-balance sheet exposures at gross notional amounts...... 18 LESS: Adjustments for conversion to credit equivalent amounts........................ 19 Off-balance sheet exposures (sum of lines 17 and 18)....... Capital and total leverage exposure 20 Tier 1 capital............... 21 Total leverage exposure (sum of lines 3, 11, 16 and 19)..... Supplementary leverage ratio --------------------------------------- 22 Supplementary leverage ratio. (in percent) ------------------------------------------------------------------------ [[Page 594]] [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 57746, Sept. 26, 2014; 80 FR 41421, July 15, 2015; 84 FR 4242, Feb. 14, 2019; 84 FR 59272, Nov. 1, 2019; 85 FR 4428, Jan. 24, 2020] Sec. Sec. 217.174-217.200 [Reserved] Subpart F_Risk-Weighted Assets_Market Risk Sec. 217.201 Purpose, applicability, and reservation of authority. (a) Purpose. This subpart F establishes risk-based capital requirements for Board-regulated institutions with significant exposure to market risk, provides methods for these Board-regulated institutions to calculate their standardized measure for market risk and, if applicable, advanced measure for market risk, and establishes public disclosure requirements. (b) Applicability. (1) This subpart applies to any Board-regulated institution with aggregate trading assets and trading liabilities (as reported in the Board-regulated institution's most recent quarterly Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable, any savings and loan holding company that does not file the FR Y-9C should follow the instructions to the FR Y-9C) equal to: (i) 10 percent or more of quarter-end total assets as reported on the most recent quarterly [Call Report or FR Y-9C]; or (ii) $1 billion or more. (2) The Board may apply this subpart to any Board-regulated institution if the Board deems it necessary or appropriate because of the level of market risk of the Board-regulated institution or to ensure safe and sound banking practices. (3) The Board may exclude a Board-regulated institution that meets the criteria of paragraph (b)(1) of this section from application of this subpart if the Board determines that the exclusion is appropriate based on the level of market risk of the Board-regulated institution and is consistent with safe and sound banking practices. (c) Reservation of authority (1) The Board may require a Board- regulated institution to hold an amount of capital greater than otherwise required under this subpart if the Board determines that the Board-regulated institution's capital requirement for market risk as calculated under this subpart is not commensurate with the market risk of the Board-regulated institution's covered positions. In making determinations under paragraphs (c)(1) through (c)(3) of this section, the Board will apply notice and response procedures generally in the same manner as the notice and response procedures set forth in 12 CFR 263.202. (2) If the Board determines that the risk-based capital requirement calculated under this subpart by the Board-regulated institution for one or more covered positions or portfolios of covered positions is not commensurate with the risks associated with those positions or portfolios, the Board may require the Board-regulated institution to assign a different risk-based capital requirement to the positions or portfolios that more accurately reflects the risk of the positions or portfolios. (3) The Board may also require a Board-regulated institution to calculate risk-based capital requirements for specific positions or portfolios under this subpart, or under subpart D or subpart E of this part, as appropriate, to more accurately reflect the risks of the positions. (4) Nothing in this subpart limits the authority of the Board under any other provision of law or regulation to take supervisory or enforcement action, including action to address unsafe or unsound practices or conditions, deficient capital levels, or violations of law. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013] Sec. 217.202 Definitions. (a) Terms set forth in Sec. 217.2 and used in this subpart have the definitions assigned thereto in Sec. 217.2. (b) For the purposes of this subpart, the following terms are defined as follows: Backtesting means the comparison of a Board-regulated institution's internal estimates with actual outcomes during a sample period not used in [[Page 595]] model development. For purposes of this subpart, backtesting is one form of out-of-sample testing. Commodity position means a position for which price risk arises from changes in the price of a commodity. Corporate debt position means a debt position that is an exposure to a company that is not a sovereign entity, the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, a multilateral development bank, a depository institution, a foreign bank, a credit union, a public sector entity, a GSE, or a securitization. Correlation trading position means: (1) A securitization position for which all or substantially all of the value of the underlying exposures is based on the credit quality of a single company for which a two-way market exists, or on commonly traded indices based on such exposures for which a two-way market exists on the indices; or (2) A position that is not a securitization position and that hedges a position described in paragraph (1) of this definition; and (3) A correlation trading position does not include: (i) A resecuritization position; (ii) A derivative of a securitization position that does not provide a pro rata share in the proceeds of a securitization tranche; or (iii) A securitization position for which the underlying assets or reference exposures are retail exposures, residential mortgage exposures, or commercial mortgage exposures. Covered position means the following positions: (1) A trading asset or trading liability (whether on- or off-balance sheet),\32\ as reported on Schedule RC-D of the Call Report or Schedule HC-D of the FR Y-9C (any savings and loan holding companies that does not file the FR Y-9C should follow the instructions to the FR Y-9C), that meets the following conditions: --------------------------------------------------------------------------- \32\ Securities subject to repurchase and lending agreements are included as if they are still owned by the lender. --------------------------------------------------------------------------- (i) The position is a trading position or hedges another covered position; \33\ and --------------------------------------------------------------------------- \33\ A position that hedges a trading position must be within the scope of the bank's hedging strategy as described in paragraph (a)(2) of section 203 of this subpart. --------------------------------------------------------------------------- (ii) The position is free of any restrictive covenants on its tradability or the Board-regulated institution is able to hedge the material risk elements of the position in a two-way market; (2) A foreign exchange or commodity position, regardless of whether the position is a trading asset or trading liability (excluding any structural foreign currency positions that the Board-regulated institution chooses to exclude with prior supervisory approval); and (3) Notwithstanding paragraphs (1) and (2) of this definition, a covered position does not include: (i) An intangible asset, including any servicing asset; (ii) Any hedge of a trading position that the Board determines to be outside the scope of the Board-regulated institution's hedging strategy required in paragraph (a)(2) of Sec. 217.203; (iii) Any position that, in form or substance, acts as a liquidity facility that provides support to asset-backed commercial paper; (iv) A credit derivative the Board-regulated institution recognizes as a guarantee for risk-weighted asset amount calculation purposes under subpart D or subpart E of this part; (v) Any position that is recognized as a credit valuation adjustment hedge under Sec. 217.132(e)(5) or Sec. 217.132(e)(6), except as provided in Sec. 217.132(e)(6)(vii); (vi) Any equity position that is not publicly traded, other than a derivative that references a publicly traded equity and other than a position in an investment company as defined in and registered with the SEC under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.), provided that all the underlying equities held by the investment company are publicly traded; (vii) Any equity position that is not publicly traded, other than a derivative [[Page 596]] that references a publicly traded equity and other than a position in an entity not domiciled in the United States (or a political subdivision thereof) that is supervised and regulated in a manner similar to entities described in paragraph (3)(vi) of this definition; (viii) Any position a Board-regulated institution holds with the intent to securitize; or (ix) Any direct real estate holding. Debt position means a covered position that is not a securitization position or a correlation trading position and that has a value that reacts primarily to changes in interest rates or credit spreads. Default by a sovereign entity has the same meaning as the term sovereign default under Sec. 217.2. Equity position means a covered position that is not a securitization position or a correlation trading position and that has a value that reacts primarily to changes in equity prices. Event risk means the risk of loss on equity or hybrid equity positions as a result of a financial event, such as the announcement or occurrence of a company merger, acquisition, spin-off, or dissolution. Foreign exchange position means a position for which price risk arises from changes in foreign exchange rates. General market risk means the risk of loss that could result from broad market movements, such as changes in the general level of interest rates, credit spreads, equity prices, foreign exchange rates, or commodity prices. Hedge means a position or positions that offset all, or substantially all, of one or more material risk factors of another position. Idiosyncratic risk means the risk of loss in the value of a position that arises from changes in risk factors unique to that position. Incremental risk means the default risk and credit migration risk of a position. Default risk means the risk of loss on a position that could result from the failure of an obligor to make timely payments of principal or interest on its debt obligation, and the risk of loss that could result from bankruptcy, insolvency, or similar proceeding. Credit migration risk means the price risk that arises from significant changes in the underlying credit quality of the position. Market risk means the risk of loss on a position that could result from movements in market prices. Resecuritization position means a covered position that is: (1) An on- or off-balance sheet exposure to a resecuritization; or (2) An exposure that directly or indirectly references a resecuritization exposure in paragraph (1) of this definition. Securitization means a transaction in which: (1) All or a portion of the credit risk of one or more underlying exposures is transferred to one or more third parties; (2) The credit risk associated with the underlying exposures has been separated into at least two tranches that reflect different levels of seniority; (3) Performance of the securitization exposures depends upon the performance of the underlying exposures; (4) All or substantially all of the underlying exposures are financial exposures (such as loans, commitments, credit derivatives, guarantees, receivables, asset-backed securities, mortgage-backed securities, other debt securities, or equity securities); (5) For non-synthetic securitizations, the underlying exposures are not owned by an operating company; (6) The underlying exposures are not owned by a small business investment company described in section 302 of the Small Business Investment Act; (7) The underlying exposures are not owned by a firm an investment in which qualifies as a community development investment under section 24(Eleventh) of the National Bank Act; (8) The Board may determine that a transaction in which the underlying exposures are owned by an investment firm that exercises substantially unfettered control over the size and composition of its assets, liabilities, and off-balance sheet exposures is not a securitization based on the transaction's leverage, risk profile, or economic substance; (9) The Board may deem an exposure to a transaction that meets the definition of a securitization, notwithstanding paragraph (5), (6), or (7) of this [[Page 597]] definition, to be a securitization based on the transaction's leverage, risk profile, or economic substance; and (10) The transaction is not: (i) An investment fund; (ii) A collective investment fund (as defined in 12 CFR 208.34. (iii) An employee benefit plan as defined in paragraphs (3) and (32) of section 3 of ERISA, a ``governmental plan'' (as defined in 29 U.S.C. 1002(32)) that complies with the tax deferral qualification requirements provided in the Internal Revenue Code, or any similar employee benefit plan established under the laws of a foreign jurisdiction; or (iv) Registered with the SEC under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) or foreign equivalents thereof. Securitization position means a covered position that is: (1) An on-balance sheet or off-balance sheet credit exposure (including credit-enhancing representations and warranties) that arises from a securitization (including a resecuritization); or (2) An exposure that directly or indirectly references a securitization exposure described in paragraph (1) of this definition. Sovereign debt position means a direct exposure to a sovereign entity. Specific risk means the risk of loss on a position that could result from factors other than broad market movements and includes event risk, default risk, and idiosyncratic risk. Structural position in a foreign currency means a position that is not a trading position and that is: (1) Subordinated debt, equity, or minority interest in a consolidated subsidiary that is denominated in a foreign currency; (2) Capital assigned to foreign branches that is denominated in a foreign currency; (3) A position related to an unconsolidated subsidiary or another item that is denominated in a foreign currency and that is deducted from the Board-regulated institution's tier 1 or tier 2 capital; or (4) A position designed to hedge a Board-regulated institution's capital ratios or earnings against the effect on paragraphs (1), (2), or (3) of this definition of adverse exchange rate movements. Term repo-style transaction means a repo-style transaction that has an original maturity in excess of one business day. Trading position means a position that is held by the Board- regulated institution for the purpose of short-term resale or with the intent of benefiting from actual or expected short-term price movements, or to lock in arbitrage profits. Two-way market means a market where there are independent bona fide offers to buy and sell so that a price reasonably related to the last sales price or current bona fide competitive bid and offer quotations can be determined within one day and settled at that price within a relatively short time frame conforming to trade custom. Value-at-Risk (VaR) means the estimate of the maximum amount that the value of one or more positions could decline due to market price or rate movements during a fixed holding period within a stated confidence interval. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62290, Oct. 11, 2013; 79 FR 78295, Dec. 30, 2014; 80 FR 70672, Nov. 16, 2015; 84 FR 35269, July 22, 2019; 85 FR 4419, Jan. 24, 2020] Sec. 217.203 Requirements for application of this subpart F. (a) Trading positions--(1) Identification of trading positions. A Board-regulated institution must have clearly defined policies and procedures for determining which of its trading assets and trading liabilities are trading positions and which of its trading positions are correlation trading positions. These policies and procedures must take into account: (i) The extent to which a position, or a hedge of its material risks, can be marked-to-market daily by reference to a two-way market; and (ii) Possible impairments to the liquidity of a position or its hedge. (2) Trading and hedging strategies. A Board-regulated institution must have clearly defined trading and hedging strategies for its trading positions that [[Page 598]] are approved by senior management of the Board-regulated institution. (i) The trading strategy must articulate the expected holding period of, and the market risk associated with, each portfolio of trading positions. (ii) The hedging strategy must articulate for each portfolio of trading positions the level of market risk the Board-regulated institution is willing to accept and must detail the instruments, techniques, and strategies the Board-regulated institution will use to hedge the risk of the portfolio. (b) Management of covered positions--(1) Active management. A Board- regulated institution must have clearly defined policies and procedures for actively managing all covered positions. At a minimum, these policies and procedures must require: (i) Marking positions to market or to model on a daily basis; (ii) Daily assessment of the Board-regulated institution's ability to hedge position and portfolio risks, and of the extent of market liquidity; (iii) Establishment and daily monitoring of limits on positions by a risk control unit independent of the trading business unit; (iv) Daily monitoring by senior management of information described in paragraphs (b)(1)(i) through (b)(1)(iii) of this section; (v) At least annual reassessment of established limits on positions by senior management; and (vi) At least annual assessments by qualified personnel of the quality of market inputs to the valuation process, the soundness of key assumptions, the reliability of parameter estimation in pricing models, and the stability and accuracy of model calibration under alternative market scenarios. (2) Valuation of covered positions. The Board-regulated institution must have a process for prudent valuation of its covered positions that includes policies and procedures on the valuation of positions, marking positions to market or to model, independent price verification, and valuation adjustments or reserves. The valuation process must consider, as appropriate, unearned credit spreads, close-out costs, early termination costs, investing and funding costs, liquidity, and model risk. (c) Requirements for internal models. (1) A Board-regulated institution must obtain the prior written approval of the Board before using any internal model to calculate its risk-based capital requirement under this subpart. (2) A Board-regulated institution must meet all of the requirements of this section on an ongoing basis. The Board-regulated institution must promptly notify the Board when: (i) The Board-regulated institution plans to extend the use of a model that the Board has approved under this subpart to an additional business line or product type; (ii) The Board-regulated institution makes any change to an internal model approved by the Board under this subpart that would result in a material change in the Board-regulated institution's risk-weighted asset amount for a portfolio of covered positions; or (iii) The Board-regulated institution makes any material change to its modeling assumptions. (3) The Board may rescind its approval of the use of any internal model (in whole or in part) or of the determination of the approach under Sec. 217.209(a)(2)(ii) for a Board-regulated institution's modeled correlation trading positions and determine an appropriate capital requirement for the covered positions to which the model would apply, if the Board determines that the model no longer complies with this subpart or fails to reflect accurately the risks of the Board- regulated institution's covered positions. (4) The Board-regulated institution must periodically, but no less frequently than annually, review its internal models in light of developments in financial markets and modeling technologies, and enhance those models as appropriate to ensure that they continue to meet the Board's standards for model approval and employ risk measurement methodologies that are most appropriate for the Board-regulated institution's covered positions. (5) The Board-regulated institution must incorporate its internal models into its risk management process and integrate the internal models used for [[Page 599]] calculating its VaR-based measure into its daily risk management process. (6) The level of sophistication of a Board-regulated institution's internal models must be commensurate with the complexity and amount of its covered positions. A Board-regulated institution's internal models may use any of the generally accepted approaches, including but not limited to variance-covariance models, historical simulations, or Monte Carlo simulations, to measure market risk. (7) The Board-regulated institution's internal models must properly measure all the material risks in the covered positions to which they are applied. (8) The Board-regulated institution's internal models must conservatively assess the risks arising from less liquid positions and positions with limited price transparency under realistic market scenarios. (9) The Board-regulated institution must have a rigorous and well- defined process for re-estimating, re-evaluating, and updating its internal models to ensure continued applicability and relevance. (10) If a Board-regulated institution uses internal models to measure specific risk, the internal models must also satisfy the requirements in paragraph (b)(1) of Sec. 217.207. (d) Control, oversight, and validation mechanisms. (1) The Board- regulated institution must have a risk control unit that reports directly to senior management and is independent from the business trading units. (2) The Board-regulated institution must validate its internal models initially and on an ongoing basis. The Board-regulated institution's validation process must be independent of the internal models' development, implementation, and operation, or the validation process must be subjected to an independent review of its adequacy and effectiveness. Validation must include: (i) An evaluation of the conceptual soundness of (including developmental evidence supporting) the internal models; (ii) An ongoing monitoring process that includes verification of processes and the comparison of the Board-regulated institution's model outputs with relevant internal and external data sources or estimation techniques; and (iii) An outcomes analysis process that includes backtesting. For internal models used to calculate the VaR-based measure, this process must include a comparison of the changes in the Board-regulated institution's portfolio value that would have occurred were end-of-day positions to remain unchanged (therefore, excluding fees, commissions, reserves, net interest income, and intraday trading) with VaR-based measures during a sample period not used in model development. (3) The Board-regulated institution must stress test the market risk of its covered positions at a frequency appropriate to each portfolio, and in no case less frequently than quarterly. The stress tests must take into account concentration risk (including but not limited to concentrations in single issuers, industries, sectors, or markets), illiquidity under stressed market conditions, and risks arising from the Board-regulated institution's trading activities that may not be adequately captured in its internal models. (4) The Board-regulated institution must have an internal audit function independent of business-line management that at least annually assesses the effectiveness of the controls supporting the Board- regulated institution's market risk measurement systems, including the activities of the business trading units and independent risk control unit, compliance with policies and procedures, and calculation of the Board-regulated institution's measures for market risk under this subpart. At least annually, the internal audit function must report its findings to the Board-regulated institution's board of directors (or a committee thereof). (e) Internal assessment of capital adequacy. The Board-regulated institution must have a rigorous process for assessing its overall capital adequacy in relation to its market risk. The assessment must take into account risks that may not be captured fully in the VaR-based measure, including concentration and liquidity risk under stressed market conditions. [[Page 600]] (f) Documentation. The Board-regulated institution must adequately document all material aspects of its internal models, management and valuation of covered positions, control, oversight, validation and review processes and results, and internal assessment of capital adequacy. Sec. 217.204 Measure for market risk. (a) General requirement. (1) A Board-regulated institution must calculate its standardized measure for market risk by following the steps described in paragraph (a)(2) of this section. An advanced approaches Board-regulated institution also must calculate an advanced measure for market risk by following the steps in paragraph (a)(2) of this section. (2) Measure for market risk. A Board-regulated institution must calculate the standardized measure for market risk, which equals the sum of the VaR-based capital requirement, stressed VaR-based capital requirement, specific risk add-ons, incremental risk capital requirement, comprehensive risk capital requirement, and capital requirement for de minimis exposures all as defined under this paragraph (a)(2), (except, that the Board-regulated institution may not use the SFA in section 210(b)(2)(vii)(B) of this subpart for purposes of this calculation)[, plus any additional capital requirement established by the Board]. An advanced approaches Board-regulated institution that has completed the parallel run process and that has received notifications from the Board pursuant to Sec. 217.121(d) also must calculate the advanced measure for market risk, which equals the sum of the VaR-based capital requirement, stressed VaR-based capital requirement, specific risk add-ons, incremental risk capital requirement, comprehensive risk capital requirement, and capital requirement for de minimis exposures as defined under this paragraph (a)(2) [, plus any additional capital requirement established by the Board]. (i) VaR-based capital requirement. A Board-regulated institution's VaR-based capital requirement equals the greater of: (A) The previous day's VaR-based measure as calculated under Sec. 217.205; or (B) The average of the daily VaR-based measures as calculated under Sec. 217.205 for each of the preceding 60 business days multiplied by three, except as provided in paragraph (b) of this section. (ii) Stressed VaR-based capital requirement. A Board-regulated institution's stressed VaR-based capital requirement equals the greater of: (A) The most recent stressed VaR-based measure as calculated under Sec. 217.206; or (B) The average of the stressed VaR-based measures as calculated under Sec. 217.206 for each of the preceding 12 weeks multiplied by three, except as provided in paragraph (b) of this section. (iii) Specific risk add-ons. A Board-regulated institution's specific risk add-ons equal any specific risk add-ons that are required under Sec. 217.207 and are calculated in accordance with Sec. 217.210. (iv) Incremental risk capital requirement. A Board-regulated institution's incremental risk capital requirement equals any incremental risk capital requirement as calculated under section 208 of this subpart. (v) Comprehensive risk capital requirement. A Board-regulated institution's comprehensive risk capital requirement equals any comprehensive risk capital requirement as calculated under section 209 of this subpart. (vi) Capital requirement for de minimis exposures. A Board-regulated institution's capital requirement for de minimis exposures equals: (A) The absolute value of the fair value of those de minimis exposures that are not captured in the Board-regulated institution's VaR-based measure or under paragraph (a)(2)(vi)(B) of this section; and (B) With the prior written approval of the Board, the capital requirement for any de minimis exposures using alternative techniques that appropriately measure the market risk associated with those exposures. (b) Backtesting. A Board-regulated institution must compare each of its most recent 250 business days' trading [[Page 601]] losses (excluding fees, commissions, reserves, net interest income, and intraday trading) with the corresponding daily VaR-based measures calibrated to a one-day holding period and at a one-tail, 99.0 percent confidence level. A Board-regulated institution must begin backtesting as required by this paragraph (b) no later than one year after the later of January 1, 2014 and the date on which the Board-regulated institution becomes subject to this subpart. In the interim, consistent with safety and soundness principles, a Board-regulated institution subject to this subpart as of January 1, 2014 should continue to follow backtesting procedures in accordance with the Board's supervisory expectations. (1) Once each quarter, the Board-regulated institution must identify the number of exceptions (that is, the number of business days for which the actual daily net trading loss, if any, exceeds the corresponding daily VaR-based measure) that have occurred over the preceding 250 business days. (2) A Board-regulated institution must use the multiplication factor in Table 1 to Sec. 217.204 that corresponds to the number of exceptions identified in paragraph (b)(1) of this section to determine its VaR- based capital requirement for market risk under paragraph (a)(2)(i) of this section and to determine its stressed VaR-based capital requirement for market risk under paragraph (a)(2)(ii) of this section until it obtains the next quarter's backtesting results, unless the Board notifies the Board-regulated institution in writing that a different adjustment or other action is appropriate. Table 1 to Sec. 217.204--Multiplication Factors Based on Results of Backtesting ------------------------------------------------------------------------ Multiplication Number of exceptions factor ------------------------------------------------------------------------ 4 or fewer.............................................. 3.00 5....................................................... 3.40 6....................................................... 3.50 7....................................................... 3.65 8....................................................... 3.75 9....................................................... 3.85 10 or more.............................................. 4.00 ------------------------------------------------------------------------ Sec. 217.205 VaR-based measure. (a) General requirement. A Board-regulated institution must use one or more internal models to calculate daily a VaR-based measure of the general market risk of all covered positions. The daily VaR-based measure also may reflect the Board-regulated institution's specific risk for one or more portfolios of debt and equity positions, if the internal models meet the requirements of paragraph (b)(1) of Sec. 217.207. The daily VaR-based measure must also reflect the Board-regulated institution's specific risk for any portfolio of correlation trading positions that is modeled under Sec. 217.209. A Board-regulated institution may elect to include term repo-style transactions in its VaR-based measure, provided that the Board-regulated institution includes all such term repo-style transactions consistently over time. (1) The Board-regulated institution's internal models for calculating its VaR-based measure must use risk factors sufficient to measure the market risk inherent in all covered positions. The market risk categories must include, as appropriate, interest rate risk, credit spread risk, equity price risk, foreign exchange risk, and commodity price risk. For material positions in the major currencies and markets, modeling techniques must incorporate enough segments of the yield curve--in no case less than six--to capture differences in volatility and less than perfect correlation of rates along the yield curve. (2) The VaR-based measure may incorporate empirical correlations within and across risk categories, provided the Board-regulated institution validates and demonstrates the reasonableness of its process for measuring correlations. If the VaR-based measure does not incorporate empirical correlations across risk categories, the Board- regulated institution must add the separate measures from its internal models used to calculate the VaR-based measure for the appropriate market risk categories (interest rate risk, credit spread risk, equity price risk, foreign exchange rate risk, and/or commodity price risk) to determine its aggregate VaR-based measure. [[Page 602]] (3) The VaR-based measure must include the risks arising from the nonlinear price characteristics of options positions or positions with embedded optionality and the sensitivity of the fair value of the positions to changes in the volatility of the underlying rates, prices, or other material risk factors. A Board-regulated institution with a large or complex options portfolio must measure the volatility of options positions or positions with embedded optionality by different maturities and/or strike prices, where material. (4) The Board-regulated institution must be able to justify to the satisfaction of the Board the omission of any risk factors from the calculation of its VaR-based measure that the Board-regulated institution uses in its pricing models. (5) The Board-regulated institution must demonstrate to the satisfaction of the Board the appropriateness of any proxies used to capture the risks of the Board-regulated institution's actual positions for which such proxies are used. (b) Quantitative requirements for VaR-based measure. (1) The VaR- based measure must be calculated on a daily basis using a one-tail, 99.0 percent confidence level, and a holding period equivalent to a 10- business-day movement in underlying risk factors, such as rates, spreads, and prices. To calculate VaR-based measures using a 10- business-day holding period, the Board-regulated institution may calculate 10-business-day measures directly or may convert VaR-based measures using holding periods other than 10 business days to the equivalent of a 10-business-day holding period. A Board-regulated institution that converts its VaR-based measure in such a manner must be able to justify the reasonableness of its approach to the satisfaction of the Board. (2) The VaR-based measure must be based on a historical observation period of at least one year. Data used to determine the VaR-based measure must be relevant to the Board-regulated institution's actual exposures and of sufficient quality to support the calculation of risk- based capital requirements. The Board-regulated institution must update data sets at least monthly or more frequently as changes in market conditions or portfolio composition warrant. For a Board-regulated institution that uses a weighting scheme or other method for the historical observation period, the Board-regulated institution must either: (i) Use an effective observation period of at least one year in which the average time lag of the observations is at least six months; or (ii) Demonstrate to the Board that its weighting scheme is more effective than a weighting scheme with an average time lag of at least six months representing the volatility of the Board-regulated institution's trading portfolio over a full business cycle. A Board- regulated institution using this option must update its data more frequently than monthly and in a manner appropriate for the type of weighting scheme. (c) A Board-regulated institution must divide its portfolio into a number of significant subportfolios approved by the Board for subportfolio backtesting purposes. These subportfolios must be sufficient to allow the Board-regulated institution and the Board to assess the adequacy of the VaR model at the risk factor level; the Board will evaluate the appropriateness of these subportfolios relative to the value and composition of the Board-regulated institution's covered positions. The Board-regulated institution must retain and make available to the Board the following information for each subportfolio for each business day over the previous two years (500 business days), with no more than a 60-day lag: (1) A daily VaR-based measure for the subportfolio calibrated to a one-tail, 99.0 percent confidence level; (2) The daily profit or loss for the subportfolio (that is, the net change in price of the positions held in the portfolio at the end of the previous business day); and (3) The p-value of the profit or loss on each day (that is, the probability of observing a profit that is less than, or a loss that is greater than, the amount reported for purposes of paragraph (c)(2) of this section based on the model used to calculate the VaR-based measure described in paragraph (c)(1) of this section). [[Page 603]] Sec. 217.206 Stressed VaR-based measure. (a) General requirement. At least weekly, a Board-regulated institution must use the same internal model(s) used to calculate its VaR-based measure to calculate a stressed VaR-based measure. (b) Quantitative requirements for stressed VaR-based measure. (1) A Board-regulated institution must calculate a stressed VaR-based measure for its covered positions using the same model(s) used to calculate the VaR-based measure, subject to the same confidence level and holding period applicable to the VaR-based measure under Sec. 217.205, but with model inputs calibrated to historical data from a continuous 12-month period that reflects a period of significant financial stress appropriate to the Board-regulated institution's current portfolio. (2) The stressed VaR-based measure must be calculated at least weekly and be no less than the Board-regulated institution's VaR-based measure. (3) A Board-regulated institution must have policies and procedures that describe how it determines the period of significant financial stress used to calculate the Board-regulated institution's stressed VaR- based measure under this section and must be able to provide empirical support for the period used. The Board-regulated institution must obtain the prior approval of the Board for, and notify the Board if the Board- regulated institution makes any material changes to, these policies and procedures. The policies and procedures must address: (i) How the Board-regulated institution links the period of significant financial stress used to calculate the stressed VaR-based measure to the composition and directional bias of its current portfolio; and (ii) The Board-regulated institution's process for selecting, reviewing, and updating the period of significant financial stress used to calculate the stressed VaR-based measure and for monitoring the appropriateness of the period to the Board-regulated institution's current portfolio. (4) Nothing in this section prevents the Board from requiring a Board-regulated institution to use a different period of significant financial stress in the calculation of the stressed VaR-based measure. Sec. 217.207 Specific risk. (a) General requirement. A Board-regulated institution must use one of the methods in this section to measure the specific risk for each of its debt, equity, and securitization positions with specific risk. (b) Modeled specific risk. A Board-regulated institution may use models to measure the specific risk of covered positions as provided in paragraph (a) of section 205 of this subpart (therefore, excluding securitization positions that are not modeled under section 209 of this subpart). A Board-regulated institution must use models to measure the specific risk of correlation trading positions that are modeled under Sec. 217.209. (1) Requirements for specific risk modeling. (i) If a Board- regulated institution uses internal models to measure the specific risk of a portfolio, the internal models must: (A) Explain the historical price variation in the portfolio; (B) Be responsive to changes in market conditions; (C) Be robust to an adverse environment, including signaling rising risk in an adverse environment; and (D) Capture all material components of specific risk for the debt and equity positions in the portfolio. Specifically, the internal models must: (1) Capture event risk and idiosyncratic risk; and (2) Capture and demonstrate sensitivity to material differences between positions that are similar but not identical and to changes in portfolio composition and concentrations. (ii) If a Board-regulated institution calculates an incremental risk measure for a portfolio of debt or equity positions under section 208 of this subpart, the Board-regulated institution is not required to capture default and credit migration risks in its internal models used to measure the specific risk of those portfolios. (2) Specific risk fully modeled for one or more portfolios. If the Board-regulated institution's VaR-based measure captures all material aspects of specific risk for one or more of its portfolios of [[Page 604]] debt, equity, or correlation trading positions, the Board-regulated institution has no specific risk add-on for those portfolios for purposes of paragraph (a)(2)(iii) of Sec. 217.204. (c) Specific risk not modeled. (1) If the Board-regulated institution's VaR-based measure does not capture all material aspects of specific risk for a portfolio of debt, equity, or correlation trading positions, the Board-regulated institution must calculate a specific- risk add-on for the portfolio under the standardized measurement method as described in Sec. 217.210. (2) A Board-regulated institution must calculate a specific risk add-on under the standardized measurement method as described in Sec. 217.210 for all of its securitization positions that are not modeled under Sec. 217.209. Sec. 217.208 Incremental risk. (a) General requirement. A Board-regulated institution that measures the specific risk of a portfolio of debt positions under Sec. 217.207(b) using internal models must calculate at least weekly an incremental risk measure for that portfolio according to the requirements in this section. The incremental risk measure is the Board- regulated institution's measure of potential losses due to incremental risk over a one-year time horizon at a one-tail, 99.9 percent confidence level, either under the assumption of a constant level of risk, or under the assumption of constant positions. With the prior approval of the Board, a Board-regulated institution may choose to include portfolios of equity positions in its incremental risk model, provided that it consistently includes such equity positions in a manner that is consistent with how the Board-regulated institution internally measures and manages the incremental risk of such positions at the portfolio level. If equity positions are included in the model, for modeling purposes default is considered to have occurred upon the default of any debt of the issuer of the equity position. A Board-regulated institution may not include correlation trading positions or securitization positions in its incremental risk measure. (b) Requirements for incremental risk modeling. For purposes of calculating the incremental risk measure, the incremental risk model must: (1) Measure incremental risk over a one-year time horizon and at a one-tail, 99.9 percent confidence level, either under the assumption of a constant level of risk, or under the assumption of constant positions. (i) A constant level of risk assumption means that the Board- regulated institution rebalances, or rolls over, its trading positions at the beginning of each liquidity horizon over the one-year horizon in a manner that maintains the Board-regulated institution's initial risk level. The Board-regulated institution must determine the frequency of rebalancing in a manner consistent with the liquidity horizons of the positions in the portfolio. The liquidity horizon of a position or set of positions is the time required for a Board-regulated institution to reduce its exposure to, or hedge all of its material risks of, the position(s) in a stressed market. The liquidity horizon for a position or set of positions may not be less than the shorter of three months or the contractual maturity of the position. (ii) A constant position assumption means that the Board-regulated institution maintains the same set of positions throughout the one-year horizon. If a Board-regulated institution uses this assumption, it must do so consistently across all portfolios. (iii) A Board-regulated institution's selection of a constant position or a constant risk assumption must be consistent between the Board-regulated institution's incremental risk model and its comprehensive risk model described in section 209 of this subpart, if applicable. (iv) A Board-regulated institution's treatment of liquidity horizons must be consistent between the Board-regulated institution's incremental risk model and its comprehensive risk model described in section 209, if applicable. (2) Recognize the impact of correlations between default and migration events among obligors. (3) Reflect the effect of issuer and market concentrations, as well as concentrations that can arise within and [[Page 605]] across product classes during stressed conditions. (4) Reflect netting only of long and short positions that reference the same financial instrument. (5) Reflect any material mismatch between a position and its hedge. (6) Recognize the effect that liquidity horizons have on dynamic hedging strategies. In such cases, a Board-regulated institution must: (i) Choose to model the rebalancing of the hedge consistently over the relevant set of trading positions; (ii) Demonstrate that the inclusion of rebalancing results in a more appropriate risk measurement; (iii) Demonstrate that the market for the hedge is sufficiently liquid to permit rebalancing during periods of stress; and (iv) Capture in the incremental risk model any residual risks arising from such hedging strategies. (7) Reflect the nonlinear impact of options and other positions with material nonlinear behavior with respect to default and migration changes. (8) Maintain consistency with the Board-regulated institution's internal risk management methodologies for identifying, measuring, and managing risk. (c) Calculation of incremental risk capital requirement. The incremental risk capital requirement is the greater of: (1) The average of the incremental risk measures over the previous 12 weeks; or (2) The most recent incremental risk measure. Sec. 217.209 Comprehensive risk. (a) General requirement. (1) Subject to the prior approval of the Board, a Board-regulated institution may use the method in this section to measure comprehensive risk, that is, all price risk, for one or more portfolios of correlation trading positions. (2) A Board-regulated institution that measures the price risk of a portfolio of correlation trading positions using internal models must calculate at least weekly a comprehensive risk measure that captures all price risk according to the requirements of this section. The comprehensive risk measure is either: (i) The sum of: (A) The Board-regulated institution's modeled measure of all price risk determined according to the requirements in paragraph (b) of this section; and (B) A surcharge for the Board-regulated institution's modeled correlation trading positions equal to the total specific risk add-on for such positions as calculated under section 210 of this subpart multiplied by 8.0 percent; or (ii) With approval of the Board and provided the Board-regulated institution has met the requirements of this section for a period of at least one year and can demonstrate the effectiveness of the model through the results of ongoing model validation efforts including robust benchmarking, the greater of: (A) The Board-regulated institution's modeled measure of all price risk determined according to the requirements in paragraph (b) of this section; or (B) The total specific risk add-on that would apply to the bank's modeled correlation trading positions as calculated under section 210 of this subpart multiplied by 8.0 percent. (b) Requirements for modeling all price risk. If a Board-regulated institution uses an internal model to measure the price risk of a portfolio of correlation trading positions: (1) The internal model must measure comprehensive risk over a one- year time horizon at a one-tail, 99.9 percent confidence level, either under the assumption of a constant level of risk, or under the assumption of constant positions. (2) The model must capture all material price risk, including but not limited to the following: (i) The risks associated with the contractual structure of cash flows of the position, its issuer, and its underlying exposures; (ii) Credit spread risk, including nonlinear price risks; (iii) The volatility of implied correlations, including nonlinear price risks such as the cross-effect between spreads and correlations; (iv) Basis risk; [[Page 606]] (v) Recovery rate volatility as it relates to the propensity for recovery rates to affect tranche prices; and (vi) To the extent the comprehensive risk measure incorporates the benefits of dynamic hedging, the static nature of the hedge over the liquidity horizon must be recognized. In such cases, a Board-regulated institution must: (A) Choose to model the rebalancing of the hedge consistently over the relevant set of trading positions; (B) Demonstrate that the inclusion of rebalancing results in a more appropriate risk measurement; (C) Demonstrate that the market for the hedge is sufficiently liquid to permit rebalancing during periods of stress; and (D) Capture in the comprehensive risk model any residual risks arising from such hedging strategies; (3) The Board-regulated institution must use market data that are relevant in representing the risk profile of the Board-regulated institution's correlation trading positions in order to ensure that the Board-regulated institution fully captures the material risks of the correlation trading positions in its comprehensive risk measure in accordance with this section; and (4) The Board-regulated institution must be able to demonstrate that its model is an appropriate representation of comprehensive risk in light of the historical price variation of its correlation trading positions. (c) Requirements for stress testing. (1) A Board-regulated institution must at least weekly apply specific, supervisory stress scenarios to its portfolio of correlation trading positions that capture changes in: (i) Default rates; (ii) Recovery rates; (iii) Credit spreads; (iv) Correlations of underlying exposures; and (v) Correlations of a correlation trading position and its hedge. (2) Other requirements. (i) A Board-regulated institution must retain and make available to the Board the results of the supervisory stress testing, including comparisons with the capital requirements generated by the Board-regulated institution's comprehensive risk model. (ii) A Board-regulated institution must report to the Board promptly any instances where the stress tests indicate any material deficiencies in the comprehensive risk model. (d) Calculation of comprehensive risk capital requirement. The comprehensive risk capital requirement is the greater of: (1) The average of the comprehensive risk measures over the previous 12 weeks; or (2) The most recent comprehensive risk measure. Sec. 217.210 Standardized measurement method for specific risk. (a) General requirement. A Board-regulated institution must calculate a total specific risk add-on for each portfolio of debt and equity positions for which the Board-regulated institution's VaR-based measure does not capture all material aspects of specific risk and for all securitization positions that are not modeled under Sec. 217.209. A Board-regulated institution must calculate each specific risk add-on in accordance with the requirements of this section. Notwithstanding any other definition or requirement in this subpart, a position that would have qualified as a debt position or an equity position but for the fact that it qualifies as a correlation trading position under paragraph (2) of the definition of correlation trading position in Sec. 217.2, shall be considered a debt position or an equity position, respectively, for purposes of this section 210 of this subpart. (1) The specific risk add-on for an individual debt or securitization position that represents sold credit protection is capped at the notional amount of the credit derivative contract. The specific risk add-on for an individual debt or securitization position that represents purchased credit protection is capped at the current fair value of the transaction plus the absolute value of the present value of all remaining payments to the protection seller under the transaction. This sum is equal to the value of the protection leg of the transaction. (2) For debt, equity, or securitization positions that are derivatives with linear payoffs, a Board-regulated institution must assign a specific risk- [[Page 607]] weighting factor to the fair value of the effective notional amount of the underlying instrument or index portfolio, except for a securitization position for which the Board-regulated institution directly calculates a specific risk add-on using the SFA in paragraph (b)(2)(vii)(B) of this section. A swap must be included as an effective notional position in the underlying instrument or portfolio, with the receiving side treated as a long position and the paying side treated as a short position. For debt, equity, or securitization positions that are derivatives with nonlinear payoffs, a Board-regulated institution must risk weight the fair value of the effective notional amount of the underlying instrument or portfolio multiplied by the derivative's delta. (3) For debt, equity, or securitization positions, a Board-regulated institution may net long and short positions (including derivatives) in identical issues or identical indices. A Board-regulated institution may also net positions in depositary receipts against an opposite position in an identical equity in different markets, provided that the Board- regulated institution includes the costs of conversion. (4) A set of transactions consisting of either a debt position and its credit derivative hedge or a securitization position and its credit derivative hedge has a specific risk add-on of zero if: (i) The debt or securitization position is fully hedged by a total return swap (or similar instrument where there is a matching of swap payments and changes in fair value of the debt or securitization position); (ii) There is an exact match between the reference obligation of the swap and the debt or securitization position; (iii) There is an exact match between the currency of the swap and the debt or securitization position; and (iv) There is either an exact match between the maturity date of the swap and the maturity date of the debt or securitization position; or, in cases where a total return swap references a portfolio of positions with different maturity dates, the total return swap maturity date must match the maturity date of the underlying asset in that portfolio that has the latest maturity date. (5) The specific risk add-on for a set of transactions consisting of either a debt position and its credit derivative hedge or a securitization position and its credit derivative hedge that does not meet the criteria of paragraph (a)(4) of this section is equal to 20.0 percent of the capital requirement for the side of the transaction with the higher specific risk add-on when: (i) The credit risk of the position is fully hedged by a credit default swap or similar instrument; (ii) There is an exact match between the reference obligation of the credit derivative hedge and the debt or securitization position; (iii) There is an exact match between the currency of the credit derivative hedge and the debt or securitization position; and (iv) There is either an exact match between the maturity date of the credit derivative hedge and the maturity date of the debt or securitization position; or, in the case where the credit derivative hedge has a standard maturity date: (A) The maturity date of the credit derivative hedge is within 30 business days of the maturity date of the debt or securitization position; or (B) For purchased credit protection, the maturity date of the credit derivative hedge is later than the maturity date of the debt or securitization position, but is no later than the standard maturity date for that instrument that immediately follows the maturity date of the debt or securitization position. The maturity date of the credit derivative hedge may not exceed the maturity date of the debt or securitization position by more than 90 calendar days. (6) The specific risk add-on for a set of transactions consisting of either a debt position and its credit derivative hedge or a securitization position and its credit derivative hedge that does not meet the criteria of either paragraph (a)(4) or (a)(5) of this section, but in which all or substantially all of the price risk has been hedged, is equal to the specific risk add-on for the side of the transaction with the higher specific risk add-on. [[Page 608]] (b) Debt and securitization positions. (1) The total specific risk add-on for a portfolio of debt or securitization positions is the sum of the specific risk add-ons for individual debt or securitization positions, as computed under this section. To determine the specific risk add-on for individual debt or securitization positions, a Board- regulated institution must multiply the absolute value of the current fair value of each net long or net short debt or securitization position in the portfolio by the appropriate specific risk-weighting factor as set forth in paragraphs (b)(2)(i) through (b)(2)(vii) of this section. (2) For the purpose of this section, the appropriate specific risk- weighting factors include: (i) Sovereign debt positions. (A) In accordance with Table 1 to Sec. 217.210, a Board-regulated institution must assign a specific risk-weighting factor to a sovereign debt position based on the CRC applicable to the sovereign, and, as applicable, the remaining contractual maturity of the position, or if there is no CRC applicable to the sovereign, based on whether the sovereign entity is a member of the OECD. Notwithstanding any other provision in this subpart, sovereign debt positions that are backed by the full faith and credit of the United States are treated as having a CRC of 0. Table 1 to Sec. 217.210--Specific Risk-Weighting Factors for Sovereign Debt Positions ------------------------------------------------------------------------ ------------------------------------------------------------------------ Specific risk-weighting factor (in percent) ------------------------------------------------------------------------ CRC: 0-1.......................... 0.0 -------------------------------------- 2-3.......................... Remaining 0.25 contractual maturity of 6 months or less. Remaining 1.0 contractual maturity of greater than 6 and up to and including 24 months. Remaining 1.6 contractual maturity exceeds 24 months. -------------------------------------- 4-6.......................... 8.0 -------------------------------------- 7............................ 12.0 ------------------------------------------------------------------------ OECD Member with No CRC.......... 0.0 ------------------------------------------------------------------------ Non-OECD Member with No CRC...... 8.0 ------------------------------------------------------------------------ Sovereign Default................ 12.0 ------------------------------------------------------------------------ (B) Notwithstanding paragraph (b)(2)(i)(A) of this section, a Board- regulated institution may assign to a sovereign debt position a specific risk-weighting factor that is lower than the applicable specific risk- weighting factor in Table 1 to Sec. 217.210 if: (1) The position is denominated in the sovereign entity's currency; (2) The Board-regulated institution has at least an equivalent amount of liabilities in that currency; and (3) The sovereign entity allows banks under its jurisdiction to assign the lower specific risk-weighting factor to the same exposures to the sovereign entity. (C) A Board-regulated institution must assign a 12.0 percent specific risk-weighting factor to a sovereign debt position immediately upon determination a default has occurred; or if a default has occurred within the previous five years. (D) A Board-regulated institution must assign a 0.0 percent specific risk-weighting factor to a sovereign debt position if the sovereign entity is a member of the OECD and does not have a CRC assigned to it, except as provided in paragraph (b)(2)(i)(C) of this section. (E) A Board-regulated institution must assign an 8.0 percent specific risk-weighting factor to a sovereign debt position if the sovereign is not a member of the OECD and does not have a CRC assigned to it, except as provided in paragraph (b)(2)(i)(C) of this section. [[Page 609]] (ii) Certain supranational entity and multilateral development bank debt positions. A Board-regulated institution may assign a 0.0 percent specific risk-weighting factor to a debt position that is an exposure to the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, or an MDB. (iii) GSE debt positions. A Board-regulated institution must assign a 1.6 percent specific risk-weighting factor to a debt position that is an exposure to a GSE. Notwithstanding the foregoing, a Board-regulated institution must assign an 8.0 percent specific risk-weighting factor to preferred stock issued by a GSE. (iv) Depository institution, foreign bank, and credit union debt positions. (A) Except as provided in paragraph (b)(2)(iv)(B) of this section, a Board-regulated institution must assign a specific risk- weighting factor to a debt position that is an exposure to a depository institution, a foreign bank, or a credit union, in accordance with Table 2 to Sec. 217.210, based on the CRC that corresponds to that entity's home country or the OECD membership status of that entity's home country if there is no CRC applicable to the entity's home country, and, as applicable, the remaining contractual maturity of the position. Table 2 to Sec. 217.210--Specific Risk-Weighting Factors for Depository Institution, Foreign Bank, and Credit Union Debt Positions ------------------------------------------------------------------------ ------------------------------------------------------------------------ Specific risk-weighting factor (in percent) ------------------------------------------------------------------------ CRC 0-2 or OECD Member with No Remaining contractual 0.25 CRC. maturity of 6 months or less. Remaining contractual 1.0 maturity of greater than 6 and up to and including 24 months. Remaining contractual 1.6 maturity exceeds 24 months. ------------------------------------------------------------------------ CRC 3......................... 8.0 ------------------------------------------------------------------------ CRC 4-7....................... 12.0 ------------------------------------------------------------------------ Non-OECD Member with No CRC... 8.0 ------------------------------------------------------------------------ Sovereign Default............. 12.0 ------------------------------------------------------------------------ (B) A Board-regulated institution must assign a specific risk- weighting factor of 8.0 percent to a debt position that is an exposure to a depository institution or a foreign bank that is includable in the depository institution's or foreign bank's regulatory capital and that is not subject to deduction as a reciprocal holding under Sec. 217.22. (C) A Board-regulated institution must assign a 12.0 percent specific risk-weighting factor to a debt position that is an exposure to a foreign bank immediately upon determination that a default by the foreign bank's home country has occurred or if a default by the foreign bank's home country has occurred within the previous five years. (v) PSE debt positions. (A) Except as provided in paragraph (b)(2)(v)(B) of this section, a Board-regulated institution must assign a specific risk-weighting factor to a debt position that is an exposure to a PSE in accordance with Tables 3 and 4 to Sec. 217.210 depending on the position's categorization as a general obligation or revenue obligation based on the CRC that corresponds to the PSE's home country or the OECD membership status of the PSE's home country if there is no CRC applicable to the PSE's home country, and, as applicable, the remaining contractual maturity of the position, as set forth in Tables 3 and 4 of this section. (B) A Board-regulated institution may assign a lower specific risk- weighting factor than would otherwise apply under Tables 3 and 4 of this section to a debt position that is an exposure to a foreign PSE if: [[Page 610]] (1) The PSE's home country allows banks under its jurisdiction to assign a lower specific risk-weighting factor to such position; and (2) The specific risk-weighting factor is not lower than the risk weight that corresponds to the PSE's home country in accordance with Tables 3 and 4 of this section. (C) A Board-regulated institution must assign a 12.0 percent specific risk-weighting factor to a PSE debt position immediately upon determination that a default by the PSE's home country has occurred or if a default by the PSE's home country has occurred within the previous five years. Table 3 to Sec. 217.210--Specific Risk-Weighting Factors for PSE General Obligation Debt Positions ------------------------------------------------------------------------ ------------------------------------------------------------------------ General obligation specific risk- weighting factor (in percent) ------------------------------------------------------------------------ CRC 0-2 or OECD Member with No Remaining contractual 0.25 CRC. maturity of 6 months or less. Remaining contractual 1.0 maturity of greater than 6 and up to and including 24 months. Remaining contractual 1.6 maturity exceeds 24 months. ------------------------------------------------------------------------ CRC 3......................... 8.0 ------------------------------------------------------------------------ CRC 4-7....................... 12.0 ------------------------------------------------------------------------ Non-OECD Member with No CRC... 8.0 ------------------------------------------------------------------------ Sovereign Default............. 12.0 ------------------------------------------------------------------------ Table 4 to Sec. 217.210--Specific Risk-Weighting Factors for PSE Revenue Obligation Debt Positions ------------------------------------------------------------------------ ------------------------------------------------------------------------ Revenue obligation specific risk- weighting factor (in percent) ------------------------------------------------------------------------ CRC 0-1 or OECD Member with No Remaining contractual 0.25 CRC. maturity of 6 months or less. Remaining contractual 1.0 maturity of greater than 6 and up to and including 24 months. Remaining contractual 1.6 maturity exceeds 24 months. ------------------------------------------------------------------------ CRC 2-3....................... 8.0 ------------------------------------------------------------------------ CRC 4-7....................... 12.0 ------------------------------------------------------------------------ Non-OECD Member with No CRC... 8.0 ------------------------------------------------------------------------ Sovereign Default............. 12.0 ------------------------------------------------------------------------ (vi) Corporate debt positions. Except as otherwise provided in paragraph (b)(2)(vi)(B) of this section, a Board-regulated institution must assign a specific risk-weighting factor to a corporate debt position in accordance with the investment grade methodology in paragraph (b)(2)(vi)(A) of this section. (A) Investment grade methodology. (1) For corporate debt positions that are exposures to entities that have issued and outstanding publicly traded instruments, a Board-regulated institution must assign a specific risk-weighting factor based on the category and remaining contractual maturity of the position, in accordance with Table 5 to Sec. 217.210. For purposes of this paragraph (b)(2)(vi)(A)(1), the Board-regulated institution must determine whether the position is in the investment grade or not investment grade category. [[Page 611]] Table 5 to Sec. 217.210--Specific Risk-Weighting Factors for Corporate Debt Positions Under the Investment Grade Methodology ------------------------------------------------------------------------ Specific risk- Category Remaining contractual weighting factor maturity (in percent) ------------------------------------------------------------------------ Investment Grade.............. 6 months or less...... 0.50 Greater than 6 and up 2.00 to and including 24 months. Greater than 24 months 4.00 ------------------------------------------------------------------------ Non-investment Grade.................................. 12.00 ------------------------------------------------------------------------ (2) A Board-regulated institution must assign an 8.0 percent specific risk-weighting factor for corporate debt positions that are exposures to entities that do not have publicly traded instruments outstanding. (B) Limitations. (1) A Board-regulated institution must assign a specific risk-weighting factor of at least 8.0 percent to an interest- only mortgage-backed security that is not a securitization position. (2) A Board-regulated institution shall not assign a corporate debt position a specific risk-weighting factor that is lower than the specific risk-weighting factor that corresponds to the CRC of the issuer's home country, if applicable, in table 1 of this section. (vii) Securitization positions--(A) General requirements. (1) A Board-regulated institution that is not an advanced approaches Board- regulated institution or is a U.S. intermediate holding company that is required to be established or designated pursuant to 12 CFR 252.153 and that is not calculating risk-weighted assets according to Subpart E must assign a specific risk-weighting factor to a securitization position using either the simplified supervisory formula approach (SSFA) in paragraph (b)(2)(vii)(C) of this section (and Sec. 217.211) or assign a specific risk-weighting factor of 100 percent to the position. (2) A Board-regulated institution that is an advanced approaches Board-regulated institution or is a U.S. intermediate holding company that is required to be established or designated pursuant to 12 CFR 252.153 and that is calculating risk-weighted assets according to Subpart E must calculate a specific risk add-on for a securitization position in accordance with paragraph (b)(2)(vii)(B) of this section if the Board-regulated institution and the securitization position each qualifies to use the SFA in Sec. 217.143. A Board-regulated institution that is an advanced approaches Board-regulated institution or is a U.S. intermediate holding company that is required to be established or designated pursuant to 12 CFR 252.153 and that is calculating risk- weighted assets according to Subpart E with a securitization position that does not qualify for the SFA under paragraph (b)(2)(vii)(B) of this section may assign a specific risk-weighting factor to the securitization position using the SSFA in accordance with paragraph (b)(2)(vii)(C) of this section or assign a specific risk-weighting factor of 100 percent to the position. (3) A Board-regulated institution must treat a short securitization position as if it is a long securitization position solely for calculation purposes when using the SFA in paragraph (b)(2)(vii)(B) of this section or the SSFA in paragraph (b)(2)(vii)(C) of this section. (B) SFA. To calculate the specific risk add-on for a securitization position using the SFA, a Board-regulated institution that is an advanced approaches Board-regulated institution must set the specific risk add-on for the position equal to the risk-based capital requirement as calculated under Sec. 217.143. (C) SSFA. To use the SSFA to determine the specific risk-weighting factor for a securitization position, a Board-regulated institution must calculate the specific risk-weighting factor in accordance with Sec. 217.211. (D) Nth-to-default credit derivatives. A Board-regulated institution must determine a specific risk add-on using the SFA in paragraph (b)(2)(vii)(B) of this section, or assign a specific risk- [[Page 612]] weighting factor using the SSFA in paragraph (b)(2)(vii)(C) of this section to an n\th\-to-default credit derivative in accordance with this paragraph (b)(2)(vii)(D), regardless of whether the Board-regulated institution is a net protection buyer or net protection seller. A Board- regulated institution must determine its position in the n\th\-to- default credit derivative as the largest notional amount of all the underlying exposures. (1) For purposes of determining the specific risk add-on using the SFA in paragraph (b)(2)(vii)(B) of this section or the specific risk- weighting factor for an n\th\-to-default credit derivative using the SSFA in paragraph (b)(2)(vii)(C) of this section the Board-regulated institution must calculate the attachment point and detachment point of its position as follows: (i) The attachment point (parameter A) is the ratio of the sum of the notional amounts of all underlying exposures that are subordinated to the Board-regulated institution's position to the total notional amount of all underlying exposures. For purposes of the SSFA, parameter A is expressed as a decimal value between zero and one. For purposes of using the SFA in paragraph (b)(2)(vii)(B) of this section to calculate the specific add-on for its position in an n\th\-to-default credit derivative, parameter A must be set equal to the credit enhancement level (L) input to the SFA formula in section 143 of this subpart. In the case of a first-to-default credit derivative, there are no underlying exposures that are subordinated to the Board-regulated institution's position. In the case of a second-or-subsequent-to-default credit derivative, the smallest (n-1) notional amounts of the underlying exposure(s) are subordinated to the Board-regulated institution's position. (ii) The detachment point (parameter D) equals the sum of parameter A plus the ratio of the notional amount of the Board-regulated institution's position in the n\th\-to-default credit derivative to the total notional amount of all underlying exposures. For purposes of the SSFA, parameter A is expressed as a decimal value between zero and one. For purposes of using the SFA in paragraph (b)(2)(vii)(B) of this section to calculate the specific risk add-on for its position in an n\th\-to-default credit derivative, parameter D must be set to equal the L input plus the thickness of tranche T input to the SFA formula in Sec. 217.143 of this subpart. (2) A Board-regulated institution that does not use the SFA in paragraph (b)(2)(vii)(B) of this section to determine a specific risk- add on, or the SSFA in paragraph (b)(2)(vii)(C) of this section to determine a specific risk-weighting factor for its position in an n\th\- to-default credit derivative must assign a specific risk-weighting factor of 100 percent to the position. (c) Modeled correlation trading positions. For purposes of calculating the comprehensive risk measure for modeled correlation trading positions under either paragraph (a)(2)(i) or (a)(2)(ii) of Sec. 217.209, the total specific risk add-on is the greater of: (1) The sum of the Board-regulated institution's specific risk add- ons for each net long correlation trading position calculated under this section; or (2) The sum of the Board-regulated institution's specific risk add- ons for each net short correlation trading position calculated under this section. (d) Non-modeled securitization positions. For securitization positions that are not correlation trading positions and for securitizations that are correlation trading positions not modeled under Sec. 217.209, the total specific risk add-on is the greater of: (1) The sum of the Board-regulated institution's specific risk add- ons for each net long securitization position calculated under this section; or (2) The sum of the Board-regulated institution's specific risk add- ons for each net short securitization position calculated under this section. (e) Equity positions. The total specific risk add-on for a portfolio of equity positions is the sum of the specific risk add-ons of the individual equity positions, as computed under this section. To determine the specific risk add-on of individual equity positions, a Board-regulated institution must multiply the absolute value of the current fair value of each net long or net short equity position by the appropriate specific risk-weighting factor as determined under this paragraph (e): [[Page 613]] (1) The Board-regulated institution must multiply the absolute value of the current fair value of each net long or net short equity position by a specific risk-weighting factor of 8.0 percent. For equity positions that are index contracts comprising a well-diversified portfolio of equity instruments, the absolute value of the current fair value of each net long or net short position is multiplied by a specific risk- weighting factor of 2.0 percent.\34\ --------------------------------------------------------------------------- \34\ A portfolio is well-diversified if it contains a large number of individual equity positions, with no single position representing a substantial portion of the portfolio's total fair value. --------------------------------------------------------------------------- (2) For equity positions arising from the following futures-related arbitrage strategies, a Board-regulated institution may apply a 2.0 percent specific risk-weighting factor to one side (long or short) of each position with the opposite side exempt from an additional capital requirement: (i) Long and short positions in exactly the same index at different dates or in different market centers; or (ii) Long and short positions in index contracts at the same date in different, but similar indices. (3) For futures contracts on main indices that are matched by offsetting positions in a basket of stocks comprising the index, a Board-regulated institution may apply a 2.0 percent specific risk- weighting factor to the futures and stock basket positions (long and short), provided that such trades are deliberately entered into and separately controlled, and that the basket of stocks is comprised of stocks representing at least 90.0 percent of the capitalization of the index. A main index refers to the Standard & Poor's 500 Index, the FTSE All-World Index, and any other index for which the Board-regulated institution can demonstrate to the satisfaction of the Board that the equities represented in the index have liquidity, depth of market, and size of bid-ask spreads comparable to equities in the Standard & Poor's 500 Index and FTSE All-World Index. (f) Due diligence requirements for securitization positions. (1) A Board-regulated institution must demonstrate to the satisfaction of the Board a comprehensive understanding of the features of a securitization position that would materially affect the performance of the position by conducting and documenting the analysis set forth in paragraph (f)(2) of this section. The Board-regulated institution's analysis must be commensurate with the complexity of the securitization position and the materiality of the position in relation to capital. (2) A Board-regulated institution must demonstrate its comprehensive understanding for each securitization position by: (i) Conducting an analysis of the risk characteristics of a securitization position prior to acquiring the position and document such analysis within three business days after acquiring position, considering: (A) Structural features of the securitization that would materially impact the performance of the position, for example, the contractual cash flow waterfall, waterfall-related triggers, credit enhancements, liquidity enhancements, fair value triggers, the performance of organizations that service the position, and deal-specific definitions of default; (B) Relevant information regarding the performance of the underlying credit exposure(s), for example, the percentage of loans 30, 60, and 90 days past due; default rates; prepayment rates; loans in foreclosure; property types; occupancy; average credit score or other measures of creditworthiness; average loan-to-value ratio; and industry and geographic diversification data on the underlying exposure(s); (C) Relevant market data of the securitization, for example, bid-ask spreads, most recent sales price and historical price volatility, trading volume, implied market rating, and size, depth and concentration level of the market for the securitization; and (D) For resecuritization positions, performance information on the underlying securitization exposures, for example, the issuer name and credit quality, and the characteristics and performance of the exposures underlying the securitization exposures. (ii) On an on-going basis (no less frequently than quarterly), evaluating, [[Page 614]] reviewing, and updating as appropriate the analysis required under paragraph (f)(1) of this section for each securitization position. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 78295, Dec. 30, 2014; 84 FR 35269, July 22, 2019; 85 FR 4419, Jan. 24, 2020] Sec. 217.211 Simplified supervisory formula approach (SSFA). (a) General requirements. To use the SSFA to determine the specific risk-weighting factor for a securitization position, a Board-regulated institution must have data that enables it to assign accurately the parameters described in paragraph (b) of this section. Data used to assign the parameters described in paragraph (b) of this section must be the most currently available data; if the contracts governing the underlying exposures of the securitization require payments on a monthly or quarterly basis, the data used to assign the parameters described in paragraph (b) of this section must be no more than 91 calendar days old. A Board-regulated institution that does not have the appropriate data to assign the parameters described in paragraph (b) of this section must assign a specific risk-weighting factor of 100 percent to the position. (b) SSFA parameters. To calculate the specific risk-weighting factor for a securitization position using the SSFA, a Board-regulated institution must have accurate information on the five inputs to the SSFA calculation described in paragraphs (b)(1) through (b)(5) of this section. (1) KG is the weighted-average (with unpaid principal used as the weight for each exposure) total capital requirement of the underlying exposures calculated using subpart D. KG is expressed as a decimal value between zero and one (that is, an average risk weight of 100 percent represents a value of KG equal to 0.08). (2) Parameter W is expressed as a decimal value between zero and one. Parameter W is the ratio of the sum of the dollar amounts of any underlying exposures of the securitization that meet any of the criteria as set forth in paragraphs (b)(2)(i) through (vi) of this section to the balance, measured in dollars, of underlying exposures: (i) Ninety days or more past due; (ii) Subject to a bankruptcy or insolvency proceeding; (iii) In the process of foreclosure; (iv) Held as real estate owned; (v) Has contractually deferred payments for 90 days or more, other than principal or interest payments deferred on: (A) Federally-guaranteed student loans, in accordance with the terms of those guarantee programs; or (B) Consumer loans, including non-federally-guaranteed student loans, provided that such payments are deferred pursuant to provisions included in the contract at the time funds are disbursed that provide for period(s) of deferral that are not initiated based on changes in the creditworthiness of the borrower; or (vi) Is in default. (3) Parameter A is the attachment point for the position, which represents the threshold at which credit losses will first be allocated to the position. Except as provided in Sec. 217.210(b)(2)(vii)(D) for n\th\-to-default credit derivatives, parameter A equals the ratio of the current dollar amount of underlying exposures that are subordinated to the position of the Board-regulated institution to the current dollar amount of underlying exposures. Any reserve account funded by the accumulated cash flows from the underlying exposures that is subordinated to the position that contains the Board-regulated institution's securitization exposure may be included in the calculation of parameter A to the extent that cash is present in the account. Parameter A is expressed as a decimal value between zero and one. (4) Parameter D is the detachment point for the position, which represents the threshold at which credit losses of principal allocated to the position would result in a total loss of principal. Except as provided in Sec. 217.210(b)(2)(vii)(D) for n\th\-to-default credit derivatives, parameter D equals parameter A plus the ratio of the current dollar amount of the securitization positions that are pari passu with the position (that is, have equal seniority with respect to credit risk) to the current dollar amount of the underlying exposures. Parameter D [[Page 615]] is expressed as a decimal value between zero and one. (5) A supervisory calibration parameter, p, is equal to 0.5 for securitization positions that are not resecuritization positions and equal to 1.5 for resecuritization positions. (c) Mechanics of the SSFA. KG and W are used to calculate KA, the augmented value of KG, which reflects the observed credit quality of the underlying exposures. KA is defined in paragraph (d) of this section. The values of parameters A and D, relative to KA determine the specific risk-weighting factor assigned to a position as described in this paragraph (c) and paragraph (d) of this section. The specific risk-weighting factor assigned to a securitization position, or portion of a position, as appropriate, is the larger of the specific risk-weighting factor determined in accordance with this paragraph (c), paragraph (d) of this section, and a specific risk-weighting factor of 1.6 percent. (1) When the detachment point, parameter D, for a securitization position is less than or equal to KA, the position must be assigned a specific risk-weighting factor of 100 percent. (2) When the attachment point, parameter A, for a securitization position is greater than or equal to KA, the Board-regulated institution must calculate the specific risk-weighting factor in accordance with paragraph (d) of this section. (3) When A is less than KA and D is greater than KA, the specific risk-weighting factor is a weighted-average of 1.00 and KSSFA calculated under paragraphs (c)(3)(i) and (c)(3)(ii) of this section. For the purpose of this calculation: (i) The weight assigned to 1.00 equals [[Page 616]] [GRAPHIC] [TIFF OMITTED] TR11OC13.057 Sec. 217.212 Market risk disclosures. (a) Scope. A Board-regulated institution must comply with this section unless it is a consolidated subsidiary of a bank holding company or a depository institution that is subject to these requirements or of a non-U.S. banking organization that is subject to comparable public disclosure requirements in its home jurisdiction. A Board-regulated institution must make timely public disclosures each calendar quarter. If a significant change occurs, such that the most recent reporting amounts are no longer reflective of the Board-regulated institution's capital adequacy and risk profile, then a brief discussion of this change and its likely impact must be provided as soon as practicable thereafter. Qualitative disclosures that typically do not change each quarter may be disclosed annually, provided any significant changes are disclosed in the interim. If a Board-regulated institution believes that disclosure of specific commercial or financial information would prejudice seriously its position by making public certain information that is either proprietary or confidential in nature, the Board- regulated institution is not required to disclose these specific items, but must disclose more general information about the subject matter of the requirement, together with the fact that, and the reason why, the specific items of information have not been disclosed. The Board- regulated institution's management may provide all of the disclosures required by this section [[Page 617]] in one place on the Board-regulated institution's public Web site or may provide the disclosures in more than one public financial report or other regulatory reports, provided that the Board-regulated institution publicly provides a summary table specifically indicating the location(s) of all such disclosures. (b) Disclosure policy. The Board-regulated institution must have a formal disclosure policy approved by the board of directors that addresses the Board-regulated institution's approach for determining its market risk disclosures. The policy must address the associated internal controls and disclosure controls and procedures. The board of directors and senior management must ensure that appropriate verification of the disclosures takes place and that effective internal controls and disclosure controls and procedures are maintained. One or more senior officers of the Board-regulated institution must attest that the disclosures meet the requirements of this subpart, and the board of directors and senior management are responsible for establishing and maintaining an effective internal control structure over financial reporting, including the disclosures required by this section. (c) Quantitative disclosures. (1) For each material portfolio of covered positions, the Board-regulated institution must provide timely public disclosures of the following information at least quarterly: (i) The high, low, and mean VaR-based measures over the reporting period and the VaR-based measure at period-end; (ii) The high, low, and mean stressed VaR-based measures over the reporting period and the stressed VaR-based measure at period-end; (iii) The high, low, and mean incremental risk capital requirements over the reporting period and the incremental risk capital requirement at period-end; (iv) The high, low, and mean comprehensive risk capital requirements over the reporting period and the comprehensive risk capital requirement at period-end, with the period-end requirement broken down into appropriate risk classifications (for example, default risk, migration risk, correlation risk); (v) Separate measures for interest rate risk, credit spread risk, equity price risk, foreign exchange risk, and commodity price risk used to calculate the VaR-based measure; and (vi) A comparison of VaR-based estimates with actual gains or losses experienced by the Board-regulated institution, with an analysis of important outliers. (2) In addition, the Board-regulated institution must disclose publicly the following information at least quarterly: (i) The aggregate amount of on-balance sheet and off-balance sheet securitization positions by exposure type; and (ii) The aggregate amount of correlation trading positions. (d) Qualitative disclosures. For each material portfolio of covered positions, the Board-regulated institution must provide timely public disclosures of the following information at least annually after the end of the fourth calendar quarter, or more frequently in the event of material changes for each portfolio: (1) The composition of material portfolios of covered positions; (2) The Board-regulated institution's valuation policies, procedures, and methodologies for covered positions including, for securitization positions, the methods and key assumptions used for valuing such positions, any significant changes since the last reporting period, and the impact of such change; (3) The characteristics of the internal models used for purposes of this subpart. For the incremental risk capital requirement and the comprehensive risk capital requirement, this must include: (i) The approach used by the Board-regulated institution to determine liquidity horizons; (ii) The methodologies used to achieve a capital assessment that is consistent with the required soundness standard; and (iii) The specific approaches used in the validation of these models; (4) A description of the approaches used for validating and evaluating the [[Page 618]] accuracy of internal models and modeling processes for purposes of this subpart; (5) For each market risk category (that is, interest rate risk, credit spread risk, equity price risk, foreign exchange risk, and commodity price risk), a description of the stress tests applied to the positions subject to the factor; (6) The results of the comparison of the Board-regulated institution's internal estimates for purposes of this subpart with actual outcomes during a sample period not used in model development; (7) The soundness standard on which the Board-regulated institution's internal capital adequacy assessment under this subpart is based, including a description of the methodologies used to achieve a capital adequacy assessment that is consistent with the soundness standard; (8) A description of the Board-regulated institution's processes for monitoring changes in the credit and market risk of securitization positions, including how those processes differ for resecuritization positions; and (9) A description of the Board-regulated institution's policy governing the use of credit risk mitigation to mitigate the risks of securitization and resecuritization positions. Sec. Sec. 217.213-217.299 [Reserved] Subpart G_Transition Provisions Sec. 217.300 Transitions. (a) Capital conservation and countercyclical capital buffer. (1) From January 1, 2014 through December 31, 2015, a Board-regulated institution is not subject to limits on distributions and discretionary bonus payments under Sec. 217.11 of subpart B of this part notwithstanding the amount of its capital conservation buffer or any applicable countercyclical capital buffer amount. (2) Notwithstanding Sec. 217.11, beginning January 1, 2016 through December 31, 2018 a Board-regulated institution's maximum payout ratio shall be determined as set forth in Table 1 to Sec. 217.300. Table 1 to Sec. 217.300 ------------------------------------------------------------------------ Maximum payout ratio (as a Transition period Capital conservation buffer percentage of eligible retained income) ------------------------------------------------------------------------ Calendar year 2016.... Greater than 0.625 percent No payout ratio plus 25 percent of any limitation applicable countercyclical applies under capital buffer amount and this section. 25 percent of any applicable GSIB surcharge. Less than or equal to 0.625 60 percent. percent plus 25 percent of any applicable countercyclical capital buffer amount and 25 percent of any applicable GSIB surcharge, and greater than 0.469 percent plus 17.25 percent of any applicable countercyclical capital buffer amount and 17.25 percent of any applicable GSIB surcharge. Less than or equal to 0.469 40 percent. percent plus 17.25 percent of any applicable countercyclical capital buffer amount and 17.25 percent of any applicable GSIB surcharge, and greater than 0.313 percent plus 12.5 percent of any applicable countercyclical capital buffer amount and 12.5 percent of any applicable GSIB surcharge. Less than or equal to 0.313 20 percent. percent plus 12.5 percent of any applicable countercyclical capital buffer amount and 12.5 percent of any applicable GSIB surcharge, and greater than 0.156 percent plus 6.25 percent of any applicable countercyclical capital buffer amount and 6.25 percent of any applicable GSIB surcharge. Less than or equal to 0.156 0 percent. percent plus 6.25 percent of any applicable countercyclical capital buffer amount and 6.25 percent of any applicable GSIB surcharge. Calendar year 2017.... Greater than 1.25 percent No payout ratio plus 50 percent of any limitation applicable countercyclical applies under capital buffer amount and this section. 50 percent of any applicable GSIB surcharge. Less than or equal to 1.25 60 percent. percent plus 50 percent of any applicable countercyclical capital buffer amount and 50 percent of any applicable GSIB surcharge, and greater than 0.938 percent plus 37.5 percent of any applicable countercyclical capital buffer amount and 37.5 percent of any applicable GSIB surcharge. [[Page 619]] Less than or equal to 0.938 40 percent. percent plus 37.5 percent of any applicable countercyclical capital buffer amount and 37.5 percent of any applicable GSIB surcharge, and greater than 0.625 percent plus 25 percent of any applicable countercyclical capital buffer amount and 25 percent of any applicable GSIB surcharge. Less than or equal to 0.625 20 percent. percent plus 25 percent of any applicable countercyclical capital buffer amount and 25 percent of any applicable GSIB surcharge, and greater than 0.313 percent plus 12.5 percent of any applicable countercyclical capital buffer amount and 12.5 percent of any applicable GSIB surcharge. Less than or equal to 0.313 0 percent. percent plus 12.5 percent of any applicable countercyclical capital buffer amount and 12.5 percent of any applicable GSIB surcharge. Calendar year 2018.... Greater than 1.875 percent No payout ratio plus 75 percent of any limitation applicable countercyclical applies under capital buffer amount and this section. 75 percent of any applicable GSIB surcharge. Less than or equal to 1.875 60 percent. percent plus 75 percent of any applicable countercyclical capital buffer amount and 75 percent of any applicable GSIB surcharge, and greater than 1.406 percent plus 56.25 percent of any applicable countercyclical capital buffer amount and 56.25 percent of any applicable GSIB surcharge. Less than or equal to 1.406 40 percent percent plus 56.25 percent of any applicable countercyclical capital buffer amount and 56.25 percent of any applicable GSIB surcharge, and greater than 0.938 percent plus 37.5 percent of any applicable countercyclical capital buffer amount and 37.5 percent of any applicable GSIB surcharge. Less than or equal to 0.938 20 percent. percent plus 37.5 percent of any applicable countercyclical capital buffer amount and 37.5 percent of any applicable GSIB surcharge, and greater than 0.469 percent plus 18.75 percent of any applicable countercyclical capital buffer amount and 18.75 percent of any applicable GSIB surcharge. Less than or equal to 0.469 0 percent. percent plus 18.75 percent of any applicable countercyclical capital buffer amount and 18.75 percent of any applicable GSIB surcharge. ------------------------------------------------------------------------ (b) [Reserved] (c) Non-qualifying capital instruments--(1) Depository institution holding companies with total consolidated assets of more than $15 billion as of December 31, 2009 that were not mutual holding companies prior to May 19, 2010. The transition provisions in this paragraph (c)(1) apply to debt or equity instruments that do not meet the criteria for additional tier 1 or tier 2 capital instruments in Sec. 217.20, but that were issued and included in tier 1 or tier 2 capital, respectively (or, in the case of a savings and loan holding company, would have been included in tier 1 or tier 2 capital if the savings and loan holding company had been subject to the general risk-based capital rules under 12 CFR part 225, appendix A), prior to May 19, 2010 (non-qualifying capital instruments), and that were issued by a depository institution holding company with total consolidated assets greater than or equal to $15 billion as of December 31, 2009 that was not a mutual holding company prior to May 19, 2010 (2010 MHC) (depository institution holding company of $15 billion or more). (i) A depository institution holding company of $15 billion or more may include in tier 1 and tier 2 capital non-qualifying capital instruments up to the applicable percentage set forth in Table 8 to Sec. 217.300 of the aggregate outstanding principal amounts of non- qualifying tier 1 and tier 2 capital instruments, respectively, that are outstanding as of January 1, 2014, beginning January 1, 2014, for a depository institution holding company of $15 billion or more that is an advanced approaches Board-regulated institution that is not a savings and loan holding company, and beginning January 1, 2015, for all other depository institution holding companies of $15 billion or more. [[Page 620]] (ii) A depository institution holding company of $15 billion or more must apply the applicable percentages set forth in Table 8 to Sec. 217.300 separately to the aggregate amounts of its tier 1 and tier 2 non-qualifying capital instruments. (iii) The amount of non-qualifying capital instruments that must be excluded from additional tier 1 capital in accordance with this section may be included in tier 2 capital without limitation, provided the instruments meet the criteria for tier 2 capital set forth in Sec. 217.20(d). (iv) Non-qualifying capital instruments that do not meet the criteria for tier 2 capital set forth in Sec. 217.20(d) may be included in tier 2 capital as follows: (A) A depository institution holding company of $15 billion or more that is not an advanced approaches Board-regulated institution may include non-qualifying capital instruments that have been phased-out of tier 1 capital in tier 2 capital, and (B) During calendar years 2014 and 2015, a depository institution holding company of $15 billion or more that is an advanced approaches Board-regulated institution may include non-qualifying capital instruments in tier 2 capital that have been phased out of tier 1 capital in accordance with Table 8 to Sec. 217.300. Beginning January 1, 2016, a depository institution holding company of $15 billion or more that is an advanced approaches Board-regulated institution may include non-qualifying capital instruments in tier 2 capital that have been phased out of tier 1 capital in accordance with Table 8, up to the applicable percentages set forth in Table 9 to Sec. 217.300. (2) Mergers and acquisitions. (i) A depository institution holding company of $15 billion or more that acquires after December 31, 2013 either a depository institution holding company with total consolidated assets of less than $15 billion as of December 31, 2009 (depository institution holding company under $15 billion) or a depository institution holding company that is a 2010 MHC, may include in regulatory capital the non-qualifying capital instruments issued by the acquired organization up to the applicable percentages set forth in Table 8 to Sec. 217.300. (ii) If a depository institution holding company under $15 billion acquires after December 31, 2013 a depository institution holding company under $15 billion or a 2010 MHC, and the resulting organization has total consolidated assets of $15 billion or more as reported on the resulting organization's FR Y-9C for the period in which the transaction occurred, the resulting organization may include in regulatory capital non-qualifying instruments of the resulting organization up to the applicable percentages set forth in Table 8 to Sec. 217.300. Table 8 to Sec. 217.300 ------------------------------------------------------------------------ Percentage of non- qualifying capital instruments includable in additional tier 1 or Transition period (calendar year) tier 2 capital for a depository institution holding company of $15 billion or more ------------------------------------------------------------------------ Calendar year 2014............................ 50 Calendar year 2015............................ 25 Calendar year 2016 and thereafter............. 0 ------------------------------------------------------------------------ (3) Depository institution holding companies under $15 billion and 2010 MHCs. (i) Non-qualifying capital instruments issued by depository institution holding companies under $15 billion and 2010 MHCs prior to May 19, 2010, may be included in additional tier 1 or tier 2 capital if the instrument was included in tier 1 or tier 2 capital, respectively, as of January 1, 2014. (ii) Non-qualifying capital instruments includable in tier 1 capital are subject to a limit of 25 percent of tier 1 capital elements, excluding any non-qualifying capital instruments and after applying all regulatory capital deductions and adjustments to tier 1 capital. (iii) Non-qualifying capital instruments that are not included in tier 1 as a result of the limitation in paragraph (c)(3)(ii) of this section are includable in tier 2 capital. (4) Depository institutions. (i) Beginning on January 1, 2014, a depository institution that is an advanced approaches Board-regulated institution, and beginning on January 1, 2015, all [[Page 621]] other depository institutions, may include in regulatory capital debt or equity instruments issued prior to September 12, 2010 that do not meet the criteria for additional tier 1 or tier 2 capital instruments in Sec. 217.20 but that were included in tier 1 or tier 2 capital respectively as of September 12, 2010 (non-qualifying capital instruments issued prior to September 12, 2010) up to the percentage of the outstanding principal amount of such non-qualifying capital instruments as of January 1, 2014 in accordance with Table 9 to Sec. 217.300. (ii) Table 9 to Sec. 217.300 applies separately to tier 1 and tier 2 non-qualifying capital instruments. (iii) The amount of non-qualifying capital instruments that cannot be included in additional tier 1 capital under this section may be included in tier 2 capital without limitation, provided that the instruments meet the criteria for tier 2 capital instruments under Sec. 217.20(d). Table 9 to Sec. 217.300 ---------------------------------------------------------------------------------------------------------------- Percentage of non-qualifying capital Transition period (calendar year) instruments includable in additional tier 1 or tier 2 capital --------------------------------------------------------------------------------------------------------------- Calendar year 2014................................................ 80 Calendar year 2015................................................ 70 Calendar year 2016................................................ 60 Calendar year 2017................................................ 50 Calendar year 2018................................................ 40 Calendar year 2019................................................ 30 Calendar year 2020................................................ 20 Calendar year 2021................................................ 10 Calendar year 2022 and thereafter................................. 0 ---------------------------------------------------------------------------------------------------------------- (d) [Reserved] (e) Prompt corrective action. For purposes of 12 CFR part 208, subpart D, a Board-regulated institution must calculate its capital measures and tangible equity ratio in accordance with the transition provisions in this section. (f) Until July 21, 2015, this part will not apply to any bank holding company subsidiary of a foreign banking organization that is currently relying on Supervision and Regulation Letter SR 01-01 issued by the Board (as in effect on May 19, 2010). (g) A Board-regulated institution that is not an advanced approaches Board-regulated institution may apply the treatment under Sec. Sec. 217.21 and 217.22(c)(2), (5), (6), and (d)(2) applicable to an advanced approaches Board-regulated institution during the calendar quarter beginning January 1, 2020. During the quarter beginning January 1, 2020, a Board-regulated institution that makes such an election must deduct 80 percent of the amount otherwise required to be deducted under Sec. 217.22(d)(2) and must apply a 100 percent risk weight to assets not deducted under Sec. 217.22(d)(2). In addition, during the quarter beginning January 1, 2020, a Board-regulated institution that makes such an election must include in its regulatory capital 20 percent of any minority interest that exceeds the amount of minority interest includable in regulatory capital under Sec. 217.21 as it applies to an advanced approaches Board-regulated institution. A Board-regulated institution that is not an advanced approaches Board-regulated institution must apply the treatment under Sec. Sec. 217.21 and 217.22 applicable to a Board-regulated institution that is not an advanced approaches Board-regulated institution beginning April 1, 2020, and thereafter. (h) SA-CCR. An advanced approaches Board-regulated institution may use CEM rather than SA-CCR for purposes of Sec. Sec. 217.34(a) and 217.132(c) until January 1, 2022. A Board-regulated institution must provide prior notice to the Board if it decides to begin using SA-CCR before January 1, 2022. On January 1, 2022, and thereafter, an advanced approaches Board-regulated institution must use SA-CCR for purposes of Sec. Sec. 217.34(a), 217.132(c), and 217.135(d). Once an advanced approaches Board-regulated institution has begun to use [[Page 622]] SA-CCR, the advanced approaches Board-regulated institution may not change to use CEM. (i) Default fund contributions. Prior to January 1, 2022, a Board- regulated institution that calculates the exposure amounts of its derivative contracts under the standardized approach for counterparty credit risk in Sec. 217.132(c) may calculate the risk-weighted asset amount for a default fund contribution to a QCCP under either method 1 under Sec. 217.35(d)(3)(i) or method 2 under Sec. 217.35(d)(3)(ii), rather than under Sec. 217.133(d). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62290, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015; 80 FR 49103, Aug. 14, 2015; 82 FR 55316, Nov. 21, 2017; 83 FR 705, Jan. 8, 2018; 84 FR 35269, July 22, 2019; 84 FR 61807, Nov. 13, 2019; 85 FR 4429, Jan. 24, 2020] Sec. 217.301 Current expected credit losses (CECL) transition. (a) CECL transition provision. (1) Except as provided in paragraph (d) of this section, a Board-regulated institution may elect to use a CECL transition provision pursuant to this section only if the Board- regulated institution records a reduction in retained earnings due to the adoption of CECL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL. (2) Except as provided in paragraph (d) of this section, a Board- regulated institution that elects to use the CECL transition provision must elect to use the CECL transition provision in the first Call Report or FR Y-9C that includes CECL filed by the Board-regulated institution after it adopts CECL. (3) A Board-regulated institution that does not elect to use the CECL transition provision as of the first Call Report or FR Y-9C that includes CECL filed as described in paragraph (a)(2) of this section may not elect to use the CECL transition provision in subsequent reporting periods. (b) Definitions. For purposes of this section, the following definitions apply: (1) Transition period means the three-year period beginning the first day of the fiscal year in which a Board-regulated institution adopts CECL and reflects CECL in its first Call Report or FR Y-9C filed after that date; or, for the 2020 CECL transition provision under paragraph (d) of this section, the five-year period beginning on the earlier of the date a Board-regulated institution was required to adopt CECL for accounting purposes under GAAP (as in effect January 1, 2020), or the first day of the fiscal year that begins during the 2020 calendar year in which the Board-regulated institution files regulatory reports that include CECL. (2) CECL transitional amount means the difference net of any DTAs, in the amount of a Board-regulated institution's retained earnings as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL from the amount of the Board-regulated institution's retained earnings as of the closing of the fiscal year-end immediately prior to the Board-regulated institution's adoption of CECL. (3) DTA transitional amount means the difference in the amount of a Board-regulated institution's DTAs arising from temporary differences as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL from the amount of the Board-regulated institution's DTAs arising from temporary differences as of the closing of the fiscal year-end immediately prior to the Board-regulated institution's adoption of CECL. (4) AACL transitional amount means the difference in the amount of a Board-regulated institution's AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL and the amount of the Board-regulated institution's ALLL as of the closing of the fiscal year-end immediately prior to the Board-regulated institution's adoption of CECL. (5) Eligible credit reserves transitional amount means the difference in the amount of a Board-regulated institution's eligible credit reserves as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL from the amount of the Board- regulated institution's eligible credit reserves as of the closing of the fiscal year-end immediately prior to the Board-regulated institution's adoption of CECL. [[Page 623]] (c) Calculation of the three-year CECL transition provision. (1) For purposes of the election described in paragraph (a)(1) of this section and except as provided in paragraph (d) of this section, a Board- regulated institution must make the following adjustments in its calculation of regulatory capital ratios: (i) Increase retained earnings by seventy-five percent of its CECL transitional amount during the first year of the transition period, increase retained earnings by fifty percent of its CECL transitional amount during the second year of the transition period, and increase retained earnings by twenty-five percent of its CECL transitional amount during the third year of the transition period; (ii) Decrease amounts of DTAs arising from temporary differences by seventy-five percent of its DTA transitional amount during the first year of the transition period, decrease amounts of DTAs arising from temporary differences by fifty percent of its DTA transitional amount during the second year of the transition period, and decrease amounts of DTAs arising from temporary differences by twenty-five percent of its DTA transitional amount during the third year of the transition period; (iii) Decrease amounts of AACL by seventy-five percent of its AACL transitional amount during the first year of the transition period, decrease amounts of AACL by fifty percent of its AACL transitional amount during the second year of the transition period, and decrease amounts of AACL by twenty-five percent of its AACL transitional amount during the third year of the transition period; and (iv) Increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by seventy- five percent of its CECL transitional amount during the first year of the transition period, increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by fifty percent of its CECL transitional amount during the second year of the transition period, and increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by twenty-five percent of its CECL transitional amount during the third year of the transition period. (2) For purposes of the election described in paragraph (a)(1) of this section, an advanced approaches or Category III Board-regulated institution must make the following additional adjustments to its calculation of its applicable regulatory capital ratios: (i) Increase total leverage exposure for purposes of the supplementary leverage ratio by seventy-five percent of its CECL transitional amount during the first year of the transition period, increase total leverage exposure for purposes of the supplementary leverage ratio by fifty percent of its CECL transitional amount during the second year of the transition period, and increase total leverage exposure for purposes of the supplementary leverage ratio by twenty-five percent of its CECL transitional amount during the third year of the transition period; and (ii) An advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to Sec. 217.121(d) must decrease amounts of eligible credit reserves by seventy-five percent of its eligible credit reserves transitional amount during the first year of the transition period, decrease amounts of eligible credit reserves by fifty percent of its eligible credit reserves transitional amount during the second year of the transition provision, and decrease amounts of eligible credit reserves by twenty-five percent of its eligible credit reserves transitional amount during the third year of the transition period. (d) 2020 CECL transition provision. Notwithstanding paragraph (a) of this section, a Board-regulated institution that adopts CECL for accounting purposes under GAAP as of the first day of a fiscal year that begins during the 2020 calendar year may elect to use the transitional amounts and modified transitional amounts in paragraph (d)(1) of this section with the 2020 CECL transition provision calculation in paragraph (d)(2) of this section to adjust its calculation of regulatory capital ratios during each quarter of the transition period in which a Board- [[Page 624]] regulated institution uses CECL for purposes of its Call Report or FR Y- 9C. A Board-regulated institution may use the transition provision in this paragraph (d) if it has a positive modified CECL transitional amount during any quarter ending in 2020, and makes the election in the Call Report or FR Y-9C filed for the same quarter. A Board-regulated institution that does not calculate a positive modified CECL transitional amount in any quarter is not required to apply the adjustments in its calculation of regulatory capital ratios in paragraph (d)(2) of this section in that quarter. (1) Definitions. For purposes of the 2020 CECL transition provision calculation in paragraph (d)(2) of this section, the following definitions apply: (i) Modified CECL transitional amount means: (A) During the first two years of the transition period, the difference between AACL as reported in the most recent Call Report or FR Y-9C, and the AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL, multiplied by 0.25, plus the CECL transitional amount; and (B) During the last three years of the transition period, the difference between AACL as reported in the Call Report or Y-9C at the end of the second year of the transition period and the AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL, multiplied by 0.25, plus the CECL transitional amount. (ii) Modified AACL transitional amount means: (A) During the first two years of the transition period, the difference between AACL as reported in the most recent Call Report or FR Y-9C, and the AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL, multiplied by 0.25, plus the AACL transitional amount; and (B) During the last three years of the transition period, the difference between AACL as reported in the Call Report or FR Y-9C at the end of the second year of the transition period and the AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL, multiplied by 0.25, plus the AACL transitional amount. (2) Calculation of 2020 CECL transition provision. (i) A Board- regulated institution that has elected the 2020 CECL transition provision described in this paragraph (d) may make the following adjustments in its calculation of regulatory capital ratios: (A) Increase retained earnings by one-hundred percent of its modified CECL transitional amount during the first year of the transition period, increase retained earnings by one hundred percent of its modified CECL transitional amount during the second year of the transition period, increase retained earnings by seventy-five percent of its modified CECL transitional amount during the third year of the transition period, increase retained earnings by fifty percent of its modified CECL transitional amount during the fourth year of the transition period, and increase retained earnings by twenty-five percent of its modified CECL transitional amount during the fifth year of the transition period; (B) Decrease amounts of DTAs arising from temporary differences by one-hundred percent of its DTA transitional amount during the first year of the transition period, decrease amounts of DTAs arising from temporary differences by one hundred percent of its DTA transitional amount during the second year of the transition period, decrease amounts of DTAs arising from temporary differences by seventy-five percent of its DTA transitional amount during the third year of the transition period, decrease amounts of DTAs arising from temporary differences by fifty percent of its DTA transitional amount during the fourth year of the transition period, and decrease amounts of DTAs arising from temporary differences by twenty-five percent of its DTA transitional amount during the fifth year of the transition period; (C) Decrease amounts of AACL by one-hundred percent of its modified AACL transitional amount during the first year of the transition period, decrease amounts of AACL by one hundred percent of its modified AACL transitional amount during the second [[Page 625]] year of the transition period, decrease amounts of AACL by seventy-five percent of its modified AACL transitional amount during the third year of the transition period, decrease amounts of AACL by fifty percent of its AACL transitional amount during the fourth year of the transition period, and decrease amounts of AACL by twenty-five percent of its AACL transitional amount during the fifth year of the transition period; and (D) Increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by one-hundred percent of its modified CECL transitional amount during the first year of the transition period, increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by one hundred percent of its modified CECL transitional amount during the second year of the transition period, increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by seventy-five percent of its modified CECL transitional amount during the third year of the transition period, increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by fifty percent of its modified CECL transitional amount during the fourth year of the transition period, and increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by twenty-five percent of its modified CECL transitional amount during the fifth year of the transition period. (ii) An advanced approaches or Category III Board-regulated institution that has elected the 2020 CECL transition provision described in this paragraph (d) may make the following additional adjustments to its calculation of its applicable regulatory capital ratios: (A) Increase total leverage exposure for purposes of the supplementary leverage ratio by one-hundred percent of its modified CECL transitional amount during the first year of the transition period, increase total leverage exposure for purposes of the supplementary leverage ratio by one hundred percent of its modified CECL transitional amount during the second year of the transition period, increase total leverage exposure for purposes of the supplementary leverage ratio by seventy-five percent of its modified CECL transitional amount during the third year of the transition period, increase total leverage exposure for purposes of the supplementary leverage ratio by fifty percent of its modified CECL transitional amount during the fourth year of the transition period, and increase total leverage exposure for purposes of the supplementary leverage ratio by twenty-five percent of its modified CECL transitional amount during the fifth year of the transition period; and (B) An advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to Sec. 217.121(d) must decrease amounts of eligible credit reserves by one-hundred percent of its eligible credit reserves transitional amount during the first year of the transition period, decrease amounts of eligible credit reserves by one hundred percent of its eligible credit reserves transitional amount during the second year of the transition period, decrease amounts of eligible credit reserves by seventy-five percent of its eligible credit reserves transitional amount during the third year of the transition period, decrease amounts of eligible credit reserves by fifty percent of its eligible credit reserves transitional amount during the fourth year of the transition period, and decrease amounts of eligible credit reserves by twenty-five percent of its eligible credit reserves transitional amount during the fifth year of the transition period. (e) Eligible credit reserves shortfall. An advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to Sec. 217.121(d), whose amount of expected credit loss exceeded its eligible credit reserves immediately prior to the adoption of CECL, and that has an increase in common equity tier 1 capital as of the beginning of the fiscal year in which it adopts CECL after including the first year portion of the CECL transitional amount (or modified [[Page 626]] CECL transitional amount) must decrease its CECL transitional amount used in paragraph (c) of this section (or modified CECL transitional amount used in paragraph (d) of this section) by the full amount of its DTA transitional amount. (f) Business combinations. Notwithstanding any other requirement in this section, for purposes of this paragraph (f), in the event of a business combination involving a Board-regulated institution where one or both Board-regulated institutions have elected the treatment described in this section: (1) If the acquirer Board-regulated institution (as determined under GAAP) elected the treatment described in this section, the acquirer Board-regulated institution must continue to use the transitional amounts (unaffected by the business combination) that it calculated as of the date that it adopted CECL through the end of its transition period. (2) If the acquired company (as determined under GAAP) elected the treatment described in this section, any transitional amount of the acquired company does not transfer to the resulting Board-regulated institution. [Reg. Q, 85 FR 61589, Sept. 30, 2020] Sec. 217.302 Exposures Related the Money Market Mutual Fund Liquidity Facility. Notwithstanding any other section of this part, a Board-regulated institution may exclude exposures acquired pursuant to a non-recourse loan that is provided as part of the Money Market Mutual Fund Liquidity Facility, announced by the Board on March 18, 2020, from total leverage exposure, average total consolidated assets, advanced approaches total risk-weighted assets, and standardized total risk-weighted assets, as applicable. For the purpose of this provision, a board-regulated institution's liability under the facility must be reduced by the purchase price of the assets acquired with funds advanced from the facility. [Reg. Q, 85 FR 16236, Mar. 23, 2020] Sec. 217.303 Temporary exclusions from total leverage exposure. (a) In general. Subject to paragraphs (b) through (g) of this section and notwithstanding any other requirement in this part, when calculating on-balance sheet assets as of each day of a reporting quarter for purposes of determining the Board-regulated institution's total leverage exposure under Sec. 217.10(c), a Board-regulated institution that is a depository institution holding company or a U.S. intermediate holding company must, and a Board-regulated institution that is a state member bank may, exclude the balance sheet carrying value of the following items: (1) U.S. Treasury securities; and (2) Funds on deposit at a Federal Reserve Bank. (b) Opt-in period. Before applying the relief provided in paragraph (a) of this section, a state member bank must first notify the Board before July 1, 2020. (c) Calculation of relief. When calculating on-balance sheet assets as of each day of a reporting quarter, the relief provided in paragraph (a) of this section applies from the beginning of the reporting quarter in which the state member bank filed an opt-in notice through the termination date specified in paragraph (d) of this section. (d) Termination of exclusions. This section shall cease to be effective after the reporting period that ends March 31, 2021. (e) Custodial banking organizations. A custodial banking organization must reduce the amount in Sec. 217.10(c)(2)(x)(A) (to no less than zero) by any amount excluded under paragraph (a)(2) of this section. (f) Disclosure. Notwithstanding Table 13 to Sec. 217.173, a Board- regulated institution that is required to make the disclosures pursuant to Sec. 217.173 must exclude the items excluded pursuant to paragraph (a) of this section from Table 13 to Sec. 217.173. (g) Board approval for distributions. During the calendar quarter beginning on July 1, 2020, and until March 31, 2021, no state member bank that has opted in to the relief provided under paragraph (a) of this section may make a distribution, or create an obligation to make such a distribution, without [[Page 627]] prior Board approval. When reviewing a request under this paragraph (g), the Board will consider all relevant factors, including whether the distribution would be contrary to the safety and soundness of the state member bank; the nature, purpose, and extent of the request; and the particular circumstances giving rise to the request. [Reg. Q, 85 FR 32989, June 1, 2020, as amended at 86 FR 738, Jan. 6, 2021] Sec. 217.304 Temporary changes to the community bank leverage ratio framework. (a)(1) A Board-regulated institution that is not an advanced approaches Board-regulated institution and that meets all the criteria to be a qualifying community banking organization under Sec. 217.12(a)(2) but for Sec. 217.12(a)(2)(i) is a qualifying community banking organization if it has a leverage ratio equal to or greater than 8 percent. (2) Notwithstanding Sec. 217.12(a)(1), a qualifying community banking organization that has made an election to use the community bank leverage ratio framework under Sec. 217.12(a)(3) shall be considered to have met the minimum capital requirements under Sec. 217.10, the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1) of this chapter, if applicable, and any other capital or leverage requirements to which the qualifying community banking organization is subject, if it has a leverage ratio equal to or greater than 8 percent. (b) Notwithstanding Sec. 217.12(c)(6) and subject to Sec. 217.12(c)(5), a Board-regulated institution that has a leverage ratio of 7 percent or greater has the grace period described in Sec. 217.12(c)(1) through (4). A Board-regulated institution that has a leverage ratio of less than 7 percent does not have a grace period and must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it reports a leverage ratio of less than 7 percent. (c) Pursuant to section 4012 of the Coronavirus Aid, Relief, and Economic Security Act, the requirements provided under paragraphs (a) and (b) of this section are effective during the period beginning on April 23, 2020 and ending on the sooner of: (1) The termination date of the national emergency concerning the novel coronavirus disease outbreak declared by the President on March 13, 2020, under the National Emergencies Act (50 U.S.C. 1601 et seq.); or (2) December 31, 2020. (d) Upon the termination of the requirements in paragraphs (a) and (b) of this section as provided in paragraph (c) of this section, a Board-regulated institution is subject to the following: (1) Through December 31, 2020: (i) A Board-regulated institution that is not an advanced approaches Board-regulated institution and that meets all the criteria to be a qualifying community banking organization under Sec. 217.12(a)(2) but for Sec. 217.12(a)(2)(i) is a qualifying banking organization if it has a leverage ratio greater than 8 percent. (ii) Notwithstanding Sec. 217.12(a)(1), a qualifying community banking organization that has made an election to use the community bank leverage ratio framework under Sec. 217.12(a)(3) shall be considered to have met the minimum capital requirements under Sec. 217.10, the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1) of this chapter, if applicable, and any other capital or leverage requirements to which the qualifying community banking organization is subject, if it has a leverage ratio greater than 8 percent. (iii) Notwithstanding Sec. 217.12(c)(6) and subject to Sec. 217.12(c)(5), a Board-regulated institution that has a leverage ratio of greater than 7 percent has the grace period described in Sec. 217.12(c)(1) through (4). A Board-regulated institution that has a leverage ratio of 7 percent or less does not have a grace period and must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it reports a leverage ratio of 7 percent or less. (2) From January 1, 2021, through December 31, 2021: (i) A Board-regulated institution that is not an advanced approaches Board- [[Page 628]] regulated institution and that meets all the criteria to be a qualifying community banking organization under Sec. 217.12(a)(2) but for Sec. 217.12(a)(2)(i) is a qualifying banking organization if it has a leverage ratio greater than 8.5 percent. (ii) Notwithstanding Sec. 217.12(a)(1), a qualifying community banking organization that has made an election to use the community bank leverage ratio framework under Sec. 217.12(a)(3) shall be considered to have met the minimum capital requirements under Sec. 217.10, the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1) of this chapter, if applicable, and any other capital or leverage requirements to which the qualifying community banking organization is subject, if it has a leverage ratio greater than 8.5 percent. (iii) Notwithstanding Sec. 217.12(c)(6) and subject to Sec. 217.12(c)(5), a Board-regulated institution that has a leverage ratio of greater than 7.5 percent has the grace period described in Sec. 217.12(c)(1) through (4). A Board-regulated institution that has a leverage ratio of 7.5 percent or less does not have a grace period and must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it reports a leverage ratio of 7.5 percent or less. [Reg. Q, 85 FR 22929, Apr. 23, 2020, as amended at 85 FR 22938, Apr. 23, 2020] Sec. 217.305 Exposures related to the Paycheck Protection Program Lending Facility. Notwithstanding any other section of this part, a Board-regulated institution may exclude exposures pledged as collateral for a non- recourse loan that is provided as part of the Paycheck Protection Program Lending Facility, announced by the Board on April 7, 2020, from total leverage exposure, average total consolidated assets, advanced approaches total risk-weighted assets, and standardized total risk- weighted assets, as applicable. For the purpose of this section, a Board-regulated institution's liability under the facility must be reduced by the principal amount of the loans pledged as collateral for funds advanced under the facility. [Reg. Q, 85 FR 20393, Apr. 13, 2020] Subpart H_Risk-based Capital Surcharge for Global Systemically Important Bank Holding Companies Authority: 12 U.S.C. 5365. Source: Reg. Q, 80 FR 49105, Aug. 14, 2015, unless otherwise noted. Sec. 217.400 Purpose and applicability. (a) Purpose. This subpart implements provisions of section 165 of the Dodd-Frank Act (12 U.S.C. 5365), by establishing a risk-based capital surcharge for global systemically important bank holding companies. (b) Applicability--(1) General. This subpart applies to a bank holding company that: (i) Is an advanced approaches Board-regulated institution or a Category III Board-regulated institution; (ii) Is not a consolidated subsidiary of a bank holding company; and (iii) Is not a consolidated subsidiary of a foreign banking organization. (2) Effective date of calculation and surcharge requirements. (i) A bank holding company identified in Sec. 217.400(b)(1) is subject to Sec. 217.402 of this part and must determine whether it qualifies as a global systemically important BHC by December 31 of the year immediately following the year in which the bank holding company becomes an advanced approaches Board-regulated institution or a Category III Board-regulated institution; and (ii) A bank holding company that becomes a global systemically important BHC pursuant to Sec. 217.402 must calculate its GSIB surcharge pursuant to Sec. 217.403 by December 31 of the year in which the bank holding company is identified as a global systemically important BHC and must use that GSIB surcharge for purposes of determining its maximum payout ratio under Table 1 to Sec. 217.11 beginning on January 1 of the year that is immediately following the full calendar year after it is identified as a global systemically important BHC. [[Page 629]] (c) Reservation of authority. (1) The Board may apply this subpart to any Board-regulated institution, in whole or in part, by order of the Board based on the institution's capital structure, size, level of complexity, risk profile, scope of operations, or financial condition. (2) The Board may adjust the amount of the GSIB surcharge applicable to a global systemically important BHC, or extend or accelerate any compliance date of this subpart, if the Board determines that the adjustment, extension, or acceleration is appropriate in light of the capital structure, size, complexity, risk profile, and scope of operations of the global systemically important BHC. In increasing the size of the GSIB surcharge for a global systemically important BHC, the Board shall follow the notice and response procedures in 12 CFR part 263, subpart E. [Reg. Q, 80 FR 49105, Aug. 14, 2015, as amended at 84 FR 59075, Nov. 1, 2019] Sec. 217.401 Definitions. As used in this subpart: (a) Aggregate global indicator amount means, for each systemic indicator, the aggregate measure of that indicator, which is equal to the most recent annual dollar figure published by the Board that represents the sum of systemic indicator values of: (1) The 75 largest global banking organizations, as measured by the Basel Committee on Banking Supervision; and (2) Any other banking organization that the Basel Committee on Banking Supervision includes in its sample total for that year. (b) Assets under custody means assets held as a custodian on behalf of customers, as reported by the bank holding company on the FR Y-15. (c) Average risk-weighted assets means the four-quarter average of the measure of total risk-weighted assets associated with the lower of the bank holding company's common equity tier 1 risk-based capital ratios, as reported on the bank holding company's FR Y-9C for each quarter of the previous calendar year. (d) Brokered deposit has the meaning set forth in 12 CFR 249.3. (e) Consolidated subsidiary has the meaning set forth in 12 CFR 249.3. (f) Covered asset exchange means a transaction in which a bank holding company has provided assets of a given liquidity category to a counterparty in exchange for assets of a higher liquidity category, and the bank holding company and the counterparty agreed to return such assets to each other at a future date. Categories of assets, in descending order of liquidity, are level 1 liquid assets, level 2A liquid assets, level 2B liquid assets, and assets that are not HQLA. Covered asset exchanges do not include secured funding transactions. (g) Financial sector entity has the meaning set forth in 12 CFR 249.3. (h) GAAP means generally accepted accounting principles as used in the United States. (i) High-quality liquid asset (HQLA) has the meaning set forth in 12 CFR 249.3. (j) Cross-jurisdictional claims means foreign claims on an ultimate risk basis, as reported by the bank holding company on the FR Y-15. (k) Cross-jurisdictional liabilities means total cross- jurisdictional liabilities, as reported by the bank holding company on the FR Y-15. (l) Intra-financial system assets means total intra-financial system assets, as reported by the bank holding company on the FR Y-15. (m) Intra-financial system liabilities means total intra-financial system liabilities, as reported by the bank holding company on the FR Y- 15. (n) Level 1 liquid asset is an asset that qualifies as a level 1 liquid asset pursuant to 12 CFR 249.20(a). (o) Level 2A liquid asset is an asset that qualifies as a level 2A liquid asset pursuant to 12 CFR 249.20(b). (p) Level 2B liquid asset is an asset that qualifies as a level 2B liquid asset pursuant to 12 CFR 249.20(c). (q) Level 3 assets means assets valued using Level 3 measurement inputs, as reported by the bank holding company on the FR Y-15. (r) Notional amount of over-the-counter (OTC) derivatives means the total notional amount of OTC derivatives, as reported by the bank holding company on the FR Y-15. [[Page 630]] (s) Operational deposit has the meaning set forth in 12 CFR 249.3. (t) Payments activity means payments activity, as reported by the bank holding company on the FR Y-15. (u) Retail customer or counterparty has the meaning set forth in 12 CFR 249.3. (v) Secured funding transaction has the meaning set forth in 12 CFR 249.3. (w) Securities outstanding means total securities outstanding, as reported by the bank holding company on the FR Y-15. (x) Short position means a transaction in which a bank holding company has borrowed or otherwise obtained a security from a counterparty and sold that security, and the bank holding company must return the security to the initial counterparty in the future. (y) Systemic indicator includes the following indicators included on the FR Y-15: (1) Total exposures; (2) Intra-financial system assets; (3) Intra-financial system liabilities; (4) Securities outstanding; (5) Payments activity; (6) Assets under custody; (7) Underwritten transactions in debt and equity markets; (8) Notional amount of over-the-counter (OTC) derivatives; (9) Trading and available-for-sale (AFS) securities; (10) Level 3 assets; (11) Cross-jurisdictional claims; or (12) Cross-jurisdictional liabilities. (z) Total exposures means total exposures as reported by the bank holding company on the FR Y-15. (aa) Trading and AFS securities means total adjusted trading and available-for-sale securities as reported by the bank holding company on the FR Y-15. (bb) Underwritten transactions in debt and equity markets means total underwriting activity as reported by the bank holding company on the FR Y-15. (cc) Unsecured wholesale funding has the meaning set forth in 12 CFR 249.3. (dd) Wholesale customer or counterparty has the meaning set forth in 12 CFR 249.3. Sec. 217.402 Identification as a global systemically important BHC. A bank holding company is a global systemically important BHC if its method 1 score, as calculated under Sec. 217.404, equals or exceeds 130 basis points. Subject to Sec. 217.400(b)(2), a bank holding company must calculate its method 1 score on an annual basis by December 31 of each year. Sec. 217.403 GSIB surcharge. (a) General. Subject to Sec. 217.400(b)(2), a company identified as a global systemically important BHC pursuant to Sec. 217.402 must calculate its GSIB surcharge on an annual basis by December 31 of each year. For any given year, subject to paragraph (d) of this section, the GSIB surcharge is equal to the greater of: (1) The method 1 surcharge calculated in accordance with paragraph (b) of this section; and (2) The method 2 surcharge calculated in accordance with paragraph (c) of this section. (b) Method 1 surcharge--(1) General. The method 1 surcharge of a global systemically important BHC is the amount set forth in Table 1 of this section that corresponds to the global systemically important BHC's method 1 score, calculated pursuant to Sec. 217.404. Table 1 to Sec. 217.403--Method 1 Surcharge ------------------------------------------------------------------------ Method 1 score Method 1 surcharge ------------------------------------------------------------------------ Below 130................................. 0.0 percent. 130--229.................................. 1.0 percent. 230--329.................................. 1.5 percent. 330--429.................................. 2.0 percent. 430--529.................................. 2.5 percent. 530--629.................................. 3.5 percent. ------------------------------------------------------------------------ (2) Higher method 1 surcharges. To the extent that the method 1 score of a global systemically important BHC equals or exceeds 630 basis points, the method 1 surcharge equals the sum of: (i) 4.5 percent; and (ii) An additional 1.0 percent for each 100 basis points that the global systemically important BHC's score exceeds 630 basis points. (c) Method 2 surcharge--(1) General. The method 2 surcharge of a global systemically important BHC is the amount set forth in Table 2 of this section that corresponds to the global systemically important BHC's method 2 score, calculated pursuant to Sec. 217.405. [[Page 631]] Table 2 to Sec. 217.403: Method 2 Surcharge ------------------------------------------------------------------------ Method 2 score Method 2 surcharge ------------------------------------------------------------------------ Below 130................................. 0.0 percent. 130--229.................................. 1.0 percent. 230--329.................................. 1.5 percent. 330--429.................................. 2.0 percent. 430--529.................................. 2.5 percent. 530--629.................................. 3.0 percent. 630--729.................................. 3.5 percent. 730--829.................................. 4.0 percent. 830--929.................................. 4.5 percent. 930--1029................................. 5.0 percent. 1030--1129................................ 5.5 percent. ------------------------------------------------------------------------ (2) Higher method 2 surcharges. To the extent that the method 2 score of a global systemically important BHC equals or exceeds 1130 basis points, the method 2 surcharge equals the sum of: (i) 6.5 percent; and (ii) An additional 0.5 percent for each 100 basis points that the global systemically important BHC's score exceeds 1130 basis points. (d) Effective date of an adjusted GSIB surcharge--(1) Increase in GSIB surcharge. An increase in the GSIB surcharge of a global systemically important BHC will take effect (i.e., be incorporated into the maximum payout ratio under Table 1 to Sec. 217.11) on January 1 of the year that is one full calendar year after the increased GSIB surcharge was calculated. (2) Decrease in GSIB surcharge. A decrease in the GSIB surcharge of a global systemically important BHC will take effect (i.e., be incorporated into the maximum payout ratio under Table 1 to Sec. 217.11) on January 1 of the year immediately following the calendar year in which the decreased GSIB surcharge was calculated. Sec. 217.404 Method 1 score. (a) General. A bank holding company's method 1 score is the sum of its systemic indicator scores for the twelve systemic indicators set forth Table 1 of this section, as determined under paragraph (b) of this section. (b) Systemic indicator score. (1) Except as provided in paragraph (b)(2) of this section, the systemic indicator score in basis points for a given systemic indicator is equal to: (i) The ratio of: (A) The amount of that systemic indicator, as reported by the bank holding company as of December 31 of the previous calendar year; to (B) The aggregate global indicator amount for that systemic indicator published by the Board in the fourth quarter of that year; (ii) Multiplied by 10,000; and (iii) Multiplied by the indicator weight corresponding to the systemic indicator as set forth in Table 1 of this section. (2) Maximum substitutability score. The sum of the systemic indicator scores for the indicators in the substitutability category (assets under custody, payments systems activity, and underwriting activity) will not exceed 100 basis points. Table 1 to Sec. 217.404--Systemic Indicator Weights ------------------------------------------------------------------------ Category Systemic indicator Indicator weight ------------------------------------------------------------------------ Size.......................... Total exposures....... 20 percent. Interconnectedness............ Intra-financial system 6.67 percent. assets. Intra-financial system 6.67 percent. liabilities. Securities outstanding 6.67 percent. Substitutability.............. Payments activity..... 6.67 percent. Assets under custody.. 6.67 percent. Underwritten 6.67 percent. transactions in debt and equity markets. Complexity.................... Notional amount of 6.67 percent. over-the-counter (OTC) derivatives. Trading and available- 6.67 percent. for-sale (AFS) securities. Level 3 assets........ 6.67 percent. Cross-jurisdictional activity. Cross-jurisdictional 10 percent. claims. Cross-jurisdictional 10 percent. liabilities. ------------------------------------------------------------------------ [80 FR 49105, Aug. 14, 2015, as amended at 81 FR 90954, Dec. 16, 2016] Sec. 217.405 Method 2 score. (a) General. A global systemically important BHC's method 2 score is equal to: [[Page 632]] (1) The sum of: (i) The global systemically important BHC's systemic indicator scores for the nine systemic indicators set forth Table 1 of this section, as determined under paragraph (b) of this section; and (ii) The global systemically important BHC's short-term wholesale funding score, calculated pursuant to Sec. 217.406. (b) Systemic indicator score. A global systemically important BHC's score for a systemic indicator is equal to: (1) The amount of the systemic indicator, as reported by the bank holding company as of December 31 of the previous calendar year, expressed in billions of dollars; (2) Multiplied by the coefficient corresponding to the systemic indicator set forth in Table 1 of this section. Table 1 to Sec. 217.405--Coefficients for Systemic Indicators ---------------------------------------------------------------------------------------------------------------- Coefficient value Category Systemic indicator (%) ---------------------------------------------------------------------------------------------------------------- Size............................................ Total exposures............................ 4.423 Interconnectedness.............................. Intra-financial system assets.............. 12.007 Intra-financial system liabilities......... 12.490 Securities outstanding..................... 9.056 Complexity...................................... Notional amount of over-the-counter (OTC) 0.155 derivatives. Trading and available-for-sale (AFS) 30.169 securities. Level 3 assets............................. 161.177 Cross-jurisdictional activity................... Cross-jurisdictional claims................ 9.277 Cross-jurisdictional liabilities........... 9.926 ---------------------------------------------------------------------------------------------------------------- [80 FR 49105, Aug. 14, 2015, as amended at 81 FR 90954, Dec. 16, 2016] Sec. 217.406 Short-term wholesale funding score. (a) General. Except as provided in Sec. 217.400(b)(3)(ii), a global systemically important BHC's short-term wholesale funding score is equal to: (1) The average of the global systemically important BHC's weighted short-term wholesale funding amount (defined in paragraph (b) of this section); (2) Divided by the global systemically important BHC's average risk- weighted assets; and (3) Multiplied by a fixed factor of 350. (b) Weighted short-term wholesale funding amount. (1) To calculate its weighted short-term wholesale funding amount, a global systemically important BHC must calculate the amount of its short-term wholesale funding on a consolidated basis for each business day of the previous calendar year and weight the components of short-term wholesale funding in accordance with Table 1 of this section. (2) Short-term wholesale funding includes the following components, each as defined in paragraph (c) of this section: (i) All funds that the bank holding company must pay under each secured funding transaction, other than an operational deposit, with a remaining maturity of 1 year or less; (ii) All funds that the bank holding company must pay under all unsecured wholesale funding, other than an operational deposit, with a remaining maturity of 1 year or less; (iii) The fair value of an asset as determined under GAAP that a bank holding company must return under a covered asset exchange with a remaining maturity of 1 year or less; (iv) The fair value of an asset as determined under GAAP that the bank holding company must return under a short position to the extent that the borrowed asset does not qualify as a Level 1 liquid asset or a Level 2A liquid asset; and (v) All brokered deposits held at the bank holding company provided by a retail customer or counterparty. (3) For purposes of calculating the short-term wholesale funding amount and the components thereof, a bank holding company must assume that each asset or transaction described in paragraph (b)(2) of this section matures in accordance with the criteria set forth in 12 CFR 249.31. [[Page 633]] Table 1 to Sec. 217.406--Short-Term Wholesale Funding Components and Weights ---------------------------------------------------------------------------------------------------------------- Remaining maturity Component of short-term of 30 days of less Remaining maturity Remaining maturity Remaining maturity wholesale funding or no maturity of 31 to 90 days of 91 to 180 days of 181 to 365 days ---------------------------------------------------------------------------------------------------------------- Category 1...................... 25 percent........ 10 percent........ 0 percent......... 0 percent. (1) Secured funding transaction secured by a level 1 liquid asset; (2) Unsecured wholesale funding where the customer or counterparty is not a financial sector entity or a consolidated subsidiary thereof; (3) Brokered deposits provided by a retail customer or counterparty; and (4) Short positions where the borrowed asset does not qualify as either a level 1 liquid asset or level 2A liquid asset. Category 2...................... 50 percent........ 25 percent........ 10 percent........ 0 percent. (1) Secured funding transaction secured by a level 2A liquid asset; and (2) Covered asset exchanges involving the future exchange of a Level 1 liquid asset for a Level 2A liquid asset. Category 3...................... 75 percent........ 50 percent........ 25 percent........ 10 percent. (1) Secured funding transaction secured by a level 2B liquid asset; (2) Covered asset exchanges (other than those described in Category 2); and (3) Unsecured wholesale funding (other than unsecured wholesale funding described in Category 1). Category 4...................... 100 percent....... 75 percent........ 50 percent........ 25 percent. Any other component of short- term wholesale funding. ---------------------------------------------------------------------------------------------------------------- Subpart I_Application of Capital Rules Source: 80 FR 76377, Dec. 9, 2015, unless otherwise noted. Sec. 217.501 The Board's Regulatory Capital Framework for Depository Institution Holding Companies Organized as Non-Stock Companies. (a) Applicability. (1) This section applies to all depository institution holding companies that are organized as legal entities other than stock corporations and that are subject to this part (Regulation Q, 12 CFR part 217).\1\ --------------------------------------------------------------------------- \1\ See 12 CFR 217.1(c)(1) through (3). --------------------------------------------------------------------------- (2) Notwithstanding Sec. Sec. 217.2 and 217.10, a bank holding company or covered savings and loan holding company that is organized as a legal entity other than a stock corporation and has issued capital instruments that do not qualify as common equity tier 1 capital under Sec. 217.20 by virtue of the requirements set forth in this section may treat those capital instruments as common equity tier 1 capital until July 1, 2016. (b) Common equity tier 1 capital criteria applied to capital instruments issued by non-stock companies. (1) Subpart C of this part provides criteria for capital instruments to qualify as common equity tier 1 capital. This section describes how certain criteria apply to capital instruments issued by bank holding companies and covered savings and loan holding companies that are organized as legal entities other than stock corporations, such as limited liability companies (LLCs) and partnerships. (2) Holding companies are organized using a variety of legal structures, including corporate forms, LLCs, partnerships, and similar structures.\2\ In the Board's experience, some depository institution holding companies that are organized in non-stock form issue multiple classes of capital instruments that allocate profit and loss from a distribution differently among classes, which may affect the ability of [[Page 634]] those classes to qualify as common equity tier 1 capital.\3\ --------------------------------------------------------------------------- \2\ A stock corporation's common stock should satisfy the CET1 criteria so long as the common stock does not have unusual features, such as a limited duration. \3\ Notably, voting powers or other means of exercising control are not relevant for purposes of satisfying the CET1 eligibility criteria. Thus, the fact that a particular partner or member controls a holding company, for instance, due to serving as general partner or managing member, is not material to qualification of particular interests as CET1. --------------------------------------------------------------------------- (3) Common equity tier 1 capital is defined in Sec. 217.20(b). To qualify as common equity tier 1 capital, capital instruments must satisfy a number of criteria. This section provides examples of the application of certain common equity tier 1 capital criteria that relate to the economic interests in the company represented by particular capital instruments. (c) Examples. The following examples show how the criteria for common equity tier 1 capital apply to particular partnership or LLC structures.\4\ --------------------------------------------------------------------------- \4\ Although the examples refer to specific types of legal entities for purposes of illustration, the substance of the Regulation Q criteria reflected in the examples applies to all types of legal entities. --------------------------------------------------------------------------- (1) LLC with one class of membership interests. (i) An LLC issues one class of membership interests that provides that all holders of the interests bear losses and receive dividends proportionate to their levels of ownership. (ii) Provided that the other criteria in Sec. 217.20(b) are met, the membership interests would qualify as common equity tier 1 capital. (2) Partnership with limited and general partners. (i) A partnership has two classes of interests: General partnership interests and limited partnership interests. The general partners and the limited partners bear losses and receive distributions allocated proportionately to their capital contributions. In addition, the general partner has unlimited liability for the debts of the partnership. (ii) Provided that the other criteria in Sec. 217.20(b) are met, the general and limited partnership interests would qualify as common equity tier 1 capital. The fact of unlimited liability of the general partner is not relevant in the context of the eligibility criteria of common equity tier 1 capital instruments, provided that the general partner and limited partners share losses equally to the extent of the assets of the partnership, and the general partner is liable after the assets of the partnership are exhausted. In this regard, the general partner's unlimited liability is similar to a guarantee provided by the general partner, rather than a feature of the general partnership interest. (3) Senior and junior classes of capital instruments. (i) An LLC issues two types of membership interests, Class A and Class B. Holders of Class A and Class B interests participate equally in operating distributions and have equal voting rights. However, in liquidation, holders of Class B interests must receive the entire amount of their contributed capital in order for any distributions to be made to holders of Class A interests. (ii) Class B interests have a preference over Class A interests in liquidation and, therefore, would not qualify as common equity tier 1 capital as the Class B interests are not the most subordinated claim (criterion (i)) and do not share losses proportionately (criterion (viii) (Sec. 217.20(b)(1)(i) and (viii), respectively). (A) If all other criteria are satisfied, Class A interests would qualify as common equity tier 1 capital. (B) Class B interests may qualify as additional tier 1 capital, or tier 2 capital, if the Class B interests meet the applicable criteria (Sec. 217.20(c) and (d)). (4) LLC with two classes of membership interests. (i) An LLC issues two types of membership interests, Class A and Class B. To the extent that the LLC makes a distribution, holders of Class A and Class B interests share proportionately in any losses and receive proportionate shares of contributed capital. To the extent that a capital distribution includes an allocation of profits, holders of Class A and Class B interests share proportionately up to the point where all holders receive a specific annual rate of return on capital contributions, and, if the distribution exceeds that point, holders of Class B interests receive double their proportional share and holders of Class A interests receive the remainder of the distribution. (ii) Class A and Class B interests would both qualify as common equity [[Page 635]] tier 1 capital, provided that under all circumstances they share losses proportionately, as measured with respect to each distribution, and that they satisfy the common equity tier 1 capital criteria. The holders of Class A and Class B interests may receive different allocations of profits with respect to a distribution, provided that the distribution is made simultaneously to all members of Class A and Class B interests. Despite the potential for disproportionate profits, Class A and Class B interests have the same level of seniority with regard to potential losses and therefore they both satisfy all the criteria in Sec. 217.20(b), including criterion (ii) (Sec. 217.20(b)(1)(ii)). (5) Alternative LLC with two classes of membership interests. (i) An LLC issues two types of membership interests, Class A and Class B. In the event that the LLC makes a distribution, holders of Class A interests bear a disproportionately low level of any losses, such that the Class B interests bear a disproportionately high level of losses at the distribution. In contrast to the example in paragraph (c)(4) of this section, the different participation rights apply to distributions in situations where losses are allocated, including losses at liquidation. (ii) Because holders of the Class A interests do not bear a proportional interest in the losses (criterion (ii) (Sec. 217.20(b)(1)(ii)), the Class A interests would not qualify as common equity tier 1 capital. (A) Companies with such structures may revise their capital structures in order to provide for a sufficiently large class of capital instruments that proportionally bear first losses in liquidation (that is, the Class B interests in this example). (B) Alternatively, companies with such structures could revise their capital structure to ensure that all classes of capital instruments that are intended to qualify as common equity tier 1 capital share equally in losses in liquidation consistent with criteria (i), (ii), (vii), and (viii) in Sec. 217.20(b)(1)(i), (ii), (vii), respectively, even if each class of capital instruments has different rights to allocations of profits, as in paragraph (c)(4) of this section. (6) Mandatory distributions. (i) A partnership agreement contains provisions that require distributions to holders of one or more classes of capital instruments on the occurrence of particular events, such as upon specific dates or following a significant sale of assets, but not including any final distributions in liquidation. (ii) Any class of capital instruments that provides holders with rights to mandatory distributions would not qualify as common equity tier 1 capital because a holding company must have full discretion at all times to refrain from paying any dividends and making any other distributions on the instrument without triggering an event of default, a requirement to make a payment-in-kind, or an imposition of any other restriction on the holding company (criterion (vi) in Sec. 217.20(b)(1)(vi)). Companies must ensure that they have a sufficient amount of capital instruments that do not have such rights and that meet the other criteria of common equity tier 1 capital, in order to meet the requirements of Regulation Q. (7) Features that Reallocate Prior Distributions. (i) An LLC issues two types of membership interests, Class A and Class B. The terms of the LLC's membership interests provide that, under certain circumstances, holders of Class A interests must return a portion of earlier distributions, which are then distributed to holders of Class B interests (sometimes called a ``clawback''). (ii) If the reallocation of prior distributions described in paragraph (c)(7)(i) of this section could result in holders of the Class B interests bearing fewer losses on an aggregate basis than Class A interests, the Class B interests would not qualify as common equity tier 1 capital. However, where the membership interests provide for disproportionate allocation of profits, such as described in the example in paragraph (c)(4) of this section, and the reallocation of prior distributions would be limited to reversing the disproportionate portions of prior distributions, both the Class A and Class B interests could qualify as common equity tier 1 capital provided that they met all the other criteria in Sec. 217.20(b). [[Page 636]] Sec. 217.502 Application of the Board's Regulatory Capital Framework to Employee Stock Ownership Plans that are Depository Institution Holding Companies and Certain Trusts that are Savings and Loan Holding Companies. (a) Employee Stock Ownership Plans. Notwithstanding Sec. 217.1(c), a bank holding company or covered savings and loan holding company that is an employee stock ownership plan is exempt from this part until the Board adopts regulations that directly relate to the application of capital regulations to employee stock ownership plans. (b) Personal or Family Trusts. Notwithstanding Sec. 217.1(c), a covered savings and loan holding company is exempt from this part if it is a personal or family trust and not a business trust until the Board adopts regulations that apply capital regulations to such a covered savings and loan holding company. Sec. Appendix A to Part 217--The Federal Reserve Board's Framework for Implementing the Countercyclical Capital Buffer 1. Background (a) In 2013, the Board of Governors of the Federal Reserve System (Board) issued a final regulatory capital rule (Regulation Q) in coordination with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) that strengthened risk-based and leverage capital requirements applicable to insured depository institutions and depository institution holding companies (banking organizations).\1\ Among those changes was the introduction of a countercyclical capital buffer (CCyB) for large, internationally active banking organizations.\2\ --------------------------------------------------------------------------- \1\ See 12 CFR part 217; Federal Reserve Board Approves Final Rule To Help Ensure Banks Maintain Strong Capital Positions (July 2, 2013), available at http://www.federalreserve.gov; Agencies Adopt Supplementary Leverage Ratio Notice of Proposed Rulemaking (July 9, 2013), available at http://www.occ.gov; and FDIC Board Approves Basel III Interim Final Rule and Supplementary Leverage Ratio Notice of Proposed Rulemaking (July 9, 2013) available at https://www.fdic.gov. \2\ 12 CFR 217.11(b). The CCyB applies only to banking organizations subject to the advanced approaches capital rules, which generally apply to those banking organizations with greater than $250 billion in assets or more than $10 billion in on-balance-sheet foreign exposures. See 12 CFR 217.100(b). An advanced approaches institution is subject to the CCyB regardless of whether it has completed the parallel run process and received notification from its primary Federal supervisor. See 12 CFR 217.121(d). --------------------------------------------------------------------------- (b) The CCyB is a supplemental, macroprudential policy tool that the Board can increase during periods of rising vulnerabilities in the financial system and reduce when vulnerabilities recede. It is designed to increase the resilience of large banking organizations when there is an elevated risk of above-normal losses. Increasing the resilience of large banking organizations will, in turn, improve the resilience of the broader financial system. Above-normal losses often follow periods of rapid asset price appreciation or credit growth that are not well supported by underlying economic fundamentals. The circumstances in which the Board would most likely begin to increase the CCyB above zero percent to augment minimum capital requirements and other capital buffers would be when systemic vulnerabilities are meaningfully above normal. By requiring large banking organizations to hold additional capital during those periods of excess and removing the requirement to hold additional capital when the vulnerabilities have diminished, the CCyB also is expected to moderate fluctuations in the supply of credit over time. Moderating the supply of credit may mitigate or prevent the conditions that contribute to above-normal losses, such as elevated asset prices and excessive leverage, and prevent or mitigate reductions in lending to creditworthy borrowers that can amplify an economic downturn. In this way, implementation of the CCyB also responds to the Dodd-Frank Act's requirement that the Board seek to make its capital requirements countercyclical.\3\ --------------------------------------------------------------------------- \3\ 12 U.S.C. 1844(b), 1464a(g)(1), and 3907(a)(1) (codifying sections 616(a), (b), and (c) of the Dodd-Frank Act). --------------------------------------------------------------------------- (c) Regulation Q established the initial CCyB amount with respect to private sector credit exposures located in the United States (U.S.-based credit exposures) at zero percent and provided that the maximum potential amount of the CCyB for credit exposures in the United States was 2.5 percent of risk-weighted assets.\4\ The Board expects to make [[Page 637]] decisions about the appropriate level of the CCyB for U.S.-based credit exposures jointly with the OCC and FDIC, and expects that the CCyB amount for U.S.-based credit exposures will be the same for covered depository institution holding companies and insured depository institutions. The CCyB is designed to take into account the macrofinancial environment in which banking organizations function and the degree to which that environment impacts the resilience of advanced approaches institutions. Therefore, the appropriate level of the CCyB for U.S.-based credit exposures is not closely linked to the characteristics of an individual institution. Rather, the impact of the CCyB on any single institution will depend on the particular composition of the private-sector credit exposures of the institution across national jurisdictions. --------------------------------------------------------------------------- \4\ The CCyB is subject to a phase-in arrangement between 2016 and 2019. See 12 CFR 217.300(a)(2). --------------------------------------------------------------------------- 2. Overview and Scope of the Policy Statement This Policy Statement describes the framework that the Board will follow in setting the amount of the CCyB for U.S.-based credit exposures. The framework consists of a set of principles for translating assessments of financial system vulnerabilities that are regularly undertaken by the Board into the appropriate level of the CCyB. Those assessments are informed by a broad array of quantitative indicators of financial and economic performance and a set of empirical models. In addition, the framework includes an assessment of whether the CCyB is the most appropriate policy instrument (among available policy instruments) to address the highlighted financial system vulnerabilities. 3. The Objectives of the CCyB (a) The objectives of the CCyB are to strengthen banking organizations' resilience against the build-up of systemic vulnerabilities and reduce fluctuations in the supply of credit. The CCyB supplements the minimum capital requirements and the capital conservation buffer, which themselves are designed to provide substantial resilience to unexpected losses created by normal fluctuations in economic and financial conditions. The capital surcharge on global systemically important banking organizations adds an additional layer of defense for the largest and most systemically important institutions, whose financial distress can have outsized effects on the rest of the financial system and the real economy.\5\ However, periods of financial excesses, for example as reflected in episodes of rapid asset price appreciation or credit growth not well supported by underlying economic fundamentals, are often followed by above-normal losses that leave banking organizations and other financial institutions undercapitalized. Therefore, the Board would most likely begin to increase the CCyB above zero in those circumstances when systemic vulnerabilities become meaningfully above normal and progressively raise the CCyB level if vulnerabilities become more severe. --------------------------------------------------------------------------- \5\ See, Federal Reserve Board Approves Final Rule Requiring The Largest, Most Systemically Important U.S. Bank Holding Companies To Further Strengthen Their Capital Positions (July 20, 2015), available at http://www.federalreserve.gov. --------------------------------------------------------------------------- (b) The CCyB is expected to help provide additional resilience for advanced approaches institutions, and by extension the broader financial system, against elevated vulnerabilities primarily in two ways. First, advanced approaches institutions will likely hold more capital to avoid limitations on capital distributions and discretionary bonus payments resulting from implementation of the CCyB. Strengthening their capital positions when financial conditions are accommodative would increase the capacity of advanced approaches institutions to absorb outsized losses during a future significant economic downturn or period of financial instability, thus making them more resilient. (c) The second and related goal of the CCyB is to promote a more sustainable supply of credit over the economic cycle. During a credit cycle downturn, better-capitalized institutions have been shown to be more likely than weaker institutions to have continued access to funding. Better-capitalized institutions also are less likely to take actions that lead to broader financial-sector distress and its associated macroeconomic costs, such as large-scale sales of assets at prices below their fundamental value and sharp contractions in credit supply.\6\ Therefore, it is likely that as a result of the CCyB having been put into place during the preceding period of rapid credit creation, advanced approaches institutions would be better positioned to continue their important intermediary functions during a subsequent economic contraction. A timely and credible reduction in the CCyB requirement during a period of high credit losses could reinforce those beneficial effects of a higher base level of capital, because it would permit advanced [[Page 638]] approaches institutions either to realize loan losses promptly and remove them from their balance sheets or to expand their balance sheets, for example by continuing to lend to creditworthy borrowers. --------------------------------------------------------------------------- \6\ For additional background on the relationship between financial distress and economic outcomes, see Carmen Reinhart and Kenneth Rogoff (2009), This Time is Different. Princeton University Press; [Ograve]scar Jord[agrave] & Moritz Schularick & Alan M Taylor (2011), ``Financial Crises, Credit Booms, and External Imbalances: 140 Years of Lessons,'' IMF Economic Review, Palgrave Macmillan, vol. 59(2), pages 340-378; and Bank for International Settlements (2010), ``Assessing the Long-Run Economic Impact of Higher Capital and Liquidity Requirements.'' --------------------------------------------------------------------------- (d) During a period of cyclically increasing vulnerabilities, advanced approaches institutions might react to an increase in the CCyB by raising lending standards, otherwise reducing their risk exposure, augmenting their capital, or some combination of those actions. They may choose to raise capital by taking actions that would increase net income, reducing capital distributions such as share repurchases or dividends, or issuing new equity. In this regard, an increase in the CCyB would not prevent advanced approaches institutions from maintaining their important role as credit intermediaries, but would reduce the likelihood that banking organizations with insufficient capital would foster unsustainable credit growth or engage in imprudent risk taking. The specific combination of adjustments and the relative size of each adjustment will depend in part on the initial capital positions of advanced approaches institutions, the cost of debt and equity financing, and the earnings opportunities presented by the economic situation at the time.\7\ --------------------------------------------------------------------------- \7\ For estimates of the size of certain adjustments, see Samuel G. Hanson, Anil K. Kashyap, and Jeremy C. Stein (2011), ``A Macroprudential Approach to Financial Regulation,'' Journal of Economic Perspectives 25(1), pp. 3-28; Skander J. Van den Heuvel (2008), ``The Welfare Cost of Bank Capital Requirements.'' Journal of Monetary Economics 55, pp. 298- 320. --------------------------------------------------------------------------- 4. The Framework for Setting the U.S. CCyB (a) The Board regularly monitors and assesses threats to financial stability by synthesizing information from a comprehensive set of financial-sector and macroeconomic indicators, supervisory information, surveys, and other interactions with market participants.\8\ In forming its view about the appropriate size of the U.S. CCyB, the Board will consider a number of financial system vulnerabilities, including but not limited to, asset valuation pressures and risk appetite, leverage in the nonfinancial sector, leverage in the financial sector, and maturity and liquidity transformation in the financial sector. The decision will reflect the implications of the assessment of overall financial system vulnerabilities as well as any concerns related to one or more classes of vulnerabilities. The specific combination of vulnerabilities is important because an adverse shock to one class of vulnerabilities could be more likely than another to exacerbate existing pressures in other parts of the economy or financial system. --------------------------------------------------------------------------- \8\ Tobias Adrian, Daniel Covitz, and Nellie Liang (2014), ``Financial Stability Monitoring.'' Finance and Economics Discussion Series 2013-021. Washington: Board of Governors of the Federal Reserve System, http://www.federalreserve.gov/pubs/feds/2013/201321/ 201321pap.pdf. --------------------------------------------------------------------------- (b) The Board intends to monitor a wide range of financial and macroeconomic quantitative indicators including, but not limited to, measures of relative credit and liquidity expansion or contraction, a variety of asset prices, funding spreads, credit condition surveys, indices based on credit default swap spreads, option implied volatilities, and measures of systemic risk.\9\ In addition, empirical models that translate a manageable set of quantitative indicators of financial and economic performance into potential settings for the CCyB, when used as part of a comprehensive judgmental assessment of all available information, can be a useful input to the Board's deliberations. Such models may include, but are not limited to, those that rely on small sets of indicators--such as the nonfinancial credit- to-GDP ratio, its growth rate, and combinations of the credit-to-GDP ratio with trends in the prices of residential and commercial real estate--which some academic research has shown to be useful in identifying periods of financial excess followed by a period of crisis on a cross-country basis.\10\ Such models may also include those that consider larger sets of indicators, which have the advantage of representing conditions in all key sectors of the economy, especially those specific to risk-taking, performance, and the financial condition of large banks.\11\ --------------------------------------------------------------------------- \9\ See 12 CFR 217.11(b)(2)(iv). \10\ See, e.g., Jorda, Oscar, Moritz Schularick and Alan Taylor, 2013. ``When Credit Bites Back: Leverage, Business Cycles and Crises,'' Journal of Money, Credit, and Banking, 45(2), pp. 3-28, and Drehmann, Mathias, Claudio Borio, and Kostas Tsatsaronis, 2012. ``Characterizing the Financial Cycle: Don't Lose Sight of the Medium Term!'' BIS Working Papers 380, Bank for International Settlements. Jorda, Oscar, Moritz Schularick and Alan Taylor, 2015. ``Leveraged Bubbles,'' Center for Economic Policy Research Discussion Paper No. DP10781. BCBS (2010), ``Guidance for National Authorities Operating the Countercyclical Capital Buffer,'' BIS. \11\ See, e.g., Aikman, David, Michael T. Kiley, Seung Jung Lee, Michael G. Palumbo, and Missaka N. Warusawitharana (2015), ``Mapping Heat in the U.S. Financial System,'' Finance and Economics Discussion Series 2015-059. Washington: Board of Governors of the Federal Reserve System, http://dx.doi.org/10.17016/FEDS.2015.059 (providing an example of the range of indicators used and type of analysis possible). --------------------------------------------------------------------------- [[Page 639]] (c) However, no single indictor or fixed set of indicators can adequately capture all the vulnerabilities in the U.S. economy and financial system. Moreover, adjustments in the CCyB that were tightly linked to a specific model or set of models could be imprecise due to the relatively short period that some indicators are available, the limited number of past crises against which the models can be calibrated, and limited experience with the CCyB as a macroprudential tool. As a result, the types of indicators and models considered in assessments of the appropriate level of the CCyB are likely to change over time based on advances in research and the experience of the Board with this new macroprudential tool. (d) The Board will determine the appropriate level of the CCyB for U.S.-based credit exposures based on its analysis of the above factors. Generally, a zero percent U.S. CCyB amount would reflect an assessment that U.S. economic and financial conditions are broadly consistent with a financial system in which levels of system-wide vulnerabilities are within or near their normal range of values. The Board could increase the CCyB as vulnerabilities build. A 2.5 percent CCyB amount for U.S.- based credit exposures, which is the maximum level under the Board's rule, would reflect an assessment that the U.S. financial sector is experiencing a period of significantly elevated or rapidly increasing system-wide vulnerabilities. Importantly, as a macroprudential policy tool, the CCyB will be activated and deactivated based on broad developments and trends in the U.S. financial system, rather than the activities of any individual banking organization. (e) Similarly, the Board would remove or reduce the CCyB when the conditions that led to its activation abate or lessen. Additionally, the Board would remove or reduce the CCyB when release of CCyB capital would promote financial stability. Indeed, for the CCyB to be most effective, the CCyB should be deactivated or reduced in a timely manner. Deactivating the CCyB in a timely manner could, for example, promote the prompt realization of loan losses by advanced approaches institutions and the removal of such loans from their balance sheets and would reduce the likelihood that advanced approaches institutions would significantly pare their risk-weighted assets in order to maintain their capital ratios during a downturn. (f) The pace and magnitude of changes in the CCyB will depend importantly on the underlying conditions in the financial sector and the economy as well as the desired effects of the proposed change in the CCyB. If vulnerabilities are rising gradually, then incremental increases in the level of the CCyB may be appropriate. Incremental increases would allow banks to augment their capital primarily through retained earnings and allow policymakers additional time to assess the effects of the policy change before making subsequent adjustments. However, if vulnerabilities in the financial system are building rapidly, then larger or more frequent adjustments may be necessary to increase loss-absorbing capacity sooner and potentially to mitigate the rise in vulnerabilities. (g) The Board will also consider whether the CCyB is the most appropriate of its available policy instruments to address the financial system vulnerabilities highlighted by the framework's judgmental assessments and empirical models. The CCyB primarily is intended to address cyclical vulnerabilities, rather than structural vulnerabilities that do not vary significantly over time. Structural vulnerabilities are better addressed through targeted reforms or permanent increases in financial system resilience. Two central factors for the Board to consider are whether advanced approaches institutions are exposed-- either directly or indirectly--to the vulnerabilities identified in the comprehensive judgmental assessment or by the quantitative indicators that suggest activation of the CCyB and whether advanced approaches institutions are contributing--either directly or indirectly--to these highlighted vulnerabilities. (h) In setting the CCyB for advanced approaches institutions that it supervises, the Board plans to consult with the OCC and FDIC on their analyses of financial system vulnerabilities and on the extent to which advanced approaches banking organizations are either exposed to or contributing to these vulnerabilities. 5. Communication of the U.S. CCyB With the Public (a) The Board expects to consider at least once per year the applicable level of the U.S. CCyB. The Board will review financial conditions regularly throughout the year and may adjust the CCyB more frequently as a result of those monitoring activities. (b) Further, the Board will continue to communicate with the public in other formats regarding its assessment of U.S. financial stability, including financial system vulnerabilities. In the event that the Board considered that a change in the CCyB were appropriate, it would, in proposing the change, include a discussion of the reasons for the proposed action as determined by the particular circumstances. In addition, the Board's biannual Monetary Policy Report to Congress, usually published in February and July, will continue to contain a section that reports on developments pertaining to the [[Page 640]] stability of the U.S. financial system.\12\ That portion of the report will be an important vehicle for updating the public on how the Board's current assessment of financial system vulnerabilities bears on the setting of the CCyB. --------------------------------------------------------------------------- \12\ For the most recent discussion in this format, see box titled ``Developments Related to Financial Stability'' in Board of Governors of the Federal Reserve System, Monetary Policy Report to Congress, June 2016, pp. 20-21. --------------------------------------------------------------------------- 6. Monitoring the Effects of the U.S. CCyB (a) The effects of the U.S. CCyB ultimately will depend on the level at which it is set, the size and nature of any adjustments in the level, and the timeliness with which it is increased or decreased. The extent to which the CCyB may affect vulnerabilities in the broader financial system depends upon a complex set of interactions between required capital levels at the largest banking organizations and the economy and financial markets. In addition to the direct effects, the secondary economic effects could be amplified if financial markets extract a signal from the announcement of a change in the CCyB about subsequent actions that might be taken by the Board. Moreover, financial market participants might react by updating their expectations about future asset prices in specific markets or broader economic activity based on the concerns expressed by the regulators in communications announcing a policy change. (b) The Board will monitor and analyze adjustments by banking organizations and other financial institutions to the CCyB: whether a change in the CCyB leads to observed changes in risk-based capital ratios at advanced approaches institutions, as well as whether those adjustments are achieved passively through retained earnings, or actively through changes in capital distributions or in risk-weighted assets. Other factors to be monitored include the extent to which loan growth and interest rate spreads on loans made by affected banking organizations change relative to loan growth and loan spreads at banking organizations that are not subject to the buffer. Another consideration in setting the CCyB and other macroprudential tools is the extent to which the adjustments by advanced approaches institutions to higher capital buffers lead to migration of credit market activity outside of those banking organizations, especially to the nonbank financial sector. Depending on the amount of migration, which institutions are affected by it, and the remaining exposures of advanced approaches institutions, those adjustments could cause the Board to favor either a higher or a lower value of the CCyB. (c) The Board will also monitor information regarding the levels of and changes in the CCyB in other countries. The Basel Committee on Banking Supervision is expected to maintain this information for member countries in a publicly available form on its Web site.\13\ Using that data in conjunction with supervisory and publicly available datasets, the Board will be able to draw not only upon the experience of the United States but also that of other countries to refine estimates of the effects of changes in the CCyB. --------------------------------------------------------------------------- \13\ BIS, Countercyclical capital buffer (CCyB), www.bis.org/bcbs/ ccyb/index.htm. [81 FR 63686, Sept. 16, 2016] PART 218_EXCEPTIONS FOR BANKS FROM THE DEFINITION OF BROKER IN THE SECURITIES EXCHANGE ACT OF 1934 (REGULATION R)--Table of Contents Sec. 218.100 Definition. 218.700 Defined terms relating to the networking exception from the definition of ``broker.'' 218.701 Exemption from the definition of ``broker'' for certain institutional referrals. 218.721 Defined terms relating to the trust and fiduciary activities exception from the definition of ``broker.'' 218.722 Exemption allowing banks to calculate trust and fiduciary compensation on a bank-wide basis. 218.723 Exemptions for special accounts, transferred accounts, foreign branches and a de minimis number of accounts. 218.740 Defined terms relating to the sweep accounts exception from the definition of ``broker.'' 218.741 Exemption for banks effecting transactions in money market funds. 218.760 Exemption from definition of ``broker'' for banks accepting orders to effect transactions in securities from or on behalf of custody accounts. 218.771 Exemption from the definition of ``broker'' for banks effecting transactions in securities issued pursuant to Regulation S. 218.772 Exemption from the definition of ``broker'' for banks engaging in securities lending transactions. 218.775 Exemption from the definition of ``broker'' for banks effecting certain excepted or exempted transactions in investment company securities. [[Page 641]] 218.776 Exemption from the definition of ``broker'' for banks effecting certain excepted or exempted transactions in a company's securities for its employee benefit plans. 218.780 Exemption for banks from liability under section 29 of the Securities Exchange Act of 1934. 218.781 Exemption from the definition of ``broker'' for banks for a limited period of time. Authority: 15 U.S.C. 78c(a)(4)(F). Source: Reg. R, 72 FR 56554, Oct. 3, 2007, unless otherwise noted. Sec. 218.100 Definition. For purposes of this part the following definition shall apply: Act means the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Sec. 218.700 Defined terms relating to the networking exception from the definition of ``broker.'' When used with respect to the Third Party Brokerage Arrangements (``Networking'') Exception from the definition of the term ``broker'' in section 3(a)(4)(B)(i) of the Act (15 U.S.C. 78c(a)(4)(B)(i)) in the context of transactions with a customer, the following terms shall have the meaning provided: (a) Contingent on whether the referral results in a transaction means dependent on whether the referral results in a purchase or sale of a security; whether an account is opened with a broker or dealer; whether the referral results in a transaction involving a particular type of security; or whether it results in multiple securities transactions; provided, however, that a referral fee may be contingent on whether a customer: (1) Contacts or keeps an appointment with a broker or dealer as a result of the referral; or (2) Meets any objective, base-line qualification criteria established by the bank or broker or dealer for customer referrals, including such criteria as minimum assets, net worth, income, or marginal federal or state income tax rate, or any requirement for citizenship or residency that the broker or dealer, or the bank, may have established generally for referrals for securities brokerage accounts. (b)(1) Incentive compensation means compensation that is intended to encourage a bank employee to refer customers to a broker or dealer or give a bank employee an interest in the success of a securities transaction at a broker or dealer. The term does not include compensation paid by a bank under a bonus or similar plan that is: (i) Paid on a discretionary basis; and (ii) Based on multiple factors or variables and: (A) Those factors or variables include multiple significant factors or variables that are not related to securities transactions at the broker or dealer; (B) A referral made by the employee is not a factor or variable in determining the employee's compensation under the plan; and (C) The employee's compensation under the plan is not determined by reference to referrals made by any other person. (2) Nothing in this paragraph (b) shall be construed to prevent a bank from compensating an officer, director or employee under a bonus or similar plan on the basis of any measure of the overall profitability or revenue of: (i) The bank, either on a stand-alone or consolidated basis; (ii) Any affiliate of the bank (other than a broker or dealer), or any operating unit of the bank or an affiliate (other than a broker or dealer), if the affiliate or operating unit does not over time predominately engage in the business of making referrals to a broker or dealer; or (iii) A broker or dealer if: (A) Such measure of overall profitability or revenue is only one of multiple factors or variables used to determine the compensation of the officer, director or employee; (B) The factors or variables used to determine the compensation of the officer, director or employee include multiple significant factors or variables that are not related to the profitability or revenue of the broker or dealer; (C) A referral made by the employee is not a factor or variable in determining the employee's compensation under the plan; and (D) The employee's compensation under the plan is not determined by reference to referrals made by any other person. [[Page 642]] (c) Nominal one-time cash fee of a fixed dollar amount means a cash payment for a referral, to a bank employee who was personally involved in referring the customer to the broker or dealer, in an amount that meets any of the following standards: (1) The payment does not exceed: (i) Twice the average of the minimum and maximum hourly wage established by the bank for the current or prior year for the job family that includes the employee; or (ii) 1/1000th of the average of the minimum and maximum annual base salary established by the bank for the current or prior year for the job family that includes the employee; or (2) The payment does not exceed twice the employee's actual base hourly wage or 1/1000th of the employee's actual annual base salary; or (3) The payment does not exceed twenty-five dollars ($25), as adjusted in accordance with paragraph (f) of this section. (d) Job family means a group of jobs or positions involving similar responsibilities, or requiring similar skills, education or training, that a bank, or a separate unit, branch or department of a bank, has established and uses in the ordinary course of its business to distinguish among its employees for purposes of hiring, promotion, and compensation. (e) Referral means the action taken by one or more bank employees to direct a customer of the bank to a broker or dealer for the purchase or sale of securities for the customer's account. (f) Inflation adjustment--(1) In general. On April 1, 2012, and on the 1st day of each subsequent 5-year period, the dollar amount referred to in paragraph (c)(3) of this section shall be adjusted by: (i) Dividing the annual value of the Employment Cost Index For Wages and Salaries, Private Industry Workers (or any successor index thereto), as published by the Bureau of Labor Statistics, for the calendar year preceding the calendar year in which the adjustment is being made by the annual value of such index (or successor) for the calendar year ending December 31, 2006; and (ii) Multiplying the dollar amount by the quotient obtained in paragraph (f)(1)(i) of this section. (2) Rounding. If the adjusted dollar amount determined under paragraph (f)(1) of this section for any period is not a multiple of $1, the amount so determined shall be rounded to the nearest multiple of $1. Sec. 218.701 Exemption from the definition of ``broker'' for certain institutional referrals. (a) General. A bank that meets the requirements for the exception from the definition of ``broker'' under section 3(a)(4)(B)(i) of the Act (15 U.S.C. 78c(a)(4)(B)(i)), other than section 3(a)(4)(B)(i)(VI) of the Act (15 U.S.C. 78c(a)(4)(B)(i)(VI)), is exempt from the conditions of section 3(a)(4)(B)(i)(VI) of the Act solely to the extent that a bank employee receives a referral fee for referring a high net worth customer or institutional customer to a broker or dealer with which the bank has a contractual or other written arrangement of the type specified in section 3(a)(4)(B)(i) of the Act, if: (1) Bank employee. (i) The bank employee is: (A) Not registered or approved, or otherwise required to be registered or approved, in accordance with the qualification standards established by the rules of any self-regulatory organization; (B) Predominantly engaged in banking activities other than making referrals to a broker or dealer; and (C) Not subject to statutory disqualification, as that term is defined in section 3(a)(39) of the Act (15 U.S.C. 78c(a)(39)), except subparagraph (E) of that section; and (ii) The high net worth customer or institutional customer is encountered by the bank employee in the ordinary course of the employee's assigned duties for the bank. (2) Bank determinations and obligations--(i) Disclosures. The bank provides the high net worth customer or institutional customer the information set forth in paragraph (b) of this section (A) In writing prior to or at the time of the referral; or (B) Orally prior to or at the time of the referral and [[Page 643]] (1) The bank provides such information to the customer in writing within 3 business days of the date on which the bank employee refers the customer to the broker or dealer; or (2) The written agreement between the bank and the broker or dealer provides for the broker or dealer to provide such information to the customer in writing in accordance with paragraph (a)(3)(i) of this section. (ii) Customer qualification. (A) In the case of a customer that is a not a natural person, the bank has a reasonable basis to believe that the customer is an institutional customer before the referral fee is paid to the bank employee. (B) In the case of a customer that is a natural person, the bank has a reasonable basis to believe that the customer is a high net worth customer prior to or at the time of the referral. (iii) Employee qualification information. Before a referral fee is paid to a bank employee under this section, the bank provides the broker or dealer the name of the employee and such other identifying information that may be necessary for the broker or dealer to determine whether the bank employee is registered or approved, or otherwise required to be registered or approved, in accordance with the qualification standards established by the rules of any self-regulatory organization or is subject to statutory disqualification, as that term is defined in section 3(a)(39) of the Act (15 U.S.C. 78c(a)(39)), except subparagraph (E) of that section. (iv) Good faith compliance and corrections. A bank that acts in good faith and that has reasonable policies and procedures in place to comply with the requirements of this section shall not be considered a ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) solely because the bank fails to comply with the provisions of this paragraph (a)(2) with respect to a particular customer if the bank: (A) Takes reasonable and prompt steps to remedy the error (such as, for example, by promptly making the required determination or promptly providing the broker or dealer the required information); and (B) Makes reasonable efforts to reclaim the portion of the referral fee paid to the bank employee for the referral that does not, following any required remedial action, meet the requirements of this section and that exceeds the amount otherwise permitted under section 3(a)(4)(B)(i)(VI) of the Act (15 U.S.C. 78c(a)(4)(B)(i)(VI)) and Sec. 218.700. (3) Provisions of written agreement. The written agreement between the bank and the broker or dealer shall require that: (i) Broker-dealer written disclosures. If, pursuant to paragraph (a)(2)(i)(B)(2) of this section, the broker or dealer is to provide the customer in writing the disclosures set forth in paragraph (b) of this section, the broker or dealer provides such information to the customer in writing: (A) Prior to or at the time the customer begins the process of opening an account at the broker or dealer, if the customer does not have an account with the broker or dealer; or (B) Prior to the time the customer places an order for a securities transaction with the broker or dealer as a result of the referral, if the customer already has an account at the broker or dealer. (ii) Customer and employee qualifications. Before the referral fee is paid to the bank employee: (A) The broker or dealer determine that the bank employee is not subject to statutory disqualification, as that term is defined in section 3(a)(39) of the Act (15 U.S.C. 78c(a)(39)), except subparagraph (E) of that section; and (B) The broker or dealer has a reasonable basis to believe that the customer is a high net worth customer or an institutional customer. (iii) Suitability or sophistication determination by broker or dealer--(A) Contingent referral fees. In any case in which payment of the referral fee is contingent on completion of a securities transaction at the broker or dealer, the broker or dealer, before such securities transaction is conducted, perform a suitability analysis of the securities transaction in accordance with the rules of the broker or dealer's applicable self-regulatory organization as if the broker or dealer had recommended the securities transaction. [[Page 644]] (B) Non-contingent referral fees. In any case in which payment of the referral fee is not contingent on the completion of a securities transaction at the broker or dealer, the broker or dealer, before the referral fee is paid, either: (1) Determine that the customer: (i) Has the capability to evaluate investment risk and make independent decisions; and (ii) Is exercising independent judgment based on the customer's own independent assessment of the opportunities and risks presented by a potential investment, market factors and other investment considerations; or (2) Perform a suitability analysis of all securities transactions requested by the customer contemporaneously with the referral in accordance with the rules of the broker or dealer's applicable self- regulatory organization as if the broker or dealer had recommended the securities transaction. (iv) Notice to the customer. The broker or dealer inform the customer if the broker or dealer determines that the customer or the securities transaction(s) to be conducted by the customer does not meet the applicable standard set forth in paragraph (a)(3)(iii) of this section. (v) Notice to the bank. The broker or dealer promptly inform the bank if the broker or dealer determines that: (A) The customer is not a high net worth customer or institutional customer, as applicable; or (B) The bank employee is subject to statutory disqualification, as that term is defined in section 3(a)(39) of the Act (15 U.S.C. 78c(a)(39)), except subparagraph (E) of that section. (b) Required disclosures. The disclosures provided to the high net worth customer or institutional customer pursuant to paragraphs (a)(2)(i) or (a)(3)(i) of this section shall clearly and conspicuously disclose: (1) The name of the broker or dealer; and (2) That the bank employee participates in an incentive compensation program under which the bank employee may receive a fee of more than a nominal amount for referring the customer to the broker or dealer and payment of this fee may be contingent on whether the referral results in a transaction with the broker or dealer. (c) Receipt of other compensation. Nothing in this section prevents or prohibits a bank from paying or a bank employee from receiving any type of compensation that would not be considered incentive compensation under Sec. 218.700(b)(1) or that is described in Sec. 218.700(b)(2). (d) Definitions. When used in this section: (1) High net worth customer--(i) General. High net worth customer means: (A) Any natural person who, either individually or jointly with his or her spouse, has at least $5 million in net worth excluding the primary residence and associated liabilities of the person and, if applicable, his or her spouse; and (B) Any revocable, inter vivos or living trust the settlor of which is a natural person who, either individually or jointly with his or her spouse, meets the net worth standard set forth in paragraph (d)(1)(i)(A) of this section. (ii) Individual and spousal assets. In determining whether any person is a high net worth customer, there may be included in the assets of such person (A) Any assets held individually; (B) If the person is acting jointly with his or her spouse, any assets of the person's spouse (whether or not such assets are held jointly); and (C) If the person is not acting jointly with his or her spouse, fifty percent of any assets held jointly with such person's spouse and any assets in which such person shares with such person's spouse a community property or similar shared ownership interest. (2) Institutional customer means any corporation, partnership, limited liability company, trust or other non-natural person that has, or is controlled by a non-natural person that has, at least: (i) $10 million in investments; or (ii) $20 million in revenues; or (iii) $15 million in revenues if the bank employee refers the customer to the broker or dealer for investment banking services. (3) Investment banking services includes, without limitation, acting as an underwriter in an offering for an issuer; acting as a financial adviser in [[Page 645]] a merger, acquisition, tender offer or similar transaction; providing venture capital, equity lines of credit, private investment-private equity transactions or similar investments; serving as placement agent for an issuer; and engaging in similar activities. (4) Referral fee means a fee (paid in one or more installments) for the referral of a customer to a broker or dealer that is: (i) A predetermined dollar amount, or a dollar amount determined in accordance with a predetermined formula (such as a fixed percentage of the dollar amount of total assets placed in an account with the broker or dealer), that does not vary based on: (A) The revenue generated by or the profitability of securities transactions conducted by the customer with the broker or dealer; or (B) The quantity, price, or identity of securities transactions conducted over time by the customer with the broker or dealer; or (C) The number of customer referrals made; or (ii) A dollar amount based on a fixed percentage of the revenues received by the broker or dealer for investment banking services provided to the customer. (e) Inflation adjustments--(1) In general. On April 1, 2012, and on the 1st day of each subsequent 5-year period, each dollar amount in paragraphs (d)(1) and (d)(2) of this section shall be adjusted by: (i) Dividing the annual value of the Personal Consumption Expenditures Chain-Type Price Index (or any successor index thereto), as published by the Department of Commerce, for the calendar year preceding the calendar year in which the adjustment is being made by the annual value of such index (or successor) for the calendar year ending December 31, 2006; and (ii) Multiplying the dollar amount by the quotient obtained in paragraph (e)(1)(i) of this section. (2) Rounding. If the adjusted dollar amount determined under paragraph (e)(1) of this section for any period is not a multiple of $100,000, the amount so determined shall be rounded to the nearest multiple of $100,000. [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 73 FR 20780, Apr. 17, 2008] Sec. 218.721 Defined terms relating to the trust and fiduciary activities exception from the definition of ``broker.'' (a) Defined terms for chiefly compensated test. For purposes of this part and section 3(a)(4)(B)(ii) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)), the following terms shall have the meaning provided: (1) Chiefly compensated--account-by-account test. Chiefly compensated shall mean the relationship-total compensation percentage for each trust or fiduciary account of the bank is greater than 50 percent. (2) The relationship-total compensation percentage for a trust or fiduciary account shall be the mean of the yearly compensation percentage for the account for the immediately preceding year and the yearly compensation percentage for the account for the year immediately preceding that year. (3) The yearly compensation percentage for a trust or fiduciary account shall be (i) Equal to the relationship compensation attributable to the trust or fiduciary account during the year divided by the total compensation attributable to the trust or fiduciary account during that year, with the quotient expressed as a percentage; and (ii) Calculated within 60 days of the end of the year. (4) Relationship compensation means any compensation a bank receives attributable to a trust or fiduciary account that consists of: (i) An administration fee, including, without limitation, a fee paid-- (A) For personal services, tax preparation, or real estate settlement services; (B) For disbursing funds from, or for recording receipt of payments to, a trust or fiduciary account; (C) In connection with securities lending or borrowing transactions; (D) For custody services; or (E) In connection with an investment in shares of an investment company for personal service, the maintenance of shareholder accounts or any service described in paragraph (a)(4)(iii)(C) of this section; [[Page 646]] (ii) An annual fee (payable on a monthly, quarterly or other basis), including, without limitation, a fee paid for assessing investment performance or for reviewing compliance with applicable investment guidelines or restrictions; (iii) A fee based on a percentage of assets under management, including, without limitation, a fee paid (A) Pursuant to a plan under Sec. 270.12b-1; (B) In connection with an investment in shares of an investment company for personal service or the maintenance of shareholder accounts; (C) Based on a percentage of assets under management for any of the following services-- (1) Providing transfer agent or sub-transfer agent services for beneficial owners of investment company shares; (2) Aggregating and processing purchase and redemption orders for investment company shares; (3) Providing beneficial owners with account statements showing their purchases, sales, and positions in the investment company; (4) Processing dividend payments for the investment company; (5) Providing sub-accounting services to the investment company for shares held beneficially; (6) Forwarding communications from the investment company to the beneficial owners, including proxies, shareholder reports, dividend and tax notices, and updated prospectuses; or (7) Receiving, tabulating, and transmitting proxies executed by beneficial owners of investment company shares; (D) Based on the financial performance of the assets in an account; or (E) For the types of services described in paragraph (a)(4)(i)(C) or (D) of this section if paid based on a percentage of assets under management; (iv) A flat or capped per order processing fee, paid by or on behalf of a customer or beneficiary, that is equal to not more than the cost incurred by the bank in connection with executing securities transactions for trust or fiduciary accounts; or (v) Any combination of such fees. (5) Trust or fiduciary account means an account for which the bank acts in a trustee or fiduciary capacity as defined in section 3(a)(4)(D) of the Act (15 U.S.C. 78c(a)(4)(D)). (6) Year means a calendar year, or fiscal year consistently used by the bank for recordkeeping and reporting purposes. (b) Revenues derived from transactions conducted under other exceptions or exemptions. For purposes of calculating the yearly compensation percentage for a trust or fiduciary account, a bank may at its election exclude the compensation associated with any securities transaction conducted in accordance with the exceptions in section 3(a)(4)(B)(i) or sections 3(a)(4)(B)(iii)-(xi) of the Act (15 U.S.C. 78c(a)(4)(B)(i) or 78c(a)(4)(B)(iii)-(xi)) and the rules issued thereunder, including any exemption related to such exceptions jointly adopted by the Commission and the Board, provided that if the bank elects to exclude such compensation, the bank must exclude the compensation from both the relationship compensation (if applicable) and total compensation for the account. (c) Advertising restrictions-- (1) In general. A bank complies with the advertising restriction in section 3(a)(4)(B)(ii)(II) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)(II)) if advertisements by or on behalf of the bank do not advertise-- (i) That the bank provides securities brokerage services for trust or fiduciary accounts except as part of advertising the bank's broader trust or fiduciary services; and (ii) The securities brokerage services provided by the bank to trust or fiduciary accounts more prominently than the other aspects of the trust or fiduciary services provided to such accounts. (2) Advertisement. For purposes of this section, the term advertisement has the same meaning as in Sec. 218.760(h)(2). [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 73 FR 20780, Apr. 17, 2008] Sec. 218.722 Exemption allowing banks to calculate trust and fiduciary compensation on a bank-wide basis. (a) General. A bank is exempt from meeting the ``chiefly compensated'' condition in section 3(a)(4)(B)(ii)(I) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)(I)) to the extent that it effects transactions [[Page 647]] in securities for any account in a trustee or fiduciary capacity within the scope of section 3(a)(4)(D) of the Act (15 U.S.C. 78c(a)(4)(D)) if: (1) The bank meets the other conditions for the exception from the definition of the term ``broker'' under sections 3(a)(4)(B)(ii) and 3(a)(4)(C) of the Act (15 U.S.C. 78c(a)(4)(B)(ii) and 15 U.S.C. 78c(a)(4)(C)), including the advertising restrictions in section 3(a)(4)(B)(ii)(II) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)(II) as implemented by Sec. 218.721(c); and (2) The aggregate relationship-total compensation percentage for the bank's trust and fiduciary business is at least 70 percent. (b) Aggregate relationship-total compensation percentage. For purposes of this section, the aggregate relationship-total compensation percentage for a bank's trust and fiduciary business shall be the mean of the bank's yearly bank-wide compensation percentage for the immediately preceding year and the bank's yearly bank-wide compensation percentage for the year immediately preceding that year. (c) Yearly bank-wide compensation percentage. For purposes of this section, a bank's yearly bank-wide compensation percentage for a year shall be (1) Equal to the relationship compensation attributable to the bank's trust and fiduciary business as a whole during the year divided by the total compensation attributable to the bank's trust and fiduciary business as a whole during that year, with the quotient expressed as a percentage; and (2) Calculated within 60 days of the end of the year. (d) Revenues derived from transactions conducted under other exceptions or exemptions. For purposes of calculating the yearly compensation percentage for a trust or fiduciary account, a bank may at its election exclude the compensation associated with any securities transaction conducted in accordance with the exceptions in section 3(a)(4)(B)(i) or sections 3(a)(4)(B)(iii)-(xi) of the Act (15 U.S.C. 78c(a)(4)(B)(i) or 78c(a)(4)(B)(iii)-(xi)) and the rules issued thereunder, including any exemption related to such sections jointly adopted by the Commission and the Board, provided that if the bank elects to exclude such compensation, the bank must exclude the compensation from both the relationship compensation (if applicable) and total compensation of the bank. Sec. 218.723 Exemptions for special accounts, transferred accounts, foreign branches and a de minimis number of accounts. (a) Short-term accounts. A bank may, in determining its compliance with the chiefly compensated test in Sec. 218.721(a)(1) or Sec. 218.722(a)(2), exclude any trust or fiduciary account that had been open for a period of less than 3 months during the relevant year. (b) Accounts acquired as part of a business combination or asset acquisition. For purposes of determining compliance with the chiefly compensated test in Sec. 218.721(a)(1) or Sec. 218.722(a)(2), any trust or fiduciary account that a bank acquired from another person as part of a merger, consolidation, acquisition, purchase of assets or similar transaction may be excluded by the bank for 12 months after the date the bank acquired the account from the other person. (c) Non-shell foreign branches--(1) Exemption. For purposes of determining compliance with the chiefly compensated test in Sec. 218.722(a)(2), a bank may exclude the trust or fiduciary accounts held at a non-shell foreign branch of the bank if the bank has reasonable cause to believe that trust or fiduciary accounts of the foreign branch held by or for the benefit of a U.S. person as defined in 17 CFR 230.902(k) constitute less than 10 percent of the total number of trust or fiduciary accounts of the foreign branch. (2) Rules of construction. Solely for purposes of this paragraph (c), a bank will be deemed to have reasonable cause to believe that a trust or fiduciary account of a foreign branch of the bank is not held by or for the benefit of a U.S. person if (i) The principal mailing address maintained and used by the foreign branch for the accountholder(s) and beneficiary(ies) of the account is not in the United States; or (ii) The records of the foreign branch indicate that the accountholder(s) and beneficiary(ies) of the account is not a [[Page 648]] U.S. person as defined in 17 CFR 230.902(k). (3) Non-shell foreign branch. Solely for purposes of this paragraph (c), a non-shell foreign branch of a bank means a branch of the bank (i) That is located outside the United States and provides banking services to residents of the foreign jurisdiction in which the branch is located; and (ii) For which the decisions relating to day-to-day operations and business of the branch are made at that branch and are not made by an office of the bank located in the United States. (d) Accounts transferred to a broker or dealer or other unaffiliated entity. Notwithstanding section 3(a)(4)(B)(ii)(I) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)(I)) and Sec. 218.721(a)(1) of this part, a bank operating under Sec. 218.721(a)(1) shall not be considered a broker for purposes of section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) solely because a trust or fiduciary account does not meet the chiefly compensated standard in Sec. 218.721(a)(1) if, within 3 months of the end of the year in which the account fails to meet such standard, the bank transfers the account or the securities held by or on behalf of the account to a broker or dealer registered under section 15 of the Act (15 U.S.C. 78o) or another entity that is not an affiliate of the bank and is not required to be registered as a broker or dealer. (e) De minimis exclusion. A bank may, in determining its compliance with the chiefly compensated test in Sec. 218.721(a)(1), exclude a trust or fiduciary account if: (1) The bank maintains records demonstrating that the securities transactions conducted by or on behalf of the account were undertaken by the bank in the exercise of its trust or fiduciary responsibilities with respect to the account; (2) The total number of accounts excluded by the bank under this paragraph (d) does not exceed the lesser of-- (i) 1 percent of the total number of trust or fiduciary accounts held by the bank, provided that if the number so obtained is less than 1 the amount shall be rounded up to 1; or (ii) 500; and (3) The bank did not rely on this paragraph (e) with respect to such account during the immediately preceding year. [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 73 FR 20780, Apr. 17, 2008] Sec. 218.740 Defined terms relating to the sweep accounts exception from the definition of ``broker.'' For purposes of section 3(a)(4)(B)(v) of the Act (15 U.S.C. 78c(a)(4)(B)(v)), the following terms shall have the meaning provided: (a) Deferred sales load has the same meaning as in 17 CFR 270.6c-10. (b) Money market fund means an open-end company registered under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) that is regulated as a money market fund pursuant to 17 CFR 270.2a-7. (c)(1) No-load, in the context of an investment company or the securities issued by an investment company, means, for securities of the class or series in which a bank effects transactions, that: (i) That class or series is not subject to a sales load or a deferred sales load; and (ii) Total charges against net assets of that class or series of the investment company's securities for sales or sales promotion expenses, for personal service, or for the maintenance of shareholder accounts do not exceed 0.25 of 1% of average net assets annually. (2) For purposes of this definition, charges for the following will not be considered charges against net assets of a class or series of an investment company's securities for sales or sales promotion expenses, for personal service, or for the maintenance of shareholder accounts: (i) Providing transfer agent or sub-transfer agent services for beneficial owners of investment company shares; (ii) Aggregating and processing purchase and redemption orders for investment company shares; (iii) Providing beneficial owners with account statements showing their purchases, sales, and positions in the investment company; (iv) Processing dividend payments for the investment company; [[Page 649]] (v) Providing sub-accounting services to the investment company for shares held beneficially; (vi) Forwarding communications from the investment company to the beneficial owners, including proxies, shareholder reports, dividend and tax notices, and updated prospectuses; or (vii) Receiving, tabulating, and transmitting proxies executed by beneficial owners of investment company shares. (d) Open-end company has the same meaning as in section 5(a)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-5(a)(1)). (e) Sales load has the same meaning as in section 2(a)(35) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(35)). Sec. 218.741 Exemption for banks effecting transactions in money market funds. (a) A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) to the extent that it effects transactions on behalf of a customer in securities issued by a money market fund, provided that: (1) The bank either (i) Provides the customer, directly or indirectly, any other product or service, the provision of which would not, in and of itself, require the bank to register as a broker or dealer under section 15(a) of the Act (15 U.S.C. 78o(a)); or (ii) Effects the transactions on behalf of another bank as part of a program for the investment or reinvestment of deposit funds of, or collected by, the other bank; and (2)(i) The class or series of securities is no-load; or (ii) If the class or series of securities is not no-load (A) The bank or, if applicable, the other bank described in paragraph (a)(1)(B) of this section provides the customer, not later than at the time the customer authorizes the securities transactions, a prospectus for the securities; and (B) The bank and, if applicable, the other bank described in paragraph (a)(1)(B) of this section do not characterize or refer to the class or series of securities as no-load. (b) Definitions. For purposes of this section: (1) Money market fund has the same meaning as in Sec. 218.740(b). (2) No-load has the same meaning as in Sec. 218.740(c). [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 3 FR 20780, Apr. 17, 2008] Sec. 218.760 Exemption from definition of ``broker'' for banks accepting orders to effect transactions in securities from or on behalf of custody accounts. (a) Employee benefit plan accounts and individual retirement accounts or similar accounts. A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) to the extent that, as part of its customary banking activities, the bank accepts orders to effect transactions in securities for an employee benefit plan account or an individual retirement account or similar account for which the bank acts as a custodian if: (1) Employee compensation restriction and additional conditions. The bank complies with the employee compensation restrictions in paragraph (c) of this section and the other conditions in paragraph (d) of this section; (2) Advertisements. Advertisements by or on behalf of the bank do not: (i) Advertise that the bank accepts orders for securities transactions for employee benefit plan accounts or individual retirement accounts or similar accounts, except as part of advertising the other custodial or safekeeping services the bank provides to these accounts; or (ii) Advertise that such accounts are securities brokerage accounts or that the bank's safekeeping and custody services substitute for a securities brokerage account; and (3) Advertisements and sales literature for individual retirement or similar accounts. Advertisements and sales literature issued by or on behalf of the bank do not describe the securities order-taking services provided by the bank to individual retirement accounts or similar accounts more prominently than the other aspects of the custody [[Page 650]] or safekeeping services provided by the bank to these accounts. (b) Accommodation trades for other custodial accounts. A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) to the extent that, as part of its customary banking activities, the bank accepts orders to effect transactions in securities for an account for which the bank acts as custodian other than an employee benefit plan account or an individual retirement account or similar account if: (1) Accommodation. The bank accepts orders to effect transactions in securities for the account only as an accommodation to the customer; (2) Employee compensation restriction and additional conditions. The bank complies with the employee compensation restrictions in paragraph (c) of this section and the other conditions in paragraph (d) of this section; (3) Bank fees. Any fee charged or received by the bank for effecting a securities transaction for the account does not vary based on: (i) Whether the bank accepted the order for the transaction; or (ii) The quantity or price of the securities to be bought or sold; (4) Advertisements. Advertisements by or on behalf of the bank do not state that the bank accepts orders for securities transactions for the account; (5) Sales literature. Sales literature issued by or on behalf of the bank: (i) Does not state that the bank accepts orders for securities transactions for the account except as part of describing the other custodial or safekeeping services the bank provides to the account; and (ii) Does not describe the securities order-taking services provided to the account more prominently than the other aspects of the custody or safekeeping services provided by the bank to the account; and (6) Investment advice and recommendations. The bank does not provide investment advice or research concerning securities to the account, make recommendations to the account concerning securities or otherwise solicit securities transactions from the account; provided, however, that nothing in this paragraph (b)(6) shall prevent a bank from: (i) Publishing, using or disseminating advertisements and sales literature in accordance with paragraphs (b)(4) and (b)(5) of this section; and (ii) Responding to customer inquiries regarding the bank's safekeeping and custody services by providing: (A) Advertisements or sales literature consistent with the provisions of paragraphs (b)(4) and (b)(5) of this section describing the safekeeping, custody and related services that the bank offers; (B) A prospectus prepared by a registered investment company, or sales literature prepared by a registered investment company or by the broker or dealer that is the principal underwriter of the registered investment company pertaining to the registered investment company's products; (C) Information based on the materials described in paragraphs (b)(6)(ii)(A) and (B) of this section; or (iii) Responding to inquiries regarding the bank's safekeeping, custody or other services, such as inquiries concerning the customer's account or the availability of sweep or other services, so long as the bank does not provide investment advice or research concerning securities to the account or make a recommendation to the account concerning securities. (c) Employee compensation restriction. A bank may accept orders pursuant to this section for a securities transaction for an account described in paragraph (a) or (b) of this section only if no bank employee receives compensation, including a fee paid pursuant to a plan under 17 CFR 270.12b-1, from the bank, the executing broker or dealer, or any other person that is based on whether a securities transaction is executed for the account or that is based on the quantity, price, or identity of securities purchased or sold by such account, provided that nothing in this paragraph shall prohibit a bank employee from receiving compensation that would not be considered incentive compensation under Sec. 218.700(b)(1) as if a referral had been made by the bank employee, or any compensation described in Sec. 218.700(b)(2). [[Page 651]] (d) Other conditions. A bank may accept orders for a securities transaction for an account for which the bank acts as a custodian under this section only if the bank: (1) Does not act in a trustee or fiduciary capacity (as defined in section 3(a)(4)(D) of the Act (15 U.S.C. 78c(a)(4)(D)) with respect to the account, other than as a directed trustee; (2) Complies with section 3(a)(4)(C) of the Act (15 U.S.C. 78c(a)(4)(C)) in handling any order for a securities transaction for the account; and (3) Complies with section 3(a)(4)(B)(viii)(II) of the Act (15 U.S.C. 78c(a)(4)(B)(viii)(II)) regarding carrying broker activities. (e) Non-fiduciary administrators and recordkeepers. A bank that acts as a non-fiduciary and non-custodial administrator or recordkeeper for an employee benefit plan account for which another bank acts as custodian may rely on the exemption provided in this section if: (1) Both the custodian bank and the administrator or recordkeeper bank comply with paragraphs (a), (c) and (d) of this section; and (2) The administrator or recordkeeper bank does not execute a cross- trade with or for the employee benefit plan account or net orders for securities for the employee benefit plan account, other than: (i) Crossing or netting orders for shares of open-end investment companies not traded on an exchange, or (ii) Crossing orders between or netting orders for accounts of the custodian bank that contracted with the administrator or recordkeeper bank for services. (f) Subcustodians. A bank that acts as a subcustodian for an account for which another bank acts as custodian may rely on the exemptions provided in this section if: (1) For employee benefit plan accounts and individual retirement accounts or similar accounts, both the custodian bank and the subcustodian bank meet the requirements of paragraphs (a), (c) and (d) of this section; (2) For other custodial accounts, both the custodian bank and the subcustodian bank meet the requirements of paragraphs (b), (c) and (d) of this section; and (3) The subcustodian bank does not execute a cross-trade with or for the account or net orders for securities for the account, other than: (i) Crossing or netting orders for shares of open-end investment companies not traded on an exchange, or (ii) Crossing orders between or netting orders for accounts of the custodian bank. (g) Evasions. In considering whether a bank meets the terms of this section, both the form and substance of the relevant account(s), transaction(s) and activities (including advertising activities) of the bank will be considered in order to prevent evasions of the requirements of this section. (h) Definitions. When used in this section: (1) Account for which the bank acts as a custodian means an account that is: (i) An employee benefit plan account for which the bank acts as a custodian; (ii) An individual retirement account or similar account for which the bank acts as a custodian; (iii) An account established by a written agreement between the bank and the customer that sets forth the terms that will govern the fees payable to, and rights and obligations of, the bank regarding the safekeeping or custody of securities; or (iv) An account for which the bank acts as a directed trustee. (2) Advertisement means any material that is published or used in any electronic or other public media, including any Web site, newspaper, magazine or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or telephone directories (other than routine listings). (3) Directed trustee means a trustee that does not exercise investment discretion with respect to the account. (4) Employee benefit plan account means a pension plan, retirement plan, profit sharing plan, bonus plan, thrift savings plan, incentive plan, or other similar plan, including, without limitation, an employer- sponsored plan qualified under section 401(a) of the Internal Revenue Code (26 U.S.C. 401(a)), a governmental or other plan described in [[Page 652]] section 457 of the Internal Revenue Code (26 U.S.C. 457), a tax-deferred plan described in section 403(b) of the Internal Revenue Code (26 U.S.C. 403(b)), a church plan, governmental, multiemployer or other plan described in section 414(d), (e) or (f) of the Internal Revenue Code (26 U.S.C. 414(d), (e) or (f)), an incentive stock option plan described in section 422 of the Internal Revenue Code (26 U.S.C. 422); a Voluntary Employee Beneficiary Association Plan described in section 501(c)(9) of the Internal Revenue Code (26 U.S.C. 501(c)(9)), a non-qualified deferred compensation plan (including a rabbi or secular trust), a supplemental or mirror plan, and a supplemental unemployment benefit plan. (5) Individual retirement account or similar account means an individual retirement account as defined in section 408 of the Internal Revenue Code (26 U.S.C. 408), Roth IRA as defined in section 408A of the Internal Revenue Code (26 U.S.C. 408A), health savings account as defined in section 223(d) of the Internal Revenue Code (26 U.S.C. 223(d)), Archer medical savings account as defined in section 220(d) of the Internal Revenue Code (26 U.S.C. 220(d)), Coverdell education savings account as defined in section 530 of the Internal Revenue Code (26 U.S.C. 530), or other similar account. (6) Sales literature means any written or electronic communication, other than an advertisement, that is generally distributed or made generally available to customers of the bank or the public, including circulars, form letters, brochures, telemarketing scripts, seminar texts, published articles, and press releases concerning the bank's products or services. (7) Principal underwriter has the same meaning as in section 2(a)(29) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(29)). Sec. 218.771 Exemption from the definition of ``broker'' for banks effecting transactions in securities issued pursuant to Regulation S. (a) A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)), to the extent that, as agent, the bank: (1) Effects a sale in compliance with the requirements of 17 CFR 230.903 of an eligible security to a purchaser who is not in the United States; (2) Effects, by or on behalf of a person who is not a U.S. person under 17 CFR 230.902(k), a resale of an eligible security after its initial sale with a reasonable belief that the eligible security was initially sold outside of the United States within the meaning of and in compliance with the requirements of 17 CFR 230.903 to a purchaser who is not in the United States or a registered broker or dealer, provided that if the resale is made prior to the expiration of any applicable distribution compliance period specified in 17 CFR 230.903(b)(2) or (b)(3), the resale is made in compliance with the requirements of 17 CFR 230.904; or (3) Effects, by or on behalf of a registered broker or dealer, a resale of an eligible security after its initial sale with a reasonable belief that the eligible security was initially sold outside of the United States within the meaning of and in compliance with the requirements of 17 CFR 230.903 to a purchaser who is not in the United States, provided that if the resale is made prior to the expiration of any applicable distribution compliance period specified in 17 CFR 230.903(b)(2) or (b)(3), the resale is made in compliance with the requirements of 17 CFR 230.904. (b) Definitions. For purposes of this section: (1) Distributor has the same meaning as in 17 CFR 230.902(d). (2) Eligible security means a security that: (i) Is not being sold from the inventory of the bank or an affiliate of the bank; and (ii) Is not being underwritten by the bank or an affiliate of the bank on a firm-commitment basis, unless the bank acquired the security from an unaffiliated distributor that did not purchase the security from the bank or an affiliate of the bank. (3) Purchaser means a person who purchases an eligible security and who is not a U.S. person under 17 CFR 230.902(k). [[Page 653]] Sec. 218.772 Exemption from the definition of ``broker'' for banks engaging in securities lending transactions. (a) A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)), to the extent that, as an agent, it engages in or effects securities lending transactions, and any securities lending services in connection with such transactions, with or on behalf of a person the bank reasonably believes to be: (1) A qualified investor as defined in section 3(a)(54)(A) of the Act (15 U.S.C. 78c(a)(54)(A)); or (2) Any employee benefit plan that owns and invests on a discretionary basis, not less than $ 25,000,000 in investments. (b) Securities lending transaction means a transaction in which the owner of a security lends the security temporarily to another party pursuant to a written securities lending agreement under which the lender retains the economic interests of an owner of such securities, and has the right to terminate the transaction and to recall the loaned securities on terms agreed by the parties. (c) Securities lending services means: (1) Selecting and negotiating with a borrower and executing, or directing the execution of the loan with the borrower; (2) Receiving, delivering, or directing the receipt or delivery of loaned securities; (3) Receiving, delivering, or directing the receipt or delivery of collateral; (4) Providing mark-to-market, corporate action, recordkeeping or other services incidental to the administration of the securities lending transaction; (5) Investing, or directing the investment of, cash collateral; or (6) Indemnifying the lender of securities with respect to various matters. Sec. 218.775 Exemption from the definition of ``broker'' for banks effecting certain excepted or exempted transactions in investment company securities. (a) A bank that meets the conditions for an exception or exemption from the definition of the term ``broker'' except for the condition in section 3(a)(4)(C)(i) of the Act (15 U.S.C. 78c(a)(4)(C)(i)), is exempt from such condition to the extent that it effects a transaction in a covered security, if: (1) Any such security is neither traded on a national securities exchange nor through the facilities of a national securities association or an interdealer quotation system; (2) The security is distributed by a registered broker or dealer, or the sales charge is no more than the amount permissible for a security sold by a registered broker or dealer pursuant to any applicable rules adopted pursuant to section 22(b)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-22(b)(1)) by a securities association registered under section 15A of the Act (15 U.S.C. 78o-3); and (3) Any such transaction is effected: (i) Through the National Securities Clearing Corporation; or (ii) Directly with a transfer agent or with an insurance company or separate account that is excluded from the definition of transfer agent in Section 3(a)(25) of the Act. (b) Definitions. For purposes of this section: (1) Covered security means: (i) Any security issued by an open-end company, as defined by section 5(a)(1) of the Investment Company Act (15 U.S.C. 80a-5(a)(1)), that is registered under that Act; and (ii) Any variable insurance contract funded by a separate account, as defined by section 2(a)(37) of the Investment Company Act (15 U.S.C. 80a-2(a)(37)), that is registered under that Act. (2) Interdealer quotation system has the same meaning as in 17 CFR 240.15c2-11. (3) Insurance company has the same meaning as in 15 U.S.C. 77b(a)(13). [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 73 FR 20780, Apr. 17, 2008] Sec. 218.776 Exemption from the definition of ``broker'' for banks effecting certain excepted or exempted transactions in a company's securities for its employee benefit plans. (a) A bank that meets the conditions for an exception or exemption from the definition of the term ``broker'' except for the condition in section 3(a)(4)(C)(i) [[Page 654]] of the Act (15 U.S.C. 78c(a)(4)(C)(i)), is exempt from such condition to the extent that it effects a transaction in the securities of a company directly with a transfer agent acting for the company that issued the security, if: (1) No commission is charged with respect to the transaction; (2) The transaction is conducted by the bank solely for the benefit of an employee benefit plan account; (3) Any such security is obtained directly from: (i) The company; or (ii) An employee benefit plan of the company; and (4) Any such security is transferred only to: (i) The company; or (ii) An employee benefit plan of the company. (b) For purposes of this section, the term employee benefit plan account has the same meaning as in Sec. 218.760(h)(4). Sec. 218.780 Exemption for banks from liability under section 29 of the Securities Exchange Act of 1934. (a) No contract entered into before March 31, 2009, shall be void or considered voidable by reason of section 29(b) of the Act (15 U.S.C. 78cc(b)) because any bank that is a party to the contract violated the registration requirements of section 15(a) of the Act (15 U.S.C. 78o(a)), any other applicable provision of the Act, or the rules and regulations thereunder based solely on the bank's status as a broker when the contract was created. (b) No contract shall be void or considered voidable by reason of section 29(b) of the Act (15 U.S.C. 78cc(b)) because any bank that is a party to the contract violated the registration requirements of section 15(a) of the Act (15 U.S.C. 78o(a)) or the rules and regulations thereunder based solely on the bank's status as a broker when the contract was created, if: (1) At the time the contract was created, the bank acted in good faith and had reasonable policies and procedures in place to comply with section 3(a)(4)(B) of the Act (15 U.S.C. 78c(a)(4)(B)) and the rules and regulations thereunder; and (2) At the time the contract was created, any violation of the registration requirements of section 15(a) of the Act by the bank did not result in any significant harm or financial loss or cost to the person seeking to void the contract. Sec. 218.781 Exemption from the definition of ``broker'' for banks for a limited period of time. A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) until the first day of its first fiscal year commencing after September 30, 2008. PART 219_REIMBURSEMENT FOR PROVIDING FINANCIAL RECORDS; RECORDKEEPING REQUIREMENTS FOR CERTAIN FINANCIAL RECORDS (REGULATION S)- -Table of Contents Subpart A_Reimbursement to Financial Institutions for Providing Financial Records Sec. 219.1 Authority, purpose and scope. 219.2 Definitions. 219.3 Cost reimbursement. 219.4 Exceptions. 219.5 Conditions for payment. 219.6 Payment procedures. Subpart B_Recordkeeping and Reporting Requirements for Funds Transfers and Transmittals of Funds 219.21 Authority, purpose and scope. 219.22 Definitions. 219.23 Recordkeeping and reporting requirements. 219.24 Retention period. Authority: 12 U.S.C. 3415. Source: 44 FR 55813, Sept. 28, 1979, unless otherwise noted. Subpart A_Reimbursement to Financial Institutions for Providing Financial Records Sec. 219.1 Authority, purpose and scope. This subpart of Regulation S (12 CFR part 219, subpart A) is issued by the Board of Governors of the Federal Reserve System (the Board) under section 1115 of the Right to Financial Privacy Act (the Act) (12 U.S.C. 3415). It establishes the rates and conditions for reimbursement of reasonably necessary [[Page 655]] costs directly incurred by financial institutions in assembling or providing customer financial records to a government authority pursuant to the Act. [60 FR 233, Jan. 3, 1995] Sec. 219.2 Definitions. For the purposes of this subpart, the following definitions shall apply: Customer means any person or authorized representative of that person who uses any service of a financial institution, or for whom a financial institution acts or has acted as a fiduciary in relation to an account maintained in the person's name. Customer does not include corporations or partnerships comprised of more than five persons. Financial institution means any office of a bank, savings bank, card issuer as defined in section 103 of the Consumers Credit Protection Act (15 U.S.C. 1602(n)), industrial loan company, trust company, savings association, building and loan, or homestead association (including cooperative banks), credit union, or consumer finance institution, located in any State or territory of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, or the Virgin Islands. Financial record means an original or copy of, or information known to have been derived from, any record held by a financial institution pertaining to a customer's relationship with the financial institution. Government authority means any agency or department of the United States, or any officer, employee or agent thereof. Person means an individual or a partnership of five or fewer individuals. [Reg. S, 61 FR 29640, June 12, 1996] Sec. 219.3 Cost reimbursement. (a) Fees payable. (1) Except as provided in Sec. 219.4 of this part, a government authority seeking access to financial records pertaining to a customer, by written request, through: (i) A court order; (ii) A subpoena issued pursuant to the Federal Rules of Criminal Procedure or the Federal Rules of Civil Procedure; or (iii) Other agency administrative procedures, including administrative subpoenas, voluntary requests, or other process shall reimburse the financial institution for reasonably necessary costs directly incurred in searching for, reproducing or transporting books, papers, records, or other data as set forth in this section. (2) The reimbursement schedule for a financial institution is set forth in appendix A to this section. If a financial institution has financial records that are stored at an independent storage facility that charges a fee to search for, reproduce, or transport particular records requested, these costs are considered to be directly incurred by the financial institution and may be included in the reimbursement. (b) Search and processing costs. (1) Reimbursement of search and processing costs shall cover the total amount of personnel time spent in locating, retrieving, reproducing, and preparing financial records for shipment. Search and processing costs shall not cover analysis of material or legal advice. (2) If itemized separately, search and processing costs may include the actual cost of extracting electronically stored records, based on computer time and necessary supplies; however, personnel time for computer searches may be paid for at the rates set for computer support specialist, specified in appendix A to this section, but only when compliance with the request for information requires that the financial institution use programming or other higher level technical services of a computer support specialist in order to reproduce electronically stored information in the format requested by the government authority. (3) Rates for Search and Processing in appendix A shall be recalculated as follows on October 1, 2012, and on October 1 of each subsequent three-year period utilizing Bureau of Labor Statistics (``BLS'') data or equivalent data (as so designated by the Board) by replacing the existing hourly rates with the sum of: (i) Base labor rate recalculation--Using the most recently available wage data from the Occupational Employment Statistics program (http:// www.bls.gov/ [[Page 656]] oes/home.htm) for the BLS industry category ``Credit Intermediation and Related Activities'' (NAICS Code Number 522000) (or successor category): (A) [Clerical/Technical category] the average of the median hourly rates for the ``Information and Records Clerk'' and ``Computer Operator'' job categories (SOC Code Number 43-4199 and 43-9011) (or any successor job categories); (B) [Manager/Supervisor category] the median hourly rate for the ``first-line supervisors/managers of office'' job category (SOC Code Number 43-1011) (or successor category), and (C) [Computer Support Specialist category] the median hourly rate for the ``computer support specialist'' job category (SOC Code Number 15-1041) (or successor category); plus (ii) Benefits Adjustment--an amount for each hourly rate category that is equal to the product of: (A) The hourly rates set forth in paragraph (b)(3)(i) of this section, and (B) The most recently available ``percent of total compensation'' represented by ``total benefits'' for the ``Credit Intermediation and Related Activities'' industry category (private sector) set out in the Employment Cost Trends section of the National Compensation Survey (http://data.bls.gov/PDQ/outside.jsp?survey=cm); and (iii) If the recalculated rates for Search and Processing (including the Base labor rate and the benefits adjustment) are not a multiple of $1, the recalculated rates shall be rounded up to the next multiple of $1. (c) Reproduction costs. The reimbursement rates for reproduction costs for requested information are set forth in appendix A to this section, subject to the Conditions for Payment set forth in Sec. 219.5 of this part. Copies of photographs, films and other materials not listed in appendix A to this section are reimbursed at actual cost. (d) Transportation or delivery costs. Reimbursement for transportation or delivery costs shall be for the reasonably necessary costs directly incurred to transport personnel to locate and retrieve the requested information, and to deliver such material to the place of examination. Appendix A to Sec. 219.3--Reimbursement Schedule Reproduction: Photocopy, per page.................... $0.25 Paper copies of microfiche, per frame.. 0.25 Duplicate Microfiche, per microfiche... 0.50 Storage media.......................... Actual cost. Search and Processing: Clerical/Technical, hourly rate........ 22.00 Computer Support Specialist, hourly 30.00 rate. Manager/Supervisory, hourly rate....... 30.00 [Reg. S, 61 FR 29640, June 12, 1996, as amended at 74 FR 50107, Sept. 30, 2009] Sec. 219.4 Exceptions. A financial institution is not entitled to reimbursement under this subpart for costs incurred in assembling or providing financial records or information related to: (a) Security interests, bankruptcy claims, debt collection. Any financial records provided as an incident to perfecting a security interest, proving a claim in bankruptcy, or otherwise collecting on a debt owing either to the financial institution itself or in its role as a fiduciary. (b) Government loan programs. Financial records that are necessary to permit the appropriate government authority to carry out its responsibilities under a government loan, loan guaranty or loan insurance program. (c) Nonidentifiable information. Financial records that are not identified with or identifiable as being derived from the financial records of a particular customer. (d) Financial supervisory agencies. Financial records disclosed to a financial supervisory agency in the exercise of its supervisory, regulatory, or monetary functions with respect to a financial institution. (e) Internal Revenue summons. Financial records disclosed in accordance with procedures authorized by the Internal Revenue Code. (f) Federally required reports. Financial records required to be reported in accordance with any federal statute or rule promulgated thereunder. (g) Government civil or criminal litigation. Financial records sought by a government authority under the Federal Rules of Civil or Criminal Procedure or [[Page 657]] comparable rules of other courts in connection with litigation to which the government authority and the customer are parties. (h) Administrative agency subpoenas. Financial records sought by a government authority pursuant to an administrative subpoena issued by an administrative law judge in an adjudicatory proceeding subject to 5 U.S.C. 554, and to which the government authority and the customer are parties. (i) Investigation of financial institution or its noncustomer. Financial records sought by a government authority in connection with a lawful proceeding, investigation, examination, or inspection directed at the financial institution in possession of such records, or at an entity that is not a customer as defined in Sec. 219.2 of this part. (j) General Accounting Office requests. Financial records sought by the General Accounting Office pursuant to an authorized proceeding, investigation, examination, or audit directed at a government authority. (k) Federal Housing Finance Board requests. Financial records or information sought by the Federal Housing Finance Board (FHFB) or any of the Federal home loan banks in the exercise of the FHFB's authority to extend credit to financial institutions or others. (l) Department of Veterans Affairs. The disclosure of the name and address of any customer to the Department of Veterans Affairs where such disclosure is necessary to, and used solely for, the proper administration of benefits programs under laws administered by that Department. [Reg. S, 61 FR 29640, June 12, 1996] Sec. 219.5 Conditions for payment. (a) Direct costs. Payment shall be made only for costs that are both directly incurred and reasonably necessary to provide requested material. Search and processing, reproduction, and transportation or delivery costs shall be considered separately when determining whether the costs are reasonably necessary. Photocopying or microfiche charges are reasonably necessary only if the institution has reproduced financial records that were not stored electronically (i.e., where the information requested was stored only on paper or in microfiche), or where the government authority making the request has specifically asked for printed copies of electronically stored records. (b) Compliance with legal process, request, or authorization. No payment may be made to a financial institution until it satisfactorily complies with the legal process, the formal written request, or the customer authorization. When the legal process or formal written request is withdrawn, or the customer authorization is revoked, or where the customer successfully challenges disclosure to a grand jury or government authority, the financial institution shall be reimbursed for the reasonably necessary costs incurred in assembling the requested financial records prior to the time the financial institution is notified of such event. (c) Itemized bill or invoice. No reimbursement is required unless a financial institution submits an itemized bill or invoice specifically detailing its search and processing, reproduction, and transportation costs. Search and processing time should be billed in 15-minute increments. [Reg. S, 61 FR 29641, June 12, 1996, as amended at 74 FR 50108, Sept. 30, 2009] Sec. 219.6 Payment procedures. (a) Notice to submit invoice. Promptly following a service of legal process or request, the court or government authority shall notify the financial institution that it must submit an itemized bill or invoice in order to obtain payment and shall furnish an address for this purpose. (b) Special notice. If a grand jury or government authority withdraws the legal process or formal written request, or if the customer revokes the authorization, or if the legal process or request has been successfully challenged by the customer, the grand jury or government authority shall promptly notify the financial institution of these facts, and shall also notify the financial institution that it must submit an itemized bill or invoice in order to obtain payment of costs incurred prior to the time the financial institution receives this notice. [Reg. S, 61 FR 29641, June 12, 1996; 61 FR 32317, June 24, 1996] [[Page 658]] Subpart B_Recordkeeping and Reporting Requirements for Funds Transfers and Transmittals of Funds Authority: 12 U.S.C. 1829b(b)(2) and (3). Source: 60 FR 233, Jan. 3, 1995, unless otherwise noted. Sec. 219.21 Authority, purpose and scope. This subpart of Regulation S (12 CFR part 219, subpart B) is issued by the Board under the authority of section 21(b) of the Federal Deposit Insurance Act (12 U.S.C. 1829b), as amended by the Annunzio-Wylie Anti- Money Laundering Act of 1992 (Pub. L. 102-550, title XV; 106 Stat. 3672, 4044), which authorizes the Board and the Secretary of the Treasury jointly to prescribe recordkeeping and reporting requirements for domestic wire transfers by insured depository institutions; and which also requires the Board and the Treasury jointly to prescribe recordkeeping and reporting requirements for international wire transfers by insured depository institutions and by nonbank financial institutions. The definitions and recordkeeping and reporting requirements referenced in this subpart are promulgated and administered jointly by the Board and the Treasury and are codified in 31 CFR 1010.100, 1010.410(e), and 1020.410(a). This subpart does not apply to a particular person or class of persons or a particular transaction or class of transactions to the extent that the Treasury has determined that 31 CFR 1010.410(e) or 1020.410(a) do not apply to that person, transaction, or class of persons or transactions. These recordkeeping and reporting requirements will assist in the prosecution of money laundering activities and are determined to have a high degree of usefulness in criminal, tax or regulatory investigations or proceedings. [60 FR 233, Jan. 3, 1995, as amended by Reg. S, 61 FR 58975, Nov. 20, 1996; 77 FR 65097, Oct. 25, 2012] Sec. 219.22 Definitions. The following terms are defined in 31 CFR 1010.100 under the joint authority of the Board and the Treasury: Accept. Beneficiary. Beneficiary's bank. Established customer. Execution date. Funds transfer. Intermediary bank. Intermediary financial institution. Originator. Originator's bank. Payment date. Payment order. Receiving bank. Receiving financial institution. Recipient. Recipient's financial institution. Sender. Transmittal of funds. Transmittal order. Transmittor. Transmittor's financial institution. [60 FR 233, Jan. 3, 1995, as amended by Reg. S, 77 FR 65098, Oct. 25, 2012] Sec. 219.23 Recordkeeping and reporting requirements. (a) Domestic and international funds transfers by insured depository institutions. The Board and the Treasury are authorized to promulgate jointly recordkeeping and reporting requirements for domestic and international funds transfers by insured depository institutions whenever the agencies determine that the maintenance of such records has a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings. These regulations are codified at 31 CFR 1020.410(a). For the purposes of this subpart, the provisions of 31 CFR 1020.410(a) apply only to funds transfers by insured depository institutions. (b) International transmittals of funds by financial institutions other than insured depository institutions. The Board and the Treasury are required to promulgate jointly reporting and recordkeeping requirements for international transmittals of funds by financial institutions, including brokers and dealers in securities and businesses that provide money transmitting services. In prescribing these requirements, the Board and the Treasury take into account the usefulness of these records in criminal, tax, or regulatory investigations or proceedings and the effect the recordkeeping will have on the cost and efficiency of the payment system. These regulations are codified at 31 CFR 1010.410(e). For the purposes of [[Page 659]] this subpart, the provisions of 31 CFR 1010.410(e) apply only to international transmittals of funds. [60 FR 233, Jan. 3, 1995, as amended by Reg. S, 77 FR 65098, Oct. 25, 2012] Sec. 219.24 Retention period. All records that are required to be retained by this subpart shall be retained for a period of five years. All these records shall be filed or stored in such a way as to be accessible within a reasonable period of time, taking into consideration the nature of the record and the amount of time that has expired since the record was made. Any records required to be retained by this subpart shall be made available to the Board upon request. [[Page 661]] FINDING AIDS -------------------------------------------------------------------- A list of CFR titles, subtitles, chapters, subchapters and parts and an alphabetical list of agencies publishing in the CFR are included in the CFR Index and Finding Aids volume to the Code of Federal Regulations which is published separately and revised annually. Table of CFR Titles and Chapters Alphabetical List of Agencies Appearing in the CFR List of CFR Sections Affected [[Page 663]] Table of CFR Titles and Chapters (Revised as of January 1, 2023) Title 1--General Provisions I Administrative Committee of the Federal Register (Parts 1--49) II Office of the Federal Register (Parts 50--299) III Administrative Conference of the United States (Parts 300--399) IV Miscellaneous Agencies (Parts 400--599) VI National Capital Planning Commission (Parts 600--699) Title 2--Grants and Agreements Subtitle A--Office of Management and Budget Guidance for Grants and Agreements I Office of Management and Budget Governmentwide Guidance for Grants and Agreements (Parts 2--199) II Office of Management and Budget Guidance (Parts 200-- 299) Subtitle B--Federal Agency Regulations for Grants and Agreements III Department of Health and Human Services (Parts 300-- 399) IV Department of Agriculture (Parts 400--499) VI Department of State (Parts 600--699) VII Agency for International Development (Parts 700--799) VIII Department of Veterans Affairs (Parts 800--899) IX Department of Energy (Parts 900--999) X Department of the Treasury (Parts 1000--1099) XI Department of Defense (Parts 1100--1199) XII Department of Transportation (Parts 1200--1299) XIII Department of Commerce (Parts 1300--1399) XIV Department of the Interior (Parts 1400--1499) XV Environmental Protection Agency (Parts 1500--1599) XVIII National Aeronautics and Space Administration (Parts 1800--1899) XX United States Nuclear Regulatory Commission (Parts 2000--2099) XXII Corporation for National and Community Service (Parts 2200--2299) XXIII Social Security Administration (Parts 2300--2399) XXIV Department of Housing and Urban Development (Parts 2400--2499) XXV National Science Foundation (Parts 2500--2599) XXVI National Archives and Records Administration (Parts 2600--2699) [[Page 664]] XXVII Small Business Administration (Parts 2700--2799) XXVIII Department of Justice (Parts 2800--2899) XXIX Department of Labor (Parts 2900--2999) XXX Department of Homeland Security (Parts 3000--3099) XXXI Institute of Museum and Library Services (Parts 3100-- 3199) XXXII National Endowment for the Arts (Parts 3200--3299) XXXIII National Endowment for the Humanities (Parts 3300-- 3399) XXXIV Department of Education (Parts 3400--3499) XXXV Export-Import Bank of the United States (Parts 3500-- 3599) XXXVI Office of National Drug Control Policy, Executive Office of the President (Parts 3600--3699) XXXVII Peace Corps (Parts 3700--3799) LVIII Election Assistance Commission (Parts 5800--5899) LIX Gulf Coast Ecosystem Restoration Council (Parts 5900-- 5999) LX Federal Communications Commission (Parts 6000--6099) Title 3--The President I Executive Office of the President (Parts 100--199) Title 4--Accounts I Government Accountability Office (Parts 1--199) Title 5--Administrative Personnel I Office of Personnel Management (Parts 1--1199) II Merit Systems Protection Board (Parts 1200--1299) III Office of Management and Budget (Parts 1300--1399) IV Office of Personnel Management and Office of the Director of National Intelligence (Parts 1400-- 1499) V The International Organizations Employees Loyalty Board (Parts 1500--1599) VI Federal Retirement Thrift Investment Board (Parts 1600--1699) VIII Office of Special Counsel (Parts 1800--1899) IX Appalachian Regional Commission (Parts 1900--1999) XI Armed Forces Retirement Home (Parts 2100--2199) XIV Federal Labor Relations Authority, General Counsel of the Federal Labor Relations Authority and Federal Service Impasses Panel (Parts 2400--2499) XVI Office of Government Ethics (Parts 2600--2699) XXI Department of the Treasury (Parts 3100--3199) XXII Federal Deposit Insurance Corporation (Parts 3200-- 3299) XXIII Department of Energy (Parts 3300--3399) XXIV Federal Energy Regulatory Commission (Parts 3400-- 3499) XXV Department of the Interior (Parts 3500--3599) [[Page 665]] XXVI Department of Defense (Parts 3600--3699) XXVIII Department of Justice (Parts 3800--3899) XXIX Federal Communications Commission (Parts 3900--3999) XXX Farm Credit System Insurance Corporation (Parts 4000-- 4099) XXXI Farm Credit Administration (Parts 4100--4199) XXXIII U.S. International Development Finance Corporation (Parts 4300--4399) XXXIV Securities and Exchange Commission (Parts 4400--4499) XXXV Office of Personnel Management (Parts 4500--4599) XXXVI Department of Homeland Security (Parts 4600--4699) XXXVII Federal Election Commission (Parts 4700--4799) XL Interstate Commerce Commission (Parts 5000--5099) XLI Commodity Futures Trading Commission (Parts 5100-- 5199) XLII Department of Labor (Parts 5200--5299) XLIII National Science Foundation (Parts 5300--5399) XLV Department of Health and Human Services (Parts 5500-- 5599) XLVI Postal Rate Commission (Parts 5600--5699) XLVII Federal Trade Commission (Parts 5700--5799) XLVIII Nuclear Regulatory Commission (Parts 5800--5899) XLIX Federal Labor Relations Authority (Parts 5900--5999) L Department of Transportation (Parts 6000--6099) LII Export-Import Bank of the United States (Parts 6200-- 6299) LIII Department of Education (Parts 6300--6399) LIV Environmental Protection Agency (Parts 6400--6499) LV National Endowment for the Arts (Parts 6500--6599) LVI National Endowment for the Humanities (Parts 6600-- 6699) LVII General Services Administration (Parts 6700--6799) LVIII Board of Governors of the Federal Reserve System (Parts 6800--6899) LIX National Aeronautics and Space Administration (Parts 6900--6999) LX United States Postal Service (Parts 7000--7099) LXI National Labor Relations Board (Parts 7100--7199) LXII Equal Employment Opportunity Commission (Parts 7200-- 7299) LXIII Inter-American Foundation (Parts 7300--7399) LXIV Merit Systems Protection Board (Parts 7400--7499) LXV Department of Housing and Urban Development (Parts 7500--7599) LXVI National Archives and Records Administration (Parts 7600--7699) LXVII Institute of Museum and Library Services (Parts 7700-- 7799) LXVIII Commission on Civil Rights (Parts 7800--7899) LXIX Tennessee Valley Authority (Parts 7900--7999) LXX Court Services and Offender Supervision Agency for the District of Columbia (Parts 8000--8099) LXXI Consumer Product Safety Commission (Parts 8100--8199) [[Page 666]] LXXIII Department of Agriculture (Parts 8300--8399) LXXIV Federal Mine Safety and Health Review Commission (Parts 8400--8499) LXXVI Federal Retirement Thrift Investment Board (Parts 8600--8699) LXXVII Office of Management and Budget (Parts 8700--8799) LXXX Federal Housing Finance Agency (Parts 9000--9099) LXXXIII Special Inspector General for Afghanistan Reconstruction (Parts 9300--9399) LXXXIV Bureau of Consumer Financial Protection (Parts 9400-- 9499) LXXXVI National Credit Union Administration (Parts 9600-- 9699) XCVII Department of Homeland Security Human Resources Management System (Department of Homeland Security--Office of Personnel Management) (Parts 9700--9799) XCVIII Council of the Inspectors General on Integrity and Efficiency (Parts 9800--9899) XCIX Military Compensation and Retirement Modernization Commission (Parts 9900--9999) C National Council on Disability (Parts 10000--10049) CI National Mediation Board (Parts 10100--10199) CII U.S. Office of Special Counsel (Parts 10200--10299) Title 6--Domestic Security I Department of Homeland Security, Office of the Secretary (Parts 1--199) X Privacy and Civil Liberties Oversight Board (Parts 1000--1099) Title 7--Agriculture Subtitle A--Office of the Secretary of Agriculture (Parts 0--26) Subtitle B--Regulations of the Department of Agriculture I Agricultural Marketing Service (Standards, Inspections, Marketing Practices), Department of Agriculture (Parts 27--209) II Food and Nutrition Service, Department of Agriculture (Parts 210--299) III Animal and Plant Health Inspection Service, Department of Agriculture (Parts 300--399) IV Federal Crop Insurance Corporation, Department of Agriculture (Parts 400--499) V Agricultural Research Service, Department of Agriculture (Parts 500--599) VI Natural Resources Conservation Service, Department of Agriculture (Parts 600--699) VII Farm Service Agency, Department of Agriculture (Parts 700--799) VIII Agricultural Marketing Service (Federal Grain Inspection Service, Fair Trade Practices Program), Department of Agriculture (Parts 800--899) [[Page 667]] IX Agricultural Marketing Service (Marketing Agreements and Orders; Fruits, Vegetables, Nuts), Department of Agriculture (Parts 900--999) X Agricultural Marketing Service (Marketing Agreements and Orders; Milk), Department of Agriculture (Parts 1000--1199) XI Agricultural Marketing Service (Marketing Agreements and Orders; Miscellaneous Commodities), Department of Agriculture (Parts 1200--1299) XIV Commodity Credit Corporation, Department of Agriculture (Parts 1400--1499) XV Foreign Agricultural Service, Department of Agriculture (Parts 1500--1599) XVI [Reserved] XVII Rural Utilities Service, Department of Agriculture (Parts 1700--1799) XVIII Rural Housing Service, Rural Business-Cooperative Service, Rural Utilities Service, and Farm Service Agency, Department of Agriculture (Parts 1800-- 2099) XX [Reserved] XXV Office of Advocacy and Outreach, Department of Agriculture (Parts 2500--2599) XXVI Office of Inspector General, Department of Agriculture (Parts 2600--2699) XXVII Office of Information Resources Management, Department of Agriculture (Parts 2700--2799) XXVIII Office of Operations, Department of Agriculture (Parts 2800--2899) XXIX Office of Energy Policy and New Uses, Department of Agriculture (Parts 2900--2999) XXX Office of the Chief Financial Officer, Department of Agriculture (Parts 3000--3099) XXXI Office of Environmental Quality, Department of Agriculture (Parts 3100--3199) XXXII Office of Procurement and Property Management, Department of Agriculture (Parts 3200--3299) XXXIII Office of Transportation, Department of Agriculture (Parts 3300--3399) XXXIV National Institute of Food and Agriculture (Parts 3400--3499) XXXV Rural Housing Service, Department of Agriculture (Parts 3500--3599) XXXVI National Agricultural Statistics Service, Department of Agriculture (Parts 3600--3699) XXXVII Economic Research Service, Department of Agriculture (Parts 3700--3799) XXXVIII World Agricultural Outlook Board, Department of Agriculture (Parts 3800--3899) XLI [Reserved] XLII Rural Business-Cooperative Service and Rural Utilities Service, Department of Agriculture (Parts 4200-- 4299) [[Page 668]] L Rural Business-Cooperative Service, and Rural Utilities Service, Department of Agriculture (Parts 5000--5099) Title 8--Aliens and Nationality I Department of Homeland Security (Parts 1--499) V Executive Office for Immigration Review, Department of Justice (Parts 1000--1399) Title 9--Animals and Animal Products I Animal and Plant Health Inspection Service, Department of Agriculture (Parts 1--199) II Agricultural Marketing Service (Fair Trade Practices Program), Department of Agriculture (Parts 200-- 299) III Food Safety and Inspection Service, Department of Agriculture (Parts 300--599) Title 10--Energy I Nuclear Regulatory Commission (Parts 0--199) II Department of Energy (Parts 200--699) III Department of Energy (Parts 700--999) X Department of Energy (General Provisions) (Parts 1000--1099) XIII Nuclear Waste Technical Review Board (Parts 1300-- 1399) XVII Defense Nuclear Facilities Safety Board (Parts 1700-- 1799) XVIII Northeast Interstate Low-Level Radioactive Waste Commission (Parts 1800--1899) Title 11--Federal Elections I Federal Election Commission (Parts 1--9099) II Election Assistance Commission (Parts 9400--9499) Title 12--Banks and Banking I Comptroller of the Currency, Department of the Treasury (Parts 1--199) II Federal Reserve System (Parts 200--299) III Federal Deposit Insurance Corporation (Parts 300--399) IV Export-Import Bank of the United States (Parts 400-- 499) V [Reserved] VI Farm Credit Administration (Parts 600--699) VII National Credit Union Administration (Parts 700--799) VIII Federal Financing Bank (Parts 800--899) IX (Parts 900--999) [Reserved] X Bureau of Consumer Financial Protection (Parts 1000-- 1099) [[Page 669]] XI Federal Financial Institutions Examination Council (Parts 1100--1199) XII Federal Housing Finance Agency (Parts 1200--1299) XIII Financial Stability Oversight Council (Parts 1300-- 1399) XIV Farm Credit System Insurance Corporation (Parts 1400-- 1499) XV Department of the Treasury (Parts 1500--1599) XVI Office of Financial Research, Department of the Treasury (Parts 1600--1699) XVII Office of Federal Housing Enterprise Oversight, Department of Housing and Urban Development (Parts 1700--1799) XVIII Community Development Financial Institutions Fund, Department of the Treasury (Parts 1800--1899) Title 13--Business Credit and Assistance I Small Business Administration (Parts 1--199) III Economic Development Administration, Department of Commerce (Parts 300--399) IV Emergency Steel Guarantee Loan Board (Parts 400--499) V Emergency Oil and Gas Guaranteed Loan Board (Parts 500--599) Title 14--Aeronautics and Space I Federal Aviation Administration, Department of Transportation (Parts 1--199) II Office of the Secretary, Department of Transportation (Aviation Proceedings) (Parts 200--399) III Commercial Space Transportation, Federal Aviation Administration, Department of Transportation (Parts 400--1199) V National Aeronautics and Space Administration (Parts 1200--1299) VI Air Transportation System Stabilization (Parts 1300-- 1399) Title 15--Commerce and Foreign Trade Subtitle A--Office of the Secretary of Commerce (Parts 0--29) Subtitle B--Regulations Relating to Commerce and Foreign Trade I Bureau of the Census, Department of Commerce (Parts 30--199) II National Institute of Standards and Technology, Department of Commerce (Parts 200--299) III International Trade Administration, Department of Commerce (Parts 300--399) IV Foreign-Trade Zones Board, Department of Commerce (Parts 400--499) VII Bureau of Industry and Security, Department of Commerce (Parts 700--799) [[Page 670]] VIII Bureau of Economic Analysis, Department of Commerce (Parts 800--899) IX National Oceanic and Atmospheric Administration, Department of Commerce (Parts 900--999) XI National Technical Information Service, Department of Commerce (Parts 1100--1199) XIII East-West Foreign Trade Board (Parts 1300--1399) XIV Minority Business Development Agency (Parts 1400-- 1499) XV Office of the Under-Secretary for Economic Affairs, Department of Commerce (Parts 1500--1599) Subtitle C--Regulations Relating to Foreign Trade Agreements XX Office of the United States Trade Representative (Parts 2000--2099) Subtitle D--Regulations Relating to Telecommunications and Information XXIII National Telecommunications and Information Administration, Department of Commerce (Parts 2300--2399) [Reserved] Title 16--Commercial Practices I Federal Trade Commission (Parts 0--999) II Consumer Product Safety Commission (Parts 1000--1799) Title 17--Commodity and Securities Exchanges I Commodity Futures Trading Commission (Parts 1--199) II Securities and Exchange Commission (Parts 200--399) IV Department of the Treasury (Parts 400--499) Title 18--Conservation of Power and Water Resources I Federal Energy Regulatory Commission, Department of Energy (Parts 1--399) III Delaware River Basin Commission (Parts 400--499) VI Water Resources Council (Parts 700--799) VIII Susquehanna River Basin Commission (Parts 800--899) XIII Tennessee Valley Authority (Parts 1300--1399) Title 19--Customs Duties I U.S. Customs and Border Protection, Department of Homeland Security; Department of the Treasury (Parts 0--199) II United States International Trade Commission (Parts 200--299) III International Trade Administration, Department of Commerce (Parts 300--399) IV U.S. Immigration and Customs Enforcement, Department of Homeland Security (Parts 400--599) [Reserved] [[Page 671]] Title 20--Employees' Benefits I Office of Workers' Compensation Programs, Department of Labor (Parts 1--199) II Railroad Retirement Board (Parts 200--399) III Social Security Administration (Parts 400--499) IV Employees' Compensation Appeals Board, Department of Labor (Parts 500--599) V Employment and Training Administration, Department of Labor (Parts 600--699) VI Office of Workers' Compensation Programs, Department of Labor (Parts 700--799) VII Benefits Review Board, Department of Labor (Parts 800--899) VIII Joint Board for the Enrollment of Actuaries (Parts 900--999) IX Office of the Assistant Secretary for Veterans' Employment and Training Service, Department of Labor (Parts 1000--1099) Title 21--Food and Drugs I Food and Drug Administration, Department of Health and Human Services (Parts 1--1299) II Drug Enforcement Administration, Department of Justice (Parts 1300--1399) III Office of National Drug Control Policy (Parts 1400-- 1499) Title 22--Foreign Relations I Department of State (Parts 1--199) II Agency for International Development (Parts 200--299) III Peace Corps (Parts 300--399) IV International Joint Commission, United States and Canada (Parts 400--499) V United States Agency for Global Media (Parts 500--599) VII U.S. International Development Finance Corporation (Parts 700--799) IX Foreign Service Grievance Board (Parts 900--999) X Inter-American Foundation (Parts 1000--1099) XI International Boundary and Water Commission, United States and Mexico, United States Section (Parts 1100--1199) XII United States International Development Cooperation Agency (Parts 1200--1299) XIII Millennium Challenge Corporation (Parts 1300--1399) XIV Foreign Service Labor Relations Board; Federal Labor Relations Authority; General Counsel of the Federal Labor Relations Authority; and the Foreign Service Impasse Disputes Panel (Parts 1400--1499) XV African Development Foundation (Parts 1500--1599) XVI Japan-United States Friendship Commission (Parts 1600--1699) XVII United States Institute of Peace (Parts 1700--1799) [[Page 672]] Title 23--Highways I Federal Highway Administration, Department of Transportation (Parts 1--999) II National Highway Traffic Safety Administration and Federal Highway Administration, Department of Transportation (Parts 1200--1299) III National Highway Traffic Safety Administration, Department of Transportation (Parts 1300--1399) Title 24--Housing and Urban Development Subtitle A--Office of the Secretary, Department of Housing and Urban Development (Parts 0--99) Subtitle B--Regulations Relating to Housing and Urban Development I Office of Assistant Secretary for Equal Opportunity, Department of Housing and Urban Development (Parts 100--199) II Office of Assistant Secretary for Housing-Federal Housing Commissioner, Department of Housing and Urban Development (Parts 200--299) III Government National Mortgage Association, Department of Housing and Urban Development (Parts 300--399) IV Office of Housing and Office of Multifamily Housing Assistance Restructuring, Department of Housing and Urban Development (Parts 400--499) V Office of Assistant Secretary for Community Planning and Development, Department of Housing and Urban Development (Parts 500--599) VI Office of Assistant Secretary for Community Planning and Development, Department of Housing and Urban Development (Parts 600--699) [Reserved] VII Office of the Secretary, Department of Housing and Urban Development (Housing Assistance Programs and Public and Indian Housing Programs) (Parts 700-- 799) VIII Office of the Assistant Secretary for Housing--Federal Housing Commissioner, Department of Housing and Urban Development (Section 8 Housing Assistance Programs, Section 202 Direct Loan Program, Section 202 Supportive Housing for the Elderly Program and Section 811 Supportive Housing for Persons With Disabilities Program) (Parts 800--899) IX Office of Assistant Secretary for Public and Indian Housing, Department of Housing and Urban Development (Parts 900--1699) X Office of Assistant Secretary for Housing--Federal Housing Commissioner, Department of Housing and Urban Development (Interstate Land Sales Registration Program) (Parts 1700--1799) [Reserved] XII Office of Inspector General, Department of Housing and Urban Development (Parts 2000--2099) XV Emergency Mortgage Insurance and Loan Programs, Department of Housing and Urban Development (Parts 2700--2799) [Reserved] [[Page 673]] XX Office of Assistant Secretary for Housing--Federal Housing Commissioner, Department of Housing and Urban Development (Parts 3200--3899) XXIV Board of Directors of the HOPE for Homeowners Program (Parts 4000--4099) [Reserved] XXV Neighborhood Reinvestment Corporation (Parts 4100-- 4199) Title 25--Indians I Bureau of Indian Affairs, Department of the Interior (Parts 1--299) II Indian Arts and Crafts Board, Department of the Interior (Parts 300--399) III National Indian Gaming Commission, Department of the Interior (Parts 500--599) IV Office of Navajo and Hopi Indian Relocation (Parts 700--899) V Bureau of Indian Affairs, Department of the Interior, and Indian Health Service, Department of Health and Human Services (Part 900--999) VI Office of the Assistant Secretary, Indian Affairs, Department of the Interior (Parts 1000--1199) VII Office of the Special Trustee for American Indians, Department of the Interior (Parts 1200--1299) Title 26--Internal Revenue I Internal Revenue Service, Department of the Treasury (Parts 1--End) Title 27--Alcohol, Tobacco Products and Firearms I Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury (Parts 1--399) II Bureau of Alcohol, Tobacco, Firearms, and Explosives, Department of Justice (Parts 400--799) Title 28--Judicial Administration I Department of Justice (Parts 0--299) III Federal Prison Industries, Inc., Department of Justice (Parts 300--399) V Bureau of Prisons, Department of Justice (Parts 500-- 599) VI Offices of Independent Counsel, Department of Justice (Parts 600--699) VII Office of Independent Counsel (Parts 700--799) VIII Court Services and Offender Supervision Agency for the District of Columbia (Parts 800--899) IX National Crime Prevention and Privacy Compact Council (Parts 900--999) [[Page 674]] XI Department of Justice and Department of State (Parts 1100--1199) Title 29--Labor Subtitle A--Office of the Secretary of Labor (Parts 0--99) Subtitle B--Regulations Relating to Labor I National Labor Relations Board (Parts 100--199) II Office of Labor-Management Standards, Department of Labor (Parts 200--299) III National Railroad Adjustment Board (Parts 300--399) IV Office of Labor-Management Standards, Department of Labor (Parts 400--499) V Wage and Hour Division, Department of Labor (Parts 500--899) IX Construction Industry Collective Bargaining Commission (Parts 900--999) X National Mediation Board (Parts 1200--1299) XII Federal Mediation and Conciliation Service (Parts 1400--1499) XIV Equal Employment Opportunity Commission (Parts 1600-- 1699) XVII Occupational Safety and Health Administration, Department of Labor (Parts 1900--1999) XX Occupational Safety and Health Review Commission (Parts 2200--2499) XXV Employee Benefits Security Administration, Department of Labor (Parts 2500--2599) XXVII Federal Mine Safety and Health Review Commission (Parts 2700--2799) XL Pension Benefit Guaranty Corporation (Parts 4000-- 4999) Title 30--Mineral Resources I Mine Safety and Health Administration, Department of Labor (Parts 1--199) II Bureau of Safety and Environmental Enforcement, Department of the Interior (Parts 200--299) IV Geological Survey, Department of the Interior (Parts 400--499) V Bureau of Ocean Energy Management, Department of the Interior (Parts 500--599) VII Office of Surface Mining Reclamation and Enforcement, Department of the Interior (Parts 700--999) XII Office of Natural Resources Revenue, Department of the Interior (Parts 1200--1299) Title 31--Money and Finance: Treasury Subtitle A--Office of the Secretary of the Treasury (Parts 0--50) Subtitle B--Regulations Relating to Money and Finance [[Page 675]] I Monetary Offices, Department of the Treasury (Parts 51--199) II Fiscal Service, Department of the Treasury (Parts 200--399) IV Secret Service, Department of the Treasury (Parts 400--499) V Office of Foreign Assets Control, Department of the Treasury (Parts 500--599) VI Bureau of Engraving and Printing, Department of the Treasury (Parts 600--699) VII Federal Law Enforcement Training Center, Department of the Treasury (Parts 700--799) VIII Office of Investment Security, Department of the Treasury (Parts 800--899) IX Federal Claims Collection Standards (Department of the Treasury--Department of Justice) (Parts 900--999) X Financial Crimes Enforcement Network, Department of the Treasury (Parts 1000--1099) Title 32--National Defense Subtitle A--Department of Defense I Office of the Secretary of Defense (Parts 1--399) V Department of the Army (Parts 400--699) VI Department of the Navy (Parts 700--799) VII Department of the Air Force (Parts 800--1099) Subtitle B--Other Regulations Relating to National Defense XII Department of Defense, Defense Logistics Agency (Parts 1200--1299) XVI Selective Service System (Parts 1600--1699) XVII Office of the Director of National Intelligence (Parts 1700--1799) XVIII National Counterintelligence Center (Parts 1800--1899) XIX Central Intelligence Agency (Parts 1900--1999) XX Information Security Oversight Office, National Archives and Records Administration (Parts 2000-- 2099) XXI National Security Council (Parts 2100--2199) XXIV Office of Science and Technology Policy (Parts 2400-- 2499) XXVII Office for Micronesian Status Negotiations (Parts 2700--2799) XXVIII Office of the Vice President of the United States (Parts 2800--2899) Title 33--Navigation and Navigable Waters I Coast Guard, Department of Homeland Security (Parts 1--199) II Corps of Engineers, Department of the Army, Department of Defense (Parts 200--399) IV Great Lakes St. Lawrence Seaway Development Corporation, Department of Transportation (Parts 400--499) [[Page 676]] Title 34--Education Subtitle A--Office of the Secretary, Department of Education (Parts 1--99) Subtitle B--Regulations of the Offices of the Department of Education I Office for Civil Rights, Department of Education (Parts 100--199) II Office of Elementary and Secondary Education, Department of Education (Parts 200--299) III Office of Special Education and Rehabilitative Services, Department of Education (Parts 300--399) IV Office of Career, Technical, and Adult Education, Department of Education (Parts 400--499) V Office of Bilingual Education and Minority Languages Affairs, Department of Education (Parts 500--599) [Reserved] VI Office of Postsecondary Education, Department of Education (Parts 600--699) VII Office of Educational Research and Improvement, Department of Education (Parts 700--799) [Reserved] Subtitle C--Regulations Relating to Education XI [Reserved] XII National Council on Disability (Parts 1200--1299) Title 35 [Reserved] Title 36--Parks, Forests, and Public Property I National Park Service, Department of the Interior (Parts 1--199) II Forest Service, Department of Agriculture (Parts 200-- 299) III Corps of Engineers, Department of the Army (Parts 300--399) IV American Battle Monuments Commission (Parts 400--499) V Smithsonian Institution (Parts 500--599) VI [Reserved] VII Library of Congress (Parts 700--799) VIII Advisory Council on Historic Preservation (Parts 800-- 899) IX Pennsylvania Avenue Development Corporation (Parts 900--999) X Presidio Trust (Parts 1000--1099) XI Architectural and Transportation Barriers Compliance Board (Parts 1100--1199) XII National Archives and Records Administration (Parts 1200--1299) XV Oklahoma City National Memorial Trust (Parts 1500-- 1599) XVI Morris K. Udall Scholarship and Excellence in National Environmental Policy Foundation (Parts 1600--1699) Title 37--Patents, Trademarks, and Copyrights I United States Patent and Trademark Office, Department of Commerce (Parts 1--199) II U.S. Copyright Office, Library of Congress (Parts 200--299) [[Page 677]] III Copyright Royalty Board, Library of Congress (Parts 300--399) IV National Institute of Standards and Technology, Department of Commerce (Parts 400--599) Title 38--Pensions, Bonuses, and Veterans' Relief I Department of Veterans Affairs (Parts 0--199) II Armed Forces Retirement Home (Parts 200--299) Title 39--Postal Service I United States Postal Service (Parts 1--999) III Postal Regulatory Commission (Parts 3000--3099) Title 40--Protection of Environment I Environmental Protection Agency (Parts 1--1099) IV Environmental Protection Agency and Department of Justice (Parts 1400--1499) V Council on Environmental Quality (Parts 1500--1599) VI Chemical Safety and Hazard Investigation Board (Parts 1600--1699) VII Environmental Protection Agency and Department of Defense; Uniform National Discharge Standards for Vessels of the Armed Forces (Parts 1700--1799) VIII Gulf Coast Ecosystem Restoration Council (Parts 1800-- 1899) IX Federal Permitting Improvement Steering Council (Part 1900) Title 41--Public Contracts and Property Management Subtitle A--Federal Procurement Regulations System [Note] Subtitle B--Other Provisions Relating to Public Contracts 50 Public Contracts, Department of Labor (Parts 50-1--50- 999) 51 Committee for Purchase From People Who Are Blind or Severely Disabled (Parts 51-1--51-99) 60 Office of Federal Contract Compliance Programs, Equal Employment Opportunity, Department of Labor (Parts 60-1--60-999) 61 Office of the Assistant Secretary for Veterans' Employment and Training Service, Department of Labor (Parts 61-1--61-999) 62--100 [Reserved] Subtitle C--Federal Property Management Regulations System 101 Federal Property Management Regulations (Parts 101-1-- 101-99) 102 Federal Management Regulation (Parts 102-1--102-299) 103--104 [Reserved] 105 General Services Administration (Parts 105-1--105-999) [[Page 678]] 109 Department of Energy Property Management Regulations (Parts 109-1--109-99) 114 Department of the Interior (Parts 114-1--114-99) 115 Environmental Protection Agency (Parts 115-1--115-99) 128 Department of Justice (Parts 128-1--128-99) 129--200 [Reserved] Subtitle D--Federal Acquisition Supply Chain Security 201 Federal Acquisition Security Council (Parts 201-1-- 201-99) Subtitle E [Reserved] Subtitle F--Federal Travel Regulation System 300 General (Parts 300-1--300-99) 301 Temporary Duty (TDY) Travel Allowances (Parts 301-1-- 301-99) 302 Relocation Allowances (Parts 302-1--302-99) 303 Payment of Expenses Connected with the Death of Certain Employees (Part 303-1--303-99) 304 Payment of Travel Expenses from a Non-Federal Source (Parts 304-1--304-99) Title 42--Public Health I Public Health Service, Department of Health and Human Services (Parts 1--199) II--III [Reserved] IV Centers for Medicare & Medicaid Services, Department of Health and Human Services (Parts 400--699) V Office of Inspector General-Health Care, Department of Health and Human Services (Parts 1000--1099) Title 43--Public Lands: Interior Subtitle A--Office of the Secretary of the Interior (Parts 1--199) Subtitle B--Regulations Relating to Public Lands I Bureau of Reclamation, Department of the Interior (Parts 400--999) II Bureau of Land Management, Department of the Interior (Parts 1000--9999) III Utah Reclamation Mitigation and Conservation Commission (Parts 10000--10099) Title 44--Emergency Management and Assistance I Federal Emergency Management Agency, Department of Homeland Security (Parts 0--399) IV Department of Commerce and Department of Transportation (Parts 400--499) [[Page 679]] Title 45--Public Welfare Subtitle A--Department of Health and Human Services (Parts 1--199) Subtitle B--Regulations Relating to Public Welfare II Office of Family Assistance (Assistance Programs), Administration for Children and Families, Department of Health and Human Services (Parts 200--299) III Office of Child Support Enforcement (Child Support Enforcement Program), Administration for Children and Families, Department of Health and Human Services (Parts 300--399) IV Office of Refugee Resettlement, Administration for Children and Families, Department of Health and Human Services (Parts 400--499) V Foreign Claims Settlement Commission of the United States, Department of Justice (Parts 500--599) VI National Science Foundation (Parts 600--699) VII Commission on Civil Rights (Parts 700--799) VIII Office of Personnel Management (Parts 800--899) IX Denali Commission (Parts 900--999) X Office of Community Services, Administration for Children and Families, Department of Health and Human Services (Parts 1000--1099) XI National Foundation on the Arts and the Humanities (Parts 1100--1199) XII Corporation for National and Community Service (Parts 1200--1299) XIII Administration for Children and Families, Department of Health and Human Services (Parts 1300--1399) XVI Legal Services Corporation (Parts 1600--1699) XVII National Commission on Libraries and Information Science (Parts 1700--1799) XVIII Harry S. Truman Scholarship Foundation (Parts 1800-- 1899) XXI Commission of Fine Arts (Parts 2100--2199) XXIII Arctic Research Commission (Parts 2300--2399) XXIV James Madison Memorial Fellowship Foundation (Parts 2400--2499) XXV Corporation for National and Community Service (Parts 2500--2599) Title 46--Shipping I Coast Guard, Department of Homeland Security (Parts 1--199) II Maritime Administration, Department of Transportation (Parts 200--399) III Coast Guard (Great Lakes Pilotage), Department of Homeland Security (Parts 400--499) IV Federal Maritime Commission (Parts 500--599) [[Page 680]] Title 47--Telecommunication I Federal Communications Commission (Parts 0--199) II Office of Science and Technology Policy and National Security Council (Parts 200--299) III National Telecommunications and Information Administration, Department of Commerce (Parts 300--399) IV National Telecommunications and Information Administration, Department of Commerce, and National Highway Traffic Safety Administration, Department of Transportation (Parts 400--499) V The First Responder Network Authority (Parts 500--599) Title 48--Federal Acquisition Regulations System 1 Federal Acquisition Regulation (Parts 1--99) 2 Defense Acquisition Regulations System, Department of Defense (Parts 200--299) 3 Department of Health and Human Services (Parts 300-- 399) 4 Department of Agriculture (Parts 400--499) 5 General Services Administration (Parts 500--599) 6 Department of State (Parts 600--699) 7 Agency for International Development (Parts 700--799) 8 Department of Veterans Affairs (Parts 800--899) 9 Department of Energy (Parts 900--999) 10 Department of the Treasury (Parts 1000--1099) 12 Department of Transportation (Parts 1200--1299) 13 Department of Commerce (Parts 1300--1399) 14 Department of the Interior (Parts 1400--1499) 15 Environmental Protection Agency (Parts 1500--1599) 16 Office of Personnel Management Federal Employees Health Benefits Acquisition Regulation (Parts 1600--1699) 17 Office of Personnel Management (Parts 1700--1799) 18 National Aeronautics and Space Administration (Parts 1800--1899) 19 Broadcasting Board of Governors (Parts 1900--1999) 20 Nuclear Regulatory Commission (Parts 2000--2099) 21 Office of Personnel Management, Federal Employees Group Life Insurance Federal Acquisition Regulation (Parts 2100--2199) 23 Social Security Administration (Parts 2300--2399) 24 Department of Housing and Urban Development (Parts 2400--2499) 25 National Science Foundation (Parts 2500--2599) 28 Department of Justice (Parts 2800--2899) 29 Department of Labor (Parts 2900--2999) 30 Department of Homeland Security, Homeland Security Acquisition Regulation (HSAR) (Parts 3000--3099) 34 Department of Education Acquisition Regulation (Parts 3400--3499) [[Page 681]] 51 Department of the Army Acquisition Regulations (Parts 5100--5199) [Reserved] 52 Department of the Navy Acquisition Regulations (Parts 5200--5299) 53 Department of the Air Force Federal Acquisition Regulation Supplement (Parts 5300--5399) [Reserved] 54 Defense Logistics Agency, Department of Defense (Parts 5400--5499) 57 African Development Foundation (Parts 5700--5799) 61 Civilian Board of Contract Appeals, General Services Administration (Parts 6100--6199) 99 Cost Accounting Standards Board, Office of Federal Procurement Policy, Office of Management and Budget (Parts 9900--9999) Title 49--Transportation Subtitle A--Office of the Secretary of Transportation (Parts 1--99) Subtitle B--Other Regulations Relating to Transportation I Pipeline and Hazardous Materials Safety Administration, Department of Transportation (Parts 100--199) II Federal Railroad Administration, Department of Transportation (Parts 200--299) III Federal Motor Carrier Safety Administration, Department of Transportation (Parts 300--399) IV Coast Guard, Department of Homeland Security (Parts 400--499) V National Highway Traffic Safety Administration, Department of Transportation (Parts 500--599) VI Federal Transit Administration, Department of Transportation (Parts 600--699) VII National Railroad Passenger Corporation (AMTRAK) (Parts 700--799) VIII National Transportation Safety Board (Parts 800--999) X Surface Transportation Board (Parts 1000--1399) XI Research and Innovative Technology Administration, Department of Transportation (Parts 1400--1499) [Reserved] XII Transportation Security Administration, Department of Homeland Security (Parts 1500--1699) Title 50--Wildlife and Fisheries I United States Fish and Wildlife Service, Department of the Interior (Parts 1--199) II National Marine Fisheries Service, National Oceanic and Atmospheric Administration, Department of Commerce (Parts 200--299) III International Fishing and Related Activities (Parts 300--399) [[Page 682]] IV Joint Regulations (United States Fish and Wildlife Service, Department of the Interior and National Marine Fisheries Service, National Oceanic and Atmospheric Administration, Department of Commerce); Endangered Species Committee Regulations (Parts 400--499) V Marine Mammal Commission (Parts 500--599) VI Fishery Conservation and Management, National Oceanic and Atmospheric Administration, Department of Commerce (Parts 600--699) [[Page 683]] Alphabetical List of Agencies Appearing in the CFR (Revised as of January 1, 2023) CFR Title, Subtitle or Agency Chapter Administrative Conference of the United States 1, III Advisory Council on Historic Preservation 36, VIII Advocacy and Outreach, Office of 7, XXV Afghanistan Reconstruction, Special Inspector 5, LXXXIII General for African Development Foundation 22, XV Federal Acquisition Regulation 48, 57 Agency for International Development 2, VII; 22, II Federal Acquisition Regulation 48, 7 Agricultural Marketing Service 7, I, VIII, IX, X, XI; 9, II Agricultural Research Service 7, V Agriculture, Department of 2, IV; 5, LXXIII Advocacy and Outreach, Office of 7, XXV Agricultural Marketing Service 7, I, VIII, IX, X, XI; 9, II Agricultural Research Service 7, V Animal and Plant Health Inspection Service 7, III; 9, I Chief Financial Officer, Office of 7, XXX Commodity Credit Corporation 7, XIV Economic Research Service 7, XXXVII Energy Policy and New Uses, Office of 2, IX; 7, XXIX Environmental Quality, Office of 7, XXXI Farm Service Agency 7, VII, XVIII Federal Acquisition Regulation 48, 4 Federal Crop Insurance Corporation 7, IV Food and Nutrition Service 7, II Food Safety and Inspection Service 9, III Foreign Agricultural Service 7, XV Forest Service 36, II Information Resources Management, Office of 7, XXVII Inspector General, Office of 7, XXVI National Agricultural Library 7, XLI National Agricultural Statistics Service 7, XXXVI National Institute of Food and Agriculture 7, XXXIV Natural Resources Conservation Service 7, VI Operations, Office of 7, XXVIII Procurement and Property Management, Office of 7, XXXII Rural Business-Cooperative Service 7, XVIII, XLII Rural Development Administration 7, XLII Rural Housing Service 7, XVIII, XXXV Rural Utilities Service 7, XVII, XVIII, XLII Secretary of Agriculture, Office of 7, Subtitle A Transportation, Office of 7, XXXIII World Agricultural Outlook Board 7, XXXVIII Air Force, Department of 32, VII Federal Acquisition Regulation Supplement 48, 53 Air Transportation Stabilization Board 14, VI Alcohol and Tobacco Tax and Trade Bureau 27, I Alcohol, Tobacco, Firearms, and Explosives, 27, II Bureau of AMTRAK 49, VII American Battle Monuments Commission 36, IV American Indians, Office of the Special Trustee 25, VII Animal and Plant Health Inspection Service 7, III; 9, I Appalachian Regional Commission 5, IX Architectural and Transportation Barriers 36, XI Compliance Board [[Page 684]] Arctic Research Commission 45, XXIII Armed Forces Retirement Home 5, XI; 38, II Army, Department of 32, V Engineers, Corps of 33, II; 36, III Federal Acquisition Regulation 48, 51 Benefits Review Board 20, VII Bilingual Education and Minority Languages 34, V Affairs, Office of Blind or Severely Disabled, Committee for 41, 51 Purchase from People Who Are Federal Acquisition Regulation 48, 19 Career, Technical, and Adult Education, Office 34, IV of Census Bureau 15, I Centers for Medicare & Medicaid Services 42, IV Central Intelligence Agency 32, XIX Chemical Safety and Hazard Investigation Board 40, VI Chief Financial Officer, Office of 7, XXX Child Support Enforcement, Office of 45, III Children and Families, Administration for 45, II, III, IV, X, XIII Civil Rights, Commission on 5, LXVIII; 45, VII Civil Rights, Office for 34, I Coast Guard 33, I; 46, I; 49, IV Coast Guard (Great Lakes Pilotage) 46, III Commerce, Department of 2, XIII; 44, IV; 50, VI Census Bureau 15, I Economic Affairs, Office of the Under- 15, XV Secretary for Economic Analysis, Bureau of 15, VIII Economic Development Administration 13, III Emergency Management and Assistance 44, IV Federal Acquisition Regulation 48, 13 Foreign-Trade Zones Board 15, IV Industry and Security, Bureau of 15, VII International Trade Administration 15, III; 19, III National Institute of Standards and Technology 15, II; 37, IV National Marine Fisheries Service 50, II, IV National Oceanic and Atmospheric 15, IX; 50, II, III, IV, Administration VI National Technical Information Service 15, XI National Telecommunications and Information 15, XXIII; 47, III, IV Administration National Weather Service 15, IX Patent and Trademark Office, United States 37, I Secretary of Commerce, Office of 15, Subtitle A Commercial Space Transportation 14, III Commodity Credit Corporation 7, XIV Commodity Futures Trading Commission 5, XLI; 17, I Community Planning and Development, Office of 24, V, VI Assistant Secretary for Community Services, Office of 45, X Comptroller of the Currency 12, I Construction Industry Collective Bargaining 29, IX Commission Consumer Financial Protection Bureau 5, LXXXIV; 12, X Consumer Product Safety Commission 5, LXXI; 16, II Copyright Royalty Board 37, III Corporation for National and Community Service 2, XXII; 45, XII, XXV Cost Accounting Standards Board 48, 99 Council on Environmental Quality 40, V Council of the Inspectors General on Integrity 5, XCVIII and Efficiency Court Services and Offender Supervision Agency 5, LXX; 28, VIII for the District of Columbia Customs and Border Protection 19, I Defense, Department of 2, XI; 5, XXVI; 32, Subtitle A; 40, VII Advanced Research Projects Agency 32, I Air Force Department 32, VII Army Department 32, V; 33, II; 36, III; 48, 51 Defense Acquisition Regulations System 48, 2 Defense Intelligence Agency 32, I [[Page 685]] Defense Logistics Agency 32, I, XII; 48, 54 Engineers, Corps of 33, II; 36, III National Imagery and Mapping Agency 32, I Navy, Department of 32, VI; 48, 52 Secretary of Defense, Office of 2, XI; 32, I Defense Contract Audit Agency 32, I Defense Intelligence Agency 32, I Defense Logistics Agency 32, XII; 48, 54 Defense Nuclear Facilities Safety Board 10, XVII Delaware River Basin Commission 18, III Denali Commission 45, IX Disability, National Council on 5, C; 34, XII District of Columbia, Court Services and 5, LXX; 28, VIII Offender Supervision Agency for the Drug Enforcement Administration 21, II East-West Foreign Trade Board 15, XIII Economic Affairs, Office of the Under-Secretary 15, XV for Economic Analysis, Bureau of 15, VIII Economic Development Administration 13, III Economic Research Service 7, XXXVII Education, Department of 2, XXXIV; 5, LIII Bilingual Education and Minority Languages 34, V Affairs, Office of Career, Technical, and Adult Education, Office 34, IV of Civil Rights, Office for 34, I Educational Research and Improvement, Office 34, VII of Elementary and Secondary Education, Office of 34, II Federal Acquisition Regulation 48, 34 Postsecondary Education, Office of 34, VI Secretary of Education, Office of 34, Subtitle A Special Education and Rehabilitative Services, 34, III Office of Educational Research and Improvement, Office of 34, VII Election Assistance Commission 2, LVIII; 11, II Elementary and Secondary Education, Office of 34, II Emergency Oil and Gas Guaranteed Loan Board 13, V Emergency Steel Guarantee Loan Board 13, IV Employee Benefits Security Administration 29, XXV Employees' Compensation Appeals Board 20, IV Employees Loyalty Board 5, V Employment and Training Administration 20, V Employment Policy, National Commission for 1, IV Employment Standards Administration 20, VI Endangered Species Committee 50, IV Energy, Department of 2, IX; 5, XXIII; 10, II, III, X Federal Acquisition Regulation 48, 9 Federal Energy Regulatory Commission 5, XXIV; 18, I Property Management Regulations 41, 109 Energy, Office of 7, XXIX Engineers, Corps of 33, II; 36, III Engraving and Printing, Bureau of 31, VI Environmental Protection Agency 2, XV; 5, LIV; 40, I, IV, VII Federal Acquisition Regulation 48, 15 Property Management Regulations 41, 115 Environmental Quality, Office of 7, XXXI Equal Employment Opportunity Commission 5, LXII; 29, XIV Equal Opportunity, Office of Assistant Secretary 24, I for Executive Office of the President 3, I Environmental Quality, Council on 40, V Management and Budget, Office of 2, Subtitle A; 5, III, LXXVII; 14, VI; 48, 99 National Drug Control Policy, Office of 2, XXXVI; 21, III National Security Council 32, XXI; 47, II Science and Technology Policy, Office of 32, XXIV; 47, II Trade Representative, Office of the United 15, XX States Export-Import Bank of the United States 2, XXXV; 5, LII; 12, IV [[Page 686]] Family Assistance, Office of 45, II Farm Credit Administration 5, XXXI; 12, VI Farm Credit System Insurance Corporation 5, XXX; 12, XIV Farm Service Agency 7, VII, XVIII Federal Acquisition Regulation 48, 1 Federal Acquisition Security Council 41, 201 Federal Aviation Administration 14, I Commercial Space Transportation 14, III Federal Claims Collection Standards 31, IX Federal Communications Commission 2, LX; 5, XXIX; 47, I Federal Contract Compliance Programs, Office of 41, 60 Federal Crop Insurance Corporation 7, IV Federal Deposit Insurance Corporation 5, XXII; 12, III Federal Election Commission 5, XXXVII; 11, I Federal Emergency Management Agency 44, I Federal Employees Group Life Insurance Federal 48, 21 Acquisition Regulation Federal Employees Health Benefits Acquisition 48, 16 Regulation Federal Energy Regulatory Commission 5, XXIV; 18, I Federal Financial Institutions Examination 12, XI Council Federal Financing Bank 12, VIII Federal Highway Administration 23, I, II Federal Home Loan Mortgage Corporation 1, IV Federal Housing Enterprise Oversight Office 12, XVII Federal Housing Finance Agency 5, LXXX; 12, XII Federal Labor Relations Authority 5, XIV, XLIX; 22, XIV Federal Law Enforcement Training Center 31, VII Federal Management Regulation 41, 102 Federal Maritime Commission 46, IV Federal Mediation and Conciliation Service 29, XII Federal Mine Safety and Health Review Commission 5, LXXIV; 29, XXVII Federal Motor Carrier Safety Administration 49, III Federal Permitting Improvement Steering Council 40, IX Federal Prison Industries, Inc. 28, III Federal Procurement Policy Office 48, 99 Federal Property Management Regulations 41, 101 Federal Railroad Administration 49, II Federal Register, Administrative Committee of 1, I Federal Register, Office of 1, II Federal Reserve System 12, II Board of Governors 5, LVIII Federal Retirement Thrift Investment Board 5, VI, LXXVI Federal Service Impasses Panel 5, XIV Federal Trade Commission 5, XLVII; 16, I Federal Transit Administration 49, VI Federal Travel Regulation System 41, Subtitle F Financial Crimes Enforcement Network 31, X Financial Research Office 12, XVI Financial Stability Oversight Council 12, XIII Fine Arts, Commission of 45, XXI Fiscal Service 31, II Fish and Wildlife Service, United States 50, I, IV Food and Drug Administration 21, I Food and Nutrition Service 7, II Food Safety and Inspection Service 9, III Foreign Agricultural Service 7, XV Foreign Assets Control, Office of 31, V Foreign Claims Settlement Commission of the 45, V United States Foreign Service Grievance Board 22, IX Foreign Service Impasse Disputes Panel 22, XIV Foreign Service Labor Relations Board 22, XIV Foreign-Trade Zones Board 15, IV Forest Service 36, II General Services Administration 5, LVII; 41, 105 Contract Appeals, Board of 48, 61 Federal Acquisition Regulation 48, 5 Federal Management Regulation 41, 102 [[Page 687]] Federal Property Management Regulations 41, 101 Federal Travel Regulation System 41, Subtitle F General 41, 300 Payment From a Non-Federal Source for Travel 41, 304 Expenses Payment of Expenses Connected With the Death 41, 303 of Certain Employees Relocation Allowances 41, 302 Temporary Duty (TDY) Travel Allowances 41, 301 Geological Survey 30, IV Government Accountability Office 4, I Government Ethics, Office of 5, XVI Government National Mortgage Association 24, III Grain Inspection, Packers and Stockyards 7, VIII; 9, II Administration Great Lakes St. Lawrence Seaway Development 33, IV Corporation Gulf Coast Ecosystem Restoration Council 2, LIX; 40, VIII Harry S. Truman Scholarship Foundation 45, XVIII Health and Human Services, Department of 2, III; 5, XLV; 45, Subtitle A Centers for Medicare & Medicaid Services 42, IV Child Support Enforcement, Office of 45, III Children and Families, Administration for 45, II, III, IV, X, XIII Community Services, Office of 45, X Family Assistance, Office of 45, II Federal Acquisition Regulation 48, 3 Food and Drug Administration 21, I Indian Health Service 25, V Inspector General (Health Care), Office of 42, V Public Health Service 42, I Refugee Resettlement, Office of 45, IV Homeland Security, Department of 2, XXX; 5, XXXVI; 6, I; 8, I Coast Guard 33, I; 46, I; 49, IV Coast Guard (Great Lakes Pilotage) 46, III Customs and Border Protection 19, I Federal Emergency Management Agency 44, I Human Resources Management and Labor Relations 5, XCVII Systems Immigration and Customs Enforcement Bureau 19, IV Transportation Security Administration 49, XII HOPE for Homeowners Program, Board of Directors 24, XXIV of Housing and Urban Development, Department of 2, XXIV; 5, LXV; 24, Subtitle B Community Planning and Development, Office of 24, V, VI Assistant Secretary for Equal Opportunity, Office of Assistant 24, I Secretary for Federal Acquisition Regulation 48, 24 Federal Housing Enterprise Oversight, Office 12, XVII of Government National Mortgage Association 24, III Housing--Federal Housing Commissioner, Office 24, II, VIII, X, XX of Assistant Secretary for Housing, Office of, and Multifamily Housing 24, IV Assistance Restructuring, Office of Inspector General, Office of 24, XII Public and Indian Housing, Office of Assistant 24, IX Secretary for Secretary, Office of 24, Subtitle A, VII Housing--Federal Housing Commissioner, Office of 24, II, VIII, X, XX Assistant Secretary for Housing, Office of, and Multifamily Housing 24, IV Assistance Restructuring, Office of Immigration and Customs Enforcement Bureau 19, IV Immigration Review, Executive Office for 8, V Independent Counsel, Office of 28, VII Independent Counsel, Offices of 28, VI Indian Affairs, Bureau of 25, I, V Indian Affairs, Office of the Assistant 25, VI Secretary Indian Arts and Crafts Board 25, II Indian Health Service 25, V [[Page 688]] Industry and Security, Bureau of 15, VII Information Resources Management, Office of 7, XXVII Information Security Oversight Office, National 32, XX Archives and Records Administration Inspector General Agriculture Department 7, XXVI Health and Human Services Department 42, V Housing and Urban Development Department 24, XII, XV Institute of Peace, United States 22, XVII Inter-American Foundation 5, LXIII; 22, X Interior, Department of 2, XIV American Indians, Office of the Special 25, VII Trustee Endangered Species Committee 50, IV Federal Acquisition Regulation 48, 14 Federal Property Management Regulations System 41, 114 Fish and Wildlife Service, United States 50, I, IV Geological Survey 30, IV Indian Affairs, Bureau of 25, I, V Indian Affairs, Office of the Assistant 25, VI Secretary Indian Arts and Crafts Board 25, II Land Management, Bureau of 43, II National Indian Gaming Commission 25, III National Park Service 36, I Natural Resource Revenue, Office of 30, XII Ocean Energy Management, Bureau of 30, V Reclamation, Bureau of 43, I Safety and Environmental Enforcement, Bureau 30, II of Secretary of the Interior, Office of 2, XIV; 43, Subtitle A Surface Mining Reclamation and Enforcement, 30, VII Office of Internal Revenue Service 26, I International Boundary and Water Commission, 22, XI United States and Mexico, United States Section International Development, United States Agency 22, II for Federal Acquisition Regulation 48, 7 International Development Cooperation Agency, 22, XII United States International Development Finance Corporation, 5, XXXIII; 22, VII U.S. International Joint Commission, United States 22, IV and Canada International Organizations Employees Loyalty 5, V Board International Trade Administration 15, III; 19, III International Trade Commission, United States 19, II Interstate Commerce Commission 5, XL Investment Security, Office of 31, VIII James Madison Memorial Fellowship Foundation 45, XXIV Japan-United States Friendship Commission 22, XVI Joint Board for the Enrollment of Actuaries 20, VIII Justice, Department of 2, XXVIII; 5, XXVIII; 28, I, XI; 40, IV Alcohol, Tobacco, Firearms, and Explosives, 27, II Bureau of Drug Enforcement Administration 21, II Federal Acquisition Regulation 48, 28 Federal Claims Collection Standards 31, IX Federal Prison Industries, Inc. 28, III Foreign Claims Settlement Commission of the 45, V United States Immigration Review, Executive Office for 8, V Independent Counsel, Offices of 28, VI Prisons, Bureau of 28, V Property Management Regulations 41, 128 Labor, Department of 2, XXIX; 5, XLII Benefits Review Board 20, VII Employee Benefits Security Administration 29, XXV Employees' Compensation Appeals Board 20, IV Employment and Training Administration 20, V Federal Acquisition Regulation 48, 29 Federal Contract Compliance Programs, Office 41, 60 of Federal Procurement Regulations System 41, 50 [[Page 689]] Labor-Management Standards, Office of 29, II, IV Mine Safety and Health Administration 30, I Occupational Safety and Health Administration 29, XVII Public Contracts 41, 50 Secretary of Labor, Office of 29, Subtitle A Veterans' Employment and Training Service, 41, 61; 20, IX Office of the Assistant Secretary for Wage and Hour Division 29, V Workers' Compensation Programs, Office of 20, I, VI Labor-Management Standards, Office of 29, II, IV Land Management, Bureau of 43, II Legal Services Corporation 45, XVI Libraries and Information Science, National 45, XVII Commission on Library of Congress 36, VII Copyright Royalty Board 37, III U.S. Copyright Office 37, II Management and Budget, Office of 5, III, LXXVII; 14, VI; 48, 99 Marine Mammal Commission 50, V Maritime Administration 46, II Merit Systems Protection Board 5, II, LXIV Micronesian Status Negotiations, Office for 32, XXVII Military Compensation and Retirement 5, XCIX Modernization Commission Millennium Challenge Corporation 22, XIII Mine Safety and Health Administration 30, I Minority Business Development Agency 15, XIV Miscellaneous Agencies 1, IV Monetary Offices 31, I Morris K. Udall Scholarship and Excellence in 36, XVI National Environmental Policy Foundation Museum and Library Services, Institute of 2, XXXI National Aeronautics and Space Administration 2, XVIII; 5, LIX; 14, V Federal Acquisition Regulation 48, 18 National Agricultural Library 7, XLI National Agricultural Statistics Service 7, XXXVI National and Community Service, Corporation for 2, XXII; 45, XII, XXV National Archives and Records Administration 2, XXVI; 5, LXVI; 36, XII Information Security Oversight Office 32, XX National Capital Planning Commission 1, IV, VI National Counterintelligence Center 32, XVIII National Credit Union Administration 5, LXXXVI; 12, VII National Crime Prevention and Privacy Compact 28, IX Council National Drug Control Policy, Office of 2, XXXVI; 21, III National Endowment for the Arts 2, XXXII National Endowment for the Humanities 2, XXXIII National Foundation on the Arts and the 45, XI Humanities National Geospatial-Intelligence Agency 32, I National Highway Traffic Safety Administration 23, II, III; 47, VI; 49, V National Imagery and Mapping Agency 32, I National Indian Gaming Commission 25, III National Institute of Food and Agriculture 7, XXXIV National Institute of Standards and Technology 15, II; 37, IV National Intelligence, Office of Director of 5, IV; 32, XVII National Labor Relations Board 5, LXI; 29, I National Marine Fisheries Service 50, II, IV National Mediation Board 5, CI; 29, X National Oceanic and Atmospheric Administration 15, IX; 50, II, III, IV, VI National Park Service 36, I National Railroad Adjustment Board 29, III National Railroad Passenger Corporation (AMTRAK) 49, VII National Science Foundation 2, XXV; 5, XLIII; 45, VI Federal Acquisition Regulation 48, 25 National Security Council 32, XXI; 47, II National Technical Information Service 15, XI National Telecommunications and Information 15, XXIII; 47, III, IV, V Administration [[Page 690]] National Transportation Safety Board 49, VIII Natural Resource Revenue, Office of 30, XII Natural Resources Conservation Service 7, VI Navajo and Hopi Indian Relocation, Office of 25, IV Navy, Department of 32, VI Federal Acquisition Regulation 48, 52 Neighborhood Reinvestment Corporation 24, XXV Northeast Interstate Low-Level Radioactive Waste 10, XVIII Commission Nuclear Regulatory Commission 2, XX; 5, XLVIII; 10, I Federal Acquisition Regulation 48, 20 Occupational Safety and Health Administration 29, XVII Occupational Safety and Health Review Commission 29, XX Ocean Energy Management, Bureau of 30, V Oklahoma City National Memorial Trust 36, XV Operations Office 7, XXVIII Patent and Trademark Office, United States 37, I Payment From a Non-Federal Source for Travel 41, 304 Expenses Payment of Expenses Connected With the Death of 41, 303 Certain Employees Peace Corps 2, XXXVII; 22, III Pennsylvania Avenue Development Corporation 36, IX Pension Benefit Guaranty Corporation 29, XL Personnel Management, Office of 5, I, IV, XXXV; 45, VIII Federal Acquisition Regulation 48, 17 Federal Employees Group Life Insurance Federal 48, 21 Acquisition Regulation Federal Employees Health Benefits Acquisition 48, 16 Regulation Human Resources Management and Labor Relations 5, XCVII Systems, Department of Homeland Security Pipeline and Hazardous Materials Safety 49, I Administration Postal Regulatory Commission 5, XLVI; 39, III Postal Service, United States 5, LX; 39, I Postsecondary Education, Office of 34, VI President's Commission on White House 1, IV Fellowships Presidio Trust 36, X Prisons, Bureau of 28, V Privacy and Civil Liberties Oversight Board 6, X Procurement and Property Management, Office of 7, XXXII Public and Indian Housing, Office of Assistant 24, IX Secretary for Public Contracts, Department of Labor 41, 50 Public Health Service 42, I Railroad Retirement Board 20, II Reclamation, Bureau of 43, I Refugee Resettlement, Office of 45, IV Relocation Allowances 41, 302 Research and Innovative Technology 49, XI Administration Rural Business-Cooperative Service 7, XVIII, XLII, L Rural Development Administration 7, XLII Rural Housing Service 7, XVIII, XXXV, L Rural Utilities Service 7, XVII, XVIII, XLII, L Safety and Environmental Enforcement, Bureau of 30, II Science and Technology Policy, Office of 32, XXIV; 47, II Secret Service 31, IV Securities and Exchange Commission 5, XXXIV; 17, II Selective Service System 32, XVI Small Business Administration 2, XXVII; 13, I Smithsonian Institution 36, V Social Security Administration 2, XXIII; 20, III; 48, 23 Soldiers' and Airmen's Home, United States 5, XI Special Counsel, Office of 5, VIII Special Education and Rehabilitative Services, 34, III Office of State, Department of 2, VI; 22, I; 28, XI Federal Acquisition Regulation 48, 6 Surface Mining Reclamation and Enforcement, 30, VII Office of Surface Transportation Board 49, X Susquehanna River Basin Commission 18, VIII [[Page 691]] Tennessee Valley Authority 5, LXIX; 18, XIII Trade Representative, United States, Office of 15, XX Transportation, Department of 2, XII; 5, L Commercial Space Transportation 14, III Emergency Management and Assistance 44, IV Federal Acquisition Regulation 48, 12 Federal Aviation Administration 14, I Federal Highway Administration 23, I, II Federal Motor Carrier Safety Administration 49, III Federal Railroad Administration 49, II Federal Transit Administration 49, VI Great Lakes St. Lawrence Seaway Development 33, IV Corporation Maritime Administration 46, II National Highway Traffic Safety Administration 23, II, III; 47, IV; 49, V Pipeline and Hazardous Materials Safety 49, I Administration Secretary of Transportation, Office of 14, II; 49, Subtitle A Transportation Statistics Bureau 49, XI Transportation, Office of 7, XXXIII Transportation Security Administration 49, XII Transportation Statistics Bureau 49, XI Travel Allowances, Temporary Duty (TDY) 41, 301 Treasury, Department of the 2, X; 5, XXI; 12, XV; 17, IV; 31, IX Alcohol and Tobacco Tax and Trade Bureau 27, I Community Development Financial Institutions 12, XVIII Fund Comptroller of the Currency 12, I Customs and Border Protection 19, I Engraving and Printing, Bureau of 31, VI Federal Acquisition Regulation 48, 10 Federal Claims Collection Standards 31, IX Federal Law Enforcement Training Center 31, VII Financial Crimes Enforcement Network 31, X Fiscal Service 31, II Foreign Assets Control, Office of 31, V Internal Revenue Service 26, I Investment Security, Office of 31, VIII Monetary Offices 31, I Secret Service 31, IV Secretary of the Treasury, Office of 31, Subtitle A Truman, Harry S. Scholarship Foundation 45, XVIII United States Agency for Global Media 22, V United States and Canada, International Joint 22, IV Commission United States and Mexico, International Boundary 22, XI and Water Commission, United States Section U.S. Copyright Office 37, II U.S. Office of Special Counsel 5, CII Utah Reclamation Mitigation and Conservation 43, III Commission Veterans Affairs, Department of 2, VIII; 38, I Federal Acquisition Regulation 48, 8 Veterans' Employment and Training Service, 41, 61; 20, IX Office of the Assistant Secretary for Vice President of the United States, Office of 32, XXVIII Wage and Hour Division 29, V Water Resources Council 18, VI Workers' Compensation Programs, Office of 20, I, VII World Agricultural Outlook Board 7, XXXVIII [[Page 693]] List of CFR Sections Affected All changes in this volume of the Code of Federal Regulations (CFR) that were made by documents published in the Federal Register since January 1, 2018 are enumerated in the following list. Entries indicate the nature of the changes effected. Page numbers refer to Federal Register pages. The user should consult the entries for chapters, parts and subparts as well as sections for revisions. For changes to this volume of the CFR prior to this listing, consult the annual edition of the monthly List of CFR Sections Affected (LSA). The LSA is available at www.govinfo.gov. For changes to this volume of the CFR prior to 2001, see the ``List of CFR Sections Affected, 1949-1963, 1964-1972, 1973-1985, and 1986-2000'' published in 11 separate volumes. The ``List of CFR Sections Affected 1986-2000'' is available at www.govinfo.gov. 2018 12 CFR 83 FR Page Chapter II 201.3 (e) removed..................................................21168 201.51 (a) and (b) revised...........................13104, 28527, 49473 201.51 (d)(1) introductory text revised............................21168 204.4 (f) revised..................................................54518 204.10 (b)(5) revised................................13105, 28528, 49475 208.64 (b)(1) revised; interim.....................................43965 208.64 Regulation at 83 FR 43965 confirmed.........................67035 209 Nomenclature change............................................58467 210 Nomenclature change............................................61517 210.2 (h), (i), (m), (n), (q), and (s)(1) revised..................61517 210.3 (a) revised..................................................61518 210.4 (a), (b)(1)(ii), (iii), and (3) revised......................61518 210.5 (a), (c), (d), and (e) revised...............................61518 210.6 (a)(2)(ii) amended; (a)(2)(iii), (b), and (c) revised; (a)(2)(iv) added; (d) removed..............................61519 210.7 (a)(1) and (b)(2) revised....................................61520 210.9 (b)(2)(i), (3)(i)(A), (B), (4), (5), (6), (c), (d), and (e) revised; (f) removed.......................................61520 210.10 (a) revised.................................................61520 210.11 (b) revised; (c) removed....................................61521 210.12 (a) and (c) through (g) revised.............................61521 210.25 (a) and (b)(3) amended; (b)(2) introductory text revised; (e) added..................................................61522 210.26 (e) revised.................................................61522 210.29 (b) amended.................................................61522 210.25--210.32 (Subpart B) Appendix A amended......................61522 211.2 (z) revised; eff. 2-1-19.....................................58734 211.9 (a)(2) revised; eff. 2-1-19..................................58734 211.26 (c)(2)(i)(A) revised; interim...............................43965 211.26 Regulation at 83 FR 43965 confirmed.........................67035 213 Supplement I amended...........................................59276 217.1 (c)(1)(iii) revised; interim.................................44198 217.11 (a)(4)(ii) revised............................................705 217.11 Table 1, (a)(4)(iv), and (v) added..........................17477 217.300 (c)(1)(i) through (iv) added.................................705 2019 12 CFR 84 FR Page Chapter II Chapter II Policy statement........................................12049 201 Authority citation revised.......................................512 201.51 (a) and (b) revised......................512, 39724, 52753, 59924 204.4 (f) revised..................................................64706 204.10 (b)(5) revised....................513, 20542, 39725, 52754, 59926 [[Page 694]] 206.2 (g) revised..................................................61796 206.5 (a)(4) added.................................................61796 208 Authority citation revised..............................29051, 61796 208.2 (d) revised...................................................4240 208.2 Regulation at 84 FR 4240 eff. date delayed to 7-1-19.........11879 208.2 (d)(3) added.................................................61796 208.25 (b)(7) through (11) revised; (b)(12), (13), (14), and (c)(3) added................................................4970 208.43 (a) and (b) revised.........................................61796 208.43 Correction: (a), (b) introductory text, and (1) revised.....70887 208.101--208.105 (Subpart I) Removed...............................21692 208.120--208.124 (Subpart K) Added.................................29051 209.2 Amended; eff. 1-15-2020......................................68326 209.3 Amended; eff. 1-15-2020......................................68326 209.4 Amended; eff. 1-15-2020......................................68326 211 Nomenclature change............................................61797 211.2 (c)(1) revised................................................4241 211.2 Regulation at 84 FR 4241 eff. date delayed to 7-1-19.........11879 211.2 (b), (c), and (x) revised....................................61797 211.9 (a) footnote 5 redesignated as (a) footnote 1................61797 211.24 (k) removed.................................................21692 211.43 (c)(4) revised...............................................4241 211.43 Regulation at 84 FR 4241 eff. date delayed to 7-1-19........11879 212.3 (c) amended..................................................54471 213 Supplement I amended...........................................58018 215.2 (i) revised...................................................4241 215.2 Regulation at 84 FR 4241 eff. date delayed to 7-1-19.........11879 215.2 (i)(3) added.................................................61797 217 Authority citation revised.....................................61797 217.1 (f)(5) added.................................................59269 217.2 Amended.........................................4241, 35259, 59270 217.2 Regulation at 84 FR 4241 eff. date delayed to 7-1-19.........11879 217.2 Amended; eff. 4-1-20.........................................68032 217.10 (c)(3)(ii)(A) amended........................................4242 217.10 Regulation at 84 FR 4242 eff. date delayed to 7-1-19........11879 217.10 (c)(4)(ii)(H) revised.......................................35259 217.10 (a)(5), (c) introductory text, and (4)(i) introductory text revised....................................................59271 217.10 (a) revised.................................................61797 217.11 (a)(2)(i), (iv), (3)(i), and Table 1 revised................35259 217.11 (b)(1) introductory text and (ii) revised...................59271 217.12 Added.......................................................61797 217.20 (d)(3) amended...............................................4242 217.20 Regulation at 84 FR 4242 eff. date delayed to 7-1-19........11879 217.20 (b)(1)(iii), (4), (c)(2), (d)(2), and (5) revised; (f) added......................................................35260 217.21 Revised; eff. 4-1-20........................................35260 217.21 Regulation at 84 FR 35260 eff. date revised as 1-1-20.......61804 217.22 (c) footnote 23 amended......................................4242 217.22 Regulation at 84 FR 4242 eff. date delayed to 7-1-19........11879 217.22 (a)(1)(i), (c), (d), (g), and (h) revised; eff. 4-1-20......35261 217.22 (b)(2)(ii) revised..........................................59271 217.22 (f) revised.................................................61798 217.22 Regulation at 84 FR 35261 eff. date revised as 1-1-20.......61804 217.32 (b), (d)(2), (3)(ii), (k), and (l) revised..................35264 217.34 (c) revised.................................................35265 217.35 (b)(3)(ii), (4)(ii), (c)(3)(ii), and (4)(ii) revised........35266 217.36 (c) revised.................................................35266 217.37 (b)(2)(i) revised...........................................35266 217.38 (e)(2) revised..............................................35266 217.42 (j)(2)(ii)(A) revised.......................................35266 217.52 (b)(1) and (4) revised......................................35266 217.61 Revised.....................................................35267 217.63 Table 5 amended..............................................4242 217.63 Regulation at 84 FR 4242 eff. date delayed to 7-1-19........11879 217.63 Table 3 and Table 8 revised.................................35267 217.63 (d) and (e) added...........................................59271 217.100 (b)(1) revised; (b)(2) removed; (b)(3) redesignated as new (b)(2).....................................................59271 217.124 (a) and (b)(2) amended......................................4242 217.124 Regulation at 84 FR 4242 eff. date delayed to 7-1-19.......11879 217.131 (d)(2) revised.............................................35268 217.133 (b)(3)(ii) and (c)(3)(ii) revised..........................35269 217.152 (b)(5) and (6) revised.....................................35269 217.172 (d)(2) revised.............................................59271 217.173 Table 2, Table 3, and Table 5 amended.......................4242 217.173 Regulation at 84 FR 4242 eff. date delayed to 7-1-19.......11879 217.173 Heading and (a)(2) revised.................................59272 217.202 (b) amended................................................35269 [[Page 695]] 217.210 (b)(2)(ii) and (vii)(A) revised............................35269 217.300 (c)(2) and (3) revised.....................................35269 217.300 (b) and (d) removed; eff. 4-1-20...........................35269 217.300 (g) added..................................................61807 217.300 Regulation at 84 FR 35269 eff. date revised as 1-1-20......61804 217.301 Added.......................................................4243 217.301 Regulation at 84 FR 4243 eff. date delayed to 7-1-19.......11879 217.400 (b)(1), (2) introductory text, and (i) revised; (b)(3) removed....................................................59075 2020 12 CFR 85 FR Page Chapter II Chapter II Notification............................................19077 201.51 (a) and (b) revised..................................13724, 16524 204.2 (c)(1)(ii) removed; (c)(1)(iii) and (iv) redesignated as new (c)(1)(ii) and (iii); (d)(2), (e) introductory text, (2) through (4), and (6) revised; interim......................23447 204.4 (f) revised; interim.........................................16526 204.4 (f) revised; eff. 1-11-21....................................79823 204.10 (b)(5) revised.................................7856, 13725, 16528 208.36 (b)(3) added; interim.......................................77360 208.43 (b)(2)(iv)(B) and (3)(iv)(B) revised; interim...............32989 208.64 (d) added; interim..........................................77360 208.121 Amended; interim...........................................77360 209 Nomenclature change; eff. 1-11-21..............................79390 211.26 (c)(2)(iii) added; interim..................................77360 212.2 (o)(3) added; interim........................................77361 213 Supplement I amended...........................................79392 215 Authority citation revised.....................................22349 215.3 (b)(6) and (7) amended; (b)(8) added; interim................22349 215.3 (b)(8) introductory text and (ii) revised; interim...........43121 217 Authority citation revised.......................20393, 22929, 22938 217 Notification...................................................17721 217 Policy statement...............................................64003 217.2 Amended.................................................4414, 4578 217.2 Amended; interim.............................................20393 217.2 Regulation at 85 FR 20393 eff. date confirmed................68243 217.10 (c)(4)(ii)(A), (B), and (C) revised..........................4416 217.10 (c)(4)(ii) introductory text revised; (c)(4)(ii)(J) added 4578 217.10 (c)(4)(ii)(A), (B)(1), introductory text, (i), (2)(i), and (H) amended; (c)(4)(ii)(B)(2)(i) and (ii) revised..........57961 217.11 Revised.....................................................15596 217.11 (a)(2)(i) revised; interim..................................15916 217.11 Regulation at 85 FR 15916 confirmed.........................63428 217.12 (a)(4) added; interim.......................................77361 217.32 (f) revised..................................................4417 217.32 (a)(1)(iii) added; interim..................................20393 217.32 (f)(1) revised..............................................57961 217.32 Regulation at 85 FR 20393 eff. date confirmed...............68243 217.34 Revised......................................................4417 217.35 (a)(3) and (c)(3)(iii) added; (b)(4)(i) revised..............4419 217.37 (c)(3)(iii), (iv)(A), (C), (c)(4)(i)(B) introductory text, and (1) revised.............................................4419 217.37 (c)(2)(i)(B) amended........................................57961 217.131 (e)(3)(viii) added; interim................................20393 217.131 Regulation at 85 FR 20393 eff. date confirmed..............68243 217.132 (b)(2)(ii)(A)(3), (4), (5), (c) heading, (1), (2), (5) through (8), (d)(10)(i), and (e)(6)(viii) revised; (b)(2)(ii)(A)(6), (7), and (c)(9) through (11) added; (e)(5)(i)(A), (C), (H), and (6)(i)(B) amended; (e)(5)(ii) Table 3 redesignated as Table 4.............................4419 217.132 (c)(8)(iii), (iv), and (9)(i) amended; (c)(9)(ii)(A)(1) and (iv)(A)(3) revised.....................................57961 217.133 (a), (b)(1) , (2), (3), (4)(i), (c)(1), (2), (3), (4)(i), and (d) revised.............................................4426 217.133 (d)(4), (5), (6) introductory text, and (i) through (iii) revised....................................................57962 217.134 (d)(3) amended..............................................4419 217.173 Table 13 amended............................................4428 217.202 (1) introductory text and (i) amended.......................4419 217.210 (e)(1) amended..............................................4419 217.300 (g) and (h) added...........................................4429 217.301 Revised; interim...........................................17733 217.301 Correction: (b)(1), (c)(2) introductory text, (d) introductory text, (2)(i) introductory text, and (ii) introductory text amended..................................29842 217.301 Revised....................................................61589 [[Page 696]] 217.302 Added; interim.............................................16236 217.302 Regulation at 85 FR 16236 eff. date confirmed..............68243 217.303 Added; interim.............................................20586 217.303 Revised; interim...........................................32989 217.304 Added......................................................22929 217.304 (d) added..................................................22938 217.305 Added; interim.............................................20393 217.305 Regulation at 85 FR 20393 eff. date confirmed..............68243 2021 12 CFR 86 FR Page Chapter II 204.2 (aa) revised.................................................29938 204.4 Regulation at 85 FR 16525 confirmed...........................8853 204.4 (f) revised; eff. 1-7-22.....................................69578 204.10 (b) introductory text, (1) through (3), and (d)(1) through (4) revised................................................29938 204.10 (b)(5) revised..............................................38906 204.10 (b)(1) revised; (b)(4), (5), and (d)(5) removed; (d)(6) redesignated as new (d)(5).................................50214 209 Amended; eff. 1-7-22...........................................69579 213 Supplement I amended...........................................67849 215 Authority citation revised......................................9839 215.3 (b)(8)(i) through (iii) revised; interim......................9839 215.3 (b)(8)(i) through (iii) revised; (b)(8)(iv) added............27509 217.2 Amended........................................................731 217.10 (c) revised; (d) redesignated as (e); new (d) added...........732 217.11 Correction: (a)(2)(i) revised................................3762 217.11 (a)(2)(iii), (vi), (3)(i) introductory text, (4), (c) heading, (1)(i), (ii), (iii) introductory text, (iv) introductory text, (v) introductory text, (vi) introductory text, and (2) revised; second (c)(1)(v) redesignated as (c)(1)(vii).................................7938 217.11 Correction: Instruction amended..............................9261 217.20 (c)(3) and (d)(4) redesignated as (c)(3)(i) and (d)(4)(i); (c)(3)(ii) and (d)(4)(ii) added; interim...................15080 217.22 (c), (f), and (h) revised.....................................735 217.121 (c) amended..................................................738 217.132 (c)(7)(iii) and (iv) amended.................................738 217.303 (a) and (e) amended..........................................738 2022 12 CFR 87 FR Page Chapter II 201.51 (a) and (b) revised......22812, 29650, 38646, 48442, 60869, 68888 204.4 (f) revised; eff. 1-3-23.....................................73634 204.10 (b)(1) revised...........22813, 29651, 38647, 48443, 60870, 68889 208 Guidance.......................................................32826 208 Technical correction...........................................36214 209 Heading revised.................................................2030 209 Amended; eff. 1-3-23...........................................73635 209.1 (c) and (d)(3) revised........................................2030 209.3 (d)(1) through (3) redesignated as (d)(2), (3), and (5); new (d)(1) and (4) added; heading, (a), (c), (d) heading, and new (5) revised.............................................2030 209.4 (a), (b), (c)(1) introductory text, and (d)(1) introductory text revised; (c)(2) and (3) redesignated as (c)(3) and (4); new (c)(2) added.......................................2030 210 Heading revised................................................34357 210.2 Revised......................................................34357 210.25 (b)(2) and (c) revised......................................34358 210.26 Revised.....................................................34358 210.28 (b)(1) through (3) revised..................................34359 210.30 (b) and (c) revised.........................................34359 210.32 Heading and (b) revised.....................................34359 210.25--210.32 (Subpart B) Heading and subpart amended.............34358 210.25--210.32 (Subpart B) Appendix A amended......................34359 210.25--210.32 (Subpart B) Appendix B removed......................34362 210.40--210.47 (Subpart C) Added...................................34362 210 Appendix A added...............................................34369 213 Supplement I amended...........................................63668 [all]

usgpo

2024-06-24T00:12:35.515567

BILLS-118hr8345ih

No Official Palestine Entry Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8345 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8345 To limit funds to the United Nations and other organizations that provide any status, rights, or privileges beyond observer status to the Palestine Liberation Organization, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 10, 2024 Mr. Baird (for himself and Mr. McCaul) introduced the following bill; which was referred to the Committee on Foreign Affairs _______________________________________________________________________ A BILL To limit funds to the United Nations and other organizations that provide any status, rights, or privileges beyond observer status to the Palestine Liberation Organization, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``No Official Palestine Entry Act of 2024''. SEC. 2. MODIFICATION WITH RESPECT TO MEMBERSHIP OF PALESTINE LIBERATION ORGANIZATION IN UNITED NATIONS AGENCIES. Section 414(a) of the Foreign Relations Authorization Act, Fiscal Years 1990 and 1991 (22 U.S.C. 287e note; Public Law 101-246) is amended by striking ``the same standing as member states'' and inserting ``any status, rights, or privileges beyond observer status''. SEC. 3. AMENDMENTS TO LIMITATIONS ON CONTRIBUTIONS TO THE UNITED NATIONS AND AFFILIATED ORGANIZATIONS. Section 410 of the Foreign Relations Authorization Act, Fiscal Years 1994 and 1995 (22 U.S.C. 287e note; Public Law 103-236) is amended by striking ``full membership'' each place it appears and inserting ``any status, rights, or privileges beyond observer status''. SEC. 4. RULE OF CONSTRUCTION. Nothing is this Act shall be construed to apply to Taiwan. <all>

usgpo

2024-06-24T00:12:35.941675

BILLS-118hr8344ih

Texas Agricultural Producers Assistance Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8344 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8344 To require the Secretary of Agriculture to submit to Congress a report on available assistance to agricultural producers in the State of Texas that have suffered economic losses due to the failure of Mexico to deliver water. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 10, 2024 Ms. De La Cruz (for herself, Ms. Crockett, and Mr. Tony Gonzales of Texas) introduced the following bill; which was referred to the Committee on Agriculture _______________________________________________________________________ A BILL To require the Secretary of Agriculture to submit to Congress a report on available assistance to agricultural producers in the State of Texas that have suffered economic losses due to the failure of Mexico to deliver water. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Texas Agricultural Producers Assistance Act''. SEC. 2. REPORT ON AVAILABLE ASSISTANCE TO AGRICULTURAL PRODUCERS IN THE STATE OF TEXAS THAT HAVE SUFFERED ECONOMIC LOSSES DUE TO THE FAILURE OF MEXICO TO DELIVER WATER. Not later than 180 days after the date of the enactment of this Act, the Secretary of Agriculture shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report that lists all existing authorities of the Secretary and programs within the Department of Agriculture that are or could be made available to provide assistance to agricultural producers in the State of Texas that have suffered economic losses due to the failure of Mexico to deliver water to the United States in accordance with the Treaty Relating to the Utilization of Waters of the Colorado and Tijuana Rivers and of the Rio Grande signed at Washington on February 3, 1944, and the Supplementary Protocol signed at Washington on November 14, 1944. <all>

usgpo

2024-06-24T00:12:35.954858

BILLS-118hr8336ih

To amend title 10, United States Code, to establish a counseling pathway in the Transition Assistance Program for members of the reserve components of the Armed Forces.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8336 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8336 To amend title 10, United States Code, to establish a counseling pathway in the Transition Assistance Program for members of the reserve components of the Armed Forces. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 10, 2024 Ms. McClellan (for herself, Mr. Kelly of Mississippi, Ms. Norton, Ms. Omar, Ms. Moore of Wisconsin, Mr. Thanedar, Ms. Wexton, Mr. Moylan, Ms. Salinas, Mr. Davis of North Carolina, Mr. Levin, Ms. Williams of Georgia, Ms. Spanberger, and Mr. Van Orden) introduced the following bill; which was referred to the Committee on Armed Services _______________________________________________________________________ A BILL To amend title 10, United States Code, to establish a counseling pathway in the Transition Assistance Program for members of the reserve components of the Armed Forces. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. ESTABLISHMENT OF COUNSELING PATHWAY IN THE TRANSITION ASSISTANCE PROGRAM FOR MEMBERS OF THE RESERVE COMPONENTS OF THE ARMED FORCES. Section 1142(c)(1) of title 10, United States Code, is amended, in the matter preceding subparagraph (A), by inserting ``(including one pathway for members of the reserve components)'' after ``military department concerned''. <all>

usgpo

2024-06-24T00:12:35.978750

HOB-2024

History of Bills, Volume 170 (2024)

S. 4 — A bill to amend the Voting Rights Act of 1965 to revise the criteria for determining which States and political subdivisions are subject to section 4 of the Act, and for other purposes; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Mr. Warnock, Mr. Booker, Mr. Blumenthal, Ms. Butler, Mr. Schumer, Mrs. Murray, Mr. Wyden, Mr. Reed, Mr. Carper, Ms. Stabenow, Ms. Cantwell, Mr. Menendez, Mr. Cardin, Mr. Sanders, Mr. Brown, Mr. Casey, Ms. Klobuchar, Mr. Whitehouse, Mr. Tester, Mrs. Shaheen, Mr. Warner, Mr. Merkley, Mr. Bennet, Mrs. Gillibrand, Mr. Coons, Mr. Schatz, Ms. Baldwin, Mr. Murphy, Ms. Hirono, Mr. Heinrich, Mr. King, Mr. Kaine, Ms. Warren, Mr. Markey, Mr. Peters, Mr. Van Hollen, Ms. Duckworth, Ms. Hassan, Ms. Cortez Masto, Ms. Smith, Ms. Sinema, Ms. Rosen, Mr. Kelly, Mr. Luján, Mr. Hickenlooper, Mr. Padilla, Mr. Ossoff, Mr. Welch, and Mr. Fetterman), S1076 [29FE] Text, S1079 [29FE] S. 5 — A bill to prohibit discrimination on the basis of sex, gender identity, and sexual orientation, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S309 [31JA] S. 6 — A bill to reduce a portion of the annual pay of Members of Congress for the failure to adopt a concurrent resolution on the budget which does not provide for a balanced budget, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S3885 [23MY] S. 16 — A bill to prohibit the award of Federal funds to an institution of higher education that hosts or is affiliated with a student-based service site that provides abortion drugs or abortions to students of the institution or to employees of the institution or site, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2515 [21MR], S2598 [22MR] S. 24 — A bill to fight homelessness in the United States by authorizing a grant program within the Health Resources and Services Administration for housing programs that offer comprehensive services and intensive case management for homeless individuals and families; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S222 [23JA] S. 25 — A bill to regulate assault weapons, to ensure that the right to keep and bear arms is not unlimited, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S985 [26FE] S. 31 — A bill to provide for the development and issuance of a plan to increase oil and gas production on Federal land in conjunction with a drawdown of petroleum reserves from the Strategic Petroleum Reserve; to the Committee on Energy and Natural Resources. Cosponsors added, S443 [7FE] S. 32 — A bill to increase the number of landlords participating in the Housing Choice Voucher program; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S3992 [5JN] S. 42 — A bill to improve the management and performance of the capital asset programs of the Department of Veterans Affairs so as to better serve veterans, their families, caregivers, and survivors, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S2790 [16AP] S. 50 — A bill to amend the Federal Water Pollution Control Act to require the Administrator of the Environmental Protection Agency to give priority consideration to selecting Pensacola and Perdido Bays as an estuary of national significance, and for other purposes; to the Committee on Environment and Public Works. Amendments, S2367, S2371 [12MR] Committee discharged. Passed Senate, S2371 [12MR] Message from the Senate (received March 14, 2024), H1185 [15MR] Held at the desk, H1185 [15MR] S. 51 — A bill to provide for the admission of the State of Washington, D.C. into the Union; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S186 [18JA] S. 68 — A bill to amend the Defense Production Act of 1950 to prevent harm and disruption to the United States agriculture industry by protecting against foreign influence over agriculture production and supply chains, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S309 [31JA] S. 70 — A bill to require the Bureau of Indian Affairs to process and complete all mortgage packages associated with residential and business mortgages on Indian land by certain deadlines, and for other purposes; to the Committee on Indian Affairs. Cosponsors added, S2239 [6MR] S. 71 — A bill to extend the customs waters of the United States from 12 nautical miles to 24 nautical miles from the baselines of the United States, consistent with Presidential Proclamation 7219; to the Committee on Finance. Cosponsors added, S4019 [11JN] S. 76 — A bill to require the Secretary of Health and Human Services to furnish tailored information to expecting mothers, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S309 [31JA], S3597 [8MY] S. 81 — A bill to provide a moratorium on all Federal research grants provided to any institution of higher education or other research institute that is conducting gain-of-function research. Cosponsors added, S147 [17JA] S. 91 — A bill to award a Congressional Gold Medal to 60 diplomats, in recognition of their bravery and heroism during the Holocaust; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S94 [11JA], S222 [23JA], S343 [1FE], S496 [8FE], S2331 [8MR], S2365 [12MR], S3711 [15MY], S3930 [3JN], S4055 [12JN] S. 95 — A bill to amend the Federal Food, Drug, and Cosmetic Act to prohibit the approval of new abortion drugs, to prohibit investigational use exemptions for abortion drugs, and to impose additional regulatory requirements with respect to previously approved abortion drugs, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S16 [8JA], S287 [30JA] S. 96 — A bill to address the history of discrimination against Black farmers and ranchers, to require reforms within the Department of Agriculture to prevent future discrimination, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S74 [10JA] S. 109 — A bill to amend title XXI of the Social Security Act to prohibit lifetime or annual limits on dental coverage under the Children’s Health Insurance Program, and to require wraparound coverage of dental services for certain children under such program; to the Committee on Finance. Cosponsors added, S421 [6FE] S. 114 — A bill to amend the Congressional Budget Act of 1974 respecting the scoring of preventive health savings; to the Committee on the Budget. Cosponsors added, S3931 [3JN] S. 120 — A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for charitable donations to nonprofit organizations providing education scholarships to qualified elementary and secondary students; to the Committee on Finance. Cosponsors added, S2469 [20MR], S3686 [14MY] S. 131 — A bill to amend chapter 81 of title 5, United States Code, to cover, for purposes of workers’ compensation under such chapter, services by physician assistants and nurse practitioners provided to injured Federal workers, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S985 [26FE], S2213 [5MR] S. 132 — A bill to require a pilot program on activities under the pre-separation transition process of members of the Armed Forces for a reduction in suicide among veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S3135 [1MY] S. 133 — A bill to extend the National Alzheimer’s Project; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S343 [1FE], S421 [6FE], S599 [9FE], S2515 [21MR], S2645 [8AP], S2666 [9AP], S2740 [15AP], S4085 [13JN], S4115 [17JN] S. 134 — A bill to require an annual budget estimate for the initiatives of the National Institutes of Health pursuant to reports and recommendations made under the National Alzheimer’s Project Act; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2515 [21MR], S2645 [8AP], S2666 [9AP], S2740 [15AP], S4085 [13JN], S4115 [17JN] S. 135 — A bill to provide for a period of continuing appropriations in the event of a lapse in appropriations under the normal appropriations process, and establish procedures and consequences in the event of a failure to enact appropriations; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S122 [16JA] S. 138 — A bill to amend the Tibetan Policy Act of 2002 to modify certain provisions of that Act; to the Committee on Foreign Relations. Cosponsors added, S2666 [9AP], S2740 [15AP], S2790 [16AP], S3079 [30AP], S3597 [8MY], S3780 [20MY] Reported with amendment (no written report), S3503 [7MY] Passed Senate amended, S3898 [23MY] Amendments, S3898 [23MY] Message from the Senate (received May 30, 2024), H3537 [31MY] Held at the desk, H3537 [31MY] Text, H3701 [11JN] Rules suspended. Passed House, H3738 [12JN] Message from the House, S4082 [13JN] S. 140 — A bill to combat organized crime involving the illegal acquisition of retail goods for the purpose of selling those illegally obtained goods through physical and online retail marketplaces; to the Committee on the Judiciary. Cosponsors added, S343 [1FE], S421 [6FE], S1077 [29FE], S2598 [22MR] S. 141 — A bill to amend title 38, United States Code, to improve certain programs of the Department of Veterans Affairs for home and community based services for veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S2365 [12MR] S. 150 — A bill to amend the Federal Trade Commission Act to prohibit product hopping, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S2666 [9AP] S. 158 — A bill to increase United States jobs through greater United States exports to Africa and Latin America, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S202 [22JA] S. 160 — A bill to require U.S. Immigration and Customs Enforcement to take into custody certain aliens who have been charged in the United States with a crime that resulted in the death or serious bodily injury of another person, and for other purposes; to the Committee on the Judiciary. Objection is heard to request for consideration, S2226 [6MR], S3866 [23MY] Cosponsors added, S2401 [14MR], S2439 [19MR], S2469 [20MR], S2515 [21MR], S2666 [9AP], S2707 [10AP], S3885 [23MY] S. 161 — A bill to extend the Federal Pell Grant eligibility of certain short-term programs; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S269 [25JA], S309 [31JA], S1012 [27FE], S2346 [11MR], S3815 [21MY] S. 163 — A bill to amend the Internal Revenue Code of 1986 to remove short-barreled rifles, short-barreled shotguns, and certain other weapons from the definition of firearms for purposes of the National Firearms Act, and for other purposes; to the Committee on Finance. Cosponsors added, S122 [16JA] S. 173 — A bill to amend chapter 44 of title 18, United States Code, to require the safe storage or firearms, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S94 [11JA], S2213 [5MR], S2401 [14MR], S2874 [18AP] S. 176 — A bill to amend the Agricultural Trade Act of 1978 to extend and expand the Market Access Program and the Foreign Market Development Cooperator Program; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S48 [9JA] S. 184 — A bill to amend chapter 8 of title 5, United States Code, to provide that major rules of the executive branch shall have no force or effect unless a joint resolution of approval is enacted into law. Cosponsors added, S186 [18JA] S. 204 — A bill to amend title 18, United States Code, to prohibit a health care practitioner from failing to exercise the proper degree of care in the case of a child who survives an abortion or attempted abortion; to the Committee on the Judiciary. Cosponsors added, S2515 [21MR] Objection is heard to request for consideration, S4136 [18JN] S. 206 — A bill to require the Commissioner of U.S. Customs and Border Protection to regularly review and update policies and manuals related to inspections at ports of entry; to the Committee on Homeland Security and Governmental Affairs. Text, H788 [5MR] Rules suspended. Passed House, H1025 [7MR] Message from the House, S2330 [8MR], S2399 [14MR] Examined and signed in the Senate, S2399 [14MR] Examined and signed in the House, H1177 [13MR] Presented to the President, S2400 [14MR] Approved [Public Law 118–43] (signed March 18, 2024) S. 210 — A bill to expand employees eligible for leave and employers subject to leave requirements; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3780 [20MY] S. 216 — A bill to amend title 38, United States Code, to modify the family caregiver program of the Department of Veterans Affairs to include services related to mental health and neurological disorders, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S3954 [4JN] S. 217 — A bill to amend the Internal Revenue Code of 1986 to provide a special rule for certain casualty losses of uncut timber; to the Committee on Finance. Cosponsors added, S269 [25JA], S985 [26FE], S2439 [19MR], S2666 [9AP] S. 226 — A bill to establish eligibility requirements for education support professionals and school support staff under the Family and Medical Leave Act of 1993, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S343 [1FE] S. 234 — A bill to amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes; to the Committee on Finance. Cosponsors added, S4055 [12JN], S4085 [13JN] S. 236 — A bill to direct the Secretary of Labor to award grants to develop, administer, and evaluate early childhood education apprenticeships, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S48 [9JA] S. 242 — A bill to amend the Family and Medical Leave Act of 1993 and title 5, United States Code, to permit leave to care for a domestic partner, parent-in-law, or adult child, or another related individual, who has a serious health condition, and to allow employees to take, as additional leave, parental involvement and family wellness leave to participate in or attend their children’s and grandchildren’s educational and extracurricular activities or meet family care needs; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2932 [19AP] S. 243 — A bill to require the Commissioner of U.S. Customs and Border Protection to establish procedures for conducting maintenance projects at ports of entry at which the Office of Field Operations conducts certain enforcement and facilitation activities; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S269 [25JA] S. 247 — A bill to support State, Tribal, and local efforts to remove access to firearms from individuals who are a danger to themselves or others pursuant to court orders for this purpose; to the Committee on the Judiciary. Cosponsors added, S985 [26FE] S. 254 — A bill to amend the Omnibus Parks and Public Lands Management Act of 1996 to provide for the establishment of a Ski Area Fee Retention Account, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S3135 [1MY] S. 260 — A bill to amend title XVIII of the Social Security Act to permit nurse practitioners and physician assistants to satisfy the documentation requirement under the Medicare program for coverage of certain shoes for individuals with diabetes; to the Committee on Finance. Cosponsors added, S147 [17JA], S496 [8FE], S985 [26FE], S2999 [23AP] S. 270 — A bill to improve protections for meatpacking workers, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S421 [6FE] S. 273 — A bill to posthumously award a Congressional Gold Medal, collectively, to the African Americans who served with Union forces during the Civil War, in recognition of their bravery and outstanding service; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S122 [16JA] S. 280 — A bill to ensure that only licensed health care professionals furnish disability examinations under a certain Department of Veterans Affairs pilot program for use of contract physicians for disability examinations, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S3135 [1MY] S. 291 — A bill to amend title 38, United States Code, to establish in the Department the Veterans Economic Opportunity and Transition Administration, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S3885 [23MY] S. 298 — A bill to regulate large capacity ammunition feeding devices; to the Committee on the Judiciary. Cosponsors added, S985 [26FE] S. 312 — A bill to amend title XVIII of the Social Security Act to modernize payments for ambulatory surgical centers under the Medicare program, and for other purposes; to the Committee on Finance. Cosponsors added, S3135 [1MY] S. 317 — A bill to guarantee that Americans have the freedom to make certain reproductive decisions without undue government interference; to the Committee on the Judiciary. Cosponsors added, S496 [8FE] S. 334 — A bill to modify the restriction in section 3326 of title 5, United States Code, relating to the appointment of retired members of the Armed Forces to positions in the Department of Defense to apply to positions at or above the GS–14 level; to the Committee on Armed Services. Cosponsors added, S2645 [8AP] S. 340 — A bill to amend the Communications Act of 1934 to modify the definition of franchise fee, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S122 [16JA] S. 341 — A bill to amend the Internal Revenue Code of 1986 to exclude certain broadband grants from gross income; to the Committee on Finance. Cosponsors added, S287 [30JA], S3597 [8MY] S. 344 — A bill to amend title 10, United States Code, to provide for concurrent receipt of veterans’ disability compensation and retired pay for disability retirees with fewer than 20 years of service and a combat-related disability, and for other purposes; to the Committee on Armed Services. Cosponsors added, S74 [10JA], S2239 [6MR], S2346 [11MR] S. 357 — A bill to amend the Internal Revenue Code of 1986 to provide for current year inclusion of net CFC tested income, and for other purposes; to the Committee on Finance. Cosponsors added, S3686 [14MY] S. 359 — A bill to amend title 28, United States Code, to provide for a code of conduct for justices of the Supreme Court of the United States, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S48 [9JA], S147 [17JA], S985 [26FE] Objection is heard to request for consideration, S4040 [12JN] S. 363 — A bill to award a Congressional Gold Medal, collectively, to the individuals and communities who volunteered or donated items to the North Platte Canteen in North Platte, Nebraska, during World War II from December 25, 1941, to April 1, 1946; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S955 [12FE], S2401 [14MR], S2874 [18AP] S. 373 — A bill to modify the disposition of certain outer Continental Shelf revenues and to open Federal financial sharing to heighten opportunities for renewable energy, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S74 [10JA], S1012 [27FE] S. 382 — A bill to take certain land in the State of Washington into trust for the benefit of the Puyallup Tribe of the Puyallup Reservation, and for other purposes; to the Committee on Indian Affairs. Text, H2155 [9AP] Rules suspended. Passed House, H2300 [11AP] Message from the House, S2733 [15AP], S2870 [18AP] Examined and signed in the Senate, S2870 [18AP] Examined and signed in the House, H2519 [18AP] Presented to the President, S2870 [18AP] Approved [Public Law 118–48] (signed April 19, 2024) S. 393 — A bill to enhance Social Security benefits and ensure the long-term solvency of the Social Security program; to the Committee on Finance. Cosponsors added, S2667 [9AP] S. 399 — A bill to place limitations on excepting positions from the competitive service, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S48 [9JA] S. 401 — A bill to amend the Internal Revenue Code of 1986 to remove silencers from the definition of firearms, and for other purposes; to the Committee on Finance. Cosponsors added, S3931 [3JN] S. 412 — A bill to provide that it is unlawful to knowingly distribute private intimate visual depictions with reckless disregard for the individual’s lack of consent to the distribution, and for other purposes; to the Committee on the Judiciary. Objection is heard to request for consideration, S2229 [6MR] Cosponsors added, S3686 [14MY] S. 414 — A bill to amend title 38, United States Code, to improve and to expand eligibility for dependency and indemnity compensation paid to certain survivors of certain veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S186 [18JA] S. 428 — A bill to amend title 41, United States Code, to prohibit the Federal Government from entering into contracts with an entity that discriminates against firearm or ammunition industries, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2828 [17AP] S. 431 — A bill to withhold United States contributions to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S74 [10JA] S. 432 — A bill to amend the Wild and Scenic Rivers Act to designate the Nulhegan River and Paul Stream in the State of Vermont for potential addition to the national wild and scenic rivers system, and for other purposes; to the Committee on Energy and Natural Resources. Reported (S. Rept. 118–149), S47 [9JA] S. 444 — A bill to require any convention, agreement, or other international instrument on pandemic prevention, preparedness, and response reached by the World Health Assembly to be subject to Senate ratification; to the Committee on Foreign Relations. Cosponsors added, S2790 [16AP] S. 445 — A bill to direct the Secretary of the Interior to reissue a final rule relating to removing the Greater Yellowstone Ecosystem population of grizzly bears from the Federal list of endangered and threatened wildlife, and for other purposes; to the Committee on Environment and Public Works. Read the first time, S3934 [3JN] S. 448 — A bill to codify the existing Outdoor Recreation Legacy Partnership Program of the National Park Service, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S1044 [28FE] S. 459 — A bill to amend title 18, United States Code, to provide enhanced penalties for convicted murderers who kill or target America’s public safety officers; to the Committee on the Judiciary. Cosponsors added, S1012 [27FE] S. 462 — A bill to amend the Public Health Service Act to modify the loan repayment program for the substance use disorder treatment workforce to relieve workforce shortages; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S202 [22JA], S3135 [1MY] S. 465 — A bill to require Federal law enforcement agencies to report on cases of missing or murdered Indians, and for other purposes; to the Committee on Indian Affairs. Cosponsors added, S4085 [13JN] S. 474 — A bill to amend title 18, United States Code, to strengthen reporting to the CyberTipline related to online sexual exploitation of children, to modernize liabilities for such reports, to preserve the contents of such reports for 1 year, and for other purposes; to the Committee on the Judiciary. Rules suspended. Passed House, H2683 [29AP] Text, H2683 [29AP] Message from the House, S3077 [30AP], S3129 [1MY] Examined and signed in the Senate, S3129 [1MY] Examined and signed in the House, H2825 [1MY] Presented to the President, S3130 [1MY] Approved [Public Law 118–59] (signed May 7, 2024) S. 476 — A bill to amend title XI of the Social Security Act to protect access to genetically targeted technologies; to the Committee on Finance. Cosponsors added, S4115 [17JN] S. 494 — A bill to require a background check for every firearm sale; to the Committee on the Judiciary. Cosponsors added, S2239 [6MR] S. 495 — A bill to require the Secretary of Veterans Affairs to carry out a pilot program to provide assisted living services for eligible veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S122 [16JA], S985 [26FE], S3992 [5JN] S. 497 — A bill to amend the Food and Nutrition Act of 2008 to exclude a basic allowance for housing from income for purposes of eligibility for the supplemental nutrition assistance program; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S496 [8FE] S. 502 — A bill to amend the Animal Health Protection Act with respect to the importation of live dogs, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S222 [23JA], S421 [6FE], S2740 [15AP] S. 505 — A bill to amend section 212(d)(5) of the Immigration and Nationality Act to reform immigration parole, and for other purposes; to the Committee on the Judiciary. Objection is heard to request for consideration, S3841 [22MY] S. 507 — A bill to establish the Ralph David Abernathy, Sr., National Historic Site, and for other purposes; to the Committee on Energy and Natural Resources. Reported (S. Rept. 118–150), S47 [9JA] S. 512 — A bill to amend the Federal Election Campaign Act of 1971 to provide for additional disclosure requirements for corporations, labor organizations, Super PACs and other entities, and for other purposes; to the Committee on Rules and Administration. Cosponsors added, S186 [18JA] S. 526 — A bill to strengthen the use of patient-experience data within the benefit-risk framework for approval of new drugs; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3079 [30AP] S. 528 — A bill to require a standard financial aid offer form, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2347 [11MR] S. 532 — A bill to preserve and protect the free choice of individual employees to form, join, or assist labor organizations, or to refrain from such activities; read the first time. Cosponsors added, S1078 [29FE] S. 539 — A bill to amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S2213 [5MR], S3135 [1MY], S3686 [14MY] S. 545 — A bill to protect the rights of passengers with disabilities in air transportation, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S186 [18JA], S2707 [10AP] S. 546 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to authorize law enforcement agencies to use COPS grants for recruitment activities, and for other purposes; to the Committee on the Judiciary. Text, H3046 [14MY] Rules suspended. Passed House, H3188 [14MY] Message from the House, S3709 [15MY] Message from the House (received May 16, 2024, during adjournment), S3778 [20MY] Examined and signed in the Senate (May 16, 2024, during adjournment), S3778 [20MY] Examined and signed in the House, H3326 [16MY] Presented to the President, S3779 [20MY] Approved [Public Law 118–64] (signed May 24, 2024) S. 547 — A bill to award a Congressional Gold Medal, collectively, to the First Rhode Island Regiment, in recognition of their dedicated service during the Revolutionary War; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S361 [5FE], S496 [8FE], S599 [9FE], S1044 [28FE] S. 566 — A bill to amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions; to the Committee on Finance. Cosponsors added, S1012 [27FE], S2645 [8AP], S2932 [19AP] S. 567 — A bill to amend the National Labor Relations Act, the Labor Management Relations Act, 1947, and the Labor-Management Reporting and Disclosure Act of 1959, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2790 [16AP] S. 582 — A bill to make daylight saving time permanent, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2239 [6MR], S2439 [19MR] S. 590 — A bill to allow the Administrator of the National Aeronautics and Space Administration to enter into agreements with private and commercial entities and State governments to provide certain supplies, support, and services; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2347 [11MR] S. 592 — A bill to amend title 38, United States Code, to increase the mileage rate offered by the Department of Veterans Affairs through their Beneficiary Travel program for health related travel, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S3079 [30AP] S. 594 — A bill to require the Secretary of Agriculture and the Secretary of the Interior to prioritize the completion of the Continental Divide National Scenic Trail, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–175), S3753 [16MY] S. 596 — A bill to amend the Internal Revenue Code of 1986 to make employers of spouses of military personnel eligible for the work opportunity credit; to the Committee on Finance. Cosponsors added, S4115 [17JN] S. 597 — A bill to amend title II of the Social Security Act to repeal the Government pension offset and windfall elimination provisions; to the Committee on Finance. Cosponsors added, S16 [8JA], S985 [26FE], S2213 [5MR], S2331 [8MR], S3815 [21MY], S3931 [3JN], S3955 [4JN], S4019 [11JN] S. 608 — A bill to amend the Wild and Scenic Rivers Act to direct the Secretary of the Interior to conduct a study of the Deerfield River for potential addition to the national wild and scenic rivers system, and for other purposes; to the Committee on Energy and Natural Resources. Reported (S. Rept. 118–151), S47 [9JA] S. 610 — A bill to amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S1078 [29FE], S2213 [5MR], S2402 [14MR] S. 612 — A bill to reauthorize the Lake Tahoe Restoration Act, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S2365 [12MR] S. 617 — A bill to amend the Outer Continental Shelf Lands Act to permanently prohibit the conduct of offshore drilling on the outer Continental Shelf in the Mid-Atlantic, South Atlantic, North Atlantic, and Straits of Florida planning areas; to the Committee on Energy and Natural Resources. Cosponsors added, S2516 [21MR] S. 618 — A bill to establish the United States Foundation for International Conservation to promote long-term management of protected and conserved areas, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S2469 [20MR], S2828 [17AP], S3885 [23MY], S4019 [11JN], S4153 [18JN], S4181 [20JN] Reported with amendment (no written report), S3503 [7MY] S. 633 — A bill to award a Congressional Gold Medal to Everett Alvarez, Jr., in recognition of his service to the United States; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S3931 [3JN], S4055 [12JN] S. 636 — A bill to establish the Dolores River National Conservation Area and the Dolores River Special Management Area in the State of Colorado, to protect private water rights in the State, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–176), S3753 [16MY] S. 639 — A bill to amend the Internal Revenue Code of 1986 to improve the historic rehabilitation tax credit, and for other purposes; to the Committee on Finance. Cosponsors added, S4153 [18JN] S. 644 — A bill to expand the take-home prescribing of methadone through pharmacies; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S251 [24JA], S599 [9FE] Reported with amendment (no written report), S342 [1FE] S. 652 — A bill to amend the Employee Retirement Income Security Act of 1974 to require a group health plan or health insurance coverage offered in connection with such a plan to provide an exceptions process for any medication step therapy protocol, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2439 [19MR], S3135 [1MY] S. 657 — A bill to amend the Internal Revenue Code of 1986 to establish a tax credit for neighborhood revitalization, and for other purposes; to the Committee on Finance. Cosponsors added, S3655 [9MY], S3711 [15MY] S. 662 — A bill to amend the Workforce Innovation and Opportunity Act to create a new national program to support mid-career workers, including workers from underrepresented populations, in reentering the STEM workforce, by providing funding to small- and medium-sized STEM businesses so the businesses can offer paid internships or other returnships that lead to positions above entry level; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2874 [18AP] S. 663 — A bill to amend title II of the Social Security Act to eliminate the waiting periods for disability insurance benefits and Medicare coverage for individuals with metastatic breast cancer, and for other purposes; to the Committee on Finance. Cosponsors added, S2667 [9AP], S2790 [16AP] S. 665 — A bill to provide incentives to physicians to practice in rural and medically underserved communities, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S1078 [29FE] S. 666 — A bill to amend title 31, United States Code, to require the Chief Operating Officer of each agency to compile a list of unnecessary programs, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S3885 [23MY] S. 677 — A bill to amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces; to the Committee on Finance. Cosponsors added, S2707 [10AP] S. 683 — A bill to modify the boundary of the Berryessa Snow Mountain National Monument to include certain Federal land in Lake County, California, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S1044 [28FE] S. 685 — A bill to close loopholes in the immigration laws that serve as incentives to aliens to attempt to enter the United States unlawfully, and for other purposes; to the Committee on the Judiciary. Objection is heard to request for consideration, S3794 [21MY] S. 686 — A bill to authorize the Secretary of Commerce to review and prohibit certain transactions between persons in the United States and foreign adversaries, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S16 [8JA] S. 689 — A bill to amend the Controlled Substances Act to define currently accepted medical use with severe restrictions, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S3885 [23MY] S. 696 — A bill to authorize the Secretary of Homeland Security to suspend the entry of aliens in order to achieve operational control of the border, and for other purposes; to the Committee on the Judiciary. Objection is heard to request for considerationI90[S22MY4-146]TUBERVILLE<07>DS3839, S3839 [22MY] S. 697 — A bill to amend the Agricultural Act of 2014 to modify the treatment of revenue from timber sale contracts and certain payments made by counties to the Secretary of Agriculture and the Secretary of the Interior under good neighbor agreements, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2469 [20MR] S. 703 — A bill to amend title XVIII of the Social Security Act to make improvements to the redistribution of residency slots under the Medicare program after a hospital closes; to the Committee on Finance. Cosponsors added, S361 [5FE] S. 704 — A bill to amend the Higher Education Act of 1965 to provide for interest-free deferment on student loans for borrowers serving in a medical or dental internship or residency program; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S443 [7FE], S2598 [22MR], S2707 [10AP], S2790 [16AP], S2999 [23AP], S3855 [22MY] S. 709 — A bill to improve performance and accountability in the Federal Government, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Passed Senate amended, S487 [8FE] Amendments, S487 [8FE] Text, S488 [8FE] S. 711 — A bill to require the Secretary of the Treasury to mint coins in commemoration of the invaluable service that working dogs provide to society; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S48 [9JA], S94 [11JA], S202 [22JA], S222 [23JA], S496 [8FE], S985 [26FE], S2213 [5MR], S2667 [9AP], S2719 [11AP], S2790 [16AP], S2999 [23AP], S3503 [7MY], S3655 [9MY], S3815 [21MY], S3955 [4JN], S3992 [5JN], S4055 [12JN], S4153 [18JN] S. 712 — A bill to identify and address barriers to coverage of remote physiologic devices under State Medicaid programs to improve maternal and child health outcomes for pregnant and postpartum women; to the Committee on Finance. Cosponsors added, S2790 [16AP] S. 715 — A bill to require the Executive Office of the President to provide an inflation estimate with respect to Executive orders with a significant effect on the annual gross budget, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S186 [18JA] S. 722 — A bill to amend the Internal Revenue Code of 1986 to permit certain expenses associated with obtaining or maintaining recognized postsecondary credentials to be treated as qualified higher education expenses for purposes of 529 accounts; to the Committee on Finance. Cosponsors added, S202 [22JA], S443 [7FE], S496 [8FE], S1012 [27FE], S2239 [6MR], S2365 [12MR], S2667 [9AP], S3955 [4JN] S. 728 — A bill to amend the Fair Labor Standards Act of 1938 to provide more effective remedies to victims of discrimination in the payment of wages on the basis of sex, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2402 [14MR] S. 738 — A bill to amend the Internal Revenue Code of 1986 to allow workers an above-the-line deduction for union dues and expenses and to allow a miscellaneous itemized deduction for workers for all unreimbursed expenses incurred in the trade or business of being an employee; to the Committee on Finance. Cosponsors added, S2719 [11AP] S. 740 — A bill to amend title 38, United States Code, to reinstate criminal penalties for persons charging veterans unauthorized fees relating to claims for benefits under the laws administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S2279 [7MR], S2347 [11MR], S2365 [12MR], S2516 [21MR], S2645 [8AP], S2874 [18AP], S3135 [1MY], S3755 [16MY], S3885 [23MY] S. 747 — A bill to authorize the Secretary of Agriculture to provide grants to States, territories, and Indian Tribes to address contamination by perfluoroalkyl and polyfluoroalkyl substances on farms, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S985 [26FE], S2365 [12MR] S. 759 — A bill to authorize the National Detector Dog Training Center , and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2213 [5MR], S2667 [9AP] S. 762 — A bill to amend title XIX of the Social Security Act to require coverage of, and expand access to, home and community-based services under the Medicaid program, to award grants for the creation, recruitment, training and education, retention, and advancement of the direct care workforce and to award grants to support family caregivers, and for other purposes; to the Committee on Finance. Cosponsors added, S3135 [1MY] S. 786 — A bill to amend the Internal Revenue Code of 1986 to treat certain amounts paid for physical activity, fitness, and exercise as amounts paid for medical care; to the Committee on Finance. Cosponsors added, S147 [17JA], S3955 [4JN] S. 788 — A bill to amend the Permanent Electronic Duck Stamp Act of 2013 to allow States to issue fully electronic stamps under that Act, and for other purposes; to the Committee on Environment and Public Works. Approved [Public Law 118–25] (signed December 19, 2023) S. 789 — A bill to require the Secretary of the Treasury to mint a coin in recognition of the 100th anniversary of the United States Foreign Service and its contribution to United States diplomacy; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S2874 [18AP], S3755 [16MY], S3855 [22MY] S. 793 — A bill to amend title XVIII of the Social Security Act to add physical therapists to the list of providers allowed to utilize locum tenens arrangements under Medicare; to the Committee on Finance. Cosponsors added, S421 [6FE], S3686 [14MY], S3815 [21MY] S. 799 — A bill to amend title XVIII of the Social Security Act to provide Medicare coverage for all physicians’ services furnished by doctors of chiropractic within the scope of their license, and for other purposes; to the Committee on Finance. Cosponsors added, S288 [30JA], S955 [12FE], S2279 [7MR], S2719 [11AP] S. 806 — A bill to amend the Consolidated Farm and Rural Development Act to establish a grant program to assist with the purchase, installation, and maintenance of point-of-entry and point-of-use drinking water quality improvement products, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2667 [9AP] S. 813 — A bill to direct the Secretary of Agriculture to amend regulations to allow for certain packers to have an interest in market agencies, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2667 [9AP] S. 815 — A bill to award a Congressional Gold Medal to the female telephone operators of the Army Signal Corps, known as the ‘‘Hello Girls’’; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S48 [9JA], S74 [10JA], S122 [16JA], S147 [17JA], S202 [22JA], S222 [23JA], S251 [24JA], S288 [30JA], S343 [1FE], S361 [5FE], S496 [8FE], S955 [12FE], S1012 [27FE], S2645 [8AP], S2707 [10AP], S2740 [15AP], S2790 [16AP], S2874 [18AP], S3597 [8MY], S3686 [14MY], S3815 [21MY], S4019 [11JN], S4085 [13JN], S4115 [17JN] S. 831 — A bill to address transnational repression by foreign governments against private individuals, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S3780 [20MY] S. 859 — A bill to provide for the expedited consideration of nominations for the Supreme Court of the United States; to the Committee on Rules and Administration. Cosponsors added, S309 [31JA] S. 866 — A bill to amend the Internal Revenue Code of 1986 to enhance tax benefits for research activities; to the Committee on Finance. Cosponsors added, S251 [24JA] S. 870 — A bill to amend the Federal Fire Prevention and Control Act of 1974 to authorize appropriations for the United States Fire Administration and firefighter assistance grant programs. Debated, H2910 [7MY] Text, H2910 [7MY] Rules suspended. Passed House amended, H2986 [8MY] Title amended, H2986 [8MY] Message from the House, S3650 [9MY] Cosponsors added, S4115 [17JN], S4153 [18JN] Senate consideration of House amendment, S4125 [18JN] Debated, S4125 [18JN] S. 871 — A bill to amend section 7014 of the Elementary and Secondary Education Act of 1965 to advance toward full Federal funding for impact aid, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2932 [19AP] S. 879 — A bill to provide greater output, price stability, and regulatory certainty with respect to domestic energy production in the United States and exports, and for other purposes; to the Committee on Energy and Natural Resources. Senate agreed to House amendment, S4142 [18JN] S. 893 — A bill to amend title 49, United States Code, to raise the retirement age for pilots engaged in commercial aviation operations, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S309 [31JA] S. 895 — A bill to provide for further comprehensive research at the National Institute of Neurological Disorders and Stroke on unruptured intracranial aneurysms; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2741 [15AP], S3686 [14MY], S3815 [21MY] S. 912 — A bill to require the Secretary of Energy to provide technology grants to strengthen domestic mining education, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S2469 [20MR] S. 923 — A bill to amend titles XVIII and XIX of the Social Security Act to reform and improve mental health and substance use care under the Medicare and Medicaid programs, and for other purposes; to the Committee on Finance. Cosponsors added, S496 [8FE] S. 928 — A bill to require the Secretary of Veterans Affairs to prepare an annual report on suicide prevention, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S343 [1FE], S1044 [28FE], S2239 [6MR], S2279 [7MR], S2516 [21MR], S2707 [10AP], S2828 [17AP], S2932 [19AP], S2999 [23AP], S3079 [30AP], S3135 [1MY], S4019 [11JN] S. 930 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide public safety officer benefits for exposure-related cancers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S3711 [15MY], S3992 [5JN] Reported with amendment (no written report), S3990 [5JN] S. 935 — A bill to require reporting regarding certain drug price increases, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3079 [30AP] S. 949 — A bill to amend the Food and Nutrition Act of 2008 to transition the Commonwealth of Puerto Rico to the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S48 [9JA], S2331 [8MR], S2707 [10AP] S. 956 — A bill to amend title 10, United States Code, to improve dependent coverage under the TRICARE Young Adult Program; to the Committee on Armed Services. Cosponsors added, S147 [17JA], S186 [18JA] S. 961 — A bill to redesignate the Salem Maritime National Historic Site in Salem, Massachusetts, as the ‘‘Salem Maritime National Historic Park’’, and for other purposes; to the Committee on Energy and Natural Resources. Reported (S. Rept. 118–152), S47 [9JA] S. 963 — A bill to provide enhanced student loan relief to educators; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2279 [7MR] S. 980 — A bill to amend the Agricultural Marketing Act of 1946 to exempt industrial hemp from certain requirements under the hemp production program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2707 [10AP] S. 992 — A bill to amend the Intermodal Surface Transportation Efficiency Act of 1991 to designate the Texas and New Mexico portions of the future Interstate-designated segments of the Port-to-Plains Corridor as Interstate Route 27, and for other purposes; to the Committee on Environment and Public Works. Senate consideration of House amendment, S2252 [7MR] Senate agreed to House amendment, S2253 [7MR] Message from the House (received March 8, 2024, during adjournment), S2345 [11MR] Examined and signed in the Senate, S2512 [21MR] Examined and signed in the House (March 8, 2024), H1091 [11MR] Presented to the President, S2512 [21MR] Approved [Public Law 118–45] (signed March 22, 2024) S. 993 — A bill to prohibit certain uses of xylazine, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S202 [22JA] S. 995 — A bill to promote democracy in Venezuela, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S422 [6FE] S. 1000 — A bill to amend title XVIII of the Social Security Act to improve the accuracy of market-based Medicare payment for clinical diagnostic laboratory services, to reduce administrative burdens in the collection of data, and for other purposes; to the Committee on Finance. Cosponsors added, S3711 [15MY] S. 1007 — A bill to establish in the Bureau of Democracy, Human Rights, and Labor of the Department of State a Special Envoy for the Human Rights of LGBTQI+ Peoples, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S147 [17JA], S2874 [18AP], S3079 [30AP] S. 1008 — A bill to require the Consumer Product Safety Commission to promulgate a consumer product safety standard with respect to rechargeable lithium-ion batteries used in micromobility devices, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2469 [20MR] S. 1024 — A bill to authorize the Secretary of Health and Human Services to award grants to eligible entities to develop and implement a comprehensive program to promote student access to defibrillation in public elementary schools and secondary schools; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3885 [23MY], S3955 [4JN], S4055 [12JN], S4085 [13JN] S. 1026 — A bill to authorize the appropriation of funds to the Centers for Disease Control and Prevention for conducting or supporting research on firearms safety or gun violence prevention; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S94 [11JA] S. 1028 — A bill to amend title 38, United States Code, to expand health care and benefits from the Department of Veterans Affairs for military sexual trauma, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S4019 [11JN], S4115 [17JN] S. 1034 — A bill to amend title 23, United States Code, to establish a competitive grant program for projects for commercial motor vehicle parking, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S48 [9JA], S2402 [14MR] S. 1036 — A bill to amend the Food and Nutrition Act of 2008 to streamline nutrition access for older adults and adults with disabilities, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S443 [7FE] S. 1038 — A bill to amend title XIX of the Social Security Act to improve transparency and prevent the use of abusive spread pricing and related practices in the Medicaid program; to the Committee on Finance. Cosponsors added, S3079 [30AP] S. 1053 — A bill to amend title 5, United States Code, to limit the use of taxpayer funded union time for employees of the Internal Revenue Service, and for other purposes; to the Committee on Finance. Cosponsors added, S2741 [15AP] S. 1064 — A bill to direct the Secretary of Health and Human Services to carry out a national project to prevent and cure Parkinson’s, to be known as the National Parkinson’s Project, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S422 [6FE], S443 [7FE], S985 [26FE], S1012 [27FE], S2598 [22MR], S2667 [9AP], S2719 [11AP], S2874 [18AP], S3755 [16MY], S3815 [21MY] S. 1069 — A bill to amend the Toxic Substances Control Act to prohibit the manufacture, processing, use, and distribution in commerce of commercial asbestos and mixtures and articles containing commercial asbestos, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S422 [6FE], S1012 [27FE] S. 1071 — A bill to amend the Higher Education Act of 1965 to provide students with disabilities and their families with access to critical information needed to select the right college and succeed once enrolled; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2279 [7MR] S. 1085 — A bill to provide authorization for nonpecuniary damages in an action resulting from a cruise ship voyage occurring on the high seas; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S186 [18JA] S. 1094 — A bill to provide a temporary safe harbor for publishers of online content to collectively negotiate with dominant online platforms regarding the terms on which content may be distributed; to the Committee on the Judiciary. Cosponsors added, S16 [8JA], S2402 [14MR] S. 1110 — A bill to amend title XVIII of the Social Security Act to rebase the calculation of payments for sole community hospitals and Medicare-dependent hospitals, and for other purposes; to the Committee on Finance. Cosponsors added, S288 [30JA], S985 [26FE], S3755 [16MY] S. 1111 — A bill to enhance United States civil nuclear leadership, support the licensing of advanced nuclear technologies, strengthen the domestic nuclear energy fuel cycle and supply chain, and improve the regulation of nuclear energy, and for other purposes; to the Committee on Environment and Public Works. Report to accompany (S. Rept. 118–182), S4115 [17JN] S. 1113 — A bill to amend the Public Health Service Act to establish direct care registered nurse-to-patient staffing ratio requirements in hospitals, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3079 [30AP] S. 1115 — A bill to require the Secretary of Labor to revise the Standard Occupational Classification System to accurately count the number of emergency medical services practitioners in the United States; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2667 [9AP] S. 1118 — A bill to establish the Open Access Evapotranspiration (OpenET) Data Program; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–164), S2666 [9AP] S. 1135 — A bill to amend title XXVII of the Public Health Service Act, the Employee Retirement Income Security Act of 1974, the Internal Revenue Code of 1986, and the Patient Protection and Affordable Care Act to require coverage of hearing devices and systems in certain private health insurance plans, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3135 [1MY], S3885 [23MY], S4181 [20JN] S. 1141 — A bill to amend the Controlled Substances Act with respect to the scheduling of fentanyl-related substances, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S3686 [14MY] S. 1147 — A bill to amend the Child Abuse Prevention and Treatment Act to provide for grants in support of training and education to teachers and other school employees, students, and the community about how to prevent, recognize, respond to, and report child sexual abuse among primary and secondary school students; to the Committee on Health, Education, Labor, and Pensions. Amendments, S802, S803 [9FE] Committee discharged. Passed Senate amended, S802 [9FE] S. 1149 — A bill to amend the Pittman-Robertson Wildlife Restoration Act to make supplemental funds available for management of fish and wildlife species of greatest conservation need as determined by State fish and wildlife agencies, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S343 [1FE], S2932 [19AP] S. 1156 — A bill to establish an Office of Native American Affairs within the Small Business Administration, and for other purposes; to the Committee on Small Business and Entrepreneurship. Cosponsors added, S422 [6FE] S. 1159 — A bill to amend the Equal Credit Opportunity Act to modify the requirements associated with small business loan data collection, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S4115 [17JN] S. 1161 — A bill to amend the Food Security Act of 1985 to reauthorize the voluntary public access and habitat incentive program; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2790 [16AP] S. 1164 — A bill to amend the Infrastructure Investment and Jobs Act to authorize the Secretary of Agriculture, acting through the Chief of the Forest Service, to enter into contracts, grants, and agreements to carry out certain ecosystem restoration activities, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S1012 [27FE] S. 1171 — A bill to amend chapter 131 of title 5, United States Code, to prevent Members of Congress and their spouses and dependent children from trading stocks and owning stocks, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S3885 [23MY] S. 1172 — A bill to amend title 28, United States Code, to make certain improvements relating to the eligibility of veterans to receive reimbursement for emergency treatment furnished to veterans in non-Department of Veterans Affairs facilities, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S1044 [28FE] S. 1176 — A bill to direct the Secretary of Labor to issue an occupational safety and health standard that requires covered employers within the health care and social service industries to develop and implement a comprehensive workplace violence prevention plan, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3079 [30AP] S. 1183 — A bill to prohibit discrimination on the basis of mental or physical disability in cases of organ transplants; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S222 [23JA], S444 [7FE], S2667 [9AP], S4115 [17JN], S4153 [18JN] S. 1186 — A bill to restrict the first-use strike of nuclear weapons; to the Committee on Foreign Relations. Cosponsors added, S2516 [21MR] S. 1187 — A bill to establish the right to counsel, at Government expense for those who cannot afford counsel, for people facing removal; to the Committee on the Judiciary. Cosponsors added, S361 [5FE] S. 1189 — A bill to establish a pilot grant program to improve recycling accessibility, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S496 [8FE], S2402 [14MR] Amendments, S2367, S2368 [12MR] Passed Senate amended, S2368 [12MR] Text, S2368 [12MR] Message from the Senate (received March 14, 2024), H1185 [15MR] Held at the desk, H1185 [15MR] S. 1193 — A bill to prohibit discrimination against individuals with disabilities who need long-term services and supports, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3503 [7MY], S3855 [22MY] S. 1194 — A bill to require the Administrator of the Environmental Protection Agency to carry out certain activities to improve recycling and composting programs in the United States, and for other purposes; to the Committee on Environment and Public Works. Amendments, S2367, S2369 [12MR] Passed Senate amended, S2368 [12MR] Text, S2369 [12MR] Message from the Senate (received March 14, 2024), H1185 [15MR] Held at the desk, H1185 [15MR] S. 1199 — A bill to combat the sexual exploitation of children by supporting victims and promoting accountability and transparency by the tech industry; to the Committee on the Judiciary. Cosponsors added, S361 [5FE] Objection is heard to request for consideration, S413 [6FE], S2229 [6MR] S. 1202 — A bill to require full funding of part A of title I of the Elementary and Secondary Education Act of 1965 and the Individuals with Disabilities Education Act; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S288 [30JA] S. 1206 — A bill to amend the Religious Freedom Restoration Act of 1993 to protect civil rights and otherwise prevent meaningful harm to third parties, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S2874 [18AP] S. 1207 — A bill to establish a National Commission on Online Child Sexual Exploitation Prevention, and for other purposes; to the Committee on the Judiciary. Objection is heard to request for consideration, S2229 [6MR] Cosponsors added, S2279 [7MR] S. 1231 — A bill to prohibit disinformation in the advertising of abortion services, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2402 [14MR] S. 1237 — A bill to restore the exemption of family farms and small businesses from the definition of assets under title IV of the Higher Education Act of 1965; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S251 [24JA], S288 [30JA], S1078 [29FE] S. 1245 — A bill to transfer unobligated balances made available for COVID–19 emergency response and relief to the Federal Communications Commission to enable the Commission to carry out the Secure and Trusted Communications Networks Reimbursement Program; to the Committee on Finance. Cosponsors added, S3755 [16MY] S. 1248 — A bill to expand eligibility for and provide judicial review for the Elderly Home Detention Pilot Program, and make other technical corrections; to the Committee on the Judiciary. Cosponsors added, S222 [23JA], S1078 [29FE], S2279 [7MR] S. 1251 — A bill to reform sentencing laws and correctional institutions, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S309 [31JA] S. 1252 — A bill to support the human rights of Uyghurs and members of other ethnic groups residing primarily in the Xinjiang Uyghur Autonomous Region and safeguard their distinct civilization and identity, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S2440 [19MR], S2469 [20MR], S2790 [16AP] S. 1253 — A bill to increase the number of U.S. Customs and Border Protection Customs and Border Protection officers and support staff and to require reports that identify staffing, infrastructure, and equipment needed to enhance security at ports of entry; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S4085 [13JN] S. 1254 — A bill to designate and expand wilderness areas in Olympic National Forest in the State of Washington, and to designate certain rivers in Olympic National Forest and Olympic National Park as wild and scenic rivers, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–184), S4152 [18JN] S. 1258 — A bill to require the Director of the Office of management and Budget to submit to Congress an annual report on projects that are over budget and behind schedule, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Reported (S. Rept. 118–157), S599 [9FE] Passed Senate, S2616 [22MR] Text, S2616 [22MR] Message from the Senate (received March 25, 2024), H2117 [26MR] Held at the desk, H2117 [26MR] S. 1266 — A bill to amend titles 10 and 38, United State Code, to improve benefits and services for surviving spouses, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S422 [6FE], S2667 [9AP], S2828 [17AP], S3855 [22MY], S4115 [17JN] S. 1267 — A bill to amend the Fair Housing Act to prohibit discrimination based on source of income, veteran status, or military status; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S444 [7FE], S2790 [16AP] S. 1271 — A bill to impose sanctions with respect to trafficking of illicit fentanyl and its precursors by transnational criminal organizations, including cartels, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S74 [10JA], S496 [8FE] S. 1273 — A bill to require a study on Holocaust education efforts of States, local educational agencies, and public elementary and secondary schools, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S2279 [7MR], S2440 [19MR] S. 1274 — A bill to permanently exempt payments made from the Railroad Unemployment Insurance Account from sequestration under the Balanced Budget and Emergency Deficit Control Act of 1985; to the Committee on the Budget. Cosponsors added, S48 [9JA], S2279 [7MR], S2347 [11MR], S2402 [14MR], S2874 [18AP] Reported (no written report), S2238 [6MR] S. 1278 — A bill to designate the Federal building located at 985 Michigan Avenue in Detroit, Michigan, as the ‘‘Rosa Parks Federal Building’’, and for other purposes; to the Committee on Environment and Public Works. Text, H1073 [11MR] Rules suspended. Passed House, H1171 [13MR] Message from the House, S2399 [14MR], S2466 [20MR] Examined and signed in the Senate, S2466 [20MR] Examined and signed in the House, H1294 [20MR] Presented to the President (March 20, 2024), S2466 [20MR] Approved [Public Law 118–46] (signed March 22, 2024) S. 1297 — A bill to ensure the right to provide reproductive health care services, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S48 [9JA], S3503 [7MY], S3992 [5JN] S. 1300 — A bill to require the Secretary of the Treasury to mint coins in recognition of the late Prime Minister Golda Meir and the 75th anniversary of the United States-Israel relationship; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S147 [17JA], S269 [25JA], S496 [8FE], S2440 [19MR], S4153 [18JN] S. 1302 — A bill to amend title XVIII of the Social Security Act to provide for the distribution of additional residency positions, and for other purposes; to the Committee on Finance. Cosponsors added, S2402 [14MR], S2828 [17AP] S. 1303 — A bill to require sellers of event tickets to disclose comprehensive information to consumers about ticket prices and related fees; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2719 [11AP] S. 1307 — A bill to ensure that students in schools have a right to read, and for other purposes; to the Committee on Health, Education, Labor , and Pensions. Cosponsors added, S422 [6FE], S955 [12FE], S985 [26FE] S. 1318 — A bill to provide enhanced protections for election workers; to the Committee on Rules and Administration. Cosponsors added, S48 [9JA], S3079 [30AP], S4055 [12JN] S. 1322 — A bill to amend the Act of August 9, 1955, to modify the authorized purposes and term period of tribal leases, and for other purposes; to the Committee on Indian Affairs. Reported with amendment (S. Rept. 118–159), S2364 [12MR] S. 1330 — A bill to amend title 38, United States Code, to provide a burial and funeral allowance for certain veterans who die at home or in other settings while in receipt of hospice care furnished by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S4153 [18JN] S. 1332 — A bill to require the Office of Management and Budget to revise the Standard Occupational Classification system to establish a separate code for direct support professionals, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S599 [9FE], S3135 [1MY] Passed Senate amended, S2477 [20MR] Amendments, S2477 [20MR] Title amended, S2477 [20MR] Message from the Senate, H1307 [21MR] Held at the desk, H1307 [21MR] S. 1333 — A bill to authorize the Secretary of Health and Human Services, acting through the Administrator of the Health Resources and Services Administration, to award grants for providing evidence-based caregiver skills training to family caregivers of children with autism spectrum disorder or other developmental disabilities or delays, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2667 [9AP] S. 1336 — A bill to amend the Food and Nutrition Act of 2008 to require that supplemental nutrition assistance program benefits be calculated using the value of the low-cost food plan, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2239 [6MR] S. 1348 — A bill to redesignate land within certain wilderness study areas in the State of Wyoming, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–185), S4152 [18JN] S. 1349 — A bill to establish a postsecondary student data system; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S1012 [27FE], S4181 [20JN] S. 1351 — A bill to study and prevent child abuse in youth residential programs, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S48 [9JA], S186 [18JA], S343 [1FE], S985 [26FE] S. 1358 — A bill to amend the Water Resources Development Act of 1992 and the Flood Control Act of 1968 to provide for provisions relating to collection and retention of user fees at recreation facilities, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S3992 [5JN] S. 1367 — A bill to amend XIX of the Social Security Act to cover physician services delivered by podiatric physicians to ensure access by Medicaid beneficiaries to appropriate quality foot and ankle care, to amend title XVIII of such Act to modify the requirements for diabetic shoes to be included under Medicare, and for other purposes; to the Committee on Finance. Cosponsors added, S2516 [21MR], S3079 [30AP] S. 1376 — A bill to amend title 9 of the United States Code with respect to arbitration; to the Committee on the Judiciary. Cosponsors added, S496 [8FE] S. 1384 — A bill to promote and protect from discrimination living organ donors; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S1012 [27FE], S2347 [11MR], S2516 [21MR], S3079 [30AP], S3955 [4JN], S4019 [11JN] S. 1400 — A bill to amend the Food Security Act of 1985 to modify the delivery of technical assistance, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S269 [25JA], S2279 [7MR], S2469 [20MR] S. 1405 — A bill to provide for the exchange of certain Federal land and State land in the State of Utah; to the Committee on Energy and Natural Resources. Reported (S. Rept. 118–153), S47 [9JA] S. 1408 — A bill to amend title 9, United States Code, with respect to arbitration of disputes involving race discrimination; to the Committee on the Judiciary. Cosponsors added, S288 [30JA], S3000 [23AP], S3686 [14MY], S3992 [5JN] S. 1409 — A bill to protect the safety of children on the internet; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S1012 [27FE], S2279 [7MR], S2707 [10AP], S2933 [19AP] S. 1418 — A bill to amend the Children’s Online Privacy Protection Act of 1998 to strengthen protections relating to the online collection, use, and disclosure of personal information of children and teens, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S985 [26FE], S2741 [15AP], S2828 [17AP], S4019 [11JN], S4181 [20JN] S. 1424 — A bill to amend title XXVII of the Public Health Service Act to improve health care coverage under vision and dental plans, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2707 [10AP], S3000 [23AP], S4055 [12JN] S. 1426 — A bill to improve the identification and support of children and families who experience trauma; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2645 [8AP] S. 1427 — A bill to exempt certain entities from liability under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 with respect to releases of perfluoroalkyl and polyfluoroalkyl substances, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S4085 [13JN] S. 1429 — A bill to exempt certain entities from liability under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 with respect to releases of perfluoroalkyl and polyfluoroalkyl substances, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S4085 [13JN] S. 1430 — A bill to exempt certain entities from liability under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 with respect to releases of perfluoroalkyl and polyfluoroalkyl substances, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S2720 [11AP], S4085 [13JN] S. 1432 — A bill to exempt certain entities from liability under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 for the release of certain perfluoroalkyl or polyfluoroalkyl substances, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S4085 [13JN] S. 1433 — A bill to exempt certain aviation entities from liability under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 for the release of certain perfluoroalkyl or polyfluoroalkyl substances, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S2720 [11AP], S4085 [13JN] S. 1442 — A bill to amend the Community Development Banking and Financial Institutions Act of 1994 to adjust for inflation the maximum amount of assistance provided by the Community Development Financial Institutions Fund, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S94 [11JA], S1044 [28FE], S2440 [19MR] S. 1462 — A bill to amend title 18, United States Code, to improve the Law Enforcement Officers Safety Act of 2004 and provisions relating to the carrying of concealed weapons by law enforcement officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S1044 [28FE], S2645 [8AP], S4019 [11JN] S. 1467 — A bill to amend the Internal Revenue Code of 1986 to allow a refundable tax credit against income tax for the purchase of qualified access technology for the blind; to the Committee on Finance. Cosponsors added, S288 [30JA] S. 1474 — A bill to amend the Food and Nutrition Act of 2008 to establish a dairy nutrition incentive program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S94 [11JA] S. 1481 — A bill to amend the Investment Company Act of 1940 to postpone the date of payment or satisfaction upon redemption of certain securities in the case of the financial exploitation of specified adults, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S3655 [9MY] S. 1488 — A bill to amend the Food and Nutrition Act of 2008 to remove certain eligibility disqualifications that restrict otherwise eligible students from participating in the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S3079 [30AP] S. 1514 — A bill to amend the National Housing Act to establish a mortgage insurance program for first responders, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S288 [30JA], S599 [9FE], S2213 [5MR], S2707 [10AP], S2790 [16AP], S2828 [17AP], S3711 [15MY], S3955 [4JN] S. 1516 — A bill to authorize funding to expand and support enrollment at institutions of higher education that sponsor construction and manufacturing-oriented registered apprenticeship programs, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3780 [20MY] S. 1521 — A bill to amend the Federal Power Act to modernize and improve the licensing of non-Federal hydropower projects, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S2598 [22MR] S. 1527 — A bill to amend title 10, United States Code, to ensure that members of the Armed Forces and their families have access to the contraception they need in order to promote the health and readiness of all members of the Armed Forces, and for other purposes; to the Committee on Armed Services. Cosponsors added, S94 [11JA], S269 [25JA], S3955 [4JN] S. 1529 — A bill to amend the Animal Welfare Act to provide for greater protection of roosters, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S74 [10JA], S222 [23JA], S251 [24JA], S3655 [9MY], S3885 [23MY] S. 1538 — A bill to authorize the Secretary of Education to award grants for outdoor learning spaces and to develop living schoolyards; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S202 [22JA] S. 1557 — A bill to amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes; to the Committee on Finance. Cosponsors added, S2440 [19MR] S. 1558 — A bill to award a Congressional Gold Medal, collectively, to the brave women who served in World War II as members of the U.S. Army Nurse Corps and U.S. Navy Nurse Corps; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S343 [1FE], S985 [26FE], S1044 [28FE], S4019 [11JN], S4055 [12JN], S4115 [17JN], S4154 [18JN] S. 1560 — A bill to require the development of a comprehensive rural hospital cybersecurity workforce development strategy, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Reported with amendment (S. Rept. 118–170), S3653 [9MY] Cosponsors added, S3931 [3JN] S. 1565 — A bill to require Executive agencies to submit to Congress a study of the impacts of expanded telework and remote work by agency employees during the COVID–19 pandemic and a plan for the agency’s future use of telework and remote work, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2347 [11MR] S. 1567 — A bill to amend the Internal Revenue Code of 1986 to address the teacher and school leader shortage in early childhood, elementary, and secondary education, and for other purposes; to the Committee on Finance. Cosponsors added, S2645 [8AP] S. 1570 — A bill to amend the Bottles and Breastfeeding Equipment Screening Act to require hygienic handling of breast milk and baby formula by security screening personnel of the Transportation Security Administration and personnel of private security companies providing security screening, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S288 [30JA] S. 1573 — A bill to reauthorize the Prematurity Research Expansion and Education for Mothers who deliver Infants Early Act; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S309 [31JA], S2741 [15AP], S3504 [7MY], S4055 [12JN] S. 1596 — A bill to amend the Federal Election Campaign Act of 1971 to provide further transparency and accountability for the use of content that is generated by artificial intelligence (generative AI) in political advertisements by requiring such advertisements to include a statement within the contents of the advertisements if generative AI was used to generate any image or video footage in the advertisements, and for other purposes; to the Committee on Rules and Administration. Cosponsors added, S310 [31JA] S. 1601 — A bill to protect moms and babies against climate change, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2440 [19MR] S. 1602 — A bill to provide for grants to address maternal mental health conditions and substance use disorders, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S444 [7FE] S. 1625 — A bill to amend the Internal Revenue Code of 1986 to provide for an election to expense certain qualified sound recording costs otherwise chargeable to capital account; to the Committee on Finance. Cosponsors added, S222 [23JA] S. 1627 — A bill to amend the Internal Revenue Code of 1986 to create a tax credit for nurse preceptors; to the Committee on Finance. Cosponsors added, S16 [8JA] S. 1631 — A bill to enhance the authority granted to the Department of Homeland Security and Department of Justice with respect to unmanned aircraft systems and unmanned aircraft, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S74 [10JA], S94 [11JA], S599 [9FE], S2402 [14MR], S2469 [20MR], S3504 [7MY], S3780 [20MY], S4055 [12JN], S4154 [18JN] S. 1642 — A bill to amend the Rural Electrification Act of 1936 to establish the ReConnect program under that Act, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S1012 [27FE] S. 1651 — A bill to encourage increased trade and investment between the United States and the countries in the Western Balkans, and for other purposes; to the Committee on Foreign Relations. Reported with amendment (no written report), S3503 [7MY] S. 1654 — A bill to amend the Fair Credit Reporting Act to clarify Federal law with respect to reporting certain positive consumer credit information to consumer reporting agencies, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S361 [5FE] S. 1656 — A bill to protect the privacy of personal reproductive or sexual health information, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2239 [6MR], S3686 [14MY] S. 1658 — A bill to amend title 5, United States Code, to include certain Federal positions within the definition of law enforcement officer for retirement purposes, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S985 [26FE] S. 1661 — A bill to establish the Strength in Diversity Program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3815 [21MY], S4055 [12JN] S. 1662 — A bill to direct the Secretary of the Interior to convey to the Midvale Irrigation District the Pilot Butte Power Plant in the State of Wyoming, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–165), S2666 [9AP] S. 1669 — A bill to require the Secretary of Transportation to issue a rule requiring access to AM broadcast stations in motor vehicles, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S48 [9JA], S986 [26FE], S3135 [1MY], S3686 [14MY], S4085 [13JN] S. 1673 — A bill to amend title XVIII to protect patient access to ground ambulance services under the Medicare program; to the Committee on Finance. Cosponsors added, S2828 [17AP], S3755 [16MY], S3855 [22MY] S. 1677 — A bill to secure the Federal voting rights of persons when released from incarceration; to the Committee on the Judiciary. Cosponsors added, S2213 [5MR], S2279 [7MR], S2598 [22MR] S. 1686 — A bill to establish a community disaster assistance fund for housing and community development and to authorize the Secretary of Housing and Urban Development to provide, from the fund, assistance through a community development block grant disaster recovery program, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S3135 [1MY] S. 1688 — A bill to require certain grantees under title I of the Housing and Community Development Act of 1975 to submit a plan to track discriminatory land use policies, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S16 [8JA], S3931 [3JN] S. 1695 — A bill to amend the Internal Revenue Code of 1986 to provide a credit to issuers of American infrastructure bonds; to the Committee on Finance. Cosponsors added, S496 [8FE] S. 1703 — A bill to amend title XVIII of the Social Security Act to ensure Medicare-only PACE program enrollees have a choice of prescription drug plans under Medicare part D; to the Committee on Finance. Cosponsors added, S3655 [9MY] S. 1705 — A bill to amend the Student Support and Academic Enrichment Grant program to promote career awareness in accounting as part of a well-rounded STEM educational experience; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S147 [17JA], S2790 [16AP] S. 1706 — A bill to amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income; to the Committee on Finance. Cosponsors added, S251 [24JA], S2279 [7MR] S. 1714 — A bill to provide paid family leave benefits to certain individuals, and for other purposes; to the Committee on Finance. Cosponsors added, S2645 [8AP] S. 1715 — A bill to direct the Secretary of Agriculture to select and implement landscape-scale forest restoration projects, to assist communities in increasing their resilience to wildfire, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S48 [9JA] S. 1723 — A bill to establish the Truth and Healing Commission on Indian Boarding School Policies in the United States, and for other purposes; to the Committee on Indian Affairs. Cosponsors added, S2331 [8MR], S2790 [16AP] S. 1729 — A bill to facilitate nationwide accessibility and coordination of 211 services and 988 services in order to provide information and referral to all residents and visitors in the United States for mental health emergencies, homelessness needs, other social and human services needs, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S269 [25JA] S. 1733 — A bill to make the assault of a law enforcement officer a deportable offense, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S2440 [19MR] S. 1742 — A bill to modify the requirements applicable to locatable minerals on public domain land, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S3755 [16MY] S. 1753 — A bill to amend the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 to allow individuals with drug offenses to receive benefits under the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2279 [7MR] S. 1756 — A bill to amend the Farm Credit Act of 1971 to support the commercial fishing industry; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S986 [26FE] S. 1762 — A bill to prohibit the use of corporal punishment in schools, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S4055 [12JN] S. 1772 — A bill to establish a national mercury monitoring program, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S3931 [3JN] S. 1792 — A bill to amend title 38, United States Code, to modify the program of comprehensive assistance for family caregivers of veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S2933 [19AP], S3955 [4JN] S. 1795 — A bill to modify the criteria for recognition of accrediting agencies or associations for institutions of higher education; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S422 [6FE] S. 1800 — A bill to amend the Public Health Service Act to reauthorize and extend the Fetal Alcohol Spectrum Disorders Prevention and Services program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S48 [9JA], S4055 [12JN] S. 1803 — A bill to amend title XVIII of the Social Security Act to revise payment for air ambulance services under the Medicare program; to the Committee on Finance. Cosponsors added, S496 [8FE], S3655 [9MY] S. 1822 — A bill to require U.S. Customs and Border Protection to expand the use of non-intrusive inspection systems at land ports of entry; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S3992 [5JN] S. 1829 — A bill to impose sanctions with respect to persons engaged in the import of petroleum from the Islamic Republic of Iran, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S48 [9JA], S222 [23JA], S288 [30JA], S955 [12FE], S2874 [18AP] Reported with amendment (no written report), S3503 [7MY] S. 1833 — A bill to prohibit the issuance of an interim or final rule that amends, updates, modifies, or replaces the North Atlantic Right Whale vessel strike reduction rule until mitigation protocols are fully developed and deployed; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S3755 [16MY] S. 1835 — A bill to require the Cybersecurity and Infrastructure Security Agency of the Department of Homeland Security to develop a campaign program to raise awareness regarding the importance of cybersecurity in the United States; to the Committee on Homeland Security and Governmental Affairs. Reported with amendment (S. Rept. 118–171), S3653 [9MY] S. 1838 — A bill to amend the Electronic Fund Transfer Act to require the Board of Governors of the Federal Reserve system to prescribe regulations relating to network competition in credit card transactions, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S955 [12FE], S986 [26FE] S. 1839 — A bill to improve Federal population surveys by requiring the collection of voluntary, self-disclosed information on sexual orientation, gender identity, and variations in sex characteristics in certain surveys, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S288 [30JA], S2667 [9AP] S. 1840 — A bill to amend the Public Health Service Act to reauthorize and improve the National Breast and Cervical Cancer Early Detection Program for fiscal years 2024 through 2028, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Reported with amendment (no written report), S342 [1FE] Cosponsors added, S3955 [4JN] S. 1842 — A bill to amend the Federal Food, Drug, and Cosmetic Act with respect to the regulation of zootechnical animal food substances; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S48 [9JA], S1078 [29FE], S2720 [11AP] S. 1843 — A bill to amend the Immigration and Nationality Act to require a DNA test to determine the familial relationship between an alien and an accompanying minor, and for other purposes; to the Committee on the Judiciary. Objection is heard to request for consideration, S3871 [23MY] S. 1845 — A bill to amend title XI of the Social Security Act to provide for the testing of a community-based palliative care model; to the Committee on Finance. Cosponsors added, S2440 [19MR], S2516 [21MR] S. 1851 — A bill to address maternity care shortages and promote optimal maternity outcomes by expanding educational opportunities for midwives, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S186 [18JA], S2598 [22MR] S. 1858 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to establish a deadline for applying for disaster unemployment assistance; to the Committee on Homeland Security and Governmental Affairs. Rules suspended. Passed House, H1073 [11MR] Text, H1073 [11MR] Message from the House, S2364 [12MR], S2399 [14MR] Examined and signed in the Senate, S2399 [14MR] Examined and signed in the House, H1177 [13MR] Presented to the President, S2400 [14MR] Approved [Public Law 118–44] (signed March 18, 2024) S. 1863 — A bill to require the Secretary of Energy to conduct a study and submit a report on the greenhouse gas emissions intensity of certain products produced in the United States and in certain foreign countries, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S147 [17JA] Reported with amendment (no written report), S268 [25JA] S. 1867 — A bill to authorize the Secretary of Agriculture to carry out an initiative to develop, expand, and improve rural childcare, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S3815 [21MY] S. 1881 — A bill to reauthorize and amend the Nicaraguan Investment Conditionality Act of 2018 and the Reinforcing Nicaragua’s Adherence to Conditions for Electoral Reform Act of 2021, and for other purposes; to the Committee on Foreign Relations. Reported with amendment (no written report), S3503 [7MY] S. 1885 — A bill to eliminate employment-based visa caps on abused, abandoned, and neglected children eligible for humanitarian status, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S2791 [16AP], S3079 [30AP], S3885 [23MY], S4115 [17JN] S. 1886 — A bill to establish a Federal Clearinghouse on Safety and Best Practices for Nonprofit Organizations, Faith-based Organizations, and Houses of Worship within the Department of Homeland Security, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S202 [22JA] S. 1897 — A bill to require the Secretary of Homeland Security to enhance capabilities for outbound inspections at the southern land border, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2707 [10AP] S. 1906 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish a time-limited provisional approval pathway, subject to specific obligations, for certain drugs and biological products, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S74 [10JA] S. 1909 — A bill to amend title 18, United States Code, to prohibit the illegal modification of firearms, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S4115 [17JN], S4154 [18JN], S4181 [20JN] S. 1917 — A bill to amend the Clean Air Act to provide for the establishment of standards to limit the carbon intensity of the fuel used by certain vessels, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S222 [23JA] S. 1922 — A bill to amend title XVIII of the Social Security Act to provide coverage for wigs as durable medical equipment under the Medicare program, and for other purposes; to the Committee on Finance. Cosponsors added, S2667 [9AP] S. 1924 — A bill to protect human rights and enhance opportunities for LGBTQI people around the world, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S2874 [18AP] S. 1925 — A bill to require the Secretary of Health and Human Services to improve the detection, prevention, and treatment of mental health issues among public safety officers, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S202 [22JA], S1044 [28FE] S. 1931 — A bill to direct the United States Government to support extending the mandate of the Independent International Fact-Finding Mission on Venezuela until a resolution of the Venezuelan crisis is achieved; to the Committee on Foreign Relations. Cosponsors added, S2347 [11MR] S. 1937 — A bill to amend the Internal Revenue Code of 1986 to repeal the excise tax on indoor tanning services; to the Committee on Finance. Cosponsors added, S2347 [11MR] S. 1939 — A bill to amend title 49, United States Code, to authorize appropriations for the Federal Aviation Administration for fiscal years 2024 through 2028, and for other purposes; to the Committee on Commerce, Science, and Transportation. Reported with amendment (no written report), S1076 [29FE] S. 1940 — A bill to prohibit the use of M–44 devices, commonly known as ‘‘cyanide bombs’’, on public land, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S3885 [23MY] S. 1943 — A bill to establish the Council on Improving Federal Civic Architecture, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S1078 [29FE], S2279 [7MR] S. 1950 — A bill to extend the temporary order for fentanyl-related substances; to the Committee on the Judiciary. Cosponsors added, S147 [17JA], S2791 [16AP], S3815 [21MY], S3992 [5JN] S. 1953 — A bill to amend the Internal Revenue Code of 1986 to exclude from gross income amounts received from State-based catastrophe loss mitigation programs; to the Committee on Finance. Cosponsors added, S222 [23JA] S. 1954 — A bill to improve the provision of health care furnished by the Department of Veterans Affairs for veterans diagnosed with diabetes and heart disease, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S2331 [8MR] S. 1955 — A bill to amend the Central Utah Project Completion Act to authorize expenditures for the conduct of certain water conservation measures in the Great Salt Lake basin, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–166), S2666 [9AP] S. 1957 — A bill to amend the Richard B. Russell National School Lunch Act to allow schools that participate in the school lunch program to serve whole milk, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S16 [8JA], S147 [17JA], S955 [12FE], S986 [26FE], S2365 [12MR] S. 1960 — A bill to impose sanctions with respect to foreign persons responsible for violations of the human rights of lesbian, gay, bisexual, transgender, and intersex (LGBTI) individuals, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S3955 [4JN] S. 1975 — A bill to require a GAO study on the compliance of discharge review boards with statutory provisions and directives related to liberal consideration of certain conditions, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S4181 [20JN] S. 1976 — A bill to amend title XVIII of the Social Security Act to clarify congressional intent and preserve patient access to home infusion therapy under the Medicare program, and for other purposes; to the Committee on Finance. Cosponsors added, S270 [25JA] S. 1979 — A bill to amend title 9 of the United States Code with respect to arbitration of disputes involving age discrimination; to the Committee on the Judiciary. Cosponsors added, S2213 [5MR], S2347 [11MR], S2402 [14MR], S2645 [8AP], S3317 [2MY] Reported (no written report), S3753 [16MY] S. 1987 — A bill to provide for the settlement of the water rights claims of the Fort Belknap Indian Community, and for other purposes; to the Committee on Indian Affairs. Committee discharged. Passed Senate amended, S4171 [20JN] Amendments, S4188 [20JN] S. 1992 — A bill to amend the Internal Revenue Code of 1986 to expand the earned income and child tax credits, and for other purposes; to the Committee on Finance. Cosponsors added, S94 [11JA], S3136 [1MY] S. 1999 — A bill to protect an individual’s ability to access contraceptives and to engage in contraception and to protect a health care provider’s ability to provide contraceptives, contraception, and information related to contraception; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2213 [5MR], S2440 [19MR], S3686 [14MY] S. 2003 — A bill to authorize the Secretary of State to provide additional assistance to Ukraine using assets confiscated from the Central Bank of the Russian Federation and other sovereign assets of the Russian Federation, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S74 [10JA], S94 [11JA], S222 [23JA], S251 [24JA], S310 [31JA], S1012 [27FE], S2667 [9AP], S2791 [16AP] Reported with amendment (no written report), S287 [30JA] S. 2004 — A bill to amend the Tariff Act of 1930 relating to de minimis treatment under that Act; to the Committee on Finance. Cosponsors added, S1012 [27FE], S2707 [10AP] S. 2016 — A bill to amend title XVIII of the Social Security Act to expand access to telehealth services, and for other purposes; to the Committee on Finance. Cosponsors added, S2720 [11AP], S3136 [1MY] S. 2018 — A bill to require the Secretary of the Interior to conduct an assessment to identify locations in National Parks in which there is the greatest need for broadband internet access service and areas in National Parks in which there is the greatest need for cellular service, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–154), S47 [9JA] S. 2019 — A bill to prevent States and local jurisdictions from interfering with the production and distribution of agricultural products in interstate commerce, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S186 [18JA] S. 2023 — A bill to amend the Competitive, Special, and Facilities Research Grant Act and the Department of Agriculture Reorganization Act of 1994 to further plant cultivar and animal breed research, development, and commercialization, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2469 [20MR] S. 2032 — A bill to require the reduction of the reliance and expenditures of the Federal Government on legacy information technology systems, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S444 [7FE] Reported with amendment (S. Rept. 118–172), S3653 [9MY] S. 2036 — A bill to prohibit the Secretary of Energy from changing energy conservation standards for distribution transformers for a certain period, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S2470 [20MR], S3000 [23AP] S. 2039 — A bill to amend the Employee Retirement Income Security Act of 1974 to require a group health plan (or health insurance coverage offered in connection with such a plan) to provide for cost-sharing for oral anticancer drugs on terms no less favorable than the cost-sharing provided for anticancer medications administered by a health care provider; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S16 [8JA], S3079 [30AP] S. 2048 — A bill to repeal the Protection of Lawful Commerce in Arms Act, and provide for the discoverability and admissibility of gun trace information in civil proceedings; to the Committee on the Judiciary. Cosponsors added, S2402 [14MR], S2440 [19MR], S2741 [15AP] S. 2051 — A bill to reauthorize the Missing Children’s Assistance Act, and for other purposes; to the Committee on the Judiciary. Text, H2229 [9AP] Rules suspended. Passed House amended, H2233 [9AP] Message from the House, S2704 [10AP], S4018 [11JN] Senate agreed to House amendment, S3999 [5JN] Message from the Senate (received June 6, 2024), H3677 [7JN] Examined and signed in the Senate, S4049 [12JN] Examined and signed in the House, H3723 [11JN] Presented to the President (June 12, 2024), S4049 [12JN] Approved [Public Law 118–65] (signed June 17, 2024) S. 2073 — A bill to amend title 31, United States Code, to require agencies to include a list of outdated or duplicative reporting requirements in annual budget justifications, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Rules suspended. Passed House amended, H2850 [6MY] Text, H2850 [6MY] Message from the House, S3501 [7MY] S. 2076 — A bill to adjust the definition of service in the uniformed services with respect to readmission requirements for servicemembers under the Higher Education Act of 1965; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3885 [23MY] S. 2079 — A bill to amend the Federal Food, Drug, and Cosmetic Act to require the label of a drug intended for human use to identify each ingredient in such drug that is, or is derived directly or indirectly from, a major food allergen or a gluten-containing grain, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S1044 [28FE] S. 2085 — A bill to amend title XVIII of the Social Security Act to provide for Medicare coverage of multi-cancer early detection screening tests; to the Committee on Finance. Cosponsors added, S74 [10JA], S251 [24JA], S2741 [15AP], S4085 [13JN] S. 2086 — A bill to require the Secretary of Commerce to establish the Sea Turtle Rescue Assistance Grant Program; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2213 [5MR] S. 2091 — A bill to amend the Immigration and Nationality Act to increase penalties for individuals who illegally reenter the United States after being removed, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S1012 [27FE] S. 2095 — A bill to authorize the Federal Communications Commission to enforce its own forfeiture penalties with respect to violations of restrictions on the use of telephone equipment; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2598 [22MR] S. 2097 — A bill to amend the Agricultural Act of 2014 to improve a program that provides livestock disaster assistance, and for other programs; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S3992 [5JN] S. 2116 — A bill to require the Secretary of Commerce to produce a report that provides recommendations to improve the effectiveness, efficiency, and impact of Department of Commerce programs related to supply chain resilience and manufacturing and industrial innovation, and for other purposes; to the Committee on Commerce, Science, and Transportation. Passed Senate amended, S3084 [30AP] Amendments, S3084 [30AP] Message from the Senate, H2797 [1MY] Held at the desk, H2797 [1MY] S. 2119 — A bill to reauthorize the Firefighter Cancer Registry Act of 2018; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3755 [16MY] S. 2121 — A bill to establish a centralized system to allow individuals to request the simultaneous deletion of their personal information across all data brokers, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2720 [11AP] S. 2143 — A bill to designate the facility of the United States Postal Service located at 320 South 2nd Avenue in Sioux Falls, South Dakota, as the ‘‘Staff Sergeant Robb Lura Rolfing Post Office Building’’; to the Committee on Homeland Security and Governmental Affairs. Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Text, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 2149 — A bill to sustain economic development and recreational use of National Forest System land in the State of Montana, to add certain land to the National Wilderness Preservation System, to designate new areas for recreation, and for other purposes; to the Committee on Energy and Natural Resources. Reported (S. Rept. 118–155), S47 [9JA] S. 2150 — A bill to establish an Interagency Council on Service to promote and strengthen opportunities for military service, national service, and public service for all people of the United States, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Reported with amendment (S. Rept. 118–173), S3653 [9MY] Cosponsors added, S3780 [20MY], S3855 [22MY] S. 2180 — A bill to amend the Food Security Act of 1985 to require the Secretary of Agriculture to establish a small farm EQIP subprogram under the environmental quality incentives program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2470 [20MR] S. 2181 — A bill to amend title 38, United States Code, to repeal the sunset on entitlement to memorial headstones and markers for commemoration of veterans and certain individuals and to repeal the sunset on authority to bury remains of certain spouses and children in national cemeteries, and for other purposes; to the Committee on Veterans’ Affairs. Committee discharged. Passed Senate, S3294 [1MY] Text, S3294 [1MY] Message from the Senate (received May 3, 2024), H2840 [6MY] Held at the desk, H2840 [6MY] S. 2188 — A bill to increase access to pre-exposure prophylaxis to reduce the transmission of HIV; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2791 [16AP] S. 2195 — A bill to amend the Energy Policy Act of 2005 to reauthorize the diesel emissions reduction program; to the Committee on Environment and Public Works. Passed Senate, S3626 [8MY] Text, S3626 [8MY] Message from the Senate (received May 9, 2024), H3001 [10MY] Held at the desk, H3001 [10MY] S. 2207 — A bill to provide enhanced funding for family planning services; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S1078 [29FE] S. 2216 — A bill to release from wilderness study area designation certain land in the State of Montana, to improve the management of that land, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendment (S. Rept. 118–156), S47 [9JA] S. 2217 — A bill to amend part B of the Individuals with Disabilities Education Act to provide full Federal funding of such part; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S1012 [27FE], S2828 [17AP] S. 2221 — A bill to amend the Internal Revenue Code of 1986 to clarify that all provisions shall apply to legally married same-sex couples in the same manner as other married couples, and for other purposes; to the Committee on Finance. Cosponsors added, S223 [23JA], S2707 [10AP] S. 2223 — A bill to amend the Food, Conservation, and Energy Act of 2008 to provide families year-round access to nutrition incentives under the Gus Schumacher Nutrition Incentive Program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S955 [12FE], S1078 [29FE], S2874 [18AP] S. 2224 — A bill to amend the Internal Revenue Code of 1986 to deny interest and depreciation deductions for taxpayers owning 50 or more single family properties; to the Committee on Finance. Cosponsors added, S251 [24JA] S. 2230 — A bill to prohibit the Securities and Exchange Commission from requiring that personally identifiable information be collected under consolidated audit trail reporting requirements, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S3136 [1MY], S3711 [15MY] S. 2242 — A bill to amend the Clean Air Act to require the Administrator of the Environmental Protection Agency to make available for sale renewable fuel credits, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S1044 [28FE] S. 2245 — A bill to require a review of women and lung cancer, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2279 [7MR], S2667 [9AP] S. 2247 — A bill to reauthorize the Bureau of Reclamation to provide cost-shared funding to implement the endangered and threatened fish recovery programs for the Upper Colorado and San Juan River Basins; to the Committee on Energy and Natural Resources. Reported with amendments (S. Rept. 118–167), S2666 [9AP] S. 2256 — A bill to authorize the Director of the Cybersecurity and Infrastructure Security Agency to establish an apprenticeship program and to establish a pilot program on cybersecurity training for veterans and members of the Armed Forces transitioning to civilian life, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2707 [10AP], S2720 [11AP], S3079 [30AP] S. 2269 — A bill to authorize the Secretary of Agriculture to permit removal of trees around electrical lines on National Forest System land without conducting a timber sale, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S48 [9JA] S. 2274 — A bill to designate the facility of the United States Postal Service located at 112 Wyoming Street in Shoshoni, Wyoming, as the ‘‘Dessie A. Bebout Post Office’’; to the Committee on Homeland Security and Governmental Affairs. Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Text, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 2277 — A bill to increase the benefits guaranteed in connection with certain pension plans, and for other purposes; to the Committee on Finance. Cosponsors added, S444 [7FE] S. 2278 — A bill to establish Image Adjudicator and Supervisory Image Adjudicator positions in the U.S. Customs and Border Protection Office of Field Operations; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2741 [15AP] S. 2291 — A bill to establish the Northern Border Coordination Center, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Amendments, S3994, S3999 [5JN] Passed Senate amended, S3999 [5JN] Text, S4001 [5JN] Message from the Senate (received June 6, 2024), H3677 [7JN] Held at the desk, H3677 [7JN] S. 2294 — A bill to amend title 38, United States Code, to furnish hospital care and medical services to veterans and dependents who were stationed at military installations at which those veterans and dependents were exposed to perfluorooctanoic acid or other perfluoroalkyl and polyfluoroalkyl substances, to provide for a presumption of service connection for certain veterans who were stationed at military installations at which those veterans were exposed to such substances, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S2791 [16AP] S. 2307 — A bill to support and strengthen the fighter aircraft capabilities of the Air Force, and for other purposes; to the Committee on Armed Services. Cosponsors added, S1044 [28FE], S2645 [8AP], S2707 [10AP], S2791 [16AP] S. 2311 — A bill to require the Secretary of the Treasury to mint coins in commemoration of the 2028 Olympic and Paralympic Games in Los Angeles, California; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S422 [6FE], S986 [26FE], S2331 [8MR], S3597 [8MY], S3780 [20MY], S4019 [11JN] S. 2317 — A bill to amend the Agricultural Research, Extension, and Education Reform Act of 1998 and the Food, Agriculture, Conservation, and Trade Act of 1990 to direct the Agricultural Research Service to expand organic research, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S48 [9JA] S. 2323 — A bill to amend title XVIII of the Social Security Act to provide for expanded coverage of services furnished by genetic counselors under part B of the Medicare program, and for other purposes; to the Committee on Finance. Cosponsors added, S2667 [9AP] S. 2327 — A bill to provide support for nationals of Afghanistan who supported the United States mission in Afghanistan, adequate vetting for parolees from Afghanistan, adjustment of status for eligible individuals, and special immigrant status for at-risk Afghan allies and relatives of certain members of the Armed Forces, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S422 [6FE], S444 [7FE] S. 2336 — A bill to address the threat from the development of Iran’s ballistic missile program and the transfer or deployment of Iranian missiles and related goods and technology, including materials and equipment, and for other purposes; to the Committee on Foreign Relations. Reported with amendment (no written report), S3503 [7MY] S. 2337 — A bill to require the Administrator of the Environmental Protection Agency to promulgate certain limitations with respect to pre-production plastic pellet pollution, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S94 [11JA], S147 [17JA], S2280 [7MR], S2598 [22MR] S. 2340 — A bill to establish the Increasing Land, Capital, and Market Access Program within the Farm Service Agency Office of Outreach and Education; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S1078 [29FE], S3597 [8MY], S3931 [3JN] S. 2360 — A bill to establish an Interagency Collaborative and Innovation Pilot Program to Address Hunger and Promote Access to Healthy Food Among Older Adults and Adults with Disabilities; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3815 [21MY] S. 2367 — A bill to improve border security through regular assessments and evaluations of the Checkpoint Program Management Office and effective training of U.S. Border Patrol agents regarding drug seizures; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S310 [31JA] S. 2371 — A bill to amend the Internal Revenue Code of 1986 to exclude from gross income interest received on certain loans secured by rural or agricultural real property; to the Committee on Finance. Cosponsors added, S3855 [22MY] S. 2372 — A bill to amend title XIX of the Social Security Act to streamline enrollment under the Medicaid program of certain providers across State lines, and for other purposes; to the Committee on Finance. Cosponsors added, S74 [10JA], S203 [22JA], S422 [6FE], S1013 [27FE], S1078 [29FE], S2239 [6MR], S2516 [21MR], S3712 [15MY], S4116 [17JN] S. 2374 — A bill to exclude certain individuals subject to certain deferred action from eligibility for health plans offered on the Exchanges, advance payments of the premium tax credit, cost-sharing reductions, a Basic Health Program, and for Medicaid and the Children’s Health Insurance Programs, and for other purposes; to the Committee on Finance. Cosponsors added, S3755 [16MY] S. 2379 — A bill to amend title XVIII of the Social Security Act to provide for certain cognitive impairment detection in the Medicare annual wellness visit and initial preventive physical examination; to the Committee on Finance. Cosponsors added, S223 [23JA] S. 2384 — A bill to provide lawful permanent resident status for certain advanced STEM degree holders, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S122 [16JA] S. 2388 — A bill to amend the Consolidated Farm and Rural Development Act to establish a cybersecurity circuit rider program to provide cybersecurity-related technical assistance to certain entities that operate rural water or wastewater systems; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S48 [9JA] S. 2389 — A bill to require the Secretary of the Interior to conduct certain offshore lease sales under the Outer Continental Shelf Lands Act; to the Committee on Energy and Natural Resources. Cosponsors added, S147 [17JA], S186 [18JA] S. 2397 — A bill to amend section 495 of the Public Health Service Act to require inspections of foreign laboratories conducting biomedical and behavioral research to ensure compliance with applicable animal welfare requirements, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S48 [9JA], S2707 [10AP], S3655 [9MY] S. 2407 — A bill to amend title XVIII of the Social Security Act to provide for the coordination of programs to prevent and treat obesity, and for other purposes; to the Committee on Finance. Cosponsors added, S48 [9JA], S310 [31JA], S2213 [5MR], S2874 [18AP], S4019 [11JN] S. 2414 — A bill to require agencies with working dog programs to implement the recommendations of the Government Accountability Office relating to the health and welfare of working dogs, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Passed Senate amended, S98 [11JA] Amendments, S98 [11JA] Message from the Senate, H219 [18JA] Held at the desk, H219 [18JA] S. 2415 — A bill to amend title III of the Public Health Service Act to reauthorize Federal support of States in their work to save and sustain the health of mothers during pregnancy, childbirth, and the postpartum period, to eliminate disparities in maternal health outcomes for pregnancy-related and pregnancy-associated deaths, to identify solutions to improve health care quality and health outcomes for mothers, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S288 [30JA], S1013 [27FE], S2239 [6MR], S2365 [12MR], S2440 [19MR], S2598 [22MR], S2667 [9AP], S2720 [11AP], S3317 [2MY] S. 2416 — A bill to amend the Black Lung Benefits Act to ease the benefits process for survivors of miners whose deaths were due to pneumoconiosis; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3755 [16MY] S. 2418 — A bill to amend titles XVIII and XIX of the Social Security Act to increase access to services provided by advanced practice registered nurses under the Medicare and Medicaid programs, and for other purposes; to the Committee on Finance. Cosponsors added, S3000 [23AP] S. 2429 — A bill to amend title XIX of the Social Security Act to increase the ability of Medicare and Medicaid providers to access the National Practitioner Data Bank for the purpose of conducting employee background checks; to the Committee on Finance. Cosponsors added, S444 [7FE] S. 2435 — A bill to amend the Food and Nutrition Act of 2008 to repeal the particular work requirement that disqualifies able-bodied adults for eligibility to participate in the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S4154 [18JN] S. 2458 — A bill to amend the Federal Crop Insurance Act to promote crop insurance support for beginning farmers and ranchers, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S94 [11JA] S. 2459 — A bill to amend title XVIII of the Social Security Act to ensure appropriate supervision requirements for outpatient physical therapy and outpatient occupational therapy, and for other purposes; to the Committee on Finance. Cosponsors added, S422 [6FE] S. 2462 — A bill to amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes; to the Committee on Finance. Cosponsors added, S1044 [28FE], S2598 [22MR] S. 2465 — A bill to require the Secretary of Veterans Affairs to establish a pilot program to furnish doula services to veterans; to the Committee on Veterans’ Affairs. Cosponsors added, S74 [10JA], S186 [18JA], S2366 [12MR], S2720 [11AP] S. 2477 — A bill to amend title XVIII of the Social Security Act to provide pharmacy payment of certain services; to the Committee on Finance. Cosponsors added, S16 [8JA], S1045 [28FE], S2645 [8AP], S2741 [15AP], S3781 [20MY], S3955 [4JN] S. 2483 — A bill to amend the Public Health Service Act to provide additional transparency and consumer protections relating to medical debt collection practices; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3079 [30AP] S. 2488 — A bill to provide for increases in the Federal minimum wage, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2874 [18AP] S. 2492 — A bill to amend title II of the Social Security Act to improve coordination between the Do Not Pay working system and Federal and State agencies authorized to use the system; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S3686 [14MY] S. 2496 — A bill to amend the National Housing Act to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to prospective FHA borrowers; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S74 [10JA], S2646 [8AP], S3885 [23MY], S3931 [3JN] S. 2498 — A bill to prohibit unfair and deceptive advertising of prices for hotel rooms and other places of short-term lodging, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S288 [30JA], S3992 [5JN], S4085 [13JN] S. 2501 — A bill to direct the Secretary of Labor to promulgate an occupational safety and health standard to protect workers from heat-related injuries and illnesses; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S16 [8JA], S2707 [10AP] S. 2504 — A bill to require the Secretary of Agriculture to streamline applications from farmers to be vendors under certain nutrition programs, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S955 [12FE] S. 2515 — A bill to amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes; to the Committee on Finance. Cosponsors added, S186 [18JA], S2402 [14MR], S2470 [20MR], S2646 [8AP], S2720 [11AP] S. 2530 — A bill to address behavioral health and well-being among education professionals and other school staff; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2667 [9AP] S. 2539 — A bill to clarify that, in awarding funding under title X of the Public Health Service Act, the Secretary of Health and Human Services may not discriminate against eligible States, individuals, or other entities for refusing to counsel or refer for abortions; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3712 [15MY], S3755 [16MY], S3815 [21MY], S3855 [22MY], S3885 [23MY], S3955 [4JN], S4055 [12JN] S. 2548 — A bill to amend title 49, United States Code, to establish an Aviation Security Checkpoint Technology Fund in the Department of Homeland Security to fund investments in aviation security checkpoint technology, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2213 [5MR] S. 2555 — A bill to amend the Animal Welfare Act to expand and improve the enforcement capabilities of the Attorney General, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S17 [8JA], S2347 [11MR] S. 2556 — A bill to amend title XIX of the Social Security Act to ensure Medicaid coverage of mental health services and primary care services furnished on the same day; to the Committee on Finance. Cosponsors added, S3931 [3JN] S. 2561 — A bill to provide greater controls and restrictions on revolving door lobbying; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2213 [5MR] S. 2562 — A bill to require ports of entry along the northern border to remain open as many hours per day as they were open prior to the COVID–19 pandemic; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S310 [31JA] S. 2563 — A bill to amend the Food and Nutrition Act of 2008 to allow for dual enrollment in the supplemental nutrition assistance program and the food distribution program on Indian reservations; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S496 [8FE] S. 2569 — A bill to amend the Controlled Substances Act to clarify that the possession, sale, purchase, importation, exportation, or transportation of drug testing equipment that tests for the presence of fentanyl or xylazine is not unlawful; to the Committee on the Judiciary. Cosponsors added, S17 [8JA] S. 2581 — A bill to extend the Secure Rural Schools and Community Self-Determination Act of 2000; to the Committee on Energy and Natural Resources. Cosponsors added, S1045 [28FE], S2213 [5MR], S3931 [3JN], S3992 [5JN] Reported with amendment (S. Rept. 118–163), S2645 [8AP] S. 2591 — A bill to amend the Department of Agriculture Reorganization Act of 1994 to improve the Office of Urban Agriculture and Innovative Production, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S48 [9JA] S. 2598 — A bill to amend the Federal Crop Insurance Act to modify whole farm revenue protection, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S955 [12FE] S. 2608 — A bill to provide for the long-term improvement of public school facilities, and for other purposes; to the Committee on Finance. Cosponsors added, S17 [8JA] S. 2614 — A bill to amend the Food Security Act of 1985 to expand the provision of farmer-led technical assistance, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S422 [6FE], S2667 [9AP] S. 2615 — A bill to amend the Alaska Native Claims Settlement Act to provide that Village Corporations shall not be required to convey land in trust to the State of Alaska for the establishment of Municipal Corporations, and for other purposes; to the Committee on Energy and Natural Resources. Reported (S. Rept. 118–177), S3753 [16MY] S. 2619 — A bill to amend the National Agricultural Research, Extension, and Teaching Policy Act of 1977 to eliminate the prohibition on indirect costs with respect to aquaculture assistance, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2331 [8MR] S. 2623 — A bill to require the Secretary of the Treasury to harmonize the effective dates of all rules that the Secretary is required to issue under the Corporate Transparency Act, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S186 [18JA] S. 2626 — A bill to impose sanctions with respect to the Supreme Leader of Iran and the President of Iran and their respective offices for human rights abuses and support for terrorism; to the Committee on Foreign Relations. Cosponsors added, S223 [23JA], S955 [12FE], S2440 [19MR], S2720 [11AP], S2741 [15AP], S2874 [18AP], S2933 [19AP] Reported with amendment (no written report), S3503 [7MY] S. 2643 — A bill to amend the Federal Crop Insurance Act to modify eligibility for prevented planting insurance under certain drought conditions, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S599 [9FE] S. 2647 — A bill to improve research and data collection on stillbirths, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3755 [16MY], S3955 [4JN], S4020 [11JN] S. 2662 — A bill to require the Secretary of Agriculture to carry out certain activities relating to research for wood products, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2440 [19MR] S. 2665 — A bill to require the Secretary of Defense to provide to firefighters of the Department of Defense medical testing and related services to detect and prevent certain cancers; to the Committee on Armed Services. Cosponsors added, S2440 [19MR] S. 2671 — A bill to prohibit the Administrator of the Federal Motor Carrier Safety Administration from issuing a rule or promulgating a regulation requiring certain vehicles to be equipped with speed limiting devices, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2280 [7MR], S2667 [9AP] S. 2675 — A bill to clarify minimum altitudes for go-arounds, inspection passes, practice approaches, and qualified instrument approaches, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S986 [26FE] S. 2678 — A bill to provide for an investment screening mechanism relating to covered sectors; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S2213 [5MR] S. 2682 — A bill to amend the Agricultural Act of 2014 with respect to the tree assistance program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2874 [18AP] S. 2687 — A bill to provide additional requirements for the purchase and sale of conventional mortgages by the enterprises, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S3885 [23MY] S. 2688 — A bill to amend the Public Health Service Act to extend health information technology assistance eligibility to behavioral health, mental health, and substance abuse professionals and facilities, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3136 [1MY] S. 2692 — A bill to amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Portal for Appraiser Credentialing and AMC Registration Information, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S2366 [12MR], S2402 [14MR] S. 2695 — A bill to amend the Indian Law Enforcement Reform Act to provide for advancements in public safety services to Indian communities, and for other purposes; to the Committee on Indian Affairs. Cosponsors added, S343 [1FE], S4116 [17JN] S. 2700 — A bill to amend the Investment Advisers Act of 1940 to require investment advisers for passively managed funds to arrange for pass-through voting of proxies for certain securities, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S422 [6FE] S. 2702 — A bill to amend the Department of Agriculture Reorganization Act of 1994 to reauthorize the position of Farmworker Coordinator; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S310 [31JA] S. 2703 — A bill to amend the Department of Agriculture Reorganization Act of 1994 to establish the Office of the Farm and Food System Workforce; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S310 [31JA], S3136 [1MY], S4020 [11JN] S. 2713 — A bill to amend the Food and Nutrition Act of 2008 and the Emergency Food Assistance Act of 1983 to make commodities available for the Emergency Food Assistance Program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S288 [30JA], S2598 [22MR] S. 2717 — A bill to designate the facility of the United States Postal Service located at 231 North Franklin Street in Greensburg, Indiana, as the ‘‘Brigadier General John T. Wilder Post Office’’; to the Committee on Homeland Security and Governmental Affairs. Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Text, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 2718 — A bill to amend title 38, United States Code, to improve matters relating to medical examinations for veterans disability compensation, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S2213 [5MR] S. 2722 — A bill to address the needs of workers in industries likely to be impacted by rapidly evolving technologies; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S17 [8JA] S. 2728 — A bill to encourage reduction of disposable plastic products in units of the National Park System, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S4181 [20JN] S. 2747 — A bill to amend the Federal Election Campaign Act of 1971 to extend the Administrative Fine Program for certain reporting violations. Approved [Public Law 118–26] (signed December 19, 2023) S. 2748 — A bill to authorize the extension of nondiscriminatory treatment (normal trade relations treatment) to the products of Kazakhstan, Uzbekistan, and Tajikistan; to the Committee on Finance. Cosponsors added, S1078 [29FE] S. 2757 — A bill to limit the Secretary of Veterans Affairs from modifying the rate of payment or reimbursement for transportation of veterans or other individuals via special modes of transportation under the laws administered by the Secretary, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S203 [22JA], S223 [23JA], S251 [24JA], S270 [25JA], S288 [30JA], S343 [1FE], S361 [5FE], S955 [12FE], S2366 [12MR], S2440 [19MR], S2791 [16AP], S3136 [1MY] S. 2767 — A bill to amend title XVI of the Social Security Act to update the resource limit for supplemental security income eligibility; to the Committee on Finance. Cosponsors added, S2933 [19AP], S3000 [23AP] S. 2768 — A bill to protect hospital personnel from violence, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S2874 [18AP] S. 2769 — A bill to amend the Fair Labor Standards Act of 1938 and the Portal-to-Portal Act of 1947 to prevent wage theft and assist in the recovery of stolen wages, to authorize the Secretary of Labor to administer grants to prevent wage and hour violations, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S17 [8JA], S2214 [5MR], S3712 [15MY] S. 2770 — A bill to prohibit the distribution of materially deceptive AI-generated audio or visual media relating to candidates for Federal office, and for other purposes; to the Committee on Rules and Administration. Removal of cosponsors, S3686 [14MY] Reported with amendment (no written report), S3710 [15MY] S. 2771 — A bill to allow additional individuals to enroll in standalone dental plans offered through Federal Exchanges; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S48 [9JA], S3598 [8MY] S. 2778 — A bill to require the Secretary of Veterans Affairs to submit to Congress a report on competition among suppliers of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S3992 [5JN] S. 2781 — A bill to promote remediation of abandoned hardrock mines, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S147 [17JA], S310 [31JA], S496 [8FE], S2280 [7MR], S2598 [22MR], S3712 [15MY] Reported with amendment (no written report), S268 [25JA] S. 2786 — A bill to amend the Farm Security and Rural Investment Act of 2002 to include the provision of tree nuts under the seniors farmers’ market nutrition program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S1045 [28FE] S. 2787 — A bill to authorize the Federal Communications Commission to process applications for spectrum licenses from applicants who were successful bidders in an auction before the authority of the Commission to conduct auctions expired on March 9, 2023; to the Committee on Commerce, Science, and Transportation. Approved [Public Law 118–27] (signed December 19, 2023) S. 2788 — A bill to amend section 3661 of title 18, United States Code, to prohibit the consideration of acquitted conduct at sentencing; to the Committee on the Judiciary. Removal of cosponsors, S1078 [29FE] S. 2790 — A bill to reform rural housing programs, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S186 [18JA], S4154 [18JN] S. 2791 — A bill to amend title 14, United States Code, to make appropriations for Coast Guard pay in the event an appropriations Act expires before the enactment of a new appropriations Act, and for other purposes; to the Committee on Appropriations. Cosponsors added, S2874 [18AP] S. 2801 — A bill to improve the reproductive assistance provided by the Department of Defense and the Department of Veterans Affairs to certain members of the Armed Forces, veterans, and their spouses or partners, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S1013 [27FE], S1045 [28FE], S1078 [29FE], S2280 [7MR], S2366 [12MR] Objection is heard to request for consideration, S2357 [12MR] S. 2805 — A bill to amend chapter 111 of title 28, United States Code, to increase transparency and oversight of third-party funding by foreign persons, to prohibit third-party funding by foreign states and sovereign wealth funds, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S4055 [12JN] S. 2807 — A bill to require the Secretary of Commerce to establish and carry out a grant program to conserve, restore, and manage kelp forest ecosystems, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S4020 [11JN] S. 2808 — A bill to provide Federal-local community partnership construction funding to local educational agencies eligible to receive payments under the Impact Aid program; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2667 [9AP] S. 2809 — A bill ensure references to opioid overdose reversal agents in certain grant programs of the Department of Health and Human Services are not limited to naloxone; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S4055 [12JN] S. 2813 — A bill to promote and support collaboration between Hispanic-serving institutions and local educational agencies with high enrollments of Hispanic or Latino students, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3136 [1MY] S. 2817 — A bill to amend the Fair Labor Standards Act of 1938 to prohibit employers from paying employees in the garment industry by piece rate, to require manufacturers and contractors in the garment industry to register with the Department of Labor, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S49 [9JA] S. 2821 — A bill to amend title XXVII of the Public Health Service Act to require group health plans and health insurance issuers offering group or individual health insurance coverage to provide coverage for prostate cancer screenings without the imposition of cost-sharing requirements, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2239 [6MR], S2366 [12MR] S. 2825 — A bill to award a Congressional Gold Medal to the United States Army Dustoff crews of the Vietnam War, collectively, in recognition of their extraordinary heroism and life-saving actions in Vietnam; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S17 [8JA], S122 [16JA], S251 [24JA], S444 [7FE], S496 [8FE], S955 [12FE], S986 [26FE], S2214 [5MR], S2331 [8MR], S2402 [14MR], S2440 [19MR], S2470 [20MR], S2646 [8AP], S2791 [16AP], S3504 [7MY] Amendments, S3664, S3666 [9MY] Committee discharged. Passed Senate amendedI90[S09MY4-418]SCHUMER<07>DS3666, S3666 [9MY] Message from the Senate, H3001 [10MY] S. 2827 — A bill to require the Federal Energy Regulatory Commission to establish minimum interregional transfer capabilities, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S4154 [18JN] S. 2829 — A bill to amend the Internal Revenue Code of 1986 to provide for an exclusion for assistance provided to participants in certain veterinary student loan repayment or forgiveness programs; to the Committee on Finance. Cosponsors added, S986 [26FE] S. 2839 — A bill to clarify the maximum hiring target for new air traffic controllers, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S74 [10JA], S148 [17JA], S203 [22JA], S288 [30JA], S422 [6FE], S986 [26FE], S2366 [12MR], S2667 [9AP], S2828 [17AP] S. 2843 — A bill to amend the Help America Vote Act of 2002 to require States to provide for same day voter registration; to the Committee on Rules and Administration. Cosponsors added, S2347 [11MR] S. 2853 — A bill to require the Secretary of Health and Human Services and the Secretary of Labor to conduct a study and issue a report on grant programs to support the nursing workforce; to the Committee on Health, Education, Labor, and Pensions. Committee discharged. Passed Senate, S253 [24JA] Text, S253 [24JA] Message from the Senate (received January 25, 2024), H257 [29JA] Held at the desk, H257 [29JA] S. 2859 — A bill to amend title II of the Social Security Act to provide for the reissuance of social security account numbers to young children in cases where confidentiality has been compromised; to the Committee on Finance. Cosponsors added, S1013 [27FE] S. 2860 — A bill to create protections for financial institutions that provide financial services to State-sanctioned marijuana businesses and service providers for such businesses, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S1045 [28FE] S. 2861 — A bill to award a Congressional Gold Medal to Billie Jean King, an American icon, in recognition of a remarkable life devoted to championing equal rights for all, in sports and in society; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S74 [10JA], S1045 [28FE], S2214 [5MR], S2280 [7MR], S2331 [8MR], S2402 [14MR], S2470 [20MR], S2707 [10AP], S2828 [17AP] Committee discharged. Passed Senate, S3627 [8MY] Text, S3627 [8MY] Message from the Senate (received May 9, 2024), H3001 [10MY] Held at the desk, H3001 [10MY] S. 2862 — A bill to amend the Food for Peace Act to restore the original intent of commodity transfers, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S74 [10JA], S4154 [18JN] S. 2863 — A bill to establish the Commission on Equity and Reconciliation in the Uniformed Services; to the Committee on Veterans’ Affairs. Cosponsors added, S2667 [9AP] S. 2876 — A bill to require the Secretary of Agriculture to cancel existing school meal debt; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S1013 [27FE] S. 2881 — A bill to amend the Higher Education Act of 1965 to require institutions of higher education to provide notice to students participating in a State or federally financed work-study program about potential eligibility for participation in the supplemental nutrition assistance program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3815 [21MY] S. 2888 — A bill to amend title 10, United States Code, to authorize representatives of veterans service organizations to participate in presentations to promote certain benefits available to veterans during preseparation counseling under the Transition Assistance Program of the Department of Defense, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S148 [17JA], S497 [8FE], S1078 [29FE], S2239 [6MR], S2347 [11MR], S2366 [12MR], S2440 [19MR], S2828 [17AP], S3000 [23AP] S. 2890 — A bill to amend the Consolidated Farm and Rural Development Act to modify limitations on amounts of farm ownership loans and operating loans, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2402 [14MR] S. 2891 — A bill to reauthorize the program of grants for innovative programs to address dental workforce needs; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2720 [11AP] S. 2895 — A bill to amend the Internal Revenue Code of 1986 to provide for a refundable adoption tax credit; to the Committee on Finance. Cosponsors added, S3781 [20MY] S. 2897 — A bill to amend the Federal Food, Drug, and Cosmetic Act with respect to molecularly targeted pediatric cancer investigations, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2280 [7MR], S2516 [21MR] S. 2898 — A bill to amend the Food, Conservation, and Energy Act of 2008 to authorize the Secretary of Agriculture to authorize the use of certain grants to deliver peer-to-peer mental health support to individuals who are engaged in farming, ranching, farm work, and other occupations relating to agriculture; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S310 [31JA] S. 2901 — A bill to amend the Higher Education Act of 1965 to require institutions of higher education to disclose hazing incidents, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S203 [22JA], S2668 [9AP], S2875 [18AP] S. 2908 — A bill to assist Tribal governments in the management of buffalo and buffalo habitat and the reestablishment of buffalo on Indian land; to the Committee on Indian Affairs. Cosponsors added, S3000 [23AP] S. 2913 — A bill to amend title 5, United States Code, to deny Federal retirement benefits to individuals convicted of child sex abuse; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S3815 [21MY], S4020 [11JN] S. 2924 — A bill to amend title 31, United States Code, to improve the management of improper payments, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S4020 [11JN] S. 2928 — A bill to amend the Water Infrastructure Finance and Innovation Act of 2014 to establish payment and performance security requirements for projects, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S251 [24JA], S3000 [23AP] S. 2932 — A bill to direct the Secretary of Health and Human Services to provide guidance to State Medicaid agencies, public housing agencies, Continuums of Care, and housing finance agencies on connecting Medicaid beneficiaries with housing-related services and supports under Medicaid and other housing resources, and for other purposes; to the Committee on Finance. Cosponsors added, S2646 [8AP], S3079 [30AP] S. 2936 — A bill to establish as a permanent program the organic market development grant program of the Department of Agriculture; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2875 [18AP] S. 2937 — A bill to increase the rate of duty applicable to certain ferrosilicon produced in the Russian Federation or the Republic of Belarus and to require a domestic production assessment before increasing rates of duty applicable to products of the Russian Federation and the Republic of Belarus under the Suspending Normal Trade Relations with Russia and Belarus Act, and for other purposes; to the Committee on Finance. Cosponsors added, S599 [9FE], S2239 [6MR] S. 2948 — A bill to require the Secretary of Labor to issue guidance and regulations regarding opioid overdose reversal medication and employee training; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3955 [4JN] S. 2958 — An original bill to amend the Coastal Barrier Resources Act to make improvements to that Act, and for other purposes; from the Committee on Environment and Public Works. Passed Senate amended, S2866 [18AP] Amendments, S2899 [18AP] Message from the Senate (received April 19, 2024), H2561 [20AP] Held at the desk, H2561 [20AP] S. 2963 — A bill to amend the Internal Revenue Code of 1986 to provide a credit for investment in Community Development Financial Institutions; to the Committee on Finance. Cosponsors added, S2214 [5MR], S2440 [19MR] S. 2966 — A bill to amend the Public Health Service Act to encourage programs to address college athlete mental health; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S270 [25JA] S. 2967 — A bill to amend the Internal Revenue Code of 1986 to expand the treatment of moving expenses to employees and new appointees in the intelligence community who move pursuant to a change in assignment that requires relocation, and for other purposes; to the Committee on Finance. Cosponsors added, S1013 [27FE] S. 2974 — A bill to require public institutions of higher education to disseminate information on the rights of, and accommodations and resources for, pregnant students, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S148 [17JA] S. 2993 — A bill to amend the Social Security Act and the Public Health Service Act to permanently authorize certified community behavioral health clinics, and for other purposes; to the Committee on Finance. Cosponsors added, S49 [9JA], S4055 [12JN] S. 2994 — A bill to amend the Internal Revenue Code of 1986 to support upgrades at existing hydroelectric dams in order to increase clean energy production, improve the resiliency and reliability of the United States electric grid, enhance the health of the Nation’s rivers and associated wildlife habitats, and for other purposes; to the Committee on Finance. Cosponsors added, S2668 [9AP], S4116 [17JN] S. 3010 — A bill to amend title XVIII of the Social Security Act to provide coverage of medical nutrition therapy services for individuals with eating disorders under the Medicare program; to the Committee on Finance. Cosponsors added, S3136 [1MY] S. 3014 — A bill to establish requirements for the Federal Trade Commission with respect to certain rules related to automotive retailing, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2331 [8MR] S. 3020 — A bill to amend the Internal Revenue Code of 1986 to equalize the charitable mileage rate with the business travel rate; to the Committee on Finance. Cosponsors added, S3655 [9MY] S. 3021 — A bill to amend title XVIII of the Social Security Act to permanently extend certain in-home cardiopulmonary rehabilitation flexibilities established in response to COVID–19, and for other purposes; to the Committee on Finance. Cosponsors added, S986 [26FE] S. 3026 — A bill to amend the Inflation Reduction Act of 2022 to repeal restrictions on offshore wind leasing; to the Committee on Energy and Natural Resources. Cosponsors added, S2668 [9AP] S. 3029 — A bill to amend title 5, United States Code, to increase death gratuities and funeral allowances for Federal employees, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Reported with amendment (S. Rept. 118–174), S3653 [9MY] S. 3045 — A bill to provide for the transfer of administrative jurisdiction over certain Federal land in the State of California, and for other purposes; to the Committee on Energy and Natural Resources. Reported with amendments (S. Rept. 118–178), S3753 [16MY] S. 3046 — A bill to make permanent the authority to collect Shasta-Trinity National Forest marina fees; to the Committee on Energy and Natural Resources. Reported (S. Rept. 118–179), S3753 [16MY] S. 3047 — A bill to award payments to employees of Air America who provided support to the United States from 1950 to 1976, and for other purposes; to the Select Committee on Intelligence. Cosponsors added, S49 [9JA], S1045 [28FE], S2440 [19MR], S2470 [20MR], S2668 [9AP], S3079 [30AP], S3598 [8MY], S3712 [15MY], S3815 [21MY], S3885 [23MY], S3955 [4JN], S4116 [17JN], S4154 [18JN] S. 3060 — A bill to establish a Youth Mental Health Research Initiative in the National Institutes of Health for purposes of encouraging collaborative research to improve youth mental health; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2516 [21MR] S. 3063 — A bill to require the Secretary of Agriculture to establish a grant program to address forestry workforce development needs, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S497 [8FE] S. 3068 — A bill to require each enterprise to include on the Uniform Residential Loan Application a disclaimer to increase awareness of the direct and guaranteed home loan programs of the Department of Veterans Affairs, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S288 [30JA], S422 [6FE], S1045 [28FE], S2598 [22MR] S. 3071 — A bill to amend section 324 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act to incentivize States, Indian Tribes, and Territories to close disaster recovery projects by authorizing the use of excess funds for management costs for other disaster recovery projects; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2875 [18AP] S. 3072 — A bill to modify the program of grants to support high-quality charter schools; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S955 [12FE] S. 3073 — A bill to modify the public transportation emergency relief program, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S422 [6FE] S. 3074 — A bill to prohibit schools that receive certain support from the Federal Communications Commission from allowing access to social media platforms on subsidized services, devices, or networks, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S288 [30JA] S. 3075 — A bill to amend the Adult Education and Family Literacy Act and the Workforce Innovation and Opportunity Act to strengthen adult education; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3931 [3JN] S. 3080 — A bill to amend title 49, United States Code, to authorize state of good repair grants to be used for public transportation resilience improvement, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S148 [17JA] S. 3089 — A bill to amend the Consolidated Appropriations Act, 2023, to expand the replacement of stolen EBT benefits under the supplemental nutrition assistance program; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2402 [14MR] S. 3090 — A bill to amend titles XIX and XXI of the Social Security Act to improve Medicaid and the Children’s Health Insurance Program for low-income mothers; to the Committee on Finance. Cosponsors added, S3136 [1MY] S. 3094 — A bill to prohibit the Administrator of the Environmental Protection Agency from finalizing, implementing, or enforcing a proposed rule with respect to emissions from vehicles, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S186 [18JA], S223 [23JA], S444 [7FE] S. 3098 — A bill to amend title XIX of the Social Security Act to make permanent the Medicaid option to remove the IMD exclusion to provide medical assistance for certain individuals who are patients in an institution for mental diseases; to the Committee on Finance. Cosponsors added, S955 [12FE] S. 3099 — A bill to require the Secretary of Energy to further develop and support the adoption of a voluntary streamlined permitting and inspection process for authorities having jurisdiction over the permitting of qualifying distributed energy systems, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S2280 [7MR] S. 3102 — A bill to establish the American Worker Retirement Plan, improve the financial security of working Americans by facilitating the accumulation of wealth, and for other purposes; to the Committee on Finance. Cosponsors added, S3504 [7MY], S3885 [23MY] S. 3109 — A bill to require the Administrator of the Centers for Medicare & Medicaid Services and the Commissioner of Social Security to review and simplify the processes, procedures, forms, and communications for family caregivers to assist individuals in establishing eligibility for, enrolling in, and maintaining and utilizing coverage and benefits under the Medicare, Medicaid, CHIP, and Social Security programs respectively, and for other purposes; to the Committee on Finance. Cosponsors added, S148 [17JA], S288 [30JA], S497 [8FE], S3000 [23AP] S. 3118 — A bill to provide for an emergency increase in Federal funding to State Medicaid programs for expenditures on home and community-based services; to the Committee on Finance. Cosponsors added, S187 [18JA] S. 3119 — A bill to prohibit the Federal Communications Commission from reclassifying broadband Internet access service as a telecommunications service and from imposing certain regulations on providers of such service; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2791 [16AP] S. 3125 — A bill to reauthorize the Runaway and Homeless Youth Act, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S1078 [29FE], S2366 [12MR], S2440 [19MR], S4154 [18JN] S. 3126 — A bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to furnish or replace a headstone, marker, or medallion for the grave of an eligible Medal of Honor recipient regardless of the recipient’s dates of service in the Armed Forces, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S2214 [5MR], S2470 [20MR], S2668 [9AP] Committee discharged. Passed Senate, S3294 [1MY] Text, S3294 [1MY] Message from the Senate (received May 3, 2024), H2840 [6MY] Held at the desk, H2840 [6MY] S. 3138 — A bill to amend titles XIX and XXI of the Social Security Act to provide for 12-month continuous enrollment of individuals under the Medicaid program and Children’s Health Insurance Program; to the Committee on Finance. Cosponsors added, S3000 [23AP] S. 3141 — A bill to provide for the consideration of a definition of antisemitism set forth by the International Holocaust Remembrance Alliance for the enforcement of Federal antidiscrimination laws concerning education programs or activities, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S310 [31JA], S444 [7FE], S986 [26FE], S3317 [2MY], S3712 [15MY] S. 3142 — A bill to amend the Fair Labor Standards Act of 1938 to expand the prohibition related to child labor, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3598 [8MY] S. 3144 — A bill to protect survivors from brain injury by authorizing the Secretary of Health and Human Services to collect data on the prevalence of brain injuries resulting from domestic and sexual violence; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S288 [30JA] S. 3152 — A bill to amend the Elementary and Secondary Education Act of 1965 to require that annual State report cards reflect the same race groups as the decennial census of population; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2470 [20MR] S. 3154 — A bill to improve the effectiveness of tribal child support enforcement agencies, and for other purposes; to the Committee on Finance. Cosponsors added, S3712 [15MY] S. 3162 — A bill to improve the requirement for the Director of the National Institute of Standards and Technology to establish testbeds to support the development and testing of trustworthy artificial intelligence systems and to improve interagency coordination in development of such testbeds, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S422 [6FE] S. 3165 — A bill to help persons in the United States experiencing homelessness and significant behavioral health issues, including substance use disorder, by authorizing a grant program within the Department of Health and Human Services to assist State and local governments, continuums of care, community-based organizations that administer both health and homelessness services, and providers of services to people experiencing homelessness, better coordinate health care and homelessness services, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S223 [23JA] S. 3168 — A bill making emergency supplemental appropriations for assistance for the situation in Israel for the fiscal year ending September 30, 2024, and for other purposes; read the first time. Objection is heard to request for consideration, S2731 [15AP] S. 3176 — A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on excessively disparate wages paid to chief executive officers; to the Committee on Finance. Cosponsors added, S148 [17JA] S. 3178 — A bill to establish the Children’s Court to improve the adjudication of immigration cases involving unaccompanied alien children; to the Committee on the Judiciary. Cosponsors added, S223 [23JA] S. 3183 — A bill to consider, for purposes of the Immigration and Nationality Act, that officers, officials, representatives, spokespersons, and members of Hamas, Palestine Islamic Jihad, Hezbollah, Al-Qaeda, and ISIS, and individuals who endorse or espouse terrorist activities conducted by such organizations are engaged in terrorist activity; to the Committee on the Judiciary. Cosponsors added, S3955 [4JN] S. 3187 — A bill to require the Department of Homeland Security to publish various publications and reports regarding the number of aliens seeking entry along the southern border of the United States; to the Committee on the Judiciary. Cosponsors added, S17 [8JA] S. 3192 — A bill to designate Ansarallah as a foreign terrorist organization and impose certain sanctions on Ansarallah, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S74 [10JA], S187 [18JA], S251 [24JA], S270 [25JA], S288 [30JA], S310 [31JA], S1013 [27FE] S. 3193 — A bill to amend the Controlled Substances Act to allow for the use of telehealth in substance use disorder treatment, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S251 [24JA], S444 [7FE], S2720 [11AP] S. 3194 — A bill to amend title 5, United States Code, to achieve parity between the cost-of-living adjustment with respect to an annuity under the Federal Employees Retirement System and an annuity under the Civil Service Retirement System, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S148 [17JA], S310 [31JA], S2470 [20MR] S. 3196 — A bill to amend title XIX of the Social Security Act to provide a State option to extend Medicaid coverage for foster care children while receiving treatment from a qualified residential treatment program; to the Committee on Finance. Cosponsors added, S288 [30JA] S. 3197 — A bill to establish and authorize funding for an Iranian Sanctions Enforcement Fund to enforce United States sanctions with respect to Iran and its proxies and pay off the United States public debt and to codify the Export Enforcement Coordination Center; to the Committee on the Judiciary. Cosponsors added, S2366 [12MR], S2440 [19MR], S2741 [15AP], S3756 [16MY], S3781 [20MY], S3931 [3JN] S. 3207 — A bill to establish the Foundation for International Food Security to leverage private sector investments in order to improve agricultural productivity, build food systems to mitigate food shock, help alleviate poverty, reduce malnutrition, and drive economic growth in developing countries, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S2470 [20MR] S. 3211 — A bill to enhance our Nation’s nurse and physician workforce by recapturing unused immigrant visas; to the Committee on the Judiciary. Cosponsors added, S122 [16JA] S. 3220 — A bill to expand the tropical disease product priority review voucher program to encourage prevention and treatment of coccidioidomycosis; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S310 [31JA], S2239 [6MR] S. 3222 — A bill to ensure the security of office space rented by Senators, and for other purposes. Passed House, H229 [18JA] Text, H229 [18JA] Message from the House, S201 [22JA] Examined and signed in the Senate, S248 [24JA] Examined and signed in the House (January 24, 2024), H249 [25JA] Presented to the President (January 24, 2024), S248 [24JA] Approved [Public Law 118–36] (signed January 26, 2024) S. 3226 — A bill to require the Secretary of Labor to establish an offshore wind career training grant program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S422 [6FE] S. 3231 — A bill to enable the people of Puerto Rico to choose a permanent, nonterritorial, fully self-governing political status for Puerto Rico and to provide for a transition to and the implementation of that permanent, nonterritorial, fully self-governing political status, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S251 [24JA], S2646 [8AP], S3318 [2MY], S3686 [14MY] S. 3232 — A bill to amend the Higher Education Act of 1965 to require the standards for accreditation of an institution of higher education to assess the institution’s adoption of admissions practices that refrain from preferential treatment in admissions based on an applicant’s relationship to alumni of, or donors to, the institution, to authorize a feasibility study on data collection, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2366 [12MR], S4181 [20JN] S. 3235 — A bill to require a strategy to counter the role of the People’s Republic of China in evasion of sanctions imposed by the United States with respect to Iran, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S343 [1FE], S422 [6FE], S955 [12FE], S1013 [27FE] Reported with amendment (no written report), S3503 [7MY] S. 3236 — A bill to amend title XVIII of the Social Security Act to provide Medicare coverage of ambulance services that do not include transportation; to the Committee on Finance. Cosponsors added, S1013 [27FE] S. 3237 — A bill to amend the Camp Lejeune Justice Act of 2022 to ensure claimants are adequately informed regarding filing a Federal cause of action; to the Committee on the Judiciary. Objection is heard to request for consideration, S2499 [21MR] Amendments, S3960, S3962 [4JN] Committee discharged. Passed Senate amended, S3962 [4JN] Message from the Senate (received June 6, 2024), H3677 [7JN] Held at the desk, H3677 [7JN] S. 3243 — A bill to amend the Internal Revenue Code of 1986 to exclude all military retirement and related benefits from Federal income tax; to the Committee on Finance. Cosponsors added, S3885 [23MY] S. 3249 — A bill to designate the outpatient clinic of the Department of Veterans Affairs in Wyandotte County, Kansas City, Kansas, as the ‘‘Captain Elwin Shopteese VA Clinic’’; to the Committee on Veterans’ Affairs. Committee discharged. Passed Senate, S3367 [2MY] Text, S3367 [2MY] Message from the Senate (received May 3, 2024), H2840 [6MY] Held at the desk, H2840 [6MY] S. 3250 — A bill to provide remote access to court proceedings for victims of the 1988 Bombing of Pan Am Flight 103 over Lockerbie, Scotland; to the Committee on the Judiciary. Text, H145 [16JA] Rules suspended. Passed House, H225 [18JA] Message from the House, S201 [22JA] Examined and signed in the Senate, S248 [24JA] Examined and signed in the House (January 24, 2024), H249 [25JA] Presented to the President (January 24, 2024), S248 [24JA] Approved [Public Law 118–37] (signed January 26, 2024) S. 3254 — A bill to amend the Internal Revenue Code of 1986 to allow expenses for parents to be taken into account as medical expenses, and for other purposes; to the Committee on Finance. Cosponsors added, S2646 [8AP] S. 3257 — A bill to amend title 38, United States Code, to extend to Black veterans of World War II, and surviving spouses and certain direct descendants of such veterans, eligibility for certain housing loans and educational assistance administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S1013 [27FE] S. 3258 — A bill to amend title XVIII of the Social Security Act to provide coverage of ALS-related services under the Medicare program for individuals diagnosed with amyotrophic lateral sclerosis, and for other purposes; to the Committee on Finance. Cosponsors added, S74 [10JA] S. 3260 — A bill to direct the Secretary of Health and Human Services to establish a working group to formulate recommendations for standardizing the measurements of loneliness and isolation, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3815 [21MY] S. 3264 — A bill to establish a manufactured housing community improvement grant program, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S49 [9JA], S2347 [11MR], S2646 [8AP], S3504 [7MY] S. 3266 — A bill to direct the Secretary of Education to conduct a study regarding the use of mobile devices in elementary and secondary schools, and to establish a pilot program of awarding grants to enable certain schools to create a school environment free of mobile devices; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3712 [15MY] S. 3267 — A bill to designate the facility of the United States Postal Service located at 410 Dakota Avenue South in Huron, South Dakota, as the ‘‘First Lieutenant Thomas Michael Martin Post Office Building’’; to the Committee on Homeland Security and Governmental Affairs. Reported (no written report), S421 [6FE] Passed Senate, S2994 [23AP] Text, S2994 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 3271 — A bill to award a Congressional Gold Medal to the Hmong people, in recognition of their highly distinguished service in the Vietnam war and the fight against communism; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S17 [8JA] S. 3276 — A bill to amend the Immigration and Nationality Act to allow certain alien veterans to be paroled into the United States to receive health care furnished by the Secretary of Veterans Affairs; to the Committee on the Judiciary. Cosponsors added, S148 [17JA], S444 [7FE] S. 3277 — A bill to amend the Marine Debris Act to reauthorize the Marine Debris Program of the National Oceanic and Atmospheric Administration; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S4085 [13JN] S. 3278 — A bill to require the Secretary of Homeland Security to identify each alien who is serving, or has served, in the Armed Forces of the United States on the application of any such alien for an immigration benefit or the placement of any such alien in an immigration enforcement proceeding, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S444 [7FE] S. 3280 — A bill to require the Secretary of Homeland Security to establish a veterans visa program to permit veterans who have been removed from the United States to return as immigrants, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S148 [17JA], S444 [7FE] S. 3283 — A bill to amend the Worker Adjustment and Retraining Notification Act to support workers who are subject to an employment loss, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3855 [22MY] S. 3285 — A bill to rename the community-based outpatient clinic of the Department of Veterans Affairs in Butte, Montana, as the ‘‘Charlie Dowd VA Clinic’’; to the Committee on Veterans’ Affairs. Committee discharged. Passed Senate, S3367 [2MY] Text, S3367 [2MY] Message from the Senate (received May 3, 2024), H2840 [6MY] Held at the desk, H2840 [6MY] S. 3286 — A bill to require the Securities and Exchange Commission to amend the rules of the Commission relating to disclosures by advisors of private funds, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S148 [17JA] S. 3293 — A bill to provide for the creation of a Congressional time capsule in commemoration of the semiquincentennial of the United States, and for other purposes; to the Committee on Rules and Administration. Cosponsors added, S4020 [11JN] S. 3294 — A bill to amend the Richard B. Russell National School Lunch Act with respect to reimbursements under the child and adult care food program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S187 [18JA], S3931 [3JN] S. 3297 — A bill to amend title XVIII of the Social Security Act to expand the availability of medical nutrition therapy services under the Medicare program; to the Committee on Finance. Cosponsors added, S17 [8JA], S203 [22JA], S3781 [20MY] S. 3300 — A bill to require a report on the competitiveness of United States exports of specialty crops; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2741 [15AP] S. 3304 — A bill to ensure that claims for benefits under the Black Lung Benefits Act are processed in a fair and timely manner, to better protect miners from pneumoconiosis (commonly known as ‘‘black lung disease’’), and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S17 [8JA] S. 3305 — A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 with respect to minimum participation standards for pension plans and qualified trusts; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S422 [6FE], S2791 [16AP] S. 3306 — A bill to establish a grant program for institutions of higher education to implement patient-centered academic counseling services for student survivors of sexual assault and other violence; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S1013 [27FE] S. 3308 — A bill to amend title 5, United States Code, to limit the number of local wage areas allowable within a General Schedule pay locality; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2347 [11MR], S3781 [20MY], S4056 [12JN] S. 3312 — A bill to provide a framework for artificial intelligence innovation and accountability, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S251 [24JA] S. 3321 — A bill to require the Federal Communications Commission to ensure equitable and nondiscriminatory contributions to the mechanisms that preserve and advance universal service, to reduce the financial burden on consumers, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2668 [9AP] S. 3323 — A bill to establish the Office of the Ombudsperson for Immigrant Children in Immigration Custody, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S270 [25JA] S. 3324 — A bill to modify the penalties for violations of the Telephone Consumer Protection Act of 1993; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2240 [6MR] S. 3331 — A bill to establish an intermodal transportation infrastructure pilot program, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S1045 [28FE] S. 3335 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to establish a grant program to help law enforcement agencies with civilian law enforcement tasks, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S3712 [15MY], S3992 [5JN] Reported with amendment (no written report), S3990 [5JN] S. 3341 — A bill to improve the emergency management capabilities of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S289 [30JA] S. 3345 — A bill to amend the Internal Revenue Code of 1986 to provide that floor plan financing includes the financing of certain trailers and campers; to the Committee on Finance. Cosponsors added, S2331 [8MR] S. 3348 — A bill to amend the Harmful Algal Blooms and Hypoxia Research and Control Act of 1998 to address harmful algal blooms, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S94 [11JA], S986 [26FE], S1078 [29FE], S2347 [11MR], S2402 [14MR], S2875 [18AP], S3079 [30AP], S3931 [3JN] S. 3352 — A bill to provide for outreach to build awareness among former members of the Armed Forces of the process established pursuant to section 527 of the National Defense Authorization Act for Fiscal Year 2020 for the review of discharge characterizations, and for other purposes; to the Committee on Armed Services. Cosponsors added, S2668 [9AP], S4056 [12JN] S. 3356 — A bill to amend title 18, United States Code, to modify the role and duties of United States Postal Service police officers, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S122 [16JA], S2214 [5MR], S2516 [21MR], S2741 [15AP], S2791 [16AP], S2933 [19AP], S3000 [23AP], S3886 [23MY] S. 3357 — A bill to designate the facility of the United States Postal Service located at 5120 Derry Street in Harrisburg, Pennsylvania, as the ‘‘Hettie Simmons Love Post Office Building’’; to the Committee on Homeland Security and Governmental Affairs. Reported (no written report), S421 [6FE] Passed Senate, S2994 [23AP] Text, S2994 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 3358 — A bill to authorize livestock producers and their employees to take black vultures to prevent death, injury, or destruction to livestock, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S148 [17JA] S. 3361 — A bill to prohibit the use of facial recognition technology in airports, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S223 [23JA] S. 3362 — A bill to amend the Higher Education Act of 1965 to require additional information in disclosures of foreign gifts and contracts from foreign sources, restrict contracts with certain foreign entities and foreign countries of concern, require certain staff and faculty to report foreign gifts and contracts, and require disclosure of certain foreign investments within endowments; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S49 [9JA], S2668 [9AP], S2875 [18AP], S3136 [1MY] S. 3367 — A bill to amend the Internal Revenue Code of 1986 to eliminate tax loopholes that allow billionaires to defer tax indefinitely through planning strategies such as ‘‘buy, borrow, die’’, to modify over 30 tax provisions so that billionaires are required to pay taxes annually, and for other purposes; to the Committee on Finance. Cosponsors added, S270 [25JA], S422 [6FE] S. 3369 — A bill to amend title 18, United States Code, to restrict the possession of certain firearms, and for other purposes; to the Committee on Finance. Cosponsors added, S49 [9JA], S289 [30JA], S1013 [27FE], S1078 [29FE], S2440 [19MR], S2708 [10AP], S4020 [11JN], S4116 [17JN], S4154 [18JN], S4181 [20JN] S. 3373 — A bill to require the Federal Energy Regulatory Commission to extend the time period during which licensees are required to commence construction of certain hydropower projects; to the Committee on Energy and Natural Resources. Cosponsors added, S203 [22JA], S986 [26FE] S. 3374 — A bill to waive General Schedule qualification standards related to work experience for nurses at military medical treatment facilities, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S49 [9JA], S361 [5FE] S. 3376 — A bill to provide for the liquidation or reliquidation of certain entries of steel and aluminum products retroactively approved for exclusion from certain duties during the COVID–19 pandemic; to the Committee on Finance. Cosponsors added, S2741 [15AP] S. 3381 — A bill to amend the Internal Revenue Code of 1986 to allow intangible drilling and development costs to be taken into account when computing adjusted financial statement income; to the Committee on Finance. Cosponsors added, S122 [16JA], S2280 [7MR] S. 3390 — A bill to improve purchasing of food by the Department of Agriculture, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S122 [16JA], S3504 [7MY] S. 3392 — A bill to reauthorize the Education Sciences Reform Act of 2002, the Educational Technical Assistance Act of 2002, and the National Assessment of Educational Progress Authorization Act, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Reported with amendment (no written report), S202 [22JA] S. 3393 — A bill to reauthorize the SUPPORT for Patients and Communities Act, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Reported with amendment (no written report), S342 [1FE] S. 3401 — A bill to amend the Federal Crop Insurance Act to authorize the Federal Crop Insurance Corporation to carry out research and development on a single index insurance policy, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S2280 [7MR], S4020 [11JN] S. 3404 — A bill to require certain protections for student loan borrowers, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S3136 [1MY] S. 3409 — A bill to end the use of solitary confinement and other forms of restrictive housing in all Federal agencies and entities with which Federal agencies contract; to the Committee on the Judiciary. Cosponsors added, S2791 [16AP] S. 3410 — A bill to prohibit the Secretary of Health and Human Services from finalizing a proposed rule regarding minimum staffing for nursing facilities, and to establish an advisory panel on the nursing home workforce; to the Committee on Finance. Cosponsors added, S3136 [1MY], S4020 [11JN] S. 3412 — A bill to redesignate the Richard H. Poff Federal Building located at 210 Franklin Road Southwest in Roanoke, Virginia, as the ‘‘Reuben E. Lawson Federal Building’’, and for other purposes; to the Committee on Environment and Public Works. Reported (no written report), S268 [25JA] Passed Senate, S1015 [27FE] Text, S1015 [27FE] Message from the Senate, H777 [1MR] Held at the desk, H777 [1MR] S. 3419 — A bill to designate the facility of the United States Postal Service located at 1765 Camp Hill Bypass in Camp Hill, Pennsylvania, as the ‘‘John Charles Traub Post Office’’; to the Committee on Homeland Security and Governmental Affairs. Reported (no written report), S421 [6FE] Passed Senate, S2994 [23AP] Text, S2994 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 3422 — A bill to amend the Internal Revenue Code of 1986 to create a carbon border adjustment based on carbon intensity, and for other purposes; to the Committee on Finance. Cosponsors added, S123 [16JA], S2402 [14MR] S. 3423 — A bill to guarantee the right to vote for all citizens regardless of conviction of a criminal offense, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S2240 [6MR] S. 3426 — A bill to reauthorize the YouthBuild program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S2741 [15AP] S. 3427 — A bill to extend the authority to provide employees of the United States Secret Service with overtime pay beyond other statutory limitations, and for other purposes; to the Committee on the Judiciary. Text, H258 [29JA] Rules suspended. Passed House, H266 [29JA] Message from the House, S286 [30JA], S307 [31JA] Examined and signed in the Senate, S307 [31JA] Examined and signed in the House, H362 [31JA] Presented to the President (January 31, 2024), S307 [31JA] Approved [Public Law 118–38] (signed February 6, 2024) S. 3428 — A bill to terminate the membership by the United States in the United Nations, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S310 [31JA], S3815 [21MY] S. 3440 — A bill to prohibit the sale and distribution of expanded polystyrene food service ware, expanded polystyrene loose fill, and expanded polystyrene coolers, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S1013 [27FE] S. 3443 — A bill to prohibit institutions of higher education, elementary schools, and secondary schools from receiving Federal funds if those schools or institutions have covered relationships with covered persons, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S49 [9JA] S. 3444 — A bill to amend the Communications Act of 1934 to improve the accessibility of 9–8-8, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S986 [26FE], S1078 [29FE], S2440 [19MR] S. 3452 — A bill to authorize the Secretary of Veterans Affairs to determine the eligibility or entitlement of a member or former member of the Armed Forces described in subsection (a) to a benefit under a law administered by the Secretary solely based on alternative sources of evidence when the military service records or medical treatment records of the member or former member are incomplete because of damage or loss of records after being in the possession of the Federal Government, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S955 [12FE], S2331 [8MR], S2668 [9AP], S2741 [15AP], S2933 [19AP], S3855 [22MY] S. 3454 — A bill to prohibit the use of Federal funds to purchase at-home tests for SARS–CoV–2 from certain foreign entities; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S94 [11JA] S. 3457 — A bill to promote fairness in the sale of event tickets; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S497 [8FE], S3136 [1MY] S. 3459 — A bill to amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for attorney fees and costs in connection with consumer claim awards; to the Committee on Finance. Cosponsors added, S148 [17JA], S251 [24JA], S361 [5FE], S986 [26FE], S2516 [21MR], S4154 [18JN] S. 3464 — A bill to support endemic fungal disease research, incentivize fungal vaccine development, discover new antifungal therapies and diagnostics, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S310 [31JA] S. 3467 — A bill to require a certain percentage of natural gas and crude oil exports be transported on United States-built and United States-flag vessels, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S4154 [18JN] S. 3469 — A bill to direct the Secretary of Agriculture to establish a grocery, farm, and food worker stabilization grant program; to the Committee on Agriculture, Nutrition, and Forestry. Cosponsors added, S3931 [3JN] S. 3470 — A bill to amend the National Voter Registration Act of 1993 to permit a State to include as part of the mail voter registration form a requirement that applicants provide proof of citizenship, and for other purposes; to the Committee on Rules and Administration. Cosponsors added, S343 [1FE] S. 3481 — A bill to amend title XVIII of the Social Security Act to expand and expedite access to cardiac rehabilitation programs and pulmonary rehabilitation programs under the Medicare program, and for other purposes; to the Committee on Finance. Cosponsors added, S187 [18JA] S. 3482 — A bill to establish a multi-stakeholder advisory committee tasked with providing detailed recommendations to address challenges to transmitting geolocation information with calls to the 988 Suicide and Crisis Lifeline, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S955 [12FE], S1013 [27FE], S2366 [12MR], S2720 [11AP] S. 3484 — A bill to establish the Great Lakes Mass Marking Program, and for other purposes; to the Committee on Environment and Public Works. Cosponsors added, S986 [26FE] S. 3488 — A bill to amend title 51, United States Code, to provide for a NASA public-private talent program, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S74 [10JA], S223 [23JA], S310 [31JA], S1045 [28FE], S2214 [5MR] S. 3490 — A bill to prohibit the Secretary of Veterans Affairs from providing health care to, or engaging in claims processing for health care for, any individual unlawfully present in the United States who is not eligible for health care under the laws administered by the Secretary; to the Committee on Veterans’ Affairs. Cosponsors added, S17 [8JA], S74 [10JA], S148 [17JA], S187 [18JA], S361 [5FE], S2240 [6MR], S2366 [12MR], S2516 [21MR] S. 3493 — A bill to require certification prior to obligation of funds for United Nations Relief and Works Agency, and for other purposes; to the Committee on Foreign Relations. Cosponsors added, S344 [1FE] S. 3494 — A bill to amend the Sarbanes-Oxley Act of 2002 to provide for disclosure regarding foreign jurisdictions that hinder inspections, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S49 [9JA] S. 3496 — A bill to amend the Energy Policy Act of 2005 to address measuring methane emissions, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S148 [17JA] S. 3498 — A bill to amend title XVIII of the Social Security Act to provide for coverage of peer support services under the Medicare program; to the Committee on Finance. Cosponsors added, S2828 [17AP] S. 3502 — A bill to amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S187 [18JA], S310 [31JA], S422 [6FE], S444 [7FE], S1013 [27FE], S2240 [6MR], S2280 [7MR], S2402 [14MR], S2441 [19MR], S2516 [21MR], S2598 [22MR], S2668 [9AP], S3000 [23AP], S3136 [1MY], S3318 [2MY], S3504 [7MY], S3655 [9MY], S3686 [14MY], S3781 [20MY], S3856 [22MY], S3931 [3JN], S4020 [11JN], S4056 [12JN] S. 3515 — A bill to improve communication between the United States Postal Service and local communities relating to the relocation and establishment of Postal Service retail service facilities, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S2402 [14MR] S. 3517 — A bill to amend the Help America Vote Act of 2002 to ensure that voters in elections for Federal office do not wait in long lines in order to vote, and for other purposes; to the Committee on Rules and Administration. Cosponsors added, S49 [9JA] S. 3519 — A bill to direct the Secretary of Health and Human Services to issue guidance on whether hospital emergency departments should implement fentanyl testing as a routine procedure for patients experiencing an overdose, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S17 [8JA], S2646 [8AP], S3931 [3JN] S. 3520 — A bill to amend the Internal Revenue Code of 1986 to provide incentives for education; to the Committee on Finance. Cosponsors added, S148 [17JA], S187 [18JA], S203 [22JA] S. 3526 — A bill to amend title 38, United States Code, to require a lactation space in each medical center of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, S310 [31JA], S2280 [7MR], S2347 [11MR], S4116 [17JN] S. 3528 — A bill to amend the Small Business Act to establish the position of Coordinator for Disabled Small Business Concerns within the Office of Diversity, Inclusion and Civil Rights of the Small Business Administration, and for other purposes; to the Committee on Small Business and Entrepreneurship. Cosponsors added, S986 [26FE], S3955 [4JN] S. 3529 — A bill to provide procedures for appealing certain Bureau of Alcohol, Tobacco, Firearms, and Explosives rulings or determinations, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S17 [8JA] S. 3530 — A bill to retain Federal employees who are spouses of a member of the Armed Forces or the Foreign Service when relocating due to an involuntary transfer, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S3886 [23MY], S3931 [3JN], S3955 [4JN], S4085 [13JN], S4116 [17JN], S4154 [18JN] S. 3531 — A bill to prohibit actions to carry out the Department of Commerce’s pause in the issuance of new export licenses for certain exports under the Commerce Control List; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S17 [8JA], S2741 [15AP], S2791 [16AP], S3079 [30AP] S. 3536 — A bill to amend the Individuals with Disabilities Education Act to require notification with respect to individualized education program teams, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S148 [17JA] S. 3540 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to increase grants to combat domestic violence for States that implement domestic violence prevention training in the cosmetologist and barber licensing process, and for other purposes; to the Committee on the Judiciary. Cosponsors added, S4020 [11JN] S. 3543 — A bill to establish the Historic Greenwood District-Black Wall Street National Monument in the State of Oklahoma, and for other purposes; to the Committee on Energy and Natural Resources. Cosponsors added, S2214 [5MR] S. 3546 — A bill to require a study on the quality of care difference between mental health and addiction therapy care provided by health care providers of the Department of Veterans Affairs compared to non-Department providers, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, S4154 [18JN] S. 3548 — A bill to amend the Public Health Service Act to provide for hospital and insurer price transparency; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S49 [9JA], S344 [1FE], S1013 [27FE], S1078 [29FE], S4056 [12JN] S. 3549 — A bill to amend the Truth in Lending Act to extend the consumer credit protections provided to members of the Armed Forces and their dependents under title 10, United States Code, to all consumers; to the Committee on Banking, Housing, and Urban Affairs. Cosponsors added, S123 [16JA], S270 [25JA] S. 3556 — A bill to direct the Federal Communications Commission to issue reports after activation of the Disaster Information Reporting System and to make improvements to network outage reporting, to categorize public safety telecommunicators as a protective service occupation under the Standard Occupational Classification system, and for other purposes; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S251 [24JA], S2441 [19MR], S2720 [11AP], S2875 [18AP] S. 3558 — A bill to prohibit contracting with certain biotechnology providers, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. Cosponsors added, S251 [24JA], S270 [25JA], S289 [30JA], S310 [31JA], S955 [12FE], S2646 [8AP], S3886 [23MY] S. 3559 — A bill to repeal programs relating to funding for electric vehicle charging infrastructure, and for other purposes; to the Committee on Environment and Public Works. By Ms. ERNST, S16 [8JA] S. 3560 — A bill to amend title 38, United States Code, to authorize pre-enrollment of certain combat service members of the Armed Forces in the system of annual patient enrollment of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. KING (for himself, Mr. Rounds, Mr. Cramer, and Mr. Manchin), S47 [9JA] Cosponsors added, S187 [18JA], S2668 [9AP], S2741 [15AP], S2828 [17AP], S3000 [23AP], S3756 [16MY] S. 3561 — A bill to protect consumers from price gouging of residential rental and sale prices, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. ROSEN, S47 [9JA] Cosponsors added, S2875 [18AP] S. 3562 — A bill to designate the medical center of the Department of Veterans Affairs in Tomah, Wisconsin, as the ‘‘Jason Simcakoski Department of Veterans Affairs Medical Center’’; to the Committee on Veterans’ Affairs. By Ms. BALDWIN (for herself and Mr. Johnson), S47 [9JA] S. 3563 — A bill to require the President to publish a statement of reasons for pardons, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. BLUMENTHAL, S47 [9JA] S. 3564 — A bill to amend title 40, United States Code, to include Indian Tribes among entities that may receive Federal surplus real property for certain purposes, and for other purposes; to the Committee on Environment and Public Works. By Mr. PADILLA (for himself, Mr. Lankford, Mr. Kelly, and Mr. Cramer), S48 [9JA] Cosponsors added, S95 [11JA] Reported (no written report), S3855 [22MY] S. 3565 — A bill to appropriate funds for the Affordable Connectivity Program of the Federal Communications Commission; to the Committee on Appropriations. By Mr. WELCH (for himself, Mr. Vance, Mr. Cramer, and Ms. Rosen), S73 [10JA] Cosponsors added, S2668 [9AP], S3655 [9MY], S4020 [11JN] S. 3566 — A bill to require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. PAUL (for himself, Mr. Barrasso, Mrs. Blackburn, Mr. Braun, Mr. Cruz, Mr. Grassley, Mr. Lee, Mr. Marshall, Mr. Risch, and Mr. Young), S73 [10JA] Cosponsors added, S95 [11JA] S. 3567 — A bill to establish within the Department of Veterans Affairs a Veterans Affairs History Office, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. BROWN (for himself and Mr. Vance), S73 [10JA] S. 3568 — A bill to amend chapter 3081 of title 54, United States Code, to enhance the protection and preservation of America’s battlefields; to the Committee on Energy and Natural Resources. By Mr. KAINE (for himself, Mrs. Hyde-Smith, Mr. Warner, Mr. Cardin, Mr. Cornyn, Mr. Van Hollen, Mr. Wicker, and Mr. Tillis), S73 [10JA] Cosponsors added, S148 [17JA], S2214 [5MR], S3136 [1MY] S. 3569 — A bill to require the Comptroller General of the United States to submit a report on the disclosure process for intellectual property created under a Federal grant, and for other purposes; to the Committee on the Judiciary. By Mr. TILLIS, S73 [10JA] Cosponsors added, S2708 [10AP] S. 3570 — A bill to designate the United States courthouse located at 500 West Pike Street in Clarksburg, West Virginia, as the ‘‘Irene M. Keeley United States Courthouse’’, and for other purposes; to the Committee on Environment and Public Works. By Mrs. CAPITO (for herself and Mr. Manchin), S73 [10JA] Reported (no written report), S268 [25JA] Passed Senate, S1015 [27FE] Text, S1015 [27FE] Message from the Senate, H777 [1MR] Held at the desk, H777 [1MR] S. 3571 — A bill to protect the right of parents to direct the upbringing of their children as a fundamental right; to the Committee on the Judiciary. By Mr. SCOTT of South Carolina (for himself, Mr. Lankford, Mr. Cramer, Mr. Barrasso, Mr. Ricketts, Mr. Kennedy, and Mr. Rubio), S73 [10JA] Cosponsors added, S95 [11JA] S. 3572 — A bill to direct the Secretary of Labor, in consultation with the Chairperson of the National Endowment for the Arts, to award grants for arts and creative workforce programs; to the Committee on Health, Education, Labor, and Pensions. By Mr. LUJÁN (for himself and Mr. Padilla), S73 [10JA] Cosponsors added, S1078 [29FE] S. 3573 — A bill to amend title XVIII of the Social Security Act to increase data transparency for supplemental benefits under Medicare Advantage; to the Committee on Finance. By Mr. WARNER (for himself and Mrs. Blackburn), S73 [10JA] S. 3574 — A bill to amend chapter 3 of title 36, United States Code, to designate the mastodon as the national fossil of the United States; to the Committee on the Judiciary. By Mr. BRAUN (for himself and Mr. Peters), S73 [10JA] Cosponsors added, S187 [18JA], S422 [6FE] S. 3575 — A bill to amend the Public Health Service Act to give a preference, with respect to project grants for preventive health services, for States that allow all trained individuals to carry and administer epinephrine, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BRAUN (for himself and Mr. Peters), S73 [10JA] Cosponsors added, S251 [24JA] S. 3576 — A bill to authorize certain States to take certain actions on certain Federal land to secure an international border of the United States, and for other purposes; to the Committee on Energy and Natural Resources. By Mrs. BLACKBURN (for herself, Mr. Cornyn, Mr. Cruz, Mr. Braun, Mr. Budd, Mr. Cassidy, Mr. Cramer, Mrs. Hyde-Smith, Mr. Ricketts, Mr. Scott of South Carolina, and Mr. Vance), S74 [10JA] Cosponsors added, S95 [11JA], S148 [17JA] S. 3577 — A bill to designate the Federal building located at 300 E. 3rd Street in North Platte, Nebraska, as the ‘‘Virginia Smith Federal Building’’, and for other purposes; to the Committee on Environment and Public Works. By Mr. RICKETTS (for himself and Mrs. Fischer), S93 [11JA] Reported (no written report), S268 [25JA] Passed Senate, S1015 [27FE] Text, S1015 [27FE] Message from the Senate, H777 [1MR] Held at the desk, H777 [1MR] S. 3578 — A bill to amend title XIX of the Social Security Act to prohibit Federal Medicaid funding for the administrative costs of providing health benefits to individuals who are unauthorized immigrants; to the Committee on Finance. By Mr. CASSIDY (for himself, Mrs. Blackburn, Mr. Wicker, Mrs. Hyde-Smith, and Mr. Barrasso), S93 [11JA] Cosponsors added, S444 [7FE], S2668 [9AP] S. 3579 — A bill to authorize the Assistant Secretary for Mental Health and Substance Use to award formula grants to the States to address gambling addiction, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BLUMENTHAL, S93 [11JA] S. 3580 — A bill to require institutions of higher education participating in Federal student aid programs to share information about title VI of the Civil Rights Act of 1964, including a link to the webpage of the Office for Civil Rights where an individual can submit a complaint regarding discrimination in violation of such title, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASSIDY (for himself and Mr. Fetterman), S93 [11JA] Cosponsors added, S187 [18JA], S223 [23JA], S252 [24JA], S2668 [9AP], S3598 [8MY] S. 3581 — A bill to direct the Administrator of the Western Area Power Administration to reduce rates for firm electric service customers due to shortfalls in generation from certain Bureau of Reclamation hydroelectric facilities, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. KELLY (for himself and Ms. Sinema), S93 [11JA] S. 3582 — A bill to require annual reporting on the availability of Federal funds to persons and entities of China and activities conducted in collaboration with China, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. SCOTT of Florida (for himself, Mr. Budd, and Mr. Braun), S93 [11JA] S. 3583 — A bill to address patent thickets; to the Committee on the Judiciary. By Mr. WELCH (for himself, Mr. Braun, and Ms. Klobuchar), S93 [11JA] S. 3584 — A bill to require enforcement against misbranded egg alternatives; to the Committee on Health, Education, Labor, and Pensions. By Mr. FETTERMAN (for himself, Ms. Ernst, Mrs. Gillibrand, and Mr. Braun), S93 [11JA] Cosponsors added, S1078 [29FE] S. 3585 — A bill to amend title 9, United States Code, with respect to arbitration of disputes involving human trafficking; to the Committee on the Judiciary. By Mr. BLUMENTHAL (for himself and Mr. Hawley), S93 [11JA] S. 3586 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to establish a grant program to recruit, retain, certify, and train bilingual law enforcement officers, and for other purposes; to the Committee on the Judiciary. By Mr. OSSOFF, S93 [11JA] S. 3587 — A bill to require the Secretary of Homeland Security to immediately initiate removal proceedings for aliens whose visas are revoked on security or related grounds; to the Committee on the Judiciary. By Mr. RUBIO (for himself, Mr. Vance, and Mr. Lee), S93 [11JA] Cosponsors added, S148 [17JA] S. 3588 — A bill to amend the Help America Vote Act of 2002 to prohibit Federal funds for election administration for States misusing the Fourteenth Amendment for political purposes, and for other purposes; to the Committee on Rules and Administration. By Mr. TILLIS (for himself, Mr. Vance, Mr. Scott of Florida, Mr. Budd, Ms. Lummis, and Mr. Mullin), S93 [11JA] S. 3589 — A bill to amend title 18, United States Code, to prohibit unauthorized private paramilitary activity, and for other purposes; to the Committee on the Judiciary. By Mr. MARKEY, S122 [16JA] Cosponsors added, S252 [24JA] S. 3590 — A bill to prohibit the importation of garlic from the People’s Republic of China; to the Committee on Finance. By Mr. SCOTT of Florida, S122 [16JA] S. 3591 — A bill making appropriations to improve border security, imposing new reporting requirements relating to border security, and enhancing criminal penalties for destroying or evading border controls; to the Committee on Homeland Security and Governmental Affairs. By Mr. CASEY (for himself, Mr. Luján, Ms. Cortez Masto, Ms. Rosen, Ms. Baldwin, Ms. Klobuchar, Mr. Warner, Mr. Kelly, and Mr. Brown), S122 [16JA] Cosponsors added, S252 [24JA] S. 3592 — A bill to amend the Consumer Financial Protection Act of 2010 to clarify the authority of the Bureau of Consumer Financial Protection with respect to persons regulated by a State insurance regulator, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. SCOTT of South Carolina (for himself and Mr. Manchin), S122 [16JA] S. 3593 — A bill to provide for economic development and conservation in Washoe County, Nevada, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. ROSEN, S122 [16JA] Cosponsors added, S2240 [6MR] S. 3594 — A bill to require Governmentwide source code sharing, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. CRUZ (for himself and Mr. Peters), S122 [16JA] Cosponsors added, S986 [26FE] S. 3595 — A bill to award grants to States to establish or improve, and carry out, Seal of Biliteracy programs to recognize high-level student proficiency in speaking, reading, and writing in both English and a second language, and early language programs; to the Committee on Health, Education, Labor, and Pensions. By Mr. SCHATZ (for himself, Mr. Padilla, Ms. Cortez Masto, Mrs. Shaheen, Ms. Warren, Mr. Wyden, and Mr. Heinrich), S146 [17JA] Cosponsors added, S252 [24JA] S. 3596 — A bill to amend the Mineral Leasing Act to amend references of gilsonite to asphaltite; to the Committee on Energy and Natural Resources. By Mr. LEE, S146 [17JA] S. 3597 — A bill to reauthorize programs relating to oral health promotion and disease prevention; to the Committee on Health, Education, Labor, and Pensions. By Mr. DURBIN (for himself and Mr. Marshall), S146 [17JA] Text, S150 [17JA] S. 3598 — A bill to require the Secretary of Veterans Affairs to establish a comprehensive standard for timing between referrals and appointments for care from the Department of Veterans Affairs and to submit a report with respect to that standard, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. SCOTT of Florida (for himself, Mr. Ossoff, and Mr. Cruz), S146 [17JA] Cosponsors added, S252 [24JA], S423 [6FE], S2668 [9AP] S. 3599 — A bill to amend the Federal Election Campaign Act of 1971 to limit the authority of corporations to establish and operate separate segregated funds utilized for political purposes, including the establishment or operation of a political committee, to nonprofit corporations, and for other purposes; to the Committee on Rules and Administration. By Mr. KELLY (for himself and Mr. Ossoff), S146 [17JA] S. 3600 — A bill to enable an employer or employees to establish an employee involvement organization to represent the interests of employees, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. RUBIO (for himself and Mr. Vance), S147 [17JA] S. 3601 — A bill to amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. ROUNDS (for himself and Ms. Sinema), S147 [17JA] S. 3602 — A bill to amend title 18, United States Code, to penalize false communications to cause an emergency response, and for other purposes; to the Committee on the Judiciary. By Mr. SCOTT of Florida (for himself, Mr. Tuberville, and Mr. Rounds), S147 [17JA] S. 3603 — A bill to establish an information-sharing pilot program to combat the illicit use of crypto assets; to the Committee on the Judiciary. By Mr. HAGERTY (for himself and Ms. Lummis), S147 [17JA] S. 3604 — A bill to amend title 1, United States Code, to clarify that certain tax exemptions are not treated as Federal financial assistance; to the Committee on Finance. By Mr. RUBIO (for himself, Mr. Vance, Mr. Braun, Mrs. Blackburn, Mr. Hawley, Mr. Schmitt, Mr. Cruz, Mr. Lankford, and Mr. Lee), S147 [17JA] Cosponsors added, S3955 [4JN] S. 3605 — A bill to require the Secretary of Transportation to develop guidelines and best practices for local evacuation route planning, and for other purposes; to the Committee on Environment and Public Works. By Mr. PADILLA (for himself, Mr. Cassidy, Mr. Schatz, and Ms. Hirono), S147 [17JA] S. 3606 — A bill to reauthorize the Earthquake Hazards Reduction Act of 1977, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. PADILLA (for himself and Ms. Murkowski), S147 [17JA] Cosponsors added, S1045 [28FE], S3136 [1MY], S4020 [11JN] S. 3607 — A bill to amend the Internal Revenue Code of 1986 to provide that amounts paid for an abortion are not taken into account for purposes of the deduction for medical expenses; to the Committee on Finance. By Mr. LEE (for himself, Mr. Braun, Mrs. Blackburn, Mr. Hagerty, Mr. Rubio, Mr. Thune, Mr. Daines, and Mr. Cramer), S147 [17JA] Cosponsors added, S187 [18JA], S203 [22JA] S. 3608 — A bill to amend the Internal Revenue Code of 1986 to prohibit treatment of certain distributions and reimbursements for certain abortions as qualified medical expenses; to the Committee on Finance. By Mr. LEE (for himself, Mr. Braun, Mrs. Blackburn, Mr. Hagerty, Mr. Rubio, and Mr. Cramer), S147 [17JA] Cosponsors added, S187 [18JA], S203 [22JA] S. 3609 — A bill to ensure that women seeking an abortion are informed of the medical risks associated with the abortion procedure and the major developmental characteristics of the unborn child, before giving their informed consent to receive an abortion; to the Committee on Health, Education, Labor, and Pensions. By Mrs. BLACKBURN (for herself, Mr. Braun, Mr. Daines, Mr. Hagerty, Mr. Lankford, and Mr. Rubio), S185 [18JA] Cosponsors added, S203 [22JA], S289 [30JA] S. 3610 — A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for contributions to qualifying pregnancy centers; to the Committee on Finance. By Mrs. HYDE-SMITH (for herself, Mr. Hawley, Mr. Rubio, Mr. Cramer, and Mr. Mullin), S185 [18JA] S. 3611 — A bill to amend part A of title IV of the Social Security Act to clarify the longstanding authority of States to use funds made available under the Temporary Assistance for Needy Families program to fund life-affirming services to empower pregnant women to choose life for their babies instead of abortion, and for other purposes; to the Committee on Finance. By Mrs. HYDE-SMITH (for herself, Mr. Braun, Mrs. Blackburn, Mr. Hawley, Mr. Rubio, Mr. Mullin, Mr. Wicker, and Mr. Cramer), S185 [18JA] S. 3612 — A bill to prohibit the limitation of access to assisted reproductive technology, and all medical care surrounding such technology; to the Committee on Health, Education, Labor, and Pensions. By Ms. DUCKWORTH (for herself, Ms. Baldwin, Mrs. Murray, and Mrs. Gillibrand), S185 [18JA] Cosponsors added, S986 [26FE], S1013 [27FE], S1045 [28FE], S1078 [29FE], S2366 [12MR] S. 3613 — A bill to require Facility Security Committees to respond to security recommendations issued by the Federal Protective Service relating to facility security, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Scott of Florida), S185 [18JA] Reported with amendment (S. Rept. 118–160), S2400 [14MR] Amendments, S2616, S2617 [22MR] Passed Senate amended, S2617 [22MR] Text, S2617 [22MR] Message from the Senate (received March 25, 2024), H2117 [26MR] Held at the desk, H2117 [26MR] S. 3614 — A bill to designate the outpatient clinic of the Department of Veterans Affairs in Vallejo, California, as the ‘‘Delphine Metcalf-Foster VA Clinic’’; to the Committee on Veterans’ Affairs. By Ms. BUTLER, S185 [18JA] S. 3615 — A bill to require the Secretary of Energy to remove carbon dioxide directly from ambient air or seawater, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. COONS (for himself and Mr. Whitehouse), S185 [18JA] S. 3616 — A bill to require additional disclosures relating to donations to the Presidential Inaugural Committee, and for other purposes; to the Committee on the Judiciary. By Ms. CORTEZ MASTO (for herself, Mr. Whitehouse, Mr. Blumenthal, Mr. Van Hollen, Ms. Warren, and Mr. Markey), S185 [18JA] Cosponsors added, S444 [7FE] S. 3617 — A bill to provide equitable treatment for the people of the Village Corporation established for the Native Village of Saxman, Alaska, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. MURKOWSKI (for herself and Mr. Sullivan), S185 [18JA] S. 3618 — A bill to designate Mauritania under section 244 of the Immigration and Nationality Act to permit nationals of Mauritania to be eligible for temporary protected status under such section, and for other purposes; to the Committee on the Judiciary. By Mr. BROWN, S185 [18JA] S. 3619 — A bill to amend chapter 25 of title 14, United States Code, to prohibit the use of Coast Guard funds and facilities to perform abortions and to prohibit the provision of travel and transportation allowances to obtain abortions; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S185 [18JA] Cosponsors added, S203 [22JA], S4154 [18JN] S. 3620 — A bill to amend the Internal Revenue Code of 1986 to impose a corporate tax rate increase on companies whose ratio of compensation of the CEO or other highest paid employee to median worker compensation is more than 50 to 1, and for other purposes; to the Committee on Finance. By Mr. SANDERS (for himself, Ms. Warren, Mr. Van Hollen, and Mr. Markey), S185 [18JA] Cosponsors added, S203 [22JA] S. 3621 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish nonvisual accessibility standards for certain devices with digital interfaces, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. HASSAN (for herself and Mr. Braun), S185 [18JA] S. 3622 — A bill to amend part D of title IV of the Social Security Act to ensure that child support for unborn children is collected and distributed under the child support enforcement program, and for other purposes; to the Committee on Finance. By Mr. CRAMER (for himself, Mrs. Blackburn, Mrs. Britt, Mr. Daines, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Lankford, Mr. Marshall, Mr. Mullin, Mr. Rubio, and Mr. Wicker), S185 [18JA] S. 3623 — A bill to amend the Food, Agriculture, Conservation, and Trade Act of 1990 to include as a high-priority research and extension area research on microplastics in land-applied biosolids on farmland, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. MERKLEY (for himself, Mr. Booker, Mr. Van Hollen, Mr. Whitehouse, and Mr. Wyden), S185 [18JA] S. 3624 — A bill to restrict the availability of Federal funds to organizations associated with the abortion industry; to the Committee on Foreign Relations. By Mr. LEE (for himself, Mr. Marshall, Mrs. Blackburn, Mrs. Hyde-Smith, Mr. Lankford, Mr. Rubio, Mr. Scott of South Carolina, Mr. Budd, Mr. Braun, Mr. Cramer, Mr. Kennedy, Mr. Hagerty, Mr. Johnson, Mr. Young, Mr. Daines, Mr. Thune, Mrs. Fischer, Mr. Cotton, Mr. Ricketts, Mr. Rounds, and Mr. Paul), S185 [18JA] Cosponsors added, S203 [22JA], S252 [24JA] S. 3625 — A bill to amend title 31, United States Code, to provide small businesses with additional time to file beneficial ownership information, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. SCOTT of South Carolina, S185 [18JA] S. 3626 — A bill to clarify task and delivery order solicitation and contract requirements; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Ms. Ernst), S185 [18JA] S. 3627 — A bill to amend the Energy Policy and Conservation Act to require a certain efficiency level for certain distribution transformers, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. BROWN (for himself, Mr. Cruz, Mr. Manchin, Mr. Hagerty, Mr. Fetterman, Mr. Ricketts, Mr. Casey, Mr. Rubio, Ms. Sinema, Mr. Young, Mr. Tester, and Mr. Budd), S186 [18JA] Cosponsors added, S270 [25JA], S1045 [28FE], S2402 [14MR], S2441 [19MR] S. 3628 — A bill to amend title XVIII of the Social Security Act to improve mobility crisis under the Medicare program; to the Committee on Finance. By Ms. CORTEZ MASTO (for herself and Mr. Cornyn), S186 [18JA] S. 3629 — A bill to amend title 18, United States Code, to revise recidivist penalty provisions for child sexual exploitation offenses to uniformly account for prior military convictions, thereby ensuring parity among Federal, State, and military convictions, and for other purposes; to the Committee on the Judiciary. By Mr. RUBIO (for himself, Ms. Klobuchar, Mrs. Gillibrand, and Mrs. Blackburn), S186 [18JA] Cosponsors added, S599 [9FE], S2441 [19MR], S2470 [20MR], S2668 [9AP], S3598 [8MY], S4086 [13JN] S. 3630 — A bill to amend title XI of the Social Security Act to establish a pilot program for testing the use of a predictive risk-scoring algorithm to provide oversight of payments for durable medical equipment and clinical diagnostic laboratory tests under the Medicare program; to the Committee on Finance. By Mr. BRAUN (for himself and Mr. Cassidy), S186 [18JA] S. 3631 — A bill to require reports on critical mineral and rare earth element resources around the world and a strategy for the development of advanced mining, refining, separation, and processing technologies; to the Committee on Energy and Natural Resources. By Mr. CORNYN (for himself, Mr. Warner, Mr. Young, Mr. King, Mr. Lankford, and Mr. Hickenlooper), S186 [18JA] S. 3632 — A bill to prohibit the use of Department of Homeland Security grant funds for politically biased activities; to the Committee on Homeland Security and Governmental Affairs. By Mr. HAWLEY, S202 [22JA] Cosponsors added, S289 [30JA] S. 3633 — A bill to amend the Coastal Zone Management Act of 1972 to allow the District of Columbia to receive Federal funding under such Act, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CARPER, S202 [22JA] S. 3634 — A bill to designate the facility of the United States Postal Service located at 3901 MacArthur Boulevard in New Orleans, Louisiana, as the ‘‘Dr. Rudy Lombard Post Office Building’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. CASSIDY (for himself and Mr. Kennedy), S202 [22JA] S. 3635 — A bill to improve the President’s Cup Cybersecurity Competitions; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Braun), S202 [22JA] S. 3636 — A bill to require the Director of the Office of Personnel Management to establish a pilot program to identify and refer veterans for potential employment with Federal land management agencies, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. BRAUN (for himself and Ms. Sinema), S222 [23JA] Cosponsors added, S423 [6FE], S1045 [28FE], S3686 [14MY] S. 3637 — A bill to amend the Farm Security and Rural Investment Act of 2002 with respect to the definition of biofuels and sustainable aviation fuel, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. MORAN (for himself, Ms. Klobuchar, Ms. Ernst, Mr. Grassley, and Ms. Duckworth), S222 [23JA] Cosponsors added, S310 [31JA] S. 3638 — A bill to allow health plan policyholders to obtain information about controlled substances prescribed to adult children enrolled in such plan; to the Committee on Health, Education, Labor, and Pensions. By Mr. VANCE, S222 [23JA] S. 3639 — A bill to designate the facility of the United States Postal Service located at 2075 West Stadium Boulevard in Ann Arbor, Michigan, as the ‘‘Robert Hayden Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Ms. Stabenow), S222 [23JA] Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Text, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 3640 — A bill to designate the facility of the United States Postal Service located at 155 South Main Street in Mount Clemens, Michigan, as the ‘‘Lieutenant Colonel Alexander Jefferson Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Ms. Stabenow), S222 [23JA] Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Text, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 3641 — A bill to require the Secretary of Defense to establish a pilot program for evidence-based perinatal mental health prevention for pregnant and postpartum members of the Armed Forces and dependents, and for other purposes; to the Committee on Armed Services. By Mrs. SHAHEEN (for herself and Mrs. Fischer), S222 [23JA] Cosponsors added, S2668 [9AP], S4116 [17JN] S. 3642 — A bill to direct the Secretary of Energy and the Administrator of the National Oceanic and Atmospheric Administration to conduct collaborative research to advance weather models in the United States, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LUJÁN (for himself and Mrs. Blackburn), S222 [23JA] S. 3643 — A bill to improve the prohibitions on money laundering, and for other purposes; to the Committee on the Judiciary. By Mr. GRASSLEY (for himself, Ms. Klobuchar, and Mr. Cornyn), S222 [23JA] S. 3644 — A bill to reauthorize the HOME Investment Partnerships Program, and for other purposes; to the Committee on Finance. By Ms. CORTEZ MASTO (for herself, Ms. Smith, Mr. Fetterman, and Ms. Rosen), S222 [23JA] S. 3645 — A bill to amend the Richard B. Russell National School Lunch Act to fund the information clearinghouse through fiscal year 2031, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mrs. GILLIBRAND, S222 [23JA] S. 3646 — A bill to amend the Housing Act of 1949 to extend the term of rural housing site loans and clarify the permissible uses of such loans. By Mr. MORAN (for himself, Ms. Klobuchar, and Mrs. Shaheen), S222 [23JA] Passed Senate, S225 [23JA] Text, S225 [23JA] Message from the Senate (received January 25, 2024), H257 [29JA] Held at the desk, H257 [29JA] S. 3647 — A bill to amend the Justice for United States Victims of State Sponsored Terrorism Act to use funds in the lump sum catch-up payment reserve fund to make payments to Iran hostages and their families; to the Committee on the Judiciary. By Mr. WARNOCK (for himself and Mr. Vance), S250 [24JA] S. 3648 — A bill to amend the Post-Katrina Management Reform Act of 2006 to repeal certain obsolete requirements, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Kennedy), S250 [24JA] Reported with amendment (S. Rept. 118–161), S2400 [14MR] Passed Senate amended, S2478 [20MR] Amendments, S2478 [20MR] Message from the Senate, H1307 [21MR] Held at the desk, H1307 [21MR] S. 3649 — A bill to require the Secretary of Housing and Urban Development to provide a disclosure notice to homebuyers of properties owned by the Department of Housing and Urban Development that are located in special flood hazard areas, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. RUBIO, S250 [24JA] S. 3650 — A bill to amend the Biggert-Waters Flood Insurance Reform Act of 2012 to improve mapping under the National Flood Insurance Program, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. RUBIO, S250 [24JA] S. 3651 — A bill to amend title XVIII of the Social Security Act to ensure coverage of mental health services furnished through telehealth; to the Committee on Finance. By Mr. CASSIDY (for himself, Ms. Smith, Mr. Thune, and Mr. Cardin), S250 [24JA] Cosponsors added, S444 [7FE], S4181 [20JN] S. 3652 — A bill to require owners of covered federally assisted rental dwelling units to install temperature sensors in such units, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mrs. GILLIBRAND, S250 [24JA] S. 3653 — A bill to apply user fees with respect to tobacco products deemed subject to the requirements of chapter IX of the Federal Food, Drug, and Cosmetic Act; to the Committee on Health, Education, Labor, and Pensions. By Mrs. SHAHEEN (for herself, Ms. Murkowski, Mr. Durbin, Mr. Romney, Ms. Baldwin, and Ms. Collins), S250 [24JA] S. 3654 — A bill to amend the Presidential Transition Act of 1963 to require the timely appointment of agency transition officials, to ensure adequate performance and oversight of required transition-related preparation, to require new guidance for agencies and possible transition teams, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Ms. Collins), S250 [24JA] S. 3655 — A bill to prohibit a drawdown and sale of petroleum products from the Strategic Petroleum Reserve if the President has withdrawn certain land from oil and gas leasing, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. BUDD (for himself, Mr. Sullivan, Mr. Ricketts, Mr. Schmitt, and Mr. Braun), S250 [24JA] S. 3656 — A bill to direct the President to designate a month as African Diaspora Heritage Month; to the Committee on the Judiciary. By Mr. KAINE (for himself, Mr. Cornyn, and Mr. Booker), S250 [24JA] S. 3657 — A bill to amend the Internal Revenue Code of 1986 to enhance the Child and Dependent Care Tax Credit and make the credit fully refundable for certain taxpayers; to the Committee on Finance. By Mr. CASEY (for himself, Mr. Wyden, Mrs. Murray, Ms. Baldwin, Mr. Bennet, Mr. Blumenthal, Mr. Booker, Mr. Brown, Mr. Cardin, Ms. Cantwell, Ms. Cortez Masto, Ms. Duckworth, Mr. Durbin, Mrs. Gillibrand, Mr. Heinrich, Ms. Hirono, Mr. King, Ms. Klobuchar, Mr. Menendez, Mr. Merkley, Mr. Murphy, Mr. Padilla, Mr. Reed, Mr. Schatz, Mrs. Shaheen, Ms. Smith, Ms. Stabenow, Mr. Van Hollen, Mr. Warnock, Mr. Welch, and Mr. Whitehouse), S250 [24JA] Cosponsors added, S344 [1FE], S444 [7FE] S. 3658 — A bill to promote space situational awareness and space traffic coordination and to modify the functions and leadership of the Office of Space Commerce, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CORNYN (for himself, Mr. Peters, Ms. Sinema, Mrs. Blackburn, Mr. Schmitt, Mr. Kelly, and Mr. Wicker), S268 [25JA] S. 3659 — A bill to require a citizenship question on the decennial census, to require reporting on certain census statistics, and to modify apportionment of Representatives to be based on United States citizens instead of all persons; to the Committee on Homeland Security and Governmental Affairs. By Mr. HAGERTY (for himself, Mr. Cramer, Mr. Cassidy, Mr. Lankford, Mr. Schmitt, Mrs. Blackburn, Mr. Lee, Mr. Tuberville, Mr. Rounds, Mr. Ricketts, Mr. Budd, Ms. Lummis, Mr. Risch, Mr. Crapo, Mrs. Britt, Mr. Marshall, Mr. Braun, Mr. Thune, Mr. Daines, Mrs. Hyde-Smith, and Mr. Vance), S268 [25JA] Cosponsors added, S344 [1FE], S444 [7FE], S2214 [5MR] S. 3660 — A bill to require electronically prepared tax returns to include scannable code when submitted on paper, and to require the use of optical character recognition technology for paper documents received by the Internal Revenue Service; to the Committee on Finance. By Mr. CARPER (for himself and Mr. Young), S269 [25JA] S. 3661 — A bill to direct the Secretary of Agriculture to periodically assess cybersecurity threats to, and vulnerabilities in, the agriculture and food critical infrastructure sector and to provide recommendations to enhance their security and resilience, to require the Secretary of Agriculture to conduct an annual cross-sector simulation exercise relating to a food-related emergency or disruption, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. COTTON (for himself, Mrs. Gillibrand, Mr. Ricketts, Mrs. Britt, Mr. Barrasso, Ms. Lummis, Mr. Rounds, and Mr. Moran), S269 [25JA] S. 3662 — A bill to repeal the Jones Act restrictions on coastwise trade, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S269 [25JA] S. 3663 — A bill to provide funding for programs and activities under the SUPPORT for Patients and Communities Act; to the Committee on Health, Education, Labor, and Pensions. By Mrs. SHAHEEN (for herself and Ms. Hassan), S269 [25JA] S. 3664 — A bill to require executive branch employees to report certain royalties, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PAUL, S269 [25JA] S. 3665 — A bill to establish a process for waiver of coastwise endorsement requirements; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S269 [25JA] S. 3666 — A bill to amend the Agricultural Foreign Investment Disclosure Act of 1978 to establish an additional reporting requirement, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BRAUN (for himself, Mr. Tester, Ms. Ernst, Mr. Brown, Mr. Marshall, Mr. Fetterman, Mr. Rubio, Ms. Baldwin, Mr. Hagerty, Mr. Schmitt, Mr. Young, Mrs. Britt, Mr. Wicker, and Mr. Tuberville), S269 [25JA] Cosponsors added, S289 [30JA], S310 [31JA], S344 [1FE], S423 [6FE], S955 [12FE], S986 [26FE], S2402 [14MR], S2516 [21MR] S. 3667 — A bill to amend the Consumer Product Safety Act to strike provisions relating to the maximum civil penalties for violations of product safety standards; to the Committee on Commerce, Science, and Transportation. By Mr. WELCH (for himself, Mr. Blumenthal, Mr. Markey, Mr. Schatz, and Mr. Luján), S269 [25JA] S. 3668 — A bill to authorize certain States to erect temporary protective fencing within 25 miles of the southwest border to deter illegal immigration; to the Committee on the Judiciary. By Mr. VANCE, S269 [25JA] S. 3669 — A bill to amend title 23, United States Code, to require transportation planners to consider projects and strategies to reduce greenhouse gas emissions, and for other purposes; to the Committee on Environment and Public Works. By Mr. MARKEY (for himself and Mr. Merkley), S269 [25JA] S. 3670 — A bill to require States to establish complete streets programs, and for other purposes; to the Committee on Environment and Public Works. By Mr. MARKEY (for himself, Mr. Blumenthal, Mr. Warnock, and Mr. Heinrich), S269 [25JA] Cosponsors added, S2366 [12MR] S. 3671 — A bill to provide that an individual who uses marijuana in compliance with State law may not be denied occupancy of federally assisted housing, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BOOKER, S269 [25JA] S. 3672 — A bill to support healthy fisheries in dynamic ocean conditions, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. BLUMENTHAL (for himself, Mr. Murphy, and Ms. Warren), S269 [25JA] S. 3673 — A bill to amend the Internal Revenue Code of 1986 to impose a tax on the purchase of single-family homes by certain large investors, and for other purposes; to the Committee on Finance. By Mr. REED (for himself, Ms. Smith, Mrs. Gillibrand, Mr. Blumenthal, Ms. Klobuchar, Mr. Fetterman, and Ms. Baldwin), S269 [25JA] S. 3674 — A bill to amend the Richard B. Russell National School Lunch Act and the Child Nutrition Act of 1966 to prohibit the use of cell-cultivated meat under the school lunch program and the school breakfast program; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. ROUNDS (for himself and Mr. Tester), S269 [25JA] S. 3675 — A bill to amend the Higher Education Act of 1965 to create an innovation zone initiative, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. YOUNG (for himself, Ms. Hassan, Mr. Braun, and Mr. Kaine), S269 [25JA] S. 3676 — A bill to except quotations of fixed-income securities from certain regulatory requirements, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. HAGERTY, S269 [25JA] S. 3677 — A bill to permanently authorize the Undetectable Firearms Act of 1988; to the Committee on the Judiciary. By Mr. REED (for himself and Mr. Grassley), S269 [25JA] S. 3678 — A bill to amend the Internal Revenue Code of 1986 to extend the time during which a qualified disaster may have occurred for purposes of the special rules for personal casualty losses; to the Committee on Finance. By Mr. CASSIDY (for himself and Ms. Butler), S269 [25JA] S. 3679 — A bill to reauthorize the Dr. Lorna Breen Health Care Provider Protection Act, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE (for himself and Mr. Young), S287 [30JA] Cosponsors added, S1045 [28FE], S2402 [14MR], S3756 [16MY], S3856 [22MY], S4020 [11JN] Reported with amendment (no written report), S4152 [18JN] S. 3680 — A bill to amend the Internal Revenue Code of 1986 to enhance the paid family and medical leave credit, and for other purposes; to the Committee on Finance. By Mrs. FISCHER (for herself and Mr. King), S287 [30JA] S. 3681 — A bill to direct the Secretary of Education to carry out a grant program to support the recruitment and retention of paraprofessionals in public elementary schools, secondary schools, and preschool programs, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARKEY (for himself, Mr. Wyden, Ms. Warren, Mr. Blumenthal, and Mr. Brown), S287 [30JA] Cosponsors added, S361 [5FE], S2708 [10AP] S. 3682 — A bill to amend the Employee Retirement Income Security Act of 1974 to clarify the obligation of the Pension Benefit Guarantee Corporation to reclaim any overpayment of special financial assistance payment under the American Rescue Plan Act of 2021, including amounts paid on behalf of a deceased participant or beneficiary, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASSIDY, S287 [30JA] Cosponsors added, S497 [8FE] S. 3683 — A bill to ensure that a declaration for a major disaster or emergency is made on a timely basis, rural areas receive assistance, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. CANTWELL (for herself and Mr. Risch), S287 [30JA] S. 3684 — A bill to authorize a grant program for the development and implementation of housing supply and affordability plans, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. KLOBUCHAR (for herself and Mr. Kaine), S287 [30JA] S. 3685 — A bill to amend the Family and Medical Leave Act of 1993 to permit leave for bone marrow or blood stem cell donation, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself and Mr. Cassidy), S287 [30JA] S. 3686 — A bill to prevent anticompetitive conduct through the use of pricing algorithms by prohibiting the use of pricing algorithms that can facilitate collusion through the use of nonpublic competitor data, creating an antitrust law enforcement audit tool, increasing transparency, and enforcing violations through the Sherman Act and Federal Trade Commission Act, and for other purposes; to the Committee on the Judiciary. By Ms. KLOBUCHAR (for herself, Mr. Wyden, Mr. Durbin, Mr. Blumenthal, Ms. Hirono, and Mr. Welch), S287 [30JA] S. 3687 — A bill to direct the Office for Victims of Crime of the Department of Justice to implement anti-trafficking recommendations of the Government Accountability Office; to the Committee on the Judiciary. By Mr. OSSOFF (for himself and Mr. Grassley), S287 [30JA] Committee discharged. Passed Senate, S2928 [19AP] Text, S2928 [19AP] Message from the Senate (received April 23, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 3688 — A bill to increase the rates of pay under the statutory pay systems and for prevailing rate employees by 7.4 percent, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. SCHATZ (for himself, Mr. Whitehouse, Ms. Warren, Mr. Kaine, Mr. Heinrich, Mr. Blumenthal, Mr. Padilla, Mr. Markey, Mr. Warner, Mr. Brown, Mr. Merkley, Mr. Sanders, Mr. Van Hollen, Mr. Fetterman, Mr. Cardin, and Ms. Hirono), S287 [30JA] Cosponsors added, S344 [1FE] S. 3689 — A bill to establish the Office to Enforce and Protect Against Child Sexual Exploitation; to the Committee on Homeland Security and Governmental Affairs. By Mr. WYDEN (for himself, Mr. Welch, Mr. Padilla, Ms. Butler, and Mrs. Gillibrand), S287 [30JA] Cosponsors added, S310 [31JA] S. 3690 — A bill to amend the Communications Act of 1934 to prohibit the application of certain private land use restrictions to amateur station antennas, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. WICKER (for himself and Mr. Blumenthal), S287 [30JA] S. 3691 — A bill to amend title XVIII of the Social Security Act to provide for the application of a cost-of-living adjustment to the non-labor related portion for hospital outpatient department services furnished in Alaska and Hawaii; to the Committee on Finance. By Mr. SULLIVAN (for himself, Mr. Schatz, Ms. Murkowski, and Ms. Hirono), S287 [30JA] S. 3692 — A bill to prohibit the use of algorithmic systems to artificially inflate the price or reduce the supply of leased or rented residential dwelling units in the United States; to the Committee on the Judiciary. By Mr. WYDEN (for himself, Mr. Welch, Ms. Klobuchar, Mr. Sanders, Mr. Blumenthal, Ms. Hirono, Ms. Butler, and Mr. Merkley), S287 [30JA] Cosponsors added, S1013 [27FE], S2470 [20MR] S. 3693 — A bill to amend the Federal Meat Inspection Act and the Poultry Products Inspection Act to ensure that consumers can make informed decisions in choosing between meat and poultry products and imitation meat and imitation poultry products, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. MARSHALL, S287 [30JA] Cosponsors added, S1013 [27FE] S. 3694 — A bill to amend the Marine Mammal Protection Act of 1972 and the Animal Welfare Act to prohibit the taking, importation, exportation, and breeding of certain cetaceans for public display, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. WYDEN (for himself, Mr. Padilla, Ms. Warren, Mr. Booker, and Ms. Duckworth), S287 [30JA] Cosponsors added, S497 [8FE], S1045 [28FE] S. 3695 — A bill to amend the Higher Education Act of 1965 to change certain eligibility provisions for loan forgiveness for teachers, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. STABENOW, S287 [30JA] S. 3696 — A bill to improve rights to relief for individuals affected by non-consensual activities involving intimate digital forgeries, and for other purposes; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Mr. Graham, Mr. Hawley, and Ms. Klobuchar), S287 [30JA] Text, S289 [30JA] Cosponsors added, S3136 [1MY], S4056 [12JN] Objection is heard to request for consideration, S4039 [12JN] S. 3697 — A bill to establish the Space National Guard; to the Committee on Armed Services. By Mr. RUBIO (for himself, Ms. Butler, Mr. Hickenlooper, Mr. Risch, Mrs. Blackburn, Mr. Crapo, Mr. Scott of Florida, Mr. Bennet, Ms. Sinema, Mr. Padilla, Mr. Vance, Mr. Hagerty, Mr. Braun, and Ms. Murkowski), S308 [31JA] Cosponsors added, S2366 [12MR], S2441 [19MR], S2708 [10AP] S. 3698 — A bill to amend title 11, District of Columbia Official Code, to revise references in such title to individuals with intellectual disabilities; to the Committee on Homeland Security and Governmental Affairs. By Mr. MORAN (for himself and Mr. Casey), S308 [31JA] S. 3699 — A bill to amend the Internal Revenue Code of 1986 to include expenses for certain nonathletic supplies in the above-the-line deduction for eligible educators, and to allow such deduction to interscholastic sports administrators and coaches; to the Committee on Finance. By Mr. SCOTT of South Carolina (for himself and Ms. Hassan), S308 [31JA] S. 3700 — A bill to permit nurse practitioners and physician assistants to furnish necessary services, appliances, and supplies to individuals receiving medical benefits for illnesses; to the Committee on Health, Education, Labor, and Pensions. By Mr. HICKENLOOPER (for himself, Mrs. Blackburn, and Mrs. Murray), S308 [31JA] S. 3701 — A bill to establish education partnership programs between public schools and public health agencies to prevent the misuse and overdose of synthetic opioids by youth, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. HASSAN (for herself and Mr. Cornyn), S308 [31JA] S. 3702 — A bill to amend the Internal Revenue Code of 1986 to provide a nonrefundable credit for working family caregivers; to the Committee on Finance. By Mr. BENNET (for himself, Mrs. Capito, Ms. Warren, Ms. Collins, Ms. Hassan, and Ms. Murkowski), S309 [31JA] S. 3703 — A bill to clarify that an issuer may exclude a shareholder proposal pursuant to section 240.14a-8(i) of title 17, Code of Federal Regulations, without regard to whether that proposal relates to a significant social policy issue; to the Committee on Banking, Housing, and Urban Affairs. By Mr. HAGERTY, S309 [31JA] S. 3704 — A bill to amend the Natural Gas Act to allow the Federal Energy Regulatory Commission to approve or deny applications for the siting, construction, expansion, or operation of facilities to export or import natural gas, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. SCOTT of South Carolina (for himself, Mr. Hagerty, Mr. Crapo, Mr. Risch, Mr. Mullin, Ms. Ernst, Mr. Hoeven, Mr. Ricketts, Mr. Scott of Florida, Mr. Cassidy, Mr. Budd, Mrs. Britt, Mr. Thune, Mr. Tillis, Mr. Rounds, Mr. Cotton, Mr. Kennedy, and Mr. Lankford), S309 [31JA] Cosponsors added, S344 [1FE], S423 [6FE], S986 [26FE], S1013 [27FE] S. 3705 — A bill to protect individuals who face reprisals for defending human rights and democracy by enhancing the capacity of the United States Government to prevent, mitigate, and respond in such cases, and for other purposes; to the Committee on Foreign Relations. By Mr. CARDIN (for himself, Mr. Murphy, Mr. Kaine, Mr. Merkley, Mr. Booker, Mr. Van Hollen, Mr. Markey, and Mr. Welch), S309 [31JA] S. 3706 — A bill to amend section 3663A of title 18, United States Code, to clarify that restitution includes necessary and reasonable expenses incurred by a person who has assumed the victim’s rights; to the Committee on the Judiciary. By Mr. CORNYN (for himself, Mr. Blumenthal, Mrs. Blackburn, and Mr. Whitehouse), S309 [31JA] Committee discharged. Passed Senate, S1090 [29FE] Text, S1090 [29FE] Message from the Senate, H777 [1MR] Held at the desk, H777 [1MR] S. 3707 — A bill to require the Secretary of State to submit annual reports reviewing the educational material used by the Palestinian Authority in schools, and for other purposes; to the Committee on Foreign Relations. By Mr. KENNEDY (for himself and Mr. Paul), S309 [31JA] S. 3708 — A bill to reprogram Federal funds appropriated for UNRWA to construct the southwest border wall and to prohibit future funding for UNRWA; to the Committee on Foreign Relations. By Mr. KENNEDY (for himself, Mr. Rubio, Mr. Crapo, Mr. Barrasso, Mrs. Blackburn, Mr. Cotton, Mr. Cramer, Ms. Lummis, and Mr. Wicker), S309 [31JA] Cosponsors added, S344 [1FE], S361 [5FE], S1014 [27FE] S. 3709 — A bill to amend the Securities Act of 1933 to add additional investment thresholds for an individual to qualify as an accredited investor, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BUDD (for himself, Ms. Smith, and Mr. Braun), S309 [31JA] S. 3710 — A bill to amend the Securities Act of 1933 with respect to small company capital formation, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BUDD (for himself and Mr. Braun), S309 [31JA] S. 3711 — A bill to provide tax relief with respect to certain wildfire relief payments; to the Committee on Finance. By Mr. PADILLA (for himself, Mr. Cassidy, Mr. Tester, and Ms. Lummis), S309 [31JA] S. 3712 — A bill to amend the National Voter Registration Act of 1993 to treat United States Citizenship and Immigration Services field offices as voter registration agencies, and for other purposes; to the Committee on the Judiciary. By Mr. PADILLA (for himself, Mr. Merkley, Ms. Butler, Mr. Welch, Mr. Whitehouse, Ms. Warren, Mr. Bennet, Ms. Cortez Masto, Ms. Hirono, Mr. Sanders, Mr. Cardin, Mr. Schatz, Ms. Duckworth, Mr. Durbin, Mr. Luján, Mr. Kaine, and Mr. Booker), S309 [31JA] S. 3713 — A bill to prohibit the Federal Government from conducting, funding, approving, or otherwise supporting any research involving human fetal tissue that is obtained pursuant to an induced abortion, and to prohibit the solicitation or knowing acquisition, receipt, or acceptance of a donation of such tissue; to the Committee on Health, Education, Labor, and Pensions. By Mrs. HYDE-SMITH (for herself, Mr. Braun, Mr. Mullin, Mr. Cotton, Mr. Thune, Mr. Daines, Mr. Lee, Mr. Risch, Mr. Rubio, Mr. Lankford, Mr. Cramer, Mrs. Blackburn, Mr. Budd, Mr. Rounds, Mrs. Fischer, and Mr. Kennedy), S309 [31JA] Cosponsors added, S423 [6FE] S. 3714 — A bill to amend the Immigration and Nationality Act to require the President to set a minimum annual goal for the number of refugees to be admitted, and for other purposes; to the Committee on the Judiciary. By Mr. MARKEY (for himself, Ms. Warren, Mr. Coons, Mr. Blumenthal, Mr. Murphy, Mrs. Shaheen, Mr. Padilla, Mr. Durbin, Ms. Smith, Mr. Welch, Mr. Sanders, Mr. Kaine, Mrs. Murray, Ms. Hirono, Mr. Merkley, and Ms. Duckworth), S309 [31JA] Cosponsors added, S423 [6FE], S2720 [11AP] S. 3715 — A bill to amend the Securities Exchange Act of 1934 to prohibit mandatory pre-dispute arbitration agreements, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. MERKLEY (for himself, Mr. Blumenthal, Ms. Cortez Masto, Mr. Durbin, Mr. Menendez, Mr. Whitehouse, and Ms. Warren), S309 [31JA] S. 3716 — A bill to create children’s lifetime savings accounts, and for other purposes; to the Committee on Finance. By Mr. CASEY (for himself, Mr. Wyden, Mr. Schumer, Ms. Smith, Mr. Fetterman, and Mr. Blumenthal), S309 [31JA] Cosponsors added, S2598 [22MR], S3815 [21MY] S. 3717 — A bill to prohibit United States voluntary contributions to the United Nations; to the Committee on Foreign Relations. By Mr. SCOTT of South Carolina (for himself and Mr. Cruz), S309 [31JA] S. 3718 — A bill to prevent the distribution of intimate visual depictions without consent; to the Committee on the Judiciary. By Mr. LEE, S309 [31JA] S. 3719 — A bill to amend the Environmental Research, Development, and Demonstration Authorization Act of 1978 to revise the duties of the Science Advisory Board, and for other purposes; to the Committee on Environment and Public Works. By Mr. BUDD (for himself and Mr. Manchin), S342 [1FE] S. 3720 — A bill to amend the Consumer Credit Protection Act to provide for additional requirements for land installment contract transactions; to the Committee on Banking, Housing, and Urban Affairs. By Ms. SMITH (for herself and Ms. Lummis), S342 [1FE] S. 3721 — A bill prescribe requirements with respect to plants detained by the Secretary of the Interior on suspicion of a violation of the Lacey Act Amendments of 1981, and for other purposes; to the Committee on Environment and Public Works. By Mr. RICKETTS (for himself, Mr. Wicker, and Mrs. Britt), S342 [1FE] S. 3722 — A bill to require a report on access to maternal health care within the military health system, and for other purposes; to the Committee on Armed Services. By Mr. RUBIO (for himself and Mr. Tester), S342 [1FE] Cosponsors added, S1014 [27FE], S1078 [29FE], S2366 [12MR], S2470 [20MR], S4116 [17JN] S. 3723 — A bill to prohibit funding for the United Nations Relief and Works Agency, and for other purposes; to the Committee on Finance. By Mr. COTTON (for himself and Mr. Cruz), S342 [1FE] Cosponsors added, S361 [5FE] S. 3724 — A bill to prohibit the Environmental Protection Agency from using assessments generated by the Integrated Risk Information System as a tier 1 data source in rulemakings and other regulatory actions, and for other purposes; to the Committee on Environment and Public Works. By Mr. KENNEDY, S342 [1FE] S. 3725 — A bill to amend the Toxic Substances Control Act to codify a Federal cause of action and a type of remedy available for individuals significantly exposed to per- and polyfluoroalkyl substances, to encourage research and accountability for irresponsible discharge of those substances, and for other purposes; to the Committee on Environment and Public Works. By Mrs. GILLIBRAND, S342 [1FE] S. 3726 — A bill to amend Federal law to remove the terms ‘‘mentally retarded’’ and ‘‘mental retardation’’, and for other purposes; to the Committee on the Judiciary. By Mr. CASEY (for himself and Mr. Moran), S342 [1FE] S. 3727 — A bill to establish the Proprietary Education Interagency Oversight Committee and to facilitate the disclosure and reporting of information regarding complaints and investigations related to proprietary institutions of higher education eligible to receive Federal education assistance; to the Committee on Health, Education, Labor, and Pensions. By Mr. DURBIN (for himself, Ms. Smith, Mr. Blumenthal, Mr. Merkley, and Ms. Warren), S342 [1FE] Text, S344 [1FE] S. 3728 — A bill to amend title 38, United States Code, to modify the administration of housing loans of the Department of Veterans Affairs to prevent or resolve default under such loans, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. TESTER (for himself and Mr. Brown), S342 [1FE] Cosponsors added, S2668 [9AP], S3079 [30AP] S. 3729 — A bill to modify eligibility requirements for amateur sports governing organizations; to the Committee on Commerce, Science, and Transportation. By Mr. TUBERVILLE, S343 [1FE] S. 3730 — A bill to amend the Small Business Investment Act of 1958 to increase the amount that may be invested in small business investment companies; to the Committee on Banking, Housing, and Urban Affairs. By Mr. YOUNG (for himself, Ms. Duckworth, and Mr. Risch), S343 [1FE] S. 3731 — A bill to permit under certain conditions the transportation of passengers between ports in the State of Alaska, or between a port in the State of Alaska and a port in the State of Washington, on vessels not qualified to engage in the coastwise trade that transport more than 1,000 passengers, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. MURKOWSKI, S343 [1FE] S. 3732 — A bill to require the Administrator of the Environmental Protection Agency to carry out a study on the environmental impacts of artificial intelligence, to require the Director of the National Institute of Standards and Technology to convene a consortium on such environmental impacts, and to require the Director to develop a voluntary reporting system for the reporting of the environmental impacts of artificial intelligence, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. MARKEY (for himself, Mr. Heinrich, Mr. Wyden, Mr. Welch, Mr. Padilla, and Mr. Booker), S343 [1FE] Cosponsors added, S2347 [11MR] S. 3733 — A bill to require the Secretary of Health and Human Services to conduct a national, evidence-based education campaign to increase public and health care provider awareness regarding the potential risks and benefits of human cell and tissue products transplants, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. PETERS (for himself and Ms. Stabenow), S361 [5FE] Cosponsors added, S3598 [8MY] S. 3734 — A bill to require submission of the National Security Strategy and the budget of the President before the President may deliver the State of the Union address; to the Committee on Rules and Administration. By Ms. ERNST, S361 [5FE] Cosponsors added, S2280 [7MR] S. 3735 — A bill to prohibit the Securities and Exchange Commission from finalizing, implementing, or enforcing a proposed rule with respect to conflicts of interest associated with the use of predictive data analytics by broker-dealers and investment advisers, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. CRUZ (for himself, Mr. Hagerty, and Mr. Rounds), S421 [6FE] S. 3736 — A bill to strengthen Federal data collection regarding the teacher and principal workforce; to the Committee on Health, Education, Labor, and Pensions. By Mr. DURBIN (for himself and Mr. Booker), S421 [6FE] Text, S423 [6FE] S. 3737 — A bill to direct the Attorney General to conduct a study on animal cruelty, and for other purposes; to the Committee on the Judiciary. By Mr. PETERS (for himself and Mr. Tillis), S421 [6FE] S. 3738 — A bill to reauthorize the Great Lakes Restoration Initiative, and for other purposes; to the Committee on Environment and Public Works. By Ms. STABENOW (for herself, Mr. Vance, Ms. Klobuchar, Mr. Young, Ms. Duckworth, Mr. Brown, Ms. Baldwin, Mr. Durbin, Mrs. Gillibrand, Ms. Smith, Mr. Peters, Mr. Fetterman, Mr. Schumer, and Mr. Casey), S421 [6FE] Reported (no written report), S3316 [2MY] S. 3739 — A bill to establish due process requirements for the investigation of intercollegiate athletics, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. BLACKBURN (for herself and Mr. Booker), S421 [6FE] S. 3740 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to reauthorize the residential substance use disorder treatment program, and for other purposes; to the Committee on the Judiciary. By Mr. CORNYN (for himself, Mr. Whitehouse, Mr. Tillis, Ms. Klobuchar, Mr. Cassidy, and Ms. Hassan), S421 [6FE] Cosponsors added, S2646 [8AP] S. 3741 — A bill to prohibit the Secretary of Health and Human Services from restricting funding for pregnancy centers; to the Committee on Health, Education, Labor, and Pensions. By Mr. SCOTT of South Carolina (for himself, Mr. Schmitt, Mrs. Hyde-Smith, Mr. Risch, Mr. Kennedy, and Mr. Braun), S421 [6FE] Cosponsors added, S444 [7FE] S. 3742 — A bill to amend the Higher Education Act of 1965 to establish a community college and career training grant program; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE (for himself and Mr. Young), S421 [6FE] S. 3743 — A bill to amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations; to the Committee on Finance. By Mr. WHITEHOUSE (for himself, Mr. Schatz, Ms. Smith, Ms. Cortez Masto, Mr. Van Hollen, Ms. Warren, Mr. Merkley, Ms. Baldwin, Ms. Butler, and Mr. Welch), S421 [6FE] S. 3744 — A bill to amend title XI of the Social Security Act to lower barriers to increase patient access to health care; to the Committee on Finance. By Mr. CASSIDY (for himself and Mr. Padilla), S442 [7FE] S. 3745 — A bill to extend reemployment services and eligibility assessments to all claimants for unemployment benefits, and for other purposes; to the Committee on Finance. By Mr. COONS (for himself, Mr. Cassidy, Mr. Kaine, and Mr. Tillis), S442 [7FE] S. 3746 — A bill to amend title 38, United States Code, to make certain spouses eligible for services under the disabled veterans’ outreach program, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. HASSAN (for herself, Mr. Cassidy, Mr. Kelly, and Mr. Schmitt), S442 [7FE] Cosponsors added, S2280 [7MR] S. 3747 — A bill to allow individuals with disabilities to campaign for elected office without losing access to federally supported benefits; to the Committee on Finance. By Mr. CASEY (for himself, Ms. Klobuchar, Mrs. Gillibrand, Mr. Padilla, Mr. Welch, Mr. Van Hollen, Mr. Markey, Mr. Sanders, Mr. Merkley, Mr. Whitehouse, Mr. Fetterman, Ms. Hirono, Mr. Blumenthal, Ms. Duckworth, Mr. Booker, and Mr. Wyden), S442 [7FE] S. 3748 — A bill to amend the Help America Vote Act of 2002 to increase voting accessibility for individuals with disabilities and older individuals, and for other purposes; to the Committee on Rules and Administration. By Mr. CASEY (for himself, Ms. Klobuchar, Mrs. Gillibrand, Mr. Welch, Mr. Van Hollen, Mr. Cardin, Mr. Merkley, Mr. Sanders, Mr. Markey, Ms. Baldwin, Ms. Duckworth, Mr. Fetterman, Ms. Hirono, Mr. Blumenthal, Mr. Wyden, Mr. Brown, and Mr. Whitehouse), S443 [7FE] S. 3749 — A bill to support local governments for jurisdictions that elect or appoint a person with a disability in providing the accommodations needed for the elected or appointed official to carry out their official work duties, and to build the capacity of local governments to have consistent and adequate funding for accommodations; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself, Ms. Klobuchar, Mrs. Gillibrand, Mr. Padilla, Mr. Welch, Mr. Van Hollen, Mr. Sanders, Mr. Brown, Mr. Fetterman, Ms. Hirono, Mr. Blumenthal, Ms. Duckworth, Mr. Wyden, and Mr. Whitehouse), S443 [7FE] S. 3750 — A bill to reform the congressional redistricting process, and for other purposes; to the Committee on the Judiciary. By Ms. KLOBUCHAR (for herself and Ms. Butler), S443 [7FE] S. 3751 — A bill to expand and modify the grant program of the Department of Veterans Affairs to provide innovative transportation options to veterans in highly rural areas, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. OSSOFF (for himself, Ms. Collins, Mr. Thune, and Mr. Young), S443 [7FE] Cosponsors added, S497 [8FE], S2470 [20MR] S. 3752 — A bill to prohibit requiring a pilot of an unmanned aircraft to hold a medical certificate as a condition for piloting such aircraft, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ (for himself, Mr. Budd, and Mr. Warner), S443 [7FE] S. 3753 — A bill to amend the Energy Policy and Conservation Act to provide financial assistance to States to implement expanded energy savings performance contracting programs, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. WELCH (for himself, Mr. Coons, Mrs. Shaheen, Mr. Van Hollen, and Ms. Smith), S443 [7FE] S. 3754 — A bill to establish the Mississippi River Restoration and Resilience Initiative to carry out projects for the protection and restoration of the Mississippi River Corridor, and for other purposes; to the Committee on Environment and Public Works. By Ms. BALDWIN (for herself, Ms. Duckworth, and Ms. Smith), S443 [7FE] Cosponsors added, S856 [11FE] S. 3755 — A bill to amend the CARES Act to remove a requirement on lessors to provide notice to vacate, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. RUBIO (for himself and Mr. Hagerty), S443 [7FE] Cosponsors added, S2598 [22MR], S2668 [9AP], S2720 [11AP], S2875 [18AP], S3000 [23AP], S3886 [23MY] S. 3756 — A bill to establish a new pilot program that would test coverage of outpatient observation services furnished outside a hospital under the Acute Hospital Care at Home initiative; to the Committee on Finance. By Mr. RUBIO (for himself, Mr. Carper, and Mrs. Blackburn), S443 [7FE] S. 3757 — A bill to reauthorize the congenital heart disease research, surveillance, and awareness program of the Centers for Disease Control and Prevention, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. DURBIN (for himself and Mr. Young), S443 [7FE] Text, S445 [7FE] Cosponsors added, S2441 [19MR], S3856 [22MY] Reported with amendment (no written report), S4152 [18JN] S. 3758 — A bill to address security vulnerabilities with respect to unmanned aircraft systems used by civilian Federal agencies, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. WARNER (for himself and Mr. Thune), S443 [7FE] S. 3759 — A bill to assist entrepreneurs and support development of the creative economy, and for other purposes; to the Committee on Small Business and Entrepreneurship. By Mr. SCHATZ (for himself and Mr. Cornyn), S443 [7FE] S. 3760 — A bill to amend the Agricultural Credit Act of 1978 to authorize the Secretary of Agriculture to carry out emergency watershed protection measures on National Forest System land, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BENNET (for himself and Mr. Romney), S443 [7FE] Cosponsors added, S2280 [7MR] S. 3761 — A bill to amend the Food, Conservation, and Energy Act of 2008 to reauthorize the Farm and Ranch Stress Assistance Network and establish a national agricultural crisis hotline, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mrs. GILLIBRAND, S443 [7FE] S. 3762 — A bill to prohibit certain discrimination against athletes on the basis of sex by State athletic associations, intercollegiate athletic associations, and covered institutions of higher education, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. MURPHY (for himself, Mr. Blumenthal, and Mr. Wyden), S443 [7FE] S. 3763 — A bill to direct the Attorney General to establish a grant program to establish, implement, and administer violent incident clearance and technology investigative methods, and for other purposes; to the Committee on the Judiciary. By Mr. BOOKER (for himself, Mr. Kennedy, Mr. Durbin, and Mr. Tillis), S443 [7FE] S. 3764 — A bill to extend and authorize annual appropriations for the United States Commission on International Religious Freedom through fiscal year 2026; to the Committee on Foreign Relations. By Mr. RUBIO (for himself, Mr. Cardin, Mr. Cruz, Mr. Coons, and Mr. Lankford), S443 [7FE] Cosponsors added, S599 [9FE], S3816 [21MY] S. 3765 — A bill to amend the Public Health Service Act to reauthorize the Emergency Medical Services for Children program; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself and Mr. Budd), S443 [7FE] Cosponsors added, S2791 [16AP], S3000 [23AP], S3079 [30AP], S3856 [22MY] Reported (no written report), S4152 [18JN] S. 3766 — A bill to amend title XVIII of the Social Security Act to provide for outreach and education to Medicare beneficiaries to simplify access to information for family caregivers through 1–800–MEDICARE, and for other purposes; to the Committee on Finance. By Mr. TILLIS (for himself and Ms. Hassan), S443 [7FE] Cosponsors added, S2875 [18AP] S. 3767 — A bill to amend title 18, United States Code, to create or enhance penalties for murder and assault committed against a law enforcement officer, and for other purposes; to the Committee on the Judiciary. By Mr. TILLIS (for himself, Mrs. Blackburn, and Mr. Cornyn), S494 [8FE] S. 3768 — A bill to extend and modify the transportation grant program of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. CRAMER (for himself and Mr. King), S494 [8FE] S. 3769 — A bill to amend the Child Abuse Prevention and Treatment Act to provide for alternative pathways of addressing child abuse and neglect; to the Committee on Health, Education, Labor, and Pensions. By Mr. LUJÁN, S494 [8FE] S. 3770 — A bill to amend the Public Health Service Act to authorize grants to support schools of nursing in increasing the number of nursing students and faculty and in program enhancement and infrastructure modernization, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. MERKLEY (for himself, Mr. Welch, Ms. Smith, Mr. King, Mr. Booker, Mr. Blumenthal, Ms. Klobuchar, Mr. Sanders, Ms. Hirono, and Mr. Padilla), S494 [8FE] Cosponsors added, S599 [9FE], S2741 [15AP], S2828 [17AP], S3955 [4JN], S4154 [18JN] S. 3771 — A bill to amend title 5, United States Code, to provide increased locality pay rates to certain Bureau of Prisons employees whose duty stations are located in the pay locality designated as ‘‘Rest of U.S.’’, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. CASSIDY (for himself, Mr. Blumenthal, and Mr. Casey), S494 [8FE] S. 3772 — A bill to amend the Small Business Act to require that plain writing statements regarding the solicitation of subcontractors be included in certain subcontracting plans, and for other purposes; to the Committee on Small Business and Entrepreneurship. By Mr. RISCH (for himself, Mr. Hickenlooper, Mr. Budd, Mr. Crapo, Mr. Kennedy, and Mr. Rubio), S494 [8FE] Cosponsors added, S955 [12FE] Reported (no written report), S3883 [23MY] S. 3773 — A bill to require the Inspector General of the Department of Health and Human Services to evaluate the cybersecurity practices and protocols of the Department, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. RUBIO (for himself, Mr. King, Mr. Tillis, and Ms. Hassan), S494 [8FE] S. 3774 — A bill to provide additional funding under the Child Abuse Prevention and Treatment Act; to the Committee on Health, Education, Labor, and Pensions. By Mr. LUJÁN (for himself, Mr. Casey, and Mr. Heinrich), S494 [8FE] S. 3775 — A bill to amend the Public Health Service Act to reauthorize the BOLD Infrastructure for Alzheimer’s Act, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. COLLINS (for herself, Ms. Cortez Masto, Mrs. Capito, and Mr. Kaine), S494 [8FE] Cosponsors added, S1014 [27FE], S1045 [28FE], S1078 [29FE], S2214 [5MR], S2280 [7MR], S2366 [12MR], S2516 [21MR], S2668 [9AP], S2708 [10AP], S2741 [15AP], S2791 [16AP], S2875 [18AP], S2933 [19AP], S3080 [30AP], S3756 [16MY], S3856 [22MY] Reported with amendment (no written report), S4152 [18JN] S. 3776 — A bill to establish a safe-to-report policy within the Coast Guard, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. BLUMENTHAL (for himself, Mr. Johnson, Mr. Murphy, Mrs. Blackburn, Ms. Baldwin, and Mrs. Britt), S494 [8FE] S. 3777 — A bill to require Congress to budget in advance for disasters, and for other purposes; to the Committee on the Budget. By Mr. ROMNEY (for himself and Mr. Braun), S495 [8FE] S. 3778 — A bill to amend the Safe Drinking Water Act to modify eligibility for the State response to contaminants program, and for other purposes; to the Committee on Environment and Public Works. By Mrs. SHAHEEN (for herself, Ms. Collins, Mr. Kelly, and Mr. King), S495 [8FE] Cosponsors added, S2708 [10AP] S. 3779 — A bill to authorize the Secretary of Health and Human Services to award grants to establish or expand programs to implement evidence-aligned practices in health care settings for the purpose of reducing the suicide rates of covered individuals, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. SCHATZ (for himself, Mr. Blumenthal, Mr. Kaine, Mr. Brown, Mr. Booker, Mr. Van Hollen, Ms. Klobuchar, and Mr. Wyden), S495 [8FE] Cosponsors added, S599 [9FE], S3856 [22MY] S. 3780 — A bill to amend the Communications Act of 1934 to provide for additional prohibitions and enhanced penalties for providing or possessing wireless communications devices in detention facilities, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. HYDE-SMITH (for herself, Mr. Braun, and Mr. Wicker), S495 [8FE] S. 3781 — A bill to amend the National Telecommunications and Information Administration Organization Act to codify the Institute for Telecommunication Sciences, to direct the Assistant Secretary of Commerce for Communications and Information to establish an initiative to support the development of emergency communication and tracking technologies, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. DUCKWORTH (for herself and Mrs. Blackburn), S495 [8FE] S. 3782 — A bill to require regular briefings on efforts to capture or kill the leadership of the Jalisco New Generation Cartel; to the Committee on Armed Services. By Mr. COTTON, S495 [8FE] S. 3783 — A bill to require the Committee on Foreign Investment in the United States to respond to the Governor of a State who requests a determination with respect to whether a transaction would trigger a review by the Committee; to the Committee on Banking, Housing, and Urban Affairs. By Mr. CRAMER, S495 [8FE] S. 3784 — A bill to provide requirements for the bulk auction or group sale of certain non-performing loans, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. REED (for himself, Mr. Brown, Ms. Smith, Mr. Wyden, and Mr. Merkley), S495 [8FE] S. 3785 — A bill to support rural coastal and maritime economic development, and for other purposes; to the Committee on Finance. By Ms. MURKOWSKI, S495 [8FE] Cosponsors added, S986 [26FE] S. 3786 — A bill to provide for the standardization, publication, and accessibility of data relating to public outdoor recreational use of Federal waterways, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ, S495 [8FE] S. 3787 — A bill to amend the Internal Revenue Code of 1986 to increase the credit for employers establishing workplace child care facilities, to increase the child care credit to encourage greater use of quality child care services, to provide incentives for students to earn child care-related degrees and to work in child care facilities, and to increase the exclusion for employer-provided dependent care assistance; to the Committee on Finance. By Mrs. SHAHEEN (for herself, Mr. King, Ms. Klobuchar, and Mrs. Gillibrand), S495 [8FE] S. 3788 — A bill to reauthorize the National Landslide Preparedness Act, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. MURKOWSKI (for herself and Ms. Cantwell), S495 [8FE] S. 3789 — A bill to make additional Federal public land available for selection under the Alaska Native Vietnam era veterans land allotment program, and for other purposes; to the Committee on Environment and Public Works. By Mr. SULLIVAN (for himself and Ms. Murkowski), S495 [8FE] S. 3790 — A bill to make additional Federal public land available for selection under the Alaska Native Vietnam era veterans land allotment program, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. SULLIVAN (for himself and Ms. Murkowski), S495 [8FE] S. 3791 — A bill to reauthorize the America’s Conservation Enhancement Act, and for other purposes; to the Committee on Environment and Public Works. By Mr. CARPER (for himself, Mrs. Capito, Mr. Cardin, Mr. Boozman, Mr. Padilla, Mr. Wicker, Mr. Whitehouse, Mr. Mullin, and Mr. Van Hollen), S495 [8FE] Cosponsors added, S2331 [8MR], S2516 [21MR], S2741 [15AP], S3504 [7MY] Reported with amendment (S. Rept. 118–160), S2364 [12MR] Passed Senate amended, S3626 [8MY] Amendments, S3626 [8MY] Message from the Senate (received May 9, 2024), H3001 [10MY] Held at the desk, H3001 [10MY] S. 3792 — A bill to expand the functions of the National Institute of Standards and Technology to include workforce frameworks for critical and emerging technologies, to require the Director of the National Institute of Standards and Technology to develop an artificial intelligence workforce framework, and periodically review and update the National Initiative for Cybersecurity Education Workforce Framework for Cybersecurity, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. PETERS (for himself and Mr. Schmitt), S495 [8FE] S. 3793 — A bill to reauthorize the HOME Investment Partnerships Program, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. CORTEZ MASTO (for herself, Ms. Smith, Mr. Fetterman, and Ms. Rosen), S599 [9FE] S. 3794 — A bill to direct the Secretary of Labor to support the development of pre-apprenticeship programs in the building and construction trades that serve underrepresented populations, including individuals from low income and rural census tracts; to the Committee on Health, Education, Labor, and Pensions. By Mr. HEINRICH (for himself, Mr. Brown, Mr. Wyden, Mr. Schatz, and Mr. Whitehouse), S599 [9FE] Cosponsors added, S1014 [27FE] S. 3795 — A bill to amend the Internal Revenue Code of 1986 to provide that the 50 percent limitation on the deduction for meal expenses does not apply to meals provided on certain fishing boats or at certain fish processing facilities; to the Committee on Finance. By Ms. MURKOWSKI (for herself and Mr. Sullivan), S599 [9FE] S. 3796 — A bill to prohibit the transfer of Department of Homeland Security staff from an international land port of entry along southwest border unless such transfer would not impact the processing of trade through such port of entry, such staff would be immediately replaced, or such staff are needed to actively engage in physical detentions to secure such border, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. CRUZ (for himself, Mr. Ricketts, Mr. Scott of Florida, Mr. Lee, and Mrs. Blackburn), S856 [11FE] S. 3797 — A bill to amend the Indian Health Care Improvement Act to address liability for payment of charges or costs associated with provision of purchased/referred care services, and for other purposes; to the Committee on Indian Affairs. By Mr. ROUNDS (for himself, Ms. Cantwell, Mr. Thune, Mr. Hoeven, and Mrs. Murray), S954 [12FE] S. 3798 — A bill to amend the Internal Revenue Code of 1986 to require taxpayers claiming the child and earned income tax credits, and their qualifying children, to have a valid Social Security number for employment purposes; to the Committee on Finance. By Mrs. HYDE-SMITH, S954 [12FE] Text, S956 [12FE] S. 3799 — A bill to require the Secretary of Health and Human Services to evaluate how the frequency of summary notices provided to patients can be increased, and for other purposes; to the Committee on Finance. By Mr. RUBIO, S954 [12FE] S. 3800 — A bill to increase the penalties for health care fraud, and for other purposes; to the Committee on the Judiciary. By Mr. RUBIO, S954 [12FE] S. 3801 — A bill to amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. CRUZ (for himself, Mr. Hagerty, Mr. Scott of Florida, Mr. Braun, Mr. Budd, and Mr. Cramer), S984 [26FE] Cosponsors added, S1014 [27FE], S1045 [28FE], S2214 [5MR], S2441 [19MR] S. 3802 — A bill to make additional Federal public land available for selection under the Alaska Native Vietnam era veterans land allotment program, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. MURKOWSKI (for herself and Mr. Sullivan), S985 [26FE] S. 3803 — A bill to make price gouging unlawful, to expand the ability of the Federal Trade Commission to seek permanent injunctions and equitable relief, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. WARREN (for herself, Ms. Baldwin, Mr. Casey, Mr. Sanders, Mr. Merkley, Mr. Markey, Mr. Whitehouse, Mr. Blumenthal, and Mr. Fetterman), S985 [26FE] Cosponsors added, S4020 [11JN] S. 3804 — A bill to designate the area of Sumner Row between 16th Street Northwest and L Street Northwest in Washington, District of Columbia, as ‘‘Alexi Navalny Way’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. DURBIN (for himself, Mr. Cassidy, Mr. Fetterman, Mr. Kaine, Mrs. Shaheen, Mr. Van Hollen, Mr. Scott of Florida, Mr. Whitehouse, Mr. Coons, Mr. Welch, Mr. Casey, Ms. Klobuchar, Mr. Merkley, Mr. Boozman, and Ms. Smith), S985 [26FE] Text, S987 [26FE] Cosponsors added, S1014 [27FE], S1045 [28FE], S2214 [5MR] S. 3805 — A bill to amend title XI of the Social Security Act to prohibit health plans from imposing fees on health care providers for electronic funds transfers and health care payment and remittance advice transactions, and for other purposes; to the Committee on Finance. By Mr. CASSIDY (for himself and Ms. Cantwell), S1011 [27FE] Cosponsors added, S2720 [11AP], S3686 [14MY] S. 3806 — A bill to amend the Food and Nutrition Act of 2008 to improve the cost of living adjustment exclusion from income under the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WELCH (for himself, Mr. Padilla, Mr. Sanders, Mr. Wyden, and Mr. Markey), S1011 [27FE] Cosponsors added, S2708 [10AP] S. 3807 — A bill to amend the Food and Nutrition Act of 2008 to allow for deductions of student loan payments from income; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WELCH (for himself, Ms. Duckworth, Mrs. Shaheen, Mr. Booker, Mr. Padilla, Mr. Sanders, Mr. Wyden, and Mr. Blumenthal), S1011 [27FE] S. 3808 — A bill to prohibit deployment of Federal air marshals to the southern and northern borders of the United States, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ, S1011 [27FE] S. 3809 — A bill to require electronic medical records at the Department of State for Foreign Service personnel; to the Committee on Foreign Relations. By Mr. RISCH, S1011 [27FE] S. 3810 — A bill to prohibit conflict of interests among consulting firms that simultaneously contract with the Government of the People’s Republic of China and the United States Government, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. HAWLEY, S1011 [27FE] Cosponsors added, S3655 [9MY], S3712 [15MY], S3756 [16MY] S. 3811 — A bill to amend the Immigration and Nationality Act to clarify the authority of immigration judges to sanction any contempt of the judge’s authority; to the Committee on the Judiciary. By Mr. KENNEDY (for himself, Mr. Cruz, and Mrs. Blackburn), S1012 [27FE] S. 3812 — A bill to provide firearm licensees an opportunity to correct statutory and regulatory violations, and for other purposes; to the Committee on the Judiciary. By Ms. ERNST (for herself, Mrs. Blackburn, Mr. Braun, Mr. Budd, Mr. Cassidy, Mr. Cramer, Mr. Daines, Ms. Lummis, Mr. Marshall, Mr. Mullin, Mr. Ricketts, Mr. Risch, Mr. Rubio, Mr. Scott of Florida, Mr. Tillis, Mr. Vance, and Mr. Crapo), S1012 [27FE] Cosponsors added, S1045 [28FE], S2741 [15AP] S. 3813 — A bill to amend title 5, United States Code, relative to the powers of the Inspector General of the Department of Justice; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Mr. Lee, Mr. Grassley, Ms. Klobuchar, Mr. Coons, Mr. Blumenthal, Mr. Cruz, Ms. Hirono, Mr. Hawley, Mr. Welch, Ms. Butler, and Mr. Rubio), S1012 [27FE] Text, S1014 [27FE] S. 3814 — A bill to prohibit actions that would authorize conduct of official United States Government business in the Gaza Strip or the West Bank; to the Committee on Banking, Housing, and Urban Affairs. By Mr. CRUZ (for himself, Mr. Cotton, Mr. Rubio, and Mr. Hagerty), S1012 [27FE] Cosponsors added, S1078 [29FE] S. 3815 — A bill to direct the Securities and Exchange Commission to promulgate rules with respect to the electronic delivery of certain required disclosures, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. THUNE (for Mr. TILLIS (for himself and Mr. Hickenlooper)), S1012 [27FE] S. 3816 — A bill to amend the Internal Revenue Code of 1986 to provide for lifelong learning accounts, and for other purposes; to the Committee on Finance. By Ms. KLOBUCHAR, S1012 [27FE] Cosponsors added, S1045 [28FE] S. 3817 — A bill to increase the criminal penalties for assaulting a Bureau of Prisons correctional officer; to the Committee on the Judiciary. By Mrs. BLACKBURN, S1012 [27FE] S. 3818 — A bill to amend the Clean Air Act to include fuel for ocean-going vessels as additional renewable fuel for which credits may be generated under the renewable fuel program; to the Committee on Environment and Public Works. By Mr. RICKETTS (for himself and Mr. Brown), S1012 [27FE] Cosponsors added, S2280 [7MR], S2331 [8MR], S3931 [3JN], S3992 [5JN], S4154 [18JN] S. 3819 — A bill to direct the Federal Trade Commission to issue regulations to establish shrinkflation as an unfair or deceptive act or practice, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CASEY (for himself, Ms. Baldwin, Ms. Warren, Ms. Rosen, Mr. Booker, Mr. Whitehouse, Mr. Brown, Mrs. Murray, and Mr. Sanders), S1043 [28FE] Cosponsors added, S2214 [5MR], S2347 [11MR], S3000 [23AP] S. 3820 — A bill to modernize diplomatic security, and for other purposes; to the Committee on Foreign Relations. By Mr. RUBIO (for himself and Mr. Kaine), S1043 [28FE] S. 3821 — A bill to amend title XVIII of the Social Security Act to improve the payment method for oxygen and oxygen related equipment, supplies, and services, to increase beneficiary access to oxygen and oxygen related equipment, supplies, and services, and for other purposes; to the Committee on Finance. By Mr. CASSIDY (for himself, Mr. Warner, and Ms. Klobuchar), S1043 [28FE] Cosponsors added, S2829 [17AP] S. 3822 — A bill to designate the medical center of the Department of Veterans Affairs in West Palm Beach, Florida, as the ‘‘Thomas H. Corey VA Medical Center’’; to the Committee on Veterans’ Affairs. By Mr. RUBIO (for himself and Mr. Scott of Florida), S1044 [28FE] S. 3823 — A bill to amend the Internal Revenue Code of 1986 to treat spaceports like airports for purposes of exempt facility bond rules; to the Committee on Finance. By Mr. RUBIO (for himself and Mr. Luján), S1044 [28FE] S. 3824 — A bill to amend the Food and Nutrition Act of 2008 to establish online and delivery standards, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. FETTERMAN (for himself and Mr. Brown), S1044 [28FE] S. 3825 — A bill to amend the Workforce Innovation and Opportunity Act to establish a State innovation demonstration authority; to the Committee on Health, Education, Labor, and Pensions. By Mr. ROMNEY, S1044 [28FE] Cosponsors added, S2240 [6MR] S. 3826 — A bill to amend the Clean Air Act to revise the treatment of certain resilience actions and natural disasters, to limit the issuance of new standards for criteria pollutants, and for other purposes; to the Committee on Environment and Public Works. By Mr. CASSIDY (for himself and Ms. Sinema), S1044 [28FE] S. 3827 — A bill to amend the Older Americans Act of 1965 to require the Assistant Secretary for Aging to award grants to States, Indian tribes, and tribal organizations to create or implement Multisector Plans for Aging and Aging with a Disability, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. GILLIBRAND (for herself and Mr. Casey), S1044 [28FE] S. 3828 — A bill to prohibit the export of liquefied natural gas and petroleum products to certain countries; to the Committee on Energy and Natural Resources. By Mr. MERKLEY (for himself, Mr. Brown, Mr. King, and Mr. Reed), S1044 [28FE] S. 3829 — A bill to address actions for applications to export liquefied natural gas, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. BARRASSO (for himself and Mr. Cassidy), S1044 [28FE] S. 3830 — A bill to authorize the Low-Income Household Water Assistance Program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. PADILLA, S1044 [28FE] S. 3831 — A bill to increase duties imposed with respect to autos imported into the United States that originate in the People’s Republic of China, and for other purposes; to the Committee on Finance. By Mr. HAWLEY, S1044 [28FE] S. 3832 — A bill to amend title XVIII of the Social Security Act to ensure appropriate access to non-opioid pain management drugs under part D of the Medicare program; to the Committee on Finance. By Mr. TILLIS (for himself and Mr. Kelly), S1076 [29FE] Cosponsors added, S3136 [1MY], S3598 [8MY], S3816 [21MY] S. 3833 — A bill to amend the Immigration and Nationality Act to provide that aliens who have been convicted of, or who have committed, an offense for driving while intoxicated or impaired are inadmissible and deportable; to the Committee on the Judiciary. By Mr. HAGERTY (for himself, Mr. Lee, Mr. Cotton, Mr. Budd, Mr. Rubio, Mrs. Britt, Mr. Lankford, Mr. Tillis, Mr. Cramer, Mrs. Capito, Mrs. Blackburn, Mrs. Fischer, and Mr. Scott of South Carolina), S1076 [29FE] S. 3834 — A bill to direct the Secretary of Veterans Affairs to ensure veterans may obtain a physical copy of a form for reimbursement of certain travel expenses by mail or at medical facilities of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. RUBIO (for himself and Ms. Sinema), S1077 [29FE] Cosponsors added, S2875 [18AP], S3655 [9MY] S. 3835 — A bill to establish an interagency Working Group to study financial safety and inclusion for survivors, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. SMITH, S1077 [29FE] S. 3836 — A bill to improve drought-related disaster assistance programs of the Department of Agriculture, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. KENNEDY, S1077 [29FE] S. 3837 — A bill to improve financial literacy training for members of the Armed Forces; to the Committee on Armed Services. By Mrs. MURRAY (for herself and Mr. Schmitt), S1077 [29FE] S. 3838 — A bill to amend the Agricultural Credit Act of 1978 to authorize assistance for emergency measures in response to pine beetle outbreaks, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mrs. HYDE–SMITH, S1077 [29FE] S. 3839 — A bill to designate the facility of the United States Postal Service located at 203 East 6th Street in Lexington, Nebraska, as the ‘‘Bill Barrett Post Office Building’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. RICKETTS (for himself and Mrs. Fischer), S1077 [29FE] S. 3840 — A bill to amend the Securities Exchange Act of 1934 to prohibit exchanges from effecting transactions in securities issued by natural asset companies, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. LUMMIS (for herself, Mr. Barrasso, Mr. Risch, Mr. Ricketts, Mr. Marshall, Mr. Lee, Mr. Cotton, Mr. Crapo, Mr. Sullivan, Mr. Lankford, and Mr. Cruz), S1077 [29FE] S. 3841 — A bill to require the Secretary of Veterans Affairs to submit a report on the impact of a proposed rule submitted by the Centers for Medicare & Medicaid Services on access of veterans to long-term care facilities; to the Committee on Veterans’ Affairs. By Mr. KING (for himself and Mr. Cramer), S1077 [29FE] S. 3842 — A bill to posthumously award a Congressional Gold Medal to Muhammed Ali, in recognition of his contributions to the United States; to the Committee on Banking, Housing, and Urban Affairs. By Mr. PADILLA (for himself, Mr. Booker, Ms. Butler, and Mrs. Gillibrand), S1077 [29FE] Cosponsors added, S2720 [11AP] S. 3843 — A bill to amend chapters 95 and 96 of the Internal Revenue Code of 1986 to reform the system of public financing for Presidential election campaigns, and for other purposes; to the Committee on Finance. By Mr. VAN HOLLEN (for himself and Mr. Luján), S1077 [29FE] S. 3844 — A bill to amend the Federal Election Campaign Act of 1971 to reduce the number of members of the Federal Election Commission from 6 to 5, to revise the method of selection and terms of service of members of the Commission, to distribute the powers of the Commission between the Chair and the remaining members, and for other purposes; to the Committee on Rules and Administration. By Mr. VAN HOLLEN (for himself and Mr. Luján), S1077 [29FE] S. 3845 — A bill to amend the Clean Air Act to create a national zero-emission vehicle standard, and for other purposes; to the Committee on Environment and Public Works. By Mr. MERKLEY (for himself and Mr. Whitehouse), S1077 [29FE] S. 3846 — A bill to establish a task force on waterway freight diversification and economic development in the Ohio, Allegheny, and Monongahela River corridors, and for other purposes; to the Committee on Environment and Public Works. By Mr. CASEY (for himself and Mr. Fetterman), S1077 [29FE] S. 3847 — A bill to authorize the Director of the Centers for Disease Control and Prevention to carry out a Social Determinants of Health Program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. SMITH (for herself, Mr. Murphy, Mr. Whitehouse, Ms. Baldwin, Mr. Blumenthal, Mr. Welch, Ms. Klobuchar, and Mr. Brown), S1077 [29FE] S. 3848 — A bill to direct the Secretary of Labor to freeze the existing adverse effect wage rate applicable to S. 3848. A bill to direct the Secretary of Labor to freeze the existing adverse effect wage rate applicable to H. 092. nonimmigrants through December 31, 2025; to the Committee on the Judiciary. By Mr. TILLIS (for himself, Mr. Budd, Mr. Ricketts, Mr. Marshall, Mr. Cornyn, Ms. Lummis, Mr. Scott of South Carolina, Mr. Barrasso, Mr. Braun, Mr. Graham, Mrs. Hyde-Smith, Mr. Wicker, Mr. Crapo, Mr. Scott of Florida, Mr. Kennedy, Mr. Moran, and Mr. Rounds), S1077 [29FE] Cosponsors added, S2214 [5MR] S. 3849 — A bill to promote United States leadership in technical standards by directing the National Institute of Standards and Technology and the Department of State to take certain actions to encourage and enable United States participation in developing standards and specifications for artificial intelligence and other critical and emerging technologies, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. WARNER (for himself and Mrs. Blackburn), S1077 [29FE] S. 3850 — A bill to provide for research and improvement of cardiovascular health among the South Asian population of the United States, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BOOKER, S1077 [29FE] S. 3851 — A bill to designate the facility of the United States Postal Service located at 90 McCamly Street South in Battle Creek, Michigan, as the ‘‘Sojourner Truth Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Ms. Stabenow), S1077 [29FE] Reported (no written report), S2718 [11AP] Passed Senate, S2993 [23AP] Text, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 3852 — A bill to require the Secretary of the Interior, acting through the Director of the United States Fish and Wildlife Service, to promulgate regulations prohibiting the use of lead ammunition on all land and water under the jurisdiction and control of the United States Fish and Wildlife Service, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. DUCKWORTH (for herself and Mr. Booker), S1077 [29FE] S. 3853 — A bill to extend the period for filing claims under the Radiation Exposure Compensation Act and to provide for compensation under such Act for claims relating to Manhattan Project waste, and to improve compensation for workers involved in uranium mining; read the first time. By Mr. HAWLEY, S1077 [29FE] Debated, S1079 [29FE], S2256 [7MR] Read the first time, S1090 [29FE] Read the second time and placed on the calendar, S1095 [5MR] Cosponsors added, S2214 [5MR], S2240 [6MR] Passed Senate, S2265 [7MR] Message from the Senate, H1065 [11MR] Held at the desk, H1065 [11MR] S. 3854 — A bill to combat transnational repression abroad, to strengthen tools to combat authoritarianism, corruption, and kleptocracy, to invest in democracy research and development, and for other purposes; to the Committee on Foreign Relations. By Mr. CARDIN (for himself and Mr. Wicker), S1077 [29FE] Reported with amendment (no written report), S3503 [7MY] S. 3855 — A bill to interconnect the Electric Reliability Council of Texas to its neighbors, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. MARKEY, S1077 [29FE] Cosponsors added, S2214 [5MR] S. 3856 — A bill to require certain forest supervisors of units of the National Forest System to submit to the Chief of the Forest Service a harvesting improvement report, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. ROUNDS, S1077 [29FE] S. 3857 — A bill to take certain land in the State of California into trust for the benefit of the Jamul Indian Village of California, and for other purposes; to the Committee on Indian Affairs. By Mr. PADILLA (for himself and Ms. Butler), S1077 [29FE] S. 3858 — A bill to establish within the Office of Land and Emergency Management of the Environmental Protection Agency the Office of Mountains, Deserts, and Plains, and for other purposes; to the Committee on Environment and Public Works. By Mr. KELLY (for himself and Ms. Lummis), S1077 [29FE] Reported with amendments (no written report), S2364 [12MR] Passed Senate amended, S2752 [15AP] Amendments, S2752 [15AP] Text, S2753 [15AP] Message from the Senate, H2421 [16AP] Held at the desk, H2421 [16AP] S. 3859 — A bill to ensure that homicides can be prosecuted under Federal law without regard to the time elapsed between the act or omission that caused the death of the victim and the death itself. By Mr. GRASSLEY (for himself and Mr. Ossoff), S1077 [29FE] Text, S1089 [29FE] Message from the Senate, H777 [1MR] Held at the desk, H777 [1MR] S. 3860 — A bill to amend title XVIII of the Social Security Act to provide for patient protection by limiting the number of mandatory overtime hours a nurse may be required to work in certain providers of services to which payments are made under the Medicare Program; to the Committee on Finance. By Mr. MERKLEY (for himself, Ms. Butler, Mr. Van Hollen, and Mr. Fetterman), S2212 [5MR] S. 3861 — A bill to terminate the U.S.-People’s Republic of China Income Tax Convention if the People’s Liberation Army initiates and armed attack against Taiwan; to the Committee on Finance. By Mr. CORNYN (for himself, Mr. Coons, Mr. Cassidy, and Ms. Cortez Masto), S2212 [5MR] S. 3862 — A bill to modify the multifamily loan limits under title II of the National Housing Act, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. MENENDEZ, S2212 [5MR] S. 3863 — A bill to clarify the country of origin of certain passenger motor vehicles; to the Committee on Finance. By Mr. RUBIO, S2212 [5MR] Cosponsors added, S3712 [15MY] S. 3864 — A bill to amend the Public Health Service Act to provide for congenital Cytomegalovirus screening of newborns; to the Committee on Health, Education, Labor, and Pensions. By Mr. BLUMENTHAL (for himself, Mr. Marshall, and Mr. Murphy), S2212 [5MR] Cosponsors added, S3992 [5JN] S. 3865 — A bill to require rental car companies to allow customers to terminate a rental car agreement if they would otherwise be forced to rent an electric motor vehicle against there wishes; to the Committee on Commerce, Science, and Transportation. By Mr. COTTON (for himself and Mr. Cramer), S2213 [5MR] S. 3866 — A bill to require the imposition of additional duties with respect to imports of green energy goods that originate in the People’s Republic of China, and for other purposes; to the Committee on Finance. By Mr. HAWLEY, S2213 [5MR] S. 3867 — A bill to create livable communities through coordinated public investment and streamlined requirements; to the Committee on Finance. By Mr. MENENDEZ (for himself, Ms. Cortez Masto, Mr. Wyden, Mr. Padilla, Mr. Reed, and Mr. Blumenthal), S2213 [5MR] S. 3868 — A bill to impose a duty of $20,000 per motor vehicle produced in or by the People’s Republic of China; to the Committee on Finance. By Mr. RUBIO, S2213 [5MR] Cosponsors added, S3712 [15MY] S. 3869 — A bill to require vehicles comply with the rules of origin of the U.S.-Mexico-Canada Agreement in order to qualify for certain Federal programs; to the Committee on Finance. By Mr. RUBIO, S2213 [5MR] Cosponsors added, S3712 [15MY], S4056 [12JN] S. 3870 — A bill to amend the Infrastructure Investment and Jobs Act to expand eligibility for certain financial assistance for the acquisition of slip-on tanker units for wildland firefighting; to the Committee on Energy and Natural Resources. By Ms. CORTEZ MASTO, S2213 [5MR] S. 3871 — A bill to establish a whole-home repairs program for eligible homeowners and eligible landlords, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. FETTERMAN (for himself and Ms. Lummis), S2213 [5MR] S. 3872 — A bill to amend title 28, United States Code, to clarify that international organizations are not immune from the jurisdiction of the courts of the U.S. in certain cases related to terrorism; to the Committee on the Judiciary. By Mr. CRUZ (for himself, Mr. Braun, Mr. Hagerty, Mr. Schmitt, Mr. Rubio, Mr. Scott of Florida, Mr. Daines, and Mr. Barrasso), S2213 [5MR] S. 3873 — A bill to amend title 38, United States Code, to expand eligibility for Post-9/11 Educational Assistance to members of the National Guard who perform certain full-time duty, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. MORAN (for himself and Mr. Tester), S2213 [5MR] S. 3874 — A bill to impose sanctions with respect to foreign support for terrorist organizations Gaza and the West Bank, and for other purposes; to the Committee on Foreign Relations. By Mr. RUBIO (for himself and Ms. Rosen), S2213 [5MR] Cosponsors added, S2875 [18AP] Reported with amendment (no written report), S3503 [7MY] S. 3875 — A bill to amend the Federal Election Campaign Act of 1971 to provide further transparency for the use of content that is substantially generated by artificial intelligence in political advertisements by requiring such advertisements to include a statement within the contents of the advertisements if generative AI was used to generate any image, audio, or video footage in the advertisements, and for other purposes; to the Committee on Rules and Administration. By Ms. KLOBUCHAR (for herself and Ms. Murkowski), S2238 [6MR] Reported with amendment (no written report), S3710 [15MY] S. 3876 — A bill to direct the Secretary of State to establish a national registry of Korean American divided families, and for other purposes; to the Committee on Foreign Relations. By Mr. KAINE (for himself and Mr. Rubio), S2238 [6MR] Cosponsors added, S3756 [16MY], S3931 [3JN], S4154 [18JN], S4181 [20JN] S. 3877 — A bill to amend the Workforce Innovation and Opportunity Act to permit greater flexibility in carrying out incumbent worker training programs, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. PETERS (for himself, Mr. Budd, and Mr. Hickenlooper), S2238 [6MR] S. 3878 — A bill to establish a regional trade, investment, and people-to-people partnership of countries in the Western Hemisphere to stimulate growth and integration through viable long-term private sector development, and for other purposes; to the Committee on Finance. By Mr. CASSIDY (for himself and Mr. Bennet), S2238 [6MR] S. 3879 — A bill to require the Under Secretary of Commerce for Standards and Technology and the Administrator of National Oceanic and Atmospheric Administration to develop a standard methodology for identifying the country of origin of red snapper imported into the United States, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ (for himself, Mr. Tuberville, and Mrs. Britt), S2238 [6MR] S. 3880 — A bill to amend the Federal Assets Sale and Transfer Act of 2016 to make improvements to that Act, and for other purposes; to the Committee on Environment and Public Works. By Mr. CRAMER (for himself and Mr. Kelly), S2238 [6MR] Reported with amendment (no written report), S3855 [22MY] S. 3881 — A bill to provide for enhanced Federal, State, and local assistance in the enforcement of the immigration laws, to amend the Immigration and Nationality Act, to authorize appropriations to carry out the State Criminal Alien Assistance Program, and for other purposes; to the Committee on the Judiciary. By Mrs. BLACKBURN, S2238 [6MR] S. 3882 — A bill to amend title XIX of the Social Security Act to provide States with resources to support efforts to integrate or coordinate Medicare and Medicaid benefits for individuals that are eligible for both programs; to the Committee on Finance. By Mr. CASEY, S2238 [6MR] S. 3883 — A bill to appropriate funds for the Office for Civil Rights of the Department of Education; to the Committee on Appropriations. By Mr. CASEY (for himself, Mr. Fetterman, Ms. Rosen, Mrs. Gillibrand, Mr. Sanders, Ms. Butler, and Mr. Kaine), S2238 [6MR] Cosponsors added, S2470 [20MR], S3992 [5JN] S. 3884 — A bill to establish a grant pilot program to provide child care services for the minor children of law enforcement officers to accommodate the shift work and abnormal work hours of such officers, and to enhance recruitment and retention of such officers; to the Committee on Health, Education, Labor, and Pensions. By Mrs. GILLIBRAND (for herself and Mr. Tillis), S2238 [6MR] Cosponsors added, S3931 [3JN] S. 3885 — A bill to expand medical, employment, and other benefits for individuals serving as family caregivers for certain veterans, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. SINEMA (for herself and Mr. Moran), S2238 [6MR] S. 3886 — A bill to require the Secretary of Veterans Affairs to waive certain domestic content procurement preferences with respect to certain State home projects, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. RISCH (for himself, Mr. Boozman, Mr. Crapo, and Mr. Lee), S2238 [6MR] S. 3887 — A bill to amend title 18, United States Code, to increase the penalty for rioting; to the Committee on the Judiciary. By Mr. COTTON, S2238 [6MR] S. 3888 — A bill to mandate the use of artificial intelligence by Federal agencies to adapt to extreme weather, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. SCHATZ (for himself, Mr. Luján, Ms. Butler, and Mr. Welch), S2239 [6MR] S. 3889 — A bill to provide for the standardization, publication, and accessibility of data relating to public outdoor recreational use of Federal waterways, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ (for himself and Mr. King), S2239 [6MR] S. 3890 — A bill to prohibit certain off-post demonstrations; to the Committee on Armed Services. By Mr. COTTON, S2279 [7MR] S. 3891 — A bill to amend the Public Works and Economic Development Act of 1965 to update and expand Federal economic development investment in the economic recovery, resiliency, and competitiveness of communities, regions, and States across the United States, and for other purposes; to the Committee on Environment and Public Works. By Mr. CARPER (for himself, Mrs. Capito, Mr. Kelly, and Mr. Cramer), S2279 [7MR] Reported with amendment (no written report), S2364 [12MR] S. 3892 — A bill to amend titles XVIII and XIX of the Social Security Act to increase access to community health workers under the Medicare and Medicaid programs; to the Committee on Finance. By Mr. CASEY, S2279 [7MR] S. 3893 — A bill to amend the Food and Nutrition Act of 2008 to require the promulgation of cybersecurity and digital service regulations relating to the use of EBT cards under the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WYDEN (for himself, Mr. Fetterman, and Mr. Cassidy), S2279 [7MR] S. 3894 — A bill to prohibit the granting or renewing of security clearances to a person who has expressed support for a foreign terrorist organization, the Islamic Revolutionary Guard Corps, or any affiliate of such Corps, including Hamas and Hezbollah, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. COTTON, S2279 [7MR] S. 3895 — A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office to provide an inflation estimate with respect to legislation with a significant impact on the gross domestic product of the United States, and for other purposes; to the Committee on the Budget. By Mr. MANCHIN (for himself and Mr. Tillis), S2279 [7MR] S. 3896 — A bill to provide enhanced disaster unemployment assistance to victims of the Hawaii wildfires of 2023, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. SCHATZ (for himself and Ms. Hirono), S2330 [8MR] S. 3897 — A bill to require the Election Assistance Commission to develop voluntary guidelines for the administration of elections that address the use and risks of artificial intelligence technologies, and for other purposes; to the Committee on Rules and Administration. By Ms. KLOBUCHAR (for herself and Ms. Collins), S2346 [11MR] Reported with amendment (no written report), S3710 [15MY] Cosponsors added, S3931 [3JN] S. 3898 — A bill to amend title 49, United States Code, to permanently prohibit operations at Reagan Washington National Airport for air carriers that provide, or facilitate the provision of, transportation of any alien using the CBP One Mobile Application for the purposes of identification; to the Committee on Commerce, Science, and Transportation. By Mr. MARSHALL (for himself and Mr. Lee), S2346 [11MR] S. 3899 — A bill to direct the Administrator of the Environmental Protection Agency to provide for the generation of Renewable Identification Numbers under the renewable fuel program for electricity from renewable biomass, and for other purposes; to the Committee on Environment and Public Works. By Mr. KING (for himself and Mrs. Shaheen), S2346 [11MR] S. 3900 — A bill to prohibit no-knock warrants, and for other purposes; to the Committee on the Judiciary. By Mr. PAUL (for himself and Mr. Booker), S2346 [11MR] S. 3901 — A bill to provide employees with a minimum of 2 consecutive hours of paid leave in order to vote in Federal elections; to the Committee on Health, Education, Labor, and Pensions. By Ms. HIRONO (for herself, Ms. Butler, Mr. Casey, Mr. Durbin, Mr. Kaine, Mr. Padilla, Mr. Reed, Mr. Van Hollen, Ms. Warren, Mr. Welch, Mr. Whitehouse, and Mr. Wyden), S2346 [11MR] S. 3902 — A bill to amend the National Housing Act to authorize State-licensed appraisers to conduct appraisals in connection with mortgages insured by the FHA and to ensure compliance with the existing appraiser education and competency requirements, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. TESTER (for himself and Mr. Cramer), S2346 [11MR] S. 3903 — A bill to strengthen reporting requirements for United States assistance to Ukraine; to the Committee on Foreign Relations. By Mr. VANCE (for himself and Mr. Lee), S2346 [11MR] S. 3904 — A bill to establish a pilot program to improve the family self-sufficiency program, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. REED (for himself and Mrs. Britt), S2346 [11MR] S. 3905 — A bill to amend title I of the National Housing Act to increase the loan limits and clarify that property improvement loans may be used for construction of accessory dwelling units; to the Committee on Banking, Housing, and Urban Affairs. By Mr. REED (for himself and Ms. Lummis), S2346 [11MR] S. 3906 — A bill to set aside USDA rural housing funding for Indian Tribes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. WARREN, S2364 [12MR] S. 3907 — A bill to authorize the Secretary of Education to carry out a grant program to assist local educational agencies with ensuring that each elementary school and secondary school has at least one reading, literacy, or biliteracy specialist on staff; to the Committee on Health, Education, Labor, and Pensions. By Mr. HEINRICH, S2364 [12MR] S. 3908 — A bill to restrict United States voluntary and assessed contributions to the United Nations, and for other purposes; to the Committee on Foreign Relations. By Mr. RUBIO, S2364 [12MR] S. 3909 — A bill to require the Federal Communications Commission to auction spectrum in the band between 1.3 gigahertz and 13.2 gigahertz, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ (for himself, Mr. Thune, and Mrs. Blackburn), S2364 [12MR] S. 3910 — A bill to provide technical assistance and grants for faith-based organizations, institutions of higher education, and local governments to increase the supply of affordable rental housing, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BROWN, S2364 [12MR] S. 3911 — A bill to amend title 38, United States Code, to improve the methods by which the Secretary of Veterans Affairs conducts oversight of certain educational institutions, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. CORNYN (for himself and Mr. Padilla), S2364 [12MR] S. 3912 — A bill to protect election workers and polling places; to the Committee on Rules and Administration. By Mr. OSSOFF, S2364 [12MR] S. 3913 — A bill to authorize the Director of the Office of Foreign Assets Control of the Department of the Treasury to use a portion of the amounts seized through the enforcement of sanctions to recover the costs of such enforcement; to the Committee on Banking, Housing, and Urban Affairs. By Mr. RUBIO, S2364 [12MR] S. 3914 — A bill to increase the supply of, and lower rents for, affordable housing and to assess calculations of area median income for purposes of Federal low-income housing assistance, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mrs. GILLIBRAND, S2364 [12MR] S. 3915 — A bill to prohibit sanctuary jurisdictions from receiving community development block grants; to the Committee on Banking, Housing, and Urban Affairs. By Mr. VANCE (for himself and Mr. Hagerty), S2364 [12MR] S. 3916 — A bill protecting the right to vote in elections for Federal office, and for other purposes; to the Committee on Rules and Administration. By Mr. OSSOFF (for himself, Ms. Klobuchar, Mr. Warnock, Mr. Padilla, Mr. King, Mr. Merkley, and Mr. Wyden), S2364 [12MR] Cosponsors added, S2403 [14MR], S2441 [19MR] S. 3917 — A bill to require the Secretary of Commerce to reimpose duties on steel imported into the United States from Mexico, and for other purposes; to the Committee on Finance. By Mr. COTTON (for himself, Mr. Brown, Mr. Rubio, Mr. Casey, Mr. Scott of Florida, Mr. Budd, Ms. Warren, Mr. Braun, Mr. Vance, and Mr. Boozman), S2365 [12MR] S. 3918 — A bill to require the Federal Energy Regulatory Commission to establish a shared savings incentive to return a portion of the savings attributable to an investment in grid-enhancing technology to the developer of that grid-enhancing technology, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. WELCH (for himself and Mr. King), S2365 [12MR] S. 3919 — A bill to render State or local governments with certain bail and pretrial detention policies ineligible to receive funds under the Edward Byrne Memorial Justice Assistance Grant Program; to the Committee on the Judiciary. By Mrs. BLACKBURN (for herself and Mr. Cramer), S2365 [12MR] Cosponsors added, S2516 [21MR] S. 3920 — A bill to make permanent the authority to reimburse a member of the uniformed services for spouse relicensing and business costs following the relocation of the member; to the Committee on Armed Services . By Mr. OSSOFF (for himself and Mr. Schmitt), S2365 [12MR] S. 3921 — A bill to amend title XIX of the Social Security Act to provide a higher Federal matching rate for increased expenditures under Medicaid for behavioral health services (including those related to mental health and substance use), and for other purposes; to the Committee on Finance. By Ms. SMITH (for herself and Ms. Stabenow), S2365 [12MR] S. 3922 — A bill to require the Board of Governors of the Federal Reserve System and the Securities and Exchange Commission to issue an annual report to Congress projecting and accounting for the economic costs directly and indirectly caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. MERKLEY, S2365 [12MR] S. 3923 — A bill to provide for the effective use of immigration detainers to enhance public safety; to the Committee on the Judiciary. By Mr. TILLIS (for himself, Mr. Scott of South Carolina, Mr. Ricketts, Mr. Daines, Mr. Budd, Mr. Rounds, Mr. Cramer, Mr. Cotton, Mr. Cassidy, and Mr. Graham), S2365 [12MR] Cosponsors added, S2403 [14MR] S. 3924 — A bill to establish limitations on advanced payments for bus rolling stock, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. SMITH (for herself, Mr. Cramer, Mr. Fetterman, and Mrs. Britt), S2365 [12MR] S. 3925 — A bill to amend the Internal Revenue Code of 1986 to increase the low-income housing credit for projects designated to serve households with people with disabilities; to the Committee on Finance. By Mr. CASEY, S2365 [12MR] S. 3926 — A bill to amend the Federal Funding Accountability and Transparency Act of 2006 to ensure that other transaction agreements are reported to USAspending.gov, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. ERNST, S2365 [12MR] S. 3927 — A bill to provide a civil remedy for individuals harmed by sanctuary jurisdiction policies, and for other purposes; to the Committee on the Judiciary. By Mr. TILLIS (for himself, Mr. Budd, Mr. Scott of South Carolina, Mr. Ricketts, Mr. Daines, Mr. Cruz, Mr. Rounds, Mr. Cramer, Mr. Cotton, Mr. Marshall, Mr. Cassidy, and Mr. Graham), S2365 [12MR] Cosponsors added, S2403 [14MR] S. 3928 — A bill to increase the supply of affordable homes and expand housing options; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BROWN, S2365 [12MR] S. 3929 — A bill to prohibit the Secretary of Agriculture from taking certain proposed actions relating to a land management plan direction for old-growth forest conditions across the National Forest System; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BARRASSO (for himself, Ms. Lummis, Mr. Daines, and Mr. Risch), S2365 [12MR] Cosponsors added, S2403 [14MR], S2441 [19MR] S. 3930 — A bill to provide downpayment assistance to first-generation homebuyers to address multigenerational inequities in access to homeownership and to narrow and ultimately close the racial homeownership gap in the United States, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. WARNOCK (for himself, Ms. Butler, Mr. Brown, and Mr. Van Hollen), S2365 [12MR] Cosponsors added, S2403 [14MR], S2441 [19MR], S2470 [20MR] S. 3931 — A bill to preserve and protect multifamily housing properties assisted by the Secretary of Housing and Urban Development; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BROWN, S2365 [12MR] S. 3932 — A bill to prohibit the Secretary of Health and Human Services, the Secretary of Labor, and the Secretary of the Treasury from finalizing a rule proposing restrictions on short-term limited duration insurance, and to amend title XXVII of the Public Health Service Act to define such insurance; to the Committee on Health, Education, Labor, and Pensions. By Mr. KENNEDY, S2365 [12MR] S. 3933 — A bill to require the Secretary of Homeland Security to take into custody aliens who have been charged in the United States with theft, and for other purposes; to the Committee on the Judiciary. By Mrs. BRITT (for herself, Mr. Barrasso, Mrs. Blackburn, Mr. Boozman, Mr. Braun, Mr. Budd, Mrs. Capito, Mr. Cornyn, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Daines, Mrs. Fischer, Mr. Graham, Mr. Grassley, Mr. Hagerty, Mr. Hawley, Mr. Hoeven, Mr. Kennedy, Mr. Lee, Ms. Lummis, Mr. McConnell, Mr. Ricketts, Mr. Risch, Mr. Schmitt, Mr. Scott of Florida, Mr. Scott of South Carolina, Mr. Thune, Mr. Tillis, Mr. Tuberville, Mr. Wicker, Mr. Rounds, Mr. Lankford, and Mr. Moran), S2365 [12MR] Cosponsors added, S2403 [14MR], S2441 [19MR], S2470 [20MR], S2516 [21MR], S3655 [9MY] Objection is heard to request for consideration, S3868 [23MY] S. 3934 — A bill to require the Secretary of Health and Human Services to establish a demonstration project to increase access to biosimilar biological products under the Medicare program; to the Committee on Finance. By Mr. CORNYN (for himself and Mr. Bennet), S2400 [14MR] S. 3935 — A bill to prohibit the Secretary of Health and Human Services from finalizing, implementing, or enforcing the proposed rule, entitled ‘‘Safe and Appropriate Foster Care Placement Requirements for Titles IV–E and IV–B’’; to the Committee on Finance. By Mr. MARSHALL (for himself, Mrs. Blackburn, and Mrs. Hyde-Smith), S2400 [14MR] S. 3936 — A bill to require the Administrator of the National Aeronautics and Space Administration and the Administrator of the National Oceanic and Atmospheric Administration to seek to engage the authorities of Taiwan with respect to expanding cooperation on civilian space activities, and for other purposes; to the Committee on Foreign Relations. By Mr. SCHMITT (for himself and Ms. Duckworth), S2400 [14MR] S. 3937 — A bill to require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capital standards, to provide relief for de novo rural community banks, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mrs. HYDE–SMITH, S2400 [14MR] S. 3938 — A bill to designate the community-based outpatient clinic of the Department of Veterans Affairs in Lynchburg, Virginia, as the ‘‘Private First Class Desmond T. Doss VA Clinic’’; to the Committee on Veterans’ Affairs. By Mr. WARNER (for himself and Mr. Kaine), S2400 [14MR] S. 3939 — A bill to amend title XVIII of the Social Security Act to improve the way beneficiaries are assigned under the Medicare shared savings program by also basing such assignment on primary care services furnished by nurse practitioners, physician assistants, and clinical nurse specialists; to the Committee on Finance. By Mr. WHITEHOUSE (for himself and Mr. Barrasso), S2400 [14MR] S. 3940 — A bill to amend the Internal Revenue Code of 1986 to provide for a first-time homebuyer credit, and for other purposes; to the Committee on Finance. By Mr. WHITEHOUSE (for himself, Mr. Heinrich, Mr. Welch, Ms. Smith, Mr. Reed, Ms. Baldwin, and Ms. Rosen), S2400 [14MR] Cosponsors added, S2441 [19MR], S2741 [15AP] S. 3941 — A bill to repeal the wage requirements of the Davis-Bacon Act; to the Committee on Health, Education, Labor, and Pensions. By Mr. LEE (for himself, Mr. Budd, Mr. Cruz, and Mr. Scott of Florida), S2400 [14MR] S. 3942 — A bill to amend the Farm Security and Rural Investment Act of 2002 to include maple syrup under the seniors farmers’ market nutrition program; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WELCH (for himself, Ms. Collins, Mr. Schumer, Mr. Sanders, Mr. King, and Mrs. Gillibrand), S2400 [14MR] S. 3943 — A bill to require a plan to improve the cybersecurity and telecommunications of the U.S. Academic Research Fleet, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. PADILLA (for himself and Mr. Sullivan), S2400 [14MR] Cosponsors added, S2470 [20MR], S2741 [15AP], S3136 [1MY] S. 3944 — A bill to establish the William S. Knudsen Commission for American Defense-Industrial Mobilization, and for other purposes; to the Committee on Armed Services. By Mr. VANCE (for himself, Mr. Rubio, Mr. Schmitt, Mr. Hawley, and Mr. Cotton), S2400 [14MR] S. 3945 — A bill to restrict the Chinese Government from accessing United States capital markets and exchanges if it fails to comply with international laws relating to finance, trade, and commerce; to the Committee on Banking, Housing, and Urban Affairs. By Mr. VANCE, S2400 [14MR] S. 3946 — A bill to designate the facility of the United States Postal Service located at 1106 Main Street in Bastrop, Texas, as the ‘‘Sergeant Major Billy D. Waugh Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. CRUZ (for himself and Mr. Cornyn), S2400 [14MR] S. 3947 — A bill to amend the Fair Labor Standards Act of 1938 to reduce the standard workweek from 40 hours per week to 32 hours per week, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. SANDERS (for himself and Ms. Butler), S2400 [14MR] S. 3948 — A bill to amend the Defense Production Act of 1950 to better address certain transactions by foreign entities of concern, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. STABENOW (for herself and Mr. Peters), S2400 [14MR] S. 3949 — A bill to amend title V of the Public Health Service Act to ensure protections for lesbian, gay, bisexual, and transgender youth and their families; to the Committee on Health, Education, Labor, and Pensions. By Ms. BUTLER (for herself, Ms. Smith, Mr. Markey, Mr. Casey, Mr. Welch, Mr. Padilla, Mr. Merkley, Mr. Booker, and Ms. Baldwin), S2400 [14MR] S. 3950 — A bill to provide States with support to establish integrated care programs for individuals who are dually eligible for Medicare and Medicaid, and for other purposes; to the Committee on Finance. By Mr. CASSIDY (for himself, Mr. Carper, Mr. Cornyn, Mr. Warner, Mr. Scott of South Carolina, and Mr. Menendez), S2401 [14MR] S. 3951 — A bill to amend title XVIII of the Social Security Act to provide for adjustments to the Medicare part D cost-sharing reductions for low-income individuals; to the Committee on Finance. By Mr. CASEY, S2401 [14MR] S. 3952 — A bill to increase rates of college completion and reduce college costs by accelerating time to degree, aligning secondary and postsecondary education, and improving postsecondary credit transfer; to the Committee on Health, Education, Labor, and Pensions. By Ms. HASSAN (for herself and Mr. Young), S2401 [14MR] S. 3953 — A bill to make demonstration grants to eligible local educational agencies or consortia of eligible local educational agencies for the purpose of increasing the numbers of school nurses in public elementary schools and secondary schools; to the Committee on Health, Education, Labor, and Pensions. By Mr. TESTER (for himself, Mr. Welch, Mr. Merkley, and Mr. Peters), S2401 [14MR] Cosponsors added, S2708 [10AP], S2875 [18AP] S. 3954 — A bill to amend the Geothermal Steam Act of 1970 to promote timely exploration for geothermal resources under geothermal leases, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HEINRICH (for himself, Mr. Risch, Mr. Lee, and Ms. Cortez Masto), S2401 [14MR] Cosponsors added, S2791 [16AP] S. 3955 — A bill to require the heads of Federal agencies to submit to Congress an annual report regarding official time authorized under title 5, United States Code, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. ERNST, S2401 [14MR] Cosponsors added, S2669 [9AP] S. 3956 — A bill to include phosphate and potash on the final list of critical minerals of the Department of the Interior; to the Committee on Energy and Natural Resources. By Mr. TILLIS (for himself, Mr. Brown, Mr. Marshall, Mr. Ricketts, Mr. Scott of Florida, and Ms. Baldwin), S2401 [14MR] Cosponsors added, S2441 [19MR], S4154 [18JN] S. 3957 — A bill to require the Director of National Intelligence to develop a strategy to improve the sharing of information and intelligence on foreign adversary tactics and illicit activities affecting the ability of United States persons to compete in foreign jurisdictions on projects relating to energy generation and storage, and for other purposes; to the Select Committee on Intelligence. By Mr. WARNER (for himself, Mr. Rubio, Mr. Hickenlooper, Mr. Lankford, Mr. Ossoff, Mr. Cassidy, Mr. Van Hollen, and Mr. Cornyn), S2401 [14MR] Cosponsors added, S2598 [22MR] S. 3958 — A bill to require the Interagency Working Group on Toxic Exposure to conduct research on the diagnosis and treatment of health conditions of descendants of individuals exposed to toxic substances while serving as members of the Armed Forces, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. TESTER (for himself and Mr. Rubio), S2401 [14MR] Cosponsors added, S2669 [9AP] S. 3959 — A bill to require the Transportation Security Administration to streamline the enrollment processes for individuals applying for a Transportation Security Administration security threat assessment for certain programs, including the Transportation Worker Identification Credential and Hazardous Materials Endorsement Threat Assessment programs of the Administration, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. WICKER (for himself, Mr. King, Mrs. Fischer, and Mr. Tester), S2401 [14MR] Cosponsors added, S3781 [20MY], S3856 [22MY] S. 3960 — A bill to amend title 35, United States Code, to provide a good faith exception to the imposition of fines for false assertions and certifications, and for other purposes; to the Committee on the Judiciary. By Mr. COONS (for himself and Mr. Tillis), S2401 [14MR] Committee discharged. Passed Senate, S4198 [20JN] Text, S4198 [20JN] S. 3961 — A bill to amend the Foreign Intelligence Surveillance Act of 1978 to reform certain authorities and to provide greater transparency and oversight; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Mr. Lee, Ms. Hirono, Mr. Daines, Mr. Wyden, Ms. Lummis, Ms. Baldwin, Mr. Heinrich, Ms. Warren, Mr. Markey, Mr. Tester, Mr. Sanders, and Mr. Welch), S2401 [14MR] Text, S2404 [14MR] Cosponsors added, S2470 [20MR], S2646 [8AP] S. 3962 — A bill to provide for greater accountability in enhanced end-use monitoring, and for other purposes; to the Committee on Foreign Relations. By Mr. VANCE, S2401 [14MR] S. 3963 — A bill to clarify that noncommercial species found entirely within the borders of a single State are not in interstate commerce or subject to regulation under the Endangered Species Act of 1973 or any other provision of law enacted as an exercise of the power of Congress to regulate interstate commerce; to the Committee on Environment and Public Works. By Mr. LEE (for himself, Mr. Cruz, and Mr. Sullivan), S2401 [14MR] Cosponsors added, S2598 [22MR] S. 3964 — A bill to amend title 23, United States Code, with respect to the highway safety improvement program, and for other purposes; to the Committee on Environment and Public Works. By Mr. CARDIN (for himself, Ms. Baldwin, and Mr. Van Hollen), S2401 [14MR] Cosponsors added, S4020 [11JN], S4116 [17JN] S. 3965 — A bill to appropriate funds to U.S. Customs and Border Protection for the deployment of nonintrusive inspection technology at the southern land border of the United States; to the Committee on Appropriations. By Mr. OSSOFF, S2401 [14MR] S. 3966 — A bill to streamline the application of regulations relating to commercial space launch and reentry requirements and licensing of private remote sensing space systems, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CORNYN (for himself, Mr. Lujan, Mr. Kelly, Mr. Rubio, Ms. Sinema, and Mr. Scott of Florida), S2438 [19MR] S. 3967 — A bill to amend title XVIII of the Social Security Act to make permanent certain telehealth flexibilities under the Medicare program; to the Committee on Finance. By Mr. SCOTT of South Carolina (for himself, Mr. Schatz, Mrs. Blackburn, Ms. Smith, Mr. Sullivan, Mr. Warnock, Mr. Marshall, and Mr. King), S2438 [19MR] Cosponsors added, S3080 [30AP], S3504 [7MY], S3931 [3JN] S. 3968 — A bill to amend the Public Health Service Act to provide community-based training opportunities for medical students in rural areas and medically under-served communities, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. WICKER (for himself and Mr. Casey), S2439 [19MR] S. 3969 — A bill to amend the Uniform Code of Military Justice to expand the definition of aiding the enemy to include the provision of military education, military training, and tactical advice; to the Committee on Armed Services. By Mr. CORNYN (for himself and Mrs. Shaheen), S2439 [19MR] S. 3970 — A bill to amend title 38, United States Code, to ensure that the Secretary of Veterans Affairs repays members of the Armed Forces for certain contributions made by such members towards Post-9/11 Educational Assistance, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. CORNYN (for himself, Ms. Hassan, Mr. Tillis, and Ms. Sinema), S2439 [19MR] S. 3971 — A bill to amend the Small Business Act to require reporting on additional information with respect to small business concerns owned and controlled by women, qualified HUBZone small business concerns, and small business concerns owned and controlled by veterans, and for other purposes; to the Committee on Small Business and Entrepreneurship. By Mr. COONS (for himself and Mr. Kennedy), S2439 [19MR] Reported with amendment (no written report), S3883 [23MY] S. 3972 — A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office to provide to Congress information on payments from the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund, and for other purposes; to the Committee on the Budget. By Mr. CASSIDY (for himself, Mr. Manchin, and Mr. Braun), S2439 [19MR] S. 3973 — A bill to impose sanctions with respect to foreign persons that knowingly engage in political warfare on behalf of a foreign government or political party and to require a determination regarding the United Front Work Department of the Chinese Communist Party, and for other purposes; to the Committee on Foreign Relations. By Mr. COTTON, S2439 [19MR] S. 3974 — A bill to amend title II of the Social Security Act to require the Commissioner of Social Security to use the Consumer Price Index for Elderly Consumers for purposes of determining cost-of-living adjustments under titles II, VIII, and XVI of the Social Security Act, and for other purposes; to the Committee on Finance. By Mr. CASEY (for himself, Mr. Blumenthal, Mr. Welch, Mr. Fetterman, Mrs. Gillibrand, and Mr. Sanders), S2439 [19MR] S. 3975 — A bill to require companies to receive consent from consumers to having their data used to train an artificial intelligence system; to the Committee on Commerce, Science, and Transportation. By Mr. WELCH (for himself and Mr. Luján), S2439 [19MR] S. 3976 — A bill to amend the Internal Revenue Code of 1986 to reinstate the deduction for personal casualty losses as in effect prior to the enactment of Public Law 115–97 (commonly referred to as the ‘‘Tax Cuts and Jobs Act’’); to the Committee on Finance. By Ms. BALDWIN (for herself and Mr. Welch), S2439 [19MR] Cosponsors added, S2669 [9AP], S3080 [30AP] S. 3977 — A bill to amend title XVIII of the Social Security Act to protect beneficiaries with limb loss and other orthopedic conditions by providing access to appropriate, safe, effective, patient-centered orthotic and prosthetic care; to reduce fraud, waste, and abuse with respect to orthotics and prosthetics, and for other purposes; to the Committee on Finance. By Mr. WARNER (for himself, Mr. Daines, Ms. Klobuchar, and Mr. Cornyn), S2439 [19MR] Cosponsors added, S3655 [9MY] S. 3978 — A bill to amend the Higher Education Act of 1965 to prohibit an institution of higher education that employs unauthorized aliens from receiving funds from Federal student assistance or Federal institutional aid and to require institutions of higher education to participate in the E–Verify Program in order to be eligible to participate in any program authorized under title IV of such Act; to the Committee on Health, Education, Labor, and Pensions. By Mr. VANCE (for himself, Mr. Hawley, Mr. Cotton, Mr. Rubio, and Mr. Budd), S2439 [19MR] S. 3979 — A bill to amend title 38, United States Code, to make permanent and codify the pilot program for use of contract physicians for disability examinations, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. MORAN (for himself and Mr. King), S2439 [19MR] S. 3980 — A bill to award grants to local educational agencies to operate after school programs in certain areas with a high rate of juvenile crime; to the Committee on the Judiciary. By Mrs. BLACKBURN (for herself and Ms. Cortez Masto), S2439 [19MR] S. 3981 — A bill to amend the Public Health Service Act to authorize the Secretary of Health and Human Services to carry out a program of research, training, and investigation related to Down syndrome, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. HICKENLOOPER (for himself and Mr. Moran), S2439 [19MR] S. 3982 — A bill to amend the Agricultural Marketing Act of 1946 to establish the Expanding Access to Local Foods Program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. REED (for himself, Mr. Brown, Mr. Booker, Mr. Wyden, Ms. Butler, Mr. Whitehouse, Mr. King, Mr. Blumenthal, Ms. Smith, Mrs. Shaheen, Ms. Warren, Mr. Fetterman, and Mr. Welch), S2468 [20MR] Cosponsors added, S2708 [10AP], S2933 [19AP] S. 3983 — A bill to amend the Public Health Service Act to authorize a grant program to increase capacity for providing abortion services and other sexual and reproductive health care, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. HIRONO (for herself, Ms. Duckworth, Mr. Blumenthal, Mr. Merkley, Ms. Butler, Mr. Welch, Mr. Heinrich, Mr. Padilla, Ms. Warren, and Mr. Whitehouse), S2468 [20MR] Cosponsors added, S4020 [11JN] S. 3984 — A bill to amend the State Justice Institute Act of 1984 to authorize the State Justice Institute to provide awards to certain organizations to establish a State judicial threat intelligence and resource center; to the Committee on the Judiciary. By Mr. CORNYN (for himself, Mr. Coons, Mr. Moran, Mr. Whitehouse, and Mrs. Shaheen), S2468 [20MR] Cosponsors added, S2741 [15AP], S3886 [23MY], S3955 [4JN], S4020 [11JN], S4116 [17JN] Committee discharged. Passed Senate, S4059 [12JN] Text, S4059 [12JN] Message from the Senate (received June 17, 2024), H4111 [18JN] Held at the desk, H4111 [18JN] S. 3985 — A bill to amend the Colorado Wilderness Act of 1993 to add certain land to the Sarvis Creek Wilderness, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HICKENLOOPER (for himself and Mr. Bennet), S2468 [20MR] S. 3986 — A bill to establish a private right of action against a person who sends unsolicited visual depictions of sexually explicit conduct; to the Committee on the Judiciary. By Mr. SCHATZ (for himself and Mr. Daines), S2468 [20MR] S. 3987 — A bill to protect stateless persons in the United States, and for other purposes; to the Committee on the Judiciary. By Mr. CARDIN (for himself, Mr. Durbin, Mr. Padilla, Ms. Hirono, Mr. Welch, Mr. Markey, Ms. Warren, and Mr. Wyden), S2468 [20MR] S. 3988 — A bill to amend the Internal Revenue Code of 1986 to modify rules for grantor trusts; to the Committee on Finance. By Mr. WYDEN (for himself and Mr. King), S2468 [20MR] S. 3989 — A bill to prohibit defense contracting with companies that employ lobbyists who represent Chinese military companies or human rights abusers, and for other purposes; to the Committee on Armed Services. By Mr. RUBIO, S2468 [20MR] Cosponsors added, S3816 [21MY] S. 3990 — A bill to provide subsidized summer and year-round employment for youth who face systemic barriers to employment and viable career options and to assist local community partnerships in improving high school graduation and youth employment rates, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE (for himself and Ms. Butler), S2468 [20MR] Cosponsors added, S3756 [16MY] S. 3991 — A bill to expand the scope of the Do Not Call rules under the Telephone Consumer Protection Act to include all telephone subscribers , and to expand the private right of action for calls in violation of those rules; to the Committee on Commerce, Science, and Transportation. By Mr. DURBIN (for himself, Mr. Markey, Mr. King, Ms. Smith, Mr. Welch, Mr. Sanders, Ms. Hirono, and Ms. Duckworth), S2468 [20MR] Text, S2471 [20MR] Cosponsors added, S2598 [22MR], S3931 [3JN] S. 3992 — A bill to prohibit the Administrator of the Small Business Administration from directly making loans under the 7(a) loan program, and for other purposes; to the Committee on Small Business and Entrepreneurship. By Mr. SCOTT of South Carolina (for himself, Mr. Kennedy, Mr. Risch, Mr. Cramer, Mr. Grassley, Mr. Daines, Mr. Lankford, Ms. Ernst, Mr. Cornyn, Mr. Budd, Mr. Cotton, Mr. Scott of Florida, Mr. Braun, and Mr. Crapo), S2468 [20MR] Cosponsors added, S2516 [21MR], S2646 [8AP] S. 3993 — A bill to require the Bureau of Prisons to issue identification documents to prisoners being released from Federal custody, and for other purposes; to the Committee on the Judiciary. By Mr. WARNER (for himself and Mr. Tillis), S2468 [20MR] S. 3994 — A bill to authorize and encourage the United States Agency for International Development to pursue a model of locally led development and humanitarian response and expanded engagement with local partners and to increase its local partner base; to the Committee on Foreign Relations. By Mr. COONS (for himself, Ms. Ernst, Mr. Kaine, and Mr. Ricketts), S2468 [20MR] S. 3995 — A bill to authorize the Secretary of Education to award grants to create evidence-based student success programs designed to increase participation, retention, and completion rates of high-need students; to the Committee on Health, Education, Labor, and Pensions. By Mr. HEINRICH, S2468 [20MR] S. 3996 — A bill to enhance the work of the North Pacific Research Board; to the Committee on Commerce, Science, and Transportation. By Mr. SULLIVAN (for himself and Ms. Murkowski), S2468 [20MR] S. 3997 — A bill to prioritize funding for an expanded and sustained national investment in basic science research; to the Committee on Health, Education, Labor, and Pensions. By Mr. DURBIN (for himself, Mr. Brown, Ms. Duckworth, Mr. Padilla, Mr. Schatz, Mr. Van Hollen, and Mr. Welch), S2468 [20MR] Text, S2471 [20MR] Cosponsors added, S2598 [22MR] S. 3998 — A bill to provide for the permanent appointment of certain temporary district judgeships; to the Committee on the Judiciary. By Mr. CRUZ (for himself, Ms. Hirono, Mrs. Britt, Mr. Padilla, Ms. Butler, Mr. Rubio, Mr. Scott of Florida, Mr. Schatz, Mr. Hawley, Mr. Schmitt, Mr. Heinrich, Mr. Luján, Mr. Tillis, Mr. Budd, Mr. Cornyn, Mr. Graham, Mr. Durbin, and Mr. Marshall), S2468 [20MR] Cosponsors added, S2646 [8AP], S2933 [19AP] Committee discharged. Passed Senate, S2928 [19AP] Text, S2929 [19AP] Message from the Senate (received April 23, 2024), H2631 [26AP] Held at the desk, H2631 [26AP] S. 3999 — A bill to require mandatory review of performance improvement plans during tenure and promotion appraisal process; to the Committee on Foreign Relations. By Mr. RUBIO, S2468 [20MR] S. 4000 — A bill to reaffirm the applicability of the Indian Reorganization Act to the Lytton Rancheria of California, and for other purposes; to the Committee on Indian Affairs. By Mr. PADILLA, S2468 [20MR] S. 4001 — A bill to establish a commission to study the potential transfer of the Weitzman National Museum of American Jewish History to the Smithsonian Institution, and for other purposes; to the Committee on Rules and Administration. By Mr. CASEY (for himself, Mr. Crapo, Mr. Fetterman, Ms. Collins, and Ms. Rosen), S2468 [20MR] Cosponsors added, S2669 [9AP], S3000 [23AP], S3080 [30AP], S3655 [9MY], S4020 [11JN] S. 4002 — A bill to amend the Richard B. Russell National School Lunch Act to improve the child and adult care food program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. CASEY (for himself, Mr. Blumenthal, Mr. Fetterman, Mr. Reed, and Mr. Sanders), S2468 [20MR] Cosponsors added, S2516 [21MR], S2720 [11AP] S. 4003 — A bill to require employers to provide paid annual leave to employees, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. SANDERS (for himself and Mr. Padilla), S2468 [20MR] Cosponsors added, S3318 [2MY] S. 4004 — A bill to amend the Horse Protection Act to designate additional unlawful acts under the Act, strengthen penalties for violations of the Act, improve Department of Agriculture enforcement of the Act, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRAPO (for himself, Mr. Warner, Mr. Daines, Mr. Kaine, Ms. Collins, Ms. Baldwin, Mr. Bennet, Mr. Blumenthal, Mr. Booker, Mr. Brown, Ms. Butler, Ms. Cantwell, Mr. Cardin, Mr. Casey, Mr. Coons, Ms. Cortez Masto, Ms. Duckworth, Mr. Durbin, Mr. Fetterman, Mrs. Gillibrand, Ms. Hassan, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. King, Ms. Klobuchar, Mr. Luján, Mr. Markey, Mr. Menendez, Mr. Merkley, Mr. Murphy, Mrs. Murray, Mr. Ossoff, Mr. Padilla, Mr. Peters, Mr. Reed, Ms. Rosen, Mr. Sanders, Mr. Schatz, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Van Hollen, Mr. Warnock, Ms. Warren, Mr. Welch, Mr. Whitehouse, Mr. Wyden, and Mr. Schumer), S2468 [20MR] Cosponsors added, S2720 [11AP], S2742 [15AP] S. 4005 — A bill to amend the Internal Revenue Code of 1986 to allow an investment credit for certain domestic infant formula manufacturing projects and to allow a domestic production credit for certain infant formula; to the Committee on Finance. By Mr. CASEY (for himself and Mr. Heinrich), S2469 [20MR] S. 4006 — A bill to reauthorize programs of the Economic Development Administration, and for other purposes; to the Committee on Environment and Public Works. By Ms. CORTEZ MASTO (for herself and Mr. Kelly), S2469 [20MR] S. 4007 — A bill to direct the Attorney General to study issues relating to human trafficking, and for other purposes; to the Committee on the Judiciary. By Mrs. GILLIBRAND (for herself, Mr. Rubio, and Mr. Hawley), S2469 [20MR] S. 4008 — A bill to authorize workforce development innovation grants for the implementation, expansion, and evaluation of evidence-based workforce programs, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BENNET, S2469 [20MR] S. 4009 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to offer annual preventative health evaluations to veterans with a spinal cord injury or disorder and increase access to assistive technologies, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. MORAN (for himself and Mr. Tester), S2514 [21MR] S. 4010 — A bill to establish radiofrequency licensing authority for certain operations involving certain earth stations and gateway stations, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ (for himself and Ms. Rosen), S2514 [21MR] S. 4011 — A bill to amend the Internal Revenue Code of 1986 to end the tax-free treatment of certain corporate reorganizations that involve large corporations; to the Committee on Finance. By Mr. WHITEHOUSE (for himself and Mr. Vance), S2514 [21MR] S. 4012 — A bill to provide economic empowerment opportunities in the United States through the modernization of public housing, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. SANDERS (for himself, Ms. Warren, Mr. Markey, Mr. Welch, Mr. Merkley, Mr. Padilla, Mr. Blumenthal, and Mr. Booker), S2514 [21MR] S. 4013 — A bill to amend the Public Health Service Act to establish the Firefighter PFAS Injury Compensation Program, and for other purposes; to the Committee on Finance. By Mr. BOOKER, S2514 [21MR] S. 4014 — A bill to amend the Internal Revenue Code of 1986 to provide that income received by a regulated investment company from precious metals shall be treated as qualifying income; to the Committee on Finance. By Ms. CORTEZ MASTO, S2514 [21MR] S. 4015 — A bill to temporarily suspend duties on imports of titanium sponge, and for other purposes; to the Committee on Finance. By Ms. CORTEZ MASTO (for herself, Mrs. Blackburn, Mrs. Capito, Mr. Manchin, and Mr. Tillis), S2514 [21MR] Cosponsors added, S3080 [30AP] S. 4016 — A bill to amend the Boulder Canyon Project Act to authorize the Secretary of the Interior to expend amounts in the Colorado River Dam fund, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. SINEMA (for herself, Ms. Cortez Masto, Mr. Kelly, Ms. Rosen, Mr. Padilla, and Ms. Butler), S2514 [21MR] S. 4017 — A bill to amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes; to the Committee on Finance. By Ms. WARREN (for herself, Mr. Sanders, Mr. Whitehouse, Mr. Merkley, Mr. Schatz, Mr. Markey, Ms. Hirono, and Mr. Welch), S2514 [21MR] S. 4018 — A bill to amend the Agriculture Improvement Act of 2018 to reauthorize the Commission on Farm Transitions-Needs for 2050, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Ms. BALDWIN (for herself and Mr. Braun), S2514 [21MR] S. 4019 — A bill to require the Secretary of Agriculture to provide regular updates to Livestock Indemnity Program payment rates to reflect market prices, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. ROUNDS (for himself and Ms. Klobuchar), S2514 [21MR] Cosponsors added, S3992 [5JN] S. 4020 — A bill to amend the Energy Policy and Conservation Act to prohibit the export or sale of petroleum products from the Strategic Petroleum Reserve to certain entities, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. FETTERMAN (for himself, Ms. Ernst, Mr. Casey, Mr. Brown, and Mr. Cotton), S2514 [21MR] S. 4021 — A bill to place restrictions on the official display of flags, seals, or emblems other than the United States flag; to the Committee on the Judiciary. By Mr. RUBIO, S2514 [21MR] S. 4022 — A bill to amend the Neotropical Migratory Bird Conservation Act to make improvements to that Act, and for other purposes; to the Committee on Environment and Public Works. By Mr. CARDIN (for himself and Mr. Boozman), S2514 [21MR] S. 4023 — A bill to further protect patients and improve the accuracy of provider directory information by eliminating ghost networks; to the Committee on Health, Education, Labor, and Pensions. By Ms. SMITH (for herself and Mr. Wyden), S2514 [21MR] S. 4024 — A bill to amend the Homeland Security Act of 2002 to enable secure and trustworthy technology through other transaction contracting authority; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Daines), S2514 [21MR] S. 4025 — A bill to include the identification of countries that are significant sources of xylazine in the annual International Narcotics Control Strategy Report; to the Committee on Foreign Relations. By Mr. CRUZ (for himself, Mr. Kaine, Mr. Hagerty, Mr. Rubio, Mr. Merkley, Mr. Coons, and Mr. Van Hollen), S2514 [21MR] S. 4026 — A bill to require a report on the state of economic integration between the United States and the People’s Republic of China and the risks of that integration to the national security of the United States; to the Committee on Finance. By Mr. ROMNEY (for himself, Ms. Cortez Masto, Mr. Lankford, Mr. Brown, Mr. Cornyn, and Mr. Young), S2514 [21MR] S. 4027 — A bill to amend the Federal Power Act to authorize the Federal Energy Regulatory Commission to issue permits for the construction and modification of national interest high-impact transmission facilities, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HICKENLOOPER, S2514 [21MR] S. 4028 — A bill to increase the participation of historically underrepresented demographic groups in science, technology, engineering, and mathematics education and industry; to the Committee on Health, Education, Labor, and Pensions. By Ms. HIRONO (for herself, Mr. Padilla, Mr. Van Hollen, Mr. Durbin, Ms. Klobuchar, Mr. Casey, Ms. Cortez Masto, Ms. Duckworth, Ms. Butler, Mr. Brown, and Ms. Rosen), S2514 [21MR] S. 4029 — A bill to prohibit the Department of Defense from offering services through, or maintaining a business relationship with, Tutor.com; to the Committee on Armed Services. By Mr. COTTON, S2514 [21MR] S. 4030 — A bill to reauthorize the recovery housing program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. COONS (for himself and Mrs. Capito), S2514 [21MR] S. 4031 — A bill to authorize the Administrator of the Health Resources and Services Administration to award grants to expand or create health care provider pipeline programs; to the Committee on Health, Education, Labor, and Pensions. By Mr. HEINRICH (for himself and Mr. Casey), S2514 [21MR] S. 4032 — A bill to authorize magistrate judges to issue arrest warrants for certain criminal aliens; to the Committee on the Judiciary. By Mr. MURPHY (for himself, Mr. Brown, Ms. Baldwin, Mr. King, Mr. Casey, Mr. Kaine, and Ms. Sinema), S2514 [21MR] Cosponsors added, S2598 [22MR], S3000 [23AP] S. 4033 — A bill to amend the Animal Welfare Act to strengthen enforcement with respect to violations of that Act, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BLUMENTHAL (for himself and Mr. Scott of Florida), S2514 [21MR] S. 4034 — A bill to withhold certain United Nations funding until the United Nations Human Rights Council mandates a body to investigate human rights abuses in the People’s Republic of China, and for other purposes; to the Committee on Foreign Relations. By Mr. WICKER (for himself, Mrs. Blackburn, Mr. Boozman, Mr. Braun, Mrs. Hyde-Smith, Mr. Rubio, Mr. Scott of Florida, and Mr. Scott of South Carolina), S2514 [21MR] S. 4035 — A bill to require the Director of the Office of Personnel Management to take certain actions with respect to the health insurance program carried out under chapter 89 of title 5, United States Code, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. SCOTT of Florida (for himself and Mr. Carper), S2514 [21MR] S. 4036 — A bill to establish a Government Spending Oversight Committee within the Council of the Inspectors General on Integrity and Efficiency, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Romney), S2514 [21MR] Cosponsors added, S3080 [30AP] S. 4037 — A bill to amend title 18, United States Code, to modify delayed notice requirements, and for other purposes; to the Committee on the Judiciary. By Mr. COONS (for himself and Mr. Lee), S2515 [21MR] S. 4038 — A bill to amend the Fair Labor Standards Act of 1938 to strengthen the provisions relating to child labor, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. LUJÁN, S2515 [21MR] Cosponsors added, S3504 [7MY] S. 4039 — A bill to establish the Federal Labor-Management Partnership Council, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. SCHATZ (for himself, Mr. Fetterman, Mr. Van Hollen, Ms. Stabenow, and Ms. Warren), S2515 [21MR] Cosponsors added, S2599 [22MR] S. 4040 — A bill to establish a new nonimmigrant visa for mobile entertainment workers; to the Committee on the Judiciary. By Mr. TILLIS (for himself and Ms. Klobuchar), S2515 [21MR] S. 4041 — A bill to support local educational agencies in addressing the student mental health crisis; to the Committee on Health, Education, Labor, and Pensions. By Mr. CORNYN (for himself, Ms. Sinema, Mr. Tillis, Mr. Tester, and Ms. Hassan), S2515 [21MR] S. 4042 — A bill to amend title 44, United States Code, to reform the management of Federal records, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Cornyn), S2515 [21MR] S. 4043 — A bill to amend title 5, United States Code, to make executive agency telework policies transparent, to track executive agency use of telework, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Ms. Ernst), S2515 [21MR] S. 4044 — A bill to amend title 10, United States Code, to provide for the consideration of the human rights records of recipients of support of special operations to combat terrorism, and for other purposes; to the Committee on Foreign Relations. By Mr. VAN HOLLEN (for himself and Mr. Durbin), S2515 [21MR] S. 4045 — A bill to require a study on public health impacts as a consequence of the February 3, 2023, train derailment in East Palestine, Ohio; to the Committee on Health, Education, Labor, and Pensions. By Mr. VANCE (for himself, Mr. Brown, Mr. Fetterman, and Mr. Casey), S2515 [21MR] Reported with amendment (no written report), S4152 [18JN] S. 4046 — A bill to amend title 38, United States Code, to modify authorities relating to the collective bargaining of employees in the Veterans Health Administration, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. BROWN (for himself, Mr. Padilla, Ms. Warren, Mr. Durbin, Mr. Blumenthal, Mr. Sanders, Mrs. Murray, Mr. Warnock, Ms. Hirono, Mr. Van Hollen, Mr. Whitehouse, Ms. Butler, Mr. Cardin, Mr. Welch, and Mr. Markey), S2515 [21MR] Cosponsors added, S2599 [22MR], S2742 [15AP], S3000 [23AP], S3136 [1MY] S. 4047 — A bill to increase, effective as of December 1, 2024, the rates of compensation for veterans with service-connected disabilities and the rates of dependency and indemnity compensation for the survivors of certain disabled veterans, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. TESTER (for himself, Mr. Moran, Mr. Blumenthal, Mr. Cassidy, Ms. Hirono, Mr. Cramer, Ms. Sinema, Mr. Boozman, Mr. King, Mr. Tillis, Mrs. Murray, Mr. Rounds, Mr. Sanders, and Mr. Brown), S2515 [21MR] Cosponsors added, S2875 [18AP], S3687 [14MY], S3712 [15MY] S. 4048 — A bill to reauthorize the North American Wetlands Conservation Act; to the Committee on Environment and Public Works. By Mr. HEINRICH (for himself, Mr. Kennedy, Mr. Coons, Mr. Tillis, Ms. Stabenow, Ms. Collins, Mr. Cardin, Mr. Boozman, Ms. Klobuchar, Mr. Crapo, Ms. Smith, Mr. Tester, and Mr. Van Hollen), S2515 [21MR] S. 4049 — A bill to appropriate more funds for the Federal Communication Commission’s ‘‘rip and replace’’ program, to require a spectrum auction, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. DAINES (for himself, Mr. Wicker, and Ms. Lummis), S2515 [21MR] S. 4050 — A bill to extend the deadline to commence construction of certain hydroelectric projects on the Red River. By Mr. CASSIDY (for himself and Mr. Kennedy), S2515 [21MR] Passed Senate, S2552 [21MR] Text, S2552 [21MR] Message from the Senate (received March 23, 2024), H2117 [26MR] Held at the desk, H2117 [26MR] S. 4051 — A bill to prohibit transportation of any alien using certain methods of identification, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LEE (for himself, Mrs. Blackburn, Mr. Braun, Mr. Marshall, Mr. Scott of Florida, and Mr. Thune), S2596 [22MR] Cosponsors added, S2720 [11AP], S2742 [15AP], S2875 [18AP], S3080 [30AP], S3816 [21MY] S. 4052 — A bill to direct the United States Postal Service to designate a single, unique ZIP Code for Scotland, Connecticut; to the Committee on Homeland Security and Governmental Affairs. By Mr. MURPHY, S2596 [22MR] Cosponsors added, S3318 [2MY] S. 4053 — A bill to prohibit the sale, lease, or loan of used motor vehicles with open recalls to consumers by auto dealers; to the Committee on Commerce, Science, and Transportation. By Mr. BLUMENTHAL (for himself, Mr. Markey, and Ms. Warren), S2596 [22MR] S. 4054 — A bill to require entities to meet minimum cybersecurity standards to be eligible for Medicare accelerated and advance payment programs if the reason for the need for such payments is due to a cybersecurity incident; to the Committee on Finance. By Mr. WARNER, S2596 [22MR] S. 4055 — A bill to provide for a pilot program to improve contracting outcomes, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Lankford), S2596 [22MR] S. 4056 — A bill to reduce enteric methane emissions, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BENNET (for himself, Mr. Crapo, Ms. Baldwin, and Mr. Moran), S2596 [22MR] S. 4057 — A bill to amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, and for other purposes; to the Committee on Finance. By Mr. COONS (for himself, Mr. Rounds, Mr. Wyden, Mr. Tillis, Mr. Cardin, and Mr. Cassidy), S2596 [22MR] Cosponsors added, S2791 [16AP] S. 4058 — A bill to require that the regulations related to SAVE Plan shall have the force and effect of enacted law; to the Committee on Health, Education, Labor, and Pensions. By Mr. MERKLEY (for himself, Mr. Booker, Mr. Casey, Mrs. Gillibrand, Mr. Wyden, Ms. Stabenow, Mr. Blumenthal, Mr. Welch, Ms. Hirono, Ms. Duckworth, Ms. Butler, Ms. Smith, Mr. Van Hollen, and Mr. Padilla), S2596 [22MR] S. 4059 — A bill to require the Secretary of the Treasury to mint coins to honor and memorialize the tragedy of the Sultana steamboat explosion of 1865; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BOOZMAN (for himself and Mr. Cotton), S2597 [22MR] S. 4060 — A bill to improve maternal health policies in correctional facilities, and for other purposes; to the Committee on the Judiciary. By Mr. BOOKER (for himself, Mr. Durbin, and Ms. Hirono), S2597 [22MR] S. 4061 — A bill to require the Secretary of Veterans Affairs to maintain a toll-free telephone helpline for veterans and other eligible individuals to use to obtain information about the benefits and services provided by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. ROSEN (for herself and Mrs. Fischer), S2597 [22MR] S. 4062 — A bill to establish a pilot program to assess the use of technology to speed up and enhance the cargo inspection process at land ports of entry along the border; to the Committee on Homeland Security and Governmental Affairs. By Mr. CORNYN (for himself and Ms. Hassan), S2597 [22MR] S. 4063 — A bill to establish a State public option through Medicaid to provide Americans with the choice of a high-quality, low-cost health insurance plan; to the Committee on Finance. By Mr. SCHATZ (for himself, Mr. Luján, Mr. Blumenthal, Mr. Booker, Mr. Merkley, Ms. Klobuchar, Mr. Heinrich, Mr. Reed, Mr. Welch, Ms. Smith, Ms. Hirono, Mrs. Shaheen, Mr. Murphy, Mr. Markey, Ms. Rosen, Mr. Whitehouse, and Ms. Warren), S2597 [22MR] Cosponsors added, S3318 [2MY] S. 4064 — A bill to amend section 50905 of title 51, United States Code, to extend and modify provisions relating to license applications and requirements for commercial space launch activities, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. SCHMITT (for himself and Ms. Sinema), S2597 [22MR] S. 4065 — A bill to prohibit discrimination in health care and require the provision of equitable health care, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. PADILLA (for himself and Mr. Booker), S2597 [22MR] S. 4066 — A bill to improve Federal technology procurement, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Cruz), S2597 [22MR] S. 4067 — A bill to provide for an annual report on the prosecution activities of the Coordinator for Caribbean Firearms Prosecutions of the Department of Justice; to the Committee on the Judiciary. By Mr. MURPHY (for himself and Mr. Kaine), S2597 [22MR] S. 4068 — A bill to amend the Internal Revenue Code of 1986 to establish a business tax credit for the purchase of zero-emission electric lawn, garden, and landscape equipment, and for other purposes; to the Committee on Finance. By Mr. HEINRICH (for himself and Ms. Butler), S2597 [22MR] S. 4069 — A bill to amend the Immigration and Nationality Act to provide for terms and conditions for nonimmigrant workers performing agricultural labor or services, and for other purposes; to the Committee on Finance. By Mr. BENNET (for himself, Ms. Stabenow, Ms. Klobuchar, Mr. Fetterman, Mr. Blumenthal, Mr. Durbin, Mrs. Gillibrand, Mr. Welch, and Mr. Hickenlooper), S2597 [22MR] S. 4070 — A bill to amend the Clean Air Act to modify the definition of ‘‘small refinery’’ for purposes of the Renewable Fuel Program, and for other purposes; to the Committee on Environment and Public Works. By Mr. TESTER (for himself and Mr. Young), S2597 [22MR] S. 4071 — A bill to establish an Office of Colonias and Farmworker Initiatives within the Department of Agriculture, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. HEINRICH, S2597 [22MR] Cosponsors added, S2791 [16AP] S. 4072 — A bill to prohibit the use of funds to implement, administer, or enforce certain rules of the Environmental Protection Agency. By Mr. CRAPO, S2597 [22MR] Placed on the calendar, S2592 [22MR] Cosponsors added, S2669 [9AP], S2708 [10AP], S2720 [11AP], S2791 [16AP], S2875 [18AP] Motion to proceed considered, S2703 [10AP], S2715 [11AP], S2733 [15AP] Motion to proceed agreed to, S2752 [15AP] Debated, S2838 [18AP] Failed of passage, S2846 [18AP] S. 4073 — A bill to prohibit the use of funds to waive certain sanctions with respect to Iran; to the Committee on Banking, Housing, and Urban Affairs. By Mr. CRUZ, S2597 [22MR] S. 4074 — A bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to approve interstate commerce carrier apprenticeship programs for purposes of veterans educational assistance, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. TESTER (for himself and Mr. Cassidy), S2645 [8AP] Cosponsors added, S3856 [22MY] S. 4075 — A bill to prohibit payment card networks and covered entities from requiring the use of or assigning merchant category codes that distinguish a firearms retailer from a general merchandise retailer or sporting goods retailer, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. HAGERTY, S2645 [8AP] Cosponsors added, S2933 [19AP], S3000 [23AP], S3932 [3JN], S3956 [4JN], S4056 [12JN], S4086 [13JN], S4154 [18JN] S. 4076 — A bill to designate the facility of the United States Postal Service located at 1077 River Road, Suite 1, in Washington Crossing, Pennsylvania, as the ‘‘Susan C. Barnhart Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. CASEY (for himself and Mr. Fetterman), S2645 [8AP] S. 4077 — A bill to designate the facility of the United States Postal Service located at 180 Steuart Street in San Francisco, California, as the ‘‘Dianne Feinstein Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. PADILLA (for himself and Ms. Butler), S2645 [8AP] S. 4078 — A bill to amend title XI of the Social Security Act to require the Center for Medicare and Medicaid Innovation to test a model to improve access to specialty health services for certain Medicare and Medicaid beneficiaries; to the Committee on Finance. By Mr. MULLIN (for himself, Ms. Sinema, and Mr. Tillis), S2666 [9AP] S. 4079 — A bill to improve obstetric emergency care; to the Committee on Health, Education, Labor, and Pensions. By Ms. HASSAN (for herself, Ms. Collins, Mrs. Britt, and Ms. Smith), S2666 [9AP] S. 4080 — A bill to require the Secretary of Energy to conduct a study and submit a report on national resource adequacy, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. BRAUN (for himself and Mr. Scott of Florida), S2666 [9AP] S. 4081 — A bill to amend the Federal Crop Insurance Act to provide premium support for certain plans of insurance, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. HOEVEN (for himself, Mr. Boozman, Ms. Ernst, Mrs. Fischer, Mr. Grassley, Mrs. Hyde-Smith, and Mr. Marshall), S2666 [9AP] Cosponsors added, S2829 [17AP] S. 4082 — A bill to amend the Tariff Act of 1930 to increase accountability relating to articles receiving exemptions from duties for de minimis entries and to require regulations on enhanced data collection with respect to such entries, and for other purposes; to the Committee on Finance. By Mr. BRAUN (for himself and Ms. Baldwin), S2666 [9AP] S. 4083 — A bill to amend the Fairness to Contact Lens Consumers Act to modernize the verification of contact lens prescriptions, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. DUCKWORTH (for herself and Mr. Boozman), S2666 [9AP] S. 4084 — A bill to amend the Public Works and Economic Development Act of 1965 to authorize the Secretary of Commerce to make grants to professional nonprofit theaters for the purposes of supporting operations, employment, and economic development; to the Committee on Environment and Public Works. By Mr. WELCH (for himself, Mr. Fetterman, and Mr. Reed), S2666 [9AP] Cosponsors added, S2791 [16AP], S3856 [22MY] S. 4085 — A bill to establish the Export Enforcement Coordination Center in the Department of Homeland Security, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. ROMNEY (for himself and Ms. Hassan), S2666 [9AP] S. 4086 — A bill to authorize the confiscation and repurposing of blocked assets of the Central Bank of the Russian Federation; to the Committee on Banking, Housing, and Urban Affairs. By Mr. DAINES (for himself and Mr. Cramer), S2666 [9AP] S. 4087 — A bill to amend titles XVIII and XIX of the Social Security Act to prohibit skilled nursing facilities and nursing facilities from using pre-dispute arbitration agreements with respect to residents of those facilities under the Medicare and Medicaid programs, and for other purposes; to the Committee on Finance. By Mr. BLUMENTHAL (for himself and Ms. Hirono), S2666 [9AP] S. 4088 — A bill to authorize the Secretary of Health and Human Services to award grants for career support for a skilled, internationally educated health care workforce; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE, S2666 [9AP] S. 4089 — A bill to enhance fraud prevention, improve recovery of improper payments, and for other purposes; to the Committee on the Judiciary. By Mr. PETERS (for himself, Mr. Durbin, and Mr. Wyden), S2666 [9AP] S. 4090 — A bill to withhold Federal funding from any college or university that employs illegal aliens on campus; to the Committee on Health, Education, Labor, and Pensions. By Mrs. BLACKBURN (for herself, Mr. Braun, Mr. Hawley, and Mr. Cotton), S2666 [9AP] S. 4091 — A bill to strengthen Federal efforts to counter antisemitism in the United States; to the Committee on the Judiciary. By Ms. ROSEN (for herself and Mr. Lankford), S2666 [9AP] Cosponsors added, S3080 [30AP], S3318 [2MY], S3598 [8MY], S3687 [14MY], S3712 [15MY], S3856 [22MY], S4056 [12JN] S. 4092 — A bill to amend title 10, United States Code, to implement a limitation on contracting for supplies needed for the Department of the Army for certain workload activities at arsenals of the Department of the Army, and for other purposes; to the Committee on Armed Services. By Mr. DURBIN (for himself, Mr. Grassley, and Ms. Duckworth), S2666 [9AP] Text, S2671 [9AP] S. 4093 — A bill to review and consider terminating the designation of the State of Qatar as a major non-NATO ally, and for other purposes; to the Committee on Foreign Relations. By Mr. BUDD (for himself, Ms. Ernst, and Mr. Scott of Florida), S2706 [10AP] Objection is heard to request for consideration, S2680 [10AP] Cosponsors added, S2791 [16AP] S. 4094 — A bill to amend title XVIII of the Social Security Act to provide for coverage of the Medicare Diabetes Prevention program, and for other purposes; to the Committee on Finance. By Mr. SCOTT of South Carolina (for himself, Mr. Warner, and Mr. Cramer), S2706 [10AP] Cosponsors added, S2829 [17AP], S3598 [8MY] S. 4095 — A bill to amend title 28, United States Code, to limit the authority of district courts to provide injunctive relief, to modify venue requirements relating to bankruptcy proceedings, and to ensure that venue in patents cases is fair and proper, and for other purposes; to the Committee on the Judiciary. By Mr. McCONNELL (for himself, Mr. Cotton, and Mr. Tillis), S2706 [10AP] Text, S2708 [10AP] S. 4096 — A bill to amend title 28, United States Code, to provide for the random assignment of certain cases in the district courts of the United States; to the Committee on the Judiciary. By Mr. SCHUMER (for himself, Mr. Whitehouse, Ms. Hirono, Mr. Wyden, Mrs. Shaheen, Ms. Cortez Masto, Mr. Durbin, Mr. Heinrich, Mr. Blumenthal, Mrs. Gillibrand, Mr. Fetterman, Mr. Markey, Mr. Reed, Mr. Van Hollen, Mr. Warnock, Ms. Duckworth, Ms. Hassan, Ms. Butler, Ms. Klobuchar, Mr. Merkley, Ms. Warren, Mr. Kaine, Ms. Smith, Mr. Booker, Mr. Welch, Mr. Warner, Ms. Baldwin, Mr. King, Mr. Carper, Mrs. Murray, Mr. Schatz, Ms. Rosen, Ms. Cantwell, Mr. Sanders, Mr. Cardin, Mr. Peters, Mr. Coons, Mr. Padilla, Mr. Luján, and Mr. Casey), S2706 [10AP] Text, S2710 [10AP] Cosponsors added, S2829 [17AP], S3136 [1MY], S3816 [21MY] S. 4097 — A bill to modernize the defense capabilities of the Philippines, and for other purposes; to the Committee on Foreign Relations. By Mr. HAGERTY (for himself and Mr. Kaine), S2706 [10AP] S. 4098 — A bill to amend the Internal Revenue Code of 1986 to modify the treatment of foreign corporations, and for other purposes; to the Committee on Finance. By Mr. SANDERS, S2706 [10AP] S. 4099 — A bill to increase the capacity, resiliency, diversity, and security of the United States food supply chain by codifying and expanding the Food Supply Chain Guaranteed Loan Program; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BROWN (for himself and Mr. Braun), S2706 [10AP] S. 4100 — A bill to amend title 38, United States Code, to establish the National Cemeteries Foundation to support the educational outreach activities of the Veterans Legacy Program, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. MORAN (for himself and Ms. Hirono), S2706 [10AP] S. 4101 — A bill to amend title XVIII of the Social Security Act to provide for the continued designation of hospitals that met mountainous terrain or secondary roads distance requirement as critical access hospitals and to modify distance requirements for ambulance services furnished by critical access hospitals; to the Committee on Finance. By Mr. MANCHIN (for himself, Mrs. Capito, Mr. Tester, and Mr. Barrasso), S2706 [10AP] S. 4102 — A bill to amend title 10, United States Code, to include training regarding financial protections under the Servicemembers Civil Relief Act in certain financial literacy training programs for members of the Armed Forces, and for other purposes; to the Committee on Armed Services. By Mr. OSSOFF (for himself and Mr. Scott of Florida), S2706 [10AP] S. 4103 — A bill to require the Administrator of the Federal Aviation Administration to implement the anti-fraud and abuse recommendations of the Comptroller General of the United States, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. GRASSLEY (for himself and Mr. Whitehouse), S2706 [10AP] S. 4104 — A bill to address gun violence, improve the availability of records to the National Instant Criminal Background Check System, address mental illness in the criminal justice system, and for other purposes; to the Committee on the Judiciary. By Mr. GRASSLEY (for himself, Mr. Cruz, and Mr. Tillis), S2706 [10AP] S. 4105 — A bill to direct the Secretary of Defense to accelerate the implementation of quantum information science technologies within the Department of Defense, and for other purposes; to the Committee on Armed Services. By Mrs. BLACKBURN, S2706 [10AP] S. 4106 — A bill to affirm and protect the First Amendment rights of students and student organizations at public institutions of higher education; to the Committee on Health, Education, Labor, and Pensions. By Ms. ERNST (for herself, Mr. Grassley, Mr. Budd, Mrs. Blackburn, Mr. Tillis, Mr. Braun, and Mr. Scott of Florida), S2706 [10AP] S. 4107 — A bill to require Amtrak to report to Congress information on Amtrak compliance with the Americans with Disabilities Act of 1990 with respect to trains and stations; to the Committee on Commerce, Science, and Transportation. By Ms. DUCKWORTH (for herself and Mrs. Capito), S2719 [11AP] S. 4108 — A bill to amend the Federal Food, Drug, and Cosmetic Act to provide a process to lock and suspend domain names used to facilitate the online sale of drugs illegally, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. RUBIO, S2719 [11AP] S. 4109 — A bill to amend title 10, United States Code, to clarify roles and responsibilities within the Department of Defense relating to subconcussive and concussive brain injuries and to improve brain health initiatives of the Department of Defense, and for other purposes; to the Committee on Armed Services. By Ms. WARREN (for herself, Ms. Ernst, Mr. Tillis, Mr. King, Mr. Kaine, Mr. Scott of Florida, Ms. Hirono, Mrs. Gillibrand, Ms. Duckworth, Mr. Cardin, Ms. Collins, and Mr. Mullin), S2719 [11AP] Cosponsors added, S3080 [30AP], S3712 [15MY] S. 4110 — A bill to reauthorize the African Growth and Opportunity Act; to the Committee on Finance. By Mr. COONS (for himself, Mr. Risch, Mr. Young, Mr. Bennet, Mr. Van Hollen, Mr. Rounds, and Mr. Durbin), S2719 [11AP] Cosponsors added, S4056 [12JN] S. 4111 — A bill to provide for a study by the National Academies of Sciences, Engineering, and Medicine on the prevalence and mortality of cancer among individuals who served as active duty aircrew in the Armed Forces, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. KELLY (for himself and Mr. Cotton), S2719 [11AP] Cosponsors added, S3504 [7MY] S. 4112 — A bill to provide protections from prosecution for drug possession to individuals who seek medical assistance when witnessing or experiencing an overdose, and for other purposes; to the Committee on the Judiciary. By Mr. BOOKER (for himself, Mr. Kennedy, Mr. Markey, and Mrs. Capito), S2719 [11AP] S. 4113 — A bill to allow States to require payment of State fees related to boating as a condition for issuance of a vessel number and to collect such fees in conjunction with other fees related to vessel numbering; to the Committee on Commerce, Science, and Transportation. By Mrs. SHAHEEN (for herself, Mr. Crapo, and Mr. Risch), S2719 [11AP] S. 4114 — A bill to authorize a higher Federal share for emergency relief funds for the reconstruction of the Francis Scott Key Bridge located in Baltimore City and Baltimore and Anne Arundel Counties, Maryland, that collapsed on March 26, 2024, and for other purposes; to the Committee on Environment and Public Works. By Mr. CARDIN (for himself and Mr. Van Hollen), S2719 [11AP] S. 4115 — A bill to amend the Higher Education Act of 1965 to prohibit graduate medical schools from receiving Federal financial assistance if such schools adopt certain policies and requirements relating to diversity, equity, and inclusion; to the Committee on Health, Education, Labor, and Pensions. By Mr. KENNEDY (for himself and Mr. Schmitt), S2719 [11AP] S. 4116 — A bill to amend title 10, United States Code, to allow members of the Selected Reserve and National Guard holding employment within the Federal Government the choice between military and civilian healthcare plans, and for other purposes; to the Committee on Armed Services. By Mr. BLUMENTHAL (for himself, Ms. Smith, Ms. Sinema, and Mr. Fetterman), S2719 [11AP] S. 4117 — A bill to require the Administrator of the National Oceanic and Atmospheric Administration to establish a Climate Change Education Program, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. MARKEY (for himself, Mr. Blumenthal, Mr. Booker, Ms. Butler, Mr. Cardin, Mr. Durbin, Mr. Heinrich, Ms. Hirono, Ms. Klobuchar, Mr. Luján, Mr. Menendez, Mr. Merkley, Mr. Murphy, Mr. Padilla, Mr. Sanders, Ms. Smith, Ms. Stabenow, Mr. Van Hollen, Ms. Warren, Mr. Welch, and Mr. Wyden), S2719 [11AP] S. 4118 — A bill to establish the Open Translation Center, and for other purposes; to the Committee on Foreign Relations. By Ms. BALDWIN, S2719 [11AP] S. 4119 — A bill to limit the use of solitary confinement and other forms of restrictive housing in immigration detention, and for other purposes; to the Committee on the Judiciary. By Mr. DURBIN (for himself and Mr. Schatz), S2740 [15AP] Text, S2742 [15AP] Cosponsors added, S3000 [23AP] S. 4120 — A bill to support the direct care professional workforce, and for other purposes; to the Committee on Finance. By Mr. CASEY (for himself, Mr. Kaine, Ms. Baldwin, Mr. Wyden, Mr. King, Mrs. Gillibrand, Mr. Fetterman, Ms. Duckworth, Mr. Heinrich, Mr. Welch, Mr. Blumenthal, Ms. Stabenow, Ms. Smith, Mr. Van Hollen, Mrs. Murray, Mr. Sanders, Ms. Klobuchar, Mr. Brown, Ms. Butler, Mr. Merkley, Mr. Markey, Mr. Booker, Mr. Peters, Ms. Warren, and Ms. Cantwell), S2740 [15AP] Cosponsors added, S2791 [16AP] S. 4121 — A bill to reform the use of solitary confinement and other forms of restrictive housing in the Bureau of Prisons and the United States Marshals Service, and for other purposes; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Mr. Coons, and Mr. Schatz), S2740 [15AP] Text, S2746 [15AP] Cosponsors added, S3136 [1MY] S. 4122 — A bill to amend title XIX of the Social Security Act to develop national quality standards for continuous skilled nursing services provided through Medicaid, and for other purposes; to the Committee on Finance. By Mr. VANCE (for himself and Ms. Hassan), S2740 [15AP] Cosponsors added, S4086 [13JN] S. 4123 — A bill to amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities; to the Committee on Finance. By Ms. BALDWIN (for herself, Mr. Manchin, Mr. Brown, Mr. Whitehouse, Mr. Van Hollen, Mr. Markey, Ms. Warren, Ms. Klobuchar, Mr. Sanders, Mr. Reed, Mr. Kaine, Mr. Welch, Mr. Booker, Ms. Hirono, and Mr. Schatz), S2740 [15AP] Cosponsors added, S2933 [19AP] S. 4124 — A bill to authorize the Secretary of the Interior to conduct a study to assess the suitability and feasibility of designating the Canterbury Shaker Village Heritage Area, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. HASSAN (for herself and Mr. Tillis), S2740 [15AP] S. 4125 — A bill to establish the Jackie Robinson Ballpark National Commemorative Site in the State of Florida, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. RUBIO (for himself, Mr. Warnock, Mrs. Blackburn, Mr. Coons, Mr. Hickenlooper, and Mr. Scott of Florida), S2740 [15AP] Cosponsors added, S2791 [16AP] S. 4126 — A bill to allow a period in which members of the clergy may revoke their exemption from Social Security coverage, and for other purposes; to the Committee on Finance. By Mrs. BRITT (for herself and Ms. Hassan), S2789 [16AP] S. 4127 — A bill to provide for the consideration of a definition of antisemitism set forth by the International Holocaust Remembrance Alliance for the enforcement of Federal antidiscrimination laws concerning education programs or activities, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. SCOTT of South Carolina (for himself, Mr. Casey, Mr. Lankford, Ms. Rosen, Mr. Scott of Florida, Mr. Wyden, Mr. Moran, Mr. Bennet, Mr. Boozman, Ms. Cortez Masto, Ms. Collins, Mr. Coons, Mr. Crapo, Ms. Sinema, Mr. Grassley, Mrs. Gillibrand, Mr. Hawley, Mr. Hickenlooper, Mrs. Britt, Mr. Blumenthal, Mr. Ricketts, Mr. Fetterman, Mr. Barrasso, Mr. Cardin, Mr. Cotton, Mr. Manchin, Mr. Cornyn, Ms. Hassan, Mrs. Capito, and Ms. Cantwell), S2789 [16AP] Cosponsors added, S3756 [16MY] S. 4128 — A bill to require the Secretary of Veterans Affairs to submit to Congress a report on abortions facilitated by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. TUBERVILLE (for himself, Mr. Marshall, Mrs. Blackburn, Mr. Cornyn, Ms. Ernst, Mr. Budd, Mr. Hagerty, Mr. Cramer, Mr. Thune, Mr. Risch, and Mr. Rounds), S2789 [16AP] Cosponsors added, S2829 [17AP], S3756 [16MY], S3886 [23MY] S. 4129 — A bill to contribute funds and artifacts to the Theodore Roosevelt Presidential Library in Medora, North Dakota; to the Committee on Energy and Natural Resources. By Mr. HOEVEN (for himself, Mr. Blumenthal, Mr. Cramer, and Mr. Heinrich), S2789 [16AP] S. 4130 — A bill to require the establishment of a pilot program to expand early child care options for members of the Armed Forces and their families; to the Committee on Armed Services. By Mrs. SHAHEEN (for herself and Ms. Ernst), S2789 [16AP] S. 4131 — A bill to reform Federal firearms laws, and for other purposes; to the Committee on the Judiciary. By Mr. KAINE (for himself and Mr. Warner), S2789 [16AP] S. 4132 — A bill to establish the Chuckwalla National Monument and expand Joshua Tree National Park in the State of California, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. PADILLA (for himself and Ms. Butler), S2789 [16AP] S. 4133 — A bill to amend the National Labor Relations Act to require secret ballot elections, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. BLACKBURN (for herself, Mr. Tuberville, and Mr. Hagerty), S2790 [16AP] Cosponsors added, S3000 [23AP] S. 4134 — A bill to amend the Water Infrastructure Finance and Innovation Act of 2014 with respect to the total amount of Federal assistance for projects in States experiencing severe drought and projects in historically disadvantaged communities, and for other purposes; to the Committee on Environment and Public Works. By Mr. PADILLA, S2790 [16AP] S. 4135 — A bill to require broad agreement for changes to sentencing law; to the Committee on the Judiciary. By Mr. KENNEDY (for himself, Mr. Cornyn, Mr. Cruz, Mr. Cotton, and Mr. Rubio), S2790 [16AP] S. 4136 — A bill to amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations; to the Committee on Finance. By Mr. CORNYN (for himself and Mr. King), S2827 [17AP] S. 4137 — A bill to amend title XVIII of the Social Security Act to count a period of receipt of outpatient observation services in a hospital toward satisfying the 3-day inpatient hospital requirement for coverage of skilled nursing facility services under Medicare; to the Committee on Finance. By Mr. BROWN (for himself, Ms. Collins, and Mr. Whitehouse), S2827 [17AP] Cosponsors added, S4181 [20JN] S. 4138 — A bill to establish an alternative, outcomes-based process for authorizing innovative, high-quality higher education providers to participate in programs under title IV of the Higher Education Act of 1965; to the Committee on Health, Education, Labor, and Pensions. By Mr. BENNET (for himself and Mr. Rubio), S2827 [17AP] S. 4139 — A bill to amend the Workforce Innovation and Opportunity Act to establish a digital skills at work grant program; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE, S2827 [17AP] S. 4140 — A bill to require the Secretary of Energy to identify, analyze, and share available data for the purpose of improving the reliability and resilience of the electric grid, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HEINRICH (for himself, Mr. Wyden, and Mr. Padilla), S2827 [17AP] S. 4141 — A bill to require the Secretary of the Treasury to mint coins in commemoration of the FIFA World Cup 2026, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. YOUNG (for himself and Ms. Butler), S2827 [17AP] Cosponsors added, S3598 [8MY], S3781 [20MY], S4020 [11JN], S4116 [17JN] S. 4142 — A bill to increase the penalty for prohibited possession of a phone in a correctional facility; to the Committee on the Judiciary. By Mr. OSSOFF (for himself and Mr. Grassley), S2827 [17AP] Cosponsors added, S4056 [12JN] S. 4143 — A bill to amend the Internal Revenue Code of 1986 to provide an above-the-line deduction for flood insurance premiums; to the Committee on Finance. By Mr. SCOTT of Florida, S2827 [17AP] S. 4144 — A bill to improve the reliability and adequacy of the bulk-power system by ensuring that key uncertainties in generation, transmission, energy storage systems, and loads are considered in resource adequacy modeling and integrated resource planning, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HEINRICH (for himself, Mr. Wyden, and Mr. Padilla), S2827 [17AP] S. 4145 — A bill to amend the Federal Election Campaign Act of 1971 to further restrict contributions of foreign nationals, and for other purposes; to the Committee on Rules and Administration. By Mr. HAGERTY (for himself, Mrs. Blackburn, Mr. Budd, Ms. Lummis, Mr. Marshall, and Mr. Cruz), S2827 [17AP] S. 4146 — A bill to require the Secretary of Housing and Urban Development to establish grant programs relating to neighborhood revitalization, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. CASEY (for himself and Mrs. Capito), S2827 [17AP] S. 4147 — A bill to continue to fund the IMPROVE initiative through the Eunice Kennedy Shriver National Institute of Child Health and Human Development, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. BUTLER (for herself and Mrs. Britt), S2827 [17AP] S. 4148 — A bill to bolster United States engagement with the Pacific Islands region, and for other purposes; to the Committee on Foreign Relations. By Ms. CORTEZ MASTO (for herself and Ms. Ernst), S2827 [17AP] S. 4149 — A bill to establish a contracting preference for public buildings that use innovative wood products in the construction of those buildings, and for other purposes; to the Committee on Environment and Public Works. By Mr. MERKLEY (for himself and Mr. Risch), S2827 [17AP] Cosponsors added, S3318 [2MY] S. 4150 — A bill to amend the Bankruptcy Threshold Adjustment and Technical Corrections Act to extend bankruptcy eligibility requirements for an additional 2-year period; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Mr. Graham, Mr. Whitehouse, Mr. Grassley, Mr. Coons, and Mr. Cornyn), S2827 [17AP] Text, S2829 [17AP] S. 4151 — A bill to amend the Atomic Energy Act of 1954 and the Nuclear Energy Innovation and Modernization Act to clarify existing requirements relating to fusion machines, and for other purposes; to the Committee on Environment and Public Works. By Mr. PADILLA (for himself, Mr. Cornyn, Mr. Booker, Mr. Young, and Mrs. Murray), S2827 [17AP] S. 4152 — A bill to establish the Precursor Chemical Destruction Initiative to promote bilateral counterdrug interdiction efforts with the governments of specified countries, and for other purposes; to the Committee on Foreign Relations. By Mr. GRASSLEY (for himself, Mrs. Shaheen, and Mr. Risch), S2827 [17AP] S. 4153 — A bill to require the Environmental Protection Agency to assess the lifecycle greenhouse gas emissions associated with the forest biomass combustion for electricity when developing relevant rules and regulations and to carry out a study on the impacts of the forest biomass industry, and for other purposes; to the Committee on Environment and Public Works. By Mr. BOOKER (for himself, Mr. Markey, Ms. Warren, and Mr. Van Hollen), S2828 [17AP] Cosponsors added, S2875 [18AP] S. 4154 — A bill to support communities that host transmission lines and to promote conservation and recreation, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. WELCH, S2828 [17AP] Cosponsors added, S4020 [11JN] S. 4155 — A bill to provide for effective regulation of payment stablecoins, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. LUMMIS (for herself and Mrs. Gillibrand), S2828 [17AP] S. 4156 — A bill to require the Bureau of Prisons to submit to Congress an annual summary report of disaster damage, and for other purposes; to the Committee on the Judiciary. By Ms. DUCKWORTH (for herself and Mr. Booker), S2872 [18AP] S. 4157 — A bill to amend the Water Resources Development Act of 1986 to improve compensatory mitigation, and for other purposes; to the Committee on Environment and Public Works. By Mr. PADILLA (for himself and Mr. Tillis), S2872 [18AP] S. 4158 — A bill to direct the Federal Communications Commission to take certain actions to increase diversity of ownership in the broadcasting industry, and for other purposes; to the Committee on Finance. By Mr. PETERS (for himself, Ms. Stabenow, Ms. Baldwin, Mr. Schatz, Mr. Blumenthal, Ms. Klobuchar, and Mr. Cardin), S2872 [18AP] Cosponsors added, S4056 [12JN] S. 4159 — A bill to amend the Public Health Service Act to encourage qualified individuals to enter the forensic pathology workforce, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. CORNYN (for himself and Mr. Murphy), S2872 [18AP] S. 4160 — A bill to limit the closure or consolidation of any United States Postal Service processing and distribution center in States, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. LUMMIS (for herself, Ms. Hassan, Mr. Barrasso, and Mrs. Shaheen), S2872 [18AP] S. 4161 — A bill to authorize the Attorney General to make grants to States, units of local government, and Indian Tribes to reduce the financial and administrative burden of expunging convictions for cannabis offenses, and for other purposes; to the Committee on the Judiciary. By Ms. ROSEN, S2872 [18AP] S. 4162 — A bill to ensure that certain permit approvals by the Environmental Protection Agency have the force and effect of law, and for other purposes; to the Committee on Environment and Public Works. By Mr. RUBIO (for himself and Mr. Scott of Florida), S2872 [18AP] S. 4163 — A bill to require a report on the United States supply of nitrocellulose; to the Committee on Armed Services. By Mr. RISCH (for himself, Mr. Cotton, Mr. Crapo, Mr. Cassidy, Mr. Kennedy, Mr. Cramer, Mr. Daines, Mr. Rubio, Mr. Hagerty, Mrs. Fischer, Mr. Cornyn, Mr. Scott of Florida, and Mr. Rounds), S2872 [18AP] Cosponsors added, S2933 [19AP] S. 4164 — A bill to authorize the Secretary of the Interior to conduct a special resource study of the Cahokia Mounds and surrounding land in the States of Illinois and Missouri, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. DURBIN (for himself and Ms. Duckworth), S2872 [18AP] Text, S2877 [18AP] S. 4165 — A bill to require the national instant criminal background check system to notify U.S. Immigration and Customs Enforcement and the relevant State and local law enforcement agencies whenever information contained in the system indicates that an alien who is illegally or unlawfully in the United States attempted to receive a firearm; to the Committee on the Judiciary. By Mr. COTTON (for himself, Mr. Tillis, Ms. Ernst, Ms. Lummis, and Mr. Boozman), S2872 [18AP] S. 4166 — A bill to authorize reimbursement to applicants for uniformed military service for co-payments of medical appointments required as part of the Military Entrance Processing Station (MEPS) process; to the Committee on Armed Services. By Ms. KLOBUCHAR (for herself and Mr. Young), S2872 [18AP] S. 4167 — A bill to amend title 28, United States Code, to provide an Inspector General for the judicial branch, and for other purposes; to the Committee on the Judiciary. By Mr. BLUMENTHAL (for himself, Mr. Merkley, Ms. Hirono, Mr. Welch, Mr. Wyden, Mr. Whitehouse, and Mr. Booker), S2872 [18AP] S. 4168 — A bill to amend the Specialty Crops Competitiveness Act of 2004 to extend and enhance the specialty crop block grants program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Ms. BUTLER (for herself, Ms. Collins, Mr. King, Mr. Heinrich, Mr. Booker, Mr. Luján, Mr. Bennet, Mr. Welch, Mr. Sanders, and Mr. Padilla), S2872 [18AP] S. 4169 — A bill to establish and support primary care team education centers, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE, S2872 [18AP] S. 4170 — A bill to amend the Agricultural Act of 2014 to modify provisions relating to base acres, loan rates, and textile mills, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WARNOCK, S2872 [18AP] S. 4171 — A bill to amend the Natural Gas Act to protect consumers from excessive rates, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. BLUMENTHAL, S2872 [18AP] Cosponsors added, S2933 [19AP] S. 4172 — A bill to provide for water conservation, drought operations, and drought resilience at water resources development projects, and for other purposes; to the Committee on Environment and Public Works. By Mr. KELLY (for himself, Mr. Padilla, Ms. Sinema, Mr. Heinrich, and Ms. Rosen), S2872 [18AP] Cosponsors added, S3000 [23AP] S. 4173 — A bill to establish effluent limitations guidelines and standards and water quality criteria for perfluoroalkyl and polyfluoroalkyl substances under the Federal Water Pollution Control Act, and for other purposes; to the Committee on Environment and Public Works. By Mrs. GILLIBRAND, S2872 [18AP] S. 4174 — A bill to amend title IV of the Public Health Service Act to direct the Secretary of Health and Human Services to establish a clearinghouse on intellectual disabilities, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. SCHMITT (for himself and Mr. Ossoff), S2873 [18AP] S. 4175 — A bill to reauthorize the Radiation Exposure Compensation Act; to the Committee on the Judiciary. By Mr. LEE (for himself and Mr. Romney), S2873 [18AP] Objection is heard to request for consideration, S3872 [23MY] S. 4176 — A bill to authorize major medical facility projects for the Department of Veterans Affairs for fiscal year 2024, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. TESTER (for himself, Mr. Moran, Mrs. Murray, Mr. Cornyn, Mr. Blumenthal, Mr. Murphy, Ms. Rosen, Ms. Cortez Masto, Mr. Wyden, Mr. Merkley, Mr. Padilla, and Ms. Butler), S2873 [18AP] S. 4177 — A bill to implement the recommendations of the final report of the Congressional Commission on the Strategic Posture of the United States, and for other purposes; to the Committee on Armed Services. By Mrs. FISCHER (for herself, Mr. Wicker, and Mr. King), S2873 [18AP] S. 4178 — A bill to establish artificial intelligence standards, metrics, and evaluation tools, to support artificial intelligence research, development, and capacity building activities, to promote innovation in the artificial intelligence industry by ensuring companies of all sizes can succeed and thrive, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. CANTWELL (for herself, Mr. Young, Mr. Hickenlooper, and Mrs. Blackburn), S2873 [18AP] S. 4179 — A bill to extend and modify the lend-lease authority to Ukraine; to the Committee on Foreign Relations. By Mr. CORNYN (for himself, Mrs. Shaheen, Mr. Coons, and Mr. Scott of South Carolina), S2873 [18AP] S. 4180 — A bill to amend the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to allow for brownfield revitalization funding eligibility for Alaska Native Tribes, and for other purposes; to the Committee on Environment and Public Works. By Mr. SULLIVAN (for himself and Mr. Kelly), S2873 [18AP] S. 4181 — A bill to require the development of a workforce plan for the Federal Emergency Management Agency; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Cassidy), S2873 [18AP] S. 4182 — A bill to authorize appropriations for certain agricultural research of the Department of Agriculture, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. MERKLEY (for himself and Mr. Wyden), S2873 [18AP] S. 4183 — A bill to amend the Homeland Security Act of 2002 relating to authority of U.S. Customs and Border Protection to consolidate, modify, or reorganize Customs revenue functions; to the Committee on Finance. By Mr. CORNYN (for himself and Mr. Casey), S2873 [18AP] S. 4184 — A bill to amend the Federal Land Policy and Management Act of 1976 to authorize the Secretary of the Interior and the Secretary of Agriculture to enter into cooperative agreements with States to provide for State administration of allotment management plans; to the Committee on Energy and Natural Resources. By Mr. LEE, S2873 [18AP] S. 4185 — A bill to authorize appropriations for climate financing, and for other purposes; to the Committee on Foreign Relations. By Mr. MERKLEY (for himself, Mr. Markey, and Mr. Sanders), S2873 [18AP] Cosponsors added, S2933 [19AP] S. 4186 — A bill to eliminate toxic substances in beverage containers, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. WELCH (for himself, Mr. Merkley, Mr. Booker, and Mr. Van Hollen), S2873 [18AP] S. 4187 — A bill to phase out production of nonessential uses of perfluoroalkyl or polyfluoroalkyl substances, to prohibit releases of all perfluoroalkyl or polyfluoroalkyl substances, and for other purposes; to the Committee on Environment and Public Works. By Mr. DURBIN, S2873 [18AP] Text, S2877 [18AP] S. 4188 — A bill to amend the Commodity Exchange Act to prohibit trading of water and water rights for future delivery, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Ms. WARREN (for herself, Mr. Merkley, Mr. Markey, and Mr. Sanders), S2873 [18AP] S. 4189 — A bill to establish youth advisory councils for the purpose of providing recommendations to the Environmental Protection Agency, Department of the Interior, Department of Energy, Department of Agriculture, and Department of Commerce with respect to environmental issues as those issues relate to youth communities, and for other purposes; to the Committee on Environment and Public Works. By Ms. BUTLER (for herself and Mr. Markey), S2873 [18AP] S. 4190 — A bill to require the Federal Energy Regulatory Commission to promulgate regulations that accelerate the interconnection of electric generation and storage resources to the transmission system through more efficient and effective interconnection procedures; to the Committee on Energy and Natural Resources. By Ms. CORTEZ MASTO, S2873 [18AP] S. 4191 — A bill to require the Secretary of Commerce to create regional wildland fire research centers, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LUJÁN (for himself and Mr. Sullivan), S2873 [18AP] S. 4192 — A bill to amend title II of the Social Security Act to permit disabled individuals to elect to receive disability insurance benefits during the disability insurance benefit waiting period, and for other purposes; to the Committee on Finance. By Ms. STABENOW (for herself and Ms. Collins), S2873 [18AP] S. 4193 — A bill to amend the Food Security Act of 1985 to improve wildlife habitat connectivity and wildlife migration corridors, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. HEINRICH, S2873 [18AP] S. 4194 — A bill to require the Administrator of the Environmental Protection Agency to carry out certain activities to protect communities from the harmful effects of plastics, and for other purposes; to the Committee on Environment and Public Works. By Mr. BOOKER (for himself, Mr. Merkley, Mr. Van Hollen, Mr. Sanders, Mr. Durbin, Mr. Welch, and Mr. Markey), S2873 [18AP] S. 4195 — A bill to require warning labels on sugar-sweetened foods and beverages, foods and beverages containing non-sugar sweeteners, ultra-processed foods, and foods high in nutrients of concern, such as added sugar, saturated fat, or sodium, to restrict junk food advertising to children, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. SANDERS (for himself, Mr. Booker, and Mr. Welch), S2873 [18AP] Cosponsors added, S3001 [23AP] S. 4196 — A bill to amend the National and Community Service Act of 1990 to establish an Office of Civic Bridgebuilding within the Corporation for National and Community Service, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. COONS (for himself and Mr. Young), S2873 [18AP] S. 4197 — A bill to amend the FISA Amendments Act of 2008 to provide for an extension of certain authorities under title VII of the Foreign Intelligence Surveillance Act of 1978; to the Committee on the Judiciary. By Mr. LEE, S2932 [19AP] S. 4198 — A bill to amend title 38, United States Code, to ensure direct access for families to national cemeteries, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. SULLIVAN, S2932 [19AP] S. 4199 — A bill to authorize additional district judges for the district courts and convert temporary judgeships; to the Committee on the Judiciary. By Mr. YOUNG (for himself, Mr. Coons, Mr. Lankford, Mr. Padilla, Mr. Cruz, Ms. Hirono, Mr. Tillis, and Mr. Luján), S2932 [19AP] Reported with amendment (no written report), S4152 [18JN] Cosponsors added, S4154 [18JN] S. 4200 — A bill to amend title 5, United States Code, to provide for the publication, by the Office of Information and Regulatory Affairs, of information relating to rule making, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. LEE (for himself and Mr. Marshall), S2932 [19AP] S. 4201 — A bill to amend title XVIII of the Social Security Act to modify the criteria for designation of rural emergency hospitals; to the Committee on Finance. By Mrs. HYDE-SMITH, S2999 [23AP] S. 4202 — A bill to require the Department of State to create and implement a process for better supporting new diplomatic missions; to the Committee on Foreign Relations. By Mr. RISCH, S2999 [23AP] S. 4203 — A bill to direct the Secretary of Agriculture to establish a program to provide emergency relief to producers that experienced losses as a result of disasters occurring in 2023, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. MARSHALL, S3078 [30AP] S. 4204 — A bill to amend title XIX of the Social Security Act to codify value-based purchasing arrangements under the Medicaid program and reforms related to price reporting under such arrangements, and for other purposes; to the Committee on Finance. By Mr. MULLIN (for himself, Ms. Sinema, Mr. Scott of South Carolina, and Ms. Hassan), S3078 [30AP] S. 4205 — A bill to require the Secretary of Labor to award grants for promoting industry or sector partnerships to encourage industry growth and competitiveness and to improve worker training, retention, and advancement as part of an infrastructure investment; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE, S3078 [30AP] S. 4206 — A bill to amend the Lacey Act Amendments of 1981 to prohibit certain activities involving prohibited primate species, and for other purposes; to the Committee on Environment and Public Works. By Mr. BLUMENTHAL (for himself, Mr. Padilla, and Mr. Murphy), S3078 [30AP] Cosponsors added, S3504 [7MY], S3712 [15MY], S3856 [22MY], S4020 [11JN] S. 4207 — A bill to reauthorize the spectrum auction authority of the Federal Communications Commission, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. CANTWELL (for herself and Mr. Luján), S3078 [30AP] S. 4208 — A bill to authorize annual appropriations for the Affordable Connectivity Program, to expand the Universal Service Fund to support the Affordable Connectivity Program, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. FETTERMAN, S3078 [30AP] S. 4209 — A bill to provide greater regional access to the Katahdin Woods and Waters National Monument in the State of Maine, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. KING, S3078 [30AP] S. 4210 — A bill to amend the Lead-Based Paint Poisoning Prevention Act to provide for additional procedures for families with children under the age of 6, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. DURBIN (for himself and Mr. Young), S3078 [30AP] Text, S3080 [30AP] S. 4211 — A bill to amend the National Voter Registration Act of 1993 to require States to designate public high schools as voter registration agencies, to direct such schools to conduct voter registration drives for students attending such schools, to direct the Secretary of Education to make grants to reimburse such schools for the costs of conducting such voter registration drives, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. BUTLER (for herself, Mr. Padilla, Mr. Booker, Ms. Hirono, Mr. Cardin, Mr. Welch, and Mr. Whitehouse), S3078 [30AP] Cosponsors added, S3318 [2MY] S. 4212 — A bill to amend the Visit America Act to promote music tourism, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. BLACKBURN (for herself and Mr. Hickenlooper), S3078 [30AP] S. 4213 — A bill to prohibit users who are under age 13 from accessing social media platforms, to prohibit the use of personalized recommendation systems on individuals under age 17, and limit the use of social media in schools; to the Committee on Commerce, Science, and Transportation. By Mr. SCHATZ (for himself, Mr. Cruz, Mr. Murphy, Mrs. Britt, Mr. Welch, and Mr. Budd), S3078 [30AP] S. 4214 — A bill to provide for the vacating of certain convictions and expungement of certain arrests of victims of human trafficking; to the Committee on the Judiciary. By Mrs. GILLIBRAND (for herself, Mr. Rubio, Mr. Wyden, Mrs. Hyde-Smith, Ms. Cortez Masto, Mr. Rounds, Mr. Welch, Mr. Daines, Mr. Coons, and Ms. Murkowski), S3078 [30AP] S. 4215 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish new prohibited acts relating to dietary supplements; to the Committee on Health, Education, Labor, and Pensions. By Mr. DURBIN (for himself and Mr. Blumenthal), S3078 [30AP] Text, S3081 [30AP] S. 4216 — A bill to establish the Ocmulgee Mounds National Park and Preserve in the State of Georgia, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. OSSOFF (for himself and Mr. Warnock), S3078 [30AP] S. 4217 — A bill to secure the Federal voting rights of persons when released from incarceration under the First Step Act; to the Committee on the Judiciary. By Ms. BUTLER (for herself, Mr. Booker, Ms. Klobuchar, Mr. Welch, Mr. Wyden, Ms. Hirono, Mr. Coons, Ms. Duckworth, Ms. Smith, Mr. Markey, Mr. Van Hollen, and Mr. Merkley), S3078 [30AP] S. 4218 — A bill to designate the visitor center for the First State National Historical Park to be located at the Sheriff’s House in New Castle, Delaware, as the ‘‘Thomas R. Carper Visitor Center’’; to the Committee on Energy and Natural Resources. By Mr. COONS, S3134 [1MY] S. 4219 — A bill to amend the Consolidated Farm and Rural Development Act to eliminate a requirement that certain individuals be related by blood or marriage to be eligible for farm loans as a qualified beginning farmer or rancher, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WELCH (for himself, Mr. Sanders, and Ms. Smith), S3134 [1MY] S. 4220 — A bill to collect information regarding water access needs across the United States, to understand the impacts of the water access gap in each State and territory, and for other purposes; to the Committee on Environment and Public Works. By Mr. WYDEN (for himself, Mr. Merkley, Mr. Luján, and Mr. Heinrich), S3134 [1MY] S. 4221 — A bill to amend title 51, United States Code, to authorize the transfer to NASA of funds from other agencies for scientific or engineering research or education, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CORNYN (for himself and Ms. Sinema), S3134 [1MY] S. 4222 — A bill to adjust the boundary of the Mojave National Preserve in the State of California to include the land within the Castle Mountains National Monument; to the Committee on Energy and Natural Resources. By Mr. PADILLA, S3134 [1MY] S. 4223 — A bill to establish certain duties for pharmacies to ensure provision of Food and Drug Administration-approved contraception, medication related to contraception, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BOOKER (for himself, Ms. Smith, Mr. Merkley, Mr. Blumenthal, Mr. Kaine, Mr. Padilla, Mr. Whitehouse, Mr. Heinrich, Ms. Duckworth, Ms. Warren, Ms. Rosen, Mr. Menendez, Ms. Butler, Mr. Murphy, Mr. Van Hollen, Ms. Hirono, Mrs. Gillibrand, Mrs. Shaheen, Mr. Warner, Ms. Baldwin, Mr. Wyden, Ms. Stabenow, and Mr. Brown), S3134 [1MY] S. 4224 — A bill to prohibit discrimination based on an individual’s texture or style of hair; to the Committee on the Judiciary. By Mr. BOOKER (for himself and Ms. Collins), S3134 [1MY] S. 4225 — A bill to amend the District of Columbia Home Rule Act to require any individual who votes in a municipal election of the District of Columbia to be a United States citizen and to provide proof of citizenship; to the Committee on Homeland Security and Governmental Affairs. By Mr. MARSHALL (for himself and Mr. Scott of Florida), S3134 [1MY] Cosponsors added, S3756 [16MY] Objection is heard to request for consideration, S3796 [21MY] S. 4226 — A bill to decriminalize and deschedule cannabis, to provide for reinvestment in certain persons adversely impacted by the War on Drugs, to provide for expungement of certain cannabis offenses, and for other purposes; to the Committee on Finance. By Mr. BOOKER (for himself, Mr. Schumer, Mr. Wyden, Mr. Fetterman, Mrs. Murray, Mr. Peters, Mr. Merkley, Mr. Warnock, Ms. Butler, Mr. Welch, Ms. Smith, Mrs. Gillibrand, Mr. Markey, Mr. Luján, Ms. Warren, Mr. Hickenlooper, Mr. Bennet, and Mr. Padilla), S3134 [1MY] S. 4227 — A bill to amend the California Desert Protection Act of 1994 to expand the boundary of Joshua Tree National Park; to the Committee on Energy and Natural Resources. By Mr. PADILLA (for himself and Ms. Butler), S3134 [1MY] S. 4228 — A bill to redesignate the Cottonwood Visitor Center at Joshua Tree National Park as the ‘‘Senator Dianne Feinstein Visitor Center’’; to the Committee on Energy and Natural Resources. By Mr. PADILLA (for himself and Ms. Butler), S3134 [1MY] S. 4229 — A bill to amend title XVIII of the Social Security Act to require that coinsurance for drugs under Medicare part D be based on the drug’s net price and not the drug’s list price; to the Committee on Finance. By Ms. ROSEN (for herself and Mr. Cornyn), S3134 [1MY] S. 4230 — A bill to improve the tracking and processing of security and safety incidents and risks associated with artificial intelligence, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. WARNER (for himself and Mr. Tillis), S3134 [1MY] S. 4231 — A bill to provide for the establishment of Medicare part E public health plans, and for other purposes; to the Committee on Finance. By Mr. MERKLEY (for himself, Mr. Murphy, Ms. Baldwin, Mr. Blumenthal, Mr. Booker, Ms. Duckworth, Mr. Durbin, Mrs. Gillibrand, Mr. Reed, Mr. Schatz, Ms. Smith, and Mr. Van Hollen), S3134 [1MY] Cosponsors added, S4154 [18JN] S. 4232 — A bill to amend title 18, United States Code, to prohibit former employees of covered health agencies from serving on the board of entities involved in development and research of a drug, biological product, or device and from profiting from a drug, biological product, or device, and for other purposes; to the Committee on the Judiciary. By Mr. VANCE, S3134 [1MY] S. 4233 — A bill to prohibit the use of Federal funds to provide or subsidize housing for aliens who are unlawfully present in the United States until the Secretary of Veterans determines that sufficient Federal resources exist to provide housing assistance to all homeless veterans; to the Committee on Banking, Housing, and Urban Affairs. By Mr. KENNEDY (for himself, Mr. Cotton, Mr. Marshall, Mrs. Blackburn, and Mr. Cramer), S3134 [1MY] S. 4234 — A bill to amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation; to the Committee on Finance. By Mr. BENNET (for himself and Ms. Collins), S3134 [1MY] S. 4235 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to reauthorize grants to support for law enforcement officers and families, and for other purposes; to the Committee on the Judiciary. By Mr. HAWLEY (for himself and Mr. Whitehouse), S3134 [1MY] Reported (no written report), S3990 [5JN] Cosponsors added, S3992 [5JN] S. 4236 — A bill to authorize the Director of the National Science Foundation to identify grand challenges and award competitive prizes for artificial intelligence research and development; to the Committee on Commerce, Science, and Transportation. By Mr. BOOKER (for himself, Mr. Rounds, and Mr. Heinrich), S3134 [1MY] S. 4237 — A bill to amend the Internal Revenue Code of 1986 to repeal the credit for new clean vehicles, and for other purposes; to the Committee on Finance. By Mr. BARRASSO (for himself, Mr. Braun, Mrs. Capito, Mr. Cotton, Mr. Cramer, Mr. Daines, Ms. Ernst, Mr. Hoeven, Mr. Lankford, Mr. Lee, Ms. Lummis, Mr. Marshall, Mr. Ricketts, Mr. Risch, Mr. Rounds, Mr. Schmitt, Mr. Scott of Florida, Mr. Thune, and Mr. Rubio), S3316 [2MY] Cosponsors added, S3712 [15MY] S. 4238 — A bill to amend title III of the Public Health Service Act to direct the Secretary of Health and Human Services, acting through the Administrator of the Health Resources and Services Administration, to award grants to eligible entities to carry out construction or modernization projects designed to strengthen and increase capacity within the specialized pediatric health care infrastructure, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. PADILLA (for himself and Mr. Casey), S3316 [2MY] S. 4239 — A bill to require the head of each agency to submit to Congress and make publicly available information relating to the implementation of Executive Order 14019; to the Committee on Homeland Security and Governmental Affairs. By Mr. HAGERTY, S3316 [2MY] Objection is heard to request for consideration, S3300 [2MY] S. 4240 — A bill to establish that an individual who is convicted of any offense under any Federal or State law related to the individual’s conduct at and during the course of a protest that occurs at an institution of higher education shall be ineligible for forgiveness, cancellation, waiver, or modification of certain Federal student loans; to the Committee on Health, Education, Labor, and Pensions. By Mr. COTTON (for himself, Mr. Hawley, Mr. Romney, Mr. Scott of South Carolina, Mr. Tuberville, Mr. Tillis, Mr. Daines, Mr. Wicker, Mr. Crapo, Mr. Risch, Mrs. Blackburn, Mrs. Hyde-Smith, Mrs. Fischer, Mr. Graham, Mrs. Britt, Mr. Vance, Mr. Rubio, Mr. Marshall, and Mr. Cruz), S3316 [2MY] Cosponsors added, S3598 [8MY], S3712 [15MY], S3756 [16MY] S. 4241 — A bill to require the Secretary of Defense to appropriately consider Taiwan for enhanced defense industrial base cooperation activities, and for other purposes; to the Committee on Foreign Relations. By Ms. ROSEN (for herself, Mr. Sullivan, Mr. Kaine, Mr. Scott of Florida, Ms. Duckworth, and Ms. Ernst), S3316 [2MY] Cosponsors added, S4154 [18JN] S. 4242 — A bill to extend the authorization of the Reclamation States Emergency Drought Relief Act of 1991, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HICKENLOOPER (for himself, Ms. Lummis, and Mr. Wyden), S3316 [2MY] S. 4243 — A bill to award posthumously the Congressional Gold Medal to Shirley Chisholm; to the Committee on Banking, Housing, and Urban Affairs. By Ms. BUTLER (for herself, Mr. Warnock, Mr. Booker, Ms. Smith, Mrs. Murray, Ms. Warren, Ms. Cortez Masto, Ms. Hirono, Mr. Sanders, Ms. Collins, Ms. Murkowski, Ms. Stabenow, Ms. Klobuchar, Mr. Van Hollen, Ms. Duckworth, Mr. Kaine, and Mr. Padilla), S3316 [2MY] S. 4244 — A bill to amend the Community Development Banking and Financial Institutions Act of 1994 to include in technical assistance provided by the Community Development Financial Institutions Fund resources for non-English speaking individuals, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. BUTLER, S3316 [2MY] S. 4245 — A bill to amend the Omnibus Public Land Management Act of 2009 to reauthorize certain United States Geological Survey water data enhancement programs, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. LUMMIS (for herself, Mr. Hickenlooper, and Mr. Wyden), S3316 [2MY] S. 4246 — A bill to improve menopause care and mid-life women’s health, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. MURRAY (for herself, Ms. Murkowski, Ms. Baldwin, Ms. Collins, Ms. Klobuchar, Mrs. Capito, Ms. Cantwell, Ms. Cortez Masto, Ms. Duckworth, Mrs. Gillibrand, Ms. Hassan, Ms. Hirono, Ms. Rosen, Mrs. Shaheen, Ms. Sinema, Ms. Smith, and Ms. Stabenow), S3316 [2MY] S. 4247 — A bill to establish Federal research award reimbursement limits for indirect costs for institutions of higher education, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. LEE (for himself, Mr. Marshall, and Mr. Hawley), S3316 [2MY] S. 4248 — A bill to require the Financial Literacy and Education Commission to carry out a study on the impact of language barriers to financial health, to require the website and toll-free telephone number of the Commission to be provided in the most commonly spoken languages in the United States, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. BUTLER, S3316 [2MY] S. 4249 — A bill to require the Secretary of Defense to conduct a study on access to operational energy by the Armed Forces in the Indo-Pacific region; to the Committee on Armed Services. By Mr. RUBIO, S3316 [2MY] Cosponsors added, S3598 [8MY] S. 4250 — A bill to provide for a permanent extension and expansion of the pilot program for streamlining awards for innovative technology projects; to the Committee on Armed Services. By Mr. RUBIO (for himself and Mr. Cotton), S3316 [2MY] S. 4251 — A bill to establish a payment program for unexpected loss of markets and revenues to timber harvesting and timber hauling businesses due to major disasters, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Ms. COLLINS (for herself and Mr. King), S3316 [2MY] Cosponsors added, S3856 [22MY] S. 4252 — A bill to amend the Agricultural Act of 2014 to establish additional payments for unborn livestock under the livestock indemnity payment program; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. CRUZ, S3316 [2MY] Cosponsors added, S3956 [4JN] S. 4253 — A bill to ensure that United States diplomats and officials of the U.S. Section of the International Boundary and Water Commission are able to advance efforts seeking compliance by the United Mexican States with the 1944 Treaty on Utilization of Waters of the Colorado and Tijuana Rivers and of the Rio Grande; to the Committee on Foreign Relations. By Mr. CRUZ (for himself and Mr. Cornyn), S3316 [2MY] S. 4254 — A bill to limit the closure or consolidation of any United States Postal Service processing and distribution center in States, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. TESTER, S3316 [2MY] S. 4255 — A bill to modernize Federal firearms laws to account for advancements in technology and less-than-lethal weapons, and for other purposes; to the Committee on Finance. By Ms. SINEMA (for herself and Mr. Hagerty), S3316 [2MY] Cosponsors added, S3956 [4JN] S. 4256 — A bill to amend the Higher Education Act of 1965 to direct the Secretary of Education to award institutions of higher education grants for teaching English learners; to the Committee on Health, Education, Labor, and Pensions. By Ms. CORTEZ MASTO (for herself and Mr. Cornyn), S3316 [2MY] S. 4257 — A bill to prohibit the Internal Revenue Service from allowing IRS personnel to use a personal device, including a mobile device, to access, process, transmit, or store taxpayer information; to the Committee on Finance. By Mr. THUNE (for himself, Mrs. Blackburn, Mr. Cassidy, Mr. Daines, and Mr. Tillis), S3316 [2MY] Text, S3319 [2MY] S. 4258 — A bill to amend title 18, United States Code, to punish criminal offenses targeting law enforcement officers, and for other purposes; to the Committee on the Judiciary. By Mr. TILLIS (for himself, Mr. Graham, Mr. Cornyn, Mr. Cruz, Mr. Cotton, Mr. Hoeven, Mr. Daines, Mr. Cramer, Ms. Collins, Mr. Manchin, and Mrs. Capito), S3316 [2MY] Cosponsors added, S3504 [7MY], S3687 [14MY], S3712 [15MY], S3756 [16MY], S3781 [20MY], S3856 [22MY] S. 4259 — A bill to require the Secretary of the Interior to conduct a study to assess the suitability and feasibility of designating certain land as the Lahaina National Heritage Area, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. HIRONO, S3316 [2MY] S. 4260 — A bill to establish protections for warehouse workers, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARKEY (for himself, Mr. Casey, Ms. Smith, and Mr. Brown), S3316 [2MY] S. 4261 — A bill to direct the Secretary of Housing and Urban Development to award grants to provide financial assistance to certain educators to make down payments on certain homes, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. HEINRICH, S3317 [2MY] S. 4262 — A bill to require the Director of the Office of Management and Budget to approve or deny spend plans within a certain amount of time, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. SCOTT of Florida (for himself, Mr. Sullivan, Ms. Murkowski, and Mr. Rubio), S3317 [2MY] S. 4263 — A bill to require agencies to publish an advance notice of proposed rulemaking for major rules; to the Committee on Homeland Security and Governmental Affairs. By Mr. LANKFORD (for himself, Ms. Sinema, and Mrs. Capito), S3317 [2MY] Cosponsors added, S3598 [8MY] S. 4264 — A bill to amend title 5, United States Code, to improve the effectiveness of major rules in accomplishing their regulatory objectives by promoting retrospective review, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. SINEMA (for herself, Mr. Lankford, Mr. Manchin, and Mrs. Capito), S3317 [2MY] S. 4265 — A bill to amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. BUTLER (for herself, Ms. Warren, and Ms. Hirono), S3503 [7MY] S. 4266 — A bill to amend title 5, United States Code, to address telework for Federal employees, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. ROMNEY (for himself and Mr. Manchin), S3503 [7MY] S. 4267 — A bill to prohibit Big Cypress National Preserve from being designated as wilderness or as a component of the National Wilderness Preservation System, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. SCOTT of Florida, S3503 [7MY] Cosponsors added, S3932 [3JN] S. 4268 — A bill proposing a balanced budget amendment to the Constitution of the United States; to the Committee on the Judiciary. By Mr. TESTER, S3503 [7MY] S. 4269 — A bill to amend title 49, United States Code, to promote competition in aviation regulation, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. WARREN (for herself and Mr. Hawley), S3503 [7MY] S. 4270 — A bill to amend the Higher Education Act of 1965 to improve the financial aid process for homeless and foster care youth; to the Committee on Health, Education, Labor, and Pensions. By Mrs. MURRAY (for herself and Mr. Braun), S3503 [7MY] Cosponsors added, S4020 [11JN] S. 4271 — A bill to provide for greater cooperation and coordination between the Federal Government and the governing bodies and community users of land grant-mercedes in New Mexico relating to historical or traditional uses of certain land grant-mercedes on Federal public land, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. LUJÁN, S3503 [7MY] S. 4272 — A bill to direct the Joint Committee of Congress on the Library to obtain a statue of Shirley Chisholm for placement in the United States Capitol; to the Committee on Rules and Administration. By Mr. WARNOCK (for himself, Ms. Butler, Ms. Klobuchar, Ms. Warren, Ms. Hirono, Mr. Sanders, Mr. Durbin, Ms. Smith, Mrs. Murray, Ms. Stabenow, Mr. Casey, Mr. Padilla, Mr. Van Hollen, Ms. Cortez Masto, and Ms. Collins), S3503 [7MY] Cosponsors added, S3598 [8MY] S. 4273 — A bill to amend the Older Americans Act of 1965 to enhance the longevity, dignity, empowerment, and respect of older individuals who are Native Americans, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. MURKOWSKI (for herself and Ms. Smith), S3503 [7MY] S. 4274 — A bill to require the Federal Bureau of Investigation to place on the No Fly List individuals who have supported foreign terrorist organizations, encouraged crimes of violence against Jewish persons, or been disciplined by an institution of higher education in relation to such conduct; to the Committee on the Judiciary. By Mr. MARSHALL (for himself and Mrs. Blackburn), S3503 [7MY] S. 4275 — A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to inverted corporations; to the Committee on Finance. By Mr. DURBIN (for himself, Mr. Reed, Mr. Whitehouse, Mr. Blumenthal, Mr. Sanders, Ms. Hirono, Ms. Duckworth, Mr. Van Hollen, and Ms. Baldwin), S3503 [7MY] Text, S3505 [7MY] Cosponsors added, S3598 [8MY], S3956 [4JN] S. 4276 — A bill to amend the Public Health Service Act to reauthorize the Project ECHO Grant Program, to establish grants under such program to disseminate knowledge and build capacity to address Alzheimer’s disease and other dementias, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. KLOBUCHAR (for herself and Mrs. Capito), S3503 [7MY] Cosponsors added, S3886 [23MY], S4181 [20JN] S. 4277 — A bill to establish a green transportation infrastructure grant program, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. WARREN (for herself, Mr. Markey, Mr. Blumenthal, Mr. Booker, and Mr. Sanders), S3503 [7MY] Cosponsors added, S3712 [15MY] S. 4278 — A bill to require the Secretary of Health and Human Services to issue regulations to ensure due process rights for physicians before any termination, restriction, or reduction of the professional activity of such physicians or staff privileges of such physicians; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARSHALL (for himself and Ms. Warren), S3597 [8MY] S. 4279 — A bill to require the Department of State and the Department of Defense to engage with the Government of Japan regarding areas of cooperation within the Pillar Two framework of the AUKUS partnership, and for other purposes; to the Committee on Foreign Relations. By Mr. ROMNEY (for himself, Mr. Kaine, Mr. Risch, and Mr. Hagerty), S3597 [8MY] Cosponsors added, S3886 [23MY], S4116 [17JN] S. 4280 — A bill to amend titles XVIII and XIX of the Social Security Act to require skilled nursing facilities, nursing facilities, intermediate care facilities for the intellectually disabled, and inpatient rehabilitation facilities to permit essential caregivers access during any period in which regular visitation is restricted; to the Committee on Finance. By Mr. BLUMENTHAL (for himself and Mr. Cornyn), S3597 [8MY] S. 4281 — A bill to establish a student loan forgiveness plan for certain borrowers who are employed at a qualified farm or ranch; to the Committee on Health, Education, Labor, and Pensions. By Mr. MURPHY (for himself and Ms. Smith), S3597 [8MY] S. 4282 — A bill to prohibit the Secretary of Agriculture from implementing any rule or regulation requiring the mandatory use of electronic identification eartags on cattle and bison; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. ROUNDS, S3597 [8MY] S. 4283 — A bill to establish grants to provide education on guardianship alternatives for older adults and people with disabilities to health care workers, educators, family members, and court workers and court-related personnel; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself, Ms. Klobuchar, Ms. Duckworth, Mr. Merkley, and Mr. Sanders), S3597 [8MY] Cosponsors added, S3781 [20MY] S. 4284 — A bill to amend title 38, United States Code, to increase the amount of monthly housing stipend received by parents pursuing a program of education through distance learning using Post-9/11 Educational Assistance, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. RUBIO (for himself and Ms. Rosen), S3597 [8MY] S. 4285 — A bill to amend the National Defense Authorization Act for Fiscal Year 2016 to improve cooperation between the United States and Israel on anti-tunnel defense capabilities; to the Committee on Foreign Relations. By Mr. PETERS (for himself and Mr. Budd), S3597 [8MY] S. 4286 — A bill to provide emergency assistance to States, territories, Tribal nations, and local areas affected by substance use disorder, including the use of opioids and stimulants, and to make financial assistance available to States, territories, Tribal nations, local areas, public or private nonprofit entities, and certain health providers, to provide for the development, organization, coordination, and operation of more effective and cost efficient systems for the delivery of essential services to individuals with substance use disorder and their families; to the Committee on Health, Education, Labor, and Pensions. By Ms. WARREN (for herself, Ms. Baldwin, Mr. Blumenthal, Mr. Booker, Mr. Markey, Mr. Van Hollen, Mr. Casey, Ms. Klobuchar, Mr. Schatz, Mr. Padilla, Ms. Smith, Mr. Merkley, Mr. Heinrich, Mr. Brown, Mr. Welch, Mr. Fetterman, and Ms. Butler), S3597 [8MY] S. 4287 — A bill to establish a program of workforce development as an alternative to college for all, and for other purposes; to the Committee on Finance. By Mr. COTTON (for himself and Mr. Vance), S3597 [8MY] S. 4288 — A bill to amend the Atomic Energy Act of 1954 to provide for more efficient hearings on nuclear facility construction applications, and for other purposes; to the Committee on Environment and Public Works. By Mr. SCOTT of South Carolina (for himself and Mr. Coons), S3597 [8MY] S. 4289 — A bill to cancel existing medical debt, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. SANDERS (for himself and Mr. Merkley), S3597 [8MY] Cosponsors added, S3687 [14MY] S. 4290 — A bill to permit voluntary economic activity; to the Committee on the Judiciary. By Mr. PAUL, S3597 [8MY] S. 4291 — A bill to repeal the limitations on multiple ownership of radio and television stations imposed by the Federal Communications Commission, to prohibit the Federal Communications Commission from limiting common ownership of daily newspapers and full-power broadcast stations, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. PAUL, S3597 [8MY] S. 4292 — A bill to amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes; to the Committee on Rules and Administration. By Mr. LEE (for himself, Mr. Cramer, Mr. Cruz, Mr. Tuberville, Mr. Marshall, Mr. Budd, Mr. Kennedy, and Mr. Scott of Florida), S3597 [8MY] Cosponsors added, S3655 [9MY], S3687 [14MY], S3712 [15MY], S3781 [20MY] Objection is heard to request for consideration, S3843 [22MY] S. 4293 — A bill to designate the United States courthouse annex located at 310 South Main Street in London, Kentucky, as the ‘‘Eugene E. Siler, Jr. United States Courthouse Annex’’; to the Committee on Environment and Public Works. By Mr. McCONNELL, S3597 [8MY] Text, S3599 [8MY] Reported (no written report), S3930 [3JN] S. 4294 — A bill to direct the Secretary of Homeland Security to negotiate with the Government of Canada regarding an agreement for integrated cross border aerial law enforcement operations, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. HASSAN (for herself and Mr. Lankford), S3597 [8MY] S. 4295 — A bill to establish that institutions of higher education shall be ineligible for funds under the Higher Education Act of 1965 due to campus disorder; to the Committee on Finance. By Mr. VANCE, S3653 [9MY] S. 4296 — A bill to amend the Public Health Service Act to provide more opportunities for mothers to succeed, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. BRITT (for herself, Mr. Rubio, Mr. Cramer, Mr. Daines, Mr. Grassley, Mrs. Hyde-Smith, Mr. Marshall, Mr. Moran, Mr. Ricketts, Mr. Rounds, Mr. Schmitt, Mr. Tillis, Mr. Wicker, and Mr. Lankford), S3653 [9MY] Cosponsors added, S3712 [15MY], S3756 [16MY], S3816 [21MY], S3856 [22MY], S3886 [23MY] Objection is heard to request for consideration, S4138 [18JN] S. 4297 — A bill to repeal the Corporate Transparency Act; to the Committee on Banking, Housing, and Urban Affairs. By Mr. TUBERVILLE (for himself, Mr. Tillis, Mr. Barrasso, Mr. Lee, Mr. Scott of Florida, Mr. Budd, Mr. Marshall, Mr. Vance, and Mrs. Hyde-Smith), S3653 [9MY] Cosponsors added, S3992 [5JN], S4020 [11JN] S. 4298 — A bill to provide that certain water beads products shall be considered banned hazardous products under section 8 of the Consumer Product Safety Act, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. BALDWIN (for herself, Mr. Casey, and Ms. Collins), S3654 [9MY] S. 4299 — A bill to require the Secretary of Transportation to issue a rule relating to the collection of crashworthiness information under the New Car Assessment Program of the National Highway Traffic Safety Administration, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. FISCHER (for herself, Mrs. Murray, Mrs. Blackburn, and Ms. Duckworth), S3654 [9MY] S. 4300 — A bill to require the Secretary of Labor to maintain a publicly available list of all employers that relocate a call center or contract call center work overseas, to make such companies ineligible for Federal grants or guaranteed loans, and to require disclosure of the physical location of business agents engaging in customer service communications, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CASEY (for himself, Ms. Baldwin, Mr. Blumenthal, Ms. Butler, Mr. Cardin, Mr. Durbin, Mr. Fetterman, Mrs. Gillibrand, Ms. Hassan, Mr. Markey, Mr. Merkley, Mr. Padilla, Mr. Peters, Ms. Rosen, Mr. Sanders, Ms. Stabenow, Mr. Van Hollen, and Ms. Warren), S3654 [9MY] Cosponsors added, S3856 [22MY] S. 4301 — A bill to grant States and Indian Tribes the authority to waive the 2-year foreign residence requirement for educators in rural and Tribal areas, and for other purposes; to the Committee on the Judiciary. By Mr. THUNE (for himself, Mr. Heinrich, Mr. Rounds, and Mr. Luján), S3654 [9MY] Text, S3656 [9MY] S. 4302 — A bill to provide that individuals convicted of certain crimes relating to institutions of higher education are ineligible for Federal student financial assistance under title IV of the Higher Education Act of 1965, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. TILLIS (for himself, Mr. Risch, Mr. Crapo, Ms. Ernst, Mrs. Blackburn, Mr. Ricketts, Mr. Daines, Mr. Hawley, and Mr. Cruz), S3654 [9MY] S. 4303 — A bill to amend the Federal Food, Drug, and Cosmetic Act to ensure the safety of food and limit the presence of contaminants in infant and toddler food, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. KLOBUCHAR (for herself and Ms. Duckworth), S3654 [9MY] S. 4304 — A bill to amend title XIX of the Social Security Act to provide coverage under the Medicaid program for services provided by doulas and midwives, and for other purposes; to the Committee on Finance. By Ms. WARREN (for herself, Mr. Booker, Mr. Casey, Mr. Padilla, Ms. Duckworth, Mr. Sanders, Mr. Heinrich, and Mr. Blumenthal), S3654 [9MY] S. 4305 — A bill to improve the effectiveness of body armor issued to female agents and officers of the Department of Homeland Security, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mrs. Britt), S3654 [9MY] S. 4306 — A bill to direct the Secretary of Defense to establish a working group to develop and coordinate an artificial intelligence initiative among the Five Eyes countries, and for other purposes; to the Committee on Foreign Relations. By Ms. ROSEN (for herself and Mr. Budd), S3654 [9MY] S. 4307 — A bill to amend the Clean Air Act, the Federal Water Pollution Control Act, and the Endangered Species Act of 1973 to modify requirements for citizen suits under those Acts, and for other purposes; to the Committee on Environment and Public Works. By Mr. RUBIO (for himself and Mr. Cramer), S3654 [9MY] Cosponsors added, S3816 [21MY] S. 4308 — A bill to reform the antitrust laws to better protect competition in the American economy, to amend the Clayton Act to modify the standard for an unlawful acquisition, to deter anticompetitive exclusionary conduct that harms competition and consumers, to enhance the ability of the Department of Justice and the Federal Trade Commission to enforce the antitrust laws, and for other purposes; to the Committee on the Judiciary. By Ms. KLOBUCHAR (for herself, Mr. Blumenthal, Mr. Whitehouse, Ms. Hirono, Mr. Booker, Mr. Welch, Mr. Warner, Mr. Wyden, Mr. Heinrich, Mr. Markey, Mr. Schatz, and Ms. Smith), S3654 [9MY] S. 4309 — A bill to require the Secretary of Defense to conduct an evaluation of relocation assistance programs available to members of the Armed Forces; to the Committee on Armed Services. By Mr. RUBIO (for himself and Mr. Ossoff), S3654 [9MY] S. 4310 — A bill to exchange non-Federal land held by the Chugach Alaska Corporation for certain Federal Land in the Chugach Region, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. MURKOWSKI (for herself and Mr. Sullivan), S3654 [9MY] Text, S3656 [9MY] S. 4311 — A bill to limit funds to the United Nations and other organizations that provide any status, rights, or privileges beyond observer status to the Palestine Liberation Organization, and for other purposes; to the Committee on Foreign Relations. By Mr. RISCH (for himself, Mr. Barrasso, Mr. Graham, Mr. Cassidy, Mr. Lee, Mr. Cotton, Mr. Cornyn, Mr. Daines, Mr. Ricketts, Mr. Crapo, Mr. Hagerty, Mr. Cruz, Mrs. Fischer, Mrs. Hyde-Smith, Mr. Young, Mr. Romney, Mr. Hoeven, Mr. Scott of Florida, Ms. Lummis, Mr. Tillis, Mr. Rubio, Mr. Tuberville, Ms. Ernst, Mr. Thune, and Mr. Mullin), S3654 [9MY] S. 4312 — A bill to establish a United States Senate Commission on Mental Health for the purpose of providing to Congress and the President independent, expert policy recommendations to improve access to and affordability of mental health care services; to the Committee on Health, Education, Labor, and Pensions. By Mr. FETTERMAN (for himself and Ms. Smith), S3654 [9MY] S. 4313 — A bill to provide for the implementation of a system of licensing for purchasers of certain firearms and for a record of sale system for those firearms, and for other purposes; to the Committee on the Judiciary. By Ms. DUCKWORTH, S3654 [9MY] S. 4314 — A bill to establish the position of National Roadway Safety Advocate within the Department of Transportation, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LUJÁN, S3654 [9MY] S. 4315 — A bill to require Amtrak to install baby changing tables in all ADA-accessible bathrooms on passenger rail cars; to the Committee on Commerce, Science, and Transportation. By Mr. WELCH (for himself and Mrs. Blackburn), S3654 [9MY] S. 4316 — A bill to authorize urbanized area formula grants for service improvement and safety and security enhancement, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. VAN HOLLEN (for himself and Mr. Fetterman), S3654 [9MY] Cosponsors added, S3712 [15MY], S3886 [23MY] S. 4317 — A bill to appropriate funds for the Federal Communications Commission’s ‘‘rip and replace’’ program and Affordable Connectivity Program, to improve the Affordable Connectivity Program, to require a spectrum auction, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LUJÁN, S3654 [9MY] Cosponsors added, S3756 [16MY], S3781 [20MY], S3886 [23MY], S3932 [3JN], S4181 [20JN] S. 4318 — A bill to provide for an unmanned aircraft system (UAS) integration strategy; to the Committee on Commerce, Science, and Transportation. By Mr. PETERS, S3654 [9MY] S. 4319 — A bill to provide for progress reports on the national transition plan related to a fluorine-free firefighting foam; to the Committee on Commerce, Science, and Transportation. By Mr. PETERS, S3654 [9MY] S. 4320 — A bill to provide for the establishment of the Bessie Coleman Women in Aviation Advisory Committee; to the Committee on Commerce, Science, and Transportation. By Mr. PETERS, S3654 [9MY] S. 4321 — A bill to amend title 5, United States Code, to prohibit the payment of annuities and retired pay to individuals convicted of certain sex crimes; to the Committee on Homeland Security and Governmental Affairs. By Ms. ERNST (for herself, Mrs. Gillibrand, Mr. Kennedy, Mr. Crapo, Mr. Risch, Mr. Scott of Florida, Mrs. Blackburn, and Mr. Rubio), S3685 [14MY] Cosponsors added, S3756 [16MY], S3781 [20MY], S3856 [22MY] S. 4322 — A bill to amend title XVIII of the Social Security Act to make improvements relating to the designation of rural emergency hospitals; to the Committee on Finance. By Mr. MORAN (for himself and Ms. Smith), S3685 [14MY] Cosponsors added, S3932 [3JN], S3956 [4JN], S4056 [12JN] S. 4323 — A bill to amend title 38, United States Code, to expand eligibility for a housing loan guaranteed by the Secretary of Veterans Affairs to certain individuals who performed active duty for training; to the Committee on Veterans’ Affairs. By Mrs. SHAHEEN (for herself and Mr. Cramer), S3685 [14MY] Cosponsors added, S3856 [22MY] S. 4324 — A bill to terminate the Yucca Mountain licensing proceeding and require the Director of the Office of Management and Budget to submit to Congress a study on the economic viability and job-creating benefits of alternative uses of the Yucca Mountain site, and for other purposes; to the Committee on Environment and Public Works. By Ms. ROSEN (for herself and Ms. Cortez Masto), S3685 [14MY] S. 4325 — A bill to amend the Public Health Service Act to reauthorize the program relating to lifespan respite care, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. COLLINS (for herself and Ms. Baldwin), S3685 [14MY] Reported (no written report), S4152 [18JN] S. 4326 — A bill to amend the Internal Revenue Code of 1986 to modify the penalties relating to the disclosure of tax return information relating to contributors to certain tax-exempt organizations, and for other purposes; to the Committee on Finance. By Mr. YOUNG (for himself and Mr. Lankford), S3685 [14MY] S. 4327 — A bill to amend section 1977A of the Revised Statutes to equalize the remedies available under that section and to amend the Age Discrimination in Employment Act of 1967 to provide any legal or equitable relief available under title VII of the Civil Rights Act of 1964; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARKEY (for himself and Mr. Casey), S3685 [14MY] S. 4328 — A bill to require any labor organization that is or would be the collective bargaining representative for any employees to provide information regarding the amount of funds in any defined benefit plan of the labor organization before any labor organization election, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASSIDY, S3685 [14MY] S. 4329 — A bill to designate the facility of the United States Postal Service located at 103 Benedette Street in Rayville, Louisiana, as the ‘‘Luke Letlow Post Office Building’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. CASSIDY (for himself and Mr. Kennedy), S3685 [14MY] S. 4330 — A bill to amend Title XVIII of the Social Security Act to create a Radiation Oncology Case Rate Value Based Payment Program exempt from budget neutrality adjustment requirements, and to amend section 1128A of title XI of the Social Security Act to create a new statutory exception for the provision of free or discounted transportation for radiation oncology patients to receive radiation therapy services; to the Committee on Finance. By Mr. TILLIS, S3685 [14MY] Cosponsors added, S4056 [12JN] S. 4331 — A bill to amend the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to require that group health plans and health insurance issuers offering group or individual health insurance that provide coverage for mental health services and substance use disorder services provide such services without the imposition of cost-sharing from the diagnosis of pregnancy through the 1-year period following such pregnancy, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. SHAHEEN (for herself and Ms. Baldwin), S3685 [14MY] Cosponsors added, S3932 [3JN], S3992 [5JN] S. 4332 — A bill to amend title 38, United States Code, to require the Secretary of Veterans Affairs to improve telephone communication by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. SULLIVAN, S3685 [14MY] S. 4333 — A bill to provide for the discharge of parent borrower liability if a student on whose behalf a parent has received certain student loans becomes disabled; to the Committee on Health, Education, Labor, and Pensions. By Mr. VANCE (for himself, Mr. Coons, and Mr. Braun), S3685 [14MY] Cosponsors added, S3856 [22MY] S. 4334 — A bill to enhance the security operations of the Transportation Security Administration and stability of the transportation security workforce by applying the personnel system under title 5, United States Code, to employees of the Transportation Security Administration, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. SCHATZ (for himself, Mr. Peters, Mr. Casey, Mr. Warnock, Mr. Hickenlooper, Mr. Carper, Mr. Heinrich, Ms. Hirono, Ms. Klobuchar, Mr. Sanders, Mr. Fetterman, Ms. Stabenow, Ms. Cortez Masto, Mr. Kaine, Ms. Smith, Ms. Rosen, Ms. Duckworth, Mr. Padilla, Mr. Wyden, Mrs. Shaheen, Mr. Bennet, Ms. Butler, Mr. Merkley, Mr. Durbin, Mr. Tester, Mr. Blumenthal, Mr. Van Hollen, Ms. Warren, Ms. Hassan, and Mr. Cardin), S3685 [14MY] S. 4335 — A bill to ensure funds are available under the aviation workforce development grant program for technical assistance and to require consideration for certain applicants; to the Committee on Commerce, Science, and Transportation. By Mr. PETERS, S3686 [14MY] S. 4336 — A bill to prohibit the Secretary of Homeland Security from using Federal funds to establish the ICE Secure Docket Card program and to prohibit the use of documentation issued in connection with immigration proceedings to establish eligibility for Federal public benefits; to the Committee on Homeland Security and Governmental Affairs. By Mr. HAWLEY, S3686 [14MY] S. 4337 — A bill to provide for the expeditious delivery of defense articles and defense services for Israel, and for other purposes; to the Committee on Foreign Relations. By Mr. COTTON (for himself, Mr. Marshall, Ms. Ernst, Mr. Kennedy, Mr. Daines, Mrs. Hyde-Smith, Mr. Scott of Florida, Mr. Budd, Mr. Ricketts, Mr. Crapo, Mr. Barrasso, Ms. Lummis, Mrs. Fischer, Mr. Tillis, Mr. Cramer, Mrs. Britt, Mr. Graham, Mr. Lankford, Mr. Sullivan, Mr. Hawley, Mr. Hoeven, Mr. Rubio, Mr. Cruz, and Mr. Thune), S3710 [15MY] Cosponsors added, S3816 [21MY] S. 4338 — A bill to provide for the establishment of hybrid primary care payments under the Medicare program, and for other purposes; to the Committee on Finance. By Mr. WHITEHOUSE (for himself and Mr. Cassidy), S3710 [15MY] S. 4339 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to establish a grant program for law enforcement agencies, and for other purposes; to the Committee on the Judiciary. By Mrs. BLACKBURN (for herself and Mr. Hagerty), S3710 [15MY] S. 4340 — A bill to provide for accurate energy appraisals in connection with residential mortgage loans, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BENNET, S3710 [15MY] S. 4341 — A bill to require plain language and the inclusion of key words in covered notices that are clear, concise, and accessible to small business concerns, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. ERNST, S3710 [15MY] S. 4342 — A bill to amend the Consolidated Farm and Rural Development Act to reauthorize and expand the Rural Innovation Stronger Economy grant program; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WELCH (for himself and Mrs. Gillibrand), S3710 [15MY] S. 4343 — A bill to establish and maintain a coordinated program within the National Oceanic and Atmospheric Administration that improves wildfire, fire weather, fire risk, and smoke related forecasting, detection, modeling, observations, and service delivery, and to address growing needs in the wildland-urban interface, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. CANTWELL (for herself, Mr. Cruz, Mr. Luján, Mr. Sullivan, Ms. Rosen, Ms. Murkowski, Mr. Schatz, and Mr. Padilla), S3710 [15MY] S. 4344 — A bill to amend the Internal Revenue Code of 1986 to repeal the firearm transfer tax, and for other purposes; to the Committee on Finance. By Mr. COTTON (for himself, Mr. Ricketts, Mr. Cramer, Mr. Mullin, Mr. Marshall, Mr. Scott of Florida, Mr. Barrasso, Mr. Daines, Mrs. Blackburn, Mrs. Fischer, Ms. Lummis, Mr. Cornyn, and Mr. Rubio), S3710 [15MY] S. 4345 — A bill to amend the Cooperative Forestry Assistance Act of 1978 to reauthorize and expand State-wide assessments and strategies for forest resources; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. HICKENLOOPER (for himself and Mr. Marshall), S3710 [15MY] S. 4346 — A bill to direct the Secretary of Agriculture to provide assistance in support of nurseries and seed orchards, to establish a grant program in support of nurseries and seed orchards, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. HICKENLOOPER (for himself and Mr. Marshall), S3710 [15MY] S. 4347 — A bill to provide for the conveyance of certain Federal land at Swanson Reservoir and Hugh Butler Reservoir in the State of Nebraska, and for other purposes; to the Committee on Energy and Natural Resources. By Mrs. FISCHER (for herself, Mr. Ricketts, Mr. Marshall, and Mr. Moran), S3710 [15MY] S. 4348 — A bill to amend the Federal Power Act to prohibit the Federal Energy Regulatory Commission from issuing permits for the construction or modification of electric transmission facilities in a State over the objection of the State, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HAWLEY, S3710 [15MY] S. 4349 — A bill to require private health plans to provide for secure electronic transmission of prior authorization requests for prescription drugs; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARSHALL (for himself, Mr. Luján, Mr. Wicker, Mr. Manchin, and Mr. Whitehouse), S3710 [15MY] S. 4350 — A bill to amend title XVIII of the Social Security Act to extend acute hospital care at home waiver flexibilities; to the Committee on Finance. By Mr. CARPER (for himself, Mr. Scott of South Carolina, Ms. Smith, and Mr. Tillis), S3710 [15MY] S. 4351 — A bill to amend the Public Health Service Act to reauthorize certain poison control programs; to the Committee on Health, Education, Labor, and Pensions. By Mrs. MURRAY (for herself, Mr. Tuberville, Mr. Luján, and Mr. Romney), S3710 [15MY] Reported (no written report), S4152 [18JN] S. 4352 — A bill to amend the National Trails System Act to direct the Secretary of Agriculture to conduct a study on the feasibility of designating the Benton MacKaye Trail as a national scenic trail; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WARNOCK (for himself and Mr. Tillis), S3710 [15MY] S. 4353 — A bill to amend the Federal Crop Insurance Act to modify a provision relating to quality loss adjustment coverage; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. KENNEDY, S3754 [16MY] S. 4354 — A bill to designate the facility of the United States Postal Service located at 107 North Hoyne Avenue in Fritch, Texas, as the ‘‘Chief Zeb Smith Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. CRUZ (for himself and Mr. Cornyn), S3754 [16MY] S. 4355 — A bill to amend the Controlled Substances Act to prohibit the knowing possession of a pill press mold with intent to manufacture in violation of such Act a counterfeit substance in schedule I or II in a capsule, tablet, and other form intended for distribution, and for other purposes; to the Committee on the Judiciary. By Mr. CASSIDY (for himself and Ms. Hassan), S3754 [16MY] S. 4356 — A bill to facilitate the implementation of security measures undertaken by the United States Postal Service, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mrs. GILLIBRAND (for herself and Mr. Hawley), S3754 [16MY] S. 4357 — A bill to improve access to oral health care for vulnerable and underserved populations; to the Committee on Health, Education, Labor, and Pensions. By Mr. SANDERS (for himself and Mr. Brown), S3754 [16MY] S. 4358 — A bill to amend the Public Health Service Act to require the Secretary to establish a grant program under the Substance Abuse and Mental Health Services Administration to address substance use disorders among older adults, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself, Mr. Fetterman, Ms. Warren, Mr. Blumenthal, and Mrs. Gillibrand), S3754 [16MY] S. 4359 — A bill to amend the National Dam Safety Program Act to reauthorize that Act, and for other purposes; to the Committee on Environment and Public Works. By Mr. PADILLA (for himself and Mr. Cramer), S3754 [16MY] Reported (no written report), S3855 [22MY] S. 4360 — A bill to award a Congressional Gold Medal to Edward J. Dwight, Jr., the first African American astronaut candidate in the United States; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BENNET (for himself and Mr. Hickenlooper), S3754 [16MY] Cosponsors added, S3781 [20MY] S. 4361 — A bill making emergency supplemental appropriations for border security and combatting fentanyl for the fiscal year ending September 30, 2024, and for other purposes; read the first time. By Mr. MURPHY, S3754 [16MY] Read the first time, S3760 [16MY] Motion to proceed considered, S3783 [21MY], S3819 [22MY], S3862 [23MY] Amendments, S3817 [21MY], S3894, S3896 [23MY] Debated, S3862 [23MY] Senate failed to invoke cloture on motion to proceed, S3878 [23MY] S. 4362 — A bill to increase parking opportunities for persons recreating at Federal recreational lands and waters, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HICKENLOOPER, S3754 [16MY] Cosponsors added, S3781 [20MY] S. 4363 — A bill to secure the rights of public employees to organize, act concertedly, and bargain collectively, which safeguard the public interest and promote the free and unobstructed flow of commerce, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. HIRONO (for herself, Ms. Baldwin, Mr. Blumenthal, Mr. Booker, Mr. Brown, Ms. Butler, Ms. Cantwell, Mr. Cardin, Mr. Casey, Ms. Duckworth, Mr. Fetterman, Mrs. Gillibrand, Mr. Heinrich, Ms. Klobuchar, Mr. Luján, Mr. Markey, Mr. Merkley, Mrs. Murray, Mr. Padilla, Ms. Rosen, Mr. Reed, Mr. Sanders, Mr. Schatz, Mr. Schumer, Ms. Smith, Ms. Stabenow, Mr. Van Hollen, Ms. Warren, Mr. Welch, Mr. Whitehouse, and Mr. Wyden), S3754 [16MY] Cosponsors added, S3781 [20MY], S4020 [11JN] S. 4364 — A bill to modify the Alternatives to Detention program, and for other purposes; to the Committee on the Judiciary. By Mr. HAGERTY (for himself, Mr. Marshall, Mr. Scott of Florida, Mr. Daines, Mr. Cruz, Mrs. Blackburn, and Mr. Vance), S3754 [16MY] Cosponsors added, S3932 [3JN] S. 4365 — A bill to provide public health veterinary services to Indian Tribes and Tribal organizations for rabies prevention, and for other purposes; to the Committee on Indian Affairs. By Ms. MURKOWSKI, S3754 [16MY] S. 4366 — A bill to enhance intelligence community acquisitions, and for other purposes; to the Select Committee on Intelligence. By Mr. CORNYN (for himself, Mr. Warner, Mr. Kelly, and Mr. Lankford), S3754 [16MY] S. 4367 — A bill to provide for improvements to the rivers and harbors of the United States, to provide for the conservation and development of water and related resources, and for other purposes; to the Committee on Environment and Public Works. By Mr. CARPER (for himself, Mrs. Capito, Mr. Kelly, and Mr. Cramer), S3780 [20MY] Reported with amendment (no written report), S3855 [22MY] S. 4368 — A bill to amend title XIX of the Social Security Act to require, as a condition of receiving Federal Medicaid funding, that States do not prohibit in vitro fertilization (IVF) services, and for other purposes; to the Committee on Finance. By Mr. CRUZ (for himself and Mrs. Britt), S3780 [20MY] Cosponsors added, S3816 [21MY], S4021 [11JN] Removal of cosponsors, S3856 [22MY] Objection is heard to request for consideration, S4033 [12JN] S. 4369 — A bill to require the Director of the National Counterintelligence and Security Center to develop a strategy and conduct outreach to United States industry, including shipping companies, port operators, and logistics firms, on the risks of smartport technology of the People’s Republic of China and other related risks, and for other purposes; to the Select Committee on Intelligence. By Mr. CASEY (for himself, Mr. Cotton, and Mr. Kelly), S3780 [20MY] Removal of cosponsors, S3816 [21MY] S. 4370 — A bill to amend the Tribal Forest Protection Act of 2004 to improve that Act, and for other purposes; to the Committee on Indian Affairs. By Ms. MURKOWSKI, S3814 [21MY] S. 4371 — A bill to amend the Investor Protection and Securities Reform Act of 2010 to provide grants to States for enhanced protection of senior investors and senior policyholders, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. VAN HOLLEN (for himself and Mr. Warnock), S3814 [21MY] Cosponsors added, S3856 [22MY], S4181 [20JN] S. 4372 — A bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to pay costs associated with the delivery of automobiles or other conveyances to eligible persons, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. MURKOWSKI (for herself and Mr. Schatz), S3814 [21MY] S. 4373 — A bill to provide for congressional approval of national emergency declarations; to the Committee on Homeland Security and Governmental Affairs. By Mr. PAUL, S3814 [21MY] S. 4374 — A bill to amend the Older Americans Act of 1965 to include screening for loneliness and coordination of supportive services and health care to address the negative health effects of loneliness, to require a report on loneliness, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. RUBIO (for himself, Ms. Smith, and Mr. Scott of Florida), S3814 [21MY] Cosponsors added, S3956 [4JN] S. 4375 — A bill to establish a critical supply chain resiliency and crisis response program in the Department of Commerce, and to secure American leadership in deploying emerging technologies, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. CANTWELL (for herself and Mrs. Blackburn), S3814 [21MY] S. 4376 — A bill to increase Government accountability for administrative actions by reinvigorating administrative Pay-As-You-Go; to the Committee on Homeland Security and Governmental Affairs. By Mr. BRAUN, S3814 [21MY] S. 4377 — A bill to require U.S. Citizenship and Immigration Services to facilitate naturalization services for noncitizen veterans who have been removed from the United States or are inadmissible; to the Committee on the Judiciary. By Ms. DUCKWORTH (for herself and Mr. Blumenthal), S3814 [21MY] Cosponsors added, S3993 [5JN] S. 4378 — A bill to require on-time delivery of periodicals to unlock additional rate authority, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. WELCH (for himself, Mr. Rounds, Ms. Klobuchar, Mr. Cramer, Mr. Wyden, Mr. Hoeven, Mr. Merkley, Ms. Smith, and Mr. Sanders), S3814 [21MY] S. 4379 — A bill to amend the Higher Education Act of 1965 to change certain grant requirements for certain students with disabilities, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself, Mr. Van Hollen, and Mr. Booker), S3815 [21MY] S. 4380 — A bill to amend the Higher Education Act of 1965 to promote matriculation, and increase in the graduation rates, of individuals with disabilities within higher education; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself, Ms. Butler, Mr. Van Hollen, Mr. Padilla, and Mr. Booker), S3815 [21MY] S. 4381 — A bill to protect an individual’s ability to access contraceptives and to engage in contraception and to protect a health care provider’s ability to provide contraceptives, contraception, and information related to contraception; read the first time. By Mr. MARKEY (for himself, Ms. Baldwin, Mr. Bennet, Mr. Blumenthal, Mr. Booker, Mr. Brown, Ms. Butler, Ms. Cantwell, Mr. Cardin, Mr. Carper, Mr. Casey, Mr. Coons, Ms. Cortez Masto, Ms. Duckworth, Mr. Durbin, Mr. Fetterman, Mrs. Gillibrand, Ms. Hassan, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. Kaine, Mr. Kelly, Mr. King, Ms. Klobuchar, Mr. Luján, Mr. Menendez, Mr. Merkley, Mr. Murphy, Mrs. Murray, Mr. Ossoff, Mr. Padilla, Mr. Peters, Mr. Reed, Ms. Rosen, Mr. Sanders, Mr. Schatz, Mr. Schumer, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Tester, Mr. Van Hollen, Mr. Warner, Mr. Warnock, Ms. Warren, Mr. Welch, Mr. Whitehouse, and Mr. Wyden), S3815 [21MY] Read the first time, S3800 [21MY] Placed on the calendar, S3819 [22MY] Motion to proceed considered, S3915 [3JN], S3971 [5JN] Amendments, S3960 [4JN] Senate failed to invoke cloture on motion to proceed to the measure, S3982 [5JN] Motion to table motion to proceed to measure agreed to, S3983 [5JN] S. 4382 — A bill to amend the Water Resources Development Act of 1992 to provide for environmental infrastructure in East Point, Georgia; to the Committee on Environment and Public Works. By Mr. OSSOFF, S3815 [21MY] S. 4383 — A bill to amend the Water Resources Development Act of 1992 to provide for environmental infrastructure in coastal Georgia; to the Committee on Environment and Public Works. By Mr. OSSOFF (for himself and Mr. Warnock), S3815 [21MY] S. 4384 — A bill to amend the Water Resources Development Act of 1992 to provide for environmental infrastructure in Columbus, Henry, and Clayton Counties, Georgia; to the Committee on Environment and Public Works. By Mr. OSSOFF, S3815 [21MY] S. 4385 — A bill to reform pattern or practice investigations conducted by the Department of Justice, and for other purposes; to the Committee on the Judiciary. By Ms. WARREN (for herself, Ms. Hirono, Ms. Duckworth, Mr. Wyden, Mr. Sanders, Mr. Merkley, Mr. Van Hollen, Mr. Booker, Mr. Welch, and Mr. Markey), S3855 [22MY] S. 4386 — A bill to amend the Agricultural Research, Extension, and Education Reform Act of 1998 to direct the Secretary of Agriculture to establish a program under which the Secretary shall award competitive grants to eligible entities for the purpose of establishing and enhancing farming and ranching opportunities for veterans, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. MORAN, S3855 [22MY] S. 4387 — A bill to prohibit transportation of any alien using certain methods of identification; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S3855 [22MY] Objection is heard to request for consideration, S3844 [22MY] Cosponsors added, S3993 [5JN], S4086 [13JN], S4154 [18JN] S. 4388 — A bill to improve the administration of justice by requiring written explanations by the Supreme Court of its decisions and the disclosure of votes by justices in cases within the appellate jurisdiction of the Supreme Court that involve injunctive relief, and for other purposes; to the Committee on the Judiciary. By Mr. BLUMENTHAL (for himself, Mr. Booker, Mr. Padilla, Mr. Welch, Ms. Hirono, Mr. Sanders, Ms. Smith, Mr. Wyden, Mr. Merkley, Ms. Klobuchar, Mr. Schumer, Mr. Whitehouse, and Mr. Durbin), S3855 [22MY] S. 4389 — A bill to amend the Internal Revenue Code of 1986 to promote the increased use of renewable natural gas, to reduce greenhouse gas emissions and other harmful transportation-related emissions that contribute to poor air quality, and to increase job creation and economic opportunity throughout the United States; to the Committee on Finance. By Mr. TILLIS (for himself and Mr. Warner), S3855 [22MY] S. 4390 — A bill to amend title 5, United States Code, to prohibit the President, Vice President, Members of Congress, and other senior Executive branch personnel from accepting any foreign emoluments, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. BLUMENTHAL, S3855 [22MY] S. 4391 — A bill to amend the Workforce Innovation and Opportunity Act to recognize digital skills and digital literacy as critical adult education and literacy objectives, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. COLLINS (for herself and Mr. Kaine), S3855 [22MY] S. 4392 — A bill to establish the Southern Border Wall Construction Fund and to transfer unobligated amounts from the Coronavirus State and local fiscal recovery funds to such Fund to construct and maintain physical barriers along the southern border; to the Committee on Finance. By Mr. BARRASSO (for himself, Mr. Scott of South Carolina, Mr. Cotton, Ms. Lummis, Mr. Marshall, Mr. Lankford, Mr. Risch, and Ms. Ernst), S3855 [22MY] Objection is heard to request for consideration, S3858 [22MY] S. 4393 — A bill to provide protections for children in immigration custody, and for other purposes; to the Committee on the Judiciary. By Mr. MERKLEY (for himself, Mr. Durbin, Mrs. Gillibrand, Mr. Wyden, Ms. Warren, Mr. Schatz, Mr. Markey, Ms. Klobuchar, Mr. Sanders, Ms. Hirono, and Ms. Duckworth), S3855 [22MY] S. 4394 — A bill to support National Science Foundation education and professional development relating to artificial intelligence; to the Committee on Commerce, Science, and Transportation. By Ms. CANTWELL (for herself and Mr. Moran), S3855 [22MY] S. 4395 — A bill to amend title XVIII of the Social Security Act to establish a floor on the work geographic index for physicians’ services furnished in Hawaii; to the Committee on Finance. By Mr. SCHATZ (for himself and Ms. Hirono), S3883 [23MY] S. 4396 — A bill to amend title 38, United States Code, to authorize an individual who is awarded the Purple Heart for service in the Armed Forces to transfer unused Post-9/11 Educational Assistance to a family member, and for other purposes; to the Committee on Veterans’ Affairs. By Mrs. MURRAY (for herself and Mr. Tillis), S3883 [23MY] Cosponsors added, S3993 [5JN], S4021 [11JN] S. 4397 — A bill to amend the Elementary and Secondary Education Act of 1965 to provide criteria for use of Federal funds to support trauma-informed practices in schools, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. SMITH, S3883 [23MY] S. 4398 — A bill to amend the Internal Revenue Code of 1986 to provide for a microemployer pension plan startup credit; to the Committee on Finance. By Ms. HASSAN (for herself and Mr. Budd), S3883 [23MY] S. 4399 — A bill to amend the Child Abuse Prevention and Treatment Act to provide for better protections for children raised in kinship families outside of the foster care system; to the Committee on Health, Education, Labor, and Pensions. By Ms. HASSAN (for herself and Ms. Collins), S3883 [23MY] S. 4400 — A bill to require the Securities and Exchange Commission to carry out a study and rulemaking on the definition of the term ‘‘small entity’’ for purposes of the securities laws, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mrs. BRITT, S3883 [23MY] S. 4401 — A bill to require the Administrator of the Small Business Administration to ensure that the small business regulatory budget for a fiscal year is not greater than zero, and for other purposes; to the Committee on Small Business and Entrepreneurship. By Mr. MARSHALL (for himself, Mrs. Britt, Mr. Budd, Mr. Braun, and Mr. Scott of Florida), S3883 [23MY] S. 4402 — A bill to establish the Benjamin Harrison National Recreation Area and Wilderness in the State of Indiana, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BRAUN, S3883 [23MY] S. 4403 — A bill to amend the Radiation Exposure Compensation Act to revise the definition of ‘‘affected area’’ and extend the period in which compensation may be provided, and for other purposes; to the Committee on the Judiciary. By Mr. LEE, S3883 [23MY] Objection is heard to request for consideration, S3874 [23MY] S. 4404 — A bill to designate the facility of the United States Postal Service located at 840 Front Street in Casselton, North Dakota, as the ‘‘Commander Delbert Austin Olson Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. CRAMER (for himself and Mr. Hoeven), S3883 [23MY] S. 4405 — A bill to amend the Clean Air Act to repeal the natural gas tax; to the Committee on Environment and Public Works. By Mr. CRUZ (for himself, Mr. Marshall, Mr. Lee, Mr. Ricketts, Mrs. Hyde-Smith, Mr. Hoeven, Mrs. Britt, Mr. Braun, Mr. Tuberville, Mr. Vance, Mr. Cotton, and Mr. Barrasso), S3883 [23MY] S. 4406 — A bill to eliminate certain subsidies for fossil-fuel production; to the Committee on Finance. By Mr. SANDERS (for himself, Mr. Merkley, Mr. Booker, Mr. Van Hollen, Mr. Welch, Ms. Warren, and Mr. Markey), S3883 [23MY] S. 4407 — A bill to effectively staff the high-need public elementary schools and secondary schools of the United States with school-based mental health services providers; to the Committee on Health, Education, Labor, and Pensions. By Mr. MERKLEY (for himself, Mr. Bennet, Mr. Blumenthal, Mr. Booker, Mr. Brown, Ms. Butler, Mr. Casey, Mr. Coons, Mr. Durbin, Mr. Fetterman, Mr. Heinrich, Ms. Hirono, Mr. Kaine, Mr. King, Ms. Klobuchar, Mr. Murphy, Mr. Padilla, Mr. Reed, Mrs. Shaheen, Ms. Smith, Mr. Van Hollen, and Mr. Wyden), S3883 [23MY] S. 4408 — A bill to ensure the timely approval of requests to export defense articles and provide defense services to the State of Israel and the fulfillment of each such agreement; to the Committee on Foreign Relations. By Mr. CRUZ (for himself, Mr. Scott of Florida, Mr. Hoeven, and Mr. Cornyn), S3883 [23MY] S. 4409 — A bill to prohibit the disclosure of intimate digital depictions, and for other purposes; to the Committee on the Judiciary. By Ms. HASSAN (for herself, Mr. Cornyn, Ms. Butler, and Mr. King), S3883 [23MY] S. 4410 — A bill to prohibit United States cooperation with the International Criminal Court, the use of the Economic Support Fund to support the Palestinian Authority, and any Federal funding for the ICC; to the Committee on Foreign Relations. By Mr. SULLIVAN, S3883 [23MY] S. 4411 — A bill to require Transmission Organizations to allow aggregators of retail customers to submit to organized wholesale electric markets bids that aggregate demand flexibility of customers of certain utilities, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. DURBIN, S3883 [23MY] Text, S3886 [23MY] S. 4412 — A bill to require pre-merger notification to identify entities subject to a collective bargaining agreement and affected labor organizations, to require post-merger monitoring for anticompetitive effects and antitrust violations, and for other purposes; to the Committee on the Judiciary. By Ms. BALDWIN, S3883 [23MY] S. 4413 — A bill to provide for the establishment of a National Synthetic Biology Center, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. YOUNG (for himself and Mr. Padilla), S3883 [23MY] S. 4414 — A bill to improve the State Trade Expansion Program of the Small Business Administration; from the Committee on Small Business and Entrepreneurship. By Mrs. SHAHEEN, S3883 [23MY] Reported (no written report), S3883 [23MY] S. 4415 — A bill to require the Secretary of Defense to establish a medical readiness program in the Indo-Pacific region, and for other purposes; to the Committee on Armed Services. By Ms. DUCKWORTH, S3883 [23MY] S. 4416 — A bill to designate the Special Guerilla Unit National Memorial at Veterans Memorial Park in Middletown, Connecticut; to the Committee on Energy and Natural Resources. By Mr. BLUMENTHAL, S3883 [23MY] S. 4417 — A bill to amend the Small Business Act to require training on increasing contract awards to small business concerns owned and controlled by service-disabled veterans, and for other purposes; to the Committee on Small Business and Entrepreneurship. By Mr. KENNEDY, S3883 [23MY] S. 4418 — A bill to require the United States Executive Director at the International Monetary Fund to advocate for increased transparency with respect to exchange rate policies of the People’s Republic of China, and for other purposes; to the Committee on Foreign Relations. By Mr. RUBIO (for himself and Ms. Baldwin), S3883 [23MY] S. 4419 — A bill to require the Science and Technology Directorate in the Department of Homeland Security to develop greater capacity to detect, identify, and disrupt illicit substances in very low concentrations; to the Committee on Homeland Security and Governmental Affairs. By Mr. CORNYN (for himself, Mr. Ossoff, Ms. Sinema, and Mr. Lankford), S3884 [23MY] S. 4420 — A bill to improve connections between the Department of Agriculture and national and homeland security agencies, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. PADILLA (for himself and Mr. Young), S3884 [23MY] S. 4421 — A bill to establish the Office of Biotechnology Policy in the Department of Agriculture, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. PADILLA (for himself and Mr. Young), S3884 [23MY] S. 4422 — A bill to require original equipment manufacturers of digital electronic equipment to make available certain documentation, diagnostic, and repair information to independent repair providers, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LUJÁN (for himself and Mr. Wyden), S3884 [23MY] S. 4423 — A bill to amend title 38, United States Code, to improve the provision of direct housing loans and medical care from the Department of Veterans Affairs for Native Hawaiians; to the Committee on Veterans’ Affairs. By Ms. HIRONO (for herself and Mr. Schatz), S3884 [23MY] S. 4424 — A bill to direct the Secretary of the Interior and the Secretary of Agriculture to encourage and expand the use of prescribed fire on land managed by the Department of the interior or the Forest Service, with an emphasis on units of the National Forest System in the western United States, to acknowledge and support the longstanding use of cultural burning by Tribes and Indigenous practitioners, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. WYDEN (for himself and Mr. Padilla), S3884 [23MY] S. 4425 — A bill to support democracy and the rule of law in Georgia, and for other purposes; to the Committee on Foreign Relations. By Mrs. SHAHEEN (for herself, Mr. Risch, Mr. Cardin, Mr. Ricketts, Mr. Graham, and Mr. Coons), S3884 [23MY] Cosponsors added, S3956 [4JN], S4181 [20JN] S. 4426 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish a time-limited conditional approval pathway, subject to specific obligations, for certain drugs and biological products, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BRAUN (for himself, Mrs. Gillibrand, Mr. Cramer, Mr. Manchin, Mr. Schmitt, Mr. Padilla, Mr. Vance, Mr. Booker, Mr. Hawley, Mr. Welch, and Ms. Murkowski), S3884 [23MY] S. 4427 — A bill to provide for Department of Energy and Small Business Administration joint research and development activities, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. KENNEDY, S3884 [23MY] S. 4428 — A bill to establish an interagency committee to coordinate activities of the Federal Government relating to biotechnology oversight, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. YOUNG (for himself and Mr. Padilla), S3884 [23MY] S. 4429 — A bill to require the Secretary of Health and Human Services to provide grants to demonstrate pharmacy-based addiction care programs; to the Committee on Health, Education, Labor, and Pensions. By Mr. BOOKER (for himself, Mr. Braun, and Mr. Markey), S3884 [23MY] S. 4430 — A bill to amend title XIX of the Social Security Act to establish a Health Engagement Hub demonstration program to increase access to treatment for opiate use disorder and other drug use treatment, and for other purposes; to the Committee on Finance. By Ms. CANTWELL (for herself and Mr. Cassidy), S3884 [23MY] S. 4431 — A bill to reinstate the Bull Mountains Mining Plan Modification, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. DAINES, S3884 [23MY] S. 4432 — A bill to allow certain Federal minerals to be mined consistent with the Bull Mountains Mining Plan Modification; to the Committee on Energy and Natural Resources. By Mr. DAINES, S3884 [23MY] S. 4433 — A bill to enhance United States cooperation with European countries to improve the security of Taiwan, and for other purposes; to the Committee on Foreign Relations. By Mr. RICKETTS (for himself and Mrs. Shaheen), S3884 [23MY] S. 4434 — A bill to improve retrospective reviews of Federal regulations, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. LEE (for himself and Ms. Lummis), S3884 [23MY] Cosponsors added, S3932 [3JN] S. 4435 — A bill to limit and eliminate excessive, hidden, and unnecessary fees imposed on incarcerated individuals and their families, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. BOOKER (for himself and Ms. Warren), S3884 [23MY] S. 4436 — A bill to improve the safety of infant formula through testing of infant formula for microorganisms and toxic elements, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. PETERS (for himself and Mr. Hoeven), S3930 [3JN] S. 4437 — A bill to require the Secretary of Veterans Affairs to carry out a pilot program to coordinate, navigate, and manage care and benefits for veterans enrolled in both the Medicare program and the system of annual patient enrollment of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. MORAN (for himself and Mr. King), S3930 [3JN] S. 4438 — A bill to expand the categories of forfeited property available to remediate harms to Ukraine from Russian aggression, and for other purposes; to the Committee on Foreign Relations. By Mr. MANCHIN (for himself and Mr. Graham), S3930 [3JN] S. 4439 — A bill to require the Assistant Secretary of Financial Markets of the Department of the Treasury to brief certain Senate committees on the debt issuance of the Department; to the Committee on Finance. By Mr. HAGERTY, S3930 [3JN] S. 4440 — A bill to authorize additional monies to the Public Housing Capital Fund of the Department of Housing and Urban Development, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Ms. WARREN (for herself, Mr. Blumenthal, Mr. Booker, Mr. Durbin, Ms. Smith, Mr. Padilla, Mr. Sanders, Mr. Markey, and Mr. Murphy), S3930 [3JN] S. 4441 — A bill to amend the Consolidated Farm and Rural Development Act to provide for a pilot program under which development loans and loan guarantees may be made to beginning farmers and ranchers, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WELCH, S3930 [3JN] S. 4442 — A bill to amend the Crow Tribe Water Rights Settlement Act of 2010 to make improvements to that Act, and for other purposes; to the Committee on Indian Affairs. By Mr. TESTER (for himself and Mr. Daines), S3930 [3JN] S. 4443 — A bill to authorize appropriations for fiscal year 2025 for intelligence and intelligence-related activities of the United States Government, the Intelligence Community Management Account, and the Central Intelligence Agency Retirement and Disability System, and for other purposes; from the Select Committee on Intelligence. By Mr. WARNER, S3930 [3JN] Reported (no written report), S3930 [3JN] Report to accompany (S. Rept. 118–181), S4053 [12JN] S. 4444 — A bill to take certain mineral interests into trust for the benefit of the Crow Tribe of Montana, and for other purposes; to the Committee on Indian Affairs. By Mr. DAINES, S3930 [3JN] S. 4445 — A bill to protect and expand nationwide access to fertility treatment, including in vitro fertilization. By Ms. DUCKWORTH (for herself, Mrs. Murray, Mr. Booker, and Mr. Schumer), S3930 [3JN] Read the second time. Placed on the calendar, S3937 [4JN] Cosponsors added, S3956 [4JN], S3993 [5JN], S4021 [11JN], S4056 [12JN] Motion to proceed considered, S3983 [5JN] Motion to proceed, S4067 [13JN] S. 4446 — A bill to amend the National Construction Safety Team Act to enable the National Institute of Standards and Technology to investigate structures other than buildings to inform the development of engineering standards, best practices, and building codes related to such structures, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CORNYN (for himself and Ms. Klobuchar), S3954 [4JN] S. 4447 — A bill to allow women greater access to safe and effective oral contraceptive drugs intended for routine use, and to direct the Comptroller General of the United States to conduct a study on Federal funding of contraceptive methods; read the first time. By Ms. ERNST (for herself, Mr. Grassley, Mrs. Capito, Mr. Daines, Mr. Young, Mr. Tillis, Mr. Cruz, Mr. McConnell, Mr. Risch, and Mr. Cornyn), S3954 [4JN] Read the first time, S3961 [4JN] Read the second time. Placed on the calendar, S3979 [5JN] Objection is heard to request for consideration, S3979 [5JN] Cosponsors added, S3993 [5JN], S4056 [12JN] S. 4448 — A bill to provide for the automatic acquisition of United States citizenship for certain internationally adopted individuals, and for other purposes; to the Committee on the Judiciary. By Ms. HIRONO (for herself, Ms. Collins, Ms. Klobuchar, Ms. Murkowski, Ms. Warren, Mr. Wicker, Ms. Duckworth, and Mr. Braun), S3954 [4JN] S. 4449 — A bill to amend the Wild and Scenic Rivers Act to designate certain river segments in the State of Oregon as components of the National Wild and Scenic Rivers System, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. WYDEN (for himself and Mr. Merkley), S3954 [4JN] S. 4450 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide education assistance to public safety officers, and for other purposes; to the Committee on the Judiciary. By Mr. KELLY (for himself and Mr. Hawley), S3954 [4JN] S. 4451 — A bill to require the Secretary of the Interior to enter into an agreement with the National Academy of Sciences to carry out a study on reservation systems for Federal land; to the Committee on Energy and Natural Resources. By Mr. PADILLA, S3954 [4JN] S. 4452 — A bill to amend title 23, United States Code, to improve the safety of children purchasing food items from frozen dessert trucks; to the Committee on Commerce, Science, and Transportation. By Mr. BLUMENTHAL, S3954 [4JN] S. 4453 — A bill to require the United States Postal Service to implement recommendations from the Inspector General of the United States Postal Service for decreasing instances of delayed mail and improving staffing and training, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. KLOBUCHAR, S3954 [4JN] S. 4454 — A bill to provide for the establishment of an Operational Flexibility Grazing Management Program on land managed by the Bureau of Land Management, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. BARRASSO (for himself and Mr. Wyden), S3954 [4JN] S. 4455 — A bill to amend the Fair Credit Reporting Act to prohibit consumer reporting agencies from furnishing consumer reports containing adverse items of information about a consumer that resulted from that consumer being unlawfully or wrongfully detained abroad or held hostage abroad; to the Committee on Banking, Housing, and Urban Affairs. By Mr. COONS (for himself and Mr. Tillis), S3954 [4JN] S. 4456 — A bill to amend the Granger-Thye Act to modify the maximum term for certain special use permits for housing; to the Committee on Energy and Natural Resources. By Mr. BARRASSO, S3954 [4JN] S. 4457 — A bill to provide for conservation and economic development in the State of Nevada, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. CORTEZ MASTO, S3954 [4JN] S. 4458 — A bill to reauthorize the Reclamation Rural Water Supply Act of 2006, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. ROUNDS (for himself and Ms. Klobuchar), S3954 [4JN] Cosponsors added, S4181 [20JN] S. 4459 — A bill to amend section 301 of the Immigration and Nationality Act to clarify those classes of individuals born in the United States who are not nationals or citizens of the United States at birth; to the Committee on the Judiciary. By Mr. COTTON (for himself, Mr. Vance, Mrs. Blackburn, and Mr. Cruz), S3990 [5JN] Cosponsors added, S4021 [11JN] S. 4460 — A bill to reduce regulatory barriers to housing, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. FETTERMAN, S3990 [5JN] S. 4461 — A bill to amend the National Voter Registration Act of 1993 to require each State to implement a process under which individuals who are 16 years of age may apply to register to vote in elections for Federal office in the State, to direct the Election Assistance Commission to make grants to States to increase the involvement of minors in public election activities, and for other purposes; to the Committee on Rules and Administration. By Ms. DUCKWORTH (for herself, Mr. Padilla, Mr. Welch, Mr. Blumenthal, Mr. Booker, Ms. Hirono, and Mr. Whitehouse), S3990 [5JN] S. 4462 — A bill to provide for the establishment of a National Interagency Seed and Restoration Center, and for other purposes; to the Committee on Environment and Public Works. By Ms. HIRONO, S3990 [5JN] S. 4463 — A bill to abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. LEE, S3990 [5JN] S. 4464 — A bill to require the United States Postal Service to apply certain requirements when closing a processing, shipping, delivery, or other facility supporting a post office, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. ROUNDS (for himself, Mr. Durbin, Mrs. Hyde-Smith, Ms. Klobuchar, Mr. Wicker, Mr. Heinrich, Mr. Cramer, Ms. Smith, and Mr. Welch), S3990 [5JN] Cosponsors added, S4021 [11JN], S4181 [20JN] S. 4465 — A bill to reauthorize the Uyghur Human Rights Policy Act of 2020; to the Committee on Foreign Relations. By Mr. RUBIO (for himself and Mr. Merkley), S3990 [5JN] S. 4466 — A bill to direct the Attorney General to prepare a report on the Department of Justice activities related to countering Chinese national security threats, and for other purposes; to the Committee on the Judiciary. By Mrs. BLACKBURN (for herself and Mr. Peters), S3990 [5JN] S. 4467 — A bill to reauthorize the Hong Kong Human Rights and Democracy Act of 2019; to the Committee on Foreign Relations. By Mr. RUBIO, S3990 [5JN] S. 4468 — A bill to prohibit the use of Federal funds to finalize, implement, or enforce the interim final rule of the Bureau of Industry and Security of the Department of Commerce entitled ‘‘Revision of Firearms License Requirements’’; to the Committee on Banking, Housing, and Urban Affairs. By Mr. LEE, S3990 [5JN] S. 4469 — A bill to improve the understanding of, and promote access to treatment for, chronic kidney disease, and for other purposes; to the Committee on Finance. By Mr. CARDIN (for himself and Mrs. Blackburn), S3991 [5JN] S. 4470 — A bill to amend the Workforce Innovation and Opportunity Act to provide training services linked to employment demand through skills training grants, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE, S3991 [5JN] S. 4471 — A bill to amend part B of title IV of the Social Security Act to support State implementation of Federal standards established under the Indian Child Welfare Act of 1978; to the Committee on Finance. By Ms. BALDWIN, S3991 [5JN] S. 4472 — A bill to amend the Federal Agriculture Improvement and Reform Act of 1996 with respect to transitioning producers from the noninsured crop assistance program to the whole farm revenue insurance plan; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BLUMENTHAL (for himself and Mr. Murphy), S3991 [5JN] S. 4473 — A bill to limit the definition of commercial in title 9, United States Code; to the Committee on the Judiciary. By Mr. BLUMENTHAL, S3991 [5JN] S. 4474 — A bill to amend the Juvenile Justice and Delinquency Prevention Act of 1974 to eliminate the use of valid court orders to secure lockup of status offenders, and for other purposes; to the Committee on the Judiciary. By Mr. CASEY, S3991 [5JN] S. 4475 — A bill to establish a Special Envoy for Sudan, and for other purposes; to the Committee on Foreign Relations. By Mr. KAINE (for himself and Mr. Warner), S3991 [5JN] S. 4476 — A bill to require additional disclosures with respect to nominees to serve as chiefs of mission, and for other purposes; to the Committee on Foreign Relations. By Mr. KAINE (for himself, Mr. Van Hollen, and Mr. Merkley), S3991 [5JN] S. 4477 — A bill to reauthorize the Second Chance Act of 2007; to the Committee on the Judiciary. By Mrs. CAPITO (for herself, Mr. Booker, Mr. Cornyn, Mr. Durbin, Mr. Tillis, Mr. Welch, Mr. Cramer, and Ms. Klobuchar), S3991 [5JN] S. 4478 — A bill to amend title 49, United States Code, to prohibit access by certain individuals to certain areas of airports, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. RUBIO (for himself and Mr. Scott of Florida), S3991 [5JN] S. 4479 — A bill to require training on the Constitution of the United States for commissioned officers of the Armed Forces; to the Committee on Armed Services. By Mr. CRUZ (for himself and Mr. Kaine), S3991 [5JN] S. 4480 — A bill to direct the Secretary of Agriculture to establish a program to provide to rural communities technical assistance in recovering from disasters, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WELCH (for himself, Mr. Sanders, and Mrs. Shaheen), S3991 [5JN] S. 4481 — A bill to strengthen requirements for contracts between the Department of Education and Federal student loan servicers, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. WYDEN (for himself, Ms. Klobuchar, Mr. Van Hollen, and Mr. Padilla), S3991 [5JN] S. 4482 — A bill to require the Secretary of Defense to develop, in cooperation with allies and partners in the Middle East, an integrated space and satellite security capability, and for other purposes; to the Committee on Foreign Relations. By Ms. ROSEN (for herself and Ms. Ernst), S3991 [5JN] S. 4483 — A bill to extend, and repeal the waiver authority under, the Protecting Europe’s Energy Security Act of 2019; to the Committee on Foreign Relations. By Mr. CRUZ (for himself, Mr. Barrasso, Mr. Cotton, and Mr. Risch), S3991 [5JN] S. 4484 — A bill to impose sanctions with respect to foreign persons of the International Criminal Court engaged in any effort to investigate, arrest, detain, or prosecute any protected person of the United States and its allies, and for other purposes; to the Committee on Foreign Relations. By Mr. COTTON (for himself, Mr. McConnell, Mr. Risch, Mr. Graham, Mr. Scott of South Carolina, Mr. Rubio, Mr. Cruz, Ms. Collins, Mr. Sullivan, and Mr. Ricketts), S3991 [5JN] Cosponsors added, S4021 [11JN], S4056 [12JN] S. 4485 — A bill to amend chapter 8 of title 5, United States Code, to provide for en bloc consideration in resolutions of disapproval for ‘‘midnight rules’’, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. JOHNSON (for himself, Mr. Lee, Mrs. Blackburn, Mr. Braun, Ms. Lummis, Mr. Rubio, Mr. Schmitt, and Mr. Scott of Florida), S3991 [5JN] S. 4486 — A bill to strengthen provisions relating to employment transparency regarding individuals who perform work in the People’s Republic of China; to the Committee on Armed Services. By Mr. SCHMITT, S3991 [5JN] S. 4487 — A bill to require the Secretary of Commerce to develop artificial intelligence training resources and toolkits for United States small businesses, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Ms. CANTWELL (for herself and Mr. Moran), S4018 [11JN] S. 4488 — A bill to amend the Agriculture and Consumer Protection Act of 1973 to establish a pilot program to award grants to facilitate home delivery of commodities under the commodity supplemental food program, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. KELLY (for himself and Mr. Braun), S4018 [11JN] S. 4489 — A bill to designate the Federal building located at 50 United Nations Plaza in San Francisco, California, as the ‘‘Senator Dianne Feinstein Federal Building,’&rsquo, and for other purposes; to the Committee on Environment and Public Works. By Mr. PADILLA (for himself and Ms. Butler), S4018 [11JN] S. 4490 — A bill to amend the Workforce Innovation and Opportunity Act to increase the funds available to Governors for statewide youth workforce investment activities, and statewide adult and dislocated worker employment and training activities; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASSIDY, S4018 [11JN] S. 4491 — A bill to amend title 10, United States Code, to provide for an operational and training deferment for parents; to the Committee on Armed Services. By Mr. OSSOFF, S4018 [11JN] S. 4492 — A bill to improve the transparency of Amtrak operations, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. FISCHER, S4018 [11JN] S. 4493 — A bill to amend the Securities Exchange Act of 1934 to create a safe harbor for finders and private placement brokers, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. CRAMER, S4018 [11JN] S. 4494 — A bill to amend the Workforce Innovation and Opportunity Act to improve the provisions relating to providers of training services; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASSIDY, S4018 [11JN] S. 4495 — A bill to enable safe, responsible, and agile procurement, development, and use of artificial intelligence by the Federal Government, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. PETERS (for himself and Mr. Tillis), S4018 [11JN] S. 4496 — A bill to expand the authorities of the Office of Strategic Capital of the Department of Defense; to the Committee on Armed Services. By Mr. ROMNEY (for himself and Mrs. Shaheen), S4018 [11JN] S. 4497 — A bill to amend the Workforce Innovation and Opportunity Act to authorize the use of individual training accounts for certain youth; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASSIDY, S4018 [11JN] S. 4498 — A bill to amend the Workforce Innovation and Opportunity Act to extend State plans and other plans from a 4-year period to a 5-year period, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. MULLIN, S4018 [11JN] S. 4499 — A bill to reauthorize grants to the Girl Scouts of the United States of America, the Boy Scouts of America, the National 4-H Council, and the National FFA Organization to establish pilot projects to expand the programs carried out by the organizations in rural areas and small towns, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. YOUNG (for himself, Mr. Coons, Mrs. Capito, Mr. King, Mr. Ricketts, Mr. Hickenlooper, Mr. Braun, Mr. Tester, Mr. Hagerty, and Mrs. Hyde-Smith), S4018 [11JN] Cosponsors added, S4181 [20JN] S. 4500 — A bill to modify operations of the National Water Center of the National Oceanic and Atmospheric Administration, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. BRITT (for herself and Mr. Welch), S4018 [11JN] S. 4501 — A bill to amend the Workforce Innovation and Opportunity Act to improve the performance accountability system; to the Committee on Health, Education, Labor, and Pensions. By Mr. MULLIN, S4018 [11JN] S. 4502 — A bill to prohibit forced arbitration in work disputes, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. MURRAY (for herself, Mr. Blumenthal, Mr. Sanders, Mr. Durbin, Mr. Merkley, Ms. Warren, Mr. Padilla, Ms. Klobuchar, Mr. Booker, Mr. Casey, Ms. Hirono, Ms. Cortez Masto, Ms. Baldwin, Mr. Brown, Mr. Murphy, Mr. Markey, Mr. Reed, and Mrs. Shaheen), S4018 [11JN] Cosponsors added, S4086 [13JN] S. 4503 — A bill to prevent exploitative private equity practices, and for other purposes; to the Committee on Finance. By Ms. WARREN (for herself and Mr. Markey), S4019 [11JN] S. 4504 — A bill to amend the Public Health Service Act to provide for a public awareness campaign with respect to screening for type 1 diabetes, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. SHAHEEN (for herself and Ms. Collins), S4019 [11JN] S. 4505 — A bill to approve the settlement of water rights claims of Ohkay Owingeh in the Rio Chama Stream System, to restore the Bosque on Pueblo Land in the State of New Mexico, and for other purposes; to the Committee on Indian Affairs. By Mr. HEINRICH (for himself and Mr. Luján), S4019 [11JN] S. 4506 — A bill to amend the Workforce Innovation and Opportunity Act to clarify reporting requirements for information relating to providers of training services; to the Committee on Health, Education, Labor, and Pensions. By Mr. TUBERVILLE, S4019 [11JN] Cosponsors added, S4056 [12JN] S. 4507 — A bill to amend title 49, United States Code, to make the method used by the Department of Energy for calculating electric vehicle-equivalent petroleum fuel economy more accurate, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. BARRASSO (for himself, Mr. Risch, Mr. Lee, Mr. Cassidy, Mr. Hoeven, and Ms. Lummis), S4019 [11JN] S. 4508 — A bill to prepare for contested logistics environments, and for other purposes; to the Committee on Armed Services. By Mr. ROMNEY (for himself and Mr. Kelly), S4019 [11JN] S. 4509 — A bill to authorize the appropriation of amounts for the construction of a consolidated rigging facility for the special operations forces at Hunter Army Airfield, Georgia; to the Committee on Armed Services. By Mr. OSSOFF, S4019 [11JN] S. 4510 — A bill to amend the American Taxpayer Relief Act of 2012 to delay implementation of the inclusion of oral-only ESRD-related drugs in the Medicare ESRD prospective payment system; to the Committee on Finance. By Mrs. BLACKBURN (for herself and Mr. Luján), S4019 [11JN] S. 4511 — A bill to provide for the crediting of funds received by the National Guard Bureau as reimbursement from States; to the Committee on Armed Services. By Mr. LEE (for himself, Mr. Manchin, Mr. Rubio, Mr. Cruz, Mr. Crapo, Ms. Klobuchar, Mr. Daines, Mr. Risch, and Mr. Vance), S4019 [11JN] Cosponsors added, S4086 [13JN], S4116 [17JN] S. 4512 — A bill to amend the Job Corps program under subtitle C of title I of the Workforce Innovation and Opportunity Act, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. MURPHY (for himself and Mr. Reed), S4019 [11JN] S. 4513 — A bill to expand eligibility for Junior Reserve Officers’ Training Corps unit participation; to the Committee on Armed Services. By Mrs. CAPITO (for herself, Mrs. Shaheen, Mr. Cornyn, Mrs. Britt, Mr. Cruz, Ms. Ernst, Mr. Rubio, Mr. Moran, and Mr. Budd), S4019 [11JN] Cosponsors added, S4182 [20JN] S. 4514 — A bill to clarify that amounts from declinations should be deposited in the Crime Victims Fund and to temporarily provide additional deposits into the Crime Victims Fund; to the Committee on the Judiciary. By Mr. DURBIN (for himself and Ms. Murkowski), S4019 [11JN] Text, S4022 [11JN] S. 4515 — A bill to combat foreign terrorist acquisition of unmanned aerial systems, and for other purposes; to the Committee on Armed Services. By Mr. ROMNEY (for himself and Ms. Rosen), S4019 [11JN] S. 4516 — A bill to ensure equal protection of the law, to prevent racism in the Federal Government, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. VANCE (for himself, Mrs. Blackburn, Mr. Cramer, Mr. Cassidy, Mr. Scott of Florida, Mr. Schmitt, Mr. Rubio, and Mr. Lee), S4054 [12JN] Cosponsors added, S4116 [17JN] S. 4517 — A bill to authorize the establishment of a Negotiations Support Unit in the Department of State, and for other purposes; to the Committee on Foreign Relations. By Mr. MERKLEY, S4054 [12JN] S. 4518 — A bill to amend title XVIII of the Social Security Act to establish requirements with respect to the use of prior authorization under Medicare Advantage plans; to the Committee on Finance. By Mr. MARSHALL (for himself, Ms. Sinema, Mr. Thune, Mr. Brown, Ms. Cortez Masto, Ms. Collins, and Mrs. Fischer), S4054 [12JN] S. 4519 — A bill to require implementation of primary indicators of performance for certain programs of workforce investment activities; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARSHALL, S4054 [12JN] S. 4520 — A bill to require the Director of National Intelligence to prepare and make available a report on the wealth and corrupt activities of the leadership of the Chinese Communist Party, and for other purposes; to the Select Committee on Intelligence. By Mr. RUBIO, S4054 [12JN] S. 4521 — A bill to amend the Consumer Financial Protection Act of 2010 to subject the Bureau of Consumer Financial Protection to the regular appropriations process, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. HAGERTY (for himself, Mr. Scott of South Carolina, Mr. Crapo, Mr. Rounds, Mr. Tillis, Mr. Kennedy, Ms. Lummis, Mrs. Britt, and Mr. Cramer), S4054 [12JN] Cosponsors added, S4086 [13JN], S4155 [18JN] S. 4522 — A bill to require the Secretary of Health and Human Services to carry out a public awareness campaign to increase awareness of the importance of father inclusion and engagement in improving overall health outcomes during pregnancy, childbirth, and postpartum, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. WARNOCK (for himself and Mr. Rubio), S4054 [12JN] S. 4523 — A bill to amend the Richard B. Russell National School Lunch Act to expand community eligibility, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. FETTERMAN (for himself and Mr. Casey), S4054 [12JN] S. 4524 — A bill to amend the Public Health Service Act to prohibit discrimination against health care entities that do not participate in abortion, and to strengthen implementation and enforcement of Federal conscience laws; to the Committee on Health, Education, Labor, and Pensions. By Mr. LANKFORD (for himself, Mr. Cramer, Mr. Daines, Mr. Hoeven, Mr. Rubio, Mr. Risch, Mr. Moran, Mr. Crapo, Ms. Lummis, Mrs. Blackburn, Mr. Rounds, Mr. Hawley, Mr. Thune, Mr. Ricketts, Mrs. Fischer, and Mrs. Hyde-Smith), S4054 [12JN] Cosponsors added, S4086 [13JN], S4116 [17JN], S4155 [18JN] Objection is heard to request for consideration, S4140 [18JN] S. 4525 — A bill to amend the Richard B. Russell National School Lunch Act to improve program requirements, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. CASEY (for himself and Mr. Fetterman), S4054 [12JN] S. 4526 — A bill to amend the Workforce Innovation and Opportunity Act to expand the types of one-stop centers used to provide services; to the Committee on Health, Education, Labor, and Pensions. By Mr. BUDD (for himself and Mr. Cassidy), S4055 [12JN] S. 4527 — A bill to amend title 5, United States Code, with respect to the judicial review of agency interpretations of statutory and regulatory provisions; to the Committee on Homeland Security and Governmental Affairs. By Mr. SCHMITT, S4055 [12JN] S. 4528 — A bill to award posthumously a Congressional Gold Medal posthumously to Marshall Walter ‘‘Major’’ Taylor in recognition of his significance to the nation as an athlete, trailblazer, role model, and equal rights advocate; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BRAUN (for himself and Mr. Warnock), S4055 [12JN] S. 4529 — A bill to permanently establish the E–Verify employment eligibility verification system, to mandate the use of E–Verify by all employers, and for other purposes; to the Committee on the Judiciary. By Mr. ROMNEY (for himself, Mr. Cotton, Mr. Cassidy, Mr. Lankford, Mr. Vance, and Mr. Manchin), S4084 [13JN] S. 4530 — A bill to authorize an exception to the restriction on construction of Coast Guard vessels in foreign shipyards for certain construction in shipyards in North Atlantic Treaty Organization countries, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S4084 [13JN] S. 4531 — A bill to authorize an exception to the prohibition on the construction of naval vessels in foreign shipyards, and for other purposes; to the Committee on Armed Services. By Mr. LEE, S4084 [13JN] S. 4532 — A bill to amend title XVIII of the Social Security Act to establish requirements with respect to the use of prior authorization under Medicare Advantage plans; to the Committee on Finance. By Mr. MARSHALL (for himself, Ms. Sinema, Mr. Thune, Mr. Brown, Mrs. Blackburn, Mr. Whitehouse, Mr. Cassidy, Ms. Hassan, Mr. Tillis, Mr. Carper, Mr. Cornyn, Mr. Casey, Mr. Boozman, Ms. Stabenow, Mr. Moran, Ms. Klobuchar, Mr. Vance, Mrs. Gillibrand, Mr. Budd, Mr. Kaine, Mr. Hawley, Mrs. Shaheen, Mrs. Hyde-Smith, Mr. Kelly, Mr. Cramer, Ms. Rosen, Mr. Braun, Mr. Heinrich, Mr. Schmitt, Mr. Hickenlooper, Mr. Rubio, Mr. Peters, Mr. Rounds, Mr. Welch, Mr. Hoeven, Mr. Padilla, Ms. Collins, Mr. Blumenthal, Mrs. Fischer, Mr. Warnock, Mr. Schatz, Mr. Merkley, Mr. Fetterman, Ms. Warren, and Ms. Cortez Masto), S4084 [13JN] S. 4533 — A bill to expand and promote research and data collection on reproductive health conditions, to provide training opportunities for medical professionals to learn how to diagnose and treat reproductive health conditions, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. HYDE–SMITH (for herself, Mr. Lankford, Mr. Cornyn, Mr. Wicker, Mr. Ricketts, Mr. Mullin, and Mr. Grassley), S4084 [13JN] Objection is heard to request for consideration, S4137 [18JN] S. 4534 — A bill to establish a national human trafficking database at the Federal Bureau of Investigation, and to incentivize certain State law enforcement agencies to report data to the database; to the Committee on the Judiciary. By Mrs. BLACKBURN (for herself and Ms. Klobuchar), S4084 [13JN] S. 4535 — A bill to require transportation network companies to provide customers notice when a driver has a camera in their motor vehicle and provide customers an opportunity to opt out of riding in motor vehicles with cameras, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. BLACKBURN (for herself and Mr. Welch), S4084 [13JN] S. 4536 — A bill to designate the Federal building and United States courthouse located at 600 East First Street in Rome, Georgia, as the ‘‘Harold L. Murphy Federal Building and United States Courthouse.’’; to the Committee on Environment and Public Works. By Mr. OSSOFF (for himself and Mr. Warnock), S4084 [13JN] S. 4537 — A bill to provide for congressional oversight of proposed changes to arms sales to Israel, and for other purposes; to the Committee on Foreign Relations. By Mr. RISCH, S4084 [13JN] S. 4538 — A bill to adjust certain ownership and other requirements for passenger vessels, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S4084 [13JN] S. 4539 — A bill to amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent; to the Committee on Finance. By Mr. SCHMITT (for himself, Mr. Casey, Mr. Boozman, Mr. Van Hollen, Mr. Cotton, Mr. Welch, Mr. Tuberville, Mr. Kaine, Mrs. Britt, Ms. Klobuchar, Mr. Mullin, and Mr. Wyden), S4084 [13JN] Cosponsors added, S4116 [17JN], S4182 [20JN] S. 4540 — A bill to enable passenger vessels that were not built in the United States to receive coastwise endorsement, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S4084 [13JN] S. 4541 — A bill to amend the Internal Revenue Code of 1986 to make certain provisions with respect to qualified ABLE programs permanent; read the first time. By Mr. SCHMITT, S4084 [13JN] Read the first time, S4096 [13JN] Read the second time. Placed on the calendar, S4099 [17JN] Cosponsors added, S4116 [17JN] S. 4542 — A bill to require the Secretary of Housing and Urban Development to discount FHA single-family mortgage insurance premium payments for first-time homebuyers who complete a financial literacy housing counseling program; to the Committee on Banking, Housing, and Urban Affairs. By Mr. PETERS (for himself and Mr. Cornyn), S4084 [13JN] S. 4543 — A bill to amend the Food and Nutrition Act of 2008 to allow States to waive certain administrative requirements for recertification, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. WELCH (for himself and Mr. Padilla), S4084 [13JN] S. 4544 — A bill to exempt large cruise ships from certain requirements applicable to passenger vessels, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S4084 [13JN] S. 4545 — A bill to amend the Food, Agriculture, Conservation, and Trade Act of 1990 with respect to emergency assistance for farmworkers, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BENNET (for himself and Mr. Padilla), S4084 [13JN] S. 4546 — A bill to amend title 18, United States Code, to expand the prohibition on destruction of veterans’ memorials to include other memorials and to establish mandatory minimum sentences for violations of that prohibition; to the Committee on the Judiciary. By Mr. COTTON (for himself and Mrs. Blackburn), S4084 [13JN] S. 4547 — A bill to prohibit the award of Federal Government contracts to inverted domestic corporations, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. DURBIN (for himself, Mr. Reed, Ms. Duckworth, Mr. Sanders, and Mr. Whitehouse), S4084 [13JN] Text, S4086 [13JN] S. 4548 — A bill to make a technical correction to the National Defense Authorization Act for Fiscal Year 2024 by repealing section 5101 and enacting an updated version of the Foreign Extortion Prevention Act. By Mr. WHITEHOUSE (for himself and Mr. Tillis), S4084 [13JN] Passed Senate, S4096 [13JN] Text, S4096 [13JN] Message from the Senate (received June 17, 2024), H4111 [18JN] Held at the desk, H4111 [18JN] S. 4549 — A bill to amend the Internal Revenue Code of 1986 to require additional information on math and clerical error notices; to the Committee on Finance. By Ms. WARREN (for herself and Mr. Cassidy), S4084 [13JN] S. 4550 — A bill to amend the Head Start Act to authorize block grants to States for prekindergarten education, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. LEE (for himself and Mrs. Blackburn), S4084 [13JN] S. 4551 — A bill to amend the National Agricultural Research, Extension, and Teaching Policy Act of 1977 to modify the BARD Fund, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. HOEVEN (for himself and Mrs. Gillibrand), S4084 [13JN] S. 4552 — A bill to enhance the rights of domestic employees, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mrs. GILLIBRAND (for herself, Mr. Luján, Ms. Baldwin, Ms. Butler, Mr. Casey, Ms. Duckworth, Mr. Durbin, Mr. Fetterman, Mr. Kaine, Ms. Klobuchar, Mr. Markey, Mr. Merkley, Mr. Sanders, Ms. Warren, and Mr. Welch), S4084 [13JN] Cosponsors added, S4116 [17JN] S. 4553 — A bill to ensure access to certain public land, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. LEE, S4084 [13JN] S. 4554 — A bill to express support for protecting access to reproductive health care after the Dobbs v. Jackson decision on June 24, 2022; read the first time. By Mrs. MURRAY (for herself, Mr. Schumer, Ms. Baldwin, Ms. Butler, Ms. Cantwell, Ms. Cortez Masto, Ms. Duckworth, Mrs. Gillibrand, Ms. Hassan, Ms. Hirono, Ms. Klobuchar, Ms. Rosen, Mrs. Shaheen, Ms. Smith, Ms. Stabenow, and Ms. Warren), S4115 [17JN] Read the first time, S4099 [17JN] Read the second time. Placed on the calendar, S4119 [18JN] Cosponsors added, S4155 [18JN] S. 4555 — A bill to amend title II of the Social Security Act to increase the age threshold for eligibility for child’s insurance benefits on the basis of disability; to the Committee on Finance. By Mr. CASSIDY (for himself and Ms. Hassan), S4115 [17JN] S. 4556 — A bill to amend title 38, United States Code, to establish the Office of Falls Prevention of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. KING (for himself and Mr. Rounds), S4115 [17JN] S. 4557 — A bill to authorize the use of off-highway vehicles in certain areas of the Capitol Reef National Park, Utah; to the Committee on Energy and Natural Resources. By Mr. LEE, S4115 [17JN] S. 4558 — A bill to amend the Immigration and Nationality Act with respect to the right of members of a federally recognized Indian Tribe in the United States and First Nations individuals in Canada to cross the borders of the United States; to the Committee on the Judiciary. By Mrs. GILLIBRAND (for herself and Mr. Daines), S4115 [17JN] S. 4559 — A bill to require benefit eligibility determinations to be made within a certain period of time; to the Committee on the Judiciary. By Mr. CRUZ, S4115 [17JN] S. 4560 — A bill to amend title 54, United States Code, to provide that State law shall apply to the use of motor vehicles on roads within a System unit; to the Committee on Energy and Natural Resources. By Mr. LEE, S4115 [17JN] S. 4561 — A bill to amend the Wilderness Act to allow local Federal officials to determine the manner in which nonmotorized uses may be permitted in wilderness areas, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. LEE, S4115 [17JN] S. 4562 — A bill to amend the Federal Food, Drug, and Cosmetic Act to prohibit the practice of feeding excrement to farm animals, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. BOOKER, S4115 [17JN] S. 4563 — A bill to improve defense cooperation between the United States and the Hashemite Kingdom of Jordan; to the Committee on Foreign Relations. By Mr. RUBIO (for himself and Ms. Rosen), S4152 [18JN] S. 4564 — A bill to designate the facility of the United States Postal Service located at 50 East Derry Road in East Derry, New Hampshire, as the ‘‘Chief Edward B. Garone Post Office’’; to the Committee on Homeland Security and Governmental Affairs. By Mrs. SHAHEEN (for herself and Ms. Hassan), S4152 [18JN] S. 4565 — A bill to amend the Higher Education Act of 1965 to provide for institutional ineligibility based on low cohort repayment rates and to require risk-sharing payments of institutions of higher education; to the Committee on Health, Education, Labor, and Pensions. By Mrs. SHAHEEN (for herself and Mr. Young), S4152 [18JN] S. 4566 — A bill to require the Secretary of the Navy, the Secretary of the Air Force, and the Secretary of the Army to carry out a pilot program on producing parts through reverse engineering, and for other purposes; to the Committee on Armed Services. By Mr. GRASSLEY (for himself and Ms. Warren), S4152 [18JN] S. 4567 — A bill to amend the Workforce Innovation and Opportunity Act regarding reentry employment opportunities, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. CORNYN (for himself and Mr. Tillis), S4152 [18JN] S. 4568 — A bill to repeal certain provisions of the CHIPS Act of 2022 and the Research and Development, Competition, and Innovation Act, to limit Federal mandates imposed on entities seeking Federal funds, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. TUBERVILLE (for himself, Mr. Lee, and Mr. Ricketts), S4152 [18JN] S. 4569 — A bill to require covered platforms to remove nonconsensual intimate visual depictions, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ (for himself, Ms. Klobuchar, Mrs. Capito, Mr. Blumenthal, Ms. Lummis, Ms. Rosen, Mr. Budd, Ms. Butler, Mr. Young, Mr. Manchin, Mr. Cassidy, Mr. Hickenlooper, Mr. Heinrich, and Mr. Barrasso), S4152 [18JN] Cosponsors added, S4182 [20JN] S. 4570 — A bill to require the Board of Governors of the Federal Reserve System to study the impacts of the proposed rule on debit card interchange fees and routing, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. BUDD (for himself, Mr. Hagerty, Mr. Daines, Mr. Tillis, and Mrs. Britt), S4152 [18JN] S. 4571 — A bill to define ‘‘obscenity’’ for purposes of the Communications Act of 1934, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. LEE, S4152 [18JN] S. 4572 — A bill to direct the Secretary of Commerce, acting through the Assistant Secretary of Commerce for Communications and Information, to conduct a study of the national security risks posed by consumer routers, modems, and devices that combine a modem and router, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. BLACKBURN (for herself and Mr. Luján), S4152 [18JN] S. 4573 — A bill to extend the obligation deadline of funds made available to recipients under the American Rescue Plan Act for the purposes of supporting homeless children and youth; to the Committee on Health, Education, Labor, and Pensions. By Ms. MURKOWSKI (for herself, Mr. Manchin, Mr. Sullivan, and Ms. Sinema), S4152 [18JN] S. 4574 — A bill to amend the Older Americans Act of 1965 to allow States, tribal organizations, and organizations serving Native Hawaiians flexibility to use certain funds for innovative nutrition services, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BRAUN (for himself and Mr. Peters), S4152 [18JN] S. 4575 — A bill to amend the Older Americans Act of 1965 to require the Assistant Secretary for Aging to make available to States, area agencies on aging, and service providers information and technical assistance to support the provision of evidence-informed practices that are likely to improve health outcomes, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BRAUN, S4152 [18JN] S. 4576 — A bill to amend the Energy and Water Development and Related Agencies Appropriations Act, 2015, to reauthorize the Colorado River System conservation pilot program; to the Committee on Energy and Natural Resources. By Mr. HICKENLOOPER (for himself, Mr. Barrasso, Mr. Romney, Mr. Bennet, and Ms. Lummis), S4152 [18JN] S. 4577 — A bill to amend the Older Americans Act of 1965 to require the Assistant Secretary for Aging to publish on an online portal information on national resource centers authorized or supported under such Act, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BRAUN, S4152 [18JN] S. 4578 — A bill to amend the Older Americans Act of 1965 to require reports to Congress on State Long-Term Care Ombudsman Programs, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. BRAUN (for himself and Mr. Casey), S4152 [18JN] S. 4579 — A bill to reauthorize the Northwest Straits Marine Conservation Initiative Act to promote the protection of the resources of the Northwest Straits, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mrs. MURRAY (for herself and Ms. Cantwell), S4152 [18JN] S. 4580 — A bill to establish, improve, or expand high-quality workforce development programs at community colleges, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. WARNOCK (for himself and Mr. Braun), S4152 [18JN] S. 4581 — A bill to require the Secretary of State, in coordination with the Secretary of Health and Human Services, the Administrator of the United States Agency for International Development, and such other heads of departments and agencies as the Secretary of State considers appropriate, to formulate a strategy for the Federal Government to secure support from foreign countries, multilateral organizations, and other appropriate entities to facilitate the development and commercialization of qualified pandemic or epidemic products, and for other purposes; to the Committee on Foreign Relations. By Mr. KELLY (for himself and Mr. Cornyn), S4152 [18JN] S. 4582 — A bill to reauthorize the trade adjustment assistance program; to the Committee on Finance. By Mr. BROWN (for himself, Ms. Baldwin, Mr. Casey, Mr. Fetterman, Ms. Klobuchar, Mr. Markey, Mr. Peters, Mr. Reed, Mr. Sanders, Ms. Smith, Ms. Stabenow, Ms. Warren, Mr. Whitehouse, and Mr. Wyden), S4152 [18JN] S. 4583 — A bill to amend the Federal Food, Drug, and Cosmetic Act to extend the authority of the Secretary of Health and Human Services to issue priority review vouchers to encourage treatments for rare pediatric diseases; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself, Mr. Mullin, Mr. Brown, and Ms. Collins), S4153 [18JN] S. 4584 — A bill to amend the Internal Revenue Code of 1986 to allow a business credit for gain from the sale of real property for use as a manufactured home community, and for other purposes; to the Committee on Finance. By Mrs. SHAHEEN (for herself, Mr. Tester, and Mr. Blumenthal), S4153 [18JN] S. 4585 — A bill to prohibit covered entities that receive financial assistance relating to semiconductors from purchasing certain semiconductor manufacturing equipment from foreign entities of concern or subsidiaries of foreign entities of concern, and for other purposes; to the Committee on Finance. By Mr. KELLY (for himself and Mrs. Blackburn), S4153 [18JN] S. 4586 — A bill to prevent the funding of malign activities of the Chinese Communist Party through the sale of ‘‘A–Shares’’ on certain securities exchanges controlled by the Chinese Communist Party by prohibiting the purchase, sale, and ownership of such securities by United States investors, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. SCOTT of Florida, S4153 [18JN] S. 4587 — A bill to amend the Public Health Service Act to include rural emergency hospitals in the definition of a covered entity for purposes of the drug discount program under section 340B of such Act; to the Committee on Health, Education, Labor, and Pensions. By Mr. PETERS, S4153 [18JN] S. 4588 — A bill to authorize the Secretary of Defense to develop and implement a process for sharing military service data with States; to the Committee on Armed Services. By Mr. MORAN (for himself, Mr. Murphy, Mr. Romney, and Ms. Rosen), S4153 [18JN] S. 4589 — A bill to prohibit index funds and registered investment companies from investing in Chinese companies, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. SCOTT of Florida, S4153 [18JN] S. 4590 — A bill to amend the Securities and Exchange Act of 1934 to prohibit national securities exchanges from listing securities issued by certain entities, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs. By Mr. SCOTT of Florida (for himself, Mrs. Blackburn, and Mr. Rubio), S4153 [18JN] S. 4591 — A bill to permanently authorize the exemption of aliens working as fish processors from the numerical limitation on H-2B nonimmigrant visas; to the Committee on the Judiciary. By Ms. MURKOWSKI (for herself, Mr. Kaine, Mr. Warner, Mr. Kennedy, Mr. Van Hollen, Mr. Cardin, Mr. Cassidy, and Mr. Tillis), S4153 [18JN] S. 4592 — A bill to amend the Public Health Service Act to authorize the Secretary of Health and Human Services, acting through the Deputy Assistant Secretary for Minority Health, to award grants to faith- or community-based organizations to address persistent health inequities and chronic disease challenges; to the Committee on Health, Education, Labor, and Pensions. By Mrs. GILLIBRAND (for herself, Ms. Butler, and Mr. Booker), S4153 [18JN] S. 4593 — A bill to amend title 28, United States Code, to authorize removal of a civil action or criminal prosecution against a President, Vice President, former President, or former Vice President; to the Committee on the Judiciary. By Mr. TILLIS (for himself, Mr. Graham, Mr. Hawley, Mr. Schmitt, Mr. Budd, and Mr. Lee), S4153 [18JN] S. 4594 — A bill to prohibit the Federal Communications Commission from promulgating or enforcing rules regarding disclosure of AI-generated content in political advertisements; to the Committee on Commerce, Science, and Transportation. By Mr. LEE (for himself, Ms. Lummis, Mr. Barrasso, and Mr. Budd), S4153 [18JN] S. 4595 — A bill to improve the structure of the Federal Pell Grant program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Ms. HIRONO (for herself, Mrs. Murray, Mr. Reed, Mr. Whitehouse, Mr. Padilla, Mr. Kaine, Mr. Van Hollen, Mr. Booker, Ms. Warren, Mr. Durbin, Mr. Bennet, Ms. Duckworth, Mr. Welch, Mrs. Shaheen, Mr. Wyden, Mr. Cardin, Mr. Casey, Ms. Hassan, Mr. Blumenthal, Mrs. Gillibrand, Mr. Warnock, Mr. Heinrich, Ms. Butler, Ms. Klobuchar, Mr. Coons, Mr. Brown, Mr. Fetterman, Ms. Baldwin, Mr. Merkley, Mr. Markey, Mr. Murphy, Mr. Ossoff, and Ms. Smith), S4179 [20JN] S. 4596 — A bill to require the Secretary of Commerce to conduct a public awareness and education campaign to provide information regarding the benefits of, risks relating to, and the prevalence of artificial intelligence in the daily lives of individuals in the United States, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. YOUNG (for himself and Mr. Schatz), S4179 [20JN] S. 4597 — A bill to provide relief for employees of the Federal Deposit Insurance Corporation who were subjected to discrimination, and for other purposes; to the Committee on the Judiciary. By Mr. KENNEDY (for himself, Mr. Cramer, Mr. Daines, and Ms. Ernst), S4179 [20JN] S. 4598 — A bill to require any person that maintains an internet website or that sells or distributes a mobile application that is owned, wholly or partially, by a foreign adversary country, by a foreign adversary country-owned-entity, or by a non-state-owned entity located in a foreign adversary country, or that stores and maintains information collected from such website or application in a foreign adversary country, to disclose that fact to any individual who downloads or otherwise uses such website or application; to the Committee on Commerce, Science, and Transportation. By Ms. CORTEZ MASTO (for herself and Mr. Grassley), S4179 [20JN] S. 4599 — A bill to authorize the Secretary of the Interior to enter into an agreement with the Gateway Arch Park Foundation to host private events in Gateway Arch National Park buildings, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. SCHMITT, S4179 [20JN] S. 4600 — A bill to require the Assistant to the Secretary of Defense for Public Affairs to provide a briefing on the status of establishing a course of education on authentication of digital content provenance and a briefing on a pilot program on authentication of digital content provenance, and for other purposes; to the Committee on Armed Services. By Mr. PETERS, S4179 [20JN] S. 4601 — A bill to authorize the appropriation of amounts for the construction of a consolidated communication facility at Marine Corps Logistics Base Albany, Georgia; to the Committee on Armed Services. By Mr. OSSOFF, S4179 [20JN] S. 4602 — A bill to authorize the appropriation of amounts for the construction of a National Guard and Reserve Center at Fort Eisenhower, Georgia; to the Committee on Armed Services. By Mr. OSSOFF, S4179 [20JN] S. 4603 — A bill to authorize the appropriation of amounts for the construction of a dining hall and services training facility at Savannah Air National Guard Base, Georgia; to the Committee on Armed Services. By Mr. OSSOFF, S4179 [20JN] S. 4604 — A bill to authorize the appropriation of amounts for the construction of a trident refit facility expansion at Kings Bay Naval Submarine Base, Georgia; to the Committee on Armed Services. By Mr. OSSOFF, S4179 [20JN] S. 4605 — A bill to authorize the appropriation of amounts for the construction of a battle management combined operations complex at Robins Air Force Base, Georgia; to the Committee on Armed Services. By Mr. OSSOFF, S4179 [20JN] S. 4606 — A bill to authorize the appropriation of amounts for the planning and design of a civil engineering group facility at Dobbins Air Reserve Base, Georgia; to the Committee on Armed Services. By Mr. OSSOFF, S4179 [20JN] S. 4607 — A bill to designate the America’s National Churchill Museum National Historic Landmark, and for other purposes; to the Committee on Energy and Natural Resources. By Mr. HAWLEY, S4180 [20JN] S. 4608 — A bill to amend the Workforce Innovation and Opportunity Act to authorize the use of individual training accounts for certain youth; to the Committee on Health, Education, Labor, and Pensions. By Mr. HICKENLOOPER, S4180 [20JN] S. 4609 — A bill to direct the Comptroller General of the United States to submit a report to Congress on vessel fires and responses, and for other purposes; to the Committee on Commerce, Science, and Transportation. By Mr. BOOKER, S4180 [20JN] S. 4610 — A bill to amend title 36, United States Code, to designate the bald eagle as the national bird; to the Committee on the Judiciary. By Ms. KLOBUCHAR (for herself, Ms. Lummis, Mr. Mullin, and Ms. Smith), S4180 [20JN] S. 4611 — A bill to require retrofitting of anti-lock brake system and electronic stability control kit for certain Army vehicles; to the Committee on Armed Services. By Mr. PETERS (for himself and Mr. Cotton), S4180 [20JN] S. 4612 — A bill to ensure that the background check system used for firearms purchases denies a firearm to a person prohibited from possessing a firearm by a lawful court order governing the pretrial release of the person; to the Committee on the Judiciary. By Mr. BOOKER (for himself, Mr. Blumenthal, and Mr. Durbin), S4180 [20JN] S. 4613 — A bill to amend the Older Americans Act of 1965 to establish the Office of LGBTQI Inclusion and a rural outreach grant program, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARKEY (for himself, Mr. Casey, Mr. Wyden, Mr. Padilla, and Ms. Baldwin), S4180 [20JN] S. 4614 — A bill to direct the Secretary of Health and Human Services and the Secretary of Education to coordinate and distribute educational materials and resources regarding artificial intelligence and social media platform impact, and for other purposes; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARKEY, S4180 [20JN] S. 4615 — A bill to amend title VI of the Public Utility Regulatory Policies Act of 1978 to establish a Federal energy efficiency resource standard for electricity and natural gas suppliers, and for other purposes; to the Committee on Energy and Natural Resources. By Ms. SMITH (for herself, Mr. Welch, Mr. Booker, Mr. Luján, Mrs. Shaheen, and Mr. Van Hollen), S4180 [20JN] S. 4616 — A bill to establish a public health plan; to the Committee on Finance. By Mr. BENNET (for himself, Mr. Kaine, Mr. Booker, Ms. Duckworth, Mr. Hickenlooper, Ms. Klobuchar, Mrs. Shaheen, Ms. Smith, and Ms. Stabenow), S4180 [20JN] S. 4617 — A bill to exempt National Guard Bilateral Affairs Officers from active-duty end strength limits and to clarify the congressional committees to which the Secretary of Defense shall submit an annual report on security cooperation activities; to the Committee on Armed Services. By Mr. PETERS, S4180 [20JN] S. 4618 — A bill to limit the closure or consolidation of any United States Postal Service processing and distribution center if the United States Postal Service has failed to meet certain conditions, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Ms. ROSEN, S4180 [20JN] S. 4619 — A bill to revise sections 552, 1461, and 1462 of title 18, United States Code, and section 305 of the Tariff Act of 1930 (19 U.S.C. 1305), and for other purposes; to the Committee on the Judiciary. By Ms. SMITH (for herself, Ms. Warren, Ms. Cortez Masto, Mr. Whitehouse, Ms. Stabenow, Mrs. Shaheen, Mr. Merkley, Ms. Klobuchar, Ms. Duckworth, Ms. Hirono, Mr. Fetterman, Mr. Booker, Mr. Welch, Mr. Padilla, Mr. Schatz, Mr. Blumenthal, Mrs. Gillibrand, Ms. Butler, and Ms. Hassan), S4180 [20JN] S. 4620 — A bill to modify the premerger notification requirements under the Clayton Act with respect to certain acquisitions of residential property, and for other purposes; to the Committee on the Judiciary. By Ms. KLOBUCHAR (for herself, Mr. Brown, Ms. Hirono, Mr. Merkley, Ms. Warren, Ms. Smith, Mr. Sanders, Mr. Van Hollen, and Mr. Wyden), S4180 [20JN] S. 4621 — A bill to amend the Internal Revenue Code of 1986 to eliminate the application of the income tax on cash tips through a deduction allowed to all individual taxpayers; to the Committee on Finance. By Mr. CRUZ (for himself, Mr. Daines, Mr. Cramer, and Mr. Scott of Florida), S4180 [20JN] S. 4622 — A bill to establish an Air Force Technical Training Center of Excellence; to the Committee on Armed Services. By Mr. CRUZ, S4180 [20JN] S. 4623 — A bill to clarify rules regarding the display of the United States flag for patriotic and military observances for purposes of promoting military recruitment; to the Committee on the Judiciary. By Mr. CRUZ, S4180 [20JN] S. 4624 — A bill to require the Secretary of Veterans Affairs to submit a report on the status and timeline for completion of the redesigned Airborne Hazards and Open Burn Pit Registry 2.0; to the Committee on Veterans’ Affairs. By Mr. WELCH, S4180 [20JN] S. 4625 — A bill to provide for the designation of the Russian Federation as a state sponsor of terrorism; to the Committee on Foreign Relations. By Mr. GRAHAM (for himself and Mr. Blumenthal), S4180 [20JN] S. 4626 — A bill to standardize and improve safety training specific to electric vehicles for firefighters and other emergency response providers, and for other purposes; to the Committee on Homeland Security and Governmental Affairs. By Mr. WYDEN, S4180 [20JN] S. 4627 — A bill to authorize additional appropriations for fiscal year 2025 for solid waste disposal systems of the Army, with an offset; to the Committee on Armed Services. By Mr. WELCH (for himself and Ms. Murkowski), S4180 [20JN] S. 4628 — A bill to improve wildfire mitigation, management, and recovery, and for other purposes; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. KELLY (for himself and Mr. Romney), S4180 [20JN] S. 4629 — A bill to prohibit discrimination on the basis of religion, sex (including sexual orientation and gender identity), and marital status in the administration and provision of child welfare services, to improve safety, well-being, and permanency for lesbian, gay, bisexual, transgender , and queer or questioning foster youth, and for other purposes; to the Committee on the Judiciary. By Mrs. GILLIBRAND (for herself, Mr. Wyden, Ms. Baldwin, Mr. Bennet, Mr. Blumenthal, Mr. Booker, Mr. Brown, Ms. Cantwell, Mr. Cardin, Mr. Carper, Mr. Casey, Mr. Coons, Ms. Cortez Masto, Ms. Duckworth, Mr. Durbin, Mr. Fetterman, Mr. Hickenlooper, Ms. Hirono, Mr. Kaine, Mr. Kelly, Mr. King, Ms. Klobuchar, Mr. Luján, Mr. Markey, Mr. Menendez, Mr. Merkley, Mr. Murphy, Mrs. Murray, Mr. Ossoff, Mr. Padilla, Mr. Peters, Mr. Reed, Ms. Rosen, Mr. Sanders, Mr. Schatz, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Van Hollen, Ms. Warren, Mr. Welch, and Mr. Whitehouse), S4180 [20JN] S.J. Res. 2 — A joint resolution proposing an amendment to the Constitution of the United States relative to limiting the number of terms that a Member of Congress may serve; to the Committee on the Judiciary. Cosponsors added, S444 [7FE] S.J. Res. 4 — A joint resolution removing the deadline for the ratification of the Equal Rights Amendment; read the first time. Cosponsors added, S289 [30JA] S.J. Res. 32 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to ‘‘Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)’’; to the Committee on Banking, Housing, and Urban Affairs. Failed of passage. Veto of the President sustained, S66 [10JA] S.J. Res. 33 — A joint resolution proposing an amendment to the Constitution of the United States to prohibit the use of slavery and involuntary servitude as a punishment for a crime; to the Committee on the Judiciary. Cosponsors added, S3993 [5JN], S4056 [12JN], S4086 [13JN], S4155 [18JN] S.J. Res. 38 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Highway Administration relating to ‘‘Waiver of Buy America Requirements for Electric Vehicle Chargers’’; to the Committee on Environment and Public Works. Providing for consideration (H. Res. 947), H12 [9JA] Debated, H77 [11JA] Text, H77 [11JA] Passed House, H84 [11JA] Message from the House, S121 [16JA], S184 [18JA] Presidential veto message, S248, S252 [24JA] Consideration of veto message, S1057 [29FE] Failed of passage. Veto of the President sustained, S1058 [29FE] Examined and signed in the Senate (January 18, 2024), S184 [18JA] Examined and signed in the House (January 18, 2024), H238 [18JA] Presented to the President (January 18, 2024), S184 [18JA] S.J. Res. 39 — A joint resolution expressing the sense of Congress that the article of amendment commonly known as the ‘‘Equal Rights Amendment’’ has been validly ratified and is enforceable as the 28th Amendment to the Constitution of the United States, and the Archivist of the United States must certify and publish the Equal Rights Amendment as the 28th Amendment without delay; to the Committee on the Judiciary. Cosponsors added, S289 [30JA], S2720 [11AP], S4021 [11JN], S4182 [20JN] S.J. Res. 45 — A joint resolution proposing an amendment to the Constitution of the United States relating to contributions and expenditures intended to affect elections; to the Committee on the Judiciary. Cosponsors added, S17 [8JA], S49 [9JA], S75 [10JA], S148 [17JA], S270 [25JA], S289 [30JA], S423 [6FE], S497 [8FE], S4116 [17JN] S.J. Res. 49 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Labor Relations Board relating to a ‘‘Standard for Determining Joint Employer Status’’; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S75 [10JA], S148 [17JA], S1078 [29FE] S.J. Res. 52 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency entitled ‘‘Finding That Lead Emissions From Aircraft Engines That Operate on Leaded Fuel Cause or Contribute to Air Pollution That May Reasonably Be Anticipated To Endanger Public Health and Welfare’’; to the Committee on Environment and Public Works. Cosponsors added, S344 [1FE] S.J. Res. 53 — A joint resolution providing for congressional disapproval of the proposed foreign military sale to the Kingdom of Saudi Arabia of certain defense articles and services; to the Committee on Foreign Relations. Cosponsors added, S148 [17JA] S.J. Res. 54 — A joint resolution providing for congressional disapproval of the proposed foreign military sale to the Government of Egypt of certain defense articles and services; to the Committee on Foreign Relations. By Mr. PAUL, S202 [22JA] S.J. Res. 55 — A joint resolution providing for congressional disapproval of the proposed foreign military sale to the Government of Egypt of certain defense articles and services; to the Committee on Foreign Relations. By Mr. PAUL, S202 [22JA] S.J. Res. 56 — A joint resolution providing for congressional disapproval of the proposed foreign military sales to the Government of Egypt of certain defense articles and services; to the Committee on Foreign Relations. By Mr. PAUL, S202 [22JA] S.J. Res. 57 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to ‘‘Coronavirus State and Local Fiscal Recovery Funds’’; to the Committee on Finance. By Mr. SCHMITT (for himself, Mr. Marshall, Mr. Cotton, Mr. Braun, Mrs. Blackburn, Mr. Scott of Florida, Mr. Hagerty, Ms. Ernst, Mr. Johnson, and Ms. Lummis), S343 [1FE] Cosponsors added, S600 [9FE], S2646 [8AP], S3136 [1MY] Discharge petition, S3683 [14MY] Committee on Finance discharged by petition. Placed on the calendar, S3683 [14MY] Debated, S3698 [15MY] Failed of passage, S3705 [15MY] S.J. Res. 58 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Energy relating to ‘‘Energy Conservation Program: Energy Conservation Standards for Consumer Furnaces’’; to the Committee on Energy and Natural Resources. By Mr. CRUZ (for himself, Mr. Risch, Ms. Lummis, Mr. Sullivan, Mr. Kennedy, Mr. Hagerty, Mr. Ricketts, Mr. Crapo, Mr. Scott of Florida, Mrs. Capito, Mr. Wicker, Mrs. Blackburn, Mr. Johnson, Mr. Lankford, Mr. Lee, Mr. Daines, Mr. Grassley, Mrs. Hyde-Smith, Mr. Hoeven, Mr. Braun, Mr. Mullin, Mrs. Britt, Mr. Vance, Mr. Schmitt, Mr. Cramer, Mrs. Fischer, Mr. Tuberville, Mr. Rounds, Mr. Marshall, and Mr. Graham), S343 [1FE] Cosponsors added, S423 [6FE], S986 [26FE], S3136 [1MY], S3504 [7MY], S3713 [15MY] Motion to proceed agreed to, S3800 [21MY] Passed Senate, S3800 [21MY] Text, S3800 [21MY] Discharge petition, S3809 [21MY] Committee on Energy and Natural Resources discharged by petition. Placed on the calendar, S3809 [21MY] Message from the Senate (omitted from the Record of May 22, 2024), H3519 [23MY] S.J. Res. 59 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to ‘‘Staff Accounting Bulletin No. 121’’; to the Committee on Banking, Housing, and Urban Affairs. By Ms. LUMMIS, S343 [1FE] Cosponsors added, S3504 [7MY] S.J. Res. 60 — A joint resolution providing for congressional disapproval of the proposed foreign military sale to the Government of Turkiye of certain defense articles and services; to the Committee on Foreign Relations. By Mr. PAUL, S361 [5FE] Motion to discharge Committee on Foreign Relations rejected, S1067 [29FE] Cosponsors added, S1079 [29FE] S.J. Res. 61 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Highway Administration relating to ‘‘National Performance Management Measures; Assessing Performance of the National Highway System, Greenhouse Gas Emissions Measure’’; to the Committee on Environment and Public Works. By Mr. CRAMER (for himself, Mr. Manchin, Mrs. Capito, Mr. McConnell, Mr. Thune, Mr. Hoeven, Mr. Marshall, Mr. Budd, Mr. Ricketts, Mr. Cornyn, Mr. Barrasso, Mr. Cotton, Mr. Braun, Mrs. Hyde-Smith, Mr. Mullin, Ms. Ernst, Mrs. Fischer, Mr. Wicker, Mr. Daines, Mr. Crapo, Mr. Rounds, Mr. Cruz, Mr. Schmitt, Mr. Lee, Mr. Tillis, Mrs. Blackburn, Mr. Boozman, Mr. Hagerty, Ms. Lummis, Mr. Grassley, Mr. Tuberville, Mr. Risch, Mr. Sullivan, Mr. Rubio, Mr. Lankford, Mr. Scott of South Carolina, Mr. Scott of Florida, Mr. Graham, Ms. Collins, Mrs. Britt, Mr. Moran, Ms. Murkowski, Mr. Cassidy, Mr. Kennedy, Mr. Young, Mr. Johnson, Mr. Romney, and Mr. Hawley), S443 [7FE] Cosponsors added, S1014 [27FE], S2366 [12MR] Discharge petition, S2665 [9AP] Committee on Environment and Public Works discharged by petition. Placed on the calendar, S2665 [9AP] Debated, S2684 [10AP] Passed Senate, S2695 [10AP] Text, S2695 [10AP] Message from the Senate, H2371 [15AP] Held at the desk, H2371 [15AP] S.J. Res. 62 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Animal and Plant Health Inspection Service relating to ‘‘Importation of Fresh Beef From Paraguay’’; to the Committee on Agriculture, Nutrition, and Forestry. By Mr. TESTER (for himself and Mr. Rounds), S985 [26FE] Cosponsors added, S2214 [5MR], S2240 [6MR], S2280 [7MR], S2403 [14MR] Discharge petition, S2345 [11MR] Committee on Agriculture, Nutrition, and Forestry discharged by petition. Placed on the calendar, S2345 [11MR] Passed Senate, S2497 [21MR] Text, S2497 [21MR] Message from the Senate (received March 23, 2024), H2117 [26MR] Held at the desk, H2117 [26MR] S.J. Res. 63 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Employee or Independent Contractor Classification Under the Fair Labor Standards Act’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. CASSIDY (for himself, Mr. Barrasso, Mrs. Blackburn, Mr. Braun, Mr. Budd, Mrs. Capito, Ms. Collins, Mr. Cornyn, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Daines, Ms. Ernst, Mrs. Fischer, Mr. Hagerty, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Kennedy, Mr. Lankford, Mr. Lee, Mr. Marshall, Mr. McConnell, Mr. Moran, Mr. Mullin, Mr. Risch, Mr. Romney, Mr. Scott of Florida, Mr. Scott of South Carolina, Mr. Thune, Mr. Tillis, Mr. Tuberville, and Mr. Wicker), S2239 [6MR] Cosponsors added, S2280 [7MR], S2470 [20MR], S2791 [16AP], S2875 [18AP], S2933 [19AP], S3080 [30AP] S.J. Res. 64 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Communications Commission relating to ‘‘The Infrastructure Investment and Jobs Act: Prevention and Elimination of Digital Discrimination’’; to the Committee on Commerce, Science, and Transportation. By Mr. CRUZ (for himself, Mr. Lee, Mr. Schmitt, Mr. Budd, Mr. Marshall, Mr. Cornyn, Mrs. Hyde-Smith, Mr. Thune, Mr. Crapo, Mr. Cramer, Mr. Scott of South Carolina, Mr. Sullivan, Mr. Lankford, Mr. Risch, Mrs. Blackburn, Mrs. Fischer, Mrs. Britt, Mr. Moran, and Ms. Lummis), S2401 [14MR] Cosponsors added, S2441 [19MR] S.J. Res. 65 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Reconsideration of the National Ambient Air Quality Standards for Particulate Matter’’; to the Committee on Environment and Public Works. By Mr. McCONNELL (for himself, Mrs. Capito, Mr. Barrasso, Mrs. Blackburn, Mr. Boozman, Mr. Braun, Mrs. Britt, Mr. Budd, Mr. Cassidy, Ms. Collins, Mr. Cornyn, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Cruz, Mr. Daines, Ms. Ernst, Mrs. Fischer, Mr. Graham, Mr. Grassley, Mr. Hagerty, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Johnson, Mr. Kennedy, Mr. Lankford, Mr. Lee, Ms. Lummis, Mr. Marshall, Mr. Moran, Mr. Mullin, Ms. Murkowski, Mr. Paul, Mr. Ricketts, Mr. Risch, Mr. Romney, Mr. Rounds, Mr. Schmitt, Mr. Scott of Florida, Mr. Scott of South Carolina, Mr. Sullivan, Mr. Thune, Mr. Tillis, Mr. Tuberville, Mr. Wicker, and Mr. Young), S2401 [14MR] Text, S2414 [14MR] Cosponsors added, S2470 [20MR], S2599 [22MR], S2933 [19AP] S.J. Res. 66 — A joint resolution providing for congressional disapproval of the proposed foreign military sale to the Government of Bahrain of certain defense articles and services; to the Committee on Foreign Relations. By Mr. PAUL (for himself and Mr. Wyden), S2515 [21MR] S.J. Res. 67 — A joint resolution to provide for related procedures concerning the articles of impeachment against Alejandro Nicholas Mayorkas, Secretary of Homeland Security; read the first time. By Mr. LEE, S2597 [22MR] Read the second time and placed on the calendar, S2629 [8AP] S.J. Res. 68 — A joint resolution providing for the issuance of a summons, providing for the appointment of a committee to receive and to report evidence, and establishing related procedures concerning the articles of impeachment against Alejandro Nicholas Mayorkas; read the first time. By Mr. LEE, S2597 [22MR] Read the second time and placed on the calendar, S2629 [8AP] S.J. Res. 69 — A joint resolution to provide for related procedures concerning the articles of impeachment against Alejandro Nicholas Mayorkas, Secretary of Homeland Security; read the first time. By Mr. LEE, S2597 [22MR] Read the second time and placed on the calendar, S2629 [8AP] S.J. Res. 70 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to ‘‘Credit Card Penalty Fees (Regulation Z)’’; to the Committee on Banking, Housing, and Urban Affairs. By Mr. SCOTT of South Carolina (for himself, Mr. Moran, Mr. Cramer, Mr. Rounds, Mr. Barrasso, Mr. Thune, Mr. Tillis, Mr. Braun, Mr. Daines, Mr. Hagerty, Mr. Boozman, Mrs. Britt, Mrs. Blackburn, and Mr. Budd), S2645 [8AP] Cosponsors added, S2875 [18AP] S.J. Res. 71 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Standards of Performance for New, Reconstructed, and Modified Sources and Emissions Guidelines for Existing Sources: Oil and Natural Gas Sector Climate Review’’; to the Committee on Environment and Public Works. By Mr. MARSHALL (for himself, Mr. Daines, Mrs. Blackburn, Mr. Cruz, Mr. Lankford, Mr. Lee, Ms. Lummis, Mr. Scott of South Carolina, Mr. Sullivan, Mr. Hoeven, Mr. Mullin, and Mr. Ricketts), S2719 [11AP] S.J. Res. 72 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to ‘‘The Enhancement and Standardization of Climate-Related Disclosures for Investors’’; to the Committee on Banking, Housing, and Urban Affairs. By Mr. SCOTT of South Carolina (for himself, Mr. Crapo, Mr. Rounds, Mr. Tillis, Mr. Kennedy, Mr. Hagerty, Ms. Lummis, Mr. Vance, Mrs. Britt, Mr. Cramer, Mr. Daines, Mr. Moran, Mr. Sullivan, Mr. Risch, Mr. Barrasso, Mr. Rubio, Mr. Thune, Mrs. Capito, Mr. Cassidy, Mr. Lankford, Mr. Hoeven, Mr. Cornyn, Mr. Grassley, Mr. Scott of Florida, Mr. Cotton, Mr. McConnell, Mr. Manchin, Mrs. Hyde-Smith, Mrs. Fischer, Mr. Boozman, Mr. Johnson, Mr. Budd, Mr. Ricketts, Mr. Braun, Mr. Tuberville, and Mr. Cruz), S2828 [17AP] Cosponsors added, S2875 [18AP], S2933 [19AP], S3713 [15MY] S.J. Res. 73 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the multiple agencies relating to ‘‘Partnerships With Faith-Based and Neighborhood Organizations’’; to the Committee on Homeland Security and Governmental Affairs. By Mr. RUBIO (for himself, Mr. Cotton, Mr. Marshall, Mr. Hawley, Mr. Scott of Florida, Mrs. Britt, Mrs. Hyde-Smith, and Mrs. Blackburn), S2873 [18AP] Cosponsors added, S3001 [23AP], S3080 [30AP] S.J. Res. 74 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Greenhouse Gas Emissions Standards for Heavy-Duty Vehicles-Phase 3’’; to the Committee on Environment and Public Works. By Mr. SULLIVAN (for himself, Mr. Ricketts, Mrs. Capito, Mr. Thune, Mr. Lankford, Ms. Lummis, Mr. Mullin, Mr. Lee, Mr. Manchin, Mr. Boozman, Ms. Ernst, Mr. Daines, Mr. Marshall, Mr. Barrasso, Mr. Cassidy, Mrs. Hyde-Smith, Mr. Crapo, Mr. Cramer, Mr. Risch, Mr. Budd, Mr. Scott of South Carolina, Mrs. Britt, Mr. Scott of Florida, Mr. Hawley, Mrs. Fischer, Mr. Moran, Mr. Schmitt, Mr. Hagerty, Mr. Wicker, Mr. Braun, Mr. Vance, Mr. Hoeven, Ms. Murkowski, Mr. Tuberville, Mr. Cotton, Mrs. Blackburn, Mr. Johnson, Mr. Kennedy, Mr. Graham, Mr. Rounds, Mr. Romney, Mr. Rubio, Mr. Cornyn, Ms. Collins, and Mr. Cruz), S3134 [1MY] S.J. Res. 75 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles’’; to the Committee on Environment and Public Works. By Mr. RICKETTS (for himself, Mr. Sullivan, Mrs. Capito, Mr. Lankford, Mr. Marshall, Mr. Cramer, Ms. Lummis, Mr. Mullin, Mr. Thune, Mr. Cassidy, Mr. Manchin, Ms. Ernst, Mr. Braun, Mr. Lee, Mr. Barrasso, Mr. Daines, Mr. Boozman, Mr. Crapo, Mr. Risch, Mrs. Britt, Mr. Scott of Florida, Mr. Tuberville, Mr. Budd, Mrs. Fischer, Mr. Moran, Mr. Schmitt, Mr. Scott of South Carolina, Mr. Hagerty, Mr. Wicker, Mr. Vance, Mr. Hoeven, Ms. Murkowski, Mr. Cotton, Mr. Tillis, Mrs. Blackburn, Mr. Kennedy, Mr. Johnson, Mr. Rounds, Mr. Rubio, Mr. Grassley, Mrs. Hyde-Smith, Mr. Hawley, Mr. Graham, Mr. Cornyn, Ms. Collins, Mr. Paul, Mr. Romney, Mr. Cruz, and Mr. McConnell), S3134 [1MY] S.J. Res. 76 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Short-Term, Limited-Duration Insurance and Independent, Noncoordinated Excepted Benefits Coverage’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. BRAUN (for himself, Mr. Marshall, Mr. Lee, and Mr. Johnson), S3317 [2MY] Cosponsors added, S3713 [15MY], S3781 [20MY], S3816 [21MY] S.J. Res. 77 — A joint resolution proposing an amendment to the Constitution of the United States relative to the fundamental right to vote; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Ms. Warren, Mr. Sanders, Mr. Merkley, Ms. Hirono, Mr. Van Hollen, Mr. Wyden, and Mr. Blumenthal), S3503 [7MY] Text, S3505 [7MY] Cosponsors added, S3713 [15MY] S.J. Res. 78 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Land Management relating to ‘‘Fluid Mineral Leases and Leasing Process’’; to the Committee on Energy and Natural Resources. By Mr. DAINES (for himself, Mr. Risch, Ms. Lummis, Mr. Hoeven, Mr. Ricketts, Mr. Lee, Mr. Barrasso, Mr. Crapo, Mrs. Hyde-Smith, Mr. Sullivan, and Mr. Cruz), S3686 [14MY] Cosponsors added, S3756 [16MY] S.J. Res. 79 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Retirement Security Rule: Definition of an Investment Advice Fiduciary’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. BUDD (for himself, Mr. Cassidy, Mr. Marshall, Mr. Manchin, Mr. Cramer, Ms. Ernst, Mr. Hagerty, Mr. Wicker, Mr. Crapo, Mr. Risch, Mr. Lankford, Mr. Grassley, Mr. Barrasso, Mrs. Blackburn, Mr. Braun, Mr. Daines, Mr. Cornyn, Mr. Tuberville, Mr. Scott of South Carolina, Mrs. Britt, and Mrs. Capito), S3710 [15MY] Cosponsors added, S3756 [16MY], S3816 [21MY], S3956 [4JN] S.J. Res. 80 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Regulations Pertaining to Endangered and Threatened Wildlife and Plants’’; to the Committee on Environment and Public Works. By Ms. LUMMIS (for herself, Mr. Sullivan, Mr. Ricketts, Mrs. Capito, Mr. Daines, Mr. Lee, Mr. Barrasso, Mr. Risch, Mr. Rounds, Mrs. Britt, Mr. Wicker, Mr. Crapo, Mrs. Blackburn, Mr. Marshall, and Mr. Hoeven), S3710 [15MY] Cosponsors added, S3756 [16MY] S.J. Res. 81 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Marine Fisheries Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Regulations for Interagency Cooperation’’; to the Committee on Commerce, Science, and Transportation. By Mr. SULLIVAN (for himself, Ms. Lummis, Mr. Ricketts, Mrs. Capito, Mr. Daines, Mr. Lee, Mr. Barrasso, Mr. Risch, Mr. Rounds, Mrs. Britt, Mr. Wicker, Mr. Crapo, Mrs. Blackburn, Mr. Marshall, and Mr. Hoeven), S3711 [15MY] Cosponsors added, S3756 [16MY] S.J. Res. 82 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Food and Drug Administration relating to ‘‘Medical Devices; Laboratory Developed Tests’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. PAUL, S3711 [15MY] Cosponsors added, S3856 [22MY], S3993 [5JN], S4021 [11JN] S.J. Res. 83 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Alcohol, Tobacco, Firearms, and Explosives relating to ‘‘Definition of ‘Engaged in the Business’ as a Dealer in Firearms’’; to the Committee on the Judiciary. By Mr. CORNYN (for himself, Mr. Tillis, Mr. McConnell, Mr. Marshall, Mr. Budd, Mr. Kennedy, Mr. Cramer, Mr. Daines, Mr. Crapo, Mr. Rubio, Mr. Scott of Florida, Mrs. Capito, Mr. Ricketts, Mr. Boozman, Mr. Risch, Ms. Lummis, Mr. Hoeven, Mr. Rounds, Mr. Grassley, Mr. Sullivan, Mrs. Hyde-Smith, Mr. Mullin, Mr. Moran, Mr. Cassidy, Mr. Lee, Mr. Cotton, Mr. Hawley, Ms. Ernst, Mr. Romney, Mr. Lankford, Mr. Thune, Mr. Tuberville, Mr. Scott of South Carolina, Mrs. Fischer, Mr. Wicker, Mr. Braun, Mrs. Blackburn, Mr. Vance, Mr. Barrasso, Mrs. Britt, Mr. Graham, Mr. Schmitt, Mr. Johnson, Mr. Cruz, and Mr. Young), S3711 [15MY] Cosponsors added, S3756 [16MY], S4116 [17JN] S.J. Res. 84 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Listing Endangered and Threatened Species and Designating Critical Habitat’’; to the Committee on Environment and Public Works. By Mr. RICKETTS (for himself, Ms. Lummis, Mr. Sullivan, Mrs. Capito, Mr. Daines, Mr. Lee, Mr. Barrasso, Mr. Risch, Mr. Rounds, Mrs. Britt, Mr. Wicker, Mr. Crapo, Mrs. Blackburn, Mr. Marshall, and Mr. Hoeven), S3711 [15MY] Cosponsors added, S3756 [16MY] S.J. Res. 85 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Marine Fisheries Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Listing Endangered and Threatened Species and Designating Critical Habitat’’; to the Committee on Commerce, Science, and Transportation. By Mr. RICKETTS (for himself, Ms. Lummis, Mr. Sullivan, Mrs. Capito, Mr. Daines, Mr. Lee, Mr. Barrasso, Mr. Risch, Mr. Rounds, Mrs. Britt, Mr. Wicker, Mr. Crapo, Mrs. Blackburn, Mr. Marshall, and Mr. Hoeven), S3711 [15MY] Cosponsors added, S3757 [16MY] S.J. Res. 86 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Regulations for Interagency Cooperation’’; to the Committee on Environment and Public Works. By Mr. SULLIVAN (for himself, Ms. Lummis, Mr. Ricketts, Mrs. Capito, Mr. Daines, Mr. Lee, Mr. Barrasso, Mr. Risch, Mr. Rounds, Mrs. Britt, Mr. Wicker, Mr. Crapo, Mrs. Blackburn, Mr. Marshall, and Mr. Hoeven), S3754 [16MY] Cosponsors added, S3781 [20MY] S.J. Res. 87 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to ‘‘Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern’’; to the Committee on Finance. By Mr. MANCHIN (for himself, Mrs. Fischer, Mr. Brown, Mr. Rubio, Ms. Murkowski, and Mr. Braun), S3754 [16MY] S.J. Res. 88 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘National Emission Standards for Hazardous Air Pollutants: Coal- and Oil-Fired Electric Utility Steam Generating Units Review of the Residual Risk and Technology Review’’; to the Committee on Environment and Public Works. By Mr. HOEVEN (for himself, Mr. Daines, Mrs. Blackburn, Mrs. Capito, Mr. Barrasso, Ms. Lummis, Mr. Cramer, Mr. Wicker, Mr. Lee, Mr. Mullin, and Mrs. Hyde-Smith), S3755 [16MY] Cosponsors added, S3886 [23MY] S.J. Res. 89 — A joint resolution to direct the termination of the use of United States Armed Forces for the construction, maintenance, and operation of the Joint Logistics Over-the-Shore pier on the coast of the Gaza Strip that has not been authorized by Congress; to the Committee on Foreign Relations. By Mr. CRUZ (for himself, Mr. Scott of Florida, Mr. Cornyn, Mrs. Blackburn, and Mr. Braun), S3884 [23MY] S.J. Res. 90 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Health and Human Services relating to ‘‘Nondiscrimination in Health Programs and Activities’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARSHALL (for himself, Mrs. Blackburn, Mr. Rubio, Mr. Braun, Mr. Lee, Mr. Cramer, and Mrs. Britt), S3884 [23MY] Cosponsors added, S4021 [11JN] S.J. Res. 91 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Centers for Medicare & Medicaid Services relating to ‘‘Medicare and Medicaid Programs; Minimum Staffing Standards for Long-Term Care Facilities and Medicaid Institutional Payment Transparency Reporting’’; to the Committee on Finance. By Mr. LANKFORD (for himself, Mr. Manchin, Mr. Braun, Mr. Risch, Mr. Cramer, Mr. Marshall, Mrs. Fischer, Mr. Moran, Mr. Cassidy, Ms. Lummis, Mrs. Hyde-Smith, Ms. Ernst, Mrs. Britt, Mrs. Capito, Mr. Tester, Mr. Hagerty, Mr. Boozman, Mr. Mullin, Mr. Cotton, Mr. Tillis, Ms. Collins, Mr. Cornyn, Mr. Crapo, Mr. Daines, Mrs. Blackburn, Mr. Barrasso, Mr. Thune, Mr. Wicker, Mr. Lee, Mr. Hoeven, and Mr. Sullivan), S3954 [4JN] Cosponsors added, S3993 [5JN], S4021 [11JN], S4056 [12JN], S4182 [20JN] S.J. Res. 92 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘New Source Performance Standards for Greenhouse Gas Emissions From New, Modified, and Reconstructed Fossil Fuel-Fired Electric Generating Units; Emission Guidelines for Greenhouse Gas Emissions From Existing Fossil Fuel-Fired Electric Generating Units; and Repeal of the Affordable Clean Energy Rule’’; to the Committee on Environment and Public Works. By Mrs. CAPITO (for herself, Mr. Manchin, Mr. McConnell, Mr. Thune, Mr. Barrasso, Ms. Ernst, Mr. Daines, Mrs. Blackburn, Mr. Boozman, Mr. Braun, Mrs. Britt, Mr. Budd, Mr. Cassidy, Mr. Cornyn, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Cruz, Mrs. Fischer, Mr. Graham, Mr. Hagerty, Mr. Hawley, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Kennedy, Mr. Lankford, Mr. Lee, Ms. Lummis, Mr. Marshall, Mr. Mullin, Ms. Murkowski, Mr. Ricketts, Mr. Risch, Mr. Rounds, Mr. Rubio, Mr. Schmitt, Mr. Scott of Florida, Mr. Scott of South Carolina, Mr. Sullivan, Mr. Tillis, Mr. Tuberville, Mr. Vance, Mr. Wicker, Mr. Young, and Ms. Collins), S3991 [5JN] S.J. Res. 93 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Commerce relating to ‘‘Revision of Firearms License Requirements’’; to the Committee on Banking, Housing, and Urban Affairs. By Mr. TILLIS (for Mr. Hagerty (for himself, Mr. Barrasso, Mrs. Blackburn, Mr. Braun, Mrs. Britt, Mr. Budd, Mrs. Capito, Mr. Cassidy, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Cruz, Mr. Daines, Mrs. Fischer, Mr. Hawley, Mrs. Hyde-Smith, Mr. Lankford, Mr. Lee, Ms. Lummis, Mr. Marshall, Mr. Mullin, Mr. Ricketts, Mr. Risch, Mr. Rounds, Mr. Rubio, Mr. Schmitt, Mr. Scott of Florida, Mr. Scott of South Carolina, Mr. Thune, Mr. Tillis, Mr. Tuberville, Mr. Vance, and Mr. Wicker)), S3991 [5JN] Cosponsors added, S4056 [12JN] S.J. Res. 94 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the proposed rule submitted by the Office of Refugee Resettlement of the Administration for Children and Families of the Department of Health and Human Services relating to the Unaccompanied Children Program Foundational Rule; to the Committee on the Judiciary. By Mr. GRASSLEY (for himself, Mr. Manchin, Mr. McConnell, Mr. Graham, Mr. Cornyn, Mr. Risch, Mr. Marshall, Mr. Johnson, Mrs. Capito, Mr. Braun, Mr. Hagerty, Mr. Tuberville, Mr. Daines, Mr. Budd, Mrs. Hyde-Smith, Mr. Cramer, Ms. Lummis, Mr. Tillis, Mr. Vance, Mr. Young, Mr. Wicker, Mr. Crapo, Mr. Ricketts, Mr. Cotton, Mr. Scott of Florida, Mr. Hoeven, Ms. Ernst, Mr. Cassidy, Mr. Lankford, Mr. Mullin, Mr. Lee, Mrs. Britt, Mr. Schmitt, Mr. Rubio, Mrs. Blackburn, Mr. Moran, Mrs. Fischer, Mr. Cruz, Mr. Sullivan, Mr. Kennedy, Mr. Hawley, Mr. Rounds, Mr. Barrasso, Mr. Thune, Mr. Boozman, and Mr. Scott of South Carolina), S3991 [5JN] Cosponsors added, S4021 [11JN] S.J. Res. 95 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Hazardous and Solid Waste Management System: Disposal of Coal Combustion Residuals From Electric Utilities; Legacy CCR Surface Impoundments’’; to the Committee on Environment and Public Works. By Mr. MULLIN (for himself, Mrs. Capito, Mr. Barrasso, Mr. Wicker, Mr. Cramer, Mr. Braun, Mr. Ricketts, Ms. Lummis, Mrs. Britt, Mr. Scott of South Carolina, and Mr. Hoeven), S3991 [5JN] Cosponsors added, S4155 [18JN] S.J. Res. 96 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to ‘‘Nondiscrimination on the Basis of Sex in Education Programs or Activities Receiving Federal Financial Assistance’’; to the Committee on Health, Education, Labor, and Pensions. By Mrs. HYDE–SMITH (for herself, Mr. Cassidy, Ms. Lummis, Mrs. Blackburn, Mrs. Britt, Mrs. Fischer, Mr. Tuberville, Mr. Johnson, Mr. Marshall, Mr. Lee, Mr. Risch, Mr. Crapo, Mr. Barrasso, Mr. Cotton, Mr. Scott of South Carolina, Mr. Budd, Mr. Rounds, Mr. Braun, Mr. Wicker, Mr. Tillis, Mr. Daines, Mr. Cramer, Mr. Hoeven, Mr. Cornyn, Mr. Hawley, Mr. Grassley, Mr. Mullin, Mr. Kennedy, Mr. Rubio, Mr. Ricketts, Mr. Graham, Mr. Cruz, Mr. Schmitt, Mr. Lankford, and Mr. Vance), S4055 [12JN] S.J. Res. 97 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. BRAUN (for himself, Mr. Cassidy, Mr. Tuberville, Mr. McConnell, Mr. Thune, Mr. Barrasso, Mrs. Blackburn, Mr. Boozman, Mrs. Britt, Mrs. Capito, Mr. Cornyn, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Daines, Mr. Graham, Mr. Grassley, Mr. Hagerty, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Kennedy, Mr. Lankford, Ms. Lummis, Mr. Marshall, Mr. Moran, Mr. Mullin, Mr. Ricketts, Mr. Risch, Mr. Scott of South Carolina, Mr. Wicker, and Mr. Young), S4084 [13JN] Cosponsors added, S4116 [17JN] S.J. Res. 98 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Agriculture relating to ‘‘Use of Electronic Identification Eartags as Official Identification in Cattle and Bison’’; to the Committee on Agriculture, Nutrition, and Forestry. By Ms. LUMMIS (for herself and Mr. Barrasso), S4153 [18JN] S.J. Res. 99 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Council on Environmental Quality relating to ‘‘National Environmental Policy Act Implementing Regulations Revisions Phase 2’’; to the Committee on Environment and Public Works. By Mr. MANCHIN (for himself, Mr. Sullivan, Mrs. Capito, Mr. Cassidy, Ms. Lummis, Mr. Budd, Mr. Lee, Mr. Risch, Mr. Crapo, Mr. Marshall, Mrs. Britt, Ms. Sinema, Mr. Hoeven, Mr. Barrasso, Mr. Tillis, and Mr. Cruz), S4153 [18JN] S.J. Res. 100 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘New Source Performance Standards for the Synthetic Organic Chemical Manufacturing Industry and National Emission Standards for Hazardous Air Pollutants for the Synthetic Organic Chemical Manufacturing Industry and Group I & II Polymers and Resins Industry.’’; to the Committee on Environment and Public Works. By Mr. KENNEDY (for himself, Mr. Braun, Mr. Cassidy, Mr. Lankford, and Mrs. Blackburn), S4180 [20JN] S. Con. Res. 5 — A concurrent resolution supporting the Local Radio Freedom Act; to the Committee on Commerce, Science, and Transportation. Cosponsors added, S2516 [21MR] S. Con. Res. 8 — A concurrent resolution expressing the sense of Congress that tax-exempt fraternal benefit societies have historically provided and continue to provide critical benefits to the people and communities of the United States; to the Committee on Finance. Cosponsors added, S3001 [23AP], S4117 [17JN] S. Con. Res. 16 — A concurrent resolution urging all countries to outlaw the dog and cat meat trade and to enforce existing laws against such trade; to the Committee on Foreign Relations. Cosponsors added, S149 [17JA] S. Con. Res. 18 — A concurrent resolution calling for the immediate release of Marc Fogel, a United States citizen and teacher, who was given an unjust and disproportionate criminal sentence by the Government of the Russian Federation in June 2022; to the Committee on Foreign Relations. Reported with amendment (no written report), S3503 [7MY] Agreed to in the Senate, S3961 [4JN] Text, S3961 [4JN] Message from the Senate (received June 6, 2024), H3677 [7JN] Held at the desk, H3677 [7JN] S. Con. Res. 23 — A concurrent resolution expressing the sense of Congress that a carbon tax would be detrimental to the economy of the United States; to the Committee on Finance. Cosponsors added, S149 [17JA], S310 [31JA] S. Con. Res. 24 — A concurrent resolution condemning the hostilities in Sudan and standing with the people of Sudan in their calls for peace and their democratic aspirations; to the Committee on Foreign Relations. Cosponsors added, S2599 [22MR] S. Con. Res. 25 — A concurrent resolution providing for a correction in the enrollment of H.R. 2872. By Mrs. MURRAY, S186 [18JA] Message from the Senate, H230 [18JA] Agreed to in the House, H230 [18JA] Text, H230 [18JA] Text, S189 [18JA] Agreed to in the Senate, S189 [18JA] Message from the House, S201 [22JA] S. Con. Res. 26 — A concurrent resolution recognizing and supporting the efforts of the New Heights Bid Committee to bring the 2027 Federation Internationale de Football Association (FIFA) Women’s World Cup competition to the United States and Mexico. By Mr. YOUNG (for himself, Mr. Murphy, Mr. Cramer, Mr. Van Hollen, Mrs. Capito, and Ms. Cantwell), S222 [23JA] Text, S224 [23JA] Agreed to in the Senate, S225 [23JA] Message from the Senate (received January 25, 2024), H257 [29JA] Held at the desk, H257 [29JA] S. Con. Res. 27 — A concurrent resolution recognizing the need for research, education, and policy development regarding high-potency marijuana; to the Committee on Health, Education, Labor, and Pensions. By Mr. RICKETTS, S343 [1FE] Text, S349 [1FE] S. Con. Res. 28 — A concurrent resolution expressing the sense of Congress regarding the authority of the President to use appropriate and necessary force to liberate United States citizens being held by Hamas; to the Committee on Foreign Relations. By Mr. SCOTT of South Carolina (for himself and Mr. Wicker), S955 [12FE] Text, S959 [12FE] Cosponsors added, S987 [26FE] S. Con. Res. 29 — A concurrent resolution providing for a correction in the enrollment of H.R. 815. By Mrs. MURRAY, S955 [12FE] Text, S959 [12FE] Agreed to in the Senate, S960 [12FE] Message from the Senate, H551 [13FE] Held at the desk, H551 [13FE] Agreed to in the House, H2622 [20AP] Text, H2622 [20AP] Message from the House, S2997 [23AP] S. Con. Res. 30 — A concurrent resolution expressing support for the recognition of March 10, 2024, as ‘‘Abortion Provider Appreciation Day’’; to the Committee on Health, Education, Labor, and Pensions. By Ms. HIRONO (for herself, Mr. Peters, Mr. Blumenthal, Ms. Duckworth, Mr. Fetterman, Mr. Markey, Mr. Padilla, Mr. Welch, Ms. Warren, Ms. Butler, Mr. Booker, Mr. Wyden, Ms. Smith, Mrs. Murray, Mr. Murphy, and Mr. Heinrich), S2279 [7MR] Text, S2284 [7MR] S. Con. Res. 31 — A concurrent resolution recognizing the need to improve physical access to many federally funded facilities for all people of the United States, particularly people with disabilities; to the Committee on Health, Education, Labor, and Pensions. By Mr. BLUMENTHAL (for himself, Mr. Fetterman, Mr. Kelly, Ms. Duckworth, Mr. Casey, Mr. Sanders, Mr. Merkley, and Mr. Van Hollen), S2597 [22MR] Text, S2606 [22MR] S. Con. Res. 32 — A concurrent resolution supporting the goals and ideals of International Transgender Day of Visibility; to the Committee on the Judiciary. By Mr. SCHATZ (for himself, Mr. Merkley, Mr. Carper, Ms. Hirono, Ms. Baldwin, Ms. Cortez Masto, Mr. Casey, Mr. Durbin, Mr. Markey, Mr. Bennet, Mr. Welch, Mrs. Murray, Mr. Murphy, Mr. Wyden, Mr. Van Hollen, Mr. Fetterman, Mr. Booker, Mr. Coons, Ms. Warren, Mr. Blumenthal, Mr. Padilla, Ms. Duckworth, Mr. Kelly, and Mr. Heinrich), S2597 [22MR] Text, S2607 [22MR] Cosponsors added, S2646 [8AP] S. Con. Res. 33 — A concurrent resolution authorizing the use of the rotunda of the Capitol for the lying in honor of the remains of Ralph Puckett, Jr., the last surviving Medal of Honor recipient for acts performed during the Korean conflict. By Ms. ERNST (for herself, Mr. Tester, Mr. Warnock, Mr. Cotton, Mr. Kaine, Mr. Blumenthal, Mr. Kelly, Mr. Scott of Florida, Mr. Cruz, and Mr. Manchin), S2828 [17AP] Message from the Senate, H2480 [17AP] Held at the desk, H2480 [17AP] Agreed to in the House, H2484 [17AP] Text, H2484 [17AP] Agreed to in the Senate, S2798 [17AP] Text, S2830 [17AP] Message from the House, S2869 [18AP] S. Con. Res. 34 — A concurrent resolution establishing the Joint Congressional Committee on Inaugural Ceremonies for the inauguration of the President-elect and Vice President-elect of the United States on January 20, 2025. By Ms. KLOBUCHAR, S3317 [2MY] Text, S3323 [2MY] Agreed to in the Senate, S3368 [2MY] Message from the Senate (received May 3, 2024), H2840 [6MY] Agreed to in the House, H2861 [6MY] Text, H2861 [6MY] Message from the House, S3501 [7MY] S. Con. Res. 35 — A concurrent resolution authorizing the use of the rotunda and Emancipation Hall of the Capitol by the Joint Congressional Committee on Inaugural Ceremonies in connection with the proceedings and ceremonies conducted for the inauguration of the President-elect and the Vice President-elect of the United States. By Ms. KLOBUCHAR (for herself and Mrs. Fischer), S3317 [2MY] Text, S3323 [2MY] Agreed to in the Senate, S3368 [2MY] Message from the Senate (received May 3, 2024), H2840 [6MY] Agreed to in the House, H2861 [6MY] Text, H2861 [6MY] Message from the House, S3501 [7MY] S. Con. Res. 36 — A concurrent resolution authorizing the use of Emancipation Hall in the Capitol Visitor Center for an event to celebrate the birthday of King Kamehameha I. By Mr. SCHATZ (for himself and Ms. Hirono), S3597 [8MY] Text, S3600 [8MY] Agreed to in the Senate, S3625 [8MY] Message from the Senate (received May 9, 2024), H3001 [10MY] Held at the desk, H3001 [10MY] Agreed to in the House, H3389 [21MY] Text, H3389 [21MY] Message from the House, S3849 [22MY] S. Res. 64 — A resolution to authorize testimony and representation in United States v. GossJankowski. Text, S2519 [21MR] S. Res. 67 — A resolution supporting the goals and ideals of ‘‘Career and Technical Education Month’’. Read the first time, S2618 [22MR] S. Res. 68 — A resolution designating the week of February 11 through February 18, 2023, as ‘‘National Entrepreneurship Week’’ to recognize the importance and contributions of entrepreneurs and startups to the economic prosperity of the United States and the well-being of every community across the United States. Read the first time, S2618 [22MR] S. Res. 69 — A resolution expressing support for the designation of February 18 through February 25, 2023, as ‘‘National FFA Week’’ , recognizing the important role of the National FFA Organization in developing the next generation of globally conscious leaders who will change the world and in celebration of the 95th anniversary of the National FFA Organization. Read the first time, S2618 [22MR] S. Res. 74 — A resolution condemning the Government of Iran’s state-sponsored persecution of the Baha’i minority and its continued violation of the International Covenants on Human Rights; to the Committee on Foreign Relations. Cosponsors added, S2792 [16AP], S3956 [4JN] S. Res. 81 — A resolution relating to the establishment of a means for the Senate to provide advice and consent regarding the form of an international agreement relating to pandemic prevention, preparedness, and response; to the Committee on Foreign Relations. Cosponsors added, S3956 [4JN] S. Res. 158 — A resolution condemning the deportation of children from Ukraine to the Russian Federation and the forcible transfer of children within territories of Ukraine that are temporarily occupied by Russian forces; to the Committee on Foreign Relations. Cosponsors added, S252 [24JA], S2876 [18AP] S. Res. 169 — A resolution expressing the sense of the Senate that Secretary of Homeland Security Alejandro Nicholas Mayorkas does not have the confidence of the Senate or of the American people to faithfully carry out the duties of his office; to the Committee on Homeland Security and Governmental Affairs. Objection is heard to request for consideration, S37 [9JA] S. Res. 173 — A resolution recognizing the duty of the Federal Government to create a Green New Deal; to the Committee on Environment and Public Works. Cosponsors added, S1014 [27FE] S. Res. 174 — A resolution condemning the human rights record of the Government of the Kingdom of Eswatini and the brutal killing of Eswatini activist Thulani Maseko on January 21, 2023; to the Committee on Foreign Relations. Amendments, S2752, S2754, S2755 [15AP] Agreed to in the Senate amended, S2754 [15AP] Text, S2755 [15AP] S. Res. 186 — A resolution seeking justice for the Japanese citizens abducted by North Korea; to the Committee on Foreign Relations. Cosponsors added, S223 [23JA], S3080 [30AP], S3932 [3JN] S. Res. 213 — A resolution expressing support for the designation of May 2023 as ‘‘Renewable Fuels Month’’ to recognize the important role that renewable fuels play in reducing carbon impacts, lowering fuel prices for consumers, supporting rural communities, and lessening reliance on foreign adversaries; to the Committee on Energy and Natural Resources. Cosponsors added, S3080 [30AP] S. Res. 333 — A resolution designating 2024 as the Year of Democracy as a time to reflect on the contributions of the system of Government of the United States to a more free and stable world; to the Committee on the Judiciary. Cosponsors added, S75 [10JA], S95 [11JA], S123 [16JA], S149 [17JA], S187 [18JA], S203 [22JA] Committee discharged. Agreed to in the Senate, S2618 [22MR] S. Res. 357 — A resolution recognizing the formation of the Alliance for Development in Democracy and urging the United States to pursue deeper ties with its member countries; to the Committee on Foreign Relations. Reported (no written report), S3503 [7MY] S. Res. 385 — A resolution calling for the immediate release of Evan Gershkovich, a United States citizen and journalist, who was wrongfully detained by the Government of the Russian Federation in March 2023; to the Committee on Foreign Relations. Cosponsors added, S2669 [9AP], S2792 [16AP] Reported (no written report), S3503 [7MY] Agreed to in the Senate, S3961 [4JN] S. Res. 450 — A resolution expressing the sense of the Senate that paraprofessionals and education support staff should have fair compensation, benefits, and working conditions; to the Committee on Health, Education, Labor, and Pensions. Cosponsors added, S497 [8FE], S987 [26FE], S2214 [5MR], S2708 [10AP], S2933 [19AP], S3318 [2MY], S3687 [14MY] S. Res. 466 — A resolution calling upon the United States Senate to give its advice and consent to the ratification of the United Nations Convention on the Law of the Sea; to the Committee on Foreign Relations. Cosponsors added, S2876 [18AP] S. Res. 494 — A resolution expressing the need for the Federal Government to establish a national biodiversity strategy for protecting biodiversity for current and future generations; to the Committee on Environment and Public Works. Cosponsors added, S149 [17JA] S. Res. 496 — A resolution designating September 2023 as ‘‘National Cholesterol Education Month’’ and September 30, 2023, as LDL–C Awareness Day; to the Committee on the Judiciary. Cosponsors added, S223 [23JA] Committee discharged. Agreed to in the Senate, S1014 [27FE] S. Res. 504 — A resolution requesting information on Israel’s human rights practices pursuant to section 502B(c) of the Foreign Assistance Act of 1961; to the Committee on Foreign Relations. Motion to discharge the Committee on Foreign Relations, S113 [16JA] Motion to discharge the Committee on Foreign Relations tabled, S117 [16JA] S. Res. 505 — A resolution condemning the use of sexual violence and rape as a weapon of war by the terrorist group Hamas against the people of Israel; to the Committee on Foreign Relations. Cosponsors added, S2669 [9AP], S3857 [22MY], S4021 [11JN] Reported with amendment (no written report), S3503 [7MY] S. Res. 515 — A resolution condemning attacks by Iranian military proxies on the armed forces of the United States in Iraq and Syria and emphasizing the urgency of responding to and deterring such attacks; to the Committee on Foreign Relations. Cosponsors added, S17 [8JA], S75 [10JA], S95 [11JA] S. Res. 518 — A resolution expressing solidarity with the people of Guatemala and urging the Government of Guatemala to permit a peaceful transfer of power to President-elect Bernardo Arevalo; to the Committee on Foreign Relations. By Mr. CARDIN (for himself, Mr. Durbin, Mr. Kaine, Mr. Merkley, Ms. Butler, and Mr. Welch), S74 [10JA] Text, S75 [10JA] S. Res. 519 — A resolution congratulating the South Dakota State University Jackrabbits on winning the 2024 National Collegiate Athletic Association Division I Football Championship Subdivision title. By Mr. Thune (for himself and Mr. Rounds), S94 [11JA] Agreed to in the Senate, S81 [11JA] Text, S95 [11JA] S. Res. 520 — A resolution congratulating the University of Michigan Wolverines football team for winning the 2024 National Collegiate Athletic Association College Football National Championship; to the Committee on Commerce, Science, and Transportation. By Ms. Stabenow (for herself and Mr. Peters), S94 [11JA] Text, S95 [11JA] Committee discharged. Agreed to in the Senate, S141 [17JA] S. Res. 521 — A resolution commending Taiwan for its history of democratic elections, and expressing support of Taiwan’s democratic institutions. By Mr. Sullivan (for himself, Mr. Kaine, Mr. Scott of South Carolina, Mr. Cramer, Mr. Coons, Mr. Cornyn, Mr. Schmitt, Mr. Ricketts, Ms. Murkowski, Mr. Crapo, Mr. Budd, Mr. Van Hollen, Mr. Cruz, Mr. Daines, Mr. Tillis, Mr. Young, Mr. Merkley, Mr. Schatz, Mr. Romney, Ms. Duckworth, Mrs. Shaheen, Mr. Hoeven, Mr. Markey, Ms. Rosen, Mr. Scott of Florida, Mrs. Blackburn, Ms. Lummis, Mr. Grassley, Mr. Warnock, Mr. Graham, Mrs. Britt, Mrs. Fischer, Mr. Cassidy, Mr. Wyden, Mr. Durbin, Ms. Cortez Masto, Ms. Sinema, Mr. Booker, Mr. Manchin, Mr. Marshall, Mrs. Hyde-Smith, Mr. Rounds, Mr. Barrasso, Mrs. Murray, Mr. Lankford, Mr. Bennet, Mr. Kennedy, Mr. Hickenlooper, and Mr. Cotton), S94 [11JA] Text, S95 [11JA] Agreed to in the Senate, S98 [11JA] S. Res. 522 — A resolution to authorize testimony and representation in United States v. Todd. By Mr. Schumer (for himself and Mr. McConnell), S94 [11JA] Text, S96 [11JA] Agreed to in the Senate, S97 [11JA] S. Res. 523 — A resolution honoring the life and legacy of the late Senator Herb Kohl. By Ms. Baldwin (for herself, Mr. Johnson, Mr. Schumer, Mr. McConnell, Mr. Barrasso, Mr. Bennet, Mrs. Blackburn, Mr. Blumenthal, Mr. Booker, Mr. Boozman, Mr. Braun, Mrs. Britt, Mr. Brown, Mr. Budd, Ms. Butler, Ms. Cantwell, Mrs. Capito, Mr. Cardin, Mr. Carper, Mr. Casey, Mr. Cassidy, Ms. Collins, Mr. Coons, Mr. Cornyn, Ms. Cortez Masto, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Cruz, Mr. Daines, Ms. Duckworth, Mr. Durbin, Ms. Ernst, Mr. Fetterman, Mrs. Fischer, Mrs. Gillibrand, Mr. Graham, Mr. Grassley, Mr. Hagerty, Ms. Hassan, Mr. Hawley, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Kaine, Mr. Kelly, Mr. Kennedy, Mr. King, Ms. Klobuchar, Mr. Lankford, Mr. Lee, Mr. Luján, Ms. Lummis, Mr. Manchin, Mr. Markey, Mr. Marshall, Mr. Menendez, Mr. Merkley, Mr. Moran, Mr. Mullin, Ms. Murkowski, Mr. Murphy, Mrs. Murray, Mr. Ossoff, Mr. Padilla, Mr. Paul, Mr. Peters, Mr. Reed, Mr. Ricketts, Mr. Risch, Mr. Romney, Ms. Rosen, Mr. Rounds, Mr. Rubio, Mr. Sanders, Mr. Schatz, Mr. Schmitt, Mr. Scott of Florida, Mr. Scott of South Carolina, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Sullivan, Mr. Tester, Mr. Thune, Mr. Tillis, Mr. Tuberville, Mr. Van Hollen, Mr. Vance, Mr. Warner, Mr. Warnock, Ms. Warren, Mr. Welch, Mr. Whitehouse, Mr. Wicker, Mr. Wyden, and Mr. Young), S94 [11JA] Text, S96 [11JA] Agreed to in the Senate, S98 [11JA] S. Res. 524 — A resolution congratulating the University of Missouri Tigers for winning the 2023 Goodyear Cotton Bowl Classic; to the Committee on Commerce, Science, and Transportation. By Mr. Schmitt (for himself and Mr. Hawley), S94 [11JA] Text, S97 [11JA] S. Res. 525 — A resolution expressing support for the designation of October 2023 as ‘‘National Co-Op Month’’ and commending the cooperative business model and the member-owners, businesses, employees, farmers, ranchers, and practitioners who use the cooperative business model to positively impact the economy and society. By Ms. SMITH (for herself and Mr. Hoeven), S147 [17JA] Agreed to in the Senate, S141 [17JA] Text, S150 [17JA] S. Res. 526 — A resolution repealing standing orders relating to flowers in the Senate Chamber. By Mrs. FISCHER (for herself and Ms. Klobuchar), S147 [17JA] Agreed to in the Senate, S141 [17JA] Text, S151 [17JA] S. Res. 527 — A resolution to commend and congratulate the Harding University football team for winning the 2023 National Collegiate Athletic Association Division II national championship. By Mr. BOOZMAN (for himself and Mr. Cotton), S186 [18JA] Text, S187 [18JA] Agreed to in the Senate, S191 [18JA] S. Res. 528 — A resolution raising awareness and encouraging the prevention of stalking by designating January 2024 as ‘‘National Stalking Awareness Month’’; to the Committee on the Judiciary. By Ms. KLOBUCHAR (for herself, Mr. Grassley, Mr. Durbin, Ms. Hirono, and Ms. Butler), S186 [18JA] Text, S188 [18JA] Cosponsors added, S223 [23JA], S252 [24JA] Committee discharged. Agreed to in the Senate, S225 [23JA] S. Res. 529 — A resolution recognizing January 2024 as ‘‘National Mentoring Month’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. WHITEHOUSE (for himself, Mrs. Capito, Mr. Luján, Mr. Markey, Mr. Kaine, Mr. Van Hollen, Mr. Reed, Mr. Lankford, Mrs. Blackburn, Ms. Collins, Mr. Durbin, Mr. Blumenthal, Mr. Murphy, Ms. Duckworth, Mr. Carper, Mr. Rubio, Mr. Booker, Mr. King, Ms. Smith, Mrs. Hyde-Smith, Ms. Butler, Mr. Coons, Ms. Hassan, Ms. Baldwin, Ms. Klobuchar, Mrs. Britt, Mr. Sullivan, Mr. Wyden, Mr. Braun, Mr. Welch, Mr. Sanders, Mr. Cornyn, and Mr. Mullin), S186 [18JA] Text, S188 [18JA] Committee discharged. Agreed to in the Senate, S350 [1FE] S. Res. 530 — A resolution designating January 23, 2024, as ‘‘Maternal Health Awareness Day’’; to the Committee on the Judiciary. By Mr. BOOKER (for himself, Mr. Menendez, Ms. Stabenow, Mr. Warnock, Ms. Hirono, Ms. Klobuchar, Mr. Van Hollen, Ms. Butler, Mr. Murphy, and Mr. Welch), S222 [23JA] Text, S223 [23JA] S. Res. 531 — A resolution designating the week of January 21 through January 27, 2024, as ‘‘National School Choice Week’’; to the Committee on the Judiciary. By Mr. SCOTT of South Carolina (for himself, Mr. Cotton, Mr. Budd, Mr. Johnson, Mr. Hagerty, Mr. Tuberville, Mr. Cassidy, Mrs. Blackburn, Mr. Cramer, Mr. Scott of Florida, Mr. Rubio, Mr. Tillis, Mrs. Hyde-Smith, Mr. Boozman, Mr. Risch, Mr. Romney, Mrs. Britt, Mr. Crapo, Mr. Braun, Mr. Lee, Mr. Wicker, Mr. Ricketts, Mr. Cruz, Mr. Cornyn, Mr. McConnell, and Mr. Young), S251 [24JA] Text, S252 [24JA] S. Res. 532 — A resolution recognizing and supporting the goals and ideals of National Medicolegal Death Investigation Professionals Week; to the Committee on the Judiciary. By Mr. CORNYN (for himself and Mr. Murphy), S269 [25JA] Text, S271 [25JA] Committee discharged. Agreed to in the Senate, S2618 [22MR] S. Res. 533 — A resolution expressing support for the designation of January 21 through 27, 2024, as ‘‘National Board Certified Teachers Week’’. By Mr. HEINRICH (for himself, Mrs. Britt, Ms. Hirono, Mrs. Hyde-Smith, Mr. Kaine, Mr. Fetterman, Mr. King, Mr. Wyden, Ms. Smith, and Mr. Van Hollen), S269 [25JA] Text, S271 [25JA] Agreed to in the Senate, S272 [25JA] S. Res. 534 — A resolution expressing support for the recognition of January as ‘‘Muslim-American Heritage Month’’ and celebrating the heritage and culture of Muslim Americans in the United States; to the Committee on the Judiciary. By Mr. BOOKER (for himself, Mr. Fetterman, Mr. Blumenthal, Mr. Padilla, Mr. Kaine, Ms. Klobuchar, Mrs. Murray, Mr. Van Hollen, Mr. Welch, and Mr. Durbin), S269 [25JA] Text, S271 [25JA] Cosponsors added, S289 [30JA] S. Res. 535 — A resolution recognizing January 30, 2024, as ‘‘Help America Vote Day’’. By Ms. KLOBUCHAR (for herself and Mrs. Fischer), S287 [30JA] Text, S290 [30JA] Agreed to in the Senate, S290 [30JA] S. Res. 536 — A resolution honoring the life, bravery, and memory of Sergeant Rose Ida Lubin; to the Committee on the Judiciary. By Mr. OSSOFF (for himself and Mr. Warnock), S309 [31JA] Text, S311 [31JA] S. Res. 537 — A resolution expressing the sense of the Senate that the United States should recognize the 1994 genocide in Rwanda as ‘‘the genocide against the Tutsi in Rwanda’’; to the Committee on Foreign Relations. By Mr. ROUNDS, S309 [31JA] Text, S312 [31JA] Cosponsors added, S2646 [8AP] S. Res. 538 — A resolution commending Blue Mountain Christian University for 150 years of service to the State of Mississippi and the United States. By Mrs. HYDE-SMITH (for herself and Mr. Wicker), S309 [31JA] Text, S312 [31JA] Agreed to in the Senate, S322 [31JA] S. Res. 539 — A resolution supporting the contributions of Catholic schools in the United States and celebrating the 50th annual National Catholic Schools Week. By Mr. RUBIO (for himself and Mr. Casey), S309 [31JA] Text, S312 [31JA] Agreed to in the Senate, S322 [31JA] S. Res. 540 — A resolution requesting information on Azerbaijan’s human rights practices pursuant to section 502B(c) of the Foreign Assistance Act of 1961; to the Committee on Foreign Relations. By Mr. MARKEY (for himself, Mr. Cassidy, Mr. Peters, Mr. Rubio, Mr. Whitehouse, Ms. Warren, Mr. Welch, Mr. Menendez, and Mr. Fetterman), S343 [1FE] Text, S348 [1FE] Cosponsors added, S987 [26FE], S2516 [21MR], S4155 [18JN] S. Res. 541 — A resolution supporting the observation of National Trafficking and Modern Slavery Prevention Month during the period beginning on January 1, 2024, and ending on February 1, 2024, to raise awareness of, and opposition to, human trafficking and modern slavery. By Mr. GRASSLEY (for himself, Ms. Cortez Masto, Mrs. Capito, Mr. Wyden, Ms. Murkowski, Mr. Durbin, Ms. Collins, Ms. Klobuchar, Mr. Blumenthal, Mr. Brown, and Ms. Butler), S343 [1FE] Text, S348 [1FE] Agreed to in the Senate, S350 [1FE] S. Res. 542 — A resolution supporting the observation of ‘‘National Girls & Women in Sports Day’’ on February 7, 2024, to raise awareness of and celebrate the achievements of girls and women in sports; to the Committee on Commerce, Science, and Transportation. By Ms. BUTLER (for herself, Mrs. Capito, Mrs. Murray, Ms. Cantwell, Ms. Hirono, Mrs. Britt, Mr. Durbin, Ms. Collins, Ms. Baldwin, Mrs. Blackburn, Ms. Cortez Masto, Ms. Rosen, and Mrs. Shaheen), S361 [5FE] Text, S362 [5FE] S. Res. 543 — A resolution to express the sense of the Senate regarding the constitutional right of State Governors to repel the dangerous ongoing invasion across the United States southern border; to the Committee on the Judiciary. By Mr. MARSHALL, S421 [6FE] Text, S424 [6FE] Cosponsors added, S497 [8FE] S. Res. 544 — A resolution designating the week beginning February 5, 2024, as ‘‘National Tribal Colleges and Universities Week’’. By Mr. TESTER (for himself, Mr. Daines, Mr. Schatz, Mr. Luján, Ms. Klobuchar, Ms. Sinema, Ms. Warren, Ms. Baldwin, Ms. Smith, Mr. Heinrich, Ms. Hirono, Ms. Cantwell, Mr. Durbin, Mr. Bennet, Ms. Rosen, Mr. Rounds, Mr. Johnson, Mr. Cramer, Mr. Lankford, Mr. Hoeven, Mr. Barrasso, Mr. Thune, Mr. Moran, Mrs. Fischer, and Mr. Kelly), S421 [6FE] Text, S425 [6FE] Agreed to in the Senate, S426 [6FE] S. Res. 545 — A resolution recognizing the importance of trilateral cooperation among the United States, Japan, and South Korea; to the Committee on Foreign Relations. By Mr. SULLIVAN (for himself, Mr. Van Hollen, Mrs. Shaheen, Mr. Merkley, Mr. Hagerty, Mr. Cornyn, Mr. Young, and Ms. Duckworth), S495 [8FE] Text, S499 [8FE] Cosponsors added, S2280 [7MR] S. Res. 546 — A resolution designating February 2024 as ‘‘Hawaiian Language Month’’ or ‘‘ ‘Olelo Hawai‘i Month’’; to the Committee on the Judiciary. By Mr. SCHATZ (for himself and Ms. Hirono), S495 [8FE] Text, S499 [8FE] S. Res. 547 — A resolution acknowledging the two-year anniversary of Russia’s further invasion of Ukraine and expressing support for the people of Ukraine; to the Committee on Foreign Relations. By Mrs. SHAHEEN (for herself, Mr. Tillis, Mr. Durbin, Mr. Ricketts, Mr. Blumenthal, Mr. Kaine, Mr. Hickenlooper, Mr. Coons, Mr. Casey, Mrs. Gillibrand, Mr. Manchin, Ms. Duckworth, Ms. Sinema, Mr. Welch, Mr. Whitehouse, Mr. Bennet, Mr. Kelly, Mr. Warnock, Mr. Fetterman, Ms. Hassan, Mr. Merkley, Ms. Smith, Mr. Wyden, Mr. Padilla, Mr. Peters, Mr. Reed, Mr. Carper, Mrs. Murray, Ms. Cortez Masto, Mr. Brown, Mr. Sanders, Mr. Tester, and Ms. Klobuchar), S495 [8FE] Text, S500 [8FE] Cosponsors added, S600 [9FE], S1014 [27FE] S. Res. 548 — A resolution designating the week of February 5 through 9, 2024, as ‘‘National School Counseling Week’’. By Mrs. MURRAY (for herself, Ms. Collins, Mr. Blumenthal, Mr. Brown, Ms. Duckworth, Mr. Durbin, Ms. Hassan, Ms. Hirono, Mr. King, Ms. Klobuchar, Mr. Merkley, Mr. Padilla, Mr. Sanders, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Van Hollen, Mr. Welch, and Mr. Wyden), S495 [8FE] Agreed to in the Senate, S489 [8FE] Text, S500 [8FE] S. Res. 549 — A resolution expressing support for the designation of February 17 through February 24, 2024, as ‘‘National FFA Week’’, recognizing the important role of the National FFA Organization in developing the next generation of globally conscious leaders who will change the world, and celebrating the 10th anniversary of the ‘‘Give the Gift of Blue’’ program, which has donated more than 17,000 of the iconic FFA blue jackets to FFA members in need. By Mr. YOUNG (for himself, Mr. Coons, Mr. Booker, Mr. Blumenthal, Ms. Butler, Mr. Carper, Ms. Cortez Masto, Mr. Durbin, Ms. Hassan, Mr. Hickenlooper, Mr. Kaine, Mr. Kelly, Mr. King, Ms. Klobuchar, Mr. Luján, Mr. Merkley, Mr. Ossoff, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Warnock, Mr. Grassley, Ms. Lummis, Mr. Daines, Mr. Marshall, Mr. Risch, Mr. Tillis, Mr. Hagerty, Mr. Cotton, Mr. Barrasso, Mrs. Blackburn, Mr. Crapo, Mrs. Capito, Mr. Boozman, Mr. Cramer, Mr. Graham, Mr. Thune, Mr. McConnell, Mr. Ricketts, Mr. Hoeven, Mr. Schmitt, Mr. Mullin, Mr. Kennedy, Mr. Braun, Ms. Ernst, Ms. Collins, Mrs. Britt, Mrs. Hyde-Smith, Mr. Cornyn, Mr. Lankford, Mr. Wicker, Mr. Scott of Florida, Ms. Duckworth, Mrs. Shaheen, Mr. Cruz, and Mr. Scott of South Carolina), S495 [8FE] Agreed to in the Senate, S489 [8FE] Text, S501 [8FE] S. Res. 550 — A resolution supporting the goals and ideals of ‘‘Career and Technical Education Month’’. By Mr. KAINE (for himself, Mr. Young, Ms. Baldwin, Mr. Budd, Mr. Barrasso, Mr. Blumenthal, Mr. Booker, Mrs. Britt, Mr. Brown, Ms. Cantwell, Mrs. Capito, Mr. Carper, Mr. Casey, Mr. Cassidy, Ms. Collins, Mr. Coons, Ms. Cortez Masto, Mr. Cramer, Mr. Crapo, Mr. Daines, Ms. Duckworth, Mr. Durbin, Mr. Fetterman, Mr. Grassley, Mr. Hagerty, Ms. Hassan, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. King, Ms. Klobuchar, Mr. Lankford, Mr. Luján, Ms. Lummis, Mr. Manchin, Mr. Marshall, Mr. Merkley, Mrs. Murray, Mr. Padilla, Mr. Peters, Mr. Reed, Mr. Risch, Ms. Rosen, Mr. Rounds, Mr. Rubio, Mr. Sanders, Mr. Scott of South Carolina, Mrs. Shaheen, Ms. Smith, Mr. Thune, Mr. Tillis, Mr. Van Hollen, Mr. Warner, Mr. Whitehouse, Mr. Wicker, Mr. Wyden, Mrs. Hyde-Smith, Mr. Bennet, Mr. Braun, and Ms. Ernst), S495 [8FE] Agreed to in the Senate, S489 [8FE] Text, S501 [8FE] S. Res. 551 — A resolution celebrating Black History Month. By Mr. BOOKER (for himself, Mr. Scott of South Carolina, Mr. Warnock, Ms. Butler, Mrs. Hyde-Smith, Ms. Cortez Masto, Mr. Risch, Mr. Carper, Mr. Cramer, Mr. Schatz, Mr. Moran, Mr. Blumenthal, Mrs. Capito, Mr. Cardin, Mr. Scott of Florida, Mr. Kaine, Mr. Crapo, Mr. Padilla, Mr. Sullivan, Ms. Klobuchar, Mr. Rubio, Mr. Reed, Mr. Coons, Mr. Casey, Mr. Merkley, Mr. Durbin, Mr. Fetterman, Mr. Sanders, Ms. Hassan, Mr. Van Hollen, Mr. Whitehouse, Ms. Warren, Ms. Baldwin, Ms. Rosen, Ms. Stabenow, Mr. King, Ms. Cantwell, Ms. Hirono, Mr. Heinrich, Ms. Smith, Mr. Ossoff, Mr. Kelly, Mrs. Murray, Mr. Wyden, Mrs. Shaheen, Mr. Warner, Mr. Murphy, Mr. Luján, Mr. Markey, Mr. Welch, Mr. Wicker, Mr. Cornyn, Ms. Duckworth, Mr. Hickenlooper, Mr. Peters, Mrs. Britt, and Mr. Brown), S495 [8FE] Agreed to in the Senate, S489 [8FE] Text, S502 [8FE] S. Res. 552 — A resolution to authorize testimony and representation in People of the State of Michigan v. Berden, et al. By Mr. SCHUMER (for himself and Mr. McConnell), S496 [8FE] Agreed to in the Senate, S489 [8FE] Text, S502 [8FE] S. Res. 553 — A resolution honoring the life of Jean A. Carnahan, former Senator for the State of Missouri. By Mr. HAWLEY (for himself, Mr. Schmitt, Mr. Schumer, Mr. McConnell, Ms. Baldwin, Mr. Barrasso, Mr. Bennet, Mrs. Blackburn, Mr. Blumenthal, Mr. Booker, Mr. Boozman, Mr. Braun, Mrs. Britt, Mr. Brown, Mr. Budd, Ms. Butler, Ms. Cantwell, Mrs. Capito, Mr. Cardin, Mr. Carper, Mr. Casey, Mr. Cassidy, Ms. Collins, Mr. Coons, Mr. Cornyn, Ms. Cortez Masto, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Cruz, Mr. Daines, Ms. Duckworth, Mr. Durbin, Ms. Ernst, Mr. Fetterman, Mrs. Fischer, Mrs. Gillibrand, Mr. Graham, Mr. Grassley, Mr. Hagerty, Ms. Hassan, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Johnson, Mr. Kaine, Mr. Kelly, Mr. Kennedy, Mr. King, Ms. Klobuchar, Mr. Lankford, Mr. Lee, Mr. Luján, Ms. Lummis, Mr. Manchin, Mr. Markey, Mr. Marshall, Mr. Menendez, Mr. Merkley, Mr. Moran, Mr. Mullin, Ms. Murkowski, Mr. Murphy, Mrs. Murray, Mr. Ossoff, Mr. Padilla, Mr. Paul, Mr. Peters, Mr. Reed, Mr. Ricketts, Mr. Risch, Mr. Romney, Ms. Rosen, Mr. Rounds, Mr. Rubio, Mr. Sanders, Mr. Schatz, Mr. Scott of Florida, Mr. Scott of South Carolina, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Sullivan, Mr. Tester, Mr. Thune, Mr. Tillis, Mr. Tuberville, Mr. Van Hollen, Mr. Vance, Mr. Warner, Mr. Warnock, Ms. Warren, Mr. Welch, Mr. Whitehouse, Mr. Wicker, Mr. Wyden, and Mr. Young), S496 [8FE] Agreed to in the Senate, S489 [8FE] Text, S503 [8FE] Message from the Senate (received February 12, 2024), H551 [13FE] S. Res. 554 — A resolution calling for the urgent delivery of sufficient humanitarian aid to address the needs of civilians in Gaza; to the Committee on Foreign Relations. By Mr. WELCH (for himself, Mr. Kaine, Mr. Van Hollen, Mr. Sanders, Mr. Merkley, Ms. Smith, Mr. Booker, Mr. Bennet, Mrs. Murray, Mr. Warnock, Ms. Warren, Mr. Warner, Mr. Schatz, Ms. Stabenow, Ms. Klobuchar, and Mr. King), S599 [9FE] Text, S600 [9FE] S. Res. 555 — A resolution designating the week of February 10 through February 17, 2024, as ‘‘National Entrepreneurship Week’’ to recognize the importance and contributions of entrepreneurs and startups to the economic prosperity of the United States and the well-being of every community across the United States. By Ms. KLOBUCHAR (for herself and Mr. Scott of South Carolina), S599 [9FE] Text, S600 [9FE] Agreed to in the Senate, S803 [9FE] S. Res. 556 — A resolution to provide for the printing of the Senate Manual for the One Hundred Eighteenth Congress. By Ms. KLOBUCHAR (for herself and Mrs. Fischer), S599 [9FE] Text, S601 [9FE] Agreed to in the Senate, S803 [9FE] S. Res. 557 — A resolution authorizing the Sergeant at Arms and Doorkeeper of the Senate to conduct quarterly blood donation drives. By Ms. KLOBUCHAR (for herself and Mrs. Fischer), S599 [9FE] Text, S601 [9FE] Agreed to in the Senate, S803 [9FE] S. Res. 558 — A resolution congratulating the University of Missouri Tigers for winning the 2023 Cotton Bowl Classic. By Mr. SCHMITT (for himself and Mr. Hawley), S599 [9FE] Text, S601 [9FE] Agreed to in the Senate, S803 [9FE] S. Res. 559 — A resolution recognizing the actions of the Rapid Support Forces and allied militia in the Darfur region of Sudan against non-Arab ethnic communities as acts of genocide; to the Committee on Foreign Relations. By Mr. RISCH (for himself, Mr. Cardin, Mr. Scott of South Carolina, and Mr. Booker), S954 [12FE] Text, S956 [12FE] Cosponsors added, S2599 [22MR], S2708 [10AP], S3001 [23AP] S. Res. 560 — A resolution designating February 2024 as ‘‘American Heart Month’’. By Mr. DURBIN (for himself and Mr. Crapo), S954 [12FE] Text, S957 [12FE] Agreed to in the Senate, S960 [12FE] S. Res. 561 — A resolution designating February 16, 2024, as ‘‘National Elizabeth Peratrovich Day’’. By Mr. SULLIVAN (for himself and Ms. Murkowski), S954 [12FE] Text, S958 [12FE] Agreed to in the Senate, S960 [12FE] S. Res. 562 — A resolution honoring the life and legacy of George F. McGinnis. By Mr. BRAUN (for himself and Mr. Young), S954 [12FE] Text, S958 [12FE] Agreed to in the Senate, S960 [12FE] S. Res. 563 — A resolution recognizing the 50th anniversary of the Hulman Center. By Mr. BRAUN (for himself and Mr. Young), S954 [12FE] Text, S959 [12FE] Agreed to in the Senate, S960 [12FE] S. Res. 564 — A resolution honoring the memories of the victims of the senseless attack at Marjory Stoneman Douglas High School on February 14, 2018. By Mr. SCOTT of Florida (for himself and Mr. Rubio), S955 [12FE] Text, S959 [12FE] Agreed to in the Senate, S960 [12FE] S. Res. 565 — A resolution condemning democratic backsliding in Hungary; to the Committee on Foreign Relations. By Mrs. SHAHEEN (for herself, Mr. Tillis, Mr. Cardin, and Mr. Durbin), S985 [26FE] Text, S987 [26FE] S. Res. 566 — A resolution designating September 2024 as ‘‘National Cholesterol Education Month’’ and September 30, 2024, as ‘‘LDL–C Awareness Day’’; to the Committee on the Judiciary. By Mrs. HYDE–SMITH (for herself, Mr. Peters, Mr. Padilla, Mr. Boozman, Mr. Daines, Mr. Tillis, Ms. Sinema, and Mr. Budd), S985 [26FE] Text, S988 [26FE] Cosponsors added, S1045 [28FE], S2331 [8MR] Committee discharged. Agreed to in the Senate, S2333 [8MR] S. Res. 567 — A resolution recognizing the seriousness of widespread health care worker burnout in the United States and the need to strengthen health workforce well-being, and expressing support for the designation of March 18, 2024, as the inaugural ‘‘Health Workforce Well-Being Day of Awareness’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. KAINE (for himself, Mr. Marshall, Mr. Reed, Mrs. Capito, Ms. Stabenow, Ms. Collins, Ms. Klobuchar, Ms. Smith, Mr. King, Mr. Warner, Ms. Sinema, and Mr. Kelly), S1044 [28FE] Text, S1046 [28FE] Committee discharged. Agreed to in the Senate, S2478 [20MR] S. Res. 568 — A resolution designating the week of February 26 through March 1, 2024, as ‘‘Public Schools Week’’. By Ms. COLLINS (for herself, Mr. Tester, Mr. Reed, Mr. Casey, Ms. Cantwell, Mrs. Shaheen, Ms. Klobuchar, Mr. Bennet, Mrs. Murray, Mr. Welch, Mr. Sanders, Mr. King, Mr. Cardin, Mr. Van Hollen, Ms. Hassan, Ms. Hirono, Mr. Durbin, Mr. Blumenthal, Mr. Kaine, Mrs. Capito, and Mr. Braun), S1044 [28FE] Text, S1046 [28FE] Agreed to in the Senate, S1047 [28FE] S. Res. 569 — A resolution recognizing religious freedom as a fundamental right, expressing support for international religious freedom as a cornerstone of United States foreign policy, and expressing concern over increased threats to and attacks on religious freedom around the world; to the Committee on Foreign Relations. By Mr. COONS (for himself, Mr. Lankford, Mr. Kaine, and Mr. Tillis), S1077 [29FE] Text, S1087 [29FE] Cosponsors added, S2876 [18AP], S3993 [5JN], S4182 [20JN] S. Res. 570 — A resolution designating March 1, 2024, as ‘‘National Speech and Debate Education Day’’. By Mr. GRASSLEY (for himself, Mr. Coons, Mr. Cramer, Mr. Crapo, Mr. Lankford, Mr. Barrasso, Mr. Daines, Mr. Scott of Florida, Mrs. Hyde-Smith, Mrs. Blackburn, Mr. King, Mr. Carper, Mr. Durbin, Ms. Klobuchar, Mr. Warnock, and Mr. Merkley), S1077 [29FE] Text, S1088 [29FE] Agreed to in the Senate, S1090 [29FE] S. Res. 571 — A resolution honoring the leadership and celebrating the retirement of Edward Walker, the Deputy Assistant Secretary for Aging for the Administration for Community Living, to the Committee on Health, Education, Labor, and Pensions. By Mr. CASEY (for himself, Mr. Kaine, Mr. Markey, and Mr. Sanders), S2213 [5MR] Text, S2215 [5MR] S. Res. 572 — A resolution congratulating Iowa native Caitlin Clark on becoming the National Collegiate Athletic Association Division I basketball leading scorer, to the Committee on Commerce, Science, and Transportation. By Ms. ERNST (for herself and Mr. Grassley), S2213 [5MR] Text, S2215 [5MR] S. Res. 573 — A resolution commemorating the 50th anniversary of the Boldt decision of 1974, to the Committee on Indian Affairs. By Mrs. MURRAY (for herself, Ms. Cantwell, Mr. Wyden, and Mr. Merkley), S2213 [5MR] Text, S2215 [5MR] S. Res. 574 — A resolution expressing support for starting and growing a family through in vitro fertilization; to the Committee on Health, Education, Labor, and Pensions. By Mr. SCOTT of Florida, S2239 [6MR] Text, S2240 [6MR] Cosponsors added, S3857 [22MY], S4021 [11JN], S4056 [12JN] S. Res. 575 — A resolution declaring racism a public health crisis; to the Committee on Health, Education, Labor, and Pensions. By Mr. BROWN (for himself, Mr. Booker, Mr. Padilla, Ms. Hirono, Mr. Cardin, Mr. Warnock, Mr. Blumenthal, Ms. Stabenow, Ms. Butler, and Ms. Baldwin), S2239 [6MR] Text, S2240 [6MR] Cosponsors added, S3001 [23AP] S. Res. 576 — A resolution expressing support for the designation of the week of March 4 through March 8, 2024, as ‘‘National Social and Emotional Learning Week’’ to recognize the critical role social and emotional learning plays in supporting the academic success and overall well-being of students, educators, and families; to the Committee on Health, Education, Labor, and Pensions. By Mr. DURBIN (for himself, Ms. Collins, Ms. Duckworth, Mr. Blumenthal, Mr. King, Mr. Booker, Ms. Butler, Mr. Sanders, and Mr. Van Hollen), S2239 [6MR] Text, S2243 [6MR] S. Res. 577 — A resolution recognizing and honoring Burnsville, Minnesota, law enforcement and first responders for their heroic actions. By Ms. KLOBUCHAR (for herself and Ms. Smith), S2239 [6MR] Text, S2243 [6MR] Agreed to in the Senate, S2246 [6MR] S. Res. 578 — A resolution congratulating the Kansas City Chiefs on their victory in Super Bowl LVIII in the successful 104th season of the National Football League. By Mr. HAWLEY (for himself, Mr. Schmitt, Mr. Moran, and Mr. Marshall), S2239 [6MR] Text, S2243 [6MR] Agreed to in the Senate, S2246 [6MR] S. Res. 579 — A resolution to authorize testimony and representation in United States v. Kenyon. By Mr. SCHUMER (for himself and Mr. McConnell), S2239 [6MR] Text, S2244 [6MR] Agreed to in the Senate, S2246 [6MR] S. Res. 580 — A resolution expressing opposition to congressional spending on earmarks; to the Committee on Appropriations. By Mr. SCOTT of Florida (for himself, Mr. Barrasso, Mr. Braun, Mrs. Blackburn, Mr. Johnson, Mr. Lee, Mr. Hawley, Mr. Paul, and Mr. Daines), S2279 [7MR] Text, S2281 [7MR] S. Res. 581 — A resolution affirming the support of the United States for the Republic of North Macedonia’s accession to the European Union; to the Committee on Foreign Relations. By Mr. WELCH (for himself, Mrs. Shaheen, Mr. Ricketts, and Mr. Tillis), S2279 [7MR] Text, S2282 [7MR] S. Res. 582 — A resolution supporting the goals of International Women’s Day; to the Committee on Foreign Relations. By Mrs. SHAHEEN (for herself and Ms. Collins), S2279 [7MR] Text, S2282 [7MR] S. Res. 583 — A resolution recognizing the 100th anniversary of the National League of Cities and the support it provides to municipalities across the United States; to the Committee on the Judiciary. By Ms. SMITH (for herself, Mr. Tillis, and Mr. Young), S2279 [7MR] Text, S2284 [7MR] Cosponsors added, S2331 [8MR] Committee discharged. Agreed to in the Senate, S2478 [20MR] S. Res. 584 — A resolution designating March 7, 2024, as ‘‘National Slam the Scam Day’’ to raise awareness about pervasive government imposter scams and to promote education to prevent government imposter scams. By Ms. COLLINS (for herself, Mr. Kelly, Ms. Sinema, Mr. Blumenthal, Mr. Scott of Florida, Mr. Rubio, and Mr. Braun), S2330 [8MR] Text, S2332 [8MR] Agreed to in the Senate, S2333 [8MR] S. Res. 585 — A resolution recognizing the 150th anniversary of the Harrison residence, home of Brigadier General and President Benjamin Harrison and First Lady Caroline Harrison. By Mr. BRAUN (for himself and Mr. Young), S2331 [8MR] Text, S2332 [8MR] Agreed to in the Senate, S2333 [8MR] S. Res. 586 — A resolution supporting the goals and ideals of ‘‘Deep Vein Thrombosis and Pulmonary Embolism Awareness Month’’. By Mr. GRASSLEY (for himself and Mr. Luján), S2346 [11MR] Text, S2348 [11MR] Agreed to in the Senate, S2349 [11MR] S. Res. 587 — A resolution designating the third week of March 2024 as ‘‘National CACFP Week’’. By Ms. KLOBUCHAR (for herself and Mr. Boozman), S2365 [12MR] Text, S2366 [12MR] Agreed to in the Senate, S2371 [12MR] S. Res. 588 — A resolution recognizing March 14, 2024, as ‘‘Black Midwives Day’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. BOOKER (for himself and Ms. Butler), S2401 [14MR] Text, S2414 [14MR] S. Res. 589 — A resolution honoring Wadee Alfayoumi, a 6-year-old Palestinian-American boy, murdered as a victim of a hate crime for his Palestinian-Muslim identity, in the State of Illinois; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Ms. Duckworth, Mr. Wyden, Ms. Stabenow, Mrs. Murray, Mr. Kaine, Mr. Welch, Mr. Merkley, Mr. Sanders, and Mr. Menendez), S2401 [14MR] Text, S2415 [14MR] Cosponsors added, S2516 [21MR], S2792 [16AP], S3001 [23AP] S. Res. 590 — A resolution designating March 15, 2024, as ‘‘Long COVID Awareness Day’’; to the Committee on the Judiciary. By Mr. SANDERS (for himself, Mr. Kaine, Mr. Markey, Mr. Hickenlooper, Ms. Smith, Mr. Casey, and Ms. Baldwin), S2401 [14MR] Text, S2416 [14MR] S. Res. 591 — A resolution reaffirming the deep and steadfast partnership between, and the ties that bind, the United States and Canada in support of economic and national security; to the Committee on Foreign Relations. By Mr. CRAMER (for himself, Mr. King, Mr. Cassidy, Mr. Crapo, Mr. Boozman, Ms. Klobuchar, Mr. Cornyn, Mr. Rounds, Mr. Fetterman, and Mr. Ricketts), S2439 [19MR] Text, S2441 [19MR] Cosponsors added, S2470 [20MR], S2517 [21MR] S. Res. 592 — A resolution supporting the goals and ideals of Social Work Month and World Social Work Day on March 19, 2024; to the Committee on Health, Education, Labor, and Pensions. By Ms. STABENOW (for herself and Ms. Sinema), S2439 [19MR] Text, S2442 [19MR] S. Res. 593 — A resolution expressing support for the continued value of arms control agreements and condemning the Russian Federation’s purported suspension of its participation in the New START Treaty; to the Committee on Foreign Relations. By Mr. MARKEY (for himself, Mr. Merkley, Ms. Warren, Mr. Van Hollen, Mr. Wyden, Mr. Whitehouse, and Mr. Sanders), S2439 [19MR] Text, S2443 [19MR] Cosponsors added, S2721 [11AP] S. Res. 594 — A resolution designating April 17, 2024, as ‘‘National Assistive Technology Awareness Day’’; to the Committee on the Judiciary. By Mr. CASEY (for himself and Mr. Cramer), S2439 [19MR] Text, S2444 [19MR] Committee discharged. Agreed to in the Senate, S2866 [18AP] S. Res. 595 — A resolution recognizing the contributions of AmeriCorps members and alumni and AmeriCorps Seniors volunteers in the lives of the people and communities of the United States. By Mr. COONS (for himself, Mr. Cassidy, Mr. Heinrich, and Mrs. Capito), S2439 [19MR] Text, S2444 [19MR] Agreed to in the Senate, S2446 [19MR] Cosponsors added, S2517 [21MR] S. Res. 596 — A resolution recognizing Girl Scouts of the United States of America on its 112th birthday and celebrating its legacy of providing girls with a secure, inclusive space where they can explore their world, build meaningful relationships, and have access to experiences that prepare them for a life of leadership. By Ms. DUCKWORTH (for herself, Mrs. Shaheen, Ms. Collins, Mr. King, Ms. Hassan, Ms. Cortez Masto, Mr. Hagerty, Mr. Coons, Mr. Barrasso, Mrs. Capito, and Ms. Ernst), S2439 [19MR] Text, S2445 [19MR] Agreed to in the Senate, S2446 [19MR] S. Res. 597 — A resolution recognizing the heritage, culture, and contributions of American Indian, Alaska Native, and Native Hawaiian women in the United States. By Ms. MURKOWSKI (for herself, Mr. Schatz, Ms. Baldwin, Mr. Bennet, Mr. Blumenthal, Mr. Booker, Ms. Butler, Ms. Cantwell, Ms. Collins, Ms. Cortez Masto, Mr. Cramer, Mr. Crapo, Mr. Daines, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. Hoeven, Mr. King, Ms. Klobuchar, Mr. Luján, Mr. Markey, Mr. Merkley, Mr. Padilla, Mr. Risch, Ms. Rosen, Mr. Rounds, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Mr. Sullivan, Mr. Tester, Mr. Warner, Ms. Warren, and Mr. Wyden), S2439 [19MR] Text, S2445 [19MR] Agreed to in the Senate, S2446 [19MR] S. Res. 598 — A resolution expressing support for the Senate to work alongside the Congressional Black Caucus to build the Black Wealth Agenda and outline the legislative priorities to achieve the Black Wealth Agenda; to the Committee on the Judiciary. By Ms. BUTLER (for herself, Mr. Booker, and Mr. Warnock), S2469 [20MR] Text, S2472 [20MR] S. Res. 599 — A resolution protecting the Iranian political refugees, including female former political prisoners, in Ashraf-3 in Albania; to the Committee on Foreign Relations. By Mr. TILLIS (for himself, Mr. Cornyn, Mr. Cruz, Mr. Boozman, Mr. Menendez, Mrs. Shaheen, Mr. Coons, and Mr. Booker), S2469 [20MR] Text, S2473 [20MR] Cosponsors added, S2708 [10AP], S2792 [16AP], S2876 [18AP], S3932 [3JN], S4021 [11JN], S4086 [13JN], S4117 [17JN] S. Res. 600 — A resolution recognizing the national debt as a threat to national security. By Mr. BRAUN (for himself, Mr. Scott of Florida, Mrs. Blackburn, Ms. Lummis, Mr. Cramer, and Mr. Budd), S2469 [20MR] Agreed to in the Senate, S2459 [20MR] Text, S2474 [20MR] S. Res. 601 — A resolution honoring the life, bravery, and memory of Sergeant Rose Ida Lubin. By Mr. OSSOFF (for himself and Mr. Warnock), S2469 [20MR] Text, S2474 [20MR] Agreed to in the Senate, S2478 [20MR] S. Res. 602 — A resolution designating March 16, 2024, as ‘‘National Osceola Turkey Day’’. By Mr. SCOTT of Florida (for himself and Mr. Rubio), S2469 [20MR] Text, S2475 [20MR] Agreed to in the Senate, S2478 [20MR] S. Res. 603 — A resolution designating April 2024 as ‘‘National Native Plant Month’’. By Mr. BRAUN (for himself and Ms. Hirono), S2469 [20MR] Text, S2475 [20MR] Agreed to in the Senate, S2478 [20MR] S. Res. 604 — A resolution designating March 21, 2024, as ‘‘National Women in Agriculture Day’’. By Ms. ERNST (for herself, Ms. Smith, Ms. Cantwell, Mr. Daines, Mr. Tuberville, Mr. Fetterman, Mr. Warnock, Mr. Durbin, Mr. Heinrich, Mr. Braun, Mr. Cornyn, Mrs. Britt, Ms. Cortez Masto, Mr. Rounds, Ms. Sinema, Ms. Duckworth, Mr. Grassley, Mr. Risch, Mr. Hickenlooper, Mr. Cramer, Ms. Baldwin, Mrs. Shaheen, Mr. Padilla, Mr. Rubio, Ms. Stabenow, Mr. Coons, Mr. Booker, Mr. Tillis, Ms. Lummis, Mr. Luján, Mr. Ricketts, Mrs. Blackburn, Mr. Barrasso, Ms. Hirono, Mr. Crapo, Ms. Collins, Mr. King, Mr. Tester, Ms. Warren, Mr. Manchin, Ms. Murkowski, Mrs. Capito, Mrs. Murray, Mr. Moran, Mr. Bennet, Mr. Scott of Florida, Mr. Welch, Mrs. Hyde-Smith, Ms. Butler, Mr. Thune, Mrs. Fischer, Mr. Boozman, Mr. Hagerty, Mr. Wicker, Mr. Mullin, Ms. Klobuchar, Mrs. Gillibrand, Mr. Hoeven, Mr. Wyden, Mr. Kennedy, Mr. Scott of South Carolina, Ms. Hassan, Ms. Rosen, Mr. Ossoff, and Mr. Van Hollen), S2469 [20MR] Text, S2475 [20MR] Agreed to in the Senate, S2478 [20MR] S. Res. 605 — A resolution recognizing the 75th anniversary of the National Institute of Dental and Craniofacial Research and its critical role in improving the dental, oral, and craniofacial health of the United States through research, training, and the dissemination of health information. By Mr. CARDIN (for himself and Mr. Braun), S2469 [20MR] Text, S2475 [20MR] Agreed to in the Senate, S2478 [20MR] S. Res. 606 — A resolution to recognize the 203rd anniversary of the independence of Greece and celebrating democracy in Greece and the United States; to the Committee on Foreign Relations. By Mr. MENENDEZ (for himself, Mr. Kaine, Ms. Stabenow, Ms. Duckworth, Mr. Whitehouse, Mr. Schumer, Ms. Cortez Masto, Mr. Rubio, Mr. Reed, Mr. Bennet, Mr. Durbin, Mr. Ricketts, Mr. Van Hollen, Mr. Cardin, Mr. Rounds, Ms. Rosen, Mrs. Shaheen, Mr. Booker, Mr. Wyden, and Mr. Markey), S2515 [21MR] Text, S2517 [21MR] S. Res. 607 — A resolution condemning the Nicaraguan Government’s unjust imprisonment of individuals affiliated with Mountain Gateway Order, Inc; to the Committee on Foreign Relations. By Mr. SCOTT of Florida (for himself, Mr. Tuberville, Mr. Cruz, Mrs. Britt, and Mr. Cramer), S2515 [21MR] Text, S2517 [21MR] S. Res. 608 — A resolution denouncing the Biden Administration’s immigration policies; to the Committee on the Judiciary. By Mr. SCOTT of Florida (for himself, Mr. Budd, Mr. Cramer, Mrs. Capito, Mr. Hoeven, Mrs. Blackburn, Mr. Cruz, Mr. Rubio, Mr. Hawley, Mr. Cotton, Mr. Scott of South Carolina, Mr. Marshall, Mr. Johnson, Mr. Braun, and Mrs. Hyde-Smith), S2515 [21MR] Text, S2518 [21MR] S. Res. 609 — A resolution recognizing April 4, 2024, as the International Day for Mine Awareness and Assistance in Mine Action, and reaffirming the leadership of the United States in eliminating landmines and unexploded ordnance; to the Committee on Foreign Relations. By Ms. BALDWIN (for herself, Mr. Moran, and Mr. Welch), S2515 [21MR] Text, S2519 [21MR] S. Res. 610 — A resolution honoring Dr. Jane Goodall and her legacy as an ethologist, conservationist, and activist; to the Committee on the Judiciary. By Mr. COONS (for himself, Mr. Tillis, and Mrs. Murray), S2515 [21MR] Text, S2519 [21MR] Cosponsors added, S2721 [11AP] S. Res. 611 — A resolution expressing support for the designation of March 22, 2024, as ‘‘National Inland Waterways Workers Safety Awareness Day’’ and supporting the goals and ideals of ‘‘National Inland Waterways Workers Safety Awareness Day’’. By Mr. MANCHIN (for himself and Mrs. Capito), S2515 [21MR] Agreed to in the Senate, S2552 [21MR] S. Res. 612 — A resolution recognizing the importance of maple syrup production to the State of Maine and designating March 24, 2024, as ‘‘Maine Maple Sunday’’. By Mr. KING (for himself and Ms. Collins), S2515 [21MR] Text, S2520 [21MR] Agreed to in the Senate, S2552 [21MR] S. Res. 613 — A resolution supporting the designation of the week of April 15 through April 19, 2024, as ‘‘National Work Zone Awareness Week’’. By Mr. BRAUN (for himself and Mr. Blumenthal), S2515 [21MR] Text, S2520 [21MR] Agreed to in the Senate, S2552 [21MR] S. Res. 614 — A resolution to authorize testimony, documents, and representation in United States v. Miller. By Mr. SCHUMER (for himself and Mr. McConnell), S2515 [21MR] Text, S2520 [21MR] Agreed to in the Senate, S2552 [21MR] S. Res. 615 — A resolution designating April 5, 2024, as ‘‘Gold Star Wives Day’’. By Mr. MANCHIN (for himself, Mr. Budd, and Mr. Boozman), S2515 [21MR] Text, S2521 [21MR] Agreed to in the Senate, S2552 [21MR] S. Res. 616 — A resolution condemning the treatment of Dr. Gubad Ibadoghlu by the Government of Azerbaijan and urging his immediate release, and for other purposes; to the Committee on Foreign Relations. By Mr. TILLIS (for himself, Mr. Durbin, Mr. Cassidy, Mr. Kaine, and Mr. Fetterman), S2597 [22MR] Text, S2600 [22MR] Cosponsors added, S2646 [8AP], S2792 [16AP] S. Res. 617 — A resolution expressing the sense of the Senate that Israel has the inherent right to defend itself and take necessary steps to eradicate the terrorist threat posed by Hamas; to the Committee on Foreign Relations. By Mr. SCOTT of South Carolina (for himself, Mr. Cotton, Mr. Cornyn, Mr. Cruz, Mr. Rubio, Mr. Ricketts, Mr. Tillis, Mr. Scott of Florida, Mr. Crapo, Ms. Ernst, Mr. Cramer, Mrs. Blackburn, Mr. Grassley, Mr. Hagerty, Mr. Thune, Mr. Moran, Mr. Budd, Mr. Daines, Mr. Barrasso, Mr. Lankford, Mrs. Capito, Mr. Mullin, Mr. Graham, Mr. Hoeven, Mrs. Fischer, Mr. Hawley, and Mrs. Britt), S2597 [22MR] Text, S2601 [22MR] S. Res. 618 — A resolution supporting the goals and ideals of ‘‘Countering International Parental Child Abduction Month’’ and expressing the sense of the Senate that Congress should raise awareness of the harm caused by international parental child abduction; to the Committee on Foreign Relations. By Mr. TILLIS (for himself and Mr. Murphy), S2597 [22MR] Text, S2601 [22MR] S. Res. 619 — A resolution honoring the 65th anniversary of the uprising of the people of Tibet in defense of freedom; to the Committee on Foreign Relations. By Mr. CRUZ, S2597 [22MR] Text, S2602 [22MR] S. Res. 620 — A resolution demanding that the international community hold accountable those who perpetrated acts of sexual violence and sexual torture during and after the attack on the State of Israel on October 7, 2023; to the Committee on Foreign Relations. By Mr. GRAHAM (for himself, Mrs. Gillibrand, Mrs. Britt, Ms. Collins, Mr. Blumenthal, and Ms. Ernst), S2597 [22MR] Text, S2602 [22MR] Cosponsors added, S2669 [9AP] S. Res. 621 — A resolution designating March 24th, 2024, as ‘‘National Women of Color in Tech Day’’; to the Committee on the Judiciary. By Ms. ROSEN (for herself, Ms. Hirono, Ms. Duckworth, Ms. Cortez Masto, Mr. Padilla, Ms. Klobuchar, Mr. Warner, Ms. Butler, Mr. Welch, Mr. Heinrich, Mr. Wyden, Mr. Blumenthal, Mr. Booker, Mr. Fetterman, and Mr. Luján), S2597 [22MR] Text, S2603 [22MR] S. Res. 622 — A resolution providing for the issuance of a summons, providing for the appointment of a committee to receive and to report evidence, and establishing related procedures concerning the articles of impeachment against Alejandro Nicholas Mayorkas; to the Committee on Rules and Administration. By Mr. CRUZ (for himself, Mr. Lee, Mr. Schmitt, Mr. Kennedy, Mrs. Blackburn, and Mr. Hagerty), S2597 [22MR] Text, S2603 [22MR] Cosponsors added, S2669 [9AP] Objection is heard to request for consideration, S2698 [10AP] S. Res. 623 — A resolution to provide for related procedures concerning the articles of impeachment against Alejandro Nicholas Mayorkas, Secretary of Homeland Security; to the Committee on Rules and Administration. By Mr. KENNEDY (for himself, Mr. Lee, Mr. Cruz, Mr. Schmitt, Mrs. Blackburn, and Mr. Hagerty), S2597 [22MR] Text, S2604 [22MR] Cosponsors added, S2669 [9AP] Objection is heard to request for consideration, S2695 [10AP] S. Res. 624 — A resolution to provide for related procedures concerning the articles of impeachment against Alejandro Nicholas Mayorkas, Secretary of Homeland Security; to the Committee on Rules and Administration. By Mr. LEE (for himself, Mr. Kennedy, Mr. Schmitt, Mrs. Blackburn, Mr. Cruz, and Mr. Hagerty), S2597 [22MR] Text, S2605 [22MR] Objection is heard to request for consideration, S2697 [10AP] S. Res. 625 — A resolution recognizing the week of March 17 through March 23, 2024, as ‘‘National Poison Prevention Week’’ and encouraging communities across the United States to raise awareness of the dangers of poisoning and promote poison prevention. By Mr. BROWN (for himself, Mr. Scott of South Carolina, and Mr. Blumenthal), S2598 [22MR] Text, S2606 [22MR] Agreed to in the Senate, S2618 [22MR] S. Res. 626 — A resolution recognizing the importance of the United States-Japan alliance and welcoming the visit of Prime Minister Kishida Fumio to the United States; to the Committee on Foreign Relations. By Mr. CARDIN (for himself, Mr. Risch, Mr. Hagerty, Ms. Hirono, Mr. Van Hollen, and Mr. Romney), S2645 [8AP] Text, S2647 [8AP] S. Res. 627 — A resolution honoring the memory of Jereima ‘‘Jeri’’ Bustamante on the sixth anniversary of her passing; to the Committee on the Judiciary. By Mr. SCOTT of Florida (for himself and Mr. Rubio), S2645 [8AP] Text, S2648 [8AP] S. Res. 628 — A resolution supporting the goals and ideals of the Rise Up for LGBTQI+ Youth in Schools Initiative, a call to action to communities across the country to demand equal educational opportunity, basic civil rights protections, and freedom from erasure for all students, particularly LGBTIQI+ young people, in K–12 schools; to the Committee on Health, Education, Labor, and Pensions. By Mr. SCHATZ, S2645 [8AP] Text, S2648 [8AP] Cosponsors added, S2742 [15AP], S2876 [18AP] S. Res. 629 — A resolution condemning the arbitrary arrest of United States citizens by the Government of the Russian Federation and calling for the immediate and unconditional release of such citizens; to the Committee on Foreign Relations. By Mr. DURBIN (for himself, Mr. Kaine, Mr. Fetterman, Mr. Van Hollen, Mr. Blumenthal, Mr. Casey, Mr. Coons, Mr. Whitehouse, Mr. King, Mrs. Murray, Ms. Cortez Masto, Ms. Stabenow, Ms. Klobuchar, Mr. Bennet, Mrs. Shaheen, Mr. Merkley, Mr. Booker, Mr. Welch, Mr. Sanders, Mr. Wyden, and Ms. Warren), S2645 [8AP] Text, S2649 [8AP] Cosponsors added, S2721 [11AP], S2933 [19AP] S. Res. 630 — A resolution supporting the North Atlantic Treaty Organization and recognizing its 75 years of accomplishments; to the Committee on Foreign Relations. By Mr. RISCH (for himself, Mr. Cardin, Mrs. Shaheen, and Mr. Ricketts), S2666 [9AP] Text, S2672 [9AP] Cosponsors added, S3886 [23MY], S4086 [13JN] S. Res. 631 — A resolution supporting the designation of April 2024 as the ‘‘Month of the Military Child’’; to the Committee on Armed Services. By Mrs. MURRAY (for herself, Mr. Boozman, Mr. Bennet, and Mr. Cornyn), S2706 [10AP] Text, S2710 [10AP] S. Res. 632 — A resolution supporting the goals and ideals of National Public Health Week; to the Committee on Health, Education, Labor, and Pensions. By Mr. LUJÁN, S2707 [10AP] Text, S2710 [10AP] S. Res. 633 — A resolution reaffirming the United States’ commitment to Taiwan and recognizing the 45th anniversary of the enactment of the Taiwan Relations Act; to the Committee on Foreign Relations. By Mr. RUBIO (for himself and Mr. Merkley), S2707 [10AP] Text, S2711 [10AP] S. Res. 634 — A resolution recognizing the cultural and educational contributions of the Youth America Grand Prix throughout its 25 years of service as the national youth dance competition of the United States. By Mr. SCHUMER (for himself and Mrs. Blackburn), S2707 [10AP] Agreed to in the Senate, S2703 [10AP] Text, S2712 [10AP] S. Res. 635 — A resolution designating the first week of April 2024 as ‘‘National Asbestos Awareness Week’’. By Mr. TESTER (for himself, Mr. Daines, Mr. Merkley, Mr. Durbin, Mr. Booker, Mr. Padilla, and Mr. Markey), S2707 [10AP] Agreed to in the Senate, S2703 [10AP] Text, S2712 [10AP] S. Res. 636 — A resolution designating February 29, 2024, as ‘‘Rare Disease Day’’. By Mr. BROWN (for himself, Mr. Barrasso, Mr. Wicker, Mr. Blumenthal, Mr. Casey, Mr. Booker, Mr. Whitehouse, Ms. Klobuchar, Mr. Scott of South Carolina, Mr. Marshall, Mr. Braun, and Mr. Scott of Florida), S2707 [10AP] Agreed to in the Senate, S2703 [10AP] Text, S2712 [10AP] S. Res. 637 — A resolution expressing support for the staff of public, school, academic, and special libraries in the United States and the essential services those libraries provide to communities, recognizing the need for funding commensurate with the broad scope of social service and community supports provided by libraries, preserving the right of all citizens of the United States to freely access information and resources in their communities, supporting a strong union voice for library workers, and defending the civil rights of library staff; to the Committee on Health, Education, Labor, and Pensions. By Ms. HIRONO (for herself, Mr. Reed, Ms. Butler, Mr. Wyden, Mr. Van Hollen, Mr. King, and Mr. Padilla), S2719 [11AP] Text, S2721 [11AP] S. Res. 638 — A resolution calling for the immediate release of Ryan Corbett, a United States citizen who was wrongfully detained by the Taliban on August 10, 2022, and condemning the wrongful detention of Americans by the Taliban. By Mr. SCHUMER (for himself and Mr. McConnell), S2719 [11AP] Agreed to in the Senate, S2716 [11AP] Text, S2721 [11AP] Cosponsors added, S2742 [15AP], S2876 [18AP], S3001 [23AP], S3318 [2MY], S3816 [21MY], S4021 [11JN], S4182 [20JN] S. Res. 639 — A resolution expressing support for the designation of the month of April 2024 as ‘‘Parkinson’s Awareness Month’’; to the Committee on Health, Education, Labor, and Pensions. By Ms. STABENOW (for herself and Mr. Scott of Florida), S2719 [11AP] Text, S2722 [11AP] S. Res. 640 — A resolution commemorating and supporting the goals of ‘‘World Quantum Day’’. By Mr. YOUNG (for himself, Ms. Hassan, Mrs. Blackburn, and Ms. Cantwell), S2740 [15AP] Text, S2751 [15AP] Agreed to in the Senate, S2756 [15AP] S. Res. 641 — A resolution designating the week of April 7 through April 13, 2024, as ‘‘National Water Week’’. By Mr. SULLIVAN (for himself, Mr. Padilla, Ms. Lummis, Mr. Cramer, Mr. Warnock, Mr. Ricketts, Mr. Carper, and Mr. Whitehouse), S2740 [15AP] Text, S2751 [15AP] Agreed to in the Senate, S2756 [15AP] S. Res. 642 — A resolution urging all members of the North Atlantic Treaty Organization to oppose confirmation of a new Secretary General, if the candidate was a former leader of a member country which did not spend 2 percent of gross domestic product (GDP) on defense; to the Committee on Foreign Relations. By Mr. KENNEDY (for himself, Mr. Cassidy, Mr. Braun, and Mr. Mullin), S2790 [16AP] Text, S2792 [16AP] Cosponsors added, S2933 [19AP] S. Res. 643 — A resolution recognizing the Interstate Compact on Educational Opportunity for Military Children and expressing support for the designation of April 2024 as the ‘‘Month of the Military Child’’; to the Committee on Armed Services. By Ms. HIRONO (for herself, Mr. Blumenthal, Ms. Klobuchar, Mr. Hickenlooper, and Mr. Durbin), S2790 [16AP] Text, S2792 [16AP] S. Res. 644 — A resolution expressing support for the designation of April 1, 2024, through April 30, 2024, as ‘‘Fair Chance Jobs Month’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARKEY (for himself, Ms. Klobuchar, Ms. Butler, Ms. Duckworth, Mr. Durbin, Mr. Merkley, Mr. Padilla, Ms. Warren, and Mr. Welch), S2790 [16AP] Text, S2793 [16AP] Cosponsors added, S2933 [19AP] S. Res. 645 — A resolution designating the week of April 20 through April 28, 2024, as ‘‘National Park Week’’. By Mr. KING (for himself, Mr. Daines, Mr. Padilla, Mr. Rubio, Mr. Coons, Mr. Cassidy, Mr. Tester, Mr. Graham, Ms. Duckworth, Mr. Budd, Mr. Bennet, Ms. Lummis, Mr. Blumenthal, Mr. Cramer, Ms. Hassan, Ms. Collins, Ms. Stabenow, Mrs. Blackburn, Mr. Hickenlooper, Mr. Braun, Ms. Cantwell, Mrs. Hyde-Smith, Mr. Merkley, Mr. Scott of South Carolina, Ms. Baldwin, Mr. Barrasso, Ms. Cortez Masto, Mr. Tillis, Mr. Whitehouse, Mr. Young, Mr. Peters, Mr. Rounds, Mr. Manchin, Mr. Hoeven, Ms. Butler, Mr. Cotton, Ms. Smith, Mrs. Capito, Mr. Welch, Mr. Wicker, Ms. Hirono, Mr. Romney, Mr. Warner, Mr. Marshall, Ms. Rosen, Mr. Kennedy, Ms. Sinema, Mr. Cruz, Mrs. Murray, Mr. Scott of Florida, Mr. Heinrich, Mr. Van Hollen, Mrs. Shaheen, Mr. Reed, Mr. Luján, Mr. Cardin, Mr. Booker, Mr. Wyden, Ms. Klobuchar, Mr. Durbin, Mr. Carper, Mr. Kaine, Ms. Warren, and Mr. Murphy), S2790 [16AP] Agreed to in the Senate, S2781 [16AP] Text, S2793 [16AP] S. Res. 646 — A resolution honoring the life and legacy of Lieutenant General Thomas P. Stafford. By Mr. LANKFORD (for himself and Mr. Mullin), S2790 [16AP] Agreed to in the Senate, S2781 [16AP] Text, S2794 [16AP] S. Res. 647 — A resolution recognizing the designation of the week of April 11 through April 17, 2024, as the seventh annual ‘‘Black Maternal Health Week’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. BOOKER (for himself, Ms. Butler, Mr. Padilla, Ms. Stabenow, Ms. Baldwin, Ms. Warren, Ms. Duckworth, Mr. Warnock, Mr. Merkley, Mrs. Murray, Mr. Menendez, Mr. Van Hollen, Mr. Durbin, Mr. Sanders, Ms. Smith, Mr. Welch, Ms. Cortez Masto, Mr. Markey, Mr. Brown, Ms. Klobuchar, and Mr. Whitehouse), S2828 [17AP] Text, S2829 [17AP] S. Res. 648 — A resolution proclaiming a Declaration of Environmental Rights for Incarcerated People; to the Committee on the Judiciary. By Mr. MARKEY, S2873 [18AP] Text, S2887 [18AP] S. Res. 649 — A resolution raising awareness of lake sturgeon (Acipenser fulvescens); to the Committee on Environment and Public Works. By Mr. WELCH, S2873 [18AP] Text, S2888 [18AP] Cosponsors added, S3137 [1MY] S. Res. 650 — A resolution recognizing the anniversary of the establishment of the United States Naval Construction Force, known as the ‘‘Seabees’’, and the tremendous sacrifices and contributions by the Seabees who have fought and served on behalf of our country; to the Committee on Armed Services. By Mr. WHITEHOUSE (for himself, Mr. Wicker, Mr. Reed, and Mrs. Hyde-Smith), S2873 [18AP] Text, S2888 [18AP] S. Res. 651 — A resolution designating April 2024 as ‘‘Preserving and Protecting Local News Month’’ and recognizing the importance and significance of local news; to the Committee on the Judiciary. By Mr. SCHATZ (for himself, Mr. Fetterman, Mr. Blumenthal, Ms. Cantwell, Mr. Padilla, Mr. Welch, Ms. Klobuchar, Mr. Wyden, Mr. Durbin, Mr. Warner, Mr. Kelly, Mr. King, and Ms. Butler), S2873 [18AP] Text, S2888 [18AP] Cosponsors added, S2933 [19AP], S3504 [7MY] S. Res. 652 — A resolution designating April 2024 as ‘‘Second Chance Month’’; to the Committee on the Judiciary. By Ms. KLOBUCHAR (for herself and Mr. Cramer), S2873 [18AP] Text, S2889 [18AP] Cosponsors added, S3080 [30AP] Committee discharged. Agreed to in the Senate, S3368 [2MY] S. Res. 653 — A resolution recognizing the 54th anniversary of Earth Day and the leadership of its founder, Senator Gaylord Nelson; to the Committee on Environment and Public Works. By Ms. BALDWIN (for herself, Mr. Blumenthal, Mr. King, Ms. Duckworth, and Ms. Butler), S2873 [18AP] Text, S2890 [18AP] S. Res. 654 — A resolution expressing concern about the elevated levels of lead in one-third of the world’s children and the global causes of lead exposure, and calling for the inclusion of lead exposure prevention in global health, education, and environment programs abroad; to the Committee on Foreign Relations. By Mr. CARDIN (for himself, Ms. Duckworth, Mr. Merkley, Mr. Booker, and Mr. Van Hollen), S2873 [18AP] Text, S2890 [18AP] S. Res. 655 — A resolution honoring the life of Joseph Isadore Lieberman, former Senator for the State of Connecticut. By Mr. BLUMENTHAL (for himself, Mr. Murphy, Mr. Schumer, Mr. McConnell, Ms. Baldwin, Mr. Barrasso, Mr. Bennet, Mrs. Blackburn, Mr. Booker, Mr. Boozman, Mr. Braun, Mrs. Britt, Mr. Brown, Mr. Budd, Ms. Butler, Ms. Cantwell, Mrs. Capito, Mr. Cardin, Mr. Carper, Mr. Casey, Mr. Cassidy, Ms. Collins, Mr. Coons, Mr. Cornyn, Ms. Cortez Masto, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Cruz, Mr. Daines, Ms. Duckworth, Mr. Durbin, Ms. Ernst, Mr. Fetterman, Mrs. Fischer, Mrs. Gillibrand, Mr. Graham, Mr. Grassley, Mr. Hagerty, Ms. Hassan, Mr. Hawley, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Johnson, Mr. Kaine, Mr. Kelly, Mr. Kennedy, Mr. King, Ms. Klobuchar, Mr. Lankford, Mr. Lee, Mr. Luján, Ms. Lummis, Mr. Manchin, Mr. Markey, Mr. Marshall, Mr. Menendez, Mr. Merkley, Mr. Moran, Mr. Mullin, Ms. Murkowski, Mrs. Murray, Mr. Ossoff, Mr. Padilla, Mr. Paul, Mr. Peters, Mr. Reed, Mr. Ricketts, Mr. Risch, Mr. Romney, Ms. Rosen, Mr. Rounds, Mr. Rubio, Mr. Sanders, Mr. Schatz, Mr. Schmitt, Mr. Scott of Florida, Mr. Scott of South Carolina, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Sullivan, Mr. Tester, Mr. Thune, Mr. Tillis, Mr. Tuberville, Mr. Van Hollen, Mr. Vance, Mr. Warner, Mr. Warnock, Ms. Warren, Mr. Welch, Mr. Whitehouse, Mr. Wicker, Mr. Wyden, and Mr. Young), S2874 [18AP] Text, S2891 [18AP] Message from the Senate (received April 19, 2024), H2561 [20AP] Held at the desk, H2561 [20AP] S. Res. 656 — A resolution supporting the goals and ideals of National Safe Digging Month; to the Committee on Commerce, Science, and Transportation. By Mr. PETERS (for himself and Ms. Cantwell), S2874 [18AP] Text, S2892 [18AP] Cosponsors added, S2933 [19AP] S. Res. 657 — A resolution celebrating the 152nd anniversary of Arbor Day. By Mr. KING (for himself, Mr. Risch, Ms. Baldwin, Ms. Collins, Mrs. Shaheen, Mr. Crapo, Mr. Peters, Mr. Braun, Mr. Manchin, Mr. Wicker, Ms. Smith, and Mr. Brown), S2932 [19AP] Agreed to in the Senate, S2929 [19AP] Text, S2934 [19AP] S. Res. 658 — A resolution designating April 2024 as ‘‘Financial Literacy Month’’. By Mr. REED (for himself, Mr. Scott of South Carolina, Mr. Barrasso, Mr. Boozman, Mr. Braun, Mr. Budd, Mrs. Capito, Mr. Cassidy, Ms. Collins, Ms. Cortez Masto, Mr. Cramer, Mr. Crapo, Mr. Daines, Mr. Durbin, Ms. Hassan, Mrs. Hyde-Smith, Mr. King, Mr. Manchin, Mr. Risch, Mr. Romney, Mr. Rounds, Mr. Rubio, Mr. Scott of Florida, Mr. Whitehouse, Mr. Wicker, Mr. Wyden, Mr. Young, Mr. Peters, and Mr. Tuberville), S2932 [19AP] Agreed to in the Senate, S2929 [19AP] Text, S2934 [19AP] S. Res. 659 — A resolution commending the University of South Carolina Gamecocks women’s basketball team for winning the 2024 National Collegiate Athletics Association Women’s Basketball National Championship. By Mr. GRAHAM (for himself and Mr. Scott of South Carolina), S2932 [19AP] Agreed to in the Senate, S2929 [19AP] Text, S2934 [19AP] S. Res. 660 — A resolution supporting the goals and ideals of National Public Safety Telecommunicators Week; to the Committee on Commerce, Science, and Transportation. By Ms. KLOBUCHAR (for herself and Mr. Budd), S2932 [19AP] Text, S2935 [19AP] S. Res. 661 — A resolution designating the week of April 15 through April 21, 2024, as ‘‘National Osteopathic Medicine Week’’. By Mr. MANCHIN (for himself, Mr. Wicker, Mr. Heinrich, Mrs. Capito, and Mr. Risch), S2999 [23AP] Agreed to in the Senate, S2994 [23AP] Text, S3001 [23AP] S. Res. 662 — A resolution to authorize testimony, document production, and representation in United States of America v. Robert Menendez, et al. By Mr. SCHUMER (for himself and Mr. McConnell), S2999 [23AP] Agreed to in the Senate, S2994 [23AP] Text, S3001 [23AP] S. Res. 663 — A resolution commemorating the 25th anniversary of the Columbine High School shooting. By Mr. BENNET (for himself and Mr. Hickenlooper), S2999 [23AP] Agreed to in the Senate, S2994 [23AP] Text, S3001 [23AP] S. Res. 664 — A resolution recognizing the designation of April as ‘‘Community College Month’’ to celebrate more than 1,000 institutions throughout the United States supporting access to higher education and workforce training, and more broadly sustaining and advancing the economic prosperity of the United States. By Mr. MARKEY (for himself, Ms. Collins, Mr. Durbin, Mr. Risch, Mr. Blumenthal, Mrs. Hyde-Smith, Mr. King, Mr. Crapo, Ms. Butler, Ms. Hassan, Mr. Welch, Ms. Hirono, Ms. Klobuchar, Mr. Van Hollen, Mr. Brown, Mr. Wyden, Mr. Sanders, and Mrs. Capito), S3078 [30AP] Text, S3081 [30AP] Agreed to in the Senate, S3084 [30AP] S. Res. 665 — A resolution supporting May 3, 2024, as ‘‘National Space Day’’ in recognition of the significant positive impact the aerospace community has and will continue to have on the United States of America. By Mr. MORAN (for himself and Mrs. Shaheen), S3078 [30AP] Text, S3082 [30AP] Agreed to in the Senate, S3085 [30AP] S. Res. 666 — A resolution congratulating the Gay, Lesbian, and Allies Senate Staff Caucus association on the 20-year anniversary of the association; to the Committee on Rules and Administration. By Ms. BALDWIN (for herself, Mr. Bennet, Ms. Butler, Ms. Hirono, Mr. Coons, Ms. Stabenow, Mr. Wyden, Mr. Cardin, Mrs. Murray, Mr. Reed, Ms. Hassan, Mr. Markey, Mr. Sanders, Mr. Fetterman, Mr. Padilla, Ms. Cortez Masto, Mr. Kaine, Mrs. Gillibrand, Ms. Rosen, and Mr. Merkley), S3135 [1MY] Text, S3138 [1MY] Cosponsors added, S3318 [2MY] S. Res. 667 — A resolution expressing support for the designation of May as ‘‘Fallen Heroes Memorial Month’’; to the Committee on Veterans’ Affairs. By Mr. TUBERVILLE, S3135 [1MY] Text, S3138 [1MY] S. Res. 668 — A resolution honoring the life of Daniel Robert ‘‘Bob’’ Graham, former Senator for the State of Florida. By Mr. SCOTT of Florida (for himself, Mr. Rubio, Mr. Schumer, Mr. McConnell, Ms. Baldwin, Mr. Barrasso, Mr. Bennet, Mrs. Blackburn, Mr. Blumenthal, Mr. Booker, Mr. Boozman, Mr. Braun, Mrs. Britt, Mr. Brown, Mr. Budd, Ms. Butler, Ms. Cantwell, Mrs. Capito, Mr. Cardin, Mr. Carper, Mr. Casey, Mr. Cassidy, Ms. Collins, Mr. Coons, Mr. Cornyn, Ms. Cortez Masto, Mr. Cotton, Mr. Cramer, Mr. Crapo, Mr. Cruz, Mr. Daines, Ms. Duckworth, Mr. Durbin, Ms. Ernst, Mr. Fetterman, Mrs. Fischer, Mrs. Gillibrand, Mr. Graham, Mr. Grassley, Mr. Hagerty, Ms. Hassan, Mr. Hawley, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Johnson, Mr. Kaine, Mr. Kelly, Mr. Kennedy, Mr. King, Ms. Klobuchar, Mr. Lankford, Mr. Lee, Mr. Luján, Ms. Lummis, Mr. Manchin, Mr. Markey, Mr. Marshall, Mr. Menendez, Mr. Merkley, Mr. Moran, Mr. Mullin, Ms. Murkowski, Mr. Murphy, Mrs. Murray, Mr. Ossoff, Mr. Padilla, Mr. Paul, Mr. Peters, Mr. Reed, Mr. Ricketts, Mr. Risch, Mr. Romney, Ms. Rosen, Mr. Rounds, Mr. Sanders, Mr. Schatz, Mr. Schmitt, Mr. Scott of South Carolina, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Sullivan, Mr. Tester, Mr. Thune, Mr. Tillis, Mr. Tuberville, Mr. Van Hollen, Mr. Vance, Mr. Warner, Mr. Warnock, Ms. Warren, Mr. Welch, Mr. Whitehouse, Mr. Wicker, Mr. Wyden, and Mr. Young), S3135 [1MY] Text, S3139 [1MY] Agreed to in the Senate, S3293 [1MY] Message from the Senate (received May 3, 2024), H2840 [6MY] S. Res. 669 — A resolution designating October, 10, 2024, as ‘‘American Girls in Sports Day’’; to the Committee on Commerce, Science, and Transportation. By Mrs. BLACKBURN (for herself, Mrs. Hyde-Smith, Mr. Risch, Mr. Grassley, Mr. Crapo, Mr. Cotton, Mr. Cassidy, Mrs. Britt, Mr. Cramer, Mr. Marshall, Ms. Lummis, Mr. Cornyn, Mr. Daines, Mr. Rubio, Mr. Hagerty, Mr. Braun, Mr. Graham, Mr. Tuberville, Mrs. Fischer, Mr. Tillis, Mr. Ricketts, Mr. Lee, Mr. Cruz, and Mr. Lankford), S3317 [2MY] Text, S3319 [2MY] Cosponsors added, S3504 [7MY], S4021 [11JN] S. Res. 670 — A resolution strongly condemning the rise of antisemitism on campuses of institutions of higher education across the United States; to the Committee on Health, Education, Labor, and Pensions. By Mr. SCOTT of South Carolina (for himself, Mr. Barrasso, Mrs. Blackburn, Mr. Boozman, Mrs. Britt, Mrs. Capito, Mr. Cotton, Mr. Crapo, Mr. Daines, Ms. Ernst, Mr. Hawley, Mr. Hoeven, Ms. Lummis, Mr. Mullin, Mr. Risch, Mr. Rubio, Mr. Scott of Florida, Mr. Tillis, Mrs. Hyde-Smith, Mr. McConnell, and Mrs. Fischer), S3317 [2MY] Text, S3320 [2MY] Objection is heard to request for consideration, S3496 [7MY] Cosponsors added, S3504 [7MY], S3713 [15MY] S. Res. 671 — A resolution expressing support for the designation of the week of April 28, 2024, through May 4, 2024, as ‘‘National Small Business Week’’ to celebrate the contributions of small businesses and entrepreneurs in every community in the United States. By Mrs. SHAHEEN (for herself, Ms. Ernst, Mr. King, Mr. Grassley, Ms. Hirono, Mr. Daines, Ms. Cantwell, Mr. Lankford, Mr. Markey, Ms. Collins, Mr. Durbin, Mr. Crapo, Ms. Cortez Masto, Mr. Risch, Mr. Brown, Mr. Braun, Ms. Rosen, Mr. Cassidy, Mr. Carper, Mr. Hoeven, Ms. Warren, Mr. Boozman, Mr. Whitehouse, Mrs. Capito, Mr. Booker, Mrs. Blackburn, Mr. Cardin, Mr. Rubio, Ms. Duckworth, Mr. Marshall, Mr. Wyden, Ms. Lummis, Mr. Coons, Mr. Kennedy, Mr. Blumenthal, Mr. Sullivan, Mr. Luján, Mr. Rounds, Mr. Peters, Mrs. Fischer, Ms. Butler, Mr. Scott of South Carolina, Ms. Klobuchar, Mr. Hawley, Mr. Warnock, Mr. Cornyn, Mr. Murphy, Mr. Scott of Florida, Ms. Baldwin, Mrs. Britt, Ms. Smith, Mr. Barrasso, Mr. Hickenlooper, Mrs. Hyde-Smith, Mr. Welch, Mr. Wicker, Mr. Bennet, Mr. Cruz, Mr. Heinrich, Mr. Young, Mr. Padilla, Mr. Cramer, Mr. Kelly, Mr. Moran, Mr. Reed, Mr. Thune, Mr. Ossoff, Mr. Tillis, Mr. Kaine, Mr. Warner, Mr. Van Hollen, Ms. Hassan, Mr. Fetterman, and Mr. Schmitt), S3317 [2MY] Text, S3320 [2MY] Agreed to in the Senate, S3368 [2MY] S. Res. 672 — A resolution recognizing and supporting the goals and ideals of National Sexual Assault Awareness and Prevention Month. By Mr. GRASSLEY (for himself, Mrs. Shaheen, Mr. Tillis, Ms. Cortez Masto, Ms. Hassan, Mr. Durbin, Ms. Smith, Mr. Blumenthal, Mr. Wyden, Mr. Heinrich, Mrs. Murray, Ms. Ernst, Mr. Luján, Mr. Fetterman, Ms. Collins, Ms. Klobuchar, Mrs. Blackburn, Mr. Padilla, Mr. Whitehouse, Ms. Hirono, and Mr. Marshall), S3317 [2MY] Text, S3320 [2MY] Agreed to in the Senate, S3368 [2MY] S. Res. 673 — A resolution honoring the life of David Hampton Pryor, former United States Senator for the State of Arkansas. By Mr. BOOZMAN (for himself, Mr. Cotton, Mr. Schumer, Mr. McConnell, Ms. Baldwin, Mr. Barrasso, Mr. Bennet, Mrs. Blackburn, Mr. Blumenthal, Mr. Booker, Mr. Braun, Mrs. Britt, Mr. Brown, Mr. Budd, Ms. Butler, Ms. Cantwell, Mrs. Capito, Mr. Cardin, Mr. Carper, Mr. Casey, Mr. Cassidy, Ms. Collins, Mr. Coons, Mr. Cornyn, Ms. Cortez Masto, Mr. Cramer, Mr. Crapo, Mr. Cruz, Mr. Daines, Ms. Duckworth, Mr. Durbin, Ms. Ernst, Mr. Fetterman, Mrs. Fischer, Mrs. Gillibrand, Mr. Graham, Mr. Grassley, Mr. Hagerty, Ms. Hassan, Mr. Hawley, Mr. Heinrich, Mr. Hickenlooper, Ms. Hirono, Mr. Hoeven, Mrs. Hyde-Smith, Mr. Johnson, Mr. Kaine, Mr. Kelly, Mr. Kennedy, Mr. King, Ms. Klobuchar, Mr. Lankford, Mr. Lee, Mr. Luján, Ms. Lummis, Mr. Manchin, Mr. Markey, Mr. Marshall, Mr. Menendez, Mr. Merkley, Mr. Moran, Mr. Mullin, Ms. Murkowski, Mr. Murphy, Mrs. Murray, Mr. Ossoff, Mr. Padilla, Mr. Paul, Mr. Peters, Mr. Reed, Mr. Ricketts, Mr. Risch, Mr. Romney, Ms. Rosen, Mr. Rounds, Mr. Rubio, Mr. Sanders, Mr. Schatz, Mr. Schmitt, Mr. Scott of Florida, Mr. Scott of South Carolina, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Sullivan, Mr. Tester, Mr. Thune, Mr. Tillis, Mr. Tuberville, Mr. Van Hollen, Mr. Vance, Mr. Warner, Mr. Warnock, Ms. Warren, Mr. Welch, Mr. Whitehouse, Mr. Wicker, Mr. Wyden, and Mr. Young), S3317 [2MY] Text, S3321 [2MY] Agreed to in the Senate, S3369 [2MY] Message from the Senate (received May 3, 2024), H2840 [6MY] S. Res. 674 — A resolution designating May 5, 2024, as the ‘‘National Day of Awareness for Missing and Murdered Native Women and Girls’’. By Mr. DAINES (for himself, Mr. Tester, Ms. Murkowski, Mr. Cramer, Mr. Lankford, Mr. Ricketts, Mr. Hoeven, Mr. Moran, Mr. Schatz, Mr. Padilla, Ms. Cortez Masto, Ms. Baldwin, Ms. Smith, Ms. Cantwell, Ms. Sinema, Mr. Hickenlooper, Mrs. Murray, Ms. Butler, Mr. Luján, Ms. Rosen, Mr. Wyden, Mr. Heinrich, Mr. Bennet, Ms. Klobuchar, Ms. Hirono, Mr. Rounds, and Mr. Sullivan), S3317 [2MY] Text, S3322 [2MY] Agreed to in the Senate, S3368 [2MY] S. Res. 675 — A resolution promoting minority health awareness and supporting the goals and ideals of National Minority Health Month in April 2024, which include bringing attention to the health disparities faced by minority populations of the United States such as American Indians, Alaska Natives, Asian Americans, African Americans, Hispanics, and Native Hawaiians and other Pacific Islanders. By Mr. CARDIN (for himself, Mr. Scott of South Carolina, Mr. Booker, Mr. Rubio, Mr. Padilla, Mr. Brown, Ms. Hirono, Mr. Menendez, and Mr. Braun), S3317 [2MY] Text, S3322 [2MY] Agreed to in the Senate, S3368 [2MY] S. Res. 676 — A resolution supporting the goals and ideals of National Nurses Week, to be observed from May 6 through May 12, 2024; to the Committee on Health, Education, Labor, and Pensions. By Mr. MERKLEY (for himself, Mr. Wicker, Mrs. Blackburn, Mr. Blumenthal, Mr. Booker, Mr. Brown, Mrs. Capito, Ms. Cortez Masto, Mr. Cramer, Mr. Daines, Ms. Duckworth, Mr. Grassley, Mr. Hickenlooper, Ms. Hirono, Mr. Luján, Mr. Manchin, Mr. Padilla, Mr. Peters, Mr. Rounds, Mrs. Shaheen, Ms. Sinema, Ms. Smith, Ms. Stabenow, Mr. Tillis, Ms. Warren, and Mr. Welch), S3503 [7MY] Text, S3506 [7MY] Cosponsors added, S3598 [8MY], S3655 [9MY] S. Res. 677 — A resolution recognizing the roles and contributions of the teachers of the United States in building and enhancing the civic, cultural, and economic well-being of the United States. By Mr. BROWN (for himself, Ms. Collins, Mr. Blumenthal, Mr. Whitehouse, Mr. Padilla, Mr. Carper, Mr. Peters, Mr. Reed, Mrs. Shaheen, Mr. Casey, Mr. Welch, Mr. Hickenlooper, Mr. King, Mr. Merkley, Mr. Durbin, Ms. Butler, Mr. Kaine, Ms. Hirono, Ms. Klobuchar, Ms. Hassan, Mr. Manchin, Mr. Sanders, Mr. Booker, Mr. Van Hollen, Ms. Cantwell, Mr. Bennet, Mr. Hagerty, Mr. Cramer, Mr. Rubio, and Mrs. Capito), S3597 [8MY] Text, S3599 [8MY] Agreed to in the Senate, S3626 [8MY] S. Res. 678 — A resolution designating May 3, 2024, as ‘‘United States Foreign Service Day’’ in recognition of the men and women who have served, or are presently serving, in the Foreign Service of the United States, and honoring the members of the Foreign Service who have given their lives in the line of duty. By Mr. SULLIVAN (for himself and Mr. Van Hollen), S3597 [8MY] Text, S3599 [8MY] Agreed to in the Senate, S3626 [8MY] S. Res. 679 — A resolution expressing support for the goals and ideals of National Child Abuse Prevention Month. By Mr. CORNYN (for himself, Mr. Casey, Mrs. Blackburn, and Ms. Hassan), S3597 [8MY] Text, S3599 [8MY] Agreed to in the Senate, S3626 [8MY] S. Res. 680 — A resolution condemning the violent, anti-American and anti-Israel protests that are occurring on campuses of institutions of higher education nationwide; to the Committee on the Judiciary. By Mr. BUDD (for himself, Mr. Lee, Mr. Risch, Mr. Crapo, Mr. Rubio, Mr. Cruz, Mrs. Blackburn, Mr. Tuberville, Ms. Ernst, and Mr. Barrasso), S3654 [9MY] Text, S3659 [9MY] Cosponsors added, S3687 [14MY] S. Res. 681 — A resolution supporting the designation of May 10, 2024, as ‘‘National Asian American, Native Hawaiian, and Pacific Islander Mental Health Day’’; to the Committee on Health, Education, Labor, and Pensions. By Ms. HIRONO (for herself, Mr. Booker, Ms. Cantwell, Ms. Cortez Masto, Ms. Duckworth, Mr. Fetterman, Mrs. Gillibrand, Mr. Markey, Mr. Padilla, Mr. Schatz, and Ms. Warren), S3654 [9MY] Text, S3659 [9MY] S. Res. 682 — A resolution condemning the decision by the Biden Administration to halt the shipment of United States made ammunition and weapons to the State of Israel; to the Committee on Foreign Relations. By Mr. GRAHAM (for himself, Mr. Cotton, Ms. Collins, Mr. Cruz, Ms. Ernst, Mr. Marshall, Mr. Barrasso, Mr. Tillis, Mr. Cramer, Mr. Rubio, Mr. Hagerty, Mr. Cornyn, Mr. Crapo, Mr. Grassley, Ms. Lummis, Mr. Hawley, Mr. Daines, Mrs. Capito, Mr. Sullivan, Mrs. Fischer, Mr. Budd, Mr. Mullin, Mrs. Blackburn, Mr. Romney, Mr. Scott of Florida, Mr. Wicker, Mr. Hoeven, Mr. Thune, Mr. Young, Mrs. Britt, Mr. Cassidy, Mr. Rounds, Mr. Risch, Mr. Braun, Mr. Kennedy, Mr. Scott of South Carolina, Mr. Tuberville, Mr. Lankford, Ms. Murkowski, Mrs. Hyde-Smith, Mr. Johnson, Mr. Schmitt, Mr. Ricketts, Mr. Lee, Mr. Boozman, Mr. Moran, Mr. Vance, and Mr. McConnell), S3654 [9MY] Text, S3659 [9MY] S. Res. 683 — A resolution supporting the designation of the week of April 29 through May 3, 2024, as ‘‘National Specialized Instructional Support Personnel Appreciation Week’’. By Ms. HASSAN (for herself, Mr. Cornyn, Mr. Kaine, and Ms. Collins), S3654 [9MY] Text, S3660 [9MY] Agreed to in the Senate, S3667 [9MY] S. Res. 684 — A resolution supporting the role of the United States in helping save the lives of children and protecting the health of people in low-income countries with vaccines and immunization through Gavi, the Vaccine Alliance (‘‘Gavi’’ ); to the Committee on Foreign Relations. By Mr. WICKER (for himself and Mr. Cardin), S3686 [14MY] Text, S3687 [14MY] Cosponsors added, S4086 [13JN], S4155 [18JN] S. Res. 685 — A resolution welcoming President Santiago Pena of Paraguay and commemorating the bilateral relationship between the Republic of Paraguay and the United States; to the Committee on Foreign Relations. By Mr. CARDIN (for himself, Mr. Rubio, Mr. Kaine, Mr. Cassidy, and Mr. Merkley), S3686 [14MY] Text, S3688 [14MY] S. Res. 686 — A resolution designating May 18, 2024, as ‘‘Kids to Parks Day’’. By Mr. WYDEN (for himself, Mrs. Hyde-Smith, Mr. King, Ms. Collins, Ms. Hirono, Mr. Daines, and Mr. Heinrich), S3686 [14MY] Text, S3689 [14MY] S. Res. 687 — A resolution expressing the sense of the Senate regarding United Nations General Assembly Resolution 2758 (XXVI) and the harmful conflation of China’s ‘‘One China Principle’’ and the United States’ ‘‘One China Policy’’; to the Committee on Foreign Relations. By Mr. RISCH (for himself and Mrs. Shaheen), S3711 [15MY] Text, S3713 [15MY] Cosponsors added, S3816 [21MY] S. Res. 688 — A resolution recognizing widening threats to freedom of the press and free expression around the world, reaffirming the vital role that a free and independent press plays in combating the growing threats of authoritarianism, misinformation, and disinformation, and reaffirming freedom of the press as a priority of the United States Government in promoting democracy, human rights, and good governance in commemoration of World Press Freedom Day on May 3, 2024; to the Committee on Foreign Relations. By Mr. CARDIN (for himself, Mr. Kaine, Mr. Merkley, Mr. Schatz, and Mr. Van Hollen), S3711 [15MY] Text, S3714 [15MY] S. Res. 689 — A resolution supporting the goals and ideals of National Hospital Week, to be observed from May 12 through May 18, 2024. By Mr. BARRASSO (for himself, Mr. Whitehouse, Mrs. Blackburn, and Mrs. Capito), S3711 [15MY] Text, S3718 [15MY] Agreed to in the Senate, S3739 [15MY] Cosponsors added, S3757 [16MY] S. Res. 690 — A resolution supporting the designation of May 15, 2024, as ‘‘National Senior Fraud Awareness Day’’ to raise awareness about the increasing number of fraudulent scams targeted at seniors in the United States, to encourage the implementation of policies to prevent those scams from happening, and to improve protections from those scams for seniors. By Ms. COLLINS (for herself, Ms. Sinema, Mr. Scott of Florida, Mr. Grassley, Mr. Wicker, Mr. Risch, Ms. Baldwin, Mr. King, Mr. Crapo, Ms. Cortez Masto, Mr. Heinrich, and Mr. Cassidy), S3711 [15MY] Text, S3719 [15MY] Agreed to in the Senate, S3739 [15MY] S. Res. 691 — A resolution expressing support for the designation of May 17, 2024, as ‘‘DIPG Pediatric Brain Cancer Awareness Day’’ to raise awareness of, and encourage research on, diffuse intrinsic pontine glioma tumors and pediatric cancers in general. By Mr. RUBIO (for himself, Mr. Reed, Mr. Braun, Mr. Casey, Mrs. Hyde-Smith, and Mrs. Fischer), S3711 [15MY] Text, S3719 [15MY] Agreed to in the Senate, S3739 [15MY] S. Res. 692 — A resolution supporting the mission and goals of National Fentanyl Awareness Day in 2024, including increasing individual and public awareness of the impact of fake or counterfeit fentanyl pills on families and young people. By Mr. GRASSLEY (for himself, Ms. Butler, Mr. Cramer, Mrs. Shaheen, Mr. Rubio, Ms. Cortez Masto, Mr. Daines, Mr. Blumenthal, Mr. Hagerty, Mr. Moran, Mr. Bennet, Mr. Hoeven, Mr. Brown, Ms. Rosen, Ms. Sinema, Mr. Casey, Ms. Baldwin, Mr. Whitehouse, Mr. Risch, Mr. Markey, Ms. Warren, Mr. Padilla, Mr. Kelly, Mr. King, Mr. Coons, Mr. Young, Mr. Merkley, Mr. Scott of Florida, Mr. Tester, Mrs. Blackburn, Ms. Hassan, Mr. Menendez, Mr. Warnock, Mrs. Britt, Ms. Klobuchar, Mr. Crapo, Mr. Manchin, Mrs. Capito, Mr. Sullivan, Mr. Graham, and Ms. Cantwell), S3711 [15MY] Text, S3720 [15MY] Agreed to in the Senate, S3739 [15MY] S. Res. 693 — A resolution recognizing the significance of Asian American, Native Hawaiian, and Pacific Islander Heritage Month as an important time to celebrate the significant contributions of Asian Americans, Native Hawaiians, and Pacific Islanders to the history of the United States. By Ms. HIRONO (for herself, Ms. Duckworth, Ms. Collins, Ms. Baldwin, Mr. Blumenthal, Mr. Booker, Ms. Cantwell, Mr. Carper, Mr. Casey, Mr. Coons, Ms. Cortez Masto, Mr. Fetterman, Mrs. Gillibrand, Mr. Kaine, Ms. Klobuchar, Mr. Markey, Mr. Merkley, Mrs. Murray, Mr. Padilla, Ms. Rosen, Mr. Schatz, Ms. Warren, Mr. Wyden, Mr. Reed, Mr. Warnock, Ms. Butler, Ms. Stabenow, Ms. Hassan, Ms. Smith, Mr. Van Hollen, Mr. Durbin, Mr. Cardin, and Mr. Menendez), S3711 [15MY] Text, S3720 [15MY] Agreed to in the Senate, S3739 [15MY] S. Res. 694 — A resolution expressing support for the designation of May 2024 as ‘‘Renewable Fuels Month’’ to recognize the important role that renewable fuels play in reducing carbon impacts, lowering fuel prices for consumers, supporting rural communities, and lessening reliance on foreign adversaries; to the Committee on Energy and Natural Resources. By Mr. RICKETTS (for himself, Mr. Brown, Ms. Duckworth, Mr. Marshall, Mr. Thune, Ms. Ernst, Ms. Klobuchar, Mr. Moran, Ms. Smith, Mr. Grassley, Mrs. Fischer, and Mr. Rounds), S3755 [16MY] Text, S3757, S3760 [16MY] S. Res. 695 — A resolution expressing support for the designation of May 2024 as ‘‘Motorcycle Safety Awareness Month’’. By Mr. PETERS (for himself and Ms. Ernst), S3755 [16MY] Text, S3757 [16MY] Agreed to in the Senate, S3760 [16MY] S. Res. 696 — A resolution honoring the life and legacy of Carl Daniel Erskine. By Mr. BRAUN (for himself and Mr. Young), S3755 [16MY] Text, S3757 [16MY] Agreed to in the Senate, S3760 [16MY] S. Res. 697 — A resolution designating the week of May 12 through May 18, 2024, as ‘‘National Police Week’’. By Mr. GRAHAM (for himself, Mr. Durbin, Mr. Grassley, Mr. Whitehouse, Mr. Cornyn, Ms. Klobuchar, Mr. Lee, Mr. Coons, Mr. Cruz, Mr. Blumenthal, Mr. Hawley, Ms. Hirono, Mr. Cotton, Mr. Padilla, Mr. Kennedy, Mr. Ossoff, Mr. Tillis, Mr. Reed, Mrs. Blackburn, Mr. Carper, Mr. McConnell, Mr. Brown, Ms. Collins, Mr. Casey, Mr. Crapo, Mr. Tester, Ms. Murkowski, Mrs. Shaheen, Mr. Thune, Mr. Bennet, Mr. Barrasso, Mr. Manchin, Mr. Wicker, Mr. Schatz, Mr. Risch, Ms. Baldwin, Mr. Moran, Mr. King, Mr. Boozman, Mr. Kaine, Mr. Hoeven, Mr. Peters, Mr. Rubio, Ms. Duckworth, Mr. Johnson, Ms. Hassan, Mr. Paul, Ms. Cortez Masto, Mr. Scott of South Carolina, Ms. Sinema, Mrs. Fischer, Ms. Rosen, Mrs. Capito, Mr. Fetterman, Mr. Cassidy, Mr. Lankford, Mr. Daines, Mr. Rounds, Ms. Ernst, Mr. Sullivan, Mr. Young, Mrs. Hyde-Smith, Mr. Cramer, Mr. Romney, Mr. Braun, Mr. Scott of Florida, Ms. Lummis, Mr. Marshall, Mr. Hagerty, Mr. Tuberville, Mr. Mullin, Mr. Budd, Mr. Vance, Mr. Schmitt, Mrs. Britt, Mr. Ricketts, Mr. Cardin, and Mr. Warnock), S3755 [16MY] Text, S3758 [16MY] Agreed to in the Senate, S3760 [16MY] S. Res. 698 — A resolution expressing support for the designation of June 9, 2024, as ‘‘Veterans Get Outside Day’’. By Mr. CASSIDY (for himself, Mr. King, and Mr. Cramer), S3755 [16MY] Text, S3759 [16MY] Agreed to in the Senate, S3760 [16MY] S. Res. 699 — A resolution congratulating the students, parents, teachers, and leaders of charter schools across the United States for making ongoing contributions to education and supporting the ideals and goals of the 25th Annual National Charter Schools Week, to be held May 12 through May 18, 2024. By Mr. SCOTT of South Carolina (for himself, Mr. Bennet, Mr. Cassidy, Mr. Johnson, Mr. Risch, Mr. Crapo, Mrs. Hyde-Smith, Mr. Hickenlooper, Mr. Hagerty, Mr. Tillis, Mr. Tuberville, Mr. Carper, Mr. Cornyn, Mr. Cramer, Mr. Cruz, Mr. Rubio, Ms. Hassan, Mr. McConnell, Mrs. Britt, Mr. Booker, Mr. Braun, and Mrs. Blackburn), S3755 [16MY] Agreed to in the Senate, S3760 [16MY] S. Res. 700 — A resolution supporting the efforts of the United States and international partners to facilitate a security environment that is conducive to holding free and fair elections in Haiti and promoting a durable return to democratic governance; to the Committee on Foreign Relations. By Mr. MURPHY (for himself, Mr. Cassidy, and Mr. Kaine), S3815 [21MY] Text, S3816 [21MY] S. Res. 701 — A resolution designating the week of May 19 through May 25, 2024, as ‘‘National Public Works Week’’. By Mr. CARPER (for himself, Mrs. Capito, Mr. Boozman, Mr. Cardin, Mr. Cramer, Mr. Kelly, Mr. Wicker, Mr. Whitehouse, and Ms. Lummis), S3855 [22MY] Text, S3857 [22MY] Agreed to in the Senate, S3858 [22MY] S. Res. 702 — A resolution recognizing the contributions of Hispanic and Latino Americans to the musical heritage of the United States and designating May 2024 as ‘‘Latin Music Appreciation Month’’; to the Committee on the Judiciary. By Mr. LUJÁN (for himself and Mr. Rubio), S3884 [23MY] Text, S3887 [23MY] S. Res. 703 — A resolution designating a day in May 2024, as ‘‘Disability Reproductive Equity Day’’; to the Committee on the Judiciary. By Ms. DUCKWORTH (for herself, Mrs. Murray, Mr. Heinrich, Mr. Welch, Mr. Markey, Ms. Smith, Mr. Merkley, Mr. Padilla, Ms. Hirono, Ms. Stabenow, Mr. Casey, and Mr. Booker), S3884 [23MY] Text, S3888 [23MY] Cosponsors added, S3956 [4JN] S. Res. 704 — A resolution recognizing the strategic importance of Kenya to the United States and celebrating the 60-year anniversary of United States-Kenya relations; to the Committee on Foreign Relations. By Mr. BOOKER (for himself, Mr. Scott of South Carolina, Mr. Coons, and Mr. Young), S3884 [23MY] Text, S3889 [23MY] S. Res. 705 — A resolution recognizing May 28, 2024, as the 100th anniversary of the U.S. Border Patrol and commending the service of the U.S. Border Patrol to the United States people; to the Committee on Homeland Security and Governmental Affairs. By Mr. CORNYN (for himself, Mr. Cruz, Ms. Sinema, Mr. Tester, Mr. Tillis, Mr. Risch, Mr. Crapo, Mr. Cramer, Mr. Lankford, Mr. Manchin, Mr. Daines, Ms. Collins, Mr. Kelly, Mr. Kennedy, Mr. King, Ms. Cortez Masto, Mr. Graham, Mr. Scott of Florida, Mr. Hoeven, Mr. Budd, and Mr. Peters), S3884 [23MY] Text, S3890 [23MY] S. Res. 706 — A resolution recognizing National Foster Care Month as an opportunity to raise awareness about the challenges of children in the foster care system, and encouraging Congress to implement policies to improve the lives of children in the foster care system. By Mr. GRASSLEY (for himself, Ms. Stabenow, Mr. Kaine, Mrs. Capito, Ms. Hassan, Mr. Cornyn, Mr. Luján, Mr. Barrasso, Mr. Peters, Mrs. Britt, Ms. Klobuchar, Mr. Wicker, Mr. Casey, Mr. Young, Mr. Warner, Mr. Manchin, Mr. Padilla, Mr. Crapo, Mr. Wyden, Mr. Mullin, Mr. Risch, and Mrs. Hyde-Smith), S3884 [23MY] Text, S3890 [23MY] Agreed to in the Senate, S3899 [23MY] S. Res. 707 — A resolution recognizing the significance of Jewish American Heritage Month as a time to celebrate the contributions of Jewish Americans to the society and culture of the United States. By Mr. SCOTT of Florida (for himself, Ms. Rosen, Mr. Schumer, Mr. Rubio, Mrs. Gillibrand, Mr. Grassley, Mr. Menendez, Mr. Cramer, Mr. Kaine, Mr. Hagerty, Mr. Warnock, Mr. Lankford, Ms. Cortez Masto, Mr. Barrasso, Mr. Padilla, Mr. Crapo, Mr. Fetterman, Mr. Cassidy, Mr. Wyden, Mr. Risch, Mr. Hickenlooper, Mr. Graham, Ms. Baldwin, Mr. Cotton, Mr. Van Hollen, Mr. Hoeven, Mrs. Murray, Mrs. Blackburn, Mr. Kelly, Mrs. Shaheen, Mr. Cardin, Ms. Duckworth, Mr. Casey, Mr. Ossoff, and Mr. Reed), S3884 [23MY] Text, S3891 [23MY] Agreed to in the Senate, S3899 [23MY] S. Res. 708 — A resolution commemorating the 100th anniversary of the designation of the Gila Wilderness. By Mr. HEINRICH (for himself and Mr. Luján), S3884 [23MY] Text, S3891 [23MY] Agreed to in the Senate, S3899 [23MY] S. Res. 709 — A resolution expressing support for the designation of May 2024 as ‘‘Mental Health Awareness Month’’; to the Committee on Health, Education, Labor, and Pensions. By Mr. LUJÁN, S3884 [23MY] Text, S3892 [23MY] S. Res. 710 — A resolution supporting the designation of May 29, 2024, as ‘‘Mental Health Awareness in Agriculture Day’’ to raise awareness around mental health in the agricultural industry and workforce and to continue to reduce stigma associated with mental illness; to the Committee on the Judiciary. By Mrs. FISCHER (for herself and Mr. Bennet), S3885 [23MY] Text, S3892 [23MY] Cosponsors added, S3932 [3JN] Committee discharged. Agreed to in the Senate, S4117 [17JN] S. Res. 711 — A resolution designating May 2024 as ‘‘American Stroke Month’’; to the Committee on the Judiciary. By Mr. LUJÁN (for himself, Mr. Braun, Mr. Van Hollen, and Mr. Rubio), S3885 [23MY] Text, S3892 [23MY] S. Res. 712 — A resolution designating May 2024 as ‘‘Older Americans Month’’. By Mr. KELLY (for himself, Mr. Braun, Ms. Warren, Mr. Blumenthal, Mr. Scott of Florida, Mr. Scott of South Carolina, Ms. Collins, Mr. Rubio, and Mr. Vance), S3885 [23MY] Text, S3893 [23MY] Agreed to in the Senate, S3905 [23MY] Cosponsors added, S3956 [4JN] S. Res. 713 — A resolution designating May 2024 as ‘‘ALS Awareness Month’’; to the Committee on the Judiciary. By Mr. COONS (for himself, Mr. Braun, Mr. Durbin, Ms. Klobuchar, Mr. Merkley, Mr. Whitehouse, Ms. Murkowski, and Mr. Cotton), S3885 [23MY] Text, S3893 [23MY] Commitee discharged. Agreed to in the Senate, S4023 [11JN] S. Res. 714 — A resolution recognizing and supporting individuals born with congenital disabilities or malformations due to thalidomide exposure; to the Committee on Health, Education, Labor, and Pensions. By Mr. KENNEDY, S3885 [23MY] Text, S3893 [23MY] S. Res. 715 — A resolution remembering the victims of the 1989 Tiananmen Square Massacre, and condemning the widespread repression against citizens, the transnational repression against activists and other individuals, and the systematic efforts to undermine human rights norms within and outside of the United States system by the People’s Republic of China; to the Committee on Foreign Relations. By Mr. CARDIN (for himself, Mr. Merkley, and Mr. Rubio), S3930 [3JN] Text, S3932 [3JN] S. Res. 716 — A resolution expressing support for the designation of June 7, 2024, as ‘‘National Gun Violence Awareness Day’’ and June 2024 as ‘‘National Gun Violence Awareness Month’’; to the Committee on the Judiciary. By Mr. DURBIN (for himself, Ms. Duckworth, Ms. Klobuchar, Mr. Blumenthal, Ms. Hirono, Mr. Booker, Mr. Welch, Mr. Reed, Mr. Kaine, Mr. Heinrich, Mr. Fetterman, Mr. Casey, Ms. Baldwin, Mr. Murphy, and Mr. Wyden), S3930 [3JN] Text, S3934 [3JN] Cosponsors added, S3993 [5JN] S. Res. 717 — A resolution calling on the Biden Administration to pursue censure of Iran at the International Atomic Energy Agency (IAEA), refer the issue to the United Nations Security Council, and reaffirm that all measures will be taken to prevent the regime in Iran from acquiring nuclear weapons; to the Committee on Foreign Relations. By Mr. SCOTT of South Carolina (for himself, Mr. Cotton, Mr. Cassidy, Mr. Graham, Mr. Cornyn, Mr. Tillis, Mr. Crapo, Mr. Scott of Florida, Ms. Lummis, Mr. Cruz, Mr. Budd, and Mr. Ricketts), S3930 [3JN] Text, S3934 [3JN] Cosponsors added, S3956 [4JN], S3993 [5JN] S. Res. 718 — A resolution expressing the sense of the Senate that the United States Government should immediately place a moratorium on all federally funded gain-of-function research given the increased safety concerns; to the Committee on Health, Education, Labor, and Pensions. By Mr. MARSHALL (for himself, Mr. Braun, and Mr. Lee), S3954 [4JN] Objection is heard to request for consideration, S3944 [4JN] Text, S3956 [4JN] Cosponsors added, S4021 [11JN] S. Res. 719 — A resolution designating June 13, 2024, as ‘‘National Seersucker Day’’, designating every Thursday after National Seersucker Day through the last Thursday in August 2024 as ‘‘Seersucker Thursday’’, and designating June 2024 as ‘‘Seersucker Appreciation Month’’. By Mr. CASSIDY (for himself and Mr. Warnock), S3954 [4JN] Text, S3957 [4JN] Agreed to in the Senate, S3961 [4JN] S. Res. 720 — A resolution congratulating Trine University men’s basketball team for winning the 2024 National Collegiate Athletic Association Division III Men’s Basketball National Championship. By Mr. YOUNG (for Mr. BRAUN (for himself and Mr. Young)), S3954 [4JN] Text, S3958 [4JN] Agreed to in the Senate, S3961 [4JN] S. Res. 721 — A resolution congratulating the Grace College Lancers women’s basketball team for winning the 2024 National Christian College Athletic Association Division I National Championship. By Mr. YOUNG (for Mr. BRAUN (for himself and Mr. Young)), S3954 [4JN] Text, S3958 [4JN] Agreed to in the Senate, S3961 [4JN] S. Res. 722 — A resolution expressing the gratitude and appreciation of the Senate for the acts of heroism and valor by the members of the United States Armed Forces who participated in the June 6, 1944, amphibious landing at Normandy, France, and commending those individuals for leadership and bravery in an operation that helped bring an end to World War II. By Mr. BOOZMAN (for himself, Mr. Coons, Mr. Tillis, Mr. Scott of Florida, Mr. Hoeven, Mr. Risch, Mr. Crapo, Mr. Cramer, Mr. Schmitt, Mrs. Fischer, Mr. Daines, Mr. Rubio, Mr. Wicker, Mrs. Capito, Mr. Braun, Mr. Grassley, Mr. Ricketts, Mr. Cornyn, Mr. Tuberville, Mr. Marshall, Ms. Ernst, Ms. Murkowski, Mrs. Britt, Mr. Cruz, Mr. Lankford, Mr. Thune, Mr. Cotton, Mr. Hagerty, Mr. Young, Mr. Barrasso, Ms. Collins, Mr. Moran, Mr. Kelly, Mr. Blumenthal, Mrs. Shaheen, Mr. Cardin, Mr. Durbin, Mr. King, Mr. Carper, Mr. Fetterman, Mr. Murphy, Mr. Manchin, Mr. Markey, Mr. Tester, Ms. Rosen, Ms. Cortez Masto, Mr. Booker, Ms. Klobuchar, Mr. Wyden, Mr. Peters, Mr. Van Hollen, Ms. Warren, Ms. Sinema, Mr. Warner, Mrs. Murray, Ms. Smith, Mr. Menendez, Ms. Hassan, Mr. Whitehouse, Mr. Reed, Ms. Duckworth, and Mr. Kaine), S3954 [4JN] Text, S3958 [4JN] Agreed to in the Senate, S3961 [4JN] S. Res. 723 — A resolution celebrating 40 years of Universal Design for Learning. By Ms. HASSAN (for herself and Mr. Casey), S3954 [4JN] Text, S3959 [4JN] Agreed to in the Senate, S3961 [4JN] S. Res. 724 — A resolution designating May 2024 as ‘‘National Brain Tumor Awareness Month’’. By Mr. DAINES (for himself, Mr. Markey, Mr. Rubio, and Ms. Sinema), S3954 [4JN] Text, S3959 [4JN] Agreed to in the Senate, S3961 [4JN] S. Res. 725 — A resolution affirming the legal status of contraception following the Supreme Court’s decision in Dobbs v. Jackson Women’s Health Organization, 597 U.S. 215 (2022); to the Committee on the Judiciary. By Mrs. BLACKBURN (for herself, Mr. Graham, Mr. Daines, Mr. Grassley, Mr. Marshall, Mrs. Britt, Mr. Budd, and Mr. Rounds), S3991 [5JN] Text, S3993 [5JN] Cosponsors added, S4021 [11JN] S. Res. 726 — A resolution designating June 6, 2024, as National Naloxone Awareness Day. By Mr. SCOTT of Florida (for himself, Mr. Markey, Mrs. Capito, Ms. Cantwell, Mr. Braun, Mr. Rubio, Mr. King, Mr. Manchin, Mr. Heinrich, Mr. Wyden, Mr. Luján, Mr. Brown, Mr. Van Hollen, and Ms. Rosen), S3991 [5JN] Text, S3993 [5JN] Agreed to in the Senate, S4002 [5JN] S. Res. 727 — A resolution designating June 2024 as ‘‘Great Outdoors Month’’. By Mr. DAINES (for himself, Mr. Peters, Mr. King, Mrs. Shaheen, Mr. Wyden, Mr. Tester, Mr. Hickenlooper, Mr. Van Hollen, Mr. Marshall, and Mr. Manchin), S4019 [11JN] Text, S4022 [11JN] Agreed to in the Senate, S4023 [11JN] S. Res. 728 — A resolution commending the University of South Alabama on the occasion of its 60th anniversary and its years of service to the State of Alabama and the United States. By Mrs. BRITT (for herself and Mr. Tuberville), S4019 [11JN] Text, S4022 [11JN] Agreed to in the Senate, S4023 [11JN] S. Res. 729 — A resolution recognizing the contributions of African Americans to the musical heritage of the United States and the need for greater access to music education for African-American students and designating June 2024 as ‘‘African-American Music Appreciation Month’’; to the Committee on the Judiciary. By Mr. BOOKER (for himself, Ms. Butler, Mr. Van Hollen, Mr. Durbin, Ms. Klobuchar, and Mr. Brown), S4055 [12JN] Text, S4057 [12JN] S. Res. 730 — A resolution designating June 23, 2024, as ‘‘Social Media Harms Victim Remembrance Day’’; to the Committee on the Judiciary. By Ms. KLOBUCHAR (for herself and Mrs. Blackburn), S4055 [12JN] Text, S4058 [12JN] S. Res. 731 — A resolution honoring the memory of the victims of the heinous attack at the Pulse nightclub on June 12, 2016. By Mr. SCOTT of Florida (for himself and Mr. Rubio), S4055 [12JN] Text, S4058 [12JN] Agreed to in the Senate, S4059 [12JN] S. Res. 732 — A resolution celebrating the 247th anniversary of the creation of the flag of the United States and expressing support for the Pledge of Allegiance. By Mr. BRAUN (for himself, Mr. Budd, Mr. Scott of Florida, Mr. Schmitt, and Mr. Young), S4085 [13JN] Agreed to in the Senate, S4064 [13JN] Text, S4088 [13JN] S. Res. 733 — A resolution honoring the life and legacy of Patrick Gottsch; to the Committee on the Judiciary. By Mrs. HYDE-SMITH (for herself, Mrs. Fischer, Mr. Ricketts, Mr. Daines, Ms. Lummis, and Mr. Barrasso), S4085 [13JN] Text, S4088 [13JN] S. Res. 734 — A resolution recognizing 30 years since the International Conference on Population and Development in Cairo, Egypt, and reaffirming the goals and ideals of the International Conference on Population and Development Programme of Action, including comprehensive sexual and reproductive health and rights; to the Committee on Foreign Relations. By Mrs. SHAHEEN (for herself and Ms. Duckworth), S4085 [13JN] Text, S4089 [13JN] S. Res. 735 — A resolution designating July 17, 2024, as ‘‘Glioblastoma Awareness Day’’. By Mr. GRAHAM (for himself, Ms. Sinema, Mr. Scott of South Carolina, Mr. Kelly, Mr. Van Hollen, Mr. Warnock, Mr. Rubio, Mr. Markey, Ms. Warren, Mr. Coons, and Mr. Barrasso), S4085 [13JN] Text, S4090 [13JN] Agreed to in the Senate, S4096 [13JN] S. Res. 736 — A resolution recognizing the importance of trademarks in the economy and the role of trademarks in protecting consumer safety, by designating the month of July as ‘‘National Anti-Counterfeiting and Consumer Education and Awareness Month’’; to the Committee on the Judiciary. By Mr. COONS (for himself, Mr. Grassley, Ms. Hirono, and Mr. Tillis), S4085 [13JN] Text, S4090 [13JN] S. Res. 737 — A resolution supporting Senate military-connected fellowship opportunities, and for other purposes. By Mrs. FISCHER (for herself and Ms. Klobuchar), S4115 [17JN] Text, S4117 [17JN] Agreed to in the Senate, S4117 [17JN] S. Res. 738 — A resolution expressing support for the designation of June 19, 2024, as ‘‘World Sickle Cell Awareness Day’’ in order to increase public awareness across the United States and global community about sickle cell disease and the continued need for empirical research, early detection screenings, novel effective treatments leading to a cure, and preventative care programs with respect to complications from sickle cell anemia and conditions relating to sickle cell disease; to the Committee on Foreign Relations. By Mr. BOOKER (for himself, Mr. Brown, Ms. Klobuchar, and Mr. Van Hollen), S4153 [18JN] Text, S4155 [18JN] S. Res. 739 — A resolution celebrating the historic anniversary of the June 24, 2022, decision of the Supreme Court of the United States in Dobbs v. Jackson Women’s Health Organization; to the Committee on the Judiciary. By Mr. RUBIO (for himself, Mr. Tuberville, Mr. Lankford, Mr. Budd, Mr. Wicker, Mrs. Hyde-Smith, Mr. Mullin, Mr. Risch, Mr. Ricketts, Mr. Daines, Mrs. Britt, Mr. Hawley, Mrs. Fischer, Mr. Young, Mr. Lee, Ms. Lummis, Mr. Barrasso, and Mr. Marshall), S4153 [18JN] Text, S4156 [18JN] S. Res. 740 — A resolution acknowledging and apologizing for the mistreatment of, and discrimination against, lesbian, gay, bisexual, and transgender individuals who served the United States in the uniformed services, the Foreign Services, and the Federal civil service; to the Committee on Homeland Security and Governmental Affairs. By Mr. KAINE (for himself, Ms. Baldwin, Mr. Coons, Mr. Merkley, Mr. Fetterman, Mrs. Murray, Mr. Schatz, Mrs. Shaheen, Mr. Casey, Mr. Durbin, Mr. Markey, Mr. Blumenthal, Mr. Cardin, Mr. Whitehouse, Mrs. Gillibrand, Mr. Bennet, Mr. Wyden, Mr. Brown, and Mr. Warner), S4153 [18JN] Text, S4156 [18JN] S. Res. 741 — A resolution condemning the illegitimate regime of Nicolas Maduro in the Bolivarian Republic of Venezuela; to the Committee on Foreign Relations. By Mr. GRAHAM (for himself and Mr. Rubio), S4153 [18JN] Text, S4157 [18JN] S. Res. 742 — A resolution expressing the sense of the Senate that President Joseph R. Biden must dismiss Chairman Martin J. Gruenberg from his employment at the Federal Deposit Insurance Corporation; to the Committee on Banking, Housing, and Urban Affairs. By Ms. ERNST, S4180 [20JN] Objection is heard to request for consideration, S4167 [20JN] Text, S4182 [20JN] S. Res. 743 — A resolution reaffirming the importance of the United States promoting the safety, health, and well-being of refugees and displaced persons in the United States and around the world; to the Committee on Foreign Relations. By Mr. CARDIN (for himself, Mr. Bennet, Mr. Blumenthal, Mr. Booker, Mr. Coons, Ms. Duckworth, Mr. Durbin, Mr. Fetterman, Mr. Hickenlooper, Mr. Kaine, Ms. Klobuchar, Mr. Markey, Mr. Menendez, Mr. Merkley, Mr. Murphy, Mrs. Murray, Mr. Padilla, Mr. Schatz, Mrs. Shaheen, Mr. Van Hollen, Mr. Welch, Mr. Wyden, and Mr. Whitehouse), S4180 [20JN] Text, S4182 [20JN] S. Res. 744 — A resolution expressing support for the designation of June 28, 2024, as ‘‘Stonewall Day’’; to the Committee on the Judiciary. By Mrs. GILLIBRAND (for herself, Mr. Padilla, Mr. Welch, Mr. Fetterman, Ms. Duckworth, Mr. Blumenthal, Ms. Baldwin, Ms. Klobuchar, Mr. Coons, Ms. Warren, Mr. Merkley, Mr. Cardin, Mr. Murphy, Mr. Wyden, Mr. Booker, Mr. Schumer, Mr. Hickenlooper, Ms. Cortez Masto, Mr. Casey, Mr. Bennet, Mr. Kaine, and Mr. Whitehouse), S4180 [20JN] Text, S4184 [20JN] S. Res. 745 — A resolution expressing support for and celebrating the 80th anniversary of the Servicemen’s Readjustment Act of 1944, commonly known as the ‘‘G.I. Bill’’; to the Committee on Veterans’ Affairs. By Mr. CARPER (for himself, Mr. Moran, Mr. Tester, and Mr. Boozman), S4180 [20JN] Text, S4184 [20JN] S. Res. 746 — A resolution commemorating the passage of 3 years since the tragic building collapse in Surfside, Florida, on June 24, 2021; to the Committee on the Judiciary. By Mr. McCONNELL (for Mr. RUBIO (for himself and Mr. Scott of Florida)), S4181 [20JN] Text, S4185 [20JN] S. Res. 747 — A resolution recognizing the importance of pollinators to ecosystem health and agriculture in the United States by designating June 16 through June 22, 2024, as ‘‘National Pollinator Week’’. By Mr. MERKLEY (for himself and Mr. Braun), S4181 [20JN] Text, S4185 [20JN] Agreed to in the Senate, S4198 [20JN] S. Res. 748 — A resolution expressing that the United States should not enter into any bilateral or multilateral agreement to provide security guarantees or long-term security assistance to Ukraine; to the Committee on Foreign Relations. By Mr. LEE (for himself and Mr. Paul), S4181 [20JN] Text, S4186 [20JN] S. Res. 749 — A resolution recognizing June 2024, as ‘‘LGBTQ Pride Month’’; to the Committee on the Judiciary. By Mr. BROWN (for himself, Ms. Smith, Ms. Cortez Masto, Mr. Whitehouse, Mrs. Shaheen, Mr. Padilla, Mr. Coons, Ms. Butler, Mr. Fetterman, Mr. Merkley, Mr. Schatz, Mr. Sanders, Mr. Kaine, Mr. King, Mr. Carper, Ms. Klobuchar, Mr. Blumenthal, Mr. Warnock, Mr. Murphy, Mrs. Gillibrand, Ms. Baldwin, Mr. Cardin, Ms. Duckworth, Mr. Luján, Mr. Welch, Mr. Durbin, Mr. Ossoff, Mrs. Murray, Mr. Casey, Ms. Hassan, Mr. Booker, Ms. Warren, Mr. Bennet, Ms. Hirono, Ms. Sinema, Mr. Peters, Mr. Van Hollen, Mr. Schumer, Ms. Rosen, Mr. Markey, Ms. Cantwell, Mr. Hickenlooper, Mr. Wyden, Mr. Reed, Mr. Kelly, Ms. Stabenow, Mr. Heinrich, Mr. Tester, Mr. Manchin, and Mr. Warner), S4181 [20JN] Text, S4186 [20JN] S. Res. 750 — A resolution commending the Professional Women’s Hockey League Minnesota for winning the inaugural Professional Women’s Hockey League title on May 29, 2024; to the Committee on Commerce, Science, and Transportation. By Ms. KLOBUCHAR (for herself and Ms. Smith), S4181 [20JN] Text, S4188 [20JN] H.R. 2 — A bill to secure the borders of the United States, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Homeland Security, Ways and Means, Education and the Workforce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Objection is heard to request for consideration, S3791 [21MY] H.R. 7 — A bill to prohibit taxpayer funded abortions; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY], H3675 [5JN] H.R. 11 — A bill to expand Americans’ access to the ballot box and reduce the influence of big money in politics, and for other purposes; to the Committee on House Administration, and in addition to the Committees on the Judiciary, Science, Space, and Technology, Oversight and Accountability, Financial Services, Ways and Means, Natural Resources, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3399 [21MY] H.R. 12 — A bill to protect a person’s ability to determine whether to continue or end a pregnancy, and to protect a health care provider’s ability to provide abortion services; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H365 [31JA], H3399 [21MY] H.R. 14 — A bill to amend the Voting Rights Act of 1965 to revise the criteria for determining which States and political subdivisions are subject to section 4 of the Act, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H3485 [22MY] H.R. 15 — A bill to prohibit discrimination on the basis of sex, gender identity, and sexual orientation, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Education and the Workforce, Financial Services, House Administration, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H52 [10JA], H3330 [16MY], H3534 [28MY] H.R. 16 — A bill to authorize the cancellation of removal and adjustment of status of certain aliens, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H [16AP], H52 [10JA], H189 [17JA], H242 [18JA], H273 [29JA], H317 [30JA], H503 [6FE], H823 [5MR], H1149 [12MR], H1235 [19MR], H1354 [21MR], H1499 [22MR], H2318 [11AP], H2701 [29AP], H3274 [15MY], H3526 [23MY], H3681 [7JN], H4110 [14JN] H.R. 17 — A bill to amend the Fair Labor Standards Act of 1938 to provide more effective remedies to victims of discrimination in the payment of wages on the basis of sex, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1000 [6MR], H1034 [7MR], H1094 [11MR] H.R. 20 — A bill to amend the National Labor Relations Act, the Labor Management Relations Act, 1947, and the Labor-Management Reporting and Disclosure Act of 1959, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H432 [5FE], H3399 [21MY] H.R. 24 — A bill to require a full audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks by the Comptroller General of the United States, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H189 [17JA], H4110 [14JN] H.R. 28 — A bill to require the national instant criminal background check system to notify U.S. Immigration and Customs Enforcement and the relevant State and local law enforcement agencies whenever the information available to the system indicates that a person illegally or unlawfully in the United States may be attempting to receive a firearm; to the Committee on the Judiciary. Cosponsors added, H14 [9JA] H.R. 29 — A bill to authorize the Secretary of Homeland Security to suspend the entry of aliens, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP] H.R. 30 — A bill to amend title 18, United States Code, to increase the punishment for certain offenses involving children, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H273 [29JA], H432 [5FE] H.R. 33 — A bill to amend title XVIII of the Social Security Act to provide for coverage of dental, vision, and hearing care under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H52 [10JA], H1034 [7MR], H2445 [16AP], H2771 [30AP], H3000 [8MY], H3205 [14MY], H3726 [11JN] H.R. 34 — A bill to amend the Social Security Act and the Internal Revenue Code of 1986 to include net investment income tax imposed in the Federal Hospital Insurance Trust Fund and to modify the net investment income tax; to the Committee on Ways and Means. Cosponsors added, H317 [30JA], H3726 [11JN] H.R. 35 — A bill to amend title XVIII of the Social Security Act to provide for certain reforms with respect to medicare supplemental health insurance policies; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H2771 [30AP] H.R. 36 — A bill to amend title 18, United States Code, to increase certain penalties for assaulting, resisting, or impeding certain officers or employees; to the Committee on the Judiciary. Cosponsors added, H3485 [22MY] H.R. 38 — A bill to amend title 18, United States Code, to provide a means by which nonresidents of a State whose residents may carry concealed firearms may also do so in the State; to the Committee on the Judiciary. Cosponsors added, H3205 [14MY], H3330 [16MY], H3485 [22MY] H.R. 40 — A bill to address the fundamental injustice, cruelty, brutality, and inhumanity of slavery in the United States and the 13 American colonies between 1619 and 1865 and to establish a commission to study and consider a national apology and proposal for reparations for the institution of slavery, its subsequent de jure and de facto racial and economic discrimination against African Americans, and the impact of these forces on living African Americans, to make recommendations to the Congress on appropriate remedies, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H774 [29FE], H823 [5MR], H1034 [7MR], H1235 [19MR], H2121 [26MR], H2559 [19AP] H.R. 41 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to ensure the timely scheduling of appointments for health care at medical facilities of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H189 [17JA], H365 [31JA], H1094 [11MR] H.R. 42 — A bill to prohibit States from carrying out more than one congressional redistricting after a decennial census and apportionment; to the Committee on the Judiciary. Cosponsors added, H1499 [22MR] H.R. 45 — A bill to amend the Internal Revenue Code of 1986 to simplify reporting requirements, promote tax compliance, and reduce tip reporting compliance burdens in the beauty service industry; to the Committee on Ways and Means. Cosponsors added, H247 [22JA], H1297 [20MR], H3399 [21MY] H.R. 51 — A bill to provide for the admission of the State of Washington, D.C. into the Union; to the Committee on Oversight and Accountability, and in addition to the Committees on Rules, Armed Services, the Judiciary, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H189 [17JA], H247 [22JA], H432 [5FE], H3534 [28MY] H.R. 55 — A bill to amend title 18, United States Code, to enhance criminal penalties for health related stalking, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H432 [5FE] H.R. 68 — A bill to authorize funds to prevent housing discrimination through the use of nationwide testing, to increase funds for the Fair Housing Initiatives Program, and for other purposes; to the Committee on Financial Services. Cosponsors added, H693 [23FE], H2938 [7MY] H.R. 79 — A bill to direct the President to withdraw the United States from the Constitution of the World Health Organization, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H148 [16JA], H2629 [23AP], H2636 [26AP], H2771 [30AP], H2875 [6MY], H3274 [15MY] H.R. 81 — A bill to prohibit funding to the Special Representative for Racial Equity and Justice of the Department of State, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H2629 [23AP] H.R. 82 — A bill to amend title II of the Social Security Act to repeal the Government pension offset and windfall elimination provisions; to the Committee on Ways and Means. Cosponsors added, H52 [10JA], H189 [17JA], H365 [31JA], H432 [5FE], H503 [6FE], H1000 [6MR], H1149 [12MR], H1499 [22MR], H2253 [9AP], H2291 [10AP], H2367 [12AP], H2398 [15AP], H2522 [18AP], H2831 [1MY], H3358 [17MY], H3582 [3JN], H3656 [4JN] H.R. 86 — A bill to amend the Immigration and Nationality Act with respect to the parole or release of an asylum applicant, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 90 — A bill to amend the Immigration and Nationality Act to make voting in a Federal election by an unlawfully present alien an aggravated felony, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 92 — A bill to authorize State enforcement of immigration laws, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H781 [1MR], H2629 [23AP] H.R. 114 — A bill to establish a separate account in the Treasury to hold deposits to be used to secure the southern border of the United States, and for other purposes; to the Committee on Homeland Security, and in addition to the Committees on Ways and Means, the Judiciary, Foreign Affairs, Financial Services, Education and the Workforce, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP] H.R. 115 — A bill to amend chapter 8 of title 5, United States Code, to provide for en bloc consideration in resolutions of disapproval for ‘‘midnight rules’’, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3543 [31MY] H.R. 123 — A bill to authorize a pilot program under section 258 of the National Housing Act to establish an automated process for providing additional credit rating information for mortgagors and prospective mortgagors under certain mortgages; to the Committee on Financial Services. Cosponsors added, H693 [23FE] H.R. 124 — A bill to amend title XIX of the Social Security Act to provide incentives for education on the risk of renal medullary carcinoma in individuals who are receiving medical assistance under such title and who have sickle cell disease; to the Committee on Energy and Commerce. Cosponsors added, H693 [23FE] H.R. 126 — A bill to direct the Election Assistance Commission to carry out a pilot program under which the Commission shall provide funds to local educational agencies for initiatives to provide voter registration information to secondary school students in the 12th grade; to the Committee on House Administration. Cosponsors added, H1499 [22MR] H.R. 130 — A bill to amend title 18, United States Code, to provide additional aggravating factors for the imposition of the death penalty based on the status of the victim; to the Committee on the Judiciary. Cosponsors added, H693 [23FE], H1235 [19MR], H2629 [23AP], H3000 [8MY], H3205 [14MY], H3274 [15MY], H3330 [16MY] H.R. 131 — A bill to designate the West Indian manatee as an endangered species under the Endangered Species Act of 1973, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H3534 [28MY] H.R. 142 — A bill to repeal the restriction on the use of funds by the Internal Revenue Service to bring transparency to the political activity of certain nonprofit organizations; to the Committee on Ways and Means. Cosponsors added, H696 [26FE] H.R. 148 — A bill to amend title 18, United States Code, to prohibit the importation or transportation of child sex dolls, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H432 [5FE], H503 [6FE], H538 [7FE], H544 [9FE], H582 [13FE], H639 [14FE], H681 [15FE], H688 [20FE], H738 [28FE], H1094 [11MR], H1149 [12MR], H1189 [15MR] H.R. 149 — A bill to prohibit the disbursement of Federal funds to State and local governments that allow individuals who are not citizens of the United States to vote in any Federal, State, or local election; to the Committee on Oversight and Accountability. Cosponsors added, H1058 [8MR], H1354 [21MR], H2629 [23AP] H.R. 152 — A bill to amend the Internal Revenue Code of 1986 to remove silencers from the definition of firearms, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA], H273 [29JA] H.R. 163 — A bill to authorize certain appropriations for certain fiscal years for Operation Stonegarden, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP] H.R. 167 — A bill to amend the Federal Food, Drug, and Cosmetic Act to ensure patients have access to certain urgent-use compounded medications, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H253 [25JA], H1297 [20MR] H.R. 169 — A bill to direct the United States Postal Service to designate a single, unique ZIP Code for Fairlawn, Virginia, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H538 [7FE] H.R. 175 — A bill to amend title 18, United States Code, to prohibit abortion in cases where a fetal heartbeat is detectable; to the Committee on the Judiciary. Cosponsors added, H52 [10JA], H1149 [12MR], H2701 [29AP], H2938 [7MY], H4115 [18JN] H.R. 187 — A bill to ensure the payment of interest and principal of the debt of the United States; to the Committee on Ways and Means. Reported with amendment (H. Rept. 118–340), H12 [9JA] H.R. 191 — A bill to require the Secretary of Homeland Security to publish the number of known or suspected terrorists encountered attempting to enter the United States on a monthly basis, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H1235 [19MR] H.R. 192 — A bill to prohibit individuals who are not citizens of the United States from voting in elections in the District of Columbia; to the Committee on Oversight and Accountability. Providing for consideration (H. Res. 1243), H3396 [21MY] Debated, H3489 [23MY] Text, H3489 [23MY] Motion to recommit, H3496 [23MY] Passed House amended, H3509 [23MY] Motion to recommit rejected, H3510 [23MY] Message from the House, S3929 [3JN] Read the first time, S3934 [3JN] Read the second time. Placed on the calendar, S3937 [4JN] H.R. 195 — A bill to provide States with the authority to name post offices located in the State, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H2875 [6MY], H3007 [10MY] H.R. 196 — A bill to direct the Secretary of Veterans Affairs to modify the information technology systems of the Department of Veterans Affairs to provide for the automatic processing of claims for certain temporary disability ratings, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H253 [25JA] H.R. 205 — A bill to amend the Food and Nutrition Act of 2008 to provide for the reissuance to households supplemental nutrition assistance program benefits to replace benefits stolen by identity theft or typical skimming practices, and for other purposes; to the Committee on Agriculture. Cosponsors added, H823 [5MR], H2445 [16AP] H.R. 211 — A bill to provide for the abolition of certain United Nations groups, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H3485 [22MY] H.R. 214 — A bill to amend title 10, United States Code, to provide eligibility for TRICARE Select to veterans with service-connected disabilities, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR] H.R. 232 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to prioritize veterans court treatment programs that ensure equal access for racial and ethnic minorities and women, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H504 [6FE] H.R. 233 — A bill to amend the Revised Statutes to codify the defense of qualified immunity in the case of any action under section 1979, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H681 [15FE], H738 [28FE], H823 [5MR], H1094 [11MR], H1182 [13MR], H2291 [10AP], H2367 [12AP], H3007 [10MY], H3530 [24MY], H3726 [11JN], H4110 [14JN] H.R. 234 — A bill to amend title 38, United States Code, to provide a burial allowance for certain veterans who die at home while in receipt of hospice care furnished by the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, H1235 [19MR], H1499 [22MR], H2253 [9AP], H3274 [15MY], H3485 [22MY] H.R. 235 — A bill to provide for research and education with respect to triple-negative breast cancer, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1354 [21MR], H2121 [26MR] H.R. 236 — A bill to direct the Secretary of Veterans Affairs to designate a week as ‘‘Battle Buddy Check Week’’ for the purpose of outreach and education concerning peer wellness checks for veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H253 [25JA] H.R. 239 — A bill to amend the Help America Vote Act of 2002 to require States to provide for same day registration; to the Committee on House Administration. Cosponsors added, H317 [30JA], H504 [6FE], H681 [15FE], H1149 [12MR], H1499 [22MR] H.R. 251 — A bill to name the Department of Veterans Affairs outpatient clinic in Vallejo, California, as the ‘‘Delphine Metcalf-Foster VA Clinic’’; to the Committee on Veterans’ Affairs. Cosponsors added, H2253 [9AP], H2701 [29AP], H2836 [2MY] H.R. 253 — A bill to amend the Food and Nutrition Act of 2008 to transition the Commonwealth of Puerto Rico to the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H504 [6FE], H2318 [11AP], H2445 [16AP], H3205 [14MY], H3485 [22MY] H.R. 272 — A bill to amend title 31, United States Code, to authorize transportation for Government astronauts returning from space between their residence and various locations, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1182 [13MR] Reported (H. Rept. 118–483, part 1), H2873 [6MY] Rules suspended. Passed House, H2853 [6MY] Text, H2854 [6MY] Message from the House, S3501 [7MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3501 [7MY] H.R. 273 — A bill to amend chapter 303 of title 10, United States Code, to require the Secretary of each military department to identify promising research programs of the Small Business Innovation Research Program or Small Business Technology Transfer Program for inclusion in the future budgets and plans of the Department of Defense, and for other purposes; to the Committee on Armed Services. Cosponsors added, H738 [28FE] H.R. 279 — A bill to amend the Public Health Service Act to prohibit governmental discrimination against certain health care providers with certain objections to abortion; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA] H.R. 286 — A bill to amend the Public Health Service Act to authorize grants to health care providers to enhance the physical and cyber security of their facilities, personnel, and patients; to the Committee on Energy and Commerce. Cosponsors added, H390 [1FE] H.R. 292 — A bill to designate the facility of the United States Postal Service located at 24355 Creekside Road in Santa Clarita, California, as the ‘‘William L. Reynolds Post Office Building’’; to the Committee on Oversight and Accountability. Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Message from the House, S3129 [1MY] Examined and signed in the House, H2825 [1MY] Examined and signed in the Senate, S3129 [1MY] Presented to the President (May 1, 2024), H2994 [8MY] Approved [Public Law 118–52] (signed May 7, 2024) H.R. 301 — A bill to amend the State Department Basic Authorities Act of 1956 to authorize rewards regarding the identification of credible information regarding the origins of COVID-19, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H3485 [22MY] H.R. 303 — A bill to amend title 10, United States Code, to permit additional retired members of the Armed Forces who have a service-connected disability to receive both disability compensation from the Department of Veterans Affairs for their disability and either retired pay by reason of their years of military service or combat-related special compensation; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR], H3681 [7JN] H.R. 305 — A bill to authorize the Secretary of Education to carry out a grant program to assist local educational agencies with ensuring that each elementary and secondary school has at least one registered nurse on staff; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H544 [9FE] H.R. 307 — A bill to authorize additional monies to the Public Housing Capital Fund of the Department of Housing and Urban Development, and for other purposes; to the Committee on Financial Services. Cosponsors added, H365 [31JA], H639 [14FE], H738 [28FE], H1297 [20MR] H.R. 308 — A bill to amend section 6103 of title 5, United States Code, to establish Rosa Parks Day as a Federal holiday, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H133 [12JA], H390 [1FE] H.R. 309 — A bill to amend the Higher Education Act of 1965 to require institutions of higher education to provide notice to students receiving work-study assistance about potential eligibility for participation in the supplemental nutrition assistance program, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H544 [9FE], H2130 [29MR], H2253 [9AP], H3534 [28MY] H.R. 311 — A bill to amend the Congressional Budget Act of 1974 to provide that any estimate prepared by the Congressional Budget Office or the Joint Committee on Taxation shall include costs relating to servicing the public debt, and for other purposes; to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H544 [9FE], H582 [13FE], H639 [14FE], H681 [15FE] H.R. 314 — A bill to prohibit the removal of Cuba from the list of state sponsors of terrorism until Cuba satisfies certain conditions, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H1235 [19MR] H.R. 316 — A bill to direct certain heads of Federal agencies to develop a strategy to improve Federal investigations of organized retail crime, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA] H.R. 324 — A bill to amend the Internal Revenue Code of 1986 to expand the denial of deduction for certain excessive employee remuneration, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H317 [30JA], H1149 [12MR], H2291 [10AP], H4063 [13JN] H.R. 330 — A bill to amend title X of the Public Health Service Act to prohibit family planning grants from being awarded to any entity that performs abortions, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA] H.R. 333 — A bill to amend title 10, United States Code, to permit retired members of the Armed Forces who have a service-connected disability rated less than 50 percent to receive concurrent payment of both retired pay and veterans disability compensation, to extend eligibility for concurrent receipt to chapter 61 disability retirees with less than 20 years of service, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H52 [10JA], H432 [5FE], H538 [7FE], H3485 [22MY], H3656 [4JN] H.R. 335 — A bill to reduce the threshold for mandatory minimum penalties for fentanyl-related offenses under the Controlled Substances Act and the Controlled Substances Import and Export Act, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE] H.R. 336 — A bill to immediately resume construction of the border wall system along the international border between the United States and Mexico to secure the border, enforce the rule of law, and expend appropriated funds as mandated by Congress, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H639 [14FE], H2623 [20AP] H.R. 343 — A bill to prohibit United States assessed and voluntary contributions to the World Health Organization; to the Committee on Foreign Affairs. Cosponsors added, H544 [9FE] H.R. 345 — A bill to require Members of Congress and their spouses and dependent children to place certain assets into blind trusts, and for other purposes; to the Committee on House Administration. Cosponsors added, H366 [31JA], H504 [6FE], H538 [7FE], H3530 [24MY] H.R. 354 — A bill to amend title 18, United States Code, to improve the Law Enforcement Officer Safety Act and provisions relating to the carrying of concealed weapons by law enforcement officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H738 [28FE], H1000 [6MR], H1058 [8MR], H1189 [15MR], H2445 [16AP], H2938 [7MY], H3205 [14MY] Reported with amendment (H. Rept. 118–502), H3201 [14MY] Providing for consideration (H. Res. 1227), H3272 [15MY] Text, H3295 [16MY] Passed House amended, H3308 [16MY] Message from the House, S3778 [20MY] Referred to the Committee on the Judiciary, S3778 [20MY] H.R. 355 — A bill to protect law enforcement officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2771 [30AP] H.R. 361 — A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office to conduct an analysis of the impact on inflation from certain reconciliation legislation reported or submitted pursuant to reconciliation directives in a concurrent resolution on the budget; to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA] H.R. 371 — A bill to provide for a moratorium on Federal funding to Planned Parenthood Federation of America, Inc; to the Committee on Energy and Commerce. Cosponsors added, H2629 [23AP], H2636 [26AP] H.R. 374 — A bill to abolish the Bureau of Alcohol, Tobacco, Firearms and Explosives; to the Committee on the Judiciary. Cosponsors added, H3681 [7JN] H.R. 384 — A bill to prohibit the use or declaration of a public health emergency with respect to abortion, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2130 [29MR] H.R. 386 — A bill to provide that no Federal funds shall be used to alter, change, destroy, or remove, in whole or in part, any name, face, or other feature on the Mount Rushmore National Memorial; to the Committee on Natural Resources. Cosponsors added, H2938 [7MY] H.R. 392 — A bill to direct the Secretary of Defense to revise and update the Department of Defense regulations to allow trademarks owned or controlled by the Department of Defense to be combined with religious insignia on commercial identification tags (commonly known as ‘‘dog tags’’) and to be sold by lawful trademark licensees, and for other purposes; to the Committee on Armed Services. Cosponsors added, H3485 [22MY] H.R. 396 — A bill to regulate bump stocks in the same manner as machineguns; to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1235 [19MR], H3485 [22MY], H3543 [31MY], H4063 [13JN], H4110 [14JN], H4115 [18JN] H.R. 405 — A bill to amend the Public Health Service Act to provide for stockpiles to ensure that all Americans have access to generic drugs at risk of shortage, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA] H.R. 407 — A bill to prohibit the use of Federal funds to implement Executive order relating to reproductive health services; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA] H.R. 417 — A bill to provide a set-aside of funds for Indian populations under the health profession opportunity grant program under section 2008 of the Social Security Act, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H2142 [5AP] H.R. 419 — A bill to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses; to the Committee on Ways and Means. Cosponsors added, H273 [29JA] H.R. 427 — A bill to amend the Federal Food, Drug, and Cosmetic Act to prohibit the approval of new abortion drugs, to prohibit investigational use exemptions for abortion drugs, and to impose additional regulatory requirements with respect to previously approved abortion drugs, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA], H432 [5FE], H3975 [12JN] H.R. 431 — A bill to implement equal protection under the 14th article of amendment to the Constitution for the right to life of each born and preborn human person; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H133 [12JA], H189 [17JA], H242 [18JA], H247 [22JA], H273 [29JA], H504 [6FE], H544 [9FE], H1000 [6MR], H1189 [15MR], H2701 [29AP], H3274 [15MY], H3330 [16MY], H3399 [21MY], H4063 [13JN] Removal of cosponsors, H1035 [7MR] H.R. 435 — A bill to prohibit the award of Federal funds to an institution of higher education that hosts or is affiliated with a student-based service site that provides abortion drugs or abortions to students of the institution or to employees of the institution or site, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1235 [19MR], H1297 [20MR], H2291 [10AP], H2503 [17AP], H2875 [6MY], H4115 [18JN] H.R. 443 — A bill to direct the Secretary of Labor to train certain employees of Department of Labor how to effectively detect and assist law enforcement in preventing human trafficking during the course of their official duties, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H247 [22JA] Reported with amendment (H. Rept. 118–355), H251 [25JA] Text, H407 [5FE] Rules suspended. Passed House amended, H409 [5FE] Message from the House, S420 [6FE] Referred to the Committee on Health, Education, and Labor, S420 [6FE] H.R. 445 — A bill to establish within the Department of Health and Human Services an Ombuds for Reproductive and Sexual Health; to the Committee on Energy and Commerce. Cosponsors added, H544 [9FE] H.R. 450 — A bill to amend the Internal Revenue Code of 1986 to repeal the National Firearms Act; to the Committee on Ways and Means. Cosponsors added, H253 [25JA], H3543 [31MY] H.R. 451 — A bill to amend title 18, United States Code, to criminalize abuse with respect to assisted reproductive technology, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H273 [29JA], H538 [7FE], H681 [15FE], H693 [23FE], H2367 [12AP], H2831 [1MY] H.R. 466 — A bill to amend the Help America Vote Act of 2002 to require voting systems used in elections for Federal office to produce a voter-verified paper ballot of each vote cast on the system, and for other purposes; to the Committee on House Administration, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP] H.R. 467 — A bill to amend the Controlled Substances Act with respect to the scheduling of fentanyl-related substances, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Objection is heard to request for consideration, S3695 [15MY] H.R. 468 — A bill to amend title XI of the Social Security Act to extend beyond the COVID-19 emergency period, with certain modifications, the Emergency Declaration Blanket Waiver relating to training and certification of nurse aides to alleviate burdens imposed on staff of skilled nursing facilities and nursing facilities; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA] H.R. 470 — A bill to amend the Outer Continental Shelf Lands Act to permanently prohibit the conduct of offshore drilling on the outer Continental Shelf off the coast of California, Oregon, and Washington; to the Committee on Natural Resources. Cosponsors added, H738 [28FE] H.R. 472 — A bill to require the Attorney General to propose a program for making treatment for post-traumatic stress disorder and acute stress disorder available to public safety officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1034 [7MR], H1094 [11MR], H2938 [7MY], H3399 [21MY], H3526 [23MY], H3681 [7JN] H.R. 475 — A bill to require the Attorney General to make competitive grants to State, Tribal, and local governments to establish and maintain witness protection and assistance programs; to the Committee on the Judiciary. Cosponsors added, H2253 [9AP] H.R. 485 — A bill to amend title XI of the Social Security Act to prohibit the use of quality-adjusted life years and similar measures in coverage and payment determinations under Federal health care programs; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Providing for consideration (H. Res. 996), H430 [5FE] Debated, H509 [7FE] Amendments, H512, H516 [7FE] Text, H515 [7FE] Motion to recommit rejected, H518 [7FE] Passed House, H519 [7FE] Message from the House, S491 [8FE] Referred to the Committee on Finance, S491 [8FE] H.R. 491 — A bill to amend title 38, United States Code, to adjust the rate of per diem payments provided by the Secretary of Veterans Affairs to grantees that provide services to homeless veterans; to the Committee on Veterans’ Affairs. Cosponsors added, H148 [16JA], H317 [30JA], H582 [13FE], H693 [23FE], H774 [29FE], H1000 [6MR], H1058 [8MR], H1499 [22MR] H.R. 498 — A bill to amend title V of the Public Health Service Act to secure the suicide prevention lifeline from cybersecurity incidents, and for other purposes; to the Committee on Energy and Commerce. Rules suspended. Passed House amended, H797 [5MR] Text, H797 [5MR] Message from the House, S2237 [6MR] Referred to the Committee on Health, Education, Labor, and Pensions, S2237 [6MR] H.R. 503 — A bill to impose sanctions with respect to TikTok, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Removal of cosponsors, H318 [30JA] H.R. 506 — A bill to designate the Russian-based mercenary Wagner Group as a foreign terrorist organization, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H432 [5FE] H.R. 521 — A bill to guarantee the right of individuals to receive Social Security benefits under title II of the Social Security Act in full with an accurate annual cost-of-living adjustment; to the Committee on Ways and Means. Cosponsors added, H390 [1FE], H2831 [1MY] H.R. 522 — A bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to provide or assist in providing a vehicle adapted for operation by disabled individuals to certain eligible persons, to pay expenses associated with the delivery of such vehicle, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H133 [12JA], H148 [16JA] Reported with amendment (H. Rept. 118–354), H251 [25JA] H.R. 524 — A bill to amend the Coastal Barrier Resources Act to create an exemption for certain shoreline borrow sites; to the Committee on Natural Resources. Cosponsors added, H108 [11JA] Reported with amendment (H. Rept. 118–421), H1146 [12MR] Rules suspended. Passed House amended, H2296 [11AP] Text, H2296 [11AP] Message from the House, S2733 [15AP] H.R. 525 — A bill to amend the Carl D. Perkins Career and Technical Education Act of 2006 to give the Department of Education the authority to award competitive grants to eligible entities to establish, expand, or support school-based mentoring programs to assist at-risk students in middle school and high school in developing cognitive and social-emotional skills to prepare them for success in high school, postsecondary education, and the workforce; to the Committee on Education and the Workforce. Cosponsors added, H317 [30JA], H582 [13FE], H2503 [17AP] H.R. 529 — A bill to extend the customs waters of the United States from 12 nautical miles to 24 nautical miles from the baselines of the United States, consistent with Presidential Proclamation 7219; to the Committee on Ways and Means. Cosponsors added, H52 [10JA] Reported with amendment (H. Rept. 118–436), H2134 [2AP] Reported from the Committee on Ways and Means (H. Rept. 118–436, part 2) (supplemental), H2140 [5AP] Providing for consideration (H. Res. 1125), H2288 [10AP] Providing for consideration (H. Res. 1137), H2366 [12AP] Text, H2689 [29AP] Passed House amended, H2712 [30AP] Message from the House, S3129 [1MY] H.R. 531 — A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for charitable donations to nonprofit organizations providing education scholarships to qualified elementary and secondary students; to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA], H366 [31JA], H544 [9FE], H774 [29FE], H2142 [5AP], H3205 [14MY] H.R. 532 — A bill to designate the Federal building and United States courthouse located at 600 East First Street in Rome, Georgia, as the ‘‘Harold L. Murphy Federal Building and United States Courthouse’’; to the Committee on Transportation and Infrastructure. Rules suspended. Passed House, H1070 [11MR] Text, H1070 [11MR] Message from the House, S2364 [12MR] Referred to the Committee on Environment and Public Works, S2364 [12MR] H.R. 533 — A bill to amend the Tibetan Policy Act of 2002 to modify certain provisions of that Act; to the Committee on Foreign Affairs. Cosponsors added, H52 [10JA], H582 [13FE] Text, H555 [13FE] Rules suspended. Passed House amended, H661 [15FE] Message from the House, S983 [26FE] Referred to the Committee on Foreign Relations, S983 [26FE] H.R. 537 — A bill to award a Congressional Gold Medal to 60 diplomats, in recognition of their bravery and heroism during the Holocaust; to the Committee on Financial Services. Cosponsors added, H14 [9JA], H52 [10JA], H108 [11JA], H133 [12JA], H189 [17JA], H242 [18JA], H247 [22JA], H253 [25JA], H273 [29JA], H317 [30JA], H390 [1FE], H504 [6FE], H582 [13FE], H639 [14FE], H681 [15FE], H688 [20FE], H696 [26FE], H1000 [6MR], H1149 [12MR], H1189 [15MR], H1297 [20MR], H1499 [22MR], H2136 [2AP], H2253 [9AP], H2367 [12AP], H2398 [15AP], H2629 [23AP], H2771 [30AP], H2831 [1MY], H2875 [6MY], H3007 [10MY], H3274 [15MY], H3485 [22MY], H3582 [3JN], H3726 [11JN] Rules suspended. Passed House amended, H3695 [11JN] Text, H3695 [11JN] Message from the House, S4049 [12JN] Referred to the Committee on Banking, Housing, and Urban Affairs, S4049 [12JN] H.R. 539 — A bill to amend the Internal Revenue Code of 1986 to expand school choice opportunities for children of active duty members of the Armed Forces of the United States; to the Committee on Ways and Means. Cosponsors added, H1094 [11MR] H.R. 540 — A bill to require the Secretary of the Treasury to pursue more equitable treatment of Taiwan at the international financial institutions, and for other purposes; to the Committee on Financial Services. Text, H31 [10JA] Rules suspended. Passed House amended, H125 [12JA] Message from the House, S121 [16JA] Referred to the Committee on Foreign Relations, S121 [16JA] H.R. 543 — A bill to amend title 38, United States Code, to improve the reimbursement of continuing professional education expenses for health care professionals of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, H681 [15FE], H738 [28FE], H2367 [12AP] H.R. 544 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to provide coverage for infertility treatment and standard fertility preservation services, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H738 [28FE], H1499 [22MR], H2121 [26MR], H2367 [12AP], H3274 [15MY] H.R. 547 — A bill to amend title XIX of the Social Security Act to expand access to home and community-based services (HCBS) under Medicaid, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA], H2121 [26MR] H.R. 549 — A bill to amend title II of the Social Security Act to eliminate the waiting periods for disability insurance benefits and Medicare coverage for individuals with metastatic breast cancer, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H273 [29JA], H774 [29FE], H1235 [19MR], H2938 [7MY], H3000 [8MY], H3274 [15MY], H3358 [17MY], H3399 [21MY], H3534 [28MY] H.R. 552 — A bill to prohibit United States contributions to the United Nations International Organization for Migration (IOM), the United Nations High Commissioner for Refugees (UNHCR), and the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H14 [9JA], H273 [29JA], H639 [14FE], H823 [5MR], H2629 [23AP] H.R. 555 — A bill to amend the Defense Production Act of 1950 to ensure the supply of certain medical materials essential to national defense, and for other purposes; to the Committee on Financial Services. Cosponsors added, H2142 [5AP] Reported with amendment (H. Rept. 118–523), H3520 [23MY] H.R. 559 — A bill to make improvements with respect to the pricing of cattle in the United States, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2938 [7MY] H.R. 561 — A bill to ensure affordable abortion coverage and care for every person, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Natural Resources, Armed Services, Veterans’ Affairs, the Judiciary, Oversight and Accountability, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H2130 [29MR] H.R. 562 — A bill to direct the Secretary of Veterans Affairs to permit Members of Congress to use facilities of the Department of Veterans Affairs for the purposes of meeting with constituents, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H189 [17JA], H2130 [29MR] H.R. 565 — A bill to require the Director of the United States Fish and Wildlife Service to enter into an agreement with the National Fish and Wildlife Foundation to establish the Community Resilience and Restoration Fund; to the Committee on Natural Resources. Cosponsors added, H3726 [11JN] H.R. 567 — A bill to expedite certain activities related to salvage operations and reforestation activities on National Forest System lands or public lands in response to catastrophic events, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY] H.R. 574 — A bill to prohibit the provision of Federal funds to the National Institutes of Health for the purposes of conducting biological, medical, or behavioral research involving the testing of dogs; to the Committee on Energy and Commerce. Cosponsors added, H52 [10JA] H.R. 592 — A bill to prohibit the Secretary of Veterans Affairs from carrying out certain activities under the Electronic Health Record Modernization Program until certification of system improvements and facility readiness; to the Committee on Veterans’ Affairs. Cosponsors added, H1034 [7MR] H.R. 593 — A bill to rename the Department of Veterans Affairs community-based outpatient clinic in Hinesville, Georgia, as the ‘‘John Gibson, Dan James, William Sapp, and Frankie Smiley VA Clinic’’; to the Committee on Veterans’ Affairs. Committee discharged. Passed Senate, S3367 [2MY] Message from the Senate (received May 3, 2024), H2840 [6MY] Message from the House (received May 10, 2024, during adjournment), S3683 [14MY] Examined and signed in the House, H3001 [10MY] Examined and signed in the Senate (May 10, 2024, during adjournment), S3683 [14MY] Approved [Public Law 118–61] (signed May 13, 2024), H3206 [14MY] H.R. 594 — A bill to amend title 39, United States Code, to modify procedures for negotiating pay and benefits of supervisory and other managerial personnel of the United States Postal Service, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H247 [22JA], H774 [29FE], H1034 [7MR], H1182 [13MR], H1354 [21MR], H2130 [29MR], H2367 [12AP], H2445 [16AP], H2503 [17AP], H3274 [15MY], H3399 [21MY], H3543 [31MY] H.R. 595 — A bill to extend the right of appeal to the Merit Systems Protection Board to certain employees of the United States Postal Service; to the Committee on Oversight and Accountability. Cosponsors added, H14 [9JA], H247 [22JA], H1034 [7MR], H1182 [13MR], H1354 [21MR], H2130 [29MR], H2253 [9AP], H2445 [16AP], H3274 [15MY], H3399 [21MY], H3543 [31MY], H4063 [13JN] H.R. 598 — A bill to ensure 100 percent renewable electricity, zero emission vehicles, and regenerative agriculture by 2030 to address global warming caused by human activity; to the Committee on Agriculture, and in addition to the Committees on Ways and Means, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3205 [14MY] H.R. 599 — A bill to designate the facility of the United States Postal Service located at 3500 West 6th Street, Suite 103 in Los Angeles, California, as the ‘‘Dosan Ahn Chang Ho Post Office’’; to the Committee on Oversight and Accountability. Text, H264 [29JA] Rules suspended. Passed House amended, H358 [31JA] Message from the House, S342 [1FE] Referred to the Committee on Homeland Security and Governmental Affairs, S342 [1FE] H.R. 603 — A bill to require a study on Holocaust education efforts of States, local educational agencies, and public elementary and secondary schools, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H133 [12JA], H242 [18JA], H273 [29JA], H317 [30JA], H366 [31JA], H432 [5FE], H504 [6FE], H582 [13FE], H681 [15FE], H1189 [15MR], H3205 [14MY] H.R. 605 — A bill to amend the Special Drawing Rights Act in order to strengthen congressional oversight with respect to allocations of Special Drawing Rights by the International Monetary Fund, and to prohibit such allocations for perpetrators of genocide and state sponsors of terrorism without congressional authorization, and for other purposes; to the Committee on Financial Services. Cosponsors added, H253 [25JA] H.R. 607 — A bill to direct the Secretary of Transportation to revise regulations relating to child restraint systems, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA], H2136 [2AP], H2875 [6MY] H.R. 615 — A bill to prohibit the Secretary of the Interior and the Secretary of Agriculture from prohibiting the use of lead ammunition or tackle on certain Federal land or water under the jurisdiction of the Secretary of the Interior and the Secretary of Agriculture, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported from the Committee on Natural Resources (H. Rept. 118–203, part 2) (supplemental), H2699 [29AP] Providing for consideration (H. Res. 1173), H2699 [29AP] Debated, H2735 [30AP] Text, H2735 [30AP] Motion to recommit, H2740 [30AP] Motion to recommit rejected, H2750 [30AP] Passed House amended, H2751 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Environment and Public Works, S3130 [1MY] H.R. 618 — A bill to amend chapter 81 of title 5, United States Code, to cover, for purposes of workers’ compensation under such chapter, services by physician assistants and nurse practitioners provided to injured Federal workers, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H253 [25JA], H273 [29JA], H366 [31JA], H639 [14FE], H1058 [8MR], H1499 [22MR], H2522 [18AP], H2623 [20AP], H3000 [8MY], H3656 [4JN], H4115 [18JN] H.R. 619 — A bill to extend the National Alzheimer’s Project; to the Committee on Energy and Commerce. Cosponsors added, H108 [11JA], H189 [17JA], H273 [29JA], H366 [31JA], H390 [1FE], H538 [7FE], H544 [9FE], H582 [13FE], H774 [29FE], H1000 [6MR], H1058 [8MR], H1354 [21MR], H2136 [2AP], H2253 [9AP], H2291 [10AP], H2367 [12AP], H2522 [18AP], H2701 [29AP], H2831 [1MY], H2938 [7MY], H3205 [14MY] Reported with amendment (H. Rept. 118–526), H3530 [24MY] H.R. 620 — A bill to require an annual budget estimate for the initiatives of the National Institutes of Health pursuant to reports and recommendations made under the National Alzheimer’s Project Act; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H242 [18JA], H273 [29JA], H538 [7FE], H544 [9FE], H582 [13FE], H738 [28FE], H781 [1MR], H823 [5MR], H1034 [7MR], H1058 [8MR], H2367 [12AP], H2623 [20AP], H2771 [30AP], H3330 [16MY], H3358 [17MY], H3543 [31MY] Reported (H. Rept. 118–531), H3541 [31MY] H.R. 621 — A bill to prevent the theft of catalytic converters and other precious metal car parts, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP], H3530 [24MY] H.R. 623 — A bill to amend the Public Health Service Act to provide for the implementation of curricula for training students, teachers, and school personnel to understand, recognize, prevent, and respond to signs of human trafficking and exploitation in children and youth, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H52 [10JA] H.R. 625 — A bill to regulate large capacity ammunition feeding devices; to the Committee on the Judiciary. Cosponsors added, H108 [11JA], H133 [12JA], H317 [30JA], H688 [20FE], H2253 [9AP], H3399 [21MY] H.R. 630 — A bill to amend the Indian Health Care Improvement Act to establish an urban Indian organization confer policy for the Department of Health and Human Services; to the Committee on Natural Resources, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1189 [15MR] H.R. 631 — A bill to allow a State to submit a declaration of intent to the Secretary of Education to combine certain funds to improve the academic achievement of students; to the Committee on Education and the Workforce. Cosponsors added, H3399 [21MY] H.R. 632 — A bill to amend title XIX of the Social Security Act and Public Health Service Act to improve the reporting of abortion data to the Centers for Disease Control and Prevention, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA] H.R. 645 — A bill to amend title 38, United States Code, to permanently authorize the use of certain funds to improve flexibility in the provision of assistance to homeless veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H52 [10JA] H.R. 648 — A bill to amend the Agricultural Trade Act of 1978 to extend and expand the Market Access Program and the Foreign Market Development Cooperator Program; to the Committee on Agriculture. Cosponsors added, H2121 [26MR], H2771 [30AP], H3274 [15MY] H.R. 652 — A bill to provide grants to reduce the amount of food waste, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA] H.R. 653 — A bill to amend the Elementary and Secondary Education Act of 1965 to award grants to eligible entities to establish, expand, or support school-based mentoring programs to assist at-risk middle school students with the transition from middle school to high school; to the Committee on Education and the Workforce. Cosponsors added, H432 [5FE], H639 [14FE] H.R. 654 — A bill to amend the Higher Education Act of 1965, to add a work-study program for off-campus community service at selected after-school activities, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE], H639 [14FE] H.R. 655 — A bill to amend the Internal Revenue Code of 1986 to provide a special rule for certain casualty losses of uncut timber; to the Committee on Ways and Means. Cosponsors added, H639 [14FE], H1189 [15MR], H3526 [23MY] H.R. 660 — A bill to amend chapter 44 of title 18, United States Code, to require the safe storage of firearms, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H3399 [21MY], H4063 [13JN] H.R. 661 — A bill to require U.S. Immigration and Customs Enforcement to take into custody certain aliens who have been charged in the United States with a crime that resulted in the death or serious bodily injury of another person, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H273 [29JA], H544 [9FE], H738 [28FE], H774 [29FE], H823 [5MR] Reported with amendment (H. Rept. 118–442), H2140 [5AP] H.R. 667 — A bill to provide for a 3-day waiting period before a person may receive a handgun, with exceptions; to the Committee on the Judiciary. Cosponsors added, H2318 [11AP], H3726 [11JN] H.R. 669 — A bill to restrict the first-use strike of nuclear weapons; to the Committee on Foreign Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA], H639 [14FE], H693 [23FE], H696 [26FE], H738 [28FE], H1297 [20MR], H2701 [29AP] H.R. 670 — A bill to amend title IV of the Public Health Service Act to direct the Secretary of Health and Human Services to establish a clearinghouse on intellectual disabilities, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3726 [11JN] H.R. 674 — A bill to codify the authority of the Secretary of Agriculture and the Secretary of the Interior to conduct certain landscape-scale forest restoration projects, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3274 [15MY] H.R. 678 — A bill to eliminate the position of the Chief Diversity Officer of the Department of Defense, and for other purposes; to the Committee on Armed Services. Cosponsors added, H1000 [6MR] H.R. 681 — A bill to reauthorize the READ Act; to the Committee on Foreign Affairs. Cosponsors added, H14 [9JA], H273 [29JA], H738 [28FE], H774 [29FE], H2121 [26MR], H3274 [15MY], H3543 [31MY], H3675 [5JN], H4063 [13JN] H.R. 683 — A bill to amend the Defense Production Act of 1950 to include the Secretary of Agriculture on the Committee on Foreign Investment in the United States and require review of certain agricultural transactions, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA] H.R. 694 — A bill to amend the Family and Medical Leave Act to expand employees eligible for leave and employers subject to leave requirements, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on House Administration, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H390 [1FE], H1000 [6MR], H1094 [11MR], H2291 [10AP], H2398 [15AP], H2445 [16AP], H2559 [19AP], H2701 [29AP], H3000 [8MY], H3205 [14MY], H3274 [15MY], H3399 [21MY], H3582 [3JN], H3681 [7JN] H.R. 696 — A bill to direct the United States Postal Service to designate a single, unique ZIP Code for Eastvale, California; to the Committee on Oversight and Accountability. Cosponsors added, H189 [17JA] H.R. 698 — A bill to regulate assault weapons, to ensure that the right to keep and bear arms is not unlimited, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H3205 [14MY], H4063 [13JN] H.R. 700 — A bill to treat certain liquidations of new motor vehicle inventory as qualified liquidations of LIFO inventory for purposes of the Internal Revenue Code of 1986; to the Committee on Ways and Means. Cosponsors added, H52 [10JA], H504 [6FE], H688 [20FE], H2142 [5AP] H.R. 702 — A bill to protect consumers from price gouging of residential rental and sale prices, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H696 [26FE], H1182 [13MR], H3975 [12JN] H.R. 703 — A bill to authorize the Secretary of Education to award grants to eligible entities to carry out educational programs that include the history of peoples of African descent in the settling and founding of America, the economic and political environments that led to the development, institutionalization, and abolition of slavery and its impact on all Americans, the exploration and expansion of America, impact on and contributions to the development and enhancement of American life, United States history, literature, the economy, politics, body of laws, and culture, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H738 [28FE], H1499 [22MR] H.R. 704 — A bill to amend title XVIII of the Social Security Act to permit nurse practitioners and physician assistants to satisfy the documentation requirement under the Medicare program for coverage of certain shoes for individuals with diabetes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H390 [1FE], H681 [15FE], H1149 [12MR], H1354 [21MR], H2318 [11AP] H.R. 705 — A bill to amend title 38, United States Code, to prohibit the Secretary of Veterans Affairs from transmitting certain information to the Department of Justice for use by the national instant criminal background check system; to the Committee on Veterans’ Affairs. Cosponsors added, H738 [28FE], H823 [5MR], H2398 [15AP], H2629 [23AP], H3656 [4JN] H.R. 706 — A bill to amend the Food and Nutrition Act of 2008 to allow households with children with chronic medical conditions to deduct allowable medical expenses incurred by such household member that exceeds $35 per month; to the Committee on Agriculture. Cosponsors added, H2445 [16AP] H.R. 709 — A bill to posthumously award a Congressional gold medal to Muhammad Ali, in recognition of his contributions to the Nation; to the Committee on Financial Services. Cosponsors added, H52 [10JA], H189 [17JA], H317 [30JA], H781 [1MR], H823 [5MR], H1297 [20MR], H3205 [14MY], H3399 [21MY] H.R. 713 — A bill to provide enhanced capabilities to combat transnational criminal cartels, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Foreign Affairs, Financial Services, Ways and Means, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE] H.R. 715 — A bill to require a background check for every firearm sale; to the Committee on the Judiciary. Cosponsors added, H3007 [10MY], H4063 [13JN] H.R. 716 — A bill to provide for cost-of-living increases for certain Federal benefits programs based on increases in the Consumer Price Index for the elderly; to the Committee on Ways and Means, and in addition to the Committees on Veterans’ Affairs, Oversight and Accountability, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1499 [22MR], H3007 [10MY], H3399 [21MY] H.R. 720 — A bill to repeal the wage rate requirements commonly known as the Davis-Bacon Act; to the Committee on Education and the Workforce. Cosponsors added, H3330 [16MY] H.R. 723 — A bill to amend the Food and Nutrition Act of 2008 to require States to include a photograph on electronic benefit cards issued to provide supplemental nutrition assistance program benefits; to the Committee on Agriculture. Cosponsors added, H3399 [21MY] H.R. 724 — A bill to amend Public Law 115-97 (commonly known as the Tax Cuts and Jobs Act) to repeal the Arctic National Wildlife Refuge oil and gas program, and to preserve the Arctic coastal plain of the Arctic National Wildlife Refuge, Alaska, as wilderness in recognition of its extraordinary natural ecosystems and for the permanent good of present and future generations of Americans; to the Committee on Natural Resources. Cosponsors added, H273 [29JA], H504 [6FE], H688 [20FE] H.R. 726 — A bill to amend the Wild Free-Roaming Horses and Burros Act to direct the Secretary of the Interior to implement fertility controls to manage populations of wild free-roaming horses and burros, and to encourage training opportunities for military veterans to assist in range management activities, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H52 [10JA], H2136 [2AP] H.R. 727 — A bill to establish a National Council on African American History and Culture within the National Endowment for the Humanities, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H253 [25JA], H273 [29JA], H432 [5FE], H582 [13FE], H693 [23FE] H.R. 729 — A bill to require the Secretary of the Interior to remove the Emancipation Memorial from Lincoln Park in the District of Columbia, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H3582 [3JN] H.R. 732 — A bill to rename the program under part C of title XVIII of the Social Security Act, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H390 [1FE], H1297 [20MR] H.R. 735 — A bill to increase the benefits guaranteed in connection with certain pension plans, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3007 [10MY] H.R. 737 — A bill to establish the Ralph David Abernathy, Sr. National Historic Site, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H14 [9JA], H544 [9FE], H823 [5MR] H.R. 743 — A bill to amend title 18, United States Code, to punish criminal offenses targeting law enforcement officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H242 [18JA], H253 [25JA], H273 [29JA], H366 [31JA], H639 [14FE], H681 [15FE], H774 [29FE], H1000 [6MR], H1034 [7MR], H1058 [8MR], H1149 [12MR], H1297 [20MR], H2629 [23AP], H2938 [7MY], H3274 [15MY] H.R. 744 — A bill to address behavioral health and well-being among education professionals and other school staff; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP], H3681 [7JN] H.R. 750 — A bill to require any person that sells or distributes a mobile application that the Federal Government has prohibited for Government-owned devices to disclose that fact to any individual who downloads, updates, or otherwise uses such application, and for other purposes; to the Committee on Energy and Commerce. Reported with amendment (H. Rept. 118–530), H3541 [31MY] H.R. 751 — A bill to amend title XVIII of the Social Security Act to require as a condition of satisfying the definition of an approved medical residency training program for purposes of payments under Medicare for costs related to graduate medical education for hospitals operating such a program to submit information to encourage more equitable treatment of osteopathic and allopathic candidates in the residency application and review process, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H52 [10JA], H189 [17JA] H.R. 755 — A bill to encourage the development of specialized foster care programs designed specifically for large sibling groups, sibling groups with a wide age range, and sibling groups with complex needs; to the Committee on Education and the Workforce. Cosponsors added, H3530 [24MY] H.R. 756 — A bill to amend title IV of the Social Security Act to establish a demonstration grant program to provide emergency relief to foster youth and improve pre-placement services offered by foster care stabilization agencies, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H2875 [6MY], H3485 [22MY], H3530 [24MY] H.R. 763 — A bill to establish an Office of Manufacturing Security and Resilience in the Department of Commerce, to provide for a Department of Commerce assessment and strategy to counter threats to critical supply chains, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1354 [21MR] H.R. 764 — A bill to require the Secretary of the Interior to reissue regulations removing the gray wolf from the list of endangered and threatened wildlife under the Endangered Species Act of 1973; to the Committee on Natural Resources. Providing for consideration (H. Res. 1173), H2699 [29AP] Debated, H2728 [30AP] Text, H2729 [30AP] Motion to recommit, H2735 [30AP] Motion to recommit rejected, H2751 [30AP] Passed House, H2752 [30AP] Message from the House, S3129 [1MY] H.R. 766 — A bill to amend the Congressional Budget Act of 1974 respecting the scoring of preventive health savings; to the Committee on the Budget. Cosponsors added, H52 [10JA], H189 [17JA], H242 [18JA], H366 [31JA], H432 [5FE], H639 [14FE], H774 [29FE], H823 [5MR], H1094 [11MR], H1149 [12MR] Reported with amendment (H. Rept. 118–426), H1187 [15MR] Debated, H1204 [19MR] Text, H1204 [19MR] Rules suspended. Passed House amended, H1209 [19MR] Message from the House, S2465 [20MR] H.R. 767 — A bill to preserve access to abortion medications; to the Committee on Energy and Commerce. Cosponsors added, H2253 [9AP], H3205 [14MY] H.R. 770 — A bill to establish eligibility requirements for education support professionals and school support staff under the Family and Medical Leave Act of 1993, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Oversight and Accountability, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H639 [14FE], H3399 [21MY] H.R. 776 — A bill to amend section 524(c) of title 18, United States Code, to use lawfully forfeited drug seizures to increase border security; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 777 — A bill to amend the Immigration and Nationality Act to penalize aliens who overstay their visas, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 778 — A bill to amend the Immigration and Nationality Act to facilitate the removal of aliens identified in the terrorist screening database, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 779 — A bill to amend title II of the Social Security Act to exclude from creditable wages and self-employment income wages earned for services by aliens illegally performed in the United States and self-employment income derived from a trade or business illegally conducted in the United States; to the Committee on Ways and Means. Cosponsors added, H2629 [23AP], H3205 [14MY], H3274 [15MY] H.R. 780 — A bill to prohibit the receipt of Federal financial assistance by sanctuary cities, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H781 [1MR] H.R. 782 — A bill to prohibit the interference, under color of State law, with the provision of interstate abortion services, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H366 [31JA], H1149 [12MR], H3534 [28MY], H3675 [5JN] H.R. 784 — A bill to require any person that maintains an internet website or that sells or distributes a mobile application that is owned, wholly or partially, by the Chinese Communist Party or by a non-state-owned entity located in the People’s Republic of China, to disclose that fact to any individual who downloads or otherwise uses such website or application; to the Committee on Energy and Commerce. Reported with amendments (H. Rept. 118–536), H3654 [4JN] H.R. 788 — A bill to limit donations made pursuant to settlement agreements to which the United States is a party, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA] Reported with amendment (H. Rept. 118–339), H12 [9JA] Providing for consideration (H. Res. 947), H12 [9JA] Debated, H71 [11JA] Text, H71 [11JA] Amendments, H77 [11JA] Motion to recommit considered, H77 [11JA] Motion to recommit rejected, H83 [11JA] Passed House amended, H84 [11JA] Message from the House, S121 [16JA] Referred to the Committee on the Judiciary, S121 [16JA] H.R. 789 — A bill to amend the Family and Medical Leave Act of 1993 and title 5, United States Code, to permit leave to care for a domestic partner, parent-in-law, or adult child, or another related individual, who has a serious health condition, and to allow employees to take, as additional leave, parental involvement and family wellness leave to participate in or attend their children’s and grandchildren’s educational and extracurricular activities or meet family care needs; to the Committee on Education and the Workforce, and in addition to the Committees on Oversight and Accountability, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA], H693 [23FE], H738 [28FE], H823 [5MR], H1094 [11MR], H2445 [16AP], H2503 [17AP], H2559 [19AP], H2636 [26AP], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3330 [16MY], H3485 [22MY], H3543 [31MY], H3582 [3JN], H4063 [13JN] H.R. 791 — A bill to amend title 17, United States Code, to provide fair treatment of radio stations and artists for the use of sound recordings, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H3205 [14MY] H.R. 793 — A bill to extend Federal Pell Grant eligibility of certain short-term programs; to the Committee on Education and the Workforce. Cosponsors added, H52 [10JA], H696 [26FE] H.R. 795 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to authorize the use of grant amounts for providing training and resources for first responders on the use of containment devices to prevent secondary exposure to fentanyl and other potentially lethal substances, and purchasing such containment devices for use by first responders; to the Committee on the Judiciary. Cosponsors added, H253 [25JA], H1034 [7MR], H2121 [26MR] H.R. 797 — A bill to place a moratorium on large concentrated animal feeding operations, to strengthen the Packers and Stockyards Act, 1921, to require country of origin labeling on beef, pork, and dairy products, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H52 [10JA], H2875 [6MY] H.R. 798 — A bill to improve protections for meatpacking workers, and for other purposes; to the Committee on Agriculture, and in addition to the Committees on Education and the Workforce, Oversight and Accountability, House Administration, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA], H366 [31JA], H693 [23FE], H774 [29FE], H1034 [7MR], H1058 [8MR], H1094 [11MR], H2318 [11AP], H2522 [18AP], H2875 [6MY], H3274 [15MY], H3399 [21MY], H3526 [23MY], H3656 [4JN] H.R. 802 — A bill to amend the CARES Act to remove a requirement on lessors to provide notice to vacate, and for other purposes; to the Committee on Financial Services. Cosponsors added, H52 [10JA], H253 [25JA], H639 [14FE], H781 [1MR], H1189 [15MR], H1235 [19MR], H1297 [20MR], H2136 [2AP], H2367 [12AP], H3681 [7JN] H.R. 803 — A bill to direct certain financial regulators to exclude representatives of the Peoples Republic of China from certain banking organizations upon notice of certain threats or danger, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Text, H33 [10JA] Rules suspended. Passed House amended, H125 [12JA] Message from the House, S121 [16JA] Referred to the Committee on Foreign Relations, S121 [16JA] H.R. 807 — A bill to require the Secretary of the Treasury to mint coins in commemoration of the invaluable service that working dogs provide to society; to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H52 [10JA], H108 [11JA], H148 [16JA], H253 [25JA], H273 [29JA], H317 [30JA], H366 [31JA], H432 [5FE], H538 [7FE], H544 [9FE], H582 [13FE], H639 [14FE], H681 [15FE], H823 [5MR], H1000 [6MR], H1058 [8MR], H1182 [13MR], H1235 [19MR], H1297 [20MR], H1354 [21MR], H1499 [22MR], H2253 [9AP], H2291 [10AP], H2318 [11AP], H2398 [15AP], H2445 [16AP], H2522 [18AP], H2701 [29AP], H2771 [30AP], H2875 [6MY], H3007 [10MY] Rules suspended. Passed House amended, H3374 [21MY] Text, H3374 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on Banking, Housing, and Urban Affairs, S3849 [22MY] H.R. 808 — A bill to amend title 38, United States Code, to improve the assignment of patient advocates at medical facilities of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, H189 [17JA] H.R. 809 — A bill to prohibit certain persons from purchasing agricultural real estate in the United States, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H688 [20FE], H3205 [14MY] H.R. 814 — A bill to protect benefits provided under Social Security, Medicare, and any other program of benefits administered by the Social Security Administration or the Centers for Medicare and Medicaid Services; to the Committee on Rules. Cosponsors added, H390 [1FE] H.R. 815 — A bill to amend title 38, United States Code, to make certain improvements relating to the eligibility of veterans to receive reimbursement for emergency treatment furnished through the Veterans Community Care program, and for other purposes; to the Committee on Veterans’ Affairs. Motion to proceed considered, S354 [5FE], S427 [7FE], S463 [8FE], S565 [9FE] Amendments, S362 [5FE], S426 [6FE], S445, S454, S455, S460, S461 [7FE], S504, S505, S506, S507, S509, S512, S521, S522, S527, S529, S531, S533, S534, S536, S539, S540, S541, S542, S543, S563 [8FE], S593, S594, S604, S605, S607, S608, S613, S635, S637, S639, S642, S644, S645, S646, S647, S650, S651, S652, S653, S654, S655, S676, S697, S703, S706, S707, S708, S709, S710, S711, S712, S713, S714, S715, S718, S719, S721, S722, S723, S724, S728, S729, S736, S737, S762, S791, S792, S795, S798, S800, S801, S802 [9FE], S832, S833, S834, S835, S836 [10FE], S856, S857 [11FE], S960 [12FE], S2944, S3003, S3004, S3006, S3007, S3031, S3032, S3033, S3034, S3037, S3038, S3039, S3040, S3044, S3065 [23AP] Senate failed to invoke cloture on motion to proceed to consider, S438 [7FE] Motion to reconsider agreed to, S438 [7FE] Senate invoked cloture on motion to proceed, S464 [8FE] Motion to proceed agreed to, S593 [9FE] Debated, S805 [10FE], S838 [11FE], S859 [12FE] Motion to table motion to commit rejected, S841 [11FE] Senate invoked cloture on substitute amendment. Motion to commit fell, S842 [11FE] Senate invoked cloture on debate, S907 [12FE] Passed Senate amended, S952 [12FE] Message from the Senate, H551 [13FE] House agreed to Senate amendment (pursuant to H. Res. 1160), H2622 [20AP] Senate consideration of House amendment to Senate amendment, S2943 [23AP] Motion to table motion to refer rejected, S2960 [23AP] Senate invoked cloture on motion to agree to House amendment to Senate amendment, S2961 [23AP] Senate agreed to House amendment to Senate amendment, S2992 [23AP] Message from the House, S2997 [23AP] Message from the Senate (received April 23, 2024), H2631 [26AP] Message from the House (received April 23, 2024, during adjournment), S3077 [30AP] Examined and signed in the House (April 23, 2024), H2632 [26AP] Examined and signed in the Senate (April 23, 2024, during adjournment), S3077 [30AP] Presented to the President (April 24, 2024), H2632 [26AP] Approved [Public Law 118–50] (signed April 24, 2024) H.R. 819 — A bill to amend the Richard B. Russell National School Lunch Act with respect to the types of milk offered under the school lunch program, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H366 [31JA] H.R. 820 — A bill to direct the Federal Communications Commission to publish a list of entities that hold authorizations, licenses, or other grants of authority issued by the Commission and that have certain foreign ownership, and for other purposes; to the Committee on Energy and Commerce. Reported with amendment (H. Rept. 118–489), H2935 [7MY] H.R. 822 — A bill to amend the Public Health Service Act to authorize the Secretary of Health and Human Services, acting through the Assistant Secretary for Mental Health and Substance Use, to award grants to eligible entities to establish or maintain a student mental health and safety helpline, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3726 [11JN] H.R. 827 — A bill to require the Comptroller General to submit to Congress a report on the capacity of federally assisted housing to support broadband service, and for other purposes; to the Committee on Financial Services. Cosponsors added, H544 [9FE], H3399 [21MY] H.R. 830 — A bill to amend title XXVII of the Public Health Service Act to apply additional payments, discounts, and other financial assistance towards the cost-sharing requirements of health insurance plans, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H148 [16JA], H253 [25JA], H317 [30JA], H582 [13FE], H693 [23FE], H823 [5MR], H1034 [7MR], H1094 [11MR], H1149 [12MR], H1189 [15MR], H1235 [19MR], H1499 [22MR], H2121 [26MR], H2130 [29MR], H2253 [9AP], H2318 [11AP], H2636 [26AP], H2875 [6MY], H3000 [8MY], H3007 [10MY], H3274 [15MY], H3543 [31MY], H4115 [18JN] H.R. 833 — A bill to amend titles XVIII and XIX of the Social Security Act to provide for enhanced payments to rural health care providers under the Medicare and Medicaid programs, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1235 [19MR] H.R. 834 — A bill to amend title XVIII of the Social Security Act to support rural residency training funding that is equitable for all States, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H538 [7FE] H.R. 837 — A bill to direct the Secretary of Housing and Urban Development to establish a grant program to help revitalize certain localities, and for other purposes; to the Committee on Financial Services. Cosponsors added, H2445 [16AP] H.R. 838 — A bill to amend the Internal Revenue Code of 1986 to provide a tax credit to encourage the replacement or modernization of inefficient, outdated freight railcars, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H693 [23FE], H1149 [12MR], H2629 [23AP], H3485 [22MY], H3530 [24MY] H.R. 839 — A bill to require the United States Executive Director at the International Monetary Fund to advocate for increased transparency with respect to exchange rate policies of the People’s Republic of China, and for other purposes; to the Committee on Financial Services. Text, H35 [10JA] Rules suspended. Passed House amended, H124 [12JA] Message from the House, S121 [16JA] Referred to the Committee on Foreign Relations, S121 [16JA] H.R. 841 — A bill to amend title 38, United States Code, to allow a surviving spouse of a Medal of Honor recipient to receive a special pension concurrently with dependency and indemnity compensation, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H639 [14FE] H.R. 847 — A bill to provide funding to State and local law enforcement agencies to combat auto theft and stolen automobile trafficking, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1354 [21MR], H3358 [17MY] H.R. 856 — A bill to provide paid family and medical leave to Federal employees, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Veterans’ Affairs, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA], H738 [28FE], H1058 [8MR], H1235 [19MR], H2142 [5AP], H2253 [9AP], H3007 [10MY], H3656 [4JN], H3726 [11JN] H.R. 860 — A bill to establish new ZIP Codes for certain communities, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H3205 [14MY], H3485 [22MY], H3656 [4JN] H.R. 861 — A bill to amend the Help America Vote Act of 2002 to permit an individual who is subject to a requirement to present identification as a condition of voting in an election for Federal office to meet such requirement by presenting a sworn written statement attesting to the individual’s identification, and for other purposes; to the Committee on House Administration. Cosponsors added, H2130 [29MR] H.R. 865 — A bill to posthumously award a Congressional Gold Medal, collectively, to the African Americans who served with Union forces during the Civil War, in recognition of their bravery and outstanding service; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3399 [21MY] H.R. 866 — A bill to amend title 5, United States Code, to achieve parity between the cost-of-living adjustment with respect to an annuity under the Federal Employees Retirement System and an annuity under the Civil Service Retirement System, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H582 [13FE], H738 [28FE], H1149 [12MR], H2130 [29MR], H2253 [9AP], H2291 [10AP], H2445 [16AP], H3274 [15MY], H3399 [21MY], H4063 [13JN] H.R. 868 — A bill to shorten the review period for the congressional review of termination of certain national emergencies, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Foreign Affairs, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3274 [15MY] H.R. 871 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide for the eligibility of Transportation Security Administration employees to receive public safety officers death benefits, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H582 [13FE], H639 [14FE], H684 [16FE], H738 [28FE], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1297 [20MR], H2130 [29MR], H2503 [17AP], H2636 [26AP] H.R. 873 — A bill to authorize the Administrator of the Environmental Protection Agency to award grants and contracts for projects that use emerging technologies to address threats to water quality, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H1000 [6MR] H.R. 880 — A bill to establish a program to provide for women’s heart health continuing medical education, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H582 [13FE], H738 [28FE] H.R. 882 — A bill to provide grants to State educational agencies to support State efforts to increase teacher salaries, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1094 [11MR], H1354 [21MR], H3205 [14MY] H.R. 883 — A bill to amend titles II and XVIII of the Social Security Act to eliminate the disability insurance benefits waiting period for individuals with disabilities, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1354 [21MR], H2291 [10AP], H2445 [16AP], H2623 [20AP], H3675 [5JN] H.R. 884 — A bill to amend the Internal Revenue Code of 1986 to provide for current year inclusion of net CFC tested income, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H317 [30JA], H639 [14FE], H738 [28FE], H2291 [10AP] H.R. 886 — A bill to amend the Save Our Seas 2.0 Act to improve the administration of the Marine Debris Foundation, to amend the Marine Debris Act to improve the administration of the Marine Debris Program of the National Oceanic and Atmospheric Administration, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Text, H1076 [11MR] Rules suspended. Passed House amended, H1080 [11MR] Message from the House, S2364 [12MR] Placed on the calendar, S2364 [12MR] H.R. 889 — A bill to amend the Internal Revenue Code of 1986 to exclude certain broadband grants from gross income; to the Committee on Ways and Means. Cosponsors added, H253 [25JA], H544 [9FE], H1235 [19MR], H2831 [1MY] H.R. 891 — A bill to direct the Secretary of Energy to carry out a grant program to improve the energy resilience, energy democracy, and security of communities, prioritizing environmental justice communities, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY] H.R. 893 — A bill to amend the Low-Income Home Energy Assistance Act of 1981 to increase the availability of heating and cooling assistance, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP] H.R. 894 — A bill to amend title 38, United States Code, to provide for limitations on copayments for contraception furnished by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H504 [6FE], H738 [28FE], H2522 [18AP], H3399 [21MY] H.R. 895 — A bill to combat organized crime involving the illegal acquisition of retail goods for the purpose of selling those illegally obtained goods through physical and online retail marketplaces; to the Committee on the Judiciary. Cosponsors added, H148 [16JA], H189 [17JA], H273 [29JA], H432 [5FE], H681 [15FE], H696 [26FE], H1094 [11MR], H3530 [24MY], H3582 [3JN], H3675 [5JN], H3681 [7JN] H.R. 898 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to authorize COPS grantees to use grant funds for recruitment and retention of law enforcement officers; to the Committee on the Judiciary. Cosponsors added, H1094 [11MR], H3205 [14MY] H.R. 899 — A bill to terminate the Department of Education; to the Committee on Education and the Workforce. Cosponsors added, H693 [23FE], H2629 [23AP], H2636 [26AP] H.R. 902 — A bill to provide for further comprehensive research at the National Institute of Neurological Disorders and Stroke on unruptured intracranial aneurysms; to the Committee on Energy and Commerce. Cosponsors added, H1499 [22MR], H2367 [12AP], H2559 [19AP], H2636 [26AP], H3485 [22MY], H3656 [4JN] H.R. 903 — A bill to amend the Small Business Act to require the Administrator of the Small Business Administration to carry out a pilot program on issuing grants to eligible veterans to start or acquire qualifying businesses, and for other purposes; to the Committee on Small Business. Cosponsors added, H544 [9FE], H582 [13FE], H639 [14FE] H.R. 905 — A bill to amend title 18, United States Code, to define intimate partner to include someone with whom there is or was a dating relationship, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H52 [10JA] H.R. 906 — A bill to ensure consumers have access to data relating to their motor vehicles, critical repair information, and tools, and to provide them choices for the maintenance, service, and repair of their motor vehicles, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H366 [31JA], H639 [14FE], H2253 [9AP], H3975 [12JN] H.R. 907 — A bill to amend the Communications Act of 1934 to modify the definition of franchise fee, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H582 [13FE], H1094 [11MR], H1297 [20MR], H1499 [22MR], H2121 [26MR], H2136 [2AP], H2253 [9AP] H.R. 909 — A bill to amend the FAA Modernization and Reform Act of 2012 to establish a Sustainable Aviation Fuel Working Group, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H189 [17JA] H.R. 911 — A bill to direct the Administrator of the Federal Aviation Administration to issue an order requiring installation of a secondary cockpit barrier on certain aircraft, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H14 [9JA] H.R. 913 — A bill to modify the disposition of certain outer Continental Shelf revenues and to open Federal financial sharing to heighten opportunities for renewable energy, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H684 [16FE], H2367 [12AP] H.R. 914 — A bill to simplify the grant process for nonurbanized areas, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H242 [18JA], H504 [6FE] H.R. 917 — A bill to require the Committee on Foreign Investment in the United States to review any purchase or lease of real estate near a military installation or military airspace in the United States by a foreign person connected to, or subsidized by, the Russian Federation, the People’s Republic of China, the Islamic Republic of Iran, or the Democratic People’s Republic of Korea, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Energy and Commerce, Armed Services, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2623 [20AP] H.R. 920 — A bill to amend the Office of National Drug Control Policy Reauthorization Act of 1998 to require a Caribbean border counternarcotics strategy, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1034 [7MR], H2559 [19AP], H3000 [8MY] H.R. 921 — A bill to amend the Immigration and Nationality Act to provide that an alien who has been convicted of a crime is ineligible for asylum, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H681 [15FE], H2831 [1MY] H.R. 926 — A bill to amend title 28, United States Code, to provide for a code of conduct for justices of the Supreme Court of the United States, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H52 [10JA], H189 [17JA], H242 [18JA], H247 [22JA], H504 [6FE], H738 [28FE], H2318 [11AP], H3543 [31MY], H4115 [18JN] H.R. 927 — A bill to amend title 28, United States Code, to provide for a code of conduct for justices and judges of the courts of the United States, establish an ethics investigations counsel, and require disclosure of recusals; to the Committee on the Judiciary. Cosponsors added, H504 [6FE], H1297 [20MR], H4115 [18JN] H.R. 929 — A bill to take certain land in the State of Washington into trust for the benefit of the Puyallup Tribe of the Puyallup Reservation, and for other purposes; to the Committee on Natural Resources. Reported (H. Rept. 118–423), H1146 [12MR] H.R. 930 — A bill to amend the Omnibus Parks and Public Lands Management Act of 1996 to provide for the establishment of a Ski Area Fee Retention Account, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE] H.R. 932 — A bill to repeal the authorizations for use of military force against Iraq; to the Committee on Foreign Affairs. Cosponsors added, H189 [17JA], H2367 [12AP], H2629 [23AP], H2875 [6MY], H3205 [14MY], H3485 [22MY], H3543 [31MY], H4115 [18JN] H.R. 936 — A bill to amend the Internal Revenue Code of 1986 to repeal the excise tax on indoor tanning services; to the Committee on Ways and Means. Cosponsors added, H242 [18JA], H738 [28FE], H2318 [11AP], H2559 [19AP], H3330 [16MY], H3358 [17MY] H.R. 945 — A bill to amend the Poultry Products Inspection Act and the Federal Meat Inspection Act to support small and very small meat and poultry processing establishments, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2121 [26MR], H2701 [29AP] H.R. 952 — A bill to amend title XIX of the Social Security Act to renew the application of the Medicare payment rate floor to primary care services furnished under the Medicaid program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H253 [25JA] H.R. 953 — A bill to establish universal child care and early learning programs; to the Committee on Education and the Workforce. Cosponsors added, H582 [13FE], H1235 [19MR], H2398 [15AP] H.R. 954 — A bill to award a Congressional Gold Medal, collectively, to the individuals and communities who volunteered or donated items to the North Platte Canteen in North Platte, Nebraska, during World War II from December 25, 1941, to April 1, 1946; to the Committee on Financial Services. Cosponsors added, H3485 [22MY] H.R. 955 — A bill to amend title XVIII of the Social Security Act to allow payments under the Medicare program for certain items and services furnished by off-campus outpatient departments of a provider to be determined under the prospective payment system for hospital outpatient department services, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1182 [13MR], H3530 [24MY] H.R. 957 — A bill to amend the Internal Revenue Code of 1986 to increase the amount excluded from gross income by reason of distributions from governmental retirement plans for health and long-term care insurance for public safety officers; to the Committee on Ways and Means. Cosponsors added, H693 [23FE], H1149 [12MR], H1297 [20MR], H2629 [23AP], H3526 [23MY] H.R. 964 — A bill to direct the Administrator of General Services to ensure that the design of public buildings in the United States adheres to the guiding principles for Federal architecture, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H774 [29FE], H823 [5MR], H1058 [8MR], H1149 [12MR], H2130 [29MR] H.R. 969 — A bill to amend the Elementary and Secondary Education Act of 1965 to expand access to school-wide arts and music programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1354 [21MR] H.R. 972 — A bill to amend title XVIII of the Social Security Act to modernize payments for ambulatory surgical centers under the Medicare program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H738 [28FE], H1182 [13MR] H.R. 974 — A bill to remove obstacles to the ability of law enforcement officers to enforce gun safety laws, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H3681 [7JN] H.R. 976 — A bill to amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Tax Cuts and Jobs Act affecting individuals, families, and small businesses, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H3526 [23MY] H.R. 977 — A bill to repeal changes made by health care reform laws to the Medicare exception to the prohibition on certain physician referrals for hospitals; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H253 [25JA], H639 [14FE], H774 [29FE], H1235 [19MR], H3399 [21MY], H3726 [11JN] Removal of cosponsors, H318 [30JA] H.R. 982 — A bill to address the health needs of incarcerated women related to pregnancy and childbirth, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1149 [12MR], H1235 [19MR], H1354 [21MR], H2938 [7MY], H3543 [31MY] H.R. 984 — A bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to award grants to States to improve outreach to veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H242 [18JA], H273 [29JA], H504 [6FE], H1149 [12MR], H2130 [29MR], H2253 [9AP], H3007 [10MY], H3399 [21MY] H.R. 985 — A bill to prohibit the use of Federal funds in any program, project, or activity of any agency in the Executive Branch to provide principles, resources, or specific suggestions for gender neutral or inclusive language or inclusive communication principles to help inform an inclusive approach to carrying out any such program, project, and activity; to the Committee on Oversight and Accountability. Cosponsors added, H14 [9JA] H.R. 987 — A bill to require the Secretary of the Treasury to mint coins in recognition of the late Prime Minister Golda Meir and the 75th anniversary of the United States-Israel relationship; to the Committee on Financial Services. Cosponsors added, H14 [9JA], H148 [16JA], H639 [14FE], H681 [15FE], H688 [20FE], H693 [23FE], H774 [29FE], H823 [5MR], H1149 [12MR], H2445 [16AP], H2503 [17AP], H2636 [26AP], H2875 [6MY], H3205 [14MY], H3582 [3JN], H3656 [4JN], H3681 [7JN] H.R. 994 — A bill to amend the Public Health Service Act to authorize a public education campaign across all relevant programs of the Health Resources and Services Administration to increase oral health literacy and awareness; to the Committee on Energy and Commerce. Cosponsors added, H3485 [22MY], H4063 [13JN] H.R. 996 — A bill to designate the facility of the United States Postal Service located at 3901 MacArthur Blvd., in New Orleans, Louisiana, as the ‘‘Dr. Rudy Lombard Post Office’’; to the Committee on Oversight and Accountability. Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Message from the House, S3129 [1MY] Examined and signed in the House, H2825 [1MY] Examined and signed in the Senate, S3129 [1MY] Presented to the President (May 1, 2024), H2994 [8MY] Approved [Public Law 118–53] (signed May 7, 2024) H.R. 997 — A bill to declare English as the official language of the United States, to establish a uniform English language rule for naturalization, and to avoid misconstructions of the English language texts of the laws of the United States, pursuant to Congress’ powers to provide for the general welfare of the United States and to establish a uniform rule of naturalization under article I, section 8, of the Constitution; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1235 [19MR], H2253 [9AP] H.R. 998 — A bill to amend section 287(g) of the Immigration and Nationality Act to clarify congressional intent with respect to agreements under such section, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2771 [30AP] H.R. 1002 — A bill to prohibit the establishment of schedule F of the excepted service, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H317 [30JA], H582 [13FE], H681 [15FE], H688 [20FE], H738 [28FE], H1034 [7MR], H1058 [8MR], H1149 [12MR], H1182 [13MR], H1354 [21MR], H2291 [10AP], H2445 [16AP], H3274 [15MY], H3656 [4JN], H3681 [7JN] H.R. 1003 — A bill to direct the Secretary of Veterans Affairs to carry out a study and clinical trials on the effects of cannabis on certain health outcomes of veterans with chronic pain and post-traumatic stress disorder, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H2701 [29AP] H.R. 1005 — A bill to amend title 18, United States Code, to reauthorize and expand the National Threat Assessment Center of the Department of Homeland Security; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H366 [31JA], H4063 [13JN] H.R. 1008 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to include algal blooms in the definition of a major disaster, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H639 [14FE], H681 [15FE], H688 [20FE], H697 [26FE], H738 [28FE], H823 [5MR], H1354 [21MR], H2367 [12AP] H.R. 1010 — A bill to prohibit the implementation of new requirements to report bank account deposits and withdrawals; to the Committee on Financial Services. Cosponsors added, H1297 [20MR] H.R. 1015 — A bill to award a Congressional Gold Medal to the United States Army Dustoff crews of the Vietnam War, collectively, in recognition of their extraordinary heroism and life-saving actions in Vietnam; to the Committee on Financial Services. Cosponsors added, H242 [18JA], H681 [15FE], H823 [5MR], H1000 [6MR], H1034 [7MR], H1182 [13MR], H1235 [19MR], H1354 [21MR], H1499 [22MR], H2121 [26MR], H2130 [29MR], H2318 [11AP], H2629 [23AP], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3274 [15MY], H3330 [16MY], H3358 [17MY], H3485 [22MY], H3526 [23MY], H3543 [31MY], H3582 [3JN], H3656 [4JN], H3675 [5JN], H3681 [7JN], H3726 [11JN], H4063 [13JN], H4110 [14JN] H.R. 1023 — A bill to repeal section 134 of the Clean Air Act, relating to the greenhouse gas reduction fund; to the Committee on Energy and Commerce. Providing for consideration (H. Res. 1085), H1233 [19MR] Debated, H1358 [22MR] Text, H1358 [22MR] Motion to recommit, H1365 [22MR] Motion to recommit rejected, H1487 [22MR] Passed House amended, H1488 [22MR] H.R. 1024 — A bill to amend the Public Health Service Act to ensure that nonanimal methods are prioritized, where applicable and feasible, in proposals for all research to be conducted or supported by the National Institutes of Health, to provide for the establishment of the National Center for Alternatives to Animals in Research and Testing, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H247 [22JA] H.R. 1025 — A bill to prohibit Federal funding to the Wuhan Institute of Virology and to require a GAO study regarding Federal funds previously provided to such institute or to entities affiliated with the Chinese Government; to the Committee on Foreign Affairs. Cosponsors added, H1235 [19MR] H.R. 1041 — A bill to establish American opportunity accounts, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H3726 [11JN] H.R. 1042 — A bill to prohibit the importation into the United States of unirradiated low-enriched uranium that is produced in the Russian Federation, and for other purposes; to the Committee on Energy and Commerce. Passed Senate, S3084 [30AP] Message from the Senate, H2797 [1MY] Message from the House, S3593 [8MY] Examined and signed in the House, H2994 [8MY] Examined and signed in the Senate, S3650 [9MY] Presented to the President (May 9, 2024), H3002 [10MY] Approved [Public Law 118–62] (signed May 13, 2024), H3206 [14MY] H.R. 1045 — A bill to amend title 10, United States Code, to improve dependent coverage under the TRICARE Young Adult Program; to the Committee on Armed Services. Cosponsors added, H273 [29JA], H582 [13FE], H681 [15FE], H1235 [19MR], H2142 [5AP], H2522 [18AP] H.R. 1046 — A bill to enhance Social Security benefits and ensure the long-term solvency of the Social Security program; to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H688 [20FE] H.R. 1060 — A bill to designate the facility of the United States Postal Service located at 1663 East Date Place in San Bernardino, California, as the ‘‘Dr. Margaret B. Hill Post Office Building’’; to the Committee on Oversight and Accountability. Text, H264 [29JA] Rules suspended. Passed House, H359 [31JA] Message from the House, S342 [1FE] Referred to the Committee on Homeland Security and Governmental Affairs, S342 [1FE] H.R. 1062 — A bill to eliminate the disparity in sentencing for cocaine offenses, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H681 [15FE] H.R. 1065 — A bill to codify the existing Outdoor Recreation Legacy Partnership Program of the National Park Service, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H242 [18JA], H582 [13FE], H1235 [19MR], H2938 [7MY], H3534 [28MY] H.R. 1066 — A bill to require the Secretary of Health and Human Services to issue and disseminate guidance to States to clarify strategies to address social determinants of health under the Medicaid program and the Children’s Health Insurance Program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2636 [26AP] H.R. 1069 — A bill to amend the Infrastructure Investment and Jobs Act to require reporting regarding clean energy demonstration projects, and for other purposes; to the Committee on Science, Space, and Technology. Rules suspended. Passed House amended, H2651 [29AP] Text, H2651 [29AP] Message from the House, S3077 [30AP] Referred to the Committee on Energy and Natural Resources, S3078 [30AP] H.R. 1072 — A bill to amend the Public Health Service Act to authorize supplemental awards to health centers to establish community transformation hubs; to the Committee on Energy and Commerce. Cosponsors added, H1000 [6MR], H1058 [8MR], H2367 [12AP] H.R. 1073 — A bill to direct the Joint Committee of Congress on the Library to obtain a statue of Shirley Chisholm for placement in the United States Capitol; to the Committee on House Administration. Cosponsors added, H1149 [12MR], H1189 [15MR], H2142 [5AP], H2445 [16AP] H.R. 1077 — A bill to posthumously award a congressional gold medal to Constance Baker Motley, in recognition of her enduring contributions and service to the United States; to the Committee on Financial Services. Cosponsors added, H108 [11JA], H390 [1FE], H504 [6FE], H693 [23FE], H774 [29FE], H2522 [18AP], H2836 [2MY], H2938 [7MY], H3582 [3JN], H4110 [14JN] H.R. 1078 — A bill to reauthorize and improve a grant program to assist institutions of higher education in establishing, maintaining, improving, and operating Student Veteran Centers; to the Committee on Education and the Workforce. Cosponsors added, H639 [14FE], H1094 [11MR], H3582 [3JN] H.R. 1081 — A bill to protect Americans from the threat posed by certain foreign adversaries using current or potential future social media companies that those foreign adversaries control to surveil Americans, gather sensitive data about Americans, or spread influence campaigns, propaganda, and censorship; to the Committee on Foreign Affairs. Cosponsors added, H681 [15FE] H.R. 1083 — A bill to amend title 38, United States Code, to improve and to expand eligibility for dependency and indemnity compensation paid to certain survivors of certain veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H189 [17JA], H242 [18JA], H253 [25JA], H366 [31JA], H544 [9FE], H1094 [11MR], H1297 [20MR], H2121 [26MR], H2318 [11AP], H2522 [18AP], H2629 [23AP], H3358 [17MY] H.R. 1087 — A bill to authorize security deposit and moving costs assistance for low-income households, and for other purposes; to the Committee on Financial Services. Cosponsors added, H52 [10JA], H582 [13FE], H2875 [6MY] H.R. 1088 — A bill to posthumously award a Congressional Gold Medal to Shirley Chisholm; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H52 [10JA], H684 [16FE], H1149 [12MR], H1189 [15MR], H1235 [19MR], H1354 [21MR], H1499 [22MR], H2130 [29MR], H2142 [5AP], H2253 [9AP], H2318 [11AP], H2367 [12AP], H2636 [26AP], H2875 [6MY], H2938 [7MY], H3000 [8MY], H3007 [10MY], H3205 [14MY], H3274 [15MY], H3330 [16MY], H3358 [17MY], H3399 [21MY], H3485 [22MY], H3526 [23MY], H3530 [24MY], H3534 [28MY], H3582 [3JN], H3656 [4JN], H3681 [7JN], H3726 [11JN], H4063 [13JN], H4115 [18JN] H.R. 1091 — A bill to amend title 18, United States Code, to clarify the causation element in the Federal hate crime statute, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1354 [21MR] H.R. 1092 — A bill to strengthen the use of patient-experience data within the benefit-risk framework for approval of new drugs; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA], H1034 [7MR], H1235 [19MR], H3399 [21MY], H3485 [22MY], H3681 [7JN] H.R. 1097 — A bill to award a Congressional Gold Medal to Everett Alvarez, Jr., in recognition of his service to the Nation; to the Committee on Financial Services. Cosponsors added, H52 [10JA], H133 [12JA], H242 [18JA], H253 [25JA], H366 [31JA], H432 [5FE], H582 [13FE], H681 [15FE], H693 [23FE], H738 [28FE], H774 [29FE], H781 [1MR], H823 [5MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1189 [15MR], H1297 [20MR], H1354 [21MR], H2142 [5AP], H2291 [10AP], H2318 [11AP], H2367 [12AP], H2398 [15AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H2559 [19AP], H2636 [26AP], H2701 [29AP], H2771 [30AP], H3399 [21MY] Rules suspended. Passed House, H3376 [21MY] Text, H3376 [21MY] Message from the House, S3882 [23MY] Referred to the Committee on Banking, Housing, and Urban Affairs, S3883 [23MY] H.R. 1098 — A bill to designate the facility of the United States Postal Service located at 50 East Derry Road in East Derry, New Hampshire, as the ‘‘Chief Edward B. Garone Post Office’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3566 [3JN] Text, H3566 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3950 [4JN] H.R. 1100 — A bill to amend the Immigration and Nationality Act to eliminate the diversity immigrant program; to the Committee on the Judiciary. Cosponsors added, H432 [5FE], H2291 [10AP], H3274 [15MY] H.R. 1102 — A bill to withhold United States contributions to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H189 [17JA], H366 [31JA], H582 [13FE], H639 [14FE], H688 [20FE], H781 [1MR], H1235 [19MR] H.R. 1103 — A bill to require the President to remove the extension of certain privileges, exemptions, and immunities to the Hong Kong Economic and Trade Offices if Hong Kong no longer enjoys a high degree of autonomy from the People’s Republic of China, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H823 [5MR] H.R. 1110 — A bill to direct the Secretary of Health and Human Services, the Medicare Payment Advisory Commission, and the Medicaid and CHIP Payment and Access Commission to conduct studies and report to Congress on actions taken to expand access to telehealth services under the Medicare, Medicaid, and Children’s Health Insurance programs during the COVID-19 emergency; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR] H.R. 1111 — A bill to establish a Department of Peacebuilding, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H133 [12JA], H1000 [6MR], H2142 [5AP], H2253 [9AP], H3358 [17MY], H3399 [21MY], H3485 [22MY] H.R. 1114 — A bill to provide for optimized care, a coordinated Federal Government response, public education, and insurance reimbursement guidance for Long COVID, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H253 [25JA], H3656 [4JN] H.R. 1116 — A bill to prohibit individuals charged with human trafficking or drug trafficking offenses committed near the border of the United States from receiving Federal benefits; to the Committee on Oversight and Accountability. Cosponsors added, H52 [10JA] H.R. 1117 — A bill to implement certain recommendations to promote the inclusion of pregnant and lactating women in clinical research, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H52 [10JA], H738 [28FE], H2291 [10AP] H.R. 1118 — A bill to amend the Federal Election Campaign Act of 1971 to provide for additional disclosure requirements for corporations, labor organizations, Super PACs and other entities, and for other purposes; to the Committee on House Administration, and in addition to the Committees on Ways and Means, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H52 [10JA], H189 [17JA], H242 [18JA], H247 [22JA], H253 [25JA], H366 [31JA], H823 [5MR], H3205 [14MY], H3274 [15MY], H3726 [11JN], H4063 [13JN], H4115 [18JN] H.R. 1121 — A bill to prohibit a moratorium on the use of hydraulic fracturing; to the Committee on Natural Resources, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported (H. Rept. 118–19, part 2), H363 [31JA] Providing for consideration (H. Res. 1085), H1233 [19MR] Debated, H1255 [20MR] Text, H1255 [20MR] Motion to recommit rejected, H1270 [20MR] Passed House, H1272 [20MR] Message from the House, S2512 [21MR] Referred to the Committee on Energy and Natural Resources, S2512 [21MR] H.R. 1124 — A bill to abolish the death penalty under Federal law; to the Committee on the Judiciary, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H3727 [11JN] H.R. 1125 — A bill to require disclosure of the total amount of interest that would be paid over the life of a loan for certain Federal student loans; to the Committee on Education and the Workforce. Cosponsors added, H2142 [5AP] H.R. 1127 — A bill to allow for cooperative research activities between the Department of Homeland Security and Taiwan to strengthen preparedness against cyber threats and enhance capabilities in cybersecurity, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H781 [1MR], H2623 [20AP] H.R. 1133 — A bill to clarify that the scope of the National Endowment for the Humanities includes the study of civics and government; to the Committee on Education and the Workforce. Cosponsors added, H823 [5MR] H.R. 1134 — A bill to reduce the amount authorized to be appropriated for the Department of Defense for fiscal year 2024, and for other purposes; to the Committee on Armed Services. Cosponsors added, H432 [5FE], H3485 [22MY], H3582 [3JN] H.R. 1139 — A bill to amend title 38, United States Code, to reinstate penalties for persons charging veterans unauthorized fees relating to claims for benefits under the laws administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H52 [10JA], H693 [23FE], H1034 [7MR], H1189 [15MR], H1235 [19MR], H2130 [29MR], H2938 [7MY], H3330 [16MY] Removal of cosponsors, H1237 [19MR], H2319 [11AP] H.R. 1145 — A bill to amend chapter 44 of title 18, United States Code, to require the safe storage of firearms, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1000 [6MR] H.R. 1166 — A bill to enhance authorities under the Defense Production Act of 1950 to respond to the public health emergencies, to provide additional oversight of such authorities, and for other purposes; to the Committee on Financial Services. Reported with amendment (H. Rept. 118–524), H3520 [23MY] H.R. 1167 — A bill to address the history of discrimination against Black farmers and ranchers, to require reforms within the Department of Agriculture to prevent future discrimination, and for other purposes; to the Committee on Agriculture, and in addition to the Committees on Education and the Workforce, Financial Services, the Judiciary, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H544 [9FE], H688 [20FE], H1235 [19MR], H3205 [14MY], H3534 [28MY] H.R. 1169 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to provide certificates of eligibility and award letters to certain individuals using electronic means; to the Committee on Veterans’ Affairs. Cosponsors added, H781 [1MR] H.R. 1173 — A bill to amend the Federal Food, Drug, and Cosmetic Act regarding the patient medication information required to be included in the labeling of prescription drugs, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H582 [13FE], H693 [23FE] H.R. 1179 — A bill to amend title 18, United States Code, to provide an additional tool to prevent certain frauds against veterans, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H53 [10JA], H108 [11JA], H148 [16JA], H189 [17JA], H242 [18JA], H253 [25JA], H273 [29JA], H317 [30JA], H366 [31JA], H390 [1FE], H432 [5FE], H504 [6FE], H544 [9FE], H738 [28FE], H774 [29FE], H823 [5MR], H1094 [11MR], H2367 [12AP], H3000 [8MY], H3399 [21MY], H3526 [23MY], H3681 [7JN] H.R. 1181 — A bill to amend the Federal Water Pollution Control Act with respect to permitting terms, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H133 [12JA] H.R. 1182 — A bill to amend the VA Choice and Quality Employment Act to direct the Secretary of Veterans Affairs to establish a vacancy and recruitment database to facilitate the recruitment of certain members of the Armed Forces to satisfy the occupational needs of the Department of Veterans Affairs, to establish and implement a training and certification program for intermediate care technicians in that Department, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H189 [17JA] H.R. 1184 — A bill to amend the Animal Health Protection Act with respect to the importation of live dogs, and for other purposes; to the Committee on Agriculture. Cosponsors added, H504 [6FE], H582 [13FE], H693 [23FE], H774 [29FE], H1235 [19MR], H1297 [20MR] H.R. 1190 — A bill to amend the Lobbying Disclosure Act of 1995 to clarify a provision relating to certain contents of registrations under that Act; to the Committee on the Judiciary. Cosponsors added, H639 [14FE], H681 [15FE], H774 [29FE] H.R. 1191 — A bill to amend title 38, United States Code, to expand eligibility for a presumption of service connection for diseases associated with exposure to certain herbicide agents for certain veterans who served in Guam; to the Committee on Veterans’ Affairs. Cosponsors added, H53 [10JA], H273 [29JA], H432 [5FE], H693 [23FE], H1034 [7MR], H1094 [11MR], H2136 [2AP], H2503 [17AP] H.R. 1194 — A bill to amend title 31, United States Code, to require the President to consider the Government Accountability Office’s annual report on how to improve the efficiency and effectiveness of Government when preparing the President’s annual budget submission, and for other purposes; to the Committee on the Budget. Cosponsors added, H738 [28FE] H.R. 1198 — A bill to require a standard financial aid offer form, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2253 [9AP] H.R. 1199 — A bill to amend title XVIII of the Social Security Act to ensure equitable payment for, and preserve Medicare beneficiary access to, diagnostic radiopharmaceuticals under the Medicare hospital outpatient prospective payment system; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H738 [28FE], H2367 [12AP], H3399 [21MY], H3485 [22MY], H3582 [3JN] H.R. 1200 — A bill to preserve and protect the free choice of individual employees to form, join, or assist labor organizations, or to refrain from such activities; to the Committee on Education and the Workforce. Cosponsors added, H253 [25JA], H432 [5FE], H582 [13FE], H688 [20FE], H781 [1MR], H823 [5MR], H1000 [6MR], H3274 [15MY], H4063 [13JN] H.R. 1201 — A bill to amend title XIX of the Social Security Act to remove the exclusion from medical assistance under the Medicaid Program of items and services for patients in an institution for mental diseases, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H823 [5MR] H.R. 1202 — A bill to amend the Higher Education Act of 1965 to provide for interest-free deferment on student loans for borrowers serving in a medical or dental internship or residency program; to the Committee on Education and the Workforce. Cosponsors added, H432 [5FE], H823 [5MR], H2522 [18AP], H3007 [10MY], H3530 [24MY] H.R. 1203 — A bill to withhold Federal financial assistance from each country that denies or unreasonably delays the acceptance of nationals of such country who have been ordered removed from the United States and to prohibit the issuance of visas to nationals of such country; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H544 [9FE], H3274 [15MY] H.R. 1209 — A bill to preserve open competition and Federal Government neutrality towards the labor relations of Federal Government contractors on Federal and federally funded construction projects, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H108 [11JA], H242 [18JA], H4063 [13JN] H.R. 1213 — A bill to amend the Consolidated Appropriations Act, 2023 by repealing certain provisions relating to North Atlantic right whales; to the Committee on Natural Resources. Cosponsors added, H242 [18JA], H1297 [20MR] H.R. 1216 — A bill to revise counseling requirements for certain borrowers of student loans, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2142 [5AP] H.R. 1220 — A bill to make reforms to the Bank Secrecy Act, and for other purposes; to the Committee on Financial Services. Cosponsors added, H1034 [7MR] H.R. 1222 — A bill to award a Congressional Gold Medal collectively to the Buffalo Soldier regiments, authorized by Congress in 1866 to serve in the United States Armed Forces, in recognition of their superior, dedicated, and vital service to our Nation; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H242 [18JA], H253 [25JA], H317 [30JA], H582 [13FE], H688 [20FE], H693 [23FE], H1034 [7MR], H2291 [10AP] H.R. 1230 — A bill to direct the Secretary of Agriculture to make grants to States to support the establishment and operation of grocery stores in underserved communities, and for other purposes; to the Committee on Agriculture. Cosponsors added, H14 [9JA], H148 [16JA], H253 [25JA], H273 [29JA], H1149 [12MR], H1297 [20MR], H2399 [15AP] H.R. 1235 — A bill to amend title 5, United States Code, to provide for pay equality and the more accurate computation of retirement benefits for certain firefighters employed by the Federal Government, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H242 [18JA], H504 [6FE], H681 [15FE], H738 [28FE], H1058 [8MR], H1235 [19MR], H1499 [22MR], H2130 [29MR], H2875 [6MY], H3543 [31MY] H.R. 1238 — A bill to direct the Secretary of Transportation to issue certain regulations to define high-hazard flammable train, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H2291 [10AP] H.R. 1240 — A bill to transfer administrative jurisdiction of certain Federal lands from the Army Corps of Engineers to the Bureau of Indian Affairs, to take such lands into trust for the Winnebago Tribe of Nebraska, and for other purposes; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–369), H314 [30JA] Rules suspended. Passed House amended, H406 [5FE] Text, H406 [5FE] Message from the House, S420 [6FE] Referred to the Committee on Indian Affairs, S420 [6FE] Reported (S. Rept. 118–), S3930 [3JN] Passed Senate, S4172 [20JN] H.R. 1246 — A bill to authorize leases of up to 99 years for land held in trust for federally recognized Indian Tribes; to the Committee on Natural Resources. Reported (H. Rept. 118–422), H1146 [12MR] Rules suspended. Passed House, H2153 [9AP] Text, H2153 [9AP] Message from the House, S2704 [10AP] Referred to the Committee on Indian Affairs, S2704 [10AP] H.R. 1247 — A bill to award a Congressional Gold Medal to the Freedom Riders, collectively, in recognition of their unique contribution to Civil Rights, which inspired a revolutionary movement for equality in interstate travel; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H148 [16JA], H189 [17JA], H242 [18JA], H253 [25JA], H273 [29JA], H317 [30JA], H432 [5FE], H538 [7FE], H681 [15FE], H693 [23FE], H738 [28FE], H3205 [14MY], H3656 [4JN], H4115 [18JN] H.R. 1249 — A bill to prohibit certain practices relating to certain commodity promotion programs, to require greater transparency by those programs, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2367 [12AP] H.R. 1250 — A bill to restore the exemption of family farms and small businesses from the definition of assets under title IV of the Higher Education Act of 1965; to the Committee on Education and the Workforce. Cosponsors added, H3656 [4JN] H.R. 1251 — A bill to authorize the President to award the Medal of Honor to Doris Miller posthumously for acts of valor while a member of the Navy during World War II; to the Committee on Armed Services. Cosponsors added, H544 [9FE] H.R. 1255 — A bill to amend title 38, United States Code, to extend to Black veterans of World War II, and surviving spouses and certain direct descendants of such veterans, eligibility for certain housing loans and educational assistance administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H582 [13FE], H639 [14FE], H693 [23FE], H697 [26FE], H738 [28FE], H774 [29FE], H823 [5MR], H1094 [11MR], H1235 [19MR], H3000 [8MY] H.R. 1259 — A bill to amend the Internal Revenue Code of 1986 to provide for an election to expense certain qualified sound recording costs otherwise chargeable to capital account; to the Committee on Ways and Means. Cosponsors added, H4115 [18JN] H.R. 1262 — A bill to amend the Internal Revenue Code of 1986 to increase the applicable dollar amount for qualified carbon oxide which is captured and utilized for purposes of the carbon oxide sequestration credit; to the Committee on Ways and Means. Cosponsors added, H53 [10JA] H.R. 1263 — A bill to assist employers providing employment under special certificates issued under section 14(c) of the Fair Labor Standards Act of 1938 in transforming their business and program models to models that support individuals with disabilities through competitive integrated employment, to phase out the use of such special certificates, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H432 [5FE], H697 [26FE], H1235 [19MR], H1297 [20MR], H3582 [3JN] H.R. 1267 — A bill to protect the rights of passengers with disabilities in air transportation, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H544 [9FE] H.R. 1269 — A bill to amend the Richard B. Russell National School Lunch Act and the Child Nutrition Act of 1966 to increase reimbursement rates of school meals, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H1058 [8MR], H2291 [10AP] H.R. 1273 — A bill to amend the Peace Corps Act by providing better support for current and returned volunteers, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H823 [5MR], H1058 [8MR], H1235 [19MR], H2253 [9AP] H.R. 1274 — A bill to reauthorize the Lake Tahoe Restoration Act, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Transportation and Infrastructure, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H681 [15FE] H.R. 1276 — A bill to protect children from medical malpractice in the form of gender transition procedures; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, Education and the Workforce, Natural Resources, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1297 [20MR], H2130 [29MR] H.R. 1277 — A bill to amend the Internal Revenue Code of 1986 to make employers of spouses of military personnel eligible for the work opportunity credit; to the Committee on Ways and Means. Cosponsors added, H53 [10JA], H774 [29FE], H2253 [9AP], H2445 [16AP], H3727 [11JN], H4063 [13JN] H.R. 1278 — A bill to amend title 38, United States Code, to improve the rate of payments provided by the Secretary of Veterans Affairs for beneficiary travel; to the Committee on Veterans’ Affairs. Cosponsors added, H53 [10JA], H189 [17JA], H242 [18JA], H1499 [22MR], H2367 [12AP], H3205 [14MY] H.R. 1279 — A bill to make daylight savings time permanent, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H639 [14FE], H1058 [8MR], H1149 [12MR], H1235 [19MR] H.R. 1280 — A bill to amend the Public Health Service Act to authorize the Secretary of Health and Human Services to carry out a program of research related to cerebral palsy, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H390 [1FE] H.R. 1291 — A bill to amend the Controlled Substances Act to list fentanyl-related substances as schedule I controlled substances; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H681 [15FE] H.R. 1293 — A bill to improve the safety of the air supply on aircraft, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H148 [16JA], H247 [22JA], H317 [30JA], H688 [20FE], H693 [23FE], H1094 [11MR], H1182 [13MR], H1235 [19MR], H2121 [26MR], H2130 [29MR], H2253 [9AP], H2291 [10AP], H3007 [10MY] H.R. 1294 — A bill to amend title XXXIII of the Public Health Service Act with respect to flexibility and funding for the World Trade Center Health Program; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA] H.R. 1295 — A bill to amend the Help America Vote Act of 2002 to allow individuals to vote in an election for Federal office during an early voting period which occurs prior to the date of the election, and for other purposes; to the Committee on House Administration. Cosponsors added, H273 [29JA] H.R. 1297 — A bill to amend title 10, United States Code, to prohibit the Secretary of Defense from paying or reimbursing expenses relating to abortion services, and for other purposes; to the Committee on Armed Services. Cosponsors added, H242 [18JA], H3656 [4JN] H.R. 1301 — A bill to suspend the enforcement of certain civil liabilities of Federal employees and contractors during a lapse in appropriations, or during a breach of the statutory debt limit, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Financial Services, Ways and Means, the Judiciary, Education and the Workforce, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2318 [11AP] H.R. 1302 — A bill to repeal certain impediments to the administration of the firearms laws; to the Committee on the Judiciary. Cosponsors added, H1000 [6MR] H.R. 1305 — A bill to direct the Secretary of Health and Human Services, in consultation with the Secretary of State, to formulate a strategy for the Federal Government to secure support from foreign countries, multilateral organizations, and other appropriate entities to facilitate the development and commercialization of qualified pandemic or epidemic products, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H2318 [11AP] H.R. 1310 — A bill to authorize the use of FBI criminal history record information for administration of interstate compacts, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H317 [30JA], H738 [28FE], H1094 [11MR], H1149 [12MR] H.R. 1315 — A bill to amend the Public Health Service Act to establish a Prostate Cancer Coordinating Committee, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H738 [28FE] H.R. 1320 — A bill to amend the Outer Continental Shelf Lands Act to permanently prohibit the conduct of offshore drilling on the outer Continental Shelf in the Mid-Atlantic, South Atlantic, North Atlantic, and Straits of Florida planning areas; to the Committee on Natural Resources. Cosponsors added, H1000 [6MR] H.R. 1321 — A bill to amend the Internal Revenue Code of 1986 to increase the exclusion of gain from the sale of a principal residence, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H432 [5FE], H1094 [11MR], H2399 [15AP], H2636 [26AP], H2875 [6MY], H2938 [7MY], H3274 [15MY], H3358 [17MY], H3485 [22MY], H3530 [24MY], H3543 [31MY], H3656 [4JN], H4063 [13JN] H.R. 1322 — A bill to amend title 5, United States Code, to include certain Federal positions within the definition of law enforcement officer for retirement purposes, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H14 [9JA], H317 [30JA], H366 [31JA], H684 [16FE], H693 [23FE], H1058 [8MR], H2503 [17AP], H2771 [30AP], H3656 [4JN] H.R. 1323 — A bill to amend title 5, United States Code, to provide that for purposes of computing the annuity of certain law enforcement officers, any hours worked in excess of the limitation applicable to law enforcement premium pay shall be included in such computation, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA], H538 [7FE], H544 [9FE], H774 [29FE], H2771 [30AP], H3656 [4JN] H.R. 1325 — A bill to permit aliens seeking asylum to be eligible for employment in the United States, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA] H.R. 1326 — A bill to modify the limitation on the deduction by individuals of certain State and local taxes and to provide coverage for hearing and vision care under the Medicare program; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1182 [13MR] H.R. 1328 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish nonvisual accessibility standards for certain devices with digital interfaces, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA], H390 [1FE], H582 [13FE], H693 [23FE], H774 [29FE], H1189 [15MR], H2291 [10AP] H.R. 1330 — A bill to provide for the loan and lease of defense articles to the Government of Taiwan, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H1034 [7MR] H.R. 1342 — A bill to amend title XIX of the Social Security Act to improve coverage of dental and oral health services for adults under Medicaid, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H390 [1FE], H544 [9FE], H2318 [11AP] H.R. 1351 — A bill to repeal section 3003 of the Carl Levin and Howard P. ‘‘Buck’’ McKeon National Defense Authorization Act for Fiscal Year 2015, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H273 [29JA], H4063 [13JN] H.R. 1358 — A bill to direct the Bureau of Labor Statistics to prepare and publish a Consumer Price Index for Rural Consumers, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2701 [29AP] H.R. 1359 — A bill to expand the take-home prescribing of methadone through pharmacies; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H108 [11JA], H273 [29JA], H504 [6FE], H738 [28FE], H823 [5MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1182 [13MR], H2130 [29MR], H2142 [5AP], H2938 [7MY], H3000 [8MY], H3399 [21MY], H3543 [31MY] H.R. 1369 — A bill to review current restrictions on travel to North Korea, call for a formal end to the Korean War, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H242 [18JA], H2130 [29MR], H3205 [14MY] H.R. 1371 — A bill to improve Federal student loan disclosures, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H247 [22JA], H3681 [7JN] H.R. 1372 — A bill to award a Congressional Gold Medal to all United States nationals who voluntarily joined the Canadian and British Armed Forces and their supporting entities during World War II, in recognition of their dedicated service; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2831 [1MY], H3330 [16MY] H.R. 1379 — A bill to permit a registered investment company to omit certain fees from the calculation of Acquired Fund Fees and Expenses, and for other purposes; to the Committee on Financial Services. Cosponsors added, H3535 [28MY] H.R. 1380 — A bill to require the Secretary of Agriculture and the Secretary of the Interior to issue guidance on climbing management in designated wilderness areas, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2831 [1MY] H.R. 1382 — A bill to change the Bureau of Consumer Financial Protection into an independent agency named the Consumer Financial Empowerment Agency, to transition the Agency to the regular appropriations process, and for other purposes; to the Committee on Financial Services. Cosponsors added, H1297 [20MR], H2318 [11AP] H.R. 1383 — A bill to amend the Marine Mammal Protection Act of 1972 to direct the Secretary of Commerce to establish a climate impact management plan for the conservation of certain marine mammal species, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H3975 [12JN] H.R. 1385 — A bill to amend title XXVII of the Public Health Service Act to improve health care coverage under vision and dental plans, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H317 [30JA], H366 [31JA], H504 [6FE], H582 [13FE], H781 [1MR], H1189 [15MR], H1235 [19MR], H2253 [9AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2559 [19AP], H2629 [23AP], H2636 [26AP], H2831 [1MY], H3205 [14MY], H3399 [21MY], H3526 [23MY], H3727 [11JN] H.R. 1386 — A bill to amend the Immigration and Nationality Act to provide for the automatic acquisition of citizenship for certain children born outside the United States to a parent who is or becomes a United States citizen, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H253 [25JA] H.R. 1387 — A bill to amend the Elementary and Secondary Education Act of 1965 to increase civics education programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H189 [17JA], H273 [29JA], H823 [5MR] H.R. 1390 — A bill to amend title 31, United States Code, to require the Chief Operating Officer of each agency to compile a list of unnecessary programs, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H108 [11JA], H273 [29JA] H.R. 1393 — A bill to amend the Controlled Substances Act to define currently accepted medical use with severe restrictions, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1058 [8MR] H.R. 1394 — A bill to amend the Immigration and Nationality Act to clarify that expedited removal of inadmissible arriving aliens applies regardless of where the alien is encountered or apprehended, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 1395 — A bill to amend the Water Infrastructure Improvements for the Nation Act to reauthorize Delaware River Basin conservation programs, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1355 [21MR], H2136 [2AP] H.R. 1396 — A bill to modify the boundary of the Berryessa Snow Mountain National Monument to include certain Federal land in Lake County, California, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H2445 [16AP] H.R. 1399 — A bill to amend chapter 110 of title 18, United States Code, to prohibit gender affirming care on minors, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Ways and Means, Energy and Commerce, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H390 [1FE], H639 [14FE] H.R. 1401 — A bill to require the Commissioner of U.S. Customs and Border Protection to regularly review and update policies and manuals related to inspections at ports of entry; to the Committee on Homeland Security, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H823 [5MR] H.R. 1403 — A bill to amend the Workforce Innovation and Opportunity Act to create a new national program to support mid-career workers, including workers from underrepresented populations, in reentering the STEM workforce, by providing funding to small- and medium-sized STEM businesses so the businesses can offer paid internships or other returnships that lead to positions above entry level; to the Committee on Education and the Workforce. Cosponsors added, H108 [11JA], H432 [5FE], H582 [13FE], H774 [29FE], H1094 [11MR], H1235 [19MR], H1355 [21MR], H2130 [29MR], H2559 [19AP], H3681 [7JN] H.R. 1405 — A bill to improve services for trafficking victims by establishing, in Homeland Security Investigations, the Investigators Maintain Purposeful Awareness to Combat Trafficking Trauma Program and the Victim Assistance Program; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP], H2938 [7MY] H.R. 1406 — A bill to amend title XVIII of the Social Security Act to permanently extend certain in-home cardiopulmonary rehabilitation flexibilities established in response to COVID-19, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H253 [25JA], H317 [30JA], H390 [1FE], H693 [23FE], H1000 [6MR], H1149 [12MR], H1182 [13MR], H1499 [22MR], H3526 [23MY] H.R. 1407 — A bill to amend the Internal Revenue Code of 1986 to modify the private business use requirements for bonds issued for lead service line replacement projects; to the Committee on Ways and Means. Cosponsors added, H681 [15FE], H1235 [19MR], H3656 [4JN] H.R. 1413 — A bill to require the Secretary of Veterans Affairs to expand or otherwise modify an existing national cemetery to ensure that full military honors are provided at such cemetery, to require the Secretary of Defense and the Secretary of Veterans Affairs to jointly submit to Congress a report containing a proposal to increase national cemetery capacity and an assessment of the criteria for interment at Arlington National Cemetery, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H148 [16JA], H242 [18JA], H317 [30JA], H544 [9FE], H774 [29FE], H2503 [17AP], H2701 [29AP], H3330 [16MY], H3727 [11JN] H.R. 1415 — A bill to amend the Elementary and Secondary Education Act of 1965 to provide grants to hire and retain school social workers, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H3274 [15MY], H3399 [21MY], H3656 [4JN] H.R. 1421 — A bill to amend the Internal Revenue Code of 1986 to increase the limitation of the exclusion for dependent care assistance programs; to the Committee on Ways and Means. Cosponsors added, H2136 [2AP] H.R. 1424 — A bill to amend the Keep Kids Fed Act of 2022 to extend additional reimbursement rates for certain child nutrition programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2318 [11AP], H3975 [12JN] H.R. 1425 — A bill to require any convention, agreement, or other international instrument on pandemic prevention, preparedness, and response reached by the World Health Assembly to be subject to Senate ratification; to the Committee on Foreign Affairs. Cosponsors added, H538 [7FE], H2701 [29AP], H2771 [30AP], H2875 [6MY], H2938 [7MY], H3000 [8MY], H3007 [10MY], H3205 [14MY], H3274 [15MY], H3399 [21MY], H3582 [3JN] H.R. 1427 — A bill to amend the Food and Nutrition Act of 2008 to limit the use of business integrity and reputation factors when determining the eligibility of a retail food store or a wholesale food concern to be approved to redeem supplemental nutrition assistance program benefits; to the Committee on Agriculture. Cosponsors added, H1182 [13MR] H.R. 1428 — A bill to amend the Agricultural Marketing Act of 1946 to repeal the prohibition for certain individuals convicted of a felony offense to participate in hemp production, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3007 [10MY] H.R. 1432 — A bill to amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces; to the Committee on Ways and Means. Reported with amendment (H. Rept. 118–351), H238 [18JA] H.R. 1437 — A bill to authorize livestock producers and their employees to take black vultures in order to prevent death, injury, or destruction to livestock, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H53 [10JA], H108 [11JA], H189 [17JA], H273 [29JA], H1499 [22MR], H2629 [23AP], H2938 [7MY], H3727 [11JN], H3975 [12JN] H.R. 1439 — A bill to amend the Help America Vote Act of 2002 to allow all eligible voters to vote by mail in Federal elections, to amend the National Voter Registration Act of 1993 to provide for automatic voter registration, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2143 [5AP] H.R. 1440 — A bill to amend the Internal Revenue Code of 1986 to repeal the excise tax on heavy trucks and trailers, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H1235 [19MR], H2253 [9AP], H3330 [16MY], H4063 [13JN] H.R. 1441 — A bill to require the Bureau of Safety and Environmental Enforcement to further develop, finalize, and implement updated regulations for offshore oil and gas pipelines to address long-standing limitations regarding its ability to ensure active pipeline integrity and address safety and environmental risks associated with decommissioning, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H273 [29JA] H.R. 1444 — A bill to amend the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to provide for the consideration of climate change, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP] H.R. 1446 — A bill to amend title IV of the Social Security Act to expand foster parent training and authorize new appropriations to support the obtainment of a driver’s license; to the Committee on Ways and Means. Cosponsors added, H273 [29JA], H684 [16FE] H.R. 1447 — A bill to prohibit an employer from terminating the coverage of an employee under a group health plan while the employer is engaged in a lock-out or while the employee is engaged in a lawful strike, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE], H2291 [10AP], H2559 [19AP], H2938 [7MY], H3399 [21MY], H3526 [23MY], H3656 [4JN], H4063 [13JN] H.R. 1453 — A bill to amend title 11 of the United States Code, to allow full subrogation, including subrogation to the priority rights of the United States, of claims for the payment of customs duties; to the Committee on the Judiciary. Cosponsors added, H823 [5MR] H.R. 1458 — A bill to amend titles XVIII and XIX of the Social Security Act to provide for coverage of prescription digital therapeutics under such titles, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3274 [15MY], H3358 [17MY] H.R. 1459 — A bill to leverage incentives for the adoption of precision agriculture technology, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3727 [11JN] H.R. 1460 — A bill to require an interagency study on the environmental and energy impacts of crypto-asset mining, to assess crypto-asset mining compliance with the Clean Air Act, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1297 [20MR] H.R. 1462 — A bill to require enforcement against misbranded milk alternatives; to the Committee on Energy and Commerce. Cosponsors added, H390 [1FE], H544 [9FE], H2522 [18AP], H4063 [13JN] H.R. 1465 — A bill to amend the Animal Welfare Act to allow for the adoption or non-laboratory placement of certain animals used in Federal research, and for other purposes; to the Committee on Agriculture. Cosponsors added, H108 [11JA], H432 [5FE], H1189 [15MR], H3205 [14MY], H3681 [7JN] H.R. 1466 — A bill to amend the Public Health Service Act to prohibit research with human fetal tissue obtained pursuant to an abortion, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H366 [31JA] H.R. 1468 — A bill to amend the Internal Revenue Code of 1986 to expand and improve the earned income tax credit; to the Committee on Ways and Means. Cosponsors added, H133 [12JA] H.R. 1470 — A bill to prohibit the use of Federal funds for abortion through financial or logistical support to individuals traveling to another State or country to receive an abortion; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA] H.R. 1472 — A bill to amend the Federal Insecticide, Fungicide, and Rodenticide Act to provide for a consistent definition for plant biostimulants; to the Committee on Agriculture. Cosponsors added, H1094 [11MR] H.R. 1477 — A bill to amend the Internal Revenue Code of 1986 to permit certain expenses associated with obtaining or maintaining recognized postsecondary credentials to be treated as qualified higher education expenses for purposes of 529 accounts; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H189 [17JA], H242 [18JA], H366 [31JA], H390 [1FE], H538 [7FE], H823 [5MR], H1000 [6MR], H1034 [7MR], H1094 [11MR], H1149 [12MR], H1235 [19MR], H1297 [20MR], H2253 [9AP], H2701 [29AP], H2938 [7MY], H3330 [16MY], H3399 [21MY], H3656 [4JN], H3681 [7JN], H4115 [18JN] H.R. 1478 — A bill to modernize the business of selling firearms; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H253 [25JA], H1094 [11MR], H2253 [9AP], H4063 [13JN], H4110 [14JN] H.R. 1479 — A bill to establish the Chiricahua National Park in the State of Arizona as a unit of the National Park System, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H2629 [23AP] H.R. 1480 — A bill to authorize the National Detector Dog Training Center, and for other purposes; to the Committee on Agriculture. Cosponsors added, H432 [5FE], H2503 [17AP], H3330 [16MY] H.R. 1485 — A bill to limit the price charged by manufacturers for insulin; to the Committee on Energy and Commerce. Cosponsors added, H1149 [12MR] H.R. 1486 — A bill to amend the Federal Food, Drug, and Cosmetic Act to clarify the Food and Drug Administration’s jurisdiction over certain tobacco products, and to protect jobs and small businesses involved in the sale, manufacturing, and distribution of traditional and premium cigars; to the Committee on Energy and Commerce. Cosponsors added, H538 [7FE] H.R. 1487 — A bill to amend title 5, United States Code, to reaffirm the role of the Office of Personnel Management as the leader for civilian human resource management in the Federal Government, to encourage innovation in the Office’s management of human capital, to strengthen the Office’s ability to support Federal human capital management as a strategic priority, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H2291 [10AP] H.R. 1488 — A bill to amend title XXVII of the Public Health Service Act, the Internal Revenue Code of 1986, and the Employee Retirement Income Security Act of 1974 to establish requirements with respect to cost-sharing for certain insulin products, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H823 [5MR], H2291 [10AP], H3727 [11JN], H4063 [13JN] H.R. 1491 — A bill to amend the Small Business Investment Act of 1958 to increase the maximum loan amount for certain loans; to the Committee on Small Business. Cosponsors added, H53 [10JA], H133 [12JA], H247 [22JA], H317 [30JA], H432 [5FE], H504 [6FE], H538 [7FE], H823 [5MR], H2143 [5AP], H2629 [23AP], H3727 [11JN] H.R. 1493 — A bill to amend title XIX of the Social Security Act to require coverage of, and expand access to, home and community-based services under the Medicaid program; to award grants for the creation, recruitment, training and education, retention, and advancement of the direct care workforce and to award grants to support family caregivers, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2121 [26MR], H2875 [6MY], H4063 [13JN] H.R. 1495 — A bill to amend the Food, Conservation, and Energy Act of 2008 to establish a precision agriculture loan program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H1000 [6MR] H.R. 1499 — A bill to require small, medium, and large hub airports to certify that airport service workers are paid the prevailing wage and provided fringe benefits, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H317 [30JA] H.R. 1503 — A bill to provide for digital communication of prescribing information for drugs (including biological products), and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H582 [13FE], H3656 [4JN] H.R. 1506 — A bill to amend section 1003 of title 5, United States Code (commonly referred to as the Federal Advisory Committee Act), to prohibit the establishment of advisory committees related to environmental, social, and governance aspects; to the Committee on Oversight and Accountability. Cosponsors added, H253 [25JA] H.R. 1507 — A bill to amend title 5, United States Code, to require disclosure of conflicts of interest with respect to rulemaking, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H253 [25JA], H273 [29JA], H504 [6FE], H1034 [7MR], H2399 [15AP], H2701 [29AP], H3205 [14MY] H.R. 1509 — A bill to amend the Department of Agriculture Reorganization Act of 1994 to reauthorize the Healthy Food Financing Initiative, and for other purposes; to the Committee on Agriculture. Cosponsors added, H390 [1FE], H823 [5MR], H1094 [11MR], H2130 [29MR], H2367 [12AP], H3526 [23MY] H.R. 1510 — A bill to amend the Food and Nutrition Act of 2008 to repeal the particular work requirement that disqualifies able-bodied adults for eligibility to participate in the supplemental nutrition assistance program; to the Committee on Agriculture. Cosponsors added, H1297 [20MR], H3000 [8MY] H.R. 1511 — A bill to amend section 249 of the Immigration and Nationality Act to render available to certain long-term residents of the United States the benefit under that section; to the Committee on the Judiciary. Cosponsors added, H823 [5MR], H2143 [5AP], H3205 [14MY], H3358 [17MY] H.R. 1513 — A bill to direct the Federal Communications Commission to establish a task force to be known as the ‘‘6G Task Force’’, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1235 [19MR] Reported (H. Rept. 118–506), H3201 [14MY] H.R. 1514 — A bill to amend title 38, United States Code, to increase the rate of the special pension payable to Medal of Honor recipients, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H582 [13FE], H1355 [21MR] H.R. 1517 — A bill to authorize the Secretary of Agriculture to provide grants to States, territories, and Indian Tribes to address contamination by perfluoroalkyl and polyfluoroalkyl substances on farms, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3535 [28MY] H.R. 1520 — A bill to amend the Energy Independence and Security Act of 2007 to reauthorize the Energy Efficiency and Conservation Block Grant Program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H538 [7FE] H.R. 1521 — A bill to amend the Fair Credit Reporting Act to expand the definition of an active duty military consumer for purposes of certain credit monitoring requirements, and for other purposes; to the Committee on Financial Services. Cosponsors added, H253 [25JA] H.R. 1526 — A bill to amend title XVIII of the Social Security Act to provide hereditary cancer genetic testing for individuals with a history of a hereditary cancer gene mutation in a blood relative or a personal or ancestral history suspicious for hereditary cancer, and to provide coverage of certain cancer screenings or preventive surgeries that would reduce the risk for individuals with a germline (inherited) mutation associated with a high risk of developing a preventable cancer; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H366 [31JA], H582 [13FE], H639 [14FE], H774 [29FE], H2253 [9AP], H3358 [17MY], H3485 [22MY], H3535 [28MY], H3582 [3JN], H4115 [18JN] H.R. 1536 — A bill to amend the Internal Revenue Code of 1986 to allow employers a credit against income tax for employees who participate in qualified apprenticeship programs; to the Committee on Ways and Means, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H504 [6FE], H2143 [5AP], H2629 [23AP], H2831 [1MY], H2938 [7MY] H.R. 1538 — A bill to amend the Small Business Act to provide for contracting preferences and other benefits for emerging business enterprises, and for other purposes; to the Committee on Small Business. Cosponsors added, H273 [29JA], H582 [13FE], H693 [23FE], H1149 [12MR], H3543 [31MY], H3975 [12JN] H.R. 1540 — A bill to establish a means-tested assistance program for national flood insurance program policyholders, and for other purposes; to the Committee on Financial Services. Cosponsors added, H366 [31JA] H.R. 1555 — A bill to designate the facility of the United States Postal Service located at 2300 Sylvan Avenue in Modesto, California, as the ‘‘Corporal Michael D. Anderson Jr. Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H133 [12JA], H684 [16FE] Rules suspended. Passed House, H3557 [3JN] Text, H3558 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 1556 — A bill to amend the Federal Water Pollution Control Act to modify the definition of navigable waters, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H697 [26FE] H.R. 1565 — A bill to amend title XVIII of the Social Security Act to remove the 96-hour physician certification requirement for inpatient critical access hospital services; to the Committee on Ways and Means. Cosponsors added, H639 [14FE] H.R. 1568 — A bill to amend the Tariff Act of 1930 to protect personally identifiable information, and for other purposes; to the Committee on Ways and Means. Text, H137 [16JA] Message from the House, S201 [22JA], S441 [7FE] Passed Senate, S322 [31JA] Message from the Senate (received February 1, 2024), H394 [5FE] Examined and signed in the House, H534 [7FE] Examined and signed in the Senate, S441 [7FE] Presented to the President (February 8, 2024), H578 [13FE] Approved [Public Law 118–39] (signed February 9, 2024) H.R. 1572 — A bill to award a Congressional Gold Medal to the female telephone operators of the Army Signal Corps, known as the ‘‘Hello Girls’’; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H189 [17JA], H273 [29JA], H582 [13FE], H781 [1MR], H1000 [6MR], H1094 [11MR], H1182 [13MR], H1235 [19MR], H1297 [20MR], H2253 [9AP], H2701 [29AP], H2938 [7MY], H3000 [8MY], H3007 [10MY], H3205 [14MY], H3274 [15MY], H3358 [17MY], H3399 [21MY], H3485 [22MY], H3526 [23MY], H3543 [31MY], H3582 [3JN], H3656 [4JN], H4063 [13JN] H.R. 1582 — A bill to amend the Internal Revenue Code of 1986 to treat certain amounts paid for physical activity, fitness, and exercise as amounts paid for medical care; to the Committee on Ways and Means. Cosponsors added, H108 [11JA], H504 [6FE], H823 [5MR], H1000 [6MR], H1149 [12MR], H2253 [9AP], H2318 [11AP], H2367 [12AP], H2445 [16AP], H2701 [29AP], H2771 [30AP], H2875 [6MY], H3000 [8MY], H3007 [10MY], H3274 [15MY], H3656 [4JN], H3727 [11JN], H4110 [14JN] H.R. 1583 — A bill to amend title 18, United States Code, to prohibit interfering with voter registration, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2130 [29MR] H.R. 1584 — A bill to establish Plum Island, New York, as a national monument; to the Committee on Natural Resources. Cosponsors added, H2253 [9AP], H2445 [16AP], H2636 [26AP], H2701 [29AP] H.R. 1588 — A bill to establish an AmeriCorps Administration to carry out the national and volunteer service programs, to expand participation in such programs, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, Natural Resources, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE] H.R. 1591 — A bill to amend section 7014 of the Elementary and Secondary Education Act of 1965 to advance toward full Federal funding for impact aid, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1149 [12MR], H1499 [22MR], H2503 [17AP], H3330 [16MY], H3485 [22MY] H.R. 1598 — A bill to amend the Fair Labor Standards Act of 1938 to prohibit discrimination in the payment of wages on account of sex, race, or national origin, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2253 [9AP] H.R. 1610 — A bill to amend title XVIII of the Social Security Act to provide Medicare coverage for all physicians’ services furnished by doctors of chiropractic within the scope of their license, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H133 [12JA], H273 [29JA], H390 [1FE], H432 [5FE], H582 [13FE], H774 [29FE], H1058 [8MR], H2253 [9AP], H2399 [15AP], H2503 [17AP], H3399 [21MY], H3727 [11JN] H.R. 1613 — A bill to amend title XIX of the Social Security Act to improve transparency and prevent the use of abusive spread pricing and related practices in the Medicaid program; to the Committee on Energy and Commerce. Cosponsors added, H2503 [17AP], H4115 [18JN] H.R. 1617 — A bill to amend title XVIII of the Social Security Act to add physical therapists to the list of providers allowed to utilize locum tenens arrangements under Medicare; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H781 [1MR], H1189 [15MR], H2130 [29MR], H3485 [22MY] H.R. 1619 — A bill to amend the Richard B. Russell National School Lunch Act to require schools to provide fluid milk substitutes upon request of a student or the parent or guardian of such student, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2143 [5AP], H2503 [17AP], H2559 [19AP], H2771 [30AP], H2875 [6MY], H3530 [24MY], H3727 [11JN] H.R. 1623 — A bill to amend the Homeland Security Act of 2002 to exclude certain propane storage facilities from certain chemical security standards under the Department of Homeland Security, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA] H.R. 1624 — A bill to amend the Animal Welfare Act to provide for the humane treatment of dogs, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3485 [22MY] H.R. 1626 — A bill to amend the Higher Education Act of 1965 to provide for certain freedom of association protections, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2938 [7MY] H.R. 1628 — A bill to authorize the regulation of interstate commerce with respect to food containing cannabidiol derived from hemp, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H681 [15FE] H.R. 1629 — A bill to make hemp, cannabidiol derived from hemp, and any other ingredient derived from hemp lawful for use under the Federal Food, Drug, and Cosmetic Act as a dietary ingredient in a dietary supplement, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1355 [21MR] H.R. 1631 — A bill to amend title 17, United States Code, to reaffirm the importance of, and include requirements for, works incorporated by reference into law, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1235 [19MR] H.R. 1632 — A bill to eliminate taxpayer funding for the partisan broadcasting outlets known as National Public Radio and the Public Broadcasting Service, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2399 [15AP], H2445 [16AP], H2503 [17AP], H2559 [19AP], H2623 [20AP], H2831 [1MY] H.R. 1634 — A bill to amend title XIX of the Social Security Act to cover physician services delivered by podiatric physicians to ensure access by Medicaid beneficiaries to appropriate quality foot and ankle care, to amend title XVIII of such Act to modify the requirements for diabetic shoes to be included under Medicare, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP], H4063 [13JN] H.R. 1637 — A bill to recommend that the Center for Medicare and Medicaid Innovation test the effect of a dementia care management model, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE], H3399 [21MY], H3975 [12JN] H.R. 1638 — A bill to amend title XVIII of the Social Security Act to improve access to mental health services under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H697 [26FE], H2636 [26AP], H3485 [22MY], H3675 [5JN] H.R. 1639 — A bill to direct the Secretary of Veterans Affairs to establish the Zero Suicide Initiative pilot program of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, H823 [5MR], H1034 [7MR] H.R. 1641 — A bill to amend title 39, United States Code, to enhance the administrative subpoena authority of the United States Postal Service, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H738 [28FE] H.R. 1643 — A bill to establish the National Office of New Americans, to reduce obstacles to United States citizenship, to support the integration of immigrants into the social, cultural, economic, and civic life of the United States, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Education and the Workforce, House Administration, Foreign Affairs, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2136 [2AP], H3358 [17MY] H.R. 1649 — A bill to direct the Attorney General to establish a grant program to provide for the qualified accreditation and re-certification of local law enforcement agencies, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H273 [29JA], H2636 [26AP] H.R. 1656 — A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for charitable donations to nonprofit organizations providing workforce training; to the Committee on Ways and Means. Cosponsors added, H253 [25JA] H.R. 1666 — A bill to amend title XVIII to protect patient access to ground ambulance services under part B of the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H823 [5MR], H2559 [19AP], H2629 [23AP], H2636 [26AP], H2938 [7MY], H3330 [16MY], H3485 [22MY], H3675 [5JN], H3681 [7JN] H.R. 1668 — A bill to amend title 23, United States Code, with respect to the highway safety improvement program, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H273 [29JA], H823 [5MR], H1058 [8MR], H1094 [11MR], H1297 [20MR], H1355 [21MR], H2121 [26MR], H2253 [9AP], H2318 [11AP], H2445 [16AP], H3330 [16MY], H3358 [17MY], H3485 [22MY], H3975 [12JN] H.R. 1671 — A bill to allow additional individuals to enroll in standalone dental plans offered through Federal Exchanges; to the Committee on Energy and Commerce. Cosponsors added, H693 [23FE], H1297 [20MR], H2399 [15AP], H3205 [14MY], H3582 [3JN], H3681 [7JN], H3975 [12JN] H.R. 1679 — A bill to prohibit stock trading and ownership by Members of Congress and spouses of Members of Congress, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Agriculture, House Administration, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H1297 [20MR], H2318 [11AP] H.R. 1685 — A bill to amend the Internal Revenue Code of 1986 to provide a credit for the purchase of certain new electric bicycles; to the Committee on Ways and Means. Cosponsors added, H242 [18JA], H432 [5FE], H2399 [15AP], H3727 [11JN] H.R. 1686 — A bill to amend the Consumer Product Safety Act to strike provisions that limit the disclosure of certain information by the Consumer Product Safety Commission; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA] H.R. 1687 — A bill to designate the facility of the United States Postal Service located at 6444 San Fernando Road in Glendale, California, as the ‘‘Paul Ignatius Post Office’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3554 [3JN] Text, H3554 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 1691 — A bill to amend title XVIII of the Social Security Act to ensure prompt coverage of breakthrough devices under the Medicare program, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE], H2136 [2AP], H2623 [20AP], H3274 [15MY], H3399 [21MY], H3582 [3JN], H3675 [5JN] H.R. 1692 — A bill to amend the Internal Revenue Code of 1986 to improve affordability and reduce premium costs of health insurance for consumers; to the Committee on Ways and Means. Cosponsors added, H366 [31JA], H3485 [22MY], H3526 [23MY], H3582 [3JN], H3656 [4JN], H3727 [11JN], H4063 [13JN] H.R. 1694 — A bill to amend titles XVIII and XIX of the Social Security Act to provide for coverage of services furnished by freestanding emergency centers; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H1034 [7MR], H1189 [15MR], H1355 [21MR], H2143 [5AP], H2629 [23AP] H.R. 1695 — A bill to improve the visibility, accountability, and oversight of agency software asset management practices, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H2253 [9AP], H3543 [31MY] H.R. 1697 — A bill to enhance the participation of precision agriculture in the United States, and for other purposes; to the Committee on Agriculture. Cosponsors added, H738 [28FE] H.R. 1698 — A bill to amend the Immigration and Nationality Act to promote family unity, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H544 [9FE], H2367 [12AP], H4115 [18JN] H.R. 1699 — A bill to establish the Office of Gun Violence Prevention, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H738 [28FE], H2831 [1MY] H.R. 1700 — A bill to amend the Internal Revenue Code of 1986 to require the Bureau of Alcohol, Tobacco, Firearms, and Explosives to establish an administrative relief process for individuals whose applications for transfer and registration of a firearm were denied, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H390 [1FE], H2136 [2AP] H.R. 1701 — A bill to prohibit discrimination in higher education against certain noncitizen students on the basis of immigration status, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3526 [23MY] H.R. 1703 — A bill to direct the Administrator of the Transportation Security Administration to prohibit the use of certain identification documents at airport security checkpoints, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H14 [9JA], H242 [18JA], H2629 [23AP] H.R. 1705 — A bill to restore, reaffirm, and reconcile environmental justice and civil rights, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Natural Resources, the Judiciary, Transportation and Infrastructure, Agriculture, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H432 [5FE], H1094 [11MR], H1189 [15MR], H1355 [21MR], H3582 [3JN], H3727 [11JN], H4115 [18JN] H.R. 1716 — A bill to amend title 49, United States Code, to require certain air carriers to provide reports with respect to maintenance, preventive maintenance, or alterations, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H14 [9JA], H53 [10JA], H148 [16JA], H432 [5FE], H1182 [13MR], H2291 [10AP] H.R. 1719 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide public safety officer benefits for exposure-related cancers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H253 [25JA], H317 [30JA], H538 [7FE], H684 [16FE], H1058 [8MR], H1189 [15MR], H2503 [17AP], H2771 [30AP], H3656 [4JN] H.R. 1721 — A bill to amend the Consolidated Farm and Rural Development Act to establish a grant program to assist with the purchase, installation, and maintenance of point-of-entry and point-of-use drinking water quality improvement products, and for other purposes; to the Committee on Agriculture. Cosponsors added, H53 [10JA], H1355 [21MR], H3330 [16MY], H3535 [28MY], H3727 [11JN], H4110 [14JN] H.R. 1722 — A bill to amend the Grand Ronde Reservation Act, and for other purposes; to the Committee on Natural Resources. Message from the House (received December 22, 2023, during adjournment), S15 [8JA] Examined and signed in the Senate (December 26, 2023, during adjournment), S15 [8JA] Approved [Public Law 118–32] (signed December 26, 2023) H.R. 1724 — A bill to counter the spread of the LOGINK logistics information platform, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Armed Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3330 [16MY] H.R. 1727 — A bill to amend the Chesapeake and Ohio Canal Development Act to extend the Chesapeake and Ohio Canal National Historical Park Commission; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–363), H314 [30JA] Text, H396 [5FE] Rules suspended. Passed House amended, H483 [6FE] Message from the House, S441 [7FE] Placed on the calendar, S441 [7FE] H.R. 1728 — A bill to establish the Agent Orange Veterans Service Medal; to the Committee on Armed Services. Cosponsors added, H3530 [24MY] H.R. 1729 — A bill to establish a trust fund to provide for adequate funding for water and sewer infrastructure, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Energy and Commerce, Ways and Means, Agriculture, Natural Resources, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H639 [14FE], H823 [5MR], H2253 [9AP] H.R. 1731 — A bill to amend the Higher Education Act of 1965 to double the Pell Grant award amount, improve the Public Service Loan Forgiveness program, and reduce interest rates, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE] H.R. 1734 — A bill to require coordinated National Institute of Standards and Technology science and research activities regarding illicit drugs containing xylazine novel synthetic opioids, and other substances of concern, and for other purposes; to the Committee on Science, Space, and Technology. Approved [Public Law 118–23] (signed December 19, 2023) H.R. 1737 — A bill to direct the Secretary of Health and Human Services to establish the Emergency Medical Services (EMS) Grant Program through which the Secretary may make grants to qualified applicants, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H273 [29JA], H504 [6FE], H1149 [12MR] H.R. 1740 — A bill to amend the Water Infrastructure Finance and Innovation Act of 2014 to establish payment and performance security requirements for projects, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE], H2367 [12AP], H2938 [7MY], H3535 [28MY] H.R. 1741 — A bill to amend the Elementary and Secondary Education Act of 1965 to decrease the frequency of standardized tests administered to students in grades 3 through 12, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H189 [17JA] H.R. 1742 — A bill to index the maximum value of Federal Pell Grants to inflation; to the Committee on Education and the Workforce. Cosponsors added, H3681 [7JN] H.R. 1744 — A bill to require the Small Business Administration to disaggregate data on Federal contracts awarded to small business concerns owned and controlled by socially and economically disadvantaged individuals in certain reports, and for other purposes; to the Committee on Small Business. Cosponsors added, H738 [28FE] H.R. 1747 — A bill to provide a safe harbor from licensing and registration for certain non-controlling blockchain developers and providers of blockchain services; to the Committee on Financial Services. Cosponsors added, H14 [9JA] Reported with amendment (H. Rept. 118–486), H2873 [6MY] H.R. 1750 — A bill to modify minimum required weight of orange juice soluble solids; to the Committee on Energy and Commerce. Cosponsors added, H1297 [20MR], H2130 [29MR], H2399 [15AP] H.R. 1752 — A bill to amend the Public Works and Economic Development Act of 1965 to provide for a high-speed broadband deployment initiative; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Text, H1074 [11MR] Rules suspended. Passed House amended, H1079 [11MR] Message from the House, S2364 [12MR] Referred to the Committee on Environment and Public Works, S2364 [12MR] H.R. 1753 — A bill to ensure that certain members of the Armed Forces who served in female cultural support teams receive proper credit for such service; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2130 [29MR] H.R. 1754 — A bill to amend title XI of the Social Security Act to provide for the disclosure and analysis of certain health-related ownership information; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA] H.R. 1755 — A bill to authorize the extension of nondiscriminatory treatment (normal trade relations treatment) to products of Uzbekistan; to the Committee on Ways and Means. Cosponsors added, H108 [11JA] H.R. 1760 — A bill to extend the admission to Guam or the Commonwealth of the Northern Mariana Islands for certain nonimmigrant H2B workers; to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY] H.R. 1762 — A bill to provide for operations of the Federal Columbia River Power System pursuant to a certain operation plan for a specified period of time, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE] H.R. 1763 — A bill to amend the Food and Nutrition Act of 2008 to exclude from income for purposes of eligibility for the supplemental nutrition assistance program the basic allowance for housing received by members of the uniformed services; to the Committee on Agriculture. Cosponsors added, H1034 [7MR], H1297 [20MR], H2143 [5AP], H3656 [4JN] H.R. 1764 — A bill to amend title 37, United States Code, to exclude the basic allowance for housing from the calculation of gross household income for purposes of the basic needs allowance for eligible members of the Armed Forces; to the Committee on Armed Services. Cosponsors added, H823 [5MR], H3975 [12JN] H.R. 1767 — A bill to amend title 38, United States Code, to provide that educational assistance paid under the Department of Veterans Affairs educational assistance programs to an individual who pursued a program or course of education that was suspended or terminated for certain reasons shall not be charged against the entitlement of the individual, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H823 [5MR], H1235 [19MR], H2367 [12AP], H2445 [16AP] Text, H2696 [29AP] Rules suspended. Passed House amended, H2716 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Veterans’ Affairs, S3130 [1MY] H.R. 1768 — A bill to replace the National Istitute of Allergy and Infectious Diseases with 3 separate national research institutes; to the Committee on Energy and Commerce. Cosponsors added, H247 [22JA] H.R. 1770 — A bill to amend title XVIII of the Social Security Act to provide pharmacy payment of certain services; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H108 [11JA], H189 [17JA], H432 [5FE], H688 [20FE], H738 [28FE], H1182 [13MR], H1235 [19MR], H1355 [21MR], H1499 [22MR], H2253 [9AP], H2291 [10AP], H2318 [11AP], H2445 [16AP], H2636 [26AP], H3530 [24MY], H3675 [5JN], H3975 [12JN] H.R. 1774 — A bill to amend title 38, United States Code, to reimburse veterans for the cost of emergency medical transportation to a Federal facility, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H253 [25JA], H544 [9FE], H1235 [19MR], H2121 [26MR], H3727 [11JN] H.R. 1775 — A bill to require certain bureaus of the Department of State and the United States Agency for International Development to release quarterly reviews of certain grants, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H774 [29FE], H781 [1MR], H1149 [12MR] H.R. 1776 — A bill to prevent, treat, and cure tuberculosis globally; to the Committee on Foreign Affairs. Cosponsors added, H133 [12JA], H2136 [2AP], H2836 [2MY], H3485 [22MY], H3727 [11JN] H.R. 1781 — A bill to amend the Public Health Service Act with respect to the designation of general surgery shortage areas, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H697 [26FE], H2875 [6MY] H.R. 1784 — A bill to amend the National Telecommunications and Information Administration Organization Act to provide for further deployment and coordination of Next Generation 9-1-1, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1235 [19MR] H.R. 1785 — A bill to amend the Internal Revenue Code of 1986 to modify the rehabilitation credit for certain small projects, to eliminate the requirement that the taxpayer’s basis in a building be reduced by the amount of the rehabilitation credit determined with respect to such building, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H247 [22JA], H693 [23FE], H1094 [11MR], H1189 [15MR], H1297 [20MR], H2143 [5AP], H2367 [12AP], H3727 [11JN] H.R. 1787 — A bill to amend the Immigration and Nationality Act to provide nonimmigrant status to mobile entertainment workers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H317 [30JA], H544 [9FE], H681 [15FE], H823 [5MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1297 [20MR], H2291 [10AP], H2367 [12AP], H2559 [19AP], H2701 [29AP], H2875 [6MY], H3000 [8MY], H3205 [14MY], H3358 [17MY], H3485 [22MY], H3656 [4JN], H3681 [7JN], H3975 [12JN], H4063 [13JN], H4110 [14JN] H.R. 1788 — A bill to amend the Animal Welfare Act to increase enforcement with respect to violations of that Act, and for other purposes; to the Committee on Agriculture. Cosponsors added, H148 [16JA], H242 [18JA], H247 [22JA], H273 [29JA], H317 [30JA], H432 [5FE], H582 [13FE], H738 [28FE], H774 [29FE], H823 [5MR], H1000 [6MR], H1189 [15MR], H2399 [15AP], H3330 [16MY], H3526 [23MY] H.R. 1792 — A bill to amend the South Pacific Tuna Act of 1988, and for other purposes; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–429), H1352 [21MR] Rules suspended. Passed House amended, H2157 [9AP] Text, H2157 [9AP] Message from the House, S2704 [10AP] Referred to the Committee on Commerce, Science, and Transportation, S2704 [10AP] H.R. 1793 — A bill to reserve any amounts forfeited to the United States Government as a result of the criminal prosecution of Joaquin Archivaldo Guzman Loera (commonly known as ‘‘El Chapo’’), or of other felony convictions involving the transportation of controlled substances into the United States, for security measures along the Southern border, including the completion of a border wall; to the Committee on the Judiciary. Cosponsors added, H3330 [16MY] H.R. 1794 — A bill to require the Secretary of the Treasury to mint coins in commemoration of the 2028 Olympic and Paralympic Games in Los Angeles, California; to the Committee on Financial Services. Cosponsors added, H774 [29FE], H1149 [12MR], H2503 [17AP] H.R. 1795 — A bill to amend the Internal Revenue Code of 1986 to allow qualified distributions from health savings accounts for certain home care expenses; to the Committee on Ways and Means. Cosponsors added, H1182 [13MR] H.R. 1796 — A bill to improve individual assistance provided by the Federal Emergency Management Agency, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Financial Services, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported with amendment from the Committee on Transportation and Infrastructure (H. Rept. 118–390, part 1), H637 [14FE] Committees on Financial Services; Small Business discharged, H637 [14FE] H.R. 1797 — A bill to require the Consumer Product Safety Commission to promulgate a consumer product safety standard with respect to rechargeable lithium-ion batteries used in micromobility devices, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H639 [14FE], H684 [16FE], H738 [28FE], H2130 [29MR] Reported with amendment (H. Rept. 118–446), H2140 [5AP] Text, H3031 [14MY] Rules suspended. Passed House amended, H3256 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on Commerce, Science, and Transportation, S3752 [16MY] H.R. 1801 — A bill to enhance the consideration of human rights in arms exports; to the Committee on Foreign Affairs, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H781 [1MR] H.R. 1803 — A bill to amend the Federal Food, Drug, and Cosmetic Act to define the term natural cheese; to the Committee on Energy and Commerce. Cosponsors added, H366 [31JA] H.R. 1806 — A bill to amend the Equal Credit Opportunity Act to modify the requirements associated with small business loan data collection, and for other purposes; to the Committee on Financial Services. Cosponsors added, H108 [11JA], H1297 [20MR], H2253 [9AP], H2318 [11AP], H2559 [19AP], H3000 [8MY], H3205 [14MY], H3485 [22MY], H3526 [23MY], H3727 [11JN], H4063 [13JN] H.R. 1809 — A bill to require the development of strategies and options to prevent the export to Iran of certain technologies related to unmanned aircraft systems, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2136 [2AP], H2399 [15AP] H.R. 1810 — A bill to require the Bureau of Consumer Financial Protection to issue a rule before deleting or modifying certain small business loan data, and for other purposes; to the Committee on Financial Services. Cosponsors added, H53 [10JA], H2522 [18AP], H3000 [8MY], H4063 [13JN] H.R. 1812 — A bill to require the Federal Communications Commission to reform the contribution system of the Universal Service Fund, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H108 [11JA], H2938 [7MY] H.R. 1814 — A bill to provide grants for fire station construction through the Administrator of the Federal Emergency Management Agency, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA], H774 [29FE], H1058 [8MR], H2503 [17AP], H3656 [4JN] H.R. 1815 — A bill to require the Secretary of Veterans Affairs to carry out a pilot program to provide assisted living services to eligible veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H242 [18JA], H247 [22JA], H273 [29JA], H639 [14FE], H1094 [11MR], H1297 [20MR], H1355 [21MR], H1499 [22MR], H3582 [3JN], H3656 [4JN] H.R. 1818 — A bill to amend the Internal Revenue Code of 1986 to allow qualified distributions from qualified tuition programs for certain aviation maintenance and commercial pilot courses; to the Committee on Ways and Means. Cosponsors added, H242 [18JA], H390 [1FE], H639 [14FE], H681 [15FE], H1499 [22MR], H3205 [14MY], H3330 [16MY] H.R. 1822 — A bill to amend title 38, United States Code, to improve the review of claims for benefits under laws administered by the Secretary of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, H133 [12JA], H2445 [16AP], H2522 [18AP], H2701 [29AP], H2938 [7MY], H3000 [8MY], H3485 [22MY], H3656 [4JN] Removal of cosponsors, H3358 [17MY] H.R. 1823 — A bill to designate the facility of the United States Postal Service located at 207 East Fort Dade Avenue in Brooksville, Florida, as the ‘‘Specialist Justin Dean Coleman Memorial Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H366 [31JA], H582 [13FE], H823 [5MR] Rules suspended. Passed House, H3558 [3JN] Text, H3559 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 1824 — A bill to reform the safety net for farmers and ranchers, enhance soil, water, and habitat conservation, encourage beginning farmers and ranchers, strengthen nutrition for Americans, support agriculture research and innovation, reduce food waste, improve animal welfare, and invest in regional food systems, and for other purposes; to the Committee on Agriculture, and in addition to the Committees on Ways and Means, Education and the Workforce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA] H.R. 1826 — A bill to amend title XXVII of the Public Health Service Act to require group health plans and health insurance issuers offering group or individual health insurance coverage to provide coverage for prostate cancer screenings without the imposition of cost-sharing requirements, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA], H781 [1MR], H1094 [11MR], H1235 [19MR], H1355 [21MR], H2121 [26MR], H2143 [5AP], H2291 [10AP], H2318 [11AP], H2367 [12AP], H2445 [16AP], H3000 [8MY], H3582 [3JN], H3727 [11JN] H.R. 1828 — A bill to protect victims of crime or serious labor violations from removal during Department of Homeland Security enforcement actions, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2253 [9AP] H.R. 1829 — A bill to require the Secretary of Agriculture to convey the Pleasant Valley Ranger District Administrative Site to Gila County, Arizona; to the Committee on Natural Resources. Cosponsors added, H432 [5FE] Reported with amendment (H. Rept. 118–430), H1352 [21MR] Rules suspended. Passed House amended, H2161 [9AP] Text, H2161 [9AP] Message from the House, S2704 [10AP] Placed on the calendar, S2704 [10AP] H.R. 1831 — A bill to award a Congressional Gold Medal to Billie Jean King, an American icon, in recognition of a remarkable life devoted to championing equal rights for all, in sports and in society; to the Committee on Financial Services. Cosponsors added, H53 [10JA], H108 [11JA], H148 [16JA], H242 [18JA], H273 [29JA], H544 [9FE], H582 [13FE], H639 [14FE], H681 [15FE], H688 [20FE], H693 [23FE], H774 [29FE], H1189 [15MR], H1236 [19MR], H2318 [11AP], H2445 [16AP], H2503 [17AP], H2559 [19AP], H2629 [23AP], H2636 [26AP], H2831 [1MY], H2836 [2MY], H2875 [6MY], H2938 [7MY], H3000 [8MY], H3007 [10MY], H3274 [15MY], H3358 [17MY], H3399 [21MY], H3485 [22MY], H3526 [23MY], H3543 [31MY], H3582 [3JN], H3656 [4JN], H3681 [7JN], H3727 [11JN], H3975 [12JN] H.R. 1832 — A bill to amend the Afghan Allies Protection Act to provide special immigrant visas to certain Fulbright Scholars, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2143 [5AP] H.R. 1833 — A bill to establish in the Bureau of Democracy, Human Rights, and Labor of the Department of State a Special Envoy for the Human Rights of LGBTQI+ Peoples, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H273 [29JA], H432 [5FE], H738 [28FE], H1355 [21MR] H.R. 1834 — A bill to direct the Secretary of Labor to award grants to develop, administer, and evaluate early childhood education apprenticeships, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H3526 [23MY] H.R. 1836 — A bill to amend title 46, United States Code, to make technical corrections with respect to ocean shipping authorities, and for other purposes; to the Committee on Transportation and Infrastructure. Text, H1213 [19MR] Rules suspended. Passed House amended, H1321 [21MR] Message from the House, S2591 [22MR] Referred to the Committee on Commerce, Science, and Transportation, S2591 [22MR] H.R. 1837 — A bill to amend the Internal Revenue Code of 1986 to reinstate advance refunding bonds; to the Committee on Ways and Means. Cosponsors added, H253 [25JA] H.R. 1838 — A bill to prohibit the application of certain restrictive eligibility requirements to foreign nongovernmental organizations with respect to the provision of assistance under part I of the Foreign Assistance Act of 1961; to the Committee on Foreign Affairs. Cosponsors added, H317 [30JA], H432 [5FE], H4115 [18JN] H.R. 1839 — A bill to prohibit certain uses of xylazine, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H1000 [6MR], H3543 [31MY] H.R. 1840 — A bill to address the impact of climate change on agriculture, and for other purposes; to the Committee on Agriculture, and in addition to the Committees on Education and the Workforce, Energy and Commerce, House Administration, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H823 [5MR], H1355 [21MR] H.R. 1841 — A bill to amend title II of the Social Security Act to establish a disability benefit offset for Purple Heart recipients, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H3656 [4JN] H.R. 2365 — A bill to direct the Secretary of Health and Human Services to carry out a national project to prevent and cure Parkinson’s, to be known as the National Parkinson’s Project, and for other purposes; to the Committee on Energy and Commerce. Committee discharged. Passed Senate, S3897 [23MY] Message from the Senate (received May 30, 2024), H3537 [31MY] H.R. 2367 — A bill to amend title 23, United States Code, to establish a competitive grant program for projects for commercial motor vehicle parking, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H53 [10JA], H108 [11JA], H823 [5MR], H1355 [21MR], H3205 [14MY] H.R. 2369 — A bill to amend the Federal Food, Drug, and Cosmetic Act with respect to in vitro clinical tests, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1355 [21MR] H.R. 2370 — A bill to authorize the Secretary of Health and Human Services to award grants to eligible entities to develop and implement a comprehensive program to promote student access to defibrillation in public elementary schools and secondary schools; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H639 [14FE], H1094 [11MR], H2636 [26AP], H2875 [6MY], H3007 [10MY], H3205 [14MY], H3582 [3JN], H3656 [4JN] H.R. 2371 — A bill to ensure that older adults and individuals with disabilities are prepared for disasters, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Education and the Workforce, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H2831 [1MY] H.R. 2374 — A bill to reform the process for enforcing the immigration laws of the United States, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2253 [9AP] H.R. 2377 — A bill to amend title XVIII of the Social Security Act to improve the accuracy of market-based Medicare payment for clinical diagnostic laboratory services, to reduce administrative burdens in the collection of data, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE], H693 [23FE], H774 [29FE], H2253 [9AP], H2629 [23AP], H2771 [30AP], H3205 [14MY], H3330 [16MY], H4115 [18JN] H.R. 2379 — A bill to designate the facility of the United States Postal Service located at 616 East Main Street in St. Charles, Illinois, as the ‘‘Veterans of the Vietnam War Memorial Post Office’’; to the Committee on Oversight and Accountability. Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Message from the House, S3129 [1MY] Examined and signed in the House, H2825 [1MY] Examined and signed in the Senate, S3129 [1MY] Presented to the President (May 1, 2024), H2994 [8MY] Approved [Public Law 118–54] (signed May 7, 2024) H.R. 2381 — A bill to nullify the termination of the Fulbright exchange program with regard to China and Hong Kong with respect to future exchanges for participants traveling both from and to China or Hong Kong, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H738 [28FE] H.R. 2382 — A bill to amend title 5, United States Code, to designate September 11 Day of Remembrance as a legal public holiday; to the Committee on Oversight and Accountability. Cosponsors added, H432 [5FE] H.R. 2386 — A bill to amend the Farm Security and Rural Investment Act of 2002 to improve assistance to community wood facilities, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2636 [26AP] H.R. 2389 — A bill to amend title XVIII of the Social Security Act to provide for the distribution of additional residency positions, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H738 [28FE], H2503 [17AP], H3530 [24MY] H.R. 2390 — A bill to authorize the appropriation of funds to the Centers for Disease Control and Prevention for conducting or supporting research on firearms safety or gun violence prevention; to the Committee on Energy and Commerce. Cosponsors added, H1000 [6MR], H3399 [21MY] H.R. 2393 — A bill to require the Secretary of Homeland Security to implement a strategy to combat the efforts of transnational criminal organizations to recruit individuals in the United States via social media platforms and other online services and assess their use of such platforms and services for illicit activities, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Homeland Security, Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2831 [1MY] H.R. 2394 — A bill to protect airline crew members, security screening personnel, and passengers by banning abusive passengers from commercial aircraft flights, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H781 [1MR], H1094 [11MR], H2253 [9AP], H2318 [11AP], H3485 [22MY] H.R. 2395 — A bill to amend the Fair Labor Standards Act of 1938 to establish a minimum salary threshold for bona fide executive, administrative, and professional employees exempt from Federal overtime compensation requirements, and automatically update such threshold each year, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H681 [15FE], H1499 [22MR], H3000 [8MY] H.R. 2400 — A bill to amend title XIX of the Social Security Act to allow States to make medical assistance available to inmates during the 30-day period preceding their release; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA], H317 [30JA], H538 [7FE], H582 [13FE], H774 [29FE], H1000 [6MR], H2875 [6MY], H3399 [21MY], H3727 [11JN], H4063 [13JN] H.R. 2401 — A bill to amend the Higher Education Act of 1965 to provide students with disabilities and their families with access to critical information needed to select the right college and succeed once enrolled; to the Committee on Education and the Workforce. Cosponsors added, H253 [25JA], H738 [28FE] H.R. 2402 — A bill to amend the Toxic Substances Control Act to prohibit the manufacture, processing, use, and distribution in commerce of commercial asbestos and mixtures and articles containing commercial asbestos, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2253 [9AP] H.R. 2403 — A bill to amend chapter 44 of title 18, United States Code, to strengthen the background check procedures to be followed before a Federal firearms licensee may transfer a firearm to a person who is not such a licensee; to the Committee on the Judiciary. Cosponsors added, H1236 [19MR], H3205 [14MY], H4063 [13JN] H.R. 2406 — A bill to amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H133 [12JA], H504 [6FE], H2559 [19AP], H3582 [3JN] H.R. 2407 — A bill to amend title XVIII of the Social Security Act to provide for Medicare coverage of multi-cancer early detection screening tests; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H317 [30JA], H432 [5FE], H504 [6FE], H688 [20FE], H774 [29FE], H1034 [7MR], H1355 [21MR], H2445 [16AP], H2559 [19AP], H2629 [23AP], H2938 [7MY], H3007 [10MY], H3330 [16MY], H3485 [22MY], H3582 [3JN], H3975 [12JN], H4063 [13JN] H.R. 2410 — A bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to provide administrative support to providers of dental care who provide such care to veterans that is not furnished under such title, to direct the Secretary of Veterans Affairs to establish a pilot program for the provision of dental care to certain veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H366 [31JA], H774 [29FE], H1034 [7MR], H2291 [10AP], H2445 [16AP] H.R. 2411 — A bill to amend the Public Health Service Act to support and stabilize the existing nursing workforce, establish programs to increase the number of nurses, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE], H2636 [26AP], H3000 [8MY] H.R. 2412 — A bill to amend the Public Health Service Act to authorize grants to increase national capacity to provide pediatric behavioral health services at children’s hospitals and through community-based providers to improve children’s access to care; and to authorize grants to begin to address large numbers of children boarding in emergency departments, to support the pediatric behavioral health workforce, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H366 [31JA], H504 [6FE], H2636 [26AP], H2831 [1MY], H3399 [21MY] H.R. 2413 — A bill to amend title 38, United States Code, to require the Secretary of Veterans Affairs to furnish dental care in the same manner as any other medical service, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H53 [10JA], H189 [17JA], H253 [25JA], H317 [30JA], H681 [15FE], H738 [28FE], H1034 [7MR], H1499 [22MR], H2318 [11AP], H2367 [12AP], H2503 [17AP], H2629 [23AP], H2875 [6MY], H3205 [14MY], H3330 [16MY], H3535 [28MY], H3582 [3JN], H3681 [7JN], H3727 [11JN], H4063 [13JN], H4115 [18JN] H.R. 2414 — A bill to amend title 38, United States Code, to increase the maximum age for children eligible for medical care under the CHAMPVA program, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H14 [9JA] H.R. 2422 — A bill to amend the CALM Act to include video streaming services, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H1355 [21MR], H2318 [11AP], H2875 [6MY] H.R. 2424 — A bill to amend the Child Nutrition Act of 1966 to permit video or telephone certifications in the special supplemental nutrition program for women, infants, and children, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2136 [2AP], H2143 [5AP], H3526 [23MY] H.R. 2426 — A bill to amend part E of title IV of the Social Security Act to require the Secretary of Health and Human Services to identify obstacles to identifying and responding to reports of children missing from foster care and other vulnerable foster youth, to provide technical assistance relating to the removal of such obstacles, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H253 [25JA] Reported with amendment (H. Rept. 118–385), H580 [13FE] H.R. 2429 — A bill to establish the Open Access Evapotranspiration (OpenET) Data Program; to the Committee on Natural Resources. Cosponsors added, H3358 [17MY] H.R. 2433 — A bill to amend title XVIII of the Social Security Act to update the calculation of the hospital specific rate for such hospitals, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H2367 [12AP] H.R. 2434 — A bill to promote low-carbon, high-octane fuels, to protect public health, and to improve vehicle efficiency and performance, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2291 [10AP], H2636 [26AP], H4115 [18JN] H.R. 2436 — A bill to amend the Immigration and Nationality Act to expand penalties for illegal entry and presence; to the Committee on the Judiciary. Cosponsors added, H3205 [14MY] H.R. 2439 — A bill to amend title XXVII of the Public Health Service Act, the Employee Retirement Income Security Act of 1974, the Internal Revenue Code of 1986, and the Patient Protection and Affordable Care Act to require coverage of hearing devices and systems in certain private health insurance plans, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H242 [18JA], H1034 [7MR], H1236 [19MR], H2130 [29MR], H2629 [23AP], H3000 [8MY], H3205 [14MY], H3358 [17MY], H3399 [21MY], H3582 [3JN] H.R. 2440 — A bill to award Congressional Gold Medals to Metropolitan Police Officers Officer Michael Collazo and Officer Rex Englebert, in recognition of their exceptional bravery and valor in confronting an active shooter at the Covenant School in Nashville, Tennessee; to the Committee on Financial Services. Cosponsors added, H14 [9JA], H53 [10JA], H108 [11JA], H189 [17JA], H242 [18JA] H.R. 2441 — A bill to amend title 38, United States Code, to expand health care and benefits from the Department of Veterans Affairs for military sexual trauma, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA] H.R. 2442 — A bill to amend title 28, United States Code, to prohibit the exclusion of individuals from service on a Federal jury on account of disability; to the Committee on the Judiciary. Cosponsors added, H1189 [15MR] H.R. 2444 — A bill to amend the Fair Credit Reporting Act to require nationwide consumer reporting agencies, upon request, to use a consumer’s current legal name on consumer reports, and for other purposes; to the Committee on Financial Services. Cosponsors added, H2136 [2AP] H.R. 2445 — A bill to establish the Office of the Special Inspector General for Ukraine Assistance, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Oversight and Accountability, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE] H.R. 2447 — A bill to amend title 38, United States Code, to provide for a presumption of service connection for illnesses associated with service in the Armed Forces in the Panama Canal Zone, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H133 [12JA], H242 [18JA], H253 [25JA], H273 [29JA], H504 [6FE], H582 [13FE], H697 [26FE], H738 [28FE], H1000 [6MR], H1094 [11MR], H1182 [13MR], H1499 [22MR], H3681 [7JN] H.R. 2448 — A bill to amend the Internal Revenue Code of 1986 to promote the increased use of renewable natural gas, to reduce greenhouse gas emissions and other harmful transportation-related emissions that contribute to poor air quality, and to increase job creation and economic opportunity throughout the United States; to the Committee on Ways and Means. Cosponsors added, H2253 [9AP], H2399 [15AP] H.R. 2449 — A bill to require a strategy for countering the People’s Republic of China; to the Committee on Foreign Affairs, and in addition to the Committees on Armed Services, Ways and Means, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR] H.R. 2451 — A bill to amend the Higher Education Act of 1965 to provide for certain freedom of association protections, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H738 [28FE], H1000 [6MR], H2291 [10AP], H2701 [29AP], H3000 [8MY], H3205 [14MY], H3530 [24MY], H4110 [14JN] H.R. 2454 — A bill to direct the Secretary of Defense to carry out a grant program to increase cooperation on post-traumatic stress disorder research between the United States and Israel; to the Committee on Armed Services. Cosponsors added, H3656 [4JN] H.R. 2456 — A bill to direct the Secretary of Health and Human Services, acting through the Deputy Assistant Secretary for Women’s Health, to create educational materials with respect to covered disorders for elementary and secondary school students, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H544 [9FE] H.R. 2463 — A bill to limit and eliminate excessive, hidden, and unnecessary fees imposed on consumers, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2318 [11AP], H4063 [13JN], H4110 [14JN] H.R. 2468 — A bill to require the Secretary of the Interior to convey to the State of Utah certain Federal land under the administrative jurisdiction of the Bureau of Land Management within the boundaries of Camp Williams, Utah, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H582 [13FE], H1034 [7MR] H.R. 2474 — A bill to amend title XVIII of the Social Security Act to provide for an update to a single conversion factor under the Medicare physician fee schedule that is based on the Medicare economic index; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H774 [29FE], H1000 [6MR], H1149 [12MR], H1182 [13MR], H2503 [17AP], H2522 [18AP], H2559 [19AP], H3330 [16MY], H3358 [17MY], H3656 [4JN] H.R. 2479 — A bill to provide for safe schools and safe communities; to the Committee on Education and the Workforce, and in addition to the Committees on Homeland Security, the Judiciary, Energy and Commerce, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA] H.R. 2480 — A bill to direct the Secretary of Health and Human Services to issue guidance on coverage under the Medicaid program under title XIX of the Social Security Act of certain pelvic health services furnished during the postpartum period, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H189 [17JA], H273 [29JA], H3530 [24MY] H.R. 2481 — A bill to amend the Truth in Lending Act to include retailers of manufactured or modular homes in the definition of mortgage originator, and for other purposes; to the Committee on Financial Services. Cosponsors added, H247 [22JA], H253 [25JA], H366 [31JA], H1058 [8MR] H.R. 2484 — A bill to amend the Federal Election Campaign Act of 1971 to require authorized committees and leadership PACs of candidates for election for Federal office to disburse funds remaining unexpended after the date of the election involved, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA] H.R. 2494 — A bill to make the assault of a law enforcement officer a deportable offense, and for other purposes; to the Committee on the Judiciary. Objection is heard to request for consideration, S3842 [22MY], S3945 [4JN] H.R. 2499 — A bill to authorize the Secretary of Veterans Affairs to carry out an information technology system and prioritize certain requirements to manage supply chains for medical facilities of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, H2291 [10AP], H2771 [30AP] H.R. 2501 — A bill to repeal Public Law 107-40; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H823 [5MR], H2367 [12AP], H3485 [22MY] H.R. 2502 — A bill to repeal the Gun-Free School Zones Act of 1990 and amendments to that Act; to the Committee on the Judiciary. Cosponsors added, H3681 [7JN] H.R. 2522 — A bill to amend the Federal Election Campaign Act of 1971 to prohibit a candidate for election for Federal office from using amounts contributed to the candidate’s campaign to make payments to vendors owned or controlled by the candidate or by an immediate family member of the candidate; to the Committee on House Administration. Cosponsors added, H242 [18JA] H.R. 2530 — A bill to amend the Public Health Service Act to establish direct care registered nurse-to-patient staffing ratio requirements in hospitals, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H390 [1FE], H2291 [10AP], H3000 [8MY] H.R. 2532 — A bill to establish a Commission on Men’s and Women’s Fairness in College Sports; to the Committee on Education and the Workforce. Cosponsors added, H108 [11JA], H639 [14FE], H1000 [6MR] H.R. 2534 — A bill to amend title XXVII of the Public Health Service Act to ensure the equitable treatment of covered entities and pharmacies participating in the 340B drug discount program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H2253 [9AP] H.R. 2537 — A bill to amend title 37, United States Code, to increase the basic allowance for housing inside the United States for members of the uniformed services; to the Committee on Armed Services. Cosponsors added, H53 [10JA], H823 [5MR], H1034 [7MR], H1297 [20MR], H1355 [21MR], H2253 [9AP], H2503 [17AP], H2623 [20AP], H2636 [26AP], H2875 [6MY], H2938 [7MY], H3274 [15MY] H.R. 2539 — A bill to amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H317 [30JA], H2291 [10AP], H2318 [11AP], H2399 [15AP], H2701 [29AP], H3007 [10MY], H3330 [16MY], H3526 [23MY], H3656 [4JN] H.R. 2540 — A bill to establish a universal child assistance program, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H366 [31JA], H432 [5FE] H.R. 2547 — A bill to amend title III of the Public Health Service Act to extend funding for special diabetes programs for Indians; to the Committee on Energy and Commerce. Cosponsors added, H681 [15FE] H.R. 2548 — A bill to require the Secretary of Health and Human Services to collect and disseminate information on concussion and traumatic brain injury among public safety officers; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H1094 [11MR], H2875 [6MY], H3681 [7JN] H.R. 2552 — A bill to amend the Telecommunications Act of 1996 to preserve and protect the ability of State and local governments, public-private partnerships, and cooperatives to provide broadband services; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H273 [29JA], H684 [16FE], H1094 [11MR], H1149 [12MR] H.R. 2553 — A bill to amend title 28, United States Code, to authorize removal of an action or prosecution against a President, Vice President, former President, or former Vice President, and for other purposes; to the Committee on the Judiciary. Reported with amendment (H. Rept. 118–371), H363 [31JA] H.R. 2555 — A bill to amend the Internal Revenue Code of 1986 to repeal the limitation on the deduction for certain taxes, including State and local property and income taxes; to the Committee on Ways and Means. Cosponsors added, H148 [16JA] H.R. 2559 — A bill to extend funding for community health centers and the National Health Service Corps, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H1000 [6MR] H.R. 2560 — A bill to require the Secretary of Commerce to establish the Sea Turtle Rescue Assistance Grant Program, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H639 [14FE], H1094 [11MR] Reported with amendment (H. Rept. 118–433), H2134 [2AP] Text, H2298 [11AP] Rules suspended. Passed House amended, H2300 [11AP] Message from the House, S2733 [15AP] H.R. 2562 — A bill to direct the Administrator of the Federal Aviation Administration to enter into appropriate arrangements with the National Academies of Sciences, Engineering, and Medicine to provide for a report on the health impacts of air traffic noise and pollution, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H14 [9JA] H.R. 2567 — A bill to amend the Richard B. Russell National School Lunch Act with respect to expanding community eligibility, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2143 [5AP], H3543 [31MY] H.R. 2573 — A bill to express the Sense of Congress with respect to Federal preemption of State restrictions on dispensing medication abortion, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H189 [17JA], H390 [1FE], H538 [7FE], H1499 [22MR] H.R. 2581 — A bill to prohibit Federal funds from being awarded or otherwise made available to the Manhattan District Attorney’s Office; to the Committee on the Judiciary. Cosponsors added, H3675 [5JN], H3975 [12JN], H4063 [13JN] H.R. 2583 — A bill to amend title XVIII of the Social Security Act to expand and expedite access to cardiac rehabilitation programs and pulmonary rehabilitation programs under the Medicare program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H366 [31JA], H582 [13FE], H681 [15FE], H2367 [12AP] H.R. 2584 — A bill to protect hospital personnel from violence, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H253 [25JA], H781 [1MR], H1094 [11MR], H2291 [10AP], H2318 [11AP], H2445 [16AP], H2701 [29AP], H2831 [1MY], H2875 [6MY], H2938 [7MY], H3274 [15MY], H3399 [21MY], H3656 [4JN], H3727 [11JN], H3975 [12JN], H4063 [13JN] H.R. 2591 — A bill to adjust the minimum rate of basic pay for members of the Armed Forces; to the Committee on Armed Services. Cosponsors added, H781 [1MR] H.R. 2595 — A bill to require State and local law enforcement agencies receiving forfeited funds and property to report how such funds and property are used, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE], H823 [5MR] H.R. 2598 — A bill to establish a Commission on the Federal Regulation of Cannabis to study a prompt and plausible pathway to the Federal regulation of cannabis, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, Ways and Means, Agriculture, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3399 [21MY] H.R. 2601 — A bill to require entities that contract with the National Human Trafficking Hotline to cooperate with State and local law enforcement agencies when receiving tips via the Hotline; to the Committee on the Judiciary. Cosponsors added, H1094 [11MR] H.R. 2602 — A bill to allow nonprofit child care providers to participate in certain loan programs of the Small Business Administration, and for other purposes; to the Committee on Small Business. Cosponsors added, H253 [25JA], H3530 [24MY] H.R. 2604 — A bill to amend the Family Violence Prevention and Services Act to make improvements; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H681 [15FE], H1499 [22MR], H2367 [12AP] H.R. 2614 — A bill to establish a national task force to expand opportunities and improve the standard of living for working families in America; to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, Ways and Means, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1182 [13MR] H.R. 2618 — A bill to require the Comptroller General of the United States to conduct a study on the response time of the Administrator of the Federal Aviation Administration to requests from Members of Congress, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H582 [13FE] H.R. 2620 — A bill to amend chapter 44 of title 18, United States Code, to enhance penalties for theft of a firearm from a Federal firearms licensee; to the Committee on the Judiciary. Cosponsors added, H148 [16JA], H189 [17JA], H253 [25JA], H639 [14FE], H1000 [6MR], H1034 [7MR], H2629 [23AP], H3274 [15MY] H.R. 2621 — A bill to require the Bureau of the Census to add a new educational attainment category to the Current Population Survey; to the Committee on Oversight and Accountability. Cosponsors added, H432 [5FE], H504 [6FE], H538 [7FE], H3656 [4JN] H.R. 2630 — A bill to amend the Employee Retirement Income Security Act of 1974 to require a group health plan or health insurance coverage offered in connection with such a plan to provide an exceptions process for any medication step therapy protocol, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H693 [23FE], H697 [26FE], H738 [28FE], H774 [29FE], H823 [5MR], H1034 [7MR], H1182 [13MR], H1236 [19MR], H1355 [21MR], H1499 [22MR], H2136 [2AP], H2445 [16AP], H2522 [18AP], H2629 [23AP], H2636 [26AP], H2701 [29AP], H2875 [6MY], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3274 [15MY], H3358 [17MY], H3399 [21MY], H3526 [23MY], H3675 [5JN], H3727 [11JN], H3975 [12JN], H4063 [13JN], H4110 [14JN] H.R. 2639 — A bill to amend title XVIII of the Social Security Act to provide for additional requirements with respect to electrodiagnostic services under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3399 [21MY] H.R. 2643 — A bill to amend the Internal Revenue Code of 1986 to allow deductions and credits relating to expenditures in connection with marijuana sales conducted in compliance with State law; to the Committee on Ways and Means. Cosponsors added, H681 [15FE], H2143 [5AP] H.R. 2656 — A bill to amend the Fair Credit Reporting Act to prohibit the creation and sale of trigger leads, and for other purposes; to the Committee on Financial Services. Cosponsors added, H693 [23FE] H.R. 2662 — A bill to amend the Internal Revenue Code of 1986 to provide for collegiate housing and infrastructure grants; to the Committee on Ways and Means. Cosponsors added, H253 [25JA], H273 [29JA], H317 [30JA], H693 [23FE], H774 [29FE], H1094 [11MR], H2136 [2AP], H2253 [9AP], H2319 [11AP], H2445 [16AP], H3399 [21MY] H.R. 2663 — A bill to direct the Secretary of Labor to issue an occupational safety and health standard that requires covered employers within the health care and social service industries to develop and implement a comprehensive workplace violence prevention plan, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Energy and Commerce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H317 [30JA], H582 [13FE], H774 [29FE], H2291 [10AP], H2445 [16AP], H2771 [30AP], H3205 [14MY], H3399 [21MY] H.R. 2665 — A bill to amend title XIX of the Social Security Act to delay certain disproportionate share hospital payment reductions under the Medicaid program; to the Committee on Energy and Commerce. Cosponsors added, H1000 [6MR] H.R. 2666 — A bill to amend title XIX of the Social Security Act to codify value-based purchasing arrangements under the Medicaid program and reforms related to price reporting under such arrangements, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H366 [31JA], H432 [5FE], H544 [9FE], H738 [28FE], H2253 [9AP], H2445 [16AP], H2771 [30AP] H.R. 2667 — A bill to amend the Tariff Act of 1930 to increase civil penalties for, and improve enforcement with respect to, customs fraud, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H2875 [6MY] H.R. 2668 — A bill to award a Congressional Gold Medal, collectively, to the American individuals that were active in aiding and rescuing Jews and other refugees during the period of Nazi Germany’s genocidal ‘‘Final Solution’’ policy to murder every Jew in Europe, in recognition of their contributions, which resulted in tens of thousands of Jews and others being spared from almost certain death; to the Committee on Financial Services. Cosponsors added, H2253 [9AP] H.R. 2669 — A bill to authorize appropriations for occupational education and training programs of the Bureau of Prisons, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H189 [17JA], H242 [18JA] H.R. 2670 — A bill to authorize appropriations for fiscal year 2024 for military activities of the Department of Defense and for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; to the Committee on Armed Services. Approved [Public Law 118–31] (signed December 22, 2023) H.R. 2671 — A bill to amend the Water Infrastructure Finance and Innovation Act of 2014 with respect to budgetary treatment of certain amounts of financial assistance, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP] H.R. 2672 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide for the authority to reimburse local governments or electric cooperatives for interest expenses, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H2367 [12AP], H3274 [15MY] H.R. 2673 — A bill to amend the Internal Revenue Code of 1986 to restore the deduction for research and experimental expenditures; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H253 [25JA], H3000 [8MY], H3975 [12JN] H.R. 2676 — A bill to amend the Internal Revenue Code of 1986 to reinstate estate and generation-skipping taxes, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H14 [9JA] H.R. 2677 — A bill to authorize the Attorney General to make grants to States and units of local government to reduce the financial and administrative burden of expunging convictions for cannabis offenses, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1236 [19MR] H.R. 2682 — A bill to allow veterans to use, possess, or transport medical marijuana and to discuss the use of medical marijuana with a physician of the Department of Veterans Affairs as authorized by a State or Indian Tribe, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2130 [29MR] H.R. 2684 — A bill to amend the Internal Revenue Code of 1986 to increase the limitation on capital losses and index the limitation to inflation; to the Committee on Ways and Means. Cosponsors added, H697 [26FE] H.R. 2685 — A bill to require the Secretary of Energy to provide technology grants to strengthen domestic mining education, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H189 [17JA], H538 [7FE], H2253 [9AP] H.R. 2690 — A bill to reduce exclusionary discipline practices in schools, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H639 [14FE], H2399 [15AP], H2503 [17AP] H.R. 2693 — A bill to amend title 14, United States Code, to make appropriations for Coast Guard pay in the event an appropriations Act expires before the enactment of a new appropriations Act, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H242 [18JA], H1094 [11MR], H1236 [19MR], H2503 [17AP] H.R. 2695 — A bill to amend the Agricultural Act of 2014 to provide emergency relief to producers of livestock with herds adversely affected by Mexican gray wolves, and for other purposes; to the Committee on Agriculture. Cosponsors added, H738 [28FE] H.R. 2696 — A bill to amend the Internal Revenue Code of 1986 to make permanent the 7-year recovery period for motorsports entertainment complexes; to the Committee on Ways and Means. Cosponsors added, H3000 [8MY], H3274 [15MY] H.R. 2697 — A bill to establish the right to counsel, at Government expense for those who cannot afford counsel, for people facing removal; to the Committee on the Judiciary. Cosponsors added, H3530 [24MY], H3656 [4JN], H4063 [13JN] H.R. 2700 — A bill to reform the labor laws of the United States, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H432 [5FE], H1355 [21MR], H2445 [16AP], H2771 [30AP], H2938 [7MY], H3205 [14MY] H.R. 2704 — A bill to prohibit Federal agencies from purchasing or leasing new vehicles that are not zero-emission vehicles, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H390 [1FE] H.R. 2706 — A bill to prohibit discrimination on the basis of mental or physical disability in cases of organ transplants; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H390 [1FE], H582 [13FE], H639 [14FE], H693 [23FE], H823 [5MR], H1297 [20MR], H2136 [2AP], H2253 [9AP], H2938 [7MY] Reported with amendment (H. Rept. 118–507), H3202 [14MY] H.R. 2707 — A bill to mitigate drug shortages and provide incentives for maintaining, expanding, and relocating the manufacturing of active pharmaceutical ingredients, excipients, medical diagnostic devices, pharmaceuticals, and personal protective equipment in the United States, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H189 [17JA] H.R. 2708 — A bill to prohibit discrimination against individuals with disabilities who need long-term services and supports, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H639 [14FE], H738 [28FE], H823 [5MR], H1189 [15MR], H1297 [20MR], H1499 [22MR], H2121 [26MR], H2319 [11AP], H2399 [15AP], H2559 [19AP], H2636 [26AP], H3485 [22MY], H3530 [24MY], H3975 [12JN] H.R. 2711 — A bill to amend title 10, United States Code, to establish an annual training for students in the Junior Reserve Officers’ Training Corps regarding the prevention of sexual abuse; to the Committee on Armed Services. Cosponsors added, H2319 [11AP], H3399 [21MY], H4110 [14JN] H.R. 2713 — A bill to amend titles XVIII and XIX of the Social Security Act to increase access to services provided by advanced practice registered nurses under the Medicare and Medicaid programs, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H366 [31JA], H432 [5FE], H823 [5MR], H1094 [11MR], H2253 [9AP], H2636 [26AP], H2875 [6MY], H3000 [8MY], H3526 [23MY] H.R. 2715 — A bill to require full funding of part A of title I of the Elementary and Secondary Education Act of 1965 and the Individuals with Disabilities Education Act; to the Committee on Education and the Workforce. Cosponsors added, H2771 [30AP] H.R. 2718 — A bill to reauthorize funding for programs to prevent, investigate, and prosecute elder abuse, neglect, and exploitation, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and the Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3681 [7JN], H4063 [13JN] H.R. 2719 — A bill to amend the Food, Agriculture, Conservation, and Trade Act of 1990 to establish a competitive grant program under which the Secretary of Agriculture provides grants to land-grant colleges and universities to support agricultural producers in adopting conservation and innovative climate practices, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2121 [26MR], H3274 [15MY] H.R. 2720 — A bill to direct the agricultural research service to expand organic research, and for other purposes; to the Committee on Agriculture. Cosponsors added, H582 [13FE], H1149 [12MR], H2121 [26MR], H3399 [21MY] H.R. 2722 — A bill to establish a grant pilot program to provide child care services for the minor children of law enforcement officers to accommodate the shift work and abnormal work hours of such officers, and to enhance recruitment and retention of such officers; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H504 [6FE], H697 [26FE], H3358 [17MY], H3399 [21MY] H.R. 2723 — A bill to modify market development programs under the Department of Agriculture, and for other purposes; to the Committee on Agriculture. Cosponsors added, H823 [5MR], H1000 [6MR], H1355 [21MR], H2121 [26MR], H2701 [29AP] H.R. 2724 — A bill to direct the Comptroller General of the United States to conduct a study to evaluate the activities of sister city partnerships operating within the United States, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H544 [9FE] H.R. 2725 — A bill to amend the Religious Freedom Restoration Act of 1993 to protect civil rights and otherwise prevent meaningful harm to third parties, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H273 [29JA], H432 [5FE], H582 [13FE], H823 [5MR], H1355 [21MR], H1499 [22MR], H2253 [9AP], H2445 [16AP], H2522 [18AP], H3975 [12JN] H.R. 2726 — A bill to amend the Small Business Act to provide interim partial payment to small business contractors that request an equitable adjustment due to a change in the terms of a construction contract, and for other purposes; to the Committee on Small Business. Cosponsors added, H53 [10JA], H681 [15FE], H2143 [5AP], H2503 [17AP], H3399 [21MY], H3681 [7JN] H.R. 2727 — A bill to require the Administrator of the Small Business Administration to modify the interest rate for eligible loans made to borrowers experiencing short-term financial challenges, and for other purposes; to the Committee on Small Business. Cosponsors added, H582 [13FE], H3358 [17MY] H.R. 2728 — A bill to amend the Higher Education Act of 1965 to include certain individuals who work on farms or ranches as individuals who are employed in public service jobs for purposes of eligibility for loan forgiveness under the Federal Direct Loan program; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H2143 [5AP], H3681 [7JN] H.R. 2729 — A bill to establish a commission to study how Federal laws and policies affect United States citizens living in foreign countries; to the Committee on Oversight and Accountability, and in addition to the Committees on Financial Services, Ways and Means, the Judiciary, House Administration, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H3330 [16MY] H.R. 2730 — A bill to amend the Public Health Service Act to include Middle Easterners and North Africans in the statutory definition of a ‘‘racial and ethnic minority group’’, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1355 [21MR] H.R. 2732 — A bill to protect victims of online child sexual abuse, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H538 [7FE], H2143 [5AP], H2253 [9AP], H3205 [14MY] H.R. 2735 — A bill to amend the Coastal Zone Management Act of 1972 to require the Secretary of Commerce to establish a coastal climate change adaptation preparedness and response program, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H14 [9JA] H.R. 2736 — A bill to prohibit disinformation in the advertising of abortion services, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1094 [11MR], H4115 [18JN] H.R. 2737 — A bill to require the President to suspend the entry of aliens into the United States when the average number of ‘‘encounters’’ exceeds a certain number, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2623 [20AP] H.R. 2738 — A bill to amend section 235(b)(2)(C) of the Immigration and Nationality Act to require the implementation of the Migrant Protection Protocols; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 2742 — A bill to amend the Animal Welfare Act to provide for greater protection of roosters, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H242 [18JA], H390 [1FE], H582 [13FE], H639 [14FE], H1182 [13MR], H1236 [19MR], H1355 [21MR], H2253 [9AP], H2291 [10AP], H2559 [19AP], H3205 [14MY], H3274 [15MY], H3530 [24MY], H3582 [3JN] H.R. 2743 — A bill to amend the Federal Reserve Act to prohibit certain financial service providers who deny fair access to financial services from using taxpayer funded discount window lending programs, and for other purposes; to the Committee on Financial Services. Cosponsors added, H432 [5FE], H639 [14FE], H681 [15FE], H1000 [6MR], H1149 [12MR], H1182 [13MR], H3656 [4JN], H3727 [11JN] H.R. 2744 — A bill to require that the Federal Government procure from the private sector the goods and services necessary for the operations and management of certain Government agencies, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H14 [9JA], H242 [18JA], H366 [31JA], H681 [15FE], H693 [23FE], H2291 [10AP] H.R. 2745 — A bill to amend title 28, United States Code, to allow claims against foreign states for unlawful computer intrusion, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2253 [9AP] Message from the House, S342 [1FE] H.R. 2747 — A bill to support the sustainable aviation fuel market, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Armed Services, Science, Space, and Technology, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H688 [20FE] H.R. 2748 — A bill to amend the Fairness to Contact Lens Consumers Act to modernize verification of contact lens prescriptions, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H189 [17JA], H639 [14FE], H774 [29FE], H2399 [15AP], H2503 [17AP], H2559 [19AP], H2701 [29AP], H2771 [30AP], H3274 [15MY], H3399 [21MY], H3582 [3JN] H.R. 2753 — A bill to require federally licensed firearms manufacturers, importers, and dealers and their employees to undergo training to be eligible to sell a firearm, to require a notice to be posted at retail firearms locations that describes the signs of unlawful firearms purchases, to require such licensees to maintain physical security elements to prevent theft and a minimum level of business liability insurance, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H53 [10JA] H.R. 2754 — A bill to designate the facility of the United States Postal Service located at 2395 East Del Mar Boulevard in Laredo, Texas, as the ‘‘Lance Corporal David Lee Espinoza, Lance Corporal Juan Rodrigo Rodriguez & Sergeant Roberto Arizola Jr. Post Office Building’’; to the Committee on Oversight and Accountability. Reported (no written report), S2718 [11AP] Text, H260 [29JA] Rules suspended. Passed House, H342 [31JA] Referred to the Committee on Homeland Security and Governmental Affairs, S342 [1FE] Passed Senate, S2994 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Message from the House, S3130 [1MY] Examined and signed in the House, H2825 [1MY] Examined and signed in the Senate, S3130 [1MY] Presented to the President (May 1, 2024), H2994 [8MY] Approved [Public Law 118–55] (signed May 7, 2024) H.R. 2756 — A bill to direct the Secretary of Defense to seek to engage the Government of Taiwan regarding expanded cooperation with respect to military cybersecurity activities, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H738 [28FE] H.R. 2757 — A bill to enable the people of Puerto Rico to choose a permanent, nonterritorial, fully self-governing political status for Puerto Rico and to provide for a transition to and the implementation of that permanent, nonterritorial, fully self-governing political status, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H242 [18JA], H1000 [6MR], H2143 [5AP] H.R. 2760 — A bill to provide standards for facilities at which aliens in the custody of the Department of Homeland Security are detained, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H693 [23FE] H.R. 2761 — A bill to amend the Public Health Service Act to authorize a loan repayment program to encourage specialty medicine physicians to serve in rural communities experiencing a shortage of specialty medicine physicians, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2629 [23AP], H4063 [13JN] H.R. 2763 — A bill to require the Secretary of Health and Human Services to improve the detection, prevention, and treatment of mental health issues among public safety telecommunicators; to the Committee on Energy and Commerce. Cosponsors added, H582 [13FE], H2121 [26MR] H.R. 2764 — A bill to establish a Green New Deal for Health to prepare and empower the health care sector to protect the health and well-being of our workers, our communities, and our planet in the face of the climate crisis, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H697 [26FE] H.R. 2766 — A bill to support the human rights of Uyghurs and members of other minority groups residing primarily in the Xinjiang Uyghur Autonomous Region and safeguard their distinct identity, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H253 [25JA] Text, H551 [13FE] Rules suspended. Passed House amended, H659 [15FE] Message from the House, S983 [26FE] Referred to the Committee on Foreign Relations, S983 [26FE] H.R. 2768 — A bill to authorize the Secretary of Veterans Affairs to make grants to State and local entities to carry out peer-to-peer mental health programs; to the Committee on Veterans’ Affairs. Cosponsors added, H738 [28FE], H824 [5MR], H1034 [7MR], H1149 [12MR] H.R. 2771 — A bill to amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Portal for Appraiser Credentialing and AMC Registration Information, and for other purposes; to the Committee on Financial Services. Cosponsors added, H253 [25JA], H693 [23FE] H.R. 2777 — A bill to amend the Richard B. Russell National School Lunch Act to establish a waiver under such Act to address certain school closures, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1149 [12MR] H.R. 2783 — A bill to establish an integrated research, education, and extension competitive grant program and scholarship grant program for certain Asian American Native American Pacific Islander-serving agricultural institutions, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2291 [10AP] H.R. 2784 — A bill to promote environmental literacy; to the Committee on Education and the Workforce. Cosponsors added, H2130 [29MR], H3000 [8MY] H.R. 2785 — A bill to permanently exempt payments made from the Railroad Unemployment Insurance Account from sequestration under the Balanced Budget and Emergency Deficit Control Act of 1985; to the Committee on the Budget. Cosponsors added, H14 [9JA], H2253 [9AP], H2445 [16AP], H2623 [20AP], H2771 [30AP], H2831 [1MY], H3330 [16MY], H3681 [7JN] H.R. 2799 — A bill to make reforms to the capital markets of the United States, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Providing for consideration (H. Res. 1052), H820 [5MR] Debated, H972 [6MR], H1021 [7MR], H1038 [8MR] Text, H977 [6MR] Amendments, H981, H982, H984, H986, H987 [6MR], H1039, H1040, H1041, H1042 [8MR] Motion to recommit rejected, H1047 [8MR] Passed House, H1048 [8MR] Message from the House, S2345 [11MR] Referred to the Committee on Banking, Housing, and Urban Affairs, S2345 [11MR] H.R. 2800 — A bill to award a Congressional Gold Medal to Master Sergeant Rodrick ‘‘Roddie’’ Edmonds in recognition of his heroic actions during World War II; to the Committee on Financial Services. Cosponsors added, H2143 [5AP], H2291 [10AP], H2399 [15AP], H2938 [7MY], H3000 [8MY] H.R. 2801 — A bill to amend the Children’s Online Privacy Protection Act of 1998 to update and expand the coverage of such Act, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H582 [13FE], H3358 [17MY] H.R. 2802 — A bill to add suicide prevention resources to school identification cards; to the Committee on Education and the Workforce. Cosponsors added, H544 [9FE], H684 [16FE], H2399 [15AP], H3330 [16MY], H3727 [11JN], H3975 [12JN], H4110 [14JN], H4115 [18JN] H.R. 2803 — A bill to direct the Librarian of Congress to carry out activities to support Armenian Genocide education programs, and for other purposes; to the Committee on House Administration. Cosponsors added, H133 [12JA], H538 [7FE], H544 [9FE], H639 [14FE], H697 [26FE], H781 [1MR], H1000 [6MR], H1236 [19MR], H2136 [2AP], H2143 [5AP], H2559 [19AP], H2875 [6MY], H3530 [24MY], H3582 [3JN] H.R. 2806 — A bill to require the Secretary of Homeland Security to issue a strategy and implementation plan to improve hiring and retention of U.S. Customs and Border Protection personnel in rural or remote areas, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H317 [30JA], H3582 [3JN] H.R. 2807 — A bill to require the Secretary of Transportation to develop and submit a report to Congress on recommendations to reduce train noise and vibrations near homes, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H2636 [26AP] H.R. 2808 — A bill to require the Secretary of the Treasury to mint commemorative coins in recognition of Arnold Daniel Palmer; to the Committee on Financial Services. Cosponsors added, H317 [30JA], H366 [31JA], H432 [5FE], H2143 [5AP], H2399 [15AP], H3205 [14MY], H3274 [15MY], H3330 [16MY], H3399 [21MY], H3681 [7JN] H.R. 2809 — A bill to authorize an electronic health record modernization program of the Department of Veterans Affairs and increase oversight and accountability of the program to better serve veterans, medical professionals of the Department, and taxpayers, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H2771 [30AP] H.R. 2814 — A bill to amend the Federal Meat Inspection Act to exempt from inspection the slaughter of animals and the preparation of carcasses conducted at a custom slaughter facility, and for other purposes; to the Committee on Agriculture. Cosponsors added, H189 [17JA], H697 [26FE], H824 [5MR] H.R. 2818 — A bill to amend title 38, United States Code, to increase the amount paid by the Secretary of Veterans Affairs to veterans for improvements and structural alterations furnished as part of home health services; to the Committee on Veterans’ Affairs. Cosponsors added, H4115 [18JN] H.R. 2821 — A bill to establish a grant program in the Bureau of Consumer Financial Protection to fund the establishment of centers of excellence to support research, development and planning, implementation, and evaluation of effective programs in financial literacy education for young people and families ages 8 through 24 years old, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA] H.R. 2822 — A bill to ensure that contractors of the Department of Agriculture comply with certain labor laws, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3205 [14MY] H.R. 2825 — A bill to establish a program to make grants for the establishment of prison libraries; to the Committee on the Judiciary. Cosponsors added, H189 [17JA], H273 [29JA], H366 [31JA], H1000 [6MR] H.R. 2826 — A bill to clarify the treatment of 2 or more employers as joint employers under the National Labor Relations Act and the Fair Labor Standards Act of 1938; to the Committee on Education and the Workforce. Cosponsors added, H108 [11JA], H317 [30JA], H2319 [11AP], H2836 [2MY] H.R. 2827 — A bill to provide high-skilled visas for nationals of the Republic of Korea, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H108 [11JA], H738 [28FE], H1236 [19MR], H2291 [10AP], H2522 [18AP], H3526 [23MY], H3543 [31MY], H3675 [5JN] H.R. 2828 — A bill to require Federal employee health benefit plans to include assisted reproductive treatment benefits, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H317 [30JA], H781 [1MR], H824 [5MR], H1000 [6MR], H1149 [12MR], H1236 [19MR], H2130 [29MR], H2367 [12AP], H2399 [15AP], H3330 [16MY], H3675 [5JN] H.R. 2830 — A bill to amend title 38, United States Code, to revise the rules for approval by the Secretary of Veterans Affairs of commercial driver education programs for purposes of veterans educational assistance, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H390 [1FE], H688 [20FE], H693 [23FE], H3205 [14MY], H3582 [3JN], H4110 [14JN] H.R. 2831 — A bill to award posthumously a Congressional Gold Medal to Robert Parris Moses, in recognition of his achievements and contributions to advancing American education and civil rights; to the Committee on Financial Services. Cosponsors added, H53 [10JA] H.R. 2839 — A bill to amend the Siletz Reservation Act to address the hunting, fishing, trapping, and animal gathering rights of the Confederated Tribes of Siletz Indians, and for other purposes; to the Committee on Natural Resources. Message from the House (received December 22, 2023, during adjournment), S15 [8JA] Examined and signed in the Senate (December 26, 2023, during adjournment), S15 [8JA] Approved [Public Law 118–33] (signed December 26, 2023) H.R. 2843 — A bill to prohibit the Administrator of the Transportation Security Administration from accepting warrants for the arrest of aliens as valid proof of identification at aviation security checkpoints, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H1000 [6MR] H.R. 2845 — A bill to direct the Director of the Cybersecurity and Infrastructure Security Agency to establish a School Cybersecurity Improvement Program, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA], H504 [6FE], H544 [9FE], H688 [20FE], H1236 [19MR], H2121 [26MR], H2130 [29MR], H2143 [5AP], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2367 [12AP], H2445 [16AP], H2636 [26AP], H2771 [30AP], H2938 [7MY], H3543 [31MY], H3681 [7JN] H.R. 2846 — A bill to amend the Fair Housing Act to prohibit discrimination based on source of income, veteran status, or military status; to the Committee on the Judiciary. Cosponsors added, H582 [13FE], H774 [29FE], H1058 [8MR], H1297 [20MR], H2121 [26MR], H2130 [29MR] H.R. 2847 — A bill to amend the Revised Statutes to remove the defense of qualified immunity in the case of any action under section 1979, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2136 [2AP] H.R. 2848 — A bill to direct the Secretary of Transportation to carry out a grant program to support efforts to provide fare-free transit service, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H504 [6FE], H2130 [29MR] H.R. 2849 — A bill to amend the Internal Revenue Code of 1986 to establish a credit for the domestic production of rare earth magnets, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H432 [5FE], H504 [6FE], H781 [1MR], H1094 [11MR], H2121 [26MR], H2143 [5AP], H2445 [16AP], H3530 [24MY], H3582 [3JN] H.R. 2851 — A bill to amend the Act of August 16, 1937 (commonly referred to as the ‘‘National Apprenticeship Act’’), to expand the national apprenticeship system to include apprenticeships, youth apprenticeships, and pre-apprenticeships registered under such Act and to promote the furtherance of labor standards necessary to safeguard the welfare of apprentices, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE], H2503 [17AP], H2771 [30AP], H3007 [10MY] H.R. 2852 — A bill to require the Secretary of Defense to provide to firefighters of the Department of Defense medical testing and related services to detect and prevent certain cancers; to the Committee on Armed Services. Cosponsors added, H1094 [11MR], H1182 [13MR], H1297 [20MR], H2522 [18AP] H.R. 2864 — A bill to amend the Secure and Trusted Communications Networks Act of 2019 to provide for the addition of certain equipment and services produced or provided by DJI Technologies to the list of covered communications equipment or services published under such Act, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H538 [7FE], H639 [14FE], H1236 [19MR], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2875 [6MY] Reported with amendment (H. Rept. 118–491), H2935 [7MY] H.R. 2867 — A bill to establish an awareness campaign related to the lethality of fentanyl and fentanyl-contaminated drugs, to establish a Federal Interagency Work Group on Fentanyl Contamination of Drugs, and to provide community-based coalition enhancement grants to mitigate the effects of drug use; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H781 [1MR] H.R. 2869 — A bill to require the Secretary of Education, in consultation with the Attorney General and the Secretary of Health and Human Services, to publish an annual report on indicators of school crime and safety that includes data on school shootings, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA] H.R. 2870 — A bill to amend title 18, United States Code, to prohibit a Federal firearms licensee from selling or delivering certain semiautomatic centerfire rifles or semiautomatic centerfire shotguns to a person under 21 years of age, with exceptions for active duty military personnel and full-time law enforcement officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H133 [12JA], H189 [17JA], H242 [18JA], H253 [25JA], H390 [1FE], H538 [7FE], H681 [15FE], H774 [29FE], H1058 [8MR], H1149 [12MR], H1189 [15MR], H2319 [11AP], H2938 [7MY], H3543 [31MY], H3681 [7JN], H3727 [11JN] H.R. 2871 — A bill to amend the Internal Revenue Code of 1986 to increase the adjusted gross income limitation for above-the-line deduction of expenses of performing artist employees, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H273 [29JA], H366 [31JA], H639 [14FE], H681 [15FE], H738 [28FE], H1297 [20MR], H2130 [29MR], H2253 [9AP], H2319 [11AP], H2701 [29AP], H4115 [18JN] H.R. 2872 — A bill to amend the Permanent Electronic Duck Stamp Act of 2013 to allow States to issue electronic stamps under such Act, and for other purposes; to the Committee on Natural Resources. Motion to proceed considered, S87 [11JA], S105 [16JA], S125 [17JA] Senate invoked cloture on motion to proceed, S117 [16JA] Amendments, S123 [16JA], S152, S173 [17JA], S177 [18JA] Motion to proceed agreed to, S140 [17JA] Message from the Senate, H219 [18JA] House consideration of Senate amendment, H219 [18JA] Amendments, H219 [18JA] Rules suspended. House agreed to Senate amendment, H225 [18JA] Debated, S175 [18JA] Motion to recommit, S182 [18JA] Passed Senate amended, S183 [18JA] Message from the House (received January 18, 2024, during adjournment), S201 [22JA] Examined and signed in the House (January 18, 2024), H238 [18JA] Examined and signed in the Senate (January 19, 2024, during adjournment), S201 [22JA] Presented to the President (January 19, 2024), H245 [22JA] Approved [Public Law 118–35] (signed January 19, 2024) H.R. 2874 — A bill to amend the Higher Education Act of 1965 to increase the Federal student loan limits for students in flight education and training programs; to the Committee on Education and the Workforce. Cosponsors added, H108 [11JA], H2319 [11AP], H3485 [22MY], H3656 [4JN] H.R. 2878 — A bill to require research facilities that use companion dogs, cats, or rabbits for research purposes and receive funding from the National Institutes of Health to offer such animals for adoption after completion of such research, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE] H.R. 2880 — A bill to amend title XVIII of the Social Security Act to establish certain requirements for pharmacy benefit managers under part D of the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H1236 [19MR], H2399 [15AP], H2629 [23AP], H2938 [7MY], H3330 [16MY], H3399 [21MY], H3485 [22MY], H3582 [3JN], H3727 [11JN], H3975 [12JN], H4115 [18JN] H.R. 2882 — A bill to reauthorize the Morris K. Udall and Stewart L. Udall Trust Fund, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported with amendment (H. Rept. 118–364, part 1), H314 [30JA] Text, H395 [5FE] Rules suspended. Passed House amended, H409 [5FE] Message from the House, S420 [6FE], S2591 [22MR] Amendments, S2367, S2370 [12MR], S2522, S2523, S2524, S2526, S2527, S2539, S2540, S2541, S2542, S2543, S2544, S2545, S2546, S2547, S2550, S2551 [21MR], S2559, S2578, S2580, S2581, S2582, S2583, S2608, S2609, S2610, S2612, S2614, S2615, S2617 [22MR] Passed Senate amended, S2370 [12MR] Message from the Senate (received March 14, 2024), H1185 [15MR] House agreed to Senate amendment with amendment (pursuant to H. Res. 1102), H1486 [22MR] Explanatory statement (consolidated appropriations), H1501 [22MR] Motion to proceed agreed to, S2558 [22MR] Senate consideration of House amendment to Senate amendment, S2558 [22MR] Senate agreed to House amendment, S2585 [22MR] Message from the Senate (received March 23, 2024), H2117 [26MR] Examined and signed in the House (March 23, 2024), H2117 [26MR] Examined and signed in the Senate, S2591 [22MR] Presented to the President (March 23, 2024), H2137 [5AP] Approved [Public Law 118–47] (signed March 23, 2024) H.R. 2886 — A bill to amend title 10, United States Code, to direct the Secretary of Defense to make certain improvements relating to access to military installations in the United States, and for other purposes; to the Committee on Armed Services. Cosponsors added, H2143 [5AP] H.R. 2889 — A bill to ensure that students in schools have a right to read, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H1236 [19MR], H3000 [8MY], H3330 [16MY], H3727 [11JN] H.R. 2890 — A bill to amend the Federal Trade Commission Act to make hospital organizations and cooperative hospital service organizations subject to the law relating to unfair methods of competition; to the Committee on the Judiciary. Cosponsors added, H2503 [17AP] H.R. 2891 — A bill to create protections for financial institutions that provide financial services to State-sanctioned marijuana businesses and service providers for such businesses, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA], H432 [5FE], H504 [6FE], H693 [23FE], H1236 [19MR], H2121 [26MR], H2130 [29MR], H2143 [5AP], H2253 [9AP], H2522 [18AP], H2623 [20AP], H2831 [1MY], H2875 [6MY], H3274 [15MY], H3399 [21MY], H3526 [23MY], H3543 [31MY], H3656 [4JN] H.R. 2892 — A bill to direct the Comptroller General of the United States to conduct a study on the effectiveness of local alerting systems, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H242 [18JA], H317 [30JA], H781 [1MR], H1236 [19MR] H.R. 2894 — A bill to prohibit the use of Federal funds to launch a nuclear weapon using an autonomous weapons system that is not subject to meaningful human control, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR], H1000 [6MR], H2399 [15AP], H2701 [29AP], H4115 [18JN] H.R. 2897 — A bill to amend title 18, United States Code, to prohibit the sale or other disposition of any firearm or ammunition to any person who has been convicted of a violent misdemeanor, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1000 [6MR], H1236 [19MR] H.R. 2898 — A bill to amend title 18, United States Code, to prohibit a person who fails to meet age and residential requirements from shipping, transporting, possessing, or receiving firearms and ammunition, to increase the penalties for transfer of a firearm to any person who is under indictment, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1000 [6MR] H.R. 2899 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide for additional grant amounts for protection against mass violence; to the Committee on the Judiciary. Cosponsors added, H1000 [6MR], H2319 [11AP] H.R. 2900 — A bill to promote registered apprenticeships, including registered apprenticeships within in-demand industry sectors, through the support of workforce intermediaries, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2136 [2AP], H2636 [26AP], H3000 [8MY] H.R. 2904 — A bill to amend the Public Health Service Act to provide for public health research and investment into understanding and eliminating structural racism and police violence; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE], H2875 [6MY] H.R. 2905 — A bill to amend title 13, United States Code, to provide that individuals in prison shall, for the purposes of a decennial census, be attributed to the last usual place of residence before incarceration, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1034 [7MR], H1499 [22MR] H.R. 2906 — A bill to prohibit official documents of executive agencies from containing the terms ‘‘latinx’’ and ‘‘latin-x’’, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H1236 [19MR] H.R. 2907 — A bill to ensure the right to provide reproductive health care services, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H1149 [12MR], H2938 [7MY] H.R. 2908 — A bill to designate the facility of the United States Postal Service located at 2600 Michigan Avenue in Kissimmee, Florida, as the ‘‘Robert Guevara Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H1189 [15MR] H.R. 2909 — A bill to address the importation and proliferation of machinegun conversion devices; to the Committee on Ways and Means, and in addition to the Committees on the Judiciary, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H366 [31JA], H738 [28FE], H774 [29FE], H2503 [17AP], H4115 [18JN] H.R. 2911 — A bill to amend title 38, United States Code, to require the Secretary of Veterans Affairs to periodically review the automatic maximum coverage under the Servicemembers’ Group Life Insurance program and the Veterans’ Group Life Insurance program, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H1058 [8MR] H.R. 2917 — A bill to direct the Secretary of Commerce to develop a national strategy for supporting economic opportunity in border communities, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2399 [15AP] H.R. 2918 — A bill to provide protection for survivors of domestic violence, sexual violence, and sex trafficking under the Fair Housing Act; to the Committee on the Judiciary. Cosponsors added, H189 [17JA] H.R. 2921 — A bill to amend the Federal Water Pollution Control Act to require a certain percentage of funds appropriated for revolving fund capitalization grants be used for green projects, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H3000 [8MY], H3205 [14MY], H3330 [16MY], H3582 [3JN], H3975 [12JN], H4063 [13JN], H4115 [18JN] H.R. 2922 — A bill to establish the Baltic Security Initiative for the purpose of strengthening the defensive capabilities of the Baltic countries, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2291 [10AP], H2629 [23AP] H.R. 2923 — A bill to promote and protect from discrimination living organ donors; to the Committee on Energy and Commerce, and in addition to the Committees on Oversight and Accountability, House Administration, Education and the Workforce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H242 [18JA], H504 [6FE], H582 [13FE], H681 [15FE], H774 [29FE], H824 [5MR], H1000 [6MR], H1236 [19MR], H1297 [20MR], H1355 [21MR], H2130 [29MR], H2143 [5AP], H2253 [9AP], H2503 [17AP], H2875 [6MY], H3000 [8MY], H3330 [16MY], H3399 [21MY], H3485 [22MY], H3526 [23MY], H3530 [24MY], H3582 [3JN], H3681 [7JN] H.R. 2925 — A bill to amend the Omnibus Budget Reconciliation Act of 1993 to provide for security of tenure for use of mining claims for ancillary activities, and for other purposes; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–416), H1032 [7MR] Providing for consideration (H. Res. 1173), H2699 [29AP] Debated, H2797 [1MY] Text, H2797 [1MY], H2963 [8MY] Motion to recommit, H2804 [1MY], H2967 [8MY] Motion to recommit agreed to, H2816 [1MY] Providing for consideration (H. Res. 1194), H2873 [6MY] Passed House amended, H2982 [8MY] Message from the House, S3650 [9MY] Referred to the Committee on Energy and Natural Resources, S3650 [9MY] H.R. 2930 — A bill to require automatic sealing of certain criminal records, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2701 [29AP] H.R. 2933 — A bill to eliminate the Federal Insurance Office of the Department of the Treasury, and for other purposes; to the Committee on Financial Services. Cosponsors added, H133 [12JA], H3399 [21MY], H3526 [23MY] H.R. 2938 — A bill to facilitate the development of a whole-of-government strategy for nuclear cooperation and nuclear exports; to the Committee on Foreign Affairs, and in addition to the Committees on Energy and Commerce, Science, Space, and Technology, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3656 [4JN], H3681 [7JN], H3975 [12JN] H.R. 2940 — A bill to amend title III of the Public Health Service Act to establish a program to develop antimicrobial innovations targeting the most challenging pathogens and most threatening infections, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Oversight and Accountability, Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H544 [9FE], H1000 [6MR], H3399 [21MY] H.R. 2941 — A bill to require the Office of Management and Budget to revise the Standard Occupational Classification system to establish a separate code for direct support professionals, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H253 [25JA], H366 [31JA], H432 [5FE], H693 [23FE], H774 [29FE], H1094 [11MR], H1499 [22MR], H2136 [2AP], H2253 [9AP], H2559 [19AP], H3330 [16MY], H3526 [23MY], H3543 [31MY], H3681 [7JN], H3727 [11JN] H.R. 2950 — A bill to authorize the Secretary of the Interior, through the Coastal Program of the United States Fish and Wildlife Service, to work with willing partners and provide support to efforts to assess, protect, restore, and enhance important coastal landscapes that provide fish and wildlife habitat on which certain Federal trust species depend, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H189 [17JA], H2121 [26MR], H2130 [29MR], H2938 [7MY] H.R. 2952 — A bill to amend the Federal Rules of Evidence to limit the admissibility of evidence of a defendant’s creative or artistic expression against such defendant, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H108 [11JA], H2253 [9AP], H2938 [7MY] H.R. 2953 — A bill to amend title 9 of the United States Code with respect to arbitration; to the Committee on the Judiciary. Cosponsors added, H108 [11JA], H1297 [20MR], H3543 [31MY] H.R. 2954 — A bill to provide for improvements in the treatment of women in the criminal justice system; to the Committee on the Judiciary, and in addition to the Committees on Ways and Means, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2319 [11AP] H.R. 2955 — A bill to study and prevent child abuse in youth residential programs, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H53 [10JA], H189 [17JA], H242 [18JA], H253 [25JA], H390 [1FE], H504 [6FE], H639 [14FE], H681 [15FE], H697 [26FE], H824 [5MR], H1034 [7MR], H1149 [12MR], H1236 [19MR], H1297 [20MR], H2121 [26MR], H2130 [29MR], H2291 [10AP], H2399 [15AP], H2445 [16AP], H3205 [14MY], H3485 [22MY], H3535 [28MY], H3656 [4JN], H3975 [12JN] H.R. 2957 — A bill to establish a postsecondary student data system; to the Committee on Education and the Workforce. Cosponsors added, H3007 [10MY], H3485 [22MY] H.R. 2961 — A bill to ensure that the Department of Defense achieves a clean audit opinion on its financial statements, and for other purposes; to the Committee on Armed Services. Cosponsors added, H432 [5FE], H2130 [29MR] H.R. 2964 — A bill to require the Federal Trade Commission to issue regulations requiring certain products to have ‘‘Do Not Flush’’ labeling, and for other purposes; to the Committee on Energy and Commerce. Reported with amendment (H. Rept. 118–447), H2140 [5AP] Text, H3707 [11JN] Rules suspended. Passed House amended, H3709 [11JN] Message from the House, S4049 [12JN] Referred to the Committee on Commerce, Science, and Transportation, S4049 [12JN] H.R. 2965 — A bill to authorize the Secretary of Health and Human Services, acting through the Administrator of the Health Resources and Services Administration, to award grants for providing evidence-based caregiver skills training to family caregivers of children with autism spectrum disorder or other developmental disabilities or delays, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H697 [26FE], H2136 [2AP], H2143 [5AP], H2503 [17AP], H2629 [23AP] H.R. 2966 — A bill to reauthorize and limit the pre-disaster mitigation program of the Small Business Administration, and for other purposes; to the Committee on Small Business. Cosponsors added, H693 [23FE], H824 [5MR], H1236 [19MR], H2253 [9AP], H2629 [23AP], H2771 [30AP], H3656 [4JN], H3727 [11JN] H.R. 2967 — A bill to amend the Higher Education Act of 1965 to establish an emergency grant aid program, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H366 [31JA] H.R. 2969 — A bill to establish an Independent Financial Technology Working Group to Combat Terrorism and Illicit Financing, and for other purposes; to the Committee on Financial Services. Reported with amendment (H. Rept. 118–485), H2873 [6MY] H.R. 2971 — A bill to amend title 38, United States Code, to promote assistance from persons recognized by the Secretary of Veterans Affairs for individuals who file certain claims under laws administered by the Secretary; to the Committee on Veterans’ Affairs. Cosponsors added, H3526 [23MY] H.R. 2974 — A bill to establish a Federal Interagency Council on Housing Affordability and Preservation, and for other purposes; to the Committee on Financial Services. Cosponsors added, H432 [5FE], H544 [9FE], H3330 [16MY] H.R. 2976 — A bill to increase the quality and supply of child care and lower child care costs for families; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H242 [18JA] H.R. 2983 — A bill to amend the Brady Handgun Violence Prevention Act to establish grants for States for purposes of modernizing criminal justice data infrastructure to facilitate automated record sealing and expungement, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H53 [10JA] H.R. 2985 — A bill to regulate firearm silencers and firearm mufflers; to the Committee on the Judiciary. Cosponsors added, H14 [9JA] H.R. 2987 — A bill to amend title 39, United States Code, and the Help America Vote Act of 2002 to improve procedures and requirements related to election mail; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H504 [6FE], H681 [15FE], H1236 [19MR], H1297 [20MR], H2130 [29MR], H2399 [15AP], H3330 [16MY] H.R. 2992 — A bill to reauthorize title II of the Higher Education Act of 1965, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H189 [17JA] H.R. 2994 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to establish the Reentry Rental Assistance and Housing Services Grant Program, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1182 [13MR], H3727 [11JN] H.R. 2996 — A bill to amend the Family and Medical Leave Act of 1993 to permit leave for an employee to meet their needs related to being a victim of dating violence, domestic violence, sexual assault, sex trafficking, or stalking, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Oversight and Accountability, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR] H.R. 2997 — A bill to direct the Secretary of the Interior to convey to Mesa County, Colorado, certain Federal land in Colorado, and for other purposes; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–370), H314 [30JA] Rules suspended. Passed House amended, H397 [5FE] Text, H397 [5FE] Message from the House, S420 [6FE] Referred to the Committee on Energy and Natural Resources, S420 [6FE] H.R. 2998 — A bill to amend the Occupational Safety and Health Act of 1970 to expand coverage under the Act, to increase protections for whistleblowers, to increase penalties for high gravity violations, to adjust penalties for inflation, to provide rights for victims or their family members, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2771 [30AP], H3399 [21MY], H3675 [5JN], H3727 [11JN] H.R. 2999 — A bill to authorize the declaration of a hazardous train event, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H1000 [6MR] H.R. 3000 — A bill to amend the Internal Revenue Code of 1986 to expand the exclusion of Pell Grants from gross income, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H639 [14FE] H.R. 3002 — A bill to amend title 23, United States Code, to reduce the population definition of rural area to 20,000 to restrict eligibility to be considered under the rural surface transportation grant program; to the Committee on Transportation and Infrastructure. Cosponsors added, H3399 [21MY] H.R. 3003 — A bill to amend title 5, United States Code, to restrict trading and ownership of certain financial instruments by Members of Congress and their spouses and dependents, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H3399 [21MY] H.R. 3005 — A bill to amend title 18, United States Code, to modify the role and duties of United States Postal Service police officers, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H242 [18JA], H273 [29JA], H317 [30JA], H688 [20FE], H824 [5MR], H1000 [6MR], H1034 [7MR], H1094 [11MR], H1149 [12MR], H1182 [13MR], H1236 [19MR], H1355 [21MR], H2130 [29MR], H2136 [2AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2875 [6MY], H3530 [24MY], H3675 [5JN], H3727 [11JN] H.R. 3006 — A bill to direct the Secretary of Education to carry out a grant program to support the placement of students and licensed professional social workers in public libraries, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H3526 [23MY] H.R. 3008 — A bill to amend the Federal Food, Drug, and Cosmetic Act to provide for notification by manufacturers of critical essential medicines of increased demand of such drugs, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3656 [4JN] H.R. 3009 — A bill to direct the Secretary of Defense to carry out a pilot program to pre-program suicide prevention resources into certain smart devices issued to members of the Armed Forces; to the Committee on Armed Services. Cosponsors added, H53 [10JA], H432 [5FE] H.R. 3012 — A bill to reauthorize the North Korean Human Rights Act of 2004, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H432 [5FE], H681 [15FE], H1000 [6MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1182 [13MR], H1189 [15MR], H1236 [19MR], H1355 [21MR], H2253 [9AP], H2629 [23AP], H3205 [14MY], H3274 [15MY] H.R. 3014 — A bill to amend the Internal Revenue Code of 1986 to establish a system for the taxation of catastrophic risk transfer companies to ensure sufficient capital to cover catastrophic insurance losses, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA] H.R. 3016 — A bill to amend the Anti-Boycott Act of 2018 to apply the provisions of that Act to international governmental organizations; to the Committee on Foreign Affairs. Rules suspended. Passed House amended, H558 [13FE] Text, H558 [13FE] Message from the House, S983 [26FE] Referred to the Committee on Foreign Relations, S983 [26FE] H.R. 3018 — A bill to authorize the issuance of extreme risk protection orders; to the Committee on the Judiciary. Cosponsors added, H53 [10JA], H317 [30JA], H538 [7FE], H781 [1MR], H2253 [9AP], H2875 [6MY], H3205 [14MY], H3358 [17MY], H3399 [21MY], H3526 [23MY], H3535 [28MY], H3975 [12JN] H.R. 3019 — A bill to establish an inspections regime for the Bureau of Prisons, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H317 [30JA], H538 [7FE], H781 [1MR], H2875 [6MY], H3205 [14MY], H3399 [21MY] Debated, H3369 [21MY] Text, H3370 [21MY] Rules suspended. Passed House amended, H3388 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on the Judiciary, S3849 [22MY] H.R. 3020 — A bill to provide for the application of sanctions regarding Mahan Air; to the Committee on Foreign Affairs. Cosponsors added, H242 [18JA] H.R. 3023 — A bill to direct the Secretary of Veterans Affairs and the Secretary of Defense to furnish stellate ganglion block to veterans and members of the Armed Forces with post-traumatic stress disorder, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3656 [4JN] H.R. 3024 — A bill to amend the Family and Medical Leave Act of 1993 to permit additional leave for bone marrow or blood stem cell donation, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Oversight and Accountability, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H1297 [20MR], H2399 [15AP], H2701 [29AP], H3582 [3JN] H.R. 3029 — A bill to amend the Internal Revenue Code of 1986 to allow individuals with direct primary care service arrangements to remain eligible individuals for purposes of health savings accounts, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H253 [25JA], H366 [31JA] H.R. 3031 — A bill to designate as wilderness certain Federal portions of the red rock canyons of the Colorado Plateau and the Great Basin Deserts in the State of Utah for the benefit of present and future generations of people in the United States; to the Committee on Natural Resources. Cosponsors added, H242 [18JA], H681 [15FE], H697 [26FE], H1000 [6MR], H1149 [12MR], H1355 [21MR], H2291 [10AP], H2701 [29AP], H3330 [16MY] H.R. 3032 — A bill to amend the Internal Revenue Code of 1986 to equalize the charitable mileage rate with the business travel rate; to the Committee on Ways and Means. Cosponsors added, H693 [23FE], H1094 [11MR], H2636 [26AP] H.R. 3033 — A bill to repeal the sunset provision of the Iran Sanctions Act of 1996, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2399 [15AP] Text, H2426 [16AP] Rules suspended. Passed House, H2435 [16AP] Message from the House, S2824 [17AP] Referred to the Committee on Banking, Housing, and Urban Affairs, S2824 [17AP] H.R. 3036 — A bill to amend the Food Security Act of 1985 to modify the delivery of technical assistance, and for other purposes; to the Committee on Agriculture. Cosponsors added, H53 [10JA], H247 [22JA], H681 [15FE], H1058 [8MR], H2253 [9AP], H4110 [14JN] H.R. 3037 — A bill to amend the Food and Nutrition Act of 2008 to require that supplemental nutrition assistance program benefits be calculated using the value of the low-cost food plan, and for other purposes; to the Committee on Agriculture. Cosponsors added, H317 [30JA], H544 [9FE], H639 [14FE], H824 [5MR], H1000 [6MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H2399 [15AP] H.R. 3038 — A bill to amend title 9, United States Code, with respect to arbitration of disputes involving race discrimination; to the Committee on the Judiciary. Cosponsors added, H738 [28FE], H3526 [23MY], H3530 [24MY], H3656 [4JN] H.R. 3039 — A bill to prohibit the Administrator of the Federal Motor Carrier Safety Administration from issuing a rule or regulation requiring certain vehicles to be equipped with speed limiting devices, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H504 [6FE], H582 [13FE], H693 [23FE], H697 [26FE], H738 [28FE], H824 [5MR], H1149 [12MR], H1236 [19MR], H2253 [9AP], H2636 [26AP] H.R. 3042 — A bill to modify the requirements for candidate countries under the Millennium Challenge Act of 2003, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H3975 [12JN] H.R. 3046 — A bill to amend the Public Health Service Act to establish a grant program to award grants to accredited public institutions of higher education, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1236 [19MR] H.R. 3048 — A bill to establish the Space National Guard; to the Committee on Armed Services. Cosponsors added, H538 [7FE], H2938 [7MY] H.R. 3054 — A bill to amend the Internal Revenue Code of 1986 to allow the child tax credit with respect to stillbirths; to the Committee on Ways and Means. Cosponsors added, H432 [5FE] H.R. 3056 — A bill to improve commercialization activities in the SBIR and STTR programs, and for other purposes; to the Committee on Small Business, and in addition to the Committees on Science, Space, and Technology, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA], H432 [5FE], H824 [5MR], H2130 [29MR], H3681 [7JN] H.R. 3058 — A bill to amend parts B and E of title IV of the Social Security Act to improve foster and adoptive parent recruitment and retention, and for other purposes; to the Committee on Ways and Means. Reported with amendment (H. Rept. 118–347), H147 [16JA] Text, H173 [17JA] Rules suspended. Passed House amended, H229 [18JA] Message from the House, S201 [22JA] Referred to the Committee on Finance, S201 [22JA] H.R. 3061 — A bill to amend title 49, United States Code, to establish an Aviation Security Checkpoint Technology Fund in the Department of Homeland Security to fund investments in aviation security checkpoint technology, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H2559 [19AP] H.R. 3069 — A bill to amend title XI of the Social Security Act to improve access to care for all Medicare and Medicaid beneficiaries through models tested under the Center for Medicare and Medicaid Innovation, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2319 [11AP] H.R. 3073 — A bill to amend the Public Health Service Act to direct the Secretary of Health and Human Services, acting through the Director of the Centers for Disease Control and Prevention, to promote mental wellness and resilience and prevent and heal mental health, behavioral health, and psychosocial conditions through developmentally and culturally appropriate community programs, and award grants for the purpose of establishing, operating, or expanding community-based mental wellness and resilience programs, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1000 [6MR] H.R. 3074 — A bill to amend title XIX of the Social Security Act to remove the Medicaid coverage exclusion for inmates in custody pending disposition of charges, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H108 [11JA], H189 [17JA], H253 [25JA], H366 [31JA], H2291 [10AP], H2875 [6MY], H3975 [12JN], H4063 [13JN] H.R. 3079 — A bill to protect law enforcement officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H53 [10JA], H2771 [30AP] H.R. 3082 — A bill to require the Administrator of the Federal Aviation Administration to issue regulations concerning accommodations for powered wheelchairs, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H582 [13FE] H.R. 3083 — A bill to direct the Secretary of Health and Human Services to maintain a National Concussion and Traumatic Brain Injury Clearinghouse; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA], H504 [6FE] H.R. 3084 — A bill to amend the Internal Revenue Code of 1986 to establish a small business start-up tax credit for veterans creating businesses in underserved communities; to the Committee on Ways and Means. Cosponsors added, H14 [9JA] H.R. 3086 — A bill to provide for health coverage with no cost-sharing for additional breast screenings for certain individuals at greater risk for breast cancer; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Armed Services, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H639 [14FE], H1236 [19MR], H2121 [26MR], H2559 [19AP], H2701 [29AP], H3485 [22MY] H.R. 3090 — A bill to amend the Horse Protection Act to designate additional unlawful acts under the Act, strengthen penalties for violations of the Act, improve Department of Agriculture enforcement of the Act, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H253 [25JA], H2136 [2AP], H3205 [14MY] H.R. 3092 — A bill to establish a program to award grants to entities that provide transportation connectors from critically underserved communities to green spaces, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H273 [29JA], H390 [1FE], H504 [6FE], H582 [13FE], H3582 [3JN] H.R. 3096 — A bill to amend the Consumer Product Safety Act to remove the exclusion of pistols, revolvers, and other firearms from the definition of consumer product in order to permit the issuance of safety standards for such articles by the Consumer Product Safety Commission; to the Committee on Energy and Commerce. Cosponsors added, H2253 [9AP] H.R. 3100 — A bill to amend the Public Health Service Act to authorize a scholarship and loan repayment program to incentivize physicians to enter into the field of sickle cell disease research, treatment, and patient care, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3000 [8MY], H3205 [14MY] H.R. 3103 — A bill to promote and protect the human rights of Palestinians living under Israeli military occupation, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H2636 [26AP] H.R. 3104 — A bill to amend the Internal Revenue Code of 1986 to provide a charitable deduction for the service of volunteer firefighters and emergency medical and rescue personnel; to the Committee on Ways and Means. Cosponsors added, H681 [15FE], H4115 [18JN] H.R. 3106 — A bill to prohibit the disclosure of intimate digital depictions, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H247 [22JA], H253 [25JA], H273 [29JA], H317 [30JA], H366 [31JA], H390 [1FE], H432 [5FE], H582 [13FE], H639 [14FE], H681 [15FE], H693 [23FE], H824 [5MR], H1149 [12MR], H1236 [19MR], H2445 [16AP], H3582 [3JN], H3675 [5JN], H3681 [7JN] H.R. 3112 — A bill to amend the Richard B. Russell National School Lunch Act to establish statewide community eligibility for certain special assistance payments, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1189 [15MR], H3485 [22MY], H3727 [11JN] H.R. 3113 — A bill to amend the Child Nutrition Act of 1966 and the Richard B. Russell National School Lunch Act to eliminate reduced price breakfasts and lunches and to require that the income guidelines for determining eligibility for free breakfasts and free lunches be 200 percent of the poverty level, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1189 [15MR], H1236 [19MR] H.R. 3115 — A bill to provide that all Federal employees in the executive branch of the Federal Government are at-will employees, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H242 [18JA] H.R. 3124 — A bill to amend the Internal Revenue Code of 1986 to remove private or commercial golf courses and country clubs from the list of uses for which certain proceeds cannot be used; to the Committee on Ways and Means. Cosponsors added, H3007 [10MY], H3526 [23MY] H.R. 3125 — A bill to amend the Internal Revenue Code of 1986 to increase the information reporting threshold for slot winnings; to the Committee on Ways and Means. Cosponsors added, H108 [11JA] H.R. 3127 — A bill to amend the Food, Conservation, and Energy Act of 2008 to provide families year-round access to nutrition incentives, including hard-to-serve areas, and for other purposes; to the Committee on Agriculture. Cosponsors added, H639 [14FE], H1149 [12MR], H1355 [21MR], H2319 [11AP], H2831 [1MY] H.R. 3129 — A bill to ensure health care fairness and affordability for all Americans through universal access to equitable health insurance tax credits, reformed health savings accounts, and strengthened consumer protections, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA] H.R. 3131 — A bill to prohibit the use of funds to seek membership in the World Health Organization or to provide assessed or voluntary contributions to the World Health Organization; to the Committee on Foreign Affairs. Cosponsors added, H1355 [21MR] H.R. 3133 — A bill to amend title XVIII of the Social Security Act to provide coverage for acupuncturist services under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA] H.R. 3139 — A bill to amend the Internal Revenue Code of 1986 to exclude from gross income interest received on certain loans secured by rural or agricultural real property; to the Committee on Ways and Means. Cosponsors added, H53 [10JA], H504 [6FE], H2121 [26MR], H2445 [16AP], H2522 [18AP], H2636 [26AP], H2701 [29AP], H2771 [30AP], H3530 [24MY] H.R. 3143 — A bill to direct the Secretary of Education to award grants to eligible entities to carry out teacher leadership programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H253 [25JA] H.R. 3145 — A bill to allow property owners the discretion to make decisions regarding how many parking spots to provide in connection with certain new residential and commercial developments, and for other purposes; to the Committee on Financial Services. Cosponsors added, H273 [29JA] H.R. 3146 — A bill to amend the Internal Revenue Code of 1986 to modify the cover over of certain distilled spirits taxes; to the Committee on Ways and Means. Cosponsors added, H582 [13FE] H.R. 3147 — A bill to establish a defense industrial base advanced capabilities pilot program; to the Committee on Armed Services. Cosponsors added, H824 [5MR] H.R. 3148 — A bill to provide grants to State, local, territorial, and Tribal law enforcement agencies to purchase chemical screening devices and train personnel to use chemical screening devices in order to enhance law enforcement efficiency and protect law enforcement officers; to the Committee on the Judiciary. Cosponsors added, H693 [23FE], H3205 [14MY] H.R. 3149 — A bill to designate United States Route 20 in the States of Oregon, Idaho, Montana, Wyoming, Nebraska, Iowa, Illinois, Indiana, Ohio, Pennsylvania, New York, and Massachusetts as the ‘‘National Medal of Honor Highway’’, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H3485 [22MY] H.R. 3151 — A bill to amend the Child Nutrition Act of 1966 to require the Secretary of Agriculture to make publicly available information on infant formula procurement under the special supplemental nutrition program for women, infants, and children; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H2367 [12AP] H.R. 3159 — A bill to establish requirements for quality and discard dates that are voluntarily declared on the food label; to the Committee on Energy and Commerce, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR], H1000 [6MR] H.R. 3161 — A bill to amend the Riegle Community Development and Regulatory Improvement Act of 1994 to require the Director of the Community Development Financial Institutions Fund to testify on an annual basis before the Financial Services Committee of the House of Representatives and the Banking, Housing, and Urban Affairs Committee of the Senate; to the Committee on Financial Services. Cosponsors added, H738 [28FE], H824 [5MR], H1000 [6MR], H1149 [12MR], H1297 [20MR], H3330 [16MY] H.R. 3162 — A bill to amend the National Voter Registration Act of 1993 to require the Secretary of Homeland Security and the Commissioner of Social Security to provide information to States upon request which will enable States to verify the citizenship status of applicants for voter registration in elections for Federal office in the State and remove individuals who are not citizens of the United States from the list of individuals registered to vote in elections for Federal office in the State, and for other purposes; to the Committee on House Administration. Reported (H. Rept. 118–389), H637 [14FE] H.R. 3164 — A bill to amend title V of the Public Health Service Act to direct the Center for Mental Health Services to develop and disseminate a strategy to address the effects of new technologies on children’s mental health; to the Committee on Energy and Commerce. Cosponsors added, H3526 [23MY] H.R. 3165 — A bill to amend title 10, United States Code, to establish additional requirements for a military housing complaint database; to the Committee on Armed Services. Cosponsors added, H3399 [21MY], H3582 [3JN] H.R. 3169 — A bill to require the inspection of certain foreign cranes before use at a United States port, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H1058 [8MR] H.R. 3170 — A bill to amend the National Housing Act to establish a mortgage insurance program for first responders, and for other purposes; to the Committee on Financial Services. Cosponsors added, H366 [31JA], H693 [23FE], H774 [29FE], H1000 [6MR], H1094 [11MR], H1149 [12MR], H1236 [19MR], H2121 [26MR], H2130 [29MR], H2253 [9AP], H2319 [11AP], H2367 [12AP], H2701 [29AP], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3274 [15MY], H3330 [16MY], H3485 [22MY] H.R. 3176 — A bill to direct the Secretary of Veterans Affairs to carry out a pilot program to improve the ability of veterans to access medical care in medical facilities of the Department of Veterans Affairs and in the community by providing the veterans the ability to choose health care providers; to the Committee on Veterans’ Affairs. Cosponsors added, H3274 [15MY] H.R. 3177 — A bill to designate the facility of the United States Postal Service located at 1900 West Oakland Park Boulevard in Oakland Park, Florida, as the ‘‘Alcee Lamar Hastings Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H366 [31JA] H.R. 3179 — A bill to authorize funding to expand and support enrollment at institutions of higher education that sponsor construction and manufacturing-oriented registered apprenticeship programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H366 [31JA], H432 [5FE], H824 [5MR], H2367 [12AP], H2629 [23AP], H2875 [6MY], H4063 [13JN] H.R. 3183 — A bill to amend the Food and Nutrition Act of 2008 to remove certain eligibility disqualifications that restrict otherwise eligible students enrolled in institutions of higher education from participating in the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H14 [9JA], H504 [6FE], H544 [9FE], H824 [5MR], H1236 [19MR], H3727 [11JN] H.R. 3184 — A bill to establish a grant program to provide assistance to local law enforcement agencies, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1297 [20MR], H3274 [15MY], H3399 [21MY] H.R. 3189 — A bill to increase language access to behavioral health services at eligible health centers, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3681 [7JN] H.R. 3192 — A bill to require the Secretary of Veterans Affairs to establish and maintain a registry for certain individuals who may have been exposed to per- and polyfluoroalkyl substances due to the environmental release of aqueous film-forming foam on military installations; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE] H.R. 3194 — A bill to provide an earned path to citizenship, to address the root causes of migration and responsibly manage the southern border, and to reform the immigrant visa system, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Ways and Means, Armed Services, Education and the Workforce, House Administration, Financial Services, Natural Resources, Oversight and Accountability, Foreign Affairs, Homeland Security, Intelligence (Permanent Select), and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H582 [13FE], H1058 [8MR], H2291 [10AP] H.R. 3195 — A bill to rescind Public Land Order 7917, to reinstate mineral leases and permits in the Superior National Forest, to ensure timely review of Mine Plans of Operations, and for other purposes; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–377), H542 [9FE] Providing for consideration (H. Res. 1173), H2699 [29AP] Debated, H2718 [30AP] Motion to recommit, H2728 [30AP] Motion to recommit rejected, H2752 [30AP] Passed House amended, H2754 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Energy and Natural Resources, S3130 [1MY] H.R. 3197 — A bill to make demonstration grants to eligible local educational agencies or consortia of eligible local educational agencies for the purpose of increasing the numbers of school nurses in public elementary schools and secondary schools; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE] H.R. 3199 — A bill to amend title 5, United States Code, to provide increased locality pay rates to certain Bureau of Prisons employees whose duty stations are located in the pay locality designated as ‘‘Rest of U.S.’’, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H247 [22JA], H504 [6FE], H544 [9FE], H582 [13FE], H681 [15FE], H738 [28FE], H824 [5MR], H1058 [8MR], H2629 [23AP], H3399 [21MY] H.R. 3202 — A bill to prohibit any official action to recognize or normalize relations with any Government of Syria that is led by Bashar al-Assad, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA], H582 [13FE] Text, H560 [13FE] Rules suspended. Passed House amended, H618 [14FE] Message from the House, S983 [26FE] Referred to the Committee on Foreign Relations, S983 [26FE] H.R. 3204 — A bill to amend the Child Nutrition Act of 1966 and the Richard B. Russell National School Lunch Act to make breakfasts and lunches free for all children, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Agriculture, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1149 [12MR], H1499 [22MR], H2319 [11AP], H3205 [14MY] H.R. 3205 — A bill to disrupt the international fentanyl supply chain, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Oversight and Accountability, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H1000 [6MR], H1182 [13MR], H1297 [20MR] H.R. 3206 — A bill to amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits; to the Committee on Ways and Means. Cosponsors added, H2319 [11AP] H.R. 3207 — A bill to establish a grant program to address the crises in accessing affordable housing and child care through the co-location of housing and child care, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA], H544 [9FE], H681 [15FE], H688 [20FE], H1355 [21MR], H2445 [16AP] H.R. 3213 — A bill to amend title II of the Higher Education Act of 1965 with respect to partnership grants for the establishment of rural teaching residency programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H3399 [21MY] H.R. 3220 — A bill to enhance coverage and oversight of occupational safety and health standards in correctional facilities, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H317 [30JA], H738 [28FE] H.R. 3225 — A bill to improve the management and performance of the capital asset programs of the Department of Veterans Affairs so as to better serve veterans, their families, caregivers, and survivors, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H693 [23FE], H1499 [22MR], H2938 [7MY], H3656 [4JN], H4063 [13JN] H.R. 3227 — A bill to amend titles XVIII and XIX of the Social Security Act with respect to nursing facility requirements, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE] H.R. 3228 — A bill to establish the Mental Health in Schools Excellence Program to increase the recruitment and retention of school-based mental health services providers, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H824 [5MR], H2136 [2AP], H2319 [11AP], H2367 [12AP], H3007 [10MY], H3358 [17MY], H3526 [23MY], H3681 [7JN] H.R. 3230 — A bill to amend the Unfunded Mandates Reform Act of 1995 to provide for regulatory impact analyses for certain rules, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Rules, the Budget, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA] H.R. 3238 — A bill to amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H53 [10JA], H189 [17JA], H366 [31JA], H432 [5FE], H688 [20FE], H1149 [12MR], H2143 [5AP], H3358 [17MY], H3656 [4JN] H.R. 3239 — A bill to address systemic racism through the arts and humanities in the United States; to the Committee on Education and the Workforce. Cosponsors added, H273 [29JA], H1236 [19MR] H.R. 3240 — A bill to amend title 36, United States Code, to grant a Federal charter to the Veterans Association of Real Estate Professionals; to the Committee on the Judiciary. Cosponsors added, H1236 [19MR], H2253 [9AP], H3000 [8MY], H3274 [15MY], H3485 [22MY], H3582 [3JN] H.R. 3243 — A bill to amend the Federal Deposit Insurance Act to allow the Board of Directors of the Federal Deposit Insurance Corporation to guarantee noninterest-bearing transaction accounts for a certain period, and for other purposes; to the Committee on Financial Services. Cosponsors added, H242 [18JA] H.R. 3244 — A bill to provide authority to the Secretary of the Treasury to take special measures against certain entities outside of the United States of primary money laundering concern in connection with illicit fentanyl and narcotics financing, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H538 [7FE] H.R. 3245 — A bill to strengthen the partnership between the nonprofit organizations and the Federal Government, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1297 [20MR] H.R. 3246 — A bill to authorize the imposition of sanctions with respect to any foreign person endangering the integrity or safety of the Zaporzhzhia nuclear power plant; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3205 [14MY], H3274 [15MY] H.R. 3247 — A bill to prohibit the purchase, ownership, or possession of enhanced body armor by civilians, with exceptions; to the Committee on the Judiciary. Cosponsors added, H3007 [10MY] H.R. 3249 — A bill to provide incentives for the domestic production of printed circuit boards, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H1000 [6MR] H.R. 3250 — A bill to recognize the Margaret Woodbury Strong Museum in Rochester, New York; to the Committee on Natural Resources. Reported (H. Rept. 118–437), H2134 [2AP] Text, H2159 [9AP] Rules suspended. Passed House, H2274 [10AP] Message from the House, S2718 [11AP] H.R. 3251 — A bill to permit the territories of the United States to provide and furnish statues for placement in National Statuary Hall; to the Committee on House Administration. Cosponsors added, H2623 [20AP] H.R. 3258 — A bill to authorize the Secretary of Health and Human Services to award grants to eligible entities for creating or enhancing capacity to treat patients with Long COVID through a multidisciplinary approach; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H504 [6FE], H3582 [3JN] H.R. 3264 — A bill to amend the Internal Revenue Code of 1986 to provide a refundable tax credit for certain teachers as a supplement to State efforts to provide teachers with a livable wage, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2136 [2AP] H.R. 3265 — A bill to amend the Internal Revenue Code of 1986 to address the teacher and school leader shortage in early childhood, elementary, and secondary education, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1236 [19MR], H4110 [14JN] H.R. 3269 — A bill to modernize Federal firearms laws to account for advancements in technology and less-than-lethal weapons, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H273 [29JA], H390 [1FE], H504 [6FE], H582 [13FE], H681 [15FE], H697 [26FE], H738 [28FE], H824 [5MR], H1149 [12MR], H1297 [20MR], H2130 [29MR], H2445 [16AP], H3530 [24MY], H3656 [4JN] H.R. 3270 — A bill to amend the Internal Revenue Code of 1986 to permanently increase the standard deduction; to the Committee on Ways and Means. Cosponsors added, H1355 [21MR], H2130 [29MR], H3007 [10MY] H.R. 3271 — A bill to amend the Fair Labor Standards Act of 1938 to exclude child and dependent care services and payments from the rate used to compute overtime compensation; to the Committee on Education and the Workforce. Cosponsors added, H133 [12JA] H.R. 3276 — A bill to amend the Richard B. Russell National School Lunch Act to establish a pilot grant program to make grants to school food authorities to provide 100 percent plant-based food and milk options, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2291 [10AP] H.R. 3277 — A bill to amend the Department of Energy Organization Act with respect to functions assigned to Assistant Secretaries, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H504 [6FE] Reported (H. Rept. 118–402), H770 [29FE] Rules suspended. Passed House, H803 [5MR] Text, H803 [5MR] Message from the House, S2237 [6MR] H.R. 3283 — A bill to require the Assistant Secretary of Commerce for Communications and Information to report to Congress on any barriers to establishing online portals to accept, process, and dispose of certain Form 299s, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported from the Committee on Energy and Commerce (H. Rept. 118–545, part 1), H3679 [7JN] H.R. 3299 — A bill to require the Department of the Interior and the Department of Agriculture to establish online portals to accept, process, and dispose of certain Form 299s, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported from the Committee on Energy and Commerce (H. Rept. 118–546, part 1), H3679 [7JN] H.R. 3302 — A bill to protect Moms and babies against climate change, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H681 [15FE] H.R. 3303 — A bill to provide support for programs of the Department of Veterans Affairs relating to the coordination of maternity health care, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H253 [25JA], H1355 [21MR], H2445 [16AP], H3727 [11JN] H.R. 3304 — A bill to authorize appropriations for data collection, surveillance, and research on maternal health outcomes during public health emergencies, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H253 [25JA], H681 [15FE] H.R. 3305 — A bill to end preventable maternal mortality, severe maternal morbidity, and maternal health disparities in the United States, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, Veterans’ Affairs, Natural Resources, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H688 [20FE] H.R. 3308 — A bill to direct the Secretary of Labor to modify the implementation of the adverse effect wage rate for H-2A nonimmigrants; to the Committee on the Judiciary. Cosponsors added, H14 [9JA] H.R. 3310 — A bill to end preventable maternal mortality and severe maternal morbidity in the United States and close disparities in maternal health outcomes, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA] H.R. 3312 — A bill to address maternal mental health conditions and substance use disorders, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3399 [21MY], H3485 [22MY] H.R. 3315 — A bill to exempt for an additional 4-year period, from the application of the means-test presumption of abuse under chapter 7, qualifying members of reserve components of the Armed Forces and members of the National Guard who, after September 11, 2001, are called to active duty or to perform a homeland defense activity for not less than 90 days; to the Committee on the Judiciary. Approved [Public Law 118–24] (signed December 19, 2023) H.R. 3317 — A bill to amend title 49, United States Code, to remove the lifetime exemption from the prohibition on procurement of rolling stock from certain vehicle manufacturers for parties to executed contracts; to the Committee on Transportation and Infrastructure. Reported (H. Rept. 118–508), H3202 [14MY] Rules suspended. Passed House, H3382 [21MY] Text, H3382 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on Banking, Housing, and Urban Affairs, S3849 [22MY] H.R. 3320 — A bill to amend the Public Health Service Act to improve maternal health data collection processes and quality measures, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H253 [25JA] H.R. 3322 — A bill to address social determinants of maternal health to eliminate maternal mortality, severe maternal morbidity, and maternal health disparities, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA] H.R. 3325 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to authorize law enforcement agencies to use COPS grants for recruitment activities, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H681 [15FE], H774 [29FE], H1058 [8MR], H2253 [9AP], H2701 [29AP], H2831 [1MY], H2875 [6MY] Reported with amendment (H. Rept. 118–481), H2873 [6MY] H.R. 3327 — A bill to require the Secretary of Energy to receive approval from the Secretary of Housing and Urban Development with respect to manufactured housing energy efficiency standards issued by the Secretary of Energy, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H697 [26FE] H.R. 3329 — A bill to prohibit taxpayer-funded gender transition procedures, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA] H.R. 3331 — A bill to amend the Richard B. Russell National School Lunch Act to modify requirements for local school wellness policies; to the Committee on Education and the Workforce. Cosponsors added, H432 [5FE], H824 [5MR], H2367 [12AP], H3358 [17MY] H.R. 3332 — A bill to extend eligibility for the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) for new moms, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H366 [31JA] H.R. 3333 — A bill to impose sanctions with respect to trafficking of illicit fentanyl and its precursors by transnational criminal organizations, including cartels, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H253 [25JA], H317 [30JA], H504 [6FE], H582 [13FE], H1034 [7MR], H1236 [19MR], H2130 [29MR], H2559 [19AP], H2938 [7MY] H.R. 3334 — A bill to provide for the imposition of sanctions on members of the National Communist Party Congress of the People’s Republic of China, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1236 [19MR] H.R. 3344 — A bill to end the shackling of pregnant individuals, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H4063 [13JN] H.R. 3346 — A bill to direct the Administrator of the Centers for Medicare & Medicaid Services to implement the Perinatal Care Alternative Payment Model Demonstration Project to test various payment models with respect to maternity care provided to pregnant and postpartum individuals, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H390 [1FE], H1189 [15MR] H.R. 3347 — A bill to prohibit the Secretary of Veterans Affairs from replacing physician anesthesiologists with certified registered nurse anesthetists under the health care system of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H189 [17JA], H538 [7FE], H774 [29FE], H1297 [20MR], H2938 [7MY], H3399 [21MY], H3582 [3JN], H3727 [11JN] H.R. 3348 — A bill to amend the Public Health Service Act with respect to maternal vaccination awareness and equity, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA] H.R. 3350 — A bill to amend title 54, United States Code, to extend funding for the Historic Preservation Fund; to the Committee on Natural Resources. Cosponsors added, H189 [17JA], H582 [13FE], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1236 [19MR], H2319 [11AP], H3007 [10MY], H3485 [22MY], H3530 [24MY], H3727 [11JN] H.R. 3352 — A bill to amend the Internal Revenue Code of 1986 to treat diapers as qualified medical expenses; and to prohibit States and local governments to impose a tax on the retail sale of diapers; to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR] H.R. 3354 — A bill to designate the facility of the United States Postal Service located at 220 North Hatcher Avenue in Purcellville, Virginia, as the ‘‘Secretary of State Madeleine Albright Post Office Building’’; to the Committee on Oversight and Accountability. Text, H2855 [6MY] Rules suspended. Passed House, H2889 [7MY] Message from the House, S3593 [8MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3593 [8MY] H.R. 3364 — A bill to amend the Child Nutrition Act of 1966 to increase the age of eligibility for children to receive benefits under the special supplemental nutrition program for women, infants, and children, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1297 [20MR], H3681 [7JN] H.R. 3366 — A bill to amend the Middle Class Tax Relief and Job Creation Act of 2012 to reauthorize the First Responder Network Authority; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H2445 [16AP], H2875 [6MY], H3330 [16MY] H.R. 3372 — A bill to amend title 23, United States Code, to establish a safety data collection program for certain 6-axle vehicles, and for other purposes; to the Committee on Transportation and Infrastructure. Reported with amendment (H. Rept. 118–352), H239 [18JA] H.R. 3375 — A bill to establish programs to address addiction and overdoses caused by illicit fentanyl and other opioids, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR], H1058 [8MR], H2636 [26AP], H2701 [29AP] H.R. 3376 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to authorize law enforcement agencies to use COPS grants to recruit and retain law enforcement officers; to the Committee on the Judiciary. Cosponsors added, H2559 [19AP] H.R. 3377 — A bill to discourage speculative oil and gas leasing and to promote enhanced multiple use management of public land and National Forest System land, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H273 [29JA] H.R. 3380 — A bill to amend the Public Health Service Act to expand and improve health care services by health centers and the National Health Service Corps for individuals with a developmental disability, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H242 [18JA], H317 [30JA], H693 [23FE], H1094 [11MR], H2143 [5AP], H2399 [15AP], H3582 [3JN] H.R. 3381 — A bill to authorize the Attorney General to establish the National Law Enforcement Officers Remembrance, Support and Community Outreach program, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H273 [29JA], H366 [31JA], H504 [6FE], H582 [13FE], H774 [29FE], H1236 [19MR], H1355 [21MR], H2253 [9AP], H2291 [10AP], H2367 [12AP], H2399 [15AP], H2503 [17AP], H2701 [29AP], H2938 [7MY] H.R. 3382 — A bill to amend title XVIII of the Social Security Act to eliminate the coinsurance requirement for certain colorectal cancer screening tests furnished under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE], H824 [5MR], H1236 [19MR], H2121 [26MR], H2130 [29MR] H.R. 3383 — A bill to amend the Small Business Investment Act of 1958 to establish an employee equity investment facility, and for other purposes; to the Committee on Small Business. Cosponsors added, H3330 [16MY] H.R. 3385 — A bill to direct the Assistant Secretary of Commerce for Communications and Information to submit to Congress a report containing an assessment of the value, cost, and feasibility of developing a trans-Atlantic submarine fiber optic cable connecting the contiguous United States, the United States Virgin Islands, Ghana, and Nigeria, and for other purposes; to the Committee on Energy and Commerce. Rules suspended. Passed House amended, H801 [5MR] Text, H801 [5MR] Title amended, H803 [5MR] Message from the House, S2237 [6MR] Referred to the Committee on Commerce, Science, and Transportation, S2237 [6MR] H.R. 3386 — A bill to amend the Bottles and Breastfeeding Equipment Screening Act to require hygienic handling of breast milk and baby formula by security screening personnel of the Transportation Security Administration and personnel of private security companies providing security screening, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H273 [29JA], H582 [13FE], H1189 [15MR], H2291 [10AP], H2503 [17AP], H3727 [11JN], H4115 [18JN] H.R. 3387 — A bill to amend the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to provide for certain health coverage of newborns; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1189 [15MR], H1236 [19MR], H2319 [11AP], H4115 [18JN] H.R. 3391 — A bill to extend the Gabriella Miller Kids First Pediatric Research Program at the National Institutes of Health, and for other purposes; to the Committee on Energy and Commerce. Text, H792 [5MR] Rules suspended. Passed House amended, H805 [5MR] Message from the House, S2237 [6MR] Referred to the Committee on Health, Education, Labor, and Pensions, S2330 [8MR] H.R. 3392 — A bill to support and strengthen the fighter aircraft capabilities of the Air Force, and for other purposes; to the Committee on Armed Services. Cosponsors added, H2875 [6MY] H.R. 3394 — A bill to amend title 49, United States Code, to improve the ability of the Transportation Security Administration to carry out its security mission by ensuring that revenues collected from passengers as aviation security fees are used to help finance the costs of aviation security screening, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H108 [11JA], H582 [13FE], H774 [29FE], H824 [5MR], H2938 [7MY], H3330 [16MY], H4063 [13JN] H.R. 3396 — A bill to require the standardization of reciprocal fire suppression cost share agreements, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, Armed Services, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H639 [14FE], H697 [26FE], H738 [28FE], H1000 [6MR], H1034 [7MR], H1058 [8MR], H2136 [2AP], H2253 [9AP] H.R. 3397 — A bill to require the Director of the Bureau of Land Management to withdraw a rule of the Bureau of Land Management relating to conservation and landscape health; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–378), H542 [9FE] Providing for consideration (H. Res. 1173), H2699 [29AP] Debated, H2740 [30AP] Text, H2740 [30AP] Motion to recommit rejected, H2748 [30AP] Passed House amended, H2750 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Energy and Natural Resources, S3130 [1MY] H.R. 3398 — A bill to establish criminal offenses with respect to violations involving ATMs., and for other purposes; to the Committee on the Judiciary. Cosponsors added, H824 [5MR] H.R. 3400 — A bill to amend the National Labor Relations Act to adjust the dollar thresholds for National Labor Relations Board jurisdiction over certain labor disputes, and for other purposes; to the Committee on Education and the Workforce. Reported with amendment (H. Rept. 118–343), H105 [11JA] H.R. 3404 — A bill to require the Secretary of Transportation to promulgate regulations relating to the approval of foreign manufacturers of cylinders, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H538 [7FE], H1236 [19MR], H2253 [9AP] H.R. 3405 — A bill to allow amounts made available for the Continuum of Care program of the Secretary of Housing and Urban Development; to the Committee on Financial Services. Cosponsors added, H108 [11JA] H.R. 3408 — A bill to establish an apprenticeship program for commercial drivers under the age of 21, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H53 [10JA], H3727 [11JN] H.R. 3409 — A bill to allow Americans to earn paid sick time so that they can address their own health needs and the health needs of their families; to the Committee on Education and the Workforce, and in addition to the Committees on House Administration, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H681 [15FE], H697 [26FE], H1094 [11MR], H2253 [9AP], H2367 [12AP], H3399 [21MY] H.R. 3410 — A bill to amend the Water Resources Development Act of 1986 to modify a provision relating to acquisition of beach fill; to the Committee on Transportation and Infrastructure. Cosponsors added, H273 [29JA] H.R. 3411 — A bill to increase access to higher education by providing public transit grants; to the Committee on Transportation and Infrastructure. Cosponsors added, H582 [13FE], H3681 [7JN] H.R. 3413 — A bill to require the Secretary of Transportation to issue a rule requiring access to AM broadcast stations in motor vehicles, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H253 [25JA], H317 [30JA], H504 [6FE], H639 [14FE], H681 [15FE], H693 [23FE], H738 [28FE], H774 [29FE], H781 [1MR], H824 [5MR], H1000 [6MR], H1034 [7MR], H1094 [11MR], H1149 [12MR], H1189 [15MR], H1236 [19MR], H2130 [29MR], H2143 [5AP], H2253 [9AP], H2319 [11AP], H2445 [16AP], H2503 [17AP], H2771 [30AP], H3007 [10MY], H3205 [14MY], H3656 [4JN], H3681 [7JN] H.R. 3415 — A bill to direct the Secretary of the Interior to convey to the Midvale Irrigation District the Pilot Butte Power Plant in the State of Wyoming, and for other purposes; to the Committee on Natural Resources. Reported (H. Rept. 118–367), H314 [30JA] Text, H399 [5FE] Rules suspended. Passed House, H519 [7FE] Message from the House, S491 [8FE] H.R. 3416 — A bill to establish a competitive grant program to support out-of-school-time youth workforce readiness programs, providing employability skills development, career exploration, employment readiness training, mentoring, work-based learning, and workforce opportunities for eligible youth; to the Committee on Education and the Workforce. Cosponsors added, H253 [25JA], H317 [30JA], H1034 [7MR], H1149 [12MR], H1189 [15MR], H1236 [19MR], H1297 [20MR], H2291 [10AP], H3205 [14MY], H3656 [4JN], H3727 [11JN] H.R. 3417 — A bill to ensure fair billing practices for items and services furnished by off-campus outpatient departments of a provider; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP], H3727 [11JN] H.R. 3418 — A bill to amend the Fair Credit Reporting Act to clarify Federal law with respect to reporting certain consumer credit information to consumer reporting agencies, and for other purposes; to the Committee on Financial Services. Cosponsors added, H774 [29FE], H824 [5MR], H1000 [6MR], H3000 [8MY], H3205 [14MY], H3485 [22MY] H.R. 3420 — A bill to protect the privacy of personal reproductive or sexual health information, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1499 [22MR], H2253 [9AP] H.R. 3421 — A bill to establish an improved Medicare for All national health insurance program; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Education and the Workforce, Rules, Oversight and Accountability, Armed Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE] H.R. 3423 — A bill to amend the Agricultural Trade Act of 1978 to preserve foreign markets for goods using common names, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY] H.R. 3425 — A bill to amend the National Agricultural Research, Extension, and Teaching Policy Act of 1977 to authorize capacity building grants for community college agriculture and natural resources programs; to the Committee on Agriculture. Cosponsors added, H504 [6FE], H538 [7FE], H582 [13FE], H681 [15FE], H1058 [8MR] H.R. 3432 — A bill to amend title XVIII of the Social Security Act to ensure coverage of mental and behavioral health services furnished through telehealth; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H639 [14FE], H2253 [9AP], H2291 [10AP], H2771 [30AP], H3205 [14MY], H3274 [15MY], H3582 [3JN], H3727 [11JN], H4063 [13JN], H4115 [18JN] H.R. 3433 — A bill to amend the Federal Food, Drug, and Cosmetic Act with respect to molecularly targeted pediatric cancer investigations, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H108 [11JA], H133 [12JA], H148 [16JA], H242 [18JA], H247 [22JA], H253 [25JA], H273 [29JA], H317 [30JA], H366 [31JA], H390 [1FE], H432 [5FE], H504 [6FE], H538 [7FE], H582 [13FE], H639 [14FE], H681 [15FE], H684 [16FE], H693 [23FE], H697 [26FE], H738 [28FE], H774 [29FE], H824 [5MR], H1034 [7MR], H1094 [11MR], H1182 [13MR], H1189 [15MR], H1236 [19MR], H2130 [29MR], H2143 [5AP], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2367 [12AP], H2445 [16AP], H2636 [26AP], H3007 [10MY], H3205 [14MY], H3681 [7JN] H.R. 3434 — A bill to authorize the Secretary of Education to award grants to eligible entities to carry out educational programs that include the history of peoples of Asian, Native Hawaiian, and Pacific Islander descent in the settling and founding of America, the social, economic, and political environments that led to the development of discriminatory laws targeting Asians, Native Hawaiians, and Pacific Islanders and their relation to current events, and the impact and contributions of Asian Americans, Native Hawaiians, and Pacific Islanders to the development and enhancement of American life, United States history, literature, the economy, politics, body of laws, and culture, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H824 [5MR] H.R. 3435 — A bill to amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions; to the Committee on Ways and Means. Cosponsors added, H148 [16JA], H738 [28FE], H2121 [26MR], H2399 [15AP] H.R. 3436 — A bill to direct the Election Assistance Commission to establish a program to make grants to States to provide increased pay for election workers, and for other purposes; to the Committee on House Administration. Cosponsors added, H681 [15FE], H2136 [2AP] H.R. 3440 — A bill to amend title XVIII of the Social Security Act to protect access to telehealth services under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2130 [29MR], H2629 [23AP] H.R. 3442 — A bill to amend the Immigration and Nationality Act to authorize lawful permanent resident status for certain college graduates who entered the United States as children, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H824 [5MR] H.R. 3443 — A bill to support the establishment or expansion and operation of programs using a network of public and private community entities to provide mentoring for children and youth with experience in foster care; to the Committee on Ways and Means. Cosponsors added, H582 [13FE], H681 [15FE] H.R. 3444 — A bill to establish the Strength in Diversity Program, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H432 [5FE], H1297 [20MR] H.R. 3446 — A bill to impose certain limitations on consent decrees and settlement agreements by agencies that require the agencies to take regulatory action in accordance with the terms thereof, and for other purposes; to the Committee on the Judiciary. Reported with amendment (H. Rept. 118–443), H2140 [5AP] H.R. 3451 — A bill to authorize the Secretary of Education to establish an Advisory Commission on Serving and Supporting Students with Mental Health Disabilities in Institutions of Higher Education, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1182 [13MR] H.R. 3456 — A bill to require the Comptroller General of the United States to submit reports to Congress on theft of mail and United States Postal Service property, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H681 [15FE] H.R. 3464 — A bill to exempt small seller financers from certain licensing requirements; to the Committee on Financial Services. Cosponsors added, H247 [22JA], H3727 [11JN] H.R. 3468 — A bill to direct the Secretary of Energy to establish a grant program to facilitate electric vehicle sharing services operated at public housing projects, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE], H2938 [7MY] H.R. 3470 — A bill to prohibit and prevent seclusion, mechanical restraint, chemical restraint, and dangerous restraints that restrict breathing, and to prevent and reduce the use of physical restraint in schools, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H242 [18JA], H253 [25JA], H432 [5FE], H544 [9FE], H1236 [19MR], H2143 [5AP], H2399 [15AP], H3358 [17MY] H.R. 3473 — A bill to amend the Internal Revenue Code of 1986 to modify employer-provided fringe benefits for bicycle commuting; to the Committee on Ways and Means. Cosponsors added, H390 [1FE] H.R. 3474 — A bill to amend the Food and Nutrition Act of 2008 to streamline nutrition access for older adults and adults with disabilities, and for other purposes; to the Committee on Agriculture. Cosponsors added, H53 [10JA], H148 [16JA], H242 [18JA], H253 [25JA], H366 [31JA], H544 [9FE], H2130 [29MR], H3727 [11JN] H.R. 3475 — A bill to amend the Agriculture Improvement Act of 2018 to prohibit the slaughter of equines for human consumption; to the Committee on Agriculture. Cosponsors added, H53 [10JA], H189 [17JA], H253 [25JA], H693 [23FE], H2143 [5AP], H2319 [11AP], H3485 [22MY] H.R. 3478 — A bill to amend the Federal Crop Insurance Act to establish a Good Steward Cover Crop program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H824 [5MR], H1034 [7MR], H1182 [13MR], H1236 [19MR], H1297 [20MR], H1355 [21MR] H.R. 3479 — A bill to amend the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 to allow individuals with drug offenses to receive benefits under the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H1034 [7MR] H.R. 3481 — A bill to provide paid family and medical leave benefits to certain individuals, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H53 [10JA], H366 [31JA], H504 [6FE], H538 [7FE], H681 [15FE], H697 [26FE], H1034 [7MR], H1094 [11MR], H1236 [19MR], H2253 [9AP], H2399 [15AP], H2503 [17AP], H2559 [19AP], H3000 [8MY], H3205 [14MY], H3399 [21MY], H3485 [22MY], H3582 [3JN], H3681 [7JN] H.R. 3482 — A bill to require the Secretary of Labor to establish a pilot program for providing portable benefits to eligible workers, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H3727 [11JN] H.R. 3486 — A bill to exert American nuclear leadership by establishing global relationships and facilitating civil nuclear trade strategies with embarking nuclear nations, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H3526 [23MY], H3656 [4JN], H3681 [7JN], H4110 [14JN] H.R. 3489 — A bill to amend title 10, United States Code, to eliminate the recoupment of separation pay, special separation benefits, and voluntary separation incentive payments from members of the Armed Forces who subsequently receive disability compensation under laws administered by the Department of Veterans Affairs and to impose limitations on the authority of the Secretary of Defense to recoup such pay from members who subsequently receive military retired or retainer pay; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2636 [26AP] H.R. 3491 — A bill to amend the Age Discrimination in Employment Act of 1967 to prohibit employers from limiting, segregating, or classifying applicants for employment; to the Committee on Education and the Workforce. Cosponsors added, H1355 [21MR], H2319 [11AP], H3526 [23MY], H4110 [14JN] H.R. 3492 — A bill to prohibit Federal funding of State firearm ownership databases, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H148 [16JA], H544 [9FE] H.R. 3493 — A bill to amend title III of the Americans with Disabilities Act of 1990 to require an opportunity to correct an alleged violation as a precondition to commencing a civil action with respect to a place of public accommodation or a commercial facility; to the Committee on the Judiciary. Cosponsors added, H693 [23FE], H1034 [7MR] H.R. 3495 — A bill to modify the requirements applicable to locatable minerals on public domain lands, consistent with the principles of self-initiation of mining claims, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H14 [9JA], H432 [5FE], H2559 [19AP] H.R. 3497 — A bill to amend the Radiation Exposure Compensation Act with respect to claims relating to uranium mining; to the Committee on the Judiciary, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H538 [7FE], H639 [14FE], H738 [28FE], H1236 [19MR] H.R. 3498 — A bill to facilitate nationwide accessibility and coordination of 211 services and 988 services in order to provide information and referral to all residents and visitors in the United States for mental health emergencies, homelessness needs, other social and human services needs, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3681 [7JN], H3975 [12JN] H.R. 3499 — A bill to amend title 5, United States Code, to provide direct hire authority to appoint individuals to Federal wildland firefighting and firefighting support positions in the Forest Service or the Department of the Interior, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Natural Resources, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3399 [21MY] H.R. 3501 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to authorize a grant program for law enforcement agencies and corrections agencies to obtain behavioral health crisis response training for law enforcement officers and corrections officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2319 [11AP], H3399 [21MY], H3675 [5JN] H.R. 3503 — A bill to direct the Secretary of Health and Human Services, acting through the Director of the National Institutes of Health, to take certain steps to increase clinical trial diversity, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H774 [29FE], H2121 [26MR], H2130 [29MR], H2629 [23AP], H2875 [6MY], H3399 [21MY], H3485 [22MY], H4063 [13JN] H.R. 3504 — A bill to direct the Secretary of Veterans Affairs to submit to each of the Committees on Veterans’ Affairs of the Senate and the House of Representatives an annual report regarding security at medical centers of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H390 [1FE], H2291 [10AP] H.R. 3507 — A bill to require certain grantees under title I of the Housing and Community Development Act of 1974 to submit a plan to track discriminatory land use policies, and for other purposes; to the Committee on Financial Services. Cosponsors added, H544 [9FE], H738 [28FE], H774 [29FE], H1355 [21MR], H2253 [9AP], H3007 [10MY] H.R. 3510 — A bill to exempt grants received under the Coronavirus Economic Relief for Transportation Services (CERTS) Act from Federal taxation; to the Committee on Ways and Means. Cosponsors added, H247 [22JA], H254 [25JA] H.R. 3511 — A bill to amend the Small Business Act to require training on increasing contract awards to small business concerns owned and controlled by service-disabled veterans, and for other purposes; to the Committee on Small Business. Rules suspended. Passed House, H719 [28FE] Text, H719 [28FE] Message from the House, S1075 [29FE] Referred to the Committee on Small Business and Entrepreneurship, S1075 [29FE] H.R. 3519 — A bill to amend the Food and Nutrition Act of 2008 to permit supplemental nutrition assistance program benefits to be used to purchase additional types of food items; to the Committee on Agriculture. Cosponsors added, H254 [25JA], H1058 [8MR], H1149 [12MR], H1236 [19MR], H2136 [2AP], H3000 [8MY], H3681 [7JN] H.R. 3520 — A bill to improve the provision of care and services under the Veterans Community Care Program of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H697 [26FE], H1000 [6MR], H2522 [18AP] H.R. 3523 — A bill to grow and diversify the perinatal workforce, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA] H.R. 3525 — A bill to establish a Natural Disaster Risk Reinsurance Program, and for other purposes; to the Committee on Financial Services. Cosponsors added, H544 [9FE] H.R. 3535 — A bill to amend section 337 of the Tariff Act of 1930 with respect to requirements for domestic industries, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H2636 [26AP] H.R. 3536 — A bill to direct the President to submit to Congress a report on fugitives currently residing in other countries whose extradition is sought by the United States and related matters, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H2367 [12AP] H.R. 3537 — A bill to require the Secretary of the Treasury to mint a coin in recognition of the 100th anniversary of the United States Foreign Service and its contribution to United States diplomacy; to the Committee on Financial Services. Cosponsors added, H242 [18JA], H697 [26FE], H1189 [15MR], H1236 [19MR], H2130 [29MR], H2399 [15AP], H2503 [17AP], H2701 [29AP], H3399 [21MY], H3582 [3JN], H3656 [4JN], H4115 [18JN] H.R. 3538 — A bill to reduce the annual rate of pay of Members of Congress if the public debt limit is reached or a Government shutdown occurs during a year, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H738 [28FE], H1000 [6MR] H.R. 3539 — A bill to provide collective bargaining rights for public safety officers employed by States or their political subdivisions, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H432 [5FE], H681 [15FE], H824 [5MR], H1000 [6MR], H1034 [7MR], H1094 [11MR], H1189 [15MR], H2143 [5AP], H2253 [9AP], H2445 [16AP] H.R. 3541 — A bill to amend the Student Support and Academic Enrichment Grant program to promote career awareness in accounting as part of a well-rounded STEM educational experience; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H53 [10JA], H108 [11JA], H148 [16JA], H273 [29JA], H390 [1FE], H582 [13FE], H688 [20FE], H2130 [29MR], H2831 [1MY], H2938 [7MY] H.R. 3542 — A bill to amend the National Agricultural Research, Extension, and Teaching Policy Act of 1977 to eliminate the prohibition on indirect costs with respect to aquaculture assistance, and for other purposes; to the Committee on Agriculture. Cosponsors added, H1000 [6MR], H1236 [19MR] H.R. 3545 — A bill to award a Congressional Gold Medal to the military intelligence professionals at Camp Ritchie, commonly known as the ‘‘Ritchie Boys’’, in recognition of their groundbreaking contributions to the field of human intelligence and their outstanding service during World War II; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2319 [11AP], H3975 [12JN] H.R. 3548 — A bill to address mental health issues for youth, particularly youth of color, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H824 [5MR], H1236 [19MR], H2836 [2MY], H2875 [6MY], H3274 [15MY] H.R. 3549 — A bill to amend title XVIII of the Social Security Act to ensure Medicare-only PACE program enrollees have a choice of prescription drug plans under Medicare part D; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP] H.R. 3565 — A bill to authorize the Federal Communications Commission to use a system of competitive bidding to grant a license or a permit for use of electromagnetic spectrum and to direct proceeds from such a system of competitive bidding for communications and technology initiatives, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR] H.R. 3567 — A bill to prevent discrimination and retaliation against incarcerated workers, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1000 [6MR] H.R. 3576 — A bill to expand access to breastfeeding accommodations in the workplace for certain employees of air carrier employers; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H247 [22JA], H366 [31JA], H1000 [6MR], H1236 [19MR], H2291 [10AP], H3526 [23MY] H.R. 3577 — A bill to require the Assistant Secretary for Preparedness and Response to establish an automated supply chain tracking application that provides near real-time insight into the amount of critical medical and health supplies available in the Strategic National Stockpile; to the Committee on Energy and Commerce. Cosponsors added, H3975 [12JN] H.R. 3582 — A bill to amend the Internal Revenue Code of 1986 to exclude certain post-graduation scholarship grants from gross income in the same manner as qualified scholarships to promote economic growth; to the Committee on Ways and Means. Cosponsors added, H1297 [20MR], H2938 [7MY] H.R. 3583 — A bill to provide for the overall health and well-being of young people, including the promotion and attainment of lifelong sexual health and healthy relationships, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE], H2831 [1MY], H3205 [14MY] H.R. 3584 — A bill to direct the Secretary of Veterans Affairs to conduct and support research on the efficacy and safety of medicinal cannabis, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H14 [9JA], H3656 [4JN] H.R. 3589 — A bill to require group health plans and group or individual health insurance coverage to provide coverage for over-the-counter contraceptives; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR] H.R. 3591 — A bill to amend the Immigration and Nationality Act to permanently bar aliens who are ordered removed after failing to appear at a removal proceeding, absent exceptional circumstances, from becoming permanent residents of the United States; to the Committee on the Judiciary. Cosponsors added, H1297 [20MR], H1355 [21MR], H1499 [22MR], H2130 [29MR], H2445 [16AP] H.R. 3592 — A bill to award a Congressional Gold Medal to members of the Red Cross Supplemental Recreational Activities Overseas (SRAO) program, also known as the ‘‘Donut Dollies’’, who served honorably during the Vietnam conflict; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H2629 [23AP], H3675 [5JN], H3727 [11JN] H.R. 3596 — A bill to prohibit the use of corporal punishment in schools, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1499 [22MR], H2629 [23AP], H2875 [6MY], H3485 [22MY] H.R. 3599 — A bill to reform the immigration laws; to the Committee on the Judiciary, and in addition to the Committees on Homeland Security, Ways and Means, Agriculture, Transportation and Infrastructure, the Budget, Education and the Workforce, Foreign Affairs, Oversight and Accountability, Intelligence (Permanent Select), Financial Services, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H189 [17JA], H254 [25JA], H639 [14FE], H1000 [6MR], H2319 [11AP], H2503 [17AP], H3000 [8MY] H.R. 3600 — A bill to amend title 38, United States Code, to improve the VA Work-Study program; to the Committee on Veterans’ Affairs. Cosponsors added, H824 [5MR], H2319 [11AP] H.R. 3601 — A bill to amend title 38, United States Code, to extend eligibility for a certain work-study allowance paid by the Secretary of Veterans Affairs to certain individuals who pursue programs of rehabilitation, education, or training on at least a half-time basis, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H432 [5FE], H824 [5MR], H1236 [19MR], H3274 [15MY] H.R. 3602 — A bill to prohibit the intentional hindering of immigration, border, and customs controls, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2559 [19AP] Debated, H2533 [19AP] Text, H2533 [19AP] Failed of passage under suspension of the rules, H2614 [20AP] H.R. 3605 — A bill to amend the Higher Education Act of 1965 to direct the Secretary of Education to award institutions of higher education grants for teaching English learners; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H317 [30JA], H1236 [19MR], H3000 [8MY] H.R. 3606 — A bill to improve the English language and literacy skills of English language learners and their families, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H317 [30JA], H1236 [19MR], H3000 [8MY] H.R. 3607 — A bill to establish high-quality dual language immersion programs in low-income communities, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H317 [30JA], H1236 [19MR] H.R. 3608 — A bill to designate the facility of the United States Postal Service located at 28081 Marguerite Parkway in Mission Viejo, California, as the ‘‘Major Megan McClung Post Office Building’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3551 [3JN] Text, H3551 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 3611 — A bill to authorize the extension of nondiscriminatory treatment (normal trade relations treatment) to the products of Kazakhstan; to the Committee on Ways and Means. Cosponsors added, H242 [18JA], H317 [30JA], H582 [13FE], H639 [14FE], H738 [28FE], H824 [5MR], H2367 [12AP], H2771 [30AP], H3530 [24MY], H3727 [11JN] H.R. 3615 — A bill to direct the Secretary of Energy to carry out a demonstration program for projects that improve electric grid resilience with respect to wildfires, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H3582 [3JN] H.R. 3616 — A bill to direct the Administrator of the Federal Aviation Administration to include medications and medical equipment for the emergency treatment of known or suspected opioid overdose in aircraft emergency medical kits, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H2367 [12AP] H.R. 3618 — A bill to establish a grant program to encourage schools to conduct independent facility security risk assessments and make hard security improvements, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1355 [21MR] H.R. 3619 — A bill to amend the Federal Food, Drug, and Cosmetic Act to ban certain substances in cosmetic products, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2875 [6MY], H3205 [14MY], H3274 [15MY], H3399 [21MY], H3582 [3JN] H.R. 3620 — A bill to amend the Public Health Service Act with respect to cosmetic safety, with an emphasis on communities of color and professional salon workers, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2875 [6MY], H3205 [14MY], H3274 [15MY], H3399 [21MY], H3582 [3JN] H.R. 3621 — A bill to amend title VI of the Federal Food, Drug, and Cosmetic Act to provide for greater transparency with respect to fragrance and flavor ingredients in cosmetics, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2875 [6MY], H3205 [14MY], H3399 [21MY], H3582 [3JN] H.R. 3622 — A bill to amend title VI of the Federal Food, Drug, and Cosmetic Act to ensure the supply chain transparency needed for companies to make safe cosmetics, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2875 [6MY], H3205 [14MY], H3399 [21MY], H3582 [3JN] H.R. 3624 — A bill to amend the Internal Revenue Code of 1986 to provide that floor plan financing includes the financing of certain trailers and campers; to the Committee on Ways and Means. Cosponsors added, H538 [7FE], H681 [15FE], H1034 [7MR], H3681 [7JN] H.R. 3625 — A bill to amend the Older Americans Act of 1965 to provide equal treatment of LGBTQI older individuals, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H148 [16JA], H189 [17JA], H254 [25JA], H688 [20FE], H2253 [9AP] H.R. 3628 — A bill to amend titles 10 and 38, United States Code, to extend certain benefits to members of the National Guard who incur disabilities while performing State active duty; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H390 [1FE] H.R. 3633 — A bill to amend the Public Health Service Act to provide for a public awareness campaign with respect to human papillomavirus, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2143 [5AP], H3975 [12JN] H.R. 3635 — A bill to amend title XVIII of the Social Security Act to ensure fairness in Medicare hospital payments by establishing a floor for the area wage index applied with respect to certain hospitals; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1182 [13MR], H2253 [9AP], H2771 [30AP] H.R. 3638 — A bill to direct the Director of the Office of Management and Budget to require the disclosure of violations of Federal law with respect to human trafficking or alien smuggling, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Oversight and Accountability, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H1000 [6MR], H1034 [7MR], H1189 [15MR], H2143 [5AP], H2629 [23AP] H.R. 3639 — A bill to establish and expand child care programs for parents who work nontraditional hours, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H108 [11JA], H133 [12JA], H2136 [2AP], H3399 [21MY] H.R. 3646 — A bill to increase the availability and affordability of menstrual products for individuals with limited access, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on the Judiciary, Financial Services, Energy and Commerce, Transportation and Infrastructure, Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H544 [9FE], H738 [28FE], H2319 [11AP], H3485 [22MY], H3681 [7JN] H.R. 3647 — A bill to amend the FAA Reauthorization Act of 2018 to reauthorize aviation workforce development programs, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H2701 [29AP] H.R. 3649 — A bill to direct the Secretary of Veterans Affairs to establish a pilot program to furnish hyperbaric oxygen therapy to a veteran who has a traumatic brain injury or post-traumatic stress disorder; to the Committee on Veterans’ Affairs. Cosponsors added, H4115 [18JN] H.R. 3651 — A bill to amend titles 10 and 38, United States Code, to improve benefits and services for surviving spouses, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H366 [31JA], H693 [23FE], H738 [28FE], H774 [29FE], H2143 [5AP], H2319 [11AP], H3582 [3JN], H3975 [12JN] H.R. 3652 — A bill to address the rising trend of venue-shopping in Federal courts; to the Committee on the Judiciary. Cosponsors added, H3399 [21MY] H.R. 3654 — A bill to address transnational repression by foreign governments against private individuals, and for other purposes; to the Committee on House Administration, and in addition to the Committees on the Judiciary, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H148 [16JA], H189 [17JA], H738 [28FE], H1190 [15MR], H2121 [26MR], H2445 [16AP], H2503 [17AP], H2623 [20AP], H2701 [29AP] H.R. 3656 — A bill to amend the Act commonly known as the Wild Free-roaming Horses and Burros Act to prohibit certain uses of aircraft with respect to the management of wild free-roaming horses and burros, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H538 [7FE], H582 [13FE], H1094 [11MR], H2253 [9AP], H2771 [30AP], H3007 [10MY], H3485 [22MY], H3727 [11JN] H.R. 3658 — A bill to amend the Homeland Secretary Act of 2002 with respect to the Joint Task Force to Combat Opioid Trafficking; to the Committee on Homeland Security. Cosponsors added, H273 [29JA] H.R. 3659 — A bill to amend the Public Health Service Act to provide for a demonstration program to facilitate the clinical adoption of pregnancy intention screening initiatives by health care and social service providers; to the Committee on Energy and Commerce. Cosponsors added, H738 [28FE], H4115 [18JN] H.R. 3662 — A bill to amend the Internal Revenue Code of 1986 to provide for a refundable adoption tax credit; to the Committee on Ways and Means. Cosponsors added, H1236 [19MR], H3274 [15MY] H.R. 3667 — A bill to amend title II of the Social Security Act to provide for the reissuance of social security account numbers to young children in cases where confidentiality has been compromised; to the Committee on Ways and Means. Text, H139 [16JA] Rules suspended. Passed House amended, H229 [18JA] Message from the House, S201 [22JA] Referred to the Committee on Finance, S201 [22JA] H.R. 3670 — A bill to designate the POW/MIA Memorial and Museum in Jacksonville, Florida, as the National POW/MIA Memorial and Museum, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H4063 [13JN] H.R. 3674 — A bill to amend title XVIII of the Social Security Act to increase the nonfacility practice expense relative value units for specified services furnished under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1182 [13MR] H.R. 3676 — A bill to amend title 38, United States Code, to make permanent certain programs that assist homeless veterans and other veterans with special needs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H53 [10JA] H.R. 3680 — A bill to amend the Public Health Service Act to provide for a national outreach and education strategy and research to improve the behavioral and mental health of the Asian American, Native Hawaiian, and Pacific Islander population, while addressing stigma within such population against behavioral and mental health treatment; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA] H.R. 3682 — A bill to amend the Public Health Service Act to authorize certain grants (for youth suicide early intervention and prevention strategies) to be used for school personnel in elementary and secondary schools and students in secondary schools to receive student suicide awareness and prevention training, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H432 [5FE], H582 [13FE], H824 [5MR] H.R. 3684 — A bill to direct the Secretary of Defense to establish a grant program for using psychedelic substances to treat certain conditions, and for other purposes; to the Committee on Armed Services. Cosponsors added, H504 [6FE] H.R. 3686 — A bill to provide that it is unlawful to knowingly distribute private intimate visual depictions with reckless disregard for the individual’s lack of consent to the distribution, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1499 [22MR], H2629 [23AP], H2875 [6MY] H.R. 3690 — A bill to amend the Internal Revenue Code of 1986 to extend the publicly traded partnership ownership structure to energy power generation projects and transportation fuels, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H582 [13FE], H3000 [8MY] H.R. 3691 — A bill to amend title XVIII of the Social Security Act to revise payment for air ambulance services under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR] H.R. 3693 — A bill to require advance consultation with State and local officials and monthly reports to Congress regarding the resettlement, transportation, and relocation of aliens in the United States; to the Committee on the Judiciary. Cosponsors added, H3485 [22MY] H.R. 3698 — A bill to amend the Food and Nutrition Act of 2008 to expand the eligibility of disabled veterans to receive supplemental nutrition assistance program benefits; to the Committee on Agriculture. Cosponsors added, H366 [31JA], H1094 [11MR], H1297 [20MR], H2629 [23AP], H3656 [4JN] H.R. 3702 — A bill to amend the Internal Revenue Code of 1986 to allow a refundable tax credit against income tax for the purchase of qualified access technology for the blind; to the Committee on Ways and Means. Cosponsors added, H108 [11JA], H254 [25JA], H544 [9FE], H688 [20FE], H1058 [8MR], H2831 [1MY] H.R. 3713 — A bill to amend the Public Health Service Act to revise and extend projects relating to children and to provide access to school-based comprehensive mental health programs; to the Committee on Energy and Commerce. Cosponsors added, H108 [11JA], H317 [30JA], H432 [5FE], H681 [15FE], H1236 [19MR], H1499 [22MR], H2136 [2AP], H2143 [5AP], H2445 [16AP], H2629 [23AP], H3727 [11JN] H.R. 3714 — A bill to amend the Immigration and Nationality Act to extend honorary citizenship to otherwise qualified noncitizens who enlisted in the Philippines and died while serving on active duty with the United States Armed Forces during certain periods of hostilities, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2875 [6MY] H.R. 3720 — A bill to require the Secretary of Labor to award grants to eligible entities for the provision of transition assistance to members and former members of the Armed Forces who are separated, retired, or discharged from the Armed Forces, and spouses of such members, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE] H.R. 3721 — A bill to amend title 18, United States Code, and title 39, United States Code, to provide the United States Postal Service the authority to mail alcoholic beverages, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2143 [5AP], H2319 [11AP], H2636 [26AP] H.R. 3722 — A bill to require a pilot program on activities under the pre-separation transition process of members of the Armed Forces for a reduction in suicide among veterans, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported with amendment (H. Rept. 118–380, part 1), H579 [13FE] Rules suspended. Passed House amended, H2691 [29AP] Text, H2691 [29AP] Message from the House, S3077 [30AP] H.R. 3724 — A bill to amend the Higher Education Act of 1965 to prohibit recognized accrediting agencies and associations from requiring, encouraging, or coercing institutions of higher education to meet any political litmus test or violate any right protected by the Constitution as a condition of accreditation; to the Committee on Education and the Workforce. Cosponsors added, H1355 [21MR] Reported with amendment (H. Rept. 118–467), H2627 [23AP] H.R. 3725 — A bill to amend title XVIII of the Social Security Act to provide benefits under the Medicare program for first responders at the age of 57; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3000 [8MY], H3274 [15MY], H3358 [17MY] H.R. 3726 — A bill to direct the Secretary of Education to study student mental health at institutions of higher education and to issue guidance on compliance with the Americans with Disabilities Act of 1990 for mental health and substance use disorder policies of institutions of higher education, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1297 [20MR] H.R. 3727 — A bill to require the Director of the National Institutes of Health to carry out a study to add to the scientific knowledge on reducing teacher stress and increasing teacher retention and well-being, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1499 [22MR] H.R. 3728 — A bill to designate the facility of the United States Postal Service located at 25 Dorchester Avenue, Room 1, in Boston, Massachusetts, as the ‘‘Caroline Chang Post Office’’; to the Committee on Oversight and Accountability. Text, H262 [29JA] Rules suspended. Passed House, H358 [31JA] Message from the House, S342 [1FE] Referred to the Committee on Homeland Security and Governmental Affairs, S342 [1FE] H.R. 3729 — A bill to amend title II of the Social Security Act to credit individuals serving as caregivers of dependent relatives with deemed wages for up to five years of such service; to the Committee on Ways and Means. Cosponsors added, H3583 [3JN] H.R. 3730 — A bill to amend title XVIII of the Social Security Act to modernize provisions relating to rural health clinics under Medicare; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE], H738 [28FE], H1182 [13MR], H1355 [21MR], H2253 [9AP], H3399 [21MY], H3530 [24MY] H.R. 3734 — A bill to amend the Immigration and Nationality Act to provide for an H-2C nonimmigrant classification, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H824 [5MR] H.R. 3738 — A bill to amend title 38, United States Code, to establish in the Department of Veterans Affairs the Veterans Economic Opportunity and Transition Administration, and for other purposes; to the Committee on Veterans’ Affairs. Reported with amendment (H. Rept. 118–360), H270 [29JA] Text, H2685 [29AP] Rules suspended. Passed House amended, H2714 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Veterans’ Affairs, S3130 [1MY] H.R. 3747 — A bill to rename the Richard B. Russell National School Lunch Act, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1000 [6MR] H.R. 3748 — A bill to amend the Animal Health Protection Act to improve the prevention of the spread of animal diseases, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H4115 [18JN] H.R. 3749 — A bill to amend the Internal Revenue Code of 1986 to modify the treatment of certain rents received by real estate investment trusts from related parties; to the Committee on Ways and Means. Cosponsors added, H247 [22JA] H.R. 3752 — A bill to provide for civil monetary penalties for violations of mental health parity requirements; to the Committee on Education and the Workforce. Cosponsors added, H2938 [7MY] H.R. 3755 — A bill to amend the Agricultural Marketing Act of 1946 to exempt industrial hemp from certain requirements under the hemp production program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H273 [29JA], H390 [1FE], H2938 [7MY] H.R. 3759 — A bill to direct the Secretary of Transportation to establish a grant program to facilitate the installation, on bridges, of evidence-based suicide deterrents, including suicide prevention nets and barriers, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H242 [18JA], H366 [31JA], H1297 [20MR], H2136 [2AP], H2291 [10AP] H.R. 3768 — A bill to address maternity care shortages and promote optimal maternity outcomes by expanding educational opportunities for midwives, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3399 [21MY], H3727 [11JN] H.R. 3773 — A bill to amend the Higher Education Act of 1965 to prohibit institutions of higher education that authorize Anti-Semitic events on campus from participating in the student loan and grant programs under title IV of such Act; to the Committee on Education and the Workforce. Cosponsors added, H2636 [26AP], H2701 [29AP], H2771 [30AP] H.R. 3776 — A bill to authorize a new type of housing choice voucher to help achieve the goals of ending homelessness among families with children, increasing housing opportunities, and improving life outcomes of poor children; to the Committee on Financial Services. Cosponsors added, H317 [30JA], H774 [29FE], H1236 [19MR], H2130 [29MR], H2367 [12AP], H2522 [18AP], H3727 [11JN] H.R. 3777 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to provide assistance for common interest communities, condominiums, and housing cooperatives damaged by a major disaster, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H3727 [11JN] H.R. 3781 — A bill to amend title 40, United States Code, to direct the Administrator of General Services to incorporate practices and strategies to reduce bird fatality resulting from collisions with certain public buildings, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H317 [30JA], H1355 [21MR], H2121 [26MR], H3274 [15MY], H3583 [3JN] H.R. 3783 — A bill to protect public health and human safety by prohibiting the farming of mink for their fur, to compensate farmers as they transition out of the industry, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1149 [12MR], H1190 [15MR] H.R. 3785 — A bill to amend title 23, United States Code, to require that public employees perform construction inspection work for federally funded highway projects, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H538 [7FE], H1000 [6MR], H3656 [4JN], H3681 [7JN] H.R. 3787 — A bill to amend the Internal Revenue Code of 1986 to modify certain rules applicable to qualified small issue manufacturing bonds, to expand certain exceptions to the private activity bond rules for first-time farmers, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H1094 [11MR], H2875 [6MY] H.R. 3790 — A bill to amend title 38, United States Code, to extend increased dependency and indemnity compensation paid to surviving spouses of veterans who die from amyotrophic lateral sclerosis, regardless of how long the veterans had such disease prior to death; to the Committee on Veterans’ Affairs. Cosponsors added, H242 [18JA], H2253 [9AP], H3727 [11JN], H3975 [12JN], H4110 [14JN] H.R. 3792 — A bill to modify and extend certain authorities relating to cooperation between the United States and Israel, expand and strengthen the Abraham Accords, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H432 [5FE], H774 [29FE], H2253 [9AP] H.R. 3805 — A bill to amend title XIX of the Social Security Act to establish a demonstration project testing Whole Child Health Models, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H108 [11JA], H254 [25JA], H2636 [26AP] H.R. 3808 — A bill to amend the Afghan Allies Protection Act of 2009 to authorize additional special immigrant visas, to require a strategy for efficient processing, and to establish designated senior special immigrant visa coordinating officials, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H582 [13FE], H693 [23FE], H1182 [13MR], H2143 [5AP], H2319 [11AP], H2399 [15AP], H3675 [5JN] H.R. 3809 — A bill to include cybersecurity technical assistance in the national rural water and wastewater circuit rider program of Department of Agriculture; to the Committee on Agriculture. Cosponsors added, H1355 [21MR] H.R. 3811 — A bill to require the Secretary of Veterans Affairs to conduct a study on the quality of care difference between behavioral and mental health care provided by health care providers of the Department of Veterans Affairs compared to non-Department providers; to the Committee on Veterans’ Affairs. Cosponsors added, H739 [28FE], H2136 [2AP], H2253 [9AP] H.R. 3816 — A bill to amend title 38, United States Code, to ensure that veterans may attend pre-apprenticeship programs using certain educational assistance provided by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H681 [15FE], H3681 [7JN] H.R. 3817 — A bill to increase language access to behavioral health services at eligible health centers, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2629 [23AP], H3583 [3JN] H.R. 3821 — A bill to reauthorize the Firefighter Cancer Registry Act of 2018; to the Committee on Energy and Commerce. Text, H796 [5MR] Rules suspended. Passed House, H971 [6MR] Message from the House, S2277 [7MR] Referred to the Committee on Health, Education, Labor and Pensions, S2277 [7MR] H.R. 3824 — A bill to prevent the illegal sale of firearms, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H53 [10JA] H.R. 3826 — A bill to provide for the inclusion on the Vietnam Veterans Memorial Wall of the names of the lost crew members of the USS Frank E. Evans killed on June 3, 1969; to the Committee on Armed Services, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3681 [7JN] H.R. 3828 — A bill to designate the facility of the United States Postal Service located at 80 Prospect Street in Avon, New York, as the ‘‘Officer Anthony Mazurkiewicz Memorial Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H317 [30JA], H366 [31JA], H390 [1FE], H582 [13FE] H.R. 3836 — A bill to facilitate direct primary care arrangements under Medicaid; to the Committee on Energy and Commerce. Rules suspended. Passed House amended, H798 [5MR] Text, H798 [5MR] Message from the House, S2237 [6MR] Referred to the Committee on Finance, S2237 [6MR] H.R. 3838 — A bill to amend title III of the Public Health Service Act to reauthorize Federal support of States in their work to save and sustain the health of mothers during pregnancy, childbirth, and the postpartum period, to eliminate disparities in maternal health outcomes for pregnancy-related and pregnancy-associated deaths, to identify solutions to improve health care quality and health outcomes for mothers, and for other purposes; to the Committee on Energy and Commerce. Text, H793 [5MR] Rules suspended. Passed House amended, H806 [5MR] Message from the House, S2237 [6MR] Placed on the calendar, S2237 [6MR] H.R. 3842 — A bill to amend title XVIII of the Social Security Act to improve access to diabetes outpatient self-management training services, to require the Center for Medicare and Medicaid Innovation to test the provision of virtual diabetes outpatient self-management training services, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H1149 [12MR], H3274 [15MY] H.R. 3843 — A bill to amend title III of the Public Health Service Act to reauthorize grants to address dental workforce needs; to the Committee on Energy and Commerce. Text, H800 [5MR] Rules suspended. Passed House, H1021 [7MR] Message from the House, S2330 [8MR] Referred to the Committee on Health, Education, Labor, and Pensions, S2330 [8MR] H.R. 3845 — A bill to amend title 23, United States Code, to increase accessible transportation for individuals with disabilities; to the Committee on Transportation and Infrastructure. Cosponsors added, H432 [5FE] H.R. 3847 — A bill to improve nutrition assistance for people experiencing homelessness, and for other purposes; to the Committee on Agriculture. Cosponsors added, H148 [16JA], H273 [29JA], H3530 [24MY] H.R. 3850 — A bill to amend title V of the Public Health Service Act to ensure protections for lesbian, gay, bisexual, and transgender youth and their families; to the Committee on Energy and Commerce. Cosponsors added, H108 [11JA], H189 [17JA], H3205 [14MY], H3727 [11JN] H.R. 3851 — A bill to amend title XXVII of the Public Health Service Act to prohibit group health plans and health insurance issuers offering group or individual health insurance coverage from imposing cost-sharing requirements with respect to diagnostic and supplemental breast examinations; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H544 [9FE], H693 [23FE], H1000 [6MR], H4063 [13JN] H.R. 3852 — A bill to amend part E of title IV of the Social Security Act to address or assist in resolving the shortage of appropriate foster homes for children, to develop resources to keep sibling groups together, and to provide for a system of checks and balances to ensure a child’s ongoing safety and well-being, by providing for the placement of a foster child in cottage family homes and making a child so placed eligible for foster care maintenance payments; to the Committee on Ways and Means. Cosponsors added, H242 [18JA], H739 [28FE] H.R. 3853 — A bill to provide lasting protection for inventoried roadless areas within the National Forest System; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3485 [22MY] H.R. 3854 — A bill to amend the National Institute of Standards and Technology Act relating to the Hollings Manufacturing Extension Partnership to provide for enhanced representation on the Advisory Board, better assist United States-based small manufacturers and exporters, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H273 [29JA] H.R. 3855 — A bill to amend title 5, United States Code, to establish a National Digital Reserve Corps to help address the digital and cybersecurity needs of Executive agencies, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3399 [21MY] H.R. 3861 — A bill to amend the Internal Revenue Code of 1986 to modify the rules for postponing certain deadlines by reason of disaster; to the Committee on Ways and Means. Cosponsors added, H273 [29JA], H582 [13FE] H.R. 3865 — A bill to designate the facility of the United States Postal Service located at 101 South 8th Street in Lebanon, Pennsylvania, as the ‘‘Lieutenant William D. Lebo Post Office Building’’; to the Committee on Oversight and Accountability. Reported (no written report), S2718 [11AP] Rules suspended. Passed House, H261 [29JA] Text, H261 [29JA] Message from the House, S286 [30JA], S3130 [1MY] Referred to the Committee on Homeland Security and Governmental Affairs, S287 [30JA] Passed Senate, S2994 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Pr3865esented to the President (May 1, 2024), H2994 [8MY] Examined and signed in the House, H2825 [1MY] Examined and signed in the Senate, S3130 [1MY] Approved [Public Law 118–56] (signed May 7, 2024) H.R. 3869 — A bill to amend title 49, United States Code, with respect to restroom access for certain drivers, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H582 [13FE], H774 [29FE], H1236 [19MR], H2503 [17AP], H3358 [17MY], H3727 [11JN] H.R. 3873 — A bill to establish Ocean Innovation Clusters to strengthen the coastal communities and ocean economy of the United States through technological research and development, job training, and cross-sector partnerships, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Transportation and Infrastructure, Science, Space, and Technology, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H390 [1FE] H.R. 3874 — A bill to amend title 38, United States Code, to make certain improvements in the administration of the educational assistance programs of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H3681 [7JN] H.R. 3875 — A bill to amend title XVIII of the Social Security Act to expand the scope of practitioners eligible for payment for telehealth services under the Medicare program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H108 [11JA], H133 [12JA], H273 [29JA], H317 [30JA], H582 [13FE], H1094 [11MR], H2938 [7MY], H3000 [8MY], H3007 [10MY], H3583 [3JN] H.R. 3876 — A bill to amend title XVIII of the Social Security Act to provide for expanded coverage of services furnished by genetic counselors under part B of the Medicare program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H639 [14FE], H2253 [9AP], H2319 [11AP], H2445 [16AP], H3205 [14MY], H3530 [24MY] H.R. 3879 — A bill to establish a grant program for family community organizations that provide support for individuals struggling with substance use disorder and their families; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA] H.R. 3881 — A bill to amend the Electronic Fund Transfer Act to require the Board of Governors of the Federal Reserve system to prescribe regulations relating to network competition in credit card transactions, and for other purposes; to the Committee on Financial Services. Cosponsors added, H3681 [7JN] H.R. 3882 — A bill to amend the Tariff Act of 1930 to improve the administration of antidumping and countervailing duty laws, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H254 [25JA], H684 [16FE], H774 [29FE], H824 [5MR], H2136 [2AP], H2253 [9AP], H2319 [11AP], H2445 [16AP], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3399 [21MY], H4063 [13JN] H.R. 3887 — A bill to amend title III of the Public Health Service Act to reauthorize the program of payments to children’s hospitals that operate graduate medical education programs, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2130 [29MR], H3274 [15MY], H3526 [23MY], H3583 [3JN], H3681 [7JN] H.R. 3892 — A bill to amend title XIX of the Social Security Act to make permanent the State plan amendment option to provide medical assistance for certain individuals who are patients in certain institutions for mental diseases, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H189 [17JA] H.R. 3894 — A bill to amend the Animal Welfare Act to prohibit commercial greyhound racing, live lure training, and open field coursing, and for other purposes; to the Committee on Agriculture. Cosponsors added, H14 [9JA], H774 [29FE], H2445 [16AP], H3583 [3JN], H3681 [7JN], H4115 [18JN] H.R. 3899 — A bill to amend the Internal Revenue Code of 1986 to establish a refundable child tax credit with monthly advance payment; to the Committee on Ways and Means. Cosponsors added, H273 [29JA] H.R. 3902 — A bill to amend the Department of Agriculture Reorganization Act of 1994 to provide for a set-aside for socially disadvantaged farmers and ranchers for grants to support urban agriculture and innovative production, and for other purposes; to the Committee on Agriculture. Cosponsors added, H639 [14FE] H.R. 3904 — A bill to amend the Federal Crop Insurance Act to promote crop insurance support for beginning farmers and ranchers, and for other purposes; to the Committee on Agriculture. Cosponsors added, H693 [23FE], H3205 [14MY] H.R. 3909 — A bill to amend title 49, United States Code, to restrict an air carrier from operating certain aircraft in all-cargo air transportation without meeting certain requirements for intrusion resistance, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H3274 [15MY] H.R. 3910 — A bill to amend the Public Health Service Act to give a preference, with respect to project grants for preventive health services, for States that allow all trained individuals to carry and administer epinephrine, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H681 [15FE], H1000 [6MR], H1236 [19MR], H2253 [9AP], H2701 [29AP] H.R. 3913 — A bill to amend title 18, United States Code, to penalize false communications to cause an emergency response, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H108 [11JA], H148 [16JA] H.R. 3916 — A bill to amend the Public Health Service Act to reauthorize and improve the National Breast and Cervical Cancer Early Detection Program for fiscal years 2024 through 2028, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H108 [11JA], H366 [31JA], H639 [14FE], H681 [15FE], H739 [28FE], H2503 [17AP], H2938 [7MY], H3274 [15MY], H3526 [23MY] Reported with amendment (H. Rept. 118–525), H3530 [24MY] H.R. 3917 — A bill to require the Secretary of Commerce to establish the National Manufacturing Advisory Council within the Department of Commerce, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA] H.R. 3922 — A bill to authorize the Secretary of Agriculture to carry out an initiative to develop, expand, and improve rural childcare, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2130 [29MR] H.R. 3923 — A bill to establish State-Federal partnerships to provide students the opportunity to attain higher education at in-State public institutions of higher education without debt, to provide Federal Pell Grant eligibility to DREAMer students, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H390 [1FE] H.R. 3925 — A bill to direct the National Oceanic and Atmospheric Administration to establish a grant program to fund youth fishing projects; to the Committee on Natural Resources. Cosponsors added, H53 [10JA], H2253 [9AP], H3656 [4JN] H.R. 3927 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish the Office of Food Safety Reassessment, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA] H.R. 3933 — A bill to amend title 10, United States Code, to authorize representatives of veterans service organizations to promote certain benefits available to veterans in the course of preseparation counseling under the Transition Assistance program of the Department of Defense, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H538 [7FE], H639 [14FE], H774 [29FE], H1000 [6MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1182 [13MR], H1236 [19MR], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2938 [7MY], H3205 [14MY], H3399 [21MY], H3583 [3JN], H3727 [11JN] H.R. 3934 — A bill to designate residents of the Xinjiang Uyghur Autonomous Region as Priority 2 refugees of special humanitarian concern, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE] H.R. 3935 — A bill to amend title 49, United States Code, to reauthorize and improve the Federal Aviation Administration and other civil aviation programs, and for other purposes; to the Committee on Transportation and Infrastructure. Motion to proceed considered, S2928 [19AP], S2942 [20AP], S2943 [23AP], S3107 [1MY], S3295 [2MY] Amendments, S3082, S3083 [30AP], S3140, S3141, S3254, S3255, S3256, S3261, S3262, S3263, S3272, S3274, S3275, S3281, S3286, S3287, S3288, S3289, S3293 [1MY], S3324, S3326, S3332, S3333, S3339, S3340, S3341, S3344, S3345, S3348, S3351, S3352, S3353, S3354, S3355, S3360, S3361, S3362, S3363, S3365, S3366 [2MY], S3381, S3495, S3496, S3507, S3508, S3509, S3510, S3513, S3521, S3537, S3538, S3550, S3551, S3558, S3559, S3560 [7MY], S3601, S3602, S3606, S3607, S3615, S3620, S3624, S3625 [8MY], S3632, S3633, S3661, S3662, S3664 [9MY] Senate invoked cloture on motion to close debate on motion to proceed, S3111 [1MY] Motion to proceed agreed to, S3305 [2MY] Debated, S3381 [7MY], S3567 [8MY], S3629 [9MY] Motion to table motion to commit rejected, S3576 [8MY] Passed Senate amended, S3645 [9MY] Message from the Senate, H3001 [10MY] Debated, H3050 [14MY] House consideration of Senate amendment, H3050 [14MY] Amendments, H3050 [14MY] Rules suspended. House agreed to Senate amendment, H3229 [15MY] Message from the House, S3751 [16MY] Message from the House (received May 16, 2024, during adjournment), S3778 [20MY] Examined and signed in the House, H3326 [16MY] Examined and signed in the Senate (May 16, 2024, during adjournment), S3778 [20MY] Presented to the President (May 16, 2024), H3395 [21MY] Approved [Public Law 118–63] (signed May 16, 2024) H.R. 3940 — A bill to amend the Internal Revenue Code of 1986 to establish a tax credit for neighborhood revitalization, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H108 [11JA], H242 [18JA], H254 [25JA], H544 [9FE], H688 [20FE], H1058 [8MR], H1236 [19MR], H2831 [1MY], H3399 [21MY], H3485 [22MY], H4063 [13JN] H.R. 3944 — A bill to designate the facility of the United States Postal Service located at 120 West Church Street in Mount Vernon, Georgia, as the ‘‘Second Lieutenant Patrick Palmer Calhoun Post Office’’; to the Committee on Oversight and Accountability. Reported (no written report), S421 [6FE] Passed Senate, S2993 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Message from the House, S3130 [1MY] Examined and signed in the House, H2825 [1MY] Examined and signed in the Senate, S3130 [1MY] Presented to the President (May 1, 2024), H2994 [8MY] Approved [Public Law 118–57] (signed May 7, 2024) H.R. 3946 — A bill to amend the Public Health Service Act to reauthorize and extend the Fetal Alcohol Spectrum Disorders Prevention and Services program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H317 [30JA], H1000 [6MR], H2130 [29MR], H2253 [9AP] H.R. 3947 — A bill to designate the facility of the United States Postal Service located at 859 North State Road 21 in Melrose, Florida, as the ‘‘Pamela Jane Rock Post Office Building’’; to the Committee on Oversight and Accountability. Reported (no written report), S2718 [11AP] Rules suspended. Passed House, H262 [29JA] Text, H262 [29JA] Message from the House, S286 [30JA], S3130 [1MY] Referred to the Committee on Homeland Security and Governmental Affairs, S287 [30JA] Passed Senate, S2994 [23AP] Message from the Senate (received April 25, 2024), H2631 [26AP] Examined and signed in the House, H2825 [1MY] Examined and signed in the Senate, S3130 [1MY] Presented to the President (May 1, 2024), H2994 [8MY] Approved [Public Law 118–58] (signed May 7, 2024) H.R. 3949 — A bill to amend the Communications Act of 1934 to provide for additional prohibitions and enhanced penalties for providing or possessing wireless communications devices in detention facilities, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H133 [12JA], H273 [29JA], H1236 [19MR], H1297 [20MR], H2291 [10AP], H3526 [23MY], H3583 [3JN] H.R. 3950 — A bill to require sellers of event tickets to disclose comprehensive information to consumers about ticket prices and related fees, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H133 [12JA], H774 [29FE], H1190 [15MR], H2130 [29MR], H2143 [5AP] Reported with amendment (H. Rept. 118–496), H3003 [10MY] Text, H3043 [14MY] Rules suspended. Passed House amended, H3258 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on Commerce, Science, and Transportation, S3752 [16MY] H.R. 3951 — A bill to establish in the Department of Agriculture an Office of Aquaculture, and for other purposes; to the Committee on Agriculture. Cosponsors added, H1034 [7MR], H1236 [19MR], H2291 [10AP], H2629 [23AP] H.R. 3955 — A bill to establish the Increasing Land, Capital, and Market Access Program within the Farm Service Agency Office of Outreach and Education; to the Committee on Agriculture. Cosponsors added, H681 [15FE], H2143 [5AP] H.R. 3957 — A bill to authorize the Secretary of Agriculture to make grants to modify and upgrade structures to serve as interim and permanent housing to accommodate unhoused individuals with pets, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H273 [29JA], H432 [5FE], H681 [15FE] H.R. 3962 — A bill to establish a Federal Advisory Council to Support Victims of Gun Violence; to the Committee on the Judiciary. Cosponsors added, H108 [11JA], H4110 [14JN] H.R. 3968 — A bill to amend the Immigration and Nationality Act to require a DNA test to determine the familial relationship between an alien and an accompanying minor, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 3970 — A bill to improve Federal populations surveys by requiring the collection of voluntary, self-disclosed information on sexual orientation, gender identity, and variations in sex characteristics in certain surveys, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H53 [10JA], H108 [11JA], H133 [12JA], H242 [18JA], H582 [13FE], H1236 [19MR], H2503 [17AP], H3583 [3JN] H.R. 3977 — A bill to amend the Northwestern New Mexico Rural Water Projects Act to make improvements to that Act, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H2291 [10AP] H.R. 3982 — A bill to amend section 45Q of the Internal Revenue Code of 1986 to establish the mine methane capture incentive credit; to the Committee on Ways and Means. Cosponsors added, H189 [17JA], H2875 [6MY] H.R. 3990 — A bill to amend the Forest and Rangeland Renewable Resources Research Act of 1978 to modify the forest inventory and analysis program; to the Committee on Agriculture. Cosponsors added, H189 [17JA], H3007 [10MY] H.R. 3998 — A bill to establish a program to monitor and gather data on incidents of illegal passing of stopped school buses, develop a national public safety messaging campaign, training materials, and model legislation to reduce such incidents, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H1034 [7MR], H1149 [12MR], H2629 [23AP], H3526 [23MY] H.R. 4002 — A bill to require the Director of the Office of Science and Technology Policy to develop a consistent set of policy guidelines for Federal research agencies to address financial instability of graduate researchers and postdoctoral researchers, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H14 [9JA], H254 [25JA], H538 [7FE], H582 [13FE], H2559 [19AP] H.R. 4006 — A bill to amend the Communications Act of 1934 to prohibit the application of certain private land use restrictions to amateur station antennas, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H148 [16JA], H242 [18JA], H3205 [14MY] H.R. 4007 — A bill to ensure references to opioid overdose reversal agents in grant programs of the Department of Health and Human Services are not limited to naloxone; to the Committee on Energy and Commerce. Cosponsors added, H2559 [19AP] H.R. 4010 — A bill to require $20 notes to include a portrait of Harriet Tubman, and for other purposes; to the Committee on Financial Services. Cosponsors added, H53 [10JA], H582 [13FE], H639 [14FE] H.R. 4013 — A bill to establish a regulatory system for sustainable offshore aquaculture in the United States exclusive economic zone, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY] H.R. 4016 — A bill to amend title 38, United States Code, to improve the repayment by the Secretary of Veterans Affairs of benefits misused by a fiduciary; to the Committee on Veterans’ Affairs. Reported (H. Rept. 118–457), H2366 [12AP] Text, H2695 [29AP] Rules suspended. Passed House, H2715 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Veterans’ Affairs, S3130 [1MY] H.R. 4018 — A bill to amend the Healthy Forests Restoration Act of 2003 to reauthorize and improve the Water Source Protection Program, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY] H.R. 4020 — A bill to amend the Fair Labor Standards Act of 1938 to prohibit employment of children in tobacco-related agriculture by deeming such employment as oppressive child labor; to the Committee on Education and the Workforce. Cosponsors added, H2938 [7MY], H3583 [3JN], H4110 [14JN] H.R. 4021 — A bill to amend title 49, United States Code, to ensure that authorizations issued by the Secretary of Transportation to foreign air carriers do not undermine labor standards, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H254 [25JA], H1190 [15MR], H3485 [22MY] H.R. 4024 — A bill to amend the Clean Air Act to provide for the establishment of standards to limit the carbon intensity of the fuel used by certain vessels, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H639 [14FE] H.R. 4030 — A bill to amend the Outer Continental Shelf Lands Act to prohibit oil and gas leasing in certain areas of the Outer Continental Shelf; to the Committee on Natural Resources. Cosponsors added, H2121 [26MR] H.R. 4031 — A bill to prohibit drilling in the Arctic Ocean; to the Committee on Natural Resources. Cosponsors added, H739 [28FE] H.R. 4034 — A bill to amend title XVIII of the Social Security Act to provide coverage for wigs as durable medical equipment under the Medicare program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE], H3330 [16MY] H.R. 4035 — A bill to require the Secretary of the Treasury to harmonize the effective dates of all rules required under the Corporate Transparency Act, and for other purposes; to the Committee on Financial Services. Cosponsors added, H432 [5FE], H504 [6FE], H1236 [19MR], H4063 [13JN] H.R. 4039 — A bill to prohibit the use of funds supporting any activities within the Xinjiang Uyghur Autonomous Region of the People’s Republic of China; to the Committee on Foreign Affairs. Cosponsors added, H582 [13FE] Rules suspended. Passed House amended, H554 [13FE] Text, H554 [13FE] Message from the House, S983 [26FE] Referred to the Committee on Foreign Relations, S983 [26FE] H.R. 4040 — A bill to require the Administrator of the Environmental Protection Agency to carry out certain activities to improve recycling and composting programs in the United States, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H1149 [12MR], H2319 [11AP], H2875 [6MY], H3330 [16MY], H3727 [11JN] H.R. 4041 — A bill to amend the Lobbying Disclosure Act of 1995 to require certain disclosures by registrants regarding exemptions under the Foreign Agents Registration Act of 1938, as amended; to the Committee on the Judiciary. Cosponsors added, H242 [18JA] H.R. 4047 — A bill to amend title 38, United States Code, to increase the amount paid by the Secretary of Veterans Affairs to veterans for improvements and structural alterations furnished as part of home health services; to the Committee on Veterans’ Affairs. Cosponsors added, H108 [11JA], H1190 [15MR] H.R. 4048 — A bill to authorize the Secretary of Homeland Security to adjust the status of certain aliens who are nationals of Venezuela to that of aliens lawfully admitted for permanent residence, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2143 [5AP], H2367 [12AP], H3399 [21MY] H.R. 4050 — A bill to protect human rights and enhance opportunities for LGBTQI people around the world, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H189 [17JA], H582 [13FE], H1058 [8MR], H1236 [19MR], H2136 [2AP], H2938 [7MY] H.R. 4051 — A bill to direct the Secretary of Commerce to establish a task force regarding shark depredation, and for other purposes; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–368), H314 [30JA] Rules suspended. Passed House amended, H400 [5FE] Text, H400 [5FE] Message from the House, S420 [6FE] Referred to the Committee on Commerce, Science, and Transportation, S421 [6FE] H.R. 4052 — A bill to facilitate efficient investments and financing of infrastructure projects and new job creation through the establishment of a National Infrastructure Bank, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Transportation and Infrastructure, Financial Services, Education and the Workforce, Natural Resources, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H189 [17JA], H254 [25JA], H693 [23FE], H774 [29FE], H1236 [19MR], H1499 [22MR], H2319 [11AP], H2559 [19AP], H3000 [8MY], H3275 [15MY], H4063 [13JN] H.R. 4054 — A bill to amend the SUPPORT for Patients and Communities Act to reauthorize grants to improve trauma support services and mental health care for children and youth in educational settings; to the Committee on Education and the Workforce. Cosponsors added, H1094 [11MR] H.R. 4059 — A bill to include phosphate and potash on the final list of critical minerals of the Department of the Interior; to the Committee on Natural Resources. Cosponsors added, H189 [17JA], H317 [30JA], H2253 [9AP], H4063 [13JN] H.R. 4064 — A bill to require that certain aspects of bridge projects be carried out by certified contractors, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H3975 [12JN] H.R. 4065 — A bill to obtain and direct the placement in the Capitol or on the Capitol Grounds of a statue to honor American humanitarian and star athlete Roberto Clemente of Puerto Rico; to the Committee on House Administration. Cosponsors added, H2701 [29AP] H.R. 4068 — A bill to prohibit the use of M-44 devices, commonly known as ‘‘cyanide bombs’’, on public land, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H2938 [7MY] H.R. 4069 — A bill to increase observations, understanding, and forecasting of coastal flooding and storm surge events, to address weather observation gaps in highly vulnerable areas, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H53 [10JA] H.R. 4070 — A bill to amend the Internal Revenue Code of 1986 to provide for the exclusion from gross income of amounts received from State-based catastrophe loss mitigation programs; to the Committee on Ways and Means. Cosponsors added, H1236 [19MR], H2367 [12AP], H2636 [26AP], H3526 [23MY] H.R. 4073 — A bill to amend the Harmonized Tariff Schedule of the United States to provide a uniform 8-digit subheading number for all whiskies; to the Committee on Ways and Means. Cosponsors added, H2559 [19AP] H.R. 4076 — A bill to authorize funding for a bilateral cooperative program with Israel for the development of health technologies; to the Committee on Energy and Commerce. Cosponsors added, H2130 [29MR] H.R. 4089 — A bill to amend the Public Health Service Act to reauthorize grants for first responder training; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H2559 [19AP] H.R. 4092 — A bill to amend the Public Health Service Act to reauthorize support for residential treatment programs for pregnant and postpartum women; to the Committee on Energy and Commerce. Cosponsors added, H2938 [7MY] H.R. 4097 — A bill to amend the Public Health Service Act to reauthorize mental and behavioral health education and training grants; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA] H.R. 4101 — A bill to amend the Public Health Service Act to reauthorize a National Peer-Run Training and Technical Assistance Center for Addiction Recovery Support; to the Committee on Energy and Commerce. Cosponsors added, H2253 [9AP] H.R. 4103 — A bill to amend the Food and Nutrition Act of 2008 to make permanent the moratorium on SNAP benefit transaction fees, and other purposes; to the Committee on Agriculture. Cosponsors added, H254 [25JA] H.R. 4104 — A bill to amend title XVIII of the Social Security Act to clarify congressional intent and preserve patient access to home infusion therapy under the Medicare program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE], H739 [28FE], H3727 [11JN] H.R. 4109 — A bill to amend title 36, United States Code, to designate the Honor and Remember Flag created by Honor and Remember, Inc., as an official symbol to recognize and honor members of the Armed Forces who died in the line of duty, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H.R. 4111 — A bill to provide block grants to assign armed law enforcement officers to elementary and secondary schools; to the Committee on the Judiciary, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR], H3583 [3JN] H.R. 4115 — A bill to amend title XVIII of the Social Security Act to apply prescription drug inflation rebates to drugs furnished in the commercial market and to change the base year for rebate calculations; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1236 [19MR] H.R. 4117 — A bill to amend the Higher Education Act of 1965 to ensure College for All; to the Committee on Education and the Workforce, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR] H.R. 4118 — A bill to include financial literacy education as a graduation requirement in high schools operated by the Department of Defense Education Activity; to the Committee on Armed Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR], H1297 [20MR], H1355 [21MR], H2130 [29MR] H.R. 4121 — A bill to protect an individual’s ability to access contraceptives and to engage in contraception and to protect a health care provider’s ability to provide contraceptives, contraception, and information related to contraception; to the Committee on Energy and Commerce. Cosponsors added, H824 [5MR], H2367 [12AP], H2522 [18AP], H2636 [26AP], H2701 [29AP], H2771 [30AP], H2831 [1MY], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3275 [15MY], H3330 [16MY], H3358 [17MY], H3485 [22MY], H3727 [11JN], H4063 [13JN] H.R. 4122 — A bill to award posthumously a Congressional Gold Medal to Henrietta Lacks, in recognition of her immortal cells which have made invaluable contributions to global health, scientific research, our quality of life, and patients’ rights; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE], H3399 [21MY] H.R. 4123 — A bill to provide for parental notification and intervention in the case of an unemancipated minor seeking an abortion; to the Committee on the Judiciary. Cosponsors added, H53 [10JA] H.R. 4125 — A bill to amend the Agricultural Act of 2014 with respect to the dairy margin coverage program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H273 [29JA], H366 [31JA], H2319 [11AP] H.R. 4126 — A bill to amend title 49, United States Code, with respect to current and future electric power requirements of airports, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H2701 [29AP] H.R. 4132 — A bill to provide for the imposition of sanctions with respect to forced organ harvesting within the People’s Republic of China, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE] H.R. 4137 — A bill to require certain flags of the United States to be made in the United States, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2831 [1MY], H3399 [21MY], H4110 [14JN] H.R. 4138 — A bill to require the Director of the Bureau of Prisons to be appointed by and with the advice and consent of the Senate; to the Committee on the Judiciary. Cosponsors added, H189 [17JA], H582 [13FE], H739 [28FE], H1190 [15MR], H2253 [9AP], H2701 [29AP] H.R. 4143 — A bill to amend the National Construction Safety Team Act to enable the National Institute of Standards and Technology to investigate structures other than buildings to inform the development of engineering standards, best practices, and building codes related to such structures, and for other purposes; to the Committee on Science, Space, and Technology. Text, H2922 [7MY] Rules suspended. Passed House amended, H2986 [8MY] Message from the House, S3650 [9MY] Referred to the Committee on Commerce, Science, and Transportation, S3650 [9MY] H.R. 4148 — A bill to amend the Tariff Act of 1930 relating to de minimus treatment under that Act; to the Committee on Ways and Means. Cosponsors added, H254 [25JA], H639 [14FE], H1034 [7MR], H1236 [19MR], H2121 [26MR], H2368 [12AP], H2875 [6MY], H3000 [8MY], H3681 [7JN] H.R. 4149 — A bill to amend the Food, Conservation, and Energy Act of 2008 to provide funding for the Gus Schumacher Nutrition Incentive Program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2636 [26AP], H3727 [11JN] H.R. 4150 — A bill to improve the provision of health care furnished by the Department of Veterans Affairs for veterans diagnosed with diabetes and heart disease, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H504 [6FE] H.R. 4154 — A bill to amend the Food and Nutrition Act of 2008 to close the nominal benefits loophole; to the Committee on Agriculture. Cosponsors added, H3330 [16MY], H3399 [21MY] H.R. 4157 — A bill to require the Secretary of Veterans Affairs to prepare an annual report on suicide prevention, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H14 [9JA], H681 [15FE], H824 [5MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1236 [19MR], H2291 [10AP], H2522 [18AP], H2701 [29AP], H2875 [6MY], H3000 [8MY], H3675 [5JN], H4063 [13JN] H.R. 4166 — A bill to authorize contributions to the United Nations Population Fund, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H2503 [17AP] H.R. 4167 — A bill to prohibit the Secretary of Energy from changing energy conservation standards for distribution transformers for a certain period, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H739 [28FE], H824 [5MR], H1190 [15MR], H1297 [20MR] Reported (H. Rept. 118–431), H2119 [26MR] H.R. 4170 — A bill to amend the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 to provide certain benefits to noncitizens, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Education and the Workforce, Energy and Commerce, the Judiciary, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H2130 [29MR], H3583 [3JN], H3727 [11JN] H.R. 4172 — A bill to establish a United States Commission on Hate Crimes to study and make recommendations on the prevention of the commission of hate crimes, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H108 [11JA], H2253 [9AP], H3205 [14MY] H.R. 4173 — A bill to amend the Agricultural Research, Extension, and Education Reform Act of 1998 to direct the Secretary of Agriculture to establish a specialty crop mechanization and automation initiative, and for other purposes; to the Committee on Agriculture. Cosponsors added, H273 [29JA], H697 [26FE], H774 [29FE], H1149 [12MR] H.R. 4174 — A bill to authorize the Secretary of Education to carry out a program to increase access to prekindergarten through grade 12 computer science education; to the Committee on Education and the Workforce. Cosponsors added, H824 [5MR], H2130 [29MR] H.R. 4175 — A bill to authorize the Secretary of State to provide additional assistance to Ukraine using assets confiscated from the Central Bank of the Russian Federation and other sovereign assets of the Russian Federation, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Rules, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H148 [16JA], H189 [17JA], H242 [18JA], H432 [5FE], H504 [6FE], H582 [13FE], H639 [14FE], H688 [20FE], H774 [29FE], H1000 [6MR], H1034 [7MR], H1190 [15MR], H1297 [20MR], H1355 [21MR], H2253 [9AP], H2291 [10AP], H2399 [15AP], H2445 [16AP], H2522 [18AP], H2559 [19AP] H.R. 4177 — A bill to amend the Securities Exchange Act of 1934 to require the submission by issuers of data relating to diversity, and for other purposes; to the Committee on Financial Services. Cosponsors added, H432 [5FE] H.R. 4178 — A bill to reestablish the Office of Noise Abatement and Control in the Environmental Protection Agency, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H390 [1FE], H538 [7FE], H2368 [12AP], H2701 [29AP] H.R. 4184 — A bill to repeal the Protection of Lawful Commerce in Arms Act, and provide for the discoverability and admissibility of gun trace information in civil proceedings; to the Committee on the Judiciary. Cosponsors added, H544 [9FE], H739 [28FE], H1034 [7MR], H1149 [12MR], H1297 [20MR], H2136 [2AP], H2143 [5AP], H2253 [9AP], H2291 [10AP], H2445 [16AP], H2636 [26AP], H2938 [7MY], H3000 [8MY], H3007 [10MY], H3205 [14MY], H3399 [21MY], H3530 [24MY], H3583 [3JN], H3656 [4JN], H4110 [14JN] H.R. 4185 — A bill to amend the Emergency Food Assistance Act of 1983 to provide additional agricultural products for distribution by emergency feeding organizations, and for other purposes; to the Committee on Agriculture. Cosponsors added, H1094 [11MR], H3358 [17MY] H.R. 4188 — A bill to amend title 40, United States Code, to modify certain requirements for Regional Commissions, to reauthorize the Northern Border Regional Commission, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR] H.R. 4189 — A bill to amend title XVIII of the Social Security Act to expand access to telehealth services, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H681 [15FE], H774 [29FE], H1000 [6MR], H1094 [11MR], H1236 [19MR], H2291 [10AP], H2445 [16AP], H2701 [29AP], H3000 [8MY], H3330 [16MY], H3583 [3JN] H.R. 4190 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to repay the estates of deceased beneficiaries for certain benefits paid by the Secretary and misused by fiduciaries of such beneficiaries; to the Committee on Veterans’ Affairs. Cosponsors added, H2319 [11AP] H.R. 4195 — A bill to amend title XXVII of the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to allow parental choice in the selection of primary health insurance coverage or primary coverage under a group health plan for certain dependent children; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE] H.R. 4198 — A bill to amend section 604(c) of the Fair Credit Reporting Act to address the treatment of pre-screening report requests, and for other purposes; to the Committee on Financial Services. Cosponsors added, H366 [31JA] H.R. 4202 — A bill to amend title 18, United States Code, to expand to all firearms the requirement that Federal firearms licensees report sales of 2 or more handguns to the same unlicensed person within 5 consecutive business days; to the Committee on the Judiciary. Cosponsors added, H273 [29JA], H1236 [19MR], H2831 [1MY] H.R. 4206 — A bill to amend the Financial Stability Act of 2010 to require covered financial institutions to include elements of accumulated other comprehensive income when calculating capital for purposes of meeting capital requirements, and for other purposes; to the Committee on Financial Services. Cosponsors added, H2368 [12AP] H.R. 4217 — A bill to control the export of electronic waste in order to ensure that such waste does not become the source of counterfeit goods that may reenter military and civilian electronics supply chains in the United States, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H639 [14FE], H1236 [19MR], H2121 [26MR], H4063 [13JN] H.R. 4218 — A bill to amend the National Trails System Act to provide for a study of the Puerto Rico National Scenic Trail; to the Committee on Natural Resources. Cosponsors added, H2559 [19AP] H.R. 4219 — A bill to establish the Southwestern Power Administration Fund, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3275 [15MY] H.R. 4220 — A bill to amend title 10, United States Code, to eliminate certain charges under the TRICARE dental program for members of the Selected Reserve of the Ready Reserve, and for other purposes; to the Committee on Armed Services. Cosponsors added, H2701 [29AP], H3681 [7JN], H3975 [12JN] H.R. 4221 — A bill to amend title 10, United States Code, to eliminate certain healthcare charges for members of the Selected Reserve eligible for TRICARE Reserve Select, and for other purposes; to the Committee on Armed Services. Cosponsors added, H273 [29JA], H1190 [15MR], H1297 [20MR], H2121 [26MR], H2319 [11AP], H2701 [29AP], H3975 [12JN] H.R. 4224 — A bill to authorize the Federal Communications Commission to enforce its own forfeiture penalties with respect to violations of restrictions on the use of telephone equipment; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H53 [10JA], H148 [16JA], H504 [6FE] H.R. 4231 — A bill to provide downpayment assistance to first-generation homebuyers to address multigenerational inequities in access to homeownership and to narrow and ultimately close the racial homeownership gap in the United States, and for other purposes; to the Committee on Financial Services. Cosponsors added, H538 [7FE], H2368 [12AP] H.R. 4232 — A bill to provide a path to end homelessness in the United States, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H538 [7FE], H2368 [12AP] H.R. 4233 — A bill to facilitate the development of fair and affordable housing, decrease housing costs, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H538 [7FE], H681 [15FE], H2368 [12AP] H.R. 4235 — A bill to direct the Secretary of Agriculture and the Secretary of the Interior to establish a wildfire technology testbed pilot program, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3727 [11JN] H.R. 4238 — A bill to amend the Immigration and Nationality Act to increase penalties for individuals who illegally reenter the United States after being removed, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H3727 [11JN] H.R. 4241 — A bill to amend the Horse Protection Act, to prohibit the transportation of horses in interstate transportation in a motor vehicle containing 2 or more levels stacked on top of one another, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H693 [23FE], H3583 [3JN] H.R. 4249 — A bill to amend title 38, United States Code, to furnish hospital care and medical services to veterans and dependents who were stationed at military installations at which the veterans and dependents were exposed to perfluorooctanoic acid or other per- and polyfluoroalkyl substances, to provide for a presumption of service connection for certain veterans who were stationed at military installations at which the veterans were exposed to such substances, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H688 [20FE], H1236 [19MR], H1297 [20MR], H1499 [22MR], H2629 [23AP] H.R. 4250 — A bill to maintain the free flow of information to the public by establishing appropriate limits on the federally compelled disclosure of information obtained as part of engaging in journalism, and for other purposes; to the Committee on the Judiciary. Text, H143 [16JA] Rules suspended. Passed House, H229 [18JA] Message from the House, S201 [22JA] Referred to the Committee on the Judiciary, S201 [22JA] H.R. 4260 — A bill to amend title II of the Social Security Act to provide an equitable Social Security formula for individuals with noncovered employment and to provide relief for individuals currently affected by the Windfall Elimination Provision; to the Committee on Ways and Means. Cosponsors added, H2253 [9AP] H.R. 4261 — A bill to amend titles XVIII and XIX of the Social Security Act to provide for coverage of peripheral artery disease screening tests furnished to at-risk beneficiaries under the Medicare and Medicaid programs without the imposition of cost-sharing requirements, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H739 [28FE], H824 [5MR], H2143 [5AP], H2319 [11AP], H2368 [12AP] H.R. 4263 — A bill to amend the Federal Food, Drug, and Cosmetic Act to require the label of a drug intended for human use to identify each ingredient in such drug that is, or is derived directly or indirectly from, a major food allergen or a gluten-containing grain, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H639 [14FE], H1000 [6MR], H1297 [20MR], H3583 [3JN], H4063 [13JN] H.R. 4268 — A bill to authorize grants to eligible entities to pay for travel-related expenses and logistical support for individuals with respect to accessing abortion services, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H774 [29FE], H2291 [10AP], H2445 [16AP] H.R. 4273 — A bill to authorize the Director of the National Museum of American History of the Smithsonian Institution to support LGBTQI+ history and women’s history education programs, and for other purposes; to the Committee on House Administration. Cosponsors added, H189 [17JA], H254 [25JA], H693 [23FE], H739 [28FE], H1297 [20MR], H3681 [7JN], H4115 [18JN] H.R. 4274 — A bill to require the Secretary of Health and Human Services to improve the detection, prevention, and treatment of mental health issues among public safety officers, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE], H739 [28FE], H3205 [14MY], H3975 [12JN] H.R. 4275 — A bill to amend the Public Health Service Act to ensure the consensual donation and respectful disposition of human bodies and human body parts donated or transferred for education, research, or the advancement of medical, dental, or mortuary science and not for use in human transplantation, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H133 [12JA], H582 [13FE], H3007 [10MY], H3485 [22MY] H.R. 4276 — A bill to reauthorize Trade Adjustment Assistance programs, extend and reform the Generalized System of Preferences, amend the Harmonized Tariff Schedule of the United States to modify certain rates of duty temporarily, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H3681 [7JN] H.R. 4277 — A bill to direct the Administrator of the Environmental Protection Agency to take certain actions related to pesticides that may affect pollinators, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H824 [5MR], H2253 [9AP], H2875 [6MY], H3275 [15MY] H.R. 4278 — A bill to amend title 38, United States Code, to modify personnel action procedures with respect to employees of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H697 [26FE], H1000 [6MR] Reported with amendment (H. Rept. 118–425), H1187 [15MR] H.R. 4282 — A bill to protect individuals with disabilities who are parents, legal guardians, relatives, other caregivers, foster or adoptive parents, or individuals seeking to become foster or adoptive parents from discrimination in the child welfare system; to the Committee on Ways and Means. Cosponsors added, H697 [26FE] H.R. 4283 — A bill to amend the Internal Revenue Code of 1986 to increase certain taxes related to firearms, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on the Judiciary, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE] H.R. 4285 — A bill to eliminate employment-based visa caps on abused, abandoned, and neglected children eligible for humanitarian status, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H504 [6FE], H739 [28FE], H824 [5MR], H2503 [17AP], H3358 [17MY], H3399 [21MY] H.R. 4286 — A bill to amend title XIX of the Social Security Act to require coverage under State plans under the Medicaid program for annual lung cancer screening with no cost sharing for individuals for whom screening is recommended by U.S. Preventive Services Task Force guidelines, to expand coverage under Medicaid of counseling and pharmacotherapy for cessation of tobacco use, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA] H.R. 4289 — A bill to amend title 18, United States Code, to prohibit short-term, Buy Now, Pay Later loans for the purchase of semiautomatic assault weapons; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H242 [18JA], H3399 [21MY], H4115 [18JN] H.R. 4293 — A bill to amend the Food for Peace Act to restore the original intent of commodity transfers, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H53 [10JA], H148 [16JA], H254 [25JA], H317 [30JA], H582 [13FE], H1000 [6MR], H1094 [11MR], H1149 [12MR], H2130 [29MR], H2253 [9AP] H.R. 4296 — A bill to direct the Secretary of the Interior to establish a grant program to assist primarily low-income individuals in making their homes and property more resilient to the impacts of climate change, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3330 [16MY] H.R. 4301 — A bill to amend the Mineral Leasing Act to make certain adjustments to the regulation of surface-disturbing activities and to protect taxpayers from unduly bearing the reclamation costs of oil and gas development, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H254 [25JA], H1190 [15MR], H1499 [22MR], H2143 [5AP] H.R. 4302 — A bill to provide for the accurate reporting of fossil fuel extraction and emissions by entities with leases on public land, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR], H1499 [22MR], H2143 [5AP], H3275 [15MY] H.R. 4303 — A bill to expand access to abortion care; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, the Judiciary, Natural Resources, Armed Services, Veterans’ Affairs, Oversight and Accountability, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1236 [19MR], H2130 [29MR], H2291 [10AP], H2445 [16AP], H3275 [15MY] H.R. 4307 — A bill to authorize the President to enter into trade agreements for the reciprocal elimination of duties or other import restrictions with respect to medical goods to contribute to the national security and public health of the United States, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP], H2875 [6MY], H3205 [14MY] H.R. 4310 — A bill to ban the sale of products with a high concentration of sodium nitrite to individuals, and for other purposes; to the Committee on Energy and Commerce. Reported (H. Rept. 118–497), H3003 [10MY] Text, H3027, H3028 [14MY] Rules suspended. Passed House, H3254 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on Commerce, Science, and Transportation, S3752 [16MY] H.R. 4312 — A bill to enhance the eligibility of India for Foreign Military Sales and exports under the Arms Export Control Act; to the Committee on Foreign Affairs. Cosponsors added, H14 [9JA] H.R. 4315 — A bill to amend title XVIII of the Social Security Act to protect beneficiaries with limb loss and other orthopedic conditions by providing access to appropriate, safe, effective, patient-centered orthotic and prosthetic care; to reduce fraud, waste, and abuse with respect to orthotics and prosthetics, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE], H739 [28FE], H2253 [9AP], H2368 [12AP], H2503 [17AP], H2875 [6MY] H.R. 4316 — A bill to amend the National Voter Registration Act of 1993 to permit a State to include as part of the mail voter registration form a requirement that applicants provide proof of citizenship, and for other purposes; to the Committee on House Administration. Cosponsors added, H53 [10JA] Reported with amendment (H. Rept. 118–386), H580 [13FE] H.R. 4319 — A bill to amend the Immigration and Nationality Act to provide for terms and conditions for nonimmigrant workers performing agricultural labor or services, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Ways and Means, Education and the Workforce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H2368 [12AP] H.R. 4322 — A bill to amend the Internal Revenue Code of 1986 to clarify that all provisions shall apply to legally married same-sex couples in the same manner as other married couples, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H189 [17JA], H242 [18JA], H254 [25JA], H697 [26FE], H739 [28FE], H1499 [22MR], H3681 [7JN] H.R. 4323 — A bill to prohibit the issuance of an interim or final rule that amends, updates, modifies, or replaces the North Atlantic Right Whale vessel strike reduction rule until mitigation protocols are fully developed and deployed; to the Committee on Transportation and Infrastructure. Cosponsors added, H273 [29JA], H2831 [1MY], H3007 [10MY] H.R. 4326 — A bill to permit legally married same-sex couples to amend their filing status for income tax returns outside the statute of limitations, to amend the Internal Revenue Code of 1986 to clarify that all provisions shall apply to legally married same-sex couples in the same manner as other married couples, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H273 [29JA], H693 [23FE], H2399 [15AP], H3399 [21MY] H.R. 4327 — A bill to direct the Secretary of Agriculture to establish the alternative manure management program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H273 [29JA], H544 [9FE], H2522 [18AP], H3727 [11JN] H.R. 4333 — A bill to enhance the authority granted to the Department of Homeland Security and Department of Justice with respect to unmanned aircraft systems and unmanned aircraft, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Transportation and Infrastructure, Homeland Security, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA], H504 [6FE], H739 [28FE], H3358 [17MY] H.R. 4334 — A bill to amend chapter 171 of title 28, United States Code, to allow suit against the United States for injuries and deaths of members of the Armed Forces caused by improper medical care, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H697 [26FE], H781 [1MR], H1094 [11MR], H1236 [19MR], H1297 [20MR], H2143 [5AP], H2291 [10AP], H2503 [17AP], H2559 [19AP], H2938 [7MY], H3543 [31MY], H4063 [13JN] H.R. 4335 — A bill to amend the National Housing Act to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to prospective FHA borrowers; to the Committee on Financial Services. Cosponsors added, H108 [11JA], H189 [17JA], H254 [25JA], H273 [29JA], H366 [31JA], H432 [5FE], H582 [13FE], H639 [14FE], H739 [28FE], H774 [29FE], H824 [5MR], H1149 [12MR], H1236 [19MR], H1499 [22MR], H2143 [5AP], H2253 [9AP], H2291 [10AP], H2399 [15AP], H2701 [29AP], H2875 [6MY], H3000 [8MY], H3275 [15MY], H3330 [16MY], H3583 [3JN], H3727 [11JN] H.R. 4336 — A bill to amend the Richard B. Russell National School Lunch Act to eliminate certain requirements under the summer food service program for children, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1190 [15MR] H.R. 4338 — A bill to amend the National Trails System Act to designate the Route 66 National Historic Trail, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H681 [15FE], H1190 [15MR], H2938 [7MY], H3727 [11JN] H.R. 4340 — A bill to prohibit commercial sexual orientation conversion therapy, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA], H366 [31JA], H739 [28FE], H1236 [19MR], H1499 [22MR], H3399 [21MY], H3583 [3JN], H3727 [11JN] H.R. 4342 — A bill to support educational entities in fully implementing title IX and reducing and preventing sex discrimination in all areas of education, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H639 [14FE] H.R. 4343 — A bill to amend the National Organ Transplant Act to clarify the definition of valuable consideration, to clarify that pilot programs that honor and promote organ donation do not violate that Act, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H538 [7FE], H681 [15FE], H739 [28FE], H3531 [24MY] H.R. 4345 — A bill to protect the dignity of fetal remains, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA] H.R. 4346 — A bill to raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes; to the Committee on Financial Services. Cosponsors added, H544 [9FE], H2319 [11AP] H.R. 4348 — A bill to amend the Internal Revenue Code of 1986 to exclude the portion of a lump-sum social security benefit payment that relates to periods prior to the taxable year from the determination of household income; to the Committee on Ways and Means. Cosponsors added, H3583 [3JN] H.R. 4349 — A bill to reauthorize the National Flood Insurance Program, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Transportation and Infrastructure, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1000 [6MR] H.R. 4350 — A bill to encourage and facilitate efforts by States and other stakeholders to conserve and sustain the western population of monarch butterflies, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3000 [8MY] H.R. 4352 — A bill to provide Nicaraguan political prisoners who arrived in the United States on February 9, 2023, and their immediate family members with certain benefits available to refugees; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1236 [19MR] H.R. 4355 — A bill to amend the Internal Revenue Code of 1986 to provide for an exclusion for assistance provided to participants in certain veterinary student loan repayment or forgiveness programs; to the Committee on Ways and Means. Cosponsors added, H4115 [18JN] H.R. 4361 — A bill to give Federal courts additional discretion to determine whether pretrial detention is appropriate for defendants charged with nonviolent drug offenses in Federal criminal cases; to the Committee on the Judiciary. Read the second time. Placed on the calendar, S3781 [20MY] H.R. 4362 — A bill to require the Administrator of the Transportation Security Administration and the Administrator of the Federal Aviation Administration to jointly issue regulations relating to air carrier transport of human organs, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP], H2831 [1MY] H.R. 4363 — A bill to address the health of cancer survivors and unmet needs that survivors face through the entire continuum of care from diagnosis through active treatment and posttreatment, in order to improve survivorship, treatment, transition to recovery and beyond, quality of life and palliative care, and long-term health outcomes, including by developing a minimum standard of care for cancer survivorship, irrespective of the type of cancer, a survivor’s background, or forthcoming survivorship needs, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H774 [29FE], H1236 [19MR], H3330 [16MY], H3583 [3JN], H4115 [18JN] H.R. 4364 — A bill making appropriations for the Legislative Branch for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations. Objection is heard to request for consideration, S2486 [21MR] H.R. 4366 — A bill making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations. Explanatory statement, S1104 [5MR] Objection is heard to request for consideration, S2223 [6MR] Motion to proceed agreed to, S2233 [6MR] Senate consideration of House amendment, S2233 [6MR], S2295 [8MR] Amendments, S2244, S2245 [6MR], S2286, S2287, S2288, S2289, S2290, S2291, S2292, S2293 [7MR], S2324, S2325, S2326 [8MR] Senate agreed to House amendment to Senate amendment, S2327 [8MR] Message from the Senate, H1065 [11MR] Message from the House (received March 8, 2024, during adjournment), S2345 [11MR] Examined and signed in the House (March 8, 2024), H1091 [11MR] Examined and signed in the Senate (March 8, 2024, during adjournment), S2345 [11MR] Presented to the President (March 8, 2024), H1091 [11MR] Approved [Public Law 118–42] (signed March 9, 2024) H.R. 4375 — A bill to amend title XVIII of the Social Security Act to provide coverage of medically necessary home resiliency services under Medicare; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA] H.R. 4378 — A bill to amend the Energy Policy and Conservation Act with respect to regional standards for furnaces, central air conditioners, and heat pumps; to the Committee on Energy and Commerce. Cosponsors added, H3583 [3JN], H3675 [5JN], H4063 [13JN] H.R. 4379 — A bill to amend the Richard B. Russell National School Lunch Act to expand the summer electronic benefits transfer for children program to include benefit transfer during school closures, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2445 [16AP] H.R. 4384 — A bill to reauthorize the Project Safe Neighborhoods Grant Program Authorization Act of 2018, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H538 [7FE], H1355 [21MR], H2319 [11AP], H3275 [15MY], H3399 [21MY], H3485 [22MY], H3675 [5JN] H.R. 4385 — A bill to extend authorization of the Reclamation States Emergency Drought Relief Act of 1991; to the Committee on Natural Resources. Reported (H. Rept. 118–365), H314 [30JA] Rules suspended. Passed House, H403 [5FE] Text, H403 [5FE] Message from the House, S420 [6FE] Referred to the Committee on Energy and Natural Resources, S421 [6FE] H.R. 4387 — A bill to amend the National Agricultural Research, Extension, and Teaching Policy Act of 1977 to direct the Secretary of Agriculture to establish a program providing for the establishment of Agriculture Cybersecurity Centers, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3681 [7JN] H.R. 4389 — A bill to amend the Neotropical Migratory Bird Conservation Act to make improvements to that Act, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H133 [12JA], H639 [14FE], H1149 [12MR] Reported with amendment (H. Rept. 118–439), H2140 [5AP] Rules suspended. Passed House amended, H2152 [9AP] Text, H2152 [9AP] Message from the House, S2704 [10AP], S2942 [20AP] Referred to the Committee on Environment and Public Works, S2704 [10AP] Committee discharged. Passed Senate, S2822 [17AP] Message from the Senate (received April 19, 2024), H2561 [20AP] Examined and signed in the House (April 20, 2024), H2632 [26AP] Examined and signed in the Senate, S2942 [20AP], S2997 [23AP] Presented to the President (April 24, 2024), H2632 [26AP] Approved [Public Law 118–51] (signed April 24, 2024) H.R. 4390 — A bill to establish a grant program to provide support for housing navigators who assist individuals in navigating local, State, and Federal housing assistance programs, and for other purposes; to the Committee on Financial Services. Cosponsors added, H544 [9FE] H.R. 4391 — A bill to amend the Internal Revenue Code of 1986 to treat certain assisted reproduction expenses as medical expenses of the taxpayer; to the Committee on Ways and Means. Cosponsors added, H432 [5FE], H504 [6FE], H544 [9FE], H582 [13FE], H1034 [7MR], H2253 [9AP], H3358 [17MY], H3399 [21MY] H.R. 4392 — A bill to increase access to pre-exposure prophylaxis to reduce the transmission of HIV; to the Committee on Energy and Commerce, and in addition to the Committees on Oversight and Accountability, Ways and Means, Veterans’ Affairs, Armed Services, Natural Resources, Financial Services, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H739 [28FE], H1236 [19MR], H1355 [21MR], H1499 [22MR], H2130 [29MR], H2253 [9AP], H3007 [10MY] H.R. 4396 — A bill to amend the Help America Vote Act of 2002 to prohibit noncitizen voting in District of Columbia elections, and for other purposes; to the Committee on House Administration. Reported (H. Rept. 118–395), H691 [23FE] H.R. 4400 — A bill to direct the Secretary of Veterans Affairs to conduct an independent review of the deaths of certain veterans by suicide, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H4115 [18JN] H.R. 4403 — A bill to amend the Homeland Security Act of 2002 to make improvements to the Securing the Cities program, and for other purposes; to the Committee on Homeland Security. Rules suspended. Passed House, H786 [5MR] Text, H786 [5MR] Message from the House, S2237 [6MR] Referred to the Committee on Homeland Security and Governmental Affairs, S2237 [6MR] H.R. 4405 — A bill to amend the Higher Education Act of 1965 to require annual reporting on assets of institutions of higher education; to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3656 [4JN] H.R. 4408 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish a time-limited provisional approval pathway, subject to specific obligations, for certain drugs and biological products, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2143 [5AP] H.R. 4412 — A bill to direct the Secretary of Health and Human Services, acting through the Director of the Centers for Disease Control and Prevention, to award grants to States to implement a tick identification pilot program; to the Committee on Energy and Commerce. Cosponsors added, H317 [30JA], H2368 [12AP], H2399 [15AP], H2445 [16AP], H2771 [30AP] H.R. 4413 — A bill to provide for the issuance of a Lyme Disease Research Semipostal Stamp; to the Committee on Oversight and Accountability, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H2399 [15AP], H2445 [16AP], H2559 [19AP], H3205 [14MY] H.R. 4417 — A bill to prevent States and local jurisdictions from interfering with the production and distribution of agricultural products in interstate commerce, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H544 [9FE], H3205 [14MY] H.R. 4418 — A bill to amend title 10, United States Code, to repeal the restriction on the use of funds and facilities of the Department of Defense for abortion care; to the Committee on Armed Services. Cosponsors added, H432 [5FE] H.R. 4422 — A bill to impose sanctions on foreign persons responsible for violations of internationally recognized human rights against lesbian, gay, bisexual, transgender, queer and intersex (LGBTQI) individuals, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H504 [6FE] H.R. 4423 — A bill to establish a process by which the appointment of Supreme Court Justices can occur at regular time intervals, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H189 [17JA], H390 [1FE] H.R. 4424 — A bill to direct the Secretary of Veterans Affairs to study and report on the prevalence of cholangiocarcinoma in veterans who served in the Vietnam theater of operations during the Vietnam era, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H1034 [7MR] H.R. 4426 — A bill to amend the Radiation Exposure Compensation Act to improve compensation for workers involved in uranium mining, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Energy and Commerce, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2143 [5AP], H2445 [16AP] H.R. 4427 — A bill to withhold Federal highway funds from States that provide driver’s licenses or identification cards to aliens who are unlawfully present in the United States, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H3727 [11JN] H.R. 4431 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide for a pilot program under the Comprehensive Opioid Abuse Grant Program for local law enforcement agencies located in rural areas to purchase naloxone to prevent and reduce opioid overdose deaths, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H148 [16JA] H.R. 4432 — A bill to amend title 18, United States Code, to prohibit defenses based on sexual orientation or gender identity or expression; to the Committee on the Judiciary. Cosponsors added, H53 [10JA], H693 [23FE], H1190 [15MR], H1297 [20MR], H2130 [29MR], H3000 [8MY] H.R. 4438 — A bill to amend title XVIII of the Social Security Act to provide for coverage and payment of Alpha-1 Antitrypsin Deficiency Disorder treatment under part B of such title, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H133 [12JA], H189 [17JA], H242 [18JA], H273 [29JA], H390 [1FE], H1058 [8MR], H1190 [15MR], H1236 [19MR], H2253 [9AP], H2368 [12AP], H2836 [2MY], H3000 [8MY], H3007 [10MY], H3485 [22MY], H3681 [7JN] H.R. 4439 — A bill to extend the protections of the Fair Housing Act to persons suffering discrimination on the basis of sex or sexual orientation, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2876 [6MY], H2938 [7MY], H3205 [14MY], H3330 [16MY], H3656 [4JN], H4110 [14JN] H.R. 4441 — A bill to amend the Internal Revenue Code of 1986 to prohibit foreign adversaries and certain entities related to such adversaries from claiming certain tax credits relating to electric vehicles; to the Committee on Ways and Means. Cosponsors added, H2522 [18AP] H.R. 4442 — A bill to direct the Secretary of Education to award grants to State educational agencies for the purpose of implementing, administering, and evaluating programs that provide tutoring to students in elementary and secondary schools, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1355 [21MR] H.R. 4444 — A bill to establish in the Executive Office of the President an Office of Young Americans, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H1034 [7MR], H2368 [12AP] H.R. 4445 — A bill to repeal the joint resolution entitled ‘‘A joint resolution to promote peace and stability in the Middle East’’; to the Committee on Foreign Affairs. Cosponsors added, H774 [29FE] H.R. 4448 — A bill to amend the Immigration and Nationality Act to authorize admission of Canadian retirees as long-term visitors for pleasure described in section 101(a)(15)(B) of such Act, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H390 [1FE], H1094 [11MR] H.R. 4450 — A bill to require the Secretary of the Treasury to conduct a study and submit a report on certain risks to United States investors in the event of hostilities in Taiwan or the Taiwan Strait; to the Committee on Financial Services. Cosponsors added, H697 [26FE] H.R. 4455 — A bill to amend the Consolidated Farm and Rural Development Act to support the buildout of clean school bus charging infrastructure through community facilities direct loans and grants; to the Committee on Agriculture. Cosponsors added, H2319 [11AP] H.R. 4456 — A bill to allow certain students, including those who have an expected family contribution of zero, to qualify for supplemental nutrition assistance program benefits under the Food and Nutrition Act of 2008; to the Committee on Agriculture. Cosponsors added, H14 [9JA], H254 [25JA], H366 [31JA], H390 [1FE], H432 [5FE], H544 [9FE], H582 [13FE], H681 [15FE], H1236 [19MR], H2253 [9AP], H3583 [3JN], H3727 [11JN], H4063 [13JN] H.R. 4460 — A bill to amend the National Voter Registration Act of 1993 and the Help America Vote Act of 2002 to ensure that only eligible American citizens may participate in elections for Federal office, and for other purposes; to the Committee on House Administration, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA] Reported from the Committee on House Administration (H. Rept. 118–462, part 1), H2395 [15AP] Committee on the Judiciary discharged, H2395 [15AP] H.R. 4466 — A bill to rename the Richard B. Russell National School Lunch Act, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H582 [13FE], H774 [29FE] H.R. 4467 — A bill to direct the Under Secretary for Management of the Department of Homeland Security to assess contracts for covered services performed by contractor personnel along the United States land border with Mexico, and for other purposes; to the Committee on Homeland Security. Rules suspended. Passed House amended, H789 [5MR] Text, H789 [5MR] Message from the House, S2237 [6MR] Referred to the Committee on Homeland Security and Governmental Affairs, S2237 [6MR] H.R. 4475 — A bill to provide targeted funding for States and other eligible entities through the Social Services Block Grant program to increase the availability of menstrual products for individuals with limited access to such products; to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3681 [7JN] H.R. 4478 — A bill to facilitate access to existing resources with respect to United States citizens arbitrarily detained or kidnapped overseas, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H366 [31JA] H.R. 4486 — A bill to clarify that a State or local jurisdiction may give preference to individuals who are veterans or individuals with a disability with respect to hiring election workers to administer an election in the State or local jurisdiction, and for other purposes; to the Committee on House Administration. Reported with amendment (H. Rept. 118–461), H2395 [15AP] H.R. 4510 — A bill to reauthorize the National Telecommunications and Information Administration, to update the mission and functions of the agency, and for other purposes; to the Committee on Energy and Commerce. Debated, H3014 [14MY] Text, H3014 [14MY] Rules suspended. Passed House amended, H3253 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on Commerce, Science, and Transportation, S3752 [16MY] H.R. 4515 — A bill to direct the Secretary of Education to award grants to institutions of higher education with an endowment lower than $900,000,000 and an annual operating revenue for athletic programs that is less than $20,000,000 to strengthen existing sports and athletic facilities at such institutions, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H366 [31JA], H781 [1MR] H.R. 4518 — A bill to amend title 38, United States Code, to modify the program of comprehensive assistance for family caregivers of veterans, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H538 [7FE], H582 [13FE], H3656 [4JN] H.R. 4519 — A bill to amend part B of the Individuals with Disabilities Education Act to provide full Federal funding of such part; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H582 [13FE], H774 [29FE], H1190 [15MR], H1236 [19MR], H2368 [12AP], H2503 [17AP], H2636 [26AP], H3000 [8MY], H3275 [15MY], H3330 [16MY], H3675 [5JN], H3727 [11JN] H.R. 4524 — A bill to amend the Indian Law Enforcement Reform Act to provide for advancements in public safety services to Indian communities, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE], H1058 [8MR], H2253 [9AP], H3656 [4JN] H.R. 4525 — A bill to provide an individual with an eligible medical condition access to employee restroom facilities of a retail establishment under certain conditions, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2253 [9AP], H2319 [11AP] H.R. 4530 — A bill to establish an Office of Public Engagement and Participation within the Nuclear Regulatory Commission, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H739 [28FE] H.R. 4534 — A bill to require a review of women and lung cancer, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H582 [13FE], H1034 [7MR], H1297 [20MR], H2253 [9AP], H2399 [15AP], H3485 [22MY] H.R. 4536 — A bill to oppose the permitting of deep seabed mining and exploration for deep seabed mining, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H273 [29JA] H.R. 4538 — A bill to establish a comprehensive, long-term United States strategy and policy for the Pacific Islands, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Natural Resources, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H247 [22JA] H.R. 4539 — A bill to amend the Internal Revenue Code of 1986 to repeal the temporary limitation on personal casualty losses; to the Committee on Ways and Means. Cosponsors added, H53 [10JA] H.R. 4540 — A bill to amend the Safe Drinking Water Act to establish a program to provide grants to suppliers of water for the purpose of making infrastructure improvements to public water systems, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE], H2636 [26AP] H.R. 4541 — A bill to improve the identification and support of children and families who experience trauma; to the Committee on Education and the Workforce, and in addition to the Committees on Energy and Commerce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H781 [1MR], H1034 [7MR], H2121 [26MR], H2143 [5AP], H2291 [10AP], H2876 [6MY], H3275 [15MY], H3727 [11JN] H.R. 4545 — A bill to amend the Foreign Agents Registration Act of 1938, as amended to clarify the obligation of individuals who formerly served as agents of foreign principals to register retroactively as foreign agents under the Act with respect to activities carried out previously on behalf of such foreign principals, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H189 [17JA] H.R. 4547 — A bill to establish a fund to promote the inspection and consumption of shrimp and products containing shrimp or shrimp parts; to the Committee on Energy and Commerce, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H317 [30JA], H2130 [29MR] H.R. 4549 — A bill to amend the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 to clarify the scope of a major Federal action under the National Environmental Policy Act of 1969 with respect to certain projects relating to the production of semiconductors, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committees on Energy and Commerce, Armed Services, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY], H3543 [31MY] H.R. 4550 — A bill to direct the Secretary of Education to carry out a grant program to support the recruitment and retention of paraprofessionals in public elementary schools, secondary schools, and preschool programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H681 [15FE], H1149 [12MR], H1182 [13MR], H1499 [22MR] H.R. 4551 — A bill to prohibit the Securities and Exchange Commission from requiring that personally identifiable information be collected under consolidated audit trail reporting requirements, and for other purposes; to the Committee on Financial Services. Cosponsors added, H824 [5MR], H1297 [20MR], H2629 [23AP] H.R. 4555 — A bill to amend the Help America Vote Act of 2002 to allow the use of requirements payments to conduct a post-election audit with respect to an election for Federal office in a State; to the Committee on House Administration. Reported with amendment (H. Rept. 118–465), H2500 [17AP] H.R. 4557 — A bill to ensure that federally backed financing for the construction, rehabilitation, or purchase of manufactured home communities is available only for communities whose owner has implemented minimum consumer protections in the lease agreements with residents of all manufactured home communities owned by such owner, and for other purposes; to the Committee on Financial Services. Cosponsors added, H1058 [8MR] H.R. 4561 — A bill to encourage reduction of disposable plastic products in units of the National Park System, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H366 [31JA], H504 [6FE] H.R. 4563 — A bill to promote election integrity, voter confidence, and faith in elections by removing Federal impediments to, equipping States with tools for, and establishing voluntary considerations to support effective State administration of Federal elections, improving election administration in the District of Columbia, improving the effectiveness of military voting programs, enhancing election security, and protecting political speech, and for other purposes; to the Committee on House Administration, and in addition to the Committees on the Judiciary, Ways and Means, Science, Space, and Technology, Intelligence (Permanent Select), Homeland Security, Education and the Workforce, Financial Services, Oversight and Accountability, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H317 [30JA], H366 [31JA], H3485 [22MY] H.R. 4564 — A bill to prohibit Federal agencies from contracting with companies engaged in a boycott of Israel, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H148 [16JA] H.R. 4565 — A bill to amend the weights used to determine amounts for targeted grants and education finance incentive grants for local educational agencies under title I of the Elementary and Secondary Education Act of 1965; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H189 [17JA], H504 [6FE], H544 [9FE], H1149 [12MR] H.R. 4566 — A bill to amend title 38, United States Code, to prohibit the Secretary of Veterans Affairs from requiring evidence of a certain dose of radiation to determine that a veteran is a radiation-exposed veteran, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H1094 [11MR], H1297 [20MR], H1499 [22MR] H.R. 4567 — A bill to amend Public Law 117-78 to strengthen the requirements under that Act; to the Committee on Ways and Means, and in addition to the Committees on Foreign Affairs, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE] H.R. 4569 — A bill to provide benefits for noncitizen members of the Armed Forces, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Veterans’ Affairs, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H53 [10JA], H1190 [15MR], H2701 [29AP], H3535 [28MY] H.R. 4571 — A bill to amend the Internal Revenue Code of 1986 to expand the employer-provided child care credit and the dependent care assistance exclusion; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H366 [31JA], H390 [1FE], H504 [6FE], H538 [7FE], H681 [15FE], H781 [1MR], H1297 [20MR], H2130 [29MR], H2253 [9AP], H2445 [16AP], H2522 [18AP], H2629 [23AP], H3000 [8MY], H4115 [18JN] H.R. 4572 — A bill to provide for research and education with respect to uterine fibroids, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H3485 [22MY], H3656 [4JN] H.R. 4576 — A bill to amend the Clean Air Act to require the Administrator of the Environmental Protection Agency to make available for sale renewable fuel credits, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Agriculture, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H681 [15FE] H.R. 4577 — A bill to protect U.S. food security, give the Committee on Foreign Investment in the United States greater jurisdiction over land purchases, to impose special guards against foreign adversary purchases of land in the United States near sensitive sites, to expand the definition of sensitive sites, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H318 [30JA], H2291 [10AP] H.R. 4579 — A bill to amend the Fair Labor Standards Act of 1938 to provide increased labor law protections for agricultural workers, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE], H582 [13FE], H774 [29FE], H2253 [9AP] H.R. 4581 — A bill to amend title V of the Social Security Act to support stillbirth prevention and research, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H109 [11JA], H242 [18JA], H273 [29JA], H544 [9FE], H688 [20FE], H1000 [6MR], H1149 [12MR], H1182 [13MR], H2938 [7MY] Reported with amendment (H. Rept. 118–490), H2935 [7MY] Rules suspended. Passed House amended, H3254 [15MY] Message from the House, S3751 [16MY] Passed Senate, S4023 [11JN] Message from the Senate (received June 17, 2024), H4111 [18JN] H.R. 4582 — A bill to amend the Public Health Service Act to authorize the use of Preventive Health and Health Services Block Grants to purchase life-saving opioid antagonists for schools and to provide related training and education to students and teachers, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H824 [5MR], H3485 [22MY] H.R. 4583 — A bill to protect our Social Security system and improve benefits for current and future generations; to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H739 [28FE], H2143 [5AP], H3330 [16MY] H.R. 4585 — A bill to amend title XIX of the Social Security Act to provide a higher Federal matching rate for increased expenditures under Medicaid for maternal health care services; to the Committee on Energy and Commerce. Cosponsors added, H432 [5FE] H.R. 4588 — A bill to ensure that significantly more students graduate college with the international knowledge and experience essential for success in today’s global economy through the establishment of the Senator Paul Simon Study Abroad Program in the Department of State; to the Committee on Foreign Affairs. Cosponsors added, H1236 [19MR], H2253 [9AP] H.R. 4591 — A bill to amend the Higher Education Act of 1965 to require the removal of the record of default from credit history upon obtaining a Federal Direct Consolidation Loan that discharges the defaulted loan; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE] H.R. 4594 — A bill to amend the Higher Education Act of 1965 to remove all adverse credit history related to a loan from the credit history of a borrower who has rehabilitated the loan; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE] H.R. 4599 — A bill to provide for the Secretary of Health and Human Services to establish grant programs to improve the health and positive youth development impacts of youth sports participation, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR] H.R. 4602 — A bill to replace references to ‘‘wives’’ and ‘‘husbands’’ in Federal law with references to ‘‘spouses’’; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H53 [10JA], H681 [15FE], H739 [28FE], H3330 [16MY], H3358 [17MY], H3727 [11JN] H.R. 4603 — A bill to provide for the prioritization of projects that provide behavioral and mental health treatment services in selecting grantees under certain rural development programs, and extend the substance abuse disorder set-aside and priority under the programs; to the Committee on Agriculture. Cosponsors added, H739 [28FE] H.R. 4605 — A bill to amend titles XIX and XXI of the Social Security Act to improve maternal health coverage under Medicaid and CHIP, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE], H3399 [21MY] H.R. 4606 — A bill to increase the number of landlords participating in the Housing Choice Voucher program; to the Committee on Financial Services. Cosponsors added, H824 [5MR], H4110 [14JN] H.R. 4610 — A bill to conform Federal tax law with the Texas Constitution to allow for the continued benefit to the fullest extent possible from the financial leverage of the Permanent University Fund to the State of Texas; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H318 [30JA] H.R. 4611 — A bill to amend the Federal Election Campaign Act of 1971 to prohibit the distribution, with actual malice, of certain political communications that contain materially deceptive audio generated by artificial intelligence which impersonate a candidate’s voice and are intended to injure the candidate’s reputation or to deceive a voter into voting against the candidate, and for other purposes; to the Committee on House Administration. Cosponsors added, H273 [29JA], H739 [28FE] H.R. 4612 — A bill to provide technical assistance to improve infrastructure in foreign markets for United States agricultural commodities; to the Committee on Agriculture. Cosponsors added, H53 [10JA], H254 [25JA], H273 [29JA], H432 [5FE] H.R. 4613 — A bill to amend the Richard B. Russell National School Lunch Act to require a school food authority to make publicly available any waiver of the Buy American requirement, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H639 [14FE], H774 [29FE] H.R. 4615 — A bill to require that information on spending associated with national emergencies be subject to the same reporting requirements as other Federal funds under the Federal Funding Accountability and Transparency Act of 2006, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H318 [30JA] H.R. 4624 — A bill to prohibit the discriminatory use of personal information by online platforms in any algorithmic process, to require transparency in the use of algorithmic processes and content moderation, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H254 [25JA], H273 [29JA] H.R. 4627 — A bill to provide support for nationals of Afghanistan who supported the United States mission in Afghanistan, adequate vetting for parolees from Afghanistan, adjustment of status for eligible individuals, and special immigrant status for at-risk Afghan allies and relatives of certain members of the Armed Forces, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2253 [9AP] H.R. 4635 — A bill to amend the Higher Education Act of 1965 to remove the record of default on a loan made, insured, or guaranteed under title IV from a borrower’s credit history upon repayment of the full amount due on such loan; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE] H.R. 4639 — A bill to amend section 2702 of title 18, United States Code, to prevent law enforcement and intelligence agencies from obtaining subscriber or customer records in exchange for anything of value, to address communications and records in the possession of intermediary internet service providers, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported from the Committee on the Judiciary (H. Rept. 118–459, part 1), H2395 [15AP] Committee on Intelligence (Permanent Select) discharged, H2395 [15AP] Providing for consideration (H. Res. 1149), H2443 [16AP] Debated, H2459 [17AP] Text, H2463 [17AP] Amendments, H2465, H2466 [17AP] Passed House amended, H2481 [17AP] Message from the House, S2869 [18AP] H.R. 4646 — A bill to reauthorize the rural emergency medical service training and equipment assistance program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H544 [9FE], H693 [23FE], H1149 [12MR], H2559 [19AP], H3000 [8MY], H3399 [21MY], H3485 [22MY], H3526 [23MY] Reported with amendment (H. Rept. 118–532), H3541 [31MY] H.R. 4660 — A bill to prohibit Federal funding for institutions of higher education that have agreements with certain academic institutions in the People’s Republic of China and the Russian Federation, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Armed Services, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2831 [1MY] H.R. 4661 — A bill to require the Director of the Office of Entrepreneurship Education of the Small Business Administration to establish and maintain a website regarding small business permitting and licensing requirements, and for other purposes; to the Committee on Small Business. Cosponsors added, H2253 [9AP] H.R. 4663 — A bill to clarify that installation of mechanical insulation property is as an energy or water efficiency measure that may be used in Federal buildings for purposes of section 543(f) of the National Energy Conservation Policy Act, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H109 [11JA], H189 [17JA], H273 [29JA], H681 [15FE], H739 [28FE], H2253 [9AP], H2629 [23AP], H2876 [6MY], H3205 [14MY], H3399 [21MY], H3531 [24MY], H3583 [3JN], H3656 [4JN], H3675 [5JN], H3727 [11JN], H4115 [18JN] H.R. 4669 — A bill to provide for Department of Energy, National Laboratories, and Small Business Administration joint research and development activities, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Rules suspended. Passed House amended, H721 [28FE] Text, H721 [28FE] Title amended, H722 [28FE] Message from the House, S1075 [29FE] Referred to the Committee on Energy and Natural Resources, S1075 [29FE] H.R. 4673 — A bill to withdraw normal trade relations treatment from products of the People’s Republic of China, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H189 [17JA] H.R. 4674 — A bill to establish a competitive grant program to fund feasibility studies for advanced nuclear reactors, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3526 [23MY] H.R. 4681 — A bill to provide for the imposition of sanctions with respect to illicit captagon trafficking; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Text, H2419 [16AP] Rules suspended. Passed House amended, H2433 [16AP] Message from the House, S2824 [17AP] Referred to the Committee on Foreign Relations, S2824 [17AP] H.R. 4682 — A bill to award a Congressional Gold Medal to the Mercury 13, in recognition of their historic accomplishments and their work for gender equity, and in recognition of their important example of women in STEM fields; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H2143 [5AP], H2636 [26AP], H3531 [24MY], H3727 [11JN] H.R. 4683 — A bill to prohibit support for the remote use or cloud use of integrated circuits listed under Export Control Classification Number 3A090 and 4A090 of the Export Administration Regulations by entities located in the People’s Republic of China or Macau; to the Committee on Foreign Affairs. Cosponsors added, H1000 [6MR] H.R. 4684 — A bill to amend the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 to expand the prohibition on State noncompliance with enforcement of the immigration laws; to the Committee on the Judiciary. Cosponsors added, H2636 [26AP] H.R. 4688 — A bill to direct the Administrator of General Services to sell the property known as the Webster School; to the Committee on Transportation and Infrastructure. Reported with amendment (no written report), S3855 [22MY] H.R. 4691 — A bill to provide for congressional review of actions to terminate or waive sanctions imposed with respect to Iran; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Oversight and Accountability, Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2399 [15AP] Providing for consideration (H. Res. 1149), H2443 [16AP] Debated, H2471 [17AP] Text, H2471 [17AP] Passed House amended, H2482 [17AP] H.R. 4693 — A bill to provide that the Federal Reports Elimination and Sunset Act of 1995 does not apply to certain reports required to be submitted by the Tennessee Valley Authority, and for other purposes; to the Committee on Transportation and Infrastructure. Rules suspended. Passed House amended, H1078 [11MR] Text, H1078 [11MR] Message from the House, S2364 [12MR] Referred to the Committee on Homeland Security and Governmental Affairs, S2364 [12MR] H.R. 4699 — A bill to establish within the Department of Health and Human Services a Division on Community Safety, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Energy and Commerce, Transportation and Infrastructure, Financial Services, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2522 [18AP], H3205 [14MY], H4063 [13JN] H.R. 4701 — A bill to codify the temporary scheduling order for fentanyl-related substances by adding fentanyl-related substances to schedule I of the Controlled Substances Act; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA] H.R. 4702 — A bill to require the Secretary of Health and Human Services to prescribe a regulation reducing the risks in gene synthesis products, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H681 [15FE] H.R. 4704 — A bill to require the Assistant Secretary for Preparedness and Response shall conduct risk assessments and implement strategic initiatives or activities to address threats to public health and national security due to technical advancements in artificial intelligence or other emerging technology fields; to the Committee on Energy and Commerce. Cosponsors added, H1000 [6MR] H.R. 4706 — A bill to establish the Interagency Task Force to Address Hunger and Promote Access to Healthy Food Among Older Adults and Adults with Disabilities, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2136 [2AP] H.R. 4708 — A bill to streamline the issuance of nonimmigrant temporary work visas, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H109 [11JA], H582 [13FE], H1499 [22MR] H.R. 4711 — A bill to limit the authority of the Secretary of Education to propose or issue regulations and executive actions; to the Committee on Education and the Workforce. Cosponsors added, H2503 [17AP] H.R. 4713 — A bill to codify the Rural Hospital Technical Assistance Program of the Department of Agriculture; to the Committee on Agriculture. Cosponsors added, H739 [28FE], H781 [1MR], H1236 [19MR], H2629 [23AP], H2831 [1MY] H.R. 4714 — A bill to amend the Public Health Service Act to authorize the Director of the National Institutes of Health to make awards to outstanding scientists, including physician-scientists, to support researchers focusing on pediatric research, including basic, clinical, translational, or pediatric pharmacological research, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA] H.R. 4720 — A bill to direct the Secretary of Labor to award grants for the recruitment, retention, and advancement of direct care workers; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA] H.R. 4721 — A bill to amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H53 [10JA], H109 [11JA], H254 [25JA], H639 [14FE], H681 [15FE], H739 [28FE], H1499 [22MR], H2121 [26MR], H2143 [5AP], H2319 [11AP], H2399 [15AP], H2701 [29AP], H2876 [6MY], H3205 [14MY], H3275 [15MY], H3583 [3JN], H3681 [7JN], H3727 [11JN] H.R. 4723 — A bill to provide for the imposition of sanctions with respect to foreign persons undermining the Dayton Peace Agreement or threatening the security of Bosnia and Herzegovina, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Text, H1195 [19MR] Rules suspended. Passed House amended, H1220 [19MR] Message from the House, S2466 [20MR] Referred to the Committee on Foreign Relations, S2466 [20MR] H.R. 4727 — A bill to exclude certain individuals subject to certain deferred action from eligibility for health plans offered on the Exchanges, advance payments of the premium tax credit, cost-sharing reductions, a Basic Health Program, and for Medicaid and the Children’s Health Insurance Programs, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H697 [26FE] H.R. 4728 — A bill to amend title 49, United States Code, to provide for free public transportation for individuals who are recently released from incarceration; to the Committee on Transportation and Infrastructure. Cosponsors added, H432 [5FE], H582 [13FE] H.R. 4731 — A bill to require health insurance coverage for the treatment of infertility; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, Ways and Means, Oversight and Accountability, Veterans’ Affairs, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE], H1190 [15MR], H3358 [17MY], H3485 [22MY] H.R. 4736 — A bill to amend the Consolidated Farm and Rural Development Act to provide support for facilities providing healthcare, education, child care, public safety, and other vital services in rural areas; to the Committee on Agriculture. Cosponsors added, H53 [10JA], H109 [11JA], H688 [20FE], H1355 [21MR], H2445 [16AP] H.R. 4740 — A bill to streamline the budget process at the Department of Defense, and for other purposes; to the Committee on Armed Services. Cosponsors added, H774 [29FE], H781 [1MR], H1149 [12MR], H2253 [9AP] H.R. 4745 — A bill to amend the Agriculture and Consumer Protection Act of 1973 to establish a pilot grant program to award grants to facilitate home delivery of commodities under the commodity supplemental food program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H273 [29JA], H681 [15FE], H739 [28FE], H1000 [6MR], H2503 [17AP], H3485 [22MY] H.R. 4746 — A bill to provide access to reliable, clean, and drinkable water on Tribal lands, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR] H.R. 4750 — A bill to amend the Bill Emerson Good Samaritan Food Donation Act to provide protection for the good faith donation of pet products, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H681 [15FE], H1000 [6MR], H2121 [26MR], H2253 [9AP] H.R. 4752 — A bill to amend title XVIII of the Social Security Act to provide for certain cognitive impairment detection in the Medicare annual wellness visit and initial preventive physical examination; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H318 [30JA], H1236 [19MR], H3531 [24MY] H.R. 4755 — A bill to support research on privacy enhancing technologies and promote responsible data use, and for other purposes; to the Committee on Science, Space, and Technology. Text, H2652 [29AP] Rules suspended. Passed House amended, H2688 [29AP] Message from the House, S3077 [30AP] Referred to the Committee on Commerce, Science, and Transportation, S3078 [30AP] H.R. 4756 — A bill to provide tax incentives that support local media; to the Committee on Ways and Means. Cosponsors added, H318 [30JA], H390 [1FE], H639 [14FE], H2559 [19AP], H4110 [14JN] H.R. 4757 — A bill to amend the Public Health Service Act to prohibit the National Institutes of Health from awarding any support for an activity or program that uses live animals in research unless the research occurs in the United States, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H582 [13FE], H688 [20FE], H774 [29FE], H1058 [8MR], H1094 [11MR], H1190 [15MR], H2771 [30AP], H3399 [21MY], H3975 [12JN], H4110 [14JN] H.R. 4758 — A bill to amend title XIX of the Social Security Act to streamline enrollment under the Medicaid program of certain providers across State lines, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H148 [16JA], H242 [18JA], H254 [25JA], H688 [20FE], H739 [28FE], H774 [29FE], H824 [5MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1297 [20MR], H2130 [29MR], H2399 [15AP], H2629 [23AP], H2636 [26AP], H3007 [10MY], H3675 [5JN], H3727 [11JN], H4110 [14JN] H.R. 4760 — A bill to amend the Internal Revenue Code of 1986 to increase excise taxes on fuel used by private jets, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H432 [5FE] H.R. 4763 — A bill to provide for a system of regulation of digital assets by the Commodity Futures Trading Commission and the Securities and Exchange Commission, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H2771 [30AP], H2831 [1MY] Reported with amendment (H. Rept. 118–484, part 1), H2873 [6MY] Reported with amendment (H. Rept. 118–484, part 2), H2873 [6MY] Providing for consideration (H. Res. 1243), H3396 [21MY] Debated, H3419 [22MY] Text, H3432 [22MY] Amendments, H3455, H3456, H3457, H3459 [22MY] Passed House amended, H3463 [22MY] H.R. 4766 — A bill to provide for the regulation of payment stablecoins, and for other purposes; to the Committee on Financial Services. Cosponsors added, H2876 [6MY] Reported with amendment (H. Rept. 118–492), H2935 [7MY] H.R. 4768 — A bill to require the Secretary of the Treasury to instruct the United States Executive Directors at the international financial institutions to advocate for investment in projects that decrease reliance on Russia for agricultural commodities; to the Committee on Financial Services. Text, H68 [11JA] Rules suspended. Passed House amended, H125 [12JA] Message from the House, S121 [16JA] Referred to the Committee on Foreign Relations, S121 [16JA] H.R. 4769 — A bill to drive innovation in developing next-generation protection for firefighters by accelerating the development of PFAS-free turnout gear, and for other purposes; to the Committee on Homeland Security, and in addition to the Committees on Science, Space, and Technology, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H254 [25JA], H432 [5FE], H538 [7FE], H739 [28FE], H1000 [6MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1236 [19MR], H1499 [22MR], H2253 [9AP], H2522 [18AP], H2559 [19AP], H2623 [20AP], H2771 [30AP], H2938 [7MY], H3275 [15MY], H3583 [3JN], H3727 [11JN] H.R. 4770 — A bill to reauthorize the Chesapeake Bay Office of the National Oceanic and Atmospheric Administration, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H1000 [6MR] Reported with amendment (H. Rept. 118–434), H2134 [2AP] H.R. 4771 — A bill to amend title XXI of the Social Security Act to permanently extend the Children’s Health Insurance Program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA], H2121 [26MR], H2143 [5AP], H3681 [7JN] H.R. 4774 — A bill to direct the Administrator of the Federal Emergency Management Agency to issue guidance on extreme temperature events and resilience goals, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H53 [10JA] H.R. 4775 — A bill to amend title XIX and XXI of the Social Security Act to provide coverage of comprehensive tobacco cessation services under such titles, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2636 [26AP] H.R. 4779 — A bill to amend title XVIII of the Social Security Act to provide coverage for custom fabricated breast prostheses following a mastectomy; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H247 [22JA], H2136 [2AP] H.R. 4780 — A bill to remove linguistic barriers to participation in Gun Violence Prevention Strategies; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP] H.R. 4787 — A bill to expand eligibility for certain housing programs for qualified volunteer first responders; to the Committee on Financial Services. Cosponsors added, H318 [30JA] H.R. 4794 — A bill to amend the Internal Revenue Code of 1986 to permit expenditures from health savings accounts, flexible spending arrangements, and health reimbursement arrangements for dietary supplements; to the Committee on Ways and Means. Cosponsors added, H273 [29JA], H1149 [12MR], H1236 [19MR], H1499 [22MR], H3275 [15MY] H.R. 4796 — A bill to establish a grant program to fund reproductive health patient navigators for individuals seeking abortion services; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA], H3531 [24MY] H.R. 4798 — A bill to amend the Foreign Assistance Act of 1961 to update and strengthen existing efforts to end violence against children, improve coordination among agencies addressing this violence, and promote the use of evidence-based strategies and critical information gathering capabilities, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H242 [18JA], H254 [25JA] H.R. 4800 — A bill to amend the Food Security Act of 1985 to establish an exception to certain payment limitations in the case of person or legal entity that derives income from agriculture, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3000 [8MY] H.R. 4812 — A bill to amend the Higher Education Act of 1965 to authorize the Secretary of Education to make grants to institutions of higher education to provide free meals to low-income students through existing on-campus meal programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2253 [9AP], H3583 [3JN], H3727 [11JN], H4115 [18JN] H.R. 4814 — A bill to direct the Consumer Product Safety Commission to establish a pilot program to explore the use of artificial intelligence in support of the mission of the Commission and to direct the Secretary of Commerce and the Federal Trade Commission to study and report on the use of blockchain technology and digital tokens, respectively; to the Committee on Energy and Commerce. Reported with amendments (H. Rept. 118–498), H3003 [10MY] Rules suspended. Passed House amended, H3032 [14MY] Text, H3032 [14MY] Title amended, H3034 [14MY] Message from the House, S3709 [15MY] Referred to the Committee on Commerce, Science, and Transportation, S3709 [15MY] H.R. 4817 — A bill to direct the Secretary of Housing and Urban Development to establish a grant program for planting of qualifying trees in eligible areas, and for other purposes; to the Committee on Financial Services. Cosponsors added, H1236 [19MR], H3399 [21MY] H.R. 4818 — A bill to amend title XVIII of the Social Security Act to provide for the coordination of programs to prevent and treat obesity, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H693 [23FE], H697 [26FE], H739 [28FE], H774 [29FE], H824 [5MR], H1149 [12MR], H1182 [13MR], H2253 [9AP], H2399 [15AP], H2629 [23AP], H2876 [6MY], H3205 [14MY], H3358 [17MY], H3400 [21MY], H3526 [23MY], H3583 [3JN] H.R. 4824 — A bill to amend the Energy Policy Act of 2005 to require the Secretary of Energy to carry out terrestrial carbon sequestration research and development activities, and for other purposes; to the Committee on Science, Space, and Technology. Text, H2654 [29AP] Rules suspended. Passed House amended, H2712 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Energy and Natural Resources, S3130 [1MY] H.R. 4829 — A bill to amend the Public Health Service Act to provide for the participation of physical therapists in the National Health Service Corps Loan Repayment program, to amend title XVIII of the Social Security Act to expand Medicare Rural Health Clinic Services and Federally Qualified Health Center Services to include physical therapy services, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H582 [13FE], H2130 [29MR], H2701 [29AP], H3535 [28MY] H.R. 4830 — A bill to establish an interactive online dashboard to improve public access to information about grant funding related to mental health and substance use disorder programs; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA] H.R. 4838 — A bill to amend the Specialty Crops Competitiveness Act of 2004 to extend and enhance the specialty crop block grants program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3400 [21MY] H.R. 4840 — A bill to amend the Securities Exchange Act of 1934 to require issuers to make certain disclosures relating to the Xinjiang Uyghur Autonomous Region, and for other purposes; to the Committee on Financial Services. Cosponsors added, H1236 [19MR] H.R. 4842 — A bill to authorize efforts to counter the influence of the People’s Republic of China at the United Nations; to the Committee on Foreign Affairs. Cosponsors added, H273 [29JA] H.R. 4844 — A bill to amend the Child Nutrition Act of 1966 to clarify the availability and appropriateness of training for local food service personnel, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H639 [14FE], H1297 [20MR] H.R. 4845 — A bill to amend the Food and Nutrition Act of 2008 to ensure that striking workers and their households do not become ineligible for benefits under the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H318 [30JA], H544 [9FE], H639 [14FE], H693 [23FE], H739 [28FE], H824 [5MR], H1094 [11MR], H1190 [15MR], H1499 [22MR], H2130 [29MR], H2136 [2AP], H2368 [12AP], H2503 [17AP], H2636 [26AP], H2836 [2MY], H3007 [10MY], H3205 [14MY], H3535 [28MY], H4063 [13JN], H4115 [18JN] H.R. 4848 — A bill to provide for a right of action against Federal employees for violations of First Amendment rights; to the Committee on the Judiciary. Cosponsors added, H109 [11JA], H242 [18JA], H254 [25JA], H366 [31JA], H504 [6FE], H544 [9FE], H582 [13FE], H639 [14FE], H681 [15FE], H781 [1MR], H824 [5MR], H1000 [6MR], H1355 [21MR], H3330 [16MY] H.R. 4851 — A bill to provide for improvements in the implementation of the National Suicide Prevention Lifeline, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Armed Services, Veterans’ Affairs, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2831 [1MY] H.R. 4852 — A bill to require the Commissioner of the Social Security Administration to produce and make available at no cost to certain individuals in the United States an identification for the purpose of allowing such individuals to meet certain identification requirements, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H254 [25JA], H3975 [12JN] H.R. 4856 — A bill to amend the Food, Conservation, and Energy Act of 2008 with respect to the Gus Schumacher Nutrition Incentive Program and the sustainability of such program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H53 [10JA], H774 [29FE], H1297 [20MR] H.R. 4858 — A bill to update the 21st Century Communications and Video Accessibility Act of 2010; to the Committee on Energy and Commerce. Cosponsors added, H433 [5FE], H639 [14FE], H693 [23FE], H824 [5MR], H1236 [19MR], H2121 [26MR], H2253 [9AP], H3526 [23MY] H.R. 4860 — A bill to ensure that residents of covered federally assisted rental housing may lawfully possess firearms, and for other purposes; to the Committee on Financial Services. Cosponsors added, H109 [11JA] H.R. 4864 — A bill to amend the Immigration and Nationality Act to clarify the application of birthright citizenship, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H53 [10JA] H.R. 4866 — A bill to direct the Administrator of the National Oceanic and Atmospheric Administration to establish a program to improve fire weather and fire environment forecasting, detection, and local collaboration, and for other purposes; to the Committee on Science, Space, and Technology. Debated, H2646 [29AP] Text, H2646 [29AP] Rules suspended. Passed House amended, H2687 [29AP] Title amended, H2688 [29AP] Message from the House, S3077 [30AP] Referred to the Committee on Commerce, Science, and Transportation, S3078 [30AP] H.R. 4867 — A bill to amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan; to the Committee on Financial Services. Cosponsors added, H242 [18JA], H273 [29JA], H504 [6FE], H544 [9FE], H774 [29FE], H824 [5MR], H1000 [6MR], H1058 [8MR], H1182 [13MR], H1297 [20MR], H2253 [9AP], H2368 [12AP], H3535 [28MY], H3543 [31MY], H3656 [4JN], H3675 [5JN], H3975 [12JN] H.R. 4873 — A bill to increase the capacity of the food supply chain in the United States, and create a more resilient, diverse, and secure United States food supply chain, by codifying and expanding the Food Supply Chain Guaranteed Loan Program; to the Committee on Agriculture. Cosponsors added, H3583 [3JN], H3681 [7JN] H.R. 4875 — A bill to amend the Immigration and Nationality Act to increase the number of physicians who may be provided Conrad 30 waivers; to the Committee on the Judiciary. Cosponsors added, H2291 [10AP] H.R. 4877 — A bill to amend the Energy Policy Act of 2005 to direct the Secretary of Energy to carry out a research, development, and demonstration program with respect to abandoned wells, and for other purposes; to the Committee on Science, Space, and Technology. Text, H2656 [29AP] Rules suspended. Passed House amended, H2713 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Energy and Natural Resources, S3130 [1MY] H.R. 4878 — A bill to amend title XVIII of the Social Security Act to ensure appropriate supervision requirements for outpatient physical therapy and outpatient occupational therapy; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H273 [29JA], H504 [6FE], H582 [13FE], H639 [14FE], H693 [23FE], H697 [26FE], H824 [5MR], H1000 [6MR], H1236 [19MR] H.R. 4886 — A bill to provide for a study by the National Academies of Sciences, Engineering, and Medicine on the prevalence and mortality of cancer among individuals who served as active duty aircrew in the Armed Forces, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H504 [6FE], H2253 [9AP], H2629 [23AP] H.R. 4889 — A bill to provide for increases in the Federal minimum wage, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H697 [26FE] H.R. 4893 — A bill to amend the America COMPETES Act to establish certain scientific integrity policies for Federal agencies that fund, conduct, or oversee scientific research, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H366 [31JA], H681 [15FE], H1034 [7MR], H1094 [11MR], H1149 [12MR], H1297 [20MR] H.R. 4894 — A bill to amend the Agriculture Improvement Act of 2018 to reauthorize the dairy business innovation initiatives; to the Committee on Agriculture. Cosponsors added, H3000 [8MY] H.R. 4895 — A bill to amend title XI of the Social Security Act to expand the drug price negotiation program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H697 [26FE], H3400 [21MY] H.R. 4896 — A bill to amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Small Business, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H1236 [19MR], H2831 [1MY], H3485 [22MY], H4063 [13JN] H.R. 4897 — A bill to direct the Secretary of Labor to promulgate an occupational safety and health standard to protect workers from heat-related injuries and illnesses; to the Committee on Education and the Workforce. Cosponsors added, H538 [7FE], H1000 [6MR], H1355 [21MR], H2253 [9AP], H2636 [26AP], H2938 [7MY] H.R. 4898 — A bill to establish the Office of Press Freedom, to create press freedom curriculum at the National Foreign Affairs Training Center, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H109 [11JA], H2876 [6MY] H.R. 4899 — A bill to require the Secretary of Housing and Urban Development to discount FHA single-family mortgage insurance premium payments for first-time homebuyers who complete a financial literacy housing counseling program; to the Committee on Financial Services. Cosponsors added, H53 [10JA] H.R. 4902 — A bill to amend the Food Security Act of 1985 to establish a groundwater conservation easement program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H242 [18JA] H.R. 4903 — A bill to amend the Higher Education Act of 1965 to require reporting of certain accidents resulting in serious physical injuries or death at institutions of higher education, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1149 [12MR] H.R. 4905 — A bill to amend the Internal Revenue Code of 1986, the Public Health Service Act, and the Employee Retirement Income Security Act of 1974 to promote group health plan price transparency; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2136 [2AP] H.R. 4906 — A bill to amend titles 38 and 5, United States Code, to ensure that certain employees of the Department of Veterans Affairs are subject to the same removal, demotion, and suspension policies as other employees of the Federal Government, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H739 [28FE] H.R. 4907 — A bill to prohibit owners of covered dwelling units from assessing or collecting certain fees from tenants, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1236 [19MR], H1355 [21MR] H.R. 4911 — A bill to provide for the establishment of a pilot program to provide grants to community mental health centers for the placement of social workers with law enforcement agencies, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1190 [15MR], H3000 [8MY], H3358 [17MY], H3727 [11JN] H.R. 4914 — A bill to provide for research and improvement of cardiovascular health among the South Asian population of the United States, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H582 [13FE] H.R. 4916 — A bill to amend the Inflation Reduction Act of 2022 to repeal restrictions on onshore wind and solar; to the Committee on Natural Resources. Cosponsors added, H1000 [6MR], H1094 [11MR], H2143 [5AP] H.R. 4917 — A bill to amend title XVIII of the Social Security Act to provide no-cost coverage for PFAS testing under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2130 [29MR] H.R. 4919 — A bill to amend the Internal Revenue Code of 1986 to establish a wealth tax, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H1190 [15MR] H.R. 4924 — A bill to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to allow for periodic automatic reenrollment under qualified automatic contribution arrangements, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2522 [18AP] H.R. 4927 — A bill to require ByteDance to divest itself of certain assets, and to require the Committee on Foreign Investment in the United States to review certain business relationships between ByteDance and United States businesses, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR] H.R. 4929 — A bill to require the Secretary of State to submit a report on security threats in Lebanon, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H433 [5FE], H2253 [9AP] H.R. 4931 — A bill to amend the Higher Education Act of 1965 to change certain Federal Pell Grant requirements for certain students with disabilities, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H366 [31JA], H2938 [7MY] H.R. 4933 — A bill to amend the Public Health Service Act to modify the loan repayment program for the substance use disorder treatment workforce to relieve workforce shortages; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H1000 [6MR], H2136 [2AP], H2253 [9AP], H2559 [19AP], H3358 [17MY], H3583 [3JN], H3681 [7JN], H3975 [12JN] H.R. 4936 — A bill to amend the Inflation Reduction Act of 2022 to repeal restrictions on offshore wind leasing; to the Committee on Natural Resources. Cosponsors added, H366 [31JA], H824 [5MR], H1000 [6MR], H2143 [5AP], H3583 [3JN], H3681 [7JN], H4063 [13JN] H.R. 4940 — A bill to amend the Farm Credit Act of 1971 to support the commercial fishing industry; to the Committee on Agriculture. Cosponsors added, H242 [18JA], H3330 [16MY] H.R. 4942 — A bill to provide incentives to physicians to practice in rural and medically underserved communities, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H109 [11JA], H390 [1FE], H544 [9FE], H681 [15FE], H2136 [2AP], H2253 [9AP], H2522 [18AP], H3000 [8MY], H3330 [16MY], H3727 [11JN] H.R. 4949 — A bill to require the Secretary of Commerce to establish a grant program to facilitate the training and employment of veterans for certain conservation activities, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H1094 [11MR], H2253 [9AP] H.R. 4950 — A bill to amend title XIX of the Social Security Act to encourage appropriate prescribing under Medicaid for victims of opioid overdose; to the Committee on Energy and Commerce. Cosponsors added, H582 [13FE] H.R. 4951 — A bill to make technical corrections relating to the Justice Against Sponsors of Terrorism Act; to the Committee on the Judiciary. Cosponsors added, H3531 [24MY], H3543 [31MY] H.R. 4953 — A bill to reduce the health risks of heat by establishing the National Integrated Heat Health Information System within the National Oceanic and Atmospheric Administration and the National Integrated Heat Health Information System Interagency Committee to improve extreme heat preparedness, planning, and response, requiring a study, and establishing financial assistance programs to address heat effects, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2503 [17AP] H.R. 4954 — A bill to expand and improve access to trauma-informed mental health interventions for newly arriving immigrants at the border, to alleviate the stress of and provide education for border agents, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3681 [7JN] H.R. 4955 — A bill to name the community-based outpatient clinic of the Department of Veterans Affairs in Monroeville, Pennsylvania, as the ‘‘Henry Parham VA Clinic’’; to the Committee on Veterans’ Affairs. Cosponsors added, H693 [23FE] H.R. 4958 — A bill to provide first-time, low-level, nonviolent simple possession offenders an opportunity to expunge records of disposition after successful completion of court-imposed probation; to the Committee on the Judiciary. Cosponsors added, H538 [7FE] H.R. 4960 — A bill to establish a Commission to address the pervasive, and targeted epidemic of fatal violence, economic discrimination, and other factors disproportionally impacting members of the transgender community, and to make recommendations to Congress on appropriate remedies; to the Committee on the Judiciary. Cosponsors added, H433 [5FE] H.R. 4961 — A bill to require ports of entry along the northern border to remain open as many hours per day as they were open prior to the COVID-19 pandemic; to the Committee on Homeland Security, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H681 [15FE] H.R. 4963 — A bill to amend the Internal Revenue Code of 1986 to allow workers an above-the-line deduction for union dues and expenses and to allow a miscellaneous itemized deduction for workers for all unreimbursed expenses incurred in the trade or business of being an employee; to the Committee on Ways and Means. Cosponsors added, H318 [30JA], H582 [13FE], H2319 [11AP] H.R. 4966 — A bill to require the Attorney General to report certain revocation and remedial action data with respect to Federal firearm licenses and to require the Comptroller General of the United States to study the effectiveness of the Bureau of Alcohol, Tobacco, Firearms and Explosives in investigating and revoking the licenses; to the Committee on the Judiciary. Cosponsors added, H1236 [19MR], H2771 [30AP], H3583 [3JN], H3657 [4JN] H.R. 4968 — A bill to amend title XVIII of the Social Security Act to exempt qualifying physicians from prior authorization requirements under Medicare Advantage plans, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H639 [14FE], H2938 [7MY] H.R. 4970 — A bill to provide an exclusion from gross income for compensation for expenses and losses resulting from certain wildfires; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H2636 [26AP] H.R. 4971 — A bill to amend title 5, United States Code, to provide that agencies may not deduct labor organization dues from the pay of Federal employees, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H1297 [20MR] H.R. 4972 — A bill to end the use of solitary confinement and other forms of restrictive housing in all Federal agencies and entities they contract with; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H681 [15FE], H739 [28FE], H3727 [11JN] H.R. 4974 — A bill to amend the Communications Act of 1934 to improve the accessibility of 9-8-8, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H133 [12JA], H504 [6FE], H681 [15FE], H739 [28FE], H1182 [13MR], H1355 [21MR], H2831 [1MY], H3485 [22MY], H4063 [13JN], H4110 [14JN], H4115 [18JN] H.R. 4975 — A bill to establish a grant to provide mental and behavioral health services and diversion programs to at-risk youth, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H3485 [22MY] H.R. 4978 — A bill to provide for the protection of agricultural workers, and for other purposes; to the Committee on Agriculture, and in addition to the Committees on Education and the Workforce, Financial Services, Oversight and Accountability, House Administration, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE], H1034 [7MR], H1236 [19MR], H2319 [11AP], H2445 [16AP], H2836 [2MY], H2876 [6MY], H3205 [14MY], H3583 [3JN] H.R. 4979 — A bill to regulate market concentration and competition in the food and agriculture industry, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1236 [19MR], H2836 [2MY] H.R. 4984 — A bill to amend the District of Columbia Stadium Act of 1957 to provide for the transfer of administrative jurisdiction over the Robert F. Kennedy Memorial Stadium Campus to the Administrator of General Services and the leasing of the Campus to the District of Columbia for purposes which include commercial and residential development, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Natural Resources, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H693 [23FE] Reported with amendments from the Committee on Natural Resources (H. Rept. 118–400, part 1), H691 [23FE] Reported with amendment from the Committee on Oversight and Accountability (H. Rept. 118–400, part 2), H691 [23FE] Committee on Transportation and Infrastructure discharged, H691 [23FE] Text, H715 [28FE] Rules suspended. Passed House amended, H732 [28FE] Title amended, H733 [28FE] Message from the House, S1075 [29FE] Referred to the Committee on Energy and Natural Resources, S2210 [5MR] H.R. 4985 — A bill to establish a grant program to support schools of medicine and schools of osteopathic medicine in underserved areas; to the Committee on Energy and Commerce. Cosponsors added, H3975 [12JN] H.R. 4987 — A bill to secure the Federal voting rights of persons when released from incarceration; to the Committee on the Judiciary. Cosponsors added, H2121 [26MR] H.R. 4988 — A bill to amend the Federal Food, Drug, and Cosmetic Act to modernize the methods of authenticating controlled substances in the pharmaceutical distribution supply chain, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H824 [5MR] H.R. 4992 — A bill to amend chapter 44 of title 18, United States Code, to ensure that all firearms are traceable, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H366 [31JA], H3727 [11JN] H.R. 4993 — A bill to amend title 46, United States Code, to include the replacement or purchase of additional cargo handling equipment as an eligible purpose for Capital Construction Funds, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H53 [10JA], H148 [16JA], H273 [29JA], H433 [5FE], H544 [9FE], H3275 [15MY], H3583 [3JN] H.R. 4995 — A bill to prohibit certain activities involving kangaroos and kangaroo products, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2253 [9AP], H2368 [12AP], H3400 [21MY], H3681 [7JN] H.R. 4998 — A bill to provide that the final rule of the Department of Homeland Security entitled ‘‘Inadmissibility on Public Charge Grounds’’ shall have the full force and effect of law, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H544 [9FE], H2831 [1MY] H.R. 4999 — A bill to amend the Elementary and Secondary Education Act of 1965 to require silent alarms in elementary schools and secondary schools, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H273 [29JA], H366 [31JA], H433 [5FE] H.R. 5000 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide funding for school resource officers, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H366 [31JA], H3205 [14MY] H.R. 5003 — A bill to authorize the Secretary of Health and Human Services to build safer, thriving communities, and save lives, by investing in effective community-based violence reduction initiatives, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H189 [17JA], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2399 [15AP], H2503 [17AP], H2522 [18AP], H2623 [20AP], H2701 [29AP], H2771 [30AP], H3400 [21MY], H3526 [23MY], H3583 [3JN], H3727 [11JN], H3975 [12JN], H4064 [13JN], H4110 [14JN] H.R. 5005 — A bill to amend title 18, United States Code, to provide appropriate standards for the inclusion of a term of supervised release after imprisonment, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H109 [11JA] H.R. 5008 — A bill to expand access to health care services for immigrants by removing legal and policy barriers to health insurance coverage, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H739 [28FE], H2368 [12AP], H3583 [3JN] H.R. 5009 — A bill to reauthorize wildlife habitat and conservation programs, and for other purposes; to the Committee on Natural Resources. Reported (H. Rept. 118–366), H314 [30JA] Rules suspended. Passed House, H404 [5FE] Text, H404 [5FE] Message from the House, S420 [6FE] Placed on the calendar, S421 [6FE] H.R. 5012 — A bill to improve research and data collection on stillbirths, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H53 [10JA], H148 [16JA], H189 [17JA], H242 [18JA], H318 [30JA], H504 [6FE], H582 [13FE], H639 [14FE], H688 [20FE], H824 [5MR], H1236 [19MR], H1297 [20MR], H2253 [9AP], H2503 [17AP], H3205 [14MY], H3657 [4JN], H3727 [11JN] H.R. 5013 — A bill to direct the Secretary of Health and Human Services to revise certain regulations in relation to the Medicare shared savings program and other alternative payment arrangements to encourage participation in such program, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1499 [22MR], H3358 [17MY], H3657 [4JN] H.R. 5015 — A bill to amend the Infrastructure Investment and Jobs Act to authorize the Secretary of Agriculture, acting through the Chief of the Forest Service, to enter into contracts, grants, and agreements to carry out certain ecosystem restoration activities, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3975 [12JN] H.R. 5018 — A bill to establish vetting standards for the placement of unaccompanied alien children with sponsors, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2522 [18AP] H.R. 5020 — A bill to prohibit the use of taxpayer dollars to support animal experimentation in the laboratories of adversarial nations; to the Committee on Energy and Commerce. Cosponsors added, H824 [5MR] H.R. 5022 — A bill to place a moratorium on the issuance and renewal of certain Federal authorizations for mountaintop removal coal mining until a health study is conducted, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H697 [26FE] H.R. 5023 — A bill to expand opportunity for agricultural producers, increase consumer choice in food markets, and enhance American international competitiveness by establishing new programs for food innovation, and for other purposes; to the Committee on Agriculture. Cosponsors added, H14 [9JA], H242 [18JA], H254 [25JA], H3727 [11JN] H.R. 5027 — A bill to improve the understanding of, and promote access to treatment for, chronic kidney disease, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE], H2938 [7MY], H3531 [24MY], H4064 [13JN] H.R. 5029 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide that COPS grant funds may be used for local law enforcement recruits to attend schools or academies if the recruits agree to serve in precincts of law enforcement agencies in their communities; to the Committee on the Judiciary. Cosponsors added, H1034 [7MR], H1190 [15MR], H2319 [11AP], H2503 [17AP], H3205 [14MY] H.R. 5030 — A bill to extend the Secure Rural Schools and Community Self-Determination Act of 2000; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H639 [14FE], H681 [15FE], H693 [23FE], H739 [28FE], H1149 [12MR], H1190 [15MR], H1297 [20MR], H2319 [11AP], H2771 [30AP], H2938 [7MY], H3400 [21MY], H3727 [11JN] H.R. 5034 — A bill to designate the facility of the United States Postal Service located at 2119 Market Square in Christiansted, St. Croix, United States Virgin Islands, as the ‘‘Lieutenant General Samuel E. Ebbesen Post Office’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3555 [3JN] Text, H3555 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 5035 — A bill to modify the special rules for Haiti under the Caribbean Basin Economic Recovery Act, to extend preferential duty treatment program for Haiti under that Act, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H366 [31JA], H1094 [11MR], H3681 [7JN] H.R. 5036 — A bill to amend the Internal Revenue Code of 1986 to increase the exclusion for employer-provided dependent care assistance including the limitation on dependent care flexible spending arrangements; to the Committee on Ways and Means. Cosponsors added, H4115 [18JN] H.R. 5037 — A bill to amend the Family and Medical Leave Act of 1993, to repeal certain limits on leave for married individuals employed by the same employer; to the Committee on Education and the Workforce, and in addition to the Committees on House Administration, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR], H2701 [29AP] H.R. 5040 — A bill to amend the Intelligence Reform and Terrorism Prevention Act of 2004 to limit the consideration or marihuana use when making a security clearance or employment suitability determination, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H14 [9JA], H254 [25JA], H3275 [15MY], H3526 [23MY] H.R. 5041 — A bill to amend the Animal Welfare Act to expand and improve the enforcement capabilities of the Attorney General, and for other purposes; to the Committee on Agriculture. Cosponsors added, H133 [12JA], H148 [16JA], H254 [25JA], H433 [5FE], H538 [7FE], H582 [13FE], H681 [15FE], H2143 [5AP], H3000 [8MY], H3727 [11JN] H.R. 5044 — A bill to require the Secretary of Agriculture to carry out certain activities relating to research for wood products, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3526 [23MY] H.R. 5045 — A bill to establish the Chesapeake National Recreation Area as a unit of the National Park System, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H2291 [10AP] H.R. 5048 — A bill to protect our democracy by preventing abuses of Presidential power, restoring checks and balances and accountability and transparency in Government, and defending elections against foreign interference, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on the Judiciary, House Administration, the Budget, Transportation and Infrastructure, Rules, Foreign Affairs, Ways and Means, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H53 [10JA], H109 [11JA], H189 [17JA], H242 [18JA], H247 [22JA], H254 [25JA], H273 [29JA], H504 [6FE], H2771 [30AP], H3007 [10MY], H3727 [11JN], H3975 [12JN], H4110 [14JN], H4115 [18JN] H.R. 5049 — A bill to provide for the long-term improvement of public school facilities, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H1149 [12MR], H2253 [9AP], H3657 [4JN], H3675 [5JN], H3727 [11JN], H4110 [14JN] H.R. 5055 — A bill to rename the Office of Technology Assessment as the Congressional Office of Technology, to revise the functions and duties of the Office, and for other purposes; to the Committee on House Administration. Cosponsors added, H2399 [15AP] H.R. 5057 — A bill to require the Secretary of Agriculture to carry out a program to provide payments to producers experiencing certain crop losses as a result of a disaster; to the Committee on Agriculture. Cosponsors added, H774 [29FE], H1000 [6MR] H.R. 5061 — A bill to amend the Specialty Crops Competitiveness Act of 2004 to direct the Secretary of Agriculture to establish a program under which the Secretary will award grants to eligible organizations to encourage the development, maintenance, and expansion of commercial domestic market for domestically produced specialty crop commodities; to the Committee on Agriculture. Cosponsors added, H2522 [18AP], H2701 [29AP] H.R. 5062 — A bill to amend the Agricultural Marketing Act of 1946 to direct the Secretary of Agriculture to establish a program under which the Secretary will award grants to specialty crop producers to acquire certain equipment and provide training with respect to the use of such equipment; to the Committee on Agriculture. Cosponsors added, H390 [1FE], H2522 [18AP], H2701 [29AP] H.R. 5064 — A bill to establish a grant program to provide amounts to public housing agencies to install automatic sprinkler systems in public housing, and for other purposes; to the Committee on Financial Services. Cosponsors added, H53 [10JA], H318 [30JA], H583 [13FE], H739 [28FE], H1094 [11MR] H.R. 5066 — A bill to amend the Public Health Service Act to authorize grants to evaluate, develop, and expand the use of technology-enabled collaborative learning and capacity building models to improve maternal health outcomes, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H318 [30JA], H2319 [11AP] H.R. 5071 — A bill to amend title 10, United States Code, to authorize the Secretary of the Air Force to designate certain separated members of the Air Force as honorary separated members of the Space Force; to the Committee on Armed Services. Cosponsors added, H254 [25JA], H2629 [23AP] H.R. 5074 — A bill to amend the American Taxpayer Relief Act of 2012 to delay implementation of the inclusion of oral-only ESRD-related drugs in the Medicare ESRD prospective payment system; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H1297 [20MR] Reported with amendment (H. Rept. 118–548, part 1), H3724 [11JN] H.R. 5075 — A bill to direct the Federal Energy Regulatory Commission to prohibit covered utilities from recovering covered expenses from ratepayers, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA], H433 [5FE], H538 [7FE] H.R. 5076 — A bill to clarify that, in awarding funding under title X of the Public Health Service Act, the Secretary of Health and Human Services may not discriminate against eligible States, individuals, or other entities for refusing to counsel or refer for abortions; to the Committee on Energy and Commerce. Cosponsors added, H774 [29FE] H.R. 5077 — A bill to establish the National Artificial Intelligence Research Resource, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H254 [25JA], H433 [5FE], H544 [9FE], H824 [5MR], H1058 [8MR], H1094 [11MR], H1190 [15MR], H1236 [19MR], H2503 [17AP], H2629 [23AP], H3485 [22MY], H3727 [11JN] H.R. 5080 — A bill to amend the Internal Revenue Code of 1986 to exclude certain Nurse Corps payments from gross income; to the Committee on Ways and Means. Cosponsors added, H254 [25JA], H433 [5FE], H3205 [14MY] H.R. 5082 — A bill to amend title 18, United States Code, to strengthen reporting to the CyberTipline related to online sexual exploitation of children, to modernize liabilities for such reports, to preserve the contents of such reports for 1 year, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H694 [23FE], H1297 [20MR] H.R. 5084 — A bill to designate the facility of the United States Postal Service located at 1106 Main Street in Bastrop, Texas, as the ‘‘Sergeant Major Billy D. Waugh Post Office’’; to the Committee on Oversight and Accountability. Cosponsors added, H318 [30JA], H538 [7FE], H774 [29FE], H824 [5MR], H1236 [19MR], H2368 [12AP], H2636 [26AP], H3275 [15MY] H.R. 5085 — A bill to amend the Federal Insecticide, Fungicide, and Rodenticide Act to fully protect the safety of children and the environment, to remove dangerous pesticides from use, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2559 [19AP], H3535 [28MY] H.R. 5086 — A bill to amend the Food and Nutrition Act of 2008 to exclude from income, for the purpose of determining eligibility and benefits, increased income received from cost of living adjustments made under titles II and XVI of the Social Security Act, section 3(a)(1) of the Railroad Retirement Act of 1974 (45 U.S.C. 231b(a)(1)), or section 5312 of title 38 of the United States Code, and income received from supplementary payments received under section 1616 of the Social Security Act; to the Committee on Agriculture. Cosponsors added, H2121 [26MR] H.R. 5087 — A bill to require the Secretary of Agriculture to submit a report to Congress on Department of Agriculture spending related to seafood purchases and grants, and for other purposes; to the Committee on Agriculture. Cosponsors added, H318 [30JA] H.R. 5094 — A bill to amend the Food and Nutrition Act of 2008 to allow for blended workforces to carry out the supplemental nutrition assistance program under certain conditions, and for other purposes; to the Committee on Agriculture. Removal of cosponsors, H3331 [16MY] H.R. 5096 — A bill to amend the Animal Health Protection Act to provide compensation for poultry growers and layers in control areas, and for other purposes; to the Committee on Agriculture. Cosponsors added, H433 [5FE] H.R. 5097 — A bill to amend the Food, Agriculture, Conservation, and Trade Act of 1990 to direct the Secretary of Agriculture to establish research centers of excellence for alternative protein innovation, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H739 [28FE], H774 [29FE], H3657 [4JN] H.R. 5099 — A bill to amend the Food and Nutrition Act of 2008 to establish a dairy nutrition incentive program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H583 [13FE], H1149 [12MR], H2121 [26MR], H2319 [11AP], H2831 [1MY], H2938 [7MY], H3727 [11JN] H.R. 5103 — A bill to require the Director of the Office of Management and Budget to approve or deny spend plans within a certain amount of time, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H14 [9JA], H2503 [17AP], H2623 [20AP], H2771 [30AP], H3583 [3JN], H3681 [7JN], H3727 [11JN] H.R. 5104 — A bill to amend the National Dam Safety Program Act to reauthorize that Act, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H53 [10JA], H2559 [19AP], H2701 [29AP] H.R. 5112 — A bill to direct the Secretary of Defense to establish procedures for the review and reinvestigation of certain allegations of civilian harm that resulted from United States military operations, and for other purposes; to the Committee on Armed Services. Cosponsors added, H504 [6FE] H.R. 5113 — A bill to amend the Federal Crop Insurance Reform and Department of Agriculture Reorganization Act of 1994 to establish a budgetary Tribal Government consultation process at the Department of Agriculture, and for other purposes; to the Committee on Agriculture, and in addition to the Committees on Transportation and Infrastructure, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H774 [29FE], H3007 [10MY], H3526 [23MY] H.R. 5116 — A bill to amend the Public Health Service Act to extend health information technology assistance eligibility to behavioral health, mental health, and substance abuse professionals and facilities, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H318 [30JA], H681 [15FE] H.R. 5124 — A bill to amend title 18, United States Code, to increase the length of the post-employment ban on lobbying by certain former senior executive branch personnel from one year to 2 years; to the Committee on the Judiciary. Cosponsors added, H189 [17JA] H.R. 5127 — A bill to reduce appointment wait times for certain nonimmigrant visas known as visitor visas, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H739 [28FE] H.R. 5131 — A bill to require the Secretary of the Treasury to mint coins in recognition of the bicentennial of the Erie Canal; to the Committee on Financial Services. Cosponsors added, H2319 [11AP] H.R. 5134 — A bill to amend the Farm Security and Rural Investment Act of 2002 to improve the biobased markets program, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA], H504 [6FE], H538 [7FE], H1000 [6MR], H1190 [15MR], H2253 [9AP], H3000 [8MY] H.R. 5136 — A bill to address infrastructure needs for food banks serving rural communities, and for other purposes; to the Committee on Agriculture. Cosponsors added, H694 [23FE], H3543 [31MY] H.R. 5138 — A bill to amend title XVIII of the Social Security Act to count a period of receipt of outpatient observation services in a hospital toward satisfying the 3-day inpatient hospital stay requirement for coverage of skilled nursing facility services under Medicare, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H583 [13FE], H824 [5MR], H1236 [19MR], H2130 [29MR] H.R. 5140 — A bill to amend the Public Health Service Act to improve the health and well-being of maltreated infants and toddlers through the implementation of infant-toddler court teams within States, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H639 [14FE], H3526 [23MY] H.R. 5141 — A bill to authorize funding for section 619 and part C of the Individuals with Disabilities Education Act; to the Committee on Education and the Workforce. Cosponsors added, H148 [16JA], H273 [29JA], H366 [31JA], H1236 [19MR], H2253 [9AP], H2319 [11AP], H2938 [7MY], H3000 [8MY], H3007 [10MY] H.R. 5142 — A bill to amend the Public Health Service Act to make updates to the Vaccine Injury Compensation Program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1355 [21MR], H2291 [10AP], H3675 [5JN] H.R. 5143 — A bill to amend the Internal Revenue Code of 1986 to provide authority to add additional vaccines to the list of taxable vaccines; to the Committee on Ways and Means. Cosponsors added, H1355 [21MR] H.R. 5145 — A bill to extend immigration benefits to survivors of domestic violence, sexual assault, human trafficking, and other gender-based violence, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Ways and Means, Agriculture, Education and the Workforce, Energy and Commerce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H694 [23FE], H824 [5MR], H2253 [9AP], H2522 [18AP] H.R. 5147 — A bill to amend the Small Business Act to increase certain goal for participation in Federal contracts by small business concerns owned and controlled by service-disabled veterans, to exclude such self-certified concerns from governmentwide and Federal agency goals, and for other purposes; to the Committee on Small Business. Cosponsors added, H2136 [2AP] H.R. 5150 — A bill to direct the Secretary of Defense to submit to Congress a report evaluating beneficiary access to TRICARE network pharmacies; to the Committee on Armed Services. Cosponsors added, H2130 [29MR] H.R. 5155 — A bill to establish a new nonimmigrant category for alien relatives of United States citizens and lawful permanent residents seeking to enter the United States temporarily for family purposes, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H433 [5FE], H2876 [6MY], H3681 [7JN] H.R. 5159 — A bill to amend title XVIII of the Social Security Act to ensure stability in payments to home health agencies under the Medicare program; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H739 [28FE], H2319 [11AP], H3526 [23MY] H.R. 5163 — A bill to amend the Controlled Substances Act to allow for the use of telehealth in substance use disorder treatment, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H390 [1FE], H433 [5FE], H583 [13FE], H697 [26FE], H824 [5MR], H1094 [11MR], H1236 [19MR], H2121 [26MR], H3000 [8MY], H3975 [12JN], H4110 [14JN] H.R. 5167 — A bill to amend title 18, United States Code, to prohibit discrimination by abortion against an unborn child on the basis of Turner syndrome; to the Committee on the Judiciary. Cosponsors added, H189 [17JA] H.R. 5169 — A bill to amend title 5, United States Code, to provide for special base rates of pay for wildland firefighters, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Natural Resources, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP] H.R. 5175 — A bill to direct the Administrator of the Federal Emergency Management Agency to establish a pilot grant program for mobile pet shelters during emergencies and major disasters; to the Committee on Transportation and Infrastructure. Cosponsors added, H3583 [3JN], H3657 [4JN], H4110 [14JN] H.R. 5182 — A bill to modernize online child protection laws; to the Committee on the Judiciary. Cosponsors added, H254 [25JA], H538 [7FE], H544 [9FE], H639 [14FE], H824 [5MR], H1034 [7MR], H1236 [19MR] H.R. 5183 — A bill to amend title XVIII of the Social Security Act to provide for coverage of cancer care planning and coordination under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3675 [5JN] H.R. 5184 — A bill to amend the Elementary and Secondary Education Act of 1965 to strengthen school security; to the Committee on Education and the Workforce. Cosponsors added, H189 [17JA] H.R. 5186 — A bill to amend the Food Security Act of 1985 to reauthorize the voluntary public access and habitat incentive program; to the Committee on Agriculture. Cosponsors added, H318 [30JA], H1149 [12MR], H2559 [19AP] H.R. 5193 — A bill to amend title II of the Social Security Act to repeal the retirement earnings test, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H694 [23FE] H.R. 5195 — A bill to repeal the District of Columbia Home Rule Act; to the Committee on Oversight and Accountability, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2121 [26MR] H.R. 5196 — A bill to expand protections under the Exceptional Family Member Program of the Department of Defense for transgender dependents of members of the Armed Forces, and for other purposes; to the Committee on Armed Services. Cosponsors added, H639 [14FE] H.R. 5198 — A bill to amend the definition of ‘‘manufactured home’’ in the National Manufactured Housing Construction and Safety Standards Act of 1974; to the Committee on Financial Services. Cosponsors added, H366 [31JA], H824 [5MR] H.R. 5199 — A bill to amend the Agricultural Research, Extension, and Education Reform Act of 1998 to reauthorize the Specialty Crop Research Initiative, and for other purposes; to the Committee on Agriculture. Cosponsors added, H433 [5FE], H3400 [21MY] H.R. 5202 — A bill to reauthorize the Virginia Graeme Baker Pool and Spa Safety Act, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H109 [11JA] Reported with amendment (H. Rept. 118–448), H2140 [5AP] H.R. 5203 — A bill to establish in the Department of Agriculture an Office of Agritourism, and for other purposes; to the Committee on Agriculture. Cosponsors added, H254 [25JA] H.R. 5208 — A bill to amend the Internal Revenue Code of 1986 to clarify the treatment of locum tenens physicians and advanced care practitioners as independent contractors to help alleviate physician shortages, including in underserved areas; to the Committee on Ways and Means. Cosponsors added, H2253 [9AP], H2291 [10AP] H.R. 5212 — A bill to amend the Federal Fire Prevention and Control Act of 1974 to make available under the assistance to firefighters grant program the establishment of cancer prevention programs, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H254 [25JA], H824 [5MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H2253 [9AP], H2771 [30AP], H3330 [16MY] H.R. 5213 — A bill to ensure that prior authorization medical decisions under Medicare are determined by physicians; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H781 [1MR] H.R. 5216 — A bill to direct restoration and protection efforts of the 5-State Connecticut River Watershed region, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H583 [13FE] H.R. 5220 — A bill to direct the Postmaster General to issue a forever stamp depicting Bayard Rustin, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H688 [20FE], H697 [26FE], H2121 [26MR], H2143 [5AP], H2629 [23AP], H4110 [14JN] H.R. 5221 — A bill to amend the McKinney-Vento Homeless Assistance Act to meet the needs of homeless children, youth, and families, and honor the assessments and priorities of local communities; to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1355 [21MR], H2399 [15AP], H3727 [11JN] H.R. 5224 — A bill to reauthorize the Missing Children’s Assistance Act, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H390 [1FE], H504 [6FE], H583 [13FE] H.R. 5239 — A bill to prohibit the issuance of an interim or final rule that establishes a vessel slowdown zone in the Gulf of Mexico until the Secretary of Commerce completes a study demonstrating that proposed mitigation efforts would have no negative impact on supply chains, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H681 [15FE] H.R. 5242 — A bill to amend the Rural Electrification Act of 1936 to reform broadband permitting, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2445 [16AP] H.R. 5244 — A bill to amend the Atomic Energy Act of 1954 to include fusion energy machines, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA] H.R. 5245 — A bill to amend the State Department Basic Authorities Act of 1956 to require certain congressional notification prior to entering into, renewing, or extending a science and technology agreement with the People’s Republic of China, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H1236 [19MR] H.R. 5246 — A bill to amend the Food, Conservation, and Energy Act of 2008 to reauthorize the Farm and Ranch Stress Assistance Network and establish a national agricultural crisis hotline, and for other purposes; to the Committee on Agriculture. Cosponsors added, H318 [30JA] H.R. 5247 — A bill to amend title 38, United States Code, to improve the authority of the Secretary of Veterans Affairs to hire psychiatrists; to the Committee on Veterans’ Affairs. Cosponsors added, H1094 [11MR], H1499 [22MR], H2291 [10AP], H2771 [30AP], H2876 [6MY], H3275 [15MY] H.R. 5248 — A bill to halt removal of certain nationals of Cambodia, Laos, and Vietnam, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H824 [5MR], H1297 [20MR], H2143 [5AP], H2253 [9AP], H3205 [14MY], H3400 [21MY], H3675 [5JN] H.R. 5249 — A bill to amend the William M. (Mac) Thornberry National Defense Authorization Act for fiscal year 2021 to include the Coast Guard Academy in the safe-to-report minor collateral misconduct policy of the Armed Forces; to the Committee on Armed Services. Cosponsors added, H366 [31JA] H.R. 5250 — A bill to amend the Agricultural Credit Act of 1978 with respect to the emergency watershed program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2771 [30AP] H.R. 5251 — A bill to amend the Internal Revenue Code of 1986 to allow a deduction for investment advisory expenses of certain funeral and cemetery trusts during suspension of miscellaneous itemized deductions, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H583 [13FE], H739 [28FE], H1297 [20MR] H.R. 5254 — A bill to address the homelessness and housing crises, to move toward the goal of providing for a home for all Americans, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on the Judiciary, Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H544 [9FE], H688 [20FE], H1000 [6MR], H1034 [7MR], H2143 [5AP], H2701 [29AP] H.R. 5256 — A bill to amend title XVIII of the Social Security Act to provide payment under part A of the Medicare Program on a reasonable cost basis for anesthesia services furnished by an anesthesiologist in certain rural hospitals in the same manner as payments are provided for anesthesia services furnished by anesthesiologist assistants and certified registered nurse anesthetists in such hospitals, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H538 [7FE], H544 [9FE], H639 [14FE], H694 [23FE], H739 [28FE], H781 [1MR], H824 [5MR], H1355 [21MR], H3205 [14MY], H3330 [16MY], H3681 [7JN] H.R. 5263 — A bill to direct the Secretary of Defense to ensure that removal and remedial actions relating to PFAS contamination result in levels meeting or exceeding certain standards, and for other purposes; to the Committee on Armed Services, and in addition to the Committees on Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H189 [17JA] H.R. 5265 — A bill to amend the Small Business Act to require a report on the performance of the Office of Rural Affairs, to require a report on the memorandum of understanding between the Small Business Administration and the Department of Agriculture entered into on April 4, 2018, and for other purposes; to the Committee on Small Business. Rules suspended. Passed House amended, H724 [28FE] Text, H724 [28FE] Message from the House, S1075 [29FE] Referred to the Committee on Small Business and Entrepreneurship, S1075 [29FE] H.R. 5266 — A bill to require the Director of the Bureau of Prisons to develop and implement a strategy to interdict fentanyl and other synthetic drugs in the mail at Federal correctional facilities; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H189 [17JA], H254 [25JA], H273 [29JA], H318 [30JA], H366 [31JA], H504 [6FE], H544 [9FE], H583 [13FE], H688 [20FE], H694 [23FE], H739 [28FE], H781 [1MR], H824 [5MR], H1000 [6MR], H1094 [11MR], H2130 [29MR], H2445 [16AP], H3000 [8MY], H3275 [15MY], H3358 [17MY], H3531 [24MY], H3583 [3JN] H.R. 5267 — A bill to prohibit Federal funds from being awarded or otherwise made available to the Fulton County District Attorney’s Office; to the Committee on the Judiciary. Cosponsors added, H148 [16JA], H254 [25JA], H3975 [12JN], H4064 [13JN] H.R. 5275 — A bill to amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test; to the Committee on Ways and Means. Cosponsors added, H109 [11JA], H242 [18JA], H254 [25JA], H688 [20FE], H1058 [8MR], H3485 [22MY] H.R. 5281 — A bill to require the Secretary of the Interior to prohibit the use of lead ammunition on United States Fish and Wildlife Service lands, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H583 [13FE], H1182 [13MR], H2876 [6MY] H.R. 5284 — A bill to amend the Consolidated Farm and Rural Development Act to extend and enhance the Rural Microentrepreneur Assistance Program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3675 [5JN] H.R. 5285 — A bill to amend title 40, United States Code, to clarify that the regulations prescribed by the Capitol Police Board to carry out the law prohibiting the possession of firearms in the United States Capitol Buildings and on the United States Capitol Grounds must take into account the exemption provided under such law for Members, officers, and employees of Congress; to the Committee on Transportation and Infrastructure. Cosponsors added, H14 [9JA] H.R. 5290 — A bill to require the inclusion of voter registration information with certain leases and vouchers for federally assisted rental housing and mortgage applications, and for other purposes; to the Committee on Financial Services. Cosponsors added, H273 [29JA], H504 [6FE], H681 [15FE], H1094 [11MR], H2130 [29MR], H2319 [11AP] H.R. 5291 — A bill to amend the Help America Vote Act of 2002 to ensure that voters in elections for Federal office do not wait in long lines in order to vote, and for other purposes; to the Committee on House Administration. Cosponsors added, H273 [29JA], H681 [15FE], H1094 [11MR], H1499 [22MR], H2130 [29MR], H2399 [15AP] H.R. 5292 — A bill to establish a democracy advancement and innovation program, and for other purposes; to the Committee on House Administration. Cosponsors added, H273 [29JA], H504 [6FE], H681 [15FE], H1094 [11MR], H1499 [22MR], H2130 [29MR], H3727 [11JN] H.R. 5293 — A bill to expand youth access to voting, and for other purposes; to the Committee on House Administration, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H504 [6FE], H681 [15FE], H1094 [11MR], H1499 [22MR], H2130 [29MR], H2399 [15AP] H.R. 5294 — A bill to remove barriers to the ability of unhoused individuals to register to vote and vote in elections for Federal office, and for other purposes; to the Committee on House Administration, and in addition to the Committees on Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H504 [6FE], H681 [15FE], H774 [29FE], H1094 [11MR], H1236 [19MR], H1499 [22MR], H2130 [29MR], H2399 [15AP] H.R. 5295 — A bill to modify certain notice requirements, to study certain election requirements, to clarify certain election requirements, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H504 [6FE], H681 [15FE], H774 [29FE], H1094 [11MR], H2130 [29MR], H2253 [9AP], H3543 [31MY], H3727 [11JN] H.R. 5296 — A bill to amend the Consolidated Farm and Rural Development Act to reform farm loans, to amend the Department of Agriculture Reorganization Act of 1994 to reform the National Appeals Division process, and for other purposes; to the Committee on Agriculture. Cosponsors added, H694 [23FE], H2368 [12AP], H3007 [10MY] H.R. 5299 — A bill to amend title XVIII of the Social Security Act to establish a demonstration program for international coverage under the Medicare program; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE] H.R. 5301 — A bill to amend title 31, United States Code, to require agencies to include a list of outdated or duplicative reporting requirements in annual budget justifications, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA] H.R. 5302 — A bill to designate the Air and Marine Operations Marine Unit of the U.S. Customs and Border Protection located at 101 Km 18.5 in Cabo Rojo, Puerto Rico, as the ‘‘Michel O. Maceda Marine Unit’’; to the Committee on Homeland Security, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H254 [25JA], H318 [30JA], H2253 [9AP] Reported from the Committee on Homeland Security (H. Rept. 118–542, part 1), H3678 [7JN] Committee on Ways and Means discharged, H3679 [7JN] H.R. 5305 — A bill to designate the facility of the United States Postal Service located at 1157 West Mission Avenue in Escondido, California, as the ‘‘Captain E. Royce Williams Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H254 [25JA], H2143 [5AP] H.R. 5315 — A bill to authorize the Secretary of Agriculture to guarantee investments that will open new markets for forest owners in rural areas of the United States, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2701 [29AP], H3330 [16MY] H.R. 5316 — A bill to amend section 412 of the Federal Food, Drug, and Cosmetic Act to enhance the safeguards applicable with respect to infant formula; to the Committee on Energy and Commerce. Cosponsors added, H694 [23FE], H3485 [22MY], H3535 [28MY] H.R. 5322 — A bill to provide employees with a minimum of two consecutive hours of paid leave in order to vote in Federal elections; to the Committee on Education and the Workforce. Cosponsors added, H2130 [29MR], H2319 [11AP], H2522 [18AP] H.R. 5324 — A bill to make available necessary disaster assistance for families affected by major disasters, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3000 [8MY] H.R. 5333 — A bill to amend the Small Business Investment Act of 1958 to exclude from the limit on leverage certain amounts invested in smaller enterprises located in rural or low-income areas and small businesses in critical technology areas, and for other purposes; to the Committee on Small Business. Cosponsors added, H14 [9JA], H109 [11JA], H366 [31JA], H2253 [9AP], H2623 [20AP] Reported with amendment (H. Rept. 118–469), H2634 [26AP] Rules suspended. Passed House amended, H2639 [29AP] Text, H2640 [29AP] Message from the House, S3077 [30AP] Referred to the Committee on Small Business and Entrepreneurship, S3078 [30AP] H.R. 5342 — A bill to amend title II of the Social Security Act to replace the windfall elimination provision with a formula equalizing benefits for certain individuals with noncovered employment, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H694 [23FE], H1190 [15MR], H2445 [16AP], H2876 [6MY], H3330 [16MY] H.R. 5344 — A bill to require the Secretary of Agriculture to establish a grant program to address forestry workforce development needs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H583 [13FE], H2629 [23AP] H.R. 5351 — A bill to repeal the authority under the National Labor Relations Act for States to enact laws prohibiting agreements requiring membership in a labor organization as a condition of employment, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H109 [11JA] H.R. 5353 — A bill to provide for a period of continuing appropriations in the event of a lapse in appropriations under the normal appropriations process, and to prohibit consideration of other matters in the House of Representatives if appropriations are not enacted; to the Committee on Appropriations, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H739 [28FE] H.R. 5355 — A bill to require the Administrator of the Federal Aviation Administration to submit to Congress progress reports on the development and implementation of a national plan to transition to the use of a fluorine-free firefighting foam, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H2629 [23AP] H.R. 5357 — A bill to amend the Internal Revenue Code of 1986 to increase the deduction for certain expenses of elementary and secondary school teachers; to the Committee on Ways and Means. Cosponsors added, H273 [29JA], H366 [31JA], H3400 [21MY] H.R. 5359 — A bill to harmonize the population threshold for rural communities under programs carried out by the Department of Agriculture, and for other purposes; to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, Natural Resources, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H544 [9FE], H583 [13FE], H781 [1MR], H2629 [23AP] H.R. 5360 — A bill to amend the Medicare Improvements for Patients and Providers Act of 2008 to extend funding outreach and assistance for low-income programs; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA] H.R. 5361 — A bill to amend the Small Business Act to improve the women’s business center program, and for other purposes; to the Committee on Small Business. Cosponsors added, H739 [28FE], H1034 [7MR], H2130 [29MR], H2253 [9AP] H.R. 5362 — A bill to amend the Food and Nutrition Act of 2008 to enhance the operation of the employment and training program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H504 [6FE], H824 [5MR] H.R. 5363 — A bill to award posthumously a Congressional Gold Medal to Robert Cleckler (‘‘Bobby’’) Bowden, in honor of his achievements both on and off the football field; to the Committee on Financial Services. Cosponsors added, H583 [13FE] H.R. 5364 — A bill to require the installation of fences and barriers to protect old growth trees in the Joyce Kilmer-Slickrock Wilderness Area; to the Committee on Agriculture. Cosponsors added, H3358 [17MY] H.R. 5367 — A bill to amend the Small Business Act to make improvements to the Small Business Development Center Program, and for other purposes; to the Committee on Small Business. Cosponsors added, H583 [13FE] H.R. 5374 — A bill to provide for export approvals for high-performance computers to India; to the Committee on Foreign Affairs. Cosponsors added, H254 [25JA] H.R. 5375 — A bill to require a strategy for bolstering engagement and cooperation between the United States, Australia, India, and Japan and to seek to establish a Quad Intra-Parliamentary Working Group to facilitate closer cooperation on shared interests and values; to the Committee on Foreign Affairs. Text, H610 [14FE] Rules suspended. Passed House amended, H662 [15FE] Message from the House, S983 [26FE] Referred to the Committee on Foreign Relations, S983 [26FE] H.R. 5376 — A bill to amend title XVIII of the Social Security Act to ensure appropriate cost-sharing for chronic care drugs under Medicare part D; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA] H.R. 5383 — A bill to amend the Child Nutrition Act of 1966 to allow certain participants in the special supplemental nutrition program for women, infants, and children to elect to be issued a variety of types of milk, including whole milk, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2253 [9AP] H.R. 5390 — A bill to direct the Secretary of Commerce to conduct a study on the feasibility of manufacturing in the United States products for critical infrastructure sectors, and for other purposes; to the Committee on Energy and Commerce. Reported (H. Rept. 118–499), H3003 [10MY] Rules suspended. Passed House, H3034 [14MY] Text, H3034 [14MY] Message from the House, S3709 [15MY] Referred to the Committee on Commerce, Science, and Transportation, S3709 [15MY] H.R. 5397 — A bill to amend title XVIII of the Social Security Act to provide coverage of external infusion pumps and non-self-administrable home infusion drugs under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2136 [2AP], H2938 [7MY], H3330 [16MY], H3526 [23MY], H3531 [24MY] H.R. 5399 — A bill to substantially restrict the use of animal testing for cosmetics, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H189 [17JA], H254 [25JA], H390 [1FE], H583 [13FE], H639 [14FE], H2130 [29MR], H2143 [5AP], H2445 [16AP], H2938 [7MY], H4064 [13JN] H.R. 5400 — A bill to amend title XVIII of the Social Security Act to assure pharmacy access and choice for Medicare beneficiaries; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H781 [1MR], H2503 [17AP], H3400 [21MY] H.R. 5401 — A bill to provide a one-time grant for the operation, security, and maintenance of the National September 11 Memorial & Museum at the World Trade Center to commemorate the events, and honor the victims, of the terrorist attacks of September 11, 2001, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H53 [10JA], H247 [22JA] H.R. 5402 — A bill to amend the Fair Labor Standards Act of 1938 and the Portal-to-Portal Act of 1947 to prevent wage theft and assist in the recovery of stolen wages, to authorize the Secretary of Labor to administer grants to prevent wage and hour violations, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H3485 [22MY] H.R. 5403 — A bill to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes; to the Committee on Financial Services. Cosponsors added, H433 [5FE], H504 [6FE], H544 [9FE], H583 [13FE], H639 [14FE], H694 [23FE], H697 [26FE], H739 [28FE], H774 [29FE], H781 [1MR], H824 [5MR], H1094 [11MR], H1149 [12MR], H1190 [15MR], H1236 [19MR], H1355 [21MR], H1499 [22MR], H2121 [26MR], H2130 [29MR], H2136 [2AP], H2253 [9AP], H2629 [23AP], H2636 [26AP], H2701 [29AP], H2771 [30AP], H2831 [1MY], H2836 [2MY], H2876 [6MY], H2938 [7MY] Reported with amendment (H. Rept. 118–493), H2935 [7MY] Providing for consideration (H. Res. 1243), H3396 [21MY] Debated, H3496 [23MY] Text, H3503 [23MY] Amendments, H3504, H3505, H3506 [23MY] Passed House amended, H3509 [23MY] Message from the House, S3929 [3JN] Referred to the Committee on Banking, Housing, and Urban Affairs, S3929 [3JN] H.R. 5405 — A bill to ensure that a fair percentage of Federal cancer research funds are dedicated to pediatric cancer research; to the Committee on Energy and Commerce. Cosponsors added, H2136 [2AP] H.R. 5406 — A bill to require the Secretary of Health and Human Services to establish a clearinghouse of ZIP-code based information to expecting mothers, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H697 [26FE], H774 [29FE] H.R. 5408 — A bill to amend title XVI of the Social Security Act to update the resource limit for supplemental security income eligibility; to the Committee on Ways and Means. Cosponsors added, H53 [10JA], H390 [1FE], H504 [6FE], H684 [16FE], H2130 [29MR], H2143 [5AP], H2253 [9AP], H2623 [20AP], H2938 [7MY], H3727 [11JN] H.R. 5414 — A bill to authorize the Secretary of Health and Human Services, acting through the Director of the Center for Mental Health Services of the Substance Abuse and Mental Health Services Administration, to award grants to implement innovative approaches to securing prompt access to appropriate follow-on care for individuals who experience an acute mental health episode and present for care in an emergency department, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2938 [7MY], H3000 [8MY], H3330 [16MY], H3485 [22MY], H3657 [4JN] H.R. 5419 — A bill to amend the Fair Labor Standards Act of 1938 to clarify the definition of employee as it relates to direct sellers and real estate agents, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H366 [31JA], H1236 [19MR], H2522 [18AP], H3000 [8MY], H3205 [14MY], H3275 [15MY], H3657 [4JN], H4064 [13JN] H.R. 5420 — A bill to require the Secretary of Labor to issue guidance and regulations regarding opioid overdose reversal medication and employee training; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H433 [5FE], H697 [26FE], H1094 [11MR], H3330 [16MY], H3543 [31MY], H3583 [3JN], H3657 [4JN], H4064 [13JN] H.R. 5426 — A bill to require the Administrator of the Small Business Administration to provide a link to resources for submitting reports on suspected fraud relating to certain COVID-19 loans; to the Committee on Small Business. Text, H726 [28FE] Message from the House, S2210 [5MR] Referred to the Committee on Small Business and Entrepreneurship, S2210 [5MR] H.R. 5432 — A bill to create a short form tax return to simplify the return process for certain taxpayers living abroad, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3485 [22MY] H.R. 5433 — A bill to increase child care options for working families and support child care providers; to the Committee on Appropriations. Cosponsors added, H189 [17JA], H247 [22JA], H390 [1FE], H681 [15FE], H1182 [13MR], H3727 [11JN] H.R. 5435 — A bill to prevent a person who has been convicted of a misdemeanor hate crime, or received an enhanced sentence for a misdemeanor because of hate or bias in its commission, from obtaining a firearm; to the Committee on the Judiciary. Cosponsors added, H2291 [10AP], H2629 [23AP], H3727 [11JN] H.R. 5437 — A bill to ensure the rural surface transportation grant program is accessible to rural areas, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H3007 [10MY], H3400 [21MY] H.R. 5441 — A bill to reauthorize Long Island Sound programs, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP], H2445 [16AP] H.R. 5443 — A bill to establish a policy regarding appraisal and valuation services for real property for a transaction over which the Secretary of the Interior has jurisdiction, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H639 [14FE], H697 [26FE], H781 [1MR], H1094 [11MR], H1236 [19MR], H2143 [5AP], H2623 [20AP], H2636 [26AP] H.R. 5449 — A bill to amend title 18, United States Code, to make fraudulent dealings in firearms and ammunition unlawful, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA] H.R. 5450 — A bill to amend the Small Business Act to modify the application of price evaluation preference for qualified HUBZone small business concerns to certain contracts, and for other purposes; to the Committee on Small Business. Reported with amendment (H. Rept. 118–381), H579 [13FE] H.R. 5455 — A bill to clarify certain regulations to allow for the installation of pulsating light systems for high-mounted stop lamps, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H681 [15FE], H781 [1MR], H1058 [8MR], H2522 [18AP], H3275 [15MY], H3485 [22MY], H4110 [14JN] H.R. 5456 — A bill to amend the Internal Revenue Code of 1986 to end the tax subsidy for employer efforts to influence their workers’ exercise of their rights around labor organizations and engaging in collective action; to the Committee on Ways and Means. Cosponsors added, H247 [22JA], H273 [29JA], H318 [30JA], H433 [5FE], H583 [13FE], H739 [28FE], H1297 [20MR] H.R. 5457 — A bill to support carbon dioxide removal research and development, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committees on Agriculture, Natural Resources, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2636 [26AP], H2831 [1MY] H.R. 5459 — A bill to amend the Food, Agriculture, Conservation, and Trade Act of 1990 to include as a high-priority research and extension initiative research and extension on precision agriculture workforce development, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3007 [10MY] H.R. 5463 — A bill to expand arts education, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H739 [28FE], H4064 [13JN] H.R. 5467 — A bill to prohibit the sale of a firearm unless the firearm or packaging carries a label that provides the number of the National Suicide Prevention Lifeline; to the Committee on Energy and Commerce. Cosponsors added, H2143 [5AP] H.R. 5470 — A bill to extend temporary authority regarding license portability for certain practitioners to be able to practice across State borders, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H774 [29FE] H.R. 5475 — A bill to amend title 35, United State Code, to require the Director of the United States Patent and Trademark Office to require disclosures in patent applications regarding ties to the People’s Republic of China and other foreign adversaries, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H254 [25JA] H.R. 5476 — A bill to designate the facility of the United States Postal Service located at 1077 River Road, Suite 1, in Washington Crossing, Pennsylvania, as the ‘‘Susan C. Barnhart Post Office’’; to the Committee on Oversight and Accountability. Cosponsors added, H14 [9JA] Rules suspended. Passed House, H3552 [3JN] Text, H3552 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 5477 — A bill to provide lawful permanent resident status for certain advanced STEM degree holders, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H390 [1FE], H2291 [10AP], H2319 [11AP], H2771 [30AP] H.R. 5478 — A bill to amend the Higher Education Act of 1965 to establish the Honorable Augustus F. Hawkins Centers of Excellence, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1149 [12MR] H.R. 5480 — A bill to restore protections for Social Security, Railroad retirement, and Black Lung benefits from administrative offset; to the Committee on the Judiciary, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3485 [22MY] H.R. 5484 — A bill to strengthen and expand the Green Ribbon Schools Program at the Department of Education by boosting the capacity of participating States to expand the number of engaged schools, applicants, and nominees, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2831 [1MY] H.R. 5486 — A bill to protect and expand access to pasteurized, donor human milk, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1182 [13MR], H3531 [24MY] H.R. 5487 — A bill to require the Secretary of Commerce to establish and carry out a grant program to conserve, restore, and manage kelp forest ecosystems, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H504 [6FE] H.R. 5488 — A bill to amend chapter 111 of title 28, United States Code, to increase transparency and oversight of third-party funding by foreign persons, to prohibit third-party funding by foreign states and sovereign wealth funds, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1058 [8MR], H2503 [17AP], H2876 [6MY], H3205 [14MY], H3275 [15MY], H3330 [16MY], H3400 [21MY], H3535 [28MY], H3657 [4JN], H3727 [11JN], H3975 [12JN], H4064 [13JN], H4110 [14JN] H.R. 5490 — A bill to amend the Coastal Barrier Resources Act to expand the John H. Chafee Coastal Barrier Resources System, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H3543 [31MY] H.R. 5491 — A bill to establish due process requirements for the investigation of intercollegiate athletics, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H254 [25JA] H.R. 5492 — A bill to improve the reproductive assistance provided by the Department of Defense and the Department of Veterans Affairs to certain members of the Armed Forces, veterans, and their spouses or partners, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR], H1190 [15MR], H1297 [20MR], H2130 [29MR], H4110 [14JN] H.R. 5496 — A bill to reduce greenhouse gas emissions and protect the climate; to the Committee on Energy and Commerce. Cosponsors added, H824 [5MR] H.R. 5500 — A bill to amend the Food Security Act of 1985 to require the Secretary of Agriculture to establish an initiative to support peer learning relating to a wide range of agriculture conservation activities, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2701 [29AP] H.R. 5501 — A bill to amend section 1591 of title 18, United States Code, to raise the mandatory minimum of years of imprisonment for engaging in the trafficking of any persons under the age of 18; to the Committee on the Judiciary. Cosponsors added, H53 [10JA], H2623 [20AP] H.R. 5502 — A bill to amend the Fair Labor Standards Act of 1938 to prohibit employers from paying employees in the garment industry by piece rate, to require manufacturers and contractors in the garment industry to register with the Department of Labor, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1499 [22MR], H2876 [6MY], H3583 [3JN], H3975 [12JN] H.R. 5506 — A bill to amend titles XVIII and XIX of the Social Security Act and title 10, United States Code, to provide no-cost coverage for the preventive distribution of opioid overdose reversal drugs; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H318 [30JA], H2938 [7MY] H.R. 5507 — A bill to prohibit the use of Federal funds to establish a Disinformation Governance Board; to the Committee on Homeland Security. Cosponsors added, H1236 [19MR] H.R. 5509 — A bill to modernize permitting systems at the Department of the Interior, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H3000 [8MY] H.R. 5511 — A bill to provide subsidized summer and year-round employment for youth who face systemic barriers to employment and viable career options and to assist local community partnerships in improving high school graduation and youth employment rates, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H273 [29JA], H2503 [17AP] H.R. 5513 — A bill to amend the Fair Labor Standards Act of 1938 and the National Labor Relations Act to clarify the standard for determining whether an individual is an employee, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H254 [25JA], H1355 [21MR] H.R. 5517 — A bill to reauthorize programs of the Economic Development Administration, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H1355 [21MR] H.R. 5518 — A bill to amend title XVIII of the Social Security Act to require individuals the choice to opt in to enrollment in employer group waiver plans under Medicare Advantage; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H538 [7FE] H.R. 5520 — A bill to amend the Public Health Service Act to authorize the Secretary of Health and Human Services, acting through the Deputy Assistant Secretary for Minority Health, to award grants to faith- or community-based organizations to address persistent health inequities and chronic disease challenges; to the Committee on Energy and Commerce. Cosponsors added, H2319 [11AP] H.R. 5526 — A bill to amend title XVIII of the Social Security Act to clarify the application of the in-office ancillary services exception to the physician self-referral prohibition for drugs furnished under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H190 [17JA], H242 [18JA], H247 [22JA], H254 [25JA], H273 [29JA], H694 [23FE], H1355 [21MR], H2319 [11AP], H2636 [26AP], H3205 [14MY], H3275 [15MY], H3485 [22MY], H3526 [23MY], H3727 [11JN] H.R. 5527 — A bill to amend section 1078 of the National Defense Authorization Act for fiscal year 2018 to increase the effectiveness of the Technology Modernization Fund, and for other purposes; to the Committee on Oversight and Accountability. Reported with amendment (H. Rept. 118–397), H691 [23FE] Rules suspended. Passed House amended, H3364 [21MY] Text, H3364 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3849 [22MY] H.R. 5528 — A bill to evaluate the impact of the lowest price technically acceptable source selection process on national security, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H14 [9JA] Text, H257 [29JA] Rules suspended. Passed House amended, H265 [29JA] Message from the House, S286 [30JA] Referred to the Committee on Homeland Security and Governmental Affairs, S287 [30JA] H.R. 5530 — A bill to provide for certain limitations to the authority of the Secretary of Veterans Affairs to make changes to the Department of Veterans Affairs rate of payment or reimbursement provided for transportation of veterans and other eligible individuals on special modes of transportation, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H53 [10JA], H190 [17JA], H273 [29JA], H318 [30JA], H433 [5FE], H504 [6FE], H639 [14FE], H681 [15FE], H739 [28FE], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2701 [29AP], H2938 [7MY], H3205 [14MY], H3330 [16MY], H3485 [22MY], H3727 [11JN] H.R. 5531 — A bill to prohibit the use of United States contributions to the United Nations to support the iVerify tool developed by the United Nations Development Programme, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H504 [6FE], H583 [13FE], H688 [20FE], H3205 [14MY], H3275 [15MY] H.R. 5532 — A bill to provide for the imposition of sanctions with respect to North Korea’s support for Russia’s illegal war in Ukraine; to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Ways and Means, Financial Services, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H739 [28FE], H1034 [7MR] H.R. 5535 — A bill to prohibit the Federal Insurance Office of the Department of the Treasury and other financial regulators from collecting data directly from an insurance company; to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H697 [26FE], H739 [28FE], H2399 [15AP], H2445 [16AP], H2559 [19AP], H3681 [7JN] H.R. 5538 — A bill to amend title 5 of the United States Code to provide special overtime pay for certain border patrol agents, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H1034 [7MR] H.R. 5539 — A bill to amend title XI of the Social Security Act to expand and clarify the exclusion for orphan drugs under the Drug Price Negotiation Program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3727 [11JN] H.R. 5545 — A bill to authorize an Action Plan for United States foreign assistance to developing countries to increase access to sustainable safe water, sanitation, and hygiene in healthcare facilities, promote stronger health systems and sustainable health infrastructure, build capacity of health workers, and promote the safety of health workers and patients, especially women and girls, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H433 [5FE], H2253 [9AP], H2445 [16AP], H3526 [23MY] H.R. 5547 — A bill to amend title XI of the Social Security Act to protect access to genetically targeted technologies; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H694 [23FE], H781 [1MR], H1236 [19MR], H1355 [21MR], H2291 [10AP], H2831 [1MY], H3275 [15MY], H3526 [23MY], H4110 [14JN] H.R. 5553 — A bill to extend Federal recognition to the Patawomeck Indian Tribe of Virginia, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H390 [1FE] H.R. 5555 — A bill to direct the Secretary of Health and Human Services to provide for certain adjustments to Medicare payment for items of durable medical equipment that were formerly included in round 2021 of the DMEPOS competitive bidding program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H109 [11JA], H318 [30JA], H390 [1FE], H824 [5MR], H1149 [12MR], H3275 [15MY], H3330 [16MY] H.R. 5559 — A bill to amend title 38, United States Code, to establish certain rules of evidence in certain claims under laws administered by the Secretary of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, H681 [15FE] H.R. 5561 — A bill to prohibit the President and the Secretary of Health and Human Services from declaring certain emergencies or disasters for the purpose of imposing gun control; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H2771 [30AP] H.R. 5562 — A bill to amend the Higher Education Act of 1965 to provide formula grants to States to improve higher education opportunities for foster youth and homeless youth, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H2876 [6MY] H.R. 5563 — A bill to permit employees to request changes to their work schedules without fear of retaliation and to ensure that employers consider these requests, and to require employers to provide more predictable and stable schedules for employees in certain occupations with evidence of unpredictable and unstable scheduling practices that negatively affect employees, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on House Administration, Oversight and Accountability, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H242 [18JA], H366 [31JA], H504 [6FE] H.R. 5564 — A bill to amend the Internal Revenue Code of 1986 to establish an excise tax on plastics; to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Natural Resources, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1034 [7MR], H3205 [14MY] H.R. 5566 — A bill to amend title 28, United States Code, to provide for the duration of active service of justices of the Supreme Court, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H109 [11JA], H242 [18JA], H504 [6FE], H739 [28FE], H774 [29FE], H1000 [6MR], H1034 [7MR], H1297 [20MR], H2130 [29MR], H2291 [10AP] H.R. 5568 — A bill to improve Federal efforts with respect to the prevention of maternal mortality, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE], H824 [5MR], H2319 [11AP], H2399 [15AP], H2876 [6MY], H2938 [7MY], H3275 [15MY] H.R. 5569 — A bill to amend the Richard B. Russell National School Lunch Act with respect to reimbursements under the child and adult care food program, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1236 [19MR] H.R. 5572 — A bill to amend the National and Community Service Act of 1990 to establish a Civilian Climate Corps to help communities respond to climate change and transition to a clean economy, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H824 [5MR], H1058 [8MR], H1149 [12MR], H1236 [19MR], H2319 [11AP] H.R. 5576 — A bill to empower independent music creator owners to collectively negotiate with dominant online platforms regarding the terms on which their music may be distributed; to the Committee on the Judiciary. Cosponsors added, H3583 [3JN] H.R. 5577 — A bill to amend title 18, United States Code, to repeal prohibitions relating to freedom of access to clinic entrances, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H433 [5FE], H544 [9FE], H1236 [19MR], H2831 [1MY], H3400 [21MY], H3485 [22MY], H4064 [13JN] H.R. 5580 — A bill to amend the Internal Revenue Code of 1986 to exclude certain discharges of indebtedness secured by real property from income; to the Committee on Ways and Means. Cosponsors added, H1000 [6MR], H3275 [15MY] H.R. 5581 — A bill to amend the Social Security Act to authorize grants for demonstration projects to support mothers and families during pregnancy, childbirth, and the postpartum period by increasing access to short-term child care, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H2130 [29MR] H.R. 5585 — A bill to impose criminal and immigration penalties for intentionally fleeing a pursuing Federal officer while operating a motor vehicle; to the Committee on the Judiciary. Cosponsors added, H247 [22JA], H254 [25JA] Reported with amendment (H. Rept. 118–359), H251 [25JA] Providing for consideration (H. Res. 980), H270 [29JA] Debated, H289 [30JA] Text, H294 [30JA] Amendments, H295, H296 [30JA] Passed House amended, H298 [30JA] Message from the House, S307 [31JA] Referred to the Committee on the Judiciary, S307 [31JA] H.R. 5589 — A bill to provide fresh produce to individuals facing food and nutrition insecurity, and for other purposes; to the Committee on Agriculture. Cosponsors added, H697 [26FE] H.R. 5599 — A bill to establish the Federal Emergency Management Agency as a cabinet-level independent agency, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP] H.R. 5601 — A bill to decriminalize and deschedule cannabis, to provide for reinvestment in certain persons adversely impacted by the War on Drugs, to provide for expungement of certain cannabis offenses, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Energy and Commerce, Agriculture, Education and the Workforce, Ways and Means, Small Business, Natural Resources, Oversight and Accountability, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H739 [28FE], H824 [5MR], H2876 [6MY], H3358 [17MY] H.R. 5603 — A bill to direct the Secretary of Education to award grants to local educational agencies to establish or improve world language or dual language programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H774 [29FE], H2253 [9AP], H2445 [16AP], H2876 [6MY] H.R. 5604 — A bill to require original equipment manufacturers to make available certain documentation, parts, software, and tools with respect to electronics-enabled implements of agriculture, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA], H318 [30JA], H1236 [19MR], H2636 [26AP] H.R. 5608 — A bill to allow individuals to elect to receive contributions to a health savings account in lieu of reduced cost-sharing under health insurance obtained through a health insurance Exchange; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H190 [17JA], H254 [25JA], H3727 [11JN] H.R. 5610 — A bill to establish the Commission on Equity and Reconciliation in the Uniformed Services; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1499 [22MR] H.R. 5611 — A bill to amend title XVIII of the Social Security Act to provide for permanent payments for telehealth services furnished by Federally qualified health centers and rural health clinics under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H433 [5FE], H697 [26FE], H739 [28FE], H824 [5MR], H1058 [8MR], H1236 [19MR], H4110 [14JN] H.R. 5614 — A bill to extend duty-free treatment provided with respect to imports from Haiti under the Caribbean Basin Economic Recovery Act; to the Committee on Ways and Means. Cosponsors added, H1058 [8MR], H3526 [23MY], H3681 [7JN] H.R. 5616 — A bill to require the Secretary of the Interior to conduct certain offshore lease sales; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–405), H819 [5MR] H.R. 5619 — A bill to amend the Richard B. Russell National School Lunch Act to exclude certain military housing allowances from the calculation of household income, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2130 [29MR] H.R. 5623 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to authorize the President to provide substance use and alcohol use disorder services, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H639 [14FE] H.R. 5624 — A bill to require Federal, State, and local law enforcement agencies to report information related to allegations of misconduct of law enforcement officers to the Attorney General, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H133 [12JA], H3975 [12JN] H.R. 5625 — A bill to establish education partnership programs between public schools and public health agencies to prevent the misuse and overdose of synthetic opioids by youth, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR], H2876 [6MY], H3681 [7JN] H.R. 5628 — A bill to direct the Federal Trade Commission to require impact assessments of automated decision systems and augmented critical decision processes, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2938 [7MY] H.R. 5631 — A bill to amend the Consolidated Farm and Rural Development Act to modify limitations on amounts of farm ownership loans and operating loans, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2253 [9AP], H3275 [15MY] H.R. 5633 — A bill to direct the Secretary of Veterans Affairs to conduct a review of the deaths of certain veterans who died by suicide, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H318 [30JA], H1094 [11MR] H.R. 5636 — A bill to amend chapter 110 of title 18, United States Code, to prohibit gender affirming care on minors; to the Committee on the Judiciary. Cosponsors added, H390 [1FE], H2253 [9AP] H.R. 5640 — A bill to designate the facility of the United States Postal Service located at 12804 Chillicothe Road in Chesterland, Ohio, as the ‘‘Sgt. Wolfgang Kyle Weninger Post Office Building’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3553 [3JN] Text, H3553 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 5641 — A bill to make continuing appropriations for military pay in the event of a Government shutdown; to the Committee on Appropriations. Cosponsors added, H254 [25JA], H774 [29FE] H.R. 5644 — A bill to address the increased burden that maintaining the health and hygiene of infants and toddlers, medically complex children, and low-income adults or adults with disabilities who rely on adult incontinence materials and supplies place on families in need, the resultant adverse health effects on children and families, and the limited child care options available for infants and toddlers who lack sufficient diapers and diapering supplies, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H190 [17JA], H504 [6FE], H583 [13FE], H824 [5MR], H1034 [7MR], H2130 [29MR], H2319 [11AP], H2522 [18AP], H3000 [8MY], H3007 [10MY], H3727 [11JN] H.R. 5646 — A bill to amend the Higher Education Act of 1965 to require institutions of higher education to disclose hazing incidents, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE], H1034 [7MR], H1499 [22MR], H2368 [12AP], H2522 [18AP], H3000 [8MY], H3526 [23MY] H.R. 5652 — A bill to amend the 21st Century Cures Act to require funds to be set aside for opioid reversal agent administration training in schools, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H148 [16JA] H.R. 5658 — A bill to amend title 39, United States Code, to require mail-in ballots to use the Postal Service barcode service, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H190 [17JA], H1236 [19MR] H.R. 5663 — A bill to amend title XVIII of the Social Security Act to provide coverage of ALS-related services under the Medicare program for individuals diagnosed with amyotrophic lateral sclerosis, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H688 [20FE], H694 [23FE], H2938 [7MY] H.R. 5668 — A bill to provide appropriations for the Food and Nutrition Act of 2008 during the first lapse in appropriations in a fiscal year; to the Committee on Appropriations. Cosponsors added, H739 [28FE] H.R. 5669 — A bill to provide that employees of tribally controlled schools are eligible to receive a pension under the Federal Employees Retirement System and to participate in the Thrift Savings Plan, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H53 [10JA], H109 [11JA], H1297 [20MR], H2399 [15AP], H3675 [5JN], H3727 [11JN] H.R. 5673 — A bill to advance responsible policies; to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Veterans’ Affairs, Oversight and Accountability, Intelligence (Permanent Select), Foreign Affairs, Education and the Workforce, Small Business, the Judiciary, Natural Resources, House Administration, Energy and Commerce, Homeland Security, Science, Space, and Technology, Appropriations, Rules, Ethics, Transportation and Infrastructure, and the Budget , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Amendments, H1150 [12MR] H.R. 5683 — A bill to protect and provide humanitarian assistance to Armenians in Armenia and Nagorno-Karabakh impacted by actions taken by the Government of Azerbaijan, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H254 [25JA], H583 [13FE], H697 [26FE], H1236 [19MR] H.R. 5685 — A bill to prevent harassment at institutions of higher education, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H639 [14FE], H739 [28FE], H4110 [14JN] H.R. 5686 — A bill to prevent ethnic cleansing and atrocities against ethnic Armenians, promote accountability for the same, protect and provide humanitarian assistance to Armenians in Armenia and Nagorno-Karabakh impacted by actions taken by the Government of Azerbaijan, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2623 [20AP], H3205 [14MY] H.R. 5687 — A bill to amend the Internal Revenue Code of 1986 to modernize health savings accounts; to the Committee on Ways and Means. Reported with amendment (H. Rept. 118–387), H580 [13FE] H.R. 5688 — A bill to amend the Internal Revenue Code of 1986 to improve health savings accounts; to the Committee on Ways and Means. Reported with amendment (H. Rept. 118–401), H695 [26FE] H.R. 5691 — A bill to improve drought related disaster assistance programs of the Department of Agriculture, and for other purposes; to the Committee on Agriculture. Cosponsors added, H688 [20FE], H781 [1MR] H.R. 5694 — A bill making appropriations for the salaries and expenses of certain U.S. Customs and Border Protection employees working during a Government shutdown in fiscal year 2024, and for other purposes; to the Committee on Appropriations. Cosponsors added, H697 [26FE], H774 [29FE], H1058 [8MR] H.R. 5699 — A bill to provide programs to assist diagnosis, awareness, and education of blood clot conditions, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1149 [12MR] H.R. 5702 — A bill to amend title 38, United States Code, to establish the monthly housing stipend under the Post-9/11 Educational Assistance Program for individuals who pursue summer programs of education solely through distance learning; to the Committee on Veterans’ Affairs. Cosponsors added, H433 [5FE] H.R. 5707 — A bill to amend the Internal Revenue Code of 1986 to exclude debt held by certain insurance companies from capital assets; to the Committee on Ways and Means. Cosponsors added, H1236 [19MR], H2636 [26AP], H3330 [16MY], H4064 [13JN] H.R. 5709 — A bill to amend the Internal Revenue Code of 1986 to allow individuals entitled to Medicare Part A to make contributions to health savings accounts; to the Committee on Ways and Means. Cosponsors added, H583 [13FE] H.R. 5710 — A bill to provide for the refinancing and recalculation of certain Federal student loans, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA] H.R. 5712 — A bill to designate the facility of the United States Postal Service located at 220 Fremont Street in Kiel, Wisconsin, as the ‘‘Trooper Trevor J. Casper Post Office Building’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3561 [3JN] Text, H3561 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 5713 — A bill to amend the Controlled Substances Act to authorize Homeland Security Investigations to perform certain drug enforcement functions, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on the Judiciary, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2319 [11AP], H2701 [29AP], H3007 [10MY] H.R. 5717 — A bill to provide that sanctuary jurisdictions that provide benefits to aliens who are present in the United States without lawful status under the immigration laws are ineligible for Federal funds intended to benefit such aliens; to the Committee on the Judiciary. Cosponsors added, H254 [25JA], H433 [5FE], H583 [13FE], H639 [14FE], H688 [20FE], H694 [23FE], H739 [28FE], H774 [29FE], H1094 [11MR], H2629 [23AP] H.R. 5720 — A bill to assist trafficking survivors who lack government issued identification in accessing air travel, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H739 [28FE] H.R. 5725 — A bill to amend title 5, United States Code, to provide for the halt in pension payments for Members of Congress sentenced for certain offenses, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H697 [26FE] H.R. 5728 — A bill to direct the Congressional Budget Office to submit daily reports during the period in which a Government shutdown is in effect on the effects of the shutdown on the economy and the costs of the shutdown to taxpayers, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H583 [13FE], H739 [28FE], H774 [29FE], H824 [5MR], H2771 [30AP] H.R. 5739 — A bill to require the Federal financial regulators to issue guidance encouraging financial institutions to work with consumers and businesses affected by a Federal Government shutdown, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H433 [5FE] H.R. 5740 — A bill to amend the Higher Education Act of 1965 to promote comprehensive campus mental health and suicide prevention plans, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H544 [9FE], H3583 [3JN] H.R. 5741 — A bill to prohibit certain Federal agencies from requiring certain institutions to include assets held in custody as a liability, and for other purposes; to the Committee on Financial Services. Cosponsors added, H697 [26FE], H4064 [13JN] H.R. 5744 — A bill to create a Carbon Dividend Trust Fund for the American people in order to encourage market-driven innovation of clean energy technologies and market efficiencies which will reduce harmful pollution and leave a healthier, more stable, and more prosperous Nation for future generations; to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2143 [5AP], H2368 [12AP], H2629 [23AP], H3400 [21MY], H3485 [22MY], H4064 [13JN] H.R. 5748 — A bill to promote and ensure delivery of high-quality special education and related services to children and youth who are blind or visually impaired, deaf, hard of hearing, deafdisabled, or deafblind through instructional methodologies meeting their unique language and learning needs, to enhance accountability for the provision of such services, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1094 [11MR], H1297 [20MR], H2291 [10AP], H2771 [30AP] H.R. 5749 — A bill to amend the Public Health Service Act with regard to research on asthma, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H694 [23FE], H3000 [8MY] H.R. 5754 — A bill to designate the United States courthouse located at 350 W. 1st Street, Los Angeles, California, as the ‘‘Felicitas and Gonzalo Mendez United States Courthouse’’; to the Committee on Transportation and Infrastructure. Cosponsors added, H53 [10JA], H254 [25JA], H273 [29JA], H318 [30JA], H390 [1FE], H688 [20FE] Reported (H. Rept. 118–503), H3201 [14MY] Rules suspended. Passed House amended, H3383 [21MY] Text, H3383 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on Environment and Public Works, S3849 [22MY] H.R. 5756 — A bill to amend the Water Resources Development Act of 2020 to permit the sale of technologies to certain water and irrigation districts to expedite the removal of harmful algal blooms, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H2559 [19AP] H.R. 5757 — A bill to amend the Child Nutrition Act of 1966 to extend certain certification periods for the special supplemental nutrition program for women, infants, and children, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H694 [23FE], H774 [29FE], H1094 [11MR], H1297 [20MR], H2291 [10AP], H3657 [4JN], H4115 [18JN] H.R. 5761 — A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to qualified opportunity zones, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H1058 [8MR], H1236 [19MR], H3485 [22MY], H4064 [13JN] H.R. 5762 — A bill to direct the Secretary of Health and Human Services to research and design a graphic symbol to indicate when linguistic access materials and services are available for a health program, product, or service, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE], H697 [26FE], H1355 [21MR], H3727 [11JN] H.R. 5763 — A bill to establish as a permanent program the organic market development grant program of the Department of Agriculture; to the Committee on Agriculture. Cosponsors added, H1149 [12MR] H.R. 5766 — A bill to increase the rate of duty applicable to certain ferrosilicon produced in the Russian Federation or the Republic of Belarus and to require a domestic production assessment before increasing rates of duty applicable to products of the Russian Federation and the Republic of Belarus under the Suspending Normal Trade Relations with Russia and Belarus Act, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H1190 [15MR] H.R. 5767 — A bill to prohibit any State that suspends open or concealed firearm carry licenses from receiving Federal financial assistance; to the Committee on Oversight and Accountability. Cosponsors added, H109 [11JA] H.R. 5770 — A bill to reauthorize certain United States Geological Survey water data enhancement programs; to the Committee on Natural Resources. Cosponsors added, H2319 [11AP] H.R. 5773 — A bill to amend the Public Health Service Act to remove certain liability protections for certain biological products and other drugs if the sponsor thereof fails to disclose to the public all non-exempt data within the biological product file or drug application, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA] H.R. 5776 — A bill to establish a pilot program providing certain individuals with a guaranteed monthly income, to study the effect of a guaranteed monthly income on such individuals, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H53 [10JA], H4064 [13JN] H.R. 5778 — A bill to require large social media platform providers to create, maintain, and make available to third-party safety software providers a set of real-time application programming interfaces, through which a child or a parent or legal guardian of a child may delegate permission to a third-party safety software provider to manage the online interactions, content, and account settings of such child on the large social media platform on the same terms as such child, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H273 [29JA], H318 [30JA], H694 [23FE], H2445 [16AP], H2623 [20AP], H3007 [10MY], H3400 [21MY], H3485 [22MY], H3727 [11JN] H.R. 5779 — A bill to establish a commission on fiscal responsibility and reform; to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H2130 [29MR] H.R. 5784 — A bill to establish a Green New Deal for public schools; to the Committee on Education and the Workforce. Cosponsors added, H390 [1FE] H.R. 5785 — A bill to amend title 38, United States Code, to modify the requirements of the Edith Nourse Rogers STEM Scholarship; to the Committee on Veterans’ Affairs. Cosponsors added, H1034 [7MR], H1297 [20MR], H2143 [5AP], H2253 [9AP], H3000 [8MY] H.R. 5786 — A bill to establish in the National Nuclear Security Administration a Cybersecurity Risk Inventory, Assessment, and Mitigation Working Group; to the Committee on Armed Services. Cosponsors added, H2629 [23AP] H.R. 5789 — A bill to authorize funding for the creation and implementation of infant mortality pilot programs in standard metropolitan statistical areas with high rates of infant mortality, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H824 [5MR], H1034 [7MR] H.R. 5790 — A bill to provide for the establishment of a task force to identify trade barriers to United States agricultural exports and carry out other related duties; to the Committee on Ways and Means. Cosponsors added, H1190 [15MR] H.R. 5793 — A bill to appropriate $500 million to the low-income household water assistance program under section 2912 of the American Rescue Plan Act of 2021, and for other purposes; to the Committee on Appropriations. Cosponsors added, H824 [5MR], H2130 [29MR] H.R. 5796 — A bill to prohibit the Secretary of Health and Human Services from finalizing a proposed rule regarding minimum staffing for nursing facilities, and to establish an advisory panel on the nursing home workforce; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H254 [25JA], H583 [13FE], H697 [26FE], H781 [1MR] H.R. 5798 — A bill to restore the right to negotiate matters pertaining to the discipline of law enforcement officers of the District of Columbia through collective bargaining, to restore the statute of limitations for bringing disciplinary cases against members or civilian employees of the Metropolitan Police Department of the District of Columbia, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H694 [23FE], H781 [1MR], H824 [5MR], H1094 [11MR], H3007 [10MY] H.R. 5799 — A bill to designate the checkpoint of the United States Border Patrol located on United States Highway 90 West in Uvalde County, Texas, as the ‘‘James R. Dominguez Border Patrol Checkpoint’’; to the Committee on Transportation and Infrastructure. Cosponsors added, H53 [10JA], H190 [17JA], H254 [25JA], H433 [5FE], H583 [13FE], H739 [28FE], H2130 [29MR], H2253 [9AP] Rules suspended. Passed House, H3386 [21MY] Text, H3386 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3849 [22MY] H.R. 5800 — A bill to authorize the imposition of sanctions to combat the mass abduction of Ukrainian children to Russia and areas of Ukraine that are temporarily occupied by Russian forces, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1236 [19MR] H.R. 5801 — A bill to ensure that expenses relating to the acquisition or use of devices for use in the detection of fentanyl, xylazine, and other emerging adulterant substances, including test strips, are allowable expenses under certain grant programs; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE] H.R. 5804 — A bill to authorize the Secretary of Health and Human Services to make loans and loan guarantees for planning, constructing, or renovating pediatric or adult mental health treatment facilities and pediatric or adult substance use disorder treatment facilities, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE], H3007 [10MY] H.R. 5806 — A bill to amend title 18, United States Code, to prohibit chemical abortions, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H583 [13FE], H2253 [9AP], H2701 [29AP], H2771 [30AP] H.R. 5808 — A bill to establish the Task Force on Artificial Intelligence in the Financial Services Sector to report to Congress on issues related to artificial intelligence in the financial services sector, and for other purposes; to the Committee on Financial Services. Cosponsors added, H433 [5FE], H824 [5MR], H2771 [30AP], H3583 [3JN] H.R. 5810 — A bill to provide back pay to Federal contractors, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H190 [17JA], H681 [15FE] H.R. 5813 — A bill to establish uniform accessibility standards for websites and applications of employers, employment agencies, labor organizations, joint labor-management committees, public entities, public accommodations, testing entities, and commercial providers, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H247 [22JA], H273 [29JA], H390 [1FE], H433 [5FE], H583 [13FE], H681 [15FE], H824 [5MR], H1094 [11MR], H1149 [12MR], H1236 [19MR], H2143 [5AP], H2831 [1MY], H3400 [21MY], H3485 [22MY], H3727 [11JN] H.R. 5815 — A bill to amend the Head Start Act to expand and improve participation in Head Start programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA] H.R. 5816 — A bill to establish an Office of Eviction Prevention in the Department of Housing and Urban Development and to authorize funding for the Eviction Protection Grant Program of such Department, and for other purposes; to the Committee on Financial Services. Cosponsors added, H2876 [6MY] H.R. 5818 — A bill to amend title XVIII of the Social Security Act to expand coverage of the in-home administration of intravenous immune globulin under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2445 [16AP], H2876 [6MY] H.R. 5819 — A bill to amend title XVIII of the Social Security Act to provide incentives for behavioral health integration under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H247 [22JA], H318 [30JA], H681 [15FE], H1034 [7MR], H1182 [13MR], H2291 [10AP], H2522 [18AP], H3531 [24MY], H3727 [11JN] H.R. 5820 — A bill to amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property; to the Committee on Ways and Means. Cosponsors added, H318 [30JA], H366 [31JA], H2368 [12AP], H2445 [16AP] H.R. 5822 — A bill to designate Indigenous Peoples’ Day as a legal public holiday and replace the term ‘‘Columbus Day’’ with the term ‘‘Indigenous Peoples’ Day’’, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H273 [29JA], H583 [13FE] H.R. 5825 — A bill to amend the Public Works and Economic Development Act of 1965 to require eligible recipients of certain grants to develop a comprehensive economic development strategy that directly or indirectly increases the accessibility of affordable, quality care-based services, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H504 [6FE], H774 [29FE], H1034 [7MR], H3583 [3JN] H.R. 5826 — A bill to require a report on sanctions under the Robert Levinson Hostage Recovery and Hostage-Taking Accountability Act, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H2399 [15AP] Text, H2423 [16AP] Rules suspended. Passed House amended, H2434 [16AP] Message from the House, S2824 [17AP] Referred to the Committee on Foreign Relations, S2824 [17AP] H.R. 5827 — A bill to promote the establishment of resident organizations and provide additional amounts for tenant organizations, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1000 [6MR], H1149 [12MR], H1236 [19MR], H2368 [12AP] H.R. 5829 — A bill to amend title II of the Public Health Service Act to provide clarity with respect to coverage of claims against health care practitioners providing health professional volunteer services at community health centers during declared emergencies; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE], H583 [13FE], H681 [15FE], H684 [16FE], H694 [23FE], H774 [29FE], H824 [5MR], H1000 [6MR], H1094 [11MR] H.R. 5830 — A bill to prohibit commercial DNA testing services from disclosing the genetic information of United States nationals to foreign entities, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3330 [16MY], H3358 [17MY], H3675 [5JN] H.R. 5834 — A bill to amend the Public Health Service Act to reauthorize Johanna’s Law, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1297 [20MR], H1499 [22MR], H2253 [9AP], H3000 [8MY], H3007 [10MY] H.R. 5837 — A bill to provide additional requirements for the purchase and sale of conventional mortgages by the enterprises, and for other purposes; to the Committee on Financial Services. Cosponsors added, H681 [15FE], H2121 [26MR], H2399 [15AP], H3205 [14MY], H3400 [21MY] H.R. 5838 — A bill to improve immigration adjudicatory capacity, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA] H.R. 5839 — A bill to require the Secretary of Homeland Security to assess technology needs along the maritime border and develop a strategy to address such needs, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H318 [30JA], H2522 [18AP], H2559 [19AP] H.R. 5840 — A bill to require the Transportation Security Administration to streamline the enrollment processes for individuals applying for a Transportation Security Administration security threat assessment for certain programs, including the Transportation Worker Identification Credential and Hazardous Materials Endorsement Threat Assessment programs of the Administration, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H53 [10JA], H109 [11JA], H190 [17JA], H504 [6FE], H684 [16FE], H694 [23FE], H1034 [7MR], H1094 [11MR], H2130 [29MR], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2701 [29AP], H3205 [14MY], H3275 [15MY], H3485 [22MY], H3583 [3JN], H3657 [4JN], H3681 [7JN], H3727 [11JN], H4110 [14JN] H.R. 5842 — A bill to amend title 14, United States Code, to make appropriations for Coast Guard pay in the event an appropriations Act expires before the enactment of a new appropriations Act, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H739 [28FE], H2253 [9AP] H.R. 5844 — A bill to amend the Internal Revenue Code of 1986 to decrease the distance away from home required for a member of a reserve component of the Armed Forces to be eligible for the above-the-line deduction for travel expenses; to the Committee on Ways and Means. Cosponsors added, H433 [5FE], H4064 [13JN] H.R. 5848 — A bill to prohibit the Administrator of the Small Business Administration from directly making loans under the 7(a) loan program, and for other purposes; to the Committee on Small Business. Cosponsors added, H781 [1MR] H.R. 5851 — A bill to require the USAID Youth Coordinator, in their role as defined by the USAID Youth Policy, to coordinate cross-sectoral international development efforts related to youth, inclusive of youth, peace, and security, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H739 [28FE], H1034 [7MR], H3000 [8MY], H3275 [15MY], H3975 [12JN] H.R. 5854 — A bill to amend title XVIII of the Social Security Act to require complete and accurate data set submissions from Medicare Advantage organizations offering Medicare Advantage plans under part C of the Medicare program to improve transparency, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H53 [10JA], H1236 [19MR] H.R. 5855 — A bill to enshrine the legacy of Jamal Khashoggi by protecting activists and journalists, codifying the Khashoggi Ban, and introducing the Khashoggi Amendment to the Foreign Sovereign Immunities Act, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1236 [19MR] H.R. 5856 — A bill to reauthorize the Trafficking Victims Protection Act of 2000, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Education and the Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H544 [9FE], H583 [13FE] Debated, H565 [13FE] Text, H565 [13FE] Rules suspended. Passed House amended, H571 [13FE] Message from the House, S983 [26FE] Referred to the Committee on Foreign Relations, S983 [26FE] H.R. 5857 — A bill to provide that no Federal funds may be used for the U.S. Immigration and Customs Enforcement Secure Docket Card Program, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H2636 [26AP] H.R. 5862 — A bill to amend the Homeland Security Act of 2002 relating to authority of U.S. Customs and Border Protection to consolidate, modify, or reorganize Customs revenue functions; to the Committee on Ways and Means, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Text, H141 [16JA] Rules suspended. Passed House amended, H175 [17JA] Message from the House, S184 [18JA] Referred to the Committee on Finance, S184 [18JA] H.R. 5863 — A bill to provide tax relief with respect to certain Federal disasters; to the Committee on Ways and Means. Reported with amendment (H. Rept. 118–348), H147 [16JA] Text, H3379 [21MY] Rules suspended. Passed House amended, H3387 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on Finance, S3849 [22MY] H.R. 5864 — A bill to amend title XIX of the Social Security Act to provide for coverage under the Medicaid program of non-invasive prenatal genetic screening; to the Committee on Energy and Commerce. Cosponsors added, H739 [28FE], H1094 [11MR] H.R. 5865 — A bill to require the Secretary of the Army to establish a pilot program to protect Native American burial sites, village sites, and cultural resources discovered at Corps of Engineers civil works projects in the Sacramento River watershed, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H1297 [20MR] H.R. 5866 — A bill to ensure comprehensive wraparound services for families impacted by substance use disorders, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3358 [17MY] H.R. 5867 — A bill to designate the facility of the United States Postal Service located at 109 Live Oaks Boulevard in Casselberry, Florida, as the ‘‘Colonel Joseph William Kittinger II Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H53 [10JA], H190 [17JA], H242 [18JA], H254 [25JA], H433 [5FE], H504 [6FE] H.R. 5871 — A bill to enhance safety requirements for trains, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H583 [13FE], H1355 [21MR], H2701 [29AP], H3657 [4JN] H.R. 5874 — A bill to amend the United States-Mexico Transboundary Aquifer Assessment Act to reauthorize the United States-Mexico transboundary aquifer assessment program; to the Committee on Natural Resources. Cosponsors added, H366 [31JA] H.R. 5879 — A bill to amend title 49, United States Code, to permit small, unmanned aircraft pilot research for public safety, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H273 [29JA], H366 [31JA], H583 [13FE], H681 [15FE], H774 [29FE], H1000 [6MR], H2253 [9AP], H2701 [29AP] H.R. 5883 — A bill to provide and expand gratuities for employees killed in the line of duty, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Foreign Affairs, Armed Services, Veterans’ Affairs, Transportation and Infrastructure, Homeland Security, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H190 [17JA], H538 [7FE], H2130 [29MR] H.R. 5885 — A bill to establish a grant program to facilitate the veterinary care of former law enforcement canines, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H1149 [12MR] H.R. 5887 — A bill to amend chapter 3 of title 5, United States Code, to improve Government service delivery, and build related capacity for the Federal Government, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H433 [5FE], H3400 [21MY] Rules suspended. Passed House amended, H3367 [21MY] Text, H3367 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3849 [22MY] H.R. 5890 — A bill to amend title 38, United States Code, to limit the authority of the Secretary of Veterans Affairs to deny the claim of a veteran for benefits under the laws administered by such Secretary on the sole basis that such veteran failed to appear for a medical examination associated with such claim; to the Committee on Veterans’ Affairs. Cosponsors added, H504 [6FE], H781 [1MR] H.R. 5896 — A bill to award a congressional gold medal to the United Negro College Fund, Inc. and the institutions that make up its membership on the occasion of its 80th year of existence; to the Committee on Financial Services. Cosponsors added, H14 [9JA], H190 [17JA], H318 [30JA] H.R. 5903 — A bill to authorize the International Boundary and Water Commission to accept funds for activities relating to wastewater treatment and flood control works, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H318 [30JA], H639 [14FE], H2143 [5AP] H.R. 5904 — A bill to amend title 38, United States Code, to improve services provided by the Department of Veterans Affairs for veteran families, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H697 [26FE] H.R. 5907 — A bill to criminalize transnational repression, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2121 [26MR] H.R. 5908 — A bill to provide funding to summer youth employment programs to expand the availability of subsidized jobs for youths and to develop innovative program activities that improve academic, economic, and criminal justice outcomes for youths, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H538 [7FE] H.R. 5909 — A bill to amend title XXVII of the Public Health Service Act to limit cost sharing for prenatal services in certain circumstances; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H109 [11JA], H133 [12JA], H190 [17JA], H247 [22JA], H273 [29JA], H433 [5FE], H739 [28FE], H3205 [14MY], H3275 [15MY], H3400 [21MY], H3583 [3JN], H3657 [4JN], H3681 [7JN], H3975 [12JN] H.R. 5914 — A bill to amend title 38, United States Code, to improve the processes to approve programs of education for purposes of the educational assistance programs of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Reported with amendment (H. Rept. 118–449), H2249 [9AP] Rules suspended. Passed House amended, H2693 [29AP] Text, H2693 [29AP] Message from the House, S3077 [30AP] Referred to the Committee on Veterans’ Affairs, S3078 [30AP] H.R. 5915 — A bill to amend the Department of Agriculture Reorganization Act of 1994 to improve the Office of Urban Agriculture and Innovative Production, and for other purposes; to the Committee on Agriculture. Cosponsors added, H318 [30JA] H.R. 5917 — A bill to amend the Sanctioning the Use of Civilians as Defenseless Shields Act to modify and extend that Act, and for other purposes; to the Committees on Foreign Affairs, the Judiciary, and Armed Services. Cosponsors added, H109 [11JA], H2143 [5AP] Text, H2416 [16AP] Rules suspended. Passed House, H2432 [16AP] Message from the House, S2824 [17AP] Referred to the Committee on Foreign Relations, S2824 [17AP] H.R. 5921 — A bill to prohibit the Secretary of the Treasury from authorizing certain transactions by a United States financial institution in connection with Iran, to prevent the International Monetary Fund from providing financial assistance to Iran, to codify prohibitions on Export-Import Bank financing for the Government of Iran, and for other purposes; to the Committee on Financial Services. Text, H2376 [15AP] Rules suspended. Passed House amended, H2384 [15AP] Message from the House, S2785 [16AP] Referred to the Committee on Banking, Housing, and Urban Affairs, S2787 [16AP] H.R. 5923 — A bill to impose restrictions on correspondent and payable-through accounts in the United States with respect to Chinese financial institutions that conduct transactions involving the purchase of petroleum or petroleum products from Iran; to the Committee on Financial Services. Text, H2374 [15AP] Rules suspended. Passed House amended, H2383 [15AP] Message from the House, S2785 [16AP] Referred to the Committee on Banking, Housing, and Urban Affairs, S2787 [16AP] H.R. 5928 — A bill to amend the Internal Revenue Code of 1986 to allow early childhood educators to take the educator expense deduction, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H318 [30JA] H.R. 5929 — A bill to amend section 6906 of title 31, United States Code, to permanently authorize the Payment in Lieu of Taxes program; to the Committee on Natural Resources. Cosponsors added, H14 [9JA] H.R. 5931 — A bill to require a briefing from a senior official of the Department of Defense on actions by the People’s Republic of China in Africa that pose a threat to United States national security; to the Committee on Armed Services. Cosponsors added, H14 [9JA], H109 [11JA], H544 [9FE] H.R. 5934 — A bill to improve the effectiveness and performance of certain Federal financial assistance programs, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H190 [17JA], H254 [25JA], H824 [5MR], H1236 [19MR], H1297 [20MR], H2831 [1MY], H3682 [7JN], H3727 [11JN] H.R. 5938 — A bill to amend the Veterans’ Benefits Improvements Act of 1996 and the Johnny Isakson and David P. Roe, M.D. Veterans Health Care and Benefits Improvement Act of 2020 to improve the temporary licensure requirements for contract health care professionals who perform medical disability examinations for the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H774 [29FE] H.R. 5940 — A bill to establish a community disaster assistance fund for housing and community development and to authorize the Secretary of Housing and Urban Development to provide, from the fund, assistance through a community development block grant disaster recovery program, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H53 [10JA], H639 [14FE], H1297 [20MR] H.R. 5941 — A bill to amend the Federal Election Campaign Act of 1971 to limit the authority of corporations to establish and operate separate segregated funds utilized for political purposes, including the establishment or operation of a political committee, to nonprofit corporations, and for other purposes; to the Committee on House Administration. Cosponsors added, H504 [6FE] H.R. 5945 — A bill to reinstate certain sanctions imposed with respect to Iran; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Oversight and Accountability, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA] H.R. 5947 — A bill to provide for the rescission of certain waivers and licenses relating to Iran, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Oversight and Accountability, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2399 [15AP] Providing for consideration (H. Res. 1149), H2443 [16AP] Text, H2476 [17AP] Passed House, H2483 [17AP] H.R. 5957 — A bill to amend the Public Health Service Act to establish a program of research regarding the risks posed by the presence of dioxins, phthalates, pesticides, chemical fragrances, and other components of menstrual products and intimate care products; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE], H739 [28FE] H.R. 5959 — A bill to make ineligible for visas, admission, or parole aliens that are holders of passports issued by the Palestinian Authority. Cosponsors added, H3330 [16MY] H.R. 5960 — A bill to amend the Fair Labor Standards Act of 1938 to impose restrictions relating to prospective employees’ educational credentials, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H109 [11JA], H148 [16JA], H254 [25JA], H1000 [6MR], H1190 [15MR], H1499 [22MR], H2559 [19AP] H.R. 5967 — A bill to amend titles III and IX of the Social Security Act to require individuals receiving unemployment compensation to fulfill certain requirements in relation to suitable work, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H366 [31JA], H2319 [11AP] H.R. 5968 — A bill to amend the State Department Basic Authorities Act of 1956 to provide for a crisis evacuation loan program, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1149 [12MR] H.R. 5969 — A bill to direct the Secretary of Homeland Security to revise certain regulations to permit certain children to accompany their parents or legal guardians through Global Entry airport lanes, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported with amendment from the Committee on Homeland Security (H. Rept. 118–403, part 1), H780 [1MR] Committee on Ways and Means discharged, H780 [1MR] Rules suspended. Passed House amended, H787 [5MR] Text, H787 [5MR] Message from the House, S2237 [6MR] Referred to the Committee on Homeland Security and Governmental Affairs, S2237 [6MR] H.R. 5970 — A bill to amend the Indian Self-Determination and Education Assistance Act to allow the Secretary of Agriculture to enter into self-determination contracts with Indian Tribes and Tribal organizations to carry out supplemental nutrition assistance programs; to the Committee on Agriculture. Cosponsors added, H504 [6FE], H1297 [20MR], H2445 [16AP], H3400 [21MY], H3727 [11JN] H.R. 5973 — A bill to amend the Organic Foods Production Act of 1990 to provide for continuous improvement of organic standards, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3205 [14MY], H3400 [21MY] H.R. 5975 — A bill to authorize grants to implement school-community partnerships for preventing substance use and misuse among youth. Cosponsors added, H433 [5FE], H583 [13FE] H.R. 5976 — A bill to establish a Youth Mental Health Research Initiative in the National Institutes of Health for purposes of encouraging collaborative research to improve youth mental health; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H242 [18JA], H273 [29JA], H697 [26FE], H824 [5MR], H2253 [9AP], H2368 [12AP], H2503 [17AP], H2559 [19AP], H2636 [26AP], H2876 [6MY], H3007 [10MY], H3400 [21MY], H3543 [31MY], H3583 [3JN], H3657 [4JN], H3682 [7JN], H4064 [13JN], H4115 [18JN] H.R. 5979 — A bill to require each enterprise to include on the Uniform Residential Loan Application a disclaimer to increase awareness of the direct and guaranteed home loan programs of the Department of Veterans Affairs, and for other purposes; to the Committee on Financial Services. Cosponsors added, H109 [11JA], H254 [25JA], H366 [31JA], H774 [29FE], H824 [5MR], H1236 [19MR], H2701 [29AP], H3727 [11JN] H.R. 5985 — A bill to designate the facility of the United States Postal Service located at 517 Seagaze Drive in Oceanside, California, as the ‘‘Charlesetta Reece Allen Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H133 [12JA], H190 [17JA], H318 [30JA], H366 [31JA], H583 [13FE], H1149 [12MR], H1236 [19MR], H2253 [9AP] Rules suspended. Passed House, H3564 [3JN] Text, H3564 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 5987 — A bill to amend the Adult Education and Family Literacy Act and the Workforce Innovation and Opportunity Act to strengthen adult education; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE], H1499 [22MR], H3000 [8MY] H.R. 5989 — A bill to authorize rural health facilities to use certain Federal agricultural credit assistance for the purpose of refinancing debt obligations, updating necessary services, technology, and equipment, and supporting ancillary needs; to the Committee on Agriculture. Cosponsors added, H318 [30JA], H681 [15FE], H688 [20FE], H739 [28FE], H824 [5MR], H1355 [21MR], H2130 [29MR], H3275 [15MY], H3583 [3JN] H.R. 5992 — A bill to amend the Federal Crop Insurance Act to modify eligibility for prevented planting insurance under certain drought conditions, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2876 [6MY] H.R. 5995 — A bill to amend title 5, United States Code, to provide that civilian service in a temporary position after December 31, 1988, may be creditable service under the Federal Employees Retirement System, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H109 [11JA], H148 [16JA], H190 [17JA], H242 [18JA], H254 [25JA], H273 [29JA], H366 [31JA], H433 [5FE], H639 [14FE], H694 [23FE], H697 [26FE], H824 [5MR], H1000 [6MR], H1236 [19MR], H1355 [21MR], H2136 [2AP], H2253 [9AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H2559 [19AP], H2701 [29AP], H2831 [1MY], H2876 [6MY], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3400 [21MY], H3526 [23MY], H3727 [11JN] H.R. 6001 — A bill to provide that members of the Armed Forces performing services in Niger, Mali, Burkina Faso, and Chad shall be entitled to tax benefits in the same manner as if such services were performed in a combat zone; to the Committee on Ways and Means. Cosponsors added, H2253 [9AP], H2771 [30AP], H3531 [24MY] H.R. 6002 — A bill to allow participants in the Service Corps of Retired Executives to teach entrepreneurship at community learning centers, and for other purposes; to the Committee on Small Business, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP] H.R. 6003 — A bill to amend the Fair Credit Reporting Act to prohibit the inclusion of medical debt on a consumer report, and for other purposes; to the Committee on Financial Services. Cosponsors added, H190 [17JA], H1149 [12MR], H1182 [13MR], H1236 [19MR], H2291 [10AP], H3975 [12JN], H4064 [13JN], H4115 [18JN] H.R. 6009 — A bill to require the Director of the Bureau of Land Management to withdraw the proposed rule relating to fluid mineral leases and leasing process, and for other purposes; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–376), H534 [7FE] Providing for consideration (H. Res. 1085), H1233 [19MR] Debated, H1264 [20MR] Text, H1264 [20MR] Motion to recommit, H1270 [20MR] Motion to recommit rejected, H1272 [20MR] Passed House, H1273 [20MR] Message from the House, S2512 [21MR] Referred to the Committee on Energy and Natural Resources, S2512 [21MR] H.R. 6011 — A bill to direct the Secretary of the Interior and the Secretary of Agriculture to notify applicants of the completion status of right-of-way applications under section 501 of the Federal Land Policy and Management Act of 1976 and section 28 of the Mineral Leasing Act; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported with amendment from the Committee on Natural Resources (H. Rept. 118–420, part 1), H1146 [12MR] Committee on Agriculture discharged, H1146 [12MR] Text, H2150 [9AP] Rules suspended. Passed House amended, H2301 [11AP] Message from the House, S2733 [15AP] H.R. 6012 — A bill to authorize the Secretary of Agriculture to permit removal of trees around electrical lines on National Forest System land without conducting a timber sale, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2130 [29MR], H3007 [10MY], H3485 [22MY] H.R. 6013 — A bill to amend the Internal Revenue Code of 1986 to establish a business tax credit for the purchase of zero-emission electric lawn, garden, and landscape equipment, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H109 [11JA], H639 [14FE], H681 [15FE], H1236 [19MR], H2399 [15AP], H4110 [14JN] H.R. 6015 — A bill to require the President to prevent the abuse of financial sanctions exemptions by Iran, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Oversight and Accountability, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported with amendment from the Committee on Financial Services (H. Rept. 118–460, part 1), H2395 [15AP] Text, H2380 [15AP] Rules suspended. Passed House amended, H2416 [16AP] Message from the House, S2824 [17AP] Referred to the Committee on Foreign Relations, S2824 [17AP] H.R. 6017 — A bill to revoke the waiver determination submitted to Congress on September 11, 2023, with respect to certain sanctions imposed with respect to Iran; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY] H.R. 6020 — A bill to amend the Public Health Service Act to eliminate consideration of the income of organ recipients in providing reimbursement of expenses to donating individuals, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2253 [9AP], H2319 [11AP], H2876 [6MY], H3000 [8MY], H3275 [15MY], H3330 [16MY] H.R. 6021 — A bill to prohibit the transportation, sale, and purchase of donkeys or donkey hides for the purpose of producing ejiao, to prohibit the transportation, sale, and purchase of products containing ejiao, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Foreign Affairs, the Judiciary, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H2445 [16AP], H2503 [17AP], H3531 [24MY] H.R. 6023 — A bill to amend title 38, United States Code, to provide for the retroactive payment of benefits for veterans with covered mental health conditions based on military sexual trauma, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H14 [9JA], H190 [17JA], H504 [6FE], H583 [13FE], H781 [1MR], H1000 [6MR], H1182 [13MR], H2291 [10AP], H3330 [16MY], H3657 [4JN], H3727 [11JN] H.R. 6030 — A bill to amend title XVIII of the Social Security Act to provide an option for first responders age 50 to 64 who are separated from service due to retirement or disability to buy into Medicare; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H1094 [11MR], H1297 [20MR], H2701 [29AP] H.R. 6031 — A bill to address and take action to prevent bullying and harassment of students; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H273 [29JA], H697 [26FE], H739 [28FE], H1236 [19MR], H2399 [15AP], H3400 [21MY] H.R. 6033 — A bill to require the Secretary of Health and Human Services to establish a task force to improve access to health care information technology for non-English speakers; to the Committee on Energy and Commerce. Cosponsors added, H538 [7FE], H681 [15FE], H1034 [7MR], H2253 [9AP], H3205 [14MY], H3975 [12JN] H.R. 6038 — A bill to amend the Public Health Service Act to provide for a Reducing Youth Use of E-Cigarettes Initiative; to the Committee on Energy and Commerce. Cosponsors added, H366 [31JA], H3583 [3JN] H.R. 6046 — A bill to designate Ansarallah as a foreign terrorist organization and impose certain sanctions on Ansarallah, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H109 [11JA], H133 [12JA], H148 [16JA], H242 [18JA], H247 [22JA], H254 [25JA], H273 [29JA], H366 [31JA], H433 [5FE], H504 [6FE], H538 [7FE], H583 [13FE], H681 [15FE], H697 [26FE], H739 [28FE], H1000 [6MR], H2291 [10AP] Reported with amendment (H. Rept. 118–404, part 1), H819 [5MR] Providing for consideration (H. Res. 1149), H2443 [16AP] Text, H2468 [17AP] Passed House amended, H2481 [17AP] H.R. 6049 — A bill to award payments to employees of Air America who provided support to the United States from 1950 to 1976, and for other purposes; to the Committee on Intelligence (Permanent Select). Cosponsors added, H133 [12JA], H190 [17JA], H254 [25JA], H273 [29JA], H318 [30JA], H366 [31JA], H538 [7FE], H583 [13FE], H639 [14FE], H688 [20FE], H694 [23FE], H739 [28FE], H774 [29FE], H1000 [6MR], H1034 [7MR], H1094 [11MR], H1149 [12MR], H1190 [15MR], H1236 [19MR], H1297 [20MR], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2503 [17AP], H2771 [30AP], H2876 [6MY], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3485 [22MY], H3682 [7JN], H3727 [11JN], H3976 [12JN] H.R. 6050 — A bill to amend the Internal Revenue Code of 1986 to permit kindergarten through grade 12 educational expenses to be paid from a 529 account; to the Committee on Ways and Means. Cosponsors added, H4110 [14JN] H.R. 6052 — A bill to amend the Individuals with Disabilities Education Act to improve provisions relating to dyslexia, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H433 [5FE] H.R. 6053 — A bill to amend the Solid Waste Disposal Act to reduce the production and use of certain single-use plastic products and packaging, to improve the responsibility of producers in the design, collection, reuse, recycling, and disposal of consumer products and packaging, to prevent pollution from consumer products and packaging from entering into animal and human food chains and waterways, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Foreign Affairs, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H538 [7FE], H639 [14FE], H824 [5MR], H1058 [8MR], H1094 [11MR], H2136 [2AP], H3535 [28MY], H3976 [12JN], H4064 [13JN] H.R. 6054 — A bill to ensure that the United States diplomatic workforce at all levels reflects the diverse composition of the United States, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H1094 [11MR] H.R. 6056 — A bill to direct the Secretary of Defense to submit to the Committees on Armed Services of the Senate and House of Representatives a report on at-home child care programs of the Department of Defense, and for other purposes; to the Committee on Armed Services. Cosponsors added, H2559 [19AP], H2636 [26AP], H3531 [24MY] H.R. 6058 — A bill to reauthorize the Interagency Committee on Women’s Business Enterprise, and for other purposes; to the Committee on Small Business. Cosponsors added, H3330 [16MY] H.R. 6062 — A bill to restore the ability of the people of American Samoa to approve amendments to the territorial constitution based on majority rule in a democratic act of self-determination, as authorized pursuant to an Act of Congress delegating administration of Federal territorial law in the territory to the President, and to the Secretary of the Interior under Executive Order 10264, dated June 29, 1951, under which the Constitution of American Samoa was approved and may be amended without requirement for further congressional action, subject to the authority of Congress under the Territorial Clause in article IV, section 3, clause 2 of the United States Constitution; to the Committee on Natural Resources. Cosponsors added, H148 [16JA] H.R. 6063 — A bill to amend the Internal Revenue Code of 1986 and the Social Security Act to provide that an individual engaged in a labor dispute may receive unemployment benefits; to the Committee on Ways and Means. Cosponsors added, H824 [5MR], H2130 [29MR] H.R. 6065 — A bill to establish the American Worker Retirement Plan, improve the financial security of working Americans by facilitating the accumulation of wealth, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H433 [5FE], H824 [5MR], H2253 [9AP] H.R. 6066 — A bill to prohibit funding to international organizations that provide resources or other support to foreign terrorist organizations, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H2938 [7MY] H.R. 6072 — A bill to amend the Internal Revenue Code of 1986 to provide tax credits for carriage of independent programmers by certain multichannel video programming distributors; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H273 [29JA], H583 [13FE], H1297 [20MR], H2831 [1MY] H.R. 6073 — A bill to designate the facility of the United States Postal Service located at 9925 Bustleton Avenue in Philadelphia, Pennsylvania, as the ‘‘Sergeant Christopher David Fitzgerald Post Office Building’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3556 [3JN] Text, H3556 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 6074 — A bill to allow States to authorize State and local law enforcement officers to enforce the provisions of Federal immigration law relating to unlawful entry into the United States and to authorize States along the southern land border to construct barriers on Federal lands to prevent unlawful entry into the United States; to the Committee on the Judiciary. Cosponsors added, H583 [13FE], H2629 [23AP] H.R. 6077 — A bill to amend the Higher Education Act of 1965 to reinstate the authority of the Secretary of Education to make Federal Direct Stafford Loans to graduate and professional students; to the Committee on Education and the Workforce. Cosponsors added, H1355 [21MR] H.R. 6078 — A bill to amend the Public Health Service Acts to make community colleges eligible to participate in the Nurse Education, Practice, Quality, and Retention-Pathway to Registered Nurse Program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H433 [5FE] H.R. 6082 — A bill to amend the National Flood Insurance Act of 1968 to establish a pilot program to increase the allowable amounts of advance payments under the National Flood Insurance Program, and for other purposes; to the Committee on Financial Services. Cosponsors added, H14 [9JA] H.R. 6086 — A bill to amend the Elementary and Secondary Education Act of 1965 to require that annual State report cards reflect the same race groups as the decennial census of population; to the Committee on Education and the Workforce. Cosponsors added, H1190 [15MR], H1297 [20MR], H2771 [30AP] H.R. 6087 — A bill to establish a comprehensive United States Government initiative to build the capacity of young leaders and entrepreneurs in Africa, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H1094 [11MR] H.R. 6089 — A bill to prohibit States or local governments from prohibiting the connection, reconnection, modification, installation, or expansion of an energy service based on the type or source of energy to be delivered, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H739 [28FE], H3526 [23MY], H3727 [11JN] H.R. 6090 — A bill to provide for the consideration of a definition of antisemitism set forth by the International Holocaust Remembrance Alliance for the enforcement of Federal antidiscrimination laws concerning education programs or activities, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H53 [10JA], H242 [18JA], H433 [5FE], H544 [9FE], H583 [13FE], H681 [15FE], H697 [26FE], H1094 [11MR], H1236 [19MR], H1499 [22MR], H2121 [26MR], H2636 [26AP], H2701 [29AP], H2771 [30AP] Providing for consideration (H. Res. 1173), H2699 [29AP] Debated, H2790 [1MY] Text, H2790 [1MY] Passed House, H2814 [1MY] Message from the House, S3311 [2MY] H.R. 6091 — A bill to amend the Elementary and Secondary Education Act of 1965 to direct the Secretary of Education to make grants to States for assistance in hiring additional school-based mental health and student service providers; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H254 [25JA] H.R. 6093 — A bill to improve the National Oceanic and Atmospheric Administration’s weather research, support improvements in weather forecasting and prediction, expand commercial opportunities for the provision of weather data, and for other purposes; to the Committee on Science, Space, and Technology. Debated, H2658 [29AP] Text, H2658 [29AP] Rules suspended. Passed House amended, H2714 [30AP] Message from the House, S3129 [1MY] Referred to the Committee on Commerce, Science, and Transportation, S3130 [1MY] H.R. 6094 — A bill to amend titles XVIII and XIX of the Social Security Act and title XXVII of the Public Health Service Act to refine the set of information sources for determining coverage of certain drugs and biologicals used in the treatment or management of a rare disease or condition, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H133 [12JA], H190 [17JA], H273 [29JA], H433 [5FE], H583 [13FE], H639 [14FE], H681 [15FE], H739 [28FE], H774 [29FE], H824 [5MR], H1000 [6MR], H1236 [19MR], H3205 [14MY], H3330 [16MY] H.R. 6095 — A bill to require the Secretary of Defense to request modifications relating to certain permits issued under the Federal Water Pollution Control Act, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H133 [12JA], H538 [7FE], H2399 [15AP] H.R. 6096 — A bill to require annual reports on allied contributions to the common defense, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H2143 [5AP] H.R. 6097 — A bill to amend the Family Violence Prevention and Services Act to authorize grants to ensure access for victims of family violence, domestic violence, and dating violence to substance use disorder treatment that allows parents (or legal guardians) and their children, stepchildren, or other dependents to remain together throughout the course of treatment, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1000 [6MR], H1236 [19MR] H.R. 6103 — A bill to allow Americans to receive paid leave time to process and address their own health needs and the health needs of their partners during the period following a pregnancy loss, an unsuccessful round of intrauterine insemination or of an assisted reproductive technology procedure, a failed adoption arrangement, a failed surrogacy arrangement, or a diagnosis or event that impacts pregnancy or fertility, to support related research and education, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on House Administration, Oversight and Accountability, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2938 [7MY], H3485 [22MY] H.R. 6105 — A bill to amend the Federal Food, Drug, and Cosmetic Act to deem certain substances to be unsafe for use as food contact substances, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H3275 [15MY] H.R. 6106 — A bill to create a risk framework to evaluate foreign mobile applications of concern, and for other purposes; to the Committee on Armed Services. Cosponsors added, H318 [30JA] H.R. 6109 — A bill to amend the Internal Revenue Code of 1986 to establish the generic drugs and biosimilars production credit, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H318 [30JA] H.R. 6110 — A bill to amend title XVIII of the Social Security Act to restore physician judgment to prescribe the appropriate mix of skilled modalities that constitute an intensive rehabilitation therapy program in an inpatient rehabilitation hospital or unit; to the Committee on Ways and Means. Cosponsors added, H2136 [2AP], H2291 [10AP] H.R. 6111 — A bill to require the Director of the National Institute of Standards and Technology and the Secretary of Transportation to take certain actions to develop physical alternatives to better protect pedestrians and vulnerable road users against traffic incidents, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H583 [13FE], H824 [5MR], H1034 [7MR], H1149 [12MR], H1297 [20MR], H2136 [2AP], H3205 [14MY], H3400 [21MY] H.R. 6114 — A bill to impose additional sanctions with respect to Iran and modify other existing sanctions with respect to Iran, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Ways and Means, Oversight and Accountability, Financial Services, Rules, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2522 [18AP] H.R. 6116 — A bill to designate the facility of the United States Postal Service located at 14280 South Military Trail in Delray Beach, Florida, as the ‘‘Benjamin Berell Ferencz Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H2445 [16AP], H3205 [14MY], H3657 [4JN] H.R. 6121 — A bill to amend title 38, United States Code, to improve the benefits furnished by the Secretary of Veterans Affairs to certain individuals who served in the forces of the Philippines and the Philippine Scouts; to the Committee on Veterans’ Affairs. Cosponsors added, H694 [23FE], H774 [29FE], H2629 [23AP], H3583 [3JN] H.R. 6122 — A bill to require the Secretary of Health and Human Services and the Secretary of Labor to conduct a study and issue a report on grant programs to support the nursing workforce; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3675 [5JN] H.R. 6123 — A bill to prohibit the Secretary of State from requiring United States citizens who is evacuated by the Department of State or for which the Department of State provides Government assisted departure from a crisis situation abroad to pay for the costs associated with such evacuation or departure; to the Committee on Foreign Affairs. Cosponsors added, H3485 [22MY] H.R. 6126 — A bill making emergency supplemental appropriations to respond to the attacks in Israel for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Objection is heard to request for consideration, S2732 [15AP] H.R. 6127 — A bill to provide for the standardization, consolidation, and publication of data relating to public outdoor recreational use of Federal waterways among Federal land and water management agencies, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE], H2253 [9AP] H.R. 6128 — A bill to amend the Fair Labor Standards Act of 1938 to exempt certain employees engaged in outdoor recreational outfitting or guiding services from maximum hours requirements; to the Committee on Education and the Workforce. Cosponsors added, H433 [5FE], H639 [14FE] H.R. 6129 — A bill to require the Council on Environmental Quality to publish an annual report on environmental reviews and causes of action based on compliance with the National Environmental Policy Act of 1969, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H53 [10JA], H133 [12JA], H2319 [11AP], H2399 [15AP] H.R. 6131 — A bill to amend title 51, United States Code, to update government oversight of commercial space activities, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H639 [14FE] H.R. 6132 — A bill to require the Consumer Product Safety Commission to promulgate a mandatory consumer product safety standard with respect to retractable awnings; to the Committee on Energy and Commerce. Reported (H. Rept. 118–472), H2634 [26AP] Rules suspended. Passed House, H3042 [14MY] Text, H3042 [14MY] Message from the House, S3709 [15MY] Referred to the Committee on Commerce, Science, and Transportation, S3709 [15MY] H.R. 6133 — A bill to prohibit the Secretary of Health and Human Services from finalizing, implementing, or enforcing the proposed rule, entitled ‘‘Safe and Appropriate Foster Care Placement Requirements for Titles IV-E and IV-B’’; to the Committee on Ways and Means. Cosponsors added, H697 [26FE] H.R. 6138 — A bill to evaluate U.S. Customs and Border Protection’s implementation of an integrated biometric entry and exit data system in the United States, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3976 [12JN] H.R. 6140 — A bill to facilitate access to swiftly transport goods during a publicly announced state of emergency situation; to the Committee on Transportation and Infrastructure. Cosponsors added, H53 [10JA], H1297 [20MR], H3976 [12JN] H.R. 6143 — A bill to provide for drone security; to the Committee on Oversight and Accountability, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H190 [17JA] H.R. 6144 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to authorize grant programs to combat fentanyl poisonings; to the Committee on the Judiciary. Cosponsors added, H3330 [16MY] H.R. 6147 — A bill to establish the Tribal Cultural Areas System, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H681 [15FE], H1000 [6MR], H3583 [3JN] H.R. 6148 — A bill to protect Native cultural sites located on Federal land, to improve consultation with Indian Tribes, to bring parity to Indian Tribes with regard to Federal public land management laws, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3583 [3JN] H.R. 6150 — A bill to amend the National Security Act of 1947 to include school security as an element of the National Security Strategy, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2559 [19AP] H.R. 6151 — A bill to encourage local educational agencies to inform parents about gun safety, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on the Judiciary, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H688 [20FE] H.R. 6153 — A bill to provide for a review of sanctions with respect to Hong Kong; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H781 [1MR], H1094 [11MR] H.R. 6155 — A bill to direct the Comptroller General of the United States to submit a report to Congress on case management personnel turnover of the Federal Emergency Management Agency, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H1094 [11MR], H2559 [19AP] H.R. 6156 — A bill to require the Administrator of the Small Business Administration to designate a point of contact for for-profit child care providers, submit a report to Congress, and for other purposes; to the Committee on Small Business. Reported with amendment (H. Rept. 118–382), H579 [13FE] H.R. 6157 — A bill to amend the Securities Exchange Act of 1934 to require public companies to provide sexual harassment claim disclosures in certain reports, to require public companies to implement mandatory sexual harassment training, and for other purposes; to the Committee on Financial Services. Cosponsors added, H1297 [20MR], H2143 [5AP] H.R. 6159 — A bill to establish a pilot grant program to improve recycling accessibility, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H109 [11JA], H148 [16JA], H254 [25JA], H1499 [22MR], H2291 [10AP], H2319 [11AP], H2831 [1MY], H3205 [14MY], H4110 [14JN], H4115 [18JN] H.R. 6160 — A bill to amend the Public Health Service Act to reauthorize a lifespan respite care program; to the Committee on Energy and Commerce. Cosponsors added, H1094 [11MR] Reported with amendment (H. Rept. 118–513), H3396 [21MY] H.R. 6161 — A bill to amend the Internal Revenue Code of 1986 to allow amounts paid for over-the-counter naloxone to be taken into account in determining the deduction for medical expenses; to the Committee on Ways and Means. Cosponsors added, H242 [18JA], H688 [20FE], H1094 [11MR], H3485 [22MY], H3526 [23MY] H.R. 6163 — A bill to amend title 11, District of Columbia Official Code, to revise references in such title to individuals with intellectual disabilities; to the Committee on Oversight and Accountability. Cosponsors added, H109 [11JA], H318 [30JA], H694 [23FE], H697 [26FE], H774 [29FE], H2130 [29MR] H.R. 6170 — A bill to direct the Secretary of Homeland Security to cease all immigration functions at ports of entry along the southern border until the United States is secure, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP] H.R. 6171 — A bill to amend the Internal Revenue Code of 1986 to provide a refundable credit to individuals who donate certain life-saving organs; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2253 [9AP], H2291 [10AP], H2319 [11AP], H2445 [16AP], H2938 [7MY], H3275 [15MY] H.R. 6172 — A bill to amend title 18, United States Code, to prevent bulk sales of ammunition, promote recordkeeping and reporting about ammunition, end ammunition straw purchasing, and require a background check before the transfer of ammunition by certain Federal firearms licensees to non-licensees; to the Committee on the Judiciary. Cosponsors added, H2253 [9AP] H.R. 6173 — A bill to establish a pilot program to address technology-related abuse in domestic violence cases; to the Committee on the Judiciary. Cosponsors added, H504 [6FE], H583 [13FE], H639 [14FE], H681 [15FE], H684 [16FE], H1182 [13MR], H2629 [23AP], H3000 [8MY], H3205 [14MY], H3727 [11JN] H.R. 6174 — A bill to improve the biodetection functions of the Department of Homeland Security, and for other purposes; to the Committee on Homeland Security. Text, H791 [5MR] Rules suspended. Passed House, H1025 [7MR] Message from the House, S2330 [8MR] Referred to the Committee on Homeland Security and Governmental Affairs, S2330 [8MR] H.R. 6175 — A bill to amend the Internal Revenue Code of 1986 to deny certain green energy tax benefits to companies connected to certain countries of concern; to the Committee on Ways and Means. Cosponsors added, H53 [10JA], H273 [29JA], H366 [31JA], H2121 [26MR], H2136 [2AP] H.R. 6176 — A bill to prohibit Federal funding of Planned Parenthood Federation of America; to the Committee on Energy and Commerce. Cosponsors added, H3727 [11JN] H.R. 6177 — A bill to prohibit Federal funding for researchers who have conducted a study or experiment relating to gender identity, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, Ways and Means, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H694 [23FE] H.R. 6178 — A bill to require the Secretary of Energy to develop a National Electric Vehicle Bidirectional Charging Roadmap, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3682 [7JN] H.R. 6179 — A bill to exclude from consideration as income under the housing assistance programs of the Department of Housing and Urban Development amounts received by a family from the Department of Veterans Affairs for service-related disabilities of a member of the family, and for other purposes; to the Committee on Financial Services. Cosponsors added, H14 [9JA], H1000 [6MR], H1297 [20MR], H1499 [22MR], H2121 [26MR], H2130 [29MR], H2253 [9AP], H2399 [15AP], H2522 [18AP], H2636 [26AP], H2836 [2MY], H3000 [8MY], H3205 [14MY], H3358 [17MY], H3583 [3JN], H3675 [5JN], H4115 [18JN] H.R. 6180 — A bill to reaffirm the applicability of the Indian Reorganization Act to the Poarch Band of Creek Indians, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H3583 [3JN] H.R. 6183 — A bill to establish an Office of Colonias and Farmworker Initiatives within the Department of Agriculture, and for other purposes; to the Committee on Agriculture. Cosponsors added, H366 [31JA], H774 [29FE], H2319 [11AP] H.R. 6185 — A bill to require coordination among Federal agencies on regulatory actions that affect the reliable operation of the bulk-power system; to the Committee on Energy and Commerce. Reported (H. Rept. 118–427), H1233 [19MR] H.R. 6186 — A bill to amend the Federal Crop Insurance Act to direct the Federal Crop Insurance Corporation to conduct research and development on frost or cold weather insurance, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3275 [15MY] H.R. 6188 — A bill to designate the facility of the United States Postal Service located at 420 Highway 17 North in Surfside Beach, South Carolina, as the ‘‘Nancy Yount Childs Post Office Building’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3553 [3JN] Text, H3553 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 6189 — A bill to transfer unobligated balances made available for COVID-19 emergency response and relief to the Federal Communications Commission to enable the Commission to carry out the Secure and Trusted Communications Networks Reimbursement Program; to the Committee on Appropriations, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1058 [8MR], H2136 [2AP] H.R. 6191 — A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on excessively disparate wages paid to chief executive officers; to the Committee on Ways and Means. Cosponsors added, H190 [17JA], H583 [13FE], H681 [15FE] H.R. 6192 — A bill to amend the Energy Policy and Conservation Act to prohibit the Secretary of Energy from prescribing any new or amended energy conservation standard for a product that is not technologically feasible and economically justified, and for other purposes; to the Committee on Energy and Commerce. Reported with amendment (H. Rept. 118–432), H2119 [26MR] Providing for consideration (H. Res. 1194), H2873 [6MY] Debated, H2896 [7MY] Amendments, H2900, H2904 [7MY] Text, H2902 [7MY] Motion to recommit rejected, H2906 [7MY] Passed House amended, H2908 [7MY] Message from the House, S3593 [8MY] Referred to the Committee on Energy and Natural Resources, S3593 [8MY] H.R. 6193 — A bill to amend title 38, United States Code, to waive the fee for a housing loan guaranteed by the Secretary of Veterans Affairs for certain veterans with a service-connected disability who applied for such loan before receiving a disability rating from the Secretary; to the Committee on Veterans’ Affairs. Cosponsors added, H366 [31JA] H.R. 6196 — A bill to require a comprehensive report on the Federal Government’s efforts to collect, analyze, and preserve evidence of atrocities committed during Hamas’s attack on Israel, public dissemination campaigns to ensure those responsible for the attacks are identified and prosecuted, and efforts to leverage international cooperation and best practices regarding current Israeli-Hamas war; to the Committee on Foreign Affairs. Cosponsors added, H2702 [29AP] H.R. 6198 — A bill to support infrastructure investment in small law enforcement agencies and small fire departments; to the Committee on the Judiciary, and in addition to the Committees on Transportation and Infrastructure, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE] H.R. 6199 — A bill to amend title 49, United States Code, to include affordable housing incentives in certain capital investment grants, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H14 [9JA], H247 [22JA], H254 [25JA], H2291 [10AP], H4064 [13JN] H.R. 6200 — A bill to consider, for purposes of the Immigration and Nationality Act, that officers, officials, representatives, spokespersons, and members of Hamas, Hezbollah, Al-Qaeda, Palestine Islamic Jihad, and ISIS, and individuals who endorse or espouse terrorist activities conducted by such organizations are engaged in terrorist activity; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP], H3682 [7JN] H.R. 6201 — A bill to establish and authorize funding for an Iranian Sanctions Enforcement Fund to enforce United States sanctions with respect to Iran and its proxies and pay off the United States public debt and to codify the Export Enforcement Coordination Center; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H697 [26FE], H1094 [11MR], H1149 [12MR], H1190 [15MR], H1236 [19MR], H1297 [20MR], H1355 [21MR], H1499 [22MR], H2143 [5AP], H2319 [11AP], H2399 [15AP], H2771 [30AP], H3275 [15MY], H3526 [23MY], H3535 [28MY], H3583 [3JN], H3675 [5JN], H3682 [7JN], H3727 [11JN], H4115 [18JN] H.R. 6202 — A bill to divert Federal funding away from supporting the presence of police in schools and toward evidence-based and trauma informed services that address the needs of marginalized students and improve academic outcomes, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H739 [28FE], H3682 [7JN] H.R. 6203 — A bill to amend the Food and Nutrition Act of 2008 and the Emergency Food Assistance Act of 1983 to make commodities available for the Emergency Food Assistance Program, and for other purposes; to the Committee on Agriculture. Cosponsors added, H14 [9JA], H190 [17JA], H242 [18JA], H247 [22JA], H254 [25JA], H273 [29JA], H318 [30JA], H366 [31JA], H433 [5FE], H504 [6FE], H694 [23FE], H739 [28FE], H824 [5MR], H1034 [7MR], H1094 [11MR], H1149 [12MR], H1190 [15MR], H1236 [19MR], H1297 [20MR], H1499 [22MR], H2143 [5AP], H3000 [8MY], H3727 [11JN], H4110 [14JN] H.R. 6205 — A bill to enhance our Nation’s nurse and physician workforce by recapturing unused immigrant visas; to the Committee on the Judiciary. Cosponsors added, H109 [11JA], H390 [1FE], H1149 [12MR], H1297 [20MR], H2136 [2AP], H2253 [9AP], H3000 [8MY], H3727 [11JN] H.R. 6207 — A bill to amend the National Quantum Initiative Act to accelerate the development of supply chain supporting technology for quantum information science, technology, and engineering to support United States competitiveness, reduce risks in the quantum supply chain, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H2629 [23AP] H.R. 6211 — A bill to prohibit the Secretary of Homeland Security or the Secretary of State, as applicable, from approving any application for or issuing a nonimmigrant or immigrant visa to nationals of Palestine; to the Committee on the Judiciary. Cosponsors added, H2623 [20AP], H3000 [8MY] H.R. 6212 — A bill to provide for a moratorium on oil and gas leasing and exploration on the outer Continental Shelf off the coast of Florida until 2032, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H774 [29FE] H.R. 6213 — A bill to reauthorize the National Quantum Initiative Act, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H273 [29JA], H583 [13FE], H3976 [12JN] H.R. 6219 — A bill to require the Administrator of the National Aeronautics and Space Administration to establish a program to identify, evaluate, acquire, and disseminate commercial Earth remote sensing data and imagery in order to satisfy the scientific, operational, and educational requirements of the Administration, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H2771 [30AP] H.R. 6220 — A bill to amend title 18, United States Code, to criminalize unlawful adoption practices; to the Committee on the Judiciary. Cosponsors added, H247 [22JA], H583 [13FE], H2253 [9AP] H.R. 6221 — A bill to direct the Secretary of Labor to promulgate an occupational safety and health standard to protect workers from adverse air, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1236 [19MR] H.R. 6224 — A bill to establish a task force on street racing; to the Committee on the Judiciary. Cosponsors added, H2771 [30AP] H.R. 6225 — A bill to amend title 38, United States Code, to expand eligibility for a housing loan guaranteed by the Secretary of Veterans Affairs to certain individuals who performed active duty for training; to the Committee on Veterans’ Affairs. Cosponsors added, H3526 [23MY] H.R. 6227 — A bill to amend the Federal Food, Drug, and Cosmetic Act to expand the tropical disease product priority review voucher program to encourage prevention and treatment of coccidioidomycosis; to the Committee on Energy and Commerce. Cosponsors added, H109 [11JA], H433 [5FE], H694 [23FE], H1182 [13MR] H.R. 6229 — A bill to amend the Homeland Security Act of 2002 to authorize a program to assess the threat, vulnerability, and consequences of terrorism or other security threats, as appropriate, to certain events, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3727 [11JN] H.R. 6232 — A bill to establish an interagency committee on soil carbon sequestration research, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committees on Agriculture, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H247 [22JA], H688 [20FE] H.R. 6233 — A bill to amend the Surface Mining Control and Reclamation Act of 1977 to authorize partnerships between States and nongovernmental entities for the purpose of reclaiming and restoring land and water resources adversely affected by coal mining activities before August 3, 1977, and for other purposes; to the Committee on Natural Resources. Reported (H. Rept. 118–438), H2140 [5AP] Rules suspended. Passed House, H2189 [9AP] Text, H2189 [9AP] Message from the House, S2704 [10AP] Referred to the Committee on Energy and Natural Resources, S2704 [10AP] H.R. 6235 — A bill to amend the Harmful Algal Blooms and Hypoxia Research and Control Act of 1998 to address harmful algal blooms, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H1149 [12MR] H.R. 6242 — A bill to amend the Uniformed and Overseas Citizens Absentee Voting Act to expand coverage of the definition of absent uniformed services voter, under such Act; to the Committee on House Administration. Cosponsors added, H1182 [13MR], H4110 [14JN] H.R. 6244 — A bill to designate the facility of the United States Postal Service located at 1535 East Los Ebanos Boulevard in Brownsville, Texas, as the ‘‘1st Lieutenant Andres Zermeno Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H242 [18JA], H318 [30JA], H824 [5MR], H2319 [11AP], H3205 [14MY], H3543 [31MY], H3682 [7JN] H.R. 6245 — A bill to require the Secretary of the Treasury to report on financial institutions’ involvement with officials of the Iranian Government, and for other purposes; to the Committee on Financial Services. Text, H2378 [15AP] Rules suspended. Passed House amended, H2415 [16AP] Message from the House, S2824 [17AP] Referred to the Committee on Banking, Housing, and Urban Affairs, S2824 [17AP] H.R. 6246 — A bill to amend title 18, United States Code, to require a provider of a report to the CyberTipline related to online sexual exploitation of children to preserve the contents of such report for one year, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H504 [6FE], H1355 [21MR] H.R. 6247 — A bill to modify the scope of the Office of the Special Inspector General for Afghanistan Reconstruction; to the Committee on Foreign Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H433 [5FE], H583 [13FE], H639 [14FE], H684 [16FE] H.R. 6248 — A bill to require Amtrak to report to Congress information on Amtrak compliance with the Americans with Disabilities Act of 1990 with respect to trains and stations; to the Committee on Transportation and Infrastructure. Cosponsors added, H148 [16JA], H318 [30JA], H433 [5FE], H544 [9FE] Reported with amendment (H. Rept. 118–510), H3202 [14MY] Rules suspended. Passed House amended, H3385 [21MY] Text, H3385 [21MY] Message from the House, S3849 [22MY] Referred to the Committee on Commerce, Science, and Transportation, S3849 [22MY] H.R. 6249 — A bill to provide for a review and report on the assistance and resources that the Administrator of the Federal Emergency Management Agency provides to individuals with disabilities and the families of such individuals that are impacted by major disasters, and for other purposes; to the Committee on Transportation and Infrastructure. Reported (H. Rept. 118–392), H685 [20FE] Rules suspended. Passed House, H1071 [11MR] Text, H1071 [11MR] Message from the House, S2364 [12MR] Referred to the Committee on Homeland Security and Governmental Affairs, S2364 [12MR] H.R. 6251 — A bill to establish a grant program to provide schools with opioid overdose reversal drugs, to direct schools receiving Federal funds to report to certain Federal information systems any distribution of an opioid overdose reversal drug, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H3583 [3JN] H.R. 6254 — A bill to direct the Comptroller General of the United States to conduct a review on the Public Buildings Service, and for other purposes; to the Committee on Transportation and Infrastructure. Rules suspended. Passed House, H1069 [11MR] Text, H1069 [11MR] Message from the House, S2364 [12MR] Referred to the Committee on Environment and Public Works, S2364 [12MR] H.R. 6257 — A bill to amend title XVIII of the Social Security Act to provide Medicare coverage of ambulance services that do not include transportation; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2702 [29AP], H3400 [21MY], H3526 [23MY] H.R. 6258 — A bill to amend the Child Abuse Prevention and Treatment Act to disqualify any State that discriminates against parents or guardians who oppose medical, surgical, pharmacological, psychological treatment, or clothing and social changes related to affirming the subjective claims of gender identity expressed by any minor if such claimed identity is inconsistent with such minor’s biological sex from receiving funding under such Act; to the Committee on Education and the Workforce. Cosponsors added, H2368 [12AP], H2399 [15AP] H.R. 6260 — A bill to provide for certain reviews of the use and safety of Federal buildings, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H318 [30JA] Reported with amendment (H. Rept. 118–410), H998 [6MR] Rules suspended. Passed House amended, H1209 [19MR] Text, H1209 [19MR] Message from the House, S2466 [20MR] Referred to the Committee on Environment and Public Works, S2466 [20MR] H.R. 6261 — A bill to direct the Comptroller General to conduct a review on the impact of crime on public building usage, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Oversight and Accountability, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H318 [30JA] Reported with amendment from the Committee on Transportation and Infrastructure (H. Rept. 118–411, part 1), H998 [6MR] Committees on Oversight and Accountability; the Judiciary discharged, H998 [6MR] Rules suspended. Passed House, H1211 [19MR] Text, H1211 [19MR] Message from the House, S2466 [20MR] Referred to the Committee on Environment and Public Works, S2466 [20MR] H.R. 6267 — A bill to amend title 5, United States Code, to establish Election Day as a Federal holiday; to the Committee on Oversight and Accountability. Cosponsors added, H254 [25JA], H1149 [12MR] H.R. 6271 — A bill to amend certain agricultural laws with respect to the definition of biofuels and sustainable aviation fuel, and for other purposes; to the Committee on Agriculture. Cosponsors added, H14 [9JA], H133 [12JA], H273 [29JA], H538 [7FE], H1094 [11MR], H2319 [11AP], H3526 [23MY] H.R. 6276 — A bill to direct the Administrator of General Services and the Director of the Office of Management and Budget to identify the utilization rate of certain public buildings and federally-leased space, and for other purposes; to the Committee on Transportation and Infrastructure. Reported with amendments (H. Rept. 118–384), H580 [13FE] Providing for consideration (H. Res. 1071), H1092 [11MR] Debated, H1116 [12MR] Text, H1121 [12MR] Amendments, H1123, H1124, H1125, H1126 [12MR] Motion to recommit rejected, H1132 [12MR] Passed House amended, H1133 [12MR] Title amended, H1133 [12MR] Engrossment corrections, H1134 [12MR] Message from the House, S2399 [14MR] Referred to the Committee on Environment and Public Works, S2399 [14MR] H.R. 6277 — A bill to amend the Federal Assets Sale and Transfer Act of 2016 to improve such Act, and for other purposes; to the Committee on Transportation and Infrastructure. Reported (H. Rept. 118–414), H1032 [7MR] Rules suspended. Passed House, H1065 [11MR] Text, H1065 [11MR] Message from the House, S2364 [12MR] Referred to the Committee on Environment and Public Works, S2364 [12MR] H.R. 6278 — A bill to direct the Administrator of General Services to identify two Federal agencies to consolidate into the GSA Headquarters Building, and for other purposes; to the Committee on Transportation and Infrastructure. Reported (H. Rept. 118–408), H820 [5MR] H.R. 6279 — A bill to amend the Internal Revenue Code of 1986 to allow certain wearable devices to be purchased using health savings accounts and other spending arrangements and reimbursement accounts; to the Committee on Ways and Means. Cosponsors added, H148 [16JA], H538 [7FE] H.R. 6280 — A bill to authorize additional appropriations for certain U.S. Customs and Border Protection operations, and for other purposes; to the Committee on Homeland Security, and in addition to the Committees on Agriculture, Ways and Means, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H273 [29JA], H504 [6FE], H1058 [8MR] H.R. 6281 — A bill to amend title 18, United States Code, to increase the punishment for certain offenses involving children, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H1058 [8MR] H.R. 6282 — A bill to require a report on detainees in U.S. Customs and Border Protection, U.S. Immigration and Customs Enforcement, or the Office of Refugee Resettlement (ORR) custody, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H681 [15FE] H.R. 6283 — A bill to improve services provided by pharmacy benefit managers; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Education and the Workforce, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H109 [11JA], H190 [17JA], H242 [18JA], H247 [22JA], H366 [31JA], H433 [5FE], H504 [6FE], H583 [13FE], H1094 [11MR], H2253 [9AP], H2399 [15AP], H2629 [23AP], H3330 [16MY] H.R. 6284 — A bill to direct the Secretary of Health and Human Services to establish a working group to formulate recommendations for standardizing the measurements of loneliness and isolation, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H109 [11JA], H697 [26FE], H1236 [19MR], H3682 [7JN] H.R. 6285 — A bill to ratify and approve all authorizations, permits, verifications, extensions, biological opinions, incidental take statements, and any other approvals or orders issued pursuant to Federal law necessary for the establishment and administration of the Coastal Plain oil and gas leasing program, and for other purposes; to the Committee on Natural Resources. Reported with amendment (H. Rept. 118–463), H2395 [15AP] Providing for consideration (H. Res. 1173), H2699 [29AP] Debated, H2804 [1MY] Text, H2804 [1MY] Amendments, H2812 [1MY] Motion to recommit, H2813 [1MY] Motion to recommit rejected, H2814 [1MY] Passed House amended, H2816 [1MY] Message from the House, S3311 [2MY] Referred to the Committee on Energy and Natural Resources, S3312 [2MY] H.R. 6286 — A bill to amend section 212 of the Immigration and Nationality Act to ensure that efforts to engage in espionage or technology transfer are considered in visa issuance, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H504 [6FE], H774 [29FE], H2522 [18AP], H3205 [14MY], H3330 [16MY], H3400 [21MY] H.R. 6288 — A bill to amend the Federal Food, Drug, and Cosmetic Act to provide for a Pediatric Brain Tumor Real-World Data Registry Program, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1236 [19MR] H.R. 6289 — A bill to provide that Executive Order 14027 shall have no force or effect; to the Committee on Foreign Affairs. Cosponsors added, H254 [25JA] H.R. 6293 — A bill to require coverage of incarcerated workers under the Fair Labor Standards Act of 1938, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H273 [29JA], H433 [5FE], H1000 [6MR], H1058 [8MR], H3526 [23MY] H.R. 6296 — A bill to provide for an emergency increase in Federal funding to State Medicaid programs for expenditures on home and community-based services; to the Committee on Energy and Commerce. Cosponsors added, H4064 [13JN] H.R. 6300 — A bill to amend title 38, United States Code, to provide for the elimination of delimiting dates under the educational assistance programs of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H148 [16JA], H504 [6FE], H639 [14FE], H1297 [20MR] H.R. 6301 — A bill to amend the Employee Retirement Income Security Act of 1974 to require a group health plan (or health insurance coverage offered in connection with such a plan) to provide for cost-sharing for oral anticancer drugs on terms no less favorable than the cost-sharing provided for anticancer medications administered by a health care provider; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H254 [25JA], H1149 [12MR], H3486 [22MY] H.R. 6302 — A bill to amend title XXVII of the Public Health Service Act to establish requirements for the disclosure of certain information relating to health care sharing ministries, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H318 [30JA], H684 [16FE], H774 [29FE], H1190 [15MR], H2368 [12AP], H3976 [12JN] H.R. 6306 — A bill to amend the State Department Basic Authorities Act of 1956 to prohibit the acquisition or lease of a consular or diplomatic post built or owned by an entity beneficially owned by the People’s Republic of China, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H1190 [15MR], H1236 [19MR] Rules suspended. Passed House amended, H1194 [19MR] Text, H1194 [19MR] Title amended, H1195 [19MR] Message from the House, S2466 [20MR] Referred to the Committee on Foreign Relations, S2466 [20MR] H.R. 6307 — A bill to prohibit certain actions and require reporting to defend against the economic and national security risks posed by foreign adversarial blockchain networks, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Intelligence (Permanent Select), and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H781 [1MR], H2702 [29AP], H3205 [14MY], H3675 [5JN] H.R. 6311 — A bill to require the Federal Government to produce a national adaptation and resilience strategy, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1236 [19MR], H3583 [3JN] H.R. 6312 — A bill to amend the Federal Election Campaign Act of 1971 to prohibit certain donations to Inaugural Committees, to establish limitations on donations to Inaugural Committees, to require certain reporting by Inaugural Committees, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H583 [13FE] H.R. 6314 — A bill to expand the authorization of voluntary Federal grazing permit retirement, provide increased flexibility for Federal grazing permittees, promote the equitable resolution or avoidance of conflicts on Federal lands managed by the Department of Agriculture or the Department of the Interior, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H583 [13FE] H.R. 6315 — A bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to waive the requirement of certain veterans to make copayments for hospital care and medical services in the case of an error by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H694 [23FE], H1355 [21MR] H.R. 6316 — A bill to amend title 40, United States Code, to establish an expiration date of certain committee resolutions with respect to leases or projects, and for other purposes; to the Committee on Transportation and Infrastructure. Reported (H. Rept. 118–413), H1032 [7MR] Rules suspended. Passed House, H1068 [11MR] Text, H1068 [11MR] Message from the House, S2364 [12MR] Referred to the Committee on Environment and Public Works, S2364 [12MR] H.R. 6317 — A bill to require the Administrator of the General Services Administration to submit a report describing a process for seeking public comment about proposed changes to mandatory design standards for public buildings, and for other purposes; to the Committee on Transportation and Infrastructure. Reported (H. Rept. 118–409), H998 [6MR] H.R. 6318 — A bill to require the Secretary of Housing and Urban Development to identify and make available information regarding best practices utilizing mixed-income, publicly owned housing to increase the supply of affordable housing, and for other purposes; to the Committee on Financial Services. Cosponsors added, H53 [10JA], H1236 [19MR] H.R. 6319 — A bill to require the Director of the Office of Management and Budget to review and make certain revisions to the Standard Occupational Classification System, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H53 [10JA], H190 [17JA], H433 [5FE], H504 [6FE], H739 [28FE], H774 [29FE], H824 [5MR], H1000 [6MR], H1149 [12MR], H1297 [20MR], H2253 [9AP], H2291 [10AP], H2319 [11AP], H2522 [18AP], H3275 [15MY], H3583 [3JN], H3657 [4JN] H.R. 6321 — A bill to establish a manufactured housing community improvement grant program, and for other purposes; to the Committee on Financial Services. Cosponsors added, H824 [5MR] H.R. 6322 — A bill to evaluate and disrupt financing to Hamas, and to amend title 31, United States Code, to prohibit the exchange stabilization fund from being used to deal in Special Drawing Rights from state sponsors of terrorism, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2522 [18AP], H2559 [19AP], H2629 [23AP] H.R. 6323 — A bill to modify the availability of certain waiver authorities with respect to sanctions imposed with respect to the financial sector of Iran, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2399 [15AP] Reported with amendment from the Committee on Financial Services (H. Rept. 118–458, part 1), H2395 [15AP] Committee on Foreign Affairs discharged, H2395 [15AP] Text, H2437 [16AP] Providing for consideration (H. Res. 1149), H2443 [16AP] Passed House amended, H2483 [17AP] Message from the House, S2870 [18AP] Referred to the Committee on Banking, Housing, and Urban Affairs, S2870 [18AP] H.R. 6327 — A bill to improve the financial literacy of secondary school students; to the Committee on Education and the Workforce. Cosponsors added, H2143 [5AP] H.R. 6328 — A bill to promote equity in advanced coursework and programs at elementary and secondary schools; to the Committee on Education and the Workforce. Cosponsors added, H3007 [10MY], H3657 [4JN] H.R. 6330 — A bill to direct the Secretary of Veterans Affairs to carry out a pilot program to collect and analyze data regarding suicides and attempted suicides by veterans on the property of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H318 [30JA], H504 [6FE], H583 [13FE], H1058 [8MR], H3727 [11JN] H.R. 6331 — A bill to require the Secretary of Veterans Affairs to establish a pilot program to furnish doula services to veterans; to the Committee on Veterans’ Affairs. Cosponsors added, H190 [17JA], H544 [9FE], H583 [13FE], H774 [29FE] H.R. 6335 — A bill to require the Bureau of the Census to collect information on citizenship status through the decennial census, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H504 [6FE] H.R. 6337 — A bill to authorize the Secretary of Veterans Affairs to make grants to veterans service organizations for facility and technology improvements, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H14 [9JA] H.R. 6339 — A bill to prohibit withholding or revoking Federal funds based on the definition of ‘‘sex’’ used by a State, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H273 [29JA] H.R. 6341 — A bill to amend title 18, United States Code, to divert certain parents of minor children, expectant parents, and other caregivers from incarceration and into comprehensive programs providing resources, services, and training to those individuals; to the Committee on the Judiciary. Cosponsors added, H109 [11JA] H.R. 6342 — A bill to promote and enhance outdoor recreation opportunities for members of the Armed Forces and veterans on Federal recreational lands and waters; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H148 [16JA], H318 [30JA], H1094 [11MR], H1236 [19MR] H.R. 6345 — A bill to amend the Internal Revenue Code of 1986 to provide the work opportunity tax credit with respect to hiring veterans who are receiving educational assistance under laws administered by the Secretary of Veterans Affairs or Defense; to the Committee on Ways and Means. Cosponsors added, H583 [13FE] H.R. 6348 — A bill to direct the Secretary of Energy to establish a grant program to facilitate tree planting that reduces residential energy consumption, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1034 [7MR], H1355 [21MR], H2253 [9AP], H3275 [15MY], H4110 [14JN] H.R. 6349 — A bill to prohibit or require notification with respect to certain activities of United States persons involving countries of concern, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H109 [11JA], H148 [16JA], H190 [17JA], H1034 [7MR] H.R. 6351 — A bill to establish the Commission on National Agricultural Statistics Service Modernization to modernize the data collection and reporting processes of the National Agricultural Statistics Service, and for other purposes; to the Committee on Agriculture. Cosponsors added, H133 [12JA], H190 [17JA], H254 [25JA] H.R. 6352 — A bill to transfer a portion of the firearms transfer tax imposed under the Internal Revenue Code of 1986 to the Federal aid to wildlife restoration fund and the Conservation of America’s Wildlife Trust Fund, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on the Judiciary, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H433 [5FE], H639 [14FE], H2319 [11AP], H2938 [7MY] H.R. 6355 — A bill to amend the Combat Duty Pay Act of 1952 to require that former members of the uniformed services who were captured or entered a missing-in-action status during the Korean War while serving as a member of a combat unit in Korea receive combat pay for each month spent in a captured or missing-in-action status, rather than just a total of four months; to the Committee on Armed Services. Cosponsors added, H273 [29JA] H.R. 6361 — A bill to amend the Housing and Community Development Act of 1974 to set aside community development block grant amounts in each fiscal year for grants to local chapters of veterans service organizations for the renovation, rehabilitation, and modernization of local chapter facilities; to the Committee on Financial Services. Cosponsors added, H639 [14FE], H739 [28FE] H.R. 6362 — A bill to amend title 38, United States Code, to codify the authority of the Secretary of Veterans Affairs to assign a disability rating of total to a veteran by reason of unemployability, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H366 [31JA], H681 [15FE], H2253 [9AP] H.R. 6364 — A bill to amend title XVIII of the Social Security Act to maintain certain telehealth flexibilities relating to provider privacy under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2291 [10AP] H.R. 6368 — A bill to assist Tribal governments in the management of buffalo and buffalo habitat and the reestablishment of buffalo on Indian land; to the Committee on Natural Resources. Cosponsors added, H1094 [11MR], H1297 [20MR] H.R. 6370 — A bill to require the Office of Foreign Assets Control to develop a program under which private sector firms may receive a license to conduct nominal financial transactions in furtherance of the firms’ investigations, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported with amendments from the Committee on Financial Services (H. Rept. 118–341, part 1), H12 [9JA] Committee on Foreign Affairs discharged, H12 [9JA] Text, H37 [10JA] Rules suspended. Passed House amended, H126 [12JA] Message from the House, S121 [16JA] Referred to the Committee on Banking, Housing, and Urban Affairs, S121 [16JA] H.R. 6371 — A bill to provide for certain adjustments to the physician fee schedule under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE], H2702 [29AP], H3000 [8MY] H.R. 6373 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to offer annual preventative health evaluations to veterans with a spinal cord injury or disorder and increase access to assistive technologies, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H133 [12JA], H504 [6FE], H774 [29FE], H2876 [6MY], H4115 [18JN] H.R. 6374 — A bill to provide for the issuance of a Veterans Health Care Stamp; to the Committee on Oversight and Accountability, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H639 [14FE], H4064 [13JN] H.R. 6377 — A bill to establish a grant program for States to support apprentices in apprenticeships programs, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H190 [17JA], H273 [29JA], H433 [5FE], H639 [14FE], H681 [15FE], H1236 [19MR], H3275 [15MY], H3583 [3JN], H4115 [18JN] H.R. 6378 — A bill to permit the remains of any Medal of Honor recipient to lie in honor in the rotunda of the United States Capitol, and for other purposes; to the Committee on House Administration. Cosponsors added, H433 [5FE] H.R. 6379 — A bill to amend the Food, Conservation, and Energy Act of 2008 to reauthorize the Farm and Ranch Stress Assistance Network; to the Committee on Agriculture. Cosponsors added, H1034 [7MR], H2629 [23AP] H.R. 6381 — A bill to require the Secretary of Homeland Security to establish a veterans visa program to permit veterans who have been removed from the United States to return as immigrants, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Armed Services, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H774 [29FE], H1000 [6MR], H2253 [9AP], H2319 [11AP], H3583 [3JN] H.R. 6384 — A bill to expand capacity in quantum information science, engineering, and technology, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H2771 [30AP] H.R. 6388 — A bill to authorize the Secretary of Health and Human Services, acting through the Administration for Community Living, to carry out a grant program for States to provide telephone reassurance services to certain older adults and to other adults with disabilities, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1094 [11MR], H3675 [5JN] H.R. 6394 — A bill to provide for the creation of a Congressional time capsule in commemoration of the semiquincentennial of the United States, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H190 [17JA], H242 [18JA], H318 [30JA], H366 [31JA], H583 [13FE], H697 [26FE], H1000 [6MR], H1149 [12MR], H1355 [21MR], H2559 [19AP], H2636 [26AP], H2702 [29AP], H2876 [6MY], H3486 [22MY], H4110 [14JN], H4115 [18JN] H.R. 6395 — A bill to amend the Energy Act of 2020 to require the Secretary of the Interior to include the Secretary of Health and Human Services in consultations regarding designations of critical minerals, elements, substances, and materials; to the Committee on Natural Resources. Cosponsors added, H2831 [1MY] H.R. 6398 — A bill to increase the asset thresholds at which financial institutions become subject to certain requirements, and for other purposes; to the Committee on Financial Services. Cosponsors added, H3007 [10MY] H.R. 6404 — A bill to direct the Secretary of Homeland Security to enhance border security by disrupting the smuggling of United States-sourced firearms and related munitions across the land border with Mexico, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H3526 [23MY] H.R. 6405 — A bill to amend title 18, United States Code, to protect more victims of domestic violence by preventing their abusers from possessing or receiving firearms and to amend the Omnibus Crime Control and Safe Streets Act of 1968 to establish a grant program relating to the removal of firearms from adjudicated domestic violence offenders, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H739 [28FE] H.R. 6406 — A bill to amend title 10, United States Code, to establish the Last Servicemember Standing Medal; to the Committee on Armed Services. Cosponsors added, H2636 [26AP], H3531 [24MY], H3543 [31MY] H.R. 6407 — A bill to amend title XVIII of the Social Security Act to expand the availability of medical nutrition therapy services under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H684 [16FE], H2121 [26MR], H2130 [29MR], H2291 [10AP], H2629 [23AP] H.R. 6408 — A bill to amend the Internal Revenue Code of 1986 to terminate the tax-exempt status of terrorist supporting organizations; to the Committee on Ways and Means. Text, H2371 [15AP] Rules suspended. Passed House amended, H2383 [15AP] Message from the House, S2785 [16AP] Referred to the Committee on Finance, S2787 [16AP] H.R. 6409 — A bill to amend the Consolidated Omnibus Budget Reconciliation Act of 1985 to provide authority to adjust the rate of merchandise processing fees to offset the capital costs incurred by U.S. Customs and Border Protection, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H694 [23FE], H3358 [17MY] H.R. 6411 — A bill to encourage the research and use of innovative materials and associated techniques in the construction and preservation of the domestic transportation and water infrastructure system, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Science, Space, and Technology, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H781 [1MR] H.R. 6412 — A bill to amend title XXVII of the Public Health Service Act to provide certain informational resources related to Down syndrome; to the Committee on Energy and Commerce. Cosponsors added, H781 [1MR] H.R. 6413 — A bill to amend the Farm Security and Rural Investment Act of 2002 to improve biorefinery, renewable chemical, and biobased product manufacturing assistance, and for other purposes; to the Committee on Agriculture. Cosponsors added, H3675 [5JN] H.R. 6414 — A bill to make Ecuador eligible for designation as a beneficiary country under the Caribbean Basin Economic Recovery Act; to the Committee on Ways and Means. Cosponsors added, H681 [15FE], H739 [28FE], H1236 [19MR], H2771 [30AP], H3657 [4JN], H3727 [11JN] H.R. 6415 — A bill to increase access to mental health, substance use, and counseling services for first responders, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H190 [17JA], H247 [22JA], H274 [29JA], H583 [13FE], H639 [14FE], H1000 [6MR], H2130 [29MR], H2253 [9AP], H2319 [11AP], H3000 [8MY], H3007 [10MY], H3205 [14MY], H3531 [24MY] H.R. 6416 — A bill to amend the Internal Revenue Code of 1986 to impose certain tax penalties in connection with the invasion of Ukraine; to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H739 [28FE], H1297 [20MR], H2445 [16AP] H.R. 6417 — A bill to amend the Ending Importation of Russian Oil Act to provide for a prohibition on importation of energy products produced at refineries outside the Russian Federation; to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H739 [28FE], H1034 [7MR], H1355 [21MR] H.R. 6418 — A bill to modify the program of grants to support high-quality charter schools; to the Committee on Education and the Workforce. Cosponsors added, H1355 [21MR], H2121 [26MR] Reported with amendment (H. Rept. 118–540), H3654 [4JN] H.R. 6421 — A bill to prohibit the Secretary of Energy from enforcing energy efficiency standards applicable to manufactured housing, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H366 [31JA], H1094 [11MR] Reported (H. Rept. 118–424), H1146 [12MR] H.R. 6423 — A bill to amend the Food and Nutrition Act of 2008 to provide certain alternative eligibility requirements applicable to foster care youth, and homeless youth, who are enrolled at least half-time in an institution of higher education, and for other purposes; to the Committee on Agriculture. Cosponsors added, H318 [30JA], H2121 [26MR] H.R. 6424 — A bill to provide additional authorities for the leadership of the United States Agency for International Development in health technology innovation for global health in low-resource settings, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H688 [20FE], H1182 [13MR], H2136 [2AP], H2253 [9AP] H.R. 6425 — A bill to direct the Secretary of Defense to establish a working group to develop and coordinate an artificial intelligence initiative among the Five Eyes countries, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Armed Services, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H433 [5FE], H739 [28FE], H1094 [11MR], H2445 [16AP] H.R. 6428 — A bill to help individuals receiving disability insurance benefits under title II of the Social Security Act obtain rehabilitative services and return to the workforce, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H2623 [20AP], H3205 [14MY] H.R. 6429 — A bill to require certain interactive computer services to adopt and operate technology verification measures to ensure that users of the platform are not minors, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H433 [5FE], H583 [13FE], H824 [5MR] H.R. 6430 — A bill to amend title XVIII of the Social Security Act to extend Medicare-dependent hospital and Medicare low-volume hospital payments, and to direct the Comptroller General of the United States to carry out a report on Medicare rural hospital classifications; to the Committee on Ways and Means. Cosponsors added, H824 [5MR] H.R. 6431 — A bill to suspend the designation of the State of Qatar as a major non-NATO ally; to the Committee on Foreign Affairs. Cosponsors added, H433 [5FE] H.R. 6432 — A bill to prohibit the use of funds to implement, administer, or enforce measures requiring certain employees to refer to an individual by the preferred pronouns of such individual or a name other than the legal name of such individual, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H274 [29JA] H.R. 6433 — A bill to preserve access to emergency medical services; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H504 [6FE], H583 [13FE], H639 [14FE], H684 [16FE], H697 [26FE], H3486 [22MY] H.R. 6435 — A bill to ensure that a declaration for a major disaster or emergency is made on a timely basis, rural areas receive assistance, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H3400 [21MY] H.R. 6437 — A bill to extend eligibility for programs under title IV of the Social Security Act to the Commonwealth of the Northern Mariana Islands, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H274 [29JA], H583 [13FE], H774 [29FE] H.R. 6438 — A bill to amend the Internal Revenue Code of 1986 to extend expensing of environmental remediation costs; to the Committee on Ways and Means. Cosponsors added, H190 [17JA], H247 [22JA], H739 [28FE], H1000 [6MR], H1236 [19MR], H2143 [5AP] H.R. 6441 — A bill to allow holders of certain grazing permits to make minor range improvements and to require that the Secretary of Agriculture and the Secretary of the Interior respond to requests for range improvements within 30 days, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3976 [12JN], H4115 [18JN] H.R. 6443 — A bill to take certain land in the State of California into trust for the benefit of the Jamul Indian Village of California Tribe, and for other purposes; to the Committee on Natural Resources. Reported (H. Rept. 118–440), H2140 [5AP] Rules suspended. Passed House, H2154 [9AP] Text, H2154 [9AP] Message from the House, S2704 [10AP] Referred to the Committee on Indian Affairs, S2704 [10AP] H.R. 6445 — A bill to amend title XVIII of the Social Security Act to improve coverage of audiology services under the Medicare program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H681 [15FE], H781 [1MR], H1182 [13MR] H.R. 6446 — A bill to require the Administrator of the Federal Aviation Administration to establish an education program on unleaded aviation gasoline, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H739 [28FE], H774 [29FE] H.R. 6448 — A bill to require the Administrator of the Federal Aviation Administration to conduct a study to compare the effects of allowing certain aircraft certified under part 23 of title 14, Code of Federal Regulations, to operate under part 121 of such title, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H2702 [29AP] H.R. 6450 — A bill to provide for a National Disaster Safety Board, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H1190 [15MR], H2130 [29MR] H.R. 6451 — A bill to amend the Public Health Service Act to authorize grants to States, Indian Tribes, Tribal organizations, and political subdivisions thereof to hire, employ, train, and dispatch mental health professionals to respond in lieu of law enforcement officers in emergencies involving one or more persons with a mental illness or an intellectual or developmental disability, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H190 [17JA], H247 [22JA], H254 [25JA], H433 [5FE], H504 [6FE], H544 [9FE], H583 [13FE], H639 [14FE], H739 [28FE], H1182 [13MR], H2130 [29MR], H2143 [5AP], H2253 [9AP], H2319 [11AP], H2368 [12AP], H2503 [17AP], H2771 [30AP], H3007 [10MY], H3275 [15MY], H3358 [17MY], H3657 [4JN], H3682 [7JN], H4115 [18JN] H.R. 6452 — A bill to amend title 38, United States Code, to establish in the Department of Veterans Affairs a Veterans Scam and Fraud Evasion Officer, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H254 [25JA], H2253 [9AP], H2876 [6MY], H3275 [15MY], H3330 [16MY] H.R. 6455 — A bill to establish the Global Climate Change Resilience Strategy, to authorize the admission of climate-displaced persons into the United States, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE], H681 [15FE], H739 [28FE], H824 [5MR], H2253 [9AP], H2876 [6MY], H2938 [7MY], H3330 [16MY] H.R. 6457 — A bill to require the Administrator of the Small Business Administration to establish a grant program to create or expand programs at minority-serving institutions relating to minority entrepreneurship and business ownership, and for other purposes; to the Committee on Small Business. Cosponsors added, H544 [9FE], H2319 [11AP] H.R. 6459 — A bill to amend title XI of the Social Security Act to limit demonstration projects related to abortion under Medicaid and CHIP; to the Committee on Energy and Commerce. Cosponsors added, H190 [17JA] H.R. 6460 — A bill to prohibit the Secretary of Health and Human Services from issuing, finalizing, implementing, or enforcing any rule or guidance to facilitate abortions or access to abortions for an unaccompanied alien child; to the Committee on the Judiciary. Cosponsors added, H109 [11JA] H.R. 6461 — A bill to ensure that claims for benefits under the Black Lung Benefits Act are processed in a fair and timely manner, to better protect miners from pneumoconiosis (commonly known as ‘‘black lung disease’’), and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H274 [29JA] H.R. 6463 — A bill to require the publication of the terms of service of certain social media company platforms; to the Committee on Energy and Commerce, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H274 [29JA], H366 [31JA], H390 [1FE] H.R. 6465 — A bill to amend title XVIII of the Social Security Act to provide a phase-in for plasma-derived products under the manufacturer discount program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H583 [13FE] H.R. 6466 — A bill to require disclosures for AI-generated content, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H1034 [7MR] H.R. 6467 — A bill to require a report on expenditures for contracts for advertising services, and for other purposes; to the Committee on the Budget. Cosponsors added, H3205 [14MY] H.R. 6468 — A bill to provide that certain water beads products shall be considered banned hazardous products under section 8 of the Consumer Product Safety Act, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H1058 [8MR], H2702 [29AP], H2831 [1MY], H2938 [7MY] H.R. 6469 — A bill to amend the Agricultural Foreign Investment Disclosure Act of 1978 to remove the limitation on the amount of a civil penalty, and for other purposes; to the Committee on Agriculture. Cosponsors added, H366 [31JA], H2636 [26AP] H.R. 6470 — A bill to provide for outreach to build awareness among former members of the Armed Forces of the process established pursuant to section 527 of the National Defense Authorization Act for Fiscal Year 2020 for the review of discharge characterizations, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H390 [1FE], H639 [14FE], H694 [23FE], H739 [28FE], H1149 [12MR], H4110 [14JN] H.R. 6471 — A bill to amend the Federal Election Campaign Act of 1971 to prohibit contributions and donations by foreign nationals in connection with State or local ballot initiatives or referenda and recall elections; to the Committee on House Administration. Cosponsors added, H697 [26FE] H.R. 6480 — A bill to provide for conditional lawful permanent residency for certain aliens; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H681 [15FE] H.R. 6482 — A bill to amend the Geothermal Steam Act of 1970 to promote timely exploration for geothermal resources under geothermal leases, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H1000 [6MR] H.R. 6485 — A bill to ensure that organizations with religious or moral convictions are allowed to continue to provide services for children; to the Committee on Ways and Means. Cosponsors added, H53 [10JA] H.R. 6487 — A bill to amend title XI of the Social Security Act to prohibit health plans from imposing fees on health care providers for electronic funds transfers and health care payment and remittance advice transactions, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H639 [14FE], H739 [28FE], H774 [29FE], H2445 [16AP], H2629 [23AP], H2938 [7MY], H3486 [22MY] H.R. 6489 — A bill to amend the Alaska Native Claims Settlement Act to provide that Village Corporations shall not be required to convey land in trust to the State of Alaska for the establishment of Municipal Corporations, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H694 [23FE] H.R. 6490 — A bill to amend title XVIII of the Social Security Act to limit the penalty for late enrollment under part B of the Medicare Program to 15 percent and twice the period of no enrollment, and to exclude periods of COBRA, retiree, and VA coverage from such late enrollment penalty; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR], H1236 [19MR], H4115 [18JN] H.R. 6492 — A bill to improve recreation opportunities on, and facilitate greater access to, Federal public land, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H53 [10JA], H242 [18JA], H274 [29JA], H433 [5FE], H583 [13FE], H639 [14FE], H694 [23FE], H824 [5MR], H1236 [19MR], H2130 [29MR] Reported with amendment from the Committee on Natural Resources (H. Rept. 118–441, part 1), H2140 [5AP] Committees on Veterans’ Affairs; Agriculture discharged, H2140 [5AP] Debated, H2162 [9AP] Text, H2162 [9AP] Rules suspended. Passed House amended, H2189 [9AP] Message from the House, S2704 [10AP] H.R. 6495 — A bill to amend the Internal Revenue Code of 1986 to ensure that low alcohol by volume kombucha is exempt from any excise taxes and any regulations under chapter 53 of such Code which are imposed on alcoholic beverages; to the Committee on Ways and Means. Cosponsors added, H148 [16JA] H.R. 6497 — A bill to amend the Watershed Protection and Flood Prevention Act to improve that Act, and for other purposes; to the Committee on Agriculture. Cosponsors added, H366 [31JA] H.R. 6498 — A bill to amend the Internal Revenue Code of 1986 to impose a minimum tax on certain wealthy taxpayers that takes into account unrealized gains; to the Committee on Ways and Means. Cosponsors added, H3400 [21MY] H.R. 6500 — A bill to amend title 18, United States Code, to establish an Office of Prison Education, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2702 [29AP] H.R. 6502 — A bill to prohibit representatives of the United States from voting at the International Monetary Fund for any Special Drawing Rights allocations, quota increases, or policy modifications that would benefit certain countries, and for other purposes; to the Committee on Financial Services. Cosponsors added, H53 [10JA] H.R. 6503 — A bill to amend title 49, United States Code, to extend authorizations for the airport improvement program, to amend the Internal Revenue Code of 1986 to extend the funding and expenditure authority of the Airport and Airway Trust Fund, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Ways and Means, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Message from the House (received December 22, 2023, during adjournment), S15 [8JA] Examined and signed in the Senate (December 26, 2023, during adjournment), S15 [8JA] Approved [Public Law 118–34] (signed December 26, 2023) H.R. 6504 — A bill to prohibit actions to carry out the Department of Commerce’s pause in the issuance of new export licenses for certain exports under the Commerce Control List; to the Committee on Foreign Affairs. Cosponsors added, H14 [9JA], H53 [10JA], H190 [17JA], H433 [5FE] H.R. 6506 — A bill to amend the National Trails System Act to direct the Secretary of the Interior to conduct a study on the feasibility of designating Washington’s Trail - 1753 as a national historic trail, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H109 [11JA] H.R. 6508 — A bill to require the Administrator of the Environmental Protection Agency to ensure that flexible fuel vehicles may use certain gram per mile carbon dioxide values for purposes of determining fleet average carbon dioxide standards for certain vehicles; to the Committee on Energy and Commerce. Cosponsors added, H366 [31JA] H.R. 6510 — A bill to direct the Secretary of Transportation to study certain composite material pipelines, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H4115 [18JN] H.R. 6513 — A bill to amend the Help America Vote Act of 2002 to confirm the requirement that States allow access to designated congressional election observers to observe the election administration procedures in congressional elections; to the Committee on House Administration. Reported (H. Rept. 118–361), H270 [29JA] H.R. 6514 — A bill to require agencies to notify the Archivist of the date on which a final rule is submitted to Congress and the Government Accountability Office; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR] H.R. 6515 — A bill to combat illegal deforestation by prohibiting the importation of products made wholly or in part of certain commodities produced on land undergoing illegal deforestation, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Foreign Affairs, Financial Services, Oversight and Accountability, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H274 [29JA], H583 [13FE], H681 [15FE], H739 [28FE], H824 [5MR], H1499 [22MR], H2253 [9AP], H2503 [17AP], H3000 [8MY], H3275 [15MY] H.R. 6516 — A bill to reauthorize the Director of the United States Holocaust Memorial Museum to support Holocaust education programs, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H109 [11JA], H254 [25JA], H504 [6FE], H538 [7FE], H544 [9FE], H2771 [30AP], H3400 [21MY], H3583 [3JN] H.R. 6519 — A bill to amend the Federal Food, Drug, and Cosmetic Act to ban the use of intentionally added perfluoroalkyl or polyfluoroalkyl substances in cosmetics, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H433 [5FE], H544 [9FE], H684 [16FE], H2938 [7MY] H.R. 6520 — A bill to exclude individuals who are not citizens of the United States from the number of persons used to determine the apportionment of Representatives and the number of electoral votes; to the Committee on Oversight and Accountability. Cosponsors added, H694 [23FE] H.R. 6521 — A bill to authorize a Law Enforcement Education Grant program to encourage students to pursue a career in law enforcement; to the Committee on Education and the Workforce. Cosponsors added, H3358 [17MY] H.R. 6522 — A bill to require the Secretary of Homeland Security to fingerprint noncitizen minors entering the United States who are suspected of being victims of human trafficking, to require the Secretary to publicly disclose the number of such minors who are fingerprinted by U.S. Customs and Border Protection (CBP) officials and the number of child traffickers who are apprehended by CBP, to impose criminal penalties on noncitizen adults who use unrelated minors to gain entry into the United States, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H274 [29JA], H538 [7FE] H.R. 6523 — A bill to require the Department of Homeland Security to publish various publications and reports regarding the number of aliens seeking entry along the southern border of the United States; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2559 [19AP] H.R. 6524 — A bill to authorize the Director of the Cybersecurity and Infrastructure Security Agency to establish an apprenticeship program and to establish a pilot program on cybersecurity training for veterans and members of the Armed Forces transitioning to civilian life, and for other purposes; to the Committee on Homeland Security, and in addition to the Committees on Education and the Workforce, Oversight and Accountability, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H433 [5FE], H2253 [9AP], H2399 [15AP], H2876 [6MY], H3330 [16MY], H4064 [13JN] H.R. 6525 — A bill to provide mandatory funding for hazardous fuels reduction projects on certain Federal land, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H274 [29JA] H.R. 6530 — A bill to amend the Energy Act of 2020 to provide for energy parity, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H242 [18JA], H2636 [26AP] H.R. 6531 — A bill to direct the Secretary of Veterans Affairs to develop a training program for certain senior executives and supervisors employed by the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. Cosponsors added, H583 [13FE] H.R. 6532 — A bill to amend the Internal Revenue Code of 1986 to provide credits for the production of renewable chemicals and investments in renewable chemical production facilities, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H2445 [16AP] H.R. 6534 — A bill to establish a home-based telemental health care demonstration program for purposes of increasing mental health and substance use services in rural medically underserved populations and for individuals in farming, fishing, and forestry occupations; to the Committee on Energy and Commerce. Cosponsors added, H504 [6FE], H774 [29FE] H.R. 6538 — A bill to amend title 38, United States Code, to provide for a definition of ‘‘establishment, determination, or adjustment of employee compensation’’ for purposes of the collective bargaining of certain Department of Veterans Affairs employees; to the Committee on Veterans’ Affairs. Cosponsors added, H53 [10JA], H318 [30JA], H433 [5FE], H504 [6FE], H583 [13FE], H781 [1MR], H1000 [6MR], H1034 [7MR], H1058 [8MR], H1149 [12MR], H1355 [21MR], H2136 [2AP], H2253 [9AP], H2319 [11AP], H2445 [16AP], H2503 [17AP], H2771 [30AP], H3275 [15MY], H3976 [12JN] H.R. 6541 — A bill to provide for the liquidation or reliquidation of certain entries of steel and aluminum products retroactively approved for exclusion from certain duties; to the Committee on Ways and Means. Cosponsors added, H697 [26FE], H1297 [20MR], H1355 [21MR] H.R. 6542 — A bill to amend the Immigration and Nationality Act to eliminate the per-country numerical limitation for employment-based immigrants, to increase the per-country numerical limitation for family sponsored immigrants, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H109 [11JA], H190 [17JA], H318 [30JA], H390 [1FE], H583 [13FE], H639 [14FE], H694 [23FE], H739 [28FE], H824 [5MR], H1149 [12MR], H2253 [9AP] Removal of cosponsors, H1035 [7MR] H.R. 6543 — A bill to prohibit unfair and deceptive advertising of prices for hotel rooms and other places of short-term lodging, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H697 [26FE] Reported (H. Rept. 118–500), H3003 [10MY] Text, H3704 [11JN] Rules suspended. Passed House, H3709 [11JN] Message from the House, S4049 [12JN] Referred to the Committee on Commerce, Science, and Transportation, S4049 [12JN] H.R. 6544 — A bill to advance the benefits of nuclear energy by enabling efficient, timely, and predictable licensing, regulation, and deployment of nuclear energy technologies, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Science, Space, and Technology, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Reported with amendment from the Committee on Energy and Commerce (H. Rept. 118–391, part 1), H684 [16FE] Committees on Science, Space, and Technology; Foreign Affairs discharged, H684 [16FE] Debated, H703 [28FE] Text, H703 [28FE] Rules suspended. Passed House amended, H730 [28FE] Message from the House, S1075 [29FE] Referred to the Committee on Environment and Public Works, S1075 [29FE] H.R. 6545 — A bill to amend title XVIII of the Social Security Act to make improvements to the physician fee schedule under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H3275 [15MY], H3583 [3JN], H3657 [4JN], H3727 [11JN] H.R. 6546 — A bill to amend the Endangered Species Act of 1973 to allow certain activities to be carried out with regard to certain fish held in captivity or a controlled environment; to the Committee on Natural Resources. Cosponsors added, H688 [20FE] H.R. 6547 — A bill to prohibit the Secretary of the Interior from implementing the Draft Resource Management Plan and Draft Supplemental Environmental Impact Statement for the Colorado River Valley Field Office and Grand Junction Field Office Resource Management Plans; to the Committee on Natural Resources. Cosponsors added, H274 [29JA] H.R. 6551 — A bill to amend title 38, United States Code, to increase the payments or allowances that individuals, including veterans service organizations, receive for transportation of veterans to or from facilities of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H1182 [13MR], H1236 [19MR] H.R. 6553 — A bill to require the waiver of costs of activities relating to the evacuation of United States citizens endangered by acts of terrorism or war in Israel instigated by Hamas and other Islamist militant groups; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H318 [30JA] H.R. 6554 — A bill to amend the Internal Revenue Code of 1986 to allow a refundable credit against tax for the purchase of communications signal boosters in areas with inadequate broadband internet access service, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H433 [5FE] H.R. 6555 — A bill to modify the competitive need limitation with respect to the generalized system of preferences, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H190 [17JA], H366 [31JA], H694 [23FE], H739 [28FE], H1236 [19MR], H2253 [9AP] H.R. 6558 — A bill to prohibit the issuance of the rule entitled ‘‘Upholding Civil Service Protections and Merit System Principles’’ or any successor rule; to the Committee on Oversight and Accountability. Cosponsors added, H3543 [31MY] H.R. 6563 — A bill to repeal a requirement for the Secretary of Transportation to issue certain regulations with respect to advanced impaired driving technology, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H190 [17JA] H.R. 6564 — A bill to allow the Farm Credit Administration the option to examine low-risk Farm Credit System institutions under a 24-month cycle; to the Committee on Agriculture. Cosponsors added, H1149 [12MR] H.R. 6566 — A bill to authorize the Secretary of Education to make grants to local educational agencies to make physical improvements at the elementary schools and secondary schools served by such agencies, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H318 [30JA] H.R. 6567 — A bill to require the Federal Emergency Management Agency to establish a Territorial Disaster Recovery Program to continuously identify, monitor, and address factors and capability gaps that hinder the execution and completion of recovery activities relating to major disasters by eligible entities located in the territories of the United States; to the Committee on Transportation and Infrastructure. Cosponsors added, H3543 [31MY] H.R. 6569 — A bill to improve purchasing of food by the Department of Agriculture, and for other purposes; to the Committee on Agriculture. Cosponsors added, H318 [30JA] H.R. 6571 — A bill to establish a critical supply chain resiliency and crisis response program in the Department of Commerce, and to secure American leadership in deploying emerging technologies, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1190 [15MR], H2399 [15AP] Reported with amendment (H. Rept. 118–473), H2634 [26AP] Debated, H3035 [14MY] Text, H3035 [14MY] Rules suspended. Passed House amended, H3257 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on Commerce, Science, and Transportation, S3752 [16MY] H.R. 6572 — A bill to direct the Secretary of Commerce to take actions necessary and appropriate to promote the competitiveness of the United States related to the deployment, use, application, and competitiveness of blockchain technology or other distributed ledger technology, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H1190 [15MR] Reported with amendment (H. Rept. 118–501), H3003 [10MY] Text, H3040 [14MY] Rules suspended. Passed House amended, H3256 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on Commerce, Science, and Transportation, S3752 [16MY] H.R. 6573 — A bill to prohibit data brokers from selling, reselling, trading, licensing, or otherwise providing for consideration lists of military servicemembers to a covered nation; to the Committee on Energy and Commerce. Cosponsors added, H190 [17JA], H1000 [6MR] H.R. 6576 — A bill to improve the full-service community school program, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H1149 [12MR] H.R. 6578 — A bill to establish the Commission to Study Acts of Antisemitism in the United States; to the Committee on the Judiciary. Cosponsors added, H53 [10JA], H254 [25JA] H.R. 6579 — A bill to provide that, if an individual is expelled from Congress, any Member service previously rendered by that individual shall be noncreditable for purposes of determining eligibility for or the amount of any benefits which might otherwise be payable out of the Civil Service Retirement and Disability Fund based on the service of that individual, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H639 [14FE] H.R. 6580 — A bill to require that a foreign purchaser of agricultural land be subject to the same restrictions as are applicable to United States citizens and nationals in the home country of such foreign purchaser; to the Committee on Agriculture. Cosponsors added, H254 [25JA], H688 [20FE] H.R. 6581 — A bill to amend the Age Discrimination in Employment Act of 1967 and other laws to clarify appropriate standards for Federal employment discrimination and retaliation claims, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H53 [10JA] H.R. 6586 — A bill to require a strategy to oppose financial or material support by foreign countries to the Taliban, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H318 [30JA] H.R. 6591 — A bill to amend section 8(a) of the Small Business Act to require the Administrator of the Small Business Administration to regularly reassess the asset and net worth thresholds for qualifying as an economically disadvantaged individual, and for other purposes; to the Committee on Small Business. Cosponsors added, H133 [12JA], H274 [29JA] Reported with amendment (H. Rept. 118–379), H542 [9FE] Rules suspended. Passed House amended, H725 [28FE] Text, H725 [28FE] Message from the House, S1075 [29FE] Referred to the Committee on Small Business and Entrepreneurship, S1075 [29FE] H.R. 6592 — A bill to authorize the Secretary of Education to provide grants to local educational agencies to cover the costs of challenges to determinations not to discontinue the use of specific instructional materials, or the availability of specific school library materials, in public elementary and secondary schools, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H109 [11JA], H133 [12JA], H583 [13FE], H639 [14FE], H697 [26FE], H739 [28FE], H2702 [29AP] H.R. 6593 — A bill to require that the regulations related to SAVE Plan shall have the force and effect of enacted law; to the Committee on Education and the Workforce. Cosponsors added, H109 [11JA], H242 [18JA], H681 [15FE] H.R. 6594 — A bill to amend the Internal Revenue Code of 1986 to expand the deduction for student loan interest to include payments toward principal, and to increase the value of the deduction; to the Committee on Ways and Means. Cosponsors added, H242 [18JA], H681 [15FE] H.R. 6596 — A bill to end the epidemic of gun violence and build safer communities by strengthening Federal firearms laws and supporting gun violence research, intervention, and prevention initiatives; to the Committee on the Judiciary, and in addition to the Committees on Ways and Means, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H2399 [15AP] H.R. 6598 — A bill to designate the facility of the United States Postal Service located at 298 Route 292 in Holmes, New York, as the ‘‘Sheriff Adrian ‘Butch’ Anderson Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H433 [5FE], H739 [28FE], H824 [5MR], H3657 [4JN], H3675 [5JN], H3682 [7JN], H3727 [11JN], H4115 [18JN] H.R. 6600 — A bill to direct the Secretary of Health and Human Services to issue guidance on whether hospital emergency departments should implement fentanyl testing as a routine procedure for patients experiencing an overdose, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H109 [11JA], H639 [14FE], H739 [28FE], H774 [29FE], H824 [5MR], H1000 [6MR], H1034 [7MR], H1058 [8MR], H1149 [12MR], H1236 [19MR], H2368 [12AP], H2399 [15AP], H2629 [23AP], H2876 [6MY], H3400 [21MY], H3657 [4JN], H3727 [11JN], H3976 [12JN], H4115 [18JN] H.R. 6601 — A bill to amend the Workforce Innovation and Opportunity Act to codify a competitive grant program to build community colleges’ capacity to provide employment and training programs for in-demand industries or occupations; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H1499 [22MR], H3000 [8MY] H.R. 6602 — A bill to amend the Export Control Reform Act of 2018 relating to the review of the interagency dispute resolution process; to the Committee on Foreign Affairs. Rules suspended. Passed House amended, H1203 [19MR] Text, H1203 [19MR] Message from the House, S2466 [20MR] Referred to the Committee on Banking, Housing, and Urban Affairs, S2466 [20MR] H.R. 6603 — A bill to apply foreign-direct product rules to Iran; to the Committee on Foreign Affairs. Cosponsors added, H274 [29JA], H390 [1FE], H433 [5FE], H504 [6FE], H2399 [15AP] Text, H2422 [16AP] Rules suspended. Passed House amended, H2433 [16AP] Message from the House, S2824 [17AP] Referred to the Committee on Banking, Housing, and Urban Affairs, S2824 [17AP] H.R. 6608 — A bill to amend the Internal Revenue Code of 1986 to impose an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H366 [31JA], H544 [9FE], H583 [13FE], H681 [15FE], H1094 [11MR], H1149 [12MR], H2253 [9AP], H3486 [22MY] H.R. 6609 — A bill to amend the Arms Export Control Act to increase the dollar amount thresholds under sections 3 and 36 of that Act relating to proposed transfers or sales of defense articles or services under that Act, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H504 [6FE] H.R. 6610 — A bill to provide for the modernization of the passport issuance process, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H133 [12JA], H318 [30JA], H433 [5FE], H583 [13FE], H694 [23FE], H739 [28FE], H774 [29FE], H782 [1MR], H1182 [13MR], H1190 [15MR], H1236 [19MR] Rules suspended. Passed House amended, H1198 [19MR] Text, H1198 [19MR] Referred to the Committee on Foreign Relations, S2466 [20MR] H.R. 6612 — A bill to amend section 301 of the Immigration and Nationality Act to clarify those classes of individuals born in the United States who are nationals and citizens of the United States at birth; to the Committee on the Judiciary. Cosponsors added, H544 [9FE], H782 [1MR], H1094 [11MR], H1190 [15MR], H3526 [23MY] H.R. 6613 — A bill to amend the Homeland Security Act of 2002 to establish Regional School Safety Development Centers to provide consultation for schools to develop or improve a school safety plan based on evidence-based best practices, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H254 [25JA], H274 [29JA], H1058 [8MR], H3275 [15MY], H3486 [22MY], H4115 [18JN] H.R. 6618 — A bill to require the transfer of regulatory control of certain munitions exports from the Department of Commerce to the Department of State, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H1236 [19MR], H2559 [19AP], H3682 [7JN], H3727 [11JN], H4110 [14JN] H.R. 6619 — A bill to prohibit the Department of Justice from bringing a civil action against a State under section 9 or 10 of the Act of March 3, 1899, for certain border security measures, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H242 [18JA], H254 [25JA], H2771 [30AP] H.R. 6620 — A bill to prohibit Federal funds from being provided to institutions of higher education with endowment funds equaling or exceeding $5,000,000,000, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H109 [11JA] H.R. 6621 — A bill to provide technical assistance for geographically underserved and distressed areas, and for other purposes; to the Committee on Agriculture. Cosponsors added, H2771 [30AP] H.R. 6623 — A bill to amend the Securities Exchange Act of 1934 to allow for the registration of venture exchanges, and for other purposes; to the Committee on Financial Services. Cosponsors added, H14 [9JA], H583 [13FE] H.R. 6625 — A bill to direct the Secretary of Defense to submit a report about the effects on national security of the surveillance conducted by the People’s Republic of China via the high-altitude surveillance balloon shot down in the airspace of the United States in February 2023, and for other purposes; to the Committee on Armed Services. Cosponsors added, H14 [9JA], H109 [11JA] H.R. 6628 — A bill to provide direct hire authority to the Director of the Bureau of Prisons; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H504 [6FE], H583 [13FE], H1034 [7MR] H.R. 6629 — A bill to reauthorize the YouthBuild program, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H3543 [31MY] H.R. 6631 — A bill to amend the Workforce Innovation and Opportunity Act to recognize digital skills and digital literacy as critical adult education and literacy objectives, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H544 [9FE] H.R. 6634 — A bill to increase the capacity of the Department of Labor and labor enforcement agencies of States to address labor violations, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H318 [30JA], H433 [5FE], H544 [9FE], H681 [15FE], H2636 [26AP], H2938 [7MY], H3400 [21MY], H3682 [7JN], H4064 [13JN] H.R. 6639 — A bill to amend the Community Services Block Grant Act to update the Federal poverty line, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H774 [29FE], H2629 [23AP], H3583 [3JN] H.R. 6640 — A bill to secure the rights and dignity of marriage for Disabled Adult Children, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H583 [13FE], H639 [14FE], H1000 [6MR], H2143 [5AP], H2399 [15AP], H3400 [21MY], H3486 [22MY], H3543 [31MY], H3657 [4JN], H4064 [13JN], H4115 [18JN] H.R. 6641 — A bill to amend the Coastal Zone Management Act of 1972 to establish a working waterfronts Task Force and working waterfronts grant and loan programs, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H318 [30JA], H688 [20FE], H694 [23FE], H774 [29FE], H1190 [15MR], H1297 [20MR], H4115 [18JN] H.R. 6643 — A bill to guarantee the right to vote for all citizens regardless of conviction of a criminal offense, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H684 [16FE], H774 [29FE], H3486 [22MY] H.R. 6644 — A bill to amend title IV of the Federal Mine Safety and Health Act of 1977 to provide for the timely payment of black lung benefits pending liability determinations, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H774 [29FE], H824 [5MR], H3358 [17MY] H.R. 6645 — A bill to terminate membership by the United States in the United Nations, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H133 [12JA], H366 [31JA], H433 [5FE], H3543 [31MY] H.R. 6651 — A bill to designate the facility of the United States Postal Service located at 603 West 3rd Street in Necedah, Wisconsin, as the ‘‘Sergeant Kenneth E. Murphy Post Office Building’’; to the Committee on Oversight and Accountability. Rules suspended. Passed House, H3567 [3JN] Text, H3567 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 6652 — A bill to amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQI-owned businesses; to the Committee on Financial Services. Cosponsors added, H14 [9JA], H681 [15FE], H1236 [19MR], H3205 [14MY], H3400 [21MY], H4064 [13JN] H.R. 6653 — A bill to amend the Internal Revenue Code of 1986 to support upgrades at existing hydroelectric dams in order to increase clean energy production, improve the resiliency and reliability of the United States electric grid, enhance the health of the Nation’s rivers and associated wildlife habitats, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H1182 [13MR] H.R. 6654 — A bill to prohibit the sale and distribution of expanded polystyrene food service ware, expanded polystyrene loose fill, and expanded polystyrene coolers, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H739 [28FE], H1297 [20MR], H3205 [14MY] H.R. 6655 — A bill to amend and reauthorize the Workforce Innovation and Opportunity Act; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1500 [22MR], H2121 [26MR] Reported with amendment from the Committee on Education and the Workforce (H. Rept. 118–444, part 1), H2140 [5AP] Committees on Ways and Means discharged, H2140 [5AP] Debated, H2191 [9AP] Text, H2191 [9AP] Rules suspended. Passed House amended, H2232 [9AP] Message from the House, S2704 [10AP] Referred to the Committee on Health, Education, Labor, and Pensions, S2704 [10AP] H.R. 6656 — A bill to direct the Secretary of Veterans Affairs and the Commissioner of Social Security to implement automated systems with callback functionality for each customer service telephone line of the Department of Veterans Affairs and the Social Security Administration, respectively, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3727 [11JN] H.R. 6657 — A bill to amend the Consolidated Appropriations Act, 2023, to limit the conditions applicable to the use of electronic benefit transfer (EBT) cards to purchase food, and for other purposes; to the Committee on Agriculture. Cosponsors added, H53 [10JA], H366 [31JA] H.R. 6658 — A bill to prohibit entities receiving Federal assistance that are involved in adoption or foster care placements from delaying or denying placements under certain conditions; to the Committee on Ways and Means. Cosponsors added, H1000 [6MR], H2253 [9AP], H2399 [15AP] H.R. 6659 — A bill to amend title 23, United States Code, to direct the Secretary of Transportation to establish a grant program to facilitate electric bicycle sharing services for disadvantaged communities; to the Committee on Transportation and Infrastructure. Cosponsors added, H1094 [11MR] H.R. 6661 — A bill to amend the Consolidated Farm and Rural Development Act to reauthorize rural cooperative development grants; to the Committee on Agriculture. Cosponsors added, H2368 [12AP] H.R. 6663 — A bill to amend the SUPPORT for Patients and Communities Act to authorize the use of certain grants to prevent suicide or overdose by children, adolescents, and young adults, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H318 [30JA], H390 [1FE], H681 [15FE], H1500 [22MR], H3657 [4JN], H4064 [13JN] H.R. 6664 — A bill to encourage innovation in the development of pediatric drugs, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H274 [29JA], H774 [29FE], H2702 [29AP], H2876 [6MY], H3000 [8MY], H3205 [14MY], H3400 [21MY], H3526 [23MY] H.R. 6670 — A bill to direct the Secretary of Transportation to issue certain regulations with respect to the minimum age of a driver of a commercial motor vehicle, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H366 [31JA] H.R. 6671 — A bill to authorize the court to make an advisory statement under certain circumstances, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR] H.R. 6672 — A bill to award a Congressional Gold Medal posthumously to Marshall Walter ‘‘Major’’ Taylor in recognition of his significance to the nation as an athlete, trailblazer, role model, and equal rights advocate; to the Committee on Financial Services. Cosponsors added, H274 [29JA], H583 [13FE], H1297 [20MR], H2253 [9AP], H3275 [15MY], H3400 [21MY] H.R. 6673 — A bill to amend the Controlled Substances Act to provide for a new rule regarding the application of the Act to marijuana, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H148 [16JA], H694 [23FE], H1190 [15MR] H.R. 6674 — A bill to provide for the periodic issuance of up-to-date clinical guidance on addressing the health effects of per- and polyfluoroalkyl substances (PFAS), and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2130 [29MR] H.R. 6678 — A bill to amend the Immigration and Nationality Act to provide that aliens who have been convicted of or who have committed Social Security fraud are inadmissible and deportable; to the Committee on the Judiciary. Reported with amendment (H. Rept. 118–356), H251 [25JA] Providing for consideration (H. Res. 980), H270 [29JA] Debated, H333 [31JA] Text, H333 [31JA] Passed House amended, H341 [31JA] Message from the House, S360 [5FE] Referred to the Committee on the Judiciary, S360 [5FE] H.R. 6679 — A bill to amend the Immigration and Nationality Act with respect to aliens who carried out, participated in, planned, financed, supported, or otherwise facilitated the attacks against Israel; to the Committee on the Judiciary. Reported with amendment (H. Rept. 118–358), H251 [25JA] Providing for consideration (H. Res. 980), H270 [29JA] Text, H338 [31JA] Amendments, H339 [31JA] Passed House amended, H341 [31JA] Message from the House, S342 [1FE] Referred to the Committee on the Judiciary, S342 [1FE] H.R. 6681 — A bill to amend the Clean Air Act to include fuel for ocean-going vessels as additional renewable fuel for which credits may be generated under the renewable fuel program; to the Committee on Energy and Commerce. Cosponsors added, H109 [11JA], H1500 [22MR], H2291 [10AP] H.R. 6682 — A bill to prohibit funding for the Government of Ukraine for the nationalization of strategic assets; to the Committee on Foreign Affairs. Cosponsors added, H774 [29FE] H.R. 6683 — A bill to amend title XVIII of the Social Security Act to increase support for physicians and other practitioners in adjusting to Medicare payment changes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H133 [12JA], H148 [16JA], H190 [17JA], H242 [18JA], H247 [22JA], H254 [25JA], H318 [30JA], H390 [1FE], H504 [6FE], H583 [13FE], H639 [14FE], H681 [15FE], H697 [26FE], H1094 [11MR], H1182 [13MR], H2445 [16AP] H.R. 6686 — A bill to amend the Internal Revenue Code of 1986 to provide a credit for middle-income housing, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H133 [12JA] H.R. 6687 — A bill to amend the Federal Food, Drug, and Cosmetic Act with respect to the regulation of zootechnical animal food substances; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA], H190 [17JA], H366 [31JA], H433 [5FE], H688 [20FE], H2143 [5AP], H3007 [10MY], H4115 [18JN] H.R. 6688 — A bill to permit grant funds to be used to identify unidentified human remains without regard as to whether the manner of death is determined to be a homicide; to the Committee on the Judiciary. Cosponsors added, H1034 [7MR] H.R. 6693 — A bill to amend title XVIII of the Social Security Act to authorize the coverage of additional lung cancer screening tests under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H688 [20FE] H.R. 6696 — A bill to authorize the Attorney General to make grants to States and localities to provide the right to counsel in civil actions related to eviction, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H190 [17JA], H1190 [15MR], H1236 [19MR], H1500 [22MR], H2253 [9AP] H.R. 6698 — A bill to provide Federal-local community partnership construction funding to local educational agencies eligible to receive payments under the Impact Aid program; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H774 [29FE], H1236 [19MR], H2143 [5AP], H2291 [10AP], H2399 [15AP] H.R. 6704 — A bill to require the Secretary of Labor to establish a grant program for States to improve or establish a credential repository, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H504 [6FE] H.R. 6706 — A bill to amend the Richard B. Russell National School Lunch Act to fund the information clearinghouse through fiscal year 2031, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA], H254 [25JA] H.R. 6711 — A bill to direct the Director of the Bureau of Prisons to conduct a comprehensive review of understaffing across the Bureau, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H774 [29FE] H.R. 6716 — A bill to amend title XXVII of the Public Health Service Act to provide for a special enrollment period for pregnant women, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Education and the Workforce, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1149 [12MR], H2253 [9AP], H3583 [3JN] H.R. 6720 — A bill to direct the Secretary of Agriculture to establish a grocery, farm, and food worker stabilization grant program; to the Committee on Agriculture. Cosponsors added, H14 [9JA], H318 [30JA], H366 [31JA], H538 [7FE], H583 [13FE], H694 [23FE], H739 [28FE], H774 [29FE], H1000 [6MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1236 [19MR], H1500 [22MR], H2121 [26MR], H2143 [5AP], H2319 [11AP], H2445 [16AP], H2702 [29AP], H2771 [30AP], H3583 [3JN], H3976 [12JN] H.R. 6721 — A bill to amend the Internal Revenue Code of 1986 to allow for a credit against tax for rent paid on the personal residence of the taxpayer; to the Committee on Ways and Means. Cosponsors added, H254 [25JA] H.R. 6724 — A bill to require a certain percentage of natural gas and crude oil exports be transported on United States-built and United States-flag vessels, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H247 [22JA], H504 [6FE], H824 [5MR], H3976 [12JN] H.R. 6727 — A bill to establish the United States Foundation for International Conservation to promote long-term management of protected and conserved areas, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H14 [9JA], H190 [17JA], H247 [22JA], H274 [29JA], H433 [5FE], H681 [15FE], H697 [26FE], H774 [29FE], H1058 [8MR], H1236 [19MR], H1297 [20MR], H1355 [21MR], H2130 [29MR], H2399 [15AP], H2559 [19AP], H2702 [29AP], H3358 [17MY], H3400 [21MY], H3526 [23MY], H3535 [28MY], H3583 [3JN], H3657 [4JN], H3682 [7JN], H3727 [11JN], H4064 [13JN] H.R. 6728 — A bill to require public school, and public institution of higher education, athletic teams and clubs to be designated for membership based on biological sex, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H538 [7FE] H.R. 6730 — A bill to rescind amounts made available for the Department of Commerce Nonrecurring Expenses Fund by the Fiscal Responsibility Act of 2023, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on the Budget, Financial Services, Transportation and Infrastructure, Science, Space, and Technology, Natural Resources, Oversight and Accountability, Foreign Affairs, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H538 [7FE] H.R. 6733 — A bill to monitor United States investments in entities that are controlled by foreign adversaries, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H274 [29JA] H.R. 6734 — A bill to prohibit the use of Federal funds to finalize, implement, or enforce proposed ATF Rule 2022R-17, entitled ‘‘Definition of ‘Engaged in the Business’ as a Dealer in Firearms’’; to the Committee on the Judiciary. Cosponsors added, H109 [11JA], H190 [17JA], H242 [18JA], H544 [9FE], H639 [14FE], H824 [5MR], H3275 [15MY], H3682 [7JN] H.R. 6735 — A bill to require the Secretary of the Air Force to develop a long-term tactical fighter plan for the active and reserve components of the Air Force, and for other purposes; to the Committee on Armed Services. Cosponsors added, H254 [25JA] H.R. 6736 — A bill to provide a retroactive effective date for the promotions of senior officers of the Armed Forces whose military promotions were delayed as a result of the suspension of Senate confirmation of such promotions; to the Committee on Armed Services. Cosponsors added, H274 [29JA], H2629 [23AP] H.R. 6741 — A bill to authorize the Secretary of Defense to enter into a limited number of cost-plus incentive-fee contracts for the Sentinel Intercontinental Ballistic Missile program, and for other purposes; to the Committee on Armed Services. Cosponsors added, H254 [25JA] H.R. 6743 — A bill to amend the Public Health Service Act to include public awareness about menopause and related chronic conditions, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2503 [17AP], H2636 [26AP] H.R. 6744 — A bill to prohibit the Secretary of Veterans Affairs from providing health care to, or engaging in claims processing for health care for, any individual unlawfully present in the United States who is not eligible for health care under the laws administered by the Secretary; to the Committee on Veterans’ Affairs. Cosponsors added, H14 [9JA], H53 [10JA], H109 [11JA], H254 [25JA], H366 [31JA], H544 [9FE], H639 [14FE], H694 [23FE], H697 [26FE], H739 [28FE], H1000 [6MR], H1149 [12MR], H1355 [21MR], H2399 [15AP], H2876 [6MY] H.R. 6745 — A bill to amend the National Labor Relations Act to permit certain employees to engage in independent negotiating; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H639 [14FE], H1034 [7MR] H.R. 6746 — A bill to amend the Public Health Service Act to provide for a public awareness campaign with respect to iron deficiency; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA], H318 [30JA], H824 [5MR] H.R. 6747 — A bill to speed up the deployment of electricity transmission and clean energy, with proper input from affected communities, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Natural Resources, Agriculture, the Judiciary, Transportation and Infrastructure, Financial Services, Oversight and Accountability, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H190 [17JA], H274 [29JA], H1500 [22MR], H3675 [5JN] H.R. 6748 — A bill to amend title XVIII of the Social Security Act to provide for coverage of peer support services under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1034 [7MR], H1500 [22MR], H2136 [2AP], H3727 [11JN], H4064 [13JN], H4115 [18JN] H.R. 6749 — A bill to require the Director of the National Institutes of Health to evaluate the results and status of completed and ongoing research related to menopause, perimenopause, or mid-life women’s health, to conduct and support additional such research, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H133 [12JA], H254 [25JA], H544 [9FE], H697 [26FE], H1000 [6MR], H1058 [8MR], H2368 [12AP], H2522 [18AP], H3486 [22MY] H.R. 6750 — A bill to designate the facility of the United States Postal Service located at 501 Mercer Street Southwest in Wilson, North Carolina, as the ‘‘Milton F. Fitch, Sr. Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H433 [5FE] Rules suspended. Passed House, H3557 [3JN] Text, H3557 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 6751 — A bill to require the Secretary of the Treasury to mint commemorative coins in recognition of the life and legacy of Roberto Clemente; to the Committee on Financial Services. Cosponsors added, H190 [17JA], H242 [18JA], H318 [30JA], H504 [6FE], H583 [13FE], H688 [20FE], H697 [26FE], H2636 [26AP], H3531 [24MY], H3657 [4JN] H.R. 6754 — A bill to authorize the establishment of a comprehensive school-based violence prevention program to assist youth at highest risk for involvement in gun violence in local communities and schools, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA], H247 [22JA], H366 [31JA], H694 [23FE], H2629 [23AP], H3358 [17MY], H3657 [4JN] H.R. 6756 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish limits on certain toxic elements in infant and toddler food, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA], H433 [5FE], H583 [13FE], H739 [28FE], H1236 [19MR] H.R. 6758 — A bill to establish a uniform and more efficient Federal process for protecting property owners’ rights guaranteed by the fifth amendment; to the Committee on the Judiciary. Cosponsors added, H148 [16JA] H.R. 6759 — A bill to amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for AmeriCorps educational awards; to the Committee on Ways and Means. Cosponsors added, H1058 [8MR] H.R. 6760 — A bill to prohibit United States contributions to the Intergovernmental Panel on Climate Change, the United Nations Framework Convention on Climate Change, and the Green Climate Fund; to the Committee on Foreign Affairs. Cosponsors added, H109 [11JA], H318 [30JA] H.R. 6761 — A bill to amend the Black Lung Benefits Act to ease the benefits process for survivors of miners whose deaths were due to pneumoconiosis; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H274 [29JA] H.R. 6762 — A bill to amend the Internal Revenue Code of 1986 to disallow companies associated with foreign adversaries from receiving the advanced manufacturing production credit; to the Committee on Ways and Means. Cosponsors added, H53 [10JA], H109 [11JA], H247 [22JA], H688 [20FE], H1034 [7MR], H2253 [9AP] H.R. 6763 — A bill to establish a multi-stakeholder advisory committee tasked with providing detailed recommendations to address challenges to transmitting geolocation information with calls to the 988 Suicide and Crisis Lifeline, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H433 [5FE], H681 [15FE], H1190 [15MR], H1297 [20MR], H2143 [5AP], H2559 [19AP], H3486 [22MY], H3526 [23MY], H3682 [7JN], H3727 [11JN] H.R. 6765 — A bill to create a coordinated domestic wildlife disease surveillance framework for State, Tribal, and local governments to monitor and respond to wildlife disease outbreaks to prevent pandemics, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA] H.R. 6766 — A bill to amend the Federal Food, Drug, and Cosmetic Act to strengthen requirements related to nutrient information on food labels; to the Committee on Energy and Commerce. Cosponsors added, H14 [9JA], H2130 [29MR], H3526 [23MY], H3583 [3JN], H3727 [11JN] H.R. 6768 — A bill to amend the Public Health Service Act to require the Secretary of Health and Human Services to carry out activities to establish, expand, and sustain a public health nursing workforce, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H583 [13FE] H.R. 6770 — A bill to amend the Federal Food, Drug, and Cosmetic Act to ensure the safety of infant and toddler food, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H242 [18JA], H739 [28FE] H.R. 6771 — A bill to amend title 51, United States Code, to provide for a NASA public-private talent program, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H2629 [23AP] H.R. 6772 — A bill to amend the Internal Revenue Code of 1986 to reduce the age for making catch-up contributions to retirement accounts to take into account time out of the workforce to provide dependent care services; to the Committee on Ways and Means. Cosponsors added, H318 [30JA] H.R. 6775 — A bill to provide for the Federal charter of certain public banks, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Oversight and Accountability, Ways and Means, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1094 [11MR] H.R. 6776 — A bill to require a publicly traded company to disclose to the Securities and Exchange Commission if the company has a diversity, equity, and inclusion program to combat antisemitism; to the Committee on Financial Services. Cosponsors added, H2636 [26AP] H.R. 6777 — A bill to prohibit covered entities from requiring consumers to solely use digital monthly statements, and for other purposes; to the Committee on Financial Services. Cosponsors added, H318 [30JA] H.R. 6780 — A bill to amend title XVIII of the Social Security Act to establish a Medically Tailored Home-Delivered Meals Demonstration Program to test a payment and service delivery model under part A of Medicare to improve clinical health outcomes and reduce the rate of readmissions of certain individuals; to the Committee on Ways and Means. Cosponsors added, H242 [18JA], H247 [22JA], H274 [29JA], H433 [5FE], H583 [13FE], H681 [15FE], H739 [28FE], H2876 [6MY], H3330 [16MY], H4064 [13JN] H.R. 6783 — A bill to protect the investment choices of investors in the United States, and for other purposes; to the Committee on Financial Services. Cosponsors added, H1149 [12MR], H1297 [20MR], H2254 [9AP] H.R. 6784 — A bill to amend the Endangered Species Act of 1973 to provide for protective regulations when a species is listed as an endangered species; to the Committee on Natural Resources. Cosponsors added, H14 [9JA], H433 [5FE], H2254 [9AP] H.R. 6788 — A bill to improve communication between the United States Postal Service and local communities relating to the relocation and establishment of Postal Service retail service facilities, and for other purposes; to the Committee on Oversight and Accountability. Amendments, H336 [31JA] H.R. 6789 — A bill to amend the Consumer Financial Protection Act of 2010 to clarify standards for UDAAP enforcement actions brought by the Bureau of Consumer Financial Protection, and for other purposes; to the Committee on Financial Services. Cosponsors added, H53 [10JA], H242 [18JA], H433 [5FE] H.R. 6790 — A bill to amend the Public Health Service Act with respect to preventing end-stage kidney disease, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3583 [3JN], H4115 [18JN] H.R. 6791 — A bill to amend the Digital Equity Act of 2021 to facilitate artificial intelligence literacy opportunities, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA] H.R. 6793 — A bill to prohibit further action on the proposed rule entitled ‘‘Energy Conservation Program—Energy Conservation Standards for Ceiling Fans’’; to the Committee on Energy and Commerce. Cosponsors added, H254 [25JA] H.R. 6795 — A bill to amend the Internal Revenue Code of 1986 to provide incentives for education; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H274 [29JA], H544 [9FE], H639 [14FE], H2143 [5AP] H.R. 6800 — A bill to amend title 38, United States Code, to codify the requirements for appointment, qualifications, and pay for therapeutic medical physicists of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H688 [20FE] H.R. 6802 — A bill to improve supply chain resiliency for critical drug products with vulnerable supply chains and ensure that reserves of critical drugs and active pharmaceutical ingredients are maintained to prevent supply disruptions in the event of drug shortages or public health emergencies; to the Committee on Energy and Commerce. Cosponsors added, H1034 [7MR], H1149 [12MR], H2876 [6MY] H.R. 6805 — A bill to require the Administrator of the Environmental Protection Agency to designate per- and polyfluoroalkyl substances as hazardous substances under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA], H148 [16JA], H318 [30JA], H433 [5FE], H739 [28FE], H1000 [6MR], H1297 [20MR], H1500 [22MR], H2254 [9AP], H2702 [29AP], H3682 [7JN] H.R. 6807 — A bill to increase funding for cancer research by the National Cancer Institute to be more in proportion to the mortality rates of cancer; to the Committee on Appropriations, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2136 [2AP] H.R. 6808 — A bill to require the Administrator of the Environmental Protection Agency to develop a risk-communication strategy to inform the public about the hazards or potential hazards of perfluoroalkyl and polyfluoroalkyl substances, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H190 [17JA], H254 [25JA], H3205 [14MY] H.R. 6810 — A bill to designate the facility of the United States Postal Service located at 518 North Ridgewood Drive in Sebring, Florida, as the ‘‘U.S. Army Air Corps Major Thomas B. McGuire Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H53 [10JA], H190 [17JA], H242 [18JA], H504 [6FE], H1034 [7MR], H2136 [2AP] Rules suspended. Passed House, H3563 [3JN] Text, H3563 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 6811 — A bill to amend the Food, Agriculture, Conservation, and Trade Act of 1990 to provide for high-priority research and extension grants for natural climate solutions, and for other purposes; to the Committee on Agriculture. Cosponsors added, H254 [25JA], H366 [31JA], H2368 [12AP], H2623 [20AP] H.R. 6813 — A bill to prohibit the Administrator of the Environmental Protection Agency from finalizing, implementing, or enforcing the proposed rule related to revisions to the air emissions reporting requirements, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H133 [12JA] H.R. 6814 — A bill to require the Under Secretary of Commerce for Oceans and Atmosphere to assess certain offshore oil and gas platforms and pipelines for potential use as artificial reefs, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H544 [9FE], H1236 [19MR], H1297 [20MR] H.R. 6815 — A bill to require the Nuclear Regulatory Commission to revise its regulations to protect patients from unintended exposure to radiation during nuclear medicine procedures, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H318 [30JA], H433 [5FE], H583 [13FE], H694 [23FE], H824 [5MR], H1000 [6MR], H2254 [9AP], H2445 [16AP], H3400 [21MY], H3675 [5JN], H4115 [18JN] H.R. 6816 — A bill to prohibit the availability of Federal education funds for elementary and secondary schools that receive direct or indirect support from the Government of the People’s Republic of China; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H2130 [29MR], H3727 [11JN], H3976 [12JN] H.R. 6818 — A bill to amend the Internal Revenue Code of 1986 to provide employers a credit against employment and income taxes for certain employee training expenses; to the Committee on Ways and Means. Cosponsors added, H14 [9JA], H109 [11JA] H.R. 6824 — A bill to require the Attorney General to submit to the Congress a report that includes the demographic data of persons determined to be ineligible to purchase a firearm based on a background check performed by the National Instant Criminal Background Check System; to the Committee on the Judiciary. Cosponsors added, H681 [15FE], H824 [5MR] H.R. 6827 — A bill to amend the Richard B. Russell National School Lunch Act to increase commodity assistance under the summer food service program; to the Committee on Education and the Workforce. Cosponsors added, H53 [10JA] H.R. 6828 — A bill to establish within the Department of Justice an Office for Missing and Murdered Black Women and Girls; to the Committee on the Judiciary. Cosponsors added, H1149 [12MR], H2319 [11AP] H.R. 6829 — A bill to amend the Public Health Service Act to authorize and support the creation and dissemination of cardiomyopathy education, awareness, and risk assessment materials and resources to identify more at-risk families, to authorize research and surveillance activities relating to cardiomyopathy, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2291 [10AP], H3400 [21MY] Reported with amendment (H. Rept. 118–520), H3482 [22MY] H.R. 6830 — A bill to require certain libraries to maintain a diverse collection of books, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H1236 [19MR], H2136 [2AP], H4064 [13JN] H.R. 6831 — A bill to reauthorize the Venezuela Emergency Relief, Democracy Assistance, and Development Act of 2019, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H190 [17JA], H433 [5FE], H739 [28FE], H1236 [19MR] H.R. 6832 — A bill to require the priority and consideration of using native plants in Federal projects, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H53 [10JA], H242 [18JA], H254 [25JA], H274 [29JA], H433 [5FE], H739 [28FE], H3275 [15MY] H.R. 6833 — A bill to amend the Internal Revenue Code of 1986 to improve and enhance the work opportunity tax credit, to encourage longer-service employment, and to modernize the credit to make it more effective as a hiring incentive for targeted workers, and for other purposes; to the Committee on Ways and Means. Cosponsors added, H254 [25JA] H.R. 6835 — A bill to amend the Older Americans Act of 1965 to establish a grant program for multigenerational activities for long-term care facilities; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA], H3583 [3JN], H3657 [4JN] H.R. 6837 — A bill to prohibit the circumvention of control measures used by internet retailers to ensure equitable consumer access to products, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H681 [15FE] H.R. 6838 — A bill to require the Secretary of Education to disclose information about career and technical education and funding under the Carl D. Perkins Career and Technical Education Act of 2006, and require FAFSA applications to include a career and technical education acknowledgment; to the Committee on Education and the Workforce. Cosponsors added, H688 [20FE] H.R. 6840 — A bill to prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Islamic Republic of Iran, and for other purposes; to the Committee on Financial Services. Cosponsors added, H254 [25JA] H.R. 6841 — A bill to amend the Coastal Zone Management Act of 1972 to allow the Secretary of Commerce to establish a Coastal and Estuarine Resilience and Restoration Program, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H133 [12JA], H274 [29JA], H2121 [26MR], H2136 [2AP], H2319 [11AP] H.R. 6842 — A bill to amend chapter 131 of title 5, United States Code, and the STOCK Act to require certain senior officials to report payments received from the Federal Government, to improve the filing and disclosure of financial disclosures by Members of Congress, congressional staff, very senior employees, and others, and to ban stock trading for certain senior Government officials, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on House Administration, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H318 [30JA] H.R. 6847 — A bill to impose limitations on the amount of indirect costs allowable under Federal research awards to institutions of higher education, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H3486 [22MY] H.R. 6848 — A bill to amend the Higher Education Act of 1965 to prohibit institutions of higher education from requiring ideological oaths or similar statements, and for other purposes; to the Committee on Education and the Workforce. Cosponsors added, H3275 [15MY] H.R. 6852 — A bill to designate Holcombe Rucker Park, in Harlem, New York, as a National Commemorative Site, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H697 [26FE] H.R. 6853 — A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to require the Congressional Budget Office to provide to Congress information on payments from the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund, and for other purposes; to the Committee on the Budget. Cosponsors added, H190 [17JA], H247 [22JA] H.R. 6854 — A bill to direct the Secretary of the Interior to establish 2 grant programs to sustain populations of species of migratory waterfowl through the deployment of tools and practices that complement habitat conservation; to the Committee on Natural Resources. Cosponsors added, H254 [25JA], H583 [13FE] H.R. 6858 — A bill to amend the Social Security Act to limit the recovery of overpayments under titles II and XVI to a ten-year period; to the Committee on Ways and Means. Cosponsors added, H254 [25JA] H.R. 6859 — A bill to extend the Federal recognition to the Gabrielino/Tongva Nation, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H3543 [31MY] H.R. 6860 — A bill to amend title XVIII of the Social Security Act to clarify and preserve the breadth of the protections under the Medicare Secondary Payer Act; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H274 [29JA], H318 [30JA], H504 [6FE], H583 [13FE], H681 [15FE], H694 [23FE], H697 [26FE], H774 [29FE], H1000 [6MR], H1182 [13MR], H1190 [15MR], H1500 [22MR], H2254 [9AP], H2319 [11AP], H2399 [15AP], H2702 [29AP], H2876 [6MY], H2938 [7MY], H3275 [15MY], H3526 [23MY] H.R. 6862 — A bill to amend the FAST Act to include certain mineral production activities as a covered project, and for other purposes; to the Committee on Natural Resources. Cosponsors added, H53 [10JA], H2636 [26AP] H.R. 6864 — A bill to amend the Department of Housing and Urban Development Act to require the Secretary of Housing and Urban Development to testify on an annual basis before the Congress; to the Committee on Financial Services. Cosponsors added, H148 [16JA], H274 [29JA], H824 [5MR] H.R. 6870 — A bill to amend the Equal Credit Opportunity Act to clarify creditor’s rights and remedies with respect to the consideration of immigration status with respect to the extension of credit, and for other purposes; to the Committee on Financial Services. Cosponsors added, H190 [17JA], H254 [25JA], H366 [31JA], H694 [23FE] H.R. 6871 — A bill to require the Secretary of Transportation, in consultation with the Secretary of Energy, to establish a grant program to demonstrate the performance and reliability of heavy-duty fuel cell vehicles that use hydrogen as a fuel source, and for other purposes; to the Committee on Science, Space, and Technology. Cosponsors added, H2121 [26MR], H2130 [29MR], H2143 [5AP] H.R. 6872 — A bill to require the Secretary of Energy to establish a grant program to support hydrogen-fueled equipment at ports and to conduct a study with the Secretary of Transportation and the Secretary of Homeland Security on the feasibility and safety of using hydrogen-derived fuels, including ammonia, as a shipping fuel; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1190 [15MR], H2121 [26MR], H2130 [29MR] H.R. 6874 — A bill to direct the Secretary of Veterans Affairs to implement a system or process to actively monitor the veteran self-service and data transmission functions of the main internet website of the Department of Veterans Affairs for certain adverse events, and for other purposes; to the Committee on Veterans’ Affairs. Cosponsors added, H14 [9JA] H.R. 6875 — A bill to amend the Caribbean Basin Economic Recovery Act to make Uruguay eligible for designation as a beneficiary country under that Act, to include Uruguay in the list of foreign states whose nationals are eligible for admission into the United States as E1 and E2 nonimmigrants if nationals of the United States are treated similarly by the Government of Uruguay, and to require a report on the eligibility of Uruguay for the visa waiver program, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H14 [9JA] H.R. 6876 — A bill to require a pilot program on the participation of third-party logistics providers in the Customs Trade Partnership Against Terrorism, and for other purposes; to the Committee on Homeland Security. Cosponsors added, H247 [22JA], H1190 [15MR] H.R. 6880 — A bill to authorize the Secretary of Agriculture to award grants to promote the domestic hardwood industry, and for other purposes; to the Committee on Agriculture. Cosponsors added, H739 [28FE], H3583 [3JN] H.R. 6881 — A bill to direct the Federal Trade Commission to establish standards for making publicly available information about the training data and algorithms used in artificial intelligence foundation models, and for other purposes; to the Committee on Energy and Commerce. Cosponsors added, H2559 [19AP], H3400 [21MY], H3486 [22MY] H.R. 6884 — A bill to increase the minimum levels of financial responsibility for transporting property, and to index future increases to changes in inflation relating to medical care; to the Committee on Transportation and Infrastructure. Cosponsors added, H3583 [3JN] H.R. 6885 — A bill to amend title 3, United States Code, to include under the Electoral Count Act of 1887 that the vote of an elector of a State shall not be counted if, with respect to the election for President, the State did not include on the ballot in the State a candidate for President who was nominated by a major political party, and for other purposes; to the Committee on House Administration. Cosponsors added, H14 [9JA], H53 [10JA], H782 [1MR] H.R. 6886 — A bill to direct agencies to be transparent when using automated and augmented systems to interact with the public or make critical decisions, and for other purposes; to the Committee on Oversight and Accountability. Cosponsors added, H688 [20FE] H.R. 6887 — A bill to designate the facility of the United States Postal Service located at 86 Main Street in Haverstraw, New York, as the ‘‘Paul Piperato Post Office Building’’; to the Committee on Oversight and Accountability. Cosponsors added, H274 [29JA], H639 [14FE], H694 [23FE], H739 [28FE], H774 [29FE], H2368 [12AP], H3657 [4JN], H3675 [5JN], H3682 [7JN], H3727 [11JN], H4115 [18JN] H.R. 6888 — A bill to develop career and technical education programs of study and facilities in the areas of renewable energy; to the Committee on Education and the Workforce. Cosponsors added, H14 [9JA], H274 [29JA], H433 [5FE], H2445 [16AP] H.R. 6889 — A bill to amend section 1105(a) of title 31, United States Code, to require that annual budget submissions of the President to Congress provide an estimate of the cost per taxpayer of the deficit and of the public debt; to the Committee on the Budget. Cosponsors added, H3400 [21MY] H.R. 6892 — A bill to provide for the coverage of medically necessary food and vitamins and individual amino acids for digestive and inherited metabolic disorders under Federal health programs and private health insurance, to ensure State and Federal protection for existing coverage, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Oversight and Accountability, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H681 [15FE], H694 [23FE], H739 [28FE], H1190 [15MR], H1297 [20MR], H1500 [22MR], H2130 [29MR], H3330 [16MY], H3400 [21MY] H.R. 6906 — A bill to amend the Water Resources Development Act of 1992 and the Flood Control Act of 1968 to provide for provisions relating to collection and retention of user fees at recreation facilities, and for other purposes; to the Committee on Transportation and Infrastructure. Cosponsors added, H14 [9JA], H53 [10JA], H318 [30JA], H583 [13FE], H824 [5MR] H.R. 6907 — A bill to establish a grant program to provide assistance to eligible individuals to cover the costs of childcare services; to the Committee on Education and the Workforce. Cosponsors added, H242 [18JA] H.R. 6913 — A bill to amend the Federal Election Campaign Act of 1971 to require corporations to disclose to their shareholders the amounts disbursed for certain political activity, and for other purposes; to the Committee on Ways and Means and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARTWRIGHT (for himself, Ms. Kaptur, and Mr. Schiff), H12 [9JA] H.R. 6914 — A bill to require institutions of higher education to disseminate information on the rights of, and accommodations and resources for, pregnant students, and for other purposes; to the Committee on Education and the Workforce. By Mrs. HINSON, H12 [9JA] Cosponsors added, H53 [10JA], H109 [11JA], H133 [12JA] Reported with amendment (H. Rept. 118–344), H132 [12JA] Providing for consideration (H. Res. 969), H187 [17JA] Debated, H210 [18JA] Text, H210 [18JA] Motion to recommit, H219 [18JA] Motion to recommit rejected, H228 [18JA] Passed House amended, H229 [18JA] Message from the House, S201 [22JA] Read the first time, S203 [22JA] Read the second time and placed on the calendar, S205 [23JA] H.R. 6915 — A bill to support the establishment and improvement of communications sites on or adjacent to Federal lands through the retention and use of rental fees associated with such sites, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HUFFMAN (for himself and Mr. Khanna), H12 [9JA] H.R. 6916 — A bill to require the Comptroller General of the United States to submit a report regarding outreach provided to veterans about the availability of supplemental nutrition assistance program benefits under the Food and Nutrition Act of 2008; to the Committee on Agriculture. By Mr. LEVIN (for himself and Mr. Van Orden), H12 [9JA] H.R. 6917 — A bill to modify the Standard Form 86 questionnaire used for national security eligibility determinations to include questions regarding an individual’s membership in, or association with, organizations spreading conspiracy theories regarding the Government and participation in the activities occurring at the United States Capitol on January 6, 2021, and for other purposes; to the Committee on Oversight and Accountability. By Mr. NICKEL, H12 [9JA] H.R. 6918 — A bill to prohibit the Secretary of Health and Human Services from restricting funding for pregnancy centers; to the Committee on Ways and Means. By Mrs. FISCHBACH (for herself, Ms. Tenney, and Mr. Smith of New Jersey), H12 [9JA] Cosponsors added, H53 [10JA], H109 [11JA], H148 [16JA] Reported with amendment (H. Rept. 118–349), H147 [16JA] Providing for consideration (H. Res. 969), H187 [17JA] Debated, H201 [18JA] Text, H201 [18JA] Motion to recommit, H210 [18JA] Motion to recommit rejected, H227 [18JA] Passed House amended, H227 [18JA] Message from the House, S201 [22JA] Referred to the Committee on Health, Education, Labor, and Pensions, S201 [22JA] H.R. 6919 — A bill to name the Department of Veterans Affairs medical center in Tomah, Wisconsin, as the ‘‘Jason Simcakoski Department of Veterans Affairs Medical Center’’; to the Committee on Veterans’ Affairs. By Mr. VAN ORDEN (for himself, Mr. Tiffany, Mr. Steil, Mr. Fitzgerald, Mr. Grothman, Mr. Gallagher, Ms. Moore of Wisconsin, and Mr. Pocan), H12 [9JA] H.R. 6920 — A bill to amend title 10, United States Code, to include training regarding financial protections under the Servicemembers Civil Relief Act in certain financial literacy training programs for members of the Armed Forces, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARTWRIGHT (for himself, Mr. Carson, Mr. Davis of North Carolina, Mr. Deluzio, Mr. Fitzpatrick, Mr. Gottheimer, Ms. Houlahan, Mr. Lawler, Mr. McGarvey, Mr. Moskowitz, Mr. Moylan, Ms. Titus, and Ms. Tokuda), H12 [9JA] Cosponsors added, H109 [11JA], H133 [12JA], H366 [31JA], H688 [20FE], H824 [5MR] H.R. 6921 — A bill to amend the Food Security Act of 1985 to authorize payments under the environmental quality incentives program to assist producers in implementing certain conservation practices along the southern border of Texas, and for other purposes; to the Committee on Agriculture. By Ms. DE LA CRUZ (for herself, Mr. Cuellar, Mr. Tony Gonzales of Texas, and Mr. Vicente Gonzalez of Texas), H12 [9JA] H.R. 6922 — A bill to amend section 242 of the National Housing Act to provide parity with respect to access to the mortgage insurance for hospitals program for licensed hospitals, and for other purposes; to the Committee on Financial Services. By Mr. EMMER (for himself and Mr. Torres of New York), H12 [9JA] Cosponsors added, H53 [10JA] H.R. 6923 — A bill to amend title 46, United States Code, to require a State to enter into a data sharing agreement with the Secretary of Homeland Security and the Secretary of Transportation in order to be eligible for the port security grant program and the port infrastructure development program; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MALLIOTAKIS, H12 [9JA] H.R. 6924 — A bill to require the Director of the Bureau of Prisons to provide certain information to inmates with respect to voting, and for other purposes; to the Committee on the Judiciary. By Ms. NORTON (for herself and Ms. Pingree), H13 [9JA] H.R. 6925 — A bill to amend the John D. Dingell, Jr. Conservation, Management, and Recreation Act to permanently authorize the Every Kid Outdoors program, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. PORTER (for herself and Ms. DeGette), H13 [9JA] Cosponsors added, H1094 [11MR], H2143 [5AP] H.R. 6926 — A bill to amend title 18, United States Code, to establish a criminal penalty for interfering with commerce by blocking public roads; to the Committee on the Judiciary. By Mr. ROUZER (for himself, Mr. Edwards, and Mr. Hudson), H13 [9JA] Cosponsors added, H53 [10JA], H190 [17JA], H242 [18JA], H433 [5FE], H681 [15FE], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H2559 [19AP], H2702 [29AP] H.R. 6927 — A bill to establish a commission on national debt and fiscal reforms; to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. SPARTZ, H13 [9JA] H.R. 6928 — A bill to amend the Public Health Service Act to direct the Secretary of Health and Human Services, acting through the Assistant Secretary for Mental Health and Substance Abuse, to award grants to eligible crisis centers to provide follow-up services to individuals receiving suicide prevention and crisis intervention services, and for other purposes; to the Committee on Energy and Commerce. By Mr. TRONE (for himself, Mr. Raskin, and Mr. Fitzpatrick), H13 [9JA] Cosponsors added, H544 [9FE], H1182 [13MR], H3976 [12JN], H4064 [13JN], H4110 [14JN], H4115 [18JN] H.R. 6929 — A bill to appropriate funds for the Affordable Connectivity Program of the Federal Communications Commission; to the Committee on Appropriations. By Ms. CLARKE of New York (for herself, Mr. Fitzpatrick, Mrs. Torres of California, Mr. Lawler, Mrs. Dingell, Mr. D’Esposito, Mr. Soto, and Mr. Molinaro), H50 [10JA] Cosponsors added, H433 [5FE], H583 [13FE], H824 [5MR], H1000 [6MR], H1034 [7MR], H1149 [12MR], H1182 [13MR], H1190 [15MR], H1236 [19MR], H1297 [20MR], H1355 [21MR], H1500 [22MR], H2121 [26MR], H2136 [2AP], H2254 [9AP], H2291 [10AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H2831 [1MY], H3976 [12JN] H.R. 6930 — A bill to amend the Federal Election Campaign Act of 1971 to require political committees to file separate reports for contributions of $1,000 or more which are received fewer than 20 days before the date of any election in which the committee makes a contribution to, or an expenditure or electioneering communication on behalf of or in opposition to, a candidate or political party in the election, and for other purposes; to the Committee on House Administration. By Mr. CROW (for himself, Mr. Deluzio, Mr. Sarbanes, and Ms. Porter), H51 [10JA] H.R. 6931 — A bill to amend the National Dam Safety Program Act to improve that Act, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. EDWARDS (for himself and Ms. Kuster), H51 [10JA] Cosponsors added, H247 [22JA] H.R. 6932 — A bill to amend the National Dam Safety Program Act to require the inclusion of low-head dams in the national dam inventory, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. EDWARDS (for himself and Mr. Ryan), H51 [10JA] Cosponsors added, H3657 [4JN] H.R. 6933 — A bill to provide the National Credit Union Administration Board flexibility to increase Federal credit union loan maturities, and for other purposes; to the Committee on Financial Services. By Mr. FITZGERALD (for himself, Mr. Vargas, Mrs. Kim of California, and Mr. Sherman), H51 [10JA] Cosponsors added, H190 [17JA], H824 [5MR], H2121 [26MR], H2254 [9AP], H3727 [11JN] H.R. 6934 — A bill to protect the right of parents to direct the upbringing of their children as a fundamental right; to the Committee on the Judiciary. By Ms. FOXX (for herself, Mr. Weber of Texas, Mr. Duncan, Mr. Rose, Mrs. Miller of Illinois, Mr. Bilirakis, Mr. Higgins of Louisiana, Mr. Tony Gonzales of Texas, Mr. LaTurner, Mr. Donalds, Ms. Mace, and Mr. Gooden of Texas), H51 [10JA] Cosponsors added, H190 [17JA], H544 [9FE], H688 [20FE], H694 [23FE], H774 [29FE], H2636 [26AP] H.R. 6935 — A bill to direct the Secretary of Labor, in consultation with the Chairperson of the National Endowment for the Arts, to award grants for arts and creative workforce programs; to the Committee on Education and the Workforce. By Ms. LEGER FERNANDEZ (for herself, Mr. Obernolte, Mr. Lieu, and Ms. Pingree), H51 [10JA] Cosponsors added, H433 [5FE], H3000 [8MY] H.R. 6936 — A bill to require Federal agencies to use the Artificial Intelligence Risk Management Framework developed by the National Institute of Standards and Technology with respect to the use of artificial intelligence; to the Committee on Oversight and Accountability, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LIEU (for himself, Mr. Nunn of Iowa, Mr. Beyer, and Mr. Molinaro), H51 [10JA] H.R. 6937 — A bill to provide for the improved collection of data for organic dairy, and for other purposes; to the Committee on Agriculture. By Ms. PINGREE (for herself and Mr. Molinaro), H51 [10JA] Cosponsors added, H242 [18JA], H433 [5FE], H1355 [21MR], H2702 [29AP], H3727 [11JN] H.R. 6938 — A bill to amend the Internal Revenue Code of 1986 to reinstate the deduction for personal casualty losses as in effect prior to the enactment of Public Law 115-97 (commonly referred to as the ‘‘Tax Cuts and Jobs Act’’); to the Committee on Ways and Means. By Mr. RASKIN (for himself and Mr. McGovern), H51 [10JA] Cosponsors added, H242 [18JA], H739 [28FE] H.R. 6939 — A bill to direct the Secretary of Homeland Security to continue to implement the Migrant Protection Protocols, and for other purposes; to the Committee on the Judiciary. By Mr. ROSENDALE (for himself, Mr. Gooden of Texas, Mr. Reschenthaler, Ms. Malliotakis, Mr. Harris, Ms. Boebert, Mr. Waltz, Mr. Good of Virginia, Mr. Burlison, Mr. Baird, Mr. Tony Gonzales of Texas, Mr. Van Drew, Mr. Biggs, Mr. Perry, Mr. Norman, Mr. Balderson, Mr. Gosar, Mr. Fry, Mr. Carter of Georgia, Mr. Duncan, Mr. Arrington, Mr. LaMalfa, Mr. Ogles, Mr. Yakym, Mr. Wilson of South Carolina, and Mr. Collins), H51 [10JA] Cosponsors added, H133 [12JA], H190 [17JA], H254 [25JA], H681 [15FE], H1034 [7MR], H2629 [23AP] H.R. 6940 — A bill to effect a moratorium on immigration; to the Committee on the Judiciary. By Mr. ROSENDALE (for himself, Mr. Harris, Ms. Boebert, Mr. Gosar, Mr. Collins, and Mr. Weber of Texas), H51 [10JA] Cosponsors added, H681 [15FE], H2522 [18AP] H.R. 6941 — A bill to amend title 18, United States Code, to prohibit fleeing law enforcement officers enforcing immigration laws, and for other purposes; to the Committee on the Judiciary. By Mr. ROSENDALE (for himself, Mr. Higgins of Louisiana, Mr. Gooden of Texas, Mr. Harris, Ms. Boebert, Mr. Good of Virginia, Mr. Burlison, Mr. Tony Gonzales of Texas, Mr. Biggs, Mr. McCaul, Mr. Fry, Mr. Norman, Mr. Ogles, Mr. Weber of Texas, and Mr. Collins), H51 [10JA] Cosponsors added, H133 [12JA], H190 [17JA], H247 [22JA], H1034 [7MR] H.R. 6942 — A bill to prevent congressional reapportionment distortions by requiring that, in the questionnaires used in the taking of any decennial census of population, a checkbox or other similar option be included for respondents to indicate citizenship status or lawful presence in the United States; to the Committee on Oversight and Accountability. By Mr. ROSENDALE (for himself, Mr. Harris, Ms. Boebert, Mr. Good of Virginia, Mr. Burlison, Mr. Biggs, Mr. Gosar, Mr. Fry, Mr. Duncan, Mr. Norman, Mr. Weber of Texas, Mr. Collins, and Mr. Wilson of South Carolina), H51 [10JA] Cosponsors added, H133 [12JA], H190 [17JA], H254 [25JA], H1034 [7MR] H.R. 6943 — A bill to provide for individual property rights in likeness and voice; to the Committee on the Judiciary. By Ms. SALAZAR (for herself, Ms. Dean of Pennsylvania, Mr. Moran, Mr. Morelle, and Mr. Wittman), H51 [10JA] Cosponsors added, H148 [16JA], H242 [18JA], H247 [22JA], H366 [31JA], H1034 [7MR] H.R. 6944 — A bill to require the Secretary of the Treasury to establish a catastrophic property loss reinsurance program, and for other purposes; to the Committee on Financial Services. By Mr. SCHIFF (for himself, Ms. Tlaib, Mr. Mullin, Ms. Salinas, Ms. Hoyle of Oregon, Ms. Lofgren, and Ms. Brownley), H51 [10JA] Cosponsors added, H109 [11JA], H133 [12JA], H190 [17JA], H242 [18JA], H274 [29JA], H504 [6FE], H3400 [21MY], H3675 [5JN], H4115 [18JN] H.R. 6945 — A bill to require enforcement against misbranded egg alternatives; to the Committee on Energy and Commerce. By Ms. STEFANIK (for herself and Ms. Wild), H51 [10JA] Cosponsors added, H148 [16JA], H3526 [23MY], H3727 [11JN] H.R. 6946 — A bill to direct the Secretary of Defense to establish a compensation fund for military firefighters exposed to PFAS; to the Committee on Armed Services. By Ms. STRICKLAND (for herself and Mr. Posey), H51 [10JA] Cosponsors added, H824 [5MR], H1034 [7MR], H1149 [12MR], H2254 [9AP], H2938 [7MY] H.R. 6947 — A bill to establish within the Department of Veterans Affairs a Veterans Affairs History Office, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. TURNER (for himself and Mr. Landsman), H51 [10JA] H.R. 6948 — A bill to authorize affordable housing construction as an eligible activity under the Community Development Block Grant Program, and for other purposes; to the Committee on Financial Services. By Ms. WATERS, H51 [10JA] H.R. 6949 — A bill to reauthorize the Native American Housing Assistance and Self-Determination Act of 1996, and for other purposes; to the Committee on Financial Services. By Ms. WATERS, H51 [10JA] H.R. 6950 — A bill to require agencies with working dog programs to implement the recommendations of the Government Accountability Office relating to the health and welfare of working dogs, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. YAKYM (for himself and Ms. Titus), H51 [10JA] Cosponsors added, H242 [18JA], H2319 [11AP], H2399 [15AP], H3583 [3JN], H3657 [4JN], H4110 [14JN] H.R. 6951 — A bill to lower the cost of postsecondary education for students and families; to the Committee on Education and the Workforce. By Ms. FOXX (for herself, Mr. Owens, Mr. Grothman, Mr. Allen, Mr. Smucker, Mrs. McClain, Mrs. Steel, and Mr. Williams of New York), H105 [11JA] Cosponsors added, H254 [25JA], H318 [30JA], H639 [14FE], H681 [15FE], H688 [20FE], H694 [23FE], H739 [28FE], H782 [1MR], H824 [5MR], H1001 [6MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1190 [15MR], H1236 [19MR], H1297 [20MR], H1355 [21MR], H1500 [22MR], H2121 [26MR], H2136 [2AP], H2143 [5AP], H2254 [9AP], H2291 [10AP], H2368 [12AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H2559 [19AP], H2629 [23AP], H2636 [26AP], H2831 [1MY], H2876 [6MY], H2938 [7MY], H3000 [8MY], H3007 [10MY], H3205 [14MY], H3275 [15MY], H3358 [17MY], H3400 [21MY], H3486 [22MY], H3535 [28MY], H3543 [31MY], H3583 [3JN], H3657 [4JN], H3682 [7JN], H3727 [11JN], H3976 [12JN], H4110 [14JN] H.R. 6952 — A bill to amend title 31, United States Code, to provide for a joint meeting of the Congress to receive a presentation from the Comptroller General of the United States regarding the audited financial statement of the executive branch, and for other purposes; to the Committee on House Administration, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOORE of Utah (for himself, Mr. Peters, Mr. Barr, and Mr. Panetta), H105 [11JA] Cosponsors added, H274 [29JA], H739 [28FE] H.R. 6953 — A bill to establish comprehensive, annual congressional budgeting; to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOORE of Utah (for himself and Ms. Perez), H105 [11JA] Cosponsors added, H274 [29JA], H1190 [15MR] H.R. 6954 — A bill to reauthorize and amend the Nicaraguan Investment Conditionality Act of 2018 and the Reinforcing Nicaragua’s Adherence to Conditions for Electoral Reform Act of 2021, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMITH of New Jersey (for himself and Ms. Salazar), H105 [11JA] H.R. 6955 — A bill to amend title 5, United States Code, to provide that the positions of the Chief and Assistant Chief of the Uniformed Division of the United States Secret Service are within the Senior Executive Service, and for other purposes; to the Committee on Oversight and Accountability. By Mr. RUTHERFORD (for himself and Mr. Thompson of Mississippi), H105 [11JA] H.R. 6956 — A bill to amend title XIX of the Social Security Act to prohibit the Secretary of Health and Human Services from treating any Medicaid-related funds recovered from one or more pharmaceutical companies or drug distributors with respect to opioid litigation as an overpayment under such title, and for other purposes; to the Committee on Energy and Commerce. By Ms. KAPTUR (for herself and Mrs. Hinson), H105 [11JA] H.R. 6957 — A bill to require that the President’s annual budget submission to Congress and any concurrent resolution on the budget include the ratio of the public debt to the estimated gross domestic product of the United States, and for other purposes; to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMUCKER (for himself and Mr. Golden of Maine), H106 [11JA] Cosponsors added, H254 [25JA] H.R. 6958 — A bill to amend title 5, United States Code, to require cabinet officials to notify Congress in the event such an official is temporarily unable to perform the functions and duties of their position, and for other purposes; to the Committee on Oversight and Accountability. By Mr. BEAN of Florida (for himself, Mr. Tony Gonzales of Texas, Ms. Hageman, Mr. Miller of Ohio, Mrs. Luna, Mr. Ogles, and Mrs. Harshbarger), H106 [11JA] Cosponsors added, H133 [12JA], H274 [29JA], H318 [30JA] H.R. 6959 — A bill to amend title 5, United States Code, to provide that dependent children under the age of 26 are eligible for coverage under the Federal Employees Dental and Vision Insurance Program, and for other purposes; to the Committee on Oversight and Accountability. By Ms. BROWNLEY (for herself and Ms. Norton), H106 [11JA] Cosponsors added, H318 [30JA], H1094 [11MR] H.R. 6960 — A bill to amend the Public Health Service Act to reauthorize the Emergency Medical Services for Children program; to the Committee on Energy and Commerce. By Mr. CARTER of Georgia (for himself, Ms. Castor of Florida, Mr. Joyce of Pennsylvania, and Ms. Schrier), H106 [11JA] Cosponsors added, H694 [23FE], H2445 [16AP], H2503 [17AP], H2559 [19AP], H2629 [23AP], H2636 [26AP] Reported (H. Rept. 118–488), H2935 [7MY] Text, H3029 [14MY] Rules suspended. Passed House, H3255 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on Health, Education, Labor, and Pensions, S3752 [16MY] H.R. 6961 — A bill to amend title XVIII of the Social Security Act to provide coverage of medical nutrition therapy services for individuals with eating disorders under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CHU (for herself, Mr. Fitzpatrick, Ms. Blunt Rochester, and Mr. Bacon), H106 [11JA] Cosponsors added, H318 [30JA], H697 [26FE], H1034 [7MR], H1355 [21MR], H1500 [22MR], H2399 [15AP], H2629 [23AP], H3205 [14MY], H3275 [15MY], H3727 [11JN] H.R. 6962 — A bill to place the Financial Stability Oversight Council and the Office of Financial Research under the regular appropriations process, to provide for certain quarterly reporting and public notice and comment requirements for the Office of Financial Research, and for other purposes; to the Committee on Financial Services. By Mr. EMMER (for himself, Mr. Hill, Mrs. Kim of California, Mr. Posey, Mr. Sessions, Mr. Luetkemeyer, Mr. Fitzgerald, Mr. Loudermilk, Mr. Donalds, Mr. Barr, and Mr. Rose), H106 [11JA] Cosponsors added, H148 [16JA], H242 [18JA], H247 [22JA], H274 [29JA], H433 [5FE] H.R. 6963 — A bill to direct the Secretary of Health and Human Services to enter into agreements with drug manufacturers to establish reserve supplies of covered pediatric cancer drugs, and for other purposes; to the Committee on Energy and Commerce. By Ms. ESHOO (for herself, Ms. DeGette, and Ms. Schrier), H106 [11JA] Cosponsors added, H190 [17JA], H274 [29JA], H318 [30JA], H433 [5FE], H681 [15FE], H684 [16FE], H697 [26FE], H739 [28FE], H782 [1MR], H824 [5MR] H.R. 6964 — A bill to establish limitations on advanced payments for bus rolling stock, and for other purposes; to the Committee on Transportation and Infrastructure. By Mrs. FISCHBACH (for herself, Mr. Stauber, Mr. Rogers of Alabama, and Ms. Craig), H106 [11JA] Cosponsors added, H148 [16JA], H254 [25JA] H.R. 6965 — A bill to amend title XXVII of the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to establish requirements with respect to cost sharing for epinephrine injectors under group health plans and group and individual health insurance coverage; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FROST (for himself and Ms. Matsui), H106 [11JA] H.R. 6966 — A bill to amend the Communications Act of 1934 and title 17, United States Code, to provide greater access to in-State television broadcast programming for cable and satellite subscribers in certain counties; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GALLAGHER, H106 [11JA] H.R. 6967 — A bill to require the Administrator of the Federal Aviation Administration to establish procedures and reporting requirements for incidents relating to unidentified anomalous phenomena, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ROBERT GARCIA of California (for himself, Mr. Grothman, Mr. Moskowitz, Ms. Mace, Mr. Ogles, and Mrs. Luna), H106 [11JA] Cosponsors added, H242 [18JA], H274 [29JA] H.R. 6968 — A bill to direct the Secretary of Health and Human Services to give marriage and family therapists participating in the National Health Service Corps Loan Repayment Program the option of completing a postgraduate degree clinical training program that is accredited by the State in which the program is located in lieu of such a program that is accredited by the Commission on Accreditation for Marriage and Family Therapy Education; to the Committee on Energy and Commerce. By Mr. HARDER of California, H106 [11JA] H.R. 6969 — A bill to direct the Joint Committee on the Library to procure a statue of Benjamin Franklin for placement in the Capitol; to the Committee on House Administration. By Ms. HOULAHAN (for herself, Mr. Fitzpatrick, Mr. Boyle of Pennsylvania, Mr. Meuser, Ms. Dean of Pennsylvania, Mr. Kelly of Pennsylvania, Ms. Wild, Mr. Evans, Mrs. Dingell, Ms. Titus, Mrs. McClain, Mr. Wilson of South Carolina, Mr. Johnson of Ohio, Mr. Thompson of Pennsylvania, Ms. Mace, Mr. Pappas, Ms. Escobar, Mr. Keating, Mrs. Watson Coleman, Mr. Lawler, Mr. Wittman, Mr. Latta, Mr. Kildee, and Mrs. Bice), H106 [11JA] Cosponsors added, H504 [6FE], H774 [29FE], H1355 [21MR], H2503 [17AP], H3400 [21MY] H.R. 6970 — A bill to provide rental vouchers for the homeless, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. HOYLE of Oregon (for herself and Mr. Carbajal), H106 [11JA] H.R. 6971 — A bill to require the Secretary of Homeland Security to immediately initiate removal proceedings for aliens whose visas are revoked on security or related grounds; to the Committee on the Judiciary. By Mr. HUNT, H106 [11JA] H.R. 6972 — A bill to amend title 5, United States Code, to require an Executive agency whose head is a member of the National Security Council to notify the Executive Office of the President, the Comptroller General of the United States, and congressional leadership of such head becoming medically incapacitated within 24 hours, and for other purposes; to the Committee on Oversight and Accountability. By Mrs. KIGGANS of Virginia (for herself, Mr. Davis of North Carolina, Mr. Wittman, Mr. Fallon, Mr. Van Orden, Ms. Mace, Mr. Gimenez, Mr. Moylan, and Mr. Owens), H106 [11JA] Cosponsors added, H190 [17JA], H544 [9FE], H583 [13FE] Rules suspended. Passed House amended, H2840 [6MY] Text, H2841 [6MY] Message from the House, S3501 [7MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3501 [7MY] H.R. 6973 — A bill to permit COPS grants to be used for the purpose of increasing the compensation and hiring of law enforcement officers, and for other purposes; to the Committee on the Judiciary. By Mr. LaLOTA (for himself, Ms. Spanberger, Mrs. Kim of California, and Ms. Perez), H106 [11JA] Cosponsors added, H190 [17JA], H242 [18JA], H274 [29JA], H504 [6FE], H4115 [18JN] H.R. 6974 — A bill to direct the Administrator of the Western Area Power Administration to reduce rates for firm electric service customers due to shortfalls in generation from certain Bureau of Reclamation hydroelectric facilities, and for other purposes; to the Committee on Natural Resources. By Ms. MALOY, H106 [11JA] Cosponsors added, H190 [17JA], H824 [5MR], H1001 [6MR] H.R. 6975 — A bill to designate the United States courthouse located at 500 West Pike Street in Clarksburg, West Virginia, as the ‘‘Irene M. Keeley United States Courthouse’’, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MOONEY (for himself and Mrs. Miller of West Virginia), H106 [11JA] H.R. 6976 — A bill to amend the Immigration and Nationality Act to provide that aliens who have been convicted of or who have committed an offense for driving while intoxicated or impaired are inadmissible and deportable; to the Committee on the Judiciary. By Mr. MOORE of Alabama, H106 [11JA] Reported with amendment (H. Rept. 118–357), H251 [25JA] Providing for consideration (H. Res. 980), H270 [29JA] Passed House amended, H369 [1FE] Text, H369 [1FE] Message from the House, S360 [5FE] Referred to the Committee on the Judiciary, S2237 [6MR] H.R. 6977 — A bill to amend the Public Health Service Act to provide for a demonstration project for the development and publication of independent value assessments for drugs, and for other purposes; to the Committee on Energy and Commerce. By Mr. NADLER (for himself and Ms. Porter), H106 [11JA] Cosponsors added, H318 [30JA] H.R. 6978 — A bill to establish incentive pay for positions requiring specialized skills to combat fentanyl trafficking, and for other purposes; to the Committee on Oversight and Accountability. By Mr. NEGUSE (for himself and Ms. Lee of Florida), H106 [11JA] Cosponsors added, H3205 [14MY] H.R. 6979 — A bill to amend the Internal Revenue Code of 1986 to provide a credit to small businesses for research activities related to the mitigation of certain drug threats; to the Committee on Ways and Means. By Mr. NEGUSE (for himself, Ms. Dean of Pennsylvania, Mr. Bacon, Mr. Trone, Mr. Lawler, and Mr. Ciscomani), H106 [11JA] Cosponsors added, H2143 [5AP] H.R. 6980 — A bill to amend the Immigration and Nationality Act to provide for the reallocation of unused waivers of the foreign residency requirement for certain J-visa holders; to the Committee on the Judiciary. By Mr. NEHLS (for himself, Mr. Schneider, Ms. Stefanik, Mr. Davis of North Carolina, Mr. Valadao, Mr. Krishnamoorthi, Ms. Salazar, Ms. Sewell, Mr. Higgins of Louisiana, Mr. Casten, Mrs. Hinson, Ms. Salinas, Mr. Pascrell, Mr. Bera, Mr. Costa, and Mr. Vicente Gonzalez of Texas), H106 [11JA] Cosponsors added, H190 [17JA], H366 [31JA], H504 [6FE], H2291 [10AP], H2399 [15AP], H3583 [3JN] H.R. 6981 — A bill to amend title 18, United States Code, to prohibit unauthorized private paramilitary activity, and for other purposes; to the Committee on the Judiciary. By Mr. RASKIN (for himself, Mr. Carson, Mr. Casten, Mr. Goldman of New York, Mr. Grijalva, Mr. Mullin, Ms. Norton, Ms. Salinas, Ms. Schakowsky, Mr. Takano, and Mr. Johnson of Georgia), H106 [11JA] Cosponsors added, H254 [25JA], H739 [28FE], H2143 [5AP] H.R. 6982 — A bill to authorize the Assistant Secretary for Mental Health and Substance Use to award formula grants to the States to address gambling addiction, and for other purposes; to the Committee on Energy and Commerce. By Ms. SALINAS, H107 [11JA] Cosponsors added, H3526 [23MY] H.R. 6983 — A bill to designate the facility of the United States Postal Service located at 15 South Valdosta Road in Lakeland, Georgia, as the ‘‘Nell Patten Roquemore Post Office’’; to the Committee on Oversight and Accountability. By Mr. AUSTIN SCOTT of Georgia (for himself, Mr. Carter of Georgia, Mr. Bishop of Georgia, Mr. Ferguson, Mr. Johnson of Georgia, Ms. Williams of Georgia, Mr. McCormick, Mrs. McBath, Mr. Clyde, Mr. Collins, Mr. Loudermilk, Mr. Allen, Mr. David Scott of Georgia, and Ms. Greene of Georgia), H107 [11JA] Text, H3556 [3JN] Rules suspended. Passed House amended, H3569 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 6984 — A bill to designate the Federal building located at 300 E. 3rd Street in North Platte, Nebraska, as the ‘‘Virginia Smith Federal Building’’, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. SMITH of Nebraska (for himself, Mr. Bacon, and Mr. Flood), H107 [11JA] H.R. 6985 — A bill to require the Bureau of Prisons to issue identification documents to prisoners being released from Federal custody, and for other purposes; to the Committee on the Judiciary. By Mr. TRONE (for himself, Mr. Moore of Alabama, Mr. Moran, Ms. Dean of Pennsylvania, Ms. Jackson Lee, Mr. Armstrong, Mr. Fitzpatrick, Ms. Blunt Rochester, Mr. Crenshaw, Ms. Houlahan, Mrs. Watson Coleman, Mr. Rutherford, Mr. Mfume, Mr. Bacon, Mr. Jackson of Illinois, and Mr. McClintock), H107 [11JA] Cosponsors added, H254 [25JA], H694 [23FE], H782 [1MR], H1190 [15MR], H2559 [19AP] H.R. 6986 — A bill to address patent thickets; to the Committee on the Judiciary. By Mr. ARRINGTON (for himself, Mr. Pfluger, Mr. Issa, Mr. Doggett, Ms. Jayapal, and Mrs. Dingell), H132 [12JA] Cosponsors added, H318 [30JA], H2143 [5AP] H.R. 6987 — A bill to require the Secretary of Homeland Security to strengthen student visa background checks and improve the monitoring of foreign students in the United States, and for other purposes; to the Committee on the Judiciary. By Mr. BILIRAKIS, H132 [12JA] H.R. 6988 — A bill to amend title 18, United States Code, to strengthen the enforcement of certain court ordered property distributions; to the Committee on the Judiciary. By Mr. D’ESPOSITO (for himself, Mr. Costa, Mr. Carson, Mr. Swalwell, Mr. Grijalva, Mr. Lawler, and Ms. Sánchez), H132 [12JA] Cosponsors added, H190 [17JA] H.R. 6989 — A bill to amend an Act of Congress approved June 8, 1940, with respect to emergency permits for rights-of-way, and for other purposes; to the Committee on Natural Resources. By Mr. GOOD of Virginia, H132 [12JA] H.R. 6990 — A bill to modify the bases for ineligibility for countries to benefit from the Generalized System of Preferences, and for other purposes; to the Committee on Ways and Means. By Mr. LaHOOD, H132 [12JA] H.R. 6991 — A bill to designate the outpatient clinic of the Department of Veterans Affairs in Wyandotte County, Kansas City, Kansas, as the ‘‘Captain Elwin Shopteese VA Clinic’’; to the Committee on Veterans’ Affairs. By Mr. LaTURNER (for himself, Ms. Davids of Kansas, Mr. Estes, and Mr. Mann), H132 [12JA] H.R. 6992 — A bill to require the Secretary of Health and Human Services to establish a list of essential medicines, and for other purposes; to the Committee on Energy and Commerce. By Ms. MATSUI (for herself and Mr. Bucshon), H132 [12JA] Cosponsors added, H433 [5FE] H.R. 6993 — A bill to allow individuals to choose to opt out of the Medicare part A benefit; to the Committee on Ways and Means. By Mr. PALMER, H132 [12JA] Cosponsors added, H433 [5FE] H.R. 6994 — A bill to require the reopening of covered recreation sites closed due to a natural disaster, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. KIM of California (for herself, Mr. LaMalfa, and Mr. Tiffany), H147 [16JA] H.R. 6995 — A bill making continuing appropriations for the Armed Forces and certain Federal civilian personnel in the event of a Government shutdown during fiscal year 2024, and for other purposes; to the Committee on Appropriations. By Mr. BIGGS (for himself, Mr. Ogles, Mr. Rosendale, Mr. Crane, Mr. Burlison, Mr. Norman, and Mr. Clyde), H147 [16JA] Cosponsors added, H254 [25JA] H.R. 6996 — A bill to amend the Federal Election Campaign Act of 1971 to require broadcasting stations, providers of cable and satellite television, and online platforms to make reasonable efforts to ensure that political advertisements are not purchased by a foreign national; to the Committee on House Administration. By Mr. GOLDEN of Maine (for himself and Mr. Fitzpatrick), H147 [16JA] Cosponsors added, H583 [13FE] H.R. 6997 — A bill to establish an advisory group to encourage and foster collaborative efforts among individuals and entities engaged in disaster recovery relating to debris removal, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. LaLOTA (for himself and Mr. Pappas), H147 [16JA] Cosponsors added, H504 [6FE] H.R. 6998 — A bill to ensure equal treatment for certain faith-based organizations in certain Small Business Administration programs; to the Committee on Small Business. By Mr. MANN, H147 [16JA] H.R. 6999 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to require reports about the prosecution of certain offenses for recipients of Byrne grants, and for other purposes; to the Committee on the Judiciary. By Mr. MEUSER, H147 [16JA] Cosponsors added, H254 [25JA], H583 [13FE], H2254 [9AP] H.R. 7000 — A bill to amend the Consumer Financial Protection Act of 2010 to clarify the authority of the Bureau of Consumer Financial Protection with respect to persons regulated by a State insurance regulator, and for other purposes; to the Committee on Financial Services. By Mr. STEIL, H147 [16JA] Cosponsors added, H694 [23FE], H3400 [21MY], H3583 [3JN], H3682 [7JN] H.R. 7001 — A bill to require the Secretary of Agriculture to convey certain National Forest System land in the Chequamegon-Nicolet National Forest to Tony’s Wabeno Redi-Mix, LLC, and for other purposes; to the Committee on Agriculture. By Mr. TIFFANY, H147 [16JA] H.R. 7002 — A bill to provide for a wage differential program to support new nursing school faculty members; to the Committee on Energy and Commerce. By Ms. BONAMICI (for herself, Mr. Joyce of Ohio, Ms. Underwood, and Mrs. Kiggans of Virginia), H187 [17JA] Cosponsors added, H2254 [9AP], H2876 [6MY], H2938 [7MY] H.R. 7003 — A bill to amend the National Landslide Preparedness Act to reauthorize such Act; to the Committee on Natural Resources, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. DelBENE (for herself, Ms. Schrier, Ms. Perez, Ms. Strickland, Mr. Kilmer, Mr. Cartwright, Mr. Smith of Washington, Mr. Larsen of Washington, Mrs. Rodgers of Washington, Ms. Bonamici, and Mr. Newhouse), H187 [17JA] Cosponsors added, H247 [22JA], H274 [29JA], H318 [30JA], H504 [6FE], H681 [15FE], H2503 [17AP] H.R. 7004 — A bill to amend the Mineral Leasing Act to amend references of gilsonite to asphaltite; to the Committee on Natural Resources. By Mr. CURTIS (for himself, Mr. Moore of Utah, Ms. Maloy, and Mr. Owens), H187 [17JA] H.R. 7005 — A bill to require the Federal Communications Commission to establish a vetting process for prospective applicants for high-cost universal service program funding; to the Committee on Energy and Commerce. By Mr. CURTIS (for himself and Ms. Kuster), H187 [17JA] H.R. 7006 — A bill to prohibit natural asset companies from entering into any agreement with respect to land in the State of Utah or natural assets on or in such land; to the Committee on Natural Resources. By Mr. CURTIS, H187 [17JA] H.R. 7007 — A bill to award grants to States to establish or improve, and carry out, Seal of Biliteracy programs to recognize high-level student proficiency in speaking, reading, and writing in both English and a second language, and early language programs; to the Committee on Education and the Workforce. By Ms. BROWNLEY (for herself, Mr. Connolly, Ms. Moore of Wisconsin, Mr. Panetta, and Ms. Sánchez), H187 [17JA] Cosponsors added, H774 [29FE], H1149 [12MR], H1236 [19MR], H1355 [21MR], H2143 [5AP], H2254 [9AP], H2445 [16AP], H2831 [1MY], H2938 [7MY], H3400 [21MY], H3526 [23MY], H3543 [31MY], H3727 [11JN] H.R. 7008 — A bill to amend section 404 of the Federal Water Pollution Control Act relating to judicial review of a permit issued under such section, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. BURLISON (for himself and Mr. Rouzer), H187 [17JA] H.R. 7009 — A bill to authorize the Secretary of Transportation to approve as allowable costs the expenses of certain security measures in a revenue producing parking lot under section 47119 of title 49, United States Code, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. CARAVEO (for herself and Mr. Buck), H187 [17JA] H.R. 7010 — A bill to provide an incentive for States to extend child welfare support and services for youth through 21 years of age, and to allow youth to re-enter foster care after attaining 18 years of age, both without regard to the AFDC eligibility of their parents or legal guardians, and for other purposes; to the Committee on Ways and Means. By Ms. CHU (for herself and Mrs. Houchin), H187 [17JA] H.R. 7011 — A bill to designate the facility of the United States Postal Service located at 209 Main Street in Duncan, Arizona, as the ‘‘Sandra Day O’Connor Post Office’’; to the Committee on Oversight and Accountability. By Mr. CISCOMANI (for himself, Mrs. Lesko, Mr. Schweikert, Mr. Stanton, and Mr. Grijalva), H187 [17JA] H.R. 7012 — A bill to modify the public transportation emergency relief program, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. D’ESPOSITO (for himself, Mr. Auchincloss, Mr. Fitzpatrick, Mr. Menendez, Mr. Lawler, Ms. Brownley, Mrs. Chavez-DeRemer, Ms. Titus, Mr. Molinaro, Mr. Garamendi, Mr. Bacon, Mr. Espaillat, Mr. Ryan, and Mr. Blumenauer), H187 [17JA] Cosponsors added, H318 [30JA], H504 [6FE], H2254 [9AP], H2623 [20AP], H3526 [23MY], H3682 [7JN] H.R. 7013 — A bill to amend the Federal Water Pollution Control Act with respect to the scope of national pollutant discharge elimination system permit discharge authorizations and the expression of effluent limitations, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. DUARTE (for himself and Mr. Rouzer), H187 [17JA] H.R. 7014 — A bill to amend title XIX of the Social Security Act to prohibit Federal Medicaid funding for the administrative costs of providing health benefits to individuals who are unauthorized immigrants; to the Committee on Energy and Commerce. By Mr. HUDSON (for himself, Mr. Guthrie, and Mr. Calvert), H187 [17JA] Cosponsors added, H247 [22JA], H318 [30JA], H504 [6FE], H1094 [11MR], H2702 [29AP] H.R. 7015 — A bill to amend the Rural Innovation Stronger Economy Grant Program of the Department of Agriculture; to the Committee on Agriculture. By Mr. LANGWORTHY (for himself, Ms. Tokuda, Mr. Johnson of South Dakota, Mr. Krishnamoorthi, Mr. Moylan, Ms. Salinas, Mr. Duarte, Mr. LaMalfa, Mr. Davis of North Carolina, Mr. Nunn of Iowa, Ms. Caraveo, Mr. Mann, Ms. Craig, Mr. Lawler, Ms. Spanberger, Ms. Blunt Rochester, Mr. Sorensen, Mr. Fitzpatrick, and Mrs. Fischbach), H187 [17JA] Cosponsors added, H242 [18JA], H254 [25JA], H274 [29JA], H318 [30JA], H366 [31JA], H433 [5FE], H538 [7FE], H774 [29FE] H.R. 7016 — A bill to establish a grant program for innovative partnerships among teacher preparation programs, local educational agencies, and community-based organizations to expand access to high-quality tutoring in hard-to-staff schools and high-need schools, and for other purposes; to the Committee on Education and the Workforce. By Ms. LEE of Nevada (for herself, Mr. D’Esposito, and Mr. Trone), H187 [17JA] H.R. 7017 — A bill to amend the Internal Revenue Code of 1986 to take certain Medicare premiums of household members into account in determining the health care insurance premiums tax credit; to the Committee on Ways and Means. By Mr. LEVIN (for himself and Ms. Sánchez), H187 [17JA] Cosponsors added, H274 [29JA] H.R. 7018 — A bill to prohibit the sale and use of glue traps for the trapping of rodents, and for other purposes; to the Committee on Agriculture. By Mr. LIEU (for himself and Mr. Schiff), H187 [17JA] Cosponsors added, H274 [29JA], H583 [13FE] H.R. 7019 — A bill to amend the Securities Exchange Act of 1934 to address disclosures by directors, officers, and principal stockholders of foreign private issuers, and for other purposes; to the Committee on Financial Services. By Mr. LUETKEMEYER (for himself and Mr. Sherman), H187 [17JA] H.R. 7020 — A bill to direct the Administrator of the National Oceanic and Atmospheric Administration to conduct high-resolution mapping of the lakebeds of the Great Lakes, and for other purposes; to the Committee on Natural Resources. By Mrs. McCLAIN (for herself, Mrs. Dingell, Mr. Huizenga, Ms. Scholten, Mr. Stauber, Mr. Pocan, Mr. Bergman, Mr. Thanedar, Mr. James, Mr. Kildee, Mr. Lawler, Ms. Stevens, Mr. Langworthy, Ms. Slotkin, Mr. Davidson, Mr. Jackson of Illinois, Ms. Kaptur, Ms. Tlaib, and Mr. Schneider), H187 [17JA] Cosponsors added, H1355 [21MR] H.R. 7021 — A bill to amend the Federal Water Pollution Control Act with respect to the procedure for the development of water quality criteria, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. OWENS (for himself and Mr. Rouzer), H188 [17JA] H.R. 7022 — A bill to provide equitable treatment for the people of the Village Corporation established for the Native Village of Saxman, Alaska, and for other purposes; to the Committee on Natural Resources. By Mrs. PELTOLA, H188 [17JA] Cosponsors added, H3486 [22MY] H.R. 7023 — A bill to amend section 404 of the Federal Water Pollution Control Act to codify certain regulatory provisions relating to nationwide permits for dredged or fill material, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. ROUZER, H188 [17JA] Reported with amendments (H. Rept. 118–375), H501 [6FE] Providing for consideration (H. Res. 1085), H1233 [19MR] Debated, H1322 [21MR] Amendments, H1328, H1331, H1332, H1333, H1334, H1335, H1336, H1337 [21MR] Motion to recommit rejected, H1338 [21MR] Passed House amended, H1340 [21MR] Title amended, H1340 [21MR] Message from the House, S2591 [22MR] Referred to the Committee on Environment and Public Works, S2592 [22MR] H.R. 7024 — A bill to make improvements to the child tax credit, to provide tax incentives to promote economic growth, to provide special rules for the taxation of certain residents of Taiwan with income from sources within the United States, to provide tax relief with respect to certain Federal disasters, to make improvements to the low-income housing tax credit, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMITH of Missouri, H188 [17JA] Reported with amendment from the Committee on Ways and Means (H. Rept. 118–353, part 1) (submitted January 24, 2024), H251 [25JA] Committee on Rules discharged, H251 [25JA] Debated, H343 [31JA] Text, H343 [31JA] Rules suspended. Passed House amended, H358 [31JA] Message from the House, S342 [1FE] Read the first time, S2477 [20MR] Read the second time. Placed on the calendar, S2552 [21MR] H.R. 7025 — A bill to extend and authorize annual appropriations for the United States Commission on International Religious Freedom through fiscal year 2026; to the Committee on Foreign Affairs. By Mr. SMITH of New Jersey (for himself, Ms. Eshoo, Mr. Bilirakis, and Mr. Cuellar), H188 [17JA] Cosponsors added, H1094 [11MR], H2121 [26MR] H.R. 7026 — A bill to amend the Federal Water Pollution Control Act to clarify when the Administrator of the Environmental Protection Agency has the authority to prohibit the specification of a defined area, or deny or restrict the use of a defined area for specification, as a disposal site under section 404 of such Act, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. STAUBER (for himself and Mr. Rouzer), H188 [17JA] H.R. 7027 — A bill to amend title 1, United States Code, to clarify that certain tax exemptions are not treated as Federal financial assistance; to the Committee on the Judiciary. By Mr. STEUBE (for himself, Mr. Ogles, Mr. Lamborn, Mr. Duncan, Mr. Cline, Mr. Nehls, and Mr. Weber of Texas), H188 [17JA] Cosponsors added, H242 [18JA], H274 [29JA], H318 [30JA], H504 [6FE], H2291 [10AP] H.R. 7028 — A bill to authorize the issuance of visas and admission of certain aliens, and their derivatives, who were selected to apply for diversity immigrant visas but were unable to be issued such visas or be admitted to the United States as a result of certain Presidential Proclamations, and for other purposes; to the Committee on the Judiciary. By Mr. TORRES of New York (for himself, Ms. Chu, Ms. Lee of California, Ms. Kamlager-Dove, Ms. Williams of Georgia, Mr. Connolly, Mr. Foster, Ms. Bonamici, Mr. Meeks, Mr. Mfume, Mr. Quigley, Mr. Johnson of Georgia, Ms. Garcia of Texas, Mr. Blumenauer, Mr. Huffman, Mr. Garamendi, Mr. Grijalva, Mr. Cohen, Ms. Adams, Ms. Eshoo, Ms. Wasserman Schultz, Ms. Norton, Ms. Velázquez, Ms. Dean of Pennsylvania, Mr. Cleaver, Mr. Takano, Mr. Casten, Mr. Carson, Ms. Pingree, Ms. Moore of Wisconsin, Ms. Tokuda, Mr. Vargas, Mr. Tonko, Ms. Clarke of New York, Mrs. Napolitano, Mrs. Dingell, Mr. Nickel, Mrs. Watson Coleman, Mr. García of Illinois, Mr. Phillips, Mr. Frost, Mr. Peters, Ms. McCollum, Ms. Meng, Ms. Balint, Ms. Crockett, Mr. Norcross, Ms. Schakowsky, Mr. Schiff, Ms. Titus, Ms. Jacobs, Mr. Green of Texas, Ms. Escobar, Ms. Barragán, Mr. Khanna, Mr. Cárdenas, Ms. Brownley, Mr. Espaillat, Mr. Gomez, Mr. Morelle, Mr. Pocan, Mr. McGovern, Mr. Trone, Mr. Smith of Washington, Mr. Robert Garcia of California, and Mr. Krishnamoorthi), H188 [17JA] Cosponsors added, H538 [7FE], H694 [23FE], H782 [1MR], H1190 [15MR] H.R. 7029 — A bill to amend the Internal Revenue Code of 1986 to remove the differentiation between mead and low alcohol by volume wine for purposes of the tax imposed on wines; to the Committee on Ways and Means. By Mr. BLUMENAUER (for himself and Mr. Kelly of Pennsylvania), H239 [18JA] Cosponsors added, H433 [5FE], H3682 [7JN] H.R. 7030 — A bill to require the Securities and Exchange Commission to periodically review final rules issued by the Commission and to amend the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, and the Investment Advisers Act of 1940 to require the Securities and Exchange Commission to consider the cumulative effect of proposed and final rules, and for other purposes; to the Committee on Financial Services. By Mrs. KIM of California (for herself, Mrs. Wagner, Mr. Hill, Mr. Huizenga, Mr. Garbarino, and Mr. Barr), H239 [18JA] H.R. 7031 — A bill to ensure that women seeking an abortion receive an ultrasound and the opportunity to review the ultrasound before giving informed consent to receive an abortion; to the Committee on Energy and Commerce. By Mr. BIGGS (for himself, Mr. Duncan, Mr. Harris, Mr. Rosendale, Mr. Mooney, Mrs. Miller of Illinois, Mr. Crenshaw, and Mr. Burlison), H239 [18JA] Cosponsors added, H254 [25JA], H390 [1FE], H504 [6FE] H.R. 7032 — A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to provide the Congressional Budget Office with necessary authorities to expedite the sharing of data from executive branch agencies, and for other purposes; to the Committee on the Budget. By Mr. BOYLE of Pennsylvania (for himself and Mr. Arrington), H239 [18JA] Cosponsors added, H2368 [12AP], H2399 [15AP], H2702 [29AP] Reported (H. Rept. 118–474), H2699 [29AP] Rules suspended. Passed House, H2679 [29AP] Text, H2679 [29AP] Message from the House, S3077 [30AP] H.R. 7033 — A bill to amend the Internal Revenue Code of 1986 to apply a 6 percent excise tax on large endowments of certain private colleges and universities, and for other purposes; to the Committee on Ways and Means. By Mr. CALVERT, H239 [18JA] H.R. 7034 — A bill to designate Mauritania under section 244 of the Immigration and Nationality Act to permit nationals of Mauritania to be eligible for temporary protected status under such section, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CAREY (for himself, Mrs. Beatty, and Mr. Landsman), H239 [18JA] Cosponsors added, H583 [13FE] H.R. 7035 — A bill to amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes; to the Committee on Ways and Means. By Mr. FEENSTRA (for himself, Mr. Bishop of Georgia, Ms. Tenney, Mr. Austin Scott of Georgia, Mrs. Wagner, Mr. Bishop of North Carolina, Mr. Perry, Mr. Mann, Mr. Graves of Missouri, Mrs. Cammack, Mr. Bost, Mr. Kustoff, Mr. Tiffany, Mr. Gooden of Texas, Mr. Finstad, Mr. Moolenaar, Mr. Guest, Mr. Moore of Utah, Mrs. Hinson, Mr. Williams of Texas, Mr. Thompson of Pennsylvania, Mr. Burchett, Mrs. Miller of West Virginia, Mr. Smucker, Mr. Norman, Mr. Guthrie, Mr. Reschenthaler, Mr. Roy, Ms. Foxx, Mr. Pfluger, Mr. Weber of Texas, Mrs. Harshbarger, Mr. Jackson of Texas, Mr. Alford, Mr. Rose, Mr. LaHood, Mr. Smith of Nebraska, Mr. Johnson of Ohio, Mr. Griffith, Mr. Green of Tennessee, Mr. Fleischmann, Mr. Cloud, Ms. Stefanik, Mr. Murphy, Mr. Good of Virginia, Mrs. Spartz, Mr. Womack, Mr. Joyce of Pennsylvania, Ms. Van Duyne, Mr. Newhouse, Mrs. Miller-Meeks, Mr. Fry, Mr. Curtis, Mr. Allen, Mr. Davidson, Mr. Langworthy, Mr. Bucshon, Mr. Babin, Mr. Nunn of Iowa, Mr. Nehls, Mr. Rosendale, Mrs. Bice, Mr. Aderholt, Mr. Balderson, Mr. Bilirakis, Mr. Kelly of Pennsylvania, Mrs. McClain, Mr. Gosar, Mr. Carey, Ms. Hageman, Mrs. Steel, Mr. Banks, Mr. Carter of Georgia, Mr. Graves of Louisiana, Ms. Boebert, Mr. Arrington, Mr. Barr, Mr. Ellzey, Mr. Bacon, Mr. Meuser, Mr. Hern, Mr. Sessions, Mr. Donalds, Mr. Kelly of Mississippi, Mr. Edwards, Mr. Turner, Mr. Baird, Mr. Ogles, Mr. Valadao, Mr. Van Drew, Mr. Moylan, Mr. Carter of Texas, Mr. Fitzgerald, Mr. Steube, Mr. Higgins of Louisiana, Mr. Scott Franklin of Florida, Mr. Duarte, Mr. Tony Gonzales of Texas, Mr. Burlison, Mr. Lawler, Mr. Hudson, Mr. Duncan, Mrs. Lesko, Ms. Mace, Mr. Ferguson, Mr. Yakym, Mr. Mills, Mr. Biggs, Mrs. Miller of Illinois, Mr. Rouzer, Mr. McClintock, Mr. LaTurner, Mr. Pence, Mr. Simpson, Mr. Rutherford, Mr. Westerman, Ms. Letlow, Mr. LaMalfa, Mr. Stauber, Mr. Luetkemeyer, Mr. Buchanan, Mr. Van Orden, Mrs. Houchin, Mr. McCaul, Mr. Steil, Mr. Palmer, Mrs. Fischbach, Mr. Cline, Mr. Latta, Mr. Garbarino, Mr. Carl, Mr. Calvert, Mr. Fulcher, Mr. Mike Garcia of California, Mr. Bean of Florida, Mr. Jordan, Ms. De La Cruz, Mr. Moran, Mr. Bergman, Mr. Self, Mr. Moore of Alabama, Mr. Walberg, Mr. Ezell, Mr. Buck, Mr. Hill, Mrs. Rodgers of Washington, Mr. Collins, Mr. Kiley, Mr. Clyde, Mr. Mooney, Mr. Waltz, Mr. Crenshaw, Mr. DesJarlais, Mr. Armstrong, Mrs. Chavez-DeRemer, Mr. Wilson of South Carolina, Mr. Miller of Ohio, Ms. Granger, Mr. Gaetz, Mr. Zinke, Mr. McCormick, and Mr. Ciscomani), H239 [18JA] Cosponsors added, H318 [30JA], H504 [6FE], H2319 [11AP], H2636 [26AP], H3526 [23MY] H.R. 7036 — A bill to amend the Federal Credit Union Act to modify requirements relating to the regulation and examination of credit union organizations and service providers, to provide the Director of the Federal Housing Finance Agency with the authority to regulate the provision of services provided to the Government-sponsored enterprises and Federal Home Loan Banks, and for other purposes; to the Committee on Financial Services. By Mr. FOSTER, H239 [18JA] H.R. 7037 — A bill to amend the Endangered Species Act of 1973 to exclude certain populations of the lake sturgeon from the authority of such Act; to the Committee on Natural Resources. By Mr. GALLAGHER (for himself and Mr. Grothman), H239 [18JA] Cosponsors added, H688 [20FE], H739 [28FE] H.R. 7038 — A bill to provide a guaranteed income for older youth who have exited foster care; to the Committee on Ways and Means. By Mr. ROBERT GARCIA of California (for himself, Ms. Omar, and Ms. Lee of California), H239 [18JA] Cosponsors added, H1001 [6MR], H2254 [9AP] H.R. 7039 — A bill to amend title 49, United States Code, to establish a program to provide grants to eligible recipients for eligible operating support costs of public transportation, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. JOHNSON of Georgia (for himself, Ms. Adams, Mr. Auchincloss, Ms. Barragán, Mrs. Beatty, Mr. Bishop of Georgia, Mr. Blumenauer, Ms. Blunt Rochester, Mr. Bowman, Mr. Boyle of Pennsylvania, Ms. Brown, Ms. Bush, Mr. Cárdenas, Mr. Carson, Mrs. Cherfilus-McCormick, Mr. Cohen, Mr. Davis of Illinois, Ms. DelBene, Mr. Espaillat, Mr. Evans, Mrs. Foushee, Mr. Frost, Mr. García of Illinois, Ms. Garcia of Texas, Mr. Goldman of New York, Mr. Gomez, Mr. Grijalva, Ms. Norton, Mr. Huffman, Mr. Ivey, Mr. Jackson of Illinois, Ms. Jackson Lee, Ms. Jayapal, Ms. Kamlager-Dove, Mr. Krishnamoorthi, Ms. Lee of California, Ms. Lee of Pennsylvania, Mr. Lynch, Ms. McClellan, Ms. Meng, Ms. Moore of Wisconsin, Mr. Moulton, Mr. Mullin, Mr. Nadler, Mrs. Napolitano, Ms. Ocasio-Cortez, Ms. Omar, Mr. Payne, Ms. Pelosi, Ms. Ross, Mr. Ruppersberger, Ms. Salinas, Ms. Sánchez, Ms. Schakowsky, Mr. Schiff, Ms. Stansbury, Mr. Thanedar, Ms. Titus, Ms. Tlaib, Mr. Torres of New York, Mr. Vargas, Mr. Vasquez, Ms. Velázquez, Mrs. Watson Coleman, Ms. Wilson of Florida, and Ms. Porter), H239 [18JA] Cosponsors added, H254 [25JA], H318 [30JA], H366 [31JA], H390 [1FE], H681 [15FE], H694 [23FE], H739 [28FE], H1058 [8MR], H1182 [13MR], H1190 [15MR], H1298 [20MR], H2254 [9AP], H2368 [12AP], H2938 [7MY], H3205 [14MY], H3275 [15MY], H3400 [21MY], H4064 [13JN], H4115 [18JN] H.R. 7040 — A bill to extend the Undetectable Firearms Act of 1988 for 10 years; to the Committee on the Judiciary. By Mr. LAWLER (for himself and Ms. Dean of Pennsylvania), H239 [18JA] Cosponsors added, H544 [9FE], H1034 [7MR] H.R. 7041 — A bill to amend the Internal Revenue Code of 1986 to impose a corporate tax rate increase on companies whose ratio of compensation of the CEO or other highest paid employee to median worker compensation is more than 50 to 1, and for other purposes; to the Committee on Ways and Means. By Ms. LEE of California (for herself, Ms. Tlaib, Ms. Norton, Mrs. Watson Coleman, Mr. Khanna, Mr. García of Illinois, Mr. McGovern, Ms. Omar, Ms. Jayapal, Ms. Bush, Mr. Huffman, Mr. Grijalva, and Mr. Bowman), H239 [18JA] Cosponsors added, H583 [13FE], H1190 [15MR], H2291 [10AP] H.R. 7042 — A bill to reform the Bureau of Alcohol, Tobacco, Firearms, and Explosives; to the Committee on the Judiciary. By Mr. MANN (for himself, Mr. Davidson, Mr. Ezell, Mr. Ellzey, Mr. Grothman, Mr. Moran, Mr. Rouzer, Mr. Tiffany, Mr. Walberg, Mr. Jackson of Texas, Mr. McCormick, Mr. Alford, Mr. Duncan, Mr. LaMalfa, Mr. Clyde, Mrs. Miller of Illinois, and Mr. Burchett), H239 [18JA] Cosponsors added, H254 [25JA], H583 [13FE], H639 [14FE], H694 [23FE], H697 [26FE], H774 [29FE], H824 [5MR], H1182 [13MR], H2522 [18AP], H3675 [5JN] H.R. 7043 — A bill to direct the Federal Communications Commission to issue reports after activation of the Disaster Information Reporting System and to make improvements to network outage reporting, and for other purposes; to the Committee on Energy and Commerce. By Ms. MATSUI (for herself and Mr. Bilirakis), H239 [18JA] H.R. 7044 — A bill to ensure that women seeking an abortion are notified, before giving informed consent to receive an abortion, of the medical risks associated with the abortion procedure and the major developmental characteristics of the unborn child; to the Committee on Energy and Commerce. By Mrs. McCLAIN (for herself, Mr. Jackson of Texas, Mr. Guest, Mr. Guthrie, Mr. Harris, Mr. Mann, Mr. Weber of Texas, Mr. Sessions, Mr. Fleischmann, Mr. Kustoff, Mr. Scott Franklin of Florida, Mr. Mooney, Mr. Banks, and Mrs. Lesko), H240 [18JA] Cosponsors added, H318 [30JA], H504 [6FE] H.R. 7045 — A bill to amend the Internal Revenue Code of 1986 to allow a credit against tax for contributions to qualifying pregnancy centers; to the Committee on Ways and Means. By Mrs. MILLER of West Virginia (for herself, Mrs. Miller of Illinois, Mr. Duncan, Mr. Mooney, Mr. Guest, Mr. Banks, and Mr. Westerman), H240 [18JA] Cosponsors added, H247 [22JA], H254 [25JA], H274 [29JA] H.R. 7046 — A bill to direct the Secretary of Labor to modify the implementation of the adverse effect wage rate for H-2A nonimmigrants; to the Committee on the Judiciary. By Mr. MOOLENAAR (for himself, Mr. Huizenga, Mr. Newhouse, Mr. Bergman, Mr. Walberg, Mrs. McClain, and Mr. Lucas), H240 [18JA] Cosponsors added, H318 [30JA], H538 [7FE], H694 [23FE], H824 [5MR], H1034 [7MR], H1058 [8MR], H1094 [11MR], H1149 [12MR], H1236 [19MR], H2130 [29MR], H2291 [10AP], H2636 [26AP], H3682 [7JN], H4110 [14JN] H.R. 7047 — A bill to prohibit funding for the World Economic Forum; to the Committee on Foreign Affairs. By Mr. PERRY (for himself, Mr. Tiffany, Mr. Gosar, Mr. Ogles, Mr. Rosendale, and Mrs. Harshbarger), H240 [18JA] Cosponsors added, H318 [30JA], H583 [13FE] H.R. 7048 — A bill to amend the Immigration and Nationality Act to modify provisions relating to assistance by States, and political subdivisions of States, in the enforcement of Federal immigration laws, and for other purposes; to the Committee on the Judiciary. By Mr. PFLUGER, H240 [18JA] H.R. 7049 — A bill to repeal the Department of Veterans Affairs directive relating to the COVID-19 vaccination program for Veterans Health Administration health care personnel, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. ROY (for himself, Mr. Crane, Mr. Perry, Mr. Cloud, Mr. Clyde, Mrs. Miller of Illinois, Mr. Rosendale, Mr. Good of Virginia, Mr. Ogles, Mr. Rutherford, Mr. Bishop of North Carolina, Mr. Jackson of Texas, Mr. Collins, Mr. Gosar, Mr. Burlison, Mr. Johnson of South Dakota, and Mr. Williams of Texas), H240 [18JA] Cosponsors added, H254 [25JA], H366 [31JA], H639 [14FE], H694 [23FE] H.R. 7050 — A bill to amend title XVIII of the Social Security Act to provide for the distribution of additional residency positions to help combat the substance use disorder crisis; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCHNEIDER (for himself, Ms. Kuster, Mr. Valadao, Mr. Carey, and Mr. Kelly of Pennsylvania), H240 [18JA] Cosponsors added, H390 [1FE], H544 [9FE], H681 [15FE], H694 [23FE], H1150 [12MR], H1298 [20MR], H1355 [21MR], H2136 [2AP], H2522 [18AP] H.R. 7051 — A bill to amend title 18, United States Code, to revise recidivist penalty provisions for child sexual exploitation offenses to uniformly account for prior military convictions, thereby ensuring parity among Federal, State, and military convictions, and for other purposes; to the Committee on the Judiciary. By Ms. TENNEY (for herself and Ms. Ross), H240 [18JA] Cosponsors added, H433 [5FE] H.R. 7052 — A bill to amend part D of title IV of the Social Security Act to ensure that child support for unborn children is collected and distributed under the child support enforcement program, and for other purposes; to the Committee on Ways and Means. By Ms. TENNEY (for herself, Mr. Langworthy, Mr. Cline, Mr. Moolenaar, Mrs. Luna, Mr. Ogles, and Mr. Guthrie), H240 [18JA] H.R. 7053 — A bill to amend the Energy Policy Act of 2005 to address measuring methane emissions, and for other purposes; to the Committee on Natural Resources. By Mr. THOMPSON of Pennsylvania (for himself and Mr. Deluzio), H240 [18JA] Cosponsors added, H366 [31JA], H2254 [9AP], H2629 [23AP], H4064 [13JN] H.R. 7054 — A bill to require the Secretary of Energy to remove carbon dioxide directly from ambient air or seawater, and for other purposes; to the Committee on Energy and Commerce. By Mr. TONKO (for himself and Mr. Peters), H240 [18JA] H.R. 7055 — A bill to amend title XVI of the Social Security Act to provide that the supplemental security income benefits of adults with intellectual or developmental disabilities shall not be reduced by reason of marriage; to the Committee on Ways and Means. By Mr. VALADAO (for himself, Ms. Lee of Nevada, Mr. Lawler, Mr. Kilmer, Mr. Molinaro, and Ms. Blunt Rochester), H240 [18JA] Cosponsors added, H504 [6FE], H583 [13FE], H1236 [19MR], H2629 [23AP] H.R. 7056 — A bill to prohibit the limitation of access to assisted reproductive technology, and all medical care surrounding such technology; to the Committee on Energy and Commerce. By Ms. WILD, H240 [18JA] Cosponsors added, H688 [20FE], H694 [23FE], H697 [26FE], H739 [28FE], H774 [29FE], H782 [1MR], H824 [5MR], H1001 [6MR], H1034 [7MR], H1058 [8MR], H1182 [13MR], H1190 [15MR], H1298 [20MR], H1500 [22MR], H2121 [26MR], H2130 [29MR], H2143 [5AP], H2319 [11AP], H2368 [12AP], H2399 [15AP], H2623 [20AP], H3205 [14MY], H3275 [15MY], H3330 [16MY], H3358 [17MY], H3657 [4JN], H3682 [7JN] Removal of cosponsors, H740 [28FE] H.R. 7057 — A bill to require the Financial Stability Oversight Council to report to Congress annually on the threat illegal immigration poses to the financial stability of the United States and recommendations on mitigating such threat, and for other purposes; to the Committee on Financial Services. By Mr. WILLIAMS of Texas, H240 [18JA] H.R. 7058 — A bill to establish a Border Security Reserve Fund to be used by border States and the U.S. Border Patrol to invest in border security, and for other purposes; to the Committee on Homeland Security. By Mr. WILLIAMS of Texas, H240 [18JA] H.R. 7059 — A bill to amend the Public Health Service Act to authorize a grant program to increase capacity for providing abortion services and other sexual and reproductive health care, and for other purposes; to the Committee on Energy and Commerce. By Ms. CARAVEO (for herself, Ms. Chu, Ms. Escobar, Ms. Jacobs, Ms. Norton, Ms. Tlaib, Mrs. Hayes, Ms. Wild, Mr. Connolly, Ms. Salinas, Ms. Schakowsky, Mrs. Cherfilus-McCormick, Ms. Titus, Ms. Craig, Ms. Crockett, Ms. Velázquez, Mr. Takano, Ms. McClellan, Ms. Adams, Ms. Lee of California, Mr. Robert Garcia of California, Ms. Ross, Mrs. Watson Coleman, Ms. Castor of Florida, Ms. Williams of Georgia, Ms. Stansbury, Mr. Trone, Mr. Frost, Ms. Brownley, Ms. Pettersen, Mrs. Fletcher, Mr. Casten, Ms. Lee of Pennsylvania, Mr. Allred, Ms. Stevens, Ms. Spanberger, Mr. Davis of Illinois, Ms. Meng, Ms. Lee of Nevada, Ms. Lois Frankel of Florida, Mr. Mullin, Mr. Goldman of New York, Mr. Smith of Washington, Mrs. Trahan, Mr. Vargas, Mr. Larson of Connecticut, Ms. Wilson of Florida, Mr. Johnson of Georgia, Mr. Moskowitz, Ms. DeGette, Ms. Tokuda, Ms. Garcia of Texas, Ms. Barragán, Mr. Khanna, Ms. Dean of Pennsylvania, Mrs. Torres of California, Mr. Espaillat, Mrs. Sykes, Mr. Sorensen, Mrs. Ramirez, Mr. Ivey, Mr. Carson, Mr. Cohen, and Ms. Balint), H245 [22JA] Cosponsors added, H254 [25JA], H274 [29JA], H366 [31JA], H390 [1FE], H433 [5FE], H504 [6FE], H583 [13FE], H681 [15FE], H684 [16FE], H688 [20FE], H694 [23FE], H2130 [29MR], H2368 [12AP], H2876 [6MY] H.R. 7060 — A bill to make permanent the authority to reimburse members for spouse relicensing costs pursuant to a permanent change of station; to the Committee on Armed Services. By Mr. CARTWRIGHT (for himself, Ms. Norton, Ms. Moore of Wisconsin, Mrs. Torres of California, Mr. McGovern, and Mrs. Peltola), H246 [22JA] Cosponsors added, H274 [29JA], H318 [30JA], H390 [1FE], H504 [6FE], H583 [13FE], H774 [29FE] H.R. 7061 — A bill to provide loans and other financial assistance to small businesses affected by the wildfires on Maui, and for other purpose; to the Committee on Small Business, and in addition to the Committees on Ways and Means, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CASE, H246 [22JA] H.R. 7062 — A bill to direct the Secretary of Agriculture to periodically assess cybersecurity threats to, and vulnerabilities in, the agriculture and food critical infrastructure sector and to provide recommendations to enhance their security and resilience, to require the Secretary of Agriculture to conduct an annual cross-sector simulation exercise relating to a food-related emergency or disruption, and for other purposes; to the Committee on Agriculture. By Mr. FINSTAD (for himself, Ms. Slotkin, Mr. Kelly of Mississippi, Ms. Tokuda, Mr. Bacon, Ms. Caraveo, Mrs. Hinson, Mr. Soto, Mr. Moolenaar, Mr. Jackson of Texas, Mr. Austin Scott of Georgia, Mr. Nunn of Iowa, Mr. Alford, and Mr. Smucker), H246 [22JA] H.R. 7063 — A bill to prohibit Federal funds from being made available to any pregnancy center that diverts people from accessing comprehensive and timely medical care from licensed medical professionals; to the Committee on Energy and Commerce. By Mr. LANDSMAN, H246 [22JA] H.R. 7064 — A bill to amend the Farm Security and Rural Investment Act of 2002 to include the provision of tree nuts (including shelled tree nuts) under the seniors farmers’ market nutrition program, and for other purposes; to the Committee on Agriculture. By Mr. MOORE of Alabama (for himself and Mr. Vasquez), H246 [22JA] H.R. 7065 — A bill to include water supply and water conservation as a primary mission of the Corps of Engineers in planning, designing, constructing, modifying, operating, and maintaining water resources development projects, and for other purposes; to the Committee on Transportation and Infrastructure. By Mrs. NAPOLITANO (for herself and Mr. LaMalfa), H246 [22JA] Cosponsors added, H433 [5FE], H4115 [18JN] H.R. 7066 — A bill to prohibit the use of Federal funds to allow or study the breach or alteration of the Lower Snake River dams or implement the Columbia Basin Restoration Initiative, and for other purposes; to the Committee on Natural Resources. By Mr. NEWHOUSE (for himself, Mrs. Chavez-DeRemer, Mrs. Rodgers of Washington, Mr. Fulcher, and Mr. Bentz), H246 [22JA] H.R. 7067 — A bill to amend the Coastal Zone Management Act of 1972 to allow the District of Columbia to receive Federal funding under such Act, and for other purposes; to the Committee on Natural Resources. By Ms. NORTON, H246 [22JA] H.R. 7068 — A bill to amend the Controlled Substances Act to provide for the scheduling of tianeptine as a schedule III substance, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PANETTA (for himself and Mr. Pfluger), H246 [22JA] Cosponsors added, H366 [31JA] H.R. 7069 — A bill to amend the Federal Fire Prevention and Control Act of 1974 to expand permissible uses of assistance to firefighters grant funds relating to behavioral and mental health, and for other purposes; to the Committee on Science, Space, and Technology. By Ms. SALINAS (for herself and Ms. Tokuda), H246 [22JA] H.R. 7070 — A bill to direct the Administrator of the Federal Emergency Management Agency to conduct a review of the criteria for evaluating the cost-effectiveness of certain mitigation projects, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. STANTON (for himself and Mr. LaMalfa), H246 [22JA] Cosponsors added, H318 [30JA], H3526 [23MY], H3727 [11JN] H.R. 7071 — A bill to amend section 7(b) of the Small Business Act to make disaster loans available for damages caused by prolonged power outages, and for other purposes; to the Committee on Small Business. By Ms. STEVENS, H246 [22JA] Cosponsors added, H2254 [9AP] H.R. 7072 — A bill to require the Secretary of Agriculture to convey certain National Forest System land in the Chequamegon-Nicolet National Forest to Tony’s Wabeno Redi-Mix, LLC, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TIFFANY, H246 [22JA] H.R. 7073 — A bill to improve public-private partnerships and increase Federal research, development, and demonstration related to the evolution of next generation pipeline systems, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. WEBER of Texas (for himself, Ms. Caraveo, Mr. Lucas, and Mr. Obernolte), H246 [22JA] Cosponsors added, H1236 [19MR] H.R. 7074 — A bill to affirm the State of Texas’s right to implement operational protections along the southern border, to authorize the State to construct a physical border wall in areas where the international border is not adequately protected with physical barriers, and to allow reimbursement from the Federal Government; to the Committee on the Judiciary. By Mr. WILLIAMS of Texas, H246 [22JA] Cosponsors added, H688 [20FE] H.R. 7075 — A bill to reauthorize the HOME Investment Partnerships Program, and for other purposes; to the Committee on Financial Services. By Mrs. BEATTY (for herself, Mr. Garamendi, Ms. Bonamici, Ms. Brown, Mr. Carson, Mr. Cleaver, Mr. Evans, Ms. Garcia of Texas, Mr. Ivey, Mr. Kildee, Ms. Kuster, Ms. Lee of California, Ms. Norton, Ms. Omar, Ms. Salinas, Mr. Sherman, Mrs. Sykes, Ms. Titus, Ms. Tlaib, Mr. Vargas, Mrs. Watson Coleman, and Ms. Williams of Georgia), H251 [25JA] Cosponsors added, H433 [5FE], H538 [7FE], H1034 [7MR], H1058 [8MR], H1298 [20MR], H2130 [29MR], H2254 [9AP], H2399 [15AP] H.R. 7076 — A bill to promote innovative practices for soil health through USDA conservation programs, and for other purposes; to the Committee on Agriculture. By Mr. BEYER (for himself, Mr. Lawler, and Ms. Pingree), H251 [25JA] H.R. 7077 — A bill to expand the categories of forfeited property available to remediate harms to Ukraine from Russian aggression, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BOYLE of Pennsylvania (for himself and Mr. Keating), H251 [25JA] Cosponsors added, H583 [13FE], H2522 [18AP] H.R. 7078 — A bill to amend title 31, United States Code, to prohibit the misrepresentation and receipt of a false obligation to the Government, and for other purposes; to the Committee on the Judiciary. By Mr. BUCK, H251 [25JA] H.R. 7079 — A bill to prohibit the Administrator of the Environmental Protection Agency from finalizing, implementing, or enforcing certain changes to regulations regarding meat and poultry products effluent discharges, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. BURLISON (for himself, Mr. Estes, Mr. Ogles, and Mr. Edwards), H251 [25JA] Cosponsors added, H824 [5MR], H1150 [12MR], H2143 [5AP], H2522 [18AP] H.R. 7080 — A bill to reinstate pre-pandemic telework policies of Executive agencies, and for other purposes; to the Committee on Oversight and Accountability. By Mr. CARL, H251 [25JA] H.R. 7081 — A bill to establish a process for waiver of coastwise endorsement requirements; to the Committee on Transportation and Infrastructure. By Mr. CLINE, H251 [25JA] H.R. 7082 — A bill to require States to establish complete streets programs, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. COHEN (for himself and Mr. Auchincloss), H251 [25JA] Cosponsors added, H366 [31JA], H583 [13FE], H684 [16FE], H1001 [6MR], H1058 [8MR], H1236 [19MR], H1355 [21MR], H1500 [22MR], H2121 [26MR], H2254 [9AP], H2291 [10AP], H2319 [11AP], H2771 [30AP], H2876 [6MY], H3205 [14MY], H3531 [24MY] H.R. 7083 — A bill to prohibit the Federal Government from removing or altering a barrier, fence, barbed wire, or obstacle constructed by a State along the United States border for the purpose of preventing unlawful crossings, and for other purposes; to the Committee on Homeland Security. By Mr. COLLINS (for himself, Mr. Self, Mr. Norman, Mr. Burchett, Mr. Cloud, Mr. Nehls, Mr. Ogles, Mr. Bean of Florida, Mr. Moore of Alabama, Mr. D’Esposito, Ms. Boebert, Ms. De La Cruz, Mr. Feenstra, Mrs. Miller of Illinois, Mr. McCormick, Mr. Luttrell, Mr. Babin, and Mr. Mills), H251 [25JA] Cosponsors added, H274 [29JA], H318 [30JA], H366 [31JA], H390 [1FE], H433 [5FE], H681 [15FE], H2559 [19AP] H.R. 7084 — A bill to amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of social security benefits, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CRAIG (for herself, Mr. Khanna, Ms. Caraveo, Mr. Davis of North Carolina, Mrs. Peltola, Ms. Salinas, and Ms. Scholten), H251 [25JA] Cosponsors added, H538 [7FE], H1034 [7MR], H2291 [10AP], H2559 [19AP], H4115 [18JN] H.R. 7085 — A bill to prohibit contracting with certain biotechnology providers, and for other purposes; to the Committee on Oversight and Accountability. By Mr. GALLAGHER (for himself, Mr. Krishnamoorthi, Mr. Auchincloss, Mr. Moulton, and Mr. Dunn of Florida), H251 [25JA] Cosponsors added, H538 [7FE], H1236 [19MR], H2143 [5AP], H2623 [20AP], H2831 [1MY] H.R. 7086 — A bill to provide that certain standards relating to traffic safety campaign messages shall have no force or effect; to the Committee on Transportation and Infrastructure. By Mr. GRIFFITH (for himself and Mr. Stanton), H252 [25JA] H.R. 7087 — A bill to direct the Secretary of Defense to establish a pilot program for evidence-based perinatal mental health prevention for pregnant and postpartum members of the Armed Forces and beneficiaries, and for other purposes; to the Committee on Armed Services. By Ms. HOULAHAN (for herself and Mr. Bacon), H252 [25JA] Cosponsors added, H433 [5FE], H3727 [11JN] H.R. 7088 — A bill to require the Secretary of the Air Force to establish a permanent program to provide tuition assistance to members of the Air National Guard; to the Committee on Armed Services. By Mr. JACKSON of North Carolina (for himself and Mr. Kelly of Mississippi), H252 [25JA] H.R. 7089 — A bill to authorize the Diplomatic Security Services of the Department of State to investigate allegations of violations of conduct constituting offenses under chapter 77 of title 18, United States Code, and for other purposes; to the Committee on Foreign Affairs. By Mr. JAMES, H252 [25JA] Cosponsors added, H433 [5FE], H544 [9FE], H583 [13FE] H.R. 7090 — A bill to amend the Internal Revenue Code of 1986 to exclude from gross income certain compensation to clinical trial participants; to the Committee on Ways and Means. By Mr. KELLY of Pennsylvania (for himself and Ms. Houlahan), H252 [25JA] Cosponsors added, H366 [31JA] H.R. 7091 — A bill to amend title 38, United States Code, to require medical facilities of the Department of Veterans Affairs to share certain data with State cancer registries, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. KIGGANS of Virginia (for herself and Mrs. Cherfilus-McCormick), H252 [25JA] H.R. 7092 — A bill to except quotations of fixed-income securities from certain regulatory requirements, and for other purposes; to the Committee on Financial Services. By Mr. MOONEY (for himself, Mr. Hill, Mr. Fitzgerald, Mr. Meuser, Mr. Loudermilk, Mr. Williams of Texas, and Mr. Sessions), H252 [25JA] Cosponsors added, H274 [29JA] H.R. 7093 — A bill to provide for Congressional approval of public health emergency declarations, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOORE of Alabama (for himself and Mr. Brecheen), H252 [25JA] H.R. 7094 — A bill to provide that an individual who uses marijuana in compliance with State law may not be denied occupancy of federally assisted housing, and for other purposes; to the Committee on Financial Services. By Ms. NORTON, H252 [25JA] Cosponsors added, H274 [29JA], H583 [13FE], H681 [15FE] H.R. 7095 — A bill to require States to carry out congressional redistricting in accordance with a process under which members of the public are informed of redistricting proposals and have the opportunity to participate in the development of such proposals prior to their adoption, and for other purposes; to the Committee on the Judiciary. By Ms. ROSS (for herself, Mr. Nickel, Ms. Manning, Mr. Jackson of North Carolina, Mrs. Foushee, Ms. Adams, and Mr. Davis of North Carolina), H252 [25JA] H.R. 7096 — A bill to amend the Consumer Product Safety Act to strike provisions relating to the maximum civil penalties for violations of product safety standards; to the Committee on Energy and Commerce. By Ms. SCHAKOWSKY (for herself and Mrs. Watson Coleman), H252 [25JA] Cosponsors added, H1150 [12MR] H.R. 7097 — A bill to authorize the Secretary of Defense to conduct outreach and provide assistance to institutions of higher education to support training and internships for members of the Armed Forces and veterans, and for other purposes; to the Committee on Armed Services. By Ms. SHERRILL (for herself, Mrs. Kiggans of Virginia, Mr. Allred, Mr. Crow, Mr. Davis of North Carolina, Mr. Gottheimer, Mr. Kim of New Jersey, Ms. Norton, Ms. Titus, and Ms. Tokuda), H252 [25JA] Cosponsors added, H318 [30JA] H.R. 7098 — A bill to direct the Secretary of Defense to conduct a study to identify the private entities participating in Skillbridge that offer positions in registered apprenticeship programs to members of the Armed Forces; to the Committee on Armed Services. By Ms. SHERRILL (for herself, Mrs. Kiggans of Virginia, Mr. Allred, Mr. Crow, Mr. Davis of North Carolina, Mr. Gottheimer, Mr. Kim of New Jersey, Ms. Norton, Ms. Titus, and Ms. Tokuda), H252 [25JA] Cosponsors added, H318 [30JA], H538 [7FE] H.R. 7099 — A bill to preserve the companionship services exemption for minimum wage and overtime pay, and the live-in domestic services exemption for overtime pay, under the Fair Labor Standards Act of 1938; to the Committee on Education and the Workforce. By Mr. WALBERG (for himself, Mr. Smith of Nebraska, and Mr. Bucshon), H252 [25JA] Cosponsors added, H3400 [21MY] H.R. 7100 — A bill to amend title 38, United States Code, to clarify the organization of the Office of Survivors Assistance of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. CISCOMANI (for himself and Mr. Bost), H270 [29JA] H.R. 7101 — A bill to establish requirements for the Federal Trade Commission with respect to certain rules related to automotive retailing, and for other purposes; to the Committee on Energy and Commerce. By Mr. ARMSTRONG (for himself, Mr. Gooden of Texas, Mr. Grothman, Mr. Flood, Mr. Mann, and Mr. Williams of Texas), H270 [29JA] Cosponsors added, H318 [30JA], H697 [26FE], H1001 [6MR], H1034 [7MR], H1236 [19MR], H2876 [6MY], H3000 [8MY] H.R. 7102 — A bill to establish an Office of Native American Affairs within the Small Business Administration, and for other purposes; to the Committee on Small Business. By Ms. DAVIDS of Kansas (for herself and Mr. Crane), H270 [29JA] Cosponsors added, H366 [31JA] Reported (H. Rept. 118–394), H691 [23FE] Text, H728 [28FE] Rules suspended. Passed House, H764 [29FE] Message from the House, S2210 [5MR] Placed on the calendar, S2210 [5MR] H.R. 7103 — A bill to amend the Small Business Act to require Federal agencies to testify and report on scores received under the scorecard program for evaluating Federal agency compliance with small business contracting goals, to testify for failure to meet Governmentwide contracting goals, and for other purposes; to the Committee on Small Business. By Mr. STAUBER (for himself, Mr. McGarvey, and Mr. LaLota), H270 [29JA] Reported (H. Rept. 118–396), H691 [23FE] Rules suspended. Passed House, H2642 [29AP] Text, H2642 [29AP] Message from the House, S3078 [30AP] Referred to the Committee on Small Business and Entrepreneurship, S3078 [30AP] H.R. 7104 — A bill to require the National Small Business Development Center Advisory Board to submit an annual report on the activities of the Board and other information, and for other purposes; to the Committee on Small Business. By Mr. MANN (for himself and Mr. Golden of Maine), H271 [29JA] Reported (H. Rept. 118–398), H691 [23FE] H.R. 7105 — A bill to establish requirements relating to certification of small business concerns owned and controlled by women for certain purposes, and for other purposes; to the Committee on Small Business. By Ms. VELÁZQUEZ (for herself and Mr. LaLota), H271 [29JA] Reported (H. Rept. 118–393), H685 [20FE] Rules suspended. Passed House amended, H722 [28FE] Text, H722 [28FE] Message from the House, S1075 [29FE] Referred to the Committee on Small Business and Entrepreneurship, S1076 [29FE] H.R. 7106 — A bill to amend the National Oceans and Coastal Security Act to make improvements to that Act, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BEYER (for himself and Mrs. González-Colón), H271 [29JA] H.R. 7107 — A bill to amend the Homeland Security Act of 2002 to expand to State, local, Tribal, territorial, and educational institution law enforcement the availability of the Federal Law Enforcement Training Centers’ human trafficking awareness training to equip frontline first responders with the knowledge to recognize and properly respond to potential human trafficking situations, and for other purposes; to the Committee on the Judiciary. By Mrs. CAMMACK (for herself, Mr. Waltz, Mr. Bacon, Mr. LaMalfa, Mr. Amodei, Mr. Donalds, Ms. Salazar, Mrs. González-Colón, and Mr. Carey), H271 [29JA] Cosponsors added, H318 [30JA], H1094 [11MR] H.R. 7108 — A bill to support States and high-need local educational agencies in increasing the number of mental health services providers in schools; to the Committee on Education and the Workforce. By Ms. DeLAURO (for herself, Mr. Fitzpatrick, and Mrs. Hayes), H271 [29JA] Cosponsors added, H366 [31JA], H504 [6FE], H684 [16FE], H697 [26FE], H739 [28FE], H782 [1MR], H1150 [12MR], H1236 [19MR], H1298 [20MR], H1355 [21MR], H2254 [9AP], H2319 [11AP], H2559 [19AP], H2702 [29AP], H2876 [6MY], H3682 [7JN] H.R. 7109 — A bill to require a citizenship question on the decennial census, to require reporting on certain census statistics, and to modify apportionment of Representatives to be based on United States citizens instead of all persons; to the Committee on Oversight and Accountability. By Mr. EDWARDS (for himself and Mr. Davidson), H271 [29JA] Cosponsors added, H433 [5FE], H504 [6FE], H538 [7FE], H583 [13FE], H639 [14FE], H681 [15FE], H688 [20FE], H739 [28FE], H774 [29FE], H782 [1MR], H824 [5MR], H1034 [7MR], H1150 [12MR], H1182 [13MR], H2254 [9AP], H2291 [10AP], H2319 [11AP], H2445 [16AP], H2559 [19AP], H2629 [23AP], H2702 [29AP] Reported with amendments (H. Rept. 118–476), H2699 [29AP] Providing for consideration (H. Res. 1194), H2873 [6MY] Debated, H2970 [8MY] Text, H2970 [8MY] Motion to recommit rejected, H2983 [8MY] Passed House amended, H2986 [8MY] Title amended, H2986 [8MY] Message from the House, S3650 [9MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3650 [9MY] Read the first time, S3667 [9MY] Read the second time. Placed on the calendar, S3672 [14MY] Objection is heard to request for consideration, S3746 [16MY] H.R. 7110 — A bill to amend the Internal Revenue Code of 1986 to require building inspections for certain qualified low-income buildings; to the Committee on Ways and Means. By Mr. ESPAILLAT (for himself and Mr. Torres of New York), H271 [29JA] H.R. 7111 — A bill to establish the policy of the United States that the United Nations Relief and Works Agency for Palestine Refugees in the Near East should be disbanded completely, and for other purposes; to the Committee on Foreign Affairs. By Mr. MAST, H271 [29JA] H.R. 7112 — A bill to direct the Federal Communications Commission to develop a framework and tracking system to monitor the top 100 illegal robocall campaigns and to publish a monthly report on such campaigns, and for other purposes; to the Committee on Energy and Commerce. By Ms. MATSUI, H271 [29JA] H.R. 7113 — A bill making emergency supplemental appropriations in line with the President’s request in response to the ongoing attack on Ukraine’s sovereignty by Russia and in response to the attacks in Israel for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOSKOWITZ, H271 [29JA] H.R. 7114 — A bill to establish a grant program to assist States to establish or expand universal prekindergarten in public schools and public charter schools; to the Committee on Education and the Workforce. By Ms. NORTON, H271 [29JA] Cosponsors added, H583 [13FE], H3543 [31MY] H.R. 7115 — A bill to permit individuals 70 years of age or older to opt out of jury service in the Superior Court of the District of Columbia; to the Committee on Oversight and Accountability. By Ms. NORTON, H271 [29JA] H.R. 7116 — A bill to strengthen certain provisions relating to restrictions on robocalls and telemarketing, and for other purposes; to the Committee on Energy and Commerce. By Mr. PALLONE (for himself, Ms. Matsui, Ms. Schakowsky, Mr. Sorensen, and Mr. Soto), H271 [29JA] Cosponsors added, H2291 [10AP], H3486 [22MY] H.R. 7117 — A bill to limit Federal law enforcement use of data from motor vehicle event data recorders, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ROSENDALE (for himself, Mr. Ogles, Mr. Weber of Texas, and Mr. Burlison), H271 [29JA] Cosponsors added, H318 [30JA], H390 [1FE], H433 [5FE] H.R. 7118 — A bill to prohibit the Federal Government from taking any action to regain control of, access, or otherwise interfere in activities carried out by the State of Texas in the vicinity of Shelby Park in Eagle Pass, Texas, without the consent of the State of Texas; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ROSENDALE (for himself, Mr. Babin, and Mr. Ogles), H271 [29JA] Cosponsors added, H318 [30JA], H433 [5FE] H.R. 7119 — A bill to amend titles XVIII and XIX of the Social Security Act to prohibit skilled nursing facilities and nursing facilities from using pre-dispute arbitration agreements with respect to residents of those facilities under the Medicare and Medicaid programs, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SÁNCHEZ (for herself, Ms. Schakowsky, Ms. Bonamici, Ms. Chu, Ms. DeGette, Mr. Doggett, Mr. Frost, Mr. Nadler, Ms. Norton, Mr. Pascrell, and Mr. Tonko), H271 [29JA] Cosponsors added, H1236 [19MR] H.R. 7120 — A bill to direct the Federal Trade Commission to revise the Telemarketing Sales Rule to require disclosures for telemarketing using artificial intelligence and to provide for enhanced penalties for violations involving artificial intelligence voice or text message impersonation, and for other purposes; to the Committee on Energy and Commerce. By Ms. SCHAKOWSKY, H271 [29JA] H.R. 7121 — A bill to place post-employment restrictions on certain former employees of insured depository institutions, insured credit unions, and certain agencies, and for other purposes; to the Committee on Financial Services. By Mr. SCHIFF (for himself and Mr. Frost), H271 [29JA] H.R. 7122 — A bill to prohibit aid that will benefit Hamas, and for other purposes; to the Committee on Foreign Affairs. By Mr. SMITH of New Jersey (for himself, Mr. Mast, and Mr. Wilson of South Carolina), H271 [29JA] Cosponsors added, H318 [30JA], H583 [13FE], H681 [15FE] Reported with amendment (H. Rept. 118–406), H820 [5MR] H.R. 7123 — A bill to amend the Communications Act of 1934 to require disclosures with respect to robocalls using artificial intelligence and to provide for enhanced penalties for certain violations involving artificial intelligence voice or text message impersonation, and for other purposes; to the Committee on Energy and Commerce. By Mr. SORENSEN (for himself and Mr. Ciscomani), H271 [29JA] Cosponsors added, H366 [31JA], H390 [1FE], H583 [13FE], H1190 [15MR], H2254 [9AP] H.R. 7124 — A bill to amend the Communications Act of 1934 to direct the Federal Communications Commission to promulgate regulations that require providers of voice service to offer a robocall-blocking service at no additional charge to the customer, and for other purposes; to the Committee on Energy and Commerce. By Mr. SOTO, H271 [29JA] H.R. 7125 — A bill to require the Secretary of the Treasury to instruct the United States Executive Directors at the international financial institutions to advocate opposition to projects that make use of forced labor; to the Committee on Financial Services. By Ms. WEXTON (for herself, Mr. Gallagher, Mr. Krishnamoorthi, Mr. Rose, Mr. Sherman, Mrs. Kim of California, Mr. Meeks, and Mr. Nunn of Iowa), H271 [29JA] Cosponsors added, H433 [5FE], H824 [5MR], H2254 [9AP] H.R. 7126 — A bill to prohibit a State from issuing a motor vehicle operator’s license for the operation or use of an ADS-equipped vehicle operating at Level 4 or Level 5 in a manner that discriminates on the basis of disability; to the Committee on Transportation and Infrastructure. By Mr. STANTON (for himself and Mr. Mast), H314 [30JA] Cosponsors added, H697 [26FE], H2522 [18AP], H2636 [26AP] H.R. 7127 — A bill to increase the rates of pay under the statutory pay systems and for prevailing rate employees by 7.4 percent, and for other purposes; to the Committee on Oversight and Accountability. By Mr. CONNOLLY (for himself, Mr. Kilmer, Ms. Stansbury, Ms. Schakowsky, Mr. Doggett, Mr. Lynch, Ms. Moore of Wisconsin, Ms. Norton, Mr. Sarbanes, Mr. Mfume, Mr. Cartwright, Ms. Lee of California, Ms. Titus, Ms. Hoyle of Oregon, Mr. Ivey, Mr. Nickel, Mr. Tonko, Ms. Velázquez, Mr. Beyer, Mr. Evans, Ms. Ross, Mr. Davis of Illinois, Mr. Robert Garcia of California, Ms. Tlaib, Mr. Ruppersberger, Mr. Raskin, Ms. Brown, Mr. Allred, Ms. Barragán, Ms. Bonamici, Mr. Norcross, Mr. Foster, Mr. Scott of Virginia, Ms. Scholten, Mr. McGovern, Ms. Blunt Rochester, Mr. Neguse, Mr. Trone, Mr. Goldman of New York, Mrs. Beatty, Ms. Pingree, Mr. Blumenauer, Ms. Jayapal, Ms. McClellan, Ms. Matsui, Mr. Garamendi, Mr. Cleaver, Mr. Pocan, Ms. DeGette, Mr. Nadler, Ms. Porter, Ms. Wexton, Mr. Keating, Mr. Magaziner, Ms. Meng, Mr. Frost, Ms. Omar, Mr. Castro of Texas, Ms. Kuster, and Ms. Waters), H314 [30JA] Cosponsors added, H433 [5FE], H504 [6FE], H583 [13FE], H639 [14FE], H681 [15FE], H688 [20FE], H739 [28FE], H1034 [7MR], H1150 [12MR], H1355 [21MR], H2130 [29MR], H2445 [16AP], H2702 [29AP], H3682 [7JN] H.R. 7128 — A bill to establish requirements relating to size standard compliance of small business concerns owned and controlled by women for certain purposes, and for other purposes; to the Committee on Small Business. By Ms. MALOY (for herself and Ms. Scholten), H314 [30JA] Reported (H. Rept. 118–383), H579 [13FE] Text, H727 [28FE] Rules suspended. Passed House, H766 [29FE] Message from the House, S2210 [5MR] Referred to the Committee on Small Business and Entrepreneurship, S2210 [5MR] H.R. 7129 — A bill to amend the Small Business Act to establish the Office of Whistleblower Awards, and for other purposes; to the Committee on Small Business. By Mr. WILLIAMS of Texas (for himself, Mr. Mfume, Mr. Luetkemeyer, Mr. Stauber, Mr. Meuser, Ms. Van Duyne, Ms. Salazar, Mr. Mann, Mr. Ellzey, Mr. Alford, Mr. Crane, Mr. Bean of Florida, Mr. Hunt, Mr. LaLota, Mr. Molinaro, and Ms. Maloy), H314 [30JA] Cosponsors added, H366 [31JA] Reported (H. Rept. 118–399), H691 [23FE] H.R. 7130 — A bill to amend the Federal Meat Inspection Act and the Poultry Products Inspection Act to ensure that consumers can make informed decisions in choosing between meat and poultry products and imitation meat and imitation poultry products, and for other purposes; to the Committee on Agriculture. By Mr. ALFORD (for himself, Mr. Williams of Texas, Mr. Davis of North Carolina, and Mr. Jackson of Illinois), H314 [30JA] Cosponsors added, H504 [6FE], H583 [13FE], H639 [14FE], H824 [5MR], H1236 [19MR], H3583 [3JN] H.R. 7131 — A bill to amend the Agricultural Foreign Investment Disclosure Act of 1978 to establish an additional reporting requirement, and for other purposes; to the Committee on Agriculture. By Mr. BACON (for himself, Mr. Alford, Mrs. Hinson, Mr. Bost, Mr. Newhouse, Mr. Carbajal, Mr. Cuellar, Mr. Panetta, Mr. Finstad, and Ms. Houlahan), H314 [30JA] Cosponsors added, H544 [9FE], H694 [23FE], H739 [28FE], H774 [29FE], H1236 [19MR], H2938 [7MY], H3275 [15MY], H3330 [16MY], H3358 [17MY], H3976 [12JN] H.R. 7132 — A bill to authorize a grant program for the development and implementation of housing supply and affordability plans, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BLUNT ROCHESTER (for herself, Mr. Fitzpatrick, and Mrs. Beatty), H315 [30JA] H.R. 7133 — A bill to authorize use of amounts from emergency solutions grants under the McKinney-Vento Homeless Assistance Act to provide safe overnight parking facilities for homeless persons, and for other purposes; to the Committee on Financial Services. By Mr. CARBAJAL (for himself, Mr. LaMalfa, Mr. Vargas, and Mr. Valadao), H315 [30JA] Cosponsors added, H1001 [6MR], H2143 [5AP], H2629 [23AP], H3205 [14MY], H3330 [16MY], H3526 [23MY], H3531 [24MY], H3543 [31MY], H3682 [7JN] H.R. 7134 — A bill to establish the Office to Enforce and Protect Against Child Sexual Exploitation; to the Committee on the Judiciary, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. ESHOO (for herself, Mr. Fitzpatrick, Mr. Bacon, and Ms. Jackson Lee), H315 [30JA] Cosponsors added, H2254 [9AP], H3205 [14MY], H3727 [11JN] H.R. 7135 — A bill to amend the Employee Retirement Income Security Act of 1974 to clarify the obligation of the Pension Benefit Guarantee Corporation to reclaim any overpayment of special financial assistance payment under the American Rescue Plan Act of 2021, including amounts paid on behalf of a deceased participant or beneficiary, and for other purposes; to the Committee on Education and the Workforce. By Ms. FOXX, H315 [30JA] H.R. 7136 — A bill to require the Secretary of Veterans Affairs to establish a comprehensive standard for timing between referrals and appointments for care from the Department of Veterans Affairs and to submit a report with respect to that standard, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. SCOTT FRANKLIN of Florida (for himself, Mrs. Cherfilus-McCormick, and Mr. Van Orden), H315 [30JA] Cosponsors added, H433 [5FE] H.R. 7137 — A bill to provide for the vacating of certain convictions and expungement of certain arrests of victims of human trafficking; to the Committee on the Judiciary. By Mr. FRY (for himself, Mr. Lieu, Mrs. Wagner, Mr. Robert Garcia of California, Mr. Donalds, Mr. Langworthy, Mr. Moore of Alabama, Mr. Timmons, Ms. Mace, Mr. Wilson of South Carolina, Mr. LaTurner, Mrs. Houchin, Mr. Kean of New Jersey, Mrs. Miller of Illinois, Mr. Rouzer, and Ms. Jackson Lee), H315 [30JA] Cosponsors added, H366 [31JA], H433 [5FE], H739 [28FE], H824 [5MR], H1236 [19MR], H2254 [9AP], H3531 [24MY] H.R. 7138 — A bill to amend title XVI of the Social Security Act to update eligibility for the supplemental security income program, and for other purposes; to the Committee on Ways and Means. By Mr. GRIJALVA (for himself, Ms. Schakowsky, Ms. Slotkin, Ms. Bush, Ms. Norton, Ms. Moore of Wisconsin, Mr. Sablan, Mr. Mullin, Ms. Blunt Rochester, Mrs. Peltola, Ms. Tlaib, Ms. Salinas, Ms. Dean of Pennsylvania, Ms. Pingree, Ms. Scanlon, Mr. Bowman, Mrs. Napolitano, Ms. Kaptur, Mr. Cohen, Mr. Gallego, Mr. Tonko, Mr. Takano, Mr. Lieu, Mr. Neguse, Mr. Frost, Mr. Jackson of Illinois, Ms. Jackson Lee, Mrs. McBath, Mr. Kilmer, Ms. Garcia of Texas, Ms. Balint, Ms. Jayapal, Mr. Raskin, Mr. Johnson of Georgia, Ms. Titus, Mr. Khanna, and Mr. Larson of Connecticut), H315 [30JA] Cosponsors added, H639 [14FE], H1034 [7MR], H1236 [19MR] H.R. 7139 — A bill to amend the Higher Education Act of 1965 to change certain eligibility provisions for loan forgiveness for teachers, and for other purposes; to the Committee on Education and the Workforce. By Mrs. HAYES, H315 [30JA] H.R. 7140 — A bill to amend the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to require group health plans and health insurance issuers offering group or individual health insurance coverage to disclose the percentage of in-network participation for certain provider types, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HORSFORD, H315 [30JA] H.R. 7141 — A bill to amend titles XIX and XXI of the Social Security Act and title XXVII of the Public Health Service Act to require no-cost coverage of human milk fortifier; to the Committee on Energy and Commerce. By Mr. McGARVEY (for himself, Ms. DeLauro, and Mr. Krishnamoorthi), H315 [30JA] Cosponsors added, H366 [31JA], H2143 [5AP] H.R. 7142 — A bill to amend title XVIII of the Social Security Act to ensure appropriate access to non-opioid pain management drugs under part D of the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. MILLER-MEEKS (for herself and Mr. Cárdenas), H315 [30JA] Cosponsors added, H583 [13FE], H681 [15FE], H1236 [19MR], H2254 [9AP], H2368 [12AP], H2399 [15AP], H2629 [23AP], H3007 [10MY], H3358 [17MY], H3486 [22MY], H3526 [23MY], H3535 [28MY], H3583 [3JN], H3727 [11JN], H3976 [12JN], H4115 [18JN] H.R. 7143 — A bill to require the heads of certain agencies to withdraw a proposed rule relating to capital requirements applicable to large banking organizations and banking organizations with significant trading activity, and for other purposes; to the Committee on Financial Services. By Mr. OGLES (for himself and Mr. Donalds), H315 [30JA] Cosponsors added, H739 [28FE] H.R. 7144 — A bill to amend the Higher Education Act of 1965 to modify the application and review process for changes of control, and for other purposes; to the Committee on Education and the Workforce. By Mr. OWENS, H315 [30JA] H.R. 7145 — A bill to amend the Marine Mammal Protection Act of 1972 and the Animal Welfare Act to prohibit the taking, importation, exportation, and breeding of certain cetaceans for public display, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCHIFF (for himself, Mr. Huffman, Ms. DelBene, Mr. Larsen of Washington, Mr. Cohen, Mr. Cárdenas, Mr. Blumenauer, Mr. Connolly, Ms. Barragán, Mr. Lieu, Mr. Nadler, Mr. Moulton, Ms. Dean of Pennsylvania, Ms. Lofgren, Ms. Lee of California, Mr. Pocan, Ms. DeGette, Ms. Norton, Ms. Chu, Ms. Bonamici, Mr. Carson, Mr. McGovern, Mr. Carbajal, Ms. McCollum, and Ms. Matsui), H315 [30JA] Cosponsors added, H504 [6FE], H544 [9FE], H681 [15FE], H688 [20FE], H824 [5MR], H1094 [11MR], H1236 [19MR], H1500 [22MR], H3275 [15MY], H3657 [4JN] H.R. 7146 — A bill to direct the Secretary of Agriculture to provide grants to covered entities to develop, modify, or implement climate adaptation and climate mitigation proposals on agricultural land, and for other purposes; to the Committee on Agriculture. By Ms. SCHRIER (for herself, Ms. Perez, Ms. Strickland, and Mr. Nickel), H315 [30JA] H.R. 7147 — A bill to amend title XI of the Social Security Act to establish a pilot program for testing the use of a predictive risk-scoring algorithm to provide oversight of payments for durable medical equipment and clinical diagnostic laboratory tests under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCHWEIKERT, H315 [30JA] H.R. 7148 — A bill to amend title XVIII of the Social Security Act to provide for eligibility for coverage of home health services under the Medicare Program on the basis of a need for occupational therapy; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMUCKER (for himself, Mr. Doggett, Mr. Tonko, and Mr. Joyce of Pennsylvania), H315 [30JA] Cosponsors added, H504 [6FE], H1034 [7MR], H1094 [11MR], H2771 [30AP], H3535 [28MY] H.R. 7149 — A bill to amend title XI of the Social Security Act to require the Center for Medicare and Medicaid Innovation to test a model to improve access to specialty health services for certain Medicare and Medicaid beneficiaries; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. STEEL (for herself, Ms. Lee of Nevada, Mr. Kelly of Pennsylvania, Mr. LaHood, Mr. Davis of North Carolina, Ms. Caraveo, Mrs. Chavez-DeRemer, Mr. Bacon, Ms. De La Cruz, Ms. Salinas, and Mr. Valadao), H315 [30JA] Cosponsors added, H538 [7FE], H681 [15FE], H1034 [7MR], H1236 [19MR] H.R. 7150 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to improve equitable access to certain benefits under the laws administered by the Secretary of Veterans Affairs and to improve certain outreach to individuals who served uniformed services and dependents of such individuals, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. TAKANO, H315 [30JA] H.R. 7151 — A bill to amend the Export Control Reform Act of 2018 to provide for expedited consideration of proposals for additions to, removals from, or other modifications with respect to entities on the Entity List, and for other purposes; to the Committee on Foreign Affairs. By Mrs. WAGNER (for herself and Mr. McCaul), H315 [30JA] Cosponsors added, H433 [5FE] H.R. 7152 — A bill to direct the Secretary of State to establish a national registry of Korean American divided families, and for other purposes; to the Committee on Foreign Affairs. By Ms. WEXTON (for herself and Mrs. Steel), H315 [30JA] Cosponsors added, H366 [31JA], H433 [5FE], H504 [6FE], H544 [9FE], H1236 [19MR], H2254 [9AP], H3583 [3JN] H.R. 7153 — A bill to reauthorize the Dr. Lorna Breen Health Care Provider Protection Act, and for other purposes; to the Committee on Energy and Commerce. By Ms. WILD (for herself, Mrs. Kiggans of Virginia, Mr. Carter of Georgia, and Mrs. Dingell), H316 [30JA] Cosponsors added, H694 [23FE], H1094 [11MR], H2368 [12AP] Reported (H. Rept. 118–514), H3396 [21MY] H.R. 7154 — A bill to rename the community-based outpatient clinic of the Department of Veterans Affairs in Butte, Montana, as the ‘‘Charlie Dowd VA Clinic’’; to the Committee on Veterans’ Affairs. By Mr. ZINKE, H316 [30JA] H.R. 7155 — A bill to provide for the establishment, within the Food and Drug Administration, of an Abraham Accords Bureau to promote and facilitate cooperation between the Food and Drug Administration and entities in Abraham Accords countries wishing to work with the agency in order to develop and sell products in the United States, and for other purposes; to the Committee on Energy and Commerce. By Mrs. HARSHBARGER (for herself, Mr. Vargas, Mr. Weber of Texas, Mr. Peters, Mr. Harris, Mr. Levin, and Mr. Allen), H363 [31JA] Cosponsors added, H504 [6FE], H688 [20FE], H2121 [26MR] H.R. 7156 — A bill to expand the investigative authorities of the United States Secret Service, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZGERALD (for himself, Mr. Meeks, Mr. Nunn of Iowa, and Ms. Dean of Pennsylvania), H363 [31JA] Cosponsors added, H390 [1FE], H538 [7FE], H739 [28FE], H782 [1MR], H824 [5MR] H.R. 7157 — A bill to amend the Lacey Act Amendments of 1981 to ensure fair enforcement of such Act; to the Committee on Natural Resources. By Mr. DUARTE (for himself and Mr. Costa), H363 [31JA] H.R. 7158 — A bill to designate the facility of the United States Postal Service located at 201 East Battles Road in Santa Maria, California, as the ‘‘Larry Lavagnino Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. CARBAJAL, H363 [31JA] Cosponsors added, H639 [14FE], H782 [1MR], H1034 [7MR], H1298 [20MR], H2143 [5AP], H2254 [9AP], H2445 [16AP], H2503 [17AP], H2623 [20AP], H2629 [23AP], H2876 [6MY], H2938 [7MY], H3000 [8MY], H3007 [10MY] H.R. 7159 — A bill to bolster United States engagement with the Pacific Islands region, and for other purposes; to the Committee on Foreign Affairs. By Mr. CASE (for himself, Mr. Barr, Mrs. Radewagen, Mrs. Wagner, Mr. Moylan, Mr. Sablan, Mr. Womack, Mr. Krishnamoorthi, Ms. Porter, Ms. Tokuda, Ms. Strickland, Mr. Norcross, Mr. Bera, Mr. Dunn of Florida, and Mr. Meeks), H363 [31JA] Cosponsors added, H390 [1FE], H433 [5FE], H504 [6FE], H639 [14FE] H.R. 7160 — A bill to amend the Internal Revenue Code of 1986 to modify the limitation on the amount certain married individuals can deduct for State and local taxes; to the Committee on Ways and Means. By Mr. LAWLER (for himself, Mr. LaLota, Mr. Garbarino, Mr. D’Esposito, Mr. Molinaro, Mr. Kean of New Jersey, Mr. Harris, Mr. Mike Garcia of California, and Mrs. Kim of California), H363 [31JA] Providing for consideration (H. Res. 994), H430 [5FE] H.R. 7161 — A bill to require States to report information on Medicaid payments to abortion providers; to the Committee on Energy and Commerce. By Mr. BANKS (for himself, Mr. Aderholt, Mr. Mooney, Mr. Womack, Mr. Burchett, Mrs. Miller of Illinois, Mr. Moore of Alabama, and Mr. Carl), H363 [31JA] Cosponsors added, H433 [5FE], H583 [13FE] H.R. 7162 — A bill to create children’s lifetime savings accounts, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BEYER (for himself, Ms. DelBene, Mrs. Beatty, Ms. Norton, Ms. Sánchez, Mr. Thanedar, Ms. Kamlager-Dove, Mr. Davis of Illinois, and Mr. Blumenauer), H363 [31JA] Cosponsors added, H433 [5FE], H538 [7FE], H3526 [23MY], H3657 [4JN] H.R. 7163 — A bill to amend the National Agricultural Research, Extension, and Teaching Policy Act of 1977 to establish the Climate Scientific Research Advisory Committee and the Rural Climate Alliance Network, and for other purposes; to the Committee on Agriculture. By Ms. BROWNLEY (for herself and Ms. Crockett), H363 [31JA] Cosponsors added, H433 [5FE] H.R. 7164 — A bill to advance population research for chronic pain; to the Committee on Energy and Commerce. By Ms. CARAVEO (for herself and Mr. Nunn of Iowa), H363 [31JA] H.R. 7165 — A bill to amend the Internal Revenue Code of 1986 to provide a tax credit for working family caregivers; to the Committee on Ways and Means. By Mr. CAREY (for himself and Ms. Sánchez), H363 [31JA] Cosponsors added, H583 [13FE], H681 [15FE], H697 [26FE], H782 [1MR], H824 [5MR], H1001 [6MR], H1094 [11MR], H1190 [15MR], H1236 [19MR], H1500 [22MR], H2254 [9AP], H2399 [15AP], H2445 [16AP], H2629 [23AP], H3535 [28MY], H3657 [4JN], H3682 [7JN] H.R. 7166 — A bill to establish the Great Lakes Mass Marking Program, and for other purposes; to the Committee on Natural Resources. By Mrs. DINGELL (for herself and Mr. Huizenga), H363 [31JA] Cosponsors added, H694 [23FE] H.R. 7167 — A bill to increase the role of the financial industry in combating human trafficking; to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZPATRICK (for himself and Mr. Keating), H363 [31JA] Cosponsors added, H390 [1FE], H2136 [2AP] H.R. 7168 — A bill to amend the Securities Exchange Act of 1934 to prohibit mandatory pre-dispute arbitration agreements, and for other purposes; to the Committee on Financial Services. By Mr. FOSTER (for himself, Ms. Schakowsky, Mr. Casten, Mr. Meeks, Ms. Velázquez, and Ms. Dean of Pennsylvania), H364 [31JA] Cosponsors added, H433 [5FE] H.R. 7169 — A bill to amend the Internal Revenue Code of 1986 to provide for the public reporting of certain contributions received by charitable organizations from foreign governments and foreign political parties; to the Committee on Ways and Means. By Mr. GOODEN of Texas, H364 [31JA] Cosponsors added, H433 [5FE], H824 [5MR] H.R. 7170 — A bill to amend section 3663A of title 18, United States Code, to clarify that restitution includes necessary and reasonable expenses incurred by a person who has assumed the victim’s rights; to the Committee on the Judiciary. By Ms. HAGEMAN (for herself, Mrs. McBath, Mr. Moran, and Mr. Johnson of Georgia), H364 [31JA] Cosponsors added, H782 [1MR], H824 [5MR], H1058 [8MR], H1236 [19MR], H2368 [12AP], H2445 [16AP], H3526 [23MY] H.R. 7171 — A bill to amend the Energy Policy and Conservation Act to require a certain efficiency level for certain distribution transformers, and for other purposes; to the Committee on Energy and Commerce. By Mr. KELLY of Pennsylvania (for himself, Mr. Deluzio, Mr. Meuser, Ms. Wild, Mr. Fitzpatrick, Mr. Cuellar, Mr. Reschenthaler, Mr. Smucker, and Mr. Womack), H364 [31JA] Cosponsors added, H390 [1FE], H504 [6FE], H739 [28FE], H774 [29FE], H1001 [6MR], H1094 [11MR], H1298 [20MR], H1500 [22MR] H.R. 7172 — A bill to direct the Nuclear Regulatory Commission to promulgate regulations prohibiting the issuance of certain certificates and licenses without a finding that a certain system or facility can safely operate with spent nuclear fuel for a period of at least 100 years, and for other purposes; to the Committee on Energy and Commerce. By Mr. LEVIN (for himself and Mr. Carbajal), H364 [31JA] H.R. 7173 — A bill to amend the Immigration and Nationality Act to require the President to set a minimum annual goal for the number of refugees to be admitted, and for other purposes; to the Committee on the Judiciary. By Ms. LOFGREN, H364 [31JA] H.R. 7174 — A bill to amend title XI of the Social Security Act to equalize the negotiation period between small-molecule and biologic candidates under the Drug Price Negotiation Program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. McCORMICK (for himself, Mr. Alford, Mr. Allen, Mr. Arrington, Mr. Biggs, Ms. Boebert, Mr. Burlison, Mr. Cline, Mr. Clyde, Mr. Collins, Mr. Duncan, Mr. Scott Franklin of Florida, Mr. Mike Garcia of California, Mr. Tony Gonzales of Texas, Mr. Gooden of Texas, Mr. Grothman, Mr. Harris, Mrs. Harshbarger, Mr. Jackson of Texas, Mr. Kelly of Mississippi, Mr. Lamborn, Mrs. Luna, Mrs. Miller of Illinois, Mrs. Miller of West Virginia, Mr. Mooney, Mr. Moore of Alabama, Mr. Murphy, Mr. Nehls, Mr. Norman, Mr. Ogles, Mr. Posey, Mr. Rouzer, Mr. Austin Scott of Georgia, Mr. Steube, Ms. Tenney, Mr. Tiffany, Mr. Timmons, Mr. Van Drew, Ms. Van Duyne, Mr. Weber of Texas, Mr. Babin, Mrs. Lesko, Mr. Williams of Texas, and Mr. Loudermilk), H364 [31JA] Cosponsors added, H639 [14FE], H2522 [18AP], H3000 [8MY], H3205 [14MY] H.R. 7175 — A bill to protect individuals who face reprisals for defending human rights and democracy by enhancing the capacity of the United States Government to prevent, mitigate, and respond in such cases, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. McGOVERN (for himself, Mr. Raskin, Mrs. Torres of California, Ms. Omar, and Mr. Crow), H364 [31JA] H.R. 7176 — A bill to repeal restrictions on the export and import of natural gas; to the Committee on Energy and Commerce. By Mr. PFLUGER, H364 [31JA] Cosponsors added, H538 [7FE], H544 [9FE], H583 [13FE] Providing for consideration (H. Res. 1009), H580 [13FE] Debated, H649 [15FE] Text, H649 [15FE] Motion to recommit, H659 [15FE] Motion to recommit rejected, H660 [15FE] Passed House, H661 [15FE] H.R. 7177 — A bill to amend title 28, United States Code, to consolidate certain divisions in the Northern District of Alabama; to the Committee on the Judiciary. By Mr. STRONG (for himself, Mr. Aderholt, Mr. Rogers of Alabama, Mr. Moore of Alabama, and Mr. Carl), H364 [31JA] H.R. 7178 — A bill to amend the Public Works and Economic Development Act of 1965 to permit certain grant funds to be used for assisting regional economies with limiting industrial consumptive water use, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TITUS (for herself and Mr. Valadao), H364 [31JA] H.R. 7179 — A bill to amend the National Voter Registration Act of 1993 to treat United States Citizenship and Immigration Services field offices as voter registration agencies, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. TORRES of California (for herself, Mrs. Ramirez, Mr. Correa, Mr. Johnson of Georgia, Mr. García of Illinois, Ms. Norton, and Mr. Frost), H364 [31JA] H.R. 7180 — A bill to designate the facility of the United States Postal Service located at 80 1st Street in Kingsland, Arkansas, as the ‘‘Kingsland ’Johnny Cash’ Post Office’’; to the Committee on Oversight and Accountability. By Mr. WESTERMAN (for himself, Mr. Womack, Mr. Hill, and Mr. Crawford), H364 [31JA] Rules suspended. Passed House, H3559 [3JN] Text, H3559 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 7181 — A bill to require the Secretary of State to submit a report ranking the organizations of the United Nations; to the Committee on Foreign Affairs. By Mr. CURTIS, H386 [1FE] H.R. 7182 — A bill to authorize the National Guard to take such actions as may be necessary to repel persons attempting to enter the United States from Mexico who are carrying weapons, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LUTTRELL (for himself, Mr. Fleischmann, Mr. Edwards, Mr. Babin, Mr. Guest, Mr. Collins, and Mr. Williams of New York), H386 [1FE] H.R. 7183 — A bill to prohibit Federal funds from being used to provide certain gender transition procedures to minors; to the Committee on Energy and Commerce. By Mr. McCORMICK (for himself, Mr. Alford, Mr. Allen, Mr. Arrington, Mr. Biggs, Ms. Boebert, Mr. Burlison, Mr. Cline, Mr. Clyde, Mr. Collins, Mr. Duncan, Mr. Scott Franklin of Florida, Mr. Mike Garcia of California, Mr. Tony Gonzales of Texas, Mr. Gooden of Texas, Mr. Grothman, Mr. Harris, Mrs. Harshbarger, Mr. Jackson of Texas, Mr. Kelly of Mississippi, Mr. Lamborn, Mrs. Luna, Mrs. Miller of Illinois, Mrs. Miller of West Virginia, Mr. Mooney, Mr. Moore of Alabama, Mr. Murphy, Mr. Nehls, Mr. Norman, Mr. Ogles, Mr. Posey, Mr. Rouzer, Mr. Austin Scott of Georgia, Mr. Steube, Ms. Tenney, Mr. Tiffany, Mr. Timmons, Mr. Van Drew, Ms. Van Duyne, Mr. Weber of Texas, Mr. Babin, Mrs. Lesko, Mr. Williams of Texas, Mr. Loudermilk, and Mr. Westerman), H386 [1FE] Cosponsors added, H504 [6FE], H538 [7FE], H583 [13FE], H1034 [7MR], H2291 [10AP] H.R. 7184 — A bill to provide the Congressional Budget Office with necessary authorities to expedite the sharing of data from executive branch agencies, and for other purposes; to the Committee on Oversight and Accountability. By Mr. GROTHMAN (for himself, Mr. Mfume, Mr. Ferguson, and Ms. Porter), H386 [1FE] Cosponsors added, H583 [13FE] H.R. 7185 — A bill to amend the Office of National Drug Control Prevention Act of 1998 to include new requirements for assessments and reports, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DUARTE (for himself, Ms. Slotkin, Mr. Pence, Mr. Cuellar, Mr. Valadao, Mr. Fitzgerald, Mr. Ciscomani, and Mr. Vasquez), H386 [1FE] Cosponsors added, H583 [13FE], H639 [14FE], H681 [15FE], H688 [20FE], H739 [28FE], H774 [29FE], H824 [5MR], H1355 [21MR], H2702 [29AP], H3727 [11JN] H.R. 7186 — A bill to provide for the integration of participant treatment within the Continuum of Care Program with Certified Community Behavioral Health Clinics, and for other purposes; to the Committee on Financial Services. By Mr. CALVERT (for himself, Mr. Issa, Mr. Valadao, Mrs. Chavez-DeRemer, Mr. LaMalfa, and Mr. Williams of New York), H386 [1FE] Cosponsors added, H583 [13FE], H1182 [13MR] H.R. 7187 — A bill to modify eligibility requirements for amateur sports governing organizations; to the Committee on the Judiciary. By Mr. STEUBE (for himself, Ms. Hageman, Mr. Timmons, Mr. Biggs, Mr. Weber of Texas, Ms. Boebert, Mr. Gosar, Mr. Duncan, Mr. LaMalfa, Mrs. Houchin, Mr. Babin, Mr. Dunn of Florida, Mr. Clyde, Mr. Tony Gonzales of Texas, Ms. Tenney, Mr. Kustoff, and Mr. Bost), H386 [1FE] Cosponsors added, H504 [6FE], H538 [7FE], H544 [9FE], H697 [26FE], H1236 [19MR], H1355 [21MR], H2254 [9AP], H2559 [19AP], H3330 [16MY] H.R. 7188 — A bill to require the Secretary of Health and Human Services to conduct a national, evidence-based education campaign to increase public and health care provider awareness regarding the potential risks and benefits of human cell and tissue products transplants, and for other purposes; to the Committee on Energy and Commerce. By Mr. MOOLENAAR (for himself and Mrs. Dingell), H386 [1FE] H.R. 7189 — A bill to amend the Public Health Service Act to reauthorize a national congenital heart disease research, surveillance, and awareness program, and for other purposes; to the Committee on Energy and Commerce. By Mr. BILIRAKIS (for himself, Mr. Soto, Mr. Carter of Georgia, Mr. Schiff, Ms. Salazar, and Mr. Cárdenas), H386 [1FE] Reported with amendment (H. Rept. 118–517), H3482 [22MY] H.R. 7190 — A bill to require the Assistant Secretary for the Countering Weapons of Mass Destruction Office of the Department of Homeland Security to treat illicit fentanyl as a weapon of mass destruction, and for other purposes; to the Committee on Homeland Security. By Ms. BOEBERT (for herself, Mr. Ogles, Mr. Gosar, Mr. Posey, Mr. Nehls, Mr. Gaetz, Mrs. Luna, Mr. Burchett, Ms. Van Duyne, Mr. Moore of Alabama, Mr. Donalds, and Mrs. Miller of Illinois), H386 [1FE] H.R. 7191 — A bill to amend title 23, United States Code, to direct the Secretary of Transportation to require States to set aside certain funds to carry out highway safety improvement projects to reduce the number of injuries and fatalities at high-risk pedestrian crossings; to the Committee on Transportation and Infrastructure. By Mr. CAREY (for himself and Mrs. Sykes), H387 [1FE] Cosponsors added, H3400 [21MY], H3526 [23MY] H.R. 7192 — A bill to designate the facility of the United States Postal Service located at 333 West Broadway in Anaheim, California, as the ‘‘Dr. William I. ‘Bill’ Kott Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. CORREA (for himself, Ms. Pelosi, Mr. Aguilar, Mrs. Napolitano, Mrs. Kim of California, Mr. Levin, Mrs. Steel, Ms. Lofgren, Mr. Schiff, Ms. Porter, Ms. Sánchez, Ms. Barragán, Ms. Brownley, Mr. Ruiz, Mr. Panetta, Mr. Mullin, Mr. Takano, Mrs. Torres of California, Mr. Costa, Mr. Robert Garcia of California, Mr. Gomez, Mr. Sherman, Ms. Chu, Mr. Thompson of California, Ms. Eshoo, Mr. Mike Garcia of California, Mr. Peters, Mr. Huffman, Mr. Issa, Mr. LaMalfa, Mr. Swalwell, Mr. Valadao, Mr. Calvert, Mr. Cárdenas, Ms. Lee of California, Mr. Khanna, Mr. Harder of California, Mr. Bera, Mr. McClintock, Mr. Duarte, Mr. Obernolte, Ms. Matsui, Mr. Garamendi, Mr. DeSaulnier, Mr. Carbajal, Mr. Lieu, Ms. Kamlager-Dove, Ms. Waters, Ms. Jacobs, Mr. Vargas, and Mr. Kiley), H387 [1FE] Rules suspended. Passed House, H3565 [3JN] Text, H3566 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 7193 — A bill to amend the Clean Air Act to provide for exclusion of air quality monitoring data that is directly due to a catastrophic or beneficial use wildfire from use in determinations with respect to exceedances or violations of the national ambient air quality standard for any air pollutant, and for other purposes; to the Committee on Energy and Commerce. By Mr. CURTIS, H387 [1FE] Cosponsors added, H433 [5FE], H681 [15FE] H.R. 7194 — A bill to amend the Toxic Substances Control Act to codify a Federal cause of action and a type of remedy available for individuals significantly exposed to per- and polyfluoroalkyl substances, to encourage research and accountability for irresponsible discharge of those substances, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. DEAN of Pennsylvania (for herself, Mr. Nadler, and Mr. Kildee), H387 [1FE] Cosponsors added, H538 [7FE] H.R. 7195 — A bill to amend title 18, United States Code, to protect and enhance the mailing of firearms, ammunition, and components thereof; to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DUNCAN (for himself, Ms. Tenney, Mr. McClintock, Mr. Grothman, Mr. Rosendale, Mr. Edwards, Mr. Biggs, Mr. Gooden of Texas, Mr. LaMalfa, Mr. Guest, Mrs. Hinson, Mr. Baird, Mrs. Miller of Illinois, Mr. Reschenthaler, Mr. Mann, Mr. Donalds, Mr. Mooney, Mr. Moore of Alabama, Mr. Cline, Mr. Weber of Texas, Mrs. Cammack, Mr. Good of Virginia, Ms. Boebert, Mr. Collins, Mr. Norman, Mr. Timmons, Mr. Langworthy, Mr. Williams of Texas, Mr. Pfluger, Mr. Fry, Mr. Carter of Georgia, Mr. Dunn of Florida, Mr. Crenshaw, Mr. Self, Mr. Bacon, Mr. Ogles, Mr. Clyde, Mr. Rose, Mr. Williams of New York, Mr. Feenstra, Mr. Sessions, Mr. Gosar, and Mr. Hudson), H387 [1FE] Cosponsors added, H504 [6FE], H3657 [4JN] H.R. 7196 — A bill to require the Comptroller General of the United States to conduct a study on the impacts of seasonal and nonresident homeownership on data collected by the Bureau of the Census, and for other purposes; to the Committee on Oversight and Accountability. By Mr. EDWARDS (for himself, Mr. Davis of North Carolina, Mr. Weber of Texas, and Mr. Moore of Alabama), H387 [1FE] H.R. 7197 — A bill to require the Administrator of the Environmental Protection Agency to carry out a study on the environmental impacts of artificial intelligence, to require the Director of the National Institute of Standards and Technology to convene a consortium on such environmental impacts, and to require the Director to develop a voluntary reporting system for the reporting of the environmental impacts of artificial intelligence, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. ESHOO (for herself and Mr. Beyer), H387 [1FE] Cosponsors added, H1001 [6MR], H2136 [2AP] H.R. 7198 — A bill to amend title 5, United States Code, to require greater transparency for Federal regulatory decisions that impact small businesses, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FINSTAD (for himself, Ms. Caraveo, and Mr. Moran), H387 [1FE] Cosponsors added, H639 [14FE], H1236 [19MR], H2702 [29AP], H3275 [15MY], H3400 [21MY] H.R. 7199 — A bill to designate the facility of the United States Postal Service located at S74w16860 Janesville Road, in Muskego, Wisconsin, as the ‘‘Colonel Hans Christian Heg Post Office’’; to the Committee on Oversight and Accountability. By Mr. FITZGERALD (for himself, Mr. Steil, Mr. Tiffany, Mr. Grothman, Mr. Van Orden, Mr. Gallagher, Ms. Moore of Wisconsin, and Mr. Pocan), H387 [1FE] Rules suspended. Passed House, H3560 [3JN] Text, H3560 [3JN] Message from the House, S3950 [4JN] H.R. 7200 — A bill to require the Secretary of Energy to establish a hydrogen infrastructure finance and innovation pilot program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZPATRICK (for himself and Mr. Peters), H387 [1FE] H.R. 7201 — A bill to secure Federal access to scientific literature and other subscription services by requiring Federal agencies and legislative branch research arms to make recommendations on increasing agency library access to serials, and for other purposes; to the Committee on Oversight and Accountability. By Mr. FOSTER (for himself, Mr. Takano, Mr. Quigley, and Ms. Norton), H387 [1FE] H.R. 7202 — A bill to direct the Secretary of State to submit to Congress a report on funding provided by the United States to the United Nations Relief and Works Agency for Palestinian Refugees in the Near East (UNRWA), and for other purposes; to the Committee on Foreign Affairs. By Mr. JACKSON of Texas (for himself, Ms. Stefanik, Mr. Babin, Mr. Bost, Ms. Van Duyne, Mr. Fallon, Mr. Nehls, Mrs. Miller of West Virginia, Mr. Pfluger, Mr. Norman, Ms. Boebert, Mr. Bergman, Mr. Perry, Mr. Self, Mr. Bilirakis, Mr. Van Drew, Mr. Lawler, and Ms. Hageman), H387 [1FE] Cosponsors added, H433 [5FE], H504 [6FE], H538 [7FE], H1236 [19MR], H2254 [9AP], H2629 [23AP] H.R. 7203 — A bill to amend the Federal Water Pollution Control Act relating to grants for beach monitoring, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. JOYCE of Ohio (for himself, Mr. Pallone, Mrs. Sykes, and Mr. Rouzer), H387 [1FE] Cosponsors added, H739 [28FE], H1001 [6MR], H1058 [8MR], H1190 [15MR], H1236 [19MR], H1298 [20MR], H2319 [11AP], H2368 [12AP], H3000 [8MY], H3205 [14MY], H3657 [4JN], H3976 [12JN] H.R. 7204 — A bill to amend the Water Resources Development Act of 2007 with respect to the Susquehanna, Delaware, and Potomac River Basin Commissions, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MOLINARO (for himself, Ms. Houlahan, Mr. Fitzpatrick, Mr. Evans, and Ms. Scanlon), H387 [1FE] Cosponsors added, H433 [5FE], H544 [9FE], H739 [28FE], H1001 [6MR], H1182 [13MR], H1355 [21MR], H2503 [17AP], H3543 [31MY] H.R. 7205 — A bill to authorize additional district judgeships for the districts of Colorado and Idaho; to the Committee on the Judiciary. By Mr. NEGUSE (for himself, Mr. Simpson, and Mr. Fulcher), H387 [1FE] H.R. 7206 — A bill to designate the United Nations Relief and Works Agency as a Foreign Terrorist Organization, and for other purposes; to the Committee on the Judiciary. By Mr. OGLES (for himself and Mrs. Miller of Illinois), H387 [1FE] Cosponsors added, H433 [5FE] H.R. 7207 — A bill to amend title XVIII of the Social Security Act to prohibit the Secretary of Health and Human Services from selecting certain activities relating to the development of anti-racism plans as clinical practice improvement activities under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PALMER (for himself, Mr. Cloud, Mr. Biggs, and Mr. Tiffany), H387 [1FE] H.R. 7208 — A bill to reauthorize the Traumatic Brain Injury program; to the Committee on Energy and Commerce. By Mr. PASCRELL (for himself and Mr. Bacon), H387 [1FE] Cosponsors added, H1034 [7MR], H1190 [15MR], H1298 [20MR], H2143 [5AP], H2319 [11AP] Reported with amendment (H. Rept. 118–518), H3482 [22MY] H.R. 7209 — A bill to provide for the establishment of a Caribbean and Latin America Maritime Security Initiative to combat illegal, unreported, and unregulated fishing in the Caribbean and Latin America, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Armed Services, Transportation and Infrastructure, the Judiciary, Financial Services, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PETERS (for himself and Mr. Gimenez), H387 [1FE] Cosponsors added, H433 [5FE], H639 [14FE], H697 [26FE] H.R. 7210 — A bill to amend the Federal Election Campaign Act of 1971 to provide for the treatment of payments for child care and other personal use services as an authorized campaign expenditure, and for other purposes; to the Committee on House Administration. By Ms. PORTER (for herself, Ms. Williams of Georgia, Ms. Tlaib, Ms. Moore of Wisconsin, Mrs. Watson Coleman, Ms. Scanlon, and Ms. Tokuda), H387 [1FE] Cosponsors added, H433 [5FE], H504 [6FE] H.R. 7211 — A bill to improve honesty in pet sales, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. ROSS (for herself and Mr. Buchanan), H388 [1FE] H.R. 7212 — A bill to address the behavioral health workforce shortages through support for peer support specialists, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SALINAS (for herself, Mr. Mann, and Mr. Cárdenas), H388 [1FE] Cosponsors added, H824 [5MR] H.R. 7213 — A bill to amend the Public Health Service Act to [enhance activities of the National Institutes of Health with respect to research on autism spectrum disorder and enhance programs relating to autism / reauthorize certain programs with respect to autism spectrum disorder?], and for other purposes; to the Committee on Energy and Commerce. By Mr. SMITH of New Jersey (for himself and Mr. Cuellar), H388 [1FE] Cosponsors added, H3543 [31MY], H3657 [4JN], H3727 [11JN], H4064 [13JN], H4115 [18JN] H.R. 7214 — A bill to require a report on access to maternal health care within the military health system, and for other purposes; to the Committee on Armed Services. By Ms. STEFANIK (for herself and Ms. Sewell), H388 [1FE] Cosponsors added, H2445 [16AP], H2831 [1MY] H.R. 7215 — A bill to express the sense of Congress that aliens who are present in the United States without lawful status under the immigration laws should not receive any benefit under the Medicare program or under the Medicaid program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VAN DREW, H388 [1FE] H.R. 7216 — A bill to direct the Secretary of Health and Human Services to revise regulations to remove the requirement under the Medicare program that an ambulatory surgical center shall report the COVID-19 vaccination status of health care personnel; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. VAN DUYNE (for herself, Mr. Smith of Nebraska, Ms. Tenney, Mrs. Miller-Meeks, Mr. Posey, Mr. Bacon, Mr. Bean of Florida, Mr. Yakym, Mr. Self, Mr. Jackson of Texas, Mr. McCormick, Mr. Cloud, Mr. Tiffany, Ms. Hageman, Mr. Gosar, Mr. Harris, Mr. Nehls, Mr. Biggs, Mr. Davidson, and Mr. Westerman), H388 [1FE] Cosponsors added, H433 [5FE], H504 [6FE], H824 [5MR], H2319 [11AP] H.R. 7217 — A bill making emergency supplemental appropriations to respond to the attacks in Israel for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CALVERT (for himself, Ms. Granger, Mr. Diaz-Balart, Mr. Scalise, Mr. Emmer, and Ms. Stefanik), H430 [5FE] Cosponsors added, H505 [6FE] Debated, H476 [6FE] Text, H476 [6FE] Failed of passage under suspension of the rules, H485 [6FE] H.R. 7218 — A bill to amend title III of the Public Health Service Act to extend the program for promotion of public health knowledge and awareness of Alzheimer’s disease and related dementias, and for other purposes; to the Committee on Energy and Commerce. By Mr. GUTHRIE (for himself, Mr. Tonko, Mr. Smith of New Jersey, and Ms. Waters), H430 [5FE] Cosponsors added, H544 [9FE], H583 [13FE], H639 [14FE], H681 [15FE], H739 [28FE], H774 [29FE], H782 [1MR], H824 [5MR], H1182 [13MR], H1190 [15MR], H1236 [19MR], H1355 [21MR], H2121 [26MR], H2254 [9AP], H2291 [10AP], H2319 [11AP], H2368 [12AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H2560 [19AP], H2629 [23AP], H2636 [26AP], H2771 [30AP], H2831 [1MY], H2876 [6MY], H3000 [8MY], H3275 [15MY], H3330 [16MY], H3400 [21MY] Reported (H. Rept. 118–515), H3396 [21MY] H.R. 7219 — A bill to ensure that Federal agencies rely on the best reasonably available scientific, technical, demographic, economic, and statistical information and evidence to develop, issue or inform the public of the nature and bases of Federal agency rules and guidance, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. McCLAIN (for herself and Ms. Porter), H430 [5FE] Reported with amendment from the Committee on Oversight and Accountability (H. Rept. 118–475, part 1), H2699 [29AP] Committee on the Judiciary discharged, H2699 [29AP] Text, H2842 [6MY] Rules suspended. Passed House amended, H2858 [6MY] Message from the House, S3501 [7MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3501 [7MY] H.R. 7220 — A bill to establish in U.S. Citizenship and Immigration Services of the Department of Homeland Security an EB-5 Regional Center Program Advisory Committee; to the Committee on the Judiciary. By Mr. STANTON (for himself, Mr. Fitzpatrick, Mr. Evans, and Mr. Gooden of Texas), H430 [5FE] Cosponsors added, H681 [15FE], H2876 [6MY], H3543 [31MY], H3657 [4JN] H.R. 7221 — A bill to provide for the conservation and designation of habitat connectivity areas, with support from the voluntary conservation programs administered by the Secretary of Agriculture, as American wildlife corridors, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BEYER (for himself and Mr. Buchanan), H430 [5FE] Cosponsors added, H3727 [11JN] H.R. 7222 — A bill to amend the Internal Revenue Code of 1986 to allow expenses for parents to be taken into account as medical expenses, and for other purposes; to the Committee on Ways and Means. By Mr. BUCHANAN (for himself and Mr. Thompson of California), H430 [5FE] Cosponsors added, H1094 [11MR], H1182 [13MR], H2254 [9AP], H2319 [11AP], H2368 [12AP], H3000 [8MY], H3682 [7JN] H.R. 7223 — A bill to require the Administrator of the Transportation Security Administration of the United States to develop guidelines to improve returning citizens’ access to the Transportation Worker Identification Credential program, to assist individuals in custody of Federal, State, and local prisons in pre-applying or preparing applications for Transportation Worker Identification Credential cards, and to assist individuals requesting an appeal or waiver of preliminary determination of ineligibility, and for other purposes; to the Committee on Homeland Security. By Mr. CARTER of Louisiana (for himself and Mr. Higgins of Louisiana), H430 [5FE] Cosponsors added, H684 [16FE], H697 [26FE] H.R. 7224 — A bill to amend the Public Health Service Act to reauthorize the Stop, Observe, Ask, and Respond to Health and Wellness Training Program; to the Committee on Energy and Commerce. By Mr. COHEN (for himself, Mrs. Wagner, Mr. Cárdenas, and Mr. Carter of Georgia), H430 [5FE] Reported (H. Rept. 118–519), H3482 [22MY] H.R. 7225 — A bill to restore administrative law judges to the competitive service, and for other purposes; to the Committee on Oversight and Accountability. By Mr. CONNOLLY (for himself and Mr. Fitzpatrick), H430 [5FE] Cosponsors added, H2130 [29MR] H.R. 7226 — A bill to require research with respect to fentanyl and xylazine test strips, to authorize the use of grant funds for such test strips, and for other purposes; to the Committee on Energy and Commerce. By Ms. CROCKETT (for herself and Mr. Gooden of Texas), H430 [5FE] H.R. 7227 — A bill to establish the Truth and Healing Commission on Indian Boarding School Policies in the United States, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Natural Resources, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. DAVIDS of Kansas (for herself and Mr. Cole), H430 [5FE] Cosponsors added, H639 [14FE], H824 [5MR], H1034 [7MR], H1236 [19MR], H1298 [20MR], H1500 [22MR], H2291 [10AP], H2319 [11AP], H2368 [12AP], H2445 [16AP], H2831 [1MY], H2876 [6MY], H2938 [7MY], H3000 [8MY], H3205 [14MY], H3330 [16MY], H3358 [17MY], H3400 [21MY], H3657 [4JN], H3675 [5JN], H3976 [12JN], H4064 [13JN] H.R. 7228 — A bill to amend title 17, United States Code, to expand the copyright protection provided to architectural works to golf courses, and for other purposes; to the Committee on the Judiciary. By Mr. FITZPATRICK (for himself and Mr. Panetta), H430 [5FE] H.R. 7229 — A bill to appropriate $25,000,000,000 for the construction of a border wall between the United States and Mexico, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Homeland Security, Energy and Commerce, Financial Services, the Judiciary, Agriculture, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GALLAGHER, H430 [5FE] H.R. 7230 — A bill to amend the definition of extremely low-income families under the United States Housing Act of 1937; to the Committee on Financial Services. By Mrs. GONZÁLEZ-COLÓN (for herself and Mr. Torres of New York), H430 [5FE] H.R. 7231 — A bill to prohibit Federal support for institutions of higher education that promote antisemitism, and for other purposes; to the Committee on Education and the Workforce. By Ms. MALLIOTAKIS, H430 [5FE] Cosponsors added, H505 [6FE], H639 [14FE], H681 [15FE], H739 [28FE], H3000 [8MY] H.R. 7232 — A bill to direct the Secretary of State to revoke the visas of students who have engaged in antisemitic activities, and for other purposes; to the Committee on the Judiciary. By Ms. MALLIOTAKIS, H430 [5FE] Cosponsors added, H505 [6FE], H639 [14FE], H681 [15FE], H3000 [8MY] H.R. 7233 — A bill to amend the Child Abuse Prevention and Treatment Act to provide for grants in support of training and education to teachers and other school employees, students, and the community about how to prevent, recognize, respond to, and report child sexual abuse among primary and secondary school students, amend the Child Abuse Prevention and Treatment Act to provide for grants in support of training and education to teachers and other school employees, students, and the community about how to prevent, recognize, respond to, and report child sexual abuse among primary and secondary school students; to the Committee on Education and the Workforce. By Mr. MORAN (for himself, Mr. McCaul, and Ms. Wild), H430 [5FE] Cosponsors added, H824 [5MR], H1182 [13MR], H3486 [22MY] H.R. 7234 — A bill to ensure that the National Advisory Council on Indian Education includes at least 1 member who is the president of a Tribal College or University and to require the Secretaries of Education and Interior to consider the National Advisory Council on Indian Education’s reports in the preparation of budget materials; to the Committee on Education and the Workforce. By Mr. NEGUSE (for himself, Mr. LaMalfa, and Ms. Davids of Kansas), H430 [5FE] Cosponsors added, H1150 [12MR], H2319 [11AP] H.R. 7235 — A bill to amend the Congressional Budget and Impoundment Control Act of 1974 to provide for a legislative line-item veto to expedite consideration of rescissions, and cancellations of items of new direct spending and limited tax benefits; to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. NORMAN (for himself, Mr. Donalds, Mr. Weber of Texas, and Mr. Ogles), H430 [5FE] H.R. 7236 — A bill to amend the Consolidated Appropriations Act, 2017 to extend the availability of identity protection coverage to individuals whose personally identifiable information was compromised during recent data breaches at Federal agencies, and for other purposes; to the Committee on Oversight and Accountability. By Ms. NORTON (for herself and Mr. Ruppersberger), H431 [5FE] H.R. 7237 — A bill to direct the Secretary of Transportation to establish a grant program to construct barriers near rail lines that are adjacent to a residential structure, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. NORTON, H431 [5FE] H.R. 7238 — A bill to amend the Housing Act of 1949 to extend the term of rural housing site loans and clarify the permissible uses of such loans; to the Committee on Financial Services. By Mr. NUNN of Iowa (for himself and Mr. Nickel), H431 [5FE] H.R. 7239 — A bill to amend the Controlled Substances Act to enhance the penalties applicable with respect to certain violations involving the use of interactive computer service to distribute a controlled substance, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PFLUGER (for himself, Mr. Moylan, Mr. Bacon, Mrs. Steel, Mr. Baird, and Mr. Crenshaw), H431 [5FE] Cosponsors added, H538 [7FE], H1034 [7MR] H.R. 7240 — A bill to achieve a fair, equitable, and final settlement of claims to water rights in the State of Montana for the Fort Belknap Indian Community of the Fort Belknap Reservation of Montana, and for other purposes; to the Committee on Natural Resources. By Mr. ROSENDALE, H431 [5FE] H.R. 7241 — A bill to amend the Consolidated Farm and Rural Development Act to establish an emergency preparedness and response technical assistance program to assist entities that operate rural water or wastewater systems in preparing for and responding to natural or man-made disasters; to the Committee on Agriculture. By Mr. STAUBER (for himself, Mr. Finstad, and Mrs. Fischbach), H431 [5FE] H.R. 7242 — A bill to amend the Small Business Act to increase the maximum gross loan amount for a loan made under section 7(a) of such Act; to the Committee on Small Business. By Mr. THANEDAR, H431 [5FE] Cosponsors added, H1094 [11MR], H1298 [20MR] H.R. 7243 — A bill to reimburse States for expenses incurred relating to securing the border; to the Committee on Homeland Security. By Mr. CURTIS, H501 [6FE] Cosponsors added, H639 [14FE] H.R. 7244 — A bill to amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations; to the Committee on Ways and Means. By Ms. CHU (for herself, Ms. Schakowsky, Ms. Norton, Mr. Gomez, Mr. Raskin, Ms. Balint, Mr. Johnson of Georgia, Mrs. Ramirez, Mr. Davis of Illinois, Ms. Lee of Pennsylvania, Mr. García of Illinois, Mr. Grijalva, Ms. Tlaib, Mrs. Watson Coleman, and Ms. Williams of Georgia), H501 [6FE] Cosponsors added, H583 [13FE], H739 [28FE], H825 [5MR], H1150 [12MR], H1182 [13MR] H.R. 7245 — A bill to provide supplemental appropriations for fiscal year 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOLDMAN of New York (for himself, Mr. Landsman, Mr. Schiff, Mr. Auchincloss, and Mr. Espaillat), H501 [6FE] H.R. 7246 — A bill to prohibit certain persons from purchasing real estate in the United States; to the Committee on Foreign Affairs. By Mr. ALFORD (for himself, Mr. Reschenthaler, Mr. DesJarlais, Mr. Pfluger, Mr. Mooney, Mr. Duncan, Ms. Greene of Georgia, and Mr. Weber of Texas), H501 [6FE] Cosponsors added, H1001 [6MR], H1034 [7MR] H.R. 7247 — A bill to amend the Federal Reserve Act to require Federal Reserve banks to interview at least one individual reflective of gender diversity and one individual reflective of racial or ethnic diversity when appointing Federal Reserve bank presidents, and for other purposes; to the Committee on Financial Services. By Mrs. BEATTY (for herself, Ms. Adams, Mr. Bishop of Georgia, Mr. Carson, Mr. Cleaver, Mr. Evans, Mrs. Hayes, Mr. Johnson of Georgia, Ms. Kelly of Illinois, Ms. Lee of California, Mr. Meeks, Ms. Moore of Wisconsin, Ms. Norton, Mr. Thompson of Mississippi, Mr. Torres of New York, Mr. Veasey, Ms. Velázquez, and Ms. Williams of Georgia), H501 [6FE] Cosponsors added, H583 [13FE], H1150 [12MR] H.R. 7248 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish a process for the qualification of nonclinical testing methods to reduce and replace the use of animals in nonclinical research, improve the predictivity of nonclinical testing methods, and reduce development time for a biological product or other drug, and for other purposes; to the Committee on Energy and Commerce. By Mr. CARTER of Georgia (for himself, Ms. Barragán, Mrs. Harshbarger, Mr. Buchanan, Mr. Carter of Louisiana, Mr. Waltz, Ms. DeLauro, Mr. Nehls, Mr. Gooden of Texas, Mr. Crenshaw, and Mr. Fitzpatrick), H502 [6FE] Cosponsors added, H583 [13FE], H639 [14FE], H694 [23FE], H774 [29FE], H825 [5MR], H1094 [11MR], H1236 [19MR], H1355 [21MR], H1500 [22MR], H2130 [29MR], H2143 [5AP], H2503 [17AP], H2560 [19AP], H2629 [23AP], H2831 [1MY], H3007 [10MY], H3205 [14MY], H3400 [21MY], H3583 [3JN], H3675 [5JN] H.R. 7249 — A bill to require submission of the National Security Strategy and the budget of the President before the President may deliver the State of the Union address; to the Committee on House Administration, and in addition to the Committees on the Budget, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARTER of Georgia, H502 [6FE] Cosponsors added, H739 [28FE], H825 [5MR], H1001 [6MR], H2399 [15AP], H2938 [7MY] H.R. 7250 — A bill to strengthen Federal data collection regarding the teacher and principal workforce; to the Committee on Education and the Workforce. By Mr. CARTWRIGHT (for himself, Mr. Nunn of Iowa, Ms. Moore of Wisconsin, Mr. Morelle, Mr. Mullin, Mr. Trone, and Ms. Tokuda), H502 [6FE] Cosponsors added, H681 [15FE], H1355 [21MR], H4064 [13JN] H.R. 7251 — A bill to amend the Public Health Service Act to reauthorize certain poison control programs; to the Committee on Energy and Commerce. By Mrs. CHAVEZ-DeREMER (for herself, Mr. Joyce of Ohio, Mr. Davis of North Carolina, and Mrs. Cherfilus-McCormick), H502 [6FE] Cosponsors added, H639 [14FE], H1236 [19MR], H2130 [29MR] Reported with amendment (H. Rept. 118–512), H3355 [17MY] H.R. 7252 — A bill to amend the Internal Revenue Code of 1986 to enhance the Child and Dependent Care Tax Credit and make the credit fully refundable for certain taxpayers; to the Committee on Ways and Means. By Mr. DAVIS of Illinois (for himself, Ms. DelBene, Ms. Sánchez, Mr. Blumenauer, Mr. Schneider, Mr. Boyle of Pennsylvania, Ms. Moore of Wisconsin, Mr. Beyer, Mr. Evans, Ms. Sewell, Mrs. Cherfilus-McCormick, Mr. Carson, Mr. Gomez, and Ms. Chu), H502 [6FE] Cosponsors added, H2130 [29MR], H3000 [8MY] H.R. 7253 — A bill to amend section 3706 of title 10, United States Code, to eliminate the submission of cost and pricing data after agreeing on the contract price as a defense to contract price adjustments for defective cost and pricing data, and for other purposes; to the Committee on Armed Services. By Mr. DELUZIO (for himself and Mr. Moylan), H502 [6FE] H.R. 7254 — A bill to direct the Administrator of the Centers for Medicare and Medicaid to clarify that fully implanted active middle ear hearing devices are prosthetics and are not subject to the hearing aid coverage exclusion under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. FISCHBACH (for herself, Ms. Craig, Mr. Emmer, Ms. McCollum, Mr. Finstad, Mr. Phillips, and Mr. Stauber), H502 [6FE] Cosponsors added, H583 [13FE], H2143 [5AP] H.R. 7255 — A bill to require a page on each website of an agency related to discretionary or competitive grants, and for other purposes; to the Committee on Oversight and Accountability. By Ms. HAGEMAN (for herself, Mr. Fry, Ms. Mace, and Mrs. Peltola), H502 [6FE] Cosponsors added, H782 [1MR], H1034 [7MR], H1500 [22MR], H3000 [8MY] H.R. 7256 — A bill to require a full review of the bilateral relationship between the United States and South Africa; to the Committee on Foreign Affairs. By Mr. JAMES (for himself and Mr. Moskowitz), H502 [6FE] Cosponsors added, H688 [20FE], H697 [26FE], H774 [29FE] H.R. 7257 — A bill to reauthorize the Great Lakes Restoration Initiative, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. JOYCE of Ohio (for himself, Mr. Huizenga, Mrs. Dingell, Ms. Kaptur, Ms. Moore of Wisconsin, Mr. Bergman, Mr. Moolenaar, Ms. Tenney, Mr. Steil, Ms. Stevens, Mr. James, Mr. Miller of Ohio, Mr. Schneider, Mrs. McClain, Ms. Slotkin, Mr. Krishnamoorthi, Mr. Morelle, Mr. Quigley, and Mr. Walberg), H502 [6FE] Cosponsors added, H538 [7FE], H544 [9FE], H639 [14FE], H694 [23FE], H1150 [12MR], H1236 [19MR], H2130 [29MR], H2522 [18AP], H3526 [23MY] H.R. 7258 — A bill to amend the Public Health Service Act to provide community-based training opportunities for medical students in rural areas and medically underserved communities, and for other purposes; to the Committee on Energy and Commerce. By Mrs. MILLER of West Virginia (for herself and Ms. Kuster), H502 [6FE] Cosponsors added, H1182 [13MR], H2399 [15AP], H2938 [7MY], H3400 [21MY], H3583 [3JN] H.R. 7259 — A bill to provide for expedited removal of certain illegal aliens; to the Committee on the Judiciary. By Mr. OGLES (for himself, Mr. Clyde, Mr. Duncan, and Mr. Moore of Alabama), H502 [6FE] Cosponsors added, H694 [23FE], H2623 [20AP] H.R. 7260 — A bill to amend the Higher Education Act of 1965 to establish a program that enables college-bound residents of the Northern Mariana Islands and American Samoa to have greater choices among institutions of higher education, and for other purposes; to the Committee on Education and the Workforce. By Mr. SABLAN (for himself and Mrs. Radewagen), H502 [6FE] H.R. 7261 — A bill to authorize the Secretary of Education to award grants to eligible entities to carry out professional development for arts educators and creative arts therapists to learn how to best accommodate children with disabilities, and for other purposes; to the Committee on Education and the Workforce. By Mr. DAVID SCOTT of Georgia (for himself, Mr. Cohen, Mrs. McBath, Ms. Balint, Mr. Goldman of New York, Ms. Ross, Ms. Adams, Mr. Johnson of Georgia, Ms. Scanlon, Mr. Frost, Mr. Payne, Ms. Schakowsky, and Ms. Lee of Pennsylvania), H502 [6FE] Cosponsors added, H825 [5MR], H2319 [11AP], H3976 [12JN] H.R. 7262 — A bill to amend the Immigration and Nationality Act to base the numerical limitations for H-2B nonimmigrants on economic need, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SLOTKIN (for herself and Mr. Bergman), H502 [6FE] Cosponsors added, H583 [13FE] H.R. 7263 — A bill to authorize amounts collected in certain visa fees to be made available to reduce visa wait times, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Foreign Affairs, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TITUS (for herself, Ms. Salazar, Mr. Krishnamoorthi, Mrs. González-Colón, and Ms. Norton), H502 [6FE] Cosponsors added, H544 [9FE] H.R. 7264 — A bill to prohibit certain defense industry stock trading and ownership by Members of Congress and spouses of Members of Congress, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on House Administration, Agriculture, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TLAIB (for herself and Ms. Bush), H502 [6FE] Cosponsors added, H697 [26FE] H.R. 7265 — A bill to authorize the Secretary of Health and Human Services to award grants to establish or expand programs to implement evidence-aligned practices in health care settings for the purpose of reducing the suicide rates of covered individuals, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. UNDERWOOD (for herself and Ms. Schrier), H534 [7FE] Cosponsors added, H4110 [14JN] H.R. 7266 — A bill to amend the Public Health Service Act to authorize grants to support schools of nursing in increasing the number of nursing students and faculty and in program enhancement and infrastructure modernization, and for other purposes; to the Committee on Energy and Commerce. By Ms. UNDERWOOD, H534 [7FE] Cosponsors added, H681 [15FE], H688 [20FE], H2130 [29MR], H3526 [23MY], H3657 [4JN], H3727 [11JN], H3976 [12JN] H.R. 7267 — A bill to amend title XIX of the Social Security Act to provide a temporary higher Federal medical assistance percentage for Federal expenditures under the Medicaid program that are associated with the cost of compliance with certain Federal regulations with respect to services furnished in certain intermediate care facilities or home and community-based services furnished to individuals with intellectual and developmental disabilities; to the Committee on Energy and Commerce. By Mr. TONKO (for himself and Mr. Fitzpatrick), H534 [7FE] Cosponsors added, H583 [13FE] H.R. 7268 — A bill to amend the Public Health Service Act to authorize the Secretary of Health and Human Services to carry out a program of research, training, and investigation related to Down syndrome, and for other purposes; to the Committee on Energy and Commerce. By Mrs. RODGERS of Washington (for herself, Ms. DeGette, Mr. Cole, and Ms. Norton), H535 [7FE] H.R. 7269 — A bill to prohibit certain discrimination against athletes on the basis of sex by intercollegiate athletic associations, and for other purposes; to the Committee on Education and the Workforce. By Ms. ADAMS (for herself, Ms. Bonamici, and Mrs. Trahan), H535 [7FE] H.R. 7270 — A bill to prohibit fetal remains in publicly owned water systems, and for other purposes; to the Committee on Energy and Commerce. By Mr. BANKS (for himself, Mr. Duncan, Mrs. Miller of Illinois, Mr. Mooney, Mr. LaMalfa, and Mr. McCormick), H535 [7FE] H.R. 7271 — A bill making emergency supplemental appropriations to respond to the attacks in Israel for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BIGGS, H535 [7FE] Cosponsors added, H544 [9FE], H639 [14FE], H1001 [6MR] H.R. 7272 — A bill to require reports on the progress and implementation of the Bipartisan Safer Communities Act; to the Committee on the Judiciary. By Ms. BROWN (for herself, Ms. Balint, Mr. Connolly, Mrs. Cherfilus-McCormick, Mr. Cleaver, Mrs. Foushee, Mr. Frost, Mr. Johnson of Georgia, Ms. Norton, Ms. Kaptur, Ms. Kelly of Illinois, Ms. Kuster, Ms. Leger Fernandez, Mr. Lieu, Mr. Magaziner, Ms. McClellan, Mr. Scott of Virginia, Mr. Soto, Mrs. Sykes, Ms. Tokuda, Ms. Moore of Wisconsin, Mr. Moskowitz, Mr. Amo, Mr. Evans, and Mr. Carter of Louisiana), H535 [7FE] Cosponsors added, H544 [9FE], H583 [13FE], H681 [15FE], H2254 [9AP] H.R. 7273 — A bill to rescind certain unobligated balances relating to charging and fueling grants and national electric vehicle grants; to the Committee on Appropriations, and in addition to the Committees on Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BURLISON (for himself, Ms. Hageman, Mr. Ogles, Mr. Nehls, Mr. Perry, Mr. Donalds, Mr. Roy, Mr. Weber of Texas, Ms. Boebert, Mr. Rosendale, and Mr. Edwards), H535 [7FE] Cosponsors added, H544 [9FE], H697 [26FE], H825 [5MR], H3400 [21MY] H.R. 7274 — A bill to amend title XVIII of the Social Security Act to provide for outreach and education to Medicare beneficiaries to simplify access to information for family caregivers through 1-800-MEDICARE, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CAREY (for himself and Ms. Chu), H535 [7FE] Cosponsors added, H825 [5MR], H1094 [11MR], H1190 [15MR], H1500 [22MR], H2254 [9AP], H2629 [23AP], H2938 [7MY], H3535 [28MY], H3657 [4JN], H3682 [7JN] H.R. 7275 — A bill to establish a national mercury monitoring program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARTWRIGHT (for himself, Mr. Fitzpatrick, Mr. Mast, and Ms. Norton), H535 [7FE] H.R. 7276 — A bill to amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services; to the Committee on Ways and Means. By Mr. CONNOLLY (for himself and Mr. Thompson of Pennsylvania), H535 [7FE] H.R. 7277 — A bill to amend title 18, United States Code, to increase the time of imprisonment for an additional offense involving actual or perceived race, color, religion, or national origin; to the Committee on the Judiciary. By Mr. D’ESPOSITO (for himself, Mr. Nickel, Mr. Lawler, and Mr. Thanedar), H535 [7FE] H.R. 7278 — A bill to amend the Internal Revenue Code of 1986 to qualify homeless youth and veterans who are full-time students for purposes of the low-income housing tax credit; to the Committee on Ways and Means. By Mr. DAVIS of Illinois (for himself and Mr. Wenstrup), H535 [7FE] H.R. 7279 — A bill to amend title XVIII of the Social Security Act to reduce the administrative burden on physicians and physical and occupational therapists, with respect to plan of care certification and recertification requirements; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DAVIS of North Carolina (for himself and Mr. Smucker), H535 [7FE] Cosponsors added, H2368 [12AP], H3727 [11JN], H4110 [14JN] H.R. 7280 — A bill to require the Inspector General of the Department of Housing and Urban Development to testify before the Congress annually, and for other purposes; to the Committee on Financial Services. By Ms. DE LA CRUZ (for herself, Mr. Barr, Mr. Ogles, Mr. Donalds, Mr. Lawler, Mr. Crenshaw, Mr. Flood, Mr. Meuser, Mr. Huizenga, Mr. Rose, Mr. Norman, Mr. Weber of Texas, Mr. McCaul, Mr. Posey, Mr. Loudermilk, Mr. Williams of Texas, Ms. Hageman, Mrs. Wagner, and Ms. Porter), H535 [7FE] Cosponsors added, H583 [13FE], H1058 [8MR], H2130 [29MR], H2876 [6MY], H4115 [18JN] H.R. 7281 — A bill to assist entrepreneurs and support development of the creative economy, and for other purposes; to the Committee on Small Business, and in addition to the Committees on Financial Services, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. DINGELL (for herself and Mrs. González-Colón), H535 [7FE] H.R. 7282 — A bill to amend title XIX of the Social Security Act to provide States with an option to provide medical assistance to individuals between the ages of 22 and 64 for inpatient services to treat substance use disorders at certain facilities, and for other purposes; to the Committee on Energy and Commerce. By Mr. FOSTER (for himself, Mrs. Beatty, Mr. Van Drew, and Ms. Moore of Wisconsin), H535 [7FE] Cosponsors added, H1500 [22MR] H.R. 7283 — A bill to direct the Comptroller General of the United States to evaluate and report on the inpatient and outpatient treatment capacity, availability, and needs of the United States; to the Committee on Energy and Commerce, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FOSTER, H535 [7FE] H.R. 7284 — A bill to prohibit the Environmental Protection Agency from using assessments generated by the Integrated Risk Information System as a tier 1 data source in rulemakings and other regulatory actions, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Agriculture, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GROTHMAN, H535 [7FE] Cosponsors added, H825 [5MR] H.R. 7285 — A bill to amend the Food and Nutrition Act of 2008 to increase the Federal cost share for the supplemental nutrition assistance program administration to improve staffing and retention; to the Committee on Agriculture. By Mrs. HAYES (for herself, Ms. Norton, Ms. Brown, Ms. Tokuda, Mrs. Watson Coleman, Mr. Carson, Ms. Adams, Mr. McGovern, and Mr. Soto), H535 [7FE] Cosponsors added, H544 [9FE], H694 [23FE], H2121 [26MR], H2629 [23AP], H3486 [22MY], H3657 [4JN], H4115 [18JN] H.R. 7286 — A bill to amend title 23, United States Code, to require transportation planners to consider projects and strategies to reduce greenhouse gas emissions, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. HUFFMAN, H535 [7FE] H.R. 7287 — A bill to require a report on the Taliban relationships with China and Russia; to the Committee on Foreign Affairs. By Mr. JACKSON of Texas (for himself, Mr. McCaul, Mr. Lamborn, and Mr. D’Esposito), H535 [7FE] Cosponsors added, H583 [13FE], H681 [15FE], H2254 [9AP] H.R. 7288 — A bill to repeal Freedom Support Act section 907 waiver authority with respect to assistance to Azerbaijan; to the Committee on Foreign Affairs. By Mr. LAWLER (for himself, Mr. Pallone, Mr. Bilirakis, and Mr. Amo), H535 [7FE] Cosponsors added, H544 [9FE], H583 [13FE], H639 [14FE], H694 [23FE], H739 [28FE], H1001 [6MR], H1034 [7MR], H1190 [15MR], H1236 [19MR], H1355 [21MR], H2121 [26MR], H2136 [2AP], H2291 [10AP], H2636 [26AP], H3543 [31MY] H.R. 7289 — A bill to establish the Mississippi River Restoration and Resilience Initiative to carry out projects for the protection and restoration of the Mississippi River Corridor, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. McCOLLUM (for herself, Mrs. Ramirez, Mr. García of Illinois, Mr. Carter of Louisiana, Mr. Phillips, Mr. Thompson of Mississippi, Ms. Bush, and Ms. Moore of Wisconsin), H535 [7FE] Cosponsors added, H583 [13FE] H.R. 7290 — A bill to prohibit corruption in the office of any State or local chief prosecutor; to the Committee on the Judiciary. By Mr. MILLS (for himself, Mr. McCormick, and Mr. Donalds), H535 [7FE] H.R. 7291 — A bill to amend the Workforce Innovation and Opportunity Act to direct the Secretary of Labor to award grants to train workers for broadband careers; to the Committee on Education and the Workforce. By Mr. MOLINARO (for himself, Mr. Davis of North Carolina, and Mr. Nickel), H535 [7FE] Cosponsors added, H1298 [20MR], H3275 [15MY] H.R. 7292 — A bill to amend title XI of the Social Security Act to lower barriers to increase patient access to health care; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOORE of Utah (for himself, Mr. Schneider, Ms. Malliotakis, and Mr. Panetta), H535 [7FE] Cosponsors added, H4115 [18JN] H.R. 7293 — A bill to amend the Internal Revenue Code of 1986 to provide rules for automatic contribution retirement plans and arrangements; to the Committee on Ways and Means. By Mr. NEAL, H536 [7FE] Cosponsors added, H681 [15FE] H.R. 7294 — A bill to amend the Agricultural Credit Act of 1978 to authorize the Secretary of Agriculture to carry out emergency watershed protection measures on National Forest System land, and for other purposes; to the Committee on Agriculture. By Mr. NEGUSE (for himself, Ms. Maloy, Ms. Caraveo, and Mr. Curtis), H536 [7FE] Cosponsors added, H681 [15FE], H694 [23FE] H.R. 7295 — A bill to authorize the conveyance of property in North Bonneville, Washington, to the Port of Skamania, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. PEREZ (for herself and Mr. Larsen of Washington), H536 [7FE] H.R. 7296 — A bill to establish a Federal Clearinghouse on Safety and Best Practices for Nonprofit Organizations, Faith-based Organizations, and Houses of Worship within the Department of Homeland Security, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. PORTER (for herself, Ms. Salazar, and Mr. Carter of Louisiana), H536 [7FE] Cosponsors added, H639 [14FE], H688 [20FE], H739 [28FE], H825 [5MR] H.R. 7297 — A bill to amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes; to the Committee on Financial Services. By Mr. ROSE (for himself, Mr. Torres of New York, Mr. Luetkemeyer, Mr. Nickel, Mr. Posey, Ms. Pettersen, Ms. De La Cruz, Mr. Ogles, Mr. Johnson of South Dakota, Mr. Bergman, and Mr. Hill), H536 [7FE] Cosponsors added, H544 [9FE], H583 [13FE], H739 [28FE], H825 [5MR], H1094 [11MR], H1237 [19MR], H1298 [20MR], H2254 [9AP], H2291 [10AP], H2319 [11AP], H2368 [12AP], H2560 [19AP], H2636 [26AP], H2771 [30AP], H2831 [1MY], H2876 [6MY], H3486 [22MY], H3526 [23MY], H3535 [28MY], H3657 [4JN], H3682 [7JN], H3976 [12JN] H.R. 7298 — A bill to provide for a pilot program to accord lawful permanent residence; to the Committee on the Judiciary. By Mr. RYAN (for himself and Mr. James), H536 [7FE] Removal of cosponsors, H740 [28FE] H.R. 7299 — A bill to authorize to be appropriated to the to the Secretary of Housing and Urban Affairs, $1,500,000,000 to carry out the HOME Investment Partnership Program, and for other purposes; to the Committee on Financial Services. By Mr. SCHIFF (for himself, Ms. Norton, Mrs. Watson Coleman, and Mr. Gomez), H536 [7FE] Cosponsors added, H544 [9FE], H583 [13FE], H1058 [8MR], H1094 [11MR], H1190 [15MR] H.R. 7300 — A bill to amend title V of the Social Security Act to extend funding for the family-to-family health information centers; to the Committee on Energy and Commerce. By Ms. SHERRILL (for herself and Ms. De La Cruz), H536 [7FE] Cosponsors added, H739 [28FE], H3275 [15MY], H3583 [3JN] H.R. 7301 — A bill to amend the Protecting Access to Medicare Act of 2014 to clarify the meaning of psychiatric rehabilitation services under demonstration programs to improve community mental health services, and for other purposes; to the Committee on Energy and Commerce. By Mr. TORRES of New York (for himself and Mr. Thanedar), H536 [7FE] H.R. 7302 — A bill to require the Secretary of Housing and Urban Development to require public housing agencies to disclose contracts entered into, and for other purposes; to the Committee on Financial Services. By Mr. TORRES of New York, H536 [7FE] H.R. 7303 — A bill to abolish the Board on Geographic Names and repeal the provisions of the Act of July 25, 1947 establishing such Board; to the Committee on Natural Resources. By Mr. VAN DREW (for himself, Mrs. Harshbarger, Mr. Moore of Alabama, and Mr. Carl), H536 [7FE] H.R. 7304 — A bill to amend title II of the Social Security Act to establish that benefits paid to a parent caring for the child of an individual who died while performing active duty as a member of the Armed Services are not subject to deductions under the retirement earnings test; to the Committee on Ways and Means. By Mr. WALTZ (for himself, Ms. Houlahan, Mr. Bishop of Georgia, Mr. Bacon, Mr. Davis of North Carolina, and Mr. Nunn of Iowa), H536 [7FE] H.R. 7305 — A bill to direct the Secretary of Defense to provide to the Committees on Armed Services of the Senate and House of Representatives a report and briefing on anomalous health incidents affecting members of the Armed Forces and civilian employees of the Department of Defense; to the Committee on Armed Services. By Mr. WENSTRUP (for himself, Ms. Spanberger, Mr. Bacon, Mr. Crawford, and Mr. Kelly of Mississippi), H536 [7FE] Cosponsors added, H774 [29FE], H2636 [26AP] H.R. 7306 — A bill to amend the Internal Revenue Code of 1986 to include publication of written news articles as a tax-exempt purpose for organizations, and for other purposes; to the Committee on Ways and Means. By Mr. DeSAULNIER (for himself, Mr. Raskin, and Ms. Norton), H542 [9FE] Cosponsors added, H583 [13FE] H.R. 7307 — A bill to amend the Public Health Service Act to establish a grant program to expand the number of allied health professionals in underserved communities and rural areas, and for other purposes; to the Committee on Energy and Commerce. By Mr. MOLINARO (for himself and Ms. Craig), H542 [9FE] Cosponsors added, H681 [15FE], H782 [1MR], H1190 [15MR] H.R. 7308 — A bill to direct the Attorney General to establish a grant program to establish, implement, and administer violent incident clearance and technology investigative methods, and for other purposes; to the Committee on the Judiciary. By Mr. BACON (for himself and Mr. Evans), H542 [9FE] Cosponsors added, H4115 [18JN] H.R. 7309 — A bill to repeal certain formula grants under the Elementary and Secondary Education Act of 1965 and use such funds to award block grants to States; to the Committee on Education and the Workforce. By Mr. BURCHETT, H542 [9FE] Cosponsors added, H774 [29FE] H.R. 7310 — A bill to require the Secretary of Housing and Urban Development to provide a disclosure notice to homebuyers of properties owned by the Department of Housing and Urban Development that are located in special flood hazard areas, and for other purposes; to the Committee on Financial Services. By Mr. DIAZ-BALART (for himself, Ms. Lois Frankel of Florida, Mr. Gimenez, Ms. Wasserman Schultz, Ms. Salazar, and Mr. Waltz), H543 [9FE] Cosponsors added, H774 [29FE] H.R. 7311 — A bill to amend the Homeland Security Act of 2002 to enhance the operations of U.S. Customs and Border Protection in foreign countries, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GUEST (for himself and Mr. McCaul), H543 [9FE] Cosponsors added, H3727 [11JN] H.R. 7312 — A bill to provide for requirements for electronic-prescribing for controlled substances under group health plans and group and individual health insurance coverage; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, Ways and Means, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. KUSTER (for herself, Mr. Balderson, and Ms. Letlow), H543 [9FE] H.R. 7313 — A bill to require the Secretary of Defense to brief Congress on progress in capturing the leadership of the Jalisco New Generation Cartel; to the Committee on Armed Services. By Mr. LUTTRELL, H543 [9FE] H.R. 7314 — A bill to create a task force within the Department of Commerce to oversee and promote diversity, equity, inclusion, and accessibility in the tech industry; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MEEKS (for himself and Ms. Lee of California), H543 [9FE] Cosponsors added, H639 [14FE], H681 [15FE], H697 [26FE], H1001 [6MR], H1058 [8MR], H1298 [20MR], H1355 [21MR], H2291 [10AP], H2503 [17AP] H.R. 7315 — A bill to direct the Secretary of Labor to support the development of pre-apprenticeship programs in the building and construction trades that serve underrepresented populations, including individuals from low income and rural census tracts; to the Committee on Education and the Workforce. By Mr. NORCROSS (for himself, Mr. Fitzpatrick, Ms. Budzinski, Ms. Castor of Florida, Mr. Robert Garcia of California, Ms. Perez, Mr. Joyce of Ohio, Mr. Kean of New Jersey, and Mr. Morelle), H543 [9FE] Cosponsors added, H2136 [2AP], H2636 [26AP], H2831 [1MY], H3000 [8MY], H3976 [12JN] H.R. 7316 — A bill to make improvements in the enactment of title 54, United States Code, into a positive law title and to correct related technical errors; to the Committee on the Judiciary. By Mr. TIFFANY, H543 [9FE] H.R. 7317 — A bill to amend the Public Health Service Act to authorize the Secretary of Health and Human Services to award grants to nursing homes, assisted living facilities, and other long-term care facilities to improve their preparedness for power outages; to the Committee on Energy and Commerce. By Ms. WILSON of Florida, H543 [9FE] H.R. 7318 — A bill to combat child human trafficking, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Education and the Workforce, Energy and Commerce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. WILSON of Florida, H543 [9FE] H.R. 7319 — A bill to amend the Internal Revenue Code of 1986 to prohibit 501(c)(3) organizations from providing direct funding to official election organizations and to amend the Help America Vote Act of 2002 to prohibit the District of Columbia from receiving or using funds or certain donations from private entities for the administration of a District of Columbia election, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TENNEY (for herself and Mr. Cole), H580 [13FE] Reported with amendment (H. Rept. 118–509, part 1), H3202 [14MY] H.R. 7320 — A bill to reform the Foreign Intelligence Surveillance Act of 1978; to the Committee on the Judiciary, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. LEE of Florida, H580 [13FE] H.R. 7321 — A bill to amend the Federal Election Campaign Act of 1971 to modernize certain reporting requirements for electioneering communications, and for other purposes; to the Committee on House Administration. By Mr. MORELLE (for himself, Mr. Steil, and Mr. Neguse), H580 [13FE] Reported (H. Rept. 118–534), H3581 [3JN] H.R. 7322 — A bill to amend the Immigration and Nationality Act with respect to enforcement by an attorney general of a State; to the Committee on the Judiciary. By Mr. BISHOP of North Carolina (for himself, Mr. Roy, Mr. Ogles, and Mr. Tiffany), H580 [13FE] Cosponsors added, H640 [14FE], H681 [15FE], H774 [29FE], H825 [5MR], H1058 [8MR], H1094 [11MR] Reported with amendment (H. Rept. 118–435), H2134 [2AP] H.R. 7323 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to disapprove courses of education offered by a public institution of higher learning that does not charge the in-State tuition rate to a veteran using certain educational assistance under title 10 of such Code; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VAN ORDEN (for himself and Mr. McGarvey), H580 [13FE] H.R. 7324 — A bill to make improvements in the enactment of title 41, United States Code, into a positive law title and to improve the Code; to the Committee on the Judiciary. By Ms. BALINT, H580 [13FE] H.R. 7325 — A bill to address the housing crisis through bold investments to increase and preserve the national affordable housing supply, paths to homeownership, and perpetual affordability through shared equity housing and community land trust models, investigating landlord price fixing, and providing relief for rural renters, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BALINT (for herself, Mr. Gomez, Mr. Davis of Illinois, Mr. García of Illinois, Mr. Goldman of New York, Mr. Johnson of Georgia, Mr. Jackson of Illinois, Ms. Lee of Pennsylvania, Ms. Moore of Wisconsin, Mr. Mullin, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Mrs. Ramirez, Ms. Sánchez, Ms. Schakowsky, Mr. Smith of Washington, Ms. Stansbury, Mr. Thanedar, Ms. Tlaib, Ms. Tokuda, Ms. Underwood, Mrs. Watson Coleman, Ms. Porter, and Mr. Pocan), H580 [13FE] Cosponsors added, H640 [14FE], H681 [15FE], H688 [20FE], H694 [23FE], H697 [26FE], H782 [1MR], H1298 [20MR], H2254 [9AP], H2702 [29AP] H.R. 7326 — A bill to amend chapters 4, 10, and 131 of title 5, United States Code, as necessary to keep those chapters current and to correct related technical errors; to the Committee on the Judiciary. By Mr. BENTZ, H580 [13FE] H.R. 7327 — A bill to amend title XIX of the Social Security Act to ensure adequate consideration of payment rates for multimission hospitals under the Medicaid program, and for other purposes; to the Committee on Energy and Commerce. By Ms. DeGETTE, H580 [13FE] Cosponsors added, H1182 [13MR], H2130 [29MR] H.R. 7328 — A bill to establish an Office of Housing Innovation in the Department of Housing and Urban Development to assist in exploring and developing new approaches for increasing and diversifying the supply of housing and for meeting the challenges of housing shortages, housing affordability, and traffic congestion, and for other purposes; to the Committee on Financial Services. By Mr. DeSAULNIER, H580 [13FE] H.R. 7329 — A bill to amend title 5, United States Code, to establish Election Day as a legal public holiday, and for other purposes; to the Committee on Oversight and Accountability. By Ms. ESHOO (for herself, Mrs. Watson Coleman, Ms. Norton, Mr. Goldman of New York, Ms. Williams of Georgia, Mr. Schiff, Mr. Meeks, Ms. Velázquez, Ms. Lee of California, Mr. Phillips, Mr. Moulton, Mr. Thompson of Mississippi, Mr. Johnson of Georgia, Ms. Clarke of New York, Mr. Garamendi, Mr. Ruppersberger, Mr. Carson, Mr. Grijalva, Mr. Casten, Mr. Lieu, Mr. Espaillat, and Mr. Blumenauer), H580 [13FE] Cosponsors added, H2445 [16AP] H.R. 7330 — A bill to amend the Secure Fence Act of 2006 to authorize certain States to erect temporary protective fencing within 25 miles of the southwest border to deter unlawful immigration, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GAETZ, H580 [13FE] H.R. 7331 — A bill to establish a FISA Oversight Office for applications under the Foreign Intelligence Surveillance Act of 1978; to the Committee on the Judiciary, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LIEU, H580 [13FE] H.R. 7332 — A bill to require the Secretary of the Interior and the Secretary of Agriculture to convey certain Federal land to the State of Utah for inclusion in certain State parks, and for other purposes; to the Committee on Natural Resources. By Ms. MALOY, H580 [13FE] H.R. 7333 — A bill to name the Department of Veterans Affairs medical center in West Palm Beach, Florida, as the ‘‘Thomas H. Corey VA Medical Center’’; to the Committee on Veterans’ Affairs. By Mr. MAST (for himself, Mr. Gaetz, Mr. Dunn of Florida, Mrs. Cammack, Mr. Bean of Florida, Mr. Rutherford, Mr. Waltz, Mr. Mills, Mr. Posey, Mr. Soto, Mr. Frost, Mr. Webster of Florida, Mr. Bilirakis, Mrs. Luna, Ms. Castor of Florida, Ms. Lee of Florida, Mr. Buchanan, Mr. Steube, Mr. Scott Franklin of Florida, Mr. Donalds, Mrs. Cherfilus-McCormick, Ms. Lois Frankel of Florida, Mr. Moskowitz, Ms. Wilson of Florida, Ms. Wasserman Schultz, Mr. Diaz-Balart, Ms. Salazar, and Mr. Gimenez), H580 [13FE] Cosponsors added, H1237 [19MR] H.R. 7334 — A bill to amend the Immigration and Nationality Act to provide for the detention of certain aliens who commit robbery; to the Committee on the Judiciary. By Mr. McCLINTOCK, H580 [13FE] Cosponsors added, H739 [28FE], H774 [29FE], H825 [5MR] H.R. 7335 — A bill to direct the Attorney General, in coordination with the Secretary of Homeland Security, to report to the appropriate committees on encounters with covered aliens included in the terrorist screening database; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. McCLINTOCK, H580 [13FE] Cosponsors added, H825 [5MR] H.R. 7336 — A bill to amend title 1, United States Code, to provide that, for the purpose of determining eligibility for Federal funds, the District of Columbia shall be treated as a State and any political subdivision of a State or unit of local government, and for other purposes; to the Committee on the Judiciary. By Ms. NORTON, H580 [13FE] H.R. 7337 — A bill to provide a short-term disability insurance program for Federal employees for disabilities that are not work-related, and for other purposes; to the Committee on Oversight and Accountability. By Ms. NORTON, H581 [13FE] H.R. 7338 — A bill to establish an Office of the Community Development Advocate for the Community Development Financial Institutions Fund, to establish a process for decertification of community development financial institutions, and for other purposes; to the Committee on Financial Services. By Mr. NUNN of Iowa (for himself and Mr. Davis of North Carolina), H581 [13FE] Cosponsors added, H1094 [11MR] H.R. 7339 — A bill to make revisions in title 51, United States Code, as necessary to keep the title current, and to make technical amendments to improve the United States Code; to the Committee on the Judiciary. By Ms. ROSS, H581 [13FE] H.R. 7340 — A bill to amend title 38, United States Code, to make certain improvements to the laws relating to the recognition of agents, attorneys, organizations and their representatives, and other individuals for the purposes of assisting in the preparation, presentation, and prosecution of claims for benefits under the laws administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. STANTON (for himself and Mrs. Lesko), H581 [13FE] H.R. 7341 — A bill to make technical amendments to title 49, United States Code, as necessary to improve the Code; to the Committee on the Judiciary. By Mr. TIFFANY, H581 [13FE] H.R. 7342 — A bill to establish the Veterans Advisory Committee on Equal Access, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. VALADAO (for himself and Mr. McGarvey), H581 [13FE] Cosponsors added, H1237 [19MR], H4115 [18JN] H.R. 7343 — A bill to amend the Immigration and Nationality Act to provide for the detention of certain aliens who commit assault against law enforcement officers; to the Committee on the Judiciary. By Mr. VAN DREW, H581 [13FE] Cosponsors added, H774 [29FE], H825 [5MR], H1001 [6MR], H1034 [7MR], H1094 [11MR] Reported with amendment (H. Rept. 118–478), H2768 [30AP] Debated, H3230 [15MY] Text, H3233 [15MY] Amendments, H3233, H3234, H3235 [15MY] Passed House amended, H3252 [15MY] Providing for consideration (H. Res. 1227), H3272 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on the Judiciary, S3752 [16MY] H.R. 7344 — A bill to amend the Richard B. Russell National School Lunch Act to expand the use of salad bars in schools; to the Committee on Education and the Workforce. By Ms. WILSON of Florida, H581 [13FE] H.R. 7345 — A bill to amend the Congressional Budget Act of 1974 to modify the rules with respect to the consideration in the House of Representatives of any resolution providing for an adjournment period of more than three calendar days during the month of July or August until the House of Representatives has approved annual appropriation bills, and for other purposes; to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BRECHEEN (for himself and Mr. Kilmer), H637 [14FE] H.R. 7346 — A bill to amend the Public Health Service Act to provide for the continued implementation of the Climate and Health program by the Centers for Disease Control and Prevention; to the Committee on Energy and Commerce. By Ms. UNDERWOOD (for herself, Mr. Payne, Ms. Brown, Mr. García of Illinois, Ms. Sewell, Ms. Plaskett, Mrs. Watson Coleman, Ms. Schakowsky, Ms. Adams, Ms. Norton, Ms. Lee of Pennsylvania, and Ms. Jacobs), H637 [14FE] Cosponsors added, H739 [28FE], H774 [29FE], H825 [5MR], H1058 [8MR], H1182 [13MR], H1237 [19MR], H2503 [17AP], H3727 [11JN] H.R. 7347 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to report on whether the Secretary will include certain psychedelic drugs in the formulary of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. VAN ORDEN, H637 [14FE] Cosponsors added, H1182 [13MR] H.R. 7348 — A bill to interconnect the Electric Reliability Council of Texas to its neighbors, and for other purposes; to the Committee on Energy and Commerce. By Mr. CASAR (for himself, Mr. Carter of Louisiana, Mr. Castro of Texas, Mr. Cleaver, Ms. Crockett, Mr. Doggett, Ms. Escobar, Mr. Frost, Mr. Robert Garcia of California, Ms. Garcia of Texas, Mr. Green of Texas, Ms. Jackson Lee, Ms. Jayapal, Ms. Norton, Mr. Huffman, Ms. Omar, Mrs. Ramirez, and Ms. Tlaib), H637 [14FE] Cosponsors added, H681 [15FE], H825 [5MR], H2254 [9AP] H.R. 7349 — A bill to criminalize the intentional obstruction of roadways on the Interstate System; to the Committee on the Judiciary. By Mr. COLLINS (for himself, Mr. Yakym, Mr. Nehls, Mr. LaMalfa, Mr. Weber of Texas, and Mr. Owens), H637 [14FE] Cosponsors added, H739 [28FE], H2445 [16AP] H.R. 7350 — A bill to support local governments for jurisdictions that elect or appoint a person with a disability in providing the accommodations needed for the elected or appointed official to carry out their official work duties, and to build the capacity of local governments to have consistent and adequate funding for accommodations; to the Committee on Education and the Workforce. By Ms. DEAN of Pennsylvania (for herself and Ms. Scanlon), H637 [14FE] H.R. 7351 — A bill to allow individuals with disabilities to campaign for elected office without losing access to federally supported benefits; to the Committee on Oversight and Accountability. By Ms. DEAN of Pennsylvania (for herself and Ms. Scanlon), H637 [14FE] Cosponsors added, H681 [15FE], H694 [23FE], H3657 [4JN] H.R. 7352 — A bill to prohibit States from prohibiting or otherwise deterring the usage of any merchant category code established by the International Organization for Standardization, including codes that identify firearm merchants and ammunition merchants; to the Committee on Financial Services. By Mr. FROST (for himself, Mr. Horsford, Ms. Kelly of Illinois, and Mr. Moskowitz), H637 [14FE] Cosponsors added, H681 [15FE], H688 [20FE], H694 [23FE], H739 [28FE] H.R. 7353 — A bill to provide temporary war risk insurance for certain commercial vessels operating importing goods to, or exporting goods from, Ukraine; to the Committee on Foreign Affairs, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KEATING (for himself, Mr. Quigley, and Mr. McGovern), H637 [14FE] H.R. 7354 — A bill to establish an Interagency Task Force to examine the conditions and experiences of Black women and girls in education, economic development, healthcare, labor and employment, housing, justice and civil rights, to promote community-based methods for mitigating and addressing harm and ensuring accountability, and to study societal effects on Black women and girls, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Education and the Workforce, Energy and Commerce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. KELLY of Illinois (for herself, Ms. Clarke of New York, Mrs. Watson Coleman, Mr. Fitzpatrick, Mrs. Beatty, Ms. Sewell, Ms. Blunt Rochester, Ms. Norton, Ms. Adams, Mrs. Foushee, Ms. Waters, Ms. McClellan, Ms. Crockett, Ms. Williams of Georgia, Ms. Lee of California, Ms. Moore of Wisconsin, Ms. Kamlager-Dove, Ms. Brown, Mrs. Cherfilus-McCormick, Ms. Lee of Pennsylvania, Mrs. McBath, Mrs. Hayes, Ms. Strickland, Ms. Pressley, Mrs. Sykes, Mr. Thanedar, Mr. Jackson of Illinois, Ms. Plaskett, and Ms. Jackson Lee), H637 [14FE] Cosponsors added, H774 [29FE], H3400 [21MY] H.R. 7355 — A bill to direct the Secretary of Education, in coordination with the Secretary of Health and Human Services, to award competitive grants to eligible partnerships to establish, expand, or support career and technical education programs of study in early childhood education; to the Committee on Education and the Workforce. By Ms. KUSTER (for herself, Ms. Bonamici, Mrs. Chavez-DeRemer, and Mr. Lawler), H637 [14FE] Cosponsors added, H1034 [7MR], H2143 [5AP] H.R. 7356 — A bill to require Members of Congress who advocate for providing military support for Ukraine to enlist in the Armed Forces and to serve on active duty in support of a contingency operation; to the Committee on House Administration, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. LUNA (for herself and Ms. Greene of Georgia), H637 [14FE] H.R. 7357 — A bill to allow certain funds provided in response to the public health emergency with respect to COVID-19 to be made available for school security measures, and for other purposes; to the Committee on Oversight and Accountability. By Mrs. MILLER-MEEKS (for herself and Mr. Guest), H637 [14FE] Cosponsors added, H774 [29FE] H.R. 7358 — A bill to provide for a limitation on funds to implement, administer, or enforce certain general licenses issued by the Office of Foreign Assets Control of the Department of the Treasury; to the Committee on Foreign Affairs. By Mr. OGLES, H637 [14FE] H.R. 7359 — A bill to provide a framework for the Bureau of Consumer Financial Protection and the Department of Education to coordinate in providing assistance to and serving borrowers seeking to resolve complaints related to their private education or Federal student loans, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. PORTER (for herself, Ms. Bonamici, Mr. Sarbanes, and Mrs. Hayes), H638 [14FE] Cosponsors added, H1190 [15MR] H.R. 7360 — A bill to amend the Internal Revenue Code of 1986 to increase and make fully refundable the Child and Dependent Care Tax Credit, to increase the maximum amount excludable from gross income for employer-provided dependent care assistance, and for other purposes; to the Committee on Ways and Means. By Ms. TENNEY (for herself and Mr. Schneider), H638 [14FE] Cosponsors added, H2702 [29AP] H.R. 7361 — A bill to establish a flower ordering program for gravesites under the purview of the American Battle Monuments Commission; to the Committee on Veterans’ Affairs. By Mr. ZINKE (for himself, Mr. Thompson of California, Mr. Valadao, Mr. Davis of North Carolina, Mr. Waltz, Mr. Bishop of Georgia, Mr. Kelly of Mississippi, Mr. Cuellar, Mrs. Bice, Ms. Norton, Mr. Fleischmann, Mr. McCormick, Mrs. Miller-Meeks, Mr. Bacon, Mr. Guest, Mr. Baird, Mr. Higgins of Louisiana, Mr. Nehls, Mr. Van Drew, Mr. Newhouse, Mr. Ciscomani, Mr. Armstrong, Mrs. Chavez-DeRemer, Mr. Mooney, Mr. Dunn of Florida, Mr. Barr, Mr. Jackson of Texas, Mr. Van Orden, Ms. Mace, Mr. Ezell, Mr. Self, Mr. Mills, Mr. Edwards, Mr. Rutherford, Mr. Calvert, Mr. Kelly of Pennsylvania, Mr. Clyde, Mrs. Kiggans of Virginia, Mr. Kean of New Jersey, Mr. Stauber, Mr. Moolenaar, and Mr. Lawler), H638 [14FE] Cosponsors added, H681 [15FE], H739 [28FE], H774 [29FE], H1058 [8MR], H1150 [12MR], H2522 [18AP], H3583 [3JN], H3727 [11JN] H.R. 7362 — A bill to establish cooperative agreements for wildland fire research, and for other purposes; to the Committee on Agriculture. By Ms. BONAMICI (for herself, Mr. Newhouse, Mr. Duarte, Ms. Tokuda, Mr. Valadao, and Mr. Curtis), H677 [15FE] H.R. 7363 — A bill to amend the Federal Land Policy and Management Act of 1976 to authorize the sale of certain Federal land to States and units of local government to address housing shortages, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Financial Services, Transportation and Infrastructure, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CURTIS, H677 [15FE] H.R. 7364 — A bill to prohibit a person from advertising for sale a product produced or manufactured using the forced labor of individuals in the People’s Republic of China, and for other purposes; to the Committee on Energy and Commerce. By Mr. CURTIS, H677 [15FE] H.R. 7365 — A bill to provide PreCheck to certain severely injured or disabled veterans, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOSAR (for himself, Mr. Waltz, Mr. LaMalfa, Ms. Houlahan, Mr. Biggs, Mr. Moulton, Mr. Norman, Ms. Brownley, Ms. Slotkin, Mrs. Rodgers of Washington, Mr. Kilmer, Mr. Van Drew, Mr. Mills, Mrs. Harshbarger, Ms. Budzinski, Mr. Mast, Mrs. Steel, Mr. Thompson of California, Mr. Kelly of Mississippi, Mr. Connolly, Ms. Stefanik, Mr. Gallagher, Mrs. Lesko, Ms. Blunt Rochester, Mr. Steube, Mr. Crenshaw, Mrs. Luna, and Mr. Gottheimer), H677 [15FE] Cosponsors added, H688 [20FE], H694 [23FE], H739 [28FE], H774 [29FE], H825 [5MR], H1001 [6MR], H1094 [11MR], H1237 [19MR] H.R. 7366 — A bill to require timely publication of CBP border encounters, and for other purposes; to the Committee on Homeland Security. By Mrs. BICE (for herself, Mr. Crenshaw, Mr. Walberg, Mr. Baird, Mr. Rose, Ms. Foxx, Mr. Fleischmann, Mr. Fulcher, Mr. Moylan, Mr. Waltz, Mr. Smith of Nebraska, Mr. Yakym, Mr. Rutherford, Mr. McCormick, Mr. Nehls, Mrs. Houchin, Mr. Lawler, Mr. Armstrong, Mr. Biggs, Mr. Bean of Florida, Mr. Cole, Mr. Babin, and Mr. Posey), H677 [15FE] Cosponsors added, H688 [20FE], H1237 [19MR], H2254 [9AP], H3675 [5JN] H.R. 7367 — A bill to prohibit the Secretary of Labor from finalizing, implementing, or enforcing a proposed rule with respect to the salary threshold for overtime eligibility; to the Committee on Education and the Workforce. By Mr. BURLISON, H677 [15FE] Cosponsors added, H694 [23FE], H774 [29FE], H1190 [15MR], H1500 [22MR], H2368 [12AP] H.R. 7368 — A bill to amend title XVIII of the Social Security Act to provide for the application of Medicare secondary payer rules to certain workers’ compensation settlement agreements and qualified Medicare set-aside provisions; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CAREY (for himself and Mr. Thompson of California), H677 [15FE] H.R. 7369 — A bill to provide U.S. Customs and Border Protection with adequate flexibility in its employment authorities; to the Committee on Oversight and Accountability. By Mr. CISCOMANI (for himself and Mr. Stanton), H677 [15FE] Cosponsors added, H694 [23FE] H.R. 7370 — A bill to amend the Geothermal Steam Act of 1970 to establish a deadline for processing applications related to geothermal leasing; to the Committee on Natural Resources. By Mr. CURTIS, H677 [15FE] H.R. 7371 — A bill to designate Ecuador under section 244 of the Immigration and Nationality Act to permit nationals of Ecuador to be eligible for temporary protected status under such section, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ESPAILLAT (for himself, Mr. Bowman, Ms. Norton, Mr. García of Illinois, Mr. McGovern, Ms. Wasserman Schultz, Ms. Meng, Ms. Omar, Ms. Lee of California, and Ms. Schakowsky), H677 [15FE] Cosponsors added, H697 [26FE], H3205 [14MY] H.R. 7372 — A bill making emergency supplemental appropriations to provide defense support to Ukraine, Israel, and Taiwan for the fiscal year ending September 30, 2024, to require the Secretary of Homeland Security to suspend the entry of inadmissible aliens, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZPATRICK (for himself, Mr. Golden of Maine, Mr. Bacon, Mr. Case, Mr. Lawler, and Ms. Perez), H677 [15FE] Cosponsors added, H684 [16FE], H774 [29FE], H1001 [6MR], H2503 [17AP] H.R. 7373 — A bill to direct the Secretary of Health and Human Services, acting through the Director of the Centers for Disease Control and Prevention, to include alpha-gal syndrome on the list of nationally notifiable diseases; to the Committee on Energy and Commerce. By Mr. GARBARINO (for himself, Ms. Spanberger, Mr. Thompson of Pennsylvania, and Ms. Norton), H677 [15FE] Cosponsors added, H774 [29FE], H1094 [11MR], H1237 [19MR], H2938 [7MY] H.R. 7374 — A bill to designate the facility of the United States Postal Service located at 500 Sergeant Gonzales Drive in Fort Davis, Texas, as the ‘‘Sergeant Manuel Sillas Gonzales Post Office’’; to the Committee on Oversight and Accountability. By Mr. TONY GONZALES of Texas (for himself, Mr. Fallon, Mr. Vicente Gonzalez of Texas, Mr. Cloud, Mrs. Fletcher, and Mr. Veasey), H677 [15FE] Cosponsors added, H1237 [19MR], H2319 [11AP] H.R. 7375 — A bill to amend the Mineral Leasing Act to improve the assessment of expression of interest fees, and for other purposes; to the Committee on Natural Resources. By Ms. HAGEMAN, H678 [15FE] H.R. 7376 — A bill to provide that a project for the collocation of a personal wireless service facility is not subject to requirements to prepare certain environmental or historical preservation reviews; to the Committee on Energy and Commerce, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. HARSHBARGER, H678 [15FE] H.R. 7377 — A bill to amend the Federal Oil and Gas Royalty Management Act of 1982 to improve the management of royalties from oil and gas leases, and for other purposes; to the Committee on Natural Resources. By Mr. HUNT (for himself, Mr. Nehls, Mr. Weber of Texas, and Mr. Babin), H678 [15FE] Cosponsors added, H739 [28FE], H825 [5MR], H2399 [15AP] H.R. 7378 — A bill to award posthumously a Congressional Gold Medal to Frederick Douglass in recognition of his contributions to the cause of freedom, human rights, and the abolition of slavery in the United States; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. IVEY (for himself, Mr. Harris, Ms. Adams, Mr. Armstrong, Ms. Barragán, Mrs. Beatty, Ms. Brown, Mr. Carbajal, Mr. Carson, Mr. Carter of Louisiana, Mrs. Cherfilus-McCormick, Ms. Chu, Ms. Clarke of New York, Mr. Correa, Ms. Crockett, Mr. Davis of Illinois, Ms. Escobar, Mr. Espaillat, Mr. Evans, Mr. Fitzpatrick, Mrs. Foushee, Mr. Goldman of New York, Mr. Gottheimer, Mr. Green of Texas, Mr. Horsford, Mr. Hoyer, Ms. Jackson Lee, Mr. Johnson of Georgia, Ms. Kelly of Illinois, Mr. Khanna, Mr. Kim of New Jersey, Ms. Kuster, Mr. Lawler, Ms. Lee of California, Ms. McClellan, Mr. Mfume, Ms. Moore of Wisconsin, Mr. Mullin, Mrs. Napolitano, Ms. Norton, Ms. Ocasio-Cortez, Ms. Plaskett, Ms. Pressley, Mr. Raskin, Mr. Ruppersberger, Ms. Salazar, Ms. Salinas, Ms. Sánchez, Ms. Schakowsky, Mr. Schiff, Mr. Scott of Virginia, Ms. Sewell, Mr. Smith of New Jersey, Ms. Stevens, Mr. Thanedar, Ms. Titus, Ms. Tlaib, Mr. Trone, Mr. Vargas, Mrs. Watson Coleman, Ms. Williams of Georgia, Ms. Wilson of Florida, and Ms. Davids of Kansas), H678 [15FE] Cosponsors added, H694 [23FE], H739 [28FE], H774 [29FE], H825 [5MR], H1035 [7MR], H2291 [10AP], H3400 [21MY], H3543 [31MY], H3682 [7JN], H3727 [11JN], H3976 [12JN], H4064 [13JN], H4110 [14JN], H4115 [18JN] H.R. 7379 — A bill to amend title XXX of the Public Health Service Act to establish standards and protocols to improve patient matching; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KELLY of Pennsylvania (for himself and Mr. Foster), H678 [15FE] Cosponsors added, H1150 [12MR], H2254 [9AP], H2771 [30AP], H3486 [22MY], H3675 [5JN], H3727 [11JN] H.R. 7380 — A bill to amend the Federal Food, Drug, and Cosmetic Act to clarify and update the authority of the Food and Drug Administration to ensure national uniformity in the regulation of the marketing and labeling of companion animal pet food, and for other purposes; to the Committee on Energy and Commerce. By Mr. LaTURNER (for himself, Mr. Cuellar, Mr. Womack, Ms. Davids of Kansas, and Mr. Harder of California), H678 [15FE] Cosponsors added, H775 [29FE], H2368 [12AP], H2636 [26AP], H2831 [1MY], H2939 [7MY], H3526 [23MY] H.R. 7381 — A bill to direct the Director of the National Institutes of Health to establish a grant program to facilitate research regarding the use of generative artificial intelligence in health care, and for other purposes; to the Committee on Energy and Commerce. By Mr. LIEU, H678 [15FE] Cosponsors added, H3535 [28MY] H.R. 7382 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to include an additional permissible use of amounts provided as grants under the Byrne JAG program, and for other purposes; to the Committee on the Judiciary. By Mr. LUTTRELL (for himself, Mr. McCaul, Mrs. Wagner, Mrs. Chavez-DeRemer, Ms. Salazar, Mr. Bacon, Ms. Mace, Mrs. Miller-Meeks, Mrs. González-Colón, Mr. Crenshaw, Mr. Stauber, and Mr. Ellzey), H678 [15FE] Cosponsors added, H739 [28FE], H1035 [7MR] H.R. 7383 — A bill to amend the Federal Food, Drug, and Cosmetic Act to set forth limitations on exclusive approval or licensure of drugs designated for rare diseases or conditions; to the Committee on Energy and Commerce. By Ms. MATSUI (for herself and Mr. Bilirakis), H678 [15FE] Cosponsors added, H825 [5MR] H.R. 7384 — A bill to amend the Federal Food, Drug, and Cosmetic Act to extend the authority of the Secretary of Health and Human Services to issue priority review vouchers to encourage treatments for rare pediatric diseases; to the Committee on Energy and Commerce. By Mr. McCAUL (for himself, Ms. Eshoo, Mr. Bilirakis, Ms. Barragán, Mrs. Trahan, and Mr. Burgess), H678 [15FE] Cosponsors added, H697 [26FE], H739 [28FE], H775 [29FE], H782 [1MR], H825 [5MR], H1058 [8MR], H1150 [12MR], H1182 [13MR], H1190 [15MR], H1237 [19MR], H2121 [26MR], H2130 [29MR], H2254 [9AP], H3000 [8MY], H3205 [14MY], H3275 [15MY], H3400 [21MY], H3526 [23MY], H3531 [24MY], H3682 [7JN], H3727 [11JN], H3976 [12JN], H4115 [18JN] H.R. 7385 — A bill to designate the facility of the United States Postal Service located at 29 Franklin Street in Petersburg, Virginia, as the ‘‘John Mercer Langston Post Office Building’’; to the Committee on Oversight and Accountability. By Ms. McCLELLAN (for herself, Mr. Beyer, Mr. Cline, Mr. Connolly, Mr. Good of Virginia, Mr. Griffith, Mrs. Kiggans of Virginia, Mr. Scott of Virginia, Ms. Spanberger, Ms. Wexton, and Mr. Wittman), H678 [15FE] H.R. 7386 — A bill to establish a grant program to support career and technical education schools in their efforts to advocate for career and technical education programs and promote public awareness thereof; to the Committee on Education and the Workforce. By Mr. MILLER of Ohio, H678 [15FE] H.R. 7387 — A bill to reiterate the support of the Congress of the United States for the North Atlantic Treaty Organization, and for other purposes; to the Committee on Foreign Affairs. By Mr. PANETTA, H678 [15FE] Cosponsors added, H825 [5MR] H.R. 7388 — A bill to amend title 38, United States Code, to increase the maximum guaranty amount for loans made to certain veterans under the laws administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. PORTER (for herself, Mr. Kelly of Mississippi, Mr. Fitzpatrick, and Ms. Brownley), H678 [15FE] Cosponsors added, H825 [5MR], H4115 [18JN] H.R. 7389 — A bill to amend the Help America Vote Act of 2002 to increase voting accessibility for individuals with disabilities and older individuals, and for other purposes; to the Committee on House Administration. By Ms. SCANLON (for herself, Ms. Dean of Pennsylvania, and Mr. Raskin), H678 [15FE] Cosponsors added, H1500 [22MR] H.R. 7390 — A bill to make price gouging unlawful, to expand the ability of the Federal Trade Commission to seek permanent injunctions and equitable relief, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SCHAKOWSKY (for herself, Mr. Nadler, Mr. Khanna, Ms. Porter, Ms. Norton, Mr. Johnson of Georgia, Mr. Tonko, Ms. Scanlon, and Mr. Takano), H678 [15FE] Cosponsors added, H2623 [20AP], H2771 [30AP], H3206 [14MY], H3331 [16MY], H3657 [4JN], H4064 [13JN] H.R. 7391 — A bill to require the Secretary of Agriculture to carry out a study and research and demonstration on agrivoltaic systems and to issue guidance on best practices for protection of soil health and productivity during the siting, construction, operation, and decommissioning of solar energy systems on agricultural land; to the Committee on Agriculture. By Mr. SORENSEN (for himself, Ms. Pingree, and Ms. Crockett), H678 [15FE] Cosponsors added, H1150 [12MR] H.R. 7392 — A bill to reprogram Federal funds appropriated for UNRWA to construct the southwest border wall and to prohibit future funding for UNRWA; to the Committee on Appropriations, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. STEUBE (for himself, Mr. Ogles, Mr. Weber of Texas, Mr. Nehls, Mr. Posey, and Mr. Duncan), H678 [15FE] Cosponsors added, H697 [26FE] H.R. 7393 — A bill to amend the Internal Revenue Code of 1986 to provide a refundable credit for certain home accessibility improvements; to the Committee on Ways and Means. By Ms. STEVENS, H678 [15FE] H.R. 7394 — A bill to prohibit the use of trade secrets privileges to prevent defense access to evidence in criminal proceedings, provide for the establishment of Computational Forensic Algorithm Testing Standards and a Computational Forensic Algorithm Testing Program, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TAKANO (for himself and Mr. Evans), H678 [15FE] H.R. 7395 — A bill to amend the Elementary and Secondary Education Act of 1965 to expand career counseling opportunities within student support and academic enrichment grants; to the Committee on Education and the Workforce. By Mr. THOMPSON of Pennsylvania (for himself and Ms. Bonamici), H678 [15FE] Cosponsors added, H825 [5MR] H.R. 7396 — A bill to direct the Attorney General to conduct a study on animal cruelty, and for other purposes; to the Committee on the Judiciary. By Ms. TITUS (for herself, Mr. Buchanan, Ms. Moore of Wisconsin, Mr. Fitzpatrick, Mr. Joyce of Ohio, and Mrs. Trahan), H678 [15FE] H.R. 7397 — A bill to amend title XVIII of the Social Security Act to establish a definition of essential health system in statute; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. TRAHAN (for herself and Mr. Valadao), H678 [15FE] Cosponsors added, H688 [20FE], H775 [29FE], H825 [5MR], H1035 [7MR], H1150 [12MR], H1237 [19MR], H2368 [12AP], H2636 [26AP] H.R. 7398 — A bill to ensure the ability of public safety officers to retain their right to free speech on matters related to public safety, working conditions, and other matters; to the Committee on the Judiciary. By Mr. VAN DREW (for himself and Mr. Cohen), H678 [15FE] Cosponsors added, H825 [5MR], H1035 [7MR], H1094 [11MR], H2254 [9AP], H2319 [11AP], H3727 [11JN] H.R. 7399 — A bill to terminate the American Community Survey, and for other purposes; to the Committee on Oversight and Accountability. By Mr. VAN DREW (for himself, Mr. Duncan, and Mr. Smith of Nebraska), H679 [15FE] H.R. 7400 — A bill to amend the Internal Revenue Code of 1986 to provide individuals a refundable credit for a portion of Federal income tax liability for 2024; to the Committee on Ways and Means. By Mr. VASQUEZ, H679 [15FE] H.R. 7401 — A bill to amend title 10, United States Code, to establish a goal for the Department of Defense for participation by certain veteran-owned small businesses in procurement contracts, and for other purposes; to the Committee on Armed Services. By Mr. WALTZ (for himself and Mr. Panetta), H679 [15FE] Cosponsors added, H2319 [11AP], H2445 [16AP], H2939 [7MY], H3000 [8MY], H3206 [14MY], H3331 [16MY] H.R. 7402 — A bill to reimburse the State of Texas for expenses incurred for activities conducted relating to securing the southern international border of the United States, and for other purposes; to the Committee on the Judiciary. By Mr. WILLIAMS of Texas, H679 [15FE] Cosponsors added, H688 [20FE], H694 [23FE] H.R. 7403 — A bill to specify when the record is complete on certain acquisition applications related to depository institution holding companies, and for other purposes; to the Committee on Financial Services. By Mr. BARR (for himself and Mr. Fitzgerald), H684 [16FE] Cosponsors added, H3000 [8MY] H.R. 7404 — A bill to require annual reports on counter illicit cross-border tunnel operations, and for other purposes; to the Committee on Homeland Security. By Mr. CRANE (for himself, Mr. Correa, Mr. Biggs, Mr. Duncan, Mr. Gosar, Mr. Guest, Mr. Higgins of Louisiana, Mr. Luttrell, Mr. McCaul, and Mr. Ogles), H684 [16FE] Cosponsors added, H694 [23FE], H697 [26FE], H775 [29FE], H2254 [9AP] Reported (H. Rept. 118–543), H3678 [7JN] H.R. 7405 — A bill to amend title 10, United States Code, to prohibit the exclusion of an individual from assignment to a medical personnel position of the Armed Forces on the basis of the amputation of the individual, and for other purposes; to the Committee on Armed Services. By Mrs. RODGERS of Washington, H684 [16FE] Cosponsors added, H2939 [7MY] H.R. 7406 — A bill to amend the Public Health Service Act to authorize the Secretary of Health and Human Services to carry out a program of research, training, and investigation related to Down syndrome, and for other purposes; to the Committee on Energy and Commerce. By Mrs. RODGERS of Washington (for herself, Ms. DeGette, Mr. Cole, Ms. Norton, Ms. DeLauro, and Mr. Stauber), H684 [16FE] Cosponsors added, H2254 [9AP] Reported with amendment (H. Rept. 118–504), H3201 [14MY] H.R. 7407 — A bill to amend the Internal Revenue Code of 1986 to provide a credit to certain small employers for the startup costs of dependent care flexible spending plans; to the Committee on Ways and Means. By Mr. SMITH of Nebraska (for himself, Mr. Davis of Illinois, and Mr. Feenstra), H684 [16FE] H.R. 7408 — A bill to amend the Pittman-Robertson Wildlife Restoration Act to make supplemental funds available for management of fish and wildlife species of greatest conservation need as determined by State fish and wildlife agencies, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WESTERMAN (for himself, Mr. Bentz, Ms. Hageman, Mr. Stauber, Mr. Curtis, Mr. Carl, Mr. Lamborn, Ms. Boebert, Mrs. Kiggans of Virginia, Mr. LaMalfa, Mr. Newhouse, Mrs. Radewagen, Mr. Moylan, Mrs. González-Colón, Ms. Maloy, Mr. Carter of Georgia, Mr. Zinke, Mr. Smith of Nebraska, and Mr. Wittman), H685 [20FE] Cosponsors added, H694 [23FE], H775 [29FE], H1190 [15MR] H.R. 7409 — A bill to amend the Geothermal Steam Act of 1970 to waive the requirement for a Federal drilling permit for certain activities, to exempt certain activities from the requirements of the National Environmental Policy Act of 1969, and for other purposes; to the Committee on Natural Resources. By Mrs. KIM of California (for herself and Mr. Duarte), H685 [20FE] Cosponsors added, H3400 [21MY] H.R. 7410 — A bill to amend part A of title IV of the Social Security Act to establish deadlines for the obligation and expenditure of funds and allow States to establish rainy day funds under the program of block grants to States for temporary assistance for needy families; to the Committee on Ways and Means. By Mr. CAREY, H686 [20FE] H.R. 7411 — A bill to amend the National Defense Authorization Act for fiscal year 2020 to improve reviews of characterizations of discharges of members of the Armed Forces on the basis of sexual orientation; to the Committee on Armed Services. By Mrs. CHAVEZ-DeREMER (for herself, Mr. Ciscomani, Mr. Van Orden, Mr. Miller of Ohio, Mr. Turner, Ms. Malliotakis, Mr. Duarte, Mr. Carey, Mr. Amodei, Mr. Calvert, Mr. Garbarino, Mrs. Cammack, and Ms. Mace), H686 [20FE] Cosponsors added, H694 [23FE], H1058 [8MR], H2368 [12AP] H.R. 7412 — A bill to facilitate the use of rural housing vouchers; to the Committee on Financial Services. By Ms. CROCKETT (for herself, Mr. Jackson of Illinois, and Ms. Salinas), H686 [20FE] Cosponsors added, H739 [28FE], H2254 [9AP] H.R. 7413 — A bill to amend the Help America Vote Act of 2002 to direct the Election Assistance Commission to conduct ongoing studies of State programs for recruiting poll workers and providing poll workers with safety training in order to identify voluntary considerations for carrying out such programs, and for other purposes; to the Committee on House Administration. By Mr. D’ESPOSITO (for himself and Mr. Lawler), H686 [20FE] Cosponsors added, H739 [28FE], H2319 [11AP] H.R. 7414 — A bill to require the development of a national strategy to secure schools against terrorism nationwide, and ensure domestic preparedness for and the response to terrorism, and for other purposes; to the Committee on Homeland Security. By Mr. TONY GONZALES of Texas (for himself and Mr. Gottheimer), H686 [20FE] H.R. 7415 — A bill to reauthorize the State Criminal Alien Assistance Program, and for other purposes; to the Committee on the Judiciary. By Mr. TONY GONZALES of Texas, H686 [20FE] H.R. 7416 — A bill to address food and housing insecurity on college campuses; to the Committee on Education and the Workforce. By Mrs. HAYES (for herself, Ms. Stansbury, Ms. Plaskett, Ms. Norton, Mr. Johnson of Georgia, Mr. Grijalva, Ms. Crockett, Mr. Bishop of Georgia, Ms. Velázquez, Mr. Davis of Illinois, Mr. Cohen, Ms. Tokuda, Mr. Jackson of Illinois, Ms. Lee of California, Mr. Thompson of California, Ms. Brown, Ms. Adams, Mr. Takano, Mrs. Watson Coleman, Ms. Scanlon, Mrs. Ramirez, Mr. McGovern, Mr. Khanna, Mr. Ivey, and Ms. Jackson Lee), H686 [20FE] Cosponsors added, H3206 [14MY] H.R. 7417 — A bill to designate the facility of the United States Postal Service located at 135 West Spring Street in Titusville, Pennsylvania, as the ‘‘Edwin L. Drake Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. KELLY of Pennsylvania (for himself, Mr. Fitzpatrick, Mr. Meuser, Mr. Reschenthaler, Mr. Smucker, Mr. Joyce of Pennsylvania, Mr. Cartwright, Ms. Dean of Pennsylvania, Ms. Houlahan, Mr. Deluzio, Mr. Boyle of Pennsylvania, Mr. Thompson of Pennsylvania, Mr. Perry, Ms. Scanlon, and Ms. Wild), H686 [20FE] Cosponsors added, H694 [23FE] Rules suspended. Passed House, H3563 [3JN] Text, H3563 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 7418 — A bill to amend the Internal Revenue Code of 1986 to exclude from gross income certain compensation to clinical trial participants; to the Committee on Ways and Means. By Mr. KELLY of Pennsylvania (for himself and Ms. Houlahan), H686 [20FE] Cosponsors added, H2254 [9AP] H.R. 7419 — A bill to require the Secretary of Defense to submit a report on the quality of overseas covered military unaccompanied housing, and for other purposes; to the Committee on Armed Services. By Mrs. KIGGANS of Virginia (for herself and Ms. Jacobs), H686 [20FE] H.R. 7420 — A bill to establish or modify requirements relating to minority depository institutions, community development financial institutions, and impact banks, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MEEKS (for himself, Mr. Green of Texas, Mr. Cleaver, Mrs. Beatty, and Mr. David Scott of Georgia), H686 [20FE] H.R. 7421 — A bill to amend Public Law 87-788 (commonly known as the McIntire-Stennis Cooperative Forestry Act; 16 U.S.C. 582a-7) to provide for equal treatment of the District of Columbia with respect to funds made available under that Act; to the Committee on Agriculture. By Ms. NORTON, H686 [20FE] H.R. 7422 — A bill to amend the Geothermal Steam Act of 1970 to provide cost-recovery authority for the Department of the Interior; to the Committee on Natural Resources. By Ms. OCASIO-CORTEZ, H686 [20FE] H.R. 7423 — A bill to designate the facility of the United States Postal Service located at 103 Benedette Street in Rayville, Louisiana, as the ‘‘Luke Letlow Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. SCALISE (for himself, Ms. Letlow, Mr. Johnson of Louisiana, Mr. Higgins of Louisiana, Mr. Carter of Louisiana, and Mr. Graves of Louisiana), H686 [20FE] Text, H2855 [6MY] Rules suspended. Passed House, H2909 [7MY] Message from the House, S3593 [8MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3593 [8MY] H.R. 7424 — A bill to direct the Secretary of Transportation and the Secretary of Energy to jointly conduct a study on the development of facilities for solar energy generation, solar energy storage, and solar energy transmission or distribution on available Federal land adjacent to the National Highway System, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. SCHIFF (for himself, Mr. Cleaver, Ms. Norton, Mr. Johnson of Georgia, Mr. Carson, Mr. Peters, Ms. Tlaib, Mr. Ruiz, Ms. Salinas, Ms. Lee of California, and Mr. Trone), H686 [20FE] Cosponsors added, H694 [23FE], H697 [26FE], H775 [29FE] H.R. 7425 — A bill to amend the Internal Revenue Code of 1986 to provide a deduction for certain newborn expenses; to the Committee on Ways and Means. By Mr. SCHWEIKERT, H686 [20FE] H.R. 7426 — A bill to amend part A of title IV of the Social Security Act to target funds to families in need; to the Committee on Ways and Means. By Mr. SMITH of Nebraska, H686 [20FE] H.R. 7427 — A bill to amend part A of title IV of the Social Security Act to clarify the longstanding authority of States to use funds made available under the Temporary Assistance for Needy Families program to fund life-affirming services to empower pregnant women to choose life for their babies instead of abortion, and for other purposes; to the Committee on Ways and Means. By Mr. SMITH of New Jersey (for himself, Mrs. Hinson, Mrs. Lesko, Mrs. Miller of Illinois, Mr. Harris, Mr. Guest, Mr. Baird, Mr. Banks, Mr. Crenshaw, Mr. Joyce of Pennsylvania, Mr. Kelly of Mississippi, Mr. Mann, Mr. Mooney, Mr. Moore of Utah, Mr. Self, and Mr. Timmons), H686 [20FE] H.R. 7428 — A bill to regulate the business of offering and providing earned wage access services to consumers, and for other purposes; to the Committee on Financial Services. By Mr. STEIL (for himself and Mr. Hill), H686 [20FE] Cosponsors added, H739 [28FE], H775 [29FE], H825 [5MR], H2445 [16AP] H.R. 7429 — A bill to amend the National Highway System Designation Act of 1995 to permit the construction of certain noise barriers with funds from the Highway Trust Fund, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. WILLIAMS of Georgia (for herself and Mr. Himes), H686 [20FE] H.R. 7430 — A bill to prohibit the Secretary of the Interior and the Secretary of Agriculture from transferring certain Federal land, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ZINKE (for himself and Mr. Vasquez), H686 [20FE] H.R. 7431 — A bill to amend part A of title IV of the Social Security Act to measure improper payments and establish goals for eliminating fraud and improper payments under the program of block grants to States for temporary assistance for needy families, and for other purposes; to the Committee on Ways and Means. By Mr. ARRINGTON, H691 [23FE] Cosponsors added, H1355 [21MR] H.R. 7432 — A bill to amend title XIX of the Social Security Act to enable State Medicaid programs to provide comprehensive, coordinated care through a health home to individuals with sickle cell disease; to the Committee on Energy and Commerce. By Mr. BURGESS (for himself and Mr. Davis of Illinois), H691 [23FE] Cosponsors added, H1150 [12MR] H.R. 7433 — A bill to amend the Homeland Security Act of 2002 to establish a transnational repression hotline and conduct a transnational repression public service announcement campaign, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. D’ESPOSITO (for himself, Mr. Magaziner, and Mr. Pfluger), H691 [23FE] Cosponsors added, H775 [29FE], H825 [5MR], H2130 [29MR] H.R. 7434 — A bill to ensure that only licensed health care professionals furnish disability examinations under a certain Department of Veterans Affairs pilot program for use of contract physicians for disability examinations, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. FINSTAD (for himself, Mr. Wittman, Mr. LaLota, Mr. Van Drew, and Mr. Mast), H691 [23FE] Cosponsors added, H697 [26FE], H739 [28FE], H775 [29FE], H825 [5MR], H2136 [2AP], H2254 [9AP], H2445 [16AP], H3331 [16MY] H.R. 7435 — A bill to amend the Internal Revenue Code of 1986 to establish a program to populate downloadable tax forms with taxpayer return information; to the Committee on Ways and Means. By Mr. FOSTER (for himself and Mr. Blumenauer), H691 [23FE] H.R. 7436 — A bill to direct the Comptroller General of the United States to prepare a report on Federal efforts to address antimicrobial resistance; to the Committee on Energy and Commerce. By Mr. GRIFFITH, H691 [23FE] H.R. 7437 — A bill to require certain supervisory agencies to assess their technological vulnerabilities, and for other purposes; to the Committee on Financial Services. By Mrs. HOUCHIN (for herself, Mr. Foster, and Mr. Hill), H691 [23FE] Cosponsors added, H697 [26FE] H.R. 7438 — A bill to require the Secretary of the Treasury to mint coins in commemoration of the FIFA World Cup 2026, and for other purposes; to the Committee on Financial Services. By Mr. LaHOOD (for himself, Mr. Larsen of Washington, Mr. Bacon, and Ms. Castor of Florida), H691 [23FE] Cosponsors added, H697 [26FE], H739 [28FE], H1094 [11MR], H1150 [12MR], H1190 [15MR], H1298 [20MR], H2136 [2AP], H2143 [5AP], H2291 [10AP], H2368 [12AP], H2445 [16AP], H2503 [17AP], H2702 [29AP], H2771 [30AP], H2831 [1MY], H2876 [6MY], H2939 [7MY], H3206 [14MY], H3275 [15MY], H3331 [16MY], H3400 [21MY], H3486 [22MY], H3531 [24MY], H3583 [3JN], H3657 [4JN], H3675 [5JN], H3727 [11JN], H3976 [12JN], H4064 [13JN], H4110 [14JN], H4115 [18JN] H.R. 7439 — A bill to amend the Homeland Security Act of 2002 to require the Secretary of Homeland Security to prioritize strengthening of State and local law enforcement capabilities to combat transnational repression and related terrorism threats, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MAGAZINER (for himself, Mr. D’Esposito, Mr. Pfluger, and Mr. Goldman of New York), H691 [23FE] H.R. 7440 — A bill to promote innovation in financial services, and for other purposes; to the Committee on Financial Services. By Mr. McHENRY, H691 [23FE] Cosponsors added, H825 [5MR], H2503 [17AP] H.R. 7441 — A bill to amend part A of title IV of the Social Security Act to set aside funds expended under the program of block grants to States for temporary assistance for needy families, for core work purposes; to the Committee on Ways and Means. By Mr. MOORE of Utah, H691 [23FE] H.R. 7442 — A bill to direct the Comptroller General of the United States to conduct a study to assess the feasibility and financial effects of expanding coverage under the Medicare program to items and services furnished in the Philippines; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOYLAN (for himself and Mr. Sablan), H691 [23FE] Cosponsors added, H739 [28FE], H2254 [9AP], H2876 [6MY], H3400 [21MY], H3535 [28MY], H4115 [18JN] H.R. 7443 — A bill to authorize a dedicated transnational repression office within the Department of Homeland Security’s Homeland Security Investigations to analyze and monitor transnational repression and related terrorism threats and require Homeland Security Investigations to take actions to prevent transnational repression; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PFLUGER (for himself and Mr. Magaziner), H691 [23FE] Cosponsors added, H697 [26FE], H775 [29FE] H.R. 7444 — A bill to authorize the Secretary of Agriculture to provide rural partnership program grants and rural partnership technical assistance grants, and for other purposes; to the Committee on Agriculture. By Ms. SALINAS (for herself and Mr. Valadao), H691 [23FE] Cosponsors added, H2629 [23AP] H.R. 7445 — A bill to prohibit the Administrator of the Federal Aviation Administration from authorizing airport space to house undocumented migrants, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. SELF (for himself, Mr. Babin, Mr. Perry, Ms. Malliotakis, Ms. Hageman, Mr. Feenstra, Ms. Mace, Mrs. Hinson, Mr. Bishop of North Carolina, Mr. Rosendale, Mrs. Miller of Illinois, Mr. Tiffany, Mr. Weber of Texas, Ms. Boebert, and Mr. Davidson), H692 [23FE] Cosponsors added, H739 [28FE], H775 [29FE] H.R. 7446 — A bill to amend part A of title IV of the Social Security Act to allow States to transfer a limited amount of funds provided under the program of block grants to States for temporary assistance for needy families, for use under title I of the Workforce Innovation and Opportunity Act; to the Committee on Ways and Means. By Mr. SMUCKER (for himself and Mr. Wenstrup), H692 [23FE] H.R. 7447 — A bill to amend the Help America Vote Act of 2002 to require the Election Assistance Commission to provide for the conduct of penetration testing as part of the testing and certification of voting systems and to provide for the establishment of an Independent Security Testing and Coordinated Vulnerability Disclosure Pilot Program for Election Systems; to the Committee on House Administration, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SPANBERGER (for herself and Mr. Valadao), H692 [23FE] Cosponsors added, H775 [29FE] H.R. 7448 — A bill to direct the Commandant of the Coast Guard to implement a restructuring plan in San Pedro Bay, and for other purposes; to the Committee on Transportation and Infrastructure. By Mrs. STEEL, H692 [23FE] Cosponsors added, H1035 [7MR] H.R. 7449 — A bill to amend part A of title IV of the Social Security Act to limit the percentage of funds made available for the program of block grants to States for temporary assistance for needy families that may be used for administrative expenses, and for other purposes; to the Committee on Ways and Means. By Mrs. STEEL, H692 [23FE] H.R. 7450 — A bill to prohibit payment card networks and covered entities from requiring the use of or assigning merchant category codes that distinguish a firearms retailer from general-merchandise retailer or sporting-goods retailer, and for other purposes; to the Committee on Financial Services. By Ms. STEFANIK (for herself, Mr. Barr, and Mr. Hudson), H692 [23FE] Cosponsors added, H739 [28FE], H1001 [6MR], H1035 [7MR], H1094 [11MR], H1190 [15MR], H1355 [21MR], H2291 [10AP], H2319 [11AP], H2629 [23AP], H2702 [29AP], H2831 [1MY], H2939 [7MY], H3000 [8MY], H3206 [14MY], H3486 [22MY], H3531 [24MY], H3535 [28MY], H3543 [31MY], H3583 [3JN], H3976 [12JN], H4115 [18JN] H.R. 7451 — A bill to establish a pilot program to provide financial and non-financial housing assistance to certain homeless individuals, to provide for a study of the effects of the pilot program, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TLAIB (for herself, Ms. Norton, Ms. Garcia of Texas, Ms. Bush, Ms. Lee of California, and Ms. Schakowsky), H692 [23FE] Cosponsors added, H697 [26FE], H825 [5MR], H1058 [8MR], H2130 [29MR], H2445 [16AP] H.R. 7452 — A bill to direct the Federal Communications Commission to establish a program to make grants to States for the deployment of broadband service in underserved areas by small business broadband providers, and for other purposes; to the Committee on Energy and Commerce. By Mr. VAN DREW, H692 [23FE] H.R. 7453 — A bill to amend the Communications Act of 1934 to prohibit providers of broadband internet access service from increasing rates or enforcing data caps or allowances during an emergency or major disaster, and for other purposes; to the Committee on Energy and Commerce. By Mr. VAN DREW, H692 [23FE] H.R. 7454 — A bill to amend title 49, United States Code, to extend authorizations for the airport improvement program, to amend the Internal Revenue Code of 1986 to extend the funding and expenditure authority of the Airport and Airway Trust Fund, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Ways and Means, Science, Space, and Technology, the Judiciary, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GRAVES of Missouri (for himself and Mr. Larsen of Washington), H695 [26FE] Text, H756 [29FE] Rules suspended. Passed House, H765, H766 [29FE] Message from the House, S1075 [29FE], S2277 [7MR] Amendments, S1089 [29FE] Passed Senate, S2245 [6MR] Message from the Senate, H1011 [7MR] Examined and signed in the House, H1032 [7MR] Examined and signed in the Senate, S2277 [7MR] Presented to the President (March 8, 2024), H1091 [11MR] Approved [Public Law 118–41] (signed March 8, 2024), H1095 [11MR] H.R. 7455 — A bill to amend chapter 8 of title 5, United States Code, to provide for Congressional oversight of agency rulemaking, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. EMMER (for himself, Mrs. Cammack, Mr. Finstad, Mrs. Hinson, Mr. Donalds, Mr. Norman, Mr. Rogers of Alabama, Mr. Reschenthaler, Mrs. Houchin, Mr. Higgins of Louisiana, Mr. Scott Franklin of Florida, Mr. Crenshaw, Mr. Cloud, Mr. Burgess, Mr. Baird, Mr. Bilirakis, Mr. Biggs, Mrs. Fischbach, Mr. Duncan, Ms. Mace, Mr. Weber of Texas, Mr. Van Drew, Mr. Mooney, Mr. Alford, Mr. Ciscomani, Mr. Bean of Florida, Mr. Carter of Georgia, Mr. Williams of New York, Mr. Van Orden, and Mr. Roy), H695 [26FE] Cosponsors added, H739 [28FE], H775 [29FE], H782 [1MR], H1001 [6MR], H1150 [12MR], H1237 [19MR] H.R. 7456 — A bill to create emergency supplemental grants to local agencies for maintenance of operations during periods of increased migration; to the Committee on the Judiciary. By Mr. GALLEGO, H696 [26FE] H.R. 7457 — A bill to direct the Secretary of Education to count months during which Peace Corps volunteers and AmeriCorps members have eligible Federal Direct Loans in deferment or forbearance toward eligibility for public service loan forgiveness, and for other purposes; to the Committee on Education and the Workforce. By Mr. GARAMENDI (for himself, Mr. Lynch, Ms. Norton, Ms. Lofgren, Mr. Carson, Ms. Moore of Wisconsin, Mr. Trone, and Ms. Garcia of Texas), H696 [26FE] Cosponsors added, H825 [5MR], H1058 [8MR], H1094 [11MR], H1237 [19MR], H2399 [15AP] H.R. 7458 — A bill to amend the Internal Revenue Code of 1986 to establish the Made in the USA tax credit; to the Committee on Ways and Means. By Mr. KHANNA (for himself, Mr. Grijalva, and Mr. Krishnamoorthi), H696 [26FE] H.R. 7459 — A bill to amend the Pittman-Robertson Wildlife Restoration Act and the Dingell-Johnson Sport Fish Restoration Act to treat the District of Columbia the same as a State for purposes of such Acts, and for other purposes; to the Committee on Natural Resources. By Ms. NORTON, H696 [26FE] H.R. 7460 — A bill to redesignate the area of Sumner Row on the 1100 block of 16th Street Northwest in Washington, District of Columbia, as ‘‘Alexei Navalny Way’’, and for other purposes; to the Committee on Oversight and Accountability. By Mr. QUIGLEY (for himself and Mr. Fitzpatrick), H696 [26FE] Cosponsors added, H2636 [26AP] H.R. 7461 — A bill to amend the Communications Act of 1934 to prohibit providers of broadband internet access service from charging consumers above certain amounts for certain equipment; to the Committee on Energy and Commerce. By Mr. VAN DREW, H696 [26FE] H.R. 7462 — A bill to require the Government Accountability Office to conduct a study regarding insurance coverage for damages from wildfires, and for other purposes; to the Committee on Financial Services. By Ms. WATERS, H696 [26FE] H.R. 7463 — A bill making further continuing appropriations for fiscal year 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. GRANGER, H737 [28FE] Debated, H759 [29FE] Text, H759 [29FE] Rules suspended. Passed House, H764 [29FE] Debated, S1068 [29FE] Amendments, S1068, S1089 [29FE] Motion to recommit, S1069 [29FE] Motion to recommit rejected, S1070, S1071 [29FE] Passed Senate, S1072 [29FE] Message from the House, S1075 [29FE] Message from the Senate, H777 [1MR] Message from the House (received March 1, 2024 during adjournment), S2210 [5MR] Examined and signed in the House, H777 [1MR] Examined and signed in the Senate (signed March 1, 2024 during adjournment), S2210 [5MR] Presented to the President (March 1, 2024), H818 [5MR] Approved [Public Law 118–40] (signed March 1, 2024) H.R. 7464 — A bill to amend title 38, United States Code, to provide for access standards with respect to the provision by the Department of Veterans Affairs of hospital care, medical services, or extended care services that are applicable to certain veterans with mental disorders; to the Committee on Veterans’ Affairs. By Mr. YAKYM, H737 [28FE] Cosponsors added, H1298 [20MR], H2319 [11AP] H.R. 7465 — A bill to amend the Internal Revenue Code of 1986 to index dependant care assistance programs to inflation; to the Committee on Ways and Means. By Mrs. BICE (for herself, Ms. Sánchez, Mr. Feenstra, Ms. Houlahan, Mr. Moolenaar, and Mr. Torres of New York), H737 [28FE] Cosponsors added, H2254 [9AP], H4110 [14JN] H.R. 7466 — A bill to amend the Legislative Reorganization Act of 1946 to reduce the rates of pay of Members of Congress during a fiscal year if Congress has not agreed to a concurrent resolution on the budget for such fiscal year, to repeal the automatic appropriation of funds for the salaries of Members of Congress, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BURCHETT, H737 [28FE] H.R. 7467 — A bill to amend the Head Start Act to permit some teachers in Early Head Start programs to teach while earning a child development associate credential; to the Committee on Education and the Workforce. By Mr. CISCOMANI (for himself and Ms. Sherrill), H737 [28FE] Cosponsors added, H3000 [8MY] H.R. 7468 — A bill to ensure that United States diplomats and officials of the U.S. Section of the International Boundary and Water Commission are able to advance efforts seeking compliance by the United Mexican States with the 1944 Treaty on Utilization of Waters of the Colorado and Tijuana Rivers and of the Rio Grande; to the Committee on Foreign Affairs. By Ms. De La CRUZ (for herself, Mr. Cuellar, Mr. Weber of Texas, Mr. Self, Mr. Crenshaw, Mr. Jackson of Texas, Mr. Nehls, Ms. Crockett, Mr. Sessions, Mr. Carter of Texas, Ms. Van Duyne, Mr. Vicente Gonzalez of Texas, Mr. Pfluger, Mr. Hunt, Mr. Gooden of Texas, Mr. Tony Gonzales of Texas, Mr. Moran, Mr. Arrington, Ms. Garcia of Texas, Mr. Babin, Mr. McCaul, Mr. Cloud, Mr. Fallon, Mr. Burgess, Mr. Williams of Texas, Mr. Roy, Mr. Ellzey, Ms. Escobar, Mr. Castro of Texas, Mr. Luttrell, Mrs. Fletcher, Mr. Veasey, and Ms. Granger), H737 [28FE] Cosponsors added, H825 [5MR], H1058 [8MR], H1237 [19MR], H2130 [29MR], H4110 [14JN] H.R. 7469 — A bill to designate the facility of the United States Postal Service located at 28 East Airy Street in Norristown, Pennsylvania, as the ‘‘Charles L. Blockson Post Office Building’’; to the Committee on Oversight and Accountability. By Ms. DEAN of Pennsylvania (for herself, Mr. Fitzpatrick, Mr. Kelly of Pennsylvania, Mr. Evans, and Ms. Scanlon), H737 [28FE] Cosponsors added, H1001 [6MR], H1150 [12MR], H1237 [19MR], H2445 [16AP], H2939 [7MY], H3486 [22MY], H3583 [3JN] H.R. 7470 — A bill to amend the Internal Revenue Code of 1986 to treat spaceports like airports for purposes of exempt facility bond rules; to the Committee on Ways and Means. By Mr. DUNN of Florida (for himself, Mr. Carbajal, Mr. Gallagher, Mr. Vasquez, and Mr. Gimenez), H737 [28FE] Cosponsors added, H1237 [19MR], H1500 [22MR], H3007 [10MY], H3526 [23MY], H4115 [18JN] H.R. 7471 — A bill to provide firearm licensees an opportunity to correct statutory and regulatory violations, and for other purposes; to the Committee on the Judiciary. By Mr. ISSA, H737 [28FE] Cosponsors added, H1035 [7MR], H1094 [11MR], H1298 [20MR] H.R. 7472 — A bill to designate the facility of the United States Postal Service located at 835 South 7th Street in Louisville, Kentucky, as the ‘‘Alberta Odell Jones Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. McGARVEY (for himself and Mr. Barr), H737 [28FE] Cosponsors added, H1094 [11MR] H.R. 7473 — A bill to ensure continued appropriations for certain Small Business Administration programs during a Government shutdown in fiscal year 2024, and for other purposes; to the Committee on Appropriations. By Mr. SCHIFF (for himself, Mr. Thanedar, Mrs. Foushee, and Mr. Castro of Texas), H737 [28FE] H.R. 7474 — A bill to direct the Secretary of the Interior to remove the Robert E. Lee Monument at Antietam National Battlefield, and for other purposes; to the Committee on Natural Resources. By Mr. TRONE (for himself, Mr. Hoyer, Mr. Ivey, Mr. Mfume, Mr. Raskin, Mr. Ruppersberger, and Mr. Sarbanes), H737 [28FE] Cosponsors added, H1500 [22MR], H2319 [11AP] H.R. 7475 — A bill to require the GAO to conduct a study detailing the total cost of unused construction materials that were obtained for the construction of a border wall along the United States-Mexico border; to the Committee on Homeland Security. By Ms. VAN DUYNE, H738 [28FE] Cosponsors added, H3206 [14MY] H.R. 7476 — A bill to counter the malign influence and theft perpetuated by the People’s Republic of China and the Chinese Communist Party; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, Rules, the Judiciary, Oversight and Accountability, Energy and Commerce, Intelligence (Permanent Select), Agriculture, Science, Space, and Technology, Natural Resources, Education and the Workforce, Armed Services, Transportation and Infrastructure, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HERN (for himself, Mr. Wilson of South Carolina, Mr. Duncan, Mr. Gooden of Texas, Mr. Curtis, Mrs. McClain, Mr. Higgins of Louisiana, Mrs. Harshbarger, Mr. Burchett, Mrs. Cammack, Ms. Van Duyne, Mr. LaMalfa, Mr. Tiffany, Mr. Pfluger, Mr. Reschenthaler, Mr. Rouzer, Mr. Dunn of Florida, Mr. Fleischmann, Mr. Mooney, Mr. Edwards, Ms. Greene of Georgia, Mr. Collins, Mr. Burlison, Mr. Ellzey, Mr. Mike Garcia of California, Mr. Langworthy, Mr. Babin, Mr. Bean of Florida, Mr. Lamborn, Mr. Webster of Florida, Mr. Baird, Mr. Kelly of Pennsylvania, Mr. Scott Franklin of Florida, Mr. Fulcher, Mr. Ezell, Mr. Fry, Mr. Arrington, Mr. Hill, Mr. Bergman, Mr. Van Drew, and Mr. Moore of Alabama), H770 [29FE] Cosponsors added, H782 [1MR], H2130 [29MR] H.R. 7477 — A bill to require the Secretary of Defense to complete a data matching agreement with the Secretary of Education in order to ensure individuals who are current or former active-duty military service members or civilian employees and are otherwise eligible for assistance under the public service loan forgiveness program have their periods of employment automatically certified and counted towards the public service loan forgiveness program; to the Committee on Armed Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VAN ORDEN (for himself, Mr. Davis of North Carolina, Mr. Peters, and Ms. Stefanik), H770 [29FE] H.R. 7478 — A bill to amend the Higher Education Act of 1965 to require institutions of higher education, as a condition of participation in programs under title IV of such Act, to include a prohibition of antisemitic conduct in all documents relating to student or employee conduct; to the Committee on Education and the Workforce. By Mr. YAKYM, H770 [29FE] Cosponsors added, H1001 [6MR], H2319 [11AP], H2368 [12AP], H2629 [23AP], H2702 [29AP], H2771 [30AP], H2831 [1MY], H3275 [15MY], H3358 [17MY], H3486 [22MY], H3526 [23MY], H3976 [12JN] H.R. 7479 — A bill to authorize certain States to take certain actions on certain Federal land to secure an international border of the United States, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ROUZER (for himself, Mr. McCaul, and Mr. Pfluger), H770 [29FE] Cosponsors added, H2939 [7MY], H3000 [8MY], H3206 [14MY], H3275 [15MY], H3400 [21MY] H.R. 7480 — A bill to amend section 102(a)(20) of the Housing and Community Development Act of 1974 to require the exclusion of service-connected disability compensation when determining whether a person is a person of low and moderate income, a person of low income, or a person of moderate income, and for other purposes; to the Committee on Financial Services. By Ms. De La CRUZ (for herself, Mr. Sherman, Mr. Lawler, Ms. Wild, Mrs. Chavez-DeRemer, Mr. Barr, Mr. Molinaro, Mr. D’Esposito, Mr. Weber of Texas, Mr. Moylan, Mr. Ciscomani, Mr. Yakym, Mr. Cuellar, and Mr. Crenshaw), H770 [29FE] Cosponsors added, H3206 [14MY], H3275 [15MY], H3331 [16MY], H3535 [28MY], H3727 [11JN], H4115 [18JN] H.R. 7481 — A bill to authorize the Director of the Centers for Disease Control and Prevention to carry out a Social Determinants of Health Program, and for other purposes; to the Committee on Energy and Commerce. By Ms. BARRAGÁN (for herself, Ms. Lee of California, Mr. Ruiz, Mr. Cohen, Mr. Grijalva, Mr. Morelle, Ms. Bonamici, Mr. Cárdenas, Ms. Castor of Florida, Mr. Sablan, Ms. Norton, Ms. Jackson Lee, and Mr. Carson), H770 [29FE] Cosponsors added, H1150 [12MR], H2121 [26MR], H2319 [11AP], H2939 [7MY], H3486 [22MY] H.R. 7482 — A bill to amend the Public Health Service Act to reauthorize the WISEWOMAN program; to the Committee on Energy and Commerce. By Mrs. BEATTY (for herself and Ms. DeLauro), H770 [29FE] H.R. 7483 — A bill to amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Financial Agent Mentor-Protege Program within the Department of the Treasury, and for other purposes; to the Committee on Financial Services. By Mrs. BEATTY (for herself, Mr. Carson, Mr. Carter of Louisiana, Mr. Cleaver, Ms. Garcia of Texas, Mr. Green of Texas, Ms. Jackson Lee, Mr. Johnson of Georgia, Ms. Lee of California, Ms. Norton, Ms. Plaskett, Mrs. Ramirez, Ms. Tokuda, Mrs. Watson Coleman, and Ms. Williams of Georgia), H770 [29FE] Cosponsors added, H3727 [11JN] H.R. 7484 — A bill to require Members of Congress who are foreign nationals to file a statement of their status as a foreign national, and for other purposes; to the Committee on House Administration. By Mr. BURCHETT, H770 [29FE] H.R. 7485 — A bill to amend section 13105(l) of title 5, United States Code, to require the reporting of periodic transaction reports not later than 24 hours after receiving notification of the requirement to report a transaction but in no case later than 72 hours after such transaction; to the Committee on Oversight and Accountability, and in addition to the Committees on House Administration, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BURCHETT, H770 [29FE] H.R. 7486 — A bill to authorize additional funds for the Shelter and Services Program of the Federal Emergency Management Agency, and for other purposes; to the Committee on Financial Services. By Ms. CARAVEO, H771 [29FE] H.R. 7487 — A bill to statutorily establish Operation Stonegarden, through which eligible law enforcement agencies shall be awarded grants for border security enhancement; to the Committee on the Judiciary, and in addition to the Committees on Homeland Security, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CARAVEO (for herself and Mr. Finstad), H771 [29FE] H.R. 7488 — A bill to increase the total maximum Federal Pell Grant, and for other purposes; to the Committee on Education and the Workforce. By Mr. CARBAJAL (for himself and Mr. Schiff), H771 [29FE] Cosponsors added, H1035 [7MR], H3531 [24MY] H.R. 7489 — A bill to increase the recruitment and retention of school-based mental health services providers by low-income local educational agencies; to the Committee on Education and the Workforce. By Ms. CHU (for herself, Mr. Fitzpatrick, Ms. Brown, Mr. Panetta, Mr. Grijalva, Ms. Dean of Pennsylvania, Mr. Soto, Mr. Courtney, Ms. Pingree, Mr. DeSaulnier, Mr. Lynch, Mrs. Napolitano, Mr. Kildee, Mr. García of Illinois, Ms. Tokuda, Ms. Kuster, Mr. Bacon, Mr. Payne, Mr. Thompson of Mississippi, Ms. McClellan, Ms. Craig, Mrs. Cherfilus-McCormick, Mr. Krishnamoorthi, Mr. Trone, Mrs. Hayes, Ms. Strickland, Mrs. Ramirez, Mr. Thanedar, and Ms. Lee of California), H771 [29FE] H.R. 7490 — A bill to require the Director of the Office of Personnel Management to establish a pilot program to identify and refer veterans for potential employment with Federal land management agencies, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Natural Resources, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CRANE (for himself, Mr. Levin, Mrs. Miller of Illinois, and Mr. Gosar), H771 [29FE] Cosponsors added, H2254 [9AP], H3007 [10MY], H3331 [16MY], H3400 [21MY] H.R. 7491 — A bill to establish a task force on waterway freight diversification and economic development in the Ohio, Allegheny, and Monongahela River corridors, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DELUZIO (for himself and Ms. Lee of Pennsylvania), H771 [29FE] H.R. 7492 — A bill to direct the Chairman of the Federal Trade Commission to establish a task force for the purpose of studying the effects of automated accounts on social media, public discourse, and elections; to the Committee on Energy and Commerce. By Mr. DeSAULNIER, H771 [29FE] H.R. 7493 — A bill making emergency supplemental appropriations to the Department of State and the Department of Homeland Security to provide assistance to Israel, Ukraine, and the Indo-Pacific region, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOTTHEIMER (for himself, Mr. Case, Mr. Moskowitz, and Mr. Costa), H771 [29FE] H.R. 7494 — A bill to amend the Securities Exchange Act of 1934 to prohibit exchanges from effecting transactions in securities issued by natural asset companies, and for other purposes; to the Committee on Financial Services. By Mr. GREEN of Tennessee (for himself, Ms. Hageman, Mr. Burchett, Mr. Lamborn, Mr. Cloud, Mr. Ogles, Mrs. Miller of Illinois, Mr. Estes, Mr. Norman, Mr. Banks, Mr. Sessions, Mr. Bishop of North Carolina, Mr. Bost, Mr. Edwards, Mr. Donalds, Mr. Fulcher, Mr. Self, Mr. Curtis, Mr. Davidson, Mr. Rosendale, Mr. Newhouse, Mrs. Fischbach, Mr. Mooney, Mr. Moolenaar, Mr. Higgins of Louisiana, Mr. Zinke, Ms. Boebert, and Mr. Stauber), H771 [29FE] Cosponsors added, H825 [5MR], H1058 [8MR], H1094 [11MR], H1190 [15MR], H2254 [9AP], H3400 [21MY] H.R. 7495 — A bill to amend the Higher Education Act of 1965 to create a demonstration project for competency-based education and clarify eligible competency-based education programs; to the Committee on Education and the Workforce. By Mr. GROTHMAN (for himself, Ms. Pettersen, and Mr. Owens), H771 [29FE] H.R. 7496 — A bill to amend title 23, United States Code, to improve responses to emergencies, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. JOHNSON of South Dakota (for himself and Mr. Costa), H771 [29FE] H.R. 7497 — A bill to amend the Federal Election Campaign Act of 1971 to reduce the number of members of the Federal Election Commission from 6 to 5, to revise the method of selection and terms of service of members of the Commission, to distribute the powers of the Commission between the Chair and the remaining members, and for other purposes; to the Committee on House Administration. By Mr. KILMER (for himself and Mr. Fitzpatrick), H771 [29FE] H.R. 7498 — A bill to amend the Clean Air Act to create a national zero-emission vehicle standard, and for other purposes; to the Committee on Energy and Commerce. By Mr. LEVIN (for himself, Ms. Bonamici, Ms. Brownley, Ms. Chu, Mr. Huffman, Mr. Khanna, and Ms. Norton), H771 [29FE] Cosponsors added, H2136 [2AP] H.R. 7499 — A bill to amend chapters 95 and 96 of the Internal Revenue Code of 1986 to reform the system of public financing for Presidential election campaigns, and for other purposes; to the Committee on House Administration, and in addition to the Committees on Ways and Means, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LIEU (for himself and Mrs. Foushee), H771 [29FE] H.R. 7500 — A bill to amend the Defense Production Act of 1950 to allow an Indian Tribe to request CFIUS review of certain transactions between the Indian Tribe and foreign persons, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LUETKEMEYER (for himself and Mrs. Peltola), H771 [29FE] H.R. 7501 — A bill to award a Congressional Gold Medal to Chad Robichaux, Sarah Verardo, Tim Kennedy, Kevin Rourke, Sean Gabler, Dave Johnson, and Dennis Price, in recognition of their exceptional efforts and selfless dedication during the Afghanistan evacuation in 2021, which led to the safe evacuation of over 17,000 people from Taliban-controlled Afghanistan; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. NORMAN (for himself, Mrs. Miller of Illinois, Mr. Weber of Texas, Mr. Gimenez, Mrs. Spartz, and Mr. Mooney), H771 [29FE] Cosponsors added, H825 [5MR] H.R. 7502 — A bill to direct the Secretary of Labor to provide for data collection and dissemination of information regarding programs under the national apprenticeship system, and for other purposes; to the Committee on Education and the Workforce. By Mr. PAPPAS (for himself and Mr. Molinaro), H771 [29FE] H.R. 7503 — A bill to amend the Public Health Service Act to provide health equity for people with disabilities; to the Committee on Energy and Commerce. By Mr. PAYNE (for himself and Mr. Fitzpatrick), H771 [29FE] Cosponsors added, H1190 [15MR], H1500 [22MR], H2143 [5AP] H.R. 7504 — A bill to expand and modify the grant program of the Department of Veterans Affairs to provide innovative transportation options to veterans in highly rural areas, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. PEREZ (for herself, Mr. Ciscomani, and Mr. Vasquez), H771 [29FE] Cosponsors added, H825 [5MR], H1035 [7MR], H2291 [10AP], H3486 [22MY], H3543 [31MY] H.R. 7505 — A bill to amend the Immigration and Nationality Act with respect to the issuance of nonimmigrant status under section 101(a)(15)(H)(i)(b); to the Committee on the Judiciary. By Mr. ROSENDALE (for himself, Mr. Harris, Ms. Boebert, Mr. McCaul, Mr. Collins, Mr. Weber of Texas, and Mr. Gaetz), H771 [29FE] Cosponsors added, H1035 [7MR] H.R. 7506 — A bill to improve financial literacy training for members of the Armed Forces; to the Committee on Armed Services. By Ms. SEWELL (for herself and Mr. Moylan), H771 [29FE] H.R. 7507 — A bill to designate the facility of the United States Postal Service located at 203 East 6th Street in Lexington, Nebraska, as the ‘‘Bill Barrett Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. SMITH of Nebraska (for himself, Mr. Flood, and Mr. Bacon), H771 [29FE] H.R. 7508 — A bill to designate the facility of the United States Postal Service located at 1285 Emancipation Highway in Fredericksburg, Virginia, as the ‘‘Gladys P. Todd Post Office’’; to the Committee on Oversight and Accountability. By Ms. SPANBERGER (for herself, Mr. Connolly, Ms. McClellan, Ms. Wexton, and Mr. Scott of Virginia), H771 [29FE] Cosponsors added, H1298 [20MR], H2143 [5AP], H3358 [17MY] H.R. 7509 — A bill to limit resettlement in certain States or localities; to the Committee on the Judiciary. By Mr. TIFFANY (for himself, Mr. Gooden of Texas, Mr. Ogles, and Mr. Van Orden), H771 [29FE] H.R. 7510 — A bill to establish an interagency Working Group to study financial safety and inclusion for survivors, and for other purposes; to the Committee on Financial Services. By Ms. VELÁZQUEZ, H771 [29FE] H.R. 7511 — A bill to require the Secretary of Homeland Security to take into custody aliens who have been charged in the United States with theft, and for other purposes; to the Committee on the Judiciary. By Mr. COLLINS, H780 [1MR] Cosponsors added, H1001 [6MR], H1035 [7MR] Providing for consideration (H. Res. 1052), H820 [5MR] Debated, H1013 [7MR] Text, H1013 [7MR] Passed House, H1020 [7MR] Message from the House, S2330 [8MR] Read the first time, S2333 [8MR] Read the second time. Placed on the calendar, S2349 [11MR] Objection is heard to request for consideration, S2379 [14MR] H.R. 7512 — A bill to amend title XVIII of the Social Security Act to ensure implementation of real-time benefit tools under part D of the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ARRINGTON (for himself and Mr. Panetta), H780 [1MR] Reported with amendment (H. Rept. 118–549, part 1), H3724 [11JN] H.R. 7513 — A bill to prohibit the Secretary of Health and Human Services from finalizing a proposed rule regarding minimum staffing for nursing facilities, and to establish an advisory panel on the skilled nursing facility workforce; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. FISCHBACH (for herself and Mr. Pence), H780 [1MR] Cosponsors added, H825 [5MR], H1001 [6MR], H1035 [7MR], H1237 [19MR], H2291 [10AP], H2503 [17AP], H2522 [18AP], H2636 [26AP], H2831 [1MY], H3531 [24MY], H3657 [4JN], H3682 [7JN], H4064 [13JN] H.R. 7514 — A bill to require the Secretary of Veterans Affairs to waive certain domestic content procurement preferences with respect to certain State home projects, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. FULCHER, H780 [1MR] Cosponsors added, H1035 [7MR], H1298 [20MR], H2136 [2AP] H.R. 7515 — A bill to amend the Fair Credit Reporting Act to delay the inclusion in consumer credit reports and to establish requirements for debt collectors with respect to medical debt information of Native Americans due to inappropriate or delayed billing payments or reimbursements from the Indian Health Service, and for other purposes; to the Committee on Financial Services. By Mr. JOHNSON of South Dakota (for himself, Ms. Schrier, Mrs. Rodgers of Washington, Ms. Leger Fernandez, and Mr. Zinke), H780 [1MR] Cosponsors added, H825 [5MR], H1001 [6MR], H2254 [9AP], H3400 [21MY] H.R. 7516 — A bill to amend the Indian Health Care Improvement Act to address liability for payment of charges or costs associated with provision of purchased/referred care services, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. JOHNSON of South Dakota (for himself, Ms. Schrier, Mrs. Rodgers of Washington, Ms. Leger Fernandez, and Mr. Zinke), H780 [1MR] Cosponsors added, H825 [5MR], H1001 [6MR], H1237 [19MR], H2254 [9AP], H2629 [23AP], H3400 [21MY] H.R. 7517 — A bill to amend the Internal Revenue Code of 1986 to provide for lifelong learning accounts, and for other purposes; to the Committee on Ways and Means. By Mr. KILMER (for himself, Mr. Fitzpatrick, Mr. Schneider, and Mr. Thompson of Pennsylvania), H780 [1MR] Cosponsors added, H2254 [9AP] H.R. 7518 — A bill to accommodate certain facilities within the right-of-way on any Federal-aid highway; to the Committee on Transportation and Infrastructure. By Ms. PORTER (for herself, Ms. Williams of Georgia, Ms. Norton, Mr. Huffman, Mr. Menendez, and Mr. Johnson of Georgia), H780 [1MR] H.R. 7519 — A bill to authorize a temporary increase in the permitted use of certain homeland security grants, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCHWEIKERT, H781 [1MR] H.R. 7520 — A bill to prohibit data brokers from transferring sensitive data of United States individuals to foreign adversaries, and for other purposes; to the Committee on Energy and Commerce. By Mr. PALLONE (for himself and Mrs. Rodgers of Washington), H820 [5MR] Cosponsors added, H1094 [11MR] Reported (H. Rept. 118–418), H1092 [11MR] Text, H1216 [19MR] Rules suspended. Passed House amended, H1254 [20MR] Title amended, H1255 [20MR] Message from the House, S2512 [21MR] Referred to the Committee on Commerce, Science, and Transportation, S2512 [21MR] H.R. 7521 — A bill to protect the national security of the United States from the threat posed by foreign adversary controlled applications, such as TikTok and any successor application or service and any other application or service developed or provided by ByteDance Ltd. or an entity under the control of ByteDance Ltd; to the Committee on Energy and Commerce. By Mr. GALLAGHER (for himself, Mr. Krishnamoorthi, Ms. Stefanik, Ms. Castor of Florida, Mr. Latta, Mr. Carson, Mr. Hern, Mr. Moulton, Mr. Roy, Ms. Sherrill, Mr. Dunn of Florida, Ms. Stevens, Mr. Norman, Mr. Auchincloss, Mrs. Cammack, Mr. Torres of New York, Mr. Moolenaar, Ms. Brown, Mr. Gottheimer, and Mrs. Hinson), H820 [5MR] Cosponsors added, H1094 [11MR] Reported (H. Rept. 118–417), H1092 [11MR] Debated, H1163 [13MR] Text, H1163 [13MR] Rules suspended. Passed House amended, H1171 [13MR] Message from the House, S2399 [14MR] Referred to the Committee on Commerce, Science, and Transportation, S2399 [14MR] H.R. 7522 — A bill to amend the America’s Conservation Enhancement Act to reauthorize the Chesapeake WILD program; to the Committee on Natural Resources, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCOTT of Virginia (for himself, Mr. Sarbanes, and Mr. Wittman), H820 [5MR] Cosponsors added, H1182 [13MR] H.R. 7523 — A bill to establish the Office of Executive Councils, and for other purposes; to the Committee on Oversight and Accountability. By Mr. TIMMONS (for himself and Mr. Khanna), H820 [5MR] H.R. 7524 — A bill to amend title 40, United States Code, to require the submission of reports on certain information technology services funds to Congress before expenditures may be made, and for other purposes; to the Committee on Oversight and Accountability. By Mr. SESSIONS, H820 [5MR] Cosponsors added, H2560 [19AP] Rules suspended. Passed House amended, H2852 [6MY] Text, H2852 [6MY] Message from the House, S3501 [7MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3501 [7MY] H.R. 7525 — A bill to require the Director of the Office of Management and Budget to issue guidance to agencies requiring special districts to be recognized as local government for the purpose of Federal financial assistance determinations; to the Committee on Oversight and Accountability. By Mr. FALLON (for himself and Ms. Pettersen), H820 [5MR] Cosponsors added, H1094 [11MR], H1237 [19MR], H2136 [2AP], H2143 [5AP], H2254 [9AP], H2319 [11AP], H2368 [12AP], H2399 [15AP], H2445 [16AP], H2876 [6MY] Text, H2849 [6MY] Rules suspended. Passed House, H2860 [6MY] Message from the House, S3501 [7MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3502 [7MY] H.R. 7526 — A bill to repeal the final rule adopted by the District of Columbia Department of Energy and Environment relating to ‘‘Adoption of California Vehicle Emission Standards’’; to the Committee on Oversight and Accountability. By Mrs. LUNA (for herself, Mr. Donalds, Mr. Langworthy, Mrs. Lesko, and Mr. Biggs), H820 [5MR] Cosponsors added, H1058 [8MR] H.R. 7527 — A bill to direct the United States Postal Service to issue regulations requiring Postal Service employees and contractors to report to the Postal Service traffic crashes involving vehicles carrying mail that result in injury or death, and for other purposes; to the Committee on Oversight and Accountability. By Mr. CONNOLLY (for himself and Mr. Comer), H820 [5MR] Rules suspended. Passed House amended, H2846 [6MY] Text, H2846 [6MY] Message from the House, S3501 [7MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3502 [7MY] H.R. 7528 — A bill to amend section 206 of the E-Government Act of 2002 to improve the integrity and management of mass comments and computer-generated comments in the regulatory review process, and for other purposes; to the Committee on Oversight and Accountability. By Mr. HIGGINS of Louisiana, H820 [5MR] Rules suspended. Passed House amended, H2844 [6MY] Text, H2844 [6MY] Message from the House, S3501 [7MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3502 [7MY] H.R. 7529 — A bill to amend the Chesapeake Bay Initiative Act of 1998 to reauthorize the Chesapeake Bay Gateways and Watertrails Network; to the Committee on Natural Resources. By Mr. SARBANES (for himself, Mr. Scott of Virginia, and Mr. Wittman), H820 [5MR] Cosponsors added, H1035 [7MR], H2445 [16AP] H.R. 7530 — A bill to limit youth offender status in the District of Columbia to individuals 18 years of age or younger, to direct the Attorney General of the District of Columbia to establish and operate a publicly accessible website containing updated statistics on juvenile crime in the District of Columbia, to amend the District of Columbia Home Rule Act to prohibit the Council of the District of Columbia from enacting changes to existing criminal liability sentences, and for other purposes; to the Committee on Oversight and Accountability. By Mr. DONALDS (for himself, Mr. Biggs, Mr. Timmons, and Mr. Palmer), H820 [5MR] Cosponsors added, H1001 [6MR] Reported with amendment (H. Rept. 118–479), H2768 [30AP] Debated, H3243 [15MY] Text, H3243 [15MY] Passed House amended, H3251 [15MY] Providing for consideration (H. Res. 1227), H3272 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on Homeland Security and Governmental Affairs, S3752 [16MY] H.R. 7531 — A bill to require the Board of Governors of the Federal Reserve System to study the impacts of the Board’s Reg II proposed rule, to complete a quantitative impact analysis of such rule, and to consider the results of such study and analysis before finalizing such rule, and for other purposes; to the Committee on Financial Services. By Mr. LUETKEMEYER (for himself, Mr. Donalds, Mr. Williams of Texas, Mr. Fitzgerald, Mr. Sessions, Mr. Flood, Mr. Nunn of Iowa, Mr. Meuser, and Mr. Posey), H820 [5MR] Cosponsors added, H1001 [6MR], H1058 [8MR] H.R. 7532 — A bill to amend chapter 35 of title 44, United States Code, to establish Federal AI system governance requirements, and for other purposes; to the Committee on Oversight and Accountability. By Mr. COMER (for himself, Mr. Raskin, Ms. Mace, Ms. Ocasio-Cortez, Mr. Higgins of Louisiana, Mr. Connolly, Mr. Langworthy, and Mr. Khanna), H820 [5MR] H.R. 7533 — A bill to improve retrospective reviews of Federal regulations, and for other purposes; to the Committee on Oversight and Accountability. By Mr. BIGGS, H820 [5MR] Cosponsors added, H2629 [23AP] H.R. 7534 — A bill to amend the Children’s Online Privacy Protection Act of 1998 to improve protections for children, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. AUCHINCLOSS, H820 [5MR] H.R. 7535 — A bill to require the Comptroller General of the United States to conduct a study and submit a report on price-related compensation and payment structures in the prescription drug supply chain; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CARAVEO (for herself and Mr. Mann), H820 [5MR] H.R. 7536 — A bill to establish a program for purposes of carrying out programs to prevent adverse childhood experiences and promoting positive childhood experiences, and to require the Secretary of Health and Human Services to conduct studies, evaluations, and research to address adverse childhood experiences, including through the promotion of positive childhood experiences; to the Committee on Energy and Commerce. By Mr. DAVIS of Illinois (for himself and Mr. Lawler), H820 [5MR] Cosponsors added, H2291 [10AP], H3275 [15MY] H.R. 7537 — A bill to provide for the disclosure and sharing of certain policy and claims information under the National Flood Insurance Program, and for other purposes; to the Committee on Financial Services. By Ms. DEAN of Pennsylvania (for herself, Mr. Garbarino, and Ms. Wexton), H820 [5MR] H.R. 7538 — A bill to direct the Secretary of Health and Human Services, for the purpose of addressing public health crises, to require the manufacturers of covered products to develop, maintain, and update a plan to mitigate the effects of such products on public health, and for other purposes; to the Committee on Energy and Commerce. By Mr. DeSAULNIER, H820 [5MR] H.R. 7539 — A bill to require the Secretary of the Treasury to guarantee BioBonds in order to provide funding for loans to eligible biomedical companies and universities to carry out clinical trials approved by the Food and Drug Administration, and for other purposes; to the Committee on Energy and Commerce. By Mr. FITZPATRICK (for himself and Mr. Bishop of Georgia), H820 [5MR] Cosponsors added, H2522 [18AP], H2876 [6MY], H3486 [22MY] H.R. 7540 — A bill to amend title 18, United States Code, to provide protections for nonviolent political protesters, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. GREENE of Georgia, H820 [5MR] H.R. 7541 — A bill to extend Federal recognition to the United Houma Nation, and for other purposes; to the Committee on Natural Resources. By Mr. HIGGINS of Louisiana, H820 [5MR] H.R. 7542 — A bill to amend the Public Health Service Act to provide for congenital Cytomegalovirus screening of newborns; to the Committee on Energy and Commerce. By Mr. LAWLER (for himself and Mr. Landsman), H820 [5MR] Cosponsors added, H1190 [15MR], H2319 [11AP], H3206 [14MY] H.R. 7543 — A bill to amend title 38, United States Code, to expand eligibility for Post-9/11 Educational Assistance to members of the National Guard who perform certain full-time duty, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. LEVIN (for himself, Mr. Kelly of Mississippi, Mr. Takano, Mr. Kim of New Jersey, Mr. Lawler, Mr. Thompson of California, Mr. Sablan, Mr. Mr van, and Mr. Ciscomani), H820 [5MR] Cosponsors added, H1001 [6MR], H1058 [8MR], H1237 [19MR], H2130 [29MR], H2254 [9AP], H3526 [23MY] H.R. 7544 — A bill to prohibit the conditioning of any permit, lease, or other use agreement on the transfer of any water right to the United States by the Secretary of the Interior and the Secretary of Agriculture, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MALOY (for herself, Mr. Estes, Mr. Fulcher, Mr. Lamborn, and Mr. Biggs), H821 [5MR] Cosponsors added, H3526 [23MY] H.R. 7545 — A bill to amend title XIX of the Social Security Act to include certified community behavioral health clinic services as a State plan option under the Medicaid program, and for other purposes; to the Committee on Energy and Commerce. By Ms. MATSUI (for herself and Mr. Bucshon), H821 [5MR] H.R. 7546 — A bill to amend title XVIII of the Social Security Act to provide for patient protection by limiting the number of mandatory overtime hours a nurse may be required to work in certain providers of services to which payments are made under the Medicare Program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MATSUI (for herself and Mrs. Kiggans of Virginia), H821 [5MR] Cosponsors added, H1035 [7MR], H1237 [19MR] H.R. 7547 — A bill to amend the Internal Revenue Code of 1986 to establish a refundable young adult tax credit with monthly advance payment; to the Committee on Ways and Means. By Mr. McGARVEY (for himself, Mrs. Watson Coleman, Mr. Carson, Mr. Landsman, Ms. Lee of California, Ms. Norton, Mrs. Ramirez, and Mr. Thanedar), H821 [5MR] Cosponsors added, H1001 [6MR], H1058 [8MR], H1150 [12MR], H1182 [13MR], H1190 [15MR], H2143 [5AP] H.R. 7548 — A bill to direct the Administrator of General Services to establish a program to sell surplus Government motor vehicles to certain small businesses that provide ground transportation service, and for other purposes; to the Committee on Oversight and Accountability. By Mrs. MILLER of West Virginia, H821 [5MR] H.R. 7549 — A bill to amend title 38, United States Code, to provide for the termination of a certain educational assistance program, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. MRVAN, H821 [5MR] H.R. 7550 — A bill to require the Secretary of Transportation to establish a mechanism to make helicopter noise complaint data accessible to the Federal Aviation Administration; to the Committee on Transportation and Infrastructure. By Ms. NORTON (for herself, Mr. Connolly, Mr. Quigley, Mr. Beyer, Mr. Trone, and Mr. Raskin), H821 [5MR] H.R. 7551 — A bill to prohibit any Federal law from making the manufacturer of a COVID-19 vaccine immune from suit or liability, or limiting the liability of such a manufacturer, with respect to claims for loss caused by, arising out of, relating to, or resulting from the administration to or the use by an individual of a COVID-19 vaccine, and for other purposes; to the Committee on the Judiciary. By Mr. ROY (for himself, Mr. Weber of Texas, Ms. Boebert, Mr. Higgins of Louisiana, Mrs. Miller of Illinois, Mr. Brecheen, Mr. Cloud, Mr. Massie, Mr. Good of Virginia, Mr. Davidson, Mr. Burlison, Mr. Norman, Mr. Nehls, Mr. Moore of Alabama, Mr. Harris, Mr. Gosar, Mr. Crane, Mr. Fulcher, Mr. Biggs, and Mr. DesJarlais), H821 [5MR] Cosponsors added, H1035 [7MR], H1298 [20MR] H.R. 7552 — A bill to prohibit the use of materials that use the term ‘‘West Bank’’, and for other purposes; to the Committee on Foreign Affairs. By Ms. TENNEY (for herself, Mr. Weber of Texas, and Mr. D’Esposito), H821 [5MR] H.R. 7553 — A bill to provide that in order to be eligible for a grant under the Edward Byrne Memorial Justice Assistance Grant Program, a State shall provide the Secretary of Homeland Security access to the State department of motor vehicles records for the purpose of enforcing the immigration laws; to the Committee on the Judiciary. By Ms. TENNEY (for herself, Mr. Langworthy, Mr. Garbarino, and Mr. Williams of New York), H821 [5MR] H.R. 7554 — A bill to amend part A of title IV of the Social Security Act to ensure that Federal funds provided under the program of block grants to States for temporary assistance for needy families are used to supplement State spending, and for other purposes; to the Committee on Ways and Means. By Ms. TENNEY, H821 [5MR] H.R. 7555 — A bill to extend the Generalized System of Preferences program; to the Committee on Ways and Means. By Ms. WASSERMAN SCHULTZ (for herself, Mr. Diaz-Balart, Ms. Wilson of Florida, Mr. Rutherford, Mrs. Cherfilus-McCormick, and Ms. Salazar), H821 [5MR] Cosponsors added, H1094 [11MR], H2131 [29MR] H.R. 7556 — A bill to establish a working group to coordinate regulatory oversight of liquefied natural gas facilities, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WEBER of Texas (for himself and Mrs. Fletcher), H821 [5MR] H.R. 7557 — A bill to protect members of the Coast Guard from sexual assault and harassment and increase transparency within the Coast Guard, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. WEBSTER of Florida (for himself, Mr. Carbajal, Mr. Graves of Missouri, and Mr. Larsen of Washington), H821 [5MR] Cosponsors added, H1001 [6MR], H1190 [15MR] H.R. 7558 — A bill to amend the Federal Water Pollution Control Act to reauthorize the Chesapeake Bay Program, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. WITTMAN (for himself, Mr. Scott of Virginia, and Mr. Sarbanes), H821 [5MR] Cosponsors added, H1035 [7MR] H.R. 7559 — A bill to amend title 38, United States Code, to grant family of members of the uniformed services temporary annual leave during the deployment of such members, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. CARTWRIGHT (for himself, Ms. Moore of Wisconsin, Ms. McCollum, Mr. Tonko, Mr. Sablan, Ms. Norton, Mr. Peters, Mr. McGovern, Mr. Moylan, Mr. Gottheimer, and Ms. Lois Frankel of Florida), H998 [6MR] Cosponsors added, H1190 [15MR], H1237 [19MR] H.R. 7560 — A bill to amend the Small Business Act to codify the Community Advantage Loan Program, and for other purposes; to the Committee on Small Business. By Ms. CHU (for herself and Ms. Velázquez), H998 [6MR] H.R. 7561 — A bill to reduce the pay of Members of Congress when a mass shooting occurs in the United States, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CLEAVER, H998 [6MR] H.R. 7562 — A bill to amend the Federal Reserve Act to prohibit Federal reserve banks from paying interest on excess reserves; to the Committee on Financial Services. By Mr. DAVIDSON, H998 [6MR] H.R. 7563 — A bill to strengthen compliance with the FDA Food Traceability Rule, to enhance the FDA foodborne illness outbreak investigation process, and for other purposes; to the Committee on Energy and Commerce. By Mr. SCOTT FRANKLIN of Florida (for himself, Mr. Bishop of Georgia, and Mr. Panetta), H998 [6MR] Cosponsors added, H1094 [11MR], H1355 [21MR], H2131 [29MR], H2254 [9AP], H2399 [15AP], H2445 [16AP], H2636 [26AP], H2831 [1MY], H3275 [15MY], H3526 [23MY], H3727 [11JN] H.R. 7564 — A bill to amend the Justice for United States Victims of State Sponsored Terrorism Act with respect to certain victims; to the Committee on the Judiciary. By Mr. GAETZ, H998 [6MR] Cosponsors added, H2876 [6MY], H2939 [7MY] H.R. 7565 — A bill to reauthorize the Congressional Award Act; to the Committee on Education and the Workforce. By Mr. HUDSON (for himself and Mrs. Dingell), H998 [6MR] Cosponsors added, H1237 [19MR] H.R. 7566 — A bill to publicize U.S. Customs and Border Protection operational statistics and report on foreign terrorist organizations; to the Committee on Homeland Security. By Mr. LUTTRELL (for himself, Mr. McCaul, Mr. D’Esposito, Mr. Guest, Mrs. Cammack, Mr. Dunn of Florida, Mr. Posey, Mr. Lawler, Mr. Garbarino, Mr. Ezell, Mr. Gimenez, Mr. Higgins of Louisiana, Mr. Webster of Florida, and Mr. Williams of New York), H998 [6MR] Cosponsors added, H1298 [20MR] H.R. 7567 — A bill to amend title 18, United States Code, to prohibit the production or distribution of digital forgeries of intimate visual depictions of identifiable individuals, and for other purposes; to the Committee on the Judiciary. By Ms. MACE (for herself, Mrs. Luna, Mr. Gaetz, and Mr. Good of Virginia), H998 [6MR] H.R. 7568 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to establish a deadline for applying for disaster unemployment assistance; to the Committee on Transportation and Infrastructure. By Mr. NEGUSE, H998 [6MR] Cosponsors added, H1035 [7MR] H.R. 7569 — A bill to improve rights to relief for individuals affected by non-consensual activities involving intimate digital forgeries, and for other purposes; to the Committee on the Judiciary. By Ms. OCASIO-CORTEZ (for herself, Mr. Mike Garcia of California, Ms. Mace, Mrs. Chavez-DeRemer, Mr. Miller of Ohio, Ms. Wexton, Mr. Raskin, Ms. Ross, and Mr. Lieu), H998 [6MR] H.R. 7570 — A bill to rescind unobligated funds under the American Rescue Plan Act of 2021, the Infrastructure Investment and Jobs Act, and the Inflation Reduction Act; to the Committee on Oversight and Accountability. By Mr. OGLES (for himself, Mr. Harris, Mr. Green of Tennessee, and Mr. Biggs), H998 [6MR] Cosponsors added, H1298 [20MR] H.R. 7571 — A bill to establish a regional trade, investment, and people-to-people partnership of countries in the Western Hemisphere to stimulate growth and integration through viable long-term private sector development, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Foreign Affairs, Financial Services, the Judiciary, Rules, Energy and Commerce, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SALAZAR (for herself, Mr. Espaillat, and Mr. Gallagher), H998 [6MR] H.R. 7572 — A bill to amend the Food and Nutrition Act of 2008 to provide employment and training data grants, and for other purposes; to the Committee on Agriculture. By Ms. SALINAS, H998 [6MR] H.R. 7573 — A bill to amend title XIX of the Social Security Act to repeal the requirement that States establish a Medicaid Estate Recovery Program and to limit the circumstances in which a State may place a lien on a Medicaid beneficiary’s property; to the Committee on Energy and Commerce. By Ms. SCHAKOWSKY (for herself, Ms. Matsui, Ms. Clarke of New York, Mrs. Dingell, Mr. Quigley, Mr. Pocan, Ms. Scanlon, Mr. García of Illinois, Ms. Pressley, Ms. Barragán, Mr. Grijalva, Mrs. Trahan, Mr. Cohen, and Ms. Omar), H998 [6MR] Cosponsors added, H2131 [29MR], H3727 [11JN], H3976 [12JN] H.R. 7574 — A bill to amend the Immigration and Nationality Act to base the numerical limitations for H-2B nonimmigrants on economic need, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SLOTKIN (for herself, Mr. Bergman, and Mr. Moolenaar), H999 [6MR] Cosponsors added, H1035 [7MR], H1094 [11MR] H.R. 7575 — A bill to amend the Higher Education Act of 1965 to provide loan deferment and loan cancellation for certain founders and employees of small business start-ups, to amend the Small Business Act to establish a young entrepreneurs business center, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. VELÁZQUEZ (for herself, Ms. Chu, Mr. Phillips, and Mr. McGarvey), H999 [6MR] Cosponsors added, H2291 [10AP] H.R. 7576 — A bill to amend section 6323 of title 5, United States Code, to increase the rate at which military leave accrues for members of the Reserve and the National Guard from 15 days to 30 days per year, and for other purposes; to the Committee on Oversight and Accountability. By Mr. VAN ORDEN (for himself and Mr. Pappas), H1033 [7MR] H.R. 7577 — A bill to amend the Internal Revenue Code of 1986 to treat energy efficient kegs as efficient commercial building property for purposes of the energy efficient commercial buildings deduction; to the Committee on Ways and Means. By Mr. LaHOOD (for himself and Mr. Horsford), H1033 [7MR] Cosponsors added, H2368 [12AP], H2522 [18AP], H2629 [23AP], H2876 [6MY], H2939 [7MY], H3358 [17MY], H3531 [24MY], H3727 [11JN], H4115 [18JN] H.R. 7578 — A bill to direct the Assistant Secretary of Commerce for Communications and Information to submit to Congress a report containing an assessment of technologies available to increase the security and resiliency of the communications networks of Taiwan, including through the development of redundancies, and for other purposes; to the Committee on Foreign Affairs. By Mr. ALLEN (for himself and Ms. Perez), H1033 [7MR] H.R. 7579 — A bill to amend the Federal Reserve Act to require the Board of Governors of the Federal Reserve System to establish goals for the use of diverse investment advisers, brokers, and dealers in investment management agreements related to the Board of Governors unusual and exigent circumstances authority, and for other purposes; to the Committee on Financial Services. By Mrs. BEATTY, H1033 [7MR] H.R. 7580 — A bill to provide for the effective use of immigration detainers to enhance public safety; to the Committee on the Judiciary. By Mr. BISHOP of North Carolina (for himself, Mr. Van Drew, Mr. Gaetz, Mr. Rosendale, Mr. Gooden of Texas, Mr. Duncan, Mrs. Miller of Illinois, Mr. Biggs, Mr. Posey, Mr. Gosar, and Mr. Smith of New Jersey), H1033 [7MR] Cosponsors added, H1094 [11MR], H1237 [19MR], H2702 [29AP] H.R. 7581 — A bill to require the Attorney General to develop reports relating to violent attacks against law enforcement officers, and for other purposes; to the Committee on the Judiciary. By Mr. BISHOP of North Carolina (for himself, Mrs. Hinson, Mr. Cuellar, Mr. Costa, Ms. Foxx, Mr. Nunn of Iowa, Mr. Finstad, Mr. Banks, and Mr. Miller of Ohio), H1033 [7MR] Cosponsors added, H1094 [11MR], H1237 [19MR], H2254 [9AP], H2291 [10AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H2636 [26AP], H2939 [7MY], H3000 [8MY] Reported with amendment (H. Rept. 118–494), H2995 [8MY] Text, H3236 [15MY] Passed House amended, H3252 [15MY] Providing for consideration (H. Res. 1227), H3272 [15MY] Message from the House, S3751 [16MY] Referred to the Committee on the Judiciary, S3752 [16MY] H.R. 7582 — A bill to prohibit the Secretary of Homeland Security from granting a work authorization to an alien found to have been unlawfully present in the United States; to the Committee on the Judiciary. By Mr. BURGESS, H1033 [7MR] H.R. 7583 — A bill to provide for the establishment of a pilot program to encourage the employment of veterans in manufacturing positions, and for other purposes; to the Committee on Education and the Workforce. By Ms. DelBENE (for herself, Ms. Bonamici, Ms. Norton, Ms. Kelly of Illinois, Mr. Peters, Ms. Kuster, Ms. Lee of California, Ms. Ross, Mr. Cohen, and Mr. McGovern), H1033 [7MR] Cosponsors added, H3675 [5JN] H.R. 7584 — A bill to amend the Congressional Budget Act of 1974 to require the Congressional Budget Office to provide cost estimates for legislation reported by the Committee on Appropriations of each House, and for other purposes; to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GROTHMAN (for himself, Mr. Biggs, Mr. Cline, Mr. LaMalfa, Ms. Mace, Mrs. Miller of Illinois, Mr. Moore of Alabama, Mr. Norman, Ms. Greene of Georgia, Ms. Tenney, Mr. Weber of Texas, and Mr. Wilson of South Carolina), H1033 [7MR] Cosponsors added, H2876 [6MY] H.R. 7585 — A bill to amend the Food and Nutrition Act of 2008 to require the promulgation of cybersecurity and digital service regulations relating to the use of EBT cards under the supplemental nutrition assistance program, and for other purposes; to the Committee on Agriculture. By Mr. KIM of New Jersey (for himself and Mr. Lawler), H1033 [7MR] Cosponsors added, H2503 [17AP] H.R. 7586 — A bill to establish a Department of State Domestic Protection Mission relating to unmanned aircraft system and unmanned aircraft; to the Committee on Foreign Affairs, and in addition to the Committees on Transportation and Infrastructure, the Judiciary, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MILLS (for himself and Mr. McCaul), H1033 [7MR] Cosponsors added, H2939 [7MY] H.R. 7587 — A bill to direct the Secretary of Transportation to issue a notice of proposed rulemaking with respect to categorical exclusions of the Maritime Administration, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. PELTOLA (for herself and Mr. Rouzer), H1033 [7MR] Cosponsors added, H3331 [16MY] H.R. 7588 — A bill to direct the Secretary of Agriculture, acting through the Administrator of the Food Safety and Inspection Service, to reassess certain food ingredients used in the preparation of meat, poultry, and egg products, and for other purposes; to the Committee on Agriculture. By Ms. SCHAKOWSKY (for herself, Ms. Norton, Mr. Khanna, and Ms. DeLauro), H1033 [7MR] H.R. 7589 — A bill to direct the Secretary of Commerce, acting through the Assistant Secretary of Commerce for Communications and Information, to conduct a study of the national security risks posed by consumer routers, modems, and devices that combine a modem and router, and for other purposes; to the Committee on Energy and Commerce. By Mr. LATTA (for himself and Mrs. Peltola), H1056 [8MR] Reported (H. Rept. 118–505), H3201 [14MY] H.R. 7590 — A bill to impose certain conditions on the issuance of diplomatic and student visas to nationals of certain covered nations; to the Committee on the Judiciary. By Mr. BANKS (for himself, Mr. Gallagher, and Mr. Moolenaar), H1056 [8MR] H.R. 7591 — A bill to establish the National Patient Safety Board; to the Committee on Energy and Commerce, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BARRAGÁN (for herself and Mr. Burgess), H1056 [8MR] H.R. 7592 — A bill to direct the Librarian of Congress to promote the more cost-effective, efficient, and expanded availability of the Annotated Constitution and pocket-part supplements by replacing the hardbound versions with digital versions; to the Committee on House Administration. By Mrs. BICE (for herself, Mr. Carey, Mr. Kilmer, and Mr. Morelle), H1056 [8MR] H.R. 7593 — A bill to enhance the authority of the Director of the Congressional Research Service to obtain information directly from agencies of the Federal Government; to the Committee on House Administration. By Mrs. BICE (for herself, Mr. Carey, Mr. Kilmer, and Mr. Morelle), H1056 [8MR] Cosponsors added, H1190 [15MR] H.R. 7594 — A bill to enact into law certain Executive orders related to immigration and border security, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Homeland Security, Armed Services, Oversight and Accountability, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BOEBERT (for herself, Mr. Biggs, Mr. Harris, Mr. Ogles, Mr. Moore of Alabama, Mr. Donalds, Mr. Duncan, Mrs. Miller of Illinois, Mr. Gosar, and Mr. Banks), H1056 [8MR] Cosponsors added, H1150 [12MR] H.R. 7595 — A bill to amend the Tennessee Valley Authority Act to provide for further transparency of the Tennessee Valley Authority, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. COHEN (for himself and Mr. Burchett), H1056 [8MR] H.R. 7596 — A bill to direct the Secretaries of Defense and of Veterans Affairs to take certain steps regarding research related to menopause, perimenopause, or mid-life women’s health, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. HOULAHAN (for herself, Mrs. Bice, and Ms. Clarke of New York), H1057 [8MR] Cosponsors added, H2143 [5AP], H2445 [16AP] H.R. 7597 — A bill to provide for the appointment of additional Federal circuit and district judges, and for other purposes; to the Committee on the Judiciary. By Mr. ISSA (for himself and Mr. Johnson of Georgia), H1057 [8MR] Cosponsors added, H1237 [19MR], H2131 [29MR], H4110 [14JN] H.R. 7598 — A bill to require the Inspector General to submit a report on the Federal subaward reporting system, and for other purposes; to the Committee on Oversight and Accountability. By Mr. LANGWORTHY (for himself, Ms. Houlahan, Mr. Cloud, Mr. Guest, Mr. Higgins of Louisiana, Mr. Lawler, Mr. Latta, Mr. Davis of North Carolina, and Mr. Quigley), H1057 [8MR] Cosponsors added, H2702 [29AP] H.R. 7599 — A bill to amend title XVIII of the Social Security Act to expand the eligibility for designation as a rural emergency hospital under the Medicare program; to the Committee on Ways and Means. By Mr. LaTURNER, H1057 [8MR] H.R. 7600 — A bill to amend chapter 261 of title 49, United States Code, to provide for high-speed rail corridor development, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOULTON (for himself, Ms. DelBene, Mr. Boyle of Pennsylvania, Mr. Cleaver, Mr. Beyer, Ms. Lee of California, Mr. Jackson of Illinois, Ms. Titus, Mrs. Watson Coleman, Mr. Vargas, Mrs. Cherfilus-McCormick, Mr. Carson, Mr. Casten, Ms. Salinas, Mr. Takano, Mr. Auchincloss, Ms. Ocasio-Cortez, Mr. Gottheimer, Mr. García of Illinois, Mr. Bowman, Ms. McClellan, Mr. Johnson of Georgia, Mr. Suozzi, Ms. Bonamici, Ms. Norton, Mr. McGarvey, and Ms. Lofgren), H1057 [8MR] Cosponsors added, H1094 [11MR], H1150 [12MR], H1190 [15MR], H1237 [19MR], H1355 [21MR], H3331 [16MY], H3657 [4JN] H.R. 7601 — A bill to amend the Defense Production Act of 1950 to prohibit the use of the authorities under title I and title III of such Act for electric vehicles or related technologies; to the Committee on Financial Services. By Mr. PERRY, H1057 [8MR] Cosponsors added, H2939 [7MY] H.R. 7602 — A bill to amend the Defense Production Act of 1950 to prohibit the President from making provision for the purchase of solar panels under the authority of such Act, and for other purposes; to the Committee on Financial Services. By Mr. PERRY, H1057 [8MR] Cosponsors added, H2939 [7MY] H.R. 7603 — A bill to direct the Secretary of Defense to ensure that the audit of the financial statements of the Department of Defense for fiscal year 2024 is conducted using technology that uses artificial intelligence, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCHWEIKERT, H1057 [8MR] H.R. 7604 — A bill to provide enhanced disaster unemployment assistance to victims of the Hawaii wildfires of 2023, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. TOKUDA (for herself and Mr. Case), H1057 [8MR] H.R. 7605 — A bill to address the worsening long-term care workforce crisis and increase access to and affordability of long-term care; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. TRAHAN (for herself and Mr. Fitzpatrick), H1057 [8MR] H.R. 7606 — A bill to designate the facility of the United States Postal Service located at 1087 Route 47 South in Rio Grande, New Jersey, as the ‘‘Carlton H. Hand Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. VAN DREW (for himself, Mr. Smith of New Jersey, Mr. Kean of New Jersey, Mr. Norcross, Mr. Kim of New Jersey, Mr. Gottheimer, Mr. Pallone, Mr. Menendez, Mr. Pascrell, Mr. Payne, Ms. Sherrill, and Mrs. Watson Coleman), H1057 [8MR] Rules suspended. Passed House, H3561 [3JN] Text, H3561 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 7607 — A bill to designate the facility of the United States Postal Service located at Block 1025, Lots 18 & 19, Northeast Corner of US Route 9 South and Main Street in the Township of Middle, County of Cape May, New Jersey, as the ‘‘George Henry White Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. VAN DREW (for himself, Mr. Smith of New Jersey, Mr. Kean of New Jersey, Mr. Norcross, Mr. Kim of New Jersey, Mr. Gottheimer, Mr. Pallone, Mr. Menendez, Mr. Pascrell, Mr. Payne, Ms. Sherrill, and Mrs. Watson Coleman), H1057 [8MR] Rules suspended. Passed House, H3562 [3JN] Text, H3562 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 7608 — A bill to impose sanctions with respect to persons that operate in a sector of the People’s Republic of China’s economy in which the person has engaged in a pattern of significant theft of the intellectual property of a United States person, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CURTIS, H1092 [11MR] H.R. 7609 — A bill to direct the Administrator of the Environmental Protection Agency to provide for the generation of Renewable Identification Numbers under the renewable fuel program for electricity from renewable biomass, and for other purposes; to the Committee on Energy and Commerce. By Mr. GARAMENDI (for himself, Mr. Golden of Maine, and Ms. Kuster), H1092 [11MR] Cosponsors added, H4115 [18JN] H.R. 7610 — A bill to amend the Homeland Security Act of 2002 to clarify that utility line technicians qualify as emergency response providers; to the Committee on Transportation and Infrastructure. By Mr. HIGGINS of Louisiana (for himself and Mr. Norcross), H1093 [11MR] Cosponsors added, H2503 [17AP] H.R. 7611 — A bill to require the Secretary of Energy to establish a program to provide loans to manufacturers of energy grid products and components; to the Committee on Energy and Commerce, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HIGGINS of Louisiana, H1093 [11MR] H.R. 7612 — A bill to affirm and protect the First Amendment rights of students and student organizations at public institutions of higher education; to the Committee on Education and the Workforce. By Mrs. HOUCHIN (for herself, Mrs. McClain, and Mr. Owens), H1093 [11MR] H.R. 7613 — A bill to amend title 38, United States Code, to provide for a limitation on the amount of entitlement to educational assistance payable for flight training under the Post-9/11 Educational Assistance Program of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. KEAN of New Jersey (for himself and Mr. McGarvey), H1093 [11MR] Cosponsors added, H1298 [20MR], H2522 [18AP], H3275 [15MY], H3400 [21MY], H3682 [7JN], H3976 [12JN] H.R. 7614 — A bill to prohibit the payment of the salaries of the President and members of the cabinet if the President fails to submit the annual budget to Congress before the first Monday in February of any year, and for other purposes; to the Committee on Oversight and Accountability. By Ms. MACE, H1093 [11MR] H.R. 7615 — A bill to allow States to elect to observe daylight savings time for the duration of the year, and for other purposes; to the Committee on Energy and Commerce. By Ms. MALOY, H1093 [11MR] H.R. 7616 — A bill to prohibit the use of Federal funds to provide assistance for building in, or rebuilding Gaza, and for other purposes; to the Committee on Foreign Affairs. By Mr. MAST, H1093 [11MR] H.R. 7617 — A bill to prohibit no-knock warrants, and for other purposes; to the Committee on the Judiciary. By Mr. McGARVEY, H1093 [11MR] Cosponsors added, H1190 [15MR] H.R. 7618 — A bill to amend title XVIII of the Social Security Act to include physical therapists and occupational therapists as health professionals for purposes of the annual wellness visit under the Medicare program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. MILLER of West Virginia (for herself and Ms. Stansbury), H1093 [11MR] Cosponsors added, H2629 [23AP], H2771 [30AP], H2876 [6MY], H3275 [15MY], H3657 [4JN], H3976 [12JN] H.R. 7619 — A bill to require the Secretary of Health and Human Services to issue guidance to States on strategies under Medicaid and CHIP to increase mental health and substance use disorder care provider education, training, recruitment, and retention; to the Committee on Energy and Commerce. By Mr. NEGUSE (for himself and Mr. Zinke), H1093 [11MR] H.R. 7620 — A bill to amend the Federal Lands Recreation Enhancement Act to require the acceptance of cash payments for entrance fees at units of the National Park System; to the Committee on Natural Resources. By Mr. NORMAN (for himself, Mrs. Peltola, Mr. Posey, Mr. Rose, Mr. Rouzer, Mr. Lamborn, Ms. Mace, Mr. Carter of Georgia, Mr. Zinke, Mr. Rosendale, and Ms. Boebert), H1093 [11MR] Cosponsors added, H1150 [12MR], H1182 [13MR] H.R. 7621 — A bill to prohibit certain uses of automated decision systems by employers, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on House Administration, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BONAMICI (for herself and Mr. Deluzio), H1146 [12MR] H.R. 7622 — A bill to amend title 5, United States Code, to require any member of the President’s cabinet who is temporarily unable to perform the functions and duties of office to provide notice to the President, the Congress, and the public of their absence, and for other purposes; to the Committee on Oversight and Accountability. By Mr. CLYDE (for himself, Mr. McCormick, Mr. Mooney, Mrs. Miller of Illinois, Mr. Hunt, Ms. Boebert, Mr. Rosendale, Mr. Brecheen, Mr. Gosar, Mr. Burlison, Mr. Harris, Mr. Palmer, and Mr. Crane), H1146 [12MR] H.R. 7623 — A bill to amend title XVIII of the Social Security Act to make permanent certain telehealth flexibilities under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARTER of Georgia (for himself, Ms. Blunt Rochester, Mr. Steube, Ms. Sewell, Mrs. Miller-Meeks, Mrs. Dingell, Mr. Van Drew, and Mr. Morelle), H1146 [12MR] Cosponsors added, H2143 [5AP], H2254 [9AP], H2319 [11AP], H2636 [26AP], H3543 [31MY] H.R. 7624 — A bill to require the Federal Energy Regulatory Commission to establish a shared savings incentive to return a portion of the savings attributable to an investment in grid-enhancing technology to the developer of that grid-enhancing technology, and for other purposes; to the Committee on Energy and Commerce. By Ms. CASTOR of Florida (for herself, Mr. Tonko, and Mr. Peters), H1146 [12MR] Cosponsors added, H1500 [22MR], H3000 [8MY] H.R. 7625 — A bill to require the Board of Governors of the Federal Reserve System and the Securities and Exchange Commission to issue an annual report to Congress projecting and accounting for the economic costs directly and indirectly caused by the impacts of climate change, to require the Federal Retirement Thrift Investment Board to establish a Federal Advisory Panel on the Economics of Climate Change, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CLEAVER (for himself, Ms. Tlaib, Mr. Khanna, Ms. Norton, Mrs. Watson Coleman, Mr. García of Illinois, Ms. Lee of California, Mr. Blumenauer, Ms. Schakowsky, Mr. Casar, Mrs. Ramirez, Mr. Vargas, and Ms. Jayapal), H1147 [12MR] Cosponsors added, H1237 [19MR], H1355 [21MR], H2254 [9AP], H2399 [15AP] H.R. 7626 — A bill to prohibit the Secretary of Energy from prescribing or enforcing energy conservation standards for room air conditioners that are not cost-effective or technologically feasible, and for other purposes; to the Committee on Energy and Commerce. By Mr. CRENSHAW, H1147 [12MR] Reported (H. Rept. 118–451), H2288 [10AP] H.R. 7627 — A bill to establish the Dr. Percy and Dr. Anna Julian Home National Historic Site in the State of Illinois, and for other purposes; to the Committee on Natural Resources. By Mr. DAVIS of Illinois (for himself, Mr. Mfume, Ms. Plaskett, and Ms. Kelly of Illinois), H1147 [12MR] Cosponsors added, H1237 [19MR], H2254 [9AP] H.R. 7628 — A bill to provide a civil remedy for individuals harmed by sanctuary jurisdiction policies, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Transportation and Infrastructure, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. EDWARDS, H1147 [12MR] H.R. 7629 — A bill to facilitate the implementation of security measures undertaken by the United States Postal Service, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZPATRICK (for himself, Mr. Landsman, Mr. Reschenthaler, Ms. Caraveo, and Mr. Norcross), H1147 [12MR] Cosponsors added, H1190 [15MR], H1237 [19MR], H1355 [21MR], H2121 [26MR], H2136 [2AP], H2143 [5AP], H2254 [9AP], H2291 [10AP], H2319 [11AP], H2368 [12AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H2629 [23AP], H2636 [26AP], H2771 [30AP], H2831 [1MY], H2876 [6MY], H2939 [7MY], H3000 [8MY], H3007 [10MY], H3206 [14MY], H3275 [15MY], H3331 [16MY], H3400 [21MY], H3526 [23MY], H3531 [24MY], H3543 [31MY], H3657 [4JN], H3675 [5JN], H3682 [7JN], H3727 [11JN], H3976 [12JN], H4064 [13JN] H.R. 7630 — A bill to require a plan to improve the cybersecurity and telecommunications of the U.S. Academic Research Fleet, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. MIKE GARCIA of California (for himself and Ms. Stevens), H1147 [12MR] Reported (H. Rept. 118–521), H3520 [23MY] H.R. 7631 — A bill to require the United States Postal Service to reimburse fees charged for the late payment of bills that were delayed in the mail, and for other purposes; to the Committee on Oversight and Accountability. By Mr. GRAVES of Missouri (for himself, Mr. Alford, and Mr. Cleaver), H1147 [12MR] Cosponsors added, H1237 [19MR], H1298 [20MR], H2143 [5AP], H3657 [4JN], H3675 [5JN] H.R. 7632 — A bill to amend title 51, United States Code, to exempt from disclosure by NASA certain technical data, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. JACKSON of North Carolina, H1147 [12MR] H.R. 7633 — A bill to provide authority to enhance security assistance with countries that are engaged in regional security cooperation efforts in the Middle East and North Africa, and for other purposes; to the Committee on Foreign Affairs. By Mr. JAMES (for himself and Mr. McCaul), H1147 [12MR] Cosponsors added, H1237 [19MR] H.R. 7634 — A bill to require the Administrator of the Environmental Protection Agency to promulgate certain limitations with respect to pre-production plastic pellet pollution, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. LEVIN (for himself, Mrs. Peltola, Mr. Huffman, Mr. Quigley, Ms. Lee of California, Ms. Stansbury, Ms. Bonamici, Mr. Grijalva, Mr. Kilmer, Mr. Nadler, Ms. Schakowsky, Ms. Pingree, Mr. Schiff, Mr. Connolly, Ms. Ocasio-Cortez, Mr. Cohen, Ms. Matsui, Mr. García of Illinois, Ms. Norton, Mr. Carbajal, Ms. Sherrill, Ms. Schrier, Mrs. Watson Coleman, Mr. Torres of New York, Mr. Raskin, Mr. Nickel, Mr. Carson, Ms. Garcia of Texas, Ms. Sánchez, Mr. Soto, Mrs. Ramirez, Ms. Tokuda, Ms. Kamlager-Dove, Ms. Barragán, Ms. Hoyle of Oregon, Mr. Blumenauer, Ms. Jacobs, Mr. Davis of Illinois, Mr. Vargas, Mr. Thompson of California, Mr. Sarbanes, Mr. Pocan, and Mr. Kim of New Jersey), H1147 [12MR] Cosponsors added, H1190 [15MR], H1237 [19MR], H1355 [21MR], H2121 [26MR], H2291 [10AP], H2319 [11AP], H2368 [12AP], H2445 [16AP], H2629 [23AP], H2876 [6MY], H3000 [8MY], H3526 [23MY], H3675 [5JN] H.R. 7635 — A bill to amend title III of the Social Security Act to ensure the accessibility of drugs furnished under the 340B drug discount program; to the Committee on Energy and Commerce. By Ms. MATSUI, H1147 [12MR] H.R. 7636 — A bill to support international governance of seafloor resource exploration and responsible polymetallic nodule collection by allied partners, strengthen domestic processing and refining capabilities, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Ways and Means, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. MILLER of West Virginia (for herself and Mr. Joyce of Pennsylvania), H1147 [12MR] Cosponsors added, H1298 [20MR], H2291 [10AP], H3400 [21MY] H.R. 7637 — A bill to prohibit the Secretary of Energy from prescribing or enforcing energy conservation standards for refrigerators, refrigerator-freezers, and freezers that are not cost-effective or technologically feasible, and for other purposes; to the Committee on Energy and Commerce. By Mrs. MILLER-MEEKS, H1147 [12MR] Reported (H. Rept. 118–452), H2288 [10AP] H.R. 7638 — A bill to require the Secretary of Commerce to reimpose duties on steel imported into the United States from Mexico, and for other purposes; to the Committee on Ways and Means. By Mr. MRVAN (for himself, Mr. Crawford, Ms. Sewell, Mr. Balderson, Mr. Deluzio, Mr. Bost, Mr. Baird, Mr. Banks, and Ms. Budzinski), H1147 [12MR] Cosponsors added, H1298 [20MR], H2291 [10AP] H.R. 7639 — A bill to establish a National Advisory Council on Unpaid School Meal Debt in Child Nutrition Programs, and for other purposes; to the Committee on Education and the Workforce. By Ms. OMAR (for herself, Ms. Adams, Mr. Bowman, Mr. Carson, Ms. Garcia of Texas, Mr. García of Illinois, Ms. Lee of California, Mr. McGovern, Ms. Norton, Ms. Porter, Ms. Salinas, Mr. Takano, Ms. Tlaib, Ms. Velázquez, and Mrs. Watson Coleman), H1147 [12MR] H.R. 7640 — A bill to prohibit the hiring of individuals who are not citizens of the United States to administer an election for Federal office in a State or local jurisdiction, and for other purposes; to the Committee on House Administration. By Mr. PFLUGER, H1147 [12MR] H.R. 7641 — A bill to prohibit the inclusion of mandatory predispute arbitration clauses and clauses limiting class action lawsuits in health insurance contracts; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. PORTER (for herself, Mr. Doggett, Ms. Schakowsky, and Ms. DeLauro), H1147 [12MR] H.R. 7642 — A bill to reauthorize the Junior Duck Stamp Conservation and Design Program Act of 1994 (16 U.S.C. 719 et seq.); to the Committee on Natural Resources. By Ms. SCHOLTEN (for herself and Mr. Yakym), H1147 [12MR] H.R. 7643 — A bill to amend title 38, United States Code, to authorize the use of Department of Veterans Affairs work-study allowance to carry out casework, policy making, and oversight related to the activities of the Department at certain congressional offices; to the Committee on Veterans’ Affairs. By Mr. TAKANO, H1147 [12MR] Cosponsors added, H3976 [12JN] H.R. 7644 — A bill to amend the Higher Education Act of 1965 to reauthorize the Federal work-study program, and for other purposes; to the Committee on Education and the Workforce. By Ms. BONAMICI (for herself, Mr. Kilmer, Mrs. Hayes, and Ms. Wilson of Florida), H1179 [13MR] H.R. 7645 — A bill to prohibit the Secretary of Energy from prescribing or enforcing energy conservation standards for clothes dryers that are not cost-effective or technologically feasible, and for other purposes; to the Committee on Energy and Commerce. By Mr. EZELL, H1179 [13MR] Reported (H. Rept. 118–453), H2289 [10AP] H.R. 7646 — A bill to impose sanctions with respect to foreign persons that knowingly engage in political warfare on behalf of a foreign government or political party and to require a determination regarding the United Front Work Department of the Chinese Communist Party; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BANKS, H1179 [13MR] H.R. 7647 — A bill to direct the Secretary of Health and Human Services to provide guidance to State Medicaid agencies, public housing agencies, Continuums of Care, and housing finance agencies on connecting Medicaid beneficiaries with housing-related services and supports under Medicaid and other housing resources, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BARRAGÁN (for herself, Ms. Slotkin, Ms. Chu, Mr. Horsford, Ms. Lee of California, Ms. Lee of Pennsylvania, Mrs. Napolitano, Ms. Porter, Mr. Raskin, Mr. Takano, Mr. Thanedar, Mrs. Watson Coleman, Mr. Khanna, Ms. Balint, and Mrs. Hayes), H1179 [13MR] Cosponsors added, H3727 [11JN] H.R. 7648 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to include certain reporting to the uniform crime reporting program; to the Committee on the Judiciary. By Mr. BEYER (for himself and Mr. Bacon), H1179 [13MR] H.R. 7649 — A bill to amend the Immigration and Nationality to provide for the detention, inadmissibility, and removal of aliens who commit sexual assault; to the Committee on the Judiciary. By Mr. BUCHANAN (for himself, Mr. Issa, and Mr. Donalds), H1179 [13MR] Cosponsors added, H1355 [21MR], H2143 [5AP], H2254 [9AP], H2291 [10AP], H2319 [11AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2522 [18AP], H3358 [17MY] H.R. 7650 — A bill to facilitate efficient State implementation of national ambient air quality standards, and for other purposes; to the Committee on Energy and Commerce. By Mr. CARTER of Georgia (for himself, Mr. Guthrie, Mr. Weber of Texas, Mr. Valadao, Mr. Joyce of Pennsylvania, Mr. Allen, Mr. Pence, Mrs. Harshbarger, Mr. Newhouse, Mr. Crenshaw, Mr. Barr, Mr. Obernolte, Mr. Pfluger, Mr. Balderson, and Mr. Latta), H1179 [13MR] Cosponsors added, H1190 [15MR] H.R. 7651 — A bill to provide for methane emission detection and mitigation, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. CASTEN (for himself, Mr. Peters, Ms. McClellan, Mr. Mullin, and Mr. Bowman), H1179 [13MR] Cosponsors added, H1190 [15MR] H.R. 7652 — A bill to increase oversight and transparency with respect to Medicare billing codes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CISCOMANI (for himself, Mr. Davis of North Carolina, Mrs. Harshbarger, and Mr. Huizenga), H1179 [13MR] H.R. 7653 — A bill to amend title 38, United States Code, to update certain terminology regarding veteran employment; to the Committee on Veterans’ Affairs. By Mr. DAVIS of North Carolina (for himself and Mr. Ciscomani), H1179 [13MR] H.R. 7654 — A bill to expand and modify the grant program of the Department of Veterans Affairs to provide innovative transportation options to veterans in highly rural areas, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. DAVIS of North Carolina (for himself and Mr. Murphy), H1179 [13MR] H.R. 7655 — A bill to amend title 49, United States Code, to improve the safety of pipeline transportation, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DUNCAN, H1179 [13MR] H.R. 7656 — A bill to amend title 31, United States Code, to require the President to submit a balanced budget to Congress, and for other purposes; to the Committee on the Budget. By Mr. FEENSTRA (for himself, Mr. Bergman, Mrs. Spartz, Mr. Mann, Mrs. Bice, and Mr. Nunn of Iowa), H1179 [13MR] Cosponsors added, H1190 [15MR], H2121 [26MR] H.R. 7657 — A bill to direct the Secretary of Veterans Affairs to revise a certain directive of the Veterans Health Administration of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. FINSTAD, H1179 [13MR] H.R. 7658 — A bill to authorize safety and prevention training programs for fishing vessel operators and crewmembers, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. GOLDEN of Maine (for himself, Mr. Ezell, Ms. Perez, Mr. Van Drew, Mrs. Peltola, and Mrs. Kiggans of Virginia), H1179 [13MR] Cosponsors added, H3976 [12JN] H.R. 7659 — A bill to authorize and amend authorities, programs, and statutes administered by the Coast Guard; to the Committee on Transportation and Infrastructure. By Mr. GRAVES of Missouri (for himself, Mr. Larsen of Washington, Mr. Webster of Florida, and Mr. Carbajal), H1179 [13MR] Cosponsors added, H1298 [20MR] Reported with amendment (H. Rept. 118–495), H2995 [8MY] Debated, H3170 [14MY] Text, H3170 [14MY] Rules suspended. Passed House amended, H3188 [14MY] Message from the House, S3709 [15MY] Referred to the Committee on Commerce, Science, and Transportation, S3709 [15MY] H.R. 7660 — A bill to clarify minimum altitudes for go-arounds, inspection passes, practice approaches, and qualified instrument approaches; to the Committee on Transportation and Infrastructure. By Ms. HAGEMAN (for herself, Mr. Weber of Texas, and Mr. Smith of Nebraska), H1179 [13MR] Cosponsors added, H1237 [19MR], H2254 [9AP], H2368 [12AP] H.R. 7661 — A bill to provide expanded cooperation by the National Aeronautics and Space Administration and the National Oceanic and Atmospheric Administration with Taiwan, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HILL (for himself and Ms. Caraveo), H1179 [13MR] Cosponsors added, H1237 [19MR], H2876 [6MY], H3486 [22MY], H3526 [23MY], H3727 [11JN] H.R. 7662 — A bill to require reports on critical mineral and rare earth element resources around the world and a strategy for the development of advanced mining, refining, separation, and processing technologies; to the Committee on Natural Resources. By Ms. HOULAHAN (for herself, Mr. Krishnamoorthi, Mr. Wittman, Mr. Waltz, and Ms. Castor of Florida), H1179 [13MR] Cosponsors added, H2445 [16AP] H.R. 7663 — A bill to amend title 40, United States Code, to include Indian Tribes among entities that may receive Federal surplus real property for certain purposes, and for other purposes; to the Committee on Oversight and Accountability. By Mr. JOHNSON of South Dakota (for himself and Ms. Davids of Kansas), H1179 [13MR] Cosponsors added, H1237 [19MR] H.R. 7664 — A bill to amend parts B and E of title IV of the Social Security Act to expand nondiscrimination protections for children and families and offer greater flexibility to States before petitioning to terminate parental rights, and for other purposes; to the Committee on Ways and Means. By Ms. KAMLAGER-DOVE (for herself and Mr. Johnson of Georgia), H1179 [13MR] H.R. 7665 — A bill to amend title XVIII of the Social Security Act to improve the way beneficiaries are assigned under the Medicare shared savings program by also basing such assignment on primary care services furnished by nurse practitioners, physician assistants, and clinical nurse specialists; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KILMER (for himself, Mr. Smith of Nebraska, Ms. DelBene, and Mr. Gallagher), H1179 [13MR] Cosponsors added, H2131 [29MR], H3657 [4JN] H.R. 7666 — A bill to require the Secretary of Agriculture to develop a strategy to increase opportunities to utilize livestock grazing as a means of wildfire risk reduction; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LaMALFA (for himself and Mr. Vasquez), H1179 [13MR] Cosponsors added, H2131 [29MR], H4110 [14JN] H.R. 7667 — A bill to expand the seniors farmers’ market program to include maple syrup; to the Committee on Agriculture. By Mr. LANGWORTHY (for himself, Mr. Courtney, Mr. Pappas, Mr. Pocan, Mr. Grothman, Mr. Lawler, Mr. Williams of New York, Ms. Tenney, Ms. Malliotakis, Mr. Tiffany, and Ms. Stefanik), H1179 [13MR] Cosponsors added, H1237 [19MR] H.R. 7668 — A bill to amend the Americans with Disabilities Act of 1990 to provide for a remediation period before the commencement of a civil action; to the Committee on the Judiciary. By Mr. LAWLER (for himself and Mr. Correa), H1180 [13MR] Cosponsors added, H1298 [20MR] H.R. 7669 — A bill to make States ineligible for funding through the State Maternal and Child Health Services Block Grant program if the States prohibit a licensed physician from performing in vitro fertilization for an individual experiencing medical hardship in conceiving a child, and for other purposes; to the Committee on Energy and Commerce. By Mrs. LUNA, H1180 [13MR] Cosponsors added, H1190 [15MR], H1500 [22MR], H2121 [26MR] H.R. 7670 — A bill to amend the Animal Welfare Act to prohibit the captivity of mink, and for other purposes; to the Committee on Agriculture. By Ms. MACE (for herself, Ms. DeLauro, Mr. Fitzpatrick, Mr. Tonko, Mr. Gooden of Texas, Ms. Escobar, Mr. Van Drew, and Ms. Dean of Pennsylvania), H1180 [13MR] Cosponsors added, H1190 [15MR], H1298 [20MR], H1355 [21MR], H1500 [22MR], H2319 [11AP], H2636 [26AP], H3682 [7JN] H.R. 7671 — A bill to amend section 324 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act to incentivize States, Indian Tribes, and Territories to close disaster recovery projects by authorizing the use of excess funds for management costs for other disaster recovery projects; to the Committee on Transportation and Infrastructure. By Mr. NEGUSE (for himself, Mr. D’Esposito, Ms. Titus, Mr. Ezell, and Mr. Stanton), H1180 [13MR] Cosponsors added, H2319 [11AP], H3727 [11JN] H.R. 7672 — A bill to amend title 40, United States Code, to permit commercial filmmaking and photography on the United States Capitol grounds, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. NORTON, H1180 [13MR] H.R. 7673 — A bill to prohibit the Secretary of Energy from prescribing or enforcing energy conservation standards for clothes washers that are not cost-effective or technologically feasible, and for other purposes; to the Committee on Energy and Commerce. By Mr. OGLES (for himself, Mr. Moolenaar, and Mrs. Harshbarger), H1180 [13MR] Reported (H. Rept. 118–454), H2289 [10AP] H.R. 7674 — A bill to amend title 38, United States Code, to establish the Advisory Committee on Lesbian, Gay, Bisexual, Transgender, and Queer Veterans; to the Committee on Veterans’ Affairs. By Mr. PAPPAS (for himself and Ms. DelBene), H1180 [13MR] Cosponsors added, H2131 [29MR] H.R. 7675 — A bill to extend the authorization of appropriations for PFAS research and development by the Environmental Protection Agency; to the Committee on Energy and Commerce, and in addition to the Committees on Science, Space, and Technology, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PAPPAS (for himself and Mr. Posey), H1180 [13MR] Cosponsors added, H3331 [16MY], H3358 [17MY], H3400 [21MY], H3531 [24MY], H3543 [31MY] H.R. 7676 — A bill to amend title 18, United States Code, to prohibit officers and employees of the judiciary from engaging in official acts affecting personal financial interests; to the Committee on the Judiciary. By Mr. SCHIFF (for himself, Mr. Johnson of Georgia, Ms. Norton, Ms. Lee of California, Mr. Goldman of New York, Mr. Jackson of Illinois, and Mrs. Ramirez), H1180 [13MR] Cosponsors added, H1237 [19MR], H2121 [26MR] H.R. 7677 — A bill to prohibit the Secretary of Health and Human Services, the Secretary of Labor, and the Secretary of the Treasury from finalizing a rule proposing restrictions on short-term limited duration insurance, and to amend title XXVII of the Public Health Service Act to define such insurance; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SELF (for himself, Mr. Ogles, Mr. Biggs, Mr. Burlison, Mr. Bacon, Mr. Brecheen, and Mr. Tiffany), H1180 [13MR] Cosponsors added, H1237 [19MR], H2254 [9AP] H.R. 7678 — A bill to amend the Defense Production Act of 1950 to better address certain transactions by foreign entities of concern, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Energy and Commerce, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SLOTKIN (for herself and Mr. Moore of Utah), H1180 [13MR] H.R. 7679 — A bill to amend the Workforce Innovation and Opportunity Act to establish a fund to provide support services for individuals participating in certain training activities under such Act; to the Committee on Education and the Workforce. By Mr. SMITH of Washington, H1180 [13MR] H.R. 7680 — A bill to support the preparation and retention of outstanding educators in all fields to ensure a bright future for children and youth in under-resourced and underserved communities in the United States, and for other purposes; to the Committee on Education and the Workforce. By Ms. STEVENS (for herself and Mrs. Hayes), H1180 [13MR] Cosponsors added, H2319 [11AP] H.R. 7681 — A bill to amend the Internal Revenue Code of 1986 to extend the exemption for telehealth services from certain high deductible health plan rules, to establish a safe harbor for high deductible health plans with no deductible for certain primary care services, and to direct the Comptroller General of the United States to conduct a study on the effects of such safe harbor; to the Committee on Ways and Means. By Mr. WENSTRUP (for himself and Mr. Schneider), H1180 [13MR] Cosponsors added, H2629 [23AP], H2876 [6MY], H3400 [21MY] H.R. 7682 — A bill to amend title XIX of the Social Security Act to increase under the Medicaid program the minimum monthly personal needs allowance for institutionalized individuals and couples, and for other purposes; to the Committee on Energy and Commerce. By Ms. WEXTON (for herself and Ms. Norton), H1180 [13MR] H.R. 7683 — A bill to amend the Higher Education Act of 1965 to require institutions of higher education to adopt and adhere to principles of free speech, and for other purposes; to the Committee on Education and the Workforce. By Mr. WILLIAMS of New York (for himself, Mr. Thompson of Pennsylvania, and Ms. Foxx), H1187 [15MR] Cosponsors added, H1237 [19MR], H1298 [20MR], H1355 [21MR], H2254 [9AP], H2368 [12AP], H2445 [16AP], H2503 [17AP], H2636 [26AP] Reported with amendment (H. Rept. 118–468), H2634 [26AP] H.R. 7684 — A bill to reauthorize the Morris K. Udall and Stewart L. Udall Trust Fund, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CISCOMANI (for himself and Ms. Stansbury), H1187 [15MR] H.R. 7685 — A bill to strengthen and enhance the competitiveness of American industry through the research and development of advanced technologies to improve the efficiency of cement, concrete, and asphalt production, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. MILLER of Ohio (for himself and Mrs. Foushee), H1187 [15MR] Reported with amendment (H. Rept. 118–522), H3520 [23MY] H.R. 7686 — A bill to amend the Research and Development, Competition, and Innovation Act to clarify of definition of foreign country for purposes of malign foreign talent recruitment restriction, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. MIKE GARCIA of California (for himself and Ms. Stevens), H1187 [15MR] H.R. 7687 — A bill to amend title 51, United States Code, to authorize the transfer to NASA of funds from other agencies for scientific or engineering research or education, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SORENSEN, H1187 [15MR] Cosponsors added, H1298 [20MR] H.R. 7688 — A bill to amend the Public Health Service Act to reauthorize the Project ECHO Grant Program, to establish grants under such program to disseminate knowledge and build capacity to address Alzheimer’s disease and other dementias, and for other purposes; to the Committee on Energy and Commerce. By Mr. CARTER of Georgia (for himself, Ms. Barragán, Mr. LaHood, and Mr. Tonko), H1187 [15MR] Cosponsors added, H2254 [9AP], H2291 [10AP], H2319 [11AP], H2368 [12AP], H2399 [15AP], H2445 [16AP], H2503 [17AP], H2560 [19AP], H2636 [26AP], H2771 [30AP], H2939 [7MY], H3206 [14MY], H3543 [31MY], H3583 [3JN], H3727 [11JN], H3976 [12JN], H4115 [18JN] H.R. 7689 — A bill to amend title 18, United State Code, to amend the definition of ‘‘official act’’ for purposes of the prohibition of bribery; to the Committee on the Judiciary. By Ms. CRAIG (for herself, Ms. Mace, Mr. Sorensen, and Mr. Kim of New Jersey), H1187 [15MR] H.R. 7690 — A bill to prohibit, or require disclosure of, the surveillance, monitoring, and collection of certain worker data by employers, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Oversight and Accountability, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DELUZIO (for himself and Ms. Bonamici), H1187 [15MR] H.R. 7691 — A bill to require the Chairperson of the Financial Stability Oversight Council to provide contingency plans for a disruption in the timing of payment on Treasury securities, and for other purposes; to the Committee on Financial Services. By Mr. DONALDS, H1187 [15MR] H.R. 7692 — A bill to require the heads of Federal agencies to submit to Congress an annual report regarding official time authorized under title 5, United States Code, and for other purposes; to the Committee on Oversight and Accountability. By Mr. SCOTT FRANKLIN of Florida, H1187 [15MR] Cosponsors added, H2136 [2AP], H2368 [12AP], H2939 [7MY] H.R. 7693 — A bill to amend the Internal Revenue Code of 1986 to treat distributions from health savings accounts for funeral expenses of the account beneficiary as qualified distributions; to the Committee on Ways and Means. By Mr. HERN, H1187 [15MR] Cosponsors added, H2131 [29MR] H.R. 7694 — A bill to amend the Internal Revenue Code of 1986 to limit the use of artificial intelligence at the Internal Revenue Service and to require tax investigations and examinations of taxpayers to be initiated by staff investigators; to the Committee on Ways and Means. By Mr. HIGGINS of Louisiana (for himself and Mr. Burlison), H1187 [15MR] H.R. 7695 — A bill to prohibit deployment of Federal air marshals to the southern and northern borders of the United States, and for other purposes; to the Committee on Homeland Security. By Mrs. HINSON (for herself and Mr. Pfluger), H1187 [15MR] Cosponsors added, H2254 [9AP] H.R. 7696 — A bill to require the Administrator of the Federal Aviation Administration to initiate a Call to Action safety review of airport ramp worker safety, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. HOYLE of Oregon (for herself, Mr. Van Orden, Mr. Ryan, Mrs. Chavez-DeRemer, and Mr. Casar), H1187 [15MR] H.R. 7697 — A bill to amend title XVI of the Social Security Act to apply cost-of-living adjustments to the minimum monthly personal needs allowance for institutionalized individuals and couples under the supplemental security income program, and require State supplementary payments under that program to be increased by the amount of each such adjustment; to the Committee on Ways and Means. By Mr. KILDEE (for himself and Mr. Carey), H1187 [15MR] H.R. 7698 — A bill to amend the National and Community Service Act of 1990 to establish an Office of Civic Bridgebuilding within the Corporation for National and Community Service, and for other purposes; to the Committee on Education and the Workforce. By Mr. KILMER (for himself, Mr. Barr, Mrs. McBath, Mrs. González-Colón, Mrs. Trahan, Mr. Fitzpatrick, Mr. Case, Mrs. Kim of California, Mr. Aguilar, Mr. Thompson of Pennsylvania, Ms. Williams of Georgia, Mr. Carbajal, Ms. Slotkin, Mr. Courtney, Mr. Neguse, and Ms. Houlahan), H1187 [15MR] Cosponsors added, H1237 [19MR], H1500 [22MR], H2319 [11AP], H2876 [6MY], H3400 [21MY] H.R. 7699 — A bill to direct to the Director of National Intelligence to develop a strategy to improve the sharing of information and intelligence on foreign adversary tactics and illicit activities affecting the ability of United States companies to compete in foreign jurisdictions on projects relating to energy generation and storage, and for other purposes; to the Committee on Intelligence (Permanent Select). By Mr. KRISHNAMOORTHI (for himself, Mr. Wittman, and Ms. Houlahan), H1187 [15MR] Cosponsors added, H2445 [16AP] H.R. 7700 — A bill to prohibit the Secretary of Energy from prescribing or enforcing energy conservation standards for dishwashers that are not cost-effective or technologically feasible, and for other purposes; to the Committee on Energy and Commerce. By Mr. LANGWORTHY, H1187 [15MR] Cosponsors added, H1237 [19MR], H1298 [20MR], H1500 [22MR] Reported (H. Rept. 118–455), H2289 [10AP] H.R. 7701 — A bill to require the imposition of sanctions with respect to any foreign person that knowingly participates in the construction, maintenance, or repair of a tunnel or bridge that connects the Russian mainland with the Crimean peninsula; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MEEKS (for himself and Mr. Wilson of South Carolina), H1187 [15MR] Cosponsors added, H1237 [19MR], H1298 [20MR], H2254 [9AP] H.R. 7702 — A bill to direct the Comptroller General of the United States to submit a report to Congress on vessel fires and responses, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MENENDEZ, H1187 [15MR] Cosponsors added, H1298 [20MR] H.R. 7703 — A bill to amend title 38, United States Code, to provide for the improvement of the Department of Veterans Affairs loan guarantee for purchase of residential cooperative housing units, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. MENG (for herself and Ms. Malliotakis), H1187 [15MR] H.R. 7704 — A bill to require the Secretary of Education to conduct a study and submit a report on the effect of education policies during the COVID-19 pandemic on the academic achievement and functional performance of students with an individualized education program, and for other purposes; to the Committee on Education and the Workforce. By Mr. MOLINARO (for himself and Ms. Perez), H1188 [15MR] Cosponsors added, H2503 [17AP] H.R. 7705 — A bill to amend the Internal Revenue Code of 1986 to expand the credit for expenditures to provide access to disabled individuals; to the Committee on Ways and Means. By Mr. MOLINARO (for himself and Ms. Crockett), H1188 [15MR] H.R. 7706 — A bill to provide that funds made available under the Infrastructure Investment and Jobs Act for lead service line replacement projects be provided to disadvantaged communities in the form of forgivable loans or grants, and for other purposes; to the Committee on Energy and Commerce. By Mr. NUNN of Iowa (for himself and Mrs. Sykes), H1188 [15MR] H.R. 7707 — A bill to amend the Internal Revenue Code of 1986 to provide for a first-time homebuyer credit, and for other purposes; to the Committee on Ways and Means. By Mr. PANETTA (for himself and Mr. Blumenauer), H1188 [15MR] H.R. 7708 — A bill to amend title XVIII of the Social Security Act to require MA organizations offering network-based plans to maintain an accurate provider directory, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PANETTA (for himself, Mr. Murphy, Ms. Kuster, Mr. Schneider, and Mr. Fitzpatrick), H1188 [15MR] Cosponsors added, H2831 [1MY] H.R. 7709 — A bill to establish a strategic active pharmaceutical ingredient reserve to maintain a domestic supply of active pharmaceutical ingredients and key starting materials needed for the manufacturing of essential generic medicines, and to build a pipeline for domestic active pharmaceutical ingredient production; to the Committee on Energy and Commerce. By Ms. SPANBERGER (for herself and Mr. Bacon), H1188 [15MR] H.R. 7710 — A bill to authorize and encourage the United States Agency for International Development to pursue a model of locally led development and humanitarian response and expand engagement with local partners and increase its local partner base; to the Committee on Foreign Affairs. By Ms. JACOBS (for herself and Mr. Mills), H1233 [19MR] Cosponsors added, H1355 [21MR], H2445 [16AP] H.R. 7711 — A bill to amend title XVIII of the Social Security Act to make permanent certain telehealth flexibilities under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. DINGELL (for herself and Mr. Bergman), H1233 [19MR] H.R. 7712 — A bill to amend the Higher Education Act of 1965 to prohibit an institution of higher education that employs unauthorized aliens from receiving funds from Federal student assistance or Federal institutional aid and to require institutions of higher education to participate in the E-Verify Program in order to be eligible to participate in any program authorized under title IV of such Act; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BANKS (for himself and Mr. Good of Virginia), H1233 [19MR] H.R. 7713 — A bill to amend title 38, United States Code, to require the Secretary of Veterans Affairs to submit to Congress the annual performance plans for Department of Veterans Affairs political appointees; to the Committee on Veterans’ Affairs. By Mr. BERGMAN, H1233 [19MR] H.R. 7714 — A bill to authorize the Secretary of Health and Human Services, acting through the Director of the Centers for Disease Control and Prevention, to make grants to States to increase awareness and education for colorectal cancer and improve early detection of colorectal cancer in young individuals, and for other purposes; to the Committee on Energy and Commerce. By Ms. CARAVEO (for herself, Mr. Payne, Ms. Stevens, and Ms. Sewell), H1233 [19MR] Cosponsors added, H1298 [20MR], H1355 [21MR], H1500 [22MR], H2131 [29MR], H2254 [9AP], H2702 [29AP] H.R. 7715 — A bill to authorize additional funding for Food and Drug Administration monitoring and prevention of illicit nicotine products at ports of entry, and for other purposes; to the Committee on Energy and Commerce. By Mr. GALLEGO, H1233 [19MR] H.R. 7716 — A bill to amend title XVIII of the Social Security Act to provide for enforcement of standards for reasonable and relevant contract terms and conditions and essential retail pharmacy protections under the Medicare program; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GALLEGO, H1233 [19MR] H.R. 7717 — A bill to amend title XI of the Social Security Act to enhance pharmacy benefit manager transparency requirements; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GALLEGO, H1233 [19MR] H.R. 7718 — A bill to amend title XVIII of the Social Security Act to assure pharmacy access and choice for medicare beneficiaries; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GALLEGO, H1233 [19MR] H.R. 7719 — A bill to provide for the removal of abandoned vessels, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Armed Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GARAMENDI, H1233 [19MR] Cosponsors added, H2636 [26AP], H3007 [10MY], H3583 [3JN], H3976 [12JN] H.R. 7720 — A bill to permit the Byrne JAG grant to be used for the purchase of fentanyl testing kits and opioid reversal agents; to the Committee on the Judiciary. By Mr. KEAN of New Jersey (for himself and Mr. Van Drew), H1233 [19MR] Cosponsors added, H2623 [20AP] H.R. 7721 — A bill to direct the heads of certain Federal agencies to develop and support worker-owned cooperative businesses, and for other purposes; to the Committee on Small Business, and in addition to the Committees on Financial Services, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KHANNA (for himself, Mr. Bowman, and Ms. Tlaib), H1233 [19MR] H.R. 7722 — A bill to establish the Integrated Blue Economy and Blue Energy Technologies Program, and a Blue Economy Center of Excellence, to support research and development of blue energy technologies; to the Committee on Science, Space, and Technology. By Mr. KILMER (for himself and Mr. Newhouse), H1233 [19MR] H.R. 7723 — A bill to amend the Federal Election Campaign Act of 1971 to prohibit the solicitation and acceptance of a recurring contribution or donation in a campaign for election for Federal office by any method which does not require the contributor or donor to give affirmative consent to making the contribution or donation on a recurring basis, and for other purposes; to the Committee on House Administration. By Mr. LEVIN (for himself, Mr. LaLota, Mr. Neguse, and Mr. Obernolte), H1233 [19MR] H.R. 7724 — A bill to establish, under article I of the Constitution of the United States, a court of record to be known as the United States Immigration Courts; to the Committee on the Judiciary, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. LOFGREN, H1233 [19MR] H.R. 7725 — A bill to amend the Higher Education Act of 1965 to prohibit graduate medical schools from receiving Federal financial assistance if such schools adopt certain policies and requirements relating to diversity, equity, and inclusion; to the Committee on Education and the Workforce. By Mr. MURPHY (for himself, Mr. Bilirakis, Mr. Norman, Mr. Wenstrup, Ms. Van Duyne, Mr. Harris, Mr. Babin, Mrs. Harshbarger, Mr. Jackson of Texas, Mr. Brecheen, Mr. Self, Ms. Greene of Georgia, Ms. Tenney, Mr. Allen, Mr. Smith of New Jersey, Mr. Wilson of South Carolina, Mr. LaMalfa, Mr. McCormick, Mr. Austin Scott of Georgia, Mr. Fitzgerald, Mr. Rouzer, Mr. Lamborn, Mr. Grothman, Mr. Williams of New York, Mr. Van Drew, Mr. Edwards, Mr. Kelly of Pennsylvania, Mr. Arrington, Mr. Timmons, Mr. Bishop of North Carolina, Mr. Bentz, Mr. DesJarlais, Mr. Van Orden, Mrs. Miller-Meeks, Mr. Hern, and Mr. Scott Franklin of Florida), H1233 [19MR] Cosponsors added, H1298 [20MR], H1355 [21MR], H1500 [22MR], H2136 [2AP], H2143 [5AP], H3535 [28MY], H3675 [5JN], H3727 [11JN] H.R. 7726 — A bill to amend chapter 77 of title 5, United States Code, to clarify certain due process rights of Federal employees serving in sensitive positions, and for other purposes; to the Committee on Oversight and Accountability. By Ms. NORTON (for herself and Mr. Carson), H1233 [19MR] H.R. 7727 — A bill to establish an Ambassador-at-Large for the Arctic Region; to the Committee on Foreign Affairs. By Mrs. PELTOLA (for herself, Mr. Baird, Mr. Amodei, and Mr. Larsen of Washington), H1233 [19MR] H.R. 7728 — A bill to repeal section 115 of the Clean Air Act; to the Committee on Energy and Commerce. By Mr. PERRY (for himself, Mr. Mooney, Mr. Biggs, Mr. Good of Virginia, and Mr. Ogles), H1233 [19MR] Cosponsors added, H2445 [16AP] H.R. 7729 — A bill to amend title 38, United States Code, to expand eligibility for headstones, markers, and burial receptacles under the laws administered by the Secretary of Veterans Affairs to certain individuals who died before November 11, 1998; to the Committee on Veterans’ Affairs. By Mr. RESCHENTHALER (for himself, Mr. Deluzio, Mr. Joyce of Pennsylvania, Mr. Meuser, Mr. Kelly of Pennsylvania, and Mr. Thompson of Pennsylvania), H1233 [19MR] H.R. 7730 — A bill to require a GAO study on the sale of illicit drugs online, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SPANBERGER (for herself, Mr. Hunt, Ms. Dean of Pennsylvania, and Mr. Crenshaw), H1234 [19MR] H.R. 7731 — A bill to direct the Secretary of Education to award grants for new agricultural education programs in secondary schools; to the Committee on Education and the Workforce. By Mr. THOMPSON of Pennsylvania (for himself, Mr. Panetta, Mr. Langworthy, Mr. Cuellar, Mr. Alford, and Ms. Porter), H1234 [19MR] Cosponsors added, H2876 [6MY] H.R. 7732 — A bill to amend titles 10 and 38, United States Code, to make improvements to certain programs for a member nearing separation, or for a veteran who recently separated, from the Armed Forces, and for other purposes; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VAN ORDEN (for himself and Mr. Bost), H1234 [19MR] Cosponsors added, H2636 [26AP] H.R. 7733 — A bill to amend section 236A of the Immigration and Nationality Act with respect to the requirement to cross reference the terrorist screening database; to the Committee on the Judiciary. By Mr. WILLIAMS of Texas (for himself, Mr. Posey, Mr. Biggs, and Mr. Johnson of South Dakota), H1234 [19MR] H.R. 7734 — A bill to amend title 38, United States Code, to require a notation in the personnel record file of certain employees of the Department of Veterans Affairs who resign from Government employment under certain circumstances; to the Committee on Veterans’ Affairs. By Mr. SCOTT FRANKLIN of Florida, H1294 [20MR] H.R. 7735 — A bill to require institutions of higher education participating in Federal student aid programs to share information about title VI of the Civil Rights Act of 1964, including a link to the webpage of the Office for Civil Rights where an individual can submit a complaint regarding discrimination in violation of such title, and for other purposes; to the Committee on Education and the Workforce. By Ms. MANNING (for herself and Mrs. Chavez-DeRemer), H1294 [20MR] Cosponsors added, H1355 [21MR], H2254 [9AP], H3000 [8MY] H.R. 7736 — A bill to establish a private right of action against a person who sends unsolicited visual depictions of sexually explicit conduct; to the Committee on the Judiciary. By Ms. McCLELLAN (for herself and Mr. Moran), H1294 [20MR] H.R. 7737 — A bill to transfer antitrust enforcement from the Federal Trade Commission to the Attorney General, and for other purposes; to the Committee on the Judiciary. By Mr. CLINE (for himself, Mr. Fitzgerald, and Mr. Armstrong), H1294 [20MR] H.R. 7738 — A bill to establish the Toxic Exposure Fund of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committees on Rules, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BOST (for himself, Mrs. Miller-Meeks, and Mr. Scott Franklin of Florida), H1294 [20MR] Cosponsors added, H1355 [21MR] H.R. 7739 — A bill to require the implementation of the Migrant Protection Protocols at the northern border of the United States; to the Committee on the Judiciary. By Mr. BABIN (for himself, Mrs. Miller of Illinois, Mr. Biggs, Mr. Ogles, Mr. Posey, Mr. Self, Mr. Baird, Mr. Cline, Mr. Tiffany, and Mr. Grothman), H1294 [20MR] Cosponsors added, H2136 [2AP], H3275 [15MY] H.R. 7740 — A bill to establish the use of ranked choice voting in elections for Senators and Representatives in Congress, to require each State with more than one Representative to establish multi-member congressional districts, to require States to conduct congressional redistricting according to nonpartisan criteria, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BEYER (for himself, Mr. Raskin, Mr. Blumenauer, Ms. Lee of California, Mr. Khanna, Mr. McGovern, and Mr. Peters), H1294 [20MR] Cosponsors added, H2121 [26MR] H.R. 7741 — A bill to direct the President to oppose any waiver of obligations of members of the World Trade Organization under the Agreement on Trade-Related Aspects of Intellectual Property Rights unless a statute is enacted expressly authorizing such a waiver; to the Committee on Ways and Means. By Mr. BURCHETT (for himself, Mr. Fleischmann, Mr. Guest, and Mr. Rutherford), H1294 [20MR] H.R. 7742 — A bill to amend title XVIII of the Social Security Act to establish a 2-year demonstration program for hospitals to provide outpatient observation services to Medicare beneficiaries at home; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CASTOR of Florida (for herself and Mr. Buchanan), H1294 [20MR] Cosponsors added, H3583 [3JN] H.R. 7743 — A bill to direct the Secretary of Energy to establish the ‘‘Department of Energy Experienced Worker Program’’; to the Committee on Energy and Commerce. By Ms. DeGETTE (for herself and Mr. Fulcher), H1295 [20MR] Cosponsors added, H3400 [21MY] H.R. 7744 — A bill to amend the Internal Revenue Code of 1986 to allow an investment credit for certain domestic infant formula manufacturing projects and to allow a domestic production credit for certain infant formula; to the Committee on Ways and Means. By Ms. DeLAURO, H1295 [20MR] H.R. 7745 — A bill to prioritize funding for an expanded and sustained national investment in basic science research, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committees on Armed Services, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FOSTER, H1295 [20MR] Cosponsors added, H2368 [12AP] H.R. 7746 — A bill to amend title 18, United States Code, to improve firearm destruction practices, and for other purposes; to the Committee on the Judiciary. By Mr. FROST (for himself, Mr. Schiff, Ms. Tokuda, Mr. Amo, Mr. Ruiz, Ms. Escobar, Mr. Raskin, Mr. Ivey, Mr. Lieu, Mr. Soto, Ms. Crockett, Ms. Norton, Ms. Lee of California, Mr. Casten, Mrs. Ramirez, Mr. Davis of Illinois, Mr. Robert Garcia of California, Ms. Pingree, Mrs. McBath, Mr. Moskowitz, Mr. McGarvey, Mr. Ryan, Mrs. Watson Coleman, and Ms. Kelly of Illinois), H1295 [20MR] Cosponsors added, H1355 [21MR], H2131 [29MR], H2876 [6MY] H.R. 7747 — A bill to provide for the permanent appointment of certain temporary district judgeships; to the Committee on the Judiciary. By Mr. GOODEN of Texas (for himself, Mr. Lieu, Mr. Moran, and Ms. Ross), H1295 [20MR] Cosponsors added, H3400 [21MY] H.R. 7748 — A bill to amend the Richard B. Russell National School Lunch Act to establish a pilot program promoting scratch cooking in school meal programs; to the Committee on Education and the Workforce. By Mrs. HAYES (for herself, Mr. Fitzpatrick, and Ms. Brownley), H1295 [20MR] H.R. 7749 — A bill to amend the Internal Revenue Code of 1986 to impose a tax on the net value of assets of a taxpayer, and for other purposes; to the Committee on Ways and Means. By Ms. JAYAPAL (for herself, Mr. Boyle of Pennsylvania, Mr. Beyer, Mr. Bowman, Ms. Bush, Ms. Chu, Mr. Davis of Illinois, Mr. Evans, Mr. García of Illinois, Mr. Goldman of New York, Mr. Grijalva, Mr. Ivey, Mr. Jackson of Illinois, Mr. Johnson of Georgia, Ms. Lee of California, Ms. Lee of Pennsylvania, Mr. McGovern, Mr. Nadler, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Ms. Porter, Ms. Pressley, Mrs. Ramirez, Ms. Schakowsky, Mr. Schiff, Mr. Smith of Washington, Mr. Takano, Ms. Tlaib, Ms. Tokuda, Mr. Trone, Ms. Waters, Mrs. Watson Coleman, and Ms. Wild), H1295 [20MR] Cosponsors added, H2291 [10AP], H2319 [11AP], H3400 [21MY] H.R. 7750 — A bill to amend section 2303 of title 5, United States Code, to require the Inspector General of the Department of Justice to investigate allegations of prohibited against employees of the Federal Bureau of Investigation for whistleblowing, and for other purposes; to the Committee on Oversight and Accountability. By Mr. LANGWORTHY (for himself, Mr. Jordan, Mr. Armstrong, Mr. Gooden of Texas, Mr. Moore of Alabama, Ms. Tenney, Mr. Tiffany, and Mr. Van Drew), H1295 [20MR] Cosponsors added, H1355 [21MR] H.R. 7751 — A bill to require the Secretary of State to report annually on adverse security clearance adjudications, and for other purposes; to the Committee on Foreign Affairs. By Mr. LIEU (for himself, Mr. Castro of Texas, and Mr. Kim of New Jersey), H1295 [20MR] H.R. 7752 — A bill to require employers to provide paid annual leave to employees, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Oversight and Accountability, House Administration, Transportation and Infrastructure, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MAGAZINER (for himself, Ms. Budzinski, Mr. Casar, Ms. Crockett, Ms. Adams, Mr. Amo, Mr. Bowman, Mr. Carson, Mr. Davis of Illinois, Mr. Deluzio, Ms. Escobar, Mr. Robert Garcia of California, Ms. Garcia of Texas, Mr. García of Illinois, Mr. Goldman of New York, Mr. Grijalva, Ms. Hoyle of Oregon, Mr. Huffman, Mr. Jackson of Illinois, Ms. Jayapal, Mr. Khanna, Ms. Lee of Pennsylvania, Mr. Lynch, Mr. McGovern, Mr. Menendez, Mr. Mullin, Mr. Nadler, Mr. Neguse, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Mr. Pocan, Mrs. Ramirez, Ms. Salinas, Ms. Schakowsky, Mr. Schiff, Ms. Stansbury, Ms. Titus, Ms. Tlaib, Ms. Tokuda, Mrs. Trahan, Mrs. Watson Coleman, and Ms. Williams of Georgia), H1295 [20MR] Cosponsors added, H1355 [21MR], H2121 [26MR], H2254 [9AP], H2831 [1MY], H3206 [14MY], H3400 [21MY], H4064 [13JN] H.R. 7753 — A bill to direct the Administrator of the Federal Aviation Administration to conduct a study on the operation of helicopters within a 15 mile radius of the Statue of Liberty National Monument, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MENENDEZ (for himself, Mr. Nadler, Mr. Pallone, Mr. Bowman, Ms. Velázquez, Mr. Goldman of New York, and Mr. Payne), H1295 [20MR] H.R. 7754 — A bill to amend the Colorado Wilderness Act of 1993 to add certain land to the Sarvis Creek Wilderness, and for other purposes; to the Committee on Natural Resources. By Mr. NEGUSE, H1295 [20MR] H.R. 7755 — A bill to protect stateless persons in the United States, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. RASKIN (for himself, Mr. Connolly, Mr. Castro of Texas, Mr. Grijalva, Ms. Lee of California, Mr. McGovern, Ms. Norton, Mrs. Ramirez, Ms. Schakowsky, Mr. Schiff, and Mr. Trone), H1295 [20MR] Cosponsors added, H2143 [5AP], H2876 [6MY], H3275 [15MY] H.R. 7756 — A bill to expand the scope of the Do Not Call rules under the Telephone Consumer Protection Act to include all telephone subscribers, and to expand the private right of action for calls in violation of those rules; to the Committee on Energy and Commerce. By Ms. SCHAKOWSKY, H1295 [20MR] Cosponsors added, H2368 [12AP] H.R. 7757 — A bill to amend the Securities Exchange Act of 1934 to require disclosures with respect to certain financial risks relating to the People’s Republic of China, and for other purposes; to the Committee on Financial Services. By Mr. SHERMAN (for himself and Mrs. Spartz), H1295 [20MR] H.R. 7758 — A bill to prohibit index funds from investing in Chinese companies, and for other purposes; to the Committee on Financial Services. By Mr. SHERMAN (for himself and Mrs. Spartz), H1295 [20MR] H.R. 7759 — A bill to prohibit the purchase of certain securities from covered entities, and for other purposes; to the Committee on Financial Services. By Mr. SHERMAN (for himself and Mrs. Spartz), H1295 [20MR] H.R. 7760 — A bill to amend the Internal Revenue Code of 1986 to treat certain gains and dividends derived from counties of concern as ordinary income; to the Committee on Ways and Means. By Mr. SHERMAN (for himself, Mrs. Spartz, Mr. Doggett, and Mr. Foster), H1295 [20MR] H.R. 7761 — A bill to authorize the Secretary of Education to award grants to create evidence-based student success programs designed to increase participation, retention, and completion rates of high-need students; to the Committee on Education and the Workforce. By Ms. STANSBURY (for herself, Mr. Davis of Illinois, Ms. Norton, and Ms. Velázquez), H1295 [20MR] H.R. 7762 — A bill to amend the Internal Revenue Code of 1986 to establish a new tax credit and grant program to stimulate investment and healthy nutrition options in food deserts, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. SYKES (for herself and Ms. McClellan), H1295 [20MR] H.R. 7763 — A bill to establish the Artist Compensation Royalty Fund, and for other purposes; to the Committee on the Judiciary. By Ms. TLAIB (for herself, Mr. Bowman, Mr. Thompson of Mississippi, Mrs. Ramirez, and Ms. Ocasio-Cortez), H1295 [20MR] Cosponsors added, H3000 [8MY] H.R. 7764 — A bill to establish a commission to study the potential transfer of the Weitzman National Museum of American Jewish History to the Smithsonian Institution, and for other purposes; to the Committee on House Administration. By Ms. WASSERMAN SCHULTZ (for herself, Mr. Turner, Mr. Boyle of Pennsylvania, and Mr. Miller of Ohio), H1295 [20MR] Cosponsors added, H1355 [21MR], H2143 [5AP], H2254 [9AP], H2623 [20AP], H2629 [23AP], H2702 [29AP], H2771 [30AP], H2836 [2MY], H2876 [6MY], H3206 [14MY], H3331 [16MY], H3675 [5JN], H4115 [18JN] H.R. 7765 — A bill to direct the Secretary of Veterans Affairs to carry out a pilot program to use weapon screening technology at medical centers of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. WILLIAMS of New York, H1352 [21MR] H.R. 7766 — A bill to require the National Institute of Standards and Technology to establish task forces to facilitate and inform the development of technical standards and guidelines relating to the identification of content created by generative artificial intelligence, to ensure that audio or visual content created or substantially modified by generative artificial intelligence includes a disclosure acknowledging the generative artificial intelligence origin of such content, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. ESHOO (for herself, Mr. Dunn of Florida, Mr. Beyer, and Mrs. Foushee), H1352 [21MR] Cosponsors added, H2136 [2AP], H2399 [15AP], H2629 [23AP], H2939 [7MY], H3000 [8MY], H3206 [14MY], H3486 [22MY], H3535 [28MY], H3543 [31MY], H3675 [5JN] H.R. 7767 — A bill to amend the Uniform Code of Military Justice to expand the definition of aiding the enemy to include the provision of military education, military training, and tactical advice; to the Committee on Armed Services. By Mr. LUTTRELL (for himself, Mr. Deluzio, Ms. Slotkin, and Mr. Strong), H1352 [21MR] H.R. 7768 — A bill to designate the facility of the United States Postal Service located at 265 Main Street in Philo, Ohio, as the ‘‘Samuel J. Mitchell Jr. Post Office’’; to the Committee on Oversight and Accountability. By Mr. BALDERSON (for himself, Mr. Miller of Ohio, Mr. Landsman, Mr. Carey, Mr. Wenstrup, Mr. Latta, and Mr. Jordan), H1352 [21MR] Cosponsors added, H1500 [22MR], H2254 [9AP] H.R. 7769 — A bill to amend the Agriculture Improvement Act of 2018 to reauthorize the Commission on Farm Transitions-Needs for 2050, and for other purposes; to the Committee on Agriculture. By Ms. CARAVEO (for herself, Mr. Kelly of Mississippi, Mr. Davis of North Carolina, and Mr. Nunn of Iowa), H1352 [21MR] H.R. 7770 — A bill to require the Secretary of the Treasury to mint coins in commemoration of the women who contributed to the Home Front during World War II, and for other purposes; to the Committee on Financial Services. By Mr. GARAMENDI (for himself, Mr. Huffman, Mr. Mullin, Mr. Fitzpatrick, Mrs. Dingell, and Mr. DeSaulnier), H1352 [21MR] Cosponsors added, H2291 [10AP], H2636 [26AP], H2702 [29AP], H2876 [6MY], H3000 [8MY], H3206 [14MY], H3275 [15MY], H3331 [16MY], H3358 [17MY], H3400 [21MY], H3486 [22MY], H3526 [23MY], H3543 [31MY], H3657 [4JN], H3727 [11JN], H4110 [14JN], H4115 [18JN] H.R. 7771 — A bill to amend title 36, United States Code, to designate ‘‘National Rosie the Riveter Day’’ and request the President to issue an annual proclamation; to the Committee on Oversight and Accountability. By Mr. GARAMENDI (for himself, Mr. Huffman, Mr. Mullin, Mr. Fitzpatrick, Mrs. Dingell, and Mr. DeSaulnier), H1352 [21MR] Cosponsors added, H2291 [10AP], H2636 [26AP], H2702 [29AP], H3000 [8MY], H3206 [14MY], H3358 [17MY], H3400 [21MY], H3486 [22MY], H3526 [23MY], H4110 [14JN] H.R. 7772 — A bill to restrict certain Federal assistance benefits to individuals verified to be citizens of the United States; to the Committee on Oversight and Accountability. By Mr. GROTHMAN (for himself, Mr. Burchett, and Mr. Baird), H1352 [21MR] Cosponsors added, H2254 [9AP] H.R. 7773 — A bill to amend title 38, United States Code, to provide additional entitlement to Post-9/11 Educational Assistance to certain veterans and members of the Armed Forces who require extra time to complete remedial and deficiency courses, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. HORSFORD (for himself, Mr. Raskin, and Mr. Moulton), H1352 [21MR] H.R. 7774 — A bill to amend title 10, United States Code, to make certain improvements in the laws administered by the Secretary of Defense relating to the consideration of the human rights records of recipients of certain support, and for other purposes; to the Committee on Armed Services. By Ms. JACOBS, H1352 [21MR] H.R. 7775 — A bill to prohibit the procurement of certain items containing perfluorooctane sulfonate (PFOS) or perfluorooctanoic acid (PFOA) and prioritize the procurement of products not containing PFAS; to the Committee on Oversight and Accountability. By Mr. LAWLER (for himself, Mr. Fitzpatrick, Mr. Posey, Mr. Pappas, Ms. Perez, Ms. Porter, and Ms. Stevens), H1352 [21MR] Cosponsors added, H2702 [29AP] H.R. 7776 — A bill to amend the Boulder Canyon Project Act to authorize the Secretary of the Interior to expend amounts in the Colorado River Dam fund, and for other purposes; to the Committee on Natural Resources. By Ms. LEE of Nevada (for herself, Mr. Amodei, Mr. Horsford, Ms. Titus, Mr. Ciscomani, Mr. Gallego, Mr. Gosar, Mrs. Lesko, Mr. Stanton, and Mrs. Napolitano), H1352 [21MR] Cosponsors added, H2399 [15AP] H.R. 7777 — A bill to increase, effective as of December 1, 2024, the rates of compensation for veterans with service-connected disabilities and the rates of dependency and indemnity compensation for the survivors of certain disabled veterans, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. LUTTRELL (for himself and Mr. Pappas), H1352 [21MR] H.R. 7778 — A bill to amend title 18, United States Code, to expand the scope of the prohibition against video voyeurism; to the Committee on the Judiciary. By Ms. MACE (for herself and Mr. Tiffany), H1352 [21MR] Cosponsors added, H1500 [22MR] H.R. 7779 — A bill to promote remediation of abandoned hardrock mines, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Energy and Commerce, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MALOY (for herself, Mrs. Peltola, Mr. Curtis, Ms. Lee of Nevada, Mr. Fulcher, Mr. Costa, and Mr. Moore of Utah), H1352 [21MR] Cosponsors added, H1500 [22MR], H2319 [11AP], H2702 [29AP], H2771 [30AP], H3206 [14MY], H3358 [17MY], H3526 [23MY], H3727 [11JN] H.R. 7780 — A bill to amend the Internal Revenue Code of 1986 to prohibit certain retirement plans from making investment decisions on the basis of factors other than financial risk and return factors; to the Committee on Ways and Means. By Mr. MURPHY (for himself, Mr. Kelly of Pennsylvania, Ms. Tenney, and Ms. Van Duyne), H1353 [21MR] H.R. 7781 — A bill to require a report on the economic and national security risks posed by the use of artificial intelligence in the commission of financial crimes, including fraud and the dissemination of misinformation, and for other purposes; to the Committee on Financial Services. By Mr. NUNN of Iowa (for himself and Ms. Spanberger), H1353 [21MR] H.R. 7782 — A bill to provide economic empowerment opportunities in the United States through the modernization of public housing, and for other purposes; to the Committee on Financial Services. By Ms. OCASIO-CORTEZ (for herself, Mrs. Ramirez, Ms. Schakowsky, Mr. Bowman, Mr. Grijalva, Mr. Nadler, Mr. Blumenauer, Ms. Tlaib, Mr. Khanna, Mr. Huffman, Mr. Robert Garcia of California, Ms. Lee of Pennsylvania, Mr. Espaillat, Mr. McGovern, Ms. Pingree, Mr. García of Illinois, Ms. Barragán, Ms. Velázquez, Ms. Bush, Mrs. Watson Coleman, Ms. Lee of California, Mrs. Dingell, Ms. Norton, Mr. Gomez, Ms. Pressley, Mrs. Napolitano, Ms. Stansbury, Mr. Mullin, Mr. Raskin, Mr. Johnson of Georgia, Ms. Clarke of New York, Mr. Jackson of Illinois, Mr. Boyle of Pennsylvania, Ms. Balint, Mr. Tonko, Ms. Meng, Mr. Casar, Ms. Jayapal, Mr. Torres of New York, Mr. Smith of Washington, Mr. Goldman of New York, Mr. Meeks, Mr. Frost, Mr. Lieu, Mr. Carter of Louisiana, Ms. Sánchez, Mr. Thanedar, Ms. Wilson of Florida, Ms. Omar, Mr. Swalwell, Ms. McCollum, Mr. Davis of Illinois, Mr. Suozzi, Mr. Ivey, Mr. Cohen, and Mr. Takano), H1353 [21MR] Cosponsors added, H2131 [29MR], H2143 [5AP] H.R. 7783 — A bill to nullify certain documents issued by the Equal Employment Opportunity Commission relating to gender-based workplace discrimination; to the Committee on Education and the Workforce. By Mr. OGLES (for himself, Mr. Wilson of South Carolina, Mr. Fitzgerald, Mr. Good of Virginia, Mrs. Miller of Illinois, Mr. LaMalfa, and Mr. Timmons), H1353 [21MR] H.R. 7784 — A bill to amend the Labor-Management Reporting and Disclosure Act of 1959 to clarify reporting requirements; to the Committee on Education and the Workforce. By Mr. OWENS, H1353 [21MR] Cosponsors added, H3400 [21MY] H.R. 7785 — A bill to make additional Federal public land available for selection under the Alaska Native Vietnam era veterans land allotment program, and for other purposes; to the Committee on Natural Resources. By Mrs. PELTOLA, H1353 [21MR] H.R. 7786 — A bill to amend the Federal Power Act to authorize the Federal Energy Regulatory Commission to issue permits for the construction and modification of national interest high-impact transmission facilities, and for other purposes; to the Committee on Energy and Commerce. By Mr. PETERS, H1353 [21MR] H.R. 7787 — A bill to establish the Federal Labor-Management Partnership Council, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. RASKIN (for himself, Ms. Norton, Mr. Sarbanes, Mr. Trone, and Mr. Connolly), H1353 [21MR] H.R. 7788 — A bill to amend the Public Health Service Act to establish the Firefighter PFAS Injury Compensation Program, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SOTO, H1353 [21MR] H.R. 7789 — A bill to prohibit the Department of Defense from offering services through, or maintaining a business relationship with, Tutor.com; to the Committee on Armed Services. By Ms. STEFANIK, H1353 [21MR] H.R. 7790 — A bill to increase the participation of historically underrepresented demographic groups in science, technology, engineering, and mathematics education and industry; to the Committee on Science, Space, and Technology. By Ms. STRICKLAND (for herself, Ms. Brown, Mr. Cohen, Ms. Clarke of New York, Mr. Evans, Ms. Chu, Mr. Huffman, Mr. Soto, Mrs. Watson Coleman, Ms. Norton, Ms. Ross, Mrs. Beatty, and Mr. Grijalva), H1353 [21MR] Cosponsors added, H2143 [5AP], H3400 [21MY] H.R. 7791 — A bill to amend the Internal Revenue Code of 1986 to postpone tax deadlines and reimburse paid late fees for United States nationals who are unlawfully or wrongfully detained or held hostage abroad, and for other purposes; to the Committee on Ways and Means. By Ms. TITUS (for herself, Ms. Stevens, Mr. Hill, Mr. Beyer, and Ms. Tenney), H1497 [22MR] H.R. 7792 — A bill to direct the Director of the Office of Management and Budget to establish a separate, unique North American Industry Classification System code for health care facility janitorial services, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SESSIONS, H1497 [22MR] H.R. 7793 — A bill to amend title 38, United States Code, to provide an individual with a claim for benefits under the laws administered by the Secretary of Veterans Affairs with more options to appeal a decision of the Secretary with respect to such claim to the Board of Veterans’ Appeals, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. BOST (for himself, Ms. Stefanik, and Mr. Bilirakis), H1497 [22MR] H.R. 7794 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to include certain retired law enforcement officers in the public safety officers’ death benefits program; to the Committee on the Judiciary. By Mr. BARR, H1497 [22MR] Cosponsors added, H3206 [14MY] H.R. 7795 — A bill to amend the Endangered Species Act of 1973 to prohibit the taking for a trophy of any endangered or threatened species of fish or wildlife in the United States and the importation of endangered and threatened species trophies into the United States, and for other purposes; to the Committee on Natural Resources. By Ms. JACKSON LEE (for herself, Mr. Goldman of New York, Ms. Norton, Ms. Lee of California, Mr. Gottheimer, Ms. McCollum, Mr. Suozzi, Mr. Soto, Mr. Payne, Ms. DeLauro, Ms. Pelosi, Mr. Raskin, and Mrs. Dingell), H1497 [22MR] Cosponsors added, H2121 [26MR] H.R. 7796 — A bill to amend the Elementary and Secondary Education Act of 1965 to authorize the use of Student Support and Academic Enrichment Grants for the development and maintenance of school and community gardens, and for other purposes; to the Committee on Education and the Workforce. By Ms. BROWN (for herself, Ms. Plaskett, Mr. Carey, and Mr. Jackson of Illinois), H1497 [22MR] Cosponsors added, H2368 [12AP], H2445 [16AP] H.R. 7797 — A bill to direct the Secretary of Energy to establish a pilot program on ocean fertilization and restoration research and development, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. CARTER of Georgia, H1497 [22MR] H.R. 7798 — A bill to amend the Plant Protection Act to establish a fund for spotted wing drosophila research and mitigation, and for other purposes; to the Committee on Agriculture. By Mrs. CHAVEZ-DeREMER (for herself, Ms. Slotkin, Mr. Valadao, and Ms. Salinas), H1497 [22MR] H.R. 7799 — A bill to provide for an annual report on the prosecution activities of the Coordinator for Caribbean Firearms Prosecutions of the Department of Justice; to the Committee on the Judiciary. By Mrs. CHERFILUS-McCORMICK (for herself and Mr. Castro of Texas), H1497 [22MR] Cosponsors added, H2143 [5AP], H2368 [12AP], H2503 [17AP], H3007 [10MY] H.R. 7800 — A bill to direct the United States Postal Service to designate a single, unique ZIP Code for Scotland, Connecticut; to the Committee on Oversight and Accountability. By Mr. COURTNEY, H1497 [22MR] H.R. 7801 — A bill to require the Secretary of the Treasury to mint coins to honor and memorialize the tragedy of the Sultana steamboat explosion of 1865; to the Committee on Financial Services. By Mr. CRAWFORD (for himself, Mr. Cohen, Mr. Larson of Connecticut, Mr. Hill, Mr. Westerman, Mr. Womack, Mr. Graves of Missouri, Mr. Connolly, Mr. Krishnamoorthi, and Mr. Takano), H1497 [22MR] Cosponsors added, H2143 [5AP] H.R. 7802 — A bill to designate the facility of the United States Postal Service located at 400 Whitehead Street in Key West, Florida, as the ‘‘Jimmy Buffett Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. GIMENEZ (for himself, Mr. Dunn of Florida, Mrs. Cammack, Mr. Posey, Mr. Webster of Florida, Mr. Bilirakis, Mr. Scott Franklin of Florida, Mr. Mast, Mr. Diaz-Balart, and Ms. Salazar), H1497 [22MR] Cosponsors added, H2629 [23AP], H2702 [29AP], H2831 [1MY], H2876 [6MY], H2939 [7MY], H3206 [14MY], H3331 [16MY], H3583 [3JN], H3682 [7JN] H.R. 7803 — A bill to amend title 35, United States Code, to provide a good faith exception to the imposition of certain fines, and for other purposes; to the Committee on the Judiciary. By Mr. ISSA (for himself and Mr. Johnson of Georgia), H1497 [22MR] Cosponsors added, H3206 [14MY] H.R. 7804 — A bill to establish the Proprietary Education Interagency Oversight Coordination Committee and facilitate the disclosure and reporting of information regarding complaints and investigations related to proprietary institutions of higher education eligible to receive Federal education assistance; to the Committee on Education and the Workforce. By Mr. JACKSON of North Carolina (for himself, Ms. Adams, Ms. Bonamici, Mr. Bowman, Ms. DeLauro, Ms. Jayapal, Mr. Schiff, and Ms. Waters), H1497 [22MR] Cosponsors added, H2131 [29MR] H.R. 7805 — A bill to amend the Immigration and Nationality Act with respect to the right of members of a federally recognized Indian Tribe in the United States and First Nations individuals in Canada to cross the borders of the United States and to be considered lawfully admitted for permanent residence; to the Committee on the Judiciary. By Mr. KILMER (for himself, Mr. Fulcher, and Mrs. Peltola), H1497 [22MR] H.R. 7806 — A bill to provide compensation for United States victims of Libyan state-sponsored terrorism, and for other purposes; to the Committee on Foreign Affairs. By Ms. LOFGREN (for herself and Mrs. Kim of California), H1497 [22MR] H.R. 7807 — A bill to create intergovernmental coordination between State, local, Tribal, and territorial jurisdictions, and the Federal Government to combat United States reliance on the People’s Republic of China and other covered countries for critical minerals and rare earth metals, and for other purposes; to the Committee on Natural Resources. By Mr. OBERNOLTE, H1497 [22MR] Cosponsors added, H2254 [9AP], H2445 [16AP], H3543 [31MY] H.R. 7808 — A bill to amend title XIX of the Public Health Service Act to provide for prevention and early intervention services under the Block Grants for Community Mental Health Services program, and for other purposes; to the Committee on Energy and Commerce. By Mr. PFLUGER (for himself, Ms. Castor of Florida, Mr. Joyce of Pennsylvania, and Mr. Sarbanes), H1497 [22MR] Cosponsors added, H2254 [9AP], H2368 [12AP], H2771 [30AP], H2876 [6MY], H3400 [21MY], H3727 [11JN], H4110 [14JN] H.R. 7809 — A bill to establish a State public option through Medicaid to provide Americans with the choice of a high-quality, low-cost health insurance plan; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SCHRIER (for herself, Ms. McCollum, Mr. Swalwell, Mr. Cohen, Mr. Tonko, Ms. Norton, Ms. Matsui, Ms. Omar, Mr. Phillips, and Ms. Moore of Wisconsin), H1497 [22MR] H.R. 7810 — A bill to amend the Higher Education Act of 1965 to clarify the clock hour requirements for certain eligible programs under title IV of such Act; to the Committee on Education and the Workforce. By Mr. SMUCKER (for himself, Mr. Thompson of Pennsylvania, Mr. Meuser, Mr. Van Orden, and Mr. Lawler), H1498 [22MR] Cosponsors added, H2939 [7MY] H.R. 7811 — A bill to authorize the Secretary of Education to award grants to create evidence-based student success programs designed to increase participation, retention, and completion rates of high-need students; to the Committee on Education and the Workforce. By Ms. STANSBURY (for herself, Mrs. Chavez-DeRemer, Mr. Davis of Illinois, Ms. Norton, and Ms. Velázquez), H1498 [22MR] H.R. 7812 — A bill to Direct the Secretary of Health and Human Services to carry out a grant program to support the establishment of a national, toll-free telephone helpline to provide information and assistance to parents, caregivers, and youth to prevent child abuse and strengthen families; to the Committee on Education and the Workforce. By Mrs. TORRES of California (for herself, Ms. Norton, Ms. Clarke of New York, Mr. Allred, Ms. Chu, and Mr. Grijalva), H1498 [22MR] Cosponsors added, H2254 [9AP] H.R. 7813 — A bill to amend the Internal Revenue Code of 1986 to require an individual to provide a social security number to claim the child tax credit; to the Committee on Ways and Means. By Mr. VAN DREW (for himself, Ms. Hageman, Mrs. Miller of Illinois, Mr. Nehls, Mr. Lamborn, Mr. Gosar, and Mr. Moore of Alabama), H1498 [22MR] Cosponsors added, H2254 [9AP], H2368 [12AP], H2503 [17AP] H.R. 7814 — A bill to amend the Internal Revenue Code of 1986 to exclude from gross income certain federally subsidized loan repayments for dental school faculty; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VAN DREW (for himself, Ms. Clarke of New York, Mr. Simpson, and Mr. Babin), H1498 [22MR] Cosponsors added, H2254 [9AP], H2399 [15AP], H2503 [17AP], H3531 [24MY] H.R. 7815 — A bill to authorize the Secretary of Health and Human Services, acting through the Administrator of the Health Resources and Services Administration, to award grants to expand and improve maternal health care services, and for other purposes; to the Committee on Energy and Commerce. By Ms. WATERS (for herself, Ms. Underwood, Ms. Schakowsky, Ms. Lee of California, Ms. Barragán, Mr. Schiff, Ms. Norton, Mr. Cleaver, Mr. Larson of Connecticut, Mr. Johnson of Georgia, Mr. Vargas, Ms. Tlaib, Ms. Salinas, Ms. Brown, Mr. Thanedar, Mr. Carter of Louisiana, Ms. Escobar, Ms. Jackson Lee, Mr. Carson, Mr. Jackson of Illinois, Mr. Mullin, Mrs. Ramirez, Mr. Cohen, Ms. Clarke of New York, Mr. Trone, Mr. Gottheimer, Mr. Swalwell, Ms. Adams, and Ms. Dean of Pennsylvania), H1498 [22MR] Cosponsors added, H2131 [29MR], H3007 [10MY] H.R. 7816 — A bill to direct the Secretary of Veterans Affairs to seek to enter into an agreement with a federally funded research and development center for an assessment of notice letters that the Secretary sends to claimants for benefits under laws administered by the Secretary, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. DUARTE (for himself, Mr. Bost, Mr. Valadao, Ms. Salazar, Mr. D’Esposito, and Ms. Budzinski), H2119 [26MR] Cosponsors added, H2143 [5AP], H2254 [9AP], H2319 [11AP] H.R. 7817 — A bill to amend the Endangered Species Act of 1973 to exclude certain populations of the lake sturgeon from the authority of such Act; to the Committee on Natural Resources. By Mr. BERGMAN (for himself and Mr. Moolenaar), H2119 [26MR] H.R. 7818 — A bill to exempt certain structures from removal from Army Corps of Engineers property on Table Rock Lake, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. BURLISON, H2119 [26MR] H.R. 7819 — A bill to ensure that the percentage increase in rates of basic pay for prevailing wage employees shall be equal to the percentage increase received by other Federal employees in the same pay locality, and for other purposes; to the Committee on Oversight and Accountability. By Mr. CARTWRIGHT, H2119 [26MR] H.R. 7820 — A bill to amend the Public Health Service Act to direct the Secretary of Health and Human Services to conduct a public health education, awareness, and outreach campaign to enhance access to abortion and related health services; to the Committee on Energy and Commerce. By Ms. CROCKETT (for herself and Mr. Goldman of New York), H2119 [26MR] Cosponsors added, H2368 [12AP], H4115 [18JN] H.R. 7821 — A bill to amend the Internal Revenue Code of 1986 to provide for a tax credit with respect to fighting retail crime, and for other purposes; to the Committee on Ways and Means. By Mr. GALLEGO, H2119 [26MR] H.R. 7822 — A bill to amend the Immigration and Nationality Act with respect to visa overstays; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TONY GONZALES of Texas, H2119 [26MR] H.R. 7823 — A bill to amend the Federal Food, Drug, and Cosmetic Act to require a warning label advising that the effects of mifepristone can be counteracted, to amend the Public Health Service Act to establish a hotline to provide information to women seeking to counteract the effects of mifepristone, and for other purposes; to the Committee on Energy and Commerce. By Mrs. MILLER of Illinois (for herself, Mr. Babin, Ms. Hageman, Mr. Rosendale, Mrs. Harshbarger, Mr. Banks, and Mr. Webster of Florida), H2119 [26MR] Cosponsors added, H2254 [9AP] H.R. 7824 — A bill to direct the Office for Victims of Crime of the Department of Justice to implement anti-trafficking recommendations of the Government Accountability Office; to the Committee on the Judiciary. By Mr. OWENS (for himself and Mr. Johnson of Georgia), H2120 [26MR] Cosponsors added, H2254 [9AP] H.R. 7825 — A bill to direct the Federal Trade Commission to issue regulations to establish shrinkflation as an unfair or deceptive act or practice, and for other purposes; to the Committee on Energy and Commerce. By Ms. PEREZ (for herself and Mr. Deluzio), H2120 [26MR] Cosponsors added, H2131 [29MR], H2503 [17AP], H2636 [26AP], H2939 [7MY], H3000 [8MY], H3331 [16MY], H3400 [21MY], H3675 [5JN], H3682 [7JN] H.R. 7826 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 with respect to certain grants authorized for Edward Byrne Memorial Justice Assistance Grant Program; to the Committee on the Judiciary. By Mr. SCHIFF (for himself, Mr. Huffman, Mr. Espaillat, Mr. Ruiz, Ms. Moore of Wisconsin, Ms. Salinas, Ms. Titus, and Ms. Brownley), H2120 [26MR] Cosponsors added, H2131 [29MR], H2136 [2AP], H2939 [7MY], H3331 [16MY] H.R. 7827 — A bill to amend the Federal Food, Drug, and Cosmetic Act to encourage the development of vaccines to prevent, treat, or mitigate opioid, cocaine, methamphetamine, or alcohol use disorder, to establish an x-prize for the development of such a vaccine, and for other purposes; to the Committee on Energy and Commerce. By Mr. SCHWEIKERT, H2120 [26MR] H.R. 7828 — A bill to prohibit the pricing of consumer products and services that are substantially similar if such products or services are priced differently based on the gender of the individuals for whose use the products are intended or marketed or for whom the services are performed or offered; to the Committee on Energy and Commerce. By Mrs. TORRES of California (for herself, Mrs. Beatty, Ms. Bonamici, Mr. Bowman, Ms. Brownley, Ms. Clarke of New York, Ms. Chu, Mr. Connolly, Ms. Dean of Pennsylvania, Mrs. Dingell, Ms. Lois Frankel of Florida, Mr. Frost, Ms. Garcia of Texas, Mr. Green of Texas, Mr. Johnson of Georgia, Mrs. Hayes, Mr. Khanna, Ms. Kelly of Illinois, Ms. Moore of Wisconsin, Ms. Norton, Ms. Omar, Mr. Pocan, Mrs. Ramirez, Mr. Schiff, Ms. Titus, Ms. Velázquez, Ms. Wasserman Schultz, and Mrs. Watson Coleman), H2120 [26MR] Cosponsors added, H3727 [11JN] H.R. 7829 — A bill to amend title XVIII of the Social Security Act to improve the payment method for oxygen and oxygen related equipment, supplies, and services, to increase beneficiary access to oxygen and oxygen related equipment, supplies, and services, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VALADAO (for himself, Mr. Bucshon, Mr. Smith of Nebraska, and Ms. Brownley), H2120 [26MR] Cosponsors added, H2254 [9AP], H2939 [7MY], H3007 [10MY], H3400 [21MY], H3583 [3JN], H3727 [11JN], H4110 [14JN] H.R. 7830 — A bill to amend the Internal Revenue Code of 1986 to expand the surviving spouse filing status to individuals whose spouses have died within the last five taxable years; to the Committee on Ways and Means. By Mr. VAN DREW, H2120 [26MR] Cosponsors added, H2503 [17AP] H.R. 7831 — A bill to impose a financial penalty on certain institutions of higher education with high percentages of students who default or make insufficient payments on Federal student loans, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. VAN DUYNE, H2120 [26MR] H.R. 7832 — A bill to require the Secretary of Homeland Security to develop a plan to identify, integrate, and deploy new, innovative, disruptive, or other emerging or advanced technologies to enhance, or address capability gaps in, border security operations, and for other purposes; to the Committee on Homeland Security. By Mr. CORREA (for himself and Mr. Luttrell), H2128 [29MR] Reported (H. Rept. 118–544), H3678 [7JN] H.R. 7833 — A bill to amend the Immigration and Nationality Act to make changes related to family-sponsored immigrants and to reduce the number of such immigrants, and for other purposes; to the Committee on the Judiciary. By Mr. CRANE (for himself, Mr. Biggs, Mr. Rosendale, Mr. Good of Virginia, Mr. Posey, Mrs. Miller of Illinois, and Mr. Ogles), H2128 [29MR] Cosponsors added, H3275 [15MY] H.R. 7834 — A bill to improve the licensing requirements for the retail sale of firearms, and for other purposes; to the Committee on the Judiciary. By Mr. FROST (for himself, Mr. Neguse, Mrs. Ramirez, and Ms. Kelly of Illinois), H2128 [29MR] H.R. 7835 — A bill to amend title 5, United States Code, to increase the accountability of the Office of Special Counsel in enforcing certain provisions of that title vigorously, consistently, and without regard to the political affiliation, career status, or personal characteristics of individuals subject to those provisions, and for other purposes; to the Committee on Oversight and Accountability. By Mr. ROBERT GARCIA of California, H2128 [29MR] H.R. 7836 — A bill to amend the Harmonized Tariff Schedule of the United States to provide for permanent duty-free treatment on imports of basketballs; to the Committee on Ways and Means. By Mr. GUTHRIE, H2128 [29MR] H.R. 7837 — A bill to amend the Foreign Intelligence Surveillance Act of 1978 to include counternarcotics in the definition of foreign intelligence; to the Committee on the Judiciary, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. HOULAHAN (for herself, Mr. Crenshaw, Mr. Gottheimer, Mr. Ellzey, and Mr. Trone), H2128 [29MR] Cosponsors added, H2254 [9AP] H.R. 7838 — A bill to require the Commandant of the Coast Guard to submit a report on the implementation of certain recommendations for improving the Coast Guard housing program, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. KILMER (for himself and Mr. D’Esposito), H2128 [29MR] Cosponsors added, H2319 [11AP] H.R. 7839 — A bill to amend the Better Utilization of Investments Leading to Development Act 2018 to prioritize support to projects under that Act that increase digital infrastructure and connectivity; to the Committee on Foreign Affairs. By Mr. LARSEN of Washington (for himself and Ms. DelBene), H2128 [29MR] H.R. 7840 — A bill to amend the Endangered Species Act of 1973 to prohibit the taking for a trophy of any endangered or threatened species of fish or wildlife in the United States and the importation of endangered and threatened species trophies into the United States, and for other purposes; to the Committee on Natural Resources. By Ms. JACKSON LEE (for herself, Mr. Lieu, Ms. Clark of Massachusetts, Ms. Pelosi, Ms. DeLauro, Ms. Lee of California, Ms. Norton, Ms. McCollum, Mr. Payne, Mrs. Dingell, Mr. Raskin, Mr. Gottheimer, Mr. Soto, Mr. Suozzi, and Mr. Goldman of New York), H2128 [29MR] Cosponsors added, H2143 [5AP], H3206 [14MY] H.R. 7841 — A bill to amend title 18, United States Code, to ensure requests for data on individuals do not pertain to reproductive services; to the Committee on the Judiciary. By Mr. LIEU (for himself, Ms. Jacobs, Ms. Ross, Ms. Scholten, and Mr. Frost), H2128 [29MR] Cosponsors added, H3400 [21MY] H.R. 7842 — A bill to amend section 405 of title 23, United States Code, to permit a State to use grant funds for the purpose of providing on-bicycle education, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MAGAZINER (for himself, Mr. Cleaver, Ms. McCollum, and Ms. Norton), H2128 [29MR] Cosponsors added, H2503 [17AP], H3206 [14MY] H.R. 7843 — A bill to direct the Secretary of Defense to enter into a Memorandum of Understanding with the United States Environmental Protection Agency and Guam Environmental Protection Agency to conduct necessary environmental inspections at military instillations in Guam; to the Committee on Armed Services. By Mr. MOYLAN (for himself, Mr. Gimenez, and Mr. Veasey), H2128 [29MR] H.R. 7844 — A bill to direct the Secretary of Education to establish a competitive grant program to award grants to local educational agencies to address implicit bias in elementary and secondary schools, and for other purposes; to the Committee on Education and the Workforce. By Ms. NORTON, H2128 [29MR] Cosponsors added, H2939 [7MY] H.R. 7845 — A bill to designate the Washington Dulles International Airport in Virginia as the ‘‘Donald J. Trump International Airport’’; to the Committee on Transportation and Infrastructure. By Mr. RESCHENTHALER (for himself, Mr. Waltz, Mr. Ogles, Mr. Fleischmann, Mr. Gosar, Mr. Moore of Alabama, and Mr. Nehls), H2128 [29MR] Cosponsors added, H2143 [5AP], H2254 [9AP], H2319 [11AP] H.R. 7846 — A bill to prohibit Federal personnel charged with certain criminal offenses from receiving classified information, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SHERRILL (for herself and Ms. Slotkin), H2128 [29MR] H.R. 7847 — A bill to amend title 23, United States Code, to remove the exclusion of the State of Minnesota from certain contracting for engineering and design services requirements; to the Committee on Transportation and Infrastructure. By Mr. STAUBER (for himself, Mr. Finstad, Ms. Craig, Mr. Phillips, and Mrs. Fischbach), H2128 [29MR] H.R. 7848 — A bill to update the National Action Plan for Adverse Drug Event Prevention to consider advances in pharmacogenomic research and testing, to improve electronic health records for pharmacogenomic information, and for other purposes; to the Committee on Energy and Commerce. By Mr. SWALWELL (for himself and Mr. Crenshaw), H2128 [29MR] H.R. 7849 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to require the President to establish an individual household disaster mitigation program, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. THOMPSON of California (for himself and Mr. LaMalfa), H2128 [29MR] Cosponsors added, H2143 [5AP], H2254 [9AP], H2291 [10AP], H2319 [11AP], H2368 [12AP], H2503 [17AP], H2623 [20AP], H2636 [26AP], H2831 [1MY], H2939 [7MY], H3206 [14MY], H3275 [15MY], H3331 [16MY], H3486 [22MY], H3531 [24MY], H3543 [31MY], H3583 [3JN], H3976 [12JN] H.R. 7850 — A bill to amend the Food Security Act of 1985 to provide a waiver to the payment limitation under the Environmental Quality Incentives Program, and for other purposes; to the Committee on Agriculture. By Ms. TOKUDA (for herself, Mr. Moylan, and Mr. Case), H2128 [29MR] Cosponsors added, H3275 [15MY] H.R. 7851 — A bill to amend title 23, United States Code, to establish additional requirements for bridge projects funded under such title, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. VAN DREW, H2128 [29MR] H.R. 7852 — A bill to amend the Internal Revenue Code of 1986 to allow employers a credit against income tax for employees who participate in qualified apprenticeship programs; to the Committee on Ways and Means. By Ms. WILSON of Florida, H2128 [29MR] H.R. 7853 — A bill to require executive branch employees to report certain royalties, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GRIFFITH (for himself, Mr. Davidson, and Mr. Dunn of Florida), H2135 [2AP] Cosponsors added, H2254 [9AP] H.R. 7854 — A bill to require schools and child welfare agencies to be notified when an unaccompanied minor is placed in the jurisdiction of such schools and agencies; to the Committee on the Judiciary. By Mr. GRIFFITH, H2135 [2AP] H.R. 7855 — A bill to amend the Public Health Service Act to authorize rural residency planning and development grant programs, and for other purposes; to the Committee on Energy and Commerce. By Ms. CARAVEO (for herself and Mrs. Miller of West Virginia), H2135 [2AP] Cosponsors added, H2254 [9AP], H2831 [1MY] H.R. 7856 — A bill to amend title XVIII of the Social Security Act to provide for coverage of the Medicare Diabetes Prevention program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. DeGETTE (for herself, Mr. Bilirakis, and Mr. Crow), H2135 [2AP] Cosponsors added, H2254 [9AP] H.R. 7857 — A bill to require the Director of the Federal Housing Finance Agency to issue a rule to condition the purchase of a residential mortgage loan on the delivery of credit reports and credit scores from each consumer reporting agency that compiles and maintains files on consumers on a nationwide basis, and for other purposes; to the Committee on Financial Services. By Mr. FITZGERALD (for himself, Mr. Meuser, and Mr. Mooney), H2135 [2AP] Cosponsors added, H2254 [9AP], H3675 [5JN], H3727 [11JN] H.R. 7858 — A bill to amend title XVIII of the Social Security Act to establish a Medicare incident to modifier for mental health services furnished through telehealth; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. JAMES (for himself, Mr. Schweikert, and Mr. Davis of North Carolina), H2135 [2AP] H.R. 7859 — A bill to authorize the integration and administrative streamlining of Federal funding for Indian Tribes that have reservations, other Tribal lands, or ways of life at risk due to environmental impacts and natural disasters, and for other purposes; to the Committee on Natural Resources. By Mr. KILMER (for himself, Mr. Simpson, Ms. Perez, and Mr. Cole), H2135 [2AP] Cosponsors added, H2319 [11AP], H3400 [21MY], H3535 [28MY], H3657 [4JN] H.R. 7860 — A bill to direct the Secretary of Defense to periodically publish a report with respect to any human toxic exposures in Guam during the period beginning on August 15, 1958, and ending on July 31, 1980, and for other purposes; to the Committee on Armed Services. By Mr. MOYLAN, H2135 [2AP] H.R. 7861 — A bill to require the Secretary of the Treasury to mint commemorative coins in recognition of Paul Laurence Dunbar; to the Committee on Financial Services. By Ms. NORTON, H2135 [2AP] H.R. 7862 — A bill to direct the Secretary of Housing and Urban Development to undertake activities to facilitate the conversion of certain buildings owned by Federal, State, or local government into affordable residential rental projects, and for other purposes; to the Committee on Financial Services. By Mr. SCHIFF (for himself, Mr. Gomez, and Mr. Amo), H2135 [2AP] Cosponsors added, H2319 [11AP], H2876 [6MY], H3000 [8MY], H3206 [14MY], H3331 [16MY], H3400 [21MY], H3535 [28MY] H.R. 7863 — A bill to require the Secretary of Health and Human Services to issue guidance on furnishing behavioral health services via telehealth to individuals with limited English proficiency under Medicare program; to the Committee on Energy and Commerce. By Mrs. STEEL (for herself, Mr. Bilirakis, and Ms. Lee of Nevada), H2135 [2AP] H.R. 7864 — A bill to amend the Tariff Act of 1930 to treat certain merchandise as unused merchandise for drawback purposes; to the Committee on Ways and Means. By Ms. VAN DUYNE (for herself and Ms. Sewell), H2135 [2AP] H.R. 7865 — A bill to amend the Convention on Cultural Property Implementation Act to make certain technical corrections to facilitate the lawful trade and collecting of numismatic materials; to the Committee on Ways and Means. By Ms. VAN DUYNE, H2135 [2AP] H.R. 7866 — A bill to amend the National Defense Authorization Act for Fiscal Year 2016 to improve cooperation between the United States and Israel on anti-tunnel defense capabilities; to the Committee on Armed Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WILSON of South Carolina (for himself, Mr. Gallego, Mr. Lamborn, Mr. Schneider, Mr. Bacon, and Mr. Moulton), H2135 [2AP] Cosponsors added, H2319 [11AP], H2445 [16AP], H2629 [23AP], H2939 [7MY], H3275 [15MY], H3331 [16MY], H3400 [21MY], H3526 [23MY], H3531 [24MY], H3583 [3JN], H3657 [4JN], H4064 [13JN] H.R. 7867 — A bill to amend the Unfunded Mandates Reform Act of 1995 to require the Director of the Office of Management and Budget to establish a limit for the total amount of additional unfunded regulatory costs that may be imposed in a fiscal year, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FALLON (for himself, Mr. Comer, and Ms. Foxx), H2140 [5AP] H.R. 7868 — A bill to require the Director of the Office of Personnel Management to take certain actions with respect to the health insurance program carried out under chapter 89 of title 5, United States Code, and for other purposes; to the Committee on Oversight and Accountability. By Mr. WALTZ, H2140 [5AP] H.R. 7869 — A bill to correct the inequitable denial of enhanced retirement and annuity benefits to certain U.S. Customs and Border Protection Officers; to the Committee on Oversight and Accountability, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZPATRICK (for himself, Mr. Raskin, Mr. Ciscomani, and Mr. Lynch), H2140 [5AP] Cosponsors added, H3000 [8MY] H.R. 7870 — A bill to amend the Internal Revenue Code of 1986 to provide that certain tips shall not be subject to income or employment taxes for a period of 5 years; to the Committee on Ways and Means. By Mr. BACON, H2141 [5AP] H.R. 7871 — A bill to designate the Miami Federal Correctional Institution in Florida as the Donald J. Trump Federal Correctional Institution; to the Committee on the Judiciary. By Mr. CONNOLLY (for himself, Mr. Moskowitz, and Mr. Garamendi), H2141 [5AP] H.R. 7872 — A bill to amend the Colorado River Basin Salinity Control Act to modify certain requirements applicable to salinity control units, and for other purposes; to the Committee on Natural Resources. By Mr. CURTIS (for himself, Mr. Neguse, Mr. Ciscomani, Ms. Stansbury, Ms. Hageman, Mr. Owens, Mr. Moore of Utah, Ms. Maloy, Ms. Leger Fernandez, and Mrs. Napolitano), H2141 [5AP] H.R. 7873 — A bill to enforce the requirement that the National Instant Criminal Background Check System make a final disposition of requests to correct its records within 60 days, and for other purposes; to the Committee on the Judiciary. By Mr. EMMER (for himself, Mr. Armstrong, Mr. Bacon, Mr. Barr, Mr. Bean of Florida, Mrs. Bice, Mr. Biggs, Mr. Bost, Mr. Calvert, Mr. Carter of Georgia, Mr. Collins, Mr. DesJarlais, Mr. Donalds, Mr. Duncan, Mr. Estes, Mr. Feenstra, Mr. Finstad, Mrs. Fischbach, Mr. Fleischmann, Mr. Tony Gonzales of Texas, Mr. Good of Virginia, Mr. Gooden of Texas, Mr. Gosar, Mr. Graves of Louisiana, Mr. Grothman, Mrs. Harshbarger, Mr. Higgins of Louisiana, Mr. Joyce of Pennsylvania, Mr. LaMalfa, Mr. Langworthy, Mr. LaTurner, Ms. Letlow, Mr. Mann, Mrs. Miller of Illinois, Mr. Mooney, Mr. Newhouse, Mr. Norman, Mr. Posey, Mr. Rogers of Alabama, Mr. Rose, Mr. Rosendale, Mr. Austin Scott of Georgia, Mr. Sessions, Mr. Smith of Nebraska, Mr. Stauber, Ms. Stefanik, Mr. Steil, Mr. Steube, Ms. Tenney, Mr. Timmons, Mr. Van Drew, Mr. Hunt, Mr. Williams of New York, Mr. Flood, and Mr. Reschenthaler), H2141 [5AP] Cosponsors added, H2522 [18AP], H2876 [6MY] H.R. 7874 — A bill to terminate the United States-People’s Republic of China Income Tax Convention if the People’s Liberation Army initiates an armed attack against Taiwan; to the Committee on Ways and Means. By Mr. TONY GONZALES of Texas (for himself, Mrs. Spartz, Mr. Davis of North Carolina, and Mr. Carson), H2141 [5AP] H.R. 7875 — A bill to direct the Secretary of State to designate MS-13 as a foreign terrorist organization, and for other purposes; to the Committee on the Judiciary. By Mr. GOOD of Virginia, H2141 [5AP] H.R. 7876 — A bill to support programs for mosquito-borne and other vector-borne disease surveillance and control; to the Committee on Energy and Commerce. By Mr. NEGUSE (for himself and Mrs. Kim of California), H2141 [5AP] H.R. 7877 — A bill to improve the public service loan forgiveness program under section 455(m) of the Higher Education Act of 1965, to improve loan forgiveness eligibility provisions under such Act for teachers, and for other purposes; to the Committee on Education and the Workforce. By Mr. NORCROSS, H2141 [5AP] H.R. 7878 — A bill to amend section 8143b of title 5, United States Code, to include in the time as a firefighter employed by a State when that firefighter is later reclassified as a Federal employee, and for other purposes; to the Committee on Education and the Workforce. By Mr. PAPPAS (for himself, Mrs. Kim of California, and Mr. Gallego), H2141 [5AP] H.R. 7879 — A bill to amend the Higher Education Act of 1965 to include court-ordered receivership in the list of actions resulting in a change of ownership of institutions of higher education; to the Committee on Education and the Workforce. By Ms. PORTER, H2141 [5AP] H.R. 7880 — A bill to amend the Higher Education Act of 1965 to require that institutions of higher education maintain certain adjusted cohort default rates to participate in programs under title IV of such Act, and for other purposes; to the Committee on Education and the Workforce. By Ms. PORTER, H2141 [5AP] H.R. 7881 — A bill to amend section 306 of title 5, United States Code, and sections 1115 and 1120 of title 31, United States Code, to improve the equitable provision of services to underserved communities and individuals, and for other purposes; to the Committee on Oversight and Accountability. By Ms. PRESSLEY (for herself, Mr. Raskin, Ms. Brown, Ms. Bush, Mr. Carson, Mr. Carter of Louisiana, Mr. Espaillat, Ms. Jackson Lee, Mr. Johnson of Georgia, Mr. Khanna, Ms. Lee of Pennsylvania, Mr. Lynch, Mr. Nadler, Ms. Norton, Ms. Ocasio-Cortez, Mrs. Ramirez, and Ms. Tlaib), H2141 [5AP] Cosponsors added, H2291 [10AP] H.R. 7882 — A bill to amend section 1124 of title 31, United States Code, to establish an Agency Equity Advisory Team, to amend sections 3520 and 3520A of title 44, United States Code, to ensure the use of equity, and for other purposes; to the Committee on Oversight and Accountability. By Mr. RASKIN (for himself, Ms. Pressley, Ms. Bush, Mr. Carson, Ms. Jackson Lee, Mr. Johnson of Georgia, Ms. Lee of Pennsylvania, Ms. Norton, Mrs. Ramirez, Mr. Carter of Louisiana, Mr. Nadler, Mr. Lynch, Ms. Tlaib, Mr. Khanna, Ms. Ocasio-Cortez, Mr. Espaillat, and Ms. Brown), H2141 [5AP] Cosponsors added, H3400 [21MY] H.R. 7883 — A bill to amend title 38, United States Code, to modify the duty of the Secretary of Veterans Affairs to provide a veteran with a medical examination in connection with certain claims for disability compensation under the laws administered by the Secretary, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. SELF, H2141 [5AP] H.R. 7884 — A bill to reauthorize the Job Corps program, and for other purposes; to the Committee on Education and the Workforce. By Ms. WILSON of Florida, H2141 [5AP] H.R. 7885 — A bill to amend the Workforce Innovation and Opportunity Act to create a pilot program to award grants to units of general local government and community-based organizations to create jobs, and for other purposes; to the Committee on Education and the Workforce. By Ms. WILSON of Florida, H2141 [5AP] H.R. 7886 — A bill to establish a National Full Employment Trust Fund to create employment opportunities for the unemployed, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. WILSON of Florida, H2141 [5AP] H.R. 7887 — A bill to amend title 41, United States Code, to prohibit minimum experience or educational requirements for proposed contractor personnel in certain contract solicitations, and for other purposes; to the Committee on Oversight and Accountability. By Ms. MACE (for herself and Mr. Krishnamoorthi), H2250 [9AP] H.R. 7888 — A bill to reform the Foreign Intelligence Surveillance Act of 1978; to the Committee on the Judiciary, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. LEE of Florida, H2250 [9AP] Providing for consideration (H. Res. 1125), H2288 [10AP] Debated, H2328 [12AP] Text, H2337 [12AP] Amendments, H2345, H2347, H2348, H2351, H2352, H2353 [12AP] Passed House amended, H2359 [12AP] Providing for consideration (H. Res. 1137), H2366 [12AP] Motion to table motion to reconsider agreed to, H2382 [15AP] Read the first time, S2733 [15AP] Message from the House, S2733 [15AP] Read the second time and placed on the calendar, S2752 [15AP] Motion to proceed considered, S2797 [17AP], S2833 [18AP], S2907 [19AP] Debated, S2799, S2807 [17AP], S2846 [18AP], S2921 [19AP] Amendments, S2830 [17AP], S2892, S2894, S2895, S2896, S2897, S2898, S2903 [18AP], S2923, S2924, S2925, S2935, S2936, S2937, S2939 [19AP] Motion to close debate on motion to proceed agreed to, S2838 [18AP] Motion to proceed agreed to, S2920 [19AP] Passed Senate, S2928 [19AP] Message from the House (received April 20, 2024), S2931 [19AP] Message from the Senate, H2561 [20AP] Examined and signed in the House, H2561 [20AP] Examined and signed in the Senate (April 20, 2024), S2931 [19AP] Presented to the President (April 20, 2024), H2632 [26AP] Approved [Public Law 118–49] (signed April 20, 2024) H.R. 7889 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to increase grants to combat domestic violence for States that implement domestic violence prevention training in the cosmetologist and barber licensing process, and for other purposes; to the Committee on the Judiciary. By Ms. LEE of Florida (for herself and Mrs. Dingell), H2250 [9AP] Cosponsors added, H2319 [11AP] H.R. 7890 — A bill to amend the Children’s Online Privacy Protection Act of 1998 to strengthen protections relating to the online collection, use, and disclosure of personal information of children and teens, and for other purposes; to the Committee on Energy and Commerce. By Mr. WALBERG (for himself, Ms. Castor of Florida, Mr. Bucshon, Ms. Eshoo, Mr. Carter of Georgia, Mr. Moulton, Mr. Dunn of Florida, and Mr. Auchincloss), H2250 [9AP] Cosponsors added, H2291 [10AP], H2399 [15AP], H2445 [16AP], H2560 [19AP], H2629 [23AP], H2636 [26AP], H3331 [16MY], H3535 [28MY], H4064 [13JN] H.R. 7891 — A bill to protect the safety of children on the internet; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BILIRAKIS (for himself, Ms. Castor of Florida, Mrs. Houchin, Ms. Schrier, and Mr. Bucshon), H2250 [9AP] Cosponsors added, H2291 [10AP], H2445 [16AP], H2623 [20AP], H3000 [8MY], H3486 [22MY], H3727 [11JN], H4064 [13JN], H4115 [18JN] H.R. 7892 — A bill to amend the Higher Education Act of 1965 to rename master promissory notes for loans made under part D to student loan contracts; to the Committee on Education and the Workforce. By Ms. UNDERWOOD (for herself, Mr. Levin, Mr. Trone, Ms. Clarke of New York, Mr. Davis of North Carolina, and Mr. Thanedar), H2250 [9AP] Cosponsors added, H2291 [10AP], H2319 [11AP] H.R. 7893 — A bill to designate the facility of the United States Postal Service located at 306 Pickens Street in Marion, Alabama, as the ‘‘Albert Turner, Sr. Post Office Building’’; to the Committee on Oversight and Accountability. By Ms. SEWELL (for herself, Mr. Aderholt, Mr. Carl, Mr. Rogers of Alabama, Mr. Moore of Alabama, Mr. Strong, and Mr. Palmer), H2250 [9AP] Rules suspended. Passed House, H3565 [3JN] Text, H3565 [3JN] Message from the House, S3950 [4JN] Referred to the Committee on Homeland Security and Governmental Affairs, S3951 [4JN] H.R. 7894 — A bill to amend the Public Works and Economic Development Act of 1965 to authorize the Secretary of Commerce to make grants to professional nonprofit theaters for the purposes of supporting operations, employment, and economic development; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Financial Services, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BONAMICI, H2250 [9AP] Cosponsors added, H3486 [22MY], H3727 [11JN], H4115 [18JN] H.R. 7895 — A bill to amend title 38, United States Code, to provide for the restoration of entitlement of individuals entitled to educational assistance under the laws administered by the Secretary of Veterans Affairs who use such entitlement to pursue a course or program of education at an educational institution found to have violated certain prohibitions on advertising, sales, and enrollment practices, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. BOST, H2250 [9AP] H.R. 7896 — A bill to amend title 38, United States Code, to modify the criteria for approval of certain independent study programs for purposes of the educational assistance programs of the Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. CISCOMANI (for himself, Mr. Hudson, Mr. Davis of North Carolina, and Mr. Van Orden), H2250 [9AP] Cosponsors added, H2523 [18AP] H.R. 7897 — A bill to require the Secretary of the Interior to finalize a proposed rule to remove the Apache trout from the Federal List of Endangered and Threatened Wildlife; to the Committee on Natural Resources. By Mr. CRANE (for himself, Mr. Biggs, and Mr. Gosar), H2250 [9AP] H.R. 7898 — A bill to amend title 38, United States Code, to modify the administration of housing loans of the Department of Veterans Affairs to prevent or resolve default under such loans, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. DELUZIO (for himself and Mr. Moylan), H2250 [9AP] H.R. 7899 — A bill to direct the Attorney General, in consultation with the Secretary of Health and Human Services, to promulgate the final regulations relating to special registration for telemedicine; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. EZELL, H2250 [9AP] H.R. 7900 — A bill to establish a regulatory review process for rules that the Administrator of the Environmental Protection Agency plans to propose, and for other purposes; to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FINSTAD (for himself, Mr. Johnson of South Dakota, Mr. Bacon, Mrs. Hinson, Mr. Scott Franklin of Florida, Mr. Van Orden, Mr. Newhouse, Mrs. Fischbach, Mr. Austin Scott of Georgia, Mr. Williams of Texas, Mr. Flood, and Mr. Moore of Alabama), H2250 [9AP] Cosponsors added, H2291 [10AP], H2319 [11AP], H2399 [15AP], H3400 [21MY] H.R. 7901 — A bill to authorize the appropriation of $2,000,000,000 for rental vouchers for high population areas, and for other purposes; to the Committee on Financial Services. By Mr. GALLEGO (for himself and Ms. Titus), H2250 [9AP] H.R. 7902 — A bill to support a review of surcharge policy at the International Monetary Fund; to the Committee on Financial Services. By Mr. GARCÍA of Illinois (for himself, Mrs. Beatty, Ms. Pettersen, Mr. Cleaver, Mr. Vargas, Ms. Williams of Georgia, Ms. Tlaib, Ms. Pressley, and Ms. Jayapal), H2250 [9AP] H.R. 7903 — A bill to amend the Internal Revenue Code of 1986 to allow elective payment of applicable credits to bona fide residents of and entities organized under the laws of Puerto Rico; to the Committee on Ways and Means. By Mrs. GONZÁLEZ-COLÓN (for herself, Mr. Torres of New York, and Mr. Soto), H2250 [9AP] H.R. 7904 — A bill to amend the Internal Revenue Code of 1986 to extend tax credits for clean vehicles to possessions of the United States; to the Committee on Ways and Means. By Mrs. GONZÁLEZ-COLÓN (for herself and Mr. Soto), H2250 [9AP] H.R. 7905 — A bill to prohibit States from imposing a tax on the retail sale of menstrual products; to the Committee on the Judiciary. By Mr. GREEN of Texas (for himself, Ms. Meng, Ms. Adams, Mrs. Beatty, Mr. Bowman, Mr. Carson, Mr. Casten, Mrs. Cherfilus-McCormick, Ms. Chu, Ms. Clarke of New York, Mr. Connolly, Ms. Escobar, Mrs. Foushee, Ms. Lois Frankel of Florida, Ms. Garcia of Texas, Mr. Gottheimer, Mr. Grijalva, Ms. Norton, Ms. Jackson Lee, Ms. Lee of Pennsylvania, Ms. Lee of California, Ms. Moore of Wisconsin, Mr. Mullin, Mr. Nadler, Mrs. Napolitano, Ms. Pettersen, Ms. Ross, Mr. Ruiz, Ms. Salinas, Ms. Schakowsky, Ms. Sewell, Ms. Tlaib, Mrs. Torres of California, Ms. Wilson of Florida, and Mr. Swalwell), H2250 [9AP] Cosponsors added, H2445 [16AP] H.R. 7906 — A bill to improve the effectiveness and available tools of State and tribal child support enforcement agencies, and for other purposes; to the Committee on Ways and Means. By Mr. HERN (for himself, Ms. DelBene, Mr. Smucker, Ms. Moore of Wisconsin, Mr. Schweikert, and Mr. LaHood), H2250 [9AP] Cosponsors added, H2445 [16AP], H2629 [23AP], H3400 [21MY], H3486 [22MY], H3583 [3JN], H3657 [4JN], H4064 [13JN] H.R. 7907 — A bill to authorize the Secretary of Health and Human Services to award grants for career support for a skilled, internationally educated health care workforce; to the Committee on Energy and Commerce. By Mr. KRISHNAMOORTHI, H2250 [9AP] Cosponsors added, H2319 [11AP] H.R. 7908 — A bill to require the Secretary of Housing and Urban Development to establish a Commission on Youth Homelessness, and for other purposes; to the Committee on Financial Services. By Mr. KRISHNAMOORTHI (for himself, Mr. Schiff, Ms. Norton, Mr. Lieu, and Ms. Tlaib), H2250 [9AP] Cosponsors added, H2939 [7MY] H.R. 7909 — A bill to amend the Immigration and Nationality Act to provide that aliens who have been convicted of or who have committed sex offenses or domestic violence are inadmissible and deportable; to the Committee on the Judiciary. By Ms. MACE (for herself, Mr. Biggs, and Ms. Boebert), H2250 [9AP] Cosponsors added, H2319 [11AP], H3400 [21MY], H3486 [22MY] H.R. 7910 — A bill to require States to carry out congressional redistricting in accordance with a redistricting plan developed by an independent redistricting commission, and for other purposes; to the Committee on the Judiciary. By Mr. NICKEL (for himself and Ms. Lofgren), H2250 [9AP] H.R. 7911 — A bill to amend title 13, United States Code, to prohibit the use of questions on citizenship, nationality, or immigration status in any decennial census, and for other purposes; to the Committee on Oversight and Accountability. By Ms. NORTON, H2251 [9AP] Cosponsors added, H3275 [15MY] H.R. 7912 — A bill to amend the Internal Revenue Code of 1986 to increase the aggregate dollar limitation on the amount of qualified adoption expenses which may be taken into account for purposes of the adoption expenses credit in the case of a taxpayer who adopts 2 siblings in the same taxable year; to the Committee on Ways and Means. By Mr. NUNN of Iowa (for himself and Mr. Davis of North Carolina), H2251 [9AP] H.R. 7913 — A bill to require a notice be submitted to the Register of Copyrights with respect to copyrighted works used in building generative AI systems, and for other purposes; to the Committee on the Judiciary. By Mr. SCHIFF, H2251 [9AP] H.R. 7914 — A bill to require the imposition of sanctions on the Popular Resistance Committees and other associated entities, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SHERMAN (for himself, Mr. Kustoff, Mr. McCaul, and Mr. Schneider), H2251 [9AP] Cosponsors added, H2702 [29AP], H2876 [6MY], H2939 [7MY], H3000 [8MY], H3007 [10MY], H3206 [14MY], H3526 [23MY], H3682 [7JN], H3727 [11JN], H4064 [13JN] H.R. 7915 — A bill to amend the Homeland Security Act of 2002 to enhance the Department of Homeland Security’s oversight of certain intelligence matters, and for other purposes; to the Committee on Homeland Security. By Mr. THOMPSON of Mississippi, H2251 [9AP] H.R. 7916 — A bill to amend the Safe Drinking Water Act to provide grants for nitrate and arsenic reduction projects, and for other purposes; to the Committee on Energy and Commerce. By Mrs. TORRES of California (for herself and Mr. Valadao), H2251 [9AP] Cosponsors added, H3583 [3JN] H.R. 7917 — A bill to amend title 38, United States Code, to improve the efficiency of adjudications and appeals of claims for benefits under laws administered by Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. BOST (for himself, Ms. Stefanik, and Mr. Bilirakis), H2289 [10AP] H.R. 7918 — A bill to direct the Secretary of Labor to award grants to emerging artists to support their early development; to the Committee on Education and the Workforce. By Mr. FROST (for himself, Mr. Kildee, Mr. Casar, and Ms. Ocasio-Cortez), H2289 [10AP] Cosponsors added, H2368 [12AP], H2702 [29AP] H.R. 7919 — A bill to amend title 38, United States Code, to provide for certain revisions to the manual of the Veterans Benefits Administration and to improve the quality of the adjudication of claims for benefits under the laws administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. LUTTRELL (for himself, Ms. Stefanik, and Mr. Bilirakis), H2289 [10AP] H.R. 7920 — A bill to amend the Agricultural Research, Extension, and Education Reform Act of 1998 to direct the Secretary of Agriculture to establish a program under which the Secretary will award competitive grants to eligible entities for the purpose of establishing and enhancing farming and ranching opportunities for veterans; to the Committee on Agriculture, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VAN ORDEN (for himself, Mr. Davis of North Carolina, Mr. Bacon, and Mrs. Chavez-DeRemer), H2289 [10AP] H.R. 7921 — A bill to strengthen Federal efforts to counter antisemitism in the United States; to the Committee on the Judiciary, and in addition to the Committees on Education and the Workforce, Homeland Security, Oversight and Accountability, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MANNING (for herself, Mr. Smith of New Jersey, Mr. Fitzpatrick, Mr. Weber of Texas, Ms. Meng, Mr. Lieu, and Mr. Veasey), H2289 [10AP] Cosponsors added, H2319 [11AP], H2368 [12AP], H2399 [15AP], H2503 [17AP], H2560 [19AP], H2636 [26AP], H2702 [29AP], H2836 [2MY], H2876 [6MY], H2939 [7MY], H3275 [15MY], H3331 [16MY], H3535 [28MY], H3727 [11JN], H3976 [12JN], H4115 [18JN] H.R. 7922 — A bill to establish a Water Risk and Resilience Organization to develop risk and resilience requirements for the water sector; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CRAWFORD (for himself and Mr. Duarte), H2289 [10AP] H.R. 7923 — A bill to limit USDA funding for ground-mounted solar energy systems, and for other purposes; to the Committee on Agriculture. By Mr. BOST (for himself, Mr. Finstad, Mr. Langworthy, and Mr. Austin Scott of Georgia), H2289 [10AP] Cosponsors added, H2623 [20AP] H.R. 7924 — A bill to amend the Higher Education Act of 1965 to support graduate programs in mental and behavioral health professions at minority-serving institutions, and for other purposes; to the Committee on Education and the Workforce. By Mr. BOWMAN (for himself, Mr. Cárdenas, Ms. Garcia of Texas, Mr. Goldman of New York, Ms. Jackson Lee, Ms. Lee of California, Ms. Lee of Pennsylvania, Ms. Moore of Wisconsin, Mr. Moulton, Mrs. Napolitano, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Mrs. Ramirez, Mr. Thanedar, Ms. Tlaib, Ms. Velázquez, and Mrs. Watson Coleman), H2289 [10AP] Cosponsors added, H2523 [18AP], H2560 [19AP] H.R. 7925 — A bill to provide for the standardization, publication, and accessibility of data relating to public outdoor recreational use of Federal waterways, and for other purposes; to the Committee on Natural Resources. By Mr. D’ESPOSITO (for himself, Mr. Levin, Ms. Salazar, Mr. Huffman, Ms. Kamlager-Dove, Mr. Donalds, Mrs. Peltola, Mr. Panetta, Mr. Kilmer, Mr. Carl, and Mr. Moylan), H2289 [10AP] Cosponsors added, H2560 [19AP], H2702 [29AP], H3206 [14MY], H3400 [21MY], H3657 [4JN] H.R. 7926 — A bill to amend title 49, United States Code, with respect to requirements for air carriers to disclose certain exposures to toxic fumes, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. ESPAILLAT, H2289 [10AP] H.R. 7927 — A bill to require a study on the manner and extent to which the tariff rates assessed by the United States on imports are regressive or demonstrate a gender bias, and for other purposes; to the Committee on Ways and Means. By Mrs. FLETCHER (for herself, Ms. Pettersen, Mr. Quigley, Mr. Beyer, Ms. Kuster, and Mr. Kilmer), H2289 [10AP] Cosponsors added, H2445 [16AP] H.R. 7928 — A bill to direct the Secretary of Defense to revise the rates of basic pay for certain enlisted members of the uniformed services; to the Committee on Armed Services. By Mr. MIKE GARCIA of California, H2289 [10AP] H.R. 7929 — A bill to amend title XX of the Social Security Act to provide for nursing home worker training grants; to the Committee on Ways and Means. By Mr. HORSFORD (for himself and Mr. Davis of Illinois), H2289 [10AP] H.R. 7930 — A bill to require the Secretary of Health and Human Services to establish a program to award grants for providing to or developing for schools and youth-serving organizations educational resources or training on preventing teen dating violence, and for other purposes; to the Committee on Energy and Commerce. By Ms. KUSTER (for herself, Mr. Molinaro, Ms. Moore of Wisconsin, and Mr. Fitzpatrick), H2289 [10AP] Cosponsors added, H2831 [1MY], H2939 [7MY] H.R. 7931 — A bill to amend title XVIII of the Social Security Act to update the fee schedule for ambulance services provided by critical access hospitals; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. MILLER of West Virginia (for herself and Ms. Caraveo), H2289 [10AP] Cosponsors added, H2503 [17AP] H.R. 7932 — A bill to prohibit Federal funds from being made available to international financial institutions for the purposes of financing foreign shrimp farms, and for other purposes; to the Committee on Financial Services. By Mr. NEHLS (for himself, Mr. Higgins of Louisiana, Mr. Vicente Gonzalez of Texas, Mr. Graves of Louisiana, Mr. Ezell, Mr. Moore of Alabama, Ms. Mace, Mr. Donalds, Mr. Weber of Texas, Mr. Babin, Mr. Fry, Mrs. Luna, Ms. Letlow, and Mr. Bilirakis), H2289 [10AP] Cosponsors added, H2503 [17AP], H2636 [26AP], H2939 [7MY], H3657 [4JN], H3727 [11JN] H.R. 7933 — A bill to amend the Internal Revenue Code of 1986 to modify the treatment of foreign corporations, and for other purposes; to the Committee on Ways and Means. By Ms. SCHAKOWSKY, H2289 [10AP] H.R. 7934 — A bill to amend title 10, United States Code, to implement a limitation on contracting for supplies needed for the Department of the Army for certain workload activities at arsenals of the Department of the Army, and for other purposes; to the Committee on Armed Services. By Mr. SORENSEN (for himself and Mrs. Miller-Meeks), H2289 [10AP] H.R. 7935 — A bill to direct the Secretary of Defense to accelerate the implementation of quantum information science technologies within the Department of Defense, and for other purposes; to the Committee on Armed Services. By Ms. STEFANIK, H2289 [10AP] Cosponsors added, H2636 [26AP] H.R. 7936 — A bill to prepare the National Park Service for America’s Semiquincentennial by revaluating and recommitting to efforts to protect and sustain the resiliency of our Nation’s cultural resources for the enjoyment, wellbeing, and education of all present and future generations; to the Committee on Natural Resources. By Mr. TONKO, H2289 [10AP] Cosponsors added, H2636 [26AP], H2831 [1MY], H2939 [7MY], H3206 [14MY], H3727 [11JN], H4110 [14JN] H.R. 7937 — A bill to terminate the authorities of certain entities of the Federal Government, and for other purposes; to the Committee on Oversight and Accountability. By Mr. ALFORD (for himself, Mrs. Harshbarger, Mr. Burlison, Mr. Rosendale, and Mr. Duncan), H2315 [11AP] Cosponsors added, H2503 [17AP], H2523 [18AP], H2560 [19AP], H2629 [23AP], H3007 [10MY], H3486 [22MY] H.R. 7938 — A bill to amend the Klamath Basin Water Supply Enhancement Act of 2000 to provide the Secretary of the Interior with certain authorities with respect to projects affecting the Klamath Basin watershed, and for other purposes; to the Committee on Natural Resources. By Mr. BENTZ, H2315 [11AP] H.R. 7939 — A bill to amend title XVIII of the Social Security Act to improve Medicare beneficiary access to new medical technologies that improve health care quality and outcomes by ensuring that breakthrough devices are eligible for conditional approval under the Medicare New Technology Add-On Payment (NTAP) Program, enabling these medical breakthroughs to be provided to Medicare beneficiaries without unnecessary delay; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CAREY (for himself and Mr. Davis of Illinois), H2315 [11AP] Cosponsors added, H3400 [21MY], H3531 [24MY], H3535 [28MY] H.R. 7940 — A bill to amend the Surface Mining Control and Reclamation Act of 1977 to protect taxpayers from liability associated with the reclamation of surface coal mining operations, and for other purposes; to the Committee on Natural Resources. By Mr. CARTWRIGHT (for himself, Mrs. Dingell, Mr. Cleaver, Mr. Grijalva, Mr. Huffman, Ms. Jayapal, Mr. Nadler, Mrs. Napolitano, Ms. Norton, Ms. Ocasio-Cortez, Ms. Tlaib, and Ms. Lee of Pennsylvania), H2315 [11AP] Cosponsors added, H2445 [16AP], H3486 [22MY], H3526 [23MY], H3583 [3JN] H.R. 7941 — A bill to amend the Surface Mining Control and Reclamation Act of 1977 to establish additional considerations with regard to the adequacy of permit performance bonds, and for other purposes; to the Committee on Natural Resources. By Mr. CARTWRIGHT (for himself, Mr. Deluzio, Mr. Grijalva, Mr. Huffman, Ms. Lee of Pennsylvania, and Ms. Tlaib), H2315 [11AP] Cosponsors added, H3583 [3JN], H3682 [7JN], H3976 [12JN] H.R. 7942 — A bill to establish the Open Translation Center, and for other purposes; to the Committee on Foreign Affairs. By Mr. CASTRO of Texas (for himself and Mr. Gallagher), H2315 [11AP] H.R. 7943 — A bill to amend title 5, United States Code, to provide law enforcement authority to the Inspector General of the United States International Development Finance Corporation; to the Committee on Oversight and Accountability. By Mr. CASTRO of Texas (for himself and Mr. Fitzpatrick), H2315 [11AP] H.R. 7944 — A bill to exempt certain entities from liability under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 with respect to releases of perfluoroalkyl and polyfluoroalkyl substances, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CURTIS (for himself and Ms. Perez), H2315 [11AP] Cosponsors added, H2939 [7MY], H3657 [4JN] H.R. 7945 — A bill to provide a definition of antisemitism for the enforcement of covered civil rights laws; to the Committee on the Judiciary, and in addition to the Committees on Oversight and Accountability, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. D’ESPOSITO (for himself, Mr. Lawler, Mr. Fleischmann, and Ms. Tenney), H2315 [11AP] Cosponsors added, H2368 [12AP], H2445 [16AP], H2876 [6MY] H.R. 7946 — A bill to require the Administrator of the National Oceanic and Atmospheric Administration to establish a Climate Change Education Program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. DINGELL (for herself, Ms. Brownley, Ms. Pingree, Mr. Panetta, Ms. Norton, Mr. Morelle, Mr. Huffman, Mr. Blumenauer, Ms. Castor of Florida, and Ms. Pressley), H2316 [11AP] H.R. 7947 — A bill to protect State and Federal courts’ primary and inherent authority to regulate and oversee the legal profession by prohibiting Federal agencies from regulating licensed attorneys and law firms engaged in litigation activities, prohibiting opposing parties in legal actions from bringing private rights of action against such attorneys and law firms for their litigation activities, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZGERALD (for himself, Mr. Mooney, and Mr. Biggs), H2316 [11AP] Cosponsors added, H2445 [16AP], H3682 [7JN] H.R. 7948 — A bill to include reasonable costs for high-speed internet service in the utility allowances for families residing in public housing, and for other purposes; to the Committee on Financial Services. By Mr. FOSTER (for himself, Ms. Norton, Ms. Dean of Pennsylvania, Mr. Johnson of Georgia, Ms. Bonamici, Mr. McGovern, and Mrs. Beatty), H2316 [11AP] H.R. 7949 — A bill to combat the sexual exploitation of children by supporting victims and promoting accountability and transparency by the tech industry; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. GARCIA of Texas (for herself and Mr. Moore of Alabama), H2316 [11AP] H.R. 7950 — A bill to impose certain requirements relating to the renegotiation or reentry into the Joint Comprehensive Plan of Action or other agreement relating to Iran’s nuclear program, and for other purposes; to the Committee on Foreign Affairs. By Mr. GOOD of Virginia (for himself, Mrs. Miller of Illinois, Mr. Ogles, Mr. Moore of Alabama, and Mr. Higgins of Louisiana), H2316 [11AP] H.R. 7951 — A bill to prohibit transportation of any alien using certain methods of identification, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GREEN of Tennessee (for himself, Mr. McCaul, Mr. Guest, Mr. Higgins of Louisiana, Mr. Bishop of North Carolina, Mr. Crane, Mr. Ellzey, Mr. Strong, Mr. D’Esposito, Mr. Luttrell, Mr. Ogles, Mr. Owens, Mr. Nehls, Mr. Good of Virginia, Mr. Tiffany, Mr. Posey, Mr. Crenshaw, Mr. Weber of Texas, Mr. Duncan, Mr. Reschenthaler, Mr. Van Drew, Mr. Perry, Mr. Rose, and Mr. Crawford), H2316 [11AP] Cosponsors added, H2445 [16AP], H2503 [17AP], H2702 [29AP], H2836 [2MY] H.R. 7952 — A bill to amend title 10, United States Code, to extend parental leave to members of the Coast Guard Reserve; to the Committee on Armed Services. By Mr. JACKSON of North Carolina (for himself and Mr. Nunn of Iowa), H2316 [11AP] H.R. 7953 — A bill to amend title 10, United States Code, to allow members of the Selected Reserve and National Guard holding employment within the Federal Government the choice between military and civilian healthcare plans, and for other purposes; to the Committee on Armed Services. By Mrs. KIGGANS of Virginia (for herself, Mr. Kim of New Jersey, Mr. Wittman, Mr. Turner, Mr. Gimenez, and Mr. Kelly of Mississippi), H2316 [11AP] Cosponsors added, H2503 [17AP], H2939 [7MY], H3657 [4JN] H.R. 7954 — A bill to amend the Financial Stability Act of 2010 to establish an Advisory Committee on Economic Fallout From Chinese Military Aggression Towards Taiwan, and for other purposes; to the Committee on Financial Services. By Mr. LUETKEMEYER (for himself and Mr. Torres of New York), H2316 [11AP] Cosponsors added, H3206 [14MY], H3275 [15MY], H3675 [5JN], H3727 [11JN] H.R. 7955 — A bill to increase penalties for child pornography; to the Committee on the Judiciary. By Mrs. LUNA (for herself and Mrs. Miller of Illinois), H2316 [11AP] H.R. 7956 — A bill to require mandatory minimums for sexual abuse; to the Committee on the Judiciary. By Mrs. LUNA (for herself, Mr. Tiffany, and Mrs. Miller of Illinois), H2316 [11AP] H.R. 7957 — A bill to increase penalties for crimes against children; to the Committee on the Judiciary. By Mrs. LUNA (for herself and Mrs. Miller of Illinois), H2316 [11AP] H.R. 7958 — A bill to amend the Public Health Service Act to prohibit the Director of the National Institutes of Health from conducting or funding research that causes significant pain or distress to a dog or cat, and for other purposes; to the Committee on Energy and Commerce. By Ms. MACE (for herself, Mr. Moskowitz, Mr. Nehls, Ms. Kaptur, Ms. Malliotakis, Ms. Titus, Mr. Carter of Georgia, Ms. Norton, and Mr. Steube), H2316 [11AP] Cosponsors added, H2399 [15AP], H3486 [22MY] H.R. 7959 — A bill to amend the Immigration and Nationality Act with respect to inadmissibility and deportability related to squatting; to the Committee on the Judiciary. By Mr. MEUSER (for himself, Mr. Duncan, Mr. Reschenthaler, Ms. Malliotakis, Mrs. Miller-Meeks, and Mr. Crenshaw), H2316 [11AP] Cosponsors added, H2368 [12AP], H2399 [15AP], H2445 [16AP], H2523 [18AP], H2623 [20AP], H2702 [29AP], H2771 [30AP], H2831 [1MY], H3275 [15MY], H3400 [21MY] H.R. 7960 — A bill to amend the National Voter Registration Act of 1993 to provide for enhanced penalties for the transmission of fraudulent ballots in elections for Federal office through the use of post offices, authorized depositories of mail matter, or ballot drop boxes, to direct the Attorney General to establish a system for receiving reports of incidents of the transmission of such fraudulent ballots through such methods, and for other purposes; to the Committee on House Administration, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MEUSER, H2316 [11AP] H.R. 7961 — A bill to authorize a higher Federal share for emergency relief funds for the reconstruction of the Francis Scott Key Bridge located in Baltimore City and Baltimore and Anne Arundel Counties, Maryland, that collapsed on March 26, 2024, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MFUME (for himself, Mr. Hoyer, Mr. Ruppersberger, Mr. Sarbanes, Mr. Harris, Mr. Raskin, Mr. Trone, and Mr. Ivey), H2316 [11AP] Cosponsors added, H2831 [1MY] H.R. 7962 — A bill to advance United States long-term trade competitiveness and economic leadership in the Indo-Pacific region; to the Committee on Ways and Means. By Mrs. MILLER of West Virginia (for herself, Mr. Panetta, Mr. Smith of Nebraska, Mr. Beyer, Mr. LaHood, and Mr. Bera), H2316 [11AP] Cosponsors added, H2445 [16AP], H4116 [18JN] H.R. 7963 — A bill to amend title 31, United States Code, to require FinCEN to submit to Congress a quarterly report on certain beneficial ownership data; to the Committee on Financial Services. By Mr. NUNN of Iowa (for himself and Mr. Cuellar), H2316 [11AP] Cosponsors added, H2636 [26AP], H2831 [1MY] H.R. 7964 — A bill to prohibit the use of Federal funds to establish, implement, or enforce any COVID-19 mask mandate; to the Committee on Energy and Commerce. By Mr. OGLES (for himself, Mr. Steube, Mr. Rosendale, Mr. Tiffany, Mr. Duncan, Mr. Perry, Mr. Norman, and Mrs. Spartz), H2316 [11AP] Cosponsors added, H2399 [15AP], H2445 [16AP] H.R. 7965 — A bill to include requirements relating to ransomware attack deterrence for a covered U.S. financial institution in the Consolidated Appropriations Act, 2021, and for other purposes; to the Committee on Financial Services. By Ms. PETTERSEN (for herself and Mr. McHenry), H2316 [11AP] H.R. 7966 — A bill to amend title 10, United States Code, to require the verification of the financial independence of financial services counselors providing services to members of the Armed Forces, and for other purposes; to the Committee on Armed Services. By Ms. SHERRILL (for herself, Mr. Bacon, Mr. Larsen of Washington, Mr. Ryan, Mr. Pascrell, Ms. Stefanik, Mr. Davis of North Carolina, Mr. Gottheimer, Ms. Tokuda, Mr. Cohen, Mr. Kean of New Jersey, Ms. Garcia of Texas, and Mr. Molinaro), H2316 [11AP] H.R. 7967 — A bill to amend the Trade Act of 1974 to modify provisions relating to withdrawal, suspension, or limitation of country designation under the Generalized System of Preferences; to the Committee on Ways and Means. By Mr. SMUCKER, H2316 [11AP] H.R. 7968 — A bill to amend the Public Works and Economic Development Act of 1965 to provide for the establishment of a Critical Supply Chain Site Development grant program, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SORENSEN (for himself, Mrs. Miller-Meeks, Mr. Allred, and Mrs. Kiggans of Virginia), H2316 [11AP] H.R. 7969 — A bill to amend title 18, United States Code, to provide that the period during which a former Member of Congress is prohibited from lobbying shall begin upon the expiration of the term for which the Member was elected; to the Committee on the Judiciary. By Ms. TENNEY, H2316 [11AP] H.R. 7970 — A bill to require direct-to-consumer advertisements for prescription drugs and biological products to include truthful and not misleading pricing information; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. WILLIAMS of Georgia (for herself and Ms. Porter), H2316 [11AP] H.R. 7971 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to provide timely equitable relief to an individual who suffers a loss based on an administrative error by the Secretary, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. VAN ORDEN (for himself, Mr. Pappas, Mr. Edwards, and Mr. Ciscomani), H2366 [12AP] Cosponsors added, H2771 [30AP], H2939 [7MY] H.R. 7972 — A bill to increase the supply of, and lower rents for, affordable housing and to assess calculations of area median income for purposes of Federal low-income housing assistance, and for other purposes; to the Committee on Financial Services. By Ms. CLARKE of New York (for herself, Ms. Tlaib, Ms. Norton, Mr. Johnson of Georgia, Mr. Lieu, Mr. Neguse, Mr. Bowman, Ms. Pressley, Ms. Velázquez, Ms. Ocasio-Cortez, Ms. Manning, Ms. Lee of California, Mr. Goldman of New York, Ms. Schakowsky, Mr. Meeks, Ms. Adams, Mr. Carson, Mr. Grijalva, Mrs. Cherfilus-McCormick, Mrs. Watson Coleman, Ms. Garcia of Texas, Ms. Kelly of Illinois, Mr. Veasey, and Mr. Phillips), H2366 [12AP] Cosponsors added, H2629 [23AP], H2876 [6MY], H2939 [7MY], H3358 [17MY] H.R. 7973 — A bill to direct the Secretary of Commerce to establish a grant program to support the restoration of coral reefs in South Florida; to the Committee on Natural Resources. By Mr. GIMENEZ (for himself and Ms. Wasserman Schultz), H2366 [12AP] H.R. 7974 — A bill to amend the Federal Food, Drug, and Cosmetic Act to require labeling of food products containing insects, and for other purposes; to the Committee on Energy and Commerce. By Mrs. MILLER of Illinois, H2366 [12AP] H.R. 7975 — A bill to amend title 38, United States Code, to expand eligibility for care from the Department of Veterans Affairs to include members of the Reserve components of the Armed Forces, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. NEGUSE, H2366 [12AP] H.R. 7976 — A bill to designate the Civil War Defenses of Washington National Historical Park comprised of certain National Park System lands, and by affiliation and cooperative agreements other historically significant resources, located in the District of Columbia, Virginia, and Maryland, that were part of the Civil War defenses of Washington and related to the Shenandoah Valley Campaign of 1864, to study ways in which the Civil War history of both the North and South can be assembled, arrayed, and conveyed for the benefit of the public, and for other purposes; to the Committee on Natural Resources. By Ms. NORTON, H2366 [12AP] H.R. 7977 — A bill to amend title 10, United States Code, to reduce the minimum number of participating students required to establish or maintain a unit of the Junior Reserve Officers’ Training Corps; to the Committee on Armed Services. By Mr. WALTZ (for himself, Ms. Houlahan, Mrs. Miller of West Virginia, Mr. Moylan, Ms. Sewell, Mr. Carbajal, Mr. Ryan, Mr. Davis of North Carolina, Mr. McCormick, Mr. Palmer, Mrs. Kiggans of Virginia, Mr. Connolly, Mr. Banks, Mr. Bacon, Mr. Gimenez, Mr. Wittman, and Mr. Khanna), H2366 [12AP] Cosponsors added, H2399 [15AP], H2503 [17AP], H2523 [18AP], H2702 [29AP], H3486 [22MY], H3727 [11JN] H.R. 7978 — A bill to amend the Family and Medical Leave Act of 1993 and title 5, United States Code, to allow employees to take, as additional leave, parental involvement leave to participate in or attend their children’s and grandchildren’s educational and extracurricular activities, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Oversight and Accountability, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. WILSON of Florida, H2367 [12AP] H.R. 7979 — A bill to amend section 321 of the Tariff Act of 1930 to modify the administrative exemptions under that Act; to the Committee on Ways and Means. By Mr. MURPHY, H2395 [15AP] Cosponsors added, H2445 [16AP] H.R. 7980 — A bill to amend the Internal Revenue Code of 1986 to exclude vehicles the batteries of which contain materials sourced from prohibited foreign entities from the clean vehicle credit; to the Committee on Ways and Means. By Mrs. MILLER of West Virginia, H2395 [15AP] Cosponsors added, H2445 [16AP] Reported with amendment (H. Rept. 118–550), H3724 [11JN] H.R. 7981 — A bill to ensure that goods made using or containing cobalt extracted or processed with the use of child or forced labor in the Democratic Republic of the Congo do not enter the United States market; to the Committee on Ways and Means. By Mr. SMITH of New Jersey, H2395 [15AP] H.R. 7982 — A bill to amend the Immigration and Nationality Act to provide F visas and employment authorization for international student athletes who enter into endorsement contracts for the commercial use of their names, images, and likenesses; to the Committee on the Judiciary. By Mr. FLOOD (for himself and Mrs. Foushee), H2395 [15AP] H.R. 7983 — A bill to amend the Internal Revenue Code of 1986 to define the term free trade agreement for purposes of the clean vehicle credit; to the Committee on Ways and Means. By Mrs. FISCHBACH, H2395 [15AP] H.R. 7984 — A bill to require the Administrator of the Small Business Administration to improve access to disaster assistance for individuals located in rural areas, and for other purposes; to the Committee on Small Business. By Mr. PAPPAS (for himself, Mr. Bean of Florida, Mr. Golden of Maine, and Mr. Mann), H2395 [15AP] Reported (H. Rept. 118–537), H3654 [4JN] Rules suspended. Passed House, H3692 [11JN] Text, H3692 [11JN] Message from the House, S4049 [12JN] Referred to the Committee on Small Buiness and Entrepreneurship, S4049 [12JN] H.R. 7985 — A bill to require the Administrator of the Small Business Administration to submit to Congress a report on the entrepreneurial challenges facing entrepreneurs with a disability, and for other purposes; to the Committee on Small Business. By Mr. McGARVEY (for himself and Mr. Molinaro), H2395 [15AP] Cosponsors added, H2636 [26AP] Reported (H. Rept. 118–470), H2634 [26AP] Rules suspended. Passed House, H2643 [29AP] Text, H2643 [29AP] Message from the House, S3078 [30AP] Referred to the Committee on Small Business and Entrepreneurship, S3078 [30AP] H.R. 7986 — A bill to modify and reauthorize the Generalized System of Preferences, and for other purposes; to the Committee on Ways and Means. By Mr. SMITH of Nebraska, H2395 [15AP] H.R. 7987 — A bill to require plain language and the inclusion of key words in covered notices that are clear, concise, and accessible to small business concerns, and for other purposes; to the Committee on Small Business. By Mr. LaLOTA (for himself and Mr. Thanedar), H2395 [15AP] Reported (H. Rept. 118–471), H2634 [26AP] Rules suspended. Passed House, H2645 [29AP] Text, H2645 [29AP] Message from the House, S3078 [30AP] Referred to the Committee on Small Business and Entrepreneurship, S3078 [30AP] Reported (no written report), S3883 [23MY] H.R. 7988 — A bill to amend the Small Business Act to include requirements relating to new small business entrants in the scorecard program, and for other purposes; to the Committee on Small Business. By Mr. STAUBER (for himself and Ms. Perez), H2395 [15AP] Reported (H. Rept. 118–547), H3724 [11JN] Rules suspended. Passed House, H3689 [11JN] Text, H3689 [11JN] Message from the House, S4049 [12JN] Referred to the Committee on Small Buiness and Entrepreneurship, S4049 [12JN] H.R. 7989 — A bill to provide for a memorandum of understanding between the Small Business Administration and the National Council on Disability to increase employment opportunities for individuals with disabilities, and for other purposes; to the Committee on Small Business. By Mr. MOLINARO (for himself and Mr. Pappas), H2395 [15AP] Reported (H. Rept. 118–538), H3654 [4JN] Rules suspended. Passed House, H3690 [11JN] Text, H3690 [11JN] Message from the House, S4049 [12JN] Referred to the Committee on Small Buiness and Entrepreneurship, S4049 [12JN] H.R. 7990 — A bill to extend the authorization for a large-scale water recycling and reuse grant program, and for other purposes; to the Committee on Natural Resources. By Mrs. NAPOLITANO (for herself, Mr. Grijalva, Mr. Huffman, and Ms. Lee of Nevada), H2395 [15AP] H.R. 7991 — A bill to amend the Internal Revenue Code of 1986 to modify the social security number requirements for claiming the child tax credit and earned income tax credit; to the Committee on Ways and Means. By Mr. HIGGINS of Louisiana (for himself, Mr. Davidson, Mr. Rosendale, Mr. Perry, Mr. Crane, Ms. Boebert, Mr. Ogles, Mr. Clyde, Mr. Burlison, Mr. Duncan, Mr. Brecheen, Mrs. Miller of Illinois, Mr. Norman, Mrs. Luna, Mr. Cline, Mr. Donalds, Mr. Posey, Mrs. Harshbarger, Mr. DesJarlais, Mr. Biggs, Mr. Harris, Mr. Weber of Texas, Mr. Cloud, Mr. Roy, Mr. Good of Virginia, Mr. Bishop of North Carolina, Mr. Tiffany, Mr. Green of Tennessee, Mr. Mast, Ms. Greene of Georgia, and Mr. Mills), H2396 [15AP] Cosponsors added, H2831 [1MY], H2876 [6MY], H2939 [7MY] H.R. 7992 — A bill to authorize funds and artifacts to benefit the Theodore Roosevelt Presidential Library in Medora, North Dakota, and for other purposes; to the Committee on Natural Resources. By Mr. ARMSTRONG (for himself, Mrs. Bice, Mr. Moylan, Ms. Kamlager-Dove, Mr. Stauber, Mr. Neguse, Mr. Zinke, Mr. Nadler, Ms. Lee of California, and Mr. Hunt), H2396 [15AP] Cosponsors added, H2623 [20AP] H.R. 7993 — A bill to amend the Internal Revenue Code of 1986 to reduce the rate of tax on estates, gifts, and generation-skipping transfers; to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ARRINGTON, H2396 [15AP] H.R. 7994 — A bill to support the direct care professional workforce, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, Ways and Means, the Judiciary, House Administration, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. DINGELL, H2396 [15AP] Cosponsors added, H2702 [29AP] H.R. 7995 — A bill to amend the Internal Revenue Code of 1986 to include equitable tolling for negligence or malfeasance by the Internal Revenue Service for the period of limitation on filing for a credit or refund of overpayment; to the Committee on Ways and Means. By Mr. DONALDS, H2396 [15AP] H.R. 7996 — A bill to amend title XIX of the Social Security Act to ensure Medicaid coverage of mental health services and primary care services furnished on the same day; to the Committee on Energy and Commerce. By Mr. DUNN of Florida (for himself and Ms. Craig), H2396 [15AP] Cosponsors added, H2771 [30AP] H.R. 7997 — A bill to amend the Trade Act of 1974 to provide for the automatic exclusion of China as a beneficiary country; to the Committee on Ways and Means. By Mr. DUNN of Florida, H2396 [15AP] H.R. 7998 — A bill to amend the Higher Education Act of 1965 to require institutions of higher education to track and record additional information on hate crimes, and for other purposes; to the Committee on Education and the Workforce. By Mr. ESPAILLAT, H2396 [15AP] Cosponsors added, H2636 [26AP], H2876 [6MY] H.R. 7999 — A bill to direct the Secretary of the Interior to encourage and incentivize rescue, rehabilitation, and appropriate reintroduction of threatened and endangered animals by establishing a Wildlife Confiscations Network, and for other purposes; to the Committee on Natural Resources. By Mr. GARBARINO (for himself and Mr. Quigley), H2396 [15AP] Cosponsors added, H3400 [21MY], H3486 [22MY], H3675 [5JN], H4110 [14JN] H.R. 8000 — A bill to limit closures and consolidations of United States Postal Service mail processing facilities, and for other purposes; to the Committee on Oversight and Accountability. By Mr. GOLDEN of Maine (for himself and Mr. Pfluger), H2396 [15AP] H.R. 8001 — A bill to impose sanctions on the Houthis for attacks on international shipping, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GREEN of Tennessee (for himself, Mr. Moskowitz, Mr. McCaul, Mr. Wilson of South Carolina, Ms. Salazar, and Mrs. Radewagen), H2396 [15AP] Cosponsors added, H2445 [16AP], H3275 [15MY] H.R. 8002 — A bill to amend the Public Utility Regulatory Policies Act of 1978 to require States to consider measures that limit the amount of retail utility rate increases a utility company can request to once every 365 days; to the Committee on Energy and Commerce. By Mr. HARDER of California, H2396 [15AP] H.R. 8003 — A bill to direct the Secretary of Agriculture to publish, on an annual basis, an assessment on United States dependency on critical agricultural products or inputs from the People’s Republic of China, and for other purposes; to the Committee on Agriculture. By Mrs. HINSON (for herself, Ms. Slotkin, Mr. Gallagher, Mr. Krishnamoorthi, Mr. Alford, Mr. Carson, Mr. Scott Franklin of Florida, Mr. Davis of North Carolina, Mrs. Wagner, Ms. Davids of Kansas, Mr. Kustoff, Mr. Edwards, Mr. Kean of New Jersey, Mr. LaHood, Mr. Finstad, Mr. Tony Gonzales of Texas, Mrs. Miller-Meeks, Mr. Newhouse, Mr. Nunn of Iowa, Mr. Van Orden, and Mrs. Chavez-DeRemer), H2396 [15AP] Cosponsors added, H2629 [23AP], H3206 [14MY], H3400 [21MY] H.R. 8004 — A bill to amend the Internal Revenue Code of 1986 to establish a refundable credit for qualified child care startup expenses; to the Committee on Ways and Means. By Mr. JACKSON of North Carolina (for himself, Mrs. Foushee, Ms. Barragán, Ms. Sánchez, Ms. Pressley, Ms. Chu, Mr. Kim of New Jersey, Ms. Tlaib, Ms. Titus, Ms. Norton, Ms. Ross, Mrs. Cherfilus-McCormick, Ms. Brownley, Ms. Jackson Lee, Mr. Takano, Mr. Deluzio, Mr. Frost, Mr. Casten, Mrs. Watson Coleman, Mrs. Ramirez, Ms. Perez, Mr. Nickel, Ms. Garcia of Texas, Mr. Carson, and Mr. Gottheimer), H2396 [15AP] Cosponsors added, H2503 [17AP], H2831 [1MY], H3331 [16MY], H4116 [18JN] H.R. 8005 — A bill to establish the Commission of Experts on Child Exploitation and Artificial Intelligence; to the Committee on the Judiciary. By Mr. LANGWORTHY (for himself, Mr. Fry, Mr. Lawler, Mr. Davis of North Carolina, Mrs. Miller of Illinois, Mr. Nunn of Iowa, Mr. Carson, Mrs. Hinson, Mr. Bacon, Ms. Adams, Ms. Tenney, and Mr. D’Esposito), H2396 [15AP] Cosponsors added, H2445 [16AP], H2702 [29AP], H3007 [10MY], H3275 [15MY], H3727 [11JN], H4064 [13JN] H.R. 8006 — A bill to establish an expedited petition process for the addition and removal of certain products from the lists of products eligible or ineligible for beneficial treatment under the Generalized System of Preferences, and for other purposes; to the Committee on Ways and Means. By Mrs. MILLER of West Virginia, H2396 [15AP] H.R. 8007 — A bill to amend the Internal Revenue Code of 1986 to make the postponement of certain deadlines by reason of federally declared disaster applicable to the limitation on credit or refund; to the Committee on Ways and Means. By Mr. MURPHY (for himself and Mr. Panetta), H2396 [15AP] Cosponsors added, H2702 [29AP] H.R. 8008 — A bill to award posthumously a Congressional Gold Medal to the Golden Thirteen, in recognition of their contributions to the Nation; to the Committee on Financial Services, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. NORTON, H2396 [15AP] H.R. 8009 — A bill to amend title 5, United States Code, to establish a Government Spending Oversight Committee within the Council of the Inspectors General on Integrity and Efficiency, and for other purposes; to the Committee on Oversight and Accountability. By Mr. RASKIN, H2396 [15AP] H.R. 8010 — A bill to modify designations of beneficiary countries under the Generalized System of Preferences; to the Committee on Ways and Means. By Mr. STEUBE, H2396 [15AP] H.R. 8011 — A bill to designate certain organizations as foreign terrorist organizations; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. STEUBE (for himself, Mr. Alford, Mr. Armstrong, Mr. Babin, Mr. Baird, Mr. Balderson, Mr. Banks, Mr. Biggs, Mr. Buchanan, Mr. Burchett, Mrs. Chavez-DeRemer, Mr. Cline, Mr. Crane, Mr. Crawford, Mr. Crenshaw, Mr. DesJarlais, Mr. Duarte, Mr. Duncan, Mr. Dunn of Florida, Mr. Fallon, Mr. Feenstra, Mr. Finstad, Mr. Fry, Mr. Tony Gonzales of Texas, Mr. Gooden of Texas, Mr. Hern, Mrs. Hinson, Mr. Hunt, Mr. Jackson of Texas, Mrs. Kiggans of Virginia, Mr. LaMalfa, Mr. Lamborn, Mr. Langworthy, Ms. Malliotakis, Mr. McClintock, Mrs. Miller of West Virginia, Mrs. Miller of Illinois, Mrs. Miller-Meeks, Mr. Moolenaar, Mr. Mooney, Mr. Moore of Alabama, Mr. Newhouse, Mr. Ogles, Mr. Palmer, Mr. Pfluger, Mr. Reschenthaler, Mr. Rutherford, Ms. Salazar, Mr. Schweikert, Mr. Self, Mr. Sessions, Mr. Smith of New Jersey, Ms. Tenney, Mr. Tiffany, Mr. Timmons, Mr. Van Drew, Mr. Weber of Texas, Mr. Williams of New York, Mr. Wilson of South Carolina, and Mr. Austin Scott of Georgia), H2396 [15AP] Cosponsors added, H2445 [16AP], H3400 [21MY] H.R. 8012 — A bill to establish the Jackie Robinson Ballpark National Commemorative Site in the State of Florida, and for other purposes; to the Committee on Natural Resources. By Mr. WALTZ (for himself, Mr. Soto, Mr. Dunn of Florida, Mr. Fleischmann, Ms. Lee of Florida, Mr. Mills, Ms. Salazar, Mr. Webster of Florida, Mr. Moylan, Mr. Gaetz, Mrs. McClain, Mr. Gimenez, Mr. Jackson of Texas, Mrs. Watson Coleman, Mr. Bean of Florida, Mr. Posey, Mr. Bilirakis, Mrs. Luna, Mr. Steube, Mr. Buchanan, Mr. Mast, Mrs. Cammack, Mr. Rutherford, Mr. Scott Franklin of Florida, Mr. Frost, Ms. Castor of Florida, Mr. Donalds, Mrs. Cherfilus-McCormick, Ms. Lois Frankel of Florida, Mr. Moskowitz, Ms. Wilson of Florida, Ms. Wasserman Schultz, Mr. Diaz-Balart, Mr. Davis of North Carolina, Ms. Stevens, Mr. Carbajal, Ms. Maloy, and Mr. Armstrong), H2396 [15AP] Cosponsors added, H2523 [18AP], H2560 [19AP], H2629 [23AP], H3206 [14MY], H3275 [15MY], H3486 [22MY], H3583 [3JN] H.R. 8013 — A bill to amend the Internal Revenue Code of 1986 to require payroll tax withholding on independent contractors of certain large businesses; to the Committee on Ways and Means. By Mrs. WATSON COLEMAN (for herself, Ms. Norton, Ms. Tlaib, Mr. Carson, Ms. Schakowsky, Mr. Bowman, Mr. Thanedar, Mrs. Hayes, Ms. Lee of California, Ms. Ocasio-Cortez, Ms. Lee of Pennsylvania, Mrs. Ramirez, and Mr. Menendez), H2397 [15AP] Cosponsors added, H2702 [29AP], H2876 [6MY], H4116 [18JN] H.R. 8014 — A bill to require the Administrator of the Small Business Administration to issue rules for cancelled covered solicitations, to amend the Small Business Act to provide assistance to small business concerns relating to certain cancelled solicitations, and for other purposes; to the Committee on Small Business. By Mr. MFUME (for himself and Mr. Alford), H2443 [16AP] Reported (H. Rept. 118–539), H3654 [4JN] Rules suspended. Passed House, H3693 [11JN] Text, H3693 [11JN] Message from the House, S4049 [12JN] Referred to the Committee on Small Buiness and Entrepreneurship, S4049 [12JN] H.R. 8015 — A bill to ensure the Department of Homeland Security is appropriately measuring the scope of certain border security matters, and for other purposes; to the Committee on Homeland Security. By Mr. STANTON (for himself and Mr. Ciscomani), H2443 [16AP] H.R. 8016 — A bill to exclude the Arizona Families Tax Rebate from Federal income tax; to the Committee on Ways and Means. By Mr. STANTON (for himself and Mr. Schweikert), H2443 [16AP] H.R. 8017 — A bill to provide for the long-term improvement of minority-serving institutions, and for other purposes; to the Committee on Education and the Workforce. By Ms. ADAMS, H2443 [16AP] H.R. 8018 — A bill to require the Administrator of the Centers for Medicare & Medicaid Services and the Commissioner of Social Security to review and simplify the processes, procedures, forms, and communications for family caregivers to assist individuals in establishing eligibility for, enrolling in, and maintaining and utilizing coverage and benefits under the Medicare, Medicaid, CHIP, and Social Security programs respectively, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. CAMMACK (for herself, Mr. Magaziner, Ms. Malliotakis, and Mr. Panetta), H2443 [16AP] Cosponsors added, H2560 [19AP], H2876 [6MY], H3400 [21MY], H3583 [3JN] H.R. 8019 — A bill to require the Secretary of the Treasury to mint commemorative coins in recognition of Selena Quintanilla; to the Committee on Financial Services. By Ms. De La Cruz (for herself, Mr. Cloud, Ms. Crockett, and Mr. Weber of Texas), H2443 [16AP] H.R. 8020 — A bill to require the Secretary of Health and Human Services to publish data on the Unaccompanied Children Program; to the Committee on the Judiciary. By Ms. ESHOO, H2443 [16AP] H.R. 8021 — A bill to amend Public Law 86-272 to expand the prohibition of State taxation relating to certain solicitation of orders; to the Committee on the Judiciary. By Mr. FITZGERALD (for himself, Mr. Tiffany, Mr. Grothman, and Mr. Steil), H2443 [16AP] H.R. 8022 — A bill to amend the Natural Gas Act to establish a deadline for the review of applications for natural gas export and import orders, and for other purposes; to the Committee on Energy and Commerce. By Mr. HIGGINS of Louisiana, H2443 [16AP] Cosponsors added, H3682 [7JN] H.R. 8023 — A bill to require the Federal Trade Commission to include in the report of the Commission under the Elder Abuse Prevention and Prosecution Act certain information relating to scams disproportionately impacting seniors during emergencies, and for other purposes; to the Committee on Energy and Commerce. By Ms. KELLY of Illinois (for herself and Mr. Balderson), H2443 [16AP] Cosponsors added, H3976 [12JN] H.R. 8024 — A bill to amend the Agricultural Credit Act of 1978 to authorize assistance for emergency measures in response to pine beetle outbreaks, and for other purposes; to the Committee on Agriculture. By Mr. KELLY of Mississippi (for himself, Mr. Thompson of Mississippi, Mr. Guest, and Mr. Ezell), H2443 [16AP] H.R. 8025 — A bill to amend title 10, United States Code, to clarify roles and responsibilities within the Department of Defense relating to subconcussive and concussive brain injuries and to improve brain health initiatives of the Department of Defense, and for other purposes; to the Committee on Armed Services. By Mr. KHANNA (for himself, Ms. Stefanik, Ms. Houlahan, Mrs. Kiggans of Virginia, Ms. Lee of Nevada, Mr. Waltz, Mr. Bishop of Georgia, Mr. Moulton, Ms. Pingree, Mr. Golden of Maine, and Mr. Panetta), H2443 [16AP] Cosponsors added, H2702 [29AP], H3727 [11JN] H.R. 8026 — A bill to modernize the formulas for allocation of Community Development Block Grant Program grants for entitlement communities to more effectively target such amounts for community development needs, and for other purposes; to the Committee on Financial Services. By Mr. KUSTOFF (for himself and Mr. Hill), H2443 [16AP] Cosponsors added, H2939 [7MY] H.R. 8027 — A bill to authorize a civil right of action for individuals affected by video voyeurism, and for other purposes; to the Committee on the Judiciary. By Ms. MACE (for herself and Mr. Green of Texas), H2443 [16AP] H.R. 8028 — A bill to reauthorize the Second Chance Act of 2007; to the Committee on the Judiciary. By Mrs. MILLER of West Virginia (for herself, Mr. Davis of Illinois, Mr. Moore of Alabama, Ms. Jackson Lee, Mr. Westerman, Mr. Scott of Virginia, Mr. Armstrong, Mr. Nadler, Mr. Turner, and Mr. LaHood), H2443 [16AP] Cosponsors added, H2629 [23AP], H3682 [7JN] H.R. 8029 — A bill to require the Secretary of Veterans Affairs to submit to Congress a report on abortions facilitated by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mrs. MILLER-MEEKS (for herself, Mr. Murphy, and Mr. Rosendale), H2443 [16AP] Cosponsors added, H2939 [7MY], H3007 [10MY] H.R. 8030 — A bill to amend the Water Infrastructure Finance and Innovation Act of 2014 with respect to the total amount of Federal assistance for projects in States experiencing severe drought and projects in historically disadvantaged communities, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PETERS (for himself, Ms. Barragán, Mr. Ruiz, and Mr. Vargas), H2443 [16AP] Cosponsors added, H2636 [26AP] H.R. 8031 — A bill to establish the Chuckwalla National Monument and expand Joshua Tree National Park in the State of California, and for other purposes; to the Committee on Natural Resources. By Mr. RUIZ, H2444 [16AP] H.R. 8032 — A bill to authorize the Low-Income Household Water Assistance Program, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SORENSEN (for himself, Mrs. Chavez-DeRemer, Ms. Schrier, and Mrs. González-Colón), H2444 [16AP] H.R. 8033 — A bill to amend title 5, United States Code, to clarify the information required to be included in a certification by an agency that a rule will not have a significant economic impact on a substantial number of small entities; to the Committee on the Judiciary, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LUETKEMEYER (for himself, Mr. Meuser, Mr. Mann, and Ms. Salazar), H2500 [17AP] H.R. 8034 — A bill making emergency supplemental appropriations to respond to the situation in Israel and for related expenses for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. COLE (for himself, Mr. Calvert, and Mr. Diaz-Balart), H2500 [17AP] Providing for consideration (H. Res. 1160), H2557 [19AP] Debated, H2607 [20AP] Text, H2607 [20AP] Passed House, H2621 [20AP] H.R. 8035 — A bill making emergency supplemental appropriations to respond to the situation in Ukraine and for related expenses for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. COLE (for himself, Mr. Calvert, and Mr. Diaz-Balart), H2501 [17AP] Providing for consideration (H. Res. 1160), H2557 [19AP] Debated, H2593 [20AP] Text, H2598 [20AP] Amendments, H2603, H2604, H2606 [20AP] Motion to recommit rejected, H2620 [20AP] Passed House amended, H2621 [20AP] H.R. 8036 — A bill making emergency supplemental appropriations for assistance for the Indo-Pacific region and for related expenses for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. COLE (for himself, Mr. Calvert, and Mr. Diaz-Balart), H2501 [17AP] Providing for consideration (H. Res. 1160), H2557 [19AP] Debated, H2587 [20AP] Text, H2587 [20AP] Amendments, H2592 [20AP] Passed House amended, H2617 [20AP] H.R. 8037 — A bill to continue to fund the IMPROVE initiative through the Eunice Kennedy Shriver National Institute of Child Health and Human Development, and for other purposes; to the Committee on Energy and Commerce. By Ms. UNDERWOOD (for herself, Mr. Fitzpatrick, and Mr. Torres of New York), H2501 [17AP] H.R. 8038 — A bill to authorize the President to impose certain sanctions with respect to Russia and Iran, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Ways and Means, Armed Services, the Budget, Rules, Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. McCAUL, H2501 [17AP] Cosponsors added, H2523 [18AP], H2560 [19AP] Providing for consideration (H. Res. 1160), H2557 [19AP] Debated, H2561 [20AP] Text, H2565 [20AP] Passed House amended, H2615 [20AP] H.R. 8039 — A bill to amend the Higher Education Act of 1965 to establish immigration and residency requirements for individuals served by Federal TRIO programs, and for other purposes; to the Committee on Education and the Workforce. By Mr. BANKS (for himself and Ms. Foxx), H2501 [17AP] H.R. 8040 — A bill to limit the closure or consolidation of any United States Postal Service processing and distribution center in Postal Service regions that have failed to meet certain delivery standards, and for other purposes; to the Committee on Oversight and Accountability. By Ms. BUDZINSKI (for herself and Mr. Bergman), H2501 [17AP] Cosponsors added, H2831 [1MY], H3007 [10MY], H3206 [14MY], H3531 [24MY], H3583 [3JN], H3976 [12JN], H4116 [18JN] H.R. 8041 — A bill to authorize the Secretary of Transportation to extend the duration of the exemption from pre-trip vehicle skills testing for school bus drivers, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. CARTER of Texas (for himself, Ms. Foxx, Mr. Sessions, Mr. Ruppersberger, Mr. Thompson of Pennsylvania, and Mr. Cuellar), H2501 [17AP] Cosponsors added, H2560 [19AP], H2629 [23AP], H2636 [26AP], H2702 [29AP], H2876 [6MY], H3583 [3JN], H3675 [5JN] H.R. 8042 — A bill to authorize the Secretary of Health and Human Services to award grants to qualified entities to support community paramedicine programs, and for other purposes; to the Committee on Energy and Commerce. By Mr. CLEAVER (for himself and Mr. Armstrong), H2501 [17AP] Cosponsors added, H2560 [19AP], H3206 [14MY], H3331 [16MY], H4064 [13JN] H.R. 8043 — A bill to impose certain sanctions relating to the People’s Republic of China and support for the Russian invasion of Ukraine, and for other purposes; to the Committee on Foreign Affairs. By Mr. GALLAGHER (for himself, Mr. Panetta, Mr. Moolenaar, and Mr. Golden of Maine), H2501 [17AP] Cosponsors added, H2702 [29AP] H.R. 8044 — A bill to amend title II of the Social Security Act to require the Commissioner of Social Security to use the Consumer Price Index for Elderly Consumers for purposes of determining cost-of-living adjustments under titles II, VIII, and XVI of the Social Security Act, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GALLEGO, H2501 [17AP] Cosponsors added, H4110 [14JN] H.R. 8045 — A bill to limit the closure or consolidation of any United States Postal Service processing and distribution center in States, and for other purposes; to the Committee on Oversight and Accountability. By Ms. HAGEMAN (for herself and Mr. Pappas), H2501 [17AP] Cosponsors added, H2636 [26AP], H2939 [7MY], H3526 [23MY] H.R. 8046 — A bill to impose sanctions with respect to Rosatom, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KEAN of New Jersey, H2501 [17AP] Cosponsors added, H3206 [14MY], H3275 [15MY], H3331 [16MY], H3400 [21MY], H3583 [3JN] H.R. 8047 — A bill to support communities that host transmission lines and to promote conservation and recreation, and for other purposes; to the Committee on Energy and Commerce. By Ms. KUSTER, H2501 [17AP] H.R. 8048 — A bill to authorize the Secretary of Veterans Affairs to determine the eligibility or entitlement of a member or former member of the Armed Forces described in subsection (a) to a benefit under a law administered by the Secretary solely based on alternative sources of evidence when the military service records or medical treatment records of the member or former member are incomplete because of damage or loss of records after being in the possession of the Federal Government, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. McGARVEY (for himself, Mr. Edwards, Mr. Morelle, and Ms. Tenney), H2501 [17AP] H.R. 8049 — A bill to amend the Internal Revenue Code of 1986 to prohibit treatment of certain distributions and reimbursements for certain abortions as qualified medical expenses; to the Committee on Ways and Means. By Mr. MOONEY (for himself, Mr. Rosendale, Mr. Duncan, Mrs. Miller of Illinois, Mr. Crenshaw, Mr. Gosar, Mr. Good of Virginia, and Mr. Webster of Florida), H2501 [17AP] Cosponsors added, H2629 [23AP], H3275 [15MY] H.R. 8050 — A bill to amend the Higher Education Act of 1965 to support and strengthen outcomes for student parents through the provision of child care services, and for other purposes; to the Committee on Education and the Workforce. By Mr. MORAN, H2501 [17AP] H.R. 8051 — A bill to prohibit the consideration in the House of Representatives of any legislation containing an earmark; to the Committee on Rules. By Mr. NORMAN (for himself, Mr. Perry, Mr. Rosendale, Mr. Tiffany, Mr. Ogles, Mr. McClintock, Mr. Good of Virginia, and Mrs. Spartz), H2501 [17AP] Cosponsors added, H2702 [29AP], H2771 [30AP], H2876 [6MY], H3275 [15MY] H.R. 8052 — A bill to temporarily apply the E10 Reid vapor pressure limitations to E15 in the States of Illinois, Iowa, Minnesota, Missouri, Nebraska, Ohio, South Dakota, and Wisconsin; to the Committee on Energy and Commerce. By Mr. NUNN of Iowa (for himself, Mr. Smith of Nebraska, Mr. Finstad, Mr. Bacon, Ms. Budzinski, and Mr. Sorensen), H2501 [17AP] H.R. 8053 — A bill to amend the Communications Act of 1934 to prohibit Federal funding for the Corporation for Public Broadcasting, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PERRY (for himself, Mrs. Miller of Illinois, Mr. Massie, and Mr. Ogles), H2501 [17AP] Cosponsors added, H2831 [1MY] H.R. 8054 — A bill to ensure fairness and transparency in the processes used by the Navy to award contracts for ship maintenance and repair, and for other purposes; to the Committee on Armed Services. By Mr. PETERS (for himself and Mrs. Kiggans of Virginia), H2501 [17AP] Cosponsors added, H3400 [21MY] H.R. 8055 — A bill to amend the Federal Crop Insurance Act to establish a minimum rate of reimbursement for administrative and operating expenses with respect to crop insurance contracts covering specialty crops and to restore the annual inflation adjustment with respect to the general reimbursement rate for administrative and operating expenses; to the Committee on Agriculture. By Mr. AUSTIN SCOTT of Georgia (for himself, Mr. Mann, and Mr. Panetta), H2501 [17AP] Cosponsors added, H2939 [7MY], H3486 [22MY] H.R. 8056 — A bill to amend the Workforce Innovation and Opportunity Act to establish a digital skills at work grant program; to the Committee on Education and the Workforce. By Ms. SPANBERGER (for herself and Mr. Valadao), H2501 [17AP] Cosponsors added, H3543 [31MY], H4064 [13JN] H.R. 8057 — A bill to designate the facility of the United States Postal Service located at 9317 Bolsa Avenue in Westminster, California, as the ‘‘Little Saigon Vietnam War Veterans Memorial Post Office’’; to the Committee on Oversight and Accountability. By Mrs. STEEL (for herself, Mr. Schiff, Ms. Lee of California, Mr. Sherman, Mr. Issa, Mr. Valadao, Mr. LaMalfa, Mr. Swalwell, Mr. Obernolte, Mr. Costa, Mr. Gomez, Mr. Panetta, Mr. Duarte, Mr. Harder of California, Ms. Chu, Mr. Calvert, Mr. Mullin, Mr. Correa, Mr. DeSaulnier, Mr. Mike Garcia of California, Mr. Levin, Mr. Thompson of California, Mr. Khanna, Mr. Robert Garcia of California, Mr. Carbajal, Ms. Jacobs, Mr. Peters, Ms. Kamlager-Dove, Mr. Lieu, Mrs. Kim of California, Ms. Lofgren, Mr. Vargas, Ms. Brownley, Ms. Eshoo, Mr. McClintock, Mr. Kiley, Ms. Barragán, and Mr. Aguilar), H2501 [17AP] Cosponsors added, H3000 [8MY], H3486 [22MY], H3682 [7JN] H.R. 8058 — A bill to establish and implement an informational campaign and national strategy to prevent minors from working with cartels and transnational criminal organizations; to the Committee on the Judiciary. By Mr. VASQUEZ (for himself and Mr. Lamborn), H2501 [17AP] H.R. 8059 — A bill to eliminate the incentive to distribute e-commerce shipments from foreign countries by providing parity to United States foreign-trade zones, and for other purposes; to the Committee on Ways and Means. By Mr. WENSTRUP (for himself, Mr. Correa, Mrs. Miller of West Virginia, Mr. Gallego, Mr. Fitzpatrick, and Mr. Carey), H2501 [17AP] H.R. 8060 — A bill to amend the Immigration and Nationality Act to require the notification of appropriate elected officials prior to the placement of refugees in a State; to the Committee on the Judiciary. By Mr. VAN ORDEN (for himself, Mr. Crenshaw, Mr. Armstrong, Mr. Weber of Texas, Mr. Duncan, Mr. Tiffany, and Mr. Mast), H2520 [18AP] Cosponsors added, H2636 [26AP], H3400 [21MY], H3526 [23MY], H3657 [4JN] H.R. 8061 — A bill to temporarily provide additional deposits into the Crime Victims Fund; to the Committee on the Judiciary. By Mrs. WAGNER (for herself, Mr. Moran, Mrs. Dingell, Mrs. Bice, and Mr. Costa), H2520 [18AP] Cosponsors added, H2623 [20AP], H2636 [26AP], H2702 [29AP], H2939 [7MY], H3000 [8MY], H3007 [10MY], H3206 [14MY], H3275 [15MY], H3400 [21MY], H3486 [22MY], H3531 [24MY], H3535 [28MY], H3543 [31MY], H3583 [3JN], H3657 [4JN], H3682 [7JN], H3727 [11JN], H3976 [12JN], H4064 [13JN], H4110 [14JN], H4116 [18JN] H.R. 8062 — A bill to amend the Surface Mining Control and Reclamation Act of 1977 to strengthen control of the environmental impacts of surface coal mining, and for other purposes; to the Committee on Natural Resources. By Mr. BEYER, H2520 [18AP] H.R. 8063 — A bill to authorize the Secretary of the Army to posthumously award the Distinguished Service Cross to William D. Owens for his valorous actions from June 6, 1944, to June 8, 1944, during World War II at La Fiere Bridge in Normandy, France, while serving with the 505th Parachute Infantry; to the Committee on Armed Services. By Ms. BROWNLEY (for herself and Mr. Schiff), H2520 [18AP] Committee discharged. Passed House, H2987 [8MY] Text, H2987 [8MY] Message from the House, S3650 [9MY] H.R. 8064 — A bill to amend title XVIII of the Social Security Act to provide for coverage under the Medicare program of hearing aids and related hearing services; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARTWRIGHT (for himself, Mr. Lawler, Mr. Grijalva, Ms. Dean of Pennsylvania, Mr. Cárdenas, Ms. McCollum, Mr. Takano, and Mr. Thompson of California), H2520 [18AP] Cosponsors added, H3007 [10MY] H.R. 8065 — A bill to require the Secretary of Health and Human Services, acting through the Assistant Secretary for Preparedness and Response, to carry out a program under which the Secretary requires each regulated seller of a highly infectious agent to comply with certain logbook requirements, and for other purposes; to the Committee on Energy and Commerce. By Mr. COSTA (for himself and Mr. Kiley), H2520 [18AP] Cosponsors added, H2831 [1MY] H.R. 8066 — A bill to require a report on the United States supply of nitrocellulose; to the Committee on Armed Services. By Mr. EMMER (for himself, Mr. Stauber, Mrs. Fischbach, Mr. Finstad, Mr. Crawford, and Mr. Westerman), H2520 [18AP] Cosponsors added, H2636 [26AP] H.R. 8067 — A bill to amend the Internal Revenue Code of 1986 to require additional information on math and clerical error notices; to the Committee on Ways and Means. By Mr. FEENSTRA (for himself and Mr. Schneider), H2520 [18AP] H.R. 8068 — A bill to amend the Balanced Budget and Emergency Deficit Control Act of 1985 to exclude resources designated as an emergency requirement or any resources provided in supplemental appropriations laws from CBO baseline projections for discretionary appropriations, and for other purposes; to the Committee on the Budget. By Mr. GROTHMAN (for himself, Mr. Cloud, Ms. Mace, Mr. Norman, Mr. Ogles, Mr. Weber of Texas, and Mr. Case), H2520 [18AP] Cosponsors added, H2771 [30AP], H3486 [22MY], H4110 [14JN] H.R. 8069 — A bill to amend the Public Health Service Act to encourage qualified individuals to enter the forensic pathology workforce, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GUEST (for himself and Mr. Cleaver), H2520 [18AP] H.R. 8070 — A bill to authorize appropriations for fiscal year 2025 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; to the Committee on Armed Services. By Mr. ROGERS of Alabama (for himself, Mr. Smith of Washington, Mr. Bacon, Ms. Houlahan, Ms. Mace, Ms. Escobar, Mr. Luttrell, Ms. Jacobs, Mrs. Kiggans of Virginia, Ms. Strickland, Mr. Moylan, Mr. Davis of North Carolina, Mr. Alford, Mr. Kim of New Jersey, and Mr. Banks), H2521 [18AP] Reported with amendment (H. Rept. 118–529), H3541 [31MY] Providing for consideration (H. Res. 1287), H3724 [11JN] Debated, H3767 [12JN], H3990 [13JN], H4067 [14JN] Text, H3777 [12JN] Amendments, H3938, H3939, H3940, H3941, H3942, H3943, H3944, H3945, H3946, H3947, H3948, H3949, H3950, H3951, H3952, H3954, H3955, H3956, H3958, H3959, H3961, H3962, H3963, H3964 [12JN], H3990, H3991, H3993, H3994, H3995, H3997, H3998, H4000, H4001, H4003, H4004, H4006, H4007, H4008, H4009, H4011, H4012, H4014, H4015, H4016, H4017, H4018, H4019, H4020, H4021, H4022, H4023, H4024, H4025, H4026, H4028, H4029, H4030, H4031, H4032, H4033, H4034, H4035, H4036 [13JN], H4067, H4068, H4069, H4070, H4071, H4072, H4073, H4074, H4075, H4077, H4078, H4079, H4080, H4081, H4082, H4083, H4084, H4085, H4086, H4087, H4089, H4091, H4092 [14JN] Motion to recommit rejected, H4096 [14JN] Passed House amended, H4097 [14JN] Engrossment corrections, H4097 [14JN] H.R. 8071 — A bill to amend the Federal Financial Institutions Examination Council Act of 1978 to improve the examination of depository institutions, and for other purposes; to the Committee on Financial Services. By Mr. HILL (for himself and Mr. David Scott of Georgia), H2521 [18AP] H.R. 8072 — A bill to direct the Federal Communications Commission to take certain actions to increase diversity of ownership in the broadcasting industry, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HORSFORD (for himself, Mrs. Beatty, Ms. Clarke of New York, Mr. Johnson of Georgia, Mr. Mr van, Mr. Neguse, Ms. Norton, Ms. Schakowsky, and Mr. Soto), H2521 [18AP] Cosponsors added, H2939 [7MY] H.R. 8073 — A bill to provide for a limitation on obligation and expenditure of funds for bilateral economic assistance to the Republic of El Salvador, the Republic of Guatemala, and the Republic of Honduras; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MACE (for herself, Mr. Rosendale, and Mr. Gooden of Texas), H2521 [18AP] H.R. 8074 — A bill to phase out production of nonessential uses of perfluoroalkyl or polyfluoroalkyl substances, to prohibit releases of all perfluoroalkyl or polyfluoroalkyl substances, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Oversight and Accountability, Science, Space, and Technology, Transportation and Infrastructure, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. McCOLLUM (for herself and Ms. Pingree), H2521 [18AP] H.R. 8075 — A bill to amend title XVIII of the Social Security Act to provide for Medicare coverage of staff-assisted home dialysis for certain hemodialysis and peritoneal dialysis patients and to ensure all patients are educated on modality options and receive the resources, information, and support to succeed on the modality of their choice, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. MILLER of West Virginia (for herself, Mrs. Miller-Meeks, Ms. Strickland, and Mr. Blumenauer), H2521 [18AP] Cosponsors added, H2771 [30AP], H2876 [6MY], H3583 [3JN] H.R. 8076 — A bill to establish effluent limitations guidelines and standards and water quality criteria for perfluoroalkyl and polyfluoroalkyl substances under the Federal Water Pollution Control Act, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. PAPPAS (for himself, Mr. Fitzpatrick, Mr. Kildee, and Mr. Posey), H2521 [18AP] Cosponsors added, H2629 [23AP], H2636 [26AP], H2831 [1MY], H3007 [10MY], H3400 [21MY], H3486 [22MY], H3543 [31MY], H3976 [12JN], H4064 [13JN] H.R. 8077 — A bill to amend title 11 of the United States Code to address misuse of bankruptcy proceedings in cases of child sex abuse, and for other purposes; to the Committee on the Judiciary. By Ms. ROSS (for herself and Ms. Tenney), H2521 [18AP] H.R. 8078 — A bill to authorize Federal support of States in piloting interoperable State-based repositories of sepsis cases, and for other purposes; to the Committee on Energy and Commerce. By Ms. SHERRILL (for herself and Mr. Bucshon), H2521 [18AP] H.R. 8079 — A bill to provide for water conservation, drought operations, and drought resilience at water resources development projects, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. STANTON (for himself, Mr. Ciscomani, Ms. Titus, Ms. Lee of Nevada, and Mr. Gallego), H2521 [18AP] H.R. 8080 — A bill to amend the Public Health Service Act to direct the Secretary of Health and Human Services to establish and implement a department-wide after-action program and a risk communication strategy, and for other purposes; to the Committee on Energy and Commerce. By Mr. TORRES of New York, H2521 [18AP] Cosponsors added, H4116 [18JN] H.R. 8081 — A bill to terminate United States Secret Service protection for felons; to the Committee on the Judiciary. By Mr. THOMPSON of Mississippi (for himself, Mr. Carter of Louisiana, Ms. Lee of California, Ms. Wilson of Florida, Ms. Clarke of New York, Mrs. Watson Coleman, Ms. Crockett, Mrs. Beatty, and Mr. Cohen), H2557 [19AP] H.R. 8082 — A bill To provide that certain actions by the Federal Communications Commission shall have no force or effect; to the Committee on Energy and Commerce. By Mr. SMITH of New Jersey, H2558 [19AP] H.R. 8083 — A bill to prohibit Federal funding for National Public Radio, and for other purposes; to the Committee on Energy and Commerce. By Mr. BANKS (for himself, Mr. Meuser, Mr. Duncan, Mrs. Cammack, Mr. Weber of Texas, Mr. LaMalfa, and Mr. Babin), H2558 [19AP] Cosponsors added, H2629 [23AP], H3275 [15MY], H3657 [4JN] H.R. 8084 — A bill to amend title XIX of the Social Security Act to require States to verify certain eligibility criteria for individuals enrolled for medical assistance quarterly, and for other purposes; to the Committee on Energy and Commerce. By Mr. BILIRAKIS (for himself and Ms. Craig), H2558 [19AP] H.R. 8085 — A bill to require the Federal Energy Regulatory Commission to promulgate regulations that accelerate the interconnection of electric generation and storage resources to the transmission system through more efficient and effective interconnection procedures; to the Committee on Energy and Commerce. By Ms. CASTOR of Florida, H2558 [19AP] H.R. 8086 — A bill to amend the Federal Fire Prevention and Control Act of 1974 to update the fire prevention and control guidelines to require the mandatory installation of carbon monoxide alarms in all places of public accommodation, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CRAIG (for herself, Ms. Kuster, and Mr. Levin), H2558 [19AP] H.R. 8087 — A bill to reauthorize funding for the Solid Waste Infrastructure for Recycling Grant Program of the Environmental Protection Agency; to the Committee on Transportation and Infrastructure. By Mr. ESPAILLAT (for himself, Ms. Tlaib, Mr. Carson, Mr. Sablan, Mrs. Ramirez, Mr. Evans, and Mr. Johnson of Georgia), H2558 [19AP] H.R. 8088 — A bill to authorize reimbursement to applicants for uniformed military service for co-payments of medical appointments required as part of the Military Entrance Processing Station (MEPS) process; to the Committee on Armed Services. By Mr. FINSTAD (for himself and Ms. Craig), H2558 [19AP] H.R. 8089 — A bill to amend title XIX of the Social Security Act to require certain additional provider screening under the Medicaid program; to the Committee on Energy and Commerce. By Mr. MIKE GARCIA of California (for himself and Mr. Peters), H2558 [19AP] H.R. 8090 — A bill to amend the Homeland Security Act of 2002 to establish a council within the Department of Homeland Security to coordinate departmental efforts to identify, address, and mitigate cross-functional impacts of global climate change with respect to the Department’s programs and operations, and for other purposes; to the Committee on Homeland Security. By Mr. GOLDMAN of New York (for himself, Mr. Thompson of Mississippi, and Mr. Carter of Louisiana), H2558 [19AP] H.R. 8091 — A bill to prohibit Federal funding of National Public Radio and the use of Federal funds to acquire radio content; to the Committee on Energy and Commerce. By Mr. GOOD of Virginia (for himself, Mr. Perry, Mr. Duncan, Mr. Bishop of North Carolina, Mrs. Miller of Illinois, Mr. Clyde, Mr. Crane, Mr. Jackson of Texas, and Mr. Harris), H2558 [19AP] Cosponsors added, H2831 [1MY], H3358 [17MY] H.R. 8092 — A bill to require the Administrator of the Environmental Protection Agency to carry out certain activities to protect communities from the harmful effects of plastics, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, Agriculture, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HUFFMAN (for himself and Ms. McCollum), H2558 [19AP] Cosponsors added, H3535 [28MY], H3976 [12JN] H.R. 8093 — A bill to amend the State Justice Institute Act of 1984 to authorize the State Justice Institute to provide awards to certain organizations to establish a State judicial threat intelligence and resource center; to the Committee on the Judiciary. By Ms. JACKSON LEE (for herself and Mr. McCaul), H2558 [19AP] Cosponsors added, H3486 [22MY], H3526 [23MY], H3531 [24MY], H3543 [31MY], H4064 [13JN] H.R. 8094 — A bill to amend title XIX of the Social Security Act to modify certain asset recovery rules; to the Committee on Energy and Commerce. By Mr. KEAN of New Jersey, H2558 [19AP] H.R. 8095 — A bill to amend the Internal Revenue Code of 1986 to extend the energy credit with respect to electrochromic glass; to the Committee on Ways and Means. By Mr. KELLY of Mississippi (for himself, Mr. Horsford, and Mr. LaHood), H2558 [19AP] H.R. 8096 — A bill to amend the Commodity Exchange Act to prohibit trading of water and water rights for future delivery, and for other purposes; to the Committee on Agriculture. By Mr. KHANNA (for himself, Ms. Tlaib, Ms. Bush, Mr. Carson, Ms. Ocasio-Cortez, Ms. Adams, Ms. Omar, Mr. Garcia of Illinois, Mrs. Watson Coleman, Ms. Schakowsky, Mrs. Ramirez, Ms. Lee of California, Ms. Norton, Mr. Bowman, Mrs. Hayes, and Mr. Pocan), H2558 [19AP] H.R. 8097 — A bill to reauthorize the Radiation Exposure Compensation Act; to the Committee on the Judiciary. By Ms. MALOY (for herself and Mr. Owens), H2558 [19AP] H.R. 8098 — A bill to amend title 28, United States Code, to provide an Inspector General for the judicial branch, and for other purposes; to the Committee on the Judiciary. By Ms. STANSBURY (for herself, Mr. Raskin, Ms. Omar, Mr. Carter of Louisiana, Mr. Huffman, Ms. McCollum, Ms. Norton, Mrs. Ramirez, Ms. Schakowsky, Mr. Schiff, and Ms. Tokuda), H2558 [19AP] Cosponsors added, H3486 [22MY], H3583 [3JN] H.R. 8099 — A bill to require the Director of the Federal Housing Finance Agency to assess the costs and benefits of requiring the enterprises obtain 2 rather than 3 credit reports and credit scores, and for other purposes; to the Committee on Financial Services. By Mr. TORRES of New York (for himself and Mrs. Kim of California), H2558 [19AP] H.R. 8100 — A bill to provide for the issuance of a Great Lakes Restoration Semipostal Stamp; to the Committee on Oversight and Accountability, and in addition to the Committees on Transportation and Infrastructure, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WALBERG (for himself, Mrs. Dingell, Mr. Bergman, Mr. Kildee, Mrs. McClain, Ms. Stevens, Mr. Moolenaar, Ms. Slotkin, Mr. Huizenga, Ms. Moore of Wisconsin, and Ms. Stefanik), H2558 [19AP] H.R. 8101 — A bill to ensure that certain permit approvals by the Environmental Protection Agency have the force and effect of law, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. BEAN of Florida (for himself, Mr. Webster of Florida, Mr. Donalds, Mr. Gimenez, Mrs. Cammack, Mr. Waltz, Mr. Rutherford, and Mr. Mast), H2622 [20AP] Cosponsors added, H2636 [26AP], H3206 [14MY] H.R. 8102 — A bill to amend the Internal Revenue Code of 1986 to provide an above-the-line deduction for flood insurance premiums; to the Committee on Ways and Means. By Mr. DONALDS, H2622 [20AP] H.R. 8103 — A bill to amend the Homeland Security Act of 2002 to make certain improvements in the Office for Civil Rights and Civil Liberties of the Department of Homeland Security, and for other purposes; to the Committee on Homeland Security. By Mr. GREEN of Texas (for himself, Mr. Thompson of Mississippi, Mr. Goldman of New York, Ms. Clarke of New York, Mr. Ivey, and Mr. Thanedar), H2622 [20AP] H.R. 8104 — A bill to amend the Food Security Act of 1985 to improve wildlife habitat connectivity and wildlife migration corridors, and for other purposes; to the Committee on Agriculture. By Mr. VASQUEZ (for himself, Mr. Zinke, and Ms. Leger Fernandez), H2622 [20AP] Cosponsors added, H2702 [29AP] H.R. 8105 — A bill to extend the reporting requirements under the Elie Wiesel Genocide and Atrocities Prevention Act of 2018; to the Committee on Foreign Affairs. By Mrs. WAGNER (for herself and Ms. Jacobs), H2622 [20AP] H.R. 8106 — A bill to amend title XIX of the Social Security Act to increase transparency and expand coverage options with respect to home and community-based services under a Medicaid waiver; to the Committee on Energy and Commerce. By Mrs. RODGERS of Washington (for herself and Mr. Pallone), H2627 [23AP] H.R. 8107 — A bill to amend title XIX of the Social Security Act to remove certain age restrictions on Medicaid eligibility for working adults with disabilities; to the Committee on Energy and Commerce. By Mr. CISCOMANI (for himself and Ms. Perez), H2627 [23AP] Cosponsors added, H3400 [21MY] H.R. 8108 — A bill to amend title XIX of the Social Security Act to add a Medicaid State plan requirement with respect to the determination of residency of certain individuals serving in the Armed Forces; to the Committee on Energy and Commerce. By Mrs. KIGGANS of Virginia (for herself and Ms. Kaptur), H2627 [23AP] Cosponsors added, H3727 [11JN] H.R. 8109 — A bill to amend the Deficit Reduction Act of 2005 to make permanent the Money Follows the Person rebalancing demonstration; to the Committee on Energy and Commerce. By Mrs. DINGELL (for herself and Mr. Balderson), H2627 [23AP] H.R. 8110 — A bill to amend title XIX of the Social Security Act to make permanent the State option to extend protection against spousal impoverishment for recipients of home and community-based services under Medicaid; to the Committee on Energy and Commerce. By Mrs. DINGELL (for herself and Mr. James), H2627 [23AP] H.R. 8111 — A bill to amend title XIX of the Social Security Act to ensure the reliability of address information provided under the Medicaid program; to the Committee on Energy and Commerce. By Mrs. MILLER-MEEKS (for herself and Mr. Cartwright), H2627 [23AP] Cosponsors added, H2939 [7MY] H.R. 8112 — A bill to amend title XIX of the Social Security Act to further require certain additional provider screening under the Medicaid program; to the Committee on Energy and Commerce. By Mr. D’ESPOSITO, H2627 [23AP] H.R. 8113 — A bill to amend title XIX of the Social Security Act to require reporting on certain directed payments under the Medicaid program; to the Committee on Energy and Commerce. By Mr. GRIFFITH, H2627 [23AP] H.R. 8114 — A bill to prohibit the Secretary of Health and Human Services from finalizing a rule proposed by the Centers for Medicare & Medicaid Services to place certain limitations on Medicaid payments for home or community-based services; to the Committee on Energy and Commerce. By Mrs. CAMMACK, H2627 [23AP] Cosponsors added, H2771 [30AP], H2876 [6MY], H3486 [22MY], H3657 [4JN], H3727 [11JN], H4110 [14JN] H.R. 8115 — A bill to amend title XIX of the Social Security Act to allow for the deferral or disallowance of portions of payments for certain managed care violations under Medicaid; to the Committee on Energy and Commerce. By Mr. SARBANES, H2627 [23AP] H.R. 8116 — A bill to amend title 28, United States Code, to limit the use of Federal funds for live tissue training for Department of Justice personnel; to the Committee on the Judiciary. By Ms. DEAN of Pennsylvania (for herself and Mr. Nehls), H2627 [23AP] H.R. 8117 — A bill to assist applicants for community development block grant recovery assistance not having traditionally accepted forms of documentation of ownership of property to prove such ownership, and for other purposes; to the Committee on Financial Services. By Mrs. FLETCHER (for herself, Ms. Williams of Georgia, and Mr. Cleaver), H2627 [23AP] Cosponsors added, H3526 [23MY], H3535 [28MY], H3657 [4JN], H3727 [11JN], H4064 [13JN] H.R. 8118 — A bill to utilize the Advanced Capabilities for Emergency Response to Operations program of NASA to improve aerial responses to wildfires, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. MIKE GARCIA of California (for himself and Ms. McClellan), H2627 [23AP] H.R. 8119 — A bill to establish in U.S. Customs and Border Protection a pilot program to adopt dogs from local animal shelters to be trained as therapy dogs, and for other purposes; to the Committee on Homeland Security. By Mr. TONY GONZALES of Texas (for himself, Mr. Correa, Mr. Cuellar, Mr. Davis of North Carolina, Ms. Malliotakis, Mr. Lawler, Mr. D’Esposito, Mr. Luttrell, Mr. McCaul, Ms. Mace, Ms. Jackson Lee, and Ms. Salazar), H2627 [23AP] Cosponsors added, H2702 [29AP], H2876 [6MY] H.R. 8120 — A bill to amend the Intermodal Surface Transportation Efficiency Act of 1991 to prohibit cordon pricing in the Central Business District Tolling Program for New York City, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. MALLIOTAKIS (for herself and Mr. Gottheimer), H2627 [23AP] Cosponsors added, H2771 [30AP], H3206 [14MY], H3526 [23MY], H3583 [3JN], H3675 [5JN] H.R. 8121 — A bill to amend the Intermodal Surface Transportation Efficiency Act of 1991 to prohibit congestion or cordon pricing in a value pricing program, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. MALLIOTAKIS, H2627 [23AP] H.R. 8122 — A bill to redesignate Rock Creek Park in the District of Columbia as Rock Creek National Park; to the Committee on Natural Resources. By Ms. NORTON, H2627 [23AP] Cosponsors added, H2636 [26AP], H3275 [15MY], H3583 [3JN] H.R. 8123 — A bill to amend the Federal Food, Drug, and Cosmetic Act to establish new prohibited acts relating to dietary supplements; to the Committee on Energy and Commerce. By Mr. PALLONE, H2628 [23AP] Cosponsors added, H3535 [28MY] H.R. 8124 — A bill to expand the imposition of sanctions under the Uyghur Human Rights Policy Act of 2020 with respect to human rights abuses in the Xinjiang Uyghur Autonomous Region of the People’s Republic of China and to counter the genocidal policies of the Government of the People’s Republic of China; to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Financial Services, Ways and Means, Oversight and Accountability, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMITH of New Jersey (for himself and Mr. Suozzi), H2628 [23AP] H.R. 8125 — A bill to designate the area between the intersections of 18th Street Northwest and Church Street Northwest, and 18th Street Northwest and P Street Northwest, in the District of Columbia as ‘‘Jimmy Lai Way’’, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMITH of New Jersey (for himself and Mr. Suozzi), H2628 [23AP] H.R. 8126 — A bill to amend the Financial Literacy and Education Improvement Act to include secondary schools in best practices for teaching financial literacy, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VALADAO (for himself and Mr. Nickel), H2628 [23AP] Cosponsors added, H2939 [7MY] H.R. 8127 — A bill to establish a grant program for States that adopt the Uniform Partition of Heirs Property Act, and for other purposes; to the Committee on Financial Services. By Ms. WILLIAMS of Georgia (for herself, Mrs. Fletcher, Mr. Cleaver, and Mr. Donalds), H2628 [23AP] Cosponsors added, H2836 [2MY], H2876 [6MY], H3400 [21MY], H3531 [24MY] H.R. 8128 — A bill to require health insurance coverage for scalp cooling items; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Education and the Workforce, Armed Services, Veterans’ Affairs, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. DeLAURO, H2634 [26AP] H.R. 8129 — A bill to direct the Secretary of Energy to carry out an initiative to encourage States to enhance the dissemination of nuclear information at certain schools, and for other purposes; to the Committee on Education and the Workforce. By Mr. DONALDS (for himself, Mr. DesJarlais, Mr. Norman, Mr. Williams of New York, and Mr. Nehls), H2634 [26AP] H.R. 8130 — A bill to establish a commission to address the fundamental repercussions of misguided interventions by the United States in multiple sovereign Western Hemisphere nations over the course of the twentieth century, including to study and consider an apology and proposals for the repairment of relations and reconciliation with the peoples of said nations, and for other purposes; to the Committee on Foreign Affairs. By Mr. ESPAILLAT (for himself and Ms. Tlaib), H2634 [26AP] H.R. 8131 — A bill to improve the oversight of inmate accounts, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOODEN of Texas (for himself, Mr. Tiffany, and Mr. Weber of Texas), H2634 [26AP] H.R. 8132 — A bill to amend title 35, United States Code, require a patent owner to consent to the filing of a petition for inter partes review or post-grant review, and for other purposes; to the Committee on the Judiciary. By Ms. KAPTUR (for herself and Mr. Massie), H2634 [26AP] Cosponsors added, H3728 [11JN] H.R. 8133 — A bill to amend title 10, United States Code, to permit the Secretary concerned to furnish mortuary services in the case of certain citizens of the United States who die outside of the United States, and for other purposes; to the Committee on Armed Services. By Mr. KILEY, H2634 [26AP] H.R. 8134 — A bill to promote the leadership of the United States in global innovation by establishing a robust patent system that restores and protects the right of inventors to own and enforce private property rights in inventions and discoveries, and for other purposes; to the Committee on the Judiciary. By Mr. MASSIE (for himself, Ms. Kaptur, Mr. Cloud, Mr. Davidson, Mr. Good of Virginia, Mr. Gosar, Ms. Greene of Georgia, Mr. Higgins of Louisiana, Mr. McClintock, Mr. Mooney, Mr. Norman, Mr. Posey, Mr. Roy, and Mr. Steube), H2634 [26AP] H.R. 8135 — A bill to amend the Internal Revenue Code of 1986 to classify certain automatic fire sprinkler system retrofits as 15-year property for purposes of depreciation; to the Committee on Ways and Means. By Mr. PASCRELL (for himself and Ms. Malliotakis), H2634 [26AP] Cosponsors added, H2771 [30AP] H.R. 8136 — A bill to amend title 38, United States Code, to improve the processes by which a veteran may appeal decisions affecting the provision of benefits under the laws administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. PELTOLA (for herself, Mr. Moylan, and Mr. Gottheimer), H2634 [26AP] H.R. 8137 — A bill to provide for an exception to the restrictions described in the Assisted Suicide Funding Restriction Act of 1997 with respect to certain States; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, the Judiciary, Education and the Workforce, Oversight and Accountability, Natural Resources, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. PETTERSEN (for herself and Mr. Peters), H2634 [26AP] H.R. 8138 — A bill to direct the Secretary of Agriculture to establish a disaster response training program to train certain Farm Service Agency employees to provide outreach and technical assistance to farmers and ranchers affected by a natural disaster, and for other purposes; to the Committee on Agriculture. By Mr. SOTO (for himself and Mr. Scott Franklin of Florida), H2634 [26AP] H.R. 8139 — A bill to amend the FAST Act to permit local governments to enter into cooperative procurement contracts for the purchase of rolling stock and related equipment, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. STAUBER (for himself and Mr. Cohen), H2634 [26AP] H.R. 8140 — A bill to authorize the Attorney General to make grants for the creation and operation of veterans response teams within law enforcement agencies, and for other purposes; to the Committee on the Judiciary. By Mr. STRONG (for himself, Mr. Correa, Ms. Salazar, Mr. Ivey, Mr. Higgins of Louisiana, Mr. Stanton, Mr. Scott Franklin of Florida, Mr. Phillips, Mr. Wenstrup, Mr. Valadao, Mr. Kelly of Pennsylvania, Mr. Miller of Ohio, Mr. LaMalfa, Mr. Casten, Mrs. Lesko, Mr. James, and Mr. Balderson), H2634 [26AP] H.R. 8141 — A bill to provide for a review of sanctions with respect to Azerbaijan; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TITUS (for herself, Mr. Bilirakis, Mr. Pallone, Ms. Norton, Mr. McClintock, Ms. Schakowsky, Mr. Gottheimer, Mrs. Beatty, Mr. Cárdenas, Mr. Valadao, Mr. Horsford, Ms. Malliotakis, Mr. Costa, Mr. Auchincloss, Ms. Meng, Mr. Schiff, Ms. Stevens, Mr. Pappas, Ms. Lee of California, Mr. Lawler, Mr. Sarbanes, Ms. Lee of Nevada, Mr. Amo, Mr. Menendez, and Mr. Sherman), H2635 [26AP] Cosponsors added, H2702 [29AP], H2939 [7MY], H3000 [8MY], H3358 [17MY], H3486 [22MY], H3535 [28MY], H3543 [31MY] H.R. 8142 — A bill to require the Bureau of Consumer Financial Protection to conduct an assessment of the use of certain educational data in determining the creditworthiness of an applicant, and for other purposes; to the Committee on Financial Services. By Mrs. BEATTY, H2699 [29AP] H.R. 8143 — A bill to establish requirements relating to credit scores and educational credit scores, and for other purposes; to the Committee on Financial Services. By Mrs. BEATTY, H2699 [29AP] H.R. 8144 — A bill to amend title III of the Public Health Service Act to include rural emergency hospitals in the definition of a covered entity for purposes of the 340B drug discount program; to the Committee on Energy and Commerce. By Mr. BERGMAN (for himself and Mrs. Dingell), H2699 [29AP] Cosponsors added, H2876 [6MY], H3275 [15MY] H.R. 8145 — A bill to require the Secretary of the Army to convey or lease certain land acquired for the Table Rock Lake project to owners of property located adjacent to such project, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. BURLISON, H2699 [29AP] H.R. 8146 — A bill to require a report by the Attorney General on the impact the border crisis is having on law enforcement at the Federal, State, local, and Tribal level; to the Committee on the Judiciary. By Mr. D’ESPOSITO, H2699 [29AP] Reported with amendment (H. Rept. 118–482), H2873 [6MY] Providing for consideration (H. Res. 1227), H3272 [15MY] Debated, H3297 [16MY] Text, H3302 [16MY] Amendments, H3302, H3304, H3305, H3306, H3307 [16MY] Passed House amended, H3308 [16MY] Message from the House, S3778 [20MY] Referred to the Committee on the Judiciary, S3778 [20MY] H.R. 8147 — A bill to repeal the Corporate Transparency Act; to the Committee on Financial Services. By Mr. DAVIDSON (for himself, Ms. Hageman, Mr. Grothman, Mr. Edwards, Mr. Norman, Mr. Ogles, Mr. Posey, Mr. Hern, Mr. Good of Virginia, Mrs. Fischbach, Mr. Fallon, and Mr. Armstrong), H2699 [29AP] Cosponsors added, H2876 [6MY], H3007 [10MY], H3543 [31MY], H3976 [12JN] H.R. 8148 — A bill to amend title XVIII of the Social Security Act to allow for the furnishing of audio-only telehealth services; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FEENSTRA (for himself and Mr. Nunn of Iowa), H2699 [29AP] H.R. 8149 — A bill to amend the Internal Revenue Code of 1986 to clarify the tax treatment of digital asset rewards; to the Committee on Ways and Means. By Mr. FERGUSON (for himself and Mr. Nickel), H2699 [29AP] H.R. 8150 — A bill to require the Commissioner of U.S. Customs and Border Protection to establish procedures for conducting maintenance projects at ports of entry at which the Office of Field Operations conducts certain enforcement and facilitation activities; to the Committee on Homeland Security, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TONY GONZALES of Texas (for himself, Mr. Correa, Mr. Ciscomani, Mr. Cuellar, Ms. De La Cruz, and Mr. Vicente Gonzalez of Texas), H2699 [29AP] H.R. 8151 — A bill to amend title XVIII of the Social Security Act to expand eligible practitioners to furnish telehealth services; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KELLY of Pennsylvania (for himself, Mr. Thompson of California, and Mr. Smith of Nebraska), H2699 [29AP] H.R. 8152 — A bill to amend the Export Control Reform Act of 2018 to provide for control of remote access of items, and for other purposes; to the Committee on Foreign Affairs. By Mr. LAWLER (for himself, Mr. Jackson of North Carolina, Mr. McCormick, and Ms. Crockett), H2699 [29AP] Cosponsors added, H3275 [15MY] H.R. 8153 — A bill to amend the Wall Street Transparency and Accountability Act of 2010 to provide covered banking institutions with certain exemptions related to interest rate swaps, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOONEY (for himself, Mr. Donalds, and Mr. Ogles), H2699 [29AP] H.R. 8154 — A bill to amend title XVIII of the Social Security Act to extend telehealth services for federally qualified health centers and rural health clinics; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MURPHY (for himself, Mr. Burgess, Mr. Van Orden, and Mr. Nehls), H2699 [29AP] H.R. 8155 — A bill to direct the Secretary of Energy to develop fish and wildlife program funding alternatives to mitigate the cost to Bonneville Power Administration ratepayers, and for other purposes; to the Committee on Natural Resources. By Mr. NEWHOUSE (for himself, Mr. Fulcher, Mr. Zinke, and Mr. Bentz), H2699 [29AP] H.R. 8156 — A bill to direct the Comptroller General of the United States to submit to Congress an updated report on the roles, responsibilities, and practices of the Council on Environmental Quality; to the Committee on Natural Resources. By Mr. NEWHOUSE (for himself, Mrs. Rodgers of Washington, Mr. Fulcher, Mr. Bentz, and Mr. Zinke), H2700 [29AP] H.R. 8157 — A bill to prohibit the Secretary of the Army from carrying out certain spillage operations on the Lower Snake Rivers dams, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. NEWHOUSE (for himself, Mrs. Rodgers of Washington, Mr. Fulcher, and Mr. Bentz), H2700 [29AP] H.R. 8158 — A bill to require the Secretary of the Army to acquire technology that uses acoustic sound to deter pinniped predators at such Dam, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. NEWHOUSE (for himself, Mrs. Rodgers of Washington, Mr. Fulcher, Mr. Bentz, and Mr. Zinke), H2700 [29AP] H.R. 8159 — A bill to prohibit the breaching of federally operated dams if such breach would result in the replacement energy resource occupying additional acreage, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. NEWHOUSE (for himself, Mr. Fulcher, Mr. Zinke, Mr. Rosendale, and Mr. Bentz), H2700 [29AP] H.R. 8160 — A bill to prohibit the breaching of federally operated dams in certain circumstances, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. NEWHOUSE (for himself, Mr. Fulcher, Mr. Zinke, Mr. Rosendale, and Mr. Bentz), H2700 [29AP] H.R. 8161 — A bill to prohibit the Secretary of the Interior and the Secretary of the Army from retiring an energy generation source if that retirement would raise customer electricity rates and decrease regional energy reliability by more than 10 percent, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. NEWHOUSE (for himself, Mr. Fulcher, Mr. Bentz, and Mr. Rosendale), H2700 [29AP] H.R. 8162 — A bill to amend the National Capital Revitalization and Self-Government Improvement Act of 1997 to treat domestic partnerships as marriage for purposes of the program of benefits paid by the Federal government for survivors of a District of Columbia police officer, firefighter, or teacher in the same manner and to the same extent that domestic partnerships are treated as marriage for purposes of such benefits which are paid by the District of Columbia, to conform the age limit after which a surviving spouse of a police officer, firefighter, or teacher may remarry without losing survivor benefits under such program to the age limit established with respect to survivor benefits of Federal employees, and for other purposes; to the Committee on Oversight and Accountability. By Ms. NORTON, H2700 [29AP] H.R. 8163 — A bill to amend title 10, United States Code, to permanently add stainless steel flatware to the list of covered items required to be procured from American sources, and for other purposes; to the Committee on Armed Services. By Ms. TENNEY (for herself and Mr. Williams of New York), H2700 [29AP] H.R. 8164 — A bill to amend the Lacey Act Amendments of 1981 to prohibit certain activities involving prohibited primate species, and for other purposes; to the Committee on Natural Resources. By Mr. BLUMENAUER (for himself, Mr. Fitzpatrick, Mr. Neguse, and Ms. Mace), H2768 [30AP] Cosponsors added, H3000 [8MY], H3275 [15MY], H3400 [21MY], H3486 [22MY], H3583 [3JN], H3675 [5JN], H3728 [11JN], H4064 [13JN] H.R. 8165 — A bill to amend title 38, United States Code, to establish qualifications for the appointment of a person as a marriage and family therapist, qualified to provide clinical supervision, in the Veterans Health Administration; to the Committee on Veterans’ Affairs. By Ms. BROWNLEY, H2768 [30AP] Cosponsors added, H4064 [13JN] H.R. 8166 — A bill to require the Secretary of Defense to issue regulations requiring that optional combat boots worn by members of the armed forces wear be made in America, and for other purposes; to the Committee on Armed Services. By Ms. BUDZINSKI (for herself, Mr. Bost, and Mr. Crawford), H2768 [30AP] H.R. 8167 — A bill to require the Secretary of Defense to award grants to fund research on orthotics and prosthetics; to the Committee on Armed Services. By Mr. CARTWRIGHT (for himself, Mr. Grijalva, Ms. Norton, Mr. Cohen, Mr. Gottheimer, Mr. Moylan, Mr. Ruiz, and Mr. Bilirakis), H2768 [30AP] H.R. 8168 — A bill to require the Secretary of Veterans Affairs to award grants to establish, or expand upon, master’s degree programs in orthotics and prosthetics, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. CARTWRIGHT (for himself, Mr. Grijalva, Ms. Norton, Mr. Cohen, Mr. Gottheimer, Mr. Moylan, Mr. Ruiz, and Mr. Bilirakis), H2768 [30AP] H.R. 8169 — A bill to require the Secretary of Agriculture to prohibit the use of lead ammunition on all lands and waters under the jurisdiction and control of the Forest Service, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. DEAN of Pennsylvania (for herself and Mr. Lieu), H2768 [30AP] H.R. 8170 — A bill to amend title 40, United States Code, to provide for certain exceptions to the mileage limitation for Appalachian development highway system projects; to the Committee on Transportation and Infrastructure. By Mr. EDWARDS (for himself, Mr. Trone, and Mr. Thompson of Pennsylvania), H2768 [30AP] H.R. 8171 — A bill to amend the Lead-Based Paint Poisoning Prevention Act to provide for additional procedures for families with children under the age of 6, and for other purposes; to the Committee on Financial Services. By Mr. GARCÍA of Illinois, H2768 [30AP] H.R. 8172 — A bill to amend the Federal Election Campaign Act of 1971 to require certain online platforms which display political advertisements to display with the advertisement a notice identifying the sponsor of the advertisement and to ensure that the notice will continue to be presented in the advertisement if a viewer of the advertisement shares the advertisement with others on that platform; to the Committee on House Administration. By Mr. GOLDEN of Maine, H2768 [30AP] H.R. 8173 — A bill to amend title 18, United States Code, to prohibit former Members of Congress from engaging in lobbying contacts; to the Committee on the Judiciary. By Mr. GOLDEN of Maine, H2768 [30AP] Cosponsors added, H3000 [8MY] H.R. 8174 — A bill to amend the Foreign Agents Registration Act of 1938 to prohibit certain individuals from service as an agent of a foreign principal, and for other purposes; to the Committee on the Judiciary. By Mr. GOLDEN of Maine, H2768 [30AP] Cosponsors added, H3000 [8MY] H.R. 8175 — A bill to amend the Internal Revenue Code of 1986 to prohibit 501(c)(4) entities from using more than 10 percent of total expenditures on certain political expenditures, and for other purposes; to the Committee on Ways and Means. By Mr. GOLDEN of Maine, H2768 [30AP] H.R. 8176 — A bill to provide for disclosures of certain foreign contributions, and for other purposes; to the Committee on House Administration, and in addition to the Committees on Ways and Means, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOLDEN of Maine, H2768 [30AP] H.R. 8177 — A bill to amend title 5, United States Code, to require senior Government officials and their family members to divest foreign financial interests, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOLDEN of Maine, H2768 [30AP] H.R. 8178 — A bill to amend the Workforce Innovation and Opportunity Act to remove the requirements relating to registered apprenticeships; to the Committee on Education and the Workforce. By Mr. GOOD of Virginia (for himself and Mrs. Miller of Illinois), H2768 [30AP] Cosponsors added, H2939 [7MY] H.R. 8179 — A bill to require the Secretary of Agriculture to carry out research and development with respect to winter oilseed crops, and for other purposes; to the Committee on Agriculture. By Mr. KUSTOFF (for himself, Mr. Mann, and Mr. Strong), H2768 [30AP] Cosponsors added, H3400 [21MY] H.R. 8180 — A bill to amend the Consolidated Appropriations Act, 2022 with respect to a civil action relating to the disclosure of intimate images; to the Committee on the Judiciary. By Ms. MACE, H2768 [30AP] H.R. 8181 — A bill to prohibit the Consumer Product Safety Commission from issuing a rule related to table saws until 5 years after a patent related to the saws has been dedicate to the public or expired, and for other purposes; to the Committee on Energy and Commerce. By Ms. PEREZ (for herself and Mr. Duncan), H2768 [30AP] Cosponsors added, H3007 [10MY] H.R. 8182 — A bill to establish the Ocmulgee Mounds National Park and Preserve in the State of Georgia, and for other purposes; to the Committee on Natural Resources. By Mr. AUSTIN SCOTT of Georgia (for himself, Mr. Bishop of Georgia, Mr. Allen, Mr. Carter of Georgia, Mr. Collins, Mr. Ferguson, Ms. Greene of Georgia, Mr. Loudermilk, Mr. McCormick, Mr. Johnson of Georgia, Mrs. McBath, Mr. David Scott of Georgia, and Ms. Williams of Georgia), H2769 [30AP] Cosponsors added, H2876 [6MY] Removal of cosponsors, H2939 [7MY] H.R. 8183 — A bill to direct the Attorney General to convene a national working group to study proactive strategies and needed resources for the identification and rescue of children from sexual exploitation and abuse, and for other purposes; to the Committee on the Judiciary. By Ms. SPANBERGER (for herself, Mr. Fitzpatrick, and Mr. Owens), H2769 [30AP] H.R. 8184 — A bill to amend the Internal Revenue Code of 1986 to repeal the scheduled reduction in the deduction for foreign-derived intangible income; to the Committee on Ways and Means. By Mrs. STEEL (for herself and Mr. Morelle), H2769 [30AP] Cosponsors added, H2831 [1MY], H2876 [6MY], H3543 [31MY], H4116 [18JN] H.R. 8185 — A bill to amend the Trafficking Victims Protection Act of 2000 to include financial criminal activities associated with the facilitation of severe forms of trafficking in persons within the factors considered as indicia of serious and sustained efforts to eliminate severe forms of trafficking in persons, and for other purposes; to the Committee on Foreign Affairs. By Mr. STEIL (for himself and Ms. Dean of Pennsylvania), H2769 [30AP] Cosponsors added, H2876 [6MY] H.R. 8186 — A bill to require the Secretary of Housing and Urban Development to establish a grant and loan program that provides amounts to eligible entities to use to develop, create, or preserve qualifying affordable dwelling units, and for other purposes; to the Committee on Financial Services. By Ms. STEVENS (for herself, Mrs. González-Colón, and Mr. Torres of New York), H2769 [30AP] H.R. 8187 — A bill to direct the Secretary of Energy to establish and carry out a program to support the development, maintenance, implementation, and adoption of digital identification systems for advanced energy technologies for the purpose of increasing critical material supply chain transparency; to the Committee on Energy and Commerce, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TONKO (for himself and Mr. Graves of Louisiana), H2769 [30AP] H.R. 8188 — A bill to create a civil action for non-consensual sexual protection barrier removal, and for other purposes; to the Committee on the Judiciary. By Mrs. TORRES of California (for herself, Ms. Bonamici, Ms. Norton, Ms. Lee of California, Ms. Tlaib, Ms. Barragán, Mr. Carter of Louisiana, Ms. Meng, and Mr. Trone), H2769 [30AP] H.R. 8189 — A bill to encourage States to voluntarily pass laws to authorize civil damages and equitable relief for nonconsensual sexual protection barrier removal, and for other purposes; to the Committee on the Judiciary. By Mrs. TORRES of California (for herself, Ms. Bonamici, Ms. Norton, Ms. Lee of California, Ms. Tlaib, Ms. Barragán, Mr. Carter of Louisiana, Ms. Meng, and Mr. Trone), H2769 [30AP] H.R. 8190 — A bill to review and consider terminating the designation of the State of Qatar as a major non-NATO ally, and for other purposes; to the Committee on Foreign Affairs. By Mrs. WAGNER (for herself and Mr. Golden of Maine), H2769 [30AP] H.R. 8191 — A bill to prohibit discrimination based on an individual’s texture or style of hair; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. WATSON COLEMAN (for herself, Ms. Schakowsky, Ms. Omar, Ms. Lee of California, Mr. Frost, Ms. Lee of Pennsylvania, Ms. Pressley, Mr. Johnson of Georgia, Ms. Norton, Mr. Veasey, Ms. Brown, Ms. Jacobs, Mr. Cárdenas, Mrs. Beatty, Ms. Williams of Georgia, Mr. Bowman, Mr. Espaillat, Mr. McGarvey, Mr. Mfume, Mr. Jackson of Illinois, Ms. Wilson of Florida, Ms. Kamlager-Dove, Mr. Davis of North Carolina, Mrs. Hayes, Mr. McGovern, Ms. Tlaib, Mr. Goldman of New York, Mr. Doggett, Ms. Kelly of Illinois, Ms. Crockett, Ms. Adams, Mr. Quigley, Mr. Thompson of Mississippi, Ms. Stevens, Mr. Cleaver, Ms. Jackson Lee, Mr. Cohen, Mr. Khanna, Ms. Velázquez, Mr. Tonko, Mr. Allred, Mrs. Ramirez, Ms. Escobar, Mrs. McBath, Mr. Evans, Ms. Strickland, Mr. Smith of Washington, Ms. Underwood, Ms. Bonamici, Mr. Davis of Illinois, Mr. Peters, Mr. Green of Texas, Mr. Horsford, Mr. Trone, Mr. García of Illinois, Mr. Mullin, Mr. Vargas, Mr. Robert Garcia of California, Mr. Landsman, Mr. Schiff, Mr. Pocan, Mr. David Scott of Georgia, Ms. Garcia of Texas, Ms. Clarke of New York, Ms. McClellan, Mrs. Cherfilus-McCormick, Ms. Waters, Ms. Sewell, Mr. Scott of Virginia, Mrs. Foushee, Mr. Carter of Louisiana, Mr. Neguse, Mr. Ivey, Ms. Blunt Rochester, Ms. Plaskett, Mr. Amo, Mr. Carson, Mrs. Sykes, Ms. Bush, Mr. Takano, Mr. Jeffries, Mr. Bishop of Georgia, Mr. Torres of New York, Mr. Clyburn, and Mr. Meeks), H2769 [30AP] Cosponsors added, H2939 [7MY] H.R. 8192 — A bill to amend the National Voter Registration Act of 1993 to require States to designate public high schools as voter registration agencies, to direct such schools to conduct voter registration drives for students attending such schools, to direct the Secretary of Education to make grants to reimburse such schools for the costs of conducting such voter registration drives, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. WILSON of Florida (for herself, Mr. Blumenauer, Ms. Brown, Mr. Bowman, Mr. Clyburn, Mrs. Watson Coleman, Mr. Frost, Mr. Grijalva, Ms. Norton, Ms. Jayapal, Ms. Kamlager-Dove, Ms. Omar, Ms. Pressley, Mr. Raskin, Ms. Sewell, and Mr. Soto), H2769 [30AP] Cosponsors added, H2939 [7MY], H3535 [28MY] H.R. 8193 — A bill to prohibit and restrict certain actions in the Bristol Bay watershed, and for other purposes; to the Committee on Transportation and Infrastructure. By Mrs. PELTOLA, H2827 [1MY] Cosponsors added, H3486 [22MY] H.R. 8194 — A bill to amend the Internal Revenue Code of 1986 to exclude compensation from secondary employment for certain taxpayers from the income tax and payroll taxes; to the Committee on Ways and Means. By Mr. BACON, H2827 [1MY] H.R. 8195 — A bill to strengthen congressional oversight of the Administrative Pay-As-You-Go Act of 2023, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BERGMAN (for himself, Mr. Arrington, Mr. Carter of Georgia, Mr. Grothman, Mr. Yakym, Mrs. McClain, Mr. Cline, Mr. Ferguson, Mr. Estes, Mr. Moore of Utah, Mrs. Fischbach, Mr. Smucker, Mr. Norman, Mr. Edwards, Mr. Burgess, Mr. Valadao, Mr. Brecheen, Mr. Good of Virginia, Mr. Roy, and Mr. McClintock), H2827 [1MY] Cosponsors added, H3000 [8MY], H3007 [10MY], H3206 [14MY], H3275 [15MY], H3535 [28MY], H3682 [7JN], H3728 [11JN] H.R. 8196 — A bill to amend the Fair Debt Collection Practices Act to safeguard access to information for consumers and to stop abusive debt litigation, and for other purposes; to the Committee on Financial Services. By Ms. BONAMICI (for herself, Mr. Foster, Mr. Cohen, Ms. Chu, Mr. McGovern, and Ms. Norton), H2827 [1MY] Cosponsors added, H2876 [6MY] H.R. 8197 — A bill to amend the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991 to impose sanctions on foreign countries in response to acts concerning chemical or biological programs that cause injury to other foreign countries, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BANKS, H2827 [1MY] H.R. 8198 — A bill to reauthorize and improve the relending program to resolve ownership and succession on farmland, and for other purposes; to the Committee on Agriculture. By Mr. BISHOP of Georgia (for himself and Mr. Davis of North Carolina), H2828 [1MY] Cosponsors added, H2876 [6MY], H3583 [3JN] H.R. 8199 — A bill to amend the Food and Nutrition Act of 2008 to simplify supplemental nutrition assistance program access for elderly and disabled individuals; to the Committee on Agriculture. By Ms. CARAVEO (for herself, Ms. Wilson of Florida, Ms. Pettersen, Ms. Brown, Mr. Carson, Ms. Norton, Mr. McGovern, Mr. Johnson of Georgia, Mr. Goldman of New York, Ms. Jackson Lee, Ms. Salinas, Ms. Tlaib, Mrs. Dingell, Mr. Thanedar, Ms. Adams, Mr. Espaillat, Mr. Allred, and Ms. Kelly of Illinois), H2828 [1MY] H.R. 8200 — A bill to amend title III of the Public Health Service Act to direct the Secretary of Health and Human Services, acting through the Administrator of the Health Resources and Services Administration, to award grants to eligible entities to carry out construction or modernization projects designed to strengthen and increase capacity within the specialized pediatric health care infrastructure, and for other purposes; to the Committee on Energy and Commerce. By Mr. CÁRDENAS (for himself, Mr. Trone, Ms. Strickland, Ms. Barragán, Ms. Chu, Ms. Lee of California, and Mr. Morelle), H2828 [1MY] H.R. 8201 — A bill to amend the Internal Revenue Code of 1986 to lower the corporate tax rate for small businesses and close the carried interest loophole, and for other purposes; to the Committee on Ways and Means. By Ms. CRAIG, H2828 [1MY] H.R. 8202 — A bill to amend title 38, United States Code, to provide for a presumption of service-connection under the laws administered by the Secretary of Veterans Affairs for certain diseases associated with the COVID-19 vaccine that become manifest during the one-year period following the receipt of the vaccine, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DAVIDSON (for himself, Mr. Griffith, Mr. Crane, Mr. Weber of Texas, Mr. Bishop of North Carolina, Mr. Moore of Alabama, Mr. Posey, Mr. Nehls, Mr. Massie, Mrs. Harshbarger, Mr. Biggs, Ms. Greene of Georgia, Mr. Rosendale, Mr. Steube, Mr. Mast, Mr. Burlison, Mrs. Miller of Illinois, Mr. Dunn of Florida, Ms. Boebert, Mr. Carey, Mr. Fallon, Mrs. Luna, and Mr. Gosar), H2828 [1MY] Cosponsors added, H2876 [6MY], H3275 [15MY] H.R. 8203 — A bill to prevent and address intentional misuse of subrecipient TANF funds; to the Committee on Ways and Means. By Mr. DAVIS of Illinois (for himself, Ms. Chu, Ms. Moore of Wisconsin, Mr. Evans, Mr. Gomez, and Mr. Thompson of Mississippi), H2828 [1MY] H.R. 8204 — A bill to amend titles 5 and 31, United States Code, to require regulatory early notice by agencies, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DAVIS of North Carolina (for himself, Mr. Burchett, and Mr. Reschenthaler), H2828 [1MY] Cosponsors added, H3657 [4JN], H3976 [12JN] H.R. 8205 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to provide that Byrne grant funds may be used for public safety report systems, and for other purposes; to the Committee on the Judiciary. By Mr. FITZGERALD (for himself, Mr. Nehls, Mr. Steil, Mr. Tiffany, and Mr. Higgins of Louisiana), H2828 [1MY] H.R. 8206 — A bill to ensure that Big Cypress National Preserve may not be designated as wilderness or as a component of the National Wilderness Preservation System, and for other purposes; to the Committee on Natural Resources. By Mr. SCOTT FRANKLIN of Florida (for himself, Mr. Diaz-Balart, Mr. Donalds, Mr. Rutherford, Mr. Gimenez, Mr. Moskowitz, Mr. Steube, Mr. Webster of Florida, Mr. Waltz, Mr. Barr, and Mr. Mills), H2828 [1MY] Cosponsors added, H3400 [21MY], H3728 [11JN] H.R. 8207 — A bill to provide for the establishment of Medicare part E public health plans, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOMEZ (for himself, Mr. Beyer, Ms. Norton, and Mr. Huffman), H2828 [1MY] H.R. 8208 — A bill to prohibit the use of Federal funds to finalize, implement, or enforce the interim final rule of the Bureau of Industry and Security relating to enhancing the control structure for firearms and related items and advancing human rights issued on April 26, 2024 (89 Fed. Reg. 34680); to the Committee on Foreign Affairs. By Mr. GREEN of Tennessee (for himself, Mr. Ogles, Mrs. Harshbarger, Mr. Duncan, Mr. Bishop of North Carolina, Mr. Cline, Mr. Higgins of Louisiana, Mr. Weber of Texas, Ms. Boebert, Mr. Clyde, Mr. Bean of Florida, and Mr. Babin), H2828 [1MY] Cosponsors added, H2876 [6MY], H3007 [10MY], H3331 [16MY], H3358 [17MY], H3486 [22MY], H3682 [7JN] H.R. 8209 — A bill to direct the Secretary of Homeland Security to notify Members of Congress and United States Governors each time a migrant flight lands in such official’s area of jurisdiction; to the Committee on Agriculture. By Mr. HUIZENGA, H2828 [1MY] Cosponsors added, H3331 [16MY], H3358 [17MY] H.R. 8210 — A bill to amend the Consolidated Farm and Rural Development Act to eliminate a requirement that certain individuals be related by blood or marriage to be eligible for farm loans as a qualified beginning farmer or rancher, and for other purposes; to the Committee on the Judiciary. By Ms. LEE of Pennsylvania, H2828 [1MY] H.R. 8211 — A bill to amend title 18, United States Code, to prohibit former employees of covered health agencies from serving on the board of entities involved in development and research of a drug, biological product, or device and from profiting from a drug, biological product, or device, and for other purposes; to the Committee on the Judiciary. By Mrs. LESKO (for herself, Mr. Biggs, Mr. Steube, Mrs. Harshbarger, Mr. LaMalfa, Mr. Wilson of South Carolina, and Mr. Bishop of North Carolina), H2828 [1MY] Cosponsors added, H2939 [7MY], H3486 [22MY] H.R. 8212 — A bill to provide for nonapplicability of a policy of denial for exports, re-exports, or transfers of defense articles and defense services destined for or originating in the Republic of Cyprus; to the Committee on Foreign Affairs. By Mr. PAPPAS (for himself, Mr. Bilirakis, Ms. Titus, and Ms. Malliotakis), H2828 [1MY] Cosponsors added, H3000 [8MY], H3206 [14MY], H3331 [16MY], H3486 [22MY] H.R. 8213 — A bill to amend title 23, United States Code, to provide for a national standard to prevent driving while intoxicated by requiring ignition interlocks for DWI offenders; to the Committee on Transportation and Infrastructure. By Mr. PAPPAS (for himself and Mr. Mann), H2828 [1MY] Cosponsors added, H3358 [17MY] H.R. 8214 — A bill to ratify and approve all authorizations, permits, verifications, extensions, biological opinions, incidental take statements, and any other approvals or orders issued pursuant to Federal law necessary for the establishment and administration of the Coastal Plain oil and gas leasing program, and for other purposes; to the Committee on Natural Resources. By Mrs. PELTOLA, H2828 [1MY] H.R. 8215 — A bill to exempt certain vessels transporting liquefied natural gas from certain coastwise endorsement requirements, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. PERRY (for himself, Mr. Norman, and Mr. Roy), H2828 [1MY] Cosponsors added, H2939 [7MY] H.R. 8216 — A bill to amend title 49, United States Code, to authorize appropriations for the Federal Aviation Administration for fiscal years 2024 through 2028, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. RUIZ, H2828 [1MY] H.R. 8217 — A bill to amend part B of title XVIII of the Social Security Act to provide for a special enrollment period under Medicare for individuals enrolled in COBRA continuation coverage, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMUCKER (for himself, Mr. Bilirakis, Mr. Walberg, Ms. Craig, Mr. Thompson of California, and Ms. Wild), H2828 [1MY] Cosponsors added, H2876 [6MY], H3583 [3JN] H.R. 8218 — A bill to amend the District of Columbia Home Rule Act to require any individual who votes in a municipal election of the District of Columbia to be a United States citizen and to provide proof of citizenship; to the Committee on Oversight and Accountability. By Mr. TIMMONS (for himself, Mr. Pfluger, Ms. Hageman, and Mr. Fry), H2828 [1MY] Cosponsors added, H2836 [2MY] H.R. 8219 — A bill to require the Secretary of the Interior to conduct a study to assess the suitability and feasibility of designating certain land as the Lahaina National Heritage Area, and for other purposes; to the Committee on Natural Resources. By Ms. TOKUDA (for herself, Mr. LaMalfa, Mr. Neguse, Mr. Takano, Mr. Case, Mr. Huffman, and Mr. Sablan), H2828 [1MY] Cosponsors added, H2836 [2MY] H.R. 8220 — A bill to clarify coverage of occupational therapy under the Medicare program; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TRONE (for himself and Mr. Nunn of Iowa), H2828 [1MY] H.R. 8221 — A bill to amend the Immigration and Nationality Act with respect the removability of aliens who are charged with any crime related to their participation in pro-terrorism or antisemitism rallies or demonstrations; to the Committee on the Judiciary. By Ms. VAN DUYNE, H2828 [1MY] Cosponsors added, H2836 [2MY], H2939 [7MY], H3400 [21MY], H3728 [11JN] H.R. 8222 — A bill to amend the Securities Act of 1933 to automatically approve offering statements filed with the Securities and Exchange Commission in connection with certain securities issued under Regulation A tier 2, and for other purposes; to the Committee on Financial Services. By Mr. BARR, H2834 [2MY] Cosponsors added, H3007 [10MY] H.R. 8223 — A bill to improve menopause care and mid-life women’s health, and for other purposes; to the Committee on Energy and Commerce. By Ms. BLUNT ROCHESTER (for herself and Ms. Clarke of New York), H2834 [2MY] H.R. 8224 — A bill to establish Federal research award reimbursement limits for indirect costs for institutions of higher education, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CLINE (for himself, Mr. Harris, Mr. D’Esposito, and Mr. Self), H2834 [2MY] Cosponsors added, H3000 [8MY], H3486 [22MY] H.R. 8225 — A bill to require income from the first year of an apprenticeship to be disregarded in determining eligibility for assistance under the program of block grants to States for temporary assistance for needy families; to the Committee on Ways and Means. By Ms. DelBENE (for herself and Ms. Sánchez), H2834 [2MY] Cosponsors added, H2876 [6MY] H.R. 8226 — A bill to require the Comptroller General of the United States to carry out a study regarding major rules issued by the Securities and Exchange Commission; to the Committee on Financial Services. By Mr. GARBARINO, H2834 [2MY] H.R. 8227 — A bill to amend title XVIII of the Social Security Act to remove in-person requirements under Medicare for mental health services furnished through telehealth and telecommunications technology; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HERN (for himself, Ms. Lee of Nevada, Ms. Malliotakis, and Mr. Fitzpatrick), H2834 [2MY] H.R. 8228 — A bill to amend the Sarbanes-Oxley Act of 2002 to transfer the Public Company Accounting Oversight Board to the Securities and Exchange Commission, and for other purposes; to the Committee on Financial Services. By Mr. HUIZENGA, H2834 [2MY] H.R. 8229 — A bill to amend the Agricultural Act of 2014 to establish additional payments for unborn livestock under the livestock indemnity payment program; to the Committee on Agriculture. By Mr. JACKSON of Texas, H2834 [2MY] H.R. 8230 — A bill to streamline the permitting process for communications infrastructure on National Forest System lands; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. JOHNSON of South Dakota (for himself and Mr. Bacon), H2834 [2MY] H.R. 8231 — A bill to award a congressional gold medal to James Earl Jones, an American icon, in recognition of a remarkable life in reshaping perceptions, dismantling racial barriers, and advocating for equal opportunities for people of all backgrounds in film and theatre; to the Committee on Financial Services. By Mr. LAWLER (for himself, Mr. Torres of New York, and Mr. Molinaro), H2834 [2MY] Cosponsors added, H3007 [10MY], H4116 [18JN] H.R. 8232 — A bill to authorize the Secretary of State to withdraw from the United Nations Relief and Works Agency for Palestine Refugees in the Near East Federal funds previously made available to such organization; to the Committee on Foreign Affairs. By Mr. MAST (for himself, Mr. Gottheimer, Mr. Smith of New Jersey, Mr. Wilson of South Carolina, and Mr. Baird), H2834 [2MY] H.R. 8233 — A bill to amend the USAID Branding Modernization Act to require the sole use of United States flags and logos on articles of United States foreign assistance, and for other purposes; to the Committee on Foreign Affairs. By Mr. MAST (for himself, Ms. Salazar, Mr. Baird, and Mr. Lawler), H2834 [2MY] H.R. 8234 — A bill to authorize the Secretary of State to designate additional persons eligible to serve as passport acceptance agents, and for other purposes; to the Committee on Foreign Affairs. By Mr. MAST (for himself, Mr. Wilson of South Carolina, and Ms. Salazar), H2834 [2MY] Cosponsors added, H3275 [15MY] H.R. 8235 — A bill to amend title XVIII of the Social Security Act to modify the distribution of certain additional graduate medical education positions under the Medicare program; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MURPHY, H2834 [2MY] H.R. 8236 — A bill to direct the Secretary of Education to award grants to State educational agencies to facilitate the provision of pre-kindergarten programs that reduce the cost of education services and result in positive educational outcomes, and for other purposes; to the Committee on Education and the Workforce. By Mr. NUNN of Iowa (for himself, Ms. Perez, and Mrs. Hinson), H2834 [2MY] H.R. 8237 — A bill to require a report relating to the provision of certain information in connection with the Russian invasion of Ukraine and the resulting conflict, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Armed Services, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SHERRILL (for herself, Mr. Himes, Mr. Krishnamoorthi, Mr. Quigley, and Ms. Tokuda), H2835 [2MY] H.R. 8238 — A bill to require the Secretary of Defense to appropriately consider Taiwan for enhanced defense industrial base cooperation activities; to the Committee on Foreign Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. STEEL (for herself and Mr. Horsford), H2835 [2MY] Cosponsors added, H2876 [6MY], H2939 [7MY], H3000 [8MY], H3206 [14MY], H3657 [4JN] H.R. 8239 — A bill to improve the consideration by the Securities and Exchange Commission of the costs and benefits of regulations and orders of the Commission; to the Committee on Financial Services. By Mrs. WAGNER (for herself, Mr. Garbarino, Mr. Nunn of Iowa, Mr. Meuser, Mr. Huizenga, and Mr. Emmer), H2835 [2MY] Cosponsors added, H3007 [10MY] H.R. 8240 — A bill to require a GAO audit of the information technology infrastructure of the Securities and Exchange Commission and the Commission’s handling of data; to the Committee on Financial Services. By Mrs. WAGNER (for herself, Mr. Garbarino, Mr. Meuser, Mr. Huizenga, and Mr. Emmer), H2835 [2MY] Cosponsors added, H2939 [7MY] H.R. 8241 — A bill to amend the Securities Exchange Act of 1934 to require the Chairman of the Securities and Exchange Commission to semiannually testify before Congress with regard to the activities of the Commission; to the Committee on Financial Services. By Mrs. WAGNER (for herself, Mr. Garbarino, Mr. Meuser, Mr. Huizenga, and Mr. Emmer), H2835 [2MY] Cosponsors added, H2939 [7MY] H.R. 8242 — A bill to establish that an individual who is convicted of any offense under any Federal or State law related to the individual’s conduct at and during the course of a protest that occurs at an institution of higher education shall be ineligible for forgiveness, cancellation, waiver, or modification of certain Federal student loans; to the Committee on Education and the Workforce, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WILLIAMS of New York, H2835 [2MY] Cosponsors added, H3275 [15MY] H.R. 8243 — A bill to establish that a State-based education loan program is excluded from certain requirements relating to a preferred lender arrangement; to the Committee on Education and the Workforce. By Mr. SESSIONS, H2873 [6MY] H.R. 8244 — A bill to amend titles XVIII and XIX of the Social Security Act ensure appropriate approval for certain skilled nursing facility and nursing facility nursing aide training and competency evaluation programs under the Medicare and Medicaid program; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ESTES (for himself and Mr. Connolly), H2873 [6MY] Cosponsors added, H3000 [8MY] H.R. 8245 — A bill to amend title XVIII of the Social Security Act to establish the Rural Hospital Stabilization Pilot Program to provide grants to rural hospitals for purposes of ensuring local access to services; to the Committee on Ways and Means. By Mr. FEENSTRA, H2873 [6MY] H.R. 8246 — A bill to amend title XVIII of the Social Security Act to modify the criteria for designation of rural emergency hospitals; to the Committee on Ways and Means. By Mr. ARRINGTON, H2873 [6MY] H.R. 8247 — A bill to authorize the Secretary of Health and Human Services to award grants to increase early detection of and intervention for uterine fibroids, and for other purposes; to the Committee on Energy and Commerce. By Ms. BROWN (for herself, Ms. Clarke of New York, Mrs. Cherfilus-McCormick, Ms. Lois Frankel of Florida, Mrs. Beatty, Mr. Jackson of Illinois, Ms. Norton, Ms. Jackson Lee, Ms. Kamlager-Dove, Ms. Kelly of Illinois, Mrs. Hayes, Mrs. Trahan, Mr. Lieu, Mr. Frost, Ms. Stevens, Mrs. Watson Coleman, Mrs. Ramirez, Ms. Moore of Wisconsin, Ms. Strickland, Ms. Jacobs, Mr. Veasey, Ms. Williams of Georgia, Mr. Grijalva, Ms. Jayapal, Ms. Plaskett, Ms. Pressley, Ms. Sewell, Mr. Johnson of Georgia, Mr. Casar, Mrs. Foushee, Ms. Blunt Rochester, Mr. Carson, and Ms. Budzinski), H2873 [6MY] Cosponsors added, H2939 [7MY], H3206 [14MY], H3331 [16MY], H3486 [22MY], H4116 [18JN] H.R. 8248 — A bill to amend title 18, United States Code, to provide penalty enhancements for committing certain offenses while in disguise, and for other purposes; to the Committee on the Judiciary. By Mr. BURCHETT, H2874 [6MY] H.R. 8249 — A bill to strengthen the African Continental Free Trade Area, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. CHERFILUS-McCORMICK (for herself and Mr. Jackson of Illinois), H2874 [6MY] Cosponsors added, H3526 [23MY] H.R. 8250 — A bill to direct the Administrator of the Environmental Protection Agency to implement the recommendations described in a GAO report relating to replacing legacy air quality data systems, and for other purposes; to the Committee on Energy and Commerce. By Mr. CONNOLLY, H2874 [6MY] H.R. 8251 — A bill to direct the Secretary of Health and Human Services to streamline regulatory oversight of human cell and tissue products, and for other purposes; to the Committee on Energy and Commerce. By Mr. CRENSHAW (for himself and Ms. Barragán), H2874 [6MY] H.R. 8252 — A bill to amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. GARCIA of Texas, H2874 [6MY] H.R. 8253 — A bill to establish a green transportation infrastructure grant program, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. ROBERT GARCIA of California (for himself, Ms. Ocasio-Cortez, Mr. Huffman, Mr. Nadler, Ms. Norton, Mr. Vargas, Ms. Barragán, Mr. Espaillat, Ms. Moore of Wisconsin, Ms. Schakowsky, Ms. Tlaib, Ms. Bush, Mr. Boyle of Pennsylvania, Ms. Pingree, Ms. McCollum, Mr. Bowman, Mr. Pocan, Ms. Lee of Pennsylvania, Mr. Mullin, Mr. García of Illinois, Ms. Velázquez, Mr. Khanna, Ms. Jayapal, Mr. Gomez, Ms. Omar, Mr. Cohen, and Mrs. Ramirez), H2874 [6MY] Cosponsors added, H2939 [7MY], H3000 [8MY], H3007 [10MY], H3206 [14MY] H.R. 8254 — A bill to direct the Director of the United States Holocaust Memorial Museum to develop a curriculum for the study of modern-day antisemitism surrounding Hamas’ October 7, 2023, terrorist attacks against Israel for use in secondary schools, and for other purposes; to the Committee on Education and the Workforce. By Mr. GOTTHEIMER (for himself and Mrs. Steel), H2874 [6MY] Cosponsors added, H3206 [14MY] H.R. 8255 — A bill to establish a minimum public comment period with respect to proposed rules issued by the Securities and Exchange Commission; to the Committee on Financial Services. By Mr. LUCAS, H2874 [6MY] H.R. 8256 — A bill to direct the Administrator of the Federal Emergency Management Agency to establish the Border Security and Enforcement Block Grant Program; to the Committee on Homeland Security, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. McCAUL, H2874 [6MY] H.R. 8257 — A bill to prohibit the Secretary of the Army from implementing a withdrawn rule relating to restricted access to the Washington Channel in Washington, DC, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. NORTON, H2874 [6MY] H.R. 8258 — A bill to redesignate the Cottonwood Visitor Center at Joshua Tree National Park as the ‘‘Senator Dianne Feinstein Visitor Center’’; to the Committee on Natural Resources. By Mr. RUIZ, H2874 [6MY] H.R. 8259 — A bill to amend the California Desert Protection Act of 1994 to expand the boundary of Joshua Tree National Park; to the Committee on Natural Resources. By Mr. RUIZ, H2874 [6MY] H.R. 8260 — A bill to amend title XVIII of the Social Security Act to extend acute hospital care at home waiver flexibilities; to the Committee on Ways and Means. By Mr. WENSTRUP (for himself and Mr. Blumenauer), H2874 [6MY] Cosponsors added, H3728 [11JN] H.R. 8261 — A bill to amend title XVIII of the Social Security Act to extend certain flexibilities and payment adjustments under the Medicare program, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCHWEIKERT (for himself and Mr. Thompson of California), H2935 [7MY] H.R. 8262 — A bill to provide for greater cooperation and coordination between the Federal Government and the governing bodies and community users of land grant-mercedes in New Mexico relating to historical or traditional uses of certain land grant-mercedes on Federal public land, and for other purposes; to the Committee on Natural Resources. By Ms. LEGER FERNANDEZ (for herself and Ms. Stansbury), H2935 [7MY] H.R. 8263 — A bill to amend the Reclamation Project Act of 1939 to encourage non-Federal hydropower development with respect to Bureau of Reclamation projects; to the Committee on Natural Resources. By Ms. BOEBERT, H2935 [7MY] H.R. 8264 — A bill to amend the Federal Deposit Insurance Act and the Federal Credit Union Act to improve the timeliness of examination reports and other guidance and to establish panels to oversee appeals from insured depository institutions and insured credit unions of material supervisory determinations, and for other purposes; to the Committee on Financial Services. By Mr. BARR, H2935 [7MY] Cosponsors added, H3206 [14MY] H.R. 8265 — A bill to amend the Social Security Act to require a 120-day period between notice of an overpayment of benefits under titles II and XVI and beginning recovery of such overpayment, and to require the Commissioner of Social Security to submit a report to Congress on a strategy related to recovery of such overpayments; to the Committee on Ways and Means. By Ms. CARAVEO (for herself and Mr. Allred), H2935 [7MY] Cosponsors added, H3976 [12JN] H.R. 8266 — A bill to place a 2-year moratorium on financial institutions handling, using, or transacting with funds routed through digital asset mixers and to require the Secretary of the Treasury to carry out a study of digital asset mixers, and for other purposes; to the Committee on Financial Services. By Mr. CASTEN (for himself, Mr. Foster, Mr. Sherman, and Mr. Cleaver), H2935 [7MY] Cosponsors added, H3486 [22MY] H.R. 8267 — A bill to amend titles XVIII and XIX of the Social Security Act to provide that priority research drugs shall not be treated as line extensions of existing drugs for purposes of calculating manufacturer rebates under the Medicare and Medicaid programs, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DAVIS of North Carolina (for himself and Mr. Pfluger), H2935 [7MY] H.R. 8268 — A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to inverted corporations; to the Committee on Ways and Means. By Mr. DOGGETT (for himself, Mr. Khanna, Ms. Norton, Ms. Schakowsky, Mr. Grijalva, and Mr. Pocan), H2936 [7MY] Cosponsors added, H3486 [22MY] H.R. 8269 — A bill to amend the Elementary and Secondary Education Act of 1965 to require local educational agencies to allow recruiters to access the secondary schools served by the local educational agency for recruiting activities, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FALLON (for himself and Mr. Waltz), H2936 [7MY] H.R. 8270 — A bill to amend the Food Security Act of 1985 to modernize the conservation reserve program, and for other purposes; to the Committee on Agriculture. By Mr. FINSTAD, H2936 [7MY] H.R. 8271 — A bill to appropriate funds for the Office for Civil Rights of the Department of Education; to the Committee on Appropriations. By Mr. GOLDMAN of New York (for himself, Ms. Meng, Mr. Nadler, Mr. Auchincloss, Mr. Raskin, Ms. Manning, Ms. Williams of Georgia, Mr. Carson, and Ms. Norton), H2936 [7MY] Cosponsors added, H3206 [14MY], H3331 [16MY], H3486 [22MY], H3657 [4JN] H.R. 8272 — A bill to prohibit the Secretary of Transportation from conditioning the receipt of Federal financial assistance on reducing the dimensions of a runway, an apron, or a taxiway of certain airports, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. HUIZENGA, H2936 [7MY] H.R. 8273 — A bill to amend the Higher Education Act of 1965 to improve the financial aid process for homeless and foster care youth; to the Committee on Education and the Workforce. By Ms. KAMLAGER-DOVE (for herself and Mrs. Houchin), H2936 [7MY] Cosponsors added, H3275 [15MY] H.R. 8274 — A bill to amend the Internal Revenue Code of 1986 to encourage the transfer of intangible property from controlled foreign corporations to United States shareholders; to the Committee on Ways and Means. By Mr. LaHOOD (for himself, Mr. Ferguson, Mr. Smith of Nebraska, Mrs. Miller of West Virginia, Ms. Tenney, and Mr. Feenstra), H2936 [7MY] H.R. 8275 — A bill to require the Secretary of Homeland Security to establish a public blockchain-based system to securely store and share data related to border security, and for other purposes; to the Committee on Homeland Security. By Ms. MACE (for herself and Mr. Donalds), H2936 [7MY] H.R. 8276 — A bill to make data and internal guidance on excess personal property publicly available, and for other purposes; to the Committee on Oversight and Accountability. By Mrs. McCLAIN (for herself and Ms. Porter), H2936 [7MY] H.R. 8277 — A bill to direct the Secretary of Agriculture to conduct a study on the effects of solar panel installations on covered farmland, and for other purposes; to the Committee on Agriculture. By Mrs. MILLER of Illinois, H2936 [7MY] H.R. 8278 — A bill to amend title XVIII of the Social Security Act to extend certain telehealth flexibilities with respect to hospice care under the Medicare program, and to establish a modifier for recertifications of hospice care eligibility conducted through telehealth; to the Committee on Ways and Means. By Mrs. MILLER of West Virginia, H2936 [7MY] H.R. 8279 — A bill to amend the Internal Revenue Code of 1986 to clarify that gain or loss on the sale or exchange of certain coins or bullion is exempt from recognition; to the Committee on Ways and Means. By Mr. MOONEY (for himself, Mr. Perry, and Mr. Weber of Texas), H2936 [7MY] H.R. 8280 — A bill to direct the Secretary of Education to award grants to local educational agencies to enhance school and community safety, and for other purposes; to the Committee on Education and the Workforce. By Mr. NUNN of Iowa (for himself and Mr. Sorensen), H2936 [7MY] H.R. 8281 — A bill to amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes; to the Committee on House Administration. By Mr. ROY (for himself, Mr. Garbarino, Mr. Scalise, Mr. Emmer, Ms. Stefanik, Ms. Tenney, Mrs. Harshbarger, Mr. Donalds, Mrs. Miller of Illinois, Mr. Reschenthaler, Mr. Higgins of Louisiana, Mr. Graves of Louisiana, Mr. McClintock, Mr. Lawler, Ms. Boebert, Mr. Banks, Mr. Moore of Alabama, Mr. McCaul, Mr. Arrington, Mr. Williams of New York, Mr. Langworthy, Mr. Ellzey, Mr. Guest, Mr. Hern, Mrs. Houchin, Mr. Mike Garcia of California, Mr. Williams of Texas, Mr. Biggs, Mr. Palmer, Mr. Feenstra, Mr. Nehls, Mr. Babin, Mr. Self, Mr. Fallon, Mr. Cloud, Mr. Crenshaw, Mr. Hunt, Mr. Weber of Texas, Mr. Jordan, Mr. Austin Scott of Georgia, Mr. McCormick, Mr. Clyde, Mr. Brecheen, Mr. Bishop of North Carolina, Mr. Bost, Mrs. Fischbach, and Mr. Pfluger), H2936 [7MY] Cosponsors added, H3007 [10MY], H3206 [14MY], H3358 [17MY], H3486 [22MY], H3526 [23MY], H3535 [28MY], H3543 [31MY], H3583 [3JN], H3657 [4JN], H3682 [7JN], H3728 [11JN], H3976 [12JN], H4064 [13JN] Reported with amendment (H. Rept. 118–552), H4108 [14JN] H.R. 8282 — A bill to impose sanctions with respect to the International Criminal Court engaged in any effort to investigate, arrest, detain, or prosecute any protected person of the United States and its allies; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ROY (for himself, Mr. Mast, Mr. Weber of Texas, Ms. Stefanik, Mr. Crenshaw, Mr. D’Esposito, Mr. Good of Virginia, Ms. Tenney, Mr. Banks, Mr. Brecheen, Mr. Hern, Mr. Lawler, Mr. Barr, Mr. Self, Mr. Waltz, Mr. Donalds, Mr. McCormick, Mr. Green of Tennessee, Mr. Reschenthaler, Mr. Cloud, and Mr. Burchett), H2936 [7MY] Cosponsors added, H3000 [8MY], H3400 [21MY], H3486 [22MY], H3526 [23MY], H3583 [3JN], H3657 [4JN] Providing for consideration (H. Res. 1269), H3581 [3JN] Debated, H3596 [4JN] Text, H3596 [4JN] Passed House amended, H3637 [4JN] Message from the House, S3986 [5JN] H.R. 8283 — A bill to amend title XI of the Social Security Act to provide for a demonstration project to support automatic claim submissions under Medicare, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCHWEIKERT, H2936 [7MY] Cosponsors added, H4064 [13JN] H.R. 8284 — A bill to amend title XI of the Social Security Act to exclude providers of certain abortion services from participation in the Medicare program; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. STEUBE (for himself, Mr. Duncan, Mrs. Lesko, Mr. Crenshaw, and Mr. Davidson), H2936 [7MY] H.R. 8285 — A bill to direct the Secretary of Housing and Urban Development to award grants to provide financial assistance to certain educators to make down payments on certain homes, and for other purposes; to the Committee on Financial Services. By Mr. SWALWELL (for himself, Mrs. Hayes, Mr. Carson, Ms. Norton, Mr. Soto, Ms. Strickland, Ms. Tokuda, and Ms. Williams of Georgia), H2936 [7MY] H.R. 8286 — A bill to prohibit Federal funding for National Public Radio and to provide for the transfer of certain Federal funds that would have been made available to National Public Radio to reduce the public debt, and for other purposes; to the Committee on Energy and Commerce. By Ms. TENNEY, H2936 [7MY] H.R. 8287 — A bill to require the Board of Governors of the Federal Reserve System to issue a rule relating to stress capital buffer requirements, and for other purposes; to the Committee on Financial Services. By Mr. BARR, H2995 [8MY] H.R. 8288 — A bill to require the Board of Governors of the Federal Reserve System to carry out a review of discount window operations, and for other purposes; to the Committee on Financial Services. By Mr. BARR, H2995 [8MY] H.R. 8289 — A bill to extend authorizations for the airport improvement program, to extend the funding and expenditure authority of the Airport and Airway Trust Fund, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on Science, Space, and Technology, the Judiciary, Homeland Security, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. considered and passed. By Mr. GRAVES of Missouri (for himself and Mr. Larsen of Washington), H2995 [8MY] Text, H2968 [8MY] Rules suspended. Passed House, H2978 [8MY] Message from the House, S3593 [8MY] Passed Senate, S3665 [9MY] Message from the Senate, H3001 [10MY] Message from the House (received May 10, 2024, during adjournment), S3683 [14MY] Examined and signed in the House, H3001 [10MY] Examined and signed in the Senate (May 10, 2024, during adjournment), S3683 [14MY] Presented to the President (May 10, 2024), H3270 [15MY] Approved [Public Law 118–60] (signed May 10, 2024), H3206 [14MY] H.R. 8290 — A bill to amend the Internal Revenue Code of 1986 to require the public disclosure of grants made by certain tax-exempt organizations to foreign entities; to the Committee on Ways and Means. By Mr. SMUCKER, H2995 [8MY] Cosponsors added, H3400 [21MY], H3526 [23MY] H.R. 8291 — A bill to amend the Internal Revenue Code of 1986 to prohibit certain tax-exempt organizations from providing funding for election administration; to the Committee on Ways and Means. By Ms. TENNEY, H2995 [8MY] Cosponsors added, H3206 [14MY] H.R. 8292 — A bill to amend the Internal Revenue Code of 1986 to increase penalties for unauthorized disclosure of taxpayer information; to the Committee on Ways and Means. By Mr. SMITH of Missouri (for himself, Mr. Buchanan, Mr. Smith of Nebraska, Mr. Kelly of Pennsylvania, Mr. Schweikert, Mr. LaHood, Mr. Wenstrup, Mr. Arrington, Mr. Ferguson, Mr. Estes, Mr. Smucker, Mr. Hern, Mrs. Miller of West Virginia, Mr. Murphy, Mr. Kustoff, Mr. Fitzpatrick, Mr. Steube, Ms. Tenney, Mrs. Fischbach, Mr. Moore of Utah, Mrs. Steel, Ms. Van Duyne, Mr. Feenstra, Ms. Malliotakis, and Mr. Carey), H2995 [8MY] Cosponsors added, H3486 [22MY] H.R. 8293 — A bill to amend the Internal Revenue Code of 1986 to provide for the public reporting of data on certain contributions received by tax-exempt organizations from foreign sources, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SCHWEIKERT, H2995 [8MY] H.R. 8294 — A bill to amend title XVIII of the Social Security Act to provide for a waiver of certain criteria with respect to the designation of a critical access hospital; to the Committee on Ways and Means. By Mr. VAN ORDEN, H2996 [8MY] H.R. 8295 — A bill to require the President to deliver ammunition to Israel, and for other purposes; to the Committee on Armed Services. By Ms. VAN DUYNE, H2996 [8MY] Cosponsors added, H3206 [14MY], H3358 [17MY], H3400 [21MY], H3526 [23MY], H3543 [31MY] H.R. 8296 — A bill to amend chapter 8 of title 5, United States Code, to require Federal agencies to submit to the Comptroller General of the United States a report on rules that are revoked, suspended, replaced, amended, or otherwise made ineffective; to the Committee on the Judiciary. By Mr. BENTZ, H2996 [8MY] H.R. 8297 — A bill to amend the HOME Investment Partnerships Act to establish a Project Turnkey Program to leverage vacant hotels and motels for housing and enhance shelter capacity nationally, and for other purposes; to the Committee on Financial Services. By Ms. BONAMICI (for herself, Ms. Norton, Mrs. Ramirez, Mrs. Watson Coleman, Ms. Lee of California, Mr. Jackson of Illinois, Ms. Tlaib, Ms. Castor of Florida, Ms. Salinas, Ms. Jacobs, and Mr. Carson), H2996 [8MY] Cosponsors added, H3206 [14MY], H3358 [17MY], H3583 [3JN], H3728 [11JN] H.R. 8298 — A bill to amend section 1977A of the Revised Statutes of 1977 to equalize the remedies available under that section and to amend the Age Discrimination in Employment Act of 1967 to provide any legal or equitable relief available under title VII of the Civil Rights Act of 1964; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BONAMICI (for herself and Mr. Scott of Virginia), H2996 [8MY] Cosponsors added, H3007 [10MY], H3206 [14MY], H3275 [15MY], H4116 [18JN] H.R. 8299 — A bill to require the Secretary of Health and Human Services, in consultation with the Secretary of Commerce, the Council for Technology and Innovation of the Centers for Medicare & Medicaid Services, and the Commissioner of Food and Drugs, to carry out a program to facilitate and coordinate efforts between the United States and Israel to expand and enhance collaboration on the development and delivery of health care products and services; to the Committee on Energy and Commerce. By Mr. BUCHANAN (for himself, Mr. Soto, and Mrs. Miller-Meeks), H2996 [8MY] H.R. 8300 — A bill to amend the Food and Nutrition Act of 2008 to establish online and delivery standards, and for other purposes; to the Committee on Agriculture. By Ms. CRAIG (for herself and Ms. Budzinski), H2996 [8MY] Cosponsors added, H3728 [11JN], H4110 [14JN] H.R. 8301 — A bill to require the Secretary of Labor to maintain a publicly available list of all employers that relocate a call center or contract call center work overseas, to make such companies ineligible for Federal grants or guaranteed loans, and to require disclosure of the physical location of business agents engaging in customer service communications, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, Oversight and Accountability, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. DAVIDS of Kansas (for herself and Mr. Fitzpatrick), H2996 [8MY] H.R. 8302 — A bill to establish a commission to review the programs of the Department of Housing and Urban Development and make recommendations for legislative reforms, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DAVIDSON (for himself, Mr. Meuser, Mr. Donalds, and Mr. Garbarino), H2996 [8MY] H.R. 8303 — A bill to require the United States Postal Service to notify postal customers and relevant officials when operations are temporarily suspended at a post office, and for other purposes; to the Committee on Oversight and Accountability. By Mr. DIAZ-BALART, H2996 [8MY] Cosponsors added, H3206 [14MY], H3331 [16MY] H.R. 8304 — A bill to provide for a limitation on liability for certain institutions regarding limitations on compensation to student athletes; to the Committee on Education and the Workforce. By Mr. FRY (for himself, Mr. Moore of Alabama, Mr. Duncan, Mr. Norman, Mr. Wilson of South Carolina, Mr. Timmons, Mr. Guest, Mr. Nehls, and Mr. Jordan), H2996 [8MY] H.R. 8305 — A bill to establish a payment program for unexpected loss of markets and revenues to timber harvesting and timber hauling businesses due to major disasters, and for other purposes; to the Committee on Agriculture. By Mr. GOLDEN of Maine (for himself, Mr. Stauber, and Ms. Pingree), H2996 [8MY] H.R. 8306 — A bill to provide that silencers be treated the same as firearms accessories; to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOOD of Virginia (for himself, Mr. Gosar, Mr. Ogles, Mr. Higgins of Louisiana, Mr. Babin, Mr. Rosendale, Mr. Moore of Alabama, and Mr. Norman), H2996 [8MY] H.R. 8307 — A bill to provide that the memorial to commemorate the sacrifice and service of the women who worked on the home front to support the efforts of the United States military during World War II may be located on the National Mall, and for other purposes; to the Committee on Natural Resources. By Ms. GRANGER (for herself and Mrs. Dingell), H2996 [8MY] Cosponsors added, H3007 [10MY], H3531 [24MY], H3583 [3JN], H3728 [11JN], H4064 [13JN] H.R. 8308 — A bill to reauthorize the Nutria Eradication and Control Act of 2003; to the Committee on Natural Resources. By Mr. HARDER of California (for himself, Mr. Graves of Louisiana, Mr. Valadao, Mr. Garamendi, and Mr. Panetta), H2996 [8MY] H.R. 8309 — A bill to amend the Foreign Assistance Act of 1961 to provide for the inclusion of additional information relating to internet freedom in Annual Country Reports on Human Rights Practices; to the Committee on Foreign Affairs. By Ms. JACOBS (for herself and Ms. Salazar), H2996 [8MY] H.R. 8310 — A bill to require strategies on United States policy towards the Democratic Republic of the Congo, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. JAMES (for himself and Mr. Jackson of Illinois), H2996 [8MY] Cosponsors added, H3206 [14MY] H.R. 8311 — A bill to cancel existing medical debt, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KHANNA (for himself, Ms. Tlaib, Mr. Bowman, Mr. Casar, Ms. Jayapal, Ms. Lee of Pennsylvania, Mr. McGovern, Ms. Omar, Ms. Pressley, Mrs. Ramirez, Ms. Schakowsky, Mr. Takano, and Ms. Velázquez), H2996 [8MY] H.R. 8312 — A bill to direct the Secretary of Veterans Affairs to establish a pilot program to permit certain members of the Armed Forces to pre-enroll in the system of annual patient enrollment established and operated under section 1705 of title 38, United States Code; to the Committee on Veterans’ Affairs. By Mrs. KIM of California (for herself, Mr. Carbajal, Ms. Tokuda, and Mr. Ciscomani), H2996 [8MY] Cosponsors added, H3007 [10MY] H.R. 8313 — A bill to prioritize Federal permitting for certain national defense activities related to the authorities under the Defense Production Act of 1950 and projects related to such activities, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LUETKEMEYER, H2996 [8MY] H.R. 8314 — A bill to amend the Internal Revenue Code of 1986 to impose penalties with respect to contributions to political committees from certain tax exempt organizations that receive contributions from foreign nationals; to the Committee on Ways and Means. By Ms. MALLIOTAKIS, H2996 [8MY] H.R. 8315 — A bill to amend the Export Control Reform Act of 2018 to prevent foreign adversaries from exploiting United States artificial intelligence and other enabling technologies, and for other purposes; to the Committee on Foreign Affairs. By Mr. McCAUL (for himself, Mr. Moolenaar, Mr. Krishnamoorthi, and Ms. Wild), H2996 [8MY] Cosponsors added, H3275 [15MY], H3331 [16MY], H3400 [21MY] H.R. 8316 — A bill to establish a program of workforce development as an alternative to college for all, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MILLER of Ohio (for himself, Mr. Van Orden, and Mr. D’Esposito), H2996 [8MY] Cosponsors added, H3657 [4JN] H.R. 8317 — A bill to amend title XIX of the Social Security Act to provide coverage under the Medicaid program for services provided by doulas and midwives, and for other purposes; to the Committee on Energy and Commerce. By Ms. MOORE of Wisconsin (for herself, Ms. Underwood, Ms. Adams, Ms. Pressley, and Mrs. Dingell), H2996 [8MY] H.R. 8318 — A bill to amend the Internal Revenue Code of 1986 to treat Indian Tribal Governments in the same manner as State governments for certain Federal tax purposes, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MOORE of Wisconsin (for herself, Mr. Schweikert, Mr. Kildee, Mr. Kelly of Pennsylvania, Ms. DelBene, Mr. Cole, Mr. Kilmer, and Mr. Moolenaar), H2996 [8MY] Cosponsors added, H4064 [13JN] H.R. 8319 — A bill to create a grant program to support the development of innovative learning models, and for other purposes; to the Committee on Education and the Workforce. By Mr. MORELLE (for himself and Mr. Trone), H2997 [8MY] Cosponsors added, H3400 [21MY], H3583 [3JN] H.R. 8320 — A bill to allow taxpayers to indicate whether the Federal income taxes they pay should be used for domestic or international purposes, to rescind certain balances made available to the Internal Revenue Service, and for other purposes; to the Committee on Ways and Means. By Mr. NEHLS (for himself and Mr. Moore of Alabama), H2997 [8MY] Cosponsors added, H3331 [16MY] H.R. 8321 — A bill to require person convicted of unlawful activity on the campus of an institution of higher education beginning on and after October 7, 2023, to provide community service in Gaza; to the Committee on Foreign Affairs. By Mr. OGLES (for himself, Mr. Duncan, and Mr. Weber of Texas), H2997 [8MY] H.R. 8322 — A bill to revoke visas of certain aliens for rioting or unlawful protests, and for other purposes; to the Committee on the Judiciary. By Mr. OGLES (for himself, Mr. Duncan, Mr. Weber of Texas, Mr. Tiffany, and Mr. Rosendale), H2997 [8MY] Cosponsors added, H3007 [10MY], H3206 [14MY] H.R. 8323 — A bill to provide emergency assistance to States, territories, Tribal nations, and local areas affected by substance use disorder, including the use of opioids and stimulants, and to make financial assistance available to States, territories, Tribal nations, local areas, public or private nonprofit entities, and certain health providers, to provide for the development, organization, coordination, and operation of more effective and cost efficient systems for the delivery of essential services to individuals with substance use disorder and their families; to the Committee on Energy and Commerce, and in addition to the Committees on Natural Resources, the Judiciary, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. RASKIN (for himself, Ms. Kuster, Mr. Trone, Ms. Pettersen, Ms. Balint, Ms. Barragán, Mr. Blumenauer, Ms. Blunt Rochester, Ms. Bonamici, Mr. Bowman, Ms. Brown, Ms. Brownley, Ms. Bush, Mr. Cárdenas, Mr. Carson, Mr. Casar, Ms. Chu, Mr. Connolly, Ms. Crockett, Mr. Cuellar, Mr. Davis of Illinois, Ms. Dean of Pennsylvania, Ms. DeGette, Mrs. Dingell, Ms. Escobar, Mr. Frost, Mr. García of Illinois, Mr. Robert Garcia of California, Ms. Garcia of Texas, Mr. Goldman of New York, Mr. Gomez, Mr. Grijalva, Mrs. Hayes, Mr. Huffman, Ms. Jackson Lee, Ms. Jayapal, Mr. Johnson of Georgia, Ms. Kelly of Illinois, Mr. Khanna, Mr. Krishnamoorthi, Mr. Larson of Connecticut, Ms. Lee of California, Ms. Lee of Pennsylvania, Ms. Leger Fernandez, Mr. Lieu, Mr. Lynch, Ms. Matsui, Ms. McCollum, Mr. McGovern, Mr. Meeks, Ms. Meng, Mr. Mfume, Ms. Moore of Wisconsin, Mr. Morelle, Mr. Moulton, Mr. Nadler, Mr. Neguse, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Mr. Panetta, Ms. Pingree, Mr. Pocan, Ms. Porter, Ms. Pressley, Ms. Ross, Ms. Sánchez, Mr. Sarbanes, Ms. Scanlon, Ms. Schakowsky, Mr. Schiff, Ms. Spanberger, Ms. Stansbury, Ms. Titus, Ms. Tlaib, Ms. Tokuda, Mr. Tonko, Mr. Torres of New York, Mrs. Trahan, Ms. Underwood, Ms. Velázquez, Ms. Wasserman Schultz, and Ms. Williams of Georgia), H2997 [8MY] Cosponsors added, H3400 [21MY] H.R. 8324 — A bill to designate the United States courthouse annex located at 310 South Main Street in London, Kentucky, as the ‘‘Eugene E. Siler, Jr. United States Courthouse Annex’’; to the Committee on Transportation and Infrastructure. By Mr. ROGERS of Kentucky, H2997 [8MY] H.R. 8325 — A bill to require the Secretary of Health and Human Services to issue regulations to ensure due process rights for physicians before any termination, restriction, or reduction of the professional activity of such physicians or staff privileges of such physicians; to the Committee on Energy and Commerce. By Mr. RUIZ (for himself, Mr. Joyce of Pennsylvania, Ms. Porter, and Mr. Murphy), H2997 [8MY] H.R. 8326 — A bill to amend the Agricultural Adjustment Act with respect to the treatment of dates for processing under certain marketing orders; to the Committee on Agriculture, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. RUIZ, H2997 [8MY] H.R. 8327 — A bill to amend title XI of the Social Security Act to provide for the redistribution of unused territorial cap amounts under the Medicaid program; to the Committee on Energy and Commerce. By Mr. SABLAN (for himself, Mr. Moylan, and Mrs. Radewagen), H2997 [8MY] H.R. 8328 — A bill to establish grants to provide education on guardianship alternatives for older adults and people with disabilities to health care workers, educators, family members, and court workers and court-related personnel; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SCANLON, H2997 [8MY] H.R. 8329 — A bill to reauthorize and modify the Belarus Democracy Act of 2004; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMITH of New Jersey (for himself, Mr. Keating, Mr. Kean of New Jersey, Ms. Kaptur, and Mr. Wilson of South Carolina), H2997 [8MY] H.R. 8330 — A bill to amend the Public Health Service Act to increase access to accelerated nursing degree programs, and for other purposes; to the Committee on Energy and Commerce. By Ms. STEVENS (for herself and Mr. Joyce of Ohio), H2997 [8MY] H.R. 8331 — A bill to amend titles XVIII and XIX of the Social Security Act to require skilled nursing facilities, nursing facilities, intermediate care facilities for the intellectually disabled, and inpatient rehabilitation facilities to permit essential caregivers access during any period in which regular visitation is restricted; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TENNEY (for herself, Mr. Larson of Connecticut, Mr. Fitzpatrick, Mr. Smith of Nebraska, Mr. Rutherford, Mr. Van Orden, Ms. Wild, Mr. Carey, Mr. Lawler, Mr. Cleaver, Ms. Lee of Nevada, Mr. Ciscomani, Mr. Bacon, Mr. Davis of North Carolina, Mr. Cohen, and Mr. Langworthy), H2997 [8MY] Cosponsors added, H3007 [10MY], H3206 [14MY], H3358 [17MY], H3400 [21MY], H3526 [23MY], H3583 [3JN], H3657 [4JN], H3682 [7JN], H3728 [11JN], H3976 [12JN] H.R. 8332 — A bill to prohibit student loan forgiveness for certain students, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WILLIAMS of Texas, H2997 [8MY] H.R. 8333 — A bill to prohibit contracting with certain biotechnology providers, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WENSTRUP (for himself, Mr. Krishnamoorthi, Mr. Moolenaar, Ms. Eshoo, Mr. Dunn of Florida, Mr. Moulton, Ms. Stefanik, and Mr. Davis of North Carolina), H3004 [10MY] Cosponsors added, H3206 [14MY], H3400 [21MY] H.R. 8334 — A bill to require any applicant for a Federal grant to submit a certification that such applicant in not in violation of section 274(a) of the Immigration and Nationality Act, and for other purposes; to the Committee on Oversight and Accountability. By Ms. FOXX (for herself and Mr. Tiffany), H3004 [10MY] Cosponsors added, H3543 [31MY], H3976 [12JN] H.R. 8335 — A bill to require the Director of the Office of Management and Budget to submit to Congress an annual report on projects that are over budget and behind schedule, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. MILLER-MEEKS, H3004 [10MY] H.R. 8336 — A bill to amend title 10, United States Code, to establish a counseling pathway in the Transition Assistance Program for members of the reserve components of the Armed Forces; to the Committee on Armed Services. By Ms. McCLELLAN (for herself, Mr. Kelly of Mississippi, Ms. Norton, Ms. Omar, Ms. Moore of Wisconsin, Mr. Thanedar, Ms. Wexton, Mr. Moylan, Ms. Salinas, Mr. Davis of North Carolina, Mr. Levin, Ms. Williams of Georgia, Ms. Spanberger, and Mr. Van Orden), H3004 [10MY] Cosponsors added, H3358 [17MY], H3400 [21MY], H3976 [12JN] H.R. 8337 — A bill to amend the Federal banking laws to improve the safety and soundness of the United States banking system, and for other purposes; to the Committee on Financial Services. By Mr. BARR, H3004 [10MY] Cosponsors added, H3275 [15MY] H.R. 8338 — A bill to regulate small-dollar, short-term credit products, to protect the privacy of lenders, and to improve the unfair, deceptive, or abusive acts or practices authority of the Bureau of Consumer Financial Protection, and for other purposes; to the Committee on Financial Services. By Mrs. KIM of California, H3004 [10MY] Cosponsors added, H3331 [16MY] H.R. 8339 — A bill to make improvements to the securities laws, and for other purposes; to the Committee on Financial Services. By Mrs. WAGNER, H3004 [10MY] Cosponsors added, H3275 [15MY] H.R. 8340 — A bill to amend section 3(b)(4) of the United States Housing Act of 1937 to exclude certain disability benefits from income for the purposes of determining eligibility for the supported housing program under section 8(o)(19), and for other purposes; to the Committee on Financial Services. By Mr. SHERMAN (for himself, Ms. De La Cruz, Mr. Lieu, Mr. Levin, Mr. Carbajal, Mr. Gottheimer, Mrs. Cherfilus-McCormick, Mr. Nickel, Ms. Budzinski, Mr. Foster, Ms. Brownley, Mr. Sessions, Mr. Meuser, Mr. Bacon, Mr. Mast, and Mr. Fitzpatrick), H3004 [10MY] Cosponsors added, H3206 [14MY], H3275 [15MY], H3583 [3JN] H.R. 8341 — A bill to amend the Congressional Budget Act of 1974 to provide that any estimate prepared by the Congressional Budget Office or the Joint Committee on Taxation shall include costs relating to servicing the public debt, and for other purposes; to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CLOUD (for himself, Mr. Case, Mr. Meuser, Mr. Golden of Maine, and Mr. McClintock), H3004 [10MY] Cosponsors added, H3206 [14MY], H3275 [15MY] H.R. 8342 — A bill to amend title 31, United States Code, to include information on improper payments under Federal programs, and for other purposes; to the Committee on the Budget. By Mr. YAKYM (for himself, Mr. Panetta, Mr. Bergman, and Mr. Peters), H3004 [10MY] Cosponsors added, H3275 [15MY] H.R. 8343 — A bill to amend title 31, United States Code, to include information on improper payments under Federal programs, to change the treatment of certain Federal programs with respect to susceptibility to significant improper payments, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOORE of Utah (for himself and Ms. Spanberger), H3004 [10MY] Cosponsors added, H3275 [15MY], H3526 [23MY] H.R. 8344 — A bill to require the Secretary of Agriculture to submit to Congress a report on available assistance to agricultural producers in the State of Texas that have suffered economic losses due to the failure of Mexico to deliver water; to the Committee on Agriculture. By Ms. DE LA CRUZ (for herself, Ms. Crockett, and Mr. Tony Gonzales of Texas), H3004 [10MY] H.R. 8345 — A bill to limit funds to the United Nations and other organizations that provide any status, rights, or privileges beyond observer status to the Palestine Liberation Organization, and for other purposes; to the Committee on Foreign Affairs. By Mr. BAIRD (for himself and Mr. McCaul), H3004 [10MY] Cosponsors added, H3358 [17MY], H3486 [22MY] H.R. 8346 — A bill to assist survivors of stroke and other debilitating health occurrences in returning to work; to the Committee on Education and the Workforce. By Mrs. BEATTY (for herself and Mr. Smith of New Jersey), H3004 [10MY] H.R. 8347 — A bill to direct the Comptroller General of the United States to conduct a study on menopause care furnished by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. BROWNLEY, H3004 [10MY] Cosponsors added, H3976 [12JN] H.R. 8348 — A bill to establish in the Cybersecurity and Infrastructure Security Agency of the Department of Homeland Security a task force on artificial intelligence, and for other purposes; to the Committee on Homeland Security. By Mr. CARTER of Louisiana (for himself and Mr. Thompson of Mississippi), H3004 [10MY] H.R. 8349 — A bill to establish the position of National Roadway Safety Advocate within the Department of Transportation, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. COHEN, H3004 [10MY] Cosponsors added, H3400 [21MY], H3486 [22MY] H.R. 8350 — A bill to amend the Federal Crop Insurance Act to provide premium support for certain plans of insurance, and for other purposes; to the Committee on Agriculture. By Mr. FINSTAD (for himself, Mrs. Fischbach, Mr. Mann, and Mrs. Miller-Meeks), H3004 [10MY] Cosponsors added, H3275 [15MY] H.R. 8351 — A bill to increase duties imposed with respect to autos imported into the United States that originate in the People’s Republic of China, and for other purposes; to the Committee on Ways and Means. By Mr. GOLDEN of Maine, H3004 [10MY] H.R. 8352 — A bill to require the imposition of additional duties with respect to imports of green energy goods that originate in the People’s Republic of China, and for other purposes; to the Committee on Ways and Means. By Mr. GOLDEN of Maine, H3004 [10MY] H.R. 8353 — A bill to require the Election Assistance Commission to develop voluntary guidelines for the administration of elections that address the use and risks of artificial intelligence technologies, and for other purposes; to the Committee on House Administration. By Ms. HOULAHAN (for herself, Mr. Fitzpatrick, Mr. Lamborn, Ms. Spanberger, Mr. Moulton, Mr. Lieu, and Ms. Slotkin), H3004 [10MY] Cosponsors added, H3675 [5JN] H.R. 8354 — A bill to provide for the implementation of a system of licensing for purchasers of certain firearms and for a record of sale system for those firearms, and for other purposes; to the Committee on the Judiciary. By Mr. JACKSON of Illinois (for himself and Ms. Norton), H3004 [10MY] Cosponsors added, H3486 [22MY] H.R. 8355 — A bill to amend the Internal Revenue Code of 1986 to recognize Indian tribal governments for purposes of determining under the adoption credit whether a child has special needs; to the Committee on Ways and Means. By Mr. KILMER (for himself, Mr. Kelly of Pennsylvania, Mr. Moolenaar, and Ms. Moore of Wisconsin), H3004 [10MY] H.R. 8356 — A bill to amend the Truth in Lending Act to provide for a safe harbor for small-dollar credit products, and for other purposes; to the Committee on Financial Services. By Mrs. KIM of California, H3004 [10MY] H.R. 8357 — A bill to provide that not less than 3 percent of the amounts made available for certain Federal-aid highway programs shall be expended through veteran owned small business concerns, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. KIM of New Jersey (for himself, Mr. Fitzpatrick, and Mr. Carson), H3004 [10MY] H.R. 8358 — A bill to support Taiwan’s international space, and for other purposes; to the Committee on Foreign Affairs. By Mr. KRISHNAMOORTHI (for himself, Mr. Moolenaar, Mr. Meeks, Mr. Barr, Mr. Bera, Mr. Connolly, Mr. Lieu, and Mr. Lawler), H3004 [10MY] Cosponsors added, H3275 [15MY], H3331 [16MY] H.R. 8359 — A bill to amend the Federal Crop Insurance Act to require the Federal Crop Insurance Corporation to carry out research and development regarding a policy to insure table, wine and juice grapes against losses due to a freeze event, and for other purposes; to the Committee on Agriculture. By Mr. LANGWORTHY, H3004 [10MY] H.R. 8360 — A bill to amend the Federal Food, Drug, and Cosmetic Act to deem any sunscreen or cosmetic containing parabens to be adulterated; to the Committee on Energy and Commerce. By Mrs. LUNA (for herself, Ms. Caraveo, and Mr. Nehls), H3004 [10MY] H.R. 8361 — A bill to impose sanctions with respect to economic or industrial espionage by foreign adversarial companies, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. McCORMICK, H3004 [10MY] Cosponsors added, H3206 [14MY], H3275 [15MY] H.R. 8362 — A bill to direct the Secretary of State to host regular U.S.-Africa Leaders Summits, and for other purposes; to the Committee on Foreign Affairs. By Mr. MEEKS (for himself and Ms. Jacobs), H3004 [10MY] Cosponsors added, H3206 [14MY], H3275 [15MY], H3331 [16MY] H.R. 8363 — A bill to exchange non-Federal land held by the Chugach Alaska Corporation for certain Federal Land in the Chugach Region, and for other purposes; to the Committee on Natural Resources. By Mrs. PELTOLA, H3005 [10MY] H.R. 8364 — A bill to amend chapter 44 of title 18, United States Code, to update certain procedures applicable to commerce in firearms and remove certain Federal restrictions on interstate firearms transactions; to the Committee on the Judiciary. By Mr. SCALISE (for himself, Mr. DesJarlais, Mr. Bean of Florida, Mr. Lamborn, Mr. Dunn of Florida, Mr. Biggs, Mr. Fleischmann, Mr. Fallon, Mr. Hudson, Mr. Self, Mr. Hunt, Mr. Duncan, Mr. Grothman, Mr. Latta, Mr. Yakym, Mr. Reschenthaler, Mr. Amodei, Mr. Barr, Mrs. Miller of Illinois, Mr. Carl, Mr. Bacon, Mr. Smith of Nebraska, Mr. Collins, Mr. Crenshaw, Mrs. Hinson, Ms. Letlow, Mr. Bilirakis, Ms. Tenney, Mr. Armstrong, Mr. Higgins of Louisiana, Mr. Rogers of Alabama, Mr. Guest, Mr. Rose, Mr. Clyde, Mr. Miller of Ohio, Mr. Calvert, Mr. Tony Gonzales of Texas, Mr. Baird, Mr. Guthrie, Mr. Jackson of Texas, Mr. Sessions, Mr. Meuser, Ms. Lee of Florida, Mr. Mooney, and Mr. Williams of Texas), H3005 [10MY] Cosponsors added, H3358 [17MY], H3657 [4JN] H.R. 8365 — A bill to amend the Sean and David Goldman International Child Abduction Prevention and Return Act of 2014 to make modifications to that Act; to the Committee on Foreign Affairs. By Mr. SMITH of New Jersey, H3005 [10MY] H.R. 8366 — A bill to extend authorities to impose sanctions under certain laws relating to Hong Kong, Tibet, and the Xinjiang Uyghur Autonomous Region; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMITH of New Jersey (for himself and Mr. McGovern), H3005 [10MY] H.R. 8367 — A bill to ensure labor organization transparency and accountability; to the Committee on Education and the Workforce. By Mrs. STEEL, H3005 [10MY] H.R. 8368 — A bill to establish a Coordinator for Afghan Relocation Efforts in the Department of State, and for other purposes; to the Committee on Foreign Affairs. By Ms. TITUS (for herself, Mr. Baird, Mr. Meeks, Mr. Crow, and Mr. Stanton), H3005 [10MY] Cosponsors added, H3206 [14MY], H3275 [15MY], H3331 [16MY], H3400 [21MY], H3486 [22MY], H3583 [3JN] H.R. 8369 — A bill to provide for the expeditious delivery of defense articles and defense services for Israel and other matters; to the Committee on Foreign Affairs, and in addition to the Committees on Armed Services, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CALVERT (for himself, Mr. Cole, Mr. Diaz-Balart, Mr. Joyce of Ohio, Mr. McCaul, Mrs. Houchin, Mr. Yakym, Mr. McClintock, Ms. Tenney, Mr. Weber of Texas, Mr. Aderholt, Mr. Lawler, Mr. Moolenaar, Mr. Ellzey, Mr. Fleischmann, Mr. Reschenthaler, Mrs. Miller of West Virginia, Mrs. Miller-Meeks, Mrs. Kiggans of Virginia, Mr. Wittman, Mr. Zinke, Mr. Valadao, Mr. Carter of Texas, Mr. Womack, Mr. Pfluger, Mr. Lamborn, Mr. Armstrong, Mr. Fitzpatrick, Mr. Owens, Mr. Tony Gonzales of Texas, Mr. Van Drew, Mrs. Wagner, Mr. Burchett, Mrs. Hinson, Mr. Langworthy, Mr. Buchanan, Mr. Fulcher, Ms. Stefanik, Ms. Hageman, Mr. Barr, Mr. Guest, Mr. Graves of Missouri, Mr. Mike Garcia of California, Mr. Kean of New Jersey, Ms. Foxx, Mr. Bilirakis, Mr. Garbarino, Mr. Moran, Mr. Gimenez, Mr. Rose, Mr. LaLota, Mr. Kelly of Mississippi, Mr. Sessions, Mr. Mann, Mr. Simpson, Mr. Newhouse, Mr. Smith of New Jersey, Mr. Bergman, Mr. LaMalfa, Mr. Carter of Georgia, Mr. Dunn of Florida, Ms. Granger, Mrs. Bice, Mr. Stauber, Mr. Mast, Mr. Hunt, Mr. Lucas, Mr. Meuser, Mr. Bost, Mr. Williams of New York, Mr. Guthrie, Mr. McHenry, Ms. Letlow, Mr. Austin Scott of Georgia, Mr. Bacon, Mr. Graves of Louisiana, Mr. Kustoff, Mr. Fry, Mr. James, Mr. Smith of Nebraska, Mr. Gooden of Texas, Mr. LaTurner, Mr. Grothman, Mr. Burgess, Mr. Jackson of Texas, Mr. Hill, Mr. Waltz, Mr. Johnson of South Dakota, Mr. Amodei, Mr. Ciscomani, Mr. Williams of Texas, Ms. Van Duyne, Mr. Rogers of Kentucky, Mr. Edwards, Mr. Kelly of Pennsylvania, Mr. Allen, Mr. Joyce of Pennsylvania, Mr. Rouzer, Mr. Balderson, Mr. Babin, Mr. Nunn of Iowa, Mr. Green of Tennessee, Mr. Scalise, Mr. Mills, Mr. Duarte, Mr. Finstad, Mr. Walberg, Mr. Kiley, Mr. Smith of Missouri, Mrs. Chavez-DeRemer, Mr. Feenstra, Mr. Latta, Mr. Steube, Mr. Rutherford, Mr. D’Esposito, Mr. Scott Franklin of Florida, Mr. Banks, and Ms. Malliotakis), H3202 [14MY] Cosponsors added, H3275 [15MY] Providing for consideration (H. Res. 1227), H3272 [15MY] Debated, H3287 [16MY] Text, H3287 [16MY] Motion to recommit, H3294 [16MY] Passed House, H3310 [16MY] Message from the House, S3778 [20MY] Read the first time, S3781 [20MY] Read the second time. Placed on the calendar, S3783 [21MY] Objection is heard to request for consideration, S3822 [22MY] H.R. 8370 — A bill to enhance the security operations of the Transportation Security Administration and stability of the transportation security workforce by applying the personnel system under title 5, United States Code, to employees of the Transportation Security Administration, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. THOMPSON of Mississippi (for himself, Mr. Raskin, Ms. DeLauro, Mr. Thanedar, Ms. Underwood, Ms. Jackson Lee, Mr. Swalwell, Mr. Correa, Mr. Fitzpatrick, Mr. Van Drew, Mrs. Chavez-DeRemer, Ms. Malliotakis, Mr. Garbarino, Mr. Bost, Mr. Molinaro, and Mr. Bacon), H3202 [14MY] Cosponsors added, H3331 [16MY], H3358 [17MY], H3400 [21MY], H3526 [23MY], H3583 [3JN], H4064 [13JN], H4110 [14JN] H.R. 8371 — A bill to make certain improvements in the laws administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs, and in addition to the Committees on Natural Resources, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CISCOMANI (for himself, Mr. Ellzey, Mr. Carey, Mr. Baird, Mr. Bergman, Mr. Luttrell, Mr. Bacon, Mr. Murphy, Mr. Bost, Mrs. Kiggans of Virginia, Mrs. Miller-Meeks, Mr. Gimenez, Mr. Williams of New York, Mr. Edwards, and Mrs. Steel), H3202 [14MY] Cosponsors added, H3275 [15MY], H3400 [21MY], H3486 [22MY], H3535 [28MY], H4116 [18JN] H.R. 8372 — A bill to require the annual budget submission of the President to Congress and the annual concurrent resolution on the budget provide an estimate of certain additional information per each taxpayer, and for other purposes; to the Committee on the Budget, and in addition to the Committees on Ways and Means, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ARRINGTON (for himself, Mr. Estes, and Mr. Grothman), H3202 [14MY] Cosponsors added, H3275 [15MY], H3486 [22MY] H.R. 8373 — A bill to amend title 5, United States Code, to prohibit the payment of annuities and retired pay to individuals convicted of certain sex crimes, and for other purposes; to the Committee on Oversight and Accountability. By Mr. SESSIONS (for himself and Ms. Houlahan), H3202 [14MY] Cosponsors added, H3275 [15MY], H3331 [16MY], H3358 [17MY], H3400 [21MY], H3583 [3JN] H.R. 8374 — A bill to prohibit Federal interference with the interstate traffic of unpasteurized milk and milk products that are packaged for direct human consumption; to the Committee on Energy and Commerce. By Mr. MASSIE (for himself, Ms. Pingree, Mr. Davidson, Mr. Higgins of Louisiana, Mr. Gosar, Ms. Greene of Georgia, Mr. Griffith, Mr. Grothman, Mr. Perry, Mr. Roy, and Mr. Smucker), H3202 [14MY] Cosponsors added, H3358 [17MY], H3486 [22MY] H.R. 8375 — A bill to require the Secretary of Health and Human Services to issue guidance to States on strategies under Medicaid and CHIP to increase pediatric mental and behavioral health provider education, training, recruitment, retention, and support, and for other purposes; to the Committee on Energy and Commerce. By Ms. CARAVEO (for herself, Mr. Fitzpatrick, Mrs. Watson Coleman, Ms. Jackson Lee, Mr. Thanedar, Ms. Lee of California, Ms. Norton, Ms. Tlaib, and Ms. Stansbury), H3202 [14MY] Cosponsors added, H3275 [15MY], H3358 [17MY], H3400 [21MY], H3486 [22MY] H.R. 8376 — A bill to amend the Public Health Service Act to provide for a national awareness and outreach campaign to improve mental health among the Hispanic and Latino youth population; to the Committee on Energy and Commerce. By Ms. CARAVEO (for herself, Mr. Cárdenas, Mrs. Napolitano, Ms. Salinas, Mr. Grijalva, Ms. Velázquez, Ms. Barragán, Ms. Norton, Mrs. Watson Coleman, Ms. Jackson Lee, Mr. Thanedar, Mr. Torres of New York, Mr. Vargas, Ms. Lee of California, Mr. Espaillat, Ms. Tlaib, and Ms. Stansbury), H3202 [14MY] Cosponsors added, H3358 [17MY], H3400 [21MY] H.R. 8377 — A bill to amend the Advancing Research to Prevent Suicide Act to expand the areas of focus regarding childhood suicide, and for other purposes; to the Committee on Science, Space, and Technology. By Ms. CARAVEO (for herself, Mr. Williams of New York, Mrs. Watson Coleman, Ms. Jackson Lee, Mr. Thanedar, Mr. Krishnamoorthi, Ms. Lee of California, Ms. Tlaib, and Ms. Stansbury), H3202 [14MY] Cosponsors added, H3275 [15MY], H3400 [21MY], H3486 [22MY], H3531 [24MY] H.R. 8378 — A bill to strengthen the role of the United States with respect to the Indian Ocean region, and for other purposes; to the Committee on Foreign Affairs. By Mr. CASTRO of Texas (for himself and Mr. Issa), H3202 [14MY] Cosponsors added, H3682 [7JN] H.R. 8379 — A bill to codify certain rules issued by the Secretary of Transportation relating to airline fare transparency, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. GOTTHEIMER (for himself, Mr. Menendez, and Mr. Gallego), H3202 [14MY] H.R. 8380 — A bill to criminalize fraudulent statements made with respect to clinical vaccine trials; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GREEN of Tennessee, H3202 [14MY] H.R. 8381 — A bill to direct the Comptroller General of the United States and the Secretary of Veterans Affairs to each report on certain disparities that affect the receipt of certain benefits administered by the Secretary, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. HORSFORD, H3202 [14MY] H.R. 8382 — A bill to amend the Internal Revenue Code of 1986 to exclude certain combat zone compensation of certain servicemembers relating to remotely piloted aircraft from gross income; to the Committee on Ways and Means. By Mr. HORSFORD, H3202 [14MY] H.R. 8383 — A bill to improve obstetric emergency care; to the Committee on Energy and Commerce. By Ms. KELLY of Illinois (for herself, Mrs. Kim of California, Mr. Meuser, and Ms. Schrier), H3203 [14MY] Cosponsors added, H3531 [24MY] H.R. 8384 — A bill to prohibit the distribution of materially deceptive AI-generated audio or visual media relating to candidates for Federal office, and for other purposes; to the Committee on House Administration. By Mr. KILMER (for himself and Mr. Tony Gonzales of Texas), H3203 [14MY] Cosponsors added, H3400 [21MY] H.R. 8385 — A bill to amend the Federal Food, Drug, and Cosmetic Act to ensure the safety of food and limit the presence of contaminants in infant and toddler food, and for other purposes; to the Committee on Energy and Commerce. By Mr. KRISHNAMOORTHI (for himself and Mr. Cárdenas), H3203 [14MY] Cosponsors added, H3400 [21MY] H.R. 8386 — A bill to award a Congressional Gold Medal to President Donald J. Trump in recognition of his exceptional leadership and dedication to strengthening America’s diplomatic relations during his presidency; to the Committee on Financial Services. By Mrs. LUNA (for herself, Mr. Ogles, Mr. Weber of Texas, Mr. Reschenthaler, Mr. Waltz, Ms. Boebert, Mr. Good of Virginia, Mrs. Miller of Illinois, and Ms. Tenney), H3203 [14MY] Cosponsors added, H3331 [16MY] H.R. 8387 — A bill to amend title 18, United States Code, to prohibit the disclosure of intimate images, and for other purposes; to the Committee on the Judiciary. By Ms. MACE, H3203 [14MY] H.R. 8388 — A bill to prohibit the purchase, ownership, or possession of enhanced body armor by civilians, with exceptions; to the Committee on the Judiciary. By Ms. MENG (for herself, Mr. Kennedy, Mr. Morelle, Ms. Velázquez, Mr. Johnson of Georgia, and Ms. Norton), H3203 [14MY] H.R. 8389 — A bill to amend the Higher Education Act of 1965 to require institutions of higher education to report to the Secretary of Education each incident of antisemitism reported to campus security authorities or local police agencies; to the Committee on Education and the Workforce, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOLINARO (for himself and Mr. Gottheimer), H3203 [14MY] H.R. 8390 — A bill to amend the Public Health Service Act, the Employee Retirement Income Security Act of 1974, and the Internal Revenue Code of 1986 to require that group health plans and health insurance issuers offering group or individual health insurance that provide coverage for mental health services and substance use disorder services provide such services without the imposition of cost-sharing from the diagnosis of pregnancy through the 1-year period following such pregnancy, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MOORE of Wisconsin (for herself, Ms. Kuster, Mrs. McBath, Ms. Tokuda, Ms. Norton, Mr. Gottheimer, Mrs. Hayes, Ms. Jackson Lee, Ms. McCollum, Mrs. Watson Coleman, Ms. DelBene, Mr. Mfume, Ms. Titus, Mr. Pocan, Mr. Torres of New York, Ms. Tlaib, Ms. Craig, Ms. Porter, Mrs. Dingell, Ms. Bush, and Mr. Thanedar), H3203 [14MY] Cosponsors added, H3331 [16MY], H3486 [22MY], H3526 [23MY], H3682 [7JN], H3728 [11JN] H.R. 8391 — A bill to amend the Water Resources Development Act of 1986 with respect to cost sharing provisions for the territories and Indian Tribes, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MOYLAN (for himself, Mrs. Peltola, and Mrs. González-Colón), H3203 [14MY] Cosponsors added, H3400 [21MY] H.R. 8392 — A bill to add Ireland to the E3 nonimmigrant visa program; to the Committee on the Judiciary. By Mr. NEAL (for himself and Mr. Kelly of Pennsylvania), H3203 [14MY] H.R. 8393 — A bill to amend title 49, United States Code, to require that certain rotorcraft manufactured before April 5, 2020, comply with requirements relating to fuel system crash resistance, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. NEGUSE, H3203 [14MY] H.R. 8394 — A bill to restrict the Chinese Government from accessing United States capital markets and exchanges if it fails to comply with international laws relating to finance, trade, and commerce; to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. OGLES, H3203 [14MY] H.R. 8395 — A bill to require the Administrator of the Environmental Protection Agency to provide for an objective and independent audit of the programs and activities of the Agency under the Clean Air Act and other applicable authorities relating to air pollution, and for other purposes; to the Committee on Energy and Commerce. By Mrs. RODGERS of Washington, H3203 [14MY] H.R. 8396 — A bill to amend the Internal Revenue Code of 1986 to provide a credit for American infrastructure bonds, and for other purposes; to the Committee on Ways and Means. By Ms. SEWELL, H3203 [14MY] H.R. 8397 — A bill to provide funding to the Bureau of Prisons, States, and localities to carry out mental health screenings and provide referrals to mental healthcare providers for individuals in prison or jail; to the Committee on the Judiciary. By Ms. SHERRILL, H3203 [14MY] Cosponsors added, H3486 [22MY] H.R. 8398 — A bill to amend the Harmonized Tariff Schedule of the United States to modify temporarily certain rates of duty, and for other purposes; to the Committee on Ways and Means. By Mr. SMITH of Nebraska (for himself, Mr. Buchanan, Mr. Schweikert, Mr. LaHood, Mr. Wenstrup, Mr. Arrington, Mr. Ferguson, Mr. Estes, Mr. Smucker, Mr. Hern, Mrs. Miller of West Virginia, Mr. Kustoff, Mrs. Fischbach, Mr. Moore of Utah, Ms. Van Duyne, Mrs. Steel, Mr. Feenstra, Mr. Carey, Mr. Emmer, Mr. Norman, and Mr. Kelly of Pennsylvania), H3203 [14MY] Cosponsors added, H3675 [5JN] H.R. 8399 — A bill to amend the Federal Election Campaign Act of 1971 to further restrict contributions of foreign nationals, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. STEIL (for himself and Mrs. Bice), H3203 [14MY] Cosponsors added, H3400 [21MY] H.R. 8400 — A bill to amend the Public Health Service Act to improve children’s vision and eye health through grants to States, territories, and Tribal organizations, and the provision of technical assistance to support those efforts; to the Committee on Energy and Commerce. By Mr. VEASEY (for himself and Mr. Bilirakis), H3203 [14MY] H.R. 8401 — A bill to amend the Internal Revenue Code of 1986 to allow a credit for a portion of employer social security taxes paid with respect to service charges paid by the employer to an employee in the form of wages, and for other purposes; to the Committee on Ways and Means. By Mr. BLUMENAUER, H3272 [15MY] H.R. 8402 — A bill to provide for accurate energy appraisals in connection with residential mortgage loans, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CASTEN, H3272 [15MY] H.R. 8403 — A bill to amend the National Trails System Act to direct the Secretary of Agriculture to conduct a study on the feasibility of designating the Benton MacKaye Trail as a national scenic trail; to the Committee on Natural Resources. By Mr. COHEN (for himself, Mr. Fleischmann, Mr. DesJarlais, Mr. Edwards, Mrs. McBath, and Ms. Williams of Georgia), H3272 [15MY] H.R. 8404 — A bill to amend Title XVIII of the Social Security Act to create a Radiation Oncology Case Rate Value Based Payment Program exempt from budget neutrality adjustment requirements, and to amend section 1128A of title XI of the Social Security Act to create a new statutory exception for the provision of free or discounted transportation for radiation oncology patients to receive radiation therapy services; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZPATRICK (for himself, Mr. Panetta, Mr. Joyce of Pennsylvania, and Mr. Tonko), H3272 [15MY] Cosponsors added, H3526 [23MY] H.R. 8405 — A bill to designate the facility of the United States Postal Service located at 90 McCamly Street South in Battle Creek, Michigan, as the ‘‘Sojourner Truth Post Office’’; to the Committee on Oversight and Accountability. By Mr. HUIZENGA (for himself, Ms. Tlaib, Mr. Bergman, Mr. Thanedar, Mr. Moolenaar, Mr. Kildee, Mr. Walberg, Ms. Scholten, Mrs. McClain, Ms. Stevens, Mr. James, Mrs. Dingell, and Ms. Slotkin), H3272 [15MY] H.R. 8406 — A bill to add Ireland to the E3 nonimmigrant visa program; to the Committee on the Judiciary. By Mr. LAWLER (for himself and Mr. Mullin), H3272 [15MY] H.R. 8407 — A bill to provide for the discharge of parent borrower liability if a student on whose behalf a parent has received certain student loans becomes disabled; to the Committee on Education and the Workforce. By Mr. MAGAZINER (for himself, Mr. Molinaro, Ms. Norton, Mr. Carson, Mrs. Dingell, Mr. Tonko, Mr. Mullin, and Mr. Krishnamoorthi), H3272 [15MY] Cosponsors added, H3682 [7JN], H3728 [11JN], H4116 [18JN] H.R. 8408 — A bill to designate the facility of the United States Postal Service located at 290 NW Peacock Boulevard in Port St. Lucie, Florida, as the ‘‘Trooper Zachary Fink Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. MAST (for himself, Mr. Dunn of Florida, Mr. Bilirakis, Mr. Scott Franklin of Florida, Mr. Donalds, Mrs. Cherfilus-McCormick, Ms. Wasserman Schultz, and Ms. Salazar), H3272 [15MY] Cosponsors added, H3331 [16MY], H3583 [3JN], H3728 [11JN] H.R. 8409 — A bill to assist parents in locating and utilizing child care that meets individual family needs; to the Committee on Ways and Means. By Mr. NICKEL, H3272 [15MY] Cosponsors added, H3526 [23MY] H.R. 8410 — A bill to prohibit judges from issuing gag orders in certain circumstances; to the Committee on the Judiciary. By Mr. OGLES (for himself, Mr. Good of Virginia, Mrs. Luna, Mrs. Harshbarger, Mr. Crane, and Mr. Burlison), H3272 [15MY] Cosponsors added, H3331 [16MY], H3358 [17MY], H3400 [21MY] H.R. 8411 — A bill to establish prohibitions with respect to vessels loaded or previously held at ports, harbors, or marine terminals in certain Western Hemisphere countries and with respect to which land owned, held, or controlled directly or indirectly by United States persons that is necessary to access the ports, harbors, marine terminals, or relevant port infrastructure has been nationalized, forcibly limited, or expropriated by the governments of such countries, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Foreign Affairs, Intelligence (Permanent Select), and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PFLUGER (for himself, Ms. Sewell, Mr. Carl, Mr. Aderholt, Mr. Carbajal, Mr. Moore of Alabama, Mr. Mast, Mr. Palmer, Mr. Vicente Gonzalez of Texas, and Mr. Strong), H3273 [15MY] Cosponsors added, H3682 [7JN] H.R. 8412 — A bill to modernize clinical trials and remove barriers for participation in clinical trials, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. RUIZ (for himself and Mr. Bucshon), H3273 [15MY] H.R. 8413 — A bill to provide for the conveyance of certain Federal land at Swanson Reservoir and Hugh Butler Reservoir in the State of Nebraska, and for other purposes; to the Committee on Natural Resources. By Mr. SMITH of Nebraska (for himself, Mr. Flood, Mr. Bacon, and Mr. Mann), H3273 [15MY] Cosponsors added, H4116 [18JN] H.R. 8414 — A bill to support efforts of the governments of Western Hemisphere countries to increase the diversity of their upstream supply chains and downstream supply chains; to the Committee on Foreign Affairs. By Mr. STANTON (for himself and Mr. Johnson of South Dakota), H3273 [15MY] H.R. 8415 — A bill to require the Inspector General of the Department of Health and Human Services to evaluate the cybersecurity practices and protocols of the Department, and for other purposes; to the Committee on Energy and Commerce. By Mrs. STEEL (for herself, Mr. Schiff, Mrs. Miller-Meeks, Mr. Ryan, Ms. Spanberger, Mr. Pappas, and Mr. Trone), H3273 [15MY] H.R. 8416 — A bill to amend the Harmonized Tariff Schedule of the United States to increase the rate of duty on unmanned aircraft, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. STEFANIK (for herself, Mr. Moolenaar, Mr. Wittman, Mrs. Hinson, and Mr. Banks), H3273 [15MY] Cosponsors added, H3682 [7JN], H4110 [14JN] H.R. 8417 — A bill to require congressional notice of the cancellation or termination of contracts by the Department of Defense involving certain numbers of employees of contractors, and for other purposes; to the Committee on Armed Services. By Mr. VASQUEZ, H3273 [15MY] H.R. 8418 — A bill to direct the Secretary of Veterans Affairs to update the Lethal Means Safety and Suicide Prevention training course of the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Ms. UNDERWOOD (for herself, Ms. Brownley, and Mr. Levin), H3327 [16MY] H.R. 8419 — A bill to amend the Justice for United States Victims of State Sponsored Terrorism Act to provide funding for United States victims of state-sponsored terrorism by ensuring consistent and meaningful distributions from the United States Victims of State Sponsored Terrorism Fund, and for other purposes; to the Committee on the Judiciary. By Mr. LAWLER (for himself, Ms. Malliotakis, Mr. Gottheimer, Mr. Goldman of New York, Mr. James, Mr. Stanton, Mr. Espaillat, Mr. D’Esposito, Mr. Van Drew, Mr. Suozzi, Mr. Nadler, Mr. Molinaro, Mr. Williams of New York, Mr. Ryan, Mr. Norcross, Mr. Schiff, Ms. Stefanik, Mr. LaLota, Mr. Langworthy, Ms. Tenney, Mr. Nehls, Mr. Garbarino, Ms. Meng, Mr. Pallone, Mr. Deluzio, and Mr. Torres of New York), H3327 [16MY] Cosponsors added, H3358 [17MY], H3400 [21MY], H3526 [23MY], H3682 [7JN], H3728 [11JN] H.R. 8420 — A bill making emergency supplemental appropriations for the hiring and rehiring of additional career law enforcement officers for the fiscal year ending September 30, 2024, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARBAJAL (for himself and Mr. Bacon), H3327 [16MY] Cosponsors added, H3486 [22MY], H4064 [13JN] H.R. 8421 — A bill to abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes; to the Committee on Financial Services. By Mr. MASSIE (for himself, Mr. Biggs, Ms. Boebert, Mr. Brecheen, Mr. Burchett, Mr. Burlison, Mrs. Cammack, Mr. Cloud, Mr. Crane, Mr. Duncan, Mr. Gaetz, Mr. Good of Virginia, Mr. Gosar, Ms. Greene of Georgia, Ms. Hageman, Mr. Norman, Mr. Perry, Mr. Roy, Mr. Self, Mrs. Spartz, and Mr. Tiffany), H3327 [16MY] Cosponsors added, H3358 [17MY], H3486 [22MY] H.R. 8422 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to establish programs for the provision of mental health services to individuals affected by a major disaster, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BALINT (for herself and Mrs. González-Colón), H3327 [16MY] Cosponsors added, H3526 [23MY], H3543 [31MY], H3728 [11JN], H4064 [13JN] H.R. 8423 — A bill to amend the Older Americans Act of 1965 to establish a LGBTQI rural outreach grant program, and for other purposes; to the Committee on Education and the Workforce. By Ms. BONAMICI (for herself, Mr. Pocan, Ms. Davids of Kansas, Mr. Tonko, Ms. Schakowsky, Ms. Jackson Lee, Ms. Lee of California, Ms. Norton, Mr. Horsford, Ms. Garcia of Texas, Mr. Casten, and Ms. Jayapal), H3327 [16MY] Cosponsors added, H3358 [17MY], H3728 [11JN] H.R. 8424 — A bill to require the release to the public of all documents, reports, and other records relating to unidentified anomalous phenomena, and for other purposes; to the Committee on Oversight and Accountability. By Mr. BURCHETT (for himself, Mr. Moskowitz, Mrs. Luna, and Mr. Burlison), H3327 [16MY] H.R. 8425 — A bill to direct the Administrator of the Small Business Administration to revise a rule relating to language translation assistance with respect to certain needs assessments, and for other purposes; to the Committee on Small Business. By Ms. CARAVEO (for herself and Mr. Valadao), H3327 [16MY] Cosponsors added, H3526 [23MY] H.R. 8426 — A bill to secure the rights of public employees to organize, act concertedly, and bargain collectively, which safeguard the public interest and promote the free and unobstructed flow of commerce, and for other purposes; to the Committee on Education and the Workforce. By Mr. CARTWRIGHT (for himself, Mr. Fitzpatrick, Mr. Horsford, Mr. Pocan, Mr. Norcross, Mrs. Dingell, Mr. Allred, Mr. Bacon, Mr. Beyer, Ms. Blunt Rochester, Ms. Bonamici, Mr. Boyle of Pennsylvania, Ms. Brownley, Ms. Budzinski, Mr. Carbajal, Mr. Carson, Mr. Casar, Mrs. Chavez-DeRemer, Mrs. Cherfilus-McCormick, Mr. Cleaver, Mr. Cohen, Mr. Connolly, Ms. Craig, Mr. Davis of Illinois, Ms. DeLauro, Mr. Deluzio, Ms. Eshoo, Mr. Evans, Mr. Foster, Mr. Garamendi, Mr. García of Illinois, Mr. Robert Garcia of California, Mr. Goldman of New York, Mr. Gottheimer, Mrs. Hayes, Ms. Houlahan, Mr. Hoyer, Ms. Hoyle of Oregon, Mr. Ivey, Mr. Kildee, Mr. Krishnamoorthi, Mr. Landsman, Mr. Larsen of Washington, Mr. Lawler, Mr. Lynch, Mrs. McBath, Ms. McCollum, Mr. McGarvey, Mr. Molinaro, Mr. Moulton, Mr. Mr van, Mr. Mullin, Mr. Nadler, Ms. Norton, Ms. Omar, Mr. Panetta, Ms. Perez, Mr. Peters, Mr. Phillips, Ms. Pingree, Ms. Porter, Ms. Ross, Ms. Sánchez, Mr. Sarbanes, Ms. Scanlon, Ms. Schakowsky, Mr. Sherman, Ms. Sherrill, Ms. Slotkin, Ms. Stansbury, Ms. Stevens, Mr. Swalwell, Mr. Takano, Ms. Tokuda, Mr. Tonko, Mr. Torres of New York, Mr. Trone, Mr. Veasey, Ms. Velázquez, Ms. Wasserman Schultz, Mrs. Watson Coleman, Ms. Wild, Ms. Williams of Georgia, Ms. Wilson of Florida, Mr. Frost, Mr. Pascrell, and Mr. Thompson of Mississippi), H3327 [16MY] Cosponsors added, H3358 [17MY], H3400 [21MY], H3486 [22MY], H3526 [23MY], H3531 [24MY], H3535 [28MY], H3543 [31MY], H3682 [7JN], H3728 [11JN], H4110 [14JN], H4116 [18JN] H.R. 8427 — A bill to prohibit the importation, sale, manufacture, transfer, or possession of .50 caliber rifles, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CASTRO of Texas (for himself, Ms. Escobar, Mr. Frost, Mrs. Cherfilus-McCormick, Mr. Grijalva, Ms. Velázquez, Mr. McGovern, Ms. Lee of California, Ms. Wasserman Schultz, Mr. Bowman, Mr. Goldman of New York, Mr. Espaillat, Mrs. Ramirez, Ms. Norton, Ms. Schakowsky, Ms. Kamlager-Dove, Ms. Garcia of Texas, Mr. Takano, Mr. Kim of New Jersey, and Ms. Brownley), H3327 [16MY] Cosponsors added, H3657 [4JN], H3976 [12JN], H4110 [14JN] H.R. 8428 — A bill to amend the Oregon Resource Conservation Act of 1996 to reauthorize the Deschutes River Conservancy Working Group, and for other purposes; to the Committee on Natural Resources. By Mrs. CHAVEZ-DeREMER, H3328 [16MY] H.R. 8429 — A bill to amend the Omnibus Crime Control and Safe Streets Act of 1968 to authorize the use of Byrne-JAG grants for the purchase of disaster response and tactical vehicles; to the Committee on the Judiciary. By Ms. CRAIG, H3328 [16MY] H.R. 8430 — A bill to make certain adjustments pertaining to the Alternatives to Detention program, and for other purposes; to the Committee on the Judiciary. By Mr. DONALDS (for himself, Mr. Biggs, Mr. Pfluger, Mr. Clyde, Mr. Obernolte, Mr. Hunt, Mr. Higgins of Louisiana, Mr. Moore of Alabama, Mr. Nehls, Mr. Gosar, Mr. Timmons, Mrs. Miller of Illinois, Ms. Boebert, and Ms. Mace), H3328 [16MY] Cosponsors added, H3400 [21MY] H.R. 8431 — A bill to require the Secretary of Agriculture to provide regular updates to Livestock Indemnity Program payment rates to reflect market prices, and for other purposes; to the Committee on Agriculture. By Mr. FEENSTRA (for himself and Ms. Craig), H3328 [16MY] H.R. 8432 — A bill to codify Executive Order 13809, and for other purposes; to the Committee on the Judiciary. By Mr. GOOD of Virginia (for himself, Mr. Harris, and Mr. Moore of Alabama), H3328 [16MY] Cosponsors added, H3400 [21MY] H.R. 8433 — A bill to amend the Public Health Service Act to require the National Institutes of Health to select awardees based on merit, and for other purposes; to the Committee on Energy and Commerce. By Ms. HAGEMAN (for herself, Mr. Banks, and Mr. Burlison), H3328 [16MY] Cosponsors added, H3400 [21MY] H.R. 8434 — A bill to designate the facility of the United States Postal Service located at 107 North Hoyne Avenue in Fritch, Texas, as the ‘‘Chief Zeb Smith Post Office’’; to the Committee on Oversight and Accountability. By Mr. JACKSON of Texas (for himself, Mr. Crenshaw, Mr. Sessions, Mr. Ellzey, Mr. Cloud, Mr. Pfluger, Mr. Babin, Mr. Nehls, Mr. Allred, and Mr. Williams of Texas), H3328 [16MY] Cosponsors added, H3400 [21MY], H3486 [22MY], H3526 [23MY] H.R. 8435 — A bill to amend the Internal Revenue Code of 1986 to treat certain price protection payments as eligible rollover distributions, and for other purposes; to the Committee on Ways and Means. By Mr. KELLY of Pennsylvania (for himself and Mr. Blumenauer), H3328 [16MY] H.R. 8436 — A bill to amend the Federal Crop Insurance Act to modify a provision relating to quality loss adjustment coverage; to the Committee on Agriculture. By Ms. LETLOW, H3328 [16MY] H.R. 8437 — A bill to provide for congressional oversight of proposed changes to arms sales to Israel; to the Committee on Foreign Affairs, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. McCAUL (for himself, Mrs. Wagner, Mrs. Radewagen, Mr. Self, Mr. Lawler, Mr. Wilson of South Carolina, Mr. Kean of New Jersey, Mr. Stanton, Mr. Sherman, Mr. Owens, Mr. Fitzpatrick, Mr. Jackson of Texas, Mrs. Kiggans of Virginia, Mr. Nunn of Iowa, Mr. Reschenthaler, Mr. Bacon, Mr. Balderson, Ms. Manning, Mr. Mast, Mr. Fleischmann, Mr. Guest, Mr. Gimenez, Mr. Lamborn, Mr. Barr, Mr. Weber of Texas, Mr. Sessions, Mr. Smith of New Jersey, Mr. Garbarino, Mr. Gottheimer, Mr. Golden of Maine, Mr. Moskowitz, and Mrs. Miller of West Virginia), H3328 [16MY] Cosponsors added, H3358 [17MY], H3400 [21MY], H3526 [23MY], H3583 [3JN], H3657 [4JN], H3675 [5JN], H3682 [7JN], H4116 [18JN] H.R. 8438 — A bill to amend the Internal Revenue Code of 1986 to permit qualified distributions from section 529 plans for certain transportation and parking expenses; to the Committee on Ways and Means. By Ms. McCLELLAN (for herself and Ms. Sánchez), H3328 [16MY] H.R. 8439 — A bill to amend the Food and Nutrition Act of 2008 to modify household income to exclude income earned by a member who is 21 years of age or younger and who is an elementary or secondary school student; to the Committee on Agriculture. By Mr. MOLINARO, H3328 [16MY] H.R. 8440 — A bill to waive the statute of limitations for cases against the government related to the General Motors bailout that were filed on or before July 9, 2015, and for other purposes; to the Committee on the Judiciary. By Mr. MOORE of Alabama (for himself and Mr. Carter of Louisiana), H3328 [16MY] H.R. 8441 — A bill to prohibit the Secretary of Homeland Security from using Federal funds to establish the ICE Secure Docket Card program and to prohibit the use of documentation issued in connection with immigration proceedings to establish eligibility for Federal public benefits; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. NEHLS (for himself and Mr. Donalds), H3328 [16MY] H.R. 8442 — A bill to temporarily expand the supplemental nutrition assistance program income eligibility of households that include certain veterans; to the Committee on Agriculture. By Ms. PORTER (for herself and Mr. Valadao), H3328 [16MY] Cosponsors added, H3976 [12JN] H.R. 8443 — A bill to amend the Small Business Act to provide re-entry entrepreneurship counseling and training services for incarcerated individuals, and for other purposes; to the Committee on Small Business. By Ms. VELÁZQUEZ, H3328 [16MY] H.R. 8444 — A bill to amend the Public Health Service Act to direct the Secretary of Health and Human Services, acting through the Assistant Secretary for Mental Health and Substance Use, to establish grant programs to promote mental health in schools, and for other purposes; to the Committee on Energy and Commerce. By Mrs. NAPOLITANO (for herself, Ms. Balint, Ms. Norton, Mrs. Watson Coleman, Mr. Allred, Mr. Connolly, Ms. Jackson Lee, Mr. Soto, Mr. Krishnamoorthi, Mr. Torres of New York, Ms. Chu, Ms. Salinas, Ms. Porter, Mr. Gottheimer, Mrs. Ramirez, Ms. Kelly of Illinois, Ms. Stansbury, and Ms. Barragán), H3355 [17MY] H.R. 8445 — A bill to amend title 38, United States Code, and the Servicemembers Civil Relief Act to provide for the eligibility of United States citizens who serve in the Israeli Defense Forces for certain protections relating to such service; to the Committee on Veterans’ Affairs. By Mr. RESCHENTHALER (for himself and Mr. Miller of Ohio), H3356 [17MY] H.R. 8446 — A bill to amend the Energy Act of 2020 to include critical materials in the definition of critical mineral, and for other purposes; to the Committee on Natural Resources. By Mr. CISCOMANI (for himself, Mr. Newhouse, and Mr. Crane), H3356 [17MY] H.R. 8447 — A bill to direct the Secretary of Agriculture to establish centers of excellence for agricultural security research, extension, and education, and for other purposes; to the Committee on Agriculture. By Mr. BACON (for himself, Mr. Nunn of Iowa, and Mr. Carbajal), H3356 [17MY] H.R. 8448 — A bill to establish a pilot program to establish a pre-approval process for direct farm ownership loans made under subtitle A of the Consolidated Farm and Rural Development Act in order to streamline the application process and provide greater certainty to borrowers; to the Committee on Agriculture. By Mr. BACON (for himself and Mr. Nunn of Iowa), H3356 [17MY] H.R. 8449 — A bill to require the Secretary of Transportation to issue a rule requiring access to AM broadcast stations in motor vehicles, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BILIRAKIS (for himself and Mr. Pallone), H3356 [17MY] H.R. 8450 — A bill to direct the Secretary of the Interior to evaluate certain minerals for designation as critical minerals; to the Committee on Natural Resources. By Mrs. CAMMACK (for herself and Ms. Slotkin), H3356 [17MY] H.R. 8451 — A bill to establish a grant program for certain institutions of higher education to plan and implement projects for economic and community development in economically distressed communities, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. COSTA (for himself and Mr. Westerman), H3356 [17MY] H.R. 8452 — A bill to direct the Secretary of State to develop a strategy to obtain membership status for Taiwan in the International Criminal Police Organization, and for other purposes; to the Committee on Foreign Affairs. By Mr. GOODEN of Texas (for himself, Mr. Sherman, Mr. Ogles, Mr. Tiffany, Mr. Biggs, Mr. Babin, Mr. Weber of Texas, and Mr. Sessions), H3356 [17MY] Cosponsors added, H3682 [7JN] H.R. 8453 — A bill to require the Secretary of Agriculture to publish a report on the fertilizer industry, and for other purposes; to the Committee on Agriculture. By Mrs. HINSON (for herself, Ms. Budzinski, and Mr. Feenstra), H3356 [17MY] H.R. 8454 — A bill to amend title 10, United States Code, to add to matters covered by counseling in the Transition Assistance Program; to the Committee on Armed Services. By Ms. JACOBS, H3356 [17MY] H.R. 8455 — A bill to direct the Secretaries of the military departments concerned to conduct a feasibility study develop a plan to carry out a program to construct facilities of covered military housing and to submit to the Committees on Armed Services of the House of Representatives and the Senate a report on such study, and for other purposes; to the Committee on Armed Services. By Ms. JACOBS (for herself and Mrs. Kiggans of Virginia), H3356 [17MY] H.R. 8456 — A bill to require the Administrator of the Federal Emergency Management Agency and the Secretary of Housing and Urban Development to implement certain recommendations made by the Comptroller General with respect to disaster recovery, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. JACOBS, H3356 [17MY] H.R. 8457 — A bill to prevent the distribution of intimate visual depictions without consent; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. LUNA, H3356 [17MY] H.R. 8458 — A bill to amend title XVIII of the Social Security Act to expand access to psychological and behavioral services; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MALLIOTAKIS (for herself, Ms. Chu, Mr. Pfluger, and Ms. Schakowsky), H3356 [17MY] Cosponsors added, H3526 [23MY], H3728 [11JN] H.R. 8459 — A bill to amend the Justice for Victims of Trafficking Act of 2015 to require abortion providers to notify the National Human Trafficking Hotline of victims of trafficking, and for other purposes; to the Committee on the Judiciary. By Mr. MOORE of Alabama (for himself, Mr. Aderholt, Mr. Babin, Mr. Bacon, Mr. Crenshaw, Mr. Donalds, Mr. Guest, Mr. Lamborn, Mr. Mooney, Mr. Palmer, Mr. Rogers of Alabama, and Mr. Rosendale), H3356 [17MY] Cosponsors added, H3400 [21MY] H.R. 8460 — A bill to strengthen the Court Improvement Program to advance technology and modernizing the judicial child welfare system; to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOORE of Utah (for himself, Ms. Chu, and Mrs. Miller of West Virginia), H3356 [17MY] Cosponsors added, H3682 [7JN] H.R. 8461 — A bill to amend the Higher Education Act of 1965 to direct the Secretary of Education to carry out a program under which an institution of higher education may elect to cosign Federal student loans made to students attending the institution, and for other purposes; to the Committee on Education and the Workforce. By Mr. PERRY, H3356 [17MY] H.R. 8462 — A bill to amend the Help America Vote Act of 2002 to support State and local governments making a transition to ranked choice voting; to the Committee on House Administration. By Mr. PHILLIPS (for himself, Ms. Craig, Mr. Raskin, and Mr. Beyer), H3356 [17MY] H.R. 8463 — A bill to prohibit and establish penalties for the use of the identity of another, without authorization, to make available certain information, and for other purposes; to the Committee on Energy and Commerce. By Mr. SOTO, H3356 [17MY] H.R. 8464 — A bill to require the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, the Comptroller of the Currency, and the National Credit Union Administration Board to jointly submit a report on trends in the use of blockchain technology to tokenize traditional assets, and for other purposes; to the Committee on Financial Services. By Mr. TIMMONS (for himself and Mr. Torres of New York), H3356 [17MY] H.R. 8465 — A bill to amend title XXVII of the Public Health Service Act to increase health insurance access for individuals placing their newborns for adoption; to the Committee on Energy and Commerce. By Ms. VAN DUYNE, H3356 [17MY] H.R. 8466 — A bill to amend division N of the Consolidated Appropriations Act, 2021 to improve the Affordable Connectivity Program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Financial Services, Transportation and Infrastructure, Science, Space, and Technology, Natural Resources, Oversight and Accountability, Foreign Affairs, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WILLIAMS of New York, H3356 [17MY] Cosponsors added, H3400 [21MY], H3486 [22MY], H3526 [23MY], H3531 [24MY], H3535 [28MY], H3583 [3JN], H3682 [7JN], H3728 [11JN] H.R. 8467 — A bill to provide for the reform and continuation of agricultural and other programs of the Department of Agriculture through fiscal year 2029, and for other purposes; to the Committee on Agriculture. By Mr. THOMPSON of Pennsylvania, H3397 [21MY] H.R. 8468 — A bill to amend the Higher Education Act of 1965 to terminate the eligibility of certain individuals for student loan forgiveness, and for other purposes; to the Committee on Education and the Workforce. By Mr. YAKYM, H3397 [21MY] H.R. 8469 — A bill to establish in the Cybersecurity and Infrastructure Security Agency of the Department of Homeland Security a program to promote the cybersecurity field to disadvantaged communities, including older individuals, racial and ethnic minorities, people with disabilities, geographically diverse communities, socioeconomically diverse communities, women, individuals from nontraditional educational paths, individuals who are veterans, and individuals who were formerly incarcerated, and for other purposes; to the Committee on Homeland Security. By Ms. BROWN (for herself, Ms. Stevens, Ms. Adams, Mrs. Beatty, Ms. Brownley, Mr. Carson, Mr. Carter of Louisiana, Mrs. Cherfilus-McCormick, Mr. Clyburn, Ms. Crockett, Mr. Evans, Mrs. Foushee, Mrs. Hayes, Ms. Norton, Mr. Horsford, Mr. Jackson of Illinois, Mr. Larsen of Washington, Ms. Lee of California, Mr. Lieu, Mr. Lynch, Mr. McGovern, Ms. Moore of Wisconsin, Mr. Mr van, Ms. Kelly of Illinois, Ms. Plaskett, Mrs. Ramirez, Ms. Sewell, Mr. Thompson of Mississippi, Ms. Tokuda, Ms. Velázquez, Ms. Wasserman Schultz, Mrs. Watson Coleman, Ms. Williams of Georgia, and Mr. Bishop of Georgia), H3397 [21MY] Cosponsors added, H3583 [3JN] H.R. 8470 — A bill to authorize the Secretary of Health and Human Services to make awards to increase or improve access to comprehensive mental and behavioral health services for individuals exposed to violent encounters involving law enforcement personnel, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BUSH (for herself, Mr. Bowman, Mr. Carson, Mr. García of Illinois, Ms. Jackson Lee, Ms. Lee of Pennsylvania, Mrs. Ramirez, Ms. Tlaib, and Mrs. Watson Coleman), H3397 [21MY] Cosponsors added, H3682 [7JN] H.R. 8471 — A bill to support United States investment opportunities, strengthen bilateral collaboration in addressing criminal elements operating in the Brazilian Amazon, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CONNOLLY (for himself, Ms. Salazar, and Ms. Kamlager-Dove), H3397 [21MY] Cosponsors added, H3583 [3JN] H.R. 8472 — A bill to amend the Consolidated Farm and Rural Development Act to support the expansion of freight rail infrastructure to support the transport of agricultural inputs and products to farms, and for other purposes; to the Committee on Agriculture. By Mr. COURTNEY (for himself, Mr. Molinaro, and Mr. McGovern), H3397 [21MY] H.R. 8473 — A bill to direct the Secretary of the Army to submit to Congress a report in the event that the assessment of the Army force structure using the process known as ‘‘Total Army Analysis’’ does not include certain missions; to the Committee on Armed Services. By Mr. CRAWFORD (for himself and Mr. Austin Scott of Georgia), H3397 [21MY] Cosponsors added, H3526 [23MY] H.R. 8474 — A bill to make certain improvements to incentive pay for explosive ordnance disposal duty; to the Committee on Armed Services. By Mr. CRAWFORD (for himself and Mr. Kelly of Mississippi), H3397 [21MY] Cosponsors added, H3526 [23MY] H.R. 8475 — A bill to direct the Secretary of Defense to submit to Congress a report on the correlation between service in the Armed Forces conducting explosive ordnance disposal and post-traumatic stress disorder, traumatic brain injury, and suicide; to the Committee on Armed Services. By Mr. CRAWFORD, H3397 [21MY] Cosponsors added, H3526 [23MY], H3535 [28MY] H.R. 8476 — A bill to direct the Secretary of the Army to designate the Deputy Under Secretary of the Army as principal official responsible for explosive ordnance disposal; to the Committee on Armed Services. By Mr. CRAWFORD (for himself and Mr. Austin Scott of Georgia), H3397 [21MY] Cosponsors added, H3526 [23MY] H.R. 8477 — A bill to direct the Secretary of Homeland Security to develop a curriculum to train State, local, Tribal, territorial, and campus law enforcement agencies to identify, investigate, and report acts of organized retail crime, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. D’ESPOSITO (for himself and Mr. LaLota), H3397 [21MY] Cosponsors added, H3526 [23MY] H.R. 8478 — A bill to amend the Investor Protection and Securities Reform Act of 2010 to provide grants to States for enhanced protection of senior investors and senior policyholders, and for other purposes; to the Committee on Financial Services. By Mr. GOTTHEIMER (for himself and Mr. Nunn of Iowa), H3397 [21MY] Cosponsors added, H3526 [23MY], H3657 [4JN] H.R. 8479 — A bill to establish an Interagency Council on Service to promote and strengthen opportunities for military service, national service, and public service for all people of the United States, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Armed Services, Foreign Affairs, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. HOULAHAN (for herself, Mr. Panetta, Mr. Bergman, and Mr. Waltz), H3397 [21MY] H.R. 8480 — A bill to require agencies to update mortgage underwriting programs, guidelines, standards, and systems to require lenders to consider, in the mortgage credit evaluation process, any amounts a borrower has in any brokerage account associated with a cryptocurrency exchange; to the Committee on Financial Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MACE (for herself and Mr. Khanna), H3397 [21MY] H.R. 8481 — A bill to amend title 38, United States Code, to establish an extended deadline for the submission of applications regarding emergency treatment furnished in non-Department of Veterans Affairs medical facilities, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. MAST (for himself, Mr. Bilirakis, and Mr. Gosar), H3397 [21MY] H.R. 8482 — A bill to deter conflict in the Taiwan Strait by establishing conditions for suspending normal trade relations with the People’s Republic of China, and for other purposes; to the Committee on Ways and Means, and in addition to the Committees on Foreign Affairs, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOORE of Utah, H3397 [21MY] H.R. 8483 — A bill to amend the Financial Services and General Government Appropriations Act, 2024, to make a technical correction to the Federal payment made in such Act to the District of Columbia Public Defender Service; to the Committee on Oversight and Accountability. By Ms. NORTON, H3397 [21MY] Cosponsors added, H3486 [22MY] H.R. 8484 — A bill to amend the Buy Indian Act to include the Secretary of Agriculture, and for other purposes; to the Committee on Natural Resources. By Mrs. PELTOLA (for herself and Ms. Davids of Kansas), H3397 [21MY] H.R. 8485 — A bill to amend title 5, United States Code, to prohibit the President, Vice President, Members of Congress, and other senior Executive branch personnel from accepting any foreign emoluments, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on House Administration, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. RASKIN (for himself, Ms. Ocasio-Cortez, Mr. Connolly, Mr. Khanna, Mr. Mfume, Ms. Bush, Ms. Stansbury, Mr. Robert Garcia of California, Mr. Frost, Mr. Casar, Ms. Crockett, Mr. Goldman of New York, Ms. Tlaib, and Ms. Pressley), H3397 [21MY] Cosponsors added, H3486 [22MY], H3657 [4JN] H.R. 8486 — A bill to direct the Secretary of Transportation, in coordination with the Secretary of Housing and Urban Development, to establish a thriving communities grant program; to the Committee on Transportation and Infrastructure. By Mrs. TORRES of California, H3397 [21MY] H.R. 8487 — A bill to amend title II of the Social Security Act to exempt widows and widowers of police officers, firefighters, and correctional officers from the government pension offset; to the Committee on Ways and Means. By Mr. VAN DREW (for himself and Mr. Bacon), H3397 [21MY] Cosponsors added, H3543 [31MY] H.R. 8488 — A bill to amend the Food Security Act of 1985 to expand the provision of farmer-led technical assistance, and for other purposes; to the Committee on Agriculture. By Mr. VASQUEZ, H3397 [21MY] H.R. 8489 — A bill to amend title 5, United States Code, to require additional ethics disclosures for the President, Vice President, and their family members, and for other purposes; to the Committee on Oversight and Accountability. By Mr. COMER (for himself and Ms. Porter), H3483 [22MY] H.R. 8490 — A bill to establish the Office of Social Connection Policy, to establish a national strategy on social connection, and for other purposes; to the Committee on Energy and Commerce. By Mr. BERA, H3483 [22MY] H.R. 8491 — A bill to amend the Mineral Leasing Act to make certain improvements in the laws relating to coal royalties, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Energy and Commerce, Financial Services, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARTWRIGHT (for himself, Mr. Huffman, and Mr. Moulton), H3483 [22MY] H.R. 8492 — A bill to prohibit wildlife killing contests on public lands, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. COHEN (for himself, Mr. Blumenauer, Ms. Bush, Mr. Connolly, Ms. DeGette, Mr. Doggett, Mr. Espaillat, Mr. Grijalva, Mr. Huffman, Mr. Lieu, Ms. McCollum, Ms. Meng, Mr. Nadler, Ms. Porter, Ms. Stansbury, Ms. Titus, and Ms. Tlaib), H3483 [22MY] Cosponsors added, H3543 [31MY] H.R. 8493 — A bill to establish the Task Force to Stop Price Gouging, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Agriculture, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CRAIG, H3483 [22MY] H.R. 8494 — A bill to provide that certain local parks are eligible for E-Rate support, to provide that local parks are eligible for the loan, lease, or transfer of certain excess research equipment, and to direct the Secretary of Labor to carry out a program to make grants for conducting technology training programs in local parks, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on Energy and Commerce, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DAVIS of Illinois, H3483 [22MY] H.R. 8495 — A bill to ensure electric vehicle companies do not use child or slave labor in the manufacture of, or sourcing of materials for, electric vehicles; to the Committee on Oversight and Accountability, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. DUARTE (for himself, Mr. Van Orden, and Mr. Owens), H3483 [22MY] H.R. 8496 — A bill to amend the Immigration and Nationality Act with respect to the definition of protection determination and protection merits interview; to the Committee on the Judiciary. By Mr. GALLEGO, H3483 [22MY] H.R. 8497 — A bill to provide the Secretary of Homeland Security certain direct hiring authorities; to the Committee on Homeland Security, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GALLEGO, H3483 [22MY] H.R. 8498 — A bill to authorize funding for necessary expenses for the rehabilitation, modernization, and construction of facilities and infrastructure at the United States Merchant Marine Academy; to the Committee on Armed Services. By Mr. GARBARINO (for himself, Mr. Suozzi, Mr. Valadao, Mrs. Kiggans of Virginia, Mr. LaLota, Mr. D’Esposito, Ms. Malliotakis, Mr. Van Drew, Mr. Fitzpatrick, Mr. Lawler, and Mr. Molinaro), H3483 [22MY] H.R. 8499 — A bill to amend the Help America Vote Act of 2002 to establish requirements for voting by absentee ballot in elections for Federal office, and for other purposes; to the Committee on House Administration. By Mr. GROTHMAN, H3483 [22MY] H.R. 8500 — A bill to require the Secretary of Housing and Urban Development to collect and make publicly available data on properties receiving an allocation of credit under the low-income housing tax credit, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HORSFORD (for himself and Mr. Cleaver), H3483 [22MY] H.R. 8501 — A bill to prohibit the issuance of licenses for the exportation of certain defense articles to the United Arab Emirates, and for other purposes; to the Committee on Foreign Affairs. By Ms. JACOBS (for herself, Mr. Castro of Texas, Mr. McGovern, Ms. Lee of California, Mr. Jackson of Illinois, Mrs. Cherfilus-McCormick, Ms. Kamlager-Dove, and Mr. Kildee), H3483 [22MY] Cosponsors added, H3583 [3JN], H3657 [4JN], H3728 [11JN], H3976 [12JN] H.R. 8502 — A bill to provide protections for children in immigration custody, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. KAMLAGER-DOVE (for herself, Ms. Barragán, Mr. Johnson of Georgia, Ms. Norton, Mr. Espaillat, Mrs. Cherfilus-McCormick, Ms. Jacobs, and Mr. McGovern), H3483 [22MY] Cosponsors added, H4064 [13JN] H.R. 8503 — A bill to provide States with support to establish integrated care programs for individuals who are dually eligible for Medicare and Medicaid, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KELLY of Pennsylvania (for himself and Mr. Bera), H3483 [22MY] Cosponsors added, H4110 [14JN] H.R. 8504 — A bill to amend the Internal Revenue Code of 1986 to establish the critical supply chains reshoring investment tax credit; to the Committee on Ways and Means. By Ms. MALLIOTAKIS (for herself, Mr. Pascrell, Mr. Moylan, Mr. Bilirakis, Mr. Lawler, Ms. Velázquez, and Mr. Kelly of Pennsylvania), H3483 [22MY] Cosponsors added, H3657 [4JN] H.R. 8505 — A bill to amend title 49, United States Code, to expand the authority of the Administrator of the Federal Motor Carrier Safety Administration to assess penalties for violations of laws and regulations relating to the shipping of household goods, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. NORTON (for herself and Mr. Ezell), H3483 [22MY] Cosponsors added, H3682 [7JN] H.R. 8506 — A bill to amend the Internal Revenue Code of 1986 to encourage domestic insourcing and discourage foreign outsourcing; to the Committee on Ways and Means. By Mr. PASCRELL (for himself, Mr. Deluzio, and Mrs. Sykes), H3483 [22MY] H.R. 8507 — A bill to provide for the designation of areas within which fishing activities carried out using bottom trawls may be carried out; to the Committee on Natural Resources. By Mrs. PELTOLA, H3483 [22MY] H.R. 8508 — A bill to amend the Magnuson-Stevens Fishery Conservation and Management Act to reauthorize the bycatch reduction engineering program and establish the Bycatch Mitigation Assistance Fund; to the Committee on Natural Resources. By Mrs. PELTOLA (for herself, Mr. Graves of Louisiana, and Mr. Huffman), H3483 [22MY] H.R. 8509 — A bill to reform pattern or practice investigations conducted by the Department of Justice, and for other purposes; to the Committee on the Judiciary. By Ms. STRICKLAND (for herself, Mr. Carson, and Mr. Torres of New York), H3483 [22MY] Cosponsors added, H4116 [18JN] H.R. 8510 — A bill to amend the Food Security Act of 1985 to encourage the use of native vegetation, and for other purposes; to the Committee on Agriculture. By Ms. TOKUDA, H3483 [22MY] H.R. 8511 — A bill to direct the Secretary of Defense to submit to Congress a report on transitioning military acquired credentials to the civilian workforce; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. TORRES of California, H3483 [22MY] H.R. 8512 — A bill to authorize appropriations for fiscal year 2025 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System, and for other purposes; to the Committee on Intelligence (Permanent Select). By Mr. TURNER, H3483 [22MY] H.R. 8513 — A bill to direct the Secretary of Agriculture to carry out a demonstration project to allow Tribal entities to purchase agricultural commodities under the commodity supplemental food program, and for other purposes; to the Committee on Agriculture. By Mr. VASQUEZ, H3483 [22MY] H.R. 8514 — A bill to amend title 38, United States Code, to provide for an annual increase in stipend for books, supplies, equipment, and other educational costs under Post-9/11 Educational Assistance Program of Department of Veterans Affairs; to the Committee on Veterans’ Affairs. By Mr. VASQUEZ, H3483 [22MY] H.R. 8515 — A bill to promote and recruit the United States maritime industry workforce, and for other purposes; to the Committee on Armed Services, and in addition to the Committees on Science, Space, and Technology, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WALTZ, H3484 [22MY] H.R. 8516 — A bill to designate the facility of the United States Postal Service located at 840 Front Street in Casselton, North Dakota, as the ‘‘Commander Delbert Austin Olson Post Office’’; to the Committee on Oversight and Accountability. By Mr. ARMSTRONG, H3520 [23MY] H.R. 8517 — A bill to direct the Secretary of the Interior to convey certain Federal land in Arizona to La Paz County, Arizona, and for other purposes; to the Committee on Natural Resources. By Mr. GOSAR, H3520 [23MY] H.R. 8518 — A bill to require that the prevailing wage utilized for purposes of subchapter IV of chapter 31 of title 40, United States Code (commonly referred to as the Davis-Bacon Act), be determined by the Bureau of Labor Statistics; to the Committee on Education and the Workforce. By Mr. GOSAR (for himself, Mr. Sessions, Mr. Self, Mr. Palmer, Mr. DesJarlais, Mrs. Lesko, and Mr. Norman), H3520 [23MY] H.R. 8519 — A bill to prohibit the obligation or expenditure of Federal funds for disinformation research grants, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. MASSIE (for himself, Mr. Biggs, Mr. Bishop of North Carolina, Ms. Boebert, Mr. Burlison, Mr. Davidson, Mr. Finstad, Ms. Greene of Georgia, Mr. Gosar, Mrs. Luna, Mr. Ogles, Mr. Perry, Mr. Roy, and Mr. Weber of Texas), H3520 [23MY] H.R. 8520 — A bill to amend the Public Health Service Act to require the Secretary of Health and Human Services, acting through the Director of the Centers for Disease Control and Prevention, to implement the Climate Ready Tribes Initiative; to the Committee on Energy and Commerce. By Ms. UNDERWOOD (for herself, Mr. Huffman, and Mr. Carbajal), H3520 [23MY] Cosponsors added, H3583 [3JN] H.R. 8521 — A bill to award a Congressional Gold Medal to Joan Trumpauer Mulholland in recognition of her unique and substantial contributions to American life through her life-long commitment to social justice and equality for all citizens, exhibited both through direct action, at great personal risk, and through ongoing educational activities; to the Committee on Financial Services. By Mr. BEYER (for himself, Mr. Thompson of Mississippi, Mr. Espaillat, Ms. Williams of Georgia, Mrs. Watson Coleman, Ms. Clarke of New York, Mrs. Foushee, Ms. Wexton, Mr. Bishop of Georgia, Mrs. Beatty, Mr. Johnson of Georgia, Ms. Norton, Mr. Connolly, Mr. Horsford, Mr. David Scott of Georgia, Mr. Meeks, Mr. Clyburn, and Mr. Scott of Virginia), H3520 [23MY] Cosponsors added, H3531 [24MY], H3543 [31MY], H3583 [3JN], H3682 [7JN], H3728 [11JN], H3976 [12JN], H4064 [13JN] H.R. 8522 — A bill to improve connections between the Department of Agriculture and national and homeland security agencies, and for other purposes; to the Committee on Agriculture. By Mrs. BICE (for herself and Mr. Khanna), H3520 [23MY] H.R. 8523 — A bill to require Transmission Organizations to allow bids from aggregators of certain retail customers, and for other purposes; to the Committee on Energy and Commerce. By Mr. CASTEN (for himself, Mr. Levin, Ms. Bonamici, Mr. Krishnamoorthi, and Mr. Tonko), H3520 [23MY] H.R. 8524 — A bill to effectively staff the high-need public elementary schools and secondary schools of the United States with school-based mental health services providers; to the Committee on Education and the Workforce. By Ms. CLARK of Massachusetts (for herself, Mrs. Hayes, Mr. Lieu, Ms. Sánchez, and Ms. Underwood), H3520 [23MY] Cosponsors added, H3675 [5JN], H3728 [11JN] H.R. 8525 — A bill to hold law enforcement accountable for misconduct in court, improve transparency through data collection, and reform police training and policies; to the Committee on the Judiciary, and in addition to the Committees on Armed Services, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. JACKSON LEE (for herself, Mr. Nadler, Mr. Lieu, Mr. Neguse, Ms. Pelosi, Mr. Hoyer, Mr. Clyburn, Ms. Lofgren, Mr. Cohen, Mr. Johnson of Georgia, Mr. Schiff, Mr. Correa, Mr. Swalwell, Ms. Jayapal, Ms. Scanlon, Mrs. McBath, Ms. Dean of Pennsylvania, Ms. Escobar, Ms. Ross, Mr. Ivey, Ms. Balint, Ms. Adams, Mr. Allred, Mr. Amo, Ms. Barragán, Mrs. Beatty, Mr. Bera, Mr. Beyer, Mr. Bishop of Georgia, Mr. Blumenauer, Ms. Blunt Rochester, Ms. Bonamici, Mr. Bowman, Ms. Brown, Ms. Brownley, Mr. Cárdenas, Mr. Carson, Mr. Carter of Louisiana, Mr. Cartwright, Mr. Casar, Mr. Casten, Ms. Castor of Florida, Mr. Castro of Texas, Mrs. Cherfilus-McCormick, Ms. Chu, Ms. Clarke of New York, Mr. Cleaver, Mr. Connolly, Mr. Costa, Ms. Crockett, Mr. Crow, Mr. Davis of Illinois, Ms. DeGette, Ms. DeLauro, Ms. DelBene, Mr. Deluzio, Mr. DeSaulnier, Mrs. Dingell, Mr. Doggett, Ms. Eshoo, Mr. Espaillat, Mr. Evans, Mr. Foster, Mrs. Foushee, Ms. Lois Frankel of Florida, Mr. Frost, Mr. Garamendi, Mr. Robert Garcia of California, Mr. García of Illinois, Ms. Garcia of Texas, Mr. Gomez, Mr. Green of Texas, Mr. Grijalva, Mrs. Hayes, Ms. Houlahan, Mr. Jackson of Illinois, Ms. Jacobs, Ms. Kamlager-Dove, Mr. Keating, Ms. Kelly of Illinois, Mr. Khanna, Mr. Kildee, Mr. Kilmer, Mr. Kim of New Jersey, Mr. Krishnamoorthi, Ms. Kuster, Mr. Larson of Connecticut, Ms. Lee of California, Mr. Lynch, Ms. Manning, Ms. Matsui, Ms. McClellan, Ms. McCollum, Mr. McGarvey, Mr. McGovern, Mr. Meeks, Mr. Mfume, Ms. Moore of Wisconsin, Mr. Morelle, Mr. Moulton, Mr. Mullin, Mrs. Napolitano, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Mr. Panetta, Mr. Peters, Ms. Pingree, Ms. Plaskett, Mr. Pocan, Ms. Porter, Ms. Pressley, Mr. Quigley, Mrs. Ramirez, Mr. Raskin, Mr. Ruiz, Mr. Ruppersberger, Mr. Sablan, Ms. Sánchez, Mr. Sarbanes, Ms. Schakowsky, Mr. Schneider, Mr. David Scott of Georgia, Mr. Scott of Virginia, Ms. Sewell, Mr. Sherman, Mr. Smith of Washington, Mr. Soto, Ms. Spanberger, Ms. Stevens, Ms. Strickland, Mr. Takano, Mr. Thanedar, Mr. Thompson of Mississippi, Ms. Tlaib, Ms. Tokuda, Mr. Tonko, Mr. Torres of New York, Mrs. Trahan, Mr. Trone, Ms. Underwood, Mr. Vargas, Mr. Veasey, Ms. Velázquez, Ms. Wasserman Schultz, Ms. Waters, Mrs. Watson Coleman, Ms. Wexton, Ms. Williams of Georgia, and Ms. Wilson of Florida), H3520 [23MY] Cosponsors added, H3531 [24MY], H3543 [31MY], H3583 [3JN], H3657 [4JN], H4064 [13JN] H.R. 8526 — A bill to amend the Elementary and Secondary Education Act of 1965 to provide criteria for use of Federal funds to support trauma-informed practices in schools, and for other purposes; to the Committee on Education and the Workforce. By Ms. CLARK of Massachusetts (for herself, Mr. Fitzpatrick, Mr. Quigley, and Ms. Salinas), H3521 [23MY] Cosponsors added, H3675 [5JN] H.R. 8527 — A bill to provide for the establishment of a Climate Justice Working Group to help guide the Nation’s just and equitable transition towards a clean, climate-resilient, zero-emission economy, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CLARKE of New York (for herself, Ms. Barragán, Ms. Moore of Wisconsin, Ms. Velázquez, Ms. Meng, Mr. Jackson of Illinois, Ms. Blunt Rochester, Mr. Huffman, Mr. Espaillat, Ms. Matsui, and Mr. Goldman of New York), H3521 [23MY] Cosponsors added, H3976 [12JN] H.R. 8528 — A bill to increase the criminal penalties for assaulting a Bureau of Prisons correctional officer; to the Committee on the Judiciary. By Mr. D’ESPOSITO, H3521 [23MY] H.R. 8529 — A bill to authorize assistance to train and retain obstetrician-gynecologists and sub-specialists in urogynecology and to help improve the quality of care to meet the health care needs of women in least developed countries, and for other purposes; to the Committee on Foreign Affairs. By Ms. DeLAURO, H3521 [23MY] H.R. 8530 — A bill to require Facility Security Committees to respond to security recommendations issued by the Federal Protective Service relating to facility security, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. EZELL, H3521 [23MY] H.R. 8531 — A bill to require the Securities and Exchange Commission to promulgate regulations relating to the disclosure of certain commercial data, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FOSTER, H3521 [23MY] H.R. 8532 — A bill to identify and address barriers to coverage of remote physiologic devices under State Medicaid programs to improve maternal and child health outcomes for pregnant and postpartum women; to the Committee on Energy and Commerce. By Ms. LOIS FRANKEL of Florida (for herself, Ms. Salazar, Ms. Castor of Florida, and Ms. Letlow), H3521 [23MY] H.R. 8533 — A bill to require the Administrator of the Federal Aviation Administration shall update the regulations to issue regulations to phase out the use of bleed air systems in certain aircraft, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. FROST (for himself, Mr. Garamendi, Mr. Lawler, Ms. Norton, Ms. Barragán, Mr. Robert Garcia of California, Ms. Lee of Pennsylvania, Mr. Jackson of Illinois, Mr. Lieu, Mrs. Watson Coleman, Mr. García of Illinois, Mr. Deluzio, Mr. Soto, and Mr. Johnson of Georgia), H3521 [23MY] Cosponsors added, H3531 [24MY], H3543 [31MY], H3682 [7JN] H.R. 8534 — A bill to prohibit a student athlete from being considered an employee of an institution, a conference, or an association based on participation in certain intercollegiate athletics; to the Committee on Education and the Workforce. By Mr. GOOD of Virginia (for himself, Ms. Foxx, Mr. Owens, Mr. Burlison, Mr. Ogles, Mr. Walberg, Mr. Allen, Mr. Kelly of Pennsylvania, Mr. LaMalfa, Mrs. Miller of Illinois, and Mr. Aderholt), H3521 [23MY] H.R. 8535 — A bill to establish the Benjamin Harrison National Recreation Area and Wilderness in the State of Indiana, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. HOUCHIN, H3521 [23MY] H.R. 8536 — A bill to establish the Office of the Ombudsperson for Immigrant Children in Immigration Custody, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. JAYAPAL (for herself, Mr. Nadler, Ms. Norton, Ms. Omar, Mr. Goldman of New York, Mr. Jackson of Illinois, Mr. Castro of Texas, Mrs. Ramirez, Ms. Barragán, Mr. McGovern, Mrs. Hayes, Ms. Jackson Lee, Ms. Lee of California, Ms. Balint, Ms. Lofgren, Ms. Scanlon, and Ms. Tlaib), H3521 [23MY] H.R. 8537 — A bill to require a study on public health impacts as a consequence of the February 3, 2023, train derailment in East Palestine, Ohio; to the Committee on Energy and Commerce. By Mr. JOYCE of Ohio (for himself and Ms. Kaptur), H3521 [23MY] Cosponsors added, H3682 [7JN] H.R. 8538 — A bill to establish an interagency committee to coordinate activities of the Federal Government relating to biotechnology oversight, and for other purposes; to the Committee on Agriculture. By Mr. KHANNA (for himself and Mrs. Bice), H3521 [23MY] H.R. 8539 — A bill to establish the Office of Biotechnology Policy in the Department of Agriculture, and for other purposes; to the Committee on Agriculture. By Mr. KHANNA (for himself and Mrs. Bice), H3521 [23MY] H.R. 8540 — A bill to amend the Internal Revenue Code of 1986 to enhance the employer-provided child care credit; to the Committee on Ways and Means. By Mr. KUSTOFF (for himself, Mr. Schneider, Ms. Tenney, and Ms. Sewell), H3521 [23MY] Cosponsors added, H3583 [3JN] H.R. 8541 — A bill to amend the Wild Free-Roaming Horses and Burros Act to provide for criminal penalties for acquiring a wild free-roaming horse or burro with the intention of transferring such animal for processing into commercial products, and for other purposes; to the Committee on Natural Resources. By Mrs. LUNA, H3521 [23MY] Cosponsors added, H3583 [3JN] H.R. 8542 — A bill to award a Congressional Gold Medal to Dr. Joseph B. Kirsner, in recognition of his service to the United States during World War II and his contributions to the medical field, particularly gastroenterology; to the Committee on Financial Services. By Mr. MAST, H3521 [23MY] Cosponsors added, H3535 [28MY] H.R. 8543 — A bill to amend the Social Security Act and the Public Health Service Act to permanently authorize certified community behavioral health clinics, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MATSUI (for herself, Mr. Bucshon, Ms. Craig, Mr. Molinaro, and Mr. Tonko), H3521 [23MY] Cosponsors added, H3682 [7JN], H3728 [11JN], H4064 [13JN] H.R. 8544 — A bill to require original equipment manufacturers of digital electronic equipment to make available certain documentation, diagnostic, and repair information to independent repair providers, and for other purposes; to the Committee on Energy and Commerce. By Mr. MORELLE (for himself and Ms. Perez), H3521 [23MY] Cosponsors added, H4064 [13JN] H.R. 8545 — A bill to amend the Camp Lejeune Justice Act of 2022 to make technical corrections; to the Committee on the Judiciary. By Mr. MURPHY (for himself, Ms. Ross, Ms. Manning, Mr. Davis of North Carolina, Mr. Jackson of North Carolina, Mr. Rouzer, Mr. Hudson, Ms. Lee of Florida, Mr. McHenry, Mr. Edwards, and Mr. Hunt), H3521 [23MY] Cosponsors added, H4064 [13JN], H4116 [18JN] H.R. 8546 — A bill to require the Commissioner of the Social Security Administration to take certain actions to improve the processing of claims and appeals for disability insurance benefits and supplemental security income, and for other purposes; to the Committee on Ways and Means. By Mr. NEGUSE, H3522 [23MY] H.R. 8547 — A bill to direct the Secretary of Housing and Urban Development to establish a universal design standards certification system and to establish a refundable tax credit for individuals and groups that construct or renovate buildings and residences, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. NEGUSE, H3522 [23MY] Cosponsors added, H3583 [3JN] H.R. 8548 — A bill to remove aliens who fail to comply with a release order, and for other purposes; to the Committee on the Judiciary. By Mr. NEHLS, H3522 [23MY] H.R. 8549 — A bill to prohibit any person convicted of an unlawful activity on or after October 7, 2023, on a college campus from being eligible for public service loan forgiveness; to the Committee on Education and the Workforce. By Mr. OGLES (for himself and Mr. Bilirakis), H3522 [23MY] H.R. 8550 — A bill to provide for the prohibition on the use of United States passports for travel to, in, or through the Turks and Caicos Islands; to the Committee on Foreign Affairs. By Mr. OGLES (for himself and Mr. Donalds), H3522 [23MY] H.R. 8551 — A bill to require the Director of National Intelligence to prepare and make available a report on the wealth and corrupt activities of the leadership of the Chinese Communist Party, and for other purposes; to the Committee on Intelligence (Permanent Select). By Mr. OGLES (for himself, Mr. Donalds, Mr. Perry, Mr. Moore of Alabama, Mr. Tiffany, Mr. Lawler, Mr. Bishop of North Carolina, Ms. Van Duyne, Mr. LaMalfa, Mr. Wilson of South Carolina, Mr. Burlison, and Mr. McCormick), H3522 [23MY] Cosponsors added, H3728 [11JN] H.R. 8552 — A bill to amend the Federal Election Campaign Act of 1971 to prohibit criminal corporations from making disbursements of funds in connection with a campaign for election for Federal, State, or local office; to the Committee on House Administration. By Ms. OMAR (for herself, Ms. Schakowsky, Ms. Tlaib, and Ms. Pressley), H3522 [23MY] H.R. 8553 — A bill to amend the Foreign Agents Registration Act of 1938 to establish a separate unit within the Department of Justice for the investigation and enforcement of such Act, to provide the Attorney General with the authority to impose civil money penalties for violations of such Act, and to require agents of foreign principals who are registered under such Act to disclose transactions involving things of financial value conferred on officeholders; to the Committee on the Judiciary. By Ms. OMAR, H3522 [23MY] H.R. 8554 — A bill to eliminate certain subsidies for fossil-fuel production; to the Committee on Ways and Means, and in addition to the Committees on Natural Resources, Transportation and Infrastructure, Financial Services, Science, Space, and Technology, Agriculture, Energy and Commerce, Foreign Affairs, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. OMAR (for herself, Ms. Barragán, Mr. Bowman, Ms. Bush, Mr. Carson, Mr. Cleaver, Mr. Cohen, Mr. Espaillat, Mr. Frost, Mr. Robert Garcia of California, Mr. Grijalva, Mr. Jackson of Illinois, Ms. Jayapal, Ms. Kamlager-Dove, Mr. Khanna, Ms. Lee of California, Ms. McCollum, Ms. Norton, Ms. Pingree, Ms. Pressley, Mrs. Ramirez, Mr. Raskin, Ms. Schakowsky, Mr. Schiff, Mr. Takano, Ms. Tlaib, Mr. Torres of New York, and Mrs. Watson Coleman), H3522 [23MY] Cosponsors added, H3682 [7JN] H.R. 8555 — A bill to amend the Child Abuse Prevention and Treatment Act to provide for better protections for children raised in kinship families outside of the foster care system; to the Committee on Education and the Workforce. By Ms. SCANLON (for herself and Mr. Thompson of Pennsylvania), H3522 [23MY] H.R. 8556 — A bill to amend section 254 of the Communications Act of 1934 to ensure that certain telecommunications assistance available to assist school buses is preserved consistent with the Declaratory Ruling in the matter of Modernizing the E-Rate Program for Schools and Libraries adopted by the Federal Communications Commission on October 19, 2023 (FCC 23-84; WC Docket No. 13-184), and for other purposes; to the Committee on Energy and Commerce. By Mr. SCHIFF (for himself, Ms. Norton, Mrs. Napolitano, Ms. Sánchez, Mr. Robert Garcia of California, Mr. McGovern, and Ms. Stansbury), H3522 [23MY] H.R. 8557 — A bill to direct the Secretary of the Interior and the Secretary of Agriculture to encourage and expand the use of prescribed fire on land managed by the Department of the Interior or the Forest Service, with an emphasis on units of the National Forest System in the western United States, to acknowledge and support the long-standing use of cultural burning by Tribes and Indigenous practitioners, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, Oversight and Accountability, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SCHRIER (for herself and Mr. Valadao), H3522 [23MY] H.R. 8558 — A bill to give Presidential Proclamation 9645 the full force and effect of law; to the Committee on the Judiciary. By Mr. SELF, H3522 [23MY] H.R. 8559 — A bill to amend the Internal Revenue Code of 1986 to protect small businesses from unemployment insurance premium increases by reason of unrepaid State advances; to the Committee on Ways and Means. By Mrs. STEEL (for herself and Ms. Tenney), H3522 [23MY] Cosponsors added, H3583 [3JN] H.R. 8560 — A bill to amend title 38, United States Code, and the United States Housing Act of 1937, to make certain improvements to the supported housing program for veterans commonly known as ‘‘HUD-VASH’’; to the Committee on Financial Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TAKANO (for himself, Ms. Waters, and Mr. Levin), H3522 [23MY] Cosponsors added, H3728 [11JN], H4110 [14JN], H4116 [18JN] H.R. 8561 — A bill to amend title XVIII of the Social Security Act to address significant under projection of MA local area growth due to wage index reclassification; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TENNEY (for herself, Mr. Tonko, Ms. Stefanik, Mr. Williams of New York, Mr. Morelle, Mr. Langworthy, and Mr. Molinaro), H3522 [23MY] H.R. 8562 — A bill to amend title 38, United States Code, to improve the provision of direct housing loans and medical care from the Department of Veterans Affairs for Native Hawaiians; to the Committee on Veterans’ Affairs. By Ms. TOKUDA (for herself and Mr. Case), H3522 [23MY] H.R. 8563 — A bill to amend title XVIII of the Social Security Act to establish a floor on the work geographic index for physicians’ services furnished in Hawaii; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TOKUDA (for herself and Mr. Case), H3522 [23MY] H.R. 8564 — A bill to require certain elements of the intelligence community to submit to the congressional intelligence committees a report with respect to biotechnology threats, and for other purposes; to the Committee on Intelligence (Permanent Select). By Mr. WENSTRUP (for himself and Mr. Krishnamoorthi), H3522 [23MY] Cosponsors added, H3583 [3JN] H.R. 8565 — A bill to advance research, promote awareness, and provide patient support with respect to endometriosis, and for other purposes; to the Committee on Energy and Commerce. By Ms. WILLIAMS of Georgia (for herself, Ms. Underwood, Mrs. González-Colón, Ms. Adams, and Mrs. Sykes), H3522 [23MY] H.R. 8566 — A bill to require reports and certain actions with respect to the Republic of Georgia; to the Committee on Foreign Affairs, and in addition to the Committees on Intelligence (Permanent Select), Ways and Means, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WILSON of South Carolina (for himself, Mr. Cohen, Mr. Hudson, and Mr. Veasey), H3522 [23MY] Cosponsors added, H3675 [5JN], H3682 [7JN] H.R. 8567 — A bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to regularly promote programs under chapter 31 of such title; to the Committee on Veterans’ Affairs. By Mr. ALLRED (for himself, Mr. Donalds, Ms. Manning, and Mr. Costa), H3530 [24MY] H.R. 8568 — A bill to award a Congressional Gold Medal, collectively, to the First Rhode Island Regiment, in recognition of their dedicated service during the Revolutionary War; to the Committee on Financial Services. By Mr. AMO (for himself, Mr. Magaziner, Mr. Carson, Mr. Costa, Mr. Green of Texas, Mr. Jackson of Illinois, Ms. Kelly of Illinois, Mr. Khanna, Mr. Lawler, Mr. Lieu, Ms. McCollum, Mr. McGovern, Mr. Moulton, Ms. Norton, Mrs. Watson Coleman, Ms. Williams of Georgia, Mr. Neal, Mr. Blumenauer, Ms. Chu, and Ms. Schakowsky), H3530 [24MY] Cosponsors added, H3535 [28MY], H3543 [31MY], H3728 [11JN], H4116 [18JN] H.R. 8569 — A bill to prohibit the use of Federal funds for a passenger motor vehicle or a personal driver for the chief executive officer of the Metropolitan Transportation Authority; to the Committee on Transportation and Infrastructure. By Mr. GOTTHEIMER (for himself and Mr. D’Esposito), H3530 [24MY] H.R. 8570 — A bill to establish a pharmacy program to award grants for safe in-home drug disposal and practical medication safety education, and for other purposes; to the Committee on Energy and Commerce. By Mr. HUDSON, H3530 [24MY] H.R. 8571 — A bill to require the Attorney General to establish a grant program to assist with the medical expenses of qualified working dogs, and for other purposes; to the Committee on the Judiciary, and in addition to the Committees on Armed Services, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. JAMES (for himself and Ms. Wild), H3530 [24MY] Cosponsors added, H4110 [14JN] H.R. 8572 — A bill to direct the Federal Election Commission to establish a program under which participating States shall provide individuals with vouchers which may be used to make contributions to candidates for election for the office of Representative in, or Delegate or Resident Commissioner to, the Congress, to amend the Federal Election Campaign Act of 1971 to establish a program to provide small dollar financing for candidates for election for the office of Representative in, or Delegate or Resident Commissioner to, the Congress, and for other purposes; to the Committee on House Administration, and in addition to the Committees on the Judiciary, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SARBANES (for himself, Mr. Neguse, Ms. Clarke of New York, and Ms. Pingree), H3530 [24MY] H.R. 8573 — A bill to amend the Labor-Management Reporting and Disclosure Act of 1959 to require labor organizations to make certain disclosures to its members, and for other purposes; to the Committee on Education and the Workforce. By Ms. FOXX, H3534 [28MY] H.R. 8574 — A bill to amend the Public Health Service Act to reform the 340B drug pricing program, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BUCSHON (for himself, Mr. Carter of Georgia, and Mrs. Harshbarger), H3534 [28MY] H.R. 8575 — A bill to amend title XIX of the Social Security Act to revise the definition of institution for mental diseases under the Medicaid program to exclude from such definition institutions having 36 beds or less if such institutions meet certain standards; to the Committee on Energy and Commerce. By Mr. GOLDMAN of New York (for himself, Ms. Malliotakis, Mr. Cárdenas, and Mr. Bilirakis), H3534 [28MY] H.R. 8576 — A bill to amend title XVIII of the Social Security Act to establish a new criterion for the nonapplication of site-neutral payments to long-term care hospitals under the Medicare program; to the Committee on Ways and Means. By Mr. HERN, H3534 [28MY] H.R. 8577 — A bill to create a national commission to combat workplace sexual harassment, and for other purposes; to the Committee on Education and the Workforce. By Ms. NORTON, H3534 [28MY] H.R. 8578 — A bill to amend the Internal Revenue Code of 1986 to establish the truck fleet retreaded tire tax credit, to require Federal agencies to consider the use of retreaded tires, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. SYKES (for herself and Mr. LaHood), H3534 [28MY] H.R. 8579 — A bill to amend the Federal Water Pollution Control Act to direct the Administrator of the Environmental Protection Agency to carry out further improvement of Onondaga Lake, New York, and for the purposes of integrating research, education, planning and restoration of the watershed; to the Committee on Transportation and Infrastructure. By Mr. WILLIAMS of New York, H3534 [28MY] H.R. 8580 — A bill making appropriations for military construction, the Department of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2025, and for other purposes. Mr. CARTER of Texas, H3534 [28MY] Reported (H. Rept. 118–528), H3534 [28MY] Providing for consideration (H. Res. 1269), H3581 [3JN] Debated, H3601 [4JN], H3661 [5JN] Text, H3605 [4JN] Amendments, H3615, H3616, H3617, H3618, H3619, H3620, H3621, H3622, H3623, H3624, H3625, H3626, H3627, H3628, H3629, H3630, H3631, H3632 [4JN], H3661, H3662, H3663 [5JN] Motion to recommit rejected, H3667 [5JN] Passed House amended, H3668 [5JN] Message from the House, S4018 [11JN] H.R. 8581 — A bill to amend the Small Business Act to provide for cancellation or repayment for certain Small Business Administration disaster loans, and for other purposes; to the Committee on Small Business. By Ms. BROWNLEY, H3541 [31MY] H.R. 8582 — A bill to improve Federal disaster management and response for disadvantaged communities, and for other purposes; to the Committee on Transportation and Infrastructure. By Ms. BROWNLEY, H3541 [31MY] H.R. 8583 — A bill to amend the Housing and Community Development Act of 1974 to revise the formula for allocation of community development block grant funds, and for other purposes; to the Committee on Financial Services. By Mr. COHEN, H3541 [31MY] H.R. 8584 — A bill to amend the title 18, United States Code, to increase the penalties for theft or bribery concerning programs receiving Federal funds and to amend the Richard B. Russell National School Lunch Act to require audits under the summer food service program; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CRAIG, H3541 [31MY] H.R. 8585 — A bill to establish a National Auto Theft Bureau within the Department of Justice; to the Committee on the Judiciary. By Mr. GOTTHEIMER (for himself and Mr. D’Esposito), H3541 [31MY] H.R. 8586 — A bill to impose sanctions on the judges, prosecutors and investigators of the Islamic Republic of Iran’s Revolutionary Courts; to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, Ways and Means, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. KIM of California (for herself, Mr. Schiff, Mr. Lawler, and Mr. Trone), H3541 [31MY] H.R. 8587 — A bill to amend title 18, United States Code, to increase the scope of the penalty for crimes against children; to the Committee on the Judiciary. By Mr. LAWLER (for himself, Mr. Weber of Texas, Mr. Crenshaw, Mr. Davis of North Carolina, Mr. Stauber, Mr. Bacon, Ms. Tenney, Mr. D’Esposito, and Mr. Gottheimer), H3542 [31MY] Cosponsors added, H3682 [7JN] H.R. 8588 — A bill to amend title XX of the Social Security Act to provide grants to States to support linkages to legal services and medical legal partnerships; to the Committee on Ways and Means. By Ms. SPANBERGER (for herself and Mr. Molinaro), H3542 [31MY] H.R. 8589 — A bill to require the United States Postal Service to implement recommendations from the Inspector General of the United States Postal Service for decreasing instances of delayed mail, improving staffing, and training, and for other purposes; to the Committee on Oversight and Accountability. By Mr. STAUBER, H3542 [31MY] H.R. 8590 — A bill to amend the Homeland Security Act of 2002 to require the Attorney General, in coordination with the Secretary of Homeland Security, to establish counter-UAS system training and require the Attorney General and Secretary of Homeland Security, in coordination with the Administrator of the Federal Aviation Administration to establish related standards for initial and recurrent training programs or certifications for individuals seeking to operate counter-UAS detection and mitigation systems, equipment, or technology, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. STRONG, H3542 [31MY] H.R. 8591 — A bill to amend the Federal Reserve Act to add requirements to the annual report of the Board of Governors of the Federal Reserve System, and for other purposes; to the Committee on Financial Services. By Mr. WILLIAMS of Texas, H3542 [31MY] Cosponsors added, H3583 [3JN], H3657 [4JN], H4116 [18JN] H.R. 8592 — A bill to amend title 38, United States Code, to increase the amount of educational assistance paid by the Secretary of Veterans Affairs to an eligible individual during the first year of a full-time program of apprenticeship or other on-job training; to the Committee on Veterans’ Affairs. By Mr. VAN ORDEN (for himself and Mrs. Dingell), H3581 [3JN] H.R. 8593 — A bill to award grants to local educational agencies to operate after school programs in certain areas with a high rate of juvenile crime; to the Committee on Education and the Workforce. By Mr. JAMES (for himself and Ms. Caraveo), H3581 [3JN] Cosponsors added, H4110 [14JN] H.R. 8594 — A bill to amend title 49, United States Code, to establish an Aviation Security Checkpoint Technology Fund in the Department of Homeland Security to fund investments in aviation security checkpoint technology, and for other purposes; to the Committee on Homeland Security. By Mr. LaLOTA (for himself, Mr. Ruppersberger, Mr. Gimenez, Mr. Thanedar, Mr. Higgins of Louisiana, Mr. Robert Garcia of California, and Ms. Lee of Florida), H3581 [3JN] H.R. 8595 — A bill to provide for supplemental appropriations to increase the number of Americorps members and to increase the living allowances of such members, and for other purposes; to the Committee on Appropriations, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. NORTON, H3581 [3JN] H.R. 8596 — A bill to direct certain heads of Federal agencies to develop a strategy to improve Federal investigations of organized postal theft, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PANETTA (for himself and Mrs. Kim of California), H3581 [3JN] H.R. 8597 — A bill to amend the Ethics in Government Act of 1978, the Rules of the House of Representatives, the Lobbying Disclosure Act of 1995, the Legislative Reorganization Act of 1946, the Duncan Hunter National Defense Authorization Act for Fiscal Year 2009, the Internal Revenue Code of 1986, the Foreign Agents Registration Act of 1938, the Financial Stability Act of 2010, and the Federal Funding Accountability and Transparency Act of 2006 to improve access to information in the legislative and executive branches of the Government, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on House Administration, the Judiciary, Ethics, Financial Services, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. QUIGLEY (for himself and Ms. Norton), H3581 [3JN] H.R. 8598 — A bill to amend the Consolidated Farm and Rural Development Act to provide for a pilot program under which development loans and loan guarantees may be made to beginning farmers and ranchers, and for other purposes; to the Committee on Agriculture. By Ms. STRICKLAND (for herself, Ms. Adams, and Mr. Panetta), H3581 [3JN] H.R. 8599 — A bill to amend the Internal Revenue Code of 1986 to include over-the-counter oral healthcare products as qualified medical expenses which can be purchased with HSA and FSA funds; to the Committee on Ways and Means. By Mr. VAN DREW (for himself, Mr. Schneider, Ms. Malliotakis, and Mr. Panetta), H3581 [3JN] H.R. 8600 — A bill to amend title 18, United States Code, to restrict the possession of certain firearms, and for other purposes; to the Committee on the Judiciary. By Mrs. McBATH (for herself, Mr. Beyer, Ms. Williams of Georgia, and Mr. Johnson of Georgia), H3581 [3JN] Cosponsors added, H3675 [5JN], H3976 [12JN], H4116 [18JN] H.R. 8601 — A bill to amend the Public Health Service Act to provide for and support liver illness visibility, education, and research, and for other purposes; to the Committee on Energy and Commerce. By Ms. VELÁZQUEZ (for herself, Mr. Bowman, Ms. Meng, Ms. Schakowsky, Ms. Barragán, Ms. Jackson Lee, Mr. Grijalva, and Mr. Johnson of Georgia), H3581 [3JN] H.R. 8602 — A bill to require the Secretary of Labor to establish a program to provide grants for job guarantee programs; to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. WATSON COLEMAN (for herself, Ms. Omar, Ms. Norton, Ms. Tlaib, Mr. Bowman, and Mrs. Ramirez), H3581 [3JN] Cosponsors added, H3728 [11JN] H.R. 8603 — A bill to direct the Secretary of the Interior to establish a pilot program for a Federal and State multi-entity pass accepted by one or more Federal land management agencies and one or more State land management agencies, and for other purposes; to the Committee on Natural Resources. By Mr. COLLINS, H3654 [4JN] H.R. 8604 — A bill to reduce regulatory barriers to housing, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BLUNT ROCHESTER, H3655 [4JN] H.R. 8605 — A bill to amend the Internal Revenue Code of 1986 to modify the rules governing the State administration of self-employment assistance programs; to the Committee on Ways and Means. By Mr. CAREY (for himself and Mr. Landsman), H3655 [4JN] H.R. 8606 — A bill to reauthorize the Director of the United States Holocaust Memorial Museum to support Holocaust education programs, and for other purposes; to the Committee on Education and the Workforce. By Mr. CARTER of Georgia (for himself, Ms. Manning, Ms. Stefanik, Mr. Gottheimer, Mr. Wilson of South Carolina, Ms. Wasserman Schultz, Mr. Moolenaar, and Mr. Fitzpatrick), H3655 [4JN] Cosponsors added, H4116 [18JN] H.R. 8607 — A bill to amend title 38, United States Code, to make certain legatees of certain veterans eligible for housing loans guaranteed by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. CLYBURN (for himself and Mr. Moulton), H3655 [4JN] Cosponsors added, H3728 [11JN], H4064 [13JN] H.R. 8608 — A bill to amend title 49, United States Code, to prohibit access by certain individuals to certain areas of airports, and for other purposes; to the Committee on Homeland Security. By Mr. GIMENEZ (for himself, Ms. Wasserman Schultz, Mr. Diaz-Balart, Ms. Salazar, and Mr. Moskowitz), H3655 [4JN] H.R. 8609 — A bill to amend title 28, United States Code, to establish an Office of Ethics Counsel and an Office of Investigative Counsel within the Supreme Court of the United States; to the Committee on the Judiciary. By Mr. GOLDMAN of New York (for himself, Mr. Nadler, Mr. Johnson of Georgia, Ms. Sherrill, Mr. Schiff, Mr. Ivey, Ms. Garcia of Texas, Mr. Krishnamoorthi, Mr. Cohen, Ms. Norton, Ms. McCollum, Mrs. Ramirez, Mr. Landsman, Mr. Blumenauer, Mr. Tonko, Ms. Schakowsky, Mrs. Watson Coleman, Mr. Connolly, Mr. Grijalva, Ms. Jackson Lee, Mr. Quigley, Ms. Brownley, Mr. Gottheimer, Ms. Bonamici, and Ms. Plaskett), H3655 [4JN] Cosponsors added, H3682 [7JN], H4064 [13JN] H.R. 8610 — A bill to reauthorize and reform counter-unmanned aircraft system authorities, to improve transparency, security, safety, and accountability related to such authorities, and for other purposes; to the Committee on Transportation and Infrastructure, and in addition to the Committees on the Judiciary, and Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GREEN of Tennessee (for himself, Mr. Thompson of Mississippi, Mr. Graves of Missouri, Mr. Larsen of Washington, and Mr. Nadler), H3655 [4JN] Cosponsors added, H3728 [11JN] H.R. 8611 — A bill to amend the Federal Agriculture Improvement and Reform Act of 1996 and the Federal Crop Insurance Act with respect to transitioning producers from the noninsurance crop assistance program to whole farm revenue insurance; to the Committee on Agriculture. By Mrs. HAYES (for herself, Mr. Larson of Connecticut, Mr. Courtney, Ms. DeLauro, Mr. Himes, Mr. McGovern, Mr. Neal, Ms. Jackson Lee, Ms. Adams, and Ms. Pingree), H3655 [4JN] Cosponsors added, H3976 [12JN], H4116 [18JN] H.R. 8612 — A bill to direct the Secretary of Education to establish a personal finance education portal on a centralized website of the Department of Education pertaining to Federal financial aid; to the Committee on Education and the Workforce. By Ms. LEGER FERNANDEZ, H3655 [4JN] H.R. 8613 — A bill to direct the Secretary of Agriculture and the Director of the National Science Foundation to carry out cross-cutting and collaborative research and development activities focused on the joint advancement of Department of Agriculture and National Science Foundation mission requirements and priorities, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LUCAS (for himself and Ms. Salinas), H3655 [4JN] H.R. 8614 — A bill to authorize the National Academies of Sciences, Engineering, and Medicine to carry out a study to examine the potential relationship between increased health risks and living in proximity to sites that have been or are being mined for surface coal deposits, and the potential human health effects of surface coal mining operations in Central Appalachia, and for other purposes; to the Committee on Natural Resources. By Mr. McGARVEY (for himself and Mr. Grijalva), H3655 [4JN] H.R. 8615 — A bill to authorize the court to impose a sentence that is below the minimum statutory sentence in the case of a victim offender; to the Committee on the Judiciary. By Mr. MORELLE (for himself and Mrs. Dingell), H3655 [4JN] H.R. 8616 — A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to require the President to establish a disaster deductible for each State to offset the amount provided to such State in response to a major disaster, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. PERRY, H3655 [4JN] H.R. 8617 — A bill to provide for automatic acquisition of United States citizenship for certain internationally adopted individuals, and for other purposes; to the Committee on the Judiciary. By Mr. SMITH of Washington (for himself and Mr. Bacon), H3655 [4JN] Cosponsors added, H3728 [11JN] H.R. 8618 — A bill to require the Environmental Protection Agency to assess the lifecycle greenhouse gas emissions associated with forest biomass combustion for electricity when developing relevant rules and regulations and to carry out a study on the impacts of the forest biomass industry, and for other purposes; to the Committee on Energy and Commerce. By Mr. THOMPSON of Mississippi (for himself and Mrs. Foushee), H3655 [4JN] H.R. 8619 — A bill to amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes; to the Committee on Ways and Means. By Mr. WENSTRUP, H3655 [4JN] H.R. 8620 — A bill to amend the Federal Reserve Act to require the Secretary of the Treasury to print $500 Federal reserve notes featuring a portrait of the 45th President of the United States; to the Committee on Financial Services. By Mr. GOSAR, H3672 [5JN] H.R. 8621 — A bill to amend part B of title IV of the Social Security Act to support State implementation of Federal standards established under the Indian Child Welfare Act of 1978; to the Committee on Ways and Means. By Mr. BACON (for himself, Ms. Chu, Mr. Kildee, Mr. Cole, and Ms. Davids of Kansas), H3672 [5JN] Cosponsors added, H3728 [11JN] H.R. 8622 — A bill to prohibit the use of algorithmic systems to artificially inflate the price or reduce the supply of leased or rented residential dwelling units in the United States; to the Committee on the Judiciary. By Ms. BALINT (for herself, Mr. García of Illinois, Mr. Gomez, Ms. Jayapal, Mr. Johnson of Georgia, Mr. Nadler, Ms. Norton, Mrs. Watson Coleman, and Ms. Omar), H3672 [5JN] Cosponsors added, H3728 [11JN], H4116 [18JN] H.R. 8623 — A bill to amend the National Voter Registration Act of 1993 to require each State to implement a process under which individuals who are 16 years of age may apply to register to vote in elections for Federal office in the State, to direct the Election Assistance Commission to make grants to States to increase the involvement of minors in public election activities, and for other purposes; to the Committee on House Administration. By Mr. BEYER (for himself, Mr. Peters, Ms. Schakowsky, Ms. Lee of California, Mrs. Watson Coleman, Mr. Casten, Ms. Norton, Ms. Blunt Rochester, Mr. Cohen, Mr. Carbajal, and Ms. Bonamici), H3672 [5JN] Cosponsors added, H3728 [11JN], H4110 [14JN] H.R. 8624 — A bill to require the Secretary of Housing and Urban Development and the Secretary of Agriculture to withdraw a final determination relating to energy efficiency standards for housing, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BIGGS (for himself, Mr. Gosar, Mr. Norman, Mr. Ogles, Mr. Moolenaar, Mr. Higgins of Louisiana, Mr. Rosendale, and Mr. Donalds), H3672 [5JN] Cosponsors added, H3682 [7JN], H3976 [12JN] H.R. 8625 — A bill to amend the Harmonized Tariff Schedule of the United States to modify temporarily certain rates of duty for bicycle manufacturing components, to establish an electric bicycle production tax credit, to direct the Secretary of Transportation to establish the U.S. Bicycle and E-Bicycle Manufacturing Initiative to make loans to support domestic investment in the manufacturing of bicycles and electric bicycles, and for other purposes; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BLUMENAUER, H3672 [5JN] H.R. 8626 — A bill to amend the Juvenile Justice and Delinquency Prevention Act of 1974 to eliminate the use of valid court orders to secure lockup of status offenders, and for other purposes; to the Committee on Education and the Workforce. By Mr. CÁRDENAS, H3672 [5JN] H.R. 8627 — A bill to amend title 38, United States Code, to modify certain requirements relating to the recovery by the Department of Veterans Affairs of overpayments made to eligible persons or veterans relating to educational assistance under the laws administered by the Secretary of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. DAVIS of North Carolina, H3672 [5JN] H.R. 8628 — A bill to prohibit the Director of the Bureau of Consumer Financial Protection from issuing new rules or guidance relating to buy now pay later services until the Bureau and the Comptroller General of the United States each conduct a study on such services, and for other purposes; to the Committee on Financial Services. By Mr. DONALDS, H3672 [5JN] H.R. 8629 — A bill to provide that an alien who holds a passport issued by the Palestinian Authority may not be admitted or paroled into the United States or be issued a visa or other documentation to enter the United States; to the Committee on the Judiciary. By Mr. GAETZ (for himself, Mr. Biggs, Mrs. Miller of Illinois, and Mr. Crane), H3672 [5JN] H.R. 8630 — A bill to improve the passenger experience during aviation checkpoint security screening, without reducing security effectiveness, by encouraging the deployment of technological and other solutions, and for other purposes; to the Committee on Homeland Security. By Mr. ROBERT GARCIA of California (for himself, Mr. LaLota, and Mr. McGarvey), H3672 [5JN] H.R. 8631 — A bill to prohibit the Secretary of Homeland Security from procuring certain foreign-made batteries, and for other purposes; to the Committee on Homeland Security. By Mr. GIMENEZ (for himself, Mr. Green of Tennessee, Mr. Moolenaar, and Mr. Pfluger), H3672 [5JN] Cosponsors added, H3728 [11JN] H.R. 8632 — A bill to require the Secretary of the Interior to withdraw a proposed rule relating to the biological integrity, diversity, and environmental health of the National Wildlife Refuge System; to the Committee on Natural Resources. By Mr. GROTHMAN (for himself and Mr. Tiffany), H3672 [5JN] Cosponsors added, H4110 [14JN] H.R. 8633 — A bill to amend title 10, United States Code, to direct the Secretary of Defense to limit copayments for outpatient visits for mental health or behavioral health under the TRICARE program, and for other purposes; to the Committee on Armed Services. By Ms. HOULAHAN (for herself and Mr. Reschenthaler), H3672 [5JN] H.R. 8634 — A bill to direct the Secretary of Homeland Security to submit a report to Congress on crimes committed by individuals granted parole under the Immigration and Nationality Act; to the Committee on the Judiciary. By Mr. LUTTRELL, H3672 [5JN] H.R. 8635 — A bill to amend the Internal Revenue Code of 1986 to double the value of certain tax benefits relating to children and dependents; to the Committee on Ways and Means. By Mr. MOLINARO (for himself and Ms. Davids of Kansas), H3672 [5JN] H.R. 8636 — A bill to amend the Defense Production Act of 1950 to provide a process for a member agency of the Committee on Foreign Investment in the United States to request the Committee initiate a unilateral review of a transaction and to require congressional notice when such request is denied, and for other purposes; to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOOLENAAR (for himself, Mr. Huizenga, and Mr. Nunn of Iowa), H3672 [5JN] H.R. 8637 — A bill to make protection against damage and loss resulting from the erosion and undermining of shorelines available under the National Flood Insurance Program, and for other purposes; to the Committee on Financial Services. By Mr. MURPHY (for himself, Ms. Pingree, Mr. Rouzer, Mr. Wittman, Mr. D’Esposito, Mr. Davis of North Carolina, and Mrs. Kiggans of Virginia), H3672 [5JN] H.R. 8638 — A bill to designate the facility of the United States Postal Service located at 1810 FM 1462 in Rosharon, Texas, as the ‘‘Army Specialist 5th Class Clarence Sasser Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. NEHLS, H3672 [5JN] H.R. 8639 — A bill to establish protections for warehouse workers, and for other purposes; to the Committee on Education and the Workforce. By Mr. NORCROSS (for himself, Ms. Stevens, Mr. Smith of New Jersey, Mr. Lawler, Ms. Norton, Mr. Nadler, Ms. Ocasio-Cortez, Mr. Goldman of New York, Ms. Lee of California, Mr. Deluzio, Ms. Schakowsky, Ms. Omar, Ms. Hoyle of Oregon, Mr. Schiff, Ms. Budzinski, Mr. Robert Garcia of California, Mr. Pocan, Mr. Thanedar, Mrs. Ramirez, Ms. Tlaib, Mrs. Watson Coleman, Mr. García of Illinois, Mrs. Beatty, Mr. Bacon, and Ms. Bush), H3672 [5JN] Cosponsors added, H3976 [12JN], H4116 [18JN] H.R. 8640 — A bill to provide for the establishment of a National Interagency Seed and Restoration Center, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. QUIGLEY, H3672 [5JN] H.R. 8641 — A bill to designate the facility of the United States Postal Service located at 401 Main Street in Brawley, California, as the ‘‘Walter Francis Ulloa Memorial Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. RUIZ (for himself, Mr. Panetta, Mr. Sherman, Ms. Lee of California, Mr. Huffman, Mr. Aguilar, Mr. Mullin, Mr. Levin, Ms. Sánchez, Mr. Cárdenas, Mr. Gomez, Mr. Garamendi, Mr. Vargas, Ms. Barragán, Mr. Lieu, Ms. Matsui, Mr. Takano, Mr. Correa, Ms. Brownley, Ms. Lofgren, Mrs. Napolitano, Mr. Thompson of California, Mrs. Steel, and Mrs. Kim of California), H3673 [5JN] Cosponsors added, H3728 [11JN], H4064 [13JN], H4116 [18JN] H.R. 8642 — A bill to reprogram funds appropriated to the United States Postal Service for the acquisition and support of zero-emission delivery vehicles to support the hiring and retention of rural employees; to the Committee on Oversight and Accountability. By Mr. STAUBER, H3673 [5JN] H.R. 8643 — A bill to amend subpart 1 of part B of title IV of the Social Security Act to strengthen State plan requirements to include comprehensive mental health and well-being for children and youth in foster care to ensure their thriving and success; to the Committee on Ways and Means. By Mrs. STEEL, H3673 [5JN] H.R. 8644 — A bill to amend the Water Resources Development Act of 2022 to expand eligibility for underserved community harbor projects, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. STEIL (for himself, Mr. Moolenaar, Mrs. McClain, Mr. Bergman, and Mr. Miller of Ohio), H3673 [5JN] H.R. 8645 — A bill to improve airport security screening for certain veterans and passengers with disabilities, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. THANEDAR (for himself and Mr. LaLota), H3673 [5JN] Cosponsors added, H3728 [11JN] H.R. 8646 — A bill to amend title 38, United States Code, to make certain improvements to the provision of on-campus educational and vocational counseling by the Department of Veterans Affairs, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. VAN ORDEN, H3673 [5JN] H.R. 8647 — A bill to amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions to prevent or resolve a default of a housing loan guaranteed by the Secretary, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. VAN ORDEN (for himself and Mr. Alford), H3673 [5JN] Cosponsors added, H3728 [11JN], H4064 [13JN] H.R. 8648 — A bill to increase the transparency of colleges and universities in carrying out their civil rights responsibilities, and for other purposes; to the Committee on Education and the Workforce. By Mrs. CHAVEZ-DeREMER, H3679 [7JN] H.R. 8649 — A bill to ensure that parents are aware of foreign influence in their child’s public school, and for other purposes; to the Committee on Education and the Workforce. By Mr. BEAN of Florida, H3679 [7JN] H.R. 8650 — A bill to extend, and repeal the waiver authority under, the Protecting Europe’s Energy Security Act of 2019; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BARR, H3679 [7JN] H.R. 8651 — A bill to amend title 23, United States Code, to include education on trailer safety in State highway safety programs; to the Committee on Transportation and Infrastructure. By Mr. BURCHETT (for himself and Mr. Garamendi), H3679 [7JN] H.R. 8652 — A bill to direct the Secretary of Homeland Security to establish a pilot program to hire transitioning servicemembers to be Border Patrol agents; to the Committee on Homeland Security, and in addition to the Committees on Armed Services, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CAREY (for himself and Mr. Panetta), H3679 [7JN] H.R. 8653 — A bill to award a Congressional gold medal to Major Thomas D. Howie, in recognition of his bravery and outstanding service during the Battle of Normandy; to the Committee on Financial Services. By Mr. DUNCAN (for himself, Mr. Timmons, Ms. Mace, Mr. Fry, Mr. Wilson of South Carolina, Mr. Norman, and Mr. Clyburn), H3679 [7JN] H.R. 8654 — A bill to direct the Comptroller General of the United States to conduct a review of the Homeland Security Information Network, and for other purposes; to the Committee on Homeland Security. By Mr. EZELL (for himself, Mr. Ivey, and Mr. Pfluger), H3679 [7JN] H.R. 8655 — A bill to require the Federal Air Marshal Service to develop a plan to enhance the Federal law enforcement presence at airports, and for other purposes; to the Committee on Homeland Security. By Mr. GIMENEZ (for himself and Mr. Thanedar), H3679 [7JN] H.R. 8656 — A bill to provide for the implementation of certain recommendations from the Report of the Wildland Fire Mitigation and Management Commission; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, Education and the Workforce, Oversight and Accountability, Armed Services, Energy and Commerce, Science, Space, and Technology, Transportation and Infrastructure, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HARDER of California (for himself, Mr. Scott Franklin of Florida, Mr. Neguse, Mr. Stanton, Mr. Thompson of California, Mr. Garamendi, and Ms. Hoyle of Oregon), H3679 [7JN] Cosponsors added, H4116 [18JN] H.R. 8657 — A bill to require the Secretary of Commerce to produce a report that provides recommendations to improve the effectiveness, efficiency, and impact of Department of Commerce programs related to supply chain resilience and manufacturing and industrial innovation, and for other purposes; to the Committee on Energy and Commerce. By Mr. HIGGINS of Louisiana, H3679 [7JN] H.R. 8658 — A bill to require a report by the Transportation Security Administration on digital identity ecosystems, and for other purposes; to the Committee on Homeland Security. By Mr. HIGGINS of Louisiana, H3679 [7JN] Cosponsors added, H3728 [11JN] H.R. 8659 — A bill to allow women greater access to safe and effective oral contraceptive drugs intended for routine use, and to direct the Comptroller General of the United States to conduct a study on Federal funding of contraceptive methods; to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, Natural Resources, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. HINSON (for herself, Mrs. Miller-Meeks, Ms. Malliotakis, and Mr. Ciscomani), H3679 [7JN] Cosponsors added, H3976 [12JN] H.R. 8660 — A bill to strengthen requirements for contracts between the Department of Education and Federal student loan servicers, and for other purposes; to the Committee on Education and the Workforce. By Ms. JACOBS (for herself, Ms. Bonamici, Ms. Norton, Mr. Goldman of New York, Mr. Krishnamoorthi, Mr. Davis of Illinois, Mr. Thanedar, Mr. Jackson of Illinois, Ms. Salinas, Mrs. Dingell, Mrs. Ramirez, Mr. Thompson of Mississippi, Ms. Moore of Wisconsin, Mr. Robert Garcia of California, Ms. McClellan, Ms. Garcia of Texas, Mr. Frost, Mr. Blumenauer, and Mr. Clyburn), H3679 [7JN] Cosponsors added, H3976 [12JN] H.R. 8661 — A bill to amend title 38, United States Code, to make certain improvements to the laws administered by the Secretary of Veterans Affairs relating to educational assistance, and for other purposes; to the Committee on Veterans’ Affairs. By Mr. JAMES, H3679 [7JN] H.R. 8662 — A bill to reduce commuting burdens on Transportation Security Administration employees, and for other purposes; to the Committee on Homeland Security. By Mr. KENNEDY (for himself and Mr. Garbarino), H3679 [7JN] H.R. 8663 — A bill to require the Science and Technology Directorate in the Department of Homeland Security to develop greater capacity to detect, identify, and disrupt illicit substances in very low concentrations; to the Committee on Homeland Security. By Mr. LaLOTA (for himself and Mr. Correa), H3679 [7JN] H.R. 8664 — A bill to amend the Homeland Security Act of 2002 to direct the Under Secretary for Intelligence and Analysis of the Department of Homeland Security to conduct an annual audit of the information systems and bulk data of the Office of Intelligence and Analysis of the Department, and for other purposes; to the Committee on Homeland Security. By Ms. LEE of Florida (for herself and Mr. Pfluger), H3679 [7JN] Cosponsors added, H3728 [11JN] H.R. 8665 — A bill to amend the Energy Independence and Security Act of 2007 to direct research, development, demonstration, and commercial application activities in support of supercritical geothermal and closed-loop geothermal systems in supercritical various conditions, and for other purposes; to the Committee on Science, Space, and Technology, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LUCAS (for himself and Ms. Salinas), H3679 [7JN] H.R. 8666 — A bill to amend title 28, United States Code, to authorize holding court for the Central Division of Utah in Moab and Monticello; to the Committee on the Judiciary. By Ms. MALOY (for herself and Mr. Curtis), H3679 [7JN] H.R. 8667 — A bill to rename the community-based outpatient clinic of the Department of Veterans Affairs in Cadillac, Michigan, as the ‘‘Duane E. Dewey VA Clinic’’; to the Committee on Veterans’ Affairs. By Mr. MOOLENAAR (for himself, Mrs. Dingell, Mr. Bergman, Mr. Huizenga, Mr. Walberg, Mr. Thanedar, Mrs. McClain, Mr. James, Mr. Kildee, and Ms. Tlaib), H3679 [7JN] H.R. 8668 — A bill to amend the Federal Election Campaign Act of 1971 to provide further transparency for the use of content that is substantially generated by artificial intelligence in political advertisements by requiring such advertisements to include a statement within the contents of the advertisements if generative AI was used to generate any image, audio, or video footage in the advertisements, and for other purposes; to the Committee on House Administration. By Mr. MORELLE (for himself and Mr. Larsen of Washington), H3679 [7JN] H.R. 8669 — A bill to direct the Secretary of Labor to issue nonmandatory guidance on reducing the threat of violence in the workplace, and for other purposes; to the Committee on Education and the Workforce. By Mr. NEGUSE (for himself, Ms. Williams of Georgia, Mr. Johnson of Georgia, and Mr. Smith of Washington), H3679 [7JN] H.R. 8670 — A bill to amend the Immigration and Nationality Act to modify the time at which age is assessed for the purpose of determining whether an alien is an immediate relative; to the Committee on the Judiciary. By Ms. OMAR (for herself, Mr. Correa, Mr. Grijalva, and Ms. Norton), H3679 [7JN] H.R. 8671 — A bill to amend the Homeland Security Act of 2002 to establish the Intelligence Rotational Assignment Program, and for other purposes; to the Committee on Homeland Security. By Mr. PFLUGER, H3679 [7JN] Cosponsors added, H3728 [11JN] H.R. 8672 — A bill to direct the Attorney General of the United States to submit to the Congress a report on Federal criminal offenses, and for other purposes; to the Committee on the Judiciary. By Mr. ROY (for himself, Mr. Trone, and Mr. Biggs), H3679 [7JN] H.R. 8673 — A bill to establish in the National Institute of Standards and Technology the Foundation for Standards and Metrology, and for other purposes; to the Committee on Science, Space, and Technology. By Ms. STEVENS (for herself, Mr. Scott Franklin of Florida, Mr. Neguse, Mr. Stanton, Mr. Thompson of California, Mr. Garamendi, and Ms. Hoyle of Oregon), H3680 [7JN] Cosponsors added, H3976 [12JN] H.R. 8674 — A bill to establish milestone-based development and demonstration projects relating to nuclear fuel, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. WILLIAMS of New York (for himself and Mr. Sorensen), H3680 [7JN] H.R. 8675 — A bill to require the Transportation Security Administration conduct a study relating to the digitization of the law enforcement officer flying armed checkpoint data collection process, and for other purposes; to the Committee on Homeland Security. By Mr. GARBARINO (for himself and Mr. Kennedy), H3724 [11JN] H.R. 8676 — A bill to reduce enteric methane emissions, and for other purposes; to the Committee on Agriculture. By Ms. CROCKETT (for herself and Mr. Molinaro), H3724 [11JN] H.R. 8677 — A bill to amend the National Voter Registration Act of 1993 to prohibit a State from removing the name of any registrant from the official list of voters eligible to vote in elections for Federal office in the State unless the State verifies, on the basis of objective and reliable evidence, that the registrant is ineligible to vote in such elections; to the Committee on House Administration. By Mrs. BEATTY (for herself, Ms. Schakowsky, and Ms. Brown), H3724 [11JN] H.R. 8678 — A bill to amend certain Acts to adjust rental payments with respect to certain Federal rental assistance programs, and for other purposes; to the Committee on Financial Services. By Mr. BOWMAN (for himself and Mrs. Watson Coleman), H3724 [11JN] H.R. 8679 — A bill to include the Czech Republic in the list of foreign states whose nationals are eligible for admission into the United States as E-1 nonimmigrants if United States nationals are treated similarly by the Government of the Czech Republic; to the Committee on the Judiciary. By Mr. COHEN (for himself, Mr. Bacon, Mr. Doggett, Mr. Wilson of South Carolina, Mr. Goldman of New York, Mr. Fitzpatrick, Mr. Veasey, Mrs. McClain, Mr. Moulton, Mr. Turner, and Mr. Kildee), H3724 [11JN] Cosponsors added, H3976 [12JN] H.R. 8680 — A bill to authorize the Secretary of Health and Human Services, acting through the Assistant Secretary for Mental Health and Substance Use, to award grants to train community mental wellness workers; to the Committee on Energy and Commerce. By Mr. ESPAILLAT (for himself, Mr. Lawler, and Mr. Thanedar), H3724 [11JN] Cosponsors added, H4110 [14JN] H.R. 8681 — A bill to ensure that hospitals are considered an eligible entity when awarding health profession opportunity grants under section 2008 of the Social Security Act; to the Committee on Ways and Means. By Mr. HORSFORD, H3724 [11JN] H.R. 8682 — A bill to amend the Internal Revenue Code of 1986 to expand the exclusion for certain conservation subsidies to include subsidies for water conservation or efficiency measures, storm water management measures, and wastewater management measures; to the Committee on Ways and Means. By Mr. HUFFMAN (for himself, Mr. Curtis, Ms. Chu, and Mr. LaMalfa), H3724 [11JN] H.R. 8683 — A bill to require the Secretary of Defense and the Secretary of State to monitor efforts by the People’s Republic of China to build or buy strategic foreign ports, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HUIZENGA, H3724 [11JN] Cosponsors added, H4064 [13JN] H.R. 8684 — A bill to amend the Trademark Act of 1946 to provide for contributory liability for certain electronic commerce platforms for use of a counterfeit mark by a third party on such platforms, and for other purposes; to the Committee on the Judiciary. By Mr. ISSA (for himself, Mr. Nadler, Mr. Cline, and Mr. Johnson of Georgia), H3724 [11JN] H.R. 8685 — A bill to approve the settlement of water rights claims of Ohkay Owingeh in the Rio Chama Stream System, to restore the Bosque on Pueblo Land in the State of New Mexico, and for other purposes; to the Committee on Natural Resources. By Ms. LEGER FERNANDEZ, H3724 [11JN] Cosponsors added, H3976 [12JN] H.R. 8686 — A bill to update thresholds for certain currency transaction reports and suspicious activity reports, and for other purposes; to the Committee on Financial Services. By Mr. LOUDERMILK (for himself, Mr. Meuser, and Mr. Donalds), H3724 [11JN] H.R. 8687 — A bill to amend the Federal Food, Drug, and Cosmetic Act to deem adulterated food containing certain color additives, and for other purposes; to the Committee on Energy and Commerce. By Mrs. LUNA (for herself and Mr. Moylan), H3724 [11JN] H.R. 8688 — A bill to amend the Federal Food, Drug, and Cosmetic Act to treat food for human consumption as adulterated if it contains high-fructose corn syrup; to the Committee on Energy and Commerce. By Mrs. LUNA (for herself and Mr. Moylan), H3724 [11JN] H.R. 8689 — A bill to require Amtrak to publicly disclose certain bonus compensation paid to Amtrak executives, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MOLINARO, H3724 [11JN] Cosponsors added, H4064 [13JN] H.R. 8690 — A bill to amend the Federal Funding Accountability and Transparency Act of 2006 to ensure that other transaction agreements are reported to USAspending.gov, and for other purposes; to the Committee on Oversight and Accountability. By Mr. MOORE of Alabama (for himself and Mr. Panetta), H3724 [11JN] H.R. 8691 — A bill to prohibit forced arbitration in work disputes, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. NADLER (for himself and Mr. Scott of Virginia), H3724 [11JN] H.R. 8692 — A bill to require that the Amtrak Board of Directors comply with the open meetings requirements of section 552b of title 5, United States Code, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. NEHLS, H3724 [11JN] Cosponsors added, H4110 [14JN] H.R. 8693 — A bill to prohibit certain businesses and persons from purchasing real estate adjacent to covered Federal lands in the United States, and for other purposes; to the Committee on Foreign Affairs. By Mr. NEWHOUSE (for himself, Mr. Armstrong, Mr. Ellzey, Mr. Bergman, Mrs. Miller of West Virginia, Mr. Tiffany, Mr. Carl, Ms. Hageman, Mr. Lamborn, Mr. Valadao, Mr. Flood, Mr. Smith of Nebraska, Ms. Maloy, Mr. Kelly of Pennsylvania, Mr. Mills, Mr. Zinke, Mr. LaHood, Mr. Fleischmann, Mr. Baird, Mr. Arrington, Mr. Moolenaar, Mrs. Chavez-DeRemer, Ms. Tenney, Mr. Balderson, Mr. Biggs, Mr. Burchett, Mr. Higgins of Louisiana, Mr. Duarte, Mr. Weber of Texas, Mr. Smith of New Jersey, Mr. Fallon, Ms. Malliotakis, Mr. Grothman, Mr. Collins, and Mr. Allen), H3724 [11JN] Cosponsors added, H3976 [12JN], H4064 [13JN], H4116 [18JN] H.R. 8694 — A bill to amend title 4, United States Code, to permit the flag of the United States to be flown at half-staff in the event of the death of the Mayor of the District of Columbia; to the Committee on the Judiciary. By Ms. NORTON, H3725 [11JN] H.R. 8695 — A bill to amend the Lobbying Disclosure Act of 1995 to create a unique identification number for registered lobbyists, and for other purposes; to the Committee on the Judiciary. By Ms. PORTER, H3725 [11JN] H.R. 8696 — A bill to amend title 18, United States Code, to establish a uniform 2-year post-employment ban on the lobbying of any officer or employee of the executive branch or any Member, officer, or employee of Congress by former executive branch officials and former Members, officers, and employees of Congress, and for other purposes; to the Committee on the Judiciary. By Ms. PORTER, H3725 [11JN] H.R. 8697 — A bill to direct the Secretary of Health and Human Services to conduct a demonstration project to test the impact of a guaranteed monthly income on the health of individuals enrolled for medical assistance under the Medicaid program; to the Committee on Ways and Means. By Mr. SCHIFF (for himself, Mrs. Watson Coleman, Ms. Norton, Mr. Mullin, and Mr. Robert Garcia of California), H3725 [11JN] H.R. 8698 — A bill To amend the Public Health Service Act to provide for a public awareness campaign with repsect to screening for type 1 diabetes, and for other purposes; to the Committee on Energy and Commerce. By Ms. SCHRIER (for herself, Mr. Joyce of Pennsylvania, Ms. DeGette, and Mr. Bilirakis), H3725 [11JN] H.R. 8699 — A bill to amend title 49, United States Code, to direct the Secretary of Transportation to develop an enforcement mechanism with respect to certain provisions relating to the transport of animals, and for other purposes; to the Committee on Agriculture, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. TITUS (for herself, Mr. Blumenauer, Ms. Norton, Mr. Cohen, and Mr. Schiff), H3725 [11JN] H.R. 8700 — A bill to establish international artificial intelligence research partnerships, and for other purposes; to the Committee on Foreign Affairs. By Mrs. TORRES of California, H3725 [11JN] H.R. 8701 — A bill to reform the Intelligence Community, the intelligence-related activities of the counter-drug mission of the United States Government, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WENSTRUP, H3725 [11JN] H.R. 8702 — A bill to amend title XVIII of the Social Security Act to establish requirements with respect to the use of prior authorization under Medicare Advantage plans; to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. KELLY of Pennsylvania (for himself, Ms. DelBene, Mr. Bucshon, Mr. Bera, Mr. Smith of Nebraska, Mr. Pascrell, Mr. Pfluger, Ms. Craig, Mr. Moore of Utah, Mr. Kildee, Mr. Latta, Ms. DeGette, Ms. Van Duyne, Mr. Schneider, Mr. Carter of Georgia, Ms. Matsui, Mr. Wenstrup, Mr. Beyer, Mr. Crenshaw, Mr. Sarbanes, Mr. Fitzpatrick, Ms. Moore of Wisconsin, Mrs. Harshbarger, Ms. Blunt Rochester, Mrs. Miller of West Virginia, Mr. Gomez, Mr. Pence, Mrs. Trahan, Ms. Tenney, Mr. Evans, Mr. Bilirakis, Ms. Barragán, Mr. LaHood, Mr. Panetta, Mr. James, Ms. Clarke of New York, Mr. Schweikert, Mr. Larson of Connecticut, Mrs. Miller-Meeks, Mr. Ferguson, Ms. Chu, Mr. Burgess, Mr. Murphy, Ms. Sánchez, Mr. Joyce of Pennsylvania, Mr. Steube, Ms. Sewell, Mr. Dunn of Florida, Mrs. Fischbach, Mr. Blumenauer, Mr. Hudson, Mrs. Steel, Mr. Carey, Mr. Walberg, Ms. Malliotakis, Mr. Balderson, Mr. Estes, Mr. Smucker, Mr. Smith of Washington, Mr. Carson, Ms. Salinas, Mr. Harris, Mr. Austin Scott of Georgia, Ms. Pressley, Mr. Loudermilk, Ms. McCollum, Mr. Foster, Mr. Allred, Ms. Bush, Mr. Meuser, Mr. Newhouse, Mr. Rouzer, Ms. Wasserman Schultz, Ms. Ross, Mr. Kilmer, Ms. Titus, Mr. Bacon, Mr. Davis of North Carolina, Mr. Ruppersberger, Mr. Case, Ms. Norton, Mr. Mr van, Mr. Thompson of Pennsylvania, Ms. Meng, Mr. Stanton, Mr. Reschenthaler, Ms. Stevens, Mr. LaTurner, Mr. Raskin, Mr. Crow, Mr. Jackson of North Carolina, Mr. Van Drew, Mrs. Kiggans of Virginia, Ms. McClellan, Mr. Nadler, Ms. Tokuda, Mr. Banks, Mr. Costa, Mr. Moolenaar, Mr. Rutherford, Ms. Letlow, Ms. Lois Frankel of Florida, Ms. Dean of Pennsylvania, Ms. Stansbury, Mr. Bost, Mr. Quigley, Ms. Williams of Georgia, Mr. Krishnamoorthi, Mr. Grijalva, Mr. Larsen of Washington, Mr. Torres of New York, Mr. Moulton, Ms. Davids of Kansas, Mr. Lynch, Mr. Cohen, Ms. Wild, Ms. Bonamici, Mr. Lieu, Ms. Leger Fernandez, Mr. Suozzi, Ms. Caraveo, Mr. Nunn of Iowa, Mr. Himes, Mr. Burchett, Mrs. Foushee, Mr. Mann, Mr. Kim of New Jersey, Mr. Flood, Mr. Edwards, and Ms. Schrier), H3973 [12JN] Cosponsors added, H4064 [13JN], H4110 [14JN], H4116 [18JN] H.R. 8703 — A bill to amend the Public Health Service Act to ensure the primary recipient of a grant has access to all information related to the research funded by such grant, and for other purposes; to the Committee on Energy and Commerce. By Mr. CARTER of Georgia, H3973 [12JN] H.R. 8704 — A bill to require the Secretary of Commerce to establish a grant program to foster enhanced coexistence between ocean users and North Atlantic right whales and other large cetacean species; to the Committee on Transportation and Infrastructure, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CARTER of Georgia, H3973 [12JN] Cosponsors added, H4110 [14JN] H.R. 8705 — A bill to require the Administrator of the National Oceanic and Atmospheric Administration to reform the Marine Recreational Information Program of the National Marine Fisheries Service, and for other purposes; to the Committee on Natural Resources. By Mr. GRAVES of Louisiana, H3973 [12JN] H.R. 8706 — A bill to ensure equal protection of the law, to prevent racism in the Federal Government, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on the Judiciary, Education and the Workforce, Armed Services, Foreign Affairs, Financial Services, Energy and Commerce, Transportation and Infrastructure, and Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CLOUD (for himself, Mr. Nehls, Ms. Tenney, Mrs. Lesko, Mrs. Harshbarger, Mr. Moore of Alabama, Mr. Ogles, Mrs. Miller of Illinois, Mr. Weber of Texas, Mr. Self, Mr. Mooney, Mr. Biggs, Mr. Higgins of Louisiana, Mr. Yakym, Mr. Collins, Mrs. Luna, and Mr. Bishop of North Carolina), H3973 [12JN] Cosponsors added, H4064 [13JN] H.R. 8707 — A bill to amend title 28, United States Code, to clarify that protection for jurors on the basis of sex includes sexual orientation and gender identity; to the Committee on the Judiciary. By Ms. BALINT (for herself, Mrs. Fletcher, Mr. Beyer, Ms. Bonamici, Ms. Brownley, Ms. Chu, Ms. Clarke of New York, Mr. Connolly, Ms. Crockett, Ms. Davids of Kansas, Mr. Deluzio, Mr. Espaillat, Mr. Frost, Mr. Robert Garcia of California, Ms. Garcia of Texas, Mr. Goldman of New York, Mrs. Hayes, Mr. Johnson of Georgia, Ms. Kamlager-Dove, Ms. Lee of Pennsylvania, Mr. Moulton, Mr. Nadler, Ms. Norton, Mr. Peters, Mr. Pocan, Ms. Scanlon, Ms. Schakowsky, Mr. Soto, Mr. Swalwell, Mr. Takano, Mr. Tonko, Mr. Torres of New York, Mrs. Watson Coleman, and Ms. Williams of Georgia), H3973 [12JN] Cosponsors added, H4116 [18JN] H.R. 8708 — A bill to prohibit Federal funding for institutions of higher education that carry out diversity, equity, and inclusion initiatives, and for other purposes; to the Committee on Education and the Workforce. By Mr. BILIRAKIS (for himself, Ms. Lee of Florida, and Mr. Baird), H3973 [12JN] H.R. 8709 — A bill to appropriate funds for the Federal Communications Commission’s ‘‘rip and replace’’ program and Affordable Connectivity Program, to improve the Affordable Connectivity Program, to require a spectrum auction, and for other purposes; to the Committee on Energy and Commerce. By Mr. GALLEGO, H3974 [12JN] H.R. 8710 — A bill to amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to a 529 plan; to the Committee on Ways and Means. By Mr. GOTTHEIMER (for himself and Mr. James), H3974 [12JN] H.R. 8711 — A bill to amend title II of the Public Health Service Act to include as an additional right or privilege of commissioned officers of the Public Health Service (and their beneficiaries) certain leave provided under title 10, United States Code to commissioned officers of the Army (or their beneficiaries); to the Committee on Energy and Commerce. By Ms. HOULAHAN (for herself and Mr. Bacon), H3974 [12JN] H.R. 8712 — A bill to authorize the establishment in the Department of State of a Negotiations Support Unit, and for other purposes; to the Committee on Foreign Affairs. By Ms. JACOBS, H3974 [12JN] H.R. 8713 — A bill to amend parts B and E of title IV of the Social Security Act to remove barriers and encourage kinship guardianship, foster, or adoptive placements for children who cannot be safely cared for in their own homes, and for other purposes; to the Committee on Ways and Means. By Ms. KAMLAGER-DOVE (for herself, Ms. Jackson Lee, and Ms. Brown), H3974 [12JN] H.R. 8714 — A bill to require the Secretary of Housing and Urban Development to establish a program to provide homeownership assistance grants, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. LEGER FERNANDEZ (for herself, Mr. Costa, Mr. Robert Garcia of California, Ms. Garcia of Texas, Mr. Grijalva, Ms. Lee of California, Ms. Norton, Mrs. Ramirez, Ms. Salinas, Ms. Stansbury, and Mrs. Watson Coleman), H3974 [12JN] H.R. 8715 — A bill to direct the Secretary of Health and Human Services to establish a pilot program under which the Secretary enters into public-private partnerships with eligible entities to distribute to mothers of newborn infants newborn supply kits, and for other purposes; to the Committee on Energy and Commerce. By Ms. LETLOW (for herself, Ms. Schrier, Mrs. Miller-Meeks, and Ms. Barragán), H3974 [12JN] H.R. 8716 — A bill to appropriate amounts to carry out the Robert T. Stafford Disaster Relief and Emergency Assistance Act; to the Committee on Appropriations, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MOSKOWITZ, H3974 [12JN] H.R. 8717 — A bill to designate the facility of the United States Postal Service located at 20 West Main Street in Santaquin, Utah, as the ‘‘SGT Bill Hooser Post Office Building’’; to the Committee on Oversight and Accountability. By Mr. OWENS (for himself, Mr. Curtis, Ms. Maloy, and Mr. Moore of Utah), H3974 [12JN] H.R. 8718 — A bill to conditionally prohibit commercial offshore wind energy development in the Columbia Management Area, and for other purposes; to the Committee on Natural Resources. By Ms. PEREZ, H3974 [12JN] H.R. 8719 — A bill to amend title 18, United States Code, to require a Federal firearms licensee to provide secure firearms storage information to a prospective firearm transferee, and to amend the Internal Revenue Code of 1986 to provide a gun safe credit, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SHERRILL (for herself, Ms. Williams of Georgia, Ms. Brownley, Mrs. Dingell, Mr. Goldman of New York, Mr. Gottheimer, Ms. Jackson Lee, Mr. Johnson of Georgia, Mr. Moulton, Ms. Norton, Ms. Ross, Ms. Salinas, and Ms. Stevens), H3974 [12JN] H.R. 8720 — A bill to amend the International Religious Freedom Act of 1998 and the Foreign Assistance Act of 1961 to prohibit preferential Federal grant treatment for atheist groups, and for other purposes; to the Committee on Foreign Affairs. By Mr. SMITH of New Jersey (for himself, Mr. Banks, Mr. Hern, Mr. Duncan, Ms. Salazar, Mr. Higgins of Louisiana, Mr. Self, Mr. Weber of Texas, Mr. Babin, Mr. Cline, and Mr. Bishop of North Carolina), H3974 [12JN] H.R. 8721 — A bill to amend the Energy Conservation and Production Act to direct the Secretary of Energy to establish a weatherization readiness program, and for other purposes; to the Committee on Energy and Commerce. By Mr. TONKO (for himself, Ms. Kaptur, and Ms. Slotkin), H3974 [12JN] H.R. 8722 — A bill to amend the United States Housing Act of 1937 to provide housing assistance for youth and young adults who are unstably housed; to the Committee on Financial Services. By Mrs. WATSON COLEMAN (for herself, Ms. Lee of California, Mr. Johnson of Georgia, Mr. Thompson of Mississippi, Mr. Carson, Mrs. Ramirez, and Ms. Plaskett), H3974 [12JN] Cosponsors added, H4064 [13JN] H.R. 8723 — A bill to amend the Head Start Act to authorize block grants to States for prekindergarten education, and for other purposes; to the Committee on Education and the Workforce. By Mr. BANKS, H4060 [13JN] H.R. 8724 — A bill to amend the Food and Nutrition Act of 2008 to allow States to waive certain administrative requirements for recertification, and for other purposes; to the Committee on Agriculture. By Ms. BARRAGÁN (for herself, Ms. Norton, Ms. Lee of California, Ms. Tlaib, and Mr. Carson), H4061 [13JN] H.R. 8725 — A bill to require the Secretary of Health and Human Services to submit to Congress a report on the option to elect to pay cost-sharing under a prescription drug plan or MA-PD plan in monthly capped amounts; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. CARAVEO (for herself, Mrs. Kiggans of Virginia, and Mr. Kean of New Jersey), H4061 [13JN] H.R. 8726 — A bill to direct the Under Secretary of Commerce for Oceans and Atmosphere of the National Oceanic and Atmospheric Administration to establish a Blue Whales and Blue Skies Program to reduce air pollution and harmful underwater acoustic impacts and the risk of fatal vessel whale strikes by recognizing voluntary reductions in the speed of vessels transiting the western coast of the United States, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. CARBAJAL (for himself and Mr. Huffman), H4061 [13JN] H.R. 8727 — A bill to prohibit the award of Federal Government contracts to inverted domestic corporations, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. DeLAURO, H4061 [13JN] H.R. 8728 — A bill to establish alternate procedures for lump sum payments for certain covered small disasters, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. GRAVES of Louisiana (for himself and Mr. Moskowitz), H4061 [13JN] H.R. 8729 — A bill to ensure that institutions of higher education that withhold certain transcripts are eligible to participate in title IV of the Higher Education Act of 1965, and for other purposes; to the Committee on Education and the Workforce. By Mr. GREEN of Tennessee, H4061 [13JN] H.R. 8730 — A bill to require the United States Postal Service to apply certain requirements when closing a processing, shipping, delivery, or other facility supporting a post office, and for other purposes; to the Committee on Oversight and Accountability. By Ms. HAGEMAN (for herself and Mr. Cleaver), H4061 [13JN] H.R. 8731 — A bill to amend the Higher Education Act of 1965 to provide for comprehensive student achievement information; to the Committee on Education and the Workforce. By Mrs. HAYES (for herself and Mr. Curtis), H4061 [13JN] H.R. 8732 — A bill to enhance the rights of domestic employees, and for other purposes; to the Committee on Education and the Workforce, and in addition to the Committees on House Administration, Energy and Commerce, Ways and Means, Oversight and Accountability, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. JAYAPAL (for herself, Ms. Adams, Ms. Balint, Ms. Barragán, Mrs. Beatty, Mr. Beyer, Mr. Blumenauer, Ms. Bonamici, Mr. Bowman, Mr. Boyle of Pennsylvania, Ms. Brown, Ms. Brownley, Ms. Budzinski, Ms. Bush, Mr. Cárdenas, Mr. Carson, Mr. Carter of Louisiana, Mr. Casar, Mr. Casten, Mr. Castro of Texas, Mrs. Cherfilus-McCormick, Ms. Chu, Ms. Clarke of New York, Mr. Cleaver, Mr. Clyburn, Mr. Cohen, Mr. Correa, Mr. Courtney, Mr. Davis of Illinois, Ms. Dean of Pennsylvania, Ms. DeLauro, Ms. DelBene, Mr. Deluzio, Mrs. Dingell, Mr. Doggett, Ms. Escobar, Mr. Espaillat, Mr. Evans, Mrs. Foushee, Mr. Frost, Mr. Garamendi, Mr. García of Illinois, Mr. Robert Garcia of California, Ms. Garcia of Texas, Mr. Goldman of New York, Mr. Gomez, Mr. Green of Texas, Mr. Grijalva, Mrs. Hayes, Mr. Himes, Mr. Horsford, Ms. Hoyle of Oregon, Mr. Huffman, Mr. Jackson of Illinois, Ms. Jackson Lee, Ms. Jacobs, Mr. Johnson of Georgia, Ms. Kamlager-Dove, Ms. Kelly of Illinois, Mr. Khanna, Mr. Kilmer, Mr. Kim of New Jersey, Mr. Krishnamoorthi, Mr. Landsman, Ms. Lee of California, Ms. Lee of Nevada, Ms. Leger Fernandez, Mr. Lieu, Ms. Lofgren, Mr. Lynch, Ms. Matsui, Ms. McClellan, Ms. McCollum, Mr. McGovern, Mr. Meeks, Mr. Menendez, Ms. Meng, Mr. Mfume, Ms. Moore of Wisconsin, Mr. Mullin, Mr. Nadler, Mrs. Napolitano, Mr. Neguse, Mr. Norcross, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Ms. Pingree, Mr. Pocan, Ms. Porter, Ms. Pressley, Mr. Quigley, Mrs. Ramirez, Mr. Raskin, Ms. Ross, Ms. Salinas, Ms. Sánchez, Mr. Sarbanes, Ms. Scanlon, Ms. Schakowsky, Mr. Schiff, Mr. David Scott of Georgia, Mr. Smith of Washington, Mr. Soto, Ms. Stansbury, Ms. Stevens, Ms. Strickland, Mr. Suozzi, Mr. Swalwell, Mr. Takano, Mr. Thanedar, Ms. Tlaib, Ms. Tokuda, Mr. Torres of New York, Mrs. Trahan, Mr. Vargas, Mr. Vasquez, Ms. Velázquez, Ms. Wasserman Schultz, Mrs. Watson Coleman, Ms. Wild, Ms. Williams of Georgia, and Ms. Wilson of Florida), H4061 [13JN] Cosponsors added, H4110 [14JN] H.R. 8733 — A bill to amend the Child Abuse Prevention and Treatment Act to direct the Secretary of Health and Human Services to include data on animal abuse in the national clearinghouse for information relating to child abuse and neglect; to the Committee on Education and the Workforce. By Ms. KUSTER (for herself and Mr. Van Drew), H4061 [13JN] Cosponsors added, H4116 [18JN] H.R. 8734 — A bill to amend the Northern Border Security Review Act to require updates to the northern border threat analysis and northern border strategy, and for other purposes; to the Committee on Homeland Security. By Mr. LANGWORTHY (for himself, Ms. Tenney, Mr. Stauber, Mr. Tiffany, Mr. Weber of Texas, Mr. Moolenaar, Mr. Zinke, Mr. Lawler, Mr. Kean of New Jersey, Mr. Armstrong, Mrs. McClain, Mr. Kelly of Pennsylvania, Mrs. Fischbach, Mr. Smith of New Jersey, Mrs. Miller of West Virginia, Mr. Newhouse, and Ms. Stefanik), H4061 [13JN] H.R. 8735 — A bill to award a Congressional Gold Medal to Edward J. Dwight, Jr., the first African American astronaut candidate in the United States; to the Committee on Financial Services. By Mr. NEGUSE (for himself and Ms. Mace), H4061 [13JN] H.R. 8736 — A bill to require the President to notify Congress of each instance the President takes certain drugs relating to cognitive function, and for other purposes; to the Committee on Oversight and Accountability. By Mr. OGLES, H4061 [13JN] H.R. 8737 — A bill to amend the Infrastructure and Investment and Jobs Act to repeal the authority of the Secretary of Energy and the Secretary of Transportation to maintain an electric vehicle working group, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committees on Transportation and Infrastructure, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. OGLES (for himself, Mr. Perry, Mr. Mills, Mr. Rosendale, Mr. Weber of Texas, Mr. Norman, and Mr. Good of Virginia), H4061 [13JN] H.R. 8738 — A bill to amend the Internal Revenue Code of 1986 to provide a credit against tax for certain health professionals providing clinical supervision to students in rural health professional shortage areas; to the Committee on Ways and Means. By Ms. PETTERSEN (for herself and Mr. Molinaro), H4061 [13JN] H.R. 8739 — A bill to amend the Occupational Safety and Health Act of 1970 to ensure labels or other appropriate forms of warning are provided in English and in the language indicated by each employee exposed to the hazard as the primary language of such employee, and for other purposes; to the Committee on Education and the Workforce. By Mr. SCHIFF (for himself, Ms. Ocasio-Cortez, Mr. Carson, Mr. Mullin, Mrs. Dingell, Ms. Norton, Ms. Velázquez, Mr. Lynch, and Mr. Grijalva), H4061 [13JN] Cosponsors added, H4116 [18JN] H.R. 8740 — A bill to amend the Consumer Financial Protection Act of 2010 to direct the Office of Community Affairs to identify causes leading to, and solutions for, under-banked, un-banked, and underserved consumers, and for other purposes; to the Committee on Financial Services. By Mr. DAVID SCOTT of Georgia (for himself and Mrs. Kim of California), H4061 [13JN] H.R. 8741 — A bill to establish the Office of Information and Communications Technology and Services within the Bureau of Industry and Security of the Department of Commerce, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SLOTKIN, H4061 [13JN] H.R. 8742 — A bill to establish the Office of Information and Communications Technology and Services within the Bureau of Industry and Security of the Department of Commerce, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. SLOTKIN, H4061 [13JN] H.R. 8743 — A bill to amend subpart 2 of part B of title IV of the Social Security Act to promote permanency for youth by strengthening support networks for children, youth, and families at risk of entering the child welfare system; to the Committee on Ways and Means. By Mr. SMUCKER (for himself and Mr. Davis of North Carolina), H4061 [13JN] H.R. 8744 — A bill to amend part B of title IV of the Social Security Act to review and reduce certain administrative burdens, and for other purposes; to the Committee on Ways and Means. By Mr. SMUCKER, H4062 [13JN] H.R. 8745 — A bill to amend part B of title IV of the Social Security Act to improve the monthly caseworker visits program so States can invest in the child welfare workforce ensuring that children in care have access to quality and timely care; to the Committee on Ways and Means. By Mr. SMUCKER, H4062 [13JN] H.R. 8746 — A bill to direct the Secretary of Defense to establish a pilot program to develop a training program that teaches members of the Armed Forces to interact with digital information in a safe and responsible manner, and for other purposes; to the Committee on Armed Services. By Ms. STEVENS (for herself and Ms. Slotkin), H4062 [13JN] H.R. 8747 — A bill to require disclosure of asbestos hazards in the sale and lease of residential dwellings, and for other purposes; to the Committee on Financial Services, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. TORRES of California, H4062 [13JN] H.R. 8748 — A bill to construct dog relief areas on the United States Capitol Grounds, and for other purposes; to the Committee on Transportation and Infrastructure. By Mrs. WATSON COLEMAN (for herself, Mr. Moskowitz, Ms. Wild, Mr. Carson, Ms. Jackson Lee, Mr. Kean of New Jersey, and Ms. Norton), H4062 [13JN] H.R. 8749 — A bill to amend title XVIII of the Social Security Act to promote preparedness and Medicare beneficiary access to safer, more accurate sterile intravenous drug preparations through automated hospital infrastructure; to the Committee on Ways and Means. By Mr. KELLY of Pennsylvania, H4108 [14JN] H.R. 8750 — A bill to designate the exclusive economic zone of the United States as the ‘‘Donald John Trump Exclusive Economic Zone of the United States’’; to the Committee on Natural Resources. By Mr. STEUBE, H4108 [14JN] Cosponsors added, H4116 [18JN] H.R. 8751 — A bill to direct the Secretary of Commerce to establish a grant program to support State data infrastructure projects, and for other purposes; to the Committee on Oversight and Accountability. By Mr. BUCSHON (for himself and Mrs. Dingell), H4108 [14JN] H.R. 8752 — A bill making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2025, and for other purposes. By Mr. AMODEI, H4108 [14JN] Reported (H. Rept. 118–553), H4108 [14JN] H.R. 8753 — A bill to direct the United States Postal Service to designate single, unique ZIP Codes for certain communities, and for other purposes; to the Committee on Oversight and Accountability. By Ms. BOEBERT (for herself, Mr. Griffith, Mr. Donalds, Mr. Nehls, Mr. Steil, and Mr. LaLota), H4108 [14JN] H.R. 8754 — A bill to amend the Food Security Act of 1985 to encourage practices that benefit both soil and wildlife habitat by increasing payments to producers for such practices under the environmental quality incentives program and the conservation stewardship program, and for other purposes; to the Committee on Agriculture. By Ms. BROWNLEY (for herself and Mr. Carbajal), H4108 [14JN] H.R. 8755 — A bill to amend title 5, United States Code, to establish Eid Days as Federal holidays, and for other purposes; to the Committee on Oversight and Accountability. By Mr. CARSON (for himself, Mr. Gottheimer, Mr. Jackson of Illinois, Ms. Meng, Ms. Omar, and Ms. Tlaib), H4108 [14JN] H.R. 8756 — A bill to establish the Chief Artificial Intelligence Officers Council, Chief Artificial Intelligence Officers, and Artificial Intelligence Coordination Boards, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committee on Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CONNOLLY (for himself and Mr. Garbarino), H4108 [14JN] H.R. 8757 — A bill to prohibit the use of Federal funds to support cell-cultured meat, and for other purposes; to the Committee on Agriculture. By Mr. DAVIDSON (for himself, Mr. Massie, Ms. Hageman, Mr. Hern, Mr. Steube, Mr. Baird, Mr. Rosendale, Mr. Jackson of Texas, and Mr. Self), H4108 [14JN] H.R. 8758 — A bill to amend the Occupational Safety and Health Act of 1970 to expand coverage under such Act to public employees; to the Committee on Education and the Workforce. By Mr. DELUZIO (for himself and Mr. Fitzpatrick), H4108 [14JN] H.R. 8759 — A bill to amend the Higher Education Act of 1965 to allow certain payments made by public service employees to qualify for public service repayment, and for other purposes; to the Committee on Education and the Workforce. By Mr. FOSTER (for himself, Mr. Fitzpatrick, Mr. García of Illinois, Mr. Nadler, Ms. Kuster, Mr. Bishop of Georgia, Ms. Clarke of New York, and Ms. Lee of California), H4108 [14JN] H.R. 8760 — A bill to award a Congressional Gold Medal to Reverend James Morris Lawson, Jr., in recognition of his contributions to the United States through the promotion of nonviolence during the Civil Rights movement and beyond; to the Committee on Financial Services. By Mr. KHANNA (for himself, Ms. Ocasio-Cortez, Ms. Lee of California, Mr. Thompson of Mississippi, Ms. Norton, Mr. Johnson of Georgia, Mrs. Beatty, Ms. Williams of Georgia, Ms. Tlaib, Mr. Carson, Mr. Cleaver, Mr. Grijalva, Mr. Clyburn, Ms. Barragán, Mr. Cohen, Mr. Moulton, Mr. Thanedar, Ms. Kamlager-Dove, Ms. Sewell, Ms. Clarke of New York, Mr. Meeks, and Mr. Smith of Washington), H4108 [14JN] Cosponsors added, H4116 [18JN] H.R. 8761 — A bill to amend the Higher Education Act of 1965 to provide that non-Federal revenue generated through certain distance education programs may be counted purposes of the non-Federal revenue requirements applicable to proprietary institutions of higher education (commonly known as the ‘‘90/10 rule’’); to the Committee on Education and the Workforce. By Mr. OWENS (for himself and Mr. Bean of Florida), H4108 [14JN] H.R. 8762 — A bill to amend title 10, United States Code, to provide for the membership of the Commandant of the Coast Guard on the Joint Chiefs of Staff; to the Committee on Armed Services, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. PELTOLA (for herself, Mr. Garamendi, Mrs. González-Colón, and Mr. Austin Scott of Georgia), H4108 [14JN] H.R. 8763 — A bill to provide grants to States to encourage the implementation and maintenance of firearms licensing requirements, and for other purposes; to the Committee on the Judiciary. By Ms. PRESSLEY, H4108 [14JN] H.R. 8764 — A bill to require the Attorney General to make publicly available a list of federally licensed firearms dealers with a high number of short time-to-crime firearm traces, and to prohibit Federal departments and agencies from contracting with such dealers; to the Committee on the Judiciary, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. RASKIN (for himself, Ms. Barragán, Ms. Blunt Rochester, Ms. Brownley, Mr. Casten, Mr. Davis of Illinois, Mr. Frost, Ms. Garcia of Texas, Mr. Robert Garcia of California, Mr. Goldman of New York, Mr. Grijalva, Mrs. Hayes, Ms. Jackson Lee, Mr. Johnson of Georgia, Ms. Kelly of Illinois, Mr. Kim of New Jersey, Ms. Lee of California, Ms. Norton, Mr. Quigley, Mrs. Ramirez, and Mr. Trone), H4108 [14JN] Cosponsors added, H4116 [18JN] H.R. 8765 — A bill to amend the Food, Agriculture, Conservation, and Trade Act of 1990 with respect to emergency assistance for farm workers, and for other purposes; to the Committee on Agriculture. By Ms. SALINAS (for herself and Ms. Lofgren), H4108 [14JN] H.R. 8766 — A bill to amend title 4, United States Code, to allow for cemetery flags to be displayed in an upright position directly adjacent to the grave sites of deceased members of the Armed Forces or veterans, and for other purposes; to the Committee on the Judiciary. By Mr. STEIL (for himself, Mr. Bost, Mr. Bergman, and Mr. Van Orden), H4108 [14JN] H.R. 8767 — A bill to amend title XIX of the Social Security Act to remove the exclusion from medical assistance under the Medicaid program of items and services for patients in an institution for mental diseases; to the Committee on Energy and Commerce. By Mr. THANEDAR, H4108 [14JN] H.R. 8768 — A bill to authorize the Attorney General to make grants available to support State, Tribal, and local firearm destruction activities, and for other purposes; to the Committee on the Judiciary. By Ms. TOKUDA (for herself, Ms. Norton, Mr. Goldman of New York, Mrs. Ramirez, Ms. Tlaib, Mr. Moskowitz, Mr. Mullin, Mr. Thanedar, Mr. Raskin, Mr. Case, Mr. Magaziner, Mr. García of Illinois, Ms. Garcia of Texas, and Mr. Neguse), H4108 [14JN] H.R. 8769 — A bill to provide financial assistance to States and Indian Tribes for the development, implementation, improvement, or expansion of a flex-tech energy program to enhance manufacturing competitiveness, and for other purposes; to the Committee on Energy and Commerce. By Mr. TONKO, H4108 [14JN] H.R. 8770 — A bill to establish a grant program carried out by the Department of Homeland Security to fund university-based cybersecurity clinics at junior or community colleges, historically Black colleges and universities (HBCUs), Hispanic-serving institutions (HSIs), and other minority-serving institutions, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VEASEY (for himself and Mr. Pfluger), H4108 [14JN] H.R. 8771 — A bill making appropriations for the Department of State, foreign operations, and related programs for the fiscal year ending September 30, 2025, and for other purposes. By Mr. DIAZ-BALART, H4108 [14JN] Reported (H. Rept. 118–554), H4108 [14JN] H.R. 8772 — A bill making appropriations for the Legislative Branch for the fiscal year ending September 30, 2025, and for other purposes. By Mr. VALADAO, H4112 [18JN] Reported (H. Rept. 118–555) (action occurred on June 17, 2024), H4112 [18JN] H.R. 8773 — A bill making appropriations for the financial services and general government for the fiscal year ending September 30, 2025, and for other purposes. By Mr. JOYCE of Ohio, H4112 [18JN] Reported (H. Rept. 118–556) (action occurred on June 17, 2024), H4112 [18JN] H.R. 8774 — A bill making appropriations for the Department of Defense for the fiscal year ending September 30, 2025, and for other purposes. By Mr. CALVERT, H4112 [18JN] Reported (H. Rept. 118–557) (action occurred on June 17, 2024), H4112 [18JN] H.R. 8775 — A bill to require an assessment on manual operations for critical infrastructure, and for other purposes; to the Committee on Homeland Security, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. CRENSHAW (for himself and Mr. Magaziner), H4112 [18JN] H.R. 8776 — A bill to amend the Internal Revenue Code of 1986 to treat membership in a health care sharing ministry as a medical expense, and for other purposes; to the Committee on Ways and Means. By Mr. KELLY of Pennsylvania, H4112 [18JN] H.R. 8777 — A bill to rescind unobligated Covid-19 relief funds and certain infrastructure funds to offset the cost of the supplemental foreign assistance made available for fiscal year 2024, and for other purposes; to the Committee on Oversight and Accountability, and in addition to the Committees on Appropriations, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BEAN of Florida (for himself, Mr. Babin, Mr. Banks, Mr. Biggs, Mr. Bishop of North Carolina, Ms. Boebert, Mr. Burlison, Mr. Collins, Mr. Crane, Mr. Duncan, Mr. Dunn of Florida, Mr. Fitzgerald, Mr. Gaetz, Mr. Good of Virginia, Mr. Gooden of Texas, Mr. Grothman, Mr. Harris, Mr. LaMalfa, Mr. Luttrell, Mr. McClintock, Mr. Meuser, Mrs. Miller of Illinois, Mr. Mills, Mr. Moore of Alabama, Mr. Nehls, Mr. Norman, Mr. Owens, Mr. Posey, Mr. Self, Mr. Wenstrup, Mr. Fulcher, and Mr. Brecheen), H4112 [18JN] H.R. 8778 — A bill to waive the fee for the issuance of a passport for a family member of a member of the Armed Forces who is in a hospital or medical facility abroad, and for other purposes; to the Committee on Foreign Affairs. By Mr. CAREY (for himself and Ms. Spanberger), H4113 [18JN] H.R. 8779 — A bill to amend the Water Resources Development Act of 2018 to require projects in the Caloosahatchee River watershed, the St. Lucie River and estuary basin, and the Lake Okeechobee watershed that mitigate harmful algal blooms and nutrient pollution by removing algae and converting the algae biomass into biofuel, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. DONALDS (for himself and Mr. Mast), H4113 [18JN] H.R. 8780 — A bill to direct the Attorney General to authorize the youth gun violence prevention program; to the Committee on Education and the Workforce. By Mr. GOLDMAN of New York (for himself and Mr. Gomez), H4113 [18JN] H.R. 8781 — A bill to prohibit the implementation of the Proposed Resource Management Plan Amendment and Final Supplemental Environmental Impact Statement for Federal coal managed by the Buffalo, Wyoming Field Office of the Bureau of Land Management; to the Committee on Natural Resources. By Ms. HAGEMAN, H4113 [18JN] H.R. 8782 — A bill to extend the obligation deadline of funds made available to recipients under the American Rescue Plan Act for the purposes of supporting homeless children and youth; to the Committee on Education and the Workforce. By Ms. JACOBS (for herself and Mr. Bacon), H4113 [18JN] H.R. 8783 — A bill to reauthorize the Northwest Straits Marine Conservation Initiative Act to promote the protection of the resources of the Northwest Straits, and for other purposes; to the Committee on Natural Resources. By Mr. LARSEN of Washington (for himself, Ms. DelBene, Mr. Kilmer, Ms. Strickland, Mr. Smith of Washington, and Ms. Jayapal), H4113 [18JN] H.R. 8784 — A bill to require each agency to evaluate the permitting system of the agency, to consider whether a permit by rule could replace that system, and for other purposes; to the Committee on Oversight and Accountability. By Ms. MALOY (for herself, Mrs. Chavez-DeRemer, Mr. Newhouse, Mrs. Peltola, Mr. LaTurner, Mr. Pfluger, Mr. Fong, Mr. Curtis, Mr. Gosar, Mr. Stauber, Mr. Arrington, Mr. Moore of Utah, Mrs. Fischbach, and Mr. Zinke), H4113 [18JN] H.R. 8785 — A bill to amend the Internal Revenue Code of 1986 to provide that tips shall not be subject to income or employment taxes; to the Committee on Ways and Means. By Mr. MASSIE (for himself, Mr. Gaetz, and Ms. Greene of Georgia), H4113 [18JN] H.R. 8786 — A bill to allow certain foreign air carriers to stop in Guam or the Northern Mariana Islands in the course of transportation of passengers or cargo in either direction between a place in the United States and a place outside the United States, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. MOYLAN (for himself and Mr. Sablan), H4113 [18JN] H.R. 8787 — A bill to establish a demonstration program for the active remediation of orbital debris and to require the development of uniform orbital debris standard practices in order to support a safe and sustainable orbital environment, and for other purposes; to the Committee on Science, Space, and Technology. By Mr. NEGUSE (for himself, Mrs. Miller of West Virginia, Mr. Carbajal, and Mr. Bergman), H4113 [18JN] H.R. 8788 — A bill to amend the Magnuson-Stevens Fishery Conservation and Management Act to establish the Fisheries and Ecological Resilience Program and to direct the Comptroller General of the United States to submit to Congress a report on the competitiveness of domestic seafood producers in domestic and global seafood trade; to the Committee on Natural Resources, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. PELTOLA, H4113 [18JN] H.R. 8789 — A bill to require benefit eligibility determinations to be made within a certain period of time; to the Committee on the Judiciary. By Mr. WEBER of Texas, H4113 [18JN] H.R. 8790 — A bill to expedite under the National Environmental Policy Act of 1969 and improve forest management activities on National Forest System lands, on public lands under the jurisdiction of the Bureau of Land Management, and on Tribal lands to return resilience to overgrown, fire-prone forested lands, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Agriculture, and Science, Space, and Technology, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WESTERMAN (for himself, Mr. Peters, Mr. Tiffany, Mr. Panetta, Mr. Stauber, Mr. Costa, Mr. McClintock, Mr. Cárdenas, Mr. Curtis, Mr. Bera, Mr. Duarte, Mr. Moylan, and Mr. Gosar), H4113 [18JN] H.R. 8791 — A bill to provide for the settlement of the water rights claims of the Fort Belknap Indian Community, and for other purposes; to the Committee on Natural Resources. By Mr. ZINKE, H4113 [18JN] H.R. 8792 — A bill to establish a flower ordering program for gravesites under the purview of the American Battle Monuments Commission; to the Committee on Veterans’ Affairs. By Mr. ZINKE, H4113 [18JN] H.J. Res. 8 — A joint resolution proposing an amendment to the Constitution of the United States to require that the Supreme Court of the United States be composed of nine justices; to the Committee on the Judiciary. Cosponsors added, H1355 [21MR], H2291 [10AP], H3000 [8MY] H.J. Res. 11 — A joint resolution proposing an amendment to the Constitution of the United States to limit the number of terms that a Member of Congress may serve; to the Committee on the Judiciary. Cosponsors added, H538 [7FE] H.J. Res. 13 — A joint resolution proposing an amendment to the Constitution of the United States relating to the authority of Congress and the States to regulate contributions and expenditures intended to affect elections and to enact public financing systems for political campaigns; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H109 [11JA], H133 [12JA], H190 [17JA], H242 [18JA], H247 [22JA], H505 [6FE], H694 [23FE], H1500 [22MR], H2121 [26MR], H3206 [14MY] H.J. Res. 16 — A joint resolution proposing an amendment to the Constitution of the United States extending the right to vote to citizens sixteen years of age or older; to the Committee on the Judiciary. Cosponsors added, H544 [9FE] H.J. Res. 18 — A joint resolution to authorize the use of United States Armed Forces against those responsible for trafficking fentanyl or a fentanyl-related substance into the United States or carrying out other related activities that cause regional destabilization in the Western Hemisphere; to the Committee on Foreign Affairs. Cosponsors added, H1237 [19MR] H.J. Res. 25 — A joint resolution removing the deadline for the ratification of the equal rights amendment; to the Committee on the Judiciary. Cosponsors added, H390 [1FE], H1500 [22MR], H2131 [29MR], H3526 [23MY], H3675 [5JN] H.J. Res. 33 — A joint resolution to acknowledge the courage and sacrifice of veterans of the Vietnam War and formally apologize for the treatment they received upon returning home; to the Committee on Veterans’ Affairs, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2876 [6MY] H.J. Res. 37 — A joint resolution proposing an amendment to the Constitution of the United States to provide that Representatives shall be apportioned among the several States according to their respective numbers, counting the number of persons in each State who are citizens of the United States; to the Committee on the Judiciary. Cosponsors added, H14 [9JA], H109 [11JA], H190 [17JA], H505 [6FE], H775 [29FE], H1237 [19MR] H.J. Res. 51 — A joint resolution proposing an amendment to the Constitution of the United States to limit the number of consecutive terms that a Member of Congress may serve; to the Committee on the Judiciary. Cosponsors added, H2445 [16AP] H.J. Res. 53 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Control of Air Pollution From New Motor Vehicles: Heavy-Duty Engine and Vehicle Standards’’; to the Committee on Energy and Commerce. Cosponsors added, H3976 [12JN] H.J. Res. 54 — A joint resolution proposing an amendment to the Constitution of the United States providing that the rights protected and extended by the Constitution are the rights of natural persons only; to the Committee on the Judiciary. Cosponsors added, H148 [16JA], H274 [29JA], H583 [13FE], H1094 [11MR], H2291 [10AP], H2319 [11AP], H2445 [16AP], H2503 [17AP], H3206 [14MY], H3976 [12JN] H.J. Res. 59 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Adverse Effect Wage Rate Methodology for the Temporary Employment of H-2A Nonimmigrants in Non-Range Occupations in the United States’’; to the Committee on the Judiciary. Cosponsors added, H133 [12JA], H697 [26FE] H.J. Res. 62 — A joint resolution providing for the reappointment of Michael Govan as a citizen regent of the Board of Regents of the Smithsonian Institution; to the Committee on House Administration. Approved [Public Law 118–28] (signed December 21, 2023) H.J. Res. 63 — A joint resolution providing for the appointment of Antoinette Bush as a citizen regent of the Board of Regents of the Smithsonian Institution; to the Committee on House Administration. Approved [Public Law 118–29] (signed December 21, 2023) H.J. Res. 64 — A joint resolution providing for the reappointment of Roger W. Ferguson as a citizen regent of the Board of Regents of the Smithsonian Institution; to the Committee on House Administration. Approved [Public Law 118–30] (signed December 21, 2023) H.J. Res. 72 — A joint resolution proposing an amendment to the Constitution of the United States to prohibit the use of slavery and involuntary servitude as a punishment for a crime; to the Committee on the Judiciary. Cosponsors added, H390 [1FE], H433 [5FE], H694 [23FE], H1058 [8MR], H2121 [26MR], H2143 [5AP], H2560 [19AP], H3728 [11JN], H3976 [12JN], H4110 [14JN], H4116 [18JN] H.J. Res. 73 — A joint resolution proposing an amendment to the Constitution of the United States giving Congress power to prohibit the physical desecration of the flag of the United States; to the Committee on the Judiciary. Cosponsors added, H4116 [18JN] H.J. Res. 76 — A joint resolution redesignating the Robert E. Lee Memorial in Arlington National Cemetery as the ‘‘Arlington House National Historic Site’’; to the Committee on Veterans’ Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H544 [9FE], H775 [29FE], H825 [5MR], H1500 [22MR], H2131 [29MR], H2143 [5AP], H3331 [16MY], H3358 [17MY], H3400 [21MY], H3486 [22MY], H3543 [31MY], H3675 [5JN], H3682 [7JN], H3728 [11JN], H3976 [12JN], H4064 [13JN] H.J. Res. 78 — A joint resolution proposing an amendment to the Constitution of the United States to set limits on Federal campaign contributions and spending, prohibit corporate spending in the political process, require Congress to develop a system of public campaign financing for all Federal candidates who qualify for the ballot, and allow the States to set reasonable limits on campaign contributions and spending in State and local elections, and for other purposes; to the Committee on the Judiciary. Cosponsors added, H190 [17JA] H.J. Res. 80 — A joint resolution proposing a balanced budget amendment to the Constitution of the United States; to the Committee on the Judiciary. Cosponsors added, H433 [5FE] H.J. Res. 82 — A joint resolution expressing the sense of Congress that the article of amendment commonly known as the ‘‘Equal Rights Amendment’’ has been validly ratified and is enforceable as the Twenty-Eighth Amendment to the United States Constitution, and the Archivist of the United States must certify and publish the Equal Rights Amendment as the Twenty-Eighth Amendment without delay; to the Committee on the Judiciary. Cosponsors added, H254 [25JA], H366 [31JA], H1094 [11MR], H1298 [20MR], H2254 [9AP], H2445 [16AP], H2503 [17AP], H3000 [8MY], H3206 [14MY], H3275 [15MY], H3331 [16MY], H3400 [21MY], H3526 [23MY], H3728 [11JN], H4064 [13JN], H4110 [14JN] H.J. Res. 84 — A joint resolution designating a ‘‘Slavery Remembrance Day’’ on August 20, to serve as a reminder of the evils of slavery; to the Committee on Oversight and Accountability. Cosponsors added, H694 [23FE] H.J. Res. 96 — A joint resolution to approve the 2023 Agreement to Amend the U.S.-FSM Compact, and related agreements, between the Government of the United States of America and the Government of the Federated States of Micronesia, the 2023 Agreement to Amend the U.S.-RMI Compact, and certain related agreements between the Government of the United States of America and the Government of the Republic of the Marshall Islands, and the 2023 U.S.-Palau Compact Review Agreement between the Government of the United States of America and the Government of the Republic of Palau, to appropriate funds to carry out the agreements, and for other purposes; to the Committee on Natural Resources, and in addition to the Committees on Foreign Affairs, Education and the Workforce, Veterans’ Affairs, Oversight and Accountability, Agriculture, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H782 [1MR], H1001 [6MR] H.J. Res. 97 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Justice relating to ‘‘Office of the Attorney General; Home Confinement Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act’’; to the Committee on the Judiciary. Cosponsors added, H3331 [16MY], H3358 [17MY], H3400 [21MY] H.J. Res. 98 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Labor Relations Board relating to ‘‘Standard for Determining Joint Employer Status’’; to the Committee on Education and the Workforce. Providing for consideration (H. Res. 947), H12 [9JA] Debated, H112 [12JA] Text, H113 [12JA] Passed House, H124 [12JA] Message from the House, S121 [16JA], S2931 [19AP], S3593 [8MY] Passed Senate, S2701 [10AP] Message from the Senate, H2371 [15AP] Presidential veto message, H2840 [6MY] Consideration of Presidential veto message, H2891 [7MY] Failed of passage. Veto of the President sustained, H2908 [7MY] Examined and signed in the House, H2556 [19AP] Examined and signed in the Senate, S2931 [19AP] Presented to the President (May 1, 2024), H2994 [8MY] H.J. Res. 99 — A joint resolution to amend the Federal Food, Drug, and Cosmetic Act to exempt the premium cigar industry from certain regulations; to the Committee on Energy and Commerce. Cosponsors added, H3657 [4JN] H.J. Res. 103 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Updating the Davis-Bacon and Related Acts Regulation’’; to the Committee on Education and the Workforce. Cosponsors added, H1094 [11MR] H.J. Res. 107 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Communications Commission relating to ‘‘The Infrastructure Investment and Jobs Act: Prevention and Elimination of Digital Discrimination’’; to the Committee on Energy and Commerce. By Mr. CLYDE (for himself, Mr. Carter of Georgia, Mr. Edwards, Ms. Foxx, Mr. Ogles, Mr. Moolenaar, Mr. Self, Mr. Palmer, Mrs. Cammack, Mr. Joyce of Pennsylvania, Mr. Dunn of Florida, Mr. Amodei, Mr. Obernolte, Mr. Gallagher, Mr. Loudermilk, Mr. Duncan, Mr. Good of Virginia, Mr. Pfluger, Mr. Gosar, Mr. Perry, Mrs. Miller of Illinois, Mr. Pence, Mr. Posey, Mr. Norman, Mr. Scott Franklin of Florida, Mr. Rose, Mr. Weber of Texas, Mr. Bucshon, Mr. Fulcher, Mr. Kustoff, Mr. Bilirakis, Mr. Crenshaw, Mr. Curtis, Mr. Fleischmann, Ms. Hageman, Mr. Fallon, Mr. LaMalfa, Mrs. Miller-Meeks, Mr. Biggs, Mr. Smucker, Mr. Meuser, Mr. Babin, Mr. Rutherford, Mr. Brecheen, Mr. Baird, Mrs. Lesko, Mr. Cloud, Mr. McCormick, Mr. Wenstrup, Mr. Ezell, Mr. Barr, Mrs. Spartz, Mr. Bost, Mr. LaTurner, Mr. Balderson, Mr. Hudson, Mr. Grothman, Mr. Nehls, Ms. Boebert, Mr. Burchett, Mr. Carey, Mr. Walberg, Mr. Timmons, Mr. Williams of Texas, Mr. Kelly of Mississippi, Mr. Roy, and Mrs. Harshbarger), H316 [30JA] Cosponsors added, H433 [5FE], H640 [14FE], H739 [28FE], H825 [5MR], H1182 [13MR], H2702 [29AP], H2939 [7MY] H.J. Res. 108 — A joint resolution providing for congressional disapproval of the proposed foreign military sale to the Republic of Kosovo of certain defense articles and services; to the Committee on Foreign Affairs. By Ms. TENNEY, H316 [30JA] H.J. Res. 109 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to ‘‘Staff Accounting Bulletin No. 121’’; to the Committee on Financial Services. By Mr. FLOOD (for himself and Mr. Nickel), H388 [1FE] Cosponsors added, H825 [5MR] Reported (H. Rept. 118–480), H2827 [1MY] Providing for consideration (H. Res. 1194), H2873 [6MY] Debated, H2950 [8MY] Text, H2950 [8MY] Passed House, H2981 [8MY] Message from the House, S3650 [9MY], S3849 [22MY] Passed Senate, S3741 [16MY] Message from the Senate, H3363 [21MY] Presidential veto message, H3548 [3JN] Examined and signed in the House, H3481 [22MY] Examined and signed in the Senate, S3883 [23MY] H.J. Res. 110 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to ‘‘Coronavirus State and Local Fiscal Recovery Funds’’; to the Committee on Oversight and Accountability. By Mr. BALDERSON (for himself, Mr. Hern, Mr. Cline, Mr. Cloud, Mr. Weber of Texas, Mr. Edwards, Mr. Donalds, Mr. Moolenaar, Mr. Clyde, Mr. Grothman, Mr. LaMalfa, Mrs. Cammack, Ms. Hageman, Ms. Van Duyne, and Mr. Duncan), H388 [1FE] Cosponsors added, H583 [13FE], H739 [28FE], H825 [5MR] H.J. Res. 111 — A joint resolution disapproving the rule submitted by the Department of Energy relating to ‘‘Energy Conservation Program: Energy Conservation Standards for Consumer Furnaces’’; to the Committee on Energy and Commerce. By Mrs. FISCHBACH (for herself, Mr. Fallon, Mr. Reschenthaler, Mr. Ellzey, Mr. Self, Mr. Posey, Mr. Crenshaw, Mr. Ogles, Ms. Stefanik, Mr. Jackson of Texas, Mr. Clyde, Mrs. Miller of Illinois, Mr. Lamborn, Mr. Rosendale, Ms. Van Duyne, Ms. Tenney, Mr. Kustoff, Mr. Langworthy, Mr. Rouzer, Ms. Hageman, Mr. Weber of Texas, Mrs. Harshbarger, Mr. Van Drew, Mr. Grothman, Mr. Newhouse, Mrs. Lesko, Mr. Bost, Mr. Rose, Mr. Palmer, Mr. Stauber, Mrs. Miller of West Virginia, Mr. Moolenaar, Mr. Finstad, Mr. Hudson, Mr. Norman, Mr. Estes, and Ms. Boebert), H388 [1FE] Cosponsors added, H538 [7FE], H782 [1MR], H1035 [7MR], H1150 [12MR], H2254 [9AP], H3657 [4JN], H3976 [12JN] H.J. Res. 112 — A joint resolution expressing support for designation of the week of February 5, 2024, through February 9, 2024, as ‘‘National School Counseling Week’’; to the Committee on Education and the Workforce. By Ms. SÁNCHEZ (for herself, Mr. Kim of New Jersey, Mr. Bowman, Mr. Lynch, Mr. Davis of Illinois, Mr. Panetta, Mrs. Dingell, Mr. Bishop of Georgia, Ms. Tokuda, Ms. Norton, Mr. Trone, Mrs. Hayes, and Mr. Grijalva), H431 [5FE] H.J. Res. 113 — A joint resolution proposing a balanced budget amendment to the Constitution of the United States; to the Committee on the Judiciary. By Mr. ARRINGTON (for himself, Mr. Yakym, Mr. Estes, Mr. Burchett, Mr. Ellzey, Mr. Duncan, and Mr. Huizenga), H536 [7FE] Cosponsors added, H2368 [12AP], H3331 [16MY] H.J. Res. 114 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitting by the Federal Highway Administration relating to ‘‘National Performance Management Measures; Assessing Performance of the National Highway System, Greenhouse Gas Emissions Measure’’; to the Committee on Transportation and Infrastructure. By Mr. CRAWFORD (for himself, Mr. Graves of Missouri, Mr. Bost, Mr. Stauber, Mr. Owens, Mr. Bean of Florida, Mr. Collins, Mrs. Miller of Illinois, Mr. Ezell, Mr. Donalds, Mr. Burchett, Mr. Ellzey, Mr. Moolenaar, Mrs. Bice, Mr. Van Orden, Mr. Womack, Mr. Posey, Ms. Van Duyne, Mr. Ogles, Mrs. Miller of West Virginia, Mr. Rouzer, Mr. Weber of Texas, Mr. Balderson, Mr. Bergman, Mr. LaMalfa, Ms. Maloy, Mr. Jackson of Texas, Mr. Williams of New York, Mr. LaTurner, Mr. Norman, Mr. Wenstrup, Mr. Fitzgerald, Mr. Perry, Mr. Van Drew, Mr. Finstad, Mr. Yakym, Mr. Smith of Nebraska, Mr. Edwards, Mr. Flood, Mr. Burlison, Mr. Fleischmann, Mr. Feenstra, Ms. Foxx, Ms. Hageman, Mr. Babin, Mr. Hill, Mr. Graves of Louisiana, Mr. Nehls, Mr. Westerman, Mr. Johnson of South Dakota, Mr. Duarte, Mr. Rosendale, Mr. Newhouse, Mr. Carl, Mr. Fulcher, Mr. Carey, Mr. Kean of New Jersey, Mr. Armstrong, Mr. Mast, Mr. Carter of Georgia, Mr. Webster of Florida, Mrs. Harshbarger, Mr. Mann, and Mrs. Rodgers of Washington), H536 [7FE] Cosponsors added, H640 [14FE], H694 [23FE] H.J. Res. 115 — A joint resolution disapproving the rule submitted by the Department of Agriculture relating to ‘‘Importation of Fresh Beef From Paraguay’’; to the Committee on Agriculture. By Mr. JACKSON of Texas (for himself, Ms. Caraveo, Mr. Lucas, Mr. LaMalfa, Mr. Rouzer, Mr. Bacon, Mr. Bost, Mr. Feenstra, Mrs. Miller of Illinois, Mr. Moore of Alabama, Mr. Finstad, Mr. Rose, Mrs. Chavez-DeRemer, Mr. Nehls, Mrs. Bice, Mr. Norman, Mr. Babin, Mr. Lawler, Mr. Flood, and Mr. Pfluger), H686 [20FE] Cosponsors added, H775 [29FE], H782 [1MR], H1001 [6MR], H2254 [9AP], H2560 [19AP], H2629 [23AP] H.J. Res. 116 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Labor relating to ‘‘Employee or Independent Contractor Classification Under the Fair Labor Standards Act’’; to the Committee on Education and the Workforce. By Mr. KILEY (for himself, Ms. Foxx, Ms. Stefanik, Mr. Davidson, Mrs. Steel, Mr. Moolenaar, Mr. Curtis, Mr. Issa, Mr. Cloud, Mrs. Hinson, Mr. Allen, Mr. Gooden of Texas, Mr. Perry, Mr. Obernolte, Mr. Smith of Nebraska, Mr. Hill, Mr. Ogles, Ms. Letlow, Mr. Donalds, Mr. Mann, Mr. Ferguson, Mr. Palmer, Mr. Wilson of South Carolina, Mr. Flood, Mrs. Miller of Illinois, Mr. Loudermilk, Mr. Webster of Florida, Mr. Rouzer, Mr. Estes, Mr. Cline, Mr. Good of Virginia, Mr. Grothman, Mrs. Kim of California, Mr. Dunn of Florida, Mr. Owens, Mrs. Lesko, Mr. Self, Mr. Guthrie, Mr. Kean of New Jersey, Mrs. McClain, Mr. Thompson of Pennsylvania, Mr. Bean of Florida, Mr. Fulcher, Mr. Williams of New York, Mr. Babin, Mr. Walberg, Mr. Burlison, Mr. Moran, Mr. Norman, Ms. Tenney, Mr. Womack, Mr. Timmons, Mr. Austin Scott of Georgia, Mr. Williams of Texas, and Mr. Rosendale), H999 [6MR] Cosponsors added, H1190 [15MR], H1237 [19MR], H1298 [20MR], H1355 [21MR], H2131 [29MR] Reported (H. Rept. 118–445), H2140 [5AP] H.J. Res. 117 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Reconsideration of the National Ambient Air Quality Standards for Particulate Matter’’; to the Committee on Energy and Commerce. By Mr. ALLEN (for himself, Mr. Baird, and Mr. Cline), H999 [6MR] Cosponsors added, H1059 [8MR], H1094 [11MR], H1150 [12MR], H1182 [13MR], H1237 [19MR], H1298 [20MR], H1355 [21MR], H1500 [22MR], H2121 [26MR], H2143 [5AP], H2291 [10AP], H2771 [30AP], H3531 [24MY] H.J. Res. 118 — A joint resolution proposing an amendment to the Constitution of the United States to temporarily fill vacancies in the House of Representatives to further the continuity of Congress; to the Committee on the Judiciary. By Mr. KILMER (for himself, Mr. Wenstrup, Mr. Timmons, and Mr. Cleaver), H1033 [7MR] H.J. Res. 119 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to ‘‘Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews’’; to the Committee on Financial Services. By Mr. MOONEY (for himself, Mr. Meuser, Mr. Ogles, and Mr. Hill), H1353 [21MR] H.J. Res. 120 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Financial Stability Oversight Council related to ‘‘Guidance on Nonbank Financial Company Determinations’’; to the Committee on Financial Services. By Mr. HILL, H1498 [22MR] Cosponsors added, H2399 [15AP], H2560 [19AP] H.J. Res. 121 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to ‘‘Credit Card Penalty Fees (Regulation Z)’’; to the Committee on Financial Services. By Mr. OGLES, H2120 [26MR] Cosponsors added, H2131 [29MR], H2136 [2AP], H2445 [16AP] H.J. Res. 122 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to ‘‘Credit Card Penalty Fees (Regulation Z)’’; to the Committee on Financial Services. By Mr. BARR (for himself, Mr. Luetkemeyer, Mrs. Wagner, Mr. Posey, and Mr. Sessions), H2128 [29MR] Cosponsors added, H2319 [11AP], H2445 [16AP], H2523 [18AP] H.J. Res. 123 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Accidental Release Prevention Requirements: Risk Management Programs Under the Clean Air Act; Safer Communities by Chemical Accident Prevention’’; to the Committee on Energy and Commerce. By Mr. CRENSHAW (for himself, Mr. Fleischmann, Mr. Pfluger, Mr. Carter of Georgia, Mr. Pence, Mr. Balderson, Mr. Weber of Texas, Mr. Joyce of Pennsylvania, Mr. Armstrong, Mr. Latta, Mr. Allen, Mr. Curtis, Mr. Fulcher, Mr. Babin, Mr. Moolenaar, Mr. Griffith, Mr. Duncan, Mr. Bilirakis, and Mr. Palmer), H2129 [29MR] Cosponsors added, H2136 [2AP], H2143 [5AP], H2254 [9AP], H3331 [16MY], H3358 [17MY], H3400 [21MY], H3657 [4JN], H4110 [14JN] H.J. Res. 124 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to ‘‘Principles for Climate-Related Financial Risk Management for Large Financial Institutions’’; to the Committee on Financial Services. By Mr. DONALDS (for himself, Mr. Nehls, Mr. Perry, Mr. Ogles, Mr. Weber of Texas, Mr. Biggs, Mr. Meuser, and Mr. Huizenga), H2141 [5AP] Cosponsors added, H2254 [9AP], H2291 [10AP], H2636 [26AP] H.J. Res. 125 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Board of Governors of the Federal Reserve System relating to ‘‘Principles for Climate-Related Financial Risk Management for Large Financial Institutions’’; to the Committee on Financial Services. By Mr. FITZGERALD (for himself, Mr. Meuser, Mr. Mooney, Mr. Lucas, Mr. Hill, and Mr. Donalds), H2141 [5AP] Cosponsors added, H2254 [9AP], H2445 [16AP], H2503 [17AP] H.J. Res. 126 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to ‘‘Principles for Climate-Related Financial Risk Management for Large Financial Institutions’’; to the Committee on Financial Services. By Mrs. HOUCHIN (for herself, Mr. Hill, and Mr. Donalds), H2141 [5AP] Cosponsors added, H2319 [11AP], H2445 [16AP], H2560 [19AP] H.J. Res. 127 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to ‘‘The Enhancement and Standardization of Climate-Related Disclosures for Investors’’; to the Committee on Financial Services. By Mr. HUIZENGA (for himself, Mr. Lucas, Mr. Sessions, Mr. Posey, Mr. Luetkemeyer, Mrs. Wagner, Mr. Barr, Mr. Williams of Texas, Mr. Hill, Mr. Emmer, Mr. Mooney, Mr. Davidson, Mr. Rose, Mr. Steil, Mr. Timmons, Mr. Norman, Mr. Meuser, Mr. Donalds, Mr. Flood, Mr. Nunn of Iowa, Ms. De La Cruz, and Mr. Ogles), H2251 [9AP] Cosponsors added, H2291 [10AP], H2368 [12AP], H2399 [15AP], H2445 [16AP], H2560 [19AP], H2629 [23AP], H2636 [26AP] H.J. Res. 128 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Standards of Performance for New, Reconstructed, and Modified Sources and Emissions Guidelines for Existing Sources: Oil and Natural Gas Sector Climate Review’’; to the Committee on Energy and Commerce. By Mr. ARRINGTON (for himself, Mr. Pfluger, Mr. Mann, Mr. Collins, Mr. Roy, Mrs. Miller of Illinois, Mr. Gooden of Texas, Mr. Lamborn, Mr. Moolenaar, Ms. Boebert, Mr. Rouzer, Mr. Ogles, Mr. Issa, Mr. Armstrong, Mr. Hudson, and Mr. Weber of Texas), H2317 [11AP] Cosponsors added, H2368 [12AP], H2771 [30AP], H4064 [13JN] H.J. Res. 129 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Departments of Labor, the Treasury, and Health and Human Services relating to ‘‘Short-Term, Limited-Duration Insurance and Independent, Noncoordinated Excepted Benefits Coverage’’; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SELF (for himself, Mr. Roy, Mrs. Harshbarger, Mr. Crenshaw, Mr. Tiffany, Mr. Brecheen, and Mr. Ogles), H2521 [18AP] Cosponsors added, H3007 [10MY] H.J. Res. 130 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Railroad Administration relating to ‘‘Train Crew Size Safety Requirements’’; to the Committee on Transportation and Infrastructure. By Mr. BURLISON (for himself, Mr. Perry, and Mr. Weber of Texas), H2558 [19AP] Cosponsors added, H2629 [23AP], H2939 [7MY], H3728 [11JN] H.J. Res. 131 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles’’; to the Committee on Energy and Commerce. By Mr. CLYDE (for himself, Mr. Mooney, Mr. Hunt, Mr. Ogles, Mr. Jackson of Texas, Mr. Lamborn, Mr. Rutherford, Mr. Waltz, Mr. Donalds, Ms. Tenney, Mr. DesJarlais, Mr. Good of Virginia, Mr. Guest, Mr. Mann, Mrs. Miller of Illinois, Mr. Obernolte, Mr. Rosendale, Mr. Grothman, Mr. Gooden of Texas, Ms. Boebert, Mr. Burlison, Mr. LaMalfa, Mr. Estes, Mr. Norman, Mr. Harris, Mr. Moran, Mr. Sessions, Mr. McCormick, Mr. Roy, Mr. Crane, and Mr. Loudermilk), H2635 [26AP] Cosponsors added, H3400 [21MY] H.J. Res. 132 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Defense, the General Services Administration, and the National Aeronautics and Space Administration relating to the ‘‘Federal Acquisition Regulation: Use of Project Labor Agreements for Federal Construction Projects’’; to the Committee on Oversight and Accountability. By Mr. HIGGINS of Louisiana, H2700 [29AP] Cosponsors added, H2831 [1MY] H.J. Res. 133 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Greenhouse Gas Emissions Standards for Heavy-Duty Vehicles-Phase 3’’; to the Committee on Energy and Commerce. By Mr. FULCHER (for himself, Mr. Nehls, Mr. Tiffany, Mr. Armstrong, Mr. Joyce of Pennsylvania, Mr. Ogles, Mr. Carter of Georgia, Mr. Walberg, Mrs. Lesko, Mr. Balderson, Mr. Rutherford, Mr. Stauber, Mr. Wenstrup, Mr. Perry, Mr. Meuser, Mr. Hudson, Mr. Carey, Mrs. Miller of Illinois, Mrs. Harshbarger, Mr. Weber of Texas, Mr. Tony Gonzales of Texas, Mr. Reschenthaler, Mr. Bost, Mr. Fleischmann, Mr. Grothman, Mr. Babin, Mr. Crawford, Mr. Graves of Louisiana, Mr. Palmer, Mr. Austin Scott of Georgia, Mr. Burchett, Ms. Stefanik, Ms. Boebert, Mr. Bean of Florida, Mr. Newhouse, Mr. Smith of Nebraska, Mr. Moolenaar, Mr. Dunn of Florida, Mr. Collins, Mr. Obernolte, and Mr. Thompson of Pennsylvania), H2828 [1MY] Cosponsors added, H3526 [23MY], H3728 [11JN], H4064 [13JN] H.J. Res. 134 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Improving Protections for Workers in Temporary Agricultural Employment in the United States’’; to the Committee on the Judiciary. By Mr. ARMSTRONG (for himself, Mr. Johnson of South Dakota, and Mr. Bentz), H2829 [1MY] Cosponsors added, H2876 [6MY], H3007 [10MY], H3275 [15MY], H3331 [16MY], H3400 [21MY], H3486 [22MY], H3526 [23MY] H.J. Res. 135 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Improving Protections for Workers in Temporary Agricultural Employment in the United States’’; to the Committee on the Judiciary. By Mr. SCOTT FRANKLIN of Florida (for himself, Mr. Moolenaar, Mr. Gimenez, Mr. Rutherford, Mr. Cline, Mr. Bean of Florida, Mr. Dunn of Florida, Mr. Bilirakis, Mr. Webster of Florida, Mr. Austin Scott of Georgia, Mr. Carl, Mr. Donalds, Mr. Higgins of Louisiana, and Mr. Meuser), H2829 [1MY] Cosponsors added, H2836 [2MY], H2876 [6MY], H2939 [7MY], H3000 [8MY], H3007 [10MY], H3206 [14MY], H3400 [21MY], H3526 [23MY], H3728 [11JN] H.J. Res. 136 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Multi-Pollutant Emissions Standards for Model Years 2027 and Later Light-Duty and Medium-Duty Vehicles’’; to the Committee on Energy and Commerce. By Mr. JAMES (for himself, Mrs. Miller of Illinois, Mr. Donalds, Mr. Walberg, Mr. Duarte, Ms. Stefanik, Mr. Hudson, Mr. Guthrie, Mr. Hern, Mr. Bergman, Mr. Reschenthaler, Mr. Duncan, Mrs. McClain, Mr. Carter of Georgia, Mr. Joyce of Pennsylvania, Mr. Perry, Mr. Rosendale, Mr. Allen, Mr. Carey, Mr. Latta, Mr. Smith of Nebraska, Mr. Fulcher, Mr. Curtis, Mr. Ogles, Mr. Feenstra, Mr. Sessions, Mr. Fitzgerald, Mr. Pence, Mr. Nunn of Iowa, Mr. Dunn of Florida, Mr. D’Esposito, Mr. Tony Gonzales of Texas, Mr. Timmons, Mr. Banks, Mr. Hunt, Mr. Collins, Mrs. Bice, Mr. Mooney, Mr. Obernolte, Mr. Harris, Mrs. Miller of West Virginia, Mr. Armstrong, Mr. Mann, Mr. Pfluger, Mr. Weber of Texas, Mr. Balderson, Mr. Huizenga, Mr. Crenshaw, Mr. Guest, Mr. Meuser, Mr. Miller of Ohio, Mr. Cloud, Mr. Fleischmann, Mr. Newhouse, Mr. Austin Scott of Georgia, Mrs. Cammack, Mr. Grothman, Mr. Finstad, Mrs. Houchin, Mr. Rose, Mr. Williams of Texas, Mr. LaMalfa, Mr. Kelly of Pennsylvania, Mr. Bean of Florida, Mr. Zinke, Mr. Ezell, Mr. Burchett, Mr. Crawford, Mr. Graves of Missouri, Mr. Babin, Mr. Fallon, Mr. Westerman, Mr. Nehls, Mr. Posey, Mr. Scott Franklin of Florida, Mr. Moolenaar, Mr. Bilirakis, Mrs. Kiggans of Virginia, Mr. Higgins of Louisiana, Mrs. Wagner, Mrs. Miller-Meeks, Mr. Mast, Mr. Self, Ms. Hageman, Mrs. Hinson, Mr. Bishop of North Carolina, Mr. Thompson of Pennsylvania, Mr. Bost, Mrs. Fischbach, Mr. Gooden of Texas, Mr. Arrington, Mrs. Harshbarger, Mr. Tiffany, Mr. Rutherford, Mr. Alford, Mr. Good of Virginia, Mr. Fry, Mr. Flood, Mr. Kelly of Mississippi, Mr. Wenstrup, Mr. McCormick, Mr. Roy, Mr. Bucshon, Mr. Graves of Louisiana, Mr. Ellzey, Mr. Jackson of Texas, Mr. Rouzer, Mrs. Lesko, Ms. Lee of Florida, Mr. Barr, Mr. Womack, Mr. Loudermilk, Mr. Lamborn, Mr. Simpson, Mr. Griffith, Mr. Palmer, Mr. Amodei, and Mr. Issa), H2829 [1MY] Cosponsors added, H3007 [10MY], H3206 [14MY], H3275 [15MY], H3400 [21MY], H3526 [23MY], H3583 [3JN] H.J. Res. 137 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Short-Term, Limited-Duration Insurance and Independent, Noncoordinated Excepted Benefits Coverage’’; to the Committee on Energy and Commerce, and in addition to the Committees on Education and the Workforce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SELF (for himself, Mr. Roy, Mr. Brecheen, and Mr. Crenshaw), H2936 [7MY] Cosponsors added, H3007 [10MY] H.J. Res. 138 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Centers for Medicare & Medicaid Services relating to ‘‘Clarifying the Eligibility of Deferred Action for Childhood Arrivals (DACA) Recipients and Certain Other Noncitizens for a Qualified Health Plan through an Exchange, Advance Payments of the Premium Tax Credit, Cost-Sharing Reductions, and a Basic Health Program’’; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PFLUGER (for himself, Mrs. Fischbach, Mr. Bilirakis, Mr. Ellzey, Mr. Crenshaw, Mr. Duncan, Mr. Ogles, and Mr. Balderson), H2997 [8MY] Cosponsors added, H3206 [14MY], H3358 [17MY], H3400 [21MY], H3486 [22MY], H3526 [23MY], H3657 [4JN], H4064 [13JN], H4110 [14JN] H.J. Res. 139 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Centers for Medicare & Medicaid Services relating to ‘‘Medicare and Medicaid Programs: Minimum Staffing Standards for Long-Term Care Facilities and Medicaid Institutional Payment Transparency Reporting’’; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. FISCHBACH (for herself and Mr. Pence), H3005 [10MY] Cosponsors added, H3275 [15MY], H3331 [16MY], H3400 [21MY], H3583 [3JN], H3657 [4JN], H3682 [7JN], H4064 [13JN] H.J. Res. 140 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Amendment to Prohibited Transaction Exemption 2020-02’’; to the Committee on Education and the Workforce. By Mr. ALLEN (for himself, Mr. Sessions, Mr. Duncan, Mrs. Wagner, Mr. Norman, Mr. Donalds, Mr. Walberg, Mr. Hern, Mrs. Miller of West Virginia, Mr. Moolenaar, Mr. Smucker, Mr. Williams of Texas, Mr. Rutherford, Mr. Westerman, Mr. Banks, Ms. Letlow, Mr. Hill, Mr. Mann, Mrs. Bice, Mr. Nunn of Iowa, Mr. Finstad, Mr. Timmons, Mr. Joyce of Pennsylvania, Mr. Carter of Georgia, Mr. Kustoff, and Mr. Meuser), H3273 [15MY] Cosponsors added, H3331 [16MY], H3400 [21MY], H3583 [3JN], H3657 [4JN], H3675 [5JN], H3728 [11JN], H4064 [13JN] H.J. Res. 141 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Amendment to Prohibited Transaction Exemption 84-24’’; to the Committee on Education and the Workforce. By Mr. ALLEN (for himself, Mr. Sessions, Mr. Duncan, Mrs. Wagner, Mr. Norman, Mr. Donalds, Mr. Walberg, Mr. Hern, Mrs. Miller of West Virginia, Mr. Moolenaar, Mr. Smucker, Mr. Williams of Texas, Mr. Rutherford, Mr. Westerman, Mr. Banks, Ms. Letlow, Mr. Hill, Mr. Mann, Mrs. Bice, Mr. Nunn of Iowa, Mr. Finstad, Mr. Timmons, Mr. Joyce of Pennsylvania, Mr. Carter of Georgia, Mr. Kustoff, and Mr. Meuser), H3273 [15MY] Cosponsors added, H3331 [16MY], H3400 [21MY], H3583 [3JN], H3657 [4JN], H3675 [5JN], H3728 [11JN], H4064 [13JN] H.J. Res. 142 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Retirement Security Rule: Definition of an Investment Advice Fiduciary’’; to the Committee on Education and the Workforce. By Mr. ALLEN (for himself, Mr. Sessions, Mr. Duncan, Mrs. Wagner, Mr. Norman, Mr. Donalds, Mr. Walberg, Mr. Hern, Mrs. Miller of West Virginia, Mr. Moolenaar, Mr. Smucker, Mr. Williams of Texas, Mr. Rutherford, Mr. Westerman, Mr. Banks, Ms. Letlow, Mr. Hill, Mr. Mann, Mrs. Bice, Mr. Nunn of Iowa, Mr. Finstad, Mr. Timmons, Mr. Joyce of Pennsylvania, Mr. Carter of Georgia, Mr. Kustoff, and Mr. Meuser), H3273 [15MY] Cosponsors added, H3331 [16MY], H3400 [21MY], H3583 [3JN], H3657 [4JN], H3675 [5JN], H3728 [11JN], H4064 [13JN] H.J. Res. 143 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128’’; to the Committee on Education and the Workforce. By Mr. ALLEN (for himself, Mr. Sessions, Mr. Duncan, Mrs. Wagner, Mr. Norman, Mr. Donalds, Mr. Walberg, Mr. Hern, Mrs. Miller of West Virginia, Mr. Moolenaar, Mr. Smucker, Mr. Williams of Texas, Mr. Rutherford, Mr. Westerman, Mr. Banks, Ms. Letlow, Mr. Hill, Mr. Mann, Mrs. Bice, Mr. Nunn of Iowa, Mr. Finstad, Mr. Timmons, Mr. Joyce of Pennsylvania, Mr. Carter of Georgia, Mr. Kustoff, and Mr. Meuser), H3273 [15MY] Cosponsors added, H3331 [16MY], H3400 [21MY], H3583 [3JN], H3657 [4JN], H3675 [5JN], H3728 [11JN], H4064 [13JN] H.J. Res. 144 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Alcohol, Tobacco, Firearms, and Explosives, Department of Justice, relating to ‘‘Definition of ’Engaged in the Business’ as a Dealer in Firearms’’; to the Committee on the Judiciary. By Mr. CLYDE (for himself, Mrs. Luna, Mr. Rosendale, Mr. Cline, Mr. Westerman, Mr. Hudson, Mr. Self, Mr. Tiffany, Mr. Bean of Florida, Mr. Reschenthaler, Mrs. Miller of Illinois, Mr. Armstrong, Mr. Ogles, Mr. Babin, Mr. Weber of Texas, Mr. Cloud, Mr. Roy, Mr. Good of Virginia, Mr. Bishop of North Carolina, Mr. Burlison, Mr. Biggs, Mr. Crane, Mr. Moolenaar, Mr. Perry, Mr. Gooden of Texas, Mr. Mann, Mr. Crenshaw, Mr. Issa, Mrs. Hinson, Mr. Norman, Mr. LaMalfa, Mr. Sessions, Ms. Tenney, Mr. Higgins of Louisiana, Mr. Rogers of Alabama, Mr. Donalds, Mr. Moran, Mr. Nehls, Mr. Tony Gonzales of Texas, Mr. Posey, Mr. Estes, Mr. Ezell, Mr. Dunn of Florida, Mr. Moore of Alabama, Mr. Owens, Mrs. Harshbarger, Mr. Timmons, Mr. Grothman, Mr. Mooney, Ms. Boebert, Mrs. Cammack, Mr. Ellzey, Mr. Gosar, Mr. Fleischmann, Mr. Harris, Ms. Greene of Georgia, Mr. Womack, Mr. Duncan, Mr. Bilirakis, Mr. Bentz, Mr. Burchett, Mr. Williams of Texas, Mr. Brecheen, Mr. McCormick, Mr. Bost, Mr. Graves of Missouri, Mr. Allen, Ms. Hageman, Mr. Aderholt, Mr. Davidson, Mr. Massie, Mr. Collins, Mr. Steube, Mr. Scott Franklin of Florida, Mr. Langworthy, Ms. Stefanik, Mr. Guest, Mr. Palmer, Mr. Zinke, Mrs. Lesko, Mr. Yakym, Mr. Hill, Mr. Rose, Mr. Flood, Mrs. Bice, Mr. Balderson, and Mr. Feenstra), H3328 [16MY] Cosponsors added, H3358 [17MY], H3400 [21MY], H3486 [22MY], H3526 [23MY], H3543 [31MY], H3583 [3JN], H3682 [7JN], H3728 [11JN], H3976 [12JN] H.J. Res. 145 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Food and Drug Administration relating to ‘‘Medical Devices; Laboratory Developed Tests’’; to the Committee on Energy and Commerce. By Mr. FINSTAD (for himself and Mr. Crenshaw), H3328 [16MY] Cosponsors added, H3358 [17MY], H3976 [12JN], H4064 [13JN] H.J. Res. 146 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Centers for Medicare & Medicaid Services relating to ‘‘Clarifying the Eligibility of Deferred Action for Childhood Arrivals (DACA) Recipients and Certain Other Noncitizens for a Qualified Health Plan through an Exchange, Advance Payments of the Premium Tax Credit, Cost-Sharing Reductions, and a Basic Health Program’’; to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MACE (for herself, Mr. Biggs, Ms. Boebert, Mr. Burchett, Mr. Burlison, Mr. Rosendale, Mr. Davidson, Mr. Ogles, Mr. Gosar, Mr. Donalds, Mr. Good of Virginia, Mr. Mooney, Mr. Tiffany, Ms. Hageman, Mr. Fallon, Mr. Norman, Mr. Perry, Mr. Van Drew, Mr. Duncan, Mr. Crawford, Mr. Roy, Mr. Rose, Mr. Weber of Texas, Mr. Hunt, Mr. DesJarlais, Mr. Crane, Mr. Brecheen, Mr. Allen, Mr. Gooden of Texas, Mr. Gaetz, Mrs. Luna, Mr. Nehls, Mr. Sessions, Mr. Babin, and Mr. Clyde), H3328 [16MY] Cosponsors added, H3358 [17MY] H.J. Res. 147 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Occupational Safety and Health Administration relating to ‘‘Worker Walkaround Representative Designation Process’’; to the Committee on Education and the Workforce. By Mrs. MILLER of Illinois (for herself, Ms. Foxx, Mr. Clyde, Mr. Smith of Nebraska, Mr. Ogles, Mr. Good of Virginia, Mr. Weber of Texas, Mr. Moolenaar, Mr. Mann, Mr. Bean of Florida, Mr. Duncan, Mr. Allen, Mr. Grothman, Mr. Cloud, Mr. Duarte, Ms. Letlow, Mr. Walberg, Mr. Sessions, Mr. Biggs, Mr. Burlison, Mr. Smucker, Mr. Babin, Mrs. Houchin, Mr. Webster of Florida, Ms. Boebert, and Mr. Bishop of North Carolina), H3328 [16MY] H.J. Res. 148 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to ‘‘Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern’’; to the Committee on Ways and Means. By Mrs. MILLER of West Virginia (for herself and Mr. Golden of Maine), H3328 [16MY] Cosponsors added, H3358 [17MY], H3526 [23MY], H3535 [28MY], H3728 [11JN] H.J. Res. 149 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Establishment of a Nonessential Experimental Population of Grizzly Bear in the North Cascades Ecosystem, Washington State’’; to the Committee on Natural Resources. By Mr. NEWHOUSE, H3329 [16MY] H.J. Res. 150 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘National Emission Standards for Hazardous Air Pollutants: Coal- and Oil-Fired Electric Utility Steam Generating Units Review of the Residual Risk and Technology Review’’; to the Committee on Energy and Commerce. By Mr. ARMSTRONG (for himself, Mr. Zinke, Mr. Balderson, Mr. Pence, Mr. Griffith, Mr. Weber of Texas, Mrs. Miller of Illinois, Mr. Guthrie, Mr. Bentz, Mr. Grothman, and Mr. Moolenaar), H3356 [17MY] Cosponsors added, H3976 [12JN] H.J. Res. 151 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Supplemental Effluent Limitations Guidelines and Standards for the Steam Electric Power Generating Point Source Category’’; to the Committee on Transportation and Infrastructure. By Mr. COLLINS (for himself, Mr. Guthrie, Mr. Griffith, Mr. Armstrong, Mr. Weber of Texas, Mr. Balderson, Mr. Curtis, Mr. Palmer, Mr. Allen, Mr. Perry, Mr. Fulcher, Mr. Pence, and Mr. Latta), H3397 [21MY] Cosponsors added, H3486 [22MY], H3583 [3JN] H.J. Res. 152 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘Hazardous and Solid Waste Management System: Disposal of Coal Combustion Residuals From Electric Utilities; Legacy CCR Surface Impoundments’’; to the Committee on Energy and Commerce. By Mr. GRIFFITH (for himself, Mrs. Lesko, Mr. Armstrong, Mr. Bost, Mr. Carter of Georgia, Mr. Palmer, Mrs. Miller of West Virginia, Mr. Latta, Mr. Baird, Mr. Weber of Texas, Mr. Joyce of Pennsylvania, Mr. Duncan, Mr. Perry, Mr. Balderson, Mr. Meuser, Mr. Grothman, Mr. Ogles, Mr. Guthrie, Mr. Pence, Mr. Hudson, Mr. Thompson of Pennsylvania, Mr. Reschenthaler, Mr. Wittman, Mr. Allen, Mr. Mooney, Mrs. Miller of Illinois, and Mr. Ellzey), H3484 [22MY] Cosponsors added, H3526 [23MY], H3531 [24MY], H3976 [12JN] H.J. Res. 153 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Communications Commission relating to ‘‘Safeguarding and Securing the Open Internet; Restoring Internet Freedom’’; to the Committee on Energy and Commerce. By Mr. LATTA, H3522 [23MY] Cosponsors added, H3976 [12JN] H.J. Res. 154 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Land Management relating to ‘‘Fluid Mineral Leases and Leasing Process’’; to the Committee on Natural Resources. By Ms. BOEBERT (for herself, Ms. Hageman, Mr. Ogles, Mr. Armstrong, Mr. Nehls, Mr. Gosar, Mr. Zinke, Mr. Lamborn, Mr. McClintock, Mr. Newhouse, Mr. Weber of Texas, and Mr. Rosendale), H3522 [23MY] H.J. Res. 155 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Marine Fisheries Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Regulations for Interagency Cooperation’’; to the Committee on Natural Resources. By Mr. DUARTE (for himself and Mr. Newhouse), H3522 [23MY] H.J. Res. 156 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Regulations for Interagency Cooperation’’; to the Committee on Natural Resources. By Mr. DUARTE (for himself and Mr. Newhouse), H3523 [23MY] H.J. Res. 157 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Marine Fisheries Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Listing Endangered and Threatened Species and Designating Critical Habitat’’; to the Committee on Natural Resources. By Ms. HAGEMAN (for herself, Mr. Newhouse, Ms. Maloy, Ms. Boebert, and Mr. Zinke), H3523 [23MY] Cosponsors added, H3976 [12JN] H.J. Res. 158 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Listing Endangered and Threatened Species and Designating Critical Habitat’’; to the Committee on Natural Resources. By Ms. HAGEMAN (for herself, Mr. Newhouse, Ms. Maloy, Ms. Boebert, and Mr. Zinke), H3523 [23MY] H.J. Res. 159 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Regulations Pertaining to Endangered and Threatened Wildlife and Plants’’; to the Committee on Natural Resources. By Mr. NEWHOUSE (for himself, Ms. Boebert, Mr. Zinke, and Ms. Hageman), H3523 [23MY] Cosponsors added, H3976 [12JN] H.J. Res. 160 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Health and Human Services relating to ‘‘Nondiscrimination in Health Programs and Activities’’; to the Committee on Energy and Commerce. By Mr. ROY (for himself, Mr. LaMalfa, Mr. Ogles, Mr. Duncan, Mr. Crenshaw, Mr. Good of Virginia, Mr. Babin, Mr. Weber of Texas, Mr. Biggs, Mr. Jackson of Texas, Mr. Reschenthaler, Mr. Brecheen, Mr. Bishop of North Carolina, Mr. Self, Mrs. Miller of Illinois, Mr. Higgins of Louisiana, Mr. Moran, and Mr. Moore of Alabama), H3523 [23MY] Cosponsors added, H3535 [28MY], H3543 [31MY], H3583 [3JN], H3657 [4JN], H3728 [11JN] H.J. Res. 161 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘New Source Performance Standards for the Synthetic Organic Chemical Manufacturing Industry and National Emission Standards for Hazardous Air Pollutants for the Synthetic Organic Chemical Manufacturing Industry and Group I & II Polymers and Resins Industry’’; to the Committee on Energy and Commerce. By Mr. HIGGINS of Louisiana, H3534 [28MY] Cosponsors added, H3657 [4JN], H3682 [7JN], H4116 [18JN] H.J. Res. 162 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the United States Fish and Wildlife Service relating to ‘‘Endangered and Threatened Wildlife and Plants; Endangered Species Status for the Dunes Sagebrush Lizard’’; to the Committee on Natural Resources. By Mr. PFLUGER, H3542 [31MY] Cosponsors added, H3657 [4JN] H.J. Res. 163 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to ‘‘New Source Performance Standards for Greenhouse Gas Emissions From New, Modified, and Reconstructed Fossil Fuel-Fired Electric Generating Units; Emission Guidelines for Greenhouse Gas Emissions From Existing Fossil Fuel-Fired Electric Generating Units; and Repeal of the Affordable Clean Energy Rule’’; to the Committee on Energy and Commerce. By Mr. BALDERSON (for himself, Mr. Carter of Georgia, Mr. Duncan, Mr. Armstrong, Mr. Hudson, Mrs. Miller of West Virginia, Mr. Pence, Mr. Griffith, Mr. Fulcher, Mr. Pfluger, Mr. Weber of Texas, Mrs. Miller-Meeks, Mr. Curtis, Mr. Roy, Mr. Joyce of Pennsylvania, Mr. Latta, Mr. Carey, Mr. Ezell, Mr. Davidson, Ms. Van Duyne, Mr. Meuser, Mr. Perry, Mr. Amodei, Mr. Burchett, Mr. Guthrie, Ms. Hageman, Mrs. Lesko, Mr. Burgess, Mr. Allen, Mr. Rosendale, Mr. Moolenaar, Mr. Wenstrup, Mr. Norman, Mrs. Harshbarger, Mr. Fry, Mr. Dunn of Florida, Mr. Crenshaw, Mr. Bean of Florida, Mrs. Bice, Mr. Miller of Ohio, Mr. Fallon, Mr. Smucker, Mr. Graves of Missouri, Ms. Tenney, Mr. Bucshon, Mrs. Hinson, Mr. Walberg, Mr. Bilirakis, Mr. Palmer, Mr. Johnson of South Dakota, Mr. Baird, Mr. Reschenthaler, Mr. Rogers of Alabama, Mr. Biggs, Mr. Rouzer, Mr. Kelly of Pennsylvania, Mr. Owens, Mr. Clyde, Mr. Arrington, Mr. Nehls, Ms. Lee of Florida, Mr. Mann, Mr. Simpson, Mr. Rogers of Kentucky, Mr. Wilson of South Carolina, Mr. Stauber, Mr. Luetkemeyer, Mr. Carl, Mr. Flood, Mr. Lucas, Mr. Banks, Mrs. Fischbach, Mr. Fitzgerald, Mr. Grothman, Mr. Carter of Texas, Mr. Hern, Mr. Finstad, Mr. Cole, Mr. Aderholt, Mr. Newhouse, Mr. Fleischmann, Mr. Ogles, Mr. Obernolte, Mr. Donalds, Mr. Mooney, Mr. Kelly of Mississippi, Mr. McHenry, Mr. DesJarlais, Mr. Van Orden, Mr. LaTurner, Mr. Burlison, Mr. Timmons, Mr. Wittman, Ms. Maloy, Mr. Estes, Mr. Guest, Mr. Crane, Mr. Moore of Utah, Mr. Yakym, Mr. Cloud, Mr. Smith of Nebraska, Mr. Langworthy, Mrs. Miller of Illinois, Mr. Scott Franklin of Florida, Mr. Gooden of Texas, Mr. Joyce of Ohio, Mr. Gosar, Mr. Crawford, Mr. Womack, Mr. Comer, Mr. Zinke, Mr. Feenstra, Mr. Tiffany, Mr. Strong, Mr. Westerman, Mr. Lamborn, Mr. Thompson of Pennsylvania, Mr. Ferguson, Mr. Austin Scott of Georgia, Mrs. Cammack, Mr. Alford, Mr. LaMalfa, Mr. Bost, Mr. Jordan, Mr. Turner, Mr. Jackson of Texas, Mr. Higgins of Louisiana, Mr. James, Mrs. Houchin, Mr. Sessions, Ms. Boebert, Mr. Moran, Mr. Fong, Mr. Edwards, Mr. Graves of Louisiana, Mr. Rutherford, Mr. Bishop of North Carolina, Mr. Bentz, and Mr. Collins), H3673 [5JN] Cosponsors added, H3682 [7JN], H3728 [11JN], H3976 [12JN] H.J. Res. 164 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Commerce relating to ‘‘Revision of Firearms License Requirements’’; to the Committee on Foreign Affairs. By Mr. GREEN of Tennessee (for himself, Mr. McCaul, Ms. Stefanik, Mr. Hudson, Mr. Guest, Mr. Williams of Texas, Mr. Graves of Missouri, Mr. Bost, Mr. Ogles, Mrs. Harshbarger, Mr. Kustoff, Mr. DesJarlais, Mr. Burchett, Mr. Fleischmann, Mr. Good of Virginia, Mr. Biggs, Mr. Roy, Mr. Cloud, Mr. Clyde, Mr. Brecheen, Mr. Cline, Mr. Gosar, Mr. Griffith, Mr. Harris, Mr. Higgins of Louisiana, Mrs. Miller of Illinois, Mr. Moore of Alabama, Mr. Nehls, Mr. Tiffany, Mr. Davidson, Mr. Bishop of North Carolina, Mr. Burlison, Mr. Donalds, Mr. Fulcher, Mr. Mooney, Mr. Murphy, Mr. Norman, Mr. Reschenthaler, Mr. Moore of Utah, Mr. Posey, Mr. Grothman, Mr. Crenshaw, Mrs. Wagner, Mr. Fry, Mr. Yakym, Mr. Tony Gonzales of Texas, Mr. Bean of Florida, Mr. Sessions, Mr. Timmons, Ms. Tenney, Mr. Weber of Texas, Mr. Smith of Nebraska, Mr. Mann, Mrs. Miller of West Virginia, Mr. Moolenaar, Mr. Hern, Mr. Edwards, Mrs. Hinson, Mr. Walberg, Mr. Steube, Mr. Mills, Mr. Fallon, Mr. Massie, Mr. Ezell, Mr. Langworthy, Mr. Rutherford, Mr. Bergman, Mr. Scott Franklin of Florida, Mr. Kelly of Mississippi, Mr. Self, Mr. Barr, Mr. Carl, Mr. Baird, Ms. Lee of Florida, Mr. Feenstra, and Mr. Babin), H3673 [5JN] Cosponsors added, H3682 [7JN], H3728 [11JN], H3976 [12JN], H4064 [13JN], H4110 [14JN] H.J. Res. 165 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to ‘‘Nondiscrimination on the Basis of Sex in Education Programs or Activities Receiving Federal Financial Assistance’’; to the Committee on Education and the Workforce. By Mrs. MILLER of Illinois (for herself, Ms. Foxx, Ms. Stefanik, Mrs. Harshbarger, Mrs. Luna, Ms. Tenney, Mrs. Lesko, Mrs. McClain, Ms. Letlow, Mrs. Hinson, Ms. Boebert, Ms. Hageman, Ms. Greene of Georgia, Ms. De La Cruz, Mrs. Bice, Mr. Banks, Mr. Allen, Mr. Cline, Mr. Posey, Mr. Rutherford, Mr. Sessions, Mr. Babin, Mr. Reschenthaler, Mr. Burchett, Mr. Norman, Mr. Scott Franklin of Florida, Mr. Clyde, Mr. Timmons, Mr. Duncan, Mr. Weber of Texas, Mr. Steube, Mr. Good of Virginia, Mr. Self, Mr. Ogles, Mr. Higgins of Louisiana, Mr. Biggs, Mr. Van Drew, Mr. Hern, Mr. Mooney, Mr. Brecheen, Mr. Fleischmann, Mr. Bilirakis, Mr. Austin Scott of Georgia, Mr. Moore of Alabama, Mr. Guest, Mr. Bishop of North Carolina, Mr. Moran, Mr. Walberg, Mr. Gosar, Mr. McCormick, Mr. Tiffany, Mr. Lamborn, Mr. Webster of Florida, Mr. Grothman, Mr. Owens, Mr. Cloud, Mr. Crane, Mr. Aderholt, Mr. Bean of Florida, Mr. Burlison, Mr. Crenshaw, Mr. LaLota, Mr. Stauber, Mr. Ezell, Mr. Bost, and Mr. Hudson), H3673 [5JN] Cosponsors added, H3682 [7JN], H4110 [14JN] H.J. Res. 166 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to ‘‘Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees’’; to the Committee on Education and the Workforce. By Mr. WALBERG (for himself, Mr. Barr, Mr. Smith of Nebraska, Mr. Moolenaar, Mr. Good of Virginia, Mr. Duncan, Mrs. Miller of Illinois, Mr. Ogles, Mrs. McClain, Mrs. Wagner, Mr. Bergman, Mr. Burlison, Mr. Grothman, Ms. Foxx, Mr. Williams of Texas, Mr. Moore of Utah, Mrs. Hinson, Mr. Fitzgerald, Mr. Bean of Florida, Mr. Owens, Mr. Estes, Mr. Thompson of Pennsylvania, Mr. Smucker, Mr. Baird, Mr. Weber of Texas, Ms. Tenney, Mrs. Houchin, Mr. Mann, Mr. Rutherford, Mr. Wenstrup, Mr. Allen, Ms. Letlow, Mr. Guthrie, Mr. Donalds, Mr. Dunn of Florida, Mr. Bilirakis, Mr. Edwards, Mr. Pence, Mr. Huizenga, Mr. Fleischmann, and Mr. Austin Scott of Georgia), H3673 [5JN] H.J. Res. 167 — A joint resolution disapproving the rule submitted by the Department of Agriculture relating to ‘‘Use of Electronic Identification Eartags as Official Identification in Cattle and Bison’’; to the Committee on Agriculture. By Ms. HAGEMAN (for herself, Mr. Armstrong, Mr. Biggs, Ms. Boebert, Mr. Brecheen, Mr. Crane, Mr. Donalds, Mr. Gosar, Ms. Maloy, Mr. Massie, Mr. Ogles, Mrs. Rodgers of Washington, Mr. Rosendale, Mr. Smith of Missouri, and Mrs. Spartz), H4062 [13JN] Cosponsors added, H4110 [14JN] H.J. Res. 168 — A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Council on Environmental Quality relating to ‘‘National Environmental Policy Act Implementing Regulations Revisions Phase 2’’; to the Committee on Natural Resources. By Mr. GRAVES of Louisiana (for himself, Mr. Duarte, Mr. Curtis, Mrs. Miller-Meeks, Mr. Stauber, Mr. Armstrong, Mr. Golden of Maine, Mrs. Bice, Mr. Carter of Georgia, Mr. Burgess, Mr. Lamborn, Mr. Hudson, and Mr. Roy), H4113 [18JN] H. Con. Res. 5 — Concurrent resolution expressing support for the Nation’s law enforcement agencies and condemning any efforts to defund or dismantle law enforcement agencies; to the Committee on the Judiciary. Cosponsors added, H825 [5MR] H. Con. Res. 10 — Concurrent resolution expressing the sense of Congress that the United States should resume normal diplomatic relations with Taiwan, negotiate a bilateral free trade agreement with Taiwan, and support Taiwan’s membership in international organizations; to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H242 [18JA], H2368 [12AP], H2702 [29AP] H. Con. Res. 13 — Concurrent resolution supporting the Local Radio Freedom Act; to the Committee on the Judiciary. Cosponsors added, H242 [18JA], H538 [7FE], H640 [14FE], H681 [15FE], H694 [23FE], H782 [1MR], H1035 [7MR], H1059 [8MR], H1094 [11MR] H. Con. Res. 16 — Concurrent resolution recognizing the victims of the Port Chicago explosion of July 17, 1944, the 79th anniversary of the greatest homeland loss of life of World War II, and exonerating the 50 African-American sailors unjustly court-martialed by the Navy; to the Committee on Armed Services. Cosponsors added, H825 [5MR] H. Con. Res. 27 — Concurrent resolution condemning Russia’s unjust and arbitrary detention of Russian opposition leader Vladimir Kara-Murza who has stood up in defense of democracy, the rule of law, and free and fair elections in Russia; to the Committee on Foreign Relations. Cosponsors added, H433 [5FE], H583 [13FE], H3728 [11JN] Rules suspended. Agreed to in the House amended, H3699 [11JN] Text, H3699 [11JN] Message from the House, S4049 [12JN] Referred to the Committee on Foreign Relations, S4049 [12JN] H. Con. Res. 28 — Concurrent resolution expressing the sense of the Congress that tax-exempt fraternal benefit societies have historically provided and continue to provide critical benefits to the people and communities of the United States; to the Committee on Ways and Means. Cosponsors added, H694 [23FE], H2143 [5AP], H2629 [23AP], H2939 [7MY], H3206 [14MY], H3728 [11JN] H. Con. Res. 29 — Concurrent resolution condemning the Russian Federation’s kidnapping of Ukrainian children; to the Committee on Foreign Affairs. Cosponsors added, H544 [9FE] H. Con. Res. 31 — Concurrent resolution highlighting the risks that environmental defenders face around the world and commending their role in defending human rights, combating climate chaos, and supporting a clean, healthy, and sustainable environment; to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H254 [25JA], H366 [31JA], H825 [5MR], H1237 [19MR] H. Con. Res. 33 — Concurrent resolution expressing support for access to medication abortion in the United States; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H318 [30JA], H505 [6FE], H544 [9FE], H694 [23FE], H2131 [29MR], H2399 [15AP], H2876 [6MY], H3486 [22MY], H3682 [7JN] H. Con. Res. 36 — Concurrent resolution calling for the end of impunity of unpunished Serbian sexual war crimes during the 1999 Kosovo war in the case of United States citizen and sexual war crime survivor Vasfije Krasniqi Goodman and other survivors of sexual and gender-based violence; to the Committee on Foreign Affairs. Cosponsors added, H1035 [7MR] H. Con. Res. 37 — Concurrent resolution expressing the sense of Congress that there is a climate emergency which demands a massive-scale mobilization to halt, reverse, and address its consequences and causes; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA] H. Con. Res. 38 — Concurrent resolution expressing the sense of Congress regarding the execution-style murders of United States citizens Ylli, Agron, and Mehmet Bytyqi in the Republic of Serbia in July 1999; to the Committee on Foreign Affairs. Cosponsors added, H14 [9JA], H133 [12JA], H274 [29JA], H2939 [7MY], H3583 [3JN] H. Con. Res. 41 — Concurrent resolution expressing support for the work of open water lifeguards as first responders and emergency response providers; to the Committee on Transportation and Infrastructure. Cosponsors added, H148 [16JA], H681 [15FE] H. Con. Res. 42 — Concurrent resolution honoring Mary Eliza Mahoney, America’s first professionally trained Black nurse; to the Committee on Energy and Commerce. Cosponsors added, H739 [28FE], H1094 [11MR], H1237 [19MR], H1500 [22MR], H2136 [2AP], H3206 [14MY] H. Con. Res. 44 — Concurrent resolution urging the establishment of a United States Commission on Truth, Racial Healing, and Transformation; to the Committee on the Judiciary. Cosponsors added, H53 [10JA], H825 [5MR], H2368 [12AP], H3526 [23MY] H. Con. Res. 47 — Concurrent resolution expressing the need for the Senate to provide advice and consent to ratification of the United Nations Convention on Biological Diversity; to the Committee on Foreign Affairs. Cosponsors added, H544 [9FE] H. Con. Res. 49 — Concurrent resolution establishing the Commission on Evidence-Based Policymaking to review, analyze, and make recommendations to Congress to promote the use of Federal data for evidence-building and evidence-based policymaking, and for other purposes; to the Committee on House Administration, and in addition to the Committee on Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1355 [21MR] H. Con. Res. 56 — Concurrent resolution recognizing that the climate crisis disproportionately affects the health, economic opportunity, and fundamental rights of children, expressing the sense of Congress that leadership by the United States is still urgently needed to address the climate crisis, and acknowledging the need of the United States to develop a national, comprehensive, science-based, and just climate recovery plan to phase out fossil fuel emissions, protect and enhance natural carbon sequestration, and put the United States on a path toward stabilizing the climate system; to the Committee on Energy and Commerce. Cosponsors added, H318 [30JA] H. Con. Res. 59 — Concurrent resolution urging all countries to outlaw the dog and cat meat trade and to enforce existing laws against such trade; to the Committee on Foreign Affairs, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H433 [5FE] H. Con. Res. 60 — Concurrent resolution calling for the immediate release of Marc Fogel, a United States citizen and teacher, who was given an unjust and disproportionate criminal sentence by the Government of the Russian Federation in June 2022; to the Committee on Foreign Affairs. Cosponsors added, H133 [12JA] H. Con. Res. 61 — Concurrent resolution supporting Israeli democracy; to the Committee on Foreign Affairs. Cosponsors added, H390 [1FE] H. Con. Res. 74 — Concurrent resolution expressing support for the Geneva Consensus Declaration on Promoting Women’s Health and Strengthening the Family and urging that the United States rejoin this historic declaration; to the Committee on Foreign Affairs. Cosponsors added, H274 [29JA], H739 [28FE] H. Con. Res. 75 — Concurrent resolution expressing the sense of Congress that a commemorative postage stamp should be issued in honor of the Buffalo Soldiers; to the Committee on Oversight and Accountability. Cosponsors added, H1500 [22MR] H. Con. Res. 76 — Concurrent resolution recognizing the difficult challenges Black veterans faced when returning home after serving in the Armed Forces, their heroic military sacrifices, and their patriotism in fighting for equal rights and for the dignity of a people and a Nation; to the Committee on Veterans’ Affairs. Cosponsors added, H109 [11JA], H739 [28FE] H. Con. Res. 78 — Concurrent resolution expressing the sense of Congress that public health professionals should be commended for their dedication and service to the United States on Public Health Thank You Day, November 20, 2023; to the Committee on Energy and Commerce. Cosponsors added, H15 [9JA] H. Con. Res. 81 — Concurrent resolution recognizing international days of peace, coexistence, and cooperation; to the Committee on Oversight and Accountability. Cosponsors added, H15 [9JA] H. Con. Res. 82 — Concurrent resolution recognizing and supporting the efforts of the New Heights Bid Committee to bring the 2027 Federation Internationale de Football Association (FIFA) Women’s World Cup competition to the United States and Mexico; to the Committee on Foreign Affairs. By Mr. LaHOOD (for himself, Mr. Larsen of Washington, Mr. Bacon, and Ms. Castor of Florida), H188 [17JA] Cosponsors added, H694 [23FE], H697 [26FE], H739 [28FE], H775 [29FE], H1035 [7MR], H1059 [8MR], H1095 [11MR], H1150 [12MR], H1190 [15MR], H1500 [22MR] H. Con. Res. 83 — Concurrent resolution authorizing the use of the Capitol Grounds for the National Peace Officers Memorial Service and the National Honor Guard and Pipe Band Exhibition; to the Committee on Transportation and Infrastructure. By Mr. PERRY (for himself and Ms. Titus), H240 [18JA] Cosponsors added, H1001 [6MR] Reported (H. Rept. 118–415), H1032 [7MR] Rules suspended. Agreed to in the House, H1067 [11MR] Text, H1067 [11MR] Message from the House, S2364 [12MR] Agreed to in the Senate, S3667 [9MY] Message from the Senate, H3001 [10MY] H. Con. Res. 84 — Concurrent resolution authorizing the use of Emancipation Hall in the Capitol Visitor Center for a ceremony to present the Congressional Gold Medal collectively to the 23d Headquarters Special Troops and the 3133d Signal Services Company, known collectively as the ‘‘Ghost Army’’, in recognition of unique and highly distinguished service during World War II; to the Committee on House Administration. By Ms. KUSTER (for herself and Ms. Maloy), H246 [22JA] Committee discharged. Agreed to in the House, H485 [6FE] Text, H485 [6FE] Message from the House, S441 [7FE] Agreed to in the Senate, S2416 [14MR] Message from the Senate (received March 14, 2024), H1185 [15MR] H. Con. Res. 85 — Concurrent resolution authorizing the use of Emancipation Hall in the Capitol Visitor Center for a ceremony to present the Congressional Gold Medal collectively to the women in the United States who joined the workforce during World War II, providing the aircraft, vehicles, weaponry, ammunition, and other material to win the war and who were referred to as ‘‘Rosie the Riveter’’, in recognition of their contributions to the United States and the inspiration they have provided to ensuing generations; to the Committee on House Administration. By Mr. FITZPATRICK, H252 [25JA] Committee discharged. Agreed to in the House, H486 [6FE] Text, H486 [6FE] Message from the House, S441 [7FE] Agreed to in the Senate, S2695 [10AP] Message from the Senate, H2371 [15AP] H. Con. Res. 86 — Concurrent resolution expressing the sense of Congress that a carbon tax would be detrimental to the United States economy; to the Committee on Ways and Means. By Mr. ZINKE (for himself, Mr. Scalise, Mr. Bost, Mr. Clyde, Mr. Crenshaw, Mr. Perry, Mr. Ogles, Mr. Jackson of Texas, Mrs. Miller of Illinois, Mr. Lamborn, Mrs. Miller of West Virginia, Mr. Carey, Mr. Langworthy, and Mr. Pfluger), H252 [25JA] Cosponsors added, H1237 [19MR] Providing for consideration (H. Res. 1085), H1233 [19MR] Debated, H1309 [21MR] Text, H1309 [21MR] Agreed to in the House, H1321 [21MR] Message from the House, S2591 [22MR] Read the first time. Referred to the Committee on Finance, S2592 [22MR] H. Con. Res. 87 — Concurrent resolution recognizing the need for research, education, and policy development regarding high-potency marijuana; to the Committee on Energy and Commerce. By Mr. SESSIONS (for himself and Mr. Harris), H364 [31JA] H. Con. Res. 88 — Concurrent resolution expressing the sense of Congress that the Secretary of State in coordination with the Secretary of the Treasury should investigate the use of cryptocurrencies by Hamas (also known as Harakat al-Muqawama al-Islamiya), and whether any cryptocurrencies were exchanged between Hamas and the United Nations Relief and Works Agency; to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BURCHETT, H502 [6FE] H. Con. Res. 89 — Concurrent resolution authorizing the use of Emancipation Hall in the Capitol Visitor Center for a ceremony as part of the commemoration of the days of remembrance of victims of the Holocaust; to the Committee on House Administration. By Mr. KUSTOFF (for himself, Mr. Schneider, Mr. D’Esposito, Mr. Miller of Ohio, Mr. Phillips, Mr. Landsman, and Mr. Bacon), H502 [6FE] Committee discharged. Agreed to in the House, H734 [28FE] Text, H734 [28FE] Message from the House, S1075 [29FE] Agreed to in the Senate, S3367 [2MY] Message from the Senate (received May 3, 2024), H2840 [6MY] H. Con. Res. 90 — Concurrent resolution condemning the Biden administration for its ban on the issuance of liquefied natural gas export permits; to the Committee on Energy and Commerce, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WILLIAMS of New York (for himself, Mr. Donalds, Mr. Bean of Florida, Ms. Granger, Mr. Scott Franklin of Florida, Mr. Ellzey, Ms. Boebert, Mr. Burgess, Mr. Van Orden, Mr. Weber of Texas, and Ms. De La Cruz), H502 [6FE] Cosponsors added, H640 [14FE], H681 [15FE], H739 [28FE] H. Con. Res. 91 — Concurrent resolution authorizing the use of Emancipation Hall in the Capitol Visitor Center for the 12th Annual Fallen Firefighters Congressional Flag Presentation Ceremony; to the Committee on House Administration. By Mr. PASCRELL (for himself, Mr. Fitzpatrick, Mr. Hoyer, and Mr. Bost), H679 [15FE] H. Con. Res. 92 — Concurrent resolution honoring the Mary Meachum Freedom Crossing; to the Committee on the Judiciary. By Ms. BUSH, H686 [20FE] Cosponsors added, H739 [28FE], H775 [29FE], H782 [1MR], H1150 [12MR] H. Con. Res. 93 — Concurrent resolution providing for a joint session of Congress to receive a message from the President. By Mr. SCALISE, H821 [5MR] Agreed to in the House, H807 [5MR] Text, H807 [5MR] Message from the House, S2237 [6MR] Agreed to in the Senate, S2246 [6MR] Message from the Senate, H1011 [7MR] H. Con. Res. 94 — Concurrent resolution directing the Clerk of the House of Representatives to make a correction in the enrollment of H.R. 4366. By Mr. WOMACK, H999 [6MR] Agreed to in the House, H972 [6MR] Text, H972 [6MR] Message from the House, S2237 [6MR] Agreed to in the Senate, S2327 [8MR] Message from the Senate, H1065 [11MR] H. Con. Res. 95 — Concurrent resolution expressing support for the recognition of March 10, 2024, as ‘‘Abortion Provider Appreciation Day’’; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. PRESSLEY, H1033 [7MR] Cosponsors added, H1182 [13MR], H1237 [19MR] H. Con. Res. 96 — Concurrent resolution expressing the sense of Congress regarding the public health, safety, and welfare implications of licensure of design professionals; to the Committee on Education and the Workforce. By Mr. JOYCE of Pennsylvania, H1057 [8MR] Cosponsors added, H3682 [7JN] H. Con. Res. 97 — Concurrent resolution recognizing the significance of equal pay and the disparity between wages paid to men and women; to the Committee on Education and the Workforce. By Ms. LOIS FRANKEL of Florida (for herself, Ms. DeLauro, Ms. Williams of Georgia, Ms. Leger Fernandez, Ms. Adams, Mr. Allred, Mr. Amo, Ms. Balint, Ms. Barragán, Mrs. Beatty, Mr. Beyer, Mr. Bishop of Georgia, Mr. Blumenauer, Ms. Blunt Rochester, Ms. Bonamici, Mr. Bowman, Mr. Boyle of Pennsylvania, Ms. Brown, Ms. Brownley, Ms. Budzinski, Ms. Bush, Ms. Caraveo, Mr. Carbajal, Mr. Cárdenas, Mr. Carson, Mr. Carter of Louisiana, Mr. Cartwright, Mr. Case, Ms. Castor of Florida, Mr. Castro of Texas, Ms. Chu, Ms. Clarke of New York, Mr. Cleaver, Mr. Costa, Ms. Crockett, Mr. Davis of Illinois, Ms. Dean of Pennsylvania, Ms. DeGette, Ms. DelBene, Mr. Deluzio, Mr. DeSaulnier, Mrs. Dingell, Ms. Escobar, Mr. Espaillat, Mr. Evans, Mr. Foster, Mr. Frost, Mr. Garamendi, Mr. García of Illinois, Ms. Garcia of Texas, Mr. Goldman of New York, Mr. Gomez, Mr. Vicente Gonzalez of Texas, Mr. Gottheimer, Mr. Green of Texas, Mr. Grijalva, Mrs. Hayes, Mr. Horsford, Ms. Houlahan, Ms. Hoyle of Oregon, Mr. Ivey, Ms. Jackson Lee, Mr. Jackson of North Carolina, Mr. Jackson of Illinois, Ms. Jacobs, Ms. Jayapal, Mr. Johnson of Georgia, Ms. Kamlager-Dove, Ms. Kaptur, Mr. Keating, Ms. Kelly of Illinois, Mr. Khanna, Mr. Kildee, Mr. Kilmer, Mr. Kim of New Jersey, Mr. Krishnamoorthi, Ms. Kuster, Mr. Larson of Connecticut, Ms. Lee of California, Ms. Lee of Pennsylvania, Ms. Lee of Nevada, Mr. Lieu, Ms. Lofgren, Mr. Lynch, Mr. Magaziner, Ms. Matsui, Ms. McClellan, Ms. McCollum, Mr. McGovern, Mr. Menendez, Ms. Meng, Ms. Moore of Wisconsin, Mr. Morelle, Mr. Moskowitz, Mr. Moulton, Mr. Mullin, Mr. Nadler, Mrs. Napolitano, Mr. Neal, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Mr. Pallone, Mr. Panetta, Mr. Pappas, Mr. Payne, Ms. Pelosi, Mr. Peters, Ms. Pettersen, Mr. Phillips, Ms. Pingree, Mr. Pocan, Ms. Pressley, Mr. Quigley, Mrs. Ramirez, Mr. Raskin, Ms. Ross, Mr. Ryan, Mr. Sablan, Ms. Salinas, Ms. Sánchez, Mr. Sarbanes, Ms. Scanlon, Ms. Schakowsky, Mr. Schiff, Mr. Schneider, Mr. Scott of Virginia, Ms. Sewell, Ms. Sherrill, Mr. Smith of Washington, Mr. Soto, Ms. Stansbury, Mr. Stanton, Ms. Stevens, Ms. Strickland, Mr. Swalwell, Mrs. Sykes, Mr. Takano, Mr. Thanedar, Mr. Thompson of Mississippi, Ms. Titus, Ms. Tokuda, Mr. Tonko, Mrs. Torres of California, Mrs. Trahan, Mr. Trone, Mr. Vargas, Ms. Velázquez, Ms. Wasserman Schultz, Mrs. Watson Coleman, Ms. Wexton, Ms. Wild, Ms. Wilson of Florida, Mr. Davis of North Carolina, and Mr. Connolly), H1147 [12MR] Cosponsors added, H1500 [22MR] H. Con. Res. 98 — Concurrent resolution affirming the vital importance to the United States and its allies and partners of actions necessary to preserve peace, security, and freedom of navigation in the Red Sea and Gulf of Aden; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TONY GONZALES of Texas (for himself, Mr. Armstrong, Mr. Rutherford, Mr. LaLota, Mr. Ciscomani, Mr. Carter of Texas, Mr. Baird, Mr. Mills, Mr. Luttrell, and Mr. Davis of North Carolina), H1180 [13MR] H. Con. Res. 99 — Concurrent resolution honoring Wadee Alfayoumi, a 6-year-old Palestinian-American boy, murdered as a victim of a hate crime for his Palestinian-Muslim identity, in the State of Illinois; to the Committee on the Judiciary. By Mrs. RAMIREZ (for herself, Ms. Underwood, Ms. Kelly of Illinois, Mr. Foster, Mr. Krishnamoorthi, Mr. Casten, Mr. Quigley, Ms. Schakowsky, Mr. Jackson of Illinois, Mr. García of Illinois, Mrs. Watson Coleman, Ms. Jacobs, Ms. Tlaib, Ms. Bush, Mr. Amo, and Mr. Carson), H1188 [15MR] Cosponsors added, H1298 [20MR], H1500 [22MR] H. Con. Res. 100 — Concurrent resolution directing the Clerk of the House of Representatives to make a correction in the enrollment of H.R. 2882. By Mr. DIAZ-BALART, H1498 [22MR] Agreed to in the House, H1488 [22MR] Text, H1488 [22MR] Agreed to in the Senate, S2586 [22MR] Message from the House, S2591 [22MR] Message from the Senate (received March 23, 2024), H2117 [26MR] H. Con. Res. 101 — Concurrent resolution recognizing the need to improve physical access to many federally funded facilities for all people of the United States, particularly people with disabilities; to the Committee on Education and the Workforce, and in addition to the Committees on the Judiciary, Transportation and Infrastructure, Energy and Commerce, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. HAYES (for herself, Mr. Davis of North Carolina, Ms. Wild, Ms. Norton, Mr. Tonko, Ms. Tlaib, Mr. Grijalva, Mrs. Dingell, Ms. Lee of California, Mr. Bowman, Mr. Swalwell, Mrs. Watson Coleman, Ms. Jackson Lee, Ms. Dean of Pennsylvania, Mrs. Beatty, Ms. Titus, and Mr. Mullin), H1498 [22MR] Cosponsors added, H2121 [26MR], H2136 [2AP], H2143 [5AP], H2291 [10AP], H2702 [29AP], H2876 [6MY] H. Con. Res. 102 — Concurrent resolution supporting the goals and ideals of International Transgender Day of Visibility; to the Committee on the Judiciary. By Ms. JACOBS (for herself, Ms. Jayapal, Mr. Pocan, Mr. Allred, Ms. Balint, Ms. Barragán, Ms. Bonamici, Ms. Bush, Mr. Carbajal, Mr. Cleaver, Mr. Connolly, Mr. Courtney, Ms. Craig, Ms. Davids of Kansas, Mr. Davis of Illinois, Ms. DeGette, Mrs. Fletcher, Mr. Frost, Mr. García of Illinois, Ms. Garcia of Texas, Ms. Scanlon, Mr. Goldman of New York, Mr. Gomez, Mr. Gottheimer, Mrs. Hayes, Ms. Norton, Mr. Jackson of Illinois, Mr. Krishnamoorthi, Ms. Lee of California, Ms. Leger Fernandez, Ms. Lofgren, Mr. Lynch, Mr. Magaziner, Ms. McClellan, Ms. McCollum, Mr. McGarvey, Mr. McGovern, Mr. Nadler, Mr. Pappas, Mr. Phillips, Ms. Porter, Mr. Quigley, Mrs. Ramirez, Ms. Salinas, Ms. Schakowsky, Mr. Schiff, Mr. Smith of Washington, Mr. Sorensen, Mr. Soto, Mr. Swalwell, Mr. Takano, Mr. Torres of New York, Mr. Trone, Mrs. Watson Coleman, and Ms. Wilson of Florida), H2129 [29MR] H. Con. Res. 103 — Concurrent resolution authorizing the use of the rotunda of the Capitol for the lying in honor of the remains of Ralph Puckett, Jr., the last Medal of Honor recipient for acts performed during the Korean conflict; to the Committee on House Administration. By Mr. BISHOP of Georgia (for himself, Mr. Womack, Mr. Cuellar, Mr. Khanna, Mr. Ryan, and Mr. Alford), H2367 [12AP] Cosponsors added, H2399 [15AP], H2503 [17AP] H. Con. Res. 104 — Concurrent resolution authorizing the use of the rotunda of the Capitol for the lying in state of the remains of Ralph Puckett, Jr., the last Medal of Honor recipient for acts performed during the Korean conflict; to the Committee on House Administration. By Mr. BISHOP of Georgia (for himself, Mr. Womack, Mr. Cuellar, Mr. Khanna, Mr. Ryan, Mr. Alford, and Ms. Granger), H2444 [16AP] Cosponsors added, H2503 [17AP] H. Con. Res. 105 — Concurrent resolution authorizing the use of Emancipation Hall in the Capitol Visitor Center for an event to celebrate the birthday of King Kamehameha I; to the Committee on House Administration. By Mr. CASE (for himself and Ms. Tokuda), H2829 [1MY] H. Con. Res. 106 — Concurrent resolution expressing support for local law enforcement officers and condemning efforts to defund local law enforcement agencies; to the Committee on the Judiciary. By Mr. EZELL (for himself and Mr. Rutherford), H2874 [6MY] Cosponsors added, H2939 [7MY], H3000 [8MY], H3007 [10MY], H3206 [14MY], H3275 [15MY] Rules suspended. Agreed to in the House, H3048 [14MY] Text, H3048 [14MY] Message from the House, S3709 [15MY] Referred to the Committee on the Judiciary, S3709 [15MY] H. Con. Res. 107 — Concurrent resolution designating Northwest Coast Art as a rare and valuable national treasure; to the Committee on Oversight and Accountability. By Mrs. PELTOLA, H2874 [6MY] H. Con. Res. 108 — Concurrent resolution commemorating the 100th anniversary of the designation of the Gila Wilderness; to the Committee on Natural Resources. By Mr. VASQUEZ, H3523 [23MY] Cosponsors added, H3543 [31MY] H. Con. Res. 109 — Concurrent resolution expressing the sense of the Congress that assisted suicide (sometimes referred to using other terms) puts everyone, including those most vulnerable, at risk of deadly harm; to the Committee on Energy and Commerce. By Mr. WENSTRUP (for himself, Mr. Correa, Mr. Murphy, Mr. Cartwright, and Mr. Smith of New Jersey), H3523 [23MY] H. Con. Res. 110 — Concurrent resolution establishing grounds under which Members of Congress may vote by proxy and remotely attend committee proceedings in the event of illness, a death in the family, jury service, military service, and other emergency situations, and for other purposes; to the Committee on Rules. By Ms. PORTER, H3725 [11JN] H. Con. Res. 111 — Concurrent resolution providing for certain procedures for bringing debate to a close on any question in the House of Representatives and Senate, and for other purposes; to the Committee on Rules. By Ms. PORTER, H3725 [11JN] H. Con. Res. 112 — Concurrent resolution requiring Members of Congress and Senators to be seated next to Members or Senators of opposing parties during meetings or hearings of committees of Congress; to the Committee on Rules. By Ms. PORTER, H3725 [11JN] H. Con. Res. 113 — Concurrent resolution recognizing the life, achievements, and public service of former President George H.W. Bush on the occasion of his 100th birthday; to the Committee on Oversight and Accountability. By Mr. PFLUGER (for himself, Ms. Granger, Mr. Sessions, Mr. Ellzey, Mr. Luttrell, Mr. Williams of Texas, Mr. Babin, Mr. Fallon, Mr. McCaul, Mr. Weber of Texas, Mrs. Fletcher, Mr. Crenshaw, Mr. Moran, Mr. Jackson of Texas, Ms. Van Duyne, Mr. Gooden of Texas, Mr. Burgess, Mr. Self, Mr. Arrington, Mr. Bacon, Mrs. Bice, Mr. Lawler, Mr. Fitzpatrick, Mr. Graves of Missouri, Mr. Donalds, Mr. Guthrie, and Mr. LaTurner), H3974 [12JN] H. Con. Res. 114 — Concurrent resolution expressing the sense of Congress that the International Olympic Committee should allow Taiwan to participate in the 2024 Summer Olympics under the national name, flag, and anthem of its own choosing; to the Committee on Foreign Affairs. By Mr. HUIZENGA (for himself, Mr. Tiffany, Mr. Ogles, Ms. Tenney, Mrs. Steel, and Mr. Donalds), H4113 [18JN] H. Res. 42 — A resolution expressing the sense of the House of Representatives that the Citizens’ Stamp Advisory Committee, as an entity of the United States Postal Service, should issue a commemorative stamp in honor of Congressman Elijah E. Cummings; to the Committee on Oversight and Accountability. Cosponsors added, H254 [25JA] H. Res. 43 — A resolution marking the 25th anniversary of the signing of the Good Friday Agreement; to the Committee on Foreign Affairs. Cosponsors added, H274 [29JA] H. Res. 50 — A resolution recognizing that article I, section 10 of the United States Constitution explicitly reserves to the States the sovereign power to repel an invasion and defend their citizenry from the overwhelming and ‘‘imminent danger’’ posed by paramilitary, narco-terrorist cartels, terrorists and criminal actors who have seized control of our southern border; to the Committee on the Judiciary. Cosponsors added, H148 [16JA], H274 [29JA], H318 [30JA], H366 [31JA], H390 [1FE], H505 [6FE], H544 [9FE], H583 [13FE], H1355 [21MR], H2623 [20AP] H. Res. 77 — A resolution embracing the goals and provisions of the Treaty on the Prohibition of Nuclear Weapons; to the Committee on Foreign Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1500 [22MR] H. Res. 81 — A resolution calling on the President to support the creation of a Special Tribunal for the Punishment of the Crime of Aggression against Ukraine; to the Committee on Foreign Affairs. Cosponsors added, H190 [17JA] H. Res. 82 — A resolution expressing the sense of Congress regarding the need to designate Nigeria a Country of Particular Concern for engaging in and tolerating systematic, ongoing, and egregious violations of religious freedom, the need to appoint a Special Envoy for Nigeria and the Lake Chad region, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H148 [16JA], H190 [17JA], H505 [6FE], H739 [28FE], H2636 [26AP], H3543 [31MY], H3976 [12JN] H. Res. 86 — A resolution condemning the Burmese military for perpetrating gross violations of human rights as part of its brutal campaign to suppress the democratic aspirations of the people of Burma, two years after the coup d’etat on February 1, 2021; to the Committee on Foreign Affairs, and in addition to the Committees on Ways and Means, the Judiciary, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H318 [30JA], H3000 [8MY], H3331 [16MY] H. Res. 96 — A resolution amending the Rules of the House of Representatives to prohibit the consideration of certain legislation that authorizes or makes appropriations unless such legislation includes a table that details the amount of appropriations authorized or appropriated for each program and an estimate of the costs (if any) of servicing the public debt which would be incurred in carrying out the measure, and for other purposes; to the Committee on Rules. Cosponsors added, H254 [25JA] H. Res. 99 — A resolution supporting the goals and ideals of ‘‘National Black HIV/AIDS Awareness Day’’; to the Committee on Energy and Commerce. Cosponsors added, H782 [1MR], H1035 [7MR] H. Res. 100 — A resolution expressing support for the Iranian people’s desire for a democratic, secular, and nonnuclear Republic of Iran, and condemning violations of human rights and state-sponsored terrorism by the Iranian Government; to the Committee on Foreign Affairs. Cosponsors added, H274 [29JA], H775 [29FE], H2399 [15AP] H. Res. 105 — A resolution expressing the sense of the House of Representatives that the Ukrainian famine of 1932-1933, known as the Holodomor, is recognized as a genocide and should serve as a reminder of repressive Soviet policies against the people of Ukraine; to the Committee on Foreign Affairs. Cosponsors added, H1095 [11MR] H. Res. 108 — A resolution condemning Azerbaijan’s blockade of the Armenians of Nagorno-Karabakh (Artsakh) and ongoing human rights violations; to the Committee on Foreign Affairs. Cosponsors added, H505 [6FE], H583 [13FE], H2131 [29MR] H. Res. 110 — A resolution supporting the goals and ideals of ‘‘Career and Technical Education Month’’; to the Committee on Education and the Workforce. Cosponsors added, H318 [30JA] H. Res. 126 — A resolution encouraging reunions of divided Korean-American families; to the Committee on Foreign Affairs. Cosponsors added, H366 [31JA] H. Res. 133 — A resolution expressing the sense of the House of Representatives with respect to Marcus Garvey; to the Committee on the Judiciary. Cosponsors added, H3728 [11JN] H. Res. 145 — A resolution opposing the Republic of South Africa’s hosting of military exercises with the People’s Republic of China and the Russian Federation, and calling on the Biden administration to conduct a thorough review of the United States-South Africa relationship; to the Committee on Foreign Affairs. Cosponsors added, H109 [11JA] H. Res. 146 — A resolution expressing strong support for the people of Moldova and for the Moldovan Government in their demonstrated commitment to advancing democracy, strengthening civil society, and European integration in the face of Russia’s illegal and full-scale invasion of Ukraine; to the Committee on Foreign Affairs. Cosponsors added, H433 [5FE], H583 [13FE], H681 [15FE], H688 [20FE], H697 [26FE], H1001 [6MR], H1035 [7MR], H2254 [9AP], H3000 [8MY], H3728 [11JN] H. Res. 147 — A resolution expressing support for the designation of February 18 through February 25, 2023, as ‘‘National FFA Week’’, recognizing the important role of the National FFA Organization in developing the next generation of globally conscious leaders who will change the world, and celebrating the 90th anniversary of the iconic FFA jacket; to the Committee on Agriculture. Cosponsors added, H366 [31JA] H. Res. 149 — A resolution condemning the illegal abduction of children from Ukraine to the Russian Federation; to the Committee on Foreign Affairs. Cosponsors added, H254 [25JA], H274 [29JA], H366 [31JA], H825 [5MR], H1237 [19MR] Text, H1201 [19MR] Rules suspended. Agreed to in the House amended, H1221 [19MR] Title amended, H1222 [19MR] H. Res. 152 — A resolution supporting the goals and ideals of ‘‘move over’’ laws; to the Committee on Transportation and Infrastructure. Cosponsors added, H1035 [7MR], H1095 [11MR], H2399 [15AP] H. Res. 154 — A resolution recognizing Russian actions in Ukraine as a genocide; to the Committee on Foreign Affairs. Cosponsors added, H242 [18JA], H2445 [16AP] H. Res. 160 — A resolution recognizing Black History Month as an important time to celebrate the remarkable and unique contributions of all LGBTQI+ Black Americans in United States history; to the Committee on Oversight and Accountability. Cosponsors added, H1035 [7MR] H. Res. 185 — A resolution declaring racism a public health crisis; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2503 [17AP], H3331 [16MY] H. Res. 190 — A resolution recognizing the national debt as a threat to national security; to the Committee on the Budget, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2629 [23AP] H. Res. 195 — A resolution expressing the need for the Federal Government to establish a national biodiversity strategy for protecting biodiversity for current and future generations; to the Committee on Natural Resources. Cosponsors added, H274 [29JA], H583 [13FE], H3583 [3JN] H. Res. 196 — A resolution memorializing those impacted by and lost to the COVID-19 pandemic; to the Committee on Energy and Commerce. Cosponsors added, H505 [6FE], H684 [16FE], H697 [26FE] H. Res. 204 — A resolution honoring the life of Dr. Paul Farmer by recognizing the duty of the Federal Government to adopt a 21st-century global health solidarity strategy and take actions to address past and ongoing harms that undermine the health and well-being of people around the world; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H825 [5MR], H1190 [15MR] H. Res. 209 — A resolution expressing the sense of the House of Representatives regarding the importance of taking a feminist approach to all aspects of foreign policy, including foreign assistance and humanitarian response, trade, diplomacy, defense, immigration, funding, and accountability mechanisms; to the Committee on Foreign Affairs. Cosponsors added, H4116 [18JN] H. Res. 219 — A resolution expressing support for developing supportive, inclusive, safe, and responsive public schools that provide all students with a well-rounded education and prepare all students for success in life and for the exercise of their social and economic rights, fostering parental involvement in education in a manner that builds partnerships and trust between parents and educators, and protecting the civil rights of students and families; to the Committee on Education and the Workforce. Cosponsors added, H1035 [7MR] H. Res. 221 — A resolution expressing support for designation of March 14, 2023, as ‘‘National Pi Day’’; to the Committee on Science, Space, and Technology. Cosponsors added, H1183 [13MR] H. Res. 228 — A resolution recognizing the Kingdom of Bhutan as responsible for the oppression and forced eviction of more than 100,000 Bhutanese citizens during the late 1980s and 1990s; to the Committee on Foreign Affairs. Cosponsors added, H254 [25JA], H1150 [12MR], H2131 [29MR] H. Res. 237 — A resolution recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses; to the Committee on Ways and Means. Cosponsors added, H1150 [12MR], H1183 [13MR], H1190 [15MR], H1237 [19MR], H2131 [29MR] H. Res. 243 — A resolution expressing the sense of the House of Representatives that the President and the Secretary of State should ensure that the Government of Canada does not permanently store nuclear waste in the Great Lakes Basin; to the Committee on Foreign Affairs. Cosponsors added, H2143 [5AP] H. Res. 262 — A resolution supporting the teaching of climate change in schools; to the Committee on Education and the Workforce. Cosponsors added, H274 [29JA], H3358 [17MY] H. Res. 265 — A resolution supporting the goals and ideals of the Rise Up for LGBTQI+ Youth in Schools Initiative, a call to action to communities across the country to demand equal educational opportunity, basic civil rights protections, and freedom from erasure for all students, particularly LGBTQI+ young people, in elementary and secondary schools; to the Committee on Education and the Workforce. Cosponsors added, H684 [16FE], H3275 [15MY], H4064 [13JN] H. Res. 269 — A resolution recognizing that it is the duty of the Federal Government to develop and implement a Transgender Bill of Rights to protect and codify the rights of transgender and nonbinary people under the law and ensure their access to medical care, shelter, safety, and economic security; to the Committee on the Judiciary, and in addition to the Committees on Education and the Workforce, Energy and Commerce, Financial Services, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3400 [21MY], H3657 [4JN], H3675 [5JN], H3728 [11JN], H3976 [12JN], H4064 [13JN] H. Res. 277 — A resolution expressing the sense of the House of Representatives that the United States Postal Service should take all appropriate measures to restore service standards in effect as of July 1, 2012; to the Committee on Oversight and Accountability. Cosponsors added, H3976 [12JN] H. Res. 280 — A resolution expressing support for the designation of November 22, 2023, as ‘‘Kimchi Day’’; to the Committee on Oversight and Accountability. Cosponsors added, H190 [17JA], H2368 [12AP] H. Res. 287 — A resolution supporting the goals and ideals of National Public Safety Telecommunicators Week; to the Committee on Energy and Commerce. Cosponsors added, H2629 [23AP] H. Res. 288 — A resolution urging the European Union to expeditiously designate the Islamic Revolutionary Guard Corps as a terrorist organization under Common Position 931, and for other purposes; to the Committee on Foreign Affairs. Cosponsors added, H254 [25JA], H2399 [15AP], H2445 [16AP] Text, H2428 [16AP] Rules suspended. Agreed to in the House, H2435 [16AP] H. Res. 302 — A resolution recognizing linemen, the profession of linemen, the contributions of these brave men and women who protect public safety, and expressing support for the designation of April 18, 2023, as ‘‘National Lineman Appreciation Day’’; to the Committee on Energy and Commerce. Cosponsors added, H1298 [20MR] H. Res. 310 — A resolution condemning the inaction by the Islamic Republic of Iran in addressing the poisoning of Iranian schoolgirls, the Daughters of the Iranian Revolution; to the Committee on Foreign Affairs. Cosponsors added, H109 [11JA], H3682 [7JN] H. Res. 318 — A resolution recognizing the importance of the 70th anniversary of the signing of the Mutual Defense Treaty between the United States and the Republic of Korea on October 1, 1953; to the Committee on Foreign Affairs. Cosponsors added, H109 [11JA] H. Res. 320 — A resolution recognizing the Republic of Artsakh’s independence and condemning Azerbaijan’s continued aggression against Armenia and Artsakh; to the Committee on Foreign Affairs. Cosponsors added, H366 [31JA], H2399 [15AP] H. Res. 324 — A resolution expressing support for the staff of this Nation’s public, school, academic, and special libraries and the essential services they provide to our communities, recognizing the need for funding commensurate with the broad scope of social services and community supports provided by libraries, preserving the right of all citizens to freely access information and resources in their communities, supporting a strong union voice for library workers, and defending the civil rights of library staff; to the Committee on Education and the Workforce. Cosponsors added, H2131 [29MR] H. Res. 332 — A resolution expressing the sense of the House of Representatives on Ukrainian victory; to the Committee on Foreign Affairs. Cosponsors added, H2319 [11AP] H. Res. 333 — A resolution expressing support for designation of April as ‘‘National Donate Life Month’’ and expressing gratitude to all Americans who have registered to be organ and tissue donors; to the Committee on Energy and Commerce. Cosponsors added, H505 [6FE] H. Res. 345 — A resolution recognizing that infertility is a widespread problem that affects populations of diverse ages, races, ethnicities, and genders; to the Committee on Energy and Commerce. Cosponsors added, H3275 [15MY] H. Res. 348 — A resolution declaring gun violence a public health crisis; to the Committee on Energy and Commerce. Cosponsors added, H2319 [11AP], H3728 [11JN] H. Res. 353 — A resolution expressing support for the designation of May 5, 2023, as the ‘‘National Day of Awareness for Missing and Murdered Indigenous Women and Girls’’; to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3275 [15MY] H. Res. 376 — A resolution expressing the sense of the House of Representatives that the United States Postal Service should take all appropriate measures to ensure the continuation of door delivery for all business and residential customers; to the Committee on Oversight and Accountability. Cosponsors added, H583 [13FE], H2503 [17AP], H2523 [18AP], H2560 [19AP], H2636 [26AP], H2702 [29AP], H2876 [6MY], H3000 [8MY], H3400 [21MY], H3526 [23MY], H3676 [5JN], H3682 [7JN] H. Res. 380 — A resolution encouraging the United States Holocaust Memorial Museum to continue its critical work, in person and online, in educating the public about the dangers of antisemitism and the origins of the Holocaust; to the Committee on Natural Resources. Cosponsors added, H53 [10JA], H109 [11JA] H. Res. 389 — A resolution acknowledging the essential contributions of frontline health workers to recovering progress and further expanding and sustaining gains in global health, saving the lives of millions of women, men, and children around the world, and strengthening the United States national security and global economic prosperity; to the Committee on Foreign Affairs. Cosponsors added, H825 [5MR], H1095 [11MR], H1237 [19MR], H2131 [29MR], H2319 [11AP] H. Res. 407 — A resolution supporting the goals and ideals of National Honor Our LGBT Elders Day; to the Committee on Foreign Affairs, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H694 [23FE] H. Res. 413 — A resolution condemning the atrocity that occurred in Buffalo, New York, on May 14, 2022, in which 10 Americans were killed and 3 were injured, and in which 11 of the 13 victims were Black Americans, condemning the Great Replacement Theory as a White supremacist conspiracy theory, and reaffirming the House of Representatives commitment to combating White supremacy, hatred, and racial injustice; to the Committee on the Judiciary. Cosponsors added, H3400 [21MY] H. Res. 414 — A resolution recognizing that the United States has a moral and legal obligation to provide reparations for the enslavement of Africans and its lasting harm on the lives of millions of Black people in the United States; to the Committee on the Judiciary. Cosponsors added, H15 [9JA] H. Res. 419 — A resolution expressing support for the designation of May as Ehlers-Danlos Syndrome Awareness Month to increase the knowledge of this little-known, potentially fatal, genetic disease; to the Committee on Energy and Commerce. Cosponsors added, H53 [10JA] H. Res. 427 — A resolution recognizing 14 years since the end of the war in Sri Lanka on May 18, 2009, honoring the lives lost, and expressing support for justice, accountability, reconciliation, reconstruction, reparation, and reform in Sri Lanka to ensure a lasting peaceful political solution and a prosperous future for all people of Sri Lanka; to the Committee on Foreign Affairs. Cosponsors added, H2254 [9AP] H. Res. 428 — A resolution calling for the immediate extradition or rendering to the United States of convicted felons William Morales, Joanne Chesimard, and all other fugitives from justice who are receiving safe harbor in Cuba in order to escape prosecution or confinement for criminal offenses committed in the United States; to the Committee on Foreign Affairs. Cosponsors added, H2319 [11AP] H. Res. 434 — A resolution declaring a mental health crisis among youth in the United States, and expressing the pressing need for historic investments in mental health care for students; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H318 [30JA], H1237 [19MR] H. Res. 438 — A resolution condemning the rise of antisemitism and calling on elected officials to identify and educate others on the contributions of the Jewish American community; to the Committee on the Judiciary. Cosponsors added, H2636 [26AP] H. Res. 439 — A resolution expressing the sense of the House of Representatives that Congress should take all appropriate measures to ensure that the United States Postal Service remains an independent establishment of the Federal Government and is not subject to privatization; to the Committee on Oversight and Accountability. Cosponsors added, H544 [9FE] H. Res. 443 — A resolution supporting the goals and ideals of ‘‘National Poppy Day’’; to the Committee on Armed Services. Cosponsors added, H3526 [23MY], H3657 [4JN] H. Res. 445 — A resolution calling on the Senate to ratify the Convention on the Elimination of All Forms of Discrimination Against Women; to the Committee on Foreign Affairs. Cosponsors added, H1001 [6MR], H3682 [7JN], H3728 [11JN] H. Res. 450 — A resolution condemning recent hate crimes committed against Asian Americans, Native Hawaiians, and Pacific Islanders; to the Committee on the Judiciary. Cosponsors added, H2629 [23AP] H. Res. 481 — A resolution expressing the sense of the House of Representatives that BridgeUSA exchange programs are vital to the economy and national interests of the United States, and that Congress should prioritize robust support to ensure equitable opportunities for Americans and people from other countries; to the Committee on the Judiciary. Cosponsors added, H1237 [19MR] H. Res. 509 — A resolution expressing the sense of the House of Representatives to support the rights of youth in the foster care system; to the Committee on Education and the Workforce. Cosponsors added, H1298 [20MR] H. Res. 520 — A resolution expressing support for the designation of the second week of June as Children’s Week in the United States; to the Committee on Education and the Workforce. Cosponsors added, H2939 [7MY], H3543 [31MY], H3583 [3JN], H3728 [11JN] H. Res. 527 — A resolution condemning the recent rise in antisemitic violence and harassment targeting Jewish Americans, standing in solidarity with those affected by antisemitism, and for other purposes; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA] H. Res. 539 — A resolution recognizing the importance of United States-India relations; to the Committee on Foreign Affairs. Cosponsors added, H433 [5FE] H. Res. 540 — A resolution reaffirming the state of Arunachal Pradesh as Indian territory and condemning the People’s Republic of China’s provocations in South Asia; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA] H. Res. 542 — A resolution condemning human rights violations and violations of international religious freedom in India, including those targeting Muslims, Christians, Sikhs, Dalits, Adivasis, and other religious and cultural minorities; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H1150 [12MR], H2131 [29MR] H. Res. 547 — A resolution expunging the January 13, 2021, impeachment of President Donald John Trump; to the Committee on the Judiciary. Cosponsors added, H697 [26FE], H2831 [1MY] H. Res. 551 — A resolution fully addressing child poverty; to the Committee on Oversight and Accountability. Cosponsors added, H775 [29FE] H. Res. 554 — A resolution affirming the nature and importance of the support of the United States for the religious and ethnic minority survivors of genocide in Iraq; to the Committee on Foreign Affairs. Cosponsors added, H318 [30JA] H. Res. 561 — A resolution expressing opposition to the use of State power against people in the United States seeking essential health care, including criminalization of the full range of sexual and reproductive health care such as abortion, gender-affirming care, and contraceptive care, and disapproving of State punishment of people for their pregnancy outcomes; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H109 [11JA], H274 [29JA], H640 [14FE], H1001 [6MR], H1237 [19MR], H1298 [20MR], H1355 [21MR], H1500 [22MR], H2121 [26MR], H2399 [15AP], H3682 [7JN] H. Res. 568 — A resolution encouraging the celebration of the month of June as LGBTQIA+ Pride Month; to the Committee on the Judiciary. Cosponsors added, H825 [5MR] H. Res. 571 — A resolution expressing support for the designation of July as ‘‘American Pride Month’’; to the Committee on Oversight and Accountability. Cosponsors added, H2368 [12AP] H. Res. 578 — A resolution calling for the immediate release of Eyvin Hernandez, a United States citizen and Los Angeles County public defender, who was wrongfully detained by the Venezuelan regime in March 2022; to the Committee on Foreign Affairs. Cosponsors added, H1095 [11MR] H. Res. 579 — A resolution condemning the ongoing acts of repression and human rights violations against the Cuban people by the Cuban regime, and calling for the immediate release of all arbitrarily detained Cuban citizens; to the Committee on Foreign Affairs. Cosponsors added, H2939 [7MY] H. Res. 580 — A resolution expressing support for the designation of Journeyman Lineworkers Recognition Day; to the Committee on Energy and Commerce. Cosponsors added, H390 [1FE] H. Res. 585 — A resolution condemning the conflict in Sudan and supporting the people of Sudan, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H15 [9JA], H274 [29JA] H. Res. 587 — A resolution expressing support for the designation of the week of March 25 through March 31, 2024, as ‘‘National Farmworker Awareness Week’’; to the Committee on Agriculture. Cosponsors added, H2136 [2AP], H2503 [17AP] H. Res. 600 — A resolution condemning the attack on the Argentine Jewish Mutual Association Jewish Community Center in Buenos Aires, Argentina, in July 1994, and expressing the concern of the United States regarding the continuing, 29-year-long delay in the resolution of this case and encouraging accountability for the attack; to the Committee on Foreign Affairs. Cosponsors added, H2131 [29MR] H. Res. 608 — A resolution recognizing the importance of diversity, equity, and inclusion efforts in higher education; to the Committee on Education and the Workforce. Cosponsors added, H190 [17JA] H. Res. 612 — A resolution acknowledging the service, sacrifice, and courage of veterans and ensuring that Congress imposes no additional fee or cost for benefits earned through service; to the Committee on Veterans’ Affairs. Cosponsors added, H109 [11JA] H. Res. 616 — A resolution expressing support for the people of Afghanistan, condemning the Taliban’s assault on human rights and the specific targeting of women, girls, and members of religious and ethnic minorities, and expressing support for any Afghans who assisted in the United States mission in Afghanistan; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H694 [23FE], H782 [1MR], H1183 [13MR], H2143 [5AP], H2319 [11AP], H2836 [2MY], H3400 [21MY] H. Res. 620 — A resolution a resolution seeking justice for the Japanese citizens abducted by North Korea; to the Committee on Foreign Affairs. Cosponsors added, H2876 [6MY], H3206 [14MY], H3583 [3JN], H4110 [14JN] H. Res. 627 — A resolution condemning the Government of the Islamic Republic of Iran for the massacre of political prisoners in 1988 and the uprisings of recent years, including the 2018, 2019, and 2022 uprisings, and calling for justice for its victims; to the Committee on Foreign Affairs. Cosponsors added, H15 [9JA], H53 [10JA], H242 [18JA], H274 [29JA], H433 [5FE], H2143 [5AP] H. Res. 634 — A resolution expressing that the United States is obligated to permanently end the unhoused crisis by 2027 and uphold, protect, and enforce the civil and human rights of unhoused individuals, including the human rights to housing, universal health care, livable wages, education, employment opportunities, access to public facilities, free movement in public spaces, privacy, confidentiality, internet access, vote, freedom from harassment by law enforcement, private businesses, property owners, and housed residents, and equal rights to health care, legal representation, and social services without discrimination based on housing status; to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, Education and the Workforce, the Judiciary, Agriculture, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H366 [31JA], H2136 [2AP] H. Res. 641 — A resolution expressing the sense of the House of Representatives in support of the International Atomic Energy Agency’s (IAEA) nuclear security role; to the Committee on Foreign Affairs. Cosponsors added, H2131 [29MR] H. Res. 643 — A resolution expressing support for the designation of July 30, 2023, as ‘‘National Whistleblower Appreciation Day’’; to the Committee on Oversight and Accountability. Cosponsors added, H190 [17JA], H1237 [19MR], H3486 [22MY] H. Res. 654 — A resolution calling on the Senate to remove the name of Richard B. Russell from the Russell Senate Office Building; to the Committee on Transportation and Infrastructure. Cosponsors added, H694 [23FE] H. Res. 657 — A resolution declaring unconditional war on racism and invidious discrimination and providing for the establishment of a Cabinet-level Department of Reconciliation charged with eliminating racism and invidious discrimination; to the Committee on the Judiciary. Cosponsors added, H694 [23FE] H. Res. 697 — A resolution expressing the sense of the House of Representatives relating to the Communist Party of China’s ‘‘Made In China 2025’’ Plan and publicly-known malign Communist Party of China’s actions supporting the goals of its ‘‘Made in China 2025’’ plan; to the Committee on Foreign Affairs. Cosponsors added, H2368 [12AP] H. Res. 701 — A resolution encouraging further deepening and broadening of the Abraham Accords on occasion of the third anniversary of their signing to continue building bridges towards a lasting peace; to the Committee on Foreign Affairs. Cosponsors added, H583 [13FE] H. Res. 702 — A resolution recognizing the duty of the Federal Government to protect the rights of restaurant workers; to the Committee on Education and the Workforce, and in addition to the Committees on Ways and Means, the Judiciary, Financial Services, Energy and Commerce, Agriculture, Oversight and Accountability, Armed Services, Veterans’ Affairs, Natural Resources, Foreign Affairs, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H3486 [22MY] H. Res. 709 — A resolution supporting the designation of September 2023 as ‘‘National Cholesterol Education Month’’, and September 30, 2023, as LDL-C Awareness Day; to the Committee on Energy and Commerce. Cosponsors added, H433 [5FE], H782 [1MR], H825 [5MR], H1035 [7MR], H1095 [11MR] H. Res. 720 — A resolution designating the week of September 24 through September 30, 2023, as ‘‘Gold Star Families Remembrance Week’’; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H15 [9JA] H. Res. 729 — A resolution supporting the designation of September 2023 as ‘‘National Recovery Month’’; to the Committee on Energy and Commerce. Cosponsors added, H1095 [11MR] H. Res. 733 — A resolution expressing concern about the spreading problem of book banning and the proliferation of threats to freedom of expression in the United States; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H739 [28FE], H2939 [7MY] H. Res. 735 — A resolution requesting information on Azerbaijan’s human rights practices pursuant to section 502B(c) of the Foreign Assistance Act of 1961; to the Committee on Foreign Affairs. Cosponsors added, H148 [16JA], H366 [31JA], H694 [23FE], H1150 [12MR], H1237 [19MR], H2121 [26MR], H2131 [29MR], H2399 [15AP], H3531 [24MY], H3657 [4JN] H. Res. 736 — A resolution expressing support for the recognition of September 25, 2023, to October 1, 2023, as ‘‘Asian American and Native American Pacific Islander-Serving Institutions Week’’; to the Committee on Education and the Workforce. Cosponsors added, H739 [28FE] H. Res. 738 — A resolution expressing the sense of the House of Representatives that the goal of the education system shall be that virtually every American student be able to read at grade level or better; to the Committee on Education and the Workforce. Cosponsors added, H190 [17JA], H1237 [19MR] H. Res. 740 — A resolution Expressing support for the designation of September 30, 2023, as ‘‘National Veterans Suicide Awareness and Prevention Day’’; to the Committee on Oversight and Accountability. Cosponsors added, H694 [23FE] H. Res. 753 — A resolution commemorating the fifth anniversary of the murder of Jamal Khashoggi and calling for accountability; to the Committee on Foreign Affairs. Cosponsors added, H739 [28FE] H. Res. 760 — A resolution expressing support for the designation of October 1 through October 7, 2023, as ‘‘National 4-H Week’’; to the Committee on Education and the Workforce, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H318 [30JA] H. Res. 762 — A resolution expressing support for increasing the number of Latino students and young professionals entering careers in science, technology, engineering, and mathematics fields; to the Committee on Science, Space, and Technology, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H433 [5FE] H. Res. 774 — A resolution recognizing the influx of known or suspected terrorists through America’s northern border as a threat to national security; to the Committee on Homeland Security. Cosponsors added, H53 [10JA] H. Res. 786 — A resolution calling for an immediate deescalation and cease-fire in Israel and occupied Palestine; to the Committee on Foreign Affairs. Cosponsors added, H148 [16JA] H. Res. 791 — A resolution expressing support for the designation of October 2023 as ‘‘National Down Syndrome Awareness Month’’; to the Committee on Energy and Commerce. Cosponsors added, H274 [29JA] H. Res. 796 — A resolution condemning foreign nationals in the United States who have endorsed and espoused the actions of foreign terrorist organizations (FTO) in Gaza who, on October 7, 2023, launched attacks against the State of Israel, and killed innocent Israeli and United States citizens; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H2939 [7MY] H. Res. 806 — A resolution expressing support for the recognition of October 2023, as ‘‘World Menopause Awareness Month’’ and expressing the sense of the House of Representatives regarding global awareness and access to care during the menopausal transition and post-menopause; to the Committee on Energy and Commerce, and in addition to the Committees on Armed Services, and Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H366 [31JA], H583 [13FE], H682 [15FE], H1150 [12MR] H. Res. 808 — A resolution recognizing the 40th anniversary of the terrorist attack on the United States Marine Corps barracks in Beirut, Lebanon, on October 23, 1983; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H1095 [11MR] H. Res. 817 — A resolution expressing the sense of the House of Representatives that the African Americans who duly won election to the House during the post-Civil War Reconstruction Era but were wrongly denied the right to take their seats should be recognized as former Members of the House; to the Committee on House Administration. Cosponsors added, H697 [26FE] H. Res. 819 — A resolution recognizing the 5-year anniversary of the horrific antisemitic attack at the Tree of Life Synagogue in Pittsburgh, Pennsylvania, on October 27, 2018, and condemning antisemitism; to the Committee on Oversight and Accountability. Cosponsors added, H254 [25JA] H. Res. 821 — A resolution supporting the goals and ideals of ‘‘Creutzfeldt-Jakob Disease (CJD) Awareness Day’’; to the Committee on Energy and Commerce. Cosponsors added, H825 [5MR], H2254 [9AP] H. Res. 828 — A resolution expressing support for the designation of October 2023 as ‘‘National Co-Op Month’’ and commending the cooperative business model and the member-owners, businesses, employees, farmers, ranchers, and practitioners who use the cooperative business model to positively impact the economy and society; to the Committee on Energy and Commerce. Cosponsors added, H390 [1FE] H. Res. 831 — A resolution supporting the goals and ideals of October as ‘‘National Domestic Violence Awareness Month’’; to the Committee on Education and the Workforce. Cosponsors added, H694 [23FE], H3543 [31MY] H. Res. 837 — A resolution reaffirming the ties between the United States and the Philippines; to the Committee on Foreign Affairs. Cosponsors added, H15 [9JA], H190 [17JA], H242 [18JA], H274 [29JA], H318 [30JA], H366 [31JA], H1190 [15MR], H3000 [8MY], H3400 [21MY] H. Res. 839 — A resolution condemning antisemitism at institutions of higher education in the United States and encouraging college and university leaders, administrators, and faculty to speak out against antisemitism; to the Committee on Education and the Workforce. Cosponsors added, H2702 [29AP] H. Res. 850 — A resolution designating the House Press Gallery as the ‘‘Frederick Douglass Press Gallery’’; to the Committee on House Administration. Cosponsors added, H274 [29JA] H. Res. 851 — A resolution expressing the support of the House of Representatives for the naming of new or undedicated facilities of the Department of Veterans Affairs after women veterans and minority veterans in order to reflect the diversity of all who have served in the Armed Forces of the United States; to the Committee on Veterans’ Affairs. Cosponsors added, H14 [9JA], H53 [10JA], H242 [18JA] H. Res. 858 — A resolution acknowledging the courage and sacrifice of veterans of the Korean War and Korean Defense Veterans; to the Committee on Veterans’ Affairs. Cosponsors added, H505 [6FE] H. Res. 861 — A resolution calling on Azerbaijan to immediately comply with international commitments regarding the release and treatment of prisoners of war, hostages, and other detained persons; to the Committee on Foreign Affairs. Cosponsors added, H366 [31JA], H694 [23FE], H697 [26FE], H1095 [11MR], H1150 [12MR], H1237 [19MR], H2136 [2AP], H3531 [24MY], H3657 [4JN] H. Res. 863 — A resolution Impeaching Alejandro Nicholas Mayorkas, Secretary of Homeland Security, for high crimes and misdemeanors; to the Committee on Homeland Security. Cosponsors added, H318 [30JA], H390 [1FE] Reported with amendment (H. Rept. 118–372) (action occurred on February 2, 2024), H430 [5FE] Providing for consideration (H. Res. 996), H430 [5FE] Debated, H449 [6FE] Text, H449 [6FE] Failed of passage, H484 [6FE] Motion to reconsider, H484 [6FE] Agreed to in the House amended, H573 [13FE] Message from the House, S2785 [16AP] Text, S2785 [16AP] H. Res. 872 — A resolution reaffirming the need for transatlantic cooperation to combat antisemitism in Europe; to the Committee on Foreign Affairs. Cosponsors added, H190 [17JA] H. Res. 874 — A resolution expressing support for the designation of ‘‘Prematurity Awareness Month’’; to the Committee on Energy and Commerce. Cosponsors added, H15 [9JA] H. Res. 881 — A resolution commemorating the 50th anniversary of the passage of the Endangered Species Act of 1973; to the Committee on Natural Resources. Cosponsors added, H14 [9JA], H53 [10JA], H133 [12JA], H190 [17JA], H254 [25JA], H739 [28FE], H3007 [10MY], H3206 [14MY], H3275 [15MY], H3526 [23MY], H4064 [13JN] H. Res. 882 — A resolution declaring support and gratitude by the House of Representatives to food banks, food pantries, and other community-based organizations working to end food insecurity and providing other essential services in the United States; to the Committee on Agriculture. Cosponsors added, H15 [9JA], H109 [11JA], H190 [17JA], H242 [18JA], H274 [29JA], H538 [7FE], H739 [28FE], H1001 [6MR], H2143 [5AP], H2291 [10AP], H2445 [16AP], H2503 [17AP], H2623 [20AP], H3543 [31MY], H3728 [11JN], H4110 [14JN] H. Res. 883 — A resolution expressing the sense of the House of Representatives that the slogan, ‘‘from the river to the sea, Palestine will be free’’ is antisemitic and its use must be condemned; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H318 [30JA] Text, H2430 [16AP] Rules suspended. Agreed to in the House, H2436 [16AP] H. Res. 886 — A resolution supporting the goals and principles of Transgender Day of Remembrance by recognizing the epidemic of violence toward transgender people and memorializing the lives lost this year; to the Committee on the Judiciary. Cosponsors added, H775 [29FE] H. Res. 895 — A resolution condemning calls from Members of Congress for the expulsion of Palestinians from the United States; to the Committee on the Judiciary. Cosponsors added, H247 [22JA], H274 [29JA] H. Res. 897 — A resolution expressing support for the goals of November National Lung Cancer Awareness Month and for the early detection and treatment of lung cancer; to the Committee on Energy and Commerce. Cosponsors added, H583 [13FE] H. Res. 899 — A resolution recognizing the Suicide Awareness and Remembrance Flag; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H274 [29JA], H3486 [22MY] H. Res. 901 — A resolution expressing support for democracy and human rights in Pakistan; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H133 [12JA], H247 [22JA], H254 [25JA], H274 [29JA], H318 [30JA], H390 [1FE], H433 [5FE], H505 [6FE], H538 [7FE], H583 [13FE], H640 [14FE], H684 [16FE], H688 [20FE], H694 [23FE], H697 [26FE], H739 [28FE], H775 [29FE], H825 [5MR], H1001 [6MR], H1095 [11MR], H1183 [13MR], H1190 [15MR], H1237 [19MR] H. Res. 902 — A resolution affirming the State of Palestine’s right to exist; to the Committee on Foreign Affairs. Cosponsors added, H782 [1MR] Removal of cosponsors, H825 [5MR], H1001 [6MR] H. Res. 904 — A resolution supporting the goals of World AIDS Day; to the Committee on Energy and Commerce, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H775 [29FE], H1035 [7MR], H1237 [19MR] H. Res. 905 — A resolution commemorating the 200th anniversary of the Monroe Doctrine; to the Committee on Foreign Affairs. Cosponsors added, H14 [9JA] H. Res. 907 — A resolution to condemn the rise in antisemitism, call on all Americans to combat antisemitism in the United States, and implement aspects of the U.S. National Strategy to Counter Antisemitism; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H53 [10JA], H505 [6FE], H2291 [10AP] H. Res. 915 — A resolution urging the Government of Ukraine to review and modify its decision to suspend adoption by foreign nationals with a view to resuming such adoptions, particularly in cases where the mutual concerns of the Governments of Ukraine and of the United States can be substantially addressed; to the Committee on Foreign Affairs. Cosponsors added, H14, H15 [9JA], H190 [17JA], H242 [18JA], H274 [29JA], H505 [6FE], H544 [9FE], H740 [28FE], H782 [1MR], H825 [5MR], H1001 [6MR], H1059 [8MR], H1190 [15MR], H2368 [12AP], H2629 [23AP], H2636 [26AP], H2831 [1MY], H3728 [11JN] H. Res. 916 — A resolution providing for consideration of the bill (H.R. 625) to regulate large capacity ammunition feeding devices; to the Committee on Rules. Discharge petition (Pet. no. 8) filed (January 10, 2024), H133 [12JA] Discharge petition (Pet. no. 12) filed June 4, 2024), H3682 [7JN] H. Res. 920 — A resolution disapproving of recommendations by the United Nations to reduce meat consumption in the United States; to the Committee on Agriculture, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H133 [12JA], H190 [17JA], H254 [25JA] H. Res. 929 — A resolution condemning all forms of hate; to the Committee on the Judiciary. Cosponsors added, H109 [11JA], H133 [12JA], H775 [29FE], H825 [5MR], H1035 [7MR] H. Res. 934 — A resolution expressing the sense of the House of Representatives that regular journalistic activities are protected under the First Amendment, and that the United States ought to drop all charges against and attempts to extradite Julian Assange; to the Committee on the Judiciary. Cosponsors added, H1059 [8MR], H2121 [26MR], H3206 [14MY], H3583 [3JN] H. Res. 935 — A resolution calling for the safe, timely, and sufficient delivery of humanitarian aid to civilians in the Gaza Strip; to the Committee on Foreign Affairs. Cosponsors added, H53 [10JA], H274 [29JA], H366 [31JA], H505 [6FE] H. Res. 936 — A resolution commemorating the 80th anniversary of the repeal of the Chinese Exclusion Act of 1882; to the Committee on the Judiciary. Cosponsors added, H190 [17JA] H. Res. 938 — A resolution expressing support for a comprehensive political reform plan; to the Committee on the Judiciary, and in addition to the Committee on House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H190 [17JA] H. Res. 941 — A resolution condemning the final agreement at the United Nations Climate Change Conference that encourages ‘‘transitioning away from fossil fuels’’; to the Committee on Energy and Commerce, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H54 [10JA], H133 [12JA], H242 [18JA] H. Res. 942 — A resolution honoring Wadee Alfayoumi, a 6-year-old Palestinian boy, murdered as a victim of a hate crime for his Palestinian Muslim identity, in the State of Illinois, United States; to the Committee on the Judiciary. Cosponsors added, H54 [10JA], H775 [29FE], H825 [5MR], H1298 [20MR] H. Res. 943 — A resolution calling for the annulment of the Monroe Doctrine and the development of a ‘‘New Good Neighbor’’ policy in order to foster improved relations and deeper, more effective cooperation between the United States and our Latin American and Caribbean neighbors; to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Cosponsors added, H54 [10JA], H2254 [9AP] H. Res. 946 — A resolution recognizing Gold Shield Families and affirming that their sacrifices and difficulties should not be forgotten; to the Committee on Transportation and Infrastructure. Cosponsors added, H366 [31JA], H433 [5FE], H640 [14FE], H775 [29FE], H1095 [11MR], H1150 [12MR], H1183 [13MR], H1190 [15MR], H1298 [20MR], H2254 [9AP], H2319 [11AP], H2560 [19AP], H2629 [23AP], H2939 [7MY], H3000 [8MY] H. Res. 947 — A resolution providing for consideration of the bill (H.R. 788) to limit donations made pursuant to settlement agreements to which the United States is a party, and for other purposes; providing for consideration of the joint resolution (H.J. Res. 98) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Labor Relations Board relating to ‘‘Standard for Determining Joint Employer Status’’; and providing for consideration of the joint resolution (S.J. Res. 38) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Highway Administration relating to ‘‘Waiver of Buy America Requirements for Electric Vehicle Charges’’. By Mrs. HOUCHIN, H12 [9JA] Reported (H. Rept. 118–342), H12 [9JA] Debated, H25 [10JA] Text, H25 [10JA] Amendments, H29 [10JA] Failed of passage, H31 [10JA] Motion to reconsider agreed to, H70 [11JA] Agreed to in the House, H71 [11JA] H. Res. 948 — A resolution providing for a committee to notify the President of the assembly of the House of Representatives. By Mr. MOORE of Utah, H13 [9JA] Agreed to in the House, H6 [9JA] Text, H6 [9JA] H. Res. 949 — A resolution to inform the Senate that a quorum of the House has assembled. By Mr. MOORE of Utah, H13 [9JA] Agreed to in the House, H6 [9JA] Text, H6 [9JA] Message from the House, S71 [10JA] H. Res. 950 — A resolution providing for the hour of meeting of the House. By Mr. MOORE of Utah, H13 [9JA] Agreed to in the House, H6 [9JA] Text, H6 [9JA] H. Res. 951 — A resolution impeaching Lloyd James Austin III, Secretary of Defense, for high crimes and misdemeanors; to the Committee on the Judiciary. By Mr. ROSENDALE, H13 [9JA] H. Res. 952 — A resolution amending the Rules of the House of Representatives to require the Clerk to read the Congressional Budget Office cost estimate of any bill immediately after the reading of the title of the bill; to the Committee on Rules. By Mr. BURCHETT (for himself, Mr. Norman, and Mr. Crenshaw), H13 [9JA] H. Res. 953 — A resolution congratulating the University of Michigan Wolverines on their undefeated season and for winning the 2024 National Collegiate Athletic Association Division I College Football Playoff National Championship Game; to the Committee on Education and the Workforce. By Mr. JAMES (for himself, Mrs. Dingell, Ms. Scholten, Mr. Huizenga, Ms. Slotkin, Mr. Kildee, Mrs. McClain, Ms. Tlaib, Ms. Stevens, Mr. Moolenaar, Mr. Thanedar, Mr. Walberg, and Mr. Bergman), H13 [9JA] H. Res. 954 — A resolution electing a Member to a certain standing committee for the House of Representatives. By Mr. MOORE of Utah, H51 [10JA] Agreed to in the House, H31 [10JA] Text, H31 [10JA] H. Res. 955 — A resolution commending Taiwan for its history of democratic elections, and expressing support of Taiwan in the preservation of its democratic institutions; to the Committee on Foreign Affairs. By Mr. CONNOLLY (for himself, Mr. Diaz-Balart, Mr. Bera, Mr. Barr, Mr. McCaul, Mr. Krishnamoorthi, Mr. Gallagher, Ms. Titus, Mr. Balderson, Mr. Moskowitz, Mr. Mooney, Mr. McGovern, Mr. Fleischmann, Mr. Costa, Mr. Tiffany, Mr. Doggett, Mr. Issa, Mr. Norcross, Ms. Malliotakis, Ms. Tokuda, Mr. Kelly of Mississippi, Mr. Castro of Texas, Mrs. Hinson, Mr. Green of Texas, Mrs. Radewagen, Mr. Lieu, Mr. Loudermilk, Ms. Wilson of Florida, Mr. Waltz, Mr. Pallone, Mr. Kean of New Jersey, Mr. Gallego, Mr. Moran, Ms. Kaptur, Mr. Ciscomani, Mr. Peters, Mr. Ogles, Ms. Adams, Mr. Carter of Georgia, Mrs. Napolitano, Mrs. Kim of California, Mrs. Kiggans of Virginia, Mr. Trone, Mr. Huizenga, and Mr. Luetkemeyer), H51 [10JA] Cosponsors added, H109 [11JA], H133 [12JA], H190 [17JA], H242 [18JA], H254 [25JA], H318 [30JA], H366 [31JA], H1095 [11MR] H. Res. 956 — A resolution expressing the great contributions to American society by Indian-American communities and the graduates of the Indian Institutes of Technology in the United States; to the Committee on Oversight and Accountability. By Mr. KRISHNAMOORTHI, H51 [10JA] H. Res. 957 — A resolution denouncing the Biden administration’s open-borders policies, condemning the national security and public safety crisis along the southwest border, and urging President Biden to end his administration’s open-borders policies; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. MORAN, H107 [11JA] Debated, H165 [17JA] Text, H165 [17JA] Agreed to in the House, H176 [17JA] Providing for consideration (H. Res. 969), H187 [17JA] H. Res. 958 — A resolution recognizing the 202d anniversary of the adoption of the Great Seal of the State of Missouri; to the Committee on Oversight and Accountability. By Mr. ALFORD, H107 [11JA] H. Res. 959 — A resolution recognizing the Kansas City Chiefs on the 54th anniversary of their first Super Bowl victory; to the Committee on Oversight and Accountability. By Mr. ALFORD, H107 [11JA] H. Res. 960 — A resolution urging action to increase equity within cannabis policy and the legal cannabis marketplace; to the Committee on Energy and Commerce, and in addition to the Committees on the Judiciary, Education and the Workforce, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. LEE of California (for herself, Mr. Blumenauer, Mr. Johnson of Georgia, Ms. Norton, Mrs. Watson Coleman, Ms. Schakowsky, Ms. Adams, and Mr. McGovern), H107 [11JA] H. Res. 961 — A resolution providing for the consideration of the bill (H.R. 5863) to provide tax relief with respect to certain Federal disasters; to the Committee on Rules. By Mr. STEUBE, H107 [11JA] Discharge petition (Pet. no. 11) filed (April 30, 2024), H2836 [2MY] Laid on the table, H3389 [21MY] H. Res. 962 — A resolution honoring Reverend Dr. Martin Luther King, Jr., by Celebrating Diversity, Promoting Tolerance, and Condemning Hate; to the Committee on the Judiciary. By Ms. BROWN (for herself, Ms. Adams, Mr. Amo, Mrs. Beatty, Mr. Bishop of Georgia, Mr. Carson, Mrs. Cherfilus-McCormick, Mr. Connolly, Mr. Courtney, Mr. David Scott of Georgia, Ms. Eshoo, Mrs. Foushee, Mrs. Fletcher, Mr. Frost, Mr. Garamendi, Mr. Green of Texas, Mr. Grijalva, Mrs. Hayes, Ms. Norton, Mr. Horsford, Mr. Ivey, Ms. Jackson Lee, Mr. Johnson of Georgia, Ms. Kaptur, Mr. Landsman, Ms. Lee of California, Mrs. McBath, Ms. McClellan, Mr. Mfume, Ms. Moore of Wisconsin, Mr. Neguse, Mr. Panetta, Mr. Payne, Ms. Salinas, Ms. Sewell, Mr. Soto, Ms. Spanberger, Mrs. Sykes, Ms. Tlaib, Mr. Thompson of Mississippi, Mr. Trone, Mr. Allred, Ms. Velázquez, Mrs. Watson Coleman, Ms. Williams of Georgia, Ms. Wilson of Florida, Ms. Meng, and Mr. Sablan), H132 [12JA] Cosponsors added, H190 [17JA], H433 [5FE], H505 [6FE], H682 [15FE] H. Res. 963 — A resolution supporting the goals and ideals of Korean American Day; to the Committee on Oversight and Accountability. By Mr. GOMEZ (for himself, Mrs. Kim of California, Ms. Chu, Mr. Kim of New Jersey, Mrs. Steel, Ms. Strickland, Mr. Beyer, Mr. Grijalva, Mr. Pascrell, Mr. Connolly, Ms. Bonamici, Ms. Barragán, Mr. Wilson of South Carolina, Mr. Swalwell, Mr. Costa, Mrs. McBath, Mr. Lynch, Mr. Khanna, Mr. Ruiz, Mr. Larsen of Washington, Mr. Foster, Mr. Lieu, Mr. Evans, Ms. Norton, Mr. Krishnamoorthi, Ms. Williams of Georgia, Mr. Takano, Ms. Jacobs, Ms. Ross, Mrs. Torres of California, Mr. Mullin, Ms. Sewell, Mr. Nadler, Ms. Jackson Lee, Mrs. Watson Coleman, Mr. Boyle of Pennsylvania, Ms. Garcia of Texas, Mr. Cohen, Mr. Johnson of Georgia, Mr. Schiff, Ms. Adams, Ms. Lee of California, Mr. Espaillat, Mrs. Peltola, Mr. Smith of Washington, Mr. Case, Mr. Allred, Ms. Kamlager-Dove, Mr. Tonko, Mr. Green of Texas, Mr. Cárdenas, Mr. Gottheimer, Ms. Stevens, Mr. Vargas, Mr. Sablan, Mr. Ruppersberger, Mr. Phillips, Ms. DelBene, Mr. Soto, Ms. Sánchez, Mr. Bera, Ms. Wexton, Mr. Peters, Ms. Meng, Ms. Tokuda, Mr. Trone, Ms. Schakowsky, Ms. Porter, Ms. Dean of Pennsylvania, Ms. Tlaib, Ms. Jayapal, Mr. Davis of Illinois, Mrs. Napolitano, Mr. Panetta, Mrs. Fletcher, Ms. Sherrill, Ms. Lee of Nevada, Mr. Frost, Mr. Moulton, Mr. Issa, Ms. Eshoo, Ms. Titus, Mr. Sherman, Mr. Smith of New Jersey, Mr. Payne, Mr. Fitzpatrick, Mr. Doggett, Ms. Wilson of Florida, and Ms. Stansbury), H132 [12JA] Cosponsors added, H190 [17JA], H242 [18JA] H. Res. 964 — A resolution providing the sense of the House of Representatives that the House should not adjourn until the annual appropriation bills within the jurisdiction of all the subcommittees of the Committee on Appropriations for the current fiscal year are enacted into law; to the Committee on Appropriations. By Mr. OGLES (for himself, Mr. Norman, Mr. Clyde, Mr. Weber of Texas, and Mrs. Luna), H132 [12JA] Cosponsors added, H148 [16JA] H. Res. 965 — A resolution calling for the immediate release of Ryan Corbett, a United States citizen, who was wrongfully detained by the Taliban on August 10, 2022, and condemning the wrongful detention of Americans by the Taliban; to the Committee on Foreign Affairs. By Ms. TENNEY (for herself, Mr. Meuser, Mr. Hill, Ms. Stevens, Mr. Ryan, Ms. Titus, Mr. Langworthy, Mr. D’Esposito, Mr. Lawler, Mr. Morelle, Ms. Malliotakis, Mr. McGarvey, Mr. Thompson of California, Mr. McCaul, Mr. Wilson of South Carolina, Mr. Costa, Mr. Waltz, Mr. Goldman of New York, Mr. Williams of New York, Mr. Garbarino, Mr. Molinaro, Mr. Tony Gonzales of Texas, Mr. Nunn of Iowa, Mr. Smith of New Jersey, Mr. Newhouse, and Mr. Stauber), H147 [16JA] Cosponsors added, H190 [17JA], H247 [22JA], H254 [25JA], H318 [30JA], H366 [31JA], H433 [5FE], H505 [6FE], H538 [7FE], H583 [13FE], H697 [26FE], H775 [29FE], H2136 [2AP], H3728 [11JN] Rules suspended. Agreed to in the House, H3697 [11JN] Text, H3697 [11JN] H. Res. 966 — A resolution condemning rape and sexual violence committed by Hamas in its war against Israel; to the Committee on Foreign Affairs. By Ms. LOIS FRANKEL of Florida (for herself, Mr. Diaz-Balart, Ms. Manning, Mrs. Kiggans of Virginia, Ms. Adams, Mr. Aderholt, Mr. Armstrong, Mr. Auchincloss, Mr. Bacon, Mr. Bilirakis, Ms. Bonamici, Mr. Boyle of Pennsylvania, Ms. Brownley, Mr. Bucshon, Mr. Carey, Mr. Carl, Ms. Castor of Florida, Mrs. Cherfilus-McCormick, Mr. Ciscomani, Mr. Cline, Mr. Cole, Mr. Costa, Ms. Craig, Mr. D’Esposito, Ms. Dean of Pennsylvania, Mr. Doggett, Mr. Donalds, Mr. Duarte, Mr. Dunn of Florida, Mr. Evans, Mr. Feenstra, Mr. Finstad, Mr. Fitzpatrick, Mr. Fleischmann, Mr. Scott Franklin of Florida, Mr. Frost, Mr. Fry, Mr. Gallagher, Mr. Gallego, Mr. Garbarino, Ms. Scanlon, Mr. Goldman of New York, Mrs. González-Colón, Mr. Gottheimer, Ms. Granger, Mr. Graves of Louisiana, Mr. Harris, Mrs. Harshbarger, Mrs. Hinson, Ms. Norton, Ms. Houlahan, Mr. Joyce of Ohio, Mr. Kean of New Jersey, Mr. Keating, Mrs. Kim of California, Ms. Kuster, Mr. Kustoff, Mr. LaMalfa, Mr. Lamborn, Mr. Landsman, Mr. Langworthy, Mr. Larson of Connecticut, Mr. LaTurner, Mr. Lawler, Ms. Lee of California, Ms. Letlow, Mr. Lieu, Mrs. Luna, Ms. Mace, Mr. Magaziner, Ms. Malliotakis, Mr. Mast, Mrs. McBath, Mr. McCaul, Ms. McCollum, Mr. McCormick, Mr. McGovern, Ms. Meng, Mrs. Miller of West Virginia, Mr. Miller of Ohio, Mrs. Miller-Meeks, Mr. Moore of Utah, Mr. Moskowitz, Mr. Nadler, Mr. Nickel, Mr. Norcross, Mr. Nunn of Iowa, Mr. Pallone, Mr. Panetta, Mr. Pappas, Mr. Pascrell, Mr. Peters, Ms. Pingree, Ms. Porter, Mr. Raskin, Mr. Rutherford, Mr. Ryan, Ms. Salazar, Ms. Salinas, Ms. Schakowsky, Mr. Schiff, Mr. Schneider, Ms. Schrier, Mr. Self, Mr. Sherman, Ms. Sherrill, Ms. Slotkin, Mr. Soto, Mrs. Spartz, Mr. Stanton, Ms. Stefanik, Mr. Steube, Ms. Stevens, Mr. Takano, Ms. Tenney, Mr. Thanedar, Mr. Thompson of California, Ms. Titus, Ms. Tokuda, Mrs. Torres of California, Mr. Torres of New York, Mrs. Trahan, Mr. Trone, Mr. Van Drew, Ms. Van Duyne, Mr. Walberg, Mr. Waltz, Ms. Wasserman Schultz, Mrs. Watson Coleman, Mr. Weber of Texas, Ms. Wild, Ms. Williams of Georgia, Ms. Wilson of Florida, Mr. Wilson of South Carolina, Mr. Yakym, Mr. Foster, Mrs. Dingell, Ms. Matsui, Ms. DeGette, Mrs. Fletcher, Mr. Williams of New York, Ms. Escobar, Mr. Alford, Ms. Lee of Nevada, Mr. Kilmer, Mr. Mills, Ms. Brown, Mr. Phillips, Mr. Ivey, Mrs. Sykes, Mr. Calvert, Mr. Johnson of Georgia, and Mr. Cohen), H147 [16JA] Cosponsors added, H242 [18JA], H247 [22JA], H254 [25JA], H274 [29JA], H390 [1FE], H538 [7FE], H583 [13FE] Rules suspended. Agreed to in the House, H612 [14FE] Text, H612 [14FE] H. Res. 967 — A resolution amending the Rules of the House of Representatives to permit Members to vote by proxy in certain cases, and for other purposes; to the Committee on Rules. By Mrs. LUNA (for herself, Ms. Jacobs, Mr. Cleaver, Ms. Tlaib, Mr. Vargas, Mr. Phillips, Mr. Lieu, Ms. Underwood, Mr. Mullin, Mr. Takano, Mrs. Chavez-DeRemer, Mr. Kilmer, Mrs. Miller of Illinois, Ms. Tokuda, Ms. Chu, Mr. Moulton, Mr. Davis of Illinois, Mr. Gaetz, Mr. Moskowitz, Ms. Dean of Pennsylvania, Ms. Schakowsky, Mr. Jackson of Illinois, and Mr. Evans), H147 [16JA] Cosponsors added, H190 [17JA], H242 [18JA], H254 [25JA], H433 [5FE] H. Res. 968 — A resolution calling on Congress to condemn voter suppression laws enacted by States and political subdivisions; to the Committee on the Judiciary. By Ms. NORTON, H147 [16JA] H. Res. 969 — A resolution providing for consideration of the bill (H.R. 6914) to require institutions of higher education to disseminate information on the rights of, and accommodations, and resources for, pregnant students, and for other purposes; providing for consideration of the bill (H.R. 6918) to prohibit the Secretary of Health and Human Services from restricting funding from pregnancy centers; and providing for consideration of the resolution (H. Res. 957) denouncing the Biden administration open borders policies, condemning the national security and public safety crisis along the southwest border, and urging President Biden to end his administration’s open-borders policies. By Mrs. FISCHBACH, H187 [17JA] Reported (H. Rept. 118–350), H187 [17JA] Debated, H154 [17JA] Text, H154 [17JA] Amendments, H164 [17JA] Agreed to in the House, H164 [17JA] H. Res. 970 — A resolution censuring Representative Elise Stefanik of the 21st Congressional District of New York; to the Committee on Ethics. By Mr. GOLDMAN of New York, H188 [17JA] H. Res. 971 — A resolution commemorating the 60th anniversary of the War on Poverty and acknowledging its shortcomings; to the Committee on Oversight and Accountability. By Mrs. WATSON COLEMAN (for herself, Ms. Lee of California, Mr. Johnson of Georgia, Mr. Espaillat, Mr. Thompson of Mississippi, Mrs. Peltola, Mr. Mullin, Ms. Kamlager-Dove, Ms. Schakowsky, Ms. Norton, Mr. McGarvey, Ms. Tokuda, Ms. Moore of Wisconsin, Mr. Carter of Louisiana, Ms. Jackson Lee, Mr. Trone, Ms. Sewell, Ms. Adams, Ms. Wilson of Florida, and Ms. Omar), H188 [17JA] Cosponsors added, H318 [30JA], H1150 [12MR] H. Res. 972 — A resolution raising awareness and encouraging the prevention of stalking by expressing support for the designation of January 2024 as ‘‘National Stalking Awareness Month’’; to the Committee on the Judiciary. By Mr. FITZPATRICK (for himself and Mrs. Dingell), H240 [18JA] Cosponsors added, H688 [20FE] H. Res. 973 — A resolution expressing the sense of the House of Representatives that Congress should fully fund border security personnel, immigration judges, and related personnel and border technology needs at the southern border; to the Committee on Homeland Security, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LANDSMAN, H240 [18JA] H. Res. 974 — A resolution expressing support for the designation of the week of January 21 through January 27, 2024, as ‘‘National School Choice Week’’; to the Committee on Education and the Workforce. By Mr. MOOLENAAR (for himself, Ms. Foxx, Mr. Walberg, Mr. Fry, Mr. Waltz, Mrs. Chavez-DeRemer, Mrs. Cammack, Mr. Kelly of Pennsylvania, Mr. Weber of Texas, Mr. D’Esposito, Mr. Allen, Mr. Dunn of Florida, Mr. Webster of Florida, Ms. Letlow, Mr. Issa, Mrs. Lesko, Mr. Burlison, Mr. Biggs, Mr. Cole, Mr. Fitzgerald, Mr. Ciscomani, Mr. Donalds, Mrs. Steel, Mr. Green of Tennessee, Mr. Duncan, Mr. Meuser, Mr. McCormick, Mr. Norman, Mrs. Hinson, Mr. Strong, Mr. Hern, Mr. Williams of New York, Mr. LaTurner, Mr. Joyce of Pennsylvania, Mr. Lawler, Mr. Self, Mr. Bergman, Mr. Bishop of North Carolina, Ms. Mace, Mr. Kiley, Mr. James, Mr. Carter of Texas, Mrs. Harshbarger, Mr. Carter of Georgia, Ms. Salazar, Mr. Smith of Nebraska, Mr. Newhouse, Mr. Graves of Louisiana, Mr. Bean of Florida, Mr. Lamborn, and Mr. Burchett), H240 [18JA] Cosponsors added, H247 [22JA], H254 [25JA] H. Res. 975 — A resolution recognizing Associated Builders and Contractors Florida East Coast Chapter and the many vital contributions merit shop commercial, industrial, and infrastructure construction contractors make to the quality of life of the people of Florida; to the Committee on Oversight and Accountability. By Mr. MOSKOWITZ (for himself and Mr. Gimenez), H240 [18JA] H. Res. 976 — A resolution recognizing the roles and the contributions of Americas Certified Registered Nurse Anesthetists (CRNAs) and their critical role in providing quality health care for the public and the Nations Armed Forces for more than 150 years, through multiple public health emergencies, and beyond; to the Committee on Energy and Commerce. By Ms. SCHAKOWSKY (for herself, Mr. Joyce of Ohio, Mr. Sablan, Mr. Bacon, Ms. Scanlon, Mr. Tonko, and Ms. Bonamici), H240 [18JA] Cosponsors added, H254 [25JA] H. Res. 977 — A resolution recognizing the importance and contributions of National Board Certified Teachers; to the Committee on Education and the Workforce. By Ms. LETLOW (for herself, Ms. Bonamici, Mr. Valadao, Mr. Davis of North Carolina, Mr. Guest, Mr. Trone, Mrs. McClain, Ms. Tokuda, Mr. Ezell, Ms. Brownley, Mrs. Chavez-DeRemer, Ms. Ross, Mr. Miller of Ohio, Mrs. McBath, Mr. Grijalva, Ms. Chu, Ms. Williams of Georgia, Ms. Craig, Ms. Sewell, Mr. Cartwright, Ms. Adams, Mr. Mullin, Ms. Leger Fernandez, Ms. Schrier, and Mr. Case), H246 [22JA] Cosponsors added, H274 [29JA], H318 [30JA], H390 [1FE], H682 [15FE] H. Res. 978 — A resolution encouraging all schools in the United States to teach students digital literacy and history related to the Holocaust, World War II, and antisemitism; to the Committee on Education and the Workforce. By Mr. KHANNA (for himself and Mr. Fitzpatrick), H252 [25JA] Cosponsors added, H366 [31JA], H583 [13FE], H2702 [29AP] H. Res. 979 — A resolution expressing the sense of the House of Representatives that public health authorities and tobacco control advocates should encourage American innovation and embrace harm reduction as part of the comprehensive United States approach to tobacco control; to the Committee on Energy and Commerce, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. RESCHENTHALER (for himself and Mr. Davis of North Carolina), H271 [29JA] Cosponsors added, H433 [5FE], H583 [13FE], H682 [15FE] H. Res. 980 — A resolution providing for consideration of the bill (H.R. 5585) to impose criminal and immigration penalties for intentionally fleeing a pursuing Federal officer while operating a motor vehicle; providing for consideration of the bill (H.R. 6678) to amend the Immigration and Nationality Act to provide that aliens who have been convicted of or who have committed Social Security fraud are inadmissible and deportable; providing for consideration of the bill (H.R. 6679) to amend the Immigration and Nationality Act with respect to aliens who carried out, participated in, planned, financed, supported, or otherwise facilitated the attacks against Israel; and providing for consideration of the bill (H.R. 6976) to amend the Immigration and Nationality Act to provide that aliens who have been convicted of or who have committed an offense for driving while intoxicated or impaired are inadmissible and deportable. By Mr. BURGESS, H270 [29JA] Reported (H. Rept. 118–362), H270 [29JA] Debated, H281 [30JA] Text, H281 [30JA] Amendments, H288 [30JA] Agreed to in the House, H289 [30JA] H. Res. 981 — A resolution recognizing the importance of Tribal colleges and universities to the United States and expressing support for designating the week beginning February 5, 2024, as ‘‘National Tribal Colleges and Universities Week’’; to the Committee on Oversight and Accountability. By Ms. DAVIDS of Kansas, H271 [29JA] H. Res. 982 — A resolution condemning the continued violence in Sudan and calling on the international community to unequivocally support diplomatic efforts to achieve a cessation of hostilities, ensure the protection of civilians and secure unfettered access for humanitarian aid; to the Committee on Foreign Affairs. By Mr. McCAUL (for himself, Mr. Meeks, Mr. James, Ms. Jacobs, Mrs. Kim of California, and Mr. Kildee), H271 [29JA] Cosponsors added, H366 [31JA], H2636 [26AP] H. Res. 983 — A resolution recognizing January 2024 as ‘‘National Mentoring Month’’; to the Committee on Education and the Workforce. By Ms. SCANLON (for herself, Mr. Bacon, Ms. Lois Frankel of Florida, Mrs. Cherfilus-McCormick, Ms. Williams of Georgia, Ms. Norton, Mrs. McBath, Ms. Chu, Mr. Allred, Mr. Trone, Mr. DeSaulnier, Mr. Grijalva, Ms. Titus, Ms. Lee of Nevada, and Ms. Blunt Rochester), H271 [29JA] Cosponsors added, H366 [31JA], H538 [7FE], H740 [28FE] H. Res. 984 — A resolution expressing support for the designation of January 30, 2024, as CTE (chronic traumatic encephalopathy) and RHI (repeated head impacts) Awareness Day; to the Committee on Energy and Commerce. By Mr. FITZPATRICK (for himself, Mr. DeSaulnier, and Mr. Langworthy), H316 [30JA] Cosponsors added, H366 [31JA] H. Res. 985 — A resolution supporting the contributions of Catholic schools in the United States and celebrating the 50th annual ‘‘National Catholic Schools Week’’; to the Committee on Education and the Workforce. By Mr. LaHOOD (for himself, Mr. Neal, Mr. Hill, Mr. Panetta, Mr. Costa, Mr. Valadao, Mr. Rutherford, Mr. Diaz-Balart, Mrs. Miller-Meeks, Mr. Graves of Louisiana, Mr. Stauber, Mr. McHenry, Mr. Flood, Mr. Pascrell, Mr. Joyce of Ohio, Mr. Latta, Mrs. Bice, Mr. Fitzpatrick, Mr. Boyle of Pennsylvania, Mr. Kelly of Pennsylvania, Mr. Steil, Mr. Mooney, Mr. Cuellar, Mr. D’Esposito, Mr. Gimenez, and Mr. Wenstrup), H316 [30JA] Cosponsors added, H505 [6FE] H. Res. 986 — A resolution condemning New York Governor Kathy Hochul for reducing funding for schools across New York State and prioritizing increased funding for migrants; to the Committee on Education and the Workforce. By Mr. MOLINARO (for himself, Ms. Stefanik, Mr. Garbarino, Mr. Langworthy, Ms. Tenney, Mr. D’Esposito, Mr. LaLota, Mr. Lawler, Ms. Malliotakis, and Mr. Williams of New York), H316 [30JA] H. Res. 987 — A resolution denouncing the harmful, anti-American energy policies of the Biden administration, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. NEWHOUSE (for himself, Ms. Boebert, Mr. Nehls, Mr. McClintock, Mr. Meuser, Mr. Donalds, Mr. Carey, Mr. Zinke, Mr. Fallon, Mr. Issa, Mr. Armstrong, Ms. Stefanik, Mr. Williams of Texas, Mr. Moylan, Mrs. Miller of West Virginia, Mr. Higgins of Louisiana, Mr. Womack, and Mr. Fulcher), H364 [31JA] Cosponsors added, H433 [5FE] Providing for consideration (H. Res. 994), H430 [5FE] Providing for consideration (H. Res. 1085), H1233 [19MR] Debated, H1314 [21MR] Text, H1314 [21MR] Agreed to in the House, H1321 [21MR] H. Res. 988 — A resolution supporting the values of the Equity or Else quality-of-life platform and acknowledging the need for the House of Representatives to use the platform as a holistic framework for drafting and implementing policy that promotes racial and economic equity for all across various social issues; to the Committee on the Judiciary. By Mr. BOWMAN (for himself, Mrs. Watson Coleman, Mr. Carson, Mr. García of Illinois, Mr. Johnson of Georgia, Ms. Lee of Pennsylvania, Mrs. Ramirez, Mr. Thanedar, Ms. Velázquez, and Ms. Tlaib), H364 [31JA] Cosponsors added, H2254 [9AP], H3400 [21MY] H. Res. 989 — A resolution expressing support for the recognition of January as ‘‘Muslim-American Heritage Month’’ and celebrating the heritage and culture of Muslim Americans in the United States; to the Committee on Oversight and Accountability. By Mr. CARSON (for himself, Ms. Adams, Mr. Bowman, Mr. Cleaver, Mr. Correa, Mrs. Dingell, Ms. Escobar, Mrs. Fletcher, Mr. Grijalva, Mr. Johnson of Georgia, Mr. Khanna, Mr. Krishnamoorthi, Ms. Lee of California, Ms. Norton, Ms. Omar, Mr. Pascrell, Ms. Porter, Ms. Pressley, Ms. Schakowsky, Mr. Smith of Washington, Ms. Stansbury, Ms. Tlaib, Mr. Tonko, Ms. Velázquez, Mrs. Watson Coleman, and Ms. Williams of Georgia), H364 [31JA] Cosponsors added, H390 [1FE], H433 [5FE], H538 [7FE], H640 [14FE] H. Res. 990 — A resolution expressing the sense of the House of Representatives that paraprofessionals and education support staff should have fair compensation, benefits, and working conditions; to the Committee on Education and the Workforce. By Mrs. HAYES (for herself, Ms. Kuster, Ms. Norton, Mr. Bowman, Mr. Grijalva, Mr. Schiff, Mrs. Watson Coleman, and Ms. Craig), H364 [31JA] Cosponsors added, H544 [9FE], H583 [13FE], H640 [14FE], H682 [15FE], H684 [16FE], H694 [23FE], H740 [28FE], H1001 [6MR], H1237 [19MR], H1500 [22MR], H2136 [2AP], H3206 [14MY] H. Res. 991 — A resolution condemning all acts of violence, oppression, and abuse against ethnic minorities in the Democratic Republic of the Congo; to the Committee on Foreign Affairs. By Mr. CARSON (for himself, Mr. Schiff, Mr. McGarvey, Mr. Thanedar, and Ms. Titus), H388 [1FE] Cosponsors added, H433 [5FE], H583 [13FE], H688 [20FE], H1150 [12MR], H2254 [9AP], H2399 [15AP], H3543 [31MY] H. Res. 992 — A resolution recognizing February 4, 2024, as ‘‘World Cancer Day’’, and its theme ‘‘Close the Care Gap’’, to raise awareness about and launch efforts to eliminate racial and ethnic inequities and disparities in cancer care both in the United States and globally; to the Committee on Energy and Commerce. By Ms. SEWELL (for herself, Mrs. Watson Coleman, Ms. Kelly of Illinois, and Mr. Grijalva), H388 [1FE] H. Res. 993 — A resolution supporting the goals and ideals of ‘‘Career and Technical Education Month’’; to the Committee on Education and the Workforce. By Mr. THOMPSON of Pennsylvania (for himself, Ms. Bonamici, Mr. Mann, Mrs. Trahan, Mr. Valadao, Ms. Adams, Mr. Smith of Washington, Mr. Thompson of California, Mr. Tonko, Mr. Costa, Mr. Bishop of Georgia, Mr. Smucker, Mr. Carter of Texas, Mr. Morelle, Mr. Wittman, Mr. Fitzpatrick, Mr. Trone, Mr. Ferguson, Mr. Reschenthaler, Mr. DeSaulnier, Ms. Craig, Mr. Bost, Mr. Van Orden, Mr. Magaziner, Mr. Veasey, Mr. Steil, and Ms. Kuster), H388 [1FE] Cosponsors added, H433 [5FE], H544 [9FE], H583 [13FE], H3531 [24MY] H. Res. 994 — A resolution providing for consideration of the bill (H.R. 7160) to amend the Internal Revenue Code of 1986 to modify the limitation on the amount certain married individuals can deduct for State and local taxes, and providing for consideration of the resolution (H. Res. 987) denouncing the harmful, anti-American energy policies of the Biden administration, and for other purposes. By Mr. LANGWORTHY, H430 [5FE] Reported (H. Rept. 118–373), H430 [5FE] Debated, H595 [14FE] Text, H595 [14FE] Agreed to in the House, H617 [14FE] H. Res. 995 — A resolution appointing and authorizing managers for the impeachment trial of Alejandro Nicholas Mayorkas, Secretary of Homeland Security; to the Committee on Homeland Security. By Mr. GREEN of Tennessee, H431 [5FE] Agreed to in the House (pursuant to H. Res. 996), H573 [13FE] Text, H573 [13FE] Message from the House, S2762, S2785 [16AP] Text, S2785 [16AP] H. Res. 996 — A resolution providing for consideration of the resolution (H. Res. 863) impeaching Alejandro Nicholas Mayorkas, Secretary of Homeland Security, for high crimes and misdemeanors, and providing for consideration of the bill (H.R. 485) to amend title XI of the Social Security Act to prohibit the use of quality-adjusted life years and similar measures in coverage and payment determinations under Federal health care programs. By Mr. BURGESS, H430 [5FE] Reported (H. Rept. 118–374), H430 [5FE] Debated, H437 [6FE] Text, H437 [6FE] Amendments, H447 [6FE] Agreed to in the House, H449 [6FE] H. Res. 997 — A resolution expressing the sense of the House of Representatives with respect to the legacy of Bob Marley; to the Committee on Education and the Workforce. By Ms. CLARKE of New York (for herself, Mr. Johnson of Georgia, Ms. Velázquez, and Mr. Payne), H431 [5FE] H. Res. 998 — A resolution expressing support for the designation of February 4, 2024, as ‘‘Transit Equity Day’’; to the Committee on Transportation and Infrastructure. By Mrs. FOUSHEE (for herself, Ms. Velázquez, Mr. Grijalva, Mr. Blumenauer, Mrs. Watson Coleman, Mr. Meeks, Mr. Takano, Ms. Lee of California, Ms. Ross, Ms. Moore of Wisconsin, Mr. Carson, Ms. Adams, Ms. Tokuda, Ms. Norton, Mr. DeSaulnier, Ms. Kelly of Illinois, and Ms. Omar), H431 [5FE] Cosponsors added, H1355 [21MR] H. Res. 999 — A resolution electing a Member to a certain standing committee of the House of Representatives. By Mr. AGUILAR, H502 [6FE] Agreed to in the House, H485 [6FE] Text, H485 [6FE] H. Res. 1000 — A resolution expressing support for the designation of February 4, 2024, as ‘‘National Cancer Prevention Day’’; to the Committee on Energy and Commerce. By Mrs. DINGELL (for herself and Mr. James), H502 [6FE] H. Res. 1001 — A resolution expressing the sense of the House of Representatives that former President Donald J. Trump did not engage in insurrection or rebellion against the United States, or give aid or comfort to the enemies thereof; to the Committee on the Judiciary. By Mr. GAETZ (for himself, Ms. Greene of Georgia, Mr. Ogles, Mrs. Luna, Mr. Collins, Mr. Hunt, Mr. Posey, Ms. Hageman, Mr. Steube, Mr. Rosendale, Mr. Burlison, Mr. Crane, Mr. Fry, Mr. Higgins of Louisiana, Mr. Mooney, Mr. Gosar, Mr. Biggs, Mr. Van Drew, Mr. Palmer, Mr. Nehls, Mr. Brecheen, Mrs. Miller of Illinois, Mrs. Harshbarger, Mr. Cloud, Mr. Gooden of Texas, Mr. Good of Virginia, Mr. Weber of Texas, Mr. Armstrong, Mr. Bost, Mr. Reschenthaler, Mr. Carter of Texas, Mr. Banks, Mr. Fleischmann, Mr. Babin, Mr. Waltz, Ms. Stefanik, Mr. Rose, Mr. Mann, Mrs. Houchin, Mr. Mills, Ms. Boebert, Mr. Alford, Mr. Bilirakis, Mr. Williams of Texas, Mr. Kelly of Mississippi, Mr. Moore of Alabama, Mr. Self, Mr. Mast, Mr. Burgess, Mr. Donalds, Mr. Fallon, Mr. Jackson of Texas, Mr. Clyde, Mrs. Lesko, Mr. Webster of Florida, Mr. Harris, Mr. Rutherford, Mr. Kelly of Pennsylvania, Mr. Bishop of North Carolina, Mr. Timmons, Mrs. McClain, Mr. Burchett, Mr. Norman, Mr. Davidson, Mr. Huizenga, Mr. Bergman, Mr. Moolenaar, Mr. Walberg, and Mr. Strong), H502 [6FE] Cosponsors added, H583 [13FE], H682 [15FE], H2254 [9AP] H. Res. 1002 — A resolution recognizing the cultural and historical significance of Lunar New Year in 2024; to the Committee on Oversight and Accountability. By Ms. MENG (for herself, Mr. Allred, Ms. Barragán, Mr. Bera, Ms. Bonamici, Mr. Bowman, Mr. Boyle of Pennsylvania, Mr. Carbajal, Mr. Case, Ms. Chu, Mr. Connolly, Mr. Correa, Ms. Crockett, Mr. Crow, Ms. DelBene, Mr. DeSaulnier, Mrs. Dingell, Mr. Doggett, Mr. Espaillat, Mr. Fitzpatrick, Mrs. Fletcher, Mr. Foster, Mrs. Foushee, Mr. Garamendi, Mr. Goldman of New York, Mr. Gomez, Mr. Gottheimer, Mr. Green of Texas, Mr. Grijalva, Ms. Jackson Lee, Ms. Jacobs, Ms. Jayapal, Mr. Johnson of Georgia, Ms. Kamlager-Dove, Mr. Khanna, Mr. Kilmer, Mr. Kim of New Jersey, Mrs. Kim of California, Mr. Krishnamoorthi, Ms. Lee of Nevada, Ms. Lee of California, Mr. Lieu, Ms. Matsui, Mrs. McBath, Mr. McGovern, Mr. Mullin, Mr. Nadler, Mrs. Napolitano, Mr. Nickel, Ms. Norton, Ms. Omar, Mr. Pallone, Mr. Payne, Mr. Peters, Ms. Porter, Ms. Pressley, Mr. Raskin, Ms. Ross, Mr. Sablan, Ms. Sánchez, Ms. Schakowsky, Mr. Schiff, Mr. Scott of Virginia, Ms. Sherrill, Mrs. Steel, Ms. Strickland, Mr. Swalwell, Mr. Takano, Mr. Thanedar, Ms. Titus, Ms. Tokuda, Mr. Torres of New York, Mrs. Torres of California, Mr. Trone, Mr. Vargas, Ms. Velázquez, Mrs. Watson Coleman, Ms. Williams of Georgia, and Ms. Eshoo), H536 [7FE] H. Res. 1003 — A resolution recognizing the accomplishments and the contributions of Vietnamese Americans; to the Committee on Oversight and Accountability. By Mr. CORREA (for himself, Mrs. Steel, Mr. Connolly, Ms. Titus, Ms. Williams of Georgia, Mr. Case, Ms. Norton, Mr. Peters, Mr. Vargas, Ms. Lofgren, Mr. Beyer, Ms. Porter, Mr. Lieu, Mrs. Napolitano, Mr. Thanedar, Ms. Lee of California, Mr. Khanna, Ms. Chu, and Mr. McGovern), H536 [7FE] Cosponsors added, H640 [14FE] H. Res. 1004 — A resolution expressing support for the designation of February 4 through February 10, 2024, as ‘‘National Burn Awareness Week’’; to the Committee on Oversight and Accountability. By Mr. THOMPSON of California (for himself and Mr. Joyce of Ohio), H536 [7FE] H. Res. 1005 — A resolution expressing the sense of the House of Representatives regarding the importance of local print and digital journalism to the continued welfare, transparency, and prosperity of government at every level and the continuation and freedom of the United States as it is known today; to the Committee on Oversight and Accountability. By Mr. DeSAULNIER (for himself, Mr. Raskin, and Ms. Norton), H543 [9FE] Cosponsors added, H583 [13FE] H. Res. 1006 — A resolution recognizing the birthday of legendary reggae artist Robert ‘‘Bob’’ Nesta Marley; to the Committee on Education and the Workforce. By Ms. CLARKE of New York (for herself, Mr. Johnson of Georgia, Ms. Velázquez, and Mr. Payne), H543 [9FE] H. Res. 1007 — A resolution amending the Rules of the House of Representatives to permit certain resolutions to be privileged only if they are based on conduct which was the subject of an investigation and report by the appropriate committee of jurisdiction or if they are offered by direction of a party caucus or conference; to the Committee on Rules. By Ms. PORTER (for herself, Mr. Krishnamoorthi, Mrs. Ramirez, and Ms. Williams of Georgia), H543 [9FE] Cosponsors added, H688 [20FE] H. Res. 1008 — A resolution supporting the designation of a ‘‘Boy Scouts of America Day’’ in celebration of its 114th anniversary; to the Committee on Oversight and Accountability. By Mr. THOMPSON of Pennsylvania (for himself and Mr. Bishop of Georgia), H543 [9FE] H. Res. 1009 — A resolution providing for consideration of the bill (H.R. 7176) to repeal restrictions on the export and import of natural gas. By Mr. RESCHENTHALER, H580 [13FE] Reported (H. Rept. 118–388), H580 [13FE] Debated, H603 [14FE] Text, H603 [14FE] Agreed to in the House, H616 [14FE] H. Res. 1010 — A resolution supporting the designation of February 2024 as ‘‘Hawaiian Language Month’’ or ‘‘Olelo Hawai’i Month’’; to the Committee on Education and the Workforce. By Ms. TOKUDA (for herself and Mr. Case), H581 [13FE] H. Res. 1011 — A resolution recognizing the duty of the Federal Government to create a Federal job guarantee; to the Committee on Education and the Workforce. By Ms. PRESSLEY, H638 [14FE] H. Res. 1012 — A resolution condemning the treatment of Dr. Gubad Ibadoghlu by the Government of Azerbaijan and urging his immediate release, and for other purposes; to the Committee on Foreign Affairs. By Mr. ROUZER (for himself, Mr. Valadao, Mr. Smith of New Jersey, Ms. Malliotakis, Mr. Bilirakis, Mr. Lawler, Mrs. Kim of California, Mr. Pallone, Mr. McGovern, Ms. Norton, Mr. Gottheimer, Mr. Kim of New Jersey, Mr. Schneider, Ms. Lee of California, Mr. Costa, Mr. Espaillat, Mr. Veasey, Mr. Raskin, Ms. Titus, Ms. Adams, Mr. Moulton, and Mr. Allred), H638 [14FE] Cosponsors added, H697 [26FE], H740 [28FE], H782 [1MR], H1150 [12MR], H2131 [29MR], H2254 [9AP], H2368 [12AP], H3583 [3JN] H. Res. 1013 — A resolution expressing support for designation of the month of February 2024 as ‘‘National Teen Dating Violence Awareness and Prevention Month’’; to the Committee on the Judiciary. By Ms. WEXTON (for herself, Ms. Dean of Pennsylvania, Mrs. Hinson, Mr. Fitzpatrick, Ms. Norton, Mr. Trone, Ms. Lois Frankel of Florida, Mr. Cleaver, Mrs. Dingell, Ms. Tokuda, Mr. Schiff, and Ms. Salinas), H638 [14FE] Cosponsors added, H740 [28FE] H. Res. 1014 — A resolution commemorating the heroic sacrifices of the Ukrainian people 2 years after Russia’s illegal and unprovoked invasion of Ukraine on February 24, 2022, and recognizing the terrible cost of Russia’s war of aggression; to the Committee on Foreign Affairs. By Ms. KAPTUR (for herself, Mr. Harris, Mr. Quigley, Mr. Fitzpatrick, Mr. Espaillat, Mr. Wilson of South Carolina, Mr. Landsman, Mrs. Spartz, Mr. Morelle, Mr. Pocan, Mr. Pascrell, Mr. Boyle of Pennsylvania, Mr. Auchincloss, Mr. Doggett, Ms. Titus, Mrs. Cherfilus-McCormick, Mr. Himes, Mr. Swalwell, Mr. Joyce of Ohio, Mr. Crow, Mr. Gottheimer, Mr. Casten, Mr. Krishnamoorthi, Mr. Goldman of New York, Ms. Wild, Mr. Davis of Illinois, Mr. Evans, Ms. Schakowsky, Mr. Carson, Mr. Bera, Mr. Cohen, and Mr. Mfume), H679 [15FE] Cosponsors added, H684 [16FE], H697 [26FE], H1298 [20MR], H3728 [11JN] H. Res. 1015 — A resolution expressing support for the designation of February 17 through February 24, 2024, as ‘‘National FFA Week’’, recognizing the important role of the National FFA Organization in developing the next generation of globally conscious leaders who will change the world, and celebrating the 10th anniversary of the ‘‘Give the Gift of Blue’’ program, which has donated more than 17,000 of the iconic FFA jackets to FFA members in need; to the Committee on Agriculture. By Mr. MANN (for himself, Mr. Panetta, Mr. Thompson of Pennsylvania, Ms. Bonamici, Mr. Carl, Mrs. Peltola, Mr. Rogers of Alabama, Mr. Aderholt, Mr. Westerman, Mr. Issa, Mr. Valadao, Mr. LaMalfa, Mr. Costa, Ms. Porter, Ms. Sánchez, Ms. Caraveo, Mr. Steube, Mrs. Cammack, Ms. Lee of Florida, Mr. Scott Franklin of Florida, Mr. Austin Scott of Georgia, Mr. Ferguson, Mr. Allen, Mr. Bishop of Georgia, Mrs. Hinson, Mr. Feenstra, Mr. Nunn of Iowa, Mr. Schneider, Mr. Davis of Illinois, Mr. LaHood, Mr. Sorensen, Mrs. Miller of Illinois, Mr. Bost, Ms. Budzinski, Mrs. Houchin, Mr. Pence, Mr. Baird, Mr. Banks, Mr. LaTurner, Mr. Estes, Ms. Davids of Kansas, Mr. Barr, Mr. Comer, Ms. Pingree, Mr. Kildee, Mr. Bergman, Mr. Moolenaar, Mr. Walberg, Ms. Craig, Ms. McCollum, Mr. Finstad, Mr. Stauber, Mrs. Wagner, Mr. Luetkemeyer, Mr. Cleaver, Mr. Smith of Missouri, Mr. Alford, Mr. Graves of Missouri, Mr. Guest, Mr. Kelly of Mississippi, Mr. Edwards, Mr. Rouzer, Mr. Davis of North Carolina, Mr. Armstrong, Mr. Smith of Nebraska, Mr. Bacon, Mr. Flood, Mr. Kean of New Jersey, Mr. Vasquez, Ms. Stansbury, Mr. Amodei, Mr. Langworthy, Mr. Latta, Mr. Balderson, Mr. Lucas, Mrs. Chavez-DeRemer, Mr. Fitzpatrick, Mr. Meuser, Mr. Cartwright, Mr. Kelly of Pennsylvania, Mr. Johnson of South Dakota, Mr. Kustoff, Mr. Ellzey, Mr. Carter of Texas, Mr. Gooden of Texas, Ms. De La Cruz, Mr. Jackson of Texas, Ms. Maloy, Mr. Cline, Mr. Wittman, Mr. Smith of Washington, Mrs. Rodgers of Washington, Mr. Newhouse, Mr. Van Orden, Mr. Grothman, Mr. Tiffany, Mrs. Miller of West Virginia, Ms. Hageman, Ms. Tokuda, Ms. Dean of Pennsylvania, and Mr. Soto), H679 [15FE] Cosponsors added, H775 [29FE] H. Res. 1016 — A resolution providing for consideration of the bill (H.R. 5673) to advance responsible policies; to the Committee on Rules. By Mr. McGOVERN, H679 [15FE] Discharge petition (Pet. no. 9) filed (March 12, 2024), H1190 [15MR] H. Res. 1017 — A resolution eliminating the restriction that witnesses may appear remotely at proceedings of committees of the House of Representatives only at the discretion of the chair of the committee; to the Committee on Rules. By Ms. PEREZ (for herself, Mr. Golden of Maine, and Mrs. Peltola), H679 [15FE] H. Res. 1018 — A resolution recognizing the remarkable achievements and patriotic service of late Michigan native Captain Claude A. Rowe, Jr., the only known member of the famed Tuskegee Airmen authorized to fly for two Allied countries during World War II; to the Committee on Armed Services. By Mr. THANEDAR, H679 [15FE] H. Res. 1019 — A resolution condemning the Nicaraguan Government’s unjust imprisonment of individuals affiliated with Mountain Gateway Ministry; to the Committee on Foreign Affairs. By Mr. MOORE of Alabama (for himself, Mr. Aderholt, Ms. Sewell, Mr. Roy, Mr. Carl, and Mr. Palmer), H684 [16FE] Cosponsors added, H1190 [15MR], H1500 [22MR], H2368 [12AP], H2445 [16AP], H2503 [17AP], H2523 [18AP], H2560 [19AP], H2831 [1MY], H2939 [7MY], H3000 [8MY], H3275 [15MY] H. Res. 1020 — A resolution expresses steadfast resolve with the people of Texas, condemns the current administration’s efforts to impose the consequences of illegal immigration on the States, and considers, pursuant to article III, section 3 of the Constitution, Joe Biden to be guilty of treason against the people of the United States; to the Committee on the Judiciary. By Mr. OGLES, H684 [16FE] H. Res. 1021 — A resolution providing the sense of the House of Representatives that the political persecution of President Donald J. Trump is morally unjustifiable and has damaged institutional trust to an extraordinary degree; that the Biden administration’s weaponization of the Federal Government against Donald Trump, the Republican Party’s nominee for President in 2024, must end; that those responsible for the persecution of Donald Trump within the Biden administration must be held accountable by Congress; and that the United States would benefit enormously from having Donald J. Trump inaugurated once again as the President of the United States on January 20, 2025; to the Committee on the Judiciary. By Mr. OGLES, H684 [16FE] Cosponsors added, H4110 [14JN] H. Res. 1022 — A resolution expressing support for the designation of the month of March 2024 as ‘‘National March into Literacy Month’’; to the Committee on Education and the Workforce. By Mr. ALLEN, H686 [20FE] Cosponsors added, H740 [28FE], H825 [5MR] H. Res. 1023 — A resolution requiring Members of the House of Representatives to serve one shift in a passenger seat of a law enforcement vehicle observing the work day of a local law enforcement officer once during each term as a Member of the House, and for other purposes; to the Committee on House Administration. By Ms. CRAIG, H686 [20FE] H. Res. 1024 — A resolution recognizing World Thinking Day as an annual celebration where members of the World Association of Girl Guides and Girl Scouts (WAGGGS), including members of Girl Scouts of the USA (GSUSA), champion international friendship and take the opportunity to speak out about issues that affect girls and young women across the globe; to the Committee on Foreign Affairs. By Mrs. KIM of California (for herself, Mrs. Watson Coleman, Mrs. Lesko, Ms. Lee of Nevada, and Ms. Garcia of Texas), H686 [20FE] Cosponsors added, H694 [23FE] H. Res. 1025 — A resolution expressing support for the designation of April 5, 2024, as ‘‘Barth Syndrome Awareness Day’’; to the Committee on Energy and Commerce. By Mr. TONKO (for himself, Mr. Bilirakis, and Mr. Norman), H686 [20FE] Cosponsors added, H775 [29FE], H1001 [6MR], H1355 [21MR], H2136 [2AP] H. Res. 1026 — A resolution supporting the goals and ideals of Black History Month and honoring the outstanding contributions of African-American Congressional Medal of Honor recipients; to the Committee on Armed Services. By Mrs. BEATTY (for herself, Ms. Adams, Mr. Bishop of Georgia, Ms. Blunt Rochester, Ms. Brown, Ms. Brownley, Mr. Cárdenas, Mr. Carson, Ms. Castor of Florida, Ms. Clarke of New York, Mr. Cleaver, Mr. Cohen, Mr. Costa, Ms. Crockett, Mr. Cuellar, Mr. Davis of Illinois, Ms. Dean of Pennsylvania, Ms. DelBene, Mr. DeSaulnier, Mr. Evans, Mrs. Foushee, Mr. Garamendi, Mr. Goldman of New York, Mrs. Hayes, Mr. Horsford, Mr. Johnson of Georgia, Ms. Kaptur, Ms. Kelly of Illinois, Mr. Larson of Connecticut, Ms. Lee of California, Mr. Lynch, Mr. Meeks, Ms. Moore of Wisconsin, Mr. Neguse, Ms. Norton, Mr. Payne, Ms. Scanlon, Ms. Schakowsky, Mr. David Scott of Georgia, Ms. Sewell, Ms. Strickland, Ms. Tlaib, Mr. Torres of New York, Ms. Wasserman Schultz, Mrs. Watson Coleman, Ms. Williams of Georgia, and Ms. Wilson of Florida), H692 [23FE] Cosponsors added, H740 [28FE] H. Res. 1027 — A resolution providing for consideration of the bill (H.R. 626) to advance commonsense policy priorities; to the Committee on Rules. By Mr. FITZPATRICK, H692 [23FE] Discharge petition (Pet. no. 10) filed (March 12, 2024), H1190 [15MR] H. Res. 1028 — A resolution commending Southern California Wineries and Vineyards Resolution; to the Committee on Agriculture. By Mr. ISSA (for himself and Mr. Calvert), H692 [23FE] H. Res. 1029 — A resolution amending the Rules of the House of Representatives to establish a Permanent Select Committee on Aging; to the Committee on Rules. By Mr. MAGAZINER (for himself, Mrs. Watson Coleman, Ms. Moore of Wisconsin, Ms. Pressley, Ms. Kaptur, Ms. Norton, Ms. Barragán, Ms. Lois Frankel of Florida, Mr. Takano, Ms. Castor of Florida, Mr. Amo, Ms. Matsui, Ms. Lee of California, Ms. Brownley, Ms. Bonamici, and Ms. Pingree), H692 [23FE] Cosponsors added, H1500 [22MR], H2445 [16AP] H. Res. 1030 — A resolution calling on Vice President Kamala Harris to convene and mobilize the principal officers of the executive departments of the Cabinet to activate section 4 of the 25th Amendment to declare President Joseph R. Biden incapable of executing the duties of his office and to immediately exercise powers as Acting President; to the Committee on the Judiciary. By Mr. BUCK, H696 [26FE] H. Res. 1031 — A resolution expressing the sense of the House of Representatives that the situation at the southern border is an invasion; to the Committee on Homeland Security. By Mrs. LESKO (for herself, Mr. Gooden of Texas, Mr. Ogles, Mr. Self, Mr. Norman, Mrs. Miller of Illinois, Mr. Burgess, Ms. De La Cruz, Mrs. Hinson, Mr. Brecheen, Mr. Moore of Alabama, Mr. Mike Garcia of California, Ms. Greene of Georgia, Mr. Burlison, Mr. Fulcher, Mr. Baird, Mrs. Harshbarger, Mr. Weber of Texas, Mr. Biggs, Ms. Mace, Mr. Duncan, Mr. Babin, Mr. Feenstra, Ms. Malliotakis, and Mr. Nehls), H696 [26FE] Cosponsors added, H740 [28FE], H775 [29FE], H825 [5MR], H1095 [11MR], H1150 [12MR], H2939 [7MY] H. Res. 1032 — A resolution expressing support for the designation of the week of February 26 through March 1, 2024, as ‘‘Public Schools Week’’; to the Committee on Oversight and Accountability. By Mr. POCAN (for himself, Mr. Thompson of Pennsylvania, Ms. Bonamici, Mr. Fitzpatrick, Ms. Adams, Mr. Allred, Mr. Amo, Mrs. Beatty, Mr. Bishop of Georgia, Mr. Bowman, Mr. Boyle of Pennsylvania, Ms. Brown, Ms. Brownley, Ms. Budzinski, Ms. Bush, Mr. Carson, Mr. Carter of Louisiana, Mr. Cohen, Mr. Costa, Ms. Craig, Mr. Crow, Mr. Davis of Illinois, Ms. Dean of Pennsylvania, Ms. DeGette, Ms. DelBene, Mr. DeSaulnier, Mrs. Dingell, Mr. Espaillat, Mr. Foster, Ms. Lois Frankel of Florida, Mr. Gallego, Mr. Garamendi, Mr. García of Illinois of Illinois, Mr. Gomez, Mr. Vicente Gonzalez of Texas, Mr. Gottheimer, Mr. Grijalva, Mr. Himes, Ms. Norton, Ms. Hoyle of Oregon, Ms. Kaptur, Mr. Khanna, Mr. Kildee, Mr. Kilmer, Mr. Kim of New Jersey, Mr. Larson of Connecticut, Ms. Lee of Nevada, Ms. Lee of California, Ms. Leger Fernandez, Mr. Magaziner, Ms. McClellan, Ms. McCollum, Mr. McGovern, Ms. Meng, Mr. Miller of Ohio, Ms. Moore of Wisconsin, Mr. Mullin, Mr. Panetta, Mr. Payne, Ms. Pingree, Ms. Porter, Ms. Pressley, Mr. Raskin, Mr. Sablan, Ms. Salinas, Ms. Sánchez, Ms. Scanlon, Ms. Schakowsky, Mr. Schiff, Mr. Schneider, Mr. David Scott of Georgia, Ms. Sewell, Mr. Sherman, Ms. Slotkin, Mr. Swalwell, Mr. Thompson of Mississippi, Mr. Thompson of California, Ms. Titus, Ms. Tlaib, Mr. Torres of New York, Mrs. Trahan, Ms. Velázquez, Ms. Williams of Georgia, Ms. Wilson of Florida, Mr. Cleaver, Ms. Jackson Lee, and Ms. Tokuda), H696 [26FE] Cosponsors added, H740 [28FE], H775 [29FE], H1059 [8MR], H4110 [14JN] H. Res. 1033 — A resolution expressing support for the designation of February 28, 2024, as Community Arts Education Day; to the Committee on Oversight and Accountability. By Ms. VELÁZQUEZ (for herself, Mr. Grijalva, Mr. Cleaver, Ms. Norton, and Ms. Schakowsky), H738 [28FE] H. Res. 1034 — A resolution electing Members to certain standing committees of the House of Representatives. By Mr. AGUILAR, H772 [29FE] Agreed to in the House, H766 [29FE] H. Res. 1035 — A resolution recognizing the significance of the Greensboro Four sit-in during Black History Month; to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. ADAMS (for herself, Ms. Manning, Mrs. Foushee, Mr. Jackson of North Carolina, Mr. Nickel, Ms. Norton, Mr. Veasey, Ms. Lee of California, Ms. Tlaib, Ms. Moore of Wisconsin, Mr. Johnson of Georgia, Mr. Goldman of New York, Ms. Sánchez, Mr. Carson, Ms. Brown, Mr. Espaillat, and Mr. Ivey), H772 [29FE] Cosponsors added, H825 [5MR] H. Res. 1036 — A resolution expressing support for the designation of February 29, 2024, as ‘‘Rare Disease Day’’; to the Committee on Energy and Commerce. By Mr. CARSON (for himself, Mr. Bacon, Ms. Barragán, Mrs. Beatty, Ms. Caraveo, Mr. Davis of North Carolina, Mr. Fitzpatrick, Mr. Gallego, Mrs. González-Colón, Mr. Hudson, Ms. Jackson Lee, Ms. Kamlager-Dove, Mr. Kean of New Jersey, Ms. Lee of California, Mr. McGovern, Mr. Mullin, Ms. Norton, Ms. Porter, Ms. Sewell, Ms. Stansbury, Mr. Swalwell, Ms. Tlaib, Ms. Tokuda, and Mr. Trone), H772 [29FE] H. Res. 1037 — A resolution providing the sense of the House of Representatives that In Vitro Fertilization (IVF) is necessary for women who cannot conceive naturally, and for other purposes; to the Committee on Energy and Commerce. By Mrs. CHAVEZ-DeREMER (for herself, Mrs. Steel, and Mr. Ciscomani), H772 [29FE] Cosponsors added, H825 [5MR], H1001 [6MR], H1183 [13MR], H1190 [15MR], H1237 [19MR], H2771 [30AP], H3275 [15MY] H. Res. 1038 — A resolution recognizing and honoring Burnsville, Minnesota, law enforcement and first responders for their heroic actions; to the Committee on the Judiciary. By Ms. CRAIG (for herself, Mr. Finstad, Mr. Phillips, Ms. McCollum, Mr. Emmer, Mrs. Fischbach, and Mr. Stauber), H772 [29FE] H. Res. 1039 — A resolution recognizing the significance of Charcot-Marie-Tooth disease and the need for robust funding of the National Institute of Neurological Disorders and Stroke at the National Institutes of Health; to the Committee on Energy and Commerce. By Mr. GOTTHEIMER (for himself and Mr. Bacon), H772 [29FE] H. Res. 1040 — A resolution recognizing and celebrating the significance of Black History Month; to the Committee on Oversight and Accountability. By Mr. GREEN of Texas (for himself, Ms. Adams, Mr. Amo, Ms. Barragán, Mr. Bishop of Georgia, Mr. Blumenauer, Ms. Bonamici, Mr. Bowman, Ms. Brown, Ms. Brownley, Mr. Carbajal, Mr. Cárdenas, Mr. Carson, Mr. Carter of Louisiana, Mr. Case, Mr. Costa, Ms. Crockett, Mr. Davis of Illinois, Mr. Davis of North Carolina, Ms. Dean of Pennsylvania, Ms. DelBene, Mr. Deluzio, Mr. DeSaulnier, Mrs. Dingell, Mr. Doggett, Ms. Escobar, Mr. Espaillat, Mrs. Fletcher, Mr. Frost, Mr. Garamendi, Ms. Garcia of Texas, Mr. Goldman of New York, Mr. Ivey, Ms. Jackson Lee, Mr. Johnson of Georgia, Ms. Kamlager-Dove, Mr. Krishnamoorthi, Mr. Landsman, Ms. Lee of California, Ms. McCollum, Mr. McGovern, Ms. Moore of Wisconsin, Mr. Morelle, Mr. Moulton, Mr. Mullin, Mrs. Napolitano, Ms. Norton, Ms. Omar, Mr. Peters, Mr. Phillips, Ms. Porter, Ms. Pressley, Ms. Salinas, Ms. Sánchez, Ms. Schakowsky, Mr. David Scott of Georgia, Mrs. Cherfilus-McCormick, Ms. Stansbury, Ms. Titus, Ms. Tlaib, Mr. Trone, Mr. Vargas, Ms. Velázquez, Ms. Wasserman Schultz, Mrs. Watson Coleman, Ms. Williams of Georgia, and Ms. Wilson of Florida), H772 [29FE] H. Res. 1041 — A resolution condemning the order issued by the International Court of Justice on January 26, 2024, imposing provisional measures against Israel; to the Committee on Foreign Affairs. By Mr. JACKSON of Texas (for himself, Mr. Kustoff, Mr. Bost, Mrs. Miller of West Virginia, Mr. Fleischmann, Mr. Guest, Mr. Weber of Texas, Mr. Self, Mr. Ellzey, Mr. Wilson of South Carolina, Mr. Tiffany, Mrs. Harshbarger, Mr. Bergman, Ms. Mace, Mr. Ciscomani, Mr. Lawler, Mr. D’Esposito, Mr. Fitzpatrick, Mr. Nehls, and Mr. Langworthy), H772 [29FE] H. Res. 1042 — A resolution recognizing the historical contributions and value of the Freedom House Ambulance Service; to the Committee on Energy and Commerce. By Ms. LEE of Pennsylvania (for herself, Ms. Sewell, Mr. Deluzio, Ms. Lee of California, Mr. Carter of Louisiana, Mr. Johnson of Georgia, Ms. Jackson Lee, and Ms. Wild), H772 [29FE] Cosponsors added, H825 [5MR], H1059 [8MR], H2254 [9AP], H3543 [31MY], H3657 [4JN] H. Res. 1043 — A resolution expressing support for continued access to fertility care and assisted reproductive technology, such as in vitro fertilization, in light of the Supreme Court of Alabama’s ruling that has jeopardized access to in vitro fertilization and other assisted reproductive technology; to the Committee on Energy and Commerce. By Ms. MACE (for herself, Mr. Van Drew, Mr. D’Esposito, Mr. Bacon, Mrs. Kiggans of Virginia, Mr. LaLota, and Mr. Schweikert), H772 [29FE] H. Res. 1044 — A resolution expressing support for the designation of February 2024 as ‘‘National Youth Leadership Month’’; to the Committee on Education and the Workforce. By Ms. MOORE of Wisconsin (for herself, Ms. Mace, Mr. Soto, Mr. Bacon, Mr. Kilmer, Mr. Allred, Mrs. Ramirez, Ms. Tokuda, Mr. Frost, and Ms. Crockett), H772 [29FE] H. Res. 1045 — A resolution expressing support for the designation of March 3, 2024, as ‘‘National Triple-Negative Breast Cancer Day’’; to the Committee on Oversight and Accountability. By Mr. MORELLE, H772 [29FE] H. Res. 1046 — A resolution honoring the brave men and women who participated in the Afghanistan evacuation in 2021 following the United States withdrawal, for their extraordinary efforts and exceptional service in the safe evacuation of over 17,000 people from Taliban-controlled Afghanistan, and for other purposes; to the Committee on Armed Services. By Mr. NORMAN (for himself, Mrs. Miller of Illinois, Mr. Weber of Texas, Mr. Gimenez, Mrs. Spartz, and Mr. Mooney), H772 [29FE] Cosponsors added, H1183 [13MR] H. Res. 1047 — A resolution recognizing the need of Congress to prevent, address, and treat obesity as a disease in the United States on this World Obesity Day, March 4, 2024; to the Committee on Energy and Commerce. By Mrs. CHERFILUS-McCORMICK (for herself, Ms. Moore of Wisconsin, Mr. Payne, and Ms. Williams of Georgia), H781 [1MR] Cosponsors added, H825 [5MR], H1095 [11MR] H. Res. 1048 — A resolution expressing the sense of the House of Representatives that the plight of Cameroonian immigrants and the continued turmoil and instability in the nation of Cameroon merits a designation of humanitarian parole and calling on the Department of Homeland Security to create a humanitarian parole program for Cameroonians fleeing this violence; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. ESPAILLAT (for himself, Mr. Ivey, Mr. Trone, Mr. Bowman, Ms. Ocasio-Cortez, Mr. Ruppersberger, Mr. Cleaver, and Mr. McGovern), H781 [1MR] Cosponsors added, H825 [5MR], H1150 [12MR] H. Res. 1049 — A resolution expressing the need for enhanced public awareness of traumatic brain injury and support for the designation of a National Brain Injury Awareness Month; to the Committee on Energy and Commerce. By Mr. PASCRELL (for himself and Mr. Bacon), H781 [1MR] H. Res. 1050 — A resolution supporting the designation of March 2024 as National Colorectal Cancer Awareness Month; to the Committee on Oversight and Accountability. By Mr. PAYNE (for himself, Ms. Williams of Georgia, Ms. Sewell, Ms. Clarke of New York, Mr. Davis of Illinois, Ms. Norton, Mrs. Watson Coleman, Ms. McClellan, Mr. Tonko, Ms. Wilson of Florida, Ms. Jackson Lee, Mr. Fitzpatrick, Mr. Bacon, Ms. Adams, Mr. Ivey, and Mr. Bishop of Georgia), H781 [1MR] Cosponsors added, H825 [5MR], H1059 [8MR], H1095 [11MR], H1190 [15MR], H1237 [19MR], H1355 [21MR], H2121 [26MR], H2131 [29MR], H2143 [5AP], H2254 [9AP] H. Res. 1051 — A resolution recognizing the importance of the national security risks posed by foreign adversary controlled social media applications; to the Committee on Energy and Commerce. By Mr. GALLAGHER (for himself and Mr. Krishnamoorthi), H821 [5MR] Text, S2964 [23AP] H. Res. 1052 — A resolution providing for consideration of the bill (H.R. 2799) to make reforms to the capital markets of the U.S., and for other purposes; providing for consideration of the bill (H.R. 7511) to require the Secretary of Homeland Security to take into custody aliens who have been charged in the U.S. with theft, and for other purposes. By Mrs. HOUCHIN, H820 [5MR] Reported (H. Rept. 118–407), H820 [5MR] Debated, H834 [6MR] Text, H834 [6MR] Amendments, H842 [6MR] Agreed to in the House, H969 [6MR] H. Res. 1053 — A resolution reaffirming the deep and steadfast United States-Canada partnership and the ties that bind the two countries in support of economic and national security; to the Committee on Foreign Affairs. By Mr. AMODEI (for himself, Mrs. Fletcher, Mr. Lamborn, Ms. Titus, Mr. Schweikert, Mr. Joyce of Pennsylvania, Mr. Morelle, Mr. Moskowitz, Mr. Moore of Utah, Mr. Veasey, Mr. Costa, Mrs. Miller of West Virginia, Ms. Schakowsky, Mr. Quigley, Ms. McClellan, Mr. Flood, Mr. Molinaro, Ms. Lofgren, and Mr. Grothman), H821 [5MR] Cosponsors added, H1059 [8MR], H1095 [11MR], H1183 [13MR], H1298 [20MR], H1500 [22MR], H2121 [26MR], H2143 [5AP], H3206 [14MY], H4110 [14JN] H. Res. 1054 — A resolution recognizing the roles and contributions of military animals and their valiant human handlers for bravery in both war and peace, and acknowledging the importance of creating a process for honoring their valor and meritorious achievements; to the Committee on Armed Services. By Ms. BROWNLEY (for herself, Mr. Bilirakis, Mr. Raskin, Mr. Calvert, Mr. Baird, Mr. Veasey, and Mr. Fitzpatrick), H821 [5MR] H. Res. 1055 — A resolution congratulating the Kansas City Chiefs on their victory in Super Bowl LVIII; to the Committee on Oversight and Accountability. By Mr. CLEAVER (for himself, Mr. Graves of Missouri, Ms. Davids of Kansas, Mr. Alford, Mr. LaTurner, Mr. Smith of Missouri, Mr. Luetkemeyer, and Mr. Nunn of Iowa), H821 [5MR] H. Res. 1056 — A resolution recognizing the importance of trilateral cooperation among the United States, Japan, and South Korea; to the Committee on Foreign Affairs. By Mr. CONNOLLY (for himself, Mr. Wilson of South Carolina, Mr. Meeks, Mr. McCaul, Mr. Bera, Mr. Kelly of Pennsylvania, Mr. Castro of Texas, Mr. Smith of Nebraska, Ms. Titus, Mrs. Kim of California, Mr. Schneider, Mr. Moylan, Mr. Lieu, Mrs. Steel, Mrs. Cherfilus-McCormick, Mr. Kean of New Jersey, Mr. Keating, Mrs. Radewagen, Mr. Amo, Mr. Lawler, Mr. Allred, Mr. McCormick, and Ms. Kamlager-Dove), H821 [5MR] H. Res. 1057 — A resolution denouncing calls for a cease-fire in Gaza; to the Committee on Foreign Affairs. By Mr. GOOD of Virginia (for himself, Mr. Ogles, Ms. Mace, Mr. Norman, Mr. Higgins of Louisiana, Mr. Posey, Mr. LaMalfa, Mr. Mooney, Mr. Donalds, Mr. Clyde, Mrs. Miller of Illinois, Mrs. Harshbarger, Mr. Weber of Texas, Mr. Brecheen, Mr. Palmer, Mr. Ezell, Mr. Wilson of South Carolina, Mr. Biggs, and Mr. Burlison), H821 [5MR] H. Res. 1058 — A resolution congratulating Iowa native Caitlin Clark on becoming the National Collegiate Athletic Association Division I basketball leading scorer; to the Committee on Education and the Workforce. By Mrs. MILLER-MEEKS (for herself, Mr. Nunn of Iowa, Mr. Feenstra, and Mrs. Hinson), H821 [5MR] H. Res. 1059 — A resolution expressing support for the designation of the week beginning March 5, 2024, as ‘‘School Social Work Week’’; to the Committee on Education and the Workforce. By Ms. MOORE of Wisconsin (for herself and Ms. Lee of California), H821 [5MR] H. Res. 1060 — A resolution expressing support for starting and growing families through in vitro fertilization; to the Committee on Energy and Commerce. By Mrs. CAMMACK, H999 [6MR] H. Res. 1061 — A resolution providing for the concurrence by the House in the Senate amendment to H.R. 4366, with an amendment. By Ms. GRANGER, H999 [6MR] Debated, H842 [6MR] Text, H842 [6MR] Rules suspended. Agreed to in the House, H971 [6MR] H. Res. 1062 — A resolution declaring racism a public health crisis; to the Committee on Energy and Commerce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. HAYES (for herself and Mr. Cárdenas), H999 [6MR] H. Res. 1063 — A resolution reaffirming the United States full and unwavering commitment to the North Atlantic Treaty Organization in its 75th anniversary year and its goals of achieving collective security through transatlantic partnerships; to the Committee on Foreign Affairs. By Mr. KEATING (for himself, Mr. Turner, Mr. Panetta, Mr. Wilson of South Carolina, Mr. Connolly, Mr. Kean of New Jersey, Mr. McCaul, Mr. Meeks, Mr. Costa, Mr. Boyle of Pennsylvania, Ms. Kamlager-Dove, Mr. Gottheimer, Mr. Swalwell, Mr. Lieu, Mr. Gallego, Ms. Titus, Mr. Goldman of New York, Mr. Schneider, Mrs. Radewagen, Ms. Norton, Mr. Schiff, Ms. Dean of Pennsylvania, Mr. Sherman, Ms. Wild, Mr. Allred, Mrs. Cherfilus-McCormick, Mr. Norcross, Mr. Guthrie, Ms. Lois Frankel of Florida, Mr. Bera, Mr. Lawler, Mr. Jackson of Illinois, Mr. Kim of New Jersey, Mr. Amo, Mr. Stanton, Ms. Garcia of Texas, Mr. Magaziner, Mr. Lynch, Mr. McCormick, Mr. Case, Mr. McGovern, and Mrs. Peltola), H999 [6MR] Cosponsors added, H1035 [7MR], H1095 [11MR], H1237 [19MR], H2319 [11AP], H2702 [29AP], H3358 [17MY], H3400 [21MY], H3535 [28MY], H3728 [11JN], H4064 [13JN], H4116 [18JN] H. Res. 1064 — A resolution recognizing the role and responsibilities of Texas operating the Electric Reliability Council of Texas and condemning any action to federalize the Texas electricity markets; to the Committee on Energy and Commerce. By Mr. WEBER of Texas (for himself, Mr. Nehls, Mr. Fallon, Mr. Carter of Texas, Mr. Burgess, Mr. Self, Mr. Tony Gonzales of Texas, and Mr. Sessions), H999 [6MR] Cosponsors added, H1150 [12MR] H. Res. 1065 — A resolution denouncing the Biden administration’s immigration policies; to the Committee on the Judiciary. By Ms. De La CRUZ, H1033 [7MR] Providing for consideration (H. Res. 1071), H1092 [11MR] Debated, H1127 [12MR] Text, H1127 [12MR] Agreed to in the House, H1133 [12MR] H. Res. 1066 — A resolution calling for the immediate release of Mahmood Habibi, a United States citizen, who was wrongfully detained by the Taliban on August 10, 2022, and condemning the wrongful detention of United States citizens by the Taliban; to the Committee on Foreign Affairs. By Ms. LOFGREN, H1033 [7MR] Cosponsors added, H2560 [19AP] H. Res. 1067 — A resolution recognizing the 175th anniversary of the organization of Laclede County, Missouri, and the city of Lebanon, Missouri; to the Committee on Oversight and Accountability. By Mr. ALFORD, H1057 [8MR] H. Res. 1068 — A resolution condemning rape and sexual violence against women; to the Committee on Foreign Affairs, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. DINGELL (for herself, Ms. Tokuda, Ms. Salinas, Mr. Thanedar, Mr. Goldman of New York, Mr. Vargas, Mr. Doggett, Ms. Wild, Ms. Garcia of Texas, Ms. Jayapal, Mr. Schiff, Ms. Lee of California, Ms. Moore of Wisconsin, Ms. Lee of Pennsylvania, Mr. Levin, Mr. Espaillat, Mr. Casar, Mr. Garamendi, Ms. Norton, Mr. Grijalva, Mr. McGovern, and Ms. Stansbury), H1057 [8MR] Removal of cosponsors, H1237 [19MR], H1298 [20MR], H1355 [21MR] H. Res. 1069 — A resolution demanding that the Government of the People’s Republic of China and the Chinese Communist Party immediately release Kai Li; to the Committee on Foreign Affairs. By Mr. LaLOTA, H1057 [8MR] H. Res. 1070 — A resolution recognizing the essential work of the National League of Cities; to the Committee on Oversight and Accountability. By Mr. STANTON (for himself and Ms. Granger), H1057 [8MR] H. Res. 1071 — A resolution providing for consideration of the bill (H.R. 6276) to direct the Administrator of General Services and the Director of the Office of Management and Budget to identify the utilization rate of certain public buildings and federally-leased space, and for other purposes; and providing for consideration of the resolution (H. Res. 1065) denouncing the Biden administration’s immigration policies. By Mr. MASSIE, H1092 [11MR] Reported (H. Rept. 118–419), H1092 [11MR] Debated, H1106 [12MR] Text, H1106 [12MR] Amendments, H1114 [12MR] Agreed to in the House, H1115 [12MR] H. Res. 1072 — A resolution recognizing the 65th anniversary of the Tibetan Uprising Day of March 10, 1959, and condemning human rights violations related to the hydropower dam construction project in Derge; to the Committee on Foreign Affairs. By Mr. McGOVERN (for himself and Mrs. Kim of California), H1093 [11MR] Cosponsors added, H1237 [19MR], H1298 [20MR], H2143 [5AP], H2939 [7MY], H3400 [21MY], H3682 [7JN] H. Res. 1073 — A resolution amending the Rules of the House of Representatives to deny the privilege of admission to the Hall of the House to former Members who have been expelled from the House; to the Committee on Rules. By Mr. TORRES of New York, H1093 [11MR] H. Res. 1074 — A resolution reaffirming the House of Representatives support of a two-state solution; to the Committee on Foreign Affairs. By Ms. ESCOBAR (for herself, Ms. Kuster, Ms. Chu, Ms. Jacobs, Ms. McCollum, Ms. Kaptur, Mr. Carbajal, Mr. Connolly, Mr. Moulton, Ms. Wild, Ms. Schakowsky, Mr. Sherman, Ms. Dean of Pennsylvania, Mr. Castro of Texas, Mr. Krishnamoorthi, Ms. DelBene, Ms. DeLauro, Mr. Raskin, Ms. Lee of California, Mr. Levin, Mr. Doggett, Ms. Barragán, Mr. Himes, Mr. McGovern, Mr. Beyer, Mr. Blumenauer, Ms. Bonamici, Ms. Brownley, Ms. Budzinski, Mr. Cárdenas, Mr. Carson, Mr. Casten, Mr. Case, Mr. Cohen, Mr. Crow, Mr. Davis of Illinois, Mr. Deluzio, Mr. DeSaulnier, Mrs. Dingell, Ms. DeGette, Ms. Eshoo, Mr. Evans, Mrs. Fletcher, Mr. Foster, Mr. Frost, Mr. Robert Garcia of California, Mr. Garamendi, Ms. Garcia of Texas, Mr. Green of Texas, Mr. Gomez, Mr. Grijalva, Mrs. Hayes, Mr. Huffman, Mr. Johnson of Georgia, Ms. Kamlager-Dove, Ms. Kelly of Illinois, Mr. Khanna, Mr. Kildee, Mr. Landsman, Mr. Larsen of Washington, Mr. Larson of Connecticut, Ms. Lofgren, Mr. Lynch, Mr. Magaziner, Ms. McClellan, Mr. Mfume, Ms. Moore of Wisconsin, Mr. Mr van, Ms. Norton, Mr. Pappas, Mr. Pascrell, Mr. Peters, Ms. Pingree, Ms. Pettersen, Mr. Pocan, Ms. Porter, Mr. Quigley, Mr. Ruiz, Ms. Blunt Rochester, Mr. Ryan, Ms. Salinas, Mr. Sarbanes, Ms. Sewell, Mr. Soto, Mrs. Sykes, Mr. Takano, Mr. Thompson of California, Ms. Tokuda, Mr. Tonko, Mrs. Trahan, Mr. Trone, Ms. Velázquez, Mrs. Watson Coleman, Ms. Wexton, Mr. Swalwell, and Ms. Williams of Georgia), H1148 [12MR] H. Res. 1075 — A resolution recognizing the contributions of AmeriCorps members and alumni and AmeriCorps Seniors volunteers in the lives of the people and communities of the United States; to the Committee on Education and the Workforce. By Ms. MATSUI (for herself, Mr. Graves of Louisiana, Mr. Kilmer, Ms. DeLauro, Ms. Wilson of Florida, Ms. Norton, Mr. Carson, Mr. Cleaver, Ms. Houlahan, Mr. Allred, Ms. Moore of Wisconsin, Ms. Schakowsky, Mr. Kim of New Jersey, and Mr. Larson of Connecticut), H1148 [12MR] H. Res. 1076 — A resolution recognizing Girl Scouts of the United States of America on its 112th birthday and celebrating its legacy of providing girls with a secure, inclusive space where they can explore their world, build meaningful relationships, and have access to experiences that prepare them for a life of leadership; to the Committee on Oversight and Accountability. By Ms. WASSERMAN SCHULTZ (for herself, Mrs. Rodgers of Washington, Mrs. Watson Coleman, and Mrs. Kim of California), H1148 [12MR] Cosponsors added, H2143 [5AP], H3206 [14MY] H. Res. 1077 — A resolution expressing support for the designation of the third week of March 2024 as ‘‘National CACFP Week’’; to the Committee on Education and the Workforce. By Ms. BONAMICI (for herself, Mr. Molinaro, Mr. McGovern, Mrs. Watson Coleman, Ms. Norton, Ms. Tokuda, Ms. Williams of Georgia, Ms. Lee of California, and Ms. Stevens), H1180 [13MR] H. Res. 1078 — A resolution recognizing the 75th anniversary of the National Institute of Dental and Craniofacial Research and its critical role in improving the dental, oral, and craniofacial health of the United States through research, training, and the dissemination of health information; to the Committee on Energy and Commerce. By Mr. BABIN, H1180 [13MR] H. Res. 1079 — A resolution expressing support for the continued value of arms control agreements and condemning the Russian Federation’s purported suspension of its participation in the New START Treaty; to the Committee on Foreign Affairs. By Mr. FOSTER (for himself, Mr. Meeks, Ms. Lee of California, Mr. Beyer, Mr. Garamendi, Ms. Titus, Mr. Keating, Mr. McGovern, Ms. Omar, Ms. Schakowsky, Ms. Norton, Mr. Vargas, Mr. Schiff, Ms. Porter, Ms. Kamlager-Dove, Mr. García of Illinois, Mr. Lieu, Mr. Blumenauer, Ms. Bonamici, Ms. Kuster, Mr. Morelle, Ms. Tokuda, Mr. Goldman of New York, Mr. Amo, and Mr. Allred), H1180 [13MR] Cosponsors added, H1237 [19MR], H2131 [29MR], H2143 [5AP], H2939 [7MY], H3206 [14MY], H3728 [11JN] H. Res. 1080 — A resolution expressing the sense of Congress that coordinated action must be taken by the United States Government and partner countries to address the humanitarian and human rights crises facing North Koreans in the People’s Republic of China, including forced labor, arbitrary detention, human trafficking, and the forcible repatriation from China; to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. STEEL (for herself, Mr. Smith of New Jersey, Mr. Gottheimer, Mrs. Kim of California, and Mr. D’Esposito), H1180 [13MR] Cosponsors added, H1237 [19MR] H. Res. 1081 — A resolution amending the Rules of the House of Representatives to establish a Committee on Health as a standing committee of the House; to the Committee on Rules. By Mr. DAVIDSON, H1188 [15MR] H. Res. 1082 — A resolution calling upon the International Seabed Authority to adopt regulations allowing the collection of critical minerals from the international seabed area, which will enable America to regain reliable and responsible supply chains, provide high-wage jobs for United States citizens, secure supply chains away from the People’s Republic of China’s dominance of the critical mineral supply chain, and for other purposes; to the Committee on Natural Resources, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HUNT, H1188 [15MR] Cosponsors added, H2254 [9AP] H. Res. 1083 — A resolution recognizing the longstanding and invaluable contributions of Black midwives to maternal and infant health in the United States; to the Committee on Energy and Commerce, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MOORE of Wisconsin (for herself, Ms. Adams, Mrs. Watson Coleman, Mr. Davis of Illinois, and Mrs. McBath), H1188 [15MR] H. Res. 1084 — A resolution condemning the killing of Alexei Navalny and calling for the release of all political prisoners in the Russian Federation; to the Committee on Foreign Affairs. By Ms. WILD (for herself and Mrs. Wagner), H1188 [15MR] Cosponsors added, H1237 [19MR], H1298 [20MR] H. Res. 1085 — A resolution providing for consideration of the bill (H.R. 1023) to repeal section 134 of the Clean Air Act, relating to the greenhouse gas reduction fund; providing for consideration of the bill (H.R. 1121) to prohibit a moratorium the use of hydraulic fracturing; providing for consideration of the bill (H.R. 6009) to require the Director of the Bureau of Land Management to withdraw the proposed rule relating to fluid mineral leases and leasing process, and for other purposes; providing for consideration of the concurrent resolution (H. Con. Res. 86) expressing the sense of Congress that a carbon tax would be detrimental to the U.S. economy; providing for consideration of the resolution (H. Res. 987) denouncing the harmful, anti-American energy policies of the Biden administration, and for other purposes; and providing for consideration of the bill (H.R. 7023) to amend section 404 of the Federal Water Pollution Control Act to codify certain regulatory provisions relating to nationwide permits for dredged or filled material, and for other purposes. By Mr. RESCHENTHALER, H1233 [19MR] Reported (H. Rept. 118–428), H1233 [19MR] Debated, H1247 [20MR] Text, H1247 [20MR] Agreed to in the House, H1254 [20MR] H. Res. 1086 — A resolution expressing support for the designation of March 19, 2024, as ‘‘National Agriculture Day’’ and celebrating the importance of agriculture as one of the most impactful industries in the United States; to the Committee on Agriculture. By Mr. ALFORD (for himself, Mr. Costa, Mr. LaMalfa, Mr. Davis of North Carolina, Mr. Mann, Mrs. Miller of Illinois, Ms. Pingree, Mr. Newhouse, Ms. Budzinski, Mr. Crawford, Mr. Finstad, Mr. Posey, Mrs. Cammack, Mr. Luetkemeyer, Mr. Soto, Mr. Balderson, Mr. Bishop of Georgia, Mrs. Chavez-DeRemer, Mr. Scott Franklin of Florida, Mr. Feenstra, Mr. Thompson of Pennsylvania, Ms. Salinas, Mr. Bacon, Mr. Flood, Mr. Van Orden, Mr. Westerman, Ms. Davids of Kansas, Mr. Kelly of Mississippi, Ms. Perez, Mr. Duarte, Mr. Fitzpatrick, Mr. Langworthy, Mr. Sorensen, Mr. Smith of Missouri, Mr. Johnson of South Dakota, Mr. Webster of Florida, Mr. Ellzey, Mr. Moolenaar, Mr. Bost, Mrs. Miller-Meeks, Mr. Nunn of Iowa, Mr. Curtis, Mr. Kean of New Jersey, Mrs. Hayes, Mr. Lucas, Mr. Austin Scott of Georgia, Mr. Baird, Ms. Craig, Mrs. Fischbach, Mr. Aderholt, Mr. Simpson, Mr. Miller of Ohio, Mr. Huizenga, Mr. Steil, Ms. Caraveo, Mr. Armstrong, Mrs. Hinson, Mr. LaTurner, Mr. Rouzer, Mr. Rose, Mr. Hudson, Mr. Kustoff, Mrs. Houchin, Mr. Steube, Ms. Tokuda, and Mrs. Harshbarger), H1234 [19MR] Cosponsors added, H1355 [21MR], H2319 [11AP] H. Res. 1087 — A resolution expressing the sense of the House of Representatives that any attempt by the President of the Russian Federation Vladimir Putin to remain in office beyond May 7, 2024, shall warrant nonrecognition on the part of the United States; to the Committee on Foreign Affairs. By Mr. COHEN (for himself and Mr. Wilson of South Carolina), H1234 [19MR] Cosponsors added, H2939 [7MY] H. Res. 1088 — A resolution designating ‘‘National Zoroastrian Day’’ on the day of the vernal equinox of each year; to the Committee on Oversight and Accountability. By Mr. CORREA, H1234 [19MR] H. Res. 1089 — A resolution recognizing the seriousness of widespread health care worker burnout in the United States and the need to strengthen health workforce well-being, and expressing support for the designation of March 18, 2024, as the inaugural ‘‘Health Workforce Well-Being Day of Awareness’’; to the Committee on Energy and Commerce. By Mrs. DINGELL (for herself, Ms. Wild, and Mrs. Kiggans of Virginia), H1234 [19MR] H. Res. 1090 — A resolution supporting the designation of the first week of April as ‘‘Adolescent Immunization Action Week’’ and recognizing the importance of encouraging vaccination for adolescents and young adults to protect against serious illness; to the Committee on Energy and Commerce. By Mr. ESPAILLAT (for himself, Mr. Krishnamoorthi, Ms. Norton, and Ms. Barragán), H1234 [19MR] H. Res. 1091 — A resolution recognizing and thanking the Nation’s women’s colleges and universities and recognizing March 5 as ‘‘National Women’s Colleges and Universities Day’’; to the Committee on Education and the Workforce. By Ms. GRANGER (for herself, Ms. DeLauro, and Ms. Balint), H1234 [19MR] H. Res. 1092 — A resolution recognizing the importance of the economic relationship between the United States and Israel and affirming that trade facilitated by the United States-Israel Free Trade Agreement is a tool to support the economy of Israel during the conflict with Hamas; to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HERN (for himself, Mr. Schneider, Mr. Steube, Mr. Murphy, Ms. Tenney, Mr. Panetta, Mr. Ferguson, Mr. Schweikert, Mr. Kustoff, Mrs. Miller of West Virginia, Mr. Kelly of Pennsylvania, Mr. Wenstrup, and Mr. LaHood), H1234 [19MR] H. Res. 1093 — A resolution supporting the goals and ideals of Social Work Month and World Social Work Day; to the Committee on Education and the Workforce. By Ms. LEE of California (for herself, Mr. Tonko, Mr. Bishop of Georgia, Mr. Schiff, Mr. Davis of Illinois, and Ms. Garcia of Texas), H1234 [19MR] H. Res. 1094 — A resolution recognizing the significance of Sjogren’s as a serious and systemic autoimmune disease and designating April as ‘‘Sjogren’s Awareness Month’’; to the Committee on Energy and Commerce. By Mr. MORELLE, H1234 [19MR] H. Res. 1095 — A resolution expressing support for designation of March 2024 as Music in Our Schools Month; to the Committee on Education and the Workforce. By Ms. VELÁZQUEZ (for herself, Mr. Thompson of Pennsylvania, Ms. Norton, Mr. Smith of Washington, Ms. Tokuda, Ms. Bonamici, Mr. Espaillat, Mr. Johnson of Georgia, Mrs. McBath, Ms. Sewell, Mr. Davis of Illinois, Ms. Schakowsky, Ms. Garcia of Texas, and Mr. Kim of New Jersey), H1234 [19MR] H. Res. 1096 — A resolution expressing support for the House of Representatives to work alongside the Congressional Black Caucus to build the Black Wealth Agenda and outline the legislative priorities to achieve the Black Wealth Agenda; to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HORSFORD (for himself, Mrs. McBath, Mr. Neguse, Mr. Clyburn, Mr. Davis of Illinois, Mr. Mfume, Mr. Carter of Louisiana, Ms. Blunt Rochester, Mr. Veasey, Mr. Cleaver, Ms. Crockett, Ms. Clarke of New York, Mr. Payne, Mrs. Foushee, Ms. Plaskett, Ms. Waters, Ms. Kamlager-Dove, Mr. Scott of Virginia, Ms. Bush, Ms. Omar, Ms. Wilson of Florida, Ms. Brown, Mr. Evans, Mr. Frost, Mr. Allred, Mr. Amo, Ms. Pressley, Ms. Lee of Pennsylvania, Mr. Bishop of Georgia, Mrs. Sykes, Mr. David Scott of Georgia, Mr. Torres of New York, Mrs. Hayes, Mr. Davis of North Carolina, Mr. Bowman, and Mr. Carson), H1295 [20MR] H. Res. 1097 — A resolution supporting the designation of March as National CHamoru Heritage and Culture Month; to the Committee on Oversight and Accountability. By Mr. MOYLAN, H1296 [20MR] H. Res. 1098 — A resolution supporting the designation of April 2024 as ‘‘National Native Plant Month’’; to the Committee on Natural Resources. By Mr. NEGUSE (for himself, Mr. Joyce of Ohio, Mr. Case, and Mr. Buck), H1296 [20MR] H. Res. 1099 — A resolution recognizing and commemorating the contributions of contemporary Latinas in the State of Illinois; to the Committee on Oversight and Accountability. By Mrs. RAMIREZ, H1296 [20MR] H. Res. 1100 — A resolution commending and congratulating the 100-year anniversary of Duke University, in Durham, North Carolina; to the Committee on Education and the Workforce. By Mrs. FOUSHEE (for herself, Ms. Adams, Mr. Jackson of North Carolina, Ms. Ross, Mr. Murphy, Mr. Hudson, Mr. Davis of North Carolina, Ms. Manning, Mr. Nickel, Mr. Rouzer, Mr. Bishop of North Carolina, Mr. Levin, and Mr. Peters), H1353 [21MR] H. Res. 1101 — A resolution expressing support for the House of Representatives to work alongside the Congressional Black Caucus to build the Black Wealth Agenda and outline the legislative priorities to achieve the Black Wealth Agenda; to the Committee on Education and the Workforce, and in addition to the Committees on Financial Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HORSFORD (for himself, Mr. Johnson of Georgia, Mr. Ivey, Ms. Lee of California, Ms. Sewell, Mrs. Beatty, Ms. Strickland, Mr. Green of Texas, Mrs. Cherfilus-McCormick, Ms. Adams, Ms. Kelly of Illinois, Ms. Moore of Wisconsin, Ms. Norton, Mr. Thompson of Mississippi, Mr. Jackson of Illinois, Ms. McClellan, Mr. Meeks, Mrs. Watson Coleman, Ms. Underwood, Ms. Williams of Georgia, Ms. Jackson Lee, Mrs. McBath, Mr. Neguse, Mr. Clyburn, Mr. Davis of Illinois, Mr. Mfume, Mr. Carter of Louisiana, Ms. Blunt Rochester, Mr. Veasey, Mr. Cleaver, Ms. Crockett, Ms. Clarke of New York, Mr. Payne, Mrs. Foushee, Ms. Plaskett, Ms. Waters, Ms. Kamlager-Dove, Mr. Scott of Virginia, Ms. Bush, Ms. Omar, Ms. Wilson of Florida, Ms. Brown, Mr. Evans, Mr. Frost, Mr. Allred, Mr. Amo, Ms. Pressley, Ms. Lee of Pennsylvania, Mr. Bishop of Georgia, Mrs. Sykes, Mr. David Scott of Georgia, Mr. Torres of New York, Mrs. Hayes, Mr. Davis of North Carolina, Mr. Bowman, Mr. Carson, and Mr. Jeffries), H1353 [21MR] Cosponsors added, H2254 [9AP] H. Res. 1102 — A resolution providing for the concurrence by the House in the Senate amendment to H.R. 2882, with an amendment. By Ms. GRANGER, H1498 [22MR] Debated, H1365 [22MR] Text, H1365 [22MR] Rules suspended. Agreed to in the House, H1486 [22MR] H. Res. 1103 — A resolution declaring the office of Speaker of the House of Representatives to be vacant; to the Committee on Rules. By Ms. GREENE of Georgia, H1498 [22MR] Cosponsors added, H2445 [16AP], H2560 [19AP] H. Res. 1104 — A resolution recognizing the 203d anniversary of the War of Greek Independence; to the Committee on Foreign Affairs. By Mr. BILIRAKIS (for himself, Mr. Pappas, Mr. Sarbanes, Ms. Malliotakis, Mr. Pallone, Ms. Meng, Mr. Magaziner, Ms. Titus, and Mr. Smith of New Jersey), H1498 [22MR] Cosponsors added, H2131 [29MR] H. Res. 1105 — A resolution designating March 21, 2024, as ‘‘National Women in Agriculture Day’’; to the Committee on Agriculture. By Mrs. CAMMACK (for herself, Ms. Craig, Ms. Pingree, Ms. Budzinski, Mrs. Chavez-DeRemer, Ms. Tokuda, Mr. Sorensen, Ms. Davids of Kansas, Mr. Davis of North Carolina, Mr. Panetta, Mr. Austin Scott of Georgia, Mr. Costa, Mr. Bishop of Georgia, Ms. Adams, and Ms. Salinas), H1498 [22MR] H. Res. 1106 — A resolution expressing support for the designation of the week of March 24, 2024, through March 30, 2024, as ‘‘National Cleaning Week’’; to the Committee on Energy and Commerce. By Mr. LaHOOD (for himself and Mr. Krishnamoorthi), H1498 [22MR] H. Res. 1107 — A resolution expressing the sense of Congress that Israel must be in full support of any negotiation or agreement relating to the Israeli-Hamas conflict, including a two-state solution or similar long-term plan relating to Israel and Palestinians for it to move forward; to the Committee on Foreign Affairs. By Mr. D’ESPOSITO, H2120 [26MR] Cosponsors added, H2131 [29MR], H2445 [16AP] H. Res. 1108 — A resolution expressing the sense of the House of Representatives in support of science diplomacy, and for other purposes; to the Committee on Foreign Affairs. By Mr. FOSTER, H2120 [26MR] H. Res. 1109 — A resolution recognizing the historic Woman Suffrage Procession of 1913 and honoring the courageous suffragists who fought tirelessly for women’s right to vote; to the Committee on the Judiciary. By Ms. WILLIAMS of Georgia (for herself, Mrs. Chavez-DeRemer, Mrs. Beatty, Ms. Norton, Ms. Lois Frankel of Florida, Mr. Kim of New Jersey, Mr. Neguse, Mrs. Watson Coleman, Mr. Vicente Gonzalez of Texas, Mrs. Napolitano, Mr. Carter of Louisiana, Mrs. McBath, Ms. Crockett, Ms. Budzinski, Ms. Salinas, Ms. Moore of Wisconsin, Mr. Mullin, Mr. Deluzio, Mr. Goldman of New York, Ms. Lee of California, Ms. Lee of Pennsylvania, Ms. Sewell, Ms. Jacobs, Mr. Connolly, Ms. Titus, Mr. Davis of Illinois, Ms. Barragán, Mr. Carson, Ms. Brown, Mr. Grijalva, Mr. Soto, Ms. Wasserman Schultz, Ms. Jackson Lee, Ms. Brownley, Ms. Stansbury, Ms. Ocasio-Cortez, Mr. Carbajal, Mr. Allred, Mrs. Dingell, Ms. Craig, Mr. Krishnamoorthi, Mr. Jackson of Illinois, Ms. Garcia of Texas, Ms. Clarke of New York, Ms. Kaptur, Ms. Schakowsky, Mrs. Foushee, Mrs. Kiggans of Virginia, Mr. Peters, Ms. Scholten, Ms. Adams, Ms. Blunt Rochester, Mr. Espaillat, and Mr. Gottheimer), H2120 [26MR] Cosponsors added, H2131 [29MR], H2143 [5AP], H2254 [9AP], H3682 [7JN] H. Res. 1110 — A resolution supporting the goals and ideals of National Women’s History Month; to the Committee on Oversight and Accountability. By Mr. THOMPSON of California (for himself, Ms. Lois Frankel of Florida, Ms. Moore of Wisconsin, Mrs. Watson Coleman, Ms. Schakowsky, Ms. Norton, Mr. Davis of Illinois, Mr. Carson, Ms. Brownley, Mr. Grijalva, Mrs. Beatty, Ms. Clarke of New York, Ms. Wild, Mr. Costa, Mr. Payne, Ms. Castor of Florida, Mr. Mullin, Ms. Budzinski, Mr. Carter of Louisiana, Mr. Casten, Ms. Tlaib, Mrs. Sykes, Mr. Soto, Ms. Blunt Rochester, Ms. Salinas, Ms. Velázquez, Ms. Pettersen, Mr. Swalwell, Ms. Williams of Georgia, Ms. Sewell, Ms. Escobar, Mrs. Hayes, Mr. Takano, Ms. Lofgren, Ms. DeGette, Ms. Stansbury, Mr. Espaillat, Mrs. Trahan, Mrs. Cherfilus-McCormick, Ms. Barragán, Ms. Matsui, Ms. Titus, Mrs. Dingell, Ms. McClellan, Ms. Tokuda, Ms. Ross, Ms. Brown, Ms. Lee of Nevada, Ms. Hoyle of Oregon, Mr. Peters, Ms. Leger Fernandez, Ms. Porter, Mr. Amo, and Mr. Cárdenas), H2129 [29MR] Cosponsors added, H2143 [5AP] H. Res. 1111 — A resolution recognizing the importance and contributions of neurodivergent people to the United States; to the Committee on Energy and Commerce. By Mr. ROBERT GARCIA of California, H2135 [2AP] H. Res. 1112 — A resolution denouncing the Biden administration’s immigration policies; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. TONY GONZALES of Texas, H2141 [5AP] Providing for consideration (H. Res. 1125), H2288 [10AP] Providing for consideration (H. Res. 1137), H2366 [12AP] Debated, H2784 [1MY] Text, H2784 [1MY] Agreed to in the House, H2816 [1MY] H. Res. 1113 — A resolution expressing support for the designation of April 4, 2024, as the International Day for Mine Awareness and Assistance in Mine Action, and reaffirming the leadership of the United States in eliminating landmines and unexploded ordnance; to the Committee on Foreign Affairs. By Mr. BERA, H2141 [5AP] H. Res. 1114 — A resolution denouncing the rise of Islamophobia and antisemitism across the country; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOTTHEIMER, H2141 [5AP] Cosponsors added, H2636 [26AP] H. Res. 1115 — A resolution providing for the consideration of the resolution (H. Res. 967) amending the Rules of the House of Representatives to permit Members to vote by proxy in certain cases, and for other purposes; to the Committee on Rules. By Mrs. LUNA, H2141 [5AP] H. Res. 1116 — A resolution expressing the sense of the House of Representatives that the Federal Government should recoup monies from the Synergy Marine Group and Maersk Line Limited to compensate taxpayers for certain damages resulting from the allision of the cargo shipping vessel the Dali with the Francis Scott Key Bridge on March 26, 2024, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. VAN DREW, H2141 [5AP] H. Res. 1117 — A resolution opposing efforts to place one-sided pressure on Israel with respect to Gaza; to the Committee on Foreign Affairs. By Ms. SALAZAR (for herself, Mrs. Cammack, Mrs. Kiggans of Virginia, Mrs. Miller of West Virginia, Mr. Langworthy, Mr. Womack, Mr. Reschenthaler, Mr. Self, Mr. Tony Gonzales of Texas, Mr. Aderholt, Ms. Tenney, Mr. Williams of New York, Mr. Nunn of Iowa, Mr. Tiffany, Ms. Van Duyne, Mr. Lawler, Mr. Zinke, Mr. Mast, Mr. Moolenaar, Mr. Smith of Missouri, Mr. Baird, Mr. Lamborn, Mr. Armstrong, Mr. D’Esposito, Mrs. Hinson, and Ms. Stefanik), H2251 [9AP] Cosponsors added, H2291 [10AP], H2319 [11AP], H2503 [17AP] Providing for consideration (H. Res. 1125), H2288 [10AP] Providing for consideration (H. Res. 1137), H2366 [12AP] H. Res. 1118 — A resolution recognizing the importance of the United States-Japan alliance and welcoming the visit of Prime Minister Kishida Fumio to the United States; to the Committee on Foreign Affairs. By Mr. MEEKS (for himself, Mr. McCaul, Mr. Bera, and Mrs. Kim of California), H2251 [9AP] Cosponsors added, H2291 [10AP], H2319 [11AP], H2368 [12AP], H2445 [16AP], H2503 [17AP] H. Res. 1119 — A resolution providing for consideration of the bill (H.R. 6929) to appropriate funds for the Affordable Connectivity Program of the Federal Communications Commission; to the Committee on Rules. By Ms. CLARKE of New York, H2251 [9AP] H. Res. 1120 — A resolution condemning Joanne Chesimard and those who celebrate her and her actions, and honoring the law enforcement members killed by her and groups she was connected to; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. D’ESPOSITO, H2251 [9AP] H. Res. 1121 — A resolution recognizing the 158th anniversary of the Civil Rights Act of 1866; to the Committee on the Judiciary. By Mr. JACKSON of Illinois (for himself, Ms. Norton, Mr. Espaillat, Mrs. Dingell, Mr. Thanedar, Mr. Davis of Illinois, Mr. Grijalva, Mrs. Cherfilus-McCormick, Ms. Tlaib, and Ms. Plaskett), H2251 [9AP] Cosponsors added, H2291 [10AP], H2319 [11AP], H2623 [20AP], H3275 [15MY], H3358 [17MY], H3486 [22MY], H4110 [14JN] H. Res. 1122 — A resolution honoring the life and legacy of General Thomas P. Stafford; to the Committee on Armed Services. By Mr. LUCAS (for himself, Mr. Hern, Mr. Brecheen, Mr. Cole, and Mrs. Bice), H2251 [9AP] H. Res. 1123 — A resolution condemning Mexican President Andres Manuel Lopez Obrador’s March 24, 2024, comments on ‘‘60 Minutes’’ and calling on the Mexican Government to limit illegal immigration, and for other purposes; to the Committee on Foreign Affairs. By Mr. NEHLS (for himself, Mr. Ellzey, and Mr. Tiffany), H2251 [9AP] Cosponsors added, H2291 [10AP] H. Res. 1124 — A resolution expressing support for the designation of the last Tuesday of April each year as ‘‘APOL1-Mediated Kidney Disease (AMKD) Awareness Day’’; to the Committee on Energy and Commerce. By Ms. PLASKETT (for herself, Ms. Sewell, Ms. Adams, Ms. DelBene, Mrs. Cherfilus-McCormick, Ms. Clarke of New York, Ms. Wild, and Mr. Davis of Illinois), H2251 [9AP] Cosponsors added, H2523 [18AP], H3543 [31MY] H. Res. 1125 — A resolution providing for consideration of the bill (H.R. 7888) to reform the Foreign Intelligence Surveillance Act of 1978; providing for consideration of the bill (H.R. 529) to extend the customs waters of the U.S., consistent with Presidential proclamation 7219; providing for consideration of the resolution (H. Res. 1112) denouncing the Biden administration’s immigration policies; and providing for consideration of the resolution (H. Res. 1117) opposing efforts to place one-sided pressure on Israel with respect to Gaza. By Mr. ROY, H2288 [10AP] Reported (H. Rept. 118–450), H2288 [10AP] Debated, H2265 [10AP] Text, H2265 [10AP] Amendments, H2272 [10AP] Failed of passage, H2272 [10AP] H. Res. 1126 — A resolution authorizing video recording in the House Chamber during a joint meeting of Congress for certain educational purposes; to the Committee on House Administration. By Mr. JOHNSON of Louisiana, H2289 [10AP] Committee discharged. Agreed to in the House, H2274 [10AP] Text, H2274 [10AP] H. Res. 1127 — A resolution reaffirming the United States commitment to Taiwan and recognizing the 45th anniversary of the enactment of the Taiwan Relations Act; to the Committee on Foreign Affairs. By Mr. BERA (for himself, Mr. Diaz-Balart, Mr. Connolly, Mr. Barr, Mr. Meeks, Mrs. Kim of California, Mr. Krishnamoorthi, Mr. Tiffany, Mr. Fleischmann, Ms. Wilson of Florida, Ms. Malliotakis, Ms. Wasserman Schultz, Mr. Sherman, Mr. Bishop of Georgia, Mr. Ellzey, Mr. Mooney, Mr. Gimenez, Mr. Moulton, Mr. Lieu, Mr. Amo, Mrs. Radewagen, Mr. Carter of Georgia, Mr. Schiff, Mr. Quigley, Mr. Sessions, Mrs. Cherfilus-McCormick, Mr. Allred, Mr. Gottheimer, Mr. Morelle, Mr. Ciscomani, Ms. Chu, Mr. Swalwell, Ms. Tokuda, Mr. LaTurner, Mrs. Kiggans of Virginia, Ms. Titus, Mrs. Cammack, Mr. Womack, Mr. Peters, Mr. Fitzpatrick, Ms. Houlahan, Mr. Reschenthaler, Mr. Mast, Mr. Crenshaw, Mrs. Lesko, Mrs. Napolitano, Ms. Adams, Mrs. Miller-Meeks, Ms. Salazar, Mr. Bacon, Ms. Tenney, Mr. Pappas, Mr. Wilson of South Carolina, Mr. Molinaro, Mr. Gooden of Texas, Ms. Porter, Mr. Moran, Mr. Moskowitz, Mr. Espaillat, Mr. Kean of New Jersey, Mr. Guthrie, Mr. Costa, Mr. Lawler, Ms. Stevens, Mr. Stanton, Mr. Menendez, and Mr. Gomez), H2289 [10AP] Cosponsors added, H3583 [3JN] H. Res. 1128 — A resolution recognizing the Muslim holy month of Ramadan, commending a month of fasting and spiritual renewal, and extending best wishes to Muslims in the United States and across the globe for a joyous and meaningful observance of Eid al-Fitr; to the Committee on Foreign Affairs. By Mrs. DINGELL (for herself, Ms. Tlaib, Mr. Carson, Mr. Grijalva, Mr. Cárdenas, Ms. Omar, and Ms. Schakowsky), H2290 [10AP] H. Res. 1129 — A resolution supporting May 3 as ‘‘National Space Day’’ in recognition of the significant positive impact the aerospace community has and will continue to have on the United States of America; to the Committee on Science, Space, and Technology, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. LIEU (for himself and Mr. Calvert), H2290 [10AP] H. Res. 1130 — A resolution supporting the designation of April 2024 as the ‘‘Month of the Military Child’’; to the Committee on Oversight and Accountability. By Mrs. RODGERS of Washington (for herself and Mr. Bishop of Georgia), H2290 [10AP] H. Res. 1131 — A resolution celebrating Hindu Americans, and condemning attacks on Hindu places of worship, Hinduphobia, and anti-Hindu bigotry, and for other purposes; to the Committee on Oversight and Accountability. By Mr. THANEDAR, H2290 [10AP] Cosponsors added, H2876 [6MY], H3206 [14MY], H3275 [15MY], H3486 [22MY], H3526 [23MY], H3657 [4JN] H. Res. 1132 — A resolution condemning Republican inaction to address comprehensive immigration reform and border security; to the Committee on the Judiciary. By Mr. VASQUEZ (for himself, Mr. Ryan, Ms. Spanberger, Ms. Budzinski, Mr. Horsford, and Ms. Salinas), H2290 [10AP] H. Res. 1133 — A resolution electing Members to certain standing committees of the House of Representatives. By Ms. STEFANIK, H2317 [11AP] Agreed to in the House, H2294 [11AP] Text, H2294 [11AP] H. Res. 1134 — A resolution expressing support for the designation of April 11, 2024, as ‘‘Remanufacturing Day’’; to the Committee on Oversight and Accountability. By Ms. STEVENS, H2317 [11AP] H. Res. 1135 — A resolution supporting the goals and ideals of the Rise Up for LGBTQI+ Youth in Schools Initiative, a call to action to communities across the country to demand equal educational opportunity, basic civil rights protections, and freedom from erasure for all students, particularly LGBTQI+ young people, in K-12 schools; to the Committee on Education and the Workforce. By Mr. TAKANO (for himself, Ms. Balint, Ms. Bonamici, Mr. Davis of Illinois, Ms. Garcia of Texas, Mr. Gottheimer, Ms. McCollum, Mr. McGovern, Mr. Moulton, Mr. Nadler, Ms. Norton, Mr. Pocan, Ms. Salinas, Ms. Sánchez, Ms. Tlaib, Mr. Torres of New York, Mrs. Watson Coleman, and Ms. Williams of Georgia), H2317 [11AP] Cosponsors added, H2368 [12AP] H. Res. 1136 — A resolution expressing support for designation of the month of April 2024 as ‘‘Parkinson’s Awareness Month’’; to the Committee on Energy and Commerce. By Ms. WEXTON (for herself, Mrs. Kiggans of Virginia, Mr. Bilirakis, Mr. Johnson of Georgia, Mr. Tonko, Mrs. Dingell, Ms. Norton, Mr. Cleaver, Ms. Wild, Mr. Fitzpatrick, Mr. Thompson of Mississippi, Ms. Barragán, Ms. McClellan, Ms. Stevens, Mr. Beyer, Mr. Trone, Mr. Bacon, and Mr. Lawler), H2317 [11AP] Cosponsors added, H2399 [15AP], H2445 [16AP], H2636 [26AP], H2939 [7MY] H. Res. 1137 — A resolution providing for consideration of the bill (H.R. 7888) to reform the Foreign Intelligence Surveillance Act of 1978; providing for consideration of the bill (H.R. 529) to extend the customs waters of the U.S., consistent with Presidential proclamation 7219; providing for consideration of the resolution (H. Res. 1112) denouncing the Biden administration’s immigration policies; and providing for consideration of the resolution (H. Res. 1117) opposing efforts to place one-sided pressure on Israel with respect to Gaza. By Mr. MASSIE, H2366 [12AP] Reported (H. Rept. 118–456), H2366 [12AP] Debated, H2321 [12AP] Text, H2322 [12AP] Agreed to in the House, H2328 [12AP] H. Res. 1138 — A resolution amending the Rules of the House of Representatives to deny certain privileges of the House of Representatives to former Members who have been expelled from the House, and for other purposes; to the Committee on Rules. By Mr. D’ESPOSITO (for himself, Mr. LaLota, and Mr. Lawler), H2367 [12AP] H. Res. 1139 — A resolution acknowledging April 17, 2024, as the 500th anniversary of the discovery of New York Bay by Giovanni da Verrazzano; to the Committee on Oversight and Accountability. By Ms. MALLIOTAKIS (for herself, Mr. Meeks, Ms. Stefanik, Mr. Lawler, Ms. Clarke of New York, Mr. Van Drew, Mr. Molinaro, Ms. Meng, Ms. Tenney, Mr. Langworthy, Mr. Garbarino, Mr. Smith of New Jersey, Mr. Williams of New York, Mr. D’Esposito, Mr. LaLota, Mr. Goldman of New York, Mr. Pascrell, Mr. Suozzi, Mr. Pallone, and Mr. Panetta), H2367 [12AP] H. Res. 1140 — A resolution recognizing the exemplary service of General Mark Milley, United States Army, 20th Chairman of the Joint Chiefs of Staff, and his wife, Hollyanne Milley, a registered nurse of 36 years and military community leader; to the Committee on Armed Services. By Mr. PHILLIPS (for himself and Mr. Crow), H2367 [12AP] H. Res. 1141 — A resolution expressing the sense of the House of Representatives that the Federal Government should recoup monies from the responsible parties to compensate taxpayers for certain damages resulting from the allision of the cargo shipping vessel the Dali with the Francis Scott Key Bridge on March 26, 2024, and for other purposes; to the Committee on Transportation and Infrastructure. By Mr. VAN DREW, H2367 [12AP] H. Res. 1142 — A resolution recognizing the Tenth Anniversary of the Chibok Girls Kidnapping by the Boko Haram Terrorist Organization and calling on the Government of Nigeria to redouble efforts to bring an end to the conflict in northeast and central Nigeria and to provide assistance to the victims; to the Committee on Foreign Affairs. By Ms. WILSON of Florida (for herself, Mr. Clyburn, Ms. Jackson Lee, Mrs. Beatty, Ms. Adams, Mr. Davis of Illinois, Ms. Norton, Mr. Jackson of Illinois, Mr. Johnson of Georgia, Ms. Kelly of Illinois, Ms. Sewell, Mr. Soto, Ms. Wasserman Schultz, Ms. Brownley, Mr. Cohen, Mr. McGovern, Mr. Morelle, and Ms. Schakowsky), H2367 [12AP] H. Res. 1143 — A resolution condemning Iran’s unprecedented drone and missile attack on Israel; to the Committee on Foreign Affairs. By Mr. KEAN of New Jersey (for himself, Mr. Moskowitz, Mr. McCaul, Mr. Lieu, Mr. Murphy, Mr. Williams of New York, Mrs. Kiggans of Virginia, Mr. Fitzpatrick, Mr. Armstrong, Mr. Calvert, Mrs. Lesko, Ms. Salazar, Mr. Aderholt, Mrs. Miller of West Virginia, Mr. Womack, Mrs. González-Colón, Mr. Meuser, Mr. Feenstra, Mr. Ezell, Mrs. Houchin, Mr. Tony Gonzales of Texas, Mr. Burgess, Mr. Ciscomani, Mr. Moran, Mr. Moolenaar, Mr. Nunn of Iowa, Mr. Van Drew, Ms. Tenney, Mr. Buchanan, Mr. Fallon, Mr. Reschenthaler, Mr. Langworthy, Mr. Molinaro, Mr. Kustoff, Mr. Baird, Mr. McCormick, Mr. Loudermilk, Mr. Graves of Missouri, Mr. Crenshaw, Mr. Self, Mr. Smith of Nebraska, Mr. D’Esposito, and Mr. Sessions), H2397 [15AP] Cosponsors added, H2445 [16AP] Providing for consideration (H. Res. 1149), H2443 [16AP] Text, H2507 [18AP] Agreed to in the House, H2510 [18AP] H. Res. 1144 — A resolution honoring the 100th anniversary of the Consumer Technology Association; to the Committee on Energy and Commerce. By Mr. ISSA, H2397 [15AP] H. Res. 1145 — A resolution recognizing the significance of ‘‘Community College Month’’ in April as a celebration of more than 1,000 institutions throughout the United States supporting access to higher education, workforce training, and more broadly sustaining and advancing the Nation’s economic prosperity; to the Committee on Oversight and Accountability. By Mr. COURTNEY (for himself, Mr. Bilirakis, Mr. Ciscomani, Ms. Norton, Mr. Davis of Illinois, Mr. Trone, Mr. Payne, Ms. Leger Fernandez, Mrs. McBath, Ms. Pressley, Ms. Brownley, Mr. Davis of North Carolina, Ms. Stansbury, Ms. Davids of Kansas, Mr. Magaziner, Mr. Garamendi, and Mr. Costa), H2397 [15AP] Cosponsors added, H3000 [8MY] H. Res. 1146 — A resolution recognizing the enduring cultural and historical significance of emancipation in the Nation’s capital on the anniversary of President Abraham Lincoln’s signing of the District of Columbia Compensated Emancipation Act, which established the ‘‘first freed’’ on April 16, 1862, and celebrating passage of the District of Columbia statehood bill in the House of Representatives; to the Committee on Oversight and Accountability. By Ms. NORTON, H2397 [15AP] H. Res. 1147 — A resolution demanding that the international community hold accountable those who perpetrated acts of sexual violence and sexual torture during and after the attack on the State of Israel on October 7, 2023; to the Committee on Foreign Affairs. By Ms. WASSERMAN SCHULTZ (for herself, Mrs. Miller-Meeks, Ms. Lois Frankel of Florida, and Mrs. Kiggans of Virginia), H2397 [15AP] H. Res. 1148 — A resolution condemning the Iranian regime’s terrorism, regional proxy war, internal suppression, and for other purposes; to the Committee on Foreign Affairs. By Mr. WEBER of Texas (for himself, Ms. Adams, Mr. Allen, Mr. Amodei, Mr. Babin, Mr. Bacon, Mr. Baird, Mr. Balderson, Mr. Banks, Mr. Bean of Florida, Mr. Bera, Mr. Bergman, Mr. Bilirakis, Mr. Bishop of Georgia, Mr. Bost, Mr. Bucshon, Mr. Burchett, Mr. Burgess, Mr. Calvert, Mrs. Cammack, Mr. Cárdenas, Mr. Carter of Georgia, Mr. Carter of Louisiana, Mrs. Chavez-DeRemer, Mr. Ciscomani, Ms. Clarke of New York, Mr. Cline, Mr. Clyde, Mr. Cohen, Mr. Costa, Ms. Craig, Mr. Crenshaw, Mr. Davis of Illinois, Ms. De La Cruz, Mr. DesJarlais, Mr. D’Esposito, Mr. Duarte, Mr. Duncan, Mr. Dunn of Florida, Mr. Edwards, Mr. Ellzey, Mr. Ezell, Mr. Fallon, Mr. Feenstra, Mr. Ferguson, Mr. Finstad, Mr. Fitzpatrick, Mr. Fleischmann, Mr. Flood, Mr. Scott Franklin of Florida, Mr. Fulcher, Mr. Gallego, Mr. Mike Garcia of California, Mr. Gimenez, Mr. Tony Gonzales of Texas, Mr. Vicente Gonzalez of Texas, Mrs. González-Colón, Mr. Gooden of Texas, Mr. Gosar, Mr. Gottheimer, Ms. Granger, Mr. Green of Tennessee, Mr. Grothman, Mr. Guest, Mr. Harris, Mr. Higgins of Louisiana, Mrs. Hinson, Mr. Hunt, Mr. Issa, Mr. Jackson of Texas, Ms. Jackson Lee, Mr. Joyce of Pennsylvania, Mr. Kelly of Mississippi, Mrs. Kiggans of Virginia, Mr. LaLota, Mr. LaMalfa, Mr. Lamborn, Mr. Langworthy, Mr. Lawler, Mrs. Lesko, Ms. Lofgren, Mr. Loudermilk, Mr. Luetkemeyer, Mr. Luttrell, Ms. Mace, Ms. Malliotakis, Mr. Mast, Mrs. McBath, Mrs. McClain, Mr. McClintock, Mr. McCormick, Mr. Meuser, Mrs. Miller of West Virginia, Mrs. Miller of Illinois, Mr. Miller of Ohio, Mrs. Miller-Meeks, Mr. Molinaro, Mr. Moolenaar, Mr. Mooney, Mr. Moore of Alabama, Mr. Moylan, Mr. Nehls, Mr. Newhouse, Mr. Nunn of Iowa, Mr. Ogles, Mr. Owens, Mr. Palmer, Mr. Panetta, Mr. Pappas, Mr. Payne, Ms. Ross, Mr. Ruiz, Mr. Rutherford, Mr. Austin Scott of Georgia, Mr. Self, Mr. Sessions, Mr. Sherman, Mr. Smith of Nebraska, Ms. Spanberger, Mrs. Spartz, Mr. Stauber, Ms. Stefanik, Mr. Steube, Mr. Thompson of Pennsylvania, Mr. Tiffany, Mr. Timmons, Mr. Turner, Mr. Valadao, Mr. Van Drew, Ms. Van Duyne, Mr. Van Orden, Mr. Vargas, Mr. Veasey, Mr. Walberg, Mr. Webster of Florida, Mr. Westerman, Ms. Wexton, Mr. Williams of New York, Mr. Williams of Texas, Mr. Wilson of South Carolina, Mr. Garamendi, Mr. Pfluger, and Mr. Johnson of South Dakota), H2397 [15AP] Cosponsors added, H2445 [16AP], H2636 [26AP], H2939 [7MY], H3000 [8MY], H3007 [10MY], H3358 [17MY], H3400 [21MY], H3531 [24MY], H3728 [11JN], H3976 [12JN], H4064 [13JN], H4110 [14JN], H4116 [18JN] H. Res. 1149 — A resolution providing for consideration of the bill (H.R. 6323) to modify the availability of certain waiver authorities with respect to sanctions imposed with respect to the financial sector of Iran, and for other purposes; providing for consideration of the resolution (H. Res. 1143) condemning Iran’s unprecedented drone and missile attack on Israel; providing for consideration of the bill (H.R. 4691) to provide for congressional review of actions to terminate or waive sanctions imposed with respect to Iran; providing for consideration of the bill (H.R. 5947) to provide for the rescission of certain waivers and licenses relating to Iran, and for other purposes; providing for consideration of the bill (H.R. 6046) to designate Ansarallah as a foreign terrorist organization and impose certain sanctions on Ansarallah, and for other purposes; and providing for consideration of the bill (H.R. 4639) to amend section 2702 of title 18, United States Code, to prevent law enforcement and intelligence agencies from obtaining subscriber or customer records in exchange for anything of value, to address communications and records in the possession of intemediary internet service providers, and for other purposes. By Mr. RESCHENTHALER, H2443 [16AP] Reported (H. Rept. 118–464), H2443 [16AP] Debated, H2406 [16AP] Text, H2406 [16AP] Agreed to in the House, H2415 [16AP] H. Res. 1150 — A resolution expressing support for the designation of April 16, 2024, as ‘‘FairTax Day’’; to the Committee on Oversight and Accountability. By Mr. CARTER of Georgia (for himself and Mr. Clyde), H2444 [16AP] H. Res. 1151 — A resolution recognizing the Interstate Compact on Educational Opportunity for Military Children and expressing support for the designation of April 2024 as the ‘‘Month of the Military Child’’; to the Committee on Armed Services. By Mr. COURTNEY (for himself, Ms. Blunt Rochester, Mr. Kim of New Jersey, Mr. Lamborn, Mr. Austin Scott of Georgia, Ms. Escobar, Mr. Moylan, Mr. Deluzio, Mr. Kelly of Mississippi, Mr. Gottheimer, Mr. Turner, Mr. Ryan, Mr. Case, Mr. Gimenez, Mr. Davis of North Carolina, Ms. Strickland, Ms. Lee of Nevada, Mr. Carbajal, Ms. Houlahan, Mr. Horsford, Ms. Chu, and Ms. Jacobs), H2444 [16AP] H. Res. 1152 — A resolution commemorating the 25th anniversary of the Columbine High School shooting and honoring the memories of the victims, survivors, and their families; to the Committee on Education and the Workforce. By Mr. CROW (for himself, Ms. DeGette, Mr. Neguse, Ms. Caraveo, Ms. Pettersen, Ms. Moore of Wisconsin, Ms. Norton, Ms. Stevens, Ms. Jackson Lee, Ms. Williams of Georgia, Mr. Nickel, Mr. Moulton, Ms. Brown, Mrs. Torres of California, Mr. Auchincloss, Ms. Brownley, Mr. Peters, Ms. McCollum, Mr. Carson, Ms. McClellan, Ms. Porter, Ms. Jacobs, Mr. Menendez, Mr. Moskowitz, and Mrs. Foushee), H2444 [16AP] Cosponsors added, H2503 [17AP], H2523 [18AP] H. Res. 1153 — A resolution recognizing the designation of the week of April 11 through April 17, 2024, as the seventh annual ‘‘Black Maternal Health Week’’; to the Committee on Energy and Commerce. By Ms. ADAMS (for herself, Ms. Underwood, Ms. Kelly of Illinois, Mr. Horsford, Ms. Lee of California, Ms. Clarke of New York, Mr. Hoyer, Mr. Bishop of Georgia, Mr. Torres of New York, Mrs. Watson Coleman, Mr. Tonko, Mr. Johnson of Georgia, Mr. Thanedar, Ms. Scanlon, Mr. Allred, Ms. Lee of Pennsylvania, Ms. McClellan, Ms. Blunt Rochester, Mr. Krishnamoorthi, Mr. Cohen, Mrs. Ramirez, Mr. Kim of New Jersey, Mr. Morelle, Mr. Carson, Ms. Slotkin, Ms. Williams of Georgia, Mr. McGarvey, Mr. Gomez, Ms. Wasserman Schultz, Ms. Omar, Ms. Pressley, Mr. Veasey, Mrs. Hayes, Mrs. Torres of California, Mrs. Beatty, Ms. Garcia of Texas, Ms. Moore of Wisconsin, and Mr. Payne), H2502 [17AP] Cosponsors added, H2560 [19AP], H2636 [26AP], H2702 [29AP] H. Res. 1154 — A resolution supporting the goals and ideals of ‘‘Financial Literacy Month’’; to the Committee on Oversight and Accountability. By Mrs. BEATTY (for herself, Mrs. Kim of California, Mr. Barr, Mr. Carson, Mr. Casten, Mr. Cleaver, Mr. Donalds, Mr. Fitzpatrick, Ms. Garcia of Texas, Mr. Gottheimer, Mr. Hill, Mr. Horsford, Mr. Lynch, Mr. McGovern, Mr. Meeks, Mr. Nickel, Mr. David Scott of Georgia, Mr. Valadao, Mrs. Watson Coleman, and Ms. Williams of Georgia), H2502 [17AP] H. Res. 1155 — A resolution expressing support for the recognition of April as ‘‘National Arab American Heritage Month’’ (NAAHM) and celebrating the heritage and culture of Arab Americans in the United States; to the Committee on Oversight and Accountability. By Ms. TLAIB (for herself, Mrs. Dingell, Ms. Schakowsky, Mrs. Ramirez, Mr. Carson, Mr. McGovern, and Mrs. Watson Coleman), H2502 [17AP] H. Res. 1156 — A resolution expressing support for the designation of April 17, 2025, as ‘‘Cambodian Genocide Remembrance Day’’ to remember the horrific slaughter of almost 2,000,000 Cambodian people at the hand of the Khmer Rouge regime; to the Committee on Foreign Affairs. By Mrs. TRAHAN (for herself, Mr. Robert Garcia of California, and Mr. Smith of New Jersey), H2502 [17AP] H. Res. 1157 — A resolution recognizing linemen, the profession of linemen, the contributions of these brave men and women who protect public safety, and expressing support for the designation of April 18, 2024, as ‘‘National Lineman Appreciation Day’’; to the Committee on Energy and Commerce. By Mr. ROUZER (for himself, Mr. Flood, Ms. Perez, Mr. Fitzpatrick, Mr. Kean of New Jersey, Mrs. Cammack, Mr. Graves of Missouri, Ms. Ross, Mr. Austin Scott of Georgia, Mr. Fleischmann, Ms. Adams, Mrs. Miller of West Virginia, Mr. Hudson, Mr. Babin, Mrs. Chavez-DeRemer, Mr. Veasey, Ms. Wild, Mr. Dunn of Florida, Mr. Norman, Mr. Smith of New Jersey, Ms. Tokuda, Mr. Donalds, Ms. Wilson of Florida, Mr. LaMalfa, Mr. Nickel, Mr. McGarvey, and Mr. Boyle of Pennsylvania), H2521 [18AP] Cosponsors added, H2629 [23AP], H2702 [29AP] H. Res. 1158 — A resolution recognizing the anniversary of the establishment of the United States Naval Construction Force, known as the ‘‘Seabees’’, and the tremendous sacrifices and contributions by the Seabees who have fought and served on behalf of our country; to the Committee on Armed Services. By Mr. EZELL (for himself, Ms. Brownley, Mr. Guest, Mr. Kelly of Mississippi, Mr. LaLota, Mr. Gimenez, Ms. Tokuda, Mr. Carbajal, Ms. Lee of California, Mr. Takano, Mr. Amo, Mr. Rutherford, Mr. Schiff, Mr. Magaziner, and Mr. Thompson of Mississippi), H2521 [18AP] Cosponsors added, H2836 [2MY], H3486 [22MY] H. Res. 1159 — A resolution recognizing the longstanding partnership between USDA and NASA and encouraging further interagency collaboration; to the Committee on Science, Space, and Technology, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SORENSEN (for himself and Mr. Lucas), H2521 [18AP] Cosponsors added, H3206 [14MY] H. Res. 1160 — A resolution providing for consideration of the bill (H.R. 8034) making emergency supplemental appropriations to respond to the situation in Israel and for related expenses for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 8035) making emergency supplemental appropriations to respond to the situation in Ukraine and for related expenses for the fiscal year ending September 30, 2024, and for other purposes; providing for consideration of the bill (H.R. 8036) making emergency supplemental appropriations for assistance for the Indo-Pacific region and for related expenses for the fiscal year ending September 30, 2024, and other purposes; providing for consideration of the bill (H.R. 8038) to authorize the President to impose certain sanctions with respect to Russia and Iran, and for other purposes; and providing for the concurrence by the House in the Senate amendment to H.R. 815. By Mr. BURGESS, H2557 [19AP] Reported with amendment (H. Rept. 118–466), H2557 [19AP] Debated, H2526 [19AP] Text, H2526 [19AP] Agreed to in the House, H2532 [19AP] H. Res. 1161 — A resolution commemorating innocent civilian lives lost in Gaza, especially children; to the Committee on Foreign Affairs. By Mr. GREEN of Texas, H2558 [19AP] H. Res. 1162 — A resolution expressing support for the designation of April 2024 as ‘‘Second Chance Month’’; to the Committee on the Judiciary. By Mr. CARDENAS (for himself, Mr. Trone, Mr. Westerman, and Mr. Bacon), H2558 [19AP] H. Res. 1163 — A resolution recognizing the cultural and educational contributions of the Youth America Grand Prix throughout its 25 years of service as the national youth dance competition of the United States; to the Committee on Education and the Workforce. By Mr. NADLER, H2558 [19AP] H. Res. 1164 — A resolution acknowledging the particular threat climate change poses to a secure and sustainable future for all children and the important stake children have in a healthy planet; to the Committee on Foreign Affairs, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. KAMLAGER-DOVE (for herself, Ms. Titus, Mrs. Watson Coleman, and Mr. Evans), H2623 [20AP] H. Res. 1165 — A resolution expressing support for the designation of April as ‘‘Co-Occurring Disorders Awareness Month’’; to the Committee on Energy and Commerce. By Mr. LaLOTA, H2623 [20AP] H. Res. 1166 — A resolution expressing support for honoring Earth Day, and for other purposes; to the Committee on Energy and Commerce, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MATSUI (for herself, Mr. Neguse, Ms. McClellan, Mr. Cohen, Ms. Barragán, Mr. Blumenauer, Ms. Bonamici, Ms. Brownley, Mr. Casten, Ms. Chu, Ms. Clarke of New York, Mr. Connolly, Mr. Davis of Illinois, Ms. DeGette, Ms. DelBene, Mr. Deluzio, Mr. DeSaulnier, Ms. Eshoo, Mr. Espaillat, Mrs. Foushee, Mr. Gomez, Mrs. Hayes, Mr. Huffman, Ms. Kamlager-Dove, Ms. Kaptur, Mr. Kildee, Mr. Kilmer, Mr. Krishnamoorthi, Mr. Lieu, Ms. McCollum, Mr. McGovern, Mr. Morelle, Ms. Omar, Mr. Panetta, Mr. Payne, Mr. Peters, Ms. Pingree, Ms. Porter, Mr. Quigley, Mr. Sablan, Ms. Salinas, Ms. Scanlon, Ms. Schakowsky, Mr. Schiff, Mr. Schneider, Ms. Stansbury, Ms. Stevens, Ms. Titus, Ms. Tlaib, Ms. Tokuda, Mr. Tonko, Ms. Velázquez, Ms. Williams of Georgia, and Ms. Wilson of Florida), H2623 [20AP] Cosponsors added, H2629 [23AP], H2636 [26AP] H. Res. 1167 — A resolution recognizing the benefits of natural gas to the United States economy and environment, and recognizing natural gas as an affordable and ‘‘green’’ energy; to the Committee on Energy and Commerce, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BALDERSON, H2628 [23AP] H. Res. 1168 — A resolution supporting the designation of the week of April 21 through April 27, 2024, as ‘‘National Crime Victims Rights Week’’; to the Committee on the Judiciary. By Mr. COSTA (for himself and Mr. D’Esposito), H2628 [23AP] H. Res. 1169 — A resolution commending and congratulating the University of Connecticut men’s basketball team, the UConn Huskies, for winning the 2024 National Collegiate Athletic Association Men’s Basketball Championship, and commending and congratulating the University of Connecticut’s women’s basketball team for securing a place in the Final Four; to the Committee on Education and the Workforce. By Mr. COURTNEY (for himself, Ms. DeLauro, Mr. Larson of Connecticut, Mr. Himes, and Mrs. Hayes), H2628 [23AP] H. Res. 1170 — A resolution prohibiting Members of the House of Representatives from bringing or displaying a flag of a foreign nation on the floor of the House, and for other purposes; to the Committee on Rules. By Mrs. CAMMACK (for herself, Mr. Alford, Mr. Allen, Mr. D’Esposito, Mr. Bilirakis, Mr. Timmons, Mr. Wenstrup, Mr. Finstad, Mr. Van Drew, Mr. Van Orden, Mr. Donalds, Mr. Luttrell, Mr. Mills, Mrs. Bice, Ms. Hageman, Mr. Smith of Missouri, Mr. Fry, Mr. Jackson of Texas, Mrs. Luna, Mr. Harris, Mrs. Houchin, Ms. Malliotakis, Mr. Collins, Mr. Miller of Ohio, Mr. Babin, Mrs. Miller-Meeks, Ms. Mace, Mrs. Fischbach, Ms. Lee of Florida, Mr. Langworthy, Ms. Maloy, and Ms. Tenney), H2635 [26AP] Cosponsors added, H2771 [30AP] H. Res. 1171 — A resolution recognizing the 30th anniversary of the genocide in Rwanda and joining people in Rwanda and around the world in remembering and mourning the victims of the genocide; to the Committee on Foreign Affairs. By Ms. OMAR (for herself, Mr. Jackson of Illinois, Ms. Norton, Mr. Carson, and Mr. McGovern), H2635 [26AP] H. Res. 1172 — A resolution expressing the profound sorrow of the House of Representatives on the death of the Honorable Donald M. Payne, Jr. By Mr. SMITH of New Jersey, H2700 [29AP] Agreed to in the House, H2689 [29AP] Text, H2689 [29AP] Message from the House, S3078 [30AP] H. Res. 1173 — A resolution providing for consideration of the bill (H.R. 615) to prohibit the Secretary of the Interior and the Secretary of Agriculture from prohibiting the use of lead ammunition or tackle on certain Federal land or water under the jurisdiction of the Secretary of the Interior and the Secretary of Agriculture, and for other purposes; providing for consideration of the bill (H.R. 2925) to amend the Omnibus Budget Reconciliation Act of 1993 to provided for security of tenure for use of mining claims for ancillary activities, and for other purposes; providing for consideration of the bill (H.R. 3195) to rescind Public Land Order 7917, to reinstate mineral leases and permits in Superior National Forest, to ensure timely review of Mine Plans of Operations, and for other purposes; providing for consideration of the bill (H.R. 764) to require the Secretary of the Interior to reissue regulations removing the gray wolf from the list of endangered and threatened wild life under the Endangered Species Act of 1973; providing for consideration of the bill (3397) to require the Director of the Bureau of Land Management to withdraw a rule of the Bureau of Land Management relating to conservation and landscape health; providing for consideration of the bill (H.R. 6285) to ratify and approve all authorizations, permits, verifications, extensions, biological opinions, incidental take statements, and any other approvals or orders issued pursuant to Federal laws necessary for the establishment and administration of the Coastal Plain oil and gas leasing program, and for other purposes; and providing for consideration of the bill (H.R. 6090) to provide for consideration of a definition of antisemitism set forth by the International Holocaust Remembrance Alliance for the enforcement of Federal anti-discrimination laws concerning education programs or activities, and for other purposes. By Mrs. FISCHBACH, H2699 [29AP] Reported (H. Rept. 118–477), H2699 [29AP] Debated, H2704 [30AP] Text, H2704 [30AP] Amendments, H2711 [30AP] Agreed to in the House, H2716 [30AP] H. Res. 1174 — A resolution supporting the goals and ideals of Mathematics and Statistics Awareness Month; to the Committee on Education and the Workforce. By Mrs. KIM of California (for herself, Mr. Kean of New Jersey, Mr. Lawler, Mr. Krishnamoorthi, Mr. Westerman, and Mr. Tonko), H2700 [29AP] H. Res. 1175 — A resolution expressing the sense of the House of Representatives that hydropower is a vital component to an all-of-the-above approach to energy development which is critical to United States national security; to the Committee on Energy and Commerce. By Mr. NEWHOUSE (for himself, Mrs. Rodgers of Washington, Mr. Fulcher, Mr. Bentz, and Mr. Zinke), H2700 [29AP] H. Res. 1176 — A resolution expressing disapproval of the Columbia Basin Restoration Initiative entered into by the Biden administration; to the Committee on Natural Resources. By Mr. NEWHOUSE (for himself, Mrs. Rodgers of Washington, Mr. Fulcher, Mr. Bentz, Mr. Rosendale, and Mr. Zinke), H2700 [29AP] H. Res. 1177 — A resolution expressing support for the designation of May 5, 2024, as the ‘‘National Day of Awareness for Missing and Murdered Indigenous Women and Girls’’; to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. NEWHOUSE (for himself, Ms. Moore of Wisconsin, Ms. Matsui, Ms. Porter, Ms. Norton, Ms. McCollum, Ms. Bonamici, Ms. Stansbury, Mr. Blumenauer, Ms. Brownley, Mr. Huffman, Ms. Leger Fernandez, Ms. Pingree, Mr. Kilmer, Ms. Schrier, Mr. Stanton, Ms. Hoyle of Oregon, Mr. Soto, Mr. LaMalfa, Mr. Smith of Nebraska, Ms. Salazar, Mr. Rosendale, Mr. Armstrong, Mrs. Rodgers of Washington, Mr. Grijalva, Mr. Gallego, Mr. Johnson of South Dakota, Mr. Cole, Mrs. Bice, Mr. Stauber, Mr. Pocan, Ms. Davids of Kansas, Ms. DelBene, Mr. Smith of Washington, Ms. Tokuda, Mr. Case, Mr. Joyce of Ohio, and Mr. Espaillat), H2700 [29AP] H. Res. 1178 — A resolution proclaiming a Declaration of Environmental Rights for Incarcerated People; to the Committee on the Judiciary. By Ms. PRESSLEY, H2700 [29AP] H. Res. 1179 — A resolution expressing support for the designation of May 2024 as Motorcycle Safety Awareness Month; to the Committee on Transportation and Infrastructure. By Mr. WALBERG (for himself, Mr. Balderson, Mr. Burgess, Mr. Norcross, and Mr. Van Orden), H2700 [29AP] Cosponsors added, H3275 [15MY] H. Res. 1180 — A resolution recognizing the importance of diversity, equity, and inclusion efforts in medical education; to the Committee on Energy and Commerce. By Mrs. BEATTY (for herself and Ms. Castor of Florida), H2769 [30AP] Cosponsors added, H2876 [6MY], H3000 [8MY], H3206 [14MY], H3400 [21MY], H3583 [3JN], H3682 [7JN], H4064 [13JN], H4116 [18JN] H. Res. 1181 — A resolution expressing support for designation of April as ‘‘National Donate Life Month’’ and expressing gratitude to all Americans who have registered to be organ and tissue donors; to the Committee on Energy and Commerce. By Mr. COSTA (for himself, Mr. Bucshon, Mr. Correa, and Mr. Murphy), H2769 [30AP] H. Res. 1182 — A resolution recognizing the role of Semper Fi & America’s Fund and their contributions to supporting members of the Armed Forces, veterans, and military families for the past 20 years; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. FITZPATRICK (for himself and Mr. Deluzio), H2769 [30AP] H. Res. 1183 — A resolution commending the University of South Carolina Gamecocks women’s basketball team for winning the 2024 National Collegiate Athletics Association Women’s Basketball National Championship; to the Committee on Education and the Workforce. By Mr. FRY (for himself, Mr. Wilson of South Carolina, Mr. Duncan, Mr. Timmons, Mr. Norman, Ms. Mace, and Mr. Clyburn), H2769 [30AP] H. Res. 1184 — A resolution recognizing the 50th anniversary of the Ms. Foundation for Women; to the Committee on the Judiciary. By Mr. GOLDMAN of New York (for himself, Ms. Brown, Mr. Cárdenas, Mrs. Cherfilus-McCormick, Ms. Clarke of New York, Mr. Cohen, Mr. Doggett, Mr. Grijalva, Ms. Kelly of Illinois, Ms. Meng, Ms. Norton, Ms. Schakowsky, Mrs. Watson Coleman, Mr. Veasey, Ms. Velázquez, Ms. Kamlager-Dove, and Ms. McClellan), H2769 [30AP] Cosponsors added, H3000 [8MY], H3206 [14MY] H. Res. 1185 — A resolution designating the month of May as ‘‘National First Responder Month’’; to the Committee on Transportation and Infrastructure. By Mr. NEWHOUSE (for himself, Mr. Bost, Mr. D’Esposito, Mr. Bilirakis, Ms. Houlahan, and Mr. Smith of Nebraska), H2769 [30AP] H. Res. 1186 — A resolution recognizing the indispensable role of the Indigenous people of Guatemala in ensuring a democratic transition following the 2023 general election in the face of judicial corruption, political exclusion, and historic marginalization, and urging the Government of Guatemala to follow through on its commitments to represent and equitably serve all Guatemalans; to the Committee on Foreign Affairs. By Mrs. RAMIREZ (for herself, Mr. Casar, Mr. Castro of Texas, Ms. Norton, Ms. Tlaib, Ms. Velázquez, Ms. Lee of Pennsylvania, Mr. García of Illinois, Ms. Schakowsky, and Ms. Escobar), H2769 [30AP] Cosponsors added, H2876 [6MY], H3000 [8MY], H3275 [15MY] H. Res. 1187 — A resolution recognizing the 49th anniversary of Black April and the Fall of Saigon on April 30, 1975; to the Committee on Foreign Affairs, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. STEEL (for herself and Mr. Correa), H2769 [30AP] Cosponsors added, H3400 [21MY] H. Res. 1188 — A resolution expressing support for the month of May as ‘‘Fallen Heroes Memorial Month’’; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BISHOP of North Carolina (for himself, Mrs. Luna, Mr. Ogles, and Mr. Armstrong), H2829 [1MY] Cosponsors added, H2876 [6MY], H3000 [8MY], H3007 [10MY], H3275 [15MY], H3527 [23MY], H3535 [28MY] H. Res. 1189 — A resolution supporting the designation of the week of April 29 through May 3, 2024, as ‘‘National Specialized Instructional Support Personnel Appreciation Week’’; to the Committee on Education and the Workforce. By Mrs. HAYES (for herself, Ms. Bonamici, Ms. Brown, Ms. Norton, Mr. Trone, and Mr. Fitzpatrick), H2829 [1MY] H. Res. 1190 — A resolution recognizing the disenfranchisement of District of Columbia residents, calling for statehood for the District of Columbia through the enactment of the Washington, D.C. Admission Act, and expressing support for the designation of May 1, 2024, as ‘‘D.C. Statehood Day’’; to the Committee on Oversight and Accountability, and in addition to the Committees on Rules, Armed Services, the Judiciary, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. NORTON, H2829 [1MY] H. Res. 1191 — A resolution expressing support for the designation of May 4, 2024, as a ‘‘National Day of Reason’’ and recognizing the central importance of reason in the betterment of humanity; to the Committee on Oversight and Accountability. By Mr. RASKIN (for himself, Mr. Huffman, Ms. Norton, and Ms. Brownley), H2829 [1MY] H. Res. 1192 — A resolution recognizing widening threats to freedom of the press and free expression around the world, reaffirming the vital role that a free and independent press plays in countering the growing threats of authoritarianism, misinformation, and disinformation, and reaffirming freedom of the press as a priority of the United States Government in promoting democracy, human rights, and good governance in commemoration of World Press Freedom Day on May 3, 2024; to the Committee on Foreign Affairs. By Mr. SCHIFF, H2835 [2MY] Cosponsors added, H3000 [8MY], H3206 [14MY] H. Res. 1193 — A resolution recognizing Maternal Mental Health Awareness Week to raise awareness about maternal mental health and its effects on maternal-child health; to the Committee on Energy and Commerce. By Mrs. KIM of California (for herself, Ms. Kelly of Illinois, Mr. Swalwell, Mr. Krishnamoorthi, Ms. Moore of Wisconsin, Mrs. Watson Coleman, Ms. Letlow, and Ms. Wild), H2874 [6MY] H. Res. 1194 — A resolution providing for consideration of the bill (H.R. 6192) to amend the Energy Policy and Conservation Act to prohibit the Secretary of Energy from prescribing any new or amended energy conservation standard for a product that is not technologically feasible and economically justified, and for other purposes; providing for consideration of the bill (H.R. 7109) to require a citizenship question on the decennial census, to require reporting on certain census statistics, and to modify apportionment of Representatives to be based on United States citizens instead of all persons; providing for consideration of the joint resolution (H.J. Res. 109) providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to ‘‘Staff Accounting Bulletin No. 121’’; and providing for consideration of the bill (H.R. 2925) to amend the Omnibus Budget Reconciliation Act of 1993 to provide for security of tenure for use of mining claims for ancillary activities, and for other purposes. By Mrs. HOUCHIN, H2873 [6MY] Reported (H. Rept. 118–487), H2873 [6MY] Debated, H2883 [7MY] Text, H2883 [7MY] Amendments, H2888 [7MY] Agreed to in the House, H2890 [7MY] H. Res. 1195 — A resolution expressing support for the goals and ideals of National Speech-Language-Hearing Month; to the Committee on Energy and Commerce. By Mrs. CAMMACK (for herself and Mr. Carter of Louisiana), H2874 [6MY] H. Res. 1196 — A resolution expressing the sense of the House of Representatives that public servants should be commended for their dedication and continued service to the United States during Public Service Recognition Week; to the Committee on Oversight and Accountability. By Mr. CONNOLLY, H2874 [6MY] Cosponsors added, H2939 [7MY] H. Res. 1197 — A resolution recognizing the roles and contributions of elementary and secondary school teachers in building and enhancing the civic, cultural, and economic well-being of the United States; to the Committee on Education and the Workforce. By Mr. GRAVES of Missouri (for himself, Mr. Cleaver, Mr. Boyle of Pennsylvania, Mr. Davis of Illinois, Mr. Fitzpatrick, Mr. Moylan, Ms. Norton, Mr. Casten, Ms. Moore of Wisconsin, Ms. Stevens, Ms. Wild, Mr. Turner, Ms. Porter, Mr. Thompson of Pennsylvania, Mr. Peters, Mr. Kildee, Mr. Garamendi, Ms. Spanberger, and Mr. Allred), H2874 [6MY] Cosponsors added, H2939 [7MY], H3000 [8MY], H3206 [14MY], H3583 [3JN] H. Res. 1198 — A resolution commemorating the 105th anniversary of diplomatic relations between Poland and the United States; to the Committee on Foreign Affairs. By Ms. KAPTUR (for herself, Mr. Smith of New Jersey, Mr. Keating, and Mr. Turner), H2874 [6MY] Cosponsors added, H3275 [15MY], H3400 [21MY], H3486 [22MY], H3531 [24MY], H3543 [31MY], H3657 [4JN] H. Res. 1199 — A resolution recognizing the 50th anniversary of the Turkish invasion and occupation of northern Cyprus; to the Committee on Foreign Affairs. By Ms. MALLIOTAKIS (for herself, Mr. Bilirakis, Ms. Titus, Mr. Sarbanes, and Mr. Pappas), H2874 [6MY] Cosponsors added, H3527 [23MY], H3583 [3JN], H4064 [13JN] H. Res. 1200 — A resolution expressing support for the designation of the week of May 5, 2024, through May 11, 2024, as ‘‘Tardive Dyskinesia Awareness Week’’; to the Committee on Energy and Commerce. By Mr. PETERS (for himself, Mr. Bilirakis, Mr. Mullin, and Mr. Bean of Florida), H2874 [6MY] H. Res. 1201 — A resolution supporting the designation of May 9, 2024, as ‘‘National Scam Survivor Day’’; to the Committee on Energy and Commerce. By Mr. STEIL (for himself, Mr. Gottheimer, Mr. Meuser, Ms. Pettersen, Mr. Van Orden, and Mr. Harder of California), H2874 [6MY] Cosponsors added, H2939 [7MY], H3007 [10MY] H. Res. 1202 — A resolution expressing support for the recognition of May 5 through May 11, 2024, as Wildfire Preparedness Week, the national event educating the public on fire safety and preparedness, and supporting the goals of a Wildfire Preparedness Week; to the Committee on Natural Resources. By Mrs. TORRES of California (for herself, Mr. Huffman, and Ms. Jacobs), H2874 [6MY] Cosponsors added, H2939 [7MY], H3206 [14MY] H. Res. 1203 — A resolution expressing support for the designation of July 17, 2024, as ‘‘Glioblastoma Awareness Day’’; to the Committee on Energy and Commerce. By Mr. WILLIAMS of Texas (for himself, Mr. Mast, Ms. Schakowsky, and Mr. Auchincloss), H2874 [6MY] Cosponsors added, H3206 [14MY], H3676 [5JN] H. Res. 1204 — A resolution electing a Member to a certain standing committee of the House of Representatives. By Mr. AGUILAR, H2936 [7MY] Agreed to in the House, H2891 [7MY] Text, H2891 [7MY] H. Res. 1205 — A resolution finding that Merrick Garland, Attorney General of the United States, is in contempt of the House of Representatives for disobeying a certain subpoena; to the Committee on Rules. By Mrs. LUNA, H2936 [7MY] H. Res. 1206 — A resolution expressing support for the designation of May 2024 as ‘‘Mental Health Awareness Month’’; to the Committee on Energy and Commerce. By Mrs. NAPOLITANO (for herself, Mr. Beyer, Ms. Salinas, Mrs. Watson Coleman, Mr. Trone, Ms. Norton, Ms. Porter, Mr. Tonko, Mr. Peters, Ms. Jackson Lee, Mr. Torres of New York, Ms. Chu, Mr. Krishnamoorthi, Mr. Sablan, Mrs. Cherfilus-McCormick, Mr. Kim of New Jersey, Ms. Sewell, Ms. Dean of Pennsylvania, Ms. Sherrill, Ms. Pettersen, Mrs. Ramirez, Ms. Moore of Wisconsin, Ms. Barragán, Ms. Matsui, Mr. Bacon, Mr. Moskowitz, Ms. Lee of Nevada, Ms. Kelly of Illinois, Mr. Fitzpatrick, Ms. Balint, Ms. Tokuda, Ms. Stansbury, Mrs. Trahan, Ms. Castor of Florida, Ms. McCollum, Mr. Cárdenas, Mr. Costa, Ms. Brownley, and Mr. Norcross), H2936 [7MY] Cosponsors added, H3000 [8MY], H3007 [10MY], H3206 [14MY], H3275 [15MY], H3331 [16MY], H3400 [21MY], H3486 [22MY], H3527 [23MY], H3531 [24MY], H3583 [3JN], H3728 [11JN], H3976 [12JN] H. Res. 1207 — A resolution censuring Representative Ilhan Omar of Minnesota for her recent hateful comments and history of antisemitism; to the Committee on Ethics. By Mr. BACON (for himself, Mr. Wilson of South Carolina, Mr. Van Orden, and Ms. Tenney), H2936 [7MY] Cosponsors added, H3206 [14MY], H3531 [24MY] H. Res. 1208 — A resolution supporting the goals and ideals of National Nurses Week, to be observed from May 6 through May 12, 2024; to the Committee on Energy and Commerce. By Mr. JOYCE of Ohio (for himself, Ms. Bonamici, Mrs. Kiggans of Virginia, and Ms. Underwood), H2936 [7MY] Cosponsors added, H3206 [14MY] H. Res. 1209 — A resolution declaring the office of Speaker of the House of Representatives to be vacant. By Ms. GREENE of Georgia, H2997 [8MY] Text, H2980 [8MY] Motion to table resolution agreed to, H2981 [8MY] H. Res. 1210 — A resolution condemning the Biden border crisis and the tremendous burdens law enforcement officers face as a result; to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. HIGGINS of Louisiana (for himself, Ms. Letlow, Mr. Brecheen, Mr. Guest, Mr. Ezell, and Mr. Green of Tennessee), H2997 [8MY] Cosponsors added, H3007 [10MY], H3206 [14MY], H3275 [15MY] Text, H3239 [15MY] Agreed to in the House, H3251 [15MY] Providing for consideration (H. Res. 1227), H3272 [15MY] H. Res. 1211 — A resolution condemning the violent, anti-American and anti-Israel protests that are occurring on campuses of institutions of higher education nationwide; to the Committee on Education and the Workforce. By Mr. BISHOP of North Carolina (for himself, Mr. Burchett, Mr. Murphy, Mr. Weber of Texas, Mr. Duncan, Mr. Biggs, Mr. Johnson of South Dakota, and Mr. Clyde), H2997 [8MY] Cosponsors added, H3007 [10MY] H. Res. 1212 — A resolution ending campus encampments; to the Committee on Education and the Workforce. By Mr. KILEY, H2997 [8MY] H. Res. 1213 — A resolution regarding violence against law enforcement officers; to the Committee on the Judiciary. By Mr. STAUBER, H2997 [8MY] Cosponsors added, H3206 [14MY] Providing for consideration (H. Res. 1227), H3272 [15MY] Debated, H3334 [17MY] Text, H3334 [17MY] Agreed to in the House, H3341 [17MY] H. Res. 1214 — A resolution honoring the resiliency of America’s teachers during Teacher Appreciation Week of May 6, 2024, through May 13, 2024; to the Committee on Education and the Workforce. By Mr. TRONE (for himself, Mr. Owens, Mr. Cleaver, Mrs. Chavez-DeRemer, Ms. Williams of Georgia, and Mr. Morelle), H2997 [8MY] Cosponsors added, H3400 [21MY] H. Res. 1215 — A resolution calling on elected officials and civil society leaders to join in efforts to educate the public on the contributions of the Jewish American community; to the Committee on the Judiciary, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. WASSERMAN SCHULTZ (for herself, Mrs. Miller-Meeks, Mr. Carter of Louisiana, and Mr. Fitzpatrick), H2998 [8MY] Cosponsors added, H3358 [17MY], H3486 [22MY], H3543 [31MY], H3583 [3JN] Text, H3549 [3JN] Rules suspended. Agreed to in the House amended, H3567 [3JN] H. Res. 1216 — A resolution expressing support for the goals and ideals of National Stroke Awareness Month; to the Committee on Energy and Commerce. By Mrs. BEATTY (for herself and Mr. Fitzpatrick), H3005 [10MY] H. Res. 1217 — A resolution supporting the designation of May 10, 2024, as ‘‘National Asian American, Native Hawaiian, and Pacific Islander Mental Health Day’’; to the Committee on Energy and Commerce. By Ms. CHU (for herself, Ms. Tokuda, Ms. Matsui, Ms. Strickland, Mr. Sablan, Ms. DelBene, Mr. Mullin, Ms. Titus, Ms. Meng, Mr. Krishnamoorthi, Mr. Thanedar, Mrs. Watson Coleman, Mr. DeSaulnier, Ms. Lee of California, Mr. Case, Mr. Takano, Mr. Pocan, Mr. Green of Texas, Mr. Kim of New Jersey, Ms. Sánchez, Ms. Bonamici, Ms. Jayapal, Mr. Peters, Mrs. Napolitano, Mr. Bera, Mr. Gomez, Mr. Scott of Virginia, Mr. Menendez, Ms. Barragán, Mr. Carbajal, Mr. Suozzi, Mr. Panetta, Ms. Norton, and Ms. Lee of Nevada), H3005 [10MY] Cosponsors added, H3331 [16MY], H3486 [22MY] H. Res. 1218 — A resolution expressing the sense of the House of Representatives that Congress recognizes the unseen sacrifices and countless contributions of the Southwest Florida law enforcement community; to the Committee on the Judiciary. By Mr. DONALDS, H3005 [10MY] H. Res. 1219 — A resolution condemning the Biden Administration’s decision to pause certain arms transfers to Israel; to the Committee on Foreign Affairs. By Mr. MILLER of Ohio (for himself and Mr. McCaul), H3005 [10MY] Cosponsors added, H3206 [14MY], H3527 [23MY] H. Res. 1220 — A resolution impeaching Joseph Robinette Biden, Jr., President of the United States, for high crimes and misdemeanors; to the Committee on the Judiciary. By Mr. MILLS (for himself and Mr. Crane), H3005 [10MY] Cosponsors added, H3206 [14MY], H3728 [11JN] H. Res. 1221 — A resolution marking the 35th anniversary of the Tiananmen Square massacre and condemning the ongoing and often brutal suppression of human rights and basic freedoms by the Government of the People’s Republic of China and Chinese Communist Party, including in the Hong Kong Special Administrative Region, and for other purposes; to the Committee on Foreign Affairs. By Mr. SMITH of New Jersey (for himself and Ms. Wexton), H3005 [10MY] Cosponsors added, H3486 [22MY], H3543 [31MY], H3657 [4JN] H. Res. 1222 — A resolution condemning the Communist Party of Vietnam for imprisoning independent journalists, human rights defenders, religious figures, and dissidents in Vietnam; to the Committee on Foreign Affairs. By Mrs. STEEL (for herself and Mr. Correa), H3005 [10MY] Cosponsors added, H3400 [21MY] H. Res. 1223 — A resolution designating October, 10, 2024, as ‘‘American Girls in Sports Day’’; to the Committee on Education and the Workforce. By Ms. STEFANIK (for herself, Mr. Stauber, Mrs. Miller of Illinois, Mr. Scott Franklin of Florida, Mrs. Hinson, Mr. Tiffany, Mrs. Kiggans of Virginia, Ms. Letlow, Mr. Rose, Mr. Ellzey, Mr. Nehls, Mr. Nunn of Iowa, Mr. Owens, Mr. Guthrie, Ms. Mace, Mrs. Lesko, Mr. Burchett, Ms. Tenney, Mr. D’Esposito, Mr. Kelly of Pennsylvania, and Mrs. Houchin), H3005 [10MY] Cosponsors added, H3206 [14MY] H. Res. 1224 — A resolution condemning President Biden’s threat to withhold aid and military assistance to Israel; to the Committee on Foreign Affairs. By Mr. VAN DREW, H3005 [10MY] H. Res. 1225 — A resolution expressing support for the designation of June, 9, 2024 in June as ‘‘Veterans Get Outside Day’’; to the Committee on Oversight and Accountability. By Mr. GRAVES of Louisiana (for himself, Mr. Moulton, and Mr. Amo), H3203 [14MY] H. Res. 1226 — A resolution memorializing law enforcement officers killed in the line of duty; to the Committee on the Judiciary. By Mr. GUEST (for himself, Ms. Letlow, Mr. Pappas, Ms. Spanberger, Mr. Graves of Louisiana, Mr. Norman, Mr. LaTurner, Mr. Huizenga, Mr. Crenshaw, Mr. Garbarino, Mr. Ezell, Mr. Rutherford, Mr. Bacon, Mr. Kildee, Mrs. Lesko, Mr. Rogers of Alabama, Mr. D’Esposito, Mr. Stauber, Mr. Kelly of Mississippi, Mr. Ogles, Mrs. Kim of California, Mrs. Houchin, Mr. Kean of New Jersey, Mr. Meuser, Ms. De La Cruz, Ms. Salazar, Mr. McCaul, Mr. Lamborn, Mr. Gallego, Mr. Strong, Mrs. Chavez-DeRemer, Mr. Kustoff, Mr. Harris, Mr. Joyce of Ohio, Mr. Van Drew, Mrs. Cammack, Mr. Carl, Mr. Armstrong, Mr. Valadao, Mr. Tony Gonzales of Texas, Mr. Kelly of Pennsylvania, Mr. Thompson of Pennsylvania, Mr. Steil, Mr. Costa, Mr. McCormick, Ms. Van Duyne, Mr. Calvert, Mr. Carter of Georgia, Mr. Sessions, Mr. Guthrie, Ms. Titus, Mr. Feenstra, Mr. Lawler, Mr. Moolenaar, Mr. Dunn of Florida, Mr. Rouzer, Ms. Mace, Mr. Rose, Mr. Ciscomani, Mr. Gimenez, Mr. Mike Garcia of California, Mr. Aderholt, Ms. Malliotakis, Mr. Fitzpatrick, Mr. Miller of Ohio, Mr. Hudson, Mr. Balderson, Mr. Banks, Mr. Kiley, Mr. Fleischmann, Mr. Gooden of Texas, Mr. Westerman, Ms. Lee of Florida, Mr. Grothman, Mr. Mooney, Mr. Williams of New York, Mrs. Fischbach, Mr. Mills, Ms. Stefanik, Ms. Kuster, Mrs. Hinson, Mr. Gottheimer, Mr. Langworthy, Mrs. Bice, Mr. Wittman, Mr. Bilirakis, and Mr. McHenry), H3203 [14MY] Cosponsors added, H3275 [15MY], H3358 [17MY], H3583 [3JN] H. Res. 1227 — A resolution providing for consideration of the bill (H.R. 8369) to provide for expeditious delivery of defense articles and defense services for Israel and other matters; providing for consideration of the bill (H.R. 7530) to limit youth offender status in the District of Columbia to individuals 18 years of age or younger, to direct the Attorney General of the District of Columbia to establish and operate a publicly accessible website containing updated statistics on juvenile crime in the District of Columbia, to amend the District of Columbia Home Rule Act to prohibit the Council of the District of Columbia from enacting changes to existing criminal liability sentences, and for other purposes; providing for consideration of the bill (H.R. 7343) to amend the Immigration and Nationality Act to provide for the detention of certain aliens who commit assault against law enforcement officers; providing for consideration of the bill (H.R. 8146) to require a report by the Attorney General on the impact the border crisis is having on law enforcement at the Federal, State, local, and Tribal level; providing for consideration of the bill (H.R. 7581) to require the Attorney General to develop reports relating to violent attacks against law enforcement officers, and for other purposes; providing for consideration of the bill (H.R. 354) to amend title 18, United States Code, to improve the Law Enforcement Officer Safety Act and provisions relating to the carrying of concealed weapons by law enforcement officers, and for other purposes; providing for consideration of the resolution (H. Res. 1213) a resolution regarding violence against law enforcement officers; and providing for consideration of the resolution (H. Res. 1210) condemning the Biden border crisis and the tremendous burdens law enforcement officers face as a result. By Mr. LANGWORTHY, H3272 [15MY] Debated, H3218 [15MY] Text, H3218 [15MY] Amendments, H3227 [15MY] Agreed to in the House, H3228 [15MY] H. Res. 1228 — A resolution recognizing the significance of Asian American, Native Hawaiian, and Pacific Islander Heritage Month as an important time to celebrate the significant contributions of Asian Americans, Native Hawaiians, and Pacific Islanders to the history of the United States; to the Committee on Oversight and Accountability. By Ms. CHU (for herself, Mr. Sablan, Ms. Tokuda, Ms. Meng, Mr. Thanedar, Ms. DelBene, Mr. Mullin, Mrs. Foushee, Mr. Menendez, Mr. Vargas, Ms. Barragán, Mr. Krishnamoorthi, Mrs. Watson Coleman, Mr. Bowman, Ms. Lee of California, Mr. Green of Texas, Ms. Norton, Mr. Carbajal, Mr. Case, Mr. Sherman, Mr. Bera, Mr. Takano, Mr. Lieu, Ms. Sánchez, Mrs. Fletcher, Mr. Kim of New Jersey, Ms. Lee of Nevada, Ms. Wasserman Schultz, Mr. Gomez, and Mr. Raskin), H3273 [15MY] Cosponsors added, H3486 [22MY] H. Res. 1229 — A resolution supporting the designation of May 15, 2024, as ‘‘National Senior Fraud Awareness Day’’ to raise awareness about the increasing number of fraudulent scams targeted at seniors in the United States, to encourage the implementation of policies to prevent those scams from happening, and to improve protections from those scams for seniors; to the Committee on Energy and Commerce. By Ms. KAPTUR (for herself, Mr. Fitzpatrick, Mrs. Napolitano, and Mr. Smith of New Jersey), H3273 [15MY] Cosponsors added, H3400 [21MY] H. Res. 1230 — A resolution recognizing the hundreds of thousands of lives lost during Sri Lanka’s almost 30-year armed conflict, which ended 15 years ago on May 18, 2009, and ensuring nonrecurrence of past violence, including the Tamil Genocide, by supporting the right to self-determination of Eelam Tamil people and their call for an independence referendum for a lasting peaceful resolution; to the Committee on Foreign Affairs. By Mr. NICKEL (for himself, Ms. Wild, Mr. Davis of Illinois, Ms. Malliotakis, Mr. Carey, Mr. Davis of North Carolina, Ms. Lee of Pennsylvania, and Mr. Jackson of North Carolina), H3273 [15MY] Cosponsors added, H4110 [14JN] H. Res. 1231 — A resolution recognizing the Nakba and Palestinian refugees’ rights; to the Committee on Foreign Affairs. By Ms. TLAIB (for herself, Ms. Omar, Ms. Bush, and Mr. Carson), H3273 [15MY] Cosponsors added, H3331 [16MY] H. Res. 1232 — A resolution expressing support for the goals and ideals of ‘‘National Hypertension Awareness Month’’; to the Committee on Energy and Commerce. By Mrs. BEATTY, H3329 [16MY] H. Res. 1233 — A resolution supporting the goals and ideals of National Honor Our LGBT Elders Day; to the Committee on Foreign Affairs, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BONAMICI (for herself, Ms. Davids of Kansas, Mr. Torres of New York, Mr. Grijalva, Ms. Williams of Georgia, Mr. Moskowitz, Ms. Norton, Mr. Takano, Ms. Lee of California, Mr. Carbajal, Mr. Gottheimer, Ms. Garcia of Texas, Mr. Peters, Mr. Pocan, Ms. Lee of Pennsylvania, Mr. Goldman of New York, and Ms. Jayapal), H3329 [16MY] Cosponsors added, H3400 [21MY] H. Res. 1234 — A resolution celebrating the East Bay Regional Park District’s 90th anniversary; to the Committee on Natural Resources. By Mr. DeSAULNIER (for himself, Mr. Garamendi, Mr. Harder of California, Mr. Khanna, Ms. Lee of California, and Mr. Swalwell), H3329 [16MY] H. Res. 1235 — A resolution expressing the sense of the House of Representatives that certain welfare programs discourage marriage and hurt the institution of the family in the United States; to the Committee on Ways and Means. By Mr. GROTHMAN (for himself, Mrs. Miller of Illinois, Mr. Allen, Mr. Weber of Texas, and Mr. Lamborn), H3329 [16MY] Cosponsors added, H3531 [24MY] H. Res. 1236 — A resolution expressing support for designation of May 16, 2024, as the ‘‘National Day of Light’’; to the Committee on Science, Space, and Technology. By Mr. MORELLE (for himself and Mr. Mast), H3329 [16MY] H. Res. 1237 — A resolution recognizing ‘‘Necrotizing Enterocolitis Awareness Day’’; to the Committee on Energy and Commerce. By Mr. THOMPSON of California (for himself and Mr. Kiley), H3329 [16MY] H. Res. 1238 — A resolution supporting the designation of May 17, 2024, as ‘‘Endangered Species Day’’; to the Committee on Natural Resources. By Mrs. DINGELL (for herself, Mr. Beyer, and Mr. Grijalva), H3356 [17MY] H. Res. 1239 — A resolution strongly condemning the rise of antisemitism on campuses of institutions of higher education across the United States; to the Committee on Education and the Workforce. By Mr. DONALDS (for himself, Mr. Mills, and Mr. Weber of Texas), H3356 [17MY] H. Res. 1240 — A resolution providing for consideration of the bill (H.R. 4121) to protect an individual’s ability to access contraceptives and to engage in contraception and to protect a health care provider’s ability to provide contraceptives, contraception, and information related to contraception; to the Committee on Rules. By Ms. MANNING, H3356 [17MY] H. Res. 1241 — A resolution calling for the establishment of a comprehensive, long-term development program to rebuild the Republic of Haiti; to the Committee on Foreign Affairs. By Ms. SCHAKOWSKY (for herself, Mrs. Cherfilus-McCormick, and Ms. Clarke of New York), H3356 [17MY] Cosponsors added, H3535 [28MY] H. Res. 1242 — A resolution prioritizing mental health to the same degree as physical health to address the epidemics of suicide and drug overdose in the United States; to the Committee on Energy and Commerce. By Mr. THANEDAR (for himself, Ms. Jackson Lee, and Mr. Soto), H3357 [17MY] Cosponsors added, H3400 [21MY], H3535 [28MY], H3657 [4JN] H. Res. 1243 — A resolution providing for consideration of the bill (H.R. 4763) to provide for a system of regulation of digital assets by the Commodity Futures Trading Commission, and for other purposes; providing for consideration of the bill (H.R. 5403) to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes; providing for consideration of the bill (H.R. 192) to prohibit individuals who are not citizens of the United States from voting in elections in the District of Columbia. By Mrs. HOUCHIN, H3396 [21MY] Reported (H. Rept. 118–516), H3396 [21MY] Debated, H3414 [22MY] Text, H3414 [22MY] Agreed to in the House, H3419 [22MY] H. Res. 1244 — A resolution censuring Associate Justice Samuel Alito, Jr., for knowingly violating the Federal recusal statute and binding ethics standards; to the Committee on the Judiciary. By Mr. COHEN (for himself, Mrs. Ramirez, Ms. Balint, Ms. Schakowsky, Ms. Tlaib, Ms. Norton, Mr. Mullin, Mr. Boyle of Pennsylvania, and Mr. Espaillat), H3398 [21MY] Cosponsors added, H3527 [23MY], H3583 [3JN] H. Res. 1245 — A resolution recognizing ‘‘National Public Works Week’’; to the Committee on Transportation and Infrastructure. By Ms. CRAIG (for herself, Ms. Titus, and Mr. Van Drew), H3398 [21MY] H. Res. 1246 — A resolution condemning the Department of State’s statement expressing condolences for the death of Iranian President Ebrahim Raisi, Foreign Minister Amir-Abdollahian, and other members of their delegation; to the Committee on Foreign Affairs. By Mr. HUIZENGA (for himself, Mr. Stauber, Mr. Norman, Mrs. Miller of West Virginia, Mr. Burchett, Mr. Lamborn, Mr. McCormick, Mr. Feenstra, Mr. Moran, and Mrs. Kim of California), H3398 [21MY] Cosponsors added, H3486 [22MY], H3527 [23MY], H3531 [24MY], H3657 [4JN] H. Res. 1247 — A resolution recognizing the importance of ‘‘National Safe Boating Week’’; to the Committee on Transportation and Infrastructure. By Mrs. LUNA (for herself, Mr. Weber of Texas, Mr. Fry, Mr. Van Drew, Mr. Smith of New Jersey, and Mr. Davis of North Carolina), H3398 [21MY] H. Res. 1248 — A resolution recognizing the impact the stigmatization of menstruation has on the lives of women, girls, and people who menstruate, and expressing support for the designation of the month of May as ‘‘National Menstrual Health Awareness Month’’; to the Committee on Energy and Commerce, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. MENG (for herself, Ms. Clarke of New York, Ms. Barragán, Mrs. Beatty, Ms. Brownley, Mrs. Cherfilus-McCormick, Ms. Chu, Ms. Lois Frankel of Florida, Ms. Lee of California, Ms. Moore of Wisconsin, Ms. Norton, Ms. Plaskett, Ms. Porter, Ms. Sewell, Mr. Trone, and Ms. Velázquez), H3398 [21MY] Cosponsors added, H3486 [22MY], H3527 [23MY], H3531 [24MY], H3543 [31MY], H3657 [4JN], H3682 [7JN] H. Res. 1249 — A resolution recognizing on Memorial Day, May 27, 2024, the denial of full participation in their Government through statehood by active duty servicemembers, National Guard members, reservists, veterans, and their families who are residents of the District of Columbia; to the Committee on Oversight and Accountability. By Ms. NORTON, H3398 [21MY] H. Res. 1250 — A resolution commemorating the 60th anniversary of President Lyndon Baines Johnson’s Great Society; to the Committee on Oversight and Accountability. By Mr. ALLRED (for himself, Mr. Doggett, Mr. Tonko, Ms. Garcia of Texas, Mrs. Fletcher, and Mr. Costa), H3484 [22MY] Cosponsors added, H3657 [4JN] H. Res. 1251 — A resolution honoring Rosalynn Smith Carter’s legacy in mental health advocacy; to the Committee on Energy and Commerce. By Mr. CARTER of Georgia (for himself and Mrs. Dingell), H3484 [22MY] H. Res. 1252 — A resolution honoring the commitment and care of emergency medical services personnel; to the Committee on Energy and Commerce. By Mr. GUEST (for himself, Mr. Hudson, Mrs. Dingell, Mr. Fitzpatrick, Mr. Crenshaw, Ms. Tenney, Mr. Bacon, Mr. McCormick, Mrs. Chavez-DeRemer, Mr. Thompson of Pennsylvania, Mrs. Miller of West Virginia, Mr. Carey, Ms. Wild, Mr. Duncan, Mr. Fleischmann, Mr. Moolenaar, Mr. Joyce of Pennsylvania, Mr. LaHood, Ms. Pettersen, Mr. Ezell, Mr. Lawler, Mr. Kelly of Mississippi, Mr. Ryan, Mr. Luetkemeyer, Mr. Armstrong, Mr. Joyce of Ohio, Ms. Stefanik, and Ms. Blunt Rochester), H3484 [22MY] Cosponsors added, H3583 [3JN] H. Res. 1253 — A resolution reaffirming that the United States is not a party to the Rome Statute and does not recognize the jurisdiction of the International Criminal Court; to the Committee on Foreign Affairs. By Mr. BIGGS, H3523 [23MY] H. Res. 1254 — A resolution recognizing the strategic importance of Kenya to the United States and celebrating the 60-year anniversary of United States-Kenya relations; to the Committee on Foreign Affairs. By Mrs. CHERFILUS-McCORMICK (for herself, Mr. James, Mr. Meeks, Ms. Jacobs, Mr. Buchanan, Mr. Jackson of Illinois, and Mrs. Kim of California), H3523 [23MY] H. Res. 1255 — A resolution calling upon all Americans on this Memorial Day, 2024, to honor the men and women of the Armed Forces who have died in the pursuit of freedom and peace; to the Committee on Oversight and Accountability. By Mr. GUEST (for himself, Mr. Fitzpatrick, Mr. Weber of Texas, Mr. Fulcher, Mr. Carter of Texas, Mr. Gimenez, Mr. Carson, Mr. Ezell, Mrs. Bice, Ms. Tenney, Ms. Malliotakis, Mrs. Chavez-DeRemer, Ms. Salazar, Mr. LaMalfa, Mr. Trone, Mr. Moskowitz, Mr. Dunn of Florida, Mr. Fleischmann, Mr. Baird, Mr. Edwards, Mr. Mills, Mr. Hunt, Mr. Biggs, Mr. Kean of New Jersey, Mr. Moolenaar, Mr. Nunn of Iowa, Mr. LaTurner, Mr. McCormick, Ms. Davids of Kansas, Mr. Allen, Mr. Latta, Mr. Krishnamoorthi, Mr. Stauber, Mr. Webster of Florida, Mr. Mann, Mrs. McClain, Ms. Mace, Mr. Waltz, Mr. Austin Scott of Georgia, Mr. Miller of Ohio, Mr. Kustoff, Mr. Timmons, Mr. Balderson, Mr. Moore of Alabama, Mr. Tiffany, Mr. Rutherford, Mr. Mike Garcia of California, Mrs. Fischbach, Mr. Harder of California, Ms. Pettersen, Mr. Langworthy, Mr. Norman, Mrs. Hinson, Mr. Costa, Mrs. Lesko, Ms. Letlow, Mr. McCaul, Mr. Pfluger, Mr. Bacon, Mr. Kelly of Pennsylvania, Mr. Burgess, Mrs. Rodgers of Washington, Mr. Kelly of Mississippi, Mr. Clyde, Mrs. Miller of West Virginia, Mr. Williams of New York, Mr. Harris, Mr. D’Esposito, Mr. Garbarino, Mr. Davis of North Carolina, Mr. Buchanan, and Mr. Meuser), H3523 [23MY] Cosponsors added, H3531 [24MY], H3583 [3JN] H. Res. 1256 — A resolution condemning the United Nations moment of silence for Ebrahim Raisolsadati as a blatant disregard of the United Nations Charter; to the Committee on Foreign Affairs. By Mrs. MILLER of West Virginia (for herself, Mr. Reschenthaler, Mr. Huizenga, Mr. Biggs, Mr. Babin, Mr. Burchett, and Ms. Tenney), H3523 [23MY] Cosponsors added, H3583 [3JN] H. Res. 1257 — A resolution expressing the need for enhanced public awareness of Huntington’s Disease and support for the designation of a ‘‘National Huntington’s Disease Awareness Month’’; to the Committee on Energy and Commerce. By Mr. PASCRELL (for himself and Mr. Smith of New Jersey), H3523 [23MY] H. Res. 1258 — A resolution recognizing and Honoring the Unwavering Journey of our Armed Forces from Enlistment to Their Lasting Contributions as Veterans; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. VAN DREW, H3523 [23MY] H. Res. 1259 — A resolution expressing support for the designation of May 2024 as ‘‘National Physical Fitness and Sports Month’’; to the Committee on Energy and Commerce. By Mr. VEASEY (for himself, Mr. Allred, Ms. Sewell, Ms. Norton, Ms. Barragán, and Mr. Bacon), H3523 [23MY] H. Res. 1260 — A resolution expressing support for the designation of the month of May 2024 as ‘‘Progressive Supranuclear Palsy Awareness Month’’; to the Committee on Energy and Commerce. By Ms. WEXTON (for herself, Ms. Wild, Ms. Tokuda, Mrs. Fletcher, Ms. McClellan, Mrs. Hayes, Ms. Crockett, Ms. Slotkin, Mrs. Dingell, Ms. Bonamici, Ms. Porter, Ms. Williams of Georgia, Ms. Salinas, Ms. Blunt Rochester, Ms. Caraveo, Ms. Jacobs, Ms. Scanlon, Ms. Spanberger, Ms. Ross, Mrs. Beatty, Ms. Barragán, Ms. Clark of Massachusetts, Ms. Jayapal, Mr. Connolly, Mrs. Cherfilus-McCormick, Mr. Quigley, Ms. Leger Fernandez, Mr. Tonko, Mr. Sablan, Ms. Schakowsky, Ms. Stevens, Mrs. Watson Coleman, Mr. Kilmer, Mr. Rose, Mr. Nickel, Mr. Pascrell, Ms. Balint, Ms. Houlahan, Mr. Scott of Virginia, Ms. Norton, Mr. Himes, Mr. Johnson of Georgia, Ms. Moore of Wisconsin, Mr. Carter of Georgia, Ms. Brownley, Mr. Schneider, Mr. Ryan, Mr. Cleaver, Mr. Costa, Mr. Espaillat, Ms. Eshoo, Mr. Pocan, Ms. Craig, Ms. Manning, Mrs. Foushee, Ms. Garcia of Texas, Ms. Clarke of New York, Ms. Kelly of Illinois, Ms. Hoyle of Oregon, Mr. Krishnamoorthi, Mr. Davis of North Carolina, Mr. Doggett, Ms. Sewell, Mr. Pappas, Ms. Lee of California, Ms. Stansbury, Ms. Pingree, Mr. Stanton, Mrs. Trahan, Mr. Landsman, Ms. Kuster, Ms. Castor of Florida, Ms. Jackson Lee, Mr. Lawler, Ms. Lois Frankel of Florida, Ms. DelBene, Mr. Thanedar, Ms. Matsui, Ms. Sherrill, Mr. David Scott of Georgia, Mr. Cohen, Mr. Peters, Mr. Kildee, Mr. Casten, Mr. Auchincloss, Ms. Titus, Mrs. Miller-Meeks, Ms. DeLauro, Ms. Tlaib, Mr. Robert Garcia of California, Mr. McGovern, Ms. Escobar, Mr. Mr van, Mr. Beyer, Mr. Bacon, Mr. Raskin, Mr. Bilirakis, Mrs. Sykes, Mrs. Bice, Ms. Kamlager-Dove, Ms. Wasserman Schultz, Ms. Lofgren, and Ms. Scholten), H3523 [23MY] Cosponsors added, H3657 [4JN] H. Res. 1261 — A resolution honoring the service and sacrifices of the men and women of the U.S. Border Patrol and their families on its centennial; to the Committee on Homeland Security. By Mr. THOMPSON of Mississippi (for himself, Ms. Jackson Lee, Mr. Correa, Mr. Thanedar, Mr. Magaziner, Mr. Suozzi, and Mr. Kennedy), H3530 [24MY] Cosponsors added, H3535 [28MY] H. Res. 1262 — A resolution celebrating the centennial of the U.S. Border Patrol; to the Committee on Homeland Security. By Mr. GREEN of Tennessee (for himself, Mr. McCaul, Mr. Higgins of Louisiana, Mr. Guest, Mr. Bishop of North Carolina, Mr. Gimenez, Mr. Pfluger, Mr. Garbarino, Ms. Greene of Georgia, Mr. Tony Gonzales of Texas, Mr. LaLota, Mr. Ezell, Mr. D’Esposito, Ms. Lee of Florida, Mr. Luttrell, Mr. Strong, Mr. Brecheen, and Mr. Crane), H3534 [28MY] Cosponsors added, H3543 [31MY], H3583 [3JN] H. Res. 1263 — A resolution affirming Congress’ support of diplomatic ties with the Kingdom of Bahrain; to the Committee on Foreign Affairs. By Mrs. MILLER of West Virginia, H3534 [28MY] H. Res. 1264 — A resolution expressing support for the designation of May 2024 as ‘‘National Brain Tumor Awareness Month’’; to the Committee on Energy and Commerce. By Mr. QUIGLEY (for himself, Mr. McCaul, Mr. Bacon, Ms. Titus, and Mr. Garamendi), H3534 [28MY] H. Res. 1265 — A resolution expressing support for the designation of May 2024 as ‘‘Renewable Fuels Month’’ to recognize the important role that renewable fuels play in reducing carbon impacts, lowering fuel prices for consumers, supporting rural communities, and lessening reliance on foreign adversaries; to the Committee on Energy and Commerce. By Mr. NUNN of Iowa (for himself, Ms. Craig, and Mrs. Hinson), H3542 [31MY] Cosponsors added, H3676 [5JN] H. Res. 1266 — A resolution condemning the attack on the Argentine Jewish Mutual Association Jewish Community Center in Buenos Aires, Argentina, in July 1994 and encouraging accountability for the attack; to the Committee on Foreign Affairs. By Ms. WASSERMAN SCHULTZ (for herself, Mr. Diaz-Balart, Mr. Espaillat, and Mr. Tony Gonzales of Texas), H3542 [31MY] Cosponsors added, H3583 [3JN], H3682 [7JN] H. Res. 1267 — A resolution supporting the Second Amendment’s guarantee that the right of the people to keep and bear arms shall not be infringed, and opposing the Biden administration’s efforts to undermine that guarantee at every opportunity; to the Committee on the Judiciary, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WILLIAMS of Texas (for himself, Mr. Biggs, Mr. Donalds, Mrs. Harshbarger, Mr. Hudson, Mr. Weber of Texas, Ms. Boebert, Mr. Cline, Mr. Van Drew, Mr. Norman, Mr. Fry, Mr. Walberg, Mr. Crenshaw, Mr. Moore of Alabama, Mrs. Lesko, Mr. Moolenaar, Mrs. Miller of West Virginia, and Mr. Pence), H3542 [31MY] Cosponsors added, H3676 [5JN] H. Res. 1268 — A resolution expressing support for the designation of the week of June 2 through June 8, 2024, as ‘‘National Trailer Safety Week’’ in the United States, and supporting the goals and ideals of National Trailer Safety Week to educate American motorists about the importance of proper towing techniques and maintenance; to the Committee on Transportation and Infrastructure. By Mr. YAKYM (for himself, Mr. Garamendi, Mr. Burchett, and Mr. Bishop of Georgia), H3581 [3JN] Cosponsors added, H3728 [11JN] H. Res. 1269 — A resolution providing for consideration of the bill (H.R. 8580) making appropriations for military construction, the Dept. of Veterans Affairs, and related agencies for the fiscal year ending September 30, 2025, and for other purposes, and providing for consideration of the bill (H.R. 8282) to impose sanctions with respect to the International Criminal Court engaged in any effort to investigate, arrest, detain, or prosecute any detected person of the United States and its allies . By Mr. RESCHENTHALER, H3581 [3JN] Reported (H. Rept. 118–535), H3581 [3JN] Debated, H3587 [4JN] Text, H3587 [4JN] Amendments, H3594 [4JN] Agreed to in the House, H3594 [4JN] H. Res. 1270 — A resolution supporting the designation of June, as ‘‘Brain and Spine Metastasis Awareness Month’’; to the Committee on Energy and Commerce. By Mrs. FOUSHEE, H3581 [3JN] Cosponsors added, H3728 [11JN], H3976 [12JN] H. Res. 1271 — A resolution expressing support for the designation of June 7, 2024, as ‘‘National Gun Violence Awareness Day’’ and June 2024 as ‘‘National Gun Violence Awareness Month’’; to the Committee on the Judiciary. By Ms. KELLY of Illinois (for herself, Ms. Norton, Ms. Williams of Georgia, Ms. Tokuda, Mr. Espaillat, Ms. Kamlager-Dove, Ms. Stevens, Mrs. McBath, Ms. Jackson Lee, Ms. McCollum, Mr. Davis of Illinois, Mrs. Napolitano, Ms. McClellan, Mr. Quigley, Mr. Johnson of Georgia, Mr. Pascrell, Ms. Blunt Rochester, Ms. Schakowsky, Mr. Neguse, Mr. Costa, Ms. Porter, Ms. Sewell, Ms. Titus, Mr. Goldman of New York, Ms. Bonamici, Mr. Peters, Mr. McGarvey, Ms. Brownley, Mrs. Dingell, Mr. McGovern, Mr. Frost, Ms. Barragán, Mr. Evans, Mr. Lynch, Mr. Raskin, Ms. Moore of Wisconsin, Mrs. Beatty, Mr. Thompson of California, Mrs. Ramirez, Mrs. Watson Coleman, Mr. Grijalva, Mr. Garamendi, Mr. Nadler, Ms. Davids of Kansas, Mr. Horsford, Ms. Garcia of Texas, Mrs. Fletcher, Mr. Moulton, Ms. Velázquez, Mr. Cleaver, Ms. Clarke of New York, Ms. Wilson of Florida, Ms. Balint, Ms. Scanlon, Ms. Lee of California, Mr. Case, Mr. Boyle of Pennsylvania, Mr. Mr van, Ms. Lee of Nevada, Mr. Pallone, Mrs. Foushee, Mr. Auchincloss, Ms. Kuster, Mr. Carson, Mr. Swalwell, Ms. Castor of Florida, Mr. DeSaulnier, Mr. García of Illinois, Mr. Amo, Mr. Lieu, Mr. Morelle, Mrs. Hayes, Ms. Meng, Mr. Casten, Mr. Carter of Louisiana, Mr. Crow, Ms. Dean of Pennsylvania, Mr. Green of Texas, and Ms. Adams), H3581 [3JN] Cosponsors added, H3728 [11JN] H. Res. 1272 — A resolution calling on the Biden Administration to pursue censure of Iran at the International Atomic Energy Agency (IAEA), refer the issue to the United Nations Security Council, and reaffirm that all measures will be taken to prevent the regime in Iran from acquiring nuclear weapons; to the Committee on Foreign Affairs. By Mr. LAWLER (for himself, Mr. Moskowitz, Mr. James, Ms. Tenney, Mr. Ciscomani, Mrs. Kim of California, Mr. Nunn of Iowa, and Mr. Gottheimer), H3581 [3JN] Cosponsors added, H3657 [4JN], H3728 [11JN] H. Res. 1273 — A resolution designating a day in May 2024, as ‘‘Disability Reproductive Equity Day’’; to the Committee on Energy and Commerce. By Ms. PRESSLEY (for herself, Ms. Crockett, Ms. Norton, Mrs. Watson Coleman, Mr. McGovern, Ms. Escobar, Mr. Bowman, Mrs. Ramirez, Mr. Smith of Washington, Ms. Dean of Pennsylvania, and Mr. Frost), H3582 [3JN] H. Res. 1274 — A resolution responding to the promulgation of the Safeguarding National Security Ordinance, under Article 23 of the Basic Law, by the Hong Kong Special Administrative Region Government on March 19, 2024; to the Committee on Foreign Affairs. By Mr. SCHIFF (for himself, Mr. Bilirakis, Mr. McGovern, Mr. Carson, and Ms. Norton), H3582 [3JN] H. Res. 1275 — A resolution electing Members to certain standing committees of the House of Representatives. By Mrs. McCLAIN, H3655 [4JN] Agreed to in the House, H3639 [4JN] Text, H3639 [4JN] H. Res. 1276 — A resolution electing Members to certain standing committees of the House of Representatives. By Mr. AGUILAR, H3655 [4JN] Agreed to in the House, H3639 [4JN] Text, H3639 [4JN] H. Res. 1277 — A resolution responding to the promulgation of the Safeguarding National Security Ordinance, under Article 23 of the Basic Law, by the Hong Kong Special Administrative Region Government on March 19, 2024; to the Committee on Foreign Affairs. By Mr. SCHIFF, H3655 [4JN] H. Res. 1278 — A resolution affirming the importance of the survival of Garifuna culture and identity, condemning the violent and illegal appropriation of Garifuna territory, urging the Department of State and multilateral development banks to respect the rights of the Garifuna people, and calling on the Government of Honduras to fully comply with the resolutions of multilateral human rights bodies which mandate the return of Garifuna land and territory, and for other purposes; to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Ms. BUSH (for herself, Mr. Bowman, Mr. García of Illinois, Ms. Omar, and Ms. Schakowsky), H3674 [5JN] Cosponsors added, H3728 [11JN] H. Res. 1279 — A resolution expressing support for the designation of June 2024 as ‘‘Black Music Month’’; to the Committee on Education and the Workforce. By Ms. BROWN (for herself, Mr. Carson, Mr. Meeks, Mr. Amo, Ms. Balint, Mrs. Beatty, Ms. Blunt Rochester, Mr. Carter of Louisiana, Mr. Cohen, Ms. Crockett, Mr. Clyburn, Mr. Davis of North Carolina, Mrs. Dingell, Mr. Espaillat, Mrs. Foushee, Mr. Frost, Mr. Grijalva, Mr. Horsford, Mr. Ivey, Ms. Jackson Lee, Ms. Jacobs, Mr. Johnson of Georgia, Ms. Kaptur, Ms. Kelly of Illinois, Mr. Landsman, Ms. Lee of California, Mrs. McBath, Ms. McClellan, Mr. Mfume, Ms. Moore of Wisconsin, Mr. Nadler, Ms. Norton, Ms. Omar, Mrs. Ramirez, Ms. Sewell, Mr. Soto, Ms. Stansbury, Ms. Strickland, Mrs. Sykes, Mr. Thanedar, Mr. Thompson of Mississippi, Mrs. Torres of California, Mrs. Watson Coleman, Ms. Williams of Georgia, and Ms. Wilson of Florida), H3674 [5JN] Cosponsors added, H3682 [7JN], H3976 [12JN], H4110 [14JN], H4116 [18JN] H. Res. 1280 — A resolution commending the University of South Alabama on the occasion of its 60th anniversary and its years of service to the State of Alabama and the United States; to the Committee on Education and the Workforce. By Mr. CARL (for himself, Mr. Moore of Alabama, Mr. Rogers of Alabama, Mr. Aderholt, Mr. Strong, Mr. Palmer, and Ms. Sewell), H3680 [7JN] H. Res. 1281 — A resolution celebrating the 100th anniversary of the Upper Mississippi River National Wildlife and Fish Refuge; to the Committee on Natural Resources. By Mrs. HINSON (for herself, Mr. Sorensen, Mr. Van Orden, Mr. LaHood, Mrs. Miller-Meeks, and Mr. Finstad), H3680 [7JN] H. Res. 1282 — A resolution providing for consideration of the bill (H.R. 3018) to authorize the issuance of extreme risk protection orders; to the Committee on Rules. By Mrs. McBATH, H3680 [7JN] H. Res. 1283 — A resolution supporting the designation of June 6, 2024, as National Naloxone Awareness Day; to the Committee on Energy and Commerce. By Mrs. McCLAIN (for herself, Mr. Trone, Ms. Kuster, Mr. Pappas, Ms. Pettersen, Ms. Craig, and Mr. Fitzpatrick), H3680 [7JN] H. Res. 1284 — A resolution expressing gratitude and appreciation for the bravery and valor of the Allied forces who participated in the Normandy landings on the 80th anniversary of Operation Overlord; to the Committee on Armed Services, and in addition to the Committees on Veterans’ Affairs, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mrs. MILLER-MEEKS (for herself and Ms. Sherrill), H3680 [7JN] H. Res. 1285 — A resolution condemning the pro-abortion policies of the Biden administration; to the Committee on Energy and Commerce. By Mr. MORAN (for himself, Mr. Smith of New Jersey, Mr. Biggs, Mr. Banks, Mr. Duncan, Mr. Babin, Mr. Guest, Mr. Palmer, Mr. Fleischmann, Mr. Mooney, Mrs. Bice, Mrs. Miller of Illinois, Mr. Gosar, Mr. Weber of Texas, Ms. Boebert, Mr. Pfluger, Mr. Crenshaw, Mr. Moore of Alabama, Mr. Fulcher, Mr. Kustoff, Mr. Gooden of Texas, Mr. Webster of Florida, Mr. Moolenaar, Mrs. Lesko, Mr. Aderholt, Mr. Sessions, Mr. Austin Scott of Georgia, Mr. Bilirakis, Mrs. Harshbarger, Mr. Carter of Texas, Mr. Burgess, Mr. Pence, Mr. Higgins of Louisiana, Mr. Cline, Mr. Crane, Mr. Ogles, Mr. Self, Mr. Hern, Mr. Dunn of Florida, and Ms. Foxx), H3680 [7JN] Cosponsors added, H4110 [14JN] H. Res. 1286 — A resolution supporting the role of the United States in helping save the lives of children and protecting the health of people in low-income countries with vaccines and immunization through Gavi, the Vaccine Alliance (‘‘Gavi’’); to the Committee on Foreign Affairs. By Mr. KEAN of New Jersey (for himself, Mr. Amo, Ms. Salazar, and Ms. Jacobs), H3725 [11JN] Cosponsors added, H4116 [18JN] H. Res. 1287 — A resolution providing for consideration of the bill (H.R. 8070) to authorize appropriations for fiscal year 2025 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year; relating to the consideration of House Report 118–527 and an accompanying resolution. By Mr. AUSTIN SCOTT of Georgia, H3724 [11JN] Reported (H. Rept. 118–551), H3724 [11JN] Debated, H3730 [12JN] Text, H3730 [12JN] Amendments, H3736 [12JN] Agreed to in the House, H3737 [12JN] H. Res. 1288 — A resolution condemning certain members of the intelligence community; to the Committee on House Administration. By Mr. BURCHETT, H3725 [11JN] H. Res. 1289 — A resolution recognizing the contributions of academic medicine and observing Academic Medicine Week from June 10 through 14, 2024; to the Committee on Energy and Commerce. By Ms. CASTOR of Florida (for herself and Mr. Fitzpatrick), H3725 [11JN] H. Res. 1290 — A resolution recognizing June 12, 2024, as this year’s observance of ‘‘Philippines Independence Day’’ to honor the 126th anniversary of the independence of the Philippines; to the Committee on Foreign Affairs. By Mr. MOYLAN (for himself, Mr. Scott of Virginia, Mr. Bacon, Mr. Case, Mr. Vargas, Mr. Sablan, and Mr. Issa), H3725 [11JN] Cosponsors added, H4064 [13JN], H4110 [14JN] H. Res. 1291 — A resolution electing a Member to a certain standing committee of the House of Representatives. By Mr. KILDEE, H3974 [12JN] Agreed to in the House, H3739 [12JN] Text, H3739 [12JN] H. Res. 1292 — A resolution recommending that the House of Representatives find United States Attorney General Merrick B. Garland in contempt of Congress for refusal to comply with a subpoena duly issued by the Committee on the Judiciary. By Mr. JORDAN, H3974 [12JN] Debated, H3759 [12JN] Text, H3759 [12JN] Agreed to in the House, H3970 [12JN] H. Res. 1293 — A resolution recommending that the House of Representatives find United States Attorney General Merrick B. Garland in contempt of Congress for refusal to comply with a subpoena duly issued by the Committee on Oversight and Accountability. By Mr. COMER, H3974 [12JN] Agreed to in the House (pursuante to H. Res. 1287), H3971 [12JN] Text, H3971 [12JN] H. Res. 1294 — A resolution commending the Florida Everblades hockey team for winning the 2024 East Coast Hockey League’s Patrick J. Kelly Cup; to the Committee on Oversight and Accountability. By Mr. DONALDS, H3974 [12JN] H. Res. 1295 — A resolution expressing support for the designation of Sunday, June 16, 2024, as ‘‘Father’s Day’’; to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. GOMEZ (for himself, Ms. Tlaib, Mr. Kim of New Jersey, Mr. Goldman of New York, Mr. Castro of Texas, Mr. Bowman, Mr. Neguse, Mr. Menendez, Mr. Swalwell, Mr. Gallego, Mr. Allred, Mr. Levin, Mr. Crow, Mr. Ruiz, Mr. Harder of California, Mr. Deluzio, Mr. Mullin, Mr. Boyle of Pennsylvania, Mr. Moulton, Mr. Moskowitz, Mr. Nickel, Mr. Magaziner, Mr. Auchincloss, Mr. Ryan, Mr. McGarvey, Mr. Beyer, Mr. Landsman, Mr. Lieu, Mr. Veasey, Mr. Correa, Mr. Schneider, Mr. Gottheimer, Mr. Schiff, Ms. Pettersen, Mr. Panetta, Ms. Barragán, Ms. Stansbury, Mr. Vargas, Mr. Trone, Ms. Norton, Mr. Thanedar, and Ms. Escobar), H3974 [12JN] H. Res. 1296 — A resolution expressing support for the designation of June 12, 2024, as ‘‘Women Veterans Appreciation Day’’; to the Committee on Oversight and Accountability. By Mrs. KIGGANS of Virginia (for herself, Ms. Sherrill, and Ms. Houlahan), H3974 [12JN] H. Res. 1297 — A resolution recognizing National Black Brewers Day; to the Committee on Oversight and Accountability. By Mr. HORSFORD (for himself and Ms. Williams of Georgia), H4062 [13JN] H. Res. 1298 — A resolution supporting the designation of the second Friday of June as National Service and Conservation Corps Day; to the Committee on Education and the Workforce. By Ms. HOULAHAN (for herself, Mr. Fitzpatrick, Ms. Matsui, and Mr. Graves of Louisiana), H4062 [13JN] H. Res. 1299 — A resolution reaffirming the goals and ideals of the 1994 International Conference on Population and Development Programme of Action in Cairo, Egypt, including comprehensive sexual and reproductive health and rights; to the Committee on Foreign Affairs. By Ms. LEE of California (for herself, Ms. Lois Frankel of Florida, and Ms. Meng), H4062 [13JN] H. Res. 1300 — A resolution condemning campus protest backers; to the Committee on Education and the Workforce. By Mr. PALMER (for himself, Mr. Owens, Mr. Edwards, Mr. Lamborn, Mr. Ogles, Mr. Sessions, Mr. Baird, Mr. Higgins of Louisiana, Mr. Yakym, Mr. Guest, Mrs. Lesko, Mr. Fleischmann, Ms. Tenney, Mr. Rouzer, Mr. Meuser, and Mr. Donalds), H4062 [13JN] H. Res. 1301 — A resolution expressing support for the inaugural Heart Recovery Awareness Day on February 20, 2025; to the Committee on Energy and Commerce. By Mr. MOULTON, H4108 [14JN] H. Res. 1302 — A resolution providing for consideration of the bill (H.R. 396) to regulate bump stocks in the same manner as machineguns; to the Committee on Rules. By Ms. TITUS, H4109 [14JN] H. Res. 1303 — A resolution condemning the Biden administration’s politically motivated ban on liquefied natural gas exports to non-free trade agreement countries; to the Committee on Energy and Commerce, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. WEBER of Texas (for himself, Mr. Meuser, Mrs. Bice, Mr. Cloud, Mr. Fulcher, Mr. Issa, Mr. Hudson, Mr. Self, Mr. Carter of Texas, Mr. Biggs, Mr. Higgins of Louisiana, Mr. Allen, Mr. Joyce of Pennsylvania, Mr. Guthrie, Mrs. Lesko, Mrs. Miller of Illinois, Mr. Armstrong, Mr. Bishop of North Carolina, Mr. Dunn of Florida, Mr. Fry, Mr. Kelly of Pennsylvania, Mr. Huizenga, Mr. Bacon, Mr. Estes, Mr. McCaul, Mr. Bilirakis, Mr. Duncan, Mr. Jackson of Texas, Mr. Bucshon, Mr. Baird, Mr. Rogers of Alabama, Mr. Babin, Mr. Arrington, Mr. Palmer, Mr. Nehls, Mr. Bean of Florida, Mr. Turner, Mr. Luetkemeyer, Mr. Lawler, and Mr. Scott Franklin of Florida), H4109 [14JN] Cosponsors added, H4116 [18JN] H. Res. 1304 — A resolution expressing support for the designation of June 19, 2024, as ‘‘World Sickle Cell Awareness Day’’ in order to increase public awareness across the United States and global community about sickle cell disease and the continued need for empirical research, early detection screenings, novel effective treatments leading to a cure, and preventative care programs with respect to complications from sickle cell anemia and conditions relating to sickle cell disease; to the Committee on Energy and Commerce. By Mr. DAVIS of Illinois (for himself, Mr. Burgess, Ms. Lee of California, Mr. Carter of Georgia, Mr. Blumenauer, Mr. Thanedar, Ms. Wild, Mr. Jackson of Illinois, Mr. Johnson of Georgia, Ms. Crockett, Ms. Adams, Mrs. Ramirez, Mr. Davis of North Carolina, Mr. Carson, Ms. Jackson Lee, Mr. Grijalva, Ms. Norton, and Mr. Garamendi), H4113 [18JN] H. Res. 1305 — A resolution rescinding the subpoenas issued by the January 6th Select Committee on September 23, 2021, October 6, 2021, and February 9, 2022, and withdrawing the recommendations finding Stephen K. Bannon, Mark Randall Meadows, Daniel Scavino, Jr., and Peter K. Navarro in contempt of Congress; to the Committee on Rules, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. BURLISON (for himself, Mr. Biggs, Mr. Massie, Mr. Roy, Mr. Ogles, Mr. Clyde, Mr. Gosar, Mr. Good of Virginia, Mrs. Harshbarger, Ms. Boebert, Mr. Brecheen, Mr. Higgins of Louisiana, Mrs. Miller of Illinois, Mr. Moore of Alabama, Mrs. Luna, Mr. Crane, Ms. Greene of Georgia, Mr. Banks, Mr. Cloud, Mr. Bishop of North Carolina, Mr. Rosendale, Mr. Gaetz, Mr. Davidson, and Mr. Gooden of Texas), H4113 [18JN] H. Res. 1306 — A resolution expressing support for the designation of June 21, 2024, as National ASK (Asking Saves Kids) Day to promote children’s health and safe storage of guns in the home; to the Committee on Energy and Commerce. By Mr. CROW (for himself, Mrs. McBath, Ms. McClellan, Ms. Kamlager-Dove, Mrs. Cherfilus-McCormick, Ms. Norton, Mr. Schiff, Mrs. Hayes, Ms. Brownley, Mr. Vargas, Mr. Krishnamoorthi, Mr. Goldman of New York, Ms. Kelly of Illinois, Ms. Stevens, Mr. Moulton, Mr. Raskin, Mr. Swalwell, Mr. Johnson of Georgia, and Mr. Peters), H4113 [18JN] H. Res. 1307 — A resolution expressing support for the designation of June 20, 2024, as ‘‘World FSHD Day’’; to the Committee on Energy and Commerce. By Mrs. DINGELL (for herself and Mr. Kelly of Pennsylvania), H4113 [18JN] H. Res. 1308 — A resolution recognizing June 19, 2024, as this year’s observance of the historical significance of Juneteenth Independence Day; to the Committee on Oversight and Accountability. By Ms. JACKSON LEE (for herself, Mr. Weber of Texas, Mrs. Watson Coleman, Mr. Bishop of Georgia, Mr. Lynch, Ms. Williams of Georgia, Ms. Tlaib, Mr. McGovern, Mr. Evans, Ms. Sewell, Mr. Thompson of Mississippi, Mr. Davis of Illinois, Mr. Johnson of Georgia, Mrs. Ramirez, Mr. Carter of Louisiana, Ms. Moore of Wisconsin, Mr. Swalwell, Ms. DelBene, Ms. Ocasio-Cortez, Mr. Landsman, Mr. Quigley, Ms. Dean of Pennsylvania, Mr. Cleaver, Mr. Smith of Washington, Ms. Norton, Mr. Castro of Texas, Mr. Horsford, Ms. Lee of California, Ms. Titus, Mrs. Beatty, Mr. Allred, Ms. Garcia of Texas, Ms. Brown, Ms. Velázquez, Mr. Kim of New Jersey, Mr. Green of Texas, Mr. Veasey, Mr. Torres of New York, Ms. Bush, Ms. Scanlon, Mr. Pascrell, Mr. DeSaulnier, Mr. Vargas, Ms. Sánchez, Mr. Trone, Ms. Blunt Rochester, Ms. Houlahan, Mr. Lieu, Mrs. Torres of California, Ms. Kaptur, Mr. Thanedar, Mr. Connolly, Ms. Chu, Ms. Bonamici, Mr. Cuellar, Mr. Suozzi, Ms. McCollum, Ms. Wilson of Florida, Mr. Menendez, Mr. Ivey, Ms. Kamlager-Dove, Ms. Strickland, Mr. Thompson of California, Ms. Adams, Ms. Crockett, Mr. Raskin, Mr. Carson, Mr. Schneider, Mr. Keating, Mrs. Dingell, Ms. Salinas, Mr. Phillips, Mr. Cárdenas, Mr. Meeks, Ms. Kelly of Illinois, Mrs. Fletcher, Mr. Frost, Ms. Budzinski, Mr. Mfume, Mr. Ruiz, and Ms. Davids of Kansas), H4113 [18JN] H. Res. 1309 — A resolution continuing the promise of Juneteenth: honoring, preserving, and investing in freedmen’s settlements; to the Committee on the Judiciary. By Ms. KAMLAGER-DOVE (for herself, Ms. Tlaib, Ms. Crockett, Mr. Espaillat, Mr. Jackson of Illinois, Ms. Jacobs, Mr. Johnson of Georgia, Ms. Williams of Georgia, Ms. Jackson Lee, Mr. Goldman of New York, Ms. Ocasio-Cortez, Ms. Pressley, Ms. Blunt Rochester, and Ms. Moore of Wisconsin), H4114 [18JN] H. Res. 1310 — A resolution expressing support for the designation of the month of June 2024 as ‘‘National Post-Traumatic Stress Awareness Month’’ and June 27, 2024, as ‘‘National Post-Traumatic Stress Awareness Day’’; to the Committee on Armed Services, and in addition to the Committee on Veterans’ Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. PETERS (for himself, Mr. Mast, Mr. Trone, Mr. Moulton, and Mr. Thompson of California), H4114 [18JN] H. Res. 1311 — A resolution celebrating the historic anniversary of the June 24, 2022, decision of the Supreme Court of the United States in Dobbs v. Jackson Women’s Health Organization; to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. By Mr. SMITH of New Jersey, H4114 [18JN] H. Res. 1312 — A resolution expressing support for the designation of July 2024 as Veterans Appreciation Month; to the Committee on Oversight and Accountability. By Mr. VAN DREW, H4114 [18JN]

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2024-06-24T00:12:36.152477

BILLS-118hres1298ih

Supporting the designation of the second Friday of June as National Service and Conservation Corps Day.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1298 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1298 Supporting the designation of the second Friday of June as National Service and Conservation Corps Day. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 13, 2024 Ms. Houlahan (for herself, Mr. Fitzpatrick, Ms. Matsui, and Mr. Graves of Louisiana) submitted the following resolution; which was referred to the Committee on Education and the Workforce _______________________________________________________________________ RESOLUTION Supporting the designation of the second Friday of June as National Service and Conservation Corps Day. Whereas there exists a network of National Service Programs (in this resolution referred to as ``Service and Conservation Corps'') that receive funding pursuant to subtitle C of the National and Community Service Act (42 U.S.C. 12571 et seq.); Whereas such network includes more than 150 Service and Conservation Corps across the county; Whereas these Service and Conservation Corps annually provide education, workforce development, and support services to approximately 22,000 young adults and post-9/11 veterans; Whereas today's Service and Conservation Corps are locally based organizations that engage young adults (generally ages 16 to 25) and veterans (up to age 35) in service projects that address recreation, conservation, disaster response, and community needs; Whereas these Service and Conservation Corps are direct descendants of the Civilian Conservation Corps, a Great Depression-era Federal work relief program that mobilized 3,000,000 young men to dramatically improve the Nation's public lands; Whereas Civilian Conservation Corps participants received food, shelter, education, and a $30-a-month stipend; Whereas, from 1933 to 1942, the Civilian Conservation Corps planted 3,000,000,000 trees and helped build trails, roads, campgrounds, and other park infrastructure still in use today; Whereas April 5, 2023, was the 90th anniversary of President Franklin D. Roosevelt establishing the Civilian Conservation Corps with a Presidential Executive order; Whereas, unlike the Civilian Conservation Corps, which was a large, Federal program that was only open to young men and Black and Native American participants faced discrimination, modern Service and Conservation Corps are equitable, diverse, and inclusive; Whereas, also, most modern Service and Conservation Corps are nonprofits or are operated by units of State or local government; Whereas, through public-private partnerships, Service and Conservation Corps work with a range of organizations, government agencies, and institutions to engage Corpsmembers in meaningful projects that address local and national issues; Whereas, through a term of service that could last from a few months to a year, Corpsmembers experience the ``Corps Model'', where they gain work experience and develop in-demand skills; Whereas Corpsmembers are compensated with a stipend or living allowance and often receive an education award or scholarship upon completing their service; Whereas, additionally, Corps provide participants with educational programming, mentoring, and access to career and personal counseling, and some Corps operate or partner with charter schools to help participants earn their high school diploma or GED; Whereas Corpsmembers complete thousands of community improvement, resilience, and resource conservation projects every year; Whereas Corpsmembers typically serve on crews alongside other young adults, or in ``individual placement'' or internship positions that provide additional capacity to Federal, State, and local resource management agencies; Whereas Service and Conservation Corps have longstanding partnerships with Federal, State, and local community development and resource management agencies to engage Corpsmembers in meaningful and necessary projects across the country; Whereas Service and Conservation Corps projects include-- (1) the enhancement of neighborhoods and community public spaces, including urban gardens; (2) the preservation and protection of public lands, shorelines, waterways, habitat, and wildlife; (3) the preservation of historic structures; (4) providing access to and the enhancement of recreation on public lands and waters; (5) enhancing resilience to climate change and natural disasters; (6) mitigation, response to, and recovery from natural disasters, including hurricanes and wildfire; (7) improving energy efficiency and resource conservation; and (8) building and maintaining alternative transportation and sustainable infrastructure; Whereas, during the COVID-19 pandemic, the fact that Service and Conservation Corps are part of their communities enabled them to quickly provide needed support to their communities; Whereas the United States urgently needs to transition to more sustainable infrastructure, respond to decades of deferred maintenance on public lands and waters, restore critical ecosystems, and make its communities more resilient to climate change; Whereas the United States also has millions of young people facing unemployment and barriers to opportunity, and these challenges are disproportionately affecting young people of color; and Whereas the existing network of more than 150 Service and Conservation Corps are ready to meet the needs of these young Americans: Now, therefore, be it Resolved, That the House of Representatives-- (1) supports the designation of a National Service and Conservation Day; (2) congratulates the existing network of more than 150 Service and Conservation Corps on their contributions to the United States; (3) urges the citizens of the United States to recognize the importance of national service; and (4) supports the continuation and expansion of the national network of Service and Conservation Corps under the National and Community Service Act (42 U.S.C. 12501 et seq.). <all>

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2024-06-24T00:12:36.430218

BILLS-118hres1297ih

Recognizing National Black Brewers Day.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1297 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1297 Recognizing National Black Brewers Day. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 13, 2024 Mr. Horsford (for himself and Ms. Williams of Georgia) submitted the following resolution; which was referred to the Committee on Oversight and Accountability _______________________________________________________________________ RESOLUTION Recognizing National Black Brewers Day. Whereas the Congressional Black Caucus understands that the rich tapestry of the Nation is woven with the vibrant threads of diversity; Whereas throughout history, African Americans have made significant contributions to the culture, economy, and social fabric of the Nation, and have played an integral role in shaping the brewing industry; Whereas the craft beer industry has experienced remarkable growth and innovation, and African American brewers have emerged as talented artisans, creating unique and exceptional brews that showcase their passion, creativity, and dedication; Whereas, on October 10, 1970, Theodore A. (Ted) Mack, Sr. and business associates celebrated the purchase of Peoples Brewing Company in Oshkosh, Wisconsin, with over 2,000 guests, including stockholders, local and state legislators, and notable dignitaries; Whereas Mr. Mack became the first Black brewery president in the United States, and Peoples Brewing Company became the first Black-owned brewery in the history of the United States; Whereas the National Black Brewers Association was formed as a non-profit organization in 2022 to support, promote, and develop the black brewing community; Whereas it is essential to recognize and celebrate the achievements and contributions of Black brewers who have overcome challenges and barriers to establish themselves as pillars of the craft beer community, inspiring others, and breaking down barriers of racial inequality; Whereas the establishment of National Black Brewers Day provides an opportunity for people in the United States to acknowledge, honor, and support the accomplishments of Black brewers, to raise awareness about the diversity within the brewing industry, and to foster a spirit of inclusion and equality; and Whereas celebrating National Black Brewers Day will encourage individuals and communities to discover and appreciate the exceptional craftsmanship and unique flavors that Black brewers bring to the brewing industry: Now, therefore, be it Resolved, That the House of Representatives-- (1) encourages Congress, the President of the United States, and individual States to recognize National Black Brewers Day; and (2) that a copy of this resolution be transmitted to the President of the United States, the Vice President of the United States, members of the United States House of Representatives and the United States Senate, and other Federal and State government officials as appropriate. <all>

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2024-06-24T00:12:36.566468

BILLS-118hres1300ih

Condemning campus protest backers.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1300 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1300 Condemning campus protest backers. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 13, 2024 Mr. Palmer (for himself, Mr. Owens, Mr. Edwards, Mr. Lamborn, Mr. Ogles, Mr. Sessions, Mr. Baird, Mr. Higgins of Louisiana, Mr. Yakym, Mr. Guest, Mrs. Lesko, Mr. Fleischmann, Ms. Tenney, Mr. Rouzer, Mr. Meuser, and Mr. Donalds) submitted the following resolution; which was referred to the Committee on Education and the Workforce _______________________________________________________________________ RESOLUTION Condemning campus protest backers. Whereas violent protesters have taken over dozens of spaces on college campuses across the country, impacting the education of thousands of tuition- paying students; Whereas these protesters have called for ``Death to America'' and ``Death to Israel'', a United States ally; Whereas these protesters have threatened and targeted other students with racist and antisemitic rhetoric and blocked students from attending their classes; Whereas protesters have torn down and desecrated flags of the United States and replaced them with Palestinian flags; Whereas Hamas, a radically violent terrorist organization responsible for countless murders and rapes, runs the Palestinian Government; Whereas terrorist groups in Iran have praised and shown solidarity with these protesters; Whereas protesters at George Washington University defaced and desecrated a statue of its namesake, the first President of the United States, and a former professor of the school sympathetic to the protesters accosted a Member of this body with racist language; Whereas protesters at Columbia University took over and occupied a campus building, requiring the New York Police Department to restore order; Whereas, at Columbia University and the University of Southern California, protester behavior forced the cancellation of commencement ceremonies for graduating students; Whereas these protests have been funded and organized by leftist groups like Students for Justice in Palestine, IfNotNow, and Within Our Lifetime, all of which received funding from George Soros; Whereas Students for Justice in Palestine called the deadly attacks on Israeli civilians on October 7, 2023, a ``historic win''; and Whereas David Rockefeller, Jr., and the Rockefeller Brothers Fund gave to Jewish Voice for Peace, which blames the October 7 attacks on Israel and the United States rather than Hamas: Now, therefore, be it Resolved, That the House of Representatives-- (1) condemns the anarchy and insurrection taking place on college campuses as well as the groups organizing it; (2) condemns George Soros and all those who are funding the groups behind these protests; (3) calls on all politicians and political parties of all ideologies to refuse to accept any contributions for any purpose from organizations and entities funding anti-American and antisemitic demonstrations; and (4) calls for a full investigation of all foreign adversaries engaged in promoting and provoking campus and public unrest. <all>

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2024-06-24T00:12:36.637381

BILLS-118hres1299ih

Reaffirming the goals and ideals of the 1994 International Conference on Population and Development Programme of Action in Cairo, Egypt, including comprehensive sexual and reproductive health and rights.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H. Res. 1299 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. RES. 1299 Reaffirming the goals and ideals of the 1994 International Conference on Population and Development Programme of Action in Cairo, Egypt, including comprehensive sexual and reproductive health and rights. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 13, 2024 Ms. Lee of California (for herself, Ms. Lois Frankel of Florida, and Ms. Meng) submitted the following resolution; which was referred to the Committee on Foreign Affairs _______________________________________________________________________ RESOLUTION Reaffirming the goals and ideals of the 1994 International Conference on Population and Development Programme of Action in Cairo, Egypt, including comprehensive sexual and reproductive health and rights. Whereas the United States played a central role in the creation of the United Nations in 1945 following World War II to promote international cooperation; Whereas the United States encouraged the establishment of the United Nations Population Fund (in this resolution referred to as ``UNFPA'') in 1969 and continues to serve on the Executive Board of the UNFPA; Whereas the International Conference on Population and Development (in this resolution referred to as ``ICPD''), which was attended by officials from the Executive Office of the President, Congress, and United States civil society and private sector organizations, was convened by the UNFPA and the Population Division of the United Nations Department for Economic and Social Information and Policy Analysis in Cairo from September 5 to September 13, 1994, for the purpose of addressing critical issues regarding population, development, and human rights; Whereas the resulting ICPD Programme of Action, to which the United States is a signatory, asserts that the focus of development policy must be the human rights and dignity of individuals and the improvement of individual lives, measured by progress in addressing inequalities; Whereas civil society played an indispensable role in shaping and executing the ICPD Programme of Action and continues to do so today; Whereas, since the adoption of the ICPD Programme of Action in 1994, significant progress has been made towards universal access to sexual and reproductive health and rights, including-- (1) a global increase in voluntary access to modern contraception by 25 percent; (2) a decline in the number of deaths due to unsafe abortion from 69,000 in 1990 to 22,800 in 2014, due to liberalization of abortion laws and increased access to safe, and effective methods of abortion across the globe; (3) a decrease in maternal deaths by 34 percent globally; and (4) enhanced access to medical advances such as the development of antiretroviral therapies, which 29,800,000 people living with HIV accessed in 2022, contributing to significant decreases in HIV acquisition and transmission; Whereas gaps and challenges in achieving the goals of the ICPD Programme of Action remain as progress has been unequal and fragmented and new challenges have emerged, such as-- (1) 218,000,000 women worldwide who still have unmet contraceptive needs; (2) 287,000 women who still die annually from complications during pregnancy and childbirth globally, nearly all of which are preventable and 1 out of 4 of which could be prevented by access to contraception. The reduction in maternal mortality has stalled in 133 countries and there was an increase in maternal mortality in 17 countries from 2016-2020; (3) up to 11 percent of maternal deaths that can be attributed to unsafe abortion; (4) more than 1,000,000 STIs that are-- G (A) acquired worldwide every day because access to education about STIs and STI testing is not universally available due to a lack of trained personnel, comprehensive sexual education, laboratory capacity, and medicines; G (B) too often untreated, as an estimated 133,000,000 women of reproductive age in low-middle income countries need but do not receive treatment for 1 of the 4 major curable STIs, chlamydia, gonorrhea, syphilis, or trichomoniasis; and G (C) exacerbated by the separation of STI services from other services, such as primary health care or family planning; (5) People living with HIV or at risk of HIV transmission, including the-- G (A) 1,700,000 people who became newly infected with HIV in 2022, 54 percent of which are among key populations and their sexual partners where the risk of acquiring HIV is 22 times higher among men who have sex with men, 22 times higher among people who inject drugs, 21 times higher for sex workers, and 12 times higher for transgender people; and G (B) adolescent girls and young women (ages 15-24) who are at a higher risk of becoming infected with HIV and who account for 4 out of 5 new infections among adolescents (aged 15-19) in sub- Saharan Africa; (6) 35 percent of women worldwide who have experienced physical or sexual intimate partner violence or sexual violence, or sexual violence by a non-partner at some point in their lives, a vulnerability that may increase as a result of characteristics such as sexual orientation, disability status, HIV status, and pregnancy, or contextual factors, such as humanitarian crises and conflict; and (7) 48,000,000 women and girls of reproductive age who are in need of humanitarian assistance; Whereas the ICPD Programme of Action and other international human rights standards recognize that access to evidence-based, comprehensive sexual and reproductive health care, including abortion, is an essential human right, and that ending gender-based violence and the prevention and treatment of HIV are key priorities to advancing sexual and reproductive health and rights for all people, and attaining the ICPD Programme of Action milestones and the Sustainable Development Goals; Whereas the ICPD Programme of Action called for the right of all people to have a satisfying and safe sex life and that they have the capability to reproduce and the freedom to decide if, when, and how often to do so; Whereas the ICPD Programme of Action called for the right of all people to be informed and to have access to safe, effective, affordable and acceptable methods of family planning of their choice, free of coercion, violence, misinformation, and discrimination; Whereas the ICPD called on governments to commit themselves at the highest political level to achieving the goals and objectives of the Programme of Action and to take a leading role in coordinating the implementation, monitoring, and evaluation of follow-up actions; Whereas the General Assembly of the United Nations endorsed the ICPD Programme of Action in 1995, affirmed that governments should commit themselves to the goals and objectives of the Programme of Action, and called upon all governments to give the widest possible dissemination of the Programme of Action and seek public support for the goals, objectives, and actions of the Programme of Action; Whereas 400 youth delegates from 60 countries, including the United States, met for the ICPD30 Global Youth Dialogue in Cotonou, Benin on April 4-5, 2024, to reaffirm the pivotal and active role young people in every corner of the world have played in promoting, protecting and delivering the ICPD Programme of Action and through the resulting Cotonou Youth Action Agenda, called on all United Nations Member States, duty bearers, and stakeholders to implement, resource and institutionalize global commitments which provide youth-centered, accessible, safe, gender- responsive, quality sexual and reproductive health services and supplies within universal health coverage programmes, including menstrual health management, the full range of modern contraceptives, comprehensive abortion care services, HIV services, and self-managed care; Whereas Members of Parliament from all regions of the world, with presence from the House of Representatives, met in Oslo, Norway, on April 10-12, 2024, for the eighth International Parliamentarians' Conference on the Implementation (in this resolution referred to as ``IPCI'') of the International Conference on Population and Development and through the resulting Oslo Statement of Commitment, members expressed deep concern about the global backlash against the sexual and reproductive health and rights agenda that has been observed in multiple countries, including the lack of agency for women and girls, which deepens social inequalities and undermines human rights, democracy, gender equality, and the collective efforts to build more inclusive and resilient societies; Whereas in its 2024 State of the World Population Report, UNFPA reviewed progress in achieving the ICPD Programme of Action, indicating that significant progress has been made, but entrenched inequalities deprive millions from fundamental sexual and reproductive health and rights; Whereas the inability of the world to reach the most marginalized is largely due to unwillingness to confront the legacies of gender inequality, racial discrimination, and misinformation that underlie health systems; Whereas the United States government, in its Statement at UN Commission on Population and Development's 57th Annual Session on April 30, 2024, affirmed that reproductive rights are central to an inclusive, thriving society, that seeking to achieve these rights unequivocally transforms the lives of women and girls, in all of their diversity, around the world, for the better; and Whereas the Blueprint for Sexual and Reproductive Health, Rights and Justice calls on the United States government to mark the 30th anniversary of ICPD with a high level event that recommits the United States government to the ICPD Program of Action and delivers sexual and reproductive health and rights for all through both rhetoric and action on programs, policy, and funding: Now, therefore, be it Resolved, That the House of Representatives-- (1) commends the notable progress made in achieving the goals set in 1994 at the ICPD and the follow up and outcomes of subsequent review conferences; (2) recommits to the achievement of the goals; (3) champions the right to bodily autonomy and self- determination for all; (4) recognizes that sexual and reproductive health and rights, including safe abortion, are human rights, and that sexual and reproductive health and rights are a precondition for the empowerment of women, gender equality, and the well- being and prosperity of all people; (5) commits to advocating for and providing comprehensive and factual information and a full range of sexual and reproductive health care services which are accessible, affordable, acceptable, of good quality and convenient to all users; (6) acknowledges that without a clear commitment to a human rights-based approach to development, reproductive health, and gender equality, it will not be possible to meet the goals of either the ICPD or the Sustainable Development Goals; (7) acknowledges and condemns the recent backsliding that-- (A) has occurred domestically and the egregious impact it has had globally, particularly regarding abortion access and the rights of the LGBTQIA+ community; and (B) is contrary to evidence-based health practices and established human rights norms and could set back the progress made on reducing unsafe abortions, reducing maternal mortality, and reducing stigma against treatment for HIV/AIDS; (8) accepts the responsibility of the United States, as the largest funder of global health, to uphold the goals of ICPD and set a global example through United States funding and policies, which affirmatively advance Federal development commitments and the realization of human rights; (9) supports the urgent need to scale up funding for bilateral international family planning and reproductive health programs and the United States contribution to UNFPA, which have been flat funded for 14 years, and to permanently end harmful policies like the global gag rule and Helms Amendment, which undermine global access to comprehensive health care information and services and the ability to achieve the vision laid out in the ICPD Programme of Action; (10) opposes and condemns reproductive coercion in all forms, consistent with the 1994 ICPD Programme of Action, including-- (A) the use of incentives or disincentives to lower or raise fertility; (B) the use of incentives or targets for uptake of specific contraceptive methods; (C) withholding of information on reproductive health options; and (D) forced abortion, forced sterilization, and forced pregnancy; and (11) calls on the administration to fully implement the National Strategy on Gender Equity and Equality, including the strategic priority to ``Protect, Improve, and Expand Access to Health Care, including Sexual and Reproductive Health Care''. <all>

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2024-06-24T00:12:36.732801

BILLS-118hjres167ih

Disapproving the rule submitted by the Department of Agriculture relating to Use of Electronic Identification Eartags as Official Identification in Cattle and Bison.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.J. Res. 167 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. J. RES. 167 Disapproving the rule submitted by the Department of Agriculture relating to ``Use of Electronic Identification Eartags as Official Identification in Cattle and Bison''. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 13, 2024 Ms. Hageman (for herself, Mr. Armstrong, Mr. Biggs, Ms. Boebert, Mr. Brecheen, Mr. Crane, Mr. Donalds, Mr. Gosar, Ms. Maloy, Mr. Massie, Mr. Ogles, Mrs. Rodgers of Washington, Mr. Rosendale, Mr. Smith of Missouri, and Mrs. Spartz) submitted the following joint resolution; which was referred to the Committee on Agriculture _______________________________________________________________________ JOINT RESOLUTION Disapproving the rule submitted by the Department of Agriculture relating to ``Use of Electronic Identification Eartags as Official Identification in Cattle and Bison''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the rule submitted by the Department of Agriculture relating to ``Use of Electronic Identification Eartags as Official Identification in Cattle and Bison'' published in the Federal Register on May 9, 2024 (89 Fed. Reg. 39540 et seq.), and such rule shall have no force or effect. <all>

usgpo

2024-06-24T00:12:36.840931

CFR-2024-title12-vol2

Banks and Banking

[Title 12 CFR ] [Code of Federal Regulations (annual edition) - January 1, 2024 Edition] [From the U.S. Government Publishing Office] [[Page 1]] Title 12 Banks and Banking ________________________ Parts 200 to 219 Revised as of January 1, 2024 Containing a codification of documents of general applicability and future effect As of January 1, 2024 Published by the Office of the Federal Register National Archives and Records Administration as a Special Edition of the Federal Register [[Page ii]] U.S. GOVERNMENT OFFICIAL EDITION NOTICE Legal Status and Use of Seals and Logos The seal of the National Archives and Records Administration (NARA) authenticates the Code of Federal Regulations (CFR) as the official codification of Federal regulations established under the Federal Register Act. Under the provisions of 44 U.S.C. 1507, the contents of the CFR, a special edition of the Federal Register, shall be judicially noticed. The CFR is prima facie evidence of the original documents published in the Federal Register (44 U.S.C. 1510). It is prohibited to use NARA's official seal and the stylized Code of Federal Regulations logo on any republication of this material without the express, written permission of the Archivist of the United States or the Archivist's designee. Any person using NARA's official seals and logos in a manner inconsistent with the provisions of 36 CFR part 1200 is subject to the penalties specified in 18 U.S.C. 506, 701, and 1017. Use of ISBN Prefix This is the Official U.S. Government edition of this publication and is herein identified to certify its authenticity. Use of the 0-16 ISBN prefix is for U.S. Government Publishing Office Official Editions only. The Superintendent of Documents of the U.S. Government Publishing Office requests that any reprinted edition clearly be labeled as a copy of the authentic work with a new ISBN. U . S . G O V E R N M E N T P U B L I S H I N G O F F I C E ------------------------------------------------------------------ U.S. Superintendent of Documents Washington, DC 20402-0001 http://bookstore.gpo.gov Phone: toll-free (866) 512-1800; DC area (202) 512-1800 [[Page iii]] Table of Contents Page Explanation................................................. v Title 12: Chapter II--Federal Reserve System 3 Finding Aids: Table of CFR Titles and Chapters........................ 681 Alphabetical List of Agencies Appearing in the CFR...... 701 List of CFR Sections Affected........................... 711 [[Page iv]] ---------------------------- Cite this Code: CFR To cite the regulations in this volume use title, part and section number. Thus, 12 CFR 201.1 refers to title 12, part 201, section 1. ---------------------------- [[Page v]] EXPLANATION The Code of Federal Regulations is a codification of the general and permanent rules published in the Federal Register by the Executive departments and agencies of the Federal Government. The Code is divided into 50 titles which represent broad areas subject to Federal regulation. Each title is divided into chapters which usually bear the name of the issuing agency. Each chapter is further subdivided into parts covering specific regulatory areas. Each volume of the Code is revised at least once each calendar year and issued on a quarterly basis approximately as follows: Title 1 through Title 16.................................as of January 1 Title 17 through Title 27..................................as of April 1 Title 28 through Title 41...................................as of July 1 Title 42 through Title 50................................as of October 1 The appropriate revision date is printed on the cover of each volume. LEGAL STATUS The contents of the Federal Register are required to be judicially noticed (44 U.S.C. 1507). The Code of Federal Regulations is prima facie evidence of the text of the original documents (44 U.S.C. 1510). HOW TO USE THE CODE OF FEDERAL REGULATIONS The Code of Federal Regulations is kept up to date by the individual issues of the Federal Register. These two publications must be used together to determine the latest version of any given rule. To determine whether a Code volume has been amended since its revision date (in this case, January 1, 2024), consult the ``List of CFR Sections Affected (LSA),'' which is issued monthly, and the ``Cumulative List of Parts Affected,'' which appears in the Reader Aids section of the daily Federal Register. These two lists will identify the Federal Register page number of the latest amendment of any given rule. EFFECTIVE AND EXPIRATION DATES Each volume of the Code contains amendments published in the Federal Register since the last revision of that volume of the Code. Source citations for the regulations are referred to by volume number and page number of the Federal Register and date of publication. Publication dates and effective dates are usually not the same and care must be exercised by the user in determining the actual effective date. In instances where the effective date is beyond the cut-off date for the Code a note has been inserted to reflect the future effective date. In those instances where a regulation published in the Federal Register states a date certain for expiration, an appropriate note will be inserted following the text. OMB CONTROL NUMBERS The Paperwork Reduction Act of 1980 (Pub. L. 96-511) requires Federal agencies to display an OMB control number with their information collection request. [[Page vi]] Many agencies have begun publishing numerous OMB control numbers as amendments to existing regulations in the CFR. These OMB numbers are placed as close as possible to the applicable recordkeeping or reporting requirements. PAST PROVISIONS OF THE CODE Provisions of the Code that are no longer in force and effect as of the revision date stated on the cover of each volume are not carried. Code users may find the text of provisions in effect on any given date in the past by using the appropriate List of CFR Sections Affected (LSA). For the convenience of the reader, a ``List of CFR Sections Affected'' is published at the end of each CFR volume. For changes to the Code prior to the LSA listings at the end of the volume, consult previous annual editions of the LSA. For changes to the Code prior to 2001, consult the List of CFR Sections Affected compilations, published for 1949-1963, 1964-1972, 1973-1985, and 1986-2000. ``[RESERVED]'' TERMINOLOGY The term ``[Reserved]'' is used as a place holder within the Code of Federal Regulations. An agency may add regulatory information at a ``[Reserved]'' location at any time. Occasionally ``[Reserved]'' is used editorially to indicate that a portion of the CFR was left vacant and not dropped in error. INCORPORATION BY REFERENCE What is incorporation by reference? Incorporation by reference was established by statute and allows Federal agencies to meet the requirement to publish regulations in the Federal Register by referring to materials already published elsewhere. For an incorporation to be valid, the Director of the Federal Register must approve it. The legal effect of incorporation by reference is that the material is treated as if it were published in full in the Federal Register (5 U.S.C. 552(a)). This material, like any other properly issued regulation, has the force of law. What is a proper incorporation by reference? The Director of the Federal Register will approve an incorporation by reference only when the requirements of 1 CFR part 51 are met. Some of the elements on which approval is based are: (a) The incorporation will substantially reduce the volume of material published in the Federal Register. (b) The matter incorporated is in fact available to the extent necessary to afford fairness and uniformity in the administrative process. (c) The incorporating document is drafted and submitted for publication in accordance with 1 CFR part 51. What if the material incorporated by reference cannot be found? 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Connect to NARA's website at www.archives.gov/federal-register. The eCFR is a regularly updated, unofficial editorial compilation of CFR material and Federal Register amendments, produced by the Office of the Federal Register and the Government Publishing Office. It is available at www.ecfr.gov. Oliver A. Potts, Director, Office of the Federal Register January 1, 2024 [[Page ix]] THIS TITLE Title 12--Banks and Banking is composed of ten volumes. The parts in these volumes are arranged in the following order: Parts 1-199, 200-219, 220-229, 230-299, 300-346, 347-599, 600-899, 900-1025, 1026-1099, and 1100-End. The contents of these volumes represent all current regulations codified under this title of the CFR as of January 1, 2024. For this volume, Gabrielle E. Burns was Chief Editor. The Code of Federal Regulations publication program is under the direction of John Hyrum Martinez, assisted by Stephen J. Frattini. [[Page 1]] TITLE 12--BANKS AND BANKING (This book contains parts 200 to 219) -------------------------------------------------------------------- Part chapter ii--Federal Reserve System.......................... 201 [[Page 3]] CHAPTER II--FEDERAL RESERVE SYSTEM -------------------------------------------------------------------- SUBCHAPTER A--BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Part Page 200 [Reserved] 201 Extensions of credit by Federal Reserve banks (Regulation A).................... 5 202 Equal Credit Opportunity Act (Regulation B). 17 203 [Reserved] 204 Reserve requirements of depository institutions (Regulation D)............. 74 205 Electronic fund transfers (Regulation E).... 108 206 Limitations on interbank liabilities (Regulation F).......................... 170 207 Disclosure and reporting of CRA-related agreements (Regulation G)............... 174 208 Membership of State banking institutions in the Federal Reserve System (Regulation H)...................................... 187 209 Federal Reserve Bank capital stock (Regulation I).......................... 259 210 Collection of checks and other items by Federal Reserve banks and funds transfers through the FEDWIRE funds service and the FEDNOW service (Regulation J).......................... 265 211 International banking operations (Regulation K)...................................... 314 212 Management official interlocks.............. 362 213 Consumer leasing (Regulation M)............. 367 214 Relations with foreign banks and bankers (Regulation N).......................... 393 215 Loans to executive officers, directors, and principal shareholders of member banks (Regulation O).......................... 395 216 [Reserved] 217 Capital adequacy of bank holding companies, savings and loan holding companies, and state member banks (Regulation Q)....... 406 218 Exceptions for banks from the definition of broker in the Securities Exchange Act of 1934 (Regulation R)..................... 660 [[Page 4]] 219 Reimbursement for providing financial records; recordkeeping requirements for certain financial records (Regulation S) 674 Supplementary Publications: The Federal Reserve Act, as amended through December 31, 1976, with an Appendix containing provisions of certain other statutes affecting the Federal Reserve System. Rules of Organization and Procedure--Board of Governors of the Federal Reserve System. Regulations of the Board of Governors of the Federal Reserve System. The Federal Reserve System--Purposes and Functions. Annual Report. Federal Reserve Bulletin. Monthly. Federal Reserve Chart Book Quarterly; Historical Chart Book issued in September. [[Page 5]] SUBCHAPTER A_BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM PART 200 [RESERVED] PART 201_EXTENSIONS OF CREDIT BY FEDERAL RESERVE BANKS (REGULATION A)--Table of Contents Sec. 201.1 Authority, purpose and scope. 201.2 Definitions. 201.3 Extensions of credit generally. 201.4 Availability and terms of credit. 201.5 Limitations on availability and assessments. 201.51 Interest rates applicable to credit extended by a Federal Reserve Bank. Interpretations 201.104 Eligibility of consumer loans and finance company paper. 201.107 Eligibility of demand paper for discount and as security for advances by Reserve Banks. 201.108 Obligations eligible as collateral for advances. 201.109 Eligibility for discount of mortgage company notes. 201.110 Goods held by persons employed by owner. Authority: 12 U.S.C. 248(i)-(j), 343 et seq., 347a, 347b, 347c, 348 et seq., 357, 374, 374a, and 461. Source: 45 FR 54010, Aug. 14, 1980, unless otherwise noted. Sec. 201.1 Authority, purpose and scope. (a) Authority. This part is issued under the authority of sections 10A, 10B, 11(i), 11(j), 13, 13A, 14(d), and 19 of the Federal Reserve Act (12 U.S.C. 248(i)-(j), 343 et seq., 347a, 347b, 347c, 348 et seq., 357, 374, 374a, and 461). (b) Purpose and scope. This part establishes rules under which a Federal Reserve Bank may extend credit to depository institutions and others. Except as otherwise provided, this part applies to United States branches and agencies of foreign banks that are subject to reserve requirements under Regulation D (12 CFR part 204) in the same manner and to the same extent as this part applies to depository institutions. The Federal Reserve System extends credit with due regard to the basic objectives of monetary policy and the maintenance of a sound and orderly financial system. [Reg. A, 67 FR 67785, Nov. 7, 2002] Sec. 201.2 Definitions. For purposes of this part, the following definitions shall apply: (a) Appropriate federal banking agency has the same meaning as in section 3 of the Federal Deposit Insurance Act (FDI Act) (12 U.S.C. 1813(q)). (b) Critically undercapitalized insured depository institution means any insured depository institution as defined in section 3 of the FDI Act (12 U.S.C. 1813(c)(2)) that is deemed to be critically undercapitalized under section 38 of the FDI Act (12 U.S.C. 1831o(b)(1)(E)) and its implementing regulations. (c)(1) Depository institution means an institution that maintains reservable transaction accounts or nonpersonal time deposits and is: (i) An insured bank as defined in section 3 of the FDI Act (12 U.S.C. 1813(h)) or a bank that is eligible to make application to become an insured bank under section 5 of such act (12 U.S.C. 1815); (ii) A mutual savings bank as defined in section 3 of the FDI Act (12 U.S.C. 1813(f)) or a bank that is eligible to make application to become an insured bank under section 5 of such act (12 U.S.C. 1815); (iii) A savings bank as defined in section 3 of the FDI Act (12 U.S.C. 1813(g)) or a bank that is eligible to make application to become an insured bank under section 5 of such act (12 U.S.C. 1815); (iv) An insured credit union as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752(7)) or a credit union that is eligible to make application to become an insured credit union pursuant to section 201 of such act (12 U.S.C. 1781); (v) A member as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422(4)); or (vi) A savings association as defined in section 3 of the FDI Act (12 U.S.C. 1813(b)) that is an insured depository [[Page 6]] institution as defined in section 3 of the act (12 U.S.C. 1813(c)(2)) or is eligible to apply to become an insured depository institution under section 5 of the act (12 U.S.C. 15(a)). (2) The term depository institution does not include a financial institution that is not required to maintain reserves under Sec. 204.1(c)(4) of Regulation D (12 CFR 204.1(c)(4)) because it is organized solely to do business with other financial institutions, is owned primarily by the financial institutions with which it does business, and does not do business with the general public. (d) Transaction account and nonpersonal time deposit have the meanings specified in Regulation D (12 CFR part 204). (e) Undercapitalized insured depository institution means any insured depository institution as defined in section 3 of the FDI Act (12 U.S.C. 1813(c)(2)) that: (1) Is not a critically undercapitalized insured depository institution; and (2)(i) Is deemed to be undercapitalized under section 38 of the FDI Act (12 U.S.C. 1831o(b)(1)(C)) and its implementing regulations; or (ii) Has received from its appropriate federal banking agency a composite CAMELS rating of 5 under the Uniform Financial Institutions Rating System (or an equivalent rating by its appropriate federal banking agency under a comparable rating system) as of the most recent examination of such institution. (f) Viable, with respect to a depository institution, means that the Board of Governors or the appropriate federal banking agency has determined, giving due regard to the economic conditions and circumstances in the market in which the institution operates, that the institution is not critically undercapitalized, is not expected to become critically undercapitalized, and is not expected to be placed in conservatorship or receivership. Although there are a number of criteria that may be used to determine viability, the Board of Governors believes that ordinarily an undercapitalized insured depository institution is viable if the appropriate federal banking agency has accepted a capital restoration plan for the depository institution under 12 U.S.C. 1831o(e)(2) and the depository institution is complying with that plan. [Reg. A, 67 FR 67785, Nov. 7, 2002] Sec. 201.3 Extensions of credit generally. (a) Advances to and discounts for a depository institution. (1) A Federal Reserve Bank may lend to a depository institution either by making an advance secured by acceptable collateral under Sec. 201.4 of this part or by discounting certain types of paper. A Federal Reserve Bank generally extends credit by making an advance. (2) An advance to a depository institution must be secured to the satisfaction of the Federal Reserve Bank that makes the advance. Satisfactory collateral generally includes United States government and federal-agency securities, and, if of acceptable quality, mortgage notes covering one-to four-family residences, state and local government securities, and business, consumer, and other customer notes. (3) If a Federal Reserve Bank concludes that a discount would meet the needs of a depository institution or an institution described in section 13A of the Federal Reserve Act (12 U.S.C. 349) more effectively, the Reserve Bank may discount any paper indorsed by the institution, provided the paper meets the requirements specified in the Federal Reserve Act. (b) No obligation to make advances or discounts. This section does not entitle any person or entity to obtain any credit or any increase, renewal or extension of maturity of any credit from a Federal Reserve Bank. (c) Information requirements. (1) Before extending credit to a depository institution, a Federal Reserve Bank should determine if the institution is an undercapitalized insured depository institution or a critically undercapitalized insured depository institution and, if so, follow the lending procedures specified in Sec. 201.5. (2) Each Federal Reserve Bank shall require any information it believes appropriate or desirable to ensure that assets tendered as collateral for advances or for discount are acceptable and that the borrower uses the credit provided in a manner consistent with this part. [[Page 7]] (3) Each Federal Reserve Bank shall: (i) Keep itself informed of the general character and amount of the loans and investments of a depository institution as provided in section 4(8) of the Federal Reserve Act (12 U.S.C. 301); and (ii) Consider such information in determining whether to extend credit. (d) Indirect credit for others. Except for depository institutions that receive primary credit as described in Sec. 201.4(a), no depository institution shall act as the medium or agent of another depository institution in receiving Federal Reserve credit except with the permission of the Federal Reserve Bank extending credit. [Reg. A, 67 FR 67786, Nov. 7, 2002, as amended at 74 FR 65016, Dec. 9, 2009; 80 FR 78965, Dec. 18, 2015; 83 FR 21168, May 9, 2018] Sec. 201.4 Availability and terms of credit. (a) Primary credit. A Federal Reserve Bank may extend primary credit on a very short-term basis, usually overnight, as a backup source of funding to a depository institution that is in generally sound financial condition in the judgment of the Reserve Bank. Such primary credit ordinarily is extended with minimal administrative burden on the borrower. A Federal Reserve Bank also may extend primary credit with maturities up to a few weeks as a backup source of funding to a depository institution if, in the judgment of the Reserve Bank, the depository institution is in generally sound financial condition and cannot obtain such credit in the market on reasonable terms. Credit extended under the primary credit program is granted at the primary credit rate. (b) Secondary credit. A Federal Reserve Bank may extend secondary credit on a very short-term basis, usually overnight, as a backup source of funding to a depository institution that is not eligible for primary credit if, in the judgment of the Reserve Bank, such a credit extension would be consistent with a timely return to a reliance on market funding sources. A Federal Reserve Bank also may extend longer-term secondary credit if the Reserve Bank determines that such credit would facilitate the orderly resolution of serious financial difficulties of a depository institution. Credit extended under the secondary credit program is granted at a rate above the primary credit rate. (c) Seasonal credit. A Federal Reserve Bank may extend seasonal credit for periods longer than those permitted under primary credit to assist a smaller depository institution in meeting regular needs for funds arising from expected patterns of movement in its deposits and loans. An interest rate that varies with the level of short-term market interest rates is applied to seasonal credit. (1) A Federal Reserve Bank may extend seasonal credit only if: (i) The depository institution's seasonal needs exceed a threshold that the institution is expected to meet from other sources of liquidity (this threshold is calculated as a certain percentage, established by the Board of Governors, of the institution's average total deposits in the preceding calendar year); and (ii) The Federal Reserve Bank is satisfied that the institution's qualifying need for funds is seasonal and will persist for at least four weeks. (2) The Board may establish special terms for seasonal credit when depository institutions are experiencing unusual seasonal demands for credit in a period of liquidity strain. (d) Emergency credit for others--(1) Authorization to extend credit. In unusual and exigent circumstances, the Board, by the affirmative vote of not less than five members,\1\ may authorize any Federal Reserve Bank, subject to such conditions and during such periods as the Board may determine, to extend credit to any participant in a program or facility with broad-based eligibility established and operated in accordance with this paragraph (d). --------------------------------------------------------------------------- \1\ Unless fewer are authorized pursuant to section 11(r) of the Federal Reserve Act. 12 U.S.C. 248(r). --------------------------------------------------------------------------- (2) Approval of the Secretary of the Treasury. A program or facility may not be established under this paragraph (d) without obtaining the prior approval of the Secretary of the Treasury. (3) Disclosure of justification and terms. As soon as is reasonably practicable, [[Page 8]] and no later than 7 days after a program or facility is authorized under this paragraph (d), the Board and the authorized Federal Reserve Bank or Federal Reserve Banks, as appropriate, will make publicly available a description of the program or facility, a description of the market or sector of the financial system to which the program or facility is intended to provide liquidity, a description of the unusual and exigent circumstances that exist, the intended effect of the program or facility, and the terms and conditions for participation in the program or facility. In addition, within the same 7-day period, the Board will provide a copy of this information to the Committee on Banking, Housing and Urban Affairs of the U.S. Senate and the Committee on Financial Services of the U.S. House of Representatives. (4) Broad-based eligibility. (i) A program or facility established under this paragraph (d) must have broad-based eligibility in accordance with terms established by the Board. (ii) For purposes of this paragraph (d), a program or facility has broad-based eligibility only if the program or facility is designed to provide liquidity to an identifiable market or sector of the financial system; (iii) A program or facility will not be considered to have broad- based eligibility for purposes of this paragraph (d) if: (A) The program or facility is designed for the purpose of assisting one or more specific companies avoid bankruptcy, resolution under Title II of Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203, 12 U.S.C. 5381 et seq.), or any other Federal or State insolvency proceeding, including by removing assets from the balance sheet of one or more such company; (B) The program or facility is designed for the purpose of aiding one or more failing financial companies; or (C) Fewer than five persons or entities would be eligible to participate in the program or facility. (iv) A Federal Reserve Bank may extend credit through a program or facility with broad-based eligibility established under this paragraph (d) through such mechanism or vehicle as the Board determines would facilitate the extension of such credit. (5) Insolvency. (i) A Federal Reserve Bank may not extend credit through a program or facility established under this paragraph (d) to any person or entity that is insolvent or to any person or entity that is borrowing for the purpose of lending the proceeds of the loan to a person or entity that is insolvent. (ii) Before extending credit through a program or facility established under this paragraph (d) to any person or entity, the Federal Reserve Bank must obtain evidence that the person or entity is not insolvent. (iii) A person or entity is ``insolvent'' for purposes of this paragraph (d) if: (A) The person or entity is in bankruptcy, resolution under Title II of Public Law 111-203 (12 U.S.C. 5381 et seq.) or any other Federal or State insolvency proceeding; (B) The person or entity is generally not paying its undisputed debts as they become due during the 90 days preceding the date of borrowing under the program or facility; or (C) The Board or Federal Reserve Bank otherwise determines that the person or entity is insolvent. (iv) For purposes of meeting the requirements of this paragraph (d)(5), the Board or Federal Reserve Bank, as relevant, may rely on: (A) A written certification from the person or from the chief executive officer or other authorized officer of the entity, at the time the person or entity initially borrows under the program or facility, that the person or entity is not in bankruptcy, resolution under Title II of Public Law 111-203 (12 U.S.C. 5381 et seq.) or any other Federal or State insolvency proceeding, and has not failed to generally pay its undisputed debts as they become due during the 90 days preceding the date of borrowing under the program or facility; (B) Recent audited financial statements of the person or entity; or (C) Other information that the Board or the Federal Reserve Bank may determine to be relevant. (v) A person or officer (or successor of either) that submits a written certification under this subparagraph must immediately notify the lending [[Page 9]] Federal Reserve Bank if the information in the certification changes. (vi) Upon a finding by the Board or a Federal Reserve Bank that a participant, including a participant that has provided a certification under this paragraph (d)(5), is or has become insolvent, that participant is not eligible for any new extension of credit from a program or facility established under this paragraph (d) until such time as the Board or a Federal Reserve Bank determines that such participant is no longer insolvent. (vii) If a participant or person has provided a certification under this paragraph (d)(5) or paragraph (d)(8)(ii) of this section that includes a knowing material misrepresentation in the certification, all extensions of credit made pursuant to this paragraph (d) that are outstanding to the relevant participant shall become immediately due and payable, and all accrued interest, fees and penalties shall become immediately due and payable. The Board or the lending Federal Reserve Bank will also refer the matter to the relevant law enforcement authorities for investigation and action in accordance with applicable criminal and civil law. (6) Indorsement or other security. (i) All credit extended under a program or facility established under this paragraph (d) must be indorsed or otherwise secured, in each case, to the satisfaction of the lending Federal Reserve Bank. (ii) In determining whether an extension of credit under any program or facility established under this paragraph (d) is secured to its satisfaction, a Federal Reserve Bank must, prior to or at the time the credit is initially extended, assign a lendable value to all collateral for the program or facility, consistent with sound risk management practices and to ensure protection for the taxpayer. (7) Penalty rate and fees. (i) The Board will determine the interest rate to be charged on any credit extended through a program or facility established under this section in accordance with this paragraph (d) and the provisions of section 14, subdivision (d) of the Federal Reserve Act (12 U.S.C. 357). The Board may determine the interest rate by auction or such other method as the Board determines in accordance with section 14, subdivision (d) of the Federal Reserve Act (12 U.S.C. 357). (ii) The interest rate established for credit extended through a program or facility established under this section will be set at a penalty level that: (A) Is a premium to the market rate in normal circumstances; (B) Affords liquidity in unusual and exigent circumstances; and (C) Encourages repayment of the credit and discourages use of the program or facility as the unusual and exigent circumstances that motivated the program or facility recede and economic conditions normalize. (iii) In determining the rate, the Board will consider the condition of affected markets and the financial system generally, the historical rate of interest for loans of comparable terms and maturity during normal times, the purpose of the program or facility, the risk of repayment, the collateral supporting the credit, the duration, terms and amount of the credit, and any other factor that the Board determines to be relevant to ensuring that the taxpayer is appropriately compensated for the risks associated with the credit extended under the program or facility and the purposes of this paragraph (d) are fulfilled. (iv) In addition to the rate established and charged under this paragraph (d)(7), the Board may require the payment of any fees, penalties, charges or other consideration the Board determines to be appropriate to protect and appropriately compensate the taxpayer for the risks associated with the credit extended under the program or facility. (8) Evidence regarding unavailability of adequate credit accommodation. (i) Each lending Federal Reserve Bank must obtain evidence that, under the prevailing circumstances, participants in a program or facility established under this paragraph (d) are unable to secure adequate credit accommodations from other banking institutions. (ii) Evidence required under this paragraph (d)(8) may be based on economic conditions in the market or markets intended to be addressed by the program or facility, a written certification from the person or from the chief executive officer or other authorized officer of the entity at the time [[Page 10]] the person or entity initially borrows under the program or facility, or other evidence from participants or other sources. (9) Termination of program or facility. (i) A program or facility established under this paragraph (d) shall cease extending new credit no later than one year after the date of the first extension of credit under the program or facility or the date of any extension of the program or facility by the Board under paragraph (d)(9)(ii) of this section. (ii) A program or facility may be renewed upon the vote of not less than five members of the Board \2\ that unusual and exigent circumstances continue to exist and the program or facility continues to appropriately provide liquidity to the financial system, and the approval of the Secretary of the Treasury. --------------------------------------------------------------------------- \2\ Unless fewer are authorized pursuant to section 11(r) of the Federal Reserve Act. 12 U.S.C. 248(r). --------------------------------------------------------------------------- (iii) The Board shall make the disclosures required under paragraph (d)(3) of this section to the public and the relevant congressional committees no later than 7 days after renewing a program or facility under this paragraph (d)(9). (iv) The Board may at any time terminate a program or facility established under this paragraph (d). To ensure that the program or facility under this paragraph (d) is terminated in a timely and orderly fashion, the Board will periodically review, no less frequently than once every 6 months, the existence of unusual and exigent circumstances, the extent of usage of the program or facility, the extent to which the continuing authorization of the program or facility facilitates restoring or sustaining confidence in the identified financial markets, the ongoing need for the liquidity support provided by such program or facility, and such other factors as the Board may deem to be appropriate. The Board will terminate lending under a program or facility promptly upon finding that conditions no longer warrant the continuation of the program or facility or that continuation of the program or facility is no longer appropriate. (v) A program or facility that has been terminated will cease extending new credit and will collect existing loans pursuant to the applicable terms and conditions. (10) Reporting requirements. The Board will comply with the reporting requirements of 12 U.S.C. 248(s) and 12 U.S.C. 343(3)(C) pursuant to their terms. (11) No obligation to extend credit. This paragraph (d) does not entitle any person or entity to obtain any credit or any increase, renewal or extension of maturity of any credit from a Federal Reserve Bank. (12) Participation in programs and facilities and vendor selection. (i) Participation in any program or facility under this paragraph (d) shall not be limited or conditioned on the basis of any legally prohibited basis, such as the race, religion, color, gender, national origin, age or disability of the borrower. (ii) The selection of any third-party vendor used in the design, marketing or implementation of any program or facility under this paragraph (d) shall be without regard to the race, religion, color, gender, national origin, age or disability of the vendor or any principal shareholder of the vendor, and, to the extent possible and consistent with law, shall involve a process designed to support equal opportunity and diversity. (13) Short-term emergency credit secured solely by United States or agency obligations. In unusual and exigent circumstances and after consultation with the Board, a Federal Reserve Bank may extend credit under section 13(13) of the Federal Reserve Act if the collateral used to secure such credit consists solely of obligations of, or obligations fully guaranteed as to principal and interest by, the United States or an agency thereof. Prior to extending credit under this paragraph (d)(13), the Federal Reserve Bank must obtain evidence that credit is not available from other sources and failure to obtain such credit would adversely affect the economy. Credit extended under this paragraph (d)(13) may not be extended for a term exceeding 90 days, must be extended at a rate above the highest rate in effect for advances to depository institutions as determined in accordance with section 14(d) of the [[Page 11]] Federal Reserve Act, and is subject to such limitations and conditions as provided by the Board. (e) Term auction facility. (1) A Federal Reserve Bank may make an advance to a depository institution pursuant to an auction conducted under this paragraph and at the rate specified in Sec. 201.51(e) if, in the judgment of the Reserve Bank, the depository institution is in generally sound financial condition and is expected to remain in that condition during the term of the advance. An auction under this paragraph shall be conducted subject to such conditions, including conditions regarding the participants, size and duration of the facility, minimum bid amount, maximum bid amount, term of advance, minimum bid rate, use of proceeds, and schedule of auction dates, as the Board may establish from time to time in connection with the term auction facility. The Board may appoint one or more Reserve Banks or others to conduct the auction. (2) Authorization for the term auction facility established by Sec. 201.4(e)(1) shall expire on such date as set by the Board. [Reg. A, 67 FR 67786, Nov. 7, 2002, as amended at 72 FR 71203, Dec. 17, 2007; 80 FR 78965, Dec. 18, 2015] Sec. 201.5 Limitations on availability and assessments. (a) Lending to undercapitalized insured depository institutions. A Federal Reserve Bank may make or have outstanding advances to or discounts for a depository institution that it knows to be an undercapitalized insured depository institution, only: (1) If, in any 120-day period, advances or discounts from any Federal Reserve Bank to that depository institution are not outstanding for more than 60 days during which the institution is an undercapitalized insured depository institution; or (2) During the 60 calendar days after the receipt of a written certification from the chairman of the Board of Governors or the head of the appropriate federal banking agency that the borrowing depository institution is viable; or (3) After consultation with the Board of Governors. In unusual circumstances, when prior consultation with the Board is not possible, a Federal Reserve Bank should consult with the Board as soon as possible after extending credit that requires consultation under this paragraph (a)(3). (b) Lending to critically undercapitalized insured depository institutions. A Federal Reserve Bank may make or have outstanding advances to or discounts for a depository institution that it knows to be a critically undercapitalized insured depository institution only: (1) During the 5-day period beginning on the date the institution became a critically undercapitalized insured depository institution; or (2) After consultation with the Board of Governors. In unusual circumstances, when prior consultation with the Board is not possible, a Federal Reserve Bank should consult with the Board as soon as possible after extending credit that requires consultation under this paragraph (b)(2). (c) Assessments. The Board of Governors will assess the Federal Reserve Banks for any amount that the Board pays to the FDIC due to any excess loss in accordance with section 10B(b) of the Federal Reserve Act. Each Federal Reserve Bank shall be assessed that portion of the amount that the Board of Governors pays to the FDIC that is attributable to an extension of credit by that Federal Reserve Bank, up to 1 percent of its capital as reported at the beginning of the calendar year in which the assessment is made. The Board of Governors will assess all of the Federal Reserve Banks for the remainder of the amount it pays to the FDIC in the ratio that the capital of each Federal Reserve Bank bears to the total capital of all Federal Reserve Banks at the beginning of the calendar year in which the assessment is made, provided, however, that if any assessment exceeds 50 percent of the total capital and surplus of all Federal Reserve Banks, whether to distribute the excess over such 50 percent shall be made at the discretion of the Board of Governors. [Reg. A, 67 FR 67787, Nov. 7, 2002] [[Page 12]] Sec. 201.51 Interest rates applicable to credit extended by a Federal Reserve Bank. \3\ --------------------------------------------------------------------------- \3\ The primary, secondary, and seasonal credit rates described in this section apply to both advances and discounts made under the primary, secondary, and seasonal credit programs, respectively. --------------------------------------------------------------------------- (a) Primary credit. The interest rate at each Federal Reserve Bank for primary credit provided to depository institutions under Sec. 201.4(a) is 5.5 percent. (b) Secondary credit. The interest rate at each Federal Reserve Bank for secondary credit provided to depository institutions under Sec. 201.4(b) is 6.0 percent. (c) Seasonal credit. The rate for seasonal credit extended to depository institutions under Sec. 201.4(c) is a flexible rate that takes into account rates on market sources of funds. (d) Primary credit rate in a financial emergency. (1) The primary credit rate at a Federal Reserve Bank is the target federal funds rate of the Federal Open Market Committee or, if the Federal Open Market Committee has set a target range for the federal funds rate, the rate corresponding to the top of the target range, if: (i) In a financial emergency the Reserve Bank has established the primary credit rate at that rate; and (ii) The Chairman of the Board of Governors (or, in the Chairman's absence, his authorized designee) certifies that a quorum of the Board is not available to act on the Reserve Bank's rate establishment. (2) For purposes of this paragraph (d), a financial emergency is a significant disruption to the U.S. money markets resulting from an act of war, military or terrorist attack, natural disaster, or other catastrophic event. (e) Term auction facility. The interest rate on advances to depository institutions made pursuant to an auction under Sec. 201.4(e) is the rate at which all bids at that auction may be fulfilled, up to the maximum auction amount and subject to any minimum bid rate and other conditions as set by the Board. [Reg. A, 67 FR 67787, Nov. 7, 2002] Editorial Note: For Federal Register citations affecting Sec. 201.51, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Interpretations Sec. 201.104 Eligibility of consumer loans and finance company paper. (a) The Board of Governors has clarified and modified its position with respect to the eligibility of consumer loans and finance company paper for discount with and as collateral for advances by the reserve banks. (b) Section 13, paragraph 2, of the Federal Reserve Act authorizes a Federal Reserve Bank, under certain conditions, to discount for member banks * * * notes, drafts, and bills of exchange arising out of actual commercial transactions; that is, notes, drafts, and bills of exchange issued or drawn for agricultural, industrial, or commercial purposes, or the proceeds of which have been used, or are to be used, for such purposes, the Board of Governors of the Federal Reserve System to have the right to determine or define the character of the paper thus eligible for discount, within the meaning of this Act. (c) It continues to be the opinion of the Board that borrowing for the purpose of purchasing goods is borrowing for a commercial purpose, whether the borrower intends to use the goods himself or to resell them. Hence, loans made to enable consumers to purchase automobiles or other goods should be included under commercial, agricultural, and industrial paper within the meaning of the Federal Reserve Act, and as such are eligible for discounting with the Reserve Banks and as security for advances from the Reserve Banks under section 13, paragraph 8, of the Federal Reserve Act as long as they conform to requirements with respect to maturity and other matters. This applies equally to loans made directly by banks to consumers and to paper accepted by banks from dealers or finance companies. It also applies to notes of finance companies themselves as long as the proceeds of such notes are used to finance the purchase of consumer goods or for other purposes which are eligible within the meaning of the Federal Reserve Act. (d) If there is any question as to whether the proceeds of a note of a finance company have been or are to be [[Page 13]] used for a commercial, agricultural, or industrial purpose, a financial statement of the finance company reflecting an excess of notes receivable which appear eligible for rediscount (without regard to maturity) over total current liabilities (i.e., notes due within 1 year) may be taken as an indication of eligibility. Where information is lacking as to whether direct consumer loans by a finance company are for eligible purposes, it may be assumed that 50 percent of such loans are ``notes receivable which appear eligible for rediscount''. In addition, that language should be regarded as including notes given for the purchase of mobile homes that are acquired by a finance company from a dealer-seller of such homes. (e) The principles stated above apply not only to notes of a finance company engaged in making consumer loans but also to notes of a finance company engaged in making loans for other eligible purposes, including business and agricultural loans. Under section 13a of the Federal Reserve Act, paper representing loans to finance the production, marketing, and carrying of agricultural products or the breeding, raising, fattening, or marketing of livestock is eligible for discount if the paper has a maturity of not exceeding 9 months. Consequently, a note of a finance company the proceeds of which are used by it to make loans for such purposes is eligible for discount or as security for a Federal Reserve advance, and such a note, unlike the note of a finance company making consumer loans, may have a maturity of up to 9 months. [37 FR 4701, Mar. 4, 1972] Sec. 201.107 Eligibility of demand paper for discount and as security for advances by Reserve Banks. (a) The Board of Governors has reconsidered a ruling made in 1917 that demand notes are ineligible for discount under the provisions of the Federal Reserve Act. (1917 Federal Reserve Bulletin 378.) (b) The basis of that ruling was the provision in the second paragraph of section 13 of the Federal Reserve Act that notes, drafts, and bills of exchange must have a maturity at the time of discount of not more than 90 days, exclusive of grace. The ruling stated that a demand note or bill is not eligible under the provisions of the act, since it is not in terms payable within the prescribed 90 days, but, at the option of the holder, may not be presented for payment until after that time. (c) It is well settled as a matter of law, however, that demand paper is due and payable on the date of its issue. The generally accepted legal view is stated in Beutel's Brannan on Negotiable Instruments Law, at page 305, as follows: The words on demand serve the same purpose as words making instruments payable at a specified time. They fix maturity of the obligation and do not make demand necessary, but mean that the instrument is due, payable and matured when made and delivered. (d) Accordingly, the Board has concluded that, since demand paper is due and payable on the date of its issue, it satisfies the maturity requirements of the statute. Demand paper which otherwise meets the eligibility requirements of the Federal Reserve Act and this part Regulation A, therefore, is eligible for discount and as security for advances by Reserve Banks. [31 FR 5443, Apr. 16, 1966] Sec. 201.108 Obligations eligible as collateral for advances. (a) Section 3(a) of Pub. L. 90-505, approved September 21, 1968, amended the eighth paragraph of section 13 of the Federal Reserve Act (12 U.S.C. 347) to authorize advances thereunder to member banks ``secured by such obligations as are eligible for purchase under section 14(b) of this Act.'' The relevant part of such paragraph had previously referred only to ``notes * * * eligible * * * for purchase'', which the Board had construed as not including obligations generally regarded as securities. (See 1962 Federal Reserve Bulletin 690, Sec. 201.103(d).) (b) Under section 14(b) direct obligations of, and obligations fully guaranteed as to principal and interest by, the United States are eligible for purchase by Reserve Banks. Such obligations include certificates issued by the trustees of Penn Central Transportation Co. [[Page 14]] that are fully guaranteed by the Secretary of Transportation. Under section 14(b) direct obligations of, and obligations fully guaranteed as to principal and interest by, any agency of the United States are also eligible for purchase by Reserve Banks. Following are the principal agency obligations eligible as collateral for advances: (1) Federal Intermediate Credit Bank debentures; (2) Federal Home Loan Bank notes and bonds; (3) Federal Land Bank bonds; (4) Bank for Cooperative debentures; (5) Federal National Mortgage Association notes, debentures and guaranteed certificates of participation; (6) Obligations of or fully guaranteed by the Government National Mortgage Association; (7) Merchant Marine bonds; (8) Export-Import Bank notes and guaranteed participation certificates; (9) Farmers Home Administration insured notes; (10) Notes fully guaranteed as to principal and interest by the Small Business Administration; (11) Federal Housing Administration debentures; (12) District of Columbia Armory Board bonds; (13) Tennessee Valley Authority bonds and notes; (14) Bonds and notes of local urban renewal or public housing agencies fully supported as to principal and interest by the full faith and credit of the United States pursuant to section 302 of the Housing Act of 1961 (42 U.S.C. 1421a(c), 1452(c)). (15) Commodity Credit Corporation certificates of interest in a price-support loan pool. (16) Federal Home Loan Mortgage Corporation notes, debentures, and guaranteed certificates of participation. (17) U.S. Postal Service obligations. (18) Participation certificates evidencing undivided interests in purchase contracts entered into by the General Services Administration. (19) Obligations entered into by the Secretary of Health, Education, and Welfare under the Public Health Service Act, as amended by the Medical Facilities Construction and Modernization Amendments of 1970. (20) Obligations guaranteed by the Overseas Private Investment Corp., pursuant to the provisions of the Foreign Assistance Act of 1961, as amended. (c) Nothing less than a full guarantee of principal and interest by a Federal agency will make an obligation eligible. For example, mortgage loans insured by the Federal Housing Administration are not eligible since the insurance contract is not equivalent to an unconditional guarantee and does not fully cover interest payable on the loan. Obligations of international institutions, such as the Inter-American Development Bank and the International Bank for Reconstruction and Development, are also not eligible, since such institutions are not agencies of the United States. (d) Also eligible for purchase under section 14(b) are ``bills, notes, revenue bonds, and warrants with a maturity from date of purchase of not exceeding 6 months, issued in anticipation of the collection of taxes or in anticipation of the receipt of assured revenues by any State, county, district, political subdivision, or municipality in the continental United States, including irrigation, drainage and reclamation districts.''\5\ In determining the eligibility of such obligations as collateral for advances, but the Reserve Bank will satisfy itself that sufficient tax or other assured revenues earmarked for payment of such obligations will be available for that purpose at maturity, or within 6 months from the date of the advance if no maturity is stated. Payments due from Federal, State or other governmental units may, in the Reserve Bank's discretion, be regarded as ``other assured revenues''; but neither the proceeds of a prospective issue of securities nor future tolls, rents or similar collections for the voluntary use of government property for non-governmental purposes will normally [[Page 15]] be so regarded. Obligations with original maturities exceeding 1 year would not ordinarily be self-liquidating as contemplated by the statute, unless at the time of issue provision is made for a redemption or sinking fund that will be sufficient to pay such obligations at maturity. --------------------------------------------------------------------------- \4\ [Reserved] \5\ Paragraph 3 of section 1 of the Federal Reserve Act (12 U.S.C. 221) defines the continental United States to mean ``the States of the United States and the District of Columbia'', thus including Alaska and Hawaii. [Reg. A, 33 FR 17231, Nov. 21, 1968, as amended at 34 FR 1113, Jan. 24, 1969; 34 FR 6417, Apr. 12, 1969; 36 FR 8441, May 6, 1971; 37 FR 24105, Nov. 14, 1972; 43 FR 53709, Nov. 17, 1978; 58 FR 68515, Dec. 28, 1993; 80 FR 78965, Dec. 18, 2015] Sec. 201.109 Eligibility for discount of mortgage company notes. (a) The question has arisen whether notes issued by mortgage banking companies to finance their acquisition and temporary holding of real estate mortgages are eligible for discount by Reserve Banks. (b) Under section 13 of the Federal Reserve Act the Board has authority to define what are ``agricultural, industrial, or commercial purposes'', which is the statutory criterion for determining the eligibility of notes and drafts for discount. However, such definition may not include paper ``covering merely investments or issued or drawn for the purpose of carrying or trading in stocks, bonds, or other investment securities''. (c) The legislative history of section 13 suggests that Congress intended to make eligible for discount ``any paper drawn for a legitimate business purpose of any kind'' \6\ and that the Board, in determining what paper is eligible, should place a ``broad and adaptable construction'' \7\ upon the terms in section 13. It may also be noted that Congress apparently considered paper issued to carry investment securities as paper issued for a ``commercial purpose'', since it specifically prohibited the Board from making such paper eligible for discount. If ``commercial'' is broad enough to encompass investment banking, it would also seem to include mortgage banking. --------------------------------------------------------------------------- \6\ House Report No. 69, 63d Cong., p. 48. \7\ 50 Cong. Rec. 4675 (1913) (remarks of Rep. Phelan). --------------------------------------------------------------------------- (d) In providing for the discount of commercial paper by Reserve Banks, Congress obviously intended to facilitate the current financing of agriculture, industry, and commerce, as opposed to long-term investment. \8\ In the main, trading in stocks and bonds is investment- oriented; most securities transactions do not directly affect the production or distribution of goods and services. Mortgage banking, on the other hand, is essential to the construction industry and thus more closely related to industry and commerce. Although investment bankers also perform similar functions with respect to newly issued securities, Congress saw fit to deny eligibility to all paper issued to finance the carrying of securities. Congress did not distinguish between newly issued and outstanding securities, perhaps covering the larger area in order to make certain that the area of principal concern (i.e., trading in outstanding stocks and bonds) was fully included. Speculation was also a major Congressional concern, but speculation is not a material element in mortgage banking operations. Mortgage loans would not therefore seem to be within the purpose underlying the exclusions from eligibility in section 13. --------------------------------------------------------------------------- \8\ 50 Cong. Rec. 5021 (1913) (remarks of Rep. Thompson of Oklahoma); 50 Cong. Rec. 4731-32 (1913) (remarks of Rep. Borland). --------------------------------------------------------------------------- (e) Section 201.3(a) provides that a negotiable note maturing in 90 days or less is not eligible for discount if the proceeds are used ``for permanent or fixed investments of any kind, such as land, buildings or machinery, or for any other fixed capital purpose''. However, the proceeds of a mortgage company's commercial paper are not used by it for any permanent or fixed capital purpose, but only to carry temporarily an inventory of mortgage loans pending their ``packaging'' for sale to permanent investors that are usually recurrent customers. (f) In view of the foregoing considerations the Board concluded that notes issued to finance such temporary ``warehousing'' of real estate mortgage loans are notes issued for an industrial or commercial purpose, that such mortgage loans do not constitute ``investment securities'', as that term is [[Page 16]] used in section 13, and that the temporary holding of such mortgages in these circumstances is not a permanent investment by the mortgage banking company. Accordingly, the Board held that notes having not more than 90 days to run which are issued to finance the temporary holding of mortgage loans are eligible for discount by Reserve Banks. [35 FR 527, Jan. 15, 1970, as amended at 58 FR 68515, Dec. 28, 1993; 80 FR 78965, Dec. 18, 2015] Sec. 201.110 Goods held by persons employed by owner. (a) The Board has been asked to review an Interpretation it issued in 1933 concerning the eligibility for rediscount by a Federal Reserve Bank of bankers' acceptances issued against field warehouse receipts where the custodian of the goods is a present or former employee of the borrower. [] 1445 Published Interpretations, 1933 BULLETIN 188] The Board determined at that time that the acceptances were not eligible because such receipts do not comply with the requirement of section 13 of the Federal Reserve Act that a banker's acceptance be ``secured at the time of acceptance by a warehouse receipt or other such document conveying or securing title covering readily marketable staples,'' nor with the requirement of section XI of the Board's Regulation A that it be ``secured at the time of acceptance by a warehouse, terminal, or other similar receipt, conveying security title to such staples, issued by a party independent of the customer.'' The requirement that the receipt be ``issued by a party independent of the customer'' was deleted from Regulation A in 1973, and thus the primary issue for the Board's consideration is whether a field warehouse receipt is a document ``securing title'' to readily marketable staples. (b) While bankers' acceptances secured by field warehouse receipts are rarely offered for rediscount or as collateral for an advance, the issue of ``eligibility'' is still significant. If an ineligible acceptance is discounted and then sold by a member bank, the proceeds are deemed to be ``deposits'' under Sec. 204.1(f) of Regulation D and are subject to reserve requirements. (c) In reviewing this matter, the Board has taken into consideration the changes that have occurred in commercial law and practice since 1933. Modern commercial law, embodied in the Uniform Commercial Code, refers to ``perfecting security interests'' rather than ``securing title'' to goods. The Board believes that if, under State law, the issuance of a field warehouse receipt provides the lender with a perfected security interest in the goods, the receipt should be regarded as a document ``securing title'' to goods for the purposes of section 13 of the Federal Reserve Act. It should be noted, however, that the mere existence of a perfected security interest alone is not sufficient; the Act requires that the acceptance be secured by a warehouse receipt or its equivalent. (d) Under the U.C.C., evidence of an agreement between the secured party and the debtor must exist before a security interest can attach. [U.C.C. section 9-202.] This agreement may be evidence by: (1) A written security agreement signed by the debtor, or (2) the collateral being placed in the possession of the secured party or his agent [U.C.C. section 9-203]. Generally, a security interest is perfected by the filing of a financing statement, [U.C.C. section 9-302.] However, if the collateral is in the possession of a bailee, then perfection can be achieved by: (1) Having warehouse receipts issued in the name of the secured party; (2) notifying the bailee of the secured party's interest; or (3) having a financing statement filed. [U.C.C. section 9-304(3).] (e) If the field warehousing operation is properly conducted, a security interest in the goods is perfected when a warehouse receipt is issued in the name of the secured party (the lending bank). Therefore, warehouse receipts issued pursuant to a bona fide field warehousing operation satisfy the legal requirements of section 13 of the Federal Reserve Act. Moreover, in a properly conducted field warehousing operation, the warehouse manager will be trained, bonded, supervised and audited by the field warehousing company. This procedure tends to insure that he will not be impermissibly controlled by [[Page 17]] his former (or sometimes present) employer, the borrower, even though he may look to the borrower for reemployment at some future time. A prudent lender will, of course, carefully review the field warehousing operation to ensure that stated procedures are satisfactory and that they are actually being followed. The lender may also wish to review the field warehousing company's fidelity bonds and legal liability insurance policies to ensure that they provide satisfactory protection to the lender. (f) If the warehousing operation is not conducted properly, however, and the manager remains under the control of the borrower, the security interest may be lost. Consequently, the lender may wish to require a written security agreement and the filing of a financing statement to insure that the lender will have a perfected security interest even if it is later determined that the field warehousing operation was not properly conducted. It should be noted however, that the Federal Reserve Act clearly requires that the bankers' acceptance be secured by a warehouse receipt in order to satisfy the requirements of eligibility, and a written security agreement and a filed financing statement, while desirable, cannot serve as a substitute for a warehouse receipt. (g) This Interpretation is based on facts that have been presented in regard to field warehousing operations conducted by established, professional field warehouse companies, and it does not necessarily apply to all field warehousing operations. Thus ] 1430 and ] 1440 of the Published Interpretations [1918 BULLETIN 31 and 1918 BULLETIN 862] maintain their validity with regard to corporations formed for the purpose of conducting limited field warehousing operations. Furthermore, the prohibition contained in ] 1435 Published Interpretations [1918 BULLETIN 634] that ``the borrower shall not have access to the premises and shall exercise no control over the goods stored'' retains its validity, except that access for inspection purposes is still permitted under ] 1450 [1926 BULLETIN 666]. The purpose for the acceptance transaction must be proper and cannot be for speculation [] 1400, 1919 BULLETIN 858] or for the purpose of furnishing working capital [] 1405, 1922 BULLETIN 52]. (h) This interpretation supersedes only the previous ] 1445 of the Published Interpretations [1933 BULLETIN 188], and is not intended to affect any other Board Interpretation regarding field warehousing. (12 U.S.C. 342 et seq.) [43 FR 21434, May 18, 1978] PART 202_EQUAL CREDIT OPPORTUNITY ACT (REGULATION B) --Table of Contents Regulation B (Equal Credit Opportunity) Sec. 202.1 Authority, scope and purpose. 202.2 Definitions. 202.3 Limited exceptions for certain classes of transactions. 202.4 General rules. 202.5 Rules concerning requests for information. 202.6 Rules concerning evaluation of applications. 202.7 Rules concerning extensions of credit. 202.8 Special purpose credit programs. 202.9 Notifications. 202.10 Furnishing of credit information. 202.11 Relation to state law. 202.12 Record retention. 202.13 Information for monitoring purposes. 202.14 Rules on providing appraisal reports. 202.15 Incentives for self-testing and self-correction. 202.16 Enforcement, penalties and liabilities. 202.17 Data collection for credit applications by women-owned, minority- owned, or small businesses. Appendix A to Part 202--Federal Enforcement Agencies Appendix B to Part 202--Model Application Forms Appendix C to Part 202--Sample Notification Forms Appendix D to Part 202--Issuance of Staff Interpretations Supplement I to Part 202--Official Staff Interpretations Authority: 15 U.S.C. 1691-1691f; Pub. L. 111-203, 124 Stat. 1376. Source: Reg. B, 68 FR 13161, Mar. 18, 2003, unless otherwise noted. Sec. 202.1 Authority, scope and purpose. (a) Authority and scope. This regulation is issued by the Board of Governors of the Federal Reserve System [[Page 18]] pursuant to title VII (Equal Credit Opportunity Act) of the Consumer Credit Protection Act, as amended (15 U.S.C. 1601 et seq.). Except as otherwise provided herein, this regulation applies to all persons who are creditors, as defined in Sec. 202.2(1). Information collection requirements contained in this regulation have been approved by the Office of Management and Budget under the provisions of 44 U.S.C. 3501 et seq. and have been assigned OMB No. 7100-0201. (b) Purpose. The purpose of this regulation is to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract); to the fact that all or part of the applicant's income derives from a public assistance program; or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The regulation prohibits creditor practices that discriminate on the basis of any of these factors. The regulation also requires creditors to notify applicants of action taken on their applications; to report credit history in the names of both spouses on an account; to retain records of credit applications; to collect information about the applicant's race and other personal characteristics in applications for certain dwelling- related loans; and to provide applicants with copies of appraisal reports used in connection with credit transactions. Sec. 202.2 Definitions. For the purposes of this regulation, unless the context indicates otherwise, the following definitions apply. (a) Account means an extension of credit. When employed in relation to an account, the word use refers only to open-end credit. (b) Act means the Equal Credit Opportunity Act (title VII of the Consumer Credit Protection Act). (c) Adverse action. (1) The term means: (i) A refusal to grant credit in substantially the amount or on substantially the terms requested in an application unless the creditor makes a counteroffer (to grant credit in a different amount or on other terms) and the applicant uses or expressly accepts the credit offered; (ii) A termination of an account or an unfavorable change in the terms of an account that does not affect all or substantially all of a class of the creditor's accounts; or (iii) A refusal to increase the amount of credit available to an applicant who has made an application for an increase. (2) The term does not include: (i) A change in the terms of an account expressly agreed to by an applicant. (ii) Any action or forbearance relating to an account taken in connection with inactivity, default, or delinquency as to that account; (iii) A refusal or failure to authorize an account transaction at point of sale or loan, except when the refusal is a termination or an unfavorable change in the terms of an account that does not affect all or substantially all of a class of the creditor's accounts, or when the refusal is a denial of an application for an increase in the amount of credit available under the account; (iv) A refusal to extend credit because applicable law prohibits the creditor from extending the credit requested; or (v) A refusal to extend credit because the creditor does not offer the type of credit or credit plan requested. (3) An action that falls within the definition of both paragraphs (c)(1) and (c)(2) of this section is governed by paragraph (c)(2) of this section. (d) Age refers only to the age of natural persons and means the number of fully elapsed years from the date of an applicant's birth. (e) Applicant means any person who requests or who has received an extension of credit from a creditor, and includes any person who is or may become contractually liable regarding an extension of credit. For purposes of Sec. 202.7(d), the term includes guarantors, sureties, endorsers, and similar parties. (f) Application means an oral or written request for an extension of credit that is made in accordance with procedures used by a creditor for the type of credit requested. The term application does not include the use of an account [[Page 19]] or line of credit to obtain an amount of credit that is within a previously established credit limit. A completed application means an application in connection with which a creditor has received all the information that the creditor regularly obtains and considers in evaluating applications for the amount and type of credit requested (including, but not limited to, credit reports, any additional information requested from the applicant, and any approvals or reports by governmental agencies or other persons that are necessary to guarantee, insure, or provide security for the credit or collateral). The creditor shall exercise reasonable diligence in obtaining such information. (g) Business credit refers to extensions of credit primarily for business or commercial (including agricultural) purposes, but excluding extensions of credit of the types described in Sec. 202.3(a)-(d). (h) Consumer credit means credit extended to a natural person primarily for personal, family, or household purposes. (i) Contractually liable means expressly obligated to repay all debts arising on an account by reason of an agreement to that effect. (j) Credit means the right granted by a creditor to an applicant to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment therefor. (k) Credit card means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain money, property, or services on credit. (l) Creditor means a person who, in the ordinary course of business, regularly participates in a credit decision, including setting the terms of the credit. The term creditor includes a creditor's assignee, transferee, or subrogee who so participates. For purposes of Sec. 202.4(a) and (b), the term creditor also includes a person who, in the ordinary course of business, regularly refers applicants or prospective applicants to creditors, or selects or offers to select creditors to whom requests for credit may be made. A person is not a creditor regarding any violation of the Act or this regulation committed by another creditor unless the person knew or had reasonable notice of the act, policy, or practice that constituted the violation before becoming involved in the credit transaction. The term does not include a person whose only participation in a credit transaction involves honoring a credit card. (m) Credit transaction means every aspect of an applicant's dealings with a creditor regarding an application for credit or an existing extension of credit (including, but not limited to, information requirements; investigation procedures; standards of creditworthiness; terms of credit; furnishing of credit information; revocation, alteration, or termination of credit; and collection procedures). (n) Discriminate against an applicant means to treat an applicant less favorably than other applicants. (o) Elderly means age 62 or older. (p) Empirically derived and other credit scoring systems--(1) A credit scoring system is a system that evaluates an applicant's creditworthiness mechanically, based on key attributes of the applicant and aspects of the transaction, and that determines, alone or in conjunction with an evaluation of additional information about the applicant, whether an applicant is deemed creditworthy. To qualify as an empirically derived, demonstrably and statistically sound, credit scoring system, the system must be: (i) Based on data that are derived from an empirical comparison of sample groups or the population of creditworthy and noncreditworthy applicants who applied for credit within a reasonable preceding period of time; (ii) Developed for the purpose of evaluating the creditworthiness of applicants with respect to the legitimate business interests of the creditor utilizing the system (including, but not limited to, minimizing bad debt losses and operating expenses in accordance with the creditor's business judgment); (iii) Developed and validated using accepted statistical principles and methodology; and (iv) Periodically revalidated by the use of appropriate statistical principles and methodology and adjusted as necessary to maintain predictive ability. [[Page 20]] (2) A creditor may use an empirically derived, demonstrably and statistically sound, credit scoring system obtained from another person or may obtain credit experience from which to develop such a system. Any such system must satisfy the criteria set forth in paragraph (p)(1)(i) through (iv) of this section; if the creditor is unable during the development process to validate the system based on its own credit experience in accordance with paragraph (p)(1) of this section, the system must be validated when sufficient credit experience becomes available. A system that fails this validity test is no longer an empirically derived, demonstrably and statistically sound, credit scoring system for that creditor. (q) Extend credit and extension of credit mean the granting of credit in any form (including, but not limited to, credit granted in addition to any existing credit or credit limit; credit granted pursuant to an open-end credit plan; the refinancing or other renewal of credit, including the issuance of a new credit card in place of an expiring credit card or in substitution for an existing credit card; the consolidation of two or more obligations; or the continuance of existing credit without any special effort to collect at or after maturity). (r) Good faith means honesty in fact in the conduct or transaction. (s) Inadvertent error means a mechanical, electronic, or clerical error that a creditor demonstrates was not intentional and occurred notwithstanding the maintenance of procedures reasonably adapted to avoid such errors. (t) Judgmental system of evaluating applicants means any system for evaluating the creditworthiness of an applicant other than an empirically derived, demonstrably and statistically sound, credit scoring system. (u) Marital status means the state of being unmarried, married, or separated, as defined by applicable state law. The term ``unmarried'' includes persons who are single, divorced, or widowed. (v) Negative factor or value, in relation to the age of elderly applicants, means utilizing a factor, value, or weight that is less favorable regarding elderly applicants than the creditor's experience warrants or is less favorable than the factor, value, or weight assigned to the class of applicants that are not classified as elderly and are most favored by a creditor on the basis of age. (w) Open-end credit means credit extended under a plan in which a creditor may permit an applicant to make purchases or obtain loans from time to time directly from the creditor or indirectly by use of a credit card, check, or other device. (x) Person means a natural person, corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. (y) Pertinent element of creditworthiness, in relation to a judgmental system of evaluating applicants, means any information about applicants that a creditor obtains and considers and that has a demonstrable relationship to a determination of creditworthiness. (z) Prohibited basis means race, color, religion, national origin, sex, marital status, or age (provided that the applicant has the capacity to enter into a binding contract); the fact that all or part of the applicant's income derives from any public assistance program; or the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act or any state law upon which an exemption has been granted by the Board. (aa) State means any state, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or possession of the United States. Sec. 202.3 Limited exceptions for certain classes of transactions. (a) Public utilities credit--(1) Definition. Public utilities credit refers to extensions of credit that involve public utility services provided through pipe, wire, or other connected facilities, or radio or similar transmission (including extensions of such facilities), if the charges for service, delayed payment, and any discount for prompt payment are filed with or regulated by a government unit. (2) Exceptions. The following provisions of this regulation do not apply to public utilities credit: (i) Section 202.5(d)(1) concerning information about marital status; and [[Page 21]] (ii) Section 202.12(b) relating to record retention. (b) Securities credit--(1) Definition. Securities credit refers to extensions of credit subject to regulation under section 7 of the Securities Exchange Act of 1934 or extensions of credit by a broker or dealer subject to regulation as a broker or dealer under the Securities Exchange Act of 1934. (2) Exceptions. The following provisions of this regulation do not apply to securities credit: (i) Section 202.5(b) concerning information about the sex of an applicant; (ii) Section 202.5(c) concerning information about a spouse or former spouse; (iii) Section 202.5(d)(1) concerning information about marital status; (iv) Section 202.7(b) relating to designation of name to the extent necessary to comply with rules regarding an account in which a broker or dealer has an interest, or rules regarding the aggregation of accounts of spouses to determine controlling interests, beneficial interests, beneficial ownership, or purchase limitations and restrictions; (v) Section 202.7(c) relating to action concerning open-end accounts, to the extent the action taken is on the basis of a change of name or marital status; (vi) Section 202.7(d) relating to the signature of a spouse or other person; (vii) Section 202.10 relating to furnishing of credit information; and (viii) Section 202.12(b) relating to record retention. (c) Incidental credit--(1) Definition. Incidental credit refers to extensions of consumer credit other than the types described in paragraphs (a) and (b) of this section: (i) That are not made pursuant to the terms of a credit card account; (ii) That are not subject to a finance charge (as defined in Regulation Z, 12 CFR 226.4); and (iii) That are not payable by agreement in more than four installments. (2) Exceptions. The following provisions of this regulation do not apply to incidental credit: (i) Section 202.5(b) concerning information about the sex of an applicant, but only to the extent necessary for medical records or similar purposes; (ii) Section 202.5(c) concerning information about a spouse or former spouse; (iii) Section 202.5(d)(1) concerning information about marital status; (iv) Section 202.5(d)(2) concerning information about income derived from alimony, child support, or separate maintenance payments; (v) Section 202.7(d) relating to the signature of a spouse or other person; (vi) Section 202.9 relating to notifications; (vii) Section 202.10 relating to furnishing of credit information; and (viii) Section 202.12(b) relating to record retention. (d) Government credit--(1) Definition. Government credit refers to extensions of credit made to governments or governmental subdivisions, agencies, or instrumentalities. (2) Applicability of regulation. Except for Sec. 202.4(a), the general rule against discrimination on a prohibited basis, the requirements of this regulation do not apply to government credit. Sec. 202.4 General rules. (a) Discrimination. A creditor shall not discriminate against an applicant on a prohibited basis regarding any aspect of a credit transaction. (b) Discouragement. A creditor shall not make any oral or written statement, in advertising or otherwise, to applicants or prospective applicants that would discourage on a prohibited basis a reasonable person from making or pursuing an application. (c) Written applications. A creditor shall take written applications for the dwelling-related types of credit covered by Sec. 202.13(a). (d) Form of disclosures--(1) General rule. A creditor that provides in writing any disclosures or information required by this regulation must provide the disclosures in a clear and conspicuous manner and, except for the disclosures required by Sec. Sec. 202.5 and 202.13, in a form the applicant may retain. (2) Disclosures in electronic form. The disclosures required by this part that are required to be given in writing may be provided to the applicant in electronic form, subject to compliance with the consumer consent and other [[Page 22]] applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.). Where the disclosures under Sec. Sec. 202.5(b)(1), 202.5(b)(2), 202.5(d)(1), 202.5(d)(2), 202.13, and 202.14(a)(2)(i) accompany an application accessed by the applicant in electronic form, these disclosures may be provided to the applicant in electronic form on or with the application form, without regard to the consumer consent or other provisions of the E-Sign Act. (e) Foreign-language disclosures. Disclosures may be made in languages other than English, provided they are available in English upon request. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 72 FR 63451, Nov. 9, 2007] Sec. 202.5 Rules concerning requests for information. (a) General rules--(1) Requests for information. Except as provided in paragraphs (b) through (d) of this section, a creditor may request any information in connection with a credit transaction. \1\ --------------------------------------------------------------------------- \1\ This paragraph does not limit or abrogate any Federal or State law regarding privacy, privileged information, credit reporting limitations, or similar restrictions on obtainable information. --------------------------------------------------------------------------- (2) Required collection of information. Notwithstanding paragraphs (b) through (d) of this section, a creditor shall request information for monitoring purposes as required by Sec. 202.13 for credit secured by the applicant's dwelling. In addition, a creditor may obtain information required by a regulation, order, or agreement issued by, or entered into with, a court or an enforcement agency (including the Attorney General of the United States or a similar state official) to monitor or enforce compliance with the Act, this regulation, or other federal or state statutes or regulations. (3) Special-purpose credit. A creditor may obtain information that is otherwise restricted to determine eligibility for a special purpose credit program, as provided in Sec. 202.8(b), (c), and (d). (b) Limitation on information about race, color, religion, national origin, or sex. A creditor shall not inquire about the race, color, religion, national origin, or sex of an applicant or any other person in connection with a credit transaction, except as provided in paragraphs (b)(1) and (b)(2) of this section. (1) Self-test. A creditor may inquire about the race, color, religion, national origin, or sex of an applicant or any other person in connection with a credit transaction for the purpose of conducting a self-test that meets the requirements of Sec. 202.15. A creditor that makes such an inquiry shall disclose orally or in writing, at the time the information is requested, that: (i) The applicant will not be required to provide the information; (ii) The creditor is requesting the information to monitor its compliance with the federal Equal Credit Opportunity Act; (iii) Federal law prohibits the creditor from discriminating on the basis of this information, or on the basis of an applicant's decision not to furnish the information; and (iv) If applicable, certain information will be collected based on visual observation or surname if not provided by the applicant or other person. (2) Sex. An applicant may be requested to designate a title on an application form (such as Ms., Miss, Mr., or Mrs.) if the form discloses that the designation of a title is optional. An application form shall otherwise use only terms that are neutral as to sex. (c) Information about a spouse or former spouse--(1) General rule. Except as permitted in this paragraph, a creditor may not request any information concerning the spouse or former spouse of an applicant. (2) Permissible inquiries. A creditor may request any information concerning an applicant's spouse (or former spouse under paragraph (c)(2)(v) of this section) that may be requested about the applicant if: (i) The spouse will be permitted to use the account; (ii) The spouse will be contractually liable on the account; (iii) The applicant is relying on the spouse's income as a basis for repayment of the credit requested; (iv) The applicant resides in a community property state or is relying on property located in such a state as a [[Page 23]] basis for repayment of the credit requested; or (v) The applicant is relying on alimony, child support, or separate maintenance payments from a spouse or former spouse as a basis for repayment of the credit requested. (3) Other accounts of the applicant. A creditor may request that an applicant list any account on which the applicant is contractually liable and to provide the name and address of the person in whose name the account is held. A creditor may also ask an applicant to list the names in which the applicant has previously received credit. (d) Other limitations on information requests--(1) Marital status. If an applicant applies for individual unsecured credit, a creditor shall not inquire about the applicant's marital status unless the applicant resides in a community property state or is relying on property located in such a state as a basis for repayment of the credit requested. If an application is for other than individual unsecured credit, a creditor may inquire about the applicant's marital status, but shall use only the terms married, unmarried, and separated. A creditor may explain that the category unmarried includes single, divorced, and widowed persons. (2) Disclosure about income from alimony, child support, or separate maintenance. A creditor shall not inquire whether income stated in an application is derived from alimony, child support, or separate maintenance payments unless the creditor discloses to the applicant that such income need not be revealed if the applicant does not want the creditor to consider it in determining the applicant's creditworthiness. (3) Childbearing, childrearing. A creditor shall not inquire about birth control practices, intentions concerning the bearing or rearing of children, or capability to bear children. A creditor may inquire about the number and ages of an applicant's dependents or about dependent- related financial obligations or expenditures, provided such information is requested without regard to sex, marital status, or any other prohibited basis. (e) Permanent residency and immigration status. A creditor may inquire about the permanent residency and immigration status of an applicant or any other person in connection with a credit transaction. Sec. 202.6 Rules concerning evaluation of applications. (a) General rule concerning use of information. Except as otherwise provided in the Act and this regulation, a creditor may consider any information obtained, so long as the information is not used to discriminate against an applicant on a prohibited basis. \2\ --------------------------------------------------------------------------- \2\ The legislative history of the Act indicates that the Congress intended an ``effects test'' concept, as outlined in the employment field by the Supreme Court in the cases of Griggs v. Duke Power Co., 401 U.S. 424 (1971), and Albemarle Paper Co. v. Moody, 422 U.S. 405 (1975), to be applicable to a creditor's determination of creditworthiness. --------------------------------------------------------------------------- (b) Specific rules concerning use of information. (1) Except as provided in the Act and this regulation, a creditor shall not take a prohibited basis into account in any system of evaluating the creditworthiness of applicants. (2) Age, receipt of public assistance. (i) Except as permitted in this paragraph, a creditor shall not take into account an applicant's age (provided that the applicant has the capacity to enter into a binding contract) or whether an applicant's income derives from any public assistance program. (ii) In an empirically derived, demonstrably and statistically sound, credit scoring system, a creditor may use an applicant's age as a predictive variable, provided that the age of an elderly applicant is not assigned a negative factor or value. (iii) In a judgmental system of evaluating creditworthiness, a creditor may consider an applicant's age or whether an applicant's income derives from any public assistance program only for the purpose of determining a pertinent element of creditworthiness. (iv) In any system of evaluating creditworthiness, a creditor may consider the age of an elderly applicant when such age is used to favor the elderly applicant in extending credit. (3) Childbearing, childrearing. In evaluating creditworthiness, a creditor [[Page 24]] shall not make assumptions or use aggregate statistics relating to the likelihood that any category of persons will bear or rear children or will, for that reason, receive diminished or interrupted income in the future. (4) Telephone listing. A creditor shall not take into account whether there is a telephone listing in the name of an applicant for consumer credit but may take into account whether there is a telephone in the applicant's residence. (5) Income. A creditor shall not discount or exclude from consideration the income of an applicant or the spouse of an applicant because of a prohibited basis or because the income is derived from part-time employment or is an annuity, pension, or other retirement benefit; a creditor may consider the amount and probable continuance of any income in evaluating an applicant's creditworthiness. When an applicant relies on alimony, child support, or separate maintenance payments in applying for credit, the creditor shall consider such payments as income to the extent that they are likely to be consistently made. (6) Credit history. To the extent that a creditor considers credit history in evaluating the creditworthiness of similarly qualified applicants for a similar type and amount of credit, in evaluating an applicant's creditworthiness a creditor shall consider: (i) The credit history, when available, of accounts designated as accounts that the applicant and the applicant's spouse are permitted to use or for which both are contractually liable; (ii) On the applicant's request, any information the applicant may present that tends to indicate the credit history being considered by the creditor does not accurately reflect the applicant's creditworthiness; and (iii) On the applicant's request, the credit history, when available, of any account reported in the name of the applicant's spouse or former spouse that the applicant can demonstrate accurately reflects the applicant's creditworthiness. (7) Immigration status. A creditor may consider the applicant's immigration status or status as a permanent resident of the United States, and any additional information that may be necessary to ascertain the creditor's rights and remedies regarding repayment. (8) Marital status. Except as otherwise permitted or required by law, a creditor shall evaluate married and unmarried applicants by the same standards; and in evaluating joint applicants, a creditor shall not treat applicants differently based on the existence, absence, or likelihood of a marital relationship between the parties. (9) Race, color, religion, national origin, sex. Except as otherwise permitted or required by law, a creditor shall not consider race, color, religion, national origin, or sex (or an applicant's or other person's decision not to provide the information) in any aspect of a credit transaction. (c) State property laws. A creditor's consideration or application of state property laws directly or indirectly affecting creditworthiness does not constitute unlawful discrimination for the purposes of the Act or this regulation. Sec. 202.7 Rules concerning extensions of credit. (a) Individual accounts. A creditor shall not refuse to grant an individual account to a creditworthy applicant on the basis of sex, marital status, or any other prohibited basis. (b) Designation of name. A creditor shall not refuse to allow an applicant to open or maintain an account in a birth-given first name and a surname that is the applicant's birth-given surname, the spouse's surname, or a combined surname. (c) Action concerning existing open-end accounts--(1) Limitations. In the absence of evidence of the applicant's inability or unwillingness to repay, a creditor shall not take any of the following actions regarding an applicant who is contractually liable on an existing open- end account on the basis of the applicant's reaching a certain age or retiring or on the basis of a change in the applicant's name or marital status: (i) Require a reapplication, except as provided in paragraph (c)(2) of this section; (ii) Change the terms of the account; or (iii) Terminate the account. [[Page 25]] (2) Requiring reapplication. A creditor may require a reapplication for an open-end account on the basis of a change in the marital status of an applicant who is contractually liable if the credit granted was based in whole or in part on income of the applicant's spouse and if information available to the creditor indicates that the applicant's income may not support the amount of credit currently available. (d) Signature of spouse or other person--(1) Rule for qualified applicant. Except as provided in this paragraph, a creditor shall not require the signature of an applicant's spouse or other person, other than a joint applicant, on any credit instrument if the applicant qualifies under the creditor's standards of creditworthiness for the amount and terms of the credit requested. A creditor shall not deem the submission of a joint financial statement or other evidence of jointly held assets as an application for joint credit. (2) Unsecured credit. If an applicant requests unsecured credit and relies in part upon property that the applicant owns jointly with another person to satisfy the creditor's standards of creditworthiness, the creditor may require the signature of the other person only on the instrument(s) necessary, or reasonably believed by the creditor to be necessary, under the law of the state in which the property is located, to enable the creditor to reach the property being relied upon in the event of the death or default of the applicant. (3) Unsecured credit--community property states. If a married applicant requests unsecured credit and resides in a community property state, or if the applicant is relying on property located in such a state, a creditor may require the signature of the spouse on any instrument necessary, or reasonably believed by the creditor to be necessary, under applicable state law to make the community property available to satisfy the debt in the event of default if: (i) Applicable state law denies the applicant power to manage or control sufficient community property to qualify for the credit requested under the creditor's standards of creditworthiness; and (ii) The applicant does not have sufficient separate property to qualify for the credit requested without regard to community property. (4) Secured credit. If an applicant requests secured credit, a creditor may require the signature of the applicant's spouse or other person on any instrument necessary, or reasonably believed by the creditor to be necessary, under applicable state law to make the property being offered as security available to satisfy the debt in the event of default, for example, an instrument to create a valid lien, pass clear title, waive inchoate rights, or assign earnings. (5) Additional parties. If, under a creditor's standards of creditworthiness, the personal liability of an additional party is necessary to support the credit requested, a creditor may request a cosigner, guarantor, endorser, or similar party. The applicant's spouse may serve as an additional party, but the creditor shall not require that the spouse be the additional party. (6) Rights of additional parties. A creditor shall not impose requirements upon an additional party that the creditor is prohibited from imposing upon an applicant under this section. (e) Insurance. A creditor shall not refuse to extend credit and shall not terminate an account because credit life, health, accident, disability, or other credit-related insurance is not available on the basis of the applicant's age. Sec. 202.8 Special purpose credit programs. (a) Standards for programs. Subject to the provisions of paragraph (b) of this section, the Act and this regulation permit a creditor to extend special purpose credit to applicants who meet eligibility requirements under the following types of credit programs: (1) Any credit assistance program expressly authorized by federal or state law for the benefit of an economically disadvantaged class of persons; (2) Any credit assistance program offered by a not-for-profit organization, as defined under section 501(c) of the Internal Revenue Code of 1954, as amended, for the benefit of its members or for the benefit of an economically disadvantaged class of persons; or [[Page 26]] (3) Any special purpose credit program offered by a for-profit organization, or in which such an organization participates to meet special social needs, if: (i) The program is established and administered pursuant to a written plan that identifies the class of persons that the program is designed to benefit and sets forth the procedures and standards for extending credit pursuant to the program; and (ii) The program is established and administered to extend credit to a class of persons who, under the organization's customary standards of creditworthiness, probably would not receive such credit or would receive it on less favorable terms than are ordinarily available to other applicants applying to the organization for a similar type and amount of credit. (b) Rules in other sections--(1) General applicability. All the provisions of this regulation apply to each of the special purpose credit programs described in paragraph (a) of this section except as modified by this section. (2) Common characteristics. A program described in paragraph (a)(2) or (a)(3) of this section qualifies as a special purpose credit program only if it was established and is administered so as not to discriminate against an applicant on any prohibited basis; however, all program participants may be required to share one or more common characteristics (for example, race, national origin, or sex) so long as the program was not established and is not administered with the purpose of evading the requirements of the Act or this regulation. (c) Special rule concerning requests and use of information. If participants in a special purpose credit program described in paragraph (a) of this section are required to possess one or more common characteristics (for example, race, national origin, or sex) and if the program otherwise satisfies the requirements of paragraph (a) of this section, a creditor may request and consider information regarding the common characteristic(s) in determining the applicant's eligibility for the program. (d) Special rule in the case of financial need. If financial need is one of the criteria under a special purpose credit program described in paragraph (a) of this section, the creditor may request and consider, in determining an applicant's eligibility for the program, information regarding the applicant's marital status; alimony, child support, and separate maintenance income; and the spouse's financial resources. In addition, a creditor may obtain the signature of an applicant's spouse or other person on an application or credit instrument relating to a special purpose credit program if the signature is required by federal or state law. Sec. 202.9 Notifications. (a) Notification of action taken, ECOA notice, and statement of specific reasons--(1) When notification is required. A creditor shall notify an applicant of action taken within: (i) 30 days after receiving a completed application concerning the creditor's approval of, counteroffer to, or adverse action on the application; (ii) 30 days after taking adverse action on an incomplete application, unless notice is provided in accordance with paragraph (c) of this section; (iii) 30 days after taking adverse action on an existing account; or (iv) 90 days after notifying the applicant of a counteroffer if the applicant does not expressly accept or use the credit offered. (2) Content of notification when adverse action is taken. A notification given to an applicant when adverse action is taken shall be in writing and shall contain a statement of the action taken; the name and address of the creditor; a statement of the provisions of Sec. 701(a) of the Act; the name and address of the federal agency that administers compliance with respect to the creditor; and either: (i) A statement of specific reasons for the action taken; or (ii) A disclosure of the applicant's right to a statement of specific reasons within 30 days, if the statement is requested within 60 days of the creditor's notification. The disclosure shall include the name, address, and telephone number of the person or office from which the statement of reasons can be obtained. If the creditor chooses to provide the reasons orally, the creditor [[Page 27]] shall also disclose the applicant's right to have them confirmed in writing within 30 days of receiving the applicant's written request for confirmation. (3) Notification to business credit applicants. For business credit, a creditor shall comply with the notification requirements of this section in the following manner: (i) With regard to a business that had gross revenues of $1 million or less in its preceding fiscal year (other than an extension of trade credit, credit incident to a factoring agreement, or other similar types of business credit), a creditor shall comply with paragraphs (a)(1) and (2) of this section, except that: (A) The statement of the action taken may be given orally or in writing, when adverse action is taken; (B) Disclosure of an applicant's right to a statement of reasons may be given at the time of application, instead of when adverse action is taken, provided the disclosure contains the information required by paragraph (a)(2)(ii) of this section and the ECOA notice specified in paragraph (b)(1) of this section; (C) For an application made entirely by telephone, a creditor satisfies the requirements of paragraph (a)(3)(i) of this section by an oral statement of the action taken and of the applicant's right to a statement of reasons for adverse action. (ii) With regard to a business that had gross revenues in excess of $1 million in its preceding fiscal year or an extension of trade credit, credit incident to a factoring agreement, or other similar types of business credit, a creditor shall: (A) Notify the applicant, within a reasonable time, orally or in writing, of the action taken; and (B) Provide a written statement of the reasons for adverse action and the ECOA notice specified in paragraph (b)(1) of this section if the applicant makes a written request for the reasons within 60 days of the creditor's notification. (b) Form of ECOA notice and statement of specific reasons--(1) ECOA notice. To satisfy the disclosure requirements of paragraph (a)(2) of this section regarding section 701(a) of the Act, the creditor shall provide a notice that is substantially similar to the following: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is [name and address as specified by the appropriate agency listed in appendix A of this regulation]. (2) Statement of specific reasons. The statement of reasons for adverse action required by paragraph (a)(2)(i) of this section must be specific and indicate the principal reason(s) for the adverse action. Statements that the adverse action was based on the creditor's internal standards or policies or that the applicant, joint applicant, or similar party failed to achieve a qualifying score on the creditor's credit scoring system are insufficient. (c) Incomplete applications--(1) Notice alternatives. Within 30 days after receiving an application that is incomplete regarding matters that an applicant can complete, the creditor shall notify the applicant either: (i) Of action taken, in accordance with paragraph (a) of this section; or (ii) Of the incompleteness, in accordance with paragraph (c)(2) of this section. (2) Notice of incompleteness. If additional information is needed from an applicant, the creditor shall send a written notice to the applicant specifying the information needed, designating a reasonable period of time for the applicant to provide the information, and informing the applicant that failure to provide the information requested will result in no further consideration being given to the application. The creditor shall have no further obligation under this section if the applicant fails to respond within the designated time period. If the applicant supplies the requested information within the designated time period, the [[Page 28]] creditor shall take action on the application and notify the applicant in accordance with paragraph (a) of this section. (3) Oral request for information. At its option, a creditor may inform the applicant orally of the need for additional information. If the application remains incomplete the creditor shall send a notice in accordance with paragraph (c)(1) of this section. (d) Oral notifications by small-volume creditors. In the case of a creditor that did not receive more than 150 applications during the preceding calendar year, the requirements of this section (including statements of specific reasons) are satisfied by oral notifications. (e) Withdrawal of approved application. When an applicant submits an application and the parties contemplate that the applicant will inquire about its status, if the creditor approves the application and the applicant has not inquired within 30 days after applying, the creditor may treat the application as withdrawn and need not comply with paragraph (a)(1) of this section. (f) Multiple applicants. When an application involves more than one applicant, notification need only be given to one of them but must be given to the primary applicant where one is readily apparent. (g) Applications submitted through a third party. When an application is made on behalf of an applicant to more than one creditor and the applicant expressly accepts or uses credit offered by one of the creditors, notification of action taken by any of the other creditors is not required. If no credit is offered or if the applicant does not expressly accept or use the credit offered, each creditor taking adverse action must comply with this section, directly or through a third party. A notice given by a third party shall disclose the identity of each creditor on whose behalf the notice is given. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 72 FR 63451, Nov. 9, 2007] Sec. 202.10 Furnishing of credit information. (a) Designation of accounts. A creditor that furnishes credit information shall designate: (1) Any new account to reflect the participation of both spouses if the applicant's spouse is permitted to use or is contractually liable on the account (other than as a guarantor, surety, endorser, or similar party); and (2) Any existing account to reflect such participation, within 90 days after receiving a written request to do so from one of the spouses. (b) Routine reports to consumer reporting agency. If a creditor furnishes credit information to a consumer reporting agency concerning an account designated to reflect the participation of both spouses, the creditor shall furnish the information in a manner that will enable the agency to provide access to the information in the name of each spouse. (c) Reporting in response to inquiry. If a creditor furnishes credit information in response to an inquiry, concerning an account designated to reflect the participation of both spouses, the creditor shall furnish the information in the name of the spouse about whom the information is requested. Sec. 202.11 Relation to state law. (a) Inconsistent state laws. Except as otherwise provided in this section, this regulation alters, affects, or preempts only those state laws that are inconsistent with the Act and this regulation and then only to the extent of the inconsistency. A state law is not inconsistent if it is more protective of an applicant. (b) Preempted provisions of state law. (1) A state law is deemed to be inconsistent with the requirements of the Act and this regulation and less protective of an applicant within the meaning of section 705(f) of the Act to the extent that the law: (i) Requires or permits a practice or act prohibited by the Act or this regulation; (ii) Prohibits the individual extension of consumer credit to both parties to a marriage if each spouse individually and voluntarily applies for such credit; (iii) Prohibits inquiries or collection of data required to comply with the Act or this regulation; [[Page 29]] (iv) Prohibits asking about or considering age in an empirically derived, demonstrably and statistically sound, credit scoring system to determine a pertinent element of creditworthiness, or to favor an elderly applicant; or (v) Prohibits inquiries necessary to establish or administer a special purpose credit program as defined by Sec. 202.8. (2) A creditor, state, or other interested party may request that the Board determine whether a state law is inconsistent with the requirements of the Act and this regulation. (c) Laws on finance charges, loan ceilings. If married applicants voluntarily apply for and obtain individual accounts with the same creditor, the accounts shall not be aggregated or otherwise combined for purposes of determining permissible finance charges or loan ceilings under any federal or state law. Permissible loan ceiling laws shall be construed to permit each spouse to become individually liable up to the amount of the loan ceilings, less the amount for which the applicant is jointly liable. (d) State and federal laws not affected. This section does not alter or annul any provision of state property laws, laws relating to the disposition of decedents' estates, or federal or state banking regulations directed only toward insuring the solvency of financial institutions. (e) Exemption for state-regulated transactions--(1) Applications. A state may apply to the Board for an exemption from the requirements of the Act and this regulation for any class of credit transactions within the state. The Board will grant such an exemption if the Board determines that: (i) The class of credit transactions is subject to state law requirements substantially similar to those of the Act and this regulation or that applicants are afforded greater protection under state law; and (ii) There is adequate provision for state enforcement. (2) Liability and enforcement. (i) No exemption will extend to the civil liability provisions of section 706 of the Act or the administrative enforcement provisions of section 704 of the Act. (ii) After an exemption has been granted, the requirements of the applicable state law (except for additional requirements not imposed by federal law) will constitute the requirements of the Act and this regulation. Sec. 202.12 Record retention. (a) Retention of prohibited information. A creditor may retain in its files information that is prohibited by the Act or this regulation for use in evaluating applications, without violating the Act or this regulation, if the information was obtained: (1) From any source prior to March 23, 1977; (2) From consumer reporting agencies, an applicant, or others without the specific request of the creditor; or (3) As required to monitor compliance with the Act and this regulation or other federal or state statutes or regulations. (b) Preservation of records--(1) Applications. For 25 months (12 months for business credit, except as provided in paragraph (b)(5) of this section) after the date that a creditor notifies an applicant of action taken on an application or of incompleteness, the creditor shall retain in original form or a copy thereof: (i) Any application that it receives, any information required to be obtained concerning characteristics of the applicant to monitor compliance with the Act and this regulation or other similar law, and any other written or recorded information used in evaluating the application and not returned to the applicant at the applicant's request; (ii) A copy of the following documents if furnished to the applicant in written form (or, if furnished orally, any notation or memorandum made by the creditor): (A) The notification of action taken; and (B) The statement of specific reasons for adverse action; and (iii) Any written statement submitted by the applicant alleging a violation of the Act or this regulation. (2) Existing accounts. For 25 months (12 months for business credit, except as provided in paragraph (b)(5) of this section) after the date that a creditor [[Page 30]] notifies an applicant of adverse action regarding an existing account, the creditor shall retain as to that account, in original form or a copy thereof: (i) Any written or recorded information concerning the adverse action; and (ii) Any written statement submitted by the applicant alleging a violation of the Act or this regulation. (3) Other applications. For 25 months (12 months for business credit, except as provided in paragraph (b)(5) of this section) after the date that a creditor receives an application for which the creditor is not required to comply with the notification requirements of Sec. 202.9, the creditor shall retain all written or recorded information in its possession concerning the applicant, including any notation of action taken. (4) Enforcement proceedings and investigations. A creditor shall retain the information beyond 25 months (12 months for business credit, except as provided in paragraph (b)(5) of this section) if the creditor has actual notice that it is under investigation or is subject to an enforcement proceeding for an alleged violation of the Act or this part, by the Attorney General of the United States or by an enforcement agency charged with monitoring that creditor's compliance with the Act and this regulation, or if it has been served with notice of an action filed pursuant to section 706 of the Act and Sec. 202.16 of this part. The creditor shall retain the information until final disposition of the matter, unless an earlier time is allowed by order of the agency or court. (5) Special rule for certain business credit applications. With regard to a business that had gross revenues in excess of $1 million in its preceding fiscal year, or an extension of trade credit, credit incident to a factoring agreement, or other similar types of business credit, the creditor shall retain records for at least 60 days after notifying the applicant of the action taken. If within that time period the applicant requests in writing the reasons for adverse action or that records be retained, the creditor shall retain records for 12 months. (6) Self-tests. For 25 months after a self-test (as defined in Sec. 202.15) has been completed, the creditor shall retain all written or recorded information about the self-test. A creditor shall retain information beyond 25 months if it has actual notice that it is under investigation or is subject to an enforcement proceeding for an alleged violation, or if it has been served with notice of a civil action. In such cases, the creditor shall retain the information until final disposition of the matter, unless an earlier time is allowed by the appropriate agency or court order. (7) Prescreened solicitations. For 25 months after the date on which an offer of credit is made to potential customers (12 months for business credit, except as provided in paragraph (b)(5) of this section), the creditor shall retain in original form or a copy thereof: (i) The text of any prescreened solicitation; (ii) The list of criteria the creditor used to select potential recipients of the solicitation; and (iii) Any correspondence related to complaints (formal or informal) about the solicitation. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 76 FR 41599, July 15, 2011] Sec. 202.13 Information for monitoring purposes. (a) Information to be requested. (1) A creditor that receives an application for credit primarily for the purchase or refinancing of a dwelling occupied or to be occupied by the applicant as a principal residence, where the extension of credit will be secured by the dwelling, shall request as part of the application the following information regarding the applicant(s): (i) Ethnicity, using the categories Hispanic or Latino, and not Hispanic or Latino; and race, using the categories American Indian or Alaska Native, Asian, Black or African American, Native Hawaiian or Other Pacific Islander, and White; (ii) Sex; (iii) Marital status, using the categories married, unmarried, and separated; and (iv) Age. (2) Dwelling means a residential structure that contains one to four units, whether or not that structure is [[Page 31]] attached to real property. The term includes, but is not limited to, an individual condominium or cooperative unit and a mobile or other manufactured home. (b) Obtaining information. Questions regarding ethnicity, race, sex, marital status, and age may be listed, at the creditor's option, on the application form or on a separate form that refers to the application. The applicant(s) shall be asked but not required to supply the requested information. If the applicant(s) chooses not to provide the information or any part of it, that fact shall be noted on the form. The creditor shall then also note on the form, to the extent possible, the ethnicity, race, and sex of the applicant(s) on the basis of visual observation or surname. (c) Disclosure to applicant(s). The creditor shall inform the applicant(s) that the information regarding ethnicity, race, sex, marital status, and age is being requested by the federal government for the purpose of monitoring compliance with federal statutes that prohibit creditors from discriminating against applicants on those bases. The creditor shall also inform the applicant(s) that if the applicant(s) chooses not to provide the information, the creditor is required to note the ethnicity, race and sex on the basis of visual observation or surname. (d) Substitute monitoring program. A monitoring program required by an agency charged with administrative enforcement under section 704 of the Act may be substituted for the requirements contained in paragraphs (a), (b), and (c) of this section. Sec. 202.14 Rules on providing appraisal reports. (a) Providing appraisals. A creditor shall provide a copy of an appraisal report used in connection with an application for credit that is to be secured by a lien on a dwelling. A creditor shall comply with either paragraph (a)(1) or (a)(2) of this section. (1) Routine delivery. A creditor may routinely provide a copy of an appraisal report to an applicant (whether credit is granted or denied or the application is withdrawn). (2) Upon request. A creditor that does not routinely provide appraisal reports shall provide a copy upon an applicant's written request. (i) Notice. A creditor that provides appraisal reports only upon request shall notify an applicant in writing of the right to receive a copy of an appraisal report. The notice may be given at any time during the application process but no later than when the creditor provides notice of action taken under Sec. 202.9 of this regulation. The notice shall specify that the applicant's request must be in writing, give the creditor's mailing address, and state the time for making the request as provided in paragraph (a)(2)(ii) of this section. (ii) Delivery. A creditor shall mail or deliver a copy of the appraisal report promptly (generally within 30 days) after the creditor receives an applicant's request, receives the report, or receives reimbursement from the applicant for the report, whichever is last to occur. A creditor need not provide a copy when the applicant's request is received more than 90 days after the creditor has provided notice of action taken on the application under Sec. 202.9 of this regulation or 90 days after the application is withdrawn. (b) Credit unions. A creditor that is subject to the regulations of the National Credit Union Administration on making copies of appraisal reports available is not subject to this section. (c) Definitions. For purposes of paragraph (a) of this section, the term dwelling means a residential structure that contains one to four units whether or not that structure is attached to real property. The term includes, but is not limited to, an individual condominium or cooperative unit, and a mobile or other manufactured home. The term appraisal report means the document(s) relied upon by a creditor in evaluating the value of the dwelling. Sec. 202.15 Incentives for self-testing and self-correction. (a) General rules--(1) Voluntary self-testing and correction. The report or results of a self-test that a creditor voluntarily conducts (or authorizes) are privileged as provided in this section. Data collection required by law or by any governmental authority is not a voluntary self-test. [[Page 32]] (2) Corrective action required. The privilege in this section applies only if the creditor has taken or is taking appropriate corrective action. (3) Other privileges. The privilege created by this section does not preclude the assertion of any other privilege that may also apply. (b) Self-test defined--(1) Definition. A self-test is any program, practice, or study that: (i) Is designed and used specifically to determine the extent or effectiveness of a creditor's compliance with the Act or this regulation; and (ii) Creates data or factual information that is not available and cannot be derived from loan or application files or other records related to credit transactions. (2) Types of information privileged. The privilege under this section applies to the report or results of the self-test, data or factual information created by the self-test, and any analysis, opinions, and conclusions pertaining to the self-test report or results. The privilege covers workpapers or draft documents as well as final documents. (3) Types of information not privileged. The privilege under this section does not apply to: (i) Information about whether a creditor conducted a self-test, the methodology used or the scope of the self-test, the time period covered by the self-test, or the dates it was conducted; or (ii) Loan and application files or other business records related to credit transactions, and information derived from such files and records, even if the information has been aggregated, summarized, or reorganized to facilitate analysis. (c) Appropriate corrective action--(1) General requirement. For the privilege in this section to apply, appropriate corrective action is required when the self-test shows that it is more likely than not that a violation occurred, even though no violation has been formally adjudicated. (2) Determining the scope of appropriate corrective action. A creditor must take corrective action that is reasonably likely to remedy the cause and effect of a likely violation by: (i) Identifying the policies or practices that are the likely cause of the violation; and (ii) Assessing the extent and scope of any violation. (3) Types of relief. Appropriate corrective action may include both prospective and remedial relief, except that to establish a privilege under this section: (i) A creditor is not required to provide remedial relief to a tester used in a self-test; (ii) A creditor is only required to provide remedial relief to an applicant identified by the self-test as one whose rights were more likely than not violated; and (iii) A creditor is not required to provide remedial relief to a particular applicant if the statute of limitations applicable to the violation expired before the creditor obtained the results of the self- test or the applicant is otherwise ineligible for such relief. (4) No admission of violation. Taking corrective action is not an admission that a violation occurred. (d) Scope of privilege--(1) General rule. The report or results of a privileged self-test may not be obtained or used: (i) By a government agency in any examination or investigation relating to compliance with the Act or this regulation; or (ii) By a government agency or an applicant (including a prospective applicant who alleges a violation of Sec. 202.4(b)) in any proceeding or civil action in which a violation of the Act or this regulation is alleged. (2) Loss of privilege. The report or results of a self-test are not privileged under paragraph (d)(1) of this section if the creditor or a person with lawful access to the report or results: (i) Voluntarily discloses any part of the report or results, or any other information privileged under this section, to an applicant or government agency or to the public; (ii) Discloses any part of the report or results, or any other information privileged under this section, as a defense to charges that the creditor has violated the Act or regulation; or (iii) Fails or is unable to produce written or recorded information about [[Page 33]] the self-test that is required to be retained under Sec. 202.12(b)(6) when the information is needed to determine whether the privilege applies. This paragraph does not limit any other penalty or remedy that may be available for a violation of Sec. 202.12. (3) Limited use of privileged information. Notwithstanding paragraph (d)(1) of this section, the self-test report or results and any other information privileged under this section may be obtained and used by an applicant or government agency solely to determine a penalty or remedy after a violation of the Act or this regulation has been adjudicated or admitted. Disclosures for this limited purpose may be used only for the particular proceeding in which the adjudication or admission was made. Information disclosed under this paragraph (d)(3) remains privileged under paragraph (d)(1) of this section. Sec. 202.16 Enforcement, penalties and liabilities. (a) Administrative enforcement. (1) As set forth more fully in section 704 of the Act, administrative enforcement of the Act and this regulation regarding certain creditors is assigned to the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Board of Directors of the Federal Deposit Insurance Corporation, Office of Thrift Supervision, National Credit Union Administration, Surface Transportation Board, Secretary of Agriculture, Farm Credit Administration, Securities and Exchange Commission, Small Business Administration, and Secretary of Transportation. (2) Except to the extent that administrative enforcement is specifically assigned to other authorities, compliance with the requirements imposed under the Act and this regulation is enforced by the Federal Trade Commission. (b) Penalties and liabilities. (1) Sections 702(g) and 706(a) and (b) of the Act provide that any creditor that fails to comply with a requirement imposed by the Act or this regulation is subject to civil liability for actual and punitive damages in individual or class actions. Pursuant to sections 702(g) and 704(b), (c), and (d) of the Act, violations of the Act or this regulation also constitute violations of other federal laws. Liability for punitive damages can apply only to nongovernmental entities and is limited to $10,000 in individual actions and the lesser of $500,000 or 1 percent of the creditor's net worth in class actions. Section 706(c) provides for equitable and declaratory relief and section 706(d) authorizes the awarding of costs and reasonable attorney's fees to an aggrieved applicant in a successful action. (2) As provided in section 706(f), a civil action under the Act or this regulation may be brought in the appropriate United States district court without regard to the amount in controversy or in any other court of competent jurisdiction within two years after the date of the occurrence of the violation, or within one year after the commencement of an administrative enforcement proceeding or of a civil action brought by the Attorney General of the United States within two years after the alleged violation. (3) If an agency responsible for administrative enforcement is unable to obtain compliance with the Act or this regulation, it may refer the matter to the Attorney General of the United States. If the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, or the National Credit Union Administration has reason to believe that one or more creditors have engaged in a pattern or practice of discouraging or denying applications in violation of the Act or this regulation, the agency shall refer the matter to the Attorney General. If the agency has reason to believe that one or more creditors violated section 701(a) of the Act, the agency may refer a matter to the Attorney General. (4) On referral, or whenever the Attorney General has reason to believe that one or more creditors have engaged in a pattern or practice in violation of the Act or this regulation, the Attorney General may bring a civil action for such relief as may be appropriate, including actual and punitive damages and injunctive relief. (5) If the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, or the National [[Page 34]] Credit Union Administration has reason to believe (as a result of a consumer complaint, a consumer compliance examination, or some other basis) that a violation of the Act or this regulation has occurred which is also a violation of the Fair Housing Act, and the matter is not referred to the Attorney General, the agency shall: (i) Notify the Secretary of Housing and Urban Development; and (ii) Inform the applicant that the Secretary of Housing and Urban Development has been notified and that remedies may be available under the Fair Housing Act. (c) Failure of compliance. A creditor's failure to comply with Sec. Sec. 202.6(b)(6), 202.9, 202.10, 202.12 or 202.13 is not a violation if it results from an inadvertent error. On discovering an error under Sec. Sec. 202.9 and 202.10, the creditor shall correct it as soon as possible. If a creditor inadvertently obtains the monitoring information regarding the ethnicity, race, and sex of the applicant in a dwelling-related transaction not covered by Sec. 202.13, the creditor may retain information and act on the application without violating the regulation. [Reg. B, 68 FR 13161, Mar. 18, 2003. Redesignated at 72 FR 63451, Nov. 9, 2007] Sec. 202.17 Data collection for credit applications by women-owned, minority-owned, or small businesses. No motor vehicle dealer covered by section 1029(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 12 U.S.C. 5519(a), shall be required to comply with the requirements of section 704B of the Equal Credit Opportunity Act, 15 U.S.C. 1691c-2, until the effective date of final rules issued by the Board to implement section 704B of the Act, 15 U.S.C. 1691c-2. This paragraph shall not be construed to affect the effective date of section 704B of the Act for any person other than a motor vehicle dealer covered by section 1029(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. [Reg. B, 76 FR 59239, Sept. 26, 2011] Sec. Appendix A to Part 202--Federal Enforcement Agencies The following list indicates the federal agencies that enforce Regulation B for particular classes of creditors. Any questions concerning a particular creditor should be directed to its enforcement agency. Terms that are not defined in the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in the International Banking Act of 1978 (12 U.S.C. 3101). National banks, and federal branches and federal agencies of foreign banks: Office of the Comptroller of the Currency, Customer Assistance Group, 1301 McKinney Street, Suite 3450, Houston, TX 77010-9050 State member banks, branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act: Federal Reserve Consumer Help Center, P.O. Box 1200, Minneapolis, MN 55480. Nonmember Insured Banks and Insured State Branches of Foreign Banks: FDIC Consumer Response Center, 1100 Walnut Street, Box 11, Kansas City, MO 64106. Savings institutions under the Savings Association Insurance Fund of the FDIC and federally chartered savings banks insured under the Bank Insurance Fund of the FDIC (but not including state-chartered savings banks insured under the Bank Insurance Fund): Office of Thrift Supervision, Consumer Response Unit, 1700 G Street, NW., Washington, DC 20552. Federal Credit Unions: Regional office of the National Credit Union Administration serving the area in which the federal credit union is located. Air carriers: Assistant General Counsel for Aviation Enforcement and Proceedings, Department of Transportation, 400 Seventh Street, SW., Washington, DC 20590 Creditors Subject to Surface Transportation Board: Office of Proceedings, Surface Transportation Board, Department of Transportation, 1925 K Street NW., Washington, DC 20423 Creditors Subject to Packers and Stockyards Act: Nearest Packers and Stockyards Administration area supervisor. Small Business Investment Companies: Associate Deputy Administrator for Capital Access, United States Small Business Administration, 409 Third Street, SW., 8th Floor, Washington, DC 20416. Brokers and Dealers: Securities and Exchange Commission, Washington, DC 20549. Federal Land Banks, Federal Land Bank Associations, Federal Intermediate Credit Banks, and Production Credit Associations: Farm Credit Administration, 1501 Farm Credit Drive, McLean, VA 22102-5090. [[Page 35]] Retailers, Finance Companies, and All Other Creditors Not Listed Above: FTC Regional Office for region in which the creditor operates or Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 71 FR 11296, Mar. 7, 2006; 71 FR 28563, May 17, 2006; 72 FR 55020, Sept. 28, 2007; 73 FR 33663, June 13, 2008; 73 FR 53685, Sept. 17, 2008; 76 FR 31451, June 1, 2011] Sec. Appendix B to Part 202--Model Application Forms 1. This appendix contains five model credit application forms, each designated for use in a particular type of consumer credit transaction as indicated by the bracketed caption on each form. The first sample form is intended for use in open-end, unsecured transactions; the second for closed-end, secured transactions; the third for closed-end transactions, whether unsecured or secured; the fourth in transactions involving community property or occurring in community property states; and the fifth in residential mortgage transactions which contains a model disclosure for use in complying with Sec. 202.13 for certain dwelling-related loans. All forms contained in this appendix are models; their use by creditors is optional. 2. The use or modification of these forms is governed by the following instructions. A creditor may change the forms: by asking for additional information not prohibited by Sec. 202.5; by deleting any information request; or by rearranging the format without modifying the substance of the inquiries. In any of these three instances, however, the appropriate notices regarding the optional nature of courtesy titles, the option to disclose alimony, child support, or separate maintenance, and the limitation concerning marital status inquiries must be included in the appropriate places if the items to which they relate appear on the creditor's form. 3. If a creditor uses an appropriate Appendix B model form, or modifies a form in accordance with the above instructions, that creditor shall be deemed to be acting in compliance with the provisions of paragraphs (b), (c) and (d) of Sec. 202.5 of this regulation. [[Page 36]] [GRAPHIC] [TIFF OMITTED] TR18MR03.096 [[Page 37]] [GRAPHIC] [TIFF OMITTED] TR18MR03.097 [[Page 38]] [GRAPHIC] [TIFF OMITTED] TR18MR03.098 [[Page 39]] [GRAPHIC] [TIFF OMITTED] TR18MR03.099 [[Page 40]] [GRAPHIC] [TIFF OMITTED] TR18MR03.100 [[Page 41]] [GRAPHIC] [TIFF OMITTED] TR18MR03.101 [[Page 42]] [GRAPHIC] [TIFF OMITTED] TR18MR03.102 [[Page 43]] [GRAPHIC] [TIFF OMITTED] TR18MR03.103 [[Page 44]] [GRAPHIC] [TIFF OMITTED] TR11SE03.045 [[Page 45]] [GRAPHIC] [TIFF OMITTED] TR11SE03.046 [[Page 46]] [GRAPHIC] [TIFF OMITTED] TR11SE03.047 [[Page 47]] [GRAPHIC] [TIFF OMITTED] TR11SE03.048 [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 68 FR 53491, Sept. 11, 2003] [[Page 48]] Sec. Appendix C to Part 202--Sample Notification Forms 1. This appendix contains ten sample notification forms. Forms C-1 through C-4 are intended for use in notifying an applicant that adverse action has been taken on an application or account under Sec. Sec. 202.9(a)(1) and (2)(i) of this regulation. Form C-5 is a notice of disclosure of the right to request specific reasons for adverse action under Sec. Sec. 202.9(a)(1) and (2)(ii). Form C-6 is designed for use in notifying an applicant, under Sec. 202.9(c)(2), that an application is incomplete. Forms C-7 and C-8 are intended for use in connection with applications for business credit under Sec. 202.9(a)(3). Form C-9 is designed for use in notifying an applicant of the right to receive a copy of an appraisal under Sec. 202.14. Form C-10 is designed for use in notifying an applicant for nonmortgage credit that the creditor is requesting applicant characteristic information. 2. Form C-1 contains the Fair Credit Reporting Act disclosure as required by sections 615(a) and (b) of that act. Forms C-2 through C-5 contain only the section 615(a) disclosure (that a creditor obtained information from a consumer reporting agency that was considered in the credit decision and, as applicable, a credit score used in taking adverse action along with related information). A creditor must provide the section 615(a) disclosure when adverse action is taken against a consumer based on information from a consumer reporting agency. A creditor must provide the section 615(b) disclosure when adverse action is taken based on information from an outside source other than a consumer reporting agency. In addition, a creditor must provide the section 615(b) disclosure if the creditor obtained information from an affiliate other than information in a consumer report or other than information concerning the affiliate's own transactions or experiences with the consumer. Creditors may comply with the disclosure requirements for adverse action based on information in a consumer report obtained from an affiliate by providing either the section 615(a) or section 615(b) disclosure. Optional language in Forms C-1 through C-5 may be used to direct the consumer to the entity that provided the credit score for any questions about the credit score, along with the entity's contact information. Creditors may use or not use this additional language without losing the safe harbor, since the language is optional. 3. The sample forms are illustrative and may not be appropriate for all creditors. They were designed to include some of the factors that creditors most commonly consider. If a creditor chooses to use the checklist of reasons provided in one of the sample forms in this appendix and if reasons commonly used by the creditor are not provided on the form, the creditor should modify the checklist by substituting or adding other reasons. For example, if ``inadequate down payment'' or ``no deposit relationship with us'' are common reasons for taking adverse action on an application, the creditor ought to add or substitute such reasons for those presently contained on the sample forms. 4. If the reasons listed on the forms are not the factors actually used, a creditor will not satisfy the notice requirement by simply checking the closest identifiable factor listed. For example, some creditors consider only references from banks or other depository institutions and disregard finance company references altogether; their statement of reasons should disclose ``insufficient bank references,'' not ``insufficient credit references.'' Similarly, a creditor that considers bank references and other credit references as distinct factors should treat the two factors separately and disclose them as appropriate. The creditor should either add such other factors to the form or check ``other'' and include the appropriate explanation. The creditor need not, however, describe how or why a factor adversely affected the application. For example, the notice may say ``length of residence'' rather than ``too short a period of residence.'' 5. A creditor may design its own notification forms or use all or a portion of the forms contained in this appendix. Proper use of Forms C-1 through C-4 will satisfy the requirement of Sec. 202.9(a)(2)(i). Proper use of Forms C-5 and C-6 constitutes full compliance with Sec. Sec. 202.9(a)(2)(ii) and 202.9(c)(2), respectively. Proper use of Forms C-7 and C-8 will satisfy the requirements of Sec. 202.9(a)(2)(i) and (ii), respectively, for applications for business credit. Proper use of Form C-9 will satisfy the requirements of Sec. 202.14 of this part. Proper use of Form C-10 will satisfy the requirements of Sec. 202.5(b)(1). Form C-1--Sample Notice of Action Taken and Statement of Reasons Statement of Credit Denial, Termination or Change Date:___________________________________________________________________ Applicant's Name:_______________________________________________________ Applicant's Address:____________________________________________________ Description of Account, Transaction, or Requested Credit: ________________________________________________________________________ ________________________________________________________________________ Description of Action Taken: ________________________________________________________________________ ________________________________________________________________________ Part I--Principal Reason(s) for Credit Denial, Termination, or Other Action Taken Concerning Credit This section must be completed in all instances. [[Page 49]] ____Credit application incomplete ____Insufficient number of credit references provided ____Unacceptable type of credit references provided ____Unable to verify credit references ____Temporary or irregular employment ____Unable to verify employment ____Length of employment ____Income insufficient for amount of credit requested ____Excessive obligations in relation to income ____Unable to verify income ____Length of residence ____Temporary residence ____Unable to verify residence ____No credit file ____Limited credit experience ____Poor credit performance with us ____Delinquent past or present credit obligations with others ____Collection action or judgment ____Garnishment or attachment ____Foreclosure or repossession ____Bankruptcy ____Number of recent inquiries on credit bureau report ____Value or type of collateral not sufficient ____Other, specify:____________ Part II--Disclosure of Use of Information Obtained From an Outside Source This section should be completed if the credit decision was based in whole or in part on information that has been obtained from an outside source. ____Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency listed below. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. Name:___________________________________________________________________ Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number___________________________________________ [We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:____________ Date:____________ Scores range from a low of____________to a high of____________ Key factors that adversely affected your credit score: ____________ ____________ ____________ ____________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:___________________________________________ ____Our credit decision was based in whole or in part on information obtained from an affiliate or from an outside source other than a consumer reporting agency. Under the Fair Credit Reporting Act, you have the right to make a written request, no later than 60 days after you receive this notice, for disclosure of the nature of this information. If you have any questions regarding this notice, you should contact: Creditor's name:________________________________________________________ Creditor's address:_____________________________________________________ Creditor's telephone number:____________________________________________ Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is (name and address as specified by the appropriate agency listed in appendix A). Form C-2--Sample Notice of Action Taken and Statement of Reasons Date Dear Applicant: Thank you for your recent application. Your request for [a loan/a credit card/an increase in your credit limit] was carefully considered, and we regret that we are unable to approve your application at this time, for the following reason(s): Your Income: ____is below our minimum requirement. ____is insufficient to sustain payments on the amount of credit requested. ____could not be verified. Your Employment: ____is not of sufficient length to qualify. ____could not be verified. [[Page 50]] Your Credit History: ____of making payments on time was not satisfactory. ____could not be verified. Your Application: ____lacks a sufficient number of credit references. ____lacks acceptable types of credit references. ____reveals that current obligations are excessive in relation to income. Other:__________________________________________________________________ The consumer reporting agency contacted that provided information that influenced our decision in whole or in part was [name, address and [toll-free] telephone number of the reporting agency]. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. Any questions regarding such information should be directed to [consumer reporting agency]. If you have any questions regarding this letter, you should contact us at [creditor's name, address and telephone number]. [We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:______________________________________________________ Date:___________________________________________________________________ Scores range from a low of____________to a high of____________ Key factors that adversely affected your credit score: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:____________________]] Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is (name and address as specified by the appropriate agency listed in appendix A). Form C-3--Sample Notice of Action Taken and Statement of Reasons [(Credit Scoring)] Date Dear Applicant: Thank you for your recent application for ________. We regret that we are unable to approve your request. [Reasons for Denial of Credit] Your application was processed by a [credit scoring] system that assigns a numerical value to the various items of information we consider in evaluating an application. These numerical values are based upon the results of analyses of repayment histories of large numbers of customers. The information you provided in your application did not score a sufficient number of points for approval of the application. The reasons you did not score well compared with other applicants were Insufficient bank references Type of occupation Insufficient credit experience Number of recent inquiries on credit bureau report [Your Right to Get Your Consumer Report] In evaluating your application the consumer reporting agency listed below provided us with information that in whole or in part influenced our decision. The consumer reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. It can be obtained by contacting: [name, address, and [toll-free] telephone number of the consumer reporting agency]. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. [Information about Your Credit Score] We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit [[Page 51]] score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:______________________________________________________ Date:___________________________________________________________________ Scores range from a low of ________to a high of________ Key factors that adversely affected your credit score: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:____________________]] If you have any questions regarding this letter, you should contact us at Creditor's Name:________________________________________________________ Address:________________________________________________________________ ________________________________________________________________________ Telephone:______________________________________________________________ Sincerely, Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (with certain limited exceptions); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is (name and address as specified by the appropriate agency listed in appendix A). Form C-4--Sample Notice of Action Taken, Statement of Reasons and Counteroffer Date Dear Applicant: Thank you for your application for ________. We are unable to offer you credit on the terms that you requested for the following reason(s): ________________________________________________________________________ We can, however, offer you credit on the following terms: ________________________________________________________________________ If this offer is acceptable to you, please notify us within [amount of time] at the following address: ________. Our credit decision on your application was based in whole or in part on information obtained in a report from [name, address and [toll- free] telephone number of the consumer reporting agency]. You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. [We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:______________________________________________________ Date____________________________________________________________________ Scores range from a low of ____________ to a high of ____________ Key factors that adversely affected your credit score: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:____________________]] You should know that the federal Equal Credit Opportunity Act prohibits creditors, such as ourselves, from discriminating against credit applicants on the basis of their race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract), because they receive income from a public assistance program, or because they may have exercised their rights under the Consumer Credit Protection Act. If you believe there has been discrimination in handling your application you should contact the [name and address of the appropriate federal enforcement agency listed in appendix A]. Sincerely, [[Page 52]] Form C-5--Sample Disclosure of Right to Request Specific Reasons for Credit Denial Date Dear Applicant: Thank you for applying to us for ________. After carefully reviewing your application, we are sorry to advise you that we cannot [open an account for you/grant a loan to you/increase your credit limit] at this time. If you would like a statement of specific reasons why your application was denied, please contact [our credit service manager] shown below within 60 days of the date of this letter. We will provide you with the statement of reasons within 30 days after receiving your request. Creditor's Name Address Telephone Number If we obtained information from a consumer reporting agency as part of our consideration of your application, its name, address, and [toll- free] telephone number is shown below. The reporting agency played no part in our decision and is unable to supply specific reasons why we have denied credit to you. [You have a right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency.] You have a right to a free copy of your report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report you received is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. You can find out about the information contained in your file (if one was used) by contacting: Consumer reporting agency's name Address [Toll-free] Telephone number [We also obtained your credit score from this consumer reporting agency and used it in making our credit decision. Your credit score is a number that reflects the information in your consumer report. Your credit score can change, depending on how the information in your consumer report changes. Your credit score:______________________________________________________ Date:___________________________________________________________________ Scores range from a low of ____________ to a high of ____________ Key factors that adversely affected your credit score: ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ ________________________________________________________________________ [Number of recent inquiries on consumer report, as a key factor] [If you have any questions regarding your credit score, you should contact [entity that provided the credit score] at: Address:________________________________________________________________ ________________________________________________________________________ [Toll-free] Telephone number:____________________]] Sincerely, Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is (name and address as specified by the appropriate agency listed in appendix A). Form C-6--Sample Notice of Incomplete Application and Request for Additional Information Creditor's name Address Telephone number Date Dear Applicant: Thank you for your application for credit. The following information is needed to make a decision on your application: __________ ________________________________________________________________________ We need to receive this information by __________(date). If we do not receive it by that date, we will regrettably be unable to give further consideration to your credit request. Sincerely, Form C-7--Sample Notice of Action Taken and Statement of Reasons (Business Credit) Creditor's Name Creditor's address Date Dear Applicant: Thank you for applying to us for credit. We have given your request careful consideration, and regret that we are unable to extend credit to you at this time for the following reasons: (Insert appropriate reason, such as: Value or type of collateral not sufficient; Lack of established earnings record; Slow or past due in trade or loan payments) Sincerely, Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant [[Page 53]] has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is [name and address as specified by the appropriate agency listed in appendix A]. Form C-8--Sample Disclosure of Right To Request Specific Reasons for Credit Denial Given at Time of Application (Business Credit) Creditor's name Creditor's address If your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please contact [name, address and telephone number of the person or office from which the statement of reasons can be obtained] within 60 days from the date you are notified of our decision. We will send you a written statement of reasons for the denial within 30 days of receiving your request for the statement. Notice: The federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is [name and address as specified by the appropriate agency listed in appendix A]. Form C-9--Sample Disclosure of Right To Receive a Copy of an Appraisal You have the right to a copy of the appraisal report used in connection with your application for credit. If you wish a copy, please write to us at the mailing address we have provided. We must hear from you no later than 90 days after we notify you about the action taken on your credit application or you withdraw your application. [In your letter, give us the following information:] Form C-10--Sample Disclosure About Voluntary Data Notation We are requesting the following information to monitor our compliance with the federal Equal Credit Opportunity Act, which prohibits unlawful discrimination. You are not required to provide this information. We will not take this information (or your decision not to provide this information) into account in connection with your application or credit transaction. The law provides that a creditor may not discriminate based on this information, or based on whether or not you choose to provide it. [If you choose not to provide the information, we will note it by visual observation or surname]. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 76 FR 41600, July 15, 2011] Sec. Appendix D to Part 202--Issuance of Staff Interpretations 1. Official Staff Interpretations. Officials in the Board's Division of Consumer and Community Affairs are authorized to issue official staff interpretations of this regulation. These interpretations provide the protection afforded under section 706(e) of the Act. Except in unusual circumstances, such interpretations will not be issued separately but will be incorporated in an official commentary to the regulation, which will be amended periodically. 2. Requests for Issuance of Official Staff Interpretations. A request for an official staff interpretation should be in writing and addressed to the Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551. The request should contain a complete statement of all relevant facts concerning the issue, including copies of all pertinent documents. 3. Scope of Interpretations. No staff interpretations will be issued approving creditors' forms or statements. This restriction does not apply to forms or statements whose use is required or sanctioned by a government agency. Sec. Supplement I to Part 202--Official Staff Interpretations Following is an official staff interpretation of Regulation B (12 CFR part 202) issued under authority delegated by the Federal Reserve Board to officials in the Division of Consumer and Community Affairs. References are to sections of the regulation or the Equal Credit Opportunity Act (15 U.S.C. 1601 et seq.). Introduction 1. Official status. Section 706(e) of the Equal Credit Opportunity Act protects a creditor from civil liability for any act done or omitted in good faith in conformity with an interpretation issued by a duly authorized official of the Federal Reserve Board. This commentary is the means by which the Division of Consumer and Community Affairs of the Federal Reserve Board issues official staff interpretations of Regulation B. Good-faith compliance with this commentary affords a [[Page 54]] creditor protection under section 706(e) of the Act. 2. Issuance of interpretations. Under Appendix D to the regulation, any person may request an official staff interpretation. Interpretations will be issued at the discretion of designated officials and incorporated in this commentary following publication for comment in the Federal Register. Except in unusual circumstances, official staff interpretations will be issued only by means of this commentary. 3. Status of previous interpretations. Interpretations of Regulation B previously issued by the Federal Reserve Board and its staff have been incorporated into this commentary as appropriate. All other previous Board and staff interpretations, official and unofficial, are superseded by this commentary. 4. Footnotes. Footnotes in the regulation have the same legal effect as the text of the regulation, whether they are explanatory or illustrative in nature. 5. Comment designations. The comments are designated with as much specificity as possible according to the particular regulatory provision addressed. Each comment in the commentary is identified by a number and the regulatory section or paragraph that it interprets. For example, comments to Sec. 202.2(c) are further divided by subparagraph, such as comment 2(c)(1)(ii)-1 and comment 2(c)(2)(ii)-1. Section 202.1--Authority, Scope, and Purpose 1(a) Authority and scope. 1. Scope. The Equal Credit Opportunity Act and Regulation B apply to all credit--commercial as well as personal--without regard to the nature or type of the credit or the creditor. If a transaction provides for the deferral of the payment of a debt, it is credit covered by Regulation B even though it may not be a credit transaction covered by Regulation Z (Truth in Lending) (12 CFR part 226). Further, the definition of creditor is not restricted to the party or person to whom the obligation is initially payable, as is the case under Regulation Z. Moreover, the Act and regulation apply to all methods of credit evaluation, whether performed judgmentally or by use of a credit scoring system. 2. Foreign applicability. Regulation B generally does not apply to lending activities that occur outside the United States. The regulation does apply to lending activities that take place within the United States (as well as the Commonwealth of Puerto Rico and any territory or possession of the United States), whether or not the applicant is a citizen. 3. Board. The term Board, as used in this regulation, means the Board of Governors of the Federal Reserve System. Section 202.2--Definitions 2(c) Adverse action. Paragraph 2(c)(1)(i) 1. Application for credit. If the applicant applied in accordance with the creditor's procedures, a refusal to refinance or extend the term of a business or other loan is adverse action. Paragraph 2(c)(1)(ii) 1. Move from service area. If a credit card issuer terminates the open-end account of a customer because the customer has moved out of the card issuer's service area, the termination is adverse action unless termination on this ground was explicitly provided for in the credit agreement between the parties. In cases where termination is adverse action, notification is required under Sec. 202.9. 2. Termination based on credit limit. If a creditor terminates credit accounts that have low credit limits (for example, under $400) but keeps open accounts with higher credit limits, the termination is adverse action and notification is required under Sec. 202.9. Paragraph 2(c)(2)(ii) 1. Default--exercise of due-on-sale clause. If a mortgagor sells or transfers mortgaged property without the consent of the mortgagee, and the mortgagee exercises its contractual right to accelerate the mortgage loan, the mortgagee may treat the mortgagor as being in default. An adverse action notice need not be given to the mortgagor or the transferee. (See comment 2(e)-1 for treatment of a purchaser who requests to assume the loan.) 2. Current delinquency or default. The term adverse action does not include a creditor's termination of an account when the accountholder is currently in default or delinquent on that account. Notification in accordance with Sec. 202.9 of the regulation generally is required, however, if the creditor's action is based on a past delinquency or default on the account. Paragraph 2(c)(2)(iii) 1. Point-of-sale transactions. Denial of credit at point of sale is not adverse action except under those circumstances specified in the regulation. For example, denial at point of sale is not adverse action in the following situations: i. A credit cardholder presents an expired card or a card that has been reported to the card issuer as lost or stolen. ii. The amount of a transaction exceeds a cash advance or credit limit. iii. The circumstances (such as excessive use of a credit card in a short period of time) suggest that fraud is involved. [[Page 55]] iv. The authorization facilities are not functioning. v. Billing statements have been returned to the creditor for lack of a forwarding address. 2. Application for increase in available credit. A refusal or failure to authorize an account transaction at the point of sale or loan is not adverse action except when the refusal is a denial of an application, submitted in accordance with the creditor's procedures, for an increase in the amount of credit. Paragraph 2(c)(2)(v) 1. Terms of credit versus type of credit offered. When an applicant applies for credit and the creditor does not offer the credit terms requested by the applicant (for example, the interest rate, length of maturity, collateral, or amount of downpayment), a denial of the application for that reason is adverse action (unless the creditor makes a counteroffer that is accepted by the applicant) and the applicant is entitled to notification under Sec. 202.9. 2(e) Applicant. 1. Request to assume loan. If a mortgagor sells or transfers the mortgaged property and the buyer makes an application to the creditor to assume the mortgage loan, the mortgagee must treat the buyer as an applicant unless its policy is not to permit assumptions. 2(f) Application. 1. General. A creditor has the latitude under the regulation to establish its own application process and to decide the type and amount of information it will require from credit applicants. 2. Procedures used. The term ``procedures'' refers to the actual practices followed by a creditor for making credit decisions as well as its stated application procedures. For example, if a creditor's stated policy is to require all applications to be in writing on the creditor's application form, but the creditor also makes credit decisions based on oral requests, the creditor's procedures are to accept both oral and written applications. 3. When an inquiry or prequalification request becomes an application. A creditor is encouraged to provide consumers with information about loan terms. However, if in giving information to the consumer the creditor also evaluates information about the consumer, decides to decline the request, and communicates this to the consumer, the creditor has treated the inquiry or prequalification request as an application and must then comply with the notification requirements under Sec. 202.9. Whether the inquiry or prequalification request becomes an application depends on how the creditor responds to the consumer, not on what the consumer says or asks. (See comment 9-5 for further discussion of prequalification requests; see comment 2(f)-5 for a discussion of preapproval requests.) 4. Examples of inquiries that are not applications. The following examples illustrate situations in which only an inquiry has taken place: i. A consumer calls to ask about loan terms and an employee explains the creditor's basic loan terms, such as interest rates, loan-to-value ratio, and debt-to-income ratio. ii. A consumer calls to ask about interest rates for car loans, and, in order to quote the appropriate rate, the loan officer asks for the make and sales price of the car and the amount of the downpayment, then gives the consumer the rate. iii. A consumer asks about terms for a loan to purchase a home and tells the loan officer her income and intended downpayment, but the loan officer only explains the creditor's loan-to-value ratio policy and other basic lending policies, without telling the consumer whether she qualifies for the loan. iv. A consumer calls to ask about terms for a loan to purchase vacant land and states his income and the sales price of the property to be financed, and asks whether he qualifies for a loan; the employee responds by describing the general lending policies, explaining that he would need to look at all of the consumer's qualifications before making a decision, and offering to send an application form to the consumer. 5. Examples of an application. An application for credit includes the following situations: i. A person asks a financial institution to ``preapprove'' her for a loan (for example, to finance a house or a vehicle she plans to buy) and the institution reviews the request under a program in which the institution, after a comprehensive analysis of her creditworthiness, issues a written commitment valid for a designated period of time to extend a loan up to a specified amount. The written commitment may not be subject to conditions other than conditions that require the identification of adequate collateral, conditions that require no material change in the applicant's financial condition or creditworthiness prior to funding the loan, and limited conditions that are not related to the financial condition or creditworthiness of the applicant that the lender ordinarily attaches to a traditional application (such as certification of a clear termite inspection for a home purchase loan, or a maximum mileage requirement for a used car loan). But if the creditor's program does not provide for giving written commitments, requests for preapprovals are treated as prequalification requests for purposes of the regulation. ii. Under the same facts as above, the financial institution evaluates the person's [[Page 56]] creditworthiness and determines that she does not qualify for a preapproval. 6. Completed application--diligence requirement. The regulation defines a completed application in terms that give a creditor the latitude to establish its own information requirements. Nevertheless, the creditor must act with reasonable diligence to collect information needed to complete the application. For example, the creditor should request information from third parties, such as a credit report, promptly after receiving the application. If additional information is needed from the applicant, such as an address or a telephone number to verify employment, the creditor should contact the applicant promptly. (But see comment 9(a)(1)-3, which discusses the creditor's option to deny an application on the basis of incompleteness.) 2(g) Business credit. 1. Definition. The test for deciding whether a transaction qualifies as business credit is one of primary purpose. For example, an open-end credit account used for both personal and business purposes is not business credit unless the primary purpose of the account is business- related. A creditor may rely on an applicant's statement of the purpose for the credit requested. 2(j) Credit. 1. General. Regulation B covers a wider range of credit transactions than Regulation Z (Truth in Lending). Under Regulation B, a transaction is credit if there is a right to defer payment of a debt--regardless of whether the credit is for personal or commercial purposes, the number of installments required for repayment, or whether the transaction is subject to a finance charge. 2(l) Creditor. 1. Assignees. The term creditor includes all persons participating in the credit decision. This may include an assignee or a potential purchaser of the obligation who influences the credit decision by indicating whether or not it will purchase the obligation if the transaction is consummated. 2. Referrals to creditors. For certain purposes, the term creditor includes persons such as real estate brokers, automobile dealers, home builders, and home-improvement contractors who do not participate in credit decisions but who only accept applications and refer applicants to creditors, or select or offer to select creditors to whom credit requests can be made. These persons must comply with Sec. 202.4(a), the general rule prohibiting discrimination, and with Sec. 202.4(b), the general rule against discouraging applications. 2(p) Empirically derived and other credit scoring systems. 1. Purpose of definition. The definition under Sec. 202.2(p)(1)(i) through (iv) sets the criteria that a credit system must meet in order to use age as a predictive factor. Credit systems that do not meet these criteria are judgmental systems and may consider age only for the purpose of determining a ``pertinent element of creditworthiness.'' (Both types of systems may favor an elderly applicant. See Sec. 202.6(b)(2).) 2. Periodic revalidation. The regulation does not specify how often credit scoring systems must be revalidated. The credit scoring system must be revalidated frequently enough to ensure that it continues to meet recognized professional statistical standards for statistical soundness. To ensure that predictive ability is being maintained, the creditor must periodically review the performance of the system. This could be done, for example, by analyzing the loan portfolio to determine the delinquency rate for each score interval, or by analyzing population stability over time to detect deviations of recent applications from the applicant population used to validate the system. If this analysis indicates that the system no longer predicts risk with statistical soundness, the system must be adjusted as necessary to reestablish its predictive ability. A creditor is responsible for ensuring its system is validated and revalidated based on the creditor's own data. 3. Pooled data scoring systems. A scoring system or the data from which to develop such a system may be obtained from either a single credit grantor or multiple credit grantors. The resulting system will qualify as an empirically derived, demonstrably and statistically sound, credit scoring system provided the criteria set forth in paragraph (p)(1)(i) through (iv) of this section are met. A creditor is responsible for ensuring its system is validated and revalidated based on the creditor's own data when it becomes available. 4. Effects test and disparate treatment. An empirically derived, demonstrably and statistically sound, credit scoring system may include age as a predictive factor (provided that the age of an elderly applicant is not assigned a negative factor or value). Besides age, no other prohibited basis may be used as a variable. Generally, credit scoring systems treat all applicants objectively and thus avoid problems of disparate treatment. In cases where a credit scoring system is used in conjunction with individual discretion, disparate treatment could conceivably occur in the evaluation process. In addition, neutral factors used in credit scoring systems could nonetheless be subject to challenge under the effects test. (See comment 6(a)-2 for a discussion of the effects test). 2(w) Open-end credit. 1. Open-end real estate mortgages. The term ``open-end credit'' does not include negotiated advances under an open-end real estate mortgage or a letter of credit. 2(z) Prohibited basis. [[Page 57]] 1. Persons associated with applicant. As used in this regulation, prohibited basis refers not only to characteristics--the race, color, religion, national origin, sex, marital status, or age--of an applicant (or officers of an applicant in the case of a corporation) but also to the characteristics of individuals with whom an applicant is affiliated or with whom the applicant associates. This means, for example, that under the general rule stated in Sec. 202.4(a), a creditor may not discriminate against an applicant because of that person's personal or business dealings with members of a certain religion, because of the national origin of any persons associated with the extension of credit (such as the tenants in the apartment complex being financed), or because of the race of other residents in the neighborhood where the property offered as collateral is located. 2. National origin. A creditor may not refuse to grant credit because an applicant comes from a particular country but may take the applicant's immigration status into account. A creditor may also take into account any applicable law, regulation, or executive order restricting dealings with citizens (or the government) of a particular country or imposing limitations regarding credit extended for their use. 3. Public assistance program. Any federal, state, or local governmental assistance program that provides a continuing, periodic income supplement, whether premised on entitlement or need, is ``public assistance'' for purposes of the regulation. The term includes (but is not limited to) Temporary Aid to Needy Families, food stamps, rent and mortgage supplement or assistance programs, social security and supplemental security income, and unemployment compensation. Only physicians, hospitals, and others to whom the benefits are payable need consider Medicare and Medicaid as public assistance. Section 202.3--Limited Exceptions for Certain Classes of Transactions 1. Scope. Under this section, procedural requirements of the regulation do not apply to certain types of credit. All classes of transactions remain subject to Sec. 202.4(a), the general rule barring discrimination on a prohibited basis, and to any other provision not specifically excepted. 3(a) Public-utilities credit. 1. Definition. This definition applies only to credit for the purchase of a utility service, such as electricity, gas, or telephone service. Credit provided or offered by a public utility for some other purpose--such as for financing the purchase of a gas dryer, telephone equipment, or other durable goods, or for insulation or other home improvements--is not excepted. 2. Security deposits. A utility company is a creditor when it supplies utility service and bills the user after the service has been provided. Thus, any credit term (such as a requirement for a security deposit) is subject to the regulation's bar against discrimination on a prohibited basis. 3. Telephone companies. A telephone company's credit transactions qualify for the exceptions provided in Sec. 202.3(a)(2) only if the company is regulated by a government unit or files the charges for service, delayed payment, or any discount for prompt payment with a government unit. 3(c) Incidental credit. 1. Examples. If a service provider (such as a hospital, doctor, lawyer, or merchant) allows the client or customer to defer the payment of a bill, this deferral of debt is credit for purposes of the regulation, even though there is no finance charge and no agreement for payment in installments. Because of the exceptions provided by this section, however, these particular credit extensions are excepted from compliance with certain procedural requirements as specified in Sec. 202.3(c). 3(d) Government credit. 1. Credit to governments. The exception relates to credit extended to (not by) governmental entities. For example, credit extended to a local government is covered by this exception, but credit extended to consumers by a federal or state housing agency does not qualify for special treatment under this category. Section 202.4--General Rules Paragraph 4(a) 1. Scope of rule. The general rule stated in Sec. 202.4(a) covers all dealings, without exception, between an applicant and a creditor, whether or not addressed by other provisions of the regulation. Other provisions of the regulation identify specific practices that the Board has decided are impermissible because they could result in credit discrimination on a basis prohibited by the Act. The general rule covers, for example, application procedures, criteria used to evaluate creditworthiness, administration of accounts, and treatment of delinquent or slow accounts. Thus, whether or not specifically prohibited elsewhere in the regulation, a credit practice that treats applicants differently on a prohibited basis violates the law because it violates the general rule. Disparate treatment on a prohibited basis is illegal whether or not it results from a conscious intent to discriminate. 2. Examples. i. Disparate treatment would exist, for example, in the following situations: A. A creditor provides information only on ``subprime'' and similar products to minority applicants who request information about the creditor's mortgage products, but provides information on a wider variety of [[Page 58]] mortgage products to similarly situated nonminority applicants. B. A creditor provides more comprehensive information to men than to similarly situated women. C. A creditor requires a minority applicant to provide greater documentation to obtain a loan than a similarly situated nonminority applicant. D. A creditor waives or relaxes credit standards for a nonminority applicant but not for a similarly situated minority applicant. ii. Treating applicants differently on a prohibited basis is unlawful if the creditor lacks a legitimate nondiscriminatory reason for its action, or if the asserted reason is found to be a pretext for discrimination. Paragraph 4(b) 1. Prospective applicants. Generally, the regulation's protections apply only to persons who have requested or received an extension of credit. In keeping with the purpose of the Act--to promote the availability of credit on a nondiscriminatory basis--Sec. 202.4(b) covers acts or practices directed at prospective applicants that could discourage a reasonable person, on a prohibited basis, from applying for credit. Practices prohibited by this section include: i. A statement that the applicant should not bother to apply, after the applicant states that he is retired. ii. The use of words, symbols, models or other forms of communication in advertising that express, imply, or suggest a discriminatory preference or a policy of exclusion in violation of the Act. iii. The use of interview scripts that discourage applications on a prohibited basis. 2. Affirmative advertising. A creditor may affirmatively solicit or encourage members of traditionally disadvantaged groups to apply for credit, especially groups that might not normally seek credit from that creditor. Paragraph 4(c) 1. Requirement for written applications. Model application forms are provided in Appendix B to the regulation, although use of a printed form is not required. A creditor will satisfy the requirement by writing down the information that it normally considers in making a credit decision. The creditor may complete an application on behalf of an applicant and need not require the applicant to sign the application. 2. Telephone applications. A creditor that accepts applications by telephone for dwelling-related credit covered by Sec. 202.13 can meet the requirement for written applications by writing down pertinent information that is provided by the applicant. 3. Computerized entry. Information entered directly into and retained by a computerized system qualifies as a written application under this paragraph. (See the commentary to Sec. 202.13(b), Applications through electronic media and Applications through video.) Paragraph 4(d) 1. Clear and conspicuous. This standard requires that disclosures be presented in a reasonably understandable format in a way that does not obscure the required information. No minimum type size is mandated, but the disclosures must be legible, whether typewritten, handwritten, or printed by computer. 2. Form of disclosures. Whether the disclosures required to be on or with an application must be in electronic form depends upon the following: i. If an applicant accesses a credit application electronically (other than as described under ii below), such as online at a home computer, the creditor must provide the disclosures in electronic form (such as with the application form on its website) in order to meet the requirement to provide disclosures in a timely manner on or with the application. If the creditor instead mailed paper disclosures to the applicant, this requirement would not be met. ii. In contrast, if an applicant is physically present in the creditor's office, and accesses a credit application electronically, such as via a terminal or kiosk (or if the applicant uses a terminal or kiosk located on the premises of an affiliate or third party that has arranged with the creditor to provide applications to consumers), the creditor may provide disclosures in either electronic or paper form, provided the creditor complies with the timing, delivery, and retainability requirements of the regulation. Section 202.5--Rules Concerning Requests for Information 5(a) General rules. Paragraph 5(a)(1) 1. Requests for information. This section governs the types of information that a creditor may gather. Section 202.6 governs how information may be used. Paragraph 5(a)(2) 1. Local laws. Information that a creditor is allowed to collect pursuant to a ``state'' statute or regulation includes information required by a local statute, regulation, or ordinance. 2. Information required by Regulation C. Regulation C generally requires creditors covered by the Home Mortgage Disclosure Act (HMDA) to collect and report information about the race, ethnicity, and sex of applicants for home-improvement loans and home-purchase loans, including some types of loans not covered by Sec. 202.13. [[Page 59]] 3. Collecting information on behalf of creditors. Persons such as loan brokers and correspondents do not violate the ECOA or Regulation B if they collect information that they are otherwise prohibited from collecting, where the purpose of collecting the information is to provide it to a creditor that is subject to the Home Mortgage Disclosure Act or another federal or state statute or regulation requiring data collection. 5(d) Other limitations on information requests. Paragraph 5(d)(1) 1. Indirect disclosure of prohibited information. The fact that certain credit-related information may indirectly disclose marital status does not bar a creditor from seeking such information. For example, the creditor may ask about: i. The applicant's obligation to pay alimony, child support, or separate maintenance income. ii. The source of income to be used as the basis for repaying the credit requested, which could disclose that it is the income of a spouse. iii. Whether any obligation disclosed by the applicant has a co- obligor, which could disclose that the co-obligor is a spouse or former spouse. iv. The ownership of assets, which could disclose the interest of a spouse. Paragraph 5(d)(2) 1. Disclosure about income. The sample application forms in appendix B to the regulation illustrate how a creditor may inform an applicant of the right not to disclose alimony, child support, or separate maintenance income. 2. General inquiry about source of income. Since a general inquiry about the source of income may lead an applicant to disclose alimony, child support, or separate maintenance income, a creditor making such an inquiry on an application form should preface the request with the disclosure required by this paragraph. 3. Specific inquiry about sources of income. A creditor need not give the disclosure if the inquiry about income is specific and worded in a way that is unlikely to lead the applicant to disclose the fact that income is derived from alimony, child support, or separate maintenance payments. For example, an application form that asks about specific types of income such as salary, wages, or investment income need not include the disclosure. Section 202.6--Rules Concerning Evaluation of Applications 6(a) General rule concerning use of information. 1. General. When evaluating an application for credit, a creditor generally may consider any information obtained. However, a creditor may not consider in its evaluation of creditworthiness any information that it is barred by Sec. 202.5 from obtaining or from using for any purpose other than to conduct a self-test under Sec. 202.15. 2. Effects test. The effects test is a judicial doctrine that was developed in a series of employment cases decided by the U.S. Supreme Court under title VII of the Civil Rights Act of 1964 (42 U.S.C. 2000e et seq.), and the burdens of proof for such employment cases were codified by Congress in the Civil Rights Act of 1991 (42 U.S.C. 2000e- 2). Congressional intent that this doctrine apply to the credit area is documented in the Senate Report that accompanied H.R. 6516, No. 94-589, pp. 4-5; and in the House Report that accompanied H.R. 6516, No. 94-210, p.5. The Act and regulation may prohibit a creditor practice that is discriminatory in effect because it has a disproportionately negative impact on a prohibited basis, even though the creditor has no intent to discriminate and the practice appears neutral on its face, unless the creditor practice meets a legitimate business need that cannot reasonably be achieved as well by means that are less disparate in their impact. For example, requiring that applicants have income in excess of a certain amount to qualify for an overdraft line of credit could mean that women and minority applicants will be rejected at a higher rate than men and nonminority applicants. If there is a demonstrable relationship between the income requirement and creditworthiness for the level of credit involved, however, use of the income standard would likely be permissible. 6(b) Specific rules concerning use of information. Paragraph 6(b)(1) 1. Prohibited basis--special purpose credit. In a special purpose credit program, a creditor may consider a prohibited basis to determine whether the applicant possesses a characteristic needed for eligibility. (See Sec. 202.8.) Paragraph 6(b)(2) 1. Favoring the elderly. Any system of evaluating creditworthiness may favor a credit applicant who is age 62 or older. A credit program that offers more favorable credit terms to applicants age 62 or older is also permissible; a program that offers more favorable credit terms to applicants at an age lower than 62 is permissible only if it meets the special-purpose credit requirements of Sec. 202.8. 2. Consideration of age in a credit scoring system. Age may be taken directly into account in a credit scoring system that is ``demonstrably and statistically sound,'' as defined in Sec. 202.2(p), with one limitation: applicants age 62 years or older must be treated at least as favorably as applicants who are under age [[Page 60]] 62. If age is scored by assigning points to an applicant's age category, elderly applicants must receive the same or a greater number of points as the most favored class of nonelderly applicants. i. Age-split scorecards. Some credit systems segment the population and use different scorecards based on the age of an applicant. In such a system, one card may cover a narrow age range (for example, applicants in their twenties or younger) who are evaluated under attributes predictive for that age group. A second card may cover all other applicants, who are evaluated under the attributes predictive for that broader class. When a system uses a card covering a wide age range that encompasses elderly applicants, the credit scoring system is not deemed to score age. Thus, the system does not raise the issue of assigning a negative factor or value to the age of elderly applicants. But if a system segments the population by age into multiple scorecards, and includes elderly applicants in a narrower age range, the credit scoring system does score age. To comply with the Act and regulation in such a case, the creditor must ensure that the system does not assign a negative factor or value to the age of elderly applicants as a class. 3. Consideration of age in a judgmental system. In a judgmental system, defined in Sec. 202.2(t), a creditor may not decide whether to extend credit or set the terms and conditions of credit based on age or information related exclusively to age. Age or age-related information may be considered only in evaluating other ``pertinent elements of creditworthiness'' that are drawn from the particular facts and circumstances concerning the applicant. For example, a creditor may not reject an application or terminate an account because the applicant is 60 years old. But a creditor that uses a judgmental system may relate the applicant's age to other information about the applicant that the creditor considers in evaluating creditworthiness. As the following examples illustrate, the evaluation must be made in an individualized, case-by-case manner: i. A creditor may consider the applicant's occupation and length of time to retirement to ascertain whether the applicant's income (including retirement income) will support the extension of credit to its maturity. ii. A creditor may consider the adequacy of any security offered when the term of the credit extension exceeds the life expectancy of the applicant and the cost of realizing on the collateral could exceed the applicant's equity. An elderly applicant might not qualify for a 5 percent down, 30-year mortgage loan but might qualify with a larger downpayment or a shorter loan maturity. iii. A creditor may consider the applicant's age to assess the significance of length of employment (a young applicant may have just entered the job market) or length of time at an address (an elderly applicant may recently have retired and moved from a long-term residence). 4. Consideration of age in a reverse mortgage. A reverse mortgage is a home-secured loan in which the borrower receives payments from the creditor, and does not become obligated to repay these amounts (other than in the case of default) until the borrower dies, moves permanently from the home, or transfers title to the home, or upon a specified maturity date. Disbursements to the borrower under a reverse mortgage typically are determined by considering the value of the borrower's home, the current interest rate, and the borrower's life expectancy. A reverse mortgage program that requires borrowers to be age 62 or older is permissible under Sec. 202.6(b)(2)(iv). In addition, under Sec. 202.6(b)(2)(iii), a creditor may consider a borrower's age to evaluate a pertinent element of creditworthiness, such as the amount of the credit or monthly payments that the borrower will receive, or the estimated repayment date. 5. Consideration of age in a combined system. A creditor using a credit scoring system that qualifies as ``empirically derived'' under Sec. 202.2(p) may consider other factors (such as a credit report or the applicant's cash flow) on a judgmental basis. Doing so will not negate the classification of the credit scoring component of the combined system as ``demonstrably and statistically sound.'' While age could be used in the credit scoring portion, however, in the judgmental portion age may not be considered directly. It may be used only for the purpose of determining a ``pertinent element of creditworthiness.'' (See comment 6(b)(2)-3.) 6. Consideration of public assistance. When considering income derived from a public assistance program, a creditor may take into account, for example: i. The length of time an applicant will likely remain eligible to receive such income. ii. Whether the applicant will continue to qualify for benefits based on the status of the applicant's dependents (as in the case of Temporary Aid to Needy Families, or social security payments to a minor). iii. Whether the creditor can attach or garnish the income to assure payment of the debt in the event of default. Paragraph 6(b)(5) 1. Consideration of an individual applicant. A creditor must evaluate income derived from part-time employment, alimony, child support, separate maintenance payments, retirement benefits, or public assistance on an [[Page 61]] individual basis, not on the basis of aggregate statistics; and must assess its reliability or unreliability by analyzing the applicant's actual circumstances, not by analyzing statistical measures derived from a group. 2. Payments consistently made. In determining the likelihood of consistent payments of alimony, child support, or separate maintenance, a creditor may consider factors such as whether payments are received pursuant to a written agreement or court decree; the length of time that the payments have been received; whether the payments are regularly received by the applicant; the availability of court or other procedures to compel payment; and the creditworthiness of the payor, including the credit history of the payor when it is available to the creditor. 3. Consideration of income. i. A creditor need not consider income at all in evaluating creditworthiness. If a creditor does consider income, there are several acceptable methods, whether in a credit scoring or a judgmental system: A. A creditor may score or take into account the total sum of all income stated by the applicant without taking steps to evaluate the income for reliability. B. A creditor may evaluate each component of the applicant's income, and then score or take into account income determined to be reliable separately from other income; or the creditor may disregard that portion of income that is not reliable when it aggregates reliable income. C. A creditor that does not evaluate all income components for reliability must treat as reliable any component of protected income that is not evaluated. ii. In considering the separate components of an applicant's income, the creditor may not automatically discount or exclude from consideration any protected income. Any discounting or exclusion must be based on the applicant's actual circumstances. 4. Part-time employment, sources of income. A creditor may score or take into account the fact that an applicant has more than one source of earned income--a full-time and a part-time job or two part-time jobs. A creditor may also score or treat earned income from a secondary source differently than earned income from a primary source. The creditor may not, however, score or otherwise take into account the number of sources for income such as retirement income, social security, supplemental security income, and alimony. Nor may the creditor treat negatively the fact that an applicant's only earned income is derived from, for example, a part-time job. Paragraph 6(b)(6) 1. Types of credit references. A creditor may restrict the types of credit history and credit references that it will consider, provided that the restrictions are applied to all credit applicants without regard to sex, marital status, or any other prohibited basis. On the applicant's request, however, a creditor must consider credit information not reported through a credit bureau when the information relates to the same types of credit references and history that the creditor would consider if reported through a credit bureau. Paragraph 6(b)(7) 1. National origin--immigration status. The applicant's immigration status and ties to the community (such as employment and continued residence in the area) could have a bearing on a creditor's ability to obtain repayment. Accordingly, the creditor may consider immigration status and differentiate, for example, between a noncitizen who is a long-time resident with permanent resident status and a noncitizen who is temporarily in this country on a student visa. 2. National origin--citizenship. A denial of credit on the ground that an applicant is not a United States citizen is not per se discrimination based on national origin. Paragraph 6(b)(8) 1. Prohibited basis--marital status. A creditor may consider the marital status of an applicant or joint applicant for the purpose of ascertaining the creditor's rights and remedies applicable to the particular extension of credit. For example, in a secured transaction involving real property, a creditor could take into account whether state law gives the applicant's spouse an interest in the property being offered as collateral. Section 202.7--Rules Concerning Extensions of Credit 7(a) Individual accounts. 1. Open-end credit--authorized user. A creditor may not require a creditworthy applicant seeking an individual credit account to provide additional signatures. But the creditor may condition the designation of an authorized user by the account holder on the authorized user's becoming contractually liable for the account, as long as the creditor does not differentiate on any prohibited basis in imposing this requirement. 2. Open-end credit--choice of authorized user. A creditor that permits an account holder to designate an authorized user may not restrict this designation on a prohibited basis. For example, if the creditor allows the designation of spouses as authorized users, the creditor may not refuse to accept a nonspouse as an authorized user. 3. Overdraft authority on transaction accounts. If a transaction account (such as a checking account or NOW account) includes an overdraft line of credit, the creditor may require that all persons authorized to draw [[Page 62]] on the transaction account assume liability for any overdraft. 7(b) Designation of name. 1. Single name on account. A creditor may require that joint applicants on an account designate a single name for purposes of administering the account and that a single name be embossed on any credit cards issued on the account. But the creditor may not require that the name be the husband's name. (See Sec. 202.10 for rules governing the furnishing of credit history on accounts held by spouses.) 7(c) Action concerning existing open-end accounts. Paragraph 7(c)(1) 1. Termination coincidental with marital status change. When an account holder's marital status changes, a creditor generally may not terminate the account unless it has evidence that the account holder is now unable or unwilling to repay. But the creditor may terminate an account on which both spouses are jointly liable, even if the action coincides with a change in marital status, when one or both spouses: i. Repudiate responsibility for future charges on the joint account. ii. Request separate accounts in their own names. iii. Request that the joint account be closed. 2. Updating information. A creditor may periodically request updated information from applicants but may not use events related to a prohibited basis--such as an applicant's retirement or reaching a particular age, or a change in name or marital status--to trigger such a request. Paragraph 7(c)(2) 1. Procedure pending reapplication. A creditor may require a reapplication from an account holder, even when there is no evidence of unwillingness or inability to repay, if (1) the credit was based on the qualifications of a person who is no longer available to support the credit and (2) the creditor has information indicating that the account holder's income may be insufficient to support the credit. While a reapplication is pending, the creditor must allow the account holder full access to the account under the existing contract terms. The creditor may specify a reasonable time period within which the account holder must submit the required information. 7(d) Signature of spouse or other person. 1. Qualified applicant. The signature rules ensure that qualified applicants are able to obtain credit in their own names. Thus, when an applicant requests individual credit, a creditor generally may not require the signature of another person unless the creditor has first determined that the applicant alone does not qualify for the credit requested. 2. Unqualified applicant. When an applicant requests individual credit but does not meet a creditor's standards, the creditor may require a cosigner, guarantor, endorser, or similar partie--but cannot require that it be the spouse. (See commentary to Sec. 202.7(d)(5) and (6).) Paragraph 7(d)(1) 1. Signature of another person. It is impermissible for a creditor to require an applicant who is individually creditworthy to provide a cosigner--even if the creditor applies the requirement without regard to sex, marital status, or any other prohibited basis. (But see comment 7(d)(6)-1 concerning guarantors of closely held corporations.) 2. Joint applicant. The term ``joint applicant'' refers to someone who applies contemporaneously with the applicant for shared or joint credit. It does not refer to someone whose signature is required by the creditor as a condition for granting the credit requested. 3. Evidence of joint application. A person's intent to be a joint applicant must be evidenced at the time of application. Signatures on a promissory note may not be used to show intent to apply for joint credit. On the other hand, signatures or initials on a credit application affirming applicants' intent to apply for joint credit may be used to establish intent to apply for joint credit. (See Appendix B). The method used to establish intent must be distinct from the means used by individuals to affirm the accuracy of information. For example, signatures on a joint financial statement affirming the veracity of information are not sufficient to establish intent to apply for joint credit. Paragraph 7(d)(2) 1. Jointly owned property. If an applicant requests unsecured credit, does not own sufficient separate property, and relies on joint property to establish creditworthiness, the creditor must value the applicant's interest in the jointly owned property. A creditor may not request that a nonapplicant joint owner sign any instrument as a condition of the credit extension unless the applicant's interest does not support the amount and terms of the credit sought. i. Valuation of applicant's interest. In determining the value of an applicant's interest in jointly owned property, a creditor may consider factors such as the form of ownership and the property's susceptibility to attachment, execution, severance, or partition; the value of the applicant's interest after such action; and the cost associated with the action. This determination must be based on the existing form of ownership, and not on the possibility of a subsequent change. For [[Page 63]] example, in determining whether a married applicant's interest in jointly owned property is sufficient to satisfy the creditor's standards of creditworthiness for individual credit, a creditor may not consider that the applicant's separate property could be transferred into tenancy by the entirety after consummation. Similarly, a creditor may not consider the possibility that the couple may divorce. Accordingly, a creditor may not require the signature of the nonapplicant spouse in these or similar circumstances. ii. Other options to support credit. If the applicant's interest in jointly owned property does not support the amount and terms of credit sought, the creditor may offer the applicant other options to qualify for the extension of credit. For example: A. Providing a co-signer or other party (Sec. 202.7(d)(5)); B. Requesting that the credit be granted on a secured basis (Sec. 202.7(d)(4)); or C. Providing the signature of the joint owner on an instrument that ensures access to the property in the event of the applicant's death or default, but does not impose personal liability unless necessary under state law (such as a limited guarantee). A creditor may not routinely require, however, that a joint owner sign an instrument (such as a quitclaim deed) that would result in the forfeiture of the joint owner's interest in the property. 2. Need for signature--reasonable belief. A creditor's reasonable belief as to what instruments need to be signed by a person other than the applicant should be supported by a thorough review of pertinent statutory and decisional law or an opinion of the state attorney general. Paragraph 7(d)(3) 1. Residency. In assessing the creditworthiness of a person who applies for credit in a community property state, a creditor may assume that the applicant is a resident of the state unless the applicant indicates otherwise. Paragraph 7(d)(4) 1. Creation of enforceable lien. Some state laws require that both spouses join in executing any instrument by which real property is encumbered. If an applicant offers such property as security for credit, a creditor may require the applicant's spouse to sign the instruments necessary to create a valid security interest in the property. The creditor may not require the spouse to sign the note evidencing the credit obligation if signing only the mortgage or other security agreement is sufficient to make the property available to satisfy the debt in the event of default. However, if under state law both spouses must sign the note to create an enforceable lien, the creditor may require the signatures. 2. Need for signature--reasonable belief. Generally, a signature to make the secured property available will only be needed on a security agreement. A creditor's reasonable belief that, to ensure access to the property, the spouse's signature is needed on an instrument that imposes personal liability should be supported by a thorough review of pertinent statutory and decisional law or an opinion of the state attorney general. 3. Integrated instruments. When a creditor uses an integrated instrument that combines the note and the security agreement, the spouse cannot be asked to sign the integrated instrument if the signature is only needed to grant a security interest. But the spouse could be asked to sign an integrated instrument that makes clear--for example, by a legend placed next to the spouse's signature--that the spouse's signature is only to grant a security interest and that signing the instrument does not impose personal liability. Paragraph 7(d)(5) 1. Qualifications of additional parties. In establishing guidelines for eligibility of guarantors, cosigners, or similar additional parties, a creditor may restrict the applicant's choice of additional parties but may not discriminate on the basis of sex, marital status, or any other prohibited basis. For example, the creditor could require that the additional party live in the creditor's market area. 2. Reliance on income of another person--individual credit. An applicant who requests individual credit relying on the income of another person (including a spouse in a non-community property state) may be required to provide the signature of the other person to make the income available to pay the debt. In community property states, the signature of a spouse may be required if the applicant relies on the spouse's separate income. If the applicant relies on the spouse's future earnings that as a matter of state law cannot be characterized as community property until earned, the creditor may require the spouse's signature, but need not do so--even if it is the creditor's practice to require the signature when an applicant relies on the future earnings of a person other than a spouse. (See Sec. 202.6(c) on consideration of state property laws.) 3. Renewals. If the borrower's creditworthiness is reevaluated when a credit obligation is renewed, the creditor must determine whether an additional party is still warranted and, if not warranted, release the additional party. [[Page 64]] Paragraph 7(d)(6) 1. Guarantees. A guarantee on an extension of credit is part of a credit transaction and therefore subject to the regulation. A creditor may require the personal guarantee of the partners, directors, or officers of a business, and the shareholders of a closely held corporation, even if the business or corporation is creditworthy. The requirement must be based on the guarantor's relationship with the business or corporation, however, and not on a prohibited basis. For example, a creditor may not require guarantees only for women-owned or minority-owned businesses. Similarly, a creditor may not require guarantees only of the married officers of a business or the married shareholders of a closely held corporation. 2. Spousal guarantees. The rules in Sec. 202.7(d) bar a creditor from requiring the signature of a guarantor's spouse just as they bar the creditor from requiring the signature of an applicant's spouse. For example, although a creditor may require all officers of a closely held corporation to personally guarantee a corporate loan, the creditor may not automatically require that spouses of married officers also sign the guarantee. If an evaluation of the financial circumstances of an officer indicates that an additional signature is necessary, however, the creditor may require the signature of another person in appropriate circumstances in accordance with Sec. 202.7(d)(2). 7(e) Insurance. 1. Differences in terms. Differences in the availability, rates, and other terms on which credit-related casualty insurance or credit life, health, accident, or disability insurance is offered or provided to an applicant does not violate Regulation B. 2. Insurance information. A creditor may obtain information about an applicant's age, sex, or marital status for insurance purposes. The information may only be used for determining eligibility and premium rates for insurance, however, and not in making the credit decision. Section 202.8--Special Purpose Credit Programs 8(a) Standards for programs. 1. Determining qualified programs. The Board does not determine whether individual programs qualify for special purpose credit status, or whether a particular program benefits an ``economically disadvantaged class of persons.'' The agency or creditor administering or offering the loan program must make these decisions regarding the status of its program. 2. Compliance with a program authorized by federal or state law. A creditor does not violate Regulation B when it complies in good faith with a regulation promulgated by a government agency implementing a special purpose credit program under Sec. 202.8(a)(1). It is the agency's responsibility to promulgate a regulation that is consistent with federal and state law. 3. Expressly authorized. Credit programs authorized by federal or state law include programs offered pursuant to federal, state, or local statute, regulation or ordinance, or pursuant to judicial or administrative order. 4. Creditor liability. A refusal to grant credit to an applicant is not a violation of the Act or regulation if the applicant does not meet the eligibility requirements under a special purpose credit program. 5. Determining need. In designing a special purpose credit program under Sec. 202.8(a), a for-profit organization must determine that the program will benefit a class of people who would otherwise be denied credit or would receive it on less favorable terms. This determination can be based on a broad analysis using the organization's own research or data from outside sources, including governmental reports and studies. For example, a creditor might design new products to reach consumers who would not meet, or have not met, its traditional standards of creditworthiness due to such factors as credit inexperience or the use of credit sources that may not report to consumer reporting agencies. Or, a bank could review Home Mortgage Disclosure Act data along with demographic data for its assessment area and conclude that there is a need for a special purpose credit program for low-income minority borrowers. 6. Elements of the program. The written plan must contain information that supports the need for the particular program. The plan also must either state a specific period of time for which the program will last, or contain a statement regarding when the program will be reevaluated to determine if there is a continuing need for it. 8(b) Rules in other sections. 1. Applicability of rules. A creditor that rejects an application because the applicant does not meet the eligibility requirements (common characteristic or financial need, for example) must nevertheless notify the applicant of action taken as required by Sec. 202.9. 8(c) Special rule concerning requests and use of information. 1. Request of prohibited basis information. This section permits a creditor to request and consider certain information that would otherwise be prohibited by Sec. Sec. 202.5 and 202.6 to determine an applicant's eligibility for a particular program. 2. Examples. Examples of programs under which the creditor can ask for and consider information about a prohibited basis are: i. Energy conservation programs to assist the elderly, for which the creditor must consider the applicant's age. [[Page 65]] ii. Programs under a Minority Enterprise Small Business Investment Corporation, for which a creditor must consider the applicant's minority status. 8(d) Special rule in the case of financial need. 1. Request of prohibited basis information. This section permits a creditor to request and consider certain information that would otherwise be prohibited by Sec. Sec. 202.5 and 202.6, and to require signatures that would otherwise be prohibited by Sec. 202.7(d). 2. Examples. Examples of programs in which financial need is a criterion are: i. Subsidized housing programs for low- to moderate-income households, for which a creditor may have to consider the applicant's receipt of alimony or child support, the spouse's or parents' income, etc. ii. Student loan programs based on the family's financial need, for which a creditor may have to consider the spouse's or parents' financial resources. 3. Student loans. In a guaranteed student loan program, a creditor may obtain the signature of a parent as a guarantor when required by federal or state law or agency regulation, or when the student does not meet the creditor's standards of creditworthiness. (See Sec. 202.7(d)(1) and (5).) The creditor may not require an additional signature when a student has a work or credit history that satisfies the creditor's standards. Section 202.9--Notifications 1. Use of the term adverse action. The regulation does not require that a creditor use the term adverse action in communicating to an applicant that a request for an extension of credit has not been approved. In notifying an applicant of adverse action as defined by Sec. 202.2(c)(1), a creditor may use any words or phrases that describe the action taken on the application. 2. Expressly withdrawn applications. When an applicant expressly withdraws a credit application, the creditor is not required to comply with the notification requirements under Sec. 202.9. (The creditor must comply, however, with the record retention requirements of the regulation. See Sec. 202.12(b)(3).) 3. When notification occurs. Notification occurs when a creditor delivers or mails a notice to the applicant's last known address or, in the case of an oral notification, when the creditor communicates the credit decision to the applicant. 4. Location of notice. The notifications required under Sec. 202.9 may appear on either or both sides of a form or letter. 5. Prequalification requests. Whether a creditor must provide a notice of action taken for a prequalification request depends on the creditor's response to the request, as discussed in comment 2(f)-3. For instance, a creditor may treat the request as an inquiry if the creditor evaluates specific information about the consumer and tells the consumer the loan amount, rate, and other terms of credit the consumer could qualify for under various loan programs, explaining the process the consumer must follow to submit a mortgage application and the information the creditor will analyze in reaching a credit decision. On the other hand, a creditor has treated a request as an application, and is subject to the adverse action notice requirements of Sec. 202.9 if, after evaluating information, the creditor decides that it will not approve the request and communicates that decision to the consumer. For example, if the creditor tells the consumer that it would not approve an application for a mortgage because of a bankruptcy in the consumer's record, the creditor has denied an application for credit. 9(a) Notification of action taken, ECOA notice, and statement of specific reasons. Paragraph 9(a)(1) 1. Timing of notice--when an application is complete. Once a creditor has obtained all the information it normally considers in making a credit decision, the application is complete and the creditor has 30 days in which to notify the applicant of the credit decision. (See also comment 2(f)-6.) 2. Notification of approval. Notification of approval may be express or by implication. For example, the creditor will satisfy the notification requirement when it gives the applicant the credit card, money, property, or services requested. 3. Incomplete application--denial for incompleteness. When an application is incomplete regarding information that the applicant can provide and the creditor lacks sufficient data for a credit decision, the creditor may deny the application giving as the reason for denial that the application is incomplete. The creditor has the option, alternatively, of providing a notice of incompleteness under Sec. 202.9(c). 4. Incomplete application--denial for reasons other than incompleteness. When an application is missing information but provides sufficient data for a credit decision, the creditor may evaluate the application, make its credit decision, and notify the applicant accordingly. If credit is denied, the applicant must be given the specific reasons for the credit denial (or notice of the right to receive the reasons); in this instance missing information or ``incomplete application'' cannot be given as the reason for the denial. 5. Length of counteroffer. Section 202.9(a)(1)(iv) does not require a creditor to hold a counteroffer open for 90 days or any other particular length of time. 6. Counteroffer combined with adverse action notice. A creditor that gives the applicant a combined counteroffer and adverse action notice that complies with Sec. 202.9(a)(2) need not send a second adverse action notice if the applicant does not accept the [[Page 66]] counteroffer. A sample of a combined notice is contained in form C-4 of Appendix C to the regulation. 7. Denial of a telephone application. When an application is made by telephone and adverse action is taken, the creditor must request the applicant's name and address in order to provide written notification under this section. If the applicant declines to provide that information, then the creditor has no further notification responsibility. Paragraph 9(a)(3) 1. Coverage. In determining which rules in this paragraph apply to a given business credit application, a creditor may rely on the applicant's assertion about the revenue size of the business. (Applications to start a business are governed by the rules in Sec. 202.9(a)(3)(i).) If an applicant applies for credit as a sole proprietor, the revenues of the sole proprietorship will determine which rules govern the application. However, if an applicant applies for business credit as an individual, the rules in Sec. 202.9(a)(3)(i) apply unless the application is for trade or similar credit. 2. Trade credit. The term trade credit generally is limited to a financing arrangement that involves a buyer and a seller--such as a supplier who finances the sale of equipment, supplies, or inventory; it does not apply to an extension of credit by a bank or other financial institution for the financing of such items. 3. Factoring. Factoring refers to a purchase of accounts receivable, and thus is not subject to the Act or regulation. If there is a credit extension incident to the factoring arrangement, the notification rules in Sec. 202.9(a)(3)(ii) apply, as do other relevant sections of the Act and regulation. 4. Manner of compliance. In complying with the notice provisions of the Act and regulation, creditors offering business credit may follow the rules governing consumer credit. Similarly, creditors may elect to treat all business credit the same (irrespective of revenue size) by providing notice in accordance with Sec. 202.9(a)(3)(i). 5. Timing of notification. A creditor subject to Sec. 202.9(a)(3)(ii)(A) is required to notify a business credit applicant, orally or in writing, of action taken on an application within a reasonable time of receiving a completed application. Notice provided in accordance with the timing requirements of Sec. 202.9(a)(1) is deemed reasonable in all instances. 9(b) Form of ECOA notice and statement of specific reasons. Paragraph 9(b)(1) 1. Substantially similar notice. The ECOA notice sent with a notification of a credit denial or other adverse action will comply with the regulation if it is ``substantially similar'' to the notice contained in Sec. 202.9(b)(1). For example, a creditor may add a reference to the fact that the ECOA permits age to be considered in certain credit scoring systems, or add a reference to a similar state statute or regulation and to a state enforcement agency. Paragraph 9(b)(2) 1. Number of specific reasons. A creditor must disclose the principal reasons for denying an application or taking other adverse action. The regulation does not mandate that a specific number of reasons be disclosed, but disclosure of more than four reasons is not likely to be helpful to the applicant. 2. Source of specific reasons. The specific reasons disclosed under Sec. Sec. 202.9(a)(2) and (b)(2) must relate to and accurately describe the factors actually considered or scored by a creditor. 3. Description of reasons. A creditor need not describe how or why a factor adversely affected an applicant. For example, the notice may say ``length of residence'' rather than ``too short a period of residence.'' 4. Credit scoring system. If a creditor bases the denial or other adverse action on a credit scoring system, the reasons disclosed must relate only to those factors actually scored in the system. Moreover, no factor that was a principal reason for adverse action may be excluded from disclosure. The creditor must disclose the actual reasons for denial (for example, ``age of automobile'') even if the relationship of that factor to predicting creditworthiness may not be clear to the applicant. 5. Credit scoring--method for selecting reasons. The regulation does not require that any one method be used for selecting reasons for a credit denial or other adverse action that is based on a credit scoring system. Various methods will meet the requirements of the regulation. One method is to identify the factors for which the applicant's score fell furthest below the average score for each of those factors achieved by applicants whose total score was at or slightly above the minimum passing score. Another method is to identify the factors for which the applicant's score fell furthest below the average score for each of those factors achieved by all applicants. These average scores could be calculated during the development or use of the system. Any other method that produces results substantially similar to either of these methods is also acceptable under the regulation. 6. Judgmental system. If a creditor uses a judgmental system, the reasons for the denial or other adverse action must relate to those factors in the applicant's record actually reviewed by the person making the decision. [[Page 67]] 7. Combined credit scoring and judgmental system. If a creditor denies an application based on a credit evaluation system that employs both credit scoring and judgmental components, the reasons for the denial must come from the component of the system that the applicant failed. For example, if a creditor initially credit scores an application and denies the credit request as a result of that scoring, the reasons disclosed to the applicant must relate to the factors scored in the system. If the application passes the credit scoring stage but the creditor then denies the credit request based on a judgmental assessment of the applicant's record, the reasons disclosed must relate to the factors reviewed judgmentally, even if the factors were also considered in the credit scoring component. If the application is not approved or denied as a result of the credit scoring, but falls into a gray band, and the creditor performs a judgmental assessment and denies the credit after that assessment, the reasons disclosed must come from both components of the system. The same result applies where a judgmental assessment is the first component of the combined system. As provided in comment 9(b)(2)-1, disclosure of more than a combined total of four reasons is not likely to be helpful to the applicant. 8. Automatic denial. Some credit decision methods contain features that call for automatic denial because of one or more negative factors in the applicant's record (such as the applicant's previous bad credit history with that creditor, the applicant's declaration of bankruptcy, or the fact that the applicant is a minor). When a creditor denies the credit request because of an automatic-denial factor, the creditor must disclose that specific factor. 9. Combined ECOA-FCRA disclosures. The ECOA requires disclosure of the principal reasons for denying or taking other adverse action on an application for an extension of credit. The Fair Credit Reporting Act (FCRA) requires a creditor to disclose when it has based its decision in whole or in part on information from a source other than the applicant or its own files. Disclosing that a consumer report was obtained and used in the denial of the application, as the FCRA requires, does not satisfy the ECOA requirement to disclose specific reasons. For example, if the applicant's credit history reveals delinquent credit obligations and the application is denied for that reason, to satisfy Sec. 202.9(b)(2) the creditor must disclose that the application was denied because of the applicant's delinquent credit obligations. The FCRA also requires a creditor to disclose, as applicable, a credit score it used in taking adverse action along with related information, including up to four key factors that adversely affected the consumer's credit score (or up to five factors if the number of inquiries made with respect to that consumer report is a key factor). Disclosing the key factors that adversely affected the consumer's credit score does not satisfy the ECOA requirement to disclose specific reasons for denying or taking other adverse action on an application or extension of credit. Sample forms C- 1 through C-5 of appendix C of the regulation provide for both the ECOA and FCRA disclosures. See also comment 9(a)(2)-1. 9(c) Incomplete applications. Paragraph 9(c)(1) 1. Exception for preapprovals. The requirement to provide a notice of incompleteness does not apply to preapprovals that constitute applications under Sec. 202.2(f). Paragraph 9(c)(2) 1. Reapplication. If information requested by a creditor is submitted by an applicant after the expiration of the time period designated by the creditor, the creditor may require the applicant to make a new application. Paragraph 9(c)(3) 1. Oral inquiries for additional information. If an applicant fails to provide the information in response to an oral request, a creditor must send a written notice to the applicant within the 30-day period specified in Sec. 202.9(c)(1) and (2). If the applicant provides the information, the creditor must take action on the application and notify the applicant in accordance with Sec. 202.9(a). 9(g) Applications submitted through a third party. 1. Third parties. The notification of adverse action may be given by one of the creditors to whom an application was submitted, or by a noncreditor third party. If one notification is provided on behalf of multiple creditors, the notice must contain the name and address of each creditor. The notice must either disclose the applicant's right to a statement of specific reasons within 30 days, or give the primary reasons each creditor relied upon in taking the adverse action--clearly indicating which reasons relate to which creditor. 2. Third party notice--enforcement agency. If a single adverse action notice is being provided to an applicant on behalf of several creditors and they are under the jurisdiction of different federal enforcement agencies, the notice need not name each agency; disclosure of any one of them will suffice. 3. Third-party notice--liability. When a notice is to be provided through a third party, a creditor is not liable for an act or omission of the third party that constitutes a violation of the regulation if the creditor accurately and in a timely manner provided the third party with the information necessary [[Page 68]] for the notification and maintains reasonable procedures adapted to prevent such violations. Section 202.10--Furnishing of Credit Information 1. Scope. The requirements of Sec. 202.10 for designating and reporting credit information apply only to consumer credit transactions. Moreover, they apply only to creditors that opt to furnish credit information to credit bureaus or to other creditors; there is no requirement that a creditor furnish credit information on its accounts. 2. Reporting on all accounts. The requirements of Sec. 202.10 apply only to accounts held or used by spouses. However, a creditor has the option to designate all joint accounts (or all accounts with an authorized user) to reflect the participation of both parties, whether or not the accounts are held by persons married to each other. 3. Designating accounts. In designating accounts and reporting credit information, a creditor need not distinguish between accounts on which the spouse is an authorized user and accounts on which the spouse is a contractually liable party. 4. File and index systems. The regulation does not require the creation or maintenance of separate files in the name of each participant on a joint or user account, or require any other particular system of recordkeeping or indexing. It requires only that a creditor be able to report information in the name of each spouse on accounts covered by Sec. 202.10. Thus, if a creditor receives a credit inquiry about the wife, it should be able to locate her credit file without asking the husband's name. 10(a) Designation of accounts. 1. New parties. When new parties who are spouses undertake a legal obligation on an account, as in the case of a mortgage loan assumption, the creditor must change the designation on the account to reflect the new parties and must furnish subsequent credit information on the account in the new names. 2. Request to change designation of account. A request to change the manner in which information concerning an account is furnished does not alter the legal liability of either spouse on the account and does not require a creditor to change the name in which the account is maintained. Section 202.11--Relation to State Law 11(a) Inconsistent state laws. 1. Preemption determination--New York. The Board has determined that the following provisions in the state law of New York are preempted by the federal law, effective November 11, 1988: i. Article 15, section 296a(1)(b)--Unlawful discriminatory practices in relation to credit on the basis of race, creed, color, national origin, age, sex, marital status, or disability. This provision is preempted to the extent that it bars taking a prohibited basis into account when establishing eligibility for certain special-purpose credit programs. ii. Article 15, section 296a(1)(c)'Unlawful discriminatory practice to make any record or inquiry based on race, creed, color, national origin, age, sex, marital status, or disability. This provision is preempted to the extent that it bars a creditor from requesting and considering information regarding the particular characteristics (for example, race, national origin, or sex) required for eligibility for special-purpose credit programs. 2. Preemption determination--Ohio. The Board has determined that the following provision in the state law of Ohio is preempted by the federal law, effective July 23, 1990: i. Section 4112.021(B)(1)--Unlawful discriminatory practices in credit transactions. This provision is preempted to the extent that it bars asking or favorably considering the age of an elderly applicant; prohibits the consideration of age in a credit scoring system; permits without limitation the consideration of age in real estate transactions; and limits the consideration of age in special-purpose credit programs to certain government-sponsored programs identified in the state law. Section 202.12--Record Retention 12(a) Retention of prohibited information. 1. Receipt of prohibited information. Unless the creditor specifically requested such information, a creditor does not violate this section when it receives prohibited information from a consumer reporting agency. 2. Use of retained information. Although a creditor may keep in its files prohibited information as provided in Sec. 202.12(a), the creditor may use the information in evaluating credit applications only if permitted to do so by Sec. 202.6. 12(b) Preservation of records. 1. Copies. Copies of the original record include carbon copies, photocopies, microfilm or microfiche copies, or copies produced by any other accurate retrieval system, such as documents stored and reproduced by computer. A creditor that uses a computerized or mechanized system need not keep a paper copy of a document (for example, of an adverse action notice) if it can regenerate all pertinent information in a timely manner for examination or other purposes. 2. Computerized decisions. A creditor that enters information items from a written application into a computerized or mechanized system and makes the credit decision mechanically, based only on the items of information entered into the system, may comply with Sec. 202.12(b) by retaining the information actually entered. It is not required to store the complete written application, nor is it [[Page 69]] required to enter the remaining items of information into the system. If the transaction is subject to Sec. 202.13, however, the creditor is required to enter and retain the data on personal characteristics in order to comply with the requirements of that section. Paragraph 12(b)(3) 1. Withdrawn and brokered applications. In most cases, the 25-month retention period for applications runs from the date a notification is sent to the applicant granting or denying the credit requested. In certain transactions, a creditor is not obligated to provide a notice of the action taken. (See, for example, comment 9-2.) In such cases, the 25-month requirement runs from the date of application, as when: i. An application is withdrawn by the applicant. ii. An application is submitted to more than one creditor on behalf of the applicant, and the application is approved by one of the other creditors. 12(b)(6) Self-tests 1. The rule requires all written or recorded information about a self-test to be retained for 25 months after a self-test has been completed. For this purpose, a self-test is completed after the creditor has obtained the results and made a determination about what corrective action, if any, is appropriate. Creditors are required to retain information about the scope of the self-test, the methodology used and time period covered by the self-test, the report or results of the self- test including any analysis or conclusions, and any corrective action taken in response to the self-test. 12(b)(7) Preapplication marketing information. 1. Prescreened credit solicitations. The rule requires creditors to retain copies of prescreened credit solicitations. For purposes of this regulation, a prescreened solicitation is an ``offer of credit'' as described in 15 U.S.C. 1681a(1) of the Fair Credit Reporting Act. A creditor complies with this rule if it retains a copy of each solicitation mailing that contains different terms, such as the amount of credit offered, annual percentage rate, or annual fee. 2. List of criteria. A creditor must retain the list of criteria used to select potential recipients. This includes the criteria used by the creditor both to determine the potential recipients of the particular solicitation and to determine who will actually be offered credit. 3. Correspondence. A creditor may retain correspondence relating to consumers' complaints about prescreened solicitations in any manner that is reasonably accessible and is understandable to examiners. There is no requirement to establish a separate database or set of files for such correspondence, or to match consumer complaints with specific solicitation programs. Section 202.13--Information for Monitoring Purposes 13(a) Information to be requested. 1. Natural person. Section 202.13 applies only to applications from natural persons. 2. Principal residence. The requirements of Sec. 202.13 apply only if an application relates to a dwelling that is or will be occupied by the applicant as the principal residence. A credit application related to a vacation home or a rental unit is not covered. In the case of a two- to four-unit dwelling, the application is covered if the applicant intends to occupy one of the units as a principal residence. 3. Temporary financing. An application for temporary financing to construct a dwelling is not subject to Sec. 202.13. But an application for both a temporary loan to finance construction of a dwelling and a permanent mortgage loan to take effect upon the completion of construction is subject to Sec. 202.13. 4. New principal residence. A person can have only one principal residence at a time. However, if a person buys or builds a new dwelling that will become that person's principal residence within a year or upon completion of construction, the new dwelling is considered the principal residence for purposes of Sec. 202.13. 5. Transactions not covered. The information-collection requirements of this section apply to applications for credit primarily for the purchase or refinancing of a dwelling that is or will become the applicant's principal residence. Therefore, applications for credit secured by the applicant's principal residence but made primarily for a purpose other than the purchase or refinancing of the principal residence (such as loans for home improvement and debt consolidation) are not subject to the information-collection requirements. An application for an open-end home equity line of credit is not subject to this section unless it is readily apparent to the creditor when the application is taken that the primary purpose of the line is for the purchase or refinancing of a principal dwelling. 6. Refinancings. A refinancing occurs when an existing obligation is satisfied and replaced by a new obligation undertaken by the same borrower. A creditor that receives an application to refinance an existing extension of credit made by that creditor for the purchase of the applicant's dwelling may request the monitoring information again but is not required to do so if it was obtained in the earlier transaction. 7. Data collection under Regulation C. See comment 5(a)(2)-2. 13(b) Obtaining of information. 1. Forms for collecting data. A creditor may collect the information specified in Sec. 202.13(a) [[Page 70]] either on an application form or on a separate form referring to the application. The applicant must be offered the option to select more than one racial designation. 2. Written applications. The regulation requires written applications for the types of credit covered by Sec. 202.13. A creditor can satisfy this requirement by recording on paper or by means of computer the information that the applicant provides orally and that the creditor normally considers in a credit decision. 3. Telephone, mail applications. i. A creditor that accepts an application by telephone or mail must request the monitoring information. ii. A creditor that accepts an application by mail need not make a special request for the monitoring information if the applicant has failed to provide it on the application form returned to the creditor. iii. If it is not evident on the face of an application that it was received by mail, telephone, or via an electronic medium, the creditor should indicate on the form or other application record how the application was received. 4. Video and other electronic-application processes. i. If a creditor takes an application through an electronic medium that allows the creditor to see the applicant, the creditor must treat the application as taken in person. The creditor must note the monitoring information on the basis of visual observation or surname, if the applicant chooses not to provide the information. ii. If an applicant applies through an electronic medium without video capability, the creditor treats the application as if it were received by mail. 5. Applications through loan-shopping services. When a creditor receives an application through an unaffiliated loan-shopping service, it does not have to request the monitoring information for purposes of the ECOA or Regulation B. Creditors subject to the Home Mortgage Disclosure Act should be aware, however, that data collection may be called for under Regulation C (12 CFR part 203), which generally requires creditors to report, among other things, the sex and race of an applicant on brokered applications or applications received through a correspondent. 6. Inadvertent notation. If a creditor inadvertently obtains the monitoring information in a dwelling-related transaction not covered by Sec. 202.13, the creditor may process and retain the application without violating the regulation. 13(c) Disclosure to applicants. 1. Procedures for providing disclosures. The disclosure to an applicant regarding the monitoring information may be provided in writing. Appendix B contains a sample disclosure. A creditor may devise its own disclosure so long as it is substantially similar. The creditor need not orally request the monitoring information if it is requested in writing. 13(d) Substitute monitoring program. 1. Substitute program. An enforcement agency may adopt, under its established rulemaking or enforcement procedures, a program requiring creditors under its jurisdiction to collect information in addition to information required by this section. Section 202.14--Rules on Providing Appraisal Reports 14(a) Providing appraisals. 1. Coverage. This section covers applications for credit to be secured by a lien on a dwelling, as that term is defined in Sec. 202.14(c), whether the credit is for a business purpose (for example, a loan to start a business) or a consumer purpose (for example, a loan to finance a child's education). 2. Renewals. This section applies when an applicant requests the renewal of an existing extension of credit and the creditor obtains a new appraisal report. This section does not apply when a creditor uses the appraisal report previously obtained to evaluate the renewal request. 14(a)(2)(i) Notice. 1. Multiple applicants. When an application that is subject to this section involves more than one applicant, the notice about the appraisal report need only be given to one applicant, but it must be given to the primary applicant where one is readily apparent. 14(a)(2)(ii) Delivery. 1. Reimbursement. Creditors may charge for photocopy and postage costs incurred in providing a copy of the appraisal report, unless prohibited by state or other law. If the consumer has already paid for the report--for example, as part of an application fee--the creditor may not require additional fees for the appraisal (other than photocopy and postage costs). 14(c) Definitions. 1. Appraisal reports. Examples of appraisal reports are: i. A report prepared by an appraiser (whether or not licensed or certified), including written comments and other documents submitted to the creditor in support of the appraiser's estimate or opinion of the property's value. ii. A document prepared by the creditor's staff that assigns value to the property, if a third-party appraisal report has not been used. iii. An internal review document reflecting that the creditor's valuation is different from a valuation in a third party's appraisal report (or different from valuations that are publicly available or valuations such as manufacturers' invoices for mobile homes). 2. Other reports. The term ``appraisal report'' does not cover all documents relating [[Page 71]] to the value of the applicant's property. Examples of reports not covered are: i. Internal documents, if a third-party appraisal report was used to establish the value of the property. ii. Governmental agency statements of appraised value. iii. Valuations lists that are publicly available (such as published sales prices or mortgage amounts, tax assessments, and retail price ranges) and valuations such as manufacturers' invoices for mobile homes. Section 202.15--Incentives for Self-Testing and Self-Correction 15(a) General rules. 15(a)(1) Voluntary self-testing and correction. 1. Activities required by any governmental authority are not voluntary self-tests. A governmental authority includes both administrative and judicial authorities for federal, state, and local governments. 15(a)(2) Corrective action required. 1. To qualify for the privilege, appropriate corrective action is required when the results of a self-test show that it is more likely than not that there has been a violation of the ECOA or this regulation. A self-test is also privileged when it identifies no violations. 2. In some cases, the issue of whether certain information is privileged may arise before the self-test is complete or corrective actions are fully under way. This would not necessarily prevent a creditor from asserting the privilege. In situations where the self-test is not complete, for the privilege to apply the lender must satisfy the regulation's requirements within a reasonable period of time. To assert the privilege where the self-test shows a likely violation, the rule requires, at a minimum, that the creditor establish a plan for corrective action and a method to demonstrate progress in implementing the plan. Creditors must take appropriate corrective action on a timely basis after the results of the self-test are known. 3. A creditor's determination about the type of corrective action needed, or a finding that no corrective action is required, is not conclusive in determining whether the requirements of this paragraph have been satisfied. If a creditor's claim of privilege is challenged, an assessment of the need for corrective action or the type of corrective action that is appropriate must be based on a review of the self-testing results, which may require an in camera inspection of the privileged documents. 15(a)(3) Other privileges. 1. A creditor may assert the privilege established under this section in addition to asserting any other privilege that may apply, such as the attorney-client privilege or the work-product privilege. Self-testing data may be privileged under this section whether or not the creditor's assertion of another privilege is upheld. 15(b) Self-test defined. 15(b)(1) Definition. Paragraph 15(b)(1)(i) 1. To qualify for the privilege, a self-test must be sufficient to constitute a determination of the extent or effectiveness of the creditor's compliance with the Act and Regulation B. Accordingly, a self-test is only privileged if it was designed and used for that purpose. A self-test that is designed or used to determine compliance with other laws or regulations or for other purposes is not privileged under this rule. For example, a self-test designed to evaluate employee efficiency or customers' satisfaction with the level of service provided by the creditor is not privileged even if evidence of discrimination is uncovered incidentally. If a self-test is designed for multiple purposes, only the portion designed to determine compliance with the ECOA is eligible for the privilege. Paragraph 15(b)(1)(ii) 1. The principal attribute of self-testing is that it constitutes a voluntary undertaking by the creditor to produce new data or factual information that otherwise would not be available and could not be derived from loan or application files or other records related to credit transactions. Self-testing includes, but is not limited to, the practice of using fictitious applicants for credit (testers), either with or without the use of matched pairs. A creditor may elect to test a defined segment of its business, for example, loan applications processed by a specific branch or loan officer, or applications made for a particular type of credit or loan program. A creditor also may use other methods of generating information that is not available in loan and application files, such as surveying mortgage loan applicants. To the extent permitted by law, creditors might also develop new methods that go beyond traditional pre-application testing, such as hiring testers to submit fictitious loan applications for processing. 2. The privilege does not protect a creditor's analysis performed as part of processing or underwriting a credit application. A creditor's evaluation or analysis of its loan files, Home Mortgage Disclosure Act data, or similar types of records (such as broker or loan officer compensation records) does not produce new information about a creditor's compliance and is not a self-test for purposes of this section. Similarly, a statistical analysis of data derived from existing loan files is not privileged. 15(b)(3) Types of information not privileged. [[Page 72]] Paragraph 15(b)(3)(i) 1. The information listed in this paragraph is not privileged and may be used to determine whether the prerequisites for the privilege have been satisfied. Accordingly, a creditor might be asked to identify the self-testing method, for example, whether preapplication testers were used or data were compiled by surveying loan applicants. Information about the scope of the self-test (such as the types of credit transactions examined, or the geographic area covered by the test) also is not privileged. Paragraph 15(b)(3)(ii) 1. Property appraisal reports, minutes of loan committee meetings or other documents reflecting the basis for a decision to approve or deny an application, loan policies or procedures, underwriting standards, and broker compensation records are examples of the types of records that are not privileged. If a creditor arranges for testers to submit loan applications for processing, the records are not related to actual credit transactions for purposes of this paragraph and may be privileged self-testing records. 15(c) Appropriate corrective action. 1. The rule only addresses the corrective actions required for a creditor to take advantage of the privilege in this section. A creditor may be required to take other actions or provide additional relief if a formal finding of discrimination is made. 15(c)(1) General requirement. 1. Appropriate corrective action is required even though no violation has been formally adjudicated or admitted by the creditor. In determining whether it is more likely than not that a violation occurred, a creditor must treat testers as if they are actual applicants for credit. A creditor may not refuse to take appropriate corrective action under this section because the self-test used fictitious loan applicants. The fact that a tester's agreement with the creditor waives the tester's legal right to assert a violation does not eliminate the requirement for the creditor to take corrective action, although no remedial relief for the tester is required under paragraph 15(c)(3). 15(c)(2) Determining the scope of appropriate corrective action. 1. Whether a creditor has taken or is taking corrective action that is appropriate will be determined on a case-by-case basis. Generally, the scope of the corrective action that is needed to preserve the privilege is governed by the scope of the self-test. For example, a creditor that self-tests mortgage loans and discovers evidence of discrimination may focus its corrective actions on mortgage loans, and is not required to expand its testing to other types of loans. 2. In identifying the policies or practices that are a likely cause of the violation, a creditor might identify inadequate or improper lending policies, failure to implement established policies, employee conduct, or other causes. The extent and scope of a likely violation may be assessed by determining which areas of operations are likely to be affected by those policies and practices, for example, by determining the types of loans and stages of the application process involved and the branches or offices where the violations may have occurred. 3. Depending on the method and scope of the self-test and the results of the test, appropriate corrective action may include one or more of the following: i. If the self-test identifies individuals whose applications were inappropriately processed, offering to extend credit if the application was improperly denied and compensating such persons for out-of-pocket costs and other compensatory damages; ii. Correcting institutional policies or procedures that may have contributed to the likely violation, and adopting new policies as appropriate; iii. Identifying and then training and/or disciplining the employees involved; iv. Developing outreach programs, marketing strategies, or loan products to serve more effectively segments of the lender's markets that may have been affected by the likely discrimination; and v. Improving audit and oversight systems to avoid a recurrence of the likely violations. 15(c)(3) Types of relief. Paragraph 15(c)(3)(ii) 1. The use of pre-application testers to identify policies and practices that illegally discriminate does not require creditors to review existing loan files for the purpose of identifying and compensating applicants who might have been adversely affected. 2. If a self-test identifies a specific applicant who was discriminated against on a prohibited basis, to qualify for the privilege in this section the creditor must provide appropriate remedial relief to that applicant; the creditor is not required to identify other applicants who might also have been adversely affected. Paragraph 15(c)(3)(iii) 1. A creditor is not required to provide remedial relief to an applicant that would not be available by law. An applicant might also be ineligible for certain types of relief due to changed circumstances. For example, a creditor is not required to offer credit to a denied applicant if the applicant no longer qualifies for the credit due to a change in financial circumstances, although some other type of relief might be appropriate. 15(d)(1) Scope of privilege. [[Page 73]] 1. The privilege applies with respect to any examination, investigation or proceeding by federal, state, or local government agencies relating to compliance with the Act or this regulation. Accordingly, in a case brought under the ECOA, the privilege established under this section preempts any inconsistent laws or court rules to the extent they might require disclosure of privileged self-testing data. The privilege does not apply in other cases (such as in litigation filed solely under a state's fair lending statute). In such cases, if a court orders a creditor to disclose self-test results, the disclosure is not a voluntary disclosure or waiver of the privilege for purposes of paragraph 15(d)(2); a creditor may protect the information by seeking a protective order to limit availability and use of the self-testing data and prevent dissemination beyond what is necessary in that case. Paragraph 15(d)(1) precludes a party who has obtained privileged information from using it in a case brought under the ECOA, provided the creditor has not lost the privilege through voluntary disclosure under paragraph 15(d)(2). 15(d)(2) Loss of privilege. Paragraph 15(d)(2)(i) 1. A creditor's corrective action, by itself, is not considered a voluntary disclosure of the self-test report or results. For example, a creditor does not disclose the results of a self-test merely by offering to extend credit to a denied applicant or by inviting the applicant to reapply for credit. Voluntary disclosure could occur under this paragraph, however, if the creditor disclosed the self-test results in connection with a new offer of credit. 2. The disclosure of self-testing results to an independent contractor acting as an auditor or consultant for the creditor on compliance matters does not result in loss of the privilege. Paragraph 15(d)(2)(ii) 1. The privilege is lost if the creditor discloses privileged information, such as the results of the self-test. The privilege is not lost if the creditor merely reveals or refers to the existence of the self-test. Paragraph 15(d)(2)(iii) 1. A creditor's claim of privilege may be challenged in a court or administrative law proceeding with appropriate jurisdiction. In resolving the issue, the presiding officer may require the creditor to produce privileged information about the self-test. Paragraph 15(d)(3) Limited use of privileged information 1. A creditor may be required to produce privileged documents for the purpose of determining a penalty or remedy after a violation of the ECOA or Regulation B has been formally adjudicated or admitted. A creditor's compliance with such a requirement does not evidence the creditor's intent to forfeit the privilege. Section 202.16--Enforcement, Penalties, and Liabilities 17(c) Failure of compliance. 1. Inadvertent errors. Inadvertent errors include, but are not limited to, clerical mistake, calculation error, computer malfunction, and printing error. An error of legal judgment is not an inadvertent error under the regulation. 2. Correction of error. For inadvertent errors that occur under Sec. Sec. 202.12 and 202.13, this section requires that they be corrected prospectively. Appendix B--Model Application Forms 1. Freddie Mac/Fannie Mae form--residential loan application. The uniform residential loan application form (Freddie Mac 65/Fannie Mae 1003), including supplemental form (Freddie Mac 65A/Fannie Mae 1003A), prepared by the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association and dated October 1992 may be used by creditors without violating this regulation. Creditors that are governed by the monitoring requirements of this regulation (which limits collection to applications primarily for the purchase or refinancing of the applicant's principal residence) should delete, strike, or modify the data-collection section on the form when using it for transactions not covered by Sec. 202.13(a) to ensure that they do not collect the information. Creditors that are subject to more extensive collection requirements by a substitute monitoring program under Sec. 202.13(d) or by the Home Mortgage Disclosure Act (HMDA) may use the form as issued, in compliance with the substitute program or HMDA. 2. FHLMC/FNMA form--home improvement loan application. The home- improvement and energy loan application form (FHLMC 703/FNMA 1012), prepared by the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association and dated October 1986, complies with the requirements of the regulation for some creditors but not others because of the form's section ``Information for Government Monitoring Purposes.'' Creditors that are governed by Sec. 202.13(a) of the regulation (which limits collection to applications primarily for the purchase or refinancing of the applicant's principal residence) should delete, strike, or modify the data-collection section on the form when using it for transactions not covered by Sec. 202.13(a) to ensure that they do not collect the information. Creditors that are subject to more extensive collection requirements by a substitute monitoring program [[Page 74]] under Sec. 202.13(d) may use the form as issued, in compliance with that substitute program. Appendix C--Sample Notification Forms 1. Form C-9. Creditors may design their own form, add to, or modify the model form to reflect their individual policies and procedures. For example, a creditor may want to add: i. A telephone number that applicants may call to leave their name and the address to which an appraisal report should be sent. ii. A notice of the cost the applicant will be required to pay the creditor for the appraisal or a copy of the report. [Reg. B, 68 FR 13161, Mar. 18, 2003, as amended at 72 FR 63451, Nov. 9, 2007; 72 FR 71057, Dec. 14, 2007; 76 FR 41602, July 15, 2011] PART 203 [RESERVED] PART 204_RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (REGULATION D)--Table of Contents Sec. 204.1 Authority, purpose and scope. 204.2 Definitions. 204.3 Reporting and location. 204.4 Computation of required services. 204.5 Maintenance of required reserves. 204.6 Charges for deficiencies. 204.7 Supplemental reserve requirement. 204.8 International banking facilities. 204.9 Emergency reserve requirement. 204.10 Payment of interest on balances. Interpretations 204.121 Bankers' banks. 204.122 Secondary market activities of international banking facilities. 204.123 Sale of Federal funds by investment companies or trusts in which the entire beneficial interest is held exclusively by depository institutions. 204.124 Repurchase agreement involving shares of a money market mutual fund whose portfolio consists wholly of United States Treasury and Federal agency securities. 204.125 Foreign, international, and supranational entities referred to in Sec. Sec. 204.2(c)(1)(iii)(E) and (f)(1)(iv)(E) and 204.8(a)(2)(i)(B)(5). 204.126 Depository institution participation in ``Federal funds'' market. 204.127 Nondepository participation in ``Federal funds'' market. 204.128 Deposits at foreign branches guaranteed by domestic office of a depository institution. 204.130 Eligibility for NOW accounts. 204.131 Participation by a depository institution in the secondary market for its own time deposits. 204.132 Treatment of loan strip participations. 204.133 Multiple savings deposits treated as a transaction account. 204.134 Linked time deposits and transaction accounts. 204.135 Shifting funds between depository institutions to make use of the low reserve tranche. 204.136 Treatment of trust overdrafts for reserve requirement reporting purposes. Authority: 12 U.S.C. 248(a), 248(c), 461, 601, 611, and 3105. Sec. 204.1 Authority, purpose and scope. (a) Authority. This part is issued under the authority of section 19 (12 U.S.C. 461 et seq.) and other provisions of the Federal Reserve Act and of section 7 of the International Banking Act of 1978 (12 U.S.C. 3105). (b) Purpose. This part relates to reserve requirements imposed on depository institutions for the purpose of facilitating the implementation of monetary policy by the Federal Reserve System. (c) Scope. (1) The following depository institutions are required to maintain reserves in accordance with this part: (i) Any insured bank as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(h)) or any bank that is eligible to apply to become an insured bank under section 5 of such Act (12 U.S.C. 1815); (ii) Any savings bank or mutual savings bank as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(f), (g)); (iii) Any insured credit union as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752(7)) or any credit union that is eligible to apply to become an insured credit union under section 201 of such Act (12 U.S.C. 1781); (iv) Any member as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422(4)); and (v) Any insured institution as defined in section 401 of the National Housing Act (12 U.S.C. 1724(a)) or any institution which is eligible to apply to become an insured institution under section 403 of such Act (12 U.S.C. 1726). (2) Except as may be otherwise provided by the Board, a foreign bank's branch or agency located in the United [[Page 75]] States is required to comply with the provisions of this part in the same manner and to the same extent as if the branch or agency were a member bank, if its parent foreign bank (i) has total worldwide consolidated bank assets in excess of $1 billion; or (ii) is controlled by a foreign company or by a group of foreign companies that own or control foreign banks that in the aggregate have total worldwide consolidated bank assets in excess of $1 billion. In addition, any other foreign bank's branch located in the United States that is eligible to apply to become an insured bank under section 5 of the Federal Deposit Insurance Act (12 U.S.C. 1815) is required to maintain reserves in accordance with this part as a nonmember depository institution. (3) Except as may be otherwise provided by the Board, an Edge Corporation (12 U.S.C. 611 et seq.) or an Agreement Corporation (12 U.S.C. 601 et seq.) is required to comply with the provisions of this part in the same manner and to the same extent as a member bank. (4) This part does not apply to any financial institution that (i) is organized solely to do business with other financial institutions; (ii) is owned primarily by the financial institutions with which it does business; and (iii) does not do business with the general public. (5) The provisions of this part do not apply to any deposit that is payable only at an office located outside the United States. [45 FR 56018, Aug. 22, 1980, as amended by Reg. D, 77 FR 21852, Apr. 12, 2012] Sec. 204.2 Definitions. For purposes of this part, the following definitions apply unless otherwise specified: (a)(1) Deposit means: (i) The unpaid balance of money or its equivalent received or held by a depository institution in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to an account, including interest credited, or which is evidenced by an instrument on which the depository institution is primarily liable; (ii) Money received or held by a depository institution, or the credit given for money or its equivalent received or held by the depository institution in the usual course of business for a special or specific purpose, regardless of the legal relationships established thereby, including escrow funds, funds held as security for securities loaned by the depository institution, funds deposited as advance payment on subscriptions to United States government securities, and funds held to meet its acceptances; (iii) An outstanding teller's check, or an outstanding draft, certified check, cashier's check, money order, or officer's check drawn on the depository institution, issued in the usual course of business for any purpose, including payment for services, dividends or purchases; (iv) Any due bill or other liability or undertaking on the part of a depository institution to sell or deliver securities to, or purchase securities for the account of, any customer (including another depository institution), involving either the receipt of funds by the depository institution, regardless of the use of the proceeds, or a debit to an account of the customer before the securities are delivered. A deposit arises thereafter, if after three business days from the date of issuance of the obligation, the depository institution does not deliver the securities purchased or does not fully collateralize its obligation with securities similar to the securities purchased. A security is similar if it is of the same type and if it is of comparable maturity to that purchased by the customer; (v) Any liability of a depository institution's affiliate that is not a depository institution, on any promissory note, acknowledgment of advance, due bill, or similar obligation (written or oral), with a maturity of less than one and one-half years, to the extent that the proceeds are used to supply or to maintain the availability of funds (other than capital) to the depository institution, except any such obligation that, had it been issued directly by the depository institution, would not constitute a deposit. If an obligation of an affiliate of a depository institution is regarded as a deposit and is used to [[Page 76]] purchase assets from the depository institution, the maturity of the deposit is determined by the shorter of the maturity of the obligation issued or the remaining maturity of the assets purchased. If the proceeds from an affiliate's obligation are placed in the depository institution in the form of a reservable deposit, no reserves need be maintained against the obligation of the affiliate since reserves are required to be maintained against the deposit issued by the depository institution. However, the maturity of the deposit issued to the affiliate shall be the shorter of the maturity of the affiliate's obligation or the maturity of the deposit; (vi) Credit balances; (vii) Any liability of a depository institution on any promissory note, acknowledgment of advance, bankers' acceptance, or similar obligation (written or oral), including mortgage-backed bonds, that is issued or undertaken by a depository institution as a means of obtaining funds, except any such obligation that: (A) Is issued or undertaken and held for the account of: (1) An office located in the United States of another depository institution, foreign bank, Edge or Agreement Corporation, or New York Investment (Article XII) Company; (2) The United States government or an agency thereof; or (3) The Export-Import Bank of the United States, Minbanc Capital Corporation, the Government Development Bank for Puerto Rico, a Federal Reserve Bank, a Federal Home Loan Bank, or the National Credit Union Administration Central Liquidity Facility; (B) Arises from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States Government or any agency thereof that the depository institution is obligated to repurchase; (C) Is not insured by a Federal agency, is subordinated to the claims of depositors, has a weighted average maturity of five years or more, and is issued by a depository institution with the approval of, or under the rules and regulations of, its primary Federal supervisor; (D) Arises from a borrowing by a depository institution from a dealer in securities, for one business day, of proceeds of a transfer of deposit credit in a Federal Reserve Bank or other immediately available funds (commonly referred to as Federal funds), received by such dealer on the date of the loan in connection with clearance of securities transactions; or (E) Arises from the creation, discount and subsequent sale by a depository institution of its bankers' acceptance of the type described in paragraph 7 of section 13 of the Federal Reserve Act (12 U.S.C. 372). (viii) Any liability of a depository institution that arises from the creation after June 20, 1983, of a bankers' acceptance that is not of the type described in paragraph 7 of section 13 of the Federal Reserve Act (12 U.S.C. 372) except any such liability held for the account of an entity specified in Sec. 204.2(a)(1)(vii)(A); or (2) Deposit does not include: (i) Trust funds received or held by the depository institution that it keeps properly segregated as trust funds and apart from its general assets or which it deposits in another institution to the credit of itself as trustee or other fiduciary. If trust funds are deposited with the commercial department of the depository institution or otherwise mingled with its general assets, a deposit liability of the institution is created; (ii) An obligation that represents a conditional, contingent or endorser's liability; (iii) Obligations, the proceeds of which are not used by the depository institution for purposes of making loans, investments, or maintaining liquid assets such as cash or ``due from'' depository institutions or other similar purposes. An obligation issued for the purpose of raising funds to purchase business premises, equipment, supplies, or similar assets is not a deposit; (iv) Accounts payable; (v) Hypothecated deposits created by payments on an installment loan where (A) the amounts received are not used immediately to reduce the unpaid balance due on the loan until the sum of [[Page 77]] the payments equals the entire amount of loan principal and interest; (B) and where such amounts are irrevocably assigned to the depository institution and cannot be reached by the borrower or creditors of the borrower; (vi) Dealer reserve and differential accounts that arise from the financing of dealer installment accounts receivable, and which provide that the dealer may not have access to the funds in the account until the installment loans are repaid, as long as the depository institution is not actually (as distinguished from contingently) obligated to make credit or funds available to the dealer; (vii) A dividend declared by a depository institution for the period intervening between the date of the declaration of the dividend and the date on which it is paid; (viii) An obligation representing a pass through account, as defined in this section; (ix) An obligation arising from the retention by the depository institution of no more than a 10 per cent interest in a pool of conventional 1-4 family mortgages that are sold to third parties; (x) An obligation issued to a State or municipal housing authority under a loan-to-lender program involving the issuance of tax exempt bonds and the subsequent lending of the proceeds to the depository institution for housing finance purposes; (xi) Shares of a credit union held by the National Credit Union Administration or the National Credit Union Administration Central Liquidity Facility under a statutorily authorized assistance program; and (xii) Any liability of a United States branch or agency of a foreign bank to another United States branch or agency of the same foreign bank, or the liability of the United States office of an Edge Corporation to another United States office of the same Edge Corporation. (b)(1) Demand deposit means a deposit that is payable on demand, or a deposit issued with an original maturity or required notice period of less than seven days, or a deposit representing funds for which the depository institution does not reserve the right to require at least seven days' written notice of an intended withdrawal. Demand deposits may be in the form of: (i) Checking accounts; (ii) Certified, cashier's, teller's, and officer's checks (including such checks issued in payment of dividends); (iii) Traveler's checks and money orders that are primary obligations of the issuing institution; (iv) Checks or drafts drawn by, or on behalf of, a non-United States office of a depository institution on an account maintained at any of the institution's United States offices; (v) Letters of credit sold for cash or its equivalent; (vi) Withheld taxes, withheld insurance and other withheld funds; (vii) Time deposits that have matured or time deposits upon which the contractually required notice of withdrawal as given and the notice period has expired and which have not been renewed (either by action of the depositor or automatically under the terms of the deposit agreement); and (viii) An obligation to pay, on demand or within six days, a check (or other instrument, device, or arrangement for the transfer of funds) drawn on the depository institution, where the account of the institution's customer already has been debited. (2) The term demand deposit also means deposits or accounts on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and from which the depositor is authorized to make withdrawals or transfers in excess of the withdrawal or transfer limitations specified in paragraph (d)(2) of this section for such an account and the account is not a NOW account, or an ATS account or other account that meets the criteria specified in either paragraph (b)(3)(ii) or (iii) of this section. (3) Demand deposit does not include: (i) Any account that is a time deposit or a savings deposit under this part; (ii) Any deposit or account on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and either-- [[Page 78]] (A) Is subject to check, draft, negotiable order of withdrawal, share draft, or similar item, such as an account authorized by 12 U.S.C. 1832(a) (NOW account) and a savings deposit described in Sec. 204.2(d)(2), provided that the depositor is eligible to hold a NOW account; or (B) From which the depositor is authorized to make transfers by preauthorized transfer or telephonic (including data transmission) agreement, order or instruction to another account or to a third party, provided that the depositor is eligible to hold a NOW account; (iii) Any deposit or account on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and from which withdrawals may be made automatically through payment to the depository institution itself or through transfer of credit to a demand deposit or other account in order to cover checks or drafts drawn upon the institution or to maintain a specified balance in, or to make periodic transfers to such other account, such as accounts authorized by 12 U.S.C. 371a (automatic transfer account or ATS account), provided that the depositor is eligible to hold an ATS account; or (iv) IBF time deposits meeting the requirements of Sec. 204.8(a)(2). (c)(1) Time deposit means: (i) A deposit that the depositor does not have a right and is not permitted to make withdrawals from within six days after the date of deposit unless the deposit is subject to an early withdrawal penalty of at least seven days' simple interest on amounts withdrawn within the first six days after deposit. \1\ A time deposit from which partial early withdrawals are permitted must impose additional early withdrawal penalties of at least seven days' simple interest on amounts withdrawn within six days after each partial withdrawal. If such additional early withdrawal penalties are not imposed, the account ceases to be a time deposit. The account may become a savings deposit if it meets the requirements for a saving deposit; otherwise it becomes a transaction account. Time deposit includes funds-- --------------------------------------------------------------------------- \1\ A time deposit, or a portion thereof, may be paid during the period when an early withdrawal penalty would otherwise be required under this part without imposing an early withdrawal penalty specified by this part: (a) Where the time deposit is maintained in an individual retirement account established in accordance with 26 U.S.C. 408 and is paid within seven days after establishment of the individual retirement account pursuant to 26 CFR 1.408-6(d)(4), where it is maintained in a Keogh (H.R. 10) plan, or where it is maintained in a 401(k) plan under 26 U.S.C. 401(k); Provided that the depositor forfeits an amount at least equal to the simple interest earned on the amount withdrawn; (b) Where the depository institution pays all or a portion of a time deposit representing funds contributed to an individual retirement account or a Keogh (H.R.10) plan established pursuant to 26 U.S.C. 408 or 26 U.S.C. 401 or to a 401(k) plan established pursuant to 26 U.S.C. 401(k) when the individual for whose benefit the account is maintained attains age 59\1/2\ or is disabled (as defined in 26 U.S.C. 72(m)(7)) or thereafter; (c) Where the depository institution pays that portion of a time deposit on which federal deposit insurance has been lost as a result of the merger of two or more federally insured banks in which the depositor previously maintained separate time deposits, for a period of one year from the date of the merger; (d) Upon the death of any owner of the time deposit funds; (e) When any owner of the time deposit is determined to be legally incompetent by a court or other administrative body of competent jurisdiction; or (f) Where a time deposit is withdrawn within ten days after a specified maturity date even though the deposit contract provided for automatic renewal at the maturity date. --------------------------------------------------------------------------- (A) Payable on a specified date not less than seven days after the date of deposit; (B) Payable at the expiration of a specified time not less than seven days after the date of deposit; (C) Payable only upon written notice that is actually required to be given by the depositor not less than seven days prior to withdrawal; (D) Held in club accounts (such as Christmas club accounts and vacation club accounts that are not maintained as savings deposits) that are deposited under written contracts providing that no withdrawal shall be made until a certain number of periodic deposits [[Page 79]] have been made during a period of not less than three months even though some of the deposits may be made within six days from the end of the period; or (E) Share certificates and certificates of indebtedness issued by credit unions, and certificate accounts and notice accounts issued by savings and loan associations; (ii) An IBF time deposit meeting the requirements of Sec. 204.8(a)(2); and (iii) Borrowings, regardless of maturity, represented by a promissory note, an acknowledgment of advance, or similar obligation described in Sec. 204.2(a)(1)(vii) that is issued to, or any bankers' acceptance (other than the type described in 12 U.S.C. 372) of the depository institution held by-- (A) Any office located outside the United States of another depository institution or Edge or agreement corporation organized under the laws of the United States; (B) Any office located outside the United States of a foreign bank; (C) A foreign national government, or an agency or instrumentality thereof, \2\ engaged principally in activities which are ordinarily performed in the United States by governmental entities; --------------------------------------------------------------------------- \2\ Other than states, provinces, municipalities, or other regional or local governmental units or agencies or instrumentalities thereof. --------------------------------------------------------------------------- (D) An international entity of which the United States is a member; or (E) Any other foreign, international, or supranational entity specifically designated by the Board. \3\ --------------------------------------------------------------------------- \3\ The designated entities are specified in 12 CFR 204.125. --------------------------------------------------------------------------- (2) A time deposit may be represented by a transferable or nontransferable, or a negotiable or nonnegotiable, certificate, instrument, passbook, or statement, or by book entry or otherwise. (d)(1) Savings deposit means a deposit or account with respect to which the depositor is not required by the deposit contract but may at any time be required by the depository institution to give written notice of an intended withdrawal not less than seven days before withdrawal is made, and that is not payable on a specified date or at the expiration of a specified time after the date of deposit. The term savings deposit includes a regular share account at a credit union and a regular account at a savings and loan association. (2) The term ``savings deposit'' also means: A deposit or account, such as an account commonly known as a passbook savings account, a statement savings account, or as a money market deposit account (MMDA), that otherwise meets the requirements in paragraph (d)(1) of this section and from which, under the terms of the deposit contract or by practice of the depository institution, the depositor may be permitted or authorized to make transfers and withdrawals to another account (including a transaction account) of the depositor at the same institution or to a third party, regardless of the number of such transfers and withdrawals or the manner in which such transfers and withdrawals are made. (3) A deposit may continue to be classified as a savings deposit even if the depository institution exercises its right to require notice of withdrawal. (4) Savings deposit does not include funds deposited to the credit of the depository institution's own trust department where the funds involved are utilized to cover checks or drafts. Such funds are transaction accounts. (e) Transaction account means a deposit or account from which the depositor or account holder is permitted to make transfers or withdrawals by negotiable or transferable instrument, payment order of withdrawal, telephone transfer, or other similar device for the purpose of making payments or transfers to third persons or others or from which the depositor may make third party payments at an automated teller machine (ATM) or a remote service unit, or other electronic device, including by debit card. Transaction account includes: (1) Demand deposits; (2) Deposits or accounts on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and that are subject to check, draft, negotiable order of withdrawal, share draft, or other similar item, including accounts described in paragraph (d)(2) of this section (savings deposits) and [[Page 80]] including accounts authorized by 12 U.S.C. 1832(a) (NOW accounts). (3) Deposits or accounts on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and from which withdrawals may be made automatically through payment to the depository institution itself or through transfer or credit to a demand deposit or other account in order to cover checks or drafts drawn upon the institution or to maintain a specified balance in, or to make periodic transfers to such accounts, including accounts authorized by 12 U.S.C. 371a (automatic transfer accounts or ATS accounts). (4) Deposits or accounts on which the depository institution has reserved the right to require at least seven days' written notice prior to withdrawal or transfer of any funds in the account and under the terms of which, or by practice of the depository institution, the depositor is permitted or authorized to make withdrawals for the purposes of transferring funds to another account of the depositor at the same institution (including transaction account) or for making payment to a third party, regardless of the number of such transfers and withdrawals and regardless of the manner in which such transfers and withdrawals are made. (5) Deposits or accounts maintained in connection with an arrangement that permits the depositor to obtain credit directly or indirectly through the drawing of a negotiable or nonnegotiable check, draft, order or instruction or other similar device (including telephone or electronic order or instruction) on the issuing institution that can be used for the purpose of making payments or transfers to third persons or others or to a deposit account of the depositor. (6) All deposits other than time deposits, including those accounts that are time deposits in form but that the Board has determined, by rule or order, to be transaction accounts. (f)(1) Nonpersonal time deposit means: (i) A time deposit, including an MMDA or any other savings deposit, representing funds in which any beneficial interest is held by a depositor which is not a natural person; (ii) A time deposit, including an MMDA or any other savings deposit, that represents funds deposited to the credit of a depositor that is not a natural person, other than a deposit to the credit of a trustee or other fiduciary if the entire beneficial interest in the deposit is held by one or more natural persons; (iii) A transferable time deposit. A time deposit is transferable unless it contains a specific statement on the certificate, instrument, passbook, statement or other form representing the account that it is not transferable. A time deposit that contains a specific statement that it is not transferable is not regarded as transferable even if the following transactions can be effected: a pledge as collateral for a loan, a transaction that occurs due to circumstances arising from death, incompetency, marriage, divorce, attachment, or otherwise by operation of law or a transfer on the books or records of the institution; and (iv) A time deposit represented by a promissory note, an acknowledgment of advance, or similar obligation described in paragraph (a)(1)(vii) of this section that is issued to, or any bankers' acceptance (other than the type described in 12 U.S.C. 372) of the depository institution held by: (A) Any office located outside the United States of another depository institution or Edge or agreement corporation organized under the laws of the United States; (B) Any office located outside the United States of a foreign bank; (C) A foreign national government, or an agency or instrumentality thereof, \5\ engaged principally in activities which are ordinarily performed in the United States by governmental entities; --------------------------------------------------------------------------- \5\ Other than states, provinces, municipalities, or other regional or local governmental units or agencies or instrumentalities thereof. --------------------------------------------------------------------------- (D) An international entity of which the United States is a member; or (E) Any other foreign, international, or supranational entity specifically designated by the Board. \6\ --------------------------------------------------------------------------- \6\ The designated entities are specified in 12 CFR 204.125. --------------------------------------------------------------------------- [[Page 81]] (2) Nonpersonal time deposit does not include nontransferable time deposits to the credit of or in which the entire beneficial interest is held by an individual pursuant to an individual retirement account or Keogh (H.R. 10) plan under 26 U.S.C. 408, 401, or non-transferable time deposits held by an employer as part of an unfunded deferred- compensation plan established pursuant to subtitle D of the Revenue Act of 1978 (Pub. L. 95-600, 92 Stat. 2763), or a 401(k) plan under 26 U.S.C. 401(k). (g) Natural person means an individual or a sole proprietorship. The term does not mean a corporation owned by an individual, a partnership or other association. (h) Eurocurrency liabilities means: (1) For a depository institution or an Edge or Agreement Corporation organized under the laws of the United States, the sum, if positive, of the following: (i) Net balances due to its non-United States offices and its international banking facilities (IBFs) from its United States offices; (ii)(A) For a depository institution organized under the laws of the United States, assets (including participations) acquired from its United States offices and held by its non-United States offices, by its IBF, or by non-United States offices of an affiliated Edge or Agreement Corporation; \7\ or --------------------------------------------------------------------------- \7\ This paragraph does not apply to assets that were acquired by an IBF from its establishing entity before the end of the second reserve computation period after its establishment. --------------------------------------------------------------------------- (B) For an Edge or Agreement Corporation, assets (including participations) acquired from its United States offices and held by its non-United States offices, by its IBF, by non-United States offices of its U.S. or foreign parent institution, or by non-United States offices of an affiliated Edge or Agreement Corporation; and (iii) Credit outstanding from its non-United States offices to United States residents (other than assets acquired and net balances due from its United States offices), except credit extended (A) from its non-United States offices in the aggregate amount of $100,000 or less to any United States resident, (B) by a non-United States office that at no time during the computation period had credit outstanding to United States residents exceeding $1 million, (C) to an international banking facility, or (D) to an institution that will be maintaining reserves on such credit pursuant to this part. Credit extended from non-United States offices or from IBFs to a foreign branch, office, subsidiary, affiliate of other foreign establishment (foreign affiliate) controlled by one or more domestic corporations is not regarded as credit extended to a United States resident if the proceeds will be used to finance the operations outside the United States of the borrower or of other foreign affiliates of the controlling domestic corporation(s). (2) For a United States branch or agency of a foreign bank, the sum, if positive, of the following: (i) Net balances due to its foreign bank (including offices thereof located outside the United States) and its international banking facility after deducting an amount equal to 8 per cent of the following: the United States branch's or agency's total assets less the sum of (A) cash items in process of collection; (B) unposted debits; (C) demand balances due from depository institutions organized under the laws of the United States and from other foreign banks; (D) balances due from foreign central banks; and (E) positive net balances due from its IBF, its foreign bank, and the foreign bank's United States and non-United States offices; and (ii) Assets (including participations) acquired from the United States branch or agency (other than assets required to be sold by Federal or State supervisory authorities) and held by its foreign bank (including offices thereof located outside the United States), by its parent holding company, by non-United States offices or an IBF of an affiliated Edge or Agreement Corporation, or by its IBFs. \8\ --------------------------------------------------------------------------- \8\ See footnote 7. --------------------------------------------------------------------------- (i)(1) Cash item in process of collection means: (i) Checks in the process of collection, drawn on a bank or other depository institution that are payable immediately upon presentation in the [[Page 82]] United States, including checks forwarded to a Federal Reserve Bank in process of collection and checks on hand that will be presented for payment or forwarded for collection on the following business day; (ii) Government checks drawn on the Treasury of the United States that are in the process of collection; and (iii) Such other items in the process of collection, that are payable immediately upon presentation in the United States and that are customarily cleared or collected by depository institutions as cash items, including: (A) Drafts payable through another depository institution; (B) Matured bonds and coupons (including bonds and coupons that have been called and are payable on presentation); (C) Food coupons and certificates; (D) Postal and other money orders, and traveler's checks; (E) Amounts credited to deposit accounts in connection with automated payment arrangements where such credits are made one business day prior to the scheduled payment date to insure that funds are available on the payment date; (F) Commodity or bill of lading drafts payable immediately upon presentation in the United States; (G) Returned items and unposted debits; and (H) Broker security drafts. (2) Cash item in process of collection does not include items handled as noncash collections and credit card sales slips and drafts. (j) Net transaction accounts means the total amount of a depository institution's transaction accounts less the deductions allowed under the provisions of Sec. 204.3. (k)(1) Vault cash means United States currency and coin owned and booked as an asset by a depository institution that may, at any time, be used to satisfy claims of that depository institution's depositors and that meets the requirements of paragraph (k)(2)(i) or (k)(2)(ii) of this section. (2) Vault cash must be either: (i) Held at a physical location of the depository institution (including the depository institution's proprietary ATMs) from which the institution's depositors may make cash withdrawals; or (ii) Held at an alternate physical location if-- (A) The depository institution claiming the currency and coin as vault cash at all times retains full rights of ownership in and to the currency and coin held at the alternate physical location; (B) The depository institution claiming the currency and coin as vault cash at all times books the currency and coin held at the alternate physical location as an asset of the depository institution; (C) No other depository institution claims the currency and coin held at the alternate physical location as vault cash in satisfaction of that other depository institution's reserve requirements; (D) The currency and coin held at the alternate physical location is reasonably nearby a location of the depository institution claiming the currency and coin as vault cash at which its depositors may make cash withdrawals (an alternate physical location is considered ``reasonably nearby'' if the depository institution that claims the currency and coin as vault cash can recall the currency and coin from the alternate physical location by 10 a.m. and, relying solely on ground transportation, receive the currency and coin not later than 4 p.m. on the same calendar day at a location of the depository institution at which its depositors may make cash withdrawals); and (E) The depository institution claiming the currency and coin as vault cash has in place a written cash delivery plan and written contractual arrangements necessary to implement that plan that demonstrate that the currency and coin can be recalled and received in accordance with the requirements of paragraph (k)(2)(ii)(D) of this section at any time. The depository institution shall provide copies of the written cash delivery plan and written contractual arrangements to the Federal Reserve Bank that holds its account or to the Board upon request. (3) ``Vault cash'' includes United States currency and coin in transit to a Federal Reserve Bank or a correspondent depository institution for [[Page 83]] which the reporting depository institution has not yet received credit, and United States currency and coin in transit from a Federal Reserve Bank or a correspondent depository institution when the reporting depository institution's account at the Federal Reserve or correspondent bank has been charged for such shipment. (4) Silver and gold coin and other currency and coin whose numismatic or bullion value is substantially in excess of face value is not vault cash for purposes of this part. (l) Pass-through account means a balance maintained by a depository institution with a correspondent institution under Sec. 204.5(d). (m)(1) Depository institution means: (i) Any insured bank as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(h)) or any bank that is eligible to apply to become an insured bank under section 5 of such Act (12 U.S.C. 1815); (ii) Any savings bank or mutual savings bank as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(f), (g)); (iii) Any insured credit union as defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752(7)) or any credit union that is eligible to apply to become an insured credit union under section 201 of such Act (12 U.S.C. 1781); (iv) Any member as defined in section 2 of the Federal Home Loan Bank Act (12 U.S.C. 1422(4)); and (v) Any insured institution as defined in section 401 of the National Housing Act (12 U.S.C. 1724(a)) or any institution which is eligible to apply to become an insured institution under section 403 of such Act (12 U.S.C. 1726). (2) Depository institution does not include international organizations such as the World Bank, the Inter-American Development Bank, and the Asian Development Bank. (n) Member bank means a depository institution that is a member of the Federal Reserve System. (o) Foreign bank means any bank or other similar institution organized under the laws of any country other than the United States or organized under the laws of Puerto Rico, Guam, American Samoa, the Virgin Islands, or other territory or possession of the United States. (p) [Reserved] (q) Affiliate includes any corporation, association, or other organization: (1) Of which a depository institution, directly or indirectly, owns or controls either a majority of the voting shares or more than 50 percent of the numbers of shares voted for the election of its directors, trustees, or other persons exercising similar functions at the preceding election, or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions; (2) Of which control is held, directly or indirectly, through stock ownership or in any other manner, by the shareholders of a depository institution who own or control either a majority of the shares of such depository institution or more than 50 percent of the number of shares voted for the election of directors of such depository institution at the preceding election, or by trustees for the benefit of the shareholders of any such depository institution; (3) Of which a majority of its directors, trustees, or other persons exercising similar functions are directors of any one depository institution; or (4) Which owns or controls, directly or indirectly, either a majority of the shares of capital stock of a depository institution or more than 50 percent of the number of shares voted for the election of directors, trustees or other persons exercising similar functions of a depository institution at the preceding election, or controls in any manner the election of a majority of the directors, trustees, or other persons exercising similar functions of a depository institution, or for the benefit of whose shareholders or members all or substantially all the capital stock of a depository institution is held by trustees. (r) United States means the States of the United States and the District of Columbia. (s) United States resident means (1) any individual residing (at the time of the transaction) in the United States; (2) any corporation, partnership, association or other entity organized in the United States (domestic corporation); and (3) any branch or office located in [[Page 84]] the United States of any entity that is not organized in the United States. (t) Any deposit that is payable only at an office located outside the United States means (1) a deposit of a United States resident \9\ that is in a denomination of $100,000 or more, and as to which the depositor is entitled, under the agreement with the institution, to demand payment only outside the United States or (2) a deposit of a person who is not a United States resident \9\ as to which the depositor is entitled, under the agreement with the institution, to demand payment only outside the United States. --------------------------------------------------------------------------- \9\ A deposit of a foreign branch, office, subsidiary, affiliate or other foreign establishment (foreign affiliate) controlled by one or more domestic corporations is not regarded as a deposit of a United States resident if the funds serve a purpose in connection with its foreign or international business or that of other foreign affiliates of the controlling domestic corporation(s). --------------------------------------------------------------------------- (u) Teller's check means a check drawn by a depository institution on another depository institution, a Federal Reserve Bank, or a Federal Home Loan Bank, or payable at or through a depository institution, a Federal Reserve Bank, or a Federal Home Loan Bank, and which the drawing depository institution engages or is obliged to pay upon dishonor. (v)-(x) [Reserved] (y) Eligible institution means-- (1) Any depository institution as described in Sec. 204.1(c) of this part; (2) Any trust company; (3) Any corporation organized under section 25A of the Federal Reserve Act (12 U.S.C. 611 et seq.) or having an agreement with the Board under section 25 of the Federal Reserve Act (12 U.S.C. 601 et seq.); and (4) Any branch or agency of a foreign bank (as defined in section 1(b) of the International Banking Act of 1978, 12 U.S.C. 3101(b)). (z) Excess balance means the average balance maintained in an account at a Federal Reserve Bank by or on behalf of an institution over a reserve maintenance period that exceeds the top of the penalty-free band. (aa) Excess balance account means an account at a Reserve Bank pursuant to Sec. 204.10(d) of this chapter that is established by one or more eligible institutions through an agent and in which only balances of the participating eligible institutions may at any time be maintained. An excess balance account is not a ``pass-through account'' for purposes of this part. (bb) Balance maintained to satisfy a reserve balance requirement means the average balance held in an account at a Federal Reserve Bank by or on behalf of an institution over a reserve maintenance period to satisfy a reserve balance requirement of this part. (cc) Targeted federal funds rate means the federal funds rate established from time to time by the Federal Open Market Committee. (dd) Term deposit means those funds of an eligible institution that are maintained by that institution for a specified maturity at a Federal Reserve Bank pursuant to section 204.10(e) of this part. (ee) Reserve balance requirement means the balance that a depository institution is required to maintain on average over a reserve maintenance period in an account at a Federal Reserve Bank if vault cash does not fully satisfy the depository institution's reserve requirement imposed by this part. (ff) Deficiency means the bottom of the penalty-free band less the average balance maintained in an account at a Federal Reserve Bank by or on behalf of an institution over a reserve maintenance period. (gg) Top of the penalty-free band means an amount equal to an institution's reserve balance requirement plus an amount that is the greater of 10 percent of the institution's reserve balance requirement or $50,000. The top of the penalty-free band for a pass-through correspondent is an amount equal to the aggregate reserve balance requirement of the correspondent (if any) and all of its respondents plus an amount that is the greater of 10 percent of that aggregate reserve balance requirement or $50,000. (hh) Bottom of the penalty-free band means an amount equal to an institution's reserve balance requirement less an amount that is the greater of 10 percent of the institution's reserve balance requirement or $50,000. The bottom of the penalty-free band for a pass- [[Page 85]] through correspondent is an amount equal to the aggregate reserve balance requirement of the correspondent (if any) and all of its respondents less an amount that is the greater of 10 percent of that aggregate reserve balance requirement or $50,000. In no case will the penalty-free band be less than zero. [Reg. D, 45 FR 56018, Aug. 22, 1980] Editorial Note: For Federal Register citations affecting Sec. 204.2, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Sec. 204.3 Reporting and location. (a) Every depository institution, U.S. branch or agency of a foreign bank, and Edge or Agreement corporation shall file a report of deposits (or any other form or statement that may be required by the Board or by a Federal Reserve Bank) with the Federal Reserve Bank in the Federal Reserve District in which it is located, regardless of the manner in which it chooses to maintain required reserve balances. (b) A foreign bank's U.S. branches and agencies and an Edge or Agreement corporation's offices operating within the same State and the same Federal Reserve District shall prepare and file a report of deposits on an aggregated basis. (c) For purposes of this part, the obligations of a majority-owned (50 percent or more) U.S. subsidiary (except an Edge or Agreement corporation) of a depository institution shall be regarded as obligations of the parent depository institution. (d) A depository institution, a foreign bank, or an Edge or Agreement corporation shall, if possible, assign the low reserve tranche and reserve requirement exemption prescribed in Sec. 204.4(f) to only one office or to a group of offices filing a single aggregated report of deposits. The amount of the reserve requirement exemption allocated to an office or group of offices may not exceed the amount of the low reserve tranche allocated to such office or offices. If the low reserve tranche or reserve requirement exemption cannot be fully utilized by a single office or by a group of offices filing a single report of deposits, the unused portion of the tranche or exemption may be assigned to other offices or groups of offices of the same institution until the amount of the tranche (or net transaction accounts) or exemption (or reservable liabilities) is exhausted. The tranche or exemption may be reallocated each year concurrent with implementation of the indexed tranche and exemption, or, if necessary during the course of the year to avoid underutilization of the tranche or exemption, at the beginning of a reserve computation period. (e) Computation of transaction accounts. Overdrafts in demand deposit or other transaction accounts are not to be treated as negative demand deposits or negative transaction accounts and shall not be netted since overdrafts are properly reflected on an institution's books as assets. However, where a customer maintains multiple transaction accounts with a depository institution, overdrafts in one account pursuant to a bona fide cash management arrangement are permitted to be netted against balances in other related transaction accounts for reserve requirement purposes. (f) The Board and the Federal Reserve Banks will not hold a pass- through correspondent responsible for guaranteeing the accuracy of the reports of deposits submitted by its respondents. (g)(1) For purposes of this section, a depository institution, a U.S. branch or agency of a foreign bank, or an Edge or Agreement corporation is located in the Federal Reserve District that contains the location specified in the institution's charter, organizing certificate, license, or articles of incorporation, or as specified by the institution's primary regulator, or if no such location is specified, the location of its head office, unless otherwise determined by the Board under paragraph (g)(2) of this section. (2) If the location specified in paragraph (g)(1) of this section, in the Board's judgment, is ambiguous, would impede the ability of the Board or the Federal Reserve Banks to perform their functions under the Federal Reserve Act, or would impede the ability of the institution to operate efficiently, the Board will determine the Federal Reserve District in which the [[Page 86]] institution is located, after consultation with the institution and the relevant Federal Reserve Banks. The relevant Federal Reserve Banks are the Federal Reserve Bank whose District contains the location specified in paragraph (g)(1) of this section and the Federal Reserve Bank in whose District the institution is proposed to be located. In making this determination, the Board will consider any applicable laws, the business needs of the institution, the location of the institution's head office, the locations where the institution performs its business, and the locations that would allow the institution, the Board, and the Federal Reserve Banks to perform their functions efficiently and effectively. [45 FR 56018, Aug. 22, 1980] Editorial Note: For Federal Register citations affecting Sec. 204.3, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Sec. 204.4 Computation of required reserves. (a) In determining the reserve requirement under this part, the amount of cash items in process of collection and balances subject to immediate withdrawal due from other depository institutions located in the United States (including such amounts due from United States branches and agencies of foreign banks and Edge and Agreement corporations) may be deducted from the amount of gross transaction accounts. The amount that may be deducted may not exceed the amount of gross transaction accounts. (b) United States branches and agencies of a foreign bank may not deduct balances due from another United States branch or agency of the same foreign bank, and United States offices of an Edge or Agreement Corporation may not deduct balances due from another United States office of the same Edge or Agreement Corporation. (c) Balances ``due from other depository institutions'' do not include balances due from Federal Reserve Banks, pass-through accounts, or balances (payable in dollars or otherwise) due from banking offices located outside the United States. An institution exercising fiduciary powers may not include in balances ``due from other depository institutions'' amounts of trust funds deposited with other banks and due to it as a trustee or other fiduciary. (d) For institutions that file a report of deposits weekly, reserve requirements are computed on the basis of the institution's daily average balances of deposits and Eurocurrency liabilities during a 14- day computation period ending every second Monday. (e) For institutions that file a report of deposits quarterly, reserve requirements are computed on the basis of the institution's daily average balances of deposits and Eurocurrency liabilities during the 7-day computation period that begins on the third Tuesday of March, June, September, and December. (f) For all depository institutions, Edge and Agreement corporations, and United States branches and agencies of foreign banks, required reserves are computed by applying the reserve requirement ratios in table 1 to this paragraph (f) to net transaction accounts, nonpersonal time deposits, and Eurocurrency liabilities of the institution during the computation period. Table 1 to Paragraph (f) ------------------------------------------------------------------------ Reservable liability Reserve requirement ------------------------------------------------------------------------ Net Transaction Accounts: $0 to reserve requirement exemption amount ($36.1 million). Over reserve requirement exemption 0 percent of amount. amount ($36.1 million) and up to low reserve tranche ($644.0 million). Over low reserve tranche ($644.0 $0 plus 0 percent of million). amount over $644.0 million. Nonpersonal time deposits............... 0 percent. Eurocurrency liabilities................ 0 percent. ------------------------------------------------------------------------ [[Page 87]] [Reg. D, 74 FR 25637, May 29, 2009] Editorial Note: For Federal Register citations affecting Sec. 204.4, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Sec. 204.5 Maintenance of required reserves. (a)(1) A depository institution, a U.S. branch or agency of a foreign bank, and an Edge or Agreement corporation shall satisfy reserve requirements by maintaining vault cash and, if vault cash does not fully satisfy the institution's reserve requirement, in the form of a balance maintained (i) In the institution's account at the Federal Reserve Bank in the Federal Reserve District in which the institution is located, or (ii) With a pass-through correspondent in accordance with Sec. 204.5(d). (2) Each individual institution subject to this part is responsible for satisfying its reserve balance requirement, if any, either directly with a Federal Reserve Bank or through a pass-through correspondent. (b)(1) For institutions that file a report of deposits weekly, the balances maintained to satisfy reserve balance requirements shall be maintained during a 14-day maintenance period that begins on the third Thursday following the end of a given computation period. (2) For institutions that file a report of deposits quarterly, the balances maintained to satisfy reserve balance requirements shall be maintained during an interval of either six or seven consecutive 14-day maintenance periods, depending on when the interval begins and ends. The interval will begin on the fourth Thursday following the end of each quarterly reporting period if that Thursday is the first day of a 14-day maintenance period. If the fourth Thursday following the end of a quarterly reporting period is not the first day of a 14-day maintenance period, then the interval will begin on the fifth Thursday following the end of the quarterly reporting period. The interval will end on the fourth Wednesday following the end of the subsequent quarterly reporting period if that Wednesday is the last day of a 14-day maintenance period. If the fourth Wednesday following the end of the subsequent quarterly reporting period is not the last day of a 14-day maintenance period, then the interval will conclude on the fifth Wednesday following the end of the subsequent quarterly reporting period. (c) Cash items forwarded to a Federal Reserve Bank for collection and credit are not included in an institution's balance maintained to satisfy its reserve balance requirement until the expiration of the time specified in the appropriate time schedule established under Regulation J, ``Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire'' (12 CFR part 210). If a depository institution draws against items before that time, the charge will be made to its account if the balance is sufficient to pay it; any resulting deficiency in balances maintained to satisfy the institution's reserve balance requirement will be subject to the penalties provided by law and to the deficiency charges provided by this part. However, the Federal Reserve Bank may, at its discretion, refuse to permit the withdrawal or other use of credit given in an account for any time for which the Federal Reserve Bank has not received payment in actually and finally collected funds. (d)(1) A depository institution, a U.S. branch or agency of a foreign bank, or an Edge or Agreement corporation with a reserve balance requirement (``respondent'') may select only one pass-through correspondent under this section, unless otherwise permitted by the Federal Reserve Bank in whose District the respondent is located. Eligible pass-through correspondents are Federal Home Loan Banks, the National Credit Union Administration Central Liquidity Facility, and depository institutions, U.S. branches or agencies of foreign banks, and Edge and Agreement corporations that maintain balances to satisfy their own reserve balance requirements which may be zero, in an account at a Federal Reserve Bank. In addition, the Board reserves the right to permit other institutions, on a case-by-case basis, to serve as pass- through correspondents. [[Page 88]] (2) Respondents or correspondents may institute, terminate, or change pass-through correspondent agreements by providing all documentation required for the establishment of the new agreement or termination of or change to the existing agreement to the Federal Reserve Banks involved within the time period specified by those Reserve Banks. (3) Balances maintained to satisfy reserve balance requirements of a correspondent's respondents shall be maintained along with the balances maintained to satisfy a correspondent's reserve balance requirement (if any), in a single commingled account of the correspondent at the Federal Reserve Bank in whose District the correspondent is located. Balances maintained in the correspondent's account are the property of the correspondent and represent a liability of the Reserve Bank solely to the correspondent, regardless of whether the funds represent the balances maintained to satisfy the reserve balance requirement of a respondent. (4)(i) A pass-through correspondent shall be responsible for maintaining balances to satisfy its own reserve balance requirement (if any) and the reserve balance requirements of all of its respondents. A charge for any deficiency in the correspondent's account will be imposed by the Reserve Bank on the correspondent maintaining the account. (ii) Each correspondent is required to maintain detailed records for each of its respondents that permit Reserve Banks to determine whether the respondent has provided a sufficient funds to the correspondent to satisfy the reserve balance requirement of the respondent. The correspondent shall maintain such records and make such reports as the Board or Reserve Bank may requires in order to ensure the correspondent's compliance with its responsibilities under this section and shall make them available to the Board or Reserve Bank as required. (iii) The Federal Reserve Bank may terminate any pass-through agreement under which the correspondent is deficient in its recordkeeping or other responsibilities. (iv) Interest paid on supplemental reserves (if such reserves are required under Sec. 204.7) held by a respondent will be credited to the account maintained by the correspondent. [Reg. D, 74 FR 25638, May 29, 2009, as amended at 77 FR 21853, Apr. 12, 2012] Sec. 204.6 Charges for deficiencies. (a) Federal Reserve Banks are authorized to assess charges for deficiencies at a rate of 1 percentage point per year above the primary credit rate, as provided in Sec. 201.51(a) of this chapter, in effect for borrowings from the Federal Reserve Bank on the first day of the calendar month in which the deficiencies occurred. Charges shall be assessed on the basis of daily average deficiencies during each maintenance period. (b) Reserve Banks may waive the charges for deficiencies based on an evaluation of the circumstances in each individual case. (c) In individual cases, where a Federal supervisory authority waives a liquidity requirement, or waives the penalty for failing to satisfy a liquidity requirement, the Reserve Bank in the District where the involved depository institution is located shall waive the reserve requirement imposed under this part for such depository institution when requested by the Federal supervisory authority involved. (d) Violations of this part may be subject to assessment of civil money penalties by the Board under authority of Section 19(1) of the Federal Reserve Act (12 U.S.C. 505) as implemented in 12 CFR part 263. In addition, the Board and any other Federal financial institution supervisory authority may enforce this part with respect to depository institutions subject to their jurisdiction under authority conferred by law to undertake cease and desist proceedings. [Reg. D, 74 FR 25639, May 29, 2009, as amended at 77 FR 21854, Apr. 12, 2012] Sec. 204.7 Supplemental reserve requirement. (a) Finding by Board. Upon the affirmative vote of at least five members of the Board and after consultation with the Board of Directors of the Federal [[Page 89]] Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the National Credit Union Administration Board, the Board may impose a supplemental reserve requirement on every depository institution of not more than 4 percent of its total transaction accounts. A supplemental reserve requirement may be imposed if: (1) The sole purpose of the requirement is to increase the amount of reserves maintained to a level essential for the conduct of monetary policy; (2) The requirement is not imposed for the purpose of reducing the cost burdens resulting from the imposition of basic reserve requirements; (3) Such requirement is not imposed for the purpose of increasing the amount of balances needed for clearing purposes; and (4) On the date on which supplemental reserve requirements are imposed, the total amount of basic reserve requirements is not less than the amount of reserves that would be required on transaction accounts and nonpersonal time deposits under the initial reserve ratios established by the Monetary Control Act of 1980 (Pub. L. 96-221) in effect on September 1, 1980. (b) Term. (1) If a supplemental reserve requirement has been imposed for a period of one year or more, the Board shall review and determine the need for continued maintenance of supplemental reserves and shall transmit annual reports to the Congress regarding the need for continuing such requirement. (2) Any supplemental reserve requirement shall terminate at the close of the first 90-day period after the requirement is imposed during which the average amount of supplemental reserves required are less than the amount of reserves which would be required if the ratios in effect on September 1, 1980, were applied. (c) Earnings Participation Account. A depository institutions's supplemental reserve requirement shall be maintained by the Federal Reserve Banks in an Earnings Participation Account. Such balances shall receive earnings to be paid by the Federal Reserve Banks during each calendar quarter at a rate not to exceed the rate earned on the securities portfolio of the Federal Reserve System during the previous calendar quarter. Additional rules and regulations maybe prescribed by the Board concerning the payment of earnings on Earnings Participation Accounts by Federal Reserve Banks. (d) Report to Congress. The Board shall transmit promptly to the Congress a report stating the basis for exercising its authority to require a supplemental reserve under this section. (e) Reserve requirements. At present, there are no supplemental reserve requirements imposed under this section. [45 FR 56018, Aug. 22, 1980, as amended at 45 FR 81537, Dec. 11, 1980. Redesignated at 74 FR 25639, May 29, 2009] Sec. 204.8 International banking facilities. (a) Definitions. For purposes of this part, the following definitions apply: (1) International banking facility or IBF means a set of asset and liability accounts segregated on the books and records of a depository institution, United States branch or agency of a foreign bank, or an Edge or Agreement Corporation that includes only international banking facility time deposits and international banking facility extensions of credit. (2) International banking facility time deposit or IBF time deposit means a deposit, placement, borrowing or similar obligation represented by a promissory note, acknowledgment of advance, or similar instrument that is not issued in negotiable or bearer form, and (i)(A) That must remain on deposit at the IBF at least overnight; and (B) That is issued to (1) Any office located outside the United States of another depository institution organized under the laws of the United States or of an Edge or Agreement Corporation; (2) Any office located outside the United States of a foreign bank; (3) A United States office or a non-United States office of the entity establishing the IBF; (4) Another IBF; or (5) A foreign national government, or an agency or instrumentality thereof, \10\ engaged principally in activities [[Page 90]] which are ordinarily performed in the United States by governmental entities; an international entity of which the United States is a member; or any other foreign international or supranational entity specifically designated by the Board;\11\ or --------------------------------------------------------------------------- \10\ Other than states, provinces, municipalities, or other regional or local governmental units or agencies or instrumentalities thereof. \11\ The designated entities are specified in 12 CFR 204.125. --------------------------------------------------------------------------- (ii) (A) That is payable (1) On a specified date not less than two business days after the date of deposit; (2) Upon expiration of a specified period of time not less than two business days after the date of deposit; or (3) Upon written notice that actually is required to be given by the depositor not less than two business days prior to the date of withdrawal; (B) That represents funds deposited to the credit of a non-United States resident or a foreign branch, office, subsidiary, affiliate, or other foreign establishment (foreign affiliate) controlled by one or more domestic corporations provided that such funds are used only to support the operations outside the United States of the depositor or of its affiliates located outside the United States; and (C) That is maintained under an agreement or arrangement under which no deposit or withdrawal of less than $100,000 is permitted, except that a withdrawal of less than $100,000 is permitted if such withdrawal closes an account. (3) International banking facility extension of credit or IBF loan means any transaction where an IBF supplies funds by making a loan, or placing funds in a deposit account. Such transactions may be represented by a promissory note, security, acknowledgment of advance, due bill, repurchase agreement, or any other form of credit transaction. Such credit may be extended only to: (i) Any office located outside the United States of another depository institution organized under the laws of the United States or of an Edge or Agreement Corporation; (ii) Any office located outside the United States of a foreign bank; (iii) A United States or a non-United States office of the institution establishing the IBF; (iv) Another IBF; (v) A foreign national government, or an agency or instrumentality thereof, \12\ engaged principally in activities which are ordinarily performed in the United States by governmental entities; an international entity of which the United States is a member; or any other foreign international or supranational entity specifically designated by the Board; \13\ or --------------------------------------------------------------------------- \12\ See footnote 10. \13\ See footnote 11. --------------------------------------------------------------------------- (vi) A non-United States resident or a foreign branch, office, subsidiary, affiliate or other foreign establishment (foreign affiliate) controlled by one or more domestic corporations provided that the funds are used only to finance the operations outside the United States of the borrower or of its affiliates located outside the United States. (b) Acknowledgment of use of IBF deposits and extensions of credit. An IBF shall provide written notice to each of its customers (other than those specified in Sec. 204.8(a)(2)(i)(B) and Sec. 204.8(a)(3) (i) through (v)) at the time a deposit relationship or a credit relationship is first established that it is the policy of the Board of Governors of the Federal Reserve System that deposits received by international banking facilities may be used only to support the depositor's operations outside the United States as specified in Sec. 204.8(a)(2)(ii)(B) and that extensions of credit by IBFs may be used only to finance operations outside of the United States as specified in Sec. 204.8(a)(3)(vi). In the case of loans to or deposits from foreign affiliates of U.S. residents, receipt of such notice must be acknowledged in writing whenever a deposit or credit relationship is first established with the IBF. (c) Exemption from reserve requirements. An institution that is subject to the reserve requirements of this part is not required to maintain reserves against its IBF time deposits or IBF loans. Deposit- taking activities of IBFs are limited to accepting only IBF time deposits and lending activities of IBFs [[Page 91]] are restricted to making only IBF loans. (d) Establishment of an international banking facility. A depository institution, an Edge or Agreement Corporation or a United States branch or agency of a foreign bank may establish an IBF in any location where it is legally authorized to engage in IBF business. However, only one IBF may be established for each reporting entity that is required to submit a Report of Transaction Accounts, Other Deposits and Vault Cash (Form FR 2900). (e) Notification to Federal Reserve. At least fourteen days prior to the first reserve computation period that an institution intends to establish an IBF it shall notify the Federal Reserve Bank of the district in which it is located of its intent. Such notification shall include a statement of intention by the institution that it will comply with the rules of this part concerning IBFs, including restrictions on sources and uses of funds, and recordkeeping and accounting requirements. Failure to comply with the requirements of this part shall subject the institution to reserve requirements under this part or result in the revocation of the institution's ability to operate an IBF. (f) Recordkeeping requirements. A depository institution shall segregate on its books and records the asset and liability accounts of its IBF and submit reports concerning the operations of its IBF as required by the Board. [46 FR 32429, June 23, 1981, as amended at 51 FR 9636, Mar. 20, 1986; 56 FR 15495, Apr. 17, 1991; 61 FR 69025, Dec. 31, 1996] Sec. 204.9 Emergency reserve requirement. (a) Finding by Board. The Board may impose, after consulting with the appropriate committees of Congress, additional reserve requirements on depository institutions at any ratio on any liability upon a finding by at least five members of the Board that extraordinary circumstances require such action. (b) Term. Any action taken under this section shall be valid for a period not exceeding 180 days, and may be extended for further periods of up to 180 days each by affirmative action of at least five members of the Board for each extension. (c) Reports to Congress. The Board shall transmit promptly to Congress a report of any exercise of its authority under this paragraph and the reasons for the exercise of authority. (d) Reserve requirements. At present, there are no emergency reserve requirements imposed under this section. [45 FR 56018, Aug. 22, 1980. Redesignated at 74 FR 25638, May 29, 2009] Sec. 204.10 Payment of interest on balances. (a) General. (1) Except as provided in paragraph (c) of this section, interest on balances maintained at Federal Reserve Banks by or on behalf of an eligible institution shall be established by the Board in accordance with this section, at a rate or rates not to exceed the general level of short-term interest rates. (2) For purposes of this section, the amount of a ``balance'' in an account maintained by or on behalf of an eligible institution at a Federal Reserve Bank is determined at the close of the Federal Reserve Bank's business day. (3) For purposes of this section, ``short-term interest rates'' are rates on obligations with maturities of no more than one year, such as the primary credit rate and rates on term federal funds, term repurchase agreements, commercial paper, term Eurodollar deposits, and other similar instruments. (4) The payment of interest on balances under this section shall be subject to such other terms and conditions as the Board may prescribe. (b) Payment of interest. Interest on balances maintained at Federal Reserve Banks by or on behalf of an eligible institution is established as set forth in paragraphs (b)(1) and (2) of this section. (1) For balances maintained in an eligible institution's master account, interest is the amount equal to the interest on reserve balances rate (``IORB rate'') on a day multiplied by the total balances maintained on that day. The IORB rate is 5.4 percent. (2) For term deposits, interest is: (i) The amount equal to the principal amount of the term deposit multiplied [[Page 92]] by a rate specified in advance by the Board, in light of existing short- term market rates, to maintain the federal funds rate at a level consistent with monetary policy objectives; or (ii) The amount equal to the principal amount of the term deposit multiplied by a rate determined by the auction through which such term deposits are offered. (3) For purposes of Sec. 204.10(b), a ``master account'' is the record maintained by a Federal Reserve Bank of the debtor-creditor relationship between the Federal Reserve Bank and a single eligible institution with respect to deposit balances of the eligible institution that are maintained with the Federal Reserve Bank. A ``master account'' is not a ``term deposit,'' an ``excess balance account,'' a ``joint account,'' or any deposit account maintained with a Federal Reserve Bank governed by an agreement that states the account is not a master account. (c) Pass-through balances. A pass-through correspondent that is an eligible institution may pass back to its respondent interest paid on balances maintained to satisfy a reserve balance requirement of that respondent. In the case of balances maintained by a pass-through correspondent that is not an eligible institution, a Reserve Bank may pay interest only on the balances maintained to satisfy a reserve balance requirement of one or more respondents up to the top of the penalty-free band, and the correspondent shall pass back to its respondents interest paid on balances in the correspondent's account. (d) Excess balance accounts. (1) A Reserve Bank may establish an excess balance account for eligible institutions under the provisions of this paragraph (d). Notwithstanding any other provisions of this part, the balances maintained by eligible institutions in an excess balance account represent a liability of the Reserve Bank solely to those participating eligible institutions. (2) The participating eligible institutions in an excess balance account shall authorize another institution to act as agent of the participating institutions for purposes of general account management, including but not limited to transferring the balances of participating institutions in and out of the excess balance account. An excess balance account must be established at the Reserve Bank where the agent maintains its master account, unless otherwise determined by the Board. The agent may not commingle its own funds in the excess balance account. (3) Balances maintained in an excess balance account may not be used for general payments or other activities. (4) Interest on balances of eligible institutions maintained in an excess balance account is the amount equal to the IORB rate in effect on a day multiplied by the total balances maintained on that day. (5) A Reserve Bank may establish additional terms and conditions consistent with this part with respect to the operation of an excess balance account, including, but not limited to, terms of and fees for services, conditions under which an institution may act as agent for an account, restrictions on the agent with respect to account management, penalties for noncompliance with this section or any terms and conditions, and account termination. (e) Term deposits. (1) A Federal Reserve Bank may accept term deposits from eligible institutions under the provisions of this paragraph (e) subject to such terms and conditions as the Board may establish from time to time, including but not limited to conditions regarding the maturity of the term deposits being offered, maximum and minimum amounts that may be maintained by an eligible institution in a term deposit, the interest rate or rates offered, early withdrawal of term deposits, pledging term deposits as collateral and, if term deposits are offered through an auction mechanism, the size of the offering, maximum and minimum bid amounts, and other relevant terms. (2) A term deposit will not satisfy any institution's reserve balance requirement. (3) A term deposit may not be used for general payments or settlement activities. (f) Procedure for determination of rates. The Board anticipates that notice and public participation with respect to [[Page 93]] changes in the rate or rates of interest to be paid under this section will generally be impracticable, unnecessary, contrary to the public interest, or otherwise not required in the public interest, and that there will generally be reason and good cause in the public interest why the effective date should not be deferred for 30 days. The reason or reasons in such cases are generally expected to include that such notice, public participation, or deferment of effective date would prevent the action from becoming effective as promptly as necessary in the public interest, would permit speculators or others to reap unfair profits or to interfere with the Board's actions taken with a view to accommodating commerce and business and with regard to their bearing upon the general credit situation of the country, would provoke other consequences contrary to the public interest, would not aid the persons affected, or would otherwise serve no useful purpose. [Reg. D, 74 FR 25629, May 29, 2009] Editorial Note: For Federal Register citations affecting Sec. 204.10, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Interpretations Sec. 204.121 Bankers' banks. (a)(1) The Federal Reserve Act, as amended by the Monetary Control Act of 1980 (title I of Pub. L. 96-221), imposes Federal reserve requirements on depository institutions that maintain transaction accounts or nonpersonal time deposits. Under section 19(b)(9), however, a depository institution is not required to maintain reserves if it: (i) Is organized solely to do business with other financial institutions; (ii) Is owned primarily by the financial institutions with which it does business; and (iii) Does not do business with the general public. Depository institutions that satisfy all of these requirements are regarded as bankers' banks. (2) In its application of these requirements to specific institutions, the Board will use the following standards: (i) A depository institution may be regarded as organized solely to do business with other depository institutions even if, as an incidental part to its activities, it does business to a limited extent with entities other than depository institutions. The extent to which the institution may do business with other entities and continue to be regarded as a bankers' bank is specified in paragraph (a)(2)(iii) of this section. (ii) A depository institution will be regarded as being owned primarily by the institutions with which it does business if 75 per cent or more of its capital is owned by other depository institutions. The 75 per cent or more ownership rule applies regardless of the type of depository institution. (iii) A depository institution will not be regarded as doing business with the general public if it meets two conditions. First, the range of customers with which the institution does business must be limited to depository institutions, including subsidiaries or organizations owned by depository institutions; directors, officers or employees of the same or other depository institutions; individuals whose accounts are acquired at the request of the institution's supervisory authority due to the actual or impending failure of another depository institution; share insurance funds; depository institution trade associations; and such others as the Board may determine on a case-by-case basis consistent with the purposes of the Act and the bankers' bank exemption. Second, the extent to which the depository institution makes loans to, or investments in, the above entities (other than depository institutions) cannot exceed 10 per cent of total assets, and the extent to which it receives deposits (or shares if the institution does not receive deposits) from or issues other liabilities to the above entities (other than depository institutions) cannot exceed 10 per cent of total liabilities (or net worth if the institution does not receive deposits). If a depository institution is unable to meet all of these requirements on a continuing basis, it will not be regarded as a bankers' bank and will be required to satisfy Federal reserve requirements on all of its transaction accounts and nonpersonal time deposits. [[Page 94]] (b) (1) Section 19(c)(1) of the Federal Reserve Act, as amended by the Monetary Control Act of 1980 (title I of Pub. L. 96-221) provides that Federal reserve requirements may be satisfied by the maintenance of vault cash or balances in a Federal Reserve Bank. Depository institutions that are not members of the Federal Reserve System may also satisfy reserve requirements by maintaining a balance in another depository institution that maintains required reserve balances at a Federal Reserve Bank, in a Federal Home Loan Bank, or in the National Credit Union Administration Central Liquidity Facility if the balances maintained by such institutions are subsequently passed through to the Federal Reserve Bank. (2) On August 27, 1980, the Board announced the procedures that will apply to such pass-through arrangements (45 FR 58099). Section 204.3(i)(1) provides that the Board may permit, on a case-by-case basis, depository institutions that are not themselves required to maintain reserves (bankers' banks) to act as pass-through correspondents if certain criteria are satisfied. The Board has determined that a bankers' bank may act as a pass-through correspondent if it enters into an agreement with the Federal Reserve to accept responsibility for the maintenance of pass-through reserve accounts in accordance with Regulation D (12 CFR 204.3(i)) and if the Federal Reserve is satisfied that the quality of management and financial resources of the institution are adequate in order to enable the institution to serve as a pass-through correspondent in accordance with Regulation D. Satisfaction of these criteria will assure that pass-through arrangements are maintained properly without additional financial risk to the Federal Reserve. (3) In order to determine uniformly the adequacy of managerial and financial resources, the Board will consult with the Federal supervisor for the type of institution under consideration. Because the Board does not possess direct experience with supervising depository institutions other than commercial banks, and does not intend to involve itself in the direct supervision of such institutions, it will request the National Credit Union Administration to review requests from credit unions that qualify as bankers' banks and the Federal Home Loan Bank Board to review requests from savings and loan associations that qualify as bankers' banks, regardless of charter or insurance status. (The Board, itself, will consider requests from all commercial banks that qualify as bankers' banks.) If the Federal supervisor does not find the institution's managerial or financial resources to be adequate, the Board will not permit the institution to act as a pass-through correspondent. In order to assure the continued adequacy of managerial and financial resources, it is anticipated that the appropriate Federal supervisor will, on a periodic basis, review and evaluate the managerial and financial resources of the institution in order to determine whether it should continue to be permitted to act as a pass-through correspondent. It is anticipated that, with respect to state chartered institutions, the Federal supervisor may discuss the request with the institute State supervisor. The Board believes that this procedure will promote uniformity of treatment for all types of bankers' banks, and provide consistent advice concerning managerial ability and financial strength from supervisory authorities that are in a better position to evaluate these criteria for depository institutions that are not commercial banks. (4) Requests for a determination as to whether a depository institution will be regarded as a bankers' bank for purposes of the Federal Reserve Act or for permission to act as a pass-through correspondent may be addressed to the Federal Reserve Bank in whose District the main office of the depository institution is located or to the Secretary, Board of Governors of the Federal Reserve System, Washington, DC 20551. The Board will act promptly on all requests received directly or through Federal Reserve Banks. [45 FR 69879, Oct. 22, 1980, as amended by Reg. D, 72 FR 16990, Apr. 6, 2007] [[Page 95]] Sec. 204.122 Secondary market activities of international banking facilities. (a) Questions have been raised concerning the extent to which international banking facilities may purchase (or sell) IBF-eligible assets such as loans (including loan participations), securities, CDs, and bankers' acceptances from (or to) third parties. Under the Board's regulations, as specified in Sec. 204.8 of Regulation D, IBFs are limited, with respect to making loans and accepting deposits, to dealing only with certain customers, such as other IBFs and foreign offices of other organizations, and with the entity establishing the IBF. In addition, an IBF may extend credit to a nonbank customer only to finance the borrower's non-U.S. operations and may accept deposits from a nonbank customer that are used only to support the depositor's non-U.S. business. (b) Consistent with the Board's intent, IBFs may purchase IBF- eligible assets \1\ from, or sell such assets to, any domestic or foreign customer provided that the transactions are at arm's length without recourse. However, an IBF of a U.S. depository institution may not purchase assets from, or sell such assets to, any U.S. affiliate of the institution establishing the IBF; an IBF of an Edge or Agreement corporation may not purchase assets from, or sell assets to, any U.S. affiliate of the Edge or Agreement corporation or to U.S. branches of the Edge or Agreement corporation or to U.S. branches of the Edge or Agreement corporation other than the branch \2\ establishing the IBF; and an IBF of a U.S. branch or agency of a foreign bank may not purchase assets from, or sell assets to any U.S. affiliates of the foreign bank or to any other U.S. branch or agency of the same foreign bank. \2\ (This would not prevent an IBF from purchasing (or selling) assets directly from (or to) any IBF, including an IBF of an affiliate, or to the institution establishing the IBF; such purchases from the institution establishing the IBF would continue to be subject to Eurocurrency reserve requirements except during the initial four-week transition period.) Since repurchase agreements are regarded as loans, transactions involving repurchase agreements are permitted only with customers who are otherwise eligible to deal with IBFs, as specified in Regulation D. --------------------------------------------------------------------------- \1\ In order for an asset to be eligible to be held by an IBF, the obligor or issuer of the instrument, or in the case of bankers' acceptances, the customer and any endorser or acceptor, must be an IBF- eligible customer. \2\ Branches of Edge or Agreement corporations and agencies and branches of foreign banks that file a consolidated report for reserve requirements purposes (FR 2900) are considered to be the establishing entity of an IBF. --------------------------------------------------------------------------- (c) In the case of purchases of assets, in order to determine that the Board's use-of-proceeds requirement has been met, it is necessary for the IBF (1) to ascertain that the applicable IBF notices and acknowledgments have been provided, or (2) in the case of loans or securities, to review the documentation underlying the loan or security, or accompanying the security (e.g., the prospectus or offering statement), to determine that the proceeds are being used only to finance the obligor's operations outside the U.S., or (3) in the case of loans, to obtain a statement from either the seller or borrower that the proceeds are being used only to finance operations outside the U.S., or in the case of securities, to obtain such a statement from the obligor, or (4) in the case of bankers' acceptances, to review the underlying documentation to determine that the proceeds are being used only to finance the parties' operations outside the United States. (d) Under the Board's regulations, IBFs are not permitted to issue negotiable Euro-CDs, bankers' acceptances, or similar instruments. Accordingly, consistent with the Board's intent in this area, IBFs may sell such instruments issued by third parties that qualify as IBF- eligible assets provided that the IBF, its establishing institution and any affiliate of the institution establishing the IBF do not endorse, accept, or otherwise guarantee the instrument. [46 FR 62812, Dec. 29, 1981, as amended at 52 FR 47694, Dec. 16, 1987] [[Page 96]] Sec. 204.123 Sale of Federal funds by investment companies or trusts in which the entire beneficial interest is held exclusively by depository institutions. (a) The Federal Reserve Act, as amended by the Monetary Control Act of 1980 (Title I of Pub. L. 96-221) imposes Federal Reserve requirements on transaction accounts and nonpersonnel time deposits held by depository institutions. The Board is empowered under the Act to determine what types of obligations shall be deemed a deposit. Regulation D--Reserve Requirements of Depository Institutions exempts from the definition of deposit those obligations of a depository institution that are issued or undertaken and held for the account of a domestic office of another depository institution (12 CFR 204.2(a)(1)(vii)(A)(1)). These exemptions from the definition of deposit are known collectively as the Federal funds or interbank exemption. (b) Title IV of the Depository Institutions Deregulation and Monetary Control Act of 1980 authorizes Federal savings and loan associations to invest in open-ended management investment companies provided the funds' investment portfolios are limited to the types of investments that a Federal savings and loan association could hold without limit as to percentage of assets (12 U.S.C. 1464(c)(1)(Q)). Such investments include mortgages, U.S. Government and agency securities, securities of states and political subdivisions, sales of Federal funds and deposits held at banks insured by the Federal Deposit Insurance Corporation. The Federal Credit Union Act authorizes Federal credit unions to aggregate their funds in trusts provided the trust is limited to such investments that Federal credit unions could otherwise make. Such investments include loans to credit union members, obligations of the U.S. government or secured by the U.S. government, loans to other credit unions, shares or accounts held at savings and loan associations or mutual savings banks insured by FSLIC or FDIC, sales of Federal funds and shares of any central credit union whose investments are specifically authorized by the board of directors of the Federal credit union making the investment (12 U.S.C. 1757(7)). (c) The Board has considered whether an investment company or trust whose entire beneficial interest is held by depository institutions, as defined in Regulation D, would be eligible for the Federal funds exemption from Reserve requirements and interest rate limitations. The Board has determined that such investment companies or trusts are eligible to participate in the Federal funds market because, in effect, they act as mere conduits for the holders of their beneficial interest. To be regarded by the Board as acting as a conduit and, thus, be eligible for participation in the Federal funds market, an investment company or trust must meet each of the following conditions: (1) The entire beneficial interest in the investment company or trust must be held by depository institutions, as defined in Regulation D. These institutions presently may participate directly in the Federal funds market. If the entire beneficial interest in the investment company or trust is held only by depository institutions, the Board will regard the investment company or trust as a mere conduit for the holders of its beneficial interest. (2) The assets of the investment company or trust must be limited to investments that all of the holders of the beneficial interest could make directly without limit. (3) Holders of the beneficial interest in the investment company or trust must not be allowed to make third party payments from their accounts with the investment company or trust. The Board does not regard an investment company or trust that offers third party payment capabilities or other similar services which actively transform the nature of the funds passing between the holders of the beneficial interest and the Federal funds market as mere conduits. The Board expects that the above conditions will be included in materials filed by an investment company or trust with the appropriate regulatory agencies. (d) The Board believes that permitting sales of Federal funds by investment companies or trusts whose beneficial interests are held exclusively by [[Page 97]] depository institutions, that invest solely in assets that the holders of their beneficial interests can otherwise invest in without limit, and do not provide third party payment capabilities offer the potential for an increased yield for thrifts. This is consistent with Congressional intent to provide thrifts with convenient liquidity vehicles. [47 FR 8987, Mar. 3, 1982, as amended at 52 FR 47695, Dec. 16, 1987] Sec. 204.124 Repurchase agreement involving shares of a money market mutual fund whose portfolio consists wholly of United States Treasury and Federal agency securities. (a) The Federal Reserve Act, as amended by the Monetary Control Act of 1980 (title I of Pub. L. 96-221) imposes Federal reserve requirements on transaction accounts and nonpersonal time deposits held by depository institutions. The Board is empowered under the Act to determine what types of obligations shall be deemed a deposit (12 U.S.C. 461). Regulation D--Reserve Requirements of Depository Institutions exempts from the definition of deposit those obligations of a depository institution that arise from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States government or any agency thereof that the depository institution is obligated to repurchase (12 CFR 204.2(a)(1)(vii)(B)). (b) The National Bank Act provides that a national bank may purchase for its own account investment securities under limitations and restrictions as the Comptroller may prescribe (12 U.S.C. 24, ] 7). The statute defines investment securities to mean marketable obligations evidencing indebtedness of any person in the form of bonds, notes, and debentures. The Act further limits a national bank's holdings of any one security to no more than an amount equal to 10 percent of the bank's capital stock and surplus. However, these limitations do not apply to obligations issued by the United States, general obligations of any state and certain obligations of Federal agencies. In addition, generally a national bank is not permitted to purchase for its own account stock of any corporation. These restrictions also apply to state member banks (12 U.S.C. 335). (c) The Comptroller of the Currency has permitted national banks to purchase for their own accounts shares of open-end investment companies that are purchased and sold at par (i.e., money market mutual funds) provided the portfolios of such companies consist solely of securities that a national bank may purchase directly (Banking Bulletin B-83-58). The Board of Governors has permitted state member banks to purchase, to the extent permitted under applicable state law, shares of money market mutual funds (MMMF) whose portfolios consist solely of securities that the state member bank may purchase directly (12 CFR 208.123). (d) The Board has determined that an obligation arising from a repurchase agreement involving shares of a MMMF whose portfolio consists wholly of securities of the United States government or any agency thereof \1\ would not be a deposit for purposes of Regulations D and Q. The Board believes that a repurchase agreement involving shares of such a MMMF is the functional equivalent of a repurchase agreement directly involving United States government or agency obligations. A purchaser of shares of a MMMF obtains an interest in a pro rata portion of the assets that comprise the MMMF's portfolio. Accordingly, regardless of whether the repurchase agreement involves United States government or agency obligations directly or shares in a MMMF whose portfolio consists entirely of United States government or agency obligations, an equitable and undivided interest in United States and agency government obligations is being transferred. Moreover, the Board believes that this interpretation will further the purpose of the exemption in Regulations D and Q for repurchase agreements involving United States government or Federal [[Page 98]] obligations by enhancing the market for such obligations. --------------------------------------------------------------------------- \1\ The term United States government or any agency thereof as used herein shall have the same meaning as in Sec. 204.2(a)(1)(vii)(B) of Regulation D, 12 CFR 204.2(a)(1)(vii)(B). [50 FR 13011, Apr. 2, 1985, as amended at 52 FR 47695, Dec. 16, 1987] Sec. 204.125 Foreign, international, and supranational entities referred to in Sec. Sec. 204.2(c)(1)(iii)(E) and (f)(1)(iv)(E) and 204.8(a)(2)(i)(B)(5). The entities referred to in Sec. Sec. 204.2(c)(1)(iii)(E) and (f)(1)(iv)(E) and 204.8(a)(2)(i)(B)(5) are: Europe Bank for International Settlements. European Atomic Energy Community. European Central Bank. European Coal and Steel Community. The European Communities. European Development Fund. European Economic Community. European Free Trade Association. European Fund. European Investment Bank. Latin America Andean Development Corporation. Andean Subregional Group. Caribbean Development Bank. Caribbean Free Trade Association Caribbean Regional Development Agency. Central American Bank for Economic Integration. The Central American Institute for Industrial Research and Technology. Central American Monetary Stabilization Fund. East Caribbean Common Market. Latin American Free Trade Association. Organization for Central American States. Permanent Secretariat of the Central American General Treaty of Economic Integration. River Plate Basin Commission. Africa African Development Bank. Banque Centrale des Etats de l'Afrique Equatorial et du Cameroun. Banque Centrale des Etats d'Afrique del'Ouest. Conseil de l'Entente. East African Community. Organisation Commune Africaine et Malagache. Organization of African Unity. Union des Etats de l'Afrique Centrale. Union Douaniere et Economique de l'Afrique Centrale. Union Douaniere des Etats de l'Afrique de l'Ouest. Asia Asia and Pacific Council. Association of Southeast Asian Nations. Bank of Taiwan. Korea Exchange Bank. Middle East Central Treaty Organization. Regional Cooperation for Development. [Reg. D, 52 FR 47695, Dec. 16, 1987, as amended at 56 FR 15495, Apr. 17, 1991; 65 FR 12917, Mar. 10, 2000; 88 FR 45058, July 14, 2023] Sec. 204.126 Depository institution participation in ``Federal funds'' market. (a) Under Sec. 204.2(a)(1)(vii)(A), there is an exemption from Regulation D for member bank obligations in nondeposit form to another bank. To assure the effectiveness of the limitations on persons who sell Federal funds to depository institutions, Regulation D applies to nondocumentary obligations undertaken by a depository institution to obtain funds for use in its banking business, as well as to documentary obligations. Under Sec. 204.2(a)(1)(vii) of Regulation D, a depository institution's liability under informal arrangements as well as those formally embodied in a document are within the coverage of Regulation D. (b) The exemption in Sec. 204.2(a)(1)(vii)(A) applies to obligations owed by a depository institution to a domestic office of any entity listed in that section (the exempt institutions). The exempt institutions explicitly include another depository institution, foreign bank, Edge or agreement corporation, New York Investment (article XII) Company, the Export-Import Bank of the United States, Minbanc Capital Corp., and certain other credit sources. The term exempt institutions also includes subsidiaries of depository institutions: (1) That engage in businesses in which their parents are authorized to engage; or (2) The stock of which by statute is explicitly eligible for purchase by national banks. (c) To assure that this exemption for liabilities to exempt institutions is not used as a means by which nondepository institutions may arrange through an exempt institution to sell Federal funds to a depository institution, obligations within the exemption must be issued to an exempt institution for its [[Page 99]] own account. In view of this requirement, a depository institution that purchases Federal funds should ascertain the character (not necessarily the identity) of the actual seller in order to justify classification of its liability on the transaction as Federal funds purchased rather than as a deposit. Any exempt institution that has given general assurance to the purchasing depository institution that sales by it of Federal funds ordinarily will be for its own account and thereafter executes such transactions for the account of others, should disclose the nature of the actual lender with respect to each such transaction. If it fails to do so, the depository institution would be deemed by the Board as indirectly violating section 19 of the Federal Reserve Act and Regulation D. [52 FR 47695, Dec. 16, 1987] Sec. 204.127 Nondepository participation in ``Federal funds'' market. (a) The Board has considered whether the use of interdepository institution loan participations (IDLPs) which involve participation by third parties other than depository institutions in Federal funds transactions, comes within the exemption from deposit classification for certain obligations owed by a depository institution to an institution exempt in Sec. 204.2(a)(1)(vii)(A) of Regulation D. An IDLP transaction is one through which an institution that has sold Federal funds to a depository institution, subsequently sells or participates out that obligation to a nondepository third party without notifying the obligated institution. (b) The Board's interpretation regarding Federal funds transactions (12 CFR 204.126) clarified that a depository institutions's liability must be issued to an exempt institution described in Sec. 204.2(a)(1)(vii)(A) of Regulation D for its own account in order to come within the nondeposit exemption for interdepository liabilities. The Board regards transactions which result in third parties gaining access to the Federal funds market as contrary to the exemption contained in Sec. 204.2(a)(1)(vii)(A) of Regulation D regardless of whether the nondepository institution third party is a party to the initial transaction or thereafter becomes a participant in the transaction through purchase of all or part of the obligation held by the selling depository institution. (c) The Board regards the notice requirements set out in 12 CFR 204.126 as applicable to IDLP-type transactions as described herein so that a depository institution selling Federal funds must provide to the purchaser-- (1) Notice of its intention, at the time of the initial transaction, to sell or participate out its loan contract to a nondepository third party, and (2) Full and prompt notice whenever it (the selling depository institution) subsequently sells or participates out its loan contract to a non-depository third party. [52 FR 47695, Dec. 16, 1987] Sec. 204.128 Deposits at foreign branches guaranteed by domestic office of a depository institution. (a) In accepting deposits at branches abroad, some depository institutions may enter into agreements from time to time with depositors that in effect guarantee payment of such deposits in the United States if the foreign branch is precluded from making payment. The question has arisen whether such deposits are subject to Regulation D, and this interpretation is intended as clarification. (b) Section 19 of the Federal Reserve Act which establishes reserve requirements does not apply to deposits of a depository institution ``payable only at an office thereof located outside of the States of the United States and the District of Columbia'' (12 U.S.C. 371a; 12 CFR 204.1(c)(5)). The Board rule in 1918 that the requirements of section 19 as to reserves to be carried by member banks do not apply to foreign branches (1918 Fed. Res. Bull. 1123). The Board has also defined the phrase Any deposit that is payable only at an office located outside the United States, in Sec. 204.2(t) of Regulation D, 12 CFR 204.2(t). (c) The Board believes that this exemption from reserve requirements should be limited to deposits in foreign branches as to which the depositor is entitled, under his agreement with the depository institution, to demand payment only outside the United States, regardless of special circumstances. [[Page 100]] The exemption is intended principally to enable foreign branches of U.S. depository institutions to compete on a more nearly equal basis with banks in foreign countries in accordance with the laws and regulations of those countries. A customer who makes a deposit that is payable solely at a foreign branch of the depository institution assumes whatever risk may exist that the foreign country in which a branch is located might impose restrictions on withdrawals. When payment of a deposit in a foreign branch is guaranteed by a promise of payment at an office in the United States if not paid at the foreign office, the depositor no longer assumes this risk but enjoys substantially the same rights as if the deposit had been made in a U.S. office of the depository institution. To assure the effectiveness of Regulation D and to prevent evasions thereof, the Board considers that such guaranteed foreign-branch deposits must be subject to that regulation. (d) Accordingly, a deposit in a foreign branch of a depository institution that is guaranteed by a domestic office is subject to the reserve requirements of Regulation D the same as if the deposit had been made in the domestic office. This interpretation is not designed in any respect to prevent the head office of a U.S. bank from repaying borrowings from, making advances to, or supplying capital funds to its foreign branches, subject to Eurocurrency liability reserve requirements. [52 FR 47696, Dec. 16, 1987] Sec. 204.130 Eligibility for NOW accounts. (a) Summary. In response to many requests for rulings, the Board has determined to clarify the types of entities that may maintain NOW accounts at member banks. (b) Individuals. (1) Any individual may maintain a NOW account regardless of the purposes that the funds will serve. Thus, deposits of an individual used in his or her business including a sole proprietor or an individual doing business under a trade name is eligible to maintain a NOW account in the individual's name or in the ``DBA'' name. However, other entities organized or operated to make a profit such as corporations, partnerships, associations, business trusts, or other organizations may not maintain NOW accounts. (2) Pension funds, escrow accounts, security deposits, and other funds held under various agency agreements may also be classified as NOW accounts if the entire beneficial interest is held by individuals or other entities eligible to maintain NOW accounts directly. The Board believes that these accounts are similar in nature to trust accounts and should be accorded identical treatment. Therefore, such funds may be regarded as eligible for classification as NOW accounts. (c) Nonprofit organizations. (1) A nonprofit organization that is operated primarily for religious, philanthropic, charitable, educational, political or other similar purposes may maintain a NOW account. The Board regards the following kinds of organizations as eligible for NOW accounts under this standard if they are not operated for profit: (i) Organizations described in section 501(c)(3) through (13), and (19) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(3) through (13) and (19)); (ii) Political organizations described in section 527 of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 527); and (iii) Homeowners and condominium owners associations described in section 528 of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 528), including housing cooperative associations that perform similar functions. (2) All organizations that are operated for profit are not eligible to maintain NOW accounts at depository institutions. (3) The following types of organizations described in the cited provisions of the Internal Revenue Code are among those not eligible to maintain NOW accounts: (i) Credit unions and other mutual depository institutions described in section 501(c)(14) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(14)); (ii) Mutual insurance companies described in section 501(c)(15) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(15)); [[Page 101]] (iii) Crop financing organizations described in section 501(c)(16) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(16)); (iv) Organizations created to function as part of a qualified group legal services plan described in section 501(c)(20) of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 501(c)(20)); or (v) Farmers' cooperatives described in section 521 of the Internal Revenue Code (26 U.S.C. (I.R.C. 1954) section 521). (d) Governmental units. Governmental units are generally eligible to maintain NOW accounts at member banks. NOW accounts may consist of funds in which the entire beneficial interest is held by the United States, any State of the United States, county, municipality, or political subdivision thereof, the District of Columbia, the Commonwealth of Puerto Rico, American Samoa, Guam, any territory or possession of the United States, or any political subdivision thereof. (e) Funds held by a fiduciary. Under current provisions, funds held in a fiduciary capacity (either by an individual fiduciary or by a corporate fiduciary such as a bank trust department or a trustee in bankruptcy), including those awaiting distribution or investment, may be held in the form of NOW accounts if all of the beneficiaries are otherwise eligible to maintain NOW accounts. The Board believes that such a classification should continue since fiduciaries are required to invest even temporarily idle balances to the greatest extent feasible in order to responsibly carry out their fiduciary duties. The availability of NOW accounts provides a convenient vehicle for providing a short-term return on temporarily idle trust funds of beneficiaries eligible to maintain accounts in their own names. (f) Grandfather provision. In order to avoid unduly disrupting account relationships, a NOW account established at a member bank on or before August 31, 1981, that represents funds of a nonqualifying entity that previously qualified to maintain a NOW account may continue to be maintained in a NOW account. [52 FR 47697, Dec. 16, 1987] Sec. 204.131 Participation by a depository institution in the secondary market for its own time deposits. (a) Background. In 1982, the Board issued an interpretation concerning the effect of a member bank's purchase of its own time deposits in the secondary market in order to ensure compliance with regulatory restrictions on the payment of interest on time deposits, with the prohibition against payment of interest on demand deposits, and with regulatory requirements designed to distinguish between time deposits and demand deposits for federal reserve requirement purposes (47 FR 37878, Aug. 27, 1982). The interpretation was designed to ensure that the regulatory early withdrawal penalties in Regulation Q used to achieve these three purposes were not evaded through the purchase by a member bank or its affiliate of a time deposit of the member bank prior to the maturity of the deposit. (b) Because the expiration of the Depository Institutions Deregulation Act (title II of Pub. L. 96-221) on April 1, 1986, removed the authority to set interest rate ceilings on deposits, one of the purposes for adopting the interpretation was eliminated. The removal of the authority to set interest rate ceilings on deposits required the Board to revise the early withdrawal penalties which were also used to distinguish between types of deposits for reserve requirement purposes. Effective April 1, 1986, the Board amended its Regulation D to incorporate early withdrawal penalties applicable to all depository institutions for this purpose (51 FR 9629, Mar. 20, 1986). Although the new early withdrawal penalties differ from the penalties used to enforce interest rate ceilings, secondary market purchases still effectively shorten the maturities of deposits and may be used to evade reserve requirements. This interpretation replaces the prior interpretation and states the application of the new early withdrawal penalties to purchases by depository institutions and their affiliates of the depository institution's time deposits. The interpretation applies only to situations in which the Board's regulatory penalties apply. (c) Secondary market purchases under the rule. The Board has determined [[Page 102]] that a depository institution purchasing a time deposit it has issued should be regarded as having paid the time deposit prior to maturity. The effect of the transaction is that the depository institution has cancelled a liability as opposed to having acquired an asset for its portfolio. Thus, the depository institution is required to impose any early withdrawal penalty required by Regulation D on the party from whom it purchases the instrument by deducting the amount of the penalty from the purchase price. The Board recognizes, however, that secondary market sales of time deposits are often done without regard to the identity of the original owner of the deposit. Such sales typically involve a pool of time deposits with the price based on the aggregate face value and average rate of return on the deposits. A depository institution purchasing time deposits from persons other than the person to whom the deposit was originally issued should be aware of the parties named on each of the deposits it is purchasing but through failure to inspect the deposits prior to the purchase may not be aware at the time it purchases a pool of time deposits that it originally issued one or more of the deposits in the pool. In such cases, if a purchasing depository institution does not wish to assess an applicable early withdrawal penalty, the deposit may be sold immediately in the secondary market as an alternative to imposing the early withdrawal penalty. (d) Purchases by affiliates. On a consolidated basis, if an affiliate (as defined in Sec. 204.2(q) of Regulation D) of a depository institution purchases a CD issued by the depository institution, the purchase does not reduce their consolidated liabilities and could be accomplished primarily to assist the depository institution in avoiding the requirements of the Board's Regulation D. Because the effect of the early withdrawal penalty rule could be easily circumvented by purchases of time deposits by affiliates, such purchases are also regarded as an early withdrawals of the time deposit, and the purchase should be treated as if the depository institution made the purchase directly. Thus, the regulatory requirements for early withdrawal penalties apply to affiliates of a depository institution as well as to the institution itself. (e) Depository institution acting as broker. The Board believes that it is permissible for a depository institution to facilitate the secondary market for its own time deposits by finding a purchaser for a time deposit that a customer is trying to sell. In such instances, the depository institution will not be paying out any of its own funds, and the depositor does not have a guarantee that the depository institution will actually be able to find a buyer. (f) Third-party market-makers. A depository institution may also establish and advertise arrangements whereby an unaffiliated third party agrees in advance to purchase time deposits issued by the institution. The Board would not regard these transactions as inconsistent with the purposes that the early withdrawal penalty is intended to serve unless a depository institution pays a fee to the third party purchaser as compensation for making the purchases or to remove the risk from purchasing the deposits. In this regard, any interim financing provided to such a third party by a depository institution in connection with the institution's secondary market activity involving the institution's time deposits must be made substantially on the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions with other similarly situated persons and may not involve more than the normal risk of repayment. (g) Reciprocal arrangements. Finally, while a depository institution may enter into an arrangement with an unaffiliated third party wherein the third party agrees to stand ready to purchase time deposits held by the depository institution's customers, the Board will regard a reciprocal arrangement with another depository institution for purchase of each other's time deposits as a circumvention of the early withdrawal penalty rule and the purposes it is designed to serve. [52 FR 47697, Dec. 16, 1987] Sec. 204.132 Treatment of loan strip participations. (a) Effective March 31, 1988, the glossary section of the instructions for the [[Page 103]] Report of Condition and Income (FFIEC 031-034; OMB control number 7100- 0036; available from a depository institution's primary federal regulator) (Call Report) was amended to clarify that certain short-term loan participation arrangements (sometimes known or styled as loan strips or strip participations) are regarded as borrowings rather than sales for Call Report purposes in certain circumstances. Through this interpretation, the Board is clarifying that such transactions should be treated as deposits for purposes of Regulation D. (b) These transactions involve the sale (or placement) of a short- term loan by a depository institution that has been made under a long- term commitment of the depository institution to advance funds. For example, a 90-day loan made under a five-year revolving line of credit may be sold to or placed with a third party by the depository institution originating the loan. The depository institution originating the loan is obligated to renew the 90-day note itself (by advancing funds to its customer at the end of the 90-day period) in the event the original participant does not wish to renew the credit. Since, under these arrangements, the depository institution is obligated to make another loan at the end of 90 days (absent any event of default on the part of the borrower), the depository institution selling the loan or participation in effect must buy back the loan or participation at the maturity of the 90-day loan sold to or funded by the purchaser at the option of the purchaser. Accordingly, these transactions bear the essential characteristics of a repurchase agreement and, therefore, are reportable and reservable under Regulation D. (c) Because many of these transactions give rise to deposit liabilities in the form of promissory notes, acknowledgments of advance or similar obligations (written or oral) as described in Sec. 204.2(a)(1)(vii) of Regulation D, the exemptions from the definition of deposit incorporated in that section may apply to the liability incurred by a depository institution when it offers or originates a loan strip facility. Thus, for example, loan strips sold to domestic offices of other depository institutions are exempt from Regulation D under Sec. 204.2(a)(1)(vii)(A)(1) because they are obligations issued or undertaken and held for the account of a U.S. office of another depository institution. Similarly, some of these transactions result in Eurocurrency liabilities and are reportable and reservable as such. [53 FR 24931, July 1, 1988] Sec. 204.133 Multiple savings deposits treated as a transaction account. (a) Authority. Under section 19(a) of the Federal Reserve Act, the Board is authorized to define the terms used in section 19, and to prescribe regulations to implement and prevent evasions of the requirements of that section. Section 19(b) establishes general reserve requirements on transaction accounts and nonpersonal time deposits. Under section 19(b)(1)(F), the Board also is authorized to determine, by regulation or order, that an account or deposit is a transaction account if such account is used directly or indirectly for the purpose of making payments to third persons or others. This interpretation is adopted under these authorities. (b) Background. Under Regulation D, 12 CFR 204.2(d)(2), the term ``savings deposit'' includes a deposit or an account that meets the requirements of Sec. 204.2(d)(1) and from which, under the terms of the deposit contract or by practice of the depository institution, the depositor is permitted or authorized to make up to six transfers or withdrawals per month or statement cycle of at least four weeks. The depository institution may authorize up to three of these six transfers to be made by check, draft, debit card, or similar order drawn by the depositor and payable to third parties. If more than six transfers (or more than three third party transfers by check, etc.) are permitted or authorized per month or statement cycle, the depository institution may not classify the account as a savings deposit. If the depositor, during the period, makes more than six transfers or withdrawals (or more than three third party transfers by check, etc.), the depository institution may, depending upon the facts and circumstances, be required by Regulation [[Page 104]] D (Footnote 5 at Sec. 204.2(d)(2)) to reclassify or close the account. (c) Use of multiple savings deposits. Depository institutions have asked for guidance as to when a depositor may maintain more than one savings deposit and be permitted to make all the transfers or withdrawals authorized for savings deposits under Regulation D from each savings deposit. The Board has determined that, if a depository institution suggests or otherwise promotes the establishment of or operation of multiple savings accounts with transfer capabilities in order to permit transfers and withdrawals in excess of those permitted by Regulation D for an individual savings account, the accounts generally should be considered to be transaction accounts. This determination applies regardless of whether the deposits have entirely separate account numbers or are subsidiary accounts of a master deposit account. Multiple savings accounts, however, should not be considered to be transaction accounts if there is a legitimate purpose, other than increasing the number of transfers or withdrawals, for opening more than one savings deposit. (d) Examples. The distinction between appropriate and inappropriate uses of multiple accounts is illustrated by the following examples: Example 1. (i) X wishes to open an account that maximizes his interest earnings but also permits X to draw up to ten checks a month against the account. X's Bank suggests an arrangement under which X establishes four savings deposits at Bank. Under the arrangement, X deposits funds in the first account and then draws three checks against that account. X then instructs Bank to transfer all funds in excess of the amount of the three checks to the second account and draws an additional three checks. Funds are continually shifted between accounts when additional checks are drawn so that no more than three checks are drawn against each account each month. (ii) Suggesting the use of four savings accounts in the name of X in this example is designed solely to permit the customer to exceed the transfer limitations on savings accounts. Accordingly, the savings accounts should be classified as transaction accounts. Example 2. (i) X is trustee of separate trusts for each of his four children. X's Bank suggests that X, as trustee, open a savings deposit in a depository institution for each of his four children in order to ensure an independent accounting of the funds held by each trust. (ii) X's Bank's suggestion to use four savings deposits in the name of X in this example is appropriate, and the third party transfers from one account should not be considered in determining whether the transfer and withdrawal limit was exceeded on any other account. X established a legitimate purpose, the segregation of the trust assets, for each account separate from the need to make third party transfers. Furthermore, there is no indication, such as by the direct or indirect transfer of funds from one account to another, that the accounts are being used for any purpose other than to make transfers to the appropriate trust. Example 3. (i) X opens four savings accounts with Bank. X regularly draws up to three checks against each account and transfers funds between the accounts in order to ensure that the checks on the separate accounts are covered. X's Bank did not suggest or otherwise promote the arrangement. (ii) X's Bank may treat the multiple accounts as savings deposits for Regulation D purposes, even if it discovers that X is using the accounts to increase the transfer limits applicable to savings accounts because X's Bank did not suggest or otherwise promote the establishment of or operation of the arrangement. [57 FR 38427, Aug. 25, 1992] Sec. 204.134 Linked time deposits and transaction accounts. (a) Authority. Under section 19(a) of the Federal Reserve Act (12 U.S.C. 461(a)), the Board is authorized to define the terms used in section 19, and to prescribe regulations to implement and prevent evasions of the requirements of that section. Section 19(b)(2) establishes general reserve requirements on transaction accounts and nonpersonal time deposits. Under section 19(b)(1)(F), the Board also is authorized to determine, by regulation or order, that an account or deposit is a transaction account if such account is used directly or indirectly for the purpose of making payments to third persons or others. This interpretation is adopted under these authorities. (b) Linked time deposits and transaction accounts. Some depository institutions are offering or proposing to offer account arrangements under which a group of participating depositors maintain transaction accounts and time deposits with a depository institution in an arrangement under [[Page 105]] which each depositor may draw checks up to the aggregate amount held by that depositor in these accounts. Under this account arrangement, at the end of the day funds over a specified balance in each depositor's transaction account are swept from the transaction account into a commingled time deposit. A separate time deposit is opened on each business day with the balance of deposits received that day, as well as the proceeds of any time deposit that has matured that day that are not used to pay checks or withdrawals from the transaction accounts. The time deposits, which generally have maturities of seven days, are staggered so that one or more time deposits mature each business day. Funds are apportioned among the various time deposits in a manner calculated to minimize the possibility that the funds available on any given day would be insufficient to pay all items presented. (1) The time deposits involved in such an arrangement may be held directly by the depositor or indirectly through a trust or other arrangement. The individual depositor's interest in time deposits may be identifiable, with an agreement by the depositors that balances held in the arrangement may be used to pay checks drawn by other depositors participating in the arrangement, or the depositor may have an undivided interest in a series of time deposits. (2) Each day funds from the maturing time deposits are available to pay checks or other charges to the depositor's transaction account. The depository institution's decision concerning whether to pay checks drawn on an individual depositor's transaction account is based on the aggregate amount of funds that the depositor has invested in the arrangement, including any amount that may be invested in unmatured time deposits. Only if checks drawn by all participants in the arrangement exceed the total balance of funds available that day (i.e. funds from the time deposit that has matured that day as well as any deposits made to participating accounts during the day) is a time deposit withdrawn prior to maturity so as to incur an early withdrawal penalty. The arrangement may be marketed as providing the customer unlimited access to its funds with a high rate of interest. (c) Determination. In these arrangements, the aggregate deposit balances of all participants generally vary by a comparatively small amount, allowing the time deposits maturing on any day safely to cover any charges to the depositors' transaction accounts and avoiding any early withdrawal penalties. Thus, this arrangement substitutes time deposit balances for transaction accounts balances with no practical restrictions on the depositors' access to their funds, and serves no business purpose other than to allow the payment of higher interest through the avoidance of reserve requirements. As the time deposits may be used to provide funds indirectly for the purposes of making payments or transfers to third persons, the Board has determined that the time deposits should be considered to be transaction accounts for the purposes of Regulation D. [57 FR 38428, Aug. 25, 1992] Sec. 204.135 Shifting funds between depository institutions to make use of the low reserve tranche. (a) Authority. Under section 19(a) of the Federal Reserve Act (12 U.S.C. 461(a)) the Board is authorized to define terms used in section 19, and to prescribe regulations to implement and to prevent evasions of the requirements of that section. Section 19(b)(2) establishes general reserve requirements on transaction accounts and nonpersonal time deposits. In addition to its authority to define terms under section 19(a), section 19(g) of the Federal Reserve Act also give the Board the specific authority to define terms relating to deductions allowed in reserve computation, including ``balances due from other banks.'' This interpretation is adopted under these authorities. (b) Background. (1) Currently, the Board requires reserves of zero, three, or ten percent on transaction accounts, depending upon the amount of transaction deposits in the depository institution, and of zero percent on nonpersonal time deposits. In determining its reserve balance under Regulation D, a depository institution may deduct the [[Page 106]] balances it maintains in another depository institution located in the United States if those balances are subject to immediate withdrawal by the depositing depository institution (Sec. 204.3(f)). This deduction is commonly known as the ``due from'' deduction. In addition, Regulation D at Sec. 204.2(a)(1)(vii)(A) exempts from the definition of ``deposit'' any liability of a depository institution on a promissory note or similar obligation that is issued or undertaken and held for the account of an office located in the United States of another depository institution. Transactions falling within this exemption from the definition of ``deposit'' include federal funds or ``fed funds'' transactions. (2) Under section 19(b)(2) of the Federal Reserve Act (12 U.S.C. 461(b)(2)), the Board is required to impose reserves of three percent on total transaction deposits at or below an amount determined under a formula. Transaction deposits falling within this amount are in the ``low reserve tranche.'' Currently the low reserve tranche runs up to $42.2 million. Under section 19(b)(11) of the Federal Reserve Act (12 U.S.C. 461(b)(11)) the Board is also required to impose reserves of zero percent on reservable liabilities at or below an amount determined under a formula. Currently that amount is $3.6 million. (c) Shifting funds between depository institutions. The Board is aware that certain depository institutions with transaction account balances in an amount greater than the low reserve tranche have entered into transactions with affiliated depository institutions that have transaction account balances below the maximum low reserve tranche amount. These transactions are intended to lower the transaction reserves of the larger depository institution and leave the economic position of the smaller depository institutions unaffected, and have no apparent purpose other than to reduce required reserves of the larger institution. The larger depository institution places funds in a demand deposit at a small domestic depository institution. The larger depository institution considers those funds to be subject to the ``due from'' deduction, and accordingly reduces its transaction reserves in the amount of the demand deposit. The larger depository institution then reduces its transaction account reserves by 10 percent of the deposited amount. The small depository institution, because it is within the low reserve tranche, must maintain transaction account reserves of 3 percent on the funds deposited by the larger depository institution. The small depository institution then transfers all but 3 percent of the funds deposited by the larger depository institution back to the larger depository institution in a transaction that qualifies as a ``fed funds'' transaction. The 3 percent not transferred to the larger depository institution is the amount of the larger depository institution's deposit that the small depository institution must maintain as transaction account reserves. Because the larger depository institution books this second part of the transaction as a ``fed funds'' transaction, the larger depository institution does not maintain reserves on the funds that it receives back from the small depository institution. As a consequence, the larger depository institution has available for its use 97 percent of the amount transferred to the small depository institution. Had the larger depository institution not entered into the transaction, it would have maintained transaction account reserves of 10 percent on that amount, and would have had only 90 percent of that amount for use in its business. (d) Determination. The Board believes that the practice described above generally is a device to evade the reserves imposed by Regulation D. Consequently, the Board has determined that, in the circumstances described above, the larger depository institution depositing funds in the smaller institution may not take a ``due from'' deduction on account of the funds in the demand deposit account if, and to the extent that, funds flow back to the larger depository institution from the small depository institution by means of a transaction that is exempt from transaction account reserve requirements. [57 FR 38429, Aug. 25, 1992] [[Page 107]] Sec. 204.136 Treatment of trust overdrafts for reserve requirement reporting purposes. (a) Authority. Under section 19(a) of the Federal Reserve Act (12 U.S.C. 461(a)), the Board is authorized to define the terms used in section 19, and to prescribe regulations to implement and prevent evasions of the requirements of that section. Section 19(b) establishes general reserve requirements on transaction accounts and nonpersonal time deposits. Under section 19(b)(1)(F), the Board also is authorized to determine, by regulation or order, that an account or deposit is a transaction account if such account is used directly or indirectly for the purpose of making payments to third persons or others. This interpretation is adopted under these authorities. (b) Netting of trust account balances. (1) Not all depository institutions have treated overdrafts in trust accounts administered by a trust department in the same manner when calculating the balance in a commingled transaction account in the depository institution for the account of the trust department of the institution. In some cases, depository institutions carry the aggregate of the positive balances in the individual trust accounts as the balance on which reserves are computed for the commingled account. In other cases depository institutions net positive balances in some trust accounts against negative balances in other trust accounts, thus reducing the balance in the commingled account and lowering the reserve requirements. Except in limited circumstances, negative balances in individual trust accounts should not be netted against positive balances in other trust accounts when determining the balance in a trust department's commingled transaction account maintained in a depository institution's commercial department. The netting of positive and negative balances has the effect of reducing the aggregate of a commingled transaction account reported by the depository institution to the Federal Reserve and reduces the reserves the institution must hold against transaction accounts under Regulation D. Unless the governing trust agreement or state law authorizes the depository institution, as trustee, to lend money in one trust to another trust, the negative balances in effect, for purposes of Regulation D, represent a loan from the depository institution. Consequently, negative balances in individual trust accounts should not be netted against positive balances in other individual trust accounts, and the balance in any transaction account containing commingled trust balances should reflect positive or zero balances for each individual trust. (2) For example, where a trust department engages in securities lending activities for trust accounts, overdrafts might occur because of the trust department's attempt to ``normalize'' the effects of timing delays between the depository institution's receipt of the cash collateral from the broker and the trust department's posting of the transaction to the lending trust account. When securities are lent from a trust customer to a broker that pledges cash as collateral, the broker usually transfers the cash collateral to the depository institution on the day that the securities are made available. While the institution has the use of the funds from the time of the transfer, the trust department's normal posting procedures may not reflect receipt of the cash collateral by the individual account until the next day. On the day that the loan is terminated, the broker returns the securities to the lending trust account and the trust customer's account is debited for the amount of the cash collateral that is returned by the depository institution to the broker. The trust department, however, often does not liquidate the investment made with the cash collateral until the day after the loan terminates, a delay that normally causes a one day overdraft in the trust account. Regulation D requires that, on the day the loan is terminated, the depository institution regard the negative balance in the customer's account as zero for reserve requirement reporting purposes and not net the overdraft against positive balances in other accounts. (c) Procedures. In order to meet the requirements of Regulation D, a depository institution must have procedures to determine the aggregate of trust department transaction account balances [[Page 108]] for Regulation D on a daily basis. The procedures must consider only the positive balances in individual trust accounts without netting negative balances except in those limited circumstances where loans are legally permitted from one trust to another, or where offsetting is permitted pursuant to trust law or written agreement, or where the amount that caused the overdraft is still available in a settlement, suspense or other trust account within the trust department and may be used to offset the overdraft. [57 FR 38429, Aug. 25, 1992] PART 205_ELECTRONIC FUND TRANSFERS (REGULATION E)--Table of Contents Sec. 205.1 Authority and purpose. 205.2 Definitions. 205.3 Coverage. 205.4 General disclosure requirements; jointly offered services. 205.5 Issuance of access devices. 205.6 Liability of consumer for unauthorized transfers. 205.7 Initial disclosures. 205.8 Change in terms notice; error resolution notice. 205.9 Receipts at electronic terminals; periodic statements. 205.10 Preauthorized transfers. 205.11 Procedures for resolving errors. 205.12 Relation to other laws. 205.13 Administrative enforcement; record retention. 205.14 Electronic fund transfer service provider not holding consumer's account. 205.15 Electronic fund transfer of government benefits. 205.16 Disclosures at automated teller machines. 205.17 Requirements for overdraft services. 205.18 Requirements for financial institutions offering payroll card accounts. 205.20 Requirements for gift cards and gift certificates. Appendix A to Part 205--Model Disclosure Clauses and Forms Appendix B to Part 205--Federal Enforcement Agencies Appendix C to Part 205--Issuance of Staff Interpretations Supplement I to Part 205--Official Staff Interpretations Authority: 15 U.S.C. 1693b. Source: Reg. E, 61 FR 19669, May 2, 1996, unless otherwise noted. Sec. 205.1 Authority and purpose. (a) Authority. The regulation in this part, known as Regulation E, is issued by the Board of Governors of the Federal Reserve System pursuant to the Electronic Fund Transfer Act (15 U.S.C. 1693 et seq.). The information-collection requirements have been approved by the Office of Management and Budget under 44 U.S.C. 3501 et seq. and have been assigned OMB No. 7100-0200. (b) Purpose. This part carries out the purposes of the Electronic Fund Transfer Act, which establishes the basic rights, liabilities, and responsibilities of consumers who use electronic fund transfer services and of financial institutions that offer these services. The primary objective of the act and this part is the protection of individual consumers engaging in electronic fund transfers. Sec. 205.2 Definitions. For purposes of this part, the following definitions apply: (a)(1) Access device means a card, code, or other means of access to a consumer's account, or any combination thereof, that may be used by the consumer to initiate electronic fund transfers. (2) An access device becomes an accepted access device when the consumer: (i) Requests and receives, or signs, or uses (or authorizes another to use) the access device to transfer money between accounts or to obtain money, property, or services; (ii) Requests validation of an access device issued on an unsolicited basis; or (iii) Receives an access device in renewal of, or in substitution for, an accepted access device from either the financial institution that initially issued the device or a successor. (b)(1) Account means a demand deposit (checking), savings, or other consumer asset account (other than an occasional or incidental credit balance in a credit plan) held directly or indirectly by a financial institution and established primarily for personal, family, or household purposes. (2) The term includes a ``payroll card account'' which is an account that is directly or indirectly established [[Page 109]] through an employer and to which electronic fund transfers of the consumer's wages, salary, or other employee compensation (such as commissions), are made on a recurring basis, whether the account is operated or managed by the employer, a third-party payroll processor, a depository institution or any other person. For rules governing payroll card accounts, see Sec. 205.18. (3) The term does not include an account held by a financial institution under a bona fide trust agreement. (c) Act means the Electronic Fund Transfer Act (title IX of the Consumer Credit Protection Act, 15 U.S.C. 1693 et seq.). (d) Business day means any day on which the offices of the consumer's financial institution are open to the public for carrying on substantially all business functions. (e) Consumer means a natural person. (f) Credit means the right granted by a financial institution to a consumer to defer payment of debt, incur debt and defer its payment, or purchase property or services and defer payment therefor. (g) Electronic fund transfer is defined in Sec. 205.3. (h) Electronic terminal means an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic fund transfer. The term includes, but is not limited to, point-of-sale terminals, automated teller machines, and cash dispensing machines. (i) Financial institution means a bank, savings association, credit union, or any other person that directly or indirectly holds an account belonging to a consumer, or that issues an access device and agrees with a consumer to provide electronic fund transfer services. (j) Person means a natural person or an organization, including a corporation, government agency, estate, trust, partnership, proprietorship, cooperative, or association. (k) Preauthorized electronic fund transfer means an electronic fund transfer authorized in advance to recur at substantially regular intervals. (l) State means any state, territory, or possession of the United States; the District of Columbia; the Commonwealth of Puerto Rico; or any political subdivision of the above in this paragraph (l). (m) Unauthorized electronic fund transfer means an electronic fund transfer from a consumer's account initiated by a person other than the consumer without actual authority to initiate the transfer and from which the consumer receives no benefit. The term does not include an electronic fund transfer initiated: (1) By a person who was furnished the access device to the consumer's account by the consumer, unless the consumer has notified the financial institution that transfers by that person are no longer authorized; (2) With fraudulent intent by the consumer or any person acting in concert with the consumer; or (3) By the financial institution or its employee. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 71 FR 1481, Jan. 10, 2006; 71 FR 51449, Aug. 30, 2006] Sec. 205.3 Coverage. (a) General. This part applies to any electronic fund transfer that authorizes a financial institution to debit or credit a consumer's account. Generally, this part applies to financial institutions. For purposes of Sec. Sec. 205.3(b)(2) and (b)(3), 205.10(b), (d), and (e), 205.13, and 205.20, this part applies to any person. (b) Electronic fund transfer--(1) Definition. The term electronic fund transfer means any transfer of funds that is initiated through an electronic terminal, telephone, computer, or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit a consumer's account. The term includes, but is not limited to-- (i) Point-of-sale transfers; (ii) Automated teller machine transfers; (iii) Direct deposits or withdrawals of funds; (iv) Transfers initiated by telephone; and (v) Transfers resulting from debit card transactions, whether or not initiated through an electronic terminal. [[Page 110]] (2) Electronic fund transfer using information from a check. (i) This part applies where a check, draft, or similar paper instrument is used as a source of information to initiate a one-time electronic fund transfer from a consumer's account. The consumer must authorize the transfer. (ii) The person initiating an electronic fund transfer using the consumer's check as a source of information for the transfer must provide a notice that the transaction will or may be processed as an EFT, and obtain a consumer's authorization for each transfer. A consumer authorizes a one-time electronic fund transfer (in providing a check to a merchant or other payee for the MICR encoding, that is, the routing number of the financial institution, the consumer's account number and the serial number) when the consumer receives notice and goes forward with the underlying transaction. For point-of-sale transfers, the notice must be posted in a prominent and conspicuous location, and a copy thereof, or a substantially similar notice, must be provided to the consumer at the time of the transaction. (iii) The person that initiates an electronic fund transfer using the consumer's check as a source of information for the transfer shall also provide a notice to the consumer at the same time it provides the notice required under paragraph (b)(2)(ii) that when a check is used to initiate an electronic fund transfer, funds may be debited from the consumer's account as soon as the same day payment is received, and, as applicable, that the consumer's check will not be returned by the financial institution holding the consumer's account. For point-of-sale transfers, the person initiating the transfer may post the notice required in this paragraph (b)(2)(iii) in a prominent and conspicuous location and need not include this notice on the copy of the notice given to the consumer under paragraph (b)(2)(ii). The requirements in this paragraph (b)(2)(iii) shall remain in effect until December 31, 2009. (iv) A person may provide notices that are substantially similar to those set forth in appendix A-6 to comply with the requirements of this paragraph (b)(2). (3) Collection of returned item fees via electronic fund transfer-- (i) General. The person initiating an electronic fund transfer to collect a fee for the return of an electronic fund transfer or a check that is unpaid, including due to insufficient or uncollected funds in the consumer's account, must obtain the consumer's authorization for each transfer. A consumer authorizes a one-time electronic fund transfer from his or her account to pay the fee for the returned item or transfer if the person collecting the fee provides notice to the consumer stating that the person may electronically collect the fee, and the consumer goes forward with the underlying transaction. The notice must state that the fee will be collected by means of an electronic fund transfer from the consumer's account if the payment is returned unpaid and must disclose the dollar amount of the fee. If the fee may vary due to the amount of the transaction or due to other factors, then, except as otherwise provided in paragraph (b)(3)(ii) of this section, the person collecting the fee may disclose, in place of the dollar amount of the fee, an explanation of how the fee will be determined. (ii) Point-of-sale transactions. If a fee for an electronic fund transfer or check returned unpaid may be collected electronically in connection with a point-of-sale transaction, the person initiating an electronic fund transfer to collect the fee must post the notice described in paragraph (b)(3)(i) of this section in a prominent and conspicuous location. The person also must either provide the consumer with a copy of the posted notice (or a substantially similar notice) at the time of the transaction, or mail the copy (or a substantially similar notice) to the consumer's address as soon as reasonably practicable after the person initiates the electronic fund transfer to collect the fee. If the amount of the fee may vary due to the amount of the transaction or due to other factors, the posted notice may explain how the fee will be determined, but the notice provided to the consumer must state the dollar amount of the fee if the amount can be calculated at the time the notice is provided or mailed to the consumer. [[Page 111]] (iii) Delayed compliance date for fee disclosure. Through December 31, 2007, the notice required to be provided to consumers under paragraph (b)(3)(ii) of this section in connection with a point-of-sale transaction, whether given to the consumer at the time of the transaction or subsequently mailed to the consumer, need not include either the dollar amount of any fee collected electronically for a check or electronic fund transfer returned unpaid or an explanation of how the amount of the fee will be determined. (c) Exclusions from coverage. The term electronic fund transfer does not include: (1) Checks. Any transfer of funds originated by check, draft, or similar paper instrument; or any payment made by check, draft, or similar paper instrument at an electronic terminal. (2) Check guarantee or authorization. Any transfer of funds that guarantees payment or authorizes acceptance of a check, draft, or similar paper instrument but that does not directly result in a debit or credit to a consumer's account. (3) Wire or other similar transfers. Any transfer of funds through Fedwire or through a similar wire transfer system that is used primarily for transfers between financial institutions or between businesses. (4) Securities and commodities transfers. Any transfer of funds the primary purpose of which is the purchase or sale of a security or commodity, if the security or commodity is: (i) Regulated by the Securities and Exchange Commission or the Commodity Futures Trading Commission; (ii) Purchased or sold through a broker-dealer regulated by the Securities and Exchange Commission or through a futures commission merchant regulated by the Commodity Futures Trading Commission; or (iii) Held in book-entry form by a Federal Reserve Bank or federal agency. (5) Automatic transfers by account-holding institution. Any transfer of funds under an agreement between a consumer and a financial institution which provides that the institution will initiate individual transfers without a specific request from the consumer: (i) Between a consumer's accounts within the financial institution; (ii) From a consumer's account to an account of a member of the consumer's family held in the same financial institution; or (iii) Between a consumer's account and an account of the financial institution, except that these transfers remain subject to Sec. 205.10(e) regarding compulsory use and sections 915 and 916 of the act regarding civil and criminal liability. (6) Telephone-initiated transfers. Any transfer of funds that: (i) Is initiated by a telephone communication between a consumer and a financial institution making the transfer; and (ii) Does not take place under a telephone bill-payment or other written plan in which periodic or recurring transfers are contemplated. (7) Small institutions. Any preauthorized transfer to or from an account if the assets of the account-holding financial institution were $100 million or less on the preceding December 31. If assets of the account-holding institution subsequently exceed $100 million, the institution's exemption for preauthorized transfers terminates one year from the end of the calendar year in which the assets exceed $100 million. Preauthorized transfers exempt under this paragraph (c)(7) remain subject to Sec. 205.10(e) regarding compulsory use and sections 915 and 916 of the act regarding civil and criminal liability. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 71 FR 1659, Jan. 10, 2006; 71 FR 51456, Aug. 30, 2006; 75 FR 16613, Apr. 1, 2010] Sec. 205.4 General disclosure requirements; jointly offered services. (a)(1) Form of disclosures. Disclosures required under this part shall be clear and readily understandable, in writing, and in a form the consumer may keep, except as otherwise provided in this part. The disclosures required by this part may be provided to the consumer in electronic form, subject to compliance with the consumer-consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 [[Page 112]] U.S.C. 7001 et seq.). A financial institution may use commonly accepted or readily understandable abbreviations in complying with the disclosure requirements of this part. (2) Foreign language disclosures. Disclosures required under this part may be made in a language other than English, provided that the disclosures are made available in English upon the consumer's request. (b) Additional information; disclosures required by other laws. A financial institution may include additional information and may combine disclosures required by other laws (such as the Truth in Lending Act (15 U.S.C. 1601 et seq.) or the Truth in Savings Act (12 U.S.C. 4301 et seq.)) with the disclosures required by this part. (c) Multiple accounts and account holders--(1) Multiple accounts. A financial institution may combine the required disclosures into a single statement for a consumer who holds more than one account at the institution. (2) Multiple account holders. For joint accounts held by two or more consumers, a financial institution need provide only one set of the required disclosures and may provide them to any of the account holders. (d) Services offered jointly. Financial institutions that provide electronic fund transfer services jointly may contract among themselves to comply with the requirements that this part imposes on any or all of them. An institution need make only the disclosures required by Sec. Sec. 205.7 and 205.8 that are within its knowledge and within the purview of its relationship with the consumer for whom it holds an account. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 63 FR 14532, Mar. 25, 1998; 66 FR 17793, Apr. 4, 2001; 72 FR 63456, Nov. 9, 2007; 75 FR 16613, Apr. 1, 2010] Sec. 205.5 Issuance of access devices. (a) Solicited issuance. Except as provided in paragraph (b) of this section, a financial institution may issue an access device to a consumer only: (1) In response to an oral or written request for the device; or (2) As a renewal of, or in substitution for, an accepted access device whether issued by the institution or a successor. (b) Unsolicited issuance. A financial institution may distribute an access device to a consumer on an unsolicited basis if the access device is: (1) Not validated, meaning that the institution has not yet performed all the procedures that would enable a consumer to initiate an electronic fund transfer using the access device; (2) Accompanied by a clear explanation that the access device is not validated and how the consumer may dispose of it if validation is not desired; (3) Accompanied by the disclosures required by Sec. 205.7, of the consumer's rights and liabilities that will apply if the access device is validated; and (4) Validated only in response to the consumer's oral or written request for validation, after the institution has verified the consumer's identity by a reasonable means. Sec. 205.6 Liability of consumer for unauthorized transfers. (a) Conditions for liability. A consumer may be held liable, within the limitations described in paragraph (b) of this section, for an unauthorized electronic fund transfer involving the consumer's account only if the financial institution has provided the disclosures required by Sec. 205.7(b)(1), (2), and (3). If the unauthorized transfer involved an access device, it must be an accepted access device and the financial institution must have provided a means to identify the consumer to whom it was issued. (b) Limitations on amount of liability. A consumer's liability for an unauthorized electronic fund transfer or a series of related unauthorized transfers shall be determined as follows: (1) Timely notice given. If the consumer notifies the financial institution within two business days after learning of the loss or theft of the access device, the consumer's liability shall not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice to the financial institution. (2) Timely notice not given. If the consumer fails to notify the financial institution within two business days after learning of the loss or theft of the access device, the consumer's liability [[Page 113]] shall not exceed the lesser of $500 or the sum of: (i) $50 or the amount of unauthorized transfers that occur within the two business days, whichever is less; and (ii) The amount of unauthorized transfers that occur after the close of two business days and before notice to the institution, provided the institution establishes that these transfers would not have occurred had the consumer notified the institution within that two-day period. (3) Periodic statement; timely notice not given. A consumer must report an unauthorized electronic fund transfer that appears on a periodic statement within 60 days of the financial institution's transmittal of the statement to avoid liability for subsequent transfers. If the consumer fails to do so, the consumer's liability shall not exceed the amount of the unauthorized transfers that occur after the close of the 60 days and before notice to the institution, and that the institution establishes would not have occurred had the consumer notified the institution within the 60-day period. When an access device is involved in the unauthorized transfer, the consumer may be liable for other amounts set forth in paragraphs (b)(1) or (b)(2) of this section, as applicable. (4) Extension of time limits. If the consumer's delay in notifying the financial institution was due to extenuating circumstances, the institution shall extend the times specified above to a reasonable period. (5) Notice to financial institution. (i) Notice to a financial institution is given when a consumer takes steps reasonably necessary to provide the institution with the pertinent information, whether or not a particular employee or agent of the institution actually receives the information. (ii) The consumer may notify the institution in person, by telephone, or in writing. (iii) Written notice is considered given at the time the consumer mails the notice or delivers it for transmission to the institution by any other usual means. Notice may be considered constructively given when the institution becomes aware of circumstances leading to the reasonable belief that an unauthorized transfer to or from the consumer's account has been or may be made. (6) Liability under state law or agreement. If state law or an agreement between the consumer and the financial institution imposes less liability than is provided by this section, the consumer's liability shall not exceed the amount imposed under the state law or agreement. Sec. 205.7 Initial disclosures. (a) Timing of disclosures. A financial institution shall make the disclosures required by this section at the time a consumer contracts for an electronic fund transfer service or before the first electronic fund transfer is made involving the consumer's account. (b) Content of disclosures. A financial institution shall provide the following disclosures, as applicable: (1) Liability of consumer. A summary of the consumer's liability, under Sec. 205.6 or under state or other applicable law or agreement, for unauthorized electronic fund transfers. (2) Telephone number and address. The telephone number and address of the person or office to be notified when the consumer believes that an unauthorized electronic fund transfer has been or may be made. (3) Business days. The financial institution's business days. (4) Types of transfers; limitations. The type of electronic fund transfers that the consumer may make and any limitations on the frequency and dollar amount of transfers. Details of the limitations need not be disclosed if confidentiality is essential to maintain the security of the electronic fund transfer system. (5) Fees. Any fees imposed by the financial institution for electronic fund transfers or for the right to make transfers. (6) Documentation. A summary of the consumer's right to receipts and periodic statements, as provided in Sec. 205.9, and notices regarding preauthorized transfers as provided in Sec. Sec. 205.10(a), and 205.10(d). (7) Stop payment. A summary of the consumer's right to stop payment of a preauthorized electronic fund transfer and the procedure for placing a stop- [[Page 114]] payment order, as provided in Sec. 205.10(c). (8) Liability of institution. A summary of the financial institution's liability to the consumer under section 910 of the act for failure to make or to stop certain transfers. (9) Confidentiality. The circumstances under which, in the ordinary course of business, the financial institution may provide information concerning the consumer's account to third parties. (10) Error resolution. A notice that is substantially similar to Model Form A-3 as set out in appendix A of this part concerning error resolution. (11) ATM fees. A notice that a fee may be imposed by an automated teller machine operator as defined in Sec. 205.16(a)(1), when the consumer initiates an electronic fund transfer or makes a balance inquiry, and by any network used to complete the transaction. (c) Addition of electronic fund transfer services. If an electronic fund transfer service is added to a consumer's account and is subject to terms and conditions different from those described in the initial disclosures, disclosures for the new service are required. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 66 FR 13412, Mar. 6, 2001; 71 FR 1659, Jan. 10, 2006] Sec. 205.8 Change in terms notice; error resolution notice. (a) Change in terms notice--(1) Prior notice required. A financial institution shall mail or deliver a written notice to the consumer, at least 21 days before the effective date, of any change in a term or condition required to be disclosed under Sec. 205.7(b) if the change would result in: (i) Increased fees for the consumer; (ii) Increased liability for the consumer; (iii) Fewer types of available electronic fund transfers; or (iv) Stricter limitations on the frequency or dollar amount of transfers. (2) Prior notice exception. A financial institution need not give prior notice if an immediate change in terms or conditions is necessary to maintain or restore the security of an account or an electronic fund transfer system. If the institution makes such a change permanent and disclosure would not jeopardize the security of the account or system, the institution shall notify the consumer in writing on or with the next regularly scheduled periodic statement or within 30 days of making the change permanent. (b) Error resolution notice. For accounts to or from which electronic fund transfers can be made, a financial institution shall mail or deliver to the consumer, at least once each calendar year, an error resolution notice substantially similar to the model form set forth in appendix A of this part (Model Form A-3). Alternatively, an institution may include an abbreviated notice substantially similar to the model form error resolution notice set forth in Appendix A of this part (Model Form A-3), on or with each periodic statement required by Sec. 205.9(b). Sec. 205.9 Receipts at electronic terminals; periodic statements. (a) Receipts at electronic terminals--General. Except as provided in paragraph (e) of this section, a financial institution shall make a receipt available to a consumer at the time the consumer initiates an electronic fund transfer at an electronic terminal. The receipt shall set forth the following information, as applicable: (1) Amount. The amount of the transfer. A transaction fee may be included in this amount, provided the amount of the fee is disclosed on the receipt and displayed on or at the terminal. (2) Date. The date the consumer initiates the transfer. (3) Type. The type of transfer and the type of the consumer's account(s) to or from which funds are transferred. The type of account may be omitted if the access device used is able to access only one account at that terminal. (4) Identification. A number or code that identifies the consumer's account or accounts, or the access device used to initiate the transfer. The number or code need not exceed four digits or letters to comply with the requirements of this paragraph (a)(4). (5) Terminal location. The location of the terminal where the transfer is initiated, or an identification such as a code or terminal number. Except in [[Page 115]] limited circumstances where all terminals are located in the same city or state, if the location is disclosed, it shall include the city and state or foreign country and one of the following: (i) The street address; or (ii) A generally accepted name for the specific location; or (iii) The name of the owner or operator of the terminal if other than the account-holding institution. (6) Third party transfer. The name of any third party to or from whom funds are transferred. (b) Periodic statements. For an account to or from which electronic fund transfers can be made, a financial institution shall send a periodic statement for each monthly cycle in which an electronic fund transfer has occurred; and shall send a periodic statement at least quarterly if no transfer has occurred. The statement shall set forth the following information, as applicable: (1) Transaction information. For each electronic fund transfer occurring during the cycle: (i) The amount of the transfer; (ii) The date the transfer was credited or debited to the consumer's account; (iii) The type of transfer and type of account to or from which funds were transferred; (iv) For a transfer initiated by the consumer at an electronic terminal (except for a deposit of cash or a check, draft, or similar paper instrument), the terminal location described in paragraph (a)(5) of this section; and (v) The name of any third party to or from whom funds were transferred. (2) Account number. The number of the account. (3) Fees. The amount of any fees assessed against the account during the statement period for electronic fund transfers, for the right to make transfers, or for account maintenance. (4) Account balances. The balance in the account at the beginning and at the close of the statement period. (5) Address and telephone number for inquiries. The address and telephone number to be used for inquiries or notice of errors, preceded by ``Direct inquiries to'' or similar language. The address and telephone number provided on an error resolution notice under Sec. 205.8(b) given on or with the statement satisfies this requirement. (6) Telephone number for preauthorized transfers. A telephone number the consumer may call to ascertain whether preauthorized transfers to the consumer's account have occurred, if the financial institution uses the telephone-notice option under Sec. 205.10(a)(1)(iii). (c) Exceptions to the periodic statement requirement for certain accounts--(1) Preauthorized transfers to accounts. For accounts that may be accessed only by preauthorized transfers to the account the following rules apply: (i) Passbook accounts. For passbook accounts, the financial institution need not provide a periodic statement if the institution updates the passbook upon presentation or enters on a separate document the amount and date of each electronic fund transfer since the passbook was last presented. (ii) Other accounts. For accounts other than passbook accounts, the financial institution must send a periodic statement at least quarterly. (2) Intra-institutional transfers. For an electronic fund transfer initiated by the consumer between two accounts of the consumer in the same institution, documenting the transfer on a periodic statement for one of the two accounts satisfies the periodic statement requirement. (3) Relationship between paragraphs (c)(1) and (c)(2) of this section. An account that is accessed by preauthorized transfers to the account described in paragraph (c)(1) of this section and by intra- institutional transfers described in paragraph (c)(2) of this section, but by no other type of electronic fund transfers, qualifies for the exceptions provided by paragraph (c)(1) of this section . (d) Documentation for foreign-initiated transfers. The failure by a financial institution to provide a terminal receipt for an electronic fund transfer or to document the transfer on a periodic statement does not violate this part if: (1) The transfer is not initiated within a state; and (2) The financial institution treats an inquiry for clarification or documentation as a notice of error in accordance with Sec. 205.11. [[Page 116]] (e) Exception for receipts in small-value transfers. A financial institution is not subject to the requirement to make available a receipt under paragraph (a) of this section if the amount of the transfer is $15 or less. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 72 FR 36593, July 5, 2007] Sec. 205.10 Preauthorized transfers. (a) Preauthorized transfers to consumer's account--(1) Notice by financial institution. When a person initiates preauthorized electronic fund transfers to a consumer's account at least once every 60 days, the account-holding financial institution shall provide notice to the consumer by: (i) Positive notice. Providing oral or written notice of the transfer within two business days after the transfer occurs; or (ii) Negative notice. Providing oral or written notice, within two business days after the date on which the transfer was scheduled to occur, that the transfer did not occur; or (iii) Readily-available telephone line. Providing a readily available telephone line that the consumer may call to determine whether the transfer occurred and disclosing the telephone number on the initial disclosure of account terms and on each periodic statement. (2) Notice by payor. A financial institution need not provide notice of a transfer if the payor gives the consumer positive notice that the transfer has been initiated. (3) Crediting. A financial institution that receives a preauthorized transfer of the type described in paragraph (a)(1) of this section shall credit the amount of the transfer as of the date the funds for the transfer are received. (b) Written authorization for preauthorized transfers from consumer's account. Preauthorized electronic fund transfers from a consumer's account may be authorized only by a writing signed or similarly authenticated by the consumer. The person that obtains the authorization shall provide a copy to the consumer. (c) Consumer's right to stop payment--(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer. (2) Written confirmation. The financial institution may require the consumer to give written confirmation of a stop-payment order within 14 days of an oral notification. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification. An oral stop-payment order ceases to be binding after 14 days if the consumer fails to provide the required written confirmation. (d) Notice of transfers varying in amount--(1) Notice. When a preauthorized electronic fund transfer from the consumer's account will vary in amount from the previous transfer under the same authorization or from the preauthorized amount, the designated payee or the financial institution shall send the consumer written notice of the amount and date of the transfer at least 10 days before the scheduled date of transfer. (2) Range. The designated payee or the institution shall inform the consumer of the right to receive notice of all varying transfers, but may give the consumer the option of receiving notice only when a transfer falls outside a specified range of amounts or only when a transfer differs from the most recent transfer by more than an agreed- upon amount. (e) Compulsory use--(1) Credit. No financial institution or other person may condition an extension of credit to a consumer on the consumer's repayment by preauthorized electronic fund transfers, except for credit extended under an overdraft credit plan or extended to maintain a specified minimum balance in the consumer's account. (2) Employment or government benefit. No financial institution or other person may require a consumer to establish an account for receipt of electronic fund transfers with a particular institution as a condition of employment or receipt of a government benefit. [[Page 117]] Sec. 205.11 Procedures for resolving errors. (a) Definition of error--(1) Types of transfers or inquiries covered. The term error means: (i) An unauthorized electronic fund transfer; (ii) An incorrect electronic fund transfer to or from the consumer's account; (iii) The omission of an electronic fund transfer from a periodic statement; (iv) A computational or bookkeeping error made by the financial institution relating to an electronic fund transfer; (v) The consumer's receipt of an incorrect amount of money from an electronic terminal; (vi) An electronic fund transfer not identified in accordance with Sec. Sec. 205.9 or 205.10(a); or (vii) The consumer's request for documentation required by Sec. Sec. 205.9 or 205.10(a) or for additional information or clarification concerning an electronic fund transfer, including a request the consumer makes to determine whether an error exists under paragraphs (a)(1) (i) through (vi) of this section. (2) Types of inquiries not covered. The term error does not include: (i) A routine inquiry about the consumer's account balance; (ii) A request for information for tax or other recordkeeping purposes; or (iii) A request for duplicate copies of documentation. (b) Notice of error from consumer--(1) Timing; contents. A financial institution shall comply with the requirements of this section with respect to any oral or written notice of error from the consumer that: (i) Is received by the institution no later than 60 days after the institution sends the periodic statement or provides the passbook documentation, required by Sec. 205.9, on which the alleged error is first reflected; (ii) Enables the institution to identify the consumer's name and account number; and (iii) Indicates why the consumer believes an error exists and includes to the extent possible the type, date, and amount of the error, except for requests described in paragraph (a)(1)(vii) of this section. (2) Written confirmation. A financial institution may require the consumer to give written confirmation of an error within 10 business days of an oral notice. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification. (3) Request for documentation or clarifications. When a notice of error is based on documentation or clarification that the consumer requested under paragraph (a)(1)(vii) of this section, the consumer's notice of error is timely if received by the financial institution no later than 60 days after the institution sends the information requested. (c) Time limits and extent of investigation--(1) Ten-day period. A financial institution shall investigate promptly and, except as otherwise provided in this paragraph (c), shall determine whether an error occurred within 10 business days of receiving a notice of error. The institution shall report the results to the consumer within three business days after completing its investigation. The institution shall correct the error within one business day after determining that an error occurred. (2) Forty-five day period. If the financial institution is unable to complete its investigation within 10 business days, the institution may take up to 45 days from receipt of a notice of error to investigate and determine whether an error occurred, provided the institution does the following: (i) Provisionally credits the consumer's account in the amount of the alleged error (including interest where applicable) within 10 business days of receiving the error notice. If the financial institution has a reasonable basis for believing that an unauthorized electronic fund transfer has occurred and the institution has satisfied the requirements of Sec. 205.6(a), the institution may withhold a maximum of $50 from the amount credited. An institution need not provisionally credit the consumer's account if: [[Page 118]] (A) The institution requires but does not receive written confirmation within 10 business days of an oral notice of error; or (B) The alleged error involves an account that is subject to Regulation T (Securities Credit by Brokers and Dealers, 12 CFR part 220); (ii) Informs the consumer, within two business days after the provisional crediting, of the amount and date of the provisional crediting and gives the consumer full use of the funds during the investigation; (iii) Corrects the error, if any, within one business day after determining that an error occurred; and (iv) Reports the results to the consumer within three business days after completing its investigation (including, if applicable, notice that a provisional credit has been made final). (3) Extension of time periods. The time periods in paragraphs (c)(1) and (c)(2) of this section are extended as follows: (i) The applicable time is 20 business days in place of 10 business days under paragraphs (c)(1) and (c)(2) of this section if the notice of error involves an electronic fund transfer to or from the account within 30 days after the first deposit to the account was made. (ii) The applicable time is 90 days in place of 45 days under paragraph (c)(2) of this section, for completing an investigation, if a notice of error involves an electronic fund transfer that: (A) Was not initiated within a state; (B) Resulted from a point-of-sale debit card transaction; or (C) Occurred within 30 days after the first deposit to the account was made. (4) Investigation. With the exception of transfers covered by Sec. 205.14, a financial institution's review of its own records regarding an alleged error satisfies the requirements of this section if: (i) The alleged error concerns a transfer to or from a third party; and (ii) There is no agreement between the institution and the third party for the type of electronic fund transfer involved. (d) Procedures if financial institution determines no error or different error occurred. In addition to following the procedures specified in paragraph (c) of this section, the financial institution shall follow the procedures set forth in this paragraph (d) if it determines that no error occurred or that an error occurred in a manner or amount different from that described by the consumer: (1) Written explanation. The institution's report of the results of its investigation shall include a written explanation of the institution's findings and shall note the consumer's right to request the documents that the institution relied on in making its determination. Upon request, the institution shall promptly provide copies of the documents. (2) Debiting provisional credit. Upon debiting a provisionally credited amount, the financial institution shall: (i) Notify the consumer of the date and amount of the debiting; (ii) Notify the consumer that the institution will honor checks, drafts, or similar instruments payable to third parties and preauthorized transfers from the consumer's account (without charge to the consumer as a result of an overdraft) for five business days after the notification. The institution shall honor items as specified in the notice, but need honor only items that it would have paid if the provisionally credited funds had not been debited. (e) Reassertion of error. A financial institution that has fully complied with the error resolution requirements has no further responsibilities under this section should the consumer later reassert the same error, except in the case of an error asserted by the consumer following receipt of information provided under paragraph (a)(1)(vii) of this section. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 63 FR 52118, Sept. 29, 1998] Sec. 205.12 Relation to other laws. (a) Relation to Truth in Lending. (1) The Electronic Fund Transfer Act and this part govern-- (i) The addition to an accepted credit card as defined in Regulation Z (12 CFR 226.12, comment 12-2), of the capability to initiate electronic fund transfers; (ii) The issuance of an access device that permits credit extensions (under a preexisting agreement between a consumer and a financial institution) only [[Page 119]] when the consumer's account is overdrawn or to maintain a specified minimum balance in the consumer's account, or under an overdraft service, as defined in Sec. 205.17(a); (iii) The addition of an overdraft service, as defined in Sec. 205.17(a), to an accepted access device; and (iv) A consumer's liability for an unauthorized electronic fund transfer and the investigation of errors involving an extension of credit that occurs under an agreement between the consumer and a financial institution to extend credit when the consumer's account is overdrawn or to maintain a specified minimum balance in the consumer's account, or under an overdraft service, as defined in Sec. 205.17(a). (2) The Truth in Lending Act and Regulation Z (12 CFR part 226), which prohibit the unsolicited issuance of credit cards, govern-- (i) The addition of a credit feature to an accepted access device; and (ii) Except as provided in paragraph (a)(1)(ii) of this section, the issuance of a credit card that is also an access device. (b) Preemption of inconsistent state laws--(1) Inconsistent requirements. The Board shall determine, upon its own motion or upon the request of a state, financial institution, or other interested party, whether the act and this part preempt state law relating to electronic fund transfers, or dormancy, inactivity, or service fees, or expiration dates in the case of gift certificates, store gift cards, or general-use prepaid cards. (2) Standards for determination. State law is inconsistent with the requirements of the act and this part if it: (i) Requires or permits a practice or act prohibited by the federal law; (ii) Provides for consumer liability for unauthorized electronic fund transfers that exceeds the limits imposed by the federal law; (iii) Allows longer time periods than the federal law for investigating and correcting alleged errors, or does not require the financial institution to credit the consumer's account during an error investigation in accordance with Sec. 205.11(c)(2)(i); or (iv) Requires initial disclosures, periodic statements, or receipts that are different in content from those required by the federal law except to the extent that the disclosures relate to consumer rights granted by the state law and not by the federal law. (c) State exemptions--(1) General rule. Any state may apply for an exemption from the requirements of the act or this part for any class of electronic fund transfers within the state. The Board shall grant an exemption if it determines that: (i) Under state law the class of electronic fund transfers is subject to requirements substantially similar to those imposed by the federal law; and (ii) There is adequate provision for state enforcement. (2) Exception. To assure that the federal and state courts continue to have concurrent jurisdiction, and to aid in implementing the act: (i) No exemption shall extend to the civil liability provisions of section 915 of the act; and (ii) When the Board grants an exemption, the state law requirements shall constitute the requirements of the federal law for purposes of section 915 of the act, except for state law requirements not imposed by the federal law. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 74 FR 59052, Nov. 17, 2009; 75 FR 16614, Apr. 1, 2010] Sec. 205.13 Administrative enforcement; record retention. (a) Enforcement by federal agencies. Compliance with this part is enforced by the agencies listed in Appendix B of this part. (b) Record retention. (1) Any person subject to the act and this part shall retain evidence of compliance with the requirements imposed by the act and this part for a period of not less than two years from the date disclosures are required to be made or action is required to be taken. (2) Any person subject to the act and this part having actual notice that it is the subject of an investigation or an enforcement proceeding by its enforcement agency, or having been served with notice of an action filed under sections 910, 915, or 916(a) of the act, shall retain the records that pertain to the investigation, action, or proceeding until final disposition of the matter [[Page 120]] unless an earlier time is allowed by court or agency order. Sec. 205.14 Electronic fund transfer service provider not holding consumer's account. (a) Provider of electronic fund transfer service. A person that provides an electronic fund transfer service to a consumer but that does not hold the consumer's account is subject to all requirements of this part if the person: (1) Issues a debit card (or other access device) that the consumer can use to access the consumer's account held by a financial institution; and (2) Has no agreement with the account-holding institution regarding such access. (b) Compliance by service provider. In addition to the requirements generally applicable under this part, the service provider shall comply with the following special rules: (1) Disclosures and documentation. The service provider shall give the disclosures and documentation required by Sec. Sec. 205.7, 205.8, and 205.9 that are within the purview of its relationship with the consumer. The service provider need not furnish the periodic statement required by Sec. 205.9(b) if the following conditions are met: (i) The debit card (or other access device) issued to the consumer bears the service provider's name and an address or telephone number for making inquiries or giving notice of error; (ii) The consumer receives a notice concerning use of the debit card that is substantially similar to the notice contained in appendix A of this part; (iii) The consumer receives, on or with the receipts required by Sec. 205.9(a), the address and telephone number to be used for an inquiry, to give notice of an error, or to report the loss or theft of the debit card; (iv) The service provider transmits to the account-holding institution the information specified in Sec. 205.9(b)(1), in the format prescribed by the automated clearinghouse system used to clear the fund transfers; (v) The service provider extends the time period for notice of loss or theft of a debit card, set forth in Sec. 205.6(b) (1) and (2), from two business days to four business days after the consumer learns of the loss or theft; and extends the time periods for reporting unauthorized transfers or errors, set forth in Sec. Sec. 205.6(b)(3) and 205.11(b)(1)(i), from 60 days to 90 days following the transmittal of a periodic statement by the account-holding institution. (2) Error resolution. (i) The service provider shall extend by a reasonable time the period in which notice of an error must be received, specified in Sec. 205.11(b)(1)(i), if a delay resulted from an initial attempt by the consumer to notify the account-holding institution. (ii) The service provider shall disclose to the consumer the date on which it initiates a transfer to effect a provisional credit in accordance with Sec. 205.11(c)(2)(ii). (iii) If the service provider determines an error occurred, it shall transfer funds to or from the consumer's account, in the appropriate amount and within the applicable time period, in accordance with Sec. 205.11(c)(2)(i). (iv) If funds were provisionally credited and the service provider determines no error occurred, it may reverse the credit. The service provider shall notify the account-holding institution of the period during which the account-holding institution must honor debits to the account in accordance with Sec. 205.11(d)(2)(ii). If an overdraft results, the service provider shall promptly reimburse the account- holding institution in the amount of the overdraft. (c) Compliance by account-holding institution. The account-holding institution need not comply with the requirements of the act and this part with respect to electronic fund transfers initiated through the service provider except as follows: (1) Documentation. The account-holding institution shall provide a periodic statement that describes each electronic fund transfer initiated by the consumer with the access device issued by the service provider. The account-holding institution has no liability for the failure to comply with this requirement if the service provider did not provide the necessary information; and (2) Error resolution. Upon request, the account-holding institution shall provide information or copies of documents needed by the service provider [[Page 121]] to investigate errors or to furnish copies of documents to the consumer. The account-holding institution shall also honor debits to the account in accordance with Sec. 205.11(d)(2)(ii). Sec. 205.15 Electronic fund transfer of government benefits. (a) Government agency subject to regulation. (1) A government agency is deemed to be a financial institution for purposes of the act and this part if directly or indirectly it issues an access device to a consumer for use in initiating an electronic fund transfer of government benefits from an account, other than needs-tested benefits in a program established under state or local law or administered by a state or local agency. The agency shall comply with all applicable requirements of the act and this part, except as provided in this section. (2) For purposes of this section, the term account means an account established by a government agency for distributing government benefits to a consumer electronically, such as through automated teller machines or point-of-sale terminals, but does not include an account for distributing needs-tested benefits in a program established under state or local law or administered by a state or local agency. (b) Issuance of access devices. For purposes of this section, a consumer is deemed to request an access device when the consumer applies for government benefits that the agency disburses or will disburse by means of an electronic fund transfer. The agency shall verify the identity of the consumer receiving the device by reasonable means before the device is activated. (c) Alternative to periodic statement. A government agency need not furnish the periodic statement required by Sec. 205.9(b) if the agency makes available to the consumer: (1) The consumer's account balance, through a readily available telephone line and at a terminal (such as by providing balance information at a balance-inquiry terminal or providing it, routinely or upon request, on a terminal receipt at the time of an electronic fund transfer); and (2) A written history of the consumer's account transactions that is provided promptly in response to an oral or written request and that covers at least 60 days preceding the date of a request by the consumer. (d) Modified requirements. A government agency that does not furnish periodic statements, in accordance with paragraph (c) of this section, shall comply with the following special rules: (1) Initial disclosures. The agency shall modify the disclosures under Sec. 205.7(b) by disclosing: (i) Account balance. The means by which the consumer may obtain information concerning the account balance, including a telephone number. The agency provides a notice substantially similar to the notice contained in paragraph A-5 in appendix A of this part. (ii) Written account history. A summary of the consumer's right to receive a written account history upon request, in place of the periodic statement required by Sec. 205.7(b)(6), and the telephone number to call to request an account history. This disclosure may be made by providing a notice substantially similar to the notice contained in paragraph A-5 in appendix A of this part. (iii) Error resolution. A notice concerning error resolution that is substantially similar to the notice contained in paragraph A-5 in appendix A of this part, in place of the notice required by Sec. 205.7(b)(10). (2) Annual error resolution notice. The agency shall provide an annual notice concerning error resolution that is substantially similar to the notice contained in paragraph A-5 in appendix A, in place of the notice required by Sec. 205.8(b). (3) Limitations on liability. For purposes of Sec. 205.6(b)(3), regarding a 60-day period for reporting any unauthorized transfer that appears on a periodic statement, the 60-day period shall begin with transmittal of a written account history or other account information provided to the consumer under paragraph (c) of this section. (4) Error resolution. The agency shall comply with the requirements of Sec. 205.11 in response to an oral or written [[Page 122]] notice of an error from the consumer that is received no later than 60 days after the consumer obtains the written account history or other account information, under paragraph (c) of this section, in which the error is first reflected. [Reg. E, 61 FR 19669, May 2, 1996, as amended at 62 FR 43469, Aug. 14, 1997] Sec. 205.16 Disclosures at automated teller machines. (a) Definition. Automated teller machine operator means any person that operates an automated teller machine at which a consumer initiates an electronic fund transfer or a balance inquiry and that does not hold the account to or from which the transfer is made, or about which an inquiry is made. (b) General. An automated teller machine operator that imposes a fee on a consumer for initiating an electronic fund transfer or a balance inquiry shall: (1) Provide notice that a fee will be imposed for providing electronic fund transfer services or a balance inquiry; and (2) Disclose the amount of the fee. (c) Notice requirement. To meet the requirements of paragraph (b) of this section, an automated teller machine operator must comply with the following: (1) On the machine. Post in a prominent and conspicuous location on or at the automated teller machine a notice that: (i) A fee will be imposed for providing electronic fund transfer services or for a balance inquiry; or (ii) A fee may be imposed for providing electronic fund transfer services or for a balance inquiry, but the notice in this paragraph (c)(1)(ii) may be substituted for the notice in paragraph (c)(1)(i) only if there are circumstances under which a fee will not be imposed for such services; and (2) Screen or paper notice. Provide the notice required by paragraphs (b)(1) and (b)(2) of this section either by showing it on the screen of the automated teller machine or by providing it on paper, before the consumer is committed to paying a fee. (d) Temporary exemption. Through December 31, 2004, the notice requirement in paragraph (c)(2) of this section does not apply to any automated teller machine that lacks the technical capability to provide such information. (e) Imposition of fee. An automated teller machine operator may impose a fee on a consumer for initiating an electronic fund transfer or a balance inquiry only if (1) The consumer is provided the notices required under paragraph (c) of this section, and (2) The consumer elects to continue the transaction or inquiry after receiving such notices. [Reg. E, 66 FR 13412, Mar. 6, 2001, as amended at 71 FR 1659, Jan. 10, 2006] Sec. 205.17 Requirements for overdraft services. (a) Definition. For purposes of this section, the term ``overdraft service'' means a service under which a financial institution assesses a fee or charge on a consumer's account held by the institution for paying a transaction (including a check or other item) when the consumer has insufficient or unavailable funds in the account. The term ``overdraft service'' does not include any payment of overdrafts pursuant to-- (1) A line of credit subject to the Federal Reserve Board's Regulation Z (12 CFR part 226), including transfers from a credit card account, home equity line of credit, or overdraft line of credit; (2) A service that transfers funds from another account held individually or jointly by a consumer, such as a savings account; or (3) A line of credit or other transaction exempt from the Federal Reserve Board's Regulation Z (12 CFR part 226) pursuant to 12 CFR 226.3(d). (b) Opt-in requirement--(1) General. Except as provided under paragraph (c) of this section, a financial institution holding a consumer's account shall not assess a fee or charge on a consumer's account for paying an ATM or one-time debit card transaction pursuant to the institution's overdraft service, unless the institution: (i) Provides the consumer with a notice in writing, or if the consumer agrees, electronically, segregated from all other information, describing the institution's overdraft service; [[Page 123]] (ii) Provides a reasonable opportunity for the consumer to affirmatively consent, or opt in, to the service for ATM and one-time debit card transactions; (iii) Obtains the consumer's affirmative consent, or opt-in, to the institution's payment of ATM or one-time debit card transactions; and (iv) Provides the consumer with confirmation of the consumer's consent in writing, or if the consumer agrees, electronically, which includes a statement informing the consumer of the right to revoke such consent. (2) Conditioning payment of other overdrafts on consumer's affirmative consent. A financial institution shall not: (i) Condition the payment of any overdrafts for checks, ACH transactions, and other types of transactions on the consumer affirmatively consenting to the institution's payment of ATM and one- time debit card transactions pursuant to the institution's overdraft service; or (ii) Decline to pay checks, ACH transactions, and other types of transactions that overdraw the consumer's account because the consumer has not affirmatively consented to the institution's overdraft service for ATM and one-time debit card transactions. (3) Same account terms, conditions, and features. A financial institution shall provide to consumers who do not affirmatively consent to the institution's overdraft service for ATM and one-time debit card transactions the same account terms, conditions, and features that it provides to consumers who affirmatively consent, except for the overdraft service for ATM and one-time debit card transactions. (c) Timing--(1) Existing account holders. For accounts opened prior to July 1, 2010, the financial institution must not assess any fees or charges on a consumer's account on or after August 15, 2010 for paying an ATM or one-time debit card transaction pursuant to the overdraft service, unless the institution has complied with Sec. 205.17(b)(1) and obtained the consumer's affirmative consent. (2) New account holders. For accounts opened on or after July 1, 2010, the financial institution must comply with Sec. 205.17(b)(1) and obtain the consumer's affirmative consent before the institution assesses any fee or charge on the consumer's account for paying an ATM or one-time debit card transaction pursuant to the institution's overdraft service. (d) Content and format. The notice required by paragraph (b)(1)(i) of this section shall be substantially similar to Model Form A-9 set forth in Appendix A of this part, include all applicable items in this paragraph, and may not contain any information not specified in or otherwise permitted by this paragraph. (1) Overdraft service. A brief description of the financial institution's overdraft service and the types of transactions for which a fee or charge for paying an overdraft may be imposed, including ATM and one-time debit card transactions. (2) Fees imposed. The dollar amount of any fees or charges assessed by the financial institution for paying an ATM or one-time debit card transaction pursuant to the institution's overdraft service, including any daily or other overdraft fees. If the amount of the fee is determined on the basis of the number of times the consumer has overdrawn the account, the amount of the overdraft, or other factors, the institution must disclose the maximum fee that may be imposed. (3) Limits on fees charged. The maximum number of overdraft fees or charges that may be assessed per day, or, if applicable, that there is no limit. (4) Disclosure of opt-in right. An explanation of the consumer's right to affirmatively consent to the financial institution's payment of overdrafts for ATM and one-time debit card transactions pursuant to the institution's overdraft service, including the methods by which the consumer may consent to the service; and (5) Alternative plans for covering overdrafts. If the institution offers a line of credit subject to the Board's Regulation Z (12 CFR part 226) or a service that transfers funds from another account of the consumer held at the institution to cover overdrafts, the institution must state that fact. An institution may, but is not required to, list additional alternatives for the payment of overdrafts. [[Page 124]] (6) Permitted modifications and additional content. If applicable, the institution may modify the content required by Sec. 205.17(d) to indicate that the consumer has the right to opt into, or opt out of, the payment of overdrafts under the institution's overdraft service for other types of transactions, such as checks, ACH transactions, or automatic bill payments; to provide a means for the consumer to exercise this choice; and to disclose the associated returned item fee and that additional merchant fees may apply. The institution may also disclose the consumer's right to revoke consent. For notices provided to consumers who have opened accounts prior to July 1, 2010, the financial institution may describe the institution's overdraft service with respect to ATM and one-time debit card transactions with a statement such as ``After August 15, 2010, we will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below).'' (e) Joint relationships. If two or more consumers jointly hold an account, the financial institution shall treat the affirmative consent of any of the joint consumers as affirmative consent for that account. Similarly, the financial institution shall treat a revocation of affirmative consent by any of the joint consumers as revocation of consent for that account. (f) Continuing right to opt in or to revoke the opt-in. A consumer may affirmatively consent to the financial institution's overdraft service at any time in the manner described in the notice required by paragraph (b)(1)(i) of this section. A consumer may also revoke consent at any time in the manner made available to the consumer for providing consent. A financial institution must implement a consumer's revocation of consent as soon as reasonably practicable. (g) Duration and revocation of opt-in. A consumer's affirmative consent to the institution's overdraft service is effective until revoked by the consumer, or unless the financial institution terminates the service. [Reg. E, 74 FR 59052, Nov. 17, 2009, as amended at 75 FR 31671, June 4, 2010] Sec. 205.18 Requirements for financial institutions offering payroll card accounts. (a) Coverage. A financial institution shall comply with all applicable requirements of the act and this part with respect to payroll card accounts except as provided in this section. (b) Alternative to periodic statements. (1) A financial institution need not furnish periodic statements required by Sec. 205.9(b) if the institution makes available to the consumer-- (i) The consumer's account balance, through a readily available telephone line; (ii) An electronic history of the consumer's account transactions, such as through an Internet Web site, that covers at least 60 days preceding the date the consumer electronically accesses the account; and (iii) A written history of the consumer's account transactions that is provided promptly in response to an oral or written request and that covers at least 60 days preceding the date the financial institution receives the consumer's request. (2) The history of account transactions provided under paragraphs (b)(1)(ii) and (iii) of this section must include the information set forth in Sec. 205.9(b). (c) Modified requirements. A financial institution that provides information under paragraph (b) of this section, shall comply with the following: (1) Initial disclosures. The financial institution shall modify the disclosures under Sec. 205.7(b) by disclosing-- (i) Account information. A telephone number that the consumer may call to obtain the account balance, the means by which the consumer can obtain an electronic account history, such as the address of an Internet Web site, and a summary of the consumer's right to receive a written account history upon request (in place of the summary of the right to receive a periodic statement required by Sec. 205.7(b)(6)), including a telephone number to call to request a history. The disclosure required by this paragraph (c)(1)(i) may be made by providing a notice substantially similar to the notice contained in paragraph A-7(a) in appendix A of this part. [[Page 125]] (ii) Error resolution. A notice concerning error resolution that is substantially similar to the notice contained in paragraph A-7(b) in appendix A of this part, in place of the notice required by Sec. 205.7(b)(10). (2) Annual error resolution notice. The financial institution shall provide an annual notice concerning error resolution that is substantially similar to the notice contained in paragraph A-7(b) in appendix A of this part, in place of the notice required by Sec. 205.8(b). Alternatively, a financial institution may include on or with each electronic and written history provided in accordance with Sec. 205.18(b)(1), a notice substantially similar to the abbreviated notice for periodic statements contained in paragraph A-3(b) in appendix A of this part, modified as necessary to reflect the error resolution provisions set forth in this section. (3) Limitations on liability. (i) For purposes of Sec. 205.6(b)(3), the 60-day period for reporting any unauthorized transfer shall begin on the earlier of: (A) The date the consumer electronically accesses the consumer's account under paragraph (b)(1)(ii) of this section, provided that the electronic history made available to the consumer reflects the transfer; or (B) The date the financial institution sends a written history of the consumer's account transactions requested by the consumer under paragraph (b)(1)(iii) of this section in which the unauthorized transfer is first reflected. (ii) A financial institution may comply with paragraph (c)(3)(i) of this section by limiting the consumer's liability for an unauthorized transfer as provided under Sec. 205.6(b)(3) for any transfer reported by the consumer within 120 days after the transfer was credited or debited to the consumer's account. (4) Error resolution. (i) The financial institution shall comply with the requirements of Sec. 205.11 in response to an oral or written notice of an error from the consumer that is received by the earlier of-- (A) Sixty days after the date the consumer electronically accesses the consumer's account under paragraph (b)(1)(ii) of this section, provided that the electronic history made available to the consumer reflects the alleged error; or (B) Sixty days after the date the financial institution sends a written history of the consumer's account transactions requested by the consumer under paragraph (b)(1)(iii) of this section in which the alleged error is first reflected. (ii) In lieu of following the procedures in paragraph (c)(4)(i) of this section, a financial institution complies with the requirements for resolving errors in Sec. 205.11 if it investigates any oral or written notice of an error from the consumer that is received by the institution within 120 days after the transfer allegedly in error was credited or debited to the consumer's account. [Reg. E, 71 FR 51449, Aug. 30, 2006] Sec. 205.20 Requirements for gift cards and gift certificates. (a) Definitions. For purposes of this section, except as excluded under paragraph (b), the following definitions apply: (1) Gift certificate means a card, code, or other device that is: (i) Issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in a specified amount that may not be increased or reloaded in exchange for payment; and (ii) Redeemable upon presentation at a single merchant or an affiliated group of merchants for goods or services. (2) Store gift card means a card, code, or other device that is: (i) Issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in a specified amount, whether or not that amount may be increased or reloaded, in exchange for payment; and (ii) Redeemable upon presentation at a single merchant or an affiliated group of merchants for goods or services. (3) General-use prepaid card means a card, code, or other device that is: (i) Issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in a specified amount, whether or not that amount may be increased or reloaded, in exchange for payment; and [[Page 126]] (ii) Redeemable upon presentation at multiple, unaffiliated merchants for goods or services, or usable at automated teller machines. (4) Loyalty, award, or promotional gift card means a card, code, or other device that: (i) Is issued on a prepaid basis primarily for personal, family, or household purposes to a consumer in connection with a loyalty, award, or promotional program; (ii) Is redeemable upon presentation at one or more merchants for goods or services, or usable at automated teller machines; and (iii) Sets forth the following disclosures, as applicable: (A) A statement indicating that the card, code, or other device is issued for loyalty, award, or promotional purposes, which must be included on the front of the card, code, or other device; (B) The expiration date for the underlying funds, which must be included on the front of the card, code, or other device; (C) The amount of any fees that may be imposed in connection with the card, code, or other device, and the conditions under which they may be imposed, which must be provided on or with the card, code, or other device; and (D) A toll-free telephone number and, if one is maintained, a Web site, that a consumer may use to obtain fee information, which must be included on the card, code, or other device. (5) Dormancy or inactivity fee. The terms ``dormancy fee'' and ``inactivity fee'' mean a fee for non-use of or inactivity on a gift certificate, store gift card, or general-use prepaid card. (6) Service fee. The term ``service fee'' means a periodic fee for holding or use of a gift certificate, store gift card, or general-use prepaid card. A periodic fee includes any fee that may be imposed on a gift certificate, store gift card, or general-use prepaid card from time to time for holding or using the certificate or card. (7) Activity. The term ``activity'' means any action that results in an increase or decrease of the funds underlying a certificate or card, other than the imposition of a fee, or an adjustment due to an error or a reversal of a prior transaction. (b) Exclusions. The terms ``gift certificate,'' ``store gift card,'' and ``general-use prepaid card'', as defined in paragraph (a) of this section, do not include any card, code, or other device that is: (1) Useable solely for telephone services; (2) Reloadable and not marketed or labeled as a gift card or gift certificate. For purposes of this paragraph (b)(2), the term ``reloadable'' includes a temporary non-reloadable card issued solely in connection with a reloadable card, code, or other device; (3) A loyalty, award, or promotional gift card; (4) Not marketed to the general public; (5) Issued in paper form only; or (6) Redeemable solely for admission to events or venues at a particular location or group of affiliated locations, or to obtain goods or services in conjunction with admission to such events or venues, at the event or venue or at specific locations affiliated with and in geographic proximity to the event or venue. (c) Form of disclosures--(1) Clear and conspicuous. Disclosures made under this section must be clear and conspicuous. The disclosures may contain commonly accepted or readily understandable abbreviations or symbols. (2) Format. Disclosures made under this section generally must be provided to the consumer in written or electronic form. Except for the disclosures in paragraphs (c)(3) and (h)(2), written and electronic disclosures made under this section must be in a retainable form. Only disclosures provided under paragraphs (c)(3) and (h)(2) of this section may be given orally. (3) Disclosures prior to purchase. Before a gift certificate, store gift card, or general-use prepaid card is purchased, a person that issues or sells such certificate or card must disclose to the consumer the information required by paragraphs (d)(2), (e)(3), and (f)(1) of this section. The fees and terms and conditions of expiration that are required to be disclosed prior to purchase may not be changed after purchase. [[Page 127]] (4) Disclosures on the certificate or card. Disclosures required by paragraphs (a)(4)(iii), (d)(2), (e)(3), and (f)(2) of this section must be made on the certificate or card, or in the case of a loyalty, award, or promotional gift card, on the card, code, or other device. A disclosure made in an accompanying terms and conditions document, on packaging surrounding a certificate or card, or on a sticker or other label affixed to the certificate or card does not constitute a disclosure on the certificate or card. For an electronic certificate or card, disclosures must be provided electronically on the certificate or card provided to the consumer. An issuer that provides a code or confirmation to a consumer orally must provide to the consumer a written or electronic copy of the code or confirmation promptly, and the applicable disclosures must be provided on the written copy of the code or confirmation. (d) Prohibition on imposition of fees or charges. No person may impose a dormancy, inactivity, or service fee with respect to a gift certificate, store gift card, or general-use prepaid card, unless: (1) There has been no activity with respect to the certificate or card, in the one-year period ending on the date on which the fee is imposed; (2) The following are stated, as applicable, clearly and conspicuously on the gift certificate, store gift card, or general-use prepaid card: (i) The amount of any dormancy, inactivity, or service fee that may be charged; (ii) How often such fee may be assessed; and (iii) That such fee may be assessed for inactivity; and (3) Not more than one dormancy, inactivity, or service fee is imposed in any given calendar month. (e) Prohibition on sale of gift certificates or cards with expiration dates. No person may sell or issue a gift certificate, store gift card, or general-use prepaid card with an expiration date, unless: (1) The person has established policies and procedures to provide consumers with a reasonable opportunity to purchase a certificate or card with at least five years remaining until the certificate or card expiration date; (2) The expiration date for the underlying funds is at least the later of: (i) Five years after the date the gift certificate was initially issued, or the date on which funds were last loaded to a store gift card or general-use prepaid card; or (ii) The certificate or card expiration date, if any; (3) The following disclosures are provided on the certificate or card, as applicable: (i) The expiration date for the underlying funds or, if the underlying funds do not expire, that fact; (ii) A toll-free telephone number and, if one is maintained, a Web site that a consumer may use to obtain a replacement certificate or card after the certificate or card expires if the underlying funds may be available; and (iii) Except where a non-reloadable certificate or card bears an expiration date that is at least seven years from the date of manufacture, a statement, disclosed with equal prominence and in close proximity to the certificate or card expiration date, that: (A) The certificate or card expires, but the underlying funds either do not expire or expire later than the certificate or card, and; (B) The consumer may contact the issuer for a replacement card; and (4) No fee or charge is imposed on the cardholder for replacing the gift certificate, store gift card, or general-use prepaid card or for providing the certificate or card holder with the remaining balance in some other manner prior to the funds expiration date, unless such certificate or card has been lost or stolen. (f) Additional disclosure requirements for gift certificates or cards. The following disclosures must be provided in connection with a gift certificate, store gift card, or general-use prepaid card, as applicable: (1) Fee disclosures. For each type of fee that may be imposed in connection with the certificate or card (other than a dormancy, inactivity, or service fee subject to the disclosure requirements under paragraph (d)(2) of this section), the following information must be provided on or with the certificate or card: [[Page 128]] (i) The type of fee; (ii) The amount of the fee (or an explanation of how the fee will be determined); and (iii) The conditions under which the fee may be imposed. (2) Telephone number for fee information. A toll-free telephone number and, if one is maintained, a Web site, that a consumer may use to obtain information about fees described in paragraphs (d)(2) and (f)(1) of this section must be disclosed on the certificate or card. (g) Compliance dates--(1) Effective date for gift certificates, store gift cards, and general-use prepaid cards. Except as provided in paragraph (h), the requirements of this section apply to any gift certificate, store gift card, or general-use prepaid card sold to a consumer on or after August 22, 2010, or provided to a consumer as a replacement for such certificate or card. (2) Effective date for loyalty, award, or promotional gift cards. The requirements in paragraph (a)(4)(iii) apply to any card, code, or other device provided to a consumer in connection with a loyalty, award, or promotional program if the period of eligibility for such program began on or after August 22, 2010. (h) Temporary exemption--(1) Delayed effective date. For any gift certificate, store gift card, or general-use prepaid card produced prior to April 1, 2010, the effective date of the requirements of paragraphs (c)(3), (d)(2), (e)(1), (e)(3), and (f) of this section is January 31, 2011, provided that an issuer of such certificate or card: (i) Complies with all other provisions of this section; (ii) Does not impose an expiration date with respect to the funds underlying such certificate or card; (iii) At the consumer's request, replaces such certificate or card if it has funds remaining at no cost to the consumer; and (iv) Satisfies the requirements of paragraph (h)(2) of this section. (2) Additional disclosures. Issuers relying on the delayed effective date in Sec. 205.20(h)(1) must disclose through in-store signage, messages during customer service calls, Web sites, and general advertising, that: (i) The underlying funds of such certificate or card do not expire; (ii) Consumers holding such certificate or card have a right to a free replacement certificate or card, which must be accompanied by the packaging and materials typically associated with such certificate or card; and (iii) Any dormancy, inactivity, or service fee for such certificate or card that might otherwise be charged will not be charged if such fees do not comply with Section 915 of the Electronic Fund Transfer Act. (3) Expiration of additional disclosure requirements. The disclosures in paragraph (h)(2) of this section: (i) Are not required to be provided on or after January 31, 2011, with respect to in-store signage and general advertising. (ii) Are not required to be provided on or after January 31, 2013, with respect to messages during customer service calls and Web sites. [Reg. E, 75 FR 16614, Apr. 1, 2010, as amended at 75 FR 50687, Aug. 17, 2010; 75 FR 66648, Oct. 29, 2010] Sec. Appendix A to Part 205--Model Disclosure Clauses and Forms Table of Contents A-1--Model Clauses for unsolicited issuance (Sec. 205.5(b)(2)) A-2--Model clauses for initial disclosures (Sec. 205.7(b)) A-3--Model forms for error resolution notice (Sec. Sec. 205.7(b)(10) and 205.8(b)) A-4--Model form for service-providing institutions (Sec. 205.14(b)(1)(ii)) A-5--Model forms for government agencies (Sec. 205.15(d)(1) and (2)) A-9 Model Consent Form for Overdraft Services (Sec. 205.17) A-1--Model Clauses For Unsolicited Issuance (Sec. 205.5(b)(2)) (a) Accounts using cards. You cannot use the enclosed card to transfer money into or out of your account until we have validated it. If you do not want to use the card, please (destroy it at once by cutting it in half). [Financial institution may add validation instructions here.] (b) Accounts using codes. You cannot use the enclosed code to transfer money into or out of your account until we have validated it. If you do not want to use the code, please (destroy this notice at once). [Financial institution may add validation instructions here.] [[Page 129]] A-2--Model Clauses For Initial Disclosures (Sec. 205.7(b)) (a) Consumer Liability (Sec. 205.7(b)(1)). (Tell us AT ONCE if you believe your [card] [code] has been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission using information from your check. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your [card] [code], you can lose no more than $50 if someone used your [card][code] without your permission.) If you do NOT tell us within 2 business days after you learn of the loss or theft of your [card] [code], and we can prove we could have stopped someone from using your [card] [code] without your permission if you had told us, you could lose as much as $500. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. (b) Contact in event of unauthorized transfer (Sec. 205.7(b)(2)). If you believe your [card] [code] has been lost or stolen, call: [Telephone number] or write: [Name of person or office to be notified] [Address] You should also call the number or write to the address listed above if you believe a transfer has been made using the information from your check without your permission. (c) Business days (Sec. 205.7(b)(3)). For purposes of these disclosures, our business days are (Monday through Friday) (Monday through Saturday) (any day including Saturdays and Sundays). Holidays are (not) included. (d) Transfer types and limitations (Sec. 205.7(b)(4))--(1) Account access. You may use your [card][code] to: (i) Withdraw cash from your [checking] [or] [savings] account. (ii) Make deposits to your [checking] [or] [savings] account. (iii) Transfer funds between your checking and savings accounts whenever you request. (iv) Pay for purchases at places that have agreed to accept the [card] [code]. (v) Pay bills directly [by telephone] from your [checking] [or] [savings] account in the amounts and on the days you request. Some of these services may not be available at all terminals. (2) Electronic check conversion. You may authorize a merchant or other payee to make a one-time electronic payment from your checking account using information from your check to: (i) Pay for purchases. (ii) Pay bills. (3) Limitations on frequency of transfers. (i) You may make only [insert number, e.g., 3] cash withdrawals from our terminals each [insert time period, e.g., week]. (ii) You can use your telephone bill-payment service to pay [insert number] bills each [insert time period] [telephone call]. (iii) You can use our point-of-sale transfer service for [insert number] transactions each [insert time period]. (iv) For security reasons, there are limits on the number of transfers you can make using our [terminals] [telephone bill-payment service] [point-of-sale transfer service]. (4) Limitations on dollar amounts of transfers. (i) You may withdraw up to [insert dollar amount] from our terminals each [insert time period] time you use the [card] [code]. (ii) You may buy up to [insert dollar amount] worth of goods or services each [insert time period] time you use the [card] [code] in our point-of-sale transfer service. (e) Fees (Sec. 205.7(b)(5))--(1) Per transfer charge. We will charge you [insert dollar amount] for each transfer you make using our [automated teller machines] [telephone bill-payment service] [point-of- sale transfer service]. (2) Fixed charge. We will charge you [insert dollar amount] each [insert time period] for our [automated teller machine service] [telephone bill-payment service] [point-of-sale transfer service]. (3) Average or minimum balance charge. We will only charge you for using our [automated teller machines] [telephone bill-payment service] [point-of-sale transfer service] if the [average] [minimum] balance in your [checking account] [savings account] [accounts] falls below [insert dollar amount]. If it does, we will charge you [insert dollar amount] each [transfer] [insert time period]. (f) Confidentiality (Sec. 205.7(b)(9)). We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) If you give us your written permission. (g) Documentation (Sec. 205.7(b)(6))--(1) Terminal transfers. You can get a receipt at the time you make any transfer to or from your account using one of our [automated teller machines] [or] [point-of-sale terminals]. (2) Preauthorized credits. If you have arranged to have direct deposits made to your [[Page 130]] account at least once every 60 days from the same person or company, (we will let you know if the deposit is [not] made.) [the person or company making the deposit will tell you every time they send us the money] [you can call us at (insert telephone number) to find out whether or not the deposit has been made]. (3) Periodic statements. You will get a [monthly] [quarterly] account statement (unless there are no transfers in a particular month. In any case you will get the statement at least quarterly). (4) Passbook account where the only possible electronic fund transfers are preauthorized credits. If you bring your passbook to us, we will record any electronic deposits that were made to your account since the last time you brought in your passbook. (h) Preauthorized payments (Sec. 205.7(b) (6), (7) and (8); Sec. 205.10(d))--(1) Right to stop payment and procedure for doing so. If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here's how: Call us at [insert telephone number], or write us at [insert address], in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. (We will charge you [insert amount] for each stop- payment order you give.) (2) Notice of varying amounts. If these regular payments may vary in amount, [we] [the person you are going to pay] will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.) (3) Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages. (i) Financial institution's liability (Sec. 205.7(b)(8)). If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If the transfer would go over the credit limit on your overdraft line. (3) If the automated teller machine where you are making the transfer does not have enough cash. (4) If the [terminal] [system] was not working properly and you knew about the breakdown when you started the transfer. (5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken. (6) There may be other exceptions stated in our agreement with you. (j) ATM fees (Sec. 205.7(b)(11)). When you use an ATM not owned by us, you may be charged a fee by the ATM operator [or any network used] (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer). A-3--Model Forms For Error Resolution Notice (Sec. Sec. 205.7(b)(10) and 205.8(b)) (a) Initial and annual error resolution notice (Sec. Sec. 205.7(b)(10) and 205.8(b)). In Case of Errors or Questions About Your Electronic Transfers Telephone us at [insert telephone number] Write us at [insert address] [or E-mail us at [insert electronic mail address]] as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign- initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You [[Page 131]] may ask for copies of the documents that we used in our investigation. (b) Error resolution notice on periodic statements (Sec. 205.8(b)). In Case of Errors or Questions About Your Electronic Transfers Telephone us at [insert telephone number] or Write us at [insert address] as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number (if any). (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. A-4--Model Form For Service-providing Institutions (Sec. 205.14(b)(1)(ii)) ALL QUESTIONS ABOUT TRANSACTIONS MADE WITH YOUR (NAME OF CARD) CARD MUST BE DIRECTED TO US (NAME OF SERVICE PROVIDER), AND NOT TO THE BANK OR OTHER FINANCIAL INSTITUTION WHERE YOU HAVE YOUR ACCOUNT. We are responsible for the [name of service] service and for resolving any errors in transactions made with your [name of card] card. We will not send you a periodic statement listing transactions that you make using your [name of card] card. The transactions will appear only on the statement issued by your bank or other financial institution. SAVE THE RECEIPTS YOU ARE GIVEN WHEN YOU USE YOUR [NAME OF CARD] CARD, AND CHECK THEM AGAINST THE ACCOUNT STATEMENT YOU RECEIVE FROM YOUR BANK OR OTHER FINANCIAL INSTITUTION. If you have any questions about one of these transactions, call or write us at [telephone number and address] [the telephone number and address indicated below]. IF YOUR [NAME OF CARD] CARD IS LOST OR STOLEN, NOTIFY US AT ONCE by calling or writing to us at [telephone number and address]. A-5--Model Forms For Government Agencies(Sec. 205.15(d)(1) and (2)) (a) Disclosure by government agencies of information about obtaining account balances and account histories (Sec. 205.15(d)(1)(i) and (ii)). You may obtain information about the amount of benefits you have remaining by calling [telephone number]. That information is also available [on the receipt you get when you make a transfer with your card at (an ATM)(a POS terminal)][when you make a balance inquiry at an ATM][when you make a balance inquiry at specified locations]. You also have the right to receive a written summary of transactions for the 60 days preceding your request by calling [telephone number]. [Optional: Or you may request the summary by contacting your caseworker.] (b) Disclosure of error resolution procedures for government agencies that do not provide periodic statements (Sec. 205.15(d)(1)(iii) and (d)(2)). In Case of Errors or Questions About Your Electronic Transfers Telephone us at [telephone number] Write us at [insert address] [or E- mail us at [insert electronic mail address]] as soon as you can, if you think an error has occurred in your [EBT][agency's name for program] account. We must hear from you no later than 60 days after you learn of the error. You will need to tell us: Your name and [case] [file] number. Why you believe there is an error, and the dollar amount involved. Approximately when the error took place. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign- initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You [[Page 132]] may ask for copies of the documents that we used in our investigation. If you need more information about our error resolution procedures, call us at [telephone number][the telephone number shown above]. A-6 Model Clauses for Authorizing One-Time Electronic Fund Transfers Using Information From a Check (Sec. 205.3(b)(2)) (a)--Notice About Electronic Check Conversion When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronic fund transfer from your account or to process the payment as a check transaction. (b)--Alternative Notice About Electronic Check Conversion (Optional) When you provide a check as payment, you authorize us to use information from your check to make a one-time electronic fund transfer from your account. In certain circumstances, such as for technical or processing reasons, we may process your payment as a check transaction. [Specify other circumstances (at payee's option).] (c)--Notice For Providing Additional Information About Electronic Check Conversion When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day [you make] [we receive] your payment[, and you will not receive your check back from your financial institution]. A-7--Model Clauses for Financial Institutions Offering Payroll Card Accounts (Sec. 205.18(c)) (a)--Disclosure by financial institutions of information about obtaining account information for payroll card accounts. Sec. 205.18(c)(1). You may obtain information about the amount of money you have remaining in your payroll card account by calling [telephone number]. This information, along with a 60-day history of account transactions, is also available on-line at [Internet address]. You also have the right to obtain a 60-day written history of account transactions by calling [telephone number], or by writing us at [address]. (b)--Disclosure of error-resolution procedures for financial institutions that provide alternative means of obtaining payroll card account information (Sec. 205.18(c)(1)(ii) and (c)(2)). In Case of Errors or Questions About Your Payroll Card Account Telephone us at [telephone number] or Write us at [address] [or E-mail us at [electronic mail address]] as soon as you can, if you think an error has occurred in your payroll card account. We must allow you to report an error until 60 days after the earlier of the date you electronically access your account, if the error could be viewed in your electronic history, or the date we sent the FIRST written history on which the error appeared. You may request a written history of your transactions at any time by calling us at [telephone number] or writing us at [address]. You will need to tell us: Your name and [payroll card account] number. Why you believe there is an error, and the dollar amount involved. Approximately when the error took place. If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign- initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. If you need more information about our error-resolution procedures, call us at [telephone number] [the telephone number shown above] [or visit [Internet address]]. A-8 Model Clause for Electronic Collection of Returned Item Fees (Sec. 205.3(b)(3)) If your payment is returned unpaid, you authorize [us/ name of person collecting the fee electronically] to make a one-time electronic fund transfer from your account to collect a fee of [$____]. [If your payment is returned unpaid, you authorize [us/ name of person collecting the fee electronically] to make a one-time electronic fund transfer from your account to collect a fee. The fee will be determined [by]/ [as follows]: [________________].] A-9 Model Consent Form for Overdraft Services (Sec. 205.17) [[Page 133]] [GRAPHIC] [TIFF OMITTED] TR17NO09.010 [Reg. E, 61 FR 19669, May 2, 1996, as amended at 63 FR 52118, Sept. 29, 1998; 66 FR 13412, Mar. 6, 2001; 66 FR 17793, Apr. 4, 2001; 71 FR 1659, Jan. 10, 2006; 71 FR 51456, Aug. 30, 2006; 71 FR 69437, Dec. 1, 2006; 72 FR 51450, Aug. 30, 2006; 74 FR 59053, Nov. 17, 2009] Sec. Appendix B to Part 205--Federal Enforcement Agencies The following list indicates which Federal agency enforces Regulation E (12 CFR part 205) for particular classes of institutions. Any questions concerning compliance by a particular institution should be directed to the appropriate enforcing agency. Terms that are not defined in the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in the International Banking Act of 1978 (12 U.S.C. 3101). [[Page 134]] National banks, and Federal branches and Federal agencies of foreign banks District office of the Office of the Comptroller of the Currency where the institution is located. State member banks, branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25(a) of the Federal Reserve Act Federal Reserve Bank serving the District in which the institution is located. Nonmember insured banks and insured state branches of foreign banks Federal Deposit Insurance Corporation regional director for the region in which the institution is located. Savings institutions insured under the Savings Association Insurance Fund of the FDIC and federally-chartered savings banks insured under the Bank Insurance Fund of the FDIC (but not including state-chartered savings banks insured under the Bank Insurance Fund) Office of Thrift Supervision Regional Director for the region in which the institution is located. Federal Credit Unions Division of Consumer Affairs, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428 Air Carriers Assistant General Counsel for Aviation Enforcement and Proceedings, Department of Transportation, 400 Seventh Street, S.W., Washington, D.C. 20590. Brokers and Dealers Division of Market Regulation, Securities and Exchange Commission, Washington, D.C. 20549. Retailers, Consumer Finance Companies, Certain Other Financial Institutions, and all others not covered above Federal Trade Commission, Electronic Fund Transfers, Washington, D.C. 20580. Sec. Appendix C to Part 205--Issuance of Staff Interpretations Official Staff Interpretations Pursuant to section 915(d) of the act, the Board has designated the director and other officials of the Division of Consumer and Community Affairs as officials ``duly authorized'' to issue, at their discretion, official staff interpretations of this part. Except in unusual circumstances, such interpretations will not be issued separately but will be incorporated in an official commentary to this part, which will be amended periodically. Requests for Issuance of Official Staff Interpretations A request for an official staff interpretation shall be in writing and addressed to the Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. The request shall contain a complete statement of all relevant facts concerning the issue, including copies of all pertinent documents. Scope of Interpretations No staff interpretations will be issued approving financial institutions' forms or statements. This restriction does not apply to forms or statements whose use is required or sanctioned by a government agency. Sec. Supplement I to Part 205--Official Staff Interpretations Section 205.2--Definitions 2(a) Access Device 1. Examples. The term access device includes debit cards, personal identification numbers (PINs), telephone transfer and telephone bill payment codes, and other means that may be used by a consumer to initiate an electronic fund transfer (EFT) to or from a consumer account. The term does not include magnetic tape or other devices used internally by a financial institution to initiate electronic transfers. 2. Checks used to capture information. The term ``access device'' does not include a check or draft used to capture the MICR (Magnetic Ink Character Recognition) encoding to initiate a one-time ACH debit. For example, if a consumer authorizes a one-time ACH debit from the consumer's account using a blank, partially completed, or fully completed and signed check for the merchant to capture the routing, account, and serial numbers to initiate the debit, the check is not an access device. (Although the check is not an access device under Regulation E, the transaction is nonetheless covered by the regulation. See comment 3(b)(1)-1.v.) 2(b) Account 1. Consumer asset account. The term consumer asset account includes: i. Club accounts, such as vacation clubs. In many cases, however, these accounts are exempt from the regulation under Sec. 205.3(c)(5) because all electronic transfers to or from the account have been preauthorized by the [[Page 135]] consumer and involve another account of the consumer at the same institution. ii. A retail repurchase agreement (repo), which is a loan made to a financial institution by a consumer that is collateralized by government or government-insured securities. 2. Certain employment-related cards not covered. The term ``payroll card account'' does not include a card used solely to disburse incentive-based payments (other than commissions which can represent the primary means through which a consumer is paid), such as bonuses, which are unlikely to be a consumer's primary source of salary or other compensation. The term also does not include a card used solely to make disbursements unrelated to compensation, such as petty cash reimbursements or travel per diem payments. Similarly, a payroll card account does not include a card that is used in isolated instances to which an employer typically does not make recurring payments, such as when providing final payments or in emergency situations when other payment methods are unavailable. However, all transactions involving the transfer of funds to or from a payroll card account are covered by the regulation, even if a particular transaction involves payment of a bonus, other incentive-based payment, or reimbursement, or the transaction does not represent a transfer of wages, salary, or other employee compensation. 3. Examples of accounts not covered by Regulation E (12 CFR part 205) include: i. Profit-sharing and pension accounts established under a trust agreement, which are exempt under Sec. 205.2(b)(2). ii. Escrow accounts, such as those established to ensure payment of items such as real estate taxes, insurance premiums, or completion of repairs or improvements. iii. Accounts for accumulating funds to purchase U.S. savings bonds. Paragraph 2(b)(2) 1. Bona fide trust agreements. The term bona fide trust agreement is not defined by the act or regulation; therefore, financial institutions must look to state or other applicable law for interpretation. 2. Custodial agreements. An account held under a custodial agreement that qualifies as a trust under the Internal Revenue Code, such as an individual retirement account, is considered to be held under a trust agreement for purposes of Regulation E. 2(d) Business Day 1. Duration. A business day includes the entire 24-hour period ending at midnight, and a notice required by the regulation is effective even if given outside normal business hours. The regulation does not require, however, that a financial institution make telephone lines available on a 24-hour basis. 2. Substantially all business functions. ``Substantially all business functions'' include both the public and the back-office operations of the institution. For example, if the offices of an institution are open on Saturdays for handling some consumer transactions (such as deposits, withdrawals, and other teller transactions), but not for performing internal functions (such as investigating account errors), then Saturday is not a business day for that institution. In this case, Saturday does not count toward the business-day standard set by the regulation for reporting lost or stolen access devices, resolving errors, etc. 3. Short hours. A financial institution may determine, at its election, whether an abbreviated day is a business day. For example, if an institution engages in substantially all business functions until noon on Saturdays instead of its usual 3:00 p.m. closing, it may consider Saturday a business day. 4. Telephone line. If a financial institution makes a telephone line available on Sundays for reporting the loss or theft of an access device, but performs no other business functions, Sunday is not a business day under the ``substantially all business functions'' standard. 2(h) Electronic Terminal 1. Point-of-sale (POS) payments initiated by telephone. Because the term electronic terminal excludes a telephone operated by a consumer, a financial institution need not provide a terminal receipt when: i. A consumer uses a debit card at a public telephone to pay for the call. ii. A consumer initiates a transfer by a means analogous in function to a telephone, such as by home banking equipment or a facsimile machine. 2. POS terminals. A POS terminal that captures data electronically, for debiting or crediting to a consumer's asset account, is an electronic terminal for purposes of Regulation E even if no access device is used to initiate the transaction. (See Sec. 205.9 for receipt requirements.) 3. Teller-operated terminals. A terminal or other computer equipment operated by an employee of a financial institution is not an electronic terminal for purposes of the regulation. However, transfers initiated at such terminals by means of a consumer's access device (using the consumer's PIN, for example) are EFTs and are subject to other requirements of the regulation. If an access device is used only for identification purposes or for determining the account balance, the transfers are not EFTs for purposes of the regulation. [[Page 136]] 2(k) Preauthorized Electronic Fund Transfer 1. Advance authorization. A ``preauthorized electronic fund transfer'' under Regulation E is one authorized by the consumer in advance of a transfer that will take place on a recurring basis, at substantially regular intervals, and will require no further action by the consumer to initiate the transfer. In a bill-payment system, for example, if the consumer authorizes a financial institution to make monthly payments to a payee by means of EFTs, and the payments take place without further action by the consumer, the payments are preauthorized EFTs. In contrast, if the consumer must take action each month to initiate a payment (such as by entering instructions on a touch-tone telephone or home computer), the payments are not preauthorized EFTs. 2(m) Unauthorized Electronic Fund Transfer 1. Transfer by institution's employee. A consumer has no liability for erroneous or fraudulent transfers initiated by an employee of a financial institution. 2. Authority. If a consumer furnishes an access device and grants authority to make transfers to a person (such as a family member or co- worker) who exceeds the authority given, the consumer is fully liable for the transfers unless the consumer has notified the financial institution that transfers by that person are no longer authorized. 3. Access device obtained through robbery or fraud. An unauthorized EFT includes a transfer initiated by a person who obtained the access device from the consumer through fraud or robbery. 4. Forced initiation. An EFT at an automated teller machine (ATM) is an unauthorized transfer if the consumer has been induced by force to initiate the transfer. 5. Reversal of direct deposits. The reversal of a direct deposit made in error is not an unauthorized EFT when it involves: i. A credit made to the wrong consumer's account; ii. A duplicate credit made to a consumer's account; or iii. A credit in the wrong amount (for example, when the amount credited to the consumer's account differs from the amount in the transmittal instructions). Section 205.3--Coverage 3(a) General 1. Accounts covered. The requirements of the regulation apply only to an account for which an agreement for EFT services to or from the account has been entered into between: i. The consumer and the financial institution (including an account for which an access device has been issued to the consumer, for example); ii. The consumer and a third party (for preauthorized debits or credits, for example), when the account-holding institution has received notice of the agreement and the fund transfers have begun. 2. Automated clearing house (ACH) membership. The fact that membership in an ACH requires a financial institution to accept EFTs to accounts at the institution does not make every account of that institution subject to the regulation. 3. Foreign applicability. Regulation E applies to all persons (including branches and other offices of foreign banks located in the United States) that offer EFT services to residents of any state, including resident aliens. It covers any account located in the United States through which EFTs are offered to a resident of a state. This is the case whether or not a particular transfer takes place in the United States and whether or not the financial institution is chartered in the United States or a foreign country. The regulation does not apply to a foreign branch of a U.S. bank unless the EFT services are offered in connection with an account in a state as defined in Sec. 205.2(l). 3(b) Electronic Fund Transfer Paragraph 3(b)(1)--Definition 1. Fund transfers covered. The term electronic fund transfer includes: i. A deposit made at an ATM or other electronic terminal (including a deposit in cash or by check) provided a specific agreement exists between the financial institution and the consumer for EFTs to or from the account to which the deposit is made. ii. A transfer sent via ACH. For example, social security benefits under the U.S. Treasury's direct-deposit program are covered, even if the listing of payees and payment amounts reaches the account-holding institution by means of a computer printout from a correspondent bank. iii. A preauthorized transfer credited or debited to an account in accordance with instructions contained on magnetic tape, even if the financial institution holding the account sends or receives a composite check. iv. A transfer from the consumer's account resulting from a debit- card transaction at a merchant location, even if no electronic terminal is involved at the time of the transaction, if the consumer's asset account is subsequently debited for the amount of the transfer. v. A transfer via ACH where a consumer has provided a check to enable the merchant or other payee to capture the routing, account, and serial numbers to initiate the transfer, whether the check is blank, partially completed, or fully completed and signed; whether the check is presented at POS or is mailed to a merchant or other payee or lockbox and later converted to an [[Page 137]] EFT; or whether the check is retained by the consumer, the merchant or other payee, or the payee's financial institution. vi. A payment made by a bill payer under a bill-payment service available to a consumer via computer or other electronic means, unless the terms of the bill-payment service explicitly state that all payments, or all payments to a particular payee or payees, will be solely by check, draft, or similar paper instrument drawn on the consumer's account, and the payee or payees that will be paid in this manner are identified to the consumer. 2. Fund transfers not covered. The term electronic fund transfer does not include: i. A payment that does not debit or credit a consumer asset account, such as a payroll allotment to a creditor to repay a credit extension (which is deducted from salary). ii. A payment made in currency by a consumer to another person at an electronic terminal. iii. A preauthorized check drawn by the financial institution on the consumer's account (such as an interest or other recurring payment to the consumer or another party), even if the check is computer-generated. iv. Transactions arising from the electronic collection, presentment, or return of checks through the check collection system, such as through transmission of electronic check images. Paragraph 3(b)(2)--Electronic Fund Transfer Using Information From a Check 1. Notice at POS not furnished due to inadvertent error. If the copy of the notice under section 205.3(b)(2)(ii) for ECK transactions is not provided to the consumer at POS because of a bona fide unintentional error, such as when a terminal printing mechanism jams, no violation results if the payee maintains procedures reasonably adapted to avoid such occurrences. 2. Authorization to process a transaction as an EFT or as a check. In order to process a transaction as an EFT or alternatively as a check, the payee must obtain the consumer's authorization to do so. A payee may, at its option, specify the circumstances under which a check may not be converted to an EFT. (See model clauses in Appendix A-6.) 3. Notice for each transfer. Generally, a notice to authorize an electronic check conversion transaction must be provided for each transaction. For example, a consumer must receive a notice that the transaction will be processed as an EFT for each transaction at POS or each time a consumer mails a check in an accounts receivable (ARC) transaction to pay a bill, such as a utility bill, if the payee intends to convert a check received as payment. Similarly, the consumer must receive notice if the payee intends to collect a service fee for insufficient or uncollected funds via an EFT for each transaction whether at POS or if the consumer mails a check to pay a bill. The notice about when funds may be debited from a consumer's account and the non-return of consumer checks by the consumer's financial institution must also be provided for each transaction. However, if in an ARC transaction, a payee provides a coupon book to a consumer, for example, for mortgage loan payments, and the payment dates and amounts are set out in the coupon book, the payee may provide a single notice on the coupon book stating all of the required disclosures under paragraph (b)(2) of this section in order to obtain authorization for each conversion of a check and any debits via EFT to the consumer's account to collect any service fees imposed by the payee for insufficient or uncollected funds in the consumer's account. The notice must be placed on a conspicuous location of the coupon book that a consumer can retain--for example, on the first page, or inside the front cover. 4. Multiple payments/multiple consumers. If a merchant or other payee will use information from a consumer's check to initiate an EFT from the consumer's account, notice to a consumer listed on the billing account that a check provided as payment during a single billing cycle or after receiving an invoice or statement will be processed as a one- time EFT or as a check transaction constitutes notice for all checks provided in payment for the billing cycle or the invoice for which notice has been provided, whether the check(s) is submitted by the consumer or someone else. The notice applies to all checks provided in payment for the billing cycle or invoice until the provision of notice on or with the next invoice or statement. Thus, if a merchant or other payee receives a check as payment for the consumer listed on the billing account after providing notice that the check will be processed as a one-time EFT, the authorization from that consumer constitutes authorization to convert any other checks provided for that invoice or statement. Other notices required under this paragraph (b)(2) (for example, to collect a service fee for insufficient or uncollected funds via an EFT) provided to the consumer listed on the billing account also constitutes notice to any other consumer who may provide a check for the billing cycle or invoice. 5. Additional disclosures about ECK transactions at POS. When a payee initiates an EFT at POS using information from the consumer's check, and returns the check to the consumer at POS, the payee need not provide a notice to the consumer that the check will not be returned by the consumer's financial institution. [[Page 138]] Paragraph 3(b)(3)--Collection of Returned Item Fees via Electronic Fund Transfer 1. Fees imposed by account-holding institution. The requirement to obtain a consumer's authorization to collect a fee via EFT for the return of an EFT or check unpaid applies only to the person that intends to initiate an EFT to collect the returned item fee from the consumer's account. The authorization requirement does not apply to any fees assessed by the consumer's account-holding financial institution when it returns the unpaid underlying EFT or check or pays the amount of an overdraft. 2. Accounts receivable transactions. In an accounts receivable (ARC) transaction where a consumer sends in a payment for amounts owed (or makes an in-person payment at a biller's physical location, such as when a consumer makes a loan payment at a bank branch or places a payment in a dropbox), a person seeking to electronically collect a fee for items returned unpaid must obtain the consumer's authorization to collect the fee in this manner. A consumer authorizes a person to electronically collect a returned item fee when the consumer receives notice, typically on an invoice or statement, that the person may collect the fee through an EFT to the consumer's account, and the consumer goes forward with the underlying transaction by providing payment. The notice must also state the dollar amount of the fee. However, an explanation of how that fee will be determined may be provided in place of the dollar amount of the fee if the fee may vary due to the amount of the transaction or due to other factors, such as the number of days the underlying transaction is left outstanding. For example, if a state law permits a maximum fee of $30 or 10% of the underlying transaction, whichever is greater, the person collecting the fee may explain how the fee is determined, rather than state a specific dollar amount for the fee. 3. Disclosure of dollar amount of fee for POS transactions. The notice provided to the consumer in connection with a POS transaction under Sec. 205.3(b)(3)(ii) must state the amount of the fee for a returned item if the dollar amount of the fee can be calculated at the time the notice is provided or mailed. For example, if notice is provided to the consumer at the time of the transaction, if the applicable state law sets a maximum fee that may be collected for a returned item based on the amount of the underlying transaction (such as where the amount of the fee is expressed as a percentage of the underlying transaction), the person collecting the fee must state the actual dollar amount of the fee on the notice provided to the consumer. Alternatively, if the amount of the fee to be collected cannot be calculated at the time of the transaction (for example, where the amount of the fee will depend on the number of days a debt continues to be owed), the person collecting the fee may provide a description of how the fee will be determined on both the posted notice as well as on the notice provided at the time of the transaction. However, if the person collecting the fee elects to send the consumer notice after the person has initiated an EFT to collect the fee, that notice must state the amount of the fee to be collected. 4. Third party providing notice. The person initiating an EFT to a consumer's account to electronically collect a fee for an item returned unpaid may obtain the authorization and provide the notices required under Sec. 205.3(b)(3) through third parties, such as merchants. 3(c) Exclusions From Coverage Paragraph 3(c)(1)--Checks 1. Re-presented checks. The electronic re-presentment of a returned check is not covered by Regulation E because the transaction originated by check. Regulation E does apply, however, to any fee debited via an EFT from a consumer's account by the payee because the check was returned for insufficient or uncollected funds. The person debiting the fee electronically must obtain the consumer's authorization. 2. Check used to capture information for a one-time EFT. See comment 3(b)(1)-1.v. Paragraph 3(c)(2)--Check Guarantee or Authorization 1. Memo posting. Under a check guarantee or check authorization service, debiting of the consumer's account occurs when the check or draft is presented for payment. These services are exempt from coverage, even when a temporary hold on the account is memo-posted electronically at the time of authorization. Paragraph 3(c)(3)--Wire or Other Similar Transfers 1. Fedwire and ACH. If a financial institution makes a fund transfer to a consumer's account after receiving funds through Fedwire or a similar network, the transfer by ACH is covered by the regulation even though the Fedwire or network transfer is exempt. 2. Article 4A. Financial institutions that offer telephone-initiated Fedwire payments are subject to the requirements of UCC section 4A-202, which encourages verification of Fedwire payment orders pursuant to a security procedure established by agreement between the consumer and the receiving bank. These transfers are not subject to Regulation E and the agreement is not considered a telephone plan if the service is offered separately from a telephone bill-payment or other prearranged plan subject to Regulation [[Page 139]] E. The Board's Regulation J (12 CFR part 210) specifies the rules applicable to funds handled by Federal Reserve Banks. To ensure that the rules for all fund transfers through Fedwire are consistent, the Board used its preemptive authority under UCC section 4A-107 to determine that subpart B of Regulation J (12 CFR part 210), including the provisions of Article 4A, applies to all fund transfers through Fedwire, even if a portion of the fund transfer is governed by the EFTA. The portion of the fund transfer that is governed by the EFTA is not governed by subpart B of Regulation J (12 CFR part 210). 3. Similar fund transfer systems. Fund transfer systems that are similar to Fedwire include the Clearing House Interbank Payments System (CHIPS), Society for Worldwide Interbank Financial Telecommunication (SWIFT), Telex, and transfers made on the books of correspondent banks. Paragraph 3(c)(4)--Securities and Commodities Transfers 1. Coverage. The securities exemption applies to securities and commodities that may be sold by a registered broker-dealer or futures commission merchant, even when the security or commodity itself is not regulated by the Securities and Exchange Commission or the Commodity Futures Trading Commission. 2. Example of exempt transfer. The exemption applies to a transfer involving a transfer initiated by a telephone order to a stockbroker to buy or sell securities or to exercise a margin call. 3. Examples of nonexempt transfers. The exemption does not apply to a transfer involving: i. A debit card or other access device that accesses a securities or commodities account such as a money market mutual fund and that the consumer uses for purchasing goods or services or for obtaining cash. ii. A payment of interest or dividends into the consumer's account (for example, from a brokerage firm or from a Federal Reserve Bank for government securities). Paragraph 3(c)(5)--Automatic Transfers by Account-Holding Institution 1. Automatic transfers exempted. The exemption applies to: i. Electronic debits or credits to consumer accounts for check charges, stop-payment charges, NSF charges, overdraft charges, provisional credits, error adjustments, and similar items that are initiated automatically on the occurrence of certain events. ii. Debits to consumer accounts for group insurance available only through the financial institution and payable only by means of an aggregate payment from the institution to the insurer. iii. EFTs between a thrift institution and its paired commercial bank in the state of Rhode Island, which are deemed under state law to be intra-institutional. iv. Automatic transfers between a consumer's accounts within the same financial institution, even if the account holders on the two accounts are not identical. 2. Automatic transfers not exempted. Transfers between accounts of the consumer at affiliated institutions (such as between a bank and its subsidiary or within a holding company) are not intra-institutional transfers, and thus do not qualify for the exemption. Paragraph 3(c)(6)--Telephone-Initiated Transfers 1. Written plan or agreement. A transfer that the consumer initiates by telephone is covered by Regulation E if the transfer is made under a written plan or agreement between the consumer and the financial institution making the transfer. A written statement available to the public or to account holders that describes a service allowing a consumer to initiate transfers by telephone constitutes a plan--for example, a brochure, or material included with periodic statements. The following, however, do not by themselves constitute a written plan or agreement: i. A hold-harmless agreement on a signature card that protects the institution if the consumer requests a transfer. ii. A legend on a signature card, periodic statement, or passbook that limits the number of telephone-initiated transfers the consumer can make from a savings account because of reserve requirements under Regulation D (12 CFR part 204). iii. An agreement permitting the consumer to approve by telephone the rollover of funds at the maturity of an instrument. 2. Examples of covered transfers. When a written plan or agreement has been entered into, a transfer initiated by a telephone call from a consumer is covered even though: i. An employee of the financial institution completes the transfer manually (for example, by means of a debit memo or deposit slip). ii. The consumer is required to make a separate request for each transfer. iii. The consumer uses the plan infrequently. iv. The consumer initiates the transfer via a facsimile machine. v. The consumer initiates the transfer using a financial institution's audio-response or voice-response telephone system. Paragraph 3(c)(7)--Small Institutions 1. Coverage. This exemption is limited to preauthorized transfers; institutions that offer other EFTs must comply with the applicable sections of the regulation as to such services. The preauthorized transfers remain [[Page 140]] subject to sections 913, 915, and 916 of the act and Sec. 205.10(e), and are therefore exempt from UCC Article 4A. Section 205.4--General Disclosure Requirements; Jointly Offered Services 4(a) Form of Disclosures 1. General. Although no particular rules govern type size, number of pages, or the relative conspicuousness of various terms, the disclosures must be in a clear and readily understandable written form that the consumer may retain. Numbers or codes are considered readily understandable if explained elsewhere on the disclosure form. 2. Foreign language disclosures. Disclosures may be made in languages other than English, provided they are available in English upon request. Section 205.5--Issuance of Access Devices 1. Coverage. The provisions of this section limit the circumstances under which a financial institution may issue an access device to a consumer. Making an additional account accessible through an existing access device is equivalent to issuing an access device and is subject to the limitations of this section. 5(a) Solicited Issuance Paragraph 5(a)(1) 1. Joint account. For a joint account, a financial institution may issue an access device to each account holder if the requesting holder specifically authorizes the issuance. 2. Permissible forms of request. The request for an access device may be written or oral (for example, in response to a telephone solicitation by a card issuer). Paragraph 5(a)(2) 1. One-for-one rule. In issuing a renewal or substitute access device, only one renewal or substitute device may replace a previously issued device. For example, only one new card and PIN may replace a card and PIN previously issued. A financial institution may provide additional devices at the time it issues the renewal or substitute access device, however, provided the institution complies with Sec. 205.5(b). (See comment 5(b)-5.) If the replacement device or the additional device permits either fewer or additional types of electronic fund transfer services, a change-in-terms notice or new disclosures are required. 2. Renewal or substitution by a successor institution. A successor institution is an entity that replaces the original financial institution (for example, following a corporate merger or acquisition) or that acquires accounts or assumes the operation of an EFT system. 5(b) Unsolicited Issuance 1. Compliance. A financial institution may issue an unsolicited access device (such as the combination of a debit card and PIN) if the institution's ATM system has been programmed not to accept the access device until after the consumer requests and the institution validates the device. Merely instructing a consumer not to use an unsolicited debit card and PIN until after the institution verifies the consumer's identity does not comply with the regulation. 2. PINS. A financial institution may impose no liability on a consumer for unauthorized transfers involving an unsolicited access device until the device becomes an ``accepted access device'' under the regulation. A card and PIN combination may be treated as an accepted access device once the consumer has used it to make a transfer. 3. Functions of PIN. If an institution issues a PIN at the consumer's request, the issuance may constitute both a way of validating the debit card and the means to identify the consumer (required as a condition of imposing liability for unauthorized transfers). 4. Verification of identity. To verify the consumer's identity, a financial institution may use any reasonable means, such as a photograph, fingerprint, personal visit, signature comparison, or personal information about the consumer. However, even if reasonable means were used, if an institution fails to verify correctly the consumer's identity and an imposter succeeds in having the device validated, the consumer is not liable for any unauthorized transfers from the account. 5. Additional access devices in a renewal or substitution. A financial institution may issue more than one access device in connection with the renewal or substitution of a previously issued accepted access device, provided that any additional access device (beyond the device replacing the accepted access device) is not validated at the time it is issued, and the institution complies with the other requirements of Sec. 205.5(b). The institution may, if it chooses, set up the validation procedure such that both the device replacing the previously issued device and the additional device are not validated at the time they are issued, and validation will apply to both devices. If the institution sets up the validation procedure in this way, the institution should provide a clear and readily understandable disclosure to the consumer that both devices are unvalidated and that validation will apply to both devices. Section 205.6--Liability of Consumer for Unauthorized Transfers 6(a) Conditions for Liability 1. Means of identification. A financial institution may use various means for identifying [[Page 141]] the consumer to whom the access device is issued, including but not limited to: i. Electronic or mechanical confirmation (such as a PIN). ii. Comparison of the consumer's signature, fingerprint, or photograph. 2. Multiple users. When more than one access device is issued for an account, the financial institution may, but need not, provide a separate means to identify each user of the account. 6(b) Limitations on Amount of Liability 1. Application of liability provisions. There are three possible tiers of consumer liability for unauthorized EFTs depending on the situation. A consumer may be liable for (1) up to $50; (2) up to $500; or (3) an unlimited amount depending on when the unauthorized EFT occurs. More than one tier may apply to a given situation because each corresponds to a different (sometimes overlapping) time period or set of conditions. 2. Consumer negligence. Negligence by the consumer cannot be used as the basis for imposing greater liability than is permissible under Regulation E. Thus, consumer behavior that may constitute negligence under state law, such as writing the PIN on a debit card or on a piece of paper kept with the card, does not affect the consumer's liability for unauthorized transfers. (However, refer to comment 2(m)-2 regarding termination of the authority of given by the consumer to another person.) 3. Limits on liability. The extent of the consumer's liability is determined solely by the consumer's promptness in reporting the loss or theft of an access device. Similarly, no agreement between the consumer and an institution may impose greater liability on the consumer for an unauthorized transfer than the limits provided in Regulation E. Paragraph 6(b)(1)--Timely Notice Given 1. $50 limit applies. The basic liability limit is $50. For example, the consumer's card is lost or stolen on Monday and the consumer learns of the loss or theft on Wednesday. If the consumer notifies the financial institution within two business days of learning of the loss or theft (by midnight Friday), the consumer's liability is limited to $50 or the amount of the unauthorized transfers that occurred before notification, whichever is less. 2. Knowledge of loss or theft of access device. The fact that a consumer has received a periodic statement that reflects unauthorized transfers may be a factor in determining whether the consumer had knowledge of the loss or theft, but cannot be deemed to represent conclusive evidence that the consumer had such knowledge. 3. Two-business-day rule. The two-business-day period does not include the day the consumer learns of the loss or theft or any day that is not a business day. The rule is calculated based on two 24-hour periods, without regard to the financial institution's business hours or the time of day that the consumer learns of the loss or theft. For example, a consumer learns of the loss or theft at 6 p.m. on Friday. Assuming that Saturday is a business day and Sunday is not, the two- business-day period begins on Saturday and expires at 11:59 p.m. on Monday, not at the end of the financial institution's business day on Monday. Paragraph 6(b)(2)--Timely Notice Not Given 1. $500 limit applies. The second tier of liability is $500. For example, the consumer's card is stolen on Monday and the consumer learns of the theft that same day. The consumer reports the theft on Friday. The $500 limit applies because the consumer failed to notify the financial institution within two business days of learning of the theft (which would have been by midnight Wednesday). How much the consumer is actually liable for, however, depends on when the unauthorized transfers take place. In this example, assume a $100 unauthorized transfer was made on Tuesday and a $600 unauthorized transfer on Thursday. Because the consumer is liable for the amount of the loss that occurs within the first two business days (but no more than $50), plus the amount of the unauthorized transfers that occurs after the first two business days and before the consumer gives notice, the consumer's total liability is $500 ($50 of the $100 transfer plus $450 of the $600 transfer, in this example). But if $600 was taken on Tuesday and $100 on Thursday, the consumer's maximum liability would be $150 ($50 of the $600 plus $100). Paragraph 6(b)(3)--Periodic Statement; Timely Notice Not Given 1. Unlimited liability applies. The standard of unlimited liability applies if unauthorized transfers appear on a periodic statement, and may apply in conjunction with the first two tiers of liability. If a periodic statement shows an unauthorized transfer made with a lost or stolen debit card, the consumer must notify the financial institution within 60 calendar days after the periodic statement was sent; otherwise, the consumer faces unlimited liability for all unauthorized transfers made after the 60-day period. The consumer's liability for unauthorized transfers before the statement is sent, and up to 60 days following, is determined based on the first two tiers of liability: up to $50 if the consumer notifies the financial institution within two business days of learning of the loss or theft of the card and up to $500 if the consumer notifies the institution after two business days of learning of the loss or theft. [[Page 142]] 2. Transfers not involving access device. The first two tiers of liability do not apply to unauthorized transfers from a consumer's account made without an access device. If, however, the consumer fails to report such unauthorized transfers within 60 calendar days of the financial institution's transmittal of the periodic statement, the consumer may be liable for any transfers occurring after the close of the 60 days and before notice is given to the institution. For example, a consumer's account is electronically debited for $200 without the consumer's authorization and by means other than the consumer's access device. If the consumer notifies the institution within 60 days of the transmittal of the periodic statement that shows the unauthorized transfer, the consumer has no liability. However, if in addition to the $200, the consumer's account is debited for a $400 unauthorized transfer on the 61st day and the consumer fails to notify the institution of the first unauthorized transfer until the 62nd day, the consumer may be liable for the full $400. Paragraph 6(b)(4)--Extension of Time Limits 1. Extenuating circumstances. Examples of circumstances that require extension of the notification periods under this section include the consumer's extended travel or hospitalization. Paragraph 6(b)(5)--Notice to Financial Institution 1. Receipt of notice. A financial institution is considered to have received notice for purposes of limiting the consumer's liability if notice is given in a reasonable manner, even if the consumer notifies the institution but uses an address or telephone number other than the one specified by the institution. 2. Notice by third party. Notice to a financial institution by a person acting on the consumer's behalf is considered valid under this section. For example, if a consumer is hospitalized and unable to report the loss or theft of an access device, notice is considered given when someone acting on the consumer's behalf notifies the bank of the loss or theft. A financial institution may require appropriate documentation from the person representing the consumer to establish that the person is acting on the consumer's behalf. 3. Content of notice. Notice to a financial institution is considered given when a consumer takes reasonable steps to provide the institution with the pertinent account information. Even when the consumer is unable to provide the account number or the card number in reporting a lost or stolen access device or an unauthorized transfer, the notice effectively limits the consumer's liability if the consumer otherwise identifies sufficiently the account in question. For example, the consumer may identify the account by the name on the account and the type of account in question. Section 205.7--Initial Disclosures 7(a) Timing of Disclosures 1. Early disclosures. Disclosures given by a financial institution earlier than the regulation requires (for example, when the consumer opens a checking account) need not be repeated when the consumer later enters into an agreement with a third party to initiate preauthorized transfers to or from the consumer's account, unless the terms and conditions differ from those that the institution previously disclosed. This interpretation also applies to any notice provided about one-time EFTs from a consumer's account initiated using information from the consumer's check. On the other hand, if an agreement for EFT services to be provided by an account-holding institution is directly between the consumer and the account-holding institution, disclosures must be given in close proximity to the event requiring disclosure, for example, when the consumer contracts for a new service. 2. Lack of advance notice of a transfer. Where a consumer authorizes a third party to debit or credit the consumer's account, an account- holding institution that has not received advance notice of the transfer or transfers must provide the required disclosures as soon as reasonably possible after the first debit or credit is made, unless the institution has previously given the disclosures. 3. Addition of new accounts. If a consumer opens a new account permitting EFTs at a financial institution, and the consumer already has received Regulation E disclosures for another account at that institution, the institution need only disclose terms and conditions that differ from those previously given. 4. Addition of service in interchange systems. If a financial institution joins an interchange or shared network system (which provides access to terminals operated by other institutions), disclosures are required for additional EFT services not previously available to consumers if the terms and conditions differ from those previously disclosed. 5. Disclosures covering all EFT services offered. An institution may provide disclosures covering all EFT services that it offers, even if some consumers have not arranged to use all services. 7(b) Content of Disclosures Paragraph 7(b)(1)--Liability of Consumer 1. No liability imposed by financial institution. If a financial institution chooses to impose zero liability for unauthorized EFTs, it need not provide the liability disclosures. If [[Page 143]] the institution later decides to impose liability, however, it must first provide the disclosures. 2. Preauthorized transfers. If the only EFTs from an account are preauthorized transfers, liability could arise if the consumer fails to report unauthorized transfers reflected on a periodic statement. To impose such liability on the consumer, the institution must have disclosed the potential liability and the telephone number and address for reporting unauthorized transfers. 3. Additional information. At the institution's option, the summary of the consumer's liability may include advice on promptly reporting unauthorized transfers or the loss or theft of the access device. Paragraph 7(b)(2)--Telephone Number and Address 1. Disclosure of telephone numbers. An institution may use the same or different telephone numbers in the disclosures for the purpose of: i. Reporting the loss or theft of an access device or possible unauthorized transfers; ii. Inquiring about the receipt of a preauthorized credit; iii. Stopping payment of a preauthorized debit; iv. Giving notice of an error. 2. Location of telephone number. The telephone number need not be incorporated into the text of the disclosure; for example, the institution may instead insert a reference to a telephone number that is readily available to the consumer, such as ``Call your branch office. The number is shown on your periodic statement.'' However, an institution must provide a specific telephone number and address, on or with the disclosure statement, for reporting a lost or stolen access device or a possible unauthorized transfer. Paragraph 7(b)(4)--Types of Transfers; Limitations 1. Security limitations. Information about limitations on the frequency and dollar amount of transfers generally must be disclosed in detail, even if related to security aspects of the system. If the confidentiality of certain details is essential to the security of an account or system, these details may be withheld (but the fact that limitations exist must still be disclosed). For example, an institution limits cash ATM withdrawals to $100 per day. The institution may disclose that daily withdrawal limitations apply and need not disclose that the limitations may not always be in force (such as during periods when its ATMs are off-line). 2. Restrictions on certain deposit accounts. A limitation on account activity that restricts the consumer's ability to make EFTs must be disclosed even if the restriction also applies to transfers made by nonelectronic means. For example, Regulation D (12 CFR Part 204) restricts the number of payments to third parties that may be made from a money market deposit account; an institution that does not execute fund transfers in excess of those limits must disclose the restriction as a limitation on the frequency of EFTs. 3. Preauthorized transfers. Financial institutions are not required to list preauthorized transfers among the types of transfers that a consumer can make. 4. One-time EFTs initiated using information from a check. Financial institutions must disclose the fact that one-time EFTs initiated using information from a consumer's check are among the types of transfers that a consumer can make. (See Appendix A-2.) Paragraph 7(b)(5)--Fees 1. Disclosure of EFT fees. An institution is required to disclose all fees for EFTs or the right to make them. Others fees (for example, minimum-balance fees, stop-payment fees, or account overdrafts) may, but need not, be disclosed (but see Regulation DD, 12 CFR Part 230. An institution is not required to disclose fees for inquiries made at an ATM since no transfer of funds is involved. 2. Fees also applicable to non-EFT. A per-item fee for EFTs must be disclosed even if the same fee is imposed on nonelectronic transfers. If a per-item fee is imposed only under certain conditions, such as when the transactions in the cycle exceed a certain number, those conditions must be disclosed. Itemization of the various fees may be provided on the disclosure statement or on an accompanying document that is referenced in the statement. 3. Interchange system fees. Fees paid by the account-holding institution to the operator of a shared or interchange ATM system need not be disclosed, unless they are imposed on the consumer by the account-holding institution. Fees for use of an ATM that are debited directly from the consumer's account by an institution other than the account-holding institution (for example, fees included in the transfer amount) need not be disclosed. (See Sec. 205.7(b)(11) for the general notice requirement regarding fees that may be imposed by ATM operators and by a network used to complete the transfer.) Paragraph 7(b)(9)--Confidentiality 1. Information provided to third parties. An institution must describe the circumstances under which any information relating to an account to or from which EFTs are permitted will be made available to third parties, not just information concerning those EFTs. The term ``third parties'' includes affiliates such as other subsidiaries of the same holding company. [[Page 144]] Paragraph 7(b)(10)--Error Resolution 1. Substantially similar. The error resolution notice must be substantially similar to the model form in appendix A of part 205. An institution may use different wording so long as the substance of the notice remains the same, may delete inapplicable provisions (for example, the requirement for written confirmation of an oral notification), and may substitute substantive state law requirements affording greater consumer protection than Regulation E. 2. Extended time-period for certain transactions. To take advantage of the longer time periods for resolving errors under Sec. 205.11(c)(3) (for new accounts as defined in Regulation CC (12 CFR part 229), transfers initiated outside the United States, or transfers resulting from POS debit-card transactions), a financial institution must have disclosed these longer time periods. Similarly, an institution that relies on the exception from provisional crediting in Sec. 205.11(c)(2) for accounts subject to Regulation T (12 CFR part 220) must have disclosed accordingly. 7(c) Addition of Electronic Fund Transfer Services 1. Addition of electronic check conversion services. One-time EFTs initiated using information from a consumer's check are a new type of transfer requiring new disclosures, as applicable. (See Appendix A-2.) Section 205.8--Change-in-Terms Notice; Error Resolution Notice 8(a) Change-in-Terms Notice 1. Form of notice. No specific form or wording is required for a change-in-terms notice. The notice may appear on a periodic statement, or may be given by sending a copy of a revised disclosure statement, provided attention is directed to the change (for example, in a cover letter referencing the changed term). 2. Changes not requiring notice. The following changes do not require disclosure: i. Closing some of an institution's ATMs; ii. Cancellation of an access device. 3. Limitations on transfers. When the initial disclosures omit details about limitations because secrecy is essential to the security of the account or system, a subsequent increase in those limitations need not be disclosed if secrecy is still essential. If, however, an institution had no limits in place when the initial disclosures were given and now wishes to impose limits for the first time, it must disclose at least the fact that limits have been adopted. (See also Sec. 205.7(b)(4) and the related commentary.) 4. Change in telephone number or address. When a financial institution changes the telephone number or address used for reporting possible unauthorized transfers, a change-in-terms notice is required only if the institution will impose liability on the consumer for unauthorized transfers under Sec. 205.6. (See also Sec. 205.6(a) and the related commentary.) 8(b) Error Resolution Notice 1. Change between annual and periodic notice. If an institution switches from an annual to a periodic notice, or vice versa, the first notice under the new method must be sent no later than 12 months after the last notice sent under the old method. 2. Exception for new accounts. For new accounts, disclosure of the longer error resolution time periods under Sec. 205.11(c)(3) is not required in the annual error resolution notice or in the notice that may be provided with each periodic statement as an alternative to the annual notice. Section 205.9--Receipts at Electronic Terminals; Periodic Statements 9(a) Receipts at Electronic Terminals 1. Receipts furnished only on request. The regulation requires that a receipt be ``made available.'' A financial institution may program its electronic terminals to provide a receipt only to consumers who elect to receive one. 2. Third party providing receipt. An account-holding institution may make terminal receipts available through third parties such as merchants or other financial institutions. 3. Inclusion of promotional material. A financial institution may include promotional material on receipts if the required information is set forth clearly (for example, by separating it from the promotional material). In addition, a consumer may not be required to surrender the receipt or that portion containing the required disclosures in order to take advantage of a promotion. 4. Transfer not completed. The receipt requirement does not apply to a transfer that is initiated but not completed (for example, if the ATM is out of currency or the consumer decides not to complete the transfer). 5. Receipts not furnished due to inadvertent error. If a receipt is not provided to the consumer because of a bona fide unintentional error, such as when a terminal runs out of paper or the mechanism jams, no violation results if the financial institution maintains procedures reasonably adapted to avoid such occurrences. 6. Multiple transfers. If the consumer makes multiple transfers at the same time, the financial institution may document them on a single or on separate receipts. Paragraph 9(a)(1)--Amount 1. Disclosure of transaction fee. The required display of a fee amount on or at the terminal [[Page 145]] may be accomplished by displaying the fee on a sign at the terminal or on the terminal screen for a reasonable duration. Displaying the fee on a screen provides adequate notice, as long as a consumer is given the option to cancel the transaction after receiving notice of a fee. (See Sec. 205.16 for the notice requirements applicable to ATM operators that impose a fee for providing EFT services.) 2. Relationship between Sec. 205.9(a)(1) and Sec. 205.16. The requirements of Sec. Sec. 205.9(a)(1) and 205.16 are similar but not identical. i. Section 205.9(a)(1) requires that if the amount of the transfer as shown on the receipt will include the fee, then the fee must be disclosed either on a sign on or at the terminal, or on the terminal screen. Section 205.16 requires disclosure both on a sign on or at the terminal (in a prominent and conspicuous location) and on the terminal screen. Section 205.16 permits disclosure on a paper notice as an alternative to the on-screen disclosure. ii. The disclosure of the fee on the receipt under Sec. 205.9(a)(1) cannot be used to comply with the alternative paper disclosure procedure under Sec. 205.16, if the receipt is provided at the completion of the transaction because, pursuant to the statute, the paper notice must be provided before the consumer is committed to paying the fee. iii. Section 205.9(a)(1) applies to any type of electronic terminal as defined in Regulation E (for example, to POS terminals as well as to ATMs), while Sec. 205.16 applies only to ATMs. Paragraph 9(a)(2)--Date 1. Calendar date. The receipt must disclose the calendar date on which the consumer uses the electronic terminal. An accounting or business date may be disclosed in addition if the dates are clearly distinguished. Paragraph 9(a)(3)--Type 1. Identifying transfer and account. Examples identifying the type of transfer and the type of the consumer's account include ``withdrawal from checking,'' ``transfer from savings to checking,'' or ``payment from savings.'' 2. Exception. Identification of an account is not required when the consumer can access only one asset account at a particular time or terminal, even if the access device can normally be used to access more than one account. For example, the consumer may be able to access only one particular account at terminals not operated by the account-holding institution, or may be able to access only one particular account when the terminal is off-line. The exception is available even if, in addition to accessing one asset account, the consumer also can access a credit line. 3. Access to multiple accounts. If the consumer can use an access device to make transfers to or from different accounts of the same type, the terminal receipt must specify which account was accessed, such as ``withdrawal from checking I'' or ``withdrawal from checking II.'' If only one account besides the primary checking account can be debited, the receipt can identify the account as ``withdrawal from other account.'' 4. Generic descriptions. Generic descriptions may be used for accounts that are similar in function, such as share draft or NOW accounts and checking accounts. In a shared system, for example, when a credit union member initiates transfers to or from a share draft account at a terminal owned or operated by a bank, the receipt may identify a withdrawal from the account as a ``withdrawal from checking.'' 5. Point-of-sale transactions. There is no prescribed terminology for identifying a transfer at a merchant's POS terminal. A transfer may be identified, for example, as a purchase, a sale of goods or services, or a payment to a third party. When a consumer obtains cash from a POS terminal in addition to purchasing goods, or obtains cash only, the documentation need not differentiate the transaction from one involving the purchase of goods. Paragraph 9(a)(5)--Terminal Location 1. Options for identifying terminal. The institution may provide either: i. The city, state or foreign country, and the information in Sec. Sec. 205.9(a)(5) (i), (ii), or (iii), or ii. A number or a code identifying the terminal. If the institution chooses the second option, the code or terminal number identifying the terminal where the transfer is initiated may be given as part of a transaction code. 2. Omission of city name. The city may be omitted if the generally accepted name (such as a branch name) contains the city name. 3. Omission of a state. A state may be omitted from the location information on the receipt if: i. All the terminals owned or operated by the financial institution providing the statement (or by the system in which it participates) are located in that state, or ii. All transfers occur at terminals located within 50 miles of the financial institutions's main office. 4. Omission of a city and state. A city and state may be omitted if all the terminals owned or operated by the financial institution providing the statement (or by the system in which it participates) are located in the same city. Paragraph 9(a)(5)(i) 1. Street address. The address should include number and street (or intersection); the [[Page 146]] number (or intersecting street) may be omitted if the street alone uniquely identifies the terminal location. Paragraph 9(a)(5)(ii) 1. Generally accepted name. Examples of a generally accepted name for a specific location include a branch of the financial institution, a shopping center, or an airport. Paragraph 9(a)(5)(iii) 1. Name of owner or operator of terminal. Examples of an owner or operator of a terminal are a financial institution or a retail merchant. Paragraph 9(a)(6)--Third Party Transfer 1. Omission of third-party name. The receipt need not disclose the third-party name if the name is provided by the consumer in a form that is not machine readable (for example, if the consumer indicates the payee by depositing a payment stub into the ATM). If, on the other hand, the consumer keys in the identity of the payee, the receipt must identify the payee by name or by using a code that is explained elsewhere on the receipt. 2. Receipt as proof of payment. Documentation required under the regulation constitutes prima facie proof of a payment to another person, except in the case of a terminal receipt documenting a deposit. 9(b) Periodic Statements 1. Periodic cycles. Periodic statements may be sent on a cycle that is shorter than monthly. The statements must correspond to periodic cycles that are reasonably equal, that is, do not vary by more than four days from the regular cycle. The requirement of reasonably equal cycles does not apply when an institution changes cycles for operational or other reasons, such as to establish a new statement day or date. 2. Interim statements. Generally, a financial institution must provide periodic statements for each monthly cycle in which an EFT occurs, and at least quarterly if a transfer has not occurred. Where EFTs occur between regularly-scheduled cycles, interim statements must be provided. For example, if an institution issues quarterly statements at the end of March, June, September and December, and the consumer initiates an EFT in February, an interim statement for February must be provided. If an interim statement contains interest or rate information, the institution must comply with Regulation DD, 12 CFR 230.6. 3. Inactive accounts. A financial institution need not send statements to consumers whose accounts are inactive as defined by the institution. 4. Statement pickup. A financial institution may permit, but may not require, consumers to pick up their periodic statements at the financial institution. 5. Periodic statements limited to EFT activity. A financial institution that uses a passbook as the primary means for displaying account activity, but also allows the account to be debited electronically, may provide a periodic statement requirement that reflects only the EFTs and other required disclosures (such as charges, account balances, and address and telephone number for inquiries). (See Sec. 205.9(c)(1)(i) for the exception applicable to preauthorized transfers for passbook accounts.) 6. Codes and accompanying documents. To meet the documentation requirements for periodic statements, a financial institution may: i. Include copies of terminal receipts to reflect transfers initiated by the consumer at electronic terminals; ii. Enclose posting memos, deposit slips, and other documents that, together with the statement, disclose all the required information; iii. Use codes for names of third parties or terminal locations and explain the information to which the codes relate on an accompanying document. Paragraph 9(b)(1)--Transaction Information 1. Information obtained from others. While financial institutions must maintain reasonable procedures to ensure the integrity of data obtained from another institution, a merchant, or other third parties, verification of each transfer that appears on the periodic statement is not required. Paragraph 9(b)(1)(i) 1. Incorrect deposit amount. If a financial institution determines that the amount actually deposited at an ATM is different from the amount entered by the consumer, the institution need not immediately notify the consumer of the discrepancy. The periodic statement reflecting the deposit may show either the correct amount of the deposit or the amount entered by the consumer along with the institution's adjustment. Paragraph 9(b)(1)(iii) 1. Type of transfer. There is no prescribed terminology for describing a type of transfer. Placement of the amount of the transfer in the debit or the credit column is sufficient if other information on the statement, such as a terminal location or third-party name, enables the consumer to identify the type of transfer. Paragraph 9(b)(1)(iv) 1. Nonproprietary terminal in network. An institution need not reflect on the periodic statement the street addresses, identification codes, or terminal numbers for transfers [[Page 147]] initiated in a shared or interchange system at a terminal operated by an institution other than the account-holding institution. The statement must, however, specify the entity that owns or operates the terminal, plus the city and state. Paragraph 9(b)(1)(v) 1. Recurring payments by government agency. The third-party name for recurring payments from federal, state, or local governments need not list the particular agency. For example, ``U.S. gov't'' or ``N.Y. sal'' will suffice. 2. Consumer as third-party payee. If a consumer makes an electronic fund transfer to another consumer, the financial institution must identify the recipient by name (not just by an account number, for example). 3. Terminal location/third party. A single entry may be used to identify both the terminal location and the name of the third party to or from whom funds are transferred. For example, if a consumer purchases goods from a merchant, the name of the party to whom funds are transferred (the merchant) and the location of the terminal where the transfer is initiated will be satisfied by a disclosure such as ``XYZ Store, Anytown, Ohio.'' 4. Account-holding institution as third party. Transfers to the account-holding institution (by ATM, for example) must show the institution as the recipient, unless other information on the statement (such as, ``loan payment from checking'') clearly indicates that the payment was to the account-holding institution. 5. Consistency in third-party identity. The periodic statement must disclose a third-party name as it appeared on the receipt, whether it was, for example, the ``dba'' (doing business as) name of the third party or the parent corporation's name. 6. Third-party identity on deposits at electronic terminal. A financial institution need not identify third parties whose names appear on checks, drafts, or similar paper instruments deposited to the consumer's account at an electronic terminal. Paragraph 9(b)(3)--Fees 1. Disclosure of fees. The fees disclosed may include fees for EFTs and for other nonelectronic services, and both fixed fees and per-item fees; they may be given as a total or may be itemized in part or in full. 2. Fees in interchange system. An account-holding institution must disclose any fees it imposes on the consumer for EFTs, including fees for ATM transactions in an interchange or shared ATM system. Fees for use of an ATM imposed on the consumer by an institution other than the account-holding institution and included in the amount of the transfer by the terminal-operating institution need not be separately disclosed on the periodic statement. 3. Finance charges. The requirement to disclose any fees assessed against the account does not include a finance charge imposed on the account during the statement period. Paragraph 9(b)(4)--Account Balances 1. Opening and closing balances. The opening and closing balances must reflect both EFTs and other account activity. Paragraph 9(b)(5)--Address and Telephone Number for Inquiries 1. Telephone number. A single telephone number, preceded by the ``direct inquiries to'' language, will satisfy the requirements of Sec. 205.9(b)(5) and (6). Paragraph 9(b)(6)--Telephone Number for Preauthorized Transfers 1. Telephone number. See comment 9(b)(5)-1. 9(c) Exceptions to the Periodic Statement Requirements for Certain Accounts 1. Transfers between accounts. The regulation provides an exception from the periodic statement requirement for certain intra-institutional transfers between a consumer's accounts. The financial institution must still comply with the applicable periodic statement requirements for any other EFTs to or from the account. For example, a Regulation E statement must be provided quarterly for an account that also receives payroll deposits electronically, or for any month in which an account is also accessed by a withdrawal at an ATM. Paragraph 9(c)(1)--Preauthorized Transfers to Accounts 1. Accounts that may be accessed only by preauthorized transfers to the account. The exception for ``accounts that may be accessed only by preauthorized transfers to the account'' includes accounts that can be accessed by means other than EFTs, such as checks. If, however, an account may be accessed by any EFT other than preauthorized credits to the account, such as preauthorized debits or ATM transactions, the account does not qualify for the exception. 2. Reversal of direct deposits. For direct-deposit-only accounts, a financial institution must send a periodic statement at least quarterly. A reversal of a direct deposit to correct an error does not trigger the monthly statement requirement when the error represented a credit to the wrong consumer's account, a duplicate credit, or a credit in the wrong amount. (See also comment 2(m)-5.) [[Page 148]] 9(d) Documentation for Foreign-Initiated Transfers 1. Foreign-initiated transfers. An institution must make a good faith effort to provide all required information for foreign-initiated transfers. For example, even if the institution is not able to provide a specific terminal location, it should identify the country and city in which the transfer was initiated. Section 205.10--Preauthorized Transfers 10(a) Preauthorized Transfers to Consumer's Account Paragraph 10(a)(1)--Notice by Financial Institution 1. Content. No specific language is required for notice regarding receipt of a preauthorized transfer. Identifying the deposit is sufficient; however, simply providing the current account balance is not. 2. Notice of credit. A financial institution may use different methods of notice for various types or series of preauthorized transfers, and the institution need not offer consumers a choice of notice methods. 3. Positive notice. A periodic statement sent within two business days of the scheduled transfer, showing the transfer, can serve as notice of receipt. 4. Negative notice. The absence of a deposit entry (on a periodic statement sent within two business days of the scheduled transfer date) will serve as negative notice. 5. Telephone notice. If a financial institution uses the telephone notice option, it should be able in most instances to verify during a consumer's initial call whether a transfer was received. The institution must respond within two business days to any inquiry not answered immediately. 6. Phone number for passbook accounts. The financial institution may use any reasonable means necessary to provide the telephone number to consumers with passbook accounts that can only be accessed by preauthorized credits and that do not receive periodic statements. For example, it may print the telephone number in the passbook, or include the number with the annual error resolution notice. 7. Telephone line availability. To satisfy the readily-available standard, the financial institution must provide enough telephone lines so that consumers get a reasonably prompt response. The institution need only provide telephone service during normal business hours. Within its primary service area, an institution must provide a local or toll-free telephone number. It need not provide a toll-free number or accept collect long-distance calls from outside the area where it normally conducts business. 10(b) Written Authorization for Preauthorized Transfers From Consumer's Account 1. Preexisting authorizations. The financial institution need not require a new authorization before changing from paper-based to electronic debiting when the existing authorization does not specify that debiting is to occur electronically or specifies that the debiting will occur by paper means. A new authorization also is not required when a successor institution begins collecting payments. 2. Authorization obtained by third party. The account-holding financial institution does not violate the regulation when a third-party payee fails to obtain the authorization in writing or fails to give a copy to the consumer; rather, it is the third-party payee that is in violation of the regulation. 3. Written authorization for preauthorized transfers. The requirement that preauthorized EFTs be authorized by the consumer ``only by a writing'' cannot be met by a payee's signing a written authorization on the consumer's behalf with only an oral authorization from the consumer. 4. Use of a confirmation form. A financial institution or designated payee may comply with the requirements of this section in various ways. For example, a payee may provide the consumer with two copies of a preauthorization form, and ask the consumer to sign and return one and to retain the second copy. 5. Similarly authenticated. The similarly authenticated standard permits signed, written authorizations to be provided electronically. The writing and signature requirements of this section are satisfied by complying with the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., which defines electronic records and electronic signatures. Examples of electronic signatures include, but are not limited to, digital signatures and security codes. A security code need not originate with the account-holding institution. The authorization process should evidence the consumer's identity and assent to the authorization. The person that obtains the authorization must provide a copy of the terms of the authorization to the consumer either electronically or in paper form. Only the consumer may authorize the transfer and not, for example, a third-party merchant on behalf of the consumer. 6. Requirements of an authorization. An authorization is valid if it is readily identifiable as such and the terms of the preauthorized transfer are clear and readily understandable. 7. Bona fide error. Consumers sometimes authorize third-party payees, by telephone or on-line, to submit recurring charges against a credit card account. If the consumer indicates use of a credit card account [[Page 149]] when in fact a debit card is being used, the payee does not violate the requirement to obtain a written authorization if the failure to obtain written authorization was not intentional and resulted from a bona fide error, and if the payee maintains procedures reasonably adapted to avoid any such error. Procedures reasonably adapted to avoid error will depend upon the circumstances. Generally, requesting the consumer to specify whether the card to be used for the authorization is a debit (or check) card or a credit card is a reasonable procedure. Where the consumer has indicated that the card is a credit card (or that the card is not a debit or check card), the payee may rely on the consumer's statement without seeking further information about the type of card. If the payee believes, at the time of the authorization, that a credit card is involved, and later finds that the card used is a debit card (for example, because the consumer later brings the matter to the payee's attention), the payee must obtain a written and signed or (where appropriate) a similarly authenticated authorization as soon as reasonably possible, or cease debiting the consumer's account. 10(c) Consumer's Right To Stop Payment 1. Stop-payment order. The financial institution must honor an oral stop-payment order made at least three business days before a scheduled debit. If the debit item is resubmitted, the institution must continue to honor the stop-payment order (for example, by suspending all subsequent payments to the payee-originator until the consumer notifies the institution that payments should resume). 2. Revocation of authorization. Once a financial institution has been notified that the consumer's authorization is no longer valid, it must block all future payments for the particular debit transmitted by the designated payee-originator. (However, see comment 10(c)-3.) The institution may not wait for the payee-originator to terminate the automatic debits. The institution may confirm that the consumer has informed the payee-originator of the revocation (for example, by requiring a copy of the consumer's revocation as written confirmation to be provided within 14 days of an oral notification). If the institution does not receive the required written confirmation within the 14-day period, it may honor subsequent debits to the account. 3. Alternative procedure for processing a stop-payment request. If an institution does not have the capability to block a preauthorized debit from being posted to the consumer's account--as in the case of a preauthorized debit made through a debit card network or other system, for example--the institution may instead comply with the stop-payment requirements by using a third party to block the transfer(s), as long as the consumer's account is not debited for the payment. 10(d) Notice of Transfers Varying in Amount Paragraph 10(d)(1)--Notice 1. Preexisting authorizations. A financial institution holding the consumer's account does not violate the regulation if the designated payee fails to provide notice of varying amounts. Paragraph 10(d)(2)--Range 1. Range. A financial institution or designated payee that elects to offer the consumer a specified range of amounts for debiting (in lieu of providing the notice of transfers varying in amount) must provide an acceptable range that could be anticipated by the consumer. For example, if the transfer is for payment of a gas bill, an appropriate range might be based on the highest bill in winter and the lowest bill in summer. 2. Transfers to an account of the consumer held at another institution. A financial institution need not provide a consumer the option of receiving notice with each varying transfer, and may instead provide notice only when a debit to an account of the consumer falls outside a specified range or differs by more than a specified amount from the most recent transfer, if the funds are transferred and credited to an account of the consumer held at another financial institution. The specified range or amount, however, must be one that reasonably could be anticipated by the consumer, and the institution must notify the consumer of the range or amount at the time the consumer provides authorization for the preauthorized transfers. For example, if the transfer is for payment of interest for a fixed-rate certificate of deposit account, an appropriate range might be based on a month containing 28 days and a month containing 31 days. 10(e) Compulsory Use Paragraph 10(e)(1)--Credit 1. Loan payments. Creditors may not require repayment of loans by electronic means on a preauthorized, recurring basis. A creditor may offer a program with a reduced annual percentage rate or other cost- related incentive for an automatic repayment feature, provided the program with the automatic payment feature is not the only loan program offered by the creditor for the type of credit involved. Examples include: i. Mortgages with graduated payments in which a pledged savings account is automatically debited during an initial period to supplement the monthly payments made by the borrower. ii. Mortgage plans calling for preauthorized biweekly payments that are [[Page 150]] debited electronically to the consumer's account and produce a lower total finance charge. 2. Overdraft. A financial institution may require the automatic repayment of an overdraft credit plan even if the overdraft extension is charged to an open-end account that may be accessed by the consumer in ways other than by overdrafts. Paragraph 10(e)(2)--Employment or Government Benefit 1. Payroll. An employer (including a financial institution) may not require its employees to receive their salary by direct deposit to any particular institution. An employer may require direct deposit of salary by electronic means if employees are allowed to choose the institution that will receive the direct deposit. Alternatively, an employer may give employees the choice of having their salary deposited at a particular institution (designated by the employer) or receiving their salary by another means, such as by check or cash. Section 205.11--Procedures for Resolving Errors 11(a) Definition of Error 1. Terminal location. With regard to deposits at an ATM, a consumer's request for the terminal location or other information triggers the error resolution procedures, but the financial institution need only provide the ATM location if it has captured that information. 2. Verifying an account debit or credit. If the consumer contacts the financial institution to ascertain whether a payment (for example, in a home-banking or bill-payment program) or any other type of EFT was debited to the account, or whether a deposit made via ATM, preauthorized transfer, or any other type of EFT was credited to the account, without asserting an error, the error resolution procedures do not apply. 3. Loss or theft of access device. A financial institution is required to comply with the error resolution procedures when a consumer reports the loss or theft of an access device if the consumer also alleges possible unauthorized use as a consequence of the loss or theft. 4. Error asserted after account closed. The financial institution must comply with the error resolution procedures when a consumer properly asserts an error, even if the account has been closed. 5. Request for documentation or information. A request for documentation or other information must be treated as an error unless it is clear that the consumer is requesting a duplicate copy for tax or other record-keeping purposes. 6. Terminal receipts for transfers of $15 or less. The fact that an institution does not make a terminal receipt available for a transfer of $15 or less in accordance with Sec. 205.9(e) is not an error for purposes of Sec. Sec. 205.11(a)(1)(vi) or (vii). 11(b) Notice of Error From Consumer Paragraph 11(b)(1)--Timing; Contents 1. Content of error notice. The notice of error is effective even if it does not contain the consumer's account number, so long as the financial institution is able to identify the account in question. For example, the consumer could provide a Social Security number or other unique means of identification. 2. Investigation pending receipt of information. While a financial institution may request a written, signed statement from the consumer relating to a notice of error, it may not delay initiating or completing an investigation pending receipt of the statement. 3. Statement held for consumer. When a consumer has arranged for periodic statements to be held until picked up, the statement for a particular cycle is deemed to have been transmitted on the date the financial institution first makes the statement available to the consumer. 4. Failure to provide statement. When a financial institution fails to provide the consumer with a periodic statement, a request for a copy is governed by this section if the consumer gives notice within 60 days from the date on which the statement should have been transmitted. 5. Discovery of error by institution. The error resolution procedures of this section apply when a notice of error is received from the consumer, and not when the financial institution itself discovers and corrects an error. 6. Notice at particular phone number or address. A financial institution may require the consumer to give notice only at the telephone number or address disclosed by the institution, provided the institution maintains reasonable procedures to refer the consumer to the specified telephone number or address if the consumer attempts to give notice to the institution in a different manner. 7. Effect of late notice. An institution is not required to comply with the requirements of this section for any notice of error from the consumer that is received by the institution later than 60 days from the date on which the periodic statement first reflecting the error is sent. Where the consumer's assertion of error involves an unauthorized EFT, however, the institution must comply with Sec. 205.6 before it may impose any liability on the consumer. Paragraph 11(b)(2)--Written Confirmation 1. Written confirmation-of-error notice. If the consumer sends a written confirmation of [[Page 151]] error to the wrong address, the financial institution must process the confirmation through normal procedures. But the institution need not provisionally credit the consumer's account if the written confirmation is delayed beyond 10 business days in getting to the right place because it was sent to the wrong address. 11(c) Time Limits and Extent of Investigation 1. Notice to consumer. Unless otherwise indicated in this section, the financial institution may provide the required notices to the consumer either orally or in writing. 2. Written confirmation of oral notice. A financial institution must begin its investigation promptly upon receipt of an oral notice. It may not delay until it has received a written confirmation. 3. Charges for error resolution. If a billing error occurred, whether as alleged or in a different amount or manner, the financial institution may not impose a charge related to any aspect of the error- resolution process (including charges for documentation or investigation). Since the act grants the consumer error-resolution rights, the institution should avoid any chilling effect on the good- faith assertion of errors that might result if charges are assessed when no billing error has occurred. 4. Correction without investigation. A financial institution may make, without investigation, a final correction to a consumer's account in the amount or manner alleged by the consumer to be in error, but must comply with all other applicable requirements of Sec. 205.11. 5. Correction notice. A financial institution may include the notice of correction on a periodic statement that is mailed or delivered within the 10-business-day or 45-calendar-day time limits and that clearly identifies the correction to the consumer's account. The institution must determine whether such a mailing will be prompt enough to satisfy the requirements of this section, taking into account the specific facts involved. 6. Correction of an error. If the financial institution determines an error occurred, within either the 10-day or 45-day period, it must correct the error (subject to the liability provisions of Sec. Sec. 205.6 (a) and (b)) including, where applicable, the crediting of interest and the refunding of any fees imposed by the institution. In a combined credit/EFT transaction, for example, the institution must refund any finance charges incurred as a result of the error. The institution need not refund fees that would have been imposed whether or not the error occurred. 7. Extent of required investigation. A financial institution complies with its duty to investigate, correct, and report its determination regarding an error described in Sec. 205.11(a)(1)(vii) by transmitting the requested information, clarification, or documentation within the time limits set forth in Sec. 205.11(c). If the institution has provisionally credited the consumer's account in accordance with Sec. 205.11(c)(2), it may debit the amount upon transmitting the requested information, clarification, or documentation. Paragraph 11(c)(2)(i) 1. Compliance with all requirements. Financial institutions exempted from provisionally crediting a consumer's account under Sec. 205.11(c)(2)(i) (A) and (B) must still comply with all other requirements of Sec. 205.11. Paragraph 11(c)(3)--Extension of Time Periods 1. POS debit card transactions. The extended deadlines for investigating errors resulting from POS debit card transactions apply to all debit card transactions, including those for cash only, at merchants' POS terminals, and also including mail and telephone orders. The deadlines do not apply to transactions at an ATM, however, even though the ATM may be in a merchant location. Paragraph 11(c)(4)--Investigation 1. Third parties. When information or documentation requested by the consumer is in the possession of a third party with whom the financial institution does not have an agreement, the institution satisfies the error resolution requirement by so advising the consumer within the specified time period. 2. Scope of investigation. When an alleged error involves a payment to a third party under the financial institution's telephone bill- payment plan, a review of the institution's own records is sufficient, assuming no agreement exists between the institution and the third party concerning the bill-payment service. 3. POS transfers. When a consumer alleges an error involving a transfer to a merchant via a POS terminal, the institution must verify the information previously transmitted when executing the transfer. For example, the financial institution may request a copy of the sales receipt to verify that the amount of the transfer correctly corresponds to the amount of the consumer's purchase. 4. Agreement. An agreement that a third party will honor an access device is an agreement for purposes of this paragraph. A financial institution does not have an agreement for purposes of Sec. 205.11(c)(4)(ii) solely because it participates in transactions that occur under the federal recurring payments programs, or that are cleared through an ACH or similar arrangement for the clearing and settlement of fund transfers generally, or because it agrees to be bound by the rules of such an arrangement. 5. No EFT agreement. When there is no agreement between the institution and the [[Page 152]] third party for the type of EFT involved, the financial institution must review any relevant information within the institution's own records for the particular account to resolve the consumer's claim. The extent of the investigation required may vary depending on the facts and circumstances. However, a financial institution may not limit its investigation solely to the payment instructions where additional information within its own records pertaining to the particular account in question could help to resolve a consumer's claim. Information that may be reviewed as part of an investigation might include: i. The ACH transaction records for the transfer; ii. The transaction history of the particular account for a reasonable period of time immediately preceding the allegation of error; iii. Whether the check number of the transaction in question is notably out-of-sequence; iv. The location of either the transaction or the payee in question relative to the consumer's place of residence and habitual transaction area; v. Information relative to the account in question within the control of the institution's third-party service providers if the financial institution reasonably believes that it may have records or other information that could be dispositive; or vi. Any other information appropriate to resolve the claim. 11(d) Procedures if Financial Institution Determines No Error or Different Error Occurred 1. Error different from that alleged. When a financial institution determines that an error occurred in a manner or amount different from that described by the consumer, it must comply with the requirements of both Sec. 205.11 (c) and (d), as relevant. The institution may give the notice of correction and the explanation separately or in a combined form. Paragraph 11(d)(1)--Written Explanation 1. Request for documentation. When a consumer requests copies of documents, the financial institution must provide the copies in an understandable form. If an institution relied on magnetic tape it must convert the applicable data into readable form, for example, by printing it and explaining any codes. Paragraph 11(d)(2)--Debiting Provisional Credit 1. Alternative procedure for debiting of credited funds. The financial institution may comply with the requirements of this section by notifying the consumer that the consumer's account will be debited five business days from the transmittal of the notification, specifying the calendar date on which the debiting will occur. 2. Fees for overdrafts. The financial institution may not impose fees for items it is required to honor under Sec. 205.11. It may, however, impose any normal transaction or item fee that is unrelated to an overdraft resulting from the debiting. If the account is still overdrawn after five business days, the institution may impose the fees or finance charges to which it is entitled, if any, under an overdraft credit plan. 11(e) Reassertion of Error 1. Withdrawal of error; right to reassert. The financial institution has no further error resolution responsibilities if the consumer voluntarily withdraws the notice alleging an error. A consumer who has withdrawn an allegation of error has the right to reassert the allegation unless the financial institution had already complied with all of the error resolution requirements before the allegation was withdrawn. The consumer must do so, however, within the original 60-day period. Section 205.12--Relation to Other Laws 12(a) Relation to Truth in Lending 1. Determining applicable regulation. i. For transactions involving access devices that also function as credit cards, whether Regulation E or Regulation Z (12 CFR part 226) applies depends on the nature of the transaction. For example, if the transaction solely involves an extension of credit, and does not include a debit to a checking account (or other consumer asset account), the liability limitations and error resolution requirements of Regulation Z apply. If the transaction debits a checking account only (with no credit extended), the provisions of Regulation E apply. If the transaction debits a checking account but also draws on an overdraft line of credit attached to the account, Regulation E's liability limitations apply, in addition to Sec. Sec. 226.13 (d) and (g) of Regulation Z (which apply because of the extension of credit associated with the overdraft feature on the checking account). If a consumer's access device is also a credit card and the device is used to make unauthorized withdrawals from a checking account, but also is used to obtain unauthorized cash advances directly from a line of credit that is separate from the checking account, both Regulation E and Regulation Z apply. ii. The following examples illustrate these principles: A. A consumer has a card that can be used either as a credit card or a debit card. When used as a debit card, the card draws on the consumer's checking account. When used as a credit card, the card draws only on a separate line of credit. If the card is stolen and used as a credit card to make purchases or to [[Page 153]] get cash advances at an ATM from the line of credit, the liability limits and error resolution provisions of Regulation Z apply; Regulation E does not apply. B. In the same situation, if the card is stolen and is used as a debit card to make purchases or to get cash withdrawals at an ATM from the checking account, the liability limits and error resolution provisions of Regulation E apply; Regulation Z does not apply. C. In the same situation, assume the card is stolen and used both as a debit card and as a credit card; for example, the thief makes some purchases using the card as a debit card, and other purchases using the card as a credit card. Here, the liability limits and error resolution provisions of Regulation E apply to the unauthorized transactions in which the card was used as a debit card, and the corresponding provisions of Regulation Z apply to the unauthorized transactions in which the card was used as a credit card. D. Assume a somewhat different type of card, one that draws on the consumer's checking account and can also draw on an overdraft line of credit attached to the checking account. There is no separate line of credit, only the overdraft line, associated with the card. In this situation, if the card is stolen and used, the liability limits and the error resolution provisions of Regulation E apply. In addition, if the use of the card has resulted in accessing the overdraft line of credit, the error resolution provisions of Sec. 226.13(d) and (g) of Regulation Z also apply, but not the other error resolution provisions of Regulation Z. 2. Issuance rules. For access devices that also constitute credit cards, the issuance rules of Regulation E apply if the only credit feature is a preexisting credit line attached to the asset account to cover overdrafts (or to maintain a specified minimum balance) or an overdraft service, as defined in Sec. 205.17(a). Regulation Z (12 CFR part 226) rules apply if there is another type of credit feature; for example, one permitting direct extensions of credit that do not involve the asset account. 3. Overdraft service. The addition of an overdraft service, as that term is defined in Sec. 205.17(a), to an accepted access device does not constitute the addition of a credit feature subject to Regulation Z. Instead, the provisions of Regulation E apply, including the liability limitations (Sec. 205.6) and the requirement to obtain consumer consent to the service before any fees or charges for paying an overdraft may be assessed on the account (Sec. 205.17). 12(b) Preemption of Inconsistent State Laws 1. Specific determinations. The regulation prescribes standards for determining whether state laws that govern EFTs, and state laws regarding gift certificates, store gift cards, or general-use prepaid cards that govern dormancy, inactivity, or service fees, or expiration dates, are preempted by the act and the regulation. A state law that is inconsistent may be preempted even if the Board has not issued a determination. However, nothing in Sec. 205.12(b) provides a financial institution with immunity for violations of state law if the institution chooses not to make state disclosures and the Board later determines that the state law is not preempted. 2. Preemption determination. The Board determined that certain provisions in the state law of Michigan are preempted by the federal law, effective March 30, 1981: i. Definition of unauthorized use. Section 5(4) is preempted to the extent that it relates to the section of state law governing consumer liability for unauthorized use of an access device. ii. Consumer liability for unauthorized use of an account. Section 14 is inconsistent with Sec. 205.6 and is less protective of the consumer than the federal law. The state law places liability on the consumer for the unauthorized use of an account in cases involving the consumer's negligence. Under the federal law, a consumer's liability for unauthorized use is not related to the consumer's negligence and depends instead on the consumer's promptness in reporting the loss or theft of the access device. iii. Error resolution. Section 15 is preempted because it is inconsistent with Sec. 205.11 and is less protective of the consumer than the federal law. The state law allows financial institutions up to 70 days to resolve errors, whereas the federal law generally requires errors to be resolved within 45 days. iv. Receipts and periodic statements. Sections 17 and 18 are preempted because they are inconsistent with Sec. 205.9. The state provisions require a different disclosure of information than does the federal law. The receipt provision is also preempted because it allows the consumer to be charged for receiving a receipt if a machine cannot furnish one at the time of a transfer. Section 205.13--Administrative Enforcement; Record Retention 13(b) Record Retention 1. Requirements. A financial institution need not retain records that it has given disclosures and documentation to each consumer; it need only retain evidence demonstrating that its procedures reasonably ensure the consumers' receipt of required disclosures and documentation. [[Page 154]] Section 205.14--Electronic Fund Transfer Service Provider Not Holding Consumer's Account 14(a) Electronic Fund Transfer Service Providers Subject to Regulation 1. Applicability. This section applies only when a service provider issues an access device to a consumer for initiating transfers to or from the consumer's account at a financial institution and the two entities have no agreement regarding this EFT service. If the service provider does not issue an access device to the consumer for accessing an account held by another institution, it does not qualify for the treatment accorded by Sec. 205.14. For example, this section does not apply to an institution that initiates preauthorized payroll deposits to consumer accounts on behalf of an employer. By contrast, Sec. 205.14 can apply to an institution that issues a code for initiating telephone transfers to be carried out through the ACH from a consumer's account at another institution. This is the case even if the consumer has accounts at both institutions. 2. ACH agreements. The ACH rules generally do not constitute an agreement for purposes of this section. However, an ACH agreement under which members specifically agree to honor each other's debit cards is an ``agreement,'' and thus this section does not apply. 14(b) Compliance by Electronic Fund Transfer Service Provider 1. Liability. The service provider is liable for unauthorized EFTs that exceed limits on the consumer's liability under Sec. 205.6. Paragraph 14(b)(1)--Disclosures and Documentation 1. Periodic statements from electronic fund transfer service provider. A service provider that meets the conditions set forth in this paragraph does not have to issue periodic statements. A service provider that does not meet the conditions need only include on periodic statements information about transfers initiated with the access device it has issued. Paragraph 14(b)(2)--Error Resolution 1. Error resolution. When a consumer notifies the service provider of an error, the EFT service provider must investigate and resolve the error in compliance with Sec. 205.11 as modified by Sec. 205.14(b)(2). If an error occurred, any fees or charges imposed as a result of the error, either by the service provider or by the account-holding institution (for example, overdraft or dishonor fees) must be reimbursed to the consumer by the service provider. 14(c) Compliance by Account-Holding Institution Paragraph 14(c)(1) 1. Periodic statements from account-holding institution. The periodic statement provided by the account-holding institution need only contain the information required by Sec. 205.9(b)(1). Section 205.16--Disclosures at Automated Teller Machines 16(b) General Paragraph 16(b)(1) 1. Specific notices. An ATM operator that imposes a fee for a specific type of transaction--such as for a cash withdrawal, but not for a balance inquiry, or for some cash withdrawals, but not for others (such as where the card was issued by a foreign bank or by a card issuer that has entered into a special contractual relationship with the ATM operator regarding surcharges)--may provide a notice on or at the ATM that a fee will be imposed or a notice that a fee may be imposed for providing EFT services or may specify the type of EFT for which a fee is imposed. If, however, a fee will be imposed in all instances, the notice must state that a fee will be imposed. Section 205.17--Requirements for Overdraft Services 17(a) Definition 1. Exempt securities- and commodities-related lines of credit. The definition of ``overdraft service'' does not include the payment of transactions in a securities or commodities account pursuant to which credit is extended by a broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission. 17(b) Opt-In Requirement 1. Scope. i. Account-holding institutions. Section 205.17(b) applies to ATM and one-time debit card transactions made with a debit card issued by or on behalf of the account-holding institution. Section 205.17(b) does not apply to ATM and one-time debit card transactions made with a debit card issued by or through a third party unless the debit card is issued on behalf of the account-holding institution. ii. Coding of transactions. A financial institution complies with the rule if it adapts its systems to identify debit card transactions as either one-time or recurring. If it does so, the financial institution may rely on the transaction's coding by merchants, other institutions, and other third parties as a one-time or a preauthorized or recurring debit card transaction. [[Page 155]] iii. One-time debit card transactions. The opt-in applies to any one-time debit card transaction, whether the card is used, for example, at a point-of-sale, in an on-line transaction, or in a telephone transaction. iv. Application of fee prohibition. The prohibition on assessing overdraft fees under Sec. 205.17(b)(1) applies to all institutions. For example, the prohibition applies to an institution that has a policy and practice of declining to authorize and pay any ATM or one-time debit card transactions when the institution has a reasonable belief at the time of the authorization request that the consumer does not have sufficient funds available to cover the transaction. However, the institution is not required to comply with Sec. Sec. 205.17(b)(1)(i)- (iv), including the notice and opt-in requirements, if it does not assess overdraft fees for paying ATM or one-time debit card transactions that overdraw the consumer's account. Assume an institution does not provide an opt-in notice, but authorizes an ATM or one-time debit card transaction on the reasonable belief that the consumer has sufficient funds in the account to cover the transaction. If, at settlement, the consumer has insufficient funds in the account (for example, due to intervening transactions that post to the consumer's account), the institution is not permitted to assess an overdraft fee or charge for paying that transaction. 2. No affirmative consent. A financial institution may pay overdrafts for ATM and one-time debit card transactions even if a consumer has not affirmatively consented or opted in to the institution's overdraft service. If the institution pays such an overdraft without the consumer's affirmative consent, however, it may not impose a fee or charge for doing so. These provisions do not limit the institution's ability to debit the consumer's account for the amount overdrawn if the institution is permitted to do so under applicable law. 3. Overdraft transactions not required to be authorized or paid. Section 205.17 does not require a financial institution to authorize or pay an overdraft on an ATM or one-time debit card transaction even if the consumer has affirmatively consented to an institution's overdraft service for such transactions. 4. Reasonable opportunity to provide affirmative consent. A financial institution provides a consumer with a reasonable opportunity to provide affirmative consent when, among other things, it provides reasonable methods by which the consumer may affirmatively consent. A financial institution provides such reasonable methods, if-- i. By mail. The institution provides a form for the consumer to fill out and mail to affirmatively consent to the service. ii. By telephone. The institution provides a readily-available telephone line that consumers may call to provide affirmative consent. iii. By electronic means. The institution provides an electronic means for the consumer to affirmatively consent. For example, the institution could provide a form that can be accessed and processed at its Web site, where the consumer may click on a check box to provide consent and confirm that choice by clicking on a button that affirms the consumer's consent. iv. In person. The institution provides a form for the consumer to complete and present at a branch or office to affirmatively consent to the service. 5. Implementing opt-in at account-opening. A financial institution may provide notice regarding the institution's overdraft service prior to or at account-opening. A financial institution may require a consumer, as a necessary step to opening an account, to choose whether or not to opt into the payment of ATM or one-time debit card transactions pursuant to the institution's overdraft service. For example, the institution could require the consumer, at account opening, to sign a signature line or check a box on a form (consistent with comment 17(b)-6) indicating whether or not the consumer affirmatively consents at account opening. If the consumer does not check any box or provide a signature, the institution must assume that the consumer does not opt in. Or, the institution could require the consumer to choose between an account that does not permit the payment of ATM or one-time debit card transactions pursuant to the institution's overdraft service and an account that permits the payment of such overdrafts, provided that the accounts comply with Sec. 205.17(b)(2) and Sec. 205.17(b)(3). 6. Affirmative consent required. A consumer's affirmative consent, or opt-in, to a financial institution's overdraft service must be obtained separately from other consents or acknowledgements obtained by the institution, including a consent to receive disclosures electronically. An institution may obtain a consumer's affirmative consent by providing a blank signature line or check box that the consumer could sign or select to affirmatively consent, provided that the signature line or check box is used solely for purposes of evidencing the consumer's choice whether or not to opt into the overdraft service and not for other purposes. An institution does not obtain a consumer's affirmative consent by including preprinted language about the overdraft service in an account disclosure provided with a signature card or contract that the consumer must sign to open the account and that acknowledges the consumer's acceptance of the account terms. Nor does an institution obtain a consumer's affirmative consent by providing a signature card that contains a pre-selected check box indicating that the consumer is requesting the service. [[Page 156]] 7. Confirmation. A financial institution may comply with the requirement in Sec. 205.17(b)(1)(iv) to provide confirmation of the consumer's affirmative consent by mailing or delivering to the consumer a copy of the consumer's completed opt-in notice, or by mailing or delivering a letter or notice to the consumer acknowledging that the consumer has elected to opt into the institution's service. The confirmation, which must be provided in writing, or electronically if the consumer agrees, must include a statement informing the consumer of the right to revoke the opt-in at any time. See Sec. 205.17(d)(6), which permits institutions to include the revocation statement on the initial opt-in notice. An institution complies with the confirmation requirement if it has adopted reasonable procedures designed to ensure that overdraft fees are assessed only in connection with transactions paid after the confirmation has been mailed or delivered to the consumer. 8. Outstanding Negative Balance. If a fee or charge is based on the amount of the outstanding negative balance, an institution is prohibited from assessing any such fee if the negative balance is solely attributable to an ATM or one-time debit card transaction, unless the consumer has opted into the institution's overdraft service for ATM or one-time debit card transactions. However, the rule does not prohibit an institution from assessing such a fee if the negative balance is attributable in whole or in part to a check, ACH, or other type of transaction not subject to the prohibition on assessing overdraft fees in Sec. 205.17(b)(1). 9. Daily or Sustained Overdraft, Negative Balance, or Similar Fee or Charge i. Daily or sustained overdraft, negative balance, or similar fees or charges. If a consumer has not opted into the institution's overdraft service for ATM or one-time debit card transactions, the fee prohibition in Sec. 205.17(b)(1) applies to all overdraft fees or charges for paying those transactions, including but not limited to daily or sustained overdraft, negative balance, or similar fees or charges. Thus, where a consumer's negative balance is solely attributable to an ATM or one-time debit card transaction, the rule prohibits the assessment of such fees unless the consumer has opted in. However, the rule does not prohibit an institution from assessing daily or sustained overdraft, negative balance, or similar fees or charges if a negative balance is attributable in whole or in part to a check, ACH, or other type of transaction not subject to the fee prohibition. When the negative balance is attributable in part to an ATM or one-time debit card transaction, and in part to a check, ACH, or other type of transaction not subject to the fee prohibition, the date on which such a fee may be assessed is based on the date on which the check, ACH, or other type of transaction is paid into overdraft. ii. Examples. The following examples illustrate how an institution complies with the fee prohibition. For each example, assume the following: (a) The consumer has not opted into the payment of ATM or one-time debit card overdrafts; (b) these transactions are paid into overdraft because the amount of the transaction at settlement exceeded the amount authorized or the amount was not submitted for authorization; (c) under the account agreement, the institution may charge a per-item fee of $20 for each overdraft, and a one-time sustained overdraft fee of $20 on the fifth consecutive day the consumer's account remains overdrawn; (d) the institution posts ATM and debit card transactions before other transactions; and (e) the institution allocates deposits to account debits in the same order in which it posts debits. a. Assume that a consumer has a $50 account balance on March 1. That day, the institution posts a one-time debit card transaction of $60 and a check transaction of $40. The institution charges an overdraft fee of $20 for the check overdraft but cannot assess an overdraft fee for the debit card transaction. At the end of the day, the consumer has an account balance of negative $70. The consumer does not make any deposits to the account, and no other transactions occur between March 2 and March 6. Because the consumer's negative balance is attributable in part to the $40 check (and associated overdraft fee), the institution may charge a sustained overdraft fee on March 6 in connection with the check. b. Same facts as in a., except that on March 3, the consumer deposits $40 in the account. The institution allocates the $40 to the debit card transaction first, consistent with its posting order policy. At the end of the day on March 3, the consumer has an account balance of negative $30, which is attributable to the check transaction (and associated overdraft fee). The consumer does not make any further deposits to the account, and no other transactions occur between March 4 and March 6. Because the remaining negative balance is attributable to the March 1 check transaction, the institution may charge a sustained overdraft fee on March 6 in connection with the check. c. Assume that a consumer has a $50 account balance on March 1. That day, the institution posts a one-time debit card transaction of $60. At the end of that day, the consumer has an account balance of negative $10. The institution may not assess an overdraft fee for the debit card transaction. On March 3, the institution pays a check transaction of $100 and charges an overdraft fee of $20. At the end of that day, the consumer has [[Page 157]] an account balance of negative $130. The consumer does not make any deposits to the account, and no other transactions occur between March 4 and March 8. Because the consumer's negative balance is attributable in part to the check, the institution may assess a $20 sustained overdraft fee. However, because the check was paid on March 3, the institution must use March 3 as the start date for determining the date on which the sustained overdraft fee may be assessed. Thus, the institution may charge a $20 sustained overdraft fee on March 8. iii. Alternative approach. For a consumer who does not opt into the institution's overdraft service for ATM and one-time debit card transactions, an institution may also comply with the fee prohibition in Sec. 205.17(b)(1) by not assessing daily or sustained overdraft, negative balance, or similar fees or charges unless a consumer's negative balance is attributable solely to check, ACH or other types of transactions not subject to the fee prohibition while that negative balance remains outstanding. In such case, the institution would not have to determine how to allocate subsequent deposits that reduce but do not eliminate the negative balance. For example, if a consumer has a negative balance of $30, of which $10 is attributable to a one-time debit card transaction, an institution complies with the fee prohibition if it does not assess a sustained overdraft fee while that negative balance remains outstanding. Paragraph 17(b)(2)--Conditioning Payment of Other Overdrafts on Consumer's Affirmative Consent 1. Application of the same criteria. The prohibitions on conditioning in Sec. 205.17(b)(2) generally require an institution to apply the same criteria for deciding when to pay overdrafts for checks, ACH transactions, and other types of transactions, whether or not the consumer has affirmatively consented to the institution's overdraft service with respect to ATM and one-time debit card overdrafts. For example, if an institution's internal criteria would lead the institution to pay a check overdraft if the consumer had affirmatively consented to the institution's overdraft service for ATM and one-time debit card transactions, it must also apply the same criteria in a consistent manner in determining whether to pay the check overdraft if the consumer has not opted in. 2. No requirement to pay overdrafts on checks, ACH transactions, or other types of transactions. The prohibition on conditioning in Sec. 205.17(b)(2) does not require an institution to pay overdrafts on checks, ACH transactions, or other types of transactions in all circumstances. Rather, the rule simply prohibits institutions from considering the consumer's decision not to opt in when deciding whether to pay overdrafts for checks, ACH transactions, or other types of transactions. Paragraph 17(b)(3)--Same Account Terms, Conditions, and Features 1. Variations in terms, conditions, or features. A financial institution may not vary the terms, conditions, or features of an account provided to a consumer who does not affirmatively consent to the payment of ATM or one-time debit card transactions pursuant to the institution's overdraft service. This includes, but is not limited to: i. Interest rates paid and fees assessed; ii. The type of ATM or debit card provided to the consumer. For instance, an institution may not provide consumers who do not opt in a PIN-only card while providing a debit card with both PIN and signature- debit functionality to consumers who opt in; iii. Minimum balance requirements; or iv. Account features such as on-line bill payment services. 2. Limited-feature bank accounts. Section 205.17(b)(3) does not prohibit institutions from offering deposit account products with limited features, provided that a consumer is not required to open such an account because the consumer did not opt in. For example, Sec. 205.17(b)(3) does not prohibit an institution from offering a checking account designed to comply with state basic banking laws, or designed for consumers who are not eligible for a checking account because of their credit or checking account history, which may include features limiting the payment of overdrafts. However, a consumer who applies, and is otherwise eligible, for a full-service or other particular deposit account product may not be provided instead with the account with more limited features because the consumer has declined to opt in. Paragraph 17(b)(4)--Exception to the Notice and Opt-In Requirement 17(c) Timing 1. Early compliance. A financial institution may provide the notice required by Sec. 205(b)(1)(i) and obtain the consumer's affirmative consent to the financial institution's overdraft service for ATM and one-time debit card transactions prior to July 1, 2010, provided that the financial institution complies with all of the requirements of this section. 2. Permitted fees or charges. Fees or charges for ATM and one-time debit card overdrafts may be assessed only for overdrafts paid on or after the date the financial institution receives the consumer's affirmative consent to the institution's overdraft service. See also comment 17(b)-7. [[Page 158]] 17(d) Content and Format 1. Overdraft service. The description of the institution's overdraft service should indicate that the consumer has the right to affirmatively consent, or opt into payment of overdrafts for ATM and one-time debit card transactions. The description should also disclose the institution's policies regarding the payment of overdrafts for other transactions, including checks, ACH transactions, and automatic bill payments, provided that this content is not more prominent than the description of the consumer's right to opt into payment of overdrafts for ATM and one-time debit card transactions. As applicable, the institution also should indicate that it pays overdrafts at its discretion, and should briefly explain that if the institution does not authorize and pay an overdraft, it may decline the transaction. 2. Maximum fee. If the amount of a fee may vary from transaction to transaction, the financial institution may indicate that the consumer may be assessed a fee ``up to'' the maximum fee. The financial institution must disclose all applicable overdraft fees, including but not limited to: i. Per item or per transaction fees; ii. Daily overdraft fees; iii. Sustained overdraft fees, where fees are assessed when the consumer has not repaid the amount of the overdraft after some period of time (for example, if an account remains overdrawn for five or more business days); or iv. Negative balance fees. 3. Opt-in methods. The opt-in notice must include the methods by which the consumer may consent to the overdraft service for ATM and one- time debit card transactions. Institutions may tailor Model Form A-9 to the methods offered to consumers for affirmatively consenting to the service. For example, an institution need not provide the tear-off portion of Model Form A-9 if it is only permitting consumers to opt-in telephonically or electronically. Institutions may, but are not required, to provide a signature line or check box where the consumer can indicate that he or she declines to opt in. 4. Identification of consumer's account. An institution may use any reasonable method to identify the account for which the consumer submits the opt-in notice. For example, the institution may include a line for a printed name and an account number, as shown in Model Form A-9. Or, the institution may print a bar code or use other tracking information. See also comment 17(b)-6, which describes how an institution obtains a consumer's affirmative consent. 5. Alternative plans for covering overdrafts. If the institution offers both a line of credit subject to the Board's Regulation Z (12 CFR part 226) and a service that transfers funds from another account of the consumer held at the institution to cover overdrafts, the institution must state in its opt-in notice that both alternative plans are offered. For example, the notice might state ``We also offer overdraft protection plans, such as a link to a savings account or to an overdraft line of credit, which may be less expensive than our standard overdraft practices.'' If the institution offers one, but not the other, it must state in its opt-in notice the alternative plan that it offers. If the institution does not offer either plan, it should omit the reference to the alternative plans. 17(f) Continuing Right To Opt-In or To Revoke the Opt-In 1. Fees or charges for overdrafts incurred prior to revocation. Section 205.17(f)(1) provides that a consumer may revoke his or her prior consent at any time. If a consumer does so, this provision does not require the financial institution to waive or reverse any overdraft fees assessed on the consumer's account prior to the institution's implementation of the consumer's revocation request. 17(g) Duration of Opt-In. 1. Termination of overdraft service. A financial institution may, for example, terminate the overdraft service when the consumer makes excessive use of the service. Sec. 205.18 Requirements for Financial Institutions Offering Payroll Card Accounts. 18(a) Coverage 1. Issuance of access device. Consistent with Sec. 205.5(a), a financial institution may issue an access device only in response to an oral or written request for the device, or as a renewal or substitute for an accepted access device. A consumer is deemed to request an access device for a payroll card account when the consumer chooses to receive salary or other compensation through a payroll card account. 2. Application to employers and service providers. Typically, employers and third-party service providers do not meet the definition of a ``financial institution'' subject to the regulation because they neither hold payroll card accounts nor issue payroll cards and agree with consumers to provide EFT services in connection with payroll card accounts. However, to the extent an employer or a service provider undertakes either of these functions, it would be deemed a financial institution under the regulation. 18(b) Alternative to Periodic Statements 1. Posted transactions. A history of transactions provided under Sec. Sec. 205.18(b)(1)(ii) and (iii) shall reflect transfers once they have been posted to the account. Thus, an institution does not need to include transactions [[Page 159]] that have been authorized, but that have not yet posted to the account. 2. Electronic history. The electronic history required under Sec. 205.18(b)(1)(ii) must be provided in a form that the consumer may keep, as required under Sec. 205.4(a)(1). Financial institutions may satisfy this requirement if they make the electronic history available in a format that is capable of being retained. For example, an institution satisfies the requirement if it provides a history at an Internet Web site in a format that is capable of being printed or stored electronically using an Internet web browser. 18(c) Modified Requirements 1. Error resolution safe harbor provision. Institutions that choose to investigate notices of error provided up to 120 days from the date a transaction has posted to a consumer's account may still disclose the error resolution time period required by the regulation (as set forth in the Model Form in Appendix A-7). Specifically, an institution may disclose to payroll card account holders that the institution will investigate any notice of error provided within 60 days of the consumer electronically accessing an account or receiving a written history upon request that reflects the error, even if, for some or all transactions, the institution investigates any notice of error provided up to 120 days from the date that the transaction alleged to be in error has posted to the consumer's account. Similarly, an institution's summary of the consumer's liability (as required under Sec. 205.7(b)(1)) may disclose that liability is based on the consumer providing notice of error within 60 days of the consumer electronically accessing an account or receiving a written history reflecting the error, even if, for some or all transactions, the institution allows a consumer to assert a notice of error up to 120 days from the date of posting of the alleged error. 2. Electronic access. A consumer is deemed to have accessed a payroll card account electronically when the consumer enters a user identification code or password or otherwise complies with a security procedure used by an institution to verify the consumer's identity. An institution is not required to determine whether a consumer has in fact accessed information about specific transactions to trigger the beginning of the 60-day periods for liability limits and error resolution under Sec. Sec. 205.6 and 205.11. 3. Untimely notice of error. An institution that provides a transaction history under Sec. 205.18(b)(1) is not required to comply with the requirements of Sec. 205.11 for any notice of error from the consumer pertaining to a transfer that occurred more than 60 days prior to the earlier of the date the consumer electronically accesses the account or the date the financial institution sends a written history upon the consumer's request. (Alternatively, as provided in Sec. 205.18(c)(4)(ii), an institution need not comply with the requirements of Sec. 205.11 with respect to any notice of error received from the consumer more than 120 days after the date of posting of the transfer allegedly in error.) Where the consumer's assertion of error involves an unauthorized EFT, however, the institution must comply with Sec. 205.6 before it may impose any liability on the consumer. Section 205.20--Requirements for Gift Cards and Gift Certificates 20(a) Definitions 1. Form of card, code, or device. Section 205.20 applies to any card, code, or other device that meets one of the definitions in Sec. 205.20(a)(1) through (a)(3) (and is not otherwise excluded by Sec. 205.20(b)), even if it is not issued in card form. Section 205.20 applies, for example, to an account number or bar code that can be used to access underlying funds. Similarly, Sec. 205.20 applies to a device with a chip or other embedded mechanism that links the device to stored funds, such as a mobile phone or sticker containing a contactless chip that enables the consumer to access the stored funds. A card, code, or other device that meets the definition in Sec. 205.20(a)(1) through (a)(3) includes an electronic promise (see comment 20(a)-2) as well as a promise that is not electronic. See, however, Sec. 205.20(b)(5). In addition, Sec. 205.20 applies if a merchant issues a code that entitles a consumer to redeem the code for goods or services, regardless of the medium in which the code is issued (see, however, Sec. 205.20(b)(5)), and whether or not it may be redeemed electronically or in the merchant's store. Thus, for example, if a merchant e-mails a code that a consumer may redeem in a specified amount either on-line or in the merchant's store, that code is covered under Sec. 205.20, unless one of the exclusions in Sec. 205.20(b) apply. 2. Electronic promise. The term ``electronic promise'' as used in EFTA Sections 915(a)(2)(B), (a)(2)(C), and (a)(2)(D) means a person's commitment or obligation communicated or stored in electronic form made to a consumer to provide payment for goods or services for transactions initiated by the consumer. The electronic promise is itself represented by a card, code or other device that is issued or honored by the person, reflecting the person's commitment or obligation to pay. For example, if a merchant issues a code that can be given as a gift and that entitles the recipient to redeem the code in an on-line transaction for goods or services, that code represents an electronic promise by the merchant and is a card, code, or other device covered by Sec. 205.20. 3. Cards, codes, or other devices redeemable for specific goods or services. Certain cards, codes, or other devices may be redeemable [[Page 160]] upon presentation for a specific good or service, or ``experience,'' such as a spa treatment, hotel stay, or airline flight. In other cases, a card, code, or other device may entitle the consumer to a certain percentage off the purchase of a good or service, such as 20% off of any purchase in a store. Such cards, codes, or other devices generally are not subject to the requirements of this section because they are not issued to a consumer ``in a specified amount'' as required under the definitions of ``gift certificate,'' ``store gift card,'' or ``general- use prepaid card.'' However, if the card, code, or other device is issued in a specified or denominated amount that can be applied toward the purchase of a specific good or service, such as a certificate or card redeemable for a spa treatment up to $50, the card, code, or other device is subject to this section, unless one of the exceptions in Sec. 205.20(b) apply. See, e.g., Sec. 205.20(b)(3). Similarly, if the card, code, or other device states a specific monetary value, such as ``a $50 value,'' the card, code, or other device is subject to this section, unless an exclusion in Sec. 205.20(b) applies. 4. Issued primarily for personal, family, or household purposes. Section 205.20 only applies to cards, codes, or other devices that are sold or issued to a consumer primarily for personal, family, or household purposes. A card, code, or other device initially purchased by a business is subject to this section if the card, code, or other device is purchased for redistribution or resale to consumers primarily for personal, family, or household purposes. Moreover, the fact that a card, code, or other device may be primarily funded by a business, for example, in the case of certain rewards or incentive cards, does not mean the card, code, or other device is outside the scope of Sec. 205.20, if the card, code, or other device will be provided to a consumer primarily for personal, family, or household purposes. But see Sec. 205.20(b)(3). Whether a card, code, or other device is issued to a consumer primarily for personal, family, or household purposes will depend on the facts and circumstances. For example, if a program manager purchases store gift cards directly from an issuing merchant and sells those cards through the program manager's retail outlets, such gift cards are subject to the requirements of Sec. 205.20 because the store gift cards are sold to consumers primarily for personal, family, or household purposes. In contrast, a card, code, or other device generally would not be issued to consumers primarily for personal, family, or household purposes, and therefore would fall outside the scope of Sec. 205.20, if the purchaser of the card, code, or device is contractually prohibited from reselling or redistributing the card, code, or device to consumers primarily for personal, family, or household purposes, and reasonable policies and procedures are maintained to avoid such sale or distribution for such purposes. However, if an entity that has purchased cards, codes, or other devices for business purposes sells or distributes such cards, codes, or other devices to consumers primarily for personal, family, or household purposes, that entity does not comply with Sec. 205.20 if it has not otherwise met the substantive and disclosure requirements of the rule or unless an exclusion in Sec. 205.20(b) applies. 5. Examples of cards, codes, or other devices issued for business purposes. Examples of cards, codes, or other devices that are issued and used for business purposes and therefore excluded from the definitions of ``gift certificate,'' ``store gift card,'' or ``general-use prepaid card'' include i. Cards, codes, or other devices to reimburse employees for travel or moving expenses. ii. Cards, codes, or other devices for employees to use to purchase office supplies and other business-related items. Paragraph 20(a)(2)--Store Gift Card 1. Relationship between ``gift certificate'' and ``store gift card''. The term ``store gift card'' in Sec. 205.20(a)(2) includes ``gift certificate'' as defined in Sec. 205.20(a)(1). For example, a numeric or alphanumeric code representing a specified dollar amount or value that is electronically sent to a consumer as a gift which can be redeemed or exchanged by the recipient to obtain goods or services may be both a ``gift certificate'' and a ``store gift card'' if the specified amount or value cannot be increased. 2. Affiliated group of merchants. The term ``affiliated group of merchants'' means two or more affiliated merchants or other persons that are related by common ownership or common corporate control (see, e.g., 12 CFR 227.3(b) and 12 CFR 223.2) and that share the same name, mark, or logo. For example, the term includes franchisees that are subject to a common set of corporate policies or practices under the terms of their franchise licenses. The term also applies to two or more merchants or other persons that agree among themselves, by contract or otherwise, to redeem cards, codes, or other devices bearing the same name, mark, or logo (other than the mark, logo, or brand of a payment network), for the purchase of goods or services solely at such merchants or persons. For example, assume a movie theatre chain and a restaurant chain jointly agree to issue cards that share the same ``Flix and Food'' logo that can be redeemed solely towards the purchase of movie tickets or concessions at any of the participating movie theatres, or towards the purchase of food or beverages at any of the participating restaurants. For purposes of Sec. 205.20, the movie theatre chain and the restaurant chain would be considered to be an affiliated group of merchants, and the cards are considered to be ``store gift [[Page 161]] cards.'' However, merchants or other persons are not considered to be affiliated merely because they agree to accept a card that bears the mark, logo, or brand of a payment network. 3. Mall gift cards. See comment 20(a)(3)-2. Paragraph 20(a)(3)--General-Use Prepaid Card 1. Redeemable upon presentation at multiple, unaffiliated merchants. A card, code, or other device is redeemable upon presentation at multiple, unaffiliated merchants if, for example, such merchants agree to honor the card, code, or device if it bears the mark, logo, or brand of a payment network, pursuant to the rules of the payment network. 2. Mall gift cards. Mall gift cards that are intended to be used or redeemed for goods or services at participating retailers within a shopping mall may be considered store gift cards or general-use prepaid cards depending on the merchants with which the cards may be redeemed. For example, if a mall card may only be redeemed at merchants within the mall itself, the card is more likely to be redeemable at an affiliated group of merchants and considered a store gift card. However, certain mall cards also carry the brand of a payment network and can be used at any retailer that accepts that card brand, including retailers located outside of the mall. Such cards are considered general-use prepaid cards. Paragraph 20(a)(4)--Loyalty, Award, or Promotional Gift Card 1. Examples of loyalty, award, or promotional programs. Examples of loyalty, award or promotional programs under Sec. 205.20(a)(4) include, but are not limited to i. Consumer retention programs operated or administered by a merchant or other person that provide to consumers cards or coupons redeemable for or towards goods or services or other monetary value as a reward for purchases made or for visits to the participating merchant; ii. Sales promotions operated or administered by a merchant or product manufacturer that provide coupons or discounts redeemable for or towards goods or services or other monetary value. iii. Rebate programs operated or administered by a merchant or product manufacturer that provide cards redeemable for or towards goods or services or other monetary value to consumers in connection with the consumer's purchase of a product or service and the consumer's completion of the rebate submission process. iv. Sweepstakes or contests that distribute cards redeemable for or towards goods or services or other monetary value to consumers as an invitation to enter into the promotion for a chance to win a prize. v. Referral programs that provide cards redeemable for or towards goods or services or other monetary value to consumers in exchange for referring other potential consumers to a merchant. vi. Incentive programs through which an employer provides cards redeemable for or towards goods or services or other monetary value to employees, for example, to recognize job performance, such as increased sales, or to encourage employee wellness and safety. vii. Charitable or community relations programs through which a company provides cards redeemable for or towards goods or services or other monetary value to a charity or community group for their fundraising purposes, for example, as a reward for a donation or as a prize in a charitable event. 2. Issued for loyalty, award, or promotional purposes. To indicate that a card, code, or other device is issued for loyalty, award, or promotional purposes as required by Sec. 205.20(a)(4)(iii), it is sufficient for the card, code, or other device to state on the front, for example, ``Reward'' or ``Promotional.'' 3. Reference to toll-free number and Web site. If a card, code, or other device issued in connection with a loyalty, award, or promotional program does not have any fees, the disclosure under Sec. 205.20(a)(4)(iii)(D) is not required on the card, code, or other device. Paragraph 20(a)(6)--Service Fee 1. Service fees. Under Sec. 205.20(a)(6), a service fee includes a periodic fee for holding or use of a gift certificate, store gift card, or general-use prepaid card. A periodic fee includes any fee that may be imposed on a gift certificate, store gift card, or general-use prepaid card from time to time for holding or using the certificate or card, such as a monthly maintenance fee, a transaction fee, an ATM fee, a reload fee, a foreign currency transaction fee, or a balance inquiry fee, whether or not the fee is waived for a certain period of time or is only imposed after a certain period of time. A service fee does not include a one-time fee or a fee that is unlikely to be imposed more than once while the underlying funds are still valid, such as an initial issuance fee, a cash-out fee, a supplemental card fee, or a lost or stolen certificate or card replacement fee. Paragraph 20(a)(7)--Activity 1. Activity. Under Sec. 205.20(a)(7), any action that results in an increase or decrease of the funds underlying a gift certificate, store gift card, or general-use prepaid card, other than the imposition of a fee, or an adjustment due to an error or a reversal of a prior transaction, constitutes activity for purposes of Sec. 205.20. For example, the purchase and activation of a certificate or card, the use of the [[Page 162]] certificate or card to purchase a good or service, or the reloading of funds onto a store gift card or general-use prepaid card constitutes activity. However, the imposition of a fee, the replacement of an expired, lost, or stolen certificate or card, and a balance inquiry do not constitute activity. In addition, if a consumer attempts to engage in a transaction with a gift certificate, store gift card, or general- use prepaid card, but the transaction cannot be completed due to technical or other reasons, such attempt does not constitute activity. Furthermore, if the funds underlying a gift certificate, store gift card, or general-use prepaid card are adjusted because there was an error or the consumer has returned a previously purchased good, the adjustment also does not constitute activity with respect to the certificate or card. 20(b) Exclusions 1. Application of exclusion. A card, code, or other device is excluded from the definition of ``gift certificate,'' ``store gift card,'' or ``general-use prepaid card'' if it meets any of the exclusions in Sec. 205.20(b). An excluded card, code, or other device generally is not subject to any of the requirements of this section. (See, however, Sec. 205.20(a)(4)(iii), requiring certain disclosures for loyalty, award, or promotional gift cards.) 2. Eligibility for multiple exclusions. A card, code, or other device may qualify for one or more exclusions. For example, a corporation may give its employees a gift card that is marketed solely to businesses for incentive-related purposes, such as to reward job performance or promote employee safety. In this case, the card may qualify for the exclusion for loyalty, award, or promotional gift cards under Sec. 205.20(b)(3), or for the exclusion for cards, codes, or other devices not marketed to the general public under Sec. 205.20(b)(4). In addition, as long as any one of the exclusions applies, a card, code, or other device is not covered by Sec. 205.20, even if other exclusions do not apply. In the above example, the corporation may give its employees a type of gift card that can also be purchased by a consumer directly from a merchant. Under these circumstances, while the card does not qualify for the exclusion for cards, codes, or other devices not marketed to the general public under Sec. 205.20(b)(4) because the card can also be obtained through retail channels, it is nevertheless exempt from the substantive requirements of Sec. 205.20 because it is a loyalty, award, or promotional gift card. (See, however, Sec. 205.20(a)(4)(iii), requiring certain disclosures for loyalty, award, or promotional gift cards.) Similarly, a person may market a reloadable card to teenagers for occasional expenses that enables parents to monitor spending. Although the card does not qualify for the exclusion for cards, codes, or other devices not marketed to the general public under Sec. 205.20(b)(4), it may nevertheless be exempt from the requirements of Sec. 205.20 under Sec. 205.20(b)(2) if it is reloadable and not marketed or labeled as a gift card or gift certificate. Paragraph 20(b)(1)--Usable Solely for Telephone Services 1. Examples of excluded products. The exclusion for products usable solely for telephone services applies to prepaid cards for long-distance telephone service, prepaid cards for wireless telephone service and prepaid cards for other services that function similar to telephone services, such as prepaid cards for voice over internet protocol (VoIP) access time. Paragraph 20(b)(2)--Reloadable and Not Marketed or Labeled as a Gift Card or Gift Certificate 1. Reloadable. A card, code, or other device is ``reloadable'' if the terms and conditions of the agreement permit funds to be added to the card, code, or other device after the initial purchase or issuance. A card, code, or other device is not ``reloadable'' merely because the issuer or processor is technically able to add functionality that would otherwise enable the card, code, or other device to be reloaded. 2. Marketed or labeled as a gift card or gift certificate. The term ``marketed or labeled as a gift card or gift certificate'' means directly or indirectly offering, advertising or otherwise suggesting the potential use of a card, code or other device, as a gift for another person. Whether the exclusion applies generally does not depend on the type of entity that makes the promotional message. For example, a card may be marketed or labeled as a gift card or gift certificate if anyone (other than the purchaser of the card), including the issuer, the retailer, the program manager that may distribute the card, or the payment network on which a card is used, promotes the use of the card as a gift card or gift certificate. A card, code, or other device, including a general-purpose reloadable card, is marketed or labeled as a gift card or gift certificate even if it is only occasionally marketed as a gift card or gift certificate. For example, a network-branded general purpose reloadable card would be marketed or labeled as a gift card or gift certificate if the issuer principally advertises the card as a less costly alternative to a bank account but promotes the card in a television, radio, newspaper, or Internet advertisement, or on signage as ``the perfect gift'' during the holiday season. However, the mere mention of the availability of gift cards or gift certificates in an advertisement or on a sign that [[Page 163]] also indicates the availability of other excluded prepaid cards does not by itself cause the excluded prepaid cards to be marketed as a gift card or a gift certificate. For example, the posting of a sign in a store that refers to the availability of gift cards does not by itself constitute the marketing of otherwise excluded prepaid cards that may also be sold in the store as gift cards or gift certificates, provided that a consumer acting reasonably under the circumstances would not be led to believe that the sign applies to all prepaid cards sold in the store. (See, however, comment 20(b)(2)-4.ii.) 3. Examples of marketed or labeled as a gift card or gift certificate. i. Examples of marketed or labeled as a gift card or gift certificate include A. Using the word ``gift'' or ``present'' on a card, certificate, or accompanying material, including documentation, packaging and promotional displays; B. Representing or suggesting that a certificate or card can be given to another person, for example, as a ``token of appreciation'' or a ``stocking stuffer,'' or displaying a congratulatory message on the card, certificate or accompanying material; C. Incorporating gift-giving or celebratory imagery or motifs, such as a bow, ribbon, wrapped present, candle, or congratulatory message, on a card, certificate, accompanying documentation, or promotional material; ii. The term does not include A. Representing that a card or certificate can be used as a substitute for a checking, savings, or deposit account; B. Representing that a card or certificate can be used to pay for a consumer's health-related expenses--for example, a card tied to a health savings account; C. Representing that a card or certificate can be used as a substitute for travelers checks or cash; D. Representing that a card or certificate can be used as a budgetary tool, for example, by teenagers, or to cover emergency expenses. 4. Reasonable policies and procedures to avoid marketing as a gift card. The exclusion for a card, code, or other device that is reloadable and not marketed or labeled as a gift card or gift certificate in Sec. 205.20(b)(2) applies if a reloadable card, code, or other device is not marketed or labeled as a gift card or gift certificate and if persons subject to the rule, including issuers, program managers, and retailers, maintain policies and procedures reasonably designed to avoid such marketing. Such policies and procedures may include contractual provisions prohibiting a reloadable card, code, or other device from being marketed or labeled as a gift card or gift certificate, merchandising guidelines or plans regarding how the product must be displayed in a retail outlet, and controls to regularly monitor or otherwise verify that the card, code or other device is not being marketed as a gift card. Whether a reloadable card, code, or other device has been marketed as a gift card or gift certificate will depend on the facts and circumstances, including whether a reasonable consumer would be led to believe that the card, code, or other device is a gift card or gift certificate. The following examples illustrate the application of Sec. 205.20(b)(2) i. An issuer or program manager of prepaid cards agrees to sell general-purpose reloadable cards through a retailer. The contract between the issuer or program manager and the retailer establishes the terms and conditions under which the cards may be sold and marketed at the retailer. The terms and conditions prohibit the general-purpose reloadable cards from being marketed as a gift card or gift certificate, and require policies and procedures to regularly monitor or otherwise verify that the cards are not being marketed as such. The issuer or program manager sets up one promotional display at the retailer for gift cards and another physically separated display for excluded products under Sec. 205.20(b), including general-purpose reloadable cards and wireless telephone cards, such that a reasonable consumer would not believe that the excluded cards are gift cards. The exclusion in Sec. 205.20(b)(2) applies because policies and procedures reasonably designed to avoid the marketing of the general-purpose reloadable cards as gift cards or gift certificates are maintained, even if a retail clerk inadvertently stocks or a consumer inadvertently places a general- purpose reloadable card on the gift card display. ii. Same facts as in i., except that the issuer or program manager sets up a single promotional display at the retailer on which a variety of prepaid cards are sold, including store gift cards and general- purpose reloadable cards. A sign stating ``Gift Cards'' appears prominently at the top of the display. The exclusion in Sec. 205.20(b)(2) does not apply with respect to the general-purpose reloadable cards because policies and procedures reasonably designed to avoid the marketing of excluded cards as gift cards or gift certificates are not maintained. iii. Same facts as in i., except that the issuer or program manager sets up a single promotional multi-sided display at the retailer on which a variety of prepaid card products, including store gift cards and general-purpose reloadable cards are sold. Gift cards are segregated from excluded cards, with gift cards on one side of the display and excluded cards on a different side of a display. Signs of equal prominence at the top of each side of the display clearly differentiate between gift cards and the other types of prepaid cards that are available for sale. The retailer does not use any more conspicuous [[Page 164]] signage suggesting the general availability of gift cards, such as a large sign stating ``Gift Cards'' at the top of the display or located near the display. The exclusion in Sec. 205.20(b)(2) applies because policies and procedures reasonably designed to avoid the marketing of the general-purpose reloadable cards as gift cards or gift certificates are maintained, even if a retail clerk inadvertently stocks or a consumer inadvertently places a general-purpose reloadable card on the gift card display. iv. Same facts as in i., except that the retailer sells a variety of prepaid card products, including store gift cards and general-purpose reloadable cards, arranged side-by-side in the same checkout lane. The retailer does not affirmatively indicate or represent that gift cards are available, such as by displaying any signage or other indicia at the checkout lane suggesting the general availability of gift cards. The exclusion in Sec. 205.20(b)(2) applies because policies and procedures reasonably designed to avoid marketing the general-purpose reloadable cards as gift cards or gift certificates are maintained. 5. On-line sales of prepaid cards. Some Web sites may prominently advertise or promote the availability of gift cards or gift certificates in a manner that suggests to a consumer that the Web site exclusively sells gift cards or gift certificates. For example, a Web site may display a banner advertisement or a graphic on the home page that prominently states ``Gift Cards,'' ``Gift Giving,'' or similar language without mention of other available products, or use a Web address that includes only a reference to gift cards or gift certificates in the address. In such a case, a consumer acting reasonably under the circumstances could be led to believe that all prepaid products sold on the Web site are gift cards or gift certificates. Under these facts, the Web site has marketed all such products, including general-purpose reloadable cards, as gift cards or gift certificates, and the exclusion in Sec. 205.20(b)(2) does not apply. 6. Temporary non-reloadable cards issued in connection with a general-purpose reloadable card. Certain general-purpose reloadable cards that are typically marketed as an account substitute initially may be sold or issued in the form of a temporary non-reloadable card. After the card is purchased, the cardholder is typically required to call the issuer to register the card and to provide identifying information in order to obtain a reloadable replacement card. In most cases, the temporary non-reloadable card can be used for purchases until the replacement reloadable card arrives and is activated by the cardholder. Because the temporary non-reloadable card may only be obtained in connection with the general-purpose reloadable card, the exclusion in Sec. 205.20(b)(2) applies so long as the card is not marketed as a gift card or gift certificate. Paragraph 20(b)(4)--Not Marketed to the General Public 1. Marketed to the general public. A card, code, or other device is marketed to the general public if the potential use of the card, code, or other device is directly or indirectly offered, advertised, or otherwise promoted to the general public. A card, code, or other device may be marketed to the general public through any advertising medium, including television, radio, newspaper, the Internet, or signage. However, the posting of a company policy that funds may be disbursed by prepaid card (such as a sign posted at a cash register or customer service center stating that store credit will be issued by prepaid card) does not constitute the marketing of a card, code, or other device to the general public. In addition, the method of distribution by itself is not dispositive in determining whether a card, code, or other device is marketed to the general public. Factors that may be considered in determining whether the exclusion applies to a particular card, code, or other device include the means or channel through which the card, code, or device may be obtained by a consumer, the subset of consumers that are eligible to obtain the card, code, or device, and whether the availability of the card, code, or device is advertised or otherwise promoted in the marketplace. 2. Examples. The following examples illustrate the application of the exclusion in Sec. 205.20(b)(4) i. A merchant sells its gift cards at a discount to a business which may give them to employees or loyal consumers as incentives or rewards. In determining whether the gift card falls within the exclusion in Sec. 205.20(b)(4), the merchant must consider whether the card is of a type that is advertised or made available to consumers generally or can be obtained elsewhere. If the card can also be purchased through retail channels, the exclusion in Sec. 205.20(b)(4) does not apply, even if the consumer obtained the card from the business as an incentive or reward. See, however, Sec. 205.20(b)(3). ii. A national retail chain decides to market its gift cards only to members of its frequent buyer program. Similarly, a bank may decide to sell gift cards only to its customers. If a member of the general public may become a member of the program or a customer of the bank, the card does not fall within the exclusion in Sec. 205.20(b)(4) because the general public has the ability to obtain the cards. See, however, Sec. 205.20(b)(3). iii. A card issuer advertises a reloadable card to teenagers and their parents promoting the card for use by teenagers for occasional expenses, schoolbooks and emergencies and by parents to monitor spending. [[Page 165]] Because the card is marketed to and may be sold to any member of the general public, the exclusion in Sec. 205.20(b)(4) does not apply. See, however, Sec. 205.20(b)(2). iv. An insurance company settles a policyholder's claim and distributes the insurance proceeds to the consumer by means of a prepaid card. Because the prepaid card is simply the means for providing the insurance proceeds to the consumer and the availability of the card is not advertised to the general public, the exclusion in Sec. 205.20(b)(4) applies. v. A merchant provides store credit to a consumer following a merchandise return by issuing a prepaid card that clearly indicates that the card contains funds for store credit. Because the prepaid card is issued for the stated purpose of providing store credit to the consumer and the ability to receive refunds by a prepaid card is not advertised to the general public, the exclusion in Sec. 205.20(b)(4) applies. vi. A tax preparation company elects to distribute tax refunds to its clients by issuing prepaid cards, but does not advertise or otherwise promote the ability to receive proceeds in this manner. Because the prepaid card is simply the mechanism for providing the tax refund to the consumer, and the tax preparer does not advertise the ability to obtain tax refunds by a prepaid card, the exclusion in Sec. 205.20(b)(4) applies. However, if the tax preparer promotes the ability to receive tax refund proceeds through a prepaid card as a way to obtain ``faster'' access to the proceeds, the exclusion in Sec. 205.20(b)(4) does not apply. Paragraph 20(b)(5)--Issued in Paper Form Only 1. Exclusion explained. To qualify for the exclusion in Sec. 205.20(b)(5), the sole means of issuing the card, code, or other device must be in a paper form. Thus, the exclusion generally applies to certificates issued in paper form where solely the paper itself may be used to purchase goods or services. A card, code or other device is not issued solely in paper form simply because it may be reproduced or printed on paper. For example, a bar code, card or certificate number, or certificate or coupon electronically provided to a consumer and redeemable for goods and services is not issued in paper form, even if it may be reproduced or otherwise printed on paper by the consumer. In this circumstance, although the consumer might hold a paper facsimile of the card, code, or other device, the exclusion does not apply because the information necessary to redeem the value was initially issued in electronic form. A paper certificate is within the exclusion regardless of whether it may be redeemed electronically. For example, a paper certificate or receipt that bears a bar code, code, or account number falls within the exclusion in Sec. 205.20(b)(5) if the bar code, code, or account number is not issued in any form other than on the paper. In addition, the exclusion in Sec. 205.20(b)(5) continues to apply in circumstances where an issuer replaces a gift certificate that was initially issued in paper form with a card or electronic code (for example, to replace a lost paper certificate). 2. Examples. The following examples illustrate the application of the exclusion in Sec. 205.20(b)(5) i. A merchant issues a paper gift certificate that entitles the bearer to a specified dollar amount that can be applied towards a future meal. The merchant fills in the certificate with the name of the certificate holder and the amount of the certificate. The certificate falls within the exclusion in Sec. 205.20(b)(5) because it is issued in paper form only. ii. A merchant allows a consumer to prepay for a good or service, such as a car wash or time at a parking meter, and issues a paper receipt bearing a numerical or bar code that the consumer may redeem to obtain the good or service. The exclusion in Sec. 205.20(b)(5) applies because the code is issued in paper form only. iii. A merchant issues a paper certificate or receipt bearing a bar code or certificate number that can later be scanned or entered into the merchant's system and redeemed by the certificate or receipt holder towards the purchase of goods or services. The bar code or certificate number is not issued by the merchant in any form other than paper. The exclusion in Sec. 205.20(b)(5) applies because the bar code or certificate number is issued in paper form only. iv. An on-line merchant electronically provides a bar code, card or certificate number, or certificate or coupon to a consumer that the consumer may print on a home printer and later redeem towards the purchase of goods or services. The exclusion in Sec. 205.20(b)(5) does not apply because the bar code or card or certificate number was issued to the consumer in electronic form, even though it can be reproduced or otherwise printed on paper by the consumer. Paragraph 20(b)(6)--Redeemable Solely for Admission to Events or Venues 1. Exclusion explained. The exclusion for cards, codes, or other devices that are redeemable solely for admission to events or venues at a particular location or group of affiliated locations generally applies to cards, codes, or other devices that are not redeemed for a specified monetary value, but rather solely for admission or entry to an event or venue. The exclusion also covers a card, code, or other device that is usable to purchase goods or services in addition to entry into the event or the venue, either at the event or venue or at an affiliated location or location in geographic proximity to the event or venue. [[Page 166]] 2. Examples. The following examples illustrate the application of the exclusion in Sec. 205.20(b)(6) i. A consumer purchases a prepaid card that entitles the holder to a ticket for entry to an amusement park. The prepaid card may only be used for entry to the park. The card qualifies for the exclusion in Sec. 205.20(b)(6) because it is redeemable for admission or entry and for goods or services in conjunction with that admission. In addition, if the prepaid card does not have a monetary value, and therefore is not ``issued in a specified amount,'' the card does not meet the definitions of ``gift certificate,'' ``store gift card,'' or ``general-use prepaid card'' in Sec. 205.20(a). See comment 20(a)-3. ii. Same facts as in i., except that the gift card also entitles the holder of the gift card to a dollar amount that can be applied towards the purchase of food and beverages or goods or services at the park or at nearby affiliated locations. The card qualifies for the exclusion in Sec. 205.20(b)(6) because it is redeemable for admission or entry and for goods or services in conjunction with that admission. iii. A consumer purchases a $25 gift card that the holder of the gift card can use to make purchases at a merchant, or, alternatively, can apply towards the cost of admission to the merchant's affiliated amusement park. The card is not eligible for the exclusion in Sec. 205.20(b)(6) because it is not redeemable solely for the admission or ticket itself (or for goods and services purchased in conjunction with such admission). The card meets the definition of ``store gift card'' and is therefore subject to Sec. 205.20, unless a different exclusion applies. 20(c) Form of Disclosures Paragraph 20(c)(1)--Clear and Conspicuous 1. Clear and conspicuous standard. All disclosures required by this section must be clear and conspicuous. Disclosures are clear and conspicuous for purposes of this section if they are readily understandable and, in the case of written and electronic disclosures, the location and type size are readily noticeable to consumers. Disclosures need not be located on the front of the certificate or card, except where otherwise required, to be considered clear and conspicuous. Disclosures are clear and conspicuous for the purposes of this section if they are in a print that contrasts with and is otherwise not obstructed by the background on which they are printed. For example, disclosures on a card or computer screen are not likely to be conspicuous if obscured by a logo printed in the background. Similarly, disclosures on the back of a card that are printed on top of indentations from embossed type on the front of the card are not likely to be conspicuous if the indentations obstruct the readability of the disclosures. To the extent permitted, oral disclosures meet the standard when they are given at a volume and speed sufficient for a consumer to hear and comprehend them. 2. Abbreviations and symbols. Disclosures may contain commonly accepted or readily understandable abbreviations or symbols, such as ``mo.'' for month or a ``/'' to indicate ``per.'' Under the clear and conspicuous standard, it is sufficient to state, for example, that a particular fee is charged ``$2.50/mo. after 12 mos.'' Paragraph 20(c)(2)--Format 1. Electronic disclosures. Disclosures provided electronically pursuant to this section are not subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.). Electronic disclosures must be in a retainable form. For example, a person may satisfy the requirement if it provides an online disclosure in a format that is capable of being printed. Electronic disclosures may not be provided through a hyperlink or in another manner by which the purchaser can bypass the disclosure. A person is not required to confirm that the consumer has read the electronic disclosures. Paragraph 20(c)(3)--Disclosure Prior to Purchase 1. Method of purchase. The disclosures required by this paragraph must be provided before a certificate or card is purchased regardless of whether the certificate or card is purchased in person, online, by telephone, or by other means. 2. Electronic disclosures. Section 205.20(c)(3) provides that the disclosures required by this section must be provided to the consumer prior to purchase. For certificates or cards purchased electronically, disclosures made to the consumer after a consumer has initiated an online purchase of a certificate or card, but prior to completing the purchase of the certificate or card, would satisfy the prior-to-purchase requirement. However, electronic disclosures made available on a person's Web site that may or may not be accessed by the consumer are not provided to the consumer and therefore would not satisfy the prior- to-purchase requirement. 3. Non-physical certificates and cards. If no physical certificate or card is issued, the disclosures must be provided to the consumer before the certificate or card is purchased. For example, where a gift certificate or card is a code that is provided by telephone, the required disclosures may be provided orally prior to purchase. See also Sec. 205.20(c)(2). [[Page 167]] Paragraph 20(c)(4)--Disclosures on the Certificate or Card 1. Non-physical certificates and cards. If no physical certificate or card is issued, the disclosures required by this paragraph must be disclosed on the code, confirmation, or other written or electronic document provided to the consumer. For example, where a gift certificate or card is a code or confirmation that is provided to a consumer on-line or sent to a consumer's e-mail address, the required disclosures may be provided electronically on the same document as the code or confirmation. 2. No disclosures on a certificate or card. Disclosures required by Sec. 205.20(c)(4) need not be made on a certificate or card if it is accompanied by a certificate or card that complies with this section. For example, a person may issue or sell a supplemental gift card that is smaller than a standard size and that does not bear the applicable disclosures if it is accompanied by a fully compliant certificate or card. See also comment 20(c)(2)-2. 20(d) Prohibition on Imposition of Fees or Charges 1. One-year period. Section 205.20(d) provides that a person may impose a dormancy, inactivity, or service fee only if there has been no activity with respect to a certificate or card for one year. The following examples illustrate this rule i. A certificate or card is purchased on January 15 of year one. If there has been no activity on the certificate or card since the certificate or card was purchased, a dormancy, inactivity, or service fee may be imposed on the certificate or card on January 15 of year two. ii. Same facts as i., and a fee was imposed on January 15 of year two. Because no more than one dormancy, inactivity, or service fee may be imposed in any given calendar month, the earliest date that another dormancy, inactivity, or service fee may be imposed, assuming there continues to be no activity on the certificate or card, is February 1 of year two. A dormancy, inactivity, or service fee is permitted to be imposed on February 1 of year two because there has been no activity on the certificate or card for the preceding year (February 1 of year one through January 31 of year two), and February is a new calendar month. The imposition of a fee on January 15 of year two is not activity for purposes of Sec. 205.20(d). See comment 20(a)(7)-1. iii. Same facts as i., and a fee was imposed on January 15 of year two. On January 31 of year two, the consumer uses the card to make a purchase. Another dormancy, inactivity, or service fee could not be imposed until January 31 of year three, assuming there has been no activity on the certificate or card since January 31 of year two. 2. Relationship between Sec. Sec. 205.20(d)(2) and (c)(3). Sections 205.20(d)(2) and (c)(3) contain similar, but not identical, disclosure requirements. Section 205.20(d)(2) requires the disclosure of dormancy, inactivity, and service fees on a certificate or card. Section 205.20(c)(3) requires that vendor person that issues or sells such certificate or card disclose to a consumer any dormancy, inactivity, and service fees associated with the certificate or card before such certificate or card may be purchased. Depending on the context, a single disclosure that meets the clear and conspicuous requirements of both Sec. Sec. 205.20(d)(2) and (c)(3) may be used to disclose a dormancy, inactivity, or service fee. For example, if the disclosures on a certificate or card, required by Sec. 205.20(d)(2), are visible to the consumer without having to remove packaging or other materials sold with the certificate or card, for a purchase made in person, the disclosures also meet the requirements of Sec. 205.20(c)(3). Otherwise, a dormancy, inactivity, or service fee may need to be disclosed multiple times to satisfy the requirements of Sec. Sec. 205.20(d)(2) and (c)(3). For example, if the disclosures on a certificate or card, required by Sec. 205.20(d)(2), are obstructed by packaging sold with the certificate or card, for a purchase made in person, they also must be disclosed on the packaging sold with the certificate or card to meet the requirements of Sec. 205.20(c)(3). 3. Relationship between Sec. Sec. 205.20(d)(2), (e)(3), and (f)(2). In addition to any disclosures required under Sec. 205.20(d)(2), any applicable disclosures under Sec. Sec. 205.20(e)(3) and (f)(2) of this section must also be provided on the certificate or card. 4. One fee per month. Under Sec. 205.20(d)(3), no more than one dormancy, inactivity, or service fee may be imposed in any given calendar month. For example, if a dormancy fee is imposed on January 1, following a year of inactivity, and a consumer makes a balance inquiry on January 15, a balance inquiry fee may not be imposed at that time because a dormancy fee was already imposed earlier that month and a balance inquiry fee is a type of service fee. If, however, the dormancy fee could be imposed on January 1, following a year of inactivity, and the consumer makes a balance inquiry on the same date, the person assessing the fees may choose whether to impose the dormancy fee or the balance inquiry fee on January 1. The restriction in Sec. 205.20(d)(3) does not apply to any fee that is not a dormancy, inactivity, or service fee. For example, assume a service fee is imposed on a general-use prepaid card on January 1, following a year of inactivity. If a consumer cashes out the remaining funds by check on January 15, a cash-out fee, to the extent such cash-out fee is permitted under Sec. 205.20(e)(4), may be imposed at that time because a cash-out fee is not a dormancy, inactivity, or service fee. [[Page 168]] 5. Accumulation of fees. Section 205.20(d) prohibits the accumulation of dormancy, inactivity, or service fees for previous periods into a single fee because such a practice would circumvent the limitation in Sec. 205.20(d)(3) that only one fee may be charged per month. For example, if a consumer purchases and activates a store gift card on January 1 but never uses the card, a monthly maintenance fee of $2.00 a month may not be accumulated such that a fee of $24 is imposed on January 1 the following year. 20(e) Prohibition on Sale of Gift Certificates or Cards With Expiration Dates 1. Reasonable opportunity. Under Sec. 205.20(e)(1), no person may sell or issue a gift certificate, store gift card, or general-use prepaid card with an expiration date, unless there are policies and procedures in place to provide consumers with a reasonable opportunity to purchase a certificate or card with at least five years remaining until the certificate or card expiration date. Consumers are deemed to have a reasonable opportunity to purchase a certificate or card with at least five years remaining until the certificate or card expiration date if i. There are policies and procedures established to prevent the sale of a certificate or card unless the certificate or card expiration date is at least five years after the date the certificate or card was sold or initially issued to a consumer; or ii. A certificate or card is available to consumers to purchase five years and six months before the certificate or card expiration date. 2. Applicability to replacement certificates or cards. Section 205.20(e)(1) applies solely to the purchase of a certificate or card. Therefore, Sec. 205.20(e)(1) does not apply to the replacement of such certificates or cards. Certificates or cards issued as a replacement may bear a certificate or card expiration date of less than five years from the date of issuance of the replacement certificate or card. If the certificate or card expiration date for a replacement certificate or card is later than the date set forth in Sec. 205.20(e)(2)(i), then pursuant to Sec. 205.20(e)(2), the expiration date for the underlying funds at the time the replacement certificate or card is issued must be no earlier than the expiration date for the replacement certificate or card. For purposes of Sec. 205.20(e)(2), funds are not considered to be loaded to a store gift card or general-use prepaid card solely because a replacement card has been issued or activated for use. 3. Disclosure of funds expiration--date not required. Section 205.20(e)(3)(i) does not require disclosure of the precise date the funds will expire. It is sufficient to disclose, for example, ``Funds expire 5 years from the date funds last loaded to the card.''; ``Funds can be used 5 years from the date money was last added to the card.''; or ``Funds do not expire.'' 4. Disclosure not required if no expiration date. If the certificate or card and underlying funds do not expire, the disclosure required by Sec. 205.20(e)(3)(i) need not be stated on the certificate or card. If the certificate or card and underlying funds expire at the same time, only one expiration date need be disclosed on the certificate or card. 5. Reference to toll-free telephone number and Web site. If a certificate or card does not expire, or if the underlying funds are not available after the certificate or card expires, the disclosure required by Sec. 205.20(e)(3)(ii) need not be stated on the certificate or card. See, however, Sec. 205.20(f)(2). 6. Relationship to Sec. 226.20(f)(2). The same toll-free telephone number and Web site may be used to comply with Sec. Sec. 226.20(e)(3)(ii) and (f)(2). Neither a toll-free number nor a Web site must be maintained or disclosed if no fees are imposed in connection with a certificate or card, and the certificate or card and the underlying funds do not expire. 7. Distinguishing between certificate or card expiration and funds expiration. If applicable, a disclosure must be made on the certificate or card that notifies a consumer that the certificate or card expires, but the funds either do not expire or expire later than the certificate or card, and that the consumer may contact the issuer for a replacement card. The disclosure must be made with equal prominence and in close proximity to the certificate or card expiration date. The close proximity requirement does not apply to oral disclosures. In the case of a certificate or card, close proximity means that the disclosure must be on the same side as the certificate or card expiration date. For example, if the disclosure is the same type size and is located immediately next to or directly above or below the certificate or card expiration date, without any intervening text or graphical displays, the disclosures would be deemed to be equally prominent and in close proximity. The disclosure need not be embossed on the certificate or card to be deemed equally prominent, even if the expiration date is embossed on the certificate or card. The disclosure may state on the front of the card, for example, ``Funds expire after card. Call for replacement card.'' or ``Funds do not expire. Call for new card after 09/2016.'' Disclosures made pursuant to Sec. 205.20(e)(3)(iii)(A) may also fulfill the requirements of Sec. 205.20(e)(3)(i). For example, making a disclosure that ``Funds do not expire'' to comply with Sec. 205.20(e)(3)(iii)(A) also fulfills the requirements of Sec. 205.20(e)(3)(i). 8. Expiration date safe harbor. A non-reloadable certificate or card that bears an expiration date that is at least seven years from the date of manufacture need not state the disclosure required by Sec. 205.20(e)(3)(iii). [[Page 169]] However, Sec. 205.20(e)(1) still prohibits the sale or issuance of such certificate or card unless there are policies and procedures in place to provide a consumer with a reasonable opportunity to purchase the certificate or card with at least five years remaining until the certificate or card expiration date. In addition, under Sec. 205.20(e)(2), the funds may not expire before the certificate or card expiration date, even if the expiration date of the certificate or card bears an expiration date that is more than five years at the date of purchase. For purposes of this safe harbor, the date of manufacture is the date on which the certificate or card expiration date is printed on the certificate or card. 9. Relationship between Sec. Sec. 205.20(d)(2), (e)(3), and (f)(2). In addition to any disclosures required to be made under Sec. 205.20(e)(3), any applicable disclosures under Sec. Sec. 205.20(d)(2) and (f)(2) must also be provided on the certificate or card. 10. Replacement or remaining balance of an expired certificate or card. When a certificate or card expires, but the underlying funds have not expired, an issuer, at its option in accordance with applicable state law, may provide either a replacement certificate or card or otherwise provide the certificate or card holder, for example, by check, with the remaining balance on the certificate or card. In either case, the issuer may not charge a fee for the service. 11. Replacement of a lost or stolen certificate or card not required. Section 205.20(e)(4) does not require the replacement of a certificate or card that has been lost or stolen. 12. Date of issuance or loading. For purposes of Sec. 205.20(e)(2)(i), a certificate or card is not issued or loaded with funds until the certificate or card is activated for use. 13. Application of expiration date provisions after redemption of certificate or card. The requirement that funds underlying a certificate or card must not expire for at least five years from the date of issuance or date of last load ceases to apply once the certificate or card has been fully redeemed, even if the underlying funds are not used to contemporaneously purchase a specific good or service. For example, some certificates or cards can be used to purchase music, media, or virtual goods. Once redeemed by a consumer, the entire balance on the certificate or card is debited from the certificate or card and credited or transferred to another ``account'' established by the merchant of such goods or services. The consumer can then make purchases of songs, media, or virtual goods from the merchant using that ``account'' either at the time the value is transferred from the certificate or card or at a later time. Under these circumstances, once the card has been fully redeemed and the ``account'' credited with the amount of the underlying funds, the five-year minimum expiration term no longer applies to the underlying funds. However, if the consumer only partially redeems the value of the certificate or card, the five-year minimum expiration term requirement continues to apply to the funds remaining on the certificate or card. 20(f) Additional Disclosure Requirements for Gift Certificates or Cards 1. Reference to toll-free telephone number and Web site. If a certificate or card does not have any fees, the disclosure under Sec. 205.20(f)(2) is not required on the certificate or card. See, however, Sec. 205.20(e)(3)(ii). 2. Relationship to Sec. 226.20(e)(3)(ii). The same toll-free telephone number and Web site may be used to comply with Sec. Sec. 226.20(e)(3)(ii) and (f)(2). Neither a toll-free number nor a Web site must be maintained or disclosed if no fees are imposed in connection with a certificate or card, and both the certificate or card and underlying funds do not expire. 3. Relationship between Sec. Sec. 205.20(d)(2), (e)(3), and (f)(2). In addition to any disclosures required pursuant to Sec. 205.20(f)(2), any applicable disclosures under Sec. Sec. 205.20(d)(2) and (e)(3) must also be provided on the certificate or card. 20(g) Compliance Dates 1. Period of eligibility for loyalty, award, or promotional programs. For purposes of Sec. 205.20(g)(2), the period of eligibility is the time period during which a consumer must engage in a certain action or actions to meet the terms of eligibility for a loyalty, award, or promotional program and obtain the card, code, or other device. Under Sec. 205.20(g)(2), a gift card issued pursuant to a loyalty, award, or promotional program that began prior to August 22, 2010 need not state the disclosures in Sec. 205.20(a)(4)(iii) regardless of whether the consumer became eligible to receive the gift card prior to August 22, 2010, or after that date. For example, a product manufacturer may provide a $20 rebate card to a consumer if the consumer purchases a particular product and submits a fully completed entry between January 1, 2010 and December 31, 2010. Similarly, a merchant may provide a $20 gift card to a consumer if the consumer makes $200 worth of qualifying purchases between June 1, 2010 and October 30, 2010. Under both examples, gift cards provided pursuant to these loyalty, award, or promotional programs need not state the disclosures in Sec. 205.20(a)(4)(iii) to qualify for the exclusion in Sec. 205.20(b)(3) for loyalty, award, or promotional gift cards because the period of eligibility for each program began prior to August 22, 2010. 20(h) Temporary Exemption 20(h)(1)--Delayed Effective Date 1. Application to certificates or cards produced prior to April 1, 2010. Certificates or [[Page 170]] cards produced prior to April 1, 2010 may be sold to a consumer on or after August 22, 2010 without satisfying the requirements of Sec. 205.20(c)(3), (d)(2), (e)(1), (e)(3), and (f) through January 30, 2011, provided that issuers of such certificates or cards comply with the additional substantive and disclosure requirements of Sec. Sec. 205.20(h)(1)(i) through (iv). Issuers of certificates or cards produced prior to April 1, 2010 need not satisfy these additional requirements if the certificates or cards fully comply with the rule (Sec. Sec. 205.20(a) through (f)). For example, the in-store signage and other disclosures required by Sec. 205.20(h)(2) do not apply to gift cards produced prior to April 1, 2010 that do not have fees and do not expire, and which otherwise comply with the rule. 2. Expiration of temporary exemption. Certificates or cards produced prior to April 1, 2010 that do not fully comply with Sec. Sec. 205.20(a) through (f) may not be issued or sold to consumers on or after January 31, 2011. 20(h)(2)--Additional Disclosures 1. Disclosures through third parties. Issuers may make the disclosures required by Sec. 205.20(h)(2) through a third party, such as a retailer or merchant. For example, an issuer may have a merchant install in-store signage with the disclosures required by Sec. 205.20(h)(2) on the issuer's behalf. 2. General advertising disclosures. Section 205.20(h)(2) does not impose an obligation on the issuer to advertise gift certificates, store gift cards, or general-use prepaid cards. Appendix A--Model Disclosure Clauses and Forms 1. Review of forms. The Board will not review or approve disclosure forms or statements for financial institutions. However, the Board has issued model clauses for institutions to use in designing their disclosures. If an institution uses these clauses accurately to reflect its service, the institution is protected from liability for failure to make disclosures in proper form. 2. Use of forms. The appendix contains model disclosure clauses for optional use by financial institutions to facilitate compliance with the disclosure requirements of sections 205.5(b)(2) and (b)(3), 205.6(a), 205.7, 205.8(b), 205.14(b)(1)(ii), 205.15(d)(1) and (d)(2), and 205.18(c)(1) and (c)(2). The use of appropriate clauses in making disclosures will protect a financial institution from liability under sections 915 and 916 of the act provided the clauses accurately reflect the institution's EFT services. 3. Altering the clauses. Financial institutions may use clauses of their own design in conjunction with the Board's model clauses. The inapplicable words or portions of phrases in parentheses should be deleted. The catchlines are not part of the clauses and need not be used. Financial institutions may make alterations, substitutions, or additions in the clauses to reflect the services offered, such as technical changes (including the substitution of a trade name for the word ``card,'' deletion of inapplicable services, or substitution of lesser liability limits). Several of the model clauses include references to a telephone number and address. Where two or more of these clauses are used in a disclosure, the telephone number and address may be referenced and need not be repeated. [Reg. E, 61 FR 19686, May 2, 1996, as amended at 66 FR 13412, Mar. 6, 2001; 66 FR 15192, Mar. 16, 2001; 66 FR 17794, Apr. 4, 2001; 71 FR 1661, Jan. 10, 2006; 71 FR 69437, Dec. 1, 2006; 71 FR 1482, Jan. 10, 2006, 71 FR 51450, Aug. 30, 2006; 72 FR 36593, July 5, 2007; 72 FR 63456, Nov. 9, 2007; 74 FR 59055, Nov. 17, 2009; 75 FR 31671, June 4, 2010; 75 FR 16615, Apr. 1, 2010; 75 FR 50688, Aug. 17, 2010; 75 FR 66649, Oct. 29, 2010] PART 206_LIMITATIONS ON INTERBANK LIABILITIES (REGULATION F)--Table of Contents Sec. 206.1 Authority, purpose, and scope. 206.2 Definitions. 206.3 Prudential standards. 206.4 Credit exposure. 206.5 Capital levels of correspondents. 206.6 Waiver. Authority: 12 U.S.C. 371b-2 Source: Reg. F, 57 FR 60106, Dec. 18, 1992, unless otherwise noted. Sec. 206.1 Authority, purpose, and scope. (a) Authority and purpose. This part (Regulation F, 12 CFR part 206) is issued by the Board of Governors of the Federal Reserve System (Board) under authority of section 23 of the Federal Reserve Act (12 U.S.C. 371b-2). The purpose of this part is to limit the risks that the failure of a depository institution would pose to insured depository institutions. (b) Scope. This part applies to all depository institutions insured by the Federal Deposit Insurance Corporation. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003] Sec. 206.2 Definitions. As used in this part, unless the context requires otherwise: (a) Bank means an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act (12 [[Page 171]] U.S.C. 1813), and includes an insured national bank, state bank, District bank, or savings association, and an insured branch of a foreign bank. (b) Commonly-controlled correspondent means a correspondent that is commonly controlled with the bank and for which the bank is subject to liability under section 5(e) of the Federal Deposit Insurance Act. A correspondent is considered to be commonly controlled with the bank if: (1) 25 percent or more of any class of voting securities of the bank and the correspondent are owned, directly or indirectly, by the same depository institution or company; or (2) Either the bank or the correspondent owns 25 percent or more of any class of voting securities of the other. (c) Correspondent means a U.S. depository institution or a foreign bank, as defined in this part, to which a bank has exposure, but does not include a commonly controlled correspondent. (d) Exposure means the potential that an obligation will not be paid in a timely manner or in full. ``Exposure'' includes credit and liquidity risks, including operational risks, related to intraday and interday transactions. (e) Foreign bank means an institution that: (1) Is organized under the laws of a country other than the United States; (2) Engages in the business of banking; (3) Is recognized as a bank by the bank supervisory or monetary authorities of the country of the bank's organization; (4) Receives deposits to a substantial extent in the regular course of business; and (5) Has the power to accept demand deposits. (f) Primary federal supervisor has the same meaning as the term ``appropriate Federal banking agency'' in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (g) Total capital means the total of a bank's Tier 1 and Tier 2 capital under the risk-based capital guidelines provided by the bank's primary federal supervisor. For a qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), total capital means the bank's Tier 1 capital (as defined in Sec. 217.2 of this chapter and calculated in accordance with Sec. 217.12(b) of this chapter). For an insured branch of a foreign bank organized under the laws of a country that subscribes to the principles of the Basel Capital Accord, ``total capital'' means total Tier 1 and Tier 2 capital as calculated under the standards of that country. For an insured branch of a foreign bank organized under the laws of a country that does not subscribe to the principles of the Basel Capital Accord (Accord), ``total capital'' means total Tier 1 and Tier 2 capital as calculated under the provisions of the Accord. (h) U.S. depository institution means a bank, as defined in Sec. 206.2(a) of this part, other than an insured branch of a foreign bank. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003; 84 FR 61796, Nov. 13, 2019] Sec. 206.3 Prudential standards. (a) General. A bank shall establish and maintain written policies and procedures to prevent excessive exposure to any individual correspondent in relation to the condition of the correspondent. (b) Standards for selecting correspondents. (1) A bank shall establish policies and procedures that take into account credit and liquidity risks, including operational risks, in selecting correspondents and terminating those relationships. (2) Where exposure to a correspondent is significant, the policies and procedures shall require periodic reviews of the financial condition of the correspondent and shall take into account any deterioration in the correspondent's financial condition. Factors bearing on the financial condition of the correspondent include the capital level of the correspondent, level of nonaccrual and past due loans and leases, level of earnings, and other factors affecting the financial condition of the correspondent. Where public information on the financial condition of the correspondent is available, a bank may base its review of the financial [[Page 172]] condition of a correspondent on such information, and is not required to obtain non-public information for its review. However, for those foreign banks for which there is no public source of financial information, a bank will be required to obtain information for its review. (3) A bank may rely on another party, such as a bank rating agency or the bank's holding company, to assess the financial condition of or select a correspondent, provided that the bank's board of directors has reviewed and approved the general assessment or selection criteria used by that party. (c) Internal limits on exposure. (1) Where the financial condition of the correspondent and the form or maturity of the exposure create a significant risk that payments will not be made in full or in a timely manner, a bank's policies and procedures shall limit the bank's exposure to the correspondent, either by the establishment of internal limits or by other means. Limits shall be consistent with the risk undertaken, considering the financial condition and the form and maturity of exposure to the correspondent. Limits may be fixed as to amount or flexible, based on such factors as the monitoring of exposure and the financial condition of the correspondent. Different limits may be set for different forms of exposure, different products, and different maturities. (2) A bank shall structure transactions with a correspondent or monitor exposure to a correspondent, directly or through another party, to ensure that its exposure ordinarily does not exceed the bank's internal limits, including limits established for credit exposure, except for occasional excesses resulting from unusual market disturbances, market movements favorable to the bank, increases in activity, operational problems, or other unusual circumstances. Generally, monitoring may be done on a retrospective basis. The level of monitoring required depends on: (i) The extent to which exposure approaches the bank's internal limits; (ii) The volatility of the exposure; and (iii) The financial condition of the correspondent. (3) A bank shall establish appropriate procedures to address excesses over its internal limits. (d) Review by board of directors. The policies and procedures established under this section shall be reviewed and approved by the bank's board of directors at least annually. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003] Sec. 206.4 Credit exposure. (a) Limits on credit exposure. (1) The policies and procedures on exposure established by a bank under Sec. 206.3(c) of this part shall limit a bank's interday credit exposure to an individual correspondent to not more than 25 percent of the bank's total capital, unless the bank can demonstrate that its correspondent is at least adequately capitalized, as defined in Sec. 206.5(a) of this part. (2) Where a bank is no longer able to demonstrate that a correspondent is at least adequately capitalized for the purposes of Sec. 206.4(a) of this part, including where the bank cannot obtain adequate information concerning the capital ratios of the correspondent, the bank shall reduce its credit exposure to comply with the requirements of Sec. 206.4(a)(1) of this part within 120 days after the date when the current Report of Condition and Income or other relevant report normally would be available. (b) Calculation of credit exposure. Except as provided in Sec. Sec. 206.4 (c) and (d) of this part, the credit exposure of a bank to a correspondent shall consist of the bank's assets and off-balance sheet items that are subject to capital requirements under the capital adequacy guidelines of the bank's primary federal supervisor, and that involve claims on the correspondent or capital instruments issued by the correspondent. For this purpose, off-balance sheet items shall be valued on the basis of current exposure. The term ``credit exposure'' does not include exposure related to the settlement of transactions, intraday exposure, transactions in an agency or similar capacity where losses will be passed back to the principal or other party, or other [[Page 173]] sources of exposure that are not covered by the capital adequacy guidelines. (c) Netting. Transactions covered by netting agreements that are valid and enforceable under all applicable laws may be netted in calculating credit exposure. (d) Exclusions. A bank may exclude the following from the calculation of credit exposure to a correspondent: (1) Transactions, including reverse repurchase agreements, to the extent that the transactions are secured by government securities or readily marketable collateral, as defined in paragraph (f) of this section, based on the current market value of the collateral; (2) The proceeds of checks and other cash items deposited in an account at a correspondent that are not yet available for withdrawal; (3) Quality assets, as defined in paragraph (f) of this section, on which the correspondent is secondarily liable, or obligations of the correspondent on which a creditworthy obligor in addition to the correspondent is available, including but not limited to: (i) Loans to third parties secured by stock or debt obligations of the correspondent; (ii) Loans to third parties purchased from the correspondent with recourse; (iii) Loans or obligations of third parties backed by stand-by letters of credit issued by the correspondent; or (iv) Obligations of the correspondent backed by stand-by letters of credit issued by a creditworthy third party; (4) exposure that results from the merger with or acquisition of another bank for one year after that merger or acquisition is consummated; and (5) The portion of the bank's exposure to the correspondent that is covered by federal deposit insurance. (e) Credit exposure of subsidiaries. In calculating credit exposure to a correspondent under this part, a bank shall include credit exposure to the correspondent of any entity that the bank is required to consolidate on its Report of Condition and Income or Thrift Financial Report. (f) Definitions. As used in this section: (1) Government securities means obligations of, or obligations fully guaranteed as to principal and interest by, the United States government or any department, agency, bureau, board, commission, or establishment of the United States, or any corporation wholly owned, directly or indirectly, by the United States. (2) Readily marketable collateral means financial instruments or bullion that may be sold in ordinary circumstances with reasonable promptness at a fair market value determined by quotations based on actual transactions on an auction or a similarly available daily bid- ask-price market. (3)(i) Quality asset means an asset: (A) That is not in a nonaccrual status; (B) On which principal or interest is not more than thirty days past due; and (C) Whose terms have not been renegotiated or compromised due to the deteriorating financial conditions of the additional obligor. (ii) An asset is not considered a ``quality asset'' if any other loans to the primary obligor on the asset have been classified as ``substandard,'' ``doubtful,'' or ``loss,'' or treated as ``other loans specially mentioned'' in the most recent report of examination or inspection of the bank or an affiliate prepared by either a federal or a state supervisory agency. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003] Sec. 206.5 Capital levels of correspondents. (a) Adequately capitalized correspondents.\1\ For the purpose of this part, a correspondent is considered adequately capitalized if the correspondent has: --------------------------------------------------------------------------- \1\ As used in this part, the term ``adequately capitalized'' is similar but not identical to the definition of that term as used for the purposes of the prompt corrective action standards. See, e.g. 12 CFR part 208, subpart D. --------------------------------------------------------------------------- (1) A total risk-based capital ratio, as defined in paragraph (e)(1) of this section, of 8.0 percent or greater; (2) A Tier 1 risk-based capital ratio, as defined in paragraph (e)(2) of this section, of 4.0 percent or greater; and (3) A leverage ratio, as defined in paragraph (e)(3) of this section, of 4.0 percent or greater. [[Page 174]] (4) Notwithstanding paragraphs (a)(1) through (3) of this section, a qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio (as defined in Sec. 217.12 of this chapter) is considered to have met the minimum capital requirements in this paragraph (a). (b) Frequency of monitoring capital levels. A bank shall obtain information to demonstrate that a correspondent is at least adequately capitalized on a quarterly basis, either from the most recently available Report of Condition and Income, Thrift Financial Report, financial statement, or bank rating report for the correspondent. For a foreign bank correspondent for which quarterly financial statements or reports are not available, a bank shall obtain such information on as frequent a basis as such information is available. Information obtained directly from a correspondent for the purpose of this section should be based on the most recently available Report of Condition and Income, Thrift Financial Report, or financial statement of the correspondent. (c) Foreign banks. A correspondent that is a foreign bank may be considered adequately capitalized under this section without regard to the minimum leverage ratio required under paragraph (a)(3) of this section. (d) Reliance on information. A bank may rely on information as to the capital levels of a correspondent obtained from the correspondent, a bank rating agency, or other party that it reasonably believes to be accurate. (e) Definitions. For the purposes of this section: (1) Total risk-based capital ratio means the ratio of qualifying total capital to weighted risk assets. (2) Tier 1 risk-based capital ratio means the ratio of Tier 1 capital to weighted risk assets. (3) Leverage ratio means the ratio of Tier 1 capital to average total consolidated assets, as calculated in accordance with the capital adequacy guidelines of the correspondent's primary federal supervisor. (f) Calculation of capital ratios. (1) For a correspondent that is a U.S. depository institution, the ratios shall be calculated in accordance with the capital adequacy guidelines of the correspondent's primary federal supervisor. (2) For a correspondent that is a foreign bank organized in a country that has adopted the risk-based framework of the Basel Capital Accord, the ratios shall be calculated in accordance with the capital adequacy guidelines of the appropriate supervisory authority of the country in which the correspondent is chartered. (3) For a correspondent that is a foreign bank organized in a country that has not adopted the risk-based framework of the Basel Capital Accord, the ratios shall be calculated in accordance with the provisions of the Basel Capital Accord. [Reg. F, 57 FR 60106, Dec. 18, 1992, as amended at 68 FR 53283, Sept. 10, 2003; 84 FR 61796, Nov. 13, 2019] Sec. 206.6 Waiver. The Board may waive the application of Sec. 206.4(a) of this part to a bank if the primary Federal supervisor of the bank advises the Board that the bank is not reasonably able to obtain necessary services, including payment-related services and placement of funds, without incurring exposure to a correspondent in excess of the otherwise applicable limit. PART 207_DISCLOSURE AND REPORTING OF CRA-RELATED AGREEMENTS (REGULATION G)--Table of Contents Sec. 207.1 Purpose and scope of this part. 207.2 Definition of covered agreement. 207.3 CRA communications. 207.4 Fulfillment of the CRA. 207.5 Related agreements considered a single agreement. 207.6 Disclosure of covered agreements. 207.7 Annual reports. 207.8 Release of information under FOIA. 207.9 Compliance provisions. 207.10 Transition provisions. 207.11 Other definitions and rules of construction used in this part. Authority: 12 U.S.C. 1831y. Source: Reg. G, 66 FR 2092, Jan. 10, 2001, unless otherwise noted. [[Page 175]] Sec. 207.1 Purpose and scope of this part. (a) General. This part implements section 711 of the Gramm-Leach- Bliley Act (12 U.S.C. 1831y). That section requires any nongovernmental entity or person, insured depository institution, or affiliate of an insured depository institution that enters into a covered agreement to-- (1) Make the covered agreement available to the public and the appropriate Federal banking agency; and (2) File an annual report with the appropriate Federal banking agency concerning the covered agreement. (b) Scope of this part. The provisions of this part apply to-- (1) State member banks and their subsidiaries; (2) Bank holding companies; (3) Savings and loan holding companies; (4) Affiliates of bank holding companies and savings and loan holding companies, other than banks, savings associations and subsidiaries of banks and savings associations; and (5) Nongovernmental entities or persons that enter into covered agreements with any company listed in paragraph (b)(1) through (4) of this section. (c) Relation to Community Reinvestment Act. This part does not affect in any way the Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.), the Board's Regulation BB (12 CFR part 228), or the Board's interpretations or administration of that Act or regulation. (d) Examples. (1) The examples in this part are not exclusive. Compliance with an example, to the extent applicable, constitutes compliance with this part. (2) Examples in a paragraph illustrate only the issue described in the paragraph and do not illustrate any other issues that may arise in this part. [Reg. G, 66 FR 2092, Jan. 10, 2001, as amended at 76 FR 56530, Sept. 13, 2011] Sec. 207.2 Definition of covered agreement. (a) General definition of covered agreement. A covered agreement is any contract, arrangement, or understanding that meets all of the following criteria-- (1) The agreement is in writing. (2) The parties to the agreement include-- (i) One or more insured depository institutions or affiliates of an insured depository institution; and (ii) One or more nongovernmental entities or persons (referred to hereafter as NGEPs). (3) The agreement provides for the insured depository institution or any affiliate to-- (i) Provide to one or more individuals or entities (whether or not parties to the agreement) cash payments, grants, or other consideration (except loans) that have an aggregate value of more than $10,000 in any calendar year; or (ii) Make to one or more individuals or entities (whether or not parties to the agreement) loans that have an aggregate principal amount of more than $50,000 in any calendar year. (4) The agreement is made pursuant to, or in connection with, the fulfillment of the Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) (CRA), as defined in Sec. 207.4. (5) The agreement is with a NGEP that has had a CRA communication as described in Sec. 207.3 prior to entering into the agreement. (b) Examples concerning written arrangements or understandings--(1) Example 1. A NGEP meets with an insured depository institution and states that the institution needs to make more community development investments in the NGEP's community. The NGEP and insured depository institution do not reach an agreement concerning the community development investments the institution should make in the community, and the parties do not reach any mutual arrangement or understanding. Two weeks later, the institution unilaterally issues a press release announcing that it has established a general goal of making $100 million of community development grants in low- and moderate-income neighborhoods served by the insured depository institution over the next 5 years. The NGEP is not identified in the press release. The press release is not a written arrangement or understanding. [[Page 176]] (2) Example 2. A NGEP meets with an insured depository institution and states that the institution needs to offer new loan programs in the NGEP's community. The NGEP and the insured depository institution reach a mutual arrangement or understanding that the institution will provide additional loans in the NGEP's community. The institution tells the NGEP that it will issue a press release announcing the program. Later, the insured depository institution issues a press release announcing the loan program. The press release incorporates the key terms of the understanding reached between the NGEP and the insured depository institution. The written press release reflects the mutual arrangement or understanding of the NGEP and the insured depository institution and is, therefore, a written arrangement or understanding. (3) Example 3. An NGEP sends a letter to an insured depository institution requesting that the institution provide a $15,000 grant to the NGEP. The insured depository institution responds in writing and agrees to provide the grant in connection with its annual grant program. The exchange of letters constitutes a written arrangement or understanding. (c) Loan agreements that are not covered agreements. A covered agreement does not include-- (1) Any individual loan that is secured by real estate; or (2) Any specific contract or commitment for a loan or extension of credit to an individual, business, farm, or other entity, or group of such individuals or entities, if-- (i) The funds are loaned at rates that are not substantially below market rates; and (ii) The loan application or other loan documentation does not indicate that the borrower intends or is authorized to use the borrowed funds to make a loan or extension of credit to one or more third parties. (d) Examples concerning loan agreements--(1) Example 1. An insured depository institution provides an organization with a $1 million loan that is documented in writing and is secured by real estate owned or to- be-acquired by the organization. The agreement is an individual mortgage loan and is exempt from coverage under paragraph (c)(1) of this section, regardless of the interest rate on the loan or whether the organization intends or is authorized to re-loan the funds to a third party. (2) Example 2. An insured depository institution commits to provide a $500,000 line of credit to a small business that is documented by a written agreement. The loan is made at rates that are within the range of rates offered by the institution to similarly situated small businesses in the market and the loan documentation does not indicate that the small business intends or is authorized to re-lend the borrowed funds. The agreement is exempt from coverage under paragraph (c)(2) of this section. (3) Example 3. An insured depository institution offers small business loans that are guaranteed by the Small Business Administration (SBA). A small business obtains a $75,000 loan, documented in writing, from the institution under the institution's SBA loan program. The loan documentation does not indicate that the borrower intends or is authorized to re-lend the funds. Although the rate charged on the loan is well below that charged by the institution on commercial loans, the rate is within the range of rates that the institution would charge a similarly situated small business for a similar loan under the SBA loan program. Accordingly, the loan is not made at substantially below market rates and is exempt from coverage under paragraph (c)(2) of this section. (4) Example 4. A bank holding company enters into a written agreement with a community development organization that provides that insured depository institutions owned by the bank holding company will make $250 million in small business loans in the community over the next 5 years. The written agreement is not a specific contract or commitment for a loan or an extension of credit and, thus, is not exempt from coverage under paragraph (c)(2) of this section. Each small business loan made by the insured depository institution pursuant to this general commitment would, however, be exempt from coverage if the loan is [[Page 177]] made at rates that are not substantially below market rates and the loan documentation does not indicate that the borrower intended or was authorized to re-lend the funds. (e) Agreements that include exempt loan agreements. If an agreement includes a loan, extension of credit or loan commitment that, if documented separately, would be exempt under paragraph (c) of this section, the exempt loan, extension of credit or loan commitment may be excluded for purposes of determining whether the agreement is a covered agreement. (f) Determining annual value of agreements that lack schedule of disbursements. For purposes of paragraph (a)(3) of this section, a multi-year agreement that does not include a schedule for the disbursement of payments, grants, loans or other consideration by the insured depository institution or affiliate, is considered to have a value in the first year of the agreement equal to all payments, grants, loans and other consideration to be provided at any time under the agreement. Sec. 207.3 CRA communications. (a) Definition of CRA communication. A CRA communication is any of the following-- (1) Any written or oral comment or testimony provided to a Federal banking agency concerning the adequacy of the performance under the CRA of the insured depository institution, any affiliated insured depository institution, or any CRA affiliate. (2) Any written comment submitted to the insured depository institution that discusses the adequacy of the performance under the CRA of the institution and must be included in the institution's CRA public file. (3) Any discussion or other contact with the insured depository institution or any affiliate about-- (i) Providing (or refraining from providing) written or oral comments or testimony to any Federal banking agency concerning the adequacy of the performance under the CRA of the insured depository institution, any affiliated insured depository institution, or any CRA affiliate; (ii) Providing (or refraining from providing) written comments to the insured depository institution that concern the adequacy of the institution's performance under the CRA and must be included in the institution's CRA public file; or (iii) The adequacy of the performance under the CRA of the insured depository institution, any affiliated insured depository institution, or any CRA affiliate. (b) Discussions or contacts that are not CRA communications--(1) Timing of contacts with a Federal banking agency. An oral or written communication with a Federal banking agency is not a CRA communication if it occurred more than 3 years before the parties entered into the agreement. (2) Timing of contacts with insured depository institutions and affiliates. A communication with an insured depository institution or affiliate is not a CRA communication if the communication occurred-- (i) More than 3 years before the parties entered into the agreement, in the case of any written communication; (ii) More than 3 years before the parties entered into the agreement, in the case of any oral communication in which the NGEP discusses providing (or refraining from providing) comments or testimony to a Federal banking agency or written comments that must be included in the institution's CRA public file in connection with a request to, or agreement by, the institution or affiliate to take (or refrain from taking) any action that is in fulfillment of the CRA; or (iii) More than 1 year before the parties entered into the agreement, in the case of any other oral communication not described in paragraph (b)(2)(ii) of this section. (3) Knowledge of communication by insured depository institution or affiliate. (i) A communication is only a CRA communication under paragraph (a) of this section if the insured depository institution or its affiliate has knowledge of the communication under this paragraph (b)(3)(ii) or (b)(3)(iii) of this section. (ii) Communication with insured depository institution or affiliate. An insured depository institution or affiliate has knowledge of a communication by the NGEP to the institution or its affiliate [[Page 178]] under this paragraph only if one of the following representatives of the insured depository institution or any affiliate has knowledge of the communication. (A) An employee who approves, directs, authorizes, or negotiates the agreement with the NGEP; or (B) An employee designated with responsibility for compliance with the CRA or executive officer if the employee or executive officer knows that the institution or affiliate is negotiating, intends to negotiate, or has been informed by the NGEP that it expects to request that the institution or affiliate negotiate an agreement with the NGEP. (iii) Other communications. An insured depository institution or affiliate is deemed to have knowledge of-- (A) Any testimony provided to a Federal banking agency at a public meeting or hearing; (B) Any comment submitted to a Federal banking agency that is conveyed in writing by the agency to the insured depository institution or affiliate; and (C) Any written comment submitted to the insured depository institution that must be and is included in the institution's CRA public file. (4) Communication where NGEP has knowledge. A NGEP has a CRA communication with an insured depository institution or affiliate only if any of the following individuals has knowledge of the communication-- (i) A director, employee, or member of the NGEP who approves, directs, authorizes, or negotiates the agreement with the insured depository institution or affiliate; (ii) A person who functions as an executive officer of the NGEP and who knows that the NGEP is negotiating or intends to negotiate an agreement with the insured depository institution or affiliate; or (iii) Where the NGEP is an individual, the NGEP. (c) Examples of CRA communications--(1) Examples of actions that are CRA communications. The following are examples of CRA communications. These examples are not exclusive and assume that the communication occurs within the relevant time period as described in paragraph (b)(1) or (b)(2) of this section and the appropriate representatives have knowledge of the communication as specified in paragraphs (b)(3) and (b)(4) of this section. (i) Example 1. A NGEP files a written comment with a Federal banking agency that states than an insured depository institution successfully addresses the credit needs of its community. The written comment is in response to a general request from the agency for comments on an application of the insured depository institution to open a new branch and a copy of the comment is provided to the institution. (ii) Example 2. A NGEP meets with an executive officer of an insured depository institution and states that the institution must improve its CRA performance. (iii) Example 3. A NGEP meets with an executive officer of an insured depository institution and states that the institution needs to make more mortgage loans in low- and moderate-income neighborhoods in its community. (iv) Example 4. A bank holding company files an application with a Federal banking agency to acquire an insured depository institution. Two weeks later, the NGEP meets with an executive officer of the bank holding company to discuss the adequacy of the performance under the CRA of the target insured depository institution. The insured depository institution was an affiliate of the bank holding company at the time the NGEP met with the target institution. (See Sec. 207.11(a).) Accordingly, the NGEP had a CRA communication with an affiliate of the bank holding company. (2) Examples of actions that are not CRA communications. The following are examples of actions that are not by themselves CRA communications. These examples are not exclusive. (i) Example 1. A NGEP provides to a Federal banking agency comments or testimony concerning an insured depository institution or affiliate in response to a direct request by the agency for comments or testimony from that NGEP. Direct requests for comments or testimony do not include a general invitation by a Federal banking agency for comments or testimony from the public in connection with a [[Page 179]] CRA performance evaluation of, or application for a deposit facility (as defined in section 803 of the CRA (12 U.S.C. 2902(3)) by, an insured depository institution or an application by a company to acquire an insured depository institution. (ii) Example 2. A NGEP makes a statement concerning an insured depository institution or affiliate at a widely attended conference or seminar regarding a general topic. A public or private meeting, public hearing, or other meeting regarding one or more specific institutions, affiliates or transactions involving an application for a deposit facility is not considered a widely attended conference or seminar. (iii) Example 3. A NGEP, such as a civil rights group, community group providing housing and other services in low- and moderate-income neighborhoods, veterans organization, community theater group, or youth organization, sends a fundraising letter to insured depository institutions and to other businesses in its community. The letter encourages all businesses in the community to meet their obligation to assist in making the local community a better place to live and work by supporting the fundraising efforts of the NGEP. (iv) Example 4. A NGEP discusses with an insured depository institution or affiliate whether particular loans, services, investments, community development activities, or other activities are generally eligible for consideration by a Federal banking agency under the CRA. The NGEP and insured depository institution or affiliate do not discuss the adequacy of the CRA performance of the insured depository institution or affiliate. (v) Example 5. A NGEP engaged in the sale or purchase of loans in the secondary market sends a general offering circular to financial institutions offering to sell or purchase a portfolio of loans. An insured depository institution that receives the offering circular discusses with the NGEP the types of loans included in the loan pool, whether such loans are generally eligible for consideration under the CRA, and which loans are made to borrowers in the institution's local community. The NGEP and insured depository institution do not discuss the adequacy of the institution's CRA performance. (d) Multiparty covered agreements. (1) A NGEP that is a party to a covered agreement that involves multiple NGEPs is not required to comply with the requirements of this part if-- (i) The NGEP has not had a CRA communication; and (ii) No representative of the NGEP identified in paragraph (b)(4) of this section has knowledge at the time of the agreement that another NGEP that is a party to the agreement has had a CRA communication. (2) An insured depository institution or affiliate that is a party to a covered agreement that involves multiple insured depository institutions or affiliates is not required to comply with the disclosure and annual reporting requirements in Sec. Sec. 207.6 and 207.7 if-- (i) No NGEP that is a party to the agreement has had a CRA communication concerning the insured depository institution or any affiliate; and (ii) No representative of the insured depository institution or any affiliate identified in paragraph (b)(3) of this section has knowledge at the time of the agreement that an NGEP that is a party to the agreement has had a CRA communication concerning any other insured depository institution or affiliate that is a party to the agreement. Sec. 207.4 Fulfillment of the CRA. (a) List of factors that are in fulfillment of the CRA. Fulfillment of the CRA, for purposes of this part, means the following list of factors-- (1) Comments to a Federal banking agency or included in CRA public file. Providing or refraining from providing written or oral comments or testimony to any Federal banking agency concerning the performance under the CRA of an insured depository institution or CRA affiliate that is a party to the agreement or an affiliate of a party to the agreement or written comments that are required to be included in the CRA public file of any such insured depository institution; or (2) Activities given favorable CRA consideration. Performing any of the following activities if the activity is of [[Page 180]] the type that is likely to receive favorable consideration by a Federal banking agency in evaluating the performance under the CRA of the insured depository institution that is a party to the agreement or an affiliate of a party to the agreement-- (i) Home-purchase, home-improvement, small business, small farm, community development, and consumer lending, as described in Sec. 228.22 of Regulation BB (12 CFR 228.22), including loan purchases, loan commitments, and letters of credit; (ii) Making investments, deposits, or grants, or acquiring membership shares, that have as their primary purpose community development, as described in Sec. 228.23 of Regulation BB (12 CFR 228.23); (iii) Delivering retail banking services, as described in Sec. 228.24(d) of Regulation BB (12 CFR 228.24(d)); (iv) Providing community development services, as described in Sec. 228.24(e) of Regulation BB (12 CFR 228.24(e)); (v) In the case of a wholesale or limited-purpose insured depository institution, community development lending, including originating and purchasing loans and making loan commitments and letters of credit, making qualified investments, or providing community development services, as described in Sec. 228.25(c) of Regulation BB (12 CFR 228.25(c)); (vi) In the case of a small insured depository institution, any lending or other activity described in Sec. 228.26(a) of Regulation BB (12 CFR 228.26(a)); or (vii) In the case of an insured depository institution that is evaluated on the basis of a strategic plan, any element of the strategic plan, as described in Sec. 228.27(f) of Regulation BB (12 CFR 228.27(f)). (b) Agreements relating to activities of CRA affiliates. An insured depository institution or affiliate that is a party to a covered agreement that concerns any activity described in paragraph (a) of this section of a CRA affiliate must, prior to the time the agreement is entered into, notify each NGEP that is a party to the agreement that the agreement concerns a CRA affiliate. Sec. 207.5 Related agreements considered a single agreement. The following rules must be applied in determining whether an agreement is a covered agreement under Sec. 207.2. (a) Agreements entered into by same parties. All written agreements to which an insured depository institution or an affiliate of the insured depository institution is a party shall be considered to be a single agreement if the agreements-- (1) Are entered into with the same NGEP; (2) Were entered into within the same 12-month period; and (3) Are each in fulfillment of the CRA. (b) Substantively related contracts. All written contracts to which an insured depository institution or an affiliate of the insured depository institution is a party shall be considered to be a single agreement, without regard to whether the other parties to the contracts are the same or whether each such contract is in fulfillment of the CRA, if the contracts were negotiated in a coordinated fashion and a NGEP is a party to each contract. Sec. 207.6 Disclosure of covered agreements. (a) Applicability date. This section applies only to covered agreements entered into after November 12, 1999. (b) Disclosure of covered agreements to the public--(1) Disclosure required. Each NGEP and each insured depository institution or affiliate that enters into a covered agreement must promptly make a copy of the covered agreement available to any individual or entity upon request. (2) Nondisclosure of confidential and proprietary information permitted. In responding to a request for a covered agreement from any individual or entity under paragraph (b)(1) of this section, a NGEP, insured depository institution, or affiliate may withhold from public disclosure confidential or proprietary information that the party believes the relevant supervisory agency could withhold from disclosure under the Freedom of Information Act (5 U.S.C. 552 et seq.) (FOIA). (3) Information that must be disclosed. Notwithstanding paragraph (b)(2) of [[Page 181]] this section, a party must disclose any of the following information that is contained in a covered agreement-- (i) The names and addresses of the parties to the agreement; (ii) The amount of any payments, fees, loans, or other consideration to be made or provided by any party to the agreement; (iii) Any description of how the funds or other resources provided under the agreement are to be used; (iv) The term of the agreement (if the agreement establishes a term); and (v) Any other information that the relevant supervisory agency determines is not properly exempt from public disclosure. (4) Request for review of withheld information. Any individual or entity may request that the relevant supervisory agency review whether any information in a covered agreement withheld by a party must be disclosed. Any requests for agency review of withheld information must be filed, and will be processed in accordance with, the relevant supervisory agency's rules concerning the availability of information (see Sec. 261.12 of the Board's Rules Regarding the Availability of Information (12 CFR 261.12)). (5) Duration of obligation. The obligation to disclose a covered agreement to the public terminates 12 months after the end of the term of the agreement. (6) Reasonable copy and mailing fees. Each NGEP and each insured depository institution or affiliate may charge an individual or entity that requests a copy of a covered agreement a reasonable fee not to exceed the cost of copying and mailing the agreement. (7) Use of CRA public file by insured depository institution or affiliate. An insured depository institution and any affiliate of an insured depository institution may fulfill its obligation under this paragraph (b) by placing a copy of the covered agreement in the insured depository institution's CRA public file if the institution makes the agreement available in accordance with the procedures set forth in Sec. 228.43 of Regulation BB (12 CFR 228.43). (c) Disclosure by NGEPs of covered agreements to the relevant supervisory agency. (1) Each NGEP that is a party to a covered agreement must provide the following within 30 days of receiving a request from the relevant supervisory agency-- (i) A complete copy of the agreement; and (ii) In the event the NGEP proposes the withholding of any information contained in the agreement in accordance with paragraph (b)(2) of this section, a public version of the agreement that excludes such information and an explanation justifying the exclusions. Any public version must include the information described in paragraph (b)(3) of this section. (2) The obligation of a NGEP to provide a covered agreement to the relevant supervisory agency terminates 12 months after the end of the term of the covered agreement. (d) Disclosure by insured depository institution or affiliate of covered agreements to the relevant supervisory agency--(1) In general. Within 60 days of the end of each calendar quarter, each insured depository institution and affiliate must provide each relevant supervisory agency with-- (i)(A) A complete copy of each covered agreement entered into by the insured depository institution or affiliate during the calendar quarter; and (B) In the event the institution or affiliate proposes the withholding of any information contained in the agreement in accordance with paragraph (b)(2) of this section, a public version of the agreement that excludes such information (other than any information described in paragraph (b)(3) of this section) and an explanation justifying the exclusions; or (ii) A list of all covered agreements entered into by the insured depository institution or affiliate during the calendar quarter that contains-- (A) The name and address of each insured depository institution or affiliate that is a party to the agreement; (B) The name and address of each NGEP that is a party to the agreement; (C) The date the agreement was entered into; (D) The estimated total value of all payments, fees, loans and other consideration to be provided by the institution or any affiliate of the institution under the agreement; and [[Page 182]] (E) The date the agreement terminates. (2) Prompt filing of covered agreements contained in list required. (i) If an insured depository institution or affiliate files a list of the covered agreements entered into by the institution or affiliate pursuant to paragraph (d)(1)(ii) of this section, the institution or affiliate must provide any relevant supervisory agency a complete copy and public version of any covered agreement referenced in the list within 7 calendar days of receiving a request from the agency for a copy of the agreement. (ii) The obligation of an insured depository institution or affiliate to provide a covered agreement to the relevant supervisory agency under this paragraph (d)(2) terminates 36 months after the end of the term of the agreement. (3) Joint filings. In the event that 2 or more insured depository institutions or affiliates are parties to a covered agreement, the insured depository institution(s) and affiliate(s) may jointly file the documents required by this paragraph (d). Any joint filing must identify the insured depository institution(s) and affiliate(s) for whom the filings are being made. Sec. 207.7 Annual reports. (a) Applicability date. This section applies only to covered agreements entered into on or after May 12, 2000. (b) Annual report required. Each NGEP and each insured depository institution or affiliate that is a party to a covered agreement must file an annual report with each relevant supervisory agency concerning the disbursement, receipt, and uses of funds or other resources under the covered agreement. (c) Duration of reporting requirement--(1) NGEPs. A NGEP must file an annual report for a covered agreement for any fiscal year in which the NGEP receives or uses funds or other resources under the agreement. (2) Insured depository institutions and affiliates. An insured depository institution or affiliate must file an annual report for a covered agreement for any fiscal year in which the institution or affiliate-- (i) provides or receives any payments, fees, or loans under the covered agreement that must be reported under paragraphs (e)(1)(iii) and (iv) of this section; or (ii) has data to report on loans, investments, and services provided by a party to the covered agreement under the covered agreement under paragraph (e)(1)(vi) of this section. (d) Annual reports filed by NGEP--(1) Contents of report. The annual report filed by a NGEP under this section must include the following-- (i) The name and mailing address of the NGEP filing the report; (ii) Information sufficient to identify the covered agreement for which the annual report is being filed, such as by providing the names of the parties to the agreement and the date the agreement was entered into or by providing a copy of the agreement; (iii) The amount of funds or resources received under the covered agreement during the fiscal year; and (iv) A detailed, itemized list of how any funds or resources received by the NGEP under the covered agreement were used during the fiscal year, including the total amount used for-- (A) Compensation of officers, directors, and employees; (B) Administrative expenses; (C) Travel expenses; (D) Entertainment expenses; (E) Payment of consulting and professional fees; and (F) Other expenses and uses (specify expense or use). (2) More detailed reporting of uses of funds or resources permitted--(i) In general. If a NGEP allocated and used funds received under a covered agreement for a specific purpose, the NGEP may fulfill the requirements of paragraph (d)(1)(iv) of this section with respect to such funds by providing-- (A) A brief description of each specific purpose for which the funds or other resources were used; and (B) The amount of funds or resources used during the fiscal year for each specific purpose. (ii) Specific purpose defined. A NGEP allocates and uses funds for a specific purpose if the NGEP receives and uses the funds for a purpose that is more [[Page 183]] specific and limited than the categories listed in paragraph (d)(1)(iv) of this section. (3) Use of other reports. The annual report filed by a NGEP may consist of or incorporate a report prepared for any other purpose, such as the Internal Revenue Service Return of Organization Exempt From Income Tax on Form 990, or any other Internal Revenue Service form, state tax form, report to members or shareholders, audited or unaudited financial statements, audit report, or other report, so long as the annual report filed by the NGEP contains all of the information required by this paragraph (d). (4) Consolidated reports permitted. A NGEP that is a party to 2 or more covered agreements may file with each relevant supervisory agency a single consolidated annual report covering all the covered agreements. Any consolidated report must contain all the information required by this paragraph (d). The information reported under paragraphs (d)(1)(iv) and (d)(2) of this section may be reported on an aggregate basis for all covered agreements. (5) Examples of annual report requirements for NGEPs--(i) Example 1. A NGEP receives an unrestricted grant of $15,000 under a covered agreement, includes the funds in its general operating budget and uses the funds during its fiscal year. The NGEP's annual report for the fiscal year must provide the name and mailing address of the NGEP, information sufficient to identify the covered agreement, and state that the NGEP received $15,000 during the fiscal year. The report must also indicate the total expenditures made by the NGEP during the fiscal year for compensation, administrative expenses, travel expenses, entertainment expenses, consulting and professional fees, and other expenses and uses. The NGEP's annual report may provide this information by submitting an Internal Revenue Service Form 990 that includes the required information. If the Internal Revenue Service Form does not include information for all of the required categories listed in this part, the NGEP must report the total expenditures in the remaining categories either by providing that information directly or by providing another form or report that includes the required information. (ii) Example 2. An organization receives $15,000 from an insured depository institution under a covered agreement and allocates and uses the $15,000 during the fiscal year to purchase computer equipment to support its functions. The organization's annual report must include the name and address of the organization, information sufficient to identify the agreement, and a statement that the organization received $15,000 during the year. In addition, since the organization allocated and used the funds for a specific purpose that is more narrow and limited than the categories of expenses included in the detailed, itemized list of expenses, the organization would have the option of providing either the total amount it used during the year for each category of expenses included in paragraph (d)(1)(iv) of this section, or a statement that it used the $15,000 to purchase computer equipment and a brief description of the equipment purchased. (iii) Example 3. A community group receives $50,000 from an insured depository institution under a covered agreement. During its fiscal year, the community group specifically allocates and uses $5,000 of the funds to pay for a particular business trip and uses the remaining $45,000 for general operating expenses. The group's annual report for the fiscal year must include the name and address of the group, information sufficient to identify the agreement, and a statement that the group received $50,000. Because the group did not allocate and use all of the funds for a specific purpose, the group's annual report must provide the total amount of funds it used during the year for each category of expenses included in paragraph (d)(1)(iv) of this section. The group's annual report also could state that it used $5,000 for a particular business trip and include a brief description of the trip. (iv) Example 4. A community development organization is a party to two separate covered agreements with two unaffiliated insured depository institutions. Under each agreement, the organization receives $15,000 during its fiscal year and uses the funds to support [[Page 184]] its activities during that year. If the organization elects to file a consolidated annual report, the consolidated report must identify the organization and the two covered agreements, state that the organization received $15,000 during the fiscal year under each agreement, and provide the total amount that the organization used during the year for each category of expenses included in paragraph (d)(1)(iv) of this section. (e) Annual report filed by insured depository institution or affiliate--(1) General. The annual report filed by an insured depository institution or affiliate must include the following-- (i) The name and principal place of business of the insured depository institution or affiliate filing the report; (ii) Information sufficient to identify the covered agreement for which the annual report is being filed, such as by providing the names of the parties to the agreement and the date the agreement was entered into or by providing a copy of the agreement; (iii) The aggregate amount of payments, aggregate amount of fees, and aggregate amount of loans provided by the insured depository institution or affiliate under the covered agreement to any other party to the agreement during the fiscal year; (iv) The aggregate amount of payments, aggregate amount of fees, and aggregate amount of loans received by the insured depository institution or affiliate under the covered agreement from any other party to the agreement during the fiscal year; (v) A general description of the terms and conditions of any payments, fees, or loans reported under paragraphs (e)(1)(iii) and (iv) of this section, or, in the event such terms and conditions are set forth-- (A) In the covered agreement, a statement identifying the covered agreement and the date the agreement (or a list identifying the agreement) was filed with the relevant supervisory agency; or (B) In a previous annual report filed by the insured depository institution or affiliate, a statement identifying the date the report was filed with the relevant supervisory agency; and (vi) The aggregate amount and number of loans, aggregate amount and number of investments, and aggregate amount of services provided under the covered agreement to any individual or entity not a party to the agreement-- (A) By the insured depository institution or affiliate during its fiscal year; and (B) By any other party to the agreement, unless such information is not known to the insured depository institution or affiliate filing the report or such information is or will be contained in the annual report filed by another party under this section. (2) Consolidated reports permitted--(i) Party to multiple agreements. An insured depository institution or affiliate that is a party to 2 or more covered agreements may file a single consolidated annual report with each relevant supervisory agency concerning all the covered agreements. (ii) Affiliated entities party to the same agreement. An insured depository institution and its affiliates that are parties to the same covered agreement may file a single consolidated annual report relating to the agreement with each relevant supervisory agency for the covered agreement. (iii) Content of report. Any consolidated annual report must contain all the information required by this paragraph (e). The amounts and data required to be reported under paragraphs (e)(1)(iv) and (vi) of this section may be reported on an aggregate basis for all covered agreements. (f) Time and place of filing--(1) General. Each party must file its annual report with each relevant supervisory agency for the covered agreement no later than six months following the end of the fiscal year covered by the report. (2) Alternative method of fulfilling annual reporting requirement for a NGEP. (i) A NGEP may fulfill the filing requirements of this section by providing the following materials to an insured depository institution or affiliate that is a party to the agreement no later than six months following the end of the NGEP's fiscal year-- (A) A copy of the NGEP's annual report required under paragraph (d) of this section for the fiscal year; and [[Page 185]] (B) Written instructions that the insured depository institution or affiliate promptly forward the annual report to the relevant supervisory agency or agencies on behalf of the NGEP. (ii) An insured depository institution or affiliate that receives an annual report from a NGEP pursuant to paragraph (f)(2)(i) of this section must file the report with the relevant supervisory agency or agencies on behalf of the NGEP within 30 days. Sec. 207.8 Release of information under FOIA. The Board will make covered agreements and annual reports available to the public in accordance with the Freedom of Information Act (5 U.S.C. 552 et seq.) and the Board's Rules Regarding the Availability of Information (12 CFR part 261). A party to a covered agreement may request confidential treatment of proprietary and confidential information in a covered agreement or an annual report under those procedures. Sec. 207.9 Compliance provisions. (a) Willful failure to comply with disclosure and reporting obligations. (1) If the Board determines that a NGEP has willfully failed to comply in a material way with Sec. Sec. 207.6 or 207.7, the Board will notify the NGEP in writing of that determination and provide the NGEP a period of 90 days (or such longer period as the Board finds to be reasonable under the circumstances) to comply. (2) If the NGEP does not comply within the time period established by the Board, the agreement shall thereafter be unenforceable by that NGEP by operation of section 48 of the Federal Deposit Insurance Act (12 U.S.C. 1831y). (3) The Board may assist any insured depository institution or affiliate that is a party to a covered agreement that is unenforceable by a NGEP by operation of section 48 of the Federal Deposit Insurance Act (12 U.S.C. 1831y) in identifying a successor to assume the NGEP's responsibilities under the agreement. (b) Diversion of funds. If a court or other body of competent jurisdiction determines that funds or resources received under a covered agreement have been diverted contrary to the purposes of the covered agreement for an individual's personal financial gain, the Board may take either or both of the following actions-- (1) Order the individual to disgorge the diverted funds or resources received under the agreement; (2) Prohibit the individual from being a party to any covered agreement for a period not to exceed 10 years. (c) Notice and opportunity to respond. Before making a determination under paragraph (a)(1) of this section, or taking any action under paragraph (b) of this section, the Board will provide written notice and an opportunity to present information to the Board concerning any relevant facts or circumstances relating to the matter. (d) Inadvertent or de minimis errors. Inadvertent or de minimis errors in annual reports or other documents filed with the Board under Sec. 207.6 or Sec. 207.7 will not subject the reporting party to any penalty. (e) Enforcement of provisions in covered agreements. No provision of this part shall be construed as authorizing the Board to enforce the provisions of any covered agreement. Sec. 207.10 Transition provisions. (a) Disclosure of covered agreements entered into before the effective date of this part. The following disclosure requirements apply to covered agreements that were entered into after November 12, 1999, and that terminated before April 1, 2001. (1) Disclosure to the public. Each NGEP and each insured depository institution or affiliate that was a party to the agreement must make the agreement available to the public under Sec. 207.6 until at least April 1, 2002. (2) Disclosure to the relevant supervisory agency. (i) Each NGEP that was a party to the agreement must make the agreement available to the relevant supervisory agency under Sec. 207.6 until at least April 1, 2002. (ii) Each insured depository institution or affiliate that was a party to the agreement must, by June 30, 2001, provide each relevant supervisory agency either-- (A) A copy of the agreement under Sec. 207.6(d)(1)(i); or [[Page 186]] (B) The information described in Sec. 207.6(d)(1)(ii) for each agreement. (b) Filing of annual reports that relate to fiscal years ending on or before December 31, 2000. In the event that a NGEP, insured depository institution or affiliate has any information to report under Sec. 207.7 for a fiscal year that ends on or before December 31, 2000, and that concerns a covered agreement entered into between May 12, 2000, and December 31, 2000, the annual report for that fiscal year must be provided no later than June 30, 2001, to-- (1) Each relevant supervisory agency; or (2) In the case of a NGEP, to an insured depository institution or affiliate that is a party to the agreement in accordance with Sec. 207.7(f)(2). Sec. 207.11 Other definitions and rules of construction used in this part. (a) Affiliate. ``Affiliate'' means-- (1) Any company that controls, is controlled by, or is under common control with another company; and (2) For the purpose of determining whether an agreement is a covered agreement under Sec. 207.2, an ``affiliate'' includes any company that would be under common control or merged with another company on consummation of any transaction pending before a Federal banking agency at the time-- (i) The parties enter into the agreement; and (ii) The NGEP that is a party to the agreement makes a CRA communication, as described in Sec. 207.3. (b) Control. ``Control'' is defined in section 2(a) of the Bank Holding Company Act (12 U.S.C. 1841(a)). (c) CRA affiliate. A ``CRA affiliate'' of an insured depository institution is any company that is an affiliate of an insured depository institution to the extent, and only to the extent, that the activities of the affiliate were considered by the appropriate Federal banking agency when evaluating the CRA performance of the institution at its most recent CRA examination prior to the agreement. An insured depository institution or affiliate also may designate any company as a CRA affiliate at any time prior to the time a covered agreement is entered into by informing the NGEP that is a party to the agreement of such designation. (d) CRA public file. ``CRA public file'' means the public file maintained by an insured depository institution and described in Sec. 228.43 of Regulation BB (12 CFR 228.43). (e) Executive officer. The term ``executive officer'' has the same meaning as in Sec. 215.2(e)(1) of the Board's Regulation O (12 CFR 215.2(e)(1)). (f) Federal banking agency; appropriate Federal banking agency. The terms ``Federal banking agency'' and ``appropriate Federal banking agency'' have the same meanings as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (g) Fiscal year. (1) The fiscal year for a NGEP that does not have a fiscal year shall be the calendar year. (2) Any NGEP, insured depository institution, or affiliate that has a fiscal year may elect to have the calendar year be its fiscal year for purposes of this part. (h) Insured depository institution. ``Insured depository institution'' has the same meaning as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (i) NGEP. ``NGEP'' means a nongovernmental entity or person. (j) Nongovernmental entity or person--(1) General. A ``nongovernmental entity or person'' is any partnership, association, trust, joint venture, joint stock company, corporation, limited liability corporation, company, firm, society, other organization, or individual. (2) Exclusions. A nongovernmental entity or person does not include-- (i) The United States government, a state government, a unit of local government (including a county, city, town, township, parish, village, or other general-purpose subdivision of a state) or an Indian tribe or tribal organization established under Federal, state or Indian tribal law (including the Department of Hawaiian Home Lands), or a department, agency, or instrumentality of any such entity; (ii) A federally-chartered public corporation that receives Federal funds appropriated specifically for that corporation; [[Page 187]] (iii) An insured depository institution or affiliate of an insured depository institution; or (iv) An officer, director, employee, or representative (acting in his or her capacity as an officer, director, employee, or representative) of an entity listed in paragraphs (i)(2)(i) through (iii) of this section. (k) Party. The term ``party'' with respect to a covered agreement means each NGEP and each insured depository institution or affiliate that entered into the agreement. (l) Relevant supervisory agency. The ``relevant supervisory agency'' for a covered agreement means the appropriate Federal banking agency for-- (1) Each insured depository institution (or subsidiary thereof) that is a party to the covered agreement; (2) Each insured depository institution (or subsidiary thereof) or CRA affiliate that makes payments or loans or provides services that are subject to the covered agreement; and (3) Any company (other than an insured depository institution or subsidiary thereof) that is a party to the covered agreement. (m) Term of agreement. An agreement that does not have a fixed termination date is considered to terminate on the last date on which any party to the agreement makes any payment or provides any loan or other resources under the agreement, unless the relevant supervisory agency for the agreement otherwise notifies each party in writing. PART 208_MEMBERSHIP OF STATE BANKING INSTITUTIONS IN THE FEDERAL RESERVE SYSTEM (REGULATION H)--Table of Contents Subpart A_General Membership and Branching Requirements Sec. 208.1 Authority, purpose, and scope. 208.2 Definitions. 208.3 Application and conditions for membership in the Federal Reserve System. 208.4 Capital adequacy. 208.5 Dividends and other distributions. 208.6 Establishment and maintenance of branches. 208.7 Prohibition against use of interstate branches primarily for deposit production. Subpart B_Investments and Loans 208.20 Authority, purpose, and scope. 208.21 Investments in premises and securities. 208.22 Community development and public welfare investments. 208.23 Agricultural loan loss amortization. 208.24 Letters of credit and acceptances. 208.25 Loans in areas having special flood hazards. Subpart C_Bank Securities and Securities-Related Activities 208.30 Authority, purpose, and scope. 208.31 State member banks as transfer agents. 208.32 Notice of disciplinary sanctions imposed by registered clearing agency. 208.33 Application for stay or review of disciplinary sanctions imposed by registered clearing agency. 208.34 Recordkeeping and confirmation of certain securities transactions effected by State member banks. 208.35 Qualification requirements for transactions in certain securities. [Reserved] 208.36 Reporting requirements for State member banks subject to the Securities Exchange Act of 1934. 208.37 Government securities sales practices. Subpart D_Prompt Corrective Action 208.40 Authority, purpose, scope, other supervisory authority, and disclosure of capital categories. 208.41 Definitions for purposes of this subpart. 208.42 Notice of capital category. 208.43 Capital measures and capital category definitions. 208.44 Capital restoration plans. 208.45 Mandatory and discretionary supervisory actions under section 38. Subpart E_Real Estate Lending, Appraisal Standards, and Minimum Requirements for Appraisal Management Companies 208.50 Authority, purpose, and scope. 208.51 Real estate lending standards. Subpart F_Miscellaneous Requirements 208.60 Authority, purpose, and scope. 208.61 Bank security procedures. 208.62 Suspicious activity reports. 208.63 Procedures for monitoring Bank Secrecy Act compliance. 208.64 Frequency of examination. [[Page 188]] Subpart G_Financial Subsidiaries of State Member Banks 208.71 What are the requirements to invest in or control a financial subsidiary? 208.72 What activities may a financial subsidiary conduct? 208.73 What additional provisions are applicable to state member banks with financial subsidiaries? 208.74 What happens if the state member bank or a depository institution affiliate fails to continue to meet certain requirements? 208.75 What happens if the state member bank or any of its insured depository institution affiliates receives less than a ``satisfactory'' CRA rating? 208.76 What Federal Reserve approvals are necessary for financial subsidiaries? 208.77 Definitions. Subpart H_Consumer Protection in Sales of Insurance 208.81 Purpose and scope. 208.82 Definitions for purposes of this subpart. 208.83 Prohibited practices. 208.84 What you must disclose. 208.85 Where insurance activities may take place. 208.86 Qualification and licensing requirements for insurance sales personnel. Appendix A to Subpart H of Part 208--Consumer Grievance Process Subpart I [Reserved] Subpart J_Interpretations 208.110 Sale of bank's money orders off premises as establishment of branch office. 208.111 Obligations concerning institutional customers. 208.112 Policy statement on section 9(13) of the Federal Reserve Act. Subpart K_Forms, Instructions and Reports 208.120 Authority, purpose, and scope. 208.121 Definitions. 208.122 Reporting. 208.123 Reduced reporting. 208.124 Reservation of authority. Appendixes A-B to Part 208 [Reserved] Appendix C to Part 208--Interagency Guidelines for Real Estate Lending Policies Appendix D-1 to Part 208--Interagency Guidelines Establishing Standards for Safety and Soundness Appendix D-2 to Part 208--Interagency Guidelines Establishing Information Security Standards Appendixes E-F to Part 208 [Reserved] Authority: 12 U.S.C. 24, 36, 92a, 93a, 248(a), 248(c), 321-338a, 371d, 461, 481-486, 601, 611, 1814, 1816, 1817(a)(3), 1817(a)(12), 1818, 1820(d)(9), 1833(j), 1828(o), 1831, 1831o, 1831p-1, 1831r-1, 1831w, 1831x, 1835a, 1882, 2901-2907, 3105, 3310, 3331-3351, 3905-3909, 5371, and 5371 note; 15 U.S.C. 78b, 78I(b), 78l(i), 780-4(c)(5), 78q, 78q-1, 78w, 1681s, 1681w, 6801, and 6805; 31 U.S.C. 5318; 42 U.S.C. 4012a, 4104a, 4104b, 4106, and 4128. Source: Reg. H, 17 FR 8006, Sept. 4, 1952, unless otherwise noted. Subpart A_General Membership and Branching Requirements Source: 63 FR 37637, July 13, 1998, unless otherwise noted. Sec. 208.1 Authority, purpose, and scope. (a) Authority. Subpart A of Regulation H (12 CFR part 208, Subpart A) is issued by the Board of Governors of the Federal Reserve System (Board) under 12 U.S.C. 24, 36; sections 9, 11, 21, 25 and 25A of the Federal Reserve Act (12 U.S.C. 321-338a, 248(a), 248(c), 481-486, 601 and 611); sections 1814, 1816, 1818, 1831o, 1831p-1, 1831r-1 and 1835a of the Federal Deposit Insurance Act (FDI Act) (12 U.S.C. 1814, 1816, 1818, 1831o, 1831p-1, 1831r-1, and 1835); and 12 U.S.C. 3906-3909. (b) Purpose and scope of Part 208. The requirements of this part 208 govern State member banks and state banks applying for admission to membership in the Federal Reserve System (System) under section 9 of the Federal Reserve Act (Act), except for Sec. 208.7, which also applies to certain foreign banks licensed by a State. This part 208 does not govern banks eligible for membership under section 2 or 19 of the Act. \1\ Any bank desiring to be admitted to [[Page 189]] the System under the provisions of section 2 or 19 should communicate with the Federal Reserve Bank with which it would like to become a member. --------------------------------------------------------------------------- \1\ Under section 2 of the Federal Reserve Act, every national bank in any state shall, upon commencing business, or within 90 days after admission into the Union of the State in which it is located, become a member of the System. Under section 19 of the Federal Reserve Act, national banks and banks organized under local laws, located in a dependency or insular possession or any part of the United States outside of the States of the United States and the District of Columbia, are not required to become members of the System but may, with the consent of the board, become members of the System. --------------------------------------------------------------------------- (c) Purpose and scope of Subpart A. This Subpart A describes the eligibility requirements for membership of state-chartered banking institutions in the System, the general conditions imposed upon members, including capital and dividend requirements, as well as the requirements for establishing and maintaining branches. Sec. 208.2 Definitions. For the purposes of this part: (a) Board of Directors means the governing board of any institution performing the usual functions of a board of directors. (b) Board means the Board of Governors of the Federal Reserve System. (c) Branch. (1) Branch means any branch bank, branch office, branch agency, additional office, or any branch place of business that receives deposits, pays checks, or lends money. A branch may include a temporary, seasonal, or mobile facility that meets these criteria. (2) Branch does not include: (i) A loan origination facility where the proceeds of loans are not disbursed; (ii) An office of an affiliated or unaffiliated institution that provides services to customers of the member bank on behalf of the member bank so long as the institution is not established or operated by the bank; (iii) An automated teller machine; (iv) A remote service unit; (v) A facility to which the bank does not permit members of the public to have physical access for purposes of making deposits, paying checks, or borrowing money (such as an office established by the bank that receives deposits only through the mail); or (vi) A facility that is located at the site of, or is an extension of, an approved main office or branch. The Board determines whether a facility is an extension of an existing main or branch office on a case- by-case basis. (d) Capital stock and surplus means, unless otherwise provided in this part, or by statute: (1) Tier 1 and tier 2 capital included in a member bank's risk-based capital (as defined in Sec. 217.2 of Regulation Q); and (2) The balance of a member bank's allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, not included in its tier 2 capital for calculation of risk-based capital, based on the bank's most recent Report of Condition and Income filed under 12 U.S.C. 324. (3) For a qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), capital stock and surplus means the bank's Tier 1 capital (as defined in Sec. 217.2 of this chapter and calculated in accordance with Sec. 217.12(b) of this chapter) plus allowance for loan and lease losses or adjusted allowance for credit losses, as applicable. (e) Eligible bank means a member bank that: (1) Is well capitalized as defined in subpart D of this part; (2) Has a composite Uniform Financial Institutions Rating System (CAMELS) rating of 1 or 2; (3) Has a Community Reinvestment Act (CRA) (12 U.S.C. 2906) rating of ``Outstanding'' or ``Satisfactory;'' (4) Has a compliance rating of 1 or 2; and (5) Has no major unresolved supervisory issues outstanding (as determined by the Board or appropriate Federal Reserve Bank in its discretion). (f) State bank means any bank incorporated by special law of any State, or organized under the general laws of any State, or of the United States, including a Morris Plan bank, or other incorporated banking institution engaged in a similar business. (g) State member bank or member bank means a state bank that is a member of the Federal Reserve System. [63 FR 37637, July 13, 1998, as amended by Reg. H, 78 FR 62281, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015; 84 FR 4240, Feb. 14, 2019; 84 FR 61796, Nov. 13, 2019] Sec. 208.3 Application and conditions for membership in the Federal Reserve System. (a) Applications for membership and stock. (1) State banks applying for membership in the Federal Reserve [[Page 190]] System shall file with the appropriate Federal Reserve Bank an application for membership in the Federal Reserve System and for stock in the Reserve Bank, \2\ in accordance with this part and Sec. 262.3 of the Rules of Procedure, located at 12 CFR 262.3. --------------------------------------------------------------------------- \2\ A mutual savings bank not authorized to purchase Federal Reserve Bank stock may apply for membership evidenced initially by a deposit, but if the laws under which the bank is organized are not amended at the first session of the legislature after its admission to authorize the purchase, or if the bank fails to purchase the stock within six months of the amendment, its membership shall be terminated. --------------------------------------------------------------------------- (2) Board approval. If an applying bank conforms to all the requirements of the Federal Reserve Act and this section, and is otherwise qualified for membership, the Board may approve its application subject to such conditions as the Board may prescribe. (3) Effective date of membership. A State bank becomes a member of the Federal Reserve System on the date its Federal Reserve Bank stock is credited to its account (or its deposit is accepted, if it is a mutual savings bank not authorized to purchase Reserve Bank stock) in accordance with the Board's Regulation I (12 CFR part 209). (b) Factors considered in approving applications for membership. Factors given special consideration by the Board in passing upon an application are: (1) Financial condition and management. The financial history and condition of the applying bank and the general character of its management. (2) Capital. The adequacy of the bank's capital in accordance with Sec. 208.4, and its future earnings prospects. (3) Convenience and needs. The convenience and needs of the community. (4) Corporate powers. Whether the bank's corporate powers are consistent with the purposes of the Federal Reserve Act. (c) Expedited approval for eligible banks and bank holding companies--(1) Availability of expedited treatment. The expedited membership procedures described in paragraph (c)(2) of this section are available to: (i) An eligible bank; and (ii) A bank that cannot be determined to be an eligible bank because it has not received CAMELS compliance or CRA ratings from a bank regulatory authority, if it is controlled by a bank holding company that meets the criteria for expedited processing under Sec. 225.14(c) of Regulation Y (12 CFR 225.14(c)). (2) Expedited procedures. A completed membership application filed with the appropriate Reserve Bank will be deemed approved on the fifteenth day after receipt of the complete application by the Board or appropriate Reserve Bank, unless the Board or the appropriate Reserve Bank notifies the bank that the application is approved prior to that date or the Board or the appropriate Federal Reserve Bank notifies the bank that the application is not eligible for expedited review for any reason, including, without limitation, that: (i) The bank will offer banking services that are materially different from those currently offered by the bank, or by the affiliates of the proposed bank; (ii) The bank or bank holding company does not meet the criteria under Sec. 208.3(c)(1); (iii) The application contains a material error or is otherwise deficient; or (iv) The application raises significant supervisory, compliance, policy or legal issues that have not been resolved, or a timely substantive adverse comment is submitted. A comment will be considered substantive unless it involves individual complaints, or raises frivolous, previously considered, or wholly unsubstantiated claims or irrelevant issues. (d) Conditions of membership--(1) Safety and soundness. Each member bank shall at all times conduct its business and exercise its powers with due regard to safety and soundness. Each member bank shall comply with the Interagency Guidelines Establishing Standards for Safety and Soundness prescribed pursuant to section 39 of the FDI Act (12 U.S.C. 1831p-1), set forth in appendix D-1 to this part, and the Interagency Guidelines Establishing Information Security Standards prescribed pursuant to sections 501 and 505 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801 and 6805) and section 216 of [[Page 191]] the Fair and Accurate Credit Transactions Act of 2003 (15 U.S.C. 1681w), set forth in appendix D-2 to this part. (2) General character of bank's business. A member bank may not, without the permission of the Board, cause or permit any change in the general character of its business or in the scope of the corporate powers it exercises at the time of admission to membership. (3) Compliance with conditions of membership. Each member bank shall comply at all times with this Regulation H (12 CFR part 208) and any other conditions of membership prescribed by the Board. (e) Waivers--(1) Conditions of membership. A member bank may petition the Board to waive a condition of membership. The Board may grant a waiver of a condition of membership upon a showing of good cause and, in its discretion, may limit, among other items, the scope, duration, and timing of the waiver. (2) Reports of affiliates. Pursuant to section 21 of the Federal Reserve Act (12 U.S.C. 486), the Board waives the requirement for the submission of reports of affiliates of member banks, unless such reports are specifically requested by the Board. (f) Voluntary withdrawal from membership. Voluntary withdrawal from membership becomes effective upon cancellation of the Federal Reserve Bank stock held by the member bank, and after the bank has made due provision to pay any indebtedness due or to become due to the Federal Reserve Bank in accordance with the Board's Regulation I (12 CFR part 209). [Reg. H, 63 FR 37637, July 13, 1998, as amended at 63 FR 58620, Nov. 2, 1998; 66 FR 8634, Feb. 1, 2001; 69 FR 77617, Dec. 28, 2004; 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.4 Capital adequacy. (a) Adequacy. A member bank's capital, calculated in accordance with part 217, shall be at all times adequate in relation to the character and condition liabilities and other corporate responsibilities. If at any time, in light of all the circumstances, the bank's capital appears inadequate in relation to its assets, liabilities, and responsibilities, the bank shall increase the amount of its capital, within such period as the Board deems reasonable, to an amount which, in the judgment of the Board, shall be adequate. (b) Standards for evaluating capital adequacy. Standards and measures, by which the Board evaluates the capital adequacy of member banks for risk-based capital purposes and for leverage measurement purposes, are located in part 217 of this chapter. [Regulation H, 78 FR 62282, Oct. 11, 2013, as amended at 80 FR 70672, Nov. 16, 2015] Sec. 208.5 Dividends and other distributions. (a) Definitions. For the purposes of this section: (1) Capital surplus means the total of surplus as reportable in the bank's Reports of Condition and Income and surplus on perpetual preferred stock. (2) Permanent capital means the total of the bank's perpetual preferred stock and related surplus, common stock and surplus, and minority interest in consolidated subsidiaries, as reportable in the Reports of Condition and Income. (b) Limitations. The limitations in this section on the payment of dividends and withdrawal of capital apply to all cash and property dividends or distributions on common or preferred stock. The limitations do not apply to dividends paid in the form of common stock. (c) Earnings limitations on payment of dividends. (1) A member bank may not declare or pay a dividend if the total of all dividends declared during the calendar year, including the proposed dividend, exceeds the sum of the bank's net income (as reportable in its Reports of Condition and Income) during the current calendar year and the retained net income of the prior two calendar years, unless the dividend has been approved by the Board. (2) ``Retained net income'' in a calendar year is equal to the bank's net income (as reported in its Report of Condition and Income for such year), less any dividends declared during such year. \3\ The bank's net income during [[Page 192]] the current year and its retained net income from the prior two calendar years is reduced by any net losses incurred in the current or prior two years and any required transfers to surplus or to a fund for the retirement of preferred stock. \4\ --------------------------------------------------------------------------- \3\ In the case of dividends in excess of net income for the year, a bank generally is not required to carry forward negative amounts resulting from such excess. Instead, the bank may attribute the excess to the prior two years, attributing the excess first to the earlier year and then to the immediately preceding year. If the excess is greater than the bank's previously undistributed net income for the preceding two years, prior Board approval of the dividend is required and a negative amount would be carried forward in future dividend calculations. However, in determining any such request for approval, the Board could consider any request for different treatment of such negative amount, including advance waivers for future periods. This applies only to earnings deficits that result from dividends declared in excess of net income for the year and does not apply to other types of current earnings deficits. \4\ State member banks are required to comply with state law provisions concerning the maintenance of surplus funds in addition to common capital. Where the surplus of a State member bank is less than what applicable state law requires the bank to maintain relative to its capital stock account, the bank may be required to transfer amounts from its undivided profits account to surplus. --------------------------------------------------------------------------- (d) Limitation on withdrawal of capital by dividend or otherwise. (1) A member bank may not declare or pay a dividend if the dividend would exceed the bank's undivided profits as reportable on its Reports of Condition and Income, unless the bank has received the prior approval of the Board and of at least two-thirds of the shareholders of each class of stock outstanding. (2) A member bank may not permit any portion of its permanent capital to be withdrawn unless the withdrawal has been approved by the Board and by at least two-thirds of the shareholders of each class of stock outstanding. (3) If a member bank has capital surplus in excess of that required by law, the excess amount may be transferred to the bank's undivided profits account and be available for the payment of dividends if: (i) The amount transferred came from the earnings of prior periods, excluding earnings transferred as a result of stock dividends; (ii) The bank's board of directors approves the transfer of funds; and (iii) The transfer has been approved by the Board. (e) Payment of capital distributions. All member banks also are subject to the restrictions on payment of capital distributions contained in Sec. 208.45 of subpart D of this part implementing section 38 of the FDI Act (12 U.S.C. 1831o). (f) Compliance. A member bank shall use the date a dividend is declared to determine compliance with this section. [63 FR 37637, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.6 Establishment and maintenance of branches. (a) Branching. (1) To the extent authorized by state law, a member bank may establish and maintain branches (including interstate branches) subject to the same limitations and restrictions that apply to the establishment and maintenance of national bank branches (12 U.S.C. 36 and 1831u), except that approval of such branches shall be obtained from the Board rather than from the Comptroller of the Currency. (2) Branch applications. A State member bank wishing to establish a branch in the United States or its territories must file an application in accordance with the Board's Rules of Procedure, located at 12 CFR 262.3, and must comply with the public notice and comment rules contained in paragraphs (a)(3) and (a)(4) of this section. Branches of member banks located in foreign nations, in the overseas territories, dependencies, and insular possessions of those nations and of the United States, and in the Commonwealth of Puerto Rico, are subject to the Board's Regulation K (12 CFR part 211). (3) Public notice of branch applications--(i) Location of publication. A State member bank wishing to establish a branch in the United States or its territories must publish notice in a newspaper of general circulation in the form and at the locations specified in Sec. 262.3 of the Rules of Procedure (12 CFR 262.3). [[Page 193]] (ii) Contents of notice. The newspaper notice referred to in paragraph (a)(3) of this section shall provide an opportunity for interested persons to comment on the application for a period of at least 15 days. (iii) Timing of publication. Each newspaper notice shall be published no more than 7 calendar days before and no later than the calendar day on which an application is filed with the appropriate Reserve Bank. (4) Public comment--(i) Timely comments. Interested persons may submit information and comments regarding a branch application under Sec. 208.6. A comment shall be considered timely for purposes of this subpart if the comment, together with all supplemental information, is submitted in writing in accordance with the Board's Rules of Procedure (12 CFR 262.3) and received by the Board or the appropriate Reserve Bank prior to the expiration of the public comment period provided in paragraph (a)(3)(ii) of this section. (ii) Extension of comment period. The Board may, in its discretion, extend the public comment period regarding any application under Sec. 208.6. In the event that an interested person requests a copy of an application submitted under Sec. 208.6, the Board may, in its discretion and based on the facts and circumstances, grant such person an extension of the comment period for up to 15 calendar days. (b) Factors considered in approving domestic branch applications. Factors given special consideration by the Board in passing upon a branch application are: (1) Financial condition and management. The financial history and condition of the applying bank and the general character of its management; (2) Capital. The adequacy of the bank's capital in accordance with Sec. 208.4, and its future earnings prospects; (3) Convenience and needs. The convenience and needs of the community to be served by the branch; (4) CRA performance. In the case of branches with deposit-taking capability, the bank's performance under the Community Reinvestment Act (12 U.S.C. 2901 et seq.) and Regulation BB (12 CFR part 228); and (5) Investment in bank premises. Whether the bank's investment in bank premises in establishing the branch is consistent with Sec. 208.21. (c) Expedited approval for eligible banks and bank holding companies--(1) Availability of expedited treatment. The expedited branch application procedures described in paragraph (c)(2) of this section are available to: (i) An eligible bank; and (ii) A bank that cannot be determined to be an eligible bank because it has not received CAMELS compliance or CRA ratings from a bank regulatory authority, if it is controlled by a bank holding company that meets the criteria for expedited processing under Sec. 225.14(c) of Regulation Y (12 CFR 225.14(c)). (2) Expedited procedures. A completed domestic branch application filed with the appropriate Reserve Bank will be deemed approved on the fifth day after the close of the comment period, unless the Board or the appropriate Reserve Bank notifies the bank that the application is approved prior to that date (but in no case will an application be approved before the third day after the close of the public comment period) or the Board or the appropriate Federal Reserve Bank notifies the bank that the application is not eligible for expedited review for any reason, including, without limitation, that: (i) The bank or bank holding company does not meet the criteria under Sec. 208.6(c)(1); (ii) The application contains a material error or is otherwise deficient; or (iii) The application or the notice required under paragraph (a)(3) of this section, raises significant supervisory, Community Reinvestment Act, compliance, policy or legal issues that have not been resolved, or a timely substantive adverse comment is submitted. A comment will be considered substantive unless it involves individual complaints, or raises frivolous, previously considered, or wholly unsubstantiated claims or irrelevant issues. (d) Consolidated Applications--(1) Proposed branches; notice of branch opening. A member bank may seek approval in a single application or notice for any branches that it proposes to establish within one year after the approval [[Page 194]] date. The bank shall, unless notification is waived, notify the appropriate Reserve Bank not later than 30 days after opening any branch approved under a consolidated application. A bank is not required to open a branch approved under either a consolidated or single branch application. (2) Duration of branch approval. Branch approvals remain valid for one year unless the Board or the appropriate Reserve Bank notifies the bank that in its judgment, based on reports of condition, examinations, or other information, there has been a change in the bank's condition, financial or otherwise, that warrants reconsideration of the approval. (e) Branch closings. A member bank shall comply with section 42 of the FDI Act (FDI Act), 12 U.S.C. 1831r-1, with regard to branch closings. (f) Branch relocations. A relocation of an existing branch does not require filing a branch application. A relocation of an existing branch, for purposes of determining whether to file a branch application, is a movement that does not substantially affect the nature of the branch's business or customers served. [63 FR 37639, July 13, 1998, as amended at 63 FR 58621, Nov. 2, 1998] Sec. 208.7 Prohibition against use of interstate branches primarily for deposit production. (a) Purpose and scope--(1) Purpose. The purpose of this section is to implement section 109 (12 U.S.C. 1835a) of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (Interstate Act). (2) Scope. (i) This section applies to any State member bank that has operated a covered interstate branch for a period of at least one year, and any foreign bank that has operated a covered interstate branch licensed by a State for a period of at least one year. (ii) This section describes the requirements imposed under 12 U.S.C. 1835a, which requires the appropriate Federal banking agencies (the Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation) to prescribe uniform rules that prohibit a bank from using any authority to engage in interstate branching pursuant to the Interstate Act, or any amendment made by the Interstate Act to any other provision of law, primarily for the purpose of deposit production. (b) Definitions. For purposes of this section, the following definitions apply: (1) Bank means, unless the context indicates otherwise: (i) A State member bank as that term is defined in 12 U.S.C. 1813(d)(2); and (ii) A foreign bank as that term is defined in 12 U.S.C. 3101(7) and 12 CFR 211.21. (2) Covered interstate branch means: (i) Any branch of a State member bank, and any uninsured branch of a foreign bank licensed by a State, that: (A) Is established or acquired outside the bank's home State pursuant to the interstate branching authority granted by the Interstate Act or by any amendment made by the Interstate Act to any other provision of law; or (B) Could not have been established or acquired outside of the bank's home State but for the establishment or acquisition of a branch described in paragraph (b)(2)(i) of this section; and (ii) Any bank or branch of a bank controlled by an out-of-State bank holding company. (3) Home State means: (i) With respect to a State bank, the State that chartered the bank; (ii) With respect to a national bank, the State in which the main office of the bank is located; (iii) With respect to a bank holding company, the State in which the total deposits of all banking subsidiaries of such company are the largest on the later of: (A) July 1, 1966; or (B) The date on which the company becomes a bank holding company under the Bank Holding Company Act. (iv) With respect to a foreign bank: (A) For purposes of determining whether a U.S. branch of a foreign bank is a covered interstate branch, the home State of the foreign bank as determined in accordance with 12 U.S.C. 3103(c) and 12 CFR 211.22; and (B) For purposes of determining whether a branch of a U.S. bank controlled by a foreign bank is a covered [[Page 195]] interstate branch, the State in which the total deposits of all banking subsidiaries of such foreign bank are the largest on the later of: (1) July 1, 1966; or (2) The date on which the foreign bank becomes a bank holding company under the Bank Holding Company Act. (4) Host State means a State in which a covered interstate branch is established or acquired. (5) Host state loan-to-deposit ratio generally means, with respect to a particular host state, the ratio of total loans in the host state relative to total deposits from the host state for all banks (including institutions covered under the definition of ``bank'' in 12 U.S.C. 1813(a)(1)) that have that state as their home state, as determined and updated periodically by the appropriate Federal banking agencies and made available to the public. (6) Out-of-State bank holding company means, with respect to any State, a bank holding company whose home State is another State. (7) State means state as that term is defined in 12 U.S.C. 1813(a)(3). (8) Statewide loan-to-deposit ratio means, with respect to a bank, the ratio of the bank's loans to its deposits in a state in which the bank has one or more covered interstate branches, as determined by the Board. (c)(1) Application of screen. Beginning no earlier than one year after a covered interstate branch is acquired or established, the Board will consider whether the bank's statewide loan-to-deposit ratio is less than 50 percent of the relevant host State loan-to-deposit ratio. (2) Results of screen. (i) If the Board determines that the bank's statewide loan-to-deposit ratio is 50 percent or more of the host state loan-to-deposit ratio, no further consideration under this section is required. (ii) If the Board determines that the bank's statewide loan-to- deposit ratio is less than 50 percent of the host state loan-to-deposit ratio, or if reasonably available data are insufficient to calculate the bank's statewide loan-to-deposit ratio, the Board will make a credit needs determination for the bank as provided in paragraph (d) of this section. (d) Credit needs determination--(1) In general. The Board will review the loan portfolio of the bank and determine whether the bank is reasonably helping to meet the credit needs of the communities in the host state that are served by the bank. (2) Guidelines. The Board will use the following considerations as guidelines when making the determination pursuant to paragraph (d)(1) of this section: (i) Whether covered interstate branches were formerly part of a failed or failing depository institution; (ii) Whether covered interstate branches were acquired under circumstances where there was a low loan-to-deposit ratio because of the nature of the acquired institution's business or loan portfolio; (iii) Whether covered interstate branches have a high concentration of commercial or credit card lending, trust services, or other specialized activities, including the extent to which the covered interstate branches accept deposits in the host state; (iv) The Community Reinvestment Act ratings received by the bank, if any, under 12 U.S.C. 2901 et seq.; (v) Economic conditions, including the level of loan demand, within the communities served by the covered interstate branches; (vi) The safe and sound operation and condition of the bank; and (vii) The Board's Regulation BB--Community Reinvestment (12 CFR part 228) and interpretations of that regulation. (e) Sanctions--(1) In general. If the Board determines that a bank is not reasonably helping to meet the credit needs of the communities served by the bank in the host state, and that the bank's statewide loan-to-deposit ratio is less than 50 percent of the host state loan-to- deposit ratio, the Board: (i) May order that a bank's covered interstate branch or branches be closed unless the bank provides reasonable assurances to the satisfaction of the Board, after an opportunity for public comment, that the bank has an acceptable plan under which the bank will reasonably help to meet the credit needs of the communities served by the bank in the host state; and [[Page 196]] (ii) Will not permit the bank to open a new branch in the host state that would be considered to be a covered interstate branch unless the bank provides reasonable assurances to the satisfaction of the Board, after an opportunity for public comment, that the bank will reasonably help to meet the credit needs of the community that the new branch will serve. (2) Notice prior to closure of a covered interstate branch. Before exercising the Board's authority to order the bank to close a covered interstate branch, the Board will issue to the bank a notice of the Board's intent to order the closure and will schedule a hearing within 60 days of issuing the notice. (3) Hearing. The Board will conduct a hearing scheduled under paragraph (e)(2) of this section in accordance with the provisions of 12 U.S.C. 1818(h) and 12 CFR part 263. [63 FR 37637, July 13, 1998, as amended at 67 FR 38848, June 6, 2002] Subpart B_Investments and Loans Source: 63 FR 37641, July 13, 1998, unless otherwise noted. Sec. 208.20 Authority, purpose, and scope. (a) Authority. Subpart B of Regulation H (12 CFR part 208, subpart B) is issued by the Board of Governors of the Federal Reserve System under 12 U.S.C. 24; sections 9, 11 and 21 of the Federal Reserve Act (12 U.S.C. 321-338a, 248(a), 248(c), and 481-486); sections 1814, 1816, 1818, 1823(j), 1831o, 1831p-1 and 1831r-1 of the FDI Act (12 U.S.C. 1814, 1816, 1818, 1823(j), 1831o, 1831p-1 and 1831r-1); and the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4001-4129). (b) Purpose and scope. This subpart B describes certain investment limitations on member banks, statutory requirements for amortizing losses on agricultural loans and extending credit in areas having special flood hazards, as well as the requirements for issuing letters of credit and acceptances. Sec. 208.21 Investments in premises and securities. (a) Investment in bank premises. No state member bank shall invest in bank premises, or in the stock, bonds, debentures, or other such obligations of any corporation holding the premises of such bank, or make loans to or upon the security of any such corporation unless: (1) The bank notifies the appropriate Reserve Bank at least fifteen days prior to such investment and has not received notice that the investment is subject to further review by the end of the fifteen day notice period; (2) The aggregate of all such investments and loans, together with the amount of any indebtedness incurred by any such corporation that is an affiliate of the bank (as defined in section 2 of the Banking Act of 1933, as amended, 12 U.S.C. 221a), is less than or equal to the bank's perpetual preferred stock and related surplus plus common stock plus surplus, as those terms are defined in the FFIEC Consolidated Reports of Condition and Income; or (3)(i) The aggregate of all such investments and loans, together with the amount of any indebtedness incurred by any such corporation that is an affiliate of the bank, is less than or equal to 150 percent of the bank's perpetual preferred stock and related surplus plus common stock plus surplus, as those terms are defined in the FFIEC Consolidated Reports of Condition and Income; and (ii) The bank: (A) Has a CAMELS composite rating of 1 or 2 under the Uniform Interagency Bank Rating System \5\ (or an equivalent rating under a comparable rating system) as of the most recent examination of the bank; and --------------------------------------------------------------------------- \5\ See FRRS 3-1575 for an explanation of the Uniform Interagency Bank Rating System. (For availability, see 12 CFR 261.10(f).) --------------------------------------------------------------------------- (B) Is well capitalized and will continue to be well capitalized, in accordance with subpart D of this part, after the investment or loan. (b) Investments in securities. Member banks are subject to the same limitations and conditions with respect to purchasing, selling, underwriting, and holding investment securities and [[Page 197]] stocks as are national banks under 12 U.S.C. 24, ] 7th. To determine whether an obligation qualifies as an investment security for the purposes of 12 U.S.C. 24, ] 7th, and to calculate the limits with respect to the purchase of such obligations, a state member bank may look to part 1 of the rules of the Comptroller of the Currency (12 CFR part 1) and interpretations thereunder. A state member bank may consult the Board for a determination with respect to the application of 12 U.S.C. 24, ] 7th, with respect to issues not addressed in 12 CFR part 1. The provisions of 12 CFR part 1 do not provide authority for a state member bank to purchase securities of a type or amount that the bank is not authorized to purchase under applicable state law. [63 FR 37641, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.22 Community development and public welfare investments. (a) Definitions. For purposes of this section: (1) Low- or moderate-income area means: (i) One or more census tracts in a Metropolitan Statistical Area where the median family income adjusted for family size in each census tract is less than 80 percent of the median family income adjusted for family size of the Metropolitan Statistical Area; or (ii) If not in a Metropolitan Statistical Area, one or more census tracts or block-numbered areas where the median family income adjusted for family size in each census tract or block-numbered area is less than 80 percent of the median family income adjusted for family size of the State. (2) Low- and moderate-income persons has the same meaning as low- and moderate-income persons as defined in 42 U.S.C. 5302(a)(20)(A). (3) Small business means a business that meets the size-eligibility standards of 13 CFR 121.802(a)(2). (b) Investments not requiring prior Board approval. Notwithstanding the provisions of section 5136 of the Revised Statutes (12 U.S.C. 24, ] 7th) made applicable to member banks by paragraph 20 of section 9 of the Federal Reserve Act (12 U.S.C. 335), a member bank may make an investment, without prior Board approval, if the following conditions are met: (1) The investment is in a corporation, limited partnership, or other entity, and: (i) The Board has determined that an investment in that entity or class of entities is a public welfare investment under paragraph 23 of section 9 of the Federal Reserve Act (12 U.S.C. 338a), or a community development investment under Regulation Y (12 CFR 225.25(b)(6)); or (ii) The Comptroller of the Currency has determined, by order or regulation, that an investment in that entity by a national bank is a public welfare investment under section 5136 of the Revised Statutes (12 U.S.C. 24 (Eleventh)); or (iii) The entity is a community development financial institution as defined in section 103(5) of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702(5)); or (iv) The entity, directly or indirectly, engages solely in or makes loans solely for the purposes of one or more of the following community development activities: (A) Investing in, developing, rehabilitating, managing, selling, or renting residential property if a majority of the units will be occupied by low- and moderate-income persons, or if the property is a ``qualified low-income building'' as defined in section 42(c)(2) of the Internal Revenue Code (26 U.S.C. 42(c)(2)); (B) Investing in, developing, rehabilitating, managing, selling, or renting nonresidential real property or other assets located in a low- or moderate-income area and targeted towards low- and moderate-income persons; (C) Investing in one or more small businesses located in a low- or moderate-income area to stimulate economic development; (D) Investing in, developing, or otherwise assisting job training or placement facilities or programs that will be targeted towards low- and moderate-income persons; (E) Investing in an entity located in a low- or moderate-income area if the entity creates long-term employment [[Page 198]] opportunities, a majority of which (based on full-time equivalent positions) will be held by low- and moderate-income persons; and (F) Providing technical assistance, credit counseling, research, and program development assistance to low- and moderate-income persons, small businesses, or nonprofit corporations to help achieve community development; (2) The investment is permitted by state law; (3) The investment will not expose the member bank to liability beyond the amount of the investment; (4) The aggregate of all such investments of the member bank does not exceed the sum of five percent of its capital stock and surplus; (5) The member bank is well capitalized or adequately capitalized under Sec. Sec. 208.43(b) (1) and (2); (6) The member bank received a composite CAMELS rating of ``1'' or ``2'' under the Uniform Financial Institutions Rating System as of its most recent examination and an overall rating of ``1'' or ``2'' as of its most recent consumer compliance examination; and (7) The member bank is not subject to any written agreement, cease- and-desist order, capital directive, prompt-corrective-action directive, or memorandum of understanding issued by the Board or a Federal Reserve Bank. (c) Notice to Federal Reserve Bank. Not more than 30 days after making an investment under paragraph (b) of this section, the member bank shall advise its Federal Reserve Bank of the investment, including the amount of the investment and the identity of the entity in which the investment is made. (d) Investments requiring Board approval. (1) With prior Board approval, a member bank may make public welfare investments under paragraph 23 of section 9 of the Federal Reserve Act (12 U.S.C. 338a), other than those specified in paragraph (b) of this section. (2) Requests for Board approval under this paragraph (d) shall include, at a minimum: (i) The amount of the proposed investment; (ii) A description of the entity in which the investment is to be made; (iii) An explanation of why the investment is a public welfare investment under paragraph 23 of section 9 of the Federal Reserve Act (12 U.S.C. 338a); (iv) A description of the member bank's potential liability under the proposed investment; (v) The amount of the member bank's aggregate outstanding public welfare investments under paragraph 23 of section 9 of the Federal Reserve Act; (vi) The amount of the member bank's capital stock and surplus; and (vii) If the bank investment is not eligible under paragraph (b) of this section, explain the reason or reasons why it is ineligible. (3) The Board shall act on a request under this paragraph (d) within 60 calendar days of receipt of a request that meets the requirements of paragraph (d)(2) of this section, unless the Board notifies the requesting member bank that a longer time period will be required. (e) Divestiture of investments. A member bank shall divest itself of an investment made under paragraph (b) or (d) of this section to the extent that the investment exceeds the scope of, or ceases to meet, the requirements of paragraphs (b)(1) through (b)(4) or paragraph (d) of this section. The divestiture shall be made in the manner specified in 12 CFR 225.140, Regulation Y, for interests acquired by a lending subsidiary of a bank holding company or the bank holding company itself in satisfaction of a debt previously contracted. Sec. 208.23 Agricultural loan loss amortization. (a) Definitions. For purposes of this section: (1) Accepting official means: (i) The Reserve Bank in whose district the bank is located; or (ii) The Director of the Division of Banking Supervision and Regulation in cases in which the Reserve Bank cannot determine that the bank qualifies. (2) Agriculturally related other property means any property, real or personal, that the bank owned on January 1, 1983, and any additional property that it acquired prior to January 1, 1992, in [[Page 199]] connection with a qualified agricultural loan. For the purposes of paragraph (d) of this section, the value of such property shall include the amount previously charged off as a loss. (3) Participating bank means an agricultural bank (as defined in 12 U.S.C. 1823(j)(4)(A)) that, as of January 1, 1992, had a proposal for a capital restoration plan accepted by an accepting official and received permission from the accepting official, subject to paragraphs (d) and (e) of this section, to amortize losses in accordance with paragraphs (b) and (c) of this section. (4) Qualified agricultural loan means: (i) Loans that finance agricultural production or are secured by farm land for purposes of Schedule RC-C of the FFIEC Consolidated Report of Condition or such other comparable schedule; (ii) Loans secured by farm machinery; (iii) Other loans that a bank proves to be sufficiently related to agriculture for classification as an agricultural loan by the Board; and (iv) The remaining unpaid balance of any loans described in paragraphs (a)(4) (i), (ii) and (iii) of this section that have been charged off since January 1, 1984, and that qualify for deferral under this section. (b)(1) Provided there is no evidence that the loss resulted from fraud or criminal abuse on the part of the bank, the officers, directors, or principal shareholders, a participating bank may amortize in its Reports of Condition and Income: (i) Any loss on a qualified agricultural loan that the bank would be required to reflect in its financial statements for any period between and including 1984 and 1991; or (ii) Any loss that the bank would be required to reflect in its financial statements for any period between and including 1983 and 1991 resulting from a reappraisal or sale of agriculturally-related other property. (2) Amortization under this section shall be computed over a period not to exceed seven years on a quarterly straight-line basis commencing in the first quarter after the loan was or is charged off so as to be fully amortized not later than December 31, 1998. (c) Accounting for amortization. Any bank that is permitted to amortize losses in accordance with paragraph (b) of this section may restate its capital and other relevant accounts and account for future authorized deferrals and authorization in accordance with the instructions to the FFIEC Consolidated Reports of Condition and Income. Any resulting increase in the capital account shall be included in capital pursuant to part 217 of this chapter. (d) Conditions of participation. In order for a bank to maintain its status as a participating bank, it shall: (1) Adhere to the approved capital plan and obtain the prior approval of the accepting official before making any modifications to the plan; (2) Maintain accounting records for each asset subject to loss deferral under the program that document the amount and timing of the deferrals, repayments, and authorizations; (3) Maintain the financial condition of the bank so that it does not deteriorate to the point where it is no longer a viable, fundamentally sound institution; (4) Make a reasonable effort, consistent with safe and sound banking practices, to maintain in its loan portfolio a percentage of agricultural loans, including agriculturally-related other property, not less than the percentage of such loans in its loan portfolio on January 1, 1986; and (5) Provide the accepting official, upon request, with any information the accepting official deems necessary to monitor the bank's amortization, its compliance with the conditions of participation, and its continued eligibility. (e) Revocation of eligibility for loss amortization. The failure to comply with any condition in an acceptance, with the capital restoration plan, or with the conditions stated in paragraph (d) of this section, is grounds for revocation of acceptance for loss amortization and for an administrative action against the bank under 12 U.S.C. 1818(b). In addition, acceptance of a bank for loss amortization shall not foreclose any administrative action against the bank that the Board may deem appropriate. [[Page 200]] (f) Expiration date. The terms of this section will no longer be in effect as of January 1, 1999. [63 FR 37641, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013] Sec. 208.24 Letters of credit and acceptances. (a) Standby letters of credit. For the purpose of this section, standby letters of credit include every letter of credit (or similar arrangement however named or designated) that represents an obligation to the beneficiary on the part of the issuer: (1) To repay money borrowed by or advanced to or for the account of the account party; or (2) To make payment on account of any evidence of indebtedness undertaken by the account party; or (3) To make payment on account of any default by the party procuring the issuance of the letter of credit in the performance of an obligation. \6\ --------------------------------------------------------------------------- \6\ A standby letter of credit does not include: (1) Commercial letters of credit and similar instruments, where the issuing bank expects the beneficiary to draw upon the issuer, and which do not guaranty payment of a money obligation; or (2) a guaranty or similar obligation issued by a foreign branch in accordance with and subject to the limitations of 12 CFR part 211 (Regulation K). --------------------------------------------------------------------------- (b) Ineligible acceptance. An ineligible acceptance is a time draft accepted by a bank, which does not meet the requirements for discount with a Federal Reserve Bank. (c) Bank's lending limits. Standby letters of credit and ineligible acceptances count toward member banks' lending limits imposed by state law. (d) Exceptions. A standby letter of credit or ineligible acceptance is not subject to the restrictions set forth in paragraph (c) of this section if prior to or at the time of issuance of the credit: (1) The issuing bank is paid an amount equal to the bank's maximum liability under the standby letter of credit; or (2) The party procuring the issuance of a letter of credit or ineligible acceptance has set aside sufficient funds in a segregated, clearly earmarked deposit account to cover the bank's maximum liability under the standby letter of credit or ineligible acceptance. [63 FR 37641, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.25 Loans in areas having special flood hazards. (a) Purpose and scope--(1) Purpose. The purpose of this section is to implement the requirements of the National Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4001-4129). (2) Scope. This section, except for paragraphs (f) and (h) of this section, applies to loans secured by buildings or mobile homes located or to be located in areas determined by the Administrator of the Federal Emergency Management Agency to have special flood hazards. Paragraphs (f) and (h) of this section apply to loans secured by buildings or mobile homes, regardless of location. (b) Definitions. For purposes of this section: (1) Act means the National Flood Insurance Act of 1968, as amended (42 U.S.C. 4001-4129). (2) Administrator of FEMA means the Administrator of the Federal Emergency Management Agency. (3) Building means a walled and roofed structure, other than a gas or liquid storage tank, that is principally above ground and affixed to a permanent site, and a walled and roofed structure while in the course of construction, alteration, or repair. (4) Community means a State or a political subdivision of a State that has zoning and building code jurisdiction over a particular area having special flood hazards. (5) Designated loan means a loan secured by a building or mobile home that is located or to be located in a special flood hazard area in which flood insurance is available under the Act. (6) Mobile home means a structure, transportable in one or more sections, that is built on a permanent chassis and designed for use with or without a permanent foundation when attached to the required utilities. The term mobile home does not include a recreational vehicle. For purposes of this section, the term mobile home means a [[Page 201]] mobile home on a permanent foundation. The term mobile home includes a manufactured home as that term is used in the NFIP. (7) Mutual aid society means an organization-- (i) Whose members share a common religious, charitable, educational, or fraternal bond; (ii) That covers losses caused by damage to members' property pursuant to an agreement, including damage caused by flooding, in accordance with this common bond; and (iii) That has a demonstrated history of fulfilling the terms of agreements to cover losses to members' property caused by flooding. (8) NFIP means the National Flood Insurance Program authorized under the Act. (9) Private flood insurance means an insurance policy that: (i) Is issued by an insurance company that is: (A) Licensed, admitted, or otherwise approved to engage in the business of insurance by the insurance regulator of the State or jurisdiction in which the property to be insured is located; or (B) Recognized, or not disapproved, as a surplus lines insurer by the insurance regulator of the State or jurisdiction in which the property to be insured is located in the case of a policy of difference in conditions, multiple peril, all risk, or other blanket coverage insuring nonresidential commercial property; (ii) Provides flood insurance coverage that is at least as broad as the coverage provided under an SFIP for the same type of property, including when considering deductibles, exclusions, and conditions offered by the insurer. To be at least as broad as the coverage provided under an SFIP, the policy must, at a minimum: (A) Define the term ``flood'' to include the events defined as a ``flood'' in an SFIP; (B) Contain the coverage specified in an SFIP, including that relating to building property coverage; personal property coverage, if purchased by the insured mortgagor(s); other coverages; and increased cost of compliance coverage; (C) Contain deductibles no higher than the specified maximum, and include similar non-applicability provisions, as under an SFIP, for any total policy coverage amount up to the maximum available under the NFIP at the time the policy is provided to the lender; (D) Provide coverage for direct physical loss caused by a flood and may only exclude other causes of loss that are excluded in an SFIP. Any exclusions other than those in an SFIP may pertain only to coverage that is in addition to the amount and type of coverage that could be provided by an SFIP or have the effect of providing broader coverage to the policyholder; and (E) Not contain conditions that narrow the coverage provided in an SFIP; (iii) Includes all of the following: (A) A requirement for the insurer to give written notice 45 days before cancellation or non-renewal of flood insurance coverage to: (1) The insured; and (2) The member bank that made the designated loan secured by the property covered by the flood insurance, or the servicer acting on its behalf; (B) Information about the availability of flood insurance coverage under the NFIP; (C) A mortgage interest clause similar to the clause contained in an SFIP; and (D) A provision requiring an insured to file suit not later than one year after the date of a written denial of all or part of a claim under the policy; and (iv) Contains cancellation provisions that are as restrictive as the provisions contained in an SFIP. (10) Residential improved real estate means real estate upon which a home or other residential building is located or to be located. (11) Servicer means the person responsible for: (i) Receiving any scheduled, periodic payments from a borrower under the terms of a loan, including amounts for taxes, insurance premiums, and other charges with respect to the property securing the loan; and (ii) Making payments of principal and interest and any other payments from the amounts received from the [[Page 202]] borrower as may be required under the terms of the loan. (12) SFIP means, for purposes of paragraph (b)(9) of this section, a standard flood insurance policy issued under the NFIP in effect as of the date private flood insurance is provided to a member bank. (13) Special flood hazard area means the land in the flood plain within a community having at least a one percent chance of flooding in any given year, as designated by the Administrator of FEMA. (14) Table funding means a settlement at which a loan is funded by a contemporaneous advance of loan funds and an assignment of the loan to the person advancing the funds. (c) Requirement to purchase flood insurance where available--(1) In general. A member bank shall not make, increase, extend, or renew any designated loan unless the building or mobile home and any personal property securing the loan is covered by flood insurance for the term of the loan. The amount of insurance must be at least equal to the lesser of the outstanding principal balance of the designated loan or the maximum limit of coverage available for the particular type of property under the Act. Flood insurance coverage under the Act is limited to the building or mobile home and any personal property that secures a loan and not the land itself. (2) Table funded loans. A member bank that acquires a loan from a mortgage broker or other entity through table funding shall be considered to be making a loan for the purposes of this section. (3) Private flood insurance--(i) Mandatory acceptance. A member bank must accept private flood insurance, as defined in paragraph (b)(9) of this section, in satisfaction of the flood insurance purchase requirement in paragraph (c)(1) of this section if the policy meets the requirements for coverage in paragraph (c)(1) of this section. (ii) Compliance aid for mandatory acceptance. A member bank may determine that a policy meets the definition of private flood insurance in paragraph (b)(9) of this section, without further review of the policy, if the following statement is included within the policy or as an endorsement to the policy: ``This policy meets the definition of private flood insurance contained in 42 U.S.C. 4012a(b)(7) and the corresponding regulation.'' (iii) Discretionary acceptance. A member bank may accept a flood insurance policy issued by a private insurer that is not issued under the NFIP and that does not meet the definition of private flood insurance in paragraph (b)(9) of this section in satisfaction of the flood insurance purchase requirement in paragraph (c)(1) of this section if the policy: (A) Provides coverage in the amount required by paragraph (c)(1) of this section; (B) Is issued by an insurer that is licensed, admitted, or otherwise approved to engage in the business of insurance by the insurance regulator of the State or jurisdiction in which the property to be insured is located; or in the case of a policy of difference in conditions, multiple peril, all risk, or other blanket coverage insuring nonresidential commercial property, is issued by a surplus lines insurer recognized, or not disapproved, by the insurance regulator of the State or jurisdiction where the property to be insured is located; (C) Covers both the mortgagor(s) and the mortgagee(s) as loss payees, except in the case of a policy that is provided by a condominium association, cooperative, homeowners association, or other applicable group and for which the premium is paid by the condominium association, cooperative, homeowners association, or other applicable group as a common expense; and (D) Provides sufficient protection of the designated loan, consistent with general safety and soundness principles, and the member bank documents its conclusion regarding sufficiency of the protection of the loan in writing. (iv) Mutual aid societies. Notwithstanding the requirements of paragraph (c)(3)(iii) of this section, a member bank may accept a plan issued by a [[Page 203]] mutual aid society, as defined in paragraph (b)(7) of this section, in satisfaction of the flood insurance purchase requirement in paragraph (c)(1) of this section if: (A) The Board has determined that such plans qualify as flood insurance for purposes of the Act. (B) The plan provides coverage in the amount required by paragraph (c)(1) of this section; (C) The plan covers both the mortgagor(s) and the mortgagee(s) as loss payees; and (D) The plan provides sufficient protection of the designated loan, consistent with general safety and soundness principles, and the member bank documents its conclusion regarding sufficiency of the protection of the loan in writing. (d) Exemptions. The flood insurance requirement prescribed by paragraph (c) of this section does not apply with respect to: (1) Any State-owned property covered under a policy of self- insurance satisfactory to the Administrator of FEMA, who publishes and periodically revises the list of States falling within this exemption; (2) Property securing any loan with an original principal balance of $5,000 or less and a repayment term of one year or less; or (3) Any structure that is a part of any residential property but is detached from the primary residential structure of such property and does not serve as a residence. For purposes of this paragraph (d)(3): (i) ``A structure that is a part of a residential property'' is a structure used primarily for personal, family, or household purposes, and not used primarily for agricultural, commercial, industrial, or other business purposes; (ii) A structure is ``detached'' from the primary residential structure if it is not joined by any structural connection to that structure; and (iii) ``Serve as a residence'' shall be based upon the good faith determination of the member bank that the structure is intended for use or actually used as a residence, which generally includes sleeping, bathroom, or kitchen facilities. (e) Escrow requirement--(1) In general--(i) Applicability. Except as provided in paragraphs (e)(1)(ii) or (e)(3) of this section, a member bank, or a servicer acting on its behalf, shall require the escrow of all premiums and fees for any flood insurance required under paragraph (c) of this section for any designated loan secured by residential improved real estate or a mobile home that is made, increased, extended, or renewed on or after January 1, 2016, payable with the same frequency as payments on the designated loan are required to be made for the duration of the loan. (ii) Exceptions. Paragraph (e)(1)(i) of this section does not apply if: (A) The loan is an extension of credit primarily for business, commercial, or agricultural purposes; (B) The loan is in a subordinate position to a senior lien secured by the same residential improved real estate or mobile home for which the borrower has obtained flood insurance coverage that meets the requirements of paragraph (c) of this section; (C) Flood insurance coverage for the residential improved real estate or mobile home is provided by a policy that: (1) Meets the requirements of paragraph (c) of this section; (2) Is provided by a condominium association, cooperative, homeowners association, or other applicable group; and (3) The premium for which is paid by the condominium association, cooperative, homeowners association, or other applicable group as a common expense; (D) The loan is a home equity line of credit; (E) The loan is a nonperforming loan, which is a loan that is 90 or more days past due and remains nonperforming until it is permanently modified or until the entire amount past due, including principal, accrued interest, and penalty interest incurred as the result of past due status, is collected or otherwise discharged in full; or (F) The loan has a term of not longer than 12 months. (iii) Duration of exception. If a member bank, or a servicer acting on behalf of the bank, determines at any time during the term of a designated loan secured by residential improved real [[Page 204]] estate or a mobile home that is made, increased, extended, or renewed on or after January 1, 2016, that an exception under paragraph (e)(1)(ii) of this section does not apply, then the bank or its servicer shall require the escrow of all premiums and fees for any flood insurance required under paragraph (c) of this section as soon as reasonably practicable and, if applicable, shall provide any disclosure required under section 10 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C. 2609) (RESPA). (iv) Escrow account. The member bank, or a servicer acting on its behalf, shall deposit the flood insurance premiums and fees on behalf of the borrower in an escrow account. This escrow account will be subject to escrow requirements adopted pursuant to section 10 of RESPA, which generally limits the amount that may be maintained in escrow accounts for certain types of loans and requires escrow account statements for those accounts, only if the loan is otherwise subject to RESPA. Following receipt of a notice from the Administrator of FEMA or other provider of flood insurance that premiums are due, the member bank, or a servicer acting on its behalf, shall pay the amount owed to the insurance provider from the escrow account by the date when such premiums are due. (2) Notice. For any loan for which a member bank is required to escrow under paragraphs (e)(1) or (e)(3)(ii) of this section or may be required to escrow under paragraph (e)(1)(iii) of this section during the term of the loan, the member bank, or a servicer acting on its behalf, shall mail or deliver a written notice with the notice provided under paragraph (i) of this section informing the borrower that the member bank is required to escrow all premiums and fees for required flood insurance, using language that is substantially similar to model clauses on the escrow requirement in appendix A to this section. (3) Small lender exception--(i) Qualification. Except as may be required under applicable State law, paragraphs (e)(1), (2), and (4) of this section do not apply to a member bank: (A) That has total assets of less than $1 billion as of December 31 of either of the two prior calendar years; and (B) On or before July 6, 2012: (1) Was not required under Federal or State law to deposit taxes, insurance premiums, fees, or any other charges in an escrow account for the entire term of any loan secured by residential improved real estate or a mobile home; and (2) Did not have a policy of consistently and uniformly requiring the deposit of taxes, insurance premiums, fees, or any other charges in an escrow account for any loans secured by residential improved real estate or a mobile home. (ii) Change in status. If a member bank previously qualified for the exception in paragraph (e)(3)(i) of this section, but no longer qualifies for the exception because it had assets of $1 billion or more for two consecutive calendar year ends, the member bank must escrow premiums and fees for flood insurance pursuant to paragraph (e)(1) of this section for any designated loan made, increased, extended, or renewed on or after July 1 of the first calendar year of changed status. (4) Option to escrow--(i) In general. A member bank, or a servicer acting on its behalf, shall offer and make available to the borrower the option to escrow all premiums and fees for any flood insurance required under paragraph (c) of this section for any loan secured by residential improved real estate or a mobile home that is outstanding on January 1, 2016, or July 1 of the first calendar year in which the member bank has had a change in status pursuant to paragraph (e)(3)(ii) of this section, unless: (A) The loan or the member bank qualifies for an exception from the escrow requirement under paragraphs (e)(1)(ii) or (e)(3) of this section, respectively; (B) The borrower is already escrowing all premiums and fees for flood insurance for the loan; or (C) The member bank is required to escrow flood insurance premiums and fees pursuant to paragraph (e)(1) of this section. (ii) Notice. For any loan subject to paragraph (e)(4)(i) of this section, the [[Page 205]] member bank, or a servicer acting on its behalf, shall mail or deliver to the borrower no later than June 30, 2016, or September 30 of the first calendar year in which the member bank has had a change in status pursuant to paragraph (e)(3)(ii) of this section, a notice in writing, or if the borrower agrees, electronically, informing the borrower of the option to escrow all premiums and fees for any required flood insurance and the method(s) by which the borrower may request the escrow, using language similar to the model clause in appendix B to this section. (iii) Timing. The member bank or servicer must begin escrowing premiums and fees for flood insurance as soon as reasonably practicable after the member bank or servicer receives the borrower's request to escrow. (f) Required use of standard flood hazard determination form--(1) Use of form. A state member bank shall use the standard flood hazard determination form developed by the Administrator of FEMA when determining whether the building or mobile home offered as collateral security for a loan is or will be located in a special flood hazard area in which flood insurance is available under the Act. The standard flood hazard determination form may be used in a printed, computerized, or electronic manner. A state member bank may obtain the standard flood hazard determination form from FEMA's Web site at www.fema.gov. (2) Retention of form. A state member bank shall retain a copy of the completed standard flood hazard determination form, in either hard copy or electronic form, for the period of time the state member bank owns the loan. (g) Force placement of flood insurance--(1) Notice and purchase of coverage. If a member bank, or a servicer acting on behalf of the bank, determines at any time during the term of a designated loan, that the building or mobile home and any personal property securing the designated loan is not covered by flood insurance or is covered by flood insurance in an amount less than the amount required under paragraph (c) of this section, then the member bank or its servicer shall notify the borrower that the borrower should obtain flood insurance, at the borrower's expense, in an amount at least equal to the amount required under paragraph (c) of this section, for the remaining term of the loan. If the borrower fails to obtain flood insurance within 45 days after notification, then the member bank or its servicer shall purchase insurance on the borrower's behalf. The member bank or its servicer may charge the borrower for the cost of premiums and fees incurred in purchasing the insurance, including premiums or fees incurred for coverage beginning on the date on which flood insurance coverage lapsed or did not provide a sufficient coverage amount. (2) Termination of force-placed insurance--(i) Termination and refund. Within 30 days of receipt by a member bank, or a servicer acting on its behalf, of a confirmation of a borrower's existing flood insurance coverage, the member bank or its servicer shall: (A) Notify the insurance provider to terminate any insurance purchased by the member bank or its servicer under paragraph (g)(1) of this section; and (B) Refund to the borrower all premiums paid by the borrower for any insurance purchased by the member bank or its servicer under paragraph (g)(1) of this section during any period during which the borrower's flood insurance coverage and the insurance coverage purchased by the member bank or its servicer were each in effect, and any related fees charged to the borrower with respect to the insurance purchased by the member bank or its servicer during such period. (ii) Sufficiency of demonstration. For purposes of confirming a borrower's existing flood insurance coverage under paragraph (g)(2) of this section, a member bank or its servicer shall accept from the borrower an insurance policy declarations page that includes the existing flood insurance policy number and the identity of, and contact information for, the insurance company or agent. (h) Determination fees.--(1) General. Notwithstanding any Federal or State law other than the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4001-4129), any member bank, or a servicer acting on behalf of the bank, may charge a reasonable fee for determining whether the building or mobile [[Page 206]] home securing the loan is located or will be located in a special flood hazard area. A determination fee may also include, but is not limited to, a fee for life-of-loan monitoring. (2) Borrower fee. The determination fee authorized by paragraph (h)(1) of this section may be charged to the borrower if the determination: (i) Is made in connection with a making, increasing, extending, or renewing of the loan that is initiated by the borrower; (ii) Reflects the Administrator of FEMA's revision or updating of flood plain areas or flood-risk zones; (iii) Reflects the Administrator of FEMA's publication of a notice or compendium that: (A) Affects the area in which the building or mobile home securing the loan is located; or (B) By determination of the Administrator of FEMA, may reasonably require a determination whether the building or mobile home securing the loan is located in a special flood hazard area; or (iv) Results in the purchase of flood insurance coverage by the lender or its servicer on behalf of the borrower under paragraph (g) of this section. (3) Purchaser or transferee fee. The determination fee authorized by paragraph (h)(1) of this section may be charged to the purchaser or transferee of a loan in the case of the sale or transfer of the loan. (i) Notice of special flood hazards and availability of Federal disaster relief assistance. When a member bank makes, increases, extends, or renews a loan secured by a building or a mobile home located or to be located in a special flood hazard area, the bank shall mail or deliver a written notice to the borrower and to the servicer in all cases whether or not flood insurance is available under the Act for the collateral securing the loan. (1) Contents of notice. The written notice must include the following information: (i) A warning, in a form approved by the Administrator of FEMA, that the building or the mobile home is or will be located in a special flood hazard area; (ii) A description of the flood insurance purchase requirements set forth in section 102(b) of the Flood Disaster Protection Act of 1973, as amended (42 U.S.C. 4012a(b)); (iii) A statement, where applicable, that flood insurance coverage is available from private insurance companies that issue standard flood insurance policies on behalf of the NFIP or directly from the NFIP; (iv) A statement that flood insurance that provides the same level of coverage as a standard flood insurance policy under the NFIP also may be available from a private insurance company that issues policies on behalf of the company; (v) A statement that the borrower is encouraged to compare the flood insurance coverage, deductibles, exclusions, conditions, and premiums associated with flood insurance policies issued on behalf of the NFIP and policies issued on behalf of private insurance companies and that the borrower should direct inquiries regarding the availability, cost, and comparisons of flood insurance coverage to an insurance agent; and (vi) A statement whether Federal disaster relief assistance may be available in the event of damage to the building or mobile home caused by flooding in a Federally declared disaster. (2) Timing of notice. The member bank shall provide the notice required by paragraph (i)(1) of this section to the borrower within a reasonable time before the completion of the transaction, and to the servicer as promptly as practicable after the bank provides notice to the borrower and in any event no later than the time the bank provides other similar notices to the servicer concerning hazard insurance and taxes. Notice to the servicer may be made electronically or may take the form of a copy of the notice to the borrower. (3) Record of receipt. The member bank shall retain a record of the receipt of the notices by the borrower and the servicer for the period of time the bank owns the loan. (4) Alternate method of notice. Instead of providing the notice to the borrower [[Page 207]] required by paragraph (i)(1) of this section, a member bank may obtain satisfactory written assurance from a seller or lessor that, within a reasonable time before the completion of the sale or lease transaction, the seller or lessor has provided such notice to the purchaser or lessee. The member bank shall retain a record of the written assurance from the seller or lessor for the period of time the bank owns the loan. (5) Use of sample form of notice. A member bank will be considered to be in compliance with the requirement for notice to the borrower of this paragraph (i) of this section by providing written notice to the borrower containing the language presented in appendix A of this section within a reasonable time before the completion of the transaction. The notice presented in appendix A of this section satisfies the borrower notice requirements of the Act. (j) Notice of servicer's identity--(1) Notice requirement. When a member bank makes, increases, extends, renews, sells, or transfers a loan secured by a building or mobile home located or to be located in a special flood hazard area, the bank shall notify the Administrator of FEMA (or the Administrator's designee) in writing of the identity of the servicer of the loan. The Administrator of FEMA has designated the insurance provider to receive the member bank's notice of the servicer's identity. This notice may be provided electronically if electronic transmission is satisfactory to the Administrator of FEMA's designee. (2) Transfer of servicing rights. The member bank shall notify the Administrator of FEMA (or the Administrator's designee) of any change in the servicer of a loan described in paragraph (j)(1) of this section within 60 days after the effective date of the change. This notice may be provided electronically if electronic transmission is satisfactory to the Administrator of FEMA's designee. Upon any change in the servicing of a loan described in paragraph (j)(1) of this section, the duty to provide notice under this paragraph (j)(2) of this section shall transfer to the transferee servicer. Appendix A to Sec. 208.25--Sample Form of Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance We are giving you this notice to inform you that: The building or mobile home securing the loan for which you have applied is or will be located in an area with special flood hazards. The area has been identified by the Administrator of the Federal Emergency Management Agency (FEMA) as a special flood hazard area using FEMA's Flood Insurance Rate Map or the Flood Hazard Boundary Map for the following community: ______. This area has a one percent (1%) chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year. During the life of a 30-year mortgage loan, the risk of a 100-year flood in a special flood hazard area is 26 percent (26%). Federal law allows a lender and borrower jointly to request the Administrator of FEMA to review the determination of whether the property securing the loan is located in a special flood hazard area. If you would like to make such a request, please contact us for further information. ____ The community in which the property securing the loan is located participates in the National Flood Insurance Program (NFIP). Federal law will not allow us to make you the loan that you have applied for if you do not purchase flood insurance. The flood insurance must be maintained for the life of the loan. If you fail to purchase or renew flood insurance on the property, Federal law authorizes and requires us to purchase the flood insurance for you at your expense. At a minimum, flood insurance purchased must cover the lesser of: (1) the outstanding principal balance of the loan; or (2) the maximum amount of coverage allowed for the type of property under the NFIP. Flood insurance coverage under the NFIP is limited to the building or mobile home and any personal property that secures your loan and not the land itself. Federal disaster relief assistance (usually in the form of a low-interest loan) may be available for damages incurred in excess of your flood insurance if your community's participation in the NFIP is in accordance with NFIP requirements. Although you may not be required to maintain flood insurance on all structures, you may still wish to do so, and your mortgage lender may still require you to do so to protect the collateral securing the mortgage. [[Page 208]] If you choose not to maintain flood insurance on a structure and it floods, you are responsible for all flood losses relating to that structure. Availability of Private Flood Insurance Coverage Flood insurance coverage under the NFIP may be purchased through an insurance agent who will obtain the policy either directly through the NFIP or through an insurance company that participates in the NFIP. Flood insurance that provides the same level of coverage as a standard flood insurance policy under the NFIP may be available from private insurers that do not participate in the NFIP. You should compare the flood insurance coverage, deductibles, exclusions, conditions, and premiums associated with flood insurance policies issued on behalf of the NFIP and policies issued on behalf of private insurance companies and contact an insurance agent as to the availability, cost, and comparisons of flood insurance coverage. [Escrow Requirement for Residential Loans Federal law may require a lender or its servicer to escrow all premiums and fees for flood insurance that covers any residential building or mobile home securing a loan that is located in an area with special flood hazards. If your lender notifies you that an escrow account is required for your loan, then you must pay your flood insurance premiums and fees to the lender or its servicer with the same frequency as you make loan payments for the duration of your loan. These premiums and fees will be deposited in the escrow account, which will be used to pay the flood insurance provider.] ____ Flood insurance coverage under the NFIP is not available for the property securing the loan because the community in which the property is located does not participate in the NFIP. In addition, if the non-participating community has been identified for at least one year as containing a special flood hazard area, properties located in the community will not be eligible for Federal disaster relief assistance in the event of a Federally declared flood disaster. Appendix B to Sec. 208.25--Sample Clause for Option to Escrow for Outstanding Loans Escrow Option Clause You have the option to escrow all premiums and fees for the payment on your flood insurance policy that covers any residential building or mobile home that is located in an area with special flood hazards and that secures your loan. If you choose this option: Your payments will be deposited in an escrow account to be paid to the flood insurance provider. The escrow amount for flood insurance will be added to the regular mortgage payment that you make to your lender or its servicer. The payments you make into the escrow account will accumulate over time and the funds will be used to pay your flood insurance policy when your lender or servicer receives a notice from your flood insurance provider that the flood insurance premium is due. To choose this option, follow the instructions below. If you have any questions about the option, contact [Insert Name of Lender or Servicer] at [Insert Contact Information]. [Insert Instructions for Selecting to Escrow] [Reg. H, 80 FR 43245, July 21, 2015, as amended at 80 FR 43247, July 21, 2015; 84 FR 4970, Feb. 20, 2019] Subpart C_Bank Securities and Securities-Related Activities Source: 63 FR 37646, July 13, 1998, unless otherwise noted. Sec. 208.30 Authority, purpose, and scope. (a) Authority. Subpart C of Regulation H (12 CFR part 208, subpart C) is issued by the Board of Governors of the Federal Reserve System under 12 U.S.C. 24, 92a, 93a; sections 1818 and 1831p-1(a)(2) of the FDI Act (12 U.S.C. 1818, 1831p-1(a)(2)); and sections 78b, 78l(b), 78l(g), 78l(i), 78o-4(c)(5), 78o-5, 78q, 78q-1, and 78w of the Securities Exchange Act of 1934 (15 U.S.C. 78b, 78l(b), 78l(g), 78l(i), 78o- 4(c)(5), 78o-5, 78q, 78q-1, 78w). (b) Purpose and scope. This subpart C describes the requirements imposed upon member banks acting as transfer agents, registered clearing agencies, or sellers of securities under the Securities Exchange Act of 1934. This subpart C also describes the reporting requirements imposed on member banks whose securities are subject to registration under the Securities Exchange Act of 1934. Sec. 208.31 State member banks as transfer agents. (a) The rules adopted by the Securities and Exchange Commission (SEC) pursuant to section 17A of the Securities Exchange Act of 1934 (15 U.S.C. 78q- [[Page 209]] l) prescribing procedures for registration of transfer agents for which the SEC is the appropriate regulatory agency (17 CFR 240.17Ac2-1) apply to member bank transfer agents. References to the ``Commission'' are deemed to refer to the Board. (b) The rules adopted by the SEC pursuant to section 17A prescribing operational and reporting requirements for transfer agents (17 CFR 240.17Ac2-2 and 240.17Ad-1 through 240.17Ad-16) apply to member bank transfer agents. Sec. 208.32 Notice of disciplinary sanctions imposed by registered clearing agency. (a) Notice requirement. Any member bank or any of its subsidiaries that is a registered clearing agency pursuant to section 17A(b) of the Securities Exchange Act of 1934 (the Act), and that: (1) Imposes any final disciplinary sanction on any participant therein; (2) Denies participation to any applicant; or (3) Prohibits or limits any person in respect to access to services offered by the clearing agency, shall file with the Board (and the appropriate regulatory agency, if other than the Board, for a participant or applicant) notice thereof in the manner prescribed in this section. (b) Notice of final disciplinary actions. (1) Any registered clearing agency for which the Board is the appropriate regulatory agency that takes any final disciplinary action with respect to any participant shall promptly file a notice thereof with the Board in accordance with paragraph (c) of this section. For the purposes of this paragraph (b), final disciplinary action means the imposition of any disciplinary sanction pursuant to section 17A(b)(3)(G) of the Act, or other action of a registered clearing agency which, after notice and opportunity for hearing, results in final disposition of charges of: (i) One or more violations of the rules of the registered clearing agency; or (ii) Acts or practices constituting a statutory disqualification of a type defined in paragraph (iv) or (v) (except prior convictions) of section 3(a)(39) of the Act. (2) However, if a registered clearing agency fee schedule specifies certain charges for errors made by its participants in giving instructions to the registered clearing agency which are de minimis on a per error basis, and whose purpose is, in part, to provide revenues to the clearing agency to compensate it for effort expended in beginning to process an erroneous instruction, such error charges shall not be considered a final disciplinary action for purposes of this paragraph (b). (c) Contents of final disciplinary action notice. Any notice filed pursuant to paragraph (b) of this section shall consist of the following, as appropriate: (1) The name of the respondent and the respondent's last known address, as reflected on the records of the clearing agency, and the name of the person, committee, or other organizational unit that brought the charges. However, identifying information as to any respondent found not to have violated a provision covered by a charge may be deleted insofar as the notice reports the disposition of that charge and, prior to the filing of the notice, the respondent does not request that identifying information be included in the notice; (2) A statement describing the investigative or other origin of the action; (3) As charged in the proceeding, the specific provision or provisions of the rules of the clearing agency violated by the respondent, or the statutory disqualification referred to in paragraph (b)(2) of this section, and a statement describing the answer of the respondent to the charges; (4) A statement setting forth findings of fact with respect to any act or practice in which the respondent was charged with having engaged in or omitted; the conclusion of the clearing agency as to whether the respondent violated any rule or was subject to a statutory disqualification as charged; and a statement of the clearing agency in support of its resolution of the principal issues raised in the proceedings; (5) A statement describing any sanction imposed, the reasons therefor, and the date upon which the sanction became or will become effective; and (6) Such other matters as the clearing agency may deem relevant. [[Page 210]] (d) Notice of final denial, prohibition, termination or limitation based on qualification or administrative rules. (1) Any registered clearing agency, for which the Board is the appropriate regulatory agency, that takes any final action that denies or conditions the participation of any person, or prohibits or limits access, to services offered by the clearing agency, shall promptly file notice thereof with the Board (and the appropriate regulatory agency, if other than the Board, for the affected person) in accordance with paragraph (e) of this section; but such action shall not be considered a final disciplinary action for purposes of paragraph (b) of this section where the action is based on an alleged failure of such person to: (i) Comply with the qualification standards prescribed by the rules of the registered clearing agency pursuant to section 17A(b)(4)(B) of the Act; or (ii) Comply with any administrative requirements of the registered clearing agency (including failure to pay entry or other dues or fees, or to file prescribed forms or reports) not involving charges of violations that may lead to a disciplinary sanction. (2) However, no such action shall be considered final pursuant to this paragraph (d) that results merely from a notice of such failure to comply to the person affected, if such person has not sought an adjudication of the matter, including a hearing, or otherwise exhausted the administrative remedies within the registered clearing agency with respect to such a matter. (e) Contents of notice required by paragraph (d) of this section. Any notice filed pursuant to paragraph (d) of this section shall consist of the following, as appropriate: (1) The name of each person concerned and each person's last known address, as reflected in the records of the clearing agency; (2) The specific grounds upon which the action of the clearing agency was based, and a statement describing the answer of the person concerned; (3) A statement setting forth findings of fact and conclusions as to each alleged failure of the person to comply with qualification standards or administrative obligations, and a statement of the clearing agency in support of its resolution of the principal issues raised in the proceeding; (4) The date upon which such action became or will become effective; and (5) Such other matters as the clearing agency deems relevant. (f) Notice of final action based on prior adjudicated statutory disqualifications. Any registered clearing agency for which the Board is the appropriate regulatory agency that takes any final action shall promptly file notice thereof with the Board (and the appropriate regulatory agency, if other than the Board, for the affected person) in accordance with paragraph (g) of this section, where the final action: (1) Denies or conditions participation to any person, or prohibits or limits access to services offered by the clearing agency; and (2) Is based upon a statutory disqualification of a type defined in paragraph (A), (B) or (C) of section 3(a)(39) of the Act, consisting of a prior conviction, as described in subparagraph (E) of section 3(a)(39) of the Act. However, no such action shall be considered final pursuant to this paragraph (f) that results merely from a notice of such disqualification to the person affected, if such person has not sought an adjudication of the matter, including a hearing, or otherwise exhausted the administrative remedies within the clearing agency with respect to such a matter. (g) Contents of notice required by paragraph (f) of this section. Any notice filed pursuant to paragraph (f) of this section shall consist of the following, as appropriate: (1) The name of each person concerned and each person's last known address, as reflected in the records of the clearing agency; (2) A statement setting forth the principal issues raised, the answer of any person concerned, and a statement of the clearing agency in support of its resolution of the principal issues raised in the proceeding; (3) Any description furnished by or on behalf of the person concerned of the activities engaged in by the person since the adjudication upon which the disqualification is based; [[Page 211]] (4) A copy of the order or decision of the court, appropriate regulatory agency, or self-regulatory organization that adjudicated the matter giving rise to the statutory disqualification; (5) The nature of the action taken and the date upon which such action is to be made effective; and (6) Such other matters as the clearing agency deems relevant. (h) Notice of summary suspension of participation. Any registered clearing agency for which the Board is the appropriate regulatory agency that summarily suspends or closes the accounts of a participant pursuant to the provisions of section 17A(b)(5)(C) of the Act shall, within one business day after such action becomes effective, file notice thereof with the Board and the appropriate regulatory agency for the participant, if other than the Board, of such action in accordance with paragraph (i) of this section. (i) Contents of notice of summary suspension. Any notice pursuant to paragraph (h) of this section shall contain at least the following information, as appropriate: (1) The name of the participant concerned and the participant's last known address, as reflected in the records of the clearing agency; (2) The date upon which the summary action became or will become effective; (3) If the summary action is based upon the provisions of section 17A(b)(5)(C)(i) of the Act, a copy of the relevant order or decision of the self-regulatory organization, if available to the clearing agency; (4) If the summary action is based upon the provisions of section 17A(b)(5)(C)(ii) of the Act, a statement describing the default of any delivery of funds or securities to the clearing agency; (5) If the summary action is based upon the provisions of section 17A(b)(5)(C)(iii) of the Act, a statement describing the financial or operating difficulty of the participant based upon which the clearing agency determined that the suspension and closing of accounts was necessary for the protection of the clearing agency, its participants, creditors, or investors; (6) The nature and effective date of the suspension; and (7) Such other matters as the clearing agency deems relevant. Sec. 208.33 Application for stay or review of disciplinary sanctions imposed by registered clearing agency. (a) Stays. The rules adopted by the Securities and Exchange Commission (SEC) pursuant to section 19 of the Securities Exchange Act of 1934 (15 U.S.C. 78s) regarding applications by persons for whom the SEC is the appropriate regulatory agency for stays of disciplinary sanctions or summary suspensions imposed by registered clearing agencies (17 CFR 240.19d-2) apply to applications by member banks. References to the ``Commission'' are deemed to refer to the Board. (b) Reviews. The regulations adopted by the Securities and Exchange Commission pursuant to section 19 of the Securities and Exchange Act of 1934 (15 U.S.C. 78s) regarding applications by persons for whom the SEC is the appropriate regulatory agency for reviews of final disciplinary sanctions, denials of participation, or prohibitions or limitations of access to services imposed by registered clearing agencies (17 CFR 240.19d-3(a)-(f)) apply to applications by member banks. References to the ``Commission'' are deemed to refer to the Board. The Board's Uniform Rules of Practice and Procedure (12 CFR part 263) apply to review proceedings under this Sec. 208.33 to the extent not inconsistent with this Sec. 208.33. Sec. 208.34 Recordkeeping and confirmation of certain securities transactions effected by State member banks. (a) Exceptions and safe and sound operations. (1) A State member bank may be excepted from one or more of the requirements of this section if it meets one of the following conditions of paragraphs (a)(1)(i) through (a)(1)(iv) of this section: (i) De minimis transactions. The requirements of paragraphs (c)(2) through (c)(4) and paragraphs (e)(1) through (e)(3) of this section shall not apply to banks having an average of less than 200 securities transactions per year for customers over the prior three calendar year period, exclusive of transactions in government securities; [[Page 212]] (ii) Government securities. The recordkeeping requirements of paragraph (c) of this section shall not apply to banks effecting fewer than 500 government securities brokerage transactions per year; provided that this exception shall not apply to government securities transactions by a State member bank that has filed a written notice, or is required to file notice, with the Federal Reserve Board that it acts as a government securities broker or a government securities dealer; (iii) Municipal securities. The municipal securities activities of a State member bank that are subject to regulations promulgated by the Municipal Securities Rulemaking Board shall not be subject to the requirements of this section; and (iv) Foreign branches. The requirements of this section shall not apply to the activities of foreign branches of a State member bank. (2) Every State member bank qualifying for an exemption under paragraph (a)(1) of this section that conducts securities transactions for customers shall, to ensure safe and sound operations, maintain effective systems of records and controls regarding its customer securities transactions that clearly and accurately reflect appropriate information and provide an adequate basis for an audit of the information. (b) Definitions. For purposes of this section: (1) Asset-backed security shall mean a security that is serviced primarily by the cash flows of a discrete pool of receivables or other financial assets, either fixed or revolving, that by their terms convert into cash within a finite time period plus any rights or other assets designed to assure the servicing or timely distribution of proceeds to the security holders. (2) Collective investment fund shall mean funds held by a State member bank as fiduciary and, consistent with local law, invested collectively as follows: (i) In a common trust fund maintained by such bank exclusively for the collective investment and reinvestment of monies contributed thereto by the bank in its capacity as trustee, executor, administrator, guardian, or custodian under the Uniform Gifts to Minors Act; or (ii) In a fund consisting solely of assets of retirement, pension, profit sharing, stock bonus or similar trusts which are exempt from Federal income taxation under the Internal Revenue Code (26 U.S.C.). (3) Completion of the transaction effected by or through a state member bank shall mean: (i) For purchase transactions, the time when the customer pays the bank any part of the purchase price (or the time when the bank makes the book-entry for any part of the purchase price if applicable); however, if the customer pays for the security prior to the time payment is requested or becomes due, then the transaction shall be completed when the bank transfers the security into the account of the customer; and (ii) For sale transactions, the time when the bank transfers the security out of the account of the customer or, if the security is not in the bank's custody, then the time when the security is delivered to the bank; however, if the customer delivers the security to the bank prior to the time delivery is requested or becomes due then the transaction shall be completed when the banks makes payment into the account of the customer. (4) Crossing of buy and sell orders shall mean a security transaction in which the same bank acts as agent for both the buyer and the seller. (5) Customer shall mean any person or account, including any agency, trust, estate, guardianship, or other fiduciary account, for which a State member bank effects or participates in effecting the purchase or sale of securities, but shall not include a broker, dealer, bank acting as a broker or dealer, municipal securities broker or dealer, or issuer of the securities which are the subject of the transactions. (6) Debt security as used in paragraph (c) of this section shall mean any security, such as a bond, debenture, note or any other similar instrument which evidences a liability of the issuer (including any security of this type that is convertible into stock or similar security) and fractional or participation interests in one or more of any of the [[Page 213]] foregoing; provided, however, that securities issued by an investment company registered under the Investment Company Act of 1940, 15 U.S.C. 80a-1 et seq., shall not be included in this definition. (7) Government security shall mean: (i) A security that is a direct obligation of, or obligation guaranteed as to principal and interest by, the United States; (ii) A security that is issued or guaranteed by a corporation in which the United States has a direct or indirect interest and which is designated by the Secretary of the Treasury for exemption as necessary or appropriate in the public interest or for the protection of investors; (iii) A security issued or guaranteed as to principal and interest by any corporation whose securities are designated, by statute specifically naming the corporation, to constitute exempt securities within the meaning of the laws administered by the Securities and Exchange Commission; or (iv) Any put, call, straddle, option, or privilege on a security as described in paragraphs (b)(7) (i), (ii), or (iii) of this section other than a put, call, straddle, option, or privilege that is traded on one or more national securities exchanges, or for which quotations are disseminated though an automated quotation system operated by a registered securities association. (8) Investment discretion with respect to an account shall mean if the State member bank, directly or indirectly, is authorized to determine what securities or other property shall be purchased or sold by or for the account, or makes decisions as to what securities or other property shall be purchased or sold by or for the account even though some other person may have responsibility for such investment decisions. (9) Municipal security shall mean a security which is a direct obligation of, or obligation guaranteed as to principal or interest by, a State or any political subdivision thereof, or any agency or instrumentality of a State or any political subdivision thereof, or any municipal corporate instrumentality of one or more States, or any security which is an industrial development bond (as defined in 26 U.S.C. 103(c)(2) the interest on which is excludable from gross income under 26 U.S.C. 103(a)(1), by reason of the application of paragraph (4) or (6) of 26 U.S.C. 103(c) (determined as if paragraphs (4)(A), (5) and (7) were not included in 26 U.S.C. 103(c)), paragraph (1) of 26 U.S.C. 103(c) does not apply to such security. (10) Periodic plan shall mean: (i) A written authorization for a State member bank to act as agent to purchase or sell for a customer a specific security or securities, in a specific amount (calculated in security units or dollars) or to the extent of dividends and funds available, at specific time intervals, and setting forth the commission or charges to be paid by the customer or the manner of calculating them (including dividend reinvestment plans, automatic investment plans, and employee stock purchase plans); or (ii) Any prearranged, automatic transfer or sweep of funds from a deposit account to purchase a security, or any prearranged, automatic redemption or sale of a security with the funds being transferred into a deposit account (including cash management sweep services). (11) Security shall mean: (i) Any note, stock, treasury stock, bond, debenture, certificate of interest or participation in any profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, for a security, any put, call, straddle, option, or privilege on any security, or group or index of securities (including any interest therein or based on the value thereof), any instrument commonly known as a ``security''; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing. (ii) But does not include a deposit or share account in a federally or state insured depository institution, a loan participation, a letter of credit or other form of bank indebtedness incurred in the ordinary course of business, currency, any note, draft, bill of exchange, or bankers acceptance which has a maturity at the time of issuance [[Page 214]] of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited, units of a collective investment fund, interests in a variable amount (master) note of a borrower of prime credit, or U.S. Savings Bonds. (c) Recordkeeping. Except as provided in paragraph (a) of this section, every State member bank effecting securities transactions for customers, including transactions in government securities, and municipal securities transactions by banks not subject to registration as municipal securities dealers, shall maintain the following records with respect to such transactions for at least three years. Nothing contained in this section shall require a bank to maintain the records required by this paragraph in any given manner, provided that the information required to be shown is clearly and accurately reflected and provides an adequate basis for the audit of such information. Records may be maintained in hard copy, automated, or electronic form provided the records are easily retrievable, readily available for inspection, and capable of being reproduced in a hard copy. A bank may contract with third party service providers, including broker/dealers, to maintain records required under this part. (1) Chronological records of original entry containing an itemized daily record of all purchases and sales of securities. The records of original entry shall show the account or customer for which each such transaction was effected, the description of the securities, the unit and aggregate purchase or sale price (if any), the trade date and the name or other designation of the broker/dealer or other person from whom purchased or to whom sold; (2) Account records for each customer which shall reflect all purchases and sales of securities, all receipts and deliveries of securities, and all receipts and disbursements of cash with respect to transactions in securities for such account and all other debits and credits pertaining to transactions in securities; (3) A separate memorandum (order ticket) of each order to purchase or sell securities (whether executed or canceled), which shall include: (i) The account(s) for which the transaction was effected; (ii) Whether the transaction was a market order, limit order, or subject to special instructions; (iii) The time the order was received by the trader or other bank employee responsible for effecting the transaction; (iv) The time the order was placed with the broker/dealer, or if there was no broker/dealer, the time the order was executed or canceled; (v) The price at which the order was executed; and (vi) The broker/dealer utilized; (4) A record of all broker/dealers selected by the bank to effect securities transactions and the amount of commissions paid or allocated to each such broker during the calendar year; and (5) A copy of the written notification required by paragraphs (d) and (e) of this section. (d) Content and time of notification. Every State member bank effecting a securities transaction for a customer shall give or send to such customer either of the following types of notifications at or before completion of the transaction or; if the bank uses a broker/ dealer's confirmation, within one business day from the bank's receipt of the broker/dealer's confirmation: (1) A copy of the confirmation of a broker/dealer relating to the securities transaction; and if the bank is to receive remuneration from the customer or any other source in connection with the transaction, and the remuneration is not determined pursuant to a prior written agreement between the bank and the customer, a statement of the source and the amount of any remuneration to be received; or (2) A written notification disclosing: (i) The name of the bank; (ii) The name of the customer; (iii) Whether the bank is acting as agent for such customer, as agent for both such customer and some other person, as principal for its own account, or in any other capacity; (iv) The date of execution and a statement that the time of execution will be furnished within a reasonable time upon written request of such customer specifying the identity, price [[Page 215]] and number of shares or units (or principal amount in the case of debt securities) of such security purchased or sold by such customer; (v) The amount of any remuneration received or to be received, directly or indirectly, by any broker/dealer from such customer in connection with the transaction; (vi) The amount of any remuneration received or to be received by the bank from the customer and the source and amount of any other remuneration to be received by the bank in connection with the transaction, unless remuneration is determined pursuant to a written agreement between the bank and the customer, provided, however, in the case of Government securities and municipal securities, this paragraph (d)(2)(vi) shall apply only with respect to remuneration received by the bank in an agency transaction. If the bank elects not to disclose the source and amount of remuneration it has or will receive from a party other than the customer pursuant to this paragraph (d)(2)(vi), the written notification must disclose whether the bank has received or will receive remuneration from a party other than the customer, and that the bank will furnish within a reasonable time the source and amount of this remuneration upon written request of the customer. This election is not available, however, if, with respect to a purchase, the bank was participating in a distribution of that security; or with respect to a sale, the bank was participating in a tender offer for that security; (vii) The name of the broker/dealer utilized; or, where there is no broker/dealer, the name of the person from whom the security was purchased or to whom it was sold, or the fact that such information will be furnished within a reasonable time upon written request; (viii) In the case of a transaction in a debt security subject to redemption before maturity, a statement to the effect that the debt security may be redeemed in whole or in part before maturity, that the redemption could affect the yield represented and that additional information is available on request; (ix) In the case of a transaction in a debt security effected exclusively on the basis of a dollar price: (A) The dollar price at which the transaction was effected; (B) The yield to maturity calculated from the dollar price; provided, however, that this paragraph (c)(2)(ix)(B) shall not apply to a transaction in a debt security that either has a maturity date that may be extended by the issuer with a variable interest payable thereon, or is an asset-backed security that represents an interest in or is secured by a pool of receivables or other financial assets that are subject to continuous prepayment; (x) In the case of a transaction in a debt security effected on the basis of yield: (A) The yield at which the transaction was effected, including the percentage amount and its characterization (e.g., current yield, yield to maturity, or yield to call) and if effected at yield to call, the type of call, the call date, and the call price; and (B) The dollar price calculated from the yield at which the transaction was effected; and (C) If effected on a basis other than yield to maturity and the yield to maturity is lower than the represented yield, the yield to maturity as well as the represented yield; provided, however, that this paragraph (c)(2)(x)(C) shall not apply to a transaction in a debt security that either has a maturity date that may be extended by the issuer with a variable interest rate payable thereon, or is an asset- backed security that represents an interest in or is secured by a pool of receivables or other financial assets that are subject to continuous prepayment; (xi) In the case of a transaction in a debt security that is an asset-backed security which represents an interest in or is secured by a pool of receivables or other financial assets that are subject continuously to prepayment, a statement indicating that the actual yield of such asset-backed security may vary according to the rate at which the underlying receivables or other financial assets are prepaid and a statement of the fact that information concerning the factors that affect yield [[Page 216]] (including at a minimum, the estimated yield, weighted average life, and the prepayment assumptions underlying yield) will be furnished upon written request of such customer; and (xii) In the case of a transaction in a debt security, other than a government security, that the security is unrated by a nationally recognized statistical rating organization, if that is the case. (e) Notification by agreement; alternative forms and times of notification. A State member bank may elect to use the following alternative procedures if a transaction is effected for: (1) Accounts (except periodic plans) where the bank does not exercise investment discretion and the bank and the customer agree in writing to a different arrangement as to the time and content of the notification; provided, however, that such agreement makes clear the customer's right to receive the written notification pursuant to paragraph (c) of this section at no additional cost to the customer; (2) Accounts (except collective investment funds) where the bank exercises investment discretion in other than an agency capacity, in which instance the bank shall, upon request of the person having the power to terminate the account or, if there is no such person, upon the request of any person holding a vested beneficial interest in such account, give or send to such person the written notification within a reasonable time. The bank may charge such person a reasonable fee for providing this information; (3) Accounts, where the bank exercises investment discretion in an agency capacity, in which instance: (i) The bank shall give or send to each customer not less frequently than once every three months an itemized statement which shall specify the funds and securities in the custody or possession of the bank at the end of such period and all debits, credits and transactions in the customer's accounts during such period; and (ii) If requested by the customer, the bank shall give or send to each customer within a reasonable time the written notification described in paragraph (c) of this section. The bank may charge a reasonable fee for providing the information described in paragraph (c) of this section; (4) A collective investment fund, in which instance the bank shall at least annually furnish a copy of a financial report of the fund, or provide notice that a copy of such report is available and will be furnished upon request, to each person to whom a regular periodic accounting would ordinarily be rendered with respect to each participating account. This report shall be based upon an audit made by independent public accountants or internal auditors responsible only to the board of directors of the bank; (5) A periodic plan, in which instance the bank: (i) Shall (except for a cash management sweep service) give or send to the customer a written statement not less than every three months if there are no securities transactions in the account, showing the customer's funds and securities in the custody or possession of the bank; all service charges and commissions paid by the customer in connection with the transaction; and all other debits and credits of the customer's account involved in the transaction; or (ii) Shall for a cash management sweep service or similar periodic plan as defined in Sec. 208.34(b)(10)(ii) give or send its customer a written statement in the same form as prescribed in paragraph (e)(3) above for each month in which a purchase or sale of a security takes place in a deposit account and not less than once every three months if there are no securities transactions in the account subject to any other applicable laws or regulations; (6) Upon the written request of the customer the bank shall furnish the information described in paragraph (d) of this section, except that any such information relating to remuneration paid in connection with the transaction need not be provided to the customer when paid by a source other than the customer. The bank may charge a reasonable fee for providing the information described in paragraph (d) of this section. (f) Settlement of securities transactions. All contracts for the purchase or sale [[Page 217]] of a security shall provide for completion of the transaction within the number of business days in the standard settlement cycle for the security followed by registered broker dealers in the United States unless otherwise agreed to by the parties at the time of the transaction. (g) Securities trading policies and procedures. Every State member bank effecting securities transactions for customers shall establish written policies and procedures providing: (1) Assignment of responsibility for supervision of all officers or employees who: (i) Transmit orders to or place orders with broker/dealers; (ii) Execute transactions in securities for customers; or (iii) Process orders for notification and/or settlement purposes, or perform other back office functions with respect to securities transactions effected for customers; provided that procedures established under this paragraph (g)(1)(iii) should provide for supervision and reporting lines that are separate from supervision of personnel under paragraphs (g)(1)(i) and (g)(1)(ii) of this section; (2) For the fair and equitable allocation of securities and prices to accounts when orders for the same security are received at approximately the same time and are placed for execution either individually or in combination; (3) Where applicable and where permissible under local law, for the crossing of buy and sell orders on a fair and equitable basis to the parties to the transaction; and (4) That bank officers and employees who make investment recommendations or decisions for the accounts of customers, who participate in the determination of such recommendations or decisions, or who, in connection with their duties, obtain information concerning which securities are being purchased or sold or recommended for such action, must report to the bank, within ten days after the end of the calendar quarter, all transactions in securities made by them or on their behalf, either at the bank or elsewhere in which they have a beneficial interest. The report shall identify the securities purchased or sold and indicate the dates of the transactions and whether the transactions were purchases or sales. Excluded from this requirement are transactions for the benefit of the officer or employee over which the officer or employee has no direct or indirect influence or control, transactions in mutual fund shares, and all transactions involving in the aggregate $10,000 or less during the calendar quarter. For purposes of this paragraph (g)(4), the term securities does not include government securities. Sec. 208.35 Qualification requirements for transactions in certain securities. [Reserved] Sec. 208.36 Reporting requirements for State member banks subject to the Securities Exchange Act of 1934. (a) Filing, disclosure and other requirements--(1) General. Except as otherwise provided in this section, a member bank whose securities are subject to registration pursuant to section 12(b) or section 12(g) of the Securities Exchange Act of 1934 (the 1934 Act) (15 U.S.C. 78l(b) and (g)) shall comply with the rules, regulations and forms adopted by the Securities and Exchange Commission (Commission) pursuant to-- (i) Sections 10A(m), 12, 13, 14(a), 14(c), 14(d), 14(f) and 16 of the 1934 Act (15 U.S.C. 78f(m), 78l, 78m, 78n(a), (c), (d) and (f), and 78p); and (ii) Sections 302, 303, 304, 306, 401(b), 404, 406 and 407 of the Sarbanes-Oxley Act of 2002 (codified at 15 U.S.C. 7241, 7242, 7243, 7244, 7261, 7262, 7264 and 7265). (2) References to the Commission. Any references to the ``Securities and Exchange Commission'' or the ``Commission'' in the rules, regulations and forms described in paragraph (a)(1) of this section shall with respect to securities issued by member banks be deemed to refer to the Board unless the context otherwise requires. (b) Elections permitted for member banks with total assets of $150 million or less. (1) Notwithstanding paragraph (a) of this section or the rules and regulations promulgated by the Commission pursuant to the 1934 Act a member bank that has total assets of $150 million or less as of the end of its most recent fiscal year, and no foreign offices, [[Page 218]] may elect to substitute for the financial statements required by the Commission's Form 10-Q, the balance sheet and income statement from the quarterly report of condition required to be filed by the bank with the Board under section 9 of the Federal Reserve Act (12 U.S.C. 324) (Federal Financial Institutions Examination Council Form 033 or 034). (2) A member bank qualifying for and electing to file financial statements from its quarterly report of condition pursuant to paragraph (b)(1) of this section in its form 10-Q shall include earnings per share or net loss per share data prepared in accordance with GAAP and disclose any material contingencies, as required by Article 10 of the Commission's Regulation S-X (17 CFR 210.10-01), in the Management's Discussion and Analysis of Financial Condition and Results of Operations section of Form 10-Q. (3) Notwithstanding paragraph (b)(1) of this section, a member bank may, from December 2, 2020, through December 31, 2021, make the election described in paragraph (b)(1) of this section if it has no foreign offices and had total assets of $150 million or less, determined based on the lesser of total assets as of December 31, 2019, and total assets as of the end of the bank's most recent fiscal year. The relief provided under this paragraph (b)(3) of this section does not apply to a member bank if the Board determines that permitting the member bank to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the member bank. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the member bank since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the member bank has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the member bank. In making a determination pursuant to this paragraph (b)(3), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (c) Required filings--(1) Place and timing of filing. All papers required to be filed with the Board, pursuant to the 1934 Act or regulations thereunder, shall be submitted to the Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, NW., Washington, DC 20551. Material may be filed by delivery to the Board, through the mails, or otherwise. The date on which papers are actually received by the Board shall be the date of filing thereof if all of the requirements with respect to the filing have been complied with. (2) Filing fees. No filing fees specified by the Commission's rules shall be paid to the Board. (3) Public inspection. Copies of the registration statement, definitive proxy solicitation materials, reports, and annual reports to shareholders required by this section (exclusive of exhibits) shall be available for public inspection at the Board's offices in Washington, DC, as well as at the Federal Reserve Banks of New York, Chicago, and San Francisco and at the Reserve Bank in the district in which the reporting bank is located. (d) Confidentiality of filing. Any person filing any statement, report, or document under the 1934 Act may make written objection to the public disclosure of any information contained therein in accordance with the following procedure: (1) The person shall omit from the statement, report, or document, when it is filed, the portion thereof that the person desires to keep undisclosed (hereinafter called the confidential portion). The person shall indicate at the appropriate place in the statement, report, or document that the confidential portion has been omitted and filed separately with the Board. (2) The person shall file the following with the copies of the statement, report, or document filed with the Board: (i) As many copies of the confidential portion, each clearly marked ``CONFIDENTIAL TREATMENT,'' as there are copies of the statement, report, or document filed with the Board. Each [[Page 219]] copy of the confidential portion shall contain the complete text of the item and, notwithstanding that the confidential portion does not constitute the whole of the answer, the entire answer thereto; except that in case the confidential portion is part of a financial statement or schedule, only the particular financial statement or schedule need be included. All copies of the confidential portion shall be in the same form as the remainder of the statement, report, or document; and (ii) An application making objection to the disclosure of the confidential portion. The application shall be on a sheet or sheets separate from the confidential portion, and shall: (A) Identify the portion of the statement, report, or document that has been omitted; (B) Include a statement of the grounds of objection; and (C) Include the name of each exchange, if any, with which the statement, report, or document is filed. (3) The copies of the confidential portion and the application filed in accordance with this paragraph shall be enclosed in a separate envelope marked ``CONFIDENTIAL TREATMENT,'' and addressed to Secretary, Board of Governors of the Federal Reserve System, Washington, DC 20551. (4) Pending determination by the Board on the objection filed in accordance with this paragraph, the confidential portion shall not be disclosed by the Board. (5) If the Board determines to sustain the objection, a notation to that effect shall be made at the appropriate place in the statement, report, or document. (6) If the Board determines not to sustain the objection because disclosure of the confidential portion is in the public interest, a finding and determination to that effect shall be entered and notice of the finding and determination sent by registered or certified mail to the person. (7) If the Board determines not to sustain the objection, pursuant to paragraph (d)(6) of this section, the confidential portion shall be made available to the public: (i) 15 days after notice of the Board's determination not to sustain the objection has been given, as required by paragraph (d)(6) of this section, provided that the person filing the objection has not previously filed with the Board a written statement that he intends, in good faith, to seek judicial review of the finding and determination; or (ii) 60 days after notice of the Board's determination not to sustain the objection has been given as required by paragraph (d)(6) of this section and the person filing the objection has filed with the Board a written statement of intent to seek judicial review of the finding and determination, but has failed to file a petition for judicial review of the Board's determination; or (iii) Upon final judicial determination, if adverse to the party filing the objection. (8) If the confidential portion is made available to the public, a copy thereof shall be attached to each copy of the statement, report, or document filed with the Board. [63 FR 37646, July 13, 1998, as amended at 67 FR 57941, Sept. 13, 2002; 68 FR 4096, Jan. 28, 2003; 85 FR 77360, Dec. 2, 2020] Sec. 208.37 Government securities sales practices. (a) Scope. This subpart is applicable to state member banks that have filed notice as, or are required to file notice as, government securities brokers or dealers pursuant to section 15C of the Securities Exchange Act (15 U.S.C. 78o-5) and Department of the Treasury rules under section 15C (17 CFR 400.1(d) and part 401). (b) Definitions. For purposes of this section: (1) Bank that is a government securities broker or dealer means a state member bank that has filed notice, or is required to file notice, as a government securities broker or dealer pursuant to section 15C of the Securities Exchange Act (15 U.S.C. 78o-5) and Department of the Treasury rules under section 15C (17 CFR 400.1(d) and Part 401). (2) Customer does not include a broker or dealer or a government securities broker or dealer. (3) Government security has the same meaning as this term has in section 3(a)(42) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(42)). [[Page 220]] (4) Non-institutional customer means any customer other than: (i) A bank, savings association, insurance company, or registered investment company; (ii) An investment adviser registered under section 203 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-3); or (iii) Any entity (whether a natural person, corporation, partnership, trust, or otherwise) with total assets of at least $50 million. (c) Business conduct. A bank that is a government securities broker or dealer shall observe high standards of commercial honor and just and equitable principles of trade in the conduct of its business as a government securities broker or dealer. (d) Recommendations to customers. In recommending to a customer the purchase, sale or exchange of a government security, a bank that is a government securities broker or dealer shall have reasonable grounds for believing that the recommendation is suitable for the customer upon the basis of the facts, if any, disclosed by the customer as to the customer's other security holdings and as to the customer's financial situation and needs. (e) Customer information. Prior to the execution of a transaction recommended to a non-institutional customer, a bank that is a government securities broker or dealer shall make reasonable efforts to obtain information concerning: (1) The customer's financial status; (2) The customer's tax status; (3) The customer's investment objectives; and (4) Such other information used or considered to be reasonable by the bank in making recommendations to the customer. Subpart D_Prompt Corrective Action Source: 63 FR 37652, July 13, 1998, unless otherwise noted. Sec. 208.40 Authority, purpose, scope, other supervisory authority, and disclosure of capital categories. (a) Authority. Subpart D of Regulation H (12 CFR part 208, Subpart D) is issued by the Board of Governors of the Federal Reserve System (Board) under section 38 (section 38) of the FDI Act as added by section 131 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (Pub. L. 102-242, 105 Stat. 2236 (1991)) (12 U.S.C. 1831o). (b) Purpose and scope. This subpart D defines the capital measures and capital levels that are used for determining the supervisory actions authorized under section 38 of the FDI Act. (Section 38 of the FDI Act establishes a framework of supervisory actions for insured depository institutions that are not adequately capitalized.) This subpart also establishes procedures for submission and review of capital restoration plans and for issuance and review of directives and orders pursuant to section 38. Certain of the provisions of this subpart apply to officers, directors, and employees of state member banks. Other provisions apply to any company that controls a member bank and to the affiliates of the member bank. (c) Other supervisory authority. Neither section 38 nor this subpart in any way limits the authority of the Board under any other provision of law to take supervisory actions to address unsafe or unsound practices or conditions, deficient capital levels, violations of law, or other practices. Action under section 38 of the FDI Act and this subpart may be taken independently of, in conjunction with, or in addition to any other enforcement action available to the Board, including issuance of cease and desist orders, capital directives, approval or denial of applications or notices, assessment of civil money penalties, or any other actions authorized by law. (d) Disclosure of capital categories. The assignment of a bank under this subpart within a particular capital category is for purposes of implementing and applying the provisions of section 38. Unless permitted by the Board or otherwise required by law, no bank may state in any advertisement or promotional material its capital category under this subpart or that the Board or any other Federal banking agency has assigned the bank to a particular capital category. (e) Timing. The calculation of the definitions of common equity tier 1 [[Page 221]] capital, the common equity tier 1 risk-based capital ratio, the leverage ratio, the supplementary leverage ratio, tangible equity, tier 1 capital, the tier 1 risk-based capital ratio, total assets, total leverage exposure, the total risk-based capital ratio, and total risk- weighted assets under this subpart is subject to the timing provisions at 12 CFR 217.1(f) and the transitions at 12 CFR part 217, subpart G. [63 FR 37652, July 13, 1998, as amended by Reg. H, 78 FR 62282, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.41 Definitions for purposes of this subpart. For purposes of this subpart, except as modified in this section or unless the context otherwise requires, the terms used have the same meanings as set forth in section 38 and section 3 of the FDI Act. (a) Advanced approaches bank means a bank that is described in Sec. 217.100(b)(1) of Regulation Q (12 CFR 217.100(b)(1)). (b) Bank means an insured depository institution as defined in section 3 of the FDI Act (12 U.S.C. 1813). (c) Common equity tier 1 capital means the amount of capital as defined in Sec. 217.2 of Regulation Q (12 CFR 217.2). (d) Common equity tier 1 risk-based capital ratio means the ratio of common equity tier 1 capital to total risk-weighted assets, as calculated in accordance with Sec. 217.10(b)(1) or Sec. 217.10(c)(1) of Regulation Q (12 CFR 217.10(b)(1), 12 CFR 217.10(c)(1)), as applicable. (e) Control--(1) Control has the same meaning assigned to it in section 2 of the Bank Holding Company Act (12 U.S.C. 1841), and the term controlled shall be construed consistently with the term control. (2) Exclusion for fiduciary ownership. No insured depository institution or company controls another insured depository institution or company by virtue of its ownership or control of shares in a fiduciary capacity. Shares shall not be deemed to have been acquired in a fiduciary capacity if the acquiring insured depository institution or company has sole discretionary authority to exercise voting rights with respect to the shares. (3) Exclusion for debts previously contracted. No insured depository institution or company controls another insured depository institution or company by virtue of its ownership or control of shares acquired in securing or collecting a debt previously contracted in good faith, until two years after the date of acquisition. The two-year period may be extended at the discretion of the appropriate Federal banking agency for up to three one-year periods. (f) Controlling person means any person having control of an insured depository institution and any company controlled by that person. (g) Global systemically important BHC has the same meaning as in Sec. 217.2 of Regulation Q (12 CFR 217.2). (h) Leverage ratio means the ratio of tier 1 capital to average total consolidated assets, as calculated in accordance with Sec. 217.10 of Regulation Q (12 CFR 217.10). (i) Management fee means any payment of money or provision of any other thing of value to a company or individual for the provision of management services or advice to the bank, or related overhead expenses, including payments related to supervisory, executive, managerial, or policy making functions, other than compensation to an individual in the individual's capacity as an officer or employee of the bank. (j) Supplementary leverage ratio means the ratio of tier 1 capital to total leverage exposure, as calculated in accordance with Sec. 217.10 of Regulation Q (12 CFR 217.10). (k) Tangible equity means the amount of tier 1 capital, plus the amount of outstanding perpetual preferred stock (including related surplus) not included in tier 1 capital. (l) Tier 1 capital means the amount of capital as defined in Sec. 217.20 of Regulation Q (12 CFR 217.20). (m) Tier 1 risk-based capital ratio means the ratio of tier 1 capital to total risk-weighted assets, as calculated in accordance with Sec. 217.10(b)(2) or Sec. 217.10(c)(2) of Regulation Q (12 CFR 217.10(b)(2), 12 CFR 217.10(c)(2)), as applicable. (n) Total assets means quarterly average total assets as reported in a bank's [[Page 222]] Call Report, minus items deducted from tier 1 capital. At its discretion the Federal Reserve may calculate total assets using a bank's period-end assets rather than quarterly average assets. (o) Total leverage exposure means the total leverage exposure, as calculated in accordance with Sec. 217.11 of Regulation Q (12 CFR 217.11). (p) Total risk-based capital ratio means the ratio of total capital to total risk-weighted assets, as calculated in accordance with Sec. 217.10(b)(3) or Sec. 217.10(c)(3) of Regulation Q (12 CFR 217.10(b)(3), 12 CFR 217.10(c)(3)), as applicable. (q) Total risk-weighted assets means standardized total risk- weighted assets, and for an advanced approaches bank also includes advanced approaches total risk-weighted assets, as defined in Sec. 217.2 of Regulation Q (12 CFR 217.2). [Regulation H, 78 FR 62282, Oct. 11, 2013, as amended at 80 FR 49102, Aug. 14, 2015; 80 FR 70672, Nov. 16, 2015] Sec. 208.42 Notice of capital category. (a) Effective date of determination of capital category. A member bank shall be deemed to be within a given capital category for purposes of section 38 of the FDI Act and this subpart as of the date the bank is notified of, or is deemed to have notice of, its capital category, pursuant to paragraph (b) of this section. (b) Notice of capital category. A member bank shall be deemed to have been notified of its capital levels and its capital category as of the most recent date: (1) A Report of Condition and Income (Call Report) is required to be filed with the Board; (2) A final report of examination is delivered to the bank; or (3) Written notice is provided by the Board to the bank of its capital category for purposes of section 38 of the FDI Act and this subpart or that the bank's capital category has changed as provided in paragraph (c) of this section or Sec. 208.43(c). (c) Adjustments to reported capital levels and capital category--(1) Notice of adjustment by bank. A member bank shall provide the Board with written notice that an adjustment to the bank's capital category may have occurred no later than 15 calendar days following the date that any material event occurred that would cause the bank to be placed in a lower capital category from the category assigned to the bank for purposes of section 38 and this subpart on the basis of the bank's most recent Call Report or report of examination. (2) Determination by Board to change capital category. After receiving notice pursuant to paragraph (c)(1) of this section, the Board shall determine whether to change the capital category of the bank and shall notify the bank of the Board's determination. Sec. 208.43 Capital measures and capital category definitions. (a) Capital measures. (1) For purposes of section 38 of the FDI Act and this subpart, the relevant capital measures are: (i) Total Risk-Based Capital Measure: The total risk-based capital ratio; (ii) Tier 1 Risk-Based Capital Measure: The tier 1 risk-based capital ratio; (iii) Common Equity Tier 1 Capital Measure: The common equity tier 1 risk-based capital ratio; and (iv) Leverage Measure: (A) The leverage ratio; and (B) With respect to an advanced approaches bank, on January 1, 2018, and thereafter, the supplementary leverage ratio. (C) With respect to any bank that is a subsidiary (as defined in Sec. 217.2 of this chapter) of a global systemically important BHC, on Jan. 1, 2018, and thereafter, the supplementary leverage ratio. (2) For a qualifying community banking organization (as defined in Sec. 217.12 of this chapter), that has elected to use the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), the leverage ratio calculated in accordance with Sec. 217.12(b) of this chapter is used to determine the well capitalized capital category under paragraph (b)(1)(i)(A) through (D) of this section. (b) Capital categories. For purposes of section 38 of the FDI Act and this subpart, a member bank is deemed to be: (1)(i) ``Well capitalized'' if: [[Page 223]] (A) Total Risk-Based Capital Measure: The bank has a total risk- based capital ratio of 10.0 percent or greater; and (B) Tier 1 Risk-Based Capital Measure: The bank has a tier 1 risk- based capital ratio of 8.0 percent or greater; and (C) Common Equity Tier 1 Capital Measure: The bank has a common equity tier 1 risk-based capital ratio of 6.5 percent or greater; and (D) Leverage Measure: (1) The bank has a leverage ratio of 5.0 percent or greater; and (2) Beginning on January 1, 2018, with respect to any bank that is a subsidiary of a global systemically important BHC under the definition of ``subsidiary'' in Sec. 217.2 of this chapter, the bank has a supplementary leverage ratio of 6.0 percent or greater; and (E) The bank is not subject to any written agreement, order, capital directive, or prompt corrective action directive issued by the Board pursuant to section 8 of the FDI Act, the International Lending Supervision Act of 1983 (12 U.S.C. 3907), or section 38 of the FDI Act, or any regulation thereunder, to meet and maintain a specific capital level for any capital measure. (ii) A qualifying community banking organization, as defined in Sec. 217.12 of this chapter, that has elected to use the community bank leverage ratio framework under Sec. 217.12 of this chapter, shall be considered to have met the capital ratio requirements for the well capitalized capital category in paragraph (b)(1)(i)(A) through (D) of this section. (2) ``Adequately capitalized'' if: (i) Total Risk-Based Capital Measure: the bank has a total risk- based capital ratio of 8.0 percent or greater; (ii) Tier 1 Risk-Based Capital Measure: the bank has a tier 1 risk- based capital ratio of 6.0 percent or greater; (iii) Common Equity Tier 1 Capital Measure: the bank has a common equity tier 1 risk-based capital ratio of 4.5 percent or greater; (iv) Leverage Measure: (A) The bank has a leverage ratio of 4.0 percent or greater; and (B) With respect to an advanced approaches bank or bank that is a Category III Board-regulated institution (as defined in Sec. 217.2 of this chapter), the bank has a supplementary leverage ratio of 3.0 percent or greater; and (v) The bank does not meet the definition of a ``well capitalized'' bank. (3) ``Undercapitalized'' if: (i) Total Risk-Based Capital Measure: the bank has a total risk- based capital ratio of less than 8.0 percent; (ii) Tier 1 Risk-Based Capital Measure: the bank has a tier 1 risk- based capital ratio of less than 6.0 percent; (iii) Common Equity Tier 1 Capital Measure: the bank has a common equity tier 1 risk-based capital ratio of less than 4.5 percent; or (iv) Leverage Measure: (A) The bank has a leverage ratio of less than 4.0 percent; or (B) With respect to an advanced approaches bank or bank that is a Category III Board-regulated institution (as defined in Sec. 217.2 of this chapter), the bank has a supplementary leverage ratio of less than 3.0 percent. (4) ``Significantly undercapitalized'' if: (i) Total Risk-Based Capital Measure: the bank has a total risk- based capital ratio of less than 6.0 percent; (ii) Tier 1 Risk-Based Capital Measure: the bank has a tier 1 risk- based capital ratio of less than 4.0 percent; (iii) Common Equity Tier 1 Capital Measure: the bank has a common equity tier 1 risk-based capital ratio of less than 3.0 percent; or (iv) Leverage Measure: the bank has a leverage ratio of less than 3.0 percent. (5) ``Critically undercapitalized'' if the bank has a ratio of tangible equity to total assets that is equal to or less than 2.0 percent. (c) Reclassification based on supervisory criteria other than capital. The Board may reclassify a well capitalized member bank as adequately capitalized and may require an adequately-capitalized or an undercapitalized member bank to comply with certain mandatory or discretionary supervisory actions as if the bank were in the next lower capital category (except that the Board may not reclassify a significantly undercapitalized bank as critically undercapitalized) (each of these [[Page 224]] actions are hereinafter referred to generally as ``reclassifications'') in the following circumstances: (1) Unsafe or unsound condition. The Board has determined, after notice and opportunity for hearing pursuant to 12 CFR 263.203, that the bank is in unsafe or unsound condition; or (2) Unsafe or unsound practice. The Board has determined, after notice and opportunity for hearing pursuant to 12 CFR 263.203, that, in the most recent examination of the bank, the bank received and has not corrected, a less-than-satisfactory rating for any of the categories of asset quality, management, earnings, liquidity, or sensitivity to market risk. [63 FR 37652, July 13, 1998, as amended by Reg. H, 78 FR 62283, Oct. 11, 2013; 79 FR 24540, May 1, 2014; 80 FR 49102, Aug. 14, 2015; 80 FR 70672, Nov. 16, 2015; 84 FR 61796, Nov. 13, 2019; 84 FR 70887, Dec. 26, 2019; 85 FR 32989, June 1, 2020] Sec. 208.44 Capital restoration plans. (a) Schedule for filing plan--(1) In general. A member bank shall file a written capital restoration plan with the appropriate Reserve Bank within 45 days of the date that the bank receives notice or is deemed to have notice that the bank is undercapitalized, significantly undercapitalized, or critically undercapitalized, unless the Board notifies the bank in writing that the plan is to be filed within a different period. An adequately capitalized bank that has been required, pursuant to Sec. 208.43(c), to comply with supervisory actions as if the bank were undercapitalized is not required to submit a capital restoration plan solely by virtue of the reclassification. (2) Additional capital restoration plans. Notwithstanding paragraph (a)(1) of this section, a bank that has already submitted and is operating under a capital restoration plan approved under section 38 and this subpart is not required to submit an additional capital restoration plan based on a revised calculation of its capital measures or a reclassification of the institution under Sec. 208.43(c), unless the Board notifies the bank that it must submit a new or revised capital plan. A bank that is notified that it must submit a new or revised capital restoration plan shall file the plan in writing with the appropriate Reserve Bank within 45 days of receiving such notice, unless the Board notifies the bank in writing that the plan is to be filed within a different period. (b) Contents of plan. All financial data submitted in connection with a capital restoration plan shall be prepared in accordance with the instructions provided on the Call Report, unless the Board instructs otherwise. The capital restoration plan shall include all of the information required to be filed under section 38(e)(2) of the FDI Act. A bank that is required to submit a capital restoration plan as the result of a reclassification of the bank pursuant to Sec. 208.43(c) shall include a description of the steps the bank will take to correct the unsafe or unsound condition or practice. No plan shall be accepted unless it includes any performance guarantee described in section 38(e)(2)(C) of that Act by each company that controls the bank. (c) Review of capital restoration plans. Within 60 days after receiving a capital restoration plan under this subpart, the Board shall provide written notice to the bank of whether the plan has been approved. The Board may extend the time within which notice regarding approval of a plan shall be provided. (d) Disapproval of capital plan. If the Board does not approve a capital restoration plan, the bank shall submit a revised capital restoration plan within the time specified by the Board. Upon receiving notice that its capital restoration plan has not been approved, any undercapitalized member bank (as defined in Sec. 208.43(b)(3)) shall be subject to all of the provisions of section 38 and this subpart applicable to significantly undercapitalized institutions. These provisions shall be applicable until such time as the Board approves a new or revised capital restoration plan submitted by the bank. (e) Failure to submit capital restoration plan. A member bank that is undercapitalized (as defined in Sec. 208.43(b)(3)) and that fails to submit a written capital restoration plan within the period provided in this section shall, upon the expiration of that period, be subject to all of the provisions of section 38 and [[Page 225]] this subpart applicable to significantly undercapitalized institutions. (f) Failure to implement capital restoration plan. Any undercapitalized member bank that fails in any material respect to implement a capital restoration plan shall be subject to all of the provisions of section 38 and this subpart applicable to significantly undercapitalized institutions. (g) Amendment of capital plan. A bank that has filed an approved capital restoration plan may, after prior written notice to and approval by the Board, amend the plan to reflect a change in circumstance. Until such time as a proposed amendment has been approved, the bank shall implement the capital restoration plan as approved prior to the proposed amendment. (h) Notice to FDIC. Within 45 days of the effective date of Board approval of a capital restoration plan, or any amendment to a capital restoration plan, the Board shall provide a copy of the plan or amendment to the Federal Deposit Insurance Corporation. (i) Performance guarantee by companies that control a bank--(1) Limitation on Liability--(i) Amount limitation. The aggregate liability under the guarantee provided under section 38 and this subpart for all companies that control a specific member bank that is required to submit a capital restoration plan under this subpart shall be limited to the lesser of: (A) An amount equal to 5.0 percent of the bank's total assets at the time the bank was notified or deemed to have notice that the bank was undercapitalized; or (B) The amount necessary to restore the relevant capital measures of the bank to the levels required for the bank to be classified as adequately capitalized, as those capital measures and levels are defined at the time that the bank initially fails to comply with a capital restoration plan under this subpart. (ii) Limit on duration. The guarantee and limit of liability under section 38 and this subpart shall expire after the Board notifies the bank that it has remained adequately capitalized for each of four consecutive calendar quarters. The expiration or fulfillment by a company of a guarantee of a capital restoration plan shall not limit the liability of the company under any guarantee required or provided in connection with any capital restoration plan filed by the same bank after expiration of the first guarantee. (iii) Collection on guarantee. Each company that controls a bank shall be jointly and severally liable for the guarantee for such bank as required under section 38 and this subpart, and the Board may require and collect payment of the full amount of that guarantee from any or all of the companies issuing the guarantee. (2) Failure to provide guarantee. In the event that a bank that is controlled by a company submits a capital restoration plan that does not contain the guarantee required under section 38(e)(2) of the FDI Act, the bank shall, upon submission of the plan, be subject to the provisions of section 38 and this subpart that are applicable to banks that have not submitted an acceptable capital restoration plan. (3) Failure to perform guarantee. Failure by any company that controls a bank to perform fully its guarantee of any capital plan shall constitute a material failure to implement the plan for purposes of section 38(f) of the FDI Act. Upon such failure, the bank shall be subject to the provisions of section 38 and this subpart that are applicable to banks that have failed in a material respect to implement a capital restoration plan. Sec. 208.45 Mandatory and discretionary supervisory actions under section 38. (a) Mandatory supervisory actions--(1) Provisions applicable to all banks. All member banks are subject to the restrictions contained in section 38(d) of the FDI Act on payment of capital distributions and management fees. (2) Provisions applicable to undercapitalized, significantly undercapitalized, and critically undercapitalized banks. Immediately upon receiving notice or being deemed to have notice, as provided in Sec. 208.42 or Sec. 208.44, that the bank is undercapitalized, significantly undercapitalized, or critically undercapitalized, the bank shall become subject to the provisions of section 38 of the FDI Act: [[Page 226]] (i) Restricting payment of capital distributions and management fees (section 38(d)); (ii) Requiring that the Board monitor the condition of the bank (section 38(e)(1)); (iii) Requiring submission of a capital restoration plan within the schedule established in this subpart (section 38(e)(2)); (iv) Restricting the growth of the bank's assets (section 38(e)(3)); and (v) Requiring prior approval of certain expansion proposals (section 3(e)(4)). (3) Additional provisions applicable to significantly undercapitalized, and critically undercapitalized banks. In addition to the provisions of section 38 of the FDI Act described in paragraph (a)(2) of this section, immediately upon receiving notice or being deemed to have notice, as provided in Sec. 208.42 or Sec. 208.44, that the bank is significantly undercapitalized, or critically undercapitalized, or that the bank is subject to the provisions applicable to institutions that are significantly undercapitalized because the bank failed to submit or implement in any material respect an acceptable capital restoration plan, the bank shall become subject to the provisions of section 38 of the FDI Act that restrict compensation paid to senior executive officers of the institution (section 38(f)(4)). (4) Additional provisions applicable to critically undercapitalized banks. In addition to the provisions of section 38 of the FDI Act described in paragraphs (a)(2) and (a)(3) of this section, immediately upon receiving notice or being deemed to have notice, as provided in Sec. 208.32, that the bank is critically undercapitalized, the bank shall become subject to the provisions of section 38 of the FDI Act: (i) Restricting the activities of the bank (section 38(h)(1)); and (ii) Restricting payments on subordinated debt of the bank (section 38(h)(2)). (b) Discretionary supervisory actions. In taking any action under section 38 that is within the Board's discretion to take in connection with: A member bank that is deemed to be undercapitalized, significantly undercapitalized, or critically undercapitalized, or has been reclassified as undercapitalized, or significantly undercapitalized; an officer or director of such bank; or a company that controls such bank, the Board shall follow the procedures for issuing directives under 12 CFR 263.202 and 263.204, unless otherwise provided in section 38 or this subpart. Subpart E_Real Estate Lending, Appraisal Standards, and Minimum Requirements for Appraisal Management Companies Sec. 208.50 Authority, purpose, and scope. (a) Authority. Subpart E of Regulation H (12 CFR part 208, subpart E) is issued by the Board of Governors of the Federal Reserve System pursuant to section 304 of the Federal Deposit Insurance Corporation Improvement Act of 1991, (12 U.S.C 1828(o)), Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act, (12 U.S.C 3331- 3351), and section 1473 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, (12 U.S.C. 3353). (b) Purpose and scope. This subpart prescribes standards for real estate lending to be used by state member banks in adopting internal real estate lending policies. The standards applicable to appraisals rendered in connection with Federally related transactions entered into by member banks and the minimum requirements for appraisal management companies are set forth in 12 CFR part 225, subparts G and M respectively (Regulation Y). [80 FR 32681, June 9, 2015] Sec. 208.51 Real estate lending standards. (a) Adoption of written policies. Each state bank that is a member of the Federal Reserve System shall adopt and maintain written policies that establish appropriate limits and standards for extensions of credit that are secured by liens on or interests in real estate, or that are made for the purpose of financing permanent improvements to real estate. (b) Requirements of lending policies. (1) Real estate lending policies adopted pursuant to this section shall be: (i) Consistent with safe and sound banking practices; [[Page 227]] (ii) Appropriate to the size of the institution and the nature and scope of its operations; and (iii) Reviewed and approved by the bank's board of directors at least annually. (2) The lending policies shall establish: (i) Loan portfolio diversification standards; (ii) Prudent underwriting standards, including loan-to-value limits, that are clear and measurable; (iii) Loan administration procedures for the bank's real estate portfolio; and (iv) Documentation, approval, and reporting requirements to monitor compliance with the bank's real estate lending policies. (c) Monitoring conditions. Each member bank shall monitor conditions in the real estate market in its lending area to ensure that its real estate lending policies continue to be appropriate for current market conditions. (d) Interagency guidelines. The real estate lending policies adopted pursuant to this section should reflect consideration of the Interagency Guidelines for Real Estate Lending Policies (contained in appendix C of this part) established by the Federal bank and thrift supervisory agencies. Subpart F_Miscellaneous Requirements Source: 63 FR 37655, July 13, 1998, unless otherwise noted. Sec. 208.60 Authority, purpose, and scope. (a) Authority. Subpart F of Regulation H (12 CFR part 208, subpart F) is issued by the Board of Governors of the Federal Reserve System under sections 9, 11, 21, 25 and 25A of the Federal Reserve Act (12 U.S.C. 321-338a, 248(a), 248(c), 481-486, 601 and 611), section 7 of the International Banking Act (12 U.S.C. 3105), section 3 of the Bank Protection Act of 1968 (12 U.S.C. 1882), sections 1814, 1816, 1818, 1831o, 1831p-1 and 1831r-1 of the FDI Act (12 U.S.C. 1814, 1816, 1818, 1831o, 1831p-1 and 1831r-1), and the Bank Secrecy Act (31 U.S.C. 5318). (b) Purpose and scope. This subpart F describes a member bank's obligation to implement security procedures to discourage certain crimes, to file suspicious activity reports, and to comply with the Bank Secrecy Act's requirements for reporting and recordkeeping of currency and foreign transactions. It also describes the examination schedule for certain small insured member banks. Sec. 208.61 Bank security procedures. (a) Authority, purpose, and scope. Pursuant to section 3 of the Bank Protection Act of 1968 (12 U.S.C. 1882), member banks are required to adopt appropriate security procedures to discourage robberies, burglaries, and larcenies, and to assist in the identification and prosecution of persons who commit such acts. It is the responsibility of the member bank's board of directors to comply with the provisions of this section and ensure that a written security program for the bank's main office and branches is developed and implemented. (b) Designation of security officer. Upon becoming a member of the Federal Reserve System, a member bank's board of directors shall designate a security officer who shall have the authority, subject to the approval of the board of directors, to develop, within a reasonable time, but no later than 180 days, and to administer a written security program for each banking office. (c) Security program. (1) The security program shall: (i) Establish procedures for opening and closing for business and for the safekeeping of all currency, negotiable securities, and similar valuables at all times; (ii) Establish procedures that will assist in identifying persons committing crimes against the institution and that will preserve evidence that may aid in their identification and prosecution. Such procedures may include, but are not limited to: maintaining a camera that records activity in the banking office; using identification devices, such as prerecorded serial-numbered bills, or chemical and electronic devices; and retaining a record of any robbery, burglary, or larceny committed against the bank; (iii) Provide for initial and periodic training of officers and employees in [[Page 228]] their responsibilities under the security program and in proper employee conduct during and after a burglary, robbery, or larceny; and (iv) Provide for selecting, testing, operating, and maintaining appropriate security devices, as specified in paragraph (c)(2) of this section. (2) Security devices. Each member bank shall have, at a minimum, the following security devices: (i) A means of protecting cash and other liquid assets, such as a vault, safe, or other secure space; (ii) A lighting system for illuminating, during the hours of darkness, the area around the vault, if the vault is visible from outside the banking office; (iii) Tamper-resistant locks on exterior doors and exterior windows that may be opened; (iv) An alarm system or other appropriate device for promptly notifying the nearest responsible law enforcement officers of an attempted or perpetrated robbery or burglary; and (v) Such other devices as the security officer determines to be appropriate, taking into consideration: the incidence of crimes against financial institutions in the area; the amount of currency and other valuables exposed to robbery, burglary, or larceny; the distance of the banking office from the nearest responsible law enforcement officers; the cost of the security devices; other security measures in effect at the banking office; and the physical characteristics of the structure of the banking office and its surroundings. (d) Annual reports. The security officer for each member bank shall report at least annually to the bank's board of directors on the implementation, administration, and effectiveness of the security program. (e) Reserve Banks. Each Reserve Bank shall develop and maintain a written security program for its main office and branches subject to review and approval of the Board. Sec. 208.62 Suspicious activity reports. (a) Purpose. This section ensures that a member bank files a Suspicious Activity Report when it detects a known or suspected violation of Federal law, or a suspicious transaction related to a money laundering activity or a violation of the Bank Secrecy Act. This section applies to all member banks. (b) Definitions. For the purposes of this section: (1) FinCEN means the Financial Crimes Enforcement Network of the Department of the Treasury. (2) Institution-affiliated party means any institution-affiliated party as that term is defined in 12 U.S.C. 1786(r), or 1813(u) and 1818(b) (3), (4) or (5). (3) SAR means a Suspicious Activity Report on the form prescribed by the Board. (c) SARs required. A member bank shall file a SAR with the appropriate Federal law enforcement agencies and the Department of the Treasury in accordance with the form's instructions by sending a completed SAR to FinCEN in the following circumstances: (1) Insider abuse involving any amount. Whenever the member bank detects any known or suspected Federal criminal violation, or pattern of criminal violations, committed or attempted against the bank or involving a transaction or transactions conducted through the bank, where the bank believes that it was either an actual or potential victim of a criminal violation, or series of criminal violations, or that the bank was used to facilitate a criminal transaction, and the bank has a substantial basis for identifying one of its directors, officers, employees, agents or other institution-affiliated parties as having committed or aided in the commission of a criminal act regardless of the amount involved in the violation. (2) Violations aggregating $5,000 or more where a suspect can be identified. Whenever the member bank detects any known or suspected Federal criminal violation, or pattern of criminal violations, committed or attempted against the bank or involving a transaction or transactions conducted through the bank and involving or aggregating $5,000 or more in funds or other assets, where the bank believes that it was either an actual or potential victim of a criminal violation, or series of criminal violations, or that the bank was used to facilitate a criminal transaction, and the bank has a substantial [[Page 229]] basis for identifying a possible suspect or group of suspects. If it is determined prior to filing this report that the identified suspect or group of suspects has used an ``alias,'' then information regarding the true identity of the suspect or group of suspects, as well as alias identifiers, such as drivers' licenses or social security numbers, addresses and telephone numbers, must be reported. (3) Violations aggregating $25,000 or more regardless of a potential suspect. Whenever the member bank detects any known or suspected Federal criminal violation, or pattern of criminal violations, committed or attempted against the bank or involving a transaction or transactions conducted through the bank and involving or aggregating $25,000 or more in funds or other assets, where the bank believes that it was either an actual or potential victim of a criminal violation, or series of criminal violations, or that the bank was used to facilitate a criminal transaction, even though there is no substantial basis for identifying a possible suspect or group of suspects. (4) Transactions aggregating $5,000 or more that involve potential money laundering or violations of the Bank Secrecy Act. Any transaction (which for purposes of this paragraph (c)(4) means a deposit, withdrawal, transfer between accounts, exchange of currency, loan, extension of credit, purchase or sale of any stock, bond, certificate of deposit, or other monetary instrument or investment security, or any other payment, transfer, or delivery by, through, or to a financial institution, by whatever means effected) conducted or attempted by, at or through the member bank and involving or aggregating $5,000 or more in funds or other assets, if the bank knows, suspects, or has reason to suspect that: (i) The transaction involves funds derived from illegal activities or is intended or conducted in order to hide or disguise funds or assets derived from illegal activities (including, without limitation, the ownership, nature, source, location, or control of such funds or assets) as part of a plan to violate or evade any law or regulation or to avoid any transaction reporting requirement under federal law; (ii) The transaction is designed to evade any regulations promulgated under the Bank Secrecy Act; or (iii) The transaction has no business or apparent lawful purpose or is not the sort in which the particular customer would normally be expected to engage, and the bank knows of no reasonable explanation for the transaction after examining the available facts, including the background and possible purpose of the transaction. (d) Time for reporting. A member bank is required to file a SAR no later than 30 calendar days after the date of initial detection of facts that may constitute a basis for filing a SAR. If no suspect was identified on the date of detection of the incident requiring the filing, a member bank may delay filing a SAR for an additional 30 calendar days to identify a suspect. In no case shall reporting be delayed more than 60 calendar days after the date of initial detection of a reportable transaction. In situations involving violations requiring immediate attention, such as when a reportable violation is on-going, the financial institution shall immediately notify, by telephone, an appropriate law enforcement authority and the Board in addition to filing a timely SAR. (e) Reports to state and local authorities. Member banks are encouraged to file a copy of the SAR with state and local law enforcement agencies where appropriate. (f) Exceptions. (1) A member bank need not file a SAR for a robbery or burglary committed or attempted that is reported to appropriate law enforcement authorities. (2) A member bank need not file a SAR for lost, missing, counterfeit, or stolen securities if it files a report pursuant to the reporting requirements of 17 CFR 240.17f-1. (g) Retention of records. A member bank shall maintain a copy of any SAR filed and the original or business record equivalent of any supporting documentation for a period of five years from the date of the filing of the SAR. Supporting documentation shall be identified and maintained by the bank as such, and shall be deemed to have been filed with the SAR. A member bank must make all supporting [[Page 230]] documentation available to appropriate law enforcement agencies upon request. (h) Notification to board of directors. The management of a member bank shall promptly notify its board of directors, or a committee thereof, of any report filed pursuant to this section. (i) Compliance. Failure to file a SAR in accordance with this section and the instructions may subject the member bank, its directors, officers, employees, agents, or other institution affiliated parties to supervisory action. (j) Confidentiality of SARs. SARs are confidential. Any member bank subpoenaed or otherwise requested to disclose a SAR or the information contained in a SAR shall decline to produce the SAR or to provide any information that would disclose that a SAR has been prepared or filed citing this section, applicable law (e.g., 31 U.S.C. 5318(g)), or both, and notify the Board. (k) Safe harbor. The safe harbor provisions of 31 U.S.C. 5318(g), which exempts any member bank that makes a disclosure of any possible violation of law or regulation from liability under any law or regulation of the United States, or any constitution, law or regulation of any state or political subdivision, covers all reports of suspected or known criminal violations and suspicious activities to law enforcement and financial institution supervisory authorities, including supporting documentation, regardless of whether such reports are filed pursuant to this section or are filed on a voluntary basis. Sec. 208.63 Procedures for monitoring Bank Secrecy Act compliance. (a) Purpose. This section is issued to assure that all state member banks establish and maintain procedures reasonably designed to assure and monitor their compliance with the provisions of the Bank Secrecy Act (31 U.S.C. 5311, et seq.) and the implementing regulations promulgated thereunder by the Department of Treasury at 31 CFR part 103, requiring recordkeeping and reporting of currency transactions. (b) Establishment of BSA compliance program--(1) Program requirement. Each bank shall develop and provide for the continued administration of a program reasonably designed to ensure and monitor compliance with the recordkeeping and reporting requirements set forth in subchapter II of chapter 53 of title 31, United States Code, the Bank Secrecy Act, and the implementing regulations promulgated thereunder by the Department of the Treasury at 31 CFR part 103. The compliance program shall be reduced to writing, approved by the board of directors, and noted in the minutes. (2) Customer identification program. Each bank is subject to the requirements of 31 U.S.C. 5318(l) and the implementing regulation jointly promulgated by the Board and the Department of the Treasury at 31 CFR 103.121, which require a customer identification program to be implemented as part of the BSA compliance program required under this section. (c) Contents of compliance program. The compliance program shall, at a minimum: (1) Provide for a system of internal controls to assure ongoing compliance; (2) Provide for independent testing for compliance to be conducted by bank personnel or by an outside party; (3) Designate an individual or individuals responsible for coordinating and monitoring day-to-day compliance; and (4) Provide training for appropriate personnel. [63 FR 37655, July 13, 1998, as amended at 68 FR 25111, May 9, 2003] Sec. 208.64 Frequency of examination. (a) General. The Federal Reserve examines insured member banks pursuant to authority conferred by 12 U.S.C. 325 and the requirements of 12 U.S.C. 1820(d). The Federal Reserve is required to conduct a full- scope, on-site examination of every insured member bank at least once during each 12-month period. (b) 18-month rule for certain small institutions. The Federal Reserve may conduct a full-scope, on-site examination of an insured member bank at least once during each 18-month period, rather than each 12-month period as provided in paragraph (a) of this section, if the following conditions are satisfied: [[Page 231]] (1) The bank has total assets of less than $3 billion; (2) The bank is well capitalized as defined in subpart D of this part (Sec. 208.43); (3) At the most recent examination conducted by either the Federal Reserve or applicable State banking agency, the Federal Reserve-- (i) Assigned the bank a rating of 1 or 2 for management as part of the bank's rating under the Uniform Financial Institutions Rating System (commonly referred to as CAMELS); and (ii) Assigned the bank a composite CAMELS rating of 1 or 2 under the Uniform Financial Institutions Rating System; (4) The bank currently is not subject to a formal enforcement proceeding or order by the Federal Reserve or the FDIC; and (5) No person acquired control of the bank during the preceding 12- month period in which a full-scope examination would have been required but for this paragraph (b). (c) Authority to conduct more frequent examinations. This section does not limit the authority of the Federal Reserve to examine any member bank as frequently as the agency deems necessary. (d)(1) Except as provided in paragraph (c) of this section, from December 2, 2020, through December 31, 2021, for purposes of determining eligibility for the extended examination cycle described in paragraph (b) of this section, the total assets of a member bank shall be determined based on the lesser of: (i) The assets of the member bank as of December 31, 2019; and (ii) The assets of the member bank as of the end of the most recent calendar quarter. (2) Nothing in paragraph (d)(1) of this section limits the authority of the Federal Reserve to examine any member bank as frequently as the agency deems necessary pursuant to paragraph (c) of this section. [63 FR 37655, July 13, 1998, as amended at 72 FR 17802, Apr. 10, 2007; 81 FR 10069, Feb. 29, 2016; 83 FR 43965, Aug. 29, 2018; 85 FR 77360, Dec. 2, 2020] Subpart G_Financial Subsidiaries of State Member Banks Source: Reg. H, 66 FR 42933, Aug. 16, 2001, unless otherwise noted. Sec. 208.71 What are the requirements to invest in or control a financial subsidiary? (a) In general. A state member bank may control, or hold an interest in, a financial subsidiary only if: (1) The state member bank and each depository institution affiliate of the state member bank are well capitalized and well managed; (2) The aggregate consolidated total assets of all financial subsidiaries of the state member bank do not exceed the lesser of: (i) 45 percent of the consolidated total assets of the parent bank; or (ii) $50 billion, which dollar amount shall be adjusted according to an indexing mechanism jointly established by the Board and the Secretary of the Treasury; (3) The state member bank, if it is one of the largest 100 insured banks (based on consolidated total assets as of the end of the previous calendar year), meets the debt rating or alternative requirement of paragraph (b) of this section, if applicable; and (4) The Board or the appropriate Reserve Bank has approved the bank to acquire the interest in or control the financial subsidiary under Sec. 208.76. (b) Debt rating or alternative requirement for 100 largest insured banks--(1) General. A state member bank meets the debt rating or alternative requirement of this paragraph (b) if: (i) The bank has at least one issue of eligible debt outstanding that is currently rated in one of the three highest investment grade rating categories by a nationally recognized statistical rating organization; or (ii) If the bank is one of the second 50 largest insured banks (based on consolidated total assets as of the end of the previous calendar year), the bank has a current long-term issuer credit rating from at least one nationally recognized statistical rating organization that is within the three highest investment grade rating categories used by the organization. [[Page 232]] (2) Financial subsidiaries engaged in financial activities only as agent. This paragraph (b) does not apply to a state member bank if the financial subsidiaries of the bank engage in financial activities described in Sec. 208.72(a)(1) and (2) only in an agency capacity and not directly or indirectly as principal. Sec. 208.72 What activities may a financial subsidiary conduct? (a) Authorized activities. A financial subsidiary of a state member bank may engage in only the following activities: (1) Any financial activity listed in Sec. 225.86(a), (b), or (c) of the Board's Regulation Y (12 CFR 225.86(a), (b), or (c)); (2) Any activity that the Secretary of the Treasury, in consultation with the Board, has determined to be financial in nature or incidental to a financial activity and permissible for financial subsidiaries pursuant to Section 5136A(b) of the Revised Statutes of the United States (12 U.S.C. 24a(b)); and (3) Any activity that the state member bank is permitted to engage in directly (subject to the same terms and conditions that govern the conduct of the activity by the state member bank). (b) Impermissible activities. Notwithstanding paragraph (a) of this section, a financial subsidiary may not engage as principal in the following activities: (1) Insuring, guaranteeing, or indemnifying against loss, harm, damage, illness, disability or death (except to the extent permitted under applicable state law and section 302 or 303(c) of the Gramm-Leach- Bliley Act (15 U.S.C. 6712 or 6713(c)); (2) Providing or issuing annuities the income of which is subject to tax treatment under section 72 of the Internal Revenue Code of 1986 (26 U.S.C. 72); (3) Real estate development or real estate investment, unless otherwise expressly authorized by applicable state and Federal law; and (4) Any merchant banking or insurance company investment activity permitted for financial holding companies by section 4(k)(4)(H) or (I) of the Bank Holding Company Act (12 U.S.C. 1843(k)(4)(H) and (I)). Sec. 208.73 What additional provisions are applicable to state member banks with financial subsidiaries? (a) Capital deduction required prior to January 1, 2015, for state member banks that are not advanced approaches banks (as defined in Sec. 208.41). A state member bank that controls or holds an interest in a financial subsidiary must comply with the following rules in determining its compliance with applicable regulatory capital standards (including the well capitalized standard of Sec. 208.71(a)(1)): (1) The bank must not consolidate the assets and liabilities of any financial subsidiary with those of the bank. (2) For purposes of determining the bank's risk-based capital ratios under appendix A of this part, the bank must-- (i) Deduct 50 percent of the aggregate amount of its outstanding equity investment (including retained earnings) in all financial subsidiaries from both the bank's Tier 1 capital and Tier 2 capital; and (ii) Deduct the entire amount of the bank's outstanding equity investment (including retained earnings) in all financial subsidiaries from the bank's risk-weighted assets. (3) For purposes of determining the bank's leverage capital ratio under appendix B of this part, the bank must-- (i) Deduct 50 percent of the aggregate amount of its outstanding equity investment (including retained earnings) in all financial subsidiaries from the bank's Tier 1 capital; and (ii) Deduct the entire amount of the bank's outstanding equity investment (including retained earnings) in all financial subsidiaries from the bank's average total assets. (4) For purposes of determining the bank's ratio of tangible equity to total assets under Sec. 208.43(b)(5), the bank must deduct the entire amount of the bank's outstanding equity investment (including retained earnings) in all financial subsidiaries from the bank's tangible equity and total assets. (5) If the deduction from Tier 2 capital required by paragraph (a)(2)(i) of this section exceeds the bank's Tier 2 capital, any excess must be deducted from the bank's Tier 1 capital. [[Page 233]] (b) Capital requirements for advanced approaches banks (as defined in Sec. 208.41) and, after January 1, 2015, all state member banks. Beginning on January 1, 2014, for a state member bank that is an advanced approaches bank, and beginning on January 1, 2015 for all state member banks, a state member bank that controls or holds an interest in a financial subsidiary must comply with the rules set forth in Sec. 217.22(a)(7) of Regulation Q (12 CFR 217.22(a)(7)) in determining its compliance with applicable regulatory capital standards (including the well capitalized standard of Sec. 208.71(a)(1)). (c) Financial statement disclosure of capital deduction. Any published financial statement of a state member bank that controls or holds an interest in a financial subsidiary must, in addition to providing information prepared in accordance with generally accepted accounting principles, separately present financial information for the bank reflecting the capital deduction and adjustments required by paragraph (a) of this section. (d) Safeguards for the bank. A state member bank that establishes, controls or holds an interest in a financial subsidiary must: (1) Establish and maintain procedures for identifying and managing financial and operational risks within the state member bank and the financial subsidiary that adequately protect the state member bank from such risks; and (2) Establish and maintain reasonable policies and procedures to preserve the separate corporate identity and limited liability of the state member bank and the financial subsidiary. (e) Application of Sections 23A and 23B of the Federal Reserve Act. For purposes of sections 23A and 23B of the Federal Reserve Act (12 U.S.C. 371c, 371c-1): (1) A financial subsidiary of a state member bank shall be deemed an affiliate, and not a subsidiary, of the bank; (2) The restrictions contained in section 23A(a)(1)(A) of the Federal Reserve Act (12 U.S.C. 371c(a)(1)(A)) shall not apply with respect to covered transactions between the bank and any individual financial subsidiary of the bank; (3) The bank's investment in a financial subsidiary shall not include retained earnings of the financial subsidiary; (4) Any purchase of, or investment in, the securities of a financial subsidiary by an affiliate of the bank will be considered to be a purchase of, or investment in, such securities by the bank; and (5) Any extension of credit by an affiliate of the bank to a financial subsidiary of the bank will be considered to be an extension of credit by the bank to the financial subsidiary if the Board determines that such treatment is necessary or appropriate to prevent evasions of the Federal Reserve Act and the Gramm-Leach-Bliley Act. (f) Application of anti-tying prohibitions. A financial subsidiary of a state member bank shall be deemed a subsidiary of a bank holding company and not a subsidiary of the bank for purposes of the anti-tying prohibitions of section 106 of the Bank Holding Company Act Amendments of 1970 (12 U.S.C. 1971 et seq.). [Reg. H, 66 FR 42933, Aug. 16, 2001, as amended at 78 FR 62284, Oct. 11, 2013] Sec. 208.74 What happens if the state member bank or a depository institution affiliate fails to continue to meet certain requirements? (a) Qualifications and safeguards. The following procedures apply to a state member bank that controls or holds an interest in a financial subsidiary. (1) Notice by Board. If the Board finds that a state member bank or any of its depository institution affiliates fails to continue to be well capitalized and well managed, or the state member bank is not in compliance with the asset limitation set forth in Sec. 208.71(a)(2) or the safeguards set forth in Sec. 208.73(c), the Board will notify the state member bank in writing and identify the areas of noncompliance. The Board may provide this notice at any time before or after receiving notice from the state member bank under paragraph (a)(2) of this section. (2) Notification by state member bank. A state member bank must notify the appropriate Reserve Bank in writing within 15 calendar days of becoming aware that any depository institution affiliate of the bank has ceased to be well capitalized or well managed. The [[Page 234]] notification must identify the depository institution affiliate and the area(s) of noncompliance. (3) Execution of agreement. Within 45 days after receiving a notice from the Board under paragraph (a)(1) of this section, or such additional period of time as the Board may permit, the: (i) State member bank must execute an agreement acceptable to the Board to comply with all applicable capital, management, asset and safeguard requirements; and (ii) Any relevant depository institution affiliate of the state member bank must execute an agreement acceptable to its appropriate Federal banking agency to comply with all applicable capital and management requirements. (4) Agreement requirements. Any agreement required by paragraph (a)(3)(i) of this section must: (i) Explain the specific actions that the state member bank will take to correct all areas of noncompliance; (ii) Provide a schedule within which each action will be taken; and (iii) Provide any other information the Board may require. (5) Imposition of limits. Until the Board determines that the conditions described in the notice under paragraph (a)(1) of this section are corrected: (i) The Board may impose any limitations on the conduct or activities of the state member bank or any subsidiary of the bank as the Board determines to be appropriate under the circumstances and consistent with the purposes of section 121 of the Gramm-Leach-Bliley Act, including requiring the Board's prior approval for any financial subsidiary of the bank to acquire any company or engage in any additional activity; and (ii) The appropriate Federal banking agency for any relevant depository institution affiliate may impose any limitations on the conduct or activities of the depository institution or any subsidiary of that institution as the agency determines to be appropriate under the circumstances and consistent with the purposes of section 121 of the Gramm-Leach-Bliley Act. (6) Divestiture. The Board may require a state member bank to divest control of any financial subsidiary if the conditions described in a notice under paragraph (a)(1) of this section are not corrected within 180 days of receipt of the notice or such additional period of time as the Board may permit. Any divestiture must be completed in accordance with any terms and conditions established by the Board. (7) Consultation. The Board will consult with all relevant Federal and state regulatory authorities in taking any action under this paragraph (a). (b) Debt rating or alternative requirement. If a state member bank does not continue to meet any applicable debt rating or alternative requirement of Sec. 208.71(b), the bank may not, directly or through a subsidiary, purchase or acquire any additional equity capital of any financial subsidiary until the bank restores its compliance with the requirements of that section. For purposes of this paragraph (b), the term ``equity capital'' includes, in addition to any equity instrument, any debt instrument issued by the financial subsidiary if the debt instrument qualifies as capital of the subsidiary under any Federal or state law, regulation or interpretation applicable to the subsidiary. Sec. 208.75 What happens if the state member bank or any of its insured depository institution affiliates receives less than a ``satisfactory' ' CRA rating? (a) Limits on establishment of financial subsidiaries and expansion of existing financial subsidiaries. If a state member bank, or any insured depository institution affiliate of the bank, has received less than a ``satisfactory'' rating in meeting community credit needs in its most recent examination under the Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.): (1) The state member bank may not, directly or indirectly, acquire control of any financial subsidiary; and (2) Any financial subsidiary controlled by the state member bank may not commence any additional activity or acquire control, including all or substantially all of the assets, of any company. (b) Exception for certain activities. The prohibition in paragraph (a)(2) of this section does not apply to any activity, or to the acquisition of control of any [[Page 235]] company that is engaged only in activities, that the state member bank is permitted to conduct directly and that are conducted on the same terms and conditions that govern the conduct of the activity by the state member bank. (c) Duration of prohibitions. The prohibitions described in paragraph (a) of this section shall continue in effect until such time as the state member bank and each insured depository institution affiliate of the state member bank has achieved at least a ``satisfactory'' rating in meeting community credit needs in its most recent examination under the Community Reinvestment Act. Sec. 208.76 What Federal Reserve approvals are necessary for financial subsidiaries? (a) Notice requirements. (1) A state member bank may not acquire control of, or an interest in, a financial subsidiary unless it files a notice (in letter form, with enclosures) with the appropriate Reserve Bank. (2) A state member bank may not engage in any additional activity pursuant to Sec. 208.72(a)(1) or (2) through an existing financial subsidiary unless the state member bank files a notice (in letter form, with enclosures) with the appropriate Reserve Bank. (b) Contents of Notice. Any notice required by paragraph (a) of this section must: (1) In the case of a notice filed under paragraph (a)(1) of this section, describe the transaction(s) through which the bank proposes to acquire control of, or an interest in, the financial subsidiary; (2) Provide the name and head office address of the financial subsidiary; (3) Provide a description of the current and proposed activities of the financial subsidiary and the specific authority permitting each activity; (4) Provide the capital ratios as of the close of the previous calendar quarter for all relevant capital measures, as defined in section 38 of the Federal Deposit Insurance Act (12 U.S.C. 1831o), for the bank and each of its depository institution affiliates; (5) Certify that the bank and each of its depository institution affiliates was well capitalized at the close of the previous calendar quarter and is well capitalized as of the date the bank files its notice; (6) Certify that the bank and each of its depository institution affiliates is well managed as of the date the bank files its notice; (7) Certify that the bank meets the debt rating or alternative requirement of Sec. 208.71(b), if applicable; and (8) Certify that the bank and its financial subsidiaries are in compliance with the asset limit set forth in Sec. 208.71(a)(2) both before the proposal and on a pro forma basis. (c) Insurance activities. (1) If a notice filed under paragraph (a) of this section relates to the initial affiliation of the bank with a company engaged in insurance activities, the notice must describe the type of insurance activity that the company is engaged in or plans to conduct and identify each state where the company holds an insurance license and the state insurance regulatory authority that issued the license. (2) The appropriate Reserve Bank will send a copy of any notice described in paragraph (c)(1) of this section to the appropriate state insurance regulatory authorities and provide such authorities with an opportunity to comment on the proposal. (d) Approval procedures. A notice filed with the appropriate Reserve Bank under paragraph (a) of this section will be deemed approved on the fifteenth day after receipt of a complete notice by the appropriate Reserve Bank, unless prior to that date the Board or the appropriate Reserve Bank notifies the bank that the notice is approved, that the notice will require additional review, or that the bank does not meet the requirements of this subpart. Any notification of early approval of a notice must be in writing. Sec. 208.77 Definitions. The following definitions shall apply for purposes of this subpart: (a) Affiliate, Company, Control, and Subsidiary. The terms ``affiliate'', ``company'', ``control'', and ``subsidiary'' have the meanings given those terms in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841). [[Page 236]] (b) Appropriate Federal Banking Agency, Depository Institution, Insured Bank and Insured Depository Institution. The terms ``appropriate Federal banking agency'', ``depository institution'', ``insured bank'' and ``insured depository institution'' have the meanings given those terms in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (c) [Reserved] (d) Eligible Debt. The term ``eligible debt'' means unsecured debt with an initial maturity of more than 360 days that: (1) Is not supported by any form of credit enhancement, including a guarantee or standby letter of credit; and (2) Is not held in whole or in any significant part by any affiliate, officer, director, principal shareholder, or employee of the bank or any other person acting on behalf of or with funds from the bank or an affiliate of the bank. (e) Financial Subsidiary--(1) In general. The term ``financial subsidiary'' means any company that is controlled by one or more insured depository institutions other than: (i) A subsidiary that engages only in activities that the state member bank is permitted to engage in directly and that are conducted on the same terms and conditions that govern the conduct of the activities by the state member bank; or (ii) A subsidiary that the state member bank is specifically authorized by the express terms of a Federal statute (other than section 9 of the Federal Reserve Act (12 U.S.C. 335)), and not by implication or interpretation, to control, such as by section 25 or 25A of the Federal Reserve Act (12 U.S.C. 601-604a, 611-631) or the Bank Service Company Act (12 U.S.C. 1861 et seq.). (2) Subsidiaries of financial subsidiaries. A financial subsidiary includes any company that is directly or indirectly controlled by the financial subsidiary. (f) Long-term Issuer Credit Rating. The term ``long-term issuer credit rating'' means a written opinion issued by a nationally recognized statistical rating organization of the bank's overall capacity and willingness to pay on a timely basis its unsecured, dollar- denominated financial obligations maturing in not less than one year. (g) Well Capitalized--(1) Insured depository institutions. An insured depository institution is ``well capitalized'' if it has and maintains at least the capital levels required to be well capitalized under the capital adequacy regulations or guidelines adopted by the institution's appropriate Federal banking agency under section 38 of the Federal Deposit Insurance Act (12 U.S.C. 1831o). (2) Uninsured depository institutions. A depository institution the deposits of which are not insured by the Federal Deposit Insurance Corporation is ``well capitalized'' if the institution has and maintains at least the capital levels required for an insured depository institution to be well capitalized. (h) Well Managed--(1) In general. The term ``well managed'' means: (i) Unless otherwise determined in writing by the appropriate Federal banking agency, the institution has received a composite rating of 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under an equivalent rating system) and at least a rating of 2 for management (if such rating is given) in connection with its most recent examination or subsequent review by the institution's appropriate Federal banking agency (or the appropriate state banking agency in an examination described in section 10(d) of the Federal Deposit Insurance Act (12 U.S.C. 1820(d)); or (ii) In the case of any depository institution that has not been examined by its appropriate Federal banking agency or been subject to an examination by its appropriate state banking agency that meets the requirements of section 10(d) of the Federal Deposit Insurance Act (18 U.S.C. 1820(d)), the existence and use of managerial resources that the appropriate Federal banking agency determines are satisfactory. (2) Merged depository institutions--(i) Merger involving well managed institutions. A depository institution that results from the merger of two or more depository institutions that are well managed will be considered to be well managed unless the appropriate Federal banking agency for the resulting [[Page 237]] depository institution determines otherwise. (ii) Merger involving a poorly rated institution. A depository institution that results from the merger of a well managed depository institution with one or more depository institutions that are not well managed or that have not been examined shall be considered to be well managed if the appropriate Federal banking agency for the resulting depository institution determines that the institution is well managed. [Reg. H, 66 FR 42933, Aug. 16, 2001, as amended at 78 FR 62284, Oct. 11, 2013] Subpart H_Consumer Protection in Sales of Insurance Source: 65 FR 75841, Dec. 4, 2000, unless otherwise noted. Sec. 208.81 Purpose and scope. This subpart establishes consumer protections in connection with retail sales practices, solicitations, advertising, or offers of any insurance product or annuity to a consumer by: (a) Any state member bank; or (b) Any other person that is engaged in such activities at an office of the bank or on behalf of the bank. Sec. 208.82 Definitions for purposes of this subpart. As used in this subpart: (a) Affiliate means a company that controls, is controlled by, or is under common control with another company. (b) Bank means a state member bank. (c) Company means any corporation, partnership, business trust, association or similar organization, or any other trust (unless by its terms the trust must terminate within twenty-five years or not later than twenty-one years and ten months after the death of individuals living on the effective date of the trust). It does not include any corporation the majority of the shares of which are owned by the United States or by any State, or a qualified family partnership, as defined in section 2(o)(10) of the Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841(o)(10)). (d) Consumer means an individual who purchases, applies to purchase, or is solicited to purchase from you insurance products or annuities primarily for personal, family, or household purposes. (e) Control of a company has the same meaning as in section 3(w)(5) of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)(5)). (f) Domestic violence means the occurrence of one or more of the following acts by a current or former family member, household member, intimate partner, or caretaker: (1) Attempting to cause or causing or threatening another person physical harm, severe emotional distress, psychological trauma, rape, or sexual assault; (2) Engaging in a course of conduct or repeatedly committing acts toward another person, including following the person without proper authority, under circumstances that place the person in reasonable fear of bodily injury or physical harm; (3) Subjecting another person to false imprisonment; or (4) Attempting to cause or causing damage to property so as to intimidate or attempt to control the behavior of another person. (g) Electronic media includes any means for transmitting messages electronically between you and a consumer in a format that allows visual text to be displayed on equipment, for example, a personal computer monitor. (h) Office means the premises of a bank where retail deposits are accepted from the public. (i) Subsidiary has the same meaning as in section 3(w)(4) of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)(4)). (j)(1) You means: (i) A bank; or (ii) Any other person only when the person sells, solicits, advertises, or offers an insurance product or annuity to a consumer at an office of the bank or on behalf of a bank. (2) For purposes of this definition, activities on behalf of a bank include activities where a person, whether at an office of the bank or at another location sells, solicits, advertises, or offers [[Page 238]] an insurance product or annuity and at least one of the following applies: (i) The person represents to a consumer that the sale, solicitation, advertisement, or offer of any insurance product or annuity is by or on behalf of the bank; (ii) If the bank refers a consumer to a seller of insurance products or annuities and the bank has a contractual arrangement to receive commissions or fees derived from the sale of an insurance product or annuity resulting from that referral; or (iii) Documents evidencing the sale, solicitation, advertising, or offer of an insurance product or annuity identify or refer to the bank. Sec. 208.83 Prohibited practices. (a) Anticoercion and antitying rules. You may not engage in any practice that would lead a consumer to believe that an extension of credit, in violation of section 106(b) of the Bank Holding Company Act Amendments of 1970 (12 U.S.C. 1972), is conditional upon either: (1) The purchase of an insurance product or annuity from the bank or any of its affiliates; or (2) An agreement by the consumer not to obtain, or a prohibition on the consumer from obtaining, an insurance product or annuity from an unaffiliated entity. (b) Prohibition on misrepresentations generally. You may not engage in any practice or use any advertisement at any office of, or on behalf of, the bank or a subsidiary of the bank that could mislead any person or otherwise cause a reasonable person to reach an erroneous belief with respect to: (1) The fact that an insurance product or annuity sold or offered for sale by you or any subsidiary of the bank is not backed by the Federal government or the bank or the fact that the insurance product or annuity is not insured by the Federal Deposit Insurance Corporation; (2) In the case of an insurance product or annuity that involves investment risk, the fact that there is an investment risk, including the potential that principal may be lost and that the product may decline in value; or (3) In the case of a bank or subsidiary of the bank at which insurance products or annuities are sold or offered for sale, the fact that: (i) The approval of an extension of credit to a consumer by the bank or subsidiary may not be conditioned on the purchase of an insurance product or annuity by the consumer from the bank or a subsidiary of the bank; and (ii) The consumer is free to purchase the insurance product or annuity from another source. (c) Prohibition on domestic violence discrimination. You may not sell or offer for sale, as principal, agent, or broker, any life or health insurance product if the status of the applicant or insured as a victim of domestic violence or as a provider of services to victims of domestic violence is considered as a criterion in any decision with regard to insurance underwriting, pricing, renewal, or scope of coverage of such product, or with regard to the payment of insurance claims on such product, except as required or expressly permitted under State law. Sec. 208.84 What you must disclose. (a) Insurance disclosures. In connection with the initial purchase of an insurance product or annuity by a consumer from you, you must disclose to the consumer, except to the extent the disclosure would not be accurate, that: (1) The insurance product or annuity is not a deposit or other obligation of, or guaranteed by, the bank or an affiliate of the bank; (2) The insurance product or annuity is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States, the bank, or (if applicable) an affiliate of the bank; and (3) In the case of an insurance product or annuity that involves an investment risk, there is investment risk associated with the product, including the possible loss of value. (b) Credit disclosure. In the case of an application for credit in connection with which an insurance product or annuity is solicited, offered, or sold, you must disclose that the bank may not condition an extension of credit on either: (1) The consumer's purchase of an insurance product or annuity from the bank or any of its affiliates; or [[Page 239]] (2) The consumer's agreement not to obtain, or a prohibition on the consumer from obtaining, an insurance product or annuity from an unaffiliated entity. (c) Timing and method of disclosures--(1) In general. The disclosures required by paragraph (a) of this section must be provided orally and in writing before the completion of the initial sale of an insurance product or annuity to a consumer. The disclosure required by paragraph (b) of this section must be made orally and in writing at the time the consumer applies for an extension of credit in connection with which insurance is solicited, offered, or sold. (2) Exceptions for transactions by mail. If a sale of an insurance product or annuity is conducted by mail, you are not required to make the oral disclosures required by paragraph (a) of this section. If you take an application for credit by mail, you are not required to make the oral disclosure required by paragraph (b) of this section. (3) Exception for transactions by telephone. If a sale of an insurance product or annuity is conducted by telephone, you may provide the written disclosures required by paragraph (a) of this section by mail within 3 business days beginning on the first business day after the sale, excluding Sundays and the legal public holidays specified in 5 U.S.C 6103(a). If you take an application for such credit by telephone, you may provide the written disclosure required by paragraph (b) of this section by mail, provided you mail it to the consumer within three days beginning the first business day after the application is taken, excluding Sundays and the legal public holidays specified in 5 U.S.C. 6103(a). (4) Electronic form of disclosures. (i) Subject to the requirements of section 101(c) of the Electronic Signatures in Global and National Commerce Act (12 U.S.C. 7001(c)), you may provide the written disclosures required by paragraphs (a) and (b) of this section through electronic media instead of on paper, if the consumer affirmatively consents to receiving the disclosures electronically and if the disclosures are provided in a format that the consumer may retain or obtain later, for example, by printing or storing electronically (such as by downloading). (ii) Any disclosures required by paragraphs (a) or (b) of this section that are provided by electronic media are not required to be provided orally. (5) Disclosures must be readily understandable. The disclosures provided shall be conspicuous, simple, direct, readily understandable, and designed to call attention to the nature and significance of the information provided. For instance, you may use the following disclosures, in visual media, such as television broadcasting, ATM screens, billboards, signs, posters and written advertisements and promotional materials, as appropriate and consistent with paragraphs (a) and (b) of this section: NOT A DEPOSIT NOT FDIC-INSURED NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NOT GUARANTEED BY THE BANK MAY GO DOWN IN VALUE (6) Disclosures must be meaningful. (i) You must provide the disclosures required by paragraphs (a) and (b) of this section in a meaningful form. Examples of the types of methods that could call attention to the nature and significance of the information provided include: (A) A plain-language heading to call attention to the disclosures; (B) A typeface and type size that are easy to read; (C) Wide margins and ample line spacing; (D) Boldface or italics for key words; and (E) Distinctive type size, style, and graphic devices, such as shading or sidebars, when the disclosures are combined with other information. (ii) You have not provided the disclosures in a meaningful form if you merely state to the consumer that the required disclosures are available in printed material, but you do not provide the printed material when required and do not orally disclose the information to the consumer when required. (iii) With respect to those disclosures made through electronic media for which paper or oral disclosures are not [[Page 240]] required, the disclosures are not meaningfully provided if the consumer may bypass the visual text of the disclosures before purchasing an insurance product or annuity. (7) Consumer acknowledgment. You must obtain from the consumer, at the time a consumer receives the disclosures required under paragraphs (a) or (b) of this section, or at the time of the initial purchase by the consumer of an insurance product or annuity, a written acknowledgment by the consumer that the consumer received the disclosures. You may permit a consumer to acknowledge receipt of the disclosures electronically or in paper form. If the disclosures required under paragraphs (a) or (b) of this section are provided in connection with a transaction that is conducted by telephone, you must: (i) Obtain an oral acknowledgment of receipt of the disclosures and maintain sufficient documentation to show that the acknowledgment was given; and (ii) Make reasonable efforts to obtain a written acknowledgment from the consumer. (d) Advertisements and other promotional material for insurance products or annuities. The disclosures described in paragraph (a) of this section are required in advertisements and promotional material for insurance products or annuities unless the advertisements and promotional materials are of a general nature describing or listing the services or products offered by the bank. Sec. 208.85 Where insurance activities may take place. (a) General rule. A bank must, to the extent practicable, keep the area where the bank conducts transactions involving insurance products or annuities physically segregated from areas where retail deposits are routinely accepted from the general public, identify the areas where insurance product or annuity sales activities occur, and clearly delineate and distinguish those areas from the areas where the bank's retail deposit-taking activities occur. (b) Referrals. Any person who accepts deposits from the public in an area where such transactions are routinely conducted in the bank may refer a consumer who seeks to purchase an insurance product or annuity to a qualified person who sells that product only if the person making the referral receives no more than a one-time, nominal fee of a fixed dollar amount for each referral that does not depend on whether the referral results in a transaction. Sec. 208.86 Qualification and licensing requirements for insurance sales personnel. A bank may not permit any person to sell or offer for sale any insurance product or annuity in any part of its office or on its behalf, unless the person is at all times appropriately qualified and licensed under applicable State insurance licensing standards with regard to the specific products being sold or recommended. Sec. Appendix A to Subpart H of Part 208--Consumer Grievance Process Any consumer who believes that any bank or any other person selling, soliciting, advertising, or offering insurance products or annuities to the consumer at an office of the bank or on behalf of the bank has violated the requirements of this subpart should contact the Consumer Complaints Section, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System at the following address: 20th & C Streets, NW, Washington, D.C. 20551. Subpart I [Reserved] Subpart J_Interpretations Source: Reg. H, 63 FR 37658, July 13, 1998, unless otherwise noted. Redesignated at 65 FR 14814, Mar. 20, 2000. Redesignated further at 65 FR 75841, Dec. 4, 2000. Redesignated further at 75 FR 44688, July 28, 2010. Sec. 208.110 Sale of bank's money orders off premises as establishment of branch office. (a) The Board of Governors has been asked to consider whether the appointment by a member bank of an agent to sell the bank's money orders, at a location other than the premises of the bank, constitutes the establishment of a branch office. (b) Section 5155 of the Revised Statutes (12 U.S.C. 36), which is also applicable to member banks, defines the term branch as including ``any branch [[Page 241]] bank, branch office, branch agency, additional office, or any branch place of business * * * at which deposits are received, or checks paid, or money lent.'' The basic question is whether the sale of a bank's money orders by an agent amounts to the receipt of deposits at a branch place of business within the meaning of this statute. (c) Money orders are classified as deposits for certain purposes. However, they bear a strong resemblance to traveler's checks that are issued by banks and sold off premises. In both cases, the purchaser does not intend to establish a deposit account in the bank, although a liability on the bank's part is created. Even though they result in a deposit liability, the Board is of the opinion that the issuance of a bank's money orders by an authorized agent does not involve the receipt of deposits at a ``branch place of business'' and accordingly does not require the Board's permission to establish a branch. Sec. 208.111 Obligations concerning institutional customers. (a) As a result of broadened authority provided by the Government Securities Act Amendments of 1993 (15 U.S.C. 78o-3 and 78o-5), the Board is adopting sales practice rules for the government securities market, a market with a particularly broad institutional component. Accordingly, the Board believes it is appropriate to provide further guidance to banks on their suitability obligations when making recommendations to institutional customers. (b) The Board's Suitability Rule, Sec. 208.37(d), is fundamental to fair dealing and is intended to promote ethical sales practices and high standards of professional conduct. Banks' responsibilities include having a reasonable basis for recommending a particular security or strategy, as well as having reasonable grounds for believing the recommendation is suitable for the customer to whom it is made. Banks are expected to meet the same high standards of competence, professionalism, and good faith regardless of the financial circumstances of the customer. (c) In recommending to a customer the purchase, sale, or exchange of any government security, the bank shall have reasonable grounds for believing that the recommendation is suitable for the customer upon the basis of the facts, if any, disclosed by the customer as to the customer's other security holdings and financial situation and needs. (d) The interpretation in this section concerns only the manner in which a bank determines that a recommendation is suitable for a particular institutional customer. The manner in which a bank fulfills this suitability obligation will vary, depending on the nature of the customer and the specific transaction. Accordingly, the interpretation in this section deals only with guidance regarding how a bank may fulfill customer-specific suitability obligations under Sec. 208.37(d). \8\ --------------------------------------------------------------------------- \8\ The interpretation in this section does not address the obligation related to suitability that requires that a bank have''* * * a `reasonable basis' to believe that the recommendation could be suitable for at least some customers.'' In the Matter of the Application of F.J. Kaufman and Company of Virginia and Frederick J. Kaufman, Jr., 50 SEC 164 (1989). --------------------------------------------------------------------------- (e) While it is difficult to define in advance the scope of a bank's suitability obligation with respect to a specific institutional customer transaction recommended by a bank, the Board has identified certain factors that may be relevant when considering compliance with Sec. 208.37(d). These factors are not intended to be requirements or the only factors to be considered but are offered merely as guidance in determining the scope of a bank's suitability obligations. (f) The two most important considerations in determining the scope of a bank's suitability obligations in making recommendations to an institutional customer are the customer's capability to evaluate investment risk independently and the extent to which the customer is exercising independent judgement in evaluating a bank's recommendation. A bank must determine, based on the information available to it, the customer's capability to evaluate investment risk. In some cases, the bank may conclude that the customer is not capable of making independent investment decisions in general. In [[Page 242]] other cases, the institutional customer may have general capability, but may not be able to understand a particular type of instrument or its risk. This is more likely to arise with relatively new types of instruments, or those with significantly different risk or volatility characteristics than other investments generally made by the institution. If a customer is either generally not capable of evaluating investment risk or lacks sufficient capability to evaluate the particular product, the scope of a bank's customer-specific obligations under Sec. 208.37(d) would not be diminished by the fact that the bank was dealing with an institutional customer. On the other hand, the fact that a customer initially needed help understanding a potential investment need not necessarily imply that the customer did not ultimately develop an understanding and make an independent investment decision. (g) A bank may conclude that a customer is exercising independent judgement if the customer's investment decision will be based on its own independent assessment of the opportunities and risks presented by a potential investment, market factors and other investment considerations. Where the bank has reasonable grounds for concluding that the institutional customer is making independent investment decisions and is capable of independently evaluating investment risk, then a bank's obligations under Sec. 208.25(d) for a particular customer are fulfilled. \9\ Where a customer has delegated decision- making authority to an agent, such as an investment advisor or a bank trust department, the interpretation in this section shall be applied to the agent. --------------------------------------------------------------------------- \9\ See footnote 8 in paragraph (d) of this section. --------------------------------------------------------------------------- (h) A determination of capability to evaluate investment risk independently will depend on an examination of the customer's capability to make its own investment decisions, including the resources available to the customer to make informed decisions. Relevant considerations could include: (1) The use of one or more consultants, investment advisers, or bank trust departments; (2) The general level of experience of the institutional customer in financial markets and specific experience with the type of instruments under consideration; (3) The customer's ability to understand the economic features of the security involved; (4) The customer's ability to independently evaluate how market developments would affect the security; and (5) The complexity of the security or securities involved. (i) A determination that a customer is making independent investment decisions will depend on the nature of the relationship that exists between the bank and the customer. Relevant considerations could include: (1) Any written or oral understanding that exists between the bank and the customer regarding the nature of the relationship between the bank and the customer and the services to be rendered by the bank; (2) The presence or absence of a pattern of acceptance of the bank's recommendations; (3) The use by the customer of ideas, suggestions, market views and information obtained from other government securities brokers or dealers or market professionals, particularly those relating to the same type of securities; and (4) The extent to which the bank has received from the customer current comprehensive portfolio information in connection with discussing recommended transactions or has not been provided important information regarding its portfolio or investment objectives. (j) Banks are reminded that these factors are merely guidelines that will be utilized to determine whether a bank has fulfilled its suitability obligation with respect to a specific institutional customer transaction and that the inclusion or absence of any of these factors is not dispositive of the determination of suitability. Such a determination can only be made on a case-by-case basis taking into consideration all the facts and circumstances of a particular bank/ customer relationship, assessed in the context of a particular transaction. [[Page 243]] (k) For purposes of the interpretation in this section, an institutional customer shall be any entity other than a natural person. In determining the applicability of the interpretation in this section to an institutional customer, the Board will consider the dollar value of the securities that the institutional customer has in its portfolio and/or under management. While the interpretation in this section is potentially applicable to any institutional customer, the guidance contained in this section is more appropriately applied to an institutional customer with at least $10 million invested in securities in the aggregate in its portfolio and/or under management. [Reg. H, 63 FR 37658, July 13, 1998. Redesignated at 65 FR 14814, Mar. 20, 2000. Redesignated further at 65 FR 75841, Dec. 4, 2000. Redesignated further at 75 FR 44688, July 28, 2010; 75 FR 44692, July 28, 2010; 78 FR 62284, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015] Sec. 208.112 Policy statement on section 9(13) of the Federal Reserve Act. (a) Under section 9(13) of the Federal Reserve Act (12 U.S.C. 330), a state member bank may ``exercise all corporate powers granted it by the State in which it was created . . . except that the [Board] may limit the activities of State member banks and subsidiaries of State member banks in a manner consistent with section 24 of the Federal Deposit Insurance Act.'' The Board interprets this provision as vesting the Board with the authority to prohibit or otherwise restrict state member banks and their subsidiaries from engaging as principal in any activity (including acquiring or retaining any investment) that is not permissible for a national bank, unless the activity is permissible for state banks by federal statute or under part 362 of the Federal Deposit Insurance Corporation's (FDIC) regulations, 12 CFR part 362. The Board reminds state member banks of the fundamental canon of federal banking law that activities are permissible for a national bank only if authority is provided under federal law, including the National Bank Act. (b) The Board generally believes that the same bank activity, presenting the same risks, should be subject to the same regulatory framework, regardless of which agency supervises the bank. This principle of equal treatment helps to level the competitive playing field among banks with different charters and different federal supervisors and to mitigate the risks of regulatory arbitrage. (c) In alignment with this principle, the Board generally presumes that it will exercise its discretion under section 9(13) of the Federal Reserve Act (12 U.S.C. 330) to limit state member banks and their subsidiaries to engaging as principal in only those activities that are permissible for national banks--in each case, subject to the terms, conditions, and limitations placed on national banks with respect to the activity--unless those activities are permissible for state banks by federal statute or under 12 CFR part 362. For example, if the OCC conditions permissibility on a national bank demonstrating, to the satisfaction of its supervisory office, that the bank has controls in place to conduct the activity in a safe and sound manner, and receiving a written nonobjection from OCC supervisory staff before engaging in a particular activity, then the activity would not be permissible for a state member bank unless the bank makes the same demonstration and receives a written nonobjection from Federal Reserve supervisory staff before commencing such activity. (d) If a state member bank or its subsidiary proposes to engage in an activity as principal that is not permissible for a national bank or for an insured state member bank under federal statute or part 362 of this title, the state member bank or subsidiary may not engage in the activity unless the bank has received the prior permission of the Board under Sec. 208.3(d)(2). Under that provision, a state member bank may not, without the permission of the Board, change the general character of its business or the scope of the corporate powers it exercises at the time of its admission. In determining whether to grant permission to engage in an activity under Sec. 208.3(d)(2), the Board will rebuttably presume that a state member bank and its subsidiaries are prohibited from engaging as principal in any activity that is impermissible for national banks, unless the activity [[Page 244]] is permissible for state banks under federal statute or part 362 of this title. This presumption may be rebutted if there is a clear and compelling rationale for the Board to allow the proposed deviation in regulatory treatment among federally supervised banks, and the state member bank has robust plans for managing the risks of the proposed activity in accordance with principles of safe and sound banking. Depending on the applicant and the activity, an application to the FDIC may also be required under section 24 of the Federal Deposit Insurance Act (12 U.S.C. 1831a). (e) This statement does not impact the legal obligation of insured state member banks to seek approval from the FDIC when required under section 24 of the Federal Deposit Insurance Act and part 362 of this title. As established under those provisions, insured state banks may not engage as principal in any type of activity that is not permissible for a national bank unless--(1) the FDIC has determined that the activity would pose no significant risk to the Deposit Insurance Fund; and (2) the state bank is, and continues to be, in compliance with applicable capital standards. (f) The Board also reiterates to state member banks that legal permissibility is a necessary, but not sufficient, condition to establish that a state member bank may engage in a particular activity. Under Sec. 208.3(d)(1), a state member bank must at all times conduct its business and exercise its powers with due regard to safety and soundness. Under appendix D-1 of this part, at a minimum, a state member bank should have in place and implement internal controls and information systems that are appropriate for the nature, scope, and risks of its activities. Further, under Sec. 208.3(d)(3), a state member bank must comply at all times with this part and conditions of membership prescribed by the Board; in addition, a state member bank must comply with other applicable laws and regulations, including those related to consumer compliance and anti-money laundering. With respect to any novel and unprecedented activities, appropriate systems to monitor and control risks, including liquidity, credit, market, operational, and compliance risks, are particularly important; Federal Reserve supervisors will expect banks to be able to explain and demonstrate an effective control environment related to such activities. [Reg. H, 88 FR 7851, Feb. 7, 2023] Subpart K_Forms, Instructions and Reports Source: Reg. H, 84 FR 29051, June 21, 2019, unless otherwise noted. Sec. 208.120 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board under section 7 of the Federal Deposit Insurance Act, 12 U.S.C. 1817(a)(3) and (12), and section 9 of the Federal Reserve Act, 12 U.S.C. 324. (b) Purpose and scope. This subpart informs a state member bank where it may obtain forms and instructions for reports of conditions and implements 12 U.S.C. 1817(a)(12) to allow reduced reporting for a covered depository institution when such institution makes its reports of condition for the first and third calendar quarters of a year. Sec. 208.121 Definitions. Covered depository institution means a state member bank that meets all of the following criteria: (1) Has less than $5 billion in total consolidated assets as reported in its report of condition for the second calendar quarter of the preceding year, except that, during the calendar year 2021, a state member bank shall determine whether it meets the requirement in paragraph (1) of this section by using the lesser of its total consolidated assets as reported in its report of condition as of December 31, 2019, and its total consolidated assets as reported in its report of condition for the second calendar quarter of 2020. The relief provided under this paragraph (1) of this section does not apply to a state member bank if the Board determines that permitting the state member bank to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the state member bank. When making this [[Page 245]] determination, the Board will consider all relevant factors, including the extent of asset growth of the state member bank since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the state member bank has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the state member bank. In making a determination pursuant to this paragraph (1), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (2) Has no foreign offices, as defined in this section; (3) Is not required to or has not elected to use 12 CFR part 217, subpart E, to calculate its risk-based capital requirements; and (4) Is not a large institution or highly complex institution, as such terms are defined in 12 CFR 327.8, or treated as a large institution, as requested under 12 CFR 327.16(f). Foreign country refers to one or more foreign nations, and includes the overseas territories, dependencies, and insular possessions of those nations and of the United States. Foreign office means: (1) A branch or consolidated subsidiary in a foreign country, unless the branch is located on a U.S. military facility; (2) An international banking facility as such term is defined in 12 CFR 204.8; (3) A majority-owned Edge Act or Agreement subsidiary including both its U.S. and its foreign offices; and (4) For an institution chartered or headquartered in any U.S. state or the District of Columbia, a branch or consolidated subsidiary located in a U.S. territory or possession. Report of condition means the FFIEC 031, FFIEC 041, or FFIEC 051 versions of the Consolidated Report of Condition and Income (Call Report) or the FFIEC 002 (Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks), as applicable, and as they may be amended or superseded from time to time in accordance with the Paperwork Reduction Act of 1995, 44 U.S.C. chapter 35. Total consolidated assets means total assets as reported in a state member bank's report of condition. [Reg. H, 84 FR 29051, June 21, 2019, as amended at 85 FR 77360, Dec. 2, 2020] Sec. 208.122 Reporting. (a) A state member bank is required to file the report of condition (Call Report) in accordance with the instructions for these reports. All assets and liabilities, including contingent assets and liabilities, must be reported in, or otherwise taken into account in the preparation of, the Call Report. The Board uses Call Report data to monitor the condition, performance, and risk profile of individual state member banks and the banking industry. Reporting state member banks must also submit annually such information on small business and small farm lending as the Board may need to assess the availability of credit to these sectors of the economy. The report forms and instructions can be obtained from Federal Reserve District Banks or through the website of the Federal Financial Institutions Examination Council, http:// www.ffiec.gov/. (b) Every insured U.S. branch of a foreign bank is required to file the FFIEC 002 version of the report of condition (Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks) in accordance with the instructions for the report. All assets and liabilities, including contingent assets and liabilities, must be reported in, or otherwise taken into account in the preparation of the report. The Board uses the reported data to monitor the condition, performance, and risk profile of individual insured branches and the banking industry. Insured branches must also submit annually such information on small business and small farm lending as the Board may need to assess the availability of credit to these sectors of the economy. The report forms and instructions can be obtained from Federal Reserve District Banks or through the website of the Federal Financial Institutions Examination Council, http://www.ffiec.gov/. [[Page 246]] Sec. 208.123 Reduced reporting. A covered depository institution may file the FFIEC 051 version of the report of condition, or any successor thereto, which shall provide for reduced reporting for the reports of condition for the first and third calendar quarters for a year. Sec. 208.124 Reservation of authority. (a) Notwithstanding Sec. 208.123, the Board in consultation with the applicable state chartering authority may require an otherwise eligible covered depository institution to file the FFIEC 041 version of the report of condition, or any successor thereto, based on an institution-specific determination. In making this determination, the Board may consider criteria including, but not limited to, whether the institution is significantly engaged in one or more complex, specialized, or other higher risk activities, such as those for which limited information is reported in the FFIEC 051 version of the report of condition compared to the FFIEC 041 version of the report of condition. Nothing in this part shall be construed to limit the Board's authority to obtain information from a state member bank. (b) Nothing in this subpart limits the authority of the Board under any other provision of law or regulation to take supervisory or enforcement action, including action to address unsafe or unsound practices or conditions or violations of law. Sec. Appendixes A-B to Part 208 [Reserved] Sec. Appendix C to Part 208--Interagency Guidelines for Real Estate Lending Policies The agencies' regulations require that each insured depository institution adopt and maintain a written policy that establishes appropriate limits and standards for all extensions of credit that are secured by liens on or interests in real estate or made for the purpose of financing the construction of a building or other improvements. \1\ These guidelines are intended to assist institutions in the formulation and maintenance of a real estate lending policy that is appropriate to the size of the institution and the nature and scope of its individual operations, as well as satisfies the requirements of the regulation. --------------------------------------------------------------------------- \1\ The agencies have adopted a uniform rule on real estate lending. See 12 CFR part 365 (FDIC); 12 CFR part 208, subpart E (FRB); 12 CFR part 34, subpart D (OCC); and 12 CFR 563.100-101 (OTS). --------------------------------------------------------------------------- Each institution's policies must be comprehensive, and consistent with safe and sound lending practices, and must ensure that the institution operates within limits and according to standards that are reviewed and approved at least annually by the board of directors. Real estate lending is an integral part of many institutions' business plans and, when undertaken in a prudent manner, will not be subject to examiner criticism. Loan Portfolio Management Considerations The lending policy should contain a general outline of the scope and distribution of the institution's credit facilities and the manner in which real estate loans are made, serviced, and collected. In particular, the institution's policies on real estate lending should: Identify the geographic areas in which the institution will consider lending. Establish a loan portfolio diversification policy and set limits for real estate loans by type and geographic market (e.g., limits on higher risk loans). Identify appropriate terms and conditions by type of real estate loan. Establish loan origination and approval procedures, both generally and by size and type of loan. Establish prudent underwriting standards that are clear and measurable, including loan-to-value limits, that are consistent with these supervisory guidelines. Establish review and approval procedures for exception loans, including loans with loan-to-value percentages in excess of supervisory limits. Establish loan administration procedures, including documentation, disbursement, collateral inspection, collection, and loan review. Establish real estate appraisal and evaluation programs. Require that management monitor the loan portfolio and provide timely and adequate reports to the board of directors. The institution should consider both internal and external factors in the formulation of its loan policies and strategic plan. Factors that should be considered include: The size and financial condition of the institution. The expertise and size of the lending staff. The need to avoid undue concentrations of risk. [[Page 247]] Compliance with all real estate related laws and regulations, including the Community Reinvestment Act, anti- discrimination laws, and for savings associations, the Qualified Thrift Lender test. Market conditions. The institution should monitor conditions in the real estate markets in its lending area so that it can react quickly to changes in market conditions that are relevant to its lending decisions. Market supply and demand factors that should be considered include: Demographic indicators, including population and employment trends. Zoning requirements. Current and projected vacancy, construction, and absorption rates. Current and projected lease terms, rental rates, and sales prices, including concessions. Current and projected operating expenses for different types of projects. Economic indicators, including trends and diversification of the lending area. Valuation trends, including discount and direct capitalization rates. Underwriting Standards Prudently underwritten real estate loans should reflect all relevant credit factors, including: The capacity of the borrower, or income from the underlying property, to adequately service the debt. The value of the mortgaged property. The overall creditworthiness of the borrower. The level of equity invested in the property. Any secondary sources of repayment. Any additional collateral or credit enhancements (such as guarantees, mortgage insurance or takeout commitments). The lending policies should reflect the level of risk that is acceptable to the board of directors and provide clear and measurable underwriting standards that enable the institution's lending staff to evaluate these credit factors. The underwriting standards should address: The maximum loan amount by type of property. Maximum loan maturities by type of property. Amortization schedules. Pricing structure for different types of real estate loans. Loan-to-value limits by type of property. For development and construction projects, and completed commercial properties, the policy should also establish, commensurate with the size and type of the project or property: Requirements for feasibility studies and sensitivity and risk analyses (e.g., sensitivity of income projections to changes in economic variables such as interest rates, vacancy rates, or operating expenses). Minimum requirements for initial investment and maintenance of hard equity by the borrower (e.g., cash or unencumbered investment in the underlying property). Minimum standards for net worth, cash flow, and debt service coverage of the borrower or underlying property. Standards for the acceptability of and limits on non-amortizing loans. Standards for the acceptability of and limits on the use of interest reserves. Pre-leasing and pre-sale requirements for income- producing property. Pre-sale and minimum unit release requirements for non-income-producing property loans. Limits on partial recourse or nonrecourse loans and requirements for guarantor support. Requirements for takeout commitments. Minimum covenants for loan agreements. Loan Administration The institution should also establish loan administration procedures for its real estate portfolio that address: Documentation, including: Type and frequency of financial statements, including requirements for verification of information provided by the borrower; Type and frequency of collateral evaluations (appraisals and other estimates of value). Loan closing and disbursement. Payment processing. Escrow administration. Collateral administration. Loan payoffs. Collections and foreclosure, including: Delinquency follow-up procedures; Foreclosure timing; Extensions and other forms of forbearance; Acceptance of deeds in lieu of foreclosure. Claims processing (e.g., seeking recovery on a defaulted loan covered by a government guaranty or insurance program). Servicing and participation agreements. Supervisory Loan-to-Value Limits Institutions should establish their own internal loan-to-value limits for real estate loans. These internal limits should not exceed the following supervisory limits: [[Page 248]] ------------------------------------------------------------------------ Loan-to- value Loan category limit (percent) ------------------------------------------------------------------------ Raw land.................................................... 65 Land development............................................ 75 Construction: Commercial, multifamily, \1\ and other nonresidential... 80 1- to 4-family residential.............................. 85 Improved property........................................... 85 Owner-occupied 1- to 4-family and home equity............... (\2\) ------------------------------------------------------------------------ \1\ Multifamily construction includes condominiums and cooperatives. \2\ A loan-to-value limit has not been established for permanent mortgage or home equity loans on owner-occupied, 1- to 4-family residential property. However, for any such loan with a loan-to-value ratio that equals or exceeds 90 percent at origination, an institution should require appropriate credit enhancement in the form of either mortgage insurance or readily marketable collateral. The supervisory loan-to-value limits should be applied to the underlying property that collateralizes the loan. For loans that fund multiple phases of the same real estate project (e.g., a loan for both land development and construction of an office building), the appropriate loan-to-value limit is the limit applicable to the final phase of the project funded by the loan; however, loan disbursements should not exceed actual development or construction outlays. In situations where a loan is fully cross-collateralized by two or more properties or is secured by a collateral pool of two or more properties, the appropriate maximum loan amount under supervisory loan-to-value limits is the sum of the value of each property, less senior liens, multiplied by the appropriate loan-to-value limit for each property. To ensure that collateral margins remain within the supervisory limits, lenders should redetermine conformity whenever collateral substitutions are made to the collateral pool. In establishing internal loan-to-value limits, each lender is expected to carefully consider the institution-specific and market factors listed under ``Loan Portfolio Management Considerations,'' as well as any other relevant factors, such as the particular subcategory or type of loan. For any subcategory of loans that exhibits greater credit risk than the overall category, a lender should consider the establishment of an internal loan-to-value limit for that subcategory that is lower than the limit for the overall category. The loan-to-value ratio is only one of several pertinent credit factors to be considered when underwriting a real estate loan. Other credit factors to be taken into account are highlighted in the ``Underwriting Standards'' section above. Because of these other factors, the establishment of these supervisory limits should not be interpreted to mean that loans at these levels will automatically be considered sound. Loans in Excess of the Supervisory Loan-to-Value Limits The agencies recognize that appropriate loan-to-value limits vary not only among categories of real estate loans but also among individual loans. Therefore, it may be appropriate in individual cases to originate or purchase loans with loan-to-value ratios in excess of the supervisory loan-to-value limits, based on the support provided by other credit factors. Such loans should be identified in the institutions's records, and their aggregate amount reported at least quarterly to the institution's board of directors. (See additional reporting requirements described under ``Exceptions to the General Policy.'') The aggregate amount of all loans in excess of the supervisory loan- to-value limits should not exceed 100 percent of total capital. \2\ Moreover, within the aggregate limit, total loans for all commercial, agricultural, multifamily or other non-1-to-4 family residential properties should not exceed 30 percent of total capital. An institution will come under increased supervisory scrutiny as the total of such loans approaches these levels. --------------------------------------------------------------------------- \2\ For advanced approaches banks (as defined in 12 CFR 208.41) and, after January 1, 2015, for all state member banks, the term ``total capital'' refers to that term as defined in subpart A of 12 CFR part 217. For insured state nonmember banks and state savings associations, ``total capital'' refers to that term defined in subpart A of 12 CFR part 324. For national banks and Federal savings associations, the term ``total capital'' refers to that term as defined in subpart A of 12 CFR part 3. Prior to January 1, 2015, for state member banks that are not advanced approaches banks (as defined in 12 CFR 208.41), the term ``total capital'' means ``total risk-based capital'' as defined in appendix A to 12 CFR part 208. For insured state non-member banks, ``total capital'' refers to that term described in table I of appendix A to 12 CFR part 325. For national banks, the term ``total capital'' is defined at 12 CFR 3.2(e). For savings associations, the term ``total capital'' is defined at 12 CFR 567.5(c). --------------------------------------------------------------------------- In determining the aggregate amount of such loans, institutions should: (a) Include all loans secured by the same property if any one of those loans exceeds the supervisory loan-to-value limits; and (b) include the recourse obligation of any such loan sold with recourse. Conversely, a loan should no longer be reported to the directors as part of aggregate totals when reduction in principal or senior liens, or additional contribution of collateral or equity (e.g., improvements to the real property securing the loan), bring the loan-to-value ratio into compliance with supervisory limits. [[Page 249]] Excluded Transactions The agencies also recognize that there are a number of lending situations in which other factors significantly outweigh the need to apply the supervisory loan-to-value limits. These include: Loans guaranteed or insured by the U.S. government or its agencies, provided that the amount of the guaranty or insurance is at least equal to the portion of the loan that exceeds the supervisory loan-to-value limit. Loans backed by the full faith and credit of a state government, provided that the amount of the assurance is at least equal to the portion of the loan that exceeds the supervisory loan-to- value limit. Loans guaranteed or insured by a state, municipal or local government, or an agency thereof, provided that the amount of the guaranty or insurance is at least equal to the portion of the loan that exceeds the supervisory loan-to-value limit, and provided that the lender has determined that the guarantor or insurer has the financial capacity and willingness to perform under the terms of the guaranty or insurance agreement. Loans that are to be sold promptly after origination, without recourse, to a financially responsible third party. Loans that are renewed, refinanced, or restructured without the advancement of new funds or an increase in the line of credit (except for reasonable closing costs), or loans that are renewed, refinanced, or restructured in connection with a workout situation, either with or without the advancement of new funds, where consistent with safe and sound banking practices and part of a clearly defined and well-documented program to achieve orderly liquidation of the debt, reduce risk of loss, or maximize recovery on the loan. Loans that facilitate the sale of real estate acquired by the lender in the ordinary course of collecting a debt previously contracted in good faith. Loans for which a lien on or interest in real property is taken as additional collateral through an abundance of caution by the lender (e.g., the institution takes a blanket lien on all or substantially all of the assets of the borrower, and the value of the real property is low relative to the aggregate value of all other collateral). Loans, such as working capital loans, where the lender does not rely principally on real estate as security and the extension of credit is not used to acquire, develop, or construct permanent improvements on real property. Loans for the purpose of financing permanent improvements to real property, but not secured by the property, if such security interest is not required by prudent underwriting practice. Exceptions to the General Lending Policy Some provision should be made for the consideration of loan requests from creditworthy borrowers whose credit needs do not fit within the institution's general lending policy. An institution may provide for prudently underwritten exceptions to its lending policies, including loan-to-value limits, on a loan-by-loan basis. However, any exceptions from the supervisory loan-to-value limits should conform to the aggregate limits on such loans discussed above. The board of directors is responsible for establishing standards for the review and approval of exception loans. Each institution should establish an appropriate internal process for the review and approval of loans that do not conform to its own internal policy standards. The approval of any such loan should be supported by a written justification that clearly sets forth all of the relevant credit factors that support the underwriting decision. The justification and approval documents for such loans should be maintained as a part of the permanent loan file. Each institution should monitor compliance with its real estate lending policy and individually report exception loans of a significant size to its board of directors. Supervisory Review of Real Estate Lending Policies and Practices The real estate lending policies of institutions will be evaluated by examiners during the course of their examinations to determine if the policies are consistent with safe and sound lending practices, these guidelines, and the requirements of the regulation. In evaluating the adequacy of the institution's real estate lending policies and practices, examiners will take into consideration the following factors: The nature and scope of the institution's real estate lending activities. The size and financial condition of the institution. The quality of the institution's management and internal controls. The expertise and size of the lending and loan administration staff. Market conditions. Lending policy exception reports will also be reviewed by examiners during the course of their examinations to determine whether the institutions' exceptions are adequately documented and appropriate in light of all of the relevant credit considerations. An excessive volume of exceptions to an institution's real estate lending policy may signal a weakening of its underwriting practices, or may suggest a need to revise the loan policy. Definitions For the purposes of these Guidelines: [[Page 250]] Construction loan means an extension of credit for the purpose of erecting or rehabilitating buildings or other structures, including any infrastructure necessary for development. Extension of credit or loan means: (1) The total amount of any loan, line of credit, or other legally binding lending commitment with respect to real property; and (2) The total amount, based on the amount of consideration paid, of any loan, line of credit, or other legally binding lending commitment acquired by a lender by purchase, assignment, or otherwise. Improved property loan means an extension of credit secured by one of the following types of real property: (1) Farmland, ranchland or timberland committed to ongoing management and agricultural production; (2) 1- to 4-family residential property that is not owner-occupied; (3) Residential property containing five or more individual dwelling units; (4) Completed commercial property; or (5) Other income-producing property that has been completed and is available for occupancy and use, except income-producing owner-occupied 1- to 4-family residential property. Land development loan means an extension of credit for the purpose of improving unimproved real property prior to the erection of structures. The improvement of unimproved real property may include the laying or placement of sewers, water pipes, utility cables, streets, and other infrastructure necessary for future development. Loan origination means the time of inception of the obligation to extend credit (i.e., when the last event or prerequisite, controllable by the lender, occurs causing the lender to become legally bound to fund an extension of credit). Loan-to-value or loan-to-value ratio means the percentage or ratio that is derived at the time of loan origination by dividing an extension of credit by the total value of the property(ies) securing or being improved by the extension of credit plus the amount of any readily marketable collateral and other acceptable collateral that secures the extension of credit. The total amount of all senior liens on or interests in such property(ies) should be included in determining the loan-to-value ratio. When mortgage insurance or collateral is used in the calculation of the loan-to-value ratio, and such credit enhancement is later released or replaced, the loan-to-value ratio should be recalculated. Other acceptable collateral means any collateral in which the lender has a perfected security interest, that has a quantifiable value, and is accepted by the lender in accordance with safe and sound lending practices. Other acceptable collateral should be appropriately discounted by the lender consistent with the lender's usual practices for making loans secured by such collateral. Other acceptable collateral includes, among other items, unconditional irrevocable standby letters of credit for the benefit of the lender. Owner-occupied, when used in conjunction with the term 1- to 4- family residential property means that the owner of the underlying real property occupies at least one unit of the real property as a principal residence of the owner. Readily marketable collateral means insured deposits, financial instruments, and bullion in which the lender has a perfected interest. Financial instruments and bullion must be salable under ordinary circumstances with reasonable promptness at a fair market value determined by quotations based on actual transactions, on an auction or similarly available daily bid and ask price market. Readily marketable collateral should be appropriately discounted by the lender consistent with the lender's usual practices for making loans secured by such collateral. Value means an opinion or estimate, set forth in an appraisal or evaluation, whichever may be appropriate, of the market value of real property, prepared in accordance with the agency's appraisal regulations and guidance. For loans to purchase an existing property, the term ``value'' means the lesser of the actual acquisition cost or the estimate of value. 1- to 4-family residential property means property containing fewer than five individual dwelling units, including manufactured homes permanently affixed to the underlying property (when deemed to be real property under state law). [57 FR 62896, 62900, Dec. 31, 1992; 58 FR 4460, Jan. 14, 1993; 63 FR 58621, Nov. 2, 1998; 78 FR 62284, Oct. 11, 2013] Sec. Appendix D-1 to Part 208--Interagency Guidelines Establishing Standards for Safety and Soundness Table of Contents I. Introduction A. Preservation of existing authority. B. Definitions. II. Operational and Managerial Standards A. Internal controls and information systems. B. Internal audit system. C. Loan documentation. D. Credit underwriting. E. Interest rate exposure. F. Asset growth. G. Asset quality. H. Earnings. I. Compensation, fees and benefits. [[Page 251]] III. Prohibition on Compensation That Constitutes an Unsafe and Unsound Practice A. Excessive compensation. B. Compensation leading to material financial loss. I. Introduction i. Section 39 of the Federal Deposit Insurance Act \1\ (FDI Act) requires each Federal banking agency (collectively, the agencies) to establish certain safety and soundness standards by regulation or by guideline for all insured depository institutions. Under section 39, the agencies must establish three types of standards: (1) Operational and managerial standards; (2) compensation standards; and (3) such standards relating to asset quality, earnings, and stock valuation as they determine to be appropriate. --------------------------------------------------------------------------- \1\ Section 39 of the Federal Deposit Insurance Act (12 U.S.C. 1831p-1) was added by section 132 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), Pub. L. 102-242, 105 Stat. 2236 (1991), and amended by section 956 of the Housing and Community Development Act of 1992, Pub. L. 102-550, 106 Stat. 3895 (1992) and section 318 of the Riegle Community Development and Regulatory Improvement Act of 1994, Pub. L. 103-325, 108 Stat. 2160 (1994). --------------------------------------------------------------------------- ii. Section 39(a) requires the agencies to establish operational and managerial standards relating to: (1) Internal controls, information systems and internal audit systems, in accordance with section 36 of the FDI Act (12 U.S.C. 1831m); (2) loan documentation; (3) credit underwriting; (4) interest rate exposure; (5) asset growth; and (6) compensation, fees, and benefits, in accordance with subsection (c) of section 39. Section 39(b) requires the agencies to establish standards relating to asset quality, earnings, and stock valuation that the agencies determine to be appropriate. iii. Section 39(c) requires the agencies to establish standards prohibiting as an unsafe and unsound practice any compensatory arrangement that would provide any executive officer, employee, director, or principal shareholder of the institution with excessive compensation, fees or benefits and any compensatory arrangement that could lead to material financial loss to an institution. Section 39(c) also requires that the agencies establish standards that specify when compensation is excessive. iv. If an agency determines that an institution fails to meet any standard established by guideline under subsection (a) or (b) of section 39, the agency may require the institution to submit to the agency an acceptable plan to achieve compliance with the standard. In the event that an institution fails to submit an acceptable plan within the time allowed by the agency or fails in any material respect to implement an accepted plan, the agency must, by order, require the institution to correct the deficiency. The agency may, and in some cases must, take other supervisory actions until the deficiency has been corrected. v. The agencies have adopted amendments to their rules and regulations to establish deadlines for submission and review of compliance plans. \2\ --------------------------------------------------------------------------- \2\ For the Office of the Comptroller of the Currency, these regulations appear at 12 CFR Part 30; for the Board of Governors of the Federal Reserve System, these regulations appear at 12 CFR Part 263; for the Federal Deposit Insurance Corporation, these regulations appear at 12 CFR Part 308, subpart R, and for the Office of Thrift Supervision, these regulations appear at 12 CFR Part 570. --------------------------------------------------------------------------- vi. The following Guidelines set out the safety and soundness standards that the agencies use to identify and address problems at insured depository institutions before capital becomes impaired. The agencies believe that the standards adopted in these Guidelines serve this end without dictating how institutions must be managed and operated. These standards are designed to identify potential safety and soundness concerns and ensure that action is taken to address those concerns before they pose a risk to the deposit insurance funds. A. Preservation of Existing Authority Neither section 39 nor these Guidelines in any way limits the authority of the agencies to address unsafe or unsound practices, violations of law, unsafe or unsound conditions, or other practices. Action under section 39 and these Guidelines may be taken independently of, in conjunction with, or in addition to any other enforcement action available to the agencies. Nothing in these Guidelines limits the authority of the FDIC pursuant to section 38(i)(2)(F) of the FDI Act (12 U.S.C. 1831(o)) and Part 325 of title 12 of the Code of Federal Regulations. B. Definitions 1. In general. For purposes of these Guidelines, except as modified in the Guidelines or unless the context otherwise requires, the terms used have the same meanings as set forth in sections 3 and 39 of the FDI Act (12 U.S.C. 1813 and 1831p-1). 2. Board of directors, in the case of a state-licensed insured branch of a foreign bank and in the case of a federal branch of a foreign bank, means the managing official in charge of the insured foreign branch. 3. Compensation means all direct and indirect payments or benefits, both cash and non-cash, granted to or for the benefit of any executive officer, employee, director, or [[Page 252]] principal shareholder, including but not limited to payments or benefits derived from an employment contract, compensation or benefit agreement, fee arrangement, perquisite, stock option plan, postemployment benefit, or other compensatory arrangement. 4. Director shall have the meaning described in 12 CFR 215.2(c). \3\ --------------------------------------------------------------------------- \3\ In applying these definitions for savings associations, pursuant to 12 U.S.C. 1464, savings associations shall use the terms ``savings association'' and ``insured savings association'' in place of the terms ``member bank'' and ``insured bank''. --------------------------------------------------------------------------- 5. Executive officer shall have the meaning described in 12 CFR 215.2(d). \4\ --------------------------------------------------------------------------- \4\ See footnote 3 in section I.B.4. of this appendix. --------------------------------------------------------------------------- 6. Principal shareholder shall have the meaning described in 12 CFR 215.2(l). \5\ --------------------------------------------------------------------------- \5\ See footnote 3 in section I.B.4. of this appendix. --------------------------------------------------------------------------- II. Operational and Managerial Standards A. Internal controls and information systems. An institution should have internal controls and information systems that are appropriate to the size of the institution and the nature, scope and risk of its activities and that provide for: 1. An organizational structure that establishes clear lines of authority and responsibility for monitoring adherence to established policies; 2. Effective risk assessment; 3. Timely and accurate financial, operational and regulatory reports; 4. Adequate procedures to safeguard and manage assets; and 5. Compliance with applicable laws and regulations. B. Internal audit system. An institution should have an internal audit system that is appropriate to the size of the institution and the nature and scope of its activities and that provides for: 1. Adequate monitoring of the system of internal controls through an internal audit function. For an institution whose size, complexity or scope of operations does not warrant a full scale internal audit function, a system of independent reviews of key internal controls may be used; 2. Independence and objectivity; 3. Qualified persons; 4. Adequate testing and review of information systems; 5. Adequate documentation of tests and findings and any corrective actions; 6. Verification and review of management actions to address material weaknesses; and 7. Review by the institution's audit committee or board of directors of the effectiveness of the internal audit systems. C. Loan documentation. An institution should establish and maintain loan documentation practices that: 1. Enable the institution to make an informed lending decision and to assess risk, as necessary, on an ongoing basis; 2. Identify the purpose of a loan and the source of repayment, and assess the ability of the borrower to repay the indebtedness in a timely manner; 3. Ensure that any claim against a borrower is legally enforceable; 4. Demonstrate appropriate administration and monitoring of a loan; and 5. Take account of the size and complexity of a loan. D. Credit underwriting. An institution should establish and maintain prudent credit underwriting practices that: 1. Are commensurate with the types of loans the institution will make and consider the terms and conditions under which they will be made; 2. Consider the nature of the markets in which loans will be made; 3. Provide for consideration, prior to credit commitment, of the borrower's overall financial condition and resources, the financial responsibility of any guarantor, the nature and value of any underlying collateral, and the borrower's character and willingness to repay as agreed; 4. Establish a system of independent, ongoing credit review and appropriate communication to management and to the board of directors; 5. Take adequate account of concentration of credit risk; and 6. Are appropriate to the size of the institution and the nature and scope of its activities. E. Interest rate exposure. An institution should: 1. Manage interest rate risk in a manner that is appropriate to the size of the institution and the complexity of its assets and liabilities; and 2. Provide for periodic reporting to management and the board of directors regarding interest rate risk with adequate information for management and the board of directors to assess the level of risk. F. Asset growth. An institution's asset growth should be prudent and consider: 1. The source, volatility and use of the funds that support asset growth; 2. Any increase in credit risk or interest rate risk as a result of growth; and 3. The effect of growth on the institution's capital. G. Asset quality. An insured depository institution should establish and maintain a system that is commensurate with the institution's size and the nature and scope of its operations to identify problem assets and prevent deterioration in those assets. The institution should: [[Page 253]] 1. Conduct periodic asset quality reviews to identify problem assets; 2. Estimate the inherent losses in those assets and establish reserves that are sufficient to absorb estimated losses; 3. Compare problem asset totals to capital; 4. Take appropriate corrective action to resolve problem assets; 5. Consider the size and potential risks of material asset concentrations; and 6. Provide periodic asset reports with adequate information for management and the board of directors to assess the level of asset risk. H. Earnings. An insured depository institution should establish and maintain a system that is commensurate with the institution's size and the nature and scope of its operations to evaluate and monitor earnings and ensure that earnings are sufficient to maintain adequate capital and reserves. The institution should: 1. Compare recent earnings trends relative to equity, assets, or other commonly used benchmarks to the institution's historical results and those of its peers; 2. Evaluate the adequacy of earnings given the size, complexity, and risk profile of the institution's assets and operations; 3. Assess the source, volatility, and sustainability of earnings, including the effect of nonrecurring or extraordinary income or expense; 4. Take steps to ensure that earnings are sufficient to maintain adequate capital and reserves after considering the institution's asset quality and growth rate; and 5. Provide periodic earnings reports with adequate information for management and the board of directors to assess earnings performance. I. Compensation, fees and benefits. An institution should maintain safeguards to prevent the payment of compensation, fees, and benefits that are excessive or that could lead to material financial loss to the institution. III. Prohibition on Compensation That Constitutes an Unsafe and Unsound Practice A. Excessive Compensation Excessive compensation is prohibited as an unsafe and unsound practice. Compensation shall be considered excessive when amounts paid are unreasonable or disproportionate to the services performed by an executive officer, employee, director, or principal shareholder, considering the following: 1. The combined value of all cash and non-cash benefits provided to the individual; 2. The compensation history of the individual and other individuals with comparable expertise at the institution; 3. The financial condition of the institution; 4. Comparable compensation practices at comparable institutions, based upon such factors as asset size, geographic location, and the complexity of the loan portfolio or other assets; 5. For postemployment benefits, the projected total cost and benefit to the institution; 6. Any connection between the individual and any fraudulent act or omission, breach of trust or fiduciary duty, or insider abuse with regard to the institution; and 7. Any other factors the agencies determines to be relevant. B. Compensation Leading to Material Financial Loss Compensation that could lead to material financial loss to an institution is prohibited as an unsafe and unsound practice. [60 FR 35678, 35682, July 10, 1995, as amended by Reg. H, 61 FR 43951, Aug. 27, 1996] Sec. Appendix D-2 to Part 208--Interagency Guidelines Establishing Information Security Standards Table of Contents I. Introduction A. Scope B. Preservation of Existing Authority C. Definitions II. Standards for Safeguarding Customer Information A. Information Security Program B. Objectives III. Development and Implementation of Customer Information Security Program A. Involve the Board of Directors B. Assess Risk C. Manage and Control Risk D. Oversee Service Provider Arrangements E. Adjust the Program F. Report to the Board G. Implement the Standards I. Introduction These Interagency Guidelines Establishing Standards for Safeguarding Customer Information (Guidelines) set forth standards pursuant to sections 501 and 505 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801 and 6805), in the same manner, to the extent practicable, as standards prescribed pursuant to section 39 of the Federal Deposit Insurance Act (12 U.S.C. 1831p-1). These Guidelines address standards for developing and implementing administrative, technical, and physical safeguards to protect the security, confidentiality, and integrity of customer information. These Guidelines also address standards with respect to the proper disposal of consumer information, pursuant to sections 621 and 628 of the Fair Credit Reporting Act (15 U.S.C. 1681s and 1681w). [[Page 254]] A. Scope. The Guidelines apply to customer information maintained by or on behalf of state member banks (banks) and their nonbank subsidiaries, except for brokers, dealers, persons providing insurance, investment companies, and investment advisors. Pursuant to Sec. Sec. 211.9 and 211.24 of this chapter, these guidelines also apply to customer information maintained by or on behalf of Edge corporations, agreement corporations, and uninsured state-licensed branches or agencies of a foreign bank. These Guidelines also apply to the proper disposal of consumer information by or on behalf of such entities. B. Preservation of Existing Authority. Neither section 39 nor these Guidelines in any way limit the authority of the Board to address unsafe or unsound practices, violations of law, unsafe or unsound conditions, or other practices. The Board may take action under section 39 and these Guidelines independently of, in conjunction with, or in addition to, any other enforcement action available to the Board. C. Definitions. 1. Except as modified in the Guidelines, or unless the context otherwise requires, the terms used in these Guidelines have the same meanings as set forth in sections 3 and 39 of the Federal Deposit Insurance Act (12 U.S.C. 1813 and 1831p-1). 2. For purposes of the Guidelines, the following definitions apply: a. Board of directors, in the case of a branch or agency of a foreign bank, means the managing official in charge of the branch or agency. b. Consumer information means any record about an individual, whether in paper, electronic, or other form, that is a consumer report or is derived from a consumer report and that is maintained or otherwise possessed by or on behalf of the bank for a business purpose. Consumer information also means a compilation of such records. The term does not include any record that does not identify an individual. i. Examples. (1) Consumer information includes: (A) A consumer report that a bank obtains; (B) Information from a consumer report that the bank obtains from its affiliate after the consumer has been given a notice and has elected not to opt out of that sharing; (C) Information from a consumer report that the bank obtains about an individual who applies for but does not receive a loan, including any loan sought by an individual for a business purpose; (D) Information from a consumer report that the bank obtains about an individual who guarantees a loan (including a loan to a business entity); or (E) Information from a consumer report that the bank obtains about an employee or prospective employee. (2) Consumer information does not include: (A) Aggregate information, such as the mean credit score, derived from a group of consumer reports; or (B) Blind data, such as payment history on accounts that are not personally identifiable, that may be used for developing credit scoring models or for other purposes. c. Consumer report has the same meaning as set forth in the Fair Credit Reporting Act, 15 U.S.C. 1681a(d). d. Customer means any customer of the bank as defined in Sec. 1016.3(i) of this chapter. e. Customer information means any record containing nonpublic personal information, as defined in Sec. 1016.3(p) of this chapter, about a customer, whether in paper, electronic, or other form, that is maintained by or on behalf of the bank. f. Customer information systems means any methods used to access, collect, store, use, transmit, protect, or dispose of customer information. g. Service provider means any person or entity that maintains, processes, or otherwise is permitted access to customer information or consumer information through its provision of services directly to the bank. h. Subsidiary means any company controlled by a bank, except a broker, dealer, person providing insurance, investment company, investment advisor, insured depository institution, or subsidiary of an insured depository institution. II. Standards for Information Security A. Information Security Program. Each bank shall implement a comprehensive written information security program that includes administrative, technical, and physical safeguards appropriate to the size and complexity of the bank and the nature and scope of its activities. While all parts of the bank are not required to implement a uniform set of policies, all elements of the information security program must be coordinated. A bank also shall ensure that each of its subsidiaries is subject to a comprehensive information security program. The bank may fulfill this requirement either by including a subsidiary within the scope of the bank's comprehensive information security program or by causing the subsidiary to implement a separate comprehensive information security program in accordance with the standards and procedures in sections II and III of this appendix that apply to banks. B. Objectives. A bank's information security program shall be designed to: 1. Ensure the security and confidentiality of customer information; 2. Protect against any anticipated threats or hazards to the security or integrity of such information; 3. Protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer; and [[Page 255]] 4. Ensure the proper disposal of customer information and consumer information. III. Development and Implementation of Information Security Program A. Involve the Board of Directors. The board of directors or an appropriate committee of the board of each bank shall: 1. Approve the bank's written information security program; and 2. Oversee the development, implementation, and maintenance of the bank's information security program, including assigning specific responsibility for its implementation and reviewing reports from management. B. Assess Risk. Each bank shall: 1. Identify reasonably foreseeable internal and external threats that could result in unauthorized disclosure, misuse, alteration, or destruction of customer information or customer information systems. 2. Assess the likelihood and potential damage of these threats, taking into consideration the sensitivity of customer information. 3. Assess the sufficiency of policies, procedures, customer information systems, and other arrangements in place to control risks. C. Manage and Control Risk. Each bank shall: 1. Design its information security program to control the identified risks, commensurate with the sensitivity of the information as well as the complexity and scope of the bank's activities. Each bank must consider whether the following security measures are appropriate for the bank and, if so, adopt those measures the bank concludes are appropriate: a. Access controls on customer information systems, including controls to authenticate and permit access only to authorized individuals and controls to prevent employees from providing customer information to unauthorized individuals who may seek to obtain this information through fraudulent means. b. Access restrictions at physical locations containing customer information, such as buildings, computer facilities, and records storage facilities to permit access only to authorized individuals; c. Encryption of electronic customer information, including while in transit or in storage on networks or systems to which unauthorized individuals may have access; d. Procedures designed to ensure that customer information system modifications are consistent with the bank's information security program; e. Dual control procedures, segregation of duties, and employee background checks for employees with responsibilities for or access to customer information; f. Monitoring systems and procedures to detect actual and attempted attacks on or intrusions into customer information systems; g. Response programs that specify actions to be taken when the bank suspects or detects that unauthorized individuals have gained access to customer information systems, including appropriate reports to regulatory and law enforcement agencies; and h. Measures to protect against destruction, loss, or damage of customer information due to potential environmental hazards, such as fire and water damage or technological failures. 2. Train staff to implement the bank's information security program. 3. Regularly test the key controls, systems and procedures of the information security program. The frequency and nature of such tests should be determined by the bank's risk assessment. Tests should be conducted or reviewed by independent third parties or staff independent of those that develop or maintain the security programs. 4. Develop, implement, and maintain, as part of its information security program, appropriate measures to properly dispose of customer information and consumer information in accordance with each of the requirements in this paragraph III. D. Oversee Service Provider Arrangements. Each bank shall: 1. Exercise appropriate due diligence in selecting its service providers; 2. Require its service providers by contract to implement appropriate measures designed to meet the objectives of these Guidelines; and 3. Where indicated by the bank's risk assessment, monitor its service providers to confirm that they have satisfied their obligations as required by paragraph D.2. As part of this monitoring, a bank should review audits, summaries of test results, or other equivalent evaluations of its service providers. E. Adjust the Program. Each bank shall monitor, evaluate, and adjust, as appropriate, the information security program in light of any relevant changes in technology, the sensitivity of its customer information, internal or external threats to information, and the bank's own changing business arrangements, such as mergers and acquisitions, alliances and joint ventures, outsourcing arrangements, and changes to customer information systems. F. Report to the Board. Each bank shall report to its board or an appropriate committee of the board at least annually. This report should describe the overall status of the information security program and the bank's compliance with these Guidelines. The reports should discuss material matters related to its program, addressing issues such as: risk assessment; risk management and control decisions; service provider arrangements; results of testing; security [[Page 256]] breaches or violations and management's responses; and recommendations for changes in the information security program. G. Implement the Standards. 1. Effective date. Each bank must implement an information security program pursuant to these Guidelines by July 1, 2001. 2. Two-year grandfathering of agreements with service providers. Until July 1, 2003, a contract that a bank has entered into with a service provider to perform services for it or functions on its behalf satisfies the provisions of section III.D., even if the contract does not include a requirement that the servicer maintain the security and confidentiality of customer information, as long as the bank entered into the contract on or before March 5, 2001. 3. Effective date for measures relating to the disposal of consumer information. Each bank must satisfy these Guidelines with respect to the proper disposal of consumer information by July 1, 2005. 4. Exception for existing agreements with service providers relating to the disposal of consumer information. Notwithstanding the requirement in paragraph III.G.3., a bank's contracts with its service providers that have access to consumer information and that may dispose of consumer information, entered into before July 1, 2005, must comply with the provisions of the Guidelines relating to the proper disposal of consumer information by July 1, 2006. Supplement A to Appendix D-2 to Part 208--Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice I. Background This Guidance \1\ interprets section 501(b) of the Gramm-Leach- Bliley Act (``GLBA'') and the Interagency Guidelines Establishing Information Security Standards (the ``Security Guidelines'') \2\ and describes response programs, including customer notification procedures, that a financial institution should develop and implement to address unauthorized access to or use of customer information that could result in substantial harm or inconvenience to a customer. The scope of, and definitions of terms used in, this Guidance are identical to those of the Security Guidelines. For example, the term ``customer information'' is the same term used in the Security Guidelines, and means any record containing nonpublic personal information about a customer, whether in paper, electronic, or other form, maintained by or on behalf of the institution. --------------------------------------------------------------------------- \1\ This Guidance is being jointly issued by the Board of Governors of the Federal Reserve System (Board), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). \2\ 12 CFR part 30, app. B (OCC); 12 CFR part 208, app. D-2 and part 225, app. F (Board); 12 CFR part 364, app. B (FDIC); and 12 CFR part 570, app. B (OTS). The ``Interagency Guidelines Establishing Information Security Standards'' were formerly known as ``The Interagency Guidelines Establishing Standards for Safeguarding Customer Information.'' --------------------------------------------------------------------------- A. Interagency Security Guidelines Section 501(b) of the GLBA required the Agencies to establish appropriate standards for financial institutions subject to their jurisdiction that include administrative, technical, and physical safeguards, to protect the security and confidentiality of customer information. Accordingly, the Agencies issued Security Guidelines requiring every financial institution to have an information security program designed to: 1. Ensure the security and confidentiality of customer information; 2. Protect against any anticipated threats or hazards to the security or integrity of such information; and 3. Protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer. B. Risk Assessment and Controls 1. The Security Guidelines direct every financial institution to assess the following risks, among others, when developing its information security program: a. Reasonably foreseeable internal and external threats that could result in unauthorized disclosure, misuse, alteration, or destruction of customer information or customer information systems; b. The likelihood and potential damage of threats, taking into consideration the sensitivity of customer information; and c. The sufficiency of policies, procedures, customer information systems, and other arrangements in place to control risks. \3\ --------------------------------------------------------------------------- \3\ See Security Guidelines, III.B. --------------------------------------------------------------------------- 2. Following the assessment of these risks, the Security Guidelines require a financial institution to design a program to address the identified risks. The particular security measures an institution should adopt will depend upon the risks presented by the complexity and scope of its business. At a minimum, the financial institution is required to consider the specific security measures enumerated in the Security Guidelines, \4\ and adopt those that are appropriate for the institution, including: --------------------------------------------------------------------------- \4\ See Security Guidelines, III.C. --------------------------------------------------------------------------- [[Page 257]] a. Access controls on customer information systems, including controls to authenticate and permit access only to authorized individuals and controls to prevent employees from providing customer information to unauthorized individuals who may seek to obtain this information through fraudulent means; b. Background checks for employees with responsibilities for access to customer information; and c. Response programs that specify actions to be taken when the financial institution suspects or detects that unauthorized individuals have gained access to customer information systems, including appropriate reports to regulatory and law enforcement agencies. \5\ --------------------------------------------------------------------------- \5\ See Security Guidelines, III.C. --------------------------------------------------------------------------- C. Service Providers The Security Guidelines direct every financial institution to require its service providers by contract to implement appropriate measures designed to protect against unauthorized access to or use of customer information that could result in substantial harm or inconvenience to any customer. \6\ --------------------------------------------------------------------------- \6\ See Security Guidelines, II.B. and III.D. Further, the Agencies note that, in addition to contractual obligations to a financial institution, a service provider may be required to implement its own comprehensive information security program in accordance with the Safeguards Rule promulgated by the Federal Trade Commission (``FTC''), 16 CFR part 314. --------------------------------------------------------------------------- II. Response Program Millions of Americans, throughout the country, have been victims of identity theft. \7\ Identity thieves misuse personal information they obtain from a number of sources, including financial institutions, to perpetrate identity theft. Therefore, financial institutions should take preventative measures to safeguard customer information against attempts to gain unauthorized access to the information. For example, financial institutions should place access controls on customer information systems and conduct background checks for employees who are authorized to access customer information. \8\ However, every financial institution should also develop and implement a risk-based response program to address incidents of unauthorized access to customer information in customer information systems \9\ that occur nonetheless. A response program should be a key part of an institution's information security program. \10\ The program should be appropriate to the size and complexity of the institution and the nature and scope of its activities. --------------------------------------------------------------------------- \7\ The FTC estimates that nearly 10 million Americans discovered they were victims of some form of identity theft in 2002. See The Federal Trade Commission, Identity Theft Survey Report, (September 2003), available at http://www.ftc.gov/os/2003/09/synovatereport.pdf. \8\ Institutions should also conduct background checks of employees to ensure that the institution does not violate 12 U.S.C. 1829, which prohibits an institution from hiring an individual convicted of certain criminal offenses or who is subject to a prohibition order under 12 U.S.C. 1818(e)(6). \9\ Under the Guidelines, an institution's customer information systems consist of all of the methods used to access, collect, store, use, transmit, protect, or dispose of customer information, including the systems maintained by its service providers. See Security Guidelines, I.C.2.d (I.C.2.c for OTS). \10\ See FFIEC Information Technology Examination Handbook, Information Security Booklet, Dec. 2002 available at http:// www.ffiec.gov/ffiecinfobase/html_pages/infosec_book_frame.htm. Federal Reserve SR 97-32, Sound Practice Guidance for Information Security for Networks, Dec. 4, 1997; OCC Bulletin 2000-14, ``Infrastructure Threats-- Intrusion Risks'' (May 15, 2000), for additional guidance on preventing, detecting, and responding to intrusions into financial institution computer systems. --------------------------------------------------------------------------- In addition, each institution should be able to address incidents of unauthorized access to customer information in customer information systems maintained by its domestic and foreign service providers. Therefore, consistent with the obligations in the Guidelines that relate to these arrangements, and with existing guidance on this topic issued by the Agencies, \11\ an institution's contract with its service provider should require the service provider to take appropriate actions to address incidents of unauthorized access to the financial institution's customer information, including notification to the institution as soon as possible of any such incident, to enable the institution to expeditiously implement its response program. --------------------------------------------------------------------------- \11\ See Federal Reserve SR Ltr. 00-04, Outsourcing of Information and Transaction Processing, Feb. 9, 2000; OCC Bulletin 2001-47, ``Third- Party Relationships Risk Management Principles,'' Nov. 1, 2001; FDIC FIL 68-99, Risk Assessment Tools and Practices for Information System Security, July 7, 1999; OTS Thrift Bulletin 82a, Third Party Arrangements, Sept. 1, 2004. --------------------------------------------------------------------------- A. Components of a Response Program 1. At a minimum, an institution's response program should contain procedures for the following: [[Page 258]] a. Assessing the nature and scope of an incident, and identifying what customer information systems and types of customer information have been accessed or misused; b. Notifying its primary Federal regulator as soon as possible when the institution becomes aware of an incident involving unauthorized access to or use of sensitive customer information, as defined below; c. Consistent with the Agencies' Suspicious Activity Report (``SAR'') regulations, \12\ notifying appropriate law enforcement authorities, in addition to filing a timely SAR in situations involving Federal criminal violations requiring immediate attention, such as when a reportable violation is ongoing; --------------------------------------------------------------------------- \12\ An institution's obligation to file a SAR is set out in the Agencies' SAR regulations and Agency guidance. See 12 CFR 21.11 (national banks, Federal branches and agencies); 12 CFR 208.62 (State member banks); 12 CFR 211.5(k) (Edge and agreement corporations); 12 CFR 211.24(f) (uninsured State branches and agencies of foreign banks); 12 CFR 225.4(f) (bank holding companies and their nonbank subsidiaries); 12 CFR part 353 (State non-member banks); and 12 CFR 563.180 (savings associations). National banks must file SARs in connection with computer intrusions and other computer crimes. See OCC Bulletin 2000-14, ``Infrastructure Threats--Intrusion Risks'' (May 15, 2000); Advisory Letter 97-9, ``Reporting Computer Related Crimes'' (November 19, 1997) (general guidance still applicable though instructions for new SAR form published in 65 FR 1229, 1230 (January 7, 2000)). See also Federal Reserve SR 01-11, Identity Theft and Pretext Calling, Apr. 26, 2001; SR 97-28, Guidance Concerning Reporting of Computer Related Crimes by Financial Institutions, Nov. 6, 1997; FDIC FIL 48-2000, Suspicious Activity Reports, July 14, 2000; FIL 47-97, Preparation of Suspicious Activity Reports, May 6, 1997; OTS CEO Memorandum 139, Identity Theft and Pretext Calling, May 4, 2001; CEO Memorandum 126, New Suspicious Activity Report Form, July 5, 2000; http://www.ots.treas.gov/BSA (for the latest SAR form and filing instructions required by OTS as of July 1, 2003). --------------------------------------------------------------------------- d. Taking appropriate steps to contain and control the incident to prevent further unauthorized access to or use of customer information, for example, by monitoring, freezing, or closing affected accounts, while preserving records and other evidence;\13\ and --------------------------------------------------------------------------- \13\ See FFIEC Information Technology Examination Handbook, Information Security Booklet, Dec. 2002, pp. 68-74. --------------------------------------------------------------------------- e. Notifying customers when warranted. 2. Where an incident of unauthorized access to customer information involves customer information systems maintained by an institution's service providers, it is the responsibility of the financial institution to notify the institution's customers and regulator. However, an institution may authorize or contract with its service provider to notify the institution's customers or regulator on its behalf. III. Customer Notice Financial institutions have an affirmative duty to protect their customers' information against unauthorized access or use. Notifying customers of a security incident involving the unauthorized access or use of the customer's information in accordance with the standard set forth below is a key part of that duty. Timely notification of customers is important to manage an institution's reputation risk. Effective notice also may reduce an institution's legal risk, assist in maintaining good customer relations, and enable the institution's customers to take steps to protect themselves against the consequences of identity theft. When customer notification is warranted, an institution may not forgo notifying its customers of an incident because the institution believes that it may be potentially embarrassed or inconvenienced by doing so. A. Standard for Providing Notice When a financial institution becomes aware of an incident of unauthorized access to sensitive customer information, the institution should conduct a reasonable investigation to promptly determine the likelihood that the information has been or will be misused. If the institution determines that misuse of its information about a customer has occurred or is reasonably possible, it should notify the affected customer as soon as possible. Customer notice may be delayed if an appropriate law enforcement agency determines that notification will interfere with a criminal investigation and provides the institution with a written request for the delay. However, the institution should notify its customers as soon as notification will no longer interfere with the investigation. 1. Sensitive Customer Information Under the Guidelines, an institution must protect against unauthorized access to or use of customer information that could result in substantial harm or inconvenience to any customer. Substantial harm or inconvenience is most likely to result from improper access to sensitive customer information because this type of information is most likely to be misused, as in the commission of identity theft. For purposes of this Guidance, sensitive customer information means a customer's name, address, or telephone number, in conjunction with the customer's social security number, driver's license number, account number, credit or debit card number, [[Page 259]] or a personal identification number or password that would permit access to the customer's account. Sensitive customer information also includes any combination of components of customer information that would allow someone to log onto or access the customer's account, such as user name and password or password and account number. 2. Affected Customers If a financial institution, based upon its investigation, can determine from its logs or other data precisely which customers' information has been improperly accessed, it may limit notification to those customers with regard to whom the institution determines that misuse of their information has occurred or is reasonably possible. However, there may be situations where the institution determines that a group of files has been accessed improperly, but is unable to identify which specific customers' information has been accessed. If the circumstances of the unauthorized access lead the institution to determine that misuse of the information is reasonably possible, it should notify all customers in the group. B. Content of Customer Notice 1. Customer notice should be given in a clear and conspicuous manner. The notice should describe the incident in general terms and the type of customer information that was the subject of unauthorized access or use. It also should generally describe what the institution has done to protect the customers' information from further unauthorized access. In addition, it should include a telephone number that customers can call for further information and assistance. \14\ The notice also should remind customers of the need to remain vigilant over the next twelve to twenty-four months, and to promptly report incidents of suspected identity theft to the institution. The notice should include the following additional items, when appropriate: --------------------------------------------------------------------------- \14\ The institution should, therefore, ensure that it has reasonable policies and procedures in place, including trained personnel, to respond appropriately to customer inquiries and requests for assistance. --------------------------------------------------------------------------- a. A recommendation that the customer review account statements and immediately report any suspicious activity to the institution; b. A description of fraud alerts and an explanation of how the customer may place a fraud alert in the customer's consumer reports to put the customer's creditors on notice that the customer may be a victim of fraud; c. A recommendation that the customer periodically obtain credit reports from each nationwide credit reporting agency and have information relating to fraudulent transactions deleted; d. An explanation of how the customer may obtain a credit report free of charge; and e. Information about the availability of the FTC's online guidance regarding steps a consumer can take to protect against identity theft. The notice should encourage the customer to report any incidents of identity theft to the FTC, and should provide the FTC's Web site address and toll-free telephone number that customers may use to obtain the identity theft guidance and report suspected incidents of identity theft. \15\ --------------------------------------------------------------------------- \15\ Currently, the FTC Web site for the ID Theft brochure and the FTC Hotline phone number are http://www.consumer.gov/idtheft and 1-877- IDTHEFT. The institution may also refer customers to any materials developed pursuant to section 151(b) of the FACT Act (educational materials developed by the FTC to teach the public how to prevent identity theft). --------------------------------------------------------------------------- 2. The Agencies encourage financial institutions to notify the nationwide consumer reporting agencies prior to sending notices to a large number of customers that include contact information for the reporting agencies. C. Delivery of Customer Notice Customer notice should be delivered in any manner designed to ensure that a customer can reasonably be expected to receive it. For example, the institution may choose to contact all customers affected by telephone or by mail, or by electronic mail for those customers for whom it has a valid e-mail address and who have agreed to receive communications electronically. [Reg. H, 66 FR 8634, Feb. 1, 2001, as amended at 69 FR 77617, Dec. 28, 2004; 70 FR 15753, Mar. 29, 2005; 71 FR 5780, Feb. 3, 2006; 79 FR 37166, July 1, 2014] Sec. Appendixes E-F to Part 208 [Reserved] PART 209_FEDERAL RESERVE BANK CAPITAL STOCK (REGULATION I) --Table of Contents Sec. 209.1 Authority, purpose, scope, and definitions. 209.2 Banks desiring to become member banks. 209.3 Cancellation of Reserve Bank stock; mergers involving member banks. 209.4 Amounts and payments for subscriptions and cancellations; timing and rate of dividends. 209.5 The share register. [[Page 260]] Authority: 12 U.S.C. 12 U.S.C. 222, 248, 282, 286-288, 289, 321, 323, 327-328, and 466. Source: 63 FR 37663, July 13, 1998, unless otherwise noted. Sec. 209.1 Authority, purpose, scope, and definitions. (a) Authority. This part is issued pursuant to 12 U.S.C. 222, 248, 282, 286-288, 289, 321, 323, 327-328, and 466. (b) Purpose. The purpose of this part is to implement the provisions of the Federal Reserve Act relating to the issuance and cancellation of Federal Reserve Bank stock upon becoming or ceasing to be a member bank, or upon changes in the capital and surplus of a member bank, of the Federal Reserve System. This part also implements the provisions of the Federal Reserve Act relating to the payment of dividends to member banks. (c) Scope. This part applies to member banks of the Federal Reserve System, to national banks in process of organization, and to state banks applying for membership. National banks and locally-incorporated banks located in United States dependencies and possessions are eligible (with the consent of the Board) but not required to apply for membership under section 19(h) of the Federal Reserve Act, 12 U.S.C. 466.\1\ --------------------------------------------------------------------------- \1\ A bank located in the Virgin Islands or Puerto Rico should communicate with the Federal Reserve Bank of New York regarding applications for membership under the provisions of section 19(h) of the Federal Reserve Act. A bank located in Guam, American Samoa, or the Northern Mariana Islands should communicate with the Federal Reserve Bank of San Francisco regarding applications for membership under the provisions of section 19(h) of the Federal Reserve Act. --------------------------------------------------------------------------- (d) Definitions. For purposes of this part-- (1) Capital Stock and Surplus. Capital stock and surplus of a member bank means the paid-in capital stock \2\ and paid-in surplus of the bank, less any deficit in the aggregate of its retained earnings, gains (losses) on available for sale securities, and foreign currency translation accounts, all as shown on the bank's most recent report of condition. Paid-in capital stock and paid-in surplus of a bank in organization means the amount which is to be paid in at the time the bank commences business. --------------------------------------------------------------------------- \2\ Capital stock includes common stock and preferred stock (including sinking fund preferred stock). --------------------------------------------------------------------------- (2) Dividend proration basis means the use of a 360-day year of 12 30-day months for purposes of computing dividend payments. (3) Total consolidated assets means the total assets on the stockholder's balance sheet as reported by the stockholder on its Consolidated Report of Condition and Income (Call Report) as of the most recent December 31, except in the case of: (i) A new member ``total consolidated assets'' means (until the next December 31 Call Report becomes available) the total consolidated assets of the new member at the time of its application for capital stock; and (ii) A surviving stockholder after a merger ``total consolidated assets'' means (until the next December 31 Call Report becomes available) the total consolidated assets reported by that stockholder pursuant to Sec. 209.3(d)(5). [63 FR 37663, July 13, 1998, as amended by Reg. I, 81 FR 9087, Feb. 24, 2016; 87 FR 2030, Jan. 13, 2022] Sec. 209.2 Banks desiring to become member banks. (a) Application for stock or deposit. Each national bank in process of organization,\3\ each nonmember state bank converting into a national bank, and each nonmember state bank applying for membership in the Federal Reserve System under Regulation H, 12 CFR part 208, shall file with the Federal Reserve Bank (Reserve Bank) in whose district it is located an application for stock (or deposit in the case of mutual savings banks not authorized to purchase Reserve Bank stock \4\) in the Reserve Bank. This application for stock [[Page 261]] must state whether the applicant's total consolidated assets exceed $12,517,000,000. The bank shall pay for the stock (or deposit) in accordance with Sec. 209.4 of this part. --------------------------------------------------------------------------- \3\ A new national bank organized by the Federal Deposit Insurance Corporation under section 11(n) of the Federal Deposit Insurance Act (12 U.S.C. 1821(n)) should not apply until in the process of issuing stock pursuant to section 11(n)(15) of that act. Reserve Bank approval of such an application shall not be effective until the issuance of a certificate by the Comptroller of the Currency pursuant to section 11(n)(16) of that act. \4\ A mutual savings bank not authorized to purchase Federal Reserve Bank stock may apply for membership evidenced initially by a deposit. (See Sec. 208.3(a) of Regulation H, 12 CFR part 208.) The membership of the savings bank shall be terminated if the laws under which it is organized are not amended to authorize such purchase at the first session of the legislature after its admission, or if it fails to purchase such stock within six months after such an amendment. --------------------------------------------------------------------------- (b) Issuance of stock; acceptance of deposit. Upon authorization to commence business by the Comptroller of the Currency in the case of a national bank in organization or upon approval of conversion by the Comptroller of the Currency in the case of a state nonmember bank converting to a national bank, or when all applicable requirements have been complied with in the case of a state bank approved for membership, the Reserve Bank shall issue the appropriate number of shares by crediting the bank with the appropriate number of shares on its books. In the case of a national or state member bank in organization, such issuance shall be as of the date the bank opens for business. In the case of a mutual savings bank not authorized to purchase Reserve Bank shares, the Reserve Bank shall accept the deposit in place of issuing shares. The bank's membership shall become effective on the date of such issuance or acceptance. (c) Location of bank--(1) General rule. For purposes of this part, a national bank or a State bank is located in the Federal Reserve District that contains the location specified in the bank's charter or organizing certificate, or as specified by the institution's primary regulator, or if no such location is specified, the location of its head office, unless otherwise determined by the Board under paragraph (c)(2) of this section. (2) Board determination. If the location of a bank as specified in paragraph (c)(1) of this section, in the judgment of the Board of Governors of the Federal Reserve System (Board), is ambiguous, would impede the ability of the Board or the Reserve Banks to perform their functions under the Federal Reserve Act, or would impede the ability of the bank to operate efficiently, the Board will determine the Federal Reserve District in which the bank is located, after consultation with the bank and the relevant Reserve Banks. The relevant Reserve Banks are the Reserve Bank whose District contains the location specified in paragraph (c)(1) of this section and the Reserve Bank in whose District the bank is proposed to be located. In making this determination, the Board will consider any applicable laws, the business needs of the bank, the location of the bank's head office, the locations where the bank performs its business, and the locations that would allow the bank, the Board, and the Reserve Banks to perform their functions efficiently and effectively. [63 FR 37663, July 13, 1998, as amended at 74 FR 25639, May 29, 2009; Reg. I, 81 FR 9087, Feb. 24, 2016; 82 FR 11502, Feb. 24, 2017; 82 FR 52174, Nov. 13, 2017; 83 FR 58467, Nov. 20, 2018; 84 FR 68326, Dec. 16, 2019; 85 FR 79390, Dec. 10, 2020; 86 FR 69579, Dec. 8, 2021; 87 FR 73635, Dec. 1, 2022; 88 FR 83318, Nov. 29, 2023] Sec. 209.3 Cancellation of Reserve Bank stock; mergers involving member banks. (a) Application for cancellation. Any bank that desires to withdraw from membership in the Federal Reserve System (including a national bank that wants to convert into a nonmember bank), voluntarily liquidates or ceases business, is merged or consolidated into a nonmember bank, or is involuntarily liquidated by a receiver or conservator or otherwise, shall promptly file with its Reserve Bank an application for cancellation of all its Reserve Bank stock (or withdrawal of its deposit, as the case may be) and payment therefor in accordance with Sec. 209.4. (b) Involuntary termination of membership. If an application is not filed promptly after a cessation of business by a state member bank, a vote to place a member bank in voluntary liquidation, or the appointment of a receiver for (or a determination to liquidate the bank by a conservator of) a member bank, the Board may, after notice and an opportunity for hearing where required under Section 9(9) of the Federal Reserve Act (12 U.S.C. 327), order the membership of the bank terminated and all of its Reserve Bank stock canceled. [[Page 262]] (c) Effective date of cancellation. Cancellation in whole of a bank's Reserve Bank capital stock shall be effective, in the case of: (1) Voluntary withdrawal from membership by a state bank, as of the date of such withdrawal; (2) Merger into, consolidation with, or (for a national bank) conversion into, a nonmember bank, as of the effective date of the merger, consolidation, or conversion; and (3) Involuntary termination of membership, as of the date the Board issues the order of termination. (d) Exchange of stock on merger or change in location; stock adjustment upon merger with a nonmember bank; reporting of total consolidated assets following merger--(1) Applications. (i) Before a merger or consolidation of member banks, the nonsurviving member bank shall file an application with the appropriate Reserve Bank to cancel its shares of Reserve Bank stock (or in the case of a mutual savings bank not authorized to purchase Reserve Bank stock, shall file an application to transfer its deposit to the account of the surviving bank) and the surviving member bank shall file an application with the appropriate Reserve Bank for issue of a corresponding number of shares of Reserve Bank stock (or in the case of a mutual savings bank not authorized to purchase Reserve Bank stock, shall file an application to increase its deposit obligation). (ii) Before a merger or consolidation of a member bank and a nonmember bank, a surviving member bank shall file an application with the appropriate Reserve Bank to adjust its Reserve Bank capital stock subscription to equal six percent of the member bank's anticipated post- merger capital and surplus, or, in the case of member bank that is a mutual savings bank, six-tenths of 1 percent of the member bank's anticipated post-merger total deposit liabilities. A mutual savings bank not authorized to purchase Reserve Bank stock shall file an application to adjust its deposit obligation in a like manner. (2) Merger of member banks in the same Federal Reserve District. Upon a merger or consolidation of member banks located in the same Federal Reserve District, the Reserve Bank shall cancel the shares of the nonsurviving bank (or in the case of a mutual savings bank not authorized to purchase Reserve Bank stock, shall credit the deposit to the account of the surviving bank) and shall credit the appropriate number of shares on its books to (or in the case of a mutual savings bank not authorized to purchase Reserve Bank stock, shall accept an appropriate increase in the deposit of) the surviving bank, subject to paragraph (d)(3) of Sec. 209.4. (3) Change of location or merger of member banks in different Federal Reserve Districts. Upon a determination under paragraph (c)(2) of Sec. 209.2 that a member bank is located in a Federal Reserve District other than the District of the Reserve Bank of which it is a member, or upon a merger or consolidation of member banks located in different Federal Reserve Districts,-- (i) The Reserve Bank of the member bank's former District, or of the nonsurviving member bank, shall cancel the bank's shares and transfer the amount paid in for those shares, plus accrued dividends (as specified in paragraph (d)(1)(ii) of Sec. 209.4) and subject to paragraph (d)(3) of Sec. 209.4 (or, in the case of a mutual savings bank member not authorized to purchase Federal Reserve Bank stock, the amount of its deposit, adjusted in a like manner), to the Reserve Bank of the bank's new District or of the surviving bank; and (ii) The Reserve Bank of the member bank's new District or of the surviving bank shall issue the appropriate number of shares by crediting the bank with the appropriate number of shares on its books (or, in the case of a mutual savings bank, by accepting the deposit or an appropriate increase in the deposit). (4) Merger with a nonmember bank. Upon a merger or consolidation of a member bank and a nonmember bank, the Reserve Bank will adjust the surviving member bank's stock subscription to equal six percent of the member bank's capital and surplus, or, in the case of a member bank that is a mutual savings bank, six-tenths of 1 percent of the member bank's total deposit liabilities. If a mutual savings bank has a deposit with the appropriate Reserve Bank in lieu of Reserve [[Page 263]] Bank capital stock, its deposit obligation shall be adjusted in a like manner. (5) Statement of total consolidated assets. When a member bank merges or consolidates with another bank and the surviving bank remains a Reserve Bank stockholder, the surviving stockholder must report whether its total consolidated assets exceed $12,517,000,000 in the application described in paragraph (d)(1) of this section. (e) Voluntary withdrawal. Any bank withdrawing voluntarily from membership shall give 6 months written notice, and shall not cause the withdrawal of more than 25 percent of any Reserve Bank's capital stock in any calendar year, unless the Board waives these requirements. [63 FR 37663, July 13, 1998, as amended by Reg. I, 81 FR 9087, Feb. 24, 2016; 82 FR 11502, Feb. 24, 2017; 82 FR 52174, Nov. 13, 2017; 83 FR 58467, Nov. 20, 2018; 84 FR 68326, Dec. 16, 2019; 85 FR 79390, Dec. 10, 2020; 86 FR 69579, Dec. 8, 2021; 87 FR 2030, Jan. 13, 2022; 87 FR 73635, Dec. 1, 2022; 88 FR 83318, Nov. 29, 2023] Sec. 209.4 Amounts and payments for subscriptions and cancellations; timing and rate of dividends. (a) Amount of subscription. The total subscription of a member bank (other than a mutual savings bank) shall equal six percent of its capital and surplus as shown on its most recent Call Report. After a member bank files a Call Report, the appropriate Reserve Bank will adjust the member bank's Reserve Bank capital stock subscription to equal six percent of the member bank's capital and surplus. (b) Mutual savings banks. The total subscription of a member bank that is a mutual savings bank shall equal six-tenths of 1 percent of its total deposit liabilities as shown on its most recent Call Report. After a member bank that is a mutual savings bank files a Call Report, the appropriate Reserve Bank will adjust the member bank's Reserve Bank capital stock subscription to equal six-tenths of 1 percent of the member bank's total deposit liabilities. If a mutual savings bank has a deposit with the appropriate Reserve Bank in lieu of Reserve Bank capital stock, its deposit obligation shall be adjusted in a like manner. (c) Payment for subscriptions. (1) When a Reserve Bank issues capital stock to a member bank (or accepts a deposit in lieu thereof), the member bank shall pay the Reserve Bank-- (i) One-half of the subscription amount; and (ii) Accrued dividends equal to the paid-in subscription amount in paragraph (c)(1)(i) of this section multiplied by-- (A) In the case of a bank with total consolidated assets of more than $12,517,000,000, an annual rate equal to the lesser of the high yield of the 10-year Treasury note auctioned at the last auction held prior to the date of the last dividend payment and 6 percent, adjusted to reflect the period from the last dividend payment date to the subscription date according to the dividend proration basis. (B) In the case of a bank with total consolidated assets of $12,517,000,000 or less, 6 percent, adjusted to reflect the period from the last dividend payment date to the subscription date according to the dividend proration basis. (2) A Reserve Bank shall obtain settlement for the payment described in paragraph (c)(1) of this section by debit to an account on the Reserve Bank's books or other form of settlement to which the Reserve Bank agrees. (3) Upon payment (and in the case of a national banks in organization or state nonmember bank converting into a national bank, upon authorization or approval by the Comptroller of the Currency), the Reserve Bank shall issue the appropriate number of shares by crediting the bank with the appropriate number of shares on its books. In the case of a mutual savings bank not authorized to purchase Reserve Bank stock, the Reserve Bank will accept the deposit or addition to the deposit in place of issuing shares. The remaining half of the subscription or additional subscription (including subscriptions for deposits or additions to deposits) shall be subject to call by the Board. (4) If the dividend rate applied at the next scheduled dividend payment date is based on a different annual rate than the rate used to compute the amount [[Page 264]] of the accrued dividend payment pursuant to paragraph (c)(1)(ii) of this section, the amount of the dividends paid at the next scheduled dividend payment date should be adjusted accordingly. The amount of the adjustment should equal the difference between-- (i) The accrued dividend payment pursuant paragraph (c)(1)(ii) of this section, and (ii) The result of multiplying the subscription amount paid pursuant to paragraph (c)(1)(i) of this section by the dividend rate applied at the next scheduled dividend payment, adjusted to reflect the period from the last dividend payment date to the subscription date according to the dividend proration basis. (d) Payment for cancellations. (1) When a Reserve Bank cancels Reserve Bank capital stock of a member bank, or (in the case of involuntary termination of membership) upon the effective date of cancellation specified in Sec. 209.3(c)(3), the Reserve Bank shall-- (i) Reduce the bank's shareholding on the Reserve Bank's books by the number of shares required to be canceled and shall pay the paid-in subscription of the canceled stock; and (ii) Pay accrued dividends equal to the paid-in subscription of the canceled stock in paragraph (d)(1)(i) of this section multiplied by-- (A) In the case of a bank with total consolidated assets of more than $12,517,000,000, an annual rate equal to the lesser of the high yield of the 10-year Treasury note auctioned at the last auction held prior to the date of cancellation and 6 percent, adjusted to reflect the period from the last dividend payment date to the cancellation date according to the dividend proration basis; or (B) In the case of a bank with total consolidated assets of $12,517,000,000 or less, 6 percent, adjusted to reflect the period from the last dividend payment date to the cancellation date according to the dividend proration basis. (2) The sum of the payments under paragraph (d)(1) of this section cannot exceed the book value of the stock.\5\ --------------------------------------------------------------------------- \5\ Under sections 6 and 9(10) of the Act, a Reserve Bank is under no obligation to pay unearned accrued dividends on redemption of its capital stock from an insolvent member bank for which a receiver has been appointed or from state member banks on voluntary withdrawal from or involuntary termination of membership. --------------------------------------------------------------------------- (3) In the case of any cancellation of Reserve Bank stock under this Part, the Reserve Bank may first apply such sum to any liability of the bank to the Reserve Bank and pay over the remainder to the bank (or receiver or conservator, as appropriate). (e) Dividend. (1) After all necessary expenses of a Reserve Bank have been paid or provided for, the stockholders of a Reserve Bank shall be entitled to receive a dividend on paid-in capital stock of-- (i) in the case of a bank with total consolidated assets of more than $12,517,000,000, the lesser of the annual rate equal to the high yield of the 10-year Treasury note auctioned at the last auction held prior to the payment of such dividend and an annual rate of 6 percent, or (ii) in the case of a bank with total consolidated assets of $12,517,000,000 or less, an annual rate of 6 percent. (2) The dividend pursuant to paragraph (e)(1) of this section will be adjusted to reflect the period from the last dividend payment date to the current dividend payment date according to the dividend proration basis. (3) The entitlement to dividends under paragraph (e)(1) of this section shall be cumulative. (f) Annual adjustment to total consolidated assets. The dollar amounts for total consolidated assets specified in paragraphs (c), (d), and (e) of this section and Sec. Sec. 209.2 and 209.3 shall be adjusted annually to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis. [63 FR 37663, July 13, 1998, as amended by Reg. I, 81 FR 9088, Feb. 24, 2016; 82 FR 11502, Feb. 24, 2017; 82 FR 52174, Nov. 13, 2017; 83 FR 58467, Nov. 20, 2018; 84 FR 68326, Dec. 16, 2019; 85 FR 79390, Dec. 10, 2020; 86 FR 69579, Dec. 8, 2021; 87 FR 2030, Jan. 13, 2022; 87 FR 73635, Dec. 1, 2022; 88 FR 83318, Nov. 29, 2023] Sec. 209.5 The share register. (a) Electronic or written record. A member bank's holding of Reserve Bank capital stock shall be represented by one (or at the option of the Reserve [[Page 265]] Bank, more than one) notation on the Reserve Bank's books. Such books may be electronic or in writing. Upon any issue or cancellation of Reserve Bank capital stock, the Reserve Bank shall record the member bank's new share position in its books (or eliminate the bank's share position from its books, as the case may be). (b) Certification. A Reserve Bank may certify on request as to the number of shares held by a member bank and purchased before March 28, 1942, or as to the purchase and cancellation dates and prices of shares cancelled, as the case may be. PART 210_COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS AND FUNDS TRANSFERS THROUGH THE FEDWIRE FUNDS SERVICE AND THE FEDNOW SERVICE (REGULATION J)--Table of Contents Subpart A_Collection of Checks and Other Items By Federal Reserve Banks Sec. 210.1 Authority, purpose, and scope. 210.2 Definitions. 210.3 General provisions. 210.4 Sending items to Reserve Banks. 210.5 Sender's agreement; recovery by Reserve Bank. 210.6 Status, warranties, and liability of Reserve Bank. 210.7 Presenting items for payment. 210.8 Presenting noncash items for acceptance. 210.9 Settlement and payment. 210.10 Time schedule and availability of credits for cash items and returned checks. 210.11 Availability of proceeds of noncash items; time schedule 210.12 Return of cash items and handling of returned checks. 210.13 Unpaid items. 210.14 Extension of time limits. 210.15 Direct presentment of certain warrants. Subpart B_Funds Transfers Through the Fedwire Funds Service 210.25 Authority, purpose, and scope. 210.26 Definitions. 210.27 Reliance on identifying number. 210.28 Agreement of sender. 210.29 Agreement of receiving bank. 210.30 Payment orders. 210.31 Payment by a Federal Reserve Bank to a receiving bank or beneficiary. 210.32 Federal Reserve Bank liability; payment of compensation. Appendix A to Subpart B of Part 210--Commentary Subpart C_Funds Transfers Through the FedNow Service 210.40 Authority, purpose, and scope. 210.41 Definitions. 210.42 Reliance on identifying number. 210.43 Agreement of sender. 210.44 Agreement of receiving bank. 210.45 Payment orders. 210.46 Payment by a Federal Reserve Bank to a receiving bank or beneficiary. 210.47 Federal Reserve Bank liability; payment of compensation. Appendix A to Subpart C of Part 210--Commentary Appendix A to Part 210--Article 4A, Funds Transfers Authority: 12 U.S.C. 248(i), (j), and 248-1, 342, 360, 464, 4001- 4010, and 5001-5018. Source: 45 FR 68634, Oct. 16, 1980, unless otherwise noted. Subpart A_Collection of Checks and Other Items By Federal Reserve Banks Sec. 210.1 Authority, purpose, and scope. The Board of Governors of the Federal Reserve System (Board) has issued this subpart pursuant to the Federal Reserve Act, sections 11 (i) and (j) (12 U.S.C. 248 (i) and (j)), section 13 (12 U.S.C. 342), section 16 (12 U.S.C. 248(o) and 360), and section 19(f) (12 U.S.C. 464); the Expedited Funds Availability Act (12 U.S.C. 4001 et seq.); the Check Clearing for the 21st Century Act (12 U.S.C. 5001-5018) and other laws. This subpart governs the collection of checks and other cash and noncash items and the handling of returned checks by Federal Reserve Banks. Its purpose is to provide rules for collecting and returning items and settling balances. [53 FR 21984, June 13, 1988, as amended at Reg. J, 59 FR 22965, May 4, 1994; Reg. J, 69 FR 62557, Oct. 27, 2004] Sec. 210.2 Definitions. As used in this subpart, unless the context otherwise requires: [[Page 266]] Account means an account on the books of a Federal Reserve Bank. A subaccount is an informational record of a subset of transactions that affect an account and is not a separate account. Actually and finally collected funds means cash or any other form of payment that is, or has become, final and irrevocable. Administrative Reserve Bank with respect to an entity means the Reserve Bank in whose District the entity is located, as determined under the procedure described in Sec. 204.3(g) of this chapter (Regulation D), even if the entity is not otherwise subject to that section. Bank means any person engaged in the business of banking. A branch or separate office of a bank is a separate bank to the extent provided in the Uniform Commercial Code. Bank draft means a check drawn by one bank on another bank. Banking day means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. Cash item means-- (1) A check other than one classified as a noncash item under this section; or (2) Any other item payable on demand and collectible at par that the Reserve Bank that receives the item is willing to accept as a cash item. Cash item does not include a returned check. Check means a check or an electronic check, as those terms are defined in Sec. 229.2 of this chapter (Regulation CC). Clock hour and clock half-hour. (1) Clock hour means a time that is on the hour, such as 1:00, 2:00, etc. (2) Clock half-hour means a time that is on the half-hour, such as 1:30, 2:30, etc. Fedwire Funds Service and Fedwire have the same meaning as that set forth in Sec. 210.26. Item. (1) Means-- (i) An instrument or a promise or order to pay money, whether negotiable or not, that is-- (A) Payable in a Federal Reserve District \1\ (District); --------------------------------------------------------------------------- \1\ For purposes of this subpart, the Virgin Islands and Puerto Rico are deemed to be in the Second District, and Guam, American Samoa, and the Northern Mariana Islands in the Twelfth District. --------------------------------------------------------------------------- (B) Sent by a sender to a Reserve Bank for handling under this subpart; and (C) Collectible in funds acceptable to the Reserve Bank of the District in which the instrument is payable; or (ii) A check. (2) Unless otherwise indicated, item includes both a cash and a noncash item, and includes a returned check sent by a paying or returning bank. Item does not include a check that cannot be collected at par, or a payment order as defined in Sec. 210.26(i) and handled under subpart B of this part. The term also does not include an electronically-created item as defined in Sec. 229.2 of this chapter (Regulation CC). Nonbank payor means a payor of an item, other than a bank. Noncash item means an item that a receiving Reserve Bank classifies in its operating circulars as requiring special handling. The term also means an item normally received as a cash item if a Reserve Bank decides that special conditions require that it handle the item as a noncash item. Paying bank means-- (1) The bank by which an item is payable unless the item is payable or collectible at or through another bank and is sent to the other bank for payment or collection; (2) The bank at or through which an item is payable or collectible and to which it sent for payment or collection; or (3) The bank whose routing number appears on a check in the MICR line or in fractional form (or in the MICR-line information that accompanies an electronic item) and to which the check is sent for payment or collection. Returned check means a cash item returned by a paying bank, including an electronic returned check as defined in Sec. 229.2 of this chapter (Regulation CC) and a notice of nonpayment in lieu of a returned check, whether or not a Reserve Bank handled the check for collection. Sender means any of the following entities that sends an item to a Reserve Bank for forward collection-- [[Page 267]] (1) A depository institution, as defined in section 19(b) of the Federal Reserve Act (12 U.S.C. 461(b)); (2) A member bank, as defined in section 1 of the Federal Reserve Act (12 U.S.C. 221); (3) A clearing institution, defined as-- (i) An institution that is not a depository institution but that maintains with a Reserve Bank the balance referred to in the first paragraph of section 13 of the Federal Reserve Act (12 U.S.C. 342); or (ii) An Edge corporation or agreement corporation that maintains an account with a Reserve Bank in conformity with part 211 of this chapter (Regulation K); (4) Another Reserve Bank; (5) An international organization for which a Reserve Bank is empowered to act as depositary or fiscal agent and maintains an account; (6) A foreign correspondent, defined as any of the following entities for which a Reserve Bank maintains an account: A foreign bank or banker, a foreign state as defined in section 25(b) of the Federal Reserve Act (12 U.S.C. 632), or a foreign correspondent or agency referred to in section 14(e) of that act (12 U.S.C. 358); or (7) A branch or agency of a foreign bank maintaining reserves under section 7 of the International Banking Act of 1978 (12 U.S.C. 347d, 3105). State means a State of the United States, the District of Columbia, Puerto Rico, or a territory, possession, or dependency of the United States. Uniform Commercial Code and U.C.C. mean the Uniform Commercial Code as adopted in a state Terms not defined in this section. Unless the context otherwise requires-- (1) The terms not defined herein have the meanings set forth in Sec. 229.2 of this chapter applicable to subpart C or D of part 229 of this chapter (Regulation CC), as appropriate; and (2) The terms not defined herein or in Sec. 229.2 of this chapter have the meanings set forth in the Uniform Commercial Code. [Reg. J, 87 FR 34357, June 6, 2022] Sec. 210.3 General provisions. (a) General. Each Reserve Bank shall receive and handle items in accordance with this subpart, and shall issue operating circulars governing the details of its handling of items and other matters deemed appropriate by the Reserve Bank. The circulars may, among other things, classify cash items and noncash items, require separate sorts and letters, provide different closing times for the receipt of different classes or types of items, provide for instructions by an Administrative Reserve Bank to other Reserve Banks, set forth terms of services, and establish procedures for adjustments on a Reserve Bank's books, including amounts, waiver of expenses, and payment of compensation. As deemed appropriate by the Reserve Bank, the circulars may also require the sender to provide warranties and indemnities that only items and any noncash items the Reserve Banks have agreed to handle will be sent to the Reserve Banks. The Reserve Banks may provide to a subsequent collecting bank and to the paying bank any warranties and indemnities provided by the sender pursuant to this paragraph (a). (b) Binding effect. This subpart, together with subparts C and D of part 229 and the operating circulars of the Reserve Banks, are binding on all parties interested in an item handled by any Reserve Bank. (c) Government items. As depositaries and fiscal agents of the United States, Reserve Banks handle certain items payable by the United States or certain Federal agencies as cash or noncash items. To the extent provided by regulations issued by, and arrangements made with, the United States Treasury Department and other Government departments and agencies, the handling of such items is governed by this subpart. The Reserve Banks shall include in their operating circulars such information regarding these regulations and arrangements as the Reserve Banks deem appropriate. (d) Government senders. Except as otherwise provided by statutes of the United States, or regulations issued or arrangements made thereunder, this subpart and the operating circulars of [[Page 268]] the Reserve Banks apply to the following when acting as a sender: a department, agency, instrumentality, independent establishment, or office of the United States, or a wholly owned or controlled Government corporation, that maintains or uses an account with a Reserve Bank. (e) Foreign items. A Reserve Bank also may receive and handle certain items payable outside a Federal Reserve District, as provided in its operating circulars. The handling of such items in a state is governed by this subpart, and the handling of such items outside a state is governed by the local law. (f) Relation to other law. The provisions of this subpart supersede any inconsistent provisions of the Uniform Commercial Code, of any other state law, or of part 229 of this title, but only to the extent of the inconsistency. [45 FR 68634, Oct. 16, 1980, as amended at 51 FR 21744, June 16, 1986; 53 FR 21984, June 13, 1988; Reg. J, 59 FR 22965, May 4, 1994; 62 FR 48171, Sept. 15, 1997; Reg. J, 69 FR 62558, Oct. 27, 2004; 77 FR 21858, Apr. 12, 2012; 83 FR 61518, Nov. 30, 2018] Sec. 210.4 Sending items to Reserve Banks. (a) Sending of items. A sender's Administrative Reserve Bank may direct a sender other than a Reserve Bank to send any item to a specified Reserve Bank, whether or not the item is payable in the Reserve Bank's district. (b) Handling of items. (1) The following parties, in the following order, are deemed to have handled an item that is sent to a Reserve Bank for collection: (i) The initial sender; (ii) The initial sender's Administrative Reserve Bank (which is deemed to have accepted deposit of the item from the initial sender); (iii) The Reserve Bank that receives the item from the initial sender (if different from the initial sender's Administrative Reserve Bank); and (iv) Another Reserve Bank, if any, that receives the item from a Reserve Bank. (2) A Reserve Bank that is not described in paragraph (b)(1) of this section is not a person that handles an item and is not a collecting bank with respect to an item. (3) The identity and order of the parties under paragraph (b)(1) of this section determine the relationships and the rights and liabilities of the parties under this subpart, part 229 of this chapter (Regulation CC), section 13(1) and section 16(13) of the Federal Reserve Act, and the Uniform Commercial Code. An initial sender's Administrative Reserve Bank that is deemed to accept an item for deposit or handle an item is also deemed to be a sender with respect to that item. The Reserve Banks that are deemed to handle an item are deemed to be agents or subagents of the owner of the item, as provided in Sec. 210.6(a). (c) Checks received at par. The Reserve Banks shall receive cash items and other checks at par. [Reg. J, 77 FR 21858, Apr. 12, 2012; 83 FR 61518, Nov. 30, 2018] Sec. 210.5 Sender's agreement; recovery by Reserve Bank. (a) Sender's agreement. The warranties, indemnities, authorizations, and agreements made pursuant to this paragraph (a) may not be disclaimed and are made whether or not the item bears an indorsement of the sender. By sending an item to a Reserve Bank, the sender does all of the following. (1) Authorization to handle item. The sender authorizes the sender's Administrative Reserve Bank and any other Reserve Bank or collecting bank to which the item is sent to handle the item (and authorizes any Reserve Bank that handles settlement for the item to make accounting entries), subject to this subpart and to the Reserve Banks' operating circulars, and warrants its authority to give this authorization. (2) Warranties for all items. The sender warrants to each Reserve Bank handling the item that-- (i) The sender is a person entitled to enforce the item or authorized to obtain payment of the item on behalf of a person entitled to enforce the item; (ii) The item has not been altered; and (iii) The item bears all indorsements applied by parties that previously handled the item for forward collection or return. [[Page 269]] (3) Warranties and indemnities as set forth in Regulation CC and U.C.C. As applicable and unless otherwise provided, the sender of an item makes to each Reserve Bank that handles the item all the warranties and indemnities set forth in and subject to the terms of subparts C and D of part 229 of this chapter (Regulation CC) and Article 4 of the U.C.C. The sender makes all the warranties set forth in and subject to the terms of 4-207 of the U.C.C. for an electronic check as if it were an item subject to the U.C.C. (4) Warranties and indemnities as set forth in Reserve Bank operating circulars. The sender makes any warranties and indemnities regarding the sending of items as set forth in an operating circular issued in accordance with Sec. 210.3(a). (5) Sender's liability to Reserve Bank. (i) Except as provided in paragraphs (a)(5)(ii) and (iii) of this section, the sender agrees to indemnify each Reserve Bank for any loss or expense sustained (including attorneys' fees and expenses of litigation) resulting from-- (A) The sender's lack of authority to make the warranty in paragraph (a)(1) of this section; (B) Any action taken by the Reserve Bank within the scope of its authority in handling the item; or (C) Any warranty or indemnity made by the Reserve Bank under Sec. 210.6(b), part 229 of this chapter, the U.C.C., or, regarding the sending of items, an operating circular issued in accordance with Sec. 210.3(a). (ii) A sender's liability for warranties and indemnities that the Reserve Bank makes for a substitute check, a paper or electronic representation thereof, or for an electronic check is subject to the following conditions and limitations-- (A) A sender of an original check shall not be liable under paragraph (a)(5)(i) of this section for any amount that the Reserve Bank pays under subpart D of part 229 of this chapter, or under Sec. 229.34 of this chapter with respect to an electronic check, absent the sender's agreement to the contrary; and (B) Nothing in this subpart alters the liability of a sender of a substitute check or paper or electronic representation of a substitute check under subpart D of part 229 of this chapter, or a sender of an electronic check under Sec. 229.34 of this chapter. (iii) A sender shall not be liable for any amount that the Reserve Bank pays under this subpart or part 229 of this chapter that is attributable to the Reserve Bank's own lack of good faith or failure to exercise ordinary care. (b) Sender's liability under other law. Nothing in paragraph (a) of this section limits any warranty or indemnity by a sender (or a person that handled an item prior to the sender) arising under state law or regulation (such as the U.C.C.), other federal law or regulation (such as part 229 of this chapter), or an agreement with a Reserve Bank. (c) Recovery by Reserve Bank. (1) A Reserve Bank that has handled an item may recover as provided in paragraph (c)(2) of this section if an action or proceeding is brought against (or if defense is tendered to) the Reserve Bank based on-- (i) The alleged failure of the sender to have the authority to make the warranty and agreement in paragraph (a)(1) of this section; (ii) Any action by the Reserve Bank within the scope of its authority in handling the item; or (iii) Any warranty or indemnity made by the Reserve Bank under Sec. 210.6(b), part 229 of this chapter, or the U.C.C. (2) Upon entry of a final judgment or decree in an action or proceeding described in paragraph (c)(1) of this section, a Reserve Bank may recover from the sender the amount of attorneys' fees and other expenses of litigation incurred, as well as any amount the Reserve Bank is required to pay because of the judgment or decree or the tender of defense, together with interest thereon. (d) Methods of recovery. (1) The Reserve Bank may recover the amount stated in paragraph (c) of this section by charging any account on its books that is maintained or used by the sender (or by charging a Reserve Bank sender), if-- (i) The Reserve Bank made seasonable written demand on the sender to assume defense of the action or proceeding; and [[Page 270]] (ii) The sender has not made any other arrangement for payment that is acceptable to the Reserve Bank. (2) The Reserve Bank is not responsible for defending the action or proceeding before using this method of recovery. A Reserve Bank that has been charged under this paragraph (d) may recover from its sender in the manner and under the circumstances set forth in this paragraph (d). (3) A Reserve Bank's failure to avail itself of the remedy provided in this paragraph (d) does not prejudice its enforcement in any other manner of the indemnity agreement referred to in paragraph (a)(5) of this section. (e) Security interest. When a sender sends an item to a Reserve Bank, the sender and any prior collecting bank grant to the sender's Administrative Reserve Bank a security interest in all of their respective assets in the possession of, or held for the account of, any Reserve Bank to secure their respective obligations due or to become due to the Administrative Reserve Bank under this subpart or subpart C or D of part 229 of this chapter (Regulation CC). The security interest attaches when a warranty is breached or any other obligation to the Reserve Bank is incurred. If the Reserve Bank, in its sole discretion, deems itself insecure and gives notice thereof to the sender or prior collecting bank, or if the sender or prior collecting bank suspends payments or is closed, the Reserve Bank may take any action authorized by law to recover the amount of an obligation, including, but not limited to, the exercise of rights of set off, the realization on any available collateral, and any other rights it may have as a creditor under applicable law. [45 FR 68634, Oct. 16, 1980, as amended at 51 FR 21745, June 16, 1986; Reg. J, 59 FR 22965, May 4, 1994; 62 FR 48171, Sept. 15, 1997, Reg. J, 69 FR 62558, Oct. 27, 2004; 70 FR 71224, Nov. 28, 2005; 83 FR 61518, Nov. 30, 2018] Sec. 210.6 Status, warranties, and liability of Reserve Bank. (a)(1) Status. A Reserve Bank that handles an item shall act as agent or subagent of the owner with respect to the item. This agency terminates when a Reserve Bank receives final payment for the item in actually and finally collected funds, a Reserve Bank makes the proceeds available for use by the sender, and the time for commencing all actions against the Reserve Bank has expired. (2) Limitations on Reserve Bank liability. A Reserve Bank shall not have or assume any liability with respect to an item or its proceeds except-- (i) For the Reserve Bank's own lack of good faith or failure to exercise ordinary care; (ii) As provided in paragraph (b) of this section; (iii) As provided in an operating circular issued in accordance with Sec. 210.3(a) regarding the sending of items; and (iv) As provided in subparts C and D of part 229 of this chapter (Regulation CC). (3) Reliance on routing designation appearing on item. A Reserve Bank may present or send an item based on the routing number or other designation of a paying bank or nonbank payor appearing in any form on the item when the Reserve Bank receives it. A Reserve Bank shall not be responsible for any delay resulting from its acting on any designation, whether inscribed by magnetic ink or by other means, and whether or not the designation acted on is consistent with any other designation appearing on the item. (b) Warranties and liability. The following provisions apply when a Reserve Bank presents or sends an item. (1) Warranties for all items. The Reserve Bank warrants to a subsequent collecting bank and to the paying bank and any other payor that-- (i) The Reserve Bank is a person entitled to enforce the item (or is authorized to obtain payment of the item on behalf of a person that is either entitled to enforce the item or authorized to obtain payment on behalf of a person entitled to enforce the item); (ii) The item has not been altered; and (iii) The item bears all indorsements applied by parties that previously handled the item for forward collection or return. (2) Warranties and indemnities as set forth in Reserve Bank operating circulars. The Reserve Bank makes any warranties and indemnities regarding the [[Page 271]] sending of items as set forth in an operating circular issued in accordance with Sec. 210.3(a). (3) Warranties and indemnities as set forth in Regulation CC and U.C.C. As applicable and unless otherwise provided, the Reserve Bank makes all the warranties and indemnities set forth in and subject to the terms of subparts C and D of part 229 of this chapter (Regulation CC) and Article 4 of the U.C.C. The Reserve Bank makes all the warranties set forth in and subject to the terms of 4-207 of the U.C.C. for an electronic check as if it were an item subject to the U.C.C. (4) Indemnity for substitute check created from an electronic check. (i) Except as provided in paragraph (b)(4)(ii) of this section, the Reserve Bank shall indemnify the bank to which it transfers or presents an electronic check (the recipient bank) for the amount of any losses that the recipient bank incurs under subpart D of part 229 of this chapter (Regulation CC) for an indemnity that the recipient bank was required to make under subpart D of part 229 of this chapter in connection with a substitute check later created from the electronic check. (ii) The Reserve Bank shall not be liable under paragraph (b)(4)(i) of this section for any amount that the recipient bank pays under subpart D of part 229 of this chapter that is attributable to the lack of good faith or failure to exercise ordinary care of the recipient bank or a person that handled the item, in any form, after the recipient bank. (c) Time for commencing action against Reserve Bank. (1) A claim against a Reserve Bank for lack of good faith or failure to exercise ordinary care shall be barred unless the action on the claim is commenced within two years after the claim accrues. Such a claim accrues on the date when a Reserve Bank's alleged failure to exercise ordinary care or to act in good faith first results in damages to the claimant. (2) A claim that arises under paragraph (b)(3) of this section shall be barred unless the action on the claim is commenced within one year after the claim accrues. Such a claim accrues as of the date on which the claimant first learns, or by which the claimant reasonably should have learned, of the facts and circumstances giving rise to the claim. (3) This paragraph (c) does not alter the time limit for claims under Sec. 229.38(g) of this chapter (which include claims for breach of warranty under Sec. 229.34 of this chapter) or subpart D of part 229 of this chapter. [45 FR 68634, Oct. 16, 1980, as amended at 51 FR 21745, June 16, 1986; 53 FR 21984, June 13, 1988; Reg. J, 59 FR 22966, May 4, 1994; 62 FR 48172, Sept. 15, 1997; Reg. J, 69 FR 62559, Oct. 27, 2004; 70 FR 71225, Nov. 28, 2005; 83 FR 61519, Nov. 30, 2018] Sec. 210.7 Presenting items for payment. (a) Presenting or sending. As provided under State law or as otherwise permitted by this section: (1) A Reserve Bank or a subsequent collecting bank may present an item for payment or send the item for presentment and payment; and (2) A Reserve Bank may send an item to a subsequent collecting bank with authority to present it for payment or to send it for presentment and payment. (b) Place of presentment. A Reserve Bank or subsequent collecting bank may present an item-- (1) At a place requested by the paying bank; (2) In accordance with Sec. 229.36 of this chapter (Regulation CC); (3) At a place requested by the nonbank payor, if the item is payable by a nonbank payor other than through or at a paying bank; (4) Under a special collection agreement consistent with this subpart; or (5) Through a clearinghouse and subject to its rules and practices. (c) Presenting or sending direct. A Reserve Bank or subsequent collecting bank may, with respect to an item that may be sent to the paying bank or nonbank payor in the Reserve Bank's District-- (1) Present or send the item direct to the paying bank, or to a place requested by the paying bank; or (2) If the item is payable by a nonbank payor other than through a paying bank, present it direct to the nonbank payor. Documents, securities, or other papers accompanying a noncash item shall not be delivered to [[Page 272]] the nonbank payor before the item is paid unless the sender specifically authorizes delivery. (d) Item sent to another district. A Reserve Bank receiving an item that may be sent to a paying bank or nonbank payor in another District ordinarily sends the item to the Reserve Bank of the other District, but with the agreement of the other Reserve Bank, may present or send the item as if it were sent to a paying bank or nonbank payor in its own District. [45 FR 68634, Oct. 16, 1980, as amended at 53 FR 21985, June 13, 1988; 62 FR 48172, Sept. 15, 1997; Reg. J, 83 FR 61520, Nov. 30, 2018] Sec. 210.8 Presenting noncash items for acceptance. (a) A Reserve Bank or a subsequent collecting bank may, if instructed by the sender, present a noncash item for acceptance in any manner authorized by law if-- (1) The item provides that it must be presented for acceptance; (2) The item may be presented elsewhere than at the residence or place of business of the payor; or (3) The date of payment of the item depends on presentment for acceptance. (b) Documents accompanying a noncash item shall not be delivered to the payor upon acceptance of the item unless the sender specifically authorizes delivery. A Reserve Bank shall not have or assume any other obligation to present or to send for presentment for acceptance any noncash item. [62 FR 48172, Sept. 15, 1997] Sec. 210.9 Settlement and payment. (a) Settlement through Administrative Reserve Bank. A paying bank shall settle for an item under this subpart with its Administrative Reserve Bank, whether or not the paying bank received the item from that Reserve Bank. A paying bank's settlement with its Administrative Reserve Bank is deemed to be settlement with the Reserve Bank from which the paying bank received the item. A paying bank may settle for an item using any account on a Reserve Bank's books by agreement with its Administrative Reserve Bank, any other Reserve Bank holding the settlement account, and the account-holder. The paying bank remains responsible for settlement if the Reserve Bank holding the settlement account does not, for any reason, obtain settlement in that account. (b) Cash items--(1) Settlement obligation. On the day a paying bank receives \2\ a cash item from a Reserve Bank, it shall settle for the item such that the proceeds of the settlement are available to its Administrative Reserve Bank by the close of Fedwire on that day, or it shall return the item by the later of the close of its banking day or the close of Fedwire. If the paying bank fails to settle for or return a cash item in accordance with this paragraph (b)(1), it is accountable for the amount of the item as of the close of its banking day or the close of Fedwire on the day it receives the item, whichever is earlier. --------------------------------------------------------------------------- \2\ A paying bank is deemed to receive a cash item on its next banking day if it receives the item-- (1) On a day other than a banking day for it; or (2) On a banking day for it, but after a ``cut-off hour'' established by it in accordance with state law. --------------------------------------------------------------------------- (2) Time of settlement. (i) On the day a paying bank receives a cash item from a Reserve Bank, it shall settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank, or return the item, by the latest of-- (A) The next clock hour or clock half-hour that is at least one half-hour after the paying bank receives the item; (B) 8:30 a.m. eastern time; or (C) Such later time as provided in the Reserve Banks' operating circulars. (ii) If the paying bank fails to settle for or return a cash item in accordance with paragraph (b)(2)(i) of this section, it shall be subject to any applicable overdraft charges. Settlement under paragraph (b)(2)(i) of this section satisfies the settlement requirements of paragraph (b)(1) of this section. (3) Paying bank closes voluntarily. (i) If a paying bank closes voluntarily so that it does not receive a cash item on a day that is a banking day for a Reserve Bank, and the Reserve Bank makes a cash item available to the [[Page 273]] paying bank on that day, the paying bank shall either-- (A) On that day, settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank, or return the item, by the latest of the next clock hour or clock half-hour that is at least one half-hour after it ordinarily would have received the item, 8:30 a.m. eastern time, or such later time as provided in the Reserve Banks' operating circulars; or (B) On the next day that is a banking day for both the paying bank and the Reserve Bank, settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank by 8:30 a.m. eastern time on that day or such later time as provided in the Reserve Banks' operating circulars; and compensate the Reserve Bank for the value of the float associated with the item in accordance with procedures provided in the Reserve Bank's operating circular. (ii) If a paying bank closes voluntarily so that it does not receive a cash item on a day that is a banking day for a Reserve Bank, and the Reserve Bank makes a cash item available to the paying bank on that day, the paying bank is not considered to have received the item until its next banking day, but it shall be subject to any applicable overdraft charges if it fails to settle for or return the item in accordance with paragraph (b)(3)(i) of this section. The settlement requirements of paragraphs (b)(1) and (2) of this section do not apply to a paying bank that settles in accordance with paragraph (b)(3)(i) of this section. (4) Reserve Bank closed. If a paying bank receives a cash item from a Reserve Bank on a banking day that is not a banking day for the Reserve Bank, the paying bank shall-- (i) Settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank by the close of the Fedwire Funds Service on the Reserve Bank's next banking day, or return the item by midnight of the day it receives the item (if the paying bank fails to settle for or return a cash item in accordance with this paragraph (b)(4)(i), it shall become accountable for the amount of the item as of the close of its banking day on the day it receives the item); and (ii) Settle for the item so that the proceeds of the settlement are available to its Administrative Reserve Bank by 8:30 a.m. eastern time on the Reserve Bank's next banking day or such later time as provided in the Reserve Bank's operating circular, or return the item by midnight of the day it receives the item. If the paying bank fails to settle for or return a cash item in accordance with this paragraph (b)(4)(ii), it shall be subject to any applicable overdraft charges. Settlement under this paragraph (b)(4)(ii) satisfies the settlement requirements of paragraph (b)(4)(i) of this section. (5) Manner of settlement. Settlement with a Reserve Bank under paragraphs (b)(1) through (4) of this section shall be made by debit to an account on the Reserve Bank's books or other form of settlement to which the Reserve Bank agrees, except that the Reserve Bank may, in its discretion, obtain settlement by charging the paying bank's account. A paying bank may not set off against the amount of a settlement under this section the amount of a claim with respect to another cash item, cash letter, or other claim under Sec. 229.34 of this chapter (Regulation CC) or other law. (6) Notice in lieu of return. If a cash item is unavailable for return, the paying bank may send a notice in lieu of return as provided in Sec. 229.31(f) of this chapter (Regulation CC). (c) Noncash items. A Reserve Bank may require the paying or collecting bank to which it has presented or sent a noncash item to pay for the item by a debit to an account maintained or used by the paying or collecting bank on the Reserve Bank's books or by any other form of settlement acceptable to the Reserve Bank. (d) Nonbank payor. A Reserve Bank may require a nonbank payor to which it has presented an item to pay for it by debit to an account on the Reserve Bank's books or other form of settlement acceptable to the Reserve Bank. (e) Liability of Reserve Bank. Except as set forth in Sec. 229.35(b) of this chapter (Regulation CC), a Reserve Bank shall not be liable for the failure of a collecting bank, paying bank, or nonbank [[Page 274]] payor to pay for an item, or for any loss resulting from the Reserve Bank's acceptance of any form of payment other than cash authorized in paragraphs (b), (c), and (d) of this section. A Reserve Bank that acts in good faith and exercises ordinary care shall not be liable for the nonpayment of, or failure to realize upon, any non-cash form of payment that it accepts under paragraphs (b), (c), and (d) of this section. [45 FR 68634, Oct. 16, 1980, as amended at 49 FR 4200, Feb. 3, 1984; 51 FR 21745, June 16, 1986; 53 FR 21985, June 13, 1988; 57 FR 46955, Oct. 14, 1992; Reg. J, 59 FR 22966, May 4, 1994; 62 FR 48172, Sept. 15, 1997; 70 FR 71225, Nov. 28, 2005; 79 FR 72111, Dec. 5, 2014; 83 FR 61520, Nov. 30, 2018] Sec. 210.10 Time schedule and availability of credits for cash items and returned checks. (a) Each Reserve Bank shall publish a time schedule indicating when the amount of any cash item or returned check received by it is counted toward the balance maintained to satisfy a reserve balance requirement for purposes of part 204 of this chapter (Regulation D) and becomes available for use by the sender or paying or returning bank. The Reserve Bank that holds the settlement account shall give either immediate or deferred credit to a sender, a paying bank, or a returning bank (other than a foreign correspondent) in accordance with the time schedule of the receiving Reserve Bank. A Reserve Bank ordinarily gives credit to a foreign correspondent only when the Reserve Bank receives payment of the item in actually and finally collected funds, but, in its discretion, a Reserve Bank may give immediate or deferred credit in accordance with its time schedule. (b) Notwithstanding its time schedule, a Reserve Bank may refuse at any time to permit the use of credit given by it for any cash item or returned check, and may defer availability after credit is received by the Reserve Bank for a period of time that is reasonable under the circumstances. [62 FR 48173, Sept. 15, 1997, as amended by Reg. J, 77 FR 21858, Apr. 12, 2012; 83 FR 61520, Nov. 30, 2018] Sec. 210.11 Availability of proceeds of noncash items; time schedule. (a) Availability of credit. A Reserve Bank shall give credit to the sender for the proceeds of a noncash item when it receives payment in actually and finally collected funds (or advice from another Reserve Bank of such payment to it). The amount of the item is counted toward the balance maintained to satisfy a reserve balance requirement for purposes of part 204 of this chapter (Regulation D) and becomes available for use by the sender when the Reserve Bank receives the payment or advice, except as provided in paragraph (b) of this section. (b) Time schedule. A Reserve Bank may give credit for the proceeds of a noncash item subject to payment in actually and finally collected funds in accordance with a published time schedule. The time schedule shall indicate when the proceeds of the noncash item will be counted toward the balance maintained to satisfy a reserve balance requirement for purposes of part 204 of this chapter (Regulation D) and become available for use by the sender. A Reserve Bank may, however, refuse at any time to permit the use of credit given by it for a noncash item for which the Reserve Bank has not yet received payment in actually and finally collected funds. [Reg. J, 77 FR 21858, Apr. 12, 2012, as amended at 83 FR 61521, Nov. 30, 2018] Sec. 210.12 Return of cash items and handling of returned checks. (a) Return of items--(1) Return of cash items handled by Reserve Banks. A paying bank that receives a cash item from a Reserve Bank, other than for immediate payment over the counter, and that settles for the item as provided in Sec. 210.9(b), may, before it has finally paid the item, return the item to any Reserve Bank (unless its Administrative Reserve Bank directs it to return the item to a specific Reserve Bank) in accordance with subpart C of part 229 of this chapter (Regulation CC), the Uniform Commercial Code, and the Reserve Banks' operating circulars. A paying bank that receives a cash item from a Reserve Bank also may return the item prior to settlement, in accordance with Sec. 210.9(b) and [[Page 275]] the Reserve Banks' operating circulars. The rules or practices of a clearinghouse through which the item was presented, or a special collection agreement under which the item was presented, may not extend these return times, but may provide for a shorter return time. (2) Return of checks not handled by Reserve Banks. A paying bank that receives a check, other than from a Reserve Bank, and that determines not to pay the check, may send the returned check to any Reserve Bank (unless its Administrative Reserve Bank directs it to send the returned check to a specific Reserve Bank) in accordance with subpart C of part 229 of this chapter (Regulation CC), the Uniform Commercial Code, and the Reserve Banks' operating circulars. A returning bank may send a returned check to any Reserve Bank (unless its Administrative Reserve Bank directs it to send the returned check to a specific Reserve Bank) in accordance with subpart C of part 229 of this chapter (Regulation CC), the Uniform Commercial Code, and the Reserve Banks' operating circulars. (b) Handling of returned checks. (1) The following parties, in the following order, are deemed to have handled a returned check sent to a Reserve Bank under paragraph (a) of this section-- (i) The paying or returning bank; (ii) The paying bank's or returning bank's Administrative Reserve Bank; (iii) The Reserve Bank that receives the returned check from the paying or returning bank (if different from the paying bank's or returning bank's Administrative Reserve Bank); and (iv) Another Reserve Bank, if any, that receives the returned check from a Reserve Bank. (2) A Reserve Bank that is not described in paragraph (b)(1) of this section is not a person that handles a returned check and is not a returning bank with respect to a returned check. (3) The identity and order of the parties under paragraph (b)(1) of this section determine the relationships and the rights and liabilities of the parties under this subpart, part 229 of this chapter (Regulation CC), and the Uniform Commercial Code. (c) Paying bank's and returning bank's agreement. The warranties, indemnities, authorizations, and agreements made pursuant to this paragraph (c) may not be disclaimed and are made whether or not the returned check bears an indorsement of the paying bank or returning bank. By sending a returned check to a Reserve Bank, the paying bank or returning bank does all of the following. (1) Authorization to handle returned check. The paying bank or returning bank authorizes the paying bank's or returning bank's Administrative Reserve Bank, and any other Reserve Bank or returning bank to which the returned check is sent, to handle the returned check (and authorizes any Reserve Bank that handles settlement for the returned check to make accounting entries) subject to this subpart and to the Reserve Banks' operating circulars. (2) Warranties for all returned checks. The paying bank or returning bank warrants to each Reserve Bank handling a returned check that the returned check bears all indorsements applied by parties that previously handled the returned check for forward collection or return. (3) Warranties and indemnities as set forth in Regulation CC. As applicable and unless otherwise provided, a paying bank or returning bank makes to each Reserve Bank that handles the returned check all the warranties and indemnities set forth in and subject to the terms of subparts C and D of part 229 of this chapter (Regulation CC). (4) Paying bank or returning bank's liability to Reserve Bank. (i) Except as provided in paragraph (c)(4)(ii) and (iii) of this section, a paying bank or returning bank agrees to indemnify each Reserve Bank for any loss or expense (including attorneys' fees and expenses of litigation) resulting from-- (A) The paying or returning bank's lack of authority to give the authorization in paragraph (c)(1) of this section; (B) Any action taken by a Reserve Bank within the scope of its authority in handling the returned check; or (C) Any warranty or indemnity made by the Reserve Bank under paragraph (e) of this section or part 229 of this chapter. (ii) A paying bank's or returning bank's liability for warranties and indemnities that a Reserve Bank makes [[Page 276]] for a returned check that is a substitute check, a paper or electronic representation thereof, or an electronic returned check is subject to the following conditions and limitations-- (A) A paying bank or returning bank that sent an original returned check shall not be liable for any amount that a Reserve Bank pays under subpart D of part 229 of this chapter, or under Sec. 229.34 of this chapter with respect to an electronic returned check, absent the paying bank's or returning bank's agreement to the contrary; and (B) Nothing in this subpart alters the liability under subpart D of part 229 of this chapter of a paying bank or returning bank that sent a substitute check or a paper or electronic representation of a substitute check or under Sec. 229.34 of this chapter of a paying bank or returning bank that sent an electronic returned check; and (iii) A paying bank or returning bank shall not be liable for any amount that the Reserve Bank pays under this subpart or part 229 of this chapter that is attributable to the Reserve Bank's own lack of good faith or failure to exercise ordinary care. (d) Paying bank or returning bank's liability under other law. Nothing in paragraph (c) of this section limits any warranty or indemnity by a returning bank or paying bank (or a person that handled an item prior to that bank) arising under state law or regulation (such as the U.C.C.), other federal law or regulation (such as part 229 of this chapter), or an agreement with a Reserve Bank. (e) Warranties by and liability of Reserve Bank--(1) Warranties and indemnities. The following provisions apply when a Reserve Bank handles a returned check under this subpart. (i) Warranties for all items. The Reserve Bank warrants to the bank to which it sends the returned check that the returned check bears all indorsements applied by parties that previously handled the returned check for forward collection or return. (ii) Warranties and indemnities as set forth in Regulation CC. As applicable and unless otherwise provided, the Reserve Bank makes all the warranties and indemnities set forth in and subject to the terms of subparts C and D of part 229 of this chapter (Regulation CC). (2) Indemnity for substitute check created from electronic returned check. (i) Except as provided in paragraph (e)(2)(ii) of this section, the Reserve Bank shall indemnify the bank to which it transfers or presents an electronic returned check (the recipient bank) for the amount of any losses that the recipient bank incurs under subpart D of part 229 of this chapter (Regulation CC) for an indemnity that the recipient bank was required to make under subpart D of part 229 of this chapter in connection with a substitute check later created from the electronic returned check. (ii) The Reserve Bank shall not be liable under paragraph (e)(2)(i) of this section for any amount that the recipient bank pays under subpart D of part 229 of this chapter that is attributable to the lack of good faith or failure to exercise ordinary care of the recipient bank or a person that handled the item, in any form, after the recipient bank. (3) Liability of Reserve Bank. A Reserve Bank shall not have or assume any other liability to any person except-- (i) For the Reserve Bank's own lack of good faith or failure to exercise ordinary care; (ii) As provided in this paragraph (e); and (iii) As provided in subparts C and D of part 229 of this chapter (Regulation CC). (f) Recovery by Reserve Bank. (1) A Reserve Bank that has handled a returned check may recover as provided in paragraph (f)(2) of this section if an action or proceeding is brought against (or if defense is tendered to) the Reserve Bank based on-- (i) The alleged failure of the paying bank or returning bank to have the authority to give the authorization in paragraph (c)(1) of this section; (ii) Any action by the Reserve Bank within the scope of its authority in handling the returned check; or (iii) Any warranty or indemnity made by the Reserve Bank under paragraph (e) of this section or part 229 of this chapter; and [[Page 277]] (2) Upon entry of a final judgment or decree in an action or proceeding described in paragraph (f)(1) of this section, a Reserve Bank may recover from the paying bank or returning bank the amount of attorneys' fees and other expenses of litigation incurred, as well as any amount the Reserve Bank is required to pay because of the judgment or decree or the tender of defense, together with interest thereon. (g) Methods of recovery. (1) The Reserve Bank may recover the amount stated in paragraph (f) of this section by charging any account on its books that is maintained or used by the paying bank or returning bank (or by charging another returning Reserve Bank), if-- (i) The Reserve Bank made seasonable written demand on the paying bank or returning bank to assume defense of the action or proceeding; and (ii) The paying bank or returning bank has not made any other arrangement for payment that is acceptable to the Reserve Bank. (2) The Reserve Bank is not responsible for defending the action or proceeding before using this method of recovery. A Reserve Bank that has been charged under this paragraph (g) may recover from the paying or returning bank in the manner and under the circumstances set forth in this paragraph (g). (3) A Reserve Bank's failure to avail itself of the remedy provided in this paragraph (g) does not prejudice its enforcement in any other manner of the indemnity agreement referred to in paragraph (c)(4) of this section. (h) Reserve Bank's responsibility. A Reserve Bank shall handle a returned check, or a notice of nonpayment, in accordance with subpart C of part 229 and its operating circular. (i) Settlement. A subsequent returning bank or depositary bank shall settle with its Administrative Reserve Bank for returned checks in the same manner and by the same time as for cash items presented for payment under this subpart. Settlement with its Administrative Reserve Bank is deemed to be settlement with the Reserve Bank from which the returning bank or depositary bank received the item. (j) Security interest. When a paying or returning bank sends a returned check to a Reserve Bank, the paying bank, returning bank, and any prior returning bank grant to the paying bank's or returning bank's Administrative Reserve Bank a security interest in all of their respective assets in the possession of, or held for the account of, any Reserve Bank, to secure their respective obligations due or to become due to the Administrative Reserve Bank under this subpart or subpart C of part 229 of this chapter (Regulation CC). The security interest attaches when a warranty is breached or any other obligation to the Reserve Bank is incurred. If the Reserve Bank, in its sole discretion, deems itself insecure and gives notice thereof to the paying bank, returning bank, or prior returning bank, or if the paying bank, returning bank, or prior returning bank suspends payments or is closed, the Reserve Bank may take any action authorized by law to recover the amount of an obligation, including, but not limited to, the exercise of rights of set off, the realization on any available collateral, and any other rights it may have as a creditor under applicable law. [53 FR 21985, June 13, 1988, as amended at Reg. J, 59 FR 22966, May 4, 1994; 62 FR 48173, Sept. 15, 1997; Reg, J, 69 FR 62560, Oct. 27, 2004; 83 FR 61521, Nov. 30, 2018] Sec. 210.13 Unpaid items. (a) Right of recovery. If a Reserve Bank does not receive payment in actually and finally collected funds for an item, the Reserve Bank shall recover by charge-back or otherwise the amount of the item from the sender, prior collecting bank, paying bank, or returning bank from or through which it was received, whether or not the item itself can be sent back. In the event of recovery from such a person, no person, including the owner or holder of the item, shall, for the purpose of obtaining payment of the amount of the item, have any interest in any reserve balance or other funds or property in the Reserve Bank's possession of the bank that failed to make payment in actually and finally collected funds. (b) Suspension or closing of bank. A Reserve Bank shall not pay or act on a [[Page 278]] draft, authorization to charge (including a charge authorized by Sec. 210.9(b)(5)), or other order on a reserve balance or other funds in its possession for the purpose of settling for items under Sec. 210.9 or Sec. 210.12 after it receives notice of suspension or closing of the bank making the settlement for that bank's own or another's account. [Reg. J, 59 FR 22966, May 4, 1994, as amended at Reg. J, 69 FR 62561, Oct. 27, 2004] Sec. 210.14 Extension of time limits. If a bank (including a Reserve Bank) or nonbank payor is delayed in acting on an item beyond applicable time limits because of interruption of communication or computer facilities, suspension of payments by a bank or nonbank payor, war, emergency conditions, failure of equipment, or other circumstances beyond its control, its time for acting is extended for the time necessary to complete the action, if it exercises such diligence as the circumstances require. [Reg. J, 59 FR 22967, May 4, 1994] Sec. 210.15 Direct presentment of certain warrants. If a Reserve Bank elects to present direct to the payor a bill, note, or warrant that is issued and payable by a State or a political subdivision and that is a cash item not payable or collectible through a bank: (a) Sections 210.9, 210.12, and 210.13 and the operating circulars of the Reserve Banks apply to the payor as if it were a paying bank; (b) Sec. 210.14 applies to the payor as if it were a bank; and (c) under Sec. 210.9 each day on which the payor is open for the regular conduct of its affairs or the accommodation of the public is considered a banking day. Subpart B_Funds Transfers Through the Fedwire Funds Service Source: 55 FR 40801, Oct. 5, 1990, unless otherwise noted. Sec. 210.25 Authority, purpose, and scope. (a) Authority and purpose. This subpart provides rules to govern funds transfers through the Fedwire Funds Service, and has been issued pursuant to the Federal Reserve Act--section 13 (12 U.S.C. 342), paragraph (f) of section 19 (12 U.S.C. 464), paragraph 14 of section 16 (12 U.S.C. 248(o)), and paragraphs (i) and (j) of section 11 (12 U.S.C. 248(i) and (j))--and other laws and has the force and effect of federal law. This subpart is not a funds-transfer system rule as defined in Section 4A-501(b) of Article 4A. (b) Scope. (1) This subpart incorporates the provisions of Article 4A set forth in appendix A of this part. In the event of an inconsistency between the provisions of the sections of this subpart and appendix A of this part, the provisions of the sections of this subpart shall prevail. In the event of an inconsistency between the provisions this subpart and section 919 of the Electronic Fund Transfer Act, section 919 of the Electronic Fund Transfer Act shall prevail. (2) Except as otherwise provided in paragraphs (b)(3) and (4) of this section, this subpart, including Article 4A as set forth in appendix A of this part and operating circulars of the Federal Reserve Banks issued in accordance with paragraph (c) of this section, governs the rights and obligations of the following parties with respect to the Fedwire Funds Service: (i) Federal Reserve Banks that send or receive payment orders; (ii) Senders that send payment orders directly to a Federal Reserve Bank; (iii) Receiving banks that receive payment orders directly from a Federal Reserve Bank; (iv) Beneficiaries that receive payment for payment orders by means of credit to an account maintained or used at a Federal Reserve Bank; and (v) Other parties to a funds transfer any part of which is carried out through the Fedwire Funds Service to the same extent as if this subpart were considered a funds-transfer system rule under Article 4A. (3) This subpart governs a funds transfer that is sent through the Fedwire Funds Service, as provided in paragraph (b)(2) of this section, even though a portion of the funds transfer is governed by the Electronic Fund Transfer Act, but the portion of such funds transfer that is governed by the Electronic Fund Transfer Act (other [[Page 279]] than section 919 governing remittance transfers) is not governed by this subpart. (4) In the event that any portion of this Subpart establishes rights or obligations with respect to the availability of funds that are also governed by the Expedited Funds Availability Act or the Board's Regulation CC, Availability of Funds and Collection of Checks, those provisions of the Expedited Funds Availability Act or Regulation CC shall apply and the portion of this Subpart, including Article 4A as incorporated herein, shall not apply. (c) Operating Circulars. Each Federal Reserve Bank shall issue an Operating Circular consistent with this subpart that governs the details of its funds-transfer operations in connection with the Fedwire Funds Service and other matters it deems appropriate. Among other things, the Operating Circular may set cut-off times and funds-transfer business days; address security procedures offered by the Federal Reserve Banks to verify the authenticity of a payment order; specify format and media requirements for payment orders; specify the time and method of receipt, execution, and acceptance of a payment order and settlement of a Federal Reserve Bank's payment obligation for purposes of Article 4A; specify service terms governing ancillary features of the Fedwire Funds Service; provide for the acceptance of documents in electronic form to the extent any provision in Article 4A requires an agreement or other document to be in writing; identify messages that are not payment orders; and impose charges for funds-transfer services. (d) Government senders, receiving banks, and beneficiaries. Except as otherwise expressly provided by the statutes of the United States, the parties specified in paragraphs (b)(2)(ii) through (v) of this section include: (1) A department, agency, instrumentality, independent establishment, or office of the United States, or a wholly-owned or controlled Government corporation; (2) An international organization; (3) A foreign central bank; and (4) A department, agency, instrumentality, independent establishment, or office of a foreign government, or a wholly-owned or controlled corporation of a foreign government. (e) Financial messaging standards. Financial messaging standards (e.g., ISO 20022), including the financial messaging components, elements, technical documentation, tags, and terminology used to implement those standards, do not confer or connote legal status or responsibilities. This subpart, including Article 4A as set forth in appendix A of this part, and the operating circulars of the Reserve Banks issued in accordance with paragraph (c) of this section govern the rights and obligations of parties to funds transfers sent through the Fedwire Funds Service as provided in paragraph (b) of this section. To the extent there is any inconsistency between a financial messaging standard adopted by the Fedwire Funds Service and this subpart, this subpart shall prevail. [55 FR 40801, Oct. 5, 1990; 55 FR 47428, Nov. 13, 1990, as amended by Reg. J, 77 FR 21859, Apr. 12, 2012; 83 FR 61517, 61522, Nov. 30, 2018; 87 FR 34358, June 6, 2022] Sec. 210.26 Definitions. As used in this subpart, the following definitions apply: Article 4A means Article 4A of the Uniform Commercial Code as set forth in appendix A of this part, which is incorporated into this subpart in accordance with Sec. 210.25(b). Automated clearing house transfer means any transfer designated as an automated clearing house transfer in an operating circular issued by the Federal Reserve Banks. Beneficiary has the same meaning as in Article 4A except that the term is limited to a beneficiary in a funds transfer any portion of which is sent through the Fedwire Funds Service. Beneficiary's bank has the same meaning as in Article 4A, except that: (1) The term is limited to a beneficiary's bank in a funds transfer any portion of which is sent through the Fedwire Funds Service; (2) A Federal Reserve Bank need not be identified in the payment order in order to be the beneficiary's bank; and (3) The term includes a Federal Reserve Bank when that Federal Reserve Bank is the beneficiary of a payment order. [[Page 280]] Fedwire Funds Service means the funds-transfer system owned and operated by the Federal Reserve Banks that is used primarily for the transmission and settlement of payment orders governed by this subpart. The Fedwire Funds Service does not include the FedNow Service or the system for making automated clearing house transfers. Interdistrict transfer means a funds transfer involving entries to accounts maintained at two Federal Reserve Banks. Intradistrict transfer means a funds transfer involving entries to accounts maintained at one Federal Reserve Bank. Off-line bank means a bank that sends payment orders to and receives payment orders from a Federal Reserve Bank by telephone orally or by other means other than electronic data transmission. Payment order has the same meaning as in Article 4A except that the term includes only instructions sent or received through the Fedwire Funds Service and does not include automated clearing house transfers or any communication designated in an operating circular issued by a Federal Reserve Bank under this subpart as not being a payment order. Receiving bank has the same meaning as in Article 4A except that the term is limited to a receiving bank in a funds transfer any portion of which is sent through the Fedwire Funds Service. Sender has the same meaning as in Article 4A except that the term is limited to a sender in a funds transfer any portion of which is sent through the Fedwire Funds Service. Sender's account, receiving bank's account, and beneficiary's account mean the reserve, clearing, or other funds deposit account at a Federal Reserve Bank maintained or used by the sender, receiving bank, or beneficiary, respectively. Sender's Federal Reserve Bank and receiving bank's Federal Reserve Bank mean the Federal Reserve Bank at which the sender or receiving bank, respectively, maintains or uses an account. [Reg. J, 87 FR 34358, June 6, 2022] Sec. 210.27 Reliance on identifying number. (a) Reliance by a Federal Reserve Bank on number to identify an intermediary bank or beneficiary's bank. A Federal Reserve Bank may rely on the number in a payment order that identifies the intermediary bank or beneficiary's bank, even if it identifies a bank different from the bank identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification. (b) Reliance by a Federal Reserve Bank on number to identify beneficiary. A Federal Reserve Bank, acting as a beneficiary's bank, may rely on the number in a payment order that identifies the beneficiary, even if it identifies a person different from the person identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification. Sec. 210.28 Agreement of sender. (a) Payment of sender's obligation to a Federal Reserve Bank. A sender (other than a Federal Reserve Bank), by maintaining or using an account with a Federal Reserve Bank, authorizes the sender's Federal Reserve Bank to obtain payment for the sender's payment orders by debiting the amount of the payment order from the sender's account. (b) Overdrafts. (1) A sender does not have the right to an overdraft in the sender's account. In the event an overdraft is created, the overdraft shall be due and payable immediately, without the need for a demand by the Federal Reserve Bank, at the earliest of the following times: (i) At the end of the Fedwire Funds Service funds-transfer business day; (ii) At the time the Federal Reserve Bank, in its sole discretion, deems itself insecure and gives notice thereof to the sender; or (iii) At the time the sender suspends payments or is closed. (2) The sender shall have in its account, at the time the overdraft is due [[Page 281]] and payable, a balance of actually and finally collected funds sufficient to cover the aggregate amount of all its obligations to the Federal Reserve Bank, whether the obligations result from the execution of a payment order or otherwise. (3) To secure any overdraft, as well as any other obligation due or to become due to its Federal Reserve Bank, each sender, by sending a payment order to a Federal Reserve Bank that is accepted by the Federal Reserve Bank, grants to the Federal Reserve Bank a security interest in all of the sender's assets in the possession or control of, or held for the account of, the Federal Reserve Bank. The security interest attaches when an overdraft, or any other obligation to the Federal Reserve Bank, becomes due and payable. (4) A Federal Reserve Bank may take any action authorized by law to recover the amount of an overdraft that is due and payable, including, but not limited to, the exercise of rights of set off, the realization on any available collateral, and any other rights it may have as a creditor under applicable law. (5) If a sender, other than a government sender described in Sec. 210.25(d), incurs an overdraft in its account as a result of a debit to the account by a Federal Reserve Bank under paragraph (a) of this section, the account will be subject to any applicable overdraft charges, regardless of whether the overdraft has become due and payable. A Federal Reserve Bank may debit a sender's account under paragraph (a) of this section immediately on acceptance of the payment order. (c) Review of payment orders. A sender, by sending a payment order to a Federal Reserve Bank, agrees that for the purposes of sections 4A- 204(a) and 4A-304 of Article 4A, a reasonable time to notify a Federal Reserve Bank of the relevant facts concerning an unauthorized or erroneously executed payment order is within 30 calendar days after the sender receives notice that the payment order was accepted or executed, or that the sender's account was debited with respect to the payment order. [55 FR 40801, Oct. 5, 1990, as amended at 57 FR 46956, Oct. 14, 1992; Reg. J, 87 FR 34359, June 6, 2022] Sec. 210.29 Agreement of receiving bank. (a) Payment. A receiving bank (other than a Federal Reserve Bank) that receives a payment order from its Federal Reserve Bank authorizes that Federal Reserve Bank to pay for the payment order by crediting the amount of the payment order to the receiving bank's account. (b) Off-line banks. An off-line bank that does not expressly notify its Federal Reserve Bank in writing that it maintains an account for another bank warrants to that Federal Reserve Bank that the off-line bank does not act as an intermediary bank or a beneficiary's bank with respect to payment orders received through the Fedwire Funds Service for a beneficiary that is a bank. [55 FR 40801, Oct. 5, 1990; 55 FR 47428, Nov. 13, 1990, as amended by Reg. J, 83 FR 61522, Nov. 30, 2018] Sec. 210.30 Payment orders. (a) Rejection. A sender shall not send a payment order to a Federal Reserve Bank unless authorized to do so by the Federal Reserve Bank. A Federal Reserve Bank may reject, or impose conditions that must be satisfied before it will accept, a payment order for any reason. (b) Selection of an intermediary bank. For an interdistrict transfer through the Fedwire Funds Service, a Federal Reserve Bank is authorized and directed to execute a payment order through another Federal Reserve Bank. A sender shall not send a payment order to a Federal Reserve Bank that requires the Federal Reserve Bank to send a payment order to an intermediary bank (other than a Federal Reserve Bank) unless that intermediary bank is designated in the sender's payment order. A sender shall not send to a Federal Reserve Bank a payment order through the Fedwire Funds Service that instructs use by a Federal Reserve Bank of a funds-transfer system or means of transmission other than the Fedwire Funds Service unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions. (c) Execution date and payment date. A sender shall not send a payment order [[Page 282]] through the Fedwire Funds Service that instructs a Federal Reserve Bank to execute the payment order or to pay the beneficiary on a funds- transfer business day that is later than the Fedwire Funds Service funds-transfer business day on which the order is received by the Federal Reserve Bank, unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions. [55 FR 40801, Oct. 5, 1990, as amended by Reg. J, 87 FR 34359, June 6, 2022] Sec. 210.31 Payment by a Federal Reserve Bank to a receiving bank or beneficiary. (a) Payment to a receiving bank. Payment of a Federal Reserve Bank's obligation to pay a receiving bank (other than a Federal Reserve Bank) occurs at the earlier of the time when the amount of the payment order is credited to the receiving bank's account or when the payment order is sent to the receiving bank. (b) Payment to a beneficiary. Payment by a Federal Reserve Bank to a beneficiary of a payment order, where the Federal Reserve Bank is the beneficiary's bank, occurs at the earlier of the time when the amount of the payment order is credited to the beneficiary's account or when notice of the credit is sent to the beneficiary. Sec. 210.32 Federal Reserve Bank liability; payment of compensation. (a) Damages. In connection with its handling of a payment order under this subpart, a Federal Reserve Bank shall not be liable to a sender, receiving bank, beneficiary, or other Federal Reserve Bank, governed by this subpart, for any damages other than those payable under Article 4A. A Federal Reserve Bank shall not agree to be liable to a sender, receiving bank, beneficiary, or other Federal Reserve Bank for consequential damages under section 4A-305(d) of Article 4A. (b) Payment of compensation. (1) A Federal Reserve Bank shall satisfy its obligation, or that of another Federal Reserve Bank, to pay compensation in the form of interest under Article 4A by paying such compensation in the form of interest to a sender, receiving bank, beneficiary, or another party to the funds transfer that is entitled to such payment in an amount that is calculated in accordance with section 4A-506 of Article 4A. (2) If the sender or receiving bank that is the recipient of the payment of compensation is not the party entitled to compensation under Article 4A, the sender or receiving bank shall pass through the benefit of the compensation by making an interest payment, as of the day the compensation was paid by the Federal Reserve Bank, to the party entitled to compensation. The interest payment that is made to the party entitled to compensation shall not be less than the value of the compensation that was paid by the Federal Reserve Bank to the sender or receiving bank. The party entitled to compensation may agree to accept compensation in a form other than a direct interest payment, provided that such an alternative form of compensation is not less than the value of the interest payment that otherwise would be made. (c) Nonwaiver of right of recovery. Nothing in this subpart or any Operating Circular issued hereunder shall constitute, or be construed as constituting, a waiver by a Federal Reserve Bank of a cause of action for recovery under any applicable law of mistake and restitution. [55 FR 40801, Oct. 5, 1990, as amended by Reg. J, 77 FR 21859, Apr. 12, 2012; 83 FR 61517, Nov. 30, 2018; 87 FR 34359, June 6, 2022] Sec. Appendix A to Subpart B of Part 210--Commentary The Commentary provides background material to explain the intent of the Board of Governors of the Federal Reserve System (Board) in adopting a particular provision in the subpart and to help readers interpret that provision. In some comments, examples are offered. The Commentary constitutes an official Board interpretation of subpart B of this part. Commentary is not provided for every provision of subpart B of this part, as some provisions are self-explanatory. Section 210.25--Authority, Purpose, and Scope (a) Authority and purpose. Section 210.25(a) states that the purpose of subpart B of this part is to provide rules to govern funds transfers through the Fedwire Funds Service and recites the Board's rulemaking authority for this subpart. Subpart B of this part is [[Page 283]] Federal law and is not a ``funds-transfer system rule'' as defined in section 4A-501(b) of Article 4A, Funds Transfers, of the Uniform Commercial Code (UCC), as set forth in appendix A of this part. Certain provisions of Article 4A may not be varied by a funds-transfer system rule, but under section 4A-107, regulations of the Board and operating circulars of the Federal Reserve Banks supersede inconsistent provisions of Article 4A to the extent of the inconsistency. In addition, regulations of the Board may preempt inconsistent provisions of state law. Accordingly, subpart B of this part supersedes or preempts inconsistent provisions of state law. It does not affect state law governing funds transfers that does not conflict with the provisions of subpart B of this part, such as Article 4A as enacted in any state, as such state law may apply to parties to funds transfers through the Fedwire Funds Service whose rights and obligations are not governed by subpart B of this part. (b) Scope. (1) Subpart B of this part incorporates the provisions of Article 4A set forth in appendix A of this part. The provisions set forth expressly in the sections of subpart B of this part supersede or preempt any inconsistent provisions of Article 4A as set forth in appendix A of this part or as enacted in any state. The official comments to Article 4A are not incorporated in subpart B of this part or this commentary to subpart B of this part, but the official comments may be useful in interpreting Article 4A as set forth in appendix A of this part. Because section 4A-105 refers to other provisions of the Uniform Commercial Code (e.g., definitions in article 1 of the UCC), these other provisions of the UCC, as approved by the National Conference of Commissioners on Uniform State Laws, which is now also known as the Uniform Law Commission, and the American Law Institute, from time to time, are also incorporated into subpart B of this part. Subpart B of this part applies to any party to a funds transfer over the Fedwire Funds Service that is in privity with a Federal Reserve Bank. These parties include a sender (bank or nonbank) that sends a payment order directly to a Federal Reserve Bank, a receiving bank that receives a payment order directly from a Federal Reserve Bank, and a beneficiary that receives credit to an account that it uses or maintains at a Federal Reserve Bank as payment for a payment order accepted by a Federal Reserve Bank. Other parties to a funds transfer over the Fedwire Funds Service are covered by subpart B of this part to the same extent subpart B would apply to them if subpart B were a ``funds-transfer system rule'' under Article 4A that selected subpart B of this part as the governing law. (2) The scope of the applicability of a funds-transfer system rule under Article 4A is specified in section 4A-501(b), and the scope of the choice of law provision is specified in section 4A-507(c). Under section 4A-507(c), a choice of law provision is binding on the participants in a funds-transfer system and certain other parties having notice that the funds-transfer system might be used for the funds transfer and of the choice of law provision. The Uniform Commercial Code provides that a person has notice of a fact when the person has actual knowledge of it, receives a notice or notification of it, or has reason to know that it exists from all the facts and circumstances known to the person at the time in question. (See UCC section 1-202.) However, under sections 4A- 507(b) and 4A-507(d), a choice of law by agreement of the parties takes precedence over a choice of law made by funds-transfer system rule. (3) If originators, receiving banks, and beneficiaries that are not in privity with a Federal Reserve Bank have the notice contemplated by section 4A-507(c) or if those parties agree to be bound by subpart B of this part, subpart B of this part generally would apply to payment orders between those remote parties, including participants in other funds-transfer systems. For example, a payment order may be sent from an originator's bank through a funds-transfer system other than the Fedwire Funds Service to a receiving bank which, in turn, executes that payment order by sending a payment order through the Fedwire Funds Service. Similarly, a Federal Reserve Bank may send a payment order through the Fedwire Funds Service to a receiving bank that sends it through a funds- transfer system other than the Fedwire Funds Service to the beneficiary's bank. In the first example, if the originator's bank has notice that the Fedwire Funds Service may be used to effect part of the funds transfer, the sending of the payment order through the other funds-transfer system to the receiving bank will be governed by subpart B of this part unless the parties to the payment order have agreed otherwise. In the second example, if the beneficiary's bank has notice that the Fedwire Funds Service may be used to effect part of the funds transfer, the sending of the payment order to the beneficiary's bank through the other funds-transfer system will be governed by subpart B of this part unless the parties have agreed otherwise. In both cases, the other funds-transfer system's rules would also apply to, at a minimum, the portion of these funds transfers being made through that funds transfer system. Because subpart B of this part is Federal law, subpart B of this part will take precedence over any funds-transfer system rule applicable to the remote sender or receiving bank or to a Federal Reserve Bank to the extent of any inconsistency. If remote parties to a funds transfer, a portion of which is sent through the Fedwire Funds Service, have expressly selected by agreement, in accordance with [[Page 284]] section 4A-507(b), a law other than subpart B of this part, subpart B of this part would not take precedence over the choice of law made by the agreement even though the remote parties had notice that the Fedwire Funds Service might be used and of the governing law. (See section 4A- 507(d).) In addition, subpart B of this part would not apply to a funds transfer sent through another funds-transfer system where no Federal Reserve Bank handles the funds transfer, even though settlement for the funds transfer is made by means of a separate net settlement or funds transfer through the Fedwire Funds Service. (4) Under section 4A-108, Article 4A does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act (EFTA) (15 U.S.C. 1693 et seq.). In general, Fedwire funds transfers to or from consumer accounts are exempt from the EFTA and Regulation E (12 CFR part 1005). A funds transfer from a consumer originator or a funds transfer to a consumer beneficiary could be carried out in part through the Fedwire Funds Service and in part through an automated clearinghouse or other means that is subject to the EFTA or Regulation E. In these cases, subpart B would not govern the portion of the funds transfer that is governed by the EFTA or Regulation E. (See the commentary to Sec. 210.26 in this appendix, ``Payment Order''.) (5) Section 919 of the EFTA, however, governs ``remittance transfers,'' which may include funds transfers over the Fedwire Funds Service. Section 919 of the EFTA sets out the obligations of remittance transfer providers with respect to consumer senders of remittance transfers. Section 919 of the EFTA generally does not affect the rights and obligations of financial institutions involved in a remittance transfer. To the extent that a Fedwire funds transfer is a ``remittance transfer'' governed by section 919 of the EFTA, it continues to be governed by subpart B of this part, except that, in the event of an inconsistency between the provisions of subpart B of this part and section 919 of the EFTA, section 919 of the EFTA shall prevail. For example, a consumer may initiate a remittance transfer governed by EFTA section 919 from the consumer's account at a depository institution, and the depository institution may initiate that transfer by sending a payment order to a Federal Reserve Bank through the Fedwire Funds Service. If the consumer subsequently exercised the right to cancel the remittance transfer and obtain a refund under the terms of section 919 of the EFTA, the depository institution would be required to comply with section 919 even if the institution does not have a right to reverse the payment order sent to the Federal Reserve Bank under subpart B of this part. (6) Finally, section 4A-404(a) provides that a beneficiary's bank is obliged to pay the amount of a payment order to the beneficiary on the payment date unless acceptance of the payment order occurs on the payment date after the close of the funds-transfer business day of the bank. The Expedited Funds Availability Act provides that funds received by a bank by wire transfer shall be available for withdrawal not later than the business day after the business day on which such funds are received (12 U.S.C. 4002(a)). That act also preempts any provision of state law that was not effective on September 1, 1989, that is inconsistent with that act or its implementing Regulation CC (12 CFR part 229). Accordingly, the Expedited Funds Availability Act and Regulation CC may preempt section 4A-404(a) as enacted in any state. In order to ensure that section 4A-404(a), or other provisions of Article 4A, as incorporated in subpart B of this part, do not take precedence over provisions of the Expedited Funds Availability Act, this section 210.25(b)(4) provides that where subpart B of this part establishes rights or obligations that are also governed by the Expedited Funds Availability Act or Regulation CC, the Expedited Funds Availability Act or Regulation CC provision shall apply and subpart B of this part shall not apply. (c) Operating Circulars. The Federal Reserve Banks issue Operating Circulars consistent with this subpart that contain additional provisions applicable to payment orders and other messages sent through the Fedwire Funds Service. Under section 4A-107, these Operating Circulars supersede inconsistent provisions of Article 4A, both as set forth in appendix A of this part and as enacted in any state. These Operating Circulars are not funds-transfer system rules, but, by their terms, they are binding on all parties covered by this subpart. (d) Government senders, receiving banks, and beneficiaries. This section clarifies that unless a statute of the United States provides otherwise, subpart B of this part applies to governmental entities, domestic or foreign, including foreign central banks as specified in paragraph (b)(1) of this section. (e) Financial messaging standards. This paragraph makes clear that financial messaging standards, including the financial messaging components, elements, technical documentation, tags, and terminology used to implement those standards, do not confer or connote legal status or responsibilities. Instead, subpart B of this part and Federal Reserve Bank operating circulars govern the rights and obligations of parties to funds transfers sent through the Fedwire Funds Service as provided in Sec. 210.25(b). Thus, to the extent there is any inconsistency between a financial messaging standard adopted by the Fedwire Funds Service and subpart B of this part, subpart B of this part, including Article 4A as adopted in appendix B to subpart B of this part, will prevail. In the ISO 20022 financial messaging standard, for example, the [[Page 285]] term agent is used to refer to a variety of bank parties to a funds transfer (e.g., debtor agent, creditor agent, intermediary agent). Notwithstanding use of that term in the standard and in message tags, such banks are not the agents of any party to a funds transfer and owe no duty to any other party to such a funds transfer except as provided in subpart B of this part (including Article 4A) or by express agreement. The ISO 20022 financial messaging standard also permits information to be carried in a funds-transfer message regarding persons that are not parties to that funds transfer (e.g., ultimate debtor, ultimate creditor, initiating party) for regulatory, compliance, remittance, or other purposes. An ``ultimate debtor'' is not an ``originator'' as defined in Article 4A. The relationship between the ultimate debtor and the originator (what the ISO 20022 standard calls the ``debtor'') is determined by law other than Article 4A. Section 210.26--Definitions Article 4A defines many terms (e.g., beneficiary, intermediary bank, receiving bank, security procedure) used in subpart B of this part. These terms are defined or listed in sections 4A-103 through 4A-105. These terms, such as the term bank (defined in section 4A-105(d)(2)), may differ from comparable terms in subpart A and subpart C of this part. As subpart B of this part incorporates consistent provisions of Article 4A, it incorporates these definitions unless these terms are expressly defined otherwise in subpart B of this part. Subpart B modifies the definitions of five Article 4A terms, beneficiary, beneficiary's bank, payment order, receiving bank, and sender. Subpart B also defines terms not defined in Article 4A. Article 4A. Article 4A means the version of that article of the Uniform Commercial Code set forth in appendix A of this part. It does not refer to the law of any particular state unless the context indicates otherwise. Subject to the express provisions of this subpart, this version of Article 4A is incorporated into this subpart and made Federal law for transactions covered by subpart B of this part. (See Sec. 210.25(b)(1) and accompanying commentary.) Because section 4A-105 refers to other provisions of the Uniform Commercial Code (e.g., definitions in article 1 of the UCC), these other provisions of the UCC, as approved by the National Conference of Commissioners on Uniform State Laws, which is now also known as the Uniform Law Commission, and the American Law Institute, from time to time, are also incorporated into subpart B of this part. Beneficiary, beneficiary's bank, receiving bank, and sender. The definitions of ``beneficiary,'' ``beneficiary's bank,'' ``receiving bank,'' and ``sender'' in subpart B of this part differ from the definitions in sections 4A-103(a)(2) through (4). The subpart B definitions clarify that, for the purposes of subpart B of this part, these terms are limited to parties in a funds transfer that is sent through the Fedwire Funds Service. For example, the parties to a funds transfer that is sent through the FedNow Service would be governed by subpart C of this part, and would not be a ``beneficiary,'' ``beneficiary's bank,'' ``receiving bank,'' or ``sender'' governed by subpart B of this part. The subpart B definition of ``beneficiary's bank'' further clarifies that where a Federal Reserve Bank functions as the beneficiary's bank, it need not be identified in the payment order as the beneficiary's bank and that a Federal Reserve Bank that receives a payment order as beneficiary is also the beneficiary's bank with respect to that payment order. Fedwire Funds Service. This term refers to the funds-transfer system owned and operated by the Federal Reserve Banks that is governed by this subpart. The term does not refer to any particular computer, telecommunications facility, or funds transfer, but rather to the system as a whole, which may include transfers by telephone or by written instrument in particular circumstances. The term does not include the FedNow Service or the system used for automated clearing house transfers. Off-line bank. Most Fedwire payment orders are sent electronically from a sender to a Federal Reserve Bank or from a Federal Reserve Bank to a receiving bank. Banks that send payment orders to Federal Reserve Banks electronically are often referred to as on-line banks. Some Fedwire Funds Service participants, however, send payment orders to a Federal Reserve Bank or receive payment orders from a Federal Reserve Bank orally by telephone or, in unusual circumstances, in writing. A bank that does not use either a terminal or a computer that links it electronically to a terminal or computer at its Federal Reserve Bank to send payment orders through the Fedwire Funds Service is an off-line bank. Payment Order. (1) The definition of ``payment order'' in subpart B of this part differs from the section 4A-103(a)(1) definition. The subpart B definition clarifies that, for the purposes of subpart B of this part, the term includes only instructions transmitted through the Fedwire Funds Service. For example, instructions transmitted through the FedNow Service would be governed by subpart C of this part, and not subpart B of this part. Additionally, the subpart B definition provides that certain messages that are transmitted through the Fedwire Funds Service are not payment orders. Federal Reserve Banks and banks participating in the Fedwire Funds Service send various types of messages relating to payment orders or to other matters, through the Fedwire Funds Service, that are not intended to be payment [[Page 286]] orders. In some cases, messages sent through the Fedwire Funds Service, such as certain requests for credit transfer, may be payment orders under Article 4A, but are not treated as payment orders under subpart B because they are not an instruction to a Federal Reserve Bank to pay or cause another bank to pay money. Under the subpart B definition, these messages are not ``payment orders'' governed by subpart B of this part. The operating circulars of the Federal Reserve Banks may specify those messages that may be transmitted through the Fedwire Funds Service but that are not payment orders. (2) Subpart B of this part, including its incorporation of Article 4A, governs a payment order even though the originator's or beneficiary's account may be a consumer account established primarily for personal, family, or household purposes. Under section 4A-108, Article 4A does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act. That act and Regulation E (12 CFR part 1005) implementing it do not apply to funds transfers through the Fedwire Funds Service (see 15 U.S.C. 1693a(7)(B) and 12 CFR 1005.3(c)(3)), except that section 919 of the Electronic Fund Transfer Act may govern a Fedwire funds transfer that is a ``remittance transfer.'' Such remittance transfers that are Fedwire funds transfers continue to be governed by subpart B. Thus, subpart B applies to all funds transfers through the Fedwire Funds Service even though some such transfers involve originators or beneficiaries who are consumers. (See also Sec. 210.25(b) and accompanying commentary.) Section 210.27--Reliance on Identifying Number (a) Reliance by a Federal Reserve Bank on number to identify intermediary bank or beneficiary's bank. Section 4A-208 provides that a receiving bank, such as a Federal Reserve Bank, may rely on the routing number of an intermediary bank or the beneficiary's bank specified in a payment order as identifying the appropriate intermediary bank or beneficiary's bank, even if the payment order identifies another bank by name, provided that the receiving bank does not know of the inconsistency. Under section 4A-208(b)(2), if the sender of the payment order is not a bank, a receiving bank may rely on the number only if the sender had notice before the receiving bank accepted the sender's order that the receiving bank might rely on the number. This section provides this notice to entities that are not banks, such as the Department of the Treasury, that send payment orders directly to a Federal Reserve Bank. (b) Reliance by a Federal Reserve Bank on number to identify beneficiary. Section 4A-207 provides that a beneficiary's bank, such as a Federal Reserve Bank, may rely on the number identifying a beneficiary, such as the beneficiary's account number, specified in a payment order as identifying the appropriate beneficiary, even if the payment order identifies another beneficiary by name, provided that the beneficiary's bank does not know of the inconsistency. Under section 4A- 207(c)(2), if the originator is not a bank, an originator is not obliged to pay for a payment order if the originator did not have notice that the beneficiary's bank might rely on the identifying number and the person paid on the basis of the identifying number was not entitled to receive payment. This section of subpart B provides this notice to entities that are not banks, such as the Department of the Treasury, that are originators of payment orders sent directly by the originators to a Federal Reserve Bank, where that Federal Reserve Bank or another Federal Reserve Bank is the beneficiary's bank (see also section 4A- 402(b), providing that a sender must pay a beneficiary's bank for a payment order accepted by the beneficiary's bank). Section 210.28--Agreement of Sender (a) Payment of sender's obligation to a Federal Reserve Bank. When a sender sends a payment order to a Federal Reserve Bank and the Federal Reserve Bank accepts the payment order by issuing a conforming order executing the sender's payment order, under section 4A-402 the sender is indebted to the Federal Reserve Bank for the amount of the payment order. Section 4A-403 specifies the various methods by which a sender may settle the obligation under section 4A-402. With respect to a payment order sent through the Fedwire Funds Service, the obligation of a sender (other than a Federal Reserve Bank) is settled by a debit to the account of the sender at a Federal Reserve Bank. Section 210.28(a) provides that a sender, other than a Federal Reserve Bank, that maintains or uses an account at a Federal Reserve Bank authorizes the Federal Reserve Bank to debit that account so that the Federal Reserve Bank can obtain payment for the payment order. (b) Overdrafts. (1) In some cases, debits to a sender's account will create an overdraft in the sender's account. The Board and the Federal Reserve Banks have established policies concerning when a Federal Reserve Bank will permit a bank to incur an overdraft in its account at a Federal Reserve Bank. These policies do not give a bank or other sender a right to an overdraft in its account. Subpart B clarifies that a sender does not have a right to such an overdraft. If an overdraft arises, it becomes immediately due and payable at the earliest of the following times: The end of the Fedwire Funds Service funds-transfer business day; the time the Federal Reserve Bank, in its sole discretion, deems itself insecure and gives notice to the sender; [[Page 287]] or the time that the sender suspends payments or is closed by governmental action, such as the appointment of a receiver. In some cases, a Federal Reserve Bank extends its Fedwire Funds Service operations beyond the standard cut-off time for that funds-transfer business day. For the purposes of this section, unless otherwise specified by the Federal Reserve Bank making such an extension, an overdraft becomes due and payable at the end of the extended operating hours. An overdraft becomes due and payable prior to a Federal Reserve Bank's cut-off time if the Federal Reserve Bank deems itself insecure and gives notice to the sender. A Federal Reserve Bank that deems itself insecure may give such notice in accordance with the provisions on notice in section 1-202(d) of the UCC, in accordance with any other applicable law or agreement, or by any other reasonable means. An overdraft also becomes due and payable at the time that a bank is closed or suspends payments. For example, an overdraft becomes due and payable if a receiver is appointed for the bank or the bank is prevented from making payments by governmental order. The Federal Reserve Bank need not make demand on the sender for the overdraft to become due and payable. (2) A sender must cover any overdraft and any other obligation of the sender to the Federal Reserve Bank by the time the overdraft becomes due and payable. By sending a payment order to a Federal Reserve Bank, the sender grants a security interest to the Federal Reserve Bank in all of the assets of the sender possessed or controlled by, or held for the account of, the Federal Reserve Bank in order to secure all obligations due or to become due to the Federal Reserve Bank. The security interest attaches when the overdraft, or other obligation of the sender to the Federal Reserve Bank, becomes due and payable. The security interest does not apply to assets held by the sender as custodian or trustee for the sender's customers or third parties. Once an overdraft is due and payable, a Federal Reserve Bank may exercise its right of setoff, liquidate collateral, or take other similar action to satisfy the obligation the sender owes to the Federal Reserve Bank. (c) Review of payment orders. (1) Under section 4A-204, a receiving bank is required to refund the principal amount of an unauthorized payment order that the sender was not obliged to pay, together with interest on the refundable amount calculated from the date that the receiving bank received payment to the date of the refund. The sender is not entitled to compensation in the form of interest if the sender fails to exercise ordinary care to determine that the order was not authorized and to notify the receiving bank within a reasonable period of time after the sender receives a notice that the payment order was accepted or that the sender's account was debited with respect to the order. Similarly, under section 4A-304, if a sender of a payment order that was erroneously executed does not notify the bank receiving the payment order within a reasonable time, the bank is not liable to the sender for compensation in the form of interest on any amount refundable to the sender. Section 210.28(c) establishes 30 calendar days as the reasonable period of time for the purposes of these provisions of Article 4A. (2) Section 4A-505 provides that, in order for a customer to assert a claim objecting to a debit to its account by a receiving bank, the customer must notify the receiving bank of its objection within one year after the customer received notification reasonably identifying the payment order. Subpart B of this part does not vary this one-year claim preclusion period. Section 210.29--Agreement of Receiving Bank (b) Off-line banks. (1) Generally, an on-line bank receiving payment orders or advices of credit for payment orders from a Federal Reserve Bank receives the payment orders or advices electronically a short time after the corresponding payment orders are received by the on-line bank's Federal Reserve Bank. An off-line bank receiving payment orders or advices of credit from a Federal Reserve Bank does not have an electronic connection with the Federal Reserve Bank; therefore, payment orders or advices are transmitted either by telephone on the day the payment order is received by the receiving bank's Federal Reserve Bank, or sent by courier or mail along with the off-line bank's daily account statement, on the funds-transfer business day following the day the payment order is received by the off-line bank's Federal Reserve Bank. (2) Under section 4A-302(a)(2), a Federal Reserve Bank must transmit payment orders at a time and by means reasonably necessary to allow payment to the beneficiary on the payment date, or as soon thereafter as is feasible. Therefore, where an off-line receiving bank is an intermediary bank or beneficiary's bank in a payment order, its Federal Reserve Bank attempts to transmit the payment order to the off-line bank by telephone on the day the payment order is received by the Federal Reserve Bank. A Federal Reserve Bank can generally identify these payment orders from the type code designated in the payment order. (3) Under section 4A-404(b), if a payment order instructs payment to the account of the beneficiary, the beneficiary's bank must notify the beneficiary of the receipt of a payment order before midnight of the next funds-transfer business day following the payment date. Where an off-line bank is the beneficiary of a payment order, telephone notice by a Federal Reserve Bank to the off-line bank of the receipt of the order is not [[Page 288]] required by Article 4A because the Federal Reserve Bank sends notice to the off-line bank by courier or mail, along with its daily account statement, on the day after the payment order is received by its Federal Reserve Bank. Payment orders for which an off-line bank is the beneficiary of the order are generally designated as settlement transactions. (4) If an off-line receiving bank maintains an account for another bank, the off-line bank may receive payment orders designated as settlement transactions in its capacity as beneficiary's bank or intermediary bank. A Federal Reserve Bank cannot readily distinguish these payment orders from settlement transactions for which the off-line bank is the beneficiary of the order. If an off-line bank notifies its Federal Reserve Bank that it maintains an account for another bank, the Federal Reserve Bank will attempt to telephone the off-line bank with respect to all settlement transactions received by such bank, whether the off-line bank is the beneficiary, the beneficiary's bank, or an intermediary bank in the payment order. Under this section, an off-line bank that does not expressly notify its Federal Reserve Bank in writing that it maintains an account for another bank warrants to that Federal Reserve Bank that it does not act as an intermediary bank or a beneficiary's bank for a bank beneficiary with respect to payment orders received through Fedwire. Section 210.30--Payment Orders (a) Rejection. (1) A sender must make arrangements with its Federal Reserve Bank before it can send payment orders to the Federal Reserve Bank. Federal Reserve Banks reserve the right to reject or impose conditions on the acceptance of payment orders for any reason. For example, a Federal Reserve Bank might reject or impose conditions on accepting a payment order where a sender does not have sufficient funds in its account with the Federal Reserve Bank to cover the amount of the sender's payment order and other obligations of the sender due or to become due to the Federal Reserve Bank. A Federal Reserve Bank may require a sender to execute a written agreement concerning security procedures or other matters before the sender may send payment orders to the Federal Reserve Bank. (b) Selection of an intermediary bank. (1) Under section 4A-302, if a receiving bank (other than a beneficiary's bank), such as a Federal Reserve Bank, accepts a payment order, it must issue a payment order that complies with the sender's order. The sender's order may include instructions concerning an intermediary bank to be used that must be followed by a receiving bank (see section 4A-302(a)(1)). If the sender does not designate any intermediary bank in its payment order, the receiving bank may select an intermediary bank through which the sender's payment order can be expeditiously issued to the beneficiary's bank so long as the receiving bank exercises ordinary care in selecting the intermediary bank (see section 4A-302(b)). (2) This section provides that in an interdistrict transfer, a Federal Reserve Bank is authorized and directed to select another Federal Reserve Bank as an intermediary bank. A sender may, however, instruct a Federal Reserve Bank to use a particular intermediary bank by designating that bank as the bank to be credited by that Federal Reserve Bank (or the second Federal Reserve Bank in the case of an interdistrict transfer) in its payment order, in which case the Federal Reserve Bank will send the payment order to that bank if that bank receives payment orders through the Fedwire Funds Service. A sender may not instruct a Federal Reserve Bank to use its discretion to select an intermediary bank other than a Federal Reserve Bank or an intermediary bank designated by the sender. In addition, a sender may not send a payment order through the Fedwire Funds Service that instructs a Federal Reserve Bank to use a funds-transfer system or means of transmission other than the Fedwire Funds Service unless the sender and the Federal Reserve Bank agree in writing to the use of that funds-transfer system or means of transmission. (c) Execution date and payment date. Generally, the Fedwire Funds Service is a same-day value transfer system through which funds may be transferred from the originator to the beneficiary on the same funds- transfer business day. A sender may not send a payment order to a Federal Reserve Bank that specifies an execution date or payment date later than the day on which the payment order is issued, unless the sender of the order and the Federal Reserve Bank agree in writing to the arrangement. Section 210.31--Payment by a Federal Reserve Bank to a Receiving Bank or Beneficiary (a) Payment to a receiving bank. (1) Under section 4A-402, when a Federal Reserve Bank executes a sender's payment order by issuing a conforming order to a receiving bank that accepts the payment order, the Federal Reserve Bank must pay the receiving bank the amount of the payment order. Section 210.29(a) authorizes a Federal Reserve Bank to make the payment by crediting the account at the Federal Reserve Bank maintained or used by the receiving bank. Section 210.31(a) provides that the payment occurs when the receiving bank's account is credited or when the payment order is sent by the Federal Reserve Bank to the receiving bank, whichever is earlier. Ordinarily, payment will occur during the funds-transfer business day a short time after the payment [[Page 289]] order is received, even if the receiving bank is an off-line bank. This credit is final and irrevocable when made and constitutes final settlement under section 4A-403. Payment does not waive a Federal Reserve Bank's right of recovery under the applicable law of mistake and restitution (see Sec. 210.32(c)), affect a Federal Reserve Bank's right to apply the funds to any obligation due or to become due to the Federal Reserve Bank, or affect legal process or claims by third parties on the funds. (2) This section on final payment does not apply to settlement for payment orders between Federal Reserve Banks. These payment orders are settled by other means. (b) Payment to a beneficiary. Section 210.31(b) specifies when a Federal Reserve Bank makes payment to a beneficiary for which it is the beneficiary's bank. As in the case of payment to a receiving bank, this payment occurs at the earlier of the time that the Federal Reserve Bank credits the beneficiary's account or sends notice of the credit to the beneficiary, and is final and irrevocable when made. Section 210.32--Federal Reserve Bank Liability; Payment of Compensation (a) Damages. (1) Under section 4A-305(d), damages for failure of a receiving bank to execute a payment order that it was obligated to execute by express agreement are limited to expenses in the transaction and incidental expenses and interest and do not include additional damages, including consequential damages, unless they are provided for in an express written agreement of the receiving bank. This section clarifies that in connection with the handling of payment orders, Federal Reserve Banks may not agree to be liable for consequential damages under this provision and shall not be liable for damages other than those that may be due under Article 4A to parties governed by this subpart. Any agreement in conflict with these provisions would not be effective, because it would be in violation of subpart B. (2) This section does not affect the ability of other parties to a funds transfer to agree to be liable for consequential damages, the liability of a Federal Reserve Bank under section 4A-404 (relating to obligation of beneficiary's bank to pay and give notice to beneficiary), or the liability to parties governed by subpart B for claims not based on the handling of a payment order under subpart B. (b) Payment of compensation. (1) Under article 4A, a Federal Reserve Bank may be required to pay compensation in the form of interest to another party in connection with its handling of a funds transfer. For example, payment of compensation in the form of interest is required in certain situations pursuant to sections 4A-204 (relating to refund of payment and duty of customer to report with respect to unauthorized payment order), 4A-209 (relating to acceptance of payment order), 4A-210 (relating to rejection of payment order), 4A-304 (relating to duty of sender to report erroneously executed payment order), 4A-305 (relating to liability for late or improper execution or failure to execute a payment order), 4A-402 (relating to obligation of sender to pay receiving bank), and 4A-404 (relating to obligation of beneficiary's bank to pay and give notice to beneficiary). (2) Section 210.32(b) requires Federal Reserve Banks to provide compensation through payment in the form of interest. Under section 4A- 506(a), the amount of such interest may be determined by agreement between the sender and receiving bank or by funds-transfer system rule. If there is no such agreement, under section 4A-506(b), the amount of interest is based on the Federal funds rate. Similarly, compensation in the form of interest will be paid to government senders, receiving banks, or beneficiaries described in Sec. 210.25(d) if they are entitled to interest under subpart B. A Federal Reserve Bank may also, in its discretion, pay compensation in the form of interest directly to a remote party to a Fedwire funds transfer that is entitled to interest, rather than providing compensation to its sender or receiving bank. (3) If a sender or receiving bank that received a payment of compensation is not the party entitled to compensation under Article 4A, the sender or receiving bank must pass the benefit of the payment made to it to the party that is entitled to compensation. The benefit may be passed on either in the form of a direct payment of interest or in the form of a compensating balance if the party entitled to interest agrees to accept the other form of compensation. In the latter case, the value of the compensating balance must be at least equivalent to the value of the interest payment that otherwise would have been provided. (c) Nonwaiver of right of recovery. Several sections of Article 4A allow a party to a funds transfer to make a claim pursuant to the applicable law of mistake and restitution. Nothing in subpart B of this part or any operating circular issued in accordance with subpart B of this part waives any such claim by a Federal Reserve Bank. A Federal Reserve Bank, however, may waive such a claim by express written agreement in order to settle litigation or for other purposes. [55 FR 40801, Oct. 5, 1990; 55 FR 47428, Nov. 13, 1990, as amended by Reg. J, 77 FR 21859, Apr. 12, 2012; 83 FR 61517, 61522, Nov. 30, 2018; 87 FR 34359, June 6, 2022] [[Page 290]] Subpart C_Funds Transfers Through the FedNow Service Source: Reg. J, 87 FR 34362, June 6, 2022, unless otherwise noted. Sec. 210.40 Authority, purpose, and scope. (a) Authority and purpose. This subpart provides rules to govern funds transfers through the FedNow Service, and has been issued pursuant to the Federal Reserve Act--section 13 (12 U.S.C. 342), paragraph (f) of section 19 (12 U.S.C. 464), paragraph 14 of section 16 (12 U.S.C. 248(o)), and paragraphs (i) and (j) of section 11 (12 U.S.C. 248(i) and (j))--and other laws and has the force and effect of Federal law. This subpart is not a funds-transfer system rule as defined in Section 4A- 501(b) of Article 4A. (b) Scope. (1) This subpart incorporates the provisions of Article 4A set forth in appendix A of this part. In the event of an inconsistency between the provisions of the sections of this subpart and appendix A of this part, the provisions of the sections of this subpart shall prevail. (2) Except as otherwise provided in paragraphs (b)(3) and (4) of this section, this subpart, including Article 4A as incorporated herein and operating circulars of the Federal Reserve Banks issued in accordance with paragraph (c) of this section, governs the rights and obligations of the following parties with respect to the FedNow Service: (i) Federal Reserve Banks that send or receive payment orders; (ii) Senders that send payment orders directly to a Federal Reserve Bank; (iii) Receiving banks that receive payment orders directly from a Federal Reserve Bank; (iv) Beneficiaries that receive payment for payment orders by means of credit to the beneficiary's settlement account; and (v) Other parties to a funds transfer any part of which is carried out through the FedNow Service to the same extent as if this subpart were considered a funds-transfer system rule under Article 4A. (3) A Federal Reserve Bank that is not the sender's Federal Reserve Bank, receiving bank's Federal Reserve Bank, or beneficiary's Federal Reserve Bank is not a party to the funds transfer for purposes of this subpart and Article 4A. (4) This subpart governs a funds transfer that is sent through the FedNow Service, even if a portion of the funds transfer is governed by the Electronic Fund Transfer Act, but in the event of an inconsistency between the provisions this subpart and the Electronic Fund Transfer Act, the Electronic Fund Transfer Act shall prevail to the extent of the inconsistency. (c) Operating Circulars. Each Federal Reserve Bank shall issue an Operating Circular consistent with this subpart that governs the details of its funds-transfer operations in connection with the FedNow Service and other matters it deems appropriate. Among other things, the Operating Circular may: set cut-off times and funds-transfer business days; address security procedures offered by the Federal Reserve Banks to verify the authenticity of a payment order; specify format and media requirements for payment orders; specify the time and method of receipt, execution, and acceptance of a payment order and settlement of a Federal Reserve Bank's payment obligation for purposes of Article 4A; prescribe time limits for the processing of payment orders; specify service terms governing ancillary features of the FedNow Service; provide for the acceptance of documents in electronic form to the extent any provision in Article 4A requires an agreement or other document to be in writing; identify messages that are not payment orders; and impose charges for funds-transfer services. (d) Government senders, receiving banks, and beneficiaries. Except as otherwise expressly provided by the statutes of the United States, the parties specified in paragraphs (b)(2)(ii) through (v) of this section include a department, agency, instrumentality, independent establishment, or office of the United States, or a wholly-owned or controlled government corporation. (e) Financial messaging standards. Financial messaging standards (e.g., ISO 20022), including the financial messaging components, elements, technical documentation, tags, and terminology used to implement those standards, do not confer or connote legal status or responsibilities. This subpart, [[Page 291]] including Article 4A as incorporated herein, and the operating circulars of the Federal Reserve Banks issued in accordance with paragraph (c) of this section govern the rights and obligations of parties to funds transfers sent through the FedNow Service as provided in paragraph (b) of this section. To the extent there is any inconsistency between a financial messaging standard adopted by the Federal Reserve Banks for the FedNow Service and this subpart, this subpart shall prevail. Sec. 210.41 Definitions. As used in this subpart, the following definitions apply: Article 4A means Article 4A of the Uniform Commercial Code as set forth in appendix A of this part, which is incorporated into this subpart in accordance with Sec. 210.40(b). Beneficiary has the same meaning as in Article 4A, except that the term is limited to a beneficiary in a funds transfer that is sent through the FedNow Service. Beneficiary's bank has the same meaning as in Article 4A, except that: (1) The term is limited to a beneficiary's bank in a funds transfer that is sent through the FedNow Service; (2) A Federal Reserve Bank need not be identified in the payment order in order to be the beneficiary's bank; and (3) The term includes a Federal Reserve Bank when that Federal Reserve Bank is the beneficiary of a payment order. Federal Reserve Bank with respect to an entity means the Federal Reserve Bank in whose District the entity is located, as determined under the procedure described in Part 204 of this chapter (Regulation D), even if the entity is not otherwise subject to that section, or, if the entity maintains an account on the books of a different Federal Reserve Bank, the Federal Reserve Bank at which the entity maintains an account. FedNow Service means the funds-transfer system owned and operated by the Federal Reserve Banks to support instant payments that is used primarily for the transmission and settlement of payment orders governed by this subpart. The FedNow Service does not include the Fedwire Funds Service. Interdistrict transfer means a funds transfer involving entries to settlement accounts maintained at two Federal Reserve Banks. Payment order has the same meaning as in Article 4A, except that the term includes only instructions sent or received through the FedNow Service, and does not include automated clearing house transfers or any communication designated as not being a payment order in an Operating Circular issued by a Federal Reserve Bank under this subpart. Receiving bank has the same meaning as in Article 4A, except that the term is limited to a receiving bank in a funds transfer that is sent through the FedNow Service. Sender has the same meaning as in Article 4A, except that the term is limited to a sender in a funds transfer that is sent through the FedNow Service. Sender's settlement account, receiving bank's settlement account, and beneficiary's settlement account mean an account on the books of a Federal Reserve Bank maintained by the sender, receiving bank, or beneficiary, respectively. The term also includes any account on a Federal Reserve Bank's books used with respect to the FedNow Service by the sender, receiving bank, or beneficiary, respectively, by agreement with its Federal Reserve Bank, any other Federal Reserve Bank on whose books the settlement account is maintained, and the account-holder. Sec. 210.42 Reliance on identifying number. (a) Reliance by a Federal Reserve Bank on number to identify a beneficiary's bank. A Federal Reserve Bank that receives a payment order from a sender containing a number that identifies the beneficiary's bank may rely on the number, even if it identifies a bank different from the bank identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification. [[Page 292]] (b) Reliance by a Federal Reserve Bank on number to identify beneficiary. A Federal Reserve Bank, acting as a beneficiary's bank, that receives a payment order from a sender containing a number that identifies the beneficiary may rely on the number, even if it identifies a person different from the person identified by name in the payment order, if the Federal Reserve Bank does not know of such an inconsistency in identification. A Federal Reserve Bank has no duty to detect any such inconsistency in identification. Sec. 210.43 Agreement of sender. (a) Payment of sender's obligation to a Federal Reserve Bank. A sender (other than a Federal Reserve Bank), by maintaining or using a settlement account with a Federal Reserve Bank, authorizes the sender's Federal Reserve Bank to obtain payment for the sender's payment orders by debiting, or causing any other Federal Reserve Bank on whose books the settlement account is maintained to debit, the amount of the payment order from the settlement account. The sender remains responsible for payment if the Federal Reserve Bank on whose books the settlement account is maintained does not, for any reason, obtain payment by debiting that account. (b) Overdrafts. (1) A sender does not have the right to an overdraft in its settlement account. In the event an overdraft is created, the overdraft shall be due and payable immediately, without the need for a demand by the Federal Reserve Bank, at the earliest of the following times: (i) At the end of the FedNow funds-transfer business day; (ii) At the time the Federal Reserve Bank, in its sole discretion, deems itself insecure and gives notice thereof to the sender; or (iii) At the time the sender suspends payments or is closed. (2) The sender shall have in its settlement account, at the time the overdraft is due and payable, a balance of actually and finally collected funds sufficient to cover the aggregate amount of all its obligations to the Federal Reserve Bank, whether the obligations result from the acceptance of a payment order or otherwise. (3) To secure any overdraft, as well as any other obligation due or to become due to its Federal Reserve Bank, a sender, by sending a payment order to a Federal Reserve Bank that is accepted by the Federal Reserve Bank, grants to the Federal Reserve Bank a security interest in all of its assets in the possession or control of, or held for the account of, the Federal Reserve Bank. The security interest attaches when an overdraft, or any other obligation to the Federal Reserve Bank, becomes due and payable. (4) A Federal Reserve Bank may take any action authorized by law to recover the amount of an overdraft that is due and payable, including, but not limited to, the exercise of rights of set off, the realization on any available collateral, and any other rights it may have as a creditor under applicable law. (5) If a sender, other than a government sender described in Sec. 210.40(d), incurs an overdraft in its settlement account as a result of a debit to the account by a Federal Reserve Bank under paragraph (a) of this section, the settlement account will be subject to any applicable overdraft charges, regardless of whether the overdraft has become due and payable. A Federal Reserve Bank may debit the settlement account under paragraph (a) of this section immediately on acceptance of the payment order. (c) Review of payment orders. A sender, by sending a payment order to a Federal Reserve Bank, agrees that for the purposes of sections 4A- 204(a) and 4A-304 of Article 4A, a reasonable time to notify a Federal Reserve Bank of the relevant facts concerning an unauthorized or erroneously executed payment order is within 60 calendar days after the sender receives notice that the payment order was accepted or that the sender's settlement account was debited with respect to the payment order. Sec. 210.44 Agreement of receiving bank. (a) Payment. A receiving bank (other than a Federal Reserve Bank) that receives a payment order from its Federal Reserve Bank authorizes that Federal Reserve Bank to pay for the payment order by crediting, or causing any other Federal Reserve Bank on whose books the settlement account is [[Page 293]] maintained to credit, the amount of the payment order to the settlement account. (b) Funds availability. (1) A beneficiary's bank (other than a Federal Reserve Bank) that accepts a payment order over the FedNow Service is obliged to pay the amount of the order to the beneficiary of the order immediately after its acceptance of the payment order, by crediting an account of the beneficiary in accordance with section 4A- 405(a) of Article 4A. The rights and obligations with respect to the availability of funds are also governed by the Expedited Funds Availability Act and the Board's Regulation CC, Availability of Funds and Collection of Checks. (2) Nothing in paragraph (b)(1) of this section or any Operating Circular issued hereunder shall create any rights that the beneficiary or any party other than a Federal Reserve Bank may assert against the beneficiary's bank, or affect any liability of the beneficiary's bank to the beneficiary or any party other than a Federal Reserve Bank under Article 4A or other law. (3) In circumstances where the beneficiary's bank (other than a Federal Reserve Bank) has reasonable cause to believe that the beneficiary is not entitled or permitted to receive payment, the beneficiary's bank may notify its Federal Reserve Bank that it requires additional time to determine whether to accept the payment order. In the event the beneficiary's bank gives such notice to its Federal Reserve Bank, for purposes of this subpart and Article 4A the beneficiary's bank does not accept the payment order upon its receipt of payment in the amount of the payment order by a Federal Reserve Bank. Sec. 210.45 Payment orders. (a) Rejection. A sender shall not send a payment order to a Federal Reserve Bank unless authorized to do so by the Federal Reserve Bank. A Federal Reserve Bank may reject, or impose conditions that must be satisfied before it will accept, a payment order for any reason. (b) Selection of an intermediary bank. For an interdistrict transfer through the FedNow Service, a Federal Reserve Bank is authorized and directed to execute a payment order through another Federal Reserve Bank. A sender shall not send a payment order to a Federal Reserve Bank that requires the Federal Reserve Bank to send a payment order to an intermediary bank (other than a Federal Reserve Bank). A sender shall not send to a Federal Reserve Bank a payment order through the FedNow Service that instructs use by a Federal Reserve Bank of a funds-transfer system or means of transmission other than the FedNow Service, unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions. (c) Execution date and payment date. A sender shall not issue a payment order through the FedNow Service that instructs a Federal Reserve Bank to execute the payment order or to pay the beneficiary on a FedNow funds-transfer business day that is later than the funds-transfer business day on which the order is received by the Federal Reserve Bank, unless the Federal Reserve Bank agrees with the sender in writing to follow such instructions. Sec. 210.46 Payment by a Federal Reserve Bank to a receiving bank or beneficiary. (a) Payment to a receiving bank. Payment of a Federal Reserve Bank's obligation to pay a receiving bank (other than a Federal Reserve Bank) occurs at the earlier of the time when the amount of the payment order is credited to the receiving bank's settlement account or when the payment order is sent to the receiving bank. (b) Payment to a beneficiary. Payment by a Federal Reserve Bank to a beneficiary of a payment order, where the Federal Reserve Bank is the beneficiary's bank, occurs at the earlier of the time when the amount of the payment order is credited to the beneficiary's settlement account or when notice of the credit is sent to the beneficiary. Sec. 210.47 Federal Reserve Bank liability; payment of compensation. (a) Damages. In connection with its handling of a payment order under this subpart, a Federal Reserve Bank shall not be liable to a sender, receiving [[Page 294]] bank, beneficiary, or other Federal Reserve Bank, governed by this subpart, for any damages other than those payable under Article 4A. A Federal Reserve Bank shall not agree to be liable to a sender, receiving bank, beneficiary, or other Federal Reserve Bank for consequential damages under section 4A-305(d) of Article 4A. (b) Payment of compensation. (1) A Federal Reserve Bank shall satisfy its obligation, or that of another Federal Reserve Bank, to pay compensation in the form of interest under Article 4A by paying such compensation to a sender, receiving bank, beneficiary, or another party to the funds transfer that is entitled to such payment in an amount that is calculated in accordance with section 4A-506 of Article 4A. (2) If the sender or receiving bank that is the recipient of the payment of compensation is not the party entitled to compensation under Article 4A, the sender or receiving bank shall pass through the benefit of the compensation by making an interest payment, as of the day the compensation was paid by the Federal Reserve Bank, to the party entitled to compensation. The interest payment that is made to the party entitled to compensation shall not be less than the value of the compensation that was paid by the Federal Reserve Bank to the sender or receiving bank. The party entitled to compensation may agree to accept compensation in a form other than a direct interest payment, provided that such an alternative form of compensation is not less than the value of the interest payment that otherwise would be made. (c) Nonwaiver of right of recovery. Nothing in this subpart or any operating circular issued hereunder shall constitute, or be construed as constituting, a waiver by a Federal Reserve Bank of a cause of action for recovery under any applicable law of mistake and restitution. Sec. Appendix A to Subpart C of Part 210--Commentary The Commentary provides background material to explain the intent of the Board of Governors of the Federal Reserve System (Board) in adopting a particular provision in the subpart and to help readers interpret that provision. In some comments, examples are offered. The Commentary constitutes an official Board interpretation of subpart C of this part. Commentary is not provided for every provision of subpart C of this part, as some provisions are self-explanatory. Section 210.40--Authority, Purpose, and Scope (a) Authority and purpose. Section 210.40(a) states that the purpose of subpart C of this part is to provide rules to govern funds transfers through the FedNow Service and recites the Board's rulemaking authority for this subpart. Subpart C of this part is Federal law and is not a ``funds-transfer system rule,'' as defined in section 4A-501(b) of Article 4A, Funds Transfers, of the Uniform Commercial Code (UCC), as set forth in appendix A of this part. Certain provisions of Article 4A may not be varied by a funds-transfer system rule, but under section 4A- 107, regulations of the Board and Operating Circulars of the Federal Reserve Banks supersede inconsistent provisions of Article 4A to the extent of the inconsistency. In addition, regulations of the Board may preempt inconsistent provisions of state law. Accordingly, subpart C of this part supersedes or preempts inconsistent provisions of state law. It does not affect state law governing funds transfers that does not conflict with the provisions of subpart C of this part, such as Article 4A, as enacted in any state, as such state law may apply to parties to funds transfers through the FedNow Service whose rights and obligations are not governed by subpart C of this part. (b) Scope. (1) Subpart C of this part incorporates the provisions of Article 4A set forth in appendix A of this part. The provisions set forth expressly in the sections of subpart C of this part supersede or preempt any inconsistent provisions of Article 4A as set forth in appendix A of this part or as enacted in any state. The official comments to Article 4A are not incorporated in subpart C of this part or this commentary to subpart C of this part, but the official comments may be useful in interpreting Article 4A as set forth in appendix A of this part. Because section 4A-105 refers to other provisions of the Uniform Commercial Code (e.g., definitions in article 1 of the UCC), these other provisions of the UCC, as approved by the National Conference of Commissioners on Uniform State Laws, which is now also known as the Uniform Law Commission, and the American Law Institute, from time to time, are also incorporated into subpart C of this part. Subpart C of this part applies to any party to a funds transfer sent through the FedNow Service that is in privity with a Federal Reserve Bank. These parties include a sender (bank or nonbank) that sends a payment order to a Federal Reserve Bank through the FedNow Service, a receiving bank that receives a [[Page 295]] payment order from a Federal Reserve Bank, and a beneficiary that receives credit to an account that it uses or maintains at a Federal Reserve Bank as payment for a payment order accepted by a Federal Reserve Bank. Subpart C of this part also applies to Federal Reserve Banks that send or receive payment orders over the FedNow Service. For example, if a sender settles its activity over the FedNow Service in the account of a correspondent bank, the sender's Federal Reserve Bank would be a bank in the funds transfer chain, but the Federal Reserve Bank of the correspondent bank would not be a sender or receiving bank with respect to the payment order and would not be a party to the funds transfer. Other parties to a funds transfer sent through the FedNow Service are covered by this subpart to the same extent that this subpart would apply to them if this subpart were a ``funds-transfer system rule'' under Article 4A that selected subpart C of this part as the governing law. (2) The scope of the applicability of a funds-transfer system rule under Article 4A is specified in section 4A-501(b), and the scope of the choice of law provision is specified in section 4A-507(c). Under section 4A-507(c), a choice of law provision is binding on the participants in a funds-transfer system and certain other parties having notice that the funds-transfer system might be used for the funds transfer and of the choice of law provision. The Uniform Commercial Code provides that a person has notice of a fact when the person has actual knowledge of it, receives a notice or notification of it, or has reason to know that it exists from all the facts and circumstances known to the person at the time in question. (See UCC sec. 1-202.) However, under sections 4A- 507(b) and 4A-507(d), a choice of law by agreement of the parties takes precedence over a choice of law made by funds-transfer system rule. (3) With respect to funds transfers sent through the FedNow Service, if originators and beneficiaries that are not in privity with a Federal Reserve Bank have the notice contemplated by Section 4A-507(c) or if those parties agree to be bound by subpart C of this part, subpart C of this part generally would apply to those remote parties. If remote parties to a funds transfer, a portion of which is sent through the FedNow Service, have expressly selected by agreement a law other than subpart C of this part under section 4A-507(b), subpart C of this part would not take precedence over the choice of law made by the agreement even though the remote parties had notice that the FedNow Service may be used and of the governing law. (See 4A-507(d).) In addition, subpart C of this part would not apply to a funds transfer sent through a funds- transfer system other than the FedNow Service, even though settlement for the funds transfer is made by means of a separate funds transfer through the FedNow Service. (4) Under section 4A-108, Article 4A does not apply to a funds transfer, any part of which is governed by the Electronic Fund Transfer Act (EFTA) (15 U.S.C. 1693 et seq.). A funds transfer from a consumer originator or a funds transfer to a consumer beneficiary could be carried out through the FedNow Service and could potentially be subject to the EFTA and Regulation E (12 CFR part 1005) implementing it. If so, the funds transfer continues to also be governed by subpart C, except that, in the event of an inconsistency between the provisions of subpart C and the EFTA, the EFTA shall prevail to the extent of the inconsistency. (See also the commentary to section 210.41 in this appendix, ``Payment Order.'') For example, a funds transfer may be initiated from a consumer's account at a depository institution, and the depository institution may execute that payment order by sending a conforming payment order to a Reserve Bank through the FedNow Service. If that transfer is subject to the EFTA, then examples of how the provisions of subpart C may govern the transfer include, but are not limited to, the following: (i) Where the consumer subsequently gives timely notice that the transfer was an unauthorized electronic fund transfer to its depository institution and exercises the right to obtain a refund under the EFTA, the depository institution would be required to comply with the EFTA and the applicable provisions of the EFTA would govern the institution's obligations to its customer, even if under subpart C the institution does not have a right to receive a refund or reverse the payment order sent to the Reserve Bank through the FedNow Service. (ii) Where the customer properly asserts an error under the EFTA with respect to the transfer and exercises the right to obtain a refund to correct the error under the EFTA, the depository institution would be required to comply with the EFTA and the applicable provisions of the EFTA would govern the institution's obligations to its customer, even if under subpart C the institution is obliged to pay its payment order sent to the Reserve Bank through the FedNow Service. (c) Operating Circulars. The Federal Reserve Banks issue Operating Circulars consistent with this subpart that contain additional provisions applicable to payment orders and other messages sent through the FedNow Service. Under section 4A-107, this Operating Circular supersedes inconsistent provisions of Article 4A, both as set forth in appendix A of this part and as enacted in any state. These Operating Circulars are not funds-transfer system rules, but, by their terms, they are binding on all parties covered by this subpart. [[Page 296]] (d) Government senders, receiving banks, and beneficiaries. This section clarifies that unless a statute of the United States provides otherwise, subpart C of this part applies to governmental entities. (e) Financial messaging standards. This paragraph makes clear that financial messaging standards, including the financial messaging components, elements, technical documentation, tags, and terminology used to implement those standards, do not confer or connote legal status or responsibilities. Instead, subpart C of this part and Federal Reserve Bank operating circulars govern the rights and obligations of parties to funds transfers sent through the FedNow Service as provided in Sec. 210.40(b). Thus, to the extent there is any inconsistency between a financial messaging standard adopted by the FedNow Service and subpart C of this part, subpart C of this part, including Article 4A as set forth in appendix A of this part, will prevail. In the ISO 20022 financial messaging standard, for example, the term agent is used to refer to a variety of bank parties to a funds transfer (e.g., debtor agent, creditor agent, intermediary agent). Notwithstanding use of that term in the standard and in message tags, such banks are not the agents of any party to a funds transfer and owe no duty to any other party to such a funds transfer except as provided in subpart C of this part (including Article 4A) or by express agreement. The ISO 20022 financial messaging standard also permits information to be carried in a funds-transfer message regarding persons that are not parties to that funds transfer (e.g., ultimate debtor, ultimate creditor, initiating party) for regulatory, compliance, remittance, or other purposes. An ``ultimate debtor'' is not an ``originator'' as defined in Article 4A. The relationship between the ultimate debtor and the originator (what the ISO 20022 standard calls the ``debtor'') is determined by law other than Article 4A. Section 210.41-- Definitions Article 4A defines many terms (e.g., beneficiary, intermediary bank, receiving bank, security procedure) used in this subpart. These terms are defined or listed in sections 4A-103 through 4A-105. These terms, such as the term bank (defined in section 4A-105(d)(2)), may differ from comparable terms in subpart A and subpart B of this part. As subpart C of this part incorporates consistent provisions of Article 4A, it incorporates these definitions unless these terms are expressly defined otherwise in subpart C of this part. This subpart modifies the definitions of five Article 4A terms: beneficiary, beneficiary's bank, payment order, receiving bank, and sender. This subpart also defines terms not defined in Article 4A. Article 4A. Article 4A means the version of that article of the Uniform Commercial Code set forth in appendix A of this part. It does not refer to the law of any particular state unless the context indicates otherwise. Subject to the express provisions of this Subpart, this version of Article 4A is incorporated into this subpart and made Federal law for transactions covered by this subpart. (See Sec. 210.40(b)(1) and accompanying commentary.) Because section 4A-105 refers to other provisions of the Uniform Commercial Code (e.g., definitions in article 1 of the UCC) these other provisions of the UCC, as approved by the National Conference of Commissioners on Uniform State Laws, which is now also known as the Uniform Law Commission, and the American Law Institute, from time to time, are also incorporated in subpart C of this part. Beneficiary, beneficiary's bank, receiving bank, and sender. The definitions of ``beneficiary,'' ``beneficiary's bank,'' ``receiving bank,'' and ``sender'' in subpart C of this part differ from the definitions in sections 4A-103(a)(2)-(4). The subpart C definition clarifies that, for the purposes of subpart C of this part, these terms are limited to parties in a funds transfer that is sent through the FedNow Service. For example, the parties to a funds transfer that is sent through the Fedwire Funds Service would be governed by subpart B of this part, and would not be a ``beneficiary,'' ``beneficiary's bank,'' ``receiving bank,'' or ``sender'' governed by subpart C. The definition of ``beneficiary's bank'' in subpart C further clarifies that where a Federal Reserve Bank functions as the beneficiary's bank, it need not be identified in the payment order as the beneficiary's bank and that a Federal Reserve Bank that receives a payment order as beneficiary is also the beneficiary's bank with respect to that payment order. The FedNow Service. The FedNow Service refers to the funds-transfer system owned and operated by the Federal Reserve Banks to support instant payments that is governed by this Subpart. The term does not refer to any particular computer, telecommunications facility, or funds transfer, but rather to the system as a whole. The FedNow Service does not include the Fedwire Funds Service or the system used for automated clearing house transfers. Payment Order. (1) The definition of ``payment order'' in subpart C of this part differs from the section 4A-103(a)(1) definition. The subpart C definition clarifies that, for the purposes of subpart C of this part, the term includes only instructions transmitted through the FedNow Service. For example, instructions transmitted through the Fedwire Funds Service would be governed by subpart B of this part, and not subpart C. [[Page 297]] Additionally, the subpart C definition provides that certain messages that are transmitted through the FedNow Service are not payment orders. Federal Reserve Banks and banks participating in the FedNow Service send various types of messages relating to payment orders or to other matters, through the FedNow Service, that are not intended to be payment orders. In some cases, messages sent through the FedNow Service, such as certain requests for payment, may be payment orders under Article 4A, but are not treated as payment orders under subpart C because they are not an instruction to a Federal Reserve Bank to pay or cause another bank to pay money. Under the subpart C definition, these messages are not ``payment orders'' governed by this subpart. The operating circulars of the Federal Reserve Banks may specify those messages that may be transmitted through the FedNow Service but that are not payment orders. (2) Subpart C, including its incorporation of Article 4A, governs a payment order even though the originator's or beneficiary's account may be a consumer account established primarily for personal, family, or household purposes. Under section 4A-108, Article 4A does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act. That Act, and Regulation E (12 CFR part 1005) implementing it, may govern a transfer through the FedNow Service that is from a consumer originator or to a consumer beneficiary. In the event that a transfer through the FedNow Service is subject to the EFTA, the transfer continues to also be governed by this subpart, except that, in the event of an inconsistency between the provisions of subpart C and the EFTA, the EFTA shall prevail to the extent of the inconsistency. (See also Sec. 210.40(b) and accompanying commentary.) Thus, this subpart applies to all funds transfers through the FedNow Service even though some such transfers involve originators or beneficiaries that are consumers. Sender's settlement account, receiving bank's settlement account, and beneficiary's settlement account. A FedNow participant must designate an account on the books of a Federal Reserve Bank that the Federal Reserve Banks may use to settle the participant's activity over the FedNow Service. A FedNow participant may settle its activity over the FedNow Service in its master account. Alternatively, it may designate the account of a correspondent bank that the Federal Reserve Banks may use to settle activity through the service, subject to the correspondent bank's agreement to any such designation. Section 210.42--Reliance on Identifying Number (a) Reliance by a Federal Reserve Bank on number to identify intermediary bank or beneficiary's bank. Section 4A-208 provides that a receiving bank, such as a Federal Reserve Bank, may rely on the routing number of an intermediary bank or the beneficiary's bank specified in a payment order as identifying the appropriate intermediary bank or beneficiary's bank, even if the payment order identifies another bank by name, provided that the receiving bank does not know of the inconsistency. Under section 4A-208(b)(2), if the sender of the payment order is not a bank, a receiving bank may rely on the number only if the sender had notice before the receiving bank accepted the sender's order that the receiving bank might rely on the number. This section provides this notice to entities that are not banks, such as the Department of the Treasury, that send payment orders directly to a Federal Reserve Bank through the FedNow Service. (b) Reliance by a Federal Reserve Bank on number to identify beneficiary. Section 4A-207 provides that a beneficiary's bank, such as a Federal Reserve Bank, may rely on the number identifying a beneficiary, such as the beneficiary's account number, specified in a payment order as identifying the appropriate beneficiary, even if the payment order identifies another beneficiary by name, provided that the beneficiary's bank does not know of the inconsistency. Under section 4A- 207(c)(2), if the originator is not a bank, an originator is not obliged to pay for a payment order if the originator did not have notice that the beneficiary's bank might rely on the identifying number and the person paid on the basis of the identifying number was not entitled to receive payment. This section of subpart C provides this notice to entities that are not banks, such as the Department of the Treasury, that are originators of payment orders sent directly by the originators to a Federal Reserve Bank through the FedNow Service, where that Federal Reserve Bank or another Federal Reserve Bank is the beneficiary's bank (see also section 4A-402(b), providing that a sender must pay a beneficiary's bank for a payment order accepted by the beneficiary's bank). Section 210.43--Agreement of Sender (a) Payment of sender's obligation to a Federal Reserve Bank. When a sender sends a payment order to a Federal Reserve Bank and the Federal Reserve Bank accepts the payment order by issuing a conforming order executing the sender's payment order, under section 4A-402, the sender is indebted to the Federal Reserve Bank for the amount of the payment order. Section 4A-403 specifies the various methods by which a sender may settle the obligation under section 4A-402. With respect to a payment order sent through the FedNow Service, the obligation of a sender (other than a Federal Reserve Bank) is settled by a debit to the account of the sender at a Federal Reserve Bank. Section 210.43(a) [[Page 298]] provides that a sender, other than a Federal Reserve Bank, that maintains or uses a settlement account at a Federal Reserve Bank authorizes its Federal Reserve Bank to debit, or cause any other Federal Reserve Bank on whose books the settlement account is maintained to debit, that account, so that the Federal Reserve Bank can obtain payment for the payment order. (b) Overdrafts. (1) In some cases, debits to a sender's settlement account will create an overdraft in the settlement account. The Board and the Federal Reserve Banks have established policies concerning when a Federal Reserve Bank will permit a bank to incur an overdraft in its account at a Federal Reserve Bank. These policies do not give a bank or other sender a right to an overdraft in its account. Subpart C clarifies that a sender does not have a right to such an overdraft. If an overdraft arises, it becomes immediately due and payable at the earliest of the following times: The end of the FedNow funds-transfer business day; the time the Federal Reserve Bank in its sole discretion, deems itself insecure and gives notice to the sender; or the time that the sender suspends payments or is closed by governmental action, such as the appointment of a receiver. In some cases, a Federal Reserve Bank extends its FedNow operations beyond the standard cut-off time for that FedNow funds-transfer business day. For the purposes of this section, unless otherwise specified by the Federal Reserve Bank making such an extension, an overdraft becomes due and payable at the end of the extended operating hours. An overdraft becomes due and payable prior to a Federal Reserve Bank's cut-off time if the Federal Reserve Bank deems itself insecure and gives notice to the sender. A Federal Reserve Bank that deems itself insecure may give such notice in accordance with the provisions on notice in section 1-202(d) of the UCC, in accordance with any other applicable law or agreement, or by any other reasonable means. An overdraft also becomes due and payable at the time that a bank is closed or suspends payments. For example, an overdraft becomes due and payable if a receiver is appointed for the bank or the bank is prevented from making payments by governmental order. The Federal Reserve Bank need not make demand on the sender for the overdraft to become due and payable. (2) A sender must cover any overdraft and any other obligation of the sender to the Federal Reserve Bank by the time the overdraft becomes due and payable. By sending a payment order to a Federal Reserve Bank, the sender grants a security interest to the Federal Reserve Bank in all of the assets of the sender possessed or controlled by, or held for the account of, the Federal Reserve Bank in order to secure all obligations due or to become due to the Federal Reserve Bank. The security interest attaches when the overdraft, or other obligation of the sender to the Federal Reserve Bank, becomes due and payable. The security interest does not apply to assets held by the sender as custodian or trustee for the sender's customers or third parties. Once an overdraft is due and payable, a Federal Reserve Bank may exercise its right of set off, liquidate collateral, or take other similar action to satisfy the obligation the sender owes to the Federal Reserve Bank. (c) Review of payment orders. (1) Under section 4A-204, a receiving bank is required to refund the principal amount of an unauthorized payment order that the sender was not obliged to pay, together with interest on the refundable amount calculated from the date that the receiving bank received payment to the date of the refund. The sender is not entitled to compensation in the form of interest if the sender fails to exercise ordinary care to determine that the order was not authorized and to notify the receiving bank within a reasonable time after the sender receives a notice that the payment order was accepted or that the sender's account was debited with respect to the order. Similarly, under section 4A-304, if a sender of a payment order that was erroneously executed does not notify the bank receiving the payment order within a reasonable time, the bank is not liable to the sender for compensation in the form of interest on any amount refundable to the sender. Section 210.43(c) establishes 60 calendar days as the reasonable period of time for the purposes of these provisions of Article 4A. (2) Section 4A-505 provides that in order for a customer to assert a claim objecting to a debit to its account by a receiving bank, the customer must notify the receiving bank of its objection within one year after the customer received notification reasonably identifying the payment order. Subpart C of this part does not vary this one-year claim preclusion period. Section 210.44--Agreement of Receiving Bank (b) Funds availability. (1) Section 4A-209(b) provides that a beneficiary's bank accepts a payment order at the earliest of certain specified events, including when the bank receives payment for the entire amount of the order from the sender (see section 4A-209(b)(2)). Section 4A-404(a) provides that if a beneficiary's bank accepts a payment order, it is obliged to pay the amount of a payment order to the beneficiary on the payment date unless acceptance of the payment order occurs on the payment date after the close of the funds-transfer business day of the bank. Section 4A-405(a) provides that if a beneficiary's bank pays the beneficiary by crediting an account of the beneficiary on its own books, payment of the bank's obligation [[Page 299]] under Section 4A-404(a) occurs when and to the extent (i) the bank notifies the beneficiary that it may withdraw the amount of the credit, (ii) the bank lawfully applies the credit to a debt of the beneficiary, or (iii) funds with respect to the payment order are otherwise made available to the beneficiary by the bank. (2) Section 210.44(b)(1) provides that if a FedNow participant that is the beneficiary's bank accepts a payment order, it must pay the beneficiary by credit to the beneficiary's account in accordance with section 4A-405(a) of Article 4A, and it must do so immediately after its acceptance of the payment order. This section further clarifies that the provisions of the Expedited Funds Availability Act (12 U.S.C. 4002(a)) and its implementing regulation, Regulation CC (12 CFR part 229), also govern. Regulation CC provides that funds received by a bank by an electronic payment shall be available for withdrawal not later than the business day after the banking day on which such funds are received. (12 CFR 229.10(b).) Because Subpart C of this part requires funds to be made available on a more prompt basis than the availability requirements of the Expedited Funds Availability Act and Regulation CC, that act and Regulation CC do not preempt or invalidate subpart C. For example, if a beneficiary's bank accepts a payment order through the FedNow Service at 10 a.m. but does not make funds available to the beneficiary until 5 p.m., the bank has failed to satisfy its obligations under subpart C of this part even if it has satisfied its obligations under Regulation CC. (3) Section 210.44(b)(2) clarifies that the obligation for the beneficiary's bank to provide immediate funds availability to the beneficiary under Sec. 210.44(b)(1), and any Operating Circular issued in accordance with subpart C, should not be construed as creating any rights that the beneficiary or any party other than a Federal Reserve Bank may assert against the beneficiary's bank, or affect any liability of the beneficiary's bank to the beneficiary or any party other than a Federal Reserve Bank under Article 4A or other law. In the example above, where the beneficiary's bank accepts a payment order through the FedNow Service at 10 a.m. but does not make funds available to the beneficiary until 5 p.m., the bank has failed to satisfy its obligations under Sec. 210.44(b)(1) but the beneficiary would not have a claim or right to assert against the bank under that provision. (4) Section 210.46(a) provides that payment by a Federal Reserve Bank to a receiving bank occurs when the receiving bank's settlement account is credited or when the payment order is sent by the Federal Reserve Bank to the receiving bank, whichever is earlier, and would ordinarily be considered acceptance of the payment order by the beneficiary's bank under section 4A-209(b). Section 210.44(b)(3) provides that notwithstanding section 4A-209(b), in certain circumstances a beneficiary's bank is not deemed to accept a payment order at such time as it receives payment from its Federal Reserve Bank. Specifically, where the beneficiary's bank has reasonable cause to believe that the beneficiary is not entitled or permitted to receive payment and the beneficiary's bank notifies its Federal Reserve Bank that it requires additional time to determine whether to accept the payment order, this section provides that for purposes of subpart C and Article 4A, the beneficiary's bank does not accept the payment order even if it has received payment for the entire amount of the order from its Federal Reserve Bank as provided in Sec. 210.46. For example, if the beneficiary's bank has reasonable cause to believe that making funds available to the beneficiary may violate applicable U.S. sanctions, the beneficiary's bank may notify its Federal Reserve Bank that it requires additional time to determine whether to accept the payment order, including to investigate if the beneficiary is subject to applicable sanctions. As an additional example, if the beneficiary's bank has reasonable cause to believe that a particular payment order may be related to fraudulent activity, the beneficiary's bank may notify its Federal Reserve Bank that it requires additional time to determine whether to accept the payment order, including to investigate the suspected fraudulent activity. In both examples, in the event the beneficiary's bank gives such notice, the beneficiary's bank would not be deemed to have accepted the payment order at the time it receives payment from its Federal Reserve Bank. Section 210.45--Payment Orders (a) Rejection. (1) A sender must make arrangements with its Federal Reserve Bank before it can send payment orders to the Federal Reserve Bank. Federal Reserve Banks reserve the right to reject or impose conditions on the acceptance of payment orders for any reason. For example, a Federal Reserve Bank might reject or impose conditions on accepting a payment order where a sender does not have sufficient funds in its settlement account with the Federal Reserve Bank to cover the amount of the sender's payment order and other obligations of the sender due or to become due to the Federal Reserve Bank. As a further example, a Federal Reserve Bank may reject a payment order that is not successfully processed within time limits established by the Federal Reserve Banks. A Federal Reserve Bank may require a sender to execute a written agreement concerning security procedures or other matters before the sender may send [[Page 300]] payment orders to the Federal Reserve Bank. (b) Selection of an intermediary bank. (1) Under section 4A-302, if a receiving bank (other than a beneficiary's bank), such as a Federal Reserve Bank, accepts a payment order, it must issue a payment order that complies with the sender's order. The sender's order may include instructions concerning an intermediary bank to be used that must be followed by a receiving bank (see section 4A-302(a)(1)). If the sender does not designate any intermediary bank in its payment order, the receiving bank may select an intermediary bank through which the sender's payment order can be expeditiously issued to the beneficiary's bank so long as the receiving bank exercises ordinary care in selecting the intermediary bank (see section 4A-302(b)). (2) This section provides that in an interdistrict transfer, a Federal Reserve Bank is authorized and directed to select another Federal Reserve Bank as an intermediary bank. A sender may not instruct a Federal Reserve Bank to use a particular intermediary bank or to use its discretion to select an intermediary bank other than a Federal Reserve Bank. In addition, a sender may not send a payment order through the FedNow Service that instructs a Federal Reserve Bank to use a funds- transfer system or means of transmission other than the FedNow Service, unless the sender and the Federal Reserve Bank agree in writing to the use of that funds-transfer system or means of transmission. (c) Execution date and payment date. (1) Under 4A-301(b), the ``execution date'' of a payment order means the day on which the receiving bank may properly issue a payment order in execution of the sender's order. Under section 4A-401, the ``payment date'' of a payment order is the day on which the amount of the order is payable to the beneficiary by the beneficiary's bank. The execution date and the payment date may be determined by instruction of the sender but cannot be earlier than the day the order is received and, unless otherwise determined, is the day the order is received (see sections 4A-301(b) and 4A-401). Section 4A-106, provides for the time that a payment order is received, including in the event that a receiving bank fixes a cut-off time for the receipt and processing of payment orders. If the bank receives a payment order after its cut-off time, the bank may treat the payment order as received at the opening of the next funds-transfer business day (see section 4A-106(a)). (2) The FedNow Service is designed to be an instant value transfer system through which funds may be transferred from the originator to the beneficiary on the same funds-transfer business day. This section provides that a sender may not send a payment order to a Federal Reserve Bank that specifies an execution date or payment date later than the day on which the payment order is issued, unless the sender of the order and the Federal Reserve Bank agree in writing to the arrangement. Section 210.46--Payment by a Federal Reserve Bank to a Receiving Bank or Beneficiary (a) Payment to a receiving bank. (1) Under section 4A-402, when a Federal Reserve Bank executes a sender's payment order by issuing a conforming order to a receiving bank that accepts the payment order, the Federal Reserve Bank must pay the receiving bank the amount of the payment order. Section 210.44(a) authorizes a Federal Reserve Bank to make the payment by crediting, or causing any other Federal Reserve Bank on whose books the settlement account is maintained to credit, the settlement account of the receiving bank. Section 210.46(a) provides that the payment occurs when the receiving bank's settlement account is credited or when the payment order is sent by the Federal Reserve Bank to the receiving bank, whichever is earlier. Ordinarily, payment will occur during the FedNow funds-transfer business day a short time after the payment order is received. This credit is final and irrevocable when made and constitutes final settlement under section 4A-403. Payment does not waive a Federal Reserve Bank's right of recovery under the applicable law of mistake and restitution (see Sec. 210.47(c)), affect a Federal Reserve Bank's right to apply the funds to any obligation due or to become due to the Federal Reserve Bank, or affect legal process or claims by third parties on the funds. (2) This section on final payment does not apply to settlement for payment orders between Federal Reserve Banks. These payment orders are settled by other means. (b) Payment to a beneficiary. Section 210.46(b) specifies when a Federal Reserve Bank makes payment to a beneficiary for which it is the beneficiary's bank. As in the case of payment to a receiving bank, this payment occurs at the earlier of the time that the Federal Reserve Bank credits the beneficiary's settlement account or sends notice of the credit to the beneficiary, and is final and irrevocable when made. Section 210.47--Federal Reserve Bank Liability; Payment of Compensation (a) Damages. (1) Under section 4A-305(d), damages for failure of a receiving bank to execute a payment order that it was obligated to execute by express agreement are limited to expenses in the transaction and incidental expenses and interest and do not include additional damages, including consequential damages, unless they are provided for in an express written agreement of the [[Page 301]] receiving bank. This section clarifies that in connection with the handling of payment orders, Federal Reserve Banks may not agree to be liable for consequential damages under this provision and shall not be liable for damages other than those that may be due under Article 4A to parties governed by this subpart. Any agreement in conflict with these provisions would not be effective, because it would be in violation of subpart C. (2) This section does not affect the ability of other parties to a funds transfer to agree to be liable for consequential damages, the liability of a Federal Reserve Bank under section 4A-404 (relating to obligation of beneficiary's bank to pay and give notice to beneficiary), or the liability to parties governed by subpart C for claims not based on the handling of a payment order under subpart C. (b) Payment of compensation. (1) Under Article 4A, a Federal Reserve Bank may be required to pay compensation in the form of interest to another party in connection with its handling of a funds transfer. For example, payment of compensation in the form of interest is required in certain situations pursuant to sections 4A-204 (relating to refund of payment and duty of customer to report with respect to unauthorized payment order), 4A-209 (relating to acceptance of payment order), 4A-210 (relating to rejection of payment order), 4A-304 (relating to duty of sender to report erroneously executed payment order), 4A-305 (relating to liability for late or improper execution or failure to execute a payment order), 4A-402 (relating to obligation of sender to pay receiving bank), and 4A-404 (relating to obligation of beneficiary's bank to pay and give notice to beneficiary). (2) Section 210.47(b) requires Federal Reserve Banks to provide compensation through payment in the form of interest. Under section 4A- 506(a), the amount of such interest may be determined by agreement between the sender and receiving bank or by funds-transfer system rule. If there is no such agreement, under section 4A-506(b), the amount of interest is based on the Federal funds rate. Similarly, compensation in the form of interest will be paid to government senders, receiving banks, or beneficiaries described in Sec. 210.40(d) if they are entitled to interest under subpart C. A Federal Reserve Bank may also, in its discretion, pay compensation in the form of interest directly to a remote party to a transfer through the FedNow Service that is entitled to interest, rather than providing compensation to its sender or receiving bank. (3) If a sender or receiving bank that received a payment of compensation is not the party entitled to compensation under Article 4A, the sender or receiving bank must pass the benefit of the compensation payment made to it to the party that is entitled to compensation. The benefit may be passed on either in the form of a direct payment of interest or in the form of a compensating balance, if the party entitled to interest agrees to accept the other form of compensation. In the latter case, the value of the compensating balance must be at least equivalent to the value of the interest payment that otherwise would have been provided. (c) Nonwaiver of right of recovery. Several sections of Article 4A allow a party to a funds transfer to make a claim pursuant to the applicable law of mistake and restitution. Nothing in subpart C of this part or any Operating Circular issued in accordance with subpart C of this part waives any such claim by a Federal Reserve Bank. A Federal Reserve Bank, however, may waive such a claim by express written agreement in order to settle litigation or for other purposes. Sec. Appendix A to Part 210--Article 4A, Funds Transfers Part 1--Subject Matter and Definitions Section 4A-101. Short Title This Article may be cited as Uniform Commercial Code--Funds Transfers. Section 4A-102. Subject Matter Except as otherwise provided in section 4A-108, this Article applies to funds transfers defined in section 4A-104. Section 4A-103. Payment Order--Definitions (a) In this Article: (1) Payment order means an instruction of a sender to a receiving bank, transmitted orally, electronically, or in writing, to pay, or to cause another bank to pay, a fixed or determinable amount of money to a beneficiary if: (i) The instruction does not state a condition to payment to the beneficiary other than time of payment, (ii) The receiving bank is to be reimbursed by debiting an account of, or otherwise receiving payment from, the sender, and (iii) The instruction is transmitted by the sender directly to the receiving bank or to an agent, funds-transfer system, or communication system for transmittal to the receiving bank. (2) Beneficiary means the person to be paid by the beneficiary's bank. (3) ``Beneficiary's bank'' means the bank identified in a payment order in which an account of the beneficiary is to be credited pursuant to the order or which otherwise is to make payment to the beneficiary if the order does not provide for payment to an account. (4) Receiving bank means the bank to which the sender's instruction is addressed. [[Page 302]] (5) Sender means the person giving the instruction to the receiving bank. (b) If an instruction complying with paragraph (a)(1) of this section is to make more than one payment to a beneficiary, the instruction is a separate payment order with respect to each payment. (c) A payment order is issued when it is sent to the receiving bank. Section 4A-104. Funds Transfer--Definitions In this Article: (a) Funds transfer means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order. (b) Intermediary bank means a receiving bank other than the originator's bank or the beneficiary's bank. (c) Originator means the sender of the first payment order in a funds transfer. (d) Originator's bank means: (1) The receiving bank to which the payment order of the originator is issued if the originator is not a bank; or (2) The originator if the originator is a bank. Section 4A-105. Other Definitions (a) In this Article: (1) Authorized account means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, any account of the customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of that account. (2) Bank means a person engaged in the business of banking and includes a savings bank, savings and loan association, credit union, and trust company. A branch or separate office of a bank is a separate bank for purposes of this Article. (3) Customer means a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders. (4) Funds-transfer business day of a receiving bank means the part of a day during which the receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders. (5) Funds-transfer system means a wire transfer network, automated clearing house, or other communication system of a clearing house or other association of banks through which a payment order by a bank may be transmitted to the bank to which the order is addressed. (6) Good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing. (7) Prove with respect to a fact means to meet the burden of establishing the fact (Section 1-201(8)). (b) Other definitions applying to this Article and the sections in which they appear are: ``Acceptance'' .....Sec. 4A-209 ``Beneficiary'' .....Sec. 4A-103 ``Beneficiary's bank'' .....Sec. 4A-103 ``Executed'' .....Sec. 4A-301 ``Execution date'' .....Sec. 4A-301 ``Funds transfer'' .....Sec. 4A-104 ``Funds-transfer system rule'' .....Sec. 4A-501 ``Intermediary bank'' .....Sec. 4A-104 ``Originator'' .....Sec. 4A-104 ``Originator's bank'' .....Sec. 4A-104 ``Payment by beneficiary's bank to beneficiary'' .....Sec. 4A-405 ``Payment by originator to beneficiary'' .....Sec. 4A-406 ``Payment by sender to receiving bank'' .....Sec. 4A-403 ``Payment date'' .....Sec. 4A-401 ``Payment order'' .....Sec. 4A-103 ``Receiving bank'' .....Sec. 4A-103 ``Security procedure'' .....Sec. 4A-201 ``Sender'' .....Sec. 4A-103 (c) The following definitions in Article 4 apply to this Article: ``Clearing house'' .....Sec. 4-104 ``Item'' .....Sec. 4-104 ``Suspends payments'' .....Sec. 4-104 (d) In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article. Section 4A-106. Time Payment Order Is Received (a) The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice stated in Section 1-201(27). A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and communications canceling or amending payment orders. Different cut-off times may apply to payment orders, cancellations, or amendments, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off times may apply to different senders or categories of payment orders. If a payment order or communication canceling or amending a payment order is received after the close of a funds-transfer business day or after the appropriate cut-off time on a funds-transfer business day, the receiving bank [[Page 303]] may treat the payment order or communication as received at the opening of the next funds-transfer business day. (b) If this Article refers to an execution date or payment date or states a day on which a receiving bank is required to take action, and the date or day does not fall on a funds-transfer business day, the next day that is a funds-transfer business day is treated as the date or day stated, unless the contrary is stated in this Article. Section 4A-107. Federal Reserve Regulations and Operating Circulars Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent provision of this Article to the extent of the inconsistency. Section 4A-108. Relationship to Electronic Fund Transfer Act (a) Except as provided in subsection (b), this Article does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act of 1978 (Title XX, Pub. L. 95-630, 92 Stat. 3728, 15 U.S.C. 1693 et seq.) as amended from time to time. (b) This Article applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. 1693o-1) as amended from time to time, unless the remittance transfer is an electronic fund transfer as defined in the Electronic Fund Transfer Act (15 U.S.C. 1693a) as amended from time to time. (c) In a funds transfer to which this Article applies, in the event of an inconsistency between an applicable provision of this Article and an applicable provision of the Electronic Fund Transfer Act, the provision of the Electronic Fund Transfer Act governs to the extent of the inconsistency. Part 2--Issue and Acceptance of Payment Order Section 4A-201. Security Procedure Security procedure means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment order or communication amending or canceling a payment order is that of the customer, or (ii) detecting error in the transmission or the content of the payment order or communication. A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure. Section 4A-202. Authorized and Verified Payment Orders (a) A payment order received by the receiving bank is the authorized order of the person identified as sender if that person authorized the order or is otherwise bound by it under the law of agency. (b) If a bank and its customer have agreed that the authenticity of payment orders issued to the bank in the name of the customer as sender will be verified pursuant to a security procedure, a payment order received by the receiving bank is effective as the order of the customer, whether or not authorized, if (i) the security procedure is a commercially reasonable method of providing security against unauthorized payment orders, and (ii) the bank proves that it accepted the payment order in good faith and in compliance with the security procedure and any written agreement or instruction of the customer restricting acceptance of payment orders issued in the name of the customer. The bank is not required to follow an instruction that violates a written agreement with the customer or notice of which is not received at a time and in a manner affording the bank a reasonable opportunity to act on it before the payment order is accepted. (c) Commercial reasonableness of a security procedure is a question of law to be determined by considering the wishes of the customer expressed to the bank, the circumstances of the customer known to the bank, including the size, type, and frequency of payment orders normally issued by the customer to the bank, alternative security procedures offered to the customer, and security procedures in general use by customers and receiving banks similarly situated. A security procedure is deemed to be commercially reasonable if (i) the security procedure was chosen by the customer after the bank offered, and the customer refused, a security procedure that was commercially reasonable for that customer, and (ii) the customer expressly agreed in writing to be bound by any payment order, whether or not authorized, issued in its name and accepted by the bank in compliance with the security procedure chosen by the customer. (d) The term sender in this Article includes the customer in whose name a payment order is issued if the order is the authorized order of the customer under subsection (a) of this section, or it is effective as the order of the customer under subsection (b) of this section. (e) This section applies to amendments and cancellations of payment orders to the same extent it applies to payment orders. (f) Except as provided in this section and in section 4A-203(a)(1), rights and obligations arising under this section or section 4A-203 may not be varied by agreement. [[Page 304]] Section 4A-203. Unenforceability of Certain Verified Payment Orders (a) If an accepted payment order is not, under section 4A-202(a), an authorized order of a customer identified as sender, but is effective as an order of the customer pursuant to section 4A-202(b), the following rules apply: (1) By express written agreement, the receiving bank may limit the extent to which it is entitled to enforce or retain payment of the payment order. (2) The receiving bank is not entitled to enforce or retain payment of the payment order if the customer proves that the order was not caused, directly or indirectly, by a person (i) entrusted at any time with duties to act for the customer with respect to payment orders or the security procedure, or (ii) who obtained access to transmitting facilities of the customer or who obtained, from a source controlled by the customer and without authority of the receiving bank, information facilitating breach of the security procedure, regardless of how the information was obtained or whether the customer was at fault. Information includes any access device, computer software, or the like. (b) This section applies to amendments of payment orders to the same extent it applies to payment orders. Section 4A-204. Refund of Payment and Duty of Customer To Report With Respect to Unauthorized Payment Order (a) If a receiving bank accepts a payment order issued in the name of its customer as sender which is (i) not authorized and not effective as the order of the customer under section 4A-202, or (ii) not enforceable, in whole or in part, against the customer under section 4A- 203, the bank shall refund any payment of the payment order received from the customer to the extent the bank is not entitled to enforce payment and shall pay interest on the refundable amount calculated from the date the bank received payment to the date of the refund. However, the customer is not entitled to interest from the bank on the amount to be refunded if the customer fails to exercise ordinary care to determine that the order was not authorized by the customer and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the date the customer received notification from the bank that the order was accepted or that the customer's account was debited with respect to the order The bank is not entitled to any recovery from the customer on account of a failure by the customer to give notification as stated in this section. (b) Reasonable time under subsection (a) of this section may be fixed by agreement as stated in section 1-204(1), but the obligation of a receiving bank to refund payment as stated in subsection (a) may not otherwise be varied by agreement. Section 4A-205. Erroneous Payment Orders (a) If an accepted payment order was transmitted pursuant to a security procedure for the detection of error and the payment order (i) erroneously instructed payment to a beneficiary not intended by the sender, (ii) erroneously instructed payment in an amount greater than the amount intended by the sender, or (iii) was an erroneously transmitted duplicate of a payment order previously sent by the sender, the following rules apply: (1) If the sender proves that the sender or a person acting on behalf of the sender pursuant to section 4A-206 complied with the security procedure and that the error would have been detected if the receiving bank had also complied, the sender is not obliged to pay the order to the extent stated in this paragraphs (2) and (3). (2) If the funds transfer is completed on the basis of an erroneous payment order described in clause (i) or (iii) of subsection (a), the sender is not obliged to pay the order and the receiving bank is entitled to recover from the beneficiary any amount paid to the beneficiary to the extent allowed by the law governing mistake and restitution. (3) If the funds transfer is completed on the basis of a payment order described in clause (ii) of subsection (a), the sender is not obliged to pay the order to the extent the amount received by the beneficiary is greater than the amount intended by the sender. In that case, the receiving bank is entitled to recover from the beneficiary the excess amount received to the extent allowed by the law governing mistake and restitution. (b) If (i) the sender of an erroneous payment order described in subsection (a) is not obliged to pay all or part of the order, and (ii) the sender receives notification from the receiving bank that the order was accepted by the bank or that the sender's account was debited with respect to the order, the sender has a duty to exercise ordinary care, on the basis of information available to the sender, to discover the error with respect to the order and to advise the bank of the relevant facts within a reasonable time, not exceeding 90 days, after the bank's notification was received by the sender. If the bank proves that the sender failed to perform that duty, the sender is liable to the bank for the loss the bank proves it incurred as a result of the failure, but the liability of the sender may not exceed the amount of the sender's order. (c) This section applies to amendments to payment orders to the same extent it applies to payment orders. [[Page 305]] Section 4A-206. Transmission of Payment Order Through Funds-Transfer or Other Communication System (a) If a payment order addressed to a receiving bank is transmitted to a funds-transfer system or other third-party communication system for transmittal to the bank, the system is deemed to be an agent of the sender for the purpose of transmitting the payment order to the bank. If there is a discrepancy between the terms of the payment order transmitted to the system and the terms of the payment order transmitted by the system to the bank, the terms of the payment order of the sender are those transmitted by the system. This section does not apply to a funds-transfer system of the Federal Reserve Banks. (b) This section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders. Section 4A-207. Misdescription of Beneficiary (a) Subject to subsection (b), if, in a payment order received by the beneficiary's bank, the name, bank account number, or other identification of the beneficiary refers to a nonexistent or unidentifiable person or account, no person has rights as a beneficiary of the order and acceptance of the order cannot occur. (b) If a payment order received by the beneficiary's bank identifies the beneficiary both by name and by an identifying or bank account number and the name and number identify different persons, the following rules apply: (1) Except as otherwise provided in subsection (c), if the beneficiary's bank does not know that the name and number refer to different persons, it may rely on the number as the proper identification of the beneficiary of the order. The beneficiary's bank need not determine whether the name and number refer to the same person. (2) If the beneficiary's bank pays the person identified by name or knows that the name and number identify different persons, no person has rights as beneficiary except the person paid by the beneficiary's bank if that person was entitled to receive payment from the originator of the funds transfer. If no person has rights as beneficiary, acceptance of the order cannot occur. (c) If (i) a payment order described in subsection (b) is accepted, (ii) the originator's payment order described the beneficiary inconsistently by name and number, and (iii) the beneficiary's bank pays the person identified by number as permitted by subsection (b)(1), the following rules apply: (1) If the originator is a bank, the originator is obliged to pay its order. (2) If the originator is not a bank and proves that the person identified by number was not entitled to receive payment from the originator, the originator is not obliged to pay its order unless the originator's bank proves that the originator, before acceptance of the originator's order, had notice that payment of a payment order issued by the originator might be made by the beneficiary's bank on the basis of an identifying or bank account number even if it identifies a person different from the named beneficiary. Proof of notice may be made by any admissible evidence. The originator's bank satisfies the burden of proof if it proves that the originator, before the payment order was accepted, signed a writing stating the information to which the notice relates. (d) In a case governed by subsection (b)(1), if the beneficiary's bank rightfully pays the person identified by number and that person was not entitled to receive payment from the originator, the amount paid may be recovered from that person to the extent allowed by the law governing mistake and restitution as follows: (1) If the originator is obliged to pay its payment order as stated in subsection (c), the originator has the right to recover. (2) If the originator is not a bank and is not obliged to pay its payment order, the originator's bank has the right to recover. Section 4A-208. Misdescription of Intermediary Bank or Beneficiary's Bank (a) This subsection applies to a payment order identifying an intermediary bank or the beneficiary's bank only by an identifying number. (1) The receiving bank may rely on the number as the proper identification of the intermediary or beneficiary's bank and need not determine whether the number identifies a bank. (2) The sender is obliged to compensate the receiving bank for any loss and expenses incurred by the receiving bank as a result of its reliance on the number in executing or attempting to execute the order. (b) This subsection applies to a payment order identifying an intermediary bank or the beneficiary's bank both by name and an identifying number if the name and number identify different persons. (1) If the sender is a bank, the receiving bank may rely on the number as the proper identification of the intermediary or beneficiary's bank if the receiving bank, when it executes the sender's order, does not know that the name and number identify different persons. The receiving bank need not determine whether the name and number refer to the same person or whether the number refers to a bank. The sender is obliged to compensate the receiving bank for any loss and expenses incurred by the receiving bank as a result of its reliance on the number in executing or attempting to execute the order. (2) If the sender is not a bank and the receiving bank proves that the sender, before [[Page 306]] the payment order was accepted, had notice that the receiving bank might rely on the number as the proper identification of the intermediary or beneficiary's bank even if it identifies a person different from the bank identified by name, the rights and obligations of the sender and the receiving bank are governed by subsection (b)(1), as though the sender were a bank. Proof of notice may be made by any admissible evidence. The receiving bank satisfies the burden of proof if it proves that the sender, before the payment order was accepted, signed a writing stating the information to which the notice relates. (3) Regardless of whether the sender is a bank, the receiving bank may rely on the name as the proper identification of the intermediary or beneficiary's bank if the receiving bank, at the time it executes the sender's order, does not know that the name and number identify different persons. The receiving bank need not determine whether the name and number refer to the same person. (4) If the receiving bank knows that the name and number identify different persons, reliance on either the name or the number in executing the sender's payment order is a breach of the obligation stated in section 4A-302(a)(1). Section 4A-209. Acceptance of Payment Order (a) Subject to subsection (d), a receiving bank other than the beneficiary's bank accepts a payment order when it executes the order. (b) Subject to subsections (c) and (d), a beneficiary's bank accepts a payment order at the earliest of the following times: (1) When the bank (i) pays the beneficiary as stated in section 4A- 405(a) or 4A-405(b), or (ii) notifies the beneficiary of receipt of the order or that the account of the beneficiary has been credited with respect to the order unless the notice indicates that the bank is rejecting the order or that funds with respect to the order may not be withdrawn or used until receipt of payment from the sender of the order; (2) When the bank receives payment of the entire amount of the sender's order pursuant to section 4A-403(a)(1) or (2); or (3) The opening of the next funds-transfer business day of the bank following the payment date of the order if, at that time, the amount of the sender's order is fully covered by a withdrawable credit balance in an authorized account of the sender or the bank has otherwise received full payment from the sender, unless the order was rejected before that time or is rejected within (i) one hour after that time, or (ii) one hour after the opening of the next business day of the sender following the payment date if that time is later. If notice of rejection is received by the sender after the payment date and the authorized account of the sender does not bear interest, the bank is obliged to pay interest to the sender on the amount of the order for the number of days elapsing after the payment date to the day the sender receives notice or learns that the order was not accepted, counting that day as an elapsed day. If the withdrawable credit balance during that period falls below the amount of the order, the amount of interest payable is reduced accordingly. (c) Acceptance of a payment order cannot occur before the order is received by the receiving bank. Acceptance does not occur under subsection (b)(2) or (3) if the beneficiary of the payment order does not have an account with the receiving bank, the account has been closed, or the receiving bank is not permitted by law to receive credits for the beneficiary's account. (d) A payment order issued to the originator's bank cannot be accepted until the payment date if the bank is the beneficiary's bank, or the execution date if the bank is not the beneficiary's bank. If the originator's bank executes the originator's payment order before the execution date or pays the beneficiary of the originator's payment order before the payment date and the payment order is subsequently canceled pursuant to section 4A-211(b), the bank may recover from the beneficiary any payment received to the extent allowed by the law governing mistake and restitution. Section 4A-210. Rejection of Payment Order (a) A payment order is rejected by the receiving bank by a notice of rejection transmitted to the sender orally, electronically, or in writing. A notice of rejection need not use any particular words and is sufficient if it indicates that the receiving bank is rejecting the order or will not execute or pay the order. Rejection is effective when the notice is given if transmission is by a means that is reasonable in the circumstances. If notice of rejection is given by a means that is not reasonable, rejection is effective when the notice is received. If an agreement of the sender and receiving bank establishes the means to be used to reject a payment order, (i) any means complying with the agreement is reasonable, and (ii) any means not complying is not reasonable unless no significant delay in receipt of the notice resulted from the use of the noncomplying means. (b) This subsection applies if a receiving bank other than the beneficiary's bank fails to execute a payment order despite the existence on the execution date of a withdrawable credit balance in an authorized account of the sender sufficient to cover the order. If the sender does not receive notice of rejection of the order on the execution date and the authorized account of the sender does not bear interest, the bank is obliged to pay interest to the sender on the amount of the [[Page 307]] order for the number of days elapsing after the execution date to the earlier of the day the order is canceled pursuant to section 4A-211(d) or the day the sender receives notice or learns that the order was not executed, counting the final day of the period as an elapsed day. If the withdrawable credit balance during that period falls below the amount of the order, the amount of interest is reduced accordingly. (c) If a receiving bank suspends payments, all unaccepted payment orders issued to it are deemed rejected at the time the bank suspends payments. (d) Acceptance of a payment order precludes a later rejection of the order. Rejection of a payment order precludes a later acceptance of the order. Section 4A-211. Cancellation and Amendment of Payment Order (a) A communication of the sender of a payment order canceling or amending the order may be transmitted to the receiving bank orally, electronically, or in writing. If a security procedure is in effect between the sender and the receiving bank, the communication is not effective to cancel or amend the order unless the communication is verified pursuant to the security procedure or the bank agrees to the cancellation or amendment. (b) Subject to subsection (a), a communication by the sender canceling or amending a payment order is effective to cancel or amend the order if notice of the communication is received at a time and in a manner affording the receiving bank a reasonable opportunity to act on the communication before the bank accepts the payment order. (c) After a payment order has been accepted, cancellation or amendment of the order is not effective unless the receiving bank agrees or a funds-transfer system rule allows cancellation or amendment without agreement of the bank. (1) With respect to a payment order accepted by a receiving bank other than the beneficiary's bank, cancellation or amendment is not effective unless a conforming cancellation or amendment of the payment order issued by the receiving bank is also made. (2) With respect to a payment order accepted by the beneficiary's bank, cancellation or amendment is not effective unless the order was issued in execution of an unauthorized payment order, or because of a mistake by a sender in the funds transfer which resulted in the issuance of a payment order (i) that is a duplicate of a payment order previously issued by the sender, (ii) that orders payment to a beneficiary not entitled to receive payment from the originator, or (iii) that orders payment in an amount greater than the amount the beneficiary was entitled to receive from the originator. If the payment order is canceled or amended, the beneficiary's bank is entitled to recover from the beneficiary any amount paid to the beneficiary to the extent allowed by the law governing mistake and restitution. (d) An unaccepted payment order is canceled by operation of law at the close of the fifth funds-transfer business day of the receiving bank after the execution date or payment date of the order. (e) A canceled payment order cannot be accepted. If an accepted payment order is canceled, the acceptance is nullified and no person has any right or obligation based on the acceptance. Amendment of a payment order is deemed to be cancellation of the original order at the time of amendment and issue of a new payment order in the amended form at the same time. (f) Unless otherwise provided in an agreement of the parties or in a funds-transfer system rule, if the receiving bank, after accepting a payment order, agrees to cancellation or amendment of the order by the sender or is bound by a funds-transfer system rule allowing cancellation or amendment without the bank's agreement, the sender, whether or not cancellation or amendment is effective, is liable to the bank for any loss and expenses, including reasonable attorney's fees, incurred by the bank as a result of the cancellation or amendment or attempted cancellation or amendment. (g) A payment order is not revoked by the death or legal incapacity of the sender unless the receiving bank knows of the death or of an adjudication of incapacity by a court of competent jurisdiction and has reasonable opportunity to act before acceptance of the order. (h) A funds-transfer system rule is not effective to the extent it conflicts with subsection (c)(2) of this section. Section 4A-212. Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or in this Article, but does not otherwise have any duty to accept a payment order or, before acceptance, to take any action, or refrain from taking action, with respect to the order except as provided in this Article or by express agreement. Liability based on acceptance arises only when acceptance occurs as stated in section 4A-209, and liability is limited to that provided in this Article. A receiving bank is not the agent of the sender or beneficiary of the payment order it accepts, or of any other party to the funds transfer, and the bank owes no duty to any party to the funds transfer except as provided in this Article or by express agreement. [[Page 308]] Part 3--Execution of Sender's Payment Order by Receiving Bank Section 4A-301. Execution and Execution Date (a) A payment order is ``executed'' by the receiving bank when it issues a payment order intended to carry out the payment order received by the bank. A payment order received by the beneficiary's bank can be accepted but cannot be executed. (b) Execution date of a payment order means the day on which the receiving bank may properly issue a payment order in execution of the sender's order. The execution date may be determined by instruction of the sender but cannot be earlier than the day the order is received and, unless otherwise determined, is the day the order is received. If the sender's instruction states a payment date, the execution date is the payment date or an earlier date on which execution is reasonably necessary to allow payment to the beneficiary on the payment date. Section 4A-302. Obligations of Receiving Bank in Execution of Payment Order (a) Except as provided in subsections (b) through (d), if the receiving bank accepts a payment order pursuant to section 4A-209(a), the bank has the following obligations in executing the order: (1) The receiving bank is obliged to issue, on the execution date, a payment order complying with the sender's order and to follow the sender's instructions concerning (i) any intermediary bank or funds- transfer system to be used in carrying out the funds transfer, or (ii) the means by which payment orders are to be transmitted in the funds transfer. If the originator's bank issues a payment order to an intermediary bank, the originator's bank is obliged to instruct the intermediary bank according to the instruction of the originator. An intermediary bank in the funds transfer is similarly bound by an instruction given to it by the sender of the payment order it accepts. (2) If the sender's instruction states that the funds transfer is to be carried out telephonically or by wire transfer or otherwise indicates that the funds transfer is to be carried out by the most expeditious means, the receiving bank is obliged to transmit its payment order by the most expeditious available means, and to instruct any intermediary bank accordingly. If a sender's instruction states a payment date, the receiving bank is obliged to transmit its payment order at a time and by means reasonably necessary to allow payment to the beneficiary on the payment date or as soon thereafter as is feasible. (b) Unless otherwise instructed, a receiving bank executing a payment order may (i) use any funds-transfer system if use of that system is reasonable in the circumstances, and (ii) issue a payment order to the beneficiary's bank or to an intermediary bank through which a payment order conforming to the sender's order can expeditiously be issued to the beneficiary's bank if the receiving bank exercises ordinary care in the selection of the intermediary bank. A receiving bank is not required to follow an instruction of the sender designating a funds-transfer system to be used in carrying out the funds transfer if the receiving bank, in good faith, determines that it is not feasible to follow the instruction or that following the instruction would unduly delay completion of the funds transfer. (c) Unless subsection (a)(2) applies or the receiving bank is otherwise instructed, the bank may execute a payment order by transmitting its payment order by first class mail or by any means reasonable in the circumstances. If the receiving bank is instructed to execute the sender's order by transmitting its payment order by the means stated or by any means as expeditious as the means stated. (d) Unless instructed by the sender, (i) the receiving bank may not obtain payment of its charges for services and expenses in connection with the execution of the sender's order by issuing a payment order in an amount equal to the amount of the sender's order less the amount of the charges, and (ii) may not instruct a subsequent receiving bank to obtain payment of its charges in the same manner. Section 4A-303. Erroneous Execution of Payment Order (a) A receiving bank that (i) executes the payment order of the sender by issuing a payment order in an amount greater than the amount of the sender's order, or (ii) issues a payment order in execution of the sender's order and then issues a duplicate order, is entitled to payment of the amount of the sender's order under section 4A-402(c) if that subsection is otherwise satisfied. The bank is entitled to recover from the beneficiary of the erroneous order the excess payment received to the extent allowed by the law governing mistake and restitution. (b) A receiving bank that executes the payment order of the sender by issuing a payment order in an amount less than the amount of the sender's order is entitled to payment of the amount of the sender's order under section 4A-402(c) if (i) that subsection is otherwise satisfied and (ii) the bank corrects its mistake by issuing an additional payment order for the benefit of the beneficiary of the sender's order. If the error is not corrected, the issuer of the erroneous order is entitled to receive or retain payment from the sender of the order it accepted only to the extent of the amount of the erroneous order. This subsection does not [[Page 309]] apply if the receiving bank executes the sender's payment order by issuing a payment order in an amount less than the amount of the sender's order for the purpose of obtaining payment of its charges for services and expenses pursuant to instruction of the sender. (c) If a receiving bank executes the payment order of the sender by issuing a payment order to a beneficiary different from the beneficiary of the sender's order and the funds transfer is completed on the basis of that error, the sender of the payment order that was erroneously executed and all previous senders in the funds transfer are not obliged to pay the payment orders they issued. The issuer of the erroneous order is entitled to recover from the beneficiary of the order the payment received to the extent allowed by the law governing mistake and restitution. Section 4A-304. Duty of Sender To Report Erroneously Executed Payment Order If the sender of a payment order that is erroneously executed as stated in section 4A-303 receives notification from the receiving bank that the order was executed or that the sender's account was debited with respect to the order, the sender has a duty to exercise ordinary care to determine, on the basis of information available to the sender, that the order was erroneously executed and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the notification from the bank was received by the sender. If the sender fails to perform that duty, the bank is not obliged to pay interest on any amount refundable to the sender under section 4A-402(d) for the period before the bank learns of the execution error. The bank is not entitled to any recovery from the sender on account of a failure by the sender to perform the duty stated in this section. Section 4A-305. Liability for Late or Improper Execution or Failure To Execute Payment Order (a) If a funds transfer is completed but execution of a payment order by the receiving bank in breach of section 4A-302 results in delay in payment to the beneficiary, the bank is obliged to pay interest to either the originator or the beneficiary of the funds transfer for the period of delay caused by the improper execution. Except as provided in subsection (c), additional damages are not recoverable. (b) If execution of a payment order by a receiving bank in breach of section 4A-302 results in (i) noncompletion of the funds transfer, (ii) failure to use an intermediary bank designated by the originator, or (iii) issuance of a payment order that does not comply with the terms of the payment order of the originator, the bank is liable to the originator for its expenses in the funds transfer and for incidental expenses and interest losses, to the extent not covered by subsection (a), resulting from the improper execution. Except as provided in subsection (c), additional damages are not recoverable. (c) In addition to the amounts payable under subsections (a) and (b), damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank. (d) If a receiving bank fails to execute a payment order it was obliged by express agreement to execute, the receiving bank is liable to the sender for its expenses in the transaction and for incidential expenses and interest losses resulting from the failure to execute. Additional damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank, but are not otherwise recoverable. (e) Reasonable attorney's fees are recoverable if demand for compensation under subsection (a) or (b) of this section is made and refused before an action is brought on the claim. If a claim is made for breach of an agreement under subsection (d) and the agreement does not provide for damages, reasonable attorney's fees are recoverable if demand for compensation under subsection (d) is made and refused before an action is brought on the claim. (f) Except as stated in this section, the liability of a receiving bank under subsections (a) and (b) of this section may not be varied by agreement. Part 4--Payment Section 4A-401. Payment Date Payment date of a payment order means the day on which the amount of the order is payable to the beneficiary by the beneficiary's bank. The payment date may be determined by instruction of the sender but cannot be earlier than the day the order is received by the beneficiary's bank and, unless otherwise determined, is the day the order is received by the beneficiary's bank. Section 4A-402. Obligation of Sender To Pay Receiving Bank (a) This section is subject to sections 4A-205 and 4A-207. (b) With respect to a payment order issued to the beneficiary's bank, acceptance of the order by the bank obliges the sender to pay the bank the amount of the order, but payment is not due until the payment date of the order. (c) This subsection is subject to subsection (e) and to section 4A- 303. With respect to a payment order issued to a receiving bank other than the beneficiary's bank, acceptance of the order by the receiving bank [[Page 310]] obliges the sender to pay the bank the amount of the sender's order. Payment by the sender is not due until the execution date of the sender's order. The obligation of that sender to pay its payment order is excused if the funds transfer is not completed by acceptance by the beneficiary's bank of a payment order instructing payment to the beneficiary of that sender's payment order. (d) If the sender of a payment order pays the order and was not obliged to pay all or part of the amount paid, the bank receiving payment is obliged to refund payment to the extent the sender was not obliged to pay. Except as provided in sections 4A-204 and 4A-304, interest is payable on the refundable amount from the date of payment. (e) If a funds transfer is not completed as stated in subsection (c) and an intermediary bank is obliged to refund payment as stated in subsection (d) but is unable to do so because not permitted by applicable law or because the bank suspends payments, a sender in the funds transfer that executed a payment order in compliance with an instruction, as stated in section 4A-302(a)(1), to route the funds transfer through that intermediary bank is entitled to receive or retain payment from the sender of the payment order that it accepted. The first sender in the funds transfer that issued an instruction requiring routing through that intermediary bank is subrogated to the right of the bank that paid the intermediary bank to refund as stated in subsection (d) of this section. (f) The right of the sender of a payment order to be excused from the obligation to pay the order as stated in this subsection (c) or to receive refund under subsection (d) may not be varied by agreement. Section 4A-403. Payment by Sender to Receiving Bank (a) Payment of the sender's obligation under section 4A-402 to pay the receiving bank occurs as follows: (1) If the sender is a bank, payment occurs when the receiving bank receives final settlement of the obligation through a Federal Reserve Bank or through a funds-transfer system. (2) If the sender is a bank and the sender (i) credited an account of the receiving bank with the sender, or (ii) caused an account of the receiving bank in another bank to be credited, payment occurs when the credit is withdrawn or, if not withdrawn, at midnight of the day on which the credit is withdrawable and the receiving bank learns of that fact. (3) If the receiving bank debits an account of the sender with the receiving bank, payment occurs when the debit is made to the extent the debit is covered by a withdrawable credit balance in the account. (b) If the sender and receiving bank are members of a funds-transfer system that nets obligations multilaterally among participants, the receiving bank receives final settlement when settlement is complete in accordance with the rules of the system. The obligation of the sender to pay the amount of a payment order transmitted through the funds-transfer system may be satisfied, to the extent permitted by the rules of the system, by setting off and applying against the sender's obligation the right of the sender to receive payment from the receiving bank of the amount of any other payment order transmitted to the sender by the receiving bank through the funds-transfer system. The aggregate balance of obligations owed by each sender to each receiving bank in the funds- transfer system may be satisfied, to the extent permitted by the rules of the system, by setting off and applying against that balance the aggregate balance of obligations owed to the sender by other members of the system. The aggregate balance is determined after the right of setoff stated in the second sentence of this subsection has been exercised. (c) If two banks transmit payment orders to each other under an agreement that settlement of the obligations of each bank to the other under section 4A-402 will be made at the end of the day or other period, the total amount owed with respect to all orders transmitted by one bank shall be set off against the total amount owed with respect to all orders transmitted by the other bank. To the extent of the setoff, each bank has made payment to the other. (d) In a case not covered by paragraph (a) of this section, the time when payment of the sender's obligation under section 4A-402(b) or 4A- 402(c) occurs is governed by applicable principles of law that determine when an obligation is satisfied. Section 4A-404. Obligation of Beneficiary's Bank to Pay and Give Notice to Beneficiary (a) Subject to sections 4A-211(e), 4A-405(d), and 4A-405(e), if a beneficiary's bank accepts a payment order, the bank is obliged to pay the amount of the order to the beneficiary of the order. Payment is due on the payment date of the order, but if acceptance occurs on the payment date after the close of the funds-transfer business day of the bank, payment is due on the next funds-transfer business day. If the bank refuses to pay after demand by the beneficiary and receipt of notice of particular circumstances that will give rise to consequential damages as a result of nonpayment, the beneficiary may recover damages resulting from the refusal to pay to the extent the bank had notice of the damages, unless the bank proves that it did not pay because of a reasonable doubt concerning the right of the beneficiary to payment. (b) If a payment order accepted by the beneficiary's bank instructs payment to an [[Page 311]] account of the beneficiary, the bank is obliged to notify the beneficiary of receipt of the order before midnight of the next funds- transfer business day following the payment date. If the payment order does not instruct payment to an account of the beneficiary, the bank is required to notify the beneficiary only if notice is required by the order. Notice may be given by first class mail or any other means reasonable in the circumstances. If the bank fails to give the required notice, the bank is obliged to pay interest to the beneficiary on the amount of the payment order from the day notice should have been given until the day the beneficiary learned of receipt of the payment order by the bank. No other damages are recoverable. Reasonable attorney's fees are also recoverable if demand for interest is made and refused before an action is brought on the claim. (c) The right of a beneficiary to receive payment and damages as stated in subsection (a) may not be varied by agreement or a funds- transfer system rule. The right of a beneficiary to be notified as stated in subsection (b) of this section may be varied by agreement of the beneficiary or by a funds-transfer system rule if the beneficiary is notified of the rule before initiation of the funds transfer. Section 4A-405. Payment by Beneficiary's Bank To Beneficiary (a) If the beneficiary's bank credits an account of the beneficiary of a payment order, payment of the bank's obligation under section 4A- 404(a) occurs when and to the extent (i) the beneficiary is notified of the right to withdraw the credit, (ii) the bank lawfully applies the credit to a debt of the beneficiary, or (iii) funds with respect to the order are otherwise made available to the beneficiary by the bank. (b) If the beneficiary's bank does not credit an account of the beneficiary of a payment order, the time when payment of the bank's obligation under section 4A-404(a) occurs is governed by principles of law that determine when an obligation is satisfied. (c) Except as stated in paragraphs (d) and (e) of this section, if the beneficiary's bank pays the beneficiary of a payment order under a condition to payment or agreement of the beneficiary giving the bank the right to recover payment from the beneficiary if the bank does not receive payment of the order, the condition to payment or agreement is not enforceable. (d) A funds-transfer system rule may provide that payments made to beneficiaries of funds transfer made through the system are provisional until receipt of payment by the beneficiary's bank of the payment order it accepted. A beneficiary's bank that makes a payment that is provisional under the rule is entitled to refund from the beneficiary if (i) the rule requires that both the beneficiary and the originator be given notice of the provisional nature of the payment before the funds transfer is initiated, (ii) the beneficiary, the beneficiary's bank and the originator's bank agreed to be bound by the rule, and (iii) the beneficiary's bank did not receive payment of the payment order that it accepted. If the beneficiary is obliged to refund payment to the beneficiary's bank, acceptance of the payment order by the beneficiary's bank is nullified and no payment by the originator of the funds transfer to the beneficiary occurs under section 4A-406. (e) This paragraph applies to a funds transfer that includes a payment order transmitted over a funds-transfer system that (i) nets obligations-multilaterally among participants, and (ii) has in effect a loss-sharing agreement among participants for the purpose of providing funds necessary to complete settlement of the obligations of one or more participants that do not meet their settlement obligations. If the beneficiary's bank in the funds transfer accepts a payment order and the system fails to complete settlement pursuant to its rules with respect to any payment order in the funds transfer, (i) the acceptance by the beneficiary's bank is nullified and no person has any right or obligation based on the acceptance, (ii) the beneficiary's bank is entitled to recover payment from the beneficiary, (iii) no payment by the originator to the beneficiary occurs under section 4A-406, and (iv) subject to section 4A-402(e), each sender in the funds transfer is excused from its obligation to pay its payment order under section 4A- 402(c) because the funds transfer has not been completed. Section 4A-406. Payment by Originator to Beneficiary; Discharge of Underlying Obligation (a) Subject to sections 4A-211(e), 4A-405(d), and 4A-405(e), the originator of a funds transfer pays the beneficiary of the originator's payment order (i) at the time a payment order for the benefit of the beneficiary is accepted by the beneficiary's bank in the funds transfer and (ii) in an amount equal to the amount of the order *40813 accepted by the beneficiary's bank, but not more than the amount of the originator's order. (b) If payment under paragraph (a) of this section is made to satisfy an obligation, the obligation is discharged to the same extent discharge would result from payment to the beneficiary of the same amount in money, unless (i) the payment under subsection (a) was made by a means prohibited by the contract of the beneficiary with respect to the obligation; (ii) the beneficiary, within a reasonable time after receiving notice of receipt of the order by the beneficiary's bank, notified the originator of the beneficiary's refusal of the payment; (iii) funds with respect [[Page 312]] to the order were not withdrawn by the beneficiary or applied to a debt of the beneficiary; and (iv) the beneficiary would suffer a loss that could reasonably have been avoided if payment had been made by a means complying with the contract. If payment by the originator does not result in discharge under this section, the originator is subrogated to the rights of the beneficiary to receive payment from the beneficiary's bank under section 4A-404(a). (c) For the purpose of determining whether discharge of an obligation occurs under paragraph (b) of this section, if the beneficiary's bank accepts a payment order in an amount equal to the amount of the originator's payment order less charges of one or more receiving banks in the funds transfer, payment to the beneficiary is deemed to be in the amount of the originator's order unless upon demand by the beneficiary the originator does not pay the beneficiary the amount of the deducted charges. (d) Rights of the originator or of the beneficiary of a funds transfer under this section may be varied only by agreement of the originator and the beneficiary. Part 5--Miscellaneous Provisions Section 4A-501. Variation by Agreement and Effect of Funds-Transfer System Rule (a) Except as otherwise provided in this Article, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party. (b) Funds-transfer system rule means a rule of an association of banks (i) governing transmission of payment orders by means of a funds- transfer system of the association or rights and obligations with respect to those orders, or (ii) to the extent the rule governs rights and obligations between banks that are parties to a funds transfer in which a Federal Reserve Bank, acting as an intermediary bank, sends a payment order to the beneficiary's bank. Except as otherwise provided in this Article, a funds-transfer system rule governing rights and obligations between participating banks using the system may be effective even if the rule conflicts with this Article and indirectly affects another party to the funds transfer who does not consent to the rule. A funds-transfer system rule may also govern rights and obligations of parties other than participating banks using the system to the extent stated in sections 4A-404(c), 4A-405(d), and 4A-507(c). Section 4A-502. Creditor Process Served on Receiving Bank; Setoff by Beneficiary's Bank (a) As used in this section, creditor process means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant with respect to an account. (b) This subsection applies to creditor process with respect to an authorized account of the sender of a payment order if the creditor process is served on the receiving bank. For the purpose of determining rights with respect to the creditor process, if the receiving bank accepts the payment order the balance in the authorized account is deemed to be reduced by the amount of the payment order to the extent the bank did not otherwise receive payment of the order, unless the creditor process is served at a time and in a manner affording the bank a reasonable opportunity to act on it before the bank accepts the payment order. (c) If a beneficiary's bank has received a payment order for payment to the beneficiary's account in the bank, the following rules apply: (1) The bank may credit the beneficiary's account. The amount credited may be set off against an obligation owed by the beneficiary to the bank or may be applied to satisfy creditor process served on the bank with respect to the account. (2) The bank may credit the beneficiary's account and allow withdrawal of the amount credited unless creditor process with respect to the account is served at a time and in a manner affording the bank a reasonable opportunity to act to prevent withdrawal. (3) If creditor process with respect to the beneficiary's account has been served and the bank has had a reasonable opportunity to act on it, the bank may not reject the payment order except for a reason unrelated to the service of process. (d) Creditor process with respect to a payment by the originator to the beneficiary pursuant to a funds transfer may be served only on the beneficiary's bank with respect to the debt owned by that bank to the beneficiary. Any other bank served with the creditor process is not obliged to act with respect to the process. Section 4A-503. Injunction or Restraining Order With Respect to Funds Transfer For proper cause and in compliance with applicable law, a court may restrain: (i) a person from issuing a payment order to initiate a funds transfer, (ii) an originator's bank from executing the payment order of the originator, or (iii) the beneficiary's bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds. A court may not otherwise restrain a person from issuing a payment order, paying or receiving payment of a payment order, or otherwise acting with respect to a funds transfer. [[Page 313]] Section 4A-504. Order In Which Items and Payment Orders May Be Charged to Account; Order of Withdrawals from Account (a) If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender's account, the bank may charge the sender's account with respect to the various orders and items in any sequence. (b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied. Section 4A-505. Preclusion of Objection to Debit of Customer's Account If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank, and the customer received notification reasonably identifying the order, the customer is precluded from asserting that the bank is not entitled to retain the payment unless the customer notifies the bank of the customer's objection to the payment within one year after the notification was received by the customer. Section 4A-506. Rate of Interest (a) If, under this Article, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may be determined (i) by agreement of the sender and receiving bank, or (ii) by a funds-transfer system rule if the payment order is transmitted through a funds-transfer system. (b) If the amount of interest is not determined by an agreement or rule as stated in subsection (a), the amount is calculated by multiplying the applicable Federal Funds rate by the amount on which interest is payable, and then multiplying the product by the number of days for which interest is payable. The applicable Federal Funds rate is the average of the Federal Funds rates published by the Federal Reserve Bank of New York for each of the days for which interest is payable divided by 360. The Federal Funds rate for any day on which a published rate is not available is the same as the published rate for the next preceding day for which there is a published rate. If a receiving bank that accepted a payment order is required to refund payment to the sender of the order because the funds transfer was not completed, but the failure to complete was not due to any fault by the bank, the interest payable is reduced by a percentage equal to the reserve requirement on deposits of the receiving bank. Section 4A-507. Choice of Law (a) The following rules apply unless the affected parties otherwise agree or paragraph (c) of this section applies: (1) The rights and obligations between the sender of a payment order and the receiving bank are governed by the law of the jurisdiction in which the receiving bank is located. (2) The rights and obligations between the beneficiary's bank and the beneficiary are governed by the law of the jurisdiction in which the beneficiary's bank is located. (3) The issue of when payment is made pursuant to a funds transfer by the originator to the beneficiary is governed by the law of the jurisdiction in which the beneficiary's bank is located. (b) If the parties described in each subsection of paragraph (a) of this section have made an agreement selecting the law of a particular jurisdiction to govern rights and obligations between each other, the law of that jurisdiction governs those rights and obligations, whether or not the payment order or the funds transfer bears a reasonable relation to that jurisdiction. (c) A funds-transfer system rule may select the law of a particular jurisdiction to govern (i) rights and obligations between participating banks with respect to payment orders transmitted or processed through the system, or (ii) the rights and obligations of some or all parties to a funds transfer any part of which is carried out by means of the system. A choice of law made pursuant to clause (i) is binding on participating banks. A choice of law made pursuant to clause (ii) is binding on the originator, other sender, or a receiving bank having notice that the funds-transfer system might be used in the funds transfer and of the choice of law by the system when the originator, other sender, or receiving bank issued or accepted a payment order. The beneficiary of a funds transfer is bound by the choice of law if, when the funds transfer is initiated, the beneficiary has notice that the funds-transfer system might be used in the funds transfer and of the choice of law by the system. The law of a jurisdiction selected pursuant to this subsection may govern, whether or not that law bears a reasonable relation to the matter in issue. (d) In the event of inconsistency between an agreement under paragraph (b) of this section and a choice-of-law rule under paragraph (c) of this section, the agreement under paragraph (b) prevails. (e) If a funds transfer is made by use of more than one funds- transfer system and there is inconsistency between choice-of-law rules of the systems, the matter in issue is governed by the law of the selected jurisdiction that has the most significant relationship to the matter in issue. [Reg. J, 87 FR 34369, June 6, 2022] [[Page 314]] PART 211_INTERNATIONAL BANKING OPERATIONS (REGULATION K)--Table of Contents Subpart A_International Operations of U.S. Banking Organizations Sec. 211.1 Authority, purpose, and scope. 211.2 Definitions. 211.3 Foreign branches of U.S. banking organizations. 211.4 Permissible investments and activities of foreign branches of member banks. 211.5 Edge and agreement corporations. 211.6 Permissible activities of Edge and agreement corporations in the United States. 211.7 Voluntary liquidation of Edge and agreement corporations. 211.8 Investments and activities abroad. 211.9 Investment procedures. 211.10 Permissible activities abroad. 211.11 Advisory opinions under Regulation K. 211.12 Lending limits and capital requirements. 211.13 Supervision and reporting. Subpart B_Foreign Banking Organizations 211.20 Authority, purpose, and scope. 211.21 Definitions. 211.22 Interstate banking operations of foreign banking organizations. 211.23 Nonbanking activities of foreign banking organizations. 211.24 Approval of offices of foreign banks; procedures for applications; standards for approval; representative office activities and standards for approval; preservation of existing authority. 211.25 Termination of offices of foreign banks. 211.26 Examination of offices and affiliates of foreign banks. 211.27 Disclosure of supervisory information to foreign supervisors. 211.28 Provisions applicable to branches and agencies: limitation on loans to one borrower. 211.29 Applications by state branches and state agencies to conduct activities not permissible for federal branches. 211.30 Criteria for evaluating the U.S. operations of foreign banks not subject to consolidated supervision. Subpart C_Export Trading Companies 211.31 Authority, purpose, and scope. 211.32 Definitions. 211.33 Investments and extensions of credit. 211.34 Procedures for filing and processing notices. Subpart D_International Lending Supervision 211.41 Authority, purpose, and scope. 211.42 Definitions. 211.43 Allocated transfer risk reserve. 211.44 Reporting and disclosure of international assets. 211.45 Accounting for fees on international loans. Interpretations 211.601 Status of certain offices for purposes of the International Banking Act restrictions on interstate banking operations. 211.602 Investments by United States banking organizations in foreign companies that transact business in the United States. 211.603 Commodity swap transactions. 211.604 Data processing activities. 211.605 Permissible underwriting activities of foreign banks. Authority: 12 U.S.C. 221 et seq., 1818, 1835a, 1841 et seq., 3101 et seq., 3901 et seq., and 5101 et seq.; 15 U.S.C. 1681s, 1681w, 6801 and 6805. Subpart A_International Operations of U.S. Banking Organizations Source: Reg. K, 66 FR 54374, Oct. 26, 2001, unless otherwise noted. Sec. 211.1 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board of Governors of the Federal Reserve System (Board) under the authority of the Federal Reserve Act (FRA) (12 U.S.C. 221 et seq.); the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1841 et seq.); and the International Banking Act of 1978 (IBA) (12 U.S.C. 3101 et seq.). (b) Purpose. This subpart sets out rules governing the international and foreign activities of U.S. banking organizations, including procedures for establishing foreign branches and Edge and agreement corporations to engage in international banking, and for investments in foreign organizations. (c) Scope. This subpart applies to: (1) Member banks with respect to their foreign branches and investments in foreign banks under section 25 of the FRA (12 U.S.C. 601- 604a);\1\ and --------------------------------------------------------------------------- \1\ Section 25 of the FRA (12 U.S.C. 601-604a), which refers to national banking associations, also applies to state member banks of the Federal Reserve System by virtue of section 9 of the FRA (12 U.S.C. 321) --------------------------------------------------------------------------- [[Page 315]] (2) Corporations organized under section 25A of the FRA (12 U.S.C. 611-631) (Edge corporations); (3) Corporations having an agreement or undertaking with the Board under section 25 of the FRA (12 U.S.C. 601-604a) (agreement corporations); and (4) Bank holding companies with respect to the exemption from the nonbanking prohibitions of the BHC Act afforded by section 4(c)(13) of that act (12 U.S.C. 1843(c)(13)). Sec. 211.2 Definitions. Unless otherwise specified, for purposes of this subpart: (a) An affiliate of an organization means: (1) Any entity of which the organization is a direct or indirect subsidiary; or (2) Any direct or indirect subsidiary of the organization or such entity. (b) Capital and surplus means, unless otherwise provided in this part: (1) For organizations subject to the capital rule: (i) Tier 1 and tier 2 capital included in an organization's risk- based capital (under the capital rule); and (ii) The balance of allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, not included in an organization's tier 2 capital for calculation of risk-based capital, based on the organization's most recent consolidated Report of Condition and Income. (iii) For qualifying community banking organizations (as defined in Sec. 217.12 of this chapter) that are subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), tier 1 capital (as defined in Sec. 217.2 of this chapter and calculated in accordance with Sec. 217.12(b) of this chapter) plus allowances for loan and lease losses or adjusted allowance for credit losses, as applicable. (2) For all other organizations, paid-in and unimpaired capital and surplus, and includes undivided profits but does not include the proceeds of capital notes or debentures. (c) Capital rule means part 217 of this chapter. (d) Directly or indirectly, when used in reference to activities or investments of an organization, means activities or investments of the organization or of any subsidiary of the organization. (e) Eligible country means any country: (1) For which an allocated transfer risk reserve is required pursuant to Sec. 211.43 of this part and that has restructured its sovereign debt held by foreign creditors; and (2) Any other country that the Board deems to be eligible. (f) An Edge corporation is engaged in banking if it is ordinarily engaged in the business of accepting deposits in the United States from nonaffiliated persons. (g) Engaged in business or engaged in activities in the United States means maintaining and operating an office (other than a representative office) or subsidiary in the United States. (h) Equity means an ownership interest in an organization, whether through: (1) Voting or nonvoting shares; (2) General or limited partnership interests; (3) Any other form of interest conferring ownership rights, including warrants, debt, or any other interests that are convertible into shares or other ownership rights in the organization; or (4) Loans that provide rights to participate in the profits of an organization, unless the investor receives a determination that such loans should not be considered equity in the circumstances of the particular investment. (i) Foreign or foreign country refers to one or more foreign nations, and includes the overseas territories, dependencies, and insular possessions of those nations and of the United States, and the Commonwealth of Puerto Rico. (j) Foreign bank means an organization that: (1) Is organized under the laws of a foreign country; (2) Engages in the business of banking; (3) Is recognized as a bank by the bank supervisory or monetary authority of the country of its organization or principal banking operations; [[Page 316]] (4) Receives deposits to a substantial extent in the regular course of its business; and (5) Has the power to accept demand deposits. (k) Foreign branch means an office of an organization (other than a representative office) that is located outside the country in which the organization is legally established and at which a banking or financing business is conducted. (l) Foreign person means an office or establishment located outside the United States, or an individual residing outside the United States. (m) Investment means: (1) The ownership or control of equity; (2) Binding commitments to acquire equity; (3) Contributions to the capital and surplus of an organization; or (4) The holding of an organization's subordinated debt when the investor and the investor's affiliates hold more than 5 percent of the equity of the organization. (n) Investment grade means a security that is rated in one of the four highest rating categories by: (1) Two or more NRSROs; or (2) One NRSRO if the security has been rated by only one NRSRO. (o) Investor means an Edge corporation, agreement corporation, bank holding company, or member bank. (p) Joint venture means an organization that has 20 percent or more of its voting shares held directly or indirectly by the investor or by an affiliate of the investor under any authority, but which is not a subsidiary of the investor or of an affiliate of the investor. (q) Loans and extensions of credit means all direct and indirect advances of funds to a person made on the basis of any obligation of that person to repay the funds. (r) NRSRO means a nationally recognized statistical rating organization as designated by the Securities and Exchange Commission. (s) Organization means a corporation, government, partnership, association, or any other entity. (t) Person means an individual or an organization. (u) Portfolio investment means an investment in an organization other than a subsidiary or joint venture. (v) Representative office means an office that: (1) Engages solely in representational and administrative functions (such as soliciting new business or acting as liaison between the organization's head office and customers in the United States); and (2) Does not have authority to make any business decision (other than decisions relating to its premises or personnel) for the account of the organization it represents, including contracting for any deposit or deposit-like liability on behalf of the organization. (w) Subsidiary means an organization that has more than 50 percent of its voting shares held directly or indirectly, or that otherwise is controlled or capable of being controlled, by the investor or an affiliate of the investor under any authority. Among other circumstances, an investor is considered to control an organization if: (1) The investor or an affiliate is a general partner of the organization; or (2) The investor and its affiliates directly or indirectly own or control more than 50 percent of the equity of the organization. (x) Tier 1 capital has the same meaning as provided in Sec. 217.2 of this chapter. A qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), calculates its tier 1 capital in accordance with Sec. 217.12(b) of this chapter. (y) Well capitalized means: (1) In relation to a parent member or insured bank, that the standards set out in Sec. 208.43(b)(1) of Regulation H (12 CFR 208.43(b)(1)) are satisfied; (2) In relation to a bank holding company, that the standards set out in Sec. 225.2(r)(1) of Regulation Y (12 CFR 225.2(r)(1)) are satisfied; and (3) In relation to an Edge or agreement corporation, that it has tier 1 and total risk-based capital ratios of 6.0 and 10.0 percent, respectively, or greater. (z) Well managed means that the Edge or agreement corporation, any parent [[Page 317]] insured bank, and the bank holding company either received a composite rating of 1 or 2 or is considered satisfactory under the applicable rating system, and has at least a satisfactory rating for management if such a rating is given, at their most recent examination or review. [Reg. K, 66 FR 54374, Oct. 26, 2001, as amended at 83 FR 58734, Nov. 21, 2018; 84 FR 4241, Feb. 14, 2019; 84 FR 61797, Nov. 13, 2019] Sec. 211.3 Foreign branches of U.S. banking organizations. (a) General--(1) Definition of banking organization. For purposes of this section, a banking organization is defined as a member bank and its affiliates. (2) A banking organization is considered to be operating a branch in a foreign country if it has an affiliate that is a member bank, Edge or agreement corporation, or foreign bank that operates an office (other than a representative office) in that country. (3) For purposes of this subpart, a foreign office of an operating subsidiary of a member bank shall be treated as a foreign branch of the member bank and may engage only in activities permissible for a branch of a member bank. (4) At any time upon notice, the Board may modify or suspend branching authority conferred by this section with respect to any banking organization. (b)(1) Establishment of foreign branches. (i) Foreign branches may be established by any member bank having capital and surplus of $1,000,000 or more, an Edge corporation, an agreement corporation, any subsidiary the shares of which are held directly by the member bank, or any other subsidiary held pursuant to this subpart. (ii) The Board grants its general consent under section 25 of the FRA (12 U.S.C. 601-604a) for a member bank to establish a branch in the Commonwealth of Puerto Rico and the overseas territories, dependencies, and insular possessions of the United States. (2) Prior notice. Unless otherwise provided in this section, the establishment of a foreign branch requires 30 days' prior written notice to the Board. (3) Branching into additional foreign countries. After giving the Board 12 business days prior written notice, a banking organization that operates branches in two or more foreign countries may establish a branch in an additional foreign country. (4) Additional branches within a foreign country. No prior notice is required to establish additional branches in any foreign country where the banking organization operates one or more branches. (5) Branching by nonbanking affiliates. No prior notice is required for a nonbanking affiliate of a banking organization (i.e., an organization that is not a member bank, an Edge or agreement corporation, or foreign bank) to establish branches within a foreign country or in additional foreign countries. (6) Expiration of branching authority. Authority to establish branches, when granted following prior written notice to the Board, shall expire one year from the earliest date on which the authority could have been exercised, unless extended by the Board. (c) Reporting. Any banking organization that opens, closes, or relocates a branch shall report such change in a manner prescribed by the Board. (d) Reserves of foreign branches of member banks. Member banks shall maintain reserves against foreign branch deposits when required by Regulation D (12 CFR part 204). (e) Conditional approval; access to information. The Board may impose such conditions on authority granted by it under this section as it deems necessary, and may require termination of any activities conducted under authority of this section if a member bank is unable to provide information on its activities or those of its affiliates that the Board deems necessary to determine and enforce compliance with U.S. banking laws. Sec. 211.4 Permissible activities and investments of foreign branches of member banks. (a) Permissible activities and investments. In addition to its general banking powers, and to the extent consistent with its charter, a foreign branch of a member bank may engage in the following activities and make the following investments, so far as is usual in connection with the business [[Page 318]] of banking in the country where it transacts business: (1) Guarantees. Guarantee debts, or otherwise agree to make payments on the occurrence of readily ascertainable events (including, but not limited to, nonpayment of taxes, rentals, customs duties, or costs of transport, and loss or nonconformance of shipping documents) if the guarantee or agreement specifies a maximum monetary liability; however, except to the extent that the member bank is fully secured, it may not have liabilities outstanding for any person on account of such guarantees or agreements which, when aggregated with other unsecured obligations of the same person, exceed the limit contained in section 5200(a)(1) of the Revised Statutes (12 U.S.C. 84) for loans and extensions of credit; (2) Government obligations. (i) Underwrite, distribute, buy, sell, and hold obligations of: (A) The national government of the country where the branch is located and any political subdivision of that country; (B) An agency or instrumentality of the national government of the country where the branch is located where such obligations are supported by the taxing authority, guarantee, or full faith and credit of that government; (C) The national government or political subdivision of any country, where such obligations are rated investment grade; and (D) An agency or instrumentality of any national government where such obligations are rated investment grade and are supported by the taxing authority, guarantee or full faith and credit of that government. (ii) No member bank, under authority of this paragraph (a)(2), may hold, or be under commitment with respect to, such obligations for its own account in relation to any one country in an amount exceeding the greater of: (A) 10 percent of its tier 1 capital; or (B) 10 percent of the total deposits of the bank's branches in that country on the preceding year-end call report date (or the date of acquisition of the branch, in the case of a branch that has not been so reported); (3) Other investments. (i) Invest in: (A) The securities of the central bank, clearinghouses, governmental entities other than those authorized under paragraph (a)(2) of this section, and government-sponsored development banks of the country where the foreign branch is located; (B) Other debt securities eligible to meet local reserve or similar requirements; and (C) Shares of automated electronic-payments networks, professional societies, schools, and the like necessary to the business of the branch; (ii) The total investments of a bank's branches in a country under this paragraph (a)(3) (exclusive of securities held as required by the law of that country or as authorized under section 5136 of the Revised Statutes (12 U.S.C. 24, Seventh)) may not exceed 1 percent of the total deposits of the bank's branches in that country on the preceding year- end call report date (or on the date of acquisition of the branch, in the case of a branch that has not been so reported); (4) Real estate loans. Take liens or other encumbrances on foreign real estate in connection with its extensions of credit, whether or not of first priority and whether or not the real estate has been improved; (5) Insurance. Act as insurance agent or broker; (6) Employee benefits program. Pay to an employee of the branch, as part of an employee benefits program, a greater rate of interest than that paid to other depositors of the branch; (7) Repurchase agreements. Engage in repurchase agreements involving securities and commodities that are the functional equivalents of extensions of credit; (8) Investment in subsidiaries. With the Board's prior approval, acquire all of the shares of a company (except where local law requires other investors to hold directors' qualifying shares or similar types of instruments) that engages solely in activities: (i) In which the member bank is permitted to engage; or (ii) That are incidental to the activities of the foreign branch. (b) Other activities. With the Board's prior approval, engage in other activities that the Board determines are [[Page 319]] usual in connection with the transaction of the business of banking in the places where the member bank's branches transact business. Sec. 211.5 Edge and agreement corporations. (a) Board Authority. The Board shall have the authority to approve: (1) The establishment of Edge corporations; (2) Investments in agreement corporations; and (3) A member bank's proposal to invest more than 10 percent of its capital and surplus in the aggregate amount of stock held in all Edge and agreement corporations. (b) Organization of an Edge corporation--(1) Permit. A proposed Edge corporation shall become a body corporate when the Board issues a permit approving its proposed name, articles of association, and organization certificate. (2) Name. The name of the Edge corporation shall include international, foreign, overseas, or a similar word, but may not resemble the name of another organization to an extent that might mislead or deceive the public. (3) Federal Register notice. The Board shall publish in the Federal Register notice of any proposal to organize an Edge corporation and shall give interested persons an opportunity to express their views on the proposal. (4) Factors considered by Board. The factors considered by the Board in acting on a proposal to organize an Edge corporation include: (i) The financial condition and history of the applicant; (ii) The general character of its management; (iii) The convenience and needs of the community to be served with respect to international banking and financing services; and (iv) The effects of the proposal on competition. (5) Authority to commence business. After the Board issues a permit, the Edge corporation may elect officers and otherwise complete its organization, invest in obligations of the U.S. government, and maintain deposits with depository institutions, but it may not exercise any other powers until at least 25 percent of the authorized capital stock specified in the articles of association has been paid in cash, and each shareholder has paid in cash at least 25 percent of that shareholder's stock subscription. (6) Expiration of unexercised authority. Unexercised authority to commence business as an Edge corporation shall expire one year after issuance of the permit, unless the Board extends the period. (c) Other provisions regarding Edge corporations--(1) Amendments to articles of association. No amendment to the articles of association shall become effective until approved by the Board. (2) Shareholders' meeting. An Edge corporation shall provide in its bylaws that: (i) A shareholders' meeting shall be convened at the request of the Board within five business days after the Board gives notice of the request to the Edge corporation; (ii) Any shareholder or group of shareholders that owns or controls 25 percent or more of the shares of the Edge corporation shall attend such a meeting in person or by proxy; and (iii) Failure by a shareholder or authorized representative to attend such meeting in person or by proxy may result in removal or barring of the shareholder or representative from further participation in the management or affairs of the Edge corporation. (3) Nature and ownership of shares--(i) Shares. Shares of stock in an Edge corporation may not include no-par-value shares and shall be issued and transferred only on its books and in compliance with section 25A of the FRA (12 U.S.C. 611 et seq.) and this subpart. (ii) Contents of share certificates. The share certificates of an Edge corporation shall: (A) Name and describe each class of shares, indicating its character and any unusual attributes, such as preferred status or lack of voting rights; and (B) Conspicuously set forth the substance of: (1) Any limitations on the rights of ownership and transfer of shares imposed by section 25A of the FRA (12 U.S.C. 611 et seq.); and [[Page 320]] (2) Any rules that the Edge corporation prescribes in its bylaws to ensure compliance with this paragraph (c). (4) Change in status of shareholder. Any change in status of a shareholder that causes a violation of section 25A of the FRA (12 U.S.C. 611 et seq.) shall be reported to the Board as soon as possible, and the Edge corporation shall take such action as the Board may direct. (d) Ownership of Edge corporations by foreign institutions--(1) Prior Board approval. One or more foreign or foreign-controlled domestic institutions referred to in section 25A(11) of the FRA (12 U.S.C. 619) may apply for the Board's prior approval to acquire, directly or indirectly, a majority of the shares of the capital stock of an Edge corporation. (2) Conditions and requirements. Such an institution shall: (i) Provide the Board with information related to its financial condition and activities and such other information as the Board may require; (ii) Ensure that any transaction by an Edge corporation with an affiliate \2\ is on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions by the Edge corporation with nonaffiliated persons, and does not involve more than the normal risk of repayment or present other unfavorable features; --------------------------------------------------------------------------- \2\ For purposes of this paragraph (d)(2), affiliate means any organization that would be an affiliate under section 23A of the FRA (12 U.S.C. 371c) if the Edge corporation were a member bank. --------------------------------------------------------------------------- (iii) Ensure that the Edge corporation will not provide funding on a continual or substantial basis to any affiliate or office of the foreign institution through transactions that would be inconsistent with the international and foreign business purposes for which Edge corporations are organized; and (iv) Comply with the limitation on aggregate investments in all Edge and agreement corporations set forth in paragraph (h) of this section. (3) Foreign institutions not subject to the BHC Act. In the case of a foreign institution not subject to section 4 of the BHC Act (12 U.S.C. 1843), that institution shall: (i) Comply with any conditions that the Board may impose that are necessary to prevent undue concentration of resources, decreased or unfair competition, conflicts of interest, or unsound banking practices in the United States; and (ii) Give the Board 30 days' prior written notice before engaging in any nonbanking activity in the United States, or making any initial or additional investments in another organization, that would require prior Board approval or notice by an organization subject to section 4 of the BHC Act (12 U.S.C. 1843); in connection with such notice, the Board may impose conditions necessary to prevent adverse effects that may result from such activity or investment. (e) Change in control of an Edge corporation--(1) Prior notice. (i) Any person shall give the Board 60 days' prior written notice before acquiring, directly or indirectly, 25 percent or more of the voting shares, or otherwise acquiring control, of an Edge corporation. (ii) The Board may extend the 60-day period for an additional 30 days by notifying the acquiring party. (iii) A notice under this paragraph (e) need not be filed where a change in control is effected through a transaction requiring the Board's approval under section 3 of the BHC Act (12 U.S.C. 1842). (2) Board review. In reviewing a notice filed under this paragraph (e), the Board shall consider the factors set forth in paragraph (b)(4) of this section, and may disapprove a notice or impose any conditions that it finds necessary to assure the safe and sound operation of the Edge corporation, to assure the international character of its operation, and to prevent adverse effects, such as decreased or unfair competition, conflicts of interest, or undue concentration of resources. (f) Domestic branching by Edge corporations--(1) Prior notice. (i) An Edge corporation may establish branches in the United States 30 days after the Edge corporation has given written notice of its intention to do so to its Reserve Bank, unless the Edge corporation is notified to the contrary within that time. [[Page 321]] (ii) The notice to the Reserve Bank shall include a copy of the notice of the proposal published in a newspaper of general circulation in the communities to be served by the branch. (iii) The newspaper notice may appear no earlier than 90 calendar days prior to submission of notice of the proposal to the Reserve Bank. The newspaper notice shall provide an opportunity for the public to give written comment on the proposal to the appropriate Federal Reserve Bank for at least 30 days after the date of publication. (2) Factors considered. The factors considered in acting upon a proposal to establish a branch are enumerated in paragraph (b)(4) of this section. (3) Expiration of authority. Authority to establish a branch under prior notice shall expire one year from the earliest date on which that authority could have been exercised, unless the Board extends the period. (g) Agreement corporations--(1) General. With the prior approval of the Board, a member bank or bank holding company may invest in a federally or state-chartered corporation that has entered into an agreement or undertaking with the Board that it will not exercise any power that is impermissible for an Edge corporation under this subpart. (2) Factors considered by Board. The factors considered in acting upon a proposal to establish an agreement corporation are enumerated in paragraph (b)(4) of this section. (h)(1) Limitation on investment in Edge and agreement corporations. A member bank may invest up to 10 percent of its capital and surplus in the capital stock of Edge and agreement corporations or, with the prior approval of the Board, up to 20 percent of its capital and surplus in such stock. (2) Factors considered by Board. The factors considered by the Board in acting on a proposal under paragraph (h)(1) of this section shall include: (i) The composition of the assets of the bank's Edge and agreement corporations; (ii) The total capital invested by the bank in its Edge and agreement corporations when combined with retained earnings of the Edge and agreement corporations (including amounts invested in and retained earnings of any foreign bank subsidiaries) as a percentage of the bank's capital; (iii) Whether the bank, bank holding company, and Edge and agreement corporations are well-capitalized and well-managed; (iv) Whether the bank is adequately capitalized after deconsolidating and deducting the aggregate investment in and assets of all Edge or agreement corporations and all foreign bank subsidiaries; and (v) Any other factor the Board deems relevant to the safety and soundness of the member bank. (i) Reserve requirements and interest rate limitations. The deposits of an Edge or agreement corporation are subject to Regulations D and Q (12 CFR parts 204 and 217) in the same manner and to the same extent as if the Edge or agreement corporation were a member bank. (j) Liquid funds. Funds of an Edge or agreement corporation that are not currently employed in its international or foreign business, if held or invested in the United States, shall be in the form of: (1) Cash; (2) Deposits with depository institutions, as described in Regulation D (12 CFR part 204), and other Edge and agreement corporations; (3) Money-market instruments (including repurchase agreements with respect to such instruments), such as bankers' acceptances, federal funds sold, and commercial paper; and (4) Short- or long-term obligations of, or fully guaranteed by, federal, state, and local governments and their instrumentalities. (k) Reports by Edge and agreement corporations of crimes and suspected crimes. An Edge or agreement corporation, or any branch or subsidiary thereof, shall file a suspicious-activity report in accordance with the provisions of Sec. 208.62 of Regulation H (12 CFR 208.62). (l) Protection of customer information and consumer information. An Edge or agreement corporation shall comply with the Interagency Guidelines Establishing Information Security Standards prescribed pursuant to sections 501 and 505 of the Gramm-Leach-Bliley Act (15 [[Page 322]] U.S.C. 6801 and 6805) and, with respect to the proper disposal of consumer information, section 216 of the Fair and Accurate Credit Transactions Act of 2003 (15 U.S.C. 1681w), set forth in appendix D-2 to part 208 of this chapter. (m) Procedures for monitoring Bank Secrecy Act compliance. (1) Establishment of Compliance Program. Each Edge corporation and each agreement corporation shall, in accordance with the provisions of Sec. 208.63 of the Board's Regulation H, 12 CFR 208.63, develop and provide for the continued administration of a program reasonably designed to assure and monitor compliance with the provisions of subchapter II of chapter 53 of title 31, United States Code, the Bank Secrecy Act, and the implementing regulations promulgated thereunder by the Department of the Treasury at 31 CFR part 103. The compliance program shall be reduced to writing, approved by the board of directors, and noted in the minutes. (2) Customer identification program. Each Edge or agreement corporation is subject to the requirements of 31 U.S.C. 5318(l) and the implementing regulation jointly promulgated by the Board and the Department of the Treasury at 31 CFR 103.121, which require a customer identification program. [66 FR 54374, Oct. 26, 2001, as amended at 66 FR 58655, Nov. 23, 2001; 68 FR 25112, May 9, 2003; 69 FR 77618, Dec. 28, 2004; 71 FR 13936, Mar. 20, 2006] Sec. 211.6 Permissible activities of Edge and agreement corporations in the United States. (a) Activities incidental to international or foreign business. An Edge or agreement corporation may engage, directly or indirectly, in activities in the United States that are permitted by section 25A(6) of the FRA (12 U.S.C. 615) and are incidental to international or foreign business, and in such other activities as the Board determines are incidental to international or foreign business. The following activities will ordinarily be considered incidental to an Edge or agreement corporation's international or foreign business: (1) Deposit-taking activities--(i) Deposits from foreign governments and foreign persons. An Edge or agreement corporation may receive in the United States transaction accounts, savings, and time deposits (including issuing negotiable certificates of deposits) from foreign governments and their agencies and instrumentalities, and from foreign persons. (ii) Deposits from other persons. An Edge or agreement corporation may receive from any other person in the United States transaction accounts, savings, and time deposits (including issuing negotiable certificates of deposit) if such deposits: (A) Are to be transmitted abroad; (B) Consist of funds to be used for payment of obligations to the Edge or agreement corporation or collateral securing such obligations; (C) Consist of the proceeds of collections abroad that are to be used to pay for exported or imported goods or for other costs of exporting or importing or that are to be periodically transferred to the depositor's account at another financial institution; (D) Consist of the proceeds of extensions of credit by the Edge or agreement corporation; (E) Represent compensation to the Edge or agreement corporation for extensions of credit or services to the customer; (F) Are received from Edge or agreement corporations, foreign banks, and other depository institutions (as described in Regulation D (12 CFR part 204)); or (G) Are received from an organization that by its charter, license, or enabling law is limited to business that is of an international character, including foreign sales corporations, as defined in 26 U.S.C. 922; transportation organizations engaged exclusively in the international transportation of passengers or in the movement of goods, wares, commodities, or merchandise in international or foreign commerce; and export trading companies established under subpart C of this part. (2) Borrowings. An Edge or agreement corporation may: (i) Borrow from offices of other Edge and agreement corporations, foreign banks, and depository institutions (as described in Regulation D (12 CFR part 204)); [[Page 323]] (ii) Issue obligations to the United States or any of its agencies or instrumentalities; (iii) Incur indebtedness from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States or any agency or instrumentality thereof that the Edge or agreement corporation is obligated to repurchase; and (iv) Issue long-term subordinated debt that does not qualify as a deposit under Regulation D (12 CFR part 204). (3) Credit activities. An Edge or agreement corporation may: (i) Finance the following: (A) Contracts, projects, or activities performed substantially abroad; (B) The importation into or exportation from the United States of goods, whether direct or through brokers or other intermediaries; (C) The domestic shipment or temporary storage of goods being imported or exported (or accumulated for export); and (D) The assembly or repackaging of goods imported or to be exported; (ii) Finance the costs of production of goods and services for which export orders have been received or which are identifiable as being directly for export; (iii) Assume or acquire participations in extensions of credit, or acquire obligations arising from transactions the Edge or agreement corporation could have financed, including acquisition of obligations of foreign governments; (iv) Guarantee debts, or otherwise agree to make payments on the occurrence of readily ascertainable events (including, but not limited to, nonpayment of taxes, rentals, customs duties, or cost of transport, and loss or nonconformance of shipping documents), so long as the guarantee or agreement specifies the maximum monetary liability thereunder and is related to a type of transaction described in paragraphs (a)(3)(i) and (ii) of this section; and (v) Provide credit and other banking services for domestic and foreign purposes to foreign governments and their agencies and instrumentalities, foreign persons, and organizations of the type described in paragraph (a)(1)(ii)(G) of this section. (4) Payments and collections. An Edge or agreement corporation may receive checks, bills, drafts, acceptances, notes, bonds, coupons, and other instruments for collection abroad, and collect such instruments in the United States for a customer abroad; and may transmit and receive wire transfers of funds and securities for depositors. (5) Foreign exchange. An Edge or agreement corporation may engage in foreign exchange activities. (6) Fiduciary and investment advisory activities. An Edge or agreement corporation may: (i) Hold securities in safekeeping for, or buy and sell securities upon the order and for the account and risk of, a person, provided such services for U.S. persons are with respect to foreign securities only; (ii) Act as paying agent for securities issued by foreign governments or other entities organized under foreign law; (iii) Act as trustee, registrar, conversion agent, or paying agent with respect to any class of securities issued to finance foreign activities and distributed solely outside the United States; (iv) Make private placements of participations in its investments and extensions of credit; however, except to the extent permissible for member banks under section 5136 of the Revised Statutes (12 U.S.C. 24(Seventh)), no Edge or agreement corporation otherwise may engage in the business of underwriting, distributing, or buying or selling securities in the United States; (v) Act as investment or financial adviser by providing portfolio investment advice and portfolio management with respect to securities, other financial instruments, real-property interests, and other investment assets, \3\ and by providing advice on mergers and acquisitions, provided such services for U.S. persons are with respect to foreign assets only; and --------------------------------------------------------------------------- \3\ For purposes of this section, management of an investment portfolio does not include operational management of real property, or industrial or commercial assets. --------------------------------------------------------------------------- (vi) Provide general economic information and advice, general economic [[Page 324]] statistical forecasting services, and industry studies, provided such services for U.S. persons shall be with respect to foreign economies and industries only. (7) Banking services for employees. Provide banking services, including deposit services, to the officers and employees of the Edge or agreement corporation and its affiliates; however, extensions of credit to such persons shall be subject to the restrictions of Regulation O (12 CFR part 215) as if the Edge or agreement corporation were a member bank. (b) Other activities. With the Board's prior approval, an Edge or agreement corporation may engage, directly or indirectly, in other activities in the United States that the Board determines are incidental to their international or foreign business. Sec. 211.7 Voluntary liquidation of Edge and agreement corporations. (a) Prior notice. An Edge or agreement corporation desiring voluntarily to discontinue normal business and dissolve, shall provide the Board with 45 days' prior written notice of its intent to do so. (b) Waiver of notice period. The Board may waive the 45-day period if it finds that immediate action is required by the circumstances presented. Sec. 211.8 Investments and activities abroad. (a) General policy. Activities abroad, whether conducted directly or indirectly, shall be confined to activities of a banking or financial nature and those that are necessary to carry on such activities. In doing so, investors \4\ shall at all times act in accordance with high standards of banking or financial prudence, having due regard for diversification of risks, suitable liquidity, and adequacy of capital. Subject to these considerations and the other provisions of this section, it is the Board's policy to allow activities abroad to be organized and operated as best meets corporate policies. --------------------------------------------------------------------------- \4\ For purposes of this section and Sec. Sec. 211.9 and 211.10 of this part, a direct subsidiary of a member bank is deemed to be an investor. --------------------------------------------------------------------------- (b) Direct investments by member banks. A member bank's direct investments under section 25 of the FRA (12 U.S.C. 601 et seq.) shall be limited to: (1) Foreign banks; (2) Domestic or foreign organizations formed for the sole purpose of holding shares of a foreign bank; (3) Foreign organizations formed for the sole purpose of performing nominee, fiduciary, or other banking services incidental to the activities of a foreign branch or foreign bank affiliate of the member bank; and (4) Subsidiaries established pursuant to Sec. 211.4(a)(8) of this part. (c) Eligible investments. Subject to the limitations set out in paragraphs (b) and (d) of this section, an investor may, directly or indirectly: (1) Investment in subsidiary. Invest in a subsidiary that engages solely in activities listed in Sec. 211.10 of this part, or in such other activities as the Board has determined in the circumstances of a particular case are permissible; provided that, in the case of an acquisition of a going concern, existing activities that are not otherwise permissible for a subsidiary may account for not more than 5 percent of either the consolidated assets or consolidated revenues of the acquired organization; (2) Investment in joint venture. Invest in a joint venture; provided that, unless otherwise permitted by the Board, not more than 10 percent of the joint venture's consolidated assets or consolidated revenues are attributable to activities not listed in Sec. 211.10 of this part; and (3) Portfolio investments. Make portfolio investments in an organization, provided that: (i) Individual investment limits. The total direct and indirect portfolio investments by the investor and its affiliates in an organization engaged in activities that are not permissible for joint ventures, when combined with all other shares in the organization held under any other authority, do not exceed: (A) 40 percent of the total equity of the organization; or (B) 19.9 percent of the organization's voting shares. [[Page 325]] (ii) Aggregate Investment Limit. Portfolio investments made under authority of this subpart shall be subject to the aggregate equity limit of Sec. 211.10(a)(15)(iii). (iii) Loans and extensions of credit. Any loans and extensions of credit made by an investor or its affiliates to the organization are on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions between the investor or its affiliates and nonaffiliated persons; and (iv) Protecting shareholder rights. Nothing in this paragraph (c)(3) shall prohibit an investor from otherwise exercising rights it may have as shareholder to protect the value of its investment, so long as the exercise of such rights does not result in the investor's direct or indirect control of the organization. (d) Investment limit. In calculating the amount that may be invested in any organization under this section and Sec. Sec. 211.9 and 211.10 of this part, there shall be included any unpaid amount for which the investor is liable and any investments in the same organization held by affiliates under any authority. (e) Divestiture. An investor shall dispose of an investment promptly (unless the Board authorizes retention) if: (1) The organization invested in: (i) Engages in impermissible activities to an extent not permitted under paragraph (c) of this section; or (ii) Engages directly or indirectly in other business in the United States that is not permitted to an Edge corporation in the United States; provided that an investor may: (A) Retain portfolio investments in companies that derive no more than 10 percent of their total revenue from activities in the United States; and (B) Hold up to 5 percent of the shares of a foreign company that engages directly or indirectly in business in the United States that is not permitted to an Edge corporation; or (2) After notice and opportunity for hearing, the investor is advised by the Board that such investment is inappropriate under the FRA, the BHC Act, or this subpart. (f) Debts previously contracted. Shares or other ownership interests acquired to prevent a loss upon a debt previously contracted in good faith are not subject to the limitations or procedures of this section; provided that such interests shall be disposed of promptly but in no event later than two years after their acquisition, unless the Board authorizes retention for a longer period. (g) Investments made through debt-for-equity conversions--(1) Permissible investments. A bank holding company may make investments through the conversion of sovereign-or private-debt obligations of an eligible country, either through direct exchange of the debt obligations for the investment, or by a payment for the debt in local currency, the proceeds of which, including an additional cash investment not exceeding in the aggregate more than 10 percent of the fair value of the debt obligations being converted as part of such investment, are used to purchase the following investments: (i) Public-sector companies. A bank holding company may acquire up to and including 100 percent of the shares of (or other ownership interests in) any foreign company located in an eligible country, if the shares are acquired from the government of the eligible country or from its agencies or instrumentalities. (ii) Private-sector companies. A bank holding company may acquire up to and including 40 percent of the shares, including voting shares, of (or other ownership interests in) any other foreign company located in an eligible country subject to the following conditions: (A) A bank holding company may acquire more than 25 percent of the voting shares of the foreign company only if another shareholder or group of shareholders unaffiliated with the bank holding company holds a larger block of voting shares of the company; (B) The bank holding company and its affiliates may not lend or otherwise extend credit to the foreign company in amounts greater than 50 percent of the total loans and extensions of credit to the foreign company; and (C) The bank holding company's representation on the board of directors or [[Page 326]] on management committees of the foreign company may be no more than proportional to its shareholding in the foreign company. (2) Investments by bank subsidiary of bank holding company. Upon application, the Board may permit an indirect investment to be made pursuant to this paragraph (g) through an insured bank subsidiary of the bank holding company, where the bank holding company demonstrates that such ownership is consistent with the purposes of the FRA. In granting its consent, the Board may impose such conditions as it deems necessary or appropriate to prevent adverse effects, including prohibiting loans from the bank to the company in which the investment is made. (3) Divestiture--(i) Time limits for divestiture. A bank holding company shall divest the shares of, or other ownership interests in, any company acquired pursuant to this paragraph (g) within the longer of: (A) Ten years from the date of acquisition of the investment, except that the Board may extend such period if, in the Board's judgment, such an extension would not be detrimental to the public interest; or (B) Two years from the date on which the bank holding company is permitted to repatriate in full the investment in the foreign company. (ii) Maximum retention period. Notwithstanding the provisions of paragraph (g)(3)(i) of this section: (A) Divestiture shall occur within 15 years of the date of acquisition of the shares of, or other ownership interests in, any company acquired pursuant to this paragraph (g); and (B) A bank holding company may retain such shares or ownership interests if such retention is otherwise permissible at the time required for divestiture. (iii) Report to Board. The bank holding company shall report to the Board on its plans for divesting an investment made under this paragraph (g) two years prior to the final date for divestiture, in a manner to be prescribed by the Board. (iv) Other conditions requiring divestiture. All investments made pursuant to this paragraph (g) are subject to paragraph (e) of this section requiring prompt divestiture (unless the Board upon application authorizes retention), if the company invested in engages in impermissible business in the United States that exceeds in the aggregate 10 percent of the company's consolidated assets or revenues calculated on an annual basis; provided that such company may not engage in activities in the United States that consist of banking or financial operations (as defined in Sec. 211.23(f)(5)(iii)(B)) of this part, or types of activities permitted by regulation or order under section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)), except under regulations of the Board or with the prior approval of the Board. (4) Investment procedures--(i) General consent. Subject to the other limitations of this paragraph (g), the Board grants its general consent for investments made under this paragraph (g) if the total amount invested does not exceed the greater of $25 million or 1 percent of the tier 1 capital of the investor. (ii) All other investments shall be made in accordance with the procedures of Sec. 211.9(f) and (g) of this part, requiring prior notice or specific consent. (5) Conditions--(i) Name. Any company acquired pursuant to this paragraph (g) shall not bear a name similar to the name of the acquiring bank holding company or any of its affiliates. (ii) Confidentiality. Neither the bank holding company nor its affiliates shall provide to any company acquired pursuant to this paragraph (g) any confidential business information or other information concerning customers that are engaged in the same or related lines of business as the company. [66 FR 54374, Oct. 26, 2001, as amended at 66 FR 58655, Nov. 23, 2001] Sec. 211.9 Investment procedures. (a) General provisions.\1\ Direct and indirect investments shall be made in accordance with the general consent, limited general consent, prior notice, or [[Page 327]] specific consent procedures contained in this section. --------------------------------------------------------------------------- \1\ When necessary, the provisions of this section relating to general consent and prior notice constitute the Board's approval under section 25A(8) of the FRA (12 U.S.C. 615) for investments in excess of the limitations therein based on capital and surplus. --------------------------------------------------------------------------- (1) Minimum capital adequacy standards. Except as the Board may otherwise determine, in order for an investor to make investments pursuant to the procedures set out in this section, the investor, the bank holding company, and the member bank shall be in compliance with applicable minimum standards for capital adequacy set out in the capital rule; provided that, if the investor is an Edge or agreement corporation, the minimum capital required is total and tier 1 capital ratios of 8 percent and 4 percent, respectively. (2) Composite rating. Except as the Board may otherwise determine, in order for an investor to make investments under the general consent or limited general consent procedures of paragraphs (b) and (c) of this section, at the most recent examination the investor and any parent insured bank must have either received a composite rating of at least 2 or be considered satisfactory under the applicable rating system. (3) Board's authority to modify or suspend procedures. The Board, at any time upon notice, may modify or suspend the procedures contained in this section with respect to any investor or with respect to the acquisition of shares of organizations engaged in particular kinds of activities. (4) Long-range investment plan. Any investor may submit to the Board for its specific consent a long-range investment plan. Any plan so approved shall be subject to the other procedures of this section only to the extent determined necessary by the Board to assure safety and soundness of the operations of the investor and its affiliates. (5) Prior specific consent for initial investment. An investor shall apply for and receive the prior specific consent of the Board for its initial investment under this subpart in its first subsidiary or joint venture, unless an affiliate previously has received approval to make such an investment. (6) Expiration of investment authority. Authority to make investments granted under prior notice or specific consent procedures shall expire one year from the earliest date on which the authority could have been exercised, unless the Board determines a longer period shall apply. (7) Conditional approval; Access to information. The Board may impose such conditions on authority granted by it under this section as it deems necessary, and may require termination of any activities conducted under authority of this subpart if an investor is unable to provide information on its activities or those of its affiliates that the Board deems necessary to determine and enforce compliance with U.S. banking laws. (b) General consent. The Board grants its general consent for a well capitalized and well managed investor to make investments, subject to the following: (1) Well capitalized and well managed investor. In order to qualify for making investments under authority of this paragraph (b), both before and immediately after the proposed investment, the investor, any parent insured bank, and any parent bank holding company shall be well capitalized and well managed. (2) Individual limit for investment in subsidiary. In the case of an investment in a subsidiary, the total amount invested directly or indirectly in such subsidiary (in one transaction or a series of transactions) does not exceed: (i) 10 percent of the investor's tier 1 capital, where the investor is a bank holding company; or (ii) 2 percent of the investor's tier 1 capital, where the investor is a member bank; or (iii) The lesser of 2 percent of the tier 1 capital of any parent insured bank or 10 percent of the investor's tier 1 capital, for any other investor. (3) Individual limit for investment in joint venture. In the case of an investment in a joint venture, the total amount invested directly or indirectly in such joint venture (in one transaction or a series of transactions) does not exceed: (i) 5 percent of the investor's tier 1 capital, where the investor is a bank holding company; or [[Page 328]] (ii) 1 percent of the investor's tier 1 capital, where the investor is a member bank; or (iii) The lesser of 1 percent of the tier 1 capital of any parent insured bank or 5 percent of the investor's tier 1 capital, for any other investor. (4) Individual limit for portfolio investment. In the case of a portfolio investment, the total amount invested directly or indirectly in such company (in one transaction or a series of transactions) does not exceed the lesser of $25 million, or (i) 5 percent of the investor's tier 1 capital in the case of a bank holding company or its subsidiary, or Edge corporation engaged in banking; or (ii) 25 percent of the investor's tier 1 capital in the case of an Edge corporation not engaged in banking. (5) Investment in a general partnership or unlimited liability company. An investment in a general partnership or unlimited liability company may be made under authority of paragraph (b) of this section, subject to the limits set out in paragraph (c) of this section. (6) Aggregate investment limits--(i) Investment limits. All investments made, directly or indirectly, during the previous 12-month period under authority of this section, when aggregated with the proposed investment, shall not exceed: (A) 20 percent of the investor's tier 1 capital, where the investor is a bank holding company; (B) 10 percent of the investor's tier 1 capital, where the investor is a member bank; or (C) The lesser of 10 percent of the tier 1 capital of any parent insured bank or 50 percent of the tier 1 capital of the investor, for any other investor. (ii) Downstream investments. In determining compliance with the aggregate limits set out in this paragraph (b), an investment by an investor in a subsidiary shall be counted only once, notwithstanding that such subsidiary may, within 12 months of the date of making the investment, downstream all or any part of such investment to another subsidiary. (7) Application of limits. In determining compliance with the limits set out in this paragraph (b), an investor is not required to combine the value of all shares of an organization held in trading or dealing accounts under Sec. 211.10(a)(15) of this part with investments in the same organization. (c) Limited general consent--(1) Individual limit. The Board grants its general consent for an investor that is not well capitalized and well managed to make an investment in a subsidiary or joint venture, or to make a portfolio investment, if the total amount invested directly or indirectly (in one transaction or in a series of transactions) does not exceed the lesser of $25 million or: (i) 5 percent of the investor's tier 1 capital, where the investor is a bank holding company; (ii) 1 percent of the investor's tier 1 capital, where the investor is a member bank; or (iii) The lesser of 1 percent of any parent insured bank's tier 1 capital or 5 percent of the investor's tier 1 capital, for any other investor. (2) Aggregate limit. The amount of general consent investments made by any investor directly or indirectly under authority of this paragraph (c) during the previous 12-month period, when aggregated with the proposed investment, shall not exceed: (i) 10 percent of the investor's tier 1 capital, where the investor is a bank holding company; (ii) 5 percent of the investor's tier 1 capital, where the investor is a member bank; and (iii) The lesser of 5 percent of any parent insured bank's tier 1 capital or 25 percent of the investor's tier 1 capital, for any other investor. (3) Application of limits. In calculating compliance with the limits of this paragraph (c), the rules set forth in paragraphs (b)(6)(ii) and (b)(7) of this section shall apply. (d) Other eligible investments under general consent. In addition to the authority granted under paragraphs (b) and (c) of this section, the Board grants its general consent for any investor to make the following investments: (1) Investment in organization equal to cash dividends. Any investment in an organization in an amount equal to [[Page 329]] cash dividends received from that organization during the preceding 12 calendar months; and (2) Investment acquired from affiliate. Any investment that is acquired from an affiliate at net asset value or through a contribution of shares. (e) Investments ineligible for general consent. An investment in a foreign bank may not be made under authority of paragraphs (b) or (c) of this section if: (1) After the investment, the foreign bank would be an affiliate of a member bank; and (2) The foreign bank is located in a country in which the member bank and its affiliates have no existing banking presence. (f) Prior notice. An investment that does not qualify for general consent under paragraph (b), (c), or (d) of this section may be made after the investor has given the Board 30 days' prior written notice, such notice period to commence at the time the notice is received, provided that: (1) The Board may waive the 30-day period if it finds the full period is not required for consideration of the proposed investment, or that immediate action is required by the circumstances presented; and (2) The Board may suspend the 30-day period or act on the investment under the Board's specific consent procedures. (g) Specific consent. Any investment that does not qualify for either the general consent or the prior notice procedure may not be consummated without the specific consent of the Board. [66 FR 54374, Oct. 26, 2001, as amended at 66 FR 58655, Nov. 23, 2001; Reg. K, 83 FR 58734, Nov. 21, 2018; 84 FR 61797, Nov. 13, 2019] Sec. 211.10 Permissible activities abroad. (a) Activities usual in connection with banking. The Board has determined that the following activities are usual in connection with the transaction of banking or other financial operations abroad: (1) Commercial and other banking activities; (2) Financing, including commercial financing, consumer financing, mortgage banking, and factoring; (3) Leasing real or personal property, or acting as agent, broker, or advisor in leasing real or personal property consistent with the provisions of Regulation Y (12 CFR part 225); (4) Acting as fiduciary; (5) Underwriting credit life insurance and credit accident and health insurance; (6) Performing services for other direct or indirect operations of a U.S. banking organization, including representative functions, sale of long-term debt, name-saving, holding assets acquired to prevent loss on a debt previously contracted in good faith, and other activities that are permissible domestically for a bank holding company under sections 4(a)(2)(A) and 4(c)(1)(C) of the BHC Act (12 U.S.C. 1843(a)(2)(A), (c)(1)(C)); (7) Holding the premises of a branch of an Edge or agreement corporation or member bank or the premises of a direct or indirect subsidiary, or holding or leasing the residence of an officer or employee of a branch or subsidiary; (8) Providing investment, financial, or economic advisory services; (9) General insurance agency and brokerage; (10) Data processing; (11) Organizing, sponsoring, and managing a mutual fund, if the fund's shares are not sold or distributed in the United States or to U.S. residents and the fund does not exercise managerial control over the firms in which it invests; (12) Performing management consulting services, if such services, when rendered with respect to the U.S. market, shall be restricted to the initial entry; (13) Underwriting, distributing, and dealing in debt securities outside the United States; (14) Underwriting and distributing equity securities outside the United States as follows: (i) Limits for well-capitalized and well-managed investor--(A) General. After providing 30 days' prior written notice to the Board, an investor that is well capitalized and well managed may underwrite equity securities, provided that commitments by an investor and [[Page 330]] its subsidiaries for the shares of a single organization do not, in the aggregate, exceed: (1) 15 percent of the bank holding company's tier 1 capital, where the investor is a bank holding company; (2) 3 percent of the investor's tier 1 capital, where the investor is a member bank; or (3) The lesser of 3 percent of any parent insured bank's tier 1 capital or 15 percent of the investor's tier 1 capital, for any other investor; (B) Qualifying criteria. An investor will be considered well- capitalized and well-managed for purposes of paragraph (a)(14)(i) of this section only if each of the bank holding company, member bank, and Edge or agreement corporation qualify as well-capitalized and well- managed. (ii) Limits for investor that is not well capitalized and well managed. After providing 30 days' prior written notice to the Board, an investor that is not well capitalized and well managed may underwrite equity securities, provided that commitments by the investor and its subsidiaries for the shares of an organization do not, in the aggregate, exceed $60 million; and (iii) Application of limits. For purposes of determining compliance with the limitations of this paragraph (a)(14), the investor may subtract portions of an underwriting that are covered by binding commitments obtained by the investor or its affiliates from sub- underwriters or other purchasers; (15) Dealing in equity securities outside the United States as follows: (i) Grandfathered authority. By an investor, or an affiliate, that had commenced such activities prior to March 27, 1991, and subject to the limitations in effect at that time (See 12 CFR part 211, revised January 1, 1991); or (ii) Limit on shares of a single issuer. After providing 30 days' prior written notice to the Board, an investor may deal in the shares of an organization where the shares held in the trading or dealing accounts of an investor and its affiliates under authority of this paragraph (a)(15) do not in the aggregate exceed the lesser of: (A) $40 million; or (B) 10 percent of the investor's tier 1 capital; (iii) Aggregate equity limit. The total shares held directly and indirectly by the investor and its affiliates under authority of this paragraph (a)(15) and Sec. 211.8(c)(3) of this part in organizations engaged in activities that are not permissible for joint ventures do not exceed: (A) 25 percent of the bank holding company's tier 1 capital, where the investor is a bank holding company; (B) 20 percent of the investor's tier 1 capital, where the investor is a member bank; \6\ and --------------------------------------------------------------------------- \6\ For this purpose, a direct subsidiary of a member bank is deemed to be an investor. --------------------------------------------------------------------------- (C) The lesser of 20 percent of any parent insured bank's tier 1 capital or 100 percent of the investor's tier 1 capital, for any other investor; (iv) Determining compliance with limits--(A) General. For purposes of determining compliance with all limits set out in this paragraph (a)(15): (1) Long and short positions in the same security may be netted; and (2) Except as provided in paragraph (a)(15)(iv)(B)(4) of this section, equity securities held in order to hedge bank permissible equity derivatives contracts shall not be included. (B) Use of internal hedging models. After providing 30 days' prior written notice to the Board the investor may use an internal hedging model that: (1) Nets long and short positions in the same security and offsets positions in a security by futures, forwards, options, and other similar instruments referenced to the same security, for purposes of determining compliance with the single issuer limits of paragraph (a)(15)(ii) of this section;\7\ and --------------------------------------------------------------------------- \7\ A basket of stocks, specifically segregated as an offset to a position in a stock index derivative product, as computed by the investor's internal model, may be offset against the stock index. --------------------------------------------------------------------------- (2) Offsets its long positions in equity securities by futures, forwards, options, and similar instruments, on a portfolio basis, and for purposes of determining compliance with the aggregate equity limits of paragraph (a)(15)(iii) of this section. (3) With respect to all equity securities held under authority of paragraph (a)(15) of this section, no net long position in a security shall be deemed to [[Page 331]] have been reduced by more than 75 percent through use of internal hedging models under this paragraph (a)(15)(iv)(B); and (4) With respect to equity securities acquired to hedge bank permissible equity derivatives contracts under authority of paragraph (a)(1) of this section, any residual position that remains in the securities of a single issuer after netting and offsetting of positions relating to the security under the investor's internal hedging models shall be included in calculating compliance with the limits of this paragraph (a)(15)(ii) and (iii). (C) Underwriting commitments. Any shares acquired pursuant to an underwriting commitment that are held for longer than 90 days after the payment date for such underwriting shall be subject to the limits set out in paragraph (a)(15) of this section and the investment provisions of Sec. Sec. 211.8 and 211.9 of this part. (v) Authority to deal in shares of U.S. organization. The authority to deal in shares under paragraph (a)(15) of this section includes the authority to deal in the shares of a U.S. organization: (A) With respect to foreign persons only; and (B) Subject to the limitations on owning or controlling shares of a company in section 4(c)(6) of the BHC Act (12 U.S.C. 1843(c)(6)) and Regulation Y (12 CFR part 225). (vi) Report to senior management. Any shares held in trading or dealing accounts for longer than 90 days shall be reported to the senior management of the investor; (16) Operating a travel agency, but only in connection with financial services offered abroad by the investor or others; (17) Underwriting life, annuity, pension fund-related, and other types of insurance, where the associated risks have been previously determined by the Board to be actuarially predictable; provided that: (i) Investments in, and loans and extensions of credit (other than loans and extensions of credit fully secured in accordance with the requirements of section 23A of the FRA (12 U.S.C. 371c), or with such other standards as the Board may require) to, the company by the investor or its affiliates are deducted from the capital of the investor (with 50 percent of such capital deduction to be taken from tier 1 capital); and (ii) Activities conducted directly or indirectly by a subsidiary of a U.S. insured bank are excluded from the authority of this paragraph (a)(17), unless authorized by the Board; (18) Providing futures commission merchant services (including clearing without executing and executing without clearing) for nonaffiliated persons with respect to futures and options on futures contracts for financial and nonfinancial commodities; provided that prior notice under Sec. 211.9(f) of this part shall be provided to the Board before any subsidiaries of a member bank operating pursuant to this subpart may join a mutual exchange or clearinghouse, unless the potential liability of the investor to the exchange, clearinghouse, or other members of the exchange, as the case may be, is legally limited by the rules of the exchange or clearinghouse to an amount that does not exceed applicable general consent limits under Sec. 211.9 of this part; (19) Acting as principal or agent in commodity-swap transactions in relation to: (i) Swaps on a cash-settled basis for any commodity, provided that the investor's portfolio of swaps contracts is hedged in a manner consistent with safe and sound banking practices; and (ii) Contracts that require physical delivery of a commodity, provided that: (A) Such contracts are entered into solely for the purpose of hedging the investor's positions in the underlying commodity or derivative contracts based on the commodity; (B) The contract allows for assignment, termination or offset prior to expiration; and (C) Reasonable efforts are made to avoid delivery. (b) Regulation Y activities. An investor may engage in activities that the Board has determined in Sec. 225.28(b) of Regulation Y (12 CFR 225.28(b)) are closely related to banking under section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)). [[Page 332]] (c) Specific approval. With the Board's specific approval, an investor may engage in other activities that the Board determines are usual in connection with the transaction of the business of banking or other financial operations abroad and are consistent with the FRA or the BHC Act. Sec. 211.11 Advisory opinions under Regulation K. (a) Request for advisory opinion. Any person may submit a request to the Board for an advisory opinion regarding the scope of activities permissible under any subpart of this part. (b) Form and content of the request. Any request for an advisory opinion under this section shall be: (1) Submitted in writing to the Board; (2) Contain a clear description of the proposed parameters of the activity, or the service or product, at issue; and (3) Contain a concise explanation of the grounds on which the submitter contends the activity is or should be considered by the Board to be permissible under this part. (c) Response to request. In response to a request received under this section, the Board shall: (1) Direct the submitter to provide such additional information as the Board may deem necessary to complete the record for a full consideration of the issue presented; and (2) Provide an advisory opinion within 45 days after the record on the request has been determined to be complete. Sec. 211.12 Lending limits and capital requirements. (a) Acceptances of Edge corporations. (1) Limitations. An Edge corporation shall be and remain fully secured for acceptances of the types described in section 13(7) of the FRA (12 U.S.C. 372), as follows: (i) All acceptances outstanding in excess of 200 percent of its tier 1 capital; and (ii) All acceptances outstanding for any one person in excess of 10 percent of its tier 1 capital. (2) Exceptions. These limitations do not apply if the excess represents the international shipment of goods, and the Edge corporation is: (i) Fully covered by primary obligations to reimburse it that are guaranteed by banks or bankers; or (ii) Covered by participation agreements from other banks, as described in 12 CFR 250.165. (b) Loans and extensions of credit to one person--(1) Loans and extensions of credit defined. Loans and extensions of credit has the meaning set forth in Sec. 211.2(q) of this part \8\ and, for purposes of this paragraph (b), also include: --------------------------------------------------------------------------- \8\ In the case of a foreign government, these includes loans and extensions of credit to the foreign government's departments or agencies deriving their current funds principally from general tax revenues. In the case of a partnership or firm, these include loans and extensions of credit to its members and, in the case of a corporation, these include loans and extensions of credit to the corporation's affiliates, where the affiliate incurs the liability for the benefit of the corporation. --------------------------------------------------------------------------- (i) Acceptances outstanding that are not of the types described in section 13(7) of the FRA (12 U.S.C. 372); (ii) Any liability of the lender to advance funds to or on behalf of a person pursuant to a guarantee, standby letter of credit, or similar agreements; (iii) Investments in the securities of another organization other than a subsidiary; and (iv) Any underwriting commitments to an issuer of securities, where no binding commitments have been secured from subunderwriters or other purchasers. (2) Limitations. Except as the Board may otherwise specify: (i) The total loans and extensions of credit outstanding to any person by an Edge corporation engaged in banking, and its direct or indirect subsidiaries, may not exceed 15 percent of the Edge corporation's tier 1 capital;\9\ and --------------------------------------------------------------------------- \9\ For purposes of this paragraph (b), subsidiaries includes subsidiaries controlled by the Edge corporation, but does not include companies otherwise controlled by affiliates of the Edge corporation. --------------------------------------------------------------------------- (ii) The total loans and extensions of credit to any person by a foreign bank or Edge corporation subsidiary of a member bank, and by majority-owned subsidiaries of a foreign bank or Edge corporation, when combined with the total loans and extensions of credit to [[Page 333]] the same person by the member bank and its majority-owned subsidiaries, may not exceed the member bank's limitation on loans and extensions of credit to one person. (3) Exceptions. The limitations of paragraph (b)(2) of this section do not apply to: (i) Deposits with banks and federal funds sold; (ii) Bills or drafts drawn in good faith against actual goods and on which two or more unrelated parties are liable; (iii) Any banker's acceptance, of the kind described in section 13(7) of the FRA (12 U.S.C. 372), that is issued and outstanding; (iv) Obligations to the extent secured by cash collateral or by bonds, notes, certificates of indebtedness, or Treasury bills of the United States; (v) Loans and extensions of credit that are covered by bona fide participation agreements; and (vi) Obligations to the extent supported by the full faith and credit of the following: (A) The United States or any of its departments, agencies, establishments, or wholly owned corporations (including obligations, to the extent insured against foreign political and credit risks by the Export-Import Bank of the United States or the Foreign Credit Insurance Association), the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, or the European Bank for Reconstruction and Development; (B) Any organization, if at least 25 percent of such an obligation or of the total credit is also supported by the full faith and credit of, or participated in by, any institution designated in paragraph (b)(3)(vi)(A) of this section in such manner that default to the lender would necessarily include default to that entity. The total loans and extensions of credit under this paragraph (b)(3)(vi)(B) to any person shall at no time exceed 100 percent of the tier 1 capital of the Edge corporation. (c) Capitalization. (1) An Edge corporation shall at all times be capitalized in an amount that is adequate in relation to the scope and character of its activities. (2) In the case of an Edge corporation engaged in banking, the minimum ratio of qualifying total capital to risk-weighted assets, as determined under the capital rule, shall not be less than 10 percent, of which at least 50 percent shall consist of tier 1 capital. (3) For purposes of this paragraph (c), no limitation shall apply on the inclusion of subordinated debt that qualifies as tier 2 capital under the capital rule. [Reg. K, 66 FR 54374, Oct. 26, 2001, as amended at 84 FR 61797, Nov. 13, 2019] Sec. 211.13 Supervision and reporting. (a) Supervision--(1) Foreign branches and subsidiaries. U.S. banking organizations conducting international operations under this subpart shall supervise and administer their foreign branches and subsidiaries in such a manner as to ensure that their operations conform to high standards of banking and financial prudence. (i) Effective systems of records, controls, and reports shall be maintained to keep management informed of their activities and condition. (ii) Such systems shall provide, in particular, information on risk assets, exposure to market risk, liquidity management, operations, internal controls, legal and operational risk, and conformance to management policies. (iii) Reports on risk assets shall be sufficient to permit an appraisal of credit quality and assessment of exposure to loss, and, for this purpose, provide full information on the condition of material borrowers. (iv) Reports on operations and controls shall include internal and external audits of the branch or subsidiary. (2) Joint ventures. Investors shall maintain sufficient information with respect to joint ventures to keep informed of their activities and condition. (i) Such information shall include audits and other reports on financial performance, risk exposure, management policies, operations, and controls. (ii) Complete information shall be maintained on all transactions with the joint venture by the investor and its affiliates. [[Page 334]] (3) Availability of reports and information to examiners. The reports specified in paragraphs (a)(1) and (2) of this section and any other information deemed necessary to determine compliance with U.S. banking law shall be made available to examiners of the appropriate bank supervisory agencies. (b) Examinations. Examiners appointed by the Board shall examine each Edge corporation once a year. An Edge or agreement corporation shall make available to examiners information sufficient to assess its condition and operations and the condition and activities of any organization whose shares it holds. (c) Reports--(1) Reports of condition. Each Edge or agreement corporation shall make reports of condition to the Board at such times and in such form as the Board may prescribe. The Board may require that statements of condition or other reports be published or made available for public inspection. (2) Foreign operations. Edge and agreement corporations, member banks, and bank holding companies shall file such reports on their foreign operations as the Board may require. (3) Acquisition or disposition of shares. Member banks, Edge and agreement corporations, and bank holding companies shall report, in a manner prescribed by the Board, any acquisition or disposition of shares. (d) Filing and processing procedures--(1) Place of filing. Unless otherwise directed by the Board, applications, notices, and reports required by this part shall be filed with the Federal Reserve Bank of the District in which the parent bank or bank holding company is located or, if none, the Reserve Bank of the District in which the applying or reporting institution is located. Instructions and forms for applications, notices, and reports are available from the Reserve Banks. (2) Timing. The Board shall act on an application under this subpart within 60 calendar days after the Reserve Bank has received the application, unless the Board notifies the investor that the 60-day period is being extended and states the reasons for the extension. Subpart B_Foreign Banking Organizations Source: Reg. K, 66 FR 54374, Oct. 26, 2001, unless otherwise noted. Sec. 211.20 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board of Governors of the Federal Reserve System (Board) under the authority of the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1841 et seq.) and the International Banking Act of 1978 (IBA) (12 U.S.C. 3101 et seq.). (b) Purpose and scope. This subpart is in furtherance of the purposes of the BHC Act and the IBA. It applies to foreign banks and foreign banking organizations with respect to: (1) The limitations on interstate banking under section 5 of the IBA (12 U.S.C. 3103); (2) The exemptions from the nonbanking prohibitions of the BHC Act and the IBA afforded by sections 2(h) and 4(c)(9) of the BHC Act (12 U.S.C. 1841(h), 1843(c)(9)); (3) Board approval of the establishment of an office of a foreign bank in the United States under sections 7(d) and 10(a) of the IBA (12 U.S.C. 3105(d), 3107(a)); (4) The termination by the Board of a foreign bank's representative office, state branch, state agency, or commercial lending company subsidiary under sections 7(e) and 10(b) of the IBA (12 U.S.C. 3105(e), 3107(b)), and the transmission of a recommendation to the Comptroller to terminate a federal branch or federal agency under section 7(e)(5) of the IBA (12 U.S.C. 3105(e)(5)); (5) The examination of an office or affiliate of a foreign bank in the United States as provided in sections 7(c) and 10(c) of the IBA (12 U.S.C. 3105(c), 3107(c)); (6) The disclosure of supervisory information to a foreign supervisor under section 15 of the IBA (12 U.S.C. 3109); (7) The limitations on loans to one borrower by state branches and state agencies of a foreign bank under section 7(h)(2) of the IBA (12 U.S.C. 3105(h)(2)); (8) The limitation of a state branch and a state agency to conducting only activities that are permissible for a [[Page 335]] federal branch under section (7)(h)(1) of the IBA (12 U.S.C. 3105(h)(1)); and (9) The deposit insurance requirement for retail deposit taking by a foreign bank under section 6 of the IBA (12 U.S.C. 3104). (10) The management of shell branches (12 U.S.C. 3105(k)). (c) Additional requirements. Compliance by a foreign bank with the requirements of this subpart and the laws administered and enforced by the Board does not relieve the foreign bank of responsibility to comply with the laws and regulations administered by the licensing authority. Sec. 211.21 Definitions. The definitions contained in Sec. Sec. 211.1 and 211.2 apply to this subpart, except as a term is otherwise defined in this section: (a) Affiliate of a foreign bank or of a parent of a foreign bank means any company that controls, is controlled by, or is under common control with, the foreign bank or the parent of the foreign bank. (b) Agency means any place of business of a foreign bank, located in any state, at which credit balances are maintained, checks are paid, money is lent, or, to the extent not prohibited by state or federal law, deposits are accepted from a person or entity that is not a citizen or resident of the United States. Obligations shall not be considered credit balances unless they are: (1) Incidental to, or arise out of the exercise of, other lawful banking powers; (2) To serve a specific purpose; (3) Not solicited from the general public; (4) Not used to pay routine operating expenses in the United States such as salaries, rent, or taxes; (5) Withdrawn within a reasonable period of time after the specific purpose for which they were placed has been accomplished; and (6) Drawn upon in a manner reasonable in relation to the size and nature of the account. (c)(1) Appropriate Federal Reserve Bank means, unless the Board designates a different Federal Reserve Bank: (i) For a foreign banking organization, the Reserve Bank assigned to the foreign banking organization in Sec. 225.3(b)(2) of Regulation Y (12 CFR 225.3(b)(2)); (ii) For a foreign bank that is not a foreign banking organization and proposes to establish an office, an Edge corporation, or an agreement corporation, the Reserve Bank of the Federal Reserve District in which the foreign bank proposes to establish such office or corporation; and (iii) In all other cases, the Reserve Bank designated by the Board. (2) The appropriate Federal Reserve Bank need not be the Reserve Bank of the Federal Reserve District in which the foreign bank's home state is located. (d) Banking subsidiary, with respect to a specified foreign bank, means a bank that is a subsidiary as the terms bank and subsidiary are defined in section 2 of the BHC Act (12 U.S.C. 1841). (e) Branch means any place of business of a foreign bank, located in any state, at which deposits are received, and that is not an agency, as that term is defined in paragraph (b) of this section. (f) Change the status of an office means to convert a representative office into a branch or agency, or an agency or limited branch into a branch, but does not include renewal of the license of an existing office. (g) Commercial lending company means any organization, other than a bank or an organization operating under section 25 of the Federal Reserve Act (FRA) (12 U.S.C. 601-604a), organized under the laws of any state, that maintains credit balances permissible for an agency, and engages in the business of making commercial loans. Commercial lending company includes any company chartered under article XII of the banking law of the State of New York. (h) Comptroller means the Office of the Comptroller of the Currency. (i) Control has the same meaning as in section 2(a) of the BHC Act (12 U.S.C. 1841(a)), and the terms controlled and controlling shall be construed consistently with the term control. (j) Domestic branch means any place of business of a foreign bank, located in any state, that may accept domestic [[Page 336]] deposits and deposits that are incidental to or for the purpose of carrying out transactions in foreign countries. (k) A foreign bank engages directly in the business of banking outside the United States if the foreign bank engages directly in banking activities usual in connection with the business of banking in the countries where it is organized or operating. (l) To establish means: (1) To open and conduct business through an office; (2) To acquire directly, through merger, consolidation, or similar transaction with another foreign bank, the operations of an office that is open and conducting business; (3) To acquire an office through the acquisition of a foreign bank subsidiary that will cease to operate in the same corporate form following the acquisition; (4) To change the status of an office; or (5) To relocate an office from one state to another. (m) Federal agency, federal branch, state agency, and state branch have the same meanings as in section 1 of the IBA (12 U.S.C. 3101). (n) Foreign bank means an organization that is organized under the laws of a foreign country and that engages directly in the business of banking outside the United States. The term foreign bank does not include a central bank of a foreign country that does not engage or seek to engage in a commercial banking business in the United States through an office. (o) Foreign banking organization means: (1) A foreign bank, as defined in section 1(b)(7) of the IBA (12 U.S.C. 3101(7)), that: (i) Operates a branch, agency, or commercial lending company subsidiary in the United States; (ii) Controls a bank in the United States; or (iii) Controls an Edge corporation acquired after March 5, 1987; and (2) Any company of which the foreign bank is a subsidiary. (p) Home country, with respect to a foreign bank, means the country in which the foreign bank is chartered or incorporated. (q) Home country supervisor, with respect to a foreign bank, means the governmental entity or entities in the foreign bank's home country with responsibility for the supervision and regulation of the foreign bank. (r) Licensing authority means: (1) The relevant state supervisor, with respect to an application to establish a state branch, state agency, commercial lending company, or representative office of a foreign bank; or (2) The Comptroller, with respect to an application to establish a federal branch or federal agency. (s) Limited branch means a branch of a foreign bank that receives only such deposits as would be permitted for a corporation organized under section 25A of the Federal Reserve Act (12 U.S.C. 611-631). (t) Office or office of a foreign bank means any branch, agency, representative office, or commercial lending company subsidiary of a foreign bank in the United States. (u) A parent of a foreign bank means a company of which the foreign bank is a subsidiary. An immediate parent of a foreign bank is a company of which the foreign bank is a direct subsidiary. An ultimate parent of a foreign bank is a parent of the foreign bank that is not the subsidiary of any other company. (v) Regional administrative office means a representative office that: (1) Is established by a foreign bank that operates two or more branches, agencies, commercial lending companies, or banks in the United States; (2) Is located in the same city as one or more of the foreign bank's branches, agencies, commercial lending companies, or banks in the United States; (3) Manages, supervises, or coordinates the operations of the foreign bank or its affiliates, if any, in a particular geographic area that includes the United States or a region thereof, including by exercising credit approval authority in that area pursuant to written standards, credit policies, and procedures established by the foreign bank; and (4) Does not solicit business from actual or potential customers of the foreign bank or its affiliates. (w) Relevant state supervisor means the state entity that is authorized to [[Page 337]] supervise and regulate a state branch, state agency, commercial lending company, or representative office. (x) Representative office means any office of a foreign bank which is located in any state and is not a Federal branch, Federal agency, State branch, State agency, or commercial lending company subsidiary. (y) State means any state of the United States or the District of Columbia. (z) Subsidiary means any organization that: (1) Has 25 percent or more of its voting shares directly or indirectly owned, controlled, or held with the power to vote by a company, including a foreign bank or foreign banking organization; or (2) Is otherwise controlled, or capable of being controlled, by a foreign bank or foreign banking organization. Sec. 211.22 Interstate banking operations of foreign banking organizations. (a) Determination of home state. (1) A foreign bank that, as of December 10, 1997, had declared a home state or had a home state determined pursuant to the law and regulations in effect prior to that date shall have that state as its home state. (2) A foreign bank that has any branches, agencies, commercial lending company subsidiaries, or subsidiary banks in one state, and has no such offices or subsidiaries in any other states, shall have as its home state the state in which such offices or subsidiaries are located. (b) Change of home state--(1) Prior notice. A foreign bank may change its home state once, if it files 30 days' prior notice of the proposed change with the Board. (2) Application to change home state. (i) A foreign bank, in addition to changing its home state by filing prior notice under paragraph (b)(1) of this section, may apply to the Board to change its home state, upon showing that a national bank or state-chartered bank with the same home state as the foreign bank would be permitted to change its home state to the new home state proposed by the foreign bank. (ii) A foreign bank may apply to the Board for such permission one or more times. (iii) In determining whether to grant the request of a foreign bank to change its home state, the Board shall consider whether the proposed change is consistent with competitive equity between foreign and domestic banks. (3) Effect of change in home state. The home state of a foreign bank and any change in its home state by a foreign bank shall not affect which Federal Reserve Bank or Reserve Banks supervise the operations of the foreign bank, and shall not affect the obligation of the foreign bank to file required reports and applications with the appropriate Federal Reserve Bank. (4) Conforming branches to new home state. Upon any change in home state by a foreign bank under paragraph (b)(1) or (b)(2) of this section, the domestic branches of the foreign bank established in reliance on any previous home state of the foreign bank shall be conformed to those which a foreign bank with the new home state could permissibly establish or operate as of the date of such change. (c) Prohibition against interstate deposit production offices. A covered interstate branch of a foreign bank may not be used as a deposit production office in accordance with the provisions in Sec. 208.7 of Regulation H (12 CFR 208.7). Sec. 211.23 Nonbanking activities of foreign banking organizations. (a) Qualifying foreign banking organizations. Unless specifically made eligible for the exemptions by the Board, a foreign banking organization shall qualify for the exemptions afforded by this section only if, disregarding its United States banking, more than half of its worldwide business is banking; and more than half of its banking business is outside the United States. \10\ In [[Page 338]] order to qualify, a foreign banking organization shall: --------------------------------------------------------------------------- \10\ None of the assets, revenues, or net income, whether held or derived directly or indirectly, of a subsidiary bank, branch, agency, commercial lending company, or other company engaged in the business of banking in the United States (including any territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands) shall be considered held or derived from the business of banking ``outside the United States''. --------------------------------------------------------------------------- (1) Meet at least two of the following requirements: (i) Banking assets held outside the United States exceed total worldwide nonbanking assets; (ii) Revenues derived from the business of banking outside the United States exceed total revenues derived from its worldwide nonbanking business; or (iii) Net income derived from the business of banking outside the United States exceeds total net income derived from its worldwide nonbanking business; and (2) Meet at least two of the following requirements: (i) Banking assets held outside the United States exceed banking assets held in the United States; (ii) Revenues derived from the business of banking outside the United States exceed revenues derived from the business of banking in the United States; or (iii) Net income derived from the business of banking outside the United States exceeds net income derived from the business of banking in the United States. (b) Determining assets, revenues, and net income. (1)(i) For purposes of paragraph (a) of this section, the total assets, revenues, and net income of an organization may be determined on a consolidated or combined basis. (ii) The foreign banking organization shall include assets, revenues, and net income of companies in which it owns 50 percent or more of the voting shares when determining total assets, revenues, and net income. (iii) The foreign banking organization may include assets, revenues, and net income of companies in which it owns 25 percent or more of the voting shares, if all such companies within the organization are included. (2) Assets devoted to, or revenues or net income derived from, activities listed in Sec. 211.10(a) shall be considered banking assets, or revenues or net income derived from the banking business, when conducted within the foreign banking organization by a foreign bank or its subsidiaries. (c) Limited exemptions available to foreign banking organizations in certain circumstances. The following shall apply where a foreign bank meets the requirements of paragraph (a) of this section but its ultimate parent does not: (1) Such foreign bank shall be entitled to the exemptions available to a qualifying foreign banking organization if its ultimate parent meets the requirements set forth in paragraph (a)(2) of this section and could meet the requirements in paragraph (a)(1) of this section but for the requirement in paragraph (b)(2) of this section that activities must be conducted by the foreign bank or its subsidiaries in order to be considered derived from the banking business; (2) An ultimate parent as described in paragraph (c)(1) of this section shall be eligible for the exemptions available to a qualifying foreign banking organization except for those provided in Sec. 211.23(f)(5)(iii). (d) Loss of eligibility for exemptions--(1) Failure to meet qualifying test. A foreign banking organization that qualified under paragraph (a) or (c) of this section shall cease to be eligible for the exemptions of this section if it fails to meet the requirements of paragraphs (a) or (c) of this section for two consecutive years, as reflected in its annual reports (FR Y-7) filed with the Board. (2) Continuing activities and investments. (i) A foreign banking organization that ceases to be eligible for the exemptions of this section may continue to engage in activities or retain investments commenced or acquired prior to the end of the first fiscal year for which its annual report reflects nonconformance with paragraph (a) or (c) of this section. (ii) Termination or divestiture. Activities commenced or investments made after that date shall be terminated or divested within three months of the filing of the second annual report, or at such time as the Board may determine upon request by the foreign banking [[Page 339]] organization to extend the period, unless the Board grants consent to continue the activity or retain the investment under paragraph (e) of this section. (3) Request for specific determination of eligibility. (i) A foreign banking organization that ceases to qualify under paragraph (a) or (c) of this section, or an affiliate of such foreign banking organization, that requests a specific determination of eligibility under paragraph (e) of this section may, prior to the Board's determination on eligibility, continue to engage in activities and make investments under the provisions of paragraphs (f)(1), (2), (3), and (4) of this section. (ii) The Board may grant consent for the foreign banking organization or its affiliate to make investments under paragraph (f)(5) of this section. (e) Specific determination of eligibility for organizations that do not qualify for the exemptions--(1) Application. (i) A foreign organization that is not a foreign banking organization or a foreign banking organization that does not qualify under paragraph (a) or (c) of this section for some or all of the exemptions afforded by this section, or that has lost its eligibility for the exemptions under paragraph (d) of this section, may apply to the Board for a specific determination of eligibility for some or all of the exemptions. (ii) A foreign banking organization may apply for a specific determination prior to the time it ceases to be eligible for the exemptions afforded by this section. (2) Factors considered by Board. In determining whether eligibility for the exemptions would be consistent with the purposes of the BHC Act and in the public interest, the Board shall consider: (i) The history and the financial and managerial resources of the foreign organization or foreign banking organization; (ii) The amount of its business in the United States; (iii) The amount, type, and location of its nonbanking activities, including whether such activities may be conducted by U.S. banks or bank holding companies; (iv) Whether eligibility of the foreign organization or foreign banking organization would result in undue concentration of resources, decreased or unfair competition, conflicts of interests, or unsound banking practices; and (v) The extent to which the foreign banking organization is subject to comprehensive supervision or regulation on a consolidated basis or the foreign organization is subject to oversight by regulatory authorities in its home country. (3) Conditions and limitations. The Board may impose any conditions and limitations on a determination of eligibility, including requirements to cease activities or dispose of investments. (4) Eligibility not granted. Determinations of eligibility generally would not be granted where a majority of the business of the foreign organization or foreign banking organization derives from commercial or industrial activities. (f) Permissible activities and investments. A foreign banking organization that qualifies under paragraph (a) of this section may: (1) Engage in activities of any kind outside the United States; (2) Engage directly in activities in the United States that are incidental to its activities outside the United States; (3) Own or control voting shares of any company that is not engaged, directly or indirectly, in any activities in the United States, other than those that are incidental to the international or foreign business of such company; (4) Own or control voting shares of any company in a fiduciary capacity under circumstances that would entitle such shareholding to an exemption under section 4(c)(4) of the BHC Act (12 U.S.C. 1843(c)(4)) if the shares were held or acquired by a bank; (5) Own or control voting shares of a foreign company that is engaged directly or indirectly in business in the United States other than that which is incidental to its international or foreign business, subject to the following limitations: (i) More than 50 percent of the foreign company's consolidated assets shall be located, and consolidated revenues derived from, outside the United [[Page 340]] States; provided that, if the foreign company fails to meet the requirements of this paragraph (f)(5)(i) for two consecutive years (as reflected in annual reports (FR Y-7) filed with the Board by the foreign banking organization), the foreign company shall be divested or its activities terminated within one year of the filing of the second consecutive annual report that reflects nonconformance with the requirements of this paragraph (f)(5)(i), unless the Board grants consent to retain the investment under paragraph (g) of this section; (ii) The foreign company shall not directly underwrite, sell, or distribute, nor own or control more than 10 percent of the voting shares of a company that underwrites, sells, or distributes securities in the United States, except to the extent permitted bank holding companies; (iii) If the foreign company is a subsidiary of the foreign banking organization, the foreign company must be, or must control, an operating company, and its direct or indirect activities in the United States shall be subject to the following limitations: (A) The foreign company's activities in the United States shall be the same kind of activities, or related to the activities, engaged in directly or indirectly by the foreign company abroad, as measured by the ``establishment'' categories of the Standard Industrial Classification (SIC). An activity in the United States shall be considered related to an activity outside the United States if it consists of supply, distribution, or sales in furtherance of the activity; (B) The foreign company may engage in activities in the United States that consist of banking, securities, insurance, or other financial operations, or types of activities permitted by regulation or order under section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)), only under regulations of the Board or with the prior approval of the Board, subject to the following; (1) Activities within Division H (Finance, Insurance, and Real Estate) of the SIC shall be considered banking or financial operations for this purpose, with the exception of acting as operators of nonresidential buildings (SIC 6512), operators of apartment buildings (SIC 6513), operators of dwellings other than apartment buildings (SIC 6514), and operators of residential mobile home sites (SIC 6515); and operating title abstract offices (SIC 6541); and (2) The following activities shall be considered financial activities and may be engaged in only with the approval of the Board under paragraph (g) of this section: credit reporting services (SIC 7323); computer and data processing services (SIC 7371, 7372, 7373, 7374, 7375, 7376, 7377, 7378, and 7379); armored car services (SIC 7381); management consulting (SIC 8732, 8741, 8742, and 8748); certain rental and leasing activities (SIC 4741, 7352, 7353, 7359, 7513, 7514, 7515, and 7519); accounting, auditing, and bookkeeping services (SIC 8721); courier services (SIC 4215 and 4513); and arrangement of passenger transportation (SIC 4724, 4725, and 4729). (g) Exemptions under section 4(c)(9) of the BHC Act. A foreign banking organization that is of the opinion that other activities or investments may, in particular circumstances, meet the conditions for an exemption under section 4(c)(9) of the BHC Act (12 U.S.C. 1843(c)(9)) may apply to the Board for such a determination by submitting to the appropriate Federal Reserve Bank a letter setting forth the basis for that opinion. (h) Reports. The foreign banking organization shall report in a manner prescribed by the Board any direct activities in the United States by a foreign subsidiary of the foreign banking organization and the acquisition of all shares of companies engaged, directly or indirectly, in activities in the United States that were acquired under the authority of this section. (i) Availability of information. If any information required under this section is unknown and not reasonably available to the foreign banking organization (either because obtaining it would involve unreasonable effort or expense, or because it rests exclusively within the knowledge of a company that is not controlled by the organization) the organization shall: (1) Give such information on the subject as it possesses or can reasonably acquire, together with the sources thereof; and [[Page 341]] (2) Include a statement showing that unreasonable effort or expense would be involved, or indicating that the company whose shares were acquired is not controlled by the organization, and stating the result of a request for information. Sec. 211.24 Approval of offices of foreign banks; procedures for applications; standards for approval; representative office activities and standards for approval; preservation of existing authority. (a) Board approval of offices of foreign banks--(1) Prior Board approval of branches, agencies, commercial lending companies, or representative offices of foreign banks. (i) Except as otherwise provided in paragraphs (a)(2) and (a)(3) of this section, a foreign bank shall obtain the approval of the Board before it: (A) Establishes a branch, agency, commercial lending company subsidiary, or representative office in the United States; or (B) Acquires ownership or control of a commercial lending company subsidiary. (2) Prior notice for certain offices. (i) After providing 45 days' prior written notice to the Board, a foreign bank may establish: (A) An additional office (other than a domestic branch outside the home state of the foreign bank established pursuant to section 5(a)(3) of the IBA (12 U.S.C. 3103(a)(3))), provided that the Board has previously determined the foreign bank to be subject to comprehensive supervision or regulation on a consolidated basis by its home country supervisor (comprehensive consolidated supervision or CCS); or (B) A representative office, if: (1) The Board has not yet determined the foreign bank to be subject to consolidated comprehensive supervision, but the foreign bank is subject to the BHC Act, either directly or through section 8(a) of the IBA (12 U.S.C. 3106(a)); or (2) The Board previously has approved an application by the foreign bank to establish a branch or agency pursuant to the standard set forth in paragraph (c)(1)(iii) of this section; or (3) The Board previously has approved an application by the foreign bank to establish a representative office. (ii) The Board may waive the 45-day notice period if it finds that immediate action is required by the circumstances presented. The notice period shall commence at the time the notice is received by the appropriate Federal Reserve Bank. The Board may suspend the period or require Board approval prior to the establishment of such office if the notification raises significant policy or supervisory concerns. (3) General consent for certain representative offices. (i) The Board grants its general consent for a foreign bank that is subject to the BHC Act, either directly or through section 8(a) of the IBA (12 U.S.C. 3106(a)), to establish: (A) A representative office, but only if the Board has previously determined that the foreign bank proposing to establish a representative office is subject to consolidated comprehensive supervision; (B) A regional administrative office; or (C) An office that solely engages in limited administrative functions (such as separately maintaining back-office support systems) that: (1) Are clearly defined; (2) Are performed in connection with the U.S. banking activities of the foreign bank; and (3) Do not involve contact or liaison with customers or potential customers, beyond incidental contact with existing customers relating to administrative matters (such as verification or correction of account information). (4) Suspension of general consent or prior notice procedures. The Board may, at any time, upon notice, modify or suspend the prior notice and general consent procedures in paragraphs (a)(2) and (3) of this section for any foreign bank with respect to the establishment by such foreign bank of any U.S. office of such foreign bank. (5) Temporary offices. The Board may, in its discretion, determine that a foreign bank has not established an office if the foreign bank temporarily operates at one or more additional locations in the same city of an existing branch or agency due to renovations, an expansion of activities, a merger or [[Page 342]] consolidation of the operations of affiliated foreign banks or companies, or other similar circumstances. The foreign bank must provide reasonable advance notice of its intent temporarily to utilize additional locations, and the Board may impose such conditions in connection with its determination as it deems necessary. (6) After-the-fact Board approval. Where a foreign bank proposes to establish an office in the United States through the acquisition of, or merger or consolidation with, another foreign bank with an office in the United States, the Board may, in its discretion, allow the acquisition, merger, or consolidation to proceed before an application to establish the office has been filed or acted upon under this section if: (i) The foreign bank or banks resulting from the acquisition, merger, or consolidation, will not directly or indirectly own or control more than 5 percent of any class of the voting securities of, or control, a U.S. bank; (ii) The Board is given reasonable advance notice of the proposed acquisition, merger, or consolidation; and (iii) Prior to consummation of the acquisition, merger, or consolidation, each foreign bank, as appropriate, commits in writing either: (A) To comply with the procedures for an application under this section within a reasonable period of time; to engage in no new lines of business, or otherwise to expand its U.S. activities until the disposition of the application; and to abide by the Board's decision on the application, including, if necessary, a decision to terminate the activities of any such U.S. office, as the Board or the Comptroller may require; or (B) Promptly to wind-down and close any office, the establishment of which would have required an application under this section; and to engage in no new lines of business or otherwise to expand its U.S. activities prior to the closure of such office. (7) Notice of change in ownership or control or conversion of existing office or establishment of representative office under general- consent authority. A foreign bank with a U.S. office shall notify the Board in writing within 10 days of the occurrence of any of the following events: (i) A change in the foreign bank's ownership or control, where the foreign bank is acquired or controlled by another foreign bank or company and the acquired foreign bank with a U.S. office continues to operate in the same corporate form as prior to the change in ownership or control; (ii) The conversion of a branch to an agency or representative office; an agency to a representative office; or a branch or agency from a federal to a state license, or a state to a federal license; or (iii) The establishment of a representative office under general- consent authority. (8) Transactions subject to approval under Regulation Y. Subpart B of Regulation Y (12 CFR 225.11-225.17) governs the acquisition by a foreign banking organization of direct or indirect ownership or control of any voting securities of a bank or bank holding company in the United States if the acquisition results in the foreign banking organization's ownership or control of more than 5 percent of any class of voting securities of a U.S. bank or bank holding company, including through acquisition of a foreign bank or foreign banking organization that owns or controls more than 5 percent of any class of the voting securities of a U.S. bank or bank holding company. (b) Procedures for application--(1) Filing application. An application for the Board's approval pursuant to this section shall be filed in the manner prescribed by the Board. (2) Publication requirement--(i) Newspaper notice. Except with respect to a proposed transaction where more extensive notice is required by statute or as otherwise provided in paragraphs (b)(2)(ii) and (iii) of this section, an applicant under this section shall publish a notice in a newspaper of general circulation in the community in which the applicant proposes to engage in business. (ii) Contents of notice. The newspaper notice shall: (A) State that an application is being filed as of the date of the newspaper notice; and [[Page 343]] (B) Provide the name of the applicant, the subject matter of the application, the place where comments should be sent, and the date by which comments are due, pursuant to paragraph (b)(3) of this section. (iii) Copy of notice with application. The applicant shall furnish with its application to the Board a copy of the newspaper notice, the date of its publication, and the name and address of the newspaper in which it was published. (iv) Exception. The Board may modify the publication requirement of paragraphs (b)(2)(i) and (ii) of this section in appropriate circumstances. (v) Federal branch or federal agency. In the case of an application to establish a federal branch or federal agency, compliance with the publication procedures of the Comptroller shall satisfy the publication requirement of this section. Comments regarding the application should be sent to the Board and the Comptroller. (3) Written comments. (i) Within 30 days after publication, as required in paragraph (b)(2) of this section, any person may submit to the Board written comments and data on an application. (ii) The Board may extend the 30-day comment period if the Board determines that additional relevant information is likely to be provided by interested persons, or if other extenuating circumstances exist. (4) Board action on application--(i) Time limits. (A) The Board shall act on an application from a foreign bank to establish a branch, agency, or commercial lending company subsidiary within 180 calendar days after the receipt of the application. (B) The Board may extend for an additional 180 calendar days the period within which to take final action, after providing notice of and reasons for the extension to the applicant and the licensing authority. (C) The time periods set forth in this paragraph (b)(4)(i) may be waived by the applicant. (ii) Additional information. The Board may request any information in addition to that supplied in the application when the Board believes that the information is necessary for its decision, and may deny an application if it does not receive the information requested from the applicant or its home country supervisor in sufficient time to permit adequate evaluation of the information within the time periods set forth in paragraph (b)(4)(i) of this section. (5) Coordination with other regulators. Upon receipt of an application by a foreign bank under this section, the Board shall promptly notify, consult with, and consider the views of the licensing authority. (c) Standards for approval of U.S. offices of foreign banks--(1) Mandatory standards--(i) General. As specified in section 7(d) of the IBA (12 U.S.C. 3105(d)), the Board may not approve an application to establish a branch or an agency, or to establish or acquire ownership or control of a commercial lending company, unless it determines that: (A) Each of the foreign bank and any parent foreign bank engages directly in the business of banking outside the United States and, except as provided in paragraph (c)(1)(iii) of this section, is subject to comprehensive supervision or regulation on a consolidated basis by its home country supervisor; and (B) The foreign bank has furnished to the Board the information that the Board requires in order to assess the application adequately. (ii) Basis for determining comprehensive consolidated supervision. In determining whether a foreign bank and any parent foreign bank is subject to comprehensive consolidated supervision, the Board shall determine whether the foreign bank is supervised or regulated in such a manner that its home country supervisor receives sufficient information on the worldwide operations of the foreign bank (including the relationships of the bank to any affiliate) to assess the foreign bank's overall financial condition and compliance with law and regulation. In making such a determination, the Board shall assess, among other factors, the extent to which the home country supervisor: (A) Ensures that the foreign bank has adequate procedures for monitoring and controlling its activities worldwide; [[Page 344]] (B) Obtains information on the condition of the foreign bank and its subsidiaries and offices outside the home country through regular reports of examination, audit reports, or otherwise; (C) Obtains information on the dealings and relationship between the foreign bank and its affiliates, both foreign and domestic; (D) Receives from the foreign bank financial reports that are consolidated on a worldwide basis, or comparable information that permits analysis of the foreign bank's financial condition on a worldwide, consolidated basis; (E) Evaluates prudential standards, such as capital adequacy and risk asset exposure, on a worldwide basis. (iii) Determination of comprehensive consolidated supervision not required in certain circumstances. (A) If the Board is unable to find, under paragraph (c)(1)(i) of this section, that a foreign bank is subject to comprehensive consolidated supervision, the Board may, nevertheless, approve an application by the foreign bank if: (1) The home country supervisor is actively working to establish arrangements for the consolidated supervision of such bank; and (2) All other factors are consistent with approval. (B) In deciding whether to use its discretion under this paragraph (c)(1)(iii), the Board also shall consider whether the foreign bank has adopted and implemented procedures to combat money laundering. The Board also may take into account whether the home country supervisor is developing a legal regime to address money laundering or is participating in multilateral efforts to combat money laundering. In approving an application under this paragraph (c)(1)(iii), the Board, after requesting and taking into consideration the views of the licensing authority, may impose any conditions or restrictions relating to the activities or business operations of the proposed branch, agency, or commercial lending company subsidiary, including restrictions on sources of funding. The Board shall coordinate with the licensing authority in the implementation of such conditions or restrictions. (2) Additional standards. In acting on any application under this subpart, the Board may take into account: (i) Consent of home country supervisor. Whether the home country supervisor of the foreign bank has consented to the proposed establishment of the branch, agency, or commercial lending company subsidiary; (ii) Financial resources. The financial resources of the foreign bank (including the foreign bank's capital position, projected capital position, profitability, level of indebtedness, and future prospects) and the condition of any U.S. office of the foreign bank; (iii) Managerial resources. The managerial resources of the foreign bank, including the competence, experience, and integrity of the officers and directors; the integrity of its principal shareholders; management's experience and capacity to engage in international banking; and the record of the foreign bank and its management of complying with laws and regulations, and of fulfilling any commitments to, and any conditions imposed by, the Board in connection with any prior application; (iv) Sharing information with supervisors. Whether the foreign bank's home country supervisor and the home country supervisor of any parent of the foreign bank share material information regarding the operations of the foreign bank with other supervisory authorities; (v) Assurances to Board. (A) Whether the foreign bank has provided the Board with adequate assurances that information will be made available to the Board on the operations or activities of the foreign bank and any of its affiliates that the Board deems necessary to determine and enforce compliance with the IBA, the BHC Act, and other applicable federal banking statutes. (B) These assurances shall include a statement from the foreign bank describing the laws that would restrict the foreign bank or any of its parents from providing information to the Board; (vi) Measures for prevention of money laundering. Whether the foreign bank has adopted and implemented procedures to combat money laundering, whether there is a legal regime in place [[Page 345]] in the home country to address money laundering, and whether the home country is participating in multilateral efforts to combat money laundering; (vii) Compliance with U.S. law. Whether the foreign bank and its U.S. affiliates are in compliance with applicable U.S. law, and whether the applicant has established adequate controls and procedures in each of its offices to ensure continuing compliance with U.S. law, including controls directed to detection of money laundering and other unsafe or unsound banking practices; and (viii) The needs of the community and the history of operation of the foreign bank and its relative size in its home country, provided that the size of the foreign bank is not the sole factor in determining whether an office of a foreign bank should be approved. (3) Additional standards for certain interstate applications. (i) As specified in section 5(a)(3) of the IBA (12 U.S.C. 3103(a)(3)), the Board may not approve an application by a foreign bank to establish a branch, other than a limited branch, outside the home state of the foreign bank under section 5(a)(1) or (2) of the IBA (12 U.S.C. 3103(a)(1), (2)) unless the Board: (A) Determines that the foreign bank's financial resources, including the capital level of the bank, are equivalent to those required for a domestic bank to be approved for branching under section 5155 of the Revised Statutes (12 U.S.C. 36) and section 44 of the Federal Deposit Insurance Act (FDIA) (12 U.S.C. 1831u); (B) Consults with the Department of the Treasury regarding capital equivalency; (C) Applies the standards specified in section 7(d) of the IBA (12 U.S.C. 3105(d)) and this paragraph (c); and (D) Applies the same requirements and conditions to which an application by a domestic bank for an interstate merger is subject under section 44(b)(1), (3), and (4) of the FDIA (12 U.S.C. 1831u(b)(1), (3), (4)); and (ii) As specified in section 5(a)(7) of the IBA (12 U.S.C. 3103(a)(7)), the Board may not approve an application to establish a branch through a change in status of an agency or limited branch outside the foreign bank's home state unless: (A) The establishment and operation of such branch is permitted by such state; and (B) Such agency or branch has been in operation in such state for a period of time that meets the state's minimum age requirement permitted under section 44(a)(5) of the Federal Deposit Insurance Act (12 U.S.C. 183u(a)(5)). (4) Board conditions on approval. The Board may impose any conditions on its approval as it deems necessary, including a condition which may permit future termination by the Board of any activities or, in the case of a federal branch or a federal agency, by the Comptroller, based on the inability of the foreign bank to provide information on its activities or those of its affiliates that the Board deems necessary to determine and enforce compliance with U.S. banking laws. (d) Representative offices--(1) Permissible activities. A representative office may engage in: (i) Representational and administrative functions. Representational and administrative functions in connection with the banking activities of the foreign bank, which may include soliciting new business for the foreign bank; conducting research; acting as liaison between the foreign bank's head office and customers in the United States; performing preliminary and servicing steps in connection with lending; \11\ or performing back-office functions; but shall not include contracting for any deposit or deposit-like liability, lending money, or engaging in any other banking activity for the foreign bank; --------------------------------------------------------------------------- \11\ See 12 CFR 250.141(h) for activities that constitute preliminary and servicing steps. --------------------------------------------------------------------------- (ii) Credit approvals under certain circumstances. Making credit decisions if the foreign bank also operates one or more branches or agencies in the United States, the loans approved at the representative office are made by a U.S. office of the bank, and the loan proceeds are not disbursed in the representative office; and (iii) Other functions. Other functions for or on behalf of the foreign bank or its affiliates, such as operating as a regional administrative office of the foreign bank, but only to the extent that [[Page 346]] these other functions are not banking activities and are not prohibited by applicable federal or state law, or by ruling or order of the Board. (2) Standards for approval of representative offices. As specified in section 10(a)(2) of the IBA (12 U.S.C. 3107(a)(2)), in acting on the application of a foreign bank to establish a representative office, the Board shall take into account, to the extent it deems appropriate, the standards for approval set out in paragraph (c) of this section. The standard regarding supervision by the foreign bank's home country supervisor (as set out in paragraph (c)(1)(i)(A) of this section) will be met, in the case of a representative office application, if the Board makes a finding that the applicant bank is subject to a supervisory framework that is consistent with the activities of the proposed representative office, taking into account the nature of such activities and the operating record of the applicant. (3) Special-purpose foreign government-owned banks. A foreign government-owned organization engaged in banking activities in its home country that are not commercial in nature may apply to the Board for a determination that the organization is not a foreign bank for purposes of this section. A written request setting forth the basis for such a determination may be submitted to the Reserve Bank of the District in which the foreign organization's representative office is located in the United States, or to the Board, in the case of a proposed establishment of a representative office. The Board shall review and act upon each request on a case-by-case basis. (4) Additional requirements. The Board may impose any additional requirements that it determines to be necessary to carry out the purposes of the IBA. (e) Preservation of existing authority. Nothing in this subpart shall be construed to relieve any foreign bank or foreign banking organization from any otherwise applicable requirement of federal or state law, including any applicable licensing requirement. (f) Reports of crimes and suspected crimes. Except for a federal branch or a federal agency or a state branch that is insured by the Federal Deposit Insurance Corporation (FDIC), a branch, agency, or representative office of a foreign bank operating in the United States shall file a suspicious activity report in accordance with the provisions of Sec. 208.62 of Regulation H (12 CFR 208.62). (g) Management of shell branches. (1) A state-licensed branch or agency shall not manage, through an office of the foreign bank which is located outside the United States and is managed or controlled by such state-licensed branch or agency, any type of activity that a bank organized under the laws of the United States or any state is not permitted to manage at any branch or subsidiary of such bank which is located outside the United States. (2) For purposes of this paragraph (g), an office of a foreign bank located outside the United States is ``managed or controlled'' by a state-licensed branch or agency if a majority of the responsibility for business decisions, including but not limited to decisions with regard to lending or asset management or funding or liability management, or the responsibility for recordkeeping in respect of assets or liabilities for that non-U.S. office, resides at the state-licensed branch or agency. (3) The types of activities that a state-licensed branch or agency may manage through an office located outside the United States that it manage or controls include the types of activities authorized to a U.S. bank by state or federal charters, regulations issued by chartering or regulatory authorities, and other U.S. banking laws, including the Federal Reserve Act, and the implementing regulations, but U.S. procedural or quantitative requirements that may be applicable to the conduct of such activities by U.S. banks shall not apply. (h) Government securities sales practices. An uninsured state- licensed branch or agency of a foreign bank that is required to give notice to the Board under section 15C of the Securities Exchange Act of 1934 (15 U.S.C. 78o-5) and the Department of the Treasury rules under section 15C (17 CFR 400.1(d) and part 401) shall be subject to the provisions of 12 CFR 208.37 to the same extent as a state member [[Page 347]] bank that is required to give such notice. (i) Protection of customer information and consumer information. An uninsured state-licensed branch or agency of a foreign bank shall comply with the Interagency Guidelines Establishing Information Security Standards prescribed pursuant to sections 501 and 505 of the Gramm- Leach-Bliley Act (15 U.S.C. 6801 and 6805) and, with respect to the proper disposal of consumer information, section 216 of the Fair and Accurate Credit Transactions Act of 2003 (15 U.S.C. 1681w), set forth in appendix D-2 to part 208 of this chapter. (j) Procedures for monitoring Bank Secrecy Act compliance--(1) Establishment of Compliance Program. Except for a Federal branch or a Federal agency or a state branch that is insured by the FDIC, a branch, agency, or representative office of a foreign bank operating in the United States shall, in accordance with the provisions of Sec. 208.63 of the Board's Regulation H, 12 CFR 208.63, develop and provide for the continued administration of a program reasonably designed to assure and monitor compliance with the provisions of subchapter II of chapter 53 of title 31, United States Code, the Bank Secrecy Act, and the implementing regulations promulgated thereunder by the Department of the Treasury at 31 CFR part 103. The compliance program shall be reduced to writing, and either: (i) Approved by the foreign bank's board of directors and noted in the minutes, or (ii) Approved by a delegee acting under the express authority of the board of directors to approve the Bank Secrecy Act compliance program. (2) Customer identification program. Except for a federal branch or a federal agency or a state branch that is insured by the FDIC, a branch, agency, or representative office of a foreign bank operating in the United States is subject to the requirements of 31 U.S.C. 5318(l) and the implementing regulation jointly promulgated by the Board and the Department of the Treasury at 31 CFR 103.121, which require a customer identification program. [66 FR 53474, Oct. 26, 2001, as amended at 68 FR 35112, May 9, 2003; 69 FR 77618, Dec. 28, 2004; 71 FR 13936, Mar. 20, 2006; 75 FR 44692, July 28, 2010; 84 FR 21692, May 15, 2019] Sec. 211.25 Termination of offices of foreign banks. (a) Grounds for termination--(1) General. Under sections 7(e) and 10(b) of the IBA (12 U.S.C. 3105(d), 3107(b)), the Board may order a foreign bank to terminate the activities of its representative office, state branch, state agency, or commercial lending company subsidiary if the Board finds that: (i) The foreign bank is not subject to comprehensive consolidated supervision in accordance with Sec. 211.24(c)(1), and the home country supervisor is not making demonstrable progress in establishing arrangements for the consolidated supervision of the foreign bank; or (ii) Both of the following criteria are met: (A) There is reasonable cause to believe that the foreign bank, or any of its affiliates, has committed a violation of law or engaged in an unsafe or unsound banking practice in the United States; and (B) As a result of such violation or practice, the continued operation of the foreign bank's representative office, state branch, state agency, or commercial lending company subsidiary would not be consistent with the public interest, or with the purposes of the IBA, the BHC Act, or the FDIA. (2) Additional ground. The Board also may enforce any condition imposed in connection with an order issued under Sec. 211.24. (b) Factor. In making its findings under this section, the Board may take into account the needs of the community, the history of operation of the foreign bank, and its relative size in its home country, provided that the size of the foreign bank shall not be the sole determining factor in a decision to terminate an office. (c) Consultation with relevant state supervisor. Except in the case of termination pursuant to the expedited procedure in paragraph (d)(3) of this section, [[Page 348]] the Board shall request and consider the views of the relevant state supervisor before issuing an order terminating the activities of a state branch, state agency, representative office, or commercial lending company subsidiary under this section. (d) Termination procedures--(1) Notice and hearing. Except as otherwise provided in paragraph (d)(3) of this section, an order issued under paragraph (a)(1) of this section shall be issued only after notice to the relevant state supervisor and the foreign bank and after an opportunity for a hearing. (2) Procedures for hearing. Hearings under this section shall be conducted pursuant to the Board's Rules of Practice for Hearings (12 CFR part 263). (3) Expedited procedure. The Board may act without providing an opportunity for a hearing, if it determines that expeditious action is necessary in order to protect the public interest. When the Board finds that it is necessary to act without providing an opportunity for a hearing, the Board, solely in its discretion, may: (i) Provide the foreign bank that is the subject of the termination order with notice of the intended termination order; (ii) Grant the foreign bank an opportunity to present a written submission opposing issuance of the order; or (iii) Take any other action designed to provide the foreign bank with notice and an opportunity to present its views concerning the order. (e) Termination of federal branch or federal agency. The Board may transmit to the Comptroller a recommendation that the license of a federal branch or federal agency be terminated if the Board has reasonable cause to believe that the foreign bank or any affiliate of the foreign bank has engaged in conduct for which the activities of a state branch or state agency may be terminated pursuant to this section. (f) Voluntary termination. A foreign bank shall notify the Board at least 30 days prior to terminating the activities of any office. Notice pursuant to this paragraph (f) is in addition to, and does not satisfy, any other federal or state requirements relating to the termination of an office or the requirement for prior notice of the closing of a branch, pursuant to section 39 of the FDIA (12 U.S.C. 1831p). Sec. 211.26 Examination of offices and affiliates of foreign banks. (a) Conduct of examinations--(1) Examination of branches, agencies, commercial lending companies, and affiliates. The Board may examine: (i) Any branch or agency of a foreign bank; (ii) Any commercial lending company or bank controlled by one or more foreign banks, or one or more foreign companies that control a foreign bank; and (iii) Any other office or affiliate of a foreign bank conducting business in any state. (2) Examination of representative offices. The Board may examine any representative office in the manner and with the frequency it deems appropriate. (b) Coordination of examinations. To the extent possible, the Board shall coordinate its examinations of the U.S. offices and U.S. affiliates of a foreign bank with the licensing authority and, in the case of an insured branch, the Federal Deposit Insurance Corporation (FDIC), including through simultaneous examinations of the U.S. offices and U.S. affiliates of a foreign bank. (c) Frequency of on-site examination--(1) General. Each branch or agency of a foreign bank shall be examined on-site at least once during each 12-month period (beginning on the date the most recent examination of the office ended) by-- (i) The Board; (ii) The FDIC, if the branch of the foreign bank accepts or maintains insured deposits; (iii) The Comptroller, if the branch or agency of the foreign bank is licensed by the Comptroller; or (iv) The state supervisor, if the office of the foreign bank is licensed or chartered by the state. (2) 18-month cycle for certain small institutions--(i) Mandatory standards. The Board may conduct a full-scope, on-site examination at least once during each 18-month period, rather than each 12-month period as required in paragraph (c)(1) of this section, if the branch or agency-- [[Page 349]] (A) Has total assets of less than $3 billion; (B) Has received a composite ROCA supervisory rating (which rates risk management, operational controls, compliance, and asset quality) of 1 or 2 at its most recent examination; (C) Satisfies the requirement of either the following paragraph (c)(2)(i)(C)(1) or (2): (1) The foreign bank's most recently reported capital adequacy position consists of, or is equivalent to, tier 1 and total risk-based capital ratios of at least 6 percent and 10 percent, respectively, on a consolidated basis; or (2) The branch or agency has maintained on a daily basis, over the past three quarters, eligible assets in an amount not less than 108 percent of the preceding quarter's average third-party liabilities (determined consistent with applicable federal and state law) and sufficient liquidity is currently available to meet its obligations to third parties; (D) Is not subject to a formal enforcement action or order by the Board, FDIC, or OCC; and (E) Has not experienced a change in control during the preceding 12- month period in which a full-scope, on-site examination would have been required but for this section. (ii) Discretionary standards. In determining whether a branch or agency of a foreign bank that meets the standards of paragraph (c)(2)(i) of this section should not be eligible for an 18-month examination cycle pursuant to this paragraph (c)(2), the Board may consider additional factors, including whether-- (A) Any of the individual components of the ROCA supervisory rating of a branch or agency of a foreign bank is rated ``3'' or worse; (B) The results of any off-site surveillance indicate a deterioration in the condition of the office; (C) The size, relative importance, and role of a particular office when reviewed in the context of the foreign bank's entire U.S. operations otherwise necessitate an annual examination; and (D) The condition of the foreign bank gives rise to such a need. (iii)(A) Except as provided in paragraph (c)(2)(iii)(B) of this section, from December 2, 2020 through December 31, 2021, for purposes of determining eligibility for the extended examination cycle described in paragraph (c)(2) of this section, the total assets of a branch or agency shall be determined based on the lesser of: (1) The total assets of the branch or agency as of December 31, 2019; and (2) The total assets of the branch or agency as of the end of the most recent calendar quarter. (B) The relief provided under paragraph (c)(2)(iii)(A) of this section does not apply to a branch or agency if the Board determines that permitting the branch or agency to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the branch or agency. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the branch or agency since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the branch or agency has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the branch or agency. In making a determination pursuant to this paragraph (c)(2)(iii)(B), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (3) Authority to conduct more frequent examinations. Nothing in paragraphs (c)(1) and (2) of this section limits the authority of the Board to examine any U.S. branch or agency of a foreign bank as frequently as it deems necessary. [Reg. K, 66 FR 54374, Oct. 26, 2001, as amended at 72 FR 17802, Apr. 10, 2007; 81 FR 10069, Feb. 29, 2016; 83 FR 43965, Aug. 29, 2018; 85 FR 77360, Dec. 2, 2020] Sec. 211.27 Disclosure of supervisory information to foreign supervisors. (a) Disclosure by Board. The Board may disclose information obtained in the course of exercising its supervisory or examination authority to a foreign [[Page 350]] bank regulatory or supervisory authority, if the Board determines that disclosure is appropriate for bank supervisory or regulatory purposes and will not prejudice the interests of the United States. (b) Confidentiality. Before making any disclosure of information pursuant to paragraph (a) of this section, the Board shall obtain, to the extent necessary, the agreement of the foreign bank regulatory or supervisory authority to maintain the confidentiality of such information to the extent possible under applicable law. Sec. 211.28 Provisions applicable to branches and agencies: limitation on loans to one borrower. (a) Limitation on loans to one borrower. Except as provided in paragraph (b) of this section, the total loans and extensions of credit by all the state branches and state agencies of a foreign bank outstanding to a single borrower at one time shall be aggregated with the total loans and extensions of credit by all federal branches and federal agencies of the same foreign bank outstanding to such borrower at the time; and shall be subject to the limitations and other provisions of section 5200 of the Revised Statutes (12 U.S.C. 84), and the regulations promulgated thereunder, in the same manner that extensions of credit by a federal branch or federal agency are subject to section 4(b) of the IBA (12 U.S.C. 3102(b)) as if such state branches and state agencies were federal branches and federal agencies. (b) Preexisting loans and extensions of credit. Any loans or extensions of credit to a single borrower that were originated prior to December 19, 1991, by a state branch or state agency of the same foreign bank and that, when aggregated with loans and extensions of credit by all other branches and agencies of the foreign bank, exceed the limits set forth in paragraph (a) of this section, may be brought into compliance with such limitations through routine repayment, provided that any new loans or extensions of credit (including renewals of existing unfunded credit lines, or extensions of the maturities of existing loans) to the same borrower shall comply with the limits set forth in paragraph (a) of this section. Sec. 211.29 Applications by state branches and state agencies to conduct activities not permissible for federal branches. (a) Scope. A state branch or state agency shall file with the Board a prior written application for permission to engage in or continue to engage in any type of activity that: (1) Is not permissible for a federal branch, pursuant to statute, regulation, official bulletin or circular, or order or interpretation issued in writing by the Comptroller; or (2) Is rendered impermissible due to a subsequent change in statute, regulation, official bulletin or circular, written order or interpretation, or decision of a court of competent jurisdiction. (b) Exceptions. No application shall be required by a state branch or state agency to conduct any activity that is otherwise permissible under applicable state and federal law or regulation and that: (1) Has been determined by the FDIC, pursuant to 12 CFR 362.4(c)(3)(i) through (c)(3)(ii)(A), not to present a significant risk to the affected deposit insurance fund; (2) Is permissible for a federal branch, but the Comptroller imposes a quantitative limitation on the conduct of such activity by the federal branch; (3) Is conducted as agent rather than as principal, provided that the activity is one that could be conducted by a state-chartered bank headquartered in the same state in which the branch or agency is licensed; or (4) Any other activity that the Board has determined may be conducted by any state branch or state agency of a foreign bank without further application to the Board. (c) Contents of application. An application submitted pursuant to paragraph (a) of this section shall be in letter form and shall contain the following information: (1) A brief description of the activity, including the manner in which it will be conducted, and an estimate of the expected dollar volume associated with the activity; (2) An analysis of the impact of the proposed activity on the condition of [[Page 351]] the U.S. operations of the foreign bank in general, and of the branch or agency in particular, including a copy, if available, of any feasibility study, management plan, financial projections, business plan, or similar document concerning the conduct of the activity; (3) A resolution by the applicant's board of directors or, if a resolution is not required pursuant to the applicant's organizational documents, evidence of approval by senior management, authorizing the conduct of such activity and the filing of this application; (4) If the activity is to be conducted by a state branch insured by the FDIC, statements by the applicant: (i) Of whether or not it is in compliance with 12 CFR 346.19 (Pledge of Assets) and 12 CFR 346.20 (Asset Maintenance); (ii) That it has complied with all requirements of the FDIC concerning an application to conduct the activity and the status of the application, including a copy of the FDIC's disposition of such application, if available; and (iii) Explaining why the activity will pose no significant risk to the deposit insurance fund; and (5) Any other information that the Reserve Bank deems appropriate. (d) Factors considered in determination. (1) The Board shall consider the following factors in determining whether a proposed activity is consistent with sound banking practice: (i) The types of risks, if any, the activity poses to the U.S. operations of the foreign banking organization in general, and the branch or agency in particular; (ii) If the activity poses any such risks, the magnitude of each risk; and (iii) If a risk is not de minimis, the actual or proposed procedures to control and minimize the risk. (2) Each of the factors set forth in paragraph (d)(1) of this section shall be evaluated in light of the financial condition of the foreign bank in general and the branch or agency in particular and the volume of the activity. (e) Application procedures. Applications pursuant to this section shall be filed with the appropriate Federal Reserve Bank. An application shall not be deemed complete until it contains all the information requested by the Reserve Bank and has been accepted. Approval of such an application may be conditioned on the applicant's agreement to conduct the activity subject to specific conditions or limitations. (f) Divestiture or cessation. (1) If an application for permission to continue to conduct an activity is not approved by the Board or, if applicable, the FDIC, the applicant shall submit a detailed written plan of divestiture or cessation of the activity to the appropriate Federal Reserve Bank within 60 days of the disapproval. (i) The divestiture or cessation plan shall describe in detail the manner in which the applicant will divest itself of or cease the activity, and shall include a projected timetable describing how long the divestiture or cessation is expected to take. (ii) Divestiture or cessation shall be complete within one year from the date of the disapproval, or within such shorter period of time as the Board shall direct. (2) If a foreign bank operating a state branch or state agency chooses not to apply to the Board for permission to continue to conduct an activity that is not permissible for a federal branch, or which is rendered impermissible due to a subsequent change in statute, regulation, official bulletin or circular, written order or interpretation, or decision of a court of competent jurisdiction, the foreign bank shall submit a written plan of divestiture or cessation, in conformance with paragraph (f)(1) of this section within 60 days of the effective date of this part or of such change or decision. Sec. 211.30 Criteria for evaluating U.S. operations of foreign banks not subject to consolidated supervision. (a) Development and publication of criteria. Pursuant to the Foreign Bank Supervision Enhancement Act, Pub. L. 102-242, 105 Stat. 2286 (1991), the Board shall develop and publish criteria to be used in evaluating the operations of any foreign bank in the United States that the Board has determined is not subject to comprehensive consolidated supervision. (b) Criteria considered by Board. Following a determination by the Board [[Page 352]] that, having taken into account the standards set forth in Sec. 211.24(c)(1), a foreign bank is not subject to CCS, the Board shall consider the following criteria in determining whether the foreign bank's U.S. operations should be permitted to continue and, if so, whether any supervisory constraints should be placed upon the bank in connection with those operations: (1) The proportion of the foreign bank's total assets and total liabilities that are located or booked in its home country, as well as the distribution and location of its assets and liabilities that are located or booked elsewhere; (2) The extent to which the operations and assets of the foreign bank and any affiliates are subject to supervision by its home country supervisor; (3) Whether the home country supervisor of such foreign bank is actively working to establish arrangements for comprehensive consolidated supervision of the bank, and whether demonstrable progress is being made; (4) Whether the foreign bank has effective and reliable systems of internal controls and management information and reporting, which enable its management properly to oversee its worldwide operations; (5) Whether the foreign bank's home country supervisor has any objection to the bank continuing to operate in the United States; (6) Whether the foreign bank's home country supervisor and the home country supervisor of any parent of the foreign bank share material information regarding the operations of the foreign bank with other supervisory authorities; (7) The relationship of the U.S. operations to the other operations of the foreign bank, including whether the foreign bank maintains funds in its U.S. offices that are in excess of amounts due to its U.S. offices from the foreign bank's non-U.S. offices; (8) The soundness of the foreign bank's overall financial condition; (9) The managerial resources of the foreign bank, including the competence, experience, and integrity of the officers and directors, and the integrity of its principal shareholders; (10) The scope and frequency of external audits of the foreign bank; (11) The operating record of the foreign bank generally and its role in the banking system in its home country; (12) The foreign bank's record of compliance with relevant laws, as well as the adequacy of its anti-money-laundering controls and procedures, in respect of its worldwide operations; (13) The operating record of the U.S. offices of the foreign bank; (14) The views and recommendations of the Comptroller or the relevant state supervisors in those states in which the foreign bank has operations, as appropriate; (15) Whether the foreign bank, if requested, has provided the Board with adequate assurances that such information will be made available on the operations or activities of the foreign bank and any of its affiliates as the Board deems necessary to determine and enforce compliance with the IBA, the BHC Act, and other U.S. banking statutes; and (16) Any other information relevant to the safety and soundness of the U.S. operations of the foreign bank. (c) Restrictions on U.S. operations--(1) Terms of agreement. Any foreign bank that the Board determines is not subject to CCS may be required to enter into an agreement to conduct its U.S. operations subject to such restrictions as the Board, having considered the criteria set forth in paragraph (b) of this section, determines to be appropriate in order to ensure the safety and soundness of its U.S. operations. (2) Failure to enter into or comply with agreement. A foreign bank that is required by the Board to enter into an agreement pursuant to paragraph (c)(1) of this section and either fails to do so, or fails to comply with the terms of such agreement, may be subject to: (i) Enforcement action, in order to ensure safe and sound banking operations, under 12 U.S.C. 1818; or (ii) Termination or a recommendation for termination of its U.S. operations, under Sec. 211.25(a) and (e) and section (7)(e) of the IBA (12 U.S.C. 3105(e)). Subpart C_Export Trading Companies Source: Reg. K, 66 FR 54374, Oct. 26, 2001, unless otherwise noted. [[Page 353]] Sec. 211.31 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board of Governors of the Federal Reserve System (Board) under the authority of the Bank Holding Company Act of 1956 (BHC Act) (12 U.S.C. 1841 et seq.), the Bank Export Services Act (title II, Pub. L. 97-290, 96 Stat. 1235 (1982)) (BESA), and the Export Trading Company Act Amendments of 1988 (title III, Pub. L. 100-418, 102 Stat. 1384 (1988)) (ETC Act Amendments). (b) Purpose and scope. This subpart is in furtherance of the purposes of the BHC Act, the BESA, and the ETC Act Amendments, the latter two statutes being designed to increase U.S. exports by encouraging investments and participation in export trading companies by bank holding companies and the specified investors. The provisions of this subpart apply to eligible investors as defined in this subpart. Sec. 211.32 Definitions. The definitions in Sec. Sec. 211.1 and 211.2 of subpart A apply to this subpart, subject to the following: (a) Appropriate Federal Reserve Bank has the same meaning as in Sec. 211.21(c). (b) Bank has the same meaning as in section 2(c) of the BHC Act (12 U.S.C. 1841(c)). (c) Company has the same meaning as in section 2(b) of the BHC Act (12 U.S.C. 1841(b)). (d) Eligible investors means: (1) Bank holding companies, as defined in section 2(a) of the BHC Act (12 U.S.C. 1841(a)); (2) Edge and agreement corporations that are subsidiaries of bank holding companies but are not subsidiaries of banks; (3) Banker's banks, as described in section 4(c)(14)(F)(iii) of the BHC Act (12 U.S.C. 1843(c)(14)(F)(iii)); and (4) Foreign banking organizations, as defined in Sec. 211.21(o). (e) Export trading company means a company that is exclusively engaged in activities related to international trade and, by engaging in one or more export trade services, derives: (1) At least one-third of its revenues in each consecutive four-year period from the export of, or from facilitating the export of, goods and services produced in the United States by persons other than the export trading company or its subsidiaries; and (2) More revenues in each four-year period from export activities as described in paragraph (e)(1) of this section than it derives from the import, or facilitating the import, into the United States of goods or services produced outside the United States. The four-year period within which to calculate revenues derived from its activities under this section shall be deemed to have commenced with the first fiscal year after the respective export trading company has been in operation for two years. (f) Revenues shall include net sales revenues from exporting, importing, or third-party trade in goods by the export trading company for its own account and gross revenues derived from all other activities of the export trading company. (g) Subsidiary has the same meaning as in section 2(d) of the BHC Act (12 U.S.C. 1841(d)). (h) Well capitalized has the same meaning as in Sec. 225.2(r) of Regulation Y (12 CFR 225.2(r)). (i) Well managed has the same meaning as in Sec. 225.2(s) of Regulation Y (12 CFR 225.2(s)). Sec. 211.33 Investments and extensions of credit. (a) Amount of investments. In accordance with the procedures of Sec. 211.34, an eligible investor may invest no more than 5 percent of its consolidated capital and surplus in one or more export trading companies, except that an Edge or agreement corporation not engaged in banking may invest as much as 25 percent of its consolidated capital and surplus but no more than 5 percent of the consolidated capital and surplus of its parent bank holding company. (b) Extensions of credit--(1) Amount. An eligible investor in an export trading company or companies may extend credit directly or indirectly to the export trading company or companies in a total amount that at no time exceeds 10 percent of the investor's consolidated capital and surplus. (2) Terms. (i) An eligible investor in an export trading company may not extend credit directly or indirectly to the export trading company or any of its [[Page 354]] customers or to any other investor holding 10 percent or more of the shares of the export trading company on terms more favorable than those afforded similar borrowers in similar circumstances, and such extensions of credit shall not involve more than the normal risk of repayment or present other unfavorable features. (ii) For the purposes of this section, an investor in an export trading company includes any affiliate of the investor. (3) Collateral requirements. Covered transactions between a bank and an affiliated export trading company in which a bank holding company has invested pursuant to this subpart are subject to the collateral requirements of section 23A of the Federal Reserve Act (12 U.S.C. 371c), except where a bank issues a letter of credit or advances funds to an affiliated export trading company solely to finance the purchase of goods for which: (i) The export trading company has a bona fide contract for the subsequent sale of the goods; and (ii) The bank has a security interest in the goods or in the proceeds from their sale at least equal in value to the letter of credit or the advance. Sec. 211.34 Procedures for filing and processing notices. (a) General policy. Direct and indirect investments by eligible investors in export trading companies shall be made in accordance with the general consent or prior notice procedures contained in this section. The Board may at any time, upon notice, modify or suspend the general-consent procedures with respect to any eligible investor. (b) General consent--(1) Eligibility for general consent. Subject to the other limitations of this subpart, the Board grants its general consent for any investment an export trading company: (i) If the eligible investor is well capitalized and well managed; (ii) In an amount equal to cash dividends received from that export trading company during the preceding 12 calendar months; or (iii) That is acquired from an affiliate at net asset value or through a contribution of shares. (2) Post-investment notice. By the end of the month following the month in which the investment is made, the investor shall provide the Board with the following information: (i) The amount of the investment and the source of the funds with which the investment was made; and (ii) In the case of an initial investment, a description of the activities in which the export trading company proposes to engage and projections for the export trading company for the first year following the investment. (c) Filing notice--(1) Prior notice. An eligible investor shall give the Board 60 days' prior written notice of any investment in an export trading company that does not qualify under the general consent procedure. (2) Notice of change of activities. (i) An eligible investor shall give the Board 60 days' prior written notice of changes in the activities of an export trading company that is a subsidiary of the investor if the export trading company expands its activities beyond those described in the initial notice to include: (A) Taking title to goods where the export trading company does not have a firm order for the sale of those goods; (B) Product research and design; (C) Product modification; or (D) Activities not specifically covered by the list of activities contained in section 4(c)(14)(F)(ii) of the BHC Act (12 U.S.C. 1843(c)(14)(F)(ii)). (ii) Such an expansion of activities shall be regarded as a proposed investment under this subpart. (d) Time period for Board action. (1) A proposed investment that has not been disapproved by the Board may be made 60 days after the appropriate Federal Reserve Bank accepts the notice for processing. A proposed investment may be made before the expiration of the 60-day period if the Board notifies the investor in writing of its intention not to disapprove the investment. (2) The Board may extend the 60-day period for an additional 30 days if the Board determines that the investor has not furnished all necessary information or that any material information furnished is substantially inaccurate. The Board may disapprove an investment if the necessary information is provided within a time insufficient to allow the [[Page 355]] Board reasonably to consider the information received. (3) Within three days of a decision to disapprove an investment, the Board shall notify the investor in writing and state the reasons for the disapproval. (e) Time period for investment. An investment in an export trading company that has not been disapproved shall be made within one year from the date of the notice not to disapprove, unless the time period is extended by the Board or by the appropriate Federal Reserve Bank. Subpart D_International Lending Supervision Source: 49 FR 5592, Feb. 13, 1984, unless otherwise noted. Sec. 211.41 Authority, purpose, and scope. (a) Authority. This subpart is issued by the Board of Governors of the Federal Reserve System (Board) under the authority of the International Lending Supervision Act of 1983 (Pub. L. 98-181, title IX, 97 Stat. 1153) (International Lending Supervision Act); the Federal Reserve Act (12 U.S.C. 221 et seq.) (FRA), and the Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841 et seq.) (BHC Act). (b) Purpose and scope. This subpart is issued in furtherance of the purposes of the International Lending Supervision Act. It applies to State banks that are members of the Federal Reserve System (State member banks); corporations organized under section 25A of the FRA (12 U.S.C. 611 through 631) (Edge Corporations); corporations operating subject to an agreement with the Board under section 25 of the FRA (12 U.S.C. 601 through 604a) (Agreement Corporations); and bank holding companies (as defined in section 2 of the BHC Act (12 U.S.C. 1841(a)) but not including a bank holding company that is a foreign banking organization as defined in Sec. 211.21(o). [Reg. K, 68 FR 1159, Jan. 9, 2003] Sec. 211.42 Definitions. For the purposes of this subpart: (a) Administrative cost means those costs which are specifically identified with negotiating, processing and consummating the loan. These costs include, but are not necessarily limited to: legal fees; costs of preparing and processing loan documents; and an allocable portion of salaries and related benefits of employees engaged in the international lending function. No portion of supervisory and administrative expenses or other indirect expenses such as occupancy and other similar overhead costs shall be included. (b) Banking institution means a State member bank; bank holding company; Edge Corporation and Agreement Corporation engaged in banking. Banking institution does not include a foreign banking organization as defined in Sec. 211.21(o). (c) Federal banking agencies means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. (d) International assets means those assets required to be included in banking institutions' Country Exposure Report forms (FFIEC No. 009). (e) International loan means a loan as defined in the instructions to the Report of Condition and Income for the respective banking institution (FFIEC Nos. 031 and 041) and made to a foreign government, or to an individual, a corporation, or other entity not a citizen of, resident in, or organized or incorporated in the United States. (f) Restructured international loan means a loan that meets the following criteria: (1) The borrower is unable to service the existing loan according to its terms and is a resident of a foreign country in which there is a generalized inability of public and private sector obligors to meet their external debt obligations on a timely basis because of a lack of, or restraints on the availability of, needed foreign exchange in the country; and (2) The terms of the existing loan are amended to reduce stated interest or extend the schedule of payments; or (3) A new loan is made to, or for the benefit of, the borrower, enabling the borrower to service or refinance the existing debt. (g) Transfer risk means the possibility that an asset cannot be serviced in the currency of payment because of a lack of, or restraints on the availability of, [[Page 356]] needed foreign exchange in the country of the obligor. [Reg. K, 68 FR 1159, Jan. 9, 2003] Sec. 211.43 Allocated transfer risk reserve. (a) Establishment of Allocated Transfer Risk Reserve. A banking institution shall establish an allocated transfer risk reserve (ATRR) for specified international assets when required by the Board in accordance with this section. (b) Procedures and standards--(1) Joint agency determination. At least annually, the Federal banking agencies shall determine jointly, based on the standards set forth in paragraph (b)(2) of this section, the following: (i) Which international assets subject to transfer risk warrant establishment of an ATRR; (ii) The amount of the ATRR for the specified assets; and (iii) Whether an ATRR established for specified assets may be reduced. (2) Standards for requiring ATRR--(i) Evaluation of assets. The Federal banking agencies shall apply the following criteria in determining whether an ATRR is required for particular international assets: (A) Whether the quality of a banking institution's assets has been impaired by a protracted inability of public or private obligors in a foreign country to make payments on their external indebtedness as indicated by such factors, among others, as whether: (1) Such obligors have failed to make full interest payments on external indebtedness; or (2) Such obligors have failed to comply with the terms of any restructured indebtedness; or (3) A foreign country has failed to comply with any International Monetary Fund or other suitable adjustment program; or (B) Whether no definite prospects exist for the orderly restoration of debt service. (ii) Determination of amount of ATRR. (A) In determining the amount of the ATRR, the Federal banking agencies shall consider: (1) The length of time the quality of the asset has been impaired; (2) Recent actions taken to restore debt service capability; (3) Prospects for restored asset quality; and (4) Such other factors as the Federal banking agencies may consider relevant to the quality of the asset. (B) The initial year's provision for the ATRR shall be ten percent of the principal amount of each specified international asset, or such greater or lesser percentage determined by the Federal banking agencies. Additional provision, if any, for the ATRR in subsequent years shall be fifteen percent of the principal amount of each specified international asset, or such greater or lesser percentage determined by the Federal banking agencies. (3) Board notification. Based on the joint agency determinations under paragraph (b)(1) of this section, the Board shall notify each banking institution holding assets subject to an ATRR: (i) Of the amount of the ATRR to be established by the institution for specified international assets; and (ii) That an ATRR established for specified assets may be reduced. (c) Accounting treatment of ATRR--(1) Charge to current income. A banking institution shall establish an ATRR by a charge to current income and the amounts so charged shall not be included in the banking institution's capital or surplus. (2) Separate accounting. A banking institution shall account for an ATRR separately from the Allowance for Loan and Lease Losses, and shall deduct the ATRR from ``gross loans and leases'' to arrive at ``net loans and leases.'' The ATRR must be established for each asset subject to the ATRR in the percentage amount specified. (3) Consolidation. A banking institution shall establish an ATRR, as required, on a consolidated basis. For banks, consolidation should be in accordance with the procedures and tests of significance set forth in the instructions for preparation of Consolidated Reports of Condition and Income (FFIEC 031 and 041). For bank holding companies, the consolidation shall be in accordance with the principles set forth in the ``Instructions to Consolidated Financial Statements for Bank Holding Companies'' (Form F.R. Y-9C). Edge and Agreement corporations engaged [[Page 357]] in banking shall report in accordance with instructions for preparation of the Report of Condition for Edge and Agreement Corporations (Form F.R. 2886b). (4) Alternative accounting treatment. A banking institution is not required to establish an ATRR if it writes down in the period in which the ATRR is required, or has written down in prior periods, the value of the specified international assets in the requisite amount for each such asset. For purposes of this paragraph, international assets may be written down by a charge to the Allowance for Loan and Lease Losses or the allowance for credit losses, as applicable, to the extent permitted under U.S. generally accepted accounting principles, or a reduction in the principal amount of the asset by application of interest payments or other collections on the asset. However, the Allowance for Loan and Lease Losses or allowance for credit losses, as applicable, must be replenished in such amount necessary to restore it to a level which adequately provides for the estimated losses inherent in the banking institution's loan portfolio. (5) Reduction of ATRR. A banking institution may reduce an ATRR when notified by the Board or, at any time, by writing down such amount of the international asset for which the ATRR was established. [Reg. K, 68 FR 1159, Jan. 9, 2003, as amended at 84 FR 4241, Feb. 14, 2019] Sec. 211.44 Reporting and disclosure of international assets. (a) Requirements. (1) Pursuant to section 907(a) of the International Lending Supervision Act of 1983 (Title IX, Pub. L. 98-181, 97 Stat. 1153) (ILSA), a banking institution shall submit to the Board, at least quarterly, information regarding the amounts and composition of its holdings of international assets. (2) Pursuant to section 907(b) of ILSA, a banking institution shall submit to the Board information regarding concentrations in its holdings of international assets that are material in relation to total assets and to capital of the institution, such information to be made publicly available by the Board on request. (b) Procedures. The format, content and reporting and filing dates of the reports required under paragraph (a) of this section shall be determined jointly by the Federal banking agencies. The requirements to be prescribed by the Federal banking agencies may include changes to existing reporting forms (such as the Country Exposure Report, form FFIEC No. 009) or such other requirements as the Federal banking agencies deem appropriate. The Federal banking agencies also may determine to exempt from the requirements of paragraph (a) of this section banking institutions that, in the Federal banking agencies' judgment, have de minimis holdings of international assets. (c) Reservation of authority. Nothing contained in this rule shall preclude the Board from requiring from a banking institution such additional or more frequent information on the institution's holding of international assets as the Board may consider necessary. [Reg. K, 68 FR 1159, Jan. 9, 2003] Sec. 211.45 Accounting for fees on international loans. (a) Restrictions on fees for restructured international loans. No banking institution shall charge, in connection with the restructuring of an international loan, any fee exceeding the administrative cost of the restructuring unless it amortizes the amount of the fee exceeding the administrative cost over the effective life of the loan. (b) Accounting treatment. Subject to paragraph (a) of this section, banking institutions shall account for fees on international loans in accordance with generally accepted accounting principles. [Reg. K, 68 FR 1159, Jan. 9, 2003] Interpretations Sec. 211.601 Status of certain offices for purposes of the International Banking Act restrictions on interstate banking operations. The Board has considered the question of whether a foreign bank's California office that may accept deposits from certain foreign sources (e.g., a United States citizen residing abroad) is a branch or an agency for the purposes of the grandfather provisions of [[Page 358]] section 5 of the International Banking Act of 1978 (12 U.S.C. 3103(b)). The question has arisen as a result of the definitions in the International Banking Act of branch and agency, and the limited deposit- taking capabilities of certain California offices of foreign banks. The International Banking Act defines agency as ``any office * * * at which deposits may not be accepted from citizens or residents of the United States,'' and defines branch as ``any office * * * of a foreign bank * * * at which deposits are received'' (12 U.S.C. 3101(1) and (3)). Offices of foreign banks in California prior to the International Banking Act were generally prohibited from accepting deposits by the requirement of State law that such offices obtain Federal deposit insurance (Cal. Fin. Code 1756); until the passage of the International Banking Act an office of a foreign bank could not obtain such insurance. California law, however, permits offices of foreign banks, with the approval of the Banking Department, to accept deposits from any person that resides, is domiciled, and maintains its principal place of business in a foreign country (Cal. Fin. Code 1756.2). Thus, under a literal reading of the definitions of branch and agency contained in the International Banking Act, a foreign bank's California office that accepts deposits from certain foreign sources (e.g., a U.S. citizen residing abroad), is a branch rather than an agency. Section 5 of the International Banking Act establishes certain limitations on the expansion of the domestic deposit-taking capabilities of a foreign bank outside its home State. It also grandfathers offices established or applied for prior to July 27, 1978, and permits a foreign bank to select its home State from among the States in which it operated branches and agencies on the grandfather date. If a foreign bank's office that was established or applied for prior to June 27, 1978, is a branch as defined in the International Banking Act, then it is grandfathered as a branch. Accordingly, a foreign bank could designate a State other than California as its home State and subsequently convert its California office to a full domestic deposit-taking facility by obtaining Federal deposit insurance. If, however, the office is determined to be an agency, then it is grandfathered as such and the foreign bank may not expand its deposit-taking capabilities in California without declaring California its home State. In the Board's view, it would be inconsistent with the purposes and the legislative history of the International Banking Act to enable a foreign bank to expand its domestic interstate deposit-taking capabilities by grandfathering these California offices as branches because of their ability to receive certain foreign source deposits. The Board also notes that such deposits are of the same general type that may be received by an Edge Corporation and, hence in accordance with section 5(a) of the International Banking Act, by branches established and operated outside a foreign bank's home State. It would be inconsistent with the structure of the interstate banking provisions of the International Banking Act to grandfather as full deposit-taking offices those facilities whose activities have been determined by Congress to be appropriate for a foreign bank's out-of-home State branches. Accordingly, the Board, in administering the interstate banking provisions of the IBA, regards as agencies those offices of foreign banks that do not accept domestic deposits but that may accept deposits from any person that resides, is domiciled, and maintains its principal place of business in a foreign country. [45 FR 67309, Oct. 10, 1980] Sec. 211.602 Investments by United States Banking Organizations in foreign companies that transact business in the United States. Section 25(a) of the Federal Reserve Act (12 U.S.C. 611, the ``Edge Act'') provides for the establishment of corporations to engage in international or foreign banking or other international or foreign financial operations (``Edge Corporations''). Congress has declared that Edge Corporations are to serve the purpose of stimulating the provision of international banking and financing services throughout the United States and are to have powers sufficiently broad to enable them to compete effectively with foreign-owned institutions [[Page 359]] in the United States and abroad. The Board was directed by the International Banking Act of 1978 (12 U.S.C. 3101) to revise its regulations governing Edge Corporations in order to accomplish these and other objectives and was further directed to modify or eliminate any interpretations that impede the attainment of these purposes. One of the powers of Edge Corporations is that of investing in foreign companies. Under the relevant statutes, however, an Edge Corporation is prohibited from investing in foreign companies that engage in the general business of buying or selling goods, wares, merchandise or commodities in the United States. In addition, an Edge Corporation may not invest in foreign companies that transact any business in the United States that is not, in the Board's judgment, ``incidental'' to its international or foreign business. The latter limitation also applies to investments by bank holding companies (12 U.S.C. 1843(c)(13)) and member banks (12 U.S.C. 601). The Board has been asked to determine whether an Edge Corporation's minority investment (involving less than 25 percent of the voting shares) in a foreign company would continue to be permissible after the foreign company establishes or acquires a United States subsidiary that engages in domestic activities that are closely related to banking. The Board has also been asked to determine whether an Edge Corporation's minority investment in a foreign bank would continue to be permissible after the foreign bank establishes a branch in the United States that engages in domestic banking activities. In the latter case, the branch would be located outside the State in which the Edge Corporation and its parent bank are located. In the past the Board, in exercising its discretionary authority to determine those activities that are permissible in the United States, has followed the policy that an Edge Corporation could not hold even a minority interest in a foreign company that engaged, directly or indirectly, in any purely domestic business in the United States. The United States activities considered permissible were those internationally related activities that Edge Corporations may engage in directly. If this policy were applied to the subject requests, the Edge Corporations would be required to divest their interests in the foreign companies notwithstanding the fact that, in each case, the Edge Corporation, as a minority investor, did not control the decision to undertake activities in the United States, and that even after the United States activities are undertaken the business of the foreign company will remain predominantly outside the United States. International banking and finance have undergone considerable growth and change in recent years. It is increasingly common, for example, for United States institutions to have direct or indirect offices in foreign countries and to engage in activities at those offices that are domestically as well as internationally oriented. In this climate, United States banking organizations would be placed at a competitive disadvantage if their minority investments in foreign companies were limited to those companies that do no domestic business in the United States. Moreover, continued adherence to the existing policy would be contrary to the declaration in the International Banking Act of 1978 that Edge Corporations' powers are to be sufficiently broad to enable them to compete effectively in the United States and abroad. Furthermore, where the activities to be conducted in the United States by the foreign company are banking or closely related to banking, it does not appear that any regulatory or supervisory purpose would be served by prohibiting a minority investment in the foreign firm by a United States banking organization. In view of these considerations, the Board has reviewed its policy relating to the activities that may be engaged in the United States by foreign companies (including foreign banks) in which Edge Corporations, member banks, and bank holding companies invest. As a result of that review, the Board has determined that it would be appropriate to interpret sections 25 and 25(a)of the Federal Reserve Act (12 U.S.C. 601, 611) and section 4(c)(13) of the Bank Holding Company Act (12 U.S.C. 1843(c)(13)) generally to allow United States banking organizations, with the prior consent [[Page 360]] of the Board, to acquire and hold investments in foreign companies that do business in the United States subject to the following conditions: (1) The foreign company is engaged predominantly in business outside the United States or in internationally related activities in the United States;* --------------------------------------------------------------------------- *This condition would ordinarily not be met where a foreign company merely maintains a majority of its business in international activities. Each case will be scrutinized to ensure that the activities in the United States do not alter substantially the international orientation of the foreign company's business. --------------------------------------------------------------------------- (2) The direct or indirect activities of the foreign company in the United States are either banking or closely related to banking; and (3) The United States banking organization does not own 25 percent or more of the voting stock of, or otherwise control, the foreign company. In considering whether to grant its consent for such investments, the Board would also review the proposals to ensure that they are consistent with the purposes of the Bank Holding Company Act and the Federal Reserve Act. [46 FR 8437, Jan. 27, 1981] Sec. 211.603 Commodity swap transactions. For text of interpretation relating to this subject, see Sec. 208.128 of this chapter. [56 FR 63408, Dec. 4, 1991] Sec. 211.604 Data processing activities. (a) Introduction. As a result of a recent proposal by a bank holding company to engage in data processing activities abroad, the Board has considered the scope of permissible data processing activities under Regulation K (12 CFR part 211). This question has arisen as a result of the fact that Sec. 211.5(d)(10) of Regulation K does not specifically indicate the scope of data processing as a permissible activity abroad. (b) Scope of data processing activities. (1) Prior to 1979, the Board authorized specific banking organizations to engage in data processing activities abroad with the expectation that such activity would be primarily related to financial activities. When Regulation K was issued in 1979, data processing was included as a permissible activity abroad. Although the regulation did not provide specific guidance on the scope of this authority, the Board has considered such authority to be coextensive with the authority granted in specific cases prior to the issuance of Regulation K, which relied on the fact that most of the activity would relate to financial data. Regulation K does not address related activities such as the manufacture of hardware or the provision of software or related or incidental services. (2) In 1979, when the activity was included in Regulation K for the first time, the data processing authority in Regulation K was somewhat broader than that permissible in the United States under Regulation Y (12 CFR part 225) at that time, as the Regulation K authority permitted limited non-financial data processing. In 1979, Regulation Y authorized only financial data processing activities for third parties, with very limited exceptions. By 1997, however, the scope of data processing activities under Regulation Y was expanded such that bank holding companies are permitted to derive up to 30 percent of their data processing revenues from processing data that is not financial, banking, or economic. Moreover, in other respects, the Regulation Y provision is broader than the data processing provision in Regulation K. (3) In light of the fact that the permissible scope of data processing activities under Regulation Y is now equal to, and in some respects, broader than the activity originally authorized under Regulation K, the Board believes that Sec. 211.5(d)(10) should be read to encompass all of the activities permissible under Sec. 225.28(b)(14) of Regulation Y. In addition, the limitations of that section would also apply to Sec. 211.5(d)(10). (c) Applications. If a U.S. banking organization wishes to engage abroad in data processing or data transmission activities beyond those described in Regulation Y, it must apply for the Board's prior consent under Sec. 211.5(d)(20) of Regulation K. In addition, if any investor has commenced [[Page 361]] activities beyond those permitted under Sec. 225.28(b)(14) of Regulation Y in reliance on Regulation K, it should consult with staff of the Board to determine whether such activities have been properly authorized under Regulation K. [Reg. K, 64 FR 58781, Nov. 1, 1999] Sec. 211.605 Permissible underwriting activities of foreign banks. (a) Introduction. A number of foreign banks that are subject to the Bank Holding Company Act (``BHC Act'') have participated as co-managers in the underwriting of securities to be distributed in the United States despite the fact that the foreign banks in question do not have authority to engage in underwriting activity in the United States under either the Gramm-Leach-Bliley Act (``GLB Act'') or section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)). This interpretation clarifies the scope of existing restrictions on underwriting by such foreign banks with respect to securities that are distributed in the United States. (b) Underwriting transactions engaged in by foreign banks. (1) In the transactions in question, a foreign bank typically becomes a member of the underwriting syndicate for securities that are registered and intended to be distributed in the United States. The lead underwriter, usually a registered U.S. broker-dealer not affiliated with the foreign bank, agrees to be responsible for distributing the securities being underwritten. The underwriting obligation is assumed by a foreign office or affiliate of the foreign bank. (2) The foreign banks have used their U.S. offices or affiliates to act as liaison with the U.S. issuer and the lead underwriter in the United States, to prepare documentation and to provide other services in connection with the underwriting. In some cases, the U.S. offices or affiliates that assisted the foreign bank with the underwriting receive a substantial portion of the revenue generated by the foreign bank's participation in the underwriting. In other cases, the U.S. offices receive ``credit'' from the head office of the foreign bank for their assistance in generating profits arising from the underwriting. (3) By assuming the underwriting risk and booking the underwriting fees in their foreign offices or affiliates, the foreign banks are able to take advantage of an exemption under U.S. securities laws; a foreign underwriter is not required to register in the United States if the underwriter either does not distribute any of the securities in the United States or distributes them only through a registered broker- dealer. (c) Permissible scope of underwriting activities. (1) A foreign bank that is subject to the BHC Act may engage in underwriting activities in the United States only if it has been authorized under section 4 of the Act. The foreign banks in question have argued that they are not engaged in underwriting activity in the United States because the underwriting activity takes place only outside the United States where the transaction is booked. The foreign banks refer to Regulation K, which defines ``engaged in business'' or ``engaged in activities'' to mean conducting an activity through an office or subsidiary in the United States. Because the underwriting is not booked in a U.S. office or subsidiary, the banks assert that the activity cannot be considered conducted in the United States. (2) The Board believes that the position taken by the foreign banks is not supported by the Board's regulations or policies. Section 225.124 of the Board's Regulation Y (12 CFR 225.124(d)) states that a foreign bank will not be considered to be engaged in the activity of underwriting in the United States if the shares to be underwritten are distributed outside the United States. In the transactions in question, all of the securities to be underwritten by the foreign banks are distributed in the United States. (3) Regulation K (12 CFR part 211) was amended in 1985 to provide clarification that a foreign bank may not own or control voting shares of a foreign company that directly underwrites, sells or distributes securities in the United States (emphasis added). 12 CFR 211.23(f)(5)(ii). In proposing this latter provision, the Board clarified that no part of the prohibited underwriting process may take place in the United States and that the prohibition [[Page 362]] on the activity does not depend on the activity being conducted through an office or subsidiary in the United States. Moreover, in the transactions in question, there was significant participation by U.S. offices and affiliates of the foreign banks in the underwriting process. In some transactions, the foreign office at which the transactions were booked did not have any documentation on the particular transactions; all documentation was maintained in the United States office. In all cases, the U.S. offices or affiliates provided virtually all technical support for participation in the underwriting process and benefitted from profits generated by the activity. (4) The fact that some technological and regulatory constraints on the delivery of cross-border services into the United States have been eliminated since the Regulation K definition of ``engaged in business'' was adopted in 1979 creates greater scope for banking organizations to deal with customers outside the U.S. bank regulatory framework. The definition in Regulation K, however, does not authorize foreign banking organizations to evade regulatory restrictions on securities activities in the United States by directly underwriting securities to be distributed in the United States or by using U.S. offices and affiliates to facilitate the prohibited activity. In the GLB Act, Congress established a framework within which both domestic and foreign banking organizations may underwrite and deal in securities in the United States. The GLB Act requires that banking organizations meet certain financial and managerial requirements in order to be able to engage in these activities in the United States. The Board believes the practices described above undermine this legislative framework and constitute an evasion of the requirements of the GLB Act and the Board's Regulation K. Foreign banking organizations that wish to conduct securities underwriting activity in the United States have long had the option of obtaining section 20 authority and now have the option of obtaining financial holding company status. (d) Conclusion. The Board finds that the underwriting of securities to be distributed in the United States is an activity conducted in the United States, regardless of the location at which the underwriting risk is assumed and the underwriting fees are booked. Consequently, any banking organization that wishes to engage in such activity must either be a financial holding company under the GLB Act or have authority to engage in underwriting activity under section 4(c)(8) of the BHC Act (so-called ``section 20 authority''). Revenue generated by underwriting bank-ineligible securities in such transactions should be attributed to the section 20 company for those foreign banks that operate under section 20 authority. [Reg. K, 68 FR 7899, Feb. 19, 2003] PART 212_MANAGEMENT OFFICIAL INTERLOCKS--Table of Contents Sec. 212.1 Authority, purpose, and scope. 212.2 Definitions. 212.3 Prohibitions. 212.4 Interlocking relationships permitted by statute. 212.5 Small market share exemption. 212.6 General exemption. 212.7 Change in circumstances. 212.8 Enforcement. 212.9 Effect of Interlocks Act on Clayton Act. Authority: 12 U.S.C. 3201-3208; 15 U.S.C. 19. Source: 61 FR 40302, Aug. 2, 1996, unless otherwise noted. Sec. 212.1 Authority, purpose, and scope. (a) Authority. This part is issued under the provisions of the Depository Institution Management Interlocks Act (Interlocks Act) (12 U.S.C. 3201 et seq.), as amended. (b) Purpose. The purpose of the Interlocks Act and this part is to foster competition by generally prohibiting a management official from serving two nonaffiliated depository organizations in situations where the management interlock likely would have an anticompetitive effect. (c) Scope. This part applies to management officials of state member banks, bank holding companies, and their affiliates. [[Page 363]] Sec. 212.2 Definitions. For purposes of this part, the following definitions apply: (a) Affiliate. (1) The term affiliate has the meaning given in section 202 of the Interlocks Act (12 U.S.C. 3201). For purposes of that section 202, shares held by an individual include shares held by members of his or her immediate family. ``Immediate family'' means spouse, mother, father, child, grandchild, sister, brother, or any of their spouses, whether or not any of their shares are held in trust. (2) For purposes of section 202(3)(B) of the Interlocks Act (12 U.S.C. 3201(3)(B)), an affiliate relationship based on common ownership does not exist if the Board determines, after giving the affected persons the opportunity to respond, that the asserted affiliation was established in order to avoid the prohibitions of the Interlocks Act and does not represent a true commonality of interest between the depository organizations. In making this determination, the Board considers, among other things, whether a person, including members of his or her immediate family, whose shares are necessary to constitute the group owns a nominal percentage of the shares of one of the organizations and the percentage is substantially disproportionate to that person's ownership of shares in the other organization. (b) Area median income means: (1) The median family income for the metropolitan statistical area (MSA), if a depository organization is located in an MSA; or (2) The statewide nonmetropolitan median family income, if a depository organization is located outside an MSA. (c) Community means a city, town, or village, and contiguous and adjacent cities, towns, or villages. (d) Contiguous or adjacent cities, towns, or villages means cities, towns, or villages whose borders touch each other or whose borders are within 10 road miles of each other at their closest points. The property line of an office located in an unincorporated city, town, or village is the boundary line of that city, town, or village for the purpose of this definition. (e) Depository holding company means a bank holding company or a savings and loan holding company (as more fully defined in section 202 of the Interlocks Act (12 U.S.C. 3201)) having its principal office located in the United States. (f) Depository institution means a commercial bank (including a private bank), a savings bank, a trust company, a savings and loan association, a building and loan association, a homestead association, a cooperative bank, an industrial bank, or a credit union, chartered under the laws of the United States and having a principal office located in the United States. Additionally, a United States office, including a branch or agency, of a foreign commercial bank is a depository institution. (g) Depository institution affiliate means a depository institution that is an affiliate of a depository organization. (h) Depository organization means a depository institution or a depository holding company. (i) Low- and moderate-income areas means census tracts (or, if an area is not in a census tract, block numbering areas delineated by the United States Bureau of the Census) where the median family income is less than 100 percent of the area median income. (j) Management official. (1) The term management official means: (i) A director; (ii) An advisory or honorary director of a depository institution with total assets of $100 million or more; (iii) A senior executive officer as that term is defined in 12 CFR 225.71(c); (iv) A branch manager; (v) A trustee of a depository organization under the control of trustees; and (vi) Any person who has a representative or nominee, as defined in paragraph (n) of this section, serving in any of the capacities in this paragraph (j)(1). (2) The term management official does not include: (i) A person whose management functions relate exclusively to the business of retail merchandising or manufacturing; [[Page 364]] (ii) A person whose management functions relate principally to a foreign commercial bank's business outside the United States; or (iii) A person described in the provisos of section 202(4) of the Interlocks Act (referring to an officer of a State-chartered savings bank, cooperative bank, or trust company that neither makes real estate mortgage loans nor accepts savings). (k) Office means a principal or branch office of a depository institution located in the United States. Office does not include a representative office of a foreign commercial bank, an electronic terminal, a loan production office, or any office of a depository holding company. (l) Person means a natural person, corporation, or other business entity. (m) Relevant metropolitan statistical area (RMSA) means an MSA, a primary MSA, or a consolidated MSA that is not comprised of designated Primary MSAs to the extent that these terms are defined and applied by the Office of Management and Budget. (n) Representative or nominee means a natural person who serves as a management official and has an obligation to act on behalf of another person with respect to management responsibilities. The Board will find that a person has an obligation to act on behalf of another person only if the first person has an agreement, express or implied, to act on behalf of the second person with respect to management responsibilities. The Board will determine, after giving the affected persons an opportunity to respond, whether a person is a representative or nominee. (o) Total assets. (1) The term total assets means assets measured on a consolidated basis and reported in the most recent fiscal year-end Consolidated Report of Condition and Income. (2) The term total assets does not include: (i) Assets of a diversified savings and loan holding company as defined by section 10(a)(1)(F) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)(1)(F)) other than the assets of its depository institution affiliate; (ii) Assets of a bank holding company that is exempt from the prohibitions of section 4 of the Bank Holding Company Act of 1956 pursuant to an order issued under section 4(d) of that Act (12 U.S.C. 1843(d)) other than the assets of its depository institution affiliate; or (iii) Assets of offices of a foreign commercial bank other than the assets of its United States branch or agency. (3)(i) Notwithstanding paragraph (o)(1) of this section, and except as provided in paragraph (o)(3)(ii) of this section, from December 2, 2020, through December 31, 2021, the term total assets, with respect to a depository organization, means the lesser of assets of the depository organization reported on a consolidated basis as of December 31, 2019, and assets reported as of the end of the depository organization's most recent fiscal year on a consolidated basis as of December 31, 2020. (ii) The relief provided under paragraph (o)(3)(i) of this section does not apply to a depository organization if the Board determines that permitting the depository organization to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the depository organization. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the depository organization since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the depository organization has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the depository organization. In making a determination pursuant to this paragraph (o)(3)(ii), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (p) United States means the United States of America, any State or territory of the United States of America, the District of Columbia, Puerto Rico, Guam, American Samoa, and the Virgin Islands. [61 FR 40302, Aug. 2, 1996, as amended at 64 FR 51679, Sept. 24, 1999; Reg. L, 72 FR 1276, Jan. 11, 2007; 85 FR 77361, Dec. 2, 2020] [[Page 365]] Sec. 212.3 Prohibitions. (a) Community. A management official of a depository organization may not serve at the same time as a management official of an unaffiliated depository organization if the depository organizations in question (or a depository institution affiliate thereof) have offices in the same community. (b) RMSA. A management official of a depository organization may not serve at the same time as a management official of an unaffiliated depository organization if the depository organizations in question (or a depository institution affiliate thereof) have offices in the same RMSA and, in the case of depository institutions, each depository organization has total assets of $50 million or more. (c) Major assets. A management official of a depository organization with total assets exceeding $10 billion (or any affiliate of such an organization) may not serve at the same time as a management official of an unaffiliated depository organization with total assets exceeding $10 billion (or any affiliate of such an organization), regardless of the location of the two depository organizations. The Board will adjust these thresholds, as necessary, based on the year-to-year change in the average of the Consumer Price Index for the Urban Wage Earners and Clerical Workers, not seasonally adjusted, with rounding to the nearest $100 million. The Board will announce the revised thresholds by publishing a final rule without notice and comment in the Federal Register. [61 FR 40302, Aug. 2, 1996, as amended at 64 FR 51679, Sept. 24, 1999; Reg. L, 72 FR 1276, Jan. 11, 2007; 84 FR 54471, Oct. 10, 2019] Sec. 212.4 Interlocking relationships permitted by statute. The prohibitions of Sec. 212.3 do not apply in the case of any one or more of the following organizations or to a subsidiary thereof: (a) A depository organization that has been placed formally in liquidation, or which is in the hands of a receiver, conservator, or other official exercising a similar function; (b) A corporation operating under section 25 or section 25A of the Federal Reserve Act (12 U.S.C. 601 et seq. and 12 U.S.C. 611 et seq., respectively) (Edge Corporations and Agreement Corporations); (c) A credit union being served by a management official of another credit union; (d) A depository organization that does not do business within the United States except as an incident to its activities outside the United States; (e) A State-chartered savings and loan guaranty corporation; (f) A Federal Home Loan Bank or any other bank organized solely to serve depository institutions (a bankers' bank) or solely for the purpose of providing securities clearing services and services related thereto for depository institutions and securities companies; (g) A depository organization that is closed or is in danger of closing as determined by the appropriate Federal depository institution's regulatory agency and is acquired by another depository organization. This exemption lasts for five years, beginning on the date the depository organization is acquired; and (h)(1) A diversified savings and loan holding company (as defined in section 10(a)(1)(F) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)(1)(F)) with respect to the service of a director of such company who also is a director of an unaffiliated depository organization if: (i) Both the diversified savings and loan holding company and the unaffiliated depository organization notify their appropriate Federal depository institutions regulatory agency at least 60 days before the dual service is proposed to begin; and (ii) The appropriate regulatory agency does not disapprove the dual service before the end of the 60-day period. (2) The Board may disapprove a notice of proposed service if it finds that: (i) The service cannot be structured or limited so as to preclude an anticompetitive effect in financial services in any part of the United States; (ii) The service would lead to substantial conflicts of interest or unsafe or unsound practices; or (iii) The notificant failed to furnish all the information required by the Board. [[Page 366]] (3) The Board may require that any interlock permitted under this paragraph (h) be terminated if a change in circumstances occurs with respect to one of the interlocked depository organizations that would have provided a basis for disapproval of the interlock during the notice period. Sec. 212.5 Small market share exemption. (a) Exemption. A management interlock that is prohibited by Sec. 212.3 is permissible, if: (1) The interlock is not prohibited by Sec. 212.3(c); and (2) The depository organizations (and their depository institution affiliates) hold, in the aggregate, no more than 20 percent of the deposits in each RMSA or community in which both depository organizations (or their depository institution affiliates) have offices. The amount of deposits shall be determined by reference to the most recent annual Summary of Deposits published by the FDIC for the RMSA or community. (b) Confirmation and records. Each depository organization must maintain records sufficient to support its determination of eligibility for the exemption under paragraph (a) of this section, and must reconfirm that determination on an annual basis. [64 FR 51679, Sept. 24, 1999] Sec. 212.6 General exemption. (a) Exemption. The Board may, by agency order, exempt an interlock from the prohibitions in Sec. 212.3, if the Board finds that the interlock would not result in a monopoly or substantial lessening of competition, and would not present safety and soundness concerns. (b) Presumptions. In reviewing an application for an exemption under this section, the Board will apply a rebuttable presumption that an interlock will not result in a monopoly or substantial lessening of competition if the depository organization seeking to add a management official: (1) Primarily serves low- and moderate-income areas; (2) Is controlled or managed by persons who are members of a minority group, or women; (3) Is a depository institution that has been chartered for less than two years; or (4) Is deemed to be in ``troubled condition'' as defined in 12 CFR 225.71. (c) Duration. Unless a shorter expiration period is provided in the Board approval, an exemption permitted by paragraph (a) of this section may continue so long as it does not result in a monopoly or substantial lessening of competition, or is unsafe or unsound. If the Board grants an interlock exemption in reliance upon a presumption under paragraph (b) of this section, the interlock may continue for three years, unless otherwise provided by the Board in writing. [64 FR 51679, Sept. 24, 1999] Sec. 212.7 Change in circumstances. (a) Termination. A management official shall terminate his or her service or apply for an exemption if a change in circumstances causes the service to become prohibited. A change in circumstances may include an increase in asset size of an organization, a change in the delineation of the RMSA or community, the establishment of an office, an increase in the aggregate deposits of the depository organization, or an acquisition, merger, consolidation, or reorganization of the ownership structure of a depository organization that causes a previously permissible interlock to become prohibited. (b) Transition period. A management official described in paragraph (a) of this section may continue to serve the state member bank or bank holding company involved in the interlock for 15 months following the date of the change in circumstances. The Board may shorten this period under appropriate circumstances. [61 FR 40302, Aug. 2, 1996, as amended at 64 FR 51679, Sept. 24, 1999] Sec. 212.8 Enforcement. Except as provided in this section, the Board administers and enforces the Interlocks Act with respect to state member banks, bank holding companies, and affiliates of either, and may refer any case of a prohibited interlocking relationship involving these entities to the Attorney General of the [[Page 367]] United States to enforce compliance with the Interlocks Act and this part. If an affiliate of a state member bank or a bank holding company is subject to the primary regulation of another Federal depository organization supervisory agency, then the Board does not administer and enforce the Interlocks Act with respect to that affiliate. Sec. 212.9 Effect of Interlocks Act on Clayton Act. The Board regards the provisions of the first three paragraphs of section 8 of the Clayton Act (15 U.S.C. 19) to have been supplanted by the revised and more comprehensive prohibitions on management official interlocks between depository organizations in the Interlocks Act. PART 213_CONSUMER LEASING (REGULATION M)--Table of Contents Sec. 213.1 Authority, scope, purpose, and enforcement. 213.2 Definitions. 213.3 General disclosure requirements. 213.4 Content of disclosures. 213.5 Renegotiations, extensions, and assumptions. 213.6 [Reserved] 213.7 Advertising. 213.8 Record retention. 213.9 Relation to state laws. Appendix A to Part 213--Model Forms Appendix B to Part 213--Federal Enforcement Agencies Appendix C to Part 213--Issuance of Staff Interpretations Supplement I to Part 213--Official Staff Commentary to Regulation M Authority: 15 U.S.C. 1604 and 1667f; Pub. L. No. 111-203 section 1100E, 124 Stat. 1376. Source: Reg. M, 61 FR 52258, Oct. 7, 1996, unless otherwise noted. Sec. 213.1 Authority, scope, purpose, and enforcement. (a) Authority. The regulation in this part, known as Regulation M, is issued by the Board of Governors of the Federal Reserve System to implement the consumer leasing provisions of the Truth in Lending Act, which is title I of the Consumer Credit Protection Act, as amended (15 U.S.C. 1601 et seq.). Information collection requirements contained in this regulation have been approved by the Office of Management and Budget under the provisions of 44 U.S.C. 3501 et seq. and have been assigned OMB control number 7100-0202. (b) Scope and purpose. This part applies to all persons that are lessors of personal property under consumer leases as those terms are defined in Sec. 213.2(e)(1) and (h). The purpose of this part is: (1) To ensure that lessees of personal property receive meaningful disclosures that enable them to compare lease terms with other leases and, where appropriate, with credit transactions; (2) To limit the amount of balloon payments in consumer lease transactions; and (3) To provide for the accurate disclosure of lease terms in advertising. (c) Enforcement and liability. Section 108 of the act contains the administrative enforcement provisions. Sections 112, 130, 131, and 185 of the act contain the liability provisions for failing to comply with the requirements of the act and this part. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15367, Apr. 1, 1997] Sec. 213.2 Definitions. For the purposes of this part the following definitions apply: (a) Act means the Truth in Lending Act (15 U.S.C. 1601 et seq.) and the Consumer Leasing Act is chapter 5 of the Truth in Lending Act. (b) Advertisement means a commercial message in any medium that directly or indirectly promotes a consumer lease transaction. (c) Board refers to the Board of Governors of the Federal Reserve System. (d) Closed-end lease means a consumer lease other than an open-end lease as defined in this section. (e)(1) Consumer lease means a contract in the form of a bailment or lease for the use of personal property by a natural person primarily for personal, family, or household purposes, for a period exceeding four months and for a total contractual obligation not exceeding the applicable threshold amount, whether or not the lessee has the option to purchase or otherwise become the owner of the property at the expiration of the lease. The threshold [[Page 368]] amount is adjusted annually to reflect increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as applicable. See the official staff commentary to this paragraph (e) for the threshold amount applicable to a specific consumer lease. Unless the context indicates otherwise, in this part ``lease'' means ``consumer lease.'' (2) The term does not include a lease that meets the definition of a credit sale in Regulation Z (12 CFR 226.2(a)). It also does not include a lease for agricultural, business, or commercial purposes or a lease made to an organization. (3) This part does not apply to a lease transaction of personal property which is incident to the lease of real property and which provides that: (i) The lessee has no liability for the value of the personal property at the end of the lease term except for abnormal wear and tear; and (ii) The lessee has no option to purchase the leased property. (f) Gross capitalized cost means the amount agreed upon by the lessor and the lessee as the value of the leased property and any items that are capitalized or amortized during the lease term, including but not limited to taxes, insurance, service agreements, and any outstanding prior credit or lease balance. Capitalized cost reduction means the total amount of any rebate, cash payment, net trade-in allowance, and noncash credit that reduces the gross capitalized cost. The adjusted capitalized cost equals the gross capitalized cost less the capitalized cost reduction, and is the amount used by the lessor in calculating the base periodic payment. (g) Lessee means a natural person who enters into or is offered a consumer lease. (h) Lessor means a person who regularly leases, offers to lease, or arranges for the lease of personal property under a consumer lease. A person who has leased, offered, or arranged to lease personal property more than five times in the preceding calendar year or more than five times in the current calendar year is subject to the act and this part. (i) Open-end lease means a consumer lease in which the lessee's liability at the end of the lease term is based on the difference between the residual value of the leased property and its realized value. (j) Organization means a corporation, trust, estate, partnership, cooperative, association, or government entity or instrumentality. (k) Person means a natural person or an organization. (l) Personal property means any property that is not real property under the law of the state where the property is located at the time it is offered or made available for lease. (m) Realized value means: (1) The price received by the lessor for the leased property at disposition; (2) The highest offer for disposition of the leased property; or (3) The fair market value of the leased property at the end of the lease term. (n) Residual value means the value of the leased property at the end of the lease term, as estimated or assigned at consummation by the lessor, used in calculating the base periodic payment. (o) Security interest and security mean any interest in property that secures the payment or performance of an obligation. (p) State means any state, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession of the United States. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15367, Apr. 1, 1997; 76 FR 18353, Apr. 4, 2011] Sec. 213.3 General disclosure requirements. (a) General requirements. A lessor shall make the disclosures required by Sec. 213.4, as applicable. The disclosures shall be made clearly and conspicuously in writing in a form the consumer may keep, in accordance with this section. The disclosures required by this part may be provided to the lessee in electronic form, subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. Sec. 7001 et seq.). For an advertisement accessed by the consumer in electronic form, the disclosures required by Sec. 213.7 may be provided to the consumer in electronic form in the advertisement, without regard to the consumer [[Page 369]] consent or other provisions of the E-Sign Act. (1) Form of disclosures. The disclosures required by Sec. 213.4 shall be given to the lessee together in a dated statement that identifies the lessor and the lessee; the disclosures may be made either in a separate statement that identifies the consumer lease transaction or in the contract or other document evidencing the lease. Alternatively, the disclosures required to be segregated from other information under paragraph (a)(2) of this section may be provided in a separate dated statement that identifies the lease, and the other required disclosures may be provided in the lease contract or other document evidencing the lease. In a lease of multiple items, the property description required by Sec. 213.4(a) may be given in a separate statement that is incorporated by reference in the disclosure statement required by this paragraph. (2) Segregation of certain disclosures. The following disclosures shall be segregated from other information and shall contain only directly related information: Sec. Sec. 213.4(b) through (f), (g)(2), (h)(3), (i)(1), (j), and (m)(1). The headings, content, and format for the disclosures referred to in this paragraph (a)(2) shall be provided in a manner substantially similar to the applicable model form in appendix A of this part. (3) Timing of disclosures. A lessor shall provide the disclosures to the lessee prior to the consummation of a consumer lease. (4) Language of disclosures. The disclosures required by Sec. 213.4 may be made in a language other than English provided that they are made available in English upon the lessee's request. (b) Additional information; nonsegregated disclosures. Additional information may be provided with any disclosure not listed in paragraph (a)(2) of this section, but it shall not be stated, used, or placed so as to mislead or confuse the lessee or contradict, obscure, or detract attention from any disclosure required by this part. (c) Multiple lessors or lessees. When a transaction involves more than one lessor, the disclosures required by this part may be made by one lessor on behalf of all the lessors. When a lease involves more than one lessee, the lessor may provide the disclosures to any lessee who is primarily liable on the lease. (d) Use of estimates. If an amount or other item needed to comply with a required disclosure is unknown or unavailable after reasonable efforts have been made to ascertain the information, the lessor may use a reasonable estimate that is based on the best information available to the lessor, is clearly identified as an estimate, and is not used to circumvent or evade any disclosures required by this part. (e) Effect of subsequent occurrence. If a required disclosure becomes inaccurate because of an event occurring after consummation, the inaccuracy is not a violation of this part. (f) Minor variations. A lessor may disregard the effects of the following in making disclosures: (1) That payments must be collected in whole cents; (2) That dates of scheduled payments may be different because a scheduled date is not a business day; (3) That months have different numbers of days; and (4) That February 29 occurs in a leap year. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 66 FR 17328, Mar. 30, 2001; 72 FR 63461, Nov. 9, 2007] Sec. 213.4 Content of disclosures. For any consumer lease subject to this part, the lessor shall disclose the following information, as applicable: (a) Description of property. A brief description of the leased property sufficient to identify the property to the lessee and lessor. (b) Amount due at lease signing or delivery. The total amount to be paid prior to or at consummation or by delivery, if delivery occurs after consummation, using the term ``amount due at lease signing or delivery.'' The lessor shall itemize each component by type and amount, including any refundable security deposit, advance monthly or other periodic payment, and capitalized cost reduction; and in motor-vehicle leases, shall itemize how the amount due will be paid, by type and amount, including any net trade-in allowance, rebates, noncash credits, [[Page 370]] and cash payments in a format substantially similar to the model forms in appendix A of this part. (c) Payment schedule and total amount of periodic payments. The number, amount, and due dates or periods of payments scheduled under the lease, and the total amount of the periodic payments. (d) Other charges. The total amount of other charges payable to the lessor, itemized by type and amount, that are not included in the periodic payments. Such charges include the amount of any liability the lease imposes upon the lessee at the end of the lease term; the potential difference between the residual and realized values referred to in paragraph (k) of this section is excluded. (e) Total of payments. The total of payments, with a description such as ``the amount you will have paid by the end of the lease.'' This amount is the sum of the amount due at lease signing (less any refundable amounts), the total amount of periodic payments (less any portion of the periodic payment paid at lease signing), and other charges under paragraphs (b), (c), and (d) of this section. In an open- end lease, a description such as ``you will owe an additional amount if the actual value of the vehicle is less than the residual value'' shall accompany the disclosure. (f) Payment calculation. In a motor-vehicle lease, a mathematical progression of how the scheduled periodic payment is derived, in a format substantially similar to the applicable model form in appendix A of this part, which shall contain the following: (1) Gross capitalized cost. The gross capitalized cost, including a disclosure of the agreed upon value of the vehicle, a description such as ``the agreed upon value of the vehicle [state the amount] and any items you pay for over the lease term (such as service contracts, insurance, and any outstanding prior credit or lease balance),'' and a statement of the lessee's option to receive a separate written itemization of the gross capitalized cost. If requested by the lessee, the itemization shall be provided before consummation. (2) Capitalized cost reduction. The capitalized cost reduction, with a description such as ``the amount of any net trade-in allowance, rebate, noncash credit, or cash you pay that reduces the gross capitalized cost.'' (3) Adjusted capitalized cost. The adjusted capitalized cost, with a description such as ``the amount used in calculating your base [periodic] payment.'' (4) Residual value. The residual value, with a description such as ``the value of the vehicle at the end of the lease used in calculating your base [periodic] payment.'' (5) Depreciation and any amortized amounts. The depreciation and any amortized amounts, which is the difference between the adjusted capitalized cost and the residual value, with a description such as ``the amount charged for the vehicle's decline in value through normal use and for any other items paid over the lease term.'' (6) Rent charge. The rent charge, with a description such as ``the amount charged in addition to the depreciation and any amortized amounts.'' This amount is the difference between the total of the base periodic payments over the lease term minus the depreciation and any amortized amounts. (7) Total of base periodic payments. The total of base periodic payments with a description such as ``depreciation and any amortized amounts plus the rent charge.'' (8) Lease payments. The lease payments with a description such as ``the number of payments in your lease.'' (9) Base periodic payment. The total of the base periodic payments divided by the number of payment periods in the lease. (10) Itemization of other charges. An itemization of any other charges that are part of the periodic payment. (11) Total periodic payment. The sum of the base periodic payment and any other charges that are part of the periodic payment. (g) Early termination--(1) Conditions and disclosure of charges. A statement of the conditions under which the lessee or lessor may terminate the lease prior to the end of the lease term; and the amount or a description of the method for determining the amount of any penalty or other charge for early termination, which must be reasonable. [[Page 371]] (2) Early-termination notice. In a motor-vehicle lease, a notice substantially similar to the following: ``Early Termination. You may have to pay a substantial charge if you end this lease early. The charge may be up to several thousand dollars. The actual charge will depend on when the lease is terminated. The earlier you end the lease, the greater this charge is likely to be.'' (h) Maintenance responsibilities. The following provisions are required: (1) Statement of responsibilities. A statement specifying whether the lessor or the lessee is responsible for maintaining or servicing the leased property, together with a brief description of the responsibility; (2) Wear and use standard. A statement of the lessor's standards for wear and use (if any), which must be reasonable; and (3) Notice of wear and use standard. In a motor-vehicle lease, a notice regarding wear and use substantially similar to the following: ``Excessive Wear and Use. You may be charged for excessive wear based on our standards for normal use.'' The notice shall also specify the amount or method for determining any charge for excess mileage. (i) Purchase option. A statement of whether or not the lessee has the option to purchase the leased property, and: (1) End of lease term. If at the end of the lease term, the purchase price; and (2) During lease term. If prior to the end of the lease term, the purchase price or the method for determining the price and when the lessee may exercise this option. (j) Statement referencing nonsegregated disclosures. A statement that the lessee should refer to the lease documents for additional information on early termination, purchase options and maintenance responsibilities, warranties, late and default charges, insurance, and any security interests, if applicable. (k) Liability between residual and realized values. A statement of the lessee's liability, if any, at early termination or at the end of the lease term for the difference between the residual value of the leased property and its realized value. (l) Right of appraisal. If the lessee's liability at early termination or at the end of the lease term is based on the realized value of the leased property, a statement that the lessee may obtain, at the lessee's expense, a professional appraisal by an independent third party (agreed to by the lessee and the lessor) of the value that could be realized at sale of the leased property. The appraisal shall be final and binding on the parties. (m) Liability at end of lease term based on residual value. If the lessee is liable at the end of the lease term for the difference between the residual value of the leased property and its realized value: (1) Rent and other charges. The rent and other charges, paid by the lessee and required by the lessor as an incident to the lease transaction, with a description such as ``the total amount of rent and other charges imposed in connection with your lease [state the amount].'' (2) Excess liability. A statement about a rebuttable presumption that, at the end of the lease term, the residual value of the leased property is unreasonable and not in good faith to the extent that the residual value exceeds the realized value by more than three times the base monthly payment (or more than three times the average payment allocable to a monthly period, if the lease calls for periodic payments other than monthly); and that the lessor cannot collect the excess amount unless the lessor brings a successful court action and pays the lessee's reasonable attorney's fees, or unless the excess of the residual value over the realized value is due to unreasonable or excessive wear or use of the leased property (in which case the rebuttable presumption does not apply). (3) Mutually agreeable final adjustment. A statement that the lessee and lessor are permitted, after termination of the lease, to make any mutually agreeable final adjustment regarding excess liability. (n) Fees and taxes. The total dollar amount for all official and license fees, registration, title, or taxes required to be paid in connection with the lease. (o) Insurance. A brief identification of insurance in connection with the lease including: [[Page 372]] (1) Through the lessor. If the insurance is provided by or paid through the lessor, the types and amounts of coverage and the cost to the lessee; or (2) Through a third party. If the lessee must obtain the insurance, the types and amounts of coverage required of the lessee. (p) Warranties or guarantees. A statement identifying all express warranties and guarantees from the manufacturer or lessor with respect to the leased property that apply to the lessee. (q) Penalties and other charges for delinquency. The amount or the method of determining the amount of any penalty or other charge for delinquency, default, or late payments, which must be reasonable. (r) Security interest. A description of any security interest, other than a security deposit disclosed under paragraph (b) of this section, held or to be retained by the lessor; and a clear identification of the property to which the security interest relates. (s) Limitations on rate information. If a lessor provides a percentage rate in an advertisement or in documents evidencing the lease transaction, a notice stating that ``this percentage may not measure the overall cost of financing this lease'' shall accompany the rate disclosure. The lessor shall not use the term ``annual percentage rate,'' ``annual lease rate,'' or any equivalent term. (t) Non-motor vehicle open-end leases. Non-motor vehicle open-end leases remain subject to section 182(10) of the act regarding end of term liability. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15367, Apr. 1, 1997; 63 FR 52109, Sept. 29, 1998] Sec. 213.5 Renegotiations, extensions, and assumptions. (a) Renegotiation. A renegotiation occurs when a consumer lease subject to this part is satisfied and replaced by a new lease undertaken by the same consumer. A renegotiation requires new disclosures, except as provided in paragraph (d) of this section. (b) Extension. An extension is a continuation, agreed to by the lessor and the lessee, of an existing consumer lease beyond the originally scheduled end of the lease term, except when the continuation is the result of a renegotiation. An extension that exceeds six months requires new disclosures, except as provided in paragraph (d) of this section. (c) Assumption. New disclosures are not required when a consumer lease is assumed by another person, whether or not the lessor charges an assumption fee. (d) Exceptions. New disclosures are not required for the following, even if they meet the definition of a renegotiation or an extension: (1) A reduction in the rent charge; (2) The deferment of one or more payments, whether or not a fee is charged; (3) The extension of a lease for not more than six months on a month-to-month basis or otherwise; (4) A substitution of leased property with property that has a substantially equivalent or greater economic value, provided no other lease terms are changed; (5) The addition, deletion, or substitution of leased property in a multiple-item lease, provided the average periodic payment does not change by more than 25 percent; or (6) An agreement resulting from a court proceeding. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15367, Apr. 1, 1997] Sec. 213.6 [Reserved] Sec. 213.7 Advertising. (a) General rule. An advertisement for a consumer lease may state that a specific lease of property at specific amounts or terms is available only if the lessor usually and customarily leases or will lease the property at those amounts or terms. (b) Clear and conspicuous standard. Disclosures required by this section shall be made clearly and conspicuously. (1) Amount due at lease signing or delivery. Except for the statement of a periodic payment, any affirmative or negative reference to a charge that is a part of the disclosure required under paragraph (d)(2)(ii) of this section shall not be more prominent than that disclosure. (2) Advertisement of a lease rate. If a lessor provides a percentage rate in an [[Page 373]] advertisement, the rate shall not be more prominent than any of the disclosures in Sec. 213.4, with the exception of the notice in Sec. 213.4(s) required to accompany the rate; and the lessor shall not use the term ``annual percentage rate,'' ``annual lease rate,'' or equivalent term. (c) Catalogs or other multipage advertisements; electronic advertisements. A catalog or other multipage advertisement , or an electronic advertisement (such as an advertisement appearing on an Internet Web site), that provides a table or schedule of the required disclosures shall be considered a single advertisement if, for lease terms that appear without all the required disclosures, the advertisement refers to the page or pages on which the table or schedule appears. (d) Advertisement of terms that require additional disclosure--(1) Triggering terms. An advertisement that states any of the following items shall contain the disclosures required by paragraph (d)(2) of this section, except as provided in paragraphs (e) and (f) of this section: (i) The amount of any payment; or (ii) A statement of any capitalized cost reduction or other payment (or that no payment is required) prior to or at consummation or by delivery, if delivery occurs after consummation. (2) Additional terms. An advertisement stating any item listed in paragraph (d)(1) of this section shall also state the following items: (i) That the transaction advertised is a lease; (ii) The total amount due prior to or at consummation or by delivery, if delivery occurs after consummation; (iii) The number, amounts, and due dates or periods of scheduled payments under the lease; (iv) A statement of whether or not a security deposit is required; and (v) A statement that an extra charge may be imposed at the end of the lease term where the lessee's liability (if any) is based on the difference between the residual value of the leased property and its realized value at the end of the lease term. (e) Alternative disclosures--merchandise tags. A merchandise tag stating any item listed in paragraph (d)(1) of this section may comply with paragraph (d)(2) of this section by referring to a sign or display prominently posted in the lessor's place of business that contains a table or schedule of the required disclosures. (f) Alternative disclosures--television or radio advertisements--(1) Toll-free number or print advertisement. An advertisement made through television or radio stating any item listed in paragraph (d)(1) of this section complies with paragraph (d)(2) of this section if the advertisement states the items listed in paragraphs (d)(2)(i) through (iii) of this section, and: (i) Lists a toll-free telephone number along with a reference that such number may be used by consumers to obtain the information required by paragraph (d)(2) of this section; or (ii) Directs the consumer to a written advertisement in a publication of general circulation in the community served by the media station, including the name and the date of the publication, with a statement that information required by paragraph (d)(2) of this section is included in the advertisement. The written advertisement shall be published beginning at least three days before and ending at least ten days after the broadcast. (2) Establishment of toll-free number. (i) The toll-free telephone number shall be available for no fewer than ten days, beginning on the date of the broadcast. (ii) The lessor shall provide the information required by paragraph (d)(2) of this section orally, or in writing upon request. [Reg. M, 61 FR 52258, Oct. 7, 1996, as amended at 62 FR 15368, Apr. 1, 1997; 63 FR 52109, Sept. 29, 1998; 72 FR 63461, Nov. 9, 2007] Sec. 213.8 Record retention. A lessor shall retain evidence of compliance with the requirements imposed by this part, other than the advertising requirements under Sec. 213.7, for a period of not less than two years after the date the disclosures are required to be made or an action is required to be taken. [[Page 374]] Sec. 213.9 Relation to state laws. (a) Inconsistent state law. A state law that is inconsistent with the requirements of the act and this part is preempted to the extent of the inconsistency. If a lessor cannot comply with a state law without violating a provision of this part, the state law is inconsistent within the meaning of section 186(a) of the act and is preempted, unless the state law gives greater protection and benefit to the consumer. A state, through an official having primary enforcement or interpretative responsibilities for the state consumer leasing law, may apply to the Board for a preemption determination. (b) Exemptions--(1) Application. A state may apply to the Board for an exemption from the requirements of the act and this part for any class of lease transactions within the state. The Board will grant such an exemption if the Board determines that: (i) The class of leasing transactions is subject to state law requirements substantially similar to the act and this part or that lessees are afforded greater protection under state law; and (ii) There is adequate provision for state enforcement. (2) Enforcement and liability. After an exemption has been granted, the requirements of the applicable state law (except for additional requirements not imposed by federal law) will constitute the requirements of the act and this part. No exemption will extend to the civil liability provisions of sections 130, 131, and 185 of the act. Sec. Appendix A to Part 213--Model Forms A-1 Model Open-End or Finance Vehicle Lease Disclosures A-2 Model Closed-End or Net Vehicle Lease Disclosures A-3 Model Furniture Lease Disclosures [[Page 375]] [GRAPHIC] [TIFF OMITTED] TR29SE98.000 [[Page 376]] [GRAPHIC] [TIFF OMITTED] TR29SE98.001 [[Page 377]] [GRAPHIC] [TIFF OMITTED] TR29SE98.002 [[Page 378]] [GRAPHIC] [TIFF OMITTED] TR29SE98.003 [[Page 379]] [GRAPHIC] [TIFF OMITTED] TR29SE98.004 [[Page 380]] [GRAPHIC] [TIFF OMITTED] TR29SE98.005 [Reg. M, 63 FR 52110, Sept. 29, 1998] Sec. Appendix B to Part 213--Federal Enforcement Agencies The following list indicates which federal agency enforces Regulation M (12 CFR Part 213) for particular classes of business. Any questions concerning compliance by a particular business should be directed to the appropriate enforcement agency. Terms that are not defined in the Federal Deposit Insurance Act (12 U.S.C. 1813(s)) shall have the meaning given to them in the International Banking Act of 1978 (12 U.S.C. 3101). 1. National banks and federal branches and federal agencies of foreign banks District office of the Office of the Comptroller of the Currency for the district in which the institution is located. 2. State member banks, branches and agencies of foreign banks (other than federal branches, federal agencies, and insured state branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act Federal Reserve Bank serving the District in which the institution is located. 3. Nonmember insured banks and insured state branches of foreign banks Federal Deposit Insurance Corporation Regional Director for the region in which the institution is located. 4. Savings institutions insured under the Savings Association Insurance Fund of the FDIC and federally chartered savings banks insured under the Bank Insurance Fund of the FDIC (but not including state-chartered savings banks insured under the Bank Insurance Fund) Office of Thrift Supervision regional director for the region in which the institution is located. 5. Federal credit unions Regional office of the National Credit Union Administration serving the area in which the federal credit union is located. 6. Air carriers Assistant General Counsel for Aviation Enforcement and Proceedings, Department of Transportation, 400 Seventh Street, S.W., Washington, DC 20590 7. Those subject to Packers and Stockyards Act Nearest Packers and Stockyards Administration area supervisor. 8. Federal Land Banks, Federal Land Bank Associations, Federal Intermediate Credit Banks, and Production Credit Associations Farm Credit Administration, 490 L'Enfant Plaza, S.W., Washington, DC 20578 9. All other lessors (lessors operating on a local or regional basis should use the address of the FTC regional office in which they operate) Division of Credit Practices, Bureau of Consumer Protection, Federal Trade Commission, Washington, DC 20580 Sec. Appendix C to Part 213--Issuance of Staff Interpretations Officials in the Board's Division of Consumer and Community Affairs are authorized to issue official staff interpretations of this Regulation M (12 CFR Part 213). These interpretations provide the formal protection afforded under section 130(f) of the act. Except in unusual circumstances, interpretations will not be issued separately but will be incorporated in an official commentary to Regulation M (Supplement I of this part), which will be amended periodically. No staff interpretations will be issued approving lessor's forms, statements, or calculation tools or methods. Sec. Supplement I to Part 213--Official Staff Commentary to Regulation M Introduction 1. Official status. The commentary in Supplement I is the vehicle by which the Division of Consumer and Community Affairs of [[Page 381]] the Federal Reserve Board issues official staff interpretations of Regulation M (12 CFR part 213). Good faith compliance with this commentary affords protection from liability under section 130(f) of the Truth in Lending Act (15 U.S.C. 1640(f)). Section 130(f) protects lessors from civil liability for any act done or omitted in good faith in conformity with any interpretation issued by a duly authorized official or employee of the Federal Reserve System. 2. Procedures for requesting interpretations. Under appendix C of Regulation M, anyone may request an official staff interpretation. Interpretations that are adopted will be incorporated in this commentary following publication in the Federal Register. No official staff interpretations are expected to be issued other than by means of this commentary. 3. Comment designations. Each comment in the commentary is identified by a number and the regulatory section or paragraph that it interprets. The comments are designated with as much specificity as possible according to the particular regulatory provision addressed. For example, some of the comments to Sec. 213.4(f) are further divided by subparagraph, such as comment 4(f)(1)-1 and comment 4(f)(2)-1. In other cases, comments have more general application and are designated, for example, as comment 4(a)-1. This introduction may be cited as comments I-1 through I-4. An appendix may be cited as comment app. A-1. 4. Illustrations. Lists that appear in the commentary may be exhaustive or illustrative; the appropriate construction should be clear from the context. Illustrative lists are introduced by phrases such as ``including,'' ``such as,'' ``to illustrate,'' and ``for example.'' Section 213.1--Authority, Scope, Purpose, and Enforcement 1. Foreign applicability. Regulation M applies to all persons (including branches of foreign banks or leasing companies located in the United States) that offer consumer leases to residents of any state (including foreign nationals) as defined in Sec. 213.2(p). The regulation does not apply to a foreign branch of a U.S. bank or to a leasing company leasing to a U.S. citizen residing or visiting abroad or to a foreign national abroad. Section 213.2--Definitions 2(b) Advertisement 1. Coverage. The term advertisement includes messages inviting, offering, or otherwise generally announcing to prospective customers the availability of consumer leases, whether in visual, oral, print or electronic media. Examples include: i. Messages in newspapers, magazines, leaflets, catalogs, and fliers. ii. Messages on radio, television, and public address systems. iii. Direct mail literature. iv. Printed material on any interior or exterior sign or display, in any window display, in any point-of-transaction literature or price tag that is delivered or made available to a lessee or prospective lessee in any manner whatsoever. v. Telephone solicitations. vi. On-line messages, such as those on the Internet. 2. Exclusions. The term does not apply to the following: i. Direct personal contacts, including follow-up letters, cost estimates for individual lessees, or oral or written communications relating to the negotiation of a specific transaction. ii. Informational material distributed only to businesses. iii. Notices required by federal or state law, if the law mandates that specific information be displayed and only the mandated information is included in the notice. iv. News articles controlled by the news medium. v. Market research or educational materials that do not solicit business. 3. Persons covered. See the commentary to Sec. 213.7(a). 2(d) Closed-End Lease 1. General. In closed-end leases, sometimes referred to as ``walk- away'' leases, the lessee is not responsible for the residual value of the leased property at the end of the lease term. 2(e) Consumer Lease. 1. Primary purposes. A lessor must determine in each case if the leased property will be used primarily for personal, family, or household purposes. If a question exists as to the primary purpose for a lease, the fact that a lessor gives disclosures is not controlling on the question of whether the transaction is covered. The primary purpose of a lease is determined before or at consummation and a lessor need not provide Regulation M disclosures where there is a subsequent change in the primary use. 2. Period of time. To be a consumer lease, the initial term of the lease must be more than four months. Thus, a lease of personal property for four months, three months or on a month-to-month or week-to-week basis (even though the lease actually extends beyond four months) is not a consumer lease and is not subject to the disclosure requirements of the regulation. However, a lease that imposes a penalty for not continuing the lease beyond four months is considered to have a term of more than four months. To illustrate: [[Page 382]] i. A three-month lease extended on a month-to-month basis and terminated after one year is not subject to the regulation. ii. A month-to-month lease with a penalty, such as the forfeiture of a security deposit for terminating before one year, is subject to the regulation. 3. Total contractual obligation. The total contractual obligation is not necessarily the same as the total of payments disclosed under Sec. 213.4(e). The total contractual obligation includes nonrefundable amounts a lessee is contractually obligated to pay to the lessor, but excludes items such as: i. Residual value amounts or purchase-option prices; ii. Amounts collected by the lessor but paid to a third party, such as taxes, licenses, and registration fees. 4. Credit sale. The regulation does not cover a lease that meets the definition of a credit sale in Regulation Z, 12 CFR 226.2(a)(16), which is defined, in part, as a bailment or lease (unless terminable without penalty at any time by the consumer) under which the consumer: i. Agrees to pay as compensation for use a sum substantially equivalent to, or in excess of, the total value of the property and services involved; and ii. Will become (or has the option to become), for no additional consideration or for nominal consideration, the owner of the property upon compliance with the agreement. 5. Agricultural purpose. Agricultural purpose means a purpose related to the production, harvest, exhibition, marketing, transportation, processing, or manufacture of agricultural products by a natural person who cultivates, plants, propagates, or nurtures those agricultural products, including but not limited to the acquisition of personal property and services used primarily in farming. Agricultural products include horticultural, viticultural, and dairy products, livestock, wildlife, poultry, bees, forest products, fish and shellfish, and any products thereof, including processed and manufactured products, and any and all products raised or produced on farms and any processed or manufactured products thereof. 6. Organization or other entity. A consumer lease does not include a lease made to an organization such as a corporation or a government agency or instrumentality. Such a lease is not covered by the regulation even if the leased property is used (by an employee, for example) primarily for personal, family or household purposes, or is guaranteed by or subsequently assigned to a natural person. 7. Leases of personal property incidental to a service. The following leases of personal property are deemed incidental to a service and thus are not subject to the regulation: i. Home entertainment systems requiring the consumer to lease equipment that enables a television to receive the transmitted programming. ii. Security alarm systems requiring the installation of leased equipment intended to monitor unlawful entries into a home and in some cases to provide fire protection. iii. Propane gas service where the consumer must lease a propane tank to receive the service. 8. Safe deposit boxes. The lease of a safe deposit box is not a consumer lease under Sec. 213.2(e). 9. Threshold amount. A consumer lease is exempt from the requirements of this part if the total contractual obligation exceeds the threshold amount in effect at the time of consummation. The threshold amount in effect during a particular time period is the amount stated in comment 2(e)-11 for that period. The threshold amount is adjusted effective January 1 of each year by any annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) that was in effect on the preceding June 1. Comment 2(e)-11 will be amended to provide the threshold amount for the upcoming year after the annual percentage change in the CPI-W that was in effect on June 1 becomes available. Any increase in the threshold amount will be rounded to the nearest $100 increment. For example, if the annual percentage increase in the CPI-W would result in a $950 increase in the threshold amount, the threshold amount will be increased by $1,000. However, if the annual percentage increase in the CPI-W would result in a $949 increase in the threshold amount, the threshold amount will be increased by $900. If a consumer lease is exempt from the requirements of this part because the total contractual obligation exceeds the threshold amount in effect at the time of consummation, the lease remains exempt regardless of a subsequent increase in the threshold amount. 10. No increase in the CPI-W. If the CPI-W in effect on June 1 does not increase from the CPI-W in effect on June 1 of the previous year, the threshold amount effective the following January 1 through December 31 will not change from the previous year. When this occurs, for the years that follow, the threshold is calculated based on the annual percentage change in the CPI-W applied to the dollar amount that would have resulted, after rounding, if decreases and any subsequent increases in the CPI-W had been taken into account. i. Net increases. If the resulting amount calculated, after rounding, is greater than the current threshold, then the threshold effective January 1 the following year will increase accordingly. ii. Net decreases. If the resulting amount calculated, after rounding, is equal to or less than the current threshold, then the threshold effective January 1 the following year [[Page 383]] will not change, but future increases will be calculated based on the amount that would have resulted. 11. Threshold. For purposes of Sec. 213.2(e)(1), the threshold amount in effect during a particular period is the amount stated below for that period. i. Prior to July 21, 2011, the threshold amount is $25,000. ii. From July 21, 2011, through December 31, 2011, the threshold amount is $50,000. iii. From January 1, 2012, through December 31, 2012, the threshold amount is $51,800. iv. From January 1, 2013, through December 31, 2013, the threshold amount is $53,000. v. From January 1, 2014, through December 31, 2014, the threshold amount is $53,500. vi. From January 1, 2015, through December 31, 2015, the threshold amount is $54,600. vii. From January 1, 2016, through December 31, 2016, the threshold amount is $54,600. viii. From January 1, 2017, through December 31, 2017, the threshold amount is $54,600. ix. From January 1, 2018, through December 31, 2018, the threshold amount is $55,800. x. From January 1, 2019, through December 31, 2019, the threshold amount is $57,200. xi. From January 1, 2020, through December 31, 2020, the threshold amount is $58,300. xii. From January 1, 2021, through December 31, 2021, the threshold amount is $58,300. xiii. From January 1, 2022, through December 31, 2022, the threshold amount is $61,000. xiv. From January 1, 2023, through December 31, 2023, the threshold amount is $66,400. xv. From January 1, 2024, through December 31, 2024, the threshold amount is $69,500. 2(g) Lessee 1. Guarantors. Guarantors are not lessees for purposes of the regulation. 2(h) Lessor 1. Arranger of a lease. To ``arrange'' for the lease of personal property means to provide or offer to provide a lease that is or will be extended by another person under a business or other relationship pursuant to which the person arranging the lease (a) receives or will receive a fee, compensation, or other consideration for the service or (b) has knowledge of the lease terms and participates in the preparation of the contract documents required in connection with the lease. To illustrate: i. An automobile dealer who, pursuant to a business relationship, completes the necessary lease agreement before forwarding it for execution to the leasing company (to whom the obligation is payable on its face) is ``arranging'' for the lease. ii. An automobile dealer who, without receiving a fee for the service, refers a customer to a leasing company that will prepare all relevant contract documents is not ``arranging'' for the lease. 2. Consideration. The term ``other consideration'' as used in comment 2(h)-1 refers to an actual payment corresponding to a fee or similar compensation and not to intangible benefits, such as the advantage of increased business, which may flow from the relationship between the parties. 3. Assignees. An assignee may be a lessor for purposes of the regulation in circumstances where the assignee has substantial involvement in the lease transaction. See cf. Ford Motor Credit Co. v. Cenance, 452 U.S. 155 (1981) (held that an assignee was a creditor for purposes of the pre-1980 Truth in Lending Act and Regulation Z because of its substantial involvement in the credit transaction). 4. Multiple lessors. See the commentary to Sec. 213.3(c). 2(j) Organization 1. Coverage. The term ``organization'' includes joint ventures and persons operating under a business name. 2(l) Personal Property 1. Coverage. Whether property is personal property depends on state or other applicable law. For example, a mobile home or houseboat may be considered personal property in one state but real property in another. 2(m) Realized Value 1. General. Realized value refers to either the retail or wholesale value of the leased property at early termination or at the end of the lease term. It is not a required disclosure. Realized value is relevant only to leases in which the lessee's liability at early termination or at the end of the lease term typically is based on the difference between the residual value (or the adjusted lease balance) of the leased property and its realized value. 2. Options. Subject to the contract and to state or other applicable law, the lessor may calculate the realized value in determining the lessee's liability at the end of the lease term or at early termination in one of the three ways stated in Sec. 213.2(m). If the lessor sells the property prior to making the determination about liability, the price received for the property (or the fair market value) is the realized value. If the lessor does not sell the property prior to making that determination, the highest offer or the fair market value is the realized value. 3. Determination of realized value. Disposition charges are not subtracted in determining the realized value but amounts attributable to taxes may be subtracted. 4. Offers. In determining the highest offer for disposition, the lessor may disregard offers that an offeror has withdrawn or is unable or unwilling to perform. [[Page 384]] 5. Lessor's appraisal. See commentary to Sec. 213.4(l). 2(o) Security Interest and Security 1. Disclosable interests. For purposes of disclosure, a security interest is an interest taken by the lessor to secure performance of the lessee's obligation. For example, if a bank that is not a lessor makes a loan to a leasing company and takes assignments of consumer leases generated by that company to secure the loan, the bank's security interest in the lessor's receivables is not a security interest for purposes of this regulation. 2. General coverage. An interest the lessor may have in leased property must be disclosed only if it is considered a security interest under state or other applicable law. The term includes, but is not limited to, security interests under the Uniform Commercial Code; real property mortgages, deeds of trust, and other consensual or confessed liens whether or not recorded; mechanic's, materialman's, artisan's, and other similar liens; vendor's liens in both real and personal property; liens on property arising by operation of law; and any interest in a lease when used to secure payment or performance of an obligation. 3. Insurance exception. The lessor's right to insurance proceeds or unearned insurance premiums is not a security interest for purposes of this regulation. Section 213.3--General Disclosure Requirements 3(a) General Requirements 1. Basis of disclosures. Disclosures must reflect the terms of the legal obligation between the parties. For example: i. In a three-year lease with no penalty for termination after a one-year minimum term, disclosures are based on the full three-year term of the lease. The one-year minimum term is only relevant to the early termination provisions of Sec. Sec. 213.4 (g)(1), (k) and (l). 2. Clear and conspicuous standard. The clear and conspicuous standard requires that disclosures be reasonably understandable. For example, the disclosures must be presented in a way that does not obscure the relationship of the terms to each other; appendix A of this part contains model forms that meet this standard. In addition, although no minimum typesize is required, the disclosures must be legible, whether typewritten, handwritten, or printed by computer. 3. Multipurpose disclosure forms. A lessor may use a multipurpose disclosure form provided the lessor is able to designate the specific disclosures applicable to a given transaction, consistent with the requirement that disclosures be clearly and conspicuously provided. 4. Number of transactions. Lessors have flexibility in handling lease transactions that may be viewed as multiple transactions. For example: i. When a lessor leases two items to the same lessee on the same day, the lessor may disclose the leases as either one or two lease transactions. ii. When a lessor sells insurance or other incidental services in connection with a lease, the lessor may disclose in one of two ways: as a single lease transaction (in which case Regulation M, not Regulation Z, disclosures are required) or as a lease transaction and a credit transaction. iii. When a lessor includes an outstanding lease or credit balance in a lease transaction, the lessor may disclose the outstanding balance as part of a single lease transaction (in which case Regulation M, not Regulation Z, disclosures are required) or as a lease transaction and a credit transaction. 3(a)(1) Form of Disclosures 1. Cross-references. Lessors may include in the nonsegregated disclosures a cross-reference to items in the segregated disclosures rather than repeat those items. A lessor may include in the segregated disclosures numeric or alphabetic designations as cross-references to related information so long as such references do not obscure or detract from the segregated disclosures. 2. Identification of parties. While disclosures must be made clearly and conspicuously, lessors are not required to use the word ``lessor'' and ``lessee'' to identify the parties to the lease transaction. 3. Lessor's address. The lessor must be identified by name; an address (and telephone number) may be provided. 4. Multiple lessors and lessees. In transactions involving multiple lessors and multiple lessees, a single lessor may make all the disclosures to a single lessee as long as the disclosure statement identifies all the lessors and lessees. 5. Lessee's signature. The regulation does not require that the lessee sign the disclosure statement, whether disclosures are separately provided or are part of the lease contract. Nevertheless, to provide evidence that disclosures are given before a lessee becomes obligated on the lease transaction, the lessor may, for example, ask the lessee to sign the disclosure statement or an acknowledgement of receipt, may place disclosures that are included in the lease documents above the lessee's signature, or include instructions alerting a lessee to read the disclosures prior to signing the lease. 3(a)(2) Segregation of Certain Disclosures 1. Location. The segregated disclosures referred to in Sec. 213.3(a)(2) may be provided on a separate document and the other required disclosures may be provided in the lease contract, so long as all disclosures are given at [[Page 385]] the same time. Alternatively, all disclosures may be provided in a separate document or in the lease contract. 2. Additional information among segregated disclosures. The disclosures required to be segregated may contain only the information required or permitted to be included among the segregated disclosures. 3. Substantially similar. See commentary to appendix A of this part. 3(a)(3) Timing of Disclosures 1. Consummation. When a contractual relationship is created between the lessor and the lessee is a matter to be determined under state or other applicable law. 3(b) Additional Information; Nonsegregated Disclosures 1. State law disclosures. A lessor may include in the nonsegregated disclosures any state law disclosures that are not inconsistent with the act and regulation under Sec. 213.9 as long as, in accordance with the standard set forth in Sec. 213.3(b) for additional information, the state law disclosures are not used or placed to mislead or confuse or detract from any disclosure required by the regulation. 3(c) Multiple Lessors or Lessees 1. Multiple lessors. If a single lessor provides disclosures to a lessee on behalf of several lessors, all disclosures for the transaction must be given, even if the lessor making the disclosures would not otherwise have been obligated to make a particular disclosure. 3(d) Use of Estimates 3(d)(1) Standard 1. Time of estimated disclosure. The lessor may, after making a reasonable effort to obtain information, use estimates to make disclosures if necessary information is unknown or unavailable at the time the disclosures are made. 2. Basis of estimates. Estimates must be made on the basis of the best information reasonably available at the time disclosures are made. The ``reasonably available'' standard requires that the lessor, acting in good faith, exercise due diligence in obtaining information. The lessor may rely on the representations of other parties. For example, the lessor might look to the consumer to determine the purpose for which leased property will be used, to insurance companies for the cost of insurance, or to an automobile manufacturer or dealer for the date of delivery. See commentary to Sec. 213.4(n) for estimating official fees and taxes. 3. Residual value of leased property at termination. In an open-end lease where the lessee's liability at the end of the lease term is based on the residual value of the leased property as determined at consummation, the estimate of the residual value must be reasonable and based on the best information reasonably available to the lessor (see Sec. 213.4(m)). A lessor should generally use an accepted trade publication listing estimated current or future market prices for the leased property unless other information or a reasonable belief based on its experience provides the better information. For example: i. An automobile lessor offering a three-year open-end lease assigns a wholesale value to the vehicle at the end of the lease term. The lessor may disclose as an estimate a wholesale value derived from a generally accepted trade publication listing current wholesale values. ii. Same facts as above, except that the lessor discloses an estimated value derived by adjusting the residual value quoted in the trade publication because, in its experience, the trade publication values either understate or overstate the prices actually received in local used-vehicle markets. The lessor may adjust estimated values quoted in trade publications if the lessor reasonably believes based on its experience that the values are understated or overstated. 4. Retail or wholesale value. The lessor may choose either a retail or a wholesale value in estimating the value of leased property at termination of an open-end lease provided the choice is consistent with the lessor's general practice when determining the value of the property at the end of the lease term. The lessor should indicate whether the value disclosed is a retail or wholesale value. 5. Labelling estimates. Generally, only the disclosure for which the exact information is unknown is labelled as an estimate. Nevertheless, when several disclosures are affected because of the unknown information, the lessor has the option of labelling as an estimate every affected disclosure or only the disclosure primarily affected. 3(e) Effect of Subsequent Occurrence 1. Subsequent occurrences. Examples of subsequent occurrences include: i. An agreement between the lessee and lessor to change from a monthly to a weekly payment schedule. ii. An increase in official fees or taxes. iii. An increase in insurance premiums or coverage caused by a change in the law. iv. Late delivery of an automobile caused by a strike. 2. Redisclosure. When a disclosure becomes inaccurate because of a subsequent occurrence, the lessor need not make new disclosures unless new disclosures are required under Sec. 213.5. 3. Lessee's failure to perform. The lessor does not violate the regulation if a previously given disclosure becomes inaccurate when a lessee fails to perform obligations under the [[Page 386]] contract and a lessor takes actions that are necessary and proper in such circumstances to protect its interest. For example, the addition of insurance or a security interest by the lessor because the lessee has not performed obligations contracted for in the lease is not a violation of the regulation. Section 213.4--Content of Disclosures 4(a) Description of Property 1. Placement of description. Although the description of leased property may not be included among the segregated disclosures, a lessor may choose to place the description directly above the segregated disclosures. 4(b) Amount Due at Lease Signing or Delivery 1. Consummation. See commentary to Sec. 213.3(a)(3). 2. Capitalized cost reduction. A capitalized cost reduction is a payment in the nature of a downpayment on the leased property that reduces the amount to be capitalized over the term of the lease. This amount does not include any amounts included in a periodic payment paid at lease signing or delivery. 3. ``Negative'' equity trade-in allowance. If an amount owed on a prior lease or credit balance exceeds the agreed upon value of a trade- in, the difference is not reflected as a negative trade-in allowance under Sec. 213.4(b). The lessor may disclose the trade-in allowance as zero or not applicable, or may leave a blank line. 4. Rebates. Only rebates applied toward an amount due at lease signing or delivery are required to be disclosed under Sec. 213.4(b). 5. Balance sheet approach. In motor-vehicle leases, the total for the column labeled ``total amount due at lease signing or delivery'' must equal the total for the column labeled ``how the amount due at lease signing or delivery will be paid.'' 6. Amounts to be paid in cash. The term cash is intended to include payments by check or other payment methods in addition to currency; however, a lessor may add a line item under the column ``how the amount due at lease signing or delivery will be paid'' for non-currency payments such as credit cards. 4(c) Payment Schedule and Total Amount of Periodic Payments 1. Periodic payments. The phrase ``number, amount, and due dates or periods of payments'' requires the disclosure of all payments that are made at regular or irregular intervals and generally derived from rent, capitalized or amortized amounts such as depreciation, and other amounts that are collected by the lessor at the same interval(s), including, for example, taxes, maintenance, and insurance charges. Other periodic payments may, but need not, be disclosed under Sec. 213.4(c). 4(d) Other charges 1. Coverage. Section 213.4(d) requires the disclosure of charges that are anticipated by the parties incident to the normal operation of the lease agreement. If a lessor is unsure whether a particular fee is an ``other charge,'' the lessor may disclose the fee as such without violating Sec. 213.4(d) or the segregation rule under Sec. 213.3(a)(2). 2. Excluded charges. This section does not require disclosure of charges that are imposed when the lessee terminates early, fails to abide by, or modifies the terms of the existing lease agreement, such as charges for: i. Late payment. ii. Default. iii. Early termination. iv. Deferral of payments. v. Extension of the lease. 3. Third-party fees and charges. Third-party fees or charges collected by the lessor on behalf of third parties, such as taxes, are not disclosed under Sec. 213.4(d). 4. Relationship to other provisions. The other charges mentioned in this paragraph are charges that are not required to be disclosed under some other provision of Sec. 213.4. To illustrate: i. The price of a mechanical breakdown protection (MBP) contract is sometimes disclosed as an ``other charge.'' Nevertheless, the price of MBP is sometimes reflected in the periodic payment disclosure under Sec. 213.4(c) or in states where MBP is regarded as insurance, the cost is be disclosed in accordance with Sec. 213.4(o). 5. Lessee's liabilities at the end of the lease term. Liabilities that the lessor imposes upon the lessee at the end of the scheduled lease term and that must be disclosed under Sec. 213.4(d) include disposition and ``pick-up'' charges. 6. Optional ``disposition'' charges. Disposition and similar charges that are anticipated by the parties as an incident to the normal operation of the lease agreement must be disclosed under Sec. 213.4(d). If, under a lease agreement, a lessee may return leased property to various locations, and the lessor charges a disposition fee depending upon the location chosen, under Sec. 213.4(d), the lessor must disclose the highest amount charged. In such circumstances, the lessor may also include a brief explanation of the fee structure in the segregated disclosure. For example, if no fee or a lower fee is imposed for returning a leased vehicle to the originating dealer as opposed to another location, that fact may be disclosed. By contrast, if the terms of the lease treat the return of the leased property to a location outside the lessor's service area as a default, the fee imposed is not disclosed as an ``other charge,'' although it may be required to be disclosed under Sec. 213.4(q). [[Page 387]] 4(e) Total of payments 1. Open-end lease. The additional statement is required under Sec. 213.4(e) for open-end leases because, with some limitations, a lessee is liable at the end of the lease term for the difference between the residual and realized values of the leased property. 4(f) Payment Calculation 1. Motor-vehicle lease. Whether leased property is a motor vehicle is determined by state or other applicable law. 2. Multiple-items. If a lease transaction involves multiple items of leased property, one of which is not a motor vehicle under state law, at their option, lessors may include all items in the disclosures required under Sec. 213.4(f). See comment 3(a)-4 regarding disclosure of multiple transactions. 4(f)(1) Gross Capitalized Cost 1. Agreed upon value of the vehicle. The agreed upon value of a motor vehicle includes the amount of capitalized items such as charges for vehicle accessories and options, and delivery or destination charges. The lessor may also include taxes and fees for title, licenses, and registration that are capitalized. Charges for service or maintenance contracts, insurance products, guaranteed automobile protection, or an outstanding balance on a prior lease or credit transaction are not included in the agreed upon value. 2. Itemization of the gross capitalized cost. The lessor may choose to provide the itemization of the gross capitalized cost only on request or may provide the itemization as a matter of course. In the latter case, the lessor need not provide a statement of the lessee's option to receive an itemization. The gross capitalized cost must be itemized by type and amount. The lessor may include in the itemization an identification of the items and amounts of some or all of the items contained in the agreed upon value of the vehicle. The itemization must be provided at the same time as the other disclosures required by Sec. 213.4, but it may not be included among the segregated disclosures. 4(f)(7) Total of Base Periodic Payment 1. Accuracy of disclosure. If the periodic payment calculation under Sec. 213.4(f) has been calculated correctly, the amount disclosed under Sec. 213.4(f)(7)--the total of base periodic payments--is correct for disclosure purposes even if that amount differs from the base periodic payment disclosed under Sec. 213.4(f)(9) multiplied by the number of lease payments disclosed under Sec. 213.4(f)(8), when the difference is due to rounding. 4(f)(8) Lease Payment 1. Lease Term. The lease term may be disclosed among the segregated disclosures. 4(g) Early Termination 4(g)(1) Conditions and Disclosure of Charges 1. Reasonableness of charges. See the commentary to Sec. 213.4(q). 2. Description of the method. Section 213.4(g)(1) requires a full description of the method of determining an early termination charge. The lessor should attempt to provide consumers with clear and understandable descriptions of its early termination charges. Descriptions that are full, accurate, and not intended to be misleading will comply with Sec. 213.4(g)(1), even if the descriptions are complex. In providing a full description of an early termination method, a lessor may use the name of a generally accepted method of computing the unamortized cost portion (also known as the ``adjusted lease balance'') of its early termination charges. For example, a lessor may state that the ``constant yield'' method will be utilized in obtaining the adjusted lease balance, but must specify how that figure, and any other term or figure, is used in computing the total early termination charge imposed upon the consumer. Additionally, if a lessor refers to a named method in this manner, the lessor must provide a written explanation of that method if requested by the consumer. The lessor has the option of providing the explanation as a matter of course in the lease documents or on a separate document. 3. Timing of written explanation of a named method. While a lessor may provide an address or telephone number for the consumer to request a written explanation of the named method used to calculate the adjusted leased balance, if at consummation a consumer requests such an explanation, the lessor must provide a written explanation at that time. If a consumer requests an explanation after consummation, the lessor must provide a written explanation within a reasonable time after the request is made. 4. Default. When default is a condition for early termination of a lease, default charges must be disclosed under Sec. 213.4(g)(1). See the commentary to Sec. 213.4(q). 5. Lessee's liability at early termination. When the lessee is liable for the difference between the unamortized cost and the realized value at early termination, the method of determining the amount of the difference must be disclosed under Sec. 213.4(g)(1). 4(h) Maintenance Responsibilities 1. Standards for wear and use. No disclosure is required if a lessor does not set standards or impose charges for wear and use (such as excess mileage). [[Page 388]] 4(i) Purchase Option 1. Mandatory disclosure of no purchase option. Generally the lessor need only make the specific required disclosures that apply to a transaction. In the case of a purchase option disclosure, however, a lessor must disclose affirmatively that the lessee has no option to purchase the leased property if the purchase option is inapplicable. 2. Existence of purchase option. Whether a purchase option exists under the lease is determined by state or other applicable law. The lessee's right to submit a bid to purchase property at termination of the lease is not an option to purchase under Sec. 213.4(i) if the lessor is not required to accept the lessee's bid and the lessee does not receive preferential treatment. 3. Purchase-option fee. A purchase-option fee is disclosed under Sec. 213.4(i), not Sec. 213.4(d). The fee may be separately itemized or disclosed as part of the purchase-option price. 4. Official fees and taxes. Official fees such as those for taxes, licenses, and registration charged in connection with the exercise of a purchase option may be disclosed under Sec. 213.4(i) as part of the purchase-option price (with or without a reference to their inclusion in that price) or may be separately disclosed and itemized by category. Alternatively, a lessor may provide a statement indicating that the purchase-option price does not include fees for tags, taxes, and registration. 5. Purchase-option price. Lessors must disclose the purchase-option price as a sum certain or as a sum certain to be determined at a future date by reference to a readily available independent source. The reference should provide sufficient information so that the lessee will be able to determine the actual price when the option becomes available. Statements of a purchase price as the ``negotiated price'' or the ``fair market value'' do not comply with the requirements of Sec. 213.4(i). 4(j) Statement referencing nonsegregated disclosures 1. Content. A lessor may delete inapplicable items from the disclosure. For example, if a lease contract does not include a security interest, the reference to a security interest may be omitted. 4(l) Right of appraisal 1. Disclosure inapplicable. The lessee does not have the right to an independent appraisal merely because the lessee is liable at the end of the lease term or at early termination for unreasonable wear or use. Thus, the disclosure under Sec. 213.4(l) does not apply. For example: i. The automobile lessor might expect a lessee to return an undented car with four good tires at the end of the lease term. Even though it may hold the lessee liable for the difference between a dented car with bald tires and the value of a car in reasonably good repair, the disclosure under Sec. 213.4(l) is not required. 2. Lessor's appraisal. If the lessor obtains an appraisal of the leased property to determine its realized value, that appraisal does not suffice for purposes of section 183(c) of the act; the lessor must disclose the lessee's right to an independent appraisal under Sec. 213.4(l). 3. Retail or wholesale. In providing the disclosures in Sec. 213.4(l), a lessor must indicate whether the wholesale or retail appraisal value will be used. 4. Time restriction on appraisal. The regulation does not specify a time period in which the lessee must exercise the appraisal right. The lessor may require a lessee to obtain the appraisal within a reasonable time after termination of the lease. 4(m) Liability at end of Lease Term Based on Residual Value 1. Open-end leases. Section 213.4(m) applies only to open-end leases. 2. Lessor's payment of attorney's fees. Section 183(a) of the act requires that the lessor pay the lessee's attorney's fees in all actions under Sec. 213.4(m), whether successful or not. 4(m)(1) Rent and other charges 1. General. This disclosure is intended to represent the cost of financing an open-end lease based on charges and fees that the lessor requires the lessee to pay. Examples of disclosable charges, in addition to the rent charge, include acquisition, disposition, or assignment fees. Charges imposed by a third party whose services are not required by the lessor (such as official fees and voluntary insurance) are not included in the Sec. 213.4(m)(1) disclosure. 4(m)(2) Excess liability 1. Coverage. The disclosure limiting the lessee's liability for the value of the leased property does not apply in the case of early termination. 2. Leases with a minimum term. If a lease has an alternative minimum term, the disclosures governing the liability limitation are not applicable for the minimum term. 3. Charges not subject to rebuttable presumption. The limitation on liability applies only to liability at the end of the lease term that is based on the difference between the residual value of the leased property and its realized value. The regulation does not preclude a lessor from recovering other charges from the lessee at the end of the lease term. Examples of such charges include: i. Disposition charges. ii. Excess mileage charges. iii. Late payment and default charges. [[Page 389]] iv. In simple-interest accounting leases, amount by which the unamortized cost exceeds the residual value because the lessee has not made timely payments. 4(n) Fees and taxes 1. Treatment of certain taxes. Taxes paid in connection with the lease are generally disclosed under Sec. 213.4(n), but there are exceptions. To illustrate: i. Taxes paid by lease signing or delivery are disclosed under Sec. 213.4(b) and Sec. 213.4(n). ii. Taxes that are part of the scheduled payments are reflected in the disclosure under Sec. 213.4(c), (f), and (n). iii. A tax payable by the lessor that is passed on to the consumer and is reflected in the lease documentation must be disclosed under Sec. 213.4(n). A tax payable by the lessor and absorbed as a cost of doing business need not be disclosed. iv. Taxes charged in connection with the exercise of a purchase option are disclosed under Sec. 213.4(i), not Sec. 213.4(n). 2. Estimates. In disclosing the total amount of fees and taxes under Sec. 213.4(n), lessors may need to base the disclosure on estimated tax rates or amounts and are afforded great flexibility in doing so. Where a rate is applied to the future value of leased property, lessors have flexibility in estimating that value, including, but not limited to, using the mathematical average of the agreed upon value and the residual value or published valuation guides; or a lessor could prepare estimates using the agreed upon value and disclose a reasonable estimate of the total fees and taxes. Lessors may include a statement that the actual total of fees and taxes may be higher or lower depending on the tax rates in effect or the value of the leased property at the time a fee or tax is assessed. 4(o) Insurance 1. Coverage. If insurance is obtained through the lessor, information on the type and amount of insurance coverage (whether voluntary or required) as well as the cost, must be disclosed. 2. Lessor's insurance. Insurance purchased by the lessor primarily for its own benefit, and absorbed as a business expense and not separately charged to the lessee, need not be disclosed under Sec. 213.4(o) even if it provides an incidental benefit to the lessee. 3. Mechanical breakdown protection and other products. Whether products purchased in conjunction with a lease, such as mechanical breakdown protection (MBP) or guaranteed automobile protection (GAP), should be treated as insurance is determined by state or other applicable law. In states that do not treat MBP or GAP as insurance, Sec. 213.4(o) disclosures are not required. In such cases the lessor may, however, disclose this information in accordance with the additional information provision in Sec. 213.3(b). For MBP insurance contracts not capped by a dollar amount, lessors may describe coverage by referring to a limitation by mileage or time period, for example, by indicating that the mechanical breakdown contract insures parts of the automobile for up to 100,000 miles. 4(p) Warranties or Guarantees 1. Brief identification. The statement identifying warranties may be brief and need not describe or list all warranties applicable to specific parts such as for air conditioning, radio, or tires in an automobile. For example, manufacturer's warranties may be identified simply by a reference to the standard manufacturer's warranty. If a lessor provides a comprehensive list of warranties that may not all apply, to comply with Sec. 213.4(p) the lessor must indicate which warranties apply or, alternatively, which warranties do not apply. 2. Warranty disclaimers. Although a disclaimer of warranties is not required by the regulation, the lessor may give a disclaimer as additional information in accordance with Sec. 213.3(b). 3. State law. Whether an express warranty or guaranty exists is determined by state or other law. 4(q) Penalties and Other Charges for Delinquency 1. Collection costs. The automatic imposition of collection costs or attorney fees upon default must be disclosed under Sec. 213.4(q). Collection costs or attorney fees that are not imposed automatically, but are contingent upon expenditures in conjunction with a collection proceeding or upon the employment of an attorney to effect collection, need not be disclosed. 2. Charges for early termination. When default is a condition for early termination of a lease, default charges must also be disclosed under Sec. 213.4(g)(1). The Sec. 213.4(q) and (g)(1) disclosures may, but need not, be combined. Examples of combined disclosures are provided in the model lease disclosure forms in appendix A. 3. Simple-interest leases. In a simple-interest accounting lease, the additional rent charge that accrues on the lease balance when a periodic payment is made after the due date does not constitute a penalty or other charge for late payment. Similarly, continued accrual of the rent charge after termination of the lease because the lessee fails to return the leased property does not constitute a default charge. But in either case, if the additional charge accrues at a rate higher than the normal rent charge, the lessor must disclose the amount of or the method of determining the additional charge under Sec. 213.4(q). [[Page 390]] 4. Extension charges. Extension charges that exceed the rent charge in a simple-interest accounting lease or that are added separately are disclosed under Sec. 213.4(q). 5. Reasonableness of charges. Pursuant to section 183(b) of the act, penalties or other charges for delinquency, default, or early termination may be specified in the lease but only in an amount that is reasonable in light of the anticipated or actual harm caused by the delinquency, default, or early termination, the difficulties of proof of loss, and the inconvenience or nonfeasibility of otherwise obtaining an adequate remedy. 4(r) Security Interest 1. Disclosable security interests. See Sec. 213.2(o) and accompanying commentary to determine what security interests must be disclosed. 4(s) Limitations on Rate Information 1. Segregated disclosures. A lease rate may not be included among the segregated disclosures referenced in Sec. 213.3(a)(2). Section 213.5--Renegotiations, Extensions and Assumptions 1. Coverage. Section 213.5 applies only to existing leases that are covered by the regulation. It does not apply to the renegotiation or extension of leases with an initial term of four months or less, because such leases are not covered by the definition of consumer lease in. Sec. 213.2(e). Whether and when a lease is satisfied and replaced by a new lease is determined by state or other applicable law. 5(a) Renegotiations 1. Basis of disclosures. Lessors have flexibility in making disclosures so long as they reflect the legal obligation under the renegotiated lease. For example, assume that a 24-month lease is replaced by a 36-month lease. The initial lease began on January 1, 1998, and was renegotiated and replaced on July 1, 1998, so that the new lease term ends on January 1, 2001. i. If the renegotiated lease covers the 36-month period beginning January 1, 1998, the new disclosures would reflect all payments made by the lessee on the initial lease and all payments on the renegotiated lease. In this example, since the renegotiated lease covers a 36-month period beginning January 1, 1998, the disclosures must reflect payments made since that date. On the model form, the ``total of base periodic payments'' disclosed under Sec. 213.4(f)(7) should reflect periodic payments to be made over the entire 36-month term. Payments received since January 1, 1998, are added as a new line item disclosed as ``total of payments received'' and are subtracted from the ``total of base periodic payments'' in calculating a new item disclosed as the ``total of base periodic payments remaining.'' For example, if 6 monthly payments of $300 were received since January 1, 1998, the disclosure form should include a ``total of base periodic payments'' line from which $1,800 is subtracted to arrive at the ``total of base periodic payments remaining.'' The remainder of the disclosures would not change. ii. If the renegotiated lease covers only the remaining 30 months, from July 1, 1998, to January 1, 2001, the disclosures would reflect only the charges incurred in connection with the renegotiation and the payments for the remaining period. 5(b) Extensions 1. Time of extension disclosures. If a consumer lease is extended for a specified term greater than six months, new disclosures are required at the time the extension is agreed upon. If the lease is extended on a month-to-month basis and the cumulative extensions exceed six months, new disclosures are required at the commencement of the seventh month and at the commencement of each seventh month thereafter for as long as the extensions continue. If a consumer lease is extended for terms of varying durations, one of which will exceed six months beyond the originally scheduled termination date of the lease, new disclosures are required at the commencement of the term that will exceed six months beyond the originally scheduled termination date. 2. Content of disclosures for month-to-month extensions. The disclosures for a lease extended on a month-to-month basis for more than six months should reflect the month-to-month nature of the transaction. 3. Basis of disclosures. The disclosures should be based on the extension period, including any upfront costs paid in connection with the extension. For example, assume that initially a lease ends on March 1, 1999. In January 1999, agreement is reached to extend the lease until October 1, 1999. The disclosure would include any extension fee paid in January and the periodic payments for the seven-month extension period beginning in March. Section 213.6 [Reserved] Section 213.7--Advertising 7(a) General Rule 1. Persons covered. All ``persons'' must comply with the advertising provisions in this section, not just those that meet the definition of a lessor in Sec. 213.2(h). Thus, automobile dealers, merchants, and others who are not themselves lessors must comply with the advertising provisions of the regulation if they advertise consumer lease transactions. Pursuant to section 184(b) of the act, however, owners and personnel of the media in which [[Page 391]] an advertisement appears or through which it is disseminated are not subject to civil liability for violations under section 185(b) of the act. 2. ``Usually and customarily.'' Section 213.7(a) does not prohibit the advertising of a single item or the promotion of a new leasing program, but prohibits the advertising of terms that are not and will not be available. Thus, an advertisement may state terms that will be offered for only a limited period or terms that will become available at a future date. 3. Total contractual obligation of advertised lease. Section 213.7 applies to advertisements for consumer leases, as defined in Sec. 213.2(e). Under Sec. 213.2(e), a consumer lease is exempt from the requirements of this Part if the total contractual obligation exceeds the threshold amount in effect at the time of consummation. See comment 2(e)-9. Accordingly, Sec. 213.7 does not apply to an advertisement for a specific consumer lease if the total contractual obligation for that lease exceeds the threshold amount in effect when the advertisement is made. If a lessor promotes multiple consumer leases in a single advertisement, the entire advertisement must comply with Sec. 213.7 unless all of the advertised leases are exempt under Sec. 213.2(e). For example A. Assume that, in an advertisement, a lessor states that certain terms apply to a consumer lease for a specific automobile. The total contractual obligation of the advertised lease exceeds the threshold amount in effect when the advertisement is made. Although the advertisement does not refer to any other lease, some or all of the advertised terms for the exempt lease also apply to other leases offered by the lessor with total contractual obligations that do not exceed the applicable threshold amount. The advertisement is not required to comply with Sec. 213.7 because it refers only to an exempt lease. B. Assume that, in an advertisement, a lessor states certain terms (such as the amount due at lease signing) that will apply to consumer leases for automobiles of a particular brand. However, the advertisement does not refer to a specific lease. The total contractual obligations of the leases for some of the automobiles will exceed the threshold amount in effect when the advertisement is made, but the total contractual obligations of the leases for other automobiles will not exceed the threshold. The entire advertisement must comply with Sec. 213.7 because it refers to terms for consumer leases that are not exempt. C. Assume that, in a single advertisement, a lessor states that certain terms apply to consumer leases for two different automobiles. The total contractual obligation of the lease for the first automobile exceeds the threshold amount in effect when the advertisement is made, but the total contractual obligation of the lease for the second automobile does not exceed the threshold. The entire advertisement must comply with Sec. 213.7 because it refers to a consumer lease that is not exempt. 7(b) Clear and Conspicuous Standard 1. Standard. The disclosures in an advertisement in any media must be reasonably understandable. For example, very fine print in a television advertisement or detailed and very rapidly stated information in a radio advertisement does not meet the clear and conspicuous standard if consumers cannot see and read or hear, and cannot comprehend, the information required to be disclosed. 7(b)(1) Amount due at Lease Signing or Delivery 1. Itemization not required. Only a total of amounts due at lease signing or delivery is required to be disclosed, not an itemization of its component parts. Such an itemization is provided in any transaction- specific disclosures provided under Sec. 213.4. 2. Prominence rule. Except for a periodic payment, oral or written references to components of the total due at lease signing or delivery (for example, a reference to a capitalized cost reduction, where permitted) may not be more prominent than the disclosure of the total amount due at lease signing or delivery. 7(b)(2) Advertisement of a Lease Rate 1. Location of statement. The notice required to accompany a percentage rate stated in an advertisement must be placed in close proximity to the rate without any other intervening language or symbols. For example, a lessor may not place an asterisk next to the rate and place the notice elsewhere in the advertisement. In addition, with the exception of the notice required by Sec. 213.4(s), the rate cannot be more prominent than any other Sec. 213.4 disclosure stated in the advertisement. 7(c) Catalogs or Other Multi-Page Advertisements; Electronic Advertisements 1. General rule. The multiple-page advertisements referred to in Sec. 213.7(c) are advertisements consisting of a series of numbered pages--for example, a supplement to a newspaper. A mailing comprising several separate flyers or pieces of promotional material in a single envelope is not a single multiple-page advertisement. 2. Cross references. A catalog or other multiple-page advertisement or an electronic advertisement (such as an advertisement appearing on an Internet Web site) is a single advertisement (requiring only one set of lease disclosures) if it contains a table, [[Page 392]] chart, or schedule with the disclosures required under Sec. 213.7(d)(2)(i) through (v). If one of the triggering terms listed in Sec. 213.7(d)(1) appears in a catalog, or in a multiple-page or electronic advertisement, it must clearly direct the consumer to the page or location where the table, chart, or schedule begins. For example, in an electronic advertisement, a term triggering additional disclosures may be accompanied by a link that directly connects the consumer to the additional information. 7(d)(1) Triggering Terms 1. Typical example. When any triggering term appears in a lease advertisement, the additional terms enumerated in Sec. 213.7(d)(2) (i) through (v) must also appear. In a multi-lease advertisement, an example of one or more typical leases with a statement of all the terms applicable to each may be used. The examples must be labeled as such and must reflect representative lease terms that are made available by the lessor to consumers. 7(d)(2) Additional Terms 1. Third-party fees that vary by state or locality. The disclosure of a periodic payment or total amount due at lease signing or delivery may: i. Exclude third-party fees, such as taxes, licenses, and registration fees and disclose that fact; or ii. Provide a periodic payment or total that includes third-party fees based on a particular state or locality as long as that fact and the fact that fees may vary by state or locality are disclosed. 7(e) Alternative Disclosures--Merchandise Tags 1. Multiple-item leases. Multiple-item leases that utilize merchandise tags requiring additional disclosures may use the alternate disclosure rule. 7(f) Alternative Disclosures--Television or Radio Advertisements 7(f)(1) Toll-Free Number or Print Advertisement 1. Publication in general circulation. A reference to a written advertisement appearing in a newspaper circulated nationally, for example, USA Today or the Wall Street Journal, may satisfy the general circulation requirement in Sec. 213.7(f)(1)(ii). 2. Toll-free number, local or collect calls. In complying with the disclosure requirements of Sec. 213.7(f)(1)(i), a lessor must provide a toll-free number for nonlocal calls made from an area code other than the one used in the lessor's dialing area. Alternatively, a lessor may provide any telephone number that allows a consumer to reverse the phone charges when calling for information. 3. Multi-purpose number. When an advertised toll-free number responds with a recording, lease disclosures must be provided early in the sequence to ensure that the consumer receives the required disclosures. For example, in providing several dialing options--such as providing directions to the lessor's place of business--the option allowing the consumer to request lease disclosures should be provided early in the telephone message to ensure that the option to request disclosures is not obscured by other information. 4. Statement accompanying toll free number. Language must accompany a telephone and television number indicating that disclosures are available by calling the toll-free number, such as ``call 1-800-000-0000 for details about costs and terms.'' Section 213.8--Record Retention 1. Manner of retaining evidence. A lessor must retain evidence of having performed required actions and of having made required disclosures. Such records may be retained in paper form, on microfilm, microfiche, or computer, or by any other method designed to reproduce records accurately. The lessor need retain only enough information to reconstruct the required disclosures or other records. Section 213.9--Relation to State Laws 1. Exemptions granted. Effective October 1, 1982, the Board granted the following exemptions from portions of the Consumer Leasing Act: i. Maine. Lease transactions subject to the Maine Consumer Credit Code and its implementing regulations are exempt from chapters 2, 4, and 5 of the federal act. (The exemption does not apply to transactions in which a federally chartered institution is a lessor.) ii. Oklahoma. Lease transactions subject to the Oklahoma Consumer Credit Code are exempt from chapters 2 and 5 of the federal act. (The exemption does not apply to sections 132 through 135 of the federal act, nor does it apply to transactions in which a federally chartered institution is a lessor.) Appendix A--Model Forms 1. Permissible changes. Although use of the model forms is not required, lessors using them properly will be deemed to be in compliance with the regulation. Generally, lessors may make certain changes in the format or content of the forms and may delete any disclosures that are inapplicable to a transaction without losing the act's protection from liability. For example, the model form based on monthly periodic payments may be modified for single-payment lease [[Page 393]] transactions or for quarterly or other regular or irregular periodic payments. The model form may also be modified to reflect that a transaction is an extension. The content, format, and headings for the segregated disclosures must be substantially similar to those contained in the model forms; therefore, any changes should be minimal. The changes to the model forms should not be so extensive as to affect the substance and the clarity of the disclosures. 2. Examples of acceptable changes. i. Using the first person, instead of the second person, in referring to the lessee. ii. Using ``lessee,'' ``lessor,'' or names instead of pronouns. iii. Rearranging the sequence of the nonsegregated disclosures. iv. Incorporating certain state ``plain English'' requirements. v. Deleting or blocking out inapplicable disclosures, filling in ``N/A'' (not applicable) or ``0,'' crossing out, leaving blanks, checking a box for applicable items, or circling applicable items (this should facilitate use of multipurpose standard forms). vi. Adding language or symbols to indicate estimates. vii. Adding numeric or alphabetic designations. viii. Rearranging the disclosures into vertical columns, except for Sec. 213.4 (b) through (e) disclosures. ix. Using icons and other graphics. 3. Model closed-end or net vehicle lease disclosure. Model A-2 is designed for a closed-end or net vehicle lease. Under the ``Early Termination and Default'' provision a reference to the lessee's right to an independent appraisal of the leased vehicle under Sec. 213.4(l) is included for those closed-end leases in which the lessee's liability at early termination is based on the vehicle's realized value. 4. Model furniture lease disclosures. Model A-3 is a closed-end lease disclosure statement designed for a typical furniture lease. It does not include a disclosure of the appraisal right at early termination required under Sec. 213.4(l) because few closed-end furniture leases base the lessee's liability at early termination on the realized value of the leased property. The disclosure should be added if it is applicable. [Reg. M, 62 FR 16058, Apr. 4, 1997] Editorial Note: For Federal Register citations affecting supplement I to part 213, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. PART 214_RELATIONS WITH FOREIGN BANKS AND BANKERS (REGULATION N) --Table of Contents Regulations Sec. 214.1 Scope of part. 214.2 Information to be furnished to the Board. 214.3 Conferences and negotiations with foreign banks, bankers, or States. 214.4 Agreements with foreign banks, bankers, or States, and participation in foreign accounts. 214.5 Accounts with foreign banks. 214.6 Amendments. Authority: 12 U.S.C. 248, 348a, 358, 632. Source: Reg. N, 8 FR 17290, Dec. 24, 1943, unless otherwise noted. Regulations Sec. 214.1 Scope of part. Pursuant to the authority conferred upon it by section 14 of the Federal Reserve Act, as amended (40 Stat. 235, 48 Stat. 181; 12 U.S.C. 358, 348a), and by other provisions of law, the Board of Governors of the Federal Reserve System prescribes the following regulations governing relationships and transactions between Federal Reserve Banks and foreign banks or bankers or groups of foreign banks, or bankers, or a foreign State as defined in section 25(b) of the Federal Reserve Act (55 Stat. 131; 12 U.S.C. 632). Sec. 214.2 Information to be furnished to the Board. In order that the Board of Governors of the Federal Reserve System may perform its statutory duty of exercising special supervision over all relationships and transactions of any kind entered into by any Federal Reserve Bank with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State, each Federal Reserve Bank shall promptly submit to the Board of Governors of the Federal Reserve System in writing full information concerning all existing relationships and transactions of any kind heretofore entered into by such Federal Reserve Bank with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State and [[Page 394]] copies of all written agreements between it and any foreign bank or banker or any group of foreign banks or bankers or any foreign State which are now in force, unless copies have heretofore been furnished to the Board. Each Federal Reserve Bank shall also keep the Board of Governors of the Federal Reserve System promptly and fully advised of all transactions with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State, except transactions of a routine character. Sec. 214.3 Conferences and negotiations with foreign banks, bankers, or States. (a) Without first obtaining the permission of the Board of Governors of the Federal Reserve System, no officer or other representative of any Federal Reserve Bank shall conduct negotiations of any kind with the officers or representatives of any foreign bank or banker or any group of foreign banks or bankers of any foreign State, except communications in the ordinary course of business in connection with transactions pursuant to agreements previously approved by the Board of Governors of the Federal Reserve System. Any request for the Board's permission to conduct any such negotiations shall be submitted in writing and shall include a full statement of the occasion and objects of the proposed negotiations. (b) The Board of Governors of the Federal Reserve System reserves the right, in its discretion, to be represented by such representatives as it may designate in any negotiations between any officer or other representative of any Federal Reserve Bank and any officers or representatives of any foreign bank or banker or any group of foreign banks or bankers or any foreign State; and the Board shall be given reasonable notice in advance of the time and place of any such negotiations; and may itself designate the time and place of any such negotiations. (c) A full report of all such conferences or negotiations and all understandings or agreements arrived at or transactions agreed upon and all other material facts appertaining to such conferences or negotiations shall be filed with the Board of Governors of the Federal Reserve System in writing by a duly authorized officer of each Federal Reserve Bank which shall have participated in such conferences or negotiations, including copies of all correspondence appertaining thereto. Sec. 214.4 Agreements with foreign banks, bankers, or States, and participation in foreign accounts. (a) No Federal Reserve Bank shall enter into any agreement, contract, or understanding with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State without first obtaining the permission of the Board of Governors of the Federal Reserve System. (b) When any Federal Reserve Bank, with the approval of the Board of Governors of the Federal Reserve System, has opened an account for any foreign bank or banker or group of foreign banks or bankers or for any foreign State, or has entered into any agreement, contract, or understanding with reference to opening or maintaining such an account, or with reference to any other matter or matters, any other Federal Reserve Bank may participate in such account, or in such agreement, contract, or understanding, and in operations and transactions performed therein or pursuant thereto, with the approval of the Board of Governors of the Federal Reserve System. Sec. 214.5 Accounts with foreign banks. (a) Any Federal Reserve Bank, with the consent of the Board, may open and maintain accounts payable in foreign currencies with such foreign banks as may be designated by the Board. (b) Notwithstanding other provisions of this part, any officer or other representatives of the Federal Reserve Bank which maintains an account with a foreign bank may conduct such negotiations and enter into such agreements, contracts, or understandings with such foreign bank as may be authorized or directed by the Federal Open Market Committee in order to effectuate the conduct of open market transactions of the Federal Reserve Banks incident to the opening, maintenance, operation, increase, reduction, or discontinuance of such account; and, [[Page 395]] in any such case, such negotiations, agreements, contracts, or understandings shall be subject to such authorizations, directions, regulations, and limitations as may be prescribed by, or pursuant to authority of, the Federal Open Market Committee. (c) Any Federal Reserve Bank may, when authorized or directed so to do by, or under the authority of, the Federal Open Market Committee, carry on or conduct, through any other Federal Reserve Bank which maintains an account with a foreign bank, any open market transactions authorized by section 14 of the Federal Reserve Act. Transactions authorized by section 14 which are not open market transactions may be carried on or conducted through such other Federal Reserve Bank only with the approval of the Board. (d) Notwithstanding other provisions of this part, reports with respect to any accounts opened and maintained, and negotiations, agreements, contracts, and understandings entered into, pursuant to this section shall be made to the Board at least quarterly, and more frequently if so requested by the Board, by a duly authorized officer of the Federal Reserve Bank involved. [Reg. N, 27 FR 1719, Feb. 22, 1962] Sec. 214.6 Amendments. The Board of Governors of the Federal Reserve System reserves the right, in its discretion, to alter, amend or repeal these regulations and to prescribe such additional regulations, conditions, and limitations as it may deem desirable, respecting relationships and transactions of any kind entered into by any Federal Reserve Bank with any foreign bank or banker or with any group of foreign banks or bankers or with any foreign State. [Reg. N, 8 FR 17290, Dec. 24, 1943. Redesignated at 27 FR 1719, Feb. 22, 1962] PART 215_LOANS TO EXECUTIVE OFFICERS, DIRECTORS, AND PRINCIPAL SHAREHOLDERS OF MEMBER BANKS (REGULATION O)--Table of Contents Sec. 215.1 Authority, purpose, and scope. 215.2 Definitions. 215.3 Extension of credit. 215.4 General prohibitions. 215.5 Additional restrictions on loans to executive officers of member banks. 215.6 Prohibition on knowingly receiving unauthorized extension of credit. 215.7 Extensions of credit outstanding on March 10, 1979. 215.8 Records of member banks. 215.9 Disclosure of credit from member banks to executive officers and principal shareholders. 215.10 Reporting requirement for credit secured by certain bank stock. 215.11 Civil penalties. 215.12 Application to savings associations. Appendix to Part 215--Section 5200 of the Revised Statutes Total Loans and Extensions of Credit Authority: 12 U.S.C. 248(a), 375a(10), 375b(9) and (10), 1468, 1817(k), 5412; and Pub. L. 102-242, 105 Stat. 2236 (1991) (12 U.S.C. 1811 note). Source: Reg. O, 59 FR 8837, Feb. 24, 1994, unless otherwise noted. Sec. 215.1 Authority, purpose, and scope. (a) Authority. This part is issued pursuant to sections 11(a), 22(g), and 22(h) of the Federal Reserve Act (12 U.S.C. 248(a), 375a, and 375b), 12 U.S.C. 1817(k), section 306 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (Pub. L. 102-242, 105 Stat. 2236 (1991)), section 11 of the Home Owners' Loan Act (12 U.S.C. 1468), and section 312(b)(2)(A) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5412). (b) Purpose and scope. (1) This part governs any extension of credit made by a member bank to an executive officer, director, or principal shareholder of the member bank, of any company of which the member bank is a subsidiary, and of any other subsidiary of that company. (2) This part also applies to any extension of credit made by a member bank to a company controlled by such a person, or to a political or campaign [[Page 396]] committee that benefits or is controlled by such a person. (3) This part also implements the reporting requirements of 12 U.S.C. 1817(k) concerning extensions of credit by a member bank to its executive officers or principal shareholders (or to the related interests of such persons). (4) Extensions of credit made to an executive officer, director, or principal shareholder of a bank (or to a related interest of such person) by a correspondent bank also are subject to restrictions set forth in 12 U.S.C. 1972(2). [Reg. O, 71 FR 71474, Dec. 11, 2006, as amended at 76 FR 56530, Sept. 13, 2011] Sec. 215.2 Definitions. For purposes of this part, the following definitions apply unless otherwise specified: (a) Affiliate means any company of which a member bank is a subsidiary or any other subsidiary of that company. (b) Company means any corporation, partnership, trust (business or otherwise), association, joint venture, pool syndicate, sole proprietorship, unincorporated organization, or any other form of business entity not specifically listed herein. However, the term does not include: (1) An insured depository institution (as defined in 12 U.S.C. 1813); or (2) A corporation the majority of the shares of which are owned by the United States or by any State. (c)(1) Control of a company or bank means that a person directly or indirectly, or acting through or in concert with one or more persons: (i) Owns, controls, or has the power to vote 25 percent or more of any class of voting securities of the company or bank; (ii) Controls in any manner the election of a majority of the directors of the company or bank; or (iii) Has the power to exercise a controlling influence over the management or policies of the company or bank. (2) A person is presumed to have control, including the power to exercise a controlling influence over the management or policies, of a company or bank if: (i) The person is: (A) An executive officer or director of the company or bank; and (B) Directly or indirectly owns, controls, or has the power to vote more than 10 percent of any class of voting securities of the company or bank; or (ii)(A) The person directly or indirectly owns, controls, or has the power to vote more than 10 percent of any class of voting securities of the company or bank; and (B) No other person owns, controls, or has the power to vote a greater percentage of that class of voting securities. (3) An individual is not considered to have control, including the power to exercise a controlling influence over the management or policies, of a company or bank solely by virtue of the individual's position as an officer or director of the company or bank. (4) A person may rebut a presumption established by paragraph (c)(2) of this section by submitting to the appropriate Federal banking agency (as defined in 12 U.S.C. 1813(q)) written materials that, in the agency's judgment, demonstrate an absence of control. (d)(1) Director of a company or bank means any director of the company or bank, whether or not receiving compensation. An advisory director is not considered a director if the advisory director: (i) Is not elected by the shareholders of the company or bank; (ii) Is not authorized to vote on matters before the board of directors; and (iii) Provides solely general policy advice to the board of directors. (2) Extensions of credit to a director of an affiliate of a bank are not subject to Sec. Sec. 215.4, 215.6, and 215.8 if-- (i) The director of the affiliate is excluded, by resolution of the board of directors or by the bylaws of the bank, from participation in major policymaking functions of the bank, and the director does not actually participate in such functions; (ii) The affiliate does not control the bank; (iii) As determined annually, the assets of the affiliate do not constitute more than 10 percent of the consolidated assets of the company that-- (A) Controls the bank; and [[Page 397]] (B) Is not controlled by any other company; and (iv) The director of the affiliate is not otherwise subject to Sec. Sec. 215.4, 215.6, and 215.8. (3) For purposes of paragraph (d)(2)(i) of this section, a resolution of the board of directors or a corporate bylaw may-- (i) Include the director (by name or by title) in a list of persons excluded from participation in such functions; or (ii) Not include the director in a list of persons authorized (by name or by title) to participate in such functions. (e)(1) Executive officer of a company or bank means a person who participates or has authority to participate (other than in the capacity of a director) in major policymaking functions of the company or bank, whether or not: the officer has an official title; the title designates the officer an assistant; or the officer is serving without salary or other compensation. \1\ The chairman of the board, the president, every vice president, the cashier, the secretary, and the treasurer of a company or bank are considered executive officers, unless the officer is excluded, by resolution of the board of directors or by the bylaws of the bank or company, from participation (other than in the capacity of a director) in major policymaking functions of the bank or company, and the officer does not actually participate therein. --------------------------------------------------------------------------- \1\ The term is not intended to include persons who may have official titles and may exercise a certain measure of discretion in the performance of their duties, including discretion in the making of loans, but who do not participate in the determination of major policies of the bank or company and whose decisions are limited by policy standards fixed by the senior management of the bank or company. For example, the term does not include a manager or assistant manager of a branch of a bank unless that individual participates, or is authorized to participate, in major policymaking functions of the bank or company. --------------------------------------------------------------------------- (2) Extensions of credit to an executive officer of an affiliate of a bank are not subject to Sec. Sec. 215.4, 215.6, and 215.8 if-- (i) The executive officer is excluded, by resolution of the board of directors or by the bylaws of the bank, from participation in major policymaking functions of the bank, and the executive officer does not actually participate in such functions; (ii) The affiliate does not control the bank; (iii) As determined annually, the assets of the affiliate do not constitute more than 10 percent of the consolidated assets of the company that-- (A) Controls the bank; and (B) Is not controlled by any other company; and (iv) The executive officer of the affiliate is not otherwise subject to Sec. Sec. 215.4, 215.6, and 215.8. (3) For purposes of paragraphs (e)(1) and (e)(2)(i) of this section, a resolution of the board of directors or a corporate bylaw may-- (i) Include the executive officer (by name or by title) in a list of persons excluded from participation in such functions; or (ii) Not include the executive officer in a list of persons authorized (by name or by title) to participate in such functions. (f) Foreign bank has the meaning given in 12 U.S.C. 3101(7). (g) Immediate family means the spouse of an individual, the individual's minor children, and any of the individual's children (including adults) residing in the individual's home. (h) Insider means an executive officer, director, or principal shareholder, and includes any related interest of such a person. (i) Lending limit. The lending limit for a member bank is an amount equal to the limit of loans to a single borrower established by section 5200 of the Revised Statutes,\2\ 12 U.S.C. 84. This amount is 15 percent of the bank's unimpaired capital and unimpaired surplus in the case of loans that are not fully secured, and an additional 10 percent of the bank's unimpaired capital and unimpaired surplus in the case of loans that are fully secured by readily marketable collateral having a [[Page 398]] market value, as determined by reliable and continuously available price quotations, at least equal to the amount of the loan. The lending limit also includes any higher amounts that are permitted by section 5200 of the Revised Statutes for the types of obligations listed therein as exceptions to the limit. A member bank's unimpaired capital and unimpaired surplus equals: --------------------------------------------------------------------------- \2\ Where State law establishes a lending limit for a State member bank that is lower than the amount permitted in section 5200 of the Revised Statutes, the lending limit established by applicable State laws shall be the lending limit for the State member bank. --------------------------------------------------------------------------- (1) The bank's tier 1 and tier 2 capital included in the bank's risk-based capital under the capital rule of the appropriate Federal banking agency, based on the bank's most recent consolidated report of condition filed under 12 U.S.C. 1817(a)(3); and (2) The balance of the bank's allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, not included in the bank's tier 2 capital for purposes of the calculation of risk-based capital under the capital rule of the appropriate Federal banking agency, based on the bank's most recent consolidated reports of condition filed under 12 U.S.C. 1817(a)(3). (3) Notwithstanding paragraphs (i)(1) and (2) of this section, for a member bank that is a qualifying community banking organization (as defined in Sec. 217.12 of this chapter) that is subject to the community bank leverage ratio framework (as defined in Sec. 217.12 of this chapter), unimpaired capital and unimpaired surplus equals Tier 1 capital (as defined in Sec. 217.12 of this chapter and calculated in accordance with Sec. 217.12(b) of this chapter) plus allowances for loan and lease losses or adjusted allowance for credit losses, as applicable. (j) Member bank means any banking institution that is a member of the Federal Reserve System, including any subsidiary of a member bank. The term does not include any foreign bank that maintains a branch in the United States, whether or not the branch is insured (within the meaning of 12 U.S.C. 1813(s)) and regardless of the operation of 12 U.S.C. 1813(h) and 12 U.S.C. 1828(j)(3)(B). (k) Pay an overdraft on an account means to pay an amount upon the order of an account holder in excess of funds on deposit in the account. (l) Person means an individual or a company. (m)(1) Principal shareholder means a person (other than an insured bank) that directly or indirectly, or acting through or in concert with one or more persons, owns, controls, or has the power to vote more than 10 percent of any class of voting securities of a member bank or company. Shares owned or controlled by a member of an individual's immediate family are considered to be held by the individual. (2) A principal shareholder of a member bank does not include a company of which a member bank is a subsidiary. (n) Related interest of a person means: (1) A company that is controlled by that person; or (2) A political or campaign committee that is controlled by that person or the funds or services of which will benefit that person. (o) Subsidiary has the meaning given in 12 U.S.C. 1841(d), but does not include a subsidiary of a member bank. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994, as amended at 60 FR 31054, June 13, 1995; 61 FR 57770, Nov. 8, 1996; 62 FR 13298, Mar. 20, 1997; 71 FR 71474, Dec. 11, 2006; 84 FR 4241, Feb. 14, 2019; 84 FR 61797, Nov. 13, 2019] Sec. 215.3 Extension of credit. (a) An extension of credit is a making or renewal of any loan, a granting of a line of credit, or an extending of credit in any manner whatsoever, and includes: (1) A purchase under repurchase agreement of securities, other assets, or obligations; (2) An advance by means of an overdraft, cash item, or otherwise; (3) Issuance of a standby letter of credit (or other similar arrangement regardless of name or description) or an ineligible acceptance, as those terms are defined in Sec. 208.24 of this chapter; (4) An acquisition by discount, purchase, exchange, or otherwise of any note, draft, bill of exchange, or other evidence of indebtedness upon which an insider may be liable as maker, drawer, endorser, guarantor, or surety; (5) An increase of an existing indebtedness, but not if the additional funds are advanced by the bank for its own protection for: [[Page 399]] (i) Accrued interest; or (ii) Taxes, insurance, or other expenses incidental to the existing indebtedness; (6) An advance of unearned salary or other unearned compensation for a period in excess of 30 days; and (7) Any other similar transaction as a result of which a person becomes obligated to pay money (or its equivalent) to a bank, whether the obligation arises directly or indirectly, or because of an endorsement on an obligation or otherwise, or by any means whatsoever. (b) An extension of credit does not include: (1) An advance against accrued salary or other accrued compensation, or an advance for the payment of authorized travel or other expenses incurred or to be incurred on behalf of the bank; (2) A receipt by a bank of a check deposited in or delivered to the bank in the usual course of business unless it results in the carrying of a cash item for or the granting of an overdraft (other than an inadvertent overdraft in a limited amount that is promptly repaid, as described in Sec. 215.4(e) of this part); (3) An acquisition of a note, draft, bill of exchange, or other evidence of indebtedness through: (i) A merger or consolidation of banks or a similar transaction by which a bank acquires assets and assumes liabilities of another bank or similar organization; or (ii) Foreclosure on collateral or similar proceeding for the protection of the bank, provided that such indebtedness is not held for a period of more than three years from the date of the acquisition, subject to extension by the appropriate Federal banking agency for good cause; (4)(i) An endorsement or guarantee for the protection of a bank of any loan or other asset previously acquired by the bank in good faith; or (ii) Any indebtedness to a bank for the purpose of protecting the bank against loss or of giving financial assistance to it; (5) Indebtedness of $15,000 or less arising by reason of any general arrangement by which a bank: (i) Acquires charge or time credit accounts; or (ii) Makes payments to or on behalf of participants in a bank credit card plan, check credit plan, or similar open-end credit plan, provided: (A) The indebtedness does not involve prior individual clearance or approval by the bank other than for the purposes of determining authority to participate in the arrangement and compliance with any dollar limit under the arrangement; and (B) The indebtedness is incurred under terms that are not more favorable than those offered to the general public; (6) Indebtedness of $5,000 or less arising by reason of an interest- bearing overdraft credit plan of the type specified in Sec. 215.4(e); (7) A discount of promissory notes, bills of exchange, conditional sales contracts, or similar paper, without recourse; or (8) Except for purposes of Sec. 215.5 of this part, a loan: (i) Made pursuant to the ``Paycheck Protection Program'' in which the participation by the Small Business Administration on a deferred basis is 100 percent; (ii) For which material terms, including the maturity and the interest rate, are set by the Small Business Administration; (iii) That is made during the ``covered period,'' as that term is defined in 15 U.S.C. 636(a)(36)(A)(iii), but in no case later than March 31, 2022; and (iv) That would not be prohibited by 13 CFR 120.110(o) or rules or interpretations thereof issued by the Small Business Administration. (c) Non-interest-bearing deposits to the credit of a bank are not considered loans, advances, or extensions of credit to the bank of deposit; nor is the giving of immediate credit to a bank upon uncollected items received in the ordinary course of business considered to be a loan, advance or extension of credit to the depositing bank. (d) For purposes of Sec. 215.4 of this part, an extension of credit by a member bank is considered to have been made at the time the bank enters into a binding commitment to make the extension of credit. [[Page 400]] (e) A participation without recourse is considered to be an extension of credit by the participating bank, not by the originating bank. (f) Tangible economic benefit rule--(1) In general. An extension of credit is considered made to an insider to the extent that the proceeds are transferred to the insider or are used for the tangible economic benefit of the insider. (2) Exception. An extension of credit is not considered made to an insider under paragraph (f)(1) of this section if: (i) The credit is extended on terms that would satisfy the standard set forth in Sec. 215.4(a) of this part for extensions of credit to insiders; and (ii) The proceeds of the extension of credit are used in a bona fide transaction to acquire property, goods, or services from the insider. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994; 63 FR 58621, Nov. 2, 1998; 85 FR 22349, Apr. 22, 2020; 85 FR 43121, July 16, 2020; 86 FR 9839, Feb. 17, 2021; 86 FR 27509, May 21, 2021] Sec. 215.4 General prohibitions. (a) Terms and creditworthiness--(1) In general. No member bank may extend credit to any insider of the bank or insider of its affiliates unless the extension of credit: (i) Is made on substantially the same terms (including interest rates and collateral) as, and following credit underwriting procedures that are not less stringent than, those prevailing at the time for comparable transactions by the bank with other persons that are not covered by this part and who are not employed by the bank; and (ii) Does not involve more than the normal risk of repayment or present other unfavorable features. (2) Exception. Nothing in this paragraph (a) or paragraph (e)(2)(ii) of this section shall prohibit any extension of credit made pursuant to a benefit or compensation program-- (i) That is widely available to employees of the member bank and, in the case of extensions of credit to an insider of its affiliates, is widely available to employees of the affiliates at which that person is an insider; and (ii) That does not give preference to any insider of the member bank over other employees of the member bank and, in the case of extensions of credit to an insider of its affiliates, does not give preference to any insider of its affiliates over other employees of the affiliates at which that person is an insider. (b) Prior approval. (1) No member bank may extend credit (which term includes granting a line of credit) to any insider of the bank or insider of its affiliates in an amount that, when aggregated with the amount of all other extensions of credit to that person and to all related interests of that person, exceeds the higher of $25,000 or 5 percent of the member bank's unimpaired capital and unimpaired surplus, unless: (i) The extension of credit has been approved in advance by a majority of the entire board of directors of that bank; and (ii) The interested party has abstained from participating directly or indirectly in the voting. (2) In no event may a member bank extend credit to any insider of the bank or insider of its affiliates in an amount that, when aggregated with all other extensions of credit to that person, and all related interests of that person, exceeds $500,000, except by complying with the requirements of this paragraph (b). (3) Approval by the board of directors under paragraphs (b)(1) and (b)(2) of this section is not required for an extension of credit that is made pursuant to a line of credit that was approved under paragraph (b)(1) of this section within 14 months of the date of the extension of credit. The extension of credit must also be in compliance with the requirements of Sec. 215.4(a) of this part. (4) Participation in the discussion, or any attempt to influence the voting, by the board of directors regarding an extension of credit constitutes indirect participation in the voting by the board of directors on an extension of credit. (c) Individual lending limit. No member bank may extend credit to any insider of the bank or insider of its affiliates in an amount that, when aggregated with the amount of all other extensions of credit by the member bank [[Page 401]] to that person and to all related interests of that person, exceeds the lending limit of the member bank specified in Sec. 215.2(i) of this part. This prohibition does not apply to an extension of credit by a member bank to a company of which the member bank is a subsidiary or to any other subsidiary of that company. (d) Aggregate lending limit--(1) General limit. A member bank may not extend credit to any insider of the bank or insider of its affiliates unless the extension of credit is in an amount that, when aggregated with the amount of all outstanding extensions of credit by that bank to all such insiders, does not exceed the bank's unimpaired capital and unimpaired surplus (as defined in Sec. 215.2(i) of this part). (2) Member banks with deposits of less than $100,000,000. (i) A member bank with deposits of less than $100,000,000 may by an annual resolution of its board of directors increase the general limit specified in paragraph (d)(1) of this section to a level not to exceed two times the bank's unimpaired capital and unimpaired surplus, if: (A) The board of directors determines that such higher limit is consistent with prudent, safe, and sound banking practices in light of the bank's experience in lending to its insiders and is necessary to attract or retain directors or to prevent restricting the availability of credit in small communities; (B) The resolution sets forth the facts and reasoning on which the board of directors bases the finding, including the amount of the bank's lending to its insiders as a percentage of the bank's unimpaired capital and unimpaired surplus as of the date of the resolution; (C) The bank meets or exceeds, on a fully-phased in basis, all applicable capital requirements established by the appropriate Federal banking agency; and (D) The bank received a satisfactory composite rating in its most recent report of examination. (ii) If a member bank has adopted a resolution authorizing a higher limit pursuant to paragraph (d)(2)(i) of this section and subsequently fails to meet the requirements of paragraph (d)(2)(i)(C) or (d)(2)(i)(D) of this section, the member bank shall not extend any additional credit (including a renewal of any existing extension of credit) to any insider of the bank or its affiliates unless such extension or renewal is consistent with the general limit in paragraph (d)(1) of this section. (3) Exceptions. (i) The general limit specified in paragraph (d)(1) of this section does not apply to the following: (A) Extensions of credit secured by a perfected security interest in bonds, notes, certificates of indebtedness, or Treasury bills of the United States or in other such obligations fully guaranteed as to principal and interest by the United States; (B) Extensions of credit to or secured by unconditional takeout commitments or guarantees of any department, agency, bureau, board, commission or establishment of the United States or any corporation wholly owned directly or indirectly by the United States; (C) Extensions of credit secured by a perfected security interest in a segregated deposit account in the lending bank; or (D) Extensions of credit arising from the discount of negotiable or nonnegotiable installment consumer paper that is acquired from an insider and carries a full or partial recourse endorsement or guarantee by the insider, provided that: (1) The financial condition of each maker of such consumer paper is reasonably documented in the bank's files or known to its officers; (2) An officer of the bank designated for that purpose by the board of directors of the bank certifies in writing that the bank is relying primarily upon the responsibility of each maker for payment of the obligation and not upon any endorsement or guarantee by the insider; and (3) The maker of the instrument is not an insider. (ii) The exceptions in paragraphs (d)(3)(i)(A) through (d)(3)(i)(C) of this section apply only to the amounts of such extensions of credit that are secured in the manner described therein. (e) Overdrafts. (1) No member bank may pay an overdraft of an executive [[Page 402]] officer or director of the bank or executive officer or director of its affiliates \3\ on an account at the bank, unless the payment of funds is made in accordance with: --------------------------------------------------------------------------- \3\ This prohibition does not apply to the payment by a member bank of an overdraft of a principal shareholder of the member bank, unless the principal shareholder is also an executive officer or director. This prohibition also does not apply to the payment by a member bank of an overdraft of a related interest of an executive officer, director, or principal shareholder of the member bank or executive officer, director, or principal shareholder of its affiliates. --------------------------------------------------------------------------- (i) A written, preauthorized, interest-bearing extension of credit plan that specifies a method of repayment; or (ii) A written, preauthorized transfer of funds from another account of the account holder at the bank. (2) The prohibition in paragraph (e)(1) of this section does not apply to payment of inadvertent overdrafts on an account in an aggregate amount of $1,000 or less, provided: (i) The account is not overdrawn for more than 5 business days; and (ii) The member bank charges the executive officer or director the same fee charged any other customer of the bank in similar circumstances. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994, as amended at 61 FR 57770, Nov. 8, 1996; 62 FR 13298, Mar. 20, 1997] Sec. 215.5 Additional restrictions on loans to executive officers of member banks. The following restrictions on extensions of credit by a member bank to any of its executive officers apply in addition to any restrictions on extensions of credit by a member bank to insiders of itself or its affiliates set forth elsewhere in this part. The restrictions of this section apply only to executive officers of the member bank and not to executive officers of its affiliates. (a) No member bank may extend credit to any of its executive officers, and no executive officer of a member bank shall borrow from or otherwise become indebted to the bank, except in the amounts, for the purposes, and upon the conditions specified in paragraphs (c) and (d) of this section. (b) No member bank may extend credit in an aggregate amount greater than the amount permitted in paragraph (c)(4) of this section to a partnership in which one or more of the bank's executive officers are partners and, either individually or together, hold a majority interest. For the purposes of paragraph (c)(4) of this section, the total amount of credit extended by a member bank to such partnership is considered to be extended to each executive officer of the member bank who is a member of the partnership. (c) A member bank is authorized to extend credit to any executive officer of the bank: (1) In any amount to finance the education of the executive officer's children; (2) In any amount to finance or refinance the purchase, construction, maintenance, or improvement of a residence of the executive officer, provided: (i) The extension of credit is secured by a first lien on the residence and the residence is owned (or expected to be owned after the extension of credit) by the executive officer; and (ii) In the case of a refinancing, that only the amount thereof used to repay the original extension of credit, together with the closing costs of the refinancing, and any additional amount thereof used for any of the purposes enumerated in this paragraph (c)(2), are included within this category of credit; (3) In any amount, if the extension of credit is secured in a manner described in Sec. 215.4(d)(3)(i)(A) through (d)(3)(i)(C) of this part; and (4) For any other purpose not specified in paragraphs (c)(1) through (c)(3) of this section, if the aggregate amount of extensions of credit to that executive officer under this paragraph does not exceed at any one time the higher of 2.5 per cent of the bank's unimpaired capital and unimpaired surplus or $25,000, but in no event more than $100,000. (d) Any extension of credit by a member bank to any of its executive officers shall be: (1) Promptly reported to the member bank's board of directors; [[Page 403]] (2) In compliance with the requirements of Sec. 215.4(a) of this part; (3) Preceded by the submission of a detailed current financial statement of the executive officer; and (4) Made subject to the condition in writing that the extension of credit will, at the option of the member bank, become due and payable at any time that the officer is indebted to any other bank or banks in an aggregate amount greater than the amount specified for a category of credit in paragraph (c) of this section. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994; 60 FR 17636, Apr. 7, 1995] Sec. 215.6 Prohibition on knowingly receiving unauthorized extension of credit. No executive officer, director, or principal shareholder of a member bank or any of its affiliates shall knowingly receive (or knowingly permit any of that person's related interests to receive) from a member bank, directly or indirectly, any extension of credit not authorized under this part. Sec. 215.7 Extensions of credit outstanding on March 10, 1979. (a) Any extension of credit that was outstanding on March 10, 1979, and that would, if made on or after March 10, 1979, violate Sec. 215.4(c) of this part, shall be reduced in amount by March 10, 1980, to be in compliance with the lending limit in Sec. 215.4(c) of this part. Any renewal or extension of such an extension of credit on or after March 10, 1979, shall be made only on terms that will bring the extension of credit into compliance with the lending limit of Sec. 215.4(c) of this part by March 10, 1980. However, any extension of credit made before March 10, 1979, that bears a specific maturity date of March 10, 1980, or later, shall be repaid in accordance with its repayment schedule in existence on or before March 10, 1979. (b) If a member bank is unable to bring all extensions of credit outstanding on March 10, 1979, into compliance as required by paragraph (a) of this section, the member bank shall promptly report that fact to the Comptroller of the Currency, in the case of a national bank, or to the appropriate Federal Reserve Bank, in the case of a State member bank, and explain the reasons why all the extensions of credit cannot be brought into compliance. The Comptroller or the Reserve Bank, as the case may be, is authorized, on the basis of good cause shown, to extend the March 10, 1980, date for compliance for any extension of credit for not more than two additional one-year periods. Sec. 215.8 Records of member banks. (a) In general. Each member bank shall maintain records necessary for compliance with the requirements of this part. (b) Recordkeeping for insiders of the member bank. Any recordkeeping method adopted by a member bank shall: (1) Identify, through an annual survey, all insiders of the bank itself; and (2) Maintain records of all extensions of credit to insiders of the bank itself, including the amount and terms of each such extension of credit. (c) Recordkeeping for insiders of the member bank's affiliates. Any recordkeeping method adopted by a member bank shall maintain records of extensions of credit to insiders of the member bank's affiliates by: (1) Survey method. (i) Identifying, through an annual survey, each insider of the member bank's affiliates; and (ii) Maintaining records of the amount and terms of each extension of credit by the member bank to such insiders; or (2) Borrower inquiry method. (i) Requiring as part of each extension of credit that the borrower indicate whether the borrower is an insider of an affiliate of the member bank; and (ii) Maintaining records that identify the amount and terms of each extension of credit by the member bank to borrowers so identifying themselves. (3) Alternative recordkeeping methods for insiders of affiliates. A member bank may employ a recordkeeping method other than those identified in paragraphs (c)(1) and (c)(2) of this section if the appropriate Federal banking agency determines that the bank's method is at least as effective as the identified methods. (d) Special rule for non-commercial lenders. A member bank that is prohibited by law or by an express resolution [[Page 404]] of the board of directors of the bank from making an extension of credit to any company or other entity that is covered by this part as a company is not required to maintain any records of the related interests of the insiders of the bank or its affiliates or to inquire of borrowers whether they are related interests of the insiders of the bank or its affiliates. Sec. 215.9 Disclosure of credit from member banks to executive officers and principal shareholders. (a) Definitions. For the purposes of this section, the following definitions apply: (1) Principal shareholder of a member bank means any person other than an insured bank, or a foreign bank as defined in 12 U.S.C. 3101(7), that, directly or indirectly, owns, controls, or has power to vote more than 10 percent of any class of voting securities of the member bank. The term includes a person that controls a principal shareholder (e.g., a person that controls a bank holding company). Shares of a bank (including a foreign bank), bank holding company, savings and loan holding company or other company owned or controlled by a member of an individual's immediate family are presumed to be owned or controlled by the individual for the purposes of determining principal shareholder status. (2) Related interest means: (i) Any company controlled by a person; or (ii) Any political or campaign committee the funds or services of which will benefit a person or that is controlled by a person. For the purpose of this section, a related interest does not include a bank or a foreign bank (as defined in 12 U.S.C. 3101(7)). (b) Public disclosure. (1) Upon receipt of a written request from the public, a member bank shall make available the names of each of its executive officers and each of its principal shareholders to whom, or to whose related interests, the member bank had outstanding as of the end of the latest previous quarter of the year, an extension of credit that, when aggregated with all other outstanding extensions of credit at such time from the member bank to such person and to all related interests of such person, equaled or exceeded 5 percent of the member bank's capital and unimpaired surplus or $500,000, whichever amount is less. No disclosure under this paragraph is required if the aggregate amount of all extensions of credit outstanding at such time from the member bank to the executive officer or principal shareholder of the member bank and to all related interests of such a person does not exceed $25,000. (2) A member bank is not required to disclose the specific amounts of individual extensions of credit. (c) Maintaining records. Each member bank shall maintain records of all requests for the information described in paragraph (b) of this section and the disposition of such requests. These records may be disposed of after two years from the date of the request. [Reg. O, 59 FR 8837, Feb. 24, 1994; 59 FR 37930, July 26, 1994. Redesignated and amended at 71 FR 71474, Dec. 11, 2006, as amended at 76 FR 56530, Sept. 13, 2011] Sec. 215.10 Reporting requirement for credit secured by certain bank stock. Each executive officer or director of a member bank the shares of which are not publicly traded shall report annually to the board of directors of the member bank the outstanding amount of any credit that was extended to the executive officer or director and that is secured by shares of the member bank. [Reg. O, 59 FR 8837, Feb. 24, 1994. Redesignated at 71 FR 71474, Dec. 11, 2006] Sec. 215.11 Civil penalties. Any member bank, or any officer, director, employee, agent, or other person participating in the conduct of the affairs of the bank, that violates any provision of this part (other than Sec. 215.9) is subject to civil penalties as specified in section 29 of the Federal Reserve Act (12 U.S.C. 504). [Reg. O, 71 FR 71475, Dec. 11, 2006] Sec. 215.12 Application to savings associations. The requirements of this part apply to savings associations, as defined in 12 CFR 238.2(l) (including any subsidiary of a savings association), in the same [[Page 405]] manner and to the same extent as if the savings association were a member bank; provided that a savings association's unimpaired capital and unimpaired surplus will be determined under regulatory capital rules applicable to that savings association. [Reg. O, 76 FR 56530, Sept. 13, 2011] Sec. Appendix to Part 215--Section 5200 of the Revised Statutes Total Loans and Extensions of Credit (a)(1) The total loans and extensions of credit by a national banking association to a person outstanding at one time and not fully secured, as determined in a manner consistent with paragraph (2) of this subsection, by collateral having a market value at least equal to the amount of the loan or extension of credit shall not exceed 15 per centum of the unimpaired capital and unimpaired surplus of the association. (2) The total loans and extensions of credit by a national banking association to a person outstanding at one time and fully secured by readily marketable collateral having a market value, as determined by reliable and continuously available price quotations, at least equal to the amount of the funds outstanding shall not exceed 10 per centum of the unimpaired capital and unimpaired surplus of the association. This limitation shall be separate from and in addition to the limitations contained in paragraph (1) of this subsection. Definitions (b) For the purposes of this section-- (1) The term loans and extensions of credit shall include all direct or indirect advances of funds to a person made on the basis of any obligation of that person to repay the funds or repayable from specific property pledged by or on behalf of the person, and to the extent specified by the Comptroller of the Currency, such term shall also include any liability of a national banking association to advance funds to or on behalf of a person pursuant to a contractual commitment; and (2) The term person shall include an individual, sole proprietorship, partnership, joint venture, association, trust, estate, business trust, corporation, sovereign government, or agency, instrumentality, or political subdivision thereof, or any similar entity or organization. Exceptions (c) The limitations contained in subsection (a) of this section shall be subject to the following exceptions: (1) Loans or extensions of credit arising from the discount of commercial or business paper evidencing an obligation to the person negotiating it with recourse shall not be subject to any limitation based on capital and surplus. (2) The purchase of bankers' acceptances of the kind described in section 372 of this title and issued by other banks shall not be subject to any limitation based on capital and surplus. (3) Loans and extensions of credit secured by bills of lading, warehouse receipts, or similar documents transferring or securing title to readily marketable staples shall be subject to a limitation of 35 per centum of capital and surplus in addition to the general limitations if the market value of the staples securing each additional loan or extension of credit at all times equals or exceeds 115 per centum of the outstanding amount of such loan or extension of credit. The staples shall be fully covered by insurance whenever it is customary to insure such staples. (4) Loans or extensions of credit secured by bonds, notes, certificates of indebtedness, or Treasury bills of the United States or by other such obligations fully guaranteed as to principal and interest by the United States shall not be subject to any limitation based on capital and surplus. (5) Loans or extensions of credit to or secured by unconditional takeout commitments or guarantees of any department, agency, bureau, board, commission, or establishment of the United States or any corporation wholly owned directly or indirectly by the United States shall not be subject to any limitation based on capital and surplus. (6) Loans or extensions of credit secured by a segregated deposit account in the lending bank shall not be subject to any limitation based on capital and surplus. (7) Loans or extensions of credit to any financial institution or to any receiver, conservator, superintendent of banks, or other agent in charge of the business and property of such financial institution, when such loans or extensions of credit are approved by the Comptroller of the Currency, shall not be subject to any limitation based on capital and surplus. (8)(A) Loans and extensions of credit arising from the discount of negotiable or nonnegotiable installment consumer paper which carries a full recourse endorsement or unconditional guarantee by the person transferring the paper shall be subject under this section to a maximum limitation equal to 25 per centum of such capital and surplus, notwithstanding the collateral requirements set forth in subsection (a)(2) of this section. (B) If the bank's files or the knowledge of its officers of the financial condition of each maker of such consumer paper is reasonably adequate, and an officer of the bank designated for that purpose by the board of directors of the bank certifies in writing that the bank is relying primarily upon the responsibility of each maker for payment of [[Page 406]] such loans or extensions of credit and not upon any full or partial recourse endorsement or guarantee by the transferor, the limitations of this section as to the loans or extensions of credit of each such maker shall be the sole applicable loan limitations. (9)(A) Loans and extensions of credit secured by shipping documents or instruments transferring or securing title covering livestock or giving a lien on livestock when the market value of the livestock securing the obligation is not at any time less than 115 per centum of the face amount of the note covered, shall be subject under this section notwithstanding the collateral requirements set forth in subsection (a)(2) of this section, to a maximum limitation equal to 25 per centum of such capital and surplus. (B) Loans and extensions of credit which arise from the discount by dealers in dairy cattle of paper given in payment for dairy cattle, which paper carries a full recourse endorsement or unconditional guarantee of the seller, and which are secured by the cattle being sold, shall be subject under this section, notwithstanding the collateral requirements set forth in paragraph (a)(2) of this section, to a limitation of 25 per centum of such capital and surplus. (10) Loans or extensions of credit to the Student Loan Marketing Association shall not be subject to any limitation based on capital and surplus. Authority of Comptroller of the Currency (d)(1) The Comptroller of the Currency may prescribe rules and regulations to administer and carry out the purposes of this section, including rules or regulations to define or further define terms used in this section and to establish limits or requirements other than those specified in this section for particular classes or categories of loans or extensions of credit. (2) The Comptroller of the Currency also shall have authority to determine when a loan putatively made to a person shall for purposes of this section be attributed to another person. [48 FR 42806, Sept. 20, 1983] PART 216 [RESERVED] PART 217_CAPITAL ADEQUACY OF BANK HOLDING COMPANIES, SAVINGS AND LOAN HOLDING COMPANIES, AND STATE MEMBER BANKS (REGULATION Q)--Table of Contents Subpart A_General Provisions Sec. 217.1 Purpose, applicability, reservations of authority, and timing. 217.2 Definitions. 217.3 Operational requirements for certain exposures. 217.4-217.9 [Reserved] Subpart B_Capital Ratio Requirements and Buffers 217.10 Minimum capital requirements. 217.11 Capital conservation buffer, countercyclical capital buffer amount, and GSIB surcharge. 217.12 Community bank leverage ratio framework. 217.13-217.19 [Reserved] Subpart C_Definition of Capital 217.20 Capital components and eligibility criteria for regulatory capital instruments. 217.21 Minority interest. 217.22 Regulatory capital adjustments and deductions. 217.23-217.29 [Reserved] Subpart D_Risk-weighted Assets_Standardized Approach 217.30 Applicability. Risk-Weighted Assets for General Credit Risk 217.31 Mechanics for calculating risk-weighted assets for general credit risk. 217.32 General risk weights. 217.33 Off-balance sheet exposures. 217.34 Derivative contracts. 217.35 Cleared transactions. 217.36 Guarantees and credit derivatives: Substitution treatment. 217.37 Collateralized transactions. Risk-Weighted Assets for Unsettled Transactions 217.38 Unsettled transactions. 217.39-217.40 [Reserved] Risk-Weighted Assets for Securitization Exposures 217.41 Operational requirements for securitization exposures. 217.42 Risk-weighted assets for securitization exposures. [[Page 407]] 217.43 Simplified supervisory formula approach (SSFA) and the gross-up approach. 217.44 Securitization exposures to which the SSFA and gross-up approach do not apply. 217.45 Recognition of credit risk mitigants for securitization exposures. 217.46-217.50 [Reserved] Risk-Weighted Assets for Equity Exposures 217.51 Introduction and exposure measurement. 217.52 Simple risk-weight approach (SRWA). 217.53 Equity exposures to investment funds. 217.54-217.60 [Reserved] Disclosures 217.61 Purpose and scope. 217.62 Disclosure requirements. 217.63 Disclosures by Board-regulated institutions described in Sec. 217.61. 217.64-217.99 [Reserved] Subpart E_Risk-Weighted Assets_Internal Ratings-Based and Advanced Measurement Approaches 217.100 Purpose, applicability, and principle of conservatism. 217.101 Definitions. 217.102-217.120 [Reserved] Qualification 217.121 Qualification process. 217.122 Qualification requirements. 217.123 Ongoing qualification. 217.124 Merger and acquisition transitional arrangements. 217.125-217.130 [Reserved] Risk-Weighted Assets For General Credit Risk 217.131 Mechanics for calculating total wholesale and retail risk- weighted assets. 217.132 Counterparty credit risk of repo-style transactions, eligible margin loans, and OTC derivative contracts. 217.133 Cleared transactions. 217.134 Guarantees and credit derivatives: PD substitution and LGD adjustment approaches. 217.135 Guarantees and credit derivatives: Double default treatment. 217.136 Unsettled transactions. 217.137-217.140 [Reserved] Risk-Weighted Assets for Securitization Exposures 217.141 Operational criteria for recognizing the transfer of risk. 217.142 Risk-based capital requirement for securitization exposures. 217.143 Supervisory formula approach (SFA). 217.144 Simplified supervisory formula approach (SSFA). 217.145 Recognition of credit risk mitigants for securitization exposures. 217.146-217.150 [Reserved] Risk-Weighted Assets For Equity Exposures 217.151 Introduction and exposure measurement. 217.152 Simple risk weight approach (SRWA). 217.153 Internal models approach (IMA). 217.154 Equity exposures to investment funds. 217.155 Equity derivative contracts. 217.156-217.160 [Reserved] Risk-Weighted Assets For Operational Risk 217.161 Qualification requirements for incorporation of operational risk mitigants. 217.162 Mechanics of risk-weighted asset calculation. 217.163-217.170 [Reserved] Disclosures 217.171 Purpose and scope. 217.172 Disclosure requirements. 217.173 Disclosures by certain advanced approaches Board-regulated institutions and Category III Board-regulated institutions. 217.174-217.200 [Reserved] Subpart F_Risk-weighted Assets_Market Risk 217.201 Purpose, applicability, and reservation of authority. 217.202 Definitions. 217.203 Requirements for application of this subpart F. 217.204 Measure for market risk. 217.205 VaR-based measure. 217.206 Stressed VaR-based measure. 217.207 Specific risk. 217.208 Incremental risk. 217.209 Comprehensive risk. 217.210 Standardized measurement method for specific risk. 217.211 Simplified supervisory formula approach (SSFA). 217.212 Market risk disclosures. 217.213-217.299 [Reserved] Subpart G_Transition Provisions 217.300 Transitions. 217.301 Current expected credit losses (CECL) transition. 217.302 Exposures Related the Money Market Mutual Fund Liquidity Facility. 217.303 Temporary exclusions from total leverage exposure. [[Page 408]] 217.304 Temporary changes to the community bank leverage ratio framework. 217.305 Exposures related to the Paycheck Protection Program Lending Facility. 217.306 Building Block Approach (BBA) capital conservation buffer transition. Subpart H_Risk-based Capital Surcharge for Global Systemically Important Bank Holding Companies 217.400 Purpose and applicability. 217.401 Definitions. 217.402 Identification as a global systemically important BHC. 217.403 GSIB surcharge. 217.404 Method 1 score. 217.405 Method 2 score. 217.406 Short-term wholesale funding score. Subpart I_Application of Capital Rules 217.501 The Board's Regulatory Capital Framework for Depository Institution Holding Companies Organized as Non-Stock Companies. 217.502 Application of the Board's Regulatory Capital Framework to Employee Stock Ownership Plans that are Depository Institution Holding Companies and Certain Trusts that are Savings and Loan Holding Companies. Subpart J_Risk-Based Capital Requirements for Board-Regulated Institutions Significantly Engaged in Insurance Activities 217.601 Purpose, applicability, and reservations of authority. 217.602 Definitions. 217.603 BBA ratio and minimum requirements. 217.604 Capital conservation buffer. 217.605 Determination of building blocks. 217.606 Scaling parameters. 217.607 Capital requirements under the Building Block Approach. 217.608 Available capital resources under the Building Block Approach. Appendix A to Part 217--The Federal Reserve Board's Framework for Implementing the Countercyclical Capital Buffer Authority: 12 U.S.C. 248(a), 321-338a, 481-486, 1462a, 1467a, 1818, 1828, 1831n, 1831o, 1831p-1, 1831w, 1835, 1844(b), 1851, 3904, 3906- 3909, 4808, 5365, 5368, 5371, 5371 note, and sec. 4012, Pub. L. 116-136, 134 Stat. 281. Source: Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, unless otherwise noted. Subpart A_General Provisions Sec. 217.1 Purpose, applicability, reservations of authority, and timing. (a) Purpose. This part establishes minimum capital requirements and overall capital adequacy standards for entities described in paragraph (c)(1) of this section. This part includes methodologies for calculating minimum capital requirements, public disclosure requirements related to the capital requirements, and transition provisions for the application of this part. (b) Limitation of authority. Nothing in this part shall be read to limit the authority of the Board to take action under other provisions of law, including action to address unsafe or unsound practices or conditions, deficient capital levels, or violations of law or regulation, under section 8 of the Federal Deposit Insurance Act, section 8 of the Bank Holding Company Act, or section 10 of the Home Owners' Loan Act. (c) Applicability--(1)(i) Applicability in general. This part applies on a consolidated basis to every Board-regulated institution that is: (A) A state member bank; (B) A bank holding company domiciled in the United States that is not subject to 12 CFR part 225, appendix C, provided that the Board may by order apply any or all of this part to any bank holding company, based on the institution's size, level of complexity, risk profile, scope of operations, or financial condition; or (C) A covered savings and loan holding company domiciled in the United States, other than a savings and loan holding company that meets the requirements of 12 CFR part 225, appendix C, as if the savings and loan holding company were a bank holding company and the savings association were a bank. For purposes of compliance with the capital adequacy requirements and calculations in this part, savings and loan holding companies that do not file form FR Y-9C or form FR Q-1 should follow the instructions to the FR Y-9C. (ii) Mid-tier holding companies of insurance depository institution holding companies. In the case of a bank holding company, or a covered savings and loan [[Page 409]] holding company, that does not calculate minimum risk-based capital requirements under subpart B of this part by operation of Sec. 217.10(f)(1), this part applies to a depository institution holding company that is a subsidiary of such bank holding company or covered savings and loan holding company, provided that: (A) The subsidiary depository institution holding company is an insurance mid-tier holding company; and (B) The subsidiary depository institution holding company's assets and liabilities are not consolidated with those of a depository institution holding company that controls the subsidiary for purposes of determining the parent depository institution holding company's capital requirements and capital ratios under subparts B through F of this part. (2) Minimum capital requirements and overall capital adequacy standards. Each Board-regulated institution must calculate its minimum capital requirements and meet the overall capital adequacy standards in subpart B of this part. (3) Regulatory capital. Each Board-regulated institution must calculate its regulatory capital in accordance with subpart C of this part. (4) Risk-weighted assets. (i) Each Board-regulated institution must use the methodologies in subpart D of this part (and subpart F of this part for a market risk Board-regulated institution) to calculate standardized total risk-weighted assets. (ii) Each advanced approaches Board-regulated institution must use the methodologies in subpart E (and subpart F of this part for a market risk Board-regulated institution) to calculate advanced approaches total risk-weighted assets. (5) Disclosures. (i) Except for an advanced approaches Board- regulated institution that is making public disclosures pursuant to the requirements in subpart E of this part, each Board-regulated institution with total consolidated assets of $50 billion or more must make the public disclosures described in subpart D of this part. (ii) Each market risk Board-regulated institution must make the public disclosures described in subpart F of this part. (iii) Each advanced approaches Board-regulated institution must make the public disclosures described in subpart E of this part. (d) Reservation of authority--(1) Additional capital in the aggregate. The Board may require a Board-regulated institution to hold an amount of regulatory capital greater than otherwise required under this part if the Board determines that the Board-regulated institution's capital requirements under this part are not commensurate with the Board-regulated institution's credit, market, operational, or other risks. (2) Regulatory capital elements. (i) If the Board determines that a particular common equity tier 1, additional tier 1, or tier 2 capital element has characteristics or terms that diminish its ability to absorb losses, or otherwise present safety and soundness concerns, the Board may require the Board-regulated institution to exclude all or a portion of such element from common equity tier 1 capital, additional tier 1 capital, or tier 2 capital, as appropriate. (ii) Notwithstanding the criteria for regulatory capital instruments set forth in subpart C of this part, the Board may find that a capital element may be included in a Board-regulated institution's common equity tier 1 capital, additional tier 1 capital, or tier 2 capital on a permanent or temporary basis consistent with the loss absorption capacity of the element and in accordance with Sec. 217.20(e). (3) Risk-weighted asset amounts. If the Board determines that the risk-weighted asset amount calculated under this part by the Board- regulated institution for one or more exposures is not commensurate with the risks associated with those exposures, the Board may require the Board-regulated institution to assign a different risk-weighted asset amount to the exposure(s) or to deduct the amount of the exposure(s) from its regulatory capital. (4) Total leverage. If the Board determines that the total leverage exposure, or the amount reflected in the Board-regulated institution's reported average total consolidated assets, for an [[Page 410]] on- or off-balance sheet exposure calculated by a Board-regulated institution under Sec. 217.10 is inappropriate for the exposure(s) or the circumstances of the Board-regulated institution, the Board may require the Board-regulated institution to adjust this exposure amount in the numerator and the denominator for purposes of the leverage ratio calculations. (5) Consolidation of certain exposures. The Board may determine that the risk-based capital treatment for an exposure or the treatment provided to an entity that is not consolidated on the Board-regulated institution's balance sheet is not commensurate with the risk of the exposure and the relationship of the Board-regulated institution to the entity. Upon making this determination, the Board may require the Board- regulated institution to treat the exposure or entity as if it were consolidated on the balance sheet of the Board-regulated institution for purposes of determining the Board-regulated institution's risk-based capital requirements and calculating the Board-regulated institution's risk-based capital ratios accordingly. The Board will look to the substance of, and risk associated with, the transaction, as well as other relevant factors the Board deems appropriate in determining whether to require such treatment. (6) Other reservation of authority. With respect to any deduction or limitation required under this part, the Board may require a different deduction or limitation, provided that such alternative deduction or limitation is commensurate with the Board-regulated institution's risk and consistent with safety and soundness. (e) Notice and response procedures. In making a determination under this section, the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (f) Timing. (1) Subject to the transition provisions in subpart G of this part, an advanced approaches Board-regulated institution that is not a savings and loan holding company must: (i) Except as described in paragraph (f)(1)(ii) of this section, beginning on January 1, 2014, calculate advanced approaches total risk- weighted assets in accordance with subpart E and, if applicable, subpart F of this part and, beginning on January 1, 2015, calculate standardized total risk-weighted assets in accordance with subpart D and, if applicable, subpart F of this part; (ii) From January 1, 2014 to December 31, 2014: (A) Calculate risk-weighted assets in accordance with the general risk-based capital rules under 12 CFR parts 208 or 225, appendix A, and, if applicable, appendix E (state member banks or bank holding companies, respectively) \1\ and substitute such risk-weighted assets for standardized total risk-weighted assets for purposes of Sec. 217.10; --------------------------------------------------------------------------- \1\ For the purpose of calculating its general risk-based capital ratios from January 1, 2014 to December 31, 2014, an advanced approaches Board-regulated institution shall adjust, as appropriate, its risk- weighted asset measure (as that amount is calculated under 12 CFR parts 208 and 225, and, if applicable, appendix E (state member banks or bank holding companies, respectively) in the general risk-based capital rules) by excluding those assets that are deducted from its regulatory capital under Sec. 217.22. --------------------------------------------------------------------------- (B) If applicable, calculate general market risk equivalent assets in accordance with 12 CFR parts 208 or 225, appendix E, section 4(a)(3) (state member banks or bank holding companies, respectively) and substitute such general market risk equivalent assets for standardized market risk-weighted assets for purposes of Sec. 217.20(d)(3); and (C) Substitute the corresponding provision or provisions of 12 CFR parts 208 or 225, appendix A, and, if applicable, appendix E (state member banks or bank holding companies, respectively) for any reference to subpart D of this part in: Sec. 217.121(c); Sec. 217.124(a) and (b); Sec. 217.144(b); Sec. 217.154(c) and (d); Sec. 217.202(b) (definition of covered position in paragraph (b)(3)(iv)); and Sec. 217.211(b); \2\ --------------------------------------------------------------------------- \2\ In addition, for purposes of Sec. 217.201(c)(3), from January 1, 2014 to December 31, 2014, for any circumstance in which the Board may require a Board-regulated institution to calculate risk-based capital requirements for specific positions or portfolios under subpart D of this part, the Board will instead require the Board-regulated institution to make such calculations according to 12 CFR parts 208 and 225, appendix A and, if applicable, appendix E (state member banks or bank holding companies, respectively). --------------------------------------------------------------------------- [[Page 411]] (iii) Beginning on January 1, 2014, calculate and maintain minimum capital ratios in accordance with subparts A, B, and C of this part, provided, however, that such Board-regulated institution must: (A) From January 1, 2014 to December 31, 2014, maintain a minimum common equity tier 1 capital ratio of 4 percent, a minimum tier 1 capital ratio of 5.5 percent, a minimum total capital ratio of 8 percent, and a minimum leverage ratio of 4 percent; and (B) From January 1, 2015 to December 31, 2017, an advanced approaches Board-regulated institution: (1) Is not required to maintain a supplementary leverage ratio; and (2) Must calculate a supplementary leverage ratio in accordance with Sec. 217.10(c), and must report the calculated supplementary leverage ratio on any applicable regulatory reports. (2) Subject to the transition provisions in subpart G of this part, a Board-regulated institution that is not an advanced approaches Board- regulated institution or a savings and loan holding company that is an advanced approaches Board-regulated institution must: (i) Beginning on January 1, 2015, calculate standardized total risk- weighted assets in accordance with subpart D, and if applicable, subpart F of this part; and (ii) Beginning on January 1, 2015, calculate and maintain minimum capital ratios in accordance with subparts A, B and C of this part, provided, however, that from January 1, 2015 to December 31, 2017, a savings and loan holding company that is an advanced approaches Board- regulated institution: (A) Is not required to maintain a supplementary leverage ratio; and (B) Must calculate a supplementary leverage ratio in accordance with Sec. 217.10(c), and must report the calculated supplementary leverage ratio on any applicable regulatory reports. (3) Beginning on January 1, 2016, and subject to the transition provisions in subpart G of this part, a Board-regulated institution is subject to limitations on distributions and discretionary bonus payments with respect to its capital conservation buffer, any applicable countercyclical capital buffer amount, and any applicable GSIB surcharge, in accordance with subpart B of this part. (4) Beginning Jan. 1, 2018, a global systemically important BHC (as defined in Sec. 217.2) is subject to limitations on distributions and discretionary bonus payments in accordance with the lower of the maximum payout amount as determined under Sec. 217.11(a)(2)(iii) and the maximum leverage payout amount as determined under Sec. 217.11(a)(2)(vi). (5) A depository institution holding company, a U.S. intermediate holding company, or a state member bank that changes from one category of Board-regulated institution to another of such categories must comply with the requirements of its category in this part, including applicable transition provisions of the requirements in this part, no later than on the first day of the second quarter following the change in the company's category. (g) Depository institution holding companies and treatment of subsidiary state-regulated insurers, regulated foreign subsidiaries, and regulated foreign affiliates--(1) In general. In complying with the capital adequacy requirements of this part (except for the requirements and calculations of subpart J of this part), including any determination of applicability under Sec. 217.100 or Sec. 217.201, an insurance bank holding company, insurance savings and loan holding company, or insurance mid-tier holding company may elect not to consolidate the assets and liabilities of its subsidiary state-regulated insurers, regulated foreign subsidiaries, and regulated foreign affiliates. Such an institution that makes this election must either: (i) Deduct from the sum of its common equity tier 1 capital elements the aggregate amount of its outstanding equity investment, including retained earnings, in such subsidiaries and affiliates; or (ii) Include in the risk-weighted assets of the Board-regulated institution the aggregate amount of its outstanding equity investment, including [[Page 412]] retained earnings, in such subsidiaries and affiliates and assign to these assets a 400 percent risk weight. (2) Method of election. (i) An insurance bank holding company, insurance savings and loan holding company, or insurance mid-tier holding company may make the election described in paragraph (g)(1) of this section by indicating that it has made this election on the applicable regulatory report, filed by the insurance bank holding company, insurance savings and loan holding company, or insurance mid- tier holding company for the first reporting period in which it is an insurance bank holding company, insurance savings and loan holding company, or insurance mid-tier holding company. The electing Board- regulated institution must indicate on the applicable regulatory report whether it elects to deduct from the sum of its common equity tier 1 capital elements in accordance with paragraph (g)(1)(i) of this section or whether it elects to include an amount in its risk-weighted assets in accordance with paragraph (g)(1)(ii) of this section. (ii) An insurance bank holding company, insurance savings and loan holding company, or insurance mid-tier holding company that has not made an effective election pursuant to paragraph (g)(2)(i) of this section, or that seeks to change its election (or its choice of treatment under paragraph (g)(1) of this section) due to a change in control, business combination, or other legitimate business purpose, may do so only with the prior approval of the Board, effective as of the first reporting period after the period in which the Board approves the election, or such other date specified in the approval. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 24540, May 1, 2014; 79 FR 57744, Sept. 26, 2014; 80 FR 5670, Feb. 3, 2015; 80 FR 20157, Apr. 15, 2015; 80 FR 49103, Aug. 14, 2015; 83 FR 44198, Aug. 30, 2018; 84 FR 59269, Nov. 1, 2019; 88 FR 82967, Nov. 27, 2023] Sec. 217.2 Definitions. As used in this part: Additional tier 1 capital is defined in Sec. 217.20(c). Adjusted allowances for credit losses (AACL) means, with respect to a Board-regulated institution that has adopted CECL, valuation allowances that have been established through a charge against earnings or retained earnings for expected credit losses on financial assets measured at amortized cost and a lessor's net investment in leases that have been established to reduce the amortized cost basis of the assets to amounts expected to be collected as determined in accordance with GAAP. For purposes of this part, adjusted allowances for credit losses include allowances for expected credit losses on off-balance sheet credit exposures not accounted for as insurance as determined in accordance with GAAP. Adjusted allowances for credit losses exclude ``allocated transfer risk reserves'' and allowances created that reflect credit losses on purchased credit deteriorated assets and available-for- sale debt securities. Advanced approaches Board-regulated institution means a Board- regulated institution that is described in Sec. 217.100(b)(1). Advanced approaches total risk-weighted assets means: (1) The sum of: (i) Credit-risk-weighted assets; (ii) Credit valuation adjustment (CVA) risk-weighted assets; (iii) Risk-weighted assets for operational risk; and (iv) For a market risk Board-regulated institution only, advanced market risk-weighted assets; minus (2) Excess eligible credit reserves not included in the Board- regulated institution's tier 2 capital. Advanced market risk-weighted assets means the advanced measure for market risk calculated under Sec. 217.204 multiplied by 12.5. Affiliate with respect to a company, means any company that controls, is controlled by, or is under common control with, the company. Allocated transfer risk reserves means reserves that have been established in accordance with section 905(a) of the International Lending Supervision Act, against certain assets whose value U.S. supervisory authorities have found to be significantly impaired by protracted transfer risk problems. Allowances for loan and lease losses (ALLL) means valuation allowances that have been established through a [[Page 413]] charge against earnings to cover estimated credit losses on loans, lease financing receivables or other extensions of credit as determined in accordance with GAAP. ALLL excludes ``allocated transfer risk reserves.'' For purposes of this part, ALLL includes allowances that have been established through a charge against earnings to cover estimated credit losses associated with off-balance sheet credit exposures as determined in accordance with GAAP. Asset-backed commercial paper (ABCP) program means a program established primarily for the purpose of issuing commercial paper that is investment grade and backed by underlying exposures held in a bankruptcy-remote special purpose entity (SPE). Asset-backed commercial paper (ABCP) program sponsor means a Board- regulated institution that: (1) Establishes an ABCP program; (2) Approves the sellers permitted to participate in an ABCP program; (3) Approves the exposures to be purchased by an ABCP program; or (4) Administers the ABCP program by monitoring the underlying exposures, underwriting or otherwise arranging for the placement of debt or other obligations issued by the program, compiling monthly reports, or ensuring compliance with the program documents and with the program's credit and investment policy. Bank holding company means a bank holding company as defined in section 2 of the Bank Holding Company Act. Bank Holding Company Act means the Bank Holding Company Act of 1956, as amended (12 U.S.C. 1841 et seq.). Bankruptcy remote means, with respect to an entity or asset, that the entity or asset would be excluded from an insolvent entity's estate in receivership, insolvency, liquidation, or similar proceeding. Basis derivative contract means a non-foreign-exchange derivative contract (i.e., the contract is denominated in a single currency) in which the cash flows of the derivative contract depend on the difference between two risk factors that are attributable solely to one of the following derivative asset classes: Interest rate, credit, equity, or commodity. Board means the Board of Governors of the Federal Reserve System. Board-regulated institution means a state member bank, bank holding company, or savings and loan holding company. Call Report means Consolidated Reports of Condition and Income. Carrying value means, with respect to an asset, the value of the asset on the balance sheet of a Board-regulated institution as determined in accordance with GAAP. For all assets other than available- for-sale debt securities or purchased credit deteriorated assets, the carrying value is not reduced by any associated credit loss allowance that is determined in accordance with GAAP. Category II Board-regulated institution means: (1) A depository institution holding company that is identified as a Category II banking organization pursuant to 12 CFR 252.5 or 12 CFR 238.10, as applicable; (2) A U.S. intermediate holding company that is identified as a Category II banking organization pursuant to 12 CFR 252.5; (3) A state member bank that is a subsidiary of a company identified in paragraph (1) of this definition; or (4) A state member bank that: (i) Is not a subsidiary of a depository institution holding company; and (ii)(A) Has total consolidated assets, calculated based on the average of the state member bank's total consolidated assets for the four most recent calendar quarters as reported on the Call Report, equal to $700 billion or more. If the state member bank has not filed the Call Report for each of the four most recent calendar quarters, total consolidated assets is calculated based on its total consolidated assets, as reported on the Call Report, for the most recent quarter or average of the most recent quarters, as applicable; or (B) Has: (1) Total consolidated assets, calculated based on the average of the state member bank's total consolidated assets for the four most recent calendar quarters as reported on the Call Report, of $100 billion or more but less than $700 billion. If the state member bank has not filed the Call Report for [[Page 414]] each of the four most recent quarters, total consolidated assets is based on its total consolidated assets, as reported on the Call Report, for the most recent quarter or average of the most recent quarters, as applicable; and (2) Cross-jurisdictional activity, calculated based on the average of its cross-jurisdictional activity for the four most recent calendar quarters, of $75 billion or more. Cross-jurisdictional activity is the sum of cross-jurisdictional claims and cross-jurisdictional liabilities, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form. (iii) After meeting the criteria in paragraph (4)(i) of this section, a state member bank continues to be a Category II Board- regulated institution until the state member bank: (A) Has: (1) Less than $700 billion in total consolidated assets, as reported on the Call Report, for each of the four most recent calendar quarters; and (2) Less than $75 billion in cross-jurisdictional activity for each of the four most recent calendar quarters. Cross-jurisdictional activity is the sum of cross-jurisdictional claims and cross-jurisdictional liabilities, calculated in accordance with the instructions to the FR Y- 15 or equivalent reporting form; or (B) Has less than $100 billion in total consolidated assets, as reported on the Call Report, for each of the four most recent calendar quarters. Category III Board-regulated institution means: (1) A depository institution holding company that is identified as a Category III banking organization pursuant to 12 CFR 252.5 or 12 CFR 238.10, as applicable; (2) A U.S. intermediate holding company that is identified as a Category III banking organization pursuant to 12 CFR 252.5; (3) A state member bank that is a subsidiary of a company identified in paragraph (1) of this definition; (4) A depository institution that: (i) Is not a subsidiary of a depository institution holding company; (ii)(A) Has total consolidated assets, calculated based on the average of the state member bank's total consolidated assets for the four most recent calendar quarters as reported on the Call Report, equal to $250 billion or more. If the state member bank has not filed the Call Report for each of the four most recent calendar quarters, total consolidated assets is calculated based on its total consolidated assets, as reported on the Call Report, for the most recent quarter or average of the most recent quarters, as applicable; or (B) Has: (1) Total consolidated assets, calculated based on the average of the state member bank's total consolidated assets for the four most recent calendar quarters as reported on the Call Report, of $100 billion or more but less than $250 billion. If the state member bank has not filed the Call Report for each of the four most recent calendar quarters, total consolidated assets is calculated based its total consolidated assets, as reported on the Call Report, for the most recent quarter or average of the most recent quarters, as applicable; and (2) At least one of the following in paragraphs (4)(i)(B)(2)(i) through (iii) of this definition, each calculated as the average of the four most recent calendar quarters: (i) Total nonbank assets, calculated in accordance with the instructions to the FR Y-9LP or equivalent reporting form, equal to $75 billion or more; (ii) Off-balance sheet exposure equal to $75 billion or more. Off- balance sheet exposure is a state member bank's total exposure, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form, minus the total consolidated assets of the state member bank, as reported on the Call Report; or (iii) Weighted short-term wholesale funding, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form, equal to $75 billion or more; or (iii) [Reserved] (iv) After meeting the criteria in paragraph (4)(ii) of this definition, a state member bank continues to be a Category III Board- regulated institution until the state member bank: (A) Has: (1) Less than $250 billion in total consolidated assets, as reported on the [[Page 415]] Call Report, for each of the four most recent calendar quarters; (2) Less than $75 billion in total nonbank assets, calculated in accordance with the instructions to the FR Y-9LP or equivalent reporting form, for each of the four most recent calendar quarters; (3) Less than $75 billion in weighted short-term wholesale funding, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form, for each of the four most recent calendar quarters; and (4) Less than $75 billion in off-balance sheet exposure for each of the four most recent calendar quarters. Off-balance sheet exposure is a state member bank's total exposure, calculated in accordance with the instructions to the FR Y-15 or equivalent reporting form, minus the total consolidated assets of the state member bank, as reported on the Call Report; or (B) Has less than $100 billion in total consolidated assets, as reported on the Call Report, for each of the four most recent calendar quarters; or (C) Is a Category II Board-regulated institution. Central counterparty (CCP) means a counterparty (for example, a clearing house) that facilitates trades between counterparties in one or more financial markets by either guaranteeing trades or novating contracts. CFTC means the U.S. Commodity Futures Trading Commission. Clean-up call means a contractual provision that permits an originating Board-regulated institution or servicer to call securitization exposures before their stated maturity or call date. Cleared transaction means an exposure associated with an outstanding derivative contract or repo-style transaction that a Board-regulated institution or clearing member has entered into with a central counterparty (that is, a transaction that a central counterparty has accepted). (1) The following transactions are cleared transactions: (i) A transaction between a CCP and a Board-regulated institution that is a clearing member of the CCP where the Board-regulated institution enters into the transaction with the CCP for the Board- regulated institution's own account; (ii) A transaction between a CCP and a Board-regulated institution that is a clearing member of the CCP where the Board-regulated institution is acting as a financial intermediary on behalf of a clearing member client and the transaction offsets another transaction that satisfies the requirements set forth in Sec. 217.3(a); (iii) A transaction between a clearing member client Board-regulated institution and a clearing member where the clearing member acts as a financial intermediary on behalf of the clearing member client and enters into an offsetting transaction with a CCP, provided that the requirements set forth in Sec. 217.3(a) are met; or (iv) A transaction between a clearing member client Board-regulated institution and a CCP where a clearing member guarantees the performance of the clearing member client Board-regulated institution to the CCP and the transaction meets the requirements of Sec. 217.3(a)(2) and (3). (2) The exposure of a Board-regulated institution that is a clearing member to its clearing member client is not a cleared transaction where the Board-regulated institution is either acting as a financial intermediary and enters into an offsetting transaction with a CCP or where the Board-regulated institution provides a guarantee to the CCP on the performance of the client.\3\ --------------------------------------------------------------------------- \3\ For the standardized approach treatment of these exposures, see Sec. 217.34(e) (OTC derivative contracts) or Sec. 217.37(c) (repo- style transactions). For the advanced approaches treatment of these exposures, see Sec. Sec. 217.132(c)(8) and (d) (OTC derivative contracts) or Sec. Sec. 217.132(b) and Sec. 217.132(d) (repo-style transactions) and for calculation of the margin period of risk, see Sec. Sec. 217.132(d)(5)(iii)(C) (OTC derivative contracts) and Sec. 217.132(d)(5)(iii)(A) (repo-style transactions). --------------------------------------------------------------------------- Clearing member means a member of, or direct participant in, a CCP that is entitled to enter into transactions with the CCP. Clearing member client means a party to a cleared transaction associated with a CCP in which a clearing member acts either as a financial intermediary with respect to the party or guarantees [[Page 416]] the performance of the party to the CCP. Client-facing derivative transaction means a derivative contract that is not a cleared transaction where the Board-regulated institution is either acting as a financial intermediary and enters into an offsetting transaction with a qualifying central counterparty (QCCP) or where the Board-regulated institution provides a guarantee on the performance of a client on a transaction between the client and a QCCP. Collateral agreement means a legal contract that specifies the time when, and circumstances under which, a counterparty is required to pledge collateral to a Board-regulated institution for a single financial contract or for all financial contracts in a netting set and confers upon the Board-regulated institution a perfected, first-priority security interest (notwithstanding the prior security interest of any custodial agent), or the legal equivalent thereof, in the collateral posted by the counterparty under the agreement. This security interest must provide the Board-regulated institution with a right to close-out the financial positions and liquidate the collateral upon an event of default of, or failure to perform by, the counterparty under the collateral agreement. A contract would not satisfy this requirement if the Board-regulated institution's exercise of rights under the agreement may be stayed or avoided: (1) Under applicable law in the relevant jurisdictions, other than: (i) In receivership, conservatorship, or resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs, or laws of foreign jurisdictions that are substantially similar \4\ to the U.S. laws referenced in this paragraph (1)(i) in order to facilitate the orderly resolution of the defaulting counterparty; --------------------------------------------------------------------------- \4\ The Board expects to evaluate jointly with the OCC and Federal Deposit Insurance Corporation whether foreign special resolution regimes meet the requirements of this paragraph. --------------------------------------------------------------------------- (ii) Where the agreement is subject by its terms to, or incorporates, any of the laws referenced in paragraph (1)(i) of this definition; or (2) Other than to the extent necessary for the counterparty to comply with the requirements of subpart I of the Board's Regulation YY (part 252 of this chapter), part 47 of this title, or part 382 of this title, as applicable. Commercial end-user means an entity that: (1)(i) Is using derivative contracts to hedge or mitigate commercial risk; and (ii)(A) Is not an entity described in section 2(h)(7)(C)(i)(I) through (VIII) of the Commodity Exchange Act (7 U.S.C. 2(h)(7)(C)(i)(I) through (VIII)); or (B) Is not a ``financial entity'' for purposes of section 2(h)(7) of the Commodity Exchange Act (7 U.S.C. 2(h)) by virtue of section 2(h)(7)(C)(iii) of the Act (7 U.S.C. 2(h)(7)(C)(iii)); or (2)(i) Is using derivative contracts to hedge or mitigate commercial risk; and (ii) Is not an entity described in section 3C(g)(3)(A)(i) through (viii) of the Securities Exchange Act of 1934 (15 U.S.C. 78c- 3(g)(3)(A)(i) through (viii)); or (3) Qualifies for the exemption in section 2(h)(7)(A) of the Commodity Exchange Act (7 U.S.C. 2(h)(7)(A)) by virtue of section 2(h)(7)(D) of the Act (7 U.S.C. 2(h)(7)(D)); or (4) Qualifies for an exemption in section 3C(g)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78c-3(g)(1)) by virtue of section 3C(g)(4) of the Act (15 U.S.C. 78c-3(g)(4)). Commitment means any legally binding arrangement that obligates a Board-regulated institution to extend credit or to purchase assets. Commodity derivative contract means a commodity-linked swap, purchased commodity-linked option, forward commodity-linked contract, or any other instrument linked to commodities that gives rise to similar counterparty credit risks. Commodity Exchange Act means the Commodity Exchange Act of 1936 (7 U.S.C. 1 et seq.) Common equity tier 1 capital is defined in Sec. 217.20(b). Common equity tier 1 minority interest means the common equity tier 1 capital of a depository institution or foreign bank that is: (1) A consolidated subsidiary of a Board-regulated institution; and [[Page 417]] (2) Not owned by the Board-regulated institution. Company means a corporation, partnership, limited liability company, depository institution, business trust, special purpose entity, association, or similar organization. Control. A person or company controls a company if it: (1) Owns, controls, or holds with power to vote 25 percent or more of a class of voting securities of the company; or (2) Consolidates the company for financial reporting purposes. Corporate exposure means an exposure to a company that is not: (1) An exposure to a sovereign, the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, a multi-lateral development bank (MDB), a depository institution, a foreign bank, a credit union, or a public sector entity (PSE); (2) An exposure to a GSE; (3) A residential mortgage exposure; (4) A pre-sold construction loan; (5) A statutory multifamily mortgage; (6) A high volatility commercial real estate (HVCRE) exposure; (7) A cleared transaction; (8) A default fund contribution; (9) A securitization exposure; (10) An equity exposure; or (11) An unsettled transaction. (12) A policy loan; (13) A separate account; or (14) A Paycheck Protection Program covered loan as defined in section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)). Country risk classification (CRC) with respect to a sovereign, means the most recent consensus CRC published by the Organization for Economic Cooperation and Development (OECD) as of December 31st of the prior calendar year that provides a view of the likelihood that the sovereign will service its external debt. Covered debt instrument means an unsecured debt instrument that is: (1) Issued by a global systemically important BHC and that is an eligible debt security, as defined in 12 CFR 252.61, or that is pari passu or subordinated to any eligible debt security issued by the global systemically important BHC; or (2) Issued by a Covered IHC, as defined in 12 CFR 252.161, and that is an eligible Covered IHC debt security, as defined in 12 CFR 252.161, or that is pari passu or subordinated to any eligible Covered IHC debt security issued by the Covered IHC; or (3) Issued by a global systemically important banking organization, as defined in 12 CFR 252.2 other than a global systemically important BHC; or issued by a subsidiary of a global systemically important banking organization that is not a global systemically important BHC, other than a Covered IHC, as defined in 12 CFR 252.161; and where, (i) The instrument is eligible for use to comply with an applicable law or regulation requiring the issuance of a minimum amount of instruments to absorb losses or recapitalize the issuer or any of its subsidiaries in connection with a resolution, receivership, insolvency, or similar proceeding of the issuer or any of its subsidiaries; or (ii) The instrument is pari passu or subordinated to any instrument described in paragraph (3)(i) of this definition; for purposes of this paragraph (3)(ii) of this definition, if the issuer may be subject to a special resolution regime, in its jurisdiction of incorporation or organization, that addresses the failure or potential failure of a financial company and any instrument described in paragraph (3)(i) of this definition is eligible under that special resolution regime to be written down or converted into equity or any other capital instrument, then an instrument is pari passu or subordinated to any instrument described in paragraph (3)(i) of this definition if that instrument is eligible under that special resolution regime to be written down or converted into equity or any other capital instrument ahead of or proportionally with any instrument described in paragraph (3)(i) of this definition; and (4) Provided that, for purposes of this definition, covered debt instrument does not include a debt instrument that qualifies as tier 2 capital pursuant to 12 CFR 217.20(d) or that is otherwise [[Page 418]] treated as regulatory capital by the primary supervisor of the issuer. Covered savings and loan holding company means a top-tier savings and loan holding company other than an institution that-- (1) Meets the requirements of section 10(c)(9)(C) of the Home Owners' Loan Act (12 U.S.C. 1467a(c)(9)(C)); and (2) As of June 30 of the previous calendar year, derived 50 percent or more of its total consolidated assets or 50 percent of its total revenues on an enterprise-wide basis (as calculated under GAAP) from activities that are not financial in nature under section 4(k) of the Bank Holding Company Act (12 U.S.C. 1843(k)). Credit derivative means a financial contract executed under standard industry credit derivative documentation that allows one party (the protection purchaser) to transfer the credit risk of one or more exposures (reference exposure(s)) to another party (the protection provider) for a certain period of time. Credit-enhancing interest-only strip (CEIO) means an on-balance sheet asset that, in form or in substance: (1) Represents a contractual right to receive some or all of the interest and no more than a minimal amount of principal due on the underlying exposures of a securitization; and (2) Exposes the holder of the CEIO to credit risk directly or indirectly associated with the underlying exposures that exceeds a pro rata share of the holder's claim on the underlying exposures, whether through subordination provisions or other credit-enhancement techniques. Credit-enhancing representations and warranties means representations and warranties that are made or assumed in connection with a transfer of underlying exposures (including loan servicing assets) and that obligate a Board-regulated institution to protect another party from losses arising from the credit risk of the underlying exposures. Credit-enhancing representations and warranties include provisions to protect a party from losses resulting from the default or nonperformance of the counterparties of the underlying exposures or from an insufficiency in the value of the collateral backing the underlying exposures. Credit-enhancing representations and warranties do not include: (1) Early default clauses and similar warranties that permit the return of, or premium refund clauses covering, 1-4 family residential first mortgage loans that qualify for a 50 percent risk weight for a period not to exceed 120 days from the date of transfer. These warranties may cover only those loans that were originated within 1 year of the date of transfer; (2) Premium refund clauses that cover assets guaranteed, in whole or in part, by the U.S. Government, a U.S. Government agency or a GSE, provided the premium refund clauses are for a period not to exceed 120 days from the date of transfer; or (3) Warranties that permit the return of underlying exposures in instances of misrepresentation, fraud, or incomplete documentation. Credit risk mitigant means collateral, a credit derivative, or a guarantee. Credit-risk-weighted assets means 1.06 multiplied by the sum of: (1) Total wholesale and retail risk-weighted assets as calculated under Sec. 217.131; (2) Risk-weighted assets for securitization exposures as calculated under Sec. 217.142; and (3) Risk-weighted assets for equity exposures as calculated under Sec. 217.151. Credit union means an insured credit union as defined under the Federal Credit Union Act (12 U.S.C. 1752 et seq.). Current Expected Credit Losses (CECL) means the current expected credit losses methodology under GAAP. Current exposure means, with respect to a netting set, the larger of zero or the fair value of a transaction or portfolio of transactions within the netting set that would be lost upon default of the counterparty, assuming no recovery on the value of the transactions. Current exposure methodology means the method of calculating the exposure amount for over-the-counter derivative contracts in Sec. 217.34(b). Custodial banking organization means: (1) A Board-regulated institution that is: (i) A top-tier depository institution holding company domiciled in the United States that has assets under [[Page 419]] custody that are at least 30 times the amount of the depository institution holding company's total assets; or (ii) A state member bank that is a subsidiary of a depository institution holding company described in paragraph (1)(i) of this definition. (2) For purposes of this definition, total assets are equal to the average of the banking organization's total consolidated assets for the four most recent calendar quarters. Assets under custody are equal to the average of the Board-regulated institution's assets under custody for the four most recent calendar quarters. Custodian means a financial institution that has legal custody of collateral provided to a CCP. Default fund contribution means the funds contributed or commitments made by a clearing member to a CCP's mutualized loss sharing arrangement. Depository institution means a depository institution as defined in section 3 of the Federal Deposit Insurance Act. Depository institution holding company means a bank holding company or savings and loan holding company. Derivative contract means a financial contract whose value is derived from the values of one or more underlying assets, reference rates, or indices of asset values or reference rates. Derivative contracts include interest rate derivative contracts, exchange rate derivative contracts, equity derivative contracts, commodity derivative contracts, credit derivative contracts, and any other instrument that poses similar counterparty credit risks. Derivative contracts also include unsettled securities, commodities, and foreign exchange transactions with a contractual settlement or delivery lag that is longer than the lesser of the market standard for the particular instrument or five business days. Discretionary bonus payment means a payment made to an executive officer of a Board-regulated institution, where: (1) The Board-regulated institution retains discretion as to whether to make, and the amount of, the payment until the payment is awarded to the executive officer; (2) The amount paid is determined by the Board-regulated institution without prior promise to, or agreement with, the executive officer; and (3) The executive officer has no contractual right, whether express or implied, to the bonus payment. Distribution means: (1) A reduction of tier 1 capital through the repurchase of a tier 1 capital instrument or by other means, except when a Board-regulated institution, within the same quarter when the repurchase is announced, fully replaces a tier 1 capital instrument it has repurchased by issuing another capital instrument that meets the eligibility criteria for: (i) A common equity tier 1 capital instrument if the instrument being repurchased was part of the Board-regulated institution's common equity tier 1 capital, or (ii) A common equity tier 1 or additional tier 1 capital instrument if the instrument being repurchased was part of the Board-regulated institution's tier 1 capital; (2) A reduction of tier 2 capital through the repurchase, or redemption prior to maturity, of a tier 2 capital instrument or by other means, except when a Board-regulated institution, within the same quarter when the repurchase or redemption is announced, fully replaces a tier 2 capital instrument it has repurchased by issuing another capital instrument that meets the eligibility criteria for a tier 1 or tier 2 capital instrument; (3) A dividend declaration or payment on any tier 1 capital instrument; (4) A dividend declaration or interest payment on any tier 2 capital instrument if the Board-regulated institution has full discretion to permanently or temporarily suspend such payments without triggering an event of default; or (5) Any similar transaction that the Board determines to be in substance a distribution of capital. Dodd-Frank Act means the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Pub. L. 111-203, 124 Stat. 1376). Early amortization provision means a provision in the documentation governing a securitization that, when triggered, causes investors in the securitization exposures to be repaid [[Page 420]] before the original stated maturity of the securitization exposures, unless the provision: (1) Is triggered solely by events not directly related to the performance of the underlying exposures or the originating Board- regulated institution (such as material changes in tax laws or regulations); or (2) Leaves investors fully exposed to future draws by borrowers on the underlying exposures even after the provision is triggered. Effective notional amount means for an eligible guarantee or eligible credit derivative, the lesser of the contractual notional amount of the credit risk mitigant and the exposure amount (or EAD for purposes of subpart E of this part) of the hedged exposure, multiplied by the percentage coverage of the credit risk mitigant. Eligible ABCP liquidity facility means a liquidity facility supporting ABCP, in form or in substance, that is subject to an asset quality test at the time of draw that precludes funding against assets that are 90 days or more past due or in default. Notwithstanding the preceding sentence, a liquidity facility is an eligible ABCP liquidity facility if the assets or exposures funded under the liquidity facility that do not meet the eligibility requirements are guaranteed by a sovereign that qualifies for a 20 percent risk weight or lower. Eligible clean-up call means a clean-up call that: (1) Is exercisable solely at the discretion of the originating Board-regulated institution or servicer; (2) Is not structured to avoid allocating losses to securitization exposures held by investors or otherwise structured to provide credit enhancement to the securitization; and (3)(i) For a traditional securitization, is only exercisable when 10 percent or less of the principal amount of the underlying exposures or securitization exposures (determined as of the inception of the securitization) is outstanding; or (ii) For a synthetic securitization, is only exercisable when 10 percent or less of the principal amount of the reference portfolio of underlying exposures (determined as of the inception of the securitization) is outstanding. Eligible credit derivative means a credit derivative in the form of a credit default swap, n\th\-to-default swap, total return swap, or any other form of credit derivative approved by the Board, provided that: (1) The contract meets the requirements of an eligible guarantee and has been confirmed by the protection purchaser and the protection provider; (2) Any assignment of the contract has been confirmed by all relevant parties; (3) If the credit derivative is a credit default swap or n\th\-to- default swap, the contract includes the following credit events: (i) Failure to pay any amount due under the terms of the reference exposure, subject to any applicable minimal payment threshold that is consistent with standard market practice and with a grace period that is closely in line with the grace period of the reference exposure; and (ii) Receivership, insolvency, liquidation, conservatorship or inability of the reference exposure issuer to pay its debts, or its failure or admission in writing of its inability generally to pay its debts as they become due, and similar events; (4) The terms and conditions dictating the manner in which the contract is to be settled are incorporated into the contract; (5) If the contract allows for cash settlement, the contract incorporates a robust valuation process to estimate loss reliably and specifies a reasonable period for obtaining post-credit event valuations of the reference exposure; (6) If the contract requires the protection purchaser to transfer an exposure to the protection provider at settlement, the terms of at least one of the exposures that is permitted to be transferred under the contract provide that any required consent to transfer may not be unreasonably withheld; (7) If the credit derivative is a credit default swap or n\th\-to- default swap, the contract clearly identifies the parties responsible for determining whether a credit event has occurred, specifies that this determination is not the sole [[Page 421]] responsibility of the protection provider, and gives the protection purchaser the right to notify the protection provider of the occurrence of a credit event; and (8) If the credit derivative is a total return swap and the Board- regulated institution records net payments received on the swap as net income, the Board-regulated institution records offsetting deterioration in the value of the hedged exposure (either through reductions in fair value or by an addition to reserves). Eligible credit reserves means: (1) For a Board-regulated institution that has not adopted CECL, all general allowances that have been established through a charge against earnings to cover estimated credit losses associated with on- or off- balance sheet wholesale and retail exposures, including the ALLL associated with such exposures, but excluding allocated transfer risk reserves established pursuant to 12 U.S.C. 3904 and other specific reserves created against recognized losses; and (2) For a Board-regulated institution that has adopted CECL, all general allowances that have been established through a charge against earnings or retained earnings to cover expected credit losses associated with on- or off-balance sheet wholesale and retail exposures, including AACL associated with such exposures. Eligible credit reserves exclude allocated transfer risk reserves established pursuant to 12 U.S.C. 3904, allowances that reflect credit losses on purchased credit deteriorated assets and available-for-sale debt securities, and other specific reserves created against recognized losses. Eligible guarantee means a guarantee that: (1) Is written; (2) Is either: (i) Unconditional, or (ii) A contingent obligation of the U.S. government or its agencies, the enforceability of which is dependent upon some affirmative action on the part of the beneficiary of the guarantee or a third party (for example, meeting servicing requirements); (3) Covers all or a pro rata portion of all contractual payments of the obligated party on the reference exposure; (4) Gives the beneficiary a direct claim against the protection provider; (5) Is not unilaterally cancelable by the protection provider for reasons other than the breach of the contract by the beneficiary; (6) Except for a guarantee by a sovereign, is legally enforceable against the protection provider in a jurisdiction where the protection provider has sufficient assets against which a judgment may be attached and enforced; (7) Requires the protection provider to make payment to the beneficiary on the occurrence of a default (as defined in the guarantee) of the obligated party on the reference exposure in a timely manner without the beneficiary first having to take legal actions to pursue the obligor for payment; (8) Does not increase the beneficiary's cost of credit protection on the guarantee in response to deterioration in the credit quality of the reference exposure; (9) Is not provided by an affiliate of the Board-regulated institution, unless the affiliate is an insured depository institution, foreign bank, securities broker or dealer, or insurance company that: (i) Does not control the Board-regulated institution; and (ii) Is subject to consolidated supervision and regulation comparable to that imposed on depository institutions, U.S. securities broker-dealers, or U.S. insurance companies (as the case may be); and (10) For purposes of Sec. Sec. 217.141 through 217.145 and subpart D of this part, is provided by an eligible guarantor. Eligible guarantor means: (1) A sovereign, the Bank for International Settlements, the International Monetary Fund, the European Central Bank, the European Commission, a Federal Home Loan Bank, Federal Agricultural Mortgage Corporation (Farmer Mac), the European Stability Mechanism, the European Financial Stability Facility, a multilateral development bank (MDB), a depository institution, a bank holding company, a savings and loan holding company, a [[Page 422]] credit union, a foreign bank, or a qualifying central counterparty; or (2) An entity (other than a special purpose entity): (i) That at the time the guarantee is issued or anytime thereafter, has issued and outstanding an unsecured debt security without credit enhancement that is investment grade; (ii) Whose creditworthiness is not positively correlated with the credit risk of the exposures for which it has provided guarantees; and (iii) That is not an insurance company engaged predominately in the business of providing credit protection (such as a monoline bond insurer or re-insurer). Eligible margin loan means: (1) An extension of credit where: (i) The extension of credit is collateralized exclusively by liquid and readily marketable debt or equity securities, or gold; (ii) The collateral is marked-to-fair value daily, and the transaction is subject to daily margin maintenance requirements; and (iii) The extension of credit is conducted under an agreement that provides the Board-regulated institution the right to accelerate and terminate the extension of credit and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, insolvency, liquidation, conservatorship, or similar proceeding, of the counterparty, provided that, in any such case: (A) Any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than: (1) In receivership, conservatorship, or resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs,\5\ or laws of foreign jurisdictions that are substantially similar \6\ to the U.S. laws referenced in this paragraph (1)(iii)(A)(1) in order to facilitate the orderly resolution of the defaulting counterparty; or --------------------------------------------------------------------------- \5\ This requirement is met where all transactions under the agreement are (i) executed under U.S. law and (ii) constitute ``securities contracts'' under section 555 of the Bankruptcy Code (11 U.S.C. 555), qualified financial contracts under section 11(e)(8) of the Federal Deposit Insurance Act, or netting contracts between or among financial institutions under sections 401-407 of the Federal Deposit Insurance Corporation Improvement Act or the Federal Reserve Board's Regulation EE (12 CFR part 231). \6\ The Board expects to evaluate jointly with the OCC and Federal Deposit Insurance Corporation whether foreign special resolution regimes meet the requirements of this paragraph. --------------------------------------------------------------------------- (2) Where the agreement is subject by its terms to, or incorporates, any of the laws referenced in paragraph (1)(iii)(A)(1) of this definition; and (B) The agreement may limit the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default of the counterparty to the extent necessary for the counterparty to comply with the requirements of subpart I of the Board's Regulation YY (part 252 of this chapter), part 47 of this title, or part 382 of this title, as applicable. (2) In order to recognize an exposure as an eligible margin loan for purposes of this subpart, a Board-regulated institution must comply with the requirements of Sec. 217.3(b) with respect to that exposure. Eligible servicer cash advance facility means a servicer cash advance facility in which: (1) The servicer is entitled to full reimbursement of advances, except that a servicer may be obligated to make non-reimbursable advances for a particular underlying exposure if any such advance is contractually limited to an insignificant amount of the outstanding principal balance of that exposure; (2) The servicer's right to reimbursement is senior in right of payment to all other claims on the cash flows from the underlying exposures of the securitization; and (3) The servicer has no legal obligation to, and does not make advances to the securitization if the servicer concludes the advances are unlikely to be repaid. Employee stock ownership plan has the same meaning as in 29 CFR 2550.407d-6. [[Page 423]] Equity derivative contract means an equity-linked swap, purchased equity-linked option, forward equity-linked contract, or any other instrument linked to equities that gives rise to similar counterparty credit risks. Equity exposure means: (1) A security or instrument (whether voting or non-voting) that represents a direct or an indirect ownership interest in, and is a residual claim on, the assets and income of a company, unless: (i) The issuing company is consolidated with the Board-regulated institution under GAAP; (ii) The Board-regulated institution is required to deduct the ownership interest from tier 1 or tier 2 capital under this part; (iii) The ownership interest incorporates a payment or other similar obligation on the part of the issuing company (such as an obligation to make periodic payments); or (iv) The ownership interest is a securitization exposure; (2) A security or instrument that is mandatorily convertible into a security or instrument described in paragraph (1) of this definition; (3) An option or warrant that is exercisable for a security or instrument described in paragraph (1) of this definition; or (4) Any other security or instrument (other than a securitization exposure) to the extent the return on the security or instrument is based on the performance of a security or instrument described in paragraph (1) of this definition. ERISA means the Employee Retirement Income and Security Act of 1974 (29 U.S.C. 1001 et seq.). Exchange rate derivative contract means a cross-currency interest rate swap, forward foreign-exchange contract, currency option purchased, or any other instrument linked to exchange rates that gives rise to similar counterparty credit risks. Excluded covered debt instrument means an investment in a covered debt instrument held by a global systemically important BHC or a Board- regulated institution that is a subsidiary of a global systemically important BHC that: (1) Is held in connection with market making-related activities permitted under 12 CFR 248.4, provided that a direct exposure or an indirect exposure to a covered debt instrument is held for 30 business days or less; and (2) Has been designated as an excluded covered debt instrument by the global systemically important BHC or the subsidiary of a global systemically important BHC pursuant to 12 CFR 217.22(c)(5)(iv)(A). Executive officer means a person who holds the title or, without regard to title, salary, or compensation, performs the function of one or more of the following positions: President, chief executive officer, executive chairman, chief operating officer, chief financial officer, chief investment officer, chief legal officer, chief lending officer, chief risk officer, or head of a major business line, and other staff that the board of directors of the Board-regulated institution deems to have equivalent responsibility. Expected credit loss (ECL) means: (1) For a wholesale exposure to a non-defaulted obligor or segment of non-defaulted retail exposures that is carried at fair value with gains and losses flowing through earnings or that is classified as held- for-sale and is carried at the lower of cost or fair value with losses flowing through earnings, zero. (2) For all other wholesale exposures to non-defaulted obligors or segments of non-defaulted retail exposures, the product of the probability of default (PD) times the loss given default (LGD) times the exposure at default (EAD) for the exposure or segment. (3) For a wholesale exposure to a defaulted obligor or segment of defaulted retail exposures, the Board-regulated institution's impairment estimate for allowance purposes for the exposure or segment. (4) Total ECL is the sum of expected credit losses for all wholesale and retail exposures other than exposures for which the Board-regulated institution has applied the double default treatment in Sec. 217.135. Exposure amount means: (1) For the on-balance sheet component of an exposure (other than an available-for-sale or held-to-maturity [[Page 424]] security, if the Board-regulated institution has made an AOCI opt-out election (as defined in Sec. 217.22(b)(2)); an OTC derivative contract; a repo-style transaction or an eligible margin loan for which the Board- regulated institution determines the exposure amount under Sec. 217.37; a cleared transaction; a default fund contribution; or a securitization exposure), the Board-regulated institution's carrying value of the exposure. (2) For a security (that is not a securitization exposure, equity exposure, or preferred stock classified as an equity security under GAAP) classified as available-for-sale or held-to-maturity if the Board- regulated institution has made an AOCI opt-out election (as defined in Sec. 217.22(b)(2)), the Board-regulated institution's carrying value (including net accrued but unpaid interest and fees) for the exposure less any net unrealized gains on the exposure and plus any net unrealized losses on the exposure. (3) For available-for-sale preferred stock classified as an equity security under GAAP if the Board-regulated institution has made an AOCI opt-out election (as defined in Sec. 217.22(b)(2)), the Board-regulated institution's carrying value of the exposure less any net unrealized gains on the exposure that are reflected in such carrying value but excluded from the Board-regulated institution's regulatory capital components. (4) For the off-balance sheet component of an exposure (other than an OTC derivative contract; a repo-style transaction or an eligible margin loan for which the Board-regulated institution calculates the exposure amount under Sec. 217.37; a cleared transaction; a default fund contribution; or a securitization exposure), the notional amount of the off-balance sheet component multiplied by the appropriate credit conversion factor (CCF) in Sec. 217.33. (5) For an exposure that is an OTC derivative contract, the exposure amount determined under Sec. 217.34. (6) For an exposure that is a cleared transaction, the exposure amount determined under Sec. 217.35. (7) For an exposure that is an eligible margin loan or repo-style transaction for which the bank calculates the exposure amount as provided in Sec. 217.37, the exposure amount determined under Sec. 217.37. (8) For an exposure that is a securitization exposure, the exposure amount determined under Sec. 217.42. Federal Deposit Insurance Act means the Federal Deposit Insurance Act (12 U.S.C. 1813). Federal Deposit Insurance Corporation Improvement Act means the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 4401). Fiduciary or custodial and safekeeping account means, for purposes of Sec. 217.10(c)(2)(x), an account administered by a custodial banking organization for which the custodial banking organization provides fiduciary or custodial and safekeeping services, as authorized by applicable Federal or state law. Financial collateral means collateral: (1) In the form of: (i) Cash on deposit with the Board-regulated institution (including cash held for the Board-regulated institution by a third-party custodian or trustee); (ii) Gold bullion; (iii) Long-term debt securities that are not resecuritization exposures and that are investment grade; (iv) Short-term debt instruments that are not resecuritization exposures and that are investment grade; (v) Equity securities that are publicly traded; (vi) Convertible bonds that are publicly traded; or (vii) Money market fund shares and other mutual fund shares if a price for the shares is publicly quoted daily; and (2) In which the Board-regulated institution has a perfected, first- priority security interest or, outside of the United States, the legal equivalent thereof, (with the exception of cash on deposit; and notwithstanding the prior security interest of any custodial agent or any priority security interest granted to a CCP in connection with collateral posted to that CCP). Financial institution means: (1) A bank holding company; savings and loan holding company; nonbank financial institution supervised by the Board under Title I of the Dodd-Frank Act; depository institution; foreign bank; credit union; industrial loan [[Page 425]] company, industrial bank, or other similar institution described in section 2 of the Bank Holding Company Act; national association, state member bank, or state non-member bank that is not a depository institution; insurance company; securities holding company as defined in section 618 of the Dodd-Frank Act; broker or dealer registered with the SEC under section 15 of the Securities Exchange Act; futures commission merchant as defined in section 1a of the Commodity Exchange Act; swap dealer as defined in section 1a of the Commodity Exchange Act; or security-based swap dealer as defined in section 3 of the Securities Exchange Act; (2) Any designated financial market utility, as defined in section 803 of the Dodd-Frank Act; (3) Any entity not domiciled in the United States (or a political subdivision thereof) that is supervised and regulated in a manner similar to entities described in paragraphs (1) or (2) of this definition; or (4) Any other company: (i) Of which the Board-regulated institution owns: (A) An investment in GAAP equity instruments of the company with an adjusted carrying value or exposure amount equal to or greater than $10 million; or (B) More than 10 percent of the company's issued and outstanding common shares (or similar equity interest), and (ii) Which is predominantly engaged in the following activities: (A) Lending money, securities or other financial instruments, including servicing loans; (B) Insuring, guaranteeing, indemnifying against loss, harm, damage, illness, disability, or death, or issuing annuities; (C) Underwriting, dealing in, making a market in, or investing as principal in securities or other financial instruments; or (D) Asset management activities (not including investment or financial advisory activities). (5) For the purposes of this definition, a company is ``predominantly engaged'' in an activity or activities if: (i) 85 percent or more of the total consolidated annual gross revenues (as determined in accordance with applicable accounting standards) of the company is either of the two most recent calendar years were derived, directly or indirectly, by the company on a consolidated basis from the activities; or (ii) 85 percent or more of the company's consolidated total assets (as determined in accordance with applicable accounting standards) as of the end of either of the two most recent calendar years were related to the activities. (6) Any other company that the Board may determine is a financial institution based on activities similar in scope, nature, or operation to those of the entities included in paragraphs (1) through (4) of this definition. (7) For purposes of this part, ``financial institution'' does not include the following entities: (i) GSEs; (ii) Small business investment companies, as defined in section 102 of the Small Business Investment Act of 1958 (15 U.S.C. 662); (iii) Entities designated as Community Development Financial Institutions (CDFIs) under 12 U.S.C. 4701 et seq. and 12 CFR part 1805; (iv) Entities registered with the SEC under the Investment Company Act of 1940 (15 U.S.C. 80a-1) or foreign equivalents thereof; (v) Entities to the extent that the Board-regulated institution's investment in such entities would qualify as a community development investment under section 24 (Eleventh) of the National Bank Act; and (vi) An employee benefit plan as defined in paragraphs (3) and (32) of section 3 of ERISA, a ``governmental plan'' (as defined in 29 U.S.C. 1002(32)) that complies with the tax deferral qualification requirements provided in the Internal Revenue Code, or any similar employee benefit plan established under the laws of a foreign jurisdiction. First-lien residential mortgage exposure means a residential mortgage exposure secured by a first lien. Foreign bank means a foreign bank as defined in Sec. 211.2 of the Federal Reserve Board's Regulation K (12 CFR 211.2) (other than a depository institution). [[Page 426]] Forward agreement means a legally binding contractual obligation to purchase assets with certain drawdown at a specified future date, not including commitments to make residential mortgage loans or forward foreign exchange contracts. FR Y-9LP means the Parent Company Only Financial Statements for Large Holding Companies. FR Y-15 means the Systemic Risk Report. GAAP means generally accepted accounting principles as used in the United States. Gain-on-sale means an increase in the equity capital of a Board- regulated institution (as reported on [Schedule RC of the Call Report or Schedule HC of the FR Y-9C]) resulting from a traditional securitization (other than an increase in equity capital resulting from the Board- regulated institution's receipt of cash in connection with the securitization or reporting of a mortgage servicing asset on [Schedule RC of the Call Report or Schedule HC of the FRY-9C]). General obligation means a bond or similar obligation that is backed by the full faith and credit of a public sector entity (PSE). Global systemically important BHC means a bank holding company that is identified as a global systemically important BHC pursuant to Sec. 217.402. Government-sponsored enterprise (GSE) means an entity established or chartered by the U.S. government to serve public purposes specified by the U.S. Congress but whose debt obligations are not explicitly guaranteed by the full faith and credit of the U.S. government. GSIB surcharge means the capital surcharge applicable to a global systemically important BHC calculated pursuant to Sec. 217.403. Guarantee means a financial guarantee, letter of credit, insurance, or other similar financial instrument (other than a credit derivative) that allows one party (beneficiary) to transfer the credit risk of one or more specific exposures (reference exposure) to another party (protection provider). High volatility commercial real estate (HVCRE) exposure means: (1) A credit facility secured by land or improved real property that, prior to being reclassified by the Board-regulated institution as a non-HVCRE exposure pursuant to paragraph (6) of this definition-- (i) Primarily finances, has financed, or refinances the acquisition, development, or construction of real property; (ii) Has the purpose of providing financing to acquire, develop, or improve such real property into income-producing real property; and (iii) Is dependent upon future income or sales proceeds from, or refinancing of, such real property for the repayment of such credit facility. (2) An HVCRE exposure does not include a credit facility financing-- (i) The acquisition, development, or construction of properties that are-- (A) One- to four-family residential properties. Credit facilities that do not finance the construction of one- to four-family residential structures, but instead solely finance improvements such as the laying of sewers, water pipes, and similar improvements to land, do not qualify for the one- to four-family residential properties exclusion; (B) Real property that would qualify as an investment in community development; or (C) Agricultural land; (ii) The acquisition or refinance of existing income-producing real property secured by a mortgage on such property, if the cash flow being generated by the real property is sufficient to support the debt service and expenses of the real property, in accordance with the Board- regulated institution's applicable loan underwriting criteria for permanent financings; (iii) Improvements to existing income-producing improved real property secured by a mortgage on such property, if the cash flow being generated by the real property is sufficient to support the debt service and expenses of the real property, in accordance with the Board- regulated institution's applicable loan underwriting criteria for permanent financings; or (iv) Commercial real property projects in which-- [[Page 427]] (A) The loan-to-value ratio is less than or equal to the applicable maximum supervisory loan-to-value ratio as determined by the Board; (B) The borrower has contributed capital of at least 15 percent of the real property's appraised, `as completed' value to the project in the form of-- (1) Cash; (2) Unencumbered readily marketable assets; (3) Paid development expenses out-of-pocket; or (4) Contributed real property or improvements; and (C) The borrower contributed the minimum amount of capital described under paragraph (2)(iv)(B) of this definition before the Board-regulated institution advances funds (other than the advance of a nominal sum made in order to secure the Board-regulated institution's lien against the real property) under the credit facility, and such minimum amount of capital contributed by the borrower is contractually required to remain in the project until the HVCRE exposure has been reclassified by the Board-regulated institution as a non-HVCRE exposure under paragraph (6) of this definition; (3) An HVCRE exposure does not include any loan made prior to January 1, 2015; (4) An HVCRE exposure does not include a credit facility reclassified as a non-HVCRE exposure under paragraph (6) of this definition. (5) Value of contributed real property: For the purposes of this definition of HVCRE exposure, the value of any real property contributed by a borrower as a capital contribution is the appraised value of the property as determined under standards prescribed pursuant to section 1110 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 3339), in connection with the extension of the credit facility or loan to such borrower. (6) Reclassification as a non-HVCRE exposure: For purposes of this definition of HVCRE exposure and with respect to a credit facility and a Board-regulated institution, a Board-regulated institution may reclassify an HVCRE exposure as a non-HVCRE exposure upon-- (i) The substantial completion of the development or construction of the real property being financed by the credit facility; and (ii) Cash flow being generated by the real property being sufficient to support the debt service and expenses of the real property, in accordance with the Board-regulated institution's applicable loan underwriting criteria for permanent financings. (7) For purposes of this definition, a Board-regulated institution is not required to reclassify a credit facility that was originated on or after January 1, 2015 and prior to April 1, 2020. Home country means the country where an entity is incorporated, chartered, or similarly established. Independent collateral means financial collateral, other than variation margin, that is subject to a collateral agreement, or in which a Board-regulated institution has a perfected, first-priority security interest or, outside of the United States, the legal equivalent thereof (with the exception of cash on deposit; notwithstanding the prior security interest of any custodial agent or any prior security interest granted to a CCP in connection with collateral posted to that CCP), and the amount of which does not change directly in response to the value of the derivative contract or contracts that the financial collateral secures. Indirect exposure means an exposure that arises from the Board- regulated institution's investment in an investment fund which holds an investment in the Board-regulated institution's own capital instrument or an investment in the capital of an unconsolidated financial institution. For an advanced approaches Board-regulated institution, indirect exposure also includes an investment in an investment fund that holds a covered debt instrument. Insurance bank holding company means: (1)(i) A bank holding company that is an insurance underwriting company; or (ii) A bank holding company that, as of June 30 of the previous calendar year, held 25 percent or more of its [[Page 428]] total consolidated assets in subsidiaries that are insurance underwriting companies (other than assets associated with insurance underwriting for credit risk). (2) For purposes of this definition, the company must calculate its total consolidated assets in accordance with GAAP, or if the company does not calculate its total consolidated assets under GAAP for any regulatory purpose (including compliance with applicable securities laws), the company may estimate its total consolidated assets, subject to review and adjustment by the Board. Insurance company means an insurance company as defined in section 201 of the Dodd-Frank Act (12 U.S.C. 5381). Insurance mid-tier holding company means a bank holding company, or savings and loan holding company, domiciled in the United States that: (1) Is a subsidiary of: (i) An insurance bank holding company to which subpart J of this part applies; or (ii) An insurance savings and loan holding company to which subpart J of this part applies; and (2) Is not an insurance underwriting company that is subject to state law capital requirements. Insurance savings and loan holding company means: (1)(i) A top-tier savings and loan holding company that is an insurance underwriting company; or (ii) A top-tier savings and loan holding company that, as of June 30 of the previous calendar year, held 25 percent or more of its total consolidated assets in subsidiaries that are insurance underwriting companies (other than assets associated with insurance underwriting for credit risk). (2) For purposes of this definition, the company must calculate its total consolidated assets in accordance with GAAP, or if the company does not calculate its total consolidated assets under GAAP for any regulatory purpose (including compliance with applicable securities laws), the company may estimate its total consolidated assets, subject to review and adjustment by the Board. Insurance underwriting company means an insurance company as defined in section 201 of the Dodd-Frank Act (12 U.S.C. 5381) that engages in insurance underwriting activities. Insured depository institution means an insured depository institution as defined in section 3 of the Federal Deposit Insurance Act. Interest rate derivative contract means a single-currency interest rate swap, basis swap, forward rate agreement, purchased interest rate option, when-issued securities, or any other instrument linked to interest rates that gives rise to similar counterparty credit risks. International Lending Supervision Act means the International Lending Supervision Act of 1983 (12 U.S.C. 3901 et seq.). Investing bank means, with respect to a securitization, a Board- regulated institution that assumes the credit risk of a securitization exposure (other than an originating Board-regulated institution of the securitization). In the typical synthetic securitization, the investing Board-regulated institution sells credit protection on a pool of underlying exposures to the originating Board-regulated institution. Investment fund means a company: (1) Where all or substantially all of the assets of the company are financial assets; and (2) That has no material liabilities. Investment grade means that the entity to which the Board-regulated institution is exposed through a loan or security, or the reference entity with respect to a credit derivative, has adequate capacity to meet financial commitments for the projected life of the asset or exposure. Such an entity or reference entity has adequate capacity to meet financial commitments if the risk of its default is low and the full and timely repayment of principal and interest is expected. Investment in a covered debt instrument means a Board-regulated institution's net long position calculated in accordance with Sec. 217.22(h) in a covered debt instrument, including direct, indirect, and synthetic exposures to the debt instrument, excluding any underwriting positions held by the Board-regulated institution for five or fewer business days. [[Page 429]] Investment in the capital of an unconsolidated financial institution means a net long position calculated in accordance with Sec. 217.22(h) in an instrument that is recognized as capital for regulatory purposes by the primary supervisor of an unconsolidated regulated financial institution or is an instrument that is part of the GAAP equity of an unconsolidated unregulated financial institution, including direct, indirect, and synthetic exposures to capital instruments, excluding underwriting positions held by the Board-regulated institution for five or fewer business days. Investment in the Board-regulated institution's own capital instrument means a net long position calculated in accordance with Sec. 217.22(h) in the Board-regulated institution's own common stock instrument, own additional tier 1 capital instrument or own tier 2 capital instrument, including direct, indirect, or synthetic exposures to such capital instruments. An investment in the Board-regulated institution's own capital instrument includes any contractual obligation to purchase such capital instrument. Junior-lien residential mortgage exposure means a residential mortgage exposure that is not a first-lien residential mortgage exposure. Main index means the Standard & Poor's 500 Index, the FTSE All-World Index, and any other index for which the Board-regulated institution can demonstrate to the satisfaction of the Board that the equities represented in the index have comparable liquidity, depth of market, and size of bid-ask spreads as equities in the Standard & Poor's 500 Index and FTSE All-World Index. Market risk Board-regulated institution means a Board-regulated institution that is described in Sec. 217.201(b). Minimum transfer amount means the smallest amount of variation margin that may be transferred between counterparties to a netting set pursuant to the variation margin agreement. Money market fund means an investment fund that is subject to 17 CFR 270.2a-7 or any foreign equivalent thereof. Mortgage servicing assets (MSAs) means the contractual rights owned by a Board-regulated institution to service for a fee mortgage loans that are owned by others. Multilateral development bank (MDB) means the International Bank for Reconstruction and Development, the Multilateral Investment Guarantee Agency, the International Finance Corporation, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the European Investment Fund, the Nordic Investment Bank, the Caribbean Development Bank, the Islamic Development Bank, the Council of Europe Development Bank, and any other multilateral lending institution or regional development bank in which the U.S. government is a shareholder or contributing member or which the Board determines poses comparable credit risk. National Bank Act means the National Bank Act (12 U.S.C. 24). Net independent collateral amount means the fair value amount of the independent collateral, as adjusted by the standard supervisory haircuts under Sec. 217.132(b)(2)(ii), as applicable, that a counterparty to a netting set has posted to a Board-regulated institution less the fair value amount of the independent collateral, as adjusted by the standard supervisory haircuts under Sec. 217.132(b)(2)(ii), as applicable, posted by the Board-regulated institution to the counterparty, excluding such amounts held in a bankruptcy remote manner or posted to a QCCP and held in conformance with the operational requirements in Sec. 217.3. Netting set means a group of transactions with a single counterparty that are subject to a qualifying master netting agreement. For derivative contracts, netting set also includes a single derivative contract between a Board-regulated institution and a single counterparty. For purposes of the internal model methodology under Sec. 217.132(d), netting set also includes a group of transactions with a single counterparty that are subject to a qualifying cross-product master netting agreement and does not include a transaction: [[Page 430]] (1) That is not subject to such a master netting agreement; or (2) Where the Board-regulated institution has identified specific wrong-way risk. Non-guaranteed separate account means a separate account where the insurance company: (1) Does not contractually guarantee either a minimum return or account value to the contract holder; and (2) Is not required to hold reserves (in the general account) pursuant to its contractual obligations to a policyholder. Non-significant investment in the capital of an unconsolidated financial institution means an investment by an advanced approaches Board-regulated institution in the capital of an unconsolidated financial institution where the advanced approaches Board-regulated institution owns 10 percent or less of the issued and outstanding common stock of the unconsolidated financial institution. N\th\-to-default credit derivative means a credit derivative that provides credit protection only for the n\th\-defaulting reference exposure in a group of reference exposures. Operating entity means a company established to conduct business with clients with the intention of earning a profit in its own right. Original maturity with respect to an off-balance sheet commitment means the length of time between the date a commitment is issued and: (1) For a commitment that is not subject to extension or renewal, the stated expiration date of the commitment; or (2) For a commitment that is subject to extension or renewal, the earliest date on which the Board-regulated institution can, at its option, unconditionally cancel the commitment. Originating Board-regulated institution, with respect to a securitization, means a Board-regulated institution that: (1) Directly or indirectly originated or securitized the underlying exposures included in the securitization; or (2) Serves as an ABCP program sponsor to the securitization. Over-the-counter (OTC) derivative contract means a derivative contract that is not a cleared transaction. An OTC derivative includes a transaction: (1) Between a Board-regulated institution that is a clearing member and a counterparty where the Board-regulated institution is acting as a financial intermediary and enters into a cleared transaction with a CCP that offsets the transaction with the counterparty; or (2) In which a Board-regulated institution that is a clearing member provides a CCP a guarantee on the performance of the counterparty to the transaction. Performance standby letter of credit (or performance bond) means an irrevocable obligation of a Board-regulated institution to pay a third- party beneficiary when a customer (account party) fails to perform on any contractual nonfinancial or commercial obligation. To the extent permitted by law or regulation, performance standby letters of credit include arrangements backing, among other things, subcontractors' and suppliers' performance, labor and materials contracts, and construction bids. Policy loan means a loan by an insurance company to a policy holder pursuant to the provisions of an insurance contract that is secured by the cash surrender value or collateral assignment of the related policy or contract. A policy loan includes: (1) A cash loan, including a loan resulting from early payment benefits or accelerated payment benefits, on an insurance contract when the terms of contract specify that the payment is a policy loan secured by the policy; and (2) An automatic premium loan, which is a loan that is made in accordance with policy provisions which provide that delinquent premium payments are automatically paid from the cash value at the end of the established grace period for premium payments. Pre-sold construction loan means any one-to-four family residential construction loan to a builder that meets the requirements of section 618(a)(1) or (2) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 (12 U.S.C. 1831n note) and the following criteria: (1) The loan is made in accordance with prudent underwriting standards, [[Page 431]] meaning that the Board-regulated institution has obtained sufficient documentation that the buyer of the home has a legally binding written sales contract and has a firm written commitment for permanent financing of the home upon completion; (2) The purchaser is an individual(s) that intends to occupy the residence and is not a partnership, joint venture, trust, corporation, or any other entity (including an entity acting as a sole proprietorship) that is purchasing one or more of the residences for speculative purposes; (3) The purchaser has entered into a legally binding written sales contract for the residence; (4) The purchaser has not terminated the contract; however, if the purchaser terminates the sales contract, the Board must immediately apply a 100 percent risk weight to the loan and report the revised risk weight in the next quarterly Call Report, for a state member bank, or the FR Y-9C, for a bank holding company or savings and loan holding company, as applicable, (5) The purchaser has made a substantial earnest money deposit of no less than 3 percent of the sales price, which is subject to forfeiture if the purchaser terminates the sales contract; provided that, the earnest money deposit shall not be subject to forfeiture by reason of breach or termination of the sales contract on the part of the builder; (6) The earnest money deposit must be held in escrow by the Board- regulated institution or an independent party in a fiduciary capacity, and the escrow agreement must provide that in an event of default arising from the cancellation of the sales contract by the purchaser of the residence, the escrow funds shall be used to defray any cost incurred by the Board-regulated institution; (7) The builder must incur at least the first 10 percent of the direct costs of construction of the residence (that is, actual costs of the land, labor, and material) before any drawdown is made under the loan; (8) The loan may not exceed 80 percent of the sales price of the presold residence; and (9) The loan is not more than 90 days past due, or on nonaccrual. Protection amount (P) means, with respect to an exposure hedged by an eligible guarantee or eligible credit derivative, the effective notional amount of the guarantee or credit derivative, reduced to reflect any currency mismatch, maturity mismatch, or lack of restructuring coverage (as provided in Sec. Sec. 217.36 or 217.134, as appropriate). Publicly-traded means traded on: (1) Any exchange registered with the SEC as a national securities exchange under section 6 of the Securities Exchange Act; or (2) Any non-U.S.-based securities exchange that: (i) Is registered with, or approved by, a national securities regulatory authority; and (ii) Provides a liquid, two-way market for the instrument in question. Public sector entity (PSE) means a state, local authority, or other governmental subdivision below the sovereign level. Qualifying central bank means: (1) A Federal Reserve Bank; (2) The European Central Bank; and (3) The central bank of any member country of the Organisation for Economic Co-operation and Development, if: (i) Sovereign exposures to the member country would receive a zero percent risk-weight under Sec. 217.32; and (ii) The sovereign debt of the member country is not in default or has not been in default during the previous 5 years. Qualifying central counterparty (QCCP) means a central counterparty that: (1)(i) Is a designated financial market utility (FMU) under Title VIII of the Dodd-Frank Act; (ii) If not located in the United States, is regulated and supervised in a manner equivalent to a designated FMU; or (iii) Meets the following standards: (A) The central counterparty requires all parties to contracts cleared by the counterparty to be fully collateralized on a daily basis; (B) The Board-regulated institution demonstrates to the satisfaction of the Board that the central counterparty: [[Page 432]] (1) Is in sound financial condition; (2) Is subject to supervision by the Board, the CFTC, or the Securities Exchange Commission (SEC), or, if the central counterparty is not located in the United States, is subject to effective oversight by a national supervisory authority in its home country; and (3) Meets or exceeds the risk-management standards for central counterparties set forth in regulations established by the Board, the CFTC, or the SEC under Title VII or Title VIII of the Dodd-Frank Act; or if the central counterparty is not located in the United States, meets or exceeds similar risk-management standards established under the law of its home country that are consistent with international standards for central counterparty risk management as established by the relevant standard setting body of the Bank of International Settlements; and (2)(i) Provides the Board-regulated institution with the central counterparty's hypothetical capital requirement or the information necessary to calculate such hypothetical capital requirement, and other information the Board-regulated institution is required to obtain under Sec. Sec. 217.35(d)(3) and 217.133(d)(3); (ii) Makes available to the Board and the CCP's regulator the information described in paragraph (2)(i) of this definition; and (iii) Has not otherwise been determined by the Board to not be a QCCP due to its financial condition, risk profile, failure to meet supervisory risk management standards, or other weaknesses or supervisory concerns that are inconsistent with the risk weight assigned to qualifying central counterparties under Sec. Sec. 217.35 and 217.133. (3) Exception. A QCCP that fails to meet the requirements of a QCCP in the future may still be treated as a QCCP under the conditions specified in Sec. 217.3(f). Qualifying master netting agreement means a written, legally enforceable agreement provided that: (1) The agreement creates a single legal obligation for all individual transactions covered by the agreement upon an event of default following any stay permitted by paragraph (2) of this definition, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty; (2) The agreement provides the Board-regulated institution the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, conservatorship, insolvency, liquidation, or similar proceeding, of the counterparty, provided that, in any such case: (i) Any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than: (A) In receivership, conservatorship, or resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs, or laws of foreign jurisdictions that are substantially similar \7\ to the U.S. laws referenced in this paragraph (2)(i)(A) in order to facilitate the orderly resolution of the defaulting counterparty; or --------------------------------------------------------------------------- \7\ The Board expects to evaluate jointly with the OCC and Federal Deposit Insurance Corporation whether foreign special resolution regimes meet the requirements of this paragraph. --------------------------------------------------------------------------- (B) Where the agreement is subject by its terms to, or incorporates, any of the laws referenced in paragraph (2)(i)(A) of this definition; and (ii) The agreement may limit the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default of the counterparty to the extent necessary for the counterparty to comply with the requirements of subpart I of the Board's Regulation YY (part 252 of this chapter), part 47 of this title, or part 382 of this title, as applicable; Regulated financial institution means a financial institution subject to consolidated supervision and regulation comparable to that imposed on the following U.S. financial institutions: Depository institutions, depository institution holding companies, nonbank financial companies supervised by the [[Page 433]] Board, designated financial market utilities, securities broker-dealers, credit unions, or insurance companies. Regulated foreign subsidiary and regulated foreign affiliate means a person described in section 171(a)(6) of the Dodd-Frank Act (12 U.S.C. 5371(a)(6)) and any subsidiary of such a person other than a state- regulated insurer. Repo-style transaction means a repurchase or reverse repurchase transaction, or a securities borrowing or securities lending transaction, including a transaction in which the Board-regulated institution acts as agent for a customer and indemnifies the customer against loss, provided that: (1) The transaction is based solely on liquid and readily marketable securities, cash, or gold; (2) The transaction is marked-to-fair value daily and subject to daily margin maintenance requirements; (3)(i) The transaction is a ``securities contract'' or ``repurchase agreement'' under section 555 or 559, respectively, of the Bankruptcy Code (11 U.S.C. 555 or 559), a qualified financial contract under section 11(e)(8) of the Federal Deposit Insurance Act, or a netting contract between or among financial institutions under sections 401-407 of the Federal Deposit Insurance Corporation Improvement Act or the Federal Reserve Board's Regulation EE (12 CFR part 231); or (ii) If the transaction does not meet the criteria set forth in paragraph (3)(i) of this definition, then either: (A) The transaction is executed under an agreement that provides the Board-regulated institution the right to accelerate, terminate, and close-out the transaction on a net basis and to liquidate or set-off collateral promptly upon an event of default, including upon an event of receivership, insolvency, liquidation, or similar proceeding, of the counterparty, provided that, in any such case: (1) Any exercise of rights under the agreement will not be stayed or avoided under applicable law in the relevant jurisdictions, other than: (i) In receivership, conservatorship, or resolution under the Federal Deposit Insurance Act, Title II of the Dodd-Frank Act, or under any similar insolvency law applicable to GSEs, or laws of foreign jurisdictions that are substantially similar \8\ to the U.S. laws referenced in this paragraph (3)(ii)(A)(1)(i) in order to facilitate the orderly resolution of the defaulting counterparty; --------------------------------------------------------------------------- \8\ The Board expects to evaluate jointly with the OCC and Federal Deposit Insurance Corporation whether foreign special resolution regimes meet the requirements of this paragraph. --------------------------------------------------------------------------- (ii) Where the agreement is subject by its terms to, or incorporates, any of the laws referenced in paragraph (3)(ii)(A)(1)(i) of this definition; and (2) The agreement may limit the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set-off collateral promptly upon an event of default of the counterparty to the extent necessary for the counterparty to comply with the requirements of subpart I of the Board's Regulation YY (part 252 of this chapter), part 47 of this title, or part 382 of this title, as applicable; or (B) The transaction is: (1) Either overnight or unconditionally cancelable at any time by the Board-regulated institution; and (2) Executed under an agreement that provides the Board-regulated institution the right to accelerate, terminate, and close-out the transaction on a net basis and to liquidate or set-off collateral promptly upon an event of counterparty default; and (4) In order to recognize an exposure as a repo-style transaction for purposes of this subpart, a Board-regulated institution must comply with the requirements of Sec. 217.3(e) of this part with respect to that exposure. Resecuritization means a securitization which has more than one underlying exposure and in which one or more of the underlying exposures is a securitization exposure. Resecuritization exposure means: (1) An on- or off-balance sheet exposure to a resecuritization; (2) An exposure that directly or indirectly references a resecuritization exposure. (3) An exposure to an asset-backed commercial paper program is not a resecuritization exposure if either: [[Page 434]] (i) The program-wide credit enhancement does not meet the definition of a resecuritization exposure; or (ii) The entity sponsoring the program fully supports the commercial paper through the provision of liquidity so that the commercial paper holders effectively are exposed to the default risk of the sponsor instead of the underlying exposures. Residential mortgage exposure means an exposure (other than a securitization exposure, equity exposure, statutory multifamily mortgage, or presold construction loan): (1)(i) That is primarily secured by a first or subsequent lien on one-to-four family residential property; or (ii) With an original and outstanding amount of $1 million or less that is primarily secured by a first or subsequent lien on residential property that is not one-to-four family; and (2) For purposes of calculating capital requirements under subpart E of this part, managed as part of a segment of exposures with homogeneous risk characteristics and not on an individual-exposure basis. Revenue obligation means a bond or similar obligation that is an obligation of a PSE, but which the PSE is committed to repay with revenues from the specific project financed rather than general tax funds. Savings and loan holding company means a savings and loan holding company as defined in section 10 of the Home Owners' Loan Act (12 U.S.C. 1467a). Securities and Exchange Commission (SEC) means the U.S. Securities and Exchange Commission. Securities Exchange Act means the Securities Exchange Act of 1934 (15 U.S.C. 78). Securitization exposure means: (1) An on-balance sheet or off-balance sheet credit exposure (including credit-enhancing representations and warranties) that arises from a traditional securitization or synthetic securitization (including a resecuritization), or (2) An exposure that directly or indirectly references a securitization exposure described in paragraph (1) of this definition. Securitization special purpose entity (securitization SPE) means a corporation, trust, or other entity organized for the specific purpose of holding underlying exposures of a securitization, the activities of which are limited to those appropriate to accomplish this purpose, and the structure of which is intended to isolate the underlying exposures held by the entity from the credit risk of the seller of the underlying exposures to the entity. Separate account means a legally segregated pool of assets owned and held by an insurance company and maintained separately from the insurance company's general account assets for the benefit of an individual contract holder. To be a separate account: (1) The account must be legally recognized as a separate account under applicable law; (2) The assets in the account must be insulated from general liabilities of the insurance company under applicable law in the event of the insurance company's insolvency; (3) The insurance company must invest the funds within the account as directed by the contract holder in designated investment alternatives or in accordance with specific investment objectives or policies; and (4) All investment gains and losses, net of contract fees and assessments, must be passed through to the contract holder, provided that the contract may specify conditions under which there may be a minimum guarantee but must not include contract terms that limit the maximum investment return available to the policyholder. Servicer cash advance facility means a facility under which the servicer of the underlying exposures of a securitization may advance cash to ensure an uninterrupted flow of payments to investors in the securitization, including advances made to cover foreclosure costs or other expenses to facilitate the timely collection of the underlying exposures. Significant investment in the capital of an unconsolidated financial institution means an investment by an advanced approaches Board- regulated institution in the capital of an unconsolidated financial institution where the advanced approaches Board-regulated institution [[Page 435]] owns more than 10 percent of the issued and outstanding common stock of the unconsolidated financial institution. Small Business Act means the Small Business Act (15 U.S.C. 632). Small Business Investment Act means the Small Business Investment Act of 1958 (15 U.S.C. 682). Sovereign means a central government (including the U.S. government) or an agency, department, ministry, or central bank of a central government. Sovereign default means noncompliance by a sovereign with its external debt service obligations or the inability or unwillingness of a sovereign government to service an existing loan according to its original terms, as evidenced by failure to pay principal and interest timely and fully, arrearages, or restructuring. Sovereign exposure means: (1) A direct exposure to a sovereign; or (2) An exposure directly and unconditionally backed by the full faith and credit of a sovereign. Specific wrong-way risk means wrong-way risk that arises when either: (1) The counterparty and issuer of the collateral supporting the transaction; or (2) The counterparty and the reference asset of the transaction, are affiliates or are the same entity. Speculative grade means the reference entity has adequate capacity to meet financial commitments in the near term, but is vulnerable to adverse economic conditions, such that should economic conditions deteriorate, the reference entity would present an elevated default risk. Standardized market risk-weighted assets means the standardized measure for market risk calculated under Sec. 217.204 multiplied by 12.5. Standardized total risk-weighted assets means: (1) The sum of: (i) Total risk-weighted assets for general credit risk as calculated under Sec. 217.31; (ii) Total risk-weighted assets for cleared transactions and default fund contributions as calculated under Sec. 217.35; (iii) Total risk-weighted assets for unsettled transactions as calculated under Sec. 217.38; (iv) Total risk-weighted assets for securitization exposures as calculated under Sec. 217.42; (v) Total risk-weighted assets for equity exposures as calculated under Sec. Sec. 217.52 and 217.53; and (vi) For a market risk Board-regulated institution only, standardized market risk-weighted assets; minus (2) Any amount of the Board-regulated institution's allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, that is not included in tier 2 capital and any amount of ``allocated transfer risk reserves.'' State bank means any bank incorporated by special law of any State, or organized under the general laws of any State, or of the United States, including a Morris Plan bank, or other incorporated banking institution engaged in a similar business. State member bank or member bank means a state bank that is a member of the Federal Reserve System. State-regulated insurer means a person regulated by a state insurance regulator as defined in section 1002(22) of the Dodd-Frank Act (12 U.S.C. 5481(22)), and any subsidiary of such a person, other than a regulated foreign subsidiary and regulated foreign affiliate. Statutory multifamily mortgage means a loan secured by a multifamily residential property that meets the requirements under section 618(b)(1) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991, and that meets the following criteria: \9\ --------------------------------------------------------------------------- \9\ The types of loans that qualify as loans secured by multifamily residential properties are listed in the instructions for preparation of the Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable. --------------------------------------------------------------------------- (1) The loan is made in accordance with prudent underwriting standards; (2) The principal amount of the loan at origination does not exceed 80 percent of the value of the property (or 75 percent of the value of the property if the loan is based on an interest rate that changes over the term of the loan) [[Page 436]] where the value of the property is the lower of the acquisition cost of the property or the appraised (or, if appropriate, evaluated) value of the property; (3) All principal and interest payments on the loan must have been made on a timely basis in accordance with the terms of the loan for at least one year prior to applying a 50 percent risk weight to the loan, or in the case where an existing owner is refinancing a loan on the property, all principal and interest payments on the loan being refinanced must have been made on a timely basis in accordance with the terms of the loan for at least one year prior to applying a 50 percent risk weight to the loan; (4) Amortization of principal and interest on the loan must occur over a period of not more than 30 years and the minimum original maturity for repayment of principal must not be less than 7 years; (5) Annual net operating income (before making any payment on the loan) generated by the property securing the loan during its most recent fiscal year must not be less than 120 percent of the loan's current annual debt service (or 115 percent of current annual debt service if the loan is based on an interest rate that changes over the term of the loan) or, in the case of a cooperative or other not-for-profit housing project, the property must generate sufficient cash flow to provide comparable protection to the Board-regulated institution; and (6) The loan is not more than 90 days past due, or on nonaccrual. Sub-speculative grade means the reference entity depends on favorable economic conditions to meet its financial commitments, such that should such economic conditions deteriorate the reference entity likely would default on its financial commitments. Subsidiary means, with respect to a company, a company controlled by that company. Synthetic exposure means an exposure whose value is linked to the value of an investment in the Board-regulated institution's own capital instrument or to the value of an investment in the capital of an unconsolidated financial institution. For an advanced approaches Board- regulated institution, synthetic exposure includes an exposure whose value is linked to the value of an investment in a covered debt instrument. Synthetic securitization means a transaction in which: (1) All or a portion of the credit risk of one or more underlying exposures is retained or transferred to one or more third parties through the use of one or more credit derivatives or guarantees (other than a guarantee that transfers only the credit risk of an individual retail exposure); (2) The credit risk associated with the underlying exposures has been separated into at least two tranches reflecting different levels of seniority; (3) Performance of the securitization exposures depends upon the performance of the underlying exposures; and (4) All or substantially all of the underlying exposures are financial exposures (such as loans, commitments, credit derivatives, guarantees, receivables, asset-backed securities, mortgage-backed securities, other debt securities, or equity securities). Tier 1 capital means the sum of common equity tier 1 capital and additional tier 1 capital. Tier 1 minority interest means the tier 1 capital of a consolidated subsidiary of a Board-regulated institution that is not owned by the Board-regulated institution. Tier 2 capital is defined in Sec. 217.20(d). Total capital means the sum of tier 1 capital and tier 2 capital. Total capital minority interest means the total capital of a consolidated subsidiary of a Board-regulated institution that is not owned by the Board-regulated institution. Total leverage exposure is defined in Sec. 217.10(c)(2). Traditional securitization means a transaction in which: (1) All or a portion of the credit risk of one or more underlying exposures is transferred to one or more third parties other than through the use of credit derivatives or guarantees; (2) The credit risk associated with the underlying exposures has been separated into at least two tranches reflecting different levels of seniority; [[Page 437]] (3) Performance of the securitization exposures depends upon the performance of the underlying exposures; (4) All or substantially all of the underlying exposures are financial exposures (such as loans, commitments, credit derivatives, guarantees, receivables, asset-backed securities, mortgage-backed securities, other debt securities, or equity securities); (5) The underlying exposures are not owned by an operating company; (6) The underlying exposures are not owned by a small business investment company defined in section 302 of the Small Business Investment Act; (7) The underlying exposures are not owned by a firm an investment in which qualifies as a community development investment under section 24(Eleventh) of the National Bank Act; (8) The Board may determine that a transaction in which the underlying exposures are owned by an investment firm that exercises substantially unfettered control over the size and composition of its assets, liabilities, and off-balance sheet exposures is not a traditional securitization based on the transaction's leverage, risk profile, or economic substance; (9) The Board may deem a transaction that meets the definition of a traditional securitization, notwithstanding paragraph (5), (6), or (7) of this definition, to be a traditional securitization based on the transaction's leverage, risk profile, or economic substance; and (10) The transaction is not: (i) An investment fund; (ii) A collective investment fund (as defined in 12 CFR 208.34); (iii) An employee benefit plan (as defined in paragraphs (3) and (32) of section 3 of ERISA), a ``governmental plan'' (as defined in 29 U.S.C. 1002(32)) that complies with the tax deferral qualification requirements provided in the Internal Revenue Code, or any similar employee benefit plan established under the laws of a foreign jurisdiction; (iv) A synthetic exposure to the capital of a financial institution to the extent deducted from capital under Sec. 217.22; or (v) Registered with the SEC under the Investment Company Act of 1940 (15 U.S.C. 80a-1) or foreign equivalents thereof. Tranche means all securitization exposures associated with a securitization that have the same seniority level. Two-way market means a market where there are independent bona fide offers to buy and sell so that a price reasonably related to the last sales price or current bona fide competitive bid and offer quotations can be determined within one day and settled at that price within a relatively short time frame conforming to trade custom. Unconditionally cancelable means with respect to a commitment, that a Board-regulated institution may, at any time, with or without cause, refuse to extend credit under the commitment (to the extent permitted under applicable law). Underlying exposures means one or more exposures that have been securitized in a securitization transaction. Unregulated financial institution means, for purposes of Sec. 217.131, a financial institution that is not a regulated financial institution, including any financial institution that would meet the definition of ``financial institution'' under this section but for the ownership interest thresholds set forth in paragraph (4)(i) of that definition. U.S. Government agency means an instrumentality of the U.S. Government whose obligations are fully and explicitly guaranteed as to the timely payment of principal and interest by the full faith and credit of the U.S. Government. U.S. intermediate holding company means the company that is required to be established or designated pursuant to 12 CFR 252.153. Value-at-Risk (VaR) means the estimate of the maximum amount that the value of one or more exposures could decline due to market price or rate movements during a fixed holding period within a stated confidence interval. Variation margin means financial collateral that is subject to a collateral agreement provided by one party to its counterparty to meet the performance of the first party's obligations under [[Page 438]] one or more transactions between the parties as a result of a change in value of such obligations since the last time such financial collateral was provided. Variation margin agreement means an agreement to collect or post variation margin. Variation margin amount means the fair value amount of the variation margin, as adjusted by the standard supervisory haircuts under Sec. 217.132(b)(2)(ii), as applicable, that a counterparty to a netting set has posted to a Board-regulated institution less the fair value amount of the variation margin, as adjusted by the standard supervisory haircuts under Sec. 217.132(b)(2)(ii), as applicable, posted by the Board-regulated institution to the counterparty. Variation margin threshold means the amount of credit exposure of a Board-regulated institution to its counterparty that, if exceeded, would require the counterparty to post variation margin to the Board-regulated institution pursuant to the variation margin agreement. Volatility derivative contract means a derivative contract in which the payoff of the derivative contract explicitly depends on a measure of the volatility of an underlying risk factor to the derivative contract. Wrong-way risk means the risk that arises when an exposure to a particular counterparty is positively correlated with the probability of default of such counterparty itself. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013] Editorial Note: For Federal Register citations affecting Sec. 217.2, see the List of CFR Sections Affected, which appears in the Finding Aids section of the printed volume and at www.govinfo.gov. Sec. 217.3 Operational requirements for counterparty credit risk. For purposes of calculating risk-weighted assets under subparts D and E of this part: (a) Cleared transaction. In order to recognize certain exposures as cleared transactions pursuant to paragraphs (1)(ii), (iii) or (iv) of the definition of ``cleared transaction'' in Sec. 217.2, the exposures must meet the applicable requirements set forth in this paragraph (a). (1) The offsetting transaction must be identified by the CCP as a transaction for the clearing member client. (2) The collateral supporting the transaction must be held in a manner that prevents the Board-regulated institution from facing any loss due to an event of default, including from a liquidation, receivership, insolvency, or similar proceeding of either the clearing member or the clearing member's other clients. Omnibus accounts established under 17 CFR parts 190 and 300 satisfy the requirements of this paragraph (a). (3) The Board-regulated institution must conduct sufficient legal review to conclude with a well-founded basis (and maintain sufficient written documentation of that legal review) that in the event of a legal challenge (including one resulting from a default or receivership, insolvency, liquidation, or similar proceeding) the relevant court and administrative authorities would find the arrangements of paragraph (a)(2) of this section to be legal, valid, binding and enforceable under the law of the relevant jurisdictions. (4) The offsetting transaction with a clearing member must be transferable under the transaction documents and applicable laws in the relevant jurisdiction(s) to another clearing member should the clearing member default, become insolvent, or enter receivership, insolvency, liquidation, or similar proceedings. (b) Eligible margin loan. In order to recognize an exposure as an eligible margin loan as defined in Sec. 217.2, a Board-regulated institution must conduct sufficient legal review to conclude with a well-founded basis (and maintain sufficient written documentation of that legal review) that the agreement underlying the exposure: (1) Meets the requirements of paragraph (1)(iii) of the definition of eligible margin loan in Sec. 217.2, and (2) Is legal, valid, binding, and enforceable under applicable law in the relevant jurisdictions. (c) Qualifying cross-product master netting agreement. In order to recognize an agreement as a qualifying cross-product master netting agreement as defined in Sec. 217.101, a Board-regulated institution must obtain a written legal [[Page 439]] opinion verifying the validity and enforceability of the agreement under applicable law of the relevant jurisdictions if the counterparty fails to perform upon an event of default, including upon receivership, insolvency, liquidation, or similar proceeding. (d) Qualifying master netting agreement. In order to recognize an agreement as a qualifying master netting agreement as defined in Sec. 217.2, a Board-regulated institution must: (1) Conduct sufficient legal review to conclude with a well-founded basis (and maintain sufficient written documentation of that legal review) that: (i) The agreement meets the requirements of paragraph (2) of the definition of qualifying master netting agreement in Sec. 217.2; and (ii) In the event of a legal challenge (including one resulting from default or from receivership, insolvency, liquidation, or similar proceeding) the relevant court and administrative authorities would find the agreement to be legal, valid, binding, and enforceable under the law of the relevant jurisdictions; and (2) Establish and maintain written procedures to monitor possible changes in relevant law and to ensure that the agreement continues to satisfy the requirements of the definition of qualifying master netting agreement in Sec. 217.2. (e) Repo-style transaction. In order to recognize an exposure as a repo-style transaction as defined in Sec. 217.2, a Board-regulated institution must conduct sufficient legal review to conclude with a well-founded basis (and maintain sufficient written documentation of that legal review) that the agreement underlying the exposure: (1) Meets the requirements of paragraph (3) of the definition of repo-style transaction in Sec. 217.2, and (2) Is legal, valid, binding, and enforceable under applicable law in the relevant jurisdictions. (f) Failure of a QCCP to satisfy the rule's requirements. If a Board-regulated institution determines that a CCP ceases to be a QCCP due to the failure of the CCP to satisfy one or more of the requirements set forth in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP in Sec. 217.2, the Board-regulated institution may continue to treat the CCP as a QCCP for up to three months following the determination. If the CCP fails to remedy the relevant deficiency within three months after the initial determination, or the CCP fails to satisfy the requirements set forth in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP continuously for a three-month period after remedying the relevant deficiency, a Board-regulated institution may not treat the CCP as a QCCP for the purposes of this part until after the Board-regulated institution has determined that the CCP has satisfied the requirements in paragraphs (2)(i) through (2)(iii) of the definition of a QCCP for three continuous months. Sec. Sec. 217.4-217.9 [Reserved] Subpart B_Capital Ratio Requirements and Buffers Sec. 217.10 Minimum capital requirements. (a) Minimum capital requirements. (1) A Board-regulated institution must maintain the following minimum capital ratios: (i) A common equity tier 1 capital ratio of 4.5 percent. (ii) A tier 1 capital ratio of 6 percent. (iii) A total capital ratio of 8 percent. (iv) A leverage ratio of 4 percent. (v) For advanced approaches Board-regulated institutions or, for Category III Board-regulated institutions, a supplementary leverage ratio of 3 percent. (2) A qualifying community banking organization (as defined in Sec. 217.12), that is subject to the community bank leverage ratio framework (as defined Sec. 217.12), is considered to have met the minimum capital requirements in this paragraph (a) of this section. (b) Standardized capital ratio calculations. Other than as provided in paragraph (c) of this section: (1) Common equity tier 1 capital ratio. A Board-regulated institution's common equity tier 1 capital ratio is the ratio of the Board-regulated institution's common equity tier 1 capital to standardized total risk-weighted assets; (2) Tier 1 capital ratio. A Board-regulated institution's tier 1 capital ratio is [[Page 440]] the ratio of the Board-regulated institution's tier 1 capital to standardized total risk-weighted assets; (3) Total capital ratio. A Board-regulated institution's total capital ratio is the ratio of the Board-regulated institution's total capital to standardized total risk-weighted assets; and (4) Leverage ratio. A Board-regulated institution's leverage ratio is the ratio of the Board-regulated institution's tier 1 capital to the Board-regulated institution's average total consolidated assets as reported on the Board-regulated institution's Call Report, for a state member bank, or the Consolidated Financial Statements for Bank Holding Companies (FR Y-9C), for a bank holding company or savings and loan holding company, as applicable minus amounts deducted from tier 1 capital under Sec. 217.22(a), (c) and (d). (c) Supplementary leverage ratio. (1) A Category III Board-regulated institution or advanced approaches Board-regulated institution must determine its supplementary leverage ratio in accordance with this paragraph, beginning with the calendar quarter immediately following the quarter in which the Board-regulated institution is identified as a Category III Board-regulated institution. An advanced approaches Board- regulated institution's or a Category III Board-regulated institution's supplementary leverage ratio is the ratio of its tier 1 capital to total leverage exposure, the latter of which is calculated as the sum of: (i) The mean of the on-balance sheet assets calculated as of each day of the reporting quarter; and (ii) The mean of the off-balance sheet exposures calculated as of the last day of each of the most recent three months, minus the applicable deductions under Sec. 217.22(a), (c), and (d). (2) For purposes of this part, total leverage exposure means the sum of the items described in paragraphs (c)(2)(i) through (viii) of this section, as adjusted pursuant to paragraph (c)(2)(ix) of this section for a clearing member Board-regulated institution and paragraph (c)(2)(x) of this section for a custodial banking organization: (i) The balance sheet carrying value of all of the Board-regulated institution's on-balance sheet assets, plus the value of securities sold under a repurchase transaction or a securities lending transaction that qualifies for sales treatment under GAAP, less amounts deducted from tier 1 capital under Sec. 217.22(a), (c), and (d), and less the value of securities received in security-for-security repo-style transactions, where the Board-regulated institution acts as a securities lender and includes the securities received in its on-balance sheet assets but has not sold or re-hypothecated the securities received, and, for a Board- regulated institution that uses the standardized approach for counterparty credit risk under Sec. 217.132(c) for its standardized risk-weighted assets, less the fair value of any derivative contracts; (ii)(A) For a Board-regulated institution that uses the current exposure methodology under Sec. 217.34(b) for its standardized risk- weighted assets, the potential future credit exposure (PFE) for each derivative contract or each single-product netting set of derivative contracts (including a cleared transaction except as provided in paragraph (c)(2)(ix) of this section and, at the discretion of the Board-regulated institution, excluding a forward agreement treated as a derivative contract that is part of a repurchase or reverse repurchase or a securities borrowing or lending transaction that qualifies for sales treatment under GAAP), to which the Board-regulated institution is a counterparty as determined under Sec. 217.34, but without regard to Sec. 217.34(c), provided that: (1) A Board-regulated institution may choose to exclude the PFE of all credit derivatives or other similar instruments through which it provides credit protection when calculating the PFE under Sec. 217.34, but without regard to Sec. 217.34(c), provided that it does not adjust the net-to-gross ratio (NGR); and (2) A Board-regulated institution that chooses to exclude the PFE of credit derivatives or other similar instruments through which it provides credit protection pursuant to paragraph (c)(2)(ii)(A) of this section must do so consistently over time for the calculation of the PFE for all such instruments; or [[Page 441]] (B)(1) For a Board-regulated institution that uses the standardized approach for counterparty credit risk under section Sec. 217.132(c) for its standardized risk-weighted assets, the PFE for each netting set to which the Board-regulated institution is a counterparty (including cleared transactions except as provided in paragraph (c)(2)(ix) of this section and, at the discretion of the Board-regulated institution, excluding a forward agreement treated as a derivative contract that is part of a repurchase or reverse repurchase or a securities borrowing or lending transaction that qualifies for sales treatment under GAAP), as determined under Sec. 217.132(c)(7), in which the term C in Sec. 217.132(c)(7)(i) equals zero, and, for any counterparty that is not a commercial end-user, multiplied by 1.4. For purposes of this paragraph (c)(2)(ii)(B)(1), a Board-regulated institution may set the value of the term C in Sec. 217.132(c)(7)(i) equal to the amount of collateral posted by a clearing member client of the Board-regulated institution in connection with the client-facing derivative transactions within the netting set; and (2) A Board-regulated institution may choose to exclude the PFE of all credit derivatives or other similar instruments through which it provides credit protection when calculating the PFE under Sec. 217.132(c), provided that it does so consistently over time for the calculation of the PFE for all such instruments; (iii)(A)(1) For a Board-regulated institution that uses the current exposure methodology under Sec. 217.34(b) for its standardized risk- weighted assets, the amount of cash collateral that is received from a counterparty to a derivative contract and that has offset the mark-to- fair value of the derivative asset, or cash collateral that is posted to a counterparty to a derivative contract and that has reduced the Board- regulated institution's on-balance sheet assets, unless such cash collateral is all or part of variation margin that satisfies the conditions in paragraphs (c)(2)(iii)(C) through (G) of this section; and (2) The variation margin is used to reduce the current credit exposure of the derivative contract, calculated as described in Sec. 217.34(b), and not the PFE; and (3) For the purpose of the calculation of the NGR described in Sec. 217.34(b)(2)(ii)(B), variation margin described in paragraph (c)(2)(iii)(A)(2) of this section may not reduce the net current credit exposure or the gross current credit exposure; or (B)(1) For a Board-regulated institution that uses the standardized approach for counterparty credit risk under Sec. 217.132(c) for its standardized risk-weighted assets, the replacement cost of each derivative contract or single product netting set of derivative contracts to which the Board-regulated institution is a counterparty, calculated according to the following formula, and, for any counterparty that is not a commercial end-user, multiplied by 1.4: Replacement Cost = max{V-CVMr + CVMp;0{time} Where: V equals the fair value for each derivative contract or each single- product netting set of derivative contracts (including a cleared transaction except as provided in paragraph (c)(2)(ix) of this section and, at the discretion of the Board-regulated institution, excluding a forward agreement treated as a derivative contract that is part of a repurchase or reverse repurchase or a securities borrowing or lending transaction that qualifies for sales treatment under GAAP); CVMr equals the amount of cash collateral received from a counterparty to a derivative contract and that satisfies the conditions in paragraphs (c)(2)(iii)(C) through (G) of this section, or, in the case of a client-facing derivative transaction, the amount of collateral received from the clearing member client; and CVMp equals the amount of cash collateral that is posted to a counterparty to a derivative contract and that has not offset the fair value of the derivative contract and that satisfies the conditions in paragraphs (c)(2)(iii)(C) through (G) of this section, or, in the case of a client-facing derivative transaction, the amount of collateral posted to the clearing member client; (2) Notwithstanding paragraph (c)(2)(iii)(B)(1) of this section, where multiple netting sets are subject to a single variation margin agreement, a Board-regulated institution must apply the formula for replacement cost provided in Sec. 217.132(c)(10)(i), in which the [[Page 442]] term CMA may only include cash collateral that satisfies the conditions in paragraphs (c)(2)(iii)(C) through (G) of this section; and (3) For purposes of paragraph (c)(2)(iii)(B)(1), a Board-regulated institution must treat a derivative contract that references an index as if it were multiple derivative contracts each referencing one component of the index if the Board-regulated institution elected to treat the derivative contract as multiple derivative contracts under Sec. 217.132(c)(5)(vi); (C) For derivative contracts that are not cleared through a QCCP, the cash collateral received by the recipient counterparty is not segregated (by law, regulation, or an agreement with the counterparty); (D) Variation margin is calculated and transferred on a daily basis based on the mark-to-fair value of the derivative contract; (E) The variation margin transferred under the derivative contract or the governing rules of the CCP or QCCP for a cleared transaction is the full amount that is necessary to fully extinguish the net current credit exposure to the counterparty of the derivative contracts, subject to the threshold and minimum transfer amounts applicable to the counterparty under the terms of the derivative contract or the governing rules for a cleared transaction; (F) The variation margin is in the form of cash in the same currency as the currency of settlement set forth in the derivative contract, provided that for the purposes of this paragraph (c)(2)(iii)(F), currency of settlement means any currency for settlement specified in the governing qualifying master netting agreement and the credit support annex to the qualifying master netting agreement, or in the governing rules for a cleared transaction; and (G) The derivative contract and the variation margin are governed by a qualifying master netting agreement between the legal entities that are the counterparties to the derivative contract or by the governing rules for a cleared transaction, and the qualifying master netting agreement or the governing rules for a cleared transaction must explicitly stipulate that the counterparties agree to settle any payment obligations on a net basis, taking into account any variation margin received or provided under the contract if a credit event involving either counterparty occurs; (iv) The effective notional principal amount (that is, the apparent or stated notional principal amount multiplied by any multiplier in the derivative contract) of a credit derivative, or other similar instrument, through which the Board-regulated institution provides credit protection, provided that: (A) The Board-regulated institution may reduce the effective notional principal amount of the credit derivative by the amount of any reduction in the mark-to-fair value of the credit derivative if the reduction is recognized in common equity tier 1 capital; (B) The Board-regulated institution may reduce the effective notional principal amount of the credit derivative by the effective notional principal amount of a purchased credit derivative or other similar instrument, provided that the remaining maturity of the purchased credit derivative is equal to or greater than the remaining maturity of the credit derivative through which the Board-regulated institution provides credit protection and that: (1) With respect to a credit derivative that references a single exposure, the reference exposure of the purchased credit derivative is to the same legal entity and ranks pari passu with, or is junior to, the reference exposure of the credit derivative through which the Board- regulated institution provides credit protection; or (2) With respect to a credit derivative that references multiple exposures, the reference exposures of the purchased credit derivative are to the same legal entities and rank pari passu with the reference exposures of the credit derivative through which the Board-regulated institution provides credit protection, and the level of seniority of the purchased credit derivative ranks pari passu to the level of seniority of the credit derivative through which the Board-regulated institution provides credit protection; [[Page 443]] (3) Where a Board-regulated institution has reduced the effective notional amount of a credit derivative through which the Board-regulated institution provides credit protection in accordance with paragraph (c)(2)(iv)(A) of this section, the Board-regulated institution must also reduce the effective notional principal amount of a purchased credit derivative used to offset the credit derivative through which the Board- regulated institution provides credit protection, by the amount of any increase in the mark-to-fair value of the purchased credit derivative that is recognized in common equity tier 1 capital; and (4) Where the Board-regulated institution purchases credit protection through a total return swap and records the net payments received on a credit derivative through which the Board-regulated institution provides credit protection in net income, but does not record offsetting deterioration in the mark-to-fair value of the credit derivative through which the Board-regulated institution provides credit protection in net income (either through reductions in fair value or by additions to reserves), the Board-regulated institution may not use the purchased credit protection to offset the effective notional principal amount of the related credit derivative through which the Board- regulated institution provides credit protection; (v) Where a Board-regulated institution acting as a principal has more than one repo-style transaction with the same counterparty and has offset the gross value of receivables due from a counterparty under reverse repurchase transactions by the gross value of payables under repurchase transactions due to the same counterparty, the gross value of receivables associated with the repo-style transactions less any on- balance sheet receivables amount associated with these repo-style transactions included under paragraph (c)(2)(i) of this section, unless the following criteria are met: (A) The offsetting transactions have the same explicit final settlement date under their governing agreements; (B) The right to offset the amount owed to the counterparty with the amount owed by the counterparty is legally enforceable in the normal course of business and in the event of receivership, insolvency, liquidation, or similar proceeding; and (C) Under the governing agreements, the counterparties intend to settle net, settle simultaneously, or settle according to a process that is the functional equivalent of net settlement, (that is, the cash flows of the transactions are equivalent, in effect, to a single net amount on the settlement date), where both transactions are settled through the same settlement system, the settlement arrangements are supported by cash or intraday credit facilities intended to ensure that settlement of both transactions will occur by the end of the business day, and the settlement of the underlying securities does not interfere with the net cash settlement; (vi) The counterparty credit risk of a repo-style transaction, including where the Board-regulated institution acts as an agent for a repo-style transaction and indemnifies the customer with respect to the performance of the customer's counterparty in an amount limited to the difference between the fair value of the security or cash its customer has lent and the fair value of the collateral the borrower has provided, calculated as follows: (A) If the transaction is not subject to a qualifying master netting agreement, the counterparty credit risk (E*) for transactions with a counterparty must be calculated on a transaction by transaction basis, such that each transaction i is treated as its own netting set, in accordance with the following formula, where Ei is the fair value of the instruments, gold, or cash that the Board-regulated institution has lent, sold subject to repurchase, or provided as collateral to the counterparty, and Ci is the fair value of the instruments, gold, or cash that the Board-regulated institution has borrowed, purchased subject to resale, or received as collateral from the counterparty: Ei* = max {0, [Ei - Ci]{time} ; and (B) If the transaction is subject to a qualifying master netting agreement, the counterparty credit risk (E*) must be calculated as the greater of zero and the total fair value of the instruments, gold, or cash that the Board-regulated [[Page 444]] institution has lent, sold subject to repurchase or provided as collateral to a counterparty for all transactions included in the qualifying master netting agreement ([Sigma]Ei), less the total fair value of the instruments, gold, or cash that the Board- regulated institution borrowed, purchased subject to resale or received as collateral from the counterparty for those transactions ([Sigma]Ci), in accordance with the following formula: E* = max {0, [[Sigma]Ei - [Sigma]Ci]{time} (vii) If a Board-regulated institution acting as an agent for a repo-style transaction provides a guarantee to a customer of the security or cash its customer has lent or borrowed with respect to the performance of the customer's counterparty and the guarantee is not limited to the difference between the fair value of the security or cash its customer has lent and the fair value of the collateral the borrower has provided, the amount of the guarantee that is greater than the difference between the fair value of the security or cash its customer has lent and the value of the collateral the borrower has provided; (viii) The credit equivalent amount of all off-balance sheet exposures of the Board-regulated institution, excluding repo-style transactions, repurchase or reverse repurchase or securities borrowing or lending transactions that qualify for sales treatment under GAAP, and derivative transactions, determined using the applicable credit conversion factor under Sec. 217.33(b), provided, however, that the minimum credit conversion factor that may be assigned to an off-balance sheet exposure under this paragraph is 10 percent; and (ix) For a Board-regulated institution that is a clearing member: (A) A clearing member Board-regulated institution that guarantees the performance of a clearing member client with respect to a cleared transaction must treat its exposure to the clearing member client as a derivative contract for purposes of determining its total leverage exposure; (B) A clearing member Board-regulated institution that guarantees the performance of a CCP with respect to a transaction cleared on behalf of a clearing member client must treat its exposure to the CCP as a derivative contract for purposes of determining its total leverage exposure; (C) A clearing member Board-regulated institution that does not guarantee the performance of a CCP with respect to a transaction cleared on behalf of a clearing member client may exclude its exposure to the CCP for purposes of determining its total leverage exposure; (D) A Board-regulated institution that is a clearing member may exclude from its total leverage exposure the effective notional principal amount of credit protection sold through a credit derivative contract, or other similar instrument, that it clears on behalf of a clearing member client through a CCP as calculated in accordance with paragraph (c)(2)(iv) of this section; and (E) Notwithstanding paragraphs (c)(2)(ix)(A) through (C) of this section, a Board-regulated institution may exclude from its total leverage exposure a clearing member's exposure to a clearing member client for a derivative contract, if the clearing member client and the clearing member are affiliates and consolidated for financial reporting purposes on the Board-regulated institution's balance sheet. (x) A custodial banking organization shall exclude from its total leverage exposure the lesser of: (A) The amount of funds that the custodial banking organization has on deposit at a qualifying central bank; and (B) The amount of funds in deposit accounts at the custodial banking organization that are linked to fiduciary or custodial and safekeeping accounts at the custodial banking organization. For purposes of this paragraph (c)(2)(x), a deposit account is linked to a fiduciary or custodial and safekeeping account if the deposit account is provided to a client that maintains a fiduciary or custodial and safekeeping account with the custodial banking organization, and the deposit account is used to facilitate the administration of the fiduciary or custodial and safekeeping account. (d) Advanced approaches capital ratio calculations. An advanced approaches Board-regulated institution that has [[Page 445]] completed the parallel run process and received notification from the Board pursuant to Sec. 217.121(d) must determine its regulatory capital ratios as described in paragraphs (d)(1) through (3) of this section. (1) Common equity tier 1 capital ratio. The Board-regulated institution's common equity tier 1 capital ratio is the lower of: (i) The ratio of the Board-regulated institution's common equity tier 1 capital to standardized total risk-weighted assets; and (ii) The ratio of the Board-regulated institution's common equity tier 1 capital to advanced approaches total risk-weighted assets. (2) Tier 1 capital ratio. The Board-regulated institution's tier 1 capital ratio is the lower of: (i) The ratio of the Board-regulated institution's tier 1 capital to standardized total risk-weighted assets; and (ii) The ratio of the Board-regulated institution's tier 1 capital to advanced approaches total risk-weighted assets. (3) Total capital ratio. The Board-regulated institution's total capital ratio is the lower of: (i) The ratio of the Board-regulated institution's total capital to standardized total risk-weighted assets; and (ii) The ratio of the Board-regulated institution's advanced- approaches-adjusted total capital to advanced approaches total risk- weighted assets. A Board-regulated institution's advanced-approaches- adjusted total capital is the Board-regulated institution's total capital after being adjusted as follows: (A) An advanced approaches Board-regulated institution must deduct from its total capital any allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, included in its tier 2 capital in accordance with Sec. 217.20(d)(3); and (B) An advanced approaches Board-regulated institution must add to its total capital any eligible credit reserves that exceed the Board- regulated institution's total expected credit losses to the extent that the excess reserve amount does not exceed 0.6 percent of the Board- regulated institution's credit risk-weighted assets. (e) Capital adequacy. (1) Notwithstanding the minimum requirements in this part, a Board-regulated institution must maintain capital commensurate with the level and nature of all risks to which the Board- regulated institution is exposed. The supervisory evaluation of the Board-regulated institution's capital adequacy is based on an individual assessment of numerous factors, including the character and condition of the institution's assets and its existing and prospective liabilities and other corporate responsibilities. (2) A Board-regulated institution must have a process for assessing its overall capital adequacy in relation to its risk profile and a comprehensive strategy for maintaining an appropriate level of capital. (f) Insurance depository institution holding companies. Notwithstanding paragraphs (a) through (d) of this section: (1) An insurance bank holding company that is a state-regulated insurer, or an insurance savings and loan holding company that is a state-regulated insurer, is not required to meet the minimum capital ratio requirements in paragraphs (a)(1)(i) through (iii) of this section if the company is subject to subpart J of this part; and (2) A Board-regulated institution that is an insurance bank holding company, insurance savings and loan holding company, or insurance mid- tier holding company is not required to meet the minimum capital ratio requirements in paragraphs (a)(1)(iv) and (v) of this section. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62286, Oct. 11, 2013; 79 FR 57744, Sept. 26, 2014; 80 FR 41419, July 15, 2015; 84 FR 4242, Feb. 14, 2019; 84 FR 35259, July 22, 2019; 84 FR 59271, Nov. 1, 2019; 84 FR 61797, Nov. 13, 2019; 85 FR 4416, Jan. 24, 2020; 85 FR 4578, Jan. 27, 2020; 85 FR 57961, Sept. 17, 2020; 86 FR 732, Jan. 6, 2021; 88 FR 82969, Nov. 27, 2023] Sec. 217.11 Capital conservation buffer, countercyclical capital buffer amount, and GSIB surcharge. (a) Capital conservation buffer--(1) Composition of the capital conservation buffer. The capital conservation buffer is composed solely of common equity tier 1 capital. [[Page 446]] (2) Definitions. For purposes of this section, the following definitions apply: (i) Eligible retained income. The eligible retained income of a Board-regulated institution is the greater of: (A) The Board-regulated institution's net income, calculated in accordance with the instructions to the FR Y-9C or Call Report, as applicable, for the four calendar quarters preceding the current calendar quarter, net of any distributions and associated tax effects not already reflected in net income; and (B) The average of the Board-regulated institution's net income, calculated in accordance with the instructions to the FR Y-9C or Call Report, as applicable, for the four calendar quarters preceding the current calendar quarter. (ii) Maximum payout amount. A Board-regulated institution's maximum payout amount for the current calendar quarter is equal to the Board- regulated institution's eligible retained income, multiplied by its maximum payout ratio. (iii) Maximum payout ratio. The maximum payout ratio is the percentage of eligible retained income that a Board-regulated institution can pay out in the form of distributions and discretionary bonus payments during the current calendar quarter. For a Board- regulated institution that is not subject to 12 CFR 225.8 or 238.170, the maximum payout ratio is determined by the Board-regulated institution's capital conservation buffer, calculated as of the last day of the previous calendar quarter, as set forth in Table 1 to paragraph (a)(4)(iv) of this section. For a Board-regulated institution that is subject to 12 CFR 225.8 or 238.170, the maximum payout ratio is determined under paragraph (c)(1)(ii) of this section. (iv) Private sector credit exposure. Private sector credit exposure means an exposure to a company or an individual that is not an exposure to a sovereign, the Bank for International Settlements, the European Central Bank, the European Commission, the European Stability Mechanism, the European Financial Stability Facility, the International Monetary Fund, a MDB, a PSE, or a GSE. (v) Leverage buffer requirement. A bank holding company's leverage buffer requirement is 2.0 percent. (vi) Stress capital buffer requirement. (A) The stress capital buffer requirement for a Board-regulated institution subject to 12 CFR 225.8 or 238.170 is the stress capital buffer requirement determined under 12 CFR 225.8 or 238.170 except as provided in paragraph (a)(2)(vi)(B) of this section. (B) If a Board-regulated institution subject to 12 CFR 225.8 or 238.170 has not yet received a stress capital buffer requirement, its stress capital buffer requirement for purposes of this part is 2.5 percent. (3) Calculation of capital conservation buffer. (i) A Board- regulated institution that is not subject to 12 CFR 225.8 or 238.170 has a capital conservation buffer equal to the lowest of the following ratios, calculated as of the last day of the previous calendar quarter: (A) The Board-regulated institution's common equity tier 1 capital ratio minus the Board-regulated institution's minimum common equity tier 1 capital ratio requirement under Sec. 217.10; (B) The Board-regulated institution's tier 1 capital ratio minus the Board-regulated institution's minimum tier 1 capital ratio requirement under Sec. 217.10; and (C) The Board-regulated institution's total capital ratio minus the Board-regulated institution's minimum total capital ratio requirement under Sec. 217.10; or (ii) Notwithstanding paragraphs (a)(3)(i)(A) through (C) of this section, if a Board-regulated institution's common equity tier 1, tier 1 or total capital ratio is less than or equal to the Board-regulated institution's minimum common equity tier 1, tier 1 or total capital ratio requirement under Sec. 217.10, respectively, the Board-regulated institution's capital conservation buffer is zero. (4) Limits on distributions and discretionary bonus payments. (i) A Board-regulated institution that is not subject 12 CFR 225.8 or 238.170 shall not make distributions or discretionary bonus payments or create an obligation to make such distributions or payments during [[Page 447]] the current calendar quarter that, in the aggregate, exceed its maximum payout amount. (ii) A Board-regulated institution that is not subject 12 CFR 225.8 or 238.170 and that has a capital conservation buffer that is greater than 2.5 percent plus 100 percent of its applicable countercyclical capital buffer amount in accordance with paragraph (b) of this section is not subject to a maximum payout amount under paragraph (a)(2)(ii) of this section. (iii) Except as provided in paragraph (a)(4)(iv) of this section, a Board-regulated institution that is not subject to 12 CFR 225.8 or 238.170 may not make distributions or discretionary bonus payments during the current calendar quarter if the Board-regulated institution's: (A) Eligible retained income is negative; and (B) Capital conservation buffer was less than 2.5 percent as of the end of the previous calendar quarter. (iv) Prior approval--notwithstanding the limitations in paragraphs (a)(4)(i) through (iii) of this section, the Board may permit a Board- regulated institution that is not subject to 12 CFR 225.8 or 238.170 to make a distribution or discretionary bonus payment upon a request of the Board-regulated institution, if the Board determines that the distribution or discretionary bonus payment would not be contrary to the purposes of this section, or to the safety and soundness of the Board- regulated institution. In making such a determination, the Board will consider the nature and extent of the request and the particular circumstances giving rise to the request. Table 1 to Sec. 217.11(a)(4)(iv)--Calculation of Maximum Payout Amount ------------------------------------------------------------------------ Capital conservation buffer Maximum payout ratio ------------------------------------------------------------------------ Greater than 2.5 percent plus 100 percent of the No payout ratio Board-regulated institution's applicable limitation applies. countercyclical capital buffer amount. Less than or equal to 2.5 percent plus 100 60 percent. percent of the Board-regulated institution's applicable countercyclical capital buffer amount, and greater than 1.875 percent plus 75 percent of the Board-regulated institution's applicable countercyclical capital buffer amount. Less than or equal to 1.875 percent plus 75 40 percent. percent of the Board-regulated institution's applicable countercyclical capital buffer amount, and greater than 1.25 percent plus 50 percent of the Board-regulated institution's applicable countercyclical capital buffer amount. Less than or equal to 1.25 percent plus 50 20 percent. percent of the Board-regulated institution's applicable countercyclical capital buffer amount and greater than 0.625 percent plus 25 percent of the Board-regulated institution's applicable countercyclical capital buffer amount. Less than or equal to 0.625 percent plus 25 0 percent. percent of the Board-regulated institution's applicable countercyclical capital buffer amount. ------------------------------------------------------------------------ (v) Other limitations on distributions. Additional limitations on distributions may apply under 12 CFR 225.4 and 263.202 to a Board- regulated institution that is not subject to 12 CFR 225.8 or 238.170. (b) Countercyclical capital buffer amount--(1) General. An advanced approaches Board-regulated institution or a Category III Board-regulated institution must calculate a countercyclical capital buffer amount in accordance with this paragraph (b) for purposes of determining its maximum payout ratio under Table 1 to Sec. 217.11(a)(4)(iv) and, if applicable, Table 2 to Sec. 217.11(c)(4)(iii). (i) Extension of capital conservation buffer. The countercyclical capital buffer amount is an extension of the capital conservation buffer as described in paragraph (a) or (c) of this section, as applicable. (ii) Amount. An advanced approaches Board-regulated institution or a Category III Board-regulated institution has a countercyclical capital buffer amount determined by calculating the weighted average of the countercyclical capital buffer amounts established for the national jurisdictions where the Board-regulated institution's private sector credit exposures are located, as specified in paragraphs (b)(2) and (3) of this section. [[Page 448]] (iii) Weighting. The weight assigned to a jurisdiction's countercyclical capital buffer amount is calculated by dividing the total risk-weighted assets for the Board-regulated institution's private sector credit exposures located in the jurisdiction by the total risk- weighted assets for all of the Board-regulated institution's private sector credit exposures. The methodology a Board-regulated institution uses for determining risk-weighted assets for purposes of this paragraph (b) must be the methodology that determines its risk-based capital ratios under Sec. 217.10. Notwithstanding the previous sentence, the risk-weighted asset amount for a private sector credit exposure that is a covered position under subpart F of this part is its specific risk add-on as determined under Sec. 217.210 multiplied by 12.5. (iv) Location. (A) Except as provided in paragraphs (b)(1)(iv)(B) and (C) of this section, the location of a private sector credit exposure is the national jurisdiction where the borrower is located (that is, where it is incorporated, chartered, or similarly established or, if the borrower is an individual, where the borrower resides). (B) If, in accordance with subpart D or E of this part, the Board- regulated institution has assigned to a private sector credit exposure a risk weight associated with a protection provider on a guarantee or credit derivative, the location of the exposure is the national jurisdiction where the protection provider is located. (C) The location of a securitization exposure is the location of the underlying exposures, or, if the underlying exposures are located in more than one national jurisdiction, the national jurisdiction where the underlying exposures with the largest aggregate unpaid principal balance are located. For purposes of this paragraph (b), the location of an underlying exposure shall be the location of the borrower, determined consistent with paragraph (b)(1)(iv)(A) of this section. (2) Countercyclical capital buffer amount for credit exposures in the United States--(i) Initial countercyclical capital buffer amount with respect to credit exposures in the United States. The initial countercyclical capital buffer amount in the United States is zero. (ii) Adjustment of the countercyclical capital buffer amount. The Board will adjust the countercyclical capital buffer amount for credit exposures in the United States in accordance with applicable law.\1\ --------------------------------------------------------------------------- \1\ The Board expects that any adjustment will be based on a determination made jointly by the Board, OCC, and FDIC. --------------------------------------------------------------------------- (iii) Range of countercyclical capital buffer amount. The Board will adjust the countercyclical capital buffer amount for credit exposures in the United States between zero percent and 2.5 percent of risk-weighted assets. (iv) Adjustment determination. The Board will base its decision to adjust the countercyclical capital buffer amount under this section on a range of macroeconomic, financial, and supervisory information indicating an increase in systemic risk including, but not limited to, the ratio of credit to gross domestic product, a variety of asset prices, other factors indicative of relative credit and liquidity expansion or contraction, funding spreads, credit condition surveys, indices based on credit default swap spreads, options implied volatility, and measures of systemic risk. (v) Effective date of adjusted countercyclical capital buffer amount--(A) Increase adjustment. A determination by the Board under paragraph (b)(2)(ii) of this section to increase the countercyclical capital buffer amount will be effective 12 months from the date of announcement, unless the Board establishes an earlier effective date and includes a statement articulating the reasons for the earlier effective date. (B) Decrease adjustment. A determination by the Board to decrease the established countercyclical capital buffer amount under paragraph (b)(2)(ii) of this section will be effective on the day following announcement of the final determination or the earliest date permissible under applicable law or regulation, whichever is later. (vi) Twelve month sunset. The countercyclical capital buffer amount will return to zero percent 12 months after the effective date that the adjusted countercyclical capital buffer amount [[Page 449]] is announced, unless the Board announces a decision to maintain the adjusted countercyclical capital buffer amount or adjust it again before the expiration of the 12-month period. (3) Countercyclical capital buffer amount for foreign jurisdictions. The Board will adjust the countercyclical capital buffer amount for private sector credit exposures to reflect decisions made by foreign jurisdictions consistent with due process requirements described in paragraph (b)(2) of this section. (c) Calculation of buffers for Board-regulated institutions subject to 12 CFR 225.8 or 238.170--(1) Limits on distributions and discretionary bonus payments. (i) A Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 shall not make distributions or discretionary bonus payments or create an obligation to make such distributions or payments during the current calendar quarter that, in the aggregate, exceed its maximum payout amount. (ii) Maximum payout ratio. The maximum payout ratio of a Board- regulated institution that is subject to 12 CFR 225.8 or 238.170 is the lowest of the payout ratios determined by its standardized approach capital conservation buffer; if applicable, advanced approaches capital conservation buffer; and, if applicable, leverage buffer; as set forth in table 2 to Sec. 217.11(c)(4)(iii). (iii) Capital conservation buffer requirements. A Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 has: (A) A standardized approach capital conservation buffer requirement equal to its stress capital buffer requirement plus its applicable countercyclical capital buffer amount in accordance with paragraph (b) of this section plus its applicable GSIB surcharge in accordance with paragraph (d) of this section; and (B) If the Board-regulated institution calculates risk-weighted assets under subpart E of this part, an advanced approaches capital conservation buffer requirement equal to 2.5 percent plus the Board- regulated institution's countercyclical capital buffer amount in accordance with paragraph (b) of this section plus its applicable GSIB surcharge in accordance with paragraph (d) of this section. (iv) No maximum payout amount limitation. A Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 is not subject to a maximum payout amount under paragraph (a)(2)(ii) of this section if it has: (A) A standardized approach capital conservation buffer, calculated under paragraph (c)(2) of this section, that is greater than its standardized approach capital conservation buffer requirement calculated under paragraph (c)(1)(iii)(A) of this section; (B) If applicable, an advanced approaches capital conservation buffer, calculated under paragraph (c)(3) of this section, that is greater than the Board-regulated institution's advanced approaches capital conservation buffer requirement calculated under paragraph (c)(1)(iii)(B) of this section; and (C) If applicable, a leverage buffer, calculated under paragraph (c)(4) of this section, that is greater than its leverage buffer requirement as calculated under paragraph (a)(2)(v) of this section. (v) Negative eligible retained income. Except as provided in paragraph (c)(1)(vi) of this section, a Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 may not make distributions or discretionary bonus payments during the current calendar quarter if, as of the end of the previous calendar quarter, the Board-regulated institution's: (A) Eligible retained income is negative; and (B)(1) Standardized approach capital conservation buffer was less than its stress capital buffer requirement; or (2) If applicable, advanced approaches capital conservation buffer was less than 2.5 percent; or (3) If applicable, leverage buffer was less than its leverage buffer requirement. (vi) Prior approval. Notwithstanding the limitations in paragraphs (c)(1)(i) through (v) of this section, the Board may permit a Board- regulated institution that is subject to 12 CFR 225.8 or 238.170 to make a distribution or discretionary bonus payment upon a request of the Board-regulated institution, if [[Page 450]] the Board determines that the distribution or discretionary bonus payment would not be contrary to the purposes of this section, or to the safety and soundness of the Board-regulated institution. In making such a determination, the Board will consider the nature and extent of the request and the particular circumstances giving rise to the request. (vii) Other limitations on distributions. Additional limitations on distributions may apply under 12 CFR 225.4, 225.8, 238.170, 252.63, 252.165, and 263.202 to a Board-regulated institution that is subject to 12 CFR 225.8 or 238.170. (2) Standardized approach capital conservation buffer. (i) The standardized approach capital conservation buffer for Board-regulated institutions subject to 12 CFR 225.8 or 238.170 is composed solely of common equity tier 1 capital. (ii) A Board-regulated institution that is subject to 12 CFR 225.8 or 238.170 has a standardized approach capital conservation buffer that is equal to the lowest of the following ratios, calculated as of the last day of the previous calendar quarter: (A) The ratio calculated by the Board-regulated institution under Sec. 217.10(b)(1) or (c)(1)(i), as applicable, minus the Board- regulated institution's minimum common equity tier 1 capital ratio requirement under Sec. 217.10(a); (B) The ratio calculated by the Board-regulated institution under Sec. 217.10(b)(2) or (c)(2)(i), as applicable, minus the Board- regulated institution's minimum tier 1 capital ratio requirement under Sec. 217.10(a); and (C) The ratio calculated by the Board-regulated institution under Sec. 217.10(b)(3) or (c)(3)(i), as applicable, minus the Board- regulated institution's minimum total capital ratio requirement under Sec. 217.10(a). (iii) Notwithstanding paragraph (c)(2)(ii) of this section, if any of the ratios calculated by the Board-regulated institution under Sec. 217.10(b)(1), (2), or (3), or if applicable Sec. 217.10(c)(1)(i), (c)(2)(i), or (c)(3)(i) is less than or equal to the Board-regulated institution's minimum common equity tier 1 capital ratio, tier 1 capital ratio, or total capital ratio requirement under Sec. 217.10(a), respectively, the Board-regulated institution's capital conservation buffer is zero. (3) Advanced approaches capital conservation buffer. (i) The advanced approaches capital conservation buffer is composed solely of common equity tier 1 capital. (ii) A Board-regulated institution that calculates risk-weighted assets under subpart E has an advanced approaches capital conservation buffer that is equal to the lowest of the following ratios, calculated as of the last day of the previous calendar quarter: (A) The ratio calculated by the Board-regulated institution under Sec. 217.10(c)(1)(ii) minus the Board-regulated institution's minimum common equity tier 1 capital ratio requirement under Sec. 217.10(a); (B) The ratio calculated by the Board-regulated institution under Sec. 217.10(c)(2)(ii) minus the Board-regulated institution's minimum tier 1 capital ratio requirement under Sec. 217.10(a); and (C) The ratio calculated by the Board-regulated institution under Sec. 217.10(c)(3)(ii) minus the Board-regulated institution's minimum total capital ratio requirement under Sec. 217.10(a). (iii) Notwithstanding paragraph (c)(3)(ii) of this section, if any of the ratios calculated by the Board-regulated institution under Sec. 217.10(c)(1)(ii), (c)(2)(ii), or (c)(3)(ii) is less than or equal to the Board-regulated institution's minimum common equity tier 1 capital ratio, tier 1 capital ratio, or total capital ratio requirement under Sec. 217.10(a), respectively, the Board-regulated institution's advanced approaches capital conservation buffer is zero. (4) Leverage buffer. (i) The leverage buffer is composed solely of tier 1 capital. (ii) A global systemically important BHC has a leverage buffer that is equal to the global systemically important BHC's supplementary leverage ratio minus 3 percent, calculated as of the last day of the previous calendar quarter. (iii) Notwithstanding paragraph (c)(4)(ii) of this section, if the global systemically important BHC's supplementary leverage ratio is less than or [[Page 451]] equal to 3 percent, the global systemically important BHC's leverage buffer is zero. Table 2 to Sec. 217.11(c)(4)(iii)--Calculation of Maximum Payout Ratio ------------------------------------------------------------------------ Capital buffer \1\ Payout ratio ------------------------------------------------------------------------ Greater than the Board-regulated institution's No payout ratio buffer requirement \2\. limitation applies. Less than or equal to 100 percent of the Board- 60 percent. regulated institution's buffer requirement, and greater than 75 percent of the Board-regulated institution's buffer requirement. Less than or equal to 75 percent of the Board- 40 percent. regulated institution's buffer requirement, and greater than 50 percent of the bank holding company's buffer requirement. Less than or equal to 50 percent of the Board- 20 percent. regulated institution's buffer requirement, and greater than 25 percent of the Board-regulated institution's buffer requirement. Less than or equal to 25 percent of the Board- 0 percent. regulated institution's buffer requirement. ------------------------------------------------------------------------ \1\ A Board-regulated institution's ``capital buffer'' means each of, as applicable, its standardized approach capital conservation buffer, advanced approaches capital conservation buffer, and leverage buffer. \2\ A Board-regulated institution's ``buffer requirement'' means each of, as applicable, its standardized approach capital conservation buffer requirement, advanced approaches capital conservation buffer requirement, and leverage buffer requirement. (d) GSIB surcharge. A global systemically important BHC must use its GSIB surcharge calculated in accordance with subpart H of this part for purposes of determining its maximum payout ratio under Table 2 to Sec. 217.11(c)(4)(iii). (e) Insurance depository institution holding companies. Notwithstanding any other provision of this section: (1) A Board-regulated institution that is an insurance bank holding company that is subject to subpart J of this part calculates its capital conservation buffer in accordance with Sec. 217.604; (2) A Board-regulated institution that is an insurance savings and loan holding company that is subject to subpart J of this part calculates its capital conservation buffer in accordance with Sec. 217.604; and (3) A Board-regulated institution that is an insurance mid-tier holding company is not subject to the provisions of this section. [Reg. Q, 85 FR 15596, Mar. 18, 2020, as amended at 86 FR 3762, Jan. 15, 2021; 86 FR 7938, Feb. 3, 2021; 86 FR 9261, Feb. 12, 2021; 88 FR 82969, Nov. 27, 2023] Sec. 217.12 Community bank leverage ratio framework. (a) Community bank leverage ratio framework. (1) Notwithstanding any other provision in this part, a qualifying community banking organization that has made an election to use the community bank leverage ratio framework under paragraph (a)(3) of this section shall be considered to have met the minimum capital requirements under Sec. 217.10, the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1) of this chapter, and any other capital or leverage requirements to which the qualifying community banking organization is subject, if it has a leverage ratio greater than 9 percent. (2) For purposes of this section, a qualifying community banking organization means a Board-regulated institution that is not an advanced approaches Board-regulated institution and that satisfies all of the following criteria: (i) Has a leverage ratio of greater than 9 percent; (ii) Has total consolidated assets of less than $10 billion, calculated in accordance with the reporting instructions to the Call Report or to Form FR Y-9C, as applicable, as of the end of the most recent calendar quarter; (iii) Has off-balance sheet exposures of 25 percent or less of its total consolidated assets as of the end of the most recent calendar quarter, calculated as the sum of the notional amounts of the exposures listed in paragraphs (a)(2)(iii)(A) through (I) of this section, divided by total consolidated assets, each as of the end of the most recent calendar quarter: (A) The unused portion of commitments (except for unconditionally cancellable commitments); [[Page 452]] (B) Self-liquidating, trade-related contingent items that arise from the movement of goods; (C) Transaction-related contingent items, including performance bonds, bid bonds, warranties, and performance standby letters of credit; (D) Sold credit protection through guarantees and credit derivatives; (E) Credit-enhancing representations and warranties; (F) Securities lent and borrowed, calculated in accordance with the reporting instructions to the Call Report or to Form FR Y-9C, as applicable; (G) Financial standby letters of credit; (H) Forward agreements that are not derivative contracts; and (I) Off-balance sheet securitization exposures; and (iv) Has total trading assets and trading liabilities, calculated in accordance with the reporting instructions to the Call Report or to Form FR Y-9C, as applicable, of 5 percent or less of the Board-regulated institution's total consolidated assets, each as of the end of the most recent calendar quarter. (3)(i) A qualifying community banking organization may elect to use the community bank leverage ratio framework if it makes an opt-in election under this paragraph (a)(3). (ii) For purposes of this paragraph (a)(3), a qualifying community banking organization makes an election to use the community bank leverage ratio framework by completing the applicable reporting requirements of its Call Report or of its Form FR Y-9C, as applicable. (iii)(A) A qualifying community banking organization that has elected to use the community bank leverage ratio framework may opt out of the community bank leverage ratio framework by completing the applicable risk-based and leverage ratio reporting requirements necessary to demonstrate compliance with Sec. 217.10(a)(1) in its Call Report or its Form FR Y-9C, as applicable, or by otherwise providing the information to the Board. (B) A qualifying community banking organization that opts out of the community bank leverage ratio framework pursuant to paragraph (a)(3)(iii)(A) of this section must comply with Sec. 217.10(a)(1) immediately. (4) Temporary relief for 2020 and 2021. (i) Except as provided in paragraph (a)(4)(ii) of this section, from December 2, 2020, through December 31, 2021, for purposes of determining whether a Board-regulated institution satisfies the criterion in paragraph (a)(2)(ii) of this section, the total consolidated assets of a Board-regulated institution for purposes of paragraph (a)(2)(ii) of this section shall be determined based on the lesser of: (A) The total consolidated assets reported by the institution in the Call Report, FR Y-9C, or FR Y-9SP, as applicable, as of December 31, 2019; and (B) The total consolidated assets calculated in accordance with the reporting instructions to the Call Report or to Form FR Y-9C, as applicable, as of the end of the most recent calendar quarter. (ii) The relief provided under this paragraph (a)(4)(i) does not apply to a Board-regulated institution if the Board determines that permitting the Board-regulated institution to determine its assets in accordance with that paragraph would not be commensurate with the risk profile of the Board-regulated institution. When making this determination, the Board will consider all relevant factors, including the extent of asset growth of the Board-regulated institution since December 31, 2019; the causes of such growth, including whether growth occurred as a result of mergers or acquisitions; whether such growth is likely to be temporary or permanent; whether the Board-regulated institution has become involved in any additional activities since December 31, 2019; the asset size of any parent companies; and the type of assets held by the Board-regulated institution. In making a determination pursuant to this paragraph (a)(4)(ii), the Board will apply notice and response procedures in the same manner and to the same extent as the notice and response procedures in 12 CFR 263.202. (b) Calculation of the leverage ratio. A qualifying community banking organization's leverage ratio is calculated in accordance with Sec. 217.10(b)(4), except [[Page 453]] that a qualifying community banking organization is not required to: (1) Make adjustments and deductions from tier 2 capital for purposes of Sec. 217.22(c); or (2) Calculate and deduct from tier 1 capital an amount resulting from insufficient tier 2 capital under Sec. 217.22(f). (c) Treatment when ceasing to meet the qualifying community banking organization requirements. (1) Except as provided in paragraphs (c)(5) and (6) of this section, if an Board-regulated institution ceases to meet the definition of a qualifying community banking organization, the Board-regulated institution has two reporting periods under its Call Report or Form FR Y-9C, as applicable (grace period) either to satisfy the requirements to be a qualifying community banking organization or to comply with Sec. 217.10(a)(1) and report the required capital measures under Sec. 217.10(a)(1) on its Call Report or its Form FR Y-9C, as applicable. (2) The grace period begins as of the end of the calendar quarter in which the Board-regulated institution ceases to satisfy the criteria to be a qualifying community banking organization provided in paragraph (a)(2) of this section. The grace period ends on the last day of the second consecutive calendar quarter following the beginning of the grace period. (3) During the grace period, the Board-regulated institution continues to be treated as a qualifying community banking organization for the purpose of this part and must continue calculating and reporting its leverage ratio under this section unless the Board-regulated institution has opted out of using the community bank leverage ratio framework under paragraph (a)(3) of this section. (4) During the grace period, the qualifying community banking organization continues to be considered to have met the minimum capital requirements under Sec. 217.10(a)(1), the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1)(i)(A) through (D) of this chapter, and any other capital or leverage requirements to which the qualifying community banking organization is subject, and must continue calculating and reporting its leverage ratio under this section. (5) Notwithstanding paragraphs (c)(1) through (4) of this section, a Board-regulated institution that no longer meets the definition of a qualifying community banking organization as a result of a merger or acquisition has no grace period and immediately ceases to be a qualifying community banking organization. Such a Board-regulated institution must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it ceases to be a qualifying community banking organization. (6) Notwithstanding paragraphs (c)(1) through (4) of this section, a Board-regulated institution that has a leverage ratio of 8 percent or less does not have a grace period and must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it reports a leverage ratio of 8 percent or less. [Reg. Q, 84 FR 61797, Nov. 13, 2019, as amended at 85 FR 77361, Dec. 2, 2020] Sec. Sec. 217.13-217.19 [Reserved] Subpart C_Definition of Capital Sec. 217.20 Capital components and eligibility criteria for regulatory capital instruments. (a) Regulatory capital components. A Board-regulated institution's regulatory capital components are: (1) Common equity tier 1 capital; (2) Additional tier 1 capital; and (3) Tier 2 capital. (b) Common equity tier 1 capital. Common equity tier 1 capital is the sum of the common equity tier 1 capital elements in this paragraph (b), minus regulatory adjustments and deductions in Sec. 217.22. The common equity tier 1 capital elements are: (1) Any common stock instruments (plus any related surplus) issued by the Board-regulated institution, net of treasury stock, and any capital instruments issued by mutual banking organizations, that meet all the following criteria: [[Page 454]] (i) The instrument is paid-in, issued directly by the Board- regulated institution, and represents the most subordinated claim in a receivership, insolvency, liquidation, or similar proceeding of the Board-regulated institution; (ii) The holder of the instrument is entitled to a claim on the residual assets of the Board-regulated institution that is proportional with the holder's share of the Board-regulated institution's issued capital after all senior claims have been satisfied in a receivership, insolvency, liquidation, or similar proceeding; (iii) The instrument has no maturity date, can only be redeemed via discretionary repurchases with the prior approval of the Board to the extent otherwise required by law or regulation, and does not contain any term or feature that creates an incentive to redeem; (iv) The Board-regulated institution did not create at issuance of the instrument through any action or communication an expectation that it will buy back, cancel, or redeem the instrument, and the instrument does not include any term or feature that might give rise to such an expectation; (v) Any cash dividend payments on the instrument are paid out of the Board-regulated institution's net income, retained earnings, or surplus related to common stock, and are not subject to a limit imposed by the contractual terms governing the instrument. State member banks are subject to other legal restrictions on reductions in capital resulting from cash dividends, including out of the capital surplus account, under 12 U.S.C. 324 and 12 CFR 208.5. (vi) The Board-regulated institution has full discretion at all times to refrain from paying any dividends and making any other distributions on the instrument without triggering an event of default, a requirement to make a payment-in-kind, or an imposition of any other restrictions on the Board-regulated institution; (vii) Dividend payments and any other distributions on the instrument may be paid only after all legal and contractual obligations of the Board-regulated institution have been satisfied, including payments due on more senior claims; (viii) The holders of the instrument bear losses as they occur equally, proportionately, and simultaneously with the holders of all other common stock instruments before any losses are borne by holders of claims on the Board-regulated institution with greater priority in a receivership, insolvency, liquidation, or similar proceeding; (ix) The paid-in amount is classified as equity under GAAP; (x) The Board-regulated institution, or an entity that the Board- regulated institution controls, did not purchase or directly or indirectly fund the purchase of the instrument; (xi) The instrument is not secured, not covered by a guarantee of the Board-regulated institution or of an affiliate of the Board- regulated institution, and is not subject to any other arrangement that legally or economically enhances the seniority of the instrument; (xii) The instrument has been issued in accordance with applicable laws and regulations; and (xiii) The instrument is reported on the Board-regulated institution's regulatory financial statements separately from other capital instruments. (2) Retained earnings. (3) Accumulated other comprehensive income (AOCI) as reported under GAAP.\11\ --------------------------------------------------------------------------- \11\ See Sec. 217.22 for specific adjustments related to AOCI. --------------------------------------------------------------------------- (4) Any common equity tier 1 minority interest, subject to the limitations in Sec. 217.21. (5) Notwithstanding the criteria for common stock instruments referenced above, a Board-regulated institution's common stock issued and held in trust for the benefit of its employees as part of an employee stock ownership plan does not violate any of the criteria in paragraph (b)(1)(iii), paragraph (b)(1)(iv) or paragraph (b)(1)(xi) of this section, provided that any repurchase of the stock is required solely by virtue of ERISA for an instrument of a Board-regulated institution that is not publicly-traded. In addition, an instrument issued by a Board-regulated institution [[Page 455]] to its employee stock ownership plan does not violate the criterion in paragraph (b)(1)(x) of this section. (c) Additional tier 1 capital. Additional tier 1 capital is the sum of additional tier 1 capital elements and any related surplus, minus the regulatory adjustments and deductions in Sec. 217.22. Additional tier 1 capital elements are: (1) Instruments (plus any related surplus) that meet the following criteria: (i) The instrument is issued and paid-in; (ii) The instrument is subordinated to depositors, general creditors, and subordinated debt holders of the Board-regulated institution in a receivership, insolvency, liquidation, or similar proceeding; (iii) The instrument is not secured, not covered by a guarantee of the Board-regulated institution or of an affiliate of the Board- regulated institution, and not subject to any other arrangement that legally or economically enhances the seniority of the instrument; (iv) The instrument has no maturity date and does not contain a dividend step-up or any other term or feature that creates an incentive to redeem; and (v) If callable by its terms, the instrument may be called by the Board-regulated institution only after a minimum of five years following issuance, except that the terms of the instrument may allow it to be called earlier than five years upon the occurrence of a regulatory event that precludes the instrument from being included in additional tier 1 capital, a tax event, or if the issuing entity is required to register as an investment company pursuant to the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.). In addition: (A) The Board-regulated institution must receive prior approval from the Board to exercise a call option on the instrument. (B) The Board-regulated institution does not create at issuance of the instrument, through any action or communication, an expectation that the call option will be exercised. (C) Prior to exercising the call option, or immediately thereafter, the Board-regulated institution must either: Replace the instrument to be called with an equal amount of instruments that meet the criteria under paragraph (b) of this section or this paragraph (c); \12\ or demonstrate to the satisfaction of the Board that following redemption, the Board-regulated institution will continue to hold capital commensurate with its risk. --------------------------------------------------------------------------- \12\ Replacement can be concurrent with redemption of existing additional tier 1 capital instruments. --------------------------------------------------------------------------- (vi) Redemption or repurchase of the instrument requires prior approval from the Board. (vii) The Board-regulated institution has full discretion at all times to cancel dividends or other distributions on the instrument without triggering an event of default, a requirement to make a payment- in-kind, or an imposition of other restrictions on the Board-regulated institution except in relation to any distributions to holders of common stock or instruments that are pari passu with the instrument. (viii) Any distributions on the instrument are paid out of the Board-regulated institution's net income, retained earnings, or surplus related to other additional tier 1 capital instruments. State member banks are subject to other legal restrictions on reductions in capital resulting from cash dividends, including out of the capital surplus account, under 12 U.S.C. 324 and 12 CFR 208.5. (ix) The instrument does not have a credit-sensitive feature, such as a dividend rate that is reset periodically based in whole or in part on the Board-regulated institution's credit quality, but may have a dividend rate that is adjusted periodically independent of the Board- regulated institution's credit quality, in relation to general market interest rates or similar adjustments. (x) The paid-in amount is classified as equity under GAAP. (xi) The Board-regulated institution, or an entity that the Board- regulated institution controls, did not purchase or directly or indirectly fund the purchase of the instrument. (xii) The instrument does not have any features that would limit or discourage additional issuance of capital by the Board-regulated institution, [[Page 456]] such as provisions that require the Board-regulated institution to compensate holders of the instrument if a new instrument is issued at a lower price during a specified time frame. (xiii) If the instrument is not issued directly by the Board- regulated institution or by a subsidiary of the Board-regulated institution that is an operating entity, the only asset of the issuing entity is its investment in the capital of the Board-regulated institution, and proceeds must be immediately available without limitation to the Board-regulated institution or to the Board-regulated institution's top-tier holding company in a form which meets or exceeds all of the other criteria for additional tier 1 capital instruments.\13\ --------------------------------------------------------------------------- \13\ De minimis assets related to the operation of the issuing entity can be disregarded for purposes of this criterion. --------------------------------------------------------------------------- (xiv) For an advanced approaches Board-regulated institution, the governing agreement, offering circular, or prospectus of an instrument issued after the date upon which the Board-regulated institution becomes subject to this part as set forth in Sec. 217.1(f) must disclose that the holders of the instrument may be fully subordinated to interests held by the U.S. government in the event that the Board-regulated institution enters into a receivership, insolvency, liquidation, or similar proceeding. (2) Tier 1 minority interest, subject to the limitations in Sec. 217.21, that is not included in the Board-regulated institution's common equity tier 1 capital. (3)(i) Any and all instruments that qualified as tier 1 capital under the Board's general risk-based capital rules under 12 CFR part 208, appendix A or 12 CFR part 225, appendix A, as then in effect, that were issued under the Small Business Jobs Act of 2010 \14\ or prior to October 4, 2010, under the Emergency Economic Stabilization Act of 2008.\15\ --------------------------------------------------------------------------- \14\ Public Law 111-240; 124 Stat. 2504 (2010). \15\ Public Law 110-343, 122 Stat. 3765 (2008). --------------------------------------------------------------------------- (ii) Any preferred stock instrument issued under the U.S. Department of the Treasury's Emergency Capital Investment Program pursuant to section 104A of the Community Development Banking and Financial Institutions Act of 1994, added by the Consolidated Appropriations Act, 2021.\16\ --------------------------------------------------------------------------- \16\ Public Law 116-260. --------------------------------------------------------------------------- (4) Notwithstanding the criteria for additional tier 1 capital instruments referenced above: (i) An instrument issued by a Board-regulated institution and held in trust for the benefit of its employees as part of an employee stock ownership plan does not violate any of the criteria in paragraph (c)(1)(iii) of this section, provided that any repurchase is required solely by virtue of ERISA for an instrument of a Board-regulated institution that is not publicly-traded. In addition, an instrument issued by a Board-regulated institution to its employee stock ownership plan does not violate the criteria in paragraph (c)(1)(v) or paragraph (c)(1)(xi) of this section; and (ii) An instrument with terms that provide that the instrument may be called earlier than five years upon the occurrence of a rating agency event does not violate the criterion in paragraph (c)(1)(v) of this section provided that the instrument was issued and included in a Board- regulated institution's tier 1 capital prior to January 1, 2014, and that such instrument satisfies all other criteria under this Sec. 217.20(c). (d) Tier 2 Capital. Tier 2 capital is the sum of tier 2 capital elements and any related surplus, minus regulatory adjustments and deductions in Sec. 217.22. Tier 2 capital elements are: (1) Instruments (plus related surplus) that meet the following criteria: (i) The instrument is issued and paid-in; (ii) The instrument is subordinated to depositors and general creditors of the Board-regulated institution; (iii) The instrument is not secured, not covered by a guarantee of the Board-regulated institution or of an affiliate of the Board- regulated institution, and not subject to any other arrangement that legally or economically enhances the seniority of the instrument in relation to more senior claims; (iv) The instrument has a minimum original maturity of at least five years. At the beginning of each of the last five years of the life of the instrument, [[Page 457]] the amount that is eligible to be included in tier 2 capital is reduced by 20 percent of the original amount of the instrument (net of redemptions) and is excluded from regulatory capital when the remaining maturity is less than one year. In addition, the instrument must not have any terms or features that require, or create significant incentives for, the Board-regulated institution to redeem the instrument prior to maturity; \16\ and --------------------------------------------------------------------------- \16\ An instrument that by its terms automatically converts into a tier 1 capital instrument prior to five years after issuance complies with the five-year maturity requirement of this criterion. --------------------------------------------------------------------------- (v) The instrument, by its terms, may be called by the Board- regulated institution only after a minimum of five years following issuance, except that the terms of the instrument may allow it to be called sooner upon the occurrence of an event that would preclude the instrument from being included in tier 2 capital, a tax event, or if the issuing entity is required to register as an investment company pursuant to the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.). In addition: (A) The Board-regulated institution must receive the prior approval of the Board to exercise a call option on the instrument. (B) The Board-regulated institution does not create at issuance, through action or communication, an expectation the call option will be exercised. (C) Prior to exercising the call option, or immediately thereafter, the Board-regulated institution must either: Replace any amount called with an equivalent amount of an instrument that meets the criteria for regulatory capital under this section; \17\ or demonstrate to the satisfaction of the Board that following redemption, the Board-regulated institution would continue to hold an amount of capital that is commensurate with its risk. --------------------------------------------------------------------------- \17\ A Board-regulated institution may replace tier 2 capital instruments concurrent with the redemption of existing tier 2 capital instruments. --------------------------------------------------------------------------- (vi) The holder of the instrument must have no contractual right to accelerate payment of principal or interest on the instrument, except in the event of a receivership, insolvency, liquidation, or similar proceeding of the state member bank or depository institution holding company, as applicable, or of a major subsidiary depository institution of the depository institution holding company. (vii) The instrument has no credit-sensitive feature, such as a dividend or interest rate that is reset periodically based in whole or in part on the Board-regulated institution's credit standing, but may have a dividend rate that is adjusted periodically independent of the Board-regulated institution's credit standing, in relation to general market interest rates or similar adjustments. (viii) The Board-regulated institution, or an entity that the Board- regulated institution controls, has not purchased and has not directly or indirectly funded the purchase of the instrument. (ix) If the instrument is not issued directly by the Board-regulated institution or by a subsidiary of the Board-regulated institution that is an operating entity, the only asset of the issuing entity is its investment in the capital of the Board-regulated institution, and proceeds must be immediately available without limitation to the Board- regulated institution or the Board-regulated institution's top-tier holding company in a form that meets or exceeds all the other criteria for tier 2 capital instruments under this section.\18\ --------------------------------------------------------------------------- \18\ A Board-regulated institution may disregard de minimis assets related to the operation of the issuing entity for purposes of this criterion. --------------------------------------------------------------------------- (x) Redemption of the instrument prior to maturity or repurchase requires the prior approval of the Board. (xi) For an advanced approaches Board-regulated institution, the governing agreement, offering circular, or prospectus of an instrument issued after the date on which the advanced approaches Board-regulated institution becomes subject to this part under Sec. 217.1(f) must disclose that the holders of the instrument may be fully subordinated to interests held by the U.S. government in the event that the Board- [[Page 458]] regulated institution enters into a receivership, insolvency, liquidation, or similar proceeding. (2) Total capital minority interest, subject to the limitations set forth in Sec. 217.21, that is not included in the Board-regulated institution's tier 1 capital. (3) ALLL or AACL, as applicable, up to 1.25 percent of the Board- regulated institution's standardized total risk-weighted assets not including any amount of the ALLL or AACL, as applicable (and excluding in the case of a market risk Board-regulated institution, its standardized market risk-weighted assets). (4)(i) Any instrument that qualified as tier 2 capital under the Board's general risk-based capital rules under 12 CFR part 208, appendix A, 12 CFR part 225, appendix A as then in effect, that were issued under the Small Business Jobs Act of 2010,\19\ or prior to October 4, 2010, under the Emergency Economic Stabilization Act of 2008.\20\ --------------------------------------------------------------------------- \19\ Public Law 111-240; 124 Stat. 2504 (2010). \20\ Public Law 110-343, 122 Stat. 3765 (2008). --------------------------------------------------------------------------- (ii) Any debt instrument issued under the U.S. Department of the Treasury's Emergency Capital Investment Program pursuant to section 104A of the Community Development Banking and Financial Institutions Act of 1994, added by the Consolidated Appropriations Act, 2021.\21\ --------------------------------------------------------------------------- \21\ Public Law 116-260. --------------------------------------------------------------------------- (5) For a Board-regulated institution that makes an AOCI opt-out election (as defined in paragraph (b)(2) of Sec. 217.22), 45 percent of pretax net unrealized gains on available-for-sale preferred stock classified as an equity security under GAAP and available-for-sale equity exposures. (6) Notwithstanding the criteria for tier 2 capital instruments referenced above, an instrument with terms that provide that the instrument may be called earlier than five years upon the occurrence of a rating agency event does not violate the criterion in paragraph (d)(1)(v) of this section provided that the instrument was issued and included in a Board-regulated institution's tier 1 or tier 2 capital prior to January 1, 2014, and that such instrument satisfies all other criteria under this paragraph (d). (e) Board approval of a capital element. (1) A Board-regulated institution must receive Board prior approval to include a capital element (as listed in this section) in its common equity tier 1 capital, additional tier 1 capital, or tier 2 capital unless the element: (i) Was included in a Board-regulated institution's tier 1 capital or tier 2 capital prior to May 19, 2010 in accordance with the Board's risk-based capital rules that were effective as of that date and the underlying instrument may continue to be included under the criteria set forth in this section; or (ii) Is equivalent, in terms of capital quality and ability to absorb losses with respect to all material terms, to a regulatory capital element the Board determined may be included in regulatory capital pursuant to paragraph (e)(3) of this section. (2) When considering whether a Board-regulated institution may include a regulatory capital element in its common equity tier 1 capital, additional tier 1 capital, or tier 2 capital, the Federal Reserve Board will consult with the FDIC and OCC. (3) After determining that a regulatory capital element may be included in a Board-regulated institution's common equity tier 1 capital, additional tier 1 capital, or tier 2 capital, the Board will make its decision publicly available, including a brief description of the material terms of the regulatory capital element and the rationale for the determination. (f) A Board-regulated institution may not repurchase or redeem any common equity tier 1 capital, additional tier 1, or tier 2 capital instrument without the prior approval of the Board to the extent such prior approval is required by paragraph (b), (c), or (d) of this section, as applicable. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62286, Oct. 11, 2013; 78 FR 76973, Dec. 20, 2013; 79 FR 78295, Dec. 30, 2014; 84 FR 4242, Feb. 14, 2019; 84 FR 35260, July 22, 2019; 86 FR 15080, Mar. 22, 2021] Sec. 217.21 Minority interest. (a)(1) Applicability. For purposes of Sec. 217.20, a Board- regulated institution that is not an advanced approaches [[Page 459]] Board-regulated institution is subject to the minority interest limitations in this paragraph (a) if a consolidated subsidiary of the Board-regulated institution has issued regulatory capital that is not owned by the Board-regulated institution. (2) Common equity tier 1 minority interest includable in the common equity tier 1 capital of the Board-regulated institution. The amount of common equity tier 1 minority interest that a Board-regulated institution may include in common equity tier 1 capital must be no greater than 10 percent of the sum of all common equity tier 1 capital elements of the Board-regulated institution (not including the common equity tier 1 minority interest itself), less any common equity tier 1 capital regulatory adjustments and deductions in accordance with Sec. 217.22 (a) and (b). (3) Tier 1 minority interest includable in the tier 1 capital of the Board-regulated institution. The amount of tier 1 minority interest that a Board-regulated institution may include in tier 1 capital must be no greater than 10 percent of the sum of all tier 1 capital elements of the Board-regulated institution (not including the tier 1 minority interest itself), less any tier 1 capital regulatory adjustments and deductions in accordance with Sec. 217.22(a) and (b). (4) Total capital minority interest includable in the total capital of the Board-regulated institution. The amount of total capital minority interest that a Board-regulated institution may include in total capital must be no greater than 10 percent of the sum of all total capital elements of the Board-regulated institution (not including the total capital minority interest itself), less any total capital regulatory adjustments and deductions in accordance with Sec. 217.22(a) and (b). (b)(1) Applicability. For purposes of Sec. 217.20, an advanced approaches Board-regulated institution is subject to the minority interest limitations in this paragraph (b) if: (i) A consolidated subsidiary of the advanced approaches Board- regulated institution has issued regulatory capital that is not owned by the Board-regulated institution; and (ii) For each relevant regulatory capital ratio of the consolidated subsidiary, the ratio exceeds the sum of the subsidiary's minimum regulatory capital requirements plus its capital conservation buffer. (2) Difference in capital adequacy standards at the subsidiary level. For purposes of the minority interest calculations in this section, if the consolidated subsidiary issuing the capital is not subject to capital adequacy standards similar to those of the advanced approaches Board-regulated institution, the advanced approaches Board- regulated institution must assume that the capital adequacy standards of the advanced approaches Board-regulated institution apply to the subsidiary. (3) Common equity tier 1 minority interest includable in the common equity tier 1 capital of the Board-regulated institution. For each consolidated subsidiary of an advanced approaches Board-regulated institution, the amount of common equity tier 1 minority interest the advanced approaches Board-regulated institution may include in common equity tier 1 capital is equal to: (i) The common equity tier 1 minority interest of the subsidiary; minus (ii) The percentage of the subsidiary's common equity tier 1 capital that is not owned by the advanced approaches Board-regulated institution, multiplied by the difference between the common equity tier 1 capital of the subsidiary and the lower of: (A) The amount of common equity tier 1 capital the subsidiary must hold, or would be required to hold pursuant this paragraph (b), to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor; or (B)(1) The standardized total risk-weighted assets of the advanced approaches Board-regulated institution that relate to the subsidiary multiplied by (2) The common equity tier 1 capital ratio the subsidiary must maintain to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor. (4) Tier 1 minority interest includable in the tier 1 capital of the advanced approaches Board-regulated institution. For [[Page 460]] each consolidated subsidiary of the advanced approaches Board-regulated institution, the amount of tier 1 minority interest the advanced approaches Board-regulated institution may include in tier 1 capital is equal to: (i) The tier 1 minority interest of the subsidiary; minus (ii) The percentage of the subsidiary's tier 1 capital that is not owned by the advanced approaches Board-regulated institution multiplied by the difference between the tier 1 capital of the subsidiary and the lower of: (A) The amount of tier 1 capital the subsidiary must hold, or would be required to hold pursuant to this paragraph (b), to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor, or (B)(1) The standardized total risk-weighted assets of the advanced approaches Board-regulated institution that relate to the subsidiary multiplied by (2) The tier 1 capital ratio the subsidiary must maintain to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor. (5) Total capital minority interest includable in the total capital of the Board-regulated institution. For each consolidated subsidiary of the advanced approaches Board-regulated institution, the amount of total capital minority interest the advanced approaches Board-regulated institution may include in total capital is equal to: (i) The total capital minority interest of the subsidiary; minus (ii) The percentage of the subsidiary's total capital that is not owned by the advanced approaches Board-regulated institution multiplied by the difference between the total capital of the subsidiary and the lower of: (A) The amount of total capital the subsidiary must hold, or would be required to hold pursuant to this paragraph (b), to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor, or (B)(1) The standardized total risk-weighted assets of the advanced approaches Board-regulated institution that relate to the subsidiary multiplied by (2) The total capital ratio the subsidiary must maintain to avoid restrictions on distributions and discretionary bonus payments under Sec. 217.11 or equivalent standards established by the subsidiary's home country supervisor. [Reg. Q, 84 FR 35260, July 22, 2019] Sec. 217.22 Regulatory capital adjustments and deductions. (a) Regulatory capital deductions from common equity tier 1 capital. A Board-regulated institution must deduct from the sum of its common equity tier 1 capital elements the items set forth in this paragraph (a): (1) Goodwill, net of associated deferred tax liabilities (DTLs) in accordance with paragraph (e) of this section, including goodwill that is embedded in the valuation of a significant investment in the capital of an unconsolidated financial institution in the form of common stock (and that is reflected in the consolidated financial statements of the Board-regulated institution), in accordance with paragraph (d) of this section; (2) Intangible assets, other than MSAs, net of associated DTLs in accordance with paragraph (e) of this section; (3) Deferred tax assets (DTAs) that arise from net operating loss and tax credit carryforwards net of any related valuation allowances and net of DTLs in accordance with paragraph (e) of this section; (4) Any gain-on-sale in connection with a securitization exposure; (5)(i) Any defined benefit pension fund net asset, net of any associated DTL in accordance with paragraph (e) of this section, held by a depository institution holding company. With the prior approval of the Board, this deduction is not required for any defined benefit pension fund net asset to the extent the depository institution holding company has unrestricted and unfettered access to the assets in that fund. [[Page 461]] (ii) For an insured depository institution, no deduction is required. (iii) A Board-regulated institution must risk weight any portion of the defined benefit pension fund asset that is not deducted under paragraphs (a)(5)(i) or (a)(5)(ii) of this section as if the Board- regulated institution directly holds a proportional ownership share of each exposure in the defined benefit pension fund. (6) For an advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to Sec. 217.121(d), the amount of expected credit loss that exceeds its eligible credit reserves; and (7) Financial subsidiaries. (i) A state member bank must deduct the aggregate amount of its outstanding equity investment, including retained earnings, in its financial subsidiaries (as defined in 12 CFR 208.77) and may not consolidate the assets and liabilities of a financial subsidiary with those of the state member bank. (ii) No other deduction is required under Sec. 217.22(c) for investments in the capital instruments of financial subsidiaries. (b) Regulatory adjustments to common equity tier 1 capital. (1) A Board-regulated institution must adjust the sum of common equity tier 1 capital elements pursuant to the requirements set forth in this paragraph (b). Such adjustments to common equity tier 1 capital must be made net of the associated deferred tax effects. (i) A Board-regulated institution that makes an AOCI opt-out election (as defined in paragraph (b)(2) of this section), must make the adjustments required under Sec. 217.22(b)(2)(i). (ii) A Board-regulated institution that is an advanced approaches Board-regulated institution, and a Board-regulated institution that has not made an AOCI opt-out election (as defined in paragraph (b)(2) of this section), must deduct any accumulated net gains and add any accumulated net losses on cash flow hedges included in AOCI that relate to the hedging of items that are not recognized at fair value on the balance sheet. (iii) A Board-regulated institution must deduct any net gain and add any net loss related to changes in the fair value of liabilities that are due to changes in the Board-regulated institution's own credit risk. An advanced approaches Board-regulated institution must deduct the difference between its credit spread premium and the risk-free rate for derivatives that are liabilities as part of this adjustment. (2) AOCI opt-out election. (i) A Board-regulated institution that is not an advanced approaches Board-regulated institution may make a one- time election to opt out of the requirement to include all components of AOCI (with the exception of accumulated net gains and losses on cash flow hedges related to items that are not fair-valued on the balance sheet) in common equity tier 1 capital (AOCI opt-out election). A Board- regulated institution that makes an AOCI opt-out election in accordance with this paragraph (b)(2) must adjust common equity tier 1 capital as follows: (A) Subtract any net unrealized gains and add any net unrealized losses on available-for-sale securities; (B) Subtract any net unrealized losses on available-for-sale preferred stock classified as an equity security under GAAP and available-for-sale equity exposures; (C) Subtract any accumulated net gains and add any accumulated net losses on cash flow hedges; (D) Subtract any amounts recorded in AOCI attributed to defined benefit postretirement plans resulting from the initial and subsequent application of the relevant GAAP standards that pertain to such plans (excluding, at the Board-regulated institution's option, the portion relating to pension assets deducted under paragraph (a)(5) of this section); and (E) Subtract any net unrealized gains and add any net unrealized losses on held-to-maturity securities that are included in AOCI. (ii) A Board-regulated institution that is not an advanced approaches Board-regulated institution must make its AOCI opt-out election in the Call Report, for a state member bank, FR Y-9C, for bank holding companies or savings and loan holding companies: [[Page 462]] (A) If the Board-regulated institution is a Category III Board- regulated institution or Category IV Board-regulated institution, during the first reporting period after the Board-regulated institution meets the definition of a Category III Board-regulated institution or Category IV Board-regulated institution in Sec. 217.2; or (B) If the A Board-regulated institution is not a Category III Board-regulated institution and not a Category IV Board-regulated institution, during the first reporting period after the Board-regulated institution is required to comply with subpart A of this part as set forth in Sec. 217.1(f). (iii) Each depository institution subsidiary of a Board-regulated institution that is not an advanced approaches Board-regulated institution must elect the same option as the Board-regulated institution pursuant to paragraph (b)(2). (iv) With prior notice to the Board, a Board-regulated institution resulting from a merger, acquisition, or purchase transaction may make a new AOCI opt-out election in the Call Report (for a state member bank), or FR Y-9C or FR Y-9SP, as applicable (for bank holding companies or savings and loan holding companies) filed by the resulting Board- regulated institution for the first reporting period after it is required to comply with subpart A of this part as set forth in Sec. 217.1(f) if: (A) Other than as set forth in paragraph (b)(2)(iv)(C) of this section, the merger, acquisition, or purchase transaction involved the acquisition or purchase of all or substantially all of either the assets or voting stock of another banking organization that is subject to regulatory capital requirements issued by the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, or the Office of the Comptroller of the Currency; \22\ --------------------------------------------------------------------------- \22\ These rules include the regulatory capital requirements set forth at 12 CFR part 3 (OCC); 12 CFR part 225 (Board); 12 CFR part 325, and 12 CFR part 390 (FDIC). --------------------------------------------------------------------------- (B) Prior to the merger, acquisition, or purchase transaction, only one of the banking organizations involved in the transaction made an AOCI opt-out election under this section; and (C) A Board-regulated institution may, with the prior approval of the Board, change its AOCI opt-out election under this paragraph (b) in the case of a merger, acquisition, or purchase transaction that meets the requirements set forth at paragraph (b)(2)(iv)(B) of this section, but does not meet the requirements of paragraph (b)(2)(iv)(A). In making such a determination, the Board may consider the terms of the merger, acquisition, or purchase transaction, as well as the extent of any changes to the risk profile, complexity, and scope of operations of the Board-regulated institution resulting from the merger, acquisition, or purchase transaction. (3) Regulatory capital requirement for insurance underwriting risks. A bank holding company or savings and loan holding company must deduct an amount equal to the regulatory capital requirement for insurance underwriting risks established by the regulator of any insurance underwriting activities of the company. The bank holding company or savings and loan holding company must take the deduction 50 percent from tier 1 capital and 50 percent from tier 2 capital. If the amount deductible from tier 2 capital exceeds the Board-regulated institution's tier 2 capital, the Board-regulated institution must deduct the excess from tier 1 capital. (c) Deductions from regulatory capital related to investments in capital instruments or covered debt instruments \23\--(1) Investment in the Board-regulated institution's own capital or covered debt instruments. A Board-regulated institution must deduct an investment in the Board-regulated institution's own capital instruments, and an advanced approaches Board-regulated institution also must deduct an investment in the Board-regulated institution's own covered debt instruments, as follows: --------------------------------------------------------------------------- \23\ The Board-regulated institution must calculate amounts deducted under paragraphs (c) through (f) of this section after it calculates the amount of ALLL or AACL, as applicable, includable in tier 2 capital under Sec. 217.20(d)(3). --------------------------------------------------------------------------- (i) A Board-regulated institution must deduct an investment in the [[Page 463]] Board-regulated institution's own common stock instruments from its common equity tier 1 capital elements to the extent such instruments are not excluded from regulatory capital under Sec. 217.20(b)(1); (ii) A Board-regulated institution must deduct an investment in the Board-regulated institution's own additional tier 1 capital instruments from its additional tier 1 capital elements; (iii) A Board-regulated institution must deduct an investment in the Board-regulated institution's own tier 2 capital instruments from its tier 2 capital elements; and (iv) An advanced approaches Board-regulated institution must deduct an investment in the institution's own covered debt instruments from its tier 2 capital elements, as applicable. If the advanced approaches Board-regulated institution does not have a sufficient amount of tier 2 capital to effect this deduction, the institution must deduct the shortfall amount from the next higher (that is, more subordinated) component of regulatory capital. (2) Corresponding deduction approach. For purposes of subpart C of this part, the corresponding deduction approach is the methodology used for the deductions from regulatory capital related to reciprocal cross holdings (as described in paragraph (c)(3) of this section), investments in the capital of unconsolidated financial institutions for a Board- regulated institution that is not an advanced approaches Board-regulated institution (as described in paragraph (c)(4) of this section), non- significant investments in the capital of unconsolidated financial institutions for an advanced approaches Board-regulated institution (as described in paragraph (c)(5) of this section), and non-common stock significant investments in the capital of unconsolidated financial institutions for an advanced approaches Board-regulated institution (as described in paragraph (c)(6) of this section). Under the corresponding deduction approach, a Board-regulated institution must make deductions from the component of capital for which the underlying instrument would qualify if it were issued by the Board-regulated institution itself, as described in paragraphs (c)(2)(i) through (iii) of this section. If the Board-regulated institution does not have a sufficient amount of a specific component of capital to effect the required deduction, the shortfall must be deducted according to paragraph (f) of this section. (i) If an investment is in the form of an instrument issued by a financial institution that is not a regulated financial institution, the Board-regulated institution must treat the instrument as: (A) A common equity tier 1 capital instrument if it is common stock or represents the most subordinated claim in a liquidation of the financial institution; and (B) An additional tier 1 capital instrument if it is subordinated to all creditors of the financial institution and is senior in liquidation only to common shareholders. (ii) If an investment is in the form of an instrument issued by a regulated financial institution and the instrument does not meet the criteria for common equity tier 1, additional tier 1 or tier 2 capital instruments under Sec. 217.20, the Board-regulated institution must treat the instrument as: (A) A common equity tier 1 capital instrument if it is common stock included in GAAP equity or represents the most subordinated claim in liquidation of the financial institution; (B) An additional tier 1 capital instrument if it is included in GAAP equity, subordinated to all creditors of the financial institution, and senior in a receivership, insolvency, liquidation, or similar proceeding only to common shareholders; (C) A tier 2 capital instrument if it is not included in GAAP equity but considered regulatory capital by the primary supervisor of the financial institution; and (D) For an advanced approaches Board-regulated institution, a tier 2 capital instrument if it is a covered debt instrument. (iii) If an investment is in the form of a non-qualifying capital instrument (as defined in Sec. 217.300(c)), the Board-regulated institution must treat the instrument as: [[Page 464]] (A) An additional tier 1 capital instrument if such instrument was included in the issuer's tier 1 capital prior to May 19, 2010; or (B) A tier 2 capital instrument if such instrument was included in the issuer's tier 2 capital (but not includable in tier 1 capital) prior to May 19, 2010. (3) Reciprocal cross holdings in the capital of financial institutions. (i) A Board-regulated institution must deduct an investment in the capital of other financial institutions that it holds reciprocally, where such reciprocal cross holdings result from a formal or informal arrangement to swap, exchange, or otherwise intend to hold each other's capital instruments, by applying the corresponding deduction approach in paragraph (c)(2) of this section. (ii) An advanced approaches Board-regulated institution must deduct an investment in any covered debt instrument that the institution holds reciprocally with another financial institution, where such reciprocal cross holdings result from a formal or informal arrangement to swap, exchange, or otherwise intend to hold each other's capital or covered debt instruments, by applying the corresponding deduction approach in paragraph (c)(2) of this section. (4) Investments in the capital of unconsolidated financial institutions. A Board-regulated institution that is not an advanced approaches Board-regulated institution must deduct its investments in the capital of unconsolidated financial institutions (as defined in Sec. 217.2) that exceed 25 percent of the sum of the Board-regulated institution's common equity tier 1 capital elements minus all deductions from and adjustments to common equity tier 1 capital elements required under paragraphs (a) through (c)(3) of this section by applying the corresponding deduction approach in paragraph (c)(2) of this section.\24\ The deductions described in this section are net of associated DTLs in accordance with paragraph (e) of this section. In addition, with the prior written approval of the Board, a Board- regulated institution that underwrites a failed underwriting, for the period of time stipulated by the Board, is not required to deduct an investment in the capital of an unconsolidated financial institution pursuant to this paragraph (c) to the extent the investment is related to the failed underwriting.\25\ --------------------------------------------------------------------------- \24\ With the prior written approval of the Board, for the period of time stipulated by the Board, a Board-regulated institution that is not an advanced approaches Board-regulated institution is not required to deduct an investment in the capital of an unconsolidated financial institution pursuant to this paragraph if the financial institution is in distress and if such investment is made for the purpose of providing financial support to the financial institution, as determined by the Board. \25\ Any investments in the capital of unconsolidated financial institutions that do not exceed the 25 percent threshold for investments in the capital of unconsolidated financial institutions under this section must be assigned the appropriate risk weight under subparts D or F of this part, as applicable. --------------------------------------------------------------------------- (5) Non-significant investments in the capital of unconsolidated financial institutions. (i) An advanced approaches Board-regulated institution must deduct its non-significant investments in the capital of unconsolidated financial institutions (as defined in Sec. 217.2) that, in the aggregate and together with any investment in a covered debt instrument (as defined in Sec. 217.2) issued by a financial institution in which the Board-regulated institution does not have a significant investment in the capital of the unconsolidated financial institution (as defined in Sec. 217.2), exceeds 10 percent of the sum of the advanced approaches Board-regulated institution's common equity tier 1 capital elements minus all deductions from and adjustments to common equity tier 1 capital elements required under paragraphs (a) through (c)(3) of this section (the 10 percent threshold for non- significant investments) by applying the corresponding deduction approach in paragraph (c)(2) of this section.\26\ The deductions described in this [[Page 465]] paragraph are net of associated DTLs in accordance with paragraph (e) of this section. In addition, with the prior written approval of the Board, an advanced approaches Board-regulated institution that underwrites a failed underwriting, for the period of time stipulated by the Board, is not required to deduct from capital a non-significant investment in the capital of an unconsolidated financial institution or an investment in a covered debt instrument pursuant to this paragraph (c)(5) to the extent the investment is related to the failed underwriting.\27\ For any calculation under this paragraph (c)(5)(i), an advanced approaches Board-regulated institution may exclude the amount of an investment in a covered debt instrument under paragraph (c)(5)(iii) or (iv) of this section, as applicable. --------------------------------------------------------------------------- \26\ With the prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution is not required to deduct a non-significant investment in the capital of an unconsolidated financial institution or an investment in a covered debt instrument pursuant to this paragraph if the financial institution is in distress and if such investment is made for the purpose of providing financial support to the financial institution, as determined by the Board. \27\ Any non-significant investment in the capital of an unconsolidated financial institution or any investment in a covered debt instrument that is not required to be deducted under this paragraph (c)(5) or otherwise under this section must be assigned the appropriate risk weight under subparts D, E, or F of this part, as applicable. --------------------------------------------------------------------------- (ii) For an advanced approaches Board-regulated institution, the amount to be deducted under this paragraph (c)(5) from a specific capital component is equal to: (A) The advanced approaches Board-regulated institution's aggregate non-significant investments in the capital of an unconsolidated financial institution and, if applicable, any investments in a covered debt instrument subject to deduction under this paragraph (c)(5), exceeding the 10 percent threshold for non-significant investments, multiplied by (B) The ratio of the advanced approaches Board-regulated institution's aggregate non-significant investments in the capital of an unconsolidated financial institution (in the form of such capital component) to the advanced approaches Board-regulated institution's total non-significant investments in unconsolidated financial institutions, with an investment in a covered debt instrument being treated as tier 2 capital for this purpose. (iii) For purposes of applying the deduction under paragraph (c)(5)(i) of this section, an advanced approaches Board-regulated institution that is not a global systemically important BHC or a subsidiary of a global systemically important banking organization, as defined in 12 CFR 252.2, may exclude from the deduction the amount of the Board-regulated institution's gross long position, in accordance with Sec. 217.22(h)(2), in investments in covered debt instruments issued by financial institutions in which the Board-regulated institution does not have a significant investment in the capital of the unconsolidated financial institutions up to an amount equal to 5 percent of the sum of the Board-regulated institution's common equity tier 1 capital elements minus all deductions from and adjustments to common equity tier 1 capital elements required under paragraphs (a) through (c)(3) of this section, net of associated DTLs in accordance with paragraph (e) of this section. (iv) Prior to applying the deduction under paragraph (c)(5)(i) of this section: (A) A global systemically important BHC or a Board-regulated institution that is a subsidiary of a global systemically important BHC may designate any investment in a covered debt instrument as an excluded covered debt instrument, as defined in Sec. 217.2. (B) A global systemically important BHC or a Board-regulated institution that is a subsidiary of a global systemically important BHC must deduct, according to the corresponding deduction approach in paragraph (c)(2) of this section, its gross long position, calculated in accordance with paragraph (h)(2) of this section, in a covered debt instrument that was originally designated as an excluded covered debt instrument, in accordance with paragraph (c)(5)(iv)(A) of this section, but no longer qualifies as an excluded covered debt instrument. (C) A global systemically important BHC or a Board-regulated institution that is a subsidiary of a global systemically important BHC must deduct according to the corresponding deduction approach in paragraph (c)(2) of this section the amount of its gross long position, calculated in accordance with [[Page 466]] paragraph (h)(2) of this section, in a direct or indirect investment in a covered debt instrument that was originally designated as an excluded covered debt instrument, in accordance with paragraph (c)(5)(iv)(A) of this section, and has been held for more than thirty business days. (D) A global systemically important BHC or a Board-regulated institution that is a subsidiary of a global systemically important BHC must deduct according to the corresponding deduction approach in paragraph (c)(2) of this section its gross long position, calculated in accordance with paragraph (h)(2) of this section, of its aggregate position in excluded covered debt instruments that exceeds 5 percent of the sum of the Board-regulated institution's common equity tier 1 capital elements minus all deductions from and adjustments to common equity tier 1 capital elements required under paragraphs (a) through (c)(3) of this section, net of associated DTLs in accordance with paragraph (e) of this section. (6) Significant investments in the capital of unconsolidated financial institutions that are not in the form of common stock. If an advanced approaches Board-regulated institution has a significant investment in the capital of an unconsolidated financial institution, the advanced approaches Board-regulated institution must deduct from capital any such investment issued by the unconsolidated financial institution that is held by the Board-regulated institution other than an investment in the form of common stock, as well as any investment in a covered debt instrument issued by the unconsolidated financial institution, by applying the corresponding deduction approach in paragraph (c)(2) of this section.\28\ The deductions described in this section are net of associated DTLs in accordance with paragraph (e) of this section. In addition, with the prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution that underwrites a failed underwriting is not required to deduct the significant investment in the capital of an unconsolidated financial institution or an investment in a covered debt instrument pursuant to this paragraph (c)(6) if such investment is related to such failed underwriting. --------------------------------------------------------------------------- \28\ With prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution is not required to deduct a significant investment in the capital of an unconsolidated financial institution, including an investment in a covered debt instrument, under this paragraph (c)(6) or otherwise under this section if such investment is made for the purpose of providing financial support to the financial institution as determined by the Board. --------------------------------------------------------------------------- (d) MSAs and certain DTAs subject to common equity tier 1 capital deduction thresholds. (1) A Board-regulated institution that is not an advanced approaches Board-regulated institution must make deductions from regulatory capital as described in this paragraph (d)(1). (i) The Board-regulated institution must deduct from common equity tier 1 capital elements the amount of each of the items set forth in this paragraph (d)(1) that, individually, exceeds 25 percent of the sum of the Board-regulated institution's common equity tier 1 capital elements, less adjustments to and deductions from common equity tier 1 capital required under paragraphs (a) through (c)(3) of this section (the 25 percent common equity tier 1 capital deduction threshold).\29\ --------------------------------------------------------------------------- \29\ The amount of the items in paragraph (d)(1) of this section that is not deducted from common equity tier 1 capital must be included in the risk-weighted assets of the Board-regulated institution and assigned a 250 percent risk weight. --------------------------------------------------------------------------- (ii) The Board-regulated institution must deduct from common equity tier 1 capital elements the amount of DTAs arising from temporary differences that the Board-regulated institution could not realize through net operating loss carrybacks, net of any related valuation allowances and net of DTLs, in accordance with paragraph (e) of this section. A Board-regulated institution is not required to deduct from the sum of its common equity tier 1 capital elements DTAs (net of any related valuation allowances and net of DTLs, in accordance with Sec. 217.22(e)) arising from timing differences that the Board-regulated institution could realize through net operating loss [[Page 467]] carrybacks. The Board-regulated institution must risk weight these assets at 100 percent. For a state member bank that is a member of a consolidated group for tax purposes, the amount of DTAs that could be realized through net operating loss carrybacks may not exceed the amount that the state member bank could reasonably expect to have refunded by its parent holding company. (iii) The Board-regulated institution must deduct from common equity tier 1 capital elements the amount of MSAs net of associated DTLs, in accordance with paragraph (e) of this section. (iv) For purposes of calculating the amount of DTAs subject to deduction pursuant to paragraph (d)(1) of this section, a Board- regulated institution may exclude DTAs and DTLs relating to adjustments made to common equity tier 1 capital under paragraph (b) of this section. A Board-regulated institution that elects to exclude DTAs relating to adjustments under paragraph (b) of this section also must exclude DTLs and must do so consistently in all future calculations. A Board-regulated institution may change its exclusion preference only after obtaining the prior approval of the Board. (2) An advanced approaches Board-regulated institution must make deductions from regulatory capital as described in this paragraph (d)(2). (i) An advanced approaches Board-regulated institution must deduct from common equity tier 1 capital elements the amount of each of the items set forth in this paragraph (d)(2) that, individually, exceeds 10 percent of the sum of the advanced approaches Board-regulated institution's common equity tier 1 capital elements, less adjustments to and deductions from common equity tier 1 capital required under paragraphs (a) through (c) of this section (the 10 percent common equity tier 1 capital deduction threshold). (A) DTAs arising from temporary differences that the advanced approaches Board-regulated institution could not realize through net operating loss carrybacks, net of any related valuation allowances and net of DTLs, in accordance with paragraph (e) of this section. An advanced approaches Board-regulated institution is not required to deduct from the sum of its common equity tier 1 capital elements DTAs (net of any related valuation allowances and net of DTLs, in accordance with Sec. 217.22(e)) arising from timing differences that the advanced approaches Board-regulated institution could realize through net operating loss carrybacks. The advanced approaches Board-regulated institution must risk weight these assets at 100 percent. For a state member bank that is a member of a consolidated group for tax purposes, the amount of DTAs that could be realized through net operating loss carrybacks may not exceed the amount that the state member bank could reasonably expect to have refunded by its parent holding company. (B) MSAs net of associated DTLs, in accordance with paragraph (e) of this section. (C) Significant investments in the capital of unconsolidated financial institutions in the form of common stock, net of associated DTLs in accordance with paragraph (e) of this section.\30\ Significant investments in the capital of unconsolidated financial institutions in the form of common stock subject to the 10 percent common equity tier 1 capital deduction threshold may be reduced by any goodwill embedded in the valuation of such investments deducted by the advanced approaches Board-regulated institution pursuant to paragraph (a)(1) of this section. In addition, with the prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution that underwrites a failed underwriting is not required to deduct a significant investment in the capital of an unconsolidated financial institution in the form of common stock pursuant to this paragraph (d)(2) [[Page 468]] if such investment is related to such failed underwriting. --------------------------------------------------------------------------- \30\ With the prior written approval of the Board, for the period of time stipulated by the Board, an advanced approaches Board-regulated institution is not required to deduct a significant investment in the capital instrument of an unconsolidated financial institution in distress in the form of common stock pursuant to this section if such investment is made for the purpose of providing financial support to the financial institution as determined by the Board. --------------------------------------------------------------------------- (ii) An advanced approaches Board-regulated institution must deduct from common equity tier 1 capital elements the items listed in paragraph (d)(2)(i) of this section that are not deducted as a result of the application of the 10 percent common equity tier 1 capital deduction threshold, and that, in aggregate, exceed 17.65 percent of the sum of the advanced approaches Board-regulated institution's common equity tier 1 capital elements, minus adjustments to and deductions from common equity tier 1 capital required under paragraphs (a) through (c) of this section, minus the items listed in paragraph (d)(2)(i) of this section (the 15 percent common equity tier 1 capital deduction threshold). Any goodwill that has been deducted under paragraph (a)(1) of this section can be excluded from the significant investments in the capital of unconsolidated financial institutions in the form of common stock.\31\ --------------------------------------------------------------------------- \31\ The amount of the items in paragraph (d)(2) of this section that is not deducted from common equity tier 1 capital pursuant to this section must be included in the risk-weighted assets of the advanced approaches Board-regulated institution and assigned a 250 percent risk weight. --------------------------------------------------------------------------- (iii) For purposes of calculating the amount of DTAs subject to the 10 and 15 percent common equity tier 1 capital deduction thresholds, an advanced approaches Board-regulated institution may exclude DTAs and DTLs relating to adjustments made to common equity tier 1 capital under paragraph (b) of this section. An advanced approaches Board-regulated institution that elects to exclude DTAs relating to adjustments under paragraph (b) of this section also must exclude DTLs and must do so consistently in all future calculations. An advanced approaches Board- regulated institution may change its exclusion preference only after obtaining the prior approval of the Board. (e) Netting of DTLs against assets subject to deduction. (1) Except as described in paragraph (e)(3) of this section, netting of DTLs against assets that are subject to deduction under this section is permitted, but not required, if the following conditions are met: (i) The DTL is associated with the asset; and (ii) The DTL would be extinguished if the associated asset becomes impaired or is derecognized under GAAP. (2) A DTL may only be netted against a single asset. (3) For purposes of calculating the amount of DTAs subject to the threshold deduction in paragraph (d) of this section, the amount of DTAs that arise from net operating loss and tax credit carryforwards, net of any related valuation allowances, and of DTAs arising from temporary differences that the Board-regulated institution could not realize through net operating loss carrybacks, net of any related valuation allowances, may be offset by DTLs (that have not been netted against assets subject to deduction pursuant to paragraph (e)(1) of this section) subject to the conditions set forth in this paragraph (e). (i) Only the DTAs and DTLs that relate to taxes levied by the same taxation authority and that are eligible for offsetting by that authority may be offset for purposes of this deduction. (ii) The amount of DTLs that the Board-regulated institution nets against DTAs that arise from net operating loss and tax credit carryforwards, net of any related valuation allowances, and against DTAs arising from temporary differences that the Board-regulated institution could not realize through net operating loss carrybacks, net of any related valuation allowances, must be allocated in proportion to the amount of DTAs that arise from net operating loss and tax credit carryforwards (net of any related valuation allowances, but before any offsetting of DTLs) and of DTAs arising from temporary differences that the Board-regulated institution could not realize through net operating loss carrybacks (net of any related valuation allowances, but before any offsetting of DTLs), respectively. (4) A Board-regulated institution may offset DTLs embedded in the carrying value of a leveraged lease portfolio acquired in a business combination that are not recognized under GAAP against DTAs that are subject to paragraph (d) of this section in accordance with this paragraph (e). [[Page 469]] (5) A Board-regulated institution must net DTLs against assets subject to deduction under this section in a consistent manner from reporting period to reporting period. A Board-regulated institution may change its preference regarding the manner in which it nets DTLs against specific assets subject to deduction under this section only after obtaining the prior approval of the Board. (f) Insufficient amounts of a specific regulatory capital component to effect deductions. Under the corresponding deduction approach, if a Board-regulated institution does not have a sufficient amount of a specific component of capital to effect the full amount of any deduction from capital required under paragraph (d) of this section, the Board- regulated institution must deduct the shortfall amount from the next higher (that is, more subordinated) component of regulatory capital. Any investment by an advanced approaches Board-regulated institution in a covered debt instrument must be treated as an investment in the tier 2 capital for purposes of this paragraph (f). Notwithstanding any other provision of this section, a qualifying community banking organization (as defined in Sec. 217.12) that has elected to use the community bank leverage ratio framework pursuant to Sec. 217.12 is not required to deduct any shortfall of tier 2 capital from its additional tier 1 capital or common equity tier 1 capital. (g) Treatment of assets that are deducted. A Board-regulated institution must exclude from standardized total risk-weighted assets and, as applicable, advanced approaches total risk-weighted assets any item that is required to be deducted from regulatory capital. (h) Net long position--(1) In general. For purposes of calculating the amount of a Board-regulated institution's investment in the Board regulated institution's own capital instrument, investment in the capital of an unconsolidated financial institution, and investment in a covered debt instrument under this section, the institution's net long position is the gross long position in the underlying instrument determined in accordance with paragraph (h)(2) of this section, as adjusted to recognize any short position by the Board-regulated institution in the same instrument subject to paragraph (h)(3) of this section. (2) Gross long position. A gross long position is determined as follows: (i) For an equity exposure that is held directly by the Board- regulated institution, the adjusted carrying value of the exposure as that term is defined in Sec. 217.51(b); (ii) For an exposure that is held directly and that is not an equity exposure or a securitization exposure, the exposure amount as that term is defined in Sec. 217.2; (iii) For each indirect exposure, the Board-regulated institution's carrying value of its investment in an investment fund or, alternatively: (A) A Board-regulated institution may, with the prior approval of the Board, use a conservative estimate of the amount of its indirect investment in the Board-regulated institution's own capital instruments, its indirect investment in the capital of an unconsolidated financial institution, or its indirect investment in a covered debt instrument held through a position in an index, as applicable; or (B) A Board-regulated institution may calculate the gross long position for an indirect exposure to the Board-regulated institution's own capital instruments, the capital of an unconsolidated financial institution, or a covered debt instrument by multiplying the Board- regulated institution's carrying value of its investment in the investment fund by either: (1) The highest stated investment limit (in percent) for an investment in the Board-regulated institution's own capital instruments, an investment in the capital of an unconsolidated financial institution, or an investment in a covered debt instrument, as applicable, as stated in the prospectus, partnership agreement, or similar contract defining permissible investments of the investment fund; or (2) The investment fund's actual holdings (in percent) of the investment in the Board-regulated institution's own capital instruments, investment in the capital of an unconsolidated financial institution, or investment in a covered debt instrument, as applicable; and [[Page 470]] (iv) For a synthetic exposure, the amount of the Board-regulated institution's loss on the exposure if the reference capital or covered debt instrument were to have a value of zero. (3) Adjustments to reflect a short position. In order to adjust the gross long position to recognize a short position in the same instrument under paragraph (h)(1) of this section, the following criteria must be met: (i) The maturity of the short position must match the maturity of the long position, or the short position must have a residual maturity of at least one year (maturity requirement); or (ii) For a position that is a trading asset or trading liability (whether on- or off-balance sheet) as reported on the Board-regulated institution's Call Report, for a state member bank, or FR Y-9C, for a bank holding company, savings and loan holding company, or intermediate holding company, as applicable, if the Board-regulated institution has a contractual right or obligation to sell the long position at a specific point in time and the counterparty to the contract has an obligation to purchase the long position if the Board-regulated institution exercises its right to sell, this point in time may be treated as the maturity of the long position such that the maturity of the long position and short position are deemed to match for purposes of the maturity requirement, even if the maturity of the short position is less than one year; and (iii) For an investment in a Board-regulated institution's own capital instrument under paragraph (c)(1) of this section, an investment in the capital of an unconsolidated financial institution under paragraphs (c)(4) through (6) and (d) of this section (as applicable), and an investment in a covered debt instrument under paragraphs (c)(1), (5), and (6) of this section: (A) The Board-regulated institution may only net a short position against a long position in an investment in the Board-regulated institution's own capital instrument or own covered debt instrument under paragraph (c)(1) of this section if the short position involves no counterparty credit risk; (B) A gross long position in an investment in the Board-regulated institution's own capital instrument, an investment in the capital of an unconsolidated financial institution, or an investment in a covered debt instrument due to a position in an index may be netted against a short position in the same index; (C) Long and short positions in the same index without maturity dates are considered to have matching maturities; and (D) A short position in an index that is hedging a long cash or synthetic position in an investment in the Board-regulated institution's own capital instrument, an investment in the capital instrument of an unconsolidated financial institution, or an investment in a covered debt instrument can be decomposed to provide recognition of the hedge. More specifically, the portion of the index that is composed of the same underlying instrument that is being hedged may be used to offset the long position if both the long position being hedged and the short position in the index are reported as a trading asset or trading liability (whether on- or off-balance sheet) on the Board-regulated institution's Call Report, for a state member bank, or FR Y-9C, for a bank holding company, savings and loan holding company, or intermediate holding company, as applicable, and the hedge is deemed effective by the Board-regulated institution's internal control processes, which have not been found to be inadequate by the Board. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62287, Oct. 11, 2013; 79 FR 78295, Dec. 30, 2014; 80 FR 41419, July 15, 2015; 84 FR 4242, Feb. 14, 2019; 84 FR 35261, July 22, 2019; 84 FR 59271, Nov. 1, 2019; 84 FR 61798, Nov. 13, 2019; 86 FR 735, Jan. 6, 2021] Editorial Note: At 84 FR 35261, July 22, 2019, Sec. 217.22 was amended in part by revising (a)(1)(i); however, the amendment could not be incorporated due to inaccurate amendatory instruction. Sec. Sec. 217.23-217.29 [Reserved] Subpart D_Risk-Weighted Assets_Standardized Approach Sec. 217.30 Applicability. (a) This subpart sets forth methodologies for determining risk- weighted assets for purposes of the generally [[Page 471]] applicable risk-based capital requirements for all Board-regulated institutions. (b) Notwithstanding paragraph (a) of this section, a market risk Board-regulated institution must exclude from its calculation of risk- weighted assets under this subpart the risk-weighted asset amounts of all covered positions, as defined in subpart F of this part (except foreign exchange positions that are not trading positions, OTC derivative positions, cleared transactions, and unsettled transactions). Risk-Weighted Assets For General Credit Risk Sec. 217.31 Mechanics for calculating risk-weighted assets for general credit risk. (a) General risk-weighting requirements. A Board-regulated institution must apply risk weights to its exposures as follows: (1) A Board-regulated institution must determine the exposure amount of each on-balance sheet exposure, each OTC derivative contract, and each off-balance sheet commitment, trade and transaction-related contingency, guarantee, repo-style transaction, financial standby letter of credit, forward agreement, or other similar transaction that is not: (i) An unsettled transaction subject to Sec. 217.38; (ii) A cleared transaction subject to Sec. 217.35; (iii) A default fund contribution subject to Sec. 217.35; (iv) A securitization exposure subject to Sec. Sec. 217.41 through 217.45; or (v) An equity exposure (other than an equity OTC derivative contract) subject to Sec. Sec. 217.51 through 217.53. (2) The Board-regulated institution must multiply each exposure amount by the risk weight appropriate to the exposure based on the exposure type or counterparty, eligible guarantor, or financial collateral to determine the risk-weighted asset amount for each exposure. (b) Total risk-weighted assets for general credit risk equals the sum of the risk-weighted asset amounts calculated under this section. Sec. 217.32 General risk weights. (a) Sovereign exposures--(1) Exposures to the U.S. government. (i) Notwithstanding any other requirement in this subpart, a Board-regulated institution must assign a zero percent risk weight to: (A) An exposure to the U.S. government, its central bank, or a U.S. government agency; and (B) The portion of an exposure that is directly and unconditionally guaranteed by the U.S. government, its central bank, or a U.S. government agency. This includes a deposit or other exposure, or the portion of a deposit or other exposure, that is insured or otherwise unconditionally guaranteed by the FDIC or National Credit Union Administration. (ii) A Board-regulated institution must assign a 20 percent risk weight to the portion of an exposure that is conditionally guaranteed by the U.S. government, its central bank, or a U.S. government agency. This includes an exposure, or the portion of an exposure, that is conditionally guaranteed by the FDIC or National Credit Union Administration. (iii) A Board-regulated institution must assign a zero percent risk weight to a Paycheck Protection Program covered loan as defined in section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)). (2) Other sovereign exposures. In accordance with Table 1 to Sec. 217.32, a Board-regulated institution must assign a risk weight to a sovereign exposure based on the CRC applicable to the sovereign or the sovereign's OECD membership status if there is no CRC applicable to the sovereign. Table 1 to Sec. 217.32--Risk Weights for Sovereign Exposures ------------------------------------------------------------------------ Risk weight (in percent) ------------------------------------------------------------------------ CRC: 0-1................................................... 0 2..................................................... 20 3..................................................... 50 4-6................................................... 100 7..................................................... 150 OECD Member with No CRC................................. 0 Non-OECD Member with No CRC............................. 100 Sovereign Default....................................... 150 ------------------------------------------------------------------------ [[Page 472]] (3) Certain sovereign exposures. Notwithstanding paragraph (a)(2) of this section, a Board-regulated institution may assign to a sovereign exposure a risk weight that is lower than the applicable risk weight in Table 1 to Sec. 217.32 if: (i) The exposure is denominated in the sovereign's currency; (ii) The Board-regulated institution has at least an equivalent amount of liabilities in that currency; and (iii) The risk weight is not lower than the risk weight that the home country supervisor allows Board-regulated institutions under its jurisdiction to assign to the same exposures to the sovereign. (4) Exposures to a non-OECD member sovereign with no CRC. Except as provided in paragraphs (a)(3), (a)(5) and (a)(6) of this section, a Board-regulated institution must assign a 100 percent risk weight to an exposure to a sovereign if the sovereign does not have a CRC. (5) Exposures to an OECD member sovereign with no CRC. Except as provided in paragraph (a)(6) of this section, a Board-regulated institution must assign a 0 percent risk weight to an exposure to a sovereign that is a member of the OECD if the sovereign does not have a CRC. (6) Sovereign default. A Board-regulated institution must assign a 150 percent risk weight to a sovereign exposure immediately upon determining that an event of sovereign default has occurred, or if an event of sovereign default has occurred during the previous five years. (b) Certain supranational entities and multilateral development banks (MDBs). A Board-regulated institution must assign a zero percent risk weight to an exposure to the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, or an MDB. (c) Exposures to GSEs. (1) A Board-regulated institution must assign a 20 percent risk weight to an exposure to a GSE other than an equity exposure or preferred stock. (2) A Board-regulated institution must assign a 100 percent risk weight to preferred stock issued by a GSE. (d) Exposures to depository institutions, foreign banks, and credit unions--(1) Exposures to U.S. depository institutions and credit unions. A Board-regulated institution must assign a 20 percent risk weight to an exposure to a depository institution or credit union that is organized under the laws of the United States or any state thereof, except as otherwise provided under paragraph (d)(3) of this section. (2) Exposures to foreign banks. (i) Except as otherwise provided under paragraphs (d)(2)(iii), (d)(2)(v), and (d)(3) of this section, a Board-regulated institution must assign a risk weight to an exposure to a foreign bank, in accordance with Table 2 to Sec. 217.32, based on the CRC that corresponds to the foreign bank's home country or the OECD membership status of the foreign bank's home country if there is no CRC applicable to the foreign bank's home country. Table 2 to Sec. 217.32--Risk Weights for Exposures to Foreign Banks ------------------------------------------------------------------------ Risk weight (in percent) ------------------------------------------------------------------------ CRC: 0-1................................................... 20 2..................................................... 50 3..................................................... 100 4-7................................................... 150 OECD Member with No CRC................................. 20 Non-OECD Member with No CRC............................. 100 Sovereign Default....................................... 150 ------------------------------------------------------------------------ (ii) A Board-regulated institution must assign a 20 percent risk weight to an exposure to a foreign bank whose home country is a member of the OECD and does not have a CRC. (iii) A Board-regulated institution must assign a 20 percent risk- weight to an exposure that is a self-liquidating, trade-related contingent item that arises from the movement of goods and that has a maturity of three months or less to a foreign bank whose home country has a CRC of 0, 1, 2, or 3, or is an OECD member with no CRC. (iv) A Board-regulated institution must assign a 100 percent risk weight to an exposure to a foreign bank whose home country is not a member of the OECD and does not have a CRC, with [[Page 473]] the exception of self-liquidating, trade-related contingent items that arise from the movement of goods, and that have a maturity of three months or less, which may be assigned a 20 percent risk weight. (v) A Board-regulated institution must assign a 150 percent risk weight to an exposure to a foreign bank immediately upon determining that an event of sovereign default has occurred in the bank's home country, or if an event of sovereign default has occurred in the foreign bank's home country during the previous five years. (3) A Board-regulated institution must assign a 100 percent risk weight to an exposure to a financial institution if the exposure may be included in that financial institution's capital unless the exposure is: (i) An equity exposure; (ii) A significant investment in the capital of an unconsolidated financial institution in the form of common stock pursuant to Sec. 217.22(d)(2)(i)(c); (iii) Deducted from regulatory capital under Sec. 217.22; or (iv) Subject to a 150 percent risk weight under paragraph (d)(2)(iv) or Table 2 of paragraph (d)(2) of this section. (e) Exposures to public sector entities (PSEs)--(1) Exposures to U.S. PSEs. (i) A Board-regulated institution must assign a 20 percent risk weight to a general obligation exposure to a PSE that is organized under the laws of the United States or any state or political subdivision thereof. (ii) A Board-regulated institution must assign a 50 percent risk weight to a revenue obligation exposure to a PSE that is organized under the laws of the United States or any state or political subdivision thereof. (2) Exposures to foreign PSEs. (i) Except as provided in paragraphs (e)(1) and (e)(3) of this section, a Board-regulated institution must assign a risk weight to a general obligation exposure to a PSE, in accordance with Table 3 to Sec. 217.32, based on the CRC that corresponds to the PSE's home country or the OECD membership status of the PSE's home country if there is no CRC applicable to the PSE's home country. (ii) Except as provided in paragraphs (e)(1) and (e)(3) of this section, a Board-regulated institution must assign a risk weight to a revenue obligation exposure to a PSE, in accordance with Table 4 to Sec. 217.32, based on the CRC that corresponds to the PSE's home country; or the OECD membership status of the PSE's home country if there is no CRC applicable to the PSE's home country. (3) A Board-regulated institution may assign a lower risk weight than would otherwise apply under Tables 3 or 4 to Sec. 217.32 to an exposure to a foreign PSE if: (i) The PSE's home country supervisor allows banks under its jurisdiction to assign a lower risk weight to such exposures; and (ii) The risk weight is not lower than the risk weight that corresponds to the PSE's home country in accordance with Table 1 to Sec. 217.32. Table 3 to Sec. 217.32--Risk Weights for Non-U.S. PSE General Obligations ------------------------------------------------------------------------ Risk weight (in percent) ------------------------------------------------------------------------ CRC: 0-1................................................... 20 2..................................................... 50 3..................................................... 100 4-7................................................... 150 OECD Member with No CRC................................. 20 Non-OECD Member with No CRC............................. 100 Sovereign Default....................................... 150 ------------------------------------------------------------------------ Table 4 to Sec. 217.32--Risk Weights for Non-U.S. PSE Revenue Obligations ------------------------------------------------------------------------ Risk weight (in percent) ------------------------------------------------------------------------ CRC: 0-1................................................... 50 2-3................................................... 100 4-7................................................... 150 OECD Member with No CRC................................. 50 Non-OECD Member with No CRC............................. 100 Sovereign Default....................................... 150 ------------------------------------------------------------------------ (4) Exposures to PSEs from an OECD member sovereign with no CRC. (i) A Board-regulated institution must assign a 20 percent risk weight to a general obligation exposure to a PSE whose home country is an OECD member sovereign with no CRC. (ii) A Board-regulated institution must assign a 50 percent risk weight to a revenue obligation exposure to a PSE whose home country is an OECD member sovereign with no CRC. [[Page 474]] (5) Exposures to PSEs whose home country is not an OECD member sovereign with no CRC. A Board-regulated institution must assign a 100 percent risk weight to an exposure to a PSE whose home country is not a member of the OECD and does not have a CRC. (6) A Board-regulated institution must assign a 150 percent risk weight to a PSE exposure immediately upon determining that an event of sovereign default has occurred in a PSE's home country or if an event of sovereign default has occurred in the PSE's home country during the previous five years. (f) Corporate exposures. (1) A Board-regulated institution must assign a 100 percent risk weight to all its corporate exposures, except as provided in paragraphs (f)(2) and (f)(3) of this section. (2) A Board-regulated institution must assign a 2 percent risk weight to an exposure to a QCCP arising from the Board-regulated institution posting cash collateral to the QCCP in connection with a cleared transaction that meets the requirements of Sec. 217.35(b)(3)(i)(A) and a 4 percent risk weight to an exposure to a QCCP arising from the Board-regulated institution posting cash collateral to the QCCP in connection with a cleared transaction that meets the requirements of Sec. 217.35(b)(3)(i)(B). (3) A Board-regulated institution must assign a 2 percent risk weight to an exposure to a QCCP arising from the Board-regulated institution posting cash collateral to the QCCP in connection with a cleared transaction that meets the requirements of Sec. 217.35(c)(3)(i). (g) Residential mortgage exposures. (1) A Board-regulated institution must assign a 50 percent risk weight to a first-lien residential mortgage exposure that: (i) Is secured by a property that is either owner-occupied or rented; (ii) Is made in accordance with prudent underwriting standards, including relating to the loan amount as a percent of the appraised value of the property; A Board-regulated institution must base all estimates of a property's value on an appraisal or evaluation of the property that satisfies subpart E of 12 CFR part 208. (iii) Is not 90 days or more past due or carried in nonaccrual status; and (iv) Is not restructured or modified. (2) A Board-regulated institution must assign a 100 percent risk weight to a first-lien residential mortgage exposure that does not meet the criteria in paragraph (g)(1) of this section, and to junior-lien residential mortgage exposures. (3) For the purpose of this paragraph (g), if a Board-regulated institution holds the first-lien and junior-lien(s) residential mortgage exposures, and no other party holds an intervening lien, the Board- regulated institution must combine the exposures and treat them as a single first-lien residential mortgage exposure. (4) A loan modified or restructured solely pursuant to the U.S. Treasury's Home Affordable Mortgage Program is not modified or restructured for purposes of this section. (h) Pre-sold construction loans. A Board-regulated institution must assign a 50 percent risk weight to a pre-sold construction loan unless the purchase contract is cancelled, in which case a Board-regulated institution must assign a 100 percent risk weight. (i) Statutory multifamily mortgages. A Board-regulated institution must assign a 50 percent risk weight to a statutory multifamily mortgage. (j) High-volatility commercial real estate (HVCRE) exposures. A Board-regulated institution must assign a 150 percent risk weight to an HVCRE exposure. (k) Past due exposures. Except for an exposure to a sovereign entity or a residential mortgage exposure or a policy loan, if an exposure is 90 days or more past due or on nonaccrual: (1) A Board-regulated institution must assign a 150 percent risk weight to the portion of the exposure that is not guaranteed or that is unsecured; (2) A Board-regulated institution may assign a risk weight to the guaranteed portion of a past due exposure based on the risk weight that applies under Sec. 217.36 if the guarantee or credit derivative meets the requirements of that section; and (3) A Board-regulated institution may assign a risk weight to the collateralized portion of a past due exposure based on the risk weight that [[Page 475]] applies under Sec. 217.37 if the collateral meets the requirements of that section. (l) Other assets. (1)(i) A bank holding company or savings and loan holding company must assign a zero percent risk weight to cash owned and held in all offices of subsidiary depository institutions or in transit, and to gold bullion held in a subsidiary depository institution's own vaults, or held in another depository institution's vaults on an allocated basis, to the extent the gold bullion assets are offset by gold bullion liabilities. (ii) A state member bank must assign a zero percent risk weight to cash owned and held in all offices of the state member bank or in transit; to gold bullion held in the state member bank's own vaults or held in another depository institution's vaults on an allocated basis, to the extent the gold bullion assets are offset by gold bullion liabilities; and to exposures that arise from the settlement of cash transactions (such as equities, fixed income, spot foreign exchange and spot commodities) with a central counterparty where there is no assumption of ongoing counterparty credit risk by the central counterparty after settlement of the trade and associated default fund contributions. (2) A Board-regulated institution must assign a 20 percent risk weight to cash items in the process of collection. (3) A Board-regulated institution must assign a 100 percent risk weight to DTAs arising from temporary differences that the Board- regulated institution could realize through net operating loss carrybacks. (4) A Board-regulated institution must assign a 250 percent risk weight to the portion of each of the following items to the extent it is not deducted from common equity tier 1 capital pursuant to Sec. 217.22(d): (i) MSAs; and (ii) DTAs arising from temporary differences that the Board- regulated institution could not realize through net operating loss carrybacks. (5) A Board-regulated institution must assign a 100 percent risk weight to all assets not specifically assigned a different risk weight under this subpart and that are not deducted from tier 1 or tier 2 capital pursuant to Sec. 217.22. (6) Notwithstanding the requirements of this section, a state member bank may assign an asset that is not included in one of the categories provided in this section to the risk weight category applicable under the capital rules applicable to bank holding companies and savings and loan holding companies under this part, provided that all of the following conditions apply: (i) The Board-regulated institution is not authorized to hold the asset under applicable law other than debt previously contracted or similar authority; and (ii) The risks associated with the asset are substantially similar to the risks of assets that are otherwise assigned to a risk weight category of less than 100 percent under this subpart. (m) Insurance assets--(1) Assets held in a separate account. (i) A bank holding company or savings and loan holding company must risk- weight the individual assets held in a separate account that does not qualify as a non-guaranteed separate account as if the individual assets were held directly by the bank holding company or savings and loan holding company. (ii) A bank holding company or savings and loan holding company must assign a zero percent risk weight to an asset that is held in a non- guaranteed separate account. (2) Policy loans. A bank holding company or savings and loan holding company must assign a 20 percent risk weight to a policy loan. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62287, Oct. 11, 2013; 84 FR 35264, July 22, 2019; 85 FR 4417, Jan. 24, 2020; 85 FR 20393, Apr. 13, 2020; 85 FR 57961, Sept. 17, 2020] Sec. 217.33 Off-balance sheet exposures. (a) General. (1) A Board-regulated institution must calculate the exposure amount of an off-balance sheet exposure using the credit conversion factors (CCFs) in paragraph (b) of this section. (2) Where a Board-regulated institution commits to provide a commitment, the Board-regulated institution may apply the lower of the two applicable CCFs. [[Page 476]] (3) Where a Board-regulated institution provides a commitment structured as a syndication or participation, the Board-regulated institution is only required to calculate the exposure amount for its pro rata share of the commitment. (4) Where a Board-regulated institution provides a commitment, enters into a repurchase agreement, or provides a credit-enhancing representation and warranty, and such commitment, repurchase agreement, or credit-enhancing representation and warranty is not a securitization exposure, the exposure amount shall be no greater than the maximum contractual amount of the commitment, repurchase agreement, or credit- enhancing representation and warranty, as applicable. (b) Credit conversion factors--(1) Zero percent CCF. A Board- regulated institution must apply a zero percent CCF to the unused portion of a commitment that is unconditionally cancelable by the Board- regulated institution. (2) 20 percent CCF. A Board-regulated institution must apply a 20 percent CCF to the amount of: (i) Commitments with an original maturity of one year or less that are not unconditionally cancelable by the Board-regulated institution; and (ii) Self-liquidating, trade-related contingent items that arise from the movement of goods, with an original maturity of one year or less. (3) 50 percent CCF. A Board-regulated institution must apply a 50 percent CCF to the amount of: (i) Commitments with an original maturity of more than one year that are not unconditionally cancelable by the Board-regulated institution; and (ii) Transaction-related contingent items, including performance bonds, bid bonds, warranties, and performance standby letters of credit. (4) 100 percent CCF. A Board-regulated institution must apply a 100 percent CCF to the amount of the following off-balance-sheet items and other similar transactions: (i) Guarantees; (ii) Repurchase agreements (the off-balance sheet component of which equals the sum of the current fair values of all positions the Board- regulated institution has sold subject to repurchase); (iii) Credit-enhancing representations and warranties that are not securitization exposures; (iv) Off-balance sheet securities lending transactions (the off- balance sheet component of which equals the sum of the current fair values of all positions the Board-regulated institution has lent under the transaction); (v) Off-balance sheet securities borrowing transactions (the off- balance sheet component of which equals the sum of the current fair values of all non-cash positions the Board-regulated institution has posted as collateral under the transaction); (vi) Financial standby letters of credit; and (vii) Forward agreements. Sec. 217.34 Derivative contracts. (a) Exposure amount for derivative contracts--(1) Board-regulated institution that is not an advanced approaches Board-regulated institution. (i) A Board-regulated institution that is not an advanced approaches Board-regulated institution must use the current exposure methodology (CEM) described in paragraph (b) of this section to calculate the exposure amount for all its OTC derivative contracts, unless the Board-regulated institution makes the election provided in paragraph (a)(1)(ii) of this section. (ii) A Board-regulated institution that is not an advanced approaches Board-regulated institution may elect to calculate the exposure amount for all its OTC derivative contracts under the standardized approach for counterparty credit risk (SA-CCR) in Sec. 217.132(c) by notifying the Board, rather than calculating the exposure amount for all its derivative contracts using CEM. A Board-regulated institution that elects under this paragraph (a)(1)(ii) to calculate the exposure amount for its OTC derivative contracts under SA-CCR must apply the treatment of cleared transactions under Sec. 217.133 to its derivative contracts that are cleared transactions and to all default fund contributions associated with such derivative contracts, rather than applying Sec. 217.35. A Board-regulated institution that is not [[Page 477]] an advanced approaches Board-regulated institution must use the same methodology to calculate the exposure amount for all its derivative contracts and, if a Board-regulated institution has elected to use SA- CCR under this paragraph (a)(1)(ii), the Board-regulated institution may change its election only with prior approval of the Board. (2) Advanced approaches Board-regulated institution. An advanced approaches Board-regulated institution must calculate the exposure amount for all its derivative contracts using SA-CCR in Sec. 217.132(c) for purposes of standardized total risk-weighted assets. An advanced approaches Board-regulated institution must apply the treatment of cleared transactions under Sec. 217.133 to its derivative contracts that are cleared transactions and to all default fund contributions associated with such derivative contracts for purposes of standardized total risk-weighted assets. (b) Current exposure methodology exposure amount--(1) Single OTC derivative contract. Except as modified by paragraph (c) of this section, the exposure amount for a single OTC derivative contract that is not subject to a qualifying master netting agreement is equal to the sum of the Board-regulated institution's current credit exposure and potential future credit exposure (PFE) on the OTC derivative contract. (i) Current credit exposure. The current credit exposure for a single OTC derivative contract is the greater of the fair value of the OTC derivative contract or zero. (ii) PFE. (A) The PFE for a single OTC derivative contract, including an OTC derivative contract with a negative fair value, is calculated by multiplying the notional principal amount of the OTC derivative contract by the appropriate conversion factor in Table 1 to this section. (B) For purposes of calculating either the PFE under this paragraph (b)(1)(ii) or the gross PFE under paragraph (b)(2)(ii)(A) of this section for exchange rate contracts and other similar contracts in which the notional principal amount is equivalent to the cash flows, notional principal amount is the net receipts to each party falling due on each value date in each currency. (C) For an OTC derivative contract that does not fall within one of the specified categories in Table 1 to this section, the PFE must be calculated using the appropriate ``other'' conversion factor. (D) A Board-regulated institution must use an OTC derivative contract's effective notional principal amount (that is, the apparent or stated notional principal amount multiplied by any multiplier in the OTC derivative contract) rather than the apparent or stated notional principal amount in calculating PFE. (E) The PFE of the protection provider of a credit derivative is capped at the net present value of the amount of unpaid premiums. Table 1 to Sec. 217.34--Conversion Factor Matrix for Derivative Contracts \1\ -------------------------------------------------------------------------------------------------------------------------------------------------------- Credit Interest Foreign (investment Credit (non- Precious Remaining maturity \2\ rate exchange rate grade reference investment-grade Equity metals (except Other and gold asset) \3\ reference asset) gold) -------------------------------------------------------------------------------------------------------------------------------------------------------- One year or less......................................... 0.00 0.01 0.05 0.10 0.06 0.07 0.10 Greater than one year and less than or equal to five 0.005 0.05 0.05 0.10 0.08 0.07 0.12 years................................................... Greater than five years.................................. 0.015 0.075 0.05 0.10 0.10 0.08 0.15 -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ For a derivative contract with multiple exchanges of principal, the conversion factor is multiplied by the number of remaining payments in the derivative contract. \2\ For an OTC derivative contract that is structured such that on specified dates any outstanding exposure is settled and the terms are reset so that the fair value of the contract is zero, the remaining maturity equals the time until the next reset date. For an interest rate derivative contract with a remaining maturity of greater than one year that meets these criteria, the minimum conversion factor is 0.005. \3\ A Board-regulated institution must use the column labeled ``Credit (investment-grade reference asset)'' for a credit derivative whose reference asset is an outstanding unsecured long-term debt security without credit enhancement that is investment grade. A Board-regulated institution must use the column labeled ``Credit (non-investment-grade reference asset)'' for all other credit derivatives. [[Page 478]] (2) Multiple OTC derivative contracts subject to a qualifying master netting agreement. Except as modified by paragraph (c) of this section, the exposure amount for multiple OTC derivative contracts subject to a qualifying master netting agreement is equal to the sum of the net current credit exposure and the adjusted sum of the PFE amounts for all OTC derivative contracts subject to the qualifying master netting agreement. (i) Net current credit exposure. The net current credit exposure is the greater of the net sum of all positive and negative fair values of the individual OTC derivative contracts subject to the qualifying master netting agreement or zero. (ii) Adjusted sum of the PFE amounts. The adjusted sum of the PFE amounts, Anet, is calculated as Anet = (0.4 x Agross) + (0.6 x NGR x Agross), where: (A) Agross = the gross PFE (that is, the sum of the PFE amounts as determined under paragraph (b)(1)(ii) of this section for each individual derivative contract subject to the qualifying master netting agreement); and (B) Net-to-gross Ratio (NGR) = the ratio of the net current credit exposure to the gross current credit exposure. In calculating the NGR, the gross current credit exposure equals the sum of the positive current credit exposures (as determined under paragraph (b)(1)(i) of this section) of all individual derivative contracts subject to the qualifying master netting agreement. (c) Recognition of credit risk mitigation of collateralized OTC derivative contracts. (1) A Board-regulated institution using CEM under paragraph (b) of this section may recognize the credit risk mitigation benefits of financial collateral that secures an OTC derivative contract or multiple OTC derivative contracts subject to a qualifying master netting agreement (netting set) by using the simple approach in Sec. 217.37(b). (2) As an alternative to the simple approach, a Board-regulated institution using CEM under paragraph (b) of this section may recognize the credit risk mitigation benefits of financial collateral that secures such a contract or netting set if the financial collateral is marked-to- fair value on a daily basis and subject to a daily margin maintenance requirement by applying a risk weight to the uncollateralized portion of the exposure, after adjusting the exposure amount calculated under paragraph (b)(1) or (2) of this section using the collateral haircut approach in Sec. 217.37(c). The Board-regulated institution must substitute the exposure amount calculated under paragraph (b)(1) or (2) of this section for [Sigma]E in the equation in Sec. 217.37(c)(2). (d) Counterparty credit risk for credit derivatives--(1) Protection purchasers. A Board-regulated institution that purchases a credit derivative that is recognized under Sec. 217.36 as a credit risk mitigant for an exposure that is not a covered position under subpart F of this part is not required to compute a separate counterparty credit risk capital requirement under this subpart provided that the Board- regulated institution does so consistently for all such credit derivatives. The Board-regulated institution must either include all or exclude all such credit derivatives that are subject to a qualifying master netting agreement from any measure used to determine counterparty credit risk exposure to all relevant counterparties for risk-based capital purposes. (2) Protection providers. (i) A Board-regulated institution that is the protection provider under a credit derivative must treat the credit derivative as an exposure to the underlying reference asset. The Board- regulated institution is not required to compute a counterparty credit risk capital requirement for the credit derivative under this subpart, provided that this treatment is applied consistently for all such credit derivatives. The Board-regulated institution must either include all or exclude all such credit derivatives that are subject to a qualifying master netting agreement from any measure used to determine counterparty credit risk exposure. (ii) The provisions of this paragraph (d)(2) apply to all relevant counterparties for risk-based capital purposes unless the Board- regulated institution is treating the credit derivative as a covered position under subpart F of this part, in which case the Board-regulated [[Page 479]] institution must compute a supplemental counterparty credit risk capital requirement under this section. (e) Counterparty credit risk for equity derivatives. (1) A Board- regulated institution must treat an equity derivative contract as an equity exposure and compute a risk-weighted asset amount for the equity derivative contract under Sec. Sec. 217.51 through 217.53 (unless the Board-regulated institution is treating the contract as a covered position under subpart F of this part). (2) In addition, the Board-regulated institution must also calculate a risk-based capital requirement for the counterparty credit risk of an equity derivative contract under this section if the Board-regulated institution is treating the contract as a covered position under subpart F of this part. (3) If the Board-regulated institution risk weights the contract under the Simple Risk-Weight Approach (SRWA) in Sec. 217.52, the Board- regulated institution may choose not to hold risk-based capital against the counterparty credit risk of the equity derivative contract, as long as it does so for all such contracts. Where the equity derivative contracts are subject to a qualified master netting agreement, a Board- regulated institution using the SRWA must either include all or exclude all of the contracts from any measure used to determine counterparty credit risk exposure. (f) Clearing member Board-regulated institution's exposure amount. The exposure amount of a clearing member Board-regulated institution using CEM under paragraph (b) of this section for a client-facing derivative transaction or netting set of client-facing derivative transactions equals the exposure amount calculated according to paragraph (b)(1) or (2) of this section multiplied by the scaling factor the square root of \1/2\ (which equals 0.707107). If the Board-regulated institution determines that a longer period is appropriate, the Board- regulated institution must use a larger scaling factor to adjust for a longer holding period as follows: [GRAPHIC] [TIFF OMITTED] TR24JA20.024 Where H = the holding period greater than or equal to five days. Additionally, the Board may require the Board-regulated institution to set a longer holding period if the Board determines that a longer period is appropriate due to the nature, structure, or characteristics of the transaction or is commensurate with the risks associated with the transaction. [Reg. Q, 85 FR 4417, Jan. 24, 2020] Sec. 217.35 Cleared transactions. (a) General requirements--(1) Clearing member clients. A Board- regulated institution that is a clearing member client must use the methodologies described in paragraph (b) of this section to calculate risk-weighted assets for a cleared transaction. (2) Clearing members. A Board-regulated institution that is a clearing member must use the methodologies described in paragraph (c) of this section to calculate its risk-weighted assets for a cleared transaction and paragraph (d) of this section to calculate its risk- weighted assets for its default fund contribution to a CCP. (3) Alternate requirements. Notwithstanding any other provision of this section, an advanced approaches Board-regulated institution or a Board-regulated institution that is not an advanced approaches Board- regulated institution and that has elected to use SA-CCR under Sec. 217.34(a)(1) must apply Sec. 217.133 to its derivative contracts that are cleared transactions rather than this section. (b) Clearing member client Board-regulated institutions--(1) Risk- weighted assets for cleared transactions. (i) To determine the risk- weighted asset amount for a cleared transaction, a Board-regulated institution that is a clearing [[Page 480]] member client must multiply the trade exposure amount for the cleared transaction, calculated in accordance with paragraph (b)(2) of this section, by the risk weight appropriate for the cleared transaction, determined in accordance with paragraph (b)(3) of this section. (ii) A clearing member client Board-regulated institution's total risk-weighted assets for cleared transactions is the sum of the risk- weighted asset amounts for all its cleared transactions. (2) Trade exposure amount. (i) For a cleared transaction that is either a derivative contract or a netting set of derivative contracts, the trade exposure amount equals: (A) The exposure amount for the derivative contract or netting set of derivative contracts, calculated using the methodology used to calculate exposure amount for OTC derivative contracts under Sec. 217.34; plus (B) The fair value of the collateral posted by the clearing member client Board-regulated institution and held by the CCP, clearing member, or custodian in a manner that is not bankruptcy remote. (ii) For a cleared transaction that is a repo-style transaction or netting set of repo-style transactions, the trade exposure amount equals: (A) The exposure amount for the repo-style transaction calculated using the methodologies under Sec. 217.37(c); plus (B) The fair value of the collateral posted by the clearing member client Board-regulated institution and held by the CCP, clearing member, or custodian in a manner that is not bankruptcy remote. (3) Cleared transaction risk weights. (i) For a cleared transaction with a QCCP, a clearing member client Board-regulated institution must apply a risk weight of: (A) 2 percent if the collateral posted by the Board-regulated institution to the QCCP or clearing member is subject to an arrangement that prevents any losses to the clearing member client Board-regulated institution due to the joint default or a concurrent insolvency, liquidation, or receivership proceeding of the clearing member and any other clearing member clients of the clearing member; and the clearing member client Board-regulated institution has conducted sufficient legal review to conclude with a well-founded basis (and maintains sufficient written documentation of that legal review) that in the event of a legal challenge (including one resulting from an event of default or from liquidation, insolvency, or receivership proceedings) the relevant court and administrative authorities would find the arrangements to be legal, valid, binding and enforceable under the law of the relevant jurisdictions; or (B) 4 percent if the requirements of Sec. 217.35(b)(3)(A) are not met. (ii) For a cleared transaction with a CCP that is not a QCCP, a clearing member client Board-regulated institution must apply the risk weight appropriate for the CCP according to this subpart D. (4) Collateral. (i) Notwithstanding any other requirements in this section, collateral posted by a clearing member client Board-regulated institution that is held by a custodian (in its capacity as custodian) in a manner that is bankruptcy remote from the CCP, clearing member, and other clearing member clients of the clearing member, is not subject to a capital requirement under this section. (ii) A clearing member client Board-regulated institution must calculate a risk-weighted asset amount for any collateral provided to a CCP, clearing member, or custodian in connection with a cleared transaction in accordance with the requirements under this subpart D. (c) Clearing member Board-regulated institutions--(1) Risk-weighted assets for cleared transactions. (i) To determine the risk-weighted asset amount for a cleared transaction, a clearing member Board-regulated institution must multiply the trade exposure amount for the cleared transaction, calculated in accordance with paragraph (c)(2) of this section, by the risk weight appropriate for the cleared transaction, determined in accordance with paragraph (c)(3) of this section. (ii) A clearing member Board-regulated institution's total risk- weighted assets for cleared transactions is the sum of the risk-weighted asset [[Page 481]] amounts for all of its cleared transactions. (2) Trade exposure amount. A clearing member Board-regulated institution must calculate its trade exposure amount for a cleared transaction as follows: (i) For a cleared transaction that is either a derivative contract or a netting set of derivative contracts, the trade exposure amount equals: (A) The exposure amount for the derivative contract, calculated using the methodology to calculate exposure amount for OTC derivative contracts under Sec. 217.34; plus (B) The fair value of the collateral posted by the clearing member Board-regulated institution and held by the CCP in a manner that is not bankruptcy remote. (ii) For a cleared transaction that is a repo-style transaction or netting set of repo-style transactions, trade exposure amount equals: (A) The exposure amount for repo-style transactions calculated using methodologies under Sec. 217.37(c); plus (B) The fair value of the collateral posted by the clearing member Board-regulated institution and held by the CCP in a manner that is not bankruptcy remote. (3) Cleared transaction risk weight. (i) A clearing member Board- regulated institution must apply a risk weight of 2 percent to the trade exposure amount for a cleared transaction with a QCCP. (ii) For a cleared transaction with a CCP that is not a QCCP, a clearing member Board-regulated institution must apply the risk weight appropriate for the CCP according to this subpart D. (iii) Notwithstanding paragraphs (c)(3)(i) and (ii) of this section, a clearing member Board-regulated institution may apply a risk weight of zero percent to the trade exposure amount for a cleared transaction with a CCP where the clearing member Board-regulated institution is acting as a financial intermediary on behalf of a clearing member client, the transaction offsets another transaction that satisfies the requirements set forth in Sec. 217.3(a), and the clearing member Board-regulated institution is not obligated to reimburse the clearing member client in the event of the CCP default. (4) Collateral. (i) Notwithstanding any other requirement in this section, collateral posted by a clearing member Board-regulated institution that is held by a custodian in a manner that is bankruptcy remote from the CCP is not subject to a capital requirement under this section. (ii) A clearing member Board-regulated institution must calculate a risk-weighted asset amount for any collateral provided to a CCP, clearing member, or a custodian in connection with a cleared transaction in accordance with requirements under this subpart D. (d) Default fund contributions--(1) General requirement. A clearing member Board-regulated institution must determine the risk-weighted asset amount for a default fund contribution to a CCP at least quarterly, or more frequently if, in the opinion of the Board-regulated institution or the Board, there is a material change in the financial condition of the CCP. (2) Risk-weighted asset amount for default fund contributions to non-qualifying CCPs. A clearing member Board-regulated institution's risk-weighted asset amount for default fund contributions to CCPs that are not QCCPs equals the sum of such default fund contributions multiplied by 1,250 percent, or an amount determined by the Board, based on factors such as size, structure and membership characteristics of the CCP and riskiness of its transactions, in cases where such default fund contributions may be unlimited. (3) Risk-weighted asset amount for default fund contributions to QCCPs. A clearing member Board-regulated institution's risk-weighted asset amount for default fund contributions to QCCPs equals the sum of its capital requirement, KCM for each QCCP, as calculated under the methodology set forth in paragraphs (d)(3)(i) through (iii) of this section (Method 1), multiplied by 1,250 percent or in paragraphs (d)(3)(iv) of this section (Method 2). (i) Method 1. The hypothetical capital requirement of a QCCP (KCCP) equals: [[Page 482]] [GRAPHIC] [TIFF OMITTED] TR11OC13.058 Where: (A) EBRMi = the exposure amount for each transaction cleared through the QCCP by clearing member i, calculated in accordance with Sec. 217.34 for OTC derivative contracts and Sec. 217.37(c)(2) for repo-style transactions, provided that: (1) For purposes of this section, in calculating the exposure amount the Board-regulated institution may replace the formula provided in Sec. 217.34(a)(2)(ii) with the following: Anet = (0.15 x Agross) + (0.85 x NGR x Agross); and (2) For option derivative contracts that are cleared transactions, the PFE described in Sec. 217.34(a)(1)(ii) must be adjusted by multiplying the notional principal amount of the derivative contract by the appropriate conversion factor in Table 1 to Sec. 217.34 and the absolute value of the option's delta, that is, the ratio of the change in the value of the derivative contract to the corresponding change in the price of the underlying asset. (3) For repo-style transactions, when applying Sec. 217.37(c)(2), the Board-regulated institution must use the methodology in Sec. 217.37(c)(3); (B) VMi = any collateral posted by clearing member i to the QCCP that it is entitled to receive from the QCCP, but has not yet received, and any collateral that the QCCP has actually received from clearing member i; (C) IMi = the collateral posted as initial margin by clearing member i to the QCCP; (D) DFi = the funded portion of clearing member i's default fund contribution that will be applied to reduce the QCCP's loss upon a default by clearing member i; (E) RW = 20 percent, except when the Board has determined that a higher risk weight is more appropriate based on the specific characteristics of the QCCP and its clearing members; and (F) Where a QCCP has provided its KCCP, a Board-regulated institution must rely on such disclosed figure instead of calculating KCCP under this paragraph (d), unless the Board-regulated institution determines that a more conservative figure is appropriate based on the nature, structure, or characteristics of the QCCP. (ii) For a Board-regulated institution that is a clearing member of a QCCP with a default fund supported by funded commitments, KCM equals: [GRAPHIC] [TIFF OMITTED] TR11OC13.016 [[Page 483]] Subscripts 1 and 2 denote the clearing members with the two largest ANet values. For purposes of this paragraph (d), for derivatives ANet is defined in Sec. 217.34(a)(2)(ii) and for repo-style transactions, ANet means the exposure amount as defined in Sec. 217.37(c)(2) using the methodology in Sec. 217.37(c)(3); (B) N = the number of clearing members in the QCCP; (C) DFCCP = the QCCP's own funds and other financial resources that would be used to cover its losses before clearing members' default fund contributions are used to cover losses; (D) DFCM = funded default fund contributions from all clearing members and any other clearing member contributed financial resources that are available to absorb mutualized QCCP losses; (E) DF = DFCCP + DFCM (that is, the total funded default fund contribution); [[Page 484]] [GRAPHIC] [TIFF OMITTED] TR11OC13.017 Where: (1) DFi = the Board-regulated institution's unfunded commitment to the default fund; (2) DFCM = the total of all clearing members' unfunded commitment to the default fund; and (3) K*CM as defined in paragraph (d)(3)(ii) of this section. (B) For a Board-regulated institution that is a clearing member of a QCCP with a default fund supported by unfunded commitments and is unable to calculate KCM using the methodology described in paragraph (d)(3)(iii) of this section, KCM equals: [[Page 485]] [GRAPHIC] [TIFF OMITTED] TR11OC13.018 Where: (1) IMi = the Board-regulated institution's initial margin posted to the QCCP; (2) IMCM = the total of initial margin posted to the QCCP; and (3)K*CM as defined in paragraph (d)(3)(ii) of this section. (iv) Method 2. A clearing member Board-regulated institution's risk- weighted asset amount for its default fund contribution to a QCCP, RWADF, equals: RWADF = Min {12.5 * DF; 0.18 * TE{time} Where: (A) TE = the Board-regulated institution's trade exposure amount to the QCCP, calculated according to section 35(c)(2); (B) DF = the funded portion of the Board-regulated institution's default fund contribution to the QCCP. (4) Total risk-weighted assets for default fund contributions. Total risk-weighted assets for default fund contributions is the sum of a clearing member Board-regulated institution's risk-weighted assets for all of its default fund contributions to all CCPs of which the Board- regulated institution is a clearing member. [Reg. Q, 78 FR 62157, Oct. 11, 2013, as amended at 84 FR 35266, July 22, 2019; 85 FR 4419, Jan. 24, 2020] Sec. 217.36 Guarantees and credit derivatives: substitution treatment. (a) Scope--(1) General. A Board-regulated institution may recognize the credit risk mitigation benefits of an eligible guarantee or eligible credit derivative by substituting the risk weight associated with the protection provider for the risk weight assigned to an exposure, as provided under this section. (2) This section applies to exposures for which: (i) Credit risk is fully covered by an eligible guarantee or eligible credit derivative; or (ii) Credit risk is covered on a pro rata basis (that is, on a basis in which the Board-regulated institution and the protection provider share losses proportionately) by an eligible guarantee or eligible credit derivative. (3) Exposures on which there is a tranching of credit risk (reflecting at least two different levels of seniority) generally are securitization exposures subject to Sec. Sec. 217.41 through 217.45. (4) If multiple eligible guarantees or eligible credit derivatives cover a single exposure described in this section, a Board-regulated institution may treat the hedged exposure as multiple separate exposures each covered by a single eligible guarantee or eligible credit derivative and may calculate a separate risk-weighted asset amount for each separate exposure as described in paragraph (c) of this section. (5) If a single eligible guarantee or eligible credit derivative covers multiple hedged exposures described in paragraph (a)(2) of this section, a Board-regulated institution must treat each hedged exposure as covered by a separate eligible guarantee or eligible credit derivative and must calculate a separate risk-weighted asset amount for each exposure as described in paragraph (c) of this section. (b) Rules of recognition. (1) A Board-regulated institution may only recognize the credit risk mitigation benefits of eligible guarantees and eligible credit derivatives. (2) A Board-regulated institution may only recognize the credit risk mitigation benefits of an eligible credit derivative to hedge an exposure that is different from the credit derivative's reference exposure used for determining the derivative's cash settlement value, deliverable obligation, or occurrence of a credit event if: (i) The reference exposure ranks pari passu with, or is subordinated to, the hedged exposure; and (ii) The reference exposure and the hedged exposure are to the same legal entity, and legally enforceable cross- [[Page 486]] default or cross-acceleration clauses are in place to ensure payments under the credit derivative are triggered when the obligated party of the hedged exposure fails to pay under the terms of the hedged exposure. (c) Substitution approach--(1) Full coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is greater than or equal to the exposure amount of the hedged exposure, a Board-regulated institution may recognize the guarantee or credit derivative in determining the risk-weighted asset amount for the hedged exposure by substituting the risk weight applicable to the guarantor or credit derivative protection provider under this subpart D for the risk weight assigned to the exposure. (2) Partial coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is less than the exposure amount of the hedged exposure, the Board-regulated institution must treat the hedged exposure as two separate exposures (protected and unprotected) in order to recognize the credit risk mitigation benefit of the guarantee or credit derivative. (i) The Board-regulated institution may calculate the risk-weighted asset amount for the protected exposure under this subpart D, where the applicable risk weight is the risk weight applicable to the guarantor or credit derivative protection provider. (ii) The Board-regulated institution must calculate the risk- weighted asset amount for the unprotected exposure under this subpart D, where the applicable risk weight is that of the unprotected portion of the hedged exposure. (iii) The treatment provided in this section is applicable when the credit risk of an exposure is covered on a partial pro rata basis and may be applicable when an adjustment is made to the effective notional amount of the guarantee or credit derivative under paragraphs (d), (e), or (f) of this section. (d) Maturity mismatch adjustment. (1) A Board-regulated institution that recognizes an eligible guarantee or eligible credit derivative in determining the risk-weighted asset amount for a hedged exposure must adjust the effective notional amount of the credit risk mitigant to reflect any maturity mismatch between the hedged exposure and the credit risk mitigant. (2) A maturity mismatch occurs when the residual maturity of a credit risk mitigant is less than that of the hedged exposure(s). (3) The residual maturity of a hedged exposure is the longest possible remaining time before the obligated party of the hedged exposure is scheduled to fulfil its obligation on the hedged exposure. If a credit risk mitigant has embedded options that may reduce its term, the Board-regulated institution (protection purchaser) must use the shortest possible residual maturity for the credit risk mitigant. If a call is at the discretion of the protection provider, the residual maturity of the credit risk mitigant is at the first call date. If the call is at the discretion of the Board-regulated institution (protection purchaser), but the terms of the arrangement at origination of the credit risk mitigant contain a positive incentive for the Board- regulated institution to call the transaction before contractual maturity, the remaining time to the first call date is the residual maturity of the credit risk mitigant. (4) A credit risk mitigant with a maturity mismatch may be recognized only if its original maturity is greater than or equal to one year and its residual maturity is greater than three months. (5) When a maturity mismatch exists, the Board-regulated institution must apply the following adjustment to reduce the effective notional amount of the credit risk mitigant: Pm = E x (t-0.25)/(T-0.25), where: (i) Pm = effective notional amount of the credit risk mitigant, adjusted for maturity mismatch; (ii) E = effective notional amount of the credit risk mitigant; (iii) t = the lesser of T or the residual maturity of the credit risk mitigant, expressed in years; and [[Page 487]] (iv) T = the lesser of five or the residual maturity of the hedged exposure, expressed in years. (e) Adjustment for credit derivatives without restructuring as a credit event. If a Board-regulated institution recognizes an eligible credit derivative that does not include as a credit event a restructuring of the hedged exposure involving forgiveness or postponement of principal, interest, or fees that results in a credit loss event (that is, a charge-off, specific provision, or other similar debit to the profit and loss account), the Board-regulated institution must apply the following adjustment to reduce the effective notional amount of the credit derivative: Pr = Pm x 0.60, where: (1) Pr = effective notional amount of the credit risk mitigant, adjusted for lack of restructuring event (and maturity mismatch, if applicable); and (2) Pm = effective notional amount of the credit risk mitigant (adjusted for maturity mismatch, if applicable). (f) Currency mismatch adjustment. (1) If a Board-regulated institution recognizes an eligible guarantee or eligible credit derivative that is denominated in a currency different from that in which the hedged exposure is denominated, the Board-regulated institution must apply the following formula to the effective notional amount of the guarantee or credit derivative: Pc = Pr x (1- HFX), where: (i) Pc = effective notional amount of the credit risk mitigant, adjusted for currency mismatch (and maturity mismatch and lack of restructuring event, if applicable); (ii) Pr = effective notional amount of the credit risk mitigant (adjusted for maturity mismatch and lack of restructuring event, if applicable); and (iii) HFX = haircut appropriate for the currency mismatch between the credit risk mitigant and the hedged exposure. (2) A Board-regulated institution must set HFX equal to eight percent unless it qualifies for the use of and uses its own internal estimates of foreign exchange volatility based on a ten- business-day holding period. A Board-regulated institution qualifies for the use of its own internal estimates of foreign exchange volatility if it qualifies for the use of its own-estimates haircuts in Sec. 217.37(c)(4). (3) A Board-regulated institution must adjust HFX calculated in paragraph (f)(2) of this section upward if the Board- regulated institution revalues the guarantee or credit derivative less frequently than once every 10 business days using the following square root of time formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.021 [Reg. Q, 78 FR 62157, Oct. 11, 2013, as amended at 84 FR 35266, July 22, 2019] Sec. 217.37 Collateralized transactions. (a) General. (1) To recognize the risk-mitigating effects of financial collateral, a Board-regulated institution may use: (i) The simple approach in paragraph (b) of this section for any exposure; or (ii) The collateral haircut approach in paragraph (c) of this section for repo-style transactions, eligible margin loans, collateralized derivative contracts, and single-product netting sets of such transactions. (2) A Board-regulated institution may use any approach described in this section that is valid for a particular type of exposure or transaction; however, it must use the same approach for similar exposures or transactions. (b) The simple approach--(1) General requirements. (i) A Board- regulated institution may recognize the credit risk mitigation benefits of financial collateral that secures any exposure. [[Page 488]] (ii) To qualify for the simple approach, the financial collateral must meet the following requirements: (A) The collateral must be subject to a collateral agreement for at least the life of the exposure; (B) The collateral must be revalued at least every six months; and (C) The collateral (other than gold) and the exposure must be denominated in the same currency. (2) Risk weight substitution. (i) A Board-regulated institution may apply a risk weight to the portion of an exposure that is secured by the fair value of financial collateral (that meets the requirements of paragraph (b)(1) of this section) based on the risk weight assigned to the collateral under this subpart D. For repurchase agreements, reverse repurchase agreements, and securities lending and borrowing transactions, the collateral is the instruments, gold, and cash the Board-regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty under the transaction. Except as provided in paragraph (b)(3) of this section, the risk weight assigned to the collateralized portion of the exposure may not be less than 20 percent. (ii) A Board-regulated institution must apply a risk weight to the unsecured portion of the exposure based on the risk weight applicable to the exposure under this subpart. (3) Exceptions to the 20 percent risk-weight floor and other requirements. Notwithstanding paragraph (b)(2)(i) of this section: (i) A Board-regulated institution may assign a zero percent risk weight to an exposure to an OTC derivative contract that is marked-to- market on a daily basis and subject to a daily margin maintenance requirement, to the extent the contract is collateralized by cash on deposit. (ii) A Board-regulated institution may assign a 10 percent risk weight to an exposure to an OTC derivative contract that is marked-to- market daily and subject to a daily margin maintenance requirement, to the extent that the contract is collateralized by an exposure to a sovereign that qualifies for a zero percent risk weight under Sec. 217.32. (iii) A Board-regulated institution may assign a zero percent risk weight to the collateralized portion of an exposure where: (A) The financial collateral is cash on deposit; or (B) The financial collateral is an exposure to a sovereign that qualifies for a zero percent risk weight under Sec. 217.32, and the Board-regulated institution has discounted the fair value of the collateral by 20 percent. (c) Collateral haircut approach--(1) General. A Board-regulated institution may recognize the credit risk mitigation benefits of financial collateral that secures an eligible margin loan, repo-style transaction, collateralized derivative contract, or single-product netting set of such transactions, and of any collateral that secures a repo-style transaction that is included in the Board-regulated institution's VaR-based measure under subpart F of this part by using the collateral haircut approach in this section. A Board-regulated institution may use the standard supervisory haircuts in paragraph (c)(3) of this section or, with prior written approval of the Board, its own estimates of haircuts according to paragraph (c)(4) of this section. (2) Exposure amount equation. A Board-regulated institution must determine the exposure amount for an eligible margin loan, repo-style transaction, collateralized derivative contract, or a single-product netting set of such transactions by setting the exposure amount equal to max {0, [([Sigma]E - [Sigma]C) + [Sigma](Es x Hs) + [Sigma](Efx x Hfx)]{time} , where: (i)(A) For eligible margin loans and repo-style transactions and netting sets thereof, [Sigma]E equals the value of the exposure (the sum of the current fair values of all instruments, gold, and cash the Board- regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty under the transaction (or netting set)); and (B) For collateralized derivative contracts and netting sets thereof, [Sigma]E equals the exposure amount of the OTC derivative contract (or netting set) calculated under Sec. 217.34(b)(1) or (2). (ii) [Sigma]C equals the value of the collateral (the sum of the current fair values of all instruments, gold and cash the [[Page 489]] Board-regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty under the transaction (or netting set)); (iii) Es equals the absolute value of the net position in a given instrument or in gold (where the net position in the instrument or gold equals the sum of the current fair values of the instrument or gold the Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty minus the sum of the current fair values of that same instrument or gold the Board-regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty); (iv) Hs equals the market price volatility haircut appropriate to the instrument or gold referenced in Es; (v) Efx equals the absolute value of the net position of instruments and cash in a currency that is different from the settlement currency (where the net position in a given currency equals the sum of the current fair values of any instruments or cash in the currency the Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty minus the sum of the current fair values of any instruments or cash in the currency the Board- regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty); and (vi) Hfx equals the haircut appropriate to the mismatch between the currency referenced in Efx and the settlement currency. (3) Standard supervisory haircuts. (i) A Board-regulated institution must use the haircuts for market price volatility (Hs) provided in Table 1 to Sec. 217.37, as adjusted in certain circumstances in accordance with the requirements of paragraphs (c)(3)(iii) and (iv) of this section. Table 1 to Sec. 217.37--Standard Supervisory Market Price Volatility Haircuts \1\ ---------------------------------------------------------------------------------------------------------------- Haircut (in percent) assigned based on: ------------------------------------------------------------ Investment Sovereign issuers risk Non-sovereign issuers risk grade Residual maturity weight under Sec. 217.32 weight under Sec. 217.32 securitization (in percent) \2\ (in percent) exposures (in ------------------------------------------------------------ percent) Zero 20 or 50 100 20 50 100 ---------------------------------------------------------------------------------------------------------------- Less than or equal to 1 year........ 0.5 1.0 15.0 1.0 2.0 4.0 4.0 Greater than 1 year and less than or 2.0 3.0 15.0 4.0 6.0 8.0 12.0 equal to 5 years................... Greater than 5 years................ 4.0 6.0 15.0 8.0 12.0 16.0 24.0 ---------------------------------------------------------------------------------------------------------------- Main index equities (including convertible bonds) and g15.0....... ---------------------------------------------------------------------------------------------------------------- Other publicly traded equities (including convertible b25.0)...... ---------------------------------------------------------------------------------------------------------------- Mutual funds.............................Highest haircut applicable to any security in which the fund can invest. ---------------------------------------------------------------------------------------------------------------- Cash collateral held...................................Zero....... ---------------------------------------------------------------------------------------------------------------- Other exposure types...................................25.0....... ---------------------------------------------------------------------------------------------------------------- \1\ The market price volatility haircuts in Table 1 to Sec. 217.37 are based on a 10 business-day holding period. \2\ Includes a foreign PSE that receives a zero percent risk weight. (ii) For currency mismatches, a Board-regulated institution must use a haircut for foreign exchange rate volatility (Hfx) of 8.0 percent, as adjusted in certain circumstances under paragraphs (c)(3)(iii) and (iv) of this section. (iii) For repo-style transactions and client-facing derivative transactions, a Board-regulated institution may multiply the standard supervisory haircuts provided in paragraphs (c)(3)(i) and (ii) of this section by the square root of \1/2\ (which equals 0.707107). For client- facing derivative transactions, if a larger scaling factor is applied under Sec. 217.34(f), the same factor must be used to adjust the supervisory haircuts. (iv) If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must adjust the supervisory [[Page 490]] haircuts provided in paragraphs (c)(3)(i) and (ii) of this section upward on the basis of a holding period of twenty business days for the following quarter except in the calculation of the exposure amount for purposes of Sec. 217.35. If a netting set contains one or more trades involving illiquid collateral or an OTC derivative that cannot be easily replaced, a Board-regulated institution must adjust the supervisory haircuts upward on the basis of a holding period of twenty business days. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the holding period, then the Board-regulated institution must adjust the supervisory haircuts upward for that netting set on the basis of a holding period that is at least two times the minimum holding period for that netting set. A Board-regulated institution must adjust the standard supervisory haircuts upward using the following formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.022 (A) TM equals a holding period of longer than 10 business days for eligible margin loans and derivative contracts other than client-facing derivative transactions or longer than 5 business days for repo-style transactions and client-facing derivative transactions; (B) HS equals the standard supervisory haircut; and (C) TS equals 10 business days for eligible margin loans and derivative contracts other than client-facing derivative transactions or 5 business days for repo-style transactions and client- facing derivative transactions. (v) If the instrument a Board-regulated institution has lent, sold subject to repurchase, or posted as collateral does not meet the definition of financial collateral, the Board-regulated institution must use a 25.0 percent haircut for market price volatility (Hs). (4) Own internal estimates for haircuts. With the prior written approval of the Board, a Board-regulated institution may calculate haircuts (Hs and Hfx) using its own internal estimates of the volatilities of market prices and foreign exchange rates: (i) To receive Board approval to use its own internal estimates, a Board-regulated institution must satisfy the following minimum standards: (A) A Board-regulated institution must use a 99th percentile one- tailed confidence interval. (B) The minimum holding period for a repo-style transaction and client-facing derivative transaction is five business days and for an eligible margin loan and a derivative contract other than a client- facing derivative transaction is ten business days except for transactions or netting sets for which paragraph (c)(4)(i)(C) of this section applies. When a Board-regulated institution calculates an own- estimates haircut on a TN-day holding period, which is different from the minimum holding period for the transaction type, the applicable haircut (HM) is calculated using the following square root of time formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.023 (1) TM equals 5 for repo-style transactions and client- facing derivative transactions and 10 for eligible margin loans and derivative contracts other than client-facing derivative transactions; (2) TN equals the holding period used by the Board- regulated institution to derive HN; and (3) HN equals the haircut based on the holding period TN. (C) If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must calculate the haircut using a minimum holding period of twenty business days for the following quarter except in the calculation of the exposure amount for purposes of Sec. 217.35. If a netting set contains one or more trades involving illiquid collateral or an OTC derivative that cannot be easily replaced, a Board-regulated institution must calculate the haircut using a minimum holding period of twenty business days. If over the two [[Page 491]] previous quarters more than two margin disputes on a netting set have occurred that lasted more than the holding period, then the Board- regulated institution must calculate the haircut for transactions in that netting set on the basis of a holding period that is at least two times the minimum holding period for that netting set. (D) A Board-regulated institution is required to calculate its own internal estimates with inputs calibrated to historical data from a continuous 12-month period that reflects a period of significant financial stress appropriate to the security or category of securities. (E) A Board-regulated institution must have policies and procedures that describe how it determines the period of significant financial stress used to calculate the Board-regulated institution's own internal estimates for haircuts under this section and must be able to provide empirical support for the period used. The Board-regulated institution must obtain the prior approval of the Board for, and notify the Board if the Board-regulated institution makes any material changes to, these policies and procedures. (F) Nothing in this section prevents the Board from requiring a Board-regulated institution to use a different period of significant financial stress in the calculation of own internal estimates for haircuts. (G) A Board-regulated institution must update its data sets and calculate haircuts no less frequently than quarterly and must also reassess data sets and haircuts whenever market prices change materially. (ii) With respect to debt securities that are investment grade, a Board-regulated institution may calculate haircuts for categories of securities. For a category of securities, the Board-regulated institution must calculate the haircut on the basis of internal volatility estimates for securities in that category that are representative of the securities in that category that the Board- regulated institution has lent, sold subject to repurchase, posted as collateral, borrowed, purchased subject to resale, or taken as collateral. In determining relevant categories, the Board-regulated institution must at a minimum take into account: (A) The type of issuer of the security; (B) The credit quality of the security; (C) The maturity of the security; and (D) The interest rate sensitivity of the security. (iii) With respect to debt securities that are not investment grade and equity securities, a Board-regulated institution must calculate a separate haircut for each individual security. (iv) Where an exposure or collateral (whether in the form of cash or securities) is denominated in a currency that differs from the settlement currency, the Board-regulated institution must calculate a separate currency mismatch haircut for its net position in each mismatched currency based on estimated volatilities of foreign exchange rates between the mismatched currency and the settlement currency. (v) A Board-regulated institution's own estimates of market price and foreign exchange rate volatilities may not take into account the correlations among securities and foreign exchange rates on either the exposure or collateral side of a transaction (or netting set) or the correlations among securities and foreign exchange rates between the exposure and collateral sides of the transaction (or netting set). [Reg. Q, 78 FR 62157, Oct. 11, 2013, as amended at 84 FR 35266, July 22, 2019; 85 FR 4419, Jan. 24, 2020; 85 FR 57961, Sept. 17, 2020] Risk-Weighted Assets for Unsettled Transactions Sec. 217.38 Unsettled transactions. (a) Definitions. For purposes of this section: (1) Delivery-versus-payment (DvP) transaction means a securities or commodities transaction in which the buyer is obligated to make payment only if the seller has made delivery of the securities or commodities and the seller is obligated to deliver the securities or commodities only if the buyer has made payment. (2) Payment-versus-payment (PvP) transaction means a foreign exchange transaction in which each counterparty is obligated to make a final transfer of one or more currencies only if the other counterparty has [[Page 492]] made a final transfer of one or more currencies. (3) A transaction has a normal settlement period if the contractual settlement period for the transaction is equal to or less than the market standard for the instrument underlying the transaction and equal to or less than five business days. (4) Positive current exposure of a Board-regulated institution for a transaction is the difference between the transaction value at the agreed settlement price and the current market price of the transaction, if the difference results in a credit exposure of the Board-regulated institution to the counterparty. (b) Scope. This section applies to all transactions involving securities, foreign exchange instruments, and commodities that have a risk of delayed settlement or delivery. This section does not apply to: (1) Cleared transactions that are marked-to-market daily and subject to daily receipt and payment of variation margin; (2) Repo-style transactions, including unsettled repo-style transactions; (3) One-way cash payments on OTC derivative contracts; or (4) Transactions with a contractual settlement period that is longer than the normal settlement period (which are treated as OTC derivative contracts as provided in Sec. 217.34). (c) System-wide failures. In the case of a system-wide failure of a settlement, clearing system or central counterparty, the Board may waive risk-based capital requirements for unsettled and failed transactions until the situation is rectified. (d) Delivery-versus-payment (DvP) and payment-versus-payment (PvP) transactions. A Board-regulated institution must hold risk-based capital against any DvP or PvP transaction with a normal settlement period if the Board-regulated institution's counterparty has not made delivery or payment within five business days after the settlement date. The Board- regulated institution must determine its risk-weighted asset amount for such a transaction by multiplying the positive current exposure of the transaction for the Board-regulated institution by the appropriate risk weight in Table 1 to Sec. 217.38. Table 1 to Sec. 217.38--Risk Weights for Unsettled DvP and PvP Transactions ------------------------------------------------------------------------ Risk weight to be applied to Number of business days after contractual settlement positive current date exposure (in percent) ------------------------------------------------------------------------ From 5 to 15.......................................... 100.0 From 16 to 30......................................... 625.0 From 31 to 45......................................... 937.5 46 or more............................................ 1,250.0 ------------------------------------------------------------------------ (e) Non-DvP/non-PvP (non-delivery-versus-payment/non-payment-versus- payment) transactions. (1) A Board-regulated institution must hold risk- based capital against any non-DvP/non-PvP transaction with a normal settlement period if the Board-regulated institution has delivered cash, securities, commodities, or currencies to its counterparty but has not received its corresponding deliverables by the end of the same business day. The Board-regulated institution must continue to hold risk-based capital against the transaction until the Board-regulated institution has received its corresponding deliverables. (2) From the business day after the Board-regulated institution has made its delivery until five business days after the counterparty delivery is due, the Board-regulated institution must calculate the risk-weighted asset amount for the transaction by treating the current fair value of the deliverables owed to the Board-regulated institution as an exposure to the counterparty and using the applicable counterparty risk weight under this subpart D. (3) If the Board-regulated institution has not received its deliverables by the fifth business day after counterparty delivery was due, the Board-regulated institution must assign a 1,250 percent risk weight to the current fair value of the deliverables owed to the Board- regulated institution. (f) Total risk-weighted assets for unsettled transactions. Total risk-weighted assets for unsettled transactions is the sum of the risk- weighted asset [[Page 493]] amounts of all DvP, PvP, and non-DvP/non-PvP transactions. [Reg. Q, 78 FR 62157, Oct. 11, 2013, as amended at 84 FR 35266, July 22, 2019] Sec. Sec. 217.39-217.40 [Reserved] Risk-Weighted Assets for Securitization Exposures Sec. 217.41 Operational requirements for securitization exposures. (a) Operational criteria for traditional securitizations. A Board- regulated institution that transfers exposures it has originated or purchased to a securitization SPE or other third party in connection with a traditional securitization may exclude the exposures from the calculation of its risk-weighted assets only if each condition in this section is satisfied. A Board-regulated institution that meets these conditions must hold risk-based capital against any credit risk it retains in connection with the securitization. A Board-regulated institution that fails to meet these conditions must hold risk-based capital against the transferred exposures as if they had not been securitized and must deduct from common equity tier 1 capital any after- tax gain-on-sale resulting from the transaction. The conditions are: (1) The exposures are not reported on the Board-regulated institution's consolidated balance sheet under GAAP; (2) The Board-regulated institution has transferred to one or more third parties credit risk associated with the underlying exposures; (3) Any clean-up calls relating to the securitization are eligible clean-up calls; and (4) The securitization does not: (i) Include one or more underlying exposures in which the borrower is permitted to vary the drawn amount within an agreed limit under a line of credit; and (ii) Contain an early amortization provision. (b) Operational criteria for synthetic securitizations. For synthetic securitizations, a Board-regulated institution may recognize for risk-based capital purposes the use of a credit risk mitigant to hedge underlying exposures only if each condition in this paragraph (b) is satisfied. A Board-regulated institution that meets these conditions must hold risk-based capital against any credit risk of the exposures it retains in connection with the synthetic securitization. A Board- regulated institution that fails to meet these conditions or chooses not to recognize the credit risk mitigant for purposes of this section must instead hold risk-based capital against the underlying exposures as if they had not been synthetically securitized. The conditions are: (1) The credit risk mitigant is: (i) Financial collateral; (ii) A guarantee that meets all criteria as set forth in the definition of ``eligible guarantee'' in Sec. 217.2, except for the criteria in paragraph (3) of that definition; or (iii) A credit derivative that meets all criteria as set forth in the definition of ``eligible credit derivative'' in Sec. 217.2, except for the criteria in paragraph (3) of the definition of ``eligible guarantee'' in Sec. 217.2. (2) The Board-regulated institution transfers credit risk associated with the underlying exposures to one or more third parties, and the terms and conditions in the credit risk mitigants employed do not include provisions that: (i) Allow for the termination of the credit protection due to deterioration in the credit quality of the underlying exposures; (ii) Require the Board-regulated institution to alter or replace the underlying exposures to improve the credit quality of the underlying exposures; (iii) Increase the Board-regulated institution's cost of credit protection in response to deterioration in the credit quality of the underlying exposures; (iv) Increase the yield payable to parties other than the Board- regulated institution in response to a deterioration in the credit quality of the underlying exposures; or (v) Provide for increases in a retained first loss position or credit enhancement provided by the Board-regulated institution after the inception of the securitization; (3) The Board-regulated institution obtains a well-reasoned opinion from [[Page 494]] legal counsel that confirms the enforceability of the credit risk mitigant in all relevant jurisdictions; and (4) Any clean-up calls relating to the securitization are eligible clean-up calls. (c) Due diligence requirements for securitization exposures. (1) Except for exposures that are deducted from common equity tier 1 capital and exposures subject to Sec. 217.42(h), if a Board-regulated institution is unable to demonstrate to the satisfaction of the Board a comprehensive understanding of the features of a securitization exposure that would materially affect the performance of the exposure, the Board- regulated institution must assign the securitization exposure a risk weight of 1,250 percent. The Board-regulated institution's analysis must be commensurate with the complexity of the securitization exposure and the materiality of the exposure in relation to its capital. (2) A Board-regulated institution must demonstrate its comprehensive understanding of a securitization exposure under paragraph (c)(1) of this section, for each securitization exposure by: (i) Conducting an analysis of the risk characteristics of a securitization exposure prior to acquiring the exposure, and documenting such analysis within three business days after acquiring the exposure, considering: (A) Structural features of the securitization that would materially impact the performance of the exposure, for example, the contractual cash flow waterfall, waterfall-related triggers, credit enhancements, liquidity enhancements, fair value triggers, the performance of organizations that service the exposure, and deal-specific definitions of default; (B) Relevant information regarding the performance of the underlying credit exposure(s), for example, the percentage of loans 30, 60, and 90 days past due; default rates; prepayment rates; loans in foreclosure; property types; occupancy; average credit score or other measures of creditworthiness; average LTV ratio; and industry and geographic diversification data on the underlying exposure(s); (C) Relevant market data of the securitization, for example, bid-ask spread, most recent sales price and historic price volatility, trading volume, implied market rating, and size, depth and concentration level of the market for the securitization; and (D) For resecuritization exposures, performance information on the underlying securitization exposures, for example, the issuer name and credit quality, and the characteristics and performance of the exposures underlying the securitization exposures; and (ii) On an on-going basis (no less frequently than quarterly), evaluating, reviewing, and updating as appropriate the analysis required under paragraph (c)(1) of this section for each securitization exposure. Sec. 217.42 Risk-weighted assets for securitization exposures. (a) Securitization risk weight approaches. Except as provided elsewhere in this section or in Sec. 217.41: (1) A Board-regulated institution must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from a securitization and apply a 1,250 percent risk weight to the portion of a CEIO that does not constitute after-tax gain-on-sale. (2) If a securitization exposure does not require deduction under paragraph (a)(1) of this section, a Board-regulated institution may assign a risk weight to the securitization exposure using the simplified supervisory formula approach (SSFA) in accordance with Sec. Sec. 217.43(a) through 217.43(d) and subject to the limitation under paragraph (e) of this section. Alternatively, a Board-regulated institution that is not subject to subpart F of this part may assign a risk weight to the securitization exposure using the gross-up approach in accordance with Sec. 217.43(e), provided, however, that such Board- regulated institution must apply either the SSFA or the gross-up approach consistently across all of its securitization exposures, except as provided in paragraphs (a)(1), (a)(3), and (a)(4) of this section. (3) If a securitization exposure does not require deduction under paragraph (a)(1) of this section and the Board-regulated institution cannot, or chooses not to apply the SSFA or the gross-up [[Page 495]] approach to the exposure, the Board-regulated institution must assign a risk weight to the exposure as described in Sec. 217.44. (4) If a securitization exposure is a derivative contract (other than protection provided by a Board-regulated institution in the form of a credit derivative) that has a first priority claim on the cash flows from the underlying exposures (notwithstanding amounts due under interest rate or currency derivative contracts, fees due, or other similar payments), a Board-regulated institution may choose to set the risk-weighted asset amount of the exposure equal to the amount of the exposure as determined in paragraph (c) of this section. (b) Total risk-weighted assets for securitization exposures. A Board-regulated institution's total risk-weighted assets for securitization exposures equals the sum of the risk-weighted asset amount for securitization exposures that the Board-regulated institution risk weights under Sec. Sec. 217.41(c), 217.42(a)(1), and 217.43, 217.44, or 217.45, and paragraphs (e) through (j) of this section, as applicable. (c) Exposure amount of a securitization exposure--(1) On-balance sheet securitization exposures. The exposure amount of an on-balance sheet securitization exposure (excluding an available-for-sale or held- to-maturity security where the Board-regulated institution has made an AOCI opt-out election under Sec. 217.22(b)(2), a repo-style transaction, eligible margin loan, OTC derivative contract, or cleared transaction) is equal to the carrying value of the exposure. (2) On-balance sheet securitization exposures held by a Board- regulated institution that has made an AOCI opt-out election. The exposure amount of an on-balance sheet securitization exposure that is an available-for-sale or held-to-maturity security held by a Board- regulated institution that has made an AOCI opt-out election under Sec. 217.22(b)(2) is the Board-regulated institution's carrying value (including net accrued but unpaid interest and fees), less any net unrealized gains on the exposure and plus any net unrealized losses on the exposure. (3) Off-balance sheet securitization exposures. (i) Except as provided in paragraph (j) of this section, the exposure amount of an off-balance sheet securitization exposure that is not a repo-style transaction, eligible margin loan, cleared transaction (other than a credit derivative), or an OTC derivative contract (other than a credit derivative) is the notional amount of the exposure. For an off-balance sheet securitization exposure to an ABCP program, such as an eligible ABCP liquidity facility, the notional amount may be reduced to the maximum potential amount that the Board-regulated institution could be required to fund given the ABCP program's current underlying assets (calculated without regard to the current credit quality of those assets). (ii) A Board-regulated institution must determine the exposure amount of an eligible ABCP liquidity facility for which the SSFA does not apply by multiplying the notional amount of the exposure by a CCF of 50 percent. (iii) A Board-regulated institution must determine the exposure amount of an eligible ABCP liquidity facility for which the SSFA applies by multiplying the notional amount of the exposure by a CCF of 100 percent. (4) Repo-style transactions, eligible margin loans, and derivative contracts. The exposure amount of a securitization exposure that is a repo-style transaction, eligible margin loan, or derivative contract (other than a credit derivative) is the exposure amount of the transaction as calculated under Sec. 217.34 or Sec. 217.37, as applicable. (d) Overlapping exposures. If a Board-regulated institution has multiple securitization exposures that provide duplicative coverage to the underlying exposures of a securitization (such as when a Board- regulated institution provides a program-wide credit enhancement and multiple pool-specific liquidity facilities to an ABCP program), the Board-regulated institution is not required to hold duplicative risk- based capital against the overlapping position. Instead, the Board- regulated institution may apply to the overlapping position the applicable risk-based capital treatment that results in the highest risk-based capital requirement. [[Page 496]] (e) Implicit support. If a Board-regulated institution provides support to a securitization in excess of the Board-regulated institution's contractual obligation to provide credit support to the securitization (implicit support): (1) The Board-regulated institution must include in risk-weighted assets all of the underlying exposures associated with the securitization as if the exposures had not been securitized and must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from the securitization; and (2) The Board-regulated institution must disclose publicly: (i) That it has provided implicit support to the securitization; and (ii) The risk-based capital impact to the Board-regulated institution of providing such implicit support. (f) Undrawn portion of a servicer cash advance facility. (1) Notwithstanding any other provision of this subpart, a Board-regulated institution that is a servicer under an eligible servicer cash advance facility is not required to hold risk-based capital against potential future cash advance payments that it may be required to provide under the contract governing the facility. (2) For a Board-regulated institution that acts as a servicer, the exposure amount for a servicer cash advance facility that is not an eligible servicer cash advance facility is equal to the amount of all potential future cash advance payments that the Board-regulated institution may be contractually required to provide during the subsequent 12 month period under the contract governing the facility. (g) Interest-only mortgage-backed securities. Regardless of any other provisions in this subpart, the risk weight for a non-credit- enhancing interest-only mortgage-backed security may not be less than 100 percent. (h) Small-business loans and leases on personal property transferred with retained contractual exposure. (1) Regardless of any other provision of this subpart, a Board-regulated institution that has transferred small-business loans and leases on personal property (small- business obligations) with recourse must include in risk-weighted assets only its contractual exposure to the small-business obligations if all the following conditions are met: (i) The transaction must be treated as a sale under GAAP. (ii) The Board-regulated institution establishes and maintains, pursuant to GAAP, a non-capital reserve sufficient to meet the Board- regulated institution's reasonably estimated liability under the contractual obligation. (iii) The small-business obligations are to businesses that meet the criteria for a small-business concern established by the Small Business Administration under section 3(a) of the Small Business Act (15 U.S.C. 632 et seq.). (iv)(A) In the case of a state member bank, the bank is well capitalized, as defined in 12 CFR 208.43. For purposes of determining whether a state member bank is well capitalized for purposes of this paragraph (h), the state member bank's capital ratios must be calculated without regard to the capital treatment for transfers of small-business obligations under this paragraph (h). (B) In the case of a bank holding company or savings and loan holding company, the bank holding company or savings and loan holding company is well capitalized, as defined in 12 CFR 225.2. For purposes of determining whether a bank holding company or savings and loan holding company is well capitalized for purposes of this paragraph (h), the bank holding company or savings and loan holding company's capital ratios must be calculated without regard to the capital treatment for transfers of small-business obligations with recourse specified in paragraph (k)(1) of this section. (2) The total outstanding amount of contractual exposure retained by a Board-regulated institution on transfers of small-business obligations receiving the capital treatment specified in paragraph (h)(1) of this section cannot exceed 15 percent of the Board-regulated institution's total capital. (3) If a Board-regulated institution ceases to be well capitalized under 12 CFR 208.43 or exceeds the 15 percent capital limitation provided in paragraph (h)(2) of this section, the capital treatment under paragraph (h)(1) of this section will continue to apply to [[Page 497]] any transfers of small-business obligations with retained contractual exposure that occurred during the time that the Board-regulated institution was well capitalized and did not exceed the capital limit. (4) The risk-based capital ratios of the Board-regulated institution must be calculated without regard to the capital treatment for transfers of small-business obligations specified in paragraph (h)(1) of this section for purposes of: (i) Determining whether a Board-regulated institution is adequately capitalized, undercapitalized, significantly undercapitalized, or critically undercapitalized under the Board's prompt corrective action regulations; and (ii) Reclassifying a well-capitalized Board-regulated institution to adequately capitalized and requiring an adequately capitalized Board- regulated institution to comply with certain mandatory or discretionary supervisory actions as if the Board-regulated institution were in the next lower prompt-corrective-action category. (i) Nth-to-default credit derivatives--(1) Protection provider. A Board-regulated institution may assign a risk weight using the SSFA in Sec. 217.43 to an n\th\-to-default credit derivative in accordance with this paragraph (i). A Board-regulated institution must determine its exposure in the n\th\-to-default credit derivative as the largest notional amount of all the underlying exposures. (2) For purposes of determining the risk weight for an n\th\-to- default credit derivative using the SSFA, the Board-regulated institution must calculate the attachment point and detachment point of its exposure as follows: (i) The attachment point (parameter A) is the ratio of the sum of the notional amounts of all underlying exposures that are subordinated to the Board-regulated institution's exposure to the total notional amount of all underlying exposures. The ratio is expressed as a decimal value between zero and one. In the case of a first-to-default credit derivative, there are no underlying exposures that are subordinated to the Board-regulated institution's exposure. In the case of a second-or- subsequent-to-default credit derivative, the smallest (n-1) notional amounts of the underlying exposure(s) are subordinated to the Board- regulated institution's exposure. (ii) The detachment point (parameter D) equals the sum of parameter A plus the ratio of the notional amount of the Board-regulated institution's exposure in the n\th\-to-default credit derivative to the total notional amount of all underlying exposures. The ratio is expressed as a decimal value between zero and one. (3) A Board-regulated institution that does not use the SSFA to determine a risk weight for its n\th\-to-default credit derivative must assign a risk weight of 1,250 percent to the exposure. (4) Protection purchaser--(i) First-to-default credit derivatives. A Board-regulated institution that obtains credit protection on a group of underlying exposures through a first-to-default credit derivative that meets the rules of recognition of Sec. 217.36(b) must determine its risk-based capital requirement for the underlying exposures as if the Board-regulated institution synthetically securitized the underlying exposure with the smallest risk-weighted asset amount and had obtained no credit risk mitigant on the other underlying exposures. A Board- regulated institution must calculate a risk-based capital requirement for counterparty credit risk according to Sec. 217.34 for a first-to- default credit derivative that does not meet the rules of recognition of Sec. 217.36(b). (ii) Second-or-subsequent-to-default credit derivatives. (A) A Board-regulated institution that obtains credit protection on a group of underlying exposures through a n\th\-to-default credit derivative that meets the rules of recognition of Sec. 217.36(b) (other than a first- to-default credit derivative) may recognize the credit risk mitigation benefits of the derivative only if: (1) The Board-regulated institution also has obtained credit protection on the same underlying exposures in the form of first- through-(n-1)-to-default credit derivatives; or (2) If n-1 of the underlying exposures have already defaulted. (B) If a Board-regulated institution satisfies the requirements of paragraph [[Page 498]] (i)(4)(ii)(A) of this section, the Board-regulated institution must determine its risk-based capital requirement for the underlying exposures as if the Board-regulated institution had only synthetically securitized the underlying exposure with the n\th\ smallest risk- weighted asset amount and had obtained no credit risk mitigant on the other underlying exposures. (C) A Board-regulated institution must calculate a risk-based capital requirement for counterparty credit risk according to Sec. 217.34 for a n\th\-to-default credit derivative that does not meet the rules of recognition of Sec. 217.36(b). (j) Guarantees and credit derivatives other than nth-to-default credit derivatives--(1) Protection provider. For a guarantee or credit derivative (other than an n\th\-to-default credit derivative) provided by a Board-regulated institution that covers the full amount or a pro rata share of a securitization exposure's principal and interest, the Board-regulated institution must risk weight the guarantee or credit derivative as if it holds the portion of the reference exposure covered by the guarantee or credit derivative. (2) Protection purchaser. (i) A Board-regulated institution that purchases a guarantee or OTC credit derivative (other than an n\th\-to- default credit derivative) that is recognized under Sec. 217.45 as a credit risk mitigant (including via collateral recognized under Sec. 217.37) is not required to compute a separate counterparty credit risk capital requirement under Sec. 217.31, in accordance with 34(c). (ii) If a Board-regulated institution cannot, or chooses not to, recognize a purchased credit derivative as a credit risk mitigant under Sec. 217.45, the Board-regulated institution must determine the exposure amount of the credit derivative under Sec. 217.34. (A) If the Board-regulated institution purchases credit protection from a counterparty that is not a securitization SPE, the Board- regulated institution must determine the risk weight for the exposure according to this subpart D. (B) If the Board-regulated institution purchases the credit protection from a counterparty that is a securitization SPE, the Board- regulated institution must determine the risk weight for the exposure according to section Sec. 217.42, including Sec. 217.42(a)(4) for a credit derivative that has a first priority claim on the cash flows from the underlying exposures of the securitization SPE (notwithstanding amounts due under interest rate or currency derivative contracts, fees due, or other similar payments). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62288, Oct. 11, 2013; 84 FR 35266, July 22, 2019] Sec. 217.43 Simplified supervisory formula approach (SSFA) and the gross-up approach. (a) General requirements for the SSFA. To use the SSFA to determine the risk weight for a securitization exposure, a Board-regulated institution must have data that enables it to assign accurately the parameters described in paragraph (b) of this section. Data used to assign the parameters described in paragraph (b) of this section must be the most currently available data; if the contracts governing the underlying exposures of the securitization require payments on a monthly or quarterly basis, the data used to assign the parameters described in paragraph (b) of this section must be no more than 91 calendar days old. A Board-regulated institution that does not have the appropriate data to assign the parameters described in paragraph (b) of this section must assign a risk weight of 1,250 percent to the exposure. (b) SSFA parameters. To calculate the risk weight for a securitization exposure using the SSFA, a Board-regulated institution must have accurate information on the following five inputs to the SSFA calculation: (1) KG is the weighted-average (with unpaid principal used as the weight for each exposure) total capital requirement of the underlying exposures calculated using this subpart. KG is expressed as a decimal value between zero and one (that is, an average risk weight of 100 percent represents a value of KG equal to 0.08). (2) Parameter W is expressed as a decimal value between zero and one. Parameter W is the ratio of the sum of the dollar amounts of any underlying exposures of the securitization that [[Page 499]] meet any of the criteria as set forth in paragraphs (b)(2)(i) through (vi) of this section to the balance, measured in dollars, of underlying exposures: (i) Ninety days or more past due; (ii) Subject to a bankruptcy or insolvency proceeding; (iii) In the process of foreclosure; (iv) Held as real estate owned; (v) Has contractually deferred payments for 90 days or more, other than principal or interest payments deferred on: (A) Federally-guaranteed student loans, in accordance with the terms of those guarantee programs; or (B) Consumer loans, including non-federally-guaranteed student loans, provided that such payments are deferred pursuant to provisions included in the contract at the time funds are disbursed that provide for period(s) of deferral that are not initiated based on changes in the creditworthiness of the borrower; or (vi) Is in default. (3) Parameter A is the attachment point for the exposure, which represents the threshold at which credit losses will first be allocated to the exposure. Except as provided in Sec. 217.42(i) for n\th\-to- default credit derivatives, parameter A equals the ratio of the current dollar amount of underlying exposures that are subordinated to the exposure of the Board-regulated institution to the current dollar amount of underlying exposures. Any reserve account funded by the accumulated cash flows from the underlying exposures that is subordinated to the Board-regulated institution's securitization exposure may be included in the calculation of parameter A to the extent that cash is present in the account. Parameter A is expressed as a decimal value between zero and one. (4) Parameter D is the detachment point for the exposure, which represents the threshold at which credit losses of principal allocated to the exposure would result in a total loss of principal. Except as provided in section 42(i) for n\th\-to-default credit derivatives, parameter D equals parameter A plus the ratio of the current dollar amount of the securitization exposures that are pari passu with the exposure (that is, have equal seniority with respect to credit risk) to the current dollar amount of the underlying exposures. Parameter D is expressed as a decimal value between zero and one. (5) A supervisory calibration parameter, p, is equal to 0.5 for securitization exposures that are not resecuritization exposures and equal to 1.5 for resecuritization exposures. (c) Mechanics of the SSFA. KG and W are used to calculate KA, the augmented value of KG, which reflects the observed credit quality of the underlying exposures. KA is defined in paragraph (d) of this section. The values of parameters A and D, relative to KA determine the risk weight assigned to a securitization exposure as described in paragraph (d) of this section. The risk weight assigned to a securitization exposure, or portion of a securitization exposure, as appropriate, is the larger of the risk weight determined in accordance with this paragraph (c) or paragraph (d) of this section and a risk weight of 20 percent. (1) When the detachment point, parameter D, for a securitization exposure is less than or equal to KA, the exposure must be assigned a risk weight of 1,250 percent. (2) When the attachment point, parameter A, for a securitization exposure is greater than or equal to KA, the Board-regulated institution must calculate the risk weight in accordance with paragraph (d) of this section. (3) When A is less than KA and D is greater than KA, the risk weight is a weighted-average of 1,250 percent and 1,250 percent times KSSFA calculated in accordance with paragraph (d) of this section. For the purpose of this weighted-average calculation: [[Page 500]] [GRAPHIC] [TIFF OMITTED] TR11OC13.024 (e) Gross-up approach--(1) Applicability. A Board-regulated institution that is not subject to subpart F of this part may apply the gross-up approach set forth in this section instead of the SSFA to determine the risk weight of its securitization exposures, provided that it applies the gross-up approach to all of its securitization exposures, except as otherwise provided for certain securitization exposures in Sec. Sec. 217.44 and 217.45. (2) To use the gross-up approach, a Board-regulated institution must calculate the following four inputs: (i) Pro rata share, which is the par value of the Board-regulated institution's securitization exposure as a percent of the par value of the tranche in [[Page 501]] which the securitization exposure resides; (ii) Enhanced amount, which is the par value of tranches that are more senior to the tranche in which the Board-regulated institution's securitization resides; (iii) Exposure amount of the Board-regulated institution's securitization exposure calculated under Sec. 217.42(c); and (iv) Risk weight, which is the weighted-average risk weight of underlying exposures of the securitization as calculated under this subpart. (3) Credit equivalent amount. The credit equivalent amount of a securitization exposure under this section equals the sum of: (i) The exposure amount of the Board-regulated institution's securitization exposure; and (ii) The pro rata share multiplied by the enhanced amount, each calculated in accordance with paragraph (e)(2) of this section. (4) Risk-weighted assets. To calculate risk-weighted assets for a securitization exposure under the gross-up approach, a Board-regulated institution must apply the risk weight required under paragraph (e)(2) of this section to the credit equivalent amount calculated in paragraph (e)(3) of this section. (f) Limitations. Notwithstanding any other provision of this section, a Board-regulated institution must assign a risk weight of not less than 20 percent to a securitization exposure. Sec. 217.44 Securitization exposures to which the SSFA and gross-up approach do not apply. (a) General requirement. A Board-regulated institution must assign a 1,250 percent risk weight to all securitization exposures to which the Board-regulated institution does not apply the SSFA or the gross-up approach under Sec. 217.43, except as set forth in this section. (b) Eligible ABCP liquidity facilities. A Board-regulated institution may determine the risk-weighted asset amount of an eligible ABCP liquidity facility by multiplying the exposure amount by the highest risk weight applicable to any of the individual underlying exposures covered by the facility. (c) A securitization exposure in a second loss position or better to an ABCP program--(1) Risk weighting. A Board-regulated institution may determine the risk-weighted asset amount of a securitization exposure that is in a second loss position or better to an ABCP program that meets the requirements of paragraph (c)(2) of this section by multiplying the exposure amount by the higher of the following risk weights: (i) 100 percent; and (ii) The highest risk weight applicable to any of the individual underlying exposures of the ABCP program. (2) Requirements. (i) The exposure is not an eligible ABCP liquidity facility; (ii) The exposure must be economically in a second loss position or better, and the first loss position must provide significant credit protection to the second loss position; (iii) The exposure qualifies as investment grade; and (iv) The Board-regulated institution holding the exposure must not retain or provide protection to the first loss position. Sec. 217.45 Recognition of credit risk mitigants for securitization exposures. (a) General. (1) An originating Board-regulated institution that has obtained a credit risk mitigant to hedge its exposure to a synthetic or traditional securitization that satisfies the operational criteria provided in Sec. 217.41 may recognize the credit risk mitigant under Sec. Sec. 217.36 or 217.37, but only as provided in this section. (2) An investing Board-regulated institution that has obtained a credit risk mitigant to hedge a securitization exposure may recognize the credit risk mitigant under Sec. Sec. 217.36 or 217.37, but only as provided in this section. (b) Mismatches. A Board-regulated institution must make any applicable adjustment to the protection amount of an eligible guarantee or credit derivative as required in Sec. 217.36(d), (e), and (f) for any hedged securitization exposure. In the context of a synthetic [[Page 502]] securitization, when an eligible guarantee or eligible credit derivative covers multiple hedged exposures that have different residual maturities, the Board-regulated institution must use the longest residual maturity of any of the hedged exposures as the residual maturity of all hedged exposures. Sec. Sec. 217.46-217.50 [Reserved] Risk-Weighted Assets for Equity Exposures Sec. 217.51 Introduction and exposure measurement. (a) General. (1) To calculate its risk-weighted asset amounts for equity exposures that are not equity exposures to an investment fund, a Board-regulated institution must use the Simple Risk-Weight Approach (SRWA) provided in 217.52. A Board-regulated institution must use the look-through approaches provided in Sec. 217.53 to calculate its risk- weighted asset amounts for equity exposures to investment funds. (2) A Board-regulated institution must treat an investment in a separate account (as defined in Sec. 217.2) as if it were an equity exposure to an investment fund as provided in Sec. 217.53. (3) Stable value protection. (i) Stable value protection means a contract where the provider of the contract is obligated to pay: (A) The policy owner of a separate account an amount equal to the shortfall between the fair value and cost basis of the separate account when the policy owner of the separate account surrenders the policy; or (B) The beneficiary of the contract an amount equal to the shortfall between the fair value and book value of a specified portfolio of assets. (ii) A Board-regulated institution that purchases stable value protection on its investment in a separate account must treat the portion of the carrying value of its investment in the separate account attributable to the stable value protection as an exposure to the provider of the protection and the remaining portion of the carrying value of its separate account as an equity exposure to an investment fund. (iii) A Board-regulated institution that provides stable value protection must treat the exposure as an equity derivative with an adjusted carrying value determined as the sum of paragraphs (b)(1) and (3) of this section. (b) Adjusted carrying value. For purposes of Sec. Sec. 217.51 through 217.53, the adjusted carrying value of an equity exposure is: (1) For the on-balance sheet component of an equity exposure (other than an equity exposure that is classified as available-for-sale where the Board-regulated institution has made an AOCI opt-out election under Sec. 217.22(b)(2)), the Board-regulated institution's carrying value of the exposure; (2) For the on-balance sheet component of an equity exposure that is classified as available-for-sale where the Board-regulated institution has made an AOCI opt-out election under Sec. 217.22(b)(2), the Board- regulated institution's carrying value of the exposure less any net unrealized gains on the exposure that are reflected in such carrying value but excluded from the Board-regulated institution's regulatory capital components; (3) For the off-balance sheet component of an equity exposure that is not an equity commitment, the effective notional principal amount of the exposure, the size of which is equivalent to a hypothetical on- balance sheet position in the underlying equity instrument that would evidence the same change in fair value (measured in dollars) given a small change in the price of the underlying equity instrument, minus the adjusted carrying value of the on-balance sheet component of the exposure as calculated in paragraph (b)(1) of this section; and (4) For a commitment to acquire an equity exposure (an equity commitment), the effective notional principal amount of the exposure is multiplied by the following conversion factors (CFs): (i) Conditional equity commitments with an original maturity of one year or less receive a CF of 20 percent. (ii) Conditional equity commitments with an original maturity of over one year receive a CF of 50 percent. (iii) Unconditional equity commitments receive a CF of 100 percent. [[Page 503]] Sec. 217.52 Simple risk-weight approach (SRWA). (a) General. Under the SRWA, a Board-regulated institution's total risk-weighted assets for equity exposures equals the sum of the risk- weighted asset amounts for each of the Board-regulated institution's individual equity exposures (other than equity exposures to an investment fund) as determined under this section and the risk-weighted asset amounts for each of the Board-regulated institution's individual equity exposures to an investment fund as determined under Sec. 217.53. (b) SRWA computation for individual equity exposures. A Board- regulated institution must determine the risk-weighted asset amount for an individual equity exposure (other than an equity exposure to an investment fund) by multiplying the adjusted carrying value of the equity exposure or the effective portion and ineffective portion of a hedge pair (as defined in paragraph (c) of this section) by the lowest applicable risk weight in this paragraph (b). (1) Zero percent risk weight equity exposures. An equity exposure to a sovereign, the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, an MDB, and any other entity whose credit exposures receive a zero percent risk weight under Sec. 217.32 may be assigned a zero percent risk weight. (2) 20 percent risk weight equity exposures. An equity exposure to a PSE, Federal Home Loan Bank or the Federal Agricultural Mortgage Corporation (Farmer Mac) must be assigned a 20 percent risk weight. (3) 100 percent risk weight equity exposures. The equity exposures set forth in this paragraph (b)(3) must be assigned a 100 percent risk weight. (i) Community development equity exposures. (A) For state member banks and bank holding companies, an equity exposure that qualifies as a community development investment under 12 U.S.C. 24 (Eleventh), excluding equity exposures to an unconsolidated small business investment company and equity exposures held through a consolidated small business investment company described in section 302 of the Small Business Investment Act of 1958 (15 U.S.C. 682). (B) For savings and loan holding companies, an equity exposure that is designed primarily to promote community welfare, including the welfare of low- and moderate-income communities or families, such as by providing services or employment, and excluding equity exposures to an unconsolidated small business investment company and equity exposures held through a small business investment company described in section 302 of the Small Business Investment Act of 1958 (15 U.S.C. 682). (ii) Effective portion of hedge pairs. The effective portion of a hedge pair. (iii) Non-significant equity exposures. Equity exposures, excluding significant investments in the capital of an unconsolidated financial institution in the form of common stock and exposures to an investment firm that would meet the definition of a traditional securitization were it not for the application of paragraph (8) of that definition in Sec. 217.2 and has greater than immaterial leverage, to the extent that the aggregate adjusted carrying value of the exposures does not exceed 10 percent of the Board-regulated institution's total capital. (A) To compute the aggregate adjusted carrying value of a Board- regulated institution's equity exposures for purposes of this section, the Board-regulated institution may exclude equity exposures described in paragraphs (b)(1), (b)(2), (b)(3)(i), and (b)(3)(ii) of this section, the equity exposure in a hedge pair with the smaller adjusted carrying value, and a proportion of each equity exposure to an investment fund equal to the proportion of the assets of the investment fund that are not equity exposures or that meet the criterion of paragraph (b)(3)(i) of this section. If a Board-regulated institution does not know the actual holdings of the investment fund, the Board-regulated institution may calculate the proportion of the assets of the fund that are not equity exposures based on the terms of the prospectus, partnership agreement, or similar contract [[Page 504]] that defines the fund's permissible investments. If the sum of the investment limits for all exposure classes within the fund exceeds 100 percent, the Board-regulated institution must assume for purposes of this section that the investment fund invests to the maximum extent possible in equity exposures. (B) When determining which of a Board-regulated institution's equity exposures qualify for a 100 percent risk weight under this paragraph (b), a Board-regulated institution first must include equity exposures to unconsolidated small business investment companies or held through consolidated small business investment companies described in section 302 of the Small Business Investment Act, then must include publicly traded equity exposures (including those held indirectly through investment funds), and then must include non-publicly traded equity exposures (including those held indirectly through investment funds). (4) 250 percent risk weight equity exposures. Significant investments in the capital of unconsolidated financial institutions in the form of common stock that are not deducted from capital pursuant to Sec. 217.22(d)(2) are assigned a 250 percent risk weight. (5) 300 percent risk weight equity exposures. A publicly traded equity exposure (other than an equity exposure described in paragraph (b)(7) of this section and including the ineffective portion of a hedge pair) must be assigned a 300 percent risk weight. (6) 400 percent risk weight equity exposures. An equity exposure (other than an equity exposure described in paragraph (b)(7)) of this section that is not publicly traded must be assigned a 400 percent risk weight. (7) 600 percent risk weight equity exposures. An equity exposure to an investment firm must be assigned a 600 percent risk weight, provided that the investment firm: (i) Would meet the definition of a traditional securitization were it not for the application of paragraph (8) of that definition; and (ii) Has greater than immaterial leverage. (c) Hedge transactions--(1) Hedge pair. A hedge pair is two equity exposures that form an effective hedge so long as each equity exposure is publicly traded or has a return that is primarily based on a publicly traded equity exposure. (2) Effective hedge. Two equity exposures form an effective hedge if the exposures either have the same remaining maturity or each has a remaining maturity of at least three months; the hedge relationship is formally documented in a prospective manner (that is, before the Board- regulated institution acquires at least one of the equity exposures); the documentation specifies the measure of effectiveness (E) the Board- regulated institution will use for the hedge relationship throughout the life of the transaction; and the hedge relationship has an E greater than or equal to 0.8. A Board-regulated institution must measure E at least quarterly and must use one of three alternative measures of E as set forth in this paragraph (c). (i) Under the dollar-offset method of measuring effectiveness, the Board-regulated institution must determine the ratio of value change (RVC). The RVC is the ratio of the cumulative sum of the changes in value of one equity exposure to the cumulative sum of the changes in the value of the other equity exposure. If RVC is positive, the hedge is not effective and E equals 0. If RVC is negative and greater than or equal to -1 (that is, between zero and -1), then E equals the absolute value of RVC. If RVC is negative and less than -1, then E equals 2 plus RVC. (ii) Under the variability-reduction method of measuring effectiveness: [[Page 505]] [GRAPHIC] [TIFF OMITTED] TR11OC13.027 (iii) Under the regression method of measuring effectiveness, E equals the coefficient of determination of a regression in which the change in value of one exposure in a hedge pair is the dependent variable and the change in value of the other exposure in a hedge pair is the independent variable. However, if the estimated regression coefficient is positive, then E equals zero. (3) The effective portion of a hedge pair is E multiplied by the greater of the adjusted carrying values of the equity exposures forming a hedge pair. (4) The ineffective portion of a hedge pair is (1-E) multiplied by the greater of the adjusted carrying values of the equity exposures forming a hedge pair. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62288, Oct. 11, 2013; 84 FR 35266, July 22, 2019] Sec. 217.53 Equity exposures to investment funds. (a) Available approaches. (1) Unless the exposure meets the requirements for a community development equity exposure under Sec. 217.52(b)(3)(i), a Board-regulated institution must determine the risk- weighted asset amount of an equity exposure to an investment fund under the full look-through approach described in paragraph (b) of this section, the simple modified look-through approach described in paragraph (c) of this section, or the alterative modified look-through approach described paragraph (d) of this section, provided, however, that the minimum risk weight that may be assigned to an equity exposure under this section is 20 percent. (2) The risk-weighted asset amount of an equity exposure to an investment fund that meets the requirements for a community development equity exposure in Sec. 217.52(b)(3)(i) is its adjusted carrying value. (3) If an equity exposure to an investment fund is part of a hedge pair and the Board-regulated institution does not use the full look- through approach, the Board-regulated institution must use the ineffective portion of the hedge pair as determined under Sec. 217.52(c) as the adjusted carrying value for the equity exposure to the investment fund. The risk-weighted asset amount of the effective portion of the hedge pair is equal to its adjusted carrying value. (b) Full look-through approach. A Board-regulated institution that is able to calculate a risk-weighted asset amount for its proportional ownership share of each exposure held by the investment fund (as calculated under this subpart as if the proportional ownership share of the adjusted carrying value of each exposure were held directly by the Board-regulated institution) may set the risk-weighted asset amount of the Board-regulated institution's exposure to the fund equal to the product of: (1) The aggregate risk-weighted asset amounts of the exposures held by the fund as if they were held directly by the Board-regulated institution; and [[Page 506]] (2) The Board-regulated institution's proportional ownership share of the fund. (c) Simple modified look-through approach. Under the simple modified look-through approach, the risk-weighted asset amount for a Board- regulated institution's equity exposure to an investment fund equals the adjusted carrying value of the equity exposure multiplied by the highest risk weight that applies to any exposure the fund is permitted to hold under the prospectus, partnership agreement, or similar agreement that defines the fund's permissible investments (excluding derivative contracts that are used for hedging rather than speculative purposes and that do not constitute a material portion of the fund's exposures). (d) Alternative modified look-through approach. Under the alternative modified look-through approach, a Board-regulated institution may assign the adjusted carrying value of an equity exposure to an investment fund on a pro rata basis to different risk weight categories under this subpart based on the investment limits in the fund's prospectus, partnership agreement, or similar contract that defines the fund's permissible investments. The risk-weighted asset amount for the Board-regulated institution's equity exposure to the investment fund equals the sum of each portion of the adjusted carrying value assigned to an exposure type multiplied by the applicable risk weight under this subpart. If the sum of the investment limits for all exposure types within the fund exceeds 100 percent, the Board-regulated institution must assume that the fund invests to the maximum extent permitted under its investment limits in the exposure type with the highest applicable risk weight under this subpart and continues to make investments in order of the exposure type with the next highest applicable risk weight under this subpart until the maximum total investment level is reached. If more than one exposure type applies to an exposure, the Board-regulated institution must use the highest applicable risk weight. A Board-regulated institution may exclude derivative contracts held by the fund that are used for hedging rather than for speculative purposes and do not constitute a material portion of the fund's exposures. Sec. Sec. 217.54-217.60 [Reserved] Disclosures Sec. 217.61 Purpose and scope. Sections 217.61 through 217.63 of this subpart establish public disclosure requirements related to the capital requirements described in subpart B of this part for a Board-regulated institution with total consolidated assets of $50 billion or more as reported on the Board- regulated institution's most recent year-end Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable that is not an advanced approaches Board- regulated institution making public disclosures pursuant to Sec. 217.172. An advanced approaches Board-regulated institution that has not received approval from the Board to exit parallel run pursuant to Sec. 217.121(d) is subject to the disclosure requirements described in Sec. Sec. 217.62 and 217.63. A Board-regulated institution with total consolidated assets of $50 billion or more as reported on the Board- regulated institution's most recent year-end Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable, that is not an advanced approaches Board-regulated institution making public disclosures subject to Sec. 217.172 must comply with Sec. 217.62 unless it is a consolidated subsidiary of a bank holding company, savings and loan holding company, or depository institution that is subject to the disclosure requirements of Sec. 217.62 or a subsidiary of a non-U.S. banking organization that is subject to comparable public disclosure requirements in its home jurisdiction. For purposes of this section, total consolidated assets are determined based on the average of the Board-regulated institution's total consolidated assets in the four most recent quarters as reported on the Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable; or the average of the Board-regulated institution's total [[Page 507]] consolidated assets in the most recent consecutive quarters as reported quarterly on the Board-regulated institution's Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable if the Board-regulated institution has not filed such a report for each of the most recent four quarters. [Reg. Q, 84 FR 35266, July 22, 2019] Sec. 217.62 Disclosure requirements. (a) A Board-regulated institution described in Sec. 217.61 must provide timely public disclosures each calendar quarter of the information in the applicable tables in Sec. 217.63. If a significant change occurs, such that the most recent reported amounts are no longer reflective of the Board-regulated institution's capital adequacy and risk profile, then a brief discussion of this change and its likely impact must be disclosed as soon as practicable thereafter. Qualitative disclosures that typically do not change each quarter (for example, a general summary of the Board-regulated institution's risk management objectives and policies, reporting system, and definitions) may be disclosed annually after the end of the fourth calendar quarter, provided that any significant changes are disclosed in the interim. The Board-regulated institution's management may provide all of the disclosures required by Sec. Sec. 217.61 through 217.63 in one place on the Board-regulated institution's public Web site or may provide the disclosures in more than one public financial report or other regulatory reports, provided that the Board-regulated institution publicly provides a summary table specifically indicating the location(s) of all such disclosures. (b) A Board-regulated institution described in Sec. 217.61 must have a formal disclosure policy approved by the board of directors that addresses its approach for determining the disclosures it makes. The policy must address the associated internal controls and disclosure controls and procedures. The board of directors and senior management are responsible for establishing and maintaining an effective internal control structure over financial reporting, including the disclosures required by this subpart, and must ensure that appropriate review of the disclosures takes place. One or more senior officers of the Board- regulated institution must attest that the disclosures meet the requirements of this subpart. (c) If a Board-regulated institution described in Sec. 217.61 concludes that specific commercial or financial information that it would otherwise be required to disclose under this section would be exempt from disclosure by the Board under the Freedom of Information Act (5 U.S.C. 552), then the Board-regulated institution is not required to disclose that specific information pursuant to this section, but must disclose more general information about the subject matter of the requirement, together with the fact that, and the reason why, the specific items of information have not been disclosed. Sec. 217.63 Disclosures by Board-regulated institutions described in Sec. 217.61. (a) Except as provided in Sec. 217.62, a Board-regulated institution described in Sec. 217.61 must make the disclosures described in Tables 1 through 10 of this section. The Board-regulated institution must make these disclosures publicly available for each of the last three years (that is, twelve quarters) or such shorter period beginning on January 1, 2015. (b) A Board-regulated institution must publicly disclose each quarter the following: (1) Common equity tier 1 capital, additional tier 1 capital, tier 2 capital, tier 1 and total capital ratios, including the regulatory capital elements and all the regulatory adjustments and deductions needed to calculate the numerator of such ratios; (2) Total risk-weighted assets, including the different regulatory adjustments and deductions needed to calculate total risk-weighted assets; (3) Regulatory capital ratios during any transition periods, including a description of all the regulatory capital elements and all regulatory adjustments and deductions needed to calculate the numerator and denominator of each capital ratio during any transition period; and [[Page 508]] (4) A reconciliation of regulatory capital elements as they relate to its balance sheet in any audited consolidated financial statements. Table 1 to Sec. 217.63--Scope of Application ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The name of the top corporate entity in the group to which subpart D of this part applies. (b)........................ A brief description of the differences in the basis for consolidating entities \1\ for accounting and regulatory purposes, with a description of those entities: (1) That are fully consolidated; (2) That are deconsolidated and deducted from total capital; (3) For which the total capital requirement is deducted; and (4) That are neither consolidated nor deducted (for example, where the investment in the entity is assigned a risk weight in accordance with this subpart). (c)........................ Any restrictions, or other major impediments, on transfer of funds or total capital within the group. (d)........................ The aggregate amount of surplus capital of insurance subsidiaries included in the total capital of the consolidated group. (e)........................ The aggregate amount by which actual total capital is less than the minimum total capital requirement in all subsidiaries, with total capital requirements and the name(s) of the subsidiaries with such deficiencies. ---------------------------------------------------------------------------------------------------------------- \1\ Entities include securities, insurance and other financial subsidiaries, commercial subsidiaries (where permitted), and significant minority equity investments in insurance, financial and commercial entities. Table 2 to Sec. 217.63--Capital Structure ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ Summary information on the terms and conditions of the main features of all regulatory capital instruments. Quantitative Disclosures................ (b)........................ The amount of common equity tier 1 capital, with separate disclosure of: (1) Common stock and related surplus; (2) Retained earnings; (3) Common equity minority interest; (4) AOCI; and (5) Regulatory adjustments and deductions made to common equity tier 1 capital. (c)........................ The amount of tier 1 capital, with separate disclosure of: (1) Additional tier 1 capital elements, including additional tier 1 capital instruments and tier 1 minority interest not included in common equity tier 1 capital; and (2) Regulatory adjustments and deductions made to tier 1 capital. (d)........................ The amount of total capital, with separate disclosure of: (1) Tier 2 capital elements, including tier 2 capital instruments and total capital minority interest not included in tier 1 capital; and (2) Regulatory adjustments and deductions made to total capital. ---------------------------------------------------------------------------------------------------------------- Table 3 to Sec. 217.63--Capital Adequacy ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ A summary discussion of the Board- regulated institution's approach to assessing the adequacy of its capital to support current and future activities. Quantitative disclosures................ (b)........................ Risk-weighted assets for: (1) Exposures to sovereign entities; (2) Exposures to certain supranational entities and MDBs; (3) Exposures to depository institutions, foreign banks, and credit unions; (4) Exposures to PSEs; (5) Corporate exposures; (6) Residential mortgage exposures; (7) Statutory multifamily mortgages and pre-sold construction loans; (8) HVCRE exposures; (9) Past due loans; (10) Other assets; (11) Cleared transactions; (12) Default fund contributions; (13) Unsettled transactions; (14) Securitization exposures; and (15) Equity exposures. (c)........................ Standardized market risk-weighted assets as calculated under subpart F of this part. (d)........................ Common equity tier 1, tier 1 and total risk-based capital ratios: (1) For the top consolidated group; and (2) For each depository institution subsidiary. (e)........................ Total standardized risk-weighted assets. ---------------------------------------------------------------------------------------------------------------- Table 4 to Sec. 217.63--Capital Conservation Buffer ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Quantitative Disclosures................ (a)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose the capital conservation buffer as described under Sec. 217.11. [[Page 509]] (b)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose the eligible retained income of the Board-regulated institution, as described under Sec. 217.11. (c)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose any limitations it has on distributions and discretionary bonus payments resulting from the capital conservation buffer framework described under Sec. 217.11, including the maximum payout amount for the quarter. ---------------------------------------------------------------------------------------------------------------- (c) General qualitative disclosure requirement. For each separate risk area described in Tables 5 through 10, the Board-regulated institution must describe its risk management objectives and policies, including: Strategies and processes; the structure and organization of the relevant risk management function; the scope and nature of risk reporting and/or measurement systems; policies for hedging and/or mitigating risk and strategies and processes for monitoring the continuing effectiveness of hedges/mitigants. Table 5 to Sec. 217.63 \1\--Credit Risk: General Disclosures ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to credit risk (excluding counterparty credit risk disclosed in accordance with Table 6), including the: (1) Policy for determining past due or delinquency status; (2) Policy for placing loans on nonaccrual; (3) Policy for returning loans to accrual status; (4) Definition of and policy for identifying impaired loans (for financial accounting purposes); (5) Description of the methodology that the Board-regulated institution uses to estimate its allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, including statistical methods used where applicable; (6) Policy for charging-off uncollectible amounts; and (7) Discussion of the Board-regulated institution's credit risk management policy. Quantitative Disclosures................ (b)........................ Total credit risk exposures and average credit risk exposures, after accounting offsets in accordance with GAAP, without taking into account the effects of credit risk mitigation techniques (for example, collateral and netting not permitted under GAAP), over the period categorized by major types of credit exposure. For example, Board-regulated institutions could use categories similar to that used for financial statement purposes. Such categories might include, for instance (1) Loans, off-balance sheet commitments, and other non-derivative off-balance sheet exposures; (2) Debt securities; and (3) OTC derivatives.\2\ (c)........................ Geographic distribution of exposures, categorized in significant areas by major types of credit exposure.\3\ (d)........................ Industry or counterparty type distribution of exposures, categorized by major types of credit exposure. (e)........................ By major industry or counterparty type: (1) Amount of impaired loans for which there was a related allowance under GAAP; (2) Amount of impaired loans for which there was no related allowance under GAAP; (3) Amount of loans past due 90 days and on nonaccrual; (4) Amount of loans past due 90 days and still accruing; \4\ (5) The balance in the allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, at the end of each period, disaggregated on the basis of the Board-regulated institution's impairment method. To disaggregate the information required on the basis of impairment methodology, an entity shall separately disclose the amounts based on the requirements in GAAP; and (6) Charge-offs during the period. (f)........................ Amount of impaired loans and, if available, the amount of past due loans categorized by significant geographic areas including, if practical, the amounts of allowances related to each geographical area,\5\ further categorized as required by GAAP. (g)........................ Reconciliation of changes in ALLL or AACL, as applicable.\6\ (h)........................ Remaining contractual maturity delineation (for example, one year or less) of the whole portfolio, categorized by credit exposure. ---------------------------------------------------------------------------------------------------------------- \1\ Table 5 does not cover equity exposures, which should be reported in Table 9. \2\ See, for example, ASC Topic 815-10 and 210, as they may be amended from time to time. \3\ Geographical areas may consist of individual countries, groups of countries, or regions within countries. A Board-regulated institution might choose to define the geographical areas based on the way the Board-regulated institution's portfolio is geographically managed. The criteria used to allocate the loans to geographical areas must be specified. \4\ A Board-regulated institution is encouraged also to provide an analysis of the aging of past-due loans. \5\ The portion of the general allowance that is not allocated to a geographical area should be disclosed separately. \6\ The reconciliation should include the following: A description of the allowance; the opening balance of the allowance; charge-offs taken against the allowance during the period; amounts provided (or reversed) for estimated probable loan losses during the period; any other adjustments (for example, exchange rate differences, business combinations, acquisitions and disposals of subsidiaries), including transfers between allowances; and the closing balance of the allowance. Charge-offs and recoveries that have been recorded directly to the income statement should be disclosed separately. [[Page 510]] Table 6 to Sec. 217.63--General Disclosure for Counterparty Credit Risk-Related Exposures ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to OTC derivatives, eligible margin loans, and repo-style transactions, including a discussion of: (1) The methodology used to assign credit limits for counterparty credit exposures; (2) Policies for securing collateral, valuing and managing collateral, and establishing credit reserves; (3) The primary types of collateral taken; and (4) The impact of the amount of collateral the Board-regulated institution would have to provide given a deterioration in the Board-regulated institution's own creditworthiness. Quantitative Disclosures................ (b)........................ Gross positive fair value of contracts, collateral held (including type, for example, cash, government securities), and net unsecured credit exposure.\1\ A Board-regulated institution also must disclose the notional value of credit derivative hedges purchased for counterparty credit risk protection and the distribution of current credit exposure by exposure type.\2\ (c)........................ Notional amount of purchased and sold credit derivatives, segregated between use for the Board-regulated institution's own credit portfolio and in its intermediation activities, including the distribution of the credit derivative products used, categorized further by protection bought and sold within each product group. ---------------------------------------------------------------------------------------------------------------- \1\ Net unsecured credit exposure is the credit exposure after considering both the benefits from legally enforceable netting agreements and collateral arrangements without taking into account haircuts for price volatility, liquidity, etc. \2\ This may include interest rate derivative contracts, foreign exchange derivative contracts, equity derivative contracts, credit derivatives, commodity or other derivative contracts, repo-style transactions, and eligible margin loans. Table 7 to Sec. 217.63--Credit Risk Mitigation \1 2\ ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to credit risk mitigation, including: (1) Policies and processes for collateral valuation and management; (2) A description of the main types of collateral taken by the Board-regulated institution; (3) The main types of guarantors/credit derivative counterparties and their creditworthiness; and (4) Information about (market or credit) risk concentrations with respect to credit risk mitigation. Quantitative Disclosures................ (b)........................ For each separately disclosed credit risk portfolio, the total exposure that is covered by eligible financial collateral, and after the application of haircuts. (c)........................ For each separately disclosed portfolio, the total exposure that is covered by guarantees/credit derivatives and the risk-weighted asset amount associated with that exposure. ---------------------------------------------------------------------------------------------------------------- \1\ At a minimum, a Board-regulated institution must provide the disclosures in Table 7 in relation to credit risk mitigation that has been recognized for the purposes of reducing capital requirements under this subpart. Where relevant, Board-regulated institutions are encouraged to give further information about mitigants that have not been recognized for that purpose. \2\ Credit derivatives that are treated, for the purposes of this subpart, as synthetic securitization exposures should be excluded from the credit risk mitigation disclosures and included within those relating to securitization (Table 8). Table 8 to Sec. 217.63--Securitization ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to a securitization (including synthetic securitizations), including a discussion of: (1) The Board-regulated institution's objectives for securitizing assets, including the extent to which these activities transfer credit risk of the underlying exposures away from the Board- regulated institution to other entities and including the type of risks assumed and retained with resecuritization activity; \1\ (2) The nature of the risks (e.g., liquidity risk) inherent in the securitized assets; (3) The roles played by the Board- regulated institution in the securitization process \2\ and an indication of the extent of the Board- regulated institution's involvement in each of them; (4) The processes in place to monitor changes in the credit and market risk of securitization exposures including how those processes differ for resecuritization exposures; (5) The Board-regulated institution's policy for mitigating the credit risk retained through securitization and resecuritization exposures; and (6) The risk-based capital approaches that the Board-regulated institution follows for its securitization exposures including the type of securitization exposure to which each approach applies. (b)........................ A list of: (1) The type of securitization SPEs that the Board-regulated institution, as sponsor, uses to securitize third-party exposures. The Board-regulated institution must indicate whether it has exposure to these SPEs, either on- or off-balance sheet; and (2) Affiliated entities: (i) That the Board-regulated institution manages or advises; and (ii) That invest either in the securitization exposures that the Board- regulated institution has securitized or in securitization SPEs that the Board- regulated institution sponsors.\3\ (c)........................ Summary of the Board-regulated institution's accounting policies for securitization activities, including: (1) Whether the transactions are treated as sales or financings; [[Page 511]] (2) Recognition of gain-on-sale; (3) Methods and key assumptions applied in valuing retained or purchased interests; (4) Changes in methods and key assumptions from the previous period for valuing retained interests and impact of the changes; (5) Treatment of synthetic securitizations; (6) How exposures intended to be securitized are valued and whether they are recorded under subpart D of this part; and (7) Policies for recognizing liabilities on the balance sheet for arrangements that could require the Board-regulated institution to provide financial support for securitized assets. (d)........................ An explanation of significant changes to any quantitative information since the last reporting period. Quantitative Disclosures................ (e)........................ The total outstanding exposures securitized by the Board-regulated institution in securitizations that meet the operational criteria provided in Sec. 217.41 (categorized into traditional and synthetic securitizations), by exposure type, separately for securitizations of third- party exposures for which the bank acts only as sponsor.\4\ (f)........................ For exposures securitized by the Board- regulated institution in securitizations that meet the operational criteria in Sec. 217.41: (1) Amount of securitized assets that are impaired/past due categorized by exposure type; \5\ and (2) Losses recognized by the Board- regulated institution during the current period categorized by exposure type.\6\ (g)........................ The total amount of outstanding exposures intended to be securitized categorized by exposure type. (h)........................ Aggregate amount of: (1) On-balance sheet securitization exposures retained or purchased categorized by exposure type; and (2) Off-balance sheet securitization exposures categorized by exposure type. (i)........................ (1) Aggregate amount of securitization exposures retained or purchased and the associated capital requirements for these exposures, categorized between securitization and resecuritization exposures, further categorized into a meaningful number of risk weight bands and by risk-based capital approach (e.g., SSFA); and (2) Aggregate amount disclosed separately by type of underlying exposure in the pool of any: (i) After-tax gain-on-sale on a securitization that has been deducted from common equity tier 1 capital; and (ii) Credit-enhancing interest-only strip that is assigned a 1,250 percent risk weight. (j)........................ Summary of current year's securitization activity, including the amount of exposures securitized (by exposure type), and recognized gain or loss on sale by exposure type. (k)........................ Aggregate amount of resecuritization exposures retained or purchased categorized according to: (1) Exposures to which credit risk mitigation is applied and those not applied; and (2) Exposures to guarantors categorized according to guarantor creditworthiness categories or guarantor name. ---------------------------------------------------------------------------------------------------------------- \1\ The Board-regulated institution should describe the structure of resecuritizations in which it participates; this description should be provided for the main categories of resecuritization products in which the Board- regulated institution is active. \2\ For example, these roles may include originator, investor, servicer, provider of credit enhancement, sponsor, liquidity provider, or swap provider. \3\ Such affiliated entities may include, for example, money market funds, to be listed individually, and personal and private trusts, to be noted collectively. \4\ ``Exposures securitized'' include underlying exposures originated by the bank, whether generated by them or purchased, and recognized in the balance sheet, from third parties, and third-party exposures included in sponsored transactions. Securitization transactions (including underlying exposures originally on the bank's balance sheet and underlying exposures acquired by the bank from third-party entities) in which the originating bank does not retain any securitization exposure should be shown separately but need only be reported for the year of inception. Banks are required to disclose exposures regardless of whether there is a capital charge under this part. \5\ Include credit-related other than temporary impairment (OTTI). \6\ For example, charge-offs/allowances (if the assets remain on the bank's balance sheet) or credit-related OTTI of interest-only strips and other retained residual interests, as well as recognition of liabilities for probable future financial support required of the bank with respect to securitized assets. Table 9 to Sec. 217.63--Equities Not Subject to Subpart F of This Part ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to equity risk for equities not subject to subpart F of this part, including: (1) Differentiation between holdings on which capital gains are expected and those taken under other objectives including for relationship and strategic reasons; and (2) Discussion of important policies covering the valuation of and accounting for equity holdings not subject to subpart F of this part. This includes the accounting techniques and valuation methodologies used, including key assumptions and practices affecting valuation as well as significant changes in these practices. Quantitative Disclosures................ (b)........................ Value disclosed on the balance sheet of investments, as well as the fair value of those investments; for securities that are publicly traded, a comparison to publicly-quoted share values where the share price is materially different from fair value. (c)........................ The types and nature of investments, including the amount that is: (1) Publicly traded; and (2) Non publicly traded. [[Page 512]] (d)........................ The cumulative realized gains (losses) arising from sales and liquidations in the reporting period. (e)........................ (1) Total unrealized gains (losses).\1\ (2) Total latent revaluation gains (losses).\2\ (3) Any amounts of the above included in tier 1 or tier 2 capital. (f)........................ Capital requirements categorized by appropriate equity groupings, consistent with the Board-regulated institution's methodology, as well as the aggregate amounts and the type of equity investments subject to any supervisory transition regarding regulatory capital requirements. ---------------------------------------------------------------------------------------------------------------- \1\ Unrealized gains (losses) recognized on the balance sheet but not through earnings. \2\ Unrealized gains (losses) not recognized either on the balance sheet or through earnings. Table 10 to Sec. 217.63--Interest Rate Risk for Non-Trading Activities ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement, including the nature of interest rate risk for non-trading activities and key assumptions, including assumptions regarding loan prepayments and behavior of non-maturity deposits, and frequency of measurement of interest rate risk for non-trading activities. Quantitative disclosures................ (b)........................ The increase (decline) in earnings or economic value (or relevant measure used by management) for upward and downward rate shocks according to management's method for measuring interest rate risk for non-trading activities, categorized by currency (as appropriate). ---------------------------------------------------------------------------------------------------------------- (d) A Category III Board-regulated institution that is required to publicly disclose its supplementary leverage ratio pursuant to Sec. 217.172(d) is subject to the supplementary leverage ratio disclosure requirement at Sec. 217.173(a)(2). (e) A Category III Board-regulated institution that is required to calculate a countercyclical capital buffer pursuant to Sec. 217.11 is subject to the disclosure requirement at Table 4 to Sec. 217.173, ``Capital Conservation and Countercyclical Capital Buffers,'' and not to the disclosure requirement at Table 4 to this section, ``Capital Conservation Buffer.'' [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 84 FR 4242, Feb. 14, 2019; 84 FR 35267, July 22, 2019; 84 FR 59271, Nov. 1, 2019] Sec. Sec. 217.64-217.99 [Reserved] Subpart E_Risk-Weighted Assets_Internal Ratings-Based and Advanced Measurement Approaches Sec. 217.100 Purpose, applicability, and principle of conservatism. (a) Purpose. This subpart E establishes: (1) Minimum qualifying criteria for Board-regulated institutions using institution-specific internal risk measurement and management processes for calculating risk-based capital requirements; and (2) Methodologies for such Board-regulated institutions to calculate their total risk-weighted assets. (b) Applicability. (1) This subpart applies to: (i) A top-tier bank holding company or savings and loan holding company domiciled in the United States that: (A) Is not a consolidated subsidiary of another bank holding company or savings and loan holding company that uses this subpart to calculate its risk-based capital requirements; and (B) That: (1) Is identified as a global systemically important BHC pursuant to Sec. 217.402; (2) Is identified as a Category II banking organization pursuant to 12 CFR 252.5 or 12 CFR 238.10; or (3) Has a subsidiary depository institution that is required, or has elected, to use 12 CFR part 3, subpart E (OCC), this subpart (Board), or 12 CFR part 324, subpart E (FDIC), to calculate its risk-based capital requirements; (ii) A state member bank that: (A) Is a subsidiary of a global systemically important BHC; (B) Is a Category II Board-regulated institution; (C) Is a subsidiary of a depository institution that uses 12 CFR part 3, subpart E (OCC), this subpart (Board), or 12 CFR part 324, subpart E (FDIC), to calculate its risk-based capital requirements; or [[Page 513]] (D) Is a subsidiary of a bank holding company or savings and loan holding company that uses this subpart to calculate its risk-based capital requirements; or (iii) Any Board-regulated institution that elects to use this subpart to calculate its risk-based capital requirements. (2) A market risk Board-regulated institution must exclude from its calculation of risk-weighted assets under this subpart the risk-weighted asset amounts of all covered positions, as defined in subpart F of this part (except foreign exchange positions that are not trading positions, over-the-counter derivative positions, cleared transactions, and unsettled transactions). (c) Principle of conservatism. Notwithstanding the requirements of this subpart, a Board-regulated institution may choose not to apply a provision of this subpart to one or more exposures provided that: (1) The Board-regulated institution can demonstrate on an ongoing basis to the satisfaction of the Board that not applying the provision would, in all circumstances, unambiguously generate a risk-based capital requirement for each such exposure greater than that which would otherwise be required under this subpart; (2) The Board-regulated institution appropriately manages the risk of each such exposure; (3) The Board-regulated institution notifies the Board in writing prior to applying this principle to each such exposure; and (4) The exposures to which the Board-regulated institution applies this principle are not, in the aggregate, material to the Board- regulated institution. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62288, Oct. 11, 2013; 80 FR 41419, July 15, 2015; 84 FR 59271, Nov. 1, 2019] Sec. 217.101 Definitions. (a) Terms that are set forth in Sec. 217.2 and used in this subpart have the definitions assigned thereto in Sec. 217.2. (b) For the purposes of this subpart, the following terms are defined as follows: Advanced internal ratings-based (IRB) systems means an advanced approaches Board-regulated institution's internal risk rating and segmentation system; risk parameter quantification system; data management and maintenance system; and control, oversight, and validation system for credit risk of wholesale and retail exposures. Advanced systems means an advanced approaches Board-regulated institution's advanced IRB systems, operational risk management processes, operational risk data and assessment systems, operational risk quantification systems, and, to the extent used by the Board- regulated institution, the internal models methodology, advanced CVA approach, double default excessive correlation detection process, and internal models approach (IMA) for equity exposures. Backtesting means the comparison of a Board-regulated institution's internal estimates with actual outcomes during a sample period not used in model development. In this context, backtesting is one form of out- of-sample testing. Benchmarking means the comparison of a Board-regulated institution's internal estimates with relevant internal and external data or with estimates based on other estimation techniques. Bond option contract means a bond option, bond future, or any other instrument linked to a bond that gives rise to similar counterparty credit risk. Business environment and internal control factors means the indicators of a Board-regulated institution's operational risk profile that reflect a current and forward-looking assessment of the Board- regulated institution's underlying business risk factors and internal control environment. Credit default swap (CDS) means a financial contract executed under standard industry documentation that allows one party (the protection purchaser) to transfer the credit risk of one or more exposures (reference exposure(s)) to another party (the protection provider) for a certain period of time. Credit valuation adjustment (CVA) means the fair value adjustment to reflect counterparty credit risk in valuation of OTC derivative contracts. Default--For the purposes of calculating capital requirements under this subpart: [[Page 514]] (1) Retail. (i) A retail exposure of a Board-regulated institution is in default if: (A) The exposure is 180 days past due, in the case of a residential mortgage exposure or revolving exposure; (B) The exposure is 120 days past due, in the case of retail exposures that are not residential mortgage exposures or revolving exposures; or (C) The Board-regulated institution has taken a full or partial charge-off, write-down of principal, or material negative fair value adjustment of principal on the exposure for credit-related reasons. (ii) Notwithstanding paragraph (1)(i) of this definition, for a retail exposure held by a non-U.S. subsidiary of the Board-regulated institution that is subject to an internal ratings-based approach to capital adequacy consistent with the Basel Committee on Banking Supervision's ``International Convergence of Capital Measurement and Capital Standards: A Revised Framework'' in a non-U.S. jurisdiction, the Board-regulated institution may elect to use the definition of default that is used in that jurisdiction, provided that the Board-regulated institution has obtained prior approval from the Board to use the definition of default in that jurisdiction. (iii) A retail exposure in default remains in default until the Board-regulated institution has reasonable assurance of repayment and performance for all contractual principal and interest payments on the exposure. (2) Wholesale. (i) A Board-regulated institution's wholesale obligor is in default if: (A) The Board-regulated institution determines that the obligor is unlikely to pay its credit obligations to the Board-regulated institution in full, without recourse by the Board-regulated institution to actions such as realizing collateral (if held); or (B) The obligor is past due more than 90 days on any material credit obligation(s) to the Board-regulated institution.\29\ --------------------------------------------------------------------------- \29\ Overdrafts are past due once the obligor has breached an advised limit or been advised of a limit smaller than the current outstanding balance. --------------------------------------------------------------------------- (ii) An obligor in default remains in default until the Board- regulated institution has reasonable assurance of repayment and performance for all contractual principal and interest payments on all exposures of the Board-regulated institution to the obligor (other than exposures that have been fully written-down or charged-off). Dependence means a measure of the association among operational losses across and within units of measure. Economic downturn conditions means, with respect to an exposure held by the Board-regulated institution, those conditions in which the aggregate default rates for that exposure's wholesale or retail exposure subcategory (or subdivision of such subcategory selected by the Board- regulated institution) in the exposure's national jurisdiction (or subdivision of such jurisdiction selected by the Board-regulated institution) are significantly higher than average. Effective maturity (M) of a wholesale exposure means: (1) For wholesale exposures other than repo-style transactions, eligible margin loans, and OTC derivative contracts described in paragraph (2) or (3) of this definition: (i) The weighted-average remaining maturity (measured in years, whole or fractional) of the expected contractual cash flows from the exposure, using the undiscounted amounts of the cash flows as weights; or (ii) The nominal remaining maturity (measured in years, whole or fractional) of the exposure. (2) For repo-style transactions, eligible margin loans, and OTC derivative contracts subject to a qualifying master netting agreement for which the Board-regulated institution does not apply the internal models approach in section 132(d), the weighted-average remaining maturity (measured in years, whole or fractional) of the individual transactions subject to the qualifying master netting agreement, with the weight of each individual transaction set equal to the notional amount of the transaction. (3) For repo-style transactions, eligible margin loans, and OTC derivative contracts for which the Board-regulated institution applies the internal [[Page 515]] models approach in Sec. 217.132(d), the value determined in Sec. 217.132(d)(4). Eligible double default guarantor, with respect to a guarantee or credit derivative obtained by a Board-regulated institution, means: (1) U.S.-based entities. A depository institution, a bank holding company, a savings and loan holding company, or a securities broker or dealer registered with the SEC under the Securities Exchange Act, if at the time the guarantee is issued or anytime thereafter, has issued and outstanding an unsecured debt security without credit enhancement that is investment grade. (2) Non-U.S.-based entities. A foreign bank, or a non-U.S.-based securities firm if the Board-regulated institution demonstrates that the guarantor is subject to consolidated supervision and regulation comparable to that imposed on U.S. depository institutions, or securities broker-dealers) if at the time the guarantee is issued or anytime thereafter, has issued and outstanding an unsecured debt security without credit enhancement that is investment grade. Eligible operational risk offsets means amounts, not to exceed expected operational loss, that: (1) Are generated by internal business practices to absorb highly predictable and reasonably stable operational losses, including reserves calculated consistent with GAAP; and (2) Are available to cover expected operational losses with a high degree of certainty over a one-year horizon. Eligible purchased wholesale exposure means a purchased wholesale exposure that: (1) The Board-regulated institution or securitization SPE purchased from an unaffiliated seller and did not directly or indirectly originate; (2) Was generated on an arm's-length basis between the seller and the obligor (intercompany accounts receivable and receivables subject to contra-accounts between firms that buy and sell to each other do not satisfy this criterion); (3) Provides the Board-regulated institution or securitization SPE with a claim on all proceeds from the exposure or a pro rata interest in the proceeds from the exposure; (4) Has an M of less than one year; and (5) When consolidated by obligor, does not represent a concentrated exposure relative to the portfolio of purchased wholesale exposures. Expected exposure (EE) means the expected value of the probability distribution of non-negative credit risk exposures to a counterparty at any specified future date before the maturity date of the longest term transaction in the netting set. Any negative fair values in the probability distribution of fair values to a counterparty at a specified future date are set to zero to convert the probability distribution of fair values to the probability distribution of credit risk exposures. Expected operational loss (EOL) means the expected value of the distribution of potential aggregate operational losses, as generated by the Board-regulated institution's operational risk quantification system using a one-year horizon. Expected positive exposure (EPE) means the weighted average over time of expected (non-negative) exposures to a counterparty where the weights are the proportion of the time interval that an individual expected exposure represents. When calculating risk-based capital requirements, the average is taken over a one-year horizon. Exposure at default (EAD) means: (1) For the on-balance sheet component of a wholesale exposure or segment of retail exposures (other than an OTC derivative contract, a repo-style transaction or eligible margin loan for which the Board- regulated institution determines EAD under Sec. 217.132, a cleared transaction, or default fund contribution), EAD means the Board- regulated institution's carrying value (including net accrued but unpaid interest and fees) for the exposure or segment less any allocated transfer risk reserve for the exposure or segment. (2) For the off-balance sheet component of a wholesale exposure or segment of retail exposures (other than an OTC derivative contract, a repo-style transaction or eligible margin loan for which the Board- regulated institution determines EAD under Sec. 217.132, cleared [[Page 516]] transaction, or default fund contribution) in the form of a loan commitment, line of credit, trade-related letter of credit, or transaction-related contingency, EAD means the Board-regulated institution's best estimate of net additions to the outstanding amount owed the Board-regulated institution, including estimated future additional draws of principal and accrued but unpaid interest and fees, that are likely to occur over a one-year horizon assuming the wholesale exposure or the retail exposures in the segment were to go into default. This estimate of net additions must reflect what would be expected during economic downturn conditions. For the purposes of this definition: (i) Trade-related letters of credit are short-term, self-liquidating instruments that are used to finance the movement of goods and are collateralized by the underlying goods. (ii) Transaction-related contingencies relate to a particular transaction and include, among other things, performance bonds and performance-based letters of credit. (3) For the off-balance sheet component of a wholesale exposure or segment of retail exposures (other than an OTC derivative contract, a repo-style transaction, or eligible margin loan for which the Board- regulated institution determines EAD under Sec. 217.132, cleared transaction, or default fund contribution) in the form of anything other than a loan commitment, line of credit, trade-related letter of credit, or transaction-related contingency, EAD means the notional amount of the exposure or segment. (4) EAD for OTC derivative contracts is calculated as described in Sec. 217.132. A Board-regulated institution also may determine EAD for repo-style transactions and eligible margin loans as described in Sec. 217.132. Exposure category means any of the wholesale, retail, securitization, or equity exposure categories. External operational loss event data means, with respect to a Board- regulated institution, gross operational loss amounts, dates, recoveries, and relevant causal information for operational loss events occurring at organizations other than the Board-regulated institution. IMM exposure means a repo-style transaction, eligible margin loan, or OTC derivative for which a Board-regulated institution calculates its EAD using the internal models methodology of Sec. 217.132(d). Internal operational loss event data means, with respect to a Board- regulated institution, gross operational loss amounts, dates, recoveries, and relevant causal information for operational loss events occurring at the Board-regulated institution. Loss given default (LGD) means: (1) For a wholesale exposure, the greatest of: (i) Zero; (ii) The Board-regulated institution's empirically based best estimate of the long-run default-weighted average economic loss, per dollar of EAD, the Board-regulated institution would expect to incur if the obligor (or a typical obligor in the loss severity grade assigned by the Board-regulated institution to the exposure) were to default within a one-year horizon over a mix of economic conditions, including economic downturn conditions; or (iii) The Board-regulated institution's empirically based best estimate of the economic loss, per dollar of EAD, the Board-regulated institution would expect to incur if the obligor (or a typical obligor in the loss severity grade assigned by the Board-regulated institution to the exposure) were to default within a one-year horizon during economic downturn conditions. (2) For a segment of retail exposures, the greatest of: (i) Zero; (ii) The Board-regulated institution's empirically based best estimate of the long-run default-weighted average economic loss, per dollar of EAD, the Board-regulated institution would expect to incur if the exposures in the segment were to default within a one-year horizon over a mix of economic conditions, including economic downturn conditions; or (iii) The Board-regulated institution's empirically based best estimate of the economic loss, per dollar of EAD, the Board-regulated institution would expect to incur if the exposures in the [[Page 517]] segment were to default within a one-year horizon during economic downturn conditions. (3) The economic loss on an exposure in the event of default is all material credit-related losses on the exposure (including accrued but unpaid interest or fees, losses on the sale of collateral, direct workout costs, and an appropriate allocation of indirect workout costs). Where positive or negative cash flows on a wholesale exposure to a defaulted obligor or a defaulted retail exposure (including proceeds from the sale of collateral, workout costs, additional extensions of credit to facilitate repayment of the exposure, and draw-downs of unused credit lines) occur after the date of default, the economic loss must reflect the net present value of cash flows as of the default date using a discount rate appropriate to the risk of the defaulted exposure. Obligor means the legal entity or natural person contractually obligated on a wholesale exposure, except that a Board-regulated institution may treat the following exposures as having separate obligors: (1) Exposures to the same legal entity or natural person denominated in different currencies; (2)(i) An income-producing real estate exposure for which all or substantially all of the repayment of the exposure is reliant on the cash flows of the real estate serving as collateral for the exposure; the Board-regulated institution, in economic substance, does not have recourse to the borrower beyond the real estate collateral; and no cross-default or cross-acceleration clauses are in place other than clauses obtained solely out of an abundance of caution; and (ii) Other credit exposures to the same legal entity or natural person; and (3)(i) A wholesale exposure authorized under section 364 of the U.S. Bankruptcy Code (11 U.S.C. 364) to a legal entity or natural person who is a debtor-in-possession for purposes of Chapter 11 of the Bankruptcy Code; and (ii) Other credit exposures to the same legal entity or natural person. Operational loss means a loss (excluding insurance or tax effects) resulting from an operational loss event. Operational loss includes all expenses associated with an operational loss event except for opportunity costs, forgone revenue, and costs related to risk management and control enhancements implemented to prevent future operational losses. Operational loss event means an event that results in loss and is associated with any of the following seven operational loss event type categories: (1) Internal fraud, which means the operational loss event type category that comprises operational losses resulting from an act involving at least one internal party of a type intended to defraud, misappropriate property, or circumvent regulations, the law, or company policy excluding diversity- and discrimination-type events. (2) External fraud, which means the operational loss event type category that comprises operational losses resulting from an act by a third party of a type intended to defraud, misappropriate property, or circumvent the law. Retail credit card losses arising from non- contractual, third-party-initiated fraud (for example, identity theft) are external fraud operational losses. All other third-party-initiated credit losses are to be treated as credit risk losses. (3) Employment practices and workplace safety, which means the operational loss event type category that comprises operational losses resulting from an act inconsistent with employment, health, or safety laws or agreements, payment of personal injury claims, or payment arising from diversity- and discrimination-type events. (4) Clients, products, and business practices, which means the operational loss event type category that comprises operational losses resulting from the nature or design of a product or from an unintentional or negligent failure to meet a professional obligation to specific clients (including fiduciary and suitability requirements). (5) Damage to physical assets, which means the operational loss event type category that comprises operational losses resulting from the loss of or damage to physical assets from natural disaster or other events. [[Page 518]] (6) Business disruption and system failures, which means the operational loss event type category that comprises operational losses resulting from disruption of business or system failures. (7) Execution, delivery, and process management, which means the operational loss event type category that comprises operational losses resulting from failed transaction processing or process management or losses arising from relations with trade counterparties and vendors. Operational risk means the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events (including legal risk but excluding strategic and reputational risk). Operational risk exposure means the 99.9th percentile of the distribution of potential aggregate operational losses, as generated by the Board-regulated institution's operational risk quantification system over a one-year horizon (and not incorporating eligible operational risk offsets or qualifying operational risk mitigants). Other retail exposure means an exposure (other than a securitization exposure, an equity exposure, a residential mortgage exposure, a pre- sold construction loan, a qualifying revolving exposure, or the residual value portion of a lease exposure) that is managed as part of a segment of exposures with homogeneous risk characteristics, not on an individual-exposure basis, and is either: (1) An exposure to an individual for non-business purposes; or (2) An exposure to an individual or company for business purposes if the Board-regulated institution's consolidated business credit exposure to the individual or company is $1 million or less. Probability of default (PD) means: (1) For a wholesale exposure to a non-defaulted obligor, the Board- regulated institution's empirically based best estimate of the long-run average one-year default rate for the rating grade assigned by the Board-regulated institution to the obligor, capturing the average default experience for obligors in the rating grade over a mix of economic conditions (including economic downturn conditions) sufficient to provide a reasonable estimate of the average one-year default rate over the economic cycle for the rating grade. (2) For a segment of non-defaulted retail exposures, the Board- regulated institution's empirically based best estimate of the long-run average one-year default rate for the exposures in the segment, capturing the average default experience for exposures in the segment over a mix of economic conditions (including economic downturn conditions) sufficient to provide a reasonable estimate of the average one-year default rate over the economic cycle for the segment. (3) For a wholesale exposure to a defaulted obligor or segment of defaulted retail exposures, 100 percent. Qualifying cross-product master netting agreement means a qualifying master netting agreement that provides for termination and close-out netting across multiple types of financial transactions or qualifying master netting agreements in the event of a counterparty's default, provided that the underlying financial transactions are OTC derivative contracts, eligible margin loans, or repo-style transactions. In order to treat an agreement as a qualifying cross-product master netting agreement for purposes of this subpart, a Board-regulated institution must comply with the requirements of Sec. 217.3(c) of this part with respect to that agreement. Qualifying revolving exposure (QRE) means an exposure (other than a securitization exposure or equity exposure) to an individual that is managed as part of a segment of exposures with homogeneous risk characteristics, not on an individual-exposure basis, and: (1) Is revolving (that is, the amount outstanding fluctuates, determined largely by a borrower's decision to borrow and repay up to a pre-established maximum amount, except for an outstanding amount that the borrower is required to pay in full every month); (2) Is unsecured and unconditionally cancelable by the Board- regulated institution to the fullest extent permitted by Federal law; and (3)(i) Has a maximum contractual exposure amount (drawn plus undrawn) of up to $100,000; or [[Page 519]] (ii) With respect to a product with an outstanding amount that the borrower is required to pay in full every month, the total outstanding amount does not in practice exceed $100,000. (4) A segment of exposures that contains one or more exposures that fails to meet paragraph (3)(ii) of this definition must be treated as a segment of other retail exposures for the 24 month period following the month in which the total outstanding amount of one or more exposures individually exceeds $100,000. Retail exposure means a residential mortgage exposure, a qualifying revolving exposure, or an other retail exposure. Retail exposure subcategory means the residential mortgage exposure, qualifying revolving exposure, or other retail exposure subcategory. Risk parameter means a variable used in determining risk-based capital requirements for wholesale and retail exposures, specifically probability of default (PD), loss given default (LGD), exposure at default (EAD), or effective maturity (M). Scenario analysis means a systematic process of obtaining expert opinions from business managers and risk management experts to derive reasoned assessments of the likelihood and loss impact of plausible high-severity operational losses. Scenario analysis may include the well-reasoned evaluation and use of external operational loss event data, adjusted as appropriate to ensure relevance to a Board-regulated institution's operational risk profile and control structure. Total wholesale and retail risk-weighted assets means the sum of: (1) Risk-weighted assets for wholesale exposures that are not IMM exposures, cleared transactions, or default fund contributions to non- defaulted obligors and segments of non-defaulted retail exposures; (2) Risk-weighted assets for wholesale exposures to defaulted obligors and segments of defaulted retail exposures; (3) Risk-weighted assets for assets not defined by an exposure category; (4) Risk-weighted assets for non-material portfolios of exposures; (5) Risk-weighted assets for IMM exposures (as determined in Sec. 217.132(d)); (6) Risk-weighted assets for cleared transactions and risk-weighted assets for default fund contributions (as determined in Sec. 217.133); and (7) Risk-weighted assets for unsettled transactions (as determined in Sec. 217.136). Unexpected operational loss (UOL) means the difference between the Board-regulated institution's operational risk exposure and the Board- regulated institution's expected operational loss. Unit of measure means the level (for example, organizational unit or operational loss event type) at which the Board-regulated institution's operational risk quantification system generates a separate distribution of potential operational losses. Wholesale exposure means a credit exposure to a company, natural person, sovereign, or governmental entity (other than a securitization exposure, retail exposure, pre-sold construction loan, or equity exposure). Wholesale exposure subcategory means the HVCRE or non-HVCRE wholesale exposure subcategory. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 78295, Dec. 30, 2014] Sec. Sec. 217.102-217.120 [Reserved] Qualification Sec. 217.121 Qualification process. (a) Timing. (1) A Board-regulated institution that is described in Sec. 217.100(b)(1)(i) and (ii) must adopt a written implementation plan no later than six months after the date the Board-regulated institution meets a criterion in that section. The implementation plan must incorporate an explicit start date no later than 36 months after the date the Board-regulated institution meets at least one criterion under Sec. 217.100(b)(1)(i) and (ii). The Board may extend the start date. (2) A Board-regulated institution that elects to be subject to this subpart under Sec. 217.101(b)(1)(iii) must adopt a written implementation plan. (b) Implementation plan. (1) The Board-regulated institution's implementation plan must address in detail [[Page 520]] how the Board-regulated institution complies, or plans to comply, with the qualification requirements in Sec. 217.122. The Board-regulated institution also must maintain a comprehensive and sound planning and governance process to oversee the implementation efforts described in the plan. At a minimum, the plan must: (i) Comprehensively address the qualification requirements in Sec. 217.122 for the Board-regulated institution and each consolidated subsidiary (U.S. and foreign-based) of the Board-regulated institution with respect to all portfolios and exposures of the Board-regulated institution and each of its consolidated subsidiaries; (ii) Justify and support any proposed temporary or permanent exclusion of business lines, portfolios, or exposures from the application of the advanced approaches in this subpart (which business lines, portfolios, and exposures must be, in the aggregate, immaterial to the Board-regulated institution); (iii) Include the Board-regulated institution's self-assessment of: (A) The Board-regulated institution's current status in meeting the qualification requirements in Sec. 217.122; and (B) The consistency of the Board-regulated institution's current practices with the Board's supervisory guidance on the qualification requirements; (iv) Based on the Board-regulated institution's self-assessment, identify and describe the areas in which the Board-regulated institution proposes to undertake additional work to comply with the qualification requirements in Sec. 217.122 or to improve the consistency of the Board-regulated institution's current practices with the Board's supervisory guidance on the qualification requirements (gap analysis); (v) Describe what specific actions the Board-regulated institution will take to address the areas identified in the gap analysis required by paragraph (b)(1)(iv) of this section; (vi) Identify objective, measurable milestones, including delivery dates and a date when the Board-regulated institution's implementation of the methodologies described in this subpart will be fully operational; (vii) Describe resources that have been budgeted and are available to implement the plan; and (viii) Receive approval of the Board-regulated institution's board of directors. (2) The Board-regulated institution must submit the implementation plan, together with a copy of the minutes of the board of directors' approval, to the Board at least 60 days before the Board-regulated institution proposes to begin its parallel run, unless the Board waives prior notice. (c) Parallel run. Before determining its risk-weighted assets under this subpart and following adoption of the implementation plan, the Board-regulated institution must conduct a satisfactory parallel run. A satisfactory parallel run is a period of no less than four consecutive calendar quarters during which the Board-regulated institution complies with the qualification requirements in Sec. 217.122 to the satisfaction of the Board. During the parallel run, the Board-regulated institution must report to the Board on a calendar quarterly basis its risk-based capital ratios determined in accordance with Sec. 217.10(b)(1) through (3) and Sec. 217.10(d)(1) through (3). During this period, the Board- regulated institution's minimum risk-based capital ratios are determined as set forth in subpart D of this part. (d) Approval to calculate risk-based capital requirements under this subpart. The Board will notify the Board-regulated institution of the date that the Board-regulated institution must begin to use this subpart for purposes of Sec. 217.10 if the Board determines that: (1) The Board-regulated institution fully complies with all the qualification requirements in Sec. 217.122; (2) The Board-regulated institution has conducted a satisfactory parallel run under paragraph (c) of this section; and (3) The Board-regulated institution has an adequate process to ensure ongoing compliance with the qualification requirements in Sec. 217.122. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62288, Oct. 11, 2013; 86 FR 738, Jan. 6, 2021] [[Page 521]] Sec. 217.122 Qualification requirements. (a) Process and systems requirements. (1) A Board-regulated institution must have a rigorous process for assessing its overall capital adequacy in relation to its risk profile and a comprehensive strategy for maintaining an appropriate level of capital. (2) The systems and processes used by a Board-regulated institution for risk-based capital purposes under this subpart must be consistent with the Board-regulated institution's internal risk management processes and management information reporting systems. (3) Each Board-regulated institution must have an appropriate infrastructure with risk measurement and management processes that meet the qualification requirements of this section and are appropriate given the Board-regulated institution's size and level of complexity. Regardless of whether the systems and models that generate the risk parameters necessary for calculating a Board-regulated institution's risk-based capital requirements are located at any affiliate of the Board-regulated institution, the Board-regulated institution itself must ensure that the risk parameters and reference data used to determine its risk-based capital requirements are representative of long run experience with respect to its own credit risk and operational risk exposures. (b) Risk rating and segmentation systems for wholesale and retail exposures. (1)(i) A Board-regulated institution must have an internal risk rating and segmentation system that accurately, reliably, and meaningfully differentiates among degrees of credit risk for the Board- regulated institution's wholesale and retail exposures. When assigning an internal risk rating, a Board-regulated institution may consider a third-party assessment of credit risk, provided that the Board-regulated institution's internal risk rating assignment does not rely solely on the external assessment. (ii) If a Board-regulated institution uses multiple rating or segmentation systems, the Board-regulated institution's rationale for assigning an obligor or exposure to a particular system must be documented and applied in a manner that best reflects the obligor or exposure's level of risk. A Board-regulated institution must not inappropriately allocate obligors or exposures across systems to minimize regulatory capital requirements. (iii) In assigning ratings to wholesale obligors and exposures, including loss severity ratings grades to wholesale exposures, and assigning retail exposures to retail segments, a Board-regulated institution must use all relevant and material information and ensure that the information is current. (iv) When assigning an obligor to a PD rating or retail exposure to a PD segment, a Board-regulated institution must assess the obligor or retail borrower's ability and willingness to contractually perform, taking a conservative view of projected information. (2) For wholesale exposures: (i) A Board-regulated institution must have an internal risk rating system that accurately and reliably assigns each obligor to a single rating grade (reflecting the obligor's likelihood of default). A Board- regulated institution may elect, however, not to assign to a rating grade an obligor to whom the Board-regulated institution extends credit based solely on the financial strength of a guarantor, provided that all of the Board-regulated institution's exposures to the obligor are fully covered by eligible guarantees, the Board-regulated institution applies the PD substitution approach in Sec. 217.134(c)(1) to all exposures to that obligor, and the Board-regulated institution immediately assigns the obligor to a rating grade if a guarantee can no longer be recognized under this part. The Board-regulated institution's wholesale obligor rating system must have at least seven discrete rating grades for non- defaulted obligors and at least one rating grade for defaulted obligors. (ii) Unless the Board-regulated institution has chosen to directly assign LGD estimates to each wholesale exposure, the Board-regulated institution must have an internal risk rating system that accurately and reliably assigns each wholesale exposure to a loss severity rating grade (reflecting the Board-regulated institution's estimate of the LGD of the exposure). A Board- [[Page 522]] regulated institution employing loss severity rating grades must have a sufficiently granular loss severity grading system to avoid grouping together exposures with widely ranging LGDs. (iii) A Board-regulated institution must have an effective process to obtain and update in a timely manner relevant and material information on obligor and exposure characteristics that affect PD, LGD and EAD. (3) For retail exposures: (i) A Board-regulated institution must have an internal system that groups retail exposures into the appropriate retail exposure subcategory and groups the retail exposures in each retail exposure subcategory into separate segments with homogeneous risk characteristics that provide a meaningful differentiation of risk. The Board-regulated institution's system must identify and group in separate segments by subcategories exposures identified in Sec. 217.131(c)(2)(ii) and (iii). (ii) A Board-regulated institution must have an internal system that captures all relevant exposure risk characteristics, including borrower credit score, product and collateral types, as well as exposure delinquencies, and must consider cross-collateral provisions, where present. (iii) The Board-regulated institution must review and, if appropriate, update assignments of individual retail exposures to segments and the loss characteristics and delinquency status of each identified risk segment. These reviews must occur whenever the Board- regulated institution receives new material information, but generally no less frequently than quarterly, and, in all cases, at least annually. (4) The Board-regulated institution's internal risk rating policy for wholesale exposures must describe the Board-regulated institution's rating philosophy (that is, must describe how wholesale obligor rating assignments are affected by the Board-regulated institution's choice of the range of economic, business, and industry conditions that are considered in the obligor rating process). (5) The Board-regulated institution's internal risk rating system for wholesale exposures must provide for the review and update (as appropriate) of each obligor rating and (if applicable) each loss severity rating whenever the Board-regulated institution obtains relevant and material information on the obligor or exposure that affects PD, LGD and EAD, but no less frequently than annually. (c) Quantification of risk parameters for wholesale and retail exposures. (1) The Board-regulated institution must have a comprehensive risk parameter quantification process that produces accurate, timely, and reliable estimates of the risk parameters on a consistent basis for the Board-regulated institution's wholesale and retail exposures. (2) A Board-regulated institution's estimates of PD, LGD, and EAD must incorporate all relevant, material, and available data that is reflective of the Board-regulated institution's actual wholesale and retail exposures and of sufficient quality to support the determination of risk-based capital requirements for the exposures. In particular, the population of exposures in the data used for estimation purposes, the lending standards in use when the data were generated, and other relevant characteristics, should closely match or be comparable to the Board-regulated institution's exposures and standards. In addition, a Board-regulated institution must: (i) Demonstrate that its estimates are representative of long run experience, including periods of economic downturn conditions, whether internal or external data are used; (ii) Take into account any changes in lending practice or the process for pursuing recoveries over the observation period; (iii) Promptly reflect technical advances, new data, and other information as they become available; (iv) Demonstrate that the data used to estimate risk parameters support the accuracy and robustness of those estimates; and (v) Demonstrate that its estimation technique performs well in out- of-sample tests whenever possible. (3) The Board-regulated institution's risk parameter quantification process must produce appropriately conservative risk parameter estimates where the Board-regulated institution has [[Page 523]] limited relevant data, and any adjustments that are part of the quantification process must not result in a pattern of bias toward lower risk parameter estimates. (4) The Board-regulated institution's risk parameter estimation process should not rely on the possibility of U.S. government financial assistance, except for the financial assistance that the U.S. government has a legally binding commitment to provide. (5) The Board-regulated institution must be able to demonstrate which variables have been found to be statistically significant with regard to EAD. The Board-regulated institution's EAD estimates must reflect its specific policies and strategies with regard to account management, including account monitoring and payment processing, and its ability and willingness to prevent further drawdowns in circumstances short of payment default. The Board-regulated institution must have adequate systems and procedures in place to monitor current outstanding amounts against committed lines, and changes in outstanding amounts per obligor and obligor rating grade and per retail segment. The Board- regulated institution must be able to monitor outstanding amounts on a daily basis. (6) At a minimum, PD estimates for wholesale obligors and retail segments must be based on at least five years of default data. LGD estimates for wholesale exposures must be based on at least seven years of loss severity data, and LGD estimates for retail segments must be based on at least five years of loss severity data. EAD estimates for wholesale exposures must be based on at least seven years of exposure amount data, and EAD estimates for retail segments must be based on at least five years of exposure amount data. If the Board-regulated institution has relevant and material reference data that span a longer period of time than the minimum time periods specified above, the Board- regulated institution must incorporate such data in its estimates, provided that it does not place undue weight on periods of favorable or benign economic conditions relative to periods of economic downturn conditions. (7) Default, loss severity, and exposure amount data must include periods of economic downturn conditions, or the Board-regulated institution must adjust its estimates of risk parameters to compensate for the lack of data from periods of economic downturn conditions. (8) The Board-regulated institution's PD, LGD, and EAD estimates must be based on the definition of default in Sec. 217.101. (9) If a Board-regulated institution uses internal data obtained prior to becoming subject to this subpart E or external data to arrive at PD, LGD, or EAD estimates, the Board-regulated institution must demonstrate to the Board that the Board-regulated institution has made appropriate adjustments if necessary to be consistent with the definition of default in Sec. 217.101. Internal data obtained after the Board-regulated institution becomes subject to this subpart E must be consistent with the definition of default in Sec. 217.101. (10) The Board-regulated institution must review and update (as appropriate) its risk parameters and its risk parameter quantification process at least annually. (11) The Board-regulated institution must, at least annually, conduct a comprehensive review and analysis of reference data to determine relevance of the reference data to the Board-regulated institution's exposures, quality of reference data to support PD, LGD, and EAD estimates, and consistency of reference data to the definition of default in Sec. 217.101. (d) Counterparty credit risk model. A Board-regulated institution must obtain the prior written approval of the Board under Sec. 217.132 to use the internal models methodology for counterparty credit risk and the advanced CVA approach for the CVA capital requirement. (e) Double default treatment. A Board-regulated institution must obtain the prior written approval of the Board under Sec. 217.135 to use the double default treatment. (f) Equity exposures model. A Board-regulated institution must obtain the prior written approval of the Board [[Page 524]] under Sec. 217.153 to use the internal models approach for equity exposures. (g) Operational risk. (1) Operational risk management processes. A Board-regulated institution must: (i) Have an operational risk management function that: (A) Is independent of business line management; and (B) Is responsible for designing, implementing, and overseeing the Board-regulated institution's operational risk data and assessment systems, operational risk quantification systems, and related processes; (ii) Have and document a process (which must capture business environment and internal control factors affecting the Board-regulated institution's operational risk profile) to identify, measure, monitor, and control operational risk in the Board-regulated institution's products, activities, processes, and systems; and (iii) Report operational risk exposures, operational loss events, and other relevant operational risk information to business unit management, senior management, and the board of directors (or a designated committee of the board). (2) Operational risk data and assessment systems. A Board-regulated institution must have operational risk data and assessment systems that capture operational risks to which the Board-regulated institution is exposed. The Board-regulated institution's operational risk data and assessment systems must: (i) Be structured in a manner consistent with the Board-regulated institution's current business activities, risk profile, technological processes, and risk management processes; and (ii) Include credible, transparent, systematic, and verifiable processes that incorporate the following elements on an ongoing basis: (A) Internal operational loss event data. The Board-regulated institution must have a systematic process for capturing and using internal operational loss event data in its operational risk data and assessment systems. (1) The Board-regulated institution's operational risk data and assessment systems must include a historical observation period of at least five years for internal operational loss event data (or such shorter period approved by the Board to address transitional situations, such as integrating a new business line). (2) The Board-regulated institution must be able to map its internal operational loss event data into the seven operational loss event type categories. (3) The Board-regulated institution may refrain from collecting internal operational loss event data for individual operational losses below established dollar threshold amounts if the Board-regulated institution can demonstrate to the satisfaction of the Board that the thresholds are reasonable, do not exclude important internal operational loss event data, and permit the Board-regulated institution to capture substantially all the dollar value of the Board-regulated institution's operational losses. (B) External operational loss event data. The Board-regulated institution must have a systematic process for determining its methodologies for incorporating external operational loss event data into its operational risk data and assessment systems. (C) Scenario analysis. The Board-regulated institution must have a systematic process for determining its methodologies for incorporating scenario analysis into its operational risk data and assessment systems. (D) Business environment and internal control factors. The Board- regulated institution must incorporate business environment and internal control factors into its operational risk data and assessment systems. The Board-regulated institution must also periodically compare the results of its prior business environment and internal control factor assessments against its actual operational losses incurred in the intervening period. (3) Operational risk quantification systems. (i) The Board-regulated institution's operational risk quantification systems: (A) Must generate estimates of the Board-regulated institution's operational risk exposure using its operational risk data and assessment systems; [[Page 525]] (B) Must employ a unit of measure that is appropriate for the Board- regulated institution's range of business activities and the variety of operational loss events to which it is exposed, and that does not combine business activities or operational loss events with demonstrably different risk profiles within the same loss distribution; (C) Must include a credible, transparent, systematic, and verifiable approach for weighting each of the four elements, described in paragraph (g)(2)(ii) of this section, that a Board-regulated institution is required to incorporate into its operational risk data and assessment systems; (D) May use internal estimates of dependence among operational losses across and within units of measure if the Board-regulated institution can demonstrate to the satisfaction of the Board that its process for estimating dependence is sound, robust to a variety of scenarios, and implemented with integrity, and allows for uncertainty surrounding the estimates. If the Board-regulated institution has not made such a demonstration, it must sum operational risk exposure estimates across units of measure to calculate its total operational risk exposure; and (E) Must be reviewed and updated (as appropriate) whenever the Board-regulated institution becomes aware of information that may have a material effect on the Board-regulated institution's estimate of operational risk exposure, but the review and update must occur no less frequently than annually. (ii) With the prior written approval of the Board, a state member bank may generate an estimate of its operational risk exposure using an alternative approach to that specified in paragraph (g)(3)(i) of this section. A state member bank proposing to use such an alternative operational risk quantification system must submit a proposal to the Board. In determining whether to approve a state member bank's proposal to use an alternative operational risk quantification system, the Board will consider the following principles: (A) Use of the alternative operational risk quantification system will be allowed only on an exception basis, considering the size, complexity, and risk profile of the state member bank; (B) The state member bank must demonstrate that its estimate of its operational risk exposure generated under the alternative operational risk quantification system is appropriate and can be supported empirically; and (C) A state member bank must not use an allocation of operational risk capital requirements that includes entities other than depository institutions or the benefits of diversification across entities. (h) Data management and maintenance. (1) A Board-regulated institution must have data management and maintenance systems that adequately support all aspects of its advanced systems and the timely and accurate reporting of risk-based capital requirements. (2) A Board-regulated institution must retain data using an electronic format that allows timely retrieval of data for analysis, validation, reporting, and disclosure purposes. (3) A Board-regulated institution must retain sufficient data elements related to key risk drivers to permit adequate monitoring, validation, and refinement of its advanced systems. (i) Control, oversight, and validation mechanisms. (1) The Board- regulated institution's senior management must ensure that all components of the Board-regulated institution's advanced systems function effectively and comply with the qualification requirements in this section. (2) The Board-regulated institution's board of directors (or a designated committee of the board) must at least annually review the effectiveness of, and approve, the Board-regulated institution's advanced systems. (3) A Board-regulated institution must have an effective system of controls and oversight that: (i) Ensures ongoing compliance with the qualification requirements in this section; (ii) Maintains the integrity, reliability, and accuracy of the Board-regulated institution's advanced systems; and (iii) Includes adequate governance and project management processes. (4) The Board-regulated institution must validate, on an ongoing basis, its [[Page 526]] advanced systems. The Board-regulated institution's validation process must be independent of the advanced systems' development, implementation, and operation, or the validation process must be subjected to an independent review of its adequacy and effectiveness. Validation must include: (i) An evaluation of the conceptual soundness of (including developmental evidence supporting) the advanced systems; (ii) An ongoing monitoring process that includes verification of processes and benchmarking; and (iii) An outcomes analysis process that includes backtesting. (5) The Board-regulated institution must have an internal audit function or equivalent function that is independent of business-line management that at least annually: (i) Reviews the Board-regulated institution's advanced systems and associated operations, including the operations of its credit function and estimations of PD, LGD, and EAD; (ii) Assesses the effectiveness of the controls supporting the Board-regulated institution's advanced systems; and (iii) Documents and reports its findings to the Board-regulated institution's board of directors (or a committee thereof). (6) The Board-regulated institution must periodically stress test its advanced systems. The stress testing must include a consideration of how economic cycles, especially downturns, affect risk-based capital requirements (including migration across rating grades and segments and the credit risk mitigation benefits of double default treatment). (j) Documentation. The Board-regulated institution must adequately document all material aspects of its advanced systems. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013; 80 FR 41419, July 15, 2015] Sec. 217.123 Ongoing qualification. (a) Changes to advanced systems. A Board-regulated institution must meet all the qualification requirements in Sec. 217.122 on an ongoing basis. A Board-regulated institution must notify the Board when the Board-regulated institution makes any change to an advanced system that would result in a material change in the Board-regulated institution's advanced approaches total risk-weighted asset amount for an exposure type or when the Board-regulated institution makes any significant change to its modeling assumptions. (b) Failure to comply with qualification requirements. (1) If the Board determines that a Board-regulated institution that uses this subpart and that has conducted a satisfactory parallel run fails to comply with the qualification requirements in Sec. 217.122, the Board will notify the Board-regulated institution in writing of the Board- regulated institution's failure to comply. (2) The Board-regulated institution must establish and submit a plan satisfactory to the Board to return to compliance with the qualification requirements. (3) In addition, if the Board determines that the Board-regulated institution's advanced approaches total risk-weighted assets are not commensurate with the Board-regulated institution's credit, market, operational, or other risks, the Board may require such a Board- regulated institution to calculate its advanced approaches total risk- weighted assets with any modifications provided by the Board. Sec. 217.124 Merger and acquisition transitional arrangements. (a) Mergers and acquisitions of companies without advanced systems. If a Board-regulated institution merges with or acquires a company that does not calculate its risk-based capital requirements using advanced systems, the Board-regulated institution may use subpart D of this part to determine the risk-weighted asset amounts for the merged or acquired company's exposures for up to 24 months after the calendar quarter during which the merger or acquisition consummates. The Board may extend this transition period for up to an additional 12 months. Within 90 days of consummating the merger or acquisition, the Board-regulated institution must submit to the Board an implementation plan for using its advanced systems for [[Page 527]] the acquired company. During the period in which subpart D of this part applies to the merged or acquired company, any ALLL or AACL, as applicable, net of allocated transfer risk reserves established pursuant to 12 U.S.C. 3904, associated with the merged or acquired company's exposures may be included in the acquiring Board-regulated institution's tier 2 capital up to 1.25 percent of the acquired company's risk- weighted assets. All general allowances of the merged or acquired company must be excluded from the Board-regulated institution's eligible credit reserves. In addition, the risk-weighted assets of the merged or acquired company are not included in the Board-regulated institution's credit-risk-weighted assets but are included in total risk-weighted assets. If a Board-regulated institution relies on this paragraph (a), the Board-regulated institution must disclose publicly the amounts of risk-weighted assets and qualifying capital calculated under this subpart for the acquiring Board-regulated institution and under subpart D of this part for the acquired company. (b) Mergers and acquisitions of companies with advanced systems. (1) If a Board-regulated institution merges with or acquires a company that calculates its risk-based capital requirements using advanced systems, the Board-regulated institution may use the acquired company's advanced systems to determine total risk-weighted assets for the merged or acquired company's exposures for up to 24 months after the calendar quarter during which the acquisition or merger consummates. The Board may extend this transition period for up to an additional 12 months. Within 90 days of consummating the merger or acquisition, the Board- regulated institution must submit to the Board an implementation plan for using its advanced systems for the merged or acquired company. (2) If the acquiring Board-regulated institution is not subject to the advanced approaches in this subpart at the time of acquisition or merger, during the period when subpart D of this part applies to the acquiring Board-regulated institution, the ALLL or AACL, as applicable, associated with the exposures of the merged or acquired company may not be directly included in tier 2 capital. Rather, any excess eligible credit reserves associated with the merged or acquired company's exposures may be included in the Board-regulated institution's tier 2 capital up to 0.6 percent of the credit-risk-weighted assets associated with those exposures. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 84 FR 4242, Feb. 14, 2019] Sec. Sec. 217.125-217.130 [Reserved] Risk-Weighted Assets for General Credit Risk Sec. 217.131 Mechanics for calculating total wholesale and retail risk-weighted assets. (a) Overview. A Board-regulated institution must calculate its total wholesale and retail risk-weighted asset amount in four distinct phases: (1) Phase 1--categorization of exposures; (2) Phase 2--assignment of wholesale obligors and exposures to rating grades and segmentation of retail exposures; (3) Phase 3--assignment of risk parameters to wholesale exposures and segments of retail exposures; and (4) Phase 4--calculation of risk-weighted asset amounts. (b) Phase 1--Categorization. The Board-regulated institution must determine which of its exposures are wholesale exposures, retail exposures, securitization exposures, or equity exposures. The Board- regulated institution must categorize each retail exposure as a residential mortgage exposure, a QRE, or another retail exposure. The Board-regulated institution must identify which wholesale exposures are HVCRE exposures, sovereign exposures, OTC derivative contracts, repo- style transactions, eligible margin loans, eligible purchased wholesale exposures, cleared transactions, default fund contributions, and unsettled transactions to which Sec. 217.136 applies, and eligible guarantees or eligible credit derivatives that are used as credit risk mitigants. The Board-regulated institution must identify any on-balance sheet asset that does not meet the definition of a wholesale, retail, equity, or [[Page 528]] securitization exposure, any non-material portfolio of exposures described in paragraph (e)(4) of this section, and for bank holding companies and savings and loan holding companies, any on-balance sheet asset that is held in a non-guaranteed separate account. (c) Phase 2--Assignment of wholesale obligors and exposures to rating grades and retail exposures to segments--(1) Assignment of wholesale obligors and exposures to rating grades. (i) The Board-regulated institution must assign each obligor of a wholesale exposure to a single obligor rating grade and must assign each wholesale exposure to which it does not directly assign an LGD estimate to a loss severity rating grade. (ii) The Board-regulated institution must identify which of its wholesale obligors are in default. (2) Segmentation of retail exposures. (i) The Board-regulated institution must group the retail exposures in each retail subcategory into segments that have homogeneous risk characteristics. (ii) The Board-regulated institution must identify which of its retail exposures are in default. The Board-regulated institution must segment defaulted retail exposures separately from non-defaulted retail exposures. (iii) If the Board-regulated institution determines the EAD for eligible margin loans using the approach in Sec. 217.132(b), the Board- regulated institution must identify which of its retail exposures are eligible margin loans for which the Board-regulated institution uses this EAD approach and must segment such eligible margin loans separately from other retail exposures. (3) Eligible purchased wholesale exposures. A Board-regulated institution may group its eligible purchased wholesale exposures into segments that have homogeneous risk characteristics. A Board-regulated institution must use the wholesale exposure formula in Table 1 of this section to determine the risk-based capital requirement for each segment of eligible purchased wholesale exposures. (d) Phase 3--Assignment of risk parameters to wholesale exposures and segments of retail exposures--(1) Quantification process. Subject to the limitations in this paragraph (d), the Board-regulated institution must: (i) Associate a PD with each wholesale obligor rating grade; (ii) Associate an LGD with each wholesale loss severity rating grade or assign an LGD to each wholesale exposure; (iii) Assign an EAD and M to each wholesale exposure; and (iv) Assign a PD, LGD, and EAD to each segment of retail exposures. (2) Floor on PD assignment. The PD for each wholesale obligor or retail segment may not be less than 0.03 percent, except for exposures to or directly and unconditionally guaranteed by a sovereign entity, the Bank for International Settlements, the International Monetary Fund, the European Commission, the European Central Bank, the European Stability Mechanism, the European Financial Stability Facility, or a multilateral development bank, to which the Board-regulated institution assigns a rating grade associated with a PD of less than 0.03 percent. (3) Floor on LGD estimation. The LGD for each segment of residential mortgage exposures may not be less than 10 percent, except for segments of residential mortgage exposures for which all or substantially all of the principal of each exposure is either: (i) Directly and unconditionally guaranteed by the full faith and credit of a sovereign entity; or (ii) Guaranteed by a contingent obligation of the U.S. government or its agencies, the enforceability of which is dependent upon some affirmative action on the part of the beneficiary of the guarantee or a third party (for example, meeting servicing requirements). (4) Eligible purchased wholesale exposures. A Board-regulated institution must assign a PD, LGD, EAD, and M to each segment of eligible purchased wholesale exposures. If the Board-regulated institution can estimate ECL (but not PD or LGD) for a segment of eligible purchased wholesale exposures, the Board-regulated institution must assume that the LGD of the segment equals 100 percent and that the PD of the segment equals ECL divided by [[Page 529]] EAD. The estimated ECL must be calculated for the exposures without regard to any assumption of recourse or guarantees from the seller or other parties. (5) Credit risk mitigation: credit derivatives, guarantees, and collateral. (i) A Board-regulated institution may take into account the risk reducing effects of eligible guarantees and eligible credit derivatives in support of a wholesale exposure by applying the PD substitution or LGD adjustment treatment to the exposure as provided in Sec. 217.134 or, if applicable, applying double default treatment to the exposure as provided in Sec. 217.135. A Board-regulated institution may decide separately for each wholesale exposure that qualifies for the double default treatment under Sec. 217.135 whether to apply the double default treatment or to use the PD substitution or LGD adjustment treatment without recognizing double default effects. (ii) A Board-regulated institution may take into account the risk reducing effects of guarantees and credit derivatives in support of retail exposures in a segment when quantifying the PD and LGD of the segment. In doing so, a Board-regulated institution must consider all relevant available information. (iii) Except as provided in paragraph (d)(6) of this section, a Board-regulated institution may take into account the risk reducing effects of collateral in support of a wholesale exposure when quantifying the LGD of the exposure, and may take into account the risk reducing effects of collateral in support of retail exposures when quantifying the PD and LGD of the segment. In order to do so, a Board- regulated institution must have established internal requirements for collateral management, legal certainty, and risk management processes. (6) EAD for OTC derivative contracts, repo-style transactions, and eligible margin loans. A Board-regulated institution must calculate its EAD for an OTC derivative contract as provided in Sec. 217.132 (c) and (d). A Board-regulated institution may take into account the risk- reducing effects of financial collateral in support of a repo-style transaction or eligible margin loan and of any collateral in support of a repo-style transaction that is included in the Board-regulated institution's VaR-based measure under subpart F of this part through an adjustment to EAD as provided in Sec. 217.132(b) and (d). A Board- regulated institution that takes collateral into account through such an adjustment to EAD under Sec. 217.132 may not reflect such collateral in LGD. (7) Effective maturity. An exposure's M must be no greater than five years and no less than one year, except that an exposure's M must be no less than one day if the exposure is a trade related letter of credit, or if the exposure has an original maturity of less than one year and is not part of a Board-regulated institution's ongoing financing of the obligor. An exposure is not part of a Board-regulated institution's ongoing financing of the obligor if the Board-regulated institution: (i) Has a legal and practical ability not to renew or roll over the exposure in the event of credit deterioration of the obligor; (ii) Makes an independent credit decision at the inception of the exposure and at every renewal or roll over; and (iii) Has no substantial commercial incentive to continue its credit relationship with the obligor in the event of credit deterioration of the obligor. (8) EAD for exposures to certain central counterparties. A Board- regulated institution may attribute an EAD of zero to exposures that arise from the settlement of cash transactions (such as equities, fixed income, spot foreign exchange, and spot commodities) with a central counterparty where there is no assumption of ongoing counterparty credit risk by the central counterparty after settlement of the trade and associated default fund contributions. (e) Phase 4--Calculation of risk-weighted assets--(1) Non-defaulted exposures. (i) A Board-regulated institution must calculate the dollar risk-based capital requirement for each of its wholesale exposures to a non-defaulted obligor (except for eligible guarantees and eligible credit derivatives that hedge another wholesale exposure, IMM exposures, cleared transactions, default fund contributions, unsettled transactions, and exposures to which the Board-regulated institution applies the [[Page 530]] double default treatment in Sec. 217.135) and segments of non-defaulted retail exposures by inserting the assigned risk parameters for the wholesale obligor and exposure or retail segment into the appropriate risk-based capital formula specified in Table 1 and multiplying the output of the formula (K) by the EAD of the exposure or segment. Alternatively, a Board-regulated institution may apply a 300 percent risk weight to the EAD of an eligible margin loan if the Board-regulated institution is not able to meet the Board's requirements for estimation of PD and LGD for the margin loan. [GRAPHIC] [TIFF OMITTED] TR11OC13.028 [[Page 531]] [GRAPHIC] [TIFF OMITTED] TR11OC13.029 (ii) The sum of all the dollar risk-based capital requirements for each wholesale exposure to a non-defaulted obligor and segment of non- defaulted retail exposures calculated in paragraph (e)(1)(i) of this section and in Sec. 217.135(e) equals the total dollar risk-based capital requirement for those exposures and segments. (iii) The aggregate risk-weighted asset amount for wholesale exposures to non-defaulted obligors and segments of non-defaulted retail exposures equals the total dollar risk-based capital requirement in paragraph (e)(1)(ii) of this section multiplied by 12.5. (2) Wholesale exposures to defaulted obligors and segments of defaulted retail exposures--(i) Not covered by an eligible U.S. government guarantee: The dollar risk-based capital requirement for each wholesale exposure not covered by an eligible guarantee from the U.S. government to a defaulted obligor and each segment of defaulted retail exposures not covered by an eligible guarantee from the U.S. government equals 0.08 multiplied by the EAD of the exposure or segment. (ii) Covered by an eligible U.S. government guarantee: The dollar risk-based capital requirement for each wholesale exposure to a defaulted obligor covered by an eligible guarantee from the U.S. government and each segment of defaulted retail exposures covered by an eligible guarantee from the U.S. government equals the sum of: [[Page 532]] (A) The sum of the EAD of the portion of each wholesale exposure to a defaulted obligor covered by an eligible guarantee from the U.S. government plus the EAD of the portion of each segment of defaulted retail exposures that is covered by an eligible guarantee from the U.S. government and the resulting sum is multiplied by 0.016, and (B) The sum of the EAD of the portion of each wholesale exposure to a defaulted obligor not covered by an eligible guarantee from the U.S. government plus the EAD of the portion of each segment of defaulted retail exposures that is not covered by an eligible guarantee from the U.S. government and the resulting sum is multiplied by 0.08. (iii) The sum of all the dollar risk-based capital requirements for each wholesale exposure to a defaulted obligor and each segment of defaulted retail exposures calculated in paragraph (e)(2)(i) of this section plus the dollar risk-based capital requirements each wholesale exposure to a defaulted obligor and for each segment of defaulted retail exposures calculated in paragraph (e)(2)(ii) of this section equals the total dollar risk-based capital requirement for those exposures and segments. (iv) The aggregate risk-weighted asset amount for wholesale exposures to defaulted obligors and segments of defaulted retail exposures equals the total dollar risk-based capital requirement calculated in paragraph (e)(2)(iii) of this section multiplied by 12.5. (3) Assets not included in a defined exposure category. (i) A bank holding company or savings and loan holding company may assign a risk- weighted asset amount of zero to cash owned and held in all offices of subsidiary depository institutions or in transit; and for gold bullion held in a subsidiary depository institution's own vaults, or held in another depository institution's vaults on an allocated basis, to the extent the gold bullion assets are offset by gold bullion liabilities. (ii) A state member bank may assign a risk-weighted asset amount to cash owned and held in all offices of the state member bank or in transit and for gold bullion held in the state member bank's own vaults, or held in another depository institution's vaults on an allocated basis, to the extent the gold bullion assets are offset by gold bullion liabilities. (iii) A Board-regulated institution must assign a risk-weighted asset amount equal to 50 percent of the carrying value to a pre-sold construction loan unless the purchase contract is cancelled, in which case a Board-regulated institution must assign a risk-weighted asset amount equal to a 100 percent of the carrying value of the pre-sold construction loan. (iv) The risk-weighted asset amount for the residual value of a retail lease exposure equals such residual value. (v) The risk-weighted asset amount for DTAs arising from temporary differences that the Board-regulated institution could realize through net operating loss carrybacks equals the carrying value, netted in accordance with Sec. 217.22. (vi) The risk-weighted asset amount for MSAs, DTAs arising from temporary timing differences that the Board-regulated institution could not realize through net operating loss carrybacks, and significant investments in the capital of unconsolidated financial institutions in the form of common stock that are not deducted pursuant to Sec. 217.22(d) equals the amount not subject to deduction multiplied by 250 percent. (vii) The risk-weighted asset amount for any other on-balance-sheet asset that does not meet the definition of a wholesale, retail, securitization, IMM, or equity exposure, cleared transaction, or default fund contribution and is not subject to deduction under Sec. 217.22(a), (c), or (d) equals the carrying value of the asset. (viii) The risk-weighted asset amount for a Paycheck Protection Program covered loan as defined in section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) equals zero. (4) Non-material portfolios of exposures. The risk-weighted asset amount of a portfolio of exposures for which the Board-regulated institution has demonstrated to the Board's satisfaction that the portfolio (when combined with all other portfolios of exposures that the Board-regulated institution seeks to treat under this paragraph (e)) is not [[Page 533]] material to the Board-regulated institution is the sum of the carrying values of on-balance sheet exposures plus the notional amounts of off- balance sheet exposures in the portfolio. For purposes of this paragraph (e)(4), the notional amount of an OTC derivative contract that is not a credit derivative is the EAD of the derivative as calculated in Sec. 217.132. (5) Assets held in non-guaranteed separate accounts. The risk- weighted asset amount for an on-balance sheet asset that is held in a non-guaranteed separate account is zero percent of the carrying value of the asset. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013; 80 FR 41420, July 15, 2015; 84 FR 35268, July 22, 2019; 85 FR 20393, Apr. 13, 2020] Sec. 217.132 Counterparty credit risk of repo-style transactions, eligible margin loans, and OTC derivative contracts. (a) Methodologies for collateral recognition. (1) Instead of an LGD estimation methodology, a Board-regulated institution may use the following methodologies to recognize the benefits of financial collateral in mitigating the counterparty credit risk of repo-style transactions, eligible margin loans, collateralized OTC derivative contracts and single product netting sets of such transactions, and to recognize the benefits of any collateral in mitigating the counterparty credit risk of repo-style transactions that are included in a Board- regulated institution's VaR-based measure under subpart F of this part: (i) The collateral haircut approach set forth in paragraph (b)(2) of this section; (ii) The internal models methodology set forth in paragraph (d) of this section; and (iii) For single product netting sets of repo-style transactions and eligible margin loans, the simple VaR methodology set forth in paragraph (b)(3) of this section. (2) A Board-regulated institution may use any combination of the three methodologies for collateral recognition; however, it must use the same methodology for transactions in the same category. (3) A Board-regulated institution must use the methodology in paragraph (c) of this section, or with prior written approval of the Board, the internal model methodology in paragraph (d) of this section, to calculate EAD for an OTC derivative contract or a set of OTC derivative contracts subject to a qualifying master netting agreement. To estimate EAD for qualifying cross-product master netting agreements, a Board-regulated institution may only use the internal models methodology in paragraph (d) of this section. (4) A Board-regulated institution must also use the methodology in paragraph (e) of this section to calculate the risk-weighted asset amounts for CVA for OTC derivatives. (b) EAD for eligible margin loans and repo-style transactions--(1) General. A Board-regulated institution may recognize the credit risk mitigation benefits of financial collateral that secures an eligible margin loan, repo-style transaction, or single-product netting set of such transactions by factoring the collateral into its LGD estimates for the exposure. Alternatively, a Board-regulated institution may estimate an unsecured LGD for the exposure, as well as for any repo-style transaction that is included in the Board-regulated institution's VaR- based measure under subpart F of this part, and determine the EAD of the exposure using: (i) The collateral haircut approach described in paragraph (b)(2) of this section; (ii) For netting sets only, the simple VaR methodology described in paragraph (b)(3) of this section; or (iii) The internal models methodology described in paragraph (d) of this section. (2) Collateral haircut approach--(i) EAD equation. A Board-regulated institution may determine EAD for an eligible margin loan, repo-style transaction, or netting set by setting EAD equal to max {0, [([Sigma]E - [Sigma]C) + [Sigma](Es x Hs) + [Sigma](Efx x Hfx)]{time} , where: (A) [Sigma]E equals the value of the exposure (the sum of the current fair values of all instruments, gold, and cash the [[Page 534]] Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty under the transaction (or netting set)); (B) [Sigma]C equals the value of the collateral (the sum of the current fair values of all instruments, gold, and cash the Board- regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty under the transaction (or netting set)); (C) Es equals the absolute value of the net position in a given instrument or in gold (where the net position in a given instrument or in gold equals the sum of the current fair values of the instrument or gold the Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty minus the sum of the current fair values of that same instrument or gold the Board-regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty); (D) Hs equals the market price volatility haircut appropriate to the instrument or gold referenced in Es; (E) Efx equals the absolute value of the net position of instruments and cash in a currency that is different from the settlement currency (where the net position in a given currency equals the sum of the current fair values of any instruments or cash in the currency the Board-regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty minus the sum of the current fair values of any instruments or cash in the currency the Board- regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty); and (F) Hfx equals the haircut appropriate to the mismatch between the currency referenced in Efx and the settlement currency. (ii) Standard supervisory haircuts. (A) Under the standard supervisory haircuts approach: (1) A Board-regulated institution must use the haircuts for market price volatility (Hs) in Table 1 to Sec. 217.132, as adjusted in certain circumstances as provided in paragraphs (b)(2)(ii)(A)(3) and (4) of Sec. 217.132; Table 1 to Sec. 217.132--Standard Supervisory Market Price Volatility Haircuts \1\ -------------------------------------------------------------------------------------------------------------------------------------------------------- Haircut (in percent) assigned based on: ------------------------------------------------------------------------------ Investment Sovereign issuers risk weight under Non-sovereign issuers risk weight grade Residual maturity Sec. 217.132 \2\ (in percent) under Sec. 217.132 (in percent) securitization ------------------------------------------------------------------------------ exposures (in Zero 20 or 50 100 20 50 100 percent) -------------------------------------------------------------------------------------------------------------------------------------------------------- Less than or equal to 1 year.............................. 0.5 1.0 15.0 1.0 2.0 4.0 4.0 Greater than 1 year and less than or equal to 5 years..... 2.0 3.0 15.0 4.0 6.0 8.0 12.0 Greater than 5 years...................................... 4.0 6.0 15.0 8.0 12.0 16.0 24.0 -------------------------------------------------------------------------------------------------------------------------------------------------------- Main index equities (including convertible bonds) and gold.........................15.0.......... -------------------------------------------------------------------------------------------------------------------------------------------------------- Other publicly traded equities (including convertible bonds).......................25.0.......... -------------------------------------------------------------------------------------------------------------------------------------------------------- Mutual funds...................................................Highest haircut applicable to any security in which the fund can invest. -------------------------------------------------------------------------------------------------------------------------------------------------------- Cash collateral held...............................................................Zero.......... -------------------------------------------------------------------------------------------------------------------------------------------------------- Other exposure types...............................................................25.0 ......... -------------------------------------------------------------------------------------------------------------------------------------------------------- \1\ The market price volatility haircuts in Table 1 to Sec. 217.132 are based on a 10 business-day holding period. \2\ Includes a foreign PSE that receives a zero percent risk weight. (2) For currency mismatches, a Board-regulated institution must use a haircut for foreign exchange rate volatility (Hfx) of 8 percent, as adjusted in certain circumstances as provided in paragraphs (b)(2)(ii)(A)(3) and (4) of this section. (3) For repo-style transactions and client-facing derivative transactions, a [[Page 535]] Board-regulated institution may multiply the supervisory haircuts provided in paragraphs (b)(2)(ii)(A)(1) and (2) of this section by the square root of \1/2\ (which equals 0.707107). If the Board-regulated institution determines that a longer holding period is appropriate for client-facing derivative transactions, then it must use a larger scaling factor to adjust for the longer holding period pursuant to paragraph (b)(2)(ii)(A)(6) of this section. (4) A Board-regulated institution must adjust the supervisory haircuts upward on the basis of a holding period longer than ten business days (for eligible margin loans) or five business days (for repo-style transactions), using the formula provided in paragraph (b)(2)(ii)(A)(6) of this section where the conditions in this paragraph (b)(2)(ii)(A)(4) apply. If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must adjust the supervisory haircuts upward on the basis of a minimum holding period of twenty business days for the following quarter (except when a Board-regulated institution is calculating EAD for a cleared transaction under Sec. 217.133). If a netting set contains one or more trades involving illiquid collateral, a Board-regulated institution must adjust the supervisory haircuts upward on the basis of a minimum holding period of twenty business days. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted longer than the holding period, then the Board-regulated institution must adjust the supervisory haircuts upward for that netting set on the basis of a minimum holding period that is at least two times the minimum holding period for that netting set. (5)(i) A Board-regulated institution must adjust the supervisory haircuts upward on the basis of a holding period longer than ten business days for collateral associated with derivative contracts (five business days for client-facing derivative contracts) using the formula provided in paragraph (b)(2)(ii)(A)(6) of this section where the conditions in this paragraph (b)(2)(ii)(A)(5)(i) apply. For collateral associated with a derivative contract that is within a netting set that is composed of more than 5,000 derivative contracts that are not cleared transactions, a Board-regulated institution must use a minimum holding period of twenty business days. If a netting set contains one or more trades involving illiquid collateral or a derivative contract that cannot be easily replaced, a Board-regulated institution must use a minimum holding period of twenty business days. (ii) Notwithstanding paragraph (b)(2)(ii)(A)(1) or (3) or (b)(2)(ii)(A)(5)(i) of this section, for collateral associated with a derivative contract in a netting set under which more than two margin disputes that lasted longer than the holding period occurred during the two previous quarters, the minimum holding period is twice the amount provided under paragraph (b)(2)(ii)(A)(1) or (3) or (b)(2)(ii)(A)(5)(i) of this section. (6) A Board-regulated institution must adjust the standard supervisory haircuts upward, pursuant to the adjustments provided in paragraphs (b)(2)(ii)(A)(3) through (5) of this section, using the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.025 Where: TM equals a holding period of longer than 10 business days for eligible margin loans and derivative contracts other than client-facing derivative transactions or longer than 5 business days for repo-style transactions and client-facing derivative transactions; Hs equals the standard supervisory haircut; and Ts equals 10 business days for eligible margin loans and derivative contracts other than client-facing derivative transactions or 5 business days for repo-style transactions and client-facing derivative transactions. (7) If the instrument a Board-regulated institution has lent, sold subject to repurchase, or posted as collateral does not meet the definition of financial collateral, the Board-regulated institution must use a 25.0 percent haircut for market price volatility (Hs). (iii) Own internal estimates for haircuts. With the prior written approval of the Board, a Board-regulated institution may calculate haircuts (Hs and [[Page 536]] Hfx) using its own internal estimates of the volatilities of market prices and foreign exchange rates. (A) To receive Board approval to use its own internal estimates, a Board-regulated institution must satisfy the following minimum quantitative standards: (1) A Board-regulated institution must use a 99th percentile one- tailed confidence interval. (2) The minimum holding period for a repo-style transaction is five business days and for an eligible margin loan is ten business days except for transactions or netting sets for which paragraph (b)(2)(iii)(A)(3) of this section applies. When a Board-regulated institution calculates an own-estimates haircut on a TN-day holding period, which is different from the minimum holding period for the transaction type, the applicable haircut (HM) is calculated using the following square root of time formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.031 (i) TM equals 5 for repo-style transactions and 10 for eligible margin loans; (ii) TN equals the holding period used by the Board- regulated institution to derive HN; and (iii) HN equals the haircut based on the holding period TN (3) If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must calculate the haircut using a minimum holding period of twenty business days for the following quarter (except when a Board-regulated institution is calculating EAD for a cleared transaction under Sec. 217.133). If a netting set contains one or more trades involving illiquid collateral or an OTC derivative that cannot be easily replaced, a Board-regulated institution must calculate the haircut using a minimum holding period of twenty business days. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the holding period, then the Board-regulated institution must calculate the haircut for transactions in that netting set on the basis of a holding period that is at least two times the minimum holding period for that netting set. (4) A Board-regulated institution is required to calculate its own internal estimates with inputs calibrated to historical data from a continuous 12-month period that reflects a period of significant financial stress appropriate to the security or category of securities. (5) A Board-regulated institution must have policies and procedures that describe how it determines the period of significant financial stress used to calculate the Board-regulated institution's own internal estimates for haircuts under this section and must be able to provide empirical support for the period used. The Board-regulated institution must obtain the prior approval of the Board for, and notify the Board if the Board-regulated institution makes any material changes to, these policies and procedures. (6) Nothing in this section prevents the Board from requiring a Board-regulated institution to use a different period of significant financial stress in the calculation of own internal estimates for haircuts. (7) A Board-regulated institution must update its data sets and calculate haircuts no less frequently than quarterly and must also reassess data sets and haircuts whenever market prices change materially. (B) With respect to debt securities that are investment grade, a Board-regulated institution may calculate haircuts for categories of securities. For a category of securities, the Board-regulated institution must calculate the haircut on the basis of internal volatility estimates for securities in that category that are representative of the securities in that category that the Board- regulated institution has lent, sold subject to repurchase, posted as collateral, borrowed, purchased subject to resale, or taken as collateral. In determining relevant categories, the Board-regulated institution must at a minimum take into account: (1) The type of issuer of the security; (2) The credit quality of the security; (3) The maturity of the security; and [[Page 537]] (4) The interest rate sensitivity of the security. (C) With respect to debt securities that are not investment grade and equity securities, a Board-regulated institution must calculate a separate haircut for each individual security. (D) Where an exposure or collateral (whether in the form of cash or securities) is denominated in a currency that differs from the settlement currency, the Board-regulated institution must calculate a separate currency mismatch haircut for its net position in each mismatched currency based on estimated volatilities of foreign exchange rates between the mismatched currency and the settlement currency. (E) A Board-regulated institution's own estimates of market price and foreign exchange rate volatilities may not take into account the correlations among securities and foreign exchange rates on either the exposure or collateral side of a transaction (or netting set) or the correlations among securities and foreign exchange rates between the exposure and collateral sides of the transaction (or netting set). (3) Simple VaR methodology. With the prior written approval of the Board, a Board-regulated institution may estimate EAD for a netting set using a VaR model that meets the requirements in paragraph (b)(3)(iii) of this section. In such event, the Board-regulated institution must set EAD equal to max {0, [([Sigma]E - [Sigma]C) + PFE]{time} , where: (i) [Sigma]E equals the value of the exposure (the sum of the current fair values of all instruments, gold, and cash the Board- regulated institution has lent, sold subject to repurchase, or posted as collateral to the counterparty under the netting set); (ii) [Sigma]C equals the value of the collateral (the sum of the current fair values of all instruments, gold, and cash the Board- regulated institution has borrowed, purchased subject to resale, or taken as collateral from the counterparty under the netting set); and (iii) PFE (potential future exposure) equals the Board-regulated institution's empirically based best estimate of the 99th percentile, one-tailed confidence interval for an increase in the value of ([Sigma]E - [Sigma]C) over a five-business-day holding period for repo-style transactions, or over a ten-business-day holding period for eligible margin loans except for netting sets for which paragraph (b)(3)(iv) of this section applies using a minimum one-year historical observation period of price data representing the instruments that the Board- regulated institution has lent, sold subject to repurchase, posted as collateral, borrowed, purchased subject to resale, or taken as collateral. The Board-regulated institution must validate its VaR model by establishing and maintaining a rigorous and regular backtesting regime. (iv) If the number of trades in a netting set exceeds 5,000 at any time during a quarter, a Board-regulated institution must use a twenty- business-day holding period for the following quarter (except when a Board-regulated institution is calculating EAD for a cleared transaction under Sec. 217.133). If a netting set contains one or more trades involving illiquid collateral, a Board-regulated institution must use a twenty-business-day holding period. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the holding period, then the Board-regulated institution must set its PFE for that netting set equal to an estimate over a holding period that is at least two times the minimum holding period for that netting set. (c) EAD for derivative contracts--(1) Options for determining EAD. A Board-regulated institution must determine the EAD for a derivative contract using the standardized approach for counterparty credit risk (SA-CCR) under paragraph (c)(5) of this section or using the internal models methodology described in paragraph (d) of this section. If a Board-regulated institution elects to use SA-CCR for one or more derivative contracts, the exposure amount determined under SA-CCR is the EAD for the derivative contract or derivatives contracts. A Board- regulation institution must use the same methodology to calculate the exposure amount for all its derivative contracts and may change its election only with prior approval of the Board. A Board-regulated institution may reduce the EAD calculated according to paragraph [[Page 538]] (c)(5) of this section by the credit valuation adjustment that the Board-regulated institution has recognized in its balance sheet valuation of any derivative contracts in the netting set. For purposes of this paragraph (c)(1), the credit valuation adjustment does not include any adjustments to common equity tier 1 capital attributable to changes in the fair value of the Board-regulated institution's liabilities that are due to changes in its own credit risk since the inception of the transaction with the counterparty. (2) Definitions. For purposes of this paragraph (c) of this section, the following definitions apply: (i) End date means the last date of the period referenced by an interest rate or credit derivative contract or, if the derivative contract references another instrument, by the underlying instrument, except as otherwise provided in paragraph (c) of this section. (ii) Start date means the first date of the period referenced by an interest rate or credit derivative contract or, if the derivative contract references the value of another instrument, by underlying instrument, except as otherwise provided in paragraph (c) of this section. (iii) Hedging set means: (A) With respect to interest rate derivative contracts, all such contracts within a netting set that reference the same reference currency; (B) With respect to exchange rate derivative contracts, all such contracts within a netting set that reference the same currency pair; (C) With respect to credit derivative contract, all such contracts within a netting set; (D) With respect to equity derivative contracts, all such contracts within a netting set; (E) With respect to a commodity derivative contract, all such contracts within a netting set that reference one of the following commodity categories: Energy, metal, agricultural, or other commodities; (F) With respect to basis derivative contracts, all such contracts within a netting set that reference the same pair of risk factors and are denominated in the same currency; or (G) With respect to volatility derivative contracts, all such contracts within a netting set that reference one of interest rate, exchange rate, credit, equity, or commodity risk factors, separated according to the requirements under paragraphs (c)(2)(iii)(A) through (E) of this section. (H) If the risk of a derivative contract materially depends on more than one of interest rate, exchange rate, credit, equity, or commodity risk factors, the Board may require a Board-regulated institution to include the derivative contract in each appropriate hedging set under paragraphs (c)(1)(iii)(A) through (E) of this section. (3) Credit derivatives. Notwithstanding paragraphs (c)(1) and (c)(2) of this section: (i) A Board-regulated institution that purchases a credit derivative that is recognized under Sec. 217.134 or Sec. 217.135 as a credit risk mitigant for an exposure that is not a covered position under subpart F of this part is not required to calculate a separate counterparty credit risk capital requirement under this section so long as the Board- regulated institution does so consistently for all such credit derivatives and either includes or excludes all such credit derivatives that are subject to a master netting agreement from any measure used to determine counterparty credit risk exposure to all relevant counterparties for risk-based capital purposes. (ii) A Board-regulated institution that is the protection provider in a credit derivative must treat the credit derivative as a wholesale exposure to the reference obligor and is not required to calculate a counterparty credit risk capital requirement for the credit derivative under this section, so long as it does so consistently for all such credit derivatives and either includes all or excludes all such credit derivatives that are subject to a master netting agreement from any measure used to determine counterparty credit risk exposure to all relevant counterparties for risk-based capital purposes (unless the Board-regulated institution is treating the credit derivative as a covered position under subpart F of this part, in which case the Board- regulated institution must calculate a supplemental counterparty [[Page 539]] credit risk capital requirement under this section). (4) Equity derivatives. A Board-regulated institution must treat an equity derivative contract as an equity exposure and compute a risk- weighted asset amount for the equity derivative contract under Sec. Sec. 217.151-217.155 (unless the Board-regulated institution is treating the contract as a covered position under subpart F of this part). In addition, if the Board-regulated institution is treating the contract as a covered position under subpart F of this part, and under certain other circumstances described in Sec. 217.155, the Board- regulated institution must also calculate a risk-based capital requirement for the counterparty credit risk of an equity derivative contract under this section. (5) Exposure amount. (i) The exposure amount of a netting set, as calculated under paragraph (c) of this section, is equal to 1.4 multiplied by the sum of the replacement cost of the netting set, as calculated under paragraph (c)(6) of this section, and the potential future exposure of the netting set, as calculated under paragraph (c)(7) of this section. (ii) Notwithstanding the requirements of paragraph (c)(5)(i) of this section, the exposure amount of a netting set subject to a variation margin agreement, excluding a netting set that is subject to a variation margin agreement under which the counterparty to the variation margin agreement is not required to post variation margin, is equal to the lesser of the exposure amount of the netting set calculated under paragraph (c)(5)(i) of this section and the exposure amount of the netting set calculated under paragraph (c)(5)(i) of this section as if the netting set were not subject to a variation margin agreement. (iii) Notwithstanding the requirements of paragraph (c)(5)(i) of this section, the exposure amount of a netting set that consists of only sold options in which the premiums have been fully paid by the counterparty to the options and where the options are not subject to a variation margin agreement is zero. (iv) Notwithstanding the requirements of paragraph (c)(5)(i) of this section, the exposure amount of a netting set in which the counterparty is a commercial end-user is equal to the sum of replacement cost, as calculated under paragraph (c)(6) of this section, and the potential future exposure of the netting set, as calculated under paragraph (c)(7) of this section. (v) For purposes of the exposure amount calculated under paragraph (c)(5)(i) of this section and all calculations that are part of that exposure amount, a Board-regulated institution may elect to treat a derivative contract that is a cleared transaction that is not subject to a variation margin agreement as one that is subject to a variation margin agreement, if the derivative contract is subject to a requirement that the counterparties make daily cash payments to each other to account for changes in the fair value of the derivative contract and to reduce the net position of the contract to zero. If a Board-regulated institution makes an election under this paragraph (c)(5)(v) for one derivative contract, it must treat all other derivative contracts within the same netting set that are eligible for an election under this paragraph (c)(5)(v) as derivative contracts that are subject to a variation margin agreement. (vi) For purposes of the exposure amount calculated under paragraph (c)(5)(i) of this section and all calculations that are part of that exposure amount, a Board-regulated institution may elect to treat a credit derivative contract, equity derivative contract, or commodity derivative contract that references an index as if it were multiple derivative contracts each referencing one component of the index. (6) Replacement cost of a netting set--(i) Netting set subject to a variation margin agreement under which the counterparty must post variation margin. The replacement cost of a netting set subject to a variation margin agreement, excluding a netting set that is subject to a variation margin agreement under which the counterparty is not required to post variation margin, is the greater of: (A) The sum of the fair values (after excluding any valuation adjustments) of the derivative contracts within the netting set less the sum of the net independent collateral amount and the [[Page 540]] variation margin amount applicable to such derivative contracts; (B) The sum of the variation margin threshold and the minimum transfer amount applicable to the derivative contracts within the netting set less the net independent collateral amount applicable to such derivative contracts; or (C) Zero. (ii) Netting sets not subject to a variation margin agreement under which the counterparty must post variation margin. The replacement cost of a netting set that is not subject to a variation margin agreement under which the counterparty must post variation margin to the Board- regulated institution is the greater of: (A) The sum of the fair values (after excluding any valuation adjustments) of the derivative contracts within the netting set less the sum of the net independent collateral amount and variation margin amount applicable to such derivative contracts; or (B) Zero. (iii) Multiple netting sets subject to a single variation margin agreement. Notwithstanding paragraphs (c)(6)(i) and (ii) of this section, the replacement cost for multiple netting sets subject to a single variation margin agreement must be calculated according to paragraph (c)(10)(i) of this section. (iv) Netting set subject to multiple variation margin agreements or a hybrid netting set. Notwithstanding paragraphs (c)(6)(i) and (ii) of this section, the replacement cost for a netting set subject to multiple variation margin agreements or a hybrid netting set must be calculated according to paragraph (c)(11)(i) of this section. (7) Potential future exposure of a netting set. The potential future exposure of a netting set is the product of the PFE multiplier and the aggregated amount. (i) PFE multiplier. The PFE multiplier is calculated according to the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.026 Where: V is the sum of the fair values (after excluding any valuation adjustments) of the derivative contracts within the netting set; C is the sum of the net independent collateral amount and the variation margin amount applicable to the derivative contracts within the netting set; and A is the aggregated amount of the netting set. (ii) Aggregated amount. The aggregated amount is the sum of all hedging set amounts, as calculated under paragraph (c)(8) of this section, within a netting set. (iii) Multiple netting sets subject to a single variation margin agreement. Notwithstanding paragraphs (c)(7)(i) and (ii) of this section and when calculating the potential future exposure for purposes of total leverage exposure under Sec. 217.10(c)(2)(ii)(B), the potential future exposure for multiple netting sets subject to a single variation margin agreement must be calculated according to paragraph (c)(10)(ii) of this section. (iv) Netting set subject to multiple variation margin agreements or a hybrid netting set. Notwithstanding paragraphs (c)(7)(i) and (ii) of this section and when calculating the potential future exposure for purposes of total leverage exposure under Sec. 217.10(c)(2)(ii)(B), the potential future exposure for a netting set subject to multiple variation margin agreements or a hybrid netting set must be calculated according to paragraph (c)(11)(ii) of this section. (8) Hedging set amount--(i) Interest rate derivative contracts. To calculate the hedging set amount of an interest rate derivative contract hedging set, a Board-regulated institution may use either of the formulas provided in paragraphs (c)(8)(i)(A) and (B) of this section: (A) Formula 1 is as follows: [[Page 541]] [GRAPHIC] [TIFF OMITTED] TR24JA20.027 (B) Formula 2 is as follows: Hedging set amount = [verbar]AddOnIRTB1[verbar] + [verbar]AddOnIRTB2[verbar] + [verbar]AddOnIRTB3[verbar]. Where in paragraphs (c)(8)(i)(A) and (B) of this section: AddOnIRTB1 is the sum of the adjusted derivative contract amounts, as calculated under paragraph (c)(9) of this section, within the hedging set with an end date of less than one year from the present date; AddOnIRTB2 is the sum of the adjusted derivative contract amounts, as calculated under paragraph (c)(9) of this section, within the hedging set with an end date of one to five years from the present date; and AddOnIRTB3 is the sum of the adjusted derivative contract amounts, as calculated under paragraph (c)(9) of this section, within the hedging set with an end date of more than five years from the present date. (ii) Exchange rate derivative contracts. For an exchange rate derivative contract hedging set, the hedging set amount equals the absolute value of the sum of the adjusted derivative contract amounts, as calculated under paragraph (c)(9) of this section, within the hedging set. (iii) Credit derivative contracts and equity derivative contracts. The hedging set amount of a credit derivative contract hedging set or equity derivative contract hedging set within a netting set is calculated according to the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.028 Where: k is each reference entity within the hedging set. K is the number of reference entities within the hedging set. AddOn(Refk) equals the sum of the adjusted derivative contract amounts, as determined under paragraph (c)(9) of this section, for all derivative contracts within the hedging set that reference reference entity k. [rho]k equals the applicable supervisory correlation factor, as provided in Table 3 to this section. (iv) Commodity derivative contracts. The hedging set amount of a commodity derivative contract hedging set within a netting set is calculated according to the following formula: [[Page 542]] [GRAPHIC] [TIFF OMITTED] TR24JA20.029 Where: k is each commodity type within the hedging set. K is the number of commodity types within the hedging set. AddOn(Typek) equals the sum of the adjusted derivative contract amounts, as determined under paragraph (c)(9) of this section, for all derivative contracts within the hedging set that reference reference commodity type. [rho] equals the applicable supervisory correlation factor, as provided in Table 3 to this section. (v) Basis derivative contracts and volatility derivative contracts. Notwithstanding paragraphs (c)(8)(i) through (iv) of this section, a Board-regulated institution must calculate a separate hedging set amount for each basis derivative contract hedging set and each volatility derivative contract hedging set. A Board-regulated institution must calculate such hedging set amounts using one of the formulas under paragraphs (c)(8)(i) through (iv) that corresponds to the primary risk factor of the hedging set being calculated. (9) Adjusted derivative contract amount--(i) Summary. To calculate the adjusted derivative contract amount of a derivative contract, a Board-regulated institution must determine the adjusted notional amount of derivative contract, pursuant to paragraph (c)(9)(ii) of this section, and multiply the adjusted notional amount by each of the supervisory delta adjustment, pursuant to paragraph (c)(9)(iii) of this section, the maturity factor, pursuant to paragraph (c)(9)(iv) of this section, and the applicable supervisory factor, as provided in Table 3 to this section. (ii) Adjusted notional amount. (A)(1) For an interest rate derivative contract or a credit derivative contract, the adjusted notional amount equals the product of the notional amount of the derivative contract, as measured in U.S. dollars using the exchange rate on the date of the calculation, and the supervisory duration, as calculated by the following formula: [GRAPHIC] [TIFF OMITTED] TR17SE20.013 Where: S is the number of business days from the present day until the start date of the derivative contract, or zero if the start date has already passed; and E is the number of business days from the present day until the end date of the derivative contract. (2) For purposes of paragraph (c)(9)(ii)(A)(1) of this section: (i) For an interest rate derivative contract or credit derivative contract that is a variable notional swap, the notional amount is equal to the time-weighted average of the contractual [[Page 543]] notional amounts of such a swap over the remaining life of the swap; and (ii) For an interest rate derivative contract or a credit derivative contract that is a leveraged swap, in which the notional amount of all legs of the derivative contract are divided by a factor and all rates of the derivative contract are multiplied by the same factor, the notional amount is equal to the notional amount of an equivalent unleveraged swap. (B)(1) For an exchange rate derivative contract, the adjusted notional amount is the notional amount of the non-U.S. denominated currency leg of the derivative contract, as measured in U.S. dollars using the exchange rate on the date of the calculation. If both legs of the exchange rate derivative contract are denominated in currencies other than U.S. dollars, the adjusted notional amount of the derivative contract is the largest leg of the derivative contract, as measured in U.S. dollars using the exchange rate on the date of the calculation. (2) Notwithstanding paragraph (c)(9)(ii)(B)(1) of this section, for an exchange rate derivative contract with multiple exchanges of principal, the Board-regulated institution must set the adjusted notional amount of the derivative contract equal to the notional amount of the derivative contract multiplied by the number of exchanges of principal under the derivative contract. (C)(1) For an equity derivative contract or a commodity derivative contract, the adjusted notional amount is the product of the fair value of one unit of the reference instrument underlying the derivative contract and the number of such units referenced by the derivative contract. (2) Notwithstanding paragraph (c)(9)(ii)(C)(1) of this section, when calculating the adjusted notional amount for an equity derivative contract or a commodity derivative contract that is a volatility derivative contract, the Board-regulated institution must replace the unit price with the underlying volatility referenced by the volatility derivative contract and replace the number of units with the notional amount of the volatility derivative contract. (iii) Supervisory delta adjustments. (A) For a derivative contract that is not an option contract or collateralized debt obligation tranche, the supervisory delta adjustment is 1 if the fair value of the derivative contract increases when the value of the primary risk factor increases and -1 if the fair value of the derivative contract decreases when the value of the primary risk factor increases. (B)(1) For a derivative contract that is an option contract, the supervisory delta adjustment is determined by the following formulas, as applicable: [GRAPHIC] [TIFF OMITTED] TR24JA20.031 [[Page 544]] (2) As used in the formulas in Table 2 to this section: (i) [PHgr] is the standard normal cumulative distribution function; (ii) P equals the current fair value of the instrument or risk factor, as applicable, underlying the option; (iii) K equals the strike price of the option; (iv) T equals the number of business days until the latest contractual exercise date of the option; (v) [lgr] equals zero for all derivative contracts except interest rate options for the currencies where interest rates have negative values. The same value of [lgr] must be used for all interest rate options that are denominated in the same currency. To determine the value of [lgr] for a given currency, a Board-regulated institution must find the lowest value L of P and K of all interest rate options in a given currency that the Board-regulated institution has with all counterparties. Then, [lgr] is set according to this formula:[lgr] = max{-L + 0.1%, 0{time} ; and (vi) [sigma] equals the supervisory option volatility, as provided in Table 3 to this section. (C)(1) For a derivative contract that is a collateralized debt obligation tranche, the supervisory delta adjustment is determined by the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.032 (2) As used in the formula in paragraph (c)(9)(iii)(C)(1) of this section: (i) A is the attachment point, which equals the ratio of the notional amounts of all underlying exposures that are subordinated to the Board-regulated institution's exposure to the total notional amount of all underlying exposures, expressed as a decimal value between zero and one; \30\ --------------------------------------------------------------------------- \30\ In the case of a first-to-default credit derivative, there are no underlying exposures that are subordinated to the Board-regulated institution's exposure. In the case of a second-or-subsequent-to-default credit derivative, the smallest (n-1) notional amounts of the underlying exposures are subordinated to the Board-regulated institution's exposure. --------------------------------------------------------------------------- (ii) D is the detachment point, which equals one minus the ratio of the notional amounts of all underlying exposures that are senior to the Board-regulated institution's exposure to the total notional amount of all underlying exposures, expressed as a decimal value between zero and one; and (iii) The resulting amount is designated with a positive sign if the collateralized debt obligation tranche was purchased by the Board- regulated institution and is designated with a negative sign if the collateralized debt obligation tranche was sold by the Board-regulated institution. (iv) Maturity factor. (A)(1) The maturity factor of a derivative contract that is subject to a variation margin agreement, excluding derivative contracts that are subject to a variation margin agreement under which the counterparty is not required to post variation margin, is determined by the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.033 Where MPOR refers to the period from the most recent exchange of collateral covering a netting set of derivative contracts with a defaulting counterparty until the derivative contracts are closed out and the resulting market risk is re-hedged. [[Page 545]] (2) Notwithstanding paragraph (c)(9)(iv)(A)(1) of this section: (i) For a derivative contract that is not a client-facing derivative transaction, MPOR cannot be less than ten business days plus the periodicity of re-margining expressed in business days minus one business day; (ii) For a derivative contract that is a client-facing derivative transaction, cannot be less than five business days plus the periodicity of re-margining expressed in business days minus one business day; and (iii) For a derivative contract that is within a netting set that is composed of more than 5,000 derivative contracts that are not cleared transactions, or a netting set that contains one or more trades involving illiquid collateral or a derivative contract that cannot be easily replaced, MPOR cannot be less than twenty business days. (3) Notwithstanding paragraphs (c)(9)(iv)(A)(1) and (2) of this section, for a netting set subject to more than two outstanding disputes over margin that lasted longer than the MPOR over the previous two quarters, the applicable floor is twice the amount provided in paragraphs (c)(9)(iv)(A)(1) and (2) of this section. (B) The maturity factor of a derivative contract that is not subject to a variation margin agreement, or derivative contracts under which the counterparty is not required to post variation margin, is determined by the following formula: [GRAPHIC] [TIFF OMITTED] TR24JA20.034 Where M equals the greater of 10 business days and the remaining maturity of the contract, as measured in business days. (C) For purposes of paragraph (c)(9)(iv) of this section, if a Board-regulated institution has elected pursuant to paragraph (c)(5)(v) of this section to treat a derivative contract that is a cleared transaction that is not subject to a variation margin agreement as one that is subject to a variation margin agreement, the Board-regulated institution must treat the derivative contract as subject to a variation margin agreement with maturity factor as determined according to (c)(9)(iv)(A) of this section, and daily settlement does not change the end date of the period referenced by the derivative contract. (v) Derivative contract as multiple effective derivative contracts. A Board-regulated institution must separate a derivative contract into separate derivative contracts, according to the following rules: (A) For an option where the counterparty pays a predetermined amount if the value of the underlying asset is above or below the strike price and nothing otherwise (binary option), the option must be treated as two separate options. For purposes of paragraph (c)(9)(iii)(B) of this section, a binary option with strike K must be represented as the combination of one bought European option and one sold European option of the same type as the original option (put or call) with the strikes set equal to 0.95 * K and 1.05 * K so that the payoff of the binary option is reproduced exactly outside the region between the two strikes. The absolute value of the sum of the adjusted derivative contract amounts of the bought and sold options is capped at the payoff amount of the binary option. (B) For a derivative contract that can be represented as a combination of standard option payoffs (such as collar, butterfly spread, calendar spread, straddle, and strangle), a Board-regulated institution must treat each standard option component as a separate derivative contract. (C) For a derivative contract that includes multiple-payment options, (such as interest rate caps and floors), a Board-regulated institution may represent each payment option as a combination of effective single-payment [[Page 546]] options (such as interest rate caplets and floorlets). (D) A Board-regulated institution may not decompose linear derivative contracts (such as swaps) into components. (10) Multiple netting sets subject to a single variation margin agreement--(i) Calculating replacement cost. Notwithstanding paragraph (c)(6) of this section, a Board-regulated institution shall assign a single replacement cost to multiple netting sets that are subject to a single variation margin agreement under which the counterparty must post variation margin, calculated according to the following formula: Replacement Cost = max{[Sigma]NSmax{VNS; 0{time} - max{CMA; 0{time} ; 0{time} + max{[Sigma]NSmin{VNS; 0{time} - min{CMA; 0{time} ; 0{time} Where: NS is each netting set subject to the variation margin agreement MA; VNS is the sum of the fair values (after excluding any valuation adjustments) of the derivative contracts within the netting set NS; and CMA is the sum of the net independent collateral amount and the variation margin amount applicable to the derivative contracts within the netting sets subject to the single variation margin agreement. (ii) Calculating potential future exposure. Notwithstanding paragraph (c)(5) of this section, a Board-regulated institution shall assign a single potential future exposure to multiple netting sets that are subject to a single variation margin agreement under which the counterparty must post variation margin equal to the sum of the potential future exposure of each such netting set, each calculated according to paragraph (c)(7) of this section as if such nettings sets were not subject to a variation margin agreement. (11) Netting set subject to multiple variation margin agreements or a hybrid netting set--(i) Calculating replacement cost. To calculate replacement cost for either a netting set subject to multiple variation margin agreements under which the counterparty to each variation margin agreement must post variation margin, or a netting set composed of at least one derivative contract subject to variation margin agreement under which the counterparty must post variation margin and at least one derivative contract that is not subject to such a variation margin agreement, the calculation for replacement cost is provided under paragraph (c)(6)(i) of this section, except that the variation margin threshold equals the sum of the variation margin thresholds of all variation margin agreements within the netting set and the minimum transfer amount equals the sum of the minimum transfer amounts of all the variation margin agreements within the netting set. (ii) Calculating potential future exposure. (A) To calculate potential future exposure for a netting set subject to multiple variation margin agreements under which the counterparty to each variation margin agreement must post variation margin, or a netting set composed of at least one derivative contract subject to variation margin agreement under which the counterparty to the derivative contract must post variation margin and at least one derivative contract that is not subject to such a variation margin agreement, a Board-regulated institution must divide the netting set into sub-netting sets (as described in paragraph (c)(11)(ii)(B) of this section) and calculate the aggregated amount for each sub-netting set. The aggregated amount for the netting set is calculated as the sum of the aggregated amounts for the sub-netting sets. The multiplier is calculated for the entire netting set. (B) For purposes of paragraph (c)(11)(ii)(A) of this section, the netting set must be divided into sub-netting sets as follows: (1) All derivative contracts within the netting set that are not subject to a variation margin agreement or that are subject to a variation margin agreement under which the counterparty is not required to post variation margin form a single sub-netting set. The aggregated amount for this sub-netting set is calculated as if the netting set is not subject to a variation margin agreement. (2) All derivative contracts within the netting set that are subject to variation margin agreements in which the counterparty must post variation margin and that share the same value of the MPOR form a single sub-netting [[Page 547]] set. The aggregated amount for this sub-netting set is calculated as if the netting set is subject to a variation margin agreement, using the MPOR value shared by the derivative contracts within the netting set. Table 3 to Sec. 217.132--Supervisory Option Volatility, Supervisory Correlation Parameters, and Supervisory Factors for Derivative Contracts ---------------------------------------------------------------------------------------------------------------- Supervisory Supervisory option correlation Supervisory Asset class Category Type volatility factor factor \1\ (percent) (percent) (percent) ---------------------------------------------------------------------------------------------------------------- Interest rate................ N/A............. N/A............ 50 N/A 0.50 Exchange rate................ N/A............. N/A............ 15 N/A 4.0 Credit, single name.......... Investment grade N/A............ 100 50 0.46 Speculative N/A............ 100 50 1.3 grade. Sub-speculative N/A............ 100 50 6.0 grade. Credit, index................ Investment Grade N/A............ 80 80 0.38 Speculative N/A............ 80 80 1.06 Grade. Equity, single name.......... N/A............. N/A............ 120 50 32 Equity, index................ N/A............. N/A............ 75 80 20 Commodity.................... Energy.......... Electricity.... 150 40 40 Other.......... 70 40 18 Metals.......... N/A............ 70 40 18 Agricultural.... N/A............ 70 40 18 Other........... N/A............ 70 40 18 ---------------------------------------------------------------------------------------------------------------- \1\ The applicable supervisory factor for basis derivative contract hedging sets is equal to one-half of the supervisory factor provided in this Table 3, and the applicable supervisory factor for volatility derivative contract hedging sets is equal to 5 times the supervisory factor provided in this Table 3. (d) Internal models methodology. (1)(i) With prior written approval from the Board, a Board-regulated institution may use the internal models methodology in this paragraph (d) to determine EAD for counterparty credit risk for derivative contracts (collateralized or uncollateralized) and single-product netting sets thereof, for eligible margin loans and single-product netting sets thereof, and for repo-style transactions and single-product netting sets thereof. (ii) A Board-regulated institution that uses the internal models methodology for a particular transaction type (derivative contracts, eligible margin loans, or repo-style transactions) must use the internal models methodology for all transactions of that transaction type. A Board-regulated institution may choose to use the internal models methodology for one or two of these three types of exposures and not the other types. (iii) A Board-regulated institution may also use the internal models methodology for derivative contracts, eligible margin loans, and repo- style transactions subject to a qualifying cross-product netting agreement if: (A) The Board-regulated institution effectively integrates the risk mitigating effects of cross-product netting into its risk management and other information technology systems; and (B) The Board-regulated institution obtains the prior written approval of the Board. (iv) A Board-regulated institution that uses the internal models methodology for a transaction type must receive approval from the Board to cease using the methodology for that transaction type or to make a material change to its internal model. (2) Risk-weighted assets using IMM. Under the IMM, a Board-regulated institution uses an internal model to estimate the expected exposure (EE) for a netting set and then calculates EAD based on that EE. A Board-regulated institution must calculate two EEs and two EADs (one stressed and one unstressed) for each netting set as follows: (i) EADunstressed is calculated using an EE estimate based on the most recent data meeting the requirements of paragraph (d)(3)(vii) of this section; (ii) EADstressed is calculated using an EE estimate based on a historical period that includes a period of stress to the credit default spreads of the Board-regulated institution's counterparties according to paragraph (d)(3)(viii) of this section; [[Page 548]] (iii) The Board-regulated institution must use its internal model's probability distribution for changes in the fair value of a netting set that are attributable to changes in market variables to determine EE; and (iv) Under the internal models methodology, EAD = Max (0, [alpha] x effective EPE - CVA), or, subject to the prior written approval of Board as provided in paragraph (d)(10) of this section, a more conservative measure of EAD. (A) CVA equals the credit valuation adjustment that the Board- regulated institution has recognized in its balance sheet valuation of any OTC derivative contracts in the netting set. For purposes of this paragraph (d), CVA does not include any adjustments to common equity tier 1 capital attributable to changes in the fair value of the Board- regulated institution's liabilities that are due to changes in its own credit risk since the inception of the transaction with the counterparty. [GRAPHIC] [TIFF OMITTED] TR11OC13.033 (C) [alpha] = 1.4 except as provided in paragraph (d)(6) of this section, or when the Board has determined that the Board-regulated institution must set [alpha] higher based on the Board-regulated institution's specific characteristics of counterparty credit risk or model performance. (v) A Board-regulated institution may include financial collateral currently posted by the counterparty as collateral (but may not include other forms of collateral) when calculating EE. (vi) If a Board-regulated institution hedges some or all of the counterparty credit risk associated with a netting set using an eligible credit derivative, the Board-regulated institution may take the reduction in exposure to the counterparty into account when estimating EE. If the Board-regulated institution recognizes this reduction in exposure to the counterparty in its estimate of EE, it must also use its internal model to estimate a separate EAD for the Board-regulated institution's exposure to the protection provider of the credit derivative. (3) Prior approval relating to EAD calculation. To obtain Board approval to calculate the distributions of exposures upon which the EAD calculation is based, the Board-regulated institution must demonstrate to the satisfaction of the Board that it has been using for at least one year an internal model that broadly meets the following minimum standards, with which the Board-regulated institution must maintain compliance: (i) The model must have the systems capability to estimate the expected exposure to the counterparty on a daily [[Page 549]] basis (but is not expected to estimate or report expected exposure on a daily basis); (ii) The model must estimate expected exposure at enough future dates to reflect accurately all the future cash flows of contracts in the netting set; (iii) The model must account for the possible non-normality of the exposure distribution, where appropriate; (iv) The Board-regulated institution must measure, monitor, and control current counterparty exposure and the exposure to the counterparty over the whole life of all contracts in the netting set; (v) The Board-regulated institution must be able to measure and manage current exposures gross and net of collateral held, where appropriate. The Board-regulated institution must estimate expected exposures for OTC derivative contracts both with and without the effect of collateral agreements; (vi) The Board-regulated institution must have procedures to identify, monitor, and control wrong-way risk throughout the life of an exposure. The procedures must include stress testing and scenario analysis; (vii) The model must use current market data to compute current exposures. The Board-regulated institution must estimate model parameters using historical data from the most recent three-year period and update the data quarterly or more frequently if market conditions warrant. The Board-regulated institution should consider using model parameters based on forward-looking measures, where appropriate; (viii) When estimating model parameters based on a stress period, the Board-regulated institution must use at least three years of historical data that include a period of stress to the credit default spreads of the Board-regulated institution's counterparties. The Board- regulated institution must review the data set and update the data as necessary, particularly for any material changes in its counterparties. The Board-regulated institution must demonstrate, at least quarterly, and maintain documentation of such demonstration, that the stress period coincides with increased CDS or other credit spreads of the Board- regulated institution's counterparties. The Board-regulated institution must have procedures to evaluate the effectiveness of its stress calibration that include a process for using benchmark portfolios that are vulnerable to the same risk factors as the Board-regulated institution's portfolio. The Board may require the Board-regulated institution to modify its stress calibration to better reflect actual historic losses of the portfolio; (ix) A Board-regulated institution must subject its internal model to an initial validation and annual model review process. The model review should consider whether the inputs and risk factors, as well as the model outputs, are appropriate. As part of the model review process, the Board-regulated institution must have a backtesting program for its model that includes a process by which unacceptable model performance will be determined and remedied; (x) A Board-regulated institution must have policies for the measurement, management and control of collateral and margin amounts; and (xi) A Board-regulated institution must have a comprehensive stress testing program that captures all credit exposures to counterparties, and incorporates stress testing of principal market risk factors and creditworthiness of counterparties. (4) Calculating the maturity of exposures. (i) If the remaining maturity of the exposure or the longest-dated contract in the netting set is greater than one year, the Board-regulated institution must set M for the exposure or netting set equal to the lower of five years or M(EPE), where: [[Page 550]] [GRAPHIC] [TIFF OMITTED] TR11OC13.034 (ii) If the remaining maturity of the exposure or the longest-dated contract in the netting set is one year or less, the Board-regulated institution must set M for the exposure or netting set equal to one year, except as provided in Sec. 217.131(d)(7). (iii) Alternatively, a Board-regulated institution that uses an internal model to calculate a one-sided credit valuation adjustment may use the effective credit duration estimated by the model as M(EPE) in place of the formula in paragraph (d)(4)(i) of this section. (5) Effects of collateral agreements on EAD. A Board-regulated institution may capture the effect on EAD of a collateral agreement that requires receipt of collateral when exposure to the counterparty increases, but may not capture the effect on EAD of a collateral agreement that requires receipt of collateral when counterparty credit quality deteriorates. Two methods are available to capture the effect of a collateral agreement, as set forth in paragraphs (d)(5)(i) and (ii) of this section: (i) With prior written approval from the Board, a Board-regulated institution may include the effect of a collateral agreement within its internal model used to calculate EAD. The Board-regulated institution may set EAD equal to the expected exposure at the end of the margin period of risk. The margin period of risk means, with respect to a netting set subject to a collateral agreement, the time period from the most recent exchange of collateral with a counterparty until the next required exchange of collateral, plus the period of time required to sell and realize the proceeds of the least liquid collateral that can be delivered under the terms of the collateral agreement and, where applicable, the period of time required to re-hedge the resulting market risk upon the default of the counterparty. The minimum margin period of risk is set according to paragraph (d)(5)(iii) of this section; or (ii) As an alternative to paragraph (d)(5)(i) of this section, a Board-regulated institution that can model EPE without collateral agreements but cannot achieve the higher level of modeling sophistication to model EPE with collateral agreements can set effective EPE for a collateralized netting set equal to the lesser of: (A) An add-on that reflects the potential increase in exposure of the netting set over the margin period of risk, plus the larger of: (1) The current exposure of the netting set reflecting all collateral held or posted by the Board-regulated institution excluding any collateral called or in dispute; or (2) The largest net exposure including all collateral held or posted under the margin agreement that would not trigger a collateral call. For purposes of this section, the add-on is computed as the expected increase in the netting set's exposure over the margin period of risk (set in accordance with paragraph (d)(5)(iii) of this section); or (B) Effective EPE without a collateral agreement plus any collateral the Board-regulated institution posts to the counterparty that exceeds the required margin amount. (iii) For purposes of this part, including paragraphs (d)(5)(i) and (ii) of this section, the margin period of risk for a [[Page 551]] netting set subject to a collateral agreement is: (A) Five business days for repo-style transactions subject to daily remargining and daily marking-to-market, and ten business days for other transactions when liquid financial collateral is posted under a daily margin maintenance requirement, or (B) Twenty business days if the number of trades in a netting set exceeds 5,000 at any time during the previous quarter (except if the Board-regulated institution is calculating EAD for a cleared transaction under Sec. 217.133) or contains one or more trades involving illiquid collateral or any derivative contract that cannot be easily replaced. If over the two previous quarters more than two margin disputes on a netting set have occurred that lasted more than the margin period of risk, then the Board-regulated institution must use a margin period of risk for that netting set that is at least two times the minimum margin period of risk for that netting set. If the periodicity of the receipt of collateral is N-days, the minimum margin period of risk is the minimum margin period of risk under this paragraph (d) plus N minus 1. This period should be extended to cover any impediments to prompt re- hedging of any market risk. (C) Five business days for an OTC derivative contract or netting set of OTC derivative contracts where the Board-regulated institution is either acting as a financial intermediary and enters into an offsetting transaction with a CCP or where the Board-regulated institution provides a guarantee to the CCP on the performance of the client. A Board- regulated institution must use a longer holding period if the Board- regulated institution determines that a longer period is appropriate. Additionally, the Board may require the Board-regulated institution to set a longer holding period if the Board determines that a longer period is appropriate due to the nature, structure, or characteristics of the transaction or is commensurate with the risks associated with the transaction. (6) Own estimate of alpha. With prior written approval of the Board, a Board-regulated institution may calculate alpha as the ratio of economic capital from a full simulation of counterparty exposure across counterparties that incorporates a joint simulation of market and credit risk factors (numerator) and economic capital based on EPE (denominator), subject to a floor of 1.2. For purposes of this calculation, economic capital is the unexpected losses for all counterparty credit risks measured at a 99.9 percent confidence level over a one-year horizon. To receive approval, the Board-regulated institution must meet the following minimum standards to the satisfaction of the Board: (i) The Board-regulated institution's own estimate of alpha must capture in the numerator the effects of: (A) The material sources of stochastic dependency of distributions of fair values of transactions or portfolios of transactions across counterparties; (B) Volatilities and correlations of market risk factors used in the joint simulation, which must be related to the credit risk factor used in the simulation to reflect potential increases in volatility or correlation in an economic downturn, where appropriate; and (C) The granularity of exposures (that is, the effect of a concentration in the proportion of each counterparty's exposure that is driven by a particular risk factor). (ii) The Board-regulated institution must assess the potential model uncertainty in its estimates of alpha. (iii) The Board-regulated institution must calculate the numerator and denominator of alpha in a consistent fashion with respect to modeling methodology, parameter specifications, and portfolio composition. (iv) The Board-regulated institution must review and adjust as appropriate its estimates of the numerator and denominator of alpha on at least a quarterly basis and more frequently when the composition of the portfolio varies over time. (7) Risk-based capital requirements for transactions with specific wrong-way risk. A Board-regulated institution must determine if a repo- style transaction, eligible margin loan, bond option, or equity derivative contract or purchased credit derivative to which the Board- [[Page 552]] regulated institution applies the internal models methodology under this paragraph (d) has specific wrong-way risk. If a transaction has specific wrong-way risk, the Board-regulated institution must treat the transaction as its own netting set and exclude it from the model described in Sec. 217.132(d)(2) and instead calculate the risk-based capital requirement for the transaction as follows: (i) For an equity derivative contract, by multiplying: (A) K, calculated using the appropriate risk-based capital formula specified in Table 1 of Sec. 217.131 using the PD of the counterparty and LGD equal to 100 percent, by (B) The maximum amount the Board-regulated institution could lose on the equity derivative. (ii) For a purchased credit derivative by multiplying: (A) K, calculated using the appropriate risk-based capital formula specified in Table 1 of Sec. 217.131 using the PD of the counterparty and LGD equal to 100 percent, by (B) The fair value of the reference asset of the credit derivative. (iii) For a bond option, by multiplying: (A) K, calculated using the appropriate risk-based capital formula specified in Table 1 of Sec. 217.131 using the PD of the counterparty and LGD equal to 100 percent, by (B) The smaller of the notional amount of the underlying reference asset and the maximum potential loss under the bond option contract. (iv) For a repo-style transaction or eligible margin loan by multiplying: (A) K, calculated using the appropriate risk-based capital formula specified in Table 1 of Sec. 217.131 using the PD of the counterparty and LGD equal to 100 percent, by (B) The EAD of the transaction determined according to the EAD equation in Sec. 217.132(b)(2), substituting the estimated value of the collateral assuming a default of the counterparty for the value of the collateral in [Sigma]c of the equation. (8) Risk-weighted asset amount for IMM exposures with specific wrong-way risk. The aggregate risk-weighted asset amount for IMM exposures with specific wrong-way risk is the sum of a Board-regulated institution's risk-based capital requirement for purchased credit derivatives that are not bond options with specific wrong-way risk as calculated under paragraph (d)(7)(ii) of this section, a Board-regulated institution's risk-based capital requirement for equity derivatives with specific wrong-way risk as calculated under paragraph (d)(7)(i) of this section, a Board-regulated institution's risk-based capital requirement for bond options with specific wrong-way risk as calculated under paragraph (d)(7)(iii) of this section, and a Board-regulated institution's risk-based capital requirement for repo-style transactions and eligible margin loans with specific wrong-way risk as calculated under paragraph (d)(7)(iv) of this section, multiplied by 12.5. (9) Risk-weighted assets for IMM exposures. (i) The Board-regulated institution must insert the assigned risk parameters for each counterparty and netting set into the appropriate formula specified in Table 1 of Sec. 217.131 and multiply the output of the formula by the EADunstressed of the netting set to obtain the unstressed capital requirement for each netting set. A Board-regulated institution that uses an advanced CVA approach that captures migrations in credit spreads under paragraph (e)(3) of this section must set the maturity adjustment (b) in the formula equal to zero. The sum of the unstressed capital requirement calculated for each netting set equals Kunstressed. (ii) The Board-regulated institution must insert the assigned risk parameters for each wholesale obligor and netting set into the appropriate formula specified in Table 1 of Sec. 217.131 and multiply the output of the formula by the EADstressed of the netting set to obtain the stressed capital requirement for each netting set. A Board-regulated institution that uses an advanced CVA approach that captures migrations in credit spreads under paragraph (e)(6) of this section must set the maturity adjustment (b) in the formula equal to zero. The sum of the stressed capital requirement calculated for each netting set equals Kstressed. [[Page 553]] (iii) The Board-regulated institution's dollar risk-based capital requirement under the internal models methodology equals the larger of Kunstressed and Kstressed. A Board-regulated institution's risk-weighted assets amount for IMM exposures is equal to the capital requirement multiplied by 12.5, plus risk-weighted assets for IMM exposures with specific wrong-way risk in paragraph (d)(8) of this section and those in paragraph (d)(10) of this section. (10) Other measures of counterparty exposure. (i) With prior written approval of the Board, a Board-regulated institution may set EAD equal to a measure of counterparty credit risk exposure, such as peak EAD, that is more conservative than an alpha of 1.4 times the larger of EPEunstressed and EPEstressed for every counterparty whose EAD will be measured under the alternative measure of counterparty exposure. The Board-regulated institution must demonstrate the conservatism of the measure of counterparty credit risk exposure used for EAD. With respect to paragraph (d)(10)(i) of this section: (A) For material portfolios of new OTC derivative products, the Board-regulated institution may assume that the standardized approach for counterparty credit risk pursuant to paragraph (c) of this section meets the conservatism requirement of this section for a period not to exceed 180 days. (B) For immaterial portfolios of OTC derivative contracts, the Board-regulated institution generally may assume that the standardized approach for counterparty credit risk pursuant to paragraph (c) of this section meets the conservatism requirement of this section. (ii) To calculate risk-weighted assets for purposes of the approach in paragraph (d)(10)(i) of this section, the Board-regulated institution must insert the assigned risk parameters for each counterparty and netting set into the appropriate formula specified in Table 1 of Sec. 217.131, multiply the output of the formula by the EAD for the exposure as specified above, and multiply by 12.5. (e) Credit valuation adjustment (CVA) risk-weighted assets--(1) In general. With respect to its OTC derivative contracts, a Board-regulated institution must calculate a CVA risk-weighted asset amount for its portfolio of OTC derivative transactions that are subject to the CVA capital requirement using the simple CVA approach described in paragraph (e)(5) of this section or, with prior written approval of the Board, the advanced CVA approach described in paragraph (e)(6) of this section. A Board-regulated institution that receives prior Board approval to calculate its CVA risk-weighted asset amounts for a class of counterparties using the advanced CVA approach must continue to use that approach for that class of counterparties until it notifies the Board in writing that the Board-regulated institution expects to begin calculating its CVA risk-weighted asset amount using the simple CVA approach. Such notice must include an explanation of the Board-regulated institution's rationale and the date upon which the Board-regulated institution will begin to calculate its CVA risk-weighted asset amount using the simple CVA approach. (2) Market risk Board-regulated institutions. Notwithstanding the prior approval requirement in paragraph (e)(1) of this section, a market risk Board-regulated institution may calculate its CVA risk-weighted asset amount using the advanced CVA approach if the Board-regulated institution has Board approval to: (i) Determine EAD for OTC derivative contracts using the internal models methodology described in paragraph (d) of this section; and (ii) Determine its specific risk add-on for debt positions issued by the counterparty using a specific risk model described in Sec. 217.207(b). (3) Recognition of hedges. (i) A Board-regulated institution may recognize a single name CDS, single name contingent CDS, any other equivalent hedging instrument that references the counterparty directly, and index credit default swaps (CDSind) as a CVA hedge under paragraph (e)(5)(ii) of this section or paragraph (e)(6) of this section, provided that the position is managed as a CVA hedge in accordance with the Board-regulated institution's hedging policies. (ii) A Board-regulated institution shall not recognize as a CVA hedge any [[Page 554]] tranched or n\th\-to-default credit derivative. (4) Total CVA risk-weighted assets. Total CVA risk-weighted assets is the CVA capital requirement, KCVA, calculated for a Board- regulated institution's entire portfolio of OTC derivative counterparties that are subject to the CVA capital requirement, multiplied by 12.5. (5) Simple CVA approach. (i) Under the simple CVA approach, the CVA capital requirement, KCVA, is calculated according to the following formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.035 (A) wi = the weight applicable to counterparty i under Table 4 to this section; (B) Mi = the EAD-weighted average of the effective maturity of each netting set with counterparty i (where each netting set's effective maturity can be no less than one year.) (C) EADitotal = the sum of the EAD for all netting sets of OTC derivative contracts with counterparty i calculated using the standardized approach to counterparty credit risk described in paragraph (c) of this section or the internal models methodology described in paragraph (d) of this section. When the Board-regulated institution calculates EAD under paragraph (c) of this section, such EAD may be adjusted for purposes of calculating EADitotal by multiplying EAD by (1- exp(-0.05 x Mi))/(0.05 x Mi), where ``exp'' is the exponential function. When the Board-regulated institution calculates EAD under paragraph (d) of this section, EADitotal equals EADunstressed. (D) Mihedge = the notional weighted average maturity of the hedge instrument. (E) Bi = the sum of the notional amounts of any purchased single name CDS referencing counterparty i that is used to hedge CVA risk to counterparty i multiplied by (1-exp(-0.05 x Mihedge))/(0.05 x Mihedge). (F) Mind = the maturity of the CDSind or the notional weighted average maturity of any CDSind purchased to hedge CVA risk of counterparty i. (G) Bind = the notional amount of one or more CDSind purchased to hedge CVA risk for counterparty i multiplied by (1-exp(- 0.05 x Mind))/(0.05 x Mind) (H) wind = the weight applicable to the CDSind based on the average weight of the underlying reference names that comprise the index under Table 4 to this section. (ii) The Board-regulated institution may treat the notional amount of the index attributable to a counterparty as a single name hedge of counterparty i (Bi,) when calculating KCVA, and subtract the notional amount of Bi from the notional amount of the CDSind. A Board-regulated institution must treat the CDSind hedge with the notional amount reduced by Bi as a CVA hedge. Table 4 to Sec. 217.132--Assignment of Counterparty Weight ------------------------------------------------------------------------ Weight wi (in Internal PD (in percent) percent) ------------------------------------------------------------------------ 0.00-0.07............................................... 0.70 0.070-0.15................................... 0.80 0.15-0.40.................................... 1.00 0.40-2.00.................................... 2.00 2.00-6.00.................................... 3.00 6.00......................................... 10.00 ------------------------------------------------------------------------ (6) Advanced CVA approach. (i) A Board-regulated institution may use the VaR model that it uses to determine specific risk under Sec. 217.207(b) or another VaR model that meets the quantitative requirements of Sec. 217.205(b) and Sec. 217.207(b)(1) to calculate its CVA capital requirement for [[Page 555]] a counterparty by modeling the impact of changes in the counterparties' credit spreads, together with any recognized CVA hedges, on the CVA for the counterparties, subject to the following requirements: (A) The VaR model must incorporate only changes in the counterparties' credit spreads, not changes in other risk factors. The VaR model does not need to capture jump-to-default risk; (B) A Board-regulated institution that qualifies to use the advanced CVA approach must include in that approach any immaterial OTC derivative portfolios for which it uses the standardized approach to counterparty credit risk in paragraph (c) of this section according to paragraph (e)(6)(viii) of this section; and (C) A Board-regulated institution must have the systems capability to calculate the CVA capital requirement for a counterparty on a daily basis (but is not required to calculate the CVA capital requirement on a daily basis). (ii) Under the advanced CVA approach, the CVA capital requirement, KCVA, is calculated according to the following formulas: [GRAPHIC] [TIFF OMITTED] TR11OC13.037 Where (A) ti = the time of the i-th revaluation time bucket starting from t0 = 0. (B) tT = the longest contractual maturity across the OTC derivative contracts with the counterparty. (C) si = the CDS spread for the counterparty at tenor ti used to calculate the CVA for the counterparty. If a CDS spread is not available, the Board-regulated institution must use a proxy spread based on the credit quality, industry and region of the counterparty. (D) LGDMKT = the loss given default of the counterparty based on the spread of a publicly traded debt instrument of the counterparty, or, where a publicly traded debt instrument spread is not available, a proxy spread based on the credit quality, industry, and region of the counterparty. Where no market information and no reliable proxy based on the credit quality, industry, and region of the counterparty are available to determine LGDMKT, a Board-regulated institution may use a conservative estimate when determining LGDMKT, subject to approval by the Board. (E) EEi = the sum of the expected exposures for all netting sets with the counterparty at revaluation time ti, calculated according to paragraphs (e)(6)(iv)(A) and (e)(6)(v)(A) of this section. (F) Di = the risk-free discount factor at time ti, where D0 = 1. (G) Exp is the exponential function. (H) The subscript j refers either to a stressed or an unstressed calibration as described in paragraphs (e)(6)(iv) and (v) of this section. (iii) Notwithstanding paragraphs (e)(6)(i) and (e)(6)(ii) of this section, a Board-regulated institution must use [[Page 556]] the formulas in paragraphs (e)(6)(iii)(A) or (e)(6)(iii)(B) of this section to calculate credit spread sensitivities if its VaR model is not based on full repricing. (A) If the VaR model is based on credit spread sensitivities for specific tenors, the Board-regulated institution must calculate each credit spread sensitivity according to the following formula: [GRAPHIC] [TIFF OMITTED] TR11OC13.039 (iv) To calculate the CVAUnstressed measure for purposes of paragraph (e)(6)(ii) of this section, the Board-regulated institution must: (A) Use the EEi calculated using the calibration of paragraph (d)(3)(vii) of this section, except as provided in Sec. 217.132(e)(6)(vi), and (B) Use the historical observation period required under Sec. 217.205(b)(2). (v) To calculate the CVAStressed measure for purposes of paragraph (e)(6)(ii) of this section, the Board-regulated institution must: (A) Use the EEi calculated using the stress calibration in paragraph (d)(3)(viii) of this section except as provided in paragraph (e)(6)(vi) of this section. (B) Calibrate VaR model inputs to historical data from the most severe twelve-month stress period contained within the three-year stress period used to calculate EEi. The Board may require a Board- regulated institution to use a different period of significant financial stress in the calculation of the CVAStressed measure. (vi) If a Board-regulated institution captures the effect of a collateral agreement on EAD using the method described in paragraph (d)(5)(ii) of this section, for purposes of paragraph (e)(6)(ii) of this section, the Board-regulated institution must calculate EEi using the method in paragraph (d)(5)(ii) of this section and keep that EE constant with the maturity equal to the maximum of: (A) Half of the longest maturity of a transaction in the netting set, and (B) The notional weighted average maturity of all transactions in the netting set. (vii) For purposes of paragraph (e)(6) of this section, the Board- regulated institution's VaR model must capture the basis between the spreads of any CDSind that is used as the hedging instrument and the hedged counterparty [[Page 557]] exposure over various time periods, including benign and stressed environments. If the VaR model does not capture that basis, the Board- regulated institution must reflect only 50 percent of the notional amount of the CDSind hedge in the VaR model. (viii) If a Board-regulated institution uses the standardized approach for counterparty credit risk pursuant to paragraph (c) of this section to calculate the EAD for any immaterial portfolios of OTC derivative contracts, the Board-regulated institution must use that EAD as a constant EE in the formula for the calculation of CVA with the maturity equal to the maximum of: (A) Half of the longest maturity of a transaction in the netting set; and (B) The notional weighted average maturity of all transactions in the netting set. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 80 FR 41421, July 15, 2015; 85 FR 4419, Jan. 24, 2020; 85 FR 57961, Sept. 17, 2020; 86 FR 738, Jan. 6, 2021] Sec. 217.133 Cleared transactions. (a) General requirements--(1) Clearing member clients. A Board- regulated institution that is a clearing member client must use the methodologies described in paragraph (b) of this section to calculate risk-weighted assets for a cleared transaction. (2) Clearing members. A Board-regulated institution that is a clearing member must use the methodologies described in paragraph (c) of this section to calculate its risk-weighted assets for a cleared transaction and paragraph (d) of this section to calculate its risk- weighted assets for its default fund contribution to a CCP. (b) Clearing member client Board-regulated institutions--(1) Risk- weighted assets for cleared transactions. (i) To determine the risk- weighted asset amount for a cleared transaction, a Board-regulated institution that is a clearing member client must multiply the trade exposure amount for the cleared transaction, calculated in accordance with paragraph (b)(2) of this section, by the risk weight appropriate for the cleared transaction, determined in accordance with paragraph (b)(3) of this section. (ii) A clearing member client Board-regulated institution's total risk-weighted assets for cleared transactions is the sum of the risk- weighted asset amounts for all of its cleared transactions. (2) Trade exposure amount. (i) For a cleared transaction that is a derivative contract or a netting set of derivative contracts, trade exposure amount equals the EAD for the derivative contract or netting set of derivative contracts calculated using the methodology used to calculate EAD for derivative contracts set forth in Sec. 217.132(c) or (d), plus the fair value of the collateral posted by the clearing member client Board-regulated institution and held by the CCP or a clearing member in a manner that is not bankruptcy remote. When the Board- regulated institution calculates EAD for the cleared transaction using the methodology in Sec. 217.132(d), EAD equals EADunstressed. (ii) For a cleared transaction that is a repo-style transaction or netting set of repo-style transactions, trade exposure amount equals the EAD for the repo-style transaction calculated using the methodology set forth in Sec. 217.132(b)(2) or (3) or (d), plus the fair value of the collateral posted by the clearing member client Board-regulated institution and held by the CCP or a clearing member in a manner that is not bankruptcy remote. When the Board-regulated institution calculates EAD for the cleared transaction under Sec. 217.132(d), EAD equals EADunstressed. (3) Cleared transaction risk weights. (i) For a cleared transaction with a QCCP, a clearing member client Board-regulated institution must apply a risk weight of: (A) 2 percent if the collateral posted by the Board-regulated institution to the QCCP or clearing member is subject to an arrangement that prevents any loss to the clearing member client Board-regulated institution due to the joint default or a concurrent insolvency, liquidation, or receivership proceeding of the clearing member and any other clearing member clients of the clearing member; and the clearing member client Board-regulated institution has conducted sufficient legal review to conclude with a well-founded basis (and maintains sufficient written [[Page 558]] documentation of that legal review) that in the event of a legal challenge (including one resulting from an event of default or from liquidation, insolvency, or receivership proceedings) the relevant court and administrative authorities would find the arrangements to be legal, valid, binding, and enforceable under the law of the relevant jurisdictions. (B) 4 percent, if the requirements of paragraph (b)(3)(i)(A) of this section are not met. (ii) For a cleared transaction with a CCP that is not a QCCP, a clearing member client Board-regulated institution must apply the risk weight applicable to the CCP under subpart D of this part. (4) Collateral. (i) Notwithstanding any other requirement of this section, collateral posted by a clearing member client Board-regulated institution that is held by a custodian (in its capacity as a custodian) in a manner that is bankruptcy remote from the CCP, clearing member, and other clearing member clients of the clearing member, is not subject to a capital requirement under this section. (ii) A clearing member client Board-regulated institution must calculate a risk-weighted asset amount for any collateral provided to a CCP, clearing member or a custodian in connection with a cleared transaction in accordance with requirements under subparts E or F of this part, as applicable. (c) Clearing member Board-regulated institution--(1) Risk-weighted assets for cleared transactions. (i) To determine the risk-weighted asset amount for a cleared transaction, a clearing member Board- regulated institution must multiply the trade exposure amount for the cleared transaction, calculated in accordance with paragraph (c)(2) of this section by the risk weight appropriate for the cleared transaction, determined in accordance with paragraph (c)(3) of this section. (ii) A clearing member Board-regulated institution's total risk- weighted assets for cleared transactions is the sum of the risk-weighted asset amounts for all of its cleared transactions. (2) Trade exposure amount. A clearing member Board-regulated institution must calculate its trade exposure amount for a cleared transaction as follows: (i) For a cleared transaction that is a derivative contract or a netting set of derivative contracts, trade exposure amount equals the EAD calculated using the methodology used to calculate EAD for derivative contracts set forth in Sec. 217.132(c) or (d), plus the fair value of the collateral posted by the clearing member Board-regulated institution and held by the CCP in a manner that is not bankruptcy remote. When the clearing member Board-regulated institution calculates EAD for the cleared transaction using the methodology in Sec. 217.132(d), EAD equals EADunstressed. (ii) For a cleared transaction that is a repo-style transaction or netting set of repo-style transactions, trade exposure amount equals the EAD calculated under Sec. 217.132(b)(2) or (3) or (d), plus the fair value of the collateral posted by the clearing member Board-regulated institution and held by the CCP in a manner that is not bankruptcy remote. When the clearing member Board-regulated institution calculates EAD for the cleared transaction under Sec. 217.132(d), EAD equals EADunstressed. (3) Cleared transaction risk weights. (i) A clearing member Board- regulated institution must apply a risk weight of 2 percent to the trade exposure amount for a cleared transaction with a QCCP. (ii) For a cleared transaction with a CCP that is not a QCCP, a clearing member Board-regulated institution must apply the risk weight applicable to the CCP according to subpart D of this part. (iii) Notwithstanding paragraphs (c)(3)(i) and (ii) of this section, a clearing member Board-regulated institution may apply a risk weight of zero percent to the trade exposure amount for a cleared transaction with a QCCP where the clearing member Board-regulated institution is acting as a financial intermediary on behalf of a clearing member client, the transaction offsets another transaction that satisfies the requirements set forth in Sec. 217.3(a), and the clearing member Board-regulated institution is not obligated to reimburse the clearing member client in the event of the QCCP default. [[Page 559]] (4) Collateral. (i) Notwithstanding any other requirement of this section, collateral posted by a clearing member Board-regulated institution that is held by a custodian (in its capacity as a custodian) in a manner that is bankruptcy remote from the CCP, clearing member, and other clearing member clients of the clearing member, is not subject to a capital requirement under this section. (ii) A clearing member Board-regulated institution must calculate a risk-weighted asset amount for any collateral provided to a CCP, clearing member or a custodian in connection with a cleared transaction in accordance with requirements under subparts E or F of this part, as applicable. (d) Default fund contributions--(1) General requirement. A clearing member Board-regulated institution must determine the risk-weighted asset amount for a default fund contribution to a CCP at least quarterly, or more frequently if, in the opinion of the Board-regulated institution or the Board, there is a material change in the financial condition of the CCP. (2) Risk-weighted asset amount for default fund contributions to nonqualifying CCPs. A clearing member Board-regulated institution's risk-weighted asset amount for default fund contributions to CCPs that are not QCCPs equals the sum of such default fund contributions multiplied by 1,250 percent, or an amount determined by the Board, based on factors such as size, structure, and membership characteristics of the CCP and riskiness of its transactions, in cases where such default fund contributions may be unlimited. (3) Risk-weighted asset amount for default fund contributions to QCCPs. A clearing member Board-regulated institution's risk-weighted asset amount for default fund contributions to QCCPs equals the sum of its capital requirement, KCM for each QCCP, as calculated under the methodology set forth in paragraph (d)(4) of this section, multiplied by 12.5. (4) Capital requirement for default fund contributions to a QCCP. A clearing member Board-regulated institution's capital requirement for its default fund contribution to a QCCP (KCM) is equal to: [[Page 560]] [GRAPHIC] [TIFF OMITTED] TR17SE20.014 (5) Hypothetical capital requirement of a QCCP. Where a QCCP has provided its KCCP, a Board-regulated institution must rely on such disclosed figure instead of calculating KCCP under this paragraph (d)(5), unless the Board-regulated institution determines that a more conservative figure is appropriate based on the nature, structure, or characteristics of the QCCP. The hypothetical capital requirement of a QCCP (KCCP), as determined by the Board-regulated institution, is equal to: KCCP = [Sigma]CMi EADi * 1.6 percent Where: CMi is each clearing member of the QCCP; and EADi is the exposure amount of the QCCP to each clearing member of the QCCP, as determined under paragraph (d)(6) of this section. (6) EAD of a QCCP to a clearing member. (i) The EAD of a QCCP to a clearing member is equal to the sum of the EAD for derivative contracts determined under paragraph (d)(6)(ii) of this section and the EAD for repo-style transactions determined under paragraph (d)(6)(iii) of this section. (ii) With respect to any derivative contracts between the QCCP and the clearing member that are cleared transactions and any guarantees that the clearing member has provided to the QCCP with respect to performance of a clearing member client on a derivative contract, the EAD is equal to the exposure amount of the QCCP to the clearing member for all such derivative contracts and guarantees of derivative contracts calculated under SA-CCR in Sec. 217.132(c) (or, with respect to a QCCP located outside the United States, under a substantially identical methodology in effect in the jurisdiction) using a value of 10 business days for purposes of Sec. 217.132(c)(9)(iv); less the value of all collateral held by the QCCP posted by the clearing member or a client of the clearing member in connection with a derivative contract for which the clearing member has provided a guarantee to the QCCP and the amount of the prefunded default fund contribution of the clearing member to the QCCP. (iii) With respect to any repo-style transactions between the QCCP and a [[Page 561]] clearing member that are cleared transactions, EAD is equal to: EADi = max{EBRMi-IMi-DFi;0{time} Where: EBRMi is the exposure amount of the QCCP to each clearing member for all repo-style transactions between the QCCP and the clearing member, as determined under Sec. 217.132(b)(2) and without recognition of the initial margin collateral posted by the clearing member to the QCCP with respect to the repo-style transactions or the prefunded default fund contribution of the clearing member institution to the QCCP; IMi is the initial margin collateral posted by each clearing member to the QCCP with respect to the repo-style transactions; and DFi is the prefunded default fund contribution of each clearing member to the QCCP that is not already deducted in paragraph (d)(6)(ii) of this section. (iv) EAD must be calculated separately for each clearing member's sub-client accounts and sub-house account (i.e., for the clearing member's proprietary activities). If the clearing member's collateral and its client's collateral are held in the same default fund contribution account, then the EAD of that account is the sum of the EAD for the client-related transactions within the account and the EAD of the house-related transactions within the account. For purposes of determining such EADs, the independent collateral of the clearing member and its client must be allocated in proportion to the respective total amount of independent collateral posted by the clearing member to the QCCP. (v) If any account or sub-account contains both derivative contracts and repo-style transactions, the EAD of that account is the sum of the EAD for the derivative contracts within the account and the EAD of the repo-style transactions within the account. If independent collateral is held for an account containing both derivative contracts and repo-style transactions, then such collateral must be allocated to the derivative contracts and repo-style transactions in proportion to the respective product specific exposure amounts, calculated, excluding the effects of collateral, according to Sec. 217.132(b) for repo-style transactions and to Sec. 217.132(c)(5) for derivative contracts. (vi) Notwithstanding any other provision of paragraph (d) of this section, with the prior approval of the Board, a Board-regulated institution may determine the risk-weighted asset amount for a default fund contribution to a QCCP according to Sec. 217.35(d)(3)(ii). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 80 FR 41421, July 15, 2015; 84 FR 35269, July 22, 2019; 85 FR 4426, Jan. 24, 2020; 85 FR 57962, Sept. 17, 2020] Sec. 217.134 Guarantees and credit derivatives: PD substitution and LGD adjustment approaches. (a) Scope. (1) This section applies to wholesale exposures for which: (i) Credit risk is fully covered by an eligible guarantee or eligible credit derivative; or (ii) Credit risk is covered on a pro rata basis (that is, on a basis in which the Board-regulated institution and the protection provider share losses proportionately) by an eligible guarantee or eligible credit derivative. (2) Wholesale exposures on which there is a tranching of credit risk (reflecting at least two different levels of seniority) are securitization exposures subject to Sec. 217.141 through Sec. 217.145. (3) A Board-regulated institution may elect to recognize the credit risk mitigation benefits of an eligible guarantee or eligible credit derivative covering an exposure described in paragraph (a)(1) of this section by using the PD substitution approach or the LGD adjustment approach in paragraph (c) of this section or, if the transaction qualifies, using the double default treatment in Sec. 217.135. A Board- regulated institution's PD and LGD for the hedged exposure may not be lower than the PD and LGD floors described in Sec. 217.131(d)(2) and (d)(3). (4) If multiple eligible guarantees or eligible credit derivatives cover a single exposure described in paragraph (a)(1) of this section, a Board-regulated institution may treat the hedged exposure as multiple separate exposures each covered by a single eligible guarantee or eligible credit derivative and may calculate a separate risk-based capital requirement for each separate [[Page 562]] exposure as described in paragraph (a)(3) of this section. (5) If a single eligible guarantee or eligible credit derivative covers multiple hedged wholesale exposures described in paragraph (a)(1) of this section, a Board-regulated institution must treat each hedged exposure as covered by a separate eligible guarantee or eligible credit derivative and must calculate a separate risk-based capital requirement for each exposure as described in paragraph (a)(3) of this section. (6) A Board-regulated institution must use the same risk parameters for calculating ECL as it uses for calculating the risk-based capital requirement for the exposure. (b) Rules of recognition. (1) A Board-regulated institution may only recognize the credit risk mitigation benefits of eligible guarantees and eligible credit derivatives. (2) A Board-regulated institution may only recognize the credit risk mitigation benefits of an eligible credit derivative to hedge an exposure that is different from the credit derivative's reference exposure used for determining the derivative's cash settlement value, deliverable obligation, or occurrence of a credit event if: (i) The reference exposure ranks pari passu (that is, equally) with or is junior to the hedged exposure; and (ii) The reference exposure and the hedged exposure are exposures to the same legal entity, and legally enforceable cross-default or cross- acceleration clauses are in place to assure payments under the credit derivative are triggered when the obligor fails to pay under the terms of the hedged exposure. (c) Risk parameters for hedged exposures--(1) PD substitution approach--(i) Full coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is greater than or equal to the EAD of the hedged exposure, a Board-regulated institution may recognize the guarantee or credit derivative in determining the Board-regulated institution's risk-based capital requirement for the hedged exposure by substituting the PD associated with the rating grade of the protection provider for the PD associated with the rating grade of the obligor in the risk-based capital formula applicable to the guarantee or credit derivative in Table 1 of Sec. 217.131 and using the appropriate LGD as described in paragraph (c)(1)(iii) of this section. If the Board-regulated institution determines that full substitution of the protection provider's PD leads to an inappropriate degree of risk mitigation, the Board-regulated institution may substitute a higher PD than that of the protection provider. (ii) Partial coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and P of the guarantee or credit derivative is less than the EAD of the hedged exposure, the Board-regulated institution must treat the hedged exposure as two separate exposures (protected and unprotected) in order to recognize the credit risk mitigation benefit of the guarantee or credit derivative. (A) The Board-regulated institution must calculate its risk-based capital requirement for the protected exposure under Sec. 217.131, where PD is the protection provider's PD, LGD is determined under paragraph (c)(1)(iii) of this section, and EAD is P. If the Board- regulated institution determines that full substitution leads to an inappropriate degree of risk mitigation, the Board-regulated institution may use a higher PD than that of the protection provider. (B) The Board-regulated institution must calculate its risk-based capital requirement for the unprotected exposure under Sec. 217.131, where PD is the obligor's PD, LGD is the hedged exposure's LGD (not adjusted to reflect the guarantee or credit derivative), and EAD is the EAD of the original hedged exposure minus P. (C) The treatment in paragraph (c)(1)(ii) of this section is applicable when the credit risk of a wholesale exposure is covered on a partial pro rata basis or when an adjustment is made to the effective notional amount of the guarantee or credit derivative under paragraphs (d), (e), or (f) of this section. [[Page 563]] (iii) LGD of hedged exposures. The LGD of a hedged exposure under the PD substitution approach is equal to: (A) The lower of the LGD of the hedged exposure (not adjusted to reflect the guarantee or credit derivative) and the LGD of the guarantee or credit derivative, if the guarantee or credit derivative provides the Board-regulated institution with the option to receive immediate payout upon triggering the protection; or (B) The LGD of the guarantee or credit derivative, if the guarantee or credit derivative does not provide the Board-regulated institution with the option to receive immediate payout upon triggering the protection. (2) LGD adjustment approach--(i) Full coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is greater than or equal to the EAD of the hedged exposure, the Board-regulated institution's risk-based capital requirement for the hedged exposure is the greater of: (A) The risk-based capital requirement for the exposure as calculated under Sec. 217.131, with the LGD of the exposure adjusted to reflect the guarantee or credit derivative; or (B) The risk-based capital requirement for a direct exposure to the protection provider as calculated under Sec. 217.131, using the PD for the protection provider, the LGD for the guarantee or credit derivative, and an EAD equal to the EAD of the hedged exposure. (ii) Partial coverage. If an eligible guarantee or eligible credit derivative meets the conditions in paragraphs (a) and (b) of this section and the protection amount (P) of the guarantee or credit derivative is less than the EAD of the hedged exposure, the Board- regulated institution must treat the hedged exposure as two separate exposures (protected and unprotected) in order to recognize the credit risk mitigation benefit of the guarantee or credit derivative. (A) The Board-regulated institution's risk-based capital requirement for the protected exposure would be the greater of: (1) The risk-based capital requirement for the protected exposure as calculated under Sec. 217.131, with the LGD of the exposure adjusted to reflect the guarantee or credit derivative and EAD set equal to P; or (2) The risk-based capital requirement for a direct exposure to the guarantor as calculated under Sec. 217.131, using the PD for the protection provider, the LGD for the guarantee or credit derivative, and an EAD set equal to P. (B) The Board-regulated institution must calculate its risk-based capital requirement for the unprotected exposure under Sec. 217.131, where PD is the obligor's PD, LGD is the hedged exposure's LGD (not adjusted to reflect the guarantee or credit derivative), and EAD is the EAD of the original hedged exposure minus P. (3) M of hedged exposures. For purposes of this paragraph (c), the M of the hedged exposure is the same as the M of the exposure if it were unhedged. (d) Maturity mismatch. (1) A Board-regulated institution that recognizes an eligible guarantee or eligible credit derivative in determining its risk-based capital requirement for a hedged exposure must adjust the effective notional amount of the credit risk mitigant to reflect any maturity mismatch between the hedged exposure and the credit risk mitigant. (2) A maturity mismatch occurs when the residual maturity of a credit risk mitigant is less than that of the hedged exposure(s). (3) The residual maturity of a hedged exposure is the longest possible remaining time before the obligor is scheduled to fulfil its obligation on the exposure. If a credit risk mitigant has embedded options that may reduce its term, the Board-regulated institution (protection purchaser) must use the shortest possible residual maturity for the credit risk mitigant. If a call is at the discretion of the protection provider, the residual maturity of the credit risk mitigant is at the first call date. If the call is at the discretion of the Board-regulated institution (protection purchaser), but the terms of the arrangement at origination of the credit risk mitigant contain a positive [[Page 564]] incentive for the Board-regulated institution to call the transaction before contractual maturity, the remaining time to the first call date is the residual maturity of the credit risk mitigant.\31\ --------------------------------------------------------------------------- \31\ For example, where there is a step-up in cost in conjunction with a call feature or where the effective cost of protection increases over time even if credit quality remains the same or improves, the residual maturity of the credit risk mitigant will be the remaining time to the first call. --------------------------------------------------------------------------- (4) A credit risk mitigant with a maturity mismatch may be recognized only if its original maturity is greater than or equal to one year and its residual maturity is greater than three months. (5) When a maturity mismatch exists, the Board-regulated institution must apply the following adjustment to the effective notional amount of the credit risk mitigant: Pm = E x (t - 0.25)/(T - 0.25), where: (i) Pm = effective notional amount of the credit risk mitigant, adjusted for maturity mismatch; (ii) E = effective notional amount of the credit risk mitigant; (iii) t = the lesser of T or the residual maturity of the credit risk mitigant, expressed in years; and (iv) T = the lesser of five or the residual maturity of the hedged exposure, expressed in years. (e) Credit derivatives without restructuring as a credit event. If a Board-regulated institution recognizes an eligible credit derivative that does not include as a credit event a restructuring of the hedged exposure involving forgiveness or postponement of principal, interest, or fees that results in a credit loss event (that is, a charge-off, specific provision, or other similar debit to the profit and loss account), the Board-regulated institution must apply the following adjustment to the effective notional amount of the credit derivative: Pr = Pm x 0.60, where: (1) Pr = effective notional amount of the credit risk mitigant, adjusted for lack of restructuring event (and maturity mismatch, if applicable); and (2) Pm = effective notional amount of the credit risk mitigant adjusted for maturity mismatch (if applicable). (f) Currency mismatch. (1) If a Board-regulated institution recognizes an eligible guarantee or eligible credit derivative that is denominated in a currency different from that in which the hedged exposure is denominated, the Board-regulated institution must apply the following formula to the effective notional amount of the guarantee or credit derivative: Pc = Pr x (1 - HFX), where: (i) Pc = effective notional amount of the credit risk mitigant, adjusted for currency mismatch (and maturity mismatch and lack of restructuring event, if applicable); (ii) Pr = effective notional amount of the credit risk mitigant (adjusted for maturity mismatch and lack of restructuring event, if applicable); and (iii) HFX = haircut appropriate for the currency mismatch between the credit risk mitigant and the hedged exposure. (2) A Board-regulated institution must set HFX equal to 8 percent unless it qualifies for the use of and uses its own internal estimates of foreign exchange volatility based on a ten-business-day holding period and daily marking-to-market and remargining. A Board- regulated institution qualifies for the use of its own internal estimates of foreign exchange volatility if it qualifies for: (i) The own-estimates haircuts in Sec. 217.132(b)(2)(iii); (ii) The simple VaR methodology in Sec. 217.132(b)(3); or (iii) The internal models methodology in Sec. 217.132(d). (3) A Board-regulated institution must adjust HFX calculated in paragraph (f)(2) of this section upward if the Board- regulated institution revalues the guarantee or credit derivative less frequently than once every ten business days using the square root of time formula provided in Sec. 217.132(b)(2)(iii)(A)(2). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 78295, Dec. 30, 2014; 85 FR 4419, Jan. 24, 2020] [[Page 565]] Sec. 217.135 Guarantees and credit derivatives: double default treatment. (a) Eligibility and operational criteria for double default treatment. A Board-regulated institution may recognize the credit risk mitigation benefits of a guarantee or credit derivative covering an exposure described in Sec. 217.134(a)(1) by applying the double default treatment in this section if all the following criteria are satisfied: (1) The hedged exposure is fully covered or covered on a pro rata basis by: (i) An eligible guarantee issued by an eligible double default guarantor; or (ii) An eligible credit derivative that meets the requirements of Sec. 217.134(b)(2) and that is issued by an eligible double default guarantor. (2) The guarantee or credit derivative is: (i) An uncollateralized guarantee or uncollateralized credit derivative (for example, a credit default swap) that provides protection with respect to a single reference obligor; or (ii) An n\th\-to-default credit derivative (subject to the requirements of Sec. 217.142(m). (3) The hedged exposure is a wholesale exposure (other than a sovereign exposure). (4) The obligor of the hedged exposure is not: (i) An eligible double default guarantor or an affiliate of an eligible double default guarantor; or (ii) An affiliate of the guarantor. (5) The Board-regulated institution does not recognize any credit risk mitigation benefits of the guarantee or credit derivative for the hedged exposure other than through application of the double default treatment as provided in this section. (6) The Board-regulated institution has implemented a process (which has received the prior, written approval of the Board) to detect excessive correlation between the creditworthiness of the obligor of the hedged exposure and the protection provider. If excessive correlation is present, the Board-regulated institution may not use the double default treatment for the hedged exposure. (b) Full coverage. If a transaction meets the criteria in paragraph (a) of this section and the protection amount (P) of the guarantee or credit derivative is at least equal to the EAD of the hedged exposure, the Board-regulated institution may determine its risk-weighted asset amount for the hedged exposure under paragraph (e) of this section. (c) Partial coverage. If a transaction meets the criteria in paragraph (a) of this section and the protection amount (P) of the guarantee or credit derivative is less than the EAD of the hedged exposure, the Board-regulated institution must treat the hedged exposure as two separate exposures (protected and unprotected) in order to recognize double default treatment on the protected portion of the exposure: (1) For the protected exposure, the Board-regulated institution must set EAD equal to P and calculate its risk-weighted asset amount as provided in paragraph (e) of this section; and (2) For the unprotected exposure, the Board-regulated institution must set EAD equal to the EAD of the original exposure minus P and then calculate its risk-weighted asset amount as provided in Sec. 217.131. (d) Mismatches. For any hedged exposure to which a Board-regulated institution applies double default treatment under this part, the Board- regulated institution must make applicable adjustments to the protection amount as required in Sec. 217.134(d), (e), and (f). (e) The double default dollar risk-based capital requirement. The dollar risk-based capital requirement for a hedged exposure to which a Board-regulated institution has applied double default treatment is KDD multiplied by the EAD of the exposure. KDD is calculated according to the following formula: KDD = Ko x (0.15 + 160 x PDg), Where: (1) [[Page 566]] [GRAPHIC] [TIFF OMITTED] TR11OC13.048 (2) PDg = PD of the protection provider. (3) PDo = PD of the obligor of the hedged exposure. (4) LGDg = (i) The lower of the LGD of the hedged exposure (not adjusted to reflect the guarantee or credit derivative) and the LGD of the guarantee or credit derivative, if the guarantee or credit derivative provides the Board-regulated institution with the option to receive immediate payout on triggering the protection; or (ii) The LGD of the guarantee or credit derivative, if the guarantee or credit derivative does not provide the Board-regulated institution with the option to receive immediate payout on triggering the protection; and (5) [rho]os (asset value correlation of the obligor) is calculated according to the appropriate formula for (R) provided in Table 1 in Sec. 217.131, with PD equal to PDo. (6) b (maturity adjustment coefficient) is calculated according to the formula for b provided in Table 1 in Sec. 217.131, with PD equal to the lesser of PDo and PDg; and (7) M (maturity) is the effective maturity of the guarantee or credit derivative, which may not be less than one year or greater than five years. Sec. 217.136 Unsettled transactions. (a) Definitions. For purposes of this section: (1) Delivery-versus-payment (DvP) transaction means a securities or commodities transaction in which the buyer is obligated to make payment only if the seller has made delivery of the securities or commodities and the seller is obligated to deliver the securities or commodities only if the buyer has made payment. (2) Payment-versus-payment (PvP) transaction means a foreign exchange transaction in which each counterparty is obligated to make a final transfer of one or more currencies only if the other counterparty has made a final transfer of one or more currencies. (3) A transaction has a normal settlement period if the contractual settlement period for the transaction is equal to or less than the market standard for the instrument underlying the transaction and equal to or less than five business days. (4) The positive current exposure of a Board-regulated institution for a transaction is the difference between the transaction value at the agreed settlement price and the current market price of the transaction, if the difference results in a credit exposure of the Board-regulated institution to the counterparty. (b) Scope. This section applies to all transactions involving securities, foreign exchange instruments, and commodities that have a risk of delayed settlement or delivery. This section does not apply to: (1) Cleared transactions that are subject to daily marking-to-market and daily receipt and payment of variation margin; (2) Repo-style transactions, including unsettled repo-style transactions (which are addressed in Sec. Sec. 217.131 and 132); (3) One-way cash payments on OTC derivative contracts (which are addressed in Sec. Sec. 217. 131 and 132); or (4) Transactions with a contractual settlement period that is longer than the normal settlement period (which are treated as OTC derivative contracts and addressed in Sec. Sec. 217.131 and 132). (c) System-wide failures. In the case of a system-wide failure of a settlement or clearing system, or a central counterparty, the Board may waive risk-based capital requirements for unsettled and failed transactions until the situation is rectified. (d) Delivery-versus-payment (DvP) and payment-versus-payment (PvP) transactions. A Board-regulated institution must hold risk-based capital against any DvP or PvP transaction with a normal settlement period if the Board- [[Page 567]] regulated institution's counterparty has not made delivery or payment within five business days after the settlement date. The Board-regulated institution must determine its risk-weighted asset amount for such a transaction by multiplying the positive current exposure of the transaction for the Board-regulated institution by the appropriate risk weight in Table 1 to Sec. 217.136. Table 1 to Sec. 217.136--Risk Weights for Unsettled DvP and PvP Transactions ------------------------------------------------------------------------ Risk weight to be applied to Number of business days after contractual settlement positive date current exposure (in percent) ------------------------------------------------------------------------ From 5 to 15............................................ 100 From 16 to 30........................................... 625 From 31 to 45........................................... 937.5 46 or more.............................................. 1,250 ------------------------------------------------------------------------ (e) Non-DvP/non-PvP (non-delivery-versus-payment/non-payment-versus- payment) transactions. (1) A Board-regulated institution must hold risk- based capital against any non-DvP/non-PvP transaction with a normal settlement period if the Board-regulated institution has delivered cash, securities, commodities, or currencies to its counterparty but has not received its corresponding deliverables by the end of the same business day. The Board-regulated institution must continue to hold risk-based capital against the transaction until the Board-regulated institution has received its corresponding deliverables. (2) From the business day after the Board-regulated institution has made its delivery until five business days after the counterparty delivery is due, the Board-regulated institution must calculate its risk-based capital requirement for the transaction by treating the current fair value of the deliverables owed to the Board-regulated institution as a wholesale exposure. (i) A Board-regulated institution may use a 45 percent LGD for the transaction rather than estimating LGD for the transaction provided the Board-regulated institution uses the 45 percent LGD for all transactions described in paragraphs (e)(1) and (2) of this section. (ii) A Board-regulated institution may use a 100 percent risk weight for the transaction provided the Board-regulated institution uses this risk weight for all transactions described in paragraphs (e)(1) and (2) of this section. (3) If the Board-regulated institution has not received its deliverables by the fifth business day after the counterparty delivery was due, the Board-regulated institution must apply a 1,250 percent risk weight to the current fair value of the deliverables owed to the Board- regulated institution. (f) Total risk-weighted assets for unsettled transactions. Total risk-weighted assets for unsettled transactions is the sum of the risk- weighted asset amounts of all DvP, PvP, and non-DvP/non-PvP transactions. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 80 FR 41421, July 15, 2015] Sec. Sec. 217.137-217.140 [Reserved] Risk-Weighted Assets for Securitization Exposures Sec. 217.141 Operational criteria for recognizing the transfer of risk. (a) Operational criteria for traditional securitizations. A Board- regulated institution that transfers exposures it has originated or purchased to a securitization SPE or other third party in connection with a traditional securitization may exclude the exposures from the calculation of its risk-weighted assets only if each of the conditions in this paragraph (a) is satisfied. A Board-regulated institution that meets these conditions must hold risk-based capital against any securitization exposures it retains in connection with the securitization. A Board-regulated institution that fails to meet these conditions must hold risk-based capital against the transferred exposures as if they had not been securitized and must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from the transaction. The conditions are: (1) The exposures are not reported on the Board-regulated institution's consolidated balance sheet under GAAP; (2) The Board-regulated institution has transferred to one or more third [[Page 568]] parties credit risk associated with the underlying exposures; (3) Any clean-up calls relating to the securitization are eligible clean-up calls; and (4) The securitization does not: (i) Include one or more underlying exposures in which the borrower is permitted to vary the drawn amount within an agreed limit under a line of credit; and (ii) Contain an early amortization provision. (b) Operational criteria for synthetic securitizations. For synthetic securitizations, a Board-regulated institution may recognize for risk-based capital purposes under this subpart the use of a credit risk mitigant to hedge underlying exposures only if each of the conditions in this paragraph (b) is satisfied. A Board-regulated institution that meets these conditions must hold risk-based capital against any credit risk of the exposures it retains in connection with the synthetic securitization. A Board-regulated institution that fails to meet these conditions or chooses not to recognize the credit risk mitigant for purposes of this section must hold risk-based capital under this subpart against the underlying exposures as if they had not been synthetically securitized. The conditions are: (1) The credit risk mitigant is: (i) Financial collateral; or (ii) A guarantee that meets all of the requirements of an eligible guarantee in Sec. 217.2 except for paragraph (3) of the definition; or (iii) A credit derivative that meets all of the requirements of an eligible credit derivative except for paragraph (3) of the definition of eligible guarantee in Sec. 217.2. (2) The Board-regulated institution transfers credit risk associated with the underlying exposures to third parties, and the terms and conditions in the credit risk mitigants employed do not include provisions that: (i) Allow for the termination of the credit protection due to deterioration in the credit quality of the underlying exposures; (ii) Require the Board-regulated institution to alter or replace the underlying exposures to improve the credit quality of the underlying exposures; (iii) Increase the Board-regulated institution's cost of credit protection in response to deterioration in the credit quality of the underlying exposures; (iv) Increase the yield payable to parties other than the Board- regulated institution in response to a deterioration in the credit quality of the underlying exposures; or (v) Provide for increases in a retained first loss position or credit enhancement provided by the Board-regulated institution after the inception of the securitization; (3) The Board-regulated institution obtains a well-reasoned opinion from legal counsel that confirms the enforceability of the credit risk mitigant in all relevant jurisdictions; and (4) Any clean-up calls relating to the securitization are eligible clean-up calls. (c) Due diligence requirements for securitization exposures. (1) Except for exposures that are deducted from common equity tier 1 capital and exposures subject to Sec. 217.142(k), if a Board-regulated institution is unable to demonstrate to the satisfaction of the Board a comprehensive understanding of the features of a securitization exposure that would materially affect the performance of the exposure, the Board- regulated institution must assign a 1,250 percent risk weight to the securitization exposure. The Board-regulated institution's analysis must be commensurate with the complexity of the securitization exposure and the materiality of the position in relation to regulatory capital according to this part. (2) A Board-regulated institution must demonstrate its comprehensive understanding of a securitization exposure under paragraph (c)(1) of this section, for each securitization exposure by: (i) Conducting an analysis of the risk characteristics of a securitization exposure prior to acquiring the exposure and document such analysis within three business days after acquiring the exposure, considering: (A) Structural features of the securitization that would materially [[Page 569]] impact the performance of the exposure, for example, the contractual cash flow waterfall, waterfall-related triggers, credit enhancements, liquidity enhancements, fair value triggers, the performance of organizations that service the position, and deal-specific definitions of default; (B) Relevant information regarding the performance of the underlying credit exposure(s), for example, the percentage of loans 30, 60, and 90 days past due; default rates; prepayment rates; loans in foreclosure; property types; occupancy; average credit score or other measures of creditworthiness; average loan-to-value ratio; and industry and geographic diversification data on the underlying exposure(s); (C) Relevant market data of the securitization, for example, bid-ask spreads, most recent sales price and historical price volatility, trading volume, implied market rating, and size, depth and concentration level of the market for the securitization; and (D) For resecuritization exposures, performance information on the underlying securitization exposures, for example, the issuer name and credit quality, and the characteristics and performance of the exposures underlying the securitization exposures; and (ii) On an on-going basis (no less frequently than quarterly), evaluating, reviewing, and updating as appropriate the analysis required under this section for each securitization exposure. Sec. 217.142 Risk-based capital requirement for securitization exposures. (a) Hierarchy of approaches. Except as provided elsewhere in this section and in Sec. 217.141: (1) A Board-regulated institution must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from a securitization and must apply a 1,250 percent risk weight to the portion of any CEIO that does not constitute after tax gain-on-sale; (2) If a securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (a)(1) of this section, the Board-regulated institution must apply the supervisory formula approach in Sec. 217.143 to the exposure if the Board-regulated institution and the exposure qualify for the supervisory formula approach according to Sec. 217.143(a); (3) If a securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (a)(1) of this section and does not qualify for the supervisory formula approach, the Board- regulated institution may apply the simplified supervisory formula approach under Sec. 217.144; (4) If a securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (a)(1) of this section, does not qualify for the supervisory formula approach in Sec. 217.143, and the Board-regulated institution does not apply the simplified supervisory formula approach in Sec. 217.144, the Board-regulated institution must apply a 1,250 percent risk weight to the exposure; and (5) If a securitization exposure is a derivative contract (other than protection provided by a Board-regulated institution in the form of a credit derivative) that has a first priority claim on the cash flows from the underlying exposures (notwithstanding amounts due under interest rate or currency derivative contracts, fees due, or other similar payments), a Board-regulated institution may choose to set the risk-weighted asset amount of the exposure equal to the amount of the exposure as determined in paragraph (e) of this section rather than apply the hierarchy of approaches described in paragraphs (a)(1) through (4) of this section. (b) Total risk-weighted assets for securitization exposures. A Board-regulated institution's total risk-weighted assets for securitization exposures is equal to the sum of its risk-weighted assets calculated using Sec. Sec. 217.141 through 146. (c) Deductions. A Board-regulated institution may calculate any deduction from common equity tier 1 capital for a securitization exposure net of any DTLs associated with the securitization exposure. (d) Maximum risk-based capital requirement. Except as provided in Sec. 217.141(c), unless one or more underlying exposures does not meet the definition of a wholesale, retail, securitization, or equity exposure, the total risk-based capital requirement for all securitization [[Page 570]] exposures held by a single Board-regulated institution associated with a single securitization (excluding any risk-based capital requirements that relate to the Board-regulated institution's gain-on-sale or CEIOs associated with the securitization) may not exceed the sum of: (1) The Board-regulated institution's total risk-based capital requirement for the underlying exposures calculated under this subpart as if the Board-regulated institution directly held the underlying exposures; and (2) The total ECL of the underlying exposures calculated under this subpart. (e) Exposure amount of a securitization exposure. (1) The exposure amount of an on-balance sheet securitization exposure that is not a repo-style transaction, eligible margin loan, OTC derivative contract, or cleared transaction is the Board-regulated institution's carrying value. (2) Except as provided in paragraph (m) of this section, the exposure amount of an off-balance sheet securitization exposure that is not an OTC derivative contract (other than a credit derivative), repo- style transaction, eligible margin loan, or cleared transaction (other than a credit derivative) is the notional amount of the exposure. For an off-balance-sheet securitization exposure to an ABCP program, such as an eligible ABCP liquidity facility, the notional amount may be reduced to the maximum potential amount that the Board-regulated institution could be required to fund given the ABCP program's current underlying assets (calculated without regard to the current credit quality of those assets). (3) The exposure amount of a securitization exposure that is a repo- style transaction, eligible margin loan, or OTC derivative contract (other than a credit derivative) or cleared transaction (other than a credit derivative) is the EAD of the exposure as calculated in Sec. 217.132 or Sec. 217.133. (f) Overlapping exposures. If a Board-regulated institution has multiple securitization exposures that provide duplicative coverage of the underlying exposures of a securitization (such as when a Board- regulated institution provides a program-wide credit enhancement and multiple pool-specific liquidity facilities to an ABCP program), the Board-regulated institution is not required to hold duplicative risk- based capital against the overlapping position. Instead, the Board- regulated institution may assign to the overlapping securitization exposure the applicable risk-based capital treatment under this subpart that results in the highest risk-based capital requirement. (g) Securitizations of non-IRB exposures. Except as provided in Sec. 217.141(c), if a Board-regulated institution has a securitization exposure where any underlying exposure is not a wholesale exposure, retail exposure, securitization exposure, or equity exposure, the Board- regulated institution: (1) Must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from the securitization and apply a 1,250 percent risk weight to the portion of any CEIO that does not constitute gain-on- sale, if the Board-regulated institution is an originating Board- regulated institution; (2) May apply the simplified supervisory formula approach in Sec. 217.144 to the exposure, if the securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (g)(1) of this section; (3) Must assign a 1,250 percent risk weight to the exposure if the securitization exposure does not require deduction or a 1,250 percent risk weight under paragraph (g)(1) of this section, does not qualify for the supervisory formula approach in Sec. 217.143, and the Board- regulated institution does not apply the simplified supervisory formula approach in Sec. 217.144 to the exposure. (h) Implicit support. If a Board-regulated institution provides support to a securitization in excess of the Board-regulated institution's contractual obligation to provide credit support to the securitization (implicit support): (1) The Board-regulated institution must calculate a risk-weighted asset amount for underlying exposures associated with the securitization as if the exposures had not been securitized and must deduct from common equity tier 1 capital any after-tax gain-on-sale resulting from the securitization; and [[Page 571]] (2) The Board-regulated institution must disclose publicly: (i) That it has provided implicit support to the securitization; and (ii) The regulatory capital impact to the Board-regulated institution of providing such implicit support. (i) Undrawn portion of a servicer cash advance facility. (1) Notwithstanding any other provision of this subpart, a Board-regulated institution that is a servicer under an eligible servicer cash advance facility is not required to hold risk-based capital against potential future cash advance payments that it may be required to provide under the contract governing the facility. (2) For a Board-regulated institution that acts as a servicer, the exposure amount for a servicer cash advance facility that is not an eligible servicer cash advance facility is equal to the amount of all potential future cash advance payments that the Board-regulated institution may be contractually required to provide during the subsequent 12 month period under the contract governing the facility. (j) Interest-only mortgage-backed securities. Regardless of any other provisions in this part, the risk weight for a non-credit- enhancing interest-only mortgage-backed security may not be less than 100 percent. (k) Small-business loans and leases on personal property transferred with recourse. (1) Notwithstanding any other provisions of this subpart E, a Board-regulated institution that has transferred small-business loans and leases on personal property (small-business obligations) with recourse must include in risk-weighted assets only the contractual amount of retained recourse if all the following conditions are met: (i) The transaction is a sale under GAAP. (ii) The Board-regulated institution establishes and maintains, pursuant to GAAP, a non-capital reserve sufficient to meet the Board- regulated institution's reasonably estimated liability under the recourse arrangement. (iii) The loans and leases are to businesses that meet the criteria for a small-business concern established by the Small Business Administration under section 3(a) of the Small Business Act (15 U.S.C. 632 et seq.); and (iv)(A) In the case of a state member bank, the bank is well capitalized, as defined in section 208.43 of this chapter. For purposes of determining whether a state member bank is well capitalized for purposes of this paragraph, the state member bank's capital ratios must be calculated without regard to the capital treatment for transfers of small-business obligations with recourse specified in this paragraph (k)(1). (B) In the case of a bank holding company or savings and loan holding company, the bank holding company or savings and loan holding company is well capitalized, as defined in 12 CFR 225.2. For purposes of determining whether a bank holding company or savings and loan holding company is well capitalized for purposes of this paragraph, the bank holding company or savings and loan holding company's capital ratios must be calculated without regard to the capital treatment for transfers of small-business obligations with recourse specified in this paragraph (k)(1). (2) The total outstanding amount of recourse retained by a Board- regulated institution on transfers of small-business obligations subject to paragraph (k)(1) of this section cannot exceed 15 percent of the Board-regulated institution's total capital. (3) If a Board-regulated institution ceases to be well capitalized or exceeds the 15 percent capital limitation in paragraph (k)(2) of this section, the preferential capital treatment specified in paragraph (k)(1) of this section will continue to apply to any transfers of small- business obligations with recourse that occurred during the time that the Board-regulated institution was well capitalized and did not exceed the capital limit. (4) The risk-based capital ratios of a Board-regulated institution must be calculated without regard to the capital treatment for transfers of small-business obligations with recourse specified in paragraph (k)(1) of this section. (l) Nth-to-default credit derivatives--(1) Protection provider. A Board-regulated institution must determine a risk [[Page 572]] weight using the supervisory formula approach (SFA) pursuant to Sec. 217.143 or the simplified supervisory formula approach (SSFA) pursuant to Sec. 217.144 for an nth-to-default credit derivative in accordance with this paragraph (l). In the case of credit protection sold, a Board- regulated institution must determine its exposure in the n\th\-to- default credit derivative as the largest notional amount of all the underlying exposures. (2) For purposes of determining the risk weight for an n\th\-to- default credit derivative using the SFA or the SSFA, the Board-regulated institution must calculate the attachment point and detachment point of its exposure as follows: (i) The attachment point (parameter A) is the ratio of the sum of the notional amounts of all underlying exposures that are subordinated to the Board-regulated institution's exposure to the total notional amount of all underlying exposures. For purposes of the SSFA, parameter A is expressed as a decimal value between zero and one. For purposes of using the SFA to calculate the risk weight for its exposure in an n\th\- to-default credit derivative, parameter A must be set equal to the credit enhancement level (L) input to the SFA formula. In the case of a first-to-default credit derivative, there are no underlying exposures that are subordinated to the Board-regulated institution's exposure. In the case of a second-or-subsequent-to-default credit derivative, the smallest (n-1) risk-weighted asset amounts of the underlying exposure(s) are subordinated to the Board-regulated institution's exposure. (ii) The detachment point (parameter D) equals the sum of parameter A plus the ratio of the notional amount of the Board-regulated institution's exposure in the n\th\-to-default credit derivative to the total notional amount of all underlying exposures. For purposes of the SSFA, parameter W is expressed as a decimal value between zero and one. For purposes of the SFA, parameter D must be set to equal L plus the thickness of tranche T input to the SFA formula. (3) A Board-regulated institution that does not use the SFA or the SSFA to determine a risk weight for its exposure in an n\th\-to-default credit derivative must assign a risk weight of 1,250 percent to the exposure. (4) Protection purchaser--(i) First-to-default credit derivatives. A Board-regulated institution that obtains credit protection on a group of underlying exposures through a first-to-default credit derivative that meets the rules of recognition of Sec. 217.134(b) must determine its risk-based capital requirement under this subpart for the underlying exposures as if the Board-regulated institution synthetically securitized the underlying exposure with the lowest risk-based capital requirement and had obtained no credit risk mitigant on the other underlying exposures. A Board-regulated institution must calculate a risk-based capital requirement for counterparty credit risk according to Sec. 217.132 for a first-to-default credit derivative that does not meet the rules of recognition of Sec. 217.134(b). (ii) Second-or-subsequent-to-default credit derivatives. (A) A Board-regulated institution that obtains credit protection on a group of underlying exposures through a n\th\-to-default credit derivative that meets the rules of recognition of Sec. 217.134(b) (other than a first- to-default credit derivative) may recognize the credit risk mitigation benefits of the derivative only if: (1) The Board-regulated institution also has obtained credit protection on the same underlying exposures in the form of first- through-(n-1)-to-default credit derivatives; or (2) If n-1 of the underlying exposures have already defaulted. (B) If a Board-regulated institution satisfies the requirements of paragraph (l)(3)(ii)(A) of this section, the Board-regulated institution must determine its risk-based capital requirement for the underlying exposures as if the bank had only synthetically securitized the underlying exposure with the n\th\ smallest risk-based capital requirement and had obtained no credit risk mitigant on the other underlying exposures. (C) A Board-regulated institution must calculate a risk-based capital requirement for counterparty credit risk according to Sec. 217.132 for a n\th\-to-default credit derivative that does not [[Page 573]] meet the rules of recognition of Sec. 217.134(b). (m) Guarantees and credit derivatives other than nth-to-default credit derivatives--(1) Protection provider. For a guarantee or credit derivative (other than an n\th\-to-default credit derivative) provided by a Board-regulated institution that covers the full amount or a pro rata share of a securitization exposure's principal and interest, the Board-regulated institution must risk weight the guarantee or credit derivative as if it holds the portion of the reference exposure covered by the guarantee or credit derivative. (2) Protection purchaser. (i) A Board-regulated institution that purchases an OTC credit derivative (other than an n\th\-to-default credit derivative) that is recognized under Sec. 217.145 as a credit risk mitigant (including via recognized collateral) is not required to compute a separate counterparty credit risk capital requirement under Sec. 217.131 in accordance with Sec. 217.132(c)(3). (ii) If a Board-regulated institution cannot, or chooses not to, recognize a purchased credit derivative as a credit risk mitigant under Sec. 217.145, the Board-regulated institution must determine the exposure amount of the credit derivative under Sec. 217.132(c). (A) If the Board-regulated institution purchases credit protection from a counterparty that is not a securitization SPE, the Board- regulated institution must determine the risk weight for the exposure according Sec. 217.131. (B) If the Board-regulated institution purchases the credit protection from a counterparty that is a securitization SPE, the Board- regulated institution must determine the risk weight for the exposure according to this section, including paragraph (a)(5) of this section for a credit derivative that has a first priority claim on the cash flows from the underlying exposures of the securitization SPE (notwithstanding amounts due under interest rate or currency derivative contracts, fees due, or other similar payments. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013] Sec. 217.143 Supervisory formula approach (SFA). (a) Eligibility requirements. A Board-regulated institution must use the SFA to determine its risk-weighted asset amount for a securitization exposure if the Board-regulated institution can calculate on an ongoing basis each of the SFA parameters in paragraph (e) of this section. (b) Mechanics. The risk-weighted asset amount for a securitization exposure equals its SFA risk-based capital requirement as calculated under paragraph (c) and (d) of this section, multiplied by 12.5. (c) The SFA risk-based capital requirement. (1) If KIRB is greater than or equal to L + T, an exposure's SFA risk-based capital requirement equals the exposure amount. (2) If KIRB is less than or equal to L, an exposure's SFA risk-based capital requirement is UE multiplied by TP multiplied by the greater of: (i) F [middot] T (where F is 0.016 for all securitization exposures); or (ii) S[L + T]-S[L]. (3) If KIRB is greater than L and less than L + T, the Board-regulated institution must apply a 1,250 percent risk weight to an amount equal to UE [middot] TP (KIRB-L), and the exposure's SFA risk-based capital requirement is UE multiplied by TP multiplied by the greater of: (i) F [middot] (T-(KIRB-L)) (where F is 0.016 for all other securitization exposures); or (ii) S[L + T]-S[KIRB]. (d) The supervisory formula: [[Page 574]] [GRAPHIC] [TIFF OMITTED] TR11OC13.049 (e) SFA parameters. For purposes of the calculations in paragraphs (c) and (d) of this section: (1) Amount of the underlying exposures (UE). UE is the EAD of any underlying exposures that are wholesale and retail exposures (including the amount of any funded spread accounts, cash collateral accounts, and other similar funded credit enhancements) plus the amount of any underlying exposures that are securitization exposures (as defined in Sec. 217.142(e)) plus the adjusted carrying value of any underlying exposures that are equity exposures (as defined in Sec. 217.151(b)). (2) Tranche percentage (TP). TP is the ratio of the amount of the Board-regulated institution's securitization exposure to the amount of the tranche that contains the securitization exposure. (3) Capital requirement on underlying exposures (KIRB). (i) KIRB is the ratio of: (A) The sum of the risk-based capital requirements for the underlying exposures plus the expected credit losses of the underlying exposures (as determined under this subpart E as if the [[Page 575]] underlying exposures were directly held by the Board-regulated institution); to (B) UE. (ii) The calculation of KIRB must reflect the effects of any credit risk mitigant applied to the underlying exposures (either to an individual underlying exposure, to a group of underlying exposures, or to all of the underlying exposures). (iii) All assets related to the securitization are treated as underlying exposures, including assets in a reserve account (such as a cash collateral account). (4) Credit enhancement level (L). (i) L is the ratio of: (A) The amount of all securitization exposures subordinated to the tranche that contains the Board-regulated institution's securitization exposure; to (B) UE. (ii) A Board-regulated institution must determine L before considering the effects of any tranche-specific credit enhancements. (iii) Any gain-on-sale or CEIO associated with the securitization may not be included in L. (iv) Any reserve account funded by accumulated cash flows from the underlying exposures that is subordinated to the tranche that contains the Board-regulated institution's securitization exposure may be included in the numerator and denominator of L to the extent cash has accumulated in the account. Unfunded reserve accounts (that is, reserve accounts that are to be funded from future cash flows from the underlying exposures) may not be included in the calculation of L. (v) In some cases, the purchase price of receivables will reflect a discount that provides credit enhancement (for example, first loss protection) for all or certain tranches of the securitization. When this arises, L should be calculated inclusive of this discount if the discount provides credit enhancement for the securitization exposure. (5) Thickness of tranche (T). T is the ratio of: (i) The amount of the tranche that contains the Board-regulated institution's securitization exposure; to (ii) UE. (6) Effective number of exposures (N). (i) Unless the Board- regulated institution elects to use the formula provided in paragraph (f) of this section, [GRAPHIC] [TIFF OMITTED] TR11OC13.050 where EADi represents the EAD associated with the ith instrument in the underlying exposures. (ii) Multiple exposures to one obligor /must be treated as a single underlying exposure. (iii) In the case of a resecuritization, the Board-regulated institution must treat each underlying exposure as a single underlying exposure and must not look through to the originally securitized underlying exposures. (7) Exposure-weighted average loss given default (EWALGD). EWALGD is calculated as: [GRAPHIC] [TIFF OMITTED] TR11OC13.051 where LGDi represents the average LGD associated with all exposures to the ith obligor. In the case of a resecuritization, an LGD of 100 percent must be assumed for the underlying exposures that are themselves securitization exposures. (f) Simplified method for computing N and EWALGD. (1) If all underlying exposures of a securitization are retail exposures, a Board- regulated institution may apply the SFA using the following simplifications: (i) h = 0; and (ii) v = 0. (2) Under the conditions in Sec. Sec. 217.143(f)(3) and (f)(4), a Board-regulated institution may employ a simplified method for calculating N and EWALGD. (3) If C1 is no more than 0.03, a Board-regulated institution may set EWALGD = 0.50 if none of the underlying exposures is a securitization exposure, or may set EWALGD = 1 if one or more of the underlying exposures is a securitization exposure, and may set N equal to the following amount: [[Page 576]] [GRAPHIC] [TIFF OMITTED] TR11OC13.052 where: (i) Cm is the ratio of the sum of the amounts of the `m' largest underlying exposures to UE; and (ii) The level of m is to be selected by the Board-regulated institution. (4) Alternatively, if only C1 is available and C1 is no more than 0.03, the Board-regulated institution may set EWALGD = 0.50 if none of the underlying exposures is a securitization exposure, or may set EWALGD = 1 if one or more of the underlying exposures is a securitization exposure and may set N = 1/ C1. Sec. 217.144 Simplified supervisory formula approach (SSFA). (a) General requirements for the SSFA. To use the SSFA to determine the risk weight for a securitization exposure, a Board-regulated institution must have data that enables it to assign accurately the parameters described in paragraph (b) of this section. Data used to assign the parameters described in paragraph (b) of this section must be the most currently available data; if the contracts governing the underlying exposures of the securitization require payments on a monthly or quarterly basis, the data used to assign the parameters described in paragraph (b) of this section must be no more than 91 calendar days old. A Board-regulated institution that does not have the appropriate data to assign the parameters described in paragraph (b) of this section must assign a risk weight of 1,250 percent to the exposure. (b) SSFA parameters. To calculate the risk weight for a securitization exposure using the SSFA, a Board-regulated institution must have accurate information on the following five inputs to the SSFA calculation: (1) KG is the weighted-average (with unpaid principal used as the weight for each exposure) total capital requirement of the underlying exposures calculated using subpart D of this part. KG is expressed as a decimal value between zero and one (that is, an average risk weight of 100 percent represents a value of KG equal to 0.08). (2) Parameter W is expressed as a decimal value between zero and one. Parameter W is the ratio of the sum of the dollar amounts of any underlying exposures of the securitization that meet any of the criteria as set forth in paragraphs (b)(2)(i) through (vi) of this section to the balance, measured in dollars, of underlying exposures: (i) Ninety days or more past due; (ii) Subject to a bankruptcy or insolvency proceeding; (iii) In the process of foreclosure; (iv) Held as real estate owned; (v) Has contractually deferred payments for 90 days or more, other than principal or interest payments deferred on: (A) Federally-guaranteed student loans, in accordance with the terms of those guarantee programs; or (B) Consumer loans, including non-federally-guaranteed student loans, provided that such payments are deferred pursuant to provisions included in the contract at the time funds are disbursed that provide for period(s) of deferral that are not initiated based on changes in the creditworthiness of the borrower; or (vi) Is in default. (3) Parameter A is the attachment point for the exposure, which represents the threshold at which credit losses will first be allocated to the exposure. Except as provided in section 142(l) for n\th\-to- default credit derivatives, parameter A equals the ratio of the current dollar amount of underlying exposures that are subordinated to the exposure of the Board-regulated institution to the current dollar amount of underlying exposures. Any reserve account funded by the accumulated cash flows from the underlying exposures that is subordinated to the Board-regulated institution's [[Page 577]] securitization exposure may be included in the calculation of parameter A to the extent that cash is present in the account. Parameter A is expressed as a decimal value between zero and one. (4) Parameter D is the detachment point for the exposure, which represents the threshold at which credit losses of principal allocated to the exposure would result in a total loss of principal. Except as provided in section 142(l) for n\th\-to-default credit derivatives, parameter D equals parameter A plus the ratio of the current dollar amount of the securitization exposures that are pari passu with the exposure (that is, have equal seniority with respect to credit risk) to the current dollar amount of the underlying exposures. Parameter D is expressed as a decimal value between zero and one. (5) A supervisory calibration parameter, p, is equal to 0.5 for securitization exposures that are not resecuritization exposures and equal to 1.5 for resecuritization exposures. (c) Mechanics of the SSFA. KG and W are used to calculate KA, the augmented value of KG, which reflects the observed credit quality of the underlying exposures. KA is defined in paragraph (d) of this section. The values of parameters A and D, relative to KA determine the risk weight assigned to a securitization exposure as described in paragraph (d) of this section. The risk weight assigned to a securitization exposure, or portion of a securitization exposure, as appropriate, is the larger of the risk weight determined in accordance with this paragraph (c), paragraph (d) of this section, and a risk weight of 20 percent. (1) When the detachment point, parameter D, for a securitization exposure is less than or equal to KA, the exposure must be assigned a risk weight of 1,250 percent; (2) When the attachment point, parameter A, for a securitization exposure is greater than or equal to KA, the Board-regulated institution must calculate the risk weight in accordance with paragraph (d) of this section; (3) When A is less than KA and D is greater than KA, the risk weight is a weighted-average of 1,250 percent and 1,250 percent times KSSFA calculated in accordance with paragraph (d) of this section. For the purpose of this weighted-average calculation: [[Page 578]] [GRAPHIC] [TIFF OMITTED] TR11OC13.053 Sec. 217.145 Recognition of credit risk mitigants for securitization exposures. (a) General. An originating Board-regulated institution that has obtained a credit risk mitigant to hedge its securitization exposure to a synthetic or traditional securitization that satisfies the operational criteria in Sec. 217.141 may recognize the credit risk mitigant, but only as provided in this section. An investing Board-regulated institution that has obtained a credit risk mitigant to hedge a securitization exposure may recognize the credit risk mitigant, but only as provided in this section. (b) Collateral--(1) Rules of recognition. A Board-regulated institution may recognize financial collateral in determining the Board- regulated institution's risk-weighted asset amount for a securitization exposure (other than a repo-style transaction, an eligible margin loan, or an OTC derivative contract for which the Board-regulated institution has reflected collateral in its determination of exposure amount under Sec. 217.132) as follows. The Board-regulated institution's risk- weighted asset [[Page 579]] amount for the collateralized securitization exposure is equal to the risk-weighted asset amount for the securitization exposure as calculated under the SSFA in Sec. 217.144 or under the SFA in Sec. 217.143 multiplied by the ratio of adjusted exposure amount (SE*) to original exposure amount (SE), Where: (i) SE* = max {0, [SE-C x (1-Hs-Hfx)]{time} ; (ii) SE = the amount of the securitization exposure calculated under Sec. 217.142(e); (iii) C = the current fair value of the collateral; (iv) Hs = the haircut appropriate to the collateral type; and (v) Hfx = the haircut appropriate for any currency mismatch between the collateral and the exposure. [GRAPHIC] [TIFF OMITTED] TR11OC13.054 (3) Standard supervisory haircuts. Unless a Board-regulated institution qualifies for use of and uses own-estimates haircuts in paragraph (b)(4) of this section: (i) A Board-regulated institution must use the collateral type haircuts (Hs) in Table 1 to Sec. 217.132 of this subpart; (ii) A Board-regulated institution must use a currency mismatch haircut (Hfx) of 8 percent if the exposure and the collateral are denominated in different currencies; (iii) A Board-regulated institution must multiply the supervisory haircuts obtained in paragraphs (b)(3)(i) and (ii) of this section by the square root of 6.5 (which equals 2.549510); and (iv) A Board-regulated institution must adjust the supervisory haircuts upward on the basis of a holding period longer than 65 business days where and as appropriate to take into account the illiquidity of the collateral. (4) Own estimates for haircuts. With the prior written approval of the Board, a Board-regulated institution may calculate haircuts using its own internal estimates of market price volatility and foreign exchange volatility, subject to Sec. 217.132(b)(2)(iii). The minimum holding period (TM) for securitization exposures is 65 business days. (c) Guarantees and credit derivatives--(1) Limitations on recognition. A Board-regulated institution may only recognize an eligible guarantee or eligible credit derivative provided by an eligible guarantor in determining the Board-regulated institution's risk-weighted asset amount for a securitization exposure. (2) ECL for securitization exposures. When a Board-regulated institution recognizes an eligible guarantee or eligible credit derivative provided by an eligible guarantor in determining the Board- regulated institution's risk-weighted asset amount for a securitization exposure, the Board-regulated institution must also: (i) Calculate ECL for the protected portion of the exposure using the same risk parameters that it uses for calculating the risk-weighted asset amount of the exposure as described in paragraph (c)(3) of this section; and (ii) Add the exposure's ECL to the Board-regulated institution's total ECL. (3) Rules of recognition. A Board-regulated institution may recognize an eligible guarantee or eligible credit derivative provided by an eligible guarantor [[Page 580]] in determining the Board-regulated institution's risk-weighted asset amount for the securitization exposure as follows: (i) Full coverage. If the protection amount of the eligible guarantee or eligible credit derivative equals or exceeds the amount of the securitization exposure, the Board-regulated institution may set the risk-weighted asset amount for the securitization exposure equal to the risk-weighted asset amount for a direct exposure to the eligible guarantor (as determined in the wholesale risk weight function described in Sec. 217.131), using the Board-regulated institution's PD for the guarantor, the Board-regulated institution's LGD for the guarantee or credit derivative, and an EAD equal to the amount of the securitization exposure (as determined in Sec. 217.142(e)). (ii) Partial coverage. If the protection amount of the eligible guarantee or eligible credit derivative is less than the amount of the securitization exposure, the Board-regulated institution may set the risk-weighted asset amount for the securitization exposure equal to the sum of: (A) Covered portion. The risk-weighted asset amount for a direct exposure to the eligible guarantor (as determined in the wholesale risk weight function described in Sec. 217.131), using the Board-regulated institution's PD for the guarantor, the Board-regulated institution's LGD for the guarantee or credit derivative, and an EAD equal to the protection amount of the credit risk mitigant; and (B) Uncovered portion. (1) 1.0 minus the ratio of the protection amount of the eligible guarantee or eligible credit derivative to the amount of the securitization exposure); multiplied by (2) The risk-weighted asset amount for the securitization exposure without the credit risk mitigant (as determined in Sec. Sec. 217.142 through 146). (4) Mismatches. The Board-regulated institution must make applicable adjustments to the protection amount as required in Sec. 217.134(d), (e), and (f) for any hedged securitization exposure and any more senior securitization exposure that benefits from the hedge. In the context of a synthetic securitization, when an eligible guarantee or eligible credit derivative covers multiple hedged exposures that have different residual maturities, the Board-regulated institution must use the longest residual maturity of any of the hedged exposures as the residual maturity of all the hedged exposures. Sec. Sec. 217.146-217.150 [Reserved] Risk-Weighted Assets for Equity Exposures Sec. 217.151 Introduction and exposure measurement. (a) General. (1) To calculate its risk-weighted asset amounts for equity exposures that are not equity exposures to investment funds, a Board-regulated institution may apply either the Simple Risk Weight Approach (SRWA) in Sec. 217.152 or, if it qualifies to do so, the Internal Models Approach (IMA) in Sec. 217.153. A Board-regulated institution must use the look-through approaches provided in Sec. 217.154 to calculate its risk-weighted asset amounts for equity exposures to investment funds. (2) A Board-regulated institution must treat an investment in a separate account (as defined in Sec. 217.2), as if it were an equity exposure to an investment fund as provided in Sec. 217.154. (3) Stable value protection. (i) Stable value protection means a contract where the provider of the contract is obligated to pay: (A) The policy owner of a separate account an amount equal to the shortfall between the fair value and cost basis of the separate account when the policy owner of the separate account surrenders the policy, or (B) The beneficiary of the contract an amount equal to the shortfall between the fair value and book value of a specified portfolio of assets. (ii) A Board-regulated institution that purchases stable value protection on its investment in a separate account must treat the portion of the carrying value of its investment in the separate account attributable to the stable value protection as an exposure to the provider of the protection and the remaining portion of the carrying value of its separate account as an equity exposure to an investment fund. (iii) A Board-regulated institution that provides stable value protection [[Page 581]] must treat the exposure as an equity derivative with an adjusted carrying value determined as the sum of Sec. 217.151(b)(1) and (2). (b) Adjusted carrying value. For purposes of this subpart, the adjusted carrying value of an equity exposure is: (1) For the on-balance sheet component of an equity exposure, the Board-regulated institution's carrying value of the exposure; (2) For the off-balance sheet component of an equity exposure, the effective notional principal amount of the exposure, the size of which is equivalent to a hypothetical on-balance sheet position in the underlying equity instrument that would evidence the same change in fair value (measured in dollars) for a given small change in the price of the underlying equity instrument, minus the adjusted carrying value of the on-balance sheet component of the exposure as calculated in paragraph (b)(1) of this section. (3) For unfunded equity commitments that are unconditional, the effective notional principal amount is the notional amount of the commitment. For unfunded equity commitments that are conditional, the effective notional principal amount is the Board-regulated institution's best estimate of the amount that would be funded under economic downturn conditions. Sec. 217.152 Simple risk weight approach (SRWA). (a) General. Under the SRWA, a Board-regulated institution's aggregate risk-weighted asset amount for its equity exposures is equal to the sum of the risk-weighted asset amounts for each of the Board- regulated institution's individual equity exposures (other than equity exposures to an investment fund) as determined in this section and the risk-weighted asset amounts for each of the Board-regulated institution's individual equity exposures to an investment fund as determined in Sec. 217.154. (b) SRWA computation for individual equity exposures. A Board- regulated institution must determine the risk-weighted asset amount for an individual equity exposure (other than an equity exposure to an investment fund) by multiplying the adjusted carrying value of the equity exposure or the effective portion and ineffective portion of a hedge pair (as defined in paragraph (c) of this section) by the lowest applicable risk weight in this section. (1) Zero percent risk weight equity exposures. An equity exposure to an entity whose credit exposures are exempt from the 0.03 percent PD floor in Sec. 217.131(d)(2) is assigned a zero percent risk weight. (2) 20 percent risk weight equity exposures. An equity exposure to a Federal Home Loan Bank or the Federal Agricultural Mortgage Corporation (Farmer Mac) is assigned a 20 percent risk weight. (3) 100 percent risk weight equity exposures. The following equity exposures are assigned a 100 percent risk weight: (i) Community development equity exposures. (A) For state member banks and bank holding companies, an equity exposure that qualifies as a community development investment under 12 U.S.C. 24 (Eleventh), excluding equity exposures to an unconsolidated small business investment company and equity exposures held through a consolidated small business investment company described in section 302 of the Small Business Investment Act of 1958 (15 U.S.C. 682). (B) For savings and loan holding companies, an equity exposure that is designed primarily to promote community welfare, including the welfare of low- and moderate-income communities or families, such as by providing services or employment, and excluding equity exposures to an unconsolidated small business investment company and equity exposures held through a small business investment company described in section 302 of the Small Business Investment Act of 1958 (15 U.S.C. 682). (ii) Effective portion of hedge pairs. The effective portion of a hedge pair. (iii) Non-significant equity exposures. Equity exposures, excluding significant investments in the capital of an unconsolidated institution in the form of common stock and exposures to an investment firm that would meet the definition of a traditional securitization were it not for the Board's application of paragraph (8) of that definition in [[Page 582]] Sec. 217.2 and has greater than immaterial leverage, to the extent that the aggregate adjusted carrying value of the exposures does not exceed 10 percent of the Board-regulated institution's total capital. (A) To compute the aggregate adjusted carrying value of a Board- regulated institution's equity exposures for purposes of this section, the Board-regulated institution may exclude equity exposures described in paragraphs (b)(1), (b)(2), (b)(3)(i), and (b)(3)(ii) of this section, the equity exposure in a hedge pair with the smaller adjusted carrying value, and a proportion of each equity exposure to an investment fund equal to the proportion of the assets of the investment fund that are not equity exposures or that meet the criterion of paragraph (b)(3)(i) of this section. If a Board-regulated institution does not know the actual holdings of the investment fund, the Board-regulated institution may calculate the proportion of the assets of the fund that are not equity exposures based on the terms of the prospectus, partnership agreement, or similar contract that defines the fund's permissible investments. If the sum of the investment limits for all exposure classes within the fund exceeds 100 percent, the Board-regulated institution must assume for purposes of this section that the investment fund invests to the maximum extent possible in equity exposures. (B) When determining which of a Board-regulated institution's equity exposures qualifies for a 100 percent risk weight under this section, a Board-regulated institution first must include equity exposures to unconsolidated small business investment companies or held through consolidated small business investment companies described in section 302 of the Small Business Investment Act, then must include publicly traded equity exposures (including those held indirectly through investment funds), and then must include non-publicly traded equity exposures (including those held indirectly through investment funds). (4) 250 percent risk weight equity exposures. Significant investments in the capital of unconsolidated financial institutions in the form of common stock that are not deducted from capital pursuant to Sec. 217.22(b)(4) are assigned a 250 percent risk weight. (5) 300 percent risk weight equity exposures. A publicly traded equity exposure (other than an equity exposure described in paragraph (b)(7) of this section and including the ineffective portion of a hedge pair) is assigned a 300 percent risk weight. (6) 400 percent risk weight equity exposures. An equity exposure (other than an equity exposure described in paragraph (b)(7) of this section) that is not publicly traded is assigned a 400 percent risk weight. (7) 600 percent risk weight equity exposures. An equity exposure to an investment firm that: (i) Would meet the definition of a traditional securitization were it not for the Board's application of paragraph (8) of that definition in Sec. 217.2; and (ii) Has greater than immaterial leverage is assigned a 600 percent risk weight. (c) Hedge transactions--(1) Hedge pair. A hedge pair is two equity exposures that form an effective hedge so long as each equity exposure is publicly traded or has a return that is primarily based on a publicly traded equity exposure. (2) Effective hedge. Two equity exposures form an effective hedge if the exposures either have the same remaining maturity or each has a remaining maturity of at least three months; the hedge relationship is formally documented in a prospective manner (that is, before the Board- regulated institution acquires at least one of the equity exposures); the documentation specifies the measure of effectiveness (E) the Board- regulated institution will use for the hedge relationship throughout the life of the transaction; and the hedge relationship has an E greater than or equal to 0.8. A Board-regulated institution must measure E at least quarterly and must use one of three alternative measures of E: (i) Under the dollar-offset method of measuring effectiveness, the Board-regulated institution must determine the ratio of value change (RVC). The RVC is the ratio of the cumulative sum of the periodic changes in value of one equity exposure to the cumulative sum of [[Page 583]] the periodic changes in the value of the other equity exposure. If RVC is positive, the hedge is not effective and E equals zero. If RVC is negative and greater than or equal to -1 (that is, between zero and -1), then E equals the absolute value of RVC. If RVC is negative and less than -1, then E equals 2 plus RVC. (ii) Under the variability-reduction method of measuring effectiveness: [GRAPHIC] [TIFF OMITTED] TR11OC13.055 (iii) Under the regression method of measuring effectiveness, E equals the coefficient of determination of a regression in which the change in value of one exposure in a hedge pair is the dependent variable and the change in value of the other exposure in a hedge pair is the independent variable. However, if the estimated regression coefficient is positive, then the value of E is zero. (3) The effective portion of a hedge pair is E multiplied by the greater of the adjusted carrying values of the equity exposures forming a hedge pair. (4) The ineffective portion of a hedge pair is (1-E) multiplied by the greater of the adjusted carrying values of the equity exposures forming a hedge pair. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013; 84 FR 35269, July 22, 2019] Sec. 217.153 Internal models approach (IMA). (a) General. A Board-regulated institution may calculate its risk- weighted asset amount for equity exposures using the IMA by modeling publicly traded and non-publicly traded equity exposures (in accordance with paragraph (c) of this section) or by modeling only publicly traded equity exposures (in accordance with paragraphs (c) and (d) of this section). (b) Qualifying criteria. To qualify to use the IMA to calculate risk-weighted assets for equity exposures, a Board-regulated institution must receive prior written approval from the Board. To receive such approval, the Board-regulated institution must demonstrate to the Board's satisfaction that the Board-regulated institution meets the following criteria: (1) The Board-regulated institution must have one or more models that: (i) Assess the potential decline in value of its modeled equity exposures; (ii) Are commensurate with the size, complexity, and composition of the Board-regulated institution's modeled equity exposures; and (iii) Adequately capture both general market risk and idiosyncratic risk. (2) The Board-regulated institution's model must produce an estimate of potential losses for its modeled equity exposures that is no less than the estimate of potential losses produced by a VaR methodology employing a 99th [[Page 584]] percentile one-tailed confidence interval of the distribution of quarterly returns for a benchmark portfolio of equity exposures comparable to the Board-regulated institution's modeled equity exposures using a long-term sample period. (3) The number of risk factors and exposures in the sample and the data period used for quantification in the Board-regulated institution's model and benchmarking exercise must be sufficient to provide confidence in the accuracy and robustness of the Board-regulated institution's estimates. (4) The Board-regulated institution's model and benchmarking process must incorporate data that are relevant in representing the risk profile of the Board-regulated institution's modeled equity exposures, and must include data from at least one equity market cycle containing adverse market movements relevant to the risk profile of the Board-regulated institution's modeled equity exposures. In addition, the Board-regulated institution's benchmarking exercise must be based on daily market prices for the benchmark portfolio. If the Board-regulated institution's model uses a scenario methodology, the Board-regulated institution must demonstrate that the model produces a conservative estimate of potential losses on the Board-regulated institution's modeled equity exposures over a relevant long-term market cycle. If the Board-regulated institution employs risk factor models, the Board-regulated institution must demonstrate through empirical analysis the appropriateness of the risk factors used. (5) The Board-regulated institution must be able to demonstrate, using theoretical arguments and empirical evidence, that any proxies used in the modeling process are comparable to the Board-regulated institution's modeled equity exposures and that the Board-regulated institution has made appropriate adjustments for differences. The Board- regulated institution must derive any proxies for its modeled equity exposures and benchmark portfolio using historical market data that are relevant to the Board-regulated institution's modeled equity exposures and benchmark portfolio (or, where not, must use appropriately adjusted data), and such proxies must be robust estimates of the risk of the Board-regulated institution's modeled equity exposures. (c) Risk-weighted assets calculation for a Board-regulated institution using the IMA for publicly traded and non-publicly traded equity exposures. If a Board-regulated institution models publicly traded and non-publicly traded equity exposures, the Board-regulated institution's aggregate risk-weighted asset amount for its equity exposures is equal to the sum of: (1) The risk-weighted asset amount of each equity exposure that qualifies for a 0 percent, 20 percent, or 100 percent risk weight under Sec. 217.152(b)(1) through (b)(3)(i) (as determined under Sec. 217.152) and each equity exposure to an investment fund (as determined under Sec. 217.154); and (2) The greater of: (i) The estimate of potential losses on the Board-regulated institution's equity exposures (other than equity exposures referenced in paragraph (c)(1) of this section) generated by the Board-regulated institution's internal equity exposure model multiplied by 12.5; or (ii) The sum of: (A) 200 percent multiplied by the aggregate adjusted carrying value of the Board-regulated institution's publicly traded equity exposures that do not belong to a hedge pair, do not qualify for a 0 percent, 20 percent, or 100 percent risk weight under Sec. 217.152(b)(1) through (b)(3)(i), and are not equity exposures to an investment fund; (B) 200 percent multiplied by the aggregate ineffective portion of all hedge pairs; and (C) 300 percent multiplied by the aggregate adjusted carrying value of the Board-regulated institution's equity exposures that are not publicly traded, do not qualify for a 0 percent, 20 percent, or 100 percent risk weight under Sec. 217.152(b)(1) through (b)(3)(i), and are not equity exposures to an investment fund. (d) Risk-weighted assets calculation for a Board-regulated institution using the IMA only for publicly traded equity exposures. If a Board-regulated institution [[Page 585]] models only publicly traded equity exposures, the Board-regulated institution's aggregate risk-weighted asset amount for its equity exposures is equal to the sum of: (1) The risk-weighted asset amount of each equity exposure that qualifies for a 0 percent, 20 percent, or 100 percent risk weight under Sec. Sec. 217.152(b)(1) through (b)(3)(i) (as determined under Sec. 217.152), each equity exposure that qualifies for a 400 percent risk weight under Sec. 217.152(b)(5) or a 600 percent risk weight under Sec. 217.152(b)(6) (as determined under Sec. 217.152), and each equity exposure to an investment fund (as determined under Sec. 217.154); and (2) The greater of: (i) The estimate of potential losses on the Board-regulated institution's equity exposures (other than equity exposures referenced in paragraph (d)(1) of this section) generated by the Board-regulated institution's internal equity exposure model multiplied by 12.5; or (ii) The sum of: (A) 200 percent multiplied by the aggregate adjusted carrying value of the Board-regulated institution's publicly traded equity exposures that do not belong to a hedge pair, do not qualify for a 0 percent, 20 percent, or 100 percent risk weight under Sec. 217.152(b)(1) through (b)(3)(i), and are not equity exposures to an investment fund; and (B) 200 percent multiplied by the aggregate ineffective portion of all hedge pairs. Sec. 217.154 Equity exposures to investment funds. (a) Available approaches. (1) Unless the exposure meets the requirements for a community development equity exposure in Sec. 217.152(b)(3)(i), a Board-regulated institution must determine the risk- weighted asset amount of an equity exposure to an investment fund under the full look-through approach in paragraph (b) of this section, the simple modified look-through approach in paragraph (c) of this section, or the alternative modified look-through approach in paragraph (d) of this section. (2) The risk-weighted asset amount of an equity exposure to an investment fund that meets the requirements for a community development equity exposure in Sec. 217.152(b)(3)(i) is its adjusted carrying value. (3) If an equity exposure to an investment fund is part of a hedge pair and the Board-regulated institution does not use the full look- through approach, the Board-regulated institution may use the ineffective portion of the hedge pair as determined under Sec. 217.152(c) as the adjusted carrying value for the equity exposure to the investment fund. The risk-weighted asset amount of the effective portion of the hedge pair is equal to its adjusted carrying value. (b) Full look-through approach. A Board-regulated institution that is able to calculate a risk-weighted asset amount for its proportional ownership share of each exposure held by the investment fund (as calculated under this subpart E of this part as if the proportional ownership share of each exposure were held directly by the Board- regulated institution) may either: (1) Set the risk-weighted asset amount of the Board-regulated institution's exposure to the fund equal to the product of: (i) The aggregate risk-weighted asset amounts of the exposures held by the fund as if they were held directly by the Board-regulated institution; and (ii) The Board-regulated institution's proportional ownership share of the fund; or (2) Include the Board-regulated institution's proportional ownership share of each exposure held by the fund in the Board-regulated institution's IMA. (c) Simple modified look-through approach. Under this approach, the risk-weighted asset amount for a Board-regulated institution's equity exposure to an investment fund equals the adjusted carrying value of the equity exposure multiplied by the highest risk weight assigned according to subpart D of this part that applies to any exposure the fund is permitted to hold under its prospectus, partnership agreement, or similar contract that defines the fund's permissible investments (excluding derivative contracts that are used for hedging rather than speculative purposes and that do not constitute a material portion of the fund's exposures). (d) Alternative modified look-through approach. Under this approach, a Board-regulated institution may assign [[Page 586]] the adjusted carrying value of an equity exposure to an investment fund on a pro rata basis to different risk weight categories assigned according to subpart D of this part based on the investment limits in the fund's prospectus, partnership agreement, or similar contract that defines the fund's permissible investments. The risk-weighted asset amount for the Board-regulated institution's equity exposure to the investment fund equals the sum of each portion of the adjusted carrying value assigned to an exposure class multiplied by the applicable risk weight. If the sum of the investment limits for all exposure types within the fund exceeds 100 percent, the Board-regulated institution must assume that the fund invests to the maximum extent permitted under its investment limits in the exposure type with the highest risk weight under subpart D of this part, and continues to make investments in order of the exposure type with the next highest risk weight under subpart D of this part until the maximum total investment level is reached. If more than one exposure type applies to an exposure, the Board-regulated institution must use the highest applicable risk weight. A Board- regulated institution may exclude derivative contracts held by the fund that are used for hedging rather than for speculative purposes and do not constitute a material portion of the fund's exposures. Sec. 217.155 Equity derivative contracts. (a) Under the IMA, in addition to holding risk-based capital against an equity derivative contract under this part, a Board-regulated institution must hold risk-based capital against the counterparty credit risk in the equity derivative contract by also treating the equity derivative contract as a wholesale exposure and computing a supplemental risk-weighted asset amount for the contract under Sec. 217.132. (b) Under the SRWA, a Board-regulated institution may choose not to hold risk-based capital against the counterparty credit risk of equity derivative contracts, as long as it does so for all such contracts. Where the equity derivative contracts are subject to a qualified master netting agreement, a Board-regulated institution using the SRWA must either include all or exclude all of the contracts from any measure used to determine counterparty credit risk exposure. Sec. Sec. 217.156-217.160 [Reserved] Risk-Weighted Assets for Operational Risk Sec. 217.161 Qualification requirements for incorporation of operational risk mitigants. (a) Qualification to use operational risk mitigants. A Board- regulated institution may adjust its estimate of operational risk exposure to reflect qualifying operational risk mitigants if: (1) The Board-regulated institution's operational risk quantification system is able to generate an estimate of the Board- regulated institution's operational risk exposure (which does not incorporate qualifying operational risk mitigants) and an estimate of the Board-regulated institution's operational risk exposure adjusted to incorporate qualifying operational risk mitigants; and (2) The Board-regulated institution's methodology for incorporating the effects of insurance, if the Board-regulated institution uses insurance as an operational risk mitigant, captures through appropriate discounts to the amount of risk mitigation: (i) The residual term of the policy, where less than one year; (ii) The cancellation terms of the policy, where less than one year; (iii) The policy's timeliness of payment; (iv) The uncertainty of payment by the provider of the policy; and (v) Mismatches in coverage between the policy and the hedged operational loss event. (b) Qualifying operational risk mitigants. Qualifying operational risk mitigants are: (1) Insurance that: (i) Is provided by an unaffiliated company that the Board-regulated institution deems to have strong capacity to meet its claims payment obligations and the obligor rating category to which the Board-regulated institution assigns the company is assigned a PD equal to or less than 10 basis points; [[Page 587]] (ii) Has an initial term of at least one year and a residual term of more than 90 days; (iii) Has a minimum notice period for cancellation by the provider of 90 days; (iv) Has no exclusions or limitations based upon regulatory action or for the receiver or liquidator of a failed depository institution; and (v) Is explicitly mapped to a potential operational loss event; (2) Operational risk mitigants other than insurance for which the Board has given prior written approval. In evaluating an operational risk mitigant other than insurance, the Board will consider whether the operational risk mitigant covers potential operational losses in a manner equivalent to holding total capital. Sec. 217.162 Mechanics of risk-weighted asset calculation. (a) If a Board-regulated institution does not qualify to use or does not have qualifying operational risk mitigants, the Board-regulated institution's dollar risk-based capital requirement for operational risk is its operational risk exposure minus eligible operational risk offsets (if any). (b) If a Board-regulated institution qualifies to use operational risk mitigants and has qualifying operational risk mitigants, the Board- regulated institution's dollar risk-based capital requirement for operational risk is the greater of: (1) The Board-regulated institution's operational risk exposure adjusted for qualifying operational risk mitigants minus eligible operational risk offsets (if any); or (2) 0.8 multiplied by the difference between: (i) The Board-regulated institution's operational risk exposure; and (ii) Eligible operational risk offsets (if any). (c) The Board-regulated institution's risk-weighted asset amount for operational risk equals the Board-regulated institution's dollar risk- based capital requirement for operational risk determined under sections 162(a) or (b) multiplied by 12.5. Sec. Sec. 217.163-217.170 [Reserved] Disclosures Sec. 217.171 Purpose and scope. Sec. Sec. 217.171 through 217.173 establish public disclosure requirements related to the capital requirements of a Board-regulated institution that is an advanced approaches Board-regulated institution. Sec. 217.172 Disclosure requirements. (a) A Board-regulated institution that is an advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to section 121(d) of subpart E of this part must publicly disclose each quarter its total and tier 1 risk-based capital ratios and their components as calculated under this subpart (that is, common equity tier 1 capital, additional tier 1 capital, tier 2 capital, total qualifying capital, and total risk-weighted assets). (b) A Board-regulated institution that is an advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to section 121(d) of subpart E of this part must comply with paragraph (c) of this section unless it is a consolidated subsidiary of a bank holding company, savings and loan holding company, or depository institution that is subject to these disclosure requirements or a subsidiary of a non-U.S. banking organization that is subject to comparable public disclosure requirements in its home jurisdiction. (c)(1) A Board-regulated institution described in paragraph (b) of this section must provide timely public disclosures each calendar quarter of the information in the applicable tables in Sec. 217.173. If a significant change occurs, such that the most recent reported amounts are no longer reflective of the Board-regulated institution's capital adequacy and risk profile, then a brief discussion of this change and its likely impact must be disclosed as soon as practicable thereafter. Qualitative disclosures that typically do not change each quarter (for example, a general [[Page 588]] summary of the Board-regulated institution's risk management objectives and policies, reporting system, and definitions) may be disclosed annually after the end of the fourth calendar quarter, provided that any significant changes to these are disclosed in the interim. Management may provide all of the disclosures required by this subpart in one place on the Board-regulated institution's public Web site or may provide the disclosures in more than one public financial report or other regulatory reports, provided that the Board-regulated institution publicly provides a summary table specifically indicating the location(s) of all such disclosures. (2) A Board-regulated institution described in paragraph (b) of this section must have a formal disclosure policy approved by the board of directors that addresses its approach for determining the disclosures it makes. The policy must address the associated internal controls and disclosure controls and procedures. The board of directors and senior management are responsible for establishing and maintaining an effective internal control structure over financial reporting, including the disclosures required by this subpart, and must ensure that appropriate review of the disclosures takes place. One or more senior officers of the Board-regulated institution must attest that the disclosures meet the requirements of this subpart. (3) If a Board-regulated institution described in paragraph (b) of this section believes that disclosure of specific commercial or financial information would prejudice seriously its position by making public information that is either proprietary or confidential in nature, the Board-regulated institution is not required to disclose those specific items, but must disclose more general information about the subject matter of the requirement, together with the fact that, and the reason why, the specific items of information have not been disclosed. (d)(1) A Board-regulated institution that meets any of the criteria in Sec. 217.100(b)(1) before January 1, 2015, must publicly disclose each quarter its supplementary leverage ratio and the components thereof (that is, tier 1 capital and total leverage exposure) as calculated under subpart B of this part, beginning with the first quarter in 2015. This disclosure requirement applies without regard to whether the Board- regulated institution has completed the parallel run process and received notification from the Board pursuant to Sec. 217.121(d). (2) A Board-regulated that meets any of the criteria in Sec. 217.100(b)(1) on or after January 1, 2015, or a Category III Board- regulated institution must publicly disclose each quarter its supplementary leverage ratio and the components thereof (that is, tier 1 capital and total leverage exposure) as calculated under subpart B of this part beginning with the calendar quarter immediately following the quarter in which the Board-regulated institution becomes an advanced approaches Board-regulated institution or a Category III Board-regulated institution. This disclosure requirement applies without regard to whether the Board-regulated institution has completed the parallel run process and has received notification from the Board pursuant to Sec. 217.121(d). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 57746, Sept. 26, 2014; 80 FR 41421, July 15, 2015; 84 FR 59271, Nov. 1, 2019] Sec. 217.173 Disclosures by certain advanced approaches Board-regulated institutions and Category III Board-regulated institutions. (a)(1) An advanced approaches Board-regulated institution described in Sec. 217.172(b) must make the disclosures described in Tables 1 through 12 to Sec. 217.173. (2) An advanced approaches Board-regulated institution and a Category III Board-regulated institution that is required to publicly disclose its supplementary leverage ratio pursuant to Sec. 217.172(d) must make the disclosures required under Table 13 to this section unless the Board-regulated institution is a consolidated subsidiary of a bank holding company, savings and loan holding company, or depository institution that is subject to these disclosure requirements or a subsidiary of a non-U.S. banking organization that is subject to comparable public disclosure requirements in its home jurisdiction. [[Page 589]] (3) The disclosures described in Tables 1 through 12 to Sec. 217.173 must be made publicly available for twelve consecutive quarters beginning on January 1, 2014, or a shorter period, as applicable, for the quarters after the Board-regulated institution has completed the parallel run process and received notification from the Board pursuant to Sec. 217.121(d). The disclosures described in Table 13 to Sec. 217.173 must be made publicly available for twelve consecutive quarters beginning on January 1, 2015, or a shorter period, as applicable, for the quarters after the Board-regulated institution becomes subject to the disclosure of the supplementary leverage ratio pursuant to Sec. 217.172(d) and Sec. 217.173(a)(2). Table 1 to Sec. 217.173--Scope of Application ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The name of the top corporate entity in the group to which subpart E of this part applies. (b)........................ A brief description of the differences in the basis for consolidating entities\1\ for accounting and regulatory purposes, with a description of those entities: (1) That are fully consolidated; (2) That are deconsolidated and deducted from total capital; (3) For which the total capital requirement is deducted; and (4) That are neither consolidated nor deducted (for example, where the investment in the entity is assigned a risk weight in accordance with this subpart). (c)........................ Any restrictions, or other major impediments, on transfer of funds or total capital within the group. Quantitative disclosures................ (d)........................ The aggregate amount of surplus capital of insurance subsidiaries included in the total capital of the consolidated group. (e)........................ The aggregate amount by which actual total capital is less than the minimum total capital requirement in all subsidiaries, with total capital requirements and the name(s) of the subsidiaries with such deficiencies. ---------------------------------------------------------------------------------------------------------------- \1\ Such entities include securities, insurance and other financial subsidiaries, commercial subsidiaries (where permitted), and significant minority equity investments in insurance, financial and commercial entities. Table 2 to Sec. 217.173--Capital Structure ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ Summary information on the terms and conditions of the main features of all regulatory capital instruments. Quantitative disclosures................ (b)........................ The amount of common equity tier 1 capital, with separate disclosure of: (1) Common stock and related surplus; (2) Retained earnings; (3) Common equity minority interest; (4) AOCI (net of tax) and other reserves; and (5) Regulatory adjustments and deductions made to common equity tier 1 capital. (c)........................ The amount of tier 1 capital, with separate disclosure of: (1) Additional tier 1 capital elements, including additional tier 1 capital instruments and tier 1 minority interest not included in common equity tier 1 capital; and (2) Regulatory adjustments and deductions made to tier 1 capital. (d)........................ The amount of total capital, with separate disclosure of: (1) Tier 2 capital elements, including tier 2 capital instruments and total capital minority interest not included in tier 1 capital; and (2) Regulatory adjustments and deductions made to total capital. (e)........................ (1) Whether the Board-regulated institution has elected to phase in recognition of the transitional amounts as defined in Sec. 217.300(f). (2) The Board-regulated institution's common equity tier 1 capital, tier 1 capital, and total capital without including the transitional amounts as defined in Sec. 217.300(f). ---------------------------------------------------------------------------------------------------------------- Table 3 to Sec. 217.173--Capital Adequacy ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ A summary discussion of the Board- regulated institution's approach to assessing the adequacy of its capital to support current and future activities. Quantitative disclosures................ (b)........................ Risk-weighted assets for credit risk from: (1) Wholesale exposures; (2) Residential mortgage exposures; (3) Qualifying revolving exposures; (4) Other retail exposures; (5) Securitization exposures; (6) Equity exposures: (7) Equity exposures subject to the simple risk weight approach; and (8) Equity exposures subject to the internal models approach. (c)........................ Standardized market risk-weighted assets and advanced market risk-weighted assets as calculated under subpart F of this part: (1) Standardized approach for specific risk; and (2) Internal models approach for specific risk. [[Page 590]] (d)........................ Risk-weighted assets for operational risk. (e)........................ (1) Common equity tier 1, tier 1 and total risk-based capital ratios reflecting the transition provisions described in Sec. 217.300(f): (A) For the top consolidated group; and (2) For each depository institution subsidiary. (f)........................ Common equity tier 1, tier 1 and total risk-based capital ratios reflecting the full adoption of CECL: ........................... (1) For the top consolidated group; and ........................... (2) For each depository institution subsidiary. (g)........................ Total risk-weighted assets. ---------------------------------------------------------------------------------------------------------------- Table 4 to Sec. 217.173--Capital Conservation and Countercyclical Capital Buffers ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The Board-regulated institution must publicly disclose the geographic breakdown of its private sector credit exposures used in the calculation of the countercyclical capital buffer. Quantitative disclosures................ (b)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose the capital conservation buffer and the countercyclical capital buffer as described under Sec. 217.11 of subpart B. (c)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose the buffer retained income of the Board-regulated institution, as described under Sec. 217.11 of subpart B. (d)........................ At least quarterly, the Board-regulated institution must calculate and publicly disclose any limitations it has on distributions and discretionary bonus payments resulting from the capital conservation buffer and the countercyclical capital buffer framework described under Sec. 217.11 of subpart B, including the maximum payout amount for the quarter. ---------------------------------------------------------------------------------------------------------------- (b) General qualitative disclosure requirement. For each separate risk area described in Tables 5 through 12 to Sec. 217.173, the Board- regulated institution must describe its risk management objectives and policies, including: (1) Strategies and processes; (2) The structure and organization of the relevant risk management function; (3) The scope and nature of risk reporting and/or measurement systems; and (4) Policies for hedging and/or mitigating risk and strategies and processes for monitoring the continuing effectiveness of hedges/ mitigants. Table 5 \1\ to Sec. 217.173--Credit Risk: General Disclosures ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement with respect to credit risk (excluding counterparty credit risk disclosed in accordance with Table 7 to Sec. 217.173), including: (1) Policy for determining past due or delinquency status; (2) Policy for placing loans on nonaccrual; (3) Policy for returning loans to accrual status; (4) Definition of and policy for identifying impaired loans (for financial accounting purposes). (5) Description of the methodology that the entity uses to estimate its allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, including statistical methods used where applicable; (6) Policy for charging-off uncollectible amounts; and (7) Discussion of the Board-regulated institution's credit risk management policy. Quantitative disclosures................ (b)........................ Total credit risk exposures and average credit risk exposures, after accounting offsets in accordance with GAAP,\2\ without taking into account the effects of credit risk mitigation techniques (for example, collateral and netting not permitted under GAAP), over the period categorized by major types of credit exposure. For example, Board-regulated institutions could use categories similar to that used for financial statement purposes. Such categories might include, for instance: (1) Loans, off-balance sheet commitments, and other non-derivative off-balance sheet exposures; (2) Debt securities; and (3) OTC derivatives. (c)........................ Geographic \3\ distribution of exposures, categorized in significant areas by major types of credit exposure. (d)........................ Industry or counterparty type distribution of exposures, categorized by major types of credit exposure. (e)........................ By major industry or counterparty type: (1) Amount of impaired loans for which there was a related allowance under GAAP; (2) Amount of impaired loans for which there was no related allowance under GAAP; (3) Amount of loans past due 90 days and on nonaccrual; [[Page 591]] (4) Amount of loans past due 90 days and still accruing; \4\ (5) The balance in the allowance for loan and lease losses or adjusted allowance for credit losses, as applicable, at the end of each period, disaggregated on the basis of the entity's impairment method. To disaggregate the information required on the basis of impairment methodology, an entity shall separately disclose the amounts based on the requirements in GAAP; and (6) Charge-offs during the period. (f)........................ Amount of impaired loans and, if available, the amount of past due loans categorized by significant geographic areas including, if practical, the amounts of allowances related to each geographical area,\5\ further categorized as required by GAAP. (g)........................ Reconciliation of changes in ALLL or AACL, as applicable.\6\ (h)........................ Remaining contractual maturity breakdown (for example, one year or less) of the whole portfolio, categorized by credit exposure. ---------------------------------------------------------------------------------------------------------------- \1\ Table 5 to Sec. 217.173 does not cover equity exposures, which should be reported in Table 9. \2\ See, for example, ASC Topic 815-10 and 210-20 as they may be amended from time to time. \3\ Geographical areas may comprise individual countries, groups of countries, or regions within countries. A Board-regulated institution might choose to define the geographical areas based on the way the company's portfolio is geographically managed. The criteria used to allocate the loans to geographical areas must be specified. \4\ A Board-regulated institution is encouraged also to provide an analysis of the aging of past-due loans. \5\ The portion of the general allowance that is not allocated to a geographical area should be disclosed separately. \6\ The reconciliation should include the following: A description of the allowance; the opening balance of the allowance; charge-offs taken against the allowance during the period; amounts provided (or reversed) for estimated probable loan losses during the period; any other adjustments (for example, exchange rate differences, business combinations, acquisitions and disposals of subsidiaries), including transfers between allowances; and the closing balance of the allowance. Charge-offs and recoveries that have been recorded directly to the income statement should be disclosed separately. Table 6 to Sec. 217.173--Credit Risk: Disclosures for Portfolios Subject to IRB Risk-Based Capital Formulas ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ Explanation and review of the: (1) Structure of internal rating systems and if the Board-regulated institution considers external ratings, the relation between internal and external ratings; (2) Use of risk parameter estimates other than for regulatory capital purposes; (3) Process for managing and recognizing credit risk mitigation (see Table 8 to Sec. 217.173); and (4) Control mechanisms for the rating system, including discussion of independence, accountability, and rating systems review. (b)........................ Description of the internal ratings process, provided separately for the following: (1) Wholesale category; (2) Retail subcategories; (i) Residential mortgage exposures; (ii) Qualifying revolving exposures; and (iii) Other retail exposures. For each category and subcategory above the description should include: (A) The types of exposure included in the category/subcategories; and (B) The definitions, methods and data for estimation and validation of PD, LGD, and EAD, including assumptions employed in the derivation of these variables.\1\ Quantitative disclosures: risk (c)........................ (1) For wholesale exposures, present the assessment. following information across a sufficient number of PD grades (including default) to allow for a meaningful differentiation of credit risk: \2\ (i) Total EAD; \3\ (ii) Exposure-weighted average LGD (percentage); (iii) Exposure-weighted average risk weight; and (iv) Amount of undrawn commitments and exposure-weighted average EAD including average drawdowns prior to default for wholesale exposures. (2) For each retail subcategory, present the disclosures outlined above across a sufficient number of segments to allow for a meaningful differentiation of credit risk. Quantitative disclosures: historical (d)........................ Actual losses in the preceding period for results. each category and subcategory and how this differs from past experience. A discussion of the factors that impacted the loss experience in the preceding period--for example, has the Board- regulated institution experienced higher than average default rates, loss rates or EADs. (e)........................ The Board-regulated institution's estimates compared against actual outcomes over a longer period.\4\ At a minimum, this should include information on estimates of losses against actual losses in the wholesale category and each retail subcategory over a period sufficient to allow for a meaningful assessment of the performance of the internal rating processes for each category/subcategory.\5\ Where appropriate, the Board-regulated institution should further decompose this to provide analysis of PD, LGD, and EAD outcomes against estimates provided in the quantitative risk assessment disclosures above.\6\ ---------------------------------------------------------------------------------------------------------------- \1\ This disclosure item does not require a detailed description of the model in full--it should provide the reader with a broad overview of the model approach, describing definitions of the variables and methods for estimating and validating those variables set out in the quantitative risk disclosures below. This should be done for each of the four category/subcategories. The Board-regulated institution must disclose any significant differences in approach to estimating these variables within each category/subcategories. [[Page 592]] \2\ The PD, LGD and EAD disclosures in Table 6 (c) to Sec. 217.173 should reflect the effects of collateral, qualifying master netting agreements, eligible guarantees and eligible credit derivatives as defined under this part. Disclosure of each PD grade should include the exposure-weighted average PD for each grade. Where a Board-regulated institution aggregates PD grades for the purposes of disclosure, this should be a representative breakdown of the distribution of PD grades used for regulatory capital purposes. \3\ Outstanding loans and EAD on undrawn commitments can be presented on a combined basis for these disclosures. \4\ These disclosures are a way of further informing the reader about the reliability of the information provided in the ``quantitative disclosures: Risk assessment'' over the long run. The disclosures are requirements from year-end 2010; in the meantime, early adoption is encouraged. The phased implementation is to allow a Board-regulated institution sufficient time to build up a longer run of data that will make these disclosures meaningful. \5\ This disclosure item is not intended to be prescriptive about the period used for this assessment. Upon implementation, it is expected that a Board-regulated institution would provide these disclosures for as long a set of data as possible--for example, if a Board-regulated institution has 10 years of data, it might choose to disclose the average default rates for each PD grade over that 10-year period. Annual amounts need not be disclosed. \6\ A Board-regulated institution must provide this further decomposition where it will allow users greater insight into the reliability of the estimates provided in the ``quantitative disclosures: Risk assessment.'' In particular, it must provide this information where there are material differences between its estimates of PD, LGD or EAD compared to actual outcomes over the long run. The Board-regulated institution must also provide explanations for such differences. Table 7 to Sec. 217.173--General Disclosure for Counterparty Credit Risk of OTC Derivative Contracts, Repo- Style Transactions, and Eligible Margin Loans ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative Disclosures................. (a)........................ The general qualitative disclosure requirement with respect to OTC derivatives, eligible margin loans, and repo-style transactions, including: (1) Discussion of methodology used to assign economic capital and credit limits for counterparty credit exposures; (2) Discussion of policies for securing collateral, valuing and managing collateral, and establishing credit reserves; (3) Discussion of the primary types of collateral taken; (4) Discussion of policies with respect to wrong-way risk exposures; and (5) Discussion of the impact of the amount of collateral the Board-regulated institution would have to provide if the Board-regulated institution were to receive a credit rating downgrade. Quantitative Disclosures................ (b)........................ Gross positive fair value of contracts, netting benefits, netted current credit exposure, collateral held (including type, for example, cash, government securities), and net unsecured credit exposure.\1\ Also report measures for EAD used for regulatory capital for these transactions, the notional value of credit derivative hedges purchased for counterparty credit risk protection, and, for Board-regulated institutions not using the internal models methodology in Sec. 217.132(d) , the distribution of current credit exposure by types of credit exposure.\2\ (c)........................ Notional amount of purchased and sold credit derivatives, segregated between use for the Board-regulated institution's own credit portfolio and for its intermediation activities, including the distribution of the credit derivative products used, categorized further by protection bought and sold within each product group. (d)........................ The estimate of alpha if the Board- regulated institution has received supervisory approval to estimate alpha. ---------------------------------------------------------------------------------------------------------------- \1\ Net unsecured credit exposure is the credit exposure after considering the benefits from legally enforceable netting agreements and collateral arrangements, without taking into account haircuts for price volatility, liquidity, etc. \2\ This may include interest rate derivative contracts, foreign exchange derivative contracts, equity derivative contracts, credit derivatives, commodity or other derivative contracts, repo-style transactions, and eligible margin loans. Table 8 To Sec. 217.173--Credit Risk Mitigation \1 2\ ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement with respect to credit risk mitigation, including: (1) Policies and processes for, and an indication of the extent to which the Board-regulated institution uses, on- or off-balance sheet netting; (2) Policies and processes for collateral valuation and management; (3) A description of the main types of collateral taken by the Board-regulated institution; (4) The main types of guarantors/credit derivative counterparties and their creditworthiness; and (5) Information about (market or credit) risk concentrations within the mitigation taken. Quantitative disclosures................ (b)........................ For each separately disclosed portfolio, the total exposure (after, where applicable, on- or off-balance sheet netting) that is covered by guarantees/ credit derivatives. ---------------------------------------------------------------------------------------------------------------- \1\ At a minimum, a Board-regulated institution must provide the disclosures in Table 8 in relation to credit risk mitigation that has been recognized for the purposes of reducing capital requirements under this subpart. Where relevant, Board-regulated institutions are encouraged to give further information about mitigants that have not been recognized for that purpose. \2\ Credit derivatives and other credit mitigation that are treated for the purposes of this subpart as synthetic securitization exposures should be excluded from the credit risk mitigation disclosures (in Table 8 to Sec. 217.173) and included within those relating to securitization (in Table 9 to Sec. 217.173). Table 9 to Sec. 217.173--Securitization ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement with respect to securitization (including synthetic securitizations), including a discussion of: [[Page 593]] (1) The Board-regulated institution's objectives for securitizing assets, including the extent to which these activities transfer credit risk of the underlying exposures away from the Board- regulated institution to other entities and including the type of risks assumed and retained with resecuritization activity; \1\ (2) The nature of the risks (e.g. liquidity risk) inherent in the securitized assets; (3) The roles played by the Board- regulated institution in the securitization process \2\ and an indication of the extent of the Board- regulated institution's involvement in each of them; (4) The processes in place to monitor changes in the credit and market risk of securitization exposures including how those processes differ for resecuritization exposures; (5) The Board-regulated institution's policy for mitigating the credit risk retained through securitization and resecuritization exposures; and (6) The risk-based capital approaches that the Board-regulated institution follows for its securitization exposures including the type of securitization exposure to which each approach applies. (b)........................ A list of: (1) The type of securitization SPEs that the Board-regulated institution, as sponsor, uses to securitize third-party exposures. The Board-regulated institution must indicate whether it has exposure to these SPEs, either on- or off- balance sheet; and (2) Affiliated entities: (i) That the Board-regulated institution manages or advises; and (ii) That invest either in the securitization exposures that the Board- regulated institution has securitized or in securitization SPEs that the Board- regulated institution sponsors.\3\ (c)........................ Summary of the Board-regulated institution's accounting policies for securitization activities, including: (1) Whether the transactions are treated as sales or financings; (2) Recognition of gain-on-sale; (3) Methods and key assumptions and inputs applied in valuing retained or purchased interests; (4) Changes in methods and key assumptions and inputs from the previous period for valuing retained interests and impact of the changes; (5) Treatment of synthetic securitizations; (6) How exposures intended to be securitized are valued and whether they are recorded under subpart E of this part; and (7) Policies for recognizing liabilities on the balance sheet for arrangements that could require the Board-regulated institution to provide financial support for securitized assets. (d)........................ An explanation of significant changes to any of the quantitative information set forth below since the last reporting period. Quantitative disclosures................ (e)........................ The total outstanding exposures securitized \4\ by the Board-regulated institution in securitizations that meet the operational criteria in Sec. 217.141 (categorized into traditional/ synthetic), by underlying exposure type \5\ separately for securitizations of third-party exposures for which the bank acts only as sponsor. (f)........................ For exposures securitized by the Board- regulated institution in securitizations that meet the operational criteria in Sec. 217.141: (1) Amount of securitized assets that are impaired \6\/past due categorized by exposure type; and (2) Losses recognized by the Board- regulated institution during the current period categorized by exposure type.\7\ (g)........................ The total amount of outstanding exposures intended to be securitized categorized by exposure type. (h)........................ Aggregate amount of: (1) On-balance sheet securitization exposures retained or purchased categorized by exposure type; and (2) Off-balance sheet securitization exposures categorized by exposure type. (i)........................ (1) Aggregate amount of securitization exposures retained or purchased and the associated capital requirements for these exposures, categorized between securitization and resecuritization exposures, further categorized into a meaningful number of risk weight bands and by risk-based capital approach (e.g. SA, SFA, or SSFA). (2) Aggregate amount disclosed separately by type of underlying exposure in the pool of any: (i) After-tax gain-on-sale on a securitization that has been deducted from common equity tier 1 capital; and (ii) Credit-enhancing interest-only strip that is assigned a 1,250 percent risk weight. (j)........................ Summary of current year's securitization activity, including the amount of exposures securitized (by exposure type), and recognized gain or loss on sale by asset type. (k)........................ Aggregate amount of resecuritization exposures retained or purchased categorized according to: (1) Exposures to which credit risk mitigation is applied and those not applied; and (2) Exposures to guarantors categorized according to guarantor creditworthiness categories or guarantor name. ---------------------------------------------------------------------------------------------------------------- \1\ The Board-regulated institution must describe the structure of resecuritizations in which it participates; this description must be provided for the main categories of resecuritization products in which the Board- regulated institution is active. \2\ For example, these roles would include originator, investor, servicer, provider of credit enhancement, sponsor, liquidity provider, or swap provider. \3\ For example, money market mutual funds should be listed individually, and personal and private trusts, should be noted collectively. [[Page 594]] \4\ ``Exposures securitized'' include underlying exposures originated by the bank, whether generated by them or purchased, and recognized in the balance sheet, from third parties, and third-party exposures included in sponsored transactions. Securitization transactions (including underlying exposures originally on the bank's balance sheet and underlying exposures acquired by the bank from third-party entities) in which the originating bank does not retain any securitization exposure should be shown separately but need only be reported for the year of inception. \5\ A Board-regulated institution is required to disclose exposures regardless of whether there is a capital charge under this part. \6\ A Board-regulated institution must include credit-related other than temporary impairment (OTTI). \7\ For example, charge-offs/allowances (if the assets remain on the bank's balance sheet) or credit-related OTTI of I/O strips and other retained residual interests, as well as recognition of liabilities for probable future financial support required of the bank with respect to securitized assets. Table 10 to Sec. 217.173--Operational Risk ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement for operational risk. (b)........................ Description of the AMA, including a discussion of relevant internal and external factors considered in the Board- regulated institution's measurement approach. (c)........................ A description of the use of insurance for the purpose of mitigating operational risk. ---------------------------------------------------------------------------------------------------------------- Table 11 to Sec. 217.173--Equities Not Subject to Subpart F of This Part ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement with respect to the equity risk of equity holdings not subject to subpart F of this part, including: (1) Differentiation between holdings on which capital gains are expected and those held for other objectives, including for relationship and strategic reasons; and (2) Discussion of important policies covering the valuation of and accounting for equity holdings not subject to subpart F of this part. This includes the accounting methodology and valuation methodologies used, including key assumptions and practices affecting valuation as well as significant changes in these practices. Quantitative disclosures................ (b)........................ Carrying value on the balance sheet of equity investments, as well as the fair value of those investments. (c)........................ The types and nature of investments, including the amount that is: (1) Publicly traded; and (2) Non-publicly traded. (d)........................ The cumulative realized gains (losses) arising from sales and liquidations in the reporting period. (e)........................ (1) Total unrealized gains (losses) \1\ (2) Total latent revaluation gains (losses) \2\ (3) Any amounts of the above included in tier 1 and/or tier 2 capital. (f)........................ Capital requirements categorized by appropriate equity groupings, consistent with the Board-regulated institution's methodology, as well as the aggregate amounts and the type of equity investments subject to any supervisory transition regarding total capital requirements.\3\ ---------------------------------------------------------------------------------------------------------------- \1\ Unrealized gains (losses) recognized in the balance sheet but not through earnings. \2\ Unrealized gains (losses) not recognized either in the balance sheet or through earnings. \3\ This disclosure must include a breakdown of equities that are subject to the 0 percent, 20 percent, 100 percent, 300 percent, 400 percent, and 600 percent risk weights, as applicable. Table 12 to Sec. 217.173--Interest Rate Risk for Non-Trading Activities ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- Qualitative disclosures................. (a)........................ The general qualitative disclosure requirement, including the nature of interest rate risk for non-trading activities and key assumptions, including assumptions regarding loan prepayments and behavior of non-maturity deposits, and frequency of measurement of interest rate risk for non-trading activities. Quantitative disclosures................ (b)........................ The increase (decline) in earnings or economic value (or relevant measure used by management) for upward and downward rate shocks according to management's method for measuring interest rate risk for non-trading activities, categorized by currency (as appropriate). ---------------------------------------------------------------------------------------------------------------- (c) Except as provided in Sec. 217.172(b), a Board-regulated institution described in Sec. 217.172(d) must make the disclosures described in Table 13 to Sec. 217.173; provided, however, the disclosures required under this paragraph are required without regard to whether the Board-regulated institution has completed the parallel run process and has received notification from the Board pursuant to Sec. 217.121(d). The Board-regulated institution must make these disclosures publicly available beginning on January 1, 2015. [[Page 595]] Table 13 to Sec. 217.173--Supplementary Leverage Ratio ------------------------------------------------------------------------ Dollar amounts in thousands --------------------------------------- Tril Bil Mil Thou ------------------------------------------------------------------------ Part 1: Summary comparison of accounting assets and total leverage exposure ------------------------------------------------------------------------ 1 Total consolidated assets as reported in published financial statements..................... 2 Adjustment for investments in banking, financial, insurance or commercial entities that are consolidated for accounting purposes but outside the scope of regulatory consolidation.... 3 Adjustment for fiduciary assets recognized on balance sheet but excluded from total leverage exposure.............. 4 Adjustment for derivative exposures...................... 5 Adjustment for repo-style transactions................... 6 Adjustment for off-balance sheet exposures (that is, conversion to credit equivalent amounts of off-balance sheet exposures)..................... 7 Other adjustments............. 8 Total leverage exposure....... ------------------------------------------------------------------------ Part 2: Supplementary leverage ratio ------------------------------------------------------------------------ On-balance sheet exposures 1 On-balance sheet assets (excluding on-balance sheet assets for repo-style transactions and derivative exposures, but including cash collateral received in derivative transactions)....... 2 LESS: Amounts deducted from tier 1 capital................. 3 Total on-balance sheet exposures (excluding on-balance sheet assets for repo-style transactions and derivative exposures, but including cash collateral received in derivative transactions) (sum of lines 1 and 2).............. Derivative exposures 4 Current exposure for derivative exposures (that is, net of cash variation margin).. 5 Add-on amounts for potential future exposure (PFE) for derivative exposures........... 6 Gross-up for cash collateral posted if deducted from the on- balance sheet assets, except for cash variation margin...... 7 LESS: Deductions of receivable assets for cash variation margin posted in derivative transactions, if included in on- balance sheet assets........... 8 LESS: Exempted CCP leg of client-cleared transactions.... 9 Effective notional principal amount of sold credit protection..................... 10 LESS: Effective notional principal amount offsets and PFE adjustments for sold credit protection..................... 11 Total derivative exposures (sum of lines 4 to 10)......... Repo-style transactions 12 On-balance sheet assets for repo-style transactions, except include the gross value of receivables for reverse repurchase transactions. Exclude from this item the value of securities received in a security-for-security repo- style transaction where the securities lender has not sold or re-hypothecated the securities received. Include in this item the value of securities that qualified for sales treatment that must be reversed....................... 13 LESS: Reduction of the gross value of receivables in reverse repurchase transactions by cash payables in repurchase transactions under netting agreements..................... 14 Counterparty credit risk for all repo-style transactions.... 15 Exposure for repo-style transactions where a banking organization acts as an agent.. 16 Total exposures for repo- style transactions (sum of lines 12 to 15)................ Other off-balance sheet exposures 17 Off-balance sheet exposures at gross notional amounts...... 18 LESS: Adjustments for conversion to credit equivalent amounts........................ 19 Off-balance sheet exposures (sum of lines 17 and 18)....... Capital and total leverage exposure 20 Tier 1 capital............... 21 Total leverage exposure (sum of lines 3, 11, 16 and 19)..... Supplementary leverage ratio --------------------------------------- 22 Supplementary leverage ratio. (in percent) ------------------------------------------------------------------------ [[Page 596]] [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 57746, Sept. 26, 2014; 80 FR 41421, July 15, 2015; 84 FR 4242, Feb. 14, 2019; 84 FR 59272, Nov. 1, 2019; 85 FR 4428, Jan. 24, 2020] Sec. Sec. 217.174-217.200 [Reserved] Subpart F_Risk-Weighted Assets_Market Risk Sec. 217.201 Purpose, applicability, and reservation of authority. (a) Purpose. This subpart F establishes risk-based capital requirements for Board-regulated institutions with significant exposure to market risk, provides methods for these Board-regulated institutions to calculate their standardized measure for market risk and, if applicable, advanced measure for market risk, and establishes public disclosure requirements. (b) Applicability. (1) This subpart applies to any Board-regulated institution with aggregate trading assets and trading liabilities (as reported in the Board-regulated institution's most recent quarterly Call Report, for a state member bank, or FR Y-9C, for a bank holding company or savings and loan holding company, as applicable, any savings and loan holding company that does not file the FR Y-9C should follow the instructions to the FR Y-9C) equal to: (i) 10 percent or more of quarter-end total assets as reported on the most recent quarterly [Call Report or FR Y-9C]; or (ii) $1 billion or more. (2) The Board may apply this subpart to any Board-regulated institution if the Board deems it necessary or appropriate because of the level of market risk of the Board-regulated institution or to ensure safe and sound banking practices. (3) The Board may exclude a Board-regulated institution that meets the criteria of paragraph (b)(1) of this section from application of this subpart if the Board determines that the exclusion is appropriate based on the level of market risk of the Board-regulated institution and is consistent with safe and sound banking practices. (c) Reservation of authority (1) The Board may require a Board- regulated institution to hold an amount of capital greater than otherwise required under this subpart if the Board determines that the Board-regulated institution's capital requirement for market risk as calculated under this subpart is not commensurate with the market risk of the Board-regulated institution's covered positions. In making determinations under paragraphs (c)(1) through (c)(3) of this section, the Board will apply notice and response procedures generally in the same manner as the notice and response procedures set forth in 12 CFR 263.202. (2) If the Board determines that the risk-based capital requirement calculated under this subpart by the Board-regulated institution for one or more covered positions or portfolios of covered positions is not commensurate with the risks associated with those positions or portfolios, the Board may require the Board-regulated institution to assign a different risk-based capital requirement to the positions or portfolios that more accurately reflects the risk of the positions or portfolios. (3) The Board may also require a Board-regulated institution to calculate risk-based capital requirements for specific positions or portfolios under this subpart, or under subpart D or subpart E of this part, as appropriate, to more accurately reflect the risks of the positions. (4) Nothing in this subpart limits the authority of the Board under any other provision of law or regulation to take supervisory or enforcement action, including action to address unsafe or unsound practices or conditions, deficient capital levels, or violations of law. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62289, Oct. 11, 2013] Sec. 217.202 Definitions. (a) Terms set forth in Sec. 217.2 and used in this subpart have the definitions assigned thereto in Sec. 217.2. (b) For the purposes of this subpart, the following terms are defined as follows: Backtesting means the comparison of a Board-regulated institution's internal estimates with actual outcomes during a sample period not used in model development. For purposes of this subpart, backtesting is one form of out-of-sample testing. [[Page 597]] Commodity position means a position for which price risk arises from changes in the price of a commodity. Corporate debt position means a debt position that is an exposure to a company that is not a sovereign entity, the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, a multilateral development bank, a depository institution, a foreign bank, a credit union, a public sector entity, a GSE, or a securitization. Correlation trading position means: (1) A securitization position for which all or substantially all of the value of the underlying exposures is based on the credit quality of a single company for which a two-way market exists, or on commonly traded indices based on such exposures for which a two-way market exists on the indices; or (2) A position that is not a securitization position and that hedges a position described in paragraph (1) of this definition; and (3) A correlation trading position does not include: (i) A resecuritization position; (ii) A derivative of a securitization position that does not provide a pro rata share in the proceeds of a securitization tranche; or (iii) A securitization position for which the underlying assets or reference exposures are retail exposures, residential mortgage exposures, or commercial mortgage exposures. Covered position means the following positions: (1) A trading asset or trading liability (whether on- or off-balance sheet),\32\ as reported on Schedule RC-D of the Call Report or Schedule HC-D of the FR Y-9C (any savings and loan holding companies that does not file the FR Y-9C should follow the instructions to the FR Y-9C), that meets the following conditions: --------------------------------------------------------------------------- \32\ Securities subject to repurchase and lending agreements are included as if they are still owned by the lender. --------------------------------------------------------------------------- (i) The position is a trading position or hedges another covered position; \33\ and --------------------------------------------------------------------------- \33\ A position that hedges a trading position must be within the scope of the bank's hedging strategy as described in paragraph (a)(2) of section 203 of this subpart. --------------------------------------------------------------------------- (ii) The position is free of any restrictive covenants on its tradability or the Board-regulated institution is able to hedge the material risk elements of the position in a two-way market; (2) A foreign exchange or commodity position, regardless of whether the position is a trading asset or trading liability (excluding any structural foreign currency positions that the Board-regulated institution chooses to exclude with prior supervisory approval); and (3) Notwithstanding paragraphs (1) and (2) of this definition, a covered position does not include: (i) An intangible asset, including any servicing asset; (ii) Any hedge of a trading position that the Board determines to be outside the scope of the Board-regulated institution's hedging strategy required in paragraph (a)(2) of Sec. 217.203; (iii) Any position that, in form or substance, acts as a liquidity facility that provides support to asset-backed commercial paper; (iv) A credit derivative the Board-regulated institution recognizes as a guarantee for risk-weighted asset amount calculation purposes under subpart D or subpart E of this part; (v) Any position that is recognized as a credit valuation adjustment hedge under Sec. 217.132(e)(5) or Sec. 217.132(e)(6), except as provided in Sec. 217.132(e)(6)(vii); (vi) Any equity position that is not publicly traded, other than a derivative that references a publicly traded equity and other than a position in an investment company as defined in and registered with the SEC under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.), provided that all the underlying equities held by the investment company are publicly traded; (vii) Any equity position that is not publicly traded, other than a derivative that references a publicly traded equity and other than a position in an entity not domiciled in the United States (or a political subdivision thereof) that [[Page 598]] is supervised and regulated in a manner similar to entities described in paragraph (3)(vi) of this definition; (viii) Any position a Board-regulated institution holds with the intent to securitize; or (ix) Any direct real estate holding. Debt position means a covered position that is not a securitization position or a correlation trading position and that has a value that reacts primarily to changes in interest rates or credit spreads. Default by a sovereign entity has the same meaning as the term sovereign default under Sec. 217.2. Equity position means a covered position that is not a securitization position or a correlation trading position and that has a value that reacts primarily to changes in equity prices. Event risk means the risk of loss on equity or hybrid equity positions as a result of a financial event, such as the announcement or occurrence of a company merger, acquisition, spin-off, or dissolution. Foreign exchange position means a position for which price risk arises from changes in foreign exchange rates. General market risk means the risk of loss that could result from broad market movements, such as changes in the general level of interest rates, credit spreads, equity prices, foreign exchange rates, or commodity prices. Hedge means a position or positions that offset all, or substantially all, of one or more material risk factors of another position. Idiosyncratic risk means the risk of loss in the value of a position that arises from changes in risk factors unique to that position. Incremental risk means the default risk and credit migration risk of a position. Default risk means the risk of loss on a position that could result from the failure of an obligor to make timely payments of principal or interest on its debt obligation, and the risk of loss that could result from bankruptcy, insolvency, or similar proceeding. Credit migration risk means the price risk that arises from significant changes in the underlying credit quality of the position. Market risk means the risk of loss on a position that could result from movements in market prices. Resecuritization position means a covered position that is: (1) An on- or off-balance sheet exposure to a resecuritization; or (2) An exposure that directly or indirectly references a resecuritization exposure in paragraph (1) of this definition. Securitization means a transaction in which: (1) All or a portion of the credit risk of one or more underlying exposures is transferred to one or more third parties; (2) The credit risk associated with the underlying exposures has been separated into at least two tranches that reflect different levels of seniority; (3) Performance of the securitization exposures depends upon the performance of the underlying exposures; (4) All or substantially all of the underlying exposures are financial exposures (such as loans, commitments, credit derivatives, guarantees, receivables, asset-backed securities, mortgage-backed securities, other debt securities, or equity securities); (5) For non-synthetic securitizations, the underlying exposures are not owned by an operating company; (6) The underlying exposures are not owned by a small business investment company described in section 302 of the Small Business Investment Act; (7) The underlying exposures are not owned by a firm an investment in which qualifies as a community development investment under section 24(Eleventh) of the National Bank Act; (8) The Board may determine that a transaction in which the underlying exposures are owned by an investment firm that exercises substantially unfettered control over the size and composition of its assets, liabilities, and off-balance sheet exposures is not a securitization based on the transaction's leverage, risk profile, or economic substance; (9) The Board may deem an exposure to a transaction that meets the definition of a securitization, notwithstanding paragraph (5), (6), or (7) of this definition, to be a securitization based [[Page 599]] on the transaction's leverage, risk profile, or economic substance; and (10) The transaction is not: (i) An investment fund; (ii) A collective investment fund (as defined in 12 CFR 208.34. (iii) An employee benefit plan as defined in paragraphs (3) and (32) of section 3 of ERISA, a ``governmental plan'' (as defined in 29 U.S.C. 1002(32)) that complies with the tax deferral qualification requirements provided in the Internal Revenue Code, or any similar employee benefit plan established under the laws of a foreign jurisdiction; or (iv) Registered with the SEC under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) or foreign equivalents thereof. Securitization position means a covered position that is: (1) An on-balance sheet or off-balance sheet credit exposure (including credit-enhancing representations and warranties) that arises from a securitization (including a resecuritization); or (2) An exposure that directly or indirectly references a securitization exposure described in paragraph (1) of this definition. Sovereign debt position means a direct exposure to a sovereign entity. Specific risk means the risk of loss on a position that could result from factors other than broad market movements and includes event risk, default risk, and idiosyncratic risk. Structural position in a foreign currency means a position that is not a trading position and that is: (1) Subordinated debt, equity, or minority interest in a consolidated subsidiary that is denominated in a foreign currency; (2) Capital assigned to foreign branches that is denominated in a foreign currency; (3) A position related to an unconsolidated subsidiary or another item that is denominated in a foreign currency and that is deducted from the Board-regulated institution's tier 1 or tier 2 capital; or (4) A position designed to hedge a Board-regulated institution's capital ratios or earnings against the effect on paragraphs (1), (2), or (3) of this definition of adverse exchange rate movements. Term repo-style transaction means a repo-style transaction that has an original maturity in excess of one business day. Trading position means a position that is held by the Board- regulated institution for the purpose of short-term resale or with the intent of benefiting from actual or expected short-term price movements, or to lock in arbitrage profits. Two-way market means a market where there are independent bona fide offers to buy and sell so that a price reasonably related to the last sales price or current bona fide competitive bid and offer quotations can be determined within one day and settled at that price within a relatively short time frame conforming to trade custom. Value-at-Risk (VaR) means the estimate of the maximum amount that the value of one or more positions could decline due to market price or rate movements during a fixed holding period within a stated confidence interval. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62290, Oct. 11, 2013; 79 FR 78295, Dec. 30, 2014; 80 FR 70672, Nov. 16, 2015; 84 FR 35269, July 22, 2019; 85 FR 4419, Jan. 24, 2020] Sec. 217.203 Requirements for application of this subpart F. (a) Trading positions--(1) Identification of trading positions. A Board-regulated institution must have clearly defined policies and procedures for determining which of its trading assets and trading liabilities are trading positions and which of its trading positions are correlation trading positions. These policies and procedures must take into account: (i) The extent to which a position, or a hedge of its material risks, can be marked-to-market daily by reference to a two-way market; and (ii) Possible impairments to the liquidity of a position or its hedge. (2) Trading and hedging strategies. A Board-regulated institution must have clearly defined trading and hedging strategies for its trading positions that [[Page 600]] are approved by senior management of the Board-regulated institution. (i) The trading strategy must articulate the expected holding period of, and the market risk associated with, each portfolio of trading positions. (ii) The hedging strategy must articulate for each portfolio of trading positions the level of market risk the Board-regulated institution is willing to accept and must detail the instruments, techniques, and strategies the Board-regulated institution will use to hedge the risk of the portfolio. (b) Management of covered positions--(1) Active management. A Board- regulated institution must have clearly defined policies and procedures for actively managing all covered positions. At a minimum, these policies and procedures must require: (i) Marking positions to market or to model on a daily basis; (ii) Daily assessment of the Board-regulated institution's ability to hedge position and portfolio risks, and of the extent of market liquidity; (iii) Establishment and daily monitoring of limits on positions by a risk control unit independent of the trading business unit; (iv) Daily monitoring by senior management of information described in paragraphs (b)(1)(i) through (b)(1)(iii) of this section; (v) At least annual reassessment of established limits on positions by senior management; and (vi) At least annual assessments by qualified personnel of the quality of market inputs to the valuation process, the soundness of key assumptions, the reliability of parameter estimation in pricing models, and the stability and accuracy of model calibration under alternative market scenarios. (2) Valuation of covered positions. The Board-regulated institution must have a process for prudent valuation of its covered positions that includes policies and procedures on the valuation of positions, marking positions to market or to model, independent price verification, and valuation adjustments or reserves. The valuation process must consider, as appropriate, unearned credit spreads, close-out costs, early termination costs, investing and funding costs, liquidity, and model risk. (c) Requirements for internal models. (1) A Board-regulated institution must obtain the prior written approval of the Board before using any internal model to calculate its risk-based capital requirement under this subpart. (2) A Board-regulated institution must meet all of the requirements of this section on an ongoing basis. The Board-regulated institution must promptly notify the Board when: (i) The Board-regulated institution plans to extend the use of a model that the Board has approved under this subpart to an additional business line or product type; (ii) The Board-regulated institution makes any change to an internal model approved by the Board under this subpart that would result in a material change in the Board-regulated institution's risk-weighted asset amount for a portfolio of covered positions; or (iii) The Board-regulated institution makes any material change to its modeling assumptions. (3) The Board may rescind its approval of the use of any internal model (in whole or in part) or of the determination of the approach under Sec. 217.209(a)(2)(ii) for a Board-regulated institution's modeled correlation trading positions and determine an appropriate capital requirement for the covered positions to which the model would apply, if the Board determines that the model no longer complies with this subpart or fails to reflect accurately the risks of the Board- regulated institution's covered positions. (4) The Board-regulated institution must periodically, but no less frequently than annually, review its internal models in light of developments in financial markets and modeling technologies, and enhance those models as appropriate to ensure that they continue to meet the Board's standards for model approval and employ risk measurement methodologies that are most appropriate for the Board-regulated institution's covered positions. (5) The Board-regulated institution must incorporate its internal models into its risk management process and integrate the internal models used for [[Page 601]] calculating its VaR-based measure into its daily risk management process. (6) The level of sophistication of a Board-regulated institution's internal models must be commensurate with the complexity and amount of its covered positions. A Board-regulated institution's internal models may use any of the generally accepted approaches, including but not limited to variance-covariance models, historical simulations, or Monte Carlo simulations, to measure market risk. (7) The Board-regulated institution's internal models must properly measure all the material risks in the covered positions to which they are applied. (8) The Board-regulated institution's internal models must conservatively assess the risks arising from less liquid positions and positions with limited price transparency under realistic market scenarios. (9) The Board-regulated institution must have a rigorous and well- defined process for re-estimating, re-evaluating, and updating its internal models to ensure continued applicability and relevance. (10) If a Board-regulated institution uses internal models to measure specific risk, the internal models must also satisfy the requirements in paragraph (b)(1) of Sec. 217.207. (d) Control, oversight, and validation mechanisms. (1) The Board- regulated institution must have a risk control unit that reports directly to senior management and is independent from the business trading units. (2) The Board-regulated institution must validate its internal models initially and on an ongoing basis. The Board-regulated institution's validation process must be independent of the internal models' development, implementation, and operation, or the validation process must be subjected to an independent review of its adequacy and effectiveness. Validation must include: (i) An evaluation of the conceptual soundness of (including developmental evidence supporting) the internal models; (ii) An ongoing monitoring process that includes verification of processes and the comparison of the Board-regulated institution's model outputs with relevant internal and external data sources or estimation techniques; and (iii) An outcomes analysis process that includes backtesting. For internal models used to calculate the VaR-based measure, this process must include a comparison of the changes in the Board-regulated institution's portfolio value that would have occurred were end-of-day positions to remain unchanged (therefore, excluding fees, commissions, reserves, net interest income, and intraday trading) with VaR-based measures during a sample period not used in model development. (3) The Board-regulated institution must stress test the market risk of its covered positions at a frequency appropriate to each portfolio, and in no case less frequently than quarterly. The stress tests must take into account concentration risk (including but not limited to concentrations in single issuers, industries, sectors, or markets), illiquidity under stressed market conditions, and risks arising from the Board-regulated institution's trading activities that may not be adequately captured in its internal models. (4) The Board-regulated institution must have an internal audit function independent of business-line management that at least annually assesses the effectiveness of the controls supporting the Board- regulated institution's market risk measurement systems, including the activities of the business trading units and independent risk control unit, compliance with policies and procedures, and calculation of the Board-regulated institution's measures for market risk under this subpart. At least annually, the internal audit function must report its findings to the Board-regulated institution's board of directors (or a committee thereof). (e) Internal assessment of capital adequacy. The Board-regulated institution must have a rigorous process for assessing its overall capital adequacy in relation to its market risk. The assessment must take into account risks that may not be captured fully in the VaR-based measure, including concentration and liquidity risk under stressed market conditions. [[Page 602]] (f) Documentation. The Board-regulated institution must adequately document all material aspects of its internal models, management and valuation of covered positions, control, oversight, validation and review processes and results, and internal assessment of capital adequacy. Sec. 217.204 Measure for market risk. (a) General requirement. (1) A Board-regulated institution must calculate its standardized measure for market risk by following the steps described in paragraph (a)(2) of this section. An advanced approaches Board-regulated institution also must calculate an advanced measure for market risk by following the steps in paragraph (a)(2) of this section. (2) Measure for market risk. A Board-regulated institution must calculate the standardized measure for market risk, which equals the sum of the VaR-based capital requirement, stressed VaR-based capital requirement, specific risk add-ons, incremental risk capital requirement, comprehensive risk capital requirement, and capital requirement for de minimis exposures all as defined under this paragraph (a)(2), (except, that the Board-regulated institution may not use the SFA in section 210(b)(2)(vii)(B) of this subpart for purposes of this calculation)[, plus any additional capital requirement established by the Board]. An advanced approaches Board-regulated institution that has completed the parallel run process and that has received notifications from the Board pursuant to Sec. 217.121(d) also must calculate the advanced measure for market risk, which equals the sum of the VaR-based capital requirement, stressed VaR-based capital requirement, specific risk add-ons, incremental risk capital requirement, comprehensive risk capital requirement, and capital requirement for de minimis exposures as defined under this paragraph (a)(2) [, plus any additional capital requirement established by the Board]. (i) VaR-based capital requirement. A Board-regulated institution's VaR-based capital requirement equals the greater of: (A) The previous day's VaR-based measure as calculated under Sec. 217.205; or (B) The average of the daily VaR-based measures as calculated under Sec. 217.205 for each of the preceding 60 business days multiplied by three, except as provided in paragraph (b) of this section. (ii) Stressed VaR-based capital requirement. A Board-regulated institution's stressed VaR-based capital requirement equals the greater of: (A) The most recent stressed VaR-based measure as calculated under Sec. 217.206; or (B) The average of the stressed VaR-based measures as calculated under Sec. 217.206 for each of the preceding 12 weeks multiplied by three, except as provided in paragraph (b) of this section. (iii) Specific risk add-ons. A Board-regulated institution's specific risk add-ons equal any specific risk add-ons that are required under Sec. 217.207 and are calculated in accordance with Sec. 217.210. (iv) Incremental risk capital requirement. A Board-regulated institution's incremental risk capital requirement equals any incremental risk capital requirement as calculated under section 208 of this subpart. (v) Comprehensive risk capital requirement. A Board-regulated institution's comprehensive risk capital requirement equals any comprehensive risk capital requirement as calculated under section 209 of this subpart. (vi) Capital requirement for de minimis exposures. A Board-regulated institution's capital requirement for de minimis exposures equals: (A) The absolute value of the fair value of those de minimis exposures that are not captured in the Board-regulated institution's VaR-based measure or under paragraph (a)(2)(vi)(B) of this section; and (B) With the prior written approval of the Board, the capital requirement for any de minimis exposures using alternative techniques that appropriately measure the market risk associated with those exposures. (b) Backtesting. A Board-regulated institution must compare each of its most recent 250 business days' trading [[Page 603]] losses (excluding fees, commissions, reserves, net interest income, and intraday trading) with the corresponding daily VaR-based measures calibrated to a one-day holding period and at a one-tail, 99.0 percent confidence level. A Board-regulated institution must begin backtesting as required by this paragraph (b) no later than one year after the later of January 1, 2014 and the date on which the Board-regulated institution becomes subject to this subpart. In the interim, consistent with safety and soundness principles, a Board-regulated institution subject to this subpart as of January 1, 2014 should continue to follow backtesting procedures in accordance with the Board's supervisory expectations. (1) Once each quarter, the Board-regulated institution must identify the number of exceptions (that is, the number of business days for which the actual daily net trading loss, if any, exceeds the corresponding daily VaR-based measure) that have occurred over the preceding 250 business days. (2) A Board-regulated institution must use the multiplication factor in Table 1 to Sec. 217.204 that corresponds to the number of exceptions identified in paragraph (b)(1) of this section to determine its VaR- based capital requirement for market risk under paragraph (a)(2)(i) of this section and to determine its stressed VaR-based capital requirement for market risk under paragraph (a)(2)(ii) of this section until it obtains the next quarter's backtesting results, unless the Board notifies the Board-regulated institution in writing that a different adjustment or other action is appropriate. Table 1 to Sec. 217.204--Multiplication Factors Based on Results of Backtesting ------------------------------------------------------------------------ Multiplication Number of exceptions factor ------------------------------------------------------------------------ 4 or fewer.............................................. 3.00 5....................................................... 3.40 6....................................................... 3.50 7....................................................... 3.65 8....................................................... 3.75 9....................................................... 3.85 10 or more.............................................. 4.00 ------------------------------------------------------------------------ Sec. 217.205 VaR-based measure. (a) General requirement. A Board-regulated institution must use one or more internal models to calculate daily a VaR-based measure of the general market risk of all covered positions. The daily VaR-based measure also may reflect the Board-regulated institution's specific risk for one or more portfolios of debt and equity positions, if the internal models meet the requirements of paragraph (b)(1) of Sec. 217.207. The daily VaR-based measure must also reflect the Board-regulated institution's specific risk for any portfolio of correlation trading positions that is modeled under Sec. 217.209. A Board-regulated institution may elect to include term repo-style transactions in its VaR-based measure, provided that the Board-regulated institution includes all such term repo-style transactions consistently over time. (1) The Board-regulated institution's internal models for calculating its VaR-based measure must use risk factors sufficient to measure the market risk inherent in all covered positions. The market risk categories must include, as appropriate, interest rate risk, credit spread risk, equity price risk, foreign exchange risk, and commodity price risk. For material positions in the major currencies and markets, modeling techniques must incorporate enough segments of the yield curve--in no case less than six--to capture differences in volatility and less than perfect correlation of rates along the yield curve. (2) The VaR-based measure may incorporate empirical correlations within and across risk categories, provided the Board-regulated institution validates and demonstrates the reasonableness of its process for measuring correlations. If the VaR-based measure does not incorporate empirical correlations across risk categories, the Board- regulated institution must add the separate measures from its internal models used to calculate the VaR-based measure for the appropriate market risk categories (interest rate risk, credit spread risk, equity price risk, foreign exchange rate risk, and/or commodity price risk) to determine its aggregate VaR-based measure. [[Page 604]] (3) The VaR-based measure must include the risks arising from the nonlinear price characteristics of options positions or positions with embedded optionality and the sensitivity of the fair value of the positions to changes in the volatility of the underlying rates, prices, or other material risk factors. A Board-regulated institution with a large or complex options portfolio must measure the volatility of options positions or positions with embedded optionality by different maturities and/or strike prices, where material. (4) The Board-regulated institution must be able to justify to the satisfaction of the Board the omission of any risk factors from the calculation of its VaR-based measure that the Board-regulated institution uses in its pricing models. (5) The Board-regulated institution must demonstrate to the satisfaction of the Board the appropriateness of any proxies used to capture the risks of the Board-regulated institution's actual positions for which such proxies are used. (b) Quantitative requirements for VaR-based measure. (1) The VaR- based measure must be calculated on a daily basis using a one-tail, 99.0 percent confidence level, and a holding period equivalent to a 10- business-day movement in underlying risk factors, such as rates, spreads, and prices. To calculate VaR-based measures using a 10- business-day holding period, the Board-regulated institution may calculate 10-business-day measures directly or may convert VaR-based measures using holding periods other than 10 business days to the equivalent of a 10-business-day holding period. A Board-regulated institution that converts its VaR-based measure in such a manner must be able to justify the reasonableness of its approach to the satisfaction of the Board. (2) The VaR-based measure must be based on a historical observation period of at least one year. Data used to determine the VaR-based measure must be relevant to the Board-regulated institution's actual exposures and of sufficient quality to support the calculation of risk- based capital requirements. The Board-regulated institution must update data sets at least monthly or more frequently as changes in market conditions or portfolio composition warrant. For a Board-regulated institution that uses a weighting scheme or other method for the historical observation period, the Board-regulated institution must either: (i) Use an effective observation period of at least one year in which the average time lag of the observations is at least six months; or (ii) Demonstrate to the Board that its weighting scheme is more effective than a weighting scheme with an average time lag of at least six months representing the volatility of the Board-regulated institution's trading portfolio over a full business cycle. A Board- regulated institution using this option must update its data more frequently than monthly and in a manner appropriate for the type of weighting scheme. (c) A Board-regulated institution must divide its portfolio into a number of significant subportfolios approved by the Board for subportfolio backtesting purposes. These subportfolios must be sufficient to allow the Board-regulated institution and the Board to assess the adequacy of the VaR model at the risk factor level; the Board will evaluate the appropriateness of these subportfolios relative to the value and composition of the Board-regulated institution's covered positions. The Board-regulated institution must retain and make available to the Board the following information for each subportfolio for each business day over the previous two years (500 business days), with no more than a 60-day lag: (1) A daily VaR-based measure for the subportfolio calibrated to a one-tail, 99.0 percent confidence level; (2) The daily profit or loss for the subportfolio (that is, the net change in price of the positions held in the portfolio at the end of the previous business day); and (3) The p-value of the profit or loss on each day (that is, the probability of observing a profit that is less than, or a loss that is greater than, the amount reported for purposes of paragraph (c)(2) of this section based on the model used to calculate the VaR-based measure described in paragraph (c)(1) of this section). [[Page 605]] Sec. 217.206 Stressed VaR-based measure. (a) General requirement. At least weekly, a Board-regulated institution must use the same internal model(s) used to calculate its VaR-based measure to calculate a stressed VaR-based measure. (b) Quantitative requirements for stressed VaR-based measure. (1) A Board-regulated institution must calculate a stressed VaR-based measure for its covered positions using the same model(s) used to calculate the VaR-based measure, subject to the same confidence level and holding period applicable to the VaR-based measure under Sec. 217.205, but with model inputs calibrated to historical data from a continuous 12-month period that reflects a period of significant financial stress appropriate to the Board-regulated institution's current portfolio. (2) The stressed VaR-based measure must be calculated at least weekly and be no less than the Board-regulated institution's VaR-based measure. (3) A Board-regulated institution must have policies and procedures that describe how it determines the period of significant financial stress used to calculate the Board-regulated institution's stressed VaR- based measure under this section and must be able to provide empirical support for the period used. The Board-regulated institution must obtain the prior approval of the Board for, and notify the Board if the Board- regulated institution makes any material changes to, these policies and procedures. The policies and procedures must address: (i) How the Board-regulated institution links the period of significant financial stress used to calculate the stressed VaR-based measure to the composition and directional bias of its current portfolio; and (ii) The Board-regulated institution's process for selecting, reviewing, and updating the period of significant financial stress used to calculate the stressed VaR-based measure and for monitoring the appropriateness of the period to the Board-regulated institution's current portfolio. (4) Nothing in this section prevents the Board from requiring a Board-regulated institution to use a different period of significant financial stress in the calculation of the stressed VaR-based measure. Sec. 217.207 Specific risk. (a) General requirement. A Board-regulated institution must use one of the methods in this section to measure the specific risk for each of its debt, equity, and securitization positions with specific risk. (b) Modeled specific risk. A Board-regulated institution may use models to measure the specific risk of covered positions as provided in paragraph (a) of section 205 of this subpart (therefore, excluding securitization positions that are not modeled under section 209 of this subpart). A Board-regulated institution must use models to measure the specific risk of correlation trading positions that are modeled under Sec. 217.209. (1) Requirements for specific risk modeling. (i) If a Board- regulated institution uses internal models to measure the specific risk of a portfolio, the internal models must: (A) Explain the historical price variation in the portfolio; (B) Be responsive to changes in market conditions; (C) Be robust to an adverse environment, including signaling rising risk in an adverse environment; and (D) Capture all material components of specific risk for the debt and equity positions in the portfolio. Specifically, the internal models must: (1) Capture event risk and idiosyncratic risk; and (2) Capture and demonstrate sensitivity to material differences between positions that are similar but not identical and to changes in portfolio composition and concentrations. (ii) If a Board-regulated institution calculates an incremental risk measure for a portfolio of debt or equity positions under section 208 of this subpart, the Board-regulated institution is not required to capture default and credit migration risks in its internal models used to measure the specific risk of those portfolios. (2) Specific risk fully modeled for one or more portfolios. If the Board-regulated institution's VaR-based measure captures all material aspects of specific risk for one or more of its portfolios of [[Page 606]] debt, equity, or correlation trading positions, the Board-regulated institution has no specific risk add-on for those portfolios for purposes of paragraph (a)(2)(iii) of Sec. 217.204. (c) Specific risk not modeled. (1) If the Board-regulated institution's VaR-based measure does not capture all material aspects of specific risk for a portfolio of debt, equity, or correlation trading positions, the Board-regulated institution must calculate a specific- risk add-on for the portfolio under the standardized measurement method as described in Sec. 217.210. (2) A Board-regulated institution must calculate a specific risk add-on under the standardized measurement method as described in Sec. 217.210 for all of its securitization positions that are not modeled under Sec. 217.209. Sec. 217.208 Incremental risk. (a) General requirement. A Board-regulated institution that measures the specific risk of a portfolio of debt positions under Sec. 217.207(b) using internal models must calculate at least weekly an incremental risk measure for that portfolio according to the requirements in this section. The incremental risk measure is the Board- regulated institution's measure of potential losses due to incremental risk over a one-year time horizon at a one-tail, 99.9 percent confidence level, either under the assumption of a constant level of risk, or under the assumption of constant positions. With the prior approval of the Board, a Board-regulated institution may choose to include portfolios of equity positions in its incremental risk model, provided that it consistently includes such equity positions in a manner that is consistent with how the Board-regulated institution internally measures and manages the incremental risk of such positions at the portfolio level. If equity positions are included in the model, for modeling purposes default is considered to have occurred upon the default of any debt of the issuer of the equity position. A Board-regulated institution may not include correlation trading positions or securitization positions in its incremental risk measure. (b) Requirements for incremental risk modeling. For purposes of calculating the incremental risk measure, the incremental risk model must: (1) Measure incremental risk over a one-year time horizon and at a one-tail, 99.9 percent confidence level, either under the assumption of a constant level of risk, or under the assumption of constant positions. (i) A constant level of risk assumption means that the Board- regulated institution rebalances, or rolls over, its trading positions at the beginning of each liquidity horizon over the one-year horizon in a manner that maintains the Board-regulated institution's initial risk level. The Board-regulated institution must determine the frequency of rebalancing in a manner consistent with the liquidity horizons of the positions in the portfolio. The liquidity horizon of a position or set of positions is the time required for a Board-regulated institution to reduce its exposure to, or hedge all of its material risks of, the position(s) in a stressed market. The liquidity horizon for a position or set of positions may not be less than the shorter of three months or the contractual maturity of the position. (ii) A constant position assumption means that the Board-regulated institution maintains the same set of positions throughout the one-year horizon. If a Board-regulated institution uses this assumption, it must do so consistently across all portfolios. (iii) A Board-regulated institution's selection of a constant position or a constant risk assumption must be consistent between the Board-regulated institution's incremental risk model and its comprehensive risk model described in section 209 of this subpart, if applicable. (iv) A Board-regulated institution's treatment of liquidity horizons must be consistent between the Board-regulated institution's incremental risk model and its comprehensive risk model described in section 209, if applicable. (2) Recognize the impact of correlations between default and migration events among obligors. (3) Reflect the effect of issuer and market concentrations, as well as concentrations that can arise within and [[Page 607]] across product classes during stressed conditions. (4) Reflect netting only of long and short positions that reference the same financial instrument. (5) Reflect any material mismatch between a position and its hedge. (6) Recognize the effect that liquidity horizons have on dynamic hedging strategies. In such cases, a Board-regulated institution must: (i) Choose to model the rebalancing of the hedge consistently over the relevant set of trading positions; (ii) Demonstrate that the inclusion of rebalancing results in a more appropriate risk measurement; (iii) Demonstrate that the market for the hedge is sufficiently liquid to permit rebalancing during periods of stress; and (iv) Capture in the incremental risk model any residual risks arising from such hedging strategies. (7) Reflect the nonlinear impact of options and other positions with material nonlinear behavior with respect to default and migration changes. (8) Maintain consistency with the Board-regulated institution's internal risk management methodologies for identifying, measuring, and managing risk. (c) Calculation of incremental risk capital requirement. The incremental risk capital requirement is the greater of: (1) The average of the incremental risk measures over the previous 12 weeks; or (2) The most recent incremental risk measure. Sec. 217.209 Comprehensive risk. (a) General requirement. (1) Subject to the prior approval of the Board, a Board-regulated institution may use the method in this section to measure comprehensive risk, that is, all price risk, for one or more portfolios of correlation trading positions. (2) A Board-regulated institution that measures the price risk of a portfolio of correlation trading positions using internal models must calculate at least weekly a comprehensive risk measure that captures all price risk according to the requirements of this section. The comprehensive risk measure is either: (i) The sum of: (A) The Board-regulated institution's modeled measure of all price risk determined according to the requirements in paragraph (b) of this section; and (B) A surcharge for the Board-regulated institution's modeled correlation trading positions equal to the total specific risk add-on for such positions as calculated under section 210 of this subpart multiplied by 8.0 percent; or (ii) With approval of the Board and provided the Board-regulated institution has met the requirements of this section for a period of at least one year and can demonstrate the effectiveness of the model through the results of ongoing model validation efforts including robust benchmarking, the greater of: (A) The Board-regulated institution's modeled measure of all price risk determined according to the requirements in paragraph (b) of this section; or (B) The total specific risk add-on that would apply to the bank's modeled correlation trading positions as calculated under section 210 of this subpart multiplied by 8.0 percent. (b) Requirements for modeling all price risk. If a Board-regulated institution uses an internal model to measure the price risk of a portfolio of correlation trading positions: (1) The internal model must measure comprehensive risk over a one- year time horizon at a one-tail, 99.9 percent confidence level, either under the assumption of a constant level of risk, or under the assumption of constant positions. (2) The model must capture all material price risk, including but not limited to the following: (i) The risks associated with the contractual structure of cash flows of the position, its issuer, and its underlying exposures; (ii) Credit spread risk, including nonlinear price risks; (iii) The volatility of implied correlations, including nonlinear price risks such as the cross-effect between spreads and correlations; (iv) Basis risk; [[Page 608]] (v) Recovery rate volatility as it relates to the propensity for recovery rates to affect tranche prices; and (vi) To the extent the comprehensive risk measure incorporates the benefits of dynamic hedging, the static nature of the hedge over the liquidity horizon must be recognized. In such cases, a Board-regulated institution must: (A) Choose to model the rebalancing of the hedge consistently over the relevant set of trading positions; (B) Demonstrate that the inclusion of rebalancing results in a more appropriate risk measurement; (C) Demonstrate that the market for the hedge is sufficiently liquid to permit rebalancing during periods of stress; and (D) Capture in the comprehensive risk model any residual risks arising from such hedging strategies; (3) The Board-regulated institution must use market data that are relevant in representing the risk profile of the Board-regulated institution's correlation trading positions in order to ensure that the Board-regulated institution fully captures the material risks of the correlation trading positions in its comprehensive risk measure in accordance with this section; and (4) The Board-regulated institution must be able to demonstrate that its model is an appropriate representation of comprehensive risk in light of the historical price variation of its correlation trading positions. (c) Requirements for stress testing. (1) A Board-regulated institution must at least weekly apply specific, supervisory stress scenarios to its portfolio of correlation trading positions that capture changes in: (i) Default rates; (ii) Recovery rates; (iii) Credit spreads; (iv) Correlations of underlying exposures; and (v) Correlations of a correlation trading position and its hedge. (2) Other requirements. (i) A Board-regulated institution must retain and make available to the Board the results of the supervisory stress testing, including comparisons with the capital requirements generated by the Board-regulated institution's comprehensive risk model. (ii) A Board-regulated institution must report to the Board promptly any instances where the stress tests indicate any material deficiencies in the comprehensive risk model. (d) Calculation of comprehensive risk capital requirement. The comprehensive risk capital requirement is the greater of: (1) The average of the comprehensive risk measures over the previous 12 weeks; or (2) The most recent comprehensive risk measure. Sec. 217.210 Standardized measurement method for specific risk. (a) General requirement. A Board-regulated institution must calculate a total specific risk add-on for each portfolio of debt and equity positions for which the Board-regulated institution's VaR-based measure does not capture all material aspects of specific risk and for all securitization positions that are not modeled under Sec. 217.209. A Board-regulated institution must calculate each specific risk add-on in accordance with the requirements of this section. Notwithstanding any other definition or requirement in this subpart, a position that would have qualified as a debt position or an equity position but for the fact that it qualifies as a correlation trading position under paragraph (2) of the definition of correlation trading position in Sec. 217.2, shall be considered a debt position or an equity position, respectively, for purposes of this section 210 of this subpart. (1) The specific risk add-on for an individual debt or securitization position that represents sold credit protection is capped at the notional amount of the credit derivative contract. The specific risk add-on for an individual debt or securitization position that represents purchased credit protection is capped at the current fair value of the transaction plus the absolute value of the present value of all remaining payments to the protection seller under the transaction. This sum is equal to the value of the protection leg of the transaction. (2) For debt, equity, or securitization positions that are derivatives with linear payoffs, a Board-regulated institution must assign a specific risk- [[Page 609]] weighting factor to the fair value of the effective notional amount of the underlying instrument or index portfolio, except for a securitization position for which the Board-regulated institution directly calculates a specific risk add-on using the SFA in paragraph (b)(2)(vii)(B) of this section. A swap must be included as an effective notional position in the underlying instrument or portfolio, with the receiving side treated as a long position and the paying side treated as a short position. For debt, equity, or securitization positions that are derivatives with nonlinear payoffs, a Board-regulated institution must risk weight the fair value of the effective notional amount of the underlying instrument or portfolio multiplied by the derivative's delta. (3) For debt, equity, or securitization positions, a Board-regulated institution may net long and short positions (including derivatives) in identical issues or identical indices. A Board-regulated institution may also net positions in depositary receipts against an opposite position in an identical equity in different markets, provided that the Board- regulated institution includes the costs of conversion. (4) A set of transactions consisting of either a debt position and its credit derivative hedge or a securitization position and its credit derivative hedge has a specific risk add-on of zero if: (i) The debt or securitization position is fully hedged by a total return swap (or similar instrument where there is a matching of swap payments and changes in fair value of the debt or securitization position); (ii) There is an exact match between the reference obligation of the swap and the debt or securitization position; (iii) There is an exact match between the currency of the swap and the debt or securitization position; and (iv) There is either an exact match between the maturity date of the swap and the maturity date of the debt or securitization position; or, in cases where a total return swap references a portfolio of positions with different maturity dates, the total return swap maturity date must match the maturity date of the underlying asset in that portfolio that has the latest maturity date. (5) The specific risk add-on for a set of transactions consisting of either a debt position and its credit derivative hedge or a securitization position and its credit derivative hedge that does not meet the criteria of paragraph (a)(4) of this section is equal to 20.0 percent of the capital requirement for the side of the transaction with the higher specific risk add-on when: (i) The credit risk of the position is fully hedged by a credit default swap or similar instrument; (ii) There is an exact match between the reference obligation of the credit derivative hedge and the debt or securitization position; (iii) There is an exact match between the currency of the credit derivative hedge and the debt or securitization position; and (iv) There is either an exact match between the maturity date of the credit derivative hedge and the maturity date of the debt or securitization position; or, in the case where the credit derivative hedge has a standard maturity date: (A) The maturity date of the credit derivative hedge is within 30 business days of the maturity date of the debt or securitization position; or (B) For purchased credit protection, the maturity date of the credit derivative hedge is later than the maturity date of the debt or securitization position, but is no later than the standard maturity date for that instrument that immediately follows the maturity date of the debt or securitization position. The maturity date of the credit derivative hedge may not exceed the maturity date of the debt or securitization position by more than 90 calendar days. (6) The specific risk add-on for a set of transactions consisting of either a debt position and its credit derivative hedge or a securitization position and its credit derivative hedge that does not meet the criteria of either paragraph (a)(4) or (a)(5) of this section, but in which all or substantially all of the price risk has been hedged, is equal to the specific risk add-on for the side of the transaction with the higher specific risk add-on. [[Page 610]] (b) Debt and securitization positions. (1) The total specific risk add-on for a portfolio of debt or securitization positions is the sum of the specific risk add-ons for individual debt or securitization positions, as computed under this section. To determine the specific risk add-on for individual debt or securitization positions, a Board- regulated institution must multiply the absolute value of the current fair value of each net long or net short debt or securitization position in the portfolio by the appropriate specific risk-weighting factor as set forth in paragraphs (b)(2)(i) through (b)(2)(vii) of this section. (2) For the purpose of this section, the appropriate specific risk- weighting factors include: (i) Sovereign debt positions. (A) In accordance with Table 1 to Sec. 217.210, a Board-regulated institution must assign a specific risk-weighting factor to a sovereign debt position based on the CRC applicable to the sovereign, and, as applicable, the remaining contractual maturity of the position, or if there is no CRC applicable to the sovereign, based on whether the sovereign entity is a member of the OECD. Notwithstanding any other provision in this subpart, sovereign debt positions that are backed by the full faith and credit of the United States are treated as having a CRC of 0. Table 1 to Sec. 217.210--Specific Risk-Weighting Factors for Sovereign Debt Positions ------------------------------------------------------------------------ ------------------------------------------------------------------------ Specific risk-weighting factor (in percent) ------------------------------------------------------------------------ CRC: 0-1.......................... 0.0 -------------------------------------- 2-3.......................... Remaining 0.25 contractual maturity of 6 months or less. Remaining 1.0 contractual maturity of greater than 6 and up to and including 24 months. Remaining 1.6 contractual maturity exceeds 24 months. -------------------------------------- 4-6.......................... 8.0 -------------------------------------- 7............................ 12.0 ------------------------------------------------------------------------ OECD Member with No CRC.......... 0.0 ------------------------------------------------------------------------ Non-OECD Member with No CRC...... 8.0 ------------------------------------------------------------------------ Sovereign Default................ 12.0 ------------------------------------------------------------------------ (B) Notwithstanding paragraph (b)(2)(i)(A) of this section, a Board- regulated institution may assign to a sovereign debt position a specific risk-weighting factor that is lower than the applicable specific risk- weighting factor in Table 1 to Sec. 217.210 if: (1) The position is denominated in the sovereign entity's currency; (2) The Board-regulated institution has at least an equivalent amount of liabilities in that currency; and (3) The sovereign entity allows banks under its jurisdiction to assign the lower specific risk-weighting factor to the same exposures to the sovereign entity. (C) A Board-regulated institution must assign a 12.0 percent specific risk-weighting factor to a sovereign debt position immediately upon determination a default has occurred; or if a default has occurred within the previous five years. (D) A Board-regulated institution must assign a 0.0 percent specific risk-weighting factor to a sovereign debt position if the sovereign entity is a member of the OECD and does not have a CRC assigned to it, except as provided in paragraph (b)(2)(i)(C) of this section. (E) A Board-regulated institution must assign an 8.0 percent specific risk-weighting factor to a sovereign debt position if the sovereign is not a member of the OECD and does not have a CRC assigned to it, except as provided in paragraph (b)(2)(i)(C) of this section. [[Page 611]] (ii) Certain supranational entity and multilateral development bank debt positions. A Board-regulated institution may assign a 0.0 percent specific risk-weighting factor to a debt position that is an exposure to the Bank for International Settlements, the European Central Bank, the European Commission, the International Monetary Fund, the European Stability Mechanism, the European Financial Stability Facility, or an MDB. (iii) GSE debt positions. A Board-regulated institution must assign a 1.6 percent specific risk-weighting factor to a debt position that is an exposure to a GSE. Notwithstanding the foregoing, a Board-regulated institution must assign an 8.0 percent specific risk-weighting factor to preferred stock issued by a GSE. (iv) Depository institution, foreign bank, and credit union debt positions. (A) Except as provided in paragraph (b)(2)(iv)(B) of this section, a Board-regulated institution must assign a specific risk- weighting factor to a debt position that is an exposure to a depository institution, a foreign bank, or a credit union, in accordance with Table 2 to Sec. 217.210, based on the CRC that corresponds to that entity's home country or the OECD membership status of that entity's home country if there is no CRC applicable to the entity's home country, and, as applicable, the remaining contractual maturity of the position. Table 2 to Sec. 217.210--Specific Risk-Weighting Factors for Depository Institution, Foreign Bank, and Credit Union Debt Positions ------------------------------------------------------------------------ ------------------------------------------------------------------------ Specific risk-weighting factor (in percent) ------------------------------------------------------------------------ CRC 0-2 or OECD Member with No Remaining contractual 0.25 CRC. maturity of 6 months or less. Remaining contractual 1.0 maturity of greater than 6 and up to and including 24 months. Remaining contractual 1.6 maturity exceeds 24 months. ------------------------------------------------------------------------ CRC 3......................... 8.0 ------------------------------------------------------------------------ CRC 4-7....................... 12.0 ------------------------------------------------------------------------ Non-OECD Member with No CRC... 8.0 ------------------------------------------------------------------------ Sovereign Default............. 12.0 ------------------------------------------------------------------------ (B) A Board-regulated institution must assign a specific risk- weighting factor of 8.0 percent to a debt position that is an exposure to a depository institution or a foreign bank that is includable in the depository institution's or foreign bank's regulatory capital and that is not subject to deduction as a reciprocal holding under Sec. 217.22. (C) A Board-regulated institution must assign a 12.0 percent specific risk-weighting factor to a debt position that is an exposure to a foreign bank immediately upon determination that a default by the foreign bank's home country has occurred or if a default by the foreign bank's home country has occurred within the previous five years. (v) PSE debt positions. (A) Except as provided in paragraph (b)(2)(v)(B) of this section, a Board-regulated institution must assign a specific risk-weighting factor to a debt position that is an exposure to a PSE in accordance with Tables 3 and 4 to Sec. 217.210 depending on the position's categorization as a general obligation or revenue obligation based on the CRC that corresponds to the PSE's home country or the OECD membership status of the PSE's home country if there is no CRC applicable to the PSE's home country, and, as applicable, the remaining contractual maturity of the position, as set forth in Tables 3 and 4 of this section. (B) A Board-regulated institution may assign a lower specific risk- weighting factor than would otherwise apply under Tables 3 and 4 of this section to a debt position that is an exposure to a foreign PSE if: [[Page 612]] (1) The PSE's home country allows banks under its jurisdiction to assign a lower specific risk-weighting factor to such position; and (2) The specific risk-weighting factor is not lower than the risk weight that corresponds to the PSE's home country in accordance with Tables 3 and 4 of this section. (C) A Board-regulated institution must assign a 12.0 percent specific risk-weighting factor to a PSE debt position immediately upon determination that a default by the PSE's home country has occurred or if a default by the PSE's home country has occurred within the previous five years. Table 3 to Sec. 217.210--Specific Risk-Weighting Factors for PSE General Obligation Debt Positions ------------------------------------------------------------------------ ------------------------------------------------------------------------ General obligation specific risk- weighting factor (in percent) ------------------------------------------------------------------------ CRC 0-2 or OECD Member with No Remaining contractual 0.25 CRC. maturity of 6 months or less. Remaining contractual 1.0 maturity of greater than 6 and up to and including 24 months. Remaining contractual 1.6 maturity exceeds 24 months. ------------------------------------------------------------------------ CRC 3......................... 8.0 ------------------------------------------------------------------------ CRC 4-7....................... 12.0 ------------------------------------------------------------------------ Non-OECD Member with No CRC... 8.0 ------------------------------------------------------------------------ Sovereign Default............. 12.0 ------------------------------------------------------------------------ Table 4 to Sec. 217.210--Specific Risk-Weighting Factors for PSE Revenue Obligation Debt Positions ------------------------------------------------------------------------ ------------------------------------------------------------------------ Revenue obligation specific risk- weighting factor (in percent) ------------------------------------------------------------------------ CRC 0-1 or OECD Member with No Remaining contractual 0.25 CRC. maturity of 6 months or less. Remaining contractual 1.0 maturity of greater than 6 and up to and including 24 months. Remaining contractual 1.6 maturity exceeds 24 months. ------------------------------------------------------------------------ CRC 2-3....................... 8.0 ------------------------------------------------------------------------ CRC 4-7....................... 12.0 ------------------------------------------------------------------------ Non-OECD Member with No CRC... 8.0 ------------------------------------------------------------------------ Sovereign Default............. 12.0 ------------------------------------------------------------------------ (vi) Corporate debt positions. Except as otherwise provided in paragraph (b)(2)(vi)(B) of this section, a Board-regulated institution must assign a specific risk-weighting factor to a corporate debt position in accordance with the investment grade methodology in paragraph (b)(2)(vi)(A) of this section. (A) Investment grade methodology. (1) For corporate debt positions that are exposures to entities that have issued and outstanding publicly traded instruments, a Board-regulated institution must assign a specific risk-weighting factor based on the category and remaining contractual maturity of the position, in accordance with Table 5 to Sec. 217.210. For purposes of this paragraph (b)(2)(vi)(A)(1), the Board-regulated institution must determine whether the position is in the investment grade or not investment grade category. [[Page 613]] Table 5 to Sec. 217.210--Specific Risk-Weighting Factors for Corporate Debt Positions Under the Investment Grade Methodology ------------------------------------------------------------------------ Specific risk- Category Remaining contractual weighting factor maturity (in percent) ------------------------------------------------------------------------ Investment Grade.............. 6 months or less...... 0.50 Greater than 6 and up 2.00 to and including 24 months. Greater than 24 months 4.00 ------------------------------------------------------------------------ Non-investment Grade.................................. 12.00 ------------------------------------------------------------------------ (2) A Board-regulated institution must assign an 8.0 percent specific risk-weighting factor for corporate debt positions that are exposures to entities that do not have publicly traded instruments outstanding. (B) Limitations. (1) A Board-regulated institution must assign a specific risk-weighting factor of at least 8.0 percent to an interest- only mortgage-backed security that is not a securitization position. (2) A Board-regulated institution shall not assign a corporate debt position a specific risk-weighting factor that is lower than the specific risk-weighting factor that corresponds to the CRC of the issuer's home country, if applicable, in table 1 of this section. (vii) Securitization positions--(A) General requirements. (1) A Board-regulated institution that is not an advanced approaches Board- regulated institution or is a U.S. intermediate holding company that is required to be established or designated pursuant to 12 CFR 252.153 and that is not calculating risk-weighted assets according to Subpart E must assign a specific risk-weighting factor to a securitization position using either the simplified supervisory formula approach (SSFA) in paragraph (b)(2)(vii)(C) of this section (and Sec. 217.211) or assign a specific risk-weighting factor of 100 percent to the position. (2) A Board-regulated institution that is an advanced approaches Board-regulated institution or is a U.S. intermediate holding company that is required to be established or designated pursuant to 12 CFR 252.153 and that is calculating risk-weighted assets according to Subpart E must calculate a specific risk add-on for a securitization position in accordance with paragraph (b)(2)(vii)(B) of this section if the Board-regulated institution and the securitization position each qualifies to use the SFA in Sec. 217.143. A Board-regulated institution that is an advanced approaches Board-regulated institution or is a U.S. intermediate holding company that is required to be established or designated pursuant to 12 CFR 252.153 and that is calculating risk- weighted assets according to Subpart E with a securitization position that does not qualify for the SFA under paragraph (b)(2)(vii)(B) of this section may assign a specific risk-weighting factor to the securitization position using the SSFA in accordance with paragraph (b)(2)(vii)(C) of this section or assign a specific risk-weighting factor of 100 percent to the position. (3) A Board-regulated institution must treat a short securitization position as if it is a long securitization position solely for calculation purposes when using the SFA in paragraph (b)(2)(vii)(B) of this section or the SSFA in paragraph (b)(2)(vii)(C) of this section. (B) SFA. To calculate the specific risk add-on for a securitization position using the SFA, a Board-regulated institution that is an advanced approaches Board-regulated institution must set the specific risk add-on for the position equal to the risk-based capital requirement as calculated under Sec. 217.143. (C) SSFA. To use the SSFA to determine the specific risk-weighting factor for a securitization position, a Board-regulated institution must calculate the specific risk-weighting factor in accordance with Sec. 217.211. (D) Nth-to-default credit derivatives. A Board-regulated institution must determine a specific risk add-on using the SFA in paragraph (b)(2)(vii)(B) of this section, or assign a specific risk- [[Page 614]] weighting factor using the SSFA in paragraph (b)(2)(vii)(C) of this section to an n\th\-to-default credit derivative in accordance with this paragraph (b)(2)(vii)(D), regardless of whether the Board-regulated institution is a net protection buyer or net protection seller. A Board- regulated institution must determine its position in the n\th\-to- default credit derivative as the largest notional amount of all the underlying exposures. (1) For purposes of determining the specific risk add-on using the SFA in paragraph (b)(2)(vii)(B) of this section or the specific risk- weighting factor for an n\th\-to-default credit derivative using the SSFA in paragraph (b)(2)(vii)(C) of this section the Board-regulated institution must calculate the attachment point and detachment point of its position as follows: (i) The attachment point (parameter A) is the ratio of the sum of the notional amounts of all underlying exposures that are subordinated to the Board-regulated institution's position to the total notional amount of all underlying exposures. For purposes of the SSFA, parameter A is expressed as a decimal value between zero and one. For purposes of using the SFA in paragraph (b)(2)(vii)(B) of this section to calculate the specific add-on for its position in an n\th\-to-default credit derivative, parameter A must be set equal to the credit enhancement level (L) input to the SFA formula in section 143 of this subpart. In the case of a first-to-default credit derivative, there are no underlying exposures that are subordinated to the Board-regulated institution's position. In the case of a second-or-subsequent-to-default credit derivative, the smallest (n-1) notional amounts of the underlying exposure(s) are subordinated to the Board-regulated institution's position. (ii) The detachment point (parameter D) equals the sum of parameter A plus the ratio of the notional amount of the Board-regulated institution's position in the n\th\-to-default credit derivative to the total notional amount of all underlying exposures. For purposes of the SSFA, parameter A is expressed as a decimal value between zero and one. For purposes of using the SFA in paragraph (b)(2)(vii)(B) of this section to calculate the specific risk add-on for its position in an n\th\-to-default credit derivative, parameter D must be set to equal the L input plus the thickness of tranche T input to the SFA formula in Sec. 217.143 of this subpart. (2) A Board-regulated institution that does not use the SFA in paragraph (b)(2)(vii)(B) of this section to determine a specific risk- add on, or the SSFA in paragraph (b)(2)(vii)(C) of this section to determine a specific risk-weighting factor for its position in an n\th\- to-default credit derivative must assign a specific risk-weighting factor of 100 percent to the position. (c) Modeled correlation trading positions. For purposes of calculating the comprehensive risk measure for modeled correlation trading positions under either paragraph (a)(2)(i) or (a)(2)(ii) of Sec. 217.209, the total specific risk add-on is the greater of: (1) The sum of the Board-regulated institution's specific risk add- ons for each net long correlation trading position calculated under this section; or (2) The sum of the Board-regulated institution's specific risk add- ons for each net short correlation trading position calculated under this section. (d) Non-modeled securitization positions. For securitization positions that are not correlation trading positions and for securitizations that are correlation trading positions not modeled under Sec. 217.209, the total specific risk add-on is the greater of: (1) The sum of the Board-regulated institution's specific risk add- ons for each net long securitization position calculated under this section; or (2) The sum of the Board-regulated institution's specific risk add- ons for each net short securitization position calculated under this section. (e) Equity positions. The total specific risk add-on for a portfolio of equity positions is the sum of the specific risk add-ons of the individual equity positions, as computed under this section. To determine the specific risk add-on of individual equity positions, a Board-regulated institution must multiply the absolute value of the current fair value of each net long or net short equity position by the appropriate specific risk-weighting factor as determined under this paragraph (e): [[Page 615]] (1) The Board-regulated institution must multiply the absolute value of the current fair value of each net long or net short equity position by a specific risk-weighting factor of 8.0 percent. For equity positions that are index contracts comprising a well-diversified portfolio of equity instruments, the absolute value of the current fair value of each net long or net short position is multiplied by a specific risk- weighting factor of 2.0 percent.\34\ --------------------------------------------------------------------------- \34\ A portfolio is well-diversified if it contains a large number of individual equity positions, with no single position representing a substantial portion of the portfolio's total fair value. --------------------------------------------------------------------------- (2) For equity positions arising from the following futures-related arbitrage strategies, a Board-regulated institution may apply a 2.0 percent specific risk-weighting factor to one side (long or short) of each position with the opposite side exempt from an additional capital requirement: (i) Long and short positions in exactly the same index at different dates or in different market centers; or (ii) Long and short positions in index contracts at the same date in different, but similar indices. (3) For futures contracts on main indices that are matched by offsetting positions in a basket of stocks comprising the index, a Board-regulated institution may apply a 2.0 percent specific risk- weighting factor to the futures and stock basket positions (long and short), provided that such trades are deliberately entered into and separately controlled, and that the basket of stocks is comprised of stocks representing at least 90.0 percent of the capitalization of the index. A main index refers to the Standard & Poor's 500 Index, the FTSE All-World Index, and any other index for which the Board-regulated institution can demonstrate to the satisfaction of the Board that the equities represented in the index have liquidity, depth of market, and size of bid-ask spreads comparable to equities in the Standard & Poor's 500 Index and FTSE All-World Index. (f) Due diligence requirements for securitization positions. (1) A Board-regulated institution must demonstrate to the satisfaction of the Board a comprehensive understanding of the features of a securitization position that would materially affect the performance of the position by conducting and documenting the analysis set forth in paragraph (f)(2) of this section. The Board-regulated institution's analysis must be commensurate with the complexity of the securitization position and the materiality of the position in relation to capital. (2) A Board-regulated institution must demonstrate its comprehensive understanding for each securitization position by: (i) Conducting an analysis of the risk characteristics of a securitization position prior to acquiring the position and document such analysis within three business days after acquiring position, considering: (A) Structural features of the securitization that would materially impact the performance of the position, for example, the contractual cash flow waterfall, waterfall-related triggers, credit enhancements, liquidity enhancements, fair value triggers, the performance of organizations that service the position, and deal-specific definitions of default; (B) Relevant information regarding the performance of the underlying credit exposure(s), for example, the percentage of loans 30, 60, and 90 days past due; default rates; prepayment rates; loans in foreclosure; property types; occupancy; average credit score or other measures of creditworthiness; average loan-to-value ratio; and industry and geographic diversification data on the underlying exposure(s); (C) Relevant market data of the securitization, for example, bid-ask spreads, most recent sales price and historical price volatility, trading volume, implied market rating, and size, depth and concentration level of the market for the securitization; and (D) For resecuritization positions, performance information on the underlying securitization exposures, for example, the issuer name and credit quality, and the characteristics and performance of the exposures underlying the securitization exposures. (ii) On an on-going basis (no less frequently than quarterly), evaluating, [[Page 616]] reviewing, and updating as appropriate the analysis required under paragraph (f)(1) of this section for each securitization position. [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 79 FR 78295, Dec. 30, 2014; 84 FR 35269, July 22, 2019; 85 FR 4419, Jan. 24, 2020] Sec. 217.211 Simplified supervisory formula approach (SSFA). (a) General requirements. To use the SSFA to determine the specific risk-weighting factor for a securitization position, a Board-regulated institution must have data that enables it to assign accurately the parameters described in paragraph (b) of this section. Data used to assign the parameters described in paragraph (b) of this section must be the most currently available data; if the contracts governing the underlying exposures of the securitization require payments on a monthly or quarterly basis, the data used to assign the parameters described in paragraph (b) of this section must be no more than 91 calendar days old. A Board-regulated institution that does not have the appropriate data to assign the parameters described in paragraph (b) of this section must assign a specific risk-weighting factor of 100 percent to the position. (b) SSFA parameters. To calculate the specific risk-weighting factor for a securitization position using the SSFA, a Board-regulated institution must have accurate information on the five inputs to the SSFA calculation described in paragraphs (b)(1) through (b)(5) of this section. (1) KG is the weighted-average (with unpaid principal used as the weight for each exposure) total capital requirement of the underlying exposures calculated using subpart D. KG is expressed as a decimal value between zero and one (that is, an average risk weight of 100 percent represents a value of KG equal to 0.08). (2) Parameter W is expressed as a decimal value between zero and one. Parameter W is the ratio of the sum of the dollar amounts of any underlying exposures of the securitization that meet any of the criteria as set forth in paragraphs (b)(2)(i) through (vi) of this section to the balance, measured in dollars, of underlying exposures: (i) Ninety days or more past due; (ii) Subject to a bankruptcy or insolvency proceeding; (iii) In the process of foreclosure; (iv) Held as real estate owned; (v) Has contractually deferred payments for 90 days or more, other than principal or interest payments deferred on: (A) Federally-guaranteed student loans, in accordance with the terms of those guarantee programs; or (B) Consumer loans, including non-federally-guaranteed student loans, provided that such payments are deferred pursuant to provisions included in the contract at the time funds are disbursed that provide for period(s) of deferral that are not initiated based on changes in the creditworthiness of the borrower; or (vi) Is in default. (3) Parameter A is the attachment point for the position, which represents the threshold at which credit losses will first be allocated to the position. Except as provided in Sec. 217.210(b)(2)(vii)(D) for n\th\-to-default credit derivatives, parameter A equals the ratio of the current dollar amount of underlying exposures that are subordinated to the position of the Board-regulated institution to the current dollar amount of underlying exposures. Any reserve account funded by the accumulated cash flows from the underlying exposures that is subordinated to the position that contains the Board-regulated institution's securitization exposure may be included in the calculation of parameter A to the extent that cash is present in the account. Parameter A is expressed as a decimal value between zero and one. (4) Parameter D is the detachment point for the position, which represents the threshold at which credit losses of principal allocated to the position would result in a total loss of principal. Except as provided in Sec. 217.210(b)(2)(vii)(D) for n\th\-to-default credit derivatives, parameter D equals parameter A plus the ratio of the current dollar amount of the securitization positions that are pari passu with the position (that is, have equal seniority with respect to credit risk) to the current dollar amount of the underlying exposures. Parameter D [[Page 617]] is expressed as a decimal value between zero and one. (5) A supervisory calibration parameter, p, is equal to 0.5 for securitization positions that are not resecuritization positions and equal to 1.5 for resecuritization positions. (c) Mechanics of the SSFA. KG and W are used to calculate KA, the augmented value of KG, which reflects the observed credit quality of the underlying exposures. KA is defined in paragraph (d) of this section. The values of parameters A and D, relative to KA determine the specific risk-weighting factor assigned to a position as described in this paragraph (c) and paragraph (d) of this section. The specific risk-weighting factor assigned to a securitization position, or portion of a position, as appropriate, is the larger of the specific risk-weighting factor determined in accordance with this paragraph (c), paragraph (d) of this section, and a specific risk-weighting factor of 1.6 percent. (1) When the detachment point, parameter D, for a securitization position is less than or equal to KA, the position must be assigned a specific risk-weighting factor of 100 percent. (2) When the attachment point, parameter A, for a securitization position is greater than or equal to KA, the Board-regulated institution must calculate the specific risk-weighting factor in accordance with paragraph (d) of this section. (3) When A is less than KA and D is greater than KA, the specific risk-weighting factor is a weighted-average of 1.00 and KSSFA calculated under paragraphs (c)(3)(i) and (c)(3)(ii) of this section. For the purpose of this calculation: (i) The weight assigned to 1.00 equals [[Page 618]] [GRAPHIC] [TIFF OMITTED] TR11OC13.057 Sec. 217.212 Market risk disclosures. (a) Scope. A Board-regulated institution must comply with this section unless it is a consolidated subsidiary of a bank holding company or a depository institution that is subject to these requirements or of a non-U.S. banking organization that is subject to comparable public disclosure requirements in its home jurisdiction. A Board-regulated institution must make timely public disclosures each calendar quarter. If a significant change occurs, such that the most recent reporting amounts are no longer reflective of the Board-regulated institution's capital adequacy and risk profile, then a brief discussion of this change and its likely impact must be provided as soon as practicable thereafter. Qualitative disclosures that typically do not change each quarter may be disclosed annually, provided any significant changes are disclosed in the interim. If a Board-regulated institution believes that disclosure of specific commercial or financial information would prejudice seriously its position by making public certain information that is either proprietary or confidential in nature, the Board- regulated institution is not required to disclose these specific items, but must disclose more general information about the subject matter of the requirement, together with the fact that, and the reason why, the specific items of information have not been disclosed. The Board- regulated institution's management may provide all of the disclosures required by this section [[Page 619]] in one place on the Board-regulated institution's public Web site or may provide the disclosures in more than one public financial report or other regulatory reports, provided that the Board-regulated institution publicly provides a summary table specifically indicating the location(s) of all such disclosures. (b) Disclosure policy. The Board-regulated institution must have a formal disclosure policy approved by the board of directors that addresses the Board-regulated institution's approach for determining its market risk disclosures. The policy must address the associated internal controls and disclosure controls and procedures. The board of directors and senior management must ensure that appropriate verification of the disclosures takes place and that effective internal controls and disclosure controls and procedures are maintained. One or more senior officers of the Board-regulated institution must attest that the disclosures meet the requirements of this subpart, and the board of directors and senior management are responsible for establishing and maintaining an effective internal control structure over financial reporting, including the disclosures required by this section. (c) Quantitative disclosures. (1) For each material portfolio of covered positions, the Board-regulated institution must provide timely public disclosures of the following information at least quarterly: (i) The high, low, and mean VaR-based measures over the reporting period and the VaR-based measure at period-end; (ii) The high, low, and mean stressed VaR-based measures over the reporting period and the stressed VaR-based measure at period-end; (iii) The high, low, and mean incremental risk capital requirements over the reporting period and the incremental risk capital requirement at period-end; (iv) The high, low, and mean comprehensive risk capital requirements over the reporting period and the comprehensive risk capital requirement at period-end, with the period-end requirement broken down into appropriate risk classifications (for example, default risk, migration risk, correlation risk); (v) Separate measures for interest rate risk, credit spread risk, equity price risk, foreign exchange risk, and commodity price risk used to calculate the VaR-based measure; and (vi) A comparison of VaR-based estimates with actual gains or losses experienced by the Board-regulated institution, with an analysis of important outliers. (2) In addition, the Board-regulated institution must disclose publicly the following information at least quarterly: (i) The aggregate amount of on-balance sheet and off-balance sheet securitization positions by exposure type; and (ii) The aggregate amount of correlation trading positions. (d) Qualitative disclosures. For each material portfolio of covered positions, the Board-regulated institution must provide timely public disclosures of the following information at least annually after the end of the fourth calendar quarter, or more frequently in the event of material changes for each portfolio: (1) The composition of material portfolios of covered positions; (2) The Board-regulated institution's valuation policies, procedures, and methodologies for covered positions including, for securitization positions, the methods and key assumptions used for valuing such positions, any significant changes since the last reporting period, and the impact of such change; (3) The characteristics of the internal models used for purposes of this subpart. For the incremental risk capital requirement and the comprehensive risk capital requirement, this must include: (i) The approach used by the Board-regulated institution to determine liquidity horizons; (ii) The methodologies used to achieve a capital assessment that is consistent with the required soundness standard; and (iii) The specific approaches used in the validation of these models; (4) A description of the approaches used for validating and evaluating the [[Page 620]] accuracy of internal models and modeling processes for purposes of this subpart; (5) For each market risk category (that is, interest rate risk, credit spread risk, equity price risk, foreign exchange risk, and commodity price risk), a description of the stress tests applied to the positions subject to the factor; (6) The results of the comparison of the Board-regulated institution's internal estimates for purposes of this subpart with actual outcomes during a sample period not used in model development; (7) The soundness standard on which the Board-regulated institution's internal capital adequacy assessment under this subpart is based, including a description of the methodologies used to achieve a capital adequacy assessment that is consistent with the soundness standard; (8) A description of the Board-regulated institution's processes for monitoring changes in the credit and market risk of securitization positions, including how those processes differ for resecuritization positions; and (9) A description of the Board-regulated institution's policy governing the use of credit risk mitigation to mitigate the risks of securitization and resecuritization positions. Sec. Sec. 217.213-217.299 [Reserved] Subpart G_Transition Provisions Sec. 217.300 Transitions. (a) Capital conservation and countercyclical capital buffer. (1) From January 1, 2014 through December 31, 2015, a Board-regulated institution is not subject to limits on distributions and discretionary bonus payments under Sec. 217.11 of subpart B of this part notwithstanding the amount of its capital conservation buffer or any applicable countercyclical capital buffer amount. (2) Notwithstanding Sec. 217.11, beginning January 1, 2016 through December 31, 2018 a Board-regulated institution's maximum payout ratio shall be determined as set forth in Table 1 to Sec. 217.300. Table 1 to Sec. 217.300 ------------------------------------------------------------------------ Maximum payout ratio (as a Transition period Capital conservation buffer percentage of eligible retained income) ------------------------------------------------------------------------ Calendar year 2016.... Greater than 0.625 percent No payout ratio plus 25 percent of any limitation applicable countercyclical applies under capital buffer amount and this section. 25 percent of any applicable GSIB surcharge. Less than or equal to 0.625 60 percent. percent plus 25 percent of any applicable countercyclical capital buffer amount and 25 percent of any applicable GSIB surcharge, and greater than 0.469 percent plus 17.25 percent of any applicable countercyclical capital buffer amount and 17.25 percent of any applicable GSIB surcharge. Less than or equal to 0.469 40 percent. percent plus 17.25 percent of any applicable countercyclical capital buffer amount and 17.25 percent of any applicable GSIB surcharge, and greater than 0.313 percent plus 12.5 percent of any applicable countercyclical capital buffer amount and 12.5 percent of any applicable GSIB surcharge. Less than or equal to 0.313 20 percent. percent plus 12.5 percent of any applicable countercyclical capital buffer amount and 12.5 percent of any applicable GSIB surcharge, and greater than 0.156 percent plus 6.25 percent of any applicable countercyclical capital buffer amount and 6.25 percent of any applicable GSIB surcharge. Less than or equal to 0.156 0 percent. percent plus 6.25 percent of any applicable countercyclical capital buffer amount and 6.25 percent of any applicable GSIB surcharge. Calendar year 2017.... Greater than 1.25 percent No payout ratio plus 50 percent of any limitation applicable countercyclical applies under capital buffer amount and this section. 50 percent of any applicable GSIB surcharge. Less than or equal to 1.25 60 percent. percent plus 50 percent of any applicable countercyclical capital buffer amount and 50 percent of any applicable GSIB surcharge, and greater than 0.938 percent plus 37.5 percent of any applicable countercyclical capital buffer amount and 37.5 percent of any applicable GSIB surcharge. [[Page 621]] Less than or equal to 0.938 40 percent. percent plus 37.5 percent of any applicable countercyclical capital buffer amount and 37.5 percent of any applicable GSIB surcharge, and greater than 0.625 percent plus 25 percent of any applicable countercyclical capital buffer amount and 25 percent of any applicable GSIB surcharge. Less than or equal to 0.625 20 percent. percent plus 25 percent of any applicable countercyclical capital buffer amount and 25 percent of any applicable GSIB surcharge, and greater than 0.313 percent plus 12.5 percent of any applicable countercyclical capital buffer amount and 12.5 percent of any applicable GSIB surcharge. Less than or equal to 0.313 0 percent. percent plus 12.5 percent of any applicable countercyclical capital buffer amount and 12.5 percent of any applicable GSIB surcharge. Calendar year 2018.... Greater than 1.875 percent No payout ratio plus 75 percent of any limitation applicable countercyclical applies under capital buffer amount and this section. 75 percent of any applicable GSIB surcharge. Less than or equal to 1.875 60 percent. percent plus 75 percent of any applicable countercyclical capital buffer amount and 75 percent of any applicable GSIB surcharge, and greater than 1.406 percent plus 56.25 percent of any applicable countercyclical capital buffer amount and 56.25 percent of any applicable GSIB surcharge. Less than or equal to 1.406 40 percent percent plus 56.25 percent of any applicable countercyclical capital buffer amount and 56.25 percent of any applicable GSIB surcharge, and greater than 0.938 percent plus 37.5 percent of any applicable countercyclical capital buffer amount and 37.5 percent of any applicable GSIB surcharge. Less than or equal to 0.938 20 percent. percent plus 37.5 percent of any applicable countercyclical capital buffer amount and 37.5 percent of any applicable GSIB surcharge, and greater than 0.469 percent plus 18.75 percent of any applicable countercyclical capital buffer amount and 18.75 percent of any applicable GSIB surcharge. Less than or equal to 0.469 0 percent. percent plus 18.75 percent of any applicable countercyclical capital buffer amount and 18.75 percent of any applicable GSIB surcharge. ------------------------------------------------------------------------ (b) [Reserved] (c) Non-qualifying capital instruments--(1) Depository institution holding companies with total consolidated assets of more than $15 billion as of December 31, 2009 that were not mutual holding companies prior to May 19, 2010. The transition provisions in this paragraph (c)(1) apply to debt or equity instruments that do not meet the criteria for additional tier 1 or tier 2 capital instruments in Sec. 217.20, but that were issued and included in tier 1 or tier 2 capital, respectively (or, in the case of a savings and loan holding company, would have been included in tier 1 or tier 2 capital if the savings and loan holding company had been subject to the general risk-based capital rules under 12 CFR part 225, appendix A), prior to May 19, 2010 (non-qualifying capital instruments), and that were issued by a depository institution holding company with total consolidated assets greater than or equal to $15 billion as of December 31, 2009 that was not a mutual holding company prior to May 19, 2010 (2010 MHC) (depository institution holding company of $15 billion or more). (i) A depository institution holding company of $15 billion or more may include in tier 1 and tier 2 capital non-qualifying capital instruments up to the applicable percentage set forth in Table 8 to Sec. 217.300 of the aggregate outstanding principal amounts of non- qualifying tier 1 and tier 2 capital instruments, respectively, that are outstanding as of January 1, 2014, beginning January 1, 2014, for a depository institution holding company of $15 billion or more that is an advanced approaches Board-regulated institution that is not a savings and loan holding company, and beginning January 1, 2015, for all other depository institution holding companies of $15 billion or more. [[Page 622]] (ii) A depository institution holding company of $15 billion or more must apply the applicable percentages set forth in Table 8 to Sec. 217.300 separately to the aggregate amounts of its tier 1 and tier 2 non-qualifying capital instruments. (iii) The amount of non-qualifying capital instruments that must be excluded from additional tier 1 capital in accordance with this section may be included in tier 2 capital without limitation, provided the instruments meet the criteria for tier 2 capital set forth in Sec. 217.20(d). (iv) Non-qualifying capital instruments that do not meet the criteria for tier 2 capital set forth in Sec. 217.20(d) may be included in tier 2 capital as follows: (A) A depository institution holding company of $15 billion or more that is not an advanced approaches Board-regulated institution may include non-qualifying capital instruments that have been phased-out of tier 1 capital in tier 2 capital, and (B) During calendar years 2014 and 2015, a depository institution holding company of $15 billion or more that is an advanced approaches Board-regulated institution may include non-qualifying capital instruments in tier 2 capital that have been phased out of tier 1 capital in accordance with Table 8 to Sec. 217.300. Beginning January 1, 2016, a depository institution holding company of $15 billion or more that is an advanced approaches Board-regulated institution may include non-qualifying capital instruments in tier 2 capital that have been phased out of tier 1 capital in accordance with Table 8, up to the applicable percentages set forth in Table 9 to Sec. 217.300. (2) Mergers and acquisitions. (i) A depository institution holding company of $15 billion or more that acquires after December 31, 2013 either a depository institution holding company with total consolidated assets of less than $15 billion as of December 31, 2009 (depository institution holding company under $15 billion) or a depository institution holding company that is a 2010 MHC, may include in regulatory capital the non-qualifying capital instruments issued by the acquired organization up to the applicable percentages set forth in Table 8 to Sec. 217.300. (ii) If a depository institution holding company under $15 billion acquires after December 31, 2013 a depository institution holding company under $15 billion or a 2010 MHC, and the resulting organization has total consolidated assets of $15 billion or more as reported on the resulting organization's FR Y-9C for the period in which the transaction occurred, the resulting organization may include in regulatory capital non-qualifying instruments of the resulting organization up to the applicable percentages set forth in Table 8 to Sec. 217.300. Table 8 to Sec. 217.300 ------------------------------------------------------------------------ Percentage of non- qualifying capital instruments includable in additional tier 1 or Transition period (calendar year) tier 2 capital for a depository institution holding company of $15 billion or more ------------------------------------------------------------------------ Calendar year 2014............................ 50 Calendar year 2015............................ 25 Calendar year 2016 and thereafter............. 0 ------------------------------------------------------------------------ (3) Depository institution holding companies under $15 billion and 2010 MHCs. (i) Non-qualifying capital instruments issued by depository institution holding companies under $15 billion and 2010 MHCs prior to May 19, 2010, may be included in additional tier 1 or tier 2 capital if the instrument was included in tier 1 or tier 2 capital, respectively, as of January 1, 2014. (ii) Non-qualifying capital instruments includable in tier 1 capital are subject to a limit of 25 percent of tier 1 capital elements, excluding any non-qualifying capital instruments and after applying all regulatory capital deductions and adjustments to tier 1 capital. (iii) Non-qualifying capital instruments that are not included in tier 1 as a result of the limitation in paragraph (c)(3)(ii) of this section are includable in tier 2 capital. (4) Depository institutions. (i) Beginning on January 1, 2014, a depository institution that is an advanced approaches Board-regulated institution, and beginning on January 1, 2015, all [[Page 623]] other depository institutions, may include in regulatory capital debt or equity instruments issued prior to September 12, 2010 that do not meet the criteria for additional tier 1 or tier 2 capital instruments in Sec. 217.20 but that were included in tier 1 or tier 2 capital respectively as of September 12, 2010 (non-qualifying capital instruments issued prior to September 12, 2010) up to the percentage of the outstanding principal amount of such non-qualifying capital instruments as of January 1, 2014 in accordance with Table 9 to Sec. 217.300. (ii) Table 9 to Sec. 217.300 applies separately to tier 1 and tier 2 non-qualifying capital instruments. (iii) The amount of non-qualifying capital instruments that cannot be included in additional tier 1 capital under this section may be included in tier 2 capital without limitation, provided that the instruments meet the criteria for tier 2 capital instruments under Sec. 217.20(d). Table 9 to Sec. 217.300 ---------------------------------------------------------------------------------------------------------------- Percentage of non-qualifying capital Transition period (calendar year) instruments includable in additional tier 1 or tier 2 capital --------------------------------------------------------------------------------------------------------------- Calendar year 2014................................................ 80 Calendar year 2015................................................ 70 Calendar year 2016................................................ 60 Calendar year 2017................................................ 50 Calendar year 2018................................................ 40 Calendar year 2019................................................ 30 Calendar year 2020................................................ 20 Calendar year 2021................................................ 10 Calendar year 2022 and thereafter................................. 0 ---------------------------------------------------------------------------------------------------------------- (d) [Reserved] (e) Prompt corrective action. For purposes of 12 CFR part 208, subpart D, a Board-regulated institution must calculate its capital measures and tangible equity ratio in accordance with the transition provisions in this section. (f) Until July 21, 2015, this part will not apply to any bank holding company subsidiary of a foreign banking organization that is currently relying on Supervision and Regulation Letter SR 01-01 issued by the Board (as in effect on May 19, 2010). (g) A Board-regulated institution that is not an advanced approaches Board-regulated institution may apply the treatment under Sec. Sec. 217.21 and 217.22(c)(2), (5), (6), and (d)(2) applicable to an advanced approaches Board-regulated institution during the calendar quarter beginning January 1, 2020. During the quarter beginning January 1, 2020, a Board-regulated institution that makes such an election must deduct 80 percent of the amount otherwise required to be deducted under Sec. 217.22(d)(2) and must apply a 100 percent risk weight to assets not deducted under Sec. 217.22(d)(2). In addition, during the quarter beginning January 1, 2020, a Board-regulated institution that makes such an election must include in its regulatory capital 20 percent of any minority interest that exceeds the amount of minority interest includable in regulatory capital under Sec. 217.21 as it applies to an advanced approaches Board-regulated institution. A Board-regulated institution that is not an advanced approaches Board-regulated institution must apply the treatment under Sec. Sec. 217.21 and 217.22 applicable to a Board-regulated institution that is not an advanced approaches Board-regulated institution beginning April 1, 2020, and thereafter. (h) SA-CCR. An advanced approaches Board-regulated institution may use CEM rather than SA-CCR for purposes of Sec. Sec. 217.34(a) and 217.132(c) until January 1, 2022. A Board-regulated institution must provide prior notice to the Board if it decides to begin using SA-CCR before January 1, 2022. On January 1, 2022, and thereafter, an advanced approaches Board-regulated institution must use SA-CCR for purposes of Sec. Sec. 217.34(a), 217.132(c), and 217.135(d). Once an advanced approaches Board-regulated institution has begun to use [[Page 624]] SA-CCR, the advanced approaches Board-regulated institution may not change to use CEM. (i) Default fund contributions. Prior to January 1, 2022, a Board- regulated institution that calculates the exposure amounts of its derivative contracts under the standardized approach for counterparty credit risk in Sec. 217.132(c) may calculate the risk-weighted asset amount for a default fund contribution to a QCCP under either method 1 under Sec. 217.35(d)(3)(i) or method 2 under Sec. 217.35(d)(3)(ii), rather than under Sec. 217.133(d). [Reg. Q, 78 FR 62157, 62285, Oct. 11, 2013, as amended at 78 FR 62290, Oct. 11, 2013; 80 FR 70672, Nov. 16, 2015; 80 FR 49103, Aug. 14, 2015; 82 FR 55316, Nov. 21, 2017; 83 FR 705, Jan. 8, 2018; 84 FR 35269, July 22, 2019; 84 FR 61807, Nov. 13, 2019; 85 FR 4429, Jan. 24, 2020] Sec. 217.301 Current expected credit losses (CECL) transition. (a) CECL transition provision. (1) Except as provided in paragraph (d) of this section, a Board-regulated institution may elect to use a CECL transition provision pursuant to this section only if the Board- regulated institution records a reduction in retained earnings due to the adoption of CECL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL. (2) Except as provided in paragraph (d) of this section, a Board- regulated institution that elects to use the CECL transition provision must elect to use the CECL transition provision in the first Call Report or FR Y-9C that includes CECL filed by the Board-regulated institution after it adopts CECL. (3) A Board-regulated institution that does not elect to use the CECL transition provision as of the first Call Report or FR Y-9C that includes CECL filed as described in paragraph (a)(2) of this section may not elect to use the CECL transition provision in subsequent reporting periods. (b) Definitions. For purposes of this section, the following definitions apply: (1) Transition period means the three-year period beginning the first day of the fiscal year in which a Board-regulated institution adopts CECL and reflects CECL in its first Call Report or FR Y-9C filed after that date; or, for the 2020 CECL transition provision under paragraph (d) of this section, the five-year period beginning on the earlier of the date a Board-regulated institution was required to adopt CECL for accounting purposes under GAAP (as in effect January 1, 2020), or the first day of the fiscal year that begins during the 2020 calendar year in which the Board-regulated institution files regulatory reports that include CECL. (2) CECL transitional amount means the difference net of any DTAs, in the amount of a Board-regulated institution's retained earnings as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL from the amount of the Board-regulated institution's retained earnings as of the closing of the fiscal year-end immediately prior to the Board-regulated institution's adoption of CECL. (3) DTA transitional amount means the difference in the amount of a Board-regulated institution's DTAs arising from temporary differences as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL from the amount of the Board-regulated institution's DTAs arising from temporary differences as of the closing of the fiscal year-end immediately prior to the Board-regulated institution's adoption of CECL. (4) AACL transitional amount means the difference in the amount of a Board-regulated institution's AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL and the amount of the Board-regulated institution's ALLL as of the closing of the fiscal year-end immediately prior to the Board-regulated institution's adoption of CECL. (5) Eligible credit reserves transitional amount means the difference in the amount of a Board-regulated institution's eligible credit reserves as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL from the amount of the Board- regulated institution's eligible credit reserves as of the closing of the fiscal year-end immediately prior to the Board-regulated institution's adoption of CECL. [[Page 625]] (c) Calculation of the three-year CECL transition provision. (1) For purposes of the election described in paragraph (a)(1) of this section and except as provided in paragraph (d) of this section, a Board- regulated institution must make the following adjustments in its calculation of regulatory capital ratios: (i) Increase retained earnings by seventy-five percent of its CECL transitional amount during the first year of the transition period, increase retained earnings by fifty percent of its CECL transitional amount during the second year of the transition period, and increase retained earnings by twenty-five percent of its CECL transitional amount during the third year of the transition period; (ii) Decrease amounts of DTAs arising from temporary differences by seventy-five percent of its DTA transitional amount during the first year of the transition period, decrease amounts of DTAs arising from temporary differences by fifty percent of its DTA transitional amount during the second year of the transition period, and decrease amounts of DTAs arising from temporary differences by twenty-five percent of its DTA transitional amount during the third year of the transition period; (iii) Decrease amounts of AACL by seventy-five percent of its AACL transitional amount during the first year of the transition period, decrease amounts of AACL by fifty percent of its AACL transitional amount during the second year of the transition period, and decrease amounts of AACL by twenty-five percent of its AACL transitional amount during the third year of the transition period; and (iv) Increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by seventy- five percent of its CECL transitional amount during the first year of the transition period, increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by fifty percent of its CECL transitional amount during the second year of the transition period, and increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by twenty-five percent of its CECL transitional amount during the third year of the transition period. (2) For purposes of the election described in paragraph (a)(1) of this section, an advanced approaches or Category III Board-regulated institution must make the following additional adjustments to its calculation of its applicable regulatory capital ratios: (i) Increase total leverage exposure for purposes of the supplementary leverage ratio by seventy-five percent of its CECL transitional amount during the first year of the transition period, increase total leverage exposure for purposes of the supplementary leverage ratio by fifty percent of its CECL transitional amount during the second year of the transition period, and increase total leverage exposure for purposes of the supplementary leverage ratio by twenty-five percent of its CECL transitional amount during the third year of the transition period; and (ii) An advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to Sec. 217.121(d) must decrease amounts of eligible credit reserves by seventy-five percent of its eligible credit reserves transitional amount during the first year of the transition period, decrease amounts of eligible credit reserves by fifty percent of its eligible credit reserves transitional amount during the second year of the transition provision, and decrease amounts of eligible credit reserves by twenty-five percent of its eligible credit reserves transitional amount during the third year of the transition period. (d) 2020 CECL transition provision. Notwithstanding paragraph (a) of this section, a Board-regulated institution that adopts CECL for accounting purposes under GAAP as of the first day of a fiscal year that begins during the 2020 calendar year may elect to use the transitional amounts and modified transitional amounts in paragraph (d)(1) of this section with the 2020 CECL transition provision calculation in paragraph (d)(2) of this section to adjust its calculation of regulatory capital ratios during each quarter of the transition period in which a Board- [[Page 626]] regulated institution uses CECL for purposes of its Call Report or FR Y- 9C. A Board-regulated institution may use the transition provision in this paragraph (d) if it has a positive modified CECL transitional amount during any quarter ending in 2020, and makes the election in the Call Report or FR Y-9C filed for the same quarter. A Board-regulated institution that does not calculate a positive modified CECL transitional amount in any quarter is not required to apply the adjustments in its calculation of regulatory capital ratios in paragraph (d)(2) of this section in that quarter. (1) Definitions. For purposes of the 2020 CECL transition provision calculation in paragraph (d)(2) of this section, the following definitions apply: (i) Modified CECL transitional amount means: (A) During the first two years of the transition period, the difference between AACL as reported in the most recent Call Report or FR Y-9C, and the AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL, multiplied by 0.25, plus the CECL transitional amount; and (B) During the last three years of the transition period, the difference between AACL as reported in the Call Report or Y-9C at the end of the second year of the transition period and the AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL, multiplied by 0.25, plus the CECL transitional amount. (ii) Modified AACL transitional amount means: (A) During the first two years of the transition period, the difference between AACL as reported in the most recent Call Report or FR Y-9C, and the AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL, multiplied by 0.25, plus the AACL transitional amount; and (B) During the last three years of the transition period, the difference between AACL as reported in the Call Report or FR Y-9C at the end of the second year of the transition period and the AACL as of the beginning of the fiscal year in which the Board-regulated institution adopts CECL, multiplied by 0.25, plus the AACL transitional amount. (2) Calculation of 2020 CECL transition provision. (i) A Board- regulated institution that has elected the 2020 CECL transition provision described in this paragraph (d) may make the following adjustments in its calculation of regulatory capital ratios: (A) Increase retained earnings by one-hundred percent of its modified CECL transitional amount during the first year of the transition period, increase retained earnings by one hundred percent of its modified CECL transitional amount during the second year of the transition period, increase retained earnings by seventy-five percent of its modified CECL transitional amount during the third year of the transition period, increase retained earnings by fifty percent of its modified CECL transitional amount during the fourth year of the transition period, and increase retained earnings by twenty-five percent of its modified CECL transitional amount during the fifth year of the transition period; (B) Decrease amounts of DTAs arising from temporary differences by one-hundred percent of its DTA transitional amount during the first year of the transition period, decrease amounts of DTAs arising from temporary differences by one hundred percent of its DTA transitional amount during the second year of the transition period, decrease amounts of DTAs arising from temporary differences by seventy-five percent of its DTA transitional amount during the third year of the transition period, decrease amounts of DTAs arising from temporary differences by fifty percent of its DTA transitional amount during the fourth year of the transition period, and decrease amounts of DTAs arising from temporary differences by twenty-five percent of its DTA transitional amount during the fifth year of the transition period; (C) Decrease amounts of AACL by one-hundred percent of its modified AACL transitional amount during the first year of the transition period, decrease amounts of AACL by one hundred percent of its modified AACL transitional amount during the second [[Page 627]] year of the transition period, decrease amounts of AACL by seventy-five percent of its modified AACL transitional amount during the third year of the transition period, decrease amounts of AACL by fifty percent of its AACL transitional amount during the fourth year of the transition period, and decrease amounts of AACL by twenty-five percent of its AACL transitional amount during the fifth year of the transition period; and (D) Increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by one-hundred percent of its modified CECL transitional amount during the first year of the transition period, increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by one hundred percent of its modified CECL transitional amount during the second year of the transition period, increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by seventy-five percent of its modified CECL transitional amount during the third year of the transition period, increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by fifty percent of its modified CECL transitional amount during the fourth year of the transition period, and increase average total consolidated assets as reported on the Call Report or FR Y-9C for purposes of the leverage ratio by twenty-five percent of its modified CECL transitional amount during the fifth year of the transition period. (ii) An advanced approaches or Category III Board-regulated institution that has elected the 2020 CECL transition provision described in this paragraph (d) may make the following additional adjustments to its calculation of its applicable regulatory capital ratios: (A) Increase total leverage exposure for purposes of the supplementary leverage ratio by one-hundred percent of its modified CECL transitional amount during the first year of the transition period, increase total leverage exposure for purposes of the supplementary leverage ratio by one hundred percent of its modified CECL transitional amount during the second year of the transition period, increase total leverage exposure for purposes of the supplementary leverage ratio by seventy-five percent of its modified CECL transitional amount during the third year of the transition period, increase total leverage exposure for purposes of the supplementary leverage ratio by fifty percent of its modified CECL transitional amount during the fourth year of the transition period, and increase total leverage exposure for purposes of the supplementary leverage ratio by twenty-five percent of its modified CECL transitional amount during the fifth year of the transition period; and (B) An advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to Sec. 217.121(d) must decrease amounts of eligible credit reserves by one-hundred percent of its eligible credit reserves transitional amount during the first year of the transition period, decrease amounts of eligible credit reserves by one hundred percent of its eligible credit reserves transitional amount during the second year of the transition period, decrease amounts of eligible credit reserves by seventy-five percent of its eligible credit reserves transitional amount during the third year of the transition period, decrease amounts of eligible credit reserves by fifty percent of its eligible credit reserves transitional amount during the fourth year of the transition period, and decrease amounts of eligible credit reserves by twenty-five percent of its eligible credit reserves transitional amount during the fifth year of the transition period. (e) Eligible credit reserves shortfall. An advanced approaches Board-regulated institution that has completed the parallel run process and that has received notification from the Board pursuant to Sec. 217.121(d), whose amount of expected credit loss exceeded its eligible credit reserves immediately prior to the adoption of CECL, and that has an increase in common equity tier 1 capital as of the beginning of the fiscal year in which it adopts CECL after including the first year portion of the CECL transitional amount (or modified [[Page 628]] CECL transitional amount) must decrease its CECL transitional amount used in paragraph (c) of this section (or modified CECL transitional amount used in paragraph (d) of this section) by the full amount of its DTA transitional amount. (f) Business combinations. Notwithstanding any other requirement in this section, for purposes of this paragraph (f), in the event of a business combination involving a Board-regulated institution where one or both Board-regulated institutions have elected the treatment described in this section: (1) If the acquirer Board-regulated institution (as determined under GAAP) elected the treatment described in this section, the acquirer Board-regulated institution must continue to use the transitional amounts (unaffected by the business combination) that it calculated as of the date that it adopted CECL through the end of its transition period. (2) If the acquired company (as determined under GAAP) elected the treatment described in this section, any transitional amount of the acquired company does not transfer to the resulting Board-regulated institution. [Reg. Q, 85 FR 61589, Sept. 30, 2020] Sec. 217.302 Exposures Related the Money Market Mutual Fund Liquidity Facility. Notwithstanding any other section of this part, a Board-regulated institution may exclude exposures acquired pursuant to a non-recourse loan that is provided as part of the Money Market Mutual Fund Liquidity Facility, announced by the Board on March 18, 2020, from total leverage exposure, average total consolidated assets, advanced approaches total risk-weighted assets, and standardized total risk-weighted assets, as applicable. For the purpose of this provision, a board-regulated institution's liability under the facility must be reduced by the purchase price of the assets acquired with funds advanced from the facility. [Reg. Q, 85 FR 16236, Mar. 23, 2020] Sec. 217.303 Temporary exclusions from total leverage exposure. (a) In general. Subject to paragraphs (b) through (g) of this section and notwithstanding any other requirement in this part, when calculating on-balance sheet assets as of each day of a reporting quarter for purposes of determining the Board-regulated institution's total leverage exposure under Sec. 217.10(c), a Board-regulated institution that is a depository institution holding company or a U.S. intermediate holding company must, and a Board-regulated institution that is a state member bank may, exclude the balance sheet carrying value of the following items: (1) U.S. Treasury securities; and (2) Funds on deposit at a Federal Reserve Bank. (b) Opt-in period. Before applying the relief provided in paragraph (a) of this section, a state member bank must first notify the Board before July 1, 2020. (c) Calculation of relief. When calculating on-balance sheet assets as of each day of a reporting quarter, the relief provided in paragraph (a) of this section applies from the beginning of the reporting quarter in which the state member bank filed an opt-in notice through the termination date specified in paragraph (d) of this section. (d) Termination of exclusions. This section shall cease to be effective after the reporting period that ends March 31, 2021. (e) Custodial banking organizations. A custodial banking organization must reduce the amount in Sec. 217.10(c)(2)(x)(A) (to no less than zero) by any amount excluded under paragraph (a)(2) of this section. (f) Disclosure. Notwithstanding Table 13 to Sec. 217.173, a Board- regulated institution that is required to make the disclosures pursuant to Sec. 217.173 must exclude the items excluded pursuant to paragraph (a) of this section from Table 13 to Sec. 217.173. (g) Board approval for distributions. During the calendar quarter beginning on July 1, 2020, and until March 31, 2021, no state member bank that has opted in to the relief provided under paragraph (a) of this section may make a distribution, or create an obligation to make such a distribution, without [[Page 629]] prior Board approval. When reviewing a request under this paragraph (g), the Board will consider all relevant factors, including whether the distribution would be contrary to the safety and soundness of the state member bank; the nature, purpose, and extent of the request; and the particular circumstances giving rise to the request. [Reg. Q, 85 FR 32989, June 1, 2020, as amended at 86 FR 738, Jan. 6, 2021] Sec. 217.304 Temporary changes to the community bank leverage ratio framework. (a)(1) A Board-regulated institution that is not an advanced approaches Board-regulated institution and that meets all the criteria to be a qualifying community banking organization under Sec. 217.12(a)(2) but for Sec. 217.12(a)(2)(i) is a qualifying community banking organization if it has a leverage ratio equal to or greater than 8 percent. (2) Notwithstanding Sec. 217.12(a)(1), a qualifying community banking organization that has made an election to use the community bank leverage ratio framework under Sec. 217.12(a)(3) shall be considered to have met the minimum capital requirements under Sec. 217.10, the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1) of this chapter, if applicable, and any other capital or leverage requirements to which the qualifying community banking organization is subject, if it has a leverage ratio equal to or greater than 8 percent. (b) Notwithstanding Sec. 217.12(c)(6) and subject to Sec. 217.12(c)(5), a Board-regulated institution that has a leverage ratio of 7 percent or greater has the grace period described in Sec. 217.12(c)(1) through (4). A Board-regulated institution that has a leverage ratio of less than 7 percent does not have a grace period and must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it reports a leverage ratio of less than 7 percent. (c) Pursuant to section 4012 of the Coronavirus Aid, Relief, and Economic Security Act, the requirements provided under paragraphs (a) and (b) of this section are effective during the period beginning on April 23, 2020 and ending on the sooner of: (1) The termination date of the national emergency concerning the novel coronavirus disease outbreak declared by the President on March 13, 2020, under the National Emergencies Act (50 U.S.C. 1601 et seq.); or (2) December 31, 2020. (d) Upon the termination of the requirements in paragraphs (a) and (b) of this section as provided in paragraph (c) of this section, a Board-regulated institution is subject to the following: (1) Through December 31, 2020: (i) A Board-regulated institution that is not an advanced approaches Board-regulated institution and that meets all the criteria to be a qualifying community banking organization under Sec. 217.12(a)(2) but for Sec. 217.12(a)(2)(i) is a qualifying banking organization if it has a leverage ratio greater than 8 percent. (ii) Notwithstanding Sec. 217.12(a)(1), a qualifying community banking organization that has made an election to use the community bank leverage ratio framework under Sec. 217.12(a)(3) shall be considered to have met the minimum capital requirements under Sec. 217.10, the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1) of this chapter, if applicable, and any other capital or leverage requirements to which the qualifying community banking organization is subject, if it has a leverage ratio greater than 8 percent. (iii) Notwithstanding Sec. 217.12(c)(6) and subject to Sec. 217.12(c)(5), a Board-regulated institution that has a leverage ratio of greater than 7 percent has the grace period described in Sec. 217.12(c)(1) through (4). A Board-regulated institution that has a leverage ratio of 7 percent or less does not have a grace period and must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it reports a leverage ratio of 7 percent or less. (2) From January 1, 2021, through December 31, 2021: (i) A Board-regulated institution that is not an advanced approaches Board- [[Page 630]] regulated institution and that meets all the criteria to be a qualifying community banking organization under Sec. 217.12(a)(2) but for Sec. 217.12(a)(2)(i) is a qualifying banking organization if it has a leverage ratio greater than 8.5 percent. (ii) Notwithstanding Sec. 217.12(a)(1), a qualifying community banking organization that has made an election to use the community bank leverage ratio framework under Sec. 217.12(a)(3) shall be considered to have met the minimum capital requirements under Sec. 217.10, the capital ratio requirements for the well capitalized capital category under Sec. 208.43(b)(1) of this chapter, if applicable, and any other capital or leverage requirements to which the qualifying community banking organization is subject, if it has a leverage ratio greater than 8.5 percent. (iii) Notwithstanding Sec. 217.12(c)(6) and subject to Sec. 217.12(c)(5), a Board-regulated institution that has a leverage ratio of greater than 7.5 percent has the grace period described in Sec. 217.12(c)(1) through (4). A Board-regulated institution that has a leverage ratio of 7.5 percent or less does not have a grace period and must comply with the minimum capital requirements under Sec. 217.10(a)(1) and must report the required capital measures under Sec. 217.10(a)(1) for the quarter in which it reports a leverage ratio of 7.5 percent or less. [Reg. Q, 85 FR 22929, Apr. 23, 2020, as amended at 85 FR 22938, Apr. 23, 2020] Sec. 217.305 Exposures related to the Paycheck Protection Program Lending Facility. Notwithstanding any other section of this part, a Board-regulated institution may exclude exposures pledged as collateral for a non- recourse loan that is provided as part of the Paycheck Protection Program Lending Facility, announced by the Board on April 7, 2020, from total leverage exposure, average total consolidated assets, advanced approaches total risk-weighted assets, and standardized total risk- weighted assets, as applicable. For the purpose of this section, a Board-regulated institution's liability under the facility must be reduced by the principal amount of the loans pledged as collateral for funds advanced under the facility. [Reg. Q, 85 FR 20393, Apr. 13, 2020] Sec. 217.306 Building Block Approach (BBA) capital conservation buffer transition. (a) Notwithstanding any provision of this part and subject to paragraph (b) of this section, an insurance bank holding company, or insurance savings and loan holding company, that, on January 1, 2023, was not subject to this part is not subject to any restrictions on distributions or discretionary bonus payments under Sec. Sec. 217.11 and 217.604. (b) This section ceases to be effective after March 31, 2026. [Reg. Q, 88 FR 82969, Nov. 27, 2023] Subpart H_Risk-based Capital Surcharge for Global Systemically Important Bank Holding Companies Authority: 12 U.S.C. 5365. Source: Reg. Q, 80 FR 49105, Aug. 14, 2015, unless otherwise noted. Sec. 217.400 Purpose and applicability. (a) Purpose. This subpart implements provisions of section 165 of the Dodd-Frank Act (12 U.S.C. 5365), by establishing a risk-based capital surcharge for global systemically important bank holding companies. (b) Applicability--(1) General. This subpart applies to a bank holding company that: (i) Is an advanced approaches Board-regulated institution or a Category III Board-regulated institution; (ii) Is not a consolidated subsidiary of a bank holding company; and (iii) Is not a consolidated subsidiary of a foreign banking organization. (2) Effective date of calculation and surcharge requirements. (i) A bank holding company identified in Sec. 217.400(b)(1) is subject to Sec. 217.402 of this part and must determine whether it qualifies as a global systemically important BHC by December 31 of the year immediately following the year in which the [[Page 631]] bank holding company becomes an advanced approaches Board-regulated institution or a Category III Board-regulated institution; and (ii) A bank holding company that becomes a global systemically important BHC pursuant to Sec. 217.402 must calculate its GSIB surcharge pursuant to Sec. 217.403 by December 31 of the year in which the bank holding company is identified as a global systemically important BHC and must use that GSIB surcharge for purposes of determining its maximum payout ratio under Table 1 to Sec. 217.11 beginning on January 1 of the year that is immediately following the full calendar year after it is identified as a global systemically important BHC. (c) Reservation of authority. (1) The Board may apply this subpart to any Board-regulated institution, in whole or in part, by order of the Board based on the institution's capital structure, size, level of complexity, risk profile, scope of operations, or financial condition. (2) The Board may adjust the amount of the GSIB surcharge applicable to a global systemically important BHC, or extend or accelerate any compliance date of this subpart, if the Board determines that the adjustment, extension, or acceleration is appropriate in light of the capital structure, size, complexity, risk profile, and scope of operations of the global systemically important BHC. In increasing the size of the GSIB surcharge for a global systemically important BHC, the Board shall follow the notice and response procedures in 12 CFR part 263, subpart E. [Reg. Q, 80 FR 49105, Aug. 14, 2015, as amended at 84 FR 59075, Nov. 1, 2019] Sec. 217.401 Definitions. As used in this subpart: (a) Aggregate global indicator amount means, for each systemic indicator, the aggregate measure of that indicator, which is equal to the most recent annual dollar figure published by the Board that represents the sum of systemic indicator values of: (1) The 75 largest global banking organizations, as measured by the Basel Committee on Banking Supervision; and (2) Any other banking organization that the Basel Committee on Banking Supervision includes in its sample total for that year. (b) Assets under custody means assets held as a custodian on behalf of customers, as reported by the bank holding company on the FR Y-15. (c) Average risk-weighted assets means the four-quarter average of the measure of total risk-weighted assets associated with the lower of the bank holding company's common equity tier 1 risk-based capital ratios, as reported on the bank holding company's FR Y-9C for each quarter of the previous calendar year. (d) Brokered deposit has the meaning set forth in 12 CFR 249.3. (e) Consolidated subsidiary has the meaning set forth in 12 CFR 249.3. (f) Covered asset exchange means a transaction in which a bank holding company has provided assets of a given liquidity category to a counterparty in exchange for assets of a higher liquidity category, and the bank holding company and the counterparty agreed to return such assets to each other at a future date. Categories of assets, in descending order of liquidity, are level 1 liquid assets, level 2A liquid assets, level 2B liquid assets, and assets that are not HQLA. Covered asset exchanges do not include secured funding transactions. (g) Financial sector entity has the meaning set forth in 12 CFR 249.3. (h) GAAP means generally accepted accounting principles as used in the United States. (i) High-quality liquid asset (HQLA) has the meaning set forth in 12 CFR 249.3. (j) Cross-jurisdictional claims means foreign claims on an ultimate risk basis, as reported by the bank holding company on the FR Y-15. (k) Cross-jurisdictional liabilities means total cross- jurisdictional liabilities, as reported by the bank holding company on the FR Y-15. (l) Intra-financial system assets means total intra-financial system assets, as reported by the bank holding company on the FR Y-15. [[Page 632]] (m) Intra-financial system liabilities means total intra-financial system liabilities, as reported by the bank holding company on the FR Y- 15. (n) Level 1 liquid asset is an asset that qualifies as a level 1 liquid asset pursuant to 12 CFR 249.20(a). (o) Level 2A liquid asset is an asset that qualifies as a level 2A liquid asset pursuant to 12 CFR 249.20(b). (p) Level 2B liquid asset is an asset that qualifies as a level 2B liquid asset pursuant to 12 CFR 249.20(c). (q) Level 3 assets means assets valued using Level 3 measurement inputs, as reported by the bank holding company on the FR Y-15. (r) Notional amount of over-the-counter (OTC) derivatives means the total notional amount of OTC derivatives, as reported by the bank holding company on the FR Y-15. (s) Operational deposit has the meaning set forth in 12 CFR 249.3. (t) Payments activity means payments activity, as reported by the bank holding company on the FR Y-15. (u) Retail customer or counterparty has the meaning set forth in 12 CFR 249.3. (v) Secured funding transaction has the meaning set forth in 12 CFR 249.3. (w) Securities outstanding means total securities outstanding, as reported by the bank holding company on the FR Y-15. (x) Short position means a transaction in which a bank holding company has borrowed or otherwise obtained a security from a counterparty and sold that security, and the bank holding company must return the security to the initial counterparty in the future. (y) Systemic indicator includes the following indicators included on the FR Y-15: (1) Total exposures; (2) Intra-financial system assets; (3) Intra-financial system liabilities; (4) Securities outstanding; (5) Payments activity; (6) Assets under custody; (7) Underwritten transactions in debt and equity markets; (8) Notional amount of over-the-counter (OTC) derivatives; (9) Trading and available-for-sale (AFS) securities; (10) Level 3 assets; (11) Cross-jurisdictional claims; or (12) Cross-jurisdictional liabilities. (z) Total exposures means total exposures as reported by the bank holding company on the FR Y-15. (aa) Trading and AFS securities means total adjusted trading and available-for-sale securities as reported by the bank holding company on the FR Y-15. (bb) Underwritten transactions in debt and equity markets means total underwriting activity as reported by the bank holding company on the FR Y-15. (cc) Unsecured wholesale funding has the meaning set forth in 12 CFR 249.3. (dd) Wholesale customer or counterparty has the meaning set forth in 12 CFR 249.3. Sec. 217.402 Identification as a global systemically important BHC. A bank holding company is a global systemically important BHC if its method 1 score, as calculated under Sec. 217.404, equals or exceeds 130 basis points. Subject to Sec. 217.400(b)(2), a bank holding company must calculate its method 1 score on an annual basis by December 31 of each year. Sec. 217.403 GSIB surcharge. (a) General. Subject to Sec. 217.400(b)(2), a company identified as a global systemically important BHC pursuant to Sec. 217.402 must calculate its GSIB surcharge on an annual basis by December 31 of each year. For any given year, subject to paragraph (d) of this section, the GSIB surcharge is equal to the greater of: (1) The method 1 surcharge calculated in accordance with paragraph (b) of this section; and (2) The method 2 surcharge calculated in accordance with paragraph (c) of this section. (b) Method 1 surcharge--(1) General. The method 1 surcharge of a global systemically important BHC is the amount set forth in Table 1 of this section that corresponds to the global systemically important BHC's method 1 score, calculated pursuant to Sec. 217.404. Table 1 to Sec. 217.403--Method 1 Surcharge ------------------------------------------------------------------------ Method 1 score Method 1 surcharge ------------------------------------------------------------------------ Below 130................................. 0.0 percent. 130--229.................................. 1.0 percent. 230--329.................................. 1.5 percent. 330--429.................................. 2.0 percent. [[Page 633]] 430--529.................................. 2.5 percent. 530--629.................................. 3.5 percent. ------------------------------------------------------------------------ (2) Higher method 1 surcharges. To the extent that the method 1 score of a global systemically important BHC equals or exceeds 630 basis points, the method 1 surcharge equals the sum of: (i) 4.5 percent; and (ii) An additional 1.0 percent for each 100 basis points that the global systemically important BHC's score exceeds 630 basis points. (c) Method 2 surcharge--(1) General. The method 2 surcharge of a global systemically important BHC is the amount set forth in Table 2 of this section that corresponds to the global systemically important BHC's method 2 score, calculated pursuant to Sec. 217.405. Table 2 to Sec. 217.403: Method 2 Surcharge ------------------------------------------------------------------------ Method 2 score Method 2 surcharge ------------------------------------------------------------------------ Below 130................................. 0.0 percent. 130--229.................................. 1.0 percent. 230--329.................................. 1.5 percent. 330--429.................................. 2.0 percent. 430--529.................................. 2.5 percent. 530--629.................................. 3.0 percent. 630--729.................................. 3.5 percent. 730--829.................................. 4.0 percent. 830--929.................................. 4.5 percent. 930--1029................................. 5.0 percent. 1030--1129................................ 5.5 percent. ------------------------------------------------------------------------ (2) Higher method 2 surcharges. To the extent that the method 2 score of a global systemically important BHC equals or exceeds 1130 basis points, the method 2 surcharge equals the sum of: (i) 6.5 percent; and (ii) An additional 0.5 percent for each 100 basis points that the global systemically important BHC's score exceeds 1130 basis points. (d) Effective date of an adjusted GSIB surcharge--(1) Increase in GSIB surcharge. An increase in the GSIB surcharge of a global systemically important BHC will take effect (i.e., be incorporated into the maximum payout ratio under Table 1 to Sec. 217.11) on January 1 of the year that is one full calendar year after the increased GSIB surcharge was calculated. (2) Decrease in GSIB surcharge. A decrease in the GSIB surcharge of a global systemically important BHC will take effect (i.e., be incorporated into the maximum payout ratio under Table 1 to Sec. 217.11) on January 1 of the year immediately following the calendar year in which the decreased GSIB surcharge was calculated. Sec. 217.404 Method 1 score. (a) General. A bank holding company's method 1 score is the sum of its systemic indicator scores for the twelve systemic indicators set forth Table 1 of this section, as determined under paragraph (b) of this section. (b) Systemic indicator score. (1) Except as provided in paragraph (b)(2) of this section, the systemic indicator score in basis points for a given systemic indicator is equal to: (i) The ratio of: (A) The amount of that systemic indicator, as reported by the bank holding company as of December 31 of the previous calendar year; to (B) The aggregate global indicator amount for that systemic indicator published by the Board in the fourth quarter of that year; (ii) Multiplied by 10,000; and (iii) Multiplied by the indicator weight corresponding to the systemic indicator as set forth in Table 1 of this section. (2) Maximum substitutability score. The sum of the systemic indicator scores for the indicators in the substitutability category (assets under custody, payments systems activity, and underwriting activity) will not exceed 100 basis points. Table 1 to Sec. 217.404--Systemic Indicator Weights ------------------------------------------------------------------------ Category Systemic indicator Indicator weight ------------------------------------------------------------------------ Size.......................... Total exposures....... 20 percent. Interconnectedness............ Intra-financial system 6.67 percent. assets. Intra-financial system 6.67 percent. liabilities. Securities outstanding 6.67 percent. Substitutability.............. Payments activity..... 6.67 percent. Assets under custody.. 6.67 percent. [[Page 634]] Underwritten 6.67 percent. transactions in debt and equity markets. Complexity.................... Notional amount of 6.67 percent. over-the-counter (OTC) derivatives. Trading and available- 6.67 percent. for-sale (AFS) securities. Level 3 assets........ 6.67 percent. Cross-jurisdictional activity. Cross-jurisdictional 10 percent. claims. Cross-jurisdictional 10 percent. liabilities. ------------------------------------------------------------------------ [Reg. Q, 80 FR 49105, Aug. 14, 2015, as amended at 81 FR 90954, Dec. 16, 2016] Sec. 217.405 Method 2 score. (a) General. A global systemically important BHC's method 2 score is equal to: (1) The sum of: (i) The global systemically important BHC's systemic indicator scores for the nine systemic indicators set forth Table 1 of this section, as determined under paragraph (b) of this section; and (ii) The global systemically important BHC's short-term wholesale funding score, calculated pursuant to Sec. 217.406. (b) Systemic indicator score. A global systemically important BHC's score for a systemic indicator is equal to: (1) The amount of the systemic indicator, as reported by the bank holding company as of December 31 of the previous calendar year, expressed in billions of dollars; (2) Multiplied by the coefficient corresponding to the systemic indicator set forth in Table 1 of this section. Table 1 to Sec. 217.405--Coefficients for Systemic Indicators ---------------------------------------------------------------------------------------------------------------- Coefficient value Category Systemic indicator (%) ---------------------------------------------------------------------------------------------------------------- Size............................................ Total exposures............................ 4.423 Interconnectedness.............................. Intra-financial system assets.............. 12.007 Intra-financial system liabilities......... 12.490 Securities outstanding..................... 9.056 Complexity...................................... Notional amount of over-the-counter (OTC) 0.155 derivatives. Trading and available-for-sale (AFS) 30.169 securities. Level 3 assets............................. 161.177 Cross-jurisdictional activity................... Cross-jurisdictional claims................ 9.277 Cross-jurisdictional liabilities........... 9.926 ---------------------------------------------------------------------------------------------------------------- [Reg. Q, 80 FR 49105, Aug. 14, 2015, as amended at 81 FR 90954, Dec. 16, 2016] Sec. 217.406 Short-term wholesale funding score. (a) General. Except as provided in Sec. 217.400(b)(3)(ii), a global systemically important BHC's short-term wholesale funding score is equal to: (1) The average of the global systemically important BHC's weighted short-term wholesale funding amount (defined in paragraph (b) of this section); (2) Divided by the global systemically important BHC's average risk- weighted assets; and (3) Multiplied by a fixed factor of 350. (b) Weighted short-term wholesale funding amount. (1) To calculate its weighted short-term wholesale funding amount, a global systemically important BHC must calculate the amount of its short-term wholesale funding on a consolidated basis for each business day of the previous calendar year and weight the components of short-term wholesale funding in accordance with Table 1 of this section. (2) Short-term wholesale funding includes the following components, each as defined in paragraph (c) of this section: (i) All funds that the bank holding company must pay under each secured funding transaction, other than an operational deposit, with a remaining maturity of 1 year or less; (ii) All funds that the bank holding company must pay under all unsecured [[Page 635]] wholesale funding, other than an operational deposit, with a remaining maturity of 1 year or less; (iii) The fair value of an asset as determined under GAAP that a bank holding company must return under a covered asset exchange with a remaining maturity of 1 year or less; (iv) The fair value of an asset as determined under GAAP that the bank holding company must return under a short position to the extent that the borrowed asset does not qualify as a Level 1 liquid asset or a Level 2A liquid asset; and (v) All brokered deposits held at the bank holding company provided by a retail customer or counterparty. (3) For purposes of calculating the short-term wholesale funding amount and the components thereof, a bank holding company must assume that each asset or transaction described in paragraph (b)(2) of this section matures in accordance with the criteria set forth in 12 CFR 249.31. Table 1 to Sec. 217.406--Short-Term Wholesale Funding Components and Weights ---------------------------------------------------------------------------------------------------------------- Remaining maturity Component of short-term of 30 days of less Remaining maturity Remaining maturity Remaining maturity wholesale funding or no maturity of 31 to 90 days of 91 to 180 days of 181 to 365 days ---------------------------------------------------------------------------------------------------------------- Category 1...................... 25 percent........ 10 percent........ 0 percent......... 0 percent. (1) Secured funding transaction secured by a level 1 liquid asset; (2) Unsecured wholesale funding where the customer or counterparty is not a financial sector entity or a consolidated subsidiary thereof; (3) Brokered deposits provided by a retail customer or counterparty; and (4) Short positions where the borrowed asset does not qualify as either a level 1 liquid asset or level 2A liquid asset. Category 2...................... 50 percent........ 25 percent........ 10 percent........ 0 percent. (1) Secured funding transaction secured by a level 2A liquid asset; and (2) Covered asset exchanges involving the future exchange of a Level 1 liquid asset for a Level 2A liquid asset. Category 3...................... 75 percent........ 50 percent........ 25 percent........ 10 percent. (1) Secured funding transaction secured by a level 2B liquid asset; (2) Covered asset exchanges (other than those described in Category 2); and (3) Unsecured wholesale funding (other than unsecured wholesale funding described in Category 1). Category 4...................... 100 percent....... 75 percent........ 50 percent........ 25 percent. Any other component of short- term wholesale funding. ---------------------------------------------------------------------------------------------------------------- Subpart I_Application of Capital Rules Source: 80 FR 76377, Dec. 9, 2015, unless otherwise noted. Sec. 217.501 The Board's Regulatory Capital Framework for Depository Institution Holding Companies Organized as Non-Stock Companies. (a) Applicability. (1) This section applies to all depository institution holding companies that are organized as legal entities other than stock corporations and that are subject to this part (Regulation Q, 12 CFR part 217).\1\ --------------------------------------------------------------------------- \1\ See 12 CFR 217.1(c)(1) through (3). --------------------------------------------------------------------------- (2) Notwithstanding Sec. Sec. 217.2 and 217.10, a bank holding company or covered savings and loan holding company that is organized as a legal entity other than a stock corporation and has issued capital instruments that do not qualify as common equity tier 1 capital under Sec. 217.20 by virtue of the requirements set forth in this section may treat those capital instruments as common equity tier 1 capital until July 1, 2016. [[Page 636]] (b) Common equity tier 1 capital criteria applied to capital instruments issued by non-stock companies. (1) Subpart C of this part provides criteria for capital instruments to qualify as common equity tier 1 capital. This section describes how certain criteria apply to capital instruments issued by bank holding companies and covered savings and loan holding companies that are organized as legal entities other than stock corporations, such as limited liability companies (LLCs) and partnerships. (2) Holding companies are organized using a variety of legal structures, including corporate forms, LLCs, partnerships, and similar structures.\2\ In the Board's experience, some depository institution holding companies that are organized in non-stock form issue multiple classes of capital instruments that allocate profit and loss from a distribution differently among classes, which may affect the ability of those classes to qualify as common equity tier 1 capital.\3\ --------------------------------------------------------------------------- \2\ A stock corporation's common stock should satisfy the CET1 criteria so long as the common stock does not have unusual features, such as a limited duration. \3\ Notably, voting powers or other means of exercising control are not relevant for purposes of satisfying the CET1 eligibility criteria. Thus, the fact that a particular partner or member controls a holding company, for instance, due to serving as general partner or managing member, is not material to qualification of particular interests as CET1. --------------------------------------------------------------------------- (3) Common equity tier 1 capital is defined in Sec. 217.20(b). To qualify as common equity tier 1 capital, capital instruments must satisfy a number of criteria. This section provides examples of the application of certain common equity tier 1 capital criteria that relate to the economic interests in the company represented by particular capital instruments. (c) Examples. The following examples show how the criteria for common equity tier 1 capital apply to particular partnership or LLC structures.\4\ --------------------------------------------------------------------------- \4\ Although the examples refer to specific types of legal entities for purposes of illustration, the substance of the Regulation Q criteria reflected in the examples applies to all types of legal entities. --------------------------------------------------------------------------- (1) LLC with one class of membership interests. (i) An LLC issues one class of membership interests that provides that all holders of the interests bear losses and receive dividends proportionate to their levels of ownership. (ii) Provided that the other criteria in Sec. 217.20(b) are met, the membership interests would qualify as common equity tier 1 capital. (2) Partnership with limited and general partners. (i) A partnership has two classes of interests: General partnership interests and limited partnership interests. The general partners and the limited partners bear losses and receive distributions allocated proportionately to their capital contributions. In addition, the general partner has unlimited liability for the debts of the partnership. (ii) Provided that the other criteria in Sec. 217.20(b) are met, the general and limited partnership interests would qualify as common equity tier 1 capital. The fact of unlimited liability of the general partner is not relevant in the context of the eligibility criteria of common equity tier 1 capital instruments, provided that the general partner and limited partners share losses equally to the extent of the assets of the partnership, and the general partner is liable after the assets of the partnership are exhausted. In this regard, the general partner's unlimited liability is similar to a guarantee provided by the general partner, rather than a feature of the general partnership interest. (3) Senior and junior classes of capital instruments. (i) An LLC issues two types of membership interests, Class A and Class B. Holders of Class A and Class B interests participate equally in operating distributions and have equal voting rights. However, in liquidation, holders of Class B interests must receive the entire amount of their contributed capital in order for any distributions to be made to holders of Class A interests. (ii) Class B interests have a preference over Class A interests in liquidation and, therefore, would not qualify as common equity tier 1 capital as the Class B interests are not the most subordinated claim (criterion (i)) and do not share losses proportionately (criterion (viii) (Sec. 217.20(b)(1)(i) and (viii), respectively). [[Page 637]] (A) If all other criteria are satisfied, Class A interests would qualify as common equity tier 1 capital. (B) Class B interests may qualify as additional tier 1 capital, or tier 2 capital, if the Class B interests meet the applicable criteria (Sec. 217.20(c) and (d)). (4) LLC with two classes of membership interests. (i) An LLC issues two types of membership interests, Class A and Class B. To the extent that the LLC makes a distribution, holders of Class A and Class B interests share proportionately in any losses and receive proportionate shares of contributed capital. To the extent that a capital distribution includes an allocation of profits, holders of Class A and Class B interests share proportionately up to the point where all holders receive a specific annual rate of return on capital contributions, and, if the distribution exceeds that point, holders of Class B interests receive double their proportional share and holders of Class A interests receive the remainder of the distribution. (ii) Class A and Class B interests would both qualify as common equity tier 1 capital, provided that under all circumstances they share losses proportionately, as measured with respect to each distribution, and that they satisfy the common equity tier 1 capital criteria. The holders of Class A and Class B interests may receive different allocations of profits with respect to a distribution, provided that the distribution is made simultaneously to all members of Class A and Class B interests. Despite the potential for disproportionate profits, Class A and Class B interests have the same level of seniority with regard to potential losses and therefore they both satisfy all the criteria in Sec. 217.20(b), including criterion (ii) (Sec. 217.20(b)(1)(ii)). (5) Alternative LLC with two classes of membership interests. (i) An LLC issues two types of membership interests, Class A and Class B. In the event that the LLC makes a distribution, holders of Class A interests bear a disproportionately low level of any losses, such that the Class B interests bear a disproportionately high level of losses at the distribution. In contrast to the example in paragraph (c)(4) of this section, the different participation rights apply to distributions in situations where losses are allocated, including losses at liquidation. (ii) Because holders of the Class A interests do not bear a proportional interest in the losses (criterion (ii) (Sec. 217.20(b)(1)(ii)), the Class A interests would not qualify as common equity tier 1 capital. (A) Companies with such structures may revise their capital structures in order to provide for a sufficiently large class of capital instruments that proportionally bear first losses in liquidation (that is, the Class B interests in this example). (B) Alternatively, companies with such structures could revise their capital structure to ensure that all classes of capital instruments that are intended to qualify as common equity tier 1 capital share equally in losses in liquidation consistent with criteria (i), (ii), (vii), and (viii) in Sec. 217.20(b)(1)(i), (ii), (vii), respectively, even if each class of capital instruments has different rights to allocations of profits, as in paragraph (c)(4) of this section. (6) Mandatory distributions. (i) A partnership agreement contains provisions that require distributions to holders of one or more classes of capital instruments on the occurrence of particular events, such as upon specific dates or following a significant sale of assets, but not including any final distributions in liquidation. (ii) Any class of capital instruments that provides holders with rights to mandatory distributions would not qualify as common equity tier 1 capital because a holding company must have full discretion at all times to refrain from paying any dividends and making any other distributions on the instrument without triggering an event of default, a requirement to make a payment-in-kind, or an imposition of any other restriction on the holding company (criterion (vi) in Sec. 217.20(b)(1)(vi)). Companies must ensure that they have a sufficient amount of capital instruments that do not have such rights and that meet the other criteria of common equity tier 1 capital, in order to meet the requirements of Regulation Q. (7) Features that Reallocate Prior Distributions. (i) An LLC issues two types of membership interests, Class A and [[Page 638]] Class B. The terms of the LLC's membership interests provide that, under certain circumstances, holders of Class A interests must return a portion of earlier distributions, which are then distributed to holders of Class B interests (sometimes called a ``clawback''). (ii) If the reallocation of prior distributions described in paragraph (c)(7)(i) of this section could result in holders of the Class B interests bearing fewer losses on an aggregate basis than Class A interests, the Class B interests would not qualify as common equity tier 1 capital. However, where the membership interests provide for disproportionate allocation of profits, such as described in the example in paragraph (c)(4) of this section, and the reallocation of prior distributions would be limited to reversing the disproportionate portions of prior distributions, both the Class A and Class B interests could qualify as common equity tier 1 capital provided that they met all the other criteria in Sec. 217.20(b). Sec. 217.502 Application of the Board's Regulatory Capital Framework to Employee Stock Ownership Plans that are Depository Institution Holding Companies and Certain Trusts that are Savings and Loan Holding Companies. (a) Employee Stock Ownership Plans. Notwithstanding Sec. 217.1(c), a bank holding company or covered savings and loan holding company that is an employee stock ownership plan is exempt from this part until the Board adopts regulations that directly relate to the application of capital regulations to employee stock ownership plans. (b) Personal or Family Trusts. Notwithstanding Sec. 217.1(c), a covered savings and loan holding company is exempt from this part if it is a personal or family trust and not a business trust until the Board adopts regulations that apply capital regulations to such a covered savings and loan holding company. Subpart J_Risk-Based Capital Requirements for Board-Regulated Institutions Significantly Engaged in Insurance Activities Source: 88 FR 82969, Nov. 27, 2023, unless otherwise noted. Sec. 217.601 Purpose, applicability, and reservations of authority. (a) Purpose. This subpart establishes a framework for assessing overall risk-based capital for Board-regulated institutions that are significantly engaged in insurance activities. The framework in this subpart is used to measure available capital resources and capital requirements across a Board-regulated institution and its subsidiaries that are subject to diverse capital frameworks, aggregate available capital resources and capital requirements and calculate a ratio that reflects the overall capital adequacy of the Board-regulated institution. (b) Applicability. This subpart applies to every Board-regulated institution that is: (1) A top-tier depository institution holding company that is an insurance underwriting company; or (2) A top-tier depository institution holding company, that, as of June 30 of the previous calendar year, held 25 percent or more of its total consolidated assets in insurance underwriting companies (other than assets associated with insurance underwriting for credit risk). For purposes of this paragraph (b)(2), the Board-regulated institution must calculate its total consolidated assets in accordance with GAAP, or if the Board-regulated institution does not calculate its total consolidated assets under GAAP for any regulatory purpose (including compliance with applicable securities laws), the company may estimate its total consolidated assets, subject to review and adjustment by the Board; or (3) Depository institution holding company in a supervised insurance organization; or (4) An institution that is otherwise made subject to this subpart by the Board. [[Page 639]] (c) Exclusion of certain depository institution holding companies. Notwithstanding paragraph (b) of this section, this subpart does not apply to a top-tier depository institution holding company that-- (1) Exclusively files financial statements in accordance with Statutory Accounting Principles (SAP); (2) Is not subject to a state insurance capital requirement; and (3) Has no subsidiary depository institution holding company that-- (i) Is subject to a capital requirement; or (ii) Does not exclusively file financial statements in accordance with SAP. (d) Reservation of authority--(1) Regulatory capital resources. (i) If the Board determines that a particular company capital element has characteristics or terms that diminish its ability to absorb losses, or otherwise present safety and soundness concerns, the Board may require the supervised insurance organization to exclude all or a portion of such element from building block available capital for a depository institution holding company in the supervised insurance organization. (ii) Notwithstanding any provision of Sec. 217.608, the Board may find that a capital resource may be included in the building block available capital of a depository institution holding company on a permanent or temporary basis consistent with the loss absorption capacity of the capital resource and in accordance with Sec. 217.608(g). (2) Required capital amounts. If the Board determines that the building block capital requirement for any depository institution holding company is not commensurate with the risks of the depository institution holding company, the Board may adjust the building block capital requirement and building block available capital for the supervised insurance organization. (3) Structural requirements. In order to achieve the appropriate application of this subpart, the Board may require a supervised insurance organization to take any of the following actions with respect to the application of this subpart, if the Board determines that such action would better reflect the risk profile of an inventory company or the supervised insurance organization: (i) Identify components under this subpart differently than as done by the supervised insurance organization. This could include a different identification of a top-tier depository institution holding company, an inventory company, a material financial entity, or a building block parent, then that made by the supervised insurance organization; or (ii) Set a building block parent's allocation share of a downstream building block parent equal to 100 percent. (4) Other reservation of authority. With respect to any treatment required under this subpart, the Board may require a different treatment, provided that such alternative treatment is commensurate with the supervised insurance organization's risk and consistent with safety and soundness. (e) Notice and response procedures. In making any determinations under paragraph (d) of this section, the Board will apply notice and response procedures in the same manner as the notice and response procedures in Sec. 263.202 of this chapter. Sec. 217.602 Definitions. (a) Terms that are set forth in Sec. 217.2 and used in this subpart have the definitions assigned thereto in Sec. 217.2. (b) For the purposes of this subpart, the following terms are defined as follows: Allocation share means the portion of a downstream building block's available capital or building block capital requirement that a building block parent must aggregate in calculating its own building block available capital or building block capital requirement, as applicable, and calculated in accordance with Sec. 217.605(d). Assignment means the process of associating an inventory company with one or more building block parents for purposes of inclusion in the building block parents' building blocks. BBA ratio is defined in Sec. 217.603. Building block means a building block parent and all downstream companies and subsidiaries assigned to the building block parent. Building block available capital has the meaning set out in Sec. 217.608. Building block capital requirement has the meaning set out in Sec. 217.607. [[Page 640]] Building block parent means the lead company of a building block whose indicated capital framework must be applied to all members of a building block for purposes of determining building block available capital and the building block capital requirement. Capital-regulated company means a company that is-- (i) A depository institution, foreign bank, or company engaged in the business of insurance in a supervised insurance organization; and (ii) Directly subject to a regulatory capital framework. Common capital framework means NAIC RBC. Company available capital means, for a company, the amount of its capital elements, net of any adjustments and deductions, as determined in accordance with the company's indicated capital framework. Company capital element means any part, item, component, balance sheet account, instrument, or other element qualifying as regulatory capital under a company's indicated capital framework prior to any adjustments and deductions under that framework. Company capital requirement means: (i) For a company whose indicated capital framework is NAIC RBC, the Authorized Control Level risk-based capital requirement as set forth in NAIC RBC; (ii) For a company whose indicated capital framework is a U.S. Federal banking capital rule, the total risk-weighted assets; and (iii) For any other company, a risk-sensitive measure of required capital used to determine the jurisdictional intervention point applicable to that company. Downstream building block parent means a building block parent that is a downstream company of another building block parent. Downstream company means a company whose company capital element is directly or indirectly owned, in whole or in part, by another company in the supervised insurance organization. Downstreamed capital means direct ownership of a downstream company's company capital element that is accretive to a downstream building block parent's building block available capital. When calculating building block available capital, the amount of the downstreamed capital is calculated as the amount, excluding any impact on taxes, of the company available capital of the building block parent of the upstream building block, if the owner were to deduct the downstreamed capital. Financial entity means: (i) A bank holding company; a savings and loan holding; a U.S. intermediate holding company established or designated for purposes of compliance with part 252 of this chapter; (ii) A depository institution as defined in section 3(c) of the Federal Deposit Insurance Act (12 U.S.C. 1813(c)); an organization that is organized under the laws of a foreign country and that engages directly in the business of banking outside the United States; a Federal credit union or state credit union; a national association, state member bank, or state nonmember bank that is not a depository institution; an institution that functions solely in a trust or fiduciary capacity; an industrial loan company, an industrial bank, or other similar institution; (iii) An entity that is state-licensed or registered as: (A) A credit or lending entity, including a finance company; money lender; installment lender; consumer lender or lending company; mortgage lender, broker, or bank; motor vehicle title pledge lender; payday or deferred deposit lender; premium finance company; commercial finance or lending company; or commercial mortgage company; except entities registered or licensed solely on account of financing the entity's direct sales of goods or services to customers; or (B) A money services business, including a check casher; money transmitter; currency dealer or exchange; or money order or traveler's check issuer; (iv) Any person registered with the Commodity Futures Trading Commission as a swap dealer or major swap participant pursuant to the Commodity Exchange Act (7 U.S.C. 1 et seq.), or an entity that is registered with the U.S. Securities and Exchange Commission as a security-based swap dealer or a major security-based swap participant pursuant to the Securities [[Page 641]] Exchange Act of 1934 (15 U.S.C. 78a et seq.); (v) A securities holding company as defined in section 618 of the Dodd-Frank Act (12 U.S.C. 1850a); a broker or dealer as defined in sections 3(a)(4) and 3(a)(5) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(4)-(5)); an investment company registered with the U.S. Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.); or a company that has elected to be regulated as a business development company pursuant to section 54(a) of the Investment Company Act of 1940 (15 U.S.C. 80a-53(a)); (vi) A private fund as defined in section 202(a) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-2(a)); an entity that would be an investment company under section 3 of the Investment Company Act of 1940 (15 U.S.C. 80a-3) but for section 3(c)(5)(C) of that Act; or an entity that is deemed not to be an investment company under section 3 of the Investment Company Act of 1940 pursuant to 17 CFR 270.3a-7 (Investment Company Act Rule 3a-7 of the U.S. Securities and Exchange Commission); (vii) A commodity pool, a commodity pool operator, or a commodity trading advisor as defined, respectively, in sections 1a(10), 1a(11), and 1a(12) of the Commodity Exchange Act (7 U.S.C. 1a(10), 1a(11), and 1a(12)); a floor broker, a floor trader, or introducing broker as defined, respectively, in sections 1a(22), 1a(23) and 1a(31) of the Commodity Exchange Act (7 U.S.C. 1a(22), 1a(23), and 1a(31)); or a futures commission merchant as defined in section 1a(28) of the Commodity Exchange Act (7 U.S.C. 1a(28)); (viii) An entity that is organized as an insurance company, primarily engaged in underwriting insurance or reinsuring risks underwritten by insurance companies; (ix) Any designated financial market utility, as defined in section 803 of the Dodd-Frank Act (12 U.S.C. 5462); and (x) An entity that would be a financial entity described in paragraphs (i) through (ix) of this definition, if it were organized under the laws of the United States or any State thereof. Indicated capital framework is defined in Sec. 217.605, provided that for purposes of Sec. 217.605(b)(2), the NAIC RBC frameworks for life insurance and fraternal insurers, property and casualty (P&C) insurance, and health insurance companies are different indicated capital frameworks. Inventory company means a company identified pursuant to Sec. 217.605(b)(1). Material means, for a company in the supervised insurance organization: (i) Where the top-tier depository institution holding company's total exposure to the company exceeds 5 percent of the maximum of-- (A) Top-tier depository institution holding company's company available capital; and (B) The largest company available capital of all capital regulated companies reported in the supervised insurance organization's inventory; or (ii) The company is otherwise significant when assessing the building block available capital or building block capital requirement of the top-tier depository institution holding company based on factors including risk exposure, activities, organizational structure, complexity, affiliate guarantees or recourse rights, and size. (iii) For purposes of this definition, total exposure includes: (A) The absolute value of the top-tier depository institution holding company's direct or indirect interest in the company capital elements of the company; (B) The maximum possible loss from a guarantee (explicit or implicit) the top-tier depository institution holding company or any other company in the supervised insurance organization provides for the benefit of the company; and (C) Maximum potential counterparty credit risk to the top-tier depository institution holding company or any other company in the supervised insurance organization arising from any derivative or similar instrument, reinsurance or similar arrangement, or other contractual agreement. Material financial entity means a financial entity that, together with its subsidiaries, but excluding any subsidiary capital-regulated company (or [[Page 642]] subsidiary thereof), is material, provided that an inventory company is not eligible to be a material financial entity if: (i) The supervised insurance organization has elected pursuant to Sec. 217.605(c) not to treat the company as a material financial entity; or (ii) The inventory company is a financial subsidiary, as defined in section 121 of the Gramm-Leach-Bliley Act. Member means, with respect to a building block, the building block parent or any of its downstream companies or subsidiaries that have been assigned to a building block. NAIC means the National Association of Insurance Commissioners. NAIC RBC means the most recent version of the Risk-Based Capital (RBC) For Insurers Model Act, together with the RBC instructions, as adopted in a substantially similar manner by an NAIC member and published in the NAIC's Model Regulation Service. Permitted accounting practice means an accounting practice, specifically requested by a state-regulated insurer, that departs from SAP and state prescribed accounting practices and has been approved by the state-regulated insurer's domiciliary state regulatory authority. Prescribed accounting practice means an accounting practice that is incorporated directly or by reference to state laws, regulations, and general administrative rules applicable to all insurance companies domiciled in a particular state. Principles based reserving (PBR) means the valuation standard adopted for certain life insurance reserves by the NAIC effective as of January 1, 2020. Recalculated building block capital requirement means, for a downstream building block parent and an upstream building block parent, the downstream building block parent's building block capital requirement recalculated assuming that the downstream building block parent had no upstream investment in the upstream building block parent. Regulatory capital framework means, with respect to a company, the applicable legal requirements, excluding this subpart, specifying the minimum amount of total regulatory capital the company must hold to avoid restrictions on distributions and discretionary bonus payments, regulatory intervention on the basis of capital adequacy levels for the company, or equivalent standards; provided that the NAIC RBC frameworks for life and fraternal insurance, P&C insurance, and health insurance companies are different regulatory capital frameworks. SAP means Statutory Accounting Principles as promulgated by the NAIC and adopted by a jurisdiction for purposes of financial reporting by insurance companies. Scalar compatible means a capital framework: (i) For which the Board has determined scalars; or (ii) That is an insurance capital regulatory framework, and exhibits each of the following three attributes: (A) The framework is clearly defined and broadly applicable; (B) The framework has an identifiable regulatory intervention point that can be used to calibrate a scalar; and (C) The framework provides a risk-sensitive measure of required capital reflecting material risks to a company's financial strength. Scaling means the translation of building block available capital and building block capital requirement from one indicated capital framework to another by application of Sec. 217.606. Submission date means the date as of which form FR Q-1 is filed with the Board. Supervised insurance organization means: (i) In the case of a depository institution holding company, the set of companies consisting of: (A) A top-tier depository institution holding company that is an insurance underwriting company, together with its inventory companies; or (B) A top-tier depository institution holding company, together with its inventory companies, that, as of June 30 of the previous calendar year, held 25 percent or more of its total consolidated assets in insurance underwriting companies (other than assets associated with insurance underwriting for credit risk). For purposes of this paragraph (i)(B), the supervised firm must [[Page 643]] calculate its total consolidated assets in accordance with GAAP, or if the firm does not calculate its total consolidated assets under GAAP for any regulatory purpose (including compliance with applicable securities laws), the company may estimate its total consolidated assets, subject to review and adjustment by the Board; or (ii) An institution that is otherwise subject to this subpart, as determined by the Board, together with its inventory companies. Tier 2 capital instruments has the meaning set out in Sec. 217.608(a). Top-tier depository institution holding company means a depository institution holding company that is not controlled by another depository institution holding company. Upstream building block parent means an upstream company that is a building block parent. Upstream company means a company within a supervised insurance organization that directly or indirectly controls a downstream company, or directly or indirectly owns part or all of a downstream company's company capital elements. Upstream investment means any direct or indirect investment by a downstream building block parent in an upstream building block parent. When calculating adjusted downstream building block available capital, the amount of the upstream investment is calculated as the impact, excluding any impact on taxes, on the downstream building block parent's building block available capital if the owner were to deduct the investment. U.S. Federal banking capital rules mean this part, other than this subpart, and the regulatory capital rules promulgated by the Federal Deposit Insurance Corporation at chapter III of this title and the Office of the Comptroller of the Currency at chapter I of this title. Sec. 217.603 BBA ratio and minimum requirements. (a) In general. A supervised insurance organization must determine its BBA ratio, subject to the minimum requirement set out in this section and buffer set out in Sec. 217.604, for each depository institution holding company within its enterprise by: (1) Establishing an inventory that includes the supervised insurance organization and every company that meets the requirements of Sec. 217.605(b)(1); (2) Identifying all building block parents as required under Sec. 217.605(b)(3); (3) Determining the available capital and capital requirement for each building block parent in accordance with its indicated capital framework; (4) Determining the building block available capital and building block capital requirement for each building block, reflecting adjustments and scaling as set out in this subpart; (5) Rolling up building block available capital and building block capital requirement amounts across all building blocks in the supervised insurance organization's enterprise to determine the same for any depository institution holding companies in the enterprise; and (6) Determining the ratio of building block available capital to building block capital requirement for each depository institution holding company in the supervised insurance organization. (b) Determination of BBA ratio. For a depository institution holding company in a supervised insurance organization, the BBA ratio is the ratio of the company's building block available capital to the company's building block capital requirement, each scaled to the common capital framework in accordance with Sec. 217.606. (c) Minimum capital requirement. A depository institution holding company in a supervised insurance organization must maintain a BBA ratio of at least 250 percent. (d) Capital adequacy. (1) Notwithstanding the minimum requirement in this subpart, a depository institution holding company in a supervised insurance organization must maintain capital commensurate with the level and nature of all risks to which it is exposed. The supervisory evaluation of the depository institution holding company's capital adequacy is based on an individual assessment of numerous factors, including the character and condition of the company's assets and its [[Page 644]] existing and prospective liabilities and other corporate responsibilities. (2) A depository institution holding company in a supervised insurance organization must have a process for assessing its overall capital adequacy in relation to its risk profile and a comprehensive strategy for maintaining an appropriate level of capital. Sec. 217.604 Capital conservation buffer. (a) Capital conservation buffer--(1) Composition of the capital conservation buffer. The capital conservation buffer is composed solely of building block available capital excluding tier 2 capital instruments and additional tier 1 capital instruments. (2) Definitions. For purposes of this section, the following definitions apply: (i) Distribution means: (A) A reduction of tier 1 capital through the repurchase of a tier 1 capital instrument or by other means, except when a Board-regulated institution, within the same quarter when the repurchase is announced, fully replaces a tier 1 capital instrument it has repurchased by issuing another capital instrument that meets the eligibility criteria for: (1) A common equity tier 1 capital instrument if the instrument being repurchased was part of the Board-regulated institution's common equity tier 1 capital; or (2) A common equity tier 1 or additional tier 1 capital instrument if the instrument being repurchased was part of the Board-regulated institution's tier 1 capital; (B) A reduction of tier 2 capital through the repurchase, or redemption prior to maturity, of a tier 2 capital instrument or by other means, except when a Board-regulated institution, within the same quarter when the repurchase or redemption is announced, fully replaces a tier 2 capital instrument it has repurchased by issuing another capital instrument that meets the eligibility criteria for a tier 1 or tier 2 capital instrument; (C) A dividend declaration or payment on any tier 1 capital instrument; (D) A dividend declaration or interest payment on any tier 2 capital instrument if the Board-regulated institution has full discretion to permanently or temporarily suspend such payments without triggering an event of default; (E) A discretionary dividend payment on participating insurance policies; or (F) Any similar transaction that the Board determines to be in substance a distribution of capital. (ii) Eligible retained income means, for a depository institution holding company in a supervised insurance organization, the annual change in the company's building block available capital, calculated as of the last day of the current and immediately preceding calendar years based on the supervised insurance organization's most recent form FR Q- 1, net of any distributions and accretion to building block available capital from capital instruments issued in the current or immediately preceding calendar year, excluding issuances corresponding with retirement of capital instruments under paragraph (a)(2)(i)(A) of this section. (iii) Maximum payout amount means, for the current calendar year, is equal to the Board-regulated institution's eligible retained income, multiplied by its maximum payout ratio. (iv) Maximum payout ratio means the percentage of eligible retained income that a Board-regulated institution can pay out in the form of distributions and discretionary bonus payments during the current calendar year. The maximum payout ratio is determined by the Board- regulated institution's capital conservation buffer, calculated as of the last day of the previous calendar year, as set forth in table 1 to this section. (3) Calculation of capital conservation buffer. The capital conservation buffer for a depository institution holding company in a supervised insurance organization is the greater of its BBA ratio, calculated as of the last day of the previous calendar year based on the supervised insurance organization's most recent form FR Q-1, minus the minimum capital requirement under Sec. 217.603(c), and zero. (4) Limits on distributions and discretionary bonus payments. (i) A top-tier depository institution holding company in a supervised insurance organization shall not make distributions or [[Page 645]] discretionary bonus payments or create an obligation to make such distributions or payments during the current calendar year that, in the aggregate, exceed its maximum payout amount. (ii) A top-tier depository institution holding company in a supervised insurance organization and that has a capital conservation buffer that is greater than 150 percent is not subject to a maximum payout amount under this section. (iii) Except as provided in paragraph (a)(4)(iv) of this section, a top-tier depository institution holding company in a supervised insurance organization may not make distributions or discretionary bonus payments during the current calendar year if the Board-regulated institution's: (A) Eligible retained income is negative; and (B) Capital conservation buffer was less than 150 percent as of the end of the previous calendar year. (iv) Notwithstanding the limitations in paragraphs (a)(4)(i) through (iii) of this section, the Board may permit a top-tier depository institution holding company in a supervised insurance organization to make a distribution or discretionary bonus payment upon a request of the depository institution holding company, if the Board determines that the distribution or discretionary bonus payment would not be contrary to the purposes of this section, or to the safety and soundness of the depository institution holding company. In making such a determination, the Board will consider the nature and extent of the request and the particular circumstances giving rise to the request. (b) [Reserved] Table 1 to Sec. 217.604--Calculation of Maximum Payout Amount ------------------------------------------------------------------------ Maximum payout ratio (as a Capital conservation buffer percentage of eligible retained income) ------------------------------------------------------------------------ Greater than 150 percent.................. No payout ratio limitation applies. Less than or equal to 150 percent, and 60 percent. greater than 113 percent. Less than or equal to 113 percent, 40 percent. andgreater than 75 percent. Less than or equal to 75 percent, and 20 percent. greater than 38 percent. Less than or equal to 38 percent.......... 0 percent. ------------------------------------------------------------------------ Sec. 217.605 Determination of building blocks. (a) In general. A supervised insurance organization must identify each building block parent and its allocation share of any downstream building block parent, as applicable. (b) Operation. To identify building block parents and determine allocation shares, a supervised insurance organization must take the following steps in the following order: (1) Inventory of companies. A supervised insurance organization must identify as inventory companies: (i) All companies that are-- (A) Required to be reported on the FR Y-6; (B) Required to be reported on the FR Y-10; or (C) Classified as affiliates in accordance with NAIC Statement of Statutory Accounting Principles (SSAP) No. 25 and Schedule Y; (ii) Any company, special purpose entity, variable interest entity, or similar entity that: (A) Enters into one or more reinsurance or derivative transactions with inventory companies identified pursuant to paragraph (b)(1)(i) of this section; (B) Is material; (C) Is engaged in activities such that one or more inventory companies identified pursuant to paragraph (b)(1)(i) of this section are expected to absorb more than 50 percent of its expected losses; and (D) Is not otherwise identified as an inventory company; and (iii) Any other company that the Board determines must be identified as an inventory company. (2) Determination of indicated capital framework. (i) A supervised insurance organization must: [[Page 646]] (A) Determine the indicated capital framework for each inventory company; and (B) Identify inventory companies that are subject to a regulatory capital framework. (ii) The indicated capital framework for an inventory company is: (A) If the inventory company is not engaged in insurance or reinsurance underwriting, the U.S. Federal banking capital rules, in particular: (1) If the inventory company is not a depository institution, subparts A through F of this part; and (2) If the inventory company is a depository institution, the regulatory capital framework applied to the depository institution by the appropriate primary Federal regulator--that is, subparts A through F of this part (Board), part 3 of this title (Office of the Comptroller of the Currency), or part 324 of this title (Federal Deposit Insurance Corporation), as applicable; (B) If the inventory company is engaged in insurance or reinsurance underwriting and subject to a regulatory capital framework that is scalar compatible, the regulatory capital framework; and (C) If the inventory company is engaged in insurance or reinsurance underwriting and not subject to a regulatory capital framework that is scalar compatible, then NAIC RBC for life and fraternal insurers, health insurers, or property & casualty insurers based on the company's primary source of premium revenue. (3) Identification of building block parents. A supervised insurance organization must identify all building block parents according to the following procedure: (i)(A) Identify all top-tier depository institution holding companies in the supervised insurance organization. (B) Any top-tier depository institution holding company is a building block parent. (ii)(A) Identify any inventory company that is a depository institution holding company. (B) An inventory company identified in paragraph (b)(3)(ii)(A) of this section is a building block parent. (iii) Identify all inventory companies that are capital-regulated companies (that is, inventory companies that are subject to a regulatory capital framework) or material financial entities. (iv)(A) Of the inventory companies identified in paragraph (b)(3)(iii) of this section, identify any inventory company that: (1) Is assigned an indicated capital framework that is different from the indicated capital framework of any next upstream inventory company identified in paragraphs (b)(3)(i) through (iii) of this section or does not have a next upstream inventory company; and (i) In a simple structure, an inventory company would compare its indicated capital framework to the indicated capital framework of its parent company. However, if the parent company does not meet the criteria to be identified as a building block parent, the inventory company must compare its capital framework to the next upstream company that is eligible to be identified as a building block parent. For purposes of this paragraph (b)(3)(iv), a company is ``next upstream'' to a downstream company if it controls or owns, in whole or in part, a company capital element of the downstream company either directly, or indirectly other than through a company identified in paragraphs (b)(3)(ii) and (iii) of this section. (ii) [Reserved] (2) Is assigned an indicated capital framework for which the Board has determined a scalar or, if the company in aggregate with all other companies subject to the same indicated capital framework are material, a provisional scalar; (B) Of the inventory companies identified in paragraph (b)(3)(iii) of this section, identify any inventory company that: (1) Is assigned an indicated capital framework that is the same as the indicated capital framework of each next upstream inventory company identified in paragraphs (b)(3)(i) through (iii) of this section; (2) Is assigned an indicated capital framework for which the Board has determined a scalar or, if the company in aggregate with all other companies subject to the same indicated capital [[Page 647]] framework is material, a provisional scalar; and (3) Is owned, in whole or part, by an inventory company that is subject to the same regulatory capital framework, and the owner: (i) Applies a charge on the inventory company's equity value in calculating its company capital requirement; or (ii) Deducts all or a portion of its investment in the inventory company in calculating its company available capital. (C) An inventory company identified in paragraph (b)(3)(iv)(A) through (B) of this section is a building block parent. (v) Include any inventory company identified in paragraph (b)(1)(ii) of this section as a building block parent. (vi)(A) Identify any inventory company-- (1) For which more than one building block parent, as identified pursuant to paragraphs (b)(3)(i) through (v) of this section, owns a company capital element either directly or indirectly other than through another such building block parent; and (2)(i) Is consolidated under any such building block parent's indicated capital framework; or (ii) Owns downstreamed capital. (B) An inventory company identified in paragraph (b)(3)(vi)(A) of this section is a building block parent. (4) Building blocks. (i) Except as provided in paragraph (b)(4)(ii) of this section, a supervised insurance organization must assign an inventory company to the building block of any building block parent that owns a company capital element of the inventory company, or of which the inventory company is a subsidiary, directly or indirectly through any company other than a building block parent, unless the inventory company is a building block parent. (A) For purposes of this section, subsidiary includes a company that is required to be reported on the FR Y-6, FR Y-10, or NAIC's Schedule Y, as applicable. (B) [Reserved] (ii) A supervised insurance organization is not required to assign to a building block any inventory company that is not a downstream company or subsidiary of a top-tier depository institution holding company. (5) Financial statements. The supervised insurance organization must: (i) For any inventory company whose indicated capital framework is NAIC RBC, prepare financial statements in accordance with SAP; and (ii) For any building block parent whose indicated capital framework is subparts A through F of this part: (A) Apply the same elections and treatment of exposures as are applied to the subsidiary depository institution; (B) Apply subparts A through F of this part, to the members of the building block of which the building block parent is a member, on a consolidated basis, to the same extent as if the building block parent were a Board-regulated institution; and (C) Where the building block parent is not the top-tier depository institution holding company, not deduct investments in capital of unconsolidated financial institutions, nor exclude these investments from the calculation of risk-weighted assets. (6) Allocation share. A supervised insurance organization must, for each building block parent, identify any downstream building block parent owned directly or indirectly through any company other than a building block parent, and determine the building block parent's allocation share of these downstream building block parents pursuant to paragraph (d) of this section. (c) Material financial entity election. (1) A supervised insurance organization may elect not to treat an inventory company meeting the criteria in paragraph (c)(2) of this section as a material financial entity. An election under this paragraph (c)(1) must be included with the first financial statements submitted to the Board after the company is included in the supervised insurance organization's inventory. (2) The election in paragraph (c)(1) of this section is available to an inventory company if: (i) The company engages in transactions consisting solely of either-- (A) Transactions for the purpose of transferring risk from one or more affiliates within the supervised insurance [[Page 648]] organization to one or more third parties; or (B) Transactions to invest assets contributed to the company by one or more affiliates within the supervised insurance organization, where the company is established for purposes of limiting tax obligation or legal liability; and (ii) The supervised insurance organization is able to calculate the adjustment required in Sec. 217.607(b)(4). (d) Allocation share. (1) Except as provided in paragraph (d)(2) of this section, a building block parent's allocation share of a downstream building block parent is calculated as the percentage of equity ownership of a downstream building block parent, including associated paid-in capital, held by an upstream building block parent directly or indirectly through a member of the upstream building block parent's building block. (2) The top-tier depository institution holding company's allocation share of a building block parent that has no outstanding common equity or that is identified under paragraph (b)(3)(v) of this section is 100 percent. Any other building block parent's allocation share of such building block parent is zero. Sec. 217.606 Scaling parameters. (a) Scaling specified by the Board--(1) Scaling between the U.S. Federal banking capital rules and NAIC RBC--(i) Scaling capital requirement. When calculating the building block capital requirement for a building block parent in accordance with Sec. 217.607, where the indicated capital framework is NAIC RBC or the U.S. Federal banking capital rules, and where the indicated capital framework of the appropriate downstream building block parent is NAIC RBC or the U.S. Federal banking capital rules, the capital requirement scaling modifier is provided by table 1 to this paragraph (a)(1)(i). Table 1 to Paragraph (a)(1)(i)--Capital Requirement Scaling Modifiers for NAIC RBC and the U.S. Federal Banking Capital Rules ------------------------------------------------------------------------ Upstream building block parent's indicated capital framework: ------------------------------------- U.S. Federal banking NAIC RBC capital rules ------------------------------------------------------------------------ Downstream building block parent's indicated capital framework: U.S. Federal banking capital 0.0106 1 rules........................ NAIC RBC...................... 1 94.3 ------------------------------------------------------------------------ (ii) Scaling available capital. When calculating the building block available capital for a building block parent in accordance with Sec. 217.608, where the indicated capital framework is NAIC RBC or the U.S. Federal banking capital rules, and where the indicated capital framework of the appropriate downstream building block parent is NAIC RBC or the U.S. Federal banking capital rules, the available capital scaling modifier is provided by table 2 to this paragraph (a)(1)(ii). Table 2 to Paragraph (a)(1)(ii)--Available Capital Scaling Modifiers for NAIC RBC and the U.S. Federal Banking Capital Rules ------------------------------------------------------------------------ Upstream building block parent's indicated capital framework: --------------------------------------- U.S. Federal NAIC RBC banking capital rules ------------------------------------------------------------------------ Downstream building block parent's indicated capital framework: U.S. Federal banking capital Recalculated 0. rules. building block capital requirement * 0.063. NAIC RBC.................... 0................. Recalculated building block capital requirement * 5.9. Capital framework: NAIC RBC.................... 0................. Recalculated building block capital requirement * 5.9. ------------------------------------------------------------------------ [[Page 649]] (2) Scaling to determine BBA ratio. For purposes of determining the BBA ratio under Sec. 217.603(b)-- (i) A depository institution holding company for which the indicated capital framework is the U.S. Federal banking capital rules scales its building block available capital and building block capital requirement the common capital framework by using the methods described in paragraphs (a)(1) of this section. For purposes of scaling under this paragraph (a)(2)(i), the downstream building block parent's indicated capital framework is the U.S. Federal banking capital rules and the upstream building block parent's indicated capital framework is NAIC RBC; and (ii) A depository institution holding company for which the indicated capital framework is NAIC RBC does not scale its building block available capital or building block capital requirement. (b) Scaling not specified by the Board but framework is scalar compatible. Where a scaling modifier to be used in Sec. 217.607 or Sec. 217.608 is not specified in paragraph (a) of this section, and the building block parent's indicated capital framework (i.e., jurisdictional capital framework) is scalar compatible, a building block parent determines the scaling modifier as follows: (1) Definitions. For purposes of this section, the following definitions apply: (i) Jurisdictional intervention point. The jurisdictional intervention point is the capital level, under the laws of the jurisdiction for its domestic insurers, at which the supervisory authority in the jurisdiction may intervene as to a company subject its capital framework by imposing restrictions on distributions and discretionary bonus payments by the company or, if no such intervention may occur in a jurisdiction, then the capital level at which the supervisory authority would first have the authority to take action against a company based on its capital level. (ii) Jurisdiction adjustment. The jurisdictional adjustment is the risk adjustment set forth in table 3 to this paragraph (b)(1)(ii), based on the country risk classification set by the Organization for Economic Cooperation and Development (OECD) for the jurisdiction. This adjustment is applied to the jurisdictional intervention point. Table 3 to Paragraph (b)(1)(ii)--Jurisdictional Adjustments by OECD Country Risk Classification ------------------------------------------------------------------------ Jurisdictional OECD CRC adjustment (percent) ------------------------------------------------------------------------ 0-1, including jurisdictions with no OECD country 0 risk classification................................. 2.................................................... 20 3.................................................... 50 4-6.................................................. 100 7.................................................... 150 ------------------------------------------------------------------------ (2) Scaling capital requirement. When calculating the building block capital requirement for a building block parent in accordance with Sec. 217.607, where the indicated capital framework of the appropriate downstream building block parent is a scalar-compatible framework for which the Board has not specified a capital requirement scaling modifier, the capital requirement scaling modifier is calculated according to the following formula: Equation 1 to Paragraph (b)(2) [GRAPHIC] [TIFF OMITTED] TR27NO23.001 Where: Adjustmentscaling from is equal to the jurisdictional adjustment of the downstream building block parent; Requirementscaling from is equal to the jurisdictional intervention point of the downstream building block parent; and Requirementscaling to is equal to the jurisdictional intervention point of the upstream building block parent. (3) Scaling available capital. When calculating the building block available capital for a building block parent in [[Page 650]] accordance with Sec. 217.608, where the indicated capital framework of the appropriate downstream building block parent is a scalar-compatible framework for which the Board has not specified an available capital scaling modifier, the available capital scaling modifier is equal to zero. Sec. 217.607 Capital requirements under the Building Block Approach. (a) Determination of building block capital requirement. For each building block parent, building block capital requirement means the sum of the items in paragraphs (a)(1) and (2) of this section: (1) The company capital requirement of the building block parent; that is: (i) Recalculated under the assumption that members of the building block parent's building block had no investment in any downstream building block parent; and is: (ii) Adjusted pursuant to paragraph (b) of this section; (2) For each downstream building block parent, the adjusted downstream building block capital requirement (BBCRADJ), which is calculated according to the following formula: Equation 1 to Paragraph (a)(2) BBCRADJ = BBCRDS [middot] CRSM [middot] AS Where: BBCRDS is equal to the building block capital requirement of the downstream building block parent recalculated under the assumption that the downstream building block parent had no upstream investment in the building block parent; CRSM is equal to the appropriate capital requirement scaling modifier under Sec. 217.606; and AS is equal to the building block parent's allocation share of the downstream building block parent. (b) Adjustments in determining the building block capital requirement. A supervised insurance organization must adjust the company capital requirement for any building block parent as follows: (1) Internal credit risk charges. A supervised insurance organization must deduct from the building block parent's company capital requirement any difference between: (i) The building block parent's company capital requirement; and (ii) The building block parent's company capital requirement recalculated excluding capital requirements related to potential for the possibility of default of any company in the supervised insurance organization. (2) Permitted accounting practices and prescribed accounting practices. A supervised insurance organization must adjust the building block parent's company capital requirement by any difference between: Note 1 to paragraph (b)(2) introductory text: The adjustment can be either positive or negative depending on the permitted or prescribed practices. In most cases, the reversal of the permitted or prescribed practice would result in an increase in the building block parent's company required capital. In rare cases, a permitted or prescribed practice could increase the insurers required capital. In this instance, this adjustment would reduce the building block parent's company required capital. (i) The building block parent's company capital requirement, after making any adjustment in accordance with paragraph (b)(1) of this section; and (ii) The building block parent's company capital requirement, after making any adjustment in accordance with paragraph (b)(1) of this section, recalculated under the assumption that neither the building block parent, nor any company that is a member of that building block parent's building block, had prepared its financial statements with the application of any permitted accounting practice, prescribed accounting practice, or other practice, including legal, regulatory, or accounting procedures or standards, that departs from a solvency framework as promulgated for application in a jurisdiction. (3) Risks of certain intermediary entities. Where a supervised insurance organization has made an election with respect to a company not to treat that company as a material financial entity pursuant to Sec. 217.605(c), the supervised insurance organization must add to the company capital requirement of any building block parent, whose building block contains a member, with which the company engages in one or more [[Page 651]] transactions, and for which the company engages in one or more transactions described in Sec. 217.605(c)(2) with a third party, any difference between: (i) The building block parent's company capital requirement; and (ii) The building block parent's company capital requirement recalculated taking into account the risks of the company, excluding internal credit risks described in paragraph (b)(1) of this section, allocated to the building block parent, reflecting the transaction(s) that the company engages in with any member of the building block parent's building block. Note, the total allocation of the risks of the intermediary entity to building block parents must capture all material risks and avoid double counting. (4) Investments in own capital instruments--(i) In general. A supervised insurance organization must deduct from the building block parent's company capital requirement any difference between: (A) The building block parent's company capital requirement; and (B) The building block parent's company capital requirement recalculated after assuming that neither the building block parent, nor any company that is a member of the building block parent's building block, held any investment in the building block parent's own capital instrument(s), including any net long position determined in accordance with paragraph (b)(5)(ii) of this section. (ii) Net long position. For purposes of calculating an investment in a building block parent's own capital instrument under this section, the net long position is determined in accordance with Sec. 217.22(h), provided that a separate account asset or associated guarantee is not regarded as an indirect exposure unless the net long position of the fund underlying the separate account asset (determined in accordance with Sec. 217.22(h) without regard to this paragraph (b)(4)(ii)) equals or exceeds 5 percent of the value of the fund. (5) Risks relating to title insurance. A supervised insurance organization must add to the building block parent's company capital requirement the amount of the building block parent's reserves for claims pertaining to title insurance, multiplied by 300 percent. Sec. 217.608 Available capital resources under the Building Block Approach. (a) Qualifying capital instruments--(1) General criteria. A qualifying capital instrument with respect to a building block parent is a capital instrument that meets the following criteria: (i) The instrument is issued and paid-in; (ii) The instrument is subordinated to depositors and general creditors of the building block parent; (iii) The instrument is not secured, not covered by a guarantee of the building block parent or of an affiliate of the building block parent, and not subject to any other arrangement that legally or economically enhances the seniority of the instrument in relation to more senior claims; (iv) The instrument has a minimum original maturity of at least five years. At the beginning of each of the last five years of the life of the instrument, the amount that is eligible to be included in building block available capital is reduced by 20 percent of the original amount of the instrument (net of redemptions), and is excluded from building block available capital when the remaining maturity is less than one year. In addition, the instrument must not have any terms or features that require, or create significant incentives for, the building block parent to redeem the instrument prior to maturity; and Note 1 to paragraph (a)(1)(iv): A building block parent may replace qualifying capital instruments concurrent with the redemption of existing qualifying capital instruments. (v) The instrument, by its terms, may be called by the building block parent only after a minimum of five years following issuance, except that the terms of the instrument may allow it to be called sooner upon the occurrence of an event that would preclude the instrument from being included in the building block parent's company available capital or building block available capital, a tax event, or if the issuing entity is required to register as an investment company pursuant to the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.). In addition: [[Page 652]] (A) The top-tier depository institution holding company must receive the prior approval of the Board to exercise a call option on the instrument. (B) The building block parent does not create at issuance, through action or communication, an expectation the call option will be exercised. (C) Prior to exercising the call option, or immediately thereafter, the top-tier depository institution holding company must either: replace any amount called with an equivalent amount of an instrument that meets the criteria for qualifying capital instruments under this section; or demonstrate to the satisfaction of the Board that following redemption, the top-tier depository institution holding company would continue to hold an amount of capital that is commensurate with its risk. Note 2 to paragraph (a)(1)(v)(C): A building block parent may replace qualifying capital instruments concurrent with the redemption of existing qualifying capital instruments. (vi) Redemption of the instrument prior to maturity or repurchase requires the prior approval of the Board. (vii) The instrument meets the criteria in Sec. 217.20(d)(1)(vi) through (ix) and (xi), except that each instance of ``Board-regulated institution'' is replaced with ``building block parent'' and, in Sec. 217.20(d)(1)(ix), ``tier 2 capital instruments'' is replaced with ``qualifying capital instruments''. (2) Additional tier 1 capital instruments. Additional tier 1 capital instruments of a top-tier depository institution holding company are instruments issued by any inventory company that are qualifying capital instruments under paragraph (a)(1) of this section and meet all of the following criteria: Note 3 to paragraph (a)(2) introductory text: For purposes of this paragraph (a)(2), the supervised insurance organization evaluates the criteria in paragraph (a)(1) of this section with regard to the building block in which the issuing inventory company is a member. (i) The instrument is subordinated to depositors, general creditors, and subordinated debt holders of the building block parent in a receivership, insolvency, liquidation, or similar proceeding; (ii) The instrument is not secured, not covered by a guarantee of the building block parent or of an affiliate of the building block parent, and not subject to any other arrangement that legally or economically enhances the seniority of the instrument; (iii) The instrument has no maturity date and does not contain a dividend step-up or any other term or feature that creates an incentive to redeem; and (iv) If callable by its terms, the instrument may be called only after a minimum of five years following issuance, except that the terms of the instrument may allow it to be called earlier than five years upon the occurrence of a regulatory event that precludes the instrument from being included in the building block parent's company available capital or building block available capital, a tax event, or if the issuing entity is required to register as an investment company pursuant to the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.). In addition: (A) The top-tier depository institution holding company must receive the prior approval of the Board to exercise a call option on the instrument. (B) The building block parent does not create at issuance, through action or communication, an expectation that the call option will be exercised. (C) Prior to exercising the call option, or immediately thereafter, the top-tier depository institution holding company must either: replace any amount called with an equivalent amount of an instrument that meets the criteria for additional tier 1 capital instruments or common equity tier 1 instruments under this section; or demonstrate to the satisfaction of the Board that following redemption, the top-tier depository institution holding company would continue to hold an amount of capital that is commensurate with its risk. Note 4 to paragraph (a)(2)(iv)(C): A building block parent may replace qualifying capital instruments concurrent with the redemption of existing qualifying capital instruments. (v) Redemption or repurchase of the instrument requires prior approval of the Board. (vi) The paid-in amount would be classified as equity under GAAP. [[Page 653]] (vii) The instrument meets the criteria in Sec. 217.20(c)(1)(vii) through (ix) and (xi) through (xiv), except that each instance of ``Board-regulated institution'' is replaced with ``building block parent''. (3) Common equity tier 1 capital instruments. Common equity tier 1 capital instruments of a top-tier depository institution holding company are instruments issued by any inventory company that are qualifying capital instruments under paragraph (a)(1) of this section and that meet all of the following criteria: Note 5 to paragraph (a)(3) introductory text: For purposes of this paragraph (a)(3), the supervised insurance organization evaluates the criteria in paragraph (a)(1) of this section with regard to the building block in which the issuing inventory company is a member. (i) The holders of the instrument bear losses, as they occur, equally, proportionately, and simultaneously with the holders of all other qualifying capital instruments (other than additional tier 1 capital instruments or tier 2 capital instruments) before any losses are borne by holders of claims on the building block parent any with greater priority in a receivership, insolvency, liquidation, or similar proceeding. (ii) The paid-in amount would be classified as equity under GAAP. (iii) The instrument meets the criteria in Sec. 217.20(b)(1)(i) through (vii) and (x) through (xiii). (4) Tier 2 capital instruments. Tier 2 capital instruments of a top- tier depository institution holding company are instruments issued by any inventory company that are qualifying capital instruments under paragraph (a)(1) of this section and are not additional tier 1 capital instruments or common equity tier 1 capital instruments. (b) Determination of building block available capital--(1) In general. For each building block parent, building block available capital means the sum of the items described in paragraphs (b)(1)(i) and (ii) of this section: (i) The company available capital of the building block parent: (A) Less the amount of downstreamed capital owned by any member of the building block parent's building block; and (B) Adjusted pursuant to paragraph (c) of this section. (ii) For each downstream building block parent, the adjusted downstream building block available capital (BBACADJ), which is calculated according to the following formula: Equation 1 to Paragraph (b)(1)(ii) BBACADJ = (BBACDS-UpInv + ACSM) [middot]AS Where: BBACDS is equal to the building block available capital of the downstream building block parent; UpInv is equal to the amount of any upstream investment held by that downstream building block parent in the building block parent; ACSM is equal to the appropriate available capital scaling modifier under Sec. 217.606; and AS is equal to the building block parent's allocation share of the downstream building block parent. (2) Combining tiers of capital. If there is more than one tier of company available capital under a building block parent's indicated capital framework, the amounts of company available capital from all tiers are combined in calculating building block available capital in accordance with paragraph (b) of this section. (c) Adjustments in determining building block available capital. For purposes of the calculations required in paragraph (b) of this section, a supervised insurance organization must adjust the company available capital for any building block parent as follows: (1) Nonqualifying capital instruments. A supervised insurance organization must deduct from the building block parent's company available capital any accretion arising from any instrument issued by any company that is a member of the building block parent's building block, where the instrument is not a qualifying capital instrument. (2) Insurance underwriting RBC. When applying the U.S. Federal banking capital rules as the indicated capital framework for a building block parent, a supervised insurance organization must add back into the building block parent's company available capital any amounts deducted pursuant to Sec. 3.22(b)(3) of this title, Sec. 217.22(b)(3), or Sec. 324.22(b)(3) of this title, as applicable. [[Page 654]] (3) Permitted accounting practices and prescribed accounting practices. A supervised insurance organization must adjust the building block parent's company available capital by any difference between: (i) The building block parent's company available capital; and (ii) The building block parent's company available capital recalculated under the assumption that neither the building block parent, nor any company that is a member of that building block parent's building block, had prepared its financial statements with the application of any permitted accounting practice, prescribed accounting practice, or other practice, including legal, regulatory, or accounting procedures or standards, that departs from a solvency framework as promulgated for application in a jurisdiction. (4) Adjusting certain life insurance reserves. A supervised insurance organization must adjust the building block parent's company available capital by any difference between: (i) The building block parent's company available capital; and (ii) The building block parent's company available capital recalculated based on using a 40 percent factor applied to all term life insurance accounted for using an approach based on the Valuation of Life Insurance Policies Model Regulation and a 90 percent factor applied to all secondary-guaranteed universal life insurance products accounted for using Actuarial Guideline XXXVIII--The Application of the Valuation of Life Insurance Policies Model Regulation. (5) Deduction of investments in own capital instruments--(i) In general. A supervised insurance organization must deduct from the building block parent's company available capital any investment by the building block parent in its own capital instrument(s), or any investment by any member of the building block parent's building block in capital instruments of the building block parent, including any net long position determined in accordance with paragraph (c)(5)(ii) of this section, to the extent that such investment(s) would otherwise be accretive to the building block parent's building block available capital. (ii) Net long position. For purposes of calculating an investment in a building block parent's own capital instrument under this section, the net long position is determined in accordance with Sec. 217.22(h), provided that a separate account asset or associated guarantee is not regarded as an indirect exposure unless the net long position of the fund underlying the separate account asset (determined in accordance with Sec. 217.22(h) without regard to this paragraph (c)(5)(ii)) equals or exceeds 5 percent of the value of the fund. (6) Reciprocal cross holdings in the capital of financial institutions. A supervised insurance organization must deduct from the building block parent's company available capital any investment(s) by the building block parent in the capital of unaffiliated financial institutions that it holds reciprocally, where such reciprocal cross holdings result from a formal or informal arrangement to swap, exchange, or otherwise intend to hold each other's capital instruments, to the extent that such investment(s) would otherwise be accretive to the building block parent's building block available capital. (d) Limits on certain elements in building block available capital of top-tier depository institution holding companies--(1) Investment in capital of unconsolidated financial institutions. (i) A top-tier depository institution holding company must deduct from its building block available capital any accreted capital from an investment in the capital of an unconsolidated financial institution that is not an inventory company, that exceeds twenty-five percent of the amount of its building block available capital, prior to application of this adjustment, excluding tier 2 capital instruments. For purposes of this paragraph (d)(1), the amount of an investment in the capital of an unconsolidated financial institution is calculated in accordance with Sec. 217.22(h), except that a separate account asset or associated guarantee is not an indirect exposure. (ii) The deductions described in this paragraph (d)(1) are net of associated deferred tax liabilities in accordance with Sec. 217.22(e). [[Page 655]] (2) Adjustments to accretions from tier 2 capital instruments. A top-tier depository institution holding company must adjust accretions from tier 2 capital instruments in accordance with this paragraph (d)(2). (i) A top-tier depository institution holding company must deduct any accretions from tier 2 capital instruments that, in the aggregate, exceed the greater of: (A) 150 percent of the amount of its building block capital requirement; and (B) The amount of instruments subject to paragraph (e) or (f) of this section that are outstanding as of the submission date; and (ii) A top-tier depository institution holding company must increase accretions from tier 2 capital instruments by any amount deducted from accretions from additional tier 1 capital instruments by operation of paragraph (d)(3) of this section. (3) Limitation on additional tier 1 capital instruments. A top-tier depository institution holding company must deduct any accretions from additional tier 1 capital instruments that, in the aggregate, exceed the greater of: (i) 100 percent of the amount of its building block capital requirement; and (ii) The amount of instruments subject to paragraph (f) of this section that are outstanding as of the submission date. (e) Treatment of outstanding surplus notes. A surplus note issued by any company in a supervised insurance organization is deemed to meet the criteria in paragraphs (a)(1)(iii) and (vi) of this section if: (1) The instrument was issued prior to the later of-- (i) November 1, 2019; and (ii) The earliest date on which any depository institution holding company in the group became a depository institution holding company; (2) The surplus note is a company capital element for the issuing company; (3) The surplus note is not owned by an affiliate of the issuer; and (4) The surplus note is outstanding as of the submission date. (f) Treatment of certain callable instruments. Notwithstanding the criteria under paragraph (a)(1) of this section, an instrument with terms that provide that the instrument may be called earlier than five years upon the occurrence of a rating event does not violate the criterion in paragraph (a)(1)(v) of this section, provided that the instrument was a company capital element issued prior to January 1, 2014, and that such instrument satisfies all other criteria under paragraph (a)(1) of this section. (g) Board approval of a capital instrument. (1) A supervised insurance organization must receive Board prior approval to include in its building block available capital for any building block an instrument (as listed in this section), issued by any company in the supervised insurance organization, unless the instrument: (i) Was a capital element for the issuer prior to May 19, 2010, in accordance with the indicated capital framework that was effective as of that date and the underlying instrument meets the criteria to be a qualifying capital instrument (as defined in paragraph (a) of this section); or (ii) Is equivalent, in terms of capital quality and ability to absorb losses with respect to all material terms, to a company capital element that the Board determined may be included in regulatory capital pursuant to paragraph (g)(2) of this section, or may be included in the regulatory capital of a Board-regulated institution pursuant to Sec. 217.20(e)(3). (2) After determining that an instrument may be included in a supervised insurance organization's regulatory capital under this subpart, the Board will make its decision publicly available, including a brief description of the material terms of the instrument and the rationale for the determination. [[Page 656]] Sec. Appendix A to Part 217--The Federal Reserve Board's Framework for Implementing the Countercyclical Capital Buffer 1. Background (a) In 2013, the Board of Governors of the Federal Reserve System (Board) issued a final regulatory capital rule (Regulation Q) in coordination with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) that strengthened risk-based and leverage capital requirements applicable to insured depository institutions and depository institution holding companies (banking organizations).\1\ Among those changes was the introduction of a countercyclical capital buffer (CCyB) for large, internationally active banking organizations.\2\ --------------------------------------------------------------------------- \1\ See 12 CFR part 217; Federal Reserve Board Approves Final Rule To Help Ensure Banks Maintain Strong Capital Positions (July 2, 2013), available at http://www.federalreserve.gov; Agencies Adopt Supplementary Leverage Ratio Notice of Proposed Rulemaking (July 9, 2013), available at http://www.occ.gov; and FDIC Board Approves Basel III Interim Final Rule and Supplementary Leverage Ratio Notice of Proposed Rulemaking (July 9, 2013) available at https://www.fdic.gov. \2\ 12 CFR 217.11(b). The CCyB applies only to banking organizations subject to the advanced approaches capital rules, which generally apply to those banking organizations with greater than $250 billion in assets or more than $10 billion in on-balance-sheet foreign exposures. See 12 CFR 217.100(b). An advanced approaches institution is subject to the CCyB regardless of whether it has completed the parallel run process and received notification from its primary Federal supervisor. See 12 CFR 217.121(d). --------------------------------------------------------------------------- (b) The CCyB is a supplemental, macroprudential policy tool that the Board can increase during periods of rising vulnerabilities in the financial system and reduce when vulnerabilities recede. It is designed to increase the resilience of large banking organizations when there is an elevated risk of above-normal losses. Increasing the resilience of large banking organizations will, in turn, improve the resilience of the broader financial system. Above-normal losses often follow periods of rapid asset price appreciation or credit growth that are not well supported by underlying economic fundamentals. The circumstances in which the Board would most likely begin to increase the CCyB above zero percent to augment minimum capital requirements and other capital buffers would be when systemic vulnerabilities are meaningfully above normal. By requiring large banking organizations to hold additional capital during those periods of excess and removing the requirement to hold additional capital when the vulnerabilities have diminished, the CCyB also is expected to moderate fluctuations in the supply of credit over time. Moderating the supply of credit may mitigate or prevent the conditions that contribute to above-normal losses, such as elevated asset prices and excessive leverage, and prevent or mitigate reductions in lending to creditworthy borrowers that can amplify an economic downturn. In this way, implementation of the CCyB also responds to the Dodd-Frank Act's requirement that the Board seek to make its capital requirements countercyclical.\3\ --------------------------------------------------------------------------- \3\ 12 U.S.C. 1844(b), 1464a(g)(1), and 3907(a)(1) (codifying sections 616(a), (b), and (c) of the Dodd-Frank Act). --------------------------------------------------------------------------- (c) Regulation Q established the initial CCyB amount with respect to private sector credit exposures located in the United States (U.S.-based credit exposures) at zero percent and provided that the maximum potential amount of the CCyB for credit exposures in the United States was 2.5 percent of risk-weighted assets.\4\ The Board expects to make decisions about the appropriate level of the CCyB for U.S.-based credit exposures jointly with the OCC and FDIC, and expects that the CCyB amount for U.S.-based credit exposures will be the same for covered depository institution holding companies and insured depository institutions. The CCyB is designed to take into account the macrofinancial environment in which banking organizations function and the degree to which that environment impacts the resilience of advanced approaches institutions. Therefore, the appropriate level of the CCyB for U.S.-based credit exposures is not closely linked to the characteristics of an individual institution. Rather, the impact of the CCyB on any single institution will depend on the particular composition of the private-sector credit exposures of the institution across national jurisdictions. --------------------------------------------------------------------------- \4\ The CCyB is subject to a phase-in arrangement between 2016 and 2019. See 12 CFR 217.300(a)(2). --------------------------------------------------------------------------- 2. Overview and Scope of the Policy Statement This Policy Statement describes the framework that the Board will follow in setting the amount of the CCyB for U.S.-based credit exposures. The framework consists of a set of principles for translating assessments of financial system vulnerabilities that are regularly undertaken by the Board into the appropriate level of the CCyB. Those assessments are informed by a broad array of quantitative indicators of financial and economic performance and a set of empirical models. In addition, the framework includes [[Page 657]] an assessment of whether the CCyB is the most appropriate policy instrument (among available policy instruments) to address the highlighted financial system vulnerabilities. 3. The Objectives of the CCyB (a) The objectives of the CCyB are to strengthen banking organizations' resilience against the build-up of systemic vulnerabilities and reduce fluctuations in the supply of credit. The CCyB supplements the minimum capital requirements and the capital conservation buffer, which themselves are designed to provide substantial resilience to unexpected losses created by normal fluctuations in economic and financial conditions. The capital surcharge on global systemically important banking organizations adds an additional layer of defense for the largest and most systemically important institutions, whose financial distress can have outsized effects on the rest of the financial system and the real economy.\5\ However, periods of financial excesses, for example as reflected in episodes of rapid asset price appreciation or credit growth not well supported by underlying economic fundamentals, are often followed by above-normal losses that leave banking organizations and other financial institutions undercapitalized. Therefore, the Board would most likely begin to increase the CCyB above zero in those circumstances when systemic vulnerabilities become meaningfully above normal and progressively raise the CCyB level if vulnerabilities become more severe. --------------------------------------------------------------------------- \5\ See, Federal Reserve Board Approves Final Rule Requiring The Largest, Most Systemically Important U.S. Bank Holding Companies To Further Strengthen Their Capital Positions (July 20, 2015), available at http://www.federalreserve.gov. --------------------------------------------------------------------------- (b) The CCyB is expected to help provide additional resilience for advanced approaches institutions, and by extension the broader financial system, against elevated vulnerabilities primarily in two ways. First, advanced approaches institutions will likely hold more capital to avoid limitations on capital distributions and discretionary bonus payments resulting from implementation of the CCyB. Strengthening their capital positions when financial conditions are accommodative would increase the capacity of advanced approaches institutions to absorb outsized losses during a future significant economic downturn or period of financial instability, thus making them more resilient. (c) The second and related goal of the CCyB is to promote a more sustainable supply of credit over the economic cycle. During a credit cycle downturn, better-capitalized institutions have been shown to be more likely than weaker institutions to have continued access to funding. Better-capitalized institutions also are less likely to take actions that lead to broader financial-sector distress and its associated macroeconomic costs, such as large-scale sales of assets at prices below their fundamental value and sharp contractions in credit supply.\6\ Therefore, it is likely that as a result of the CCyB having been put into place during the preceding period of rapid credit creation, advanced approaches institutions would be better positioned to continue their important intermediary functions during a subsequent economic contraction. A timely and credible reduction in the CCyB requirement during a period of high credit losses could reinforce those beneficial effects of a higher base level of capital, because it would permit advanced approaches institutions either to realize loan losses promptly and remove them from their balance sheets or to expand their balance sheets, for example by continuing to lend to creditworthy borrowers. --------------------------------------------------------------------------- \6\ For additional background on the relationship between financial distress and economic outcomes, see Carmen Reinhart and Kenneth Rogoff (2009), This Time is Different. Princeton University Press; [Ograve]scar Jord[agrave] & Moritz Schularick & Alan M Taylor (2011), ``Financial Crises, Credit Booms, and External Imbalances: 140 Years of Lessons,'' IMF Economic Review, Palgrave Macmillan, vol. 59(2), pages 340-378; and Bank for International Settlements (2010), ``Assessing the Long-Run Economic Impact of Higher Capital and Liquidity Requirements.'' --------------------------------------------------------------------------- (d) During a period of cyclically increasing vulnerabilities, advanced approaches institutions might react to an increase in the CCyB by raising lending standards, otherwise reducing their risk exposure, augmenting their capital, or some combination of those actions. They may choose to raise capital by taking actions that would increase net income, reducing capital distributions such as share repurchases or dividends, or issuing new equity. In this regard, an increase in the CCyB would not prevent advanced approaches institutions from maintaining their important role as credit intermediaries, but would reduce the likelihood that banking organizations with insufficient capital would foster unsustainable credit growth or engage in imprudent risk taking. The specific combination of adjustments and the relative size of each adjustment will depend in part on the initial capital positions of advanced approaches institutions, the cost of debt and equity financing, and the earnings opportunities presented by the economic situation at the time.\7\ --------------------------------------------------------------------------- \7\ For estimates of the size of certain adjustments, see Samuel G. Hanson, Anil K. Kashyap, and Jeremy C. Stein (2011), ``A Macroprudential Approach to Financial Regulation,'' Journal of Economic Perspectives 25(1), pp. 3-28; Skander J. Van den Heuvel (2008), ``The Welfare Cost of Bank Capital Requirements.'' Journal of Monetary Economics 55, pp. 298- 320. --------------------------------------------------------------------------- [[Page 658]] 4. The Framework for Setting the U.S. CCyB (a) The Board regularly monitors and assesses threats to financial stability by synthesizing information from a comprehensive set of financial-sector and macroeconomic indicators, supervisory information, surveys, and other interactions with market participants.\8\ In forming its view about the appropriate size of the U.S. CCyB, the Board will consider a number of financial system vulnerabilities, including but not limited to, asset valuation pressures and risk appetite, leverage in the nonfinancial sector, leverage in the financial sector, and maturity and liquidity transformation in the financial sector. The decision will reflect the implications of the assessment of overall financial system vulnerabilities as well as any concerns related to one or more classes of vulnerabilities. The specific combination of vulnerabilities is important because an adverse shock to one class of vulnerabilities could be more likely than another to exacerbate existing pressures in other parts of the economy or financial system. --------------------------------------------------------------------------- \8\ Tobias Adrian, Daniel Covitz, and Nellie Liang (2014), ``Financial Stability Monitoring.'' Finance and Economics Discussion Series 2013-021. Washington: Board of Governors of the Federal Reserve System, http://www.federalreserve.gov/pubs/feds/2013/201321/ 201321pap.pdf. --------------------------------------------------------------------------- (b) The Board intends to monitor a wide range of financial and macroeconomic quantitative indicators including, but not limited to, measures of relative credit and liquidity expansion or contraction, a variety of asset prices, funding spreads, credit condition surveys, indices based on credit default swap spreads, option implied volatilities, and measures of systemic risk.\9\ In addition, empirical models that translate a manageable set of quantitative indicators of financial and economic performance into potential settings for the CCyB, when used as part of a comprehensive judgmental assessment of all available information, can be a useful input to the Board's deliberations. Such models may include, but are not limited to, those that rely on small sets of indicators--such as the nonfinancial credit- to-GDP ratio, its growth rate, and combinations of the credit-to-GDP ratio with trends in the prices of residential and commercial real estate--which some academic research has shown to be useful in identifying periods of financial excess followed by a period of crisis on a cross-country basis.\10\ Such models may also include those that consider larger sets of indicators, which have the advantage of representing conditions in all key sectors of the economy, especially those specific to risk-taking, performance, and the financial condition of large banks.\11\ --------------------------------------------------------------------------- \9\ See 12 CFR 217.11(b)(2)(iv). \10\ See, e.g., Jorda, Oscar, Moritz Schularick and Alan Taylor, 2013. ``When Credit Bites Back: Leverage, Business Cycles and Crises,'' Journal of Money, Credit, and Banking, 45(2), pp. 3-28, and Drehmann, Mathias, Claudio Borio, and Kostas Tsatsaronis, 2012. ``Characterizing the Financial Cycle: Don't Lose Sight of the Medium Term!'' BIS Working Papers 380, Bank for International Settlements. Jorda, Oscar, Moritz Schularick and Alan Taylor, 2015. ``Leveraged Bubbles,'' Center for Economic Policy Research Discussion Paper No. DP10781. BCBS (2010), ``Guidance for National Authorities Operating the Countercyclical Capital Buffer,'' BIS. \11\ See, e.g., Aikman, David, Michael T. Kiley, Seung Jung Lee, Michael G. Palumbo, and Missaka N. Warusawitharana (2015), ``Mapping Heat in the U.S. Financial System,'' Finance and Economics Discussion Series 2015-059. Washington: Board of Governors of the Federal Reserve System, http://dx.doi.org/10.17016/FEDS.2015.059 (providing an example of the range of indicators used and type of analysis possible). --------------------------------------------------------------------------- (c) However, no single indictor or fixed set of indicators can adequately capture all the vulnerabilities in the U.S. economy and financial system. Moreover, adjustments in the CCyB that were tightly linked to a specific model or set of models could be imprecise due to the relatively short period that some indicators are available, the limited number of past crises against which the models can be calibrated, and limited experience with the CCyB as a macroprudential tool. As a result, the types of indicators and models considered in assessments of the appropriate level of the CCyB are likely to change over time based on advances in research and the experience of the Board with this new macroprudential tool. (d) The Board will determine the appropriate level of the CCyB for U.S.-based credit exposures based on its analysis of the above factors. Generally, a zero percent U.S. CCyB amount would reflect an assessment that U.S. economic and financial conditions are broadly consistent with a financial system in which levels of system-wide vulnerabilities are within or near their normal range of values. The Board could increase the CCyB as vulnerabilities build. A 2.5 percent CCyB amount for U.S.- based credit exposures, which is the maximum level under the Board's rule, would reflect an assessment that the U.S. financial sector is experiencing a period of significantly elevated or rapidly [[Page 659]] increasing system-wide vulnerabilities. Importantly, as a macroprudential policy tool, the CCyB will be activated and deactivated based on broad developments and trends in the U.S. financial system, rather than the activities of any individual banking organization. (e) Similarly, the Board would remove or reduce the CCyB when the conditions that led to its activation abate or lessen. Additionally, the Board would remove or reduce the CCyB when release of CCyB capital would promote financial stability. Indeed, for the CCyB to be most effective, the CCyB should be deactivated or reduced in a timely manner. Deactivating the CCyB in a timely manner could, for example, promote the prompt realization of loan losses by advanced approaches institutions and the removal of such loans from their balance sheets and would reduce the likelihood that advanced approaches institutions would significantly pare their risk-weighted assets in order to maintain their capital ratios during a downturn. (f) The pace and magnitude of changes in the CCyB will depend importantly on the underlying conditions in the financial sector and the economy as well as the desired effects of the proposed change in the CCyB. If vulnerabilities are rising gradually, then incremental increases in the level of the CCyB may be appropriate. Incremental increases would allow banks to augment their capital primarily through retained earnings and allow policymakers additional time to assess the effects of the policy change before making subsequent adjustments. However, if vulnerabilities in the financial system are building rapidly, then larger or more frequent adjustments may be necessary to increase loss-absorbing capacity sooner and potentially to mitigate the rise in vulnerabilities. (g) The Board will also consider whether the CCyB is the most appropriate of its available policy instruments to address the financial system vulnerabilities highlighted by the framework's judgmental assessments and empirical models. The CCyB primarily is intended to address cyclical vulnerabilities, rather than structural vulnerabilities that do not vary significantly over time. Structural vulnerabilities are better addressed through targeted reforms or permanent increases in financial system resilience. Two central factors for the Board to consider are whether advanced approaches institutions are exposed-- either directly or indirectly--to the vulnerabilities identified in the comprehensive judgmental assessment or by the quantitative indicators that suggest activation of the CCyB and whether advanced approaches institutions are contributing--either directly or indirectly--to these highlighted vulnerabilities. (h) In setting the CCyB for advanced approaches institutions that it supervises, the Board plans to consult with the OCC and FDIC on their analyses of financial system vulnerabilities and on the extent to which advanced approaches banking organizations are either exposed to or contributing to these vulnerabilities. 5. Communication of the U.S. CCyB With the Public (a) The Board expects to consider at least once per year the applicable level of the U.S. CCyB. The Board will review financial conditions regularly throughout the year and may adjust the CCyB more frequently as a result of those monitoring activities. (b) Further, the Board will continue to communicate with the public in other formats regarding its assessment of U.S. financial stability, including financial system vulnerabilities. In the event that the Board considered that a change in the CCyB were appropriate, it would, in proposing the change, include a discussion of the reasons for the proposed action as determined by the particular circumstances. In addition, the Board's biannual Monetary Policy Report to Congress, usually published in February and July, will continue to contain a section that reports on developments pertaining to the stability of the U.S. financial system.\12\ That portion of the report will be an important vehicle for updating the public on how the Board's current assessment of financial system vulnerabilities bears on the setting of the CCyB. --------------------------------------------------------------------------- \12\ For the most recent discussion in this format, see box titled ``Developments Related to Financial Stability'' in Board of Governors of the Federal Reserve System, Monetary Policy Report to Congress, June 2016, pp. 20-21. --------------------------------------------------------------------------- 6. Monitoring the Effects of the U.S. CCyB (a) The effects of the U.S. CCyB ultimately will depend on the level at which it is set, the size and nature of any adjustments in the level, and the timeliness with which it is increased or decreased. The extent to which the CCyB may affect vulnerabilities in the broader financial system depends upon a complex set of interactions between required capital levels at the largest banking organizations and the economy and financial markets. In addition to the direct effects, the secondary economic effects could be amplified if financial markets extract a signal from the announcement of a change in the CCyB about subsequent actions that might be taken by the Board. Moreover, financial market participants might react by updating their expectations about future asset prices [[Page 660]] in specific markets or broader economic activity based on the concerns expressed by the regulators in communications announcing a policy change. (b) The Board will monitor and analyze adjustments by banking organizations and other financial institutions to the CCyB: whether a change in the CCyB leads to observed changes in risk-based capital ratios at advanced approaches institutions, as well as whether those adjustments are achieved passively through retained earnings, or actively through changes in capital distributions or in risk-weighted assets. Other factors to be monitored include the extent to which loan growth and interest rate spreads on loans made by affected banking organizations change relative to loan growth and loan spreads at banking organizations that are not subject to the buffer. Another consideration in setting the CCyB and other macroprudential tools is the extent to which the adjustments by advanced approaches institutions to higher capital buffers lead to migration of credit market activity outside of those banking organizations, especially to the nonbank financial sector. Depending on the amount of migration, which institutions are affected by it, and the remaining exposures of advanced approaches institutions, those adjustments could cause the Board to favor either a higher or a lower value of the CCyB. (c) The Board will also monitor information regarding the levels of and changes in the CCyB in other countries. The Basel Committee on Banking Supervision is expected to maintain this information for member countries in a publicly available form on its Web site.\13\ Using that data in conjunction with supervisory and publicly available datasets, the Board will be able to draw not only upon the experience of the United States but also that of other countries to refine estimates of the effects of changes in the CCyB. --------------------------------------------------------------------------- \13\ BIS, Countercyclical capital buffer (CCyB), www.bis.org/bcbs/ ccyb/index.htm. [81 FR 63686, Sept. 16, 2016] PART 218_EXCEPTIONS FOR BANKS FROM THE DEFINITION OF BROKER IN THE SECURITIES EXCHANGE ACT OF 1934 (REGULATION R)--Table of Contents Sec. 218.100 Definition. 218.700 Defined terms relating to the networking exception from the definition of ``broker.'' 218.701 Exemption from the definition of ``broker'' for certain institutional referrals. 218.721 Defined terms relating to the trust and fiduciary activities exception from the definition of ``broker.'' 218.722 Exemption allowing banks to calculate trust and fiduciary compensation on a bank-wide basis. 218.723 Exemptions for special accounts, transferred accounts, foreign branches and a de minimis number of accounts. 218.740 Defined terms relating to the sweep accounts exception from the definition of ``broker.'' 218.741 Exemption for banks effecting transactions in money market funds. 218.760 Exemption from definition of ``broker'' for banks accepting orders to effect transactions in securities from or on behalf of custody accounts. 218.771 Exemption from the definition of ``broker'' for banks effecting transactions in securities issued pursuant to Regulation S. 218.772 Exemption from the definition of ``broker'' for banks engaging in securities lending transactions. 218.775 Exemption from the definition of ``broker'' for banks effecting certain excepted or exempted transactions in investment company securities. 218.776 Exemption from the definition of ``broker'' for banks effecting certain excepted or exempted transactions in a company's securities for its employee benefit plans. 218.780 Exemption for banks from liability under section 29 of the Securities Exchange Act of 1934. 218.781 Exemption from the definition of ``broker'' for banks for a limited period of time. Authority: 15 U.S.C. 78c(a)(4)(F). Source: Reg. R, 72 FR 56554, Oct. 3, 2007, unless otherwise noted. Sec. 218.100 Definition. For purposes of this part the following definition shall apply: Act means the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Sec. 218.700 Defined terms relating to the networking exception from the definition of ``broker.'' When used with respect to the Third Party Brokerage Arrangements (``Networking'') Exception from the definition of the term ``broker'' in section 3(a)(4)(B)(i) of the Act (15 U.S.C. 78c(a)(4)(B)(i)) in the context of transactions with a customer, the following terms shall have the meaning provided: [[Page 661]] (a) Contingent on whether the referral results in a transaction means dependent on whether the referral results in a purchase or sale of a security; whether an account is opened with a broker or dealer; whether the referral results in a transaction involving a particular type of security; or whether it results in multiple securities transactions; provided, however, that a referral fee may be contingent on whether a customer: (1) Contacts or keeps an appointment with a broker or dealer as a result of the referral; or (2) Meets any objective, base-line qualification criteria established by the bank or broker or dealer for customer referrals, including such criteria as minimum assets, net worth, income, or marginal federal or state income tax rate, or any requirement for citizenship or residency that the broker or dealer, or the bank, may have established generally for referrals for securities brokerage accounts. (b)(1) Incentive compensation means compensation that is intended to encourage a bank employee to refer customers to a broker or dealer or give a bank employee an interest in the success of a securities transaction at a broker or dealer. The term does not include compensation paid by a bank under a bonus or similar plan that is: (i) Paid on a discretionary basis; and (ii) Based on multiple factors or variables and: (A) Those factors or variables include multiple significant factors or variables that are not related to securities transactions at the broker or dealer; (B) A referral made by the employee is not a factor or variable in determining the employee's compensation under the plan; and (C) The employee's compensation under the plan is not determined by reference to referrals made by any other person. (2) Nothing in this paragraph (b) shall be construed to prevent a bank from compensating an officer, director or employee under a bonus or similar plan on the basis of any measure of the overall profitability or revenue of: (i) The bank, either on a stand-alone or consolidated basis; (ii) Any affiliate of the bank (other than a broker or dealer), or any operating unit of the bank or an affiliate (other than a broker or dealer), if the affiliate or operating unit does not over time predominately engage in the business of making referrals to a broker or dealer; or (iii) A broker or dealer if: (A) Such measure of overall profitability or revenue is only one of multiple factors or variables used to determine the compensation of the officer, director or employee; (B) The factors or variables used to determine the compensation of the officer, director or employee include multiple significant factors or variables that are not related to the profitability or revenue of the broker or dealer; (C) A referral made by the employee is not a factor or variable in determining the employee's compensation under the plan; and (D) The employee's compensation under the plan is not determined by reference to referrals made by any other person. (c) Nominal one-time cash fee of a fixed dollar amount means a cash payment for a referral, to a bank employee who was personally involved in referring the customer to the broker or dealer, in an amount that meets any of the following standards: (1) The payment does not exceed: (i) Twice the average of the minimum and maximum hourly wage established by the bank for the current or prior year for the job family that includes the employee; or (ii) 1/1000th of the average of the minimum and maximum annual base salary established by the bank for the current or prior year for the job family that includes the employee; or (2) The payment does not exceed twice the employee's actual base hourly wage or 1/1000th of the employee's actual annual base salary; or (3) The payment does not exceed twenty-five dollars ($25), as adjusted in accordance with paragraph (f) of this section. (d) Job family means a group of jobs or positions involving similar responsibilities, or requiring similar skills, education or training, that a bank, or a separate unit, branch or department of a bank, has established and uses in the [[Page 662]] ordinary course of its business to distinguish among its employees for purposes of hiring, promotion, and compensation. (e) Referral means the action taken by one or more bank employees to direct a customer of the bank to a broker or dealer for the purchase or sale of securities for the customer's account. (f) Inflation adjustment--(1) In general. On April 1, 2012, and on the 1st day of each subsequent 5-year period, the dollar amount referred to in paragraph (c)(3) of this section shall be adjusted by: (i) Dividing the annual value of the Employment Cost Index For Wages and Salaries, Private Industry Workers (or any successor index thereto), as published by the Bureau of Labor Statistics, for the calendar year preceding the calendar year in which the adjustment is being made by the annual value of such index (or successor) for the calendar year ending December 31, 2006; and (ii) Multiplying the dollar amount by the quotient obtained in paragraph (f)(1)(i) of this section. (2) Rounding. If the adjusted dollar amount determined under paragraph (f)(1) of this section for any period is not a multiple of $1, the amount so determined shall be rounded to the nearest multiple of $1. Sec. 218.701 Exemption from the definition of ``broker'' for certain institutional referrals. (a) General. A bank that meets the requirements for the exception from the definition of ``broker'' under section 3(a)(4)(B)(i) of the Act (15 U.S.C. 78c(a)(4)(B)(i)), other than section 3(a)(4)(B)(i)(VI) of the Act (15 U.S.C. 78c(a)(4)(B)(i)(VI)), is exempt from the conditions of section 3(a)(4)(B)(i)(VI) of the Act solely to the extent that a bank employee receives a referral fee for referring a high net worth customer or institutional customer to a broker or dealer with which the bank has a contractual or other written arrangement of the type specified in section 3(a)(4)(B)(i) of the Act, if: (1) Bank employee. (i) The bank employee is: (A) Not registered or approved, or otherwise required to be registered or approved, in accordance with the qualification standards established by the rules of any self-regulatory organization; (B) Predominantly engaged in banking activities other than making referrals to a broker or dealer; and (C) Not subject to statutory disqualification, as that term is defined in section 3(a)(39) of the Act (15 U.S.C. 78c(a)(39)), except subparagraph (E) of that section; and (ii) The high net worth customer or institutional customer is encountered by the bank employee in the ordinary course of the employee's assigned duties for the bank. (2) Bank determinations and obligations--(i) Disclosures. The bank provides the high net worth customer or institutional customer the information set forth in paragraph (b) of this section (A) In writing prior to or at the time of the referral; or (B) Orally prior to or at the time of the referral and (1) The bank provides such information to the customer in writing within 3 business days of the date on which the bank employee refers the customer to the broker or dealer; or (2) The written agreement between the bank and the broker or dealer provides for the broker or dealer to provide such information to the customer in writing in accordance with paragraph (a)(3)(i) of this section. (ii) Customer qualification. (A) In the case of a customer that is a not a natural person, the bank has a reasonable basis to believe that the customer is an institutional customer before the referral fee is paid to the bank employee. (B) In the case of a customer that is a natural person, the bank has a reasonable basis to believe that the customer is a high net worth customer prior to or at the time of the referral. (iii) Employee qualification information. Before a referral fee is paid to a bank employee under this section, the bank provides the broker or dealer the name of the employee and such other identifying information that may be necessary for the broker or dealer to determine whether the bank employee is registered or approved, or otherwise required to be registered or approved, in accordance with the qualification [[Page 663]] standards established by the rules of any self-regulatory organization or is subject to statutory disqualification, as that term is defined in section 3(a)(39) of the Act (15 U.S.C. 78c(a)(39)), except subparagraph (E) of that section. (iv) Good faith compliance and corrections. A bank that acts in good faith and that has reasonable policies and procedures in place to comply with the requirements of this section shall not be considered a ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) solely because the bank fails to comply with the provisions of this paragraph (a)(2) with respect to a particular customer if the bank: (A) Takes reasonable and prompt steps to remedy the error (such as, for example, by promptly making the required determination or promptly providing the broker or dealer the required information); and (B) Makes reasonable efforts to reclaim the portion of the referral fee paid to the bank employee for the referral that does not, following any required remedial action, meet the requirements of this section and that exceeds the amount otherwise permitted under section 3(a)(4)(B)(i)(VI) of the Act (15 U.S.C. 78c(a)(4)(B)(i)(VI)) and Sec. 218.700. (3) Provisions of written agreement. The written agreement between the bank and the broker or dealer shall require that: (i) Broker-dealer written disclosures. If, pursuant to paragraph (a)(2)(i)(B)(2) of this section, the broker or dealer is to provide the customer in writing the disclosures set forth in paragraph (b) of this section, the broker or dealer provides such information to the customer in writing: (A) Prior to or at the time the customer begins the process of opening an account at the broker or dealer, if the customer does not have an account with the broker or dealer; or (B) Prior to the time the customer places an order for a securities transaction with the broker or dealer as a result of the referral, if the customer already has an account at the broker or dealer. (ii) Customer and employee qualifications. Before the referral fee is paid to the bank employee: (A) The broker or dealer determine that the bank employee is not subject to statutory disqualification, as that term is defined in section 3(a)(39) of the Act (15 U.S.C. 78c(a)(39)), except subparagraph (E) of that section; and (B) The broker or dealer has a reasonable basis to believe that the customer is a high net worth customer or an institutional customer. (iii) Suitability or sophistication determination by broker or dealer--(A) Contingent referral fees. In any case in which payment of the referral fee is contingent on completion of a securities transaction at the broker or dealer, the broker or dealer, before such securities transaction is conducted, perform a suitability analysis of the securities transaction in accordance with the rules of the broker or dealer's applicable self-regulatory organization as if the broker or dealer had recommended the securities transaction. (B) Non-contingent referral fees. In any case in which payment of the referral fee is not contingent on the completion of a securities transaction at the broker or dealer, the broker or dealer, before the referral fee is paid, either: (1) Determine that the customer: (i) Has the capability to evaluate investment risk and make independent decisions; and (ii) Is exercising independent judgment based on the customer's own independent assessment of the opportunities and risks presented by a potential investment, market factors and other investment considerations; or (2) Perform a suitability analysis of all securities transactions requested by the customer contemporaneously with the referral in accordance with the rules of the broker or dealer's applicable self- regulatory organization as if the broker or dealer had recommended the securities transaction. (iv) Notice to the customer. The broker or dealer inform the customer if the broker or dealer determines that the customer or the securities transaction(s) to be conducted by the customer does not meet the applicable standard set forth in paragraph (a)(3)(iii) of this section. [[Page 664]] (v) Notice to the bank. The broker or dealer promptly inform the bank if the broker or dealer determines that: (A) The customer is not a high net worth customer or institutional customer, as applicable; or (B) The bank employee is subject to statutory disqualification, as that term is defined in section 3(a)(39) of the Act (15 U.S.C. 78c(a)(39)), except subparagraph (E) of that section. (b) Required disclosures. The disclosures provided to the high net worth customer or institutional customer pursuant to paragraphs (a)(2)(i) or (a)(3)(i) of this section shall clearly and conspicuously disclose: (1) The name of the broker or dealer; and (2) That the bank employee participates in an incentive compensation program under which the bank employee may receive a fee of more than a nominal amount for referring the customer to the broker or dealer and payment of this fee may be contingent on whether the referral results in a transaction with the broker or dealer. (c) Receipt of other compensation. Nothing in this section prevents or prohibits a bank from paying or a bank employee from receiving any type of compensation that would not be considered incentive compensation under Sec. 218.700(b)(1) or that is described in Sec. 218.700(b)(2). (d) Definitions. When used in this section: (1) High net worth customer--(i) General. High net worth customer means: (A) Any natural person who, either individually or jointly with his or her spouse, has at least $5 million in net worth excluding the primary residence and associated liabilities of the person and, if applicable, his or her spouse; and (B) Any revocable, inter vivos or living trust the settlor of which is a natural person who, either individually or jointly with his or her spouse, meets the net worth standard set forth in paragraph (d)(1)(i)(A) of this section. (ii) Individual and spousal assets. In determining whether any person is a high net worth customer, there may be included in the assets of such person (A) Any assets held individually; (B) If the person is acting jointly with his or her spouse, any assets of the person's spouse (whether or not such assets are held jointly); and (C) If the person is not acting jointly with his or her spouse, fifty percent of any assets held jointly with such person's spouse and any assets in which such person shares with such person's spouse a community property or similar shared ownership interest. (2) Institutional customer means any corporation, partnership, limited liability company, trust or other non-natural person that has, or is controlled by a non-natural person that has, at least: (i) $10 million in investments; or (ii) $20 million in revenues; or (iii) $15 million in revenues if the bank employee refers the customer to the broker or dealer for investment banking services. (3) Investment banking services includes, without limitation, acting as an underwriter in an offering for an issuer; acting as a financial adviser in a merger, acquisition, tender offer or similar transaction; providing venture capital, equity lines of credit, private investment- private equity transactions or similar investments; serving as placement agent for an issuer; and engaging in similar activities. (4) Referral fee means a fee (paid in one or more installments) for the referral of a customer to a broker or dealer that is: (i) A predetermined dollar amount, or a dollar amount determined in accordance with a predetermined formula (such as a fixed percentage of the dollar amount of total assets placed in an account with the broker or dealer), that does not vary based on: (A) The revenue generated by or the profitability of securities transactions conducted by the customer with the broker or dealer; or (B) The quantity, price, or identity of securities transactions conducted over time by the customer with the broker or dealer; or (C) The number of customer referrals made; or (ii) A dollar amount based on a fixed percentage of the revenues received by the broker or dealer for investment [[Page 665]] banking services provided to the customer. (e) Inflation adjustments--(1) In general. On April 1, 2012, and on the 1st day of each subsequent 5-year period, each dollar amount in paragraphs (d)(1) and (d)(2) of this section shall be adjusted by: (i) Dividing the annual value of the Personal Consumption Expenditures Chain-Type Price Index (or any successor index thereto), as published by the Department of Commerce, for the calendar year preceding the calendar year in which the adjustment is being made by the annual value of such index (or successor) for the calendar year ending December 31, 2006; and (ii) Multiplying the dollar amount by the quotient obtained in paragraph (e)(1)(i) of this section. (2) Rounding. If the adjusted dollar amount determined under paragraph (e)(1) of this section for any period is not a multiple of $100,000, the amount so determined shall be rounded to the nearest multiple of $100,000. [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 73 FR 20780, Apr. 17, 2008] Sec. 218.721 Defined terms relating to the trust and fiduciary activities exception from the definition of ``broker.'' (a) Defined terms for chiefly compensated test. For purposes of this part and section 3(a)(4)(B)(ii) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)), the following terms shall have the meaning provided: (1) Chiefly compensated--account-by-account test. Chiefly compensated shall mean the relationship-total compensation percentage for each trust or fiduciary account of the bank is greater than 50 percent. (2) The relationship-total compensation percentage for a trust or fiduciary account shall be the mean of the yearly compensation percentage for the account for the immediately preceding year and the yearly compensation percentage for the account for the year immediately preceding that year. (3) The yearly compensation percentage for a trust or fiduciary account shall be (i) Equal to the relationship compensation attributable to the trust or fiduciary account during the year divided by the total compensation attributable to the trust or fiduciary account during that year, with the quotient expressed as a percentage; and (ii) Calculated within 60 days of the end of the year. (4) Relationship compensation means any compensation a bank receives attributable to a trust or fiduciary account that consists of: (i) An administration fee, including, without limitation, a fee paid-- (A) For personal services, tax preparation, or real estate settlement services; (B) For disbursing funds from, or for recording receipt of payments to, a trust or fiduciary account; (C) In connection with securities lending or borrowing transactions; (D) For custody services; or (E) In connection with an investment in shares of an investment company for personal service, the maintenance of shareholder accounts or any service described in paragraph (a)(4)(iii)(C) of this section; (ii) An annual fee (payable on a monthly, quarterly or other basis), including, without limitation, a fee paid for assessing investment performance or for reviewing compliance with applicable investment guidelines or restrictions; (iii) A fee based on a percentage of assets under management, including, without limitation, a fee paid (A) Pursuant to a plan under Sec. 270.12b-1; (B) In connection with an investment in shares of an investment company for personal service or the maintenance of shareholder accounts; (C) Based on a percentage of assets under management for any of the following services-- (1) Providing transfer agent or sub-transfer agent services for beneficial owners of investment company shares; (2) Aggregating and processing purchase and redemption orders for investment company shares; (3) Providing beneficial owners with account statements showing their purchases, sales, and positions in the investment company; (4) Processing dividend payments for the investment company; (5) Providing sub-accounting services to the investment company for shares held beneficially; [[Page 666]] (6) Forwarding communications from the investment company to the beneficial owners, including proxies, shareholder reports, dividend and tax notices, and updated prospectuses; or (7) Receiving, tabulating, and transmitting proxies executed by beneficial owners of investment company shares; (D) Based on the financial performance of the assets in an account; or (E) For the types of services described in paragraph (a)(4)(i)(C) or (D) of this section if paid based on a percentage of assets under management; (iv) A flat or capped per order processing fee, paid by or on behalf of a customer or beneficiary, that is equal to not more than the cost incurred by the bank in connection with executing securities transactions for trust or fiduciary accounts; or (v) Any combination of such fees. (5) Trust or fiduciary account means an account for which the bank acts in a trustee or fiduciary capacity as defined in section 3(a)(4)(D) of the Act (15 U.S.C. 78c(a)(4)(D)). (6) Year means a calendar year, or fiscal year consistently used by the bank for recordkeeping and reporting purposes. (b) Revenues derived from transactions conducted under other exceptions or exemptions. For purposes of calculating the yearly compensation percentage for a trust or fiduciary account, a bank may at its election exclude the compensation associated with any securities transaction conducted in accordance with the exceptions in section 3(a)(4)(B)(i) or sections 3(a)(4)(B)(iii)-(xi) of the Act (15 U.S.C. 78c(a)(4)(B)(i) or 78c(a)(4)(B)(iii)-(xi)) and the rules issued thereunder, including any exemption related to such exceptions jointly adopted by the Commission and the Board, provided that if the bank elects to exclude such compensation, the bank must exclude the compensation from both the relationship compensation (if applicable) and total compensation for the account. (c) Advertising restrictions-- (1) In general. A bank complies with the advertising restriction in section 3(a)(4)(B)(ii)(II) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)(II)) if advertisements by or on behalf of the bank do not advertise-- (i) That the bank provides securities brokerage services for trust or fiduciary accounts except as part of advertising the bank's broader trust or fiduciary services; and (ii) The securities brokerage services provided by the bank to trust or fiduciary accounts more prominently than the other aspects of the trust or fiduciary services provided to such accounts. (2) Advertisement. For purposes of this section, the term advertisement has the same meaning as in Sec. 218.760(h)(2). [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 73 FR 20780, Apr. 17, 2008] Sec. 218.722 Exemption allowing banks to calculate trust and fiduciary compensation on a bank-wide basis. (a) General. A bank is exempt from meeting the ``chiefly compensated'' condition in section 3(a)(4)(B)(ii)(I) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)(I)) to the extent that it effects transactions in securities for any account in a trustee or fiduciary capacity within the scope of section 3(a)(4)(D) of the Act (15 U.S.C. 78c(a)(4)(D)) if: (1) The bank meets the other conditions for the exception from the definition of the term ``broker'' under sections 3(a)(4)(B)(ii) and 3(a)(4)(C) of the Act (15 U.S.C. 78c(a)(4)(B)(ii) and 15 U.S.C. 78c(a)(4)(C)), including the advertising restrictions in section 3(a)(4)(B)(ii)(II) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)(II) as implemented by Sec. 218.721(c); and (2) The aggregate relationship-total compensation percentage for the bank's trust and fiduciary business is at least 70 percent. (b) Aggregate relationship-total compensation percentage. For purposes of this section, the aggregate relationship-total compensation percentage for a bank's trust and fiduciary business shall be the mean of the bank's yearly bank-wide compensation percentage for the immediately preceding year and the bank's yearly bank-wide compensation percentage for the year immediately preceding that year. (c) Yearly bank-wide compensation percentage. For purposes of this section, a bank's yearly bank-wide compensation percentage for a year shall be [[Page 667]] (1) Equal to the relationship compensation attributable to the bank's trust and fiduciary business as a whole during the year divided by the total compensation attributable to the bank's trust and fiduciary business as a whole during that year, with the quotient expressed as a percentage; and (2) Calculated within 60 days of the end of the year. (d) Revenues derived from transactions conducted under other exceptions or exemptions. For purposes of calculating the yearly compensation percentage for a trust or fiduciary account, a bank may at its election exclude the compensation associated with any securities transaction conducted in accordance with the exceptions in section 3(a)(4)(B)(i) or sections 3(a)(4)(B)(iii)-(xi) of the Act (15 U.S.C. 78c(a)(4)(B)(i) or 78c(a)(4)(B)(iii)-(xi)) and the rules issued thereunder, including any exemption related to such sections jointly adopted by the Commission and the Board, provided that if the bank elects to exclude such compensation, the bank must exclude the compensation from both the relationship compensation (if applicable) and total compensation of the bank. Sec. 218.723 Exemptions for special accounts, transferred accounts, foreign branches and a de minimis number of accounts. (a) Short-term accounts. A bank may, in determining its compliance with the chiefly compensated test in Sec. 218.721(a)(1) or Sec. 218.722(a)(2), exclude any trust or fiduciary account that had been open for a period of less than 3 months during the relevant year. (b) Accounts acquired as part of a business combination or asset acquisition. For purposes of determining compliance with the chiefly compensated test in Sec. 218.721(a)(1) or Sec. 218.722(a)(2), any trust or fiduciary account that a bank acquired from another person as part of a merger, consolidation, acquisition, purchase of assets or similar transaction may be excluded by the bank for 12 months after the date the bank acquired the account from the other person. (c) Non-shell foreign branches--(1) Exemption. For purposes of determining compliance with the chiefly compensated test in Sec. 218.722(a)(2), a bank may exclude the trust or fiduciary accounts held at a non-shell foreign branch of the bank if the bank has reasonable cause to believe that trust or fiduciary accounts of the foreign branch held by or for the benefit of a U.S. person as defined in 17 CFR 230.902(k) constitute less than 10 percent of the total number of trust or fiduciary accounts of the foreign branch. (2) Rules of construction. Solely for purposes of this paragraph (c), a bank will be deemed to have reasonable cause to believe that a trust or fiduciary account of a foreign branch of the bank is not held by or for the benefit of a U.S. person if (i) The principal mailing address maintained and used by the foreign branch for the accountholder(s) and beneficiary(ies) of the account is not in the United States; or (ii) The records of the foreign branch indicate that the accountholder(s) and beneficiary(ies) of the account is not a U.S. person as defined in 17 CFR 230.902(k). (3) Non-shell foreign branch. Solely for purposes of this paragraph (c), a non-shell foreign branch of a bank means a branch of the bank (i) That is located outside the United States and provides banking services to residents of the foreign jurisdiction in which the branch is located; and (ii) For which the decisions relating to day-to-day operations and business of the branch are made at that branch and are not made by an office of the bank located in the United States. (d) Accounts transferred to a broker or dealer or other unaffiliated entity. Notwithstanding section 3(a)(4)(B)(ii)(I) of the Act (15 U.S.C. 78c(a)(4)(B)(ii)(I)) and Sec. 218.721(a)(1) of this part, a bank operating under Sec. 218.721(a)(1) shall not be considered a broker for purposes of section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) solely because a trust or fiduciary account does not meet the chiefly compensated standard in Sec. 218.721(a)(1) if, within 3 months of the end of the year in which the account fails to meet such standard, the bank transfers the account or the securities held by or on behalf of the account to a broker or dealer registered under section 15 of [[Page 668]] the Act (15 U.S.C. 78o) or another entity that is not an affiliate of the bank and is not required to be registered as a broker or dealer. (e) De minimis exclusion. A bank may, in determining its compliance with the chiefly compensated test in Sec. 218.721(a)(1), exclude a trust or fiduciary account if: (1) The bank maintains records demonstrating that the securities transactions conducted by or on behalf of the account were undertaken by the bank in the exercise of its trust or fiduciary responsibilities with respect to the account; (2) The total number of accounts excluded by the bank under this paragraph (d) does not exceed the lesser of-- (i) 1 percent of the total number of trust or fiduciary accounts held by the bank, provided that if the number so obtained is less than 1 the amount shall be rounded up to 1; or (ii) 500; and (3) The bank did not rely on this paragraph (e) with respect to such account during the immediately preceding year. [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 73 FR 20780, Apr. 17, 2008] Sec. 218.740 Defined terms relating to the sweep accounts exception from the definition of ``broker.'' For purposes of section 3(a)(4)(B)(v) of the Act (15 U.S.C. 78c(a)(4)(B)(v)), the following terms shall have the meaning provided: (a) Deferred sales load has the same meaning as in 17 CFR 270.6c-10. (b) Money market fund means an open-end company registered under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) that is regulated as a money market fund pursuant to 17 CFR 270.2a-7. (c)(1) No-load, in the context of an investment company or the securities issued by an investment company, means, for securities of the class or series in which a bank effects transactions, that: (i) That class or series is not subject to a sales load or a deferred sales load; and (ii) Total charges against net assets of that class or series of the investment company's securities for sales or sales promotion expenses, for personal service, or for the maintenance of shareholder accounts do not exceed 0.25 of 1% of average net assets annually. (2) For purposes of this definition, charges for the following will not be considered charges against net assets of a class or series of an investment company's securities for sales or sales promotion expenses, for personal service, or for the maintenance of shareholder accounts: (i) Providing transfer agent or sub-transfer agent services for beneficial owners of investment company shares; (ii) Aggregating and processing purchase and redemption orders for investment company shares; (iii) Providing beneficial owners with account statements showing their purchases, sales, and positions in the investment company; (iv) Processing dividend payments for the investment company; (v) Providing sub-accounting services to the investment company for shares held beneficially; (vi) Forwarding communications from the investment company to the beneficial owners, including proxies, shareholder reports, dividend and tax notices, and updated prospectuses; or (vii) Receiving, tabulating, and transmitting proxies executed by beneficial owners of investment company shares. (d) Open-end company has the same meaning as in section 5(a)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-5(a)(1)). (e) Sales load has the same meaning as in section 2(a)(35) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(35)). Sec. 218.741 Exemption for banks effecting transactions in money market funds. (a) A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) to the extent that it effects transactions on behalf of a customer in securities issued by a money market fund, provided that: (1) The bank either [[Page 669]] (i) Provides the customer, directly or indirectly, any other product or service, the provision of which would not, in and of itself, require the bank to register as a broker or dealer under section 15(a) of the Act (15 U.S.C. 78o(a)); or (ii) Effects the transactions on behalf of another bank as part of a program for the investment or reinvestment of deposit funds of, or collected by, the other bank; and (2)(i) The class or series of securities is no-load; or (ii) If the class or series of securities is not no-load (A) The bank or, if applicable, the other bank described in paragraph (a)(1)(B) of this section provides the customer, not later than at the time the customer authorizes the securities transactions, a prospectus for the securities; and (B) The bank and, if applicable, the other bank described in paragraph (a)(1)(B) of this section do not characterize or refer to the class or series of securities as no-load. (b) Definitions. For purposes of this section: (1) Money market fund has the same meaning as in Sec. 218.740(b). (2) No-load has the same meaning as in Sec. 218.740(c). [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 3 FR 20780, Apr. 17, 2008] Sec. 218.760 Exemption from definition of ``broker'' for banks accepting orders to effect transactions in securities from or on behalf of custody accounts. (a) Employee benefit plan accounts and individual retirement accounts or similar accounts. A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) to the extent that, as part of its customary banking activities, the bank accepts orders to effect transactions in securities for an employee benefit plan account or an individual retirement account or similar account for which the bank acts as a custodian if: (1) Employee compensation restriction and additional conditions. The bank complies with the employee compensation restrictions in paragraph (c) of this section and the other conditions in paragraph (d) of this section; (2) Advertisements. Advertisements by or on behalf of the bank do not: (i) Advertise that the bank accepts orders for securities transactions for employee benefit plan accounts or individual retirement accounts or similar accounts, except as part of advertising the other custodial or safekeeping services the bank provides to these accounts; or (ii) Advertise that such accounts are securities brokerage accounts or that the bank's safekeeping and custody services substitute for a securities brokerage account; and (3) Advertisements and sales literature for individual retirement or similar accounts. Advertisements and sales literature issued by or on behalf of the bank do not describe the securities order-taking services provided by the bank to individual retirement accounts or similar accounts more prominently than the other aspects of the custody or safekeeping services provided by the bank to these accounts. (b) Accommodation trades for other custodial accounts. A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) to the extent that, as part of its customary banking activities, the bank accepts orders to effect transactions in securities for an account for which the bank acts as custodian other than an employee benefit plan account or an individual retirement account or similar account if: (1) Accommodation. The bank accepts orders to effect transactions in securities for the account only as an accommodation to the customer; (2) Employee compensation restriction and additional conditions. The bank complies with the employee compensation restrictions in paragraph (c) of this section and the other conditions in paragraph (d) of this section; (3) Bank fees. Any fee charged or received by the bank for effecting a securities transaction for the account does not vary based on: (i) Whether the bank accepted the order for the transaction; or (ii) The quantity or price of the securities to be bought or sold; [[Page 670]] (4) Advertisements. Advertisements by or on behalf of the bank do not state that the bank accepts orders for securities transactions for the account; (5) Sales literature. Sales literature issued by or on behalf of the bank: (i) Does not state that the bank accepts orders for securities transactions for the account except as part of describing the other custodial or safekeeping services the bank provides to the account; and (ii) Does not describe the securities order-taking services provided to the account more prominently than the other aspects of the custody or safekeeping services provided by the bank to the account; and (6) Investment advice and recommendations. The bank does not provide investment advice or research concerning securities to the account, make recommendations to the account concerning securities or otherwise solicit securities transactions from the account; provided, however, that nothing in this paragraph (b)(6) shall prevent a bank from: (i) Publishing, using or disseminating advertisements and sales literature in accordance with paragraphs (b)(4) and (b)(5) of this section; and (ii) Responding to customer inquiries regarding the bank's safekeeping and custody services by providing: (A) Advertisements or sales literature consistent with the provisions of paragraphs (b)(4) and (b)(5) of this section describing the safekeeping, custody and related services that the bank offers; (B) A prospectus prepared by a registered investment company, or sales literature prepared by a registered investment company or by the broker or dealer that is the principal underwriter of the registered investment company pertaining to the registered investment company's products; (C) Information based on the materials described in paragraphs (b)(6)(ii)(A) and (B) of this section; or (iii) Responding to inquiries regarding the bank's safekeeping, custody or other services, such as inquiries concerning the customer's account or the availability of sweep or other services, so long as the bank does not provide investment advice or research concerning securities to the account or make a recommendation to the account concerning securities. (c) Employee compensation restriction. A bank may accept orders pursuant to this section for a securities transaction for an account described in paragraph (a) or (b) of this section only if no bank employee receives compensation, including a fee paid pursuant to a plan under 17 CFR 270.12b-1, from the bank, the executing broker or dealer, or any other person that is based on whether a securities transaction is executed for the account or that is based on the quantity, price, or identity of securities purchased or sold by such account, provided that nothing in this paragraph shall prohibit a bank employee from receiving compensation that would not be considered incentive compensation under Sec. 218.700(b)(1) as if a referral had been made by the bank employee, or any compensation described in Sec. 218.700(b)(2). (d) Other conditions. A bank may accept orders for a securities transaction for an account for which the bank acts as a custodian under this section only if the bank: (1) Does not act in a trustee or fiduciary capacity (as defined in section 3(a)(4)(D) of the Act (15 U.S.C. 78c(a)(4)(D)) with respect to the account, other than as a directed trustee; (2) Complies with section 3(a)(4)(C) of the Act (15 U.S.C. 78c(a)(4)(C)) in handling any order for a securities transaction for the account; and (3) Complies with section 3(a)(4)(B)(viii)(II) of the Act (15 U.S.C. 78c(a)(4)(B)(viii)(II)) regarding carrying broker activities. (e) Non-fiduciary administrators and recordkeepers. A bank that acts as a non-fiduciary and non-custodial administrator or recordkeeper for an employee benefit plan account for which another bank acts as custodian may rely on the exemption provided in this section if: (1) Both the custodian bank and the administrator or recordkeeper bank comply with paragraphs (a), (c) and (d) of this section; and (2) The administrator or recordkeeper bank does not execute a cross- trade with or for the employee benefit [[Page 671]] plan account or net orders for securities for the employee benefit plan account, other than: (i) Crossing or netting orders for shares of open-end investment companies not traded on an exchange, or (ii) Crossing orders between or netting orders for accounts of the custodian bank that contracted with the administrator or recordkeeper bank for services. (f) Subcustodians. A bank that acts as a subcustodian for an account for which another bank acts as custodian may rely on the exemptions provided in this section if: (1) For employee benefit plan accounts and individual retirement accounts or similar accounts, both the custodian bank and the subcustodian bank meet the requirements of paragraphs (a), (c) and (d) of this section; (2) For other custodial accounts, both the custodian bank and the subcustodian bank meet the requirements of paragraphs (b), (c) and (d) of this section; and (3) The subcustodian bank does not execute a cross-trade with or for the account or net orders for securities for the account, other than: (i) Crossing or netting orders for shares of open-end investment companies not traded on an exchange, or (ii) Crossing orders between or netting orders for accounts of the custodian bank. (g) Evasions. In considering whether a bank meets the terms of this section, both the form and substance of the relevant account(s), transaction(s) and activities (including advertising activities) of the bank will be considered in order to prevent evasions of the requirements of this section. (h) Definitions. When used in this section: (1) Account for which the bank acts as a custodian means an account that is: (i) An employee benefit plan account for which the bank acts as a custodian; (ii) An individual retirement account or similar account for which the bank acts as a custodian; (iii) An account established by a written agreement between the bank and the customer that sets forth the terms that will govern the fees payable to, and rights and obligations of, the bank regarding the safekeeping or custody of securities; or (iv) An account for which the bank acts as a directed trustee. (2) Advertisement means any material that is published or used in any electronic or other public media, including any Web site, newspaper, magazine or other periodical, radio, television, telephone or tape recording, videotape display, signs or billboards, motion pictures, or telephone directories (other than routine listings). (3) Directed trustee means a trustee that does not exercise investment discretion with respect to the account. (4) Employee benefit plan account means a pension plan, retirement plan, profit sharing plan, bonus plan, thrift savings plan, incentive plan, or other similar plan, including, without limitation, an employer- sponsored plan qualified under section 401(a) of the Internal Revenue Code (26 U.S.C. 401(a)), a governmental or other plan described in section 457 of the Internal Revenue Code (26 U.S.C. 457), a tax-deferred plan described in section 403(b) of the Internal Revenue Code (26 U.S.C. 403(b)), a church plan, governmental, multiemployer or other plan described in section 414(d), (e) or (f) of the Internal Revenue Code (26 U.S.C. 414(d), (e) or (f)), an incentive stock option plan described in section 422 of the Internal Revenue Code (26 U.S.C. 422); a Voluntary Employee Beneficiary Association Plan described in section 501(c)(9) of the Internal Revenue Code (26 U.S.C. 501(c)(9)), a non-qualified deferred compensation plan (including a rabbi or secular trust), a supplemental or mirror plan, and a supplemental unemployment benefit plan. (5) Individual retirement account or similar account means an individual retirement account as defined in section 408 of the Internal Revenue Code (26 U.S.C. 408), Roth IRA as defined in section 408A of the Internal Revenue Code (26 U.S.C. 408A), health savings account as defined in section 223(d) of the Internal Revenue Code (26 U.S.C. 223(d)), Archer medical savings account as defined in section 220(d) of the Internal [[Page 672]] Revenue Code (26 U.S.C. 220(d)), Coverdell education savings account as defined in section 530 of the Internal Revenue Code (26 U.S.C. 530), or other similar account. (6) Sales literature means any written or electronic communication, other than an advertisement, that is generally distributed or made generally available to customers of the bank or the public, including circulars, form letters, brochures, telemarketing scripts, seminar texts, published articles, and press releases concerning the bank's products or services. (7) Principal underwriter has the same meaning as in section 2(a)(29) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(29)). Sec. 218.771 Exemption from the definition of ``broker'' for banks effecting transactions in securities issued pursuant to Regulation S. (a) A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)), to the extent that, as agent, the bank: (1) Effects a sale in compliance with the requirements of 17 CFR 230.903 of an eligible security to a purchaser who is not in the United States; (2) Effects, by or on behalf of a person who is not a U.S. person under 17 CFR 230.902(k), a resale of an eligible security after its initial sale with a reasonable belief that the eligible security was initially sold outside of the United States within the meaning of and in compliance with the requirements of 17 CFR 230.903 to a purchaser who is not in the United States or a registered broker or dealer, provided that if the resale is made prior to the expiration of any applicable distribution compliance period specified in 17 CFR 230.903(b)(2) or (b)(3), the resale is made in compliance with the requirements of 17 CFR 230.904; or (3) Effects, by or on behalf of a registered broker or dealer, a resale of an eligible security after its initial sale with a reasonable belief that the eligible security was initially sold outside of the United States within the meaning of and in compliance with the requirements of 17 CFR 230.903 to a purchaser who is not in the United States, provided that if the resale is made prior to the expiration of any applicable distribution compliance period specified in 17 CFR 230.903(b)(2) or (b)(3), the resale is made in compliance with the requirements of 17 CFR 230.904. (b) Definitions. For purposes of this section: (1) Distributor has the same meaning as in 17 CFR 230.902(d). (2) Eligible security means a security that: (i) Is not being sold from the inventory of the bank or an affiliate of the bank; and (ii) Is not being underwritten by the bank or an affiliate of the bank on a firm-commitment basis, unless the bank acquired the security from an unaffiliated distributor that did not purchase the security from the bank or an affiliate of the bank. (3) Purchaser means a person who purchases an eligible security and who is not a U.S. person under 17 CFR 230.902(k). Sec. 218.772 Exemption from the definition of ``broker'' for banks engaging in securities lending transactions. (a) A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)), to the extent that, as an agent, it engages in or effects securities lending transactions, and any securities lending services in connection with such transactions, with or on behalf of a person the bank reasonably believes to be: (1) A qualified investor as defined in section 3(a)(54)(A) of the Act (15 U.S.C. 78c(a)(54)(A)); or (2) Any employee benefit plan that owns and invests on a discretionary basis, not less than $ 25,000,000 in investments. (b) Securities lending transaction means a transaction in which the owner of a security lends the security temporarily to another party pursuant to a written securities lending agreement under which the lender retains the economic interests of an owner of such securities, and has the right to terminate the transaction and to recall the loaned securities on terms agreed by the parties. [[Page 673]] (c) Securities lending services means: (1) Selecting and negotiating with a borrower and executing, or directing the execution of the loan with the borrower; (2) Receiving, delivering, or directing the receipt or delivery of loaned securities; (3) Receiving, delivering, or directing the receipt or delivery of collateral; (4) Providing mark-to-market, corporate action, recordkeeping or other services incidental to the administration of the securities lending transaction; (5) Investing, or directing the investment of, cash collateral; or (6) Indemnifying the lender of securities with respect to various matters. Sec. 218.775 Exemption from the definition of ``broker'' for banks effecting certain excepted or exempted transactions in investment company securities. (a) A bank that meets the conditions for an exception or exemption from the definition of the term ``broker'' except for the condition in section 3(a)(4)(C)(i) of the Act (15 U.S.C. 78c(a)(4)(C)(i)), is exempt from such condition to the extent that it effects a transaction in a covered security, if: (1) Any such security is neither traded on a national securities exchange nor through the facilities of a national securities association or an interdealer quotation system; (2) The security is distributed by a registered broker or dealer, or the sales charge is no more than the amount permissible for a security sold by a registered broker or dealer pursuant to any applicable rules adopted pursuant to section 22(b)(1) of the Investment Company Act of 1940 (15 U.S.C. 80a-22(b)(1)) by a securities association registered under section 15A of the Act (15 U.S.C. 78o-3); and (3) Any such transaction is effected: (i) Through the National Securities Clearing Corporation; or (ii) Directly with a transfer agent or with an insurance company or separate account that is excluded from the definition of transfer agent in Section 3(a)(25) of the Act. (b) Definitions. For purposes of this section: (1) Covered security means: (i) Any security issued by an open-end company, as defined by section 5(a)(1) of the Investment Company Act (15 U.S.C. 80a-5(a)(1)), that is registered under that Act; and (ii) Any variable insurance contract funded by a separate account, as defined by section 2(a)(37) of the Investment Company Act (15 U.S.C. 80a-2(a)(37)), that is registered under that Act. (2) Interdealer quotation system has the same meaning as in 17 CFR 240.15c2-11. (3) Insurance company has the same meaning as in 15 U.S.C. 77b(a)(13). [Reg. R, 72 FR 56554, Oct. 3, 2007, as amended at 73 FR 20780, Apr. 17, 2008] Sec. 218.776 Exemption from the definition of ``broker'' for banks effecting certain excepted or exempted transactions in a company's securities for its employee benefit plans. (a) A bank that meets the conditions for an exception or exemption from the definition of the term ``broker'' except for the condition in section 3(a)(4)(C)(i) of the Act (15 U.S.C. 78c(a)(4)(C)(i)), is exempt from such condition to the extent that it effects a transaction in the securities of a company directly with a transfer agent acting for the company that issued the security, if: (1) No commission is charged with respect to the transaction; (2) The transaction is conducted by the bank solely for the benefit of an employee benefit plan account; (3) Any such security is obtained directly from: (i) The company; or (ii) An employee benefit plan of the company; and (4) Any such security is transferred only to: (i) The company; or (ii) An employee benefit plan of the company. (b) For purposes of this section, the term employee benefit plan account has the same meaning as in Sec. 218.760(h)(4). Sec. 218.780 Exemption for banks from liability under section 29 of the Securities Exchange Act of 1934. (a) No contract entered into before March 31, 2009, shall be void or considered voidable by reason of section 29(b) of the Act (15 U.S.C. 78cc(b)) because [[Page 674]] any bank that is a party to the contract violated the registration requirements of section 15(a) of the Act (15 U.S.C. 78o(a)), any other applicable provision of the Act, or the rules and regulations thereunder based solely on the bank's status as a broker when the contract was created. (b) No contract shall be void or considered voidable by reason of section 29(b) of the Act (15 U.S.C. 78cc(b)) because any bank that is a party to the contract violated the registration requirements of section 15(a) of the Act (15 U.S.C. 78o(a)) or the rules and regulations thereunder based solely on the bank's status as a broker when the contract was created, if: (1) At the time the contract was created, the bank acted in good faith and had reasonable policies and procedures in place to comply with section 3(a)(4)(B) of the Act (15 U.S.C. 78c(a)(4)(B)) and the rules and regulations thereunder; and (2) At the time the contract was created, any violation of the registration requirements of section 15(a) of the Act by the bank did not result in any significant harm or financial loss or cost to the person seeking to void the contract. Sec. 218.781 Exemption from the definition of ``broker'' for banks for a limited period of time. A bank is exempt from the definition of the term ``broker'' under section 3(a)(4) of the Act (15 U.S.C. 78c(a)(4)) until the first day of its first fiscal year commencing after September 30, 2008. PART 219_REIMBURSEMENT FOR PROVIDING FINANCIAL RECORDS; RECORDKEEPING REQUIREMENTS FOR CERTAIN FINANCIAL RECORDS (REGULATION S)--Table of Contents Subpart A_Reimbursement to Financial Institutions for Providing Financial Records Sec. 219.1 Authority, purpose and scope. 219.2 Definitions. 219.3 Cost reimbursement. 219.4 Exceptions. 219.5 Conditions for payment. 219.6 Payment procedures. Subpart B_Recordkeeping and Reporting Requirements for Funds Transfers and Transmittals of Funds 219.21 Authority, purpose and scope. 219.22 Definitions. 219.23 Recordkeeping and reporting requirements. 219.24 Retention period. Authority: 12 U.S.C. 3415. Source: 44 FR 55813, Sept. 28, 1979, unless otherwise noted. Subpart A_Reimbursement to Financial Institutions for Providing Financial Records Sec. 219.1 Authority, purpose and scope. This subpart of Regulation S (12 CFR part 219, subpart A) is issued by the Board of Governors of the Federal Reserve System (the Board) under section 1115 of the Right to Financial Privacy Act (the Act) (12 U.S.C. 3415). It establishes the rates and conditions for reimbursement of reasonably necessary costs directly incurred by financial institutions in assembling or providing customer financial records to a government authority pursuant to the Act. [60 FR 233, Jan. 3, 1995] Sec. 219.2 Definitions. For the purposes of this subpart, the following definitions shall apply: Customer means any person or authorized representative of that person who uses any service of a financial institution, or for whom a financial institution acts or has acted as a fiduciary in relation to an account maintained in the person's name. Customer does not include corporations or partnerships comprised of more than five persons. Financial institution means any office of a bank, savings bank, card issuer as defined in section 103 of the Consumers Credit Protection Act (15 U.S.C. 1602(n)), industrial loan company, trust company, savings association, building and loan, or homestead association (including cooperative banks), credit union, or consumer finance institution, located in any State or territory of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, or the Virgin Islands. [[Page 675]] Financial record means an original or copy of, or information known to have been derived from, any record held by a financial institution pertaining to a customer's relationship with the financial institution. Government authority means any agency or department of the United States, or any officer, employee or agent thereof. Person means an individual or a partnership of five or fewer individuals. [Reg. S, 61 FR 29640, June 12, 1996] Sec. 219.3 Cost reimbursement. (a) Fees payable. (1) Except as provided in Sec. 219.4 of this part, a government authority seeking access to financial records pertaining to a customer, by written request, through: (i) A court order; (ii) A subpoena issued pursuant to the Federal Rules of Criminal Procedure or the Federal Rules of Civil Procedure; or (iii) Other agency administrative procedures, including administrative subpoenas, voluntary requests, or other process shall reimburse the financial institution for reasonably necessary costs directly incurred in searching for, reproducing or transporting books, papers, records, or other data as set forth in this section. (2) The reimbursement schedule for a financial institution is set forth in appendix A to this section. If a financial institution has financial records that are stored at an independent storage facility that charges a fee to search for, reproduce, or transport particular records requested, these costs are considered to be directly incurred by the financial institution and may be included in the reimbursement. (b) Search and processing costs. (1) Reimbursement of search and processing costs shall cover the total amount of personnel time spent in locating, retrieving, reproducing, and preparing financial records for shipment. Search and processing costs shall not cover analysis of material or legal advice. (2) If itemized separately, search and processing costs may include the actual cost of extracting electronically stored records, based on computer time and necessary supplies; however, personnel time for computer searches may be paid for at the rates set for computer support specialist, specified in appendix A to this section, but only when compliance with the request for information requires that the financial institution use programming or other higher level technical services of a computer support specialist in order to reproduce electronically stored information in the format requested by the government authority. (3) Rates for Search and Processing in appendix A shall be recalculated as follows on October 1, 2012, and on October 1 of each subsequent three-year period utilizing Bureau of Labor Statistics (``BLS'') data or equivalent data (as so designated by the Board) by replacing the existing hourly rates with the sum of: (i) Base labor rate recalculation--Using the most recently available wage data from the Occupational Employment Statistics program (http:// www.bls.gov/oes/home.htm) for the BLS industry category ``Credit Intermediation and Related Activities'' (NAICS Code Number 522000) (or successor category): (A) [Clerical/Technical category] the average of the median hourly rates for the ``Information and Records Clerk'' and ``Computer Operator'' job categories (SOC Code Number 43-4199 and 43-9011) (or any successor job categories); (B) [Manager/Supervisor category] the median hourly rate for the ``first-line supervisors/managers of office'' job category (SOC Code Number 43-1011) (or successor category), and (C) [Computer Support Specialist category] the median hourly rate for the ``computer support specialist'' job category (SOC Code Number 15-1041) (or successor category); plus (ii) Benefits Adjustment--an amount for each hourly rate category that is equal to the product of: (A) The hourly rates set forth in paragraph (b)(3)(i) of this section, and (B) The most recently available ``percent of total compensation'' represented by ``total benefits'' for the ``Credit Intermediation and Related Activities'' industry category (private sector) set out in the Employment Cost Trends section of the National Compensation Survey (http://data.bls.gov/PDQ/outside.jsp?survey=cm); and [[Page 676]] (iii) If the recalculated rates for Search and Processing (including the Base labor rate and the benefits adjustment) are not a multiple of $1, the recalculated rates shall be rounded up to the next multiple of $1. (c) Reproduction costs. The reimbursement rates for reproduction costs for requested information are set forth in appendix A to this section, subject to the Conditions for Payment set forth in Sec. 219.5 of this part. Copies of photographs, films and other materials not listed in appendix A to this section are reimbursed at actual cost. (d) Transportation or delivery costs. Reimbursement for transportation or delivery costs shall be for the reasonably necessary costs directly incurred to transport personnel to locate and retrieve the requested information, and to deliver such material to the place of examination. Appendix A to Sec. 219.3--Reimbursement Schedule Reproduction: Photocopy, per page.................... $0.25 Paper copies of microfiche, per frame.. 0.25 Duplicate Microfiche, per microfiche... 0.50 Storage media.......................... Actual cost. Search and Processing: Clerical/Technical, hourly rate........ 22.00 Computer Support Specialist, hourly 30.00 rate. Manager/Supervisory, hourly rate....... 30.00 [Reg. S, 61 FR 29640, June 12, 1996, as amended at 74 FR 50107, Sept. 30, 2009] Sec. 219.4 Exceptions. A financial institution is not entitled to reimbursement under this subpart for costs incurred in assembling or providing financial records or information related to: (a) Security interests, bankruptcy claims, debt collection. Any financial records provided as an incident to perfecting a security interest, proving a claim in bankruptcy, or otherwise collecting on a debt owing either to the financial institution itself or in its role as a fiduciary. (b) Government loan programs. Financial records that are necessary to permit the appropriate government authority to carry out its responsibilities under a government loan, loan guaranty or loan insurance program. (c) Nonidentifiable information. Financial records that are not identified with or identifiable as being derived from the financial records of a particular customer. (d) Financial supervisory agencies. Financial records disclosed to a financial supervisory agency in the exercise of its supervisory, regulatory, or monetary functions with respect to a financial institution. (e) Internal Revenue summons. Financial records disclosed in accordance with procedures authorized by the Internal Revenue Code. (f) Federally required reports. Financial records required to be reported in accordance with any federal statute or rule promulgated thereunder. (g) Government civil or criminal litigation. Financial records sought by a government authority under the Federal Rules of Civil or Criminal Procedure or comparable rules of other courts in connection with litigation to which the government authority and the customer are parties. (h) Administrative agency subpoenas. Financial records sought by a government authority pursuant to an administrative subpoena issued by an administrative law judge in an adjudicatory proceeding subject to 5 U.S.C. 554, and to which the government authority and the customer are parties. (i) Investigation of financial institution or its noncustomer. Financial records sought by a government authority in connection with a lawful proceeding, investigation, examination, or inspection directed at the financial institution in possession of such records, or at an entity that is not a customer as defined in Sec. 219.2 of this part. (j) General Accounting Office requests. Financial records sought by the General Accounting Office pursuant to an authorized proceeding, investigation, examination, or audit directed at a government authority. (k) Federal Housing Finance Board requests. Financial records or information sought by the Federal Housing Finance Board (FHFB) or any of the Federal home loan banks in the exercise of the FHFB's authority to extend credit to financial institutions or others. (l) Department of Veterans Affairs. The disclosure of the name and address of [[Page 677]] any customer to the Department of Veterans Affairs where such disclosure is necessary to, and used solely for, the proper administration of benefits programs under laws administered by that Department. [Reg. S, 61 FR 29640, June 12, 1996] Sec. 219.5 Conditions for payment. (a) Direct costs. Payment shall be made only for costs that are both directly incurred and reasonably necessary to provide requested material. Search and processing, reproduction, and transportation or delivery costs shall be considered separately when determining whether the costs are reasonably necessary. Photocopying or microfiche charges are reasonably necessary only if the institution has reproduced financial records that were not stored electronically (i.e., where the information requested was stored only on paper or in microfiche), or where the government authority making the request has specifically asked for printed copies of electronically stored records. (b) Compliance with legal process, request, or authorization. No payment may be made to a financial institution until it satisfactorily complies with the legal process, the formal written request, or the customer authorization. When the legal process or formal written request is withdrawn, or the customer authorization is revoked, or where the customer successfully challenges disclosure to a grand jury or government authority, the financial institution shall be reimbursed for the reasonably necessary costs incurred in assembling the requested financial records prior to the time the financial institution is notified of such event. (c) Itemized bill or invoice. No reimbursement is required unless a financial institution submits an itemized bill or invoice specifically detailing its search and processing, reproduction, and transportation costs. Search and processing time should be billed in 15-minute increments. [Reg. S, 61 FR 29641, June 12, 1996, as amended at 74 FR 50108, Sept. 30, 2009] Sec. 219.6 Payment procedures. (a) Notice to submit invoice. Promptly following a service of legal process or request, the court or government authority shall notify the financial institution that it must submit an itemized bill or invoice in order to obtain payment and shall furnish an address for this purpose. (b) Special notice. If a grand jury or government authority withdraws the legal process or formal written request, or if the customer revokes the authorization, or if the legal process or request has been successfully challenged by the customer, the grand jury or government authority shall promptly notify the financial institution of these facts, and shall also notify the financial institution that it must submit an itemized bill or invoice in order to obtain payment of costs incurred prior to the time the financial institution receives this notice. [Reg. S, 61 FR 29641, June 12, 1996; 61 FR 32317, June 24, 1996] Subpart B_Recordkeeping and Reporting Requirements for Funds Transfers and Transmittals of Funds Authority: 12 U.S.C. 1829b(b)(2) and (3). Source: 60 FR 233, Jan. 3, 1995, unless otherwise noted. Sec. 219.21 Authority, purpose and scope. This subpart of Regulation S (12 CFR part 219, subpart B) is issued by the Board under the authority of section 21(b) of the Federal Deposit Insurance Act (12 U.S.C. 1829b), as amended by the Annunzio-Wylie Anti- Money Laundering Act of 1992 (Pub. L. 102-550, title XV; 106 Stat. 3672, 4044), which authorizes the Board and the Secretary of the Treasury jointly to prescribe recordkeeping and reporting requirements for domestic wire transfers by insured depository institutions; and which also requires the Board and the Treasury jointly to prescribe recordkeeping and reporting requirements for international wire transfers by insured depository institutions and by nonbank financial institutions. The definitions and recordkeeping and reporting requirements referenced in this subpart are promulgated and administered jointly by the Board and the Treasury and are codified in 31 CFR 1010.100, [[Page 678]] 1010.410(e), and 1020.410(a). This subpart does not apply to a particular person or class of persons or a particular transaction or class of transactions to the extent that the Treasury has determined that 31 CFR 1010.410(e) or 1020.410(a) do not apply to that person, transaction, or class of persons or transactions. These recordkeeping and reporting requirements will assist in the prosecution of money laundering activities and are determined to have a high degree of usefulness in criminal, tax or regulatory investigations or proceedings. [60 FR 233, Jan. 3, 1995, as amended by Reg. S, 61 FR 58975, Nov. 20, 1996; 77 FR 65097, Oct. 25, 2012] Sec. 219.22 Definitions. The following terms are defined in 31 CFR 1010.100 under the joint authority of the Board and the Treasury: Accept. Beneficiary. Beneficiary's bank. Established customer. Execution date. Funds transfer. Intermediary bank. Intermediary financial institution. Originator. Originator's bank. Payment date. Payment order. Receiving bank. Receiving financial institution. Recipient. Recipient's financial institution. Sender. Transmittal of funds. Transmittal order. Transmittor. Transmittor's financial institution. [60 FR 233, Jan. 3, 1995, as amended by Reg. S, 77 FR 65098, Oct. 25, 2012] Sec. 219.23 Recordkeeping and reporting requirements. (a) Domestic and international funds transfers by insured depository institutions. The Board and the Treasury are authorized to promulgate jointly recordkeeping and reporting requirements for domestic and international funds transfers by insured depository institutions whenever the agencies determine that the maintenance of such records has a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings. These regulations are codified at 31 CFR 1020.410(a). For the purposes of this subpart, the provisions of 31 CFR 1020.410(a) apply only to funds transfers by insured depository institutions. (b) International transmittals of funds by financial institutions other than insured depository institutions. The Board and the Treasury are required to promulgate jointly reporting and recordkeeping requirements for international transmittals of funds by financial institutions, including brokers and dealers in securities and businesses that provide money transmitting services. In prescribing these requirements, the Board and the Treasury take into account the usefulness of these records in criminal, tax, or regulatory investigations or proceedings and the effect the recordkeeping will have on the cost and efficiency of the payment system. These regulations are codified at 31 CFR 1010.410(e). For the purposes of this subpart, the provisions of 31 CFR 1010.410(e) apply only to international transmittals of funds. [60 FR 233, Jan. 3, 1995, as amended by Reg. S, 77 FR 65098, Oct. 25, 2012] Sec. 219.24 Retention period. All records that are required to be retained by this subpart shall be retained for a period of five years. All these records shall be filed or stored in such a way as to be accessible within a reasonable period of time, taking into consideration the nature of the record and the amount of time that has expired since the record was made. Any records required to be retained by this subpart shall be made available to the Board upon request. [[Page 679]] FINDING AIDS -------------------------------------------------------------------- A list of CFR titles, subtitles, chapters, subchapters and parts and an alphabetical list of agencies publishing in the CFR are included in the CFR Index and Finding Aids volume to the Code of Federal Regulations which is published separately and revised annually. Table of CFR Titles and Chapters Alphabetical List of Agencies Appearing in the CFR List of CFR Sections Affected [[Page 681]] Table of CFR Titles and Chapters (Revised as of January 1, 2024) Title 1--General Provisions I Administrative Committee of the Federal Register (Parts 1--49) II Office of the Federal Register (Parts 50--299) III Administrative Conference of the United States (Parts 300--399) IV Miscellaneous Agencies (Parts 400--599) VI National Capital Planning Commission (Parts 600--699) Title 2--Grants and Agreements Subtitle A--Office of Management and Budget Guidance for Grants and Agreements I Office of Management and Budget Governmentwide Guidance for Grants and Agreements (Parts 2--199) II Office of Management and Budget Guidance (Parts 200-- 299) Subtitle B--Federal Agency Regulations for Grants and Agreements III Department of Health and Human Services (Parts 300-- 399) IV Department of Agriculture (Parts 400--499) VI Department of State (Parts 600--699) VII Agency for International Development (Parts 700--799) VIII Department of Veterans Affairs (Parts 800--899) IX Department of Energy (Parts 900--999) X Department of the Treasury (Parts 1000--1099) XI Department of Defense (Parts 1100--1199) XII Department of Transportation (Parts 1200--1299) XIII Department of Commerce (Parts 1300--1399) XIV Department of the Interior (Parts 1400--1499) XV Environmental Protection Agency (Parts 1500--1599) XVIII National Aeronautics and Space Administration (Parts 1800--1899) XX United States Nuclear Regulatory Commission (Parts 2000--2099) XXII Corporation for National and Community Service (Parts 2200--2299) XXIII Social Security Administration (Parts 2300--2399) XXIV Department of Housing and Urban Development (Parts 2400--2499) XXV National Science Foundation (Parts 2500--2599) XXVI National Archives and Records Administration (Parts 2600--2699) [[Page 682]] XXVII Small Business Administration (Parts 2700--2799) XXVIII Department of Justice (Parts 2800--2899) XXIX Department of Labor (Parts 2900--2999) XXX Department of Homeland Security (Parts 3000--3099) XXXI Institute of Museum and Library Services (Parts 3100-- 3199) XXXII National Endowment for the Arts (Parts 3200--3299) XXXIII National Endowment for the Humanities (Parts 3300-- 3399) XXXIV Department of Education (Parts 3400--3499) XXXV Export-Import Bank of the United States (Parts 3500-- 3599) XXXVI Office of National Drug Control Policy, Executive Office of the President (Parts 3600--3699) XXXVII Peace Corps (Parts 3700--3799) LVIII Election Assistance Commission (Parts 5800--5899) LIX Gulf Coast Ecosystem Restoration Council (Parts 5900-- 5999) LX Federal Communications Commission (Parts 6000--6099) Title 3--The President I Executive Office of the President (Parts 100--199) Title 4--Accounts I Government Accountability Office (Parts 1--199) Title 5--Administrative Personnel I Office of Personnel Management (Parts 1--1199) II Merit Systems Protection Board (Parts 1200--1299) III Office of Management and Budget (Parts 1300--1399) IV Office of Personnel Management and Office of the Director of National Intelligence (Parts 1400-- 1499) V The International Organizations Employees Loyalty Board (Parts 1500--1599) VI Federal Retirement Thrift Investment Board (Parts 1600--1699) VIII Office of Special Counsel (Parts 1800--1899) IX Appalachian Regional Commission (Parts 1900--1999) XI Armed Forces Retirement Home (Parts 2100--2199) XIV Federal Labor Relations Authority, General Counsel of the Federal Labor Relations Authority and Federal Service Impasses Panel (Parts 2400--2499) XVI Office of Government Ethics (Parts 2600--2699) XXI Department of the Treasury (Parts 3100--3199) XXII Federal Deposit Insurance Corporation (Parts 3200-- 3299) XXIII Department of Energy (Parts 3300--3399) XXIV Federal Energy Regulatory Commission (Parts 3400-- 3499) XXV Department of the Interior (Parts 3500--3599) [[Page 683]] XXVI Department of Defense (Parts 3600--3699) XXVIII Department of Justice (Parts 3800--3899) XXIX Federal Communications Commission (Parts 3900--3999) XXX Farm Credit System Insurance Corporation (Parts 4000-- 4099) XXXI Farm Credit Administration (Parts 4100--4199) XXXIII U.S. International Development Finance Corporation (Parts 4300--4399) XXXIV Securities and Exchange Commission (Parts 4400--4499) XXXV Office of Personnel Management (Parts 4500--4599) XXXVI Department of Homeland Security (Parts 4600--4699) XXXVII Federal Election Commission (Parts 4700--4799) XL Interstate Commerce Commission (Parts 5000--5099) XLI Commodity Futures Trading Commission (Parts 5100-- 5199) XLII Department of Labor (Parts 5200--5299) XLIII National Science Foundation (Parts 5300--5399) XLV Department of Health and Human Services (Parts 5500-- 5599) XLVI Postal Rate Commission (Parts 5600--5699) XLVII Federal Trade Commission (Parts 5700--5799) XLVIII Nuclear Regulatory Commission (Parts 5800--5899) XLIX Federal Labor Relations Authority (Parts 5900--5999) L Department of Transportation (Parts 6000--6099) LII Export-Import Bank of the United States (Parts 6200-- 6299) LIII Department of Education (Parts 6300--6399) LIV Environmental Protection Agency (Parts 6400--6499) LV National Endowment for the Arts (Parts 6500--6599) LVI National Endowment for the Humanities (Parts 6600-- 6699) LVII General Services Administration (Parts 6700--6799) LVIII Board of Governors of the Federal Reserve System (Parts 6800--6899) LIX National Aeronautics and Space Administration (Parts 6900--6999) LX United States Postal Service (Parts 7000--7099) LXI National Labor Relations Board (Parts 7100--7199) LXII Equal Employment Opportunity Commission (Parts 7200-- 7299) LXIII Inter-American Foundation (Parts 7300--7399) LXIV Merit Systems Protection Board (Parts 7400--7499) LXV Department of Housing and Urban Development (Parts 7500--7599) LXVI National Archives and Records Administration (Parts 7600--7699) LXVII Institute of Museum and Library Services (Parts 7700-- 7799) LXVIII Commission on Civil Rights (Parts 7800--7899) LXIX Tennessee Valley Authority (Parts 7900--7999) LXX Court Services and Offender Supervision Agency for the District of Columbia (Parts 8000--8099) LXXI Consumer Product Safety Commission (Parts 8100--8199) [[Page 684]] LXXIII Department of Agriculture (Parts 8300--8399) LXXIV Federal Mine Safety and Health Review Commission (Parts 8400--8499) LXXVI Federal Retirement Thrift Investment Board (Parts 8600--8699) LXXVII Office of Management and Budget (Parts 8700--8799) LXXX Federal Housing Finance Agency (Parts 9000--9099) LXXXIII Special Inspector General for Afghanistan Reconstruction (Parts 9300--9399) LXXXIV Bureau of Consumer Financial Protection (Parts 9400-- 9499) LXXXVI National Credit Union Administration (Parts 9600-- 9699) XCVII Department of Homeland Security Human Resources Management System (Department of Homeland Security--Office of Personnel Management) (Parts 9700--9799) XCVIII Council of the Inspectors General on Integrity and Efficiency (Parts 9800--9899) XCIX Military Compensation and Retirement Modernization Commission (Parts 9900--9999) C National Council on Disability (Parts 10000--10049) CI National Mediation Board (Parts 10100--10199) CII U.S. Office of Special Counsel (Parts 10200--10299) CII U.S. Office of Special Counsel (Parts 10300--10399) CIV Office of the Intellectual Property Enforcement Coordinator (Part 10400--10499) Title 6--Domestic Security I Department of Homeland Security, Office of the Secretary (Parts 1--199) X Privacy and Civil Liberties Oversight Board (Parts 1000--1099) Title 7--Agriculture Subtitle A--Office of the Secretary of Agriculture (Parts 0--26) Subtitle B--Regulations of the Department of Agriculture I Agricultural Marketing Service (Standards, Inspections, Marketing Practices), Department of Agriculture (Parts 27--209) II Food and Nutrition Service, Department of Agriculture (Parts 210--299) III Animal and Plant Health Inspection Service, Department of Agriculture (Parts 300--399) IV Federal Crop Insurance Corporation, Department of Agriculture (Parts 400--499) V Agricultural Research Service, Department of Agriculture (Parts 500--599) VI Natural Resources Conservation Service, Department of Agriculture (Parts 600--699) VII Farm Service Agency, Department of Agriculture (Parts 700--799) [[Page 685]] VIII Agricultural Marketing Service (Federal Grain Inspection Service, Fair Trade Practices Program), Department of Agriculture (Parts 800--899) IX Agricultural Marketing Service (Marketing Agreements and Orders; Fruits, Vegetables, Nuts), Department of Agriculture (Parts 900--999) X Agricultural Marketing Service (Marketing Agreements and Orders; Milk), Department of Agriculture (Parts 1000--1199) XI Agricultural Marketing Service (Marketing Agreements and Orders; Miscellaneous Commodities), Department of Agriculture (Parts 1200--1299) XIV Commodity Credit Corporation, Department of Agriculture (Parts 1400--1499) XV Foreign Agricultural Service, Department of Agriculture (Parts 1500--1599) XVI [Reserved] XVII Rural Utilities Service, Department of Agriculture (Parts 1700--1799) XVIII Rural Housing Service, Rural Business-Cooperative Service, Rural Utilities Service, and Farm Service Agency, Department of Agriculture (Parts 1800-- 2099) XX [Reserved] XXV Office of Advocacy and Outreach, Department of Agriculture (Parts 2500--2599) XXVI Office of Inspector General, Department of Agriculture (Parts 2600--2699) XXVII Office of Information Resources Management, Department of Agriculture (Parts 2700--2799) XXVIII Office of Operations, Department of Agriculture (Parts 2800--2899) XXIX Office of Energy Policy and New Uses, Department of Agriculture (Parts 2900--2999) XXX Office of the Chief Financial Officer, Department of Agriculture (Parts 3000--3099) XXXI Office of Environmental Quality, Department of Agriculture (Parts 3100--3199) XXXII Office of Procurement and Property Management, Department of Agriculture (Parts 3200--3299) XXXIII Office of Transportation, Department of Agriculture (Parts 3300--3399) XXXIV National Institute of Food and Agriculture (Parts 3400--3499) XXXV Rural Housing Service, Department of Agriculture (Parts 3500--3599) XXXVI National Agricultural Statistics Service, Department of Agriculture (Parts 3600--3699) XXXVII Economic Research Service, Department of Agriculture (Parts 3700--3799) XXXVIII World Agricultural Outlook Board, Department of Agriculture (Parts 3800--3899) XLI [Reserved] [[Page 686]] XLII Rural Business-Cooperative Service and Rural Utilities Service, Department of Agriculture (Parts 4200-- 4299) L Rural Business-Cooperative Service, and Rural Utilities Service, Department of Agriculture (Parts 5000--5099) Title 8--Aliens and Nationality I Department of Homeland Security (Parts 1--499) V Executive Office for Immigration Review, Department of Justice (Parts 1000--1399) Title 9--Animals and Animal Products I Animal and Plant Health Inspection Service, Department of Agriculture (Parts 1--199) II Agricultural Marketing Service (Fair Trade Practices Program), Department of Agriculture (Parts 200-- 299) III Food Safety and Inspection Service, Department of Agriculture (Parts 300--599) Title 10--Energy I Nuclear Regulatory Commission (Parts 0--199) II Department of Energy (Parts 200--699) III Department of Energy (Parts 700--999) X Department of Energy (General Provisions) (Parts 1000--1099) XIII Nuclear Waste Technical Review Board (Parts 1300-- 1399) XVII Defense Nuclear Facilities Safety Board (Parts 1700-- 1799) XVIII Northeast Interstate Low-Level Radioactive Waste Commission (Parts 1800--1899) Title 11--Federal Elections I Federal Election Commission (Parts 1--9099) II Election Assistance Commission (Parts 9400--9499) Title 12--Banks and Banking I Comptroller of the Currency, Department of the Treasury (Parts 1--199) II Federal Reserve System (Parts 200--299) III Federal Deposit Insurance Corporation (Parts 300--399) IV Export-Import Bank of the United States (Parts 400-- 499) V [Reserved] VI Farm Credit Administration (Parts 600--699) VII National Credit Union Administration (Parts 700--799) VIII Federal Financing Bank (Parts 800--899) IX (Parts 900--999)[Reserved] [[Page 687]] X Consumer Financial Protection Bureau (Parts 1000-- 1099) XI Federal Financial Institutions Examination Council (Parts 1100--1199) XII Federal Housing Finance Agency (Parts 1200--1299) XIII Financial Stability Oversight Council (Parts 1300-- 1399) XIV Farm Credit System Insurance Corporation (Parts 1400-- 1499) XV Department of the Treasury (Parts 1500--1599) XVI Office of Financial Research, Department of the Treasury (Parts 1600--1699) XVII Office of Federal Housing Enterprise Oversight, Department of Housing and Urban Development (Parts 1700--1799) XVIII Community Development Financial Institutions Fund, Department of the Treasury (Parts 1800--1899) Title 13--Business Credit and Assistance I Small Business Administration (Parts 1--199) III Economic Development Administration, Department of Commerce (Parts 300--399) IV Emergency Steel Guarantee Loan Board (Parts 400--499) V Emergency Oil and Gas Guaranteed Loan Board (Parts 500--599) Title 14--Aeronautics and Space I Federal Aviation Administration, Department of Transportation (Parts 1--199) II Office of the Secretary, Department of Transportation (Aviation Proceedings) (Parts 200--399) III Commercial Space Transportation, Federal Aviation Administration, Department of Transportation (Parts 400--1199) V National Aeronautics and Space Administration (Parts 1200--1299) VI Air Transportation System Stabilization (Parts 1300-- 1399) Title 15--Commerce and Foreign Trade Subtitle A--Office of the Secretary of Commerce (Parts 0--29) Subtitle B--Regulations Relating to Commerce and Foreign Trade I Bureau of the Census, Department of Commerce (Parts 30--199) II National Institute of Standards and Technology, Department of Commerce (Parts 200--299) III International Trade Administration, Department of Commerce (Parts 300--399) IV Foreign-Trade Zones Board, Department of Commerce (Parts 400--499) VII Bureau of Industry and Security, Department of Commerce (Parts 700--799) [[Page 688]] VIII Bureau of Economic Analysis, Department of Commerce (Parts 800--899) IX National Oceanic and Atmospheric Administration, Department of Commerce (Parts 900--999) XI National Technical Information Service, Department of Commerce (Parts 1100--1199) XIII East-West Foreign Trade Board (Parts 1300--1399) XIV Minority Business Development Agency (Parts 1400-- 1499) XV Office of the Under-Secretary for Economic Affairs, Department of Commerce (Parts 1500--1599) Subtitle C--Regulations Relating to Foreign Trade Agreements XX Office of the United States Trade Representative (Parts 2000--2099) Subtitle D--Regulations Relating to Telecommunications and Information XXIII National Telecommunications and Information Administration, Department of Commerce (Parts 2300--2399) [Reserved] Title 16--Commercial Practices I Federal Trade Commission (Parts 0--999) II Consumer Product Safety Commission (Parts 1000--1799) Title 17--Commodity and Securities Exchanges I Commodity Futures Trading Commission (Parts 1--199) II Securities and Exchange Commission (Parts 200--399) IV Department of the Treasury (Parts 400--499) Title 18--Conservation of Power and Water Resources I Federal Energy Regulatory Commission, Department of Energy (Parts 1--399) III Delaware River Basin Commission (Parts 400--499) VI Water Resources Council (Parts 700--799) VIII Susquehanna River Basin Commission (Parts 800--899) XIII Tennessee Valley Authority (Parts 1300--1399) Title 19--Customs Duties I U.S. Customs and Border Protection, Department of Homeland Security; Department of the Treasury (Parts 0--199) II United States International Trade Commission (Parts 200--299) III International Trade Administration, Department of Commerce (Parts 300--399) IV U.S. Immigration and Customs Enforcement, Department of Homeland Security (Parts 400--599) [Reserved] [[Page 689]] Title 20--Employees' Benefits I Office of Workers' Compensation Programs, Department of Labor (Parts 1--199) II Railroad Retirement Board (Parts 200--399) III Social Security Administration (Parts 400--499) IV Employees' Compensation Appeals Board, Department of Labor (Parts 500--599) V Employment and Training Administration, Department of Labor (Parts 600--699) VI Office of Workers' Compensation Programs, Department of Labor (Parts 700--799) VII Benefits Review Board, Department of Labor (Parts 800--899) VIII Joint Board for the Enrollment of Actuaries (Parts 900--999) IX Office of the Assistant Secretary for Veterans' Employment and Training Service, Department of Labor (Parts 1000--1099) Title 21--Food and Drugs I Food and Drug Administration, Department of Health and Human Services (Parts 1--1299) II Drug Enforcement Administration, Department of Justice (Parts 1300--1399) III Office of National Drug Control Policy (Parts 1400-- 1499) Title 22--Foreign Relations I Department of State (Parts 1--199) II Agency for International Development (Parts 200--299) III Peace Corps (Parts 300--399) IV International Joint Commission, United States and Canada (Parts 400--499) V United States Agency for Global Media (Parts 500--599) VII U.S. International Development Finance Corporation (Parts 700--799) IX Foreign Service Grievance Board (Parts 900--999) X Inter-American Foundation (Parts 1000--1099) XI International Boundary and Water Commission, United States and Mexico, United States Section (Parts 1100--1199) XII United States International Development Cooperation Agency (Parts 1200--1299) XIII Millennium Challenge Corporation (Parts 1300--1399) XIV Foreign Service Labor Relations Board; Federal Labor Relations Authority; General Counsel of the Federal Labor Relations Authority; and the Foreign Service Impasse Disputes Panel (Parts 1400--1499) XV African Development Foundation (Parts 1500--1599) XVI Japan-United States Friendship Commission (Parts 1600--1699) XVII United States Institute of Peace (Parts 1700--1799) [[Page 690]] Title 23--Highways I Federal Highway Administration, Department of Transportation (Parts 1--999) II National Highway Traffic Safety Administration and Federal Highway Administration, Department of Transportation (Parts 1200--1299) III National Highway Traffic Safety Administration, Department of Transportation (Parts 1300--1399) Title 24--Housing and Urban Development Subtitle A--Office of the Secretary, Department of Housing and Urban Development (Parts 0--99) Subtitle B--Regulations Relating to Housing and Urban Development I Office of Assistant Secretary for Equal Opportunity, Department of Housing and Urban Development (Parts 100--199) II Office of Assistant Secretary for Housing-Federal Housing Commissioner, Department of Housing and Urban Development (Parts 200--299) III Government National Mortgage Association, Department of Housing and Urban Development (Parts 300--399) IV Office of Housing and Office of Multifamily Housing Assistance Restructuring, Department of Housing and Urban Development (Parts 400--499) V Office of Assistant Secretary for Community Planning and Development, Department of Housing and Urban Development (Parts 500--599) VI Office of Assistant Secretary for Community Planning and Development, Department of Housing and Urban Development (Parts 600--699) [Reserved] VII Office of the Secretary, Department of Housing and Urban Development (Housing Assistance Programs and Public and Indian Housing Programs) (Parts 700-- 799) VIII Office of the Assistant Secretary for Housing--Federal Housing Commissioner, Department of Housing and Urban Development (Section 8 Housing Assistance Programs, Section 202 Direct Loan Program, Section 202 Supportive Housing for the Elderly Program and Section 811 Supportive Housing for Persons With Disabilities Program) (Parts 800--899) IX Office of Assistant Secretary for Public and Indian Housing, Department of Housing and Urban Development (Parts 900--1699) X Office of Assistant Secretary for Housing--Federal Housing Commissioner, Department of Housing and Urban Development (Interstate Land Sales Registration Program) (Parts 1700--1799) [Reserved] XII Office of Inspector General, Department of Housing and Urban Development (Parts 2000--2099) XV Emergency Mortgage Insurance and Loan Programs, Department of Housing and Urban Development (Parts 2700--2799) [Reserved] [[Page 691]] XX Office of Assistant Secretary for Housing--Federal Housing Commissioner, Department of Housing and Urban Development (Parts 3200--3899) XXIV Board of Directors of the HOPE for Homeowners Program (Parts 4000--4099) [Reserved] XXV Neighborhood Reinvestment Corporation (Parts 4100-- 4199) Title 25--Indians I Bureau of Indian Affairs, Department of the Interior (Parts 1--299) II Indian Arts and Crafts Board, Department of the Interior (Parts 300--399) III National Indian Gaming Commission, Department of the Interior (Parts 500--599) IV Office of Navajo and Hopi Indian Relocation (Parts 700--899) V Bureau of Indian Affairs, Department of the Interior, and Indian Health Service, Department of Health and Human Services (Part 900--999) VI Office of the Assistant Secretary, Indian Affairs, Department of the Interior (Parts 1000--1199) VII Office of the Special Trustee for American Indians, Department of the Interior (Parts 1200--1299) Title 26--Internal Revenue I Internal Revenue Service, Department of the Treasury (Parts 1--End) Title 27--Alcohol, Tobacco Products and Firearms I Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury (Parts 1--399) II Bureau of Alcohol, Tobacco, Firearms, and Explosives, Department of Justice (Parts 400--799) Title 28--Judicial Administration I Department of Justice (Parts 0--299) III Federal Prison Industries, Inc., Department of Justice (Parts 300--399) V Bureau of Prisons, Department of Justice (Parts 500-- 599) VI Offices of Independent Counsel, Department of Justice (Parts 600--699) VII Office of Independent Counsel (Parts 700--799) VIII Court Services and Offender Supervision Agency for the District of Columbia (Parts 800--899) IX National Crime Prevention and Privacy Compact Council (Parts 900--999) [[Page 692]] XI Department of Justice and Department of State (Parts 1100--1199) Title 29--Labor Subtitle A--Office of the Secretary of Labor (Parts 0--99) Subtitle B--Regulations Relating to Labor I National Labor Relations Board (Parts 100--199) II Office of Labor-Management Standards, Department of Labor (Parts 200--299) III National Railroad Adjustment Board (Parts 300--399) IV Office of Labor-Management Standards, Department of Labor (Parts 400--499) V Wage and Hour Division, Department of Labor (Parts 500--899) IX Construction Industry Collective Bargaining Commission (Parts 900--999) X National Mediation Board (Parts 1200--1299) XII Federal Mediation and Conciliation Service (Parts 1400--1499) XIV Equal Employment Opportunity Commission (Parts 1600-- 1699) XVII Occupational Safety and Health Administration, Department of Labor (Parts 1900--1999) XX Occupational Safety and Health Review Commission (Parts 2200--2499) XXV Employee Benefits Security Administration, Department of Labor (Parts 2500--2599) XXVII Federal Mine Safety and Health Review Commission (Parts 2700--2799) XL Pension Benefit Guaranty Corporation (Parts 4000-- 4999) Title 30--Mineral Resources I Mine Safety and Health Administration, Department of Labor (Parts 1--199) II Bureau of Safety and Environmental Enforcement, Department of the Interior (Parts 200--299) IV Geological Survey, Department of the Interior (Parts 400--499) V Bureau of Ocean Energy Management, Department of the Interior (Parts 500--599) VII Office of Surface Mining Reclamation and Enforcement, Department of the Interior (Parts 700--999) XII Office of Natural Resources Revenue, Department of the Interior (Parts 1200--1299) Title 31--Money and Finance: Treasury Subtitle A--Office of the Secretary of the Treasury (Parts 0--50) Subtitle B--Regulations Relating to Money and Finance [[Page 693]] I Monetary Offices, Department of the Treasury (Parts 51--199) II Fiscal Service, Department of the Treasury (Parts 200--399) IV Secret Service, Department of the Treasury (Parts 400--499) V Office of Foreign Assets Control, Department of the Treasury (Parts 500--599) VI Bureau of Engraving and Printing, Department of the Treasury (Parts 600--699) VII Federal Law Enforcement Training Center, Department of the Treasury (Parts 700--799) VIII Office of Investment Security, Department of the Treasury (Parts 800--899) IX Federal Claims Collection Standards (Department of the Treasury--Department of Justice) (Parts 900--999) X Financial Crimes Enforcement Network, Department of the Treasury (Parts 1000--1099) Title 32--National Defense Subtitle A--Department of Defense I Office of the Secretary of Defense (Parts 1--399) V Department of the Army (Parts 400--699) VI Department of the Navy (Parts 700--799) VII Department of the Air Force (Parts 800--1099) Subtitle B--Other Regulations Relating to National Defense XII Department of Defense, Defense Logistics Agency (Parts 1200--1299) XVI Selective Service System (Parts 1600--1699) XVII Office of the Director of National Intelligence (Parts 1700--1799) XVIII National Counterintelligence Center (Parts 1800--1899) XIX Central Intelligence Agency (Parts 1900--1999) XX Information Security Oversight Office, National Archives and Records Administration (Parts 2000-- 2099) XXI National Security Council (Parts 2100--2199) XXIV Office of Science and Technology Policy (Parts 2400-- 2499) XXVII Office for Micronesian Status Negotiations (Parts 2700--2799) XXVIII Office of the Vice President of the United States (Parts 2800--2899) Title 33--Navigation and Navigable Waters I Coast Guard, Department of Homeland Security (Parts 1--199) II Corps of Engineers, Department of the Army, Department of Defense (Parts 200--399) IV Great Lakes St. Lawrence Seaway Development Corporation, Department of Transportation (Parts 400--499) [[Page 694]] Title 34--Education Subtitle A--Office of the Secretary, Department of Education (Parts 1--99) Subtitle B--Regulations of the Offices of the Department of Education I Office for Civil Rights, Department of Education (Parts 100--199) II Office of Elementary and Secondary Education, Department of Education (Parts 200--299) III Office of Special Education and Rehabilitative Services, Department of Education (Parts 300--399) IV Office of Career, Technical, and Adult Education, Department of Education (Parts 400--499) V Office of Bilingual Education and Minority Languages Affairs, Department of Education (Parts 500--599) [Reserved] VI Office of Postsecondary Education, Department of Education (Parts 600--699) VII Office of Educational Research and Improvement, Department of Education (Parts 700--799) [Reserved] Subtitle C--Regulations Relating to Education XI [Reserved] XII National Council on Disability (Parts 1200--1299) Title 35 [Reserved] Title 36--Parks, Forests, and Public Property I National Park Service, Department of the Interior (Parts 1--199) II Forest Service, Department of Agriculture (Parts 200-- 299) III Corps of Engineers, Department of the Army (Parts 300--399) IV American Battle Monuments Commission (Parts 400--499) V Smithsonian Institution (Parts 500--599) VI [Reserved] VII Library of Congress (Parts 700--799) VIII Advisory Council on Historic Preservation (Parts 800-- 899) IX Pennsylvania Avenue Development Corporation (Parts 900--999) X Presidio Trust (Parts 1000--1099) XI Architectural and Transportation Barriers Compliance Board (Parts 1100--1199) XII National Archives and Records Administration (Parts 1200--1299) XV Oklahoma City National Memorial Trust (Parts 1500-- 1599) XVI Morris K. Udall Scholarship and Excellence in National Environmental Policy Foundation (Parts 1600--1699) Title 37--Patents, Trademarks, and Copyrights I United States Patent and Trademark Office, Department of Commerce (Parts 1--199) II U.S. Copyright Office, Library of Congress (Parts 200--299) [[Page 695]] III Copyright Royalty Board, Library of Congress (Parts 300--399) IV National Institute of Standards and Technology, Department of Commerce (Parts 400--599) Title 38--Pensions, Bonuses, and Veterans' Relief I Department of Veterans Affairs (Parts 0--199) II Armed Forces Retirement Home (Parts 200--299) Title 39--Postal Service I United States Postal Service (Parts 1--999) III Postal Regulatory Commission (Parts 3000--3099) Title 40--Protection of Environment I Environmental Protection Agency (Parts 1--1099) IV Environmental Protection Agency and Department of Justice (Parts 1400--1499) V Council on Environmental Quality (Parts 1500--1599) VI Chemical Safety and Hazard Investigation Board (Parts 1600--1699) VII Environmental Protection Agency and Department of Defense; Uniform National Discharge Standards for Vessels of the Armed Forces (Parts 1700--1799) VIII Gulf Coast Ecosystem Restoration Council (Parts 1800-- 1899) IX Federal Permitting Improvement Steering Council (Part 1900) Title 41--Public Contracts and Property Management Subtitle A--Federal Procurement Regulations System [Note] Subtitle B--Other Provisions Relating to Public Contracts 50 Public Contracts, Department of Labor (Parts 50-1--50- 999) 51 Committee for Purchase From People Who Are Blind or Severely Disabled (Parts 51-1--51-99) 60 Office of Federal Contract Compliance Programs, Equal Employment Opportunity, Department of Labor (Parts 60-1--60-999) 61 Office of the Assistant Secretary for Veterans' Employment and Training Service, Department of Labor (Parts 61-1--61-999) Chapters 62--100 [Reserved] Subtitle C--Federal Property Management Regulations System 101 Federal Property Management Regulations (Parts 101-1-- 101-99) 102 Federal Management Regulation (Parts 102-1--102-299) Chapters 103--104 (Parts 103-001--104-099) [Reserved] [[Page 696]] 105 General Services Administration (Parts 105-1--105-999) 109 Department of Energy Property Management Regulations (Parts 109-1--109-99) 114 Department of the Interior (Parts 114-1--114-99) 115 Environmental Protection Agency (Parts 115-1--115-99) 128 Department of Justice (Parts 128-1--128-99) Chapters 129--200 [Reserved] Subtitle D--Federal Acquisition Supply Chain Security 201 Federal Acquisition Security Council (Parts 201-1-- 201-99). Subtitle E [Reserved] Subtitle F--Federal Travel Regulation System 300 General (Parts 300-1--300-99) 301 Temporary Duty (TDY) Travel Allowances (Parts 301-1-- 301-99) 302 Relocation Allowances (Parts 302-1--302-99) 303 Payment of Expenses Connected with the Death of Certain Employees (Part 303-1--303-99) 304 Payment of Travel Expenses from a Non-Federal Source (Parts 304-1--304-99) Title 42--Public Health I Public Health Service, Department of Health and Human Services (Parts 1--199) Chapters II--III [Reserved] IV Centers for Medicare & Medicaid Services, Department of Health and Human Services (Parts 400--699) V Office of Inspector General-Health Care, Department of Health and Human Services (Parts 1000--1099) Title 43--Public Lands: Interior Subtitle A--Office of the Secretary of the Interior (Parts 1--199) Subtitle B--Regulations Relating to Public Lands I Bureau of Reclamation, Department of the Interior (Parts 400--999) II Bureau of Land Management, Department of the Interior (Parts 1000--9999) III Utah Reclamation Mitigation and Conservation Commission (Parts 10000--10099) Title 44--Emergency Management and Assistance I Federal Emergency Management Agency, Department of Homeland Security (Parts 0--399) [[Page 697]] IV Department of Commerce and Department of Transportation (Parts 400--499) Title 45--Public Welfare Subtitle A--Department of Health and Human Services (Parts 1--199) Subtitle B--Regulations Relating to Public Welfare II Office of Family Assistance (Assistance Programs), Administration for Children and Families, Department of Health and Human Services (Parts 200--299) III Office of Child Support Enforcement (Child Support Enforcement Program), Administration for Children and Families, Department of Health and Human Services (Parts 300--399) IV Office of Refugee Resettlement, Administration for Children and Families, Department of Health and Human Services (Parts 400--499) V Foreign Claims Settlement Commission of the United States, Department of Justice (Parts 500--599) VI National Science Foundation (Parts 600--699) VII Commission on Civil Rights (Parts 700--799) VIII Office of Personnel Management (Parts 800--899) IX Denali Commission (Parts 900--999) X Office of Community Services, Administration for Children and Families, Department of Health and Human Services (Parts 1000--1099) XI National Foundation on the Arts and the Humanities (Parts 1100--1199) XII Corporation for National and Community Service (Parts 1200--1299) XIII Administration for Children and Families, Department of Health and Human Services (Parts 1300--1399) XVI Legal Services Corporation (Parts 1600--1699) XVII National Commission on Libraries and Information Science (Parts 1700--1799) XVIII Harry S. Truman Scholarship Foundation (Parts 1800-- 1899) XXI Commission of Fine Arts (Parts 2100--2199) XXIII Arctic Research Commission (Parts 2300--2399) XXIV James Madison Memorial Fellowship Foundation (Parts 2400--2499) XXV Corporation for National and Community Service (Parts 2500--2599) Title 46--Shipping I Coast Guard, Department of Homeland Security (Parts 1--199) II Maritime Administration, Department of Transportation (Parts 200--399) [[Page 698]] III Coast Guard (Great Lakes Pilotage), Department of Homeland Security (Parts 400--499) IV Federal Maritime Commission (Parts 500--599) Title 47--Telecommunication I Federal Communications Commission (Parts 0--199) II Office of Science and Technology Policy and National Security Council (Parts 200--299) III National Telecommunications and Information Administration, Department of Commerce (Parts 300--399) IV National Telecommunications and Information Administration, Department of Commerce, and National Highway Traffic Safety Administration, Department of Transportation (Parts 400--499) V The First Responder Network Authority (Parts 500--599) Title 48--Federal Acquisition Regulations System 1 Federal Acquisition Regulation (Parts 1--99) 2 Defense Acquisition Regulations System, Department of Defense (Parts 200--299) 3 Department of Health and Human Services (Parts 300-- 399) 4 Department of Agriculture (Parts 400--499) 5 General Services Administration (Parts 500--599) 6 Department of State (Parts 600--699) 7 Agency for International Development (Parts 700--799) 8 Department of Veterans Affairs (Parts 800--899) 9 Department of Energy (Parts 900--999) 10 Department of the Treasury (Parts 1000--1099) 12 Department of Transportation (Parts 1200--1299) 13 Department of Commerce (Parts 1300--1399) 14 Department of the Interior (Parts 1400--1499) 15 Environmental Protection Agency (Parts 1500--1599) 16 Office of Personnel Management, Federal Employees Health Benefits Acquisition Regulation (Parts 1600--1699) 17 Office of Personnel Management (Parts 1700--1799) 18 National Aeronautics and Space Administration (Parts 1800--1899) 19 Broadcasting Board of Governors (Parts 1900--1999) 20 Nuclear Regulatory Commission (Parts 2000--2099) 21 Office of Personnel Management, Federal Employees Group Life Insurance Federal Acquisition Regulation (Parts 2100--2199) 23 Social Security Administration (Parts 2300--2399) 24 Department of Housing and Urban Development (Parts 2400--2499) 25 National Science Foundation (Parts 2500--2599) [[Page 699]] 28 Department of Justice (Parts 2800--2899) 29 Department of Labor (Parts 2900--2999) 30 Department of Homeland Security, Homeland Security Acquisition Regulation (HSAR) (Parts 3000--3099) 34 Department of Education Acquisition Regulation (Parts 3400--3499) 51 Department of the Army Acquisition Regulations (Parts 5100--5199) [Reserved] 52 Department of the Navy Acquisition Regulations (Parts 5200--5299) 53 Department of the Air Force Federal Acquisition Regulation Supplement (Parts 5300--5399) [Reserved] 54 Defense Logistics Agency, Department of Defense (Parts 5400--5499) 57 African Development Foundation (Parts 5700--5799) 61 Civilian Board of Contract Appeals, General Services Administration (Parts 6100--6199) 99 Cost Accounting Standards Board, Office of Federal Procurement Policy, Office of Management and Budget (Parts 9900--9999) Title 49--Transportation Subtitle A--Office of the Secretary of Transportation (Parts 1--99) Subtitle B--Other Regulations Relating to Transportation I Pipeline and Hazardous Materials Safety Administration, Department of Transportation (Parts 100--199) II Federal Railroad Administration, Department of Transportation (Parts 200--299) III Federal Motor Carrier Safety Administration, Department of Transportation (Parts 300--399) IV Coast Guard, Department of Homeland Security (Parts 400--499) V National Highway Traffic Safety Administration, Department of Transportation (Parts 500--599) VI Federal Transit Administration, Department of Transportation (Parts 600--699) VII National Railroad Passenger Corporation (AMTRAK) (Parts 700--799) VIII National Transportation Safety Board (Parts 800--999) X Surface Transportation Board (Parts 1000--1399) XI Research and Innovative Technology Administration, Department of Transportation (Parts 1400--1499) [Reserved] XII Transportation Security Administration, Department of Homeland Security (Parts 1500--1699) [[Page 700]] Title 50--Wildlife and Fisheries I United States Fish and Wildlife Service, Department of the Interior (Parts 1--199) II National Marine Fisheries Service, National Oceanic and Atmospheric Administration, Department of Commerce (Parts 200--299) III International Fishing and Related Activities (Parts 300--399) IV Joint Regulations (United States Fish and Wildlife Service, Department of the Interior and National Marine Fisheries Service, National Oceanic and Atmospheric Administration, Department of Commerce); Endangered Species Committee Regulations (Parts 400--499) V Marine Mammal Commission (Parts 500--599) VI Fishery Conservation and Management, National Oceanic and Atmospheric Administration, Department of Commerce (Parts 600--699) [[Page 701]] Alphabetical List of Agencies Appearing in the CFR (Revised as of January 1, 2024) CFR Title, Subtitle or Agency Chapter Administrative Conference of the United States 1, III Advisory Council on Historic Preservation 36, VIII Advocacy and Outreach, Office of 7, XXV Afghanistan Reconstruction, Special Inspector 5, LXXXIII General for African Development Foundation 22, XV Federal Acquisition Regulation 48, 57 Agency for International Development 2, VII; 22, II Federal Acquisition Regulation 48, 7 Agricultural Marketing Service 7, I, VIII, IX, X, XI; 9, II Agricultural Research Service 7, V Agriculture, Department of 2, IV; 5, LXXIII Advocacy and Outreach, Office of 7, XXV Agricultural Marketing Service 7, I, VIII, IX, X, XI; 9, II Agricultural Research Service 7, V Animal and Plant Health Inspection Service 7, III; 9, I Chief Financial Officer, Office of 7, XXX Commodity Credit Corporation 7, XIV Economic Research Service 7, XXXVII Energy Policy and New Uses, Office of 2, IX; 7, XXIX Environmental Quality, Office of 7, XXXI Farm Service Agency 7, VII, XVIII Federal Acquisition Regulation 48, 4 Federal Crop Insurance Corporation 7, IV Food and Nutrition Service 7, II Food Safety and Inspection Service 9, III Foreign Agricultural Service 7, XV Forest Service 36, II Information Resources Management, Office of 7, XXVII Inspector General, Office of 7, XXVI National Agricultural Library 7, XLI National Agricultural Statistics Service 7, XXXVI National Institute of Food and Agriculture 7, XXXIV Natural Resources Conservation Service 7, VI Operations, Office of 7, XXVIII Procurement and Property Management, Office of 7, XXXII Rural Business-Cooperative Service 7, XVIII, XLII Rural Development Administration 7, XLII Rural Housing Service 7, XVIII, XXXV Rural Utilities Service 7, XVII, XVIII, XLII Secretary of Agriculture, Office of 7, Subtitle A Transportation, Office of 7, XXXIII World Agricultural Outlook Board 7, XXXVIII Air Force, Department of 32, VII Federal Acquisition Regulation Supplement 48, 53 Air Transportation Stabilization Board 14, VI Alcohol and Tobacco Tax and Trade Bureau 27, I Alcohol, Tobacco, Firearms, and Explosives, 27, II Bureau of AMTRAK 49, VII American Battle Monuments Commission 36, IV American Indians, Office of the Special Trustee 25, VII Animal and Plant Health Inspection Service 7, III; 9, I Appalachian Regional Commission 5, IX Architectural and Transportation Barriers 36, XI Compliance Board [[Page 702]] Arctic Research Commission 45, XXIII Armed Forces Retirement Home 5, XI; 38, II Army, Department of 32, V Engineers, Corps of 33, II; 36, III Federal Acquisition Regulation 48, 51 Benefits Review Board 20, VII Bilingual Education and Minority Languages 34, V Affairs, Office of Blind or Severely Disabled, Committee for 41, 51 Purchase from People Who Are Federal Acquisition Regulation 48, 19 Career, Technical, and Adult Education, Office 34, IV of Census Bureau 15, I Centers for Medicare & Medicaid Services 42, IV Central Intelligence Agency 32, XIX Chemical Safety and Hazard Investigation Board 40, VI Chief Financial Officer, Office of 7, XXX Child Support Enforcement, Office of 45, III Children and Families, Administration for 45, II, III, IV, X, XIII Civil Rights, Commission on 5, LXVIII; 45, VII Civil Rights, Office for 34, I Coast Guard 33, I; 46, I; 49, IV Coast Guard (Great Lakes Pilotage) 46, III Commerce, Department of 2, XIII; 44, IV; 50, VI Census Bureau 15, I Economic Affairs, Office of the Under- 15, XV Secretary for Economic Analysis, Bureau of 15, VIII Economic Development Administration 13, III Emergency Management and Assistance 44, IV Federal Acquisition Regulation 48, 13 Foreign-Trade Zones Board 15, IV Industry and Security, Bureau of 15, VII International Trade Administration 15, III; 19, III National Institute of Standards and Technology 15, II; 37, IV National Marine Fisheries Service 50, II, IV National Oceanic and Atmospheric 15, IX; 50, II, III, IV, Administration VI National Technical Information Service 15, XI National Telecommunications and Information 15, XXIII; 47, III, IV Administration National Weather Service 15, IX Patent and Trademark Office, United States 37, I Secretary of Commerce, Office of 15, Subtitle A Commercial Space Transportation 14, III Commodity Credit Corporation 7, XIV Commodity Futures Trading Commission 5, XLI; 17, I Community Planning and Development, Office of 24, V, VI Assistant Secretary for Community Services, Office of 45, X Comptroller of the Currency 12, I Construction Industry Collective Bargaining 29, IX Commission Consumer Financial Protection Bureau 5, LXXXIV; 12, X Consumer Product Safety Commission 5, LXXI; 16, II Copyright Royalty Board 37, III Corporation for National and Community Service 2, XXII; 45, XII, XXV Cost Accounting Standards Board 48, 99 Council on Environmental Quality 40, V Council of the Inspectors General on Integrity 5, XCVIII and Efficiency Court Services and Offender Supervision Agency 5, LXX; 28, VIII for the District of Columbia Customs and Border Protection 19, I Defense, Department of 2, XI; 5, XXVI; 32, Subtitle A; 40, VII Advanced Research Projects Agency 32, I Air Force Department 32, VII Army Department 32, V; 33, II; 36, III; 48, 51 Defense Acquisition Regulations System 48, 2 Defense Intelligence Agency 32, I [[Page 703]] Defense Logistics Agency 32, I, XII; 48, 54 Engineers, Corps of 33, II; 36, III National Imagery and Mapping Agency 32, I Navy, Department of 32, VI; 48, 52 Secretary of Defense, Office of 2, XI; 32, I Defense Contract Audit Agency 32, I Defense Intelligence Agency 32, I Defense Logistics Agency 32, XII; 48, 54 Defense Nuclear Facilities Safety Board 10, XVII Delaware River Basin Commission 18, III Denali Commission 45, IX Disability, National Council on 5, C; 34, XII District of Columbia, Court Services and 5, LXX; 28, VIII Offender Supervision Agency for the Drug Enforcement Administration 21, II East-West Foreign Trade Board 15, XIII Economic Affairs, Office of the Under-Secretary 15, XV for Economic Analysis, Bureau of 15, VIII Economic Development Administration 13, III Economic Research Service 7, XXXVII Education, Department of 2, XXXIV; 5, LIII Bilingual Education and Minority Languages 34, V Affairs, Office of Career, Technical, and Adult Education, Office 34, IV of Civil Rights, Office for 34, I Educational Research and Improvement, Office 34, VII of Elementary and Secondary Education, Office of 34, II Federal Acquisition Regulation 48, 34 Postsecondary Education, Office of 34, VI Secretary of Education, Office of 34, Subtitle A Special Education and Rehabilitative Services, 34, III Office of Educational Research and Improvement, Office of 34, VII Election Assistance Commission 2, LVIII; 11, II Elementary and Secondary Education, Office of 34, II Emergency Oil and Gas Guaranteed Loan Board 13, V Emergency Steel Guarantee Loan Board 13, IV Employee Benefits Security Administration 29, XXV Employees' Compensation Appeals Board 20, IV Employees Loyalty Board 5, V Employment and Training Administration 20, V Employment Policy, National Commission for 1, IV Employment Standards Administration 20, VI Endangered Species Committee 50, IV Energy, Department of 2, IX; 5, XXIII; 10, II, III, X Federal Acquisition Regulation 48, 9 Federal Energy Regulatory Commission 5, XXIV; 18, I Property Management Regulations 41, 109 Energy, Office of 7, XXIX Engineers, Corps of 33, II; 36, III Engraving and Printing, Bureau of 31, VI Environmental Protection Agency 2, XV; 5, LIV; 40, I, IV, VII Federal Acquisition Regulation 48, 15 Property Management Regulations 41, 115 Environmental Quality, Office of 7, XXXI Equal Employment Opportunity Commission 5, LXII; 29, XIV Equal Opportunity, Office of Assistant Secretary 24, I for Executive Office of the President 3, I Environmental Quality, Council on 40, V Management and Budget, Office of 2, Subtitle A; 5, III, LXXVII; 14, VI; 48, 99 National Drug Control Policy, Office of 2, XXXVI; 21, III National Security Council 32, XXI; 47, II Presidential Documents 3 Science and Technology Policy, Office of 32, XXIV; 47, II Trade Representative, Office of the United 15, XX States [[Page 704]] Export-Import Bank of the United States 2, XXXV; 5, LII; 12, IV Family Assistance, Office of 45, II Farm Credit Administration 5, XXXI; 12, VI Farm Credit System Insurance Corporation 5, XXX; 12, XIV Farm Service Agency 7, VII, XVIII Federal Acquisition Regulation 48, 1 Federal Acquisition Security Council 41, 201 Federal Aviation Administration 14, I Commercial Space Transportation 14, III Federal Claims Collection Standards 31, IX Federal Communications Commission 2, LX; 5, XXIX; 47, I Federal Contract Compliance Programs, Office of 41, 60 Federal Crop Insurance Corporation 7, IV Federal Deposit Insurance Corporation 5, XXII; 12, III Federal Election Commission 5, XXXVII; 11, I Federal Emergency Management Agency 44, I Federal Employees Group Life Insurance Federal 48, 21 Acquisition Regulation Federal Employees Health Benefits Acquisition 48, 16 Regulation Federal Energy Regulatory Commission 5, XXIV; 18, I Federal Financial Institutions Examination 12, XI Council Federal Financing Bank 12, VIII Federal Highway Administration 23, I, II Federal Home Loan Mortgage Corporation 1, IV Federal Housing Enterprise Oversight Office 12, XVII Federal Housing Finance Agency 5, LXXX; 12, XII Federal Labor Relations Authority 5, XIV, XLIX; 22, XIV Federal Law Enforcement Training Center 31, VII Federal Management Regulation 41, 102 Federal Maritime Commission 46, IV Federal Mediation and Conciliation Service 5, CIII; 29, XII Federal Mine Safety and Health Review Commission 5, LXXIV; 29, XXVII Federal Motor Carrier Safety Administration 49, III Federal Permitting Improvement Steering Council 40, IX Federal Prison Industries, Inc. 28, III Federal Procurement Policy Office 48, 99 Federal Property Management Regulations 41, 101 Federal Railroad Administration 49, II Federal Register, Administrative Committee of 1, I Federal Register, Office of 1, II Federal Reserve System 12, II Board of Governors 5, LVIII Federal Retirement Thrift Investment Board 5, VI, LXXVI Federal Service Impasses Panel 5, XIV Federal Trade Commission 5, XLVII; 16, I Federal Transit Administration 49, VI Federal Travel Regulation System 41, Subtitle F Financial Crimes Enforcement Network 31, X Financial Research Office 12, XVI Financial Stability Oversight Council 12, XIII Fine Arts, Commission of 45, XXI Fiscal Service 31, II Fish and Wildlife Service, United States 50, I, IV Food and Drug Administration 21, I Food and Nutrition Service 7, II Food Safety and Inspection Service 9, III Foreign Agricultural Service 7, XV Foreign Assets Control, Office of 31, V Foreign Claims Settlement Commission of the 45, V United States Foreign Service Grievance Board 22, IX Foreign Service Impasse Disputes Panel 22, XIV Foreign Service Labor Relations Board 22, XIV Foreign-Trade Zones Board 15, IV Forest Service 36, II General Services Administration 5, LVII; 41, 105 Contract Appeals, Board of 48, 61 Federal Acquisition Regulation 48, 5 [[Page 705]] Federal Management Regulation 41, 102 Federal Property Management Regulations 41, 101 Federal Travel Regulation System 41, Subtitle F General 41, 300 Payment From a Non-Federal Source for Travel 41, 304 Expenses Payment of Expenses Connected With the Death 41, 303 of Certain Employees Relocation Allowances 41, 302 Temporary Duty (TDY) Travel Allowances 41, 301 Geological Survey 30, IV Government Accountability Office 4, I Government Ethics, Office of 5, XVI Government National Mortgage Association 24, III Grain Inspection, Packers and Stockyards 7, VIII; 9, II Administration Great Lakes St. Lawrence Seaway Development 33, IV Corporation Gulf Coast Ecosystem Restoration Council 2, LIX; 40, VIII Harry S. Truman Scholarship Foundation 45, XVIII Health and Human Services, Department of 2, III; 5, XLV; 45, Subtitle A Centers for Medicare & Medicaid Services 42, IV Child Support Enforcement, Office of 45, III Children and Families, Administration for 45, II, III, IV, X, XIII Community Services, Office of 45, X Family Assistance, Office of 45, II Federal Acquisition Regulation 48, 3 Food and Drug Administration 21, I Indian Health Service 25, V Inspector General (Health Care), Office of 42, V Public Health Service 42, I Refugee Resettlement, Office of 45, IV Homeland Security, Department of 2, XXX; 5, XXXVI; 6, I; 8, I Coast Guard 33, I; 46, I; 49, IV Coast Guard (Great Lakes Pilotage) 46, III Customs and Border Protection 19, I Federal Emergency Management Agency 44, I Human Resources Management and Labor Relations 5, XCVII Systems Immigration and Customs Enforcement Bureau 19, IV Transportation Security Administration 49, XII HOPE for Homeowners Program, Board of Directors 24, XXIV of Housing and Urban Development, Department of 2, XXIV; 5, LXV; 24, Subtitle B Community Planning and Development, Office of 24, V, VI Assistant Secretary for Equal Opportunity, Office of Assistant 24, I Secretary for Federal Acquisition Regulation 48, 24 Federal Housing Enterprise Oversight, Office 12, XVII of Government National Mortgage Association 24, III Housing--Federal Housing Commissioner, Office 24, II, VIII, X, XX of Assistant Secretary for Housing, Office of, and Multifamily Housing 24, IV Assistance Restructuring, Office of Inspector General, Office of 24, XII Public and Indian Housing, Office of Assistant 24, IX Secretary for Secretary, Office of 24, Subtitle A, VII Housing--Federal Housing Commissioner, Office of 24, II, VIII, X, XX Assistant Secretary for Housing, Office of, and Multifamily Housing 24, IV Assistance Restructuring, Office of Immigration and Customs Enforcement Bureau 19, IV Immigration Review, Executive Office for 8, V Independent Counsel, Office of 28, VII Independent Counsel, Offices of 28, VI Indian Affairs, Bureau of 25, I, V Indian Affairs, Office of the Assistant 25, VI Secretary Indian Arts and Crafts Board 25, II [[Page 706]] Indian Health Service 25, V Industry and Security, Bureau of 15, VII Information Resources Management, Office of 7, XXVII Information Security Oversight Office, National 32, XX Archives and Records Administration Inspector General Agriculture Department 7, XXVI Health and Human Services Department 42, V Housing and Urban Development Department 24, XII, XV Institute of Peace, United States 22, XVII Intellectual Property Enforcement Coordinator, 5, CIV Office of Inter-American Foundation 5, LXIII; 22, X Interior, Department of 2, XIV American Indians, Office of the Special 25, VII Trustee Endangered Species Committee 50, IV Federal Acquisition Regulation 48, 14 Federal Property Management Regulations System 41, 114 Fish and Wildlife Service, United States 50, I, IV Geological Survey 30, IV Indian Affairs, Bureau of 25, I, V Indian Affairs, Office of the Assistant 25, VI Secretary Indian Arts and Crafts Board 25, II Land Management, Bureau of 43, II National Indian Gaming Commission 25, III National Park Service 36, I Natural Resource Revenue, Office of 30, XII Ocean Energy Management, Bureau of 30, V Reclamation, Bureau of 43, I Safety and Environmental Enforcement, Bureau 30, II of Secretary of the Interior, Office of 2, XIV; 43, Subtitle A Surface Mining Reclamation and Enforcement, 30, VII Office of Internal Revenue Service 26, I International Boundary and Water Commission, 22, XI United States and Mexico, United States Section International Development, United States Agency 22, II for Federal Acquisition Regulation 48, 7 International Development Cooperation Agency, 22, XII United States International Development Finance Corporation, 5, XXXIII; 22, VII U.S. International Joint Commission, United States 22, IV and Canada International Organizations Employees Loyalty 5, V Board International Trade Administration 15, III; 19, III International Trade Commission, United States 19, II Interstate Commerce Commission 5, XL Investment Security, Office of 31, VIII James Madison Memorial Fellowship Foundation 45, XXIV Japan-United States Friendship Commission 22, XVI Joint Board for the Enrollment of Actuaries 20, VIII Justice, Department of 2, XXVIII; 5, XXVIII; 28, I, XI; 40, IV Alcohol, Tobacco, Firearms, and Explosives, 27, II Bureau of Drug Enforcement Administration 21, II Federal Acquisition Regulation 48, 28 Federal Claims Collection Standards 31, IX Federal Prison Industries, Inc. 28, III Foreign Claims Settlement Commission of the 45, V United States Immigration Review, Executive Office for 8, V Independent Counsel, Offices of 28, VI Prisons, Bureau of 28, V Property Management Regulations 41, 128 Labor, Department of 2, XXIX; 5, XLII Benefits Review Board 20, VII Employee Benefits Security Administration 29, XXV Employees' Compensation Appeals Board 20, IV Employment and Training Administration 20, V Federal Acquisition Regulation 48, 29 [[Page 707]] Federal Contract Compliance Programs, Office 41, 60 of Federal Procurement Regulations System 41, 50 Labor-Management Standards, Office of 29, II, IV Mine Safety and Health Administration 30, I Occupational Safety and Health Administration 29, XVII Public Contracts 41, 50 Secretary of Labor, Office of 29, Subtitle A Veterans' Employment and Training Service, 41, 61; 20, IX Office of the Assistant Secretary for Wage and Hour Division 29, V Workers' Compensation Programs, Office of 20, I, VI Labor-Management Standards, Office of 29, II, IV Land Management, Bureau of 43, II Legal Services Corporation 45, XVI Libraries and Information Science, National 45, XVII Commission on Library of Congress 36, VII Copyright Royalty Board 37, III U.S. Copyright Office 37, II Management and Budget, Office of 5, III, LXXVII; 14, VI; 48, 99 Marine Mammal Commission 50, V Maritime Administration 46, II Merit Systems Protection Board 5, II, LXIV Micronesian Status Negotiations, Office for 32, XXVII Military Compensation and Retirement 5, XCIX Modernization Commission Millennium Challenge Corporation 22, XIII Mine Safety and Health Administration 30, I Minority Business Development Agency 15, XIV Miscellaneous Agencies 1, IV Monetary Offices 31, I Morris K. Udall Scholarship and Excellence in 36, XVI National Environmental Policy Foundation Museum and Library Services, Institute of 2, XXXI National Aeronautics and Space Administration 2, XVIII; 5, LIX; 14, V Federal Acquisition Regulation 48, 18 National Agricultural Library 7, XLI National Agricultural Statistics Service 7, XXXVI National and Community Service, Corporation for 2, XXII; 45, XII, XXV National Archives and Records Administration 2, XXVI; 5, LXVI; 36, XII Information Security Oversight Office 32, XX National Capital Planning Commission 1, IV, VI National Counterintelligence Center 32, XVIII National Credit Union Administration 5, LXXXVI; 12, VII National Crime Prevention and Privacy Compact 28, IX Council National Drug Control Policy, Office of 2, XXXVI; 21, III National Endowment for the Arts 2, XXXII National Endowment for the Humanities 2, XXXIII National Foundation on the Arts and the 45, XI Humanities National Geospatial-Intelligence Agency 32, I National Highway Traffic Safety Administration 23, II, III; 47, VI; 49, V National Imagery and Mapping Agency 32, I National Indian Gaming Commission 25, III National Institute of Food and Agriculture 7, XXXIV National Institute of Standards and Technology 15, II; 37, IV National Intelligence, Office of Director of 5, IV; 32, XVII National Labor Relations Board 5, LXI; 29, I National Marine Fisheries Service 50, II, IV National Mediation Board 5, CI; 29, X National Oceanic and Atmospheric Administration 15, IX; 50, II, III, IV, VI National Park Service 36, I National Railroad Adjustment Board 29, III National Railroad Passenger Corporation (AMTRAK) 49, VII National Science Foundation 2, XXV; 5, XLIII; 45, VI Federal Acquisition Regulation 48, 25 National Security Council 32, XXI; 47, II [[Page 708]] National Technical Information Service 15, XI National Telecommunications and Information 15, XXIII; 47, III, IV, V Administration National Transportation Safety Board 49, VIII Natural Resource Revenue, Office of 30, XII Natural Resources Conservation Service 7, VI Navajo and Hopi Indian Relocation, Office of 25, IV Navy, Department of 32, VI Federal Acquisition Regulation 48, 52 Neighborhood Reinvestment Corporation 24, XXV Northeast Interstate Low-Level Radioactive Waste 10, XVIII Commission Nuclear Regulatory Commission 2, XX; 5, XLVIII; 10, I Federal Acquisition Regulation 48, 20 Occupational Safety and Health Administration 29, XVII Occupational Safety and Health Review Commission 29, XX Ocean Energy Management, Bureau of 30, V Oklahoma City National Memorial Trust 36, XV Operations Office 7, XXVIII Patent and Trademark Office, United States 37, I Payment From a Non-Federal Source for Travel 41, 304 Expenses Payment of Expenses Connected With the Death of 41, 303 Certain Employees Peace Corps 2, XXXVII; 22, III Pennsylvania Avenue Development Corporation 36, IX Pension Benefit Guaranty Corporation 29, XL Personnel Management, Office of 5, I, IV, XXXV; 45, VIII Federal Acquisition Regulation 48, 17 Federal Employees Group Life Insurance Federal 48, 21 Acquisition Regulation Federal Employees Health Benefits Acquisition 48, 16 Regulation Human Resources Management and Labor Relations 5, XCVII Systems, Department of Homeland Security Pipeline and Hazardous Materials Safety 49, I Administration Postal Regulatory Commission 5, XLVI; 39, III Postal Service, United States 5, LX; 39, I Postsecondary Education, Office of 34, VI President's Commission on White House 1, IV Fellowships Presidential Documents 3 Presidio Trust 36, X Prisons, Bureau of 28, V Privacy and Civil Liberties Oversight Board 6, X Procurement and Property Management, Office of 7, XXXII Public and Indian Housing, Office of Assistant 24, IX Secretary for Public Contracts, Department of Labor 41, 50 Public Health Service 42, I Railroad Retirement Board 20, II Reclamation, Bureau of 43, I Refugee Resettlement, Office of 45, IV Relocation Allowances 41, 302 Research and Innovative Technology 49, XI Administration Rural Business-Cooperative Service 7, XVIII, XLII, L Rural Development Administration 7, XLII Rural Housing Service 7, XVIII, XXXV, L Rural Utilities Service 7, XVII, XVIII, XLII, L Safety and Environmental Enforcement, Bureau of 30, II Science and Technology Policy, Office of 32, XXIV; 47, II Secret Service 31, IV Securities and Exchange Commission 5, XXXIV; 17, II Selective Service System 32, XVI Small Business Administration 2, XXVII; 13, I Smithsonian Institution 36, V Social Security Administration 2, XXIII; 20, III; 48, 23 Soldiers' and Airmen's Home, United States 5, XI Special Counsel, Office of 5, VIII Special Education and Rehabilitative Services, 34, III Office of State, Department of 2, VI; 22, I; 28, XI [[Page 709]] Federal Acquisition Regulation 48, 6 Surface Mining Reclamation and Enforcement, 30, VII Office of Surface Transportation Board 49, X Susquehanna River Basin Commission 18, VIII Tennessee Valley Authority 5, LXIX; 18, XIII Trade Representative, United States, Office of 15, XX Transportation, Department of 2, XII; 5, L Commercial Space Transportation 14, III Emergency Management and Assistance 44, IV Federal Acquisition Regulation 48, 12 Federal Aviation Administration 14, I Federal Highway Administration 23, I, II Federal Motor Carrier Safety Administration 49, III Federal Railroad Administration 49, II Federal Transit Administration 49, VI Great Lakes St. Lawrence Seaway Development 33, IV Corporation Maritime Administration 46, II National Highway Traffic Safety Administration 23, II, III; 47, IV; 49, V Pipeline and Hazardous Materials Safety 49, I Administration Secretary of Transportation, Office of 14, II; 49, Subtitle A Transportation Statistics Bureau 49, XI Transportation, Office of 7, XXXIII Transportation Security Administration 49, XII Transportation Statistics Bureau 49, XI Travel Allowances, Temporary Duty (TDY) 41, 301 Treasury, Department of the 2, X; 5, XXI; 12, XV; 17, IV; 31, IX Alcohol and Tobacco Tax and Trade Bureau 27, I Community Development Financial Institutions 12, XVIII Fund Comptroller of the Currency 12, I Customs and Border Protection 19, I Engraving and Printing, Bureau of 31, VI Federal Acquisition Regulation 48, 10 Federal Claims Collection Standards 31, IX Federal Law Enforcement Training Center 31, VII Financial Crimes Enforcement Network 31, X Fiscal Service 31, II Foreign Assets Control, Office of 31, V Internal Revenue Service 26, I Investment Security, Office of 31, VIII Monetary Offices 31, I Secret Service 31, IV Secretary of the Treasury, Office of 31, Subtitle A Truman, Harry S. Scholarship Foundation 45, XVIII United States Agency for Global Media 22, V United States and Canada, International Joint 22, IV Commission United States and Mexico, International Boundary 22, XI and Water Commission, United States Section U.S. Copyright Office 37, II U.S. Office of Special Counsel 5, CII Utah Reclamation Mitigation and Conservation 43, III Commission Veterans Affairs, Department of 2, VIII; 38, I Federal Acquisition Regulation 48, 8 Veterans' Employment and Training Service, 41, 61; 20, IX Office of the Assistant Secretary for Vice President of the United States, Office of 32, XXVIII Wage and Hour Division 29, V Water Resources Council 18, VI Workers' Compensation Programs, Office of 20, I, VII World Agricultural Outlook Board 7, XXXVIII [[Page 711]] List of CFR Sections Affected All changes in this volume of the Code of Federal Regulations (CFR) that were made by documents published in the Federal Register since January 1, 2019 are enumerated in the following list. Entries indicate the nature of the changes effected. Page numbers refer to Federal Register pages. The user should consult the entries for chapters, parts and subparts as well as sections for revisions. For changes to this volume of the CFR prior to this listing, consult the annual edition of the monthly List of CFR Sections Affected (LSA). The LSA is available at www.govinfo.gov. For changes to this volume of the CFR prior to 2001, see the ``List of CFR Sections Affected, 1949-1963, 1964-1972, 1973-1985, and 1986-2000'' published in 11 separate volumes. The ``List of CFR Sections Affected 1986-2000'' is available at www.govinfo.gov. 2019 12 CFR 84 FR Page Chapter II Chapter II Policy statement........................................12049 201 Authority citation revised.......................................512 201.51 (a) and (b) revised......................512, 39724, 52753, 59924 204.4 (f) revised..................................................64706 204.10 (b)(5) revised....................513, 20542, 39725, 52754, 59926 206.2 (g) revised..................................................61796 206.5 (a)(4) added.................................................61796 208 Authority citation revised..............................29051, 61796 208.2 (d) revised...................................................4240 208.2 Regulation at 84 FR 4240 eff. date delayed to 7-1-19.........11879 208.2 (d)(3) added.................................................61796 208.25 (b)(7) through (11) revised; (b)(12), (13), (14), and (c)(3) added................................................4970 208.43 (a) and (b) revised.........................................61796 208.43 Correction: (a), (b) introductory text, and (1) revised.....70887 208.101--208.105 (Subpart I) Removed...............................21692 208.120--208.124 (Subpart K) Added.................................29051 209.2 Amended; eff. 1-15-2020......................................68326 209.3 Amended; eff. 1-15-2020......................................68326 209.4 Amended; eff. 1-15-2020......................................68326 211 Nomenclature change............................................61797 211.2 (c)(1) revised................................................4241 211.2 Regulation at 84 FR 4241 eff. date delayed to 7-1-19.........11879 211.2 (b), (c), and (x) revised....................................61797 211.9 (a) footnote 5 redesignated as (a) footnote 1................61797 211.24 (k) removed.................................................21692 211.43 (c)(4) revised...............................................4241 211.43 Regulation at 84 FR 4241 eff. date delayed to 7-1-19........11879 212.3 (c) amended..................................................54471 213 Supplement I amended...........................................58018 215.2 (i) revised...................................................4241 215.2 Regulation at 84 FR 4241 eff. date delayed to 7-1-19.........11879 215.2 (i)(3) added.................................................61797 217 Authority citation revised.....................................61797 217.1 (f)(5) added.................................................59269 217.2 Amended.........................................4241, 35259, 59270 217.2 Regulation at 84 FR 4241 eff. date delayed to 7-1-19.........11879 217.2 Amended; eff. 4-1-20.........................................68032 217.10 (c)(3)(ii)(A) amended........................................4242 217.10 Regulation at 84 FR 4242 eff. date delayed to 7-1-19........11879 217.10 (c)(4)(ii)(H) revised.......................................35259 217.10 (a)(5), (c) introductory text, and (4)(i) introductory text revised....................................................59271 217.10 (a) revised.................................................61797 217.11 (a)(2)(i), (iv), (3)(i), and Table 1 revised................35259 [[Page 712]] 217.11 (b)(1) introductory text and (ii) revised...................59271 217.12 Added.......................................................61797 217.20 (d)(3) amended...............................................4242 217.20 Regulation at 84 FR 4242 eff. date delayed to 7-1-19........11879 217.20 (b)(1)(iii), (4), (c)(2), (d)(2), and (5) revised; (f) added......................................................35260 217.21 Revised; eff. 4-1-20........................................35260 217.21 Regulation at 84 FR 35260 eff. date revised as 1-1-20.......61804 217.22 (c) footnote 23 amended......................................4242 217.22 Regulation at 84 FR 4242 eff. date delayed to 7-1-19........11879 217.22 (a)(1)(i), (c), (d), (g), and (h) revised; eff. 4-1-20......35261 217.22 (b)(2)(ii) revised..........................................59271 217.22 (f) revised.................................................61798 217.22 Regulation at 84 FR 35261 eff. date revised as 1-1-20.......61804 217.32 (b), (d)(2), (3)(ii), (k), and (l) revised..................35264 217.34 (c) revised.................................................35265 217.35 (b)(3)(ii), (4)(ii), (c)(3)(ii), and (4)(ii) revised........35266 217.36 (c) revised.................................................35266 217.37 (b)(2)(i) revised...........................................35266 217.38 (e)(2) revised..............................................35266 217.42 (j)(2)(ii)(A) revised.......................................35266 217.52 (b)(1) and (4) revised......................................35266 217.61 Revised.....................................................35267 217.63 Table 5 amended..............................................4242 217.63 Regulation at 84 FR 4242 eff. date delayed to 7-1-19........11879 217.63 Table 3 and Table 8 revised.................................35267 217.63 (d) and (e) added...........................................59271 217.100 (b)(1) revised; (b)(2) removed; (b)(3) redesignated as new (b)(2).....................................................59271 217.124 (a) and (b)(2) amended......................................4242 217.124 Regulation at 84 FR 4242 eff. date delayed to 7-1-19.......11879 217.131 (d)(2) revised.............................................35268 217.133 (b)(3)(ii) and (c)(3)(ii) revised..........................35269 217.152 (b)(5) and (6) revised.....................................35269 217.172 (d)(2) revised.............................................59271 217.173 Table 2, Table 3, and Table 5 amended.......................4242 217.173 Regulation at 84 FR 4242 eff. date delayed to 7-1-19.......11879 217.173 Heading and (a)(2) revised.................................59272 217.202 (b) amended................................................35269 217.210 (b)(2)(ii) and (vii)(A) revised............................35269 217.300 (c)(2) and (3) revised.....................................35269 217.300 (b) and (d) removed; eff. 4-1-20...........................35269 217.300 (g) added..................................................61807 217.300 Regulation at 84 FR 35269 eff. date revised as 1-1-20......61804 217.301 Added.......................................................4243 217.301 Regulation at 84 FR 4243 eff. date delayed to 7-1-19.......11879 217.400 (b)(1), (2) introductory text, and (i) revised; (b)(3) removed....................................................59075 2020 12 CFR 85 FR Page Chapter II Chapter II Notification............................................19077 201.51 (a) and (b) revised..................................13724, 16524 204.2 (c)(1)(ii) removed; (c)(1)(iii) and (iv) redesignated as new (c)(1)(ii) and (iii); (d)(2), (e) introductory text, (2) through (4), and (6) revised; interim......................23447 204.4 (f) revised; interim.........................................16526 204.4 (f) revised; eff. 1-11-21....................................79823 204.10 (b)(5) revised.................................7856, 13725, 16528 208.36 (b)(3) added; interim.......................................77360 208.43 (b)(2)(iv)(B) and (3)(iv)(B) revised; interim...............32989 208.64 (d) added; interim..........................................77360 208.121 Amended; interim...........................................77360 209 Nomenclature change; eff. 1-11-21..............................79390 211.26 (c)(2)(iii) added; interim..................................77360 212.2 (o)(3) added; interim........................................77361 213 Supplement I amended...........................................79392 215 Authority citation revised.....................................22349 215.3 (b)(6) and (7) amended; (b)(8) added; interim................22349 215.3 (b)(8) introductory text and (ii) revised; interim...........43121 217 Authority citation revised.......................20393, 22929, 22938 217 Notification...................................................17721 217 Policy statement...............................................64003 217.2 Amended.................................................4414, 4578 217.2 Amended; interim.............................................20393 217.2 Regulation at 85 FR 20393 eff. date confirmed................68243 217.10 (c)(4)(ii)(A), (B), and (C) revised..........................4416 217.10 (c)(4)(ii) introductory text revised; (c)(4)(ii)(J) added 4578 [[Page 713]] 217.10 (c)(4)(ii)(A), (B)(1), introductory text, (i), (2)(i), and (H) amended; (c)(4)(ii)(B)(2)(i) and (ii) revised..........57961 217.11 Revised.....................................................15596 217.11 (a)(2)(i) revised; interim..................................15916 217.11 Regulation at 85 FR 15916 confirmed.........................63428 217.12 (a)(4) added; interim.......................................77361 217.32 (f) revised..................................................4417 217.32 (a)(1)(iii) added; interim..................................20393 217.32 (f)(1) revised..............................................57961 217.32 Regulation at 85 FR 20393 eff. date confirmed...............68243 217.34 Revised......................................................4417 217.35 (a)(3) and (c)(3)(iii) added; (b)(4)(i) revised..............4419 217.37 (c)(3)(iii), (iv)(A), (C), (c)(4)(i)(B) introductory text, and (1) revised.............................................4419 217.37 (c)(2)(i)(B) amended........................................57961 217.131 (e)(3)(viii) added; interim................................20393 217.131 Regulation at 85 FR 20393 eff. date confirmed..............68243 217.132 (b)(2)(ii)(A)(3), (4), (5), (c) heading, (1), (2), (5) through (8), (d)(10)(i), and (e)(6)(viii) revised; (b)(2)(ii)(A)(6), (7), and (c)(9) through (11) added; (e)(5)(i)(A), (C), (H), and (6)(i)(B) amended; (e)(5)(ii) Table 3 redesignated as Table 4.............................4419 217.132 (c)(8)(iii), (iv), and (9)(i) amended; (c)(9)(ii)(A)(1) and (iv)(A)(3) revised.....................................57961 217.133 (a), (b)(1) , (2), (3), (4)(i), (c)(1), (2), (3), (4)(i), and (d) revised.............................................4426 217.133 (d)(4), (5), (6) introductory text, and (i) through (iii) revised....................................................57962 217.134 (d)(3) amended..............................................4419 217.173 Table 13 amended............................................4428 217.202 (1) introductory text and (i) amended.......................4419 217.210 (e)(1) amended..............................................4419 217.300 (g) and (h) added...........................................4429 217.301 Revised; interim...........................................17733 217.301 Correction: (b)(1), (c)(2) introductory text, (d) introductory text, (2)(i) introductory text, and (ii) introductory text amended..................................29842 217.301 Revised....................................................61589 217.302 Added; interim.............................................16236 217.302 Regulation at 85 FR 16236 eff. date confirmed..............68243 217.303 Added; interim.............................................20586 217.303 Revised; interim...........................................32989 217.304 Added......................................................22929 217.304 (d) added..................................................22938 217.305 Added; interim.............................................20393 217.305 Regulation at 85 FR 20393 eff. date confirmed..............68243 2021 12 CFR 86 FR Page Chapter II 204.2 (aa) revised.................................................29938 204.4 Regulation at 85 FR 16525 confirmed...........................8853 204.4 (f) revised; eff. 1-7-22.....................................69578 204.10 (b) introductory text, (1) through (3), and (d)(1) through (4) revised................................................29938 204.10 (b)(5) revised..............................................38906 204.10 (b)(1) revised; (b)(4), (5), and (d)(5) removed; (d)(6) redesignated as new (d)(5).................................50214 209 Amended; eff. 1-7-22...........................................69579 213 Supplement I amended...........................................67849 215 Authority citation revised......................................9839 215.3 (b)(8)(i) through (iii) revised; interim......................9839 215.3 (b)(8)(i) through (iii) revised; (b)(8)(iv) added............27509 217.2 Amended........................................................731 217.10 (c) revised; (d) redesignated as (e); new (d) added...........732 217.11 Correction: (a)(2)(i) revised................................3762 217.11 (a)(2)(iii), (vi), (3)(i) introductory text, (4), (c) heading, (1)(i), (ii), (iii) introductory text, (iv) introductory text, (v) introductory text, (vi) introductory text, and (2) revised; second (c)(1)(v) redesignated as (c)(1)(vii).................................7938 217.11 Correction: Instruction amended..............................9261 217.20 (c)(3) and (d)(4) redesignated as (c)(3)(i) and (d)(4)(i); (c)(3)(ii) and (d)(4)(ii) added; interim...................15080 217.22 (c), (f), and (h) revised.....................................735 217.121 (c) amended..................................................738 217.132 (c)(7)(iii) and (iv) amended.................................738 [[Page 714]] 217.303 (a) and (e) amended..........................................738 2022 12 CFR 87 FR Page Chapter II 201.51 (a) and (b) revised......22812, 29650, 38646, 48442, 60869, 68888 204.4 (f) revised; eff. 1-3-23.....................................73634 204.10 (b)(1) revised...........22813, 29651, 38647, 48443, 60870, 68889 208 Guidance.......................................................32826 208 Technical correction...........................................36214 209 Heading revised.................................................2030 209 Amended; eff. 1-3-23...........................................73635 209.1 (c) and (d)(3) revised........................................2030 209.3 (d)(1) through (3) redesignated as (d)(2), (3), and (5); new (d)(1) and (4) added; heading, (a), (c), (d) heading, and new (5) revised.............................................2030 209.4 (a), (b), (c)(1) introductory text, and (d)(1) introductory text revised; (c)(2) and (3) redesignated as (c)(3) and (4); new (c)(2) added.......................................2030 210 Heading revised................................................34357 210.2 Revised......................................................34357 210.25 (b)(2) and (c) revised......................................34358 210.26 Revised.....................................................34358 210.28 (b)(1) through (3) revised..................................34359 210.30 (b) and (c) revised.........................................34359 210.32 Heading and (b) revised.....................................34359 210.25--210.32 (Subpart B) Heading and subpart amended.............34358 210.25--210.32 (Subpart B) Appendix A amended......................34359 210.25--210.32 (Subpart B) Appendix B removed......................34362 210.40--210.47 (Subpart C) Added...................................34362 210 Appendix A added...............................................34369 213 Supplement I amended...........................................63668 2023 12 CFR 88 FR Page Chapter II 201.51 (a) and (b) revised...............2195, 8220, 18380, 30216, 50761 204.2 (f)(1)(iv)(E) revised........................................45058 204.4 (f) revised..................................................83317 204.10 (b)(1) revised....................2196, 8221, 18381, 30217, 50762 204.125 Heading and introductory text revised......................45058 208 Policy statement...............................................25479 208.112 Added.......................................................7851 209.3 Amended......................................................83318 209.4 Amended......................................................83318 213 Supplement I amended...........................................83320 217.1 (c)(1) revised; (g) added....................................82967 217.2 Amended......................................................82968 217.10 (f) added...................................................82969 217.11 (e) added...................................................82969 217.306 Added......................................................82969 217.601--217.608 (Subpart J) Added.................................82969 [all]

usgpo

2024-06-24T00:12:36.948075

BILLS-118hr8275ih

Border Security and Blockchain Technology Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8275 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8275 To require the Secretary of Homeland Security to establish a public blockchain-based system to securely store and share data related to border security, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 7, 2024 Ms. Mace (for herself and Mr. Donalds) introduced the following bill; which was referred to the Committee on Homeland Security _______________________________________________________________________ A BILL To require the Secretary of Homeland Security to establish a public blockchain-based system to securely store and share data related to border security, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Border Security and Blockchain Technology Act''. SEC. 2. BLOCKCHAIN TECHNOLOGY FOR BORDER APPREHENSIONS. (a) Implementation.-- (1) In general.--Not later than 18 months after the date of the enactment of this Act, the Commissioner of U.S. Customs and Border Protection shall select a public blockchain platform that meets the agency's needs and requirements, as set forth in the agency's budgets for fiscal year 2017-2021. (2) Smart contracts.--The Commissioner of U.S. Customs and Border Protection may develop smart contracts that may be used to securely store and share data related to border security. (3) Integration.--The Commissioner of U.S. Customs and Border Protection shall integrate existing systems, such as biometric data and travel documents, with the public blockchain platform selected under paragraph (1). (4) Data verification and integrity.--The Commissioner of U.S. Customs and Border Protection shall utilize blockchain technology to ensure the integrity and immutability of data related to border security operations, including biometric data, visa information, and customs documentation. (5) Enhanced interoperability.--The Commissioner of U.S. Customs and Border Protection shall facilitate secure and efficient data exchange and interoperability between various Federal and international border control and immigration agencies, leveraging blockchain's decentralized nature to enhance collaboration without compromising data security. (6) Data input.--The platform shall be designed to input data in real-time from all relevant Federal Government agencies, including U.S. Customs and Border Protection and U.S. Immigration and Customs Enforcement. (7) Applications.--The public blockchain platform shall be utilized for the following applications to enhance border security operations: (A) Documentation verification.--The platform shall be utilized to securely verify the authenticity of travel and identity documents in real time, reducing fraud and streamlining the entry process. (B) Supply chain security.--The platform shall be utilized to improve the tracking and management of goods through customs, enhancing transparency and efficiency in trade and commerce. (C) Personnel management.--The platform shall be utilized to manage border control personnel deployment and operations securely and efficiently. (D) Real-time data sharing.--The platform shall be utilized to enable secure and instant data sharing among border control agencies, law enforcement, and other relevant government entities to enhance situational awareness and response times. (8) Objectives.--The implementation of the public blockchain platform aims to achieve the following objectives: (A) Enhanced security.--The platform shall trengthen the security of border operations by leveraging blockchain's immutable and encrypted record- keeping capabilities. (B) Improved efficiency.--The platform shall streamline border control processes through faster verification procedures and reduced manual data entry. (C) Increased transparency.--The platform shall provide a transparent and tamper-proof system for the management and oversight of border security operations. (D) Interagency collaboration.--The platform shall facilitate a higher degree of collaboration and data sharing among Federal agencies involved in border security. (b) Oversight and Evaluation.--The Commissioner of U.S. Customs and Border Protection shall establish a system for oversight and evaluation of the implementation of public blockchain technology in border security, including the appointment of a project manager, regular reports to the relevant authorities and an independent evaluation of the project. (c) Security.--The platform shall be designed to ensure the security and confidentiality of sensitive information. (d) Report to Congress.-- (1) In general.--Not later than six months after the selection of a public blockchain platform under subsection (a)(1), the Secretary of Homeland Security shall submit to Congress a report on the implementation of the platform, including a description of the platform's capabilities and any challenges encountered during implementation. (2) Annual report.--Not later than one year after the submission of the report required under paragraph (1) and annually thereafter, the Secretary of Homeland Security shall submit to Congress a report on the ongoing operation and maintenance of the platform. (e) Definitions.--In this section: (1) Blockchain.--The term ``blockchain'' means a distributed ledger technology that uses cryptography to secure and validate transactions and data. (2) Border apprehensions.--The term ``border apprehensions'' means the arrest and detainment of individuals by Federal law enforcement officials for immigration violations at or near the United States border. (3) Border control agencies.--The term ``border control agencies'' means U.S. Customs and Border Protection and any other Government agencies the Secretary of Homeland Security determines is involved in border security. (4) Smart contract.--The term ``smart contract'' means a self-executing contract with the terms of the agreement written into lines of code. <all>

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2024-06-24T00:12:37.012729

BILLS-118hr8326ih

To amend the Agricultural Adjustment Act with respect to the treatment of dates for processing under certain marketing orders.

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8326 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8326 To amend the Agricultural Adjustment Act with respect to the treatment of dates for processing under certain marketing orders. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 8, 2024 Mr. Ruiz introduced the following bill; which was referred to the Committee on Agriculture, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To amend the Agricultural Adjustment Act with respect to the treatment of dates for processing under certain marketing orders. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. TREATMENT OF DATES FOR PROCESSING UNDER MARKETING ORDERS. Section 8e(a) of the Agricultural Adjustment Act (7 U.S.C. 608e- 1(a)), reenacted with amendments by the Agricultural Marketing Agreement Act of 1937, is amended-- (1) by inserting ``including dates for processing,'' after ``dates,''; and (2) by striking ``, other than dates for processing,'' each place it appears. <all>

usgpo

2024-06-24T00:12:37.226163

BILLS-118hr8325ih

Physician and Patient Safety Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8325 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8325 To require the Secretary of Health and Human Services to issue regulations to ensure due process rights for physicians before any termination, restriction, or reduction of the professional activity of such physicians or staff privileges of such physicians. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 8, 2024 Mr. Ruiz (for himself, Mr. Joyce of Pennsylvania, Ms. Porter, and Mr. Murphy) introduced the following bill; which was referred to the Committee on Energy and Commerce _______________________________________________________________________ A BILL To require the Secretary of Health and Human Services to issue regulations to ensure due process rights for physicians before any termination, restriction, or reduction of the professional activity of such physicians or staff privileges of such physicians. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Physician and Patient Safety Act''. SEC. 2. REGULATIONS TO ENSURE DUE PROCESS RIGHTS FOR PHYSICIANS. (a) In General.--The Secretary of Health and Human Services shall issue final regulations to provide that physicians who have been granted medical staff privileges at a hospital have a fair hearing and appellate review through appropriate medical staff mechanisms before any termination, restriction, or reduction of the professional activity of such physicians or staff privileges of such physicians at such hospital. (b) Requirements of Regulations.--The regulations described in subsection (a) shall provide that-- (1) a hearing or appellate review may not be denied through a third-party contract; (2) a physician shall not be requested or required to waive their rights to such a hearing or appellate review as a condition of employment, either with the hospital or with a third-party contractor; and (3) any such hearing or appellate review shall be confidential and not reportable to any entity, including the National Practitioner Data Bank or future workplaces or employers, unless there is an ongoing threat to patient safety, or as otherwise required under the reporting requirements for hospitals established by the National Practitioner Data Bank. (c) Effective Date.--The final regulations promulgated under subsection (a) shall take effect not later than 18 months after the date of enactment of this Act. <all>

usgpo

2024-06-24T00:12:37.317750

BILLS-118hr8332ih

No Student Loan Forgiveness for Antisemitic Criminals Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8332 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8332 To prohibit student loan forgiveness for certain students, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 8, 2024 Mr. Williams of Texas introduced the following bill; which was referred to the Committee on Education and the Workforce, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To prohibit student loan forgiveness for certain students, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``No Student Loan Forgiveness for Antisemitic Criminals Act''. SEC. 2. PROHIBITION ON STUDENT LOAN FORGIVENESS. (a) Findings.--Congress finds the following: (1) Antisemitism is on the rise in the United States and is impacting Jewish students in K-12 schools, colleges, and universities. (2) Jewish and Israeli students have faced physical violence, hate-filled disruptions in the classroom and on campus, calls from students and faculty advocating for the elimination and destruction of Israel, and other forms of persistent harassment. (3) Antisemitic protests have taken over college campuses in the United States. (4) University administrations have failed to address these acts of antisemitism and stop the spread of these pro- terrorist, antisemitic protests. (5) Violent campus protestors should not be bailed out by irresponsible student loan forgiveness. (b) Sense of Congress.--It is the sense of Congress that-- (1) title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d et seq.), prohibits discrimination on the basis of race, color, and national origin in programs and activities receiving Federal financial assistance; (2) while such title does not cover discrimination based solely on religion, individuals who face discrimination based on actual or perceived shared ancestry or ethnic characteristics do not lose protection under such title for also being members of a group that share a common religion; (3) discrimination against Jewish people may give rise to a violation of such title when the discrimination is based on race, color, or national origin, which can include discrimination based on actual or perceived shared ancestry or ethnic characteristics; and (4) the Department of Education relating to ``Improving Income Driven Repayment for the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan (FFEL) Program'' (88 Fed. Reg. 43820 (July 10, 2023)), and such rule shall have no force or effect. (c) Definitions.--In this Act: (1) Antisemitic activities.--The term ``antisemitic activities'' means any actions or behaviors that discriminate against individuals or groups based on their Jewish heritage, religion, or ethnicity. (2) Federal student loan forgiveness.--The term ``Federal student loan forgiveness'' means the forgiveness of Federal student loans under President Biden's income-driven repayment (``IDR'') forgiveness program. (d) Prohibition.-- (1) Any student who is arrested for engaging in antisemitic activities at universities, in communities, or anywhere within the United States shall be barred from receiving Federal student loan forgiveness through President Biden's income- driven repayment forgiveness program. (2) This prohibition shall apply regardless of whether the student is convicted of the charges related to antisemitic activities. (e) Implementation.-- (1) The Secretary of Education shall establish procedures to identify students who have been arrested for engaging in antisemitic activities and ensure their ineligibility for Federal student loan forgiveness through the IDR program. (2) The Secretary of Education shall collaborate with law enforcement agencies, educational institutions, and relevant stakeholders to effectively implement the provisions of this Act. (f) Enforcement.-- (1) Any educational institution found to knowingly provide false information or fail to report incidents of antisemitic activities by its students shall be subject to penalties, including but not limited to fines and loss of all Federal funding. (2) The Department of Education shall conduct periodic audits to monitor compliance with the provisions of this Act and take appropriate enforcement actions against non-compliant entities. (g) Effective Date.--This Act shall take effect 90 days after its enactment into law. <all>

usgpo

2024-06-24T00:12:37.324909

BILLS-118hr8331ih

Essential Caregivers Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8331 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8331 To amend titles XVIII and XIX of the Social Security Act to require skilled nursing facilities, nursing facilities, intermediate care facilities for the intellectually disabled, and inpatient rehabilitation facilities to permit essential caregivers access during any period in which regular visitation is restricted. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 8, 2024 Ms. Tenney (for herself, Mr. Larson of Connecticut, Mr. Fitzpatrick, Mr. Smith of Nebraska, Mr. Rutherford, Mr. Van Orden, Ms. Wild, Mr. Carey, Mr. Lawler, Mr. Cleaver, Ms. Lee of Nevada, Mr. Ciscomani, Mr. Bacon, Mr. Davis of North Carolina, Mr. Cohen, and Mr. Langworthy) introduced the following bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To amend titles XVIII and XIX of the Social Security Act to require skilled nursing facilities, nursing facilities, intermediate care facilities for the intellectually disabled, and inpatient rehabilitation facilities to permit essential caregivers access during any period in which regular visitation is restricted. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Essential Caregivers Act of 2024''. SEC. 2. FINDINGS. Congress finds the following: (1) According to the National Center for Health Statistics of the Centers for Disease Control and Prevention, an estimated 1,300,000 individuals resided in nursing homes in 2020 at the onset of the COVID-19 pandemic and nearly half of all nursing home residents were living with a diagnosis of Alzheimer's or other related dementia. (2) Regulations issued pursuant to the Nursing Home Reform Act of 1987 established basic rights and services for residents of nursing homes, including ``the right to a dignified existence, self-determination, and communication with and access to persons and services inside and outside the facility''. (3) In March of 2020, the Centers for Medicare & Medicaid Services instructed nursing facilities to restrict visitation for all visitors and non-essential healthcare personnel and cancel communal dining and group activities. Long-term care ombudsman program representatives and State surveyors were among those whose access to long-term care facilities was prohibited or extremely restricted despite reopening guidance released by the Centers for Medicare & Medicaid Services in May of 2020. (4) Many long-term care residents declined dramatically or died prematurely from ``failure to thrive'' in isolation. (5) According to the National Consumer Voice for Quality Long-Term Care, in the first year of the COVID-19 pandemic, 1 in 5 healthcare workers resigned, retired, or were fired. This exacerbated the longstanding problem of staff shortages that already existed. Lack of staff, combined with the forced absence of families, many of whom provided informal care and support to residents, resulted in a significant decline in residents' health and well-being. During the pandemic, pressure ulcers in nursing home residents rose by 31 percent, the number of residents experiencing significant weight loss rose by 49 percent, the number of residents reporting feeling down, depressed, or hopeless rose by 40 percent, and the number of residents prescribed antipsychotic medications rose by 77.5 percent. (6) According to the Department of Health and Human Services, loneliness and isolation, such as that experienced by long-term care residents during the COVID-19 pandemic, represent profound threats to an individual's health and well- being. (7) Essential Caregivers provide supplemental care for their loved one, regardless of staff shortages, staff turnover, or emergencies. Essential Caregivers support residents and advocate on their behalf. SEC. 3. RIGHT TO ESSENTIAL CAREGIVERS; ACCESS TO ESSENTIAL CAREGIVERS DURING PERIODS WHEN VISITATION IS OTHERWISE RESTRICTED. (a) Medicare Skilled Nursing Facilities.--Section 1819(c)(3) of the Social Security Act (42 U.S.C. 1395i-3(c)(3)) is amended-- (1) by redesignating subparagraphs (A) through (E) as clauses (i) through (v), respectively; (2) by striking ``A skilled nursing facility must--'' and inserting the following: ``(A) In general.--A skilled nursing facility shall--''; and (3) by adding at the end the following new subparagraph: ``(B) Access to essential caregivers during emergency periods when visitation is otherwise restricted.-- ``(i) Designation of essential caregiver.-- Each skilled nursing facility shall recognize the right of each resident of such facility to-- ``(I) designate and have access to essential caregivers for such resident at all times, including during any period of emergency in which regular visitation is restricted by order of a Federal, State, or local authority or by other operation of law; and ``(II) amend such designation at any time. ``(ii) Presumption of designation.--For purposes of clause (i), in the case of a resident who is unable, by reason of cognitive or mental disability, to make an election described in such clause, the resident representative (as defined in section 483.5 of title 42, Code of Federal Regulations) of such resident shall be permitted to make such designation for such resident. ``(iii) Access to essential caregivers during emergency periods when visitation is otherwise restricted.--During a period of emergency in which regular visitation is restricted by order of a Federal, State, or local authority or by other operation of law, including any period in which a waiver or modification of requirements pursuant to section 1135 is in effect, a skilled nursing facility shall-- ``(I) not deny in-person access to a resident by an essential caregiver of the resident except as provided in this subparagraph; ``(II) allow at least 1 essential caregiver to have access to and provide assistance to such resident at such facility every day and at any time; and ``(III) enforce the agreement described in clause (vii)(III) with respect to an essential caregiver. ``(iv) Restrictions on access.-- ``(I) In general.--During a period of emergency in which regular visitation is restricted by order of a Federal, State, or local authority or by other operation of law, including any period in which a waiver or modification of requirements pursuant to section 1135 is in effect, a skilled nursing facility may deny access to a resident by an essential caregiver of the resident for-- ``(aa) an initial period of not longer than 7 days; and ``(bb) one additional period of not longer than 7 days (in addition to the initial period described in item (aa)) if the department of health of the State in which the facility is located approves the denial of access for such additional period. ``(II) Rule of application.--For purposes of subclause (I), a period of emergency in which regular visitation is restricted by order of a Federal, State, or local authority or by other operation of law shall begin on the date that such order or other operation of law takes effect and shall end on the date that such order or other operation of law expires or is otherwise terminated. During any such period, the maximum number of days for which a skilled nursing facility may deny access to a resident by an essential caregiver of the resident is 7 total days (or, subject to the approval of the department of health of the State in which the facility is located, 14 total days). ``(v) Compliance and notification.-- ``(I) Authority.--No essential caregiver who upholds the agreement described in clause (vii)(III) shall be denied access to the skilled nursing facility of the resident involved. ``(II) Notification.-- If an essential caregiver fails to comply with an agreement with a skilled nursing facility described in clause (vii)(III), the facility must first provide a warning to the essential caregiver and resident in writing citing specific issues of non- compliance and providing clear guidance for corrective measures. ``(III) Enforcement.--If an essential caregiver or resident, after receiving a notification of noncompliance described in subclause (II), fails to take corrective action, the essential caregiver may subsequently be denied access to the resident. In such cases, the facility shall provide to such caregiver and such resident (or health care proxy of such resident), not later than 24 hours after such denial of access occurs, a written explanation as to why such caregiver was denied access to such resident. Such explanation must include the resident's and caregiver's options for appeal under the processes established under clause (vi). ``(vi) Options for residents and caregivers to appeal denials of access.-- ``(I) In general.--Not later than 2 years after the date of enactment of this subparagraph, the Secretary shall issue a final rule establishing a process for residents and caregivers to appeal denials of access. ``(II) Appeals process.--The agency responsible for overseeing the appeals process established under subclause (I) shall-- ``(aa) receive appeals from residents and essential caregivers challenging a decision by a skilled nursing facility to deny access under clause (v); and ``(bb) investigate all such appeals within 48 hours of receipt. ``(III) Burden of proof.--During an appeal received under the appeals process established under subclause (I), if a skilled nursing facility defends a decision to deny access to an essential caregiver under clause (v) on the basis that the essential caregiver violated the agreement described in clause (vii)(III), the skilled nursing facility shall have the burden of proof in demonstrating that the essential caregiver violated such agreement. ``(IV) Resolution of appeal.--With respect to an appeal received under the appeals process established under subclause (I), the agency responsible for overseeing the appeal shall make a determination as to whether a skilled nursing facility violated a requirement or prohibition of this subparagraph within 48 hours of commencing its investigation. If the agency determines that a facility has violated such a requirement or prohibition the agency shall-- ``(aa) require the facility to allow immediate access to the essential caregiver in question; ``(bb) require the facility to establish a corrective action plan to prevent the recurrence of such violation within a 7-day period of receiving notice from the agency; and ``(cc) impose a civil money penalty in an amount to be determined by the agency (not to exceed $5,000) if such facility fails to implement the corrective action plan with the 7-day period specified in item (bb). ``(vii) Definition of essential caregiver.--For purposes of this subparagraph, the term `essential caregiver' means, with respect to a resident of a skilled nursing facility, an individual who-- ``(I) is designated by or on behalf of the resident pursuant to clause (i) or clause (ii); ``(II) will provide assistance to such resident, which may include assistance with activities of daily living or providing emotional support or companionship to such resident; and ``(III) agrees to follow all safety protocols established by such facility, which shall be clearly specified in writing and may be no more restrictive than the safety protocols (including safety standards and entry requirements) applicable to staff of such facility.''. (b) Medicaid Nursing Facilities.--Section 1919(c)(3) of the Social Security Act (42 U.S.C. 1396r(c)(3)) is amended-- (1) by redesignating subparagraphs (A) through (E) as clauses (i) through (v), respectively; (2) by striking ``A nursing facility must--'' and inserting the following: ``(A) In general.--A nursing facility shall--''; and (3) by adding at the end the following new subparagraph: ``(B) Access to essential caregivers during emergency periods when visitation is otherwise restricted.-- ``(i) Designation of essential caregiver.-- Each nursing facility shall recognize the right of each resident of such facility to-- ``(I) designate and have access to essential caregivers for such resident at all times, including during any period of emergency in which regular visitation is restricted by order of a Federal, State, or local authority or by other operation of law; and ``(II) amend such designation at any time. ``(ii) Presumption of designation.--For purposes of clause (i), in the case of a resident who is unable, by reason of cognitive or mental disability, to make an election described in such clause, the resident representative (as defined in section 483.5 of title 42, Code of Federal Regulations) of such resident shall be permitted to make such designation for such resident. ``(iii) Access to essential caregivers during emergency periods when visitation is otherwise restricted.--During a period of emergency in which regular visitation is restricted by order of a Federal, State, or local authority or by other operation of law, including any period in which a waiver or modification of requirements pursuant to section 1135 is in effect, a nursing facility shall-- ``(I) not deny in-person access to a resident by an essential caregiver of the resident except as provided in this subparagraph; ``(II) allow at least 1 essential caregiver to have access to and provide assistance to such resident at such facility every day and at any time; and ``(III) enforce the agreement described in clause (vii)(III) with respect to an essential caregiver. ``(iv) Restrictions on access.-- ``(I) In general.--During a period of emergency in which regular visitation is restricted by order of a Federal, State, or local authority or by other operation of law, including any period in which a waiver or modification of requirements pursuant to section 1135 is in effect, a nursing facility may deny access to a resident by an essential caregiver of the resident for-- ``(aa) an initial period of not longer than 7 days; and ``(bb) one additional period of not longer than 7 days (in addition to the initial period described in item (aa)) if the department of health of the State in which the facility is located approves the denial of access for such additional period. ``(II) Rule of application.--For purposes of subclause (I), a period of emergency in which regular visitation is restricted by order of a Federal, State, or local authority or by other operation of law shall begin on the date that such order or other operation of law takes effect and shall end on the date that such order or other operation of law expires or is otherwise terminated. During any such period, the maximum number of days for which a nursing facility may deny access to a resident by an essential caregiver of the resident is 7 total days (or, subject to the approval of the department of health of the State in which the facility is located, 14 total days). ``(v) Compliance and notification.-- ``(I) Authority.--No essential caregiver who upholds the agreement described in clause (vii)(III) shall be denied access to the nursing facility of the resident involved. ``(II) Notification.-- If an essential caregiver fails to comply with an agreement with a nursing facility described in clause (vii)(III), the facility must first provide a warning to the essential caregiver and resident in writing citing specific issues of non- compliance and providing clear guidance for corrective measures. ``(III) Enforcement.--If an essential caregiver or resident, after receiving a notification of noncompliance described in subclause (II), fails to take corrective action, the essential caregiver may subsequently be denied access to the resident. In such cases, the facility shall provide to such caregiver and such resident (or health care proxy of such resident), not later than 24 hours after such denial of access occurs, a written explanation as to why such caregiver was denied access to such resident. Such explanation must include the resident's and caregiver's options for appeal under the processes established under clause (vi). ``(vi) Options for residents and caregivers to appeal denials of access.-- ``(I) In general.--Not later than 2 years after the date of enactment of this subparagraph, the Secretary shall issue a final rule establishing a process for residents and caregivers to appeal denials of access. ``(II) Appeals process.--The agency responsible for overseeing the appeals process established under subclause (I) shall-- ``(aa) receive appeals from residents and essential caregivers challenging a decision by a nursing facility to deny access under clause (v); and ``(bb) investigate all such appeals within 48 hours of receipt. ``(III) Burden of proof.--During an appeal received under the appeals process established under subclause (I), if a nursing facility defends a decision to deny access to an essential caregiver under clause (v) on the basis that the essential caregiver violated the agreement described in clause (vii)(III), the nursing facility shall have the burden of proof in demonstrating that the essential caregiver violated such agreement. ``(IV) Resolution of appeal.--With respect to an appeal received under the appeals process established under subclause (I), the agency responsible for overseeing the appeal shall make a determination as to whether a nursing facility violated a requirement or prohibition of this subparagraph within 48 hours of commencing its investigation. If the agency determines that a facility has violated such a requirement or prohibition the agency shall-- ``(aa) require the facility to allow immediate access to the essential caregiver in question; ``(bb) require the facility to establish a corrective action plan to prevent the recurrence of such violation within a 7-day period of receiving notice from the agency; and ``(cc) impose a civil money penalty in an amount to be determined by the agency (not to exceed $5,000) if such facility fails to implement the corrective action plan with the 7-day period specified in item (bb). ``(vii) Definition of essential caregiver.--For purposes of this subparagraph, the term `essential caregiver' means, with respect to a resident of a nursing facility, an individual who-- ``(I) is designated by or on behalf of the resident pursuant to clause (i) or clause (ii); ``(II) will provide assistance to such resident, which may include assistance with of activities of daily living or providing emotional support or companionship to such resident; and ``(III) agrees to follow all safety protocols established by such facility, which shall be clearly specified in writing and may be no more restrictive than the safety protocols (including safety standards and entry requirements) applicable to staff of such facility.''. (c) Intermediate Care Facilities for the Intellectually Disabled.-- Section 1905(d) of the Social Security Act (42 U.S.C. 1396d(d)) is amended-- (1) in paragraph (2), by striking ``and'' at the end; (2) in paragraph (3), by striking the period and inserting ``; and''; and (3) by adding at the end the following new paragraph: ``(4) the institution complies with the requirements relating to the designation of, and access to residents by, essential caregivers described in section 1919(c)(3)(B) in the same manner as if such institution were a nursing facility.''. (d) Inpatient Rehabilitation Facilities.--Section 1866(a)(1) of the Social Security Act (42 U.S.C. 1395cc(a)(1)) is amended-- (1) in subparagraph (X), by striking ``and'' at the end; (2) in subparagraph (Y), by striking the period at the end and inserting ``, and''; and (3) by inserting after subparagraph (Y) the following new subparagraph: ``(Z) in the case of an inpatient rehabilitation facility that is located on the same campus (as defined by the Secretary) as a skilled nursing facility, nursing facility (as defined in section 1919(a)), or intermediate care facility for the intellectually disabled (as described in section 1905(d)), to comply with the requirements relating to the designation of, and access to residents by, essential caregivers described in section 1819(c)(3)(B) in the same manner as if such institution were a skilled nursing facility.''. (e) Regulations.--The Secretary of Health and Human Services shall, after consultation with stakeholders (including residents, family members, long-term care ombudsmen, other advocates of nursing home residents, and nursing home providers), promulgate regulations to carry out this Act and the amendments made by this Act. (f) Rules of Construction.-- (1) No new authority for state and local officials to restrict visitation at nursing facilities.--Nothing in this section or the amendments made by this section shall be construed as creating any new authority for State or local officials to restrict visitation at nursing facilities. (2) No new authority for nursing facilities to unilaterally restrict visitation.--Nothing in this section or the amendments made by this section shall be construed as creating any new authority for a skilled nursing facility or nursing facility (as such terms are defined in sections 1819 and 1919 of the Social Security Act, respectively (42 U.S.C. 1395i-3, 1396r)) to restrict visitation. (g) Effective Date.--The amendments made by this Act shall take effect on the date that is 24 months after the date of the enactment of this Act, and shall apply with respect to periods beginning on or after such date in which regular visitation at nursing facilities is restricted by order of a Federal, State, or local authority or by other operation of law. <all>

usgpo

2024-06-24T00:12:37.341334

BILLS-118hr8327ih

Ensuring Medicaid Continuity for the Insular Areas Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8327 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8327 To amend title XI of the Social Security Act to provide for the redistribution of unused territorial cap amounts under the Medicaid program. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 8, 2024 Mr. Sablan (for himself, Mr. Moylan, and Mrs. Radewagen) introduced the following bill; which was referred to the Committee on Energy and Commerce _______________________________________________________________________ A BILL To amend title XI of the Social Security Act to provide for the redistribution of unused territorial cap amounts under the Medicaid program. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Ensuring Medicaid Continuity for the Insular Areas Act of 2024''. SEC. 2. PROVIDING FOR THE REDISTRIBUTION OF UNUSED TERRITORIAL CAP AMOUNTS UNDER THE MEDICAID PROGRAM. Section 1108(g) of the Social Security Act (42 U.S.C. 1308(g)) is amended by adding at the end the following new paragraph: ``(14) Procedure for redistribution of unused amounts.-- ``(A) In general.--For each fiscal year (beginning with fiscal year 2022), in the case that there is at least 1 specified territory (as defined in subparagraph (D)) with unused amounts (as so defined) with respect to such fiscal year, the Secretary shall determine an appropriate procedure, with respect to each territory that is a shortfall territory (as so defined) for such fiscal year, to increase the limit otherwise determined under this subsection on the amount certified by the Secretary under title XIX for payment to such territory by the amount specified in subparagraph (B). ``(B) Amount specified.-- ``(i) In general.--For purposes of subsection (A), the amount specified in this subparagraph is, with respect to a shortfall territory and a fiscal year-- ``(I) in the case the aggregate unused amounts for such fiscal year for all specified territories are greater than the aggregate shortfall amounts for such fiscal year for all such territories, the difference between the amount that would have been certified by the Secretary under title XIX for payment to such shortfall territory for such fiscal year without application of this paragraph and the amount of payment that such territory would have received under title XIX had this section not applied; and ``(II) in the case the aggregate unused amounts for such fiscal year for all specified territories are less than the aggregate shortfall amounts for such fiscal year for all such territories, an amount that bears the same ratio to such aggregate unused amounts as such shortfall territory's shortfall amount bears to such aggregate shortfall amounts. ``(ii) Retrospective adjustment.--The Secretary may adjust any increases made under this paragraph for a fiscal year as necessary on the basis of information reported by specified territories not later than November 30 of the succeeding fiscal year, as determined appropriate by the Secretary. ``(C) Nonapplication of increase to future fiscal years.--Any increase in the limit described in subparagraph (A) of a specified territory for a fiscal year shall not be taken into account in determining such limit for such territory in the succeeding fiscal year. ``(D) Definitions.--In this paragraph: ``(i) Shortfall amount.--The term `shortfall amount' means, with respect to a specified territory that, but for the limit on the amount certified by the Secretary under title XIX for payment to such territories for a fiscal year established under this section, would have received payment under title XIX for such fiscal year in an amount exceeding such limit, the amount of such excess. ``(ii) Shortfall territory.--The term `shortfall territory' means, with respect to a fiscal year, a specified territory with respect to which the amount that would be payable to such territory under title XIX for such year, without application of this section, exceeds the limit on the amount certified by the Secretary under title XIX for payment to such territory for such year established under this section (without application of this paragraph). ``(iii) Specified territory.--The term `specified territory' means the Virgin Islands, Guam, the Northern Mariana Islands, and American Samoa. ``(iv) Unused amount.--The term `unused amount' means, with respect to a specified territory that was subject to a limit on the amount certified by the Secretary under title XIX for payment to such territory for a fiscal year established under this section but for which the Secretary so certified an amount for such fiscal year that was lower than such limit, the difference between such amount and such limit.''. <all>

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2024-06-24T00:12:37.476929

BILLS-118hr7771ih

National Rosie the Riveter Day Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 7771 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 7771 To amend title 36, United States Code, to designate ``National Rosie the Riveter Day'' and request the President to issue an annual proclamation. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 21, 2024 Mr. Garamendi (for himself, Mr. Huffman, Mr. Mullin, Mr. Fitzpatrick, Mrs. Dingell, and Mr. DeSaulnier) introduced the following bill; which was referred to the Committee on Oversight and Accountability _______________________________________________________________________ A BILL To amend title 36, United States Code, to designate ``National Rosie the Riveter Day'' and request the President to issue an annual proclamation. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``National Rosie the Riveter Day Act''. SEC. 2. FINDINGS. Congress finds the following: (1) National Rosie the Riveter Day is a collective national effort to raise awareness of the more than 6,000,000 American women who joined the workforce during World War II. (2) Americans have chosen to honor women workers who contributed to the Home Front during World War II, including through the award of a Congressional Gold Medal. (3) These women left their homes to work or volunteer full- time in factories, farms, shipyards, airplane factories, banks, and other institutions in support of the war effort. (4) These women worked with the United Service Organizations and the American Red Cross, drove trucks, riveted airplane parts, collected critical materials, rolled bandages, and served on rationing boards. (5) These women in the workforce persevered often in the face of harassment, discrimination, and prejudice to support their country and families in a time of great need. (6) Women of color overcame long-held policies of discrimination and racial segregation to make significant contributions to the war effort and workforce. (7) Our ``Rosie the Riveters,'' the American women who worked and sacrificed during World War II, are a testament to women's empowerment and invaluable contribution to the war effort, inspiring future generations of women and girls. (8) It is fitting and proper to recognize and preserve the history and legacy of working women, including volunteer women, during World War II to promote cooperation and fellowship among such women and their descendants. (9) These women and their descendants wish to further the advancement of patriotic ideas, excellence in the workplace, and loyalty to the United States of America. (10) March 21, during Women's History Month, would be an appropriate date to designate as ``National Rosie the Riveter Day''. SEC. 3. DESIGNATION. (a) In General.--Chapter 1 of Title 36, United States Code, is amended by adding at the end the following new section: ``SEC. 149. NATIONAL ROSIE THE RIVETER DAY. ``(a) Proclamation.--The President is requested to issue each year a proclamation-- ``(1) calling on the people of the United States to observe National Rosie the Riveter Day with appropriate ceremonies and activities; and ``(2) urging civil and educational authorities of States, territorial, tribal, and local governments to observe National Rosie the Riveter Day through appropriate programs and activities.''. (b) Conforming Amendment.--The table of sections for chapter 1 of title 36, United States Code, is amended by adding at the end the following new item: ``149. National Rosie the Riveter Day.''. <all>

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2024-06-24T00:12:37.628057